Full text of Business Conditions Digest : February 1980
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U.S. DEPARTMENT OF COMMERCE
Philip M. Klutznick, Secretary
Courtenay M. Slater, Chief Economist for the Department of Commerce
BUREAU OF ECONOMIC ANALYSIS
George Jaszi, Director
Allan H. Young, Deputy Director
John E. Cremeans, Associate Director for National
Analysis and Projections
Feliks Tamm, Editor
This report is prepared in the Statistical Indicators Division of the Bureau of Economic
Analysis. Technical staff and their responsibilities for the publication areBarry A. Beckman—Technical supervision and review
Brian D. Kajutti—Composite indexes
Morton Somer—Seasonal adjustments
Betty F. Tunstall—Data collection and compilation (Phone: 202-523-0541)
The cooperation of government and private agencies that provide data is gratefully
acknowledged. Agencies furnishing data are indicated in the list of series titles and sources
at the back of this report.
This publication is prepared under the general guidance of a technical committee under the
auspices of the Office of Federal Statistical Policy and Standards. The committee consists of
the following persons:
Beatrice N. Vaccara, Chairman, U.S. Department of the Treasury
John E. Cremeans, Bureau of Economic Analysis, U.S. Department of Commerce
Joseph W. Duncan, Office of Federal Statistical Policy and Standards
Lyle E. Gramley, Council of Economic Advisers, Executive Office of the President
Ronald E. Kutscher, Bureau of Labor Statistics, U.S. Department of Labor
J. Cortland Peret, Board of Governors of the Federal Reserve System
BUSINESS CONDITIONS DIGEST (BCD) provides
a monthly look at many of the economic time
series found most useful by business analysts
and forecasters.
The original BCD, which began publication
in 1961 under the title Business Cycle Developments, emphasized the cyclical indicators approach to the analysis of business conditions
and prospects. The report's contents were based
largely on the list of leading, roughly coincident,
and lagging indicators maintained by the
National Bureau of Economic Research, Inc.
In 1968, BCD was expanded to increase its
usefulness to analysts using other approaches to
business conditions analysis. Principal additions
to the report were series from the national income and product accounts and series based on
surveys of businessmen's and consumers' anticipations and intentions. The composite indexes were added at that time, and the report's
present title was adopted.
The dominant feature of the current BCD is
the cyclical indicators section, in which each
business cycle indicator is assigned a three-way
timing classification according to its behavior at
peaks, at troughs, and at all turns. This section is
supplemented by a section containing other important economic measures. The method of
presentation is explained in the introductory text
which begins on page 1.
Most of the data contained in this report
also are published by their source agencies. A
series finding guide and a complete list of series
titles and sources can be found at the back of the
report,
Annual subscription price: $40 domestic, $50
foreign. Single copy price: $3.50 domestic, $4,50
foreign. For information concerning foreign airmail delivery, available at an additional charge,
write the Superintendent of Documents (address
follows), enclosing a copy of your address label.
Make checks payable to the Superintendent of
Documents. Send to the U.S. Government
Printing Office, Washington, D.C. 20402.
Cyclical Indicators are economic time series
which have been singled out as leaders, coinciders, or laggers based on their general conformity to cyclical movements in aggregate
economic activity. In this report, cyclical indicators are classified both by economic process
and by their average timing at business cycle
peaks, at business cycle troughs, and at peaks
and troughs combined. These indicators have
been selected primarily on the basis of their
cyclical behavior, but they also have proven
useful in forecasting, measuring, and interpreting short-term fluctuations in aggregate
economic activity,
Other Economic Measures provide additional information for the evaluation of current business
conditions and prospects. They include selected
components of the national income and product
accounts; measures of prices, wages, and
productivity; measures of the labor force,
employment, and unemployment; economic
data on Federal, State, and local government activities; measures of U.S. international transactions; and selected economic comparisons with
major foreign countries.
BUSINESS CONDITIONS DIGEST
New Features and Changes for This Issue
BCII
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
FEBRUARY 1980
Data Through January
Volume 20, Number 2
PART I.
CYCLICAL
Chart
"Ail
A2
A3
A4
Composite Indexes
Leading Index Components
Coincident Index Components
Lagging Index Components
10
12
: 14
15
Table
60
CYCLICAL INDICATORS
BY ECONOMIC
81
Employment and Unemployment
16
61
82
83
84
85
86
87
Production and Income
Consumption, Trade, Orders, and Deliveries
Fixed Capital Investment
Inventories and Inventory Investment
Prices, Costs, and Profits
Money and Credit
19
21
23
26
28
31
63
64
65
68
69
71
36
—
39
74
77
-
DSFFUSiON
C1
^
C3
Diffusion Indexes
Selected Diffusion Index Components
Rates of Change
The Secretary of Commerce has determi
tion of the public business required by I
been approved by the Director of the
ALUMNI LIBRARY
DEPOSITORY ITEM
ItCIt
PART II.
OTHER IMPORTANT
ECONOMIC MEASURES
NATIONAL INCOME
AND PRODUCT
A3
A4
A5
A6
A7
A8
GNP and Personal Income
Personal Consumption Expenditures
Gross Private Domestic Investment
Government Purchases of Goods and Services. .
Foreign Trade
National Income and Its Components
Saving
Shares of GNP and National Income
Chart
Table
40
41
42
43
44
45
46
47
80
80
81
81
82
82
82
83
48
49
84
87
51
89
52
53
90
90
56
57
92
93
58
59
59
94
95
96
PRICES, WAGES,
AND PRODUCTIVITY
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 (April 1978 issue)
QCD and Related Measures of Variability (April 1978 issue)
B. Current Adjustment Factors
C. Historical Data for Selected Series
D. Descriptions and Sources of Series (See "Alphabetical Index—Series Finding Guide")
E. Business Cycle Expansions and Contractions: 1854 to 1975 (July 1979 issue)
F. Specific Peak and Trough Dates for Selected Business Indicators (October 1979 issue)
G. Experimental Data and Analyses
Alphabetical Index-Series Finding Guide
,
Titles and Sources of Series
97
98
105
110
114
Readers are invited to submit comments and
suggestions concerning this publication.
Address them to Feliks Tamm, Chief, Statistical
Indicators Division, Bureau of Economic Analysis,
U.S. Department of Commerce, Washington, D.C. 20230
NEW FEATURES
AND CHANGES
FOR THIS ISSUE
Changes in this issue are as follows:
r
1. New seasonal adjustment factors have been computed
for 18 series using the X-ll variant of the Census Method
II seasonal adjustment program. The new factors are shown
in appendix B for all of these series except series 9, 10,
12, and 112. The table below shows the beginning month
(or quarter) for application of the new seasonal factors
to each series:
Series
number
5
9
10
12
13
15
33
72
112
Beginning date for
new factors
January 1975
January 1980
January 1980
January 1975
January 1975
IQ 1974
January 1976
January 1980
January 1980
Series
number
Beginning date for
new factors
517
525
543
570
580
604
606
614
616
October 1977
October 1977
November 1979
December 1979
October 1977
December 1979
December 1979
January 1976
December 1979
2. Data for seasonally adjusted Producer price indexes
have been revised by the source agency for the period 1975
to date to reflect new seasonal adjustments of the basic
data. In addition, some of the producer price indexes shown
in BCD or used as deflators for individual indicators have
been revised for the period 1967 through 1974 to correct
discrepancies between data recently obtained from the source
agency and data in the BCD files. Thus, the following SOT
series are revised for the periods indicated below:
1967 to date: Series 7 and 92.
1975 to date: Series 8, 36, and 331-334.
(Continued on page iv.)
The March issue of BUSINESS CONDITIONS DIGEST is scheduled
for release on April 2.
in
A limited number of
changes are made from
time to time to incorporate recent findings of economic
research, newly available time series, and
revisions made by
source agencies in
concept, composition,
comparability, coverage,
seasonal adjustment
methods, benchmark
data, etc. Changes may
result in revisions of
data, additions or
deletions of series,
changes in placement of
series in relation to
other series, changes
in composition of
indexes, etc.
The series on Change in PPI, all commodities (series 330c) and industrial commodities (series 335c) are no
longer shown in seasonally adjusted form.
Further information concerning the producer price index revisions may be obtained from the U.S. Department
of Labor, Bureau of Labor Statistics, Office of Prices and Living Conditions, Division of Industrial Prices and
Price Indexes.
3. Data for seasonally adjusted Consumer price indexes have been revised by the source agency for the
period 1975 to date to reflect new seasonal adjustments of the basic data. In addition, the seasonally adjusted
CPI data shown in BCD or used as deflators for individual indicators have been revised for the period 1967 through
1974 to correct discrepancies between data recently obtained from the source agency and data in the BCD files.
Thus, series 53, 320c, and 322 are revised for the period 1967 to date.
Further information concerning these revisions may be obtained from the U.S. Department of Labor, Bureau of
Labor Statistics, Office of Prices and Living Conditions, Division of Consumer Prices and Price Indexes.
4. Series 341 (Real average hourly earnings of production workers in the private nonfarm economy) has been
revised by the source agency for the period 1975 to date. This revision reflects the revision in consumer price
data used to deflate this series. (See item 3, above.)
Further information concerning this revision may be obtained from the U.S. Department of Labor, Bureau of
Labor Statistics, Office of Productivity and Technology, Division of Productivity Research.
5. The series on New private housing units started (series 28) has been revised for the period 1976 to date
to reflect new seasonal adjustment factors computed by the source agency.
Further information concerning this revision may be obtained from the U.S. Department of Commerce, Bureau of
the Census, Construction Statistics Division.
6. U.S* money stock measures have been redefined by the source agency.
revised data for the period 1959 to date.
These new definitions result in
For this issue of BCD, revised data based on the new definitions are used for series 104 (Change in total
liquid assets) only. Revised data for the other series (series 85, 102, and 105-108) based wholly or in part on
U.S. money supply will be included in a subsequent issue. The January 1980 figures for these series have been
estimated on the basis of weekly data available under the previous definitions.
The series on U.S. money supply in constant 1972 dollars (series 105 and 106) have not been revised to
reflect the new seasonal adjustment of their CPI deflator. (See item 3, above.) These revisions will be introduced at the time data based on the new definitions are introduced.
Information concerning the revised definitions of the U.S. money stock may be obtained from the Board of
Governors of the Federal Reserve System, Division of Research and Statistics, Banking Section.
7. The series on Exports, excluding military aid shipments, total (series 602) and General imports, total
(series 612) have been revised by the source agency for the year 1978. These revisions reflect corrections to
1978 statistics.
Further information concerning these revisions may be obtained from the U.S. Department of Commerce, Bureau
of the Census, Foreign Trade Division.
8. Appendix C contains historical data for series 1-4, 21, 37, 40-44, 51, 52, 60, 90, 340, and 341.
9. Appendix G contains cyclical comparisons for series 19, 41, 43, 62, 90, and 104,
METHOD OF PRESENTATION
This report is organized into two major parts.
Part I, Cyclical Indicators, includes about 150 time
series which have been found to conform well to
broad fluctuations in comprehensive measures of
economic activity. Nearly three-fourths of these are
individual indicators, the rest are related analytical
measures: Composite indexes, diffusion indexes,
and rates of change. Part IS, 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 I! 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 1955, but those for the composite
indexes and their components (part I, section A)
begin with 1948, and a few charts use a two-pane!
format which covers only the period since 1968.
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
issue. It should be noted that
the series numbers used are for identification
purposes only and do not reflect precise
relationships or order. However, all series
considered as cyclical indicators are numbered in
the range 1 to 199.
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 tntrayear 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 e x p a n s i o n s and
contractions, smoothness, and prompt availability
(currency). A formal, detailed weighting scheme
was developed and used to assess each series by all
of the above criteria. (See articles in the May and
November 1975 issues of BCD.) The resulting
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.)
This information, particularly the scores relating
cyclical high or low levels. As a matter of general
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
groups and combine those with similar timing
have been designated.
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 pub- (for example, leading at both peaks and troughs),
lication for the 1948-1970 time period are those with diversified economic coverage and a minimum
determined by a 1974 review. The turning dates for of duplication, composite indexes give more
the 1973-1975 period are detailed in NBER's 1976 reliable signals over time than do any of the
Annual Report.
individual indicators. Furthermore, much of the
1
Cross-Classification of Cyclical Indicators by Economic Process and Cyclical Timing
A. Timing at Business Cycle Peaks
Xy Economic
\Process
Cyclically
Timing
\^
LEADING (L)
INDICATORS
{62 series)
ROUGHLY
IV.
ill.
CONSUMPTION, FIXED
CAPITAL
TRADE,
INVESTMENT
ORDERS, AND
(18 series)
DELIVERIES
(13 series)
INVENTORIES
AND
INVENTORY
INVESTMENT
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)
Inventory
investment
(4 series)
Inventories on
hand and on
order
(1 series)
Comprehensive
employment
(1 series)
Comprehensive
output and
real income
(4 series)
Industrial
production
(4 series)
Consumption
and trade
(4 series)
Backlog of
investment
commitments
(1 series)
Business
investment
expenditures
(5 series)
COINCIDENT(C)
INDICATORS
{23 series)
LAGGING (Lg)
INDICATORS
(18 series)
TIMING
UNCLASSIFIED
(U)
(8 series)
Duration of
unemployment
(2 series)
Trade
(1 series)
AND PROFITS
{17 series)
VII.
MONEY
AND CREDIT
(26 series)
(9 series)
Stock price;!
(1 series)
Commodity
prices
(1 series)
Profits and
profit
margins
(7 series)
Cash flows
(2 series)
Money flows
(3 series)
Real money
supply
(2 series)
Credit flows
(4 series)
Credit
difficulties
(2 series)
Bank reserves
(2 series)
Interest rates
(1 series)
Velocity of
money
(2 series)
Interest rates
(2 series)
Inventories on
hand and on
order
(4 series)
Business
investment
expenditures
(1 series)
Comprehensive
employment
{3 series)
VI.
PRICES, COSTS,
V.
II.
PRODUCTION
AND
INCOME
(10 series)
EMPLOYMENT
AND
UNEMPLOYMENT
(18 series)
Business
investment
commitments
(1 series)
Unit labor costs
and labor share
(4 series)
Interest rates
(4 series)
Outstanding
debt
(3 series)
Commodity
prices
(1 series)
Profit share
(1 series)
Interest rates
(1 series)
I
I
B. Timing at Business Cycle Troughs
\y Economic
\Process
CycllcalV
Timing
X.
LEADING (L)
INDICATORS
(47 series)
ROUGHLY
CO)NCIDENT(C)
INDICATORS
(23 series)
LAGGING (Lg)
INDICATORS
(40 series)
1.
EMPLOYMENT
AND
UNEMPLOYMENT
(18 series)
II.
PRODUCTION
AND
INCOME
(10 series)
IN.
CONSUMPTION,
TRADE,
ORDERS, AND
DELIVERIES
(13 series)
IV.
FIXED
CAPITAL
INVESTMENT
(18 series)
V.
INVENTORIES
AND
INVENTORY
INVESTMENT
(9 series)
VI.
PRICES, COSTS,
AND PROFITS
VII.
MONEY
AND CREDIT
Marginal
employment
adjustments
(3 series)
Industrial
production
(1 series)
New and unfilled
orders and
deliveries
(5 series)
Consumption
and trade
(4 series)
Formation of
business
enterprises
(2 series)
Business
investment
commitments
(4 series)
Residential
construction
(3 series)
Inventory
investment
(4 series)
Stock prices
(1 series)
Commodity
prices
(2 series)
Profits and
profit margins
(6 series)
Cash flows
(2 series)
Money flows
(2 series)
Real money
supply
(2 series)
Credit flows
(4 series)
Credit
difficulties
(2 series)
Marginat
employment
adjustments
(2 series)
Comprehensive
employment
(4 series)
Comprehensive
output and
real income
(4 series)
Industrial
production
(3 series)
Capacity
utilization
(2 series)
Consumption
and trade
(3 series)
Business
investment
commitments
(1 series)
Profits
(2 series)
Money flow
(1 series)
Velocity of
money
(1 series)
Unfilled orders
(1 series)
Business
investment
commitments
(2 series)
Business
Investment
expenditures
(6 series)
Unit tabor costs
and labor share
(4 series)
Velocity of
money
(1 series)
Bank reserves
(1 series)
Interest rates
(8 series)
Outstanding debt
(3 series)
Marginat
employment
adjustments
(1 series)
Job vacancies
(2 series)
Comprehensive
employment
(1 series)
Comprehensive
and duration
of
unemployment
(5 series)
(26 series)
^
™ '
TIMING
UNCLASSIFIED
fU)
(1 series)
(17 series)
Inventories on
hand and on
order
(5 series)
J
r1 "
*
"
"
j
Bank reserves
(1 series)
independent measurement error and other "noise"
in the included series are smoothed out in the
index as a whole. The indexes include only monthly
series that are acceptable in terms of relatively
prompt availability and reasonable accuracy.
The main composite indexes are distinguished by
their cyclical timing. Thus, there is an index of
leading indicators, series which historically reached
their cyclical peaks and troughs earlier than the
corresponding business cycle turns. There is an
index of roughly coincident indicators, consisting
of series which historically reached their turning
points at about the same time as the general
economy, and an index of lagging indicators, which
includes series that typically reached their peaks
and troughs later than the corresponding business
cycle turns.
The leading index contains series with long as
well as short leads, but each series leads on the
average over time and shows a frequency of leads
at the individual turns exceeding that attributable
to chance, given the historical distribution of
cyclical timing. (An analogous statement applies to
the components of the lagging index.) Since 1948,
leads were generally more frequent and longer at
peaks than at troughs of business cycles, while lags
were generally more frequent and longer at troughs
than at peaks. The adopted system of scoring and
classifying the indicators takes into account these
w e l l - e s t a b l i s h e d d i f f e r e n c e s in timing.
Consequently, rough coincidences include short
leads (•) and lags ( + ) as well as exact
coincidences (0). (For monthly series, the range is
from -3 through -hi at peaks and from -1 through
+3 at troughs, where minus denotes leads and
plus denotes lags in months.)
For purposes of constructing a composite index,
each component series is standardized: The monthto-month percent changes in a given series are
divided by the long-run average (without regard to
sign) of those changes. Thus, the more volatile
series are prevented from dominating the index.
The coincident index is calculated so that its longterm trend (since 1948) equals the average of the
trends of its four components. This trend, which is
similar to that of GNP in constant dollars, can be
viewed as a linear approximation to the secular
movement (at an average growth rate) in aggregate
economic activity. The indexes of leading and lagging indicators have been adjusted so that both
their trends and their average month-to-month
percent changes (without regard to sign) are approximately equal to those of the coincident index.
(For a more detailed description of the method of
constructing the composite indexes, see.the 1977
Handbook of Cyclical Indicators.)
In addition to these principal composite indexes,
differentiated according to cyclical timing, there
are five indexes based on leading indicators which
have been grouped by economic process. Taken
together, these additional indexes include all 12
component series of the overall leading index, plus
a few related series. Also shown in this section is
the ratio of the index of roughly coincident
indicators to the index of lagging indicators, a
series known to have a useful pattern of early
cyclical timing. Numbers entered on the charts of
the composite indexes show the length, in months,
of leads (-) and lags (+) at each of the reference
turning dates covered,
The next set of data consists of series included
in the principal composite indexes. These are the
12 components of the leading index, the 4
components of the coincident index, and the 6
components of the lagging index. Following the title
of each series, its typical timing is identified by
three letter symbols in a small box. The first of
these letters refers to the timing of the given
indicator at business cycle peaks, the second to its
timing at business cycle troughs, and the third to
its timing at all turns, i.e., at peaks and troughs
combined. "L" denotes a tendency to lead, "C" a
tendency to roughly coincide with the business
cycle turns (as represented by the NBERdesignated reference dates), and "Lg" a tendency
to lag. Since these series have been selected for the
consistency of their timing at both peaks and
troughs, all components of the leading index are
denoted "L,L,L," all components of the coincident
index "C,C,C," and all components of the lagging
index "Lg,Lg,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 1973-75 recession is shaded according
to the dates of the NBER reference cycle
chronology.
Section B. Cyclical Indicators by Economic Process
This section covers 111 individual time series,
including the 22 indicators used in the
construction of the composite indexes. The peak
and trough timing classifications are shown on the
charts in the same manner as described above, but
this section includes series with different timing at
peaks and at troughs, as well as series where the
timing is not sufficiently consistent to be classified
as either L,C, or Lg according to the probabilistic
measures and scoring criteria adopted. Such series
are labeled U, i.e., unclassified as to timing at
turning points of the given type. Eight series are
unclassified at peaks, one series at troughs, and 19
series at all turns (of the 19, 15 have definite but
different timing at peaks and at troughs). No series
that is classified as U both at peafcs and at troughs
is included in the list of cyclical indicators.
The classification scheme which groups the
indicators of this section by economic process and
cyclical timing is summarized in the two
tabulations on page 2. Cross-classification A is
based on the observed behavior of the series at five
business cycle peaks (November '48, July '53,
August '57, April '60, and December r69); crossclassification B, on their behavior at five business
cycle troughs (October '49, May '54, April '58,
February '61, and November 70). Each tabulation
distinguishes seven major economic processes and
four types of cyclical timing. The titles in the cells
identify subgroups of the given economic process
with the given timing characteristic. The number of
series in each such group is given in parentheses
following the title. Complete information on how
individual indicators are classified by timing at
peaks, troughs, and all turns, along with selected
measures and scores, is provided in the 1977
Handbook of Cyclical Indicators.
Section C. Diffusion Indexes and Rates of Change
Many series in this report are aggregates
compiled from numerous components. How the
individual components of an aggregate move over a
given timespan is summarized by a diffusion index
which indicates the percentage of components that
are rising (with half of the unchanged components
considered rising). Cyclical changes in these
diffusion indexes tend to lead those of the
corresponding aggregates. Since diffusion indexes
are highly erratic, they are computed from changes
measured over 6- or 9-month (or 3- or 4-quarter)
spans, as well as 1-month (or 1-quarter) spans.
Longer spans help to highlight the trends underlying the shorter-term fluctuations. Diffusion indexes
are shown for the component series included in
each of the three composite indexes and for the
components of some of the aggregate series shown
in section B.
Diffusion measures can be derived not only from
actual data but also from surveys of anticipations
or intentions. Indexes based on responses of
business executives about their plans and
expectations for several operating variables are
presented, along with the corresponding indexes
based on actual data, as the last set of diffusion
series.
This section also records rates of change for the
three composite indexes (leading, coincident, and
lagging) and for four indicators of aggregate
economic activity: GNP in constant dollars
(quarterly), industrial production, employee hours
in nonagricultural establishments, and personal
income less transfers in constant dollars. Rates of
change, are shown for 1- and 3-month spans or for
1-quarter spans.
Although movements in diffusion Indexes and in
rates of change for the same aggregates are
generally positively correlated, these two measures
present information about two related but distinct
aspects of economic change. Diffusion indexes
measure the prevailing direction or scope of
change, while rates of change measure the degree
as well as the overall direction. As is the case for
diffusion indexes, cyclical movements in the rates
of change tend to lead those of the corresponding
indexes or aggregates, and thus, they tend to lead
at the business cycle turns as well.
Part II. OTHER IMPORTANT ECONOMIC
MEASURES
This part is divided into six sections which cover
a wide range of quarterly and monthly time series
measuring various aspects of economic activity.
Some of these series are very comprehensive,
pertaining to the U.S. economy as a whole, others
have to do with particular sectors or markets, and
still others relate to U.S. international transactions
or to selected foreign countries. The represented
variables include incomes, outputs, and
expenditures; prices, earnings, and productivity;
labor resources; government receipts,
expenditures, and defense-related activities; exports and imports; and selected indicators for a few
key foreign countries.
Section A, National Income and Product
The national income and product accounts,
compiled by BEA, summarize both receipts and
final expenditures for the personal, business,
foreign, and government sectors of the economy.
Section Al shows the gross national product,
final sales, and personal and disposable personal
income. The four major components of the gross
national p r o d u c t — p e r s o n a l consumption
expenditures, gross private domestic investment,
government purchases of goods and services, and
net exports of goods and services—are presented in
sections A2 through A5. Most of the series in
section A are presented in current as well as
constant dollars. There are also a few per capita
series. The national income and product accounts,
briefly defined below, are described more fully in
the Survey of Current Business, Part I,
January 1976.
Gross national product (GNP) is the market
value of final goods and services produced by the
labor and property supplied by residents of the
United States, before deduction of allowances for
the consumption of fixed capital goods. It is the
most comprehensive measure of aggregate
economic output. Final sales is GNP less change in
business inventories.
Personal income is the income received by
persons (individuals, owners of unincorporated
businesses, nonprofit institutions, private trust
funds, and private noninsured welfare funds) from
all sources. It is the sum of wage and salary
disbursements, other labor income, proprietors'
income, rental income of persons, dividends,
personal interest income, and transfer payments,
less personal contributions for social insurance.
Disposable personal income is the personal
income available for spending or saving. It consists
of personal income less personal taxes and nontax
payments to gnvernment.
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 Section C. Labor Force, Employment, and
capital goods purchased by private business and Unemployment
nonprofit institutions and the value of the change
This section contains measures of the civilian
in the physical volume of inventories held by
labor
force and its major components: Total
private business. The former include all private
numbers
of employed and unemployed persons.
purchases of dwellings, whether purchased for
The
number
of unemployed is subdivided into
tenant or owner occupancy. Net purchases of used
selected categories defined by sex, age, and class
goods are also included.
Government purchases of goods and services of worker. Also included are data on participation
(A4) is the compensation of government employees rates for a few principal segments of the labor
and purchases from business and from abroad. It force.
excludes transfer payments, interest paid by
Section D, Government Activities
government, and subsidies. It includes gross
investment by government enterprises but excludes
Receipts, expenditures, and their balance (surtheir current outlays. It includes net purchases of plus or deficit) are shown quarterly on two levels:
used goods and excludes sales and purchases of (1) Federal Government and (2) State and local
land and financial assets.
government. Also shown is a selection of series
Net exports of goods and services (A5) is exports from the discontinued Defense Indicators.
less imports of goods and services. Exports are part These series measure defense activities which
of the national production; imports are not, but are influence short-term changes in the national
included in the components of GNP and are economy. Included are series relating to
therefore deducted. More detail on U.S. obligations, contracts, orders, production,
international transactions is provided in section E. shipments, inventories, outlays, and employment.
National income (A6) is the incomes that These series are grouped according to the time at
originate in the production of goods and services which the activities they measure occur in the
attributable to labor and property supplied by defense order-production-delivery process. Series
residents of the United States. Thus, it measures measuring activities which usually precede prothe factor costs of the goods and services pro- duction, such as contract awards and new orders,
duced. It consists of the compensation of are classified as "advance measures of defense
employees, proprietors' income, rental income of activity." Series measuring activities which tend to
persons, corporate profits, and net interest.
coincide with production, such as employment, arid
Saving (A7) is the difference between income activities which usually follow production, such as
and expenditures during an accounting period. shipments, are classified as "intermediate and final
Total gross saving includes personal saving, measures of defense activity."
business saving (mainly undistributed corporate
profits and capital consumption allowances), and Section E. U.S. International Transactions
government surplus or deficit.
This group includes monthly series on exports
Shares of GNP and national income (A8).—The
major e x p e n d i t u r e c o m p o n e n t s of GNP (excluding military aid) and general imports, plus a
(consumption, investment, etc.) are expressed as few selected components of these aggregates. Also
percentages of GNP, and the major income shown are the balances between receipts and
components of national income (compensation of expenditures for goods and services, merchandise,
employees, corporate profits, etc.) are expressed as and investment income.
percentages of national income.
Section F. International Comparisons
Section B. Prices, Wages, and Productivity
The important data on price movements include
the monthly consumer and producer price indexes
and their major components. Based largely on
these series are the quarterly price indexes from
the national income and product accounts, notably
the GNP implicit price deflator (with weights
reflecting the changing proportions of different
expenditure categories in GNP) and the fixedweighted price index for the gross business product. Data on both levels and percent changes are
presented for the period since 1969.
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.
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 1969) provide
important measures of the rates of inflation in the
major industrialized countries. Stock prices (also
shown beginning in 1969) tend to be significant as
leading indicators.
HOW TO READ CHARTS
Peak (P) of cycle indicates
end of expansion and beginning of recession (shaded
area) as designated by NBER.
Basic Data
Arabic number indicates latest
month for which data are
plotted. ("9" = September)
Solid line indicates monthly
data. (Data may be actual
monthly figures or moving
averages.)
Dotted line indicates anticipated data.
Broken line indicates actual
monthly data for series where
a moving average is plotted.
Roman number indicates
latest quarter for which data
are plotted. ("IV" = fourth
quarter)
Solid line with plotting points
indicates quarterly data.
Parallel lines indicates a break
in continuity (data not available, extreme value, etc.).
Diffusion Indexes
Solid line indicates monthly
data over 6- or 9-month
spans.
Broken line indicates monthly
data over 1-month spans.
Various scales are used to
highlight the patterns of the
individual series. "Scale A"
is an arithmetic scale, "scale
L-1" is a logarithmic scale
with 1 cycle in a given distance, "scale L-2" is a logarithmic scale with two cycles
in that distance, etc.
Arabic number indicates latest
month for which data are
used in computing the indexes.
Broken line with plotting
points indicates quarterly
data over 1-quarter spans.
Roman number indicates
latest quarter for which data
are used in computing the indexes.
Solid line with plotting points
indicates quarterly data over
various spans.
Diffusion indexes and rates
of change are centered within
the spans they cover.
Trough (T) of cycle indicates
end of recession and beginning of expansion as designated by NBER.
Rates of Change
Solid line indicates percent
changes over 3- or 6-month
spans.
Broken line indicates percent
changes over 1-month spans.
Solid line with plotting points
indicates percent changes over
3-or 4-quarter spans.
Dotted line indicates anticipated quarterly data over
various spans.
Arabic number indicates latest
month used in computing
the changes.
Broken line with plotting
points indicates percent
changes over 1-quarter spans.
Roman number indicates
latest quarter used in computing the changes.
HOW TO LOCATE A SERIES
1. See ALPHABETICAL INDEX-SERIES FINDING GUIDE at
the back of the report where series are arranged alphabetically
according to subject matter and key words and phrases of the
series titles, or
2. See TITLES AND SOURCES OF SERIES at the back of
the report where series are listed numerically according to
series numbers within each of the report's sections.
Table 1. Summary of Recent Data and Current Changes for Principal Indicators
Basic data1
Timing
classification3
SwiBtitlt
Unit
of
rmasure
Average
910. Twelve leading indicators
920. Four coincident indicators
930. Six lagging indicators
Nov.
1979
1978
I. CYCLICAL INDICATORS
A. Composite Indexes
Ptorcwt chaogt
2dQ
3dQ
4th Q
1979
1979
1979
Nov.
1979
Dec.
1979
Jan.
1980
to
Dec.
!
to
Dec.
1979
Jan.
1980
-0.2
-0.7
-0.4
,_
20 Q
to
3dQ
•3dQ
to
4th Q
1979
1979
-0.6
-2.2
C!
|
\
Leading Indicator Subgroups:
913, Marginal employment adjustments
914. Capital investment commitments
915. Inventory investment and purchasing
916. Profitability.. .
917. Money and financial flows
L,L,L
C,C,C
Lg,Lg,Lg
L.L.L
L,L,L
L.L.L !
U,L
L.L.L
1967=100 ..
do, ...
do. ...
141.8
140.1
143.1
do.
do.
do.
do.
do.
115.7
106.2
...
...
.. .
...
...
98.1
93.2
149.0
140.3
145.0
166.4
141.1
144.9
162.6
96.7
96.2
113.9
105.7
NA
145.4
113.8
107.1
140.2
144.9
167.2
96.1
114.0
105.0
137.1
144.9
177.7
136.0
144.9
178.2
136.3
144.8
179.1
135.1
144.3
179.3
96.3
95.8
96.4
96.6
112.4
102.2
112.9
102.3
NA
136.8
112.4
102.6
NA
133.3
40.1
40.3
40.4
91.9
91.9
147.0
147.5
113.1
102.5
NA
140.7
39.8
40.2
40.2
90.9
141.0
0.1
-0.5
0.6
0.4
0.1
NA
-3.0
0.6
0.2
-0.4
0.3
NA
-2.6
0.0
2.8
-0.1
0.2
-2.0
0.0
0.3
0.0
6.3
0.2
-0.8
-2.4
NA
-4.6
910
920
930
913
914
915
916
917
B. Cyclical Indicators by Economic Process
B1. Employment and Unemployment
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
6. Avg. weekly initial claims (inverted4)
*3. Layoff rate, per 100 employ., mfg. (inv.4)2 ..
4. Quit rate, per 100 employees, mfg.2
LXL
L,C,L
L,L,L
L.C.L
L,L,L
L,Lg,U
Hours
do. ...
Percent
Thousands. .
Percent
do. . . .
40.4
3.6
4.1
338
0.9
2.1
3.3
3.9
384
1.1
2.0
3.2
4.0
390
1.1
2.0
3.2
3.8
389
1.3
1.9
3.2
4.0
411
1.2
2.0
3.3
3.9
418
1.3
2.0
3.2
4.0
413
1.2
1.9
3.3
4.1
404
1.3
2.0
Job Vacancies:
60. Ratio, help-wanted advertising to persons
unemployed2
46. Help-wanted advertising
L,Lg,U
L,Lg,U
Ratio
1987-100...
0.738
149
0.786
158
0.778
154
0.775
156
0.789
161
0.778
158
0.778
159
0.714
154
A.r., bil. hrs..
Thousands. .
do. ...
do. ...
163.84
91,031
25,597
25,598
168.88
93,648
89,497
26,579
168.09
93,232
89,353
26,630
169.29
93,915
89,759
26,638
169.98
94,319
90,104
26,586
169.79
94,223
90,100
26,533
170.65
94,553
90,231
26,654
171.00
94,534
90,536
26,705
58.59
59,25
59.10
59.33
59.31
59.27
59.38
59.24
0.11
-0.14
0.23
6,047
6.0
3.2
5,963
5.8
3.0
5,890
5.8
3.0
6,008
5.8
2.9
6,084
5.9
3.0
6,044
5.8
3.1
6,087
5.9
3.1
6,425
6.2
3.2
-0.7
-0.1
-5.6
-0.3
-0.1
-2.0
-1.3
-0.1
11.9
10.8
10.8
10.5
10.5
10.6
10.5
10.5
-oa
0.0
-oa
37
43
45
91
44
0.5
0.5
0.6
50
52
51
Comprehensive Employment:
48. Employee hours in nonagri. establishments . . . U,C,C
42. Persons engaged in nonagri. activities
u,c,c
*41. Employees on nonagri. payrolls
C,C,C
40. Employees in mfg., mining, construction
L,C,U
90. Ratio, civilian employment to total population of working age3
U,Lg,U
Percent
Comprehensive Unemployment:
37. Total unemployed (inverted 4 )
L,Lg,U Thousands . .
43. Unemployment rate, total (inverted4)2
Percent
Ug.U
45. Avg. weekly insured unemploy-rate (inv.4)2 .. L,lg,U
do. ...
*91 . Avg. duration of unemployment (inverted4) . . Lg.Lg.Lg
4 2
44. Unemploy, rate, 15weeksand over (inv. } .. Lg,Lg,Lg Percent
1.4
40.2
1.2
1.2
1.1
1.2
1.1
1.2
1.3
0.5
-0.1
0.1
1.2
0.1
-0.1
0,,2
0,1
oa
2 ,,2
-oa
oa
1.0
0.0
-0.2
0.3
-0.2
-0.1
0.0
0.0
0.2
-5.7
0.1
oa
1
21
2
5
3
4
-0.064
0.0
-3.1
0.6
•0.003
1.3
0.014
3.2
60
46
0.2
0.0
0.3
0.2
0.7
0.7
0.5
0.0
0.4
0.4
0.4
-0.2
48
42
41
40
-0.02
90
0.5
0.4
0.1
0.5
0.0
0.9
-0.1
0.0
-0.1
0.0
0,1
2.8
0.1
B2. Production and Income
Comprehensive Output and Income:
c,c,c
50 GNPin 1972 dollars
C,C,C
62. Personal income in 1972 dollars
*51. Pers. income less transfer pay., 1972 dollars . . C.C.C
53. Wages and salaries in mining, mfg., and conc,c,c
struction, 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., FR02
83. Capacity utilization rate, mfg., BEA 2
84. Capacity utilization rate, materials, FRB2 —
C,C,C
C,C,C
C.L.L
c,c,c
A.r., bil. dol.
do
.....do. ...
1399.2 1431.7 1422.3 1433.3 1440.7
1145.2 1178.0 1173.0 1179.3 1185.5 1186.5 1188.6 1179.4
9 9 5 . 7 1023.7 1022.0 1021.3 1027,8 1029.1 1030.9 1020.2
do
243.5
245.9
247.9
243.9
241.5
241.0
241.5
239.2
1967=100...
do. ...
do
A.r., bil. dol.
146.1
139.7
156.9
639.5
152.2
146.4
163.3
653.1
151.9
146.6
162.5
647.3
152.3
145.8
164.3
651.3
152.2
145.1
164.4
655.3
152.1
144.9
164.4
152.3
144.7
164.7
152.7
144.8
165.5
0.8
0.5
0.2
0.2
-0.8
-1.0
-oa
0.2
-1.0
-1.6
0.1
-0.1
0.2
0.3
0.1
0.5
0.3
-0.5
1.1
0.6
-1.0
-oa
-0.5
oa
0.6
53
47
73
74
49
\
L,C,U
L,C,U
Percent
do
do. ...
84.4
84
85.6
NA
85.9
83
85.4
82
84.6
-0.5
NA
-1
-oa
85.6
87.2
87.3
87.2
86.3
70.16
41.47
37.54
77.25
41.45
36.98
76.32
41.36
37.13
74.71
39.67
36.01
76.61
39.55
35.22
75.42
38.98
34.84
77.75
39.77
34.54
81.08
40.50
35.86
3.66
3.24
3.20
0.71
2.17
1.76
3.64
3.03
-0.8
NA
-0.9
82
83
84
B3. Consumption, Trade, Orders, and
Deliveries
Orders and Deliveries:
L,L,L
6. New orders, durable goods
7. New orders, durable goods, 1972 dollars
L,l,L
*8. New orders, cons, goods and mtls., 1972 dol. . L,L,L
25. Chg. in unfilled orders, durable goods2
L,L,L
96. Mfrs.' unfilled orders, durable goods5
L,Lg,U
*32 Vendor performance2 ©.
l,U
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
68 Index of consumer sentiment©
Bil. dol
do. ...
do
do. ...
Bil. dol., EOF
Percent
c.c.c
Bil. dol
C.C.C
C,L,C
C,L,U
L,LL
do. ...
1967=100...
Mil. dol
do. ...
A.r., bil. dol.
1 Q 1966=100
L,L,L
L,L,L
1967-100...
Number. . , .
u.uu
L,C,C
228.18 2 6 7 . 0 7 2 5 8 . 4 6 2 6 0 . 5 8 2 6 7 . 0 7 2 6 3 . 4 4 2 6 7 . 0 7 270.10
64
63
74
•47
49
55
49
43
254.10
156.21
149.1
64,972
44,208
68.0
79.4
288.12
159.67
150.5
73,707
44,685
69.4
66.0
282.15
158.95
151.0
71,694
44,003
68.2
66.6
292.67
159.92
149.6
74,698
44,958
67.9
63.9
299.89
158.69
149.2
76,282
44,846
67.3
62.1
299.26
158.21
148.9
76,427
44,957
63.3
301.35
NA
158.09
NA
148.9
148.4
76,809 78,545
4 4 , 7 6 0 45,141
61.0
67.0
3.1
2.0
-0.9
1.88
1.4
2
0.7
-0.1
0.0
0.5
-0.4
-3.6
4.3
1.8
3.8
-0.61
1.1
-1
NA
NA
-0.3
2.3
0.9
9.8
-2.1
-4.1
-3.0
-2.49
0.8
-19
3.7
0.6
-0.9
4.2
2.2
-0.4
-4.1
2.5
-0.3
-2.2
1.46
2.5
-6
2.5
-0.8
-0.3
2.1
-0.2
-0.9
-2.8
6
7
8
25
96
32
56
57
75
54
59
55
58
B4. Fixed Capital Investment
Formation of Business Enterprises:
*12 Nat business format! on
13. New business incorporations
132.9
39,988
NA 130.8
131.5
NA 4 3 , 3 2 4 4 4 , 0 8 4
NA 131.3
NA 44,811
NA
NA
NA
NA
NA
NA
NA
NA
0.5
1.8
NA
NA
12
13
Basic data1
Series title
Timing
classification3
Unit
of
measure
Percent change
Average
1978
1979
2dQ
3dQ
4th Q
1979
1979
1979
Nov.
1979
Dec.
1979
Jan.
1980
Series number
1
Table 1. Summary of Recent Data and Current Changes for Principal Indicators—Continued
Jan,
1980
2dQ
to
3dQ
30Q
to
4th Q
1979
1979
-4.6
-1.6
7.9
10
-4.7
-1.1
8.2
4.0
20
24
5.2
27
Nov.
Dec.
to
to
Dec.
1979
I. CYCLICAL INDICATORS-Con.
B4. Fixed Capital Investment-Con.
Business Investment Commitments:
1 0. Contracts and orders, plant and equipment . .
*20. Contr. and orders, plant and equip.,
1972 dol
24. New orders, cap. goods Indus,, nondefense ...
27. New orders, capital goods industries, nondefense, 1972 dollars
9. Construction contracts, commercial and industrial buildings, floor space
11. New capital appropriations, mfg
97. Backlog of capital appropriations, mfg.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
2-2.01
25.14
24.31
23.92
25.80
25.36
27.90
26.63
LLL
L,L,L
do. . . .
do. ...
13.60
18.30
14.50
21.65
14.11
21.16
13.45
20.93
14.55
21.76
14.48
21.42
15.65
22.86
14.58
23.14
8.1
6.7
-6.8
L,L,L
do. ...
11.42
12.69
12.46
11.93
12.55
12.53
13.14
12.88
4.9
-2.0
-4.3
L,C,U Mil. sq.ft. ..
U,Lg,U Bil.dol
C,Lg,Lg Bil.dol., EOP
80.73
16.78
63.43
90.34
22.67
77.85
88.25
21.03
70.15
88.17
22.55
73.58
86.02
24.52
77.85
84.13
8 0 . 7 9 106.12
31.4
-0.1
. L.L.L
Bil.dol
C,Lg,Lg A.r., bil. dol.
153.82 176.37 173.48 179.33 184.32
do. . . .
C,Lg,Lg
C,Lg,U 1967=100...
C,Lg,C A.r., bil. dol.
2 3 0 . 2 2 2 7 0 . 8 3 2 6 3 . 2 4 277.41 2 8 2 . 0 0 277.12
160.3
172.2
171.4
170.5
173.1
172.7
140.1 148.6
146.9
150.7
149.8
L,L,L
L,L,L
L,L,L
A.r., thous. .
1967=100...
A.r., bil. dol.
2,020
145.4
1,744
123.0
60.1
56.7
1,820
128.5
56.7
1,809
133.5
56.5
1,583
109.0
1,522
102.0
286.06
174.5
1,517
100.5
NA
176.3
1,420
102.1
10.0
-4.0
3.2
1.0
-0.3
-1.5
1.2
NA
1.0
-6.4
1.6
55.9
7.2
4.9
8.7
5.8
9
11
97
3.4
2.8
61
5.4
1.0
2.6
1.7
0.5
69
76
86
-0.6
3.9
-0.4
-2.4
-0.6
-1.1
28
29
89
-4.6
30
-18.46
36
31
38
-12.5
-18.4
B5. Inventories and Inventory Investment
Inventory Investment:
30. Chg. in business inventories, 1972 dol.2
*36. Change in inventories on hand and on order,
1 972 dollars (smoothed6)2
31. Chg. in book value, mfg. and trade invent.2 ..
38. Chg. in mtl. stocks on hand and on order 2 . . .
Inventories on Hand and on Order:
71 Mfg and trade inventories total 5
*70. Mfg. and trade invent., total, 1972 dol.5
85 Mfrs ' inventories of finished goods5
77. Ratio, inventories to sales, mfg. and trade,
constant dollars2
78. Materials and supplies, stocks on hand and on
order5
do. ... j
L,L,L
LLL
L,L,L
L,L,L
do. ...
do. ...
Bil.dol
Lg,Lg,Lg Bil.dol., EOP
do. ...
Lg,Lg,Lg
do. ...
Lg,Lg,Lg
Lg,Lg,Lg Ratio
10.0
10.74
17.42
11.17
41.5
2.04
46.7
2.55
56.3
2.51
45.5
1.28
18.1
2.5
-11.0
-7.29
-9.09
-8.88
35.8
2.08
38.2
2.00
22.8
1.44
379.63 4 2 6 . 2 9 4 0 5 . 9 7 417.33 4 2 6 . 2 9 424.. 39 4 2 6 . 2 9
2 4 9 . 5 9 2 5 7 . 6 5 256.18 2 5 7 . 6 3 2 5 7 . 6 5 258.12 2 5 7 . 6 5
70.42 68.26
70.42
63.80
69.95
70.42 69.74
1.57
L,Lg,Lg Bil.dol., EOP
7.1
14.1
18.96
1.60
1.61
167.95 198.53 188.46
1.62
192.30
1.63
1.63
1.63
198,53 197.09 198.53
NA
NA
NA
0.21
-15.4
-0.56
NA
NA
NA
-0.2
NA
0.0
NA
0.4
1.0
0.7
NA
NA
NA
-6.25
-10.8
-1.23
NA
NA
NA
2.8
0.6
2.5
NA
0.01
0.01
77
NA
2.0
3.2
78
-9.7
0.80
2.1
0.0
0.7
71
70
65
B6. Prices, Costs, and Profits
Sensitive Commodity Prices:
*92. Chg. in sensitive prices (smoothed6)2
23 Industrial materials prices®
L,L,L
U,L,L
Percent
1967=100...
1.23
2.08
1.97
2.10
2.43
2.51
2.56
2.52
231.0
293.0
294.1
297.6
307.1
304.0
309.6
316.2
1.8
-0.04
2.1
Stock Prices:
*19 Stock prices 500 common stocks (S)
L,L,L
194143=10.
9 6 . 0 2 103.01 101.18 106.22 105.30 103.66
107.78 110.87
4.0
2.9
L,L,L
L.L.L
L,C,L
L.C.L
L.L.L
AJ., bil. dol.
121.5
Profits
16.
18.
79.
80
1 5.
26.
and Profit Margins:
Corporate profits after taxes
Corp. profits after taxes, 1972 dollars
Corp. profits after taxes, with 1 VA and CCA . .
do
in 1972 dol....
Profits (after taxes) per dol. of sales, mfg.2 . . .
Ratio, price to unit labor cost, nonfarm bus
Cash Flows:
34 Net cash flow, corporate
35. Net cash flow, corporate, 1972 dollars
Unit Labor Costs and Labor Share:
63. Unit labor cost, private business sector
68, Labor cost (cur. dol.) per unit of gross
domestic product (1972), nonfin. corp
*62. Labor cost per unit of output, mfg
64. Compensation of employees as percent of
national income2
UL.L
L,L,L
UL,L
do. . . .
do. ...
do. ...
78.5
83.1
54.2
Cents
1967=100...
95.6
A.r., bil. dol.
do. ...
194.1
121.5
5.4
0.05
NA
NA
NA
NA
NA
0.13
1.2
5.0
0.33
3.2
-0.9
144.5
NA
NA
NA
NA
139.3
148.3
83.7
87.9
53.4
86.9
86.8
51.5
94.3
94.4
94.2
217.3
127.4
228.3
130.5
NA
NA
5.1
2.4
NA
NA
NA
NA
5.6
5.8
6.5
3.8
-1.3
-3.6
0.2
94.0
-0.2
NA
NA
NA
NA
NA
-0.2
92
23
19
16
18
79
80
15
26
34
35
Lg,Lg,Lg 1967=100...
194.2
214.4
211.7
217.0
221.1
2.5
1.9
63
Lg,Lg,Lg Dollars
Lg,Lg,Lg 1967=100. . .
1.020
164.1
1.114
175.4
1.104
174.2
1.127
176.0
NA
179.9
2.1
1.0
NA
2.2
68
62
75.9
75.8
NA
64
Lg,Lg,Lg Percent
75.7
NA
179.7
181.7
182.4
1.1
0.4
NA
-0.1
B7. Money and Credit
Money:
85 Change in money supply (Ml) 2
102. Change in money supply plus time deposits at
commercial banks (M2)2
*1Q4. Chg. in total liquid assets (M7) (smoothed6)2 .
105. Money supply (M1), 1972 dollars
*106 Money supply (M2) 1972 dollars .
LLL
Percent. . . .
0.54
0.46
0.95
0.79
0.26
0.11
0.45
0.29
0.34
-0.16
-0.16
-0.53
85
L,C,U
L.L.L
L,L,L
1,1,1
do. ...
do. ...
Bil.dol
;
.do, ...
0.69
0.97
0.67
0.93
0.94
1.03
1.00
0.99
0.57
0.83
0.53
0.86
0.45
0.66
0.30
0.56
-0.08
-0.20
-0.15
-0.10
0.06
-0.04
-0.43
-0.16
226.1
542.7
213.8
526.9
214.8
527.0
213.5
526.5
209.6
521.7
209.5
522.3
207.9
518.3
205.4
512.1
-0.8
-0.8
-1.2
-1.2
-0.6
-0.1
-1.8
-0.9
102
104
105
106
Velocity of Money:
107 Ratio, GNP to money supply (Ml) 2
108. Ratio, pers. income to money supply (M2)2 ..
C.C.C
C,Lg,C
Ratio
6.028
2.027
6.386
2.103
6.345
2.102
6.372
2.099
6.459
2.110
2.109
2.123
2.130
0.014
0.007
0,087
0.011
107
108
Credit
33.
11 2
1 13.
1 10.
L,L,L
L,L,L
L,L,L
L,L,L
A.r.,bil.dol.
86.85
90.83
90.54
78.19
86.64
do. ...
14.27
9.79
26.40
31.61 38.15
do. . . . 4 4 . 3 5
37.34
24.57
35.70
39.88
do. ... 3 4 6 . 6 3 3 5 7 . 0 2 3 6 4 . 2 2 4 2 0 . 5 8 2 9 3 . 4 8
74.28
21.10
28.88
52.94
NA -21.34
4 2 . 7 8 -16.55
NA -10.28
NA
38.23
NA
-12.35
-28.36
- 2 . 5 4 -12.77
15.5
-30.2
33
112
113
110
Flows:
Change in mortgage debt3
Change in business loans2
Change in consumer installment debt2
Total private borrowing
do. ...
4.55
18.60
0.027
-0.003
3.69
6.54
Table 1. Summary of Recent Data and Current Changes for Principal Indicators—Continued
Basic data1
Timing
classification1
Series title
,_
Percent change
Unit
Average
of
Nov.
measure
1978
1979
2dQ
3dQ
4th Q
1979
1979
1979
Nov.
1979
Dec.
1979
Jan.
1980
2dQ
to
30Q
3dQ
to
4th Q
1979
1979
NA
NA
NA
-0.14
NA
-0.05
14
39
-2
-111
-150
340
588
93
94
Dec.
to
to
Dec.
1979
Jan.
1980
.i
£
1, CYCLICAL INDICATORS-Con.
B7. Money and Credit-Con,
Credit Difficulties:
14. Liabilities of business failures (inv.4K§)
39. Delinquency rate, instal. loans (inv.4)2 s
L,L,L
L,L,L
Mil.dol
Percent, EOP
Bank Reserves:
93. Free reserves (inverted 4 ) 2 © . . . .
94. Borrowing from the Federal Reserve 2 ©
L.U.U
ULg.U
Mil.dol
ULg.Lg
C,Lg,lg
C.Lg.Lg
Lg,Lg,Lg
Percent
Interest Rates:
119. Federal funds rate3®
114. Treasury bill rate 2 ®
115. Treasury bond yields2®.
116. Corporate bond yields2©
1 17 Municipal bond yields2©
118. Mortgage yields, residential2®
67. Bank rates on short-term bus. loans2©
*1Q9. Average prime rate charged by banks2©
Outstanding Debt:
66. Consumer installment debt5
*72. Commercial and industrial loans outstanding,
weekly reporting large comm. banks
*95. Ratio, consumer install, debt to pers. income2.
221.33
2.45
-679
do. . . .
872
7.94
7.22
7.89
8.98
6.02
9.75
9.80
9.06
. ..
...
. ..
...
...
...
...
NA 2 3 8 . 7 9
2.64
2.45
-1,104 -1,188
NA
2.59
NA
2.64
NA
2.50
-1,077 -1,417 - 1 , 6 9 9
NA
2.64
-951
NA
NA
-949
1,337
1,357
1,207
1,795
1,908
1,454
1,264
11.19
10.04
10.18
10.95
13.58
11.80
13,. 18
11.87
13.78
12.07
9.61
9.80
9.58
13.82
12.04
10.03
11.65
U(lg,Lg
Lg,Lg,Lg
Lg,Lg,Lg
Lg,Lg,lg
do.
do.
do.
do.
do.
do.
do.
Lg.Lg.Lg
Bil.dol., EOP
303.33
303.33
287.85
297.19
303.33
Lg,lg,Lg
Lg,Lg,Lg
Bil.dol
Percent
126.31 1 4 7 . 0 7
143.95
152.40
8.74
10.05
6.52
10.89
13.18
12.67
9.37
8.44
9.67
6.22
9.63
8.48
9.64
6.28
NA
12.34
11.72
10.80
12.31
12.12
NA
-0.14
-748
-454
-190
0.04
0.60
0.20
-0.03
0.45
0.35
0.13
0.36
-0.05
0.77
0.26
0.04
2.63
2.17
1.13
1.69
0.92
119
114
115
116
117
118
67
109
7.30
7.22
7.35
12.41
12.24
12.60
-0.22
-0.22
-0.08
-0.17
15.55
15.30
15.25
-0.25
301.78
303.33
NA
0.5
NA
3.2
2.1
66
154.92 154.21 154.59
158.16
0.2
-0.07
2.3
NA
5.9
1.7
-0.02
72
95
1.1
0.2
1.4
1.4
0.2
0.0
2.1
3.3
0.1
1.3
2.1
2.9
0.0
2.5
310
320
320
322
3.1
4.2
4.1
1.6
3.6
3.4
3.9
4.1
2.0
4.0
330
331
332
333
334
2.0
340
-1.1
341
345
346
370
11.33
7.20
NA
15.81
15.08
11.52
11.30
15.06
14.99
227.5
229.9
1.0
241.4
1.2
1.4
244.8
244.8
249.4
302.2
259.9
224.5
229.6
254.7
299.5
227.1
246.9
298.3
257.0
222. 8
227.4
14.34
15.00
15.06
15.07
15.05
1972=100...
1967-100...
Percent
1967-100...
152.0
195.4
0.7
211.4
165.5
217.4
1.0
163.8
214.1
1.0
167.2
221.1
1.1
170.7
234.5
233.2
236.2
242.0
do.
do.
do.
do.
do.
209.3
240.2
235.5
282.2
242.7
231.8
275.6
237.3
216.6
215.5
215.1
210.8
239.1
287.1
247.1
218.5
218.4
247.2
298.3
257.2
222.8
NA
-0.03
0.06
NA
-0.03
0.40
0.01
NA
3.50
2.96
II. OTHER IMPORTANT ECONOMIC
MEASURES
B. Prices, Wages, and Productivity
B1. Price Movements
310
320.
320c.
322.
330.
331.
332
333
334
Implicit price deflator, GNP
Consumer prices (CPI),all items©
Change in CPI, all items, S/A2
CPI, food
Producer prices (PPI), all commodities ©
PPI, crude materials
PPI intermediate materials
PPI capital equipment
PPI finished consumer goods
j
...
. ..
. ..
. ..
...
215.5
199.1
192.6
227.6
1.1
233.2
267.1
228.2
233.2
1.0
1.3
1.1
0.8
1.0
2.1
-0.9
2.8
1.6
1.6
B2. Wages and Productivity
340. Average hourly earnings, production workers,
private nonfarm economy
341 . Real average hourly earnings, production
workers, private nonfarm economy
345. Average hourly compensation, nonfarm bus. . .
346. Real avg. hourly comp., nonfarm business . . .
370. Output per hour, private business sector
do. . . .
212.9
229.8
227.8
232.5
237.2
237.3
239.3
239.8
do.
do.
do.
do.
109.0
105.8
105.2
104.0
104,1
103.7
102.5
228.7
246.8
249.2
254.4
117.0
120.1
113.2
118.1
106.4
244.1
114.0
118.2
112.9
117.8
111.7
117.6
...
...
...
...
0.8
-0.4
0.2
-1.2
2.1
-1.1
2,1
-1.0
-0.3
2.1
-1.1
-0.2
C. Labor Force, Employment, and
Unemployment
441 .
442
37
444
445.
446.
Labor
451.
452.
453.
Total civilian labor force
Total civilian employment
Number of persons unemployed
Unemployed males 20 years and over
Unemployed females, 20 years and over
Unemployed persons, 16-19 years of age
i
|
Millions
'
do. . . .
Thousands. .
do. . . '
do. . . .
do. . . .
Force Participation Rates:
Males, 20 years and over 2
Females, 20 years and over 2
Bothsexes, 16-19 years of age2
Percent
do. . . .
do. . . .
100.41 102.91 102.36
96.94
96.46
94.37
5,890
6,047
5,963
2,252
2,223
2,163
2,236
2,201
2,213
103.24
97.23
6,008
2,274
2,209
103.75
97.66
6,084
1,559
1,528
1,526
1,524
1,531
2,197
1,512
79.8
49.6
58.0
79.8
50.6
58.1
79.7
50.3
57.9
79.9
50.9
57.5
79.6
51.0
58.2
79.5
50.9
58.1
497.8
508.7
485.8
492.9
-7.0
345.9
504.8
NA
516.1
-11.3
539.2
2,318
2,235
103.65
104.00
97.61
97.91
6,044
2,335
6,087
2,303
2,257
1,527
79.5
51.1
58.6
104.23
97.80
6,425
2,577
2,304
0.3
0.3
0.7
-1.4
1,545
2.7
1.0
79.4
51.4
58.2
0.0
0.2
0.5
0,2
-oa
5 , ,6
11,9
2«1
1-2
-oa
0,3
-0.4
0.9
0.8
2.0
5.1
0.4
-0.1
0.2
0.6
-0.4
0.5
0.4
1.3
1.9
1.2
0.5
441
442
37
444
445
446
0.1
0.7
451
452
453
NA
4.5
NA
NA
2.4
NA
501
502
500
511
512
510
NA
NA
517
525
548
564
-0.3
D. Government Activities
D1. Receipts and Expenditures
501.
502.
500.
51 1.
51 2.
510.
Federal Government receipts
Federal Government expenditures
Federal Government surplus or deficit 2
State ond local government receipts
State and local government expenditures
State and local govt. surplus or deficit 2
517
525.
548
564.
Defense Department obligations . . . .
Military prime contract awards
New orders defense products
National defense purchases
A.r..bil.dol.
—
do.
do.
do.
do.
do.
...
...
...
...
...
432.1
459.8
-27.7
331.0
303.6
27.4
-11.0
354.7
329.9
24.8
326.1
19.7
359.8
334.5
25.3
3.9
4.7
NA
NA
-4.3
4.0
2.6
5.6
342.6
NA
D2. Defense Indicators
Mil.dol
do. . . .
do. . . .
A.r.,bil.dol.
10,360
5,157
3,468
99.0
NA 1 0 , 3 8 6 11,891
NA 4 , 9 2 4
5,927
3,189
3,109
106.0
108.3
109.0
3,287
NA 1 0 , 7 3 0
NA
NA
4,019
114.6
3,603
NA
NA
NA
NA
3,776
3,670
NA
NA
-6.0
NA
NA
-2.8
14.5
20.4
2.6
2.8
13.0
5.1
E. U.S. International Transactions
E1 . Merchandise Trade
602.
604.
606.
612
614.
616.
Exports, total except military aid
Exports of agricultural products
Exports of nonelectrical machinery
General imports total .
Imports of petroleum and products . . „
Imports of automobiles and parts
Mil.dol. . . .
do.
do.
do.
do
do.
...
...
...
...
11,955
2,483
2,500
14,333
3,278
1,725
15,152 14,261 15,774 16,878
3,101
3,368
2,635
2/896
3,139
3,221
2,866
3,009
17,199 1 6 , 4 3 8 17,873 1 9 , 0 4 9
5,101 5 , 9 6 8
4,010
4,676
1,853
1,846
1,926
1,887
17,004
3,415
3,172
18,422
5,351
1,984
16,792
3,434
3,240
19,870
6,502
1,871
NA
NA
NA
NA
NA
NA
-1.2
0.6
2.1
7.9
21.5
-5.7
NA
NA
NA
NA
NA
NA
10.6
17.7
9.5
8.7
27.2
4.3
7.0
8.6
2.6
6.6
17.0
-2.0
602
604
606
612
614
616
Table 1. Summary of Recent Data and Current Changes for Principal Indicators—Continued
Basic data1
Unit
of
measure
Series title
Average
1977
1978
, 1979
Percent change
3d Q
4th Q
1st Q
2dQ
3dQ
4th Q
1978
1978
1979
1979
1979
1979
»_
1st Q
to
2dQ
2dQ
to
3dQ
3dQ
to
4th Q
1979
1979
1979
8
S
II. OTHER IMPORTANT ECONOMIC
MEASURES-Con.
E2. Goods and Services Movements Except
Transfers Under Military Grants
618.
620
622
651
652
668
669
667
Merchandise exports
J.
Merchandise imports
2
Merchandise trade balance
.
Income on U S investments abroad
Income on foreign investment in the U S . . '.'. '.
Exports of goods and services
Imports of goods and services
Balance on goods and services2
do
do
do
do
do
3 0 , .20 4
37,922
-7,718
8,147
3,650
46,149
48,505
-2,356
35,513 4 5 , 6 0 6 3 6 , 5 3 2
43,956 52,887 44,481
- 8 , 4 4 2 -7,281 -7,949
NA 10,526
10,866
NA 5 , 5 7 4
5,455
55,254
NA 5 6 , 2 6 3
NA 5 8 , 1 9 4
57,353
NA -1,931
-2,099
39,412
45,383
-5,971
12,907
6,308
61,414
60,015
1,399
41,300
47,447
-6,147
14,115
7,251
64,893
63,156
1,737
42,744
50,491
-7,747
15,404
7,939
67,758
67,451
307
4 7 , 2 8 8 51,091
3.5
54,602 59,009
6.4
-7,314 -7,918 -1,600
17,506
NA
9.1
8,712
NA
9.5
74,408
4.4
NA
72,272
6,8
NA
2,136
NA -1,430
A.r.,bil.dol
' do
do
do
.....do
A.r.,dollars.....;
do
1340.5
1899.5
1327.4
1305.1
929.5
6,180
4,285
1399.2
2127.6
1385.1
1458.4
972.6
6,401
4,449
1426.6
2235.2
1414.6
1524.8
991.5
6,506
4,522
1430.6
2292.1
1418.4
1572.2
996.6
6,512
4,536
1422.3
2329.8
1404.1
1601.7
993.0
6,460
4,510
1433.3
2396.5
1426.2
1640.0
993.4
6,494
4,501
Mil. dol
'
do
:
dO
':
8.0
8.1
10.6
8.1
433
-604
9.7
9.8
7.1
1,829
NA
NA
NA
NA
NA
0.8
2.9
1.6
2.4
0.0
0.5
0.5
2.6
0.8
2.5
0.2
0.3
13.6
618
620
622
651
652
668
669
667
A. National Income and Product
A1. GNPand Personal Income
50.
200
213.
224
GNP in 1972 dollars
GNP in current dollars
Final sales, 1972 dollars
Disposable personal income, current dollars . , ,
217 Per capita GNP in 1972 dollars
227 Per capita disposable pers income, 1972 dol. ..
1431.7
2369.4
1421.7
1623.7
994.5
6,494
4,511
1407.3
2159.6
1395.1
1476.5
976.2
6,431
4,462
1440.7
2459.4
1438.2
1681.0
994.9
6,511
4,496
-0.6
A.r.,bil.dol
861.7
900.8
921.8
924.6
905.3
915.0
925.9
920.3
935.9
.do
147.2
138.2
146.7
152.1 150.2
147.5
146.9
146.9
144.8
.do
332.7
343.3
351.9
348.1
344.1
349.1
344.7
349.2 355.2
do
390.8
410.8
423.5
426.1
428.3
413.1 4 1 6 . 3
429.9
433.7
do
1210.0 1350.8 1510.0 1369.3 1415.4 1 4 5 4 . 2 1475.9 1528.6 1581.2
do . . . .
213.4
178.8
200.3
212.1
213.8
213.1 2 0 3 . 5
208.7
216.5
do . . .
596.9
481.3
530.6
558.1
571.1
536.7
581.2
604.7
630.6
do
549.8
619.8
6
6
9
.
3
700.0
629.1
686.0
710.6
734.1
645.1
-0.7
-3.6
-1.1
1.6
-1,0
1.9
-0.4
-0.8
-0.6
-0.2
-0.1
50
200
213
224
225
217
227
A2. Personal Consumption Expenditures
231
233
238
239
230
232
236
237
Total, 1972 dollars
Durable goods 1972 dollars
Nondurable goods 1972 dollars
Services 1972 dollars
Total current dollars
Durable goods current dollars
Nondurable goods current dollars
Services current dollars
0.6
1.5
-2.4
1.8
2.5
1.2
1.5
1.5
0.9
3.6
2.3
4.0
3.6
1.1
0.0
1.7
0.9
3.4
1.5
4.3
3.3
231
233
238
239
230
232
236
237
A3. Gross Private Domestic Investment
241
243
30
240
242
245
Total 1972 dollars
Total fixed investment 1972 dollars
Change in business inventories 1972 dol 2 . . ,
Total current dollars
Total fixed investment current dollars
Chg in bus inventories current dol 2
do
. ..do
. . . .do
do
do
do
200.1
186.9
21.9
do
do
do
do
. . . . . . .do
do
214.0
201.8
10.0
12.2
12.0
12.3
18.1
387.2
368.8
356.2
336.1
370.5
349.8
373.8
354.6
395.4
361.9
214.2
207.1
7.1
392.3
377.8
22.3
18.5
20.0
20.6
19.1
33.4
14.5
268.5
100.6
167.9
396.2
144.4
251.8
273.2
274.3
274.7
276.0
273.1
99.4
98.5
99.3
98.1
97.4
174.6
435.6
152.6
283.0
174.9
476.4
166.6
309.8
176.2
440.9
152.3
288.6
274.7
101.1
176.6
173.6
453.8
460.1
163.6
159.0
294.8 . 296.5
272.4
98.6
174.3
466.6
161.7
304.9
175.6
477.8
162.9
314.9
276.9
100.9
176.0
501.2
178.4
322.8
98.4
88.2
10.3
108.9
120.0
102.4
111.9
117.0
100.0
116.0
102.9
122.2
102.1
124.6
104.8
175.9
185.8
207.2
217.5
-10.3
13.1
303.3
281.3
214.3
200.2
14.1
351.5
329.1
215.3
205.3
217.4
205.5
217.2
204.9
221.7
203.5
208.1
205.6
2.5
387.5
380.8
6.7
2.1
-3.4
-0.8
-2.8
-0.7
-4.6
-1.2
14.3
4.4
-18.9
-7.8
-0.8
-3.0
-0.7
-0.7
5.8
5.8
2.1
1.8
-11.0
0.8
241
243
30
240
242
245
A4. Government Purchases
of Goods and Services
261
263
267.
260
262.
266.
Total, 1972 dollars
Federal Government 1972 dollars
State and local governments, 1972 dollars
Total current dollars
Federal Government, current dollars
State and local governments, current dollars . . .
0.4
1.4
-1.2
2.8
0.3
0.7
2.4
0.7
3.3
1.4
3.6
0.2
4.9
9.5
2.5
261
263
267
260
262
266
2.0
2.6
256
257
255
252
253
250
A5. Foreign Trade
256
257
255
252
253
250.
do
do
do
do
do
do
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 do)
Imports of goods and services currentdol
Net exports of goods and serv., current dol.2 . .
-9.9
97.9
11.0
113.8
101.0
' -0.9
2.9
17.5
98.5
13.3
12.9
17.0
13.2
20.1
19.8
-3.8
257.8
262.0
213.8
220.6
224.9
229.4
243.7
251.9
267.3
269.5
-4.2
-6.8
-4.5
238.5
234.4
4.0
-8.1
-2.3
281.8
292.3
-10.5
2.2
7.5
-12.1
1869.0 1897.9 1941.9
NA
1411.2 1 4 3 9 . 7 1472.8 1513.1
129.0
129.3
130.3
134.6
NA
176,6
180.8
178.9
1.5
2.0
0.2
5.3
-0.8
6.9
9.7
7.0
5.8
-0.3
5.4
8.5
-8.2
A6. National Income and Its Components
220
280
282.
286
284
288
do
do
do
.do
do
do
National income
Compensation of employees
Proprietors' income with IVA and CCA . . . . . .
Corporate profits with IVA and CCA
Rental income of persons with CCA
Net interest
....
1 5 2 5 . 8 1 7 2 4 . 3 1925.1 1752.5 1 8 2 0 . 0
1156.9 1 3 0 4 . 5 1 4 5 9 . 2 1321.1 1 3 6 4 . 8
117.4
100.2
116.8
125.7
130.8
150.0
167.7
184.8
178.7
175.2
-1.3
-1.8
24.7
94.0
25.9
26.9
26.8
27.1
27.3
26.8
26.6
27.0
109.5
129.5
111.9
117.6
122.6
125.6
131.5
138.4
2.4
276.1
230.7
324.6
253.0
364.3
NA
332.7
259.6
346.9
264.7
362.2
266.0
374.3
274.6
367.3
281.9
NA
NA
65.0
72.0
-0.3
73.2
13.8
70.9
71.5
10.8
79.2
15.8
85.9
12.7
70.3
14.0
3.3
3.2
8.5
NA
2.7
3.3
NA
1.5
5.2
220
280
282
286
284
288
2.7
-18,2
1.3
NA
NA
-18.2
NA
-1.1
-0.9
290
295
292
298
293
2.3
2.3
0.8
2,4
-0.7
4.7
A7. Saving
290
295
292
298
293
Gross saving (private and govt )
Business saving
Personal saving
Government surplus or deficit2
Personal saving rate2
do
do
do
do
.....'
Percent
-19.5
5.0
4.9
4.5
2.3
4.8
4.7
5.0
5.4
4.3
57.5
NA
3.4
-3.1
0.4
-1.9
NOTE: Series are seasonally adjusted except tor those indicated by®, which appear to contain no seasonal movement. Series indicated by an asterisk (*) are included in the major composite indexes. Dollar values are in
current dollars unless otherwise specified. For complete series titles (including composition of the composite indexes) and sources, see 'Titles and Sources of Series" at the back of BCD. NA = not available, a = anticipated.
EOP = end of period. A.r. = annual rate. S/A = seasonally adjusted {used for special emphasis}, IVA = inventory valuation adjustment. CCA = capital consumption adjustment. Nl A = national income accounts.
1
For a few series, data shown here have been rounded to fewer digits than those shown elsewhere in BCD. Annual figures published by the source agencies are used if available.
2
Differences rather than percent changes are shown for this series.
3
The three-part timing code indicates the timing classification of the series at peaks, at troughs, and at all turns: L = leading; C = roughly coincident; Lg = lagging; U = unclassified.
4
Inverted series. Since this series tends to move counter to movements in general business activity, signs of the changes are reversed.
5
End-of-period series. The annual figures (and quarterly figures for monthly series) are the last figures for the period.
6
This series is a weighted 4-term moving average (with weights 1, 2, 2,1) placed at the terminal month of the span.
CYCLICAL INDICATORS
A I
COMPOSITE INDEXES AND THEIR COMPONENTS
Chart Al. Composite Indexes
(Nov.) (Oct.)
P
(July)(May)
T
P
;:'
(Aug.)(Apr.)
T
P
P
i;
<;•
(Die.) (Nov.)
<Apr.)(Feb.)
T
T
P
f
..
.
T
(Nov.) (Mar.)
P
!j
i;
T
IDU-
;
150-
910. Into of twelve loring indicators Series 1. 3r 8, 12, 19, 20, 29r 32, 36, 92, 104, 106)
!;
:
•
;
\
:
;
-11
^~-^
-
_^/
/ |\: ^
~<s v
]}
i
:;
-?
*" . i
i
X^^^^
/^
"
4
140-
V
Hi
130120110100-
'
90-
I
80-
-23
ISO-
i
140-]
130120-
920. Index of four rougtily cointident indicators (series 41, 47, 51, 57)
'
r
80-
200190180*
170°
ISO1SO140130120-
930. Index of six lagmg indotors (series 62, 70,12, 91, 95, 109)
100-
+2
70-
Bi
St S3 S4 5§ 56 87 5S S®
63 64
NOTE: Number* 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
FEBRUARY 1980
ItCIt
CYCLICAL INDICATORS
A
COMPOSITE INDEXES AND THEIR COMPONENTS-Continued
Chart Al. Composite Indexes—Continued
(Nov.) (Oct.)
P
T
(July)(May)
P
T
(Aug.)(Apr.)
P T
(Apr.)(Feb.)
P
T
"y
"T
"~"f
. |
913J Marginal
(Dec.) (Nov.)
P
T
(Nov.) (Mar.)
P
T
adjustments (series 1, 2, 3, 5)
1101009080-
120-
914 Capital investmett 'commitments (series 12. 20. 29)
I
iS
11010090-
^2
915, Inventory investn^nt and purchasing (series 8, 32, 36, 92) J[
t
120-
i1
11010090-
110100-
V-
90-
s
Qlfi Pmfifohilitu /corioc 10 7fi
917. M(m
and finanei flows (series 104, 106, 110)
/-
100-
-8
9080-
70-
W^r%
60-
940, Ratio, coincident index to lagging Mpt
-^j
\
1201101009080-
1948 49 50 51 52 53 54 55 56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 71 72 73 74 75 76 77 78 79 1980
NOTE: Numbers entered on the chart indicate length of leads (-) and lags (+) In months from reference turning dates.
Current data for these series are shown on page 60,
BCII
FEBRUARY 1980
11
CYCLICAL INDICATORS
A |
COMPOSITE INDEXES AND THEIR COMPONENTS—Continued
Chart A2. Leading Index Components
(Nov.) (Oct.)
P
T
(July)(May)
P T
(Aug.) (Apr.)
P I
(Apr.) (Pet)
P T
(Dee.) (Nov.)
P
T
(Nov.) (Mar.)
P
T
1. Average workweek, production workers,
3. Layoff rate, manufacturing (per 100 employees-inverted scale)
32. Vendor performance, percent of companies
20. Contract^ and orders
1972 dollars (biL"«.)
^Current data for these series are shown on pages 61, 64, 65, and 66.
12
FEBRUARY 1980
BCII
CYCLICAL INDICATORS
A
1
COMPOSITE INDEXES AND THEIR COMPONENTS—Continued
Chart A2. Leading Index Components—Continued
(Nov.) (Oct.)
P
(Aug.) (Apr.)
(July)(May)
T
P
T
P
(Apr.) (Feb.)
T
P
(Dec.) (Nov.)
T
P
T
(Nov.) (Mar.)
P
T
29. New building permits, private o u s s (index: 196=100)
36. Net change in inventories on hand and on order, 1972 dollars, smoothed1 (ann. rate, bit. doi.)
92. Change in sensitive prices, smoothed1 (percent)
104. Change in total liquid assets, smoothed1 (percent)
19. Stock prices, 500 common stocks
(index: 194143=10)
U
106. Money suppfy-M2-in 1972 dollars (bil. dol.)
I
1© §31
W,
i3
m
gi ii
$7
g§
@f
i©
dH
il di
©4 ii di d>J
1
This series is a weighted 4-term moving average (with weights 1,2,2,1) placed on the terminal month of the span.
Current data for these series are shown on pages 67, 68, 69, and 71.
BCD
FEBRUARY 1980
13
CYCLICAL INDICATORS
IA
COMPOSITE INDEXES AND THEIR COMPONENTS—Continued
Chart A3. Coincident Index Components
(Nov.) (Oct.)
P
T
(July)(May>
P
T
(Aug.)(Apr.)
P T
(Nov.) (Mar.)
P
T
(Dec.) (Nov.)
P
T
(Apr.)(Fcb.)
P
T
41, Employees on nonagricurtural
51. Personal income less transfer payments.
57. Manufacturing and trade sales, 1972 dollars (bit, dd.)
1948 49
SO SI
52
S3
S4
55
56
57
SS
59
60
Si
62
63
64
65
66
67
68
69
70
71
/"
72
73
74
75
76
77
78
79 1980
Current data for these series are shown on pages 62, 63, and 65.
14
FEBRUARY 1980
CYCLICAL INDICATORS
COMPOSITE INDEXES AND THEIR COMPONENTS—Continued
Chart A4. Lagging Index Components
(Nov.) (Oct.)
P
(July)(May)
T
P
T
(Aug.) (Apr.)
P
(Dec.) (Wow.)
(Apr.) (Feb.)
T
P
T
P
T
(Nov.) (Mar.)
P
T
91 Average duration of unemployment (weeks—inverted scale)
\/V
70. Manufacturing and trade inventories, 1972 dollars (bil.
140*
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, weekly
reporting large commercial banks (bil. dol^
L
1948 49 50 51 §2 53 54 55 56 57 58 59 60 @1 S2 63 64 65 66 67
Current data for these series are shown on pages 62, 68, 70, and 73.
itcn
FEBRUARY
1980
15
B
I
CYCLICAL INDICATORS BY ECONOMIC PROCESS
Chart Bl. Employment and Unemployment
(Aug.) (Apr.)
P
T
(Apr.) (Feb.)
P
T
(Dec.) (How.)
P
T
(Nov.)
P
(Mar.)
T
| Marginal Employment Adjustments]
421
21. Average weekly overtime hours, production workers, manufacturing (hours)
2. Accession rate, manufacturing (per 100 employees)
5. Average weekly initial claims, State unemployment insurance (thousands-inverted scale)
3. Layoff rate, manufacturing (per 100 employees-inverted scale)
4. (£ut rate, manufadurin| (per 100
Current data for these series are shown on page 61.
16
FEBRUARY
1980
CYCLICAL INDICATORS
B
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued
.-
Chart Bl. Employment and Unemployment—Continued
(Aug.) (Apr.)
P
(Apr.) (Feb.)
T
P
T
(Dec.) (Now.)
(Nov.)
P
(Mar.)
T
60. Ratio, help-wanted advertising to number
of persons unemployed (ratio)
46. Help-wanted advertising (kxtec 1967=100)
|Comprehensive Employment!
48. Employee-hours in nonagricuftural establishments
(aim, rate, bit. bouts)
42. Persons engaged in nonagricultural activities (millions)
OZc
41. Employees on nonagricuftural payrolls (millions)
40, Employees in goods-producing industries—mining,
"" mahufadurihgr consttiitfion~(m!Rm$)
Current data for these series are shown on pages 61 and 62.
KCII
FEBRUARY 1980
17
CYCLICAL INDICATORS
B I
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued
Chart Bl. Employment and Unemployment—Continued
(Aug.) (Apr.)
P
T
(Apr.) (Feb.)
P
T
(Nov.)
P
(Dec.) (Nov.)
P
T
(filar.)
T
| Comprehensive Employment—CoiTI
60-
90. Ratio, civilian employment to total population of worthing age (percent)
J
—w
A
§857S6§554-
I Comprehensive Unemployment!
37. Number unemployed, total (n*ons—inverted scale)
ESS
I\
6-
41 Unemployment rate, total (percent-inverted scale)
3-
\
78*
i-
45. Average weekly insured unemployment rate (percent-inverted scate)
23-
91. Average duration of unemployment (weeks—inverted scale)
W12-
5
1618-
44. Unemployment rate, persons unemployed 15 weeks aid over (percenMnwgrted scale)
1-
1956 97
58
59
60
61
62
63
64
65
66
67
68
69
70
71
72
73
74
73
76
77
78
79
80 1981
Current data for these series are shown on page 62.
18
FEBRUARY 1980
IICII
CYCLICAL INDICATORS
B
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
16001500-
[Comprehensive Output and Income|
r
~f
*
1400*
50. 6NP in 1972 dollars, Q (ann. rate, bil/
[cM]i
13001200110010009008001300-
.s
UJ
52. Personal income in 1972 dollars (ann. rate, bil. dot.)
120011001000900800-
700-
600-
m
51. Personal income less transfer payments in 1972TBRfT
(ann. rate, bil, dol.) j
noo-i
100D900-
700600-
500-
53. Wages and salaries in mining, manufacturing, and
conslmctkHi in 19/2 dollars (ann. rate, bil. dol.)
260-
lil
240220200180160140J
1956
§7
58
59
60
61
62
63
64
65
66
67
68
69
70
71
72
73
74
75
76
77
78
79
80 1981
Current data for these series are shown on page 63.
FEBRUARY
1980
19
CYCLICAL INDICATORS
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued
Chart 82. Production and Income—Continued
(Aug.) (Apr.)
P
T
(Apr.) (Feb.)
P
T
(Dec.) (Nov.)
P
T
(Nov.)
P
(Mar.)
T
I industrial Production 1
(index: 1967=100)
74. Industrial production, nondurable manufactures
(index: 1967=100)
73. industrial production, durable
(index: 1967*100)
[Capacity Utilization]
83. Rate of capacity utilization, manufacturing (BEA), Q (percent)
90 «
82, Rate of capacity utilization, manufacturing (FRB), Q (percent)
'
•^
70-
84. Rate of capacity utilization, materials, Q (percent)
17
m
gi
60
61
®2
S3
64
66
67
74
75
Current data for these series are shown on pages 63 and 64.
20
FEBRUARY
1980
BCII
CYCLICAL INDICATORS
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued
Chart B3. Consumption, Trade, Orders, and Deliveries
(Aug.) (Apr.)
P
(Dec.) (Nov.)
P
T
(Apr.) (Feb.)
T
P
T
(Nov.)
(Mar.)
P
T
[Orders and Deliveries|
7. New ^
orders, durable goods industries,
dollars
~. 1972
——
*
.
H .
New orders, durable goods industries,
current dollars (bil. dol.) 11_ (_'"[_"
25. Change in unfilled orders, durable goods industries
(bil. do!.; MOD moving avg.—4-terni)
96. Manufacturers' unfilled orders, durable goods industries
(bil. dd)
rTTTTi
32. Vendor performance, percent of companies
reporting slower deliveries (percent)
75
Current data for these series are shown on page 64.
ltd)
FEBRUARY 1980
21
CYCLICAL INDICATORS
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued
Chart B3. Consumption, Trade, Orders, and Deliveries—Continued
(Aug.) (Apr.)
P
(Dec,) (Nov.)
(Apr.) (Feb.)
T
P
T
P
(Nov.)
(Mar.)
P
T
T
340-1
320300280260240220200-
iCoSJnption and»de
180-
56. Manufacturing and trade
(bildei)
160140120100-
170-1
160150140130-
75. industrial production,
(iffltec 1967=1
C.LC
85-1
807570656055504540-
59. Sales of retail stores in 1972
35-
DO
90807060-
55. Persona)
(ana rate, tit
5040-
30-
10090807060-
1956
57
58
59
60
61
62
63
64
65
66
67
68
69
70
71
72
73
74
75
76
77
78
79
80 1981
Current data for these series are shown on page 65.
22
FEBRUARY 1980
BCII
CYCLICAL INDICATORS
B I
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued
Chart B4. Fixed Capital Investment
(Aug.) (Apr.)
(Apr.) (Feb.)
P I
P
(Nov.)
P
T
(Mar.)
T
I Formation of Business Enterprises!
12. Net business formation (index: 1967=100)
ILLL
I Business Investment! Commitments|
20. Contracts and orders for plant and equipment
in 1972 dollars (bil. doi.)
10. Contracts and orders for plant and equipment
in current dollars (bil. dk)
27. Manufacturers' new orders, capital goods industries,
rxmdefense, in 1972 dote <bil. doL) X A
L.L.L
. Manufacturers' new orders, capital goods industries,
9. Construction contracts, commercial and industrial buildings *
a
""
1
This is a copyrighted series used by permission; it may not be reproduced without written permission from McGraw-Hill Information Systems Company, F.W. Dodge Division.
Current data for these series are shown on pages 65 and 66,
BCII FEBRUARY
1980
23
CYCLICAL INDICATORS
B I
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued
Chart B4. Fixed Capital Investment—Continued
(Aug.) (Apr.)
P
T
(Apr.) (Feb.)
P
T
(Nov.)
P
(Dec.) (Nov.)
P
T
(Mar.)
T
I Business Investment {Commitments—Con.
11 New capital appropriations, manufacturing. 0 (bil. dol.)
97, Backlog of capital
(bildoi,) nrr.
61. Business expenditures for new plant and equipment, Q
(ann. rate, bii doi,)
Machinery and equipment sate and business
construction expenditures (ana r^e. bil doi.)
76. Industrial production, business eoiuiornent
(index: 1967=100)
57
58
59
60
61
$2
63
04
6S
66
67
68
69
70
71
72
73
74
75
76
77
78
79
80
1981
Current data for these series are shown on pages 66 and 67.
24
FEBRUARY 1980
CYCLICAL INDICATORS
B I
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued
Chart B4. Fixed Capital Investment—Continued
(Aug.) (Apr.)
(Apr.) (Feb.)
P I
P
(Dec.) (Nov.)
P
T
T
(Mov.)
P
(Mar.)
T
I Busihess Investment Expenditures-Con.|
Presidential fixed investment in 1972 dollars, Q (ann. rate, bil. dot.)
140-
86. Total, Q
88. Producers' durable lequipment, Q
87. Structures, Q |lg,Lg,lg
46-
nJ
j Residential Construction Commitments and Investment!
i
28. New private housing units started, total (ann. rate, millions)
29. New building permits, private housing units (index; 1967=100)
89. Residential fixed investment total, in 1972 dollar^ Q
(ann. rate, bit. dol.)
17
i8
§S
8©
61
S2
63
Current data for these series are shown on page 67.
BCII
FEBRUARY 1980
25
CYCLICAL INDICATORS
B
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued
Chart B5. Inventories and Inventory Investment
(Aug.) (Apt)
P
T
(Apr.) (Feb.)
P
T
(Dec.) (Nov.)
P
T
(Nov.)
P
(Mar)
T
[inventory Investment)
30. Change in business inventories* 1972 doHats, Q (ann. rate, bil dol)
36. Net change in inventories on hand and on
order. 19/2 ddtats
(ann. rate, bil. doL; moving avg,—4-teim1)
31. Change in book value,
(aron. rate, bM, doL; MCD moving avj,—5-tenn)
38. Change in stocks of materials and supplies ort hand afkl on order,
manufacturing (bil. dol.; MCD moving avg.—^term | n
1
Thts series Is a weighted 4-term moving average (with weights 1,2,2,1) placed on the terminal month of the span.
Current data for these serlex are shown on page 68.
26
FEBRUARY 1980
CYCLICAL INDICATORS
B I
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued
Chart B5. Inventories and Inventory Investment—Continued
(Nov.)
(Mar.)
P
T
|ln&&tories on Hajjjand on Order
71, Book value, manufacturing and trade '
current defers M dot.)
Manufacturing and trade inventories, 1972 dollars
65. Book value of
of finished
manufacturing and trade
77. Ratio, deflated inventones
(ratio) r77F7[
78. Stocks of materials and supplies on 1 ira and on oroer,
manufacturing (bif. dol.)
JLJIJL,
1956 57
58
JuuL
59
60
„
61
62
,
63
64
65
Li r«Ji_
'
66
67
68
69
70
JLti 'LJiJU
71
72
73
74
75
76
77
78
79
80 1981
Current data for these series are shown on page 68.
KCIft
FEBRUARY 1980
27
CYCLICAL INDICATORS
B I
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued
Chart B6. Prices, Costs, and Profits
(Aug.) (Apr.)
P T
(Apr.) (Feb.)
P
T
(Dec.) (Nov.)
P
T
(Nov.)
P
(Mar.)
T
[Sensitive Commodity! Prices |
92. Change in sensitive prices (percent; moving avg.-4-temi1)
./ \
23. Industrial materials prices (inctee 1967=100)
19, Stock prices, 500 common stocks (index: 194143=10)
16, Corporate profits after taxes, current dollars, Q
(ann. rate, bil. dol.) 177"];
|Profits and Profit Margins!
18. Corporate profits after taxes, 1972 dollars, Q
(torn. rate. ML doLY.
80. Comprate PToffls qfter taxes with IVA ax) CCA,
79. Corporate profits after taxes with IVA and CCA,
current dollars, Q (ann. rate, H» dol,)
1
This serle* It a weighted 4-term moving average (with weights I,2r2tl) placed on the terminal month of the span.
Current data for these series are shown on page 69.
28
FEBRUARY 1980
BCII
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
(Nov.)
P
(Mar.)
T
[Profits and Profit Margins-Con.|
14-
22, Ratio, corporate profits (after taxes) to total corporate domestic
income, 0 (percent)
i
12-
&\. Ratio, coroorate profits (after toes) with inventotv valuation and
capital consumption adjustments to total corporate domestic income,
Q (percent)
6-
15. Profits (after taxes) per dollar of sales, all manufacturing corporations, Q (cents)
26. Ratio, price to unit lato cost, nonfarm business sector, Q (intec 1967-100)
UJ
102-
7?
uvi
260
240-
220-
I Cash; Flows I
35. Net cash flow, corporate, in 1972 dollars, i
(ann. rate, fail, dd)
fijn
120100-
34. Net cash flow, corporate, in current dollars, Q
(ann. rate, bil. dol) [L,L,L|
S7
58
59
60
61
$2
S3
64
65
71
72
75
78
77
Current data for these series are shown on pages 69 and 70.
IICII
FEBRUARY
1980
29
CYCLICAL INDICATORS
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued
Chart B6. Prices, Costs, and Profits—Continued
(Aug.) (Apr.)
F T
(Dec.) (Nov.)
P
T
(Apr.) (Feb.)
P
T
(Nov.)
P
(Mar.)
T
I Unit labor Costs and Labor Share I
240-
220200180160-
140-
63. Unit labor cost, private business sector, Q
(index: 1967=100) fuJ^a
120-
1001.3?
1.2*
U«
1.0-
68. Labor cost (current dollars) per unit of gr^ domestic product
(1972 dollars), nonfinancial cwporations, Q (dote)
/
/
0.7 «
iso146-
6Z Ubor cost per unit of output, manufacturing (index: ""1967=100)
130120110-
64. Compensation of employees as a percent of national income, Q (percent)
72-
>7
B8
Si
S6
61
it
63
70
71
72
73
74
75
76
77
78
79
80 1981
Current data for these series are shown on page 70.
30
FEBRUARY
1980
ItCII
CYCLICAL INDICATORS
CYCLICAL INDICATORS BY ECONOMIC PROCESS-Continued
Chart B7. Money and Credit
(Aug.)(Apr.)
P
T
(Apr.) (Feb.)
P
T
(Dec.) (Nov.)
P
T
(Now.)
(Mar.)
P
T
85. Change in money supply-demand deposits plus currency (Ml)
(percent; MCD moving avg.—6-term) "y*
tl.2-
-0.4-
102. Change in money supply plus time deposits at commercial banks
(M2) (percent; MCD moving avg.-6-term)^
104. Change in total liquid assets (percent; moving avg.-4-term1);
105. Money supply-Ml-in 1972 dollars (bil. dol)
106. Money supply-M2-in 1972 dollars 0t M)\S
7J«
5.54
107. Ratio, GNP to money supply Ml, Q
2.1-
Karro, personal income 10 money suppiy
U"
1956
57
S8
59
60
©1
6t
63
7@
71
J7
78
1
This series is a weighted 4-term moving average (with weights 1,2,2,1) placed on the terminal month of the span.
Current data for these series are shown on page 71.
FEBRUARY
1980
31
CYCLICAL INDICATORS
BJ
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued
Chart B7. Money and Credit—Continued
(Aug.) (Apr.)
P
T
(Apr.) (Feb.)
P
T
(Dec.) (Nov.)
P
T
T
(Nov.)
P
(Mar.)
T
"~
33. Change in mortgage debt (ana rate, bit. dd)
112 Change in bank loans to businesses (am rate, bit dol; j!
MCD moving afc-Wwm) [7771
!!
.,
iiis
113. Change in consumer installment
borrowing, Q (ann. rate, fail dot.)
UU
B7
58
S9
SO
61
62
®3
64
65
66
67
70
71
72
73
74
79
76
77
78
79
80 1981
Current data for these series are shown on pages 71 and 72.
32
FEBRUARY 1980
IICII
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.)
P
T
(Nov.)
P
(Mar.)
T
1 Credit Difficulties I
14. Current liabilities of business failures (mil. dol.inverted scale; MCD moving avg.-6-term)
ioo-
200-
39. Delinquency rate, 30 days and over, consumer installment loans
(percent-inverted scale)
; lill
> -LA
1956
57
§8
ij j
S9
60
' 'i r <'.
' i'j IL- i
61
62
63
64
65
66
67
68
69
70
71
72
73
74
75
76
77
78
79
80
1981
Current data for these series are shown on page 72.
ltd*
FEBRUARY 1980
33
CYCLICAL INDICATORS
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued
Chart B7. Money and Credit—Continued
(Aug.) (Apr.)
P
T
(Apr.) (Feb.)
P
T
(Dec.) (Nov.)
P
T
(Nov.)
P
(Mar.)
T
14
13*
12
11
119. Federal fun* rate (percent)^ A
10-
14. Tmastfv bill rate
11-
116. Corporate bond yields (percent)
10
115, Treasuryjxxxl yields (percent)
C,L
12-
nJlfl-
117. Municipal bood ywkh (percent)
1956
S7
58
S9
60
il
®t
83
64
S5
06
67
68
73
74
7S
76
77
78
79
80 1081
Current data for these series are shown on pages 72 and 73.
34
FEBRUARY
1980
CYCLICAL INDICATORS
B I
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued
Chart B7. Money and Credit—Continued
(Aug.) (Apr.)
P
T
(Dec.) (Nov.)
P
T
(Apr.) (Feb.)
P
T
(Nov.)
P
(Mar.)
T
llnter'est Rates—Con.|!
18-
v/
1514"
131211-
67. Bank rates on short-term business loans (percent)
V
&
^_
10-
109. Average prime rate charged by banks (percent)
;V
|Outstanding Debtj
66. Consumer installment debt (Ml. dd)
72. Commerdal and industrial loans outstanjJJQk
weekly repotting targe commercial
banks (bil. dol.)
—
95. Ratio, consumef fnstaHment debt to personal Income (percent)
jL^p
S7
58
S9
g©
61
S2
63
S7
68
69
70
71
73
74
Current data for these series are shown on page 73.
BCII
FEBRUARY 1980
35
CYCLICAL INDICATORS
DIFFUSION INDEXES AND RATES OF CHANGE
Chart Cl. Diffusion Indexes
(Aug.) (Apr.)
P
T
(Apr.) (Feb.)
P
T
(Nov.)
P
(Dec.) (Nov.)
P
T
(Mar.)
T
950. Twelve leading indicator components (6-mo. span—, 1-mo. span—-)
10050-
951. Four roughly coincident indicator components (6-mo. span—, 1-mo. span—)
100-
HFl
1
l u
952. Six lagging indicator components (6-mo. span—, 1-roa
50-
961. Average workweek, production workers, mamjfacturing-20 industries (9-mo. span*"*—, 1-mo. span-—)
100 T
SO-
962. Initial claims, State unemployment insurance—51 areasj (percent declining; 9-mo. span—, 1-mo. span —-•)
1110 T
SO-
963. Employees on private nonagrkuttural payrolfs~172 Industries (6-mo. span~-, 1-mo. span—)
100"|
SO-
1956
57
58
59
60
61
62
63
64
65
67
68
69
JO
71
72
73
74
75
76
77
78
79
80 1981
Current data for these series are-shown on page 74,
36
FEBRUARY 1980
BCII
CYCLICAL INDICATORS
C
I
DIFFUSION INDEXES AND RATES OF CHANGE—Continued
Chart Cl. Diffusion Indexes— Continued
(Aug.) (Apr)
P
T
(Apr.) (Feb.)
P
(Dec.) (Nov.)
T
P
(Nov.)
(Mar.)
P
T
T
964. Hew orders, durable goods industries-35 industries (9-mo. span—, 1-mo. span—)
so-
0-
965, Newly approved capital appropriations, deftated-17 industries (4-Q moving avg.»-~, 1-Q span
90-
966. Industrial production-24 industries (6-mo.
o967. Industrial materials prices—13 industrial pterials (9-mo, span-r~, l*mo. span—-)
100-
50-
968. Stock prices, 500 common stocks—54-582 industries (9-mo. span—p-, 1-mo. span—)
1091
§0-
960. Net profits, manufacturing-abotrt 700 companies1 (4-Q span)
62
63
64
65
86
67
68
69
70
71
72
73
74
75
7§
77
31981
1
This ts a copyrighted series used by permission; It may not be reproduced without written permission from Dun & Brad$treet, Inc.
Current data for these series are shown on page 75.
KCII
FEBRUARY 1980
37
CYCLICAL INDICATORS
C I
DIFFUSION INDEXES AND RATES OF CHANGE-Continued
Chart Cl. Diffusion Indexes—Continued
(Dec.) (Nov.)
P
T
(Nov.)
P
(Mar.)
T
(Nov.)
P
(Mar.)
T
970, Business ffpitures for new plant and
equipment-*!! industries (1-Q span)
974.liiBipbef
of empioyeesjiiJI^adurini
and trade
(4~Q span)1
111 11 1
T
:
: ::
W" ' "
971. New 'order*, rt^ifacturing (4-Q span)1
'
*K*PHh
' "
70
71
72
1
73
74
75
76
77
78
79 1980
1969 70
71
72
This Is a copyrighted series used by permission; it may not be reproduced without written permission from Dun & Bradstreet, Inc.
surveys of about 1,400 business executives.
Current data for these series are shown on page 76.
38
' " "
K1I76, Selling prices|iiacluring (4-Q span)1
trade (4-Q span)1
177. Selling prices,
1969
'
73
74
75
76
77
78
79
1980
Dun & Bradstreet diffusion indexes are based on
FEBRUARY 1980
KCII
CYCLICAL INDICATORS
C
DIFFUSION INDEXES AND RATES OF CHANGE—Continued
Chart C3. Rates of Change
(Aug.) (Apr.)
P I
(Apr.) (Feb.)
P T
(Dec.) (Now.)
P
T
(Nov.)
P
(Mar.)
T .
Percent changes at annual rate
910c. Composite index of twelve! leading indicators
(series 1, 3, 8, 12, 19, 20, 29, 32, 36, 92, 104,106)"
1-mo. span
3-mo. span <
+30
+20
-10
920c. Composite index of four roughly coincident indicators
(series 41, 47, 51, 57)
',
~^
^
if
:/";/^^^^^^
'^^_*- " *" — ——^y ' • •-!•-••""' " "' " y^f^^'^^^^^
*i
+20
lll'
^
?'
^ T^^r'iIII
11
*
930c. Composite index of six lagging indicators
(series 62, 70 72, 91, 95, 109)"~
50c. GNP in constant (1972) .dollars (1-Q span)
47c. Index of industrial production
,
i
v
48c. Employee-hours in nonagricutturai establishments ,
51c. Personal income less transfer
payments m 1972^ d
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.
ltd)
FEBRUARY 1980
39
OTHER IMPORTANT ECONOMIC MEASURES
A
I
NATIONAL INCOME AND PRODUCT
Chart Al. GNP and Personal Income
(Aug.) (Apr.)
P
T
(Apr) (Feb.)
P
T
(Dec.) (Nov.)
P
T
(Nov.)
(Mar.)
2800-1
26002400-
aaoo20001800-
1600-
200. GNP in current dollars, Q (ami. rate, bil, dot)
14002200-
JLI 2000-
IV
18001600 14001200-
223. Personal income In current dollars
rate, bil. dot.)
1000800"
224. Dispc^able personal income in current
dofl^Q (ami, rate, bil. dol.j
160015001400 1300-
ursposatye personal tncome in
HrJI^rc Qi^^nn r^o tJ
217. Per capita GNP in 1972 dollars
dollars, Q (ann. rate, thous, dol.)
1956
57
58
59
00
61
62
63
64
65
66
67
68
69
70
71
72
73
74
75
76
77
78
79
80
1981
Current data for these series are shown on pages 63 and 80.
40
FEBRUARY
1980
IICII
OTHER IMPORTANT ECONOMIC MEASURES
A
I
NATIONAL INCOME AND PRODUCT-Continued
'
Chart A2. Personal Consumption Expenditures
(Dec.) (Nov.)
P
T
(Aug.) (Apr.)
P
T
(Nov.)
(Mar.)
P
T
Annual rate, billion dollars (current)
Pefsonsl consurnpttofi expeoditur
236. Nondurable goods, Q
232. Durable goods, Q
rate, billion dollars (1972)
Nondurable goods, Q
233. Durable goods, Q ^
1956
57
58
59
60
61
62
63
64
65
66
67
68
69
70
71
72
73
74
75
76
77
78
79
80 1981
Current data for these series are shown on pages 80 and 81.
not
FEBRUARY 1980
41
OTHER IMPORTANT ECONOMIC MEASURES
NATIONAL INCOME AND PRODUCT-Continued
Chart A3. Gross Private Domestic Investment
(Aug.) (Apr.)
F
T
(Apr.) (Feb.)
P
T
(Dee.) (Nov.)
P
T
(Nov.)
(Mar.)
P
T
Annual rate, billion dollars (currant)
480440400-
J>
Gross private tkxTWsttc investment—
360320 -
m-
ISO-
242. Total fixed investment, Q
245. Change in business inventories, 0
Annual rate, billion dollars (1972)
30. ChangeJn[business inventories,
Current data for thete serial ara shown on page 81.
42
FEBRUARY 1980
*
OTHER IMPORTANT ECONOMIC MEASURES
A I
NATIONAL INCOME AND PRODUCT—Continued
Chart A4. Government Purchases of Goods and Services
(Aug.) (Apr.)
P
(Apr.) (Feb.)
T
P
(Dec.) (Nov.)
T
P
(Nov.)
(Mar.)
P
T
T
Annual rale, billion dollars (current)
580-1
540-
Government purchases of goods and services—
500-
460420380340300-
260-
260. Total, Q
220180-
266. State and teal
governments, Q
140-
100-
262. Federal Government, Q
60 J
Annual rate, billion dollars (1972)
1956 57
58
59
60
61
62
63
64
65
66
67
68
69
70
71
72
73
74
75
76
77
78
79
80 1981
Current data for these series are shown on page 81.
BCII
FEBRUARY 1980
43
OTHER IMPORTANT ECONOMIC MEASURES
IA
I
NATIONAL INCOME AND PRODUCT—Continued
Chart A5. Foreign Trade
(Aug.) (Apr.)
P
T
(Apr.) (Feb.)
P
T
(Nov.)
P
(Dec.) (Nov.)
P
T
(Mar.)
T
Annual rate, billion dollars (current)
320280240200160-
252. Exports of goods and services, Q
120-
r»—
253. Imports of goods and seivices, Q
40J
+30-
250. Net exports of goods and services, Q
+20-
yv
+100-
M.
-10-20-
Annual rate, billion dollars (1972)
160140120-
256 Exports of goods and sendees, Q
100-
t^^^r
"V
60-
257. Imndris
257.
Imports of goods and services, Q
255. Net exports of goods and services, Q
19156
57
S8
59
60
61
62
63
54
65
66
67
68
6S
70
71
7?
73
74
75
76
77
76
7<.i
80
i98i
FEBRUARY
1980
Current data for these series are shown on page 82.
44
ItO
OTHER IMPORTANT ECONOMIC MEASURES
NATIONAL INCOME AND PRODUCT—Continued
Chart A6. National Income and Its Components
(Aug.) (Apr.)
P
T
(Apr.) (Feb.j
P
T
(Dec.) (Nov.)
P
T
(Nov./
P
(Mar.)
I
Annual rate, billion dollars (current) I
240022002000-
18001600 -
lion •
l/n -4
220. National income, Q
'280. Compensation of employees, Q
TV
286, Corporate profits with inventoiy valuation and capital consumption adjustments, Q
\
\ r
livl
/-*
L
I_
7
282. Proprietors' income with inventory valuation
and capital consumption adjustments, Q
-288. Net Merest, Q
284. Rental income of persons with capital
consumption adjustment, Q
1956
57
58
59
60
61
62
63
64
55
66
67
63
69
70
71
72
73
74
75
76
77
78
Current data for these series are shown on page 82.
http://fraser.stlouisfed.org/
Federal Reserve Bank of St.FEBRUARY
Louis
ltd*
1980
45
OTHER IMPORTANT ECONOMIC MEASURES
IA I
NATIONAL INCOME AND PRODUCT-Continued
Chart A7. Saving
(Aug.) (Apr.)
P
T
(Apr.) (Feb.)
P
T
(Dec.) (to.)
P
T
Annual rate, billion dollars (current)
290. Gross saving (private ami government), Q
298. Government surplus or deficit, Q
77
78
79
S©
Current data for those series are shown on pages 82 and 83.
46
FEBRUARY 1980
ItCII
OTHER IMPORTANT ECONOMIC MEASURES
A
NATIONAL INCOME AND PRODUCT-Continued
Chart A8. Shares of GNP and National Income
(Aug.) (Apr.)
P
(Apr.) (Feb.)
T
P
(Dec.) (Nov.)
T
P
T
(Nov.)
(Mar.)
P
T
1 Percent of GNP|
70-
235. Personal consumption expenditures, 0
' "
268. State and local;government purchases
jgn
265. federal Government purchases of goods and services, Q
\
15-
10-
248. Nonresidential fixed investment, Q
249. Residential fixed investment, Q
"247. Change in business inventories, Q
\
251. Net exports of goods and services, Q
[Percent of National Incomel
64. Compensation of employees, Q
75-
283. Proprietors' income with inventory valuation
arid capital consumption adjustments, Q
. . . . .
-
287. (k)rporate^profitsi wfth^^ory valuationVnd
capital consumption adjustments, Q
\
285. Rental income of persons with capital consumption adjustment,
Current data for these series are shown on page 83.
ltd)
FEBRUARY
1980
47
OTHER IMPORTANT ECONOMIC MEASURES
B I
PRICES, WAGES, AND PRODUCTIVITY
Chart Bl. Price Movements
(Dee.) (Nov.)
P
T
(Dec.) (Nov.)
P
T
(Nov.)
Index: 1972=1001
(Nov.)
P
(Mar.)
T
) Percent changes at annual rate |
310c. Implicit price deflator,
6NP (1-Q span)
310. Implicit price
Fbced-weighted price imfex. gross business
product (1-Q span)
311. fixed-weighted price index,
gross business product, Q
Prodticer prices—
330c. Ail comrntuJities
Pmdijcer prices—
335c, Industrial commodities
330. All commodities
335. Irxkistnal commodities
331c, Crude material';
331. Crudt materials
A
/
/
.....11
/""**332. Intermediate materials
333, Caprtal equipment
jT
333c. Caprtal ecfuuxnent
334, Finished consumer goods
334c Fished consumer goods
1969
70
71
72
73
74
75
76
77
78
79
1980
1969 70
71
72
73
74
75
76
77
78
79 1980
Currant data for these series are shown on pages 84, 85, and 86.
48
FEBRUARY 1980
BCII
OTHER IMPORTANT ECONOMIC MEASURES
B I
PRICES, WAGES, AND PRODUCTIVITY-Contmued
Chart Bl. Price Movements—Continued
(Aug.) (Apr.)
P
T
(Dec.) (Nov.)
P
T
(Apr.) (Feb.)
P
T
Percent changes at annual rate
320c. All items (6-month span)
Chart B2. Wages and Productivity
345. Average hourly compensation, all employees,
nonfarm business sector, Q (current dollars)
$40. Average hourly earnings of production workers,
private nonfarm economy (current dollars)1
346. Real average hourly compensation, all employees,
nopfarm business sector, Q
341. Real average hourly earnings of production workers,
economy
120110100-
11
62
63
69
7Q
1
Adjusted for overtime (In manufacturing only) and Interindustry employment shifts and seasonality.
Current data for these series are shown on pages 64, 87, and 88.
BCII
FEBRUARY 1980
49
OTHER IMPORTANT ECONOMIC MEASURES
B I
PRICES, WAGES, AND PRODUCTIVITY-Continued
Chart B2. Wages and Productivity—Continued
(Aug.) (Apr)
P
(Dec.) (Nov.)
(Apr.) (Feb.)
T
P
P
T
(Nov.)
(Mar.)
P
T
T
Percent change
+15 T
Change in average tetMy eaminp of production
ducoon
worters, private nonform economy1 i
340c, Cmnt-dollar earnings
finiipa
6-month spans (ana yateM
fate)
Nnonth
itiiiitiij^ttfeiilltfjMiAjw KHI'/
/wJVpJ^AJT*!'V^< y yif j»
iiinhiii.il n/
;
,
l iMtJ. ,
;u
«| (j<iiiU ni/ 'V l»iljlBffijltVtli'y '' ^•^•^^ii' I |j if 11 in It
y'i f
»i
i i * ji
i \ \> \
t
\
' j]
» f
(
,ii
ii if iniijt
t
.s
I
+10-
I'miiij I nn 'i i
f
I J
«
i ma
'
I
o
1-month spans2
34k. Real earnings
+5-
, JNI
+10-
•"• i. » < '
I.J 'Is/iMj^^
^^J-jj^
345c. Current-dollar compensation
^ 1-quarter s^s (arm, rate) ^ i
:46c. Real compensation
A
1-quarter spans (ann. rate)
3V.
A «
Negotiated wage and benefit decisions, alt industries—
348. First year average changes, Q (ann. rate)-^
349. Average changes over life of
contract, Q (ana rate)
| Productivity |
370. Output per hour, all persons,
private business sector, Q
358. Output per hour, all persons, notfarm business sector, Q
370c. Change in output per hour, private business sector, Q
+10-1
1-quarter spans (ann. rate) ,
..; A 1\
+5-
0-
^quarter spans V " f
-5"
1956 57
S8
99
SO
61
62
63
64
65
66
67
68
69
70
71
72
73
74
75
76
77
78
79
80 1981
1
2
Adjusted for overtime (In manufacturing only) and Interindustry employment shifts and seasonally.
One-month percent changes have been multiplied by a constant (12) to make
them comparable to the annualized 6-month changes. See the current data table for actual 1-month percent changes.
Current data for these series are shown on pages 87 and 88.
50
FEBRUARY 1980
ltd*
OTHER IMPORTANT ECONOMIC MEASURES
C
I
LABOR FORCE, EMPLOYMENT, AND UNEMPLOYMENT
Chart Cl. Civilian Labor Force and Major Components
(Aug.) (Apr.)
P
T
if"
(Apr.) (Feb.)
P
T
(Dec.) (Nov.)
P
T
(Nov.)
(Mar.)
P
T
11010510095-
441, Civilian labor force, total (millions)
9085 *\
80-
442. Total employed (millions)
7570-
Labor force participation rates (percent)—
90-
451. Males 20 years and over
85-
LU
807560-
453. Both sexes 16*19 years of age
55504540.
11
Number unemployed (millions)—
r>
/
/
A
J
Vy*
V^y^vA^
f
^^^xv.
.^
' ''
/
^^^V^
**""**"*- - "**
'
,
./
' "
"' ""
^^"^v^
; y'\
37. Total unemployed ^^^^
, /
^
V
i /V»^'
.
"
.
1!
•
:
•••
.
:
.
,
.
uu
65-
:
4-
i
34T
3-
444. Mates 20 years and over
2-
445. Females 20 years
and over \
447. Number unemployed, full-tjfne^"
workers (millions) ^
^\
76*
,
IS
Z
448. Number employed part-time for economic
543-
2J
1956
57
58
59
60
61
62
63
64
65
66
67
68
69
70
71
72
73
74
7S
76
77
J8
79
8© 1981
Current data for these series are shown on page 89,
BCII
FEBRUARY
1980
51
OTHER IMPORTANT ECONOMIC MEASURES
£) I
GOVERNMENT ACTIVITIES
Chart Dl. Receipts and Expenditures
(Aug.) (Apr.)
P
T
(Dec.) (Nov.)
P
T
(Apr.) (Feb.)
P
I
(Nov.)
P
(Mar.)
T
(Annual rate, billion dollars (current)
600'
550500 •
450 •
400 <
350-
502. Federal Government expenditures, Q
300250200-
SOL Federal Government nceipts, Q
150-
J
100
511. State and local government
512, State and local government expenditures, Q
100'
50 J
510. State and local government surplus or deficit, Q
s
~1<H
gj
S§
69
60
61
62
63
64
i§
69
7@
71
72
73
74
77
78
79
80 1981
Current data for these series are shown on page 90.
52
FEBRUARY
1980
OTHER IMPORTANT ECONOMIC MEASURES
GOVERNMENT ACTIVITIES-Continued
Chart D2. Defense Indicators
(Aug.) (Apr.)
P T
(Apr.) (Feb.)
P
T
(Dec.) (Nov.)
P
T
(Nov.)
P
(Mar.)
T
16-
[Advance Measures of Defense Activity]
14-
m
517. Defense Department gross obligations incurred
(bil. doL; MCD moving avg.-6-term)
|,
1210-
-v*-"*^
*$
^J^
fJ^J^^^
987-
525, Defense Department military prime contract awards
(fail, dot.; MCD moving |avg.-6-term)
548. Manufacturers' new orders, defense products
(bil. do).; MCD moving avg.-6-temi)
1956
57
58
59
60
61
62
63
64
65
66
67
68
69
70
71
72
73
74
75
76
77
78
79
80
1981
Current data for these series are shown on page 90.
ItCII
FEBRUARY
1980
53
OTHER IMPORTANT ECONOMIC MEASURES
D I
GOVERNMENT ACTIVITIES-Continued
Chart D2. Defense Indicators—Continued
(Aug.) (Apr.)
P T
(Apr.) (Feb.)
P
T
(Dec.) (Nov.)
P
T
I Intermediate and Final Measures of Defense Activity]
:
-" :
"
":
:.:'.":Ki:>.y
!
^-^
(Nov.)
P
i
(
(Mar.)
T
;|
jj
;j
,j
557. Output of defense and space equipment (index: 1967=100)
559. Manufacturers' inventories, defense products (W. dol.)
54"
561. Manufacturers' unfilled orders, defense products (bil. dol.)
logs'
580. Defense Department net outlays, military functions andLmilrtary
assistance (bil, doli: MCD moving avg.-4-term)
54-
3.5-
538. Manufacturers' shipments, defense products!
(H. dol.; MCD moving avg.-4-term)
m
3.02.52.0-
r/
SS
Si
i©
€1
62
©
71
72
73
74
7S
7$
77
7B
70
80 1081
Current data for these series are shown on page 91.
54
FEBRUARY 1980
BCII
OTHER IMPORTANT ECONOMIC MEASURES
GOVERNMENT ACTIVITIES-Continued
Chart D2. Defense Indicators— Continued
(Aug.) (Apr.)
P
(Apr.) (Feb.)
T
P
(Dec.) (Nov.)
T
P
[intermediate and Firtet Measures of Defense Activity-Con.]
i|
(Mar.)
P
T
^
f
"
i|
(Nov.)
T
'
\
•!
?
|!
570. Employment in defense products industries (millions)
Defense Department personnel Onions)577. Military,t, active duty
3.53.0-
2.52.0-
578. Civilian, direct hire empioymen
1.5-
1.0-
0.5 J
[Natifenal Defense Pttcha$es|
120110100908070-
564. Federal Government purchases of goods am services for national
defense, Q (ann.rate,
-
605040-
565. National defense purchases as a percent of GNfy Q (percent)
10-
JDt
1956
57
58
59
60
61
62
63
64
65
66
67
68
70
71
72
73
74
75
76
77
78
79
80 1981
Current data for these series are shown on page 91.
ItCII
FEBRUARY 1980
55
OTHER IMPORTANT ECONOMIC MEASURES
E I
U.S. INTERNATIONAL TRANSACTIONS
Chart El. Merchandise Trade
(Aug.) (Apr.)
P
T
(Apr.) (Fib.)
P
T
(Dee.) (Nov.)
P
T
(Nov.)
P
(Mar.)
T
20 n
181614-
12108-
602. Exports, excluding military aid shipments
(bit. dol.; MCO moving avg.-5-term)
604. Exports of agricultural products,
toy (bil. dol.)
1.0J
606. Exports of nonefectricai machinery (bil. dol.)
2018161412-
12
16^
61Z General imports (bil dol.; moving! avg.—4-term)
614. Imports of petroleum and petroleum products (bil.
616. Imports of automobiles and parts (bil. dol.)
lisa ^ ga
m i©
si
sa d
Current data for these series are shown on page 92.
56
FEBRUARY 1980
KCII
OTHER IMPORTANT ECONOMIC MEASURES
U.S. INTERNATIONAL TRANSACTIONS—Continued
Chart E2. Goods and Services Movements
(Aug.) (Apr.)
P
(Dec,) (Nov.)
(Apr.) (Feb.)
T
P
T
P
T
(Nov.)
(Mar.)
P
T
Goods and services—
667. Balance on goods and services, Q
622, Merchandise trade balance, Q
618. Exports,
651. Income on U.S. investments
65Z Income on foreign investments in the U.S., Q
7®
7d
77
7-
NOTE: Annual totals are shown for the period prior to 1960.
Current data for these series are shown on page 93.
ItCII FEBRUARY
1980
57
OTHER IMPORTANT ECONOMIC MEASURES
INTERNATIONAL COMPARISONS
Chart Fl. Industrial Production
(Aug.) (Apr.)
P
(Apr.) (Feb.)
T
P
(Dec.) (Nov.)
T
P
(Nov.)
(Mar.)
P
T
T
Industrial production—
721. OECD European countries
1956
57
58
59
60
61
62
63
64
65
66
67
68
69
70
71
72
73
74
75
76
77
78
79
80 1981
Current data for these series are shown on page 94.
58
FEBRUARY 1980
ItCII
OTHER IMPORTANT ECONOMIC MEASURES
F I
INTERNATIONAL COMPARISONS—Continued
Chart F2. Consumer Prices
(Dec.) (Nov.)
•P
T
(Nov.)
P
Chart F3. Stock Prices
(Mar.)
T
(Dec.) (Nov.)
P
T
Percent changes at annual rate
(Nov.)
P
Stock prices-
Consumer prices—
70
71
72
73
19. United States
74
75
7S
77
78
79
1980
19@9 7©
71
72
73
74
Current data for these series are shown on pages 95 and 96.
IICII
FEBRUARY 1980
59
CYCLICAL INDICATORS
COMPOSITE INDEXES AND THEIR COMPONENTS
M| COMPOSITE INDEXES
910. Index of
12 lead ing indicators (series
1,3,8,12,19,
20, 29, 32, 36,
92, 104, 106)
Year
and
month
(1967=100)
920. Index of
4 roughly
coincident indicators (series
41,47,51,57) ,
(1967=100)
930. Index of 6
lagging indicators (series
62, 70, 72,
91,95,109)
(1967=100)
Leading Indicator Subgroups
913. Marginal
employment
adjustments
(series 1,2, 3,
5)
914. Capital
investment
commitments
(series 12, 20,
29)
915. Inventory
investment
and purchasing
(series 8, 32, 36,
92)
(1967-100)
(1967=100)
(1967=100)
917. Money
and financial
flows (series
916. Profitability (series
19, 26, SO) 1
940. Ratio,
coincident
index to
lagging index1
104, 106, 110)
(1967=100)
(1967=100)
(1967=100)
1978
January
February
March
139.1
140,3
140,3
134.0
135,0
136.9
134.1
135.9
137.2
97.6
97.2
98.3
115.4
115.9
115.0
104,8
105.9
106.3
90.9
89.4
90.4
148,5
148.0
147,4
99.9
99.3
99.8
April . . . .
May
June
HI. 5
141.8
142.5
139.3
139.5
140.1
137,8
140.0
142.0
99.0
98.0
97.8
114.9
115.0
116.1
106.9
107.2
106.9
92.1
93.8
94.1
147.5
147,8
148.5
101.1
July
August
September
141.2
142,0
142.9
140.5
141.4
141.4
143.5
144.5
146.4
97.4
97.3
98.5
115.5
115.4
116.0
105.2
105.8
105,8
94.2
95.4
95.4
148.9
149,1
149,9
97.9
97.9
96.6
October
November
December
H>H3.6
142.8
143.0
143,0
144.3
145.5
148.1
152.7
155.2
98.7
98.8
106.1
106.2
106.7
94.9
94.1
93.5
150.6
E>99.1
i>117.2
116.1
115.7
96.6
94.5
93.8
142.6
r!42.3
H43.2
144.8
144.9
B>146.6
157.4
158.5
158.4
98.5
98.4
98.0
113.9
rl!3.9
rl!5.5
107.4
r108,3
E>rl08.8
93.2
92.2
92.2
148.6
r145.6
144,5
H40.4
H41.3
rl41.5
144.1
145.6
145.0
rl61 .8
94.6
r!62.5
H63.6
r97.4
rl!3.8
rl!3.4
rl!4.3
r!07.8
H07.2
H06.3
92.3
91.7
r89.1
r89.6
91 .8
rH6.1
H46.7
r!48.1
H40.5
H39.8
H40.4
145.3
144.8
144.7
r!64.8
r!66.4
H70.5
r96.4
r95.5
rl!3.5
H13.6
r115.0
r!05.6
r!05.2
rl04.1
91.7
92.0
92.1
rH8.4
r!47.9
rl46.3
r88.2
r!38.9
136.3
136.0
H44.9
r144.8
144.9
r!75.9
r179.1
178.2
96.7
95.8
r!03.1
r!02.2
r!02.3
91.2
p90.9
r96.4
rll4.1
H12.4
rll2.9
r'144.3
rl 41 . 0
H36.8
r82.4
r80.8
r81.3
3
"144.3
[H> S 179.3
p96.6
pH2.4
p!02.6
pi 33. 3
p80.5
fi>151.1
150.2
99.6
98.7
1979
January
February
March
i April
May
June
July .
August
September
October . . .
November
December
i
;
a
96.6
96.3
(NA)
92.0
91 .4
92.6
88.6
87.0
r84.9
1980
January ....
February
March
135.1
April
May
June
July
August
September . . .
October
November
December . .
NOTE: Series are seasonally adjusted except those series that appear to contain no seasonal movement. Unadjusted series are indicated by ©. Current high values are indicated by[H); for
series that move counter to movements in general business activity, current low values are indicated by [H), Series numbers are for identification only and do not reflect series relationships or
order. Complete titles and sources are shown at the back of the book. The "r" indicates revised; "p", preliminary; V, estimated; "a", anticipated; and "NA", not available.
Graphs of these series are shown on pages 10 and 11.
l
Series 916 reached its high value (97.2) in August 1977; series 940 reached its high value (106.6) in March 1977.
2
Excludes series 12 for which data are not yet available.
Excludes series 12 and 36 for which data are not yet available.
''Excludes series 57 for which data are not yet available.
3
Excludes series 70 and 95 for which data are not yet available.
60
FEBRUARY 1980
CYCLICAL INDICATORS
B I
CYCLICAL INDICATORS BY ECONOMIC PROCESS
MAJOR ECONOMIC
PROCESS
BB EMPLOYMENT AND UNEMPLOYMENT
, Minor Economic
Process
'Timing Class
Year
and
month
L,L,L
1 . Average
workweek of
production
workers,
manufacturing
L, L, L
L,C,L
2. Accession
21. Average
weekly overtime rate, manufachours, produc- turing
tion workers,
manufacturing
L,C, L
L, L, L
5. Average
weekly initial
claims, State
unemployment
insurance1
3. Layoff rate,
manufacturing
(Per 100 em-
(Hours)
(Hours)
ployees)
(Thous.)
Comprehensive
Employment
Job Vacancies
Marginal Employment Adjustments
L, Lg, U
4. Quit rate,
manufacturing
(Per 100 em-
(Per 100 em-
ployees)
ployees)
L, Lg, U
L, Lg, U
60. Ratio, helpwanted advertising to persons
unemployed
46. Index of
help-wanted
advertising
in newspapers
(Ratio)
(1967=100)
u,c,c
48. Employeehours in nonagricultural
establishments
(Ann. rate,
bil. hours)
Revised2
1978
39.6
40.0
40.5
3.5
3.7
3.6
4.1
3.9
4.0
338
364
335
0.9
1.0
1.0
1.9
2.0
2.0
0.652
0.680
0.682
138
139
141
158.83
160.34
162,07
E>40.7
40.4
40.5
3.7
3.6
3.5
4.1
4.0
4.0
334
328
339
1.0
1.0
1.0
2.1
2.1
2.1
0.718
0.700
0.741
146
144
147
163.63
163.38
164.35
July
August
September
40.5
40.4
40.5
3.6
3.4
3.6
4.0
4.0
4.1
361
344
328
0.8
1.0
[H>0. 8
2.0
2.1
2.1
0.712
0.753
0.758
149
150
152
164.43
164.54
164.81
October
November
December
40.5
40.6
40.6
3.6
3.7
3.7
4.3
4.4
E>4.5
E>323
334
334
0.9
0.9
0.9
2.2
2.2
2.2
H>0.828
0.815
0.821
161
161
165
165.45
167.01
167.22
January
February
March
40.6
40.6
40.6
3.7
DH
4.3
4.2
4.0
345
341
355
0.9
0.9
0.9
E>2.3
2.2
2.1
0.812
0.800
0.790
161
158
156
167.44
167.83
169.22
April
May
June ....
39.1
40.2
40.1
2.7
3.5
3.4
3.9
4.0
4.0
436
350
385
1.1
1.0
1.1
2.1
2.0
2.0
0.776
0.777
0.782
155
154
153
166.62
168.46
169.20
July
August
September
40.2
40.1
40.2
3.3
3.2
3.2
3.9
3.7
3.8
390
390
387
.2
.5
.2
1.9
1.9
1.9
0.781
0.753
0.790
155
155
159
169.27
169,10
169.51
October
November
December
40.2
40.1
40.3
3.2
r3.3
r3.2
4.1
3.9
4.0
403
418
413
.1
.3
.2
2.0
2.0
1.9
0.812
0.778
rO.778
i)167
158
r!59
169.50
T169.79
H70.65
p40.4
P3.3
p404
pi. 3
pO.714
pi 54
H>pl71.00
January
February .
March
April . . .
May
June
1979
1980
January
February
March
p4.1
p2.0
April
May
June
July
August
September
October
November
December
NOTE: Series are seasonally adjusted except those series that appear to contain no seasonal movement. Unadjusted series are indicated by (u). Current high values are indicated by [R); for
series that move counter to movements in general business activity,current low values are indicated by (R). Series numbers are for identification only and do not reflect series relationships or
order. Complete titles and sources are shown at the back of the book. The "r" indicates revised; "p", preliminary; "e", estimated; "a", anticipated; and "NA", not available.
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," page iii.
FEBRUARY
1980
61
CYCLICAL INDICATORS
CYCLICAL INDICATORS BY ECONOMIC PROCESS-Con.
MAJOR ECONOMIC
PROCESS
Q| EMPLOYMENT AND UNEMPLOYMENT-Con.
Minor Economic
Process
Timing Class
Year
and
month
Comprehensive Unemployment
Comprehensive Employment-Con.
U,C,C
C,C,C
UC(U
U, Lg, U
1, Lg, U
L, Lg, U
L, Lg, U
Lg, Lg, Lg
Lg, Lg, Lg
42. Persons
engaged in nonagricultural
activities, labor
force survey
41. Employees
on nonagricultural pay rolls,
establishment
survey
40. Employees
in goodsproducing industries (mining, mfg., construction)
90. Ratio,
civilian employment to total
population of
working age
37. Number of
persons unemployed, civilian
labor force
43. Unemployment rate,
total
45. Average
weekly insured unemployment rate
State programs1
91. Average
duration of
unemployment
44. Unemployment rate,
persons unemployed 15
weeks and over
(Thous.)
(Thous.)
(Thous.)
(Percent)
(Thous.)
(Percent)
(Percent)
(Weeks)
(Percent)
1978
January
February
March
89,425
89,653
89,813
84,421
84,735
85,246
24,838
24,893
25,107
58.03
58.03
58.09
6,305
6,088
6,153
6.4
6.1
6.2
3.5
3.6
3.4
13.0
12.6
12.4
1.6
1.6
1.5
April
May
June
90,468
90,818
91,141
85,961
86,227
86,590
25,487
25,534
25,652
58.42
58.56
58.76
6,056
6,126
5,902
6.1
6.1
5.9
3.1
3.0
3.1
12.4
12.0
12.1
1.5
1.4
1.3
July
August
September
91,046
91,457
91,598
86,686
86,880
87,032
25,710
25,716
25,767
58.60
58.76
58.78
6,228
5,929
5,971
6.2
5.9
5.9
3.3
3.5
3.2
11.9
11.5
11.5
1.3
1,2
1.3
October
November
December
92,024
92,488
92,456
87,424
87,840
88,133
25,941
26,120
26,272
58.95
59.08
59 06
5.7
5.8
3.0
3.0
11.8
11.1
5 9
3 1
10 6
1.3
1.2
1 2
January
February
March
92,897
93,189
93 303
88 433
88,700
89 039
26,382
26,448
26 627
59 19
59 33
59 31
5 904
5 883
5 882
5 8
5 7
5 7
3 o
3 0
3 0
11 2
11 3
11 8
1 2
1 2
1 3
April
May
June
93 039
93 249
93 409
89 036
89 398
89 626
26 565
26 651
26 674
59 05
59 11
59 13
5 944
5 903
5 824
5 8
5 8
5 7
3 1
|u\2 8
3 0
11 0
10 9
10 5
1 2
1 2
1 1
July
August
September
93 917
93 539
94 140
89 713
8Q 7fi?
(H)26 723
59 37
5 909
fi l?d
fHSR 7
R Q
IwYin 1i
yri/iu.
in 7
89 803
26 593
[B)59 42
5 QQfl
5 g
2 9
3 n
2 9
IH^l' *0u
in/
i i
l l
October
November
December
94 180
94 223
[8)94,553
89 982
r90 100
r90,231
26 572
r26 533
r26,654
59 27
59 27
59.38
6 121
6 044
6,087
R Q
2 9
3 1
3.1
10 5
10 6
94 534
[LjNnQn
i^fi
jM/pyUjOJD
n?fi 70 c;
CQ
6
1)5, 788
5,882
5,984
1979
?fi <iQQ
RQ 1 Q
5 8
5^9
10 7
10.5
1 2
1 i
1.2
10.5
1 .3
1980
January
February
March
0/1
/IOC
6 .1
0
O
p3.2
n*3
April
May
June
July
August
September
October
November
December
NOTE: Series are seasonally adjusted except those series that appear to contain no seasonal movement. Unadjusted series are indicated by (5). Current high values are indicated by[H); for
series that move counter to movements in general business activity, current low values are indicated by[H). Series numbers are for identification only and do not reflect series relationships or
order. Complete titles and sources are shown at the back of the book. The "r" indicates revised; "p", preliminary; "e", estimated; "a", anticipated; and "NA", not available.
Graphs of these series are shown on pages 14, 15, 17, and 18.
l
Data exclude Puerto Rico which is included in figures published by the source agency.
62
FEBRUARY
1980
ItO
CYCLICAL INDICATORS
B
CYCLICAL INDICATORS BY ECONOMIC PROCESS -Con.
MAJOR ECONOMIC
PROCESS
Rl PRODUCTION AND INCOME
Minor Economic
Process .
....
C,C,C
Timing Class
50. Gross national product
in 1972 dollars
Year
and
month
Industrial Production
Comprehensive Output and Income
C,C,C
Personal income
223. Current
dollars
(Ann. rate,
bil.dol.)
(Ann. rate,
bil.dol.}
52. Constant
(1972) dollars
(Ann. rate,
bil.dol.)
C.C.C
C,C,C
51. Personal
income less
transfer payments in 1972
dollars
53. Wages and
salaries in
mining, mfg.,
and construction in 1972
dollars
(Ann. rate,
bil.dol.)
(Ann, rate,
bil.dol.)
C,C,C
47. Index of
industrial
production,
total
(1967=100)
C,C,C
C, L, L
73. Index of
industrial
production,
durable manufactures
74. Index of
industrial
production,
nondurable
manufactures
(1967=100)
(1967-100)
c,c,c
49. Value of
goods output
in 1972 dollars
(Ann. rate,
bil.dol.)
Revised1
1978
January
February
March
1,367)8
1,618.5
1,631.3
1,654.4
1,117.0
1,118.1
1,127.7
967,4
969.4
978.9
233.3
236.0
240.2
140.0
140.3
142.1
132.1
132.3
135.0
152.4
152.9
153.8
62l)4
April
May
June
1, 395!2
1,676.5
1,687.3
1,704.2
1,135.1
1,133.9
1,137.6
987.5
986.7
991.1
244.0
243.2
244.2
144.4
144.8
146.1
137.6
137,9
139.0
155.5
155.8
157.0
637.'2
July
August
September
1 S 407!3
1,730.0
1,741,3
1,756.1
1,149.5
1,151.7
1,154.6
998.5
1,000.3
1,004.1
245.3
244.5
245.1
147.1
148.0
148.6
141.1
141.8
142.9
157.2
158.4
159.3
641 ) 8
October
November
December
1,426)6
1,781.0
1,801.4
1,826,8
1,163.3
1,172.0
1,181.6
1,013.0
1,021.4
1,030.5
246.3
248.7
250.7
149.7
150.6
151.8
144.6
145.5
146.8
159.5
160.4
161.7
657)3
January
February
March
1,436)6
1,834.3
1,851.4
1,872.1
1,172.8
1,172.5
1,177.4
1,021.9
1,022.6
1,027.0
249.4
250.3
H>251.6
151.5
152.0
0)153.0
146.8
147.2
E>148.6
160.7
162.0
163.0
E>658)6
April
May
June
1 S 422!3
1,880.7
1,891.6
1,905.1
1,174.0
1,172.7
1,172.4
1,022.7
1,021.5
1,021.8
248.7
248.2
246.9
150.8
152.4
152.6
144.6
147.6
147.6
161,7
162.8
163.0
647)3
July
August
September
1,433.'3
1,933.2
1,946.5
1,960.1
1,180.9
1,179.7
1,177.2
1,023.0
1,021.4
1,019.5
246.1
243.1
242.6
152.8
151.6
152.4
147.2
144.2
145.9
164.1
164.3
164.6
651. '3
October
November
December
B>n ,446)7
r1,181.4
rl,981.2
rl,186.5
r2,004.0
r2,024.2 (H)rl,188.6
rl,023.5
rl, 029.1
H>n,030.9
241.9
241.0
241.5
152,2
H52.1
r!52.3
H45.7
r144.9
r!44.7
r!64.0
H64.4
r!64.7
r655'.3
pi ,020. 2
p239.2
p!52.7
p!44.8
|H)pl65.5
1979
1980
(H)p2,035.6
January
February
March
April
May
June
..
pi, 179. 4
....
July
August
September
October .
November
December
....
NOTE: Series are seasonally adjusted except those series that appear to contain no seasonal movement. Unadjusted series are indicated by (u). Current high values are indicated by[H); for
series that move counter to movements in general business activity,current low values are indicated by (H). Series numbers are for identification only and do not reflect series relationships or
order. Complete titles and sources are shown at the back of the book. The "r" indicates revised; "p", preliminary;"e", estimated; "a", anticipated; and "NA", not available.
Graphs of these series are shown on pages 14, 19, 20, and 40.
l
See "New Features and Changes for This Issue," page iii.
FEBRUARY 1980
63
CYCLICAL INDICATORS
B
CYCLICAL INDICATORS BY ECONOMIC PROCESS —Con.
MAJOR ECONOMIC
PROCESS
H
Minor Economic
Process
PRODUCTION AND
INCOME-Con.
Capacity Utilization
L.C.U
Timing Class
Year
and
month
KI CONSUMPTION, TRADE, ORDERS, AND DELIVERIES
83. Rate of
capacity
utilization,
manufacturing
(BEA}
(Percent)
82. Rate of
capacity
utilization,
manufacturing
(FRB)
(Percent)
Orders and Deliveries
L, C, U
84. Rate of
capacity
utilization,
materials
(Percent)
L, L, L
L, L, L
L, I, 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.)
L, L,l
Value of manufacturers' new
orders, durable goods industries
6. Current
dollars
(Bil.dol.)
Revised
1
Revised
L, 1,1
32. Vendor
performance,
companies reporting slower
deliveries®
(Percent
reporting)
1
1978
January
February
March
82.'6
82^6
62.61
65.54
68.14
38.67
40.11
41.45
35.15
36.75
37.30
2.76
2.99
4.38
187.08
190.06
194.44
55
64
67
83^9
85^6
69.25
68.90
68.31
41.74
41.25
40.57
38.51
37.66
37.33
3.69
3.88
2.72
198.13
202.01
204.73
64
64
66
85*.2
86^4
65.94
70.59
72.40
38.90
41.23
42.07
36.41
37.95
37.67
0.83
2.62
3.92
205.56
208.18
212.10
56
65
66
86.*4
i)88!2
76.46
76.91
76.83
44.12
43.98
43.53
38.65
38,36
38.72
6.37
5.52
4.19
218.47
223,99
228,18
68
66
68
88*. 6
79.65
81.31
[H>83.09
44.70
45.17
D45.83
0)39.78
39.21
39.66
6.76
E>86'.7
6.23
234.94
242.61
248.84
69
77
E>78
*84
April
May
June
*84
July
August
September
*83
October
November
December
*84
1979
January
February
March
April
May
June
.
E>84
. . .
85!9
87^3
76.10
77.03
75.82
41.45
41.75
40.87
37.20
37.46
36.74
5.11
1.32
3.18
253.95
255.27
258.46
76
76
70
85^4
r87.'2
72.54
74.03
77.56
38.73
39.42
40.86
35.87
35.93
36.22
-1.04
-0.39
257.42
257.03
260.158
60
55
51
76,66
75.42
r77.75
39.91
38.98
39.77
36.27
34.84
34.54
1.10
1.76
r3.64
261.68
263.44
r267.07
50
47
49
p81.08
p40.50
p35.86
P3.03
DP270.10
48
*83
July
August
September ,
October
November
December
*82
....
84.* 6
(NA)
D7.66
r86*.3
3.55
1980
January
February
March
April
May .
June
July
August
September
October
November
December
NOTE: Series are seasonally adjusted except those series that appear to contain no seasonal movement. Unadjusted series are indicated by ©. Current high values are indicated by[H); for
series that move counter to movements in general business activity, current low values are indicated by [H>. Series numbers are for identification only and do not reflect series relationships or
order. Complete titles and sources are shown at the back of the book. The "r" indicates revised; "p", preliminary; "e", estimated; "a", anticipated; and "NA", not available.
Graphs of these series are shown on pages 12, 20, and 21.
^ee "New Features and Changes for This Issue," page iii.
64
FEBRUARY
1980
CYCLICAL INDICATORS
B
CYCLICAL INDICATORS BY ECONOMIC PROCESS -Con.
MAJOR ECONOMIC
PROCESS
H
^H CONSUMPTION, TRADE, ORDERS, AND DELIVERIES-Con.
Minor Economic
Process
Formation of Business Enterprises
Consumption and trade
C(C,C
Timing Class
c, c,c
Manufacturing and trade sales
Year
and
month
56. Current
dollars
(Mil.dol.)
57. Constant
{1972} dollars
{Mil.dol.)
C,L,C
75. Index of industrial produc-
C,L,U
{1967=100)
U,L,U
Salesjtf retail stores
54. Current
dollars
goods
59. Constant
{1972) dollars
{Mil.dol.)
FIXED CAPITAL
INVESTMENT
{Mil.dol.)
UC.C
55. Personal
consumption
expenditures,
automobiles
(Ann. rate,
bil.dol.)
L, L, L
L.L.L
L, L,L
58, Index of
12. Index of
consumer
net business
l
sentiment ® formation
(IstQ
1966=100)
13. Number of
new business
incorporations
(Number)
(1967=100)
2
Revised
1978
Revised2
January
February
March
232,439
238,873
242,926
148,120
151,295
153,432
143.2
145.2
147.5
61 ,892
62,898
64,075
42,655
43,051
43,648
62!3
83.7
84.3
78.8
133.5
133.1
130.5
36,414
39,434
37,847
April
May
June
249,868
251,588
252,380
156,316
156,223
156,183
149.5
149.0
149.3
65,146
65,522
65,964
43,988
43,916
43,947
70^2
81.6
82.9
80.0
131.9
132.1
132.7
39,585
39,059
39,860
July
August
September
252,728
259,226
260,099
155,372
158,476
157,585
149.8
150.6
150.8
66,224
67,303
68,085
43,944
44,454
44,675
eslg
82.4
78.4
80.4
133.3
132.5
133.3
40,152
41,007
41,553
266,724
269,792
272,537
159,846
160,556
161,105
151.2
151.3
151.5
68,971
70,158
70,918
44,991
45,498
45,724
7o!e
79.3
75.0
66.1
E>134.8
133.4
133.8
41,437
41,349
42,157
January
February
March .
273,304
274,579
285,372
160,181
. 159,086
H>.164,058
150.6
151.5
E>152.9
70,855
71,122
72,045
45,102
44,759
44,944
E>74!6
72.1
73.9
68.4
131.3
132.1
132.5
42,410
42,302
42,761
April
May
June
275,936
287,139
283,388
157,136
161,575
158,140
149.1
152.0
151.8
71,366
71,914
71 ,803
44,080
44,173
43,756
68!2
66.0
68.1
65.8
130.9
130.5
130.9
43,034
43,895
43,044
July
August
September
288,565
293,059
296,394
159,296
160,227
160,225
150.8
148.2
149.7
72,370
74,794
76,929
43,861
45,084
53)45,928
67^9
60.4
64.5
66.7
131.8
130.3
132.3
44,655
42,911
44,687
October
November
December
r299,077
r299,256
H>p301,347
r!59,774
r!58,208
pi 58, 090
r!49.7
148.9
r!48.9
75,611
r76,427
r76,809
44,820
r44,957
r44,760
r67^3
62.1
63.3
61.0
133.5
el 31. 3
1)46,478
p44,811
p!48.4
E>P78,545
p45,141
....
October
November
December
'
1979
(NA)
(NA)
1980
January
February
March .
....
....
(NA)
(NA)
67.0
April
May
June
July
August .
September
October
November
December
NOTE: Series are seasonally adjusted except those series that appear to containno seasonal movement. Unadjusted seriesare indicated by (u). Current high values are indicated byH); for
series that move counter to movements in general business activity,current low values are indicated by[H). Series numbers are for identification only and do not reflect series relationships or
order. Complete titles and sources are shown at the back of the book. The "r" indicates revised; "p", preliminary; "e", estimated; "a", anticipated; and "NA", not available.
Graphs of these series are shown on pages 12, 14, 22, and 23.
l
Series 58 reached its high value (89.1) in 2d quarter 1977.
2
See "New Features and Changes for This Issue," page iii.
ltd)
FEBRUARY 1980
65
CYCLICAL INDICATORS
B I
CYCLICAL INDICATORS BY ECONOMIC PROCESS -Con.
MAJOR ECONOMIC
PROCESS
|M FIXED CAPITAL INVESTMENT-Con.
Minor Economic
Process
Tinning Class
Business Investment Commitments
L,L,L
l,L,l
Contracts and orders for plant
and equ pment
Year
and
month
10. Current
dollars
(Bil.dol.)
L, L, L
Value of manufacturers' new orders,
capital goods industries, nondefense
20. Constant
(1972) dollars
24. Current •
dollars
27. Constant
(1972) dollars
(Bil.dol.)
(Bil.dol.)
(Bil.dol.}
3
1978
UC.U
U, Lg( U
C, Lg, Lg
9. Construction contracts for commercial and industrial buildings, floor
space1
11. Newly
approved capital
appropriations,
1,000 manufacturing corporations
97. Backlog of
capital appropriations, manufacturing
(Bil.dol.)
(Bit. dot.)
L.L.L
C )
Square feet
Square meters2
(Millions)
(Millions)
3
n
C )
January
February
March
20.90
22.09
20.48
13.33
14.05
13.08
16.17
17.19
17.18
10.36
10.97
11.01
83.03
67.86
71.94
7,71
6.30
6.68
17JO
April
May
June
19.04
21.11
19.78
12.08
13.25
12.38
17.28
17.61
17.61
11.00
11.16
11.10
76.71
88,41
83.27
7.13
8.21
7.74
15J2
July
August
September
21.47
22.71
23.32
13.25
13.86
14.17
17.45
18.36
19.84
10.90
11.35
12.18
74.82
79.21
86.38
6.95
7.36
8.02
16J7
October
November
December
25.85
24.70
22.71
15.50
14.82
13,46
21.03
20.75
19.13
12.81
12.64
11.50
84.55
91.08
81.48
7.85
8.46
7.57
18!?5
r26.34
25.99
27.29
r!5.52
15.48
E>16.62
21.41
22.87
|H>23.98
12.83
13.79
1)14.84
88.51
105.49
102.77
8.22
9.80
9.55
22^58
April
May
June
25.38
22.50
25.06
14.78
13.04
14.52
20.77
20.96
21.75
12.33
12.24
12.81
93.59
87.09
84.08
8.69
8.09
7.81
2K03
July
August
September
23.50
23.53
24.73
13.30
13.22
13.82
20.23
20.74
21.82
11.63
11.80
12.35
88.48
83.85
92.17
8.22
7.79
8.56
r22!55
October
November
December
24.14
25.36
[H)r27.90
13.53
r!4.48
r!5.65
r21.00
21.42
r22.86
11,97
12,53
r!3.14
93.15
84.13
80.79
8.65
7.82
7.51
E>p24,52
p26.63
pl4.58
p23.14
p!2.88
B>106.12
H)9.86
59 '.73
59! 98
6o!83
63 '.43
1979
January
February
March
esies
70 '.15
r73!58
|R>p77:85
1980
January
February
March
April .
May
June .
July
August
September
October
November
December
NOTE: Series are seasonally adjusted except those series that appear to contain no seasonal movement. Unadjusted series are indicated by <g). Current high values are indicated byED; for
series that move counter to movements in general business activity, current low values are indicated by [H). Series numbers are for identification only and do not reflect series relationships or
order. Complete titles and sources are shown at the back of the book. The "r" indicates revised; "p", preliminary; "e", estimated; "a", anticipated; and "NA", not available.
Graphs of these series are shown on pages 12, 23, and 24. 1This 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. 3See "New Features and Changes for This Issue," page iii.
66
FEBRUARY 1980
ltd)
CYCLICAL INDICATORS
B
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Con.
MAJOR ECONOMIC
PROCESS
JM FIXED CAPITAL INVESTMENT-Con.
Minor Economic
PCOCBSS
Residential Construction
Commitments and Investment
Business Investment Expenditures
Timing Class
Year
and
month
C, Lg, Lg
C, Lg, Lg
61. Business
expenditures
for new plant
and equipment,
total
69. Machinery
and equipment
sales and business
construction
expenditures
(Ann. rate,
bil.dol.)
{Ann. rate,
bil.dol.}
C, Lg, U
C,Lg,C
Lg, Lg, Lg
C,Lg,C
76. Index of
Nonresidential fixed investment in 1972 dollars
industrial production, business
86. Total
87. Structures
equipment
88. Producers'
durable equip.
(1967=100)
(Ann. rate,
bil.dol.}
,I
(Ann. rate, '
bil.dol.) ]
(Ann. rate,
bil.dol.)
L, L, L
28. New
private housing
units started,
total
{Ann. rate,
thous.)
U 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.)
Revised1
1978
January .
February .
March
144!25
204.83
209.20
214.91
152.0
153.6
156.5
133J
4CL2
93!b
April
May
June
15o!?6
221.86
220.94
228.18
158.0
158.4
160.1
146!3
43!9
July
August
September
155^41
230.58
238.02
246.70
161.7
163.4
163.8
141 .*6
October
November
December
163!%
245.58
248.99
252.90
164.8
165.0
166.8
January
February
March
165!94
256.18
255.73
270.16
April
May
June
173^8
July
August
September
October
November
December
1,779
1,762
2,028
139.2
137.7
140.7
59!i
9e!i
E>2,182
2,018
2,092
154.6
141.8
E>160.2
H>66!9
45J
96.*5
2,090
1,983
2,014
142.6
138.6
148.5
66!2
145! 5
46!5
98*. 9
2,001
2,111
2,052
148.2
144.5
147.6
60!6
168.1
169.0
170.8
147!2
45!s
ioi !a
1,727
1,469
1,800
117.2
115.1
130.9
57!7
258.54
266.54
264.63
168.7
171.4
171.5
146!9
47!9
99!6
1,750
1,801
1,910
122.5
130.7
132.4
55!?
18)179! 33
272.96
279.65
279.62
171.4
171.5
173.6
E>156!7
4s!?
E)ioi!9
1,764
1,788
1,874
123.4
133.6
143.4
5e!5
al84! 32
282.82
r277.12
[H>P286.06
H72.0
r!72.7
H74.5
r149!s
H>r50;!i
r99!e
1,710
1,522
1,517
124.6
102.0
100.5
r55!g
pi ,420
102.1
1979
1980
January
February .
March ...
(NA)
. .. .
April
May
June
E>p176.3
a!89!32
a!95!?6
July
August
September
October
November
December
NOTE: Series are seasonally adjusted except those series that appear to contain no seasonal movement. Unadjusted series are indicated by <g). Current high values are indicated by[H>; for
series that move counter to movements in general business activity, current low values are indicated by [H>. Series numbers are for identification only and do not reflect series relationships or
order. Complete titles and sources are shown at the back of the book. The "r" indicates revised; "p", preliminary; "e", estimated; "a", anticipated; and "NA", not available.
Graphs of these series are shown on pages 13, 24, and 25.
1
See "New Features and Changes for This Issue," page iii.
FEBRUARY 1980
67
CYCLICAL INDICATORS
CYCLICAL INDICATORS BY ECONOMIC PROCESS-Con.
MAJOR ECONOMIC
PROCESS .
Qj INVENTORIES AND INVENTORY INVESTMENT
Minor Economic
Process
Inventory Investment
L, L,L
Timing Class
Year
and
month
30. Change in
business inventories in 1972
dollars
(Ann. rate,
bil.dol.)
L,L,L
36. Change in inventories on
hand and on order in 1972
dollars
Monthly
data
(Ann. rate,
bil.dol.)
Revised2
Smoothed
data1
(Ann. rate,
bil.dol.)
Inventories on Hand and on Order
L,L,L
L, L, L
31. Change
in book value
of mfg. and
trade inventories, total
(Ann. rate,
bil.dol.)
38. Change
in stocks of
materials and
supplies on
hand and on
order, mfg.
(Bil.dol.)
Lg, Lg, Lg
Lg, Lg, Lg
Lg, Lg, Lg
Manufacturing and trade
inventories
71. Current
dollars
(Bil.dol.)
65. Mfrs.'
inventories of
finished
70. Constant goods, book
(1972) dollars value
(Bil.dol.)
(Bil.dol.}
Lg, LCI, Lg
L, Lg, Lg
77. Ratio,
constantdollar inventories to
sales, mfg.
and trade
(Ratio)
78. Stocks of
materials and
supplies on
hand and on
order, mfg.
(Bil.dol.}
Revised2
1978
January .
February . .
March
16\5
23.99
14.94
D35.54
16.86
19.56
21.79
41.0
33.9
60.8
0,92
1.51
2.07
341.52
344.34
349.41
238.18
238.92
241.23
59.74
59.76
60.05
1.61
1,58
1.57
144.42
145.93
148.00
15^6
29.83
17.26
14.08
25.80
D27.16
23.97
60.4
33.7
33.8
1.83
2.00
2.38
354.44
357.25
360.06
242.94
243.93
244.65
60.71
61.07
61.57
1.55
1.56
1.57
149.84
151.84
154.22
12!2
11.11
17.38
13.76
17.27
14.17
14.14
35.8
42.3
31.8
1.18
1.81
2.62
363.05
366.57
369.23
245.54
246.77
247.13
62.10
62.74
62.82
1.58
1.56
1.57
155.40
157.22
159.83
i2!6-
14.90
18.52
18.58
14.71
15.54
16.53
38.1
52.9
33,8
2.43
2.98
2.71
372.40
376.81
379.63
247.88
249,09
249.59
62.69
63.52
63.80
1.55
1.55
1.55
162.26
165.24
167.95
12!3
32.56
16.50
14.16
20.28
22.88
21,81
54.7
43.6
48.9
3.96
3.31
384.19
387.82
391.89
250.98
251.38
252.24
64,67
65.48
65.67
1.57
1.58
1.54
173.66
177.62
180.93
E>i8li
29.48
-2.24
20.06
20.56
16.92
14.78
67.6
47.7
53.5
4.31
0.52
2.70
397.53
401.50
405.97
253.80
254,71
256,18
67.10
67.28
68.26
1.62
1.58
1.62
185.24
185.76
188.46
19.25
14.06
12.88
B>93.7
-0.02
-20.92
6.57
4.5
413.78
416.96
417.33
258.92
E>259.42
257.63
68.95
69.00
69.95
1.63
1.62
1.61
188.45
191.08
192.30
-2.62
-8.35
p-10.43
-3.91
-9.09
-8.88
r38.2
p22.8
2.79
2.00
1.44
421.20
K24.39
r258.18
r258.12
p257.65
69.27
69.74
[H>70.42
1.62
1.63
195.09
197.09
1)198.53
(NA)
(NA)
(NA)
(NA)
April
May
June
July
August
September
. .
October
November
December
1979
January
February
March
April
May
June
July
August
September
October
November .
December
Y.\
ri'.i
0.88
38.2
46.5
E)5.71
2.63
1.23
KP426.29
E>pl.63
1980
January
February
March
(NA)
(NA)
(NA)
(NA)
(NA)
April
May
June
July
August
September
October
November
December
NOTE: Series are seasonally adjusted except those series that appear to contain no seasonal movement. Unadjusted series are indicated by (u). Current high valutas are indicated by[H); for
series that move counter to movements in general business activity, current low values are indicated by (H). Series numbers are for identification only and do not reflect series relationships or
order. Complete titles and sources are shown at the back of the book. The "r" indicates revised; "p", preliminary; "e", estimated; "a", anticipated; arid "NA", not available.
Graphs of these series are shown on pages 13, 15, 26. and 27.
1
Series is a weighted 4-term moving average (with weights 1,2,2,1) placed at the terminal month of: the span.
2
See "New Features and Changes for This Issue," page iii.
68
FEBRUARY
1980
BUI
CYCLICAL INDICATORS
B
CYCLICAL INDICATORS BY ECONOMIC PROCESS —Con.
MAJOR ECONOMIC
PROCESS
,119 PRICES, COSTS, AND PROFITS
Minor Economic
Process
Stock
Prices
Sensitive Commodity Prices
L,L, L
Timing Class
U,L,L
92. Change in sensitive prices
Year
and
month
Smoothed
data3
Monthly
data 2
(Percent)
(Percent)
Revised"
Revised*
23. Index of
industrial
materials
prices®
(1967=100)
L,L,L
19. Index of
stock prices,
500 common
stocks ©
(1941-43=10)
Profits and Profit Margins
L,L,L
L, L,L
Corporate profits after taxes
16. Current
dollars
(Ann. rate,
bil.dol.)
18. Constant
(1972) dollars
(Ann. rate,
bil.dol.)
L,C,L
L,C,L
Corporate profits after taxes
with IVA and CCA 1
79. Current
dollars
' (Ann. rate,
bil.dol.)
80. Constant
(1972) dollars 2
(Ann. rate,
bil.dol.)
L,L, L
22. Ratio,
profits {after
taxes) to total
corporate
domestic income
(Percent)
1978
January
February
March
0.74
0.27
0.94
1.47
1.36
0.90
219.7
219.9
219.8
90.25
88.98
88.82
106*7
7l'.*2
7CL4
47.*4
April
May
June . .
1.36
0.82
1.82
0.75
0.95
1.19
220.3
217.8
222.1
92.71
97.41.
97.66
122.4
79.*9
84 .*7
55*7
10*7
July
August
September
2.45
0.03
1.37
1,51
1.56
1.36
224.7
232.6
239.1
97.19
103.92
103.86
124*6
79*7
87*7
56.* 7
l6.'7
1.32
1.60
1.22
1.09
1.17
1.40
249.4
254.8
251.8
100.58
94.71
96.11
132*3
83*2
E>89!7
56*9
11*6
1.77
2.92
3.04
1.45
1.75
2.27
258.3
273.5
288.5
99.71
98.23
100.11
142*6
E>87'3
87*6
54*4
E>li'4
-0.35
2.85
2.93
2.22
1.86
1.83
294.5
293.8
293.9
102.07
99.73
101.73
139*3
83*7
87*9
53*4
ll!6
1.63
1.09
3.47
2.14
2.18
1.97
297.3
298.1
297.3
102.71
107.36
108.60
|H}148'3
86.*9
86*8
51 * 5
ll.*2
2.53
1.97
2.86
2.21
2.51
1)2. 56
307.7
304.0
309.6
104.47
103.66
107.78
(NA)
(NA)
(NA)
(NA)
2.96
2.52
E)316.2
3
321.4
DllO.87
6
116.88
October
November
December
. .
9*9
1979
January
February
March
April
May
June
July
August
September
October
November
December
....
(NA)
1980
January
February
March
April . .
May
June . .
...
July
August
September
October
November
December
NOTE: Series are seasonally adjusted except those series that appear to contain no seasonal movement. Unadjusted series are indicated by ©. Current high values are indicated by B); for
series that move counter to movements in general business activity, current low values are indicated by (H>. Series numbers are for identification only and do not reflect series relationships or
order. Complete titles and sources are shown at the back of the book. The "r" indicates revised; "p", preliminary; "e", estimated; "a", anticipated; and "NA", not available.
Graphs of these series are shown on pages 13, 28. and 29. . 1IVA, inventory valuation adjustment; CCA, capital consumption adjustment. 2Series
reaching highs before 1978: series 92 (monthly), February 1977 (4.95); series 80, 3d quarter 1977 (60.3). 3See footnote 1 on
page 68. ''See "New Features and Changes," page iii. ^Average for February 5, 12, and 19. 6Average for February 6, 13, and 20.
FEBRUARY 1980
69
CYCLICAL INDICATORS
B I
CYCLICAL INDICATORS BY ECONOMIC PROCESS —Con.
MAJOR ECONOMIC
PROCESS
Minor Economic
Process
Timing Class ,
Year
and
month
QH PRICES, COSTS, AND PROFITS-Con.
Profits and Profit Margins-Con.
U, L,L
UL, L
81. Ratio,
profits (after
taxes) with IVA
and CCA to
corp. domestic
income1 2
15, Prof its (after
taxes) per dollar
of sales, all
manufacturing
corporations
(Percent)
(Cents)
Unit Labor Costs and Labor Share
Cash Flows
L, L, L
L,L, L
L,L,I_
26. Ratio, price
Net cash flow, corporate
to unit labor
cost, nonfarm
business sector 2 34. Current
35. Constant
dollars
(1972) dollars
(1967=100)
(Ann. rate,
bil.dol.)
(Ann. rate,
bil.dol.)
Lg, Lg, Lg
63. Index of
unit labor cost,
private business
sector
(1967=100)
Lg, Lg, Lg
Lg, Lg, Lg
Lg, Lg, Lg
68. Labor cost
per unit of real
gross domestic
product; nonfinancial
corporations
(Dollars)
62. Index of
labor cost per
unit of output,
manufacturing
64. Compensation of employees as a percent
of national
income 2
(1967=100)
(Percent)
Revised3
1978
January
February
March
6*.2
5!o
94*,7
178*.i
114'.4
189*,4
1.002
161.5
163.9
164.4
76,*7
April
May
Juns
7.'i
sii
95.'8
19515
12X5
192J
1,009
163.1
163.2
163,3
75.6
July
August
September ...
Y.2
sis
96.'6
197.*3
122^5
195,*2
1..024
163.6
163.1
163.9
7$A
October
November
December
Y.2
5^7
96.'6
205^7
125^8
19916
1.042
164,9
166,6
167.8
75!6
January
February
March
....
6.6
B>5.'9
94^7
216\6
129!8
205^9
1.075
170.6
171.8
172.0
75.'5
April
May
June
6.6
5.*6
94^4
217.*3
]27,'4
211.'7
1.104
1175.2
173.3
174.0
75^9
6.'6
5.'8
94*. 2
M)22B\3
D13615
217^6
E>1.127
175.0
176,4
176,7
75.Q
...
1979
...
...
July
August
Septsmbsr
October
November ...
December
(NA)
(NA)
94*. 0
(NA)
(NA)
[gV^hi
(NA)
178.4
r!79.7
r!81.7
(NA)
1980
January
...
February ...
March
....
[fi>pl82.4
April
May
June
July
August
September
October
November
December .
NOTE: Series are seasonally adjusted except those series that appear to contain no seasonal movement. Unadjusted series are indicated by ©. Current high values are indicated by[H>; for
series that move counter to movements in general business activity, current low values are indicated by [H). Series numbers are for identification only and do not reflect series relationships or
order. Complete titles and sources are shown at the back of the book. The "r" indicates revised; "p", preliminary; "e"( estimated; "a", anticipated; and "NA"( not available.
Graphsof these series are shown on pages 15, 29. and 30, HVA, inventory valuation adjustment; CCA, capital consumption adjustment. 2Series
reaching highs before 1978: series 81, 3d quarter 1977 (8.1); series 26, 3d quarter 1975 (98.1); series 64, 4th quarter 1976
(76.8). 3See "New Features and Changes for This Issue,11 page iii.
70
FEBRUARY 1980
KCII
CYCLICAL INDICATORS
B
CYCLICAL INDICATORS BY ECONOMIC PROCESS —Con.
MAJOR ECONOMIC
PROCESS
^9 MONEY ANDCREDIT
Minor Economic
Process
Timing Class .
Velocity of Money
Money
L,L,L
.. .
j 85. Change in
money supply
(Ml)
Year
and
month
(Percent)
(3)
L.L.L
L,C,U
102. Change
in money
supply plus
time deposits
at commercial
banks (M2)l
104. Change in total liquid assets
Monthly
data
Smoothed
data 2
(Percent)
(Percent)
(3)
Revised3
(Percent)
Revised3
U L, L
t, L, L
105. Money
supply (M1)
in 1972
dollars
106. Money
supply (M2)
in 1972
dollars
c,c,c
107. Ratio,
gross national
product to
money supply
(Ml)
(Bil.dol.)
(Bil.dol.)
(Ratio)
(3)
(3)
(3)
C, Lg( C
Credit Flows
L, L, L
33. Net change
108. Ratio,
personal income in mortgage debt
to money supply held by financial
(M2)
institutions and
life insurance
companies
(Ann. ratey
bil.dol.)
(Ratio)
(9)
Revised3
1978
0.94
0.15
0.23
0.82
0.42
0.39
0.83
0.82
1.08
0.99
0.93
0.89
E>228.4
227.2
226.0
E>545.0
543.8
541.6
5.872
1.983
1.991
2.011
82.43
85.03
89.80
April
May
June
1.37
0.80
0.51
0.94
0.77
0.71
1.06
1.11
0.79
0.95
1.03
1.03
227.2
227.1
226.3
542.1
541.8
540.9
6.005
2.019
2,017
2.023
85.40
93.48
89.80
July
August
September
0.54
0.65
1.12
0.70
0.94
1.06
0.81
1.03
1.18
0.94
0.89
0.94
226,2
226.3
226.9
541.6
543.4
544.5
6.044
2.039
2.033
2,029
89.15
101.17
92.98
October
November
December
0.14
-0.14
0.60
0.55
0.39
0.68
1.33
0.93
0.98
1.01
1.02
225.4
223.7
222.8
543.4
543.1
541.8
6.190
2.045
2.057
2.078
94.51
94.62
91.61
0.00
0.22
0.34
0.57
0.80
1.19
0.96
0.85
0.81
220.1
217.0
215.2
537.0
531.9
528.4
6.369
2.087
2.102
2.118
96.13
88.34
88.46
0.05
1.26
1.19
0.45
1.18
1.12
0.93
1.30
0.94
1.06
216.1
213.9
214.5
528.9
525.5
526.6
6.345
2.103
2.106
2.096
74.15
92.20
94.20
0.86
0.56
0.96
1.07
0.91
1.02
0.70
0.86
214.3
213.2
213.0
527.1
526.3
526.0
6.372
H>1.37
1.05
0.96
0.96
2.104
2.100
2.093
89.04
95.16
87.42
0.21
0.11
0.45
0.72
0.53
0.45
0.58
0.38
0.68
0.96
0.86
0.66
211.3
209.5
207.9
524.6
522.3
518.3
E>r6.459
2.098
2.109
2.123
D107.34
74.28
p52.94
eO.29
eO.30
eO.64
eO,56
e205.4
e512.1
January .
February
March
.
...
0.22
1979
-0.36
-0.22
January
February
March
0.17
April
May
June
1>1.53
July
August
September .
...
October .
November
December
|H>1,10
1980
January
February
March .
April
May
June
[H>e2.130
(NA)
.
July
August
September
October
November
December
NOTE: Series are seasonally adjusted except those series that appear to contain no seasonal movement. Unadjusted series are indicated by ©. Current high values are indicated byE); for
series that move counter to movements in general business activity, current low values are indicated by [H). Series numbers are for identification only and do not reflect series relationships or
order. Complete titles and sources are shown at the back of the book. The "r" indicates revised; "p", preliminary; "e", estimated; "a", anticipated; and "NA", not available.
Graphs of these series are shown on pages 13, 31, and 32.
l
Series 102 reached its high value (1.25) in February 1976. 2See footnote 1 on page 68. 3See "New Features and Changes for
This Issue," page iii.
FEBRUARY 1980
71
CYCLICAL INDICATORS
CYCLICAL INDICATORS BY ECONOMIC PROCESS-Con.
MAJOR ECONOMIC
PROCESS .
HH MONEY AND CREDIT-Con.
Minor Economic
Process
Timing Class
Year
and
month
Credit Flows-Con.
L,L,L
L.L.L
112. Net change
in bank loans
to businesses
(Ann. rate,
bil.dpl.)
11 3. Net
change in
consumer installment
debt
(Ann. rate,
bil.dol.)
L, L,L
110. Total
private
borrowing
L.L.L
L,L,L
(Ann. rate,
mil. dol.)
L.U.U
39. Delinquency 93. Free
rate, 30 days
reserves @
and over, consumer installment loans
14. Current
liabilities
of business
failures® 1
(Mil. dol.)
Interest Rates
Bank Reserves
Credit Difficulties
(Percent)
(Mil. dol.)
L, Lg, U
94. Member
bank borrowing from the
Federal
Reserve®
(Mil. dol.)
L, Lg, Lg
C, Lg, Lg
119. Federal
funds rate©
114. Treasury
bill rate©
(Percent)
(Percent)
2
1978
I )
17.21
19.97
29.24
34.34
48.91
309,956
18,10
26.24
21.96
49,27
51.36
50.48
336,240
July
August
September
13,61
11.78
13.92
41.59
43.58
44.16
345,916
October
November
December
10.90
394 412
-0 94
40.51
45 98
52 79
January
February
March ...
r39 31
r33 07
r5 76
35 go
42 76
43 5Q
»qdq oon
April
May
June
rlQ fi?
4Q ?fi
r31 99
39 67
January ....
February
March
April
•May
June
9.76
8.77
168.31
205,01
324.41
2.42
2.48
2,51
-176
-272
202,99
160.40
178.84
2.44
2.28
2 44
-475
-975
-974
231.82
206.40
127 02
2 42
-1 146
2 42
475 34
178 93
196 54
2 35
2 34
2 45
481
405
344
6,70
6.78
6,45
6.46
6 79
6 32
539
1 >?27
1 111
6 89
7 60
6 31
6 43
6 71
1 ?86
1 147
•) 068
7 81
8 04
8 45
7 07
7 04
7 84
1 ?61
722
£74
8 96
Q 7fi
8 13
in rn
q 19
in n?
in nfi
i n no
9 *3C
9 97
/1 e
9 .*fb
m
m1
IU.U
i n ?d
i n 9Q
/t Q
9 .^y
9 , CO
DC)
i n A7
i n Q/I
11.43
9/r
9 .to
9 . /14br
-38
2.37
-885
-993
-1 049
-417
-749
7,36
R 7Q
1979
July
August
September
October
November
December ....
r91 91
on 7D
rdn ^
29 32
v^O ^d
9Q OC
[H)r43.36
E>53.35
«0
TO
« -?i in
ytfl
cn
26 23
28 88
1O Cn
Ifi9 99
177 flQ
QIC
lTj\v»A9n RSJ/1
|H)r4£UjDb4
COO
QQA
-IC.A
07-3
00
7A.9
QQQ
I 0
7 31
-JC
0
242.76
2
W
«OC/I
[U\9
pnn AR
070 17
9 -57
i /ion
1 777
9 AC
1 17R
1 3Qfi
287 44
9 /ic
QpQ
1
fNA^
\nt\}
o A7
QDA
1 HQ7
2.59
090-3 A-Jf.
QQ7
A.1
QQQ
AC
2 .45
en
2 ,bO
en
2 .64
P
1 7Q
-1,339
1,344
i cni
|Tj\O 099
OSr>-li ,oyy
fiQQ
[H/K
^i Qnft
r n _qci
Phi d^jA
p-949
*-991
pi ,264
M,396
i T 77
1 O, //
IT 1 fl
1 o 70
1 J. / O
9nr
10.18
n
/l 7
, 4/
n o 7
fu\1 9 A 7
lH)lc.O/
1980
January
February
March
nAO 70
a J£.
qo DU
en
/MA \
\nl\)
(NA)
E>13.82
MI3.77
3
12.04
12.52
April
May
June
July
August
September
October
November
December
NOTE: Series are seasonally adjusted except those series that appear to contain no seasonal movement. Unadjusted series are indicated by <u). Current high values are indicated by®; for
series that move counter to movements in general business activity, current low values are indicated by [H>. Series numbers are for identification anly and do not reflect series relationships or
order. Complete titles and sources are shown at the back of the book. The "r" indicates revised; "p", preliminary; "e", estimated; "a", anticipated; and "NA", not aviailable.
Graphs of these series are shown on pages 32. 33, and 34.
Series 14 reached its high value (96.99) in September 1977. 2See "New Features
and Changes for This Issue," page iii. 3Average for weeks ended February 6 and 13. ''Average for weeks ended February 6, 13,
and 20. 3Average for weeks ended February 7, 14, and 21.
72
FEBRUARY 1980
lltll
CYCLICAL INDICATORS
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Con.
MAJOR ECONOMIC
PROCESS
M9| MONEY AND CREDlT-Con.
Minor Economic
Process
Interest Rates-Con.
Timing Class
Outstanding Debt
Lg, Lg, Lg
C, Lg, Lg
U, Lg, Lg
Lg, Lg, Lg
116. Corporate
bond yields®
115. Treasury
bond yields®
117. Municipal
bond yields®
11 8. Secondary
market-yields
onFHA
mortgages©
(Percent)
(Percent)
(Percent)
(Percent)
Year
and
month
Lg, Lg, Lg
Lg, Lg, Lg
7. Bank rates
n short-term
usiness loans
®
109. Average
prime rate
charged by
banks®
(Percent)
(Percent)
Lg, Lg, Lg
66. Consumer
installment
debt
(Mil.dol.)
72. Commercial
and industrial
oans outstanding, weekly
reporting large
commercial
banks
(Mil.dol.)
Lg, Lg, Lg
95. Ratio,
consumer installment debt
to personal
ncome
(Percent)
'(*)
1978
January ...
February
March
April
May
June
Lg, Lg, Lg
....
.
...
July
August
September
8.70
8.70
8.70
7.51
7.60
7.63
5.71
5.62
5.61
9.18
(NA)
9.35
slgo
7.93
8.00
8.00
225,714
228,576
232,652
118,248
119,682
121,346
13.95
14.01
14.06
8.88
9.00
9.15
7.74
r7.87
9.44
9.74
(NA)
8!96
7.94
5.80
6.03
6.22
8.00
8.27
8.63
236,758
241 ,038
245,245
122,854
125,041
126,871
14.12
14.29
14.39
6.28
6.12
6.09
9.96
9.81
9.81
9^92
r8.78
8.10
7.88
7.82
9.00
9.01
9.41
248,711
252,343
256,023
128,005
128,987
130,147
14.38
14.49
14,58
9.14
9.30
9.30
8.07
8.16
8.36
6.13
6.19
6.50
9.94
10.04
10.23
10.94
11.55
259,399
263,231
267,630
131,055
131,786
131,708
14.56
14.61
14.65
9.47
9.52
9.65
8.43
8.43
8.45
6.46
6.31
6.33
10.24
10.24
10.26
12.*27
11.75
11.75
11.75
270,697
274,260
277,885
r 134, 984
r 137 ,740
r!38,220
14.76
14.81
14.84
9.69
8.44
8.55
8.32
6.28
6.25
6.13
10.61
10.49
12^34
9.51
11.75
11.75
11.65
281,990
285,296
287,854
H41.552
. r!44,188
rl46,124
14.99
15.08
15.11
9.47
9.57
9.87
8.35
8.42
8.68
6.13
6.20
6.52
10.46
10.58
11,37
12*.31
11.54
11.91
12.90
290,297
292,743
297,189
rl 49 ,503
rl52,048
rl55,661
15.02
15.04
D15.16
11.17
11.52
11.30
9.44
9.80
9.58
7.08
7.30
7.22
12.41
12,24
E>15.81
14.39
(H>15.55
15.30
299,375
301,782
B> 303, 332
rl55,971
rl54,213
r 154, 592
rl5,ll
H5.06
p!4.99
9.27
8.83
October ...
November
December
....
9.98
,
ll.*44
1979
January
February
March
.
April
May
June
r9.82
July
August
September
. '
October
November .
December .
....
....
(NA)
(NA)
1980
January
February
March
April
May
June
0)11.65
2
13.06
.
E>10.03
3
10. 90
B>7.35
"7.97
D12.60
5
15.25
15.52
(NA)
I)pl58,157
6
160,874
(NA)
....
July
August
September
October
November
December
NOTE: Series are seasonally adjusted except those series that appear to contain no seasonal movement. Unadjusted series are indicated by ®. Current high values are indicated by[H); for
series that move counter to movements in general business activity, current low values are indicated by [H>. Series numbers are for identification only and do not reflect series relationships or
order. Complete titles and sources are shown at the back of the book. The "r" indicates revised; "p", preliminary; "e", estimated; "a", anticipated; and "NA", not available.
Graphs of these series are shown on pages 15, 34, and 35.
*See "New Features and Changes for This Issue," page iii. 2Average for weeks
ended February 1, 8, 15, and 22. 3Average for weeks ended February 1, 8, and 15. *Average for weeks ended February 7, 14,
and 21. 5Average for February 1 through 26. 6Average for weeks ended February 6 and 13.
FEBRUARY 1980
73
CYCLICAL INDICATORS
DIFFUSION INDEXES AND RATES OF CHANGE
Bi DIFFUSION INDEXES
950. Twelve lead ing
indicator components
(series 1,3, 8,12,19,
20,29,32,36,92,104,
106}
Year
and
month
952. Six lagging
indicator components
(series 62, 70, 72, 91,
95, 109}
951. Fourro ughly
coincident ir dicator
components (series
41,47,51,5 7)
961. Average workweek
of production workers,
manufacturing (20
industries)
962. Initial claims for
State unemployment
insurance, week including the 12th
(51 areas)
1-month
span
6-month
span
76.5
56.9
47.1
68.3
69.2
69.5
83.1
79.1
77.6
82.4
11.8
58,8
52.9
60.8
60.8
68.0
57.8
66.6
73.5
72.7
71.2
87.5
50.0
42.5
49.0
42.2
94.1
51.0
76.5
17.6
64.5
60.5
62.5
73.0
77.3
79.7
47.5
70.0
52.5
60.0
65.0
5.0
25.5
29.4
86.3
51.0
66.7
29.4
73.0
75.9
74.4
82.3
82.3
80.5
100.0
100.0
100.0
55.0
37.5
60.0
20.0
7.5
15.0
13.7
72.5
68.6
46.1
27.5
T23.5
70.3
65.1
60.5
74.1
67.4
61.9
91.7
75.0
83.3
83.3
100.0
100.0
0.0
90.0
32.5
10.0
30.0
22.5
7.8
66.7
66.7
56.9
49.0
r29.4
44.8
54.7
57.0
58.1
50.3
46.8
66.7
83.3
75.0
100.0
r83.3
75.0
62 .,5
35.0
72.5
37.5
r37.5
p90.0
r35.3
56.9
86.3
21.6
p27.5
(NA)
61.6
48.8
46.8
56.1
r55.8
r55.8
83.3
r41.7
50.0
"75.0
47.5
r62.5
r60.0
r9.8
r53.9
p68.6
69.8
59.9
r59.3
p60.5
p57.5
(NA)
p62.2
1 -mo nth
span
6-month
span
1-month
Span
9-month
span
1 -month
span
100.0
100.0
91.7
100.0
100.0
100.0
0.0
77,5
92.5
82,5
70.0
55.0
33.3
47.1
54.9
66.7
100.0
91.7
100.0
83.3
83.3
75.0
15.0
52.5
45.0
65.0
95.0
100.0
100.0
100.0
83.3
.83.3
83.3
100.0
100.0
100.0
50.0
42,5
65.0
100.0
100.0
100.0
100.0
100.0
100.0
66.7
.100.0
83.3
100.0
100.0
83.3
25.0
75.0
100.0
75.0
87.5
50.0
83.3
75.0
75.0
12.5
75.0
75.0
75.0
50.0
25.0
45.8
33.3
36.4
100.0
50.0
62.5
rlOO.O
50.0
50.0
40.0
50.0
50.0
75.0
1 -month
span
1-month
span
6-month
span
January
February
March
45.8
62.5
41,7
58.3
54.2
58.3
25.0
75.0
100.0
100.0
100.0
100.0
April
May
June
66.7
54.2
62.5
54.2
50.0
58.3
100.0
50.0
75.0
100.0
100.0
100.0
July
August
September
45.8
50.0
62.5
62.5
83.3
66.7
75.0
100.0
62.5
54.2
37.5
66.7
66.7
66.7
54.2
58.3
HI, 7
r66.7
33.3
r41,7
r41.7
r25.0
r45.8
50.0
r41.7
r33.3
25.0
6-month
span
963. Number of employees on private
nonagricultural pay rolls
(172 industries}
9-month
span
1978
....
October
November
December
1
1979
January
February
March
-
April
May
June
July
August
September
;
:
October
November
December
1
....
I!
r4K7
r33.3
r62.5
r41.7
16.7
*63.6
X
2
3
33.3
1980
January
February
March
2
40.0
3
66.7
"62.5
April
May
June
July
August
September
October
November
December
NOTE: Figures are the percent of series components rising. (Half of the unchanged components are counted as rising.) Data are centered within the spans: 1-month indexes are placed on
the 2d month, 6-month indexes on the 4th month, and 9-month indexes on the 6th month of the span. Diffusion indexes 961, 962, and 963 are computed from seasonally adjusted components; indexes 950,951, and 952 are computed from the components of the composite indexes. The "r" indicates revised; "p", preliminary; and "NA", not available.
Graphs of these series are shown on page 36.
Excludes series 12 for which data are not yet available.
a
Excludes series 12 and 36 for which data are not yet available.
3
Exeludes series 57 for which data are not yet available.
^Excludes series 70 and 95 for which data are not yet available.
74
FEBRUARY
1980
lid*
CYCLICAL INDICATORS
DIFFUSION INDEXES AND RATES OF CHANGE—Con.
BB DIFFUSION INDEXES-Con.
964. Value of manufacturers' new orders,
durable goods industries (35 industries)
Year
and
month
1 -month
span
965. Newly approved
capital appropriations,
deflated, The
Conference Board
J17 industries)
9-month
span
1 -quarter
span
966. Index of industrial
production (24
industries)
967. Index of industrial
'materials prices ®
(13 industrial materials)
1-month
span
6-month
span
1 -mo nth
span
*49
39.6
47,9
85.4
83.3
79.2
91.7
69.2
34.6
46.2
*50
87.5
54.2
83.3
87.5
87.5
85.4
*48
70.8
83.3
70.8
4-Q moving
avg.
9-month
span
968. Index of stock
prices, 500 common
stocksl * ®
1 -month
span
9-month
span
960. Net profits,
manufacturing 2 ®
(about 700 companies)
1-quarter
span
4-quarter
span
1978
January
February
March
40.0
65.7
60.0
90.0
94.3
77.1
62
April
May
June
65.7
52.9
54.3
82.9
85.7
94.3
27
July
August ....
September .
31.4
82.9
60.0
88.6
74.3
91.4
59
October
November
December
82.9
42.9
60.0
88.6
91.4
92.9
50
January
February . .
March
57.1
45.7
65.7
80.0
80.0
52.9
53
April
May
June
25.7
62.9
48.6
68.6
55.7
57.1
45
July
August
September
40.0
65.7
54.3
54.3
r39
r48.6
p68.6
3
8.1
66.7
66.7
3
58.3
30.6
50.0
"49.1
"62.1
"69.8
'78
50.0
61.5
80.8
69.2
80.8
84.6
90.7
90.7
59.3
"82.8
"86.2
"87.7
'78
87.5
87.5
91.7
65.4
69.2
76.9
88.5
92.3
88.5
28.8
98.3
37.3
"70.2
"67.5
"68.4
*80
87.5
77.1
81.3
88.5
80.8
42.3
88.5
88.5
92.3
8.6
0.0
69.0
39.1
47.3
67.3
'74
*52
66.7
79.2
87.5
58.3
58.3
50.0
61.5
76.9
76.9
96.2
96.2
88.5
94.8
35.5
85.5
18.2
32.7
57.4
'71
r47
54.2
52.1
66.7
56.3
54.2
45.8
69.2
42.3
53.8
80.8
84.6
p46
16.7
64.6
66.7
80.0
16.4
90.0
90.7
88.9
75.0
45.8
45.8
52.1
70.8
46.2
30.8
53,8
S
r50.Q
r56.3
64.8
92.6
53.7
63.0
68.5
68.5
=62.5
S6
3
1979
51.4
45.7
October
November
December
p48
r57.1
r58.3
r50.0
r50.0
p71.4
p37.5
p37.5
5
91.7
5
66.7
66.7
= 58.3
61.5
76.9
3.7
38.0
95.4
50.0
74.1
66.7
,,,
(NA)
1980
January
February
March
April
May
June
6
..
65.4
...
July
August
September
October
November
December
NOTE: Figures are the percent of series components rising. (Half of the unchanged components are counted as rising.) Data are centered within the spans: 1-month indexes are placed on
the 2d month, 6-month indexes on the 4th month, and 9-month indexes on the 6th month of the span; 1-quarter indexes are placed on the 1st month of the 2d quarter, 3-quarter indexes on
the 1st month of the 3d quarter, and 4-quarter indexes on the 2d month of the 3d quarter. Seasonally adjusted components are used except in index 968, which requires no adjustment and
index 969, which is adjusted as an index (1-quarter span only). Unadjusted series are indicated by ©.The "r" indicates revised; "p", preliminary; and "IMA", not available.
Graphs of these series are shown on page 37.
*Based on 62 industries through March 1978, on 59 industries through September 1978, on 58 industries through January 1979,
on 55 industries through June 1979, and on 54 industries thereafter. Data for component industries are not shown in table C2
but are available from the source agency.
2
This is a copyrighted series used by permission; it may not be reproduced without written permission from Dun and Bradstreet,
Inc.
3
Based on 12 components (excluding print cloth).
*Based on 58 components for January 1978 through May 1978, and on 57 components through September 1978.
3
Based on 12 components (excluding rosin).
6
Average for February 5, 12, and 19.,
FEBRUARY
1980
75
CYCLICAL INDICATORS
DIFFUSION INDEXES AND RATES OF CHANGE—Con.
DIFFUSION INOEXES-Con.
Year
and
quarter
973. Net sales, manufacturing
and trade1 ©
972. Net profits, manufacturing
and trade1®
970, Business expenditures for new plant and
equipment {18 industries)
971. New orders, manufacturing1®
a. Actual
expenditures
b. Later
anticipations
c. Early
anticipations
Actual
(1-Qspan)
(1-Qspan)
(1-Qspan)
(4-Q span)
(4-Q span)
(4-Q span)
66.7
75.0
88.9
44.4
61.1
72.2
69.4
58.3
66.7
66.7
66.7
72.2
80
83
82
82
80
86
88
84
71
74
74
76
61.1
88.9
61.1
66.7
77.8
69.4
63.9
72.2
61.1
66.7
61.1
69.4
83
86
86
86
82
83
88
86
66.7
77.8
83.3
(NA)
66.7
72.2
66.7
72.2
55.6
72.2
69.4
77.8
85
81
73
(NA)
80
84
80
72
Anticipated
Anticipated
Actual
Anticipated
Actual
(4-Q span)
(4-Q span)
78
80
84
82
81
84
85
82
86
90
86
73
76
78
78
79
82
84
83
84
86
88
88
86
87
92
90
78
74
70
(NA)
78
82
80
70
87
84
82
(NA)
85
88
84
78
(4-Q span)
1977
First quarter ..
Second quarter
Third quarter..
Fourth quarter
1978
First quarter ..
Second quarter
Third quarter..
Fourth quarter
1979
First quarter ..
Second quarter
Third quarter..
Fourth quarter
1980
72
66
66
47,2
First quarter ..
Second quarter
Third quarter..
Fourth quarter
DIFFUSION INDEXES-Con.
Year
and
quarter
974. Number of employees,
manufacturing and trade1®
975, Level of ^inventories,
manufacturing and trade1®
976. Selling prices, manufacturing1 (tj)
Actual
Actual
Actual
Anticipated
(4-Q span)
(4-Q span)
Anticipated
Anticipated
977. Selling prices, wholesale
trade 1 ®
978, Selling prices, retail
trade1 ®
Actual
Actual
Anticipated
(4-Q span)
(4-Qspan)
(4-Q span)
(4-Q span)
(4-Q span)
(4-Q span)
Anticipated
(4-Q span)
(4-Qspanj
1977
First quarter ..
Second quarter
Third quarter..
Fourth quarter
60
59
61
62
59
60
61
59
74
72
74
75
65
68
72
70
86
86
87
87
78
81
86
82
87
86
88
90
80
86
86
84
90
86
92
92
86
84
89
88
62
64
64
63
59
60
62
62
76
76
76
78
67
70
73
74
87
88
90
91
82
84
87
87
89
92
93
94
84
90
87
90
91
94
94
93
90
88
92
92
62
60
60
(MA)
60
60
58
56
80
76
73
CNA)
70
74
71
68
92
93
92
(NA)
86
88
88
86
96
95
95
(NA)
88
90
92
90
94
95
94
(NA)
90
92
92
90
1978
First quarter ..
Second quarter
Third quarter..
Fourth quarter
1979
First quarter ..
Second quarter
Third quarter..
Fourth quarter
1980
First quarter ..
Second quarter
Third quarter..
Fourth quarter
54
62
87
90
90
NOTE: Figures are the percent of series components rising. (Half of the unchanged components are counted as rising.) Data are placed on the terminal month of the span. Series are seasonally adjusted except those, indicated by ® , that appear to contain no seasonal movement. The "r" indicates revised; "p", preliminary; and "NA", not available.
Graphs of these series are shown on page 38.
*This is a copyrighted series used by permission; it may not be reproduced without written permission from Dun and Bradstreet,
Inc.| Dun and Bradstreet diffusion indexes are based on surveys of about 1,400 business executives.
76
FEBRUARY 1980
ItCII
CYCLICAL INDICATORS
C I
DIFFUSION INDEXES AND RATES OF CHANGE-Con.
Qj SELECTED DIFFUSION INDEX COMPONENTS: Basic Data and Directions of Change
1979
Diffusion index components
August
July
June
September
1980
October
November
December**
-
+
January*5
961. AVERAGE WORKWEEK OF PRODUCTION WORKERS, MANUFACTURING '
(Average weekly hours)
-
All manufacturing industries
Percent rising of 20 components
40.1
+
(32)
40.2
-
40.1
+
(35)
(62)
40.2
o
40,2
-(62)
(48)
(72)
40.1
40.3
+
(60)
40.4
(58)
Durable goods industries:
Lumber and wood products
Furniture a n d fixtures
.
.
.
.
Stone clay and glass products
Primary metal industries
o
o
39.4
38.5
-
39.3
38.4
+
-
39.5
38.3
+
+
39.7
38.6
+
39.4
38.8
+
r38.9
38.9
+
+
39.2
39.0
+
o
39.5
39.0
-
41.6
41.2
+
41.4
41.3
-
41,3
41.0
+
o
41.5
41.0
+
41.3
41.1
+
-
41.5
40.7
+
-
41.7
40.6
+
-
42.0
40.4
+
+
41.1
41.7
+
40.9
41.8
o
+
40.6
41.0
+
40.5
41.4
Fabricated metal products
Machinery, except electrical .
o
o
40.7
42.0
+
-
40.8
41.9
-
40.6
41.6
+
+
40.7
41.9
+
-
40.9
41.6
o
r40.7
. . .
Electrical equipment and supplies
Transportation equipment .,
.
-
40.3
40.8
+
40.2
40.9
+
39.8
41.7
+
-
40.3
40.6
o
+
40.3
41.3
+
-
r40.6
. . .
+
40.6
38.9
+
+
40.7
39.3
-
40.5
39.1
+
o
40.6
39.1
+
o
40.7
39.1
+
o
r41.0
39.1
o
40.9
39.1
+
40.6
39.6
o
-
39.8
37.6
o
+
39.8
38.5
-
39.7
38.0
+
+
40.0
38.6
-
39.9
38.3
+
-
r40.0
r37.8
o
+
40.0
39.2
+
-
40.1
39.1
+
o
40.1
35.2
o
+
40.1
35.3
o
o
40.1
35.3
+
o
40.6
35.3
+
o
40.8
35.3
+
o
r41.1
35.3
o
+
41.1
35.7
+
-
41.9
35.6
o
42.5
37.4
o
+
42.5
37.5
+
+
42.6
37.7
-
42.4
37.5
+
-
42.6
37.4
+
+
42.7
37.6
+
-
43.0
37.4
o
+
43.0
38.1
-
41.7
43.3
+
+
41.9
43.6
+
+
42.0
43.7
+
41.7
44.1
o
-
41.7
43.7
+
+
41.9
r44.4
-
41.8
44.3
o
-
41.8
43.8
+
40.7
36.4
+
40.6
36.6
-
40.2
36.5
+
+
40.3
37.0
o
-
40.3
36.5
+
+
39.9
36.8
+
+
40.3
37.2
Instruments and related products .
Miscellaneous manufacturing industries
. . .
41.6
40.6
Nondurable goods industries:
Food and kindred products.
Tobacco manufactures
.
,
Textile mill products .
..
..
Apparel and other textile products
..
Paper and allied products
Printing and publishing
....
Chemicals and allied products
Petroleum and coal products
.
.
. . . .
Rubber and plastic products, n e e . .
Leather and leather products
964. VALUE OF MANUFACTURERS' NEW ORDERS, DURABLE GOODS INDUSTRIESI
(Millions of dollars)
All durable goods industries.
- 75,820
..
Percent rising of 35 components
(49)
Primary metals
Fabricated metal products
Machinery except electrical . .
Electrical machinery
..
Transportation equipment . . .
Other durable goods industries
.
.
. . .
- 72 5 545
(40)
+ 74,029
(6.6)
+ 77,560
(54)
- 76,663
(51)
r40.0
36.7
2
- 75,417
(46)
+ 77,751
(57)
+ 81,081
(71)
+ 11,658
- 8,878
- 10,937
+ 8,994
- 10,707
+ 9,268
+ 11,707
- 8,745
+ 12,315
+ 9,503
- 11,554
- 9,035
- 11,415
+ 9,641
+ 13,719
- 9,171
+ 13,502
+ 9,690
- 13,105
- 8,867
+ 13,401
+ 9,833
+ 13,983
- 9,796
+r!4,102
- 9,661
- 13,816
+ 9,720
+ 14,130
+ 10,073
+ 14,931
+ 10,726
- 17,586
- 14,506
- 15,874
+ 14,768
+ 16,230
- 14,590
+ 18,323
+ 15,006
- 15,686
+ 15,396
+ 16,341
- 14,951
+ 17,390
+ 15,102
- 16,446
+ 16,088
NOTE: To facilitate interpretation, the month-to-month directions of change are shown along with the numbers: (+) = rising, (o) = unchanged, and (-) = falling. The "r" indicates revised;
"p", preliminary; and "NA", not available.
x
Data are seasonally adjusted by the source agency.
2
Data for most of the 35 diffusion index components are not available for publication; however, they are included in the totals
and directions of change for the six major industry groups shown here.
ItCII
FEBRUARY
1980
77
CYCLICAL INDICATORS
DIFFUSION INDEXES AND RATES OF CHANGE—Con.
HH SELECTED DIFFUSION INDEX COMPONENTS: Basic Data and Directions of Change-Con.
X
1979
Diffusion index components
August
July
June
1980
October
September
Novemberr
Decemberr
-
4 152.3
Januaryp
966. INDEX OF INDUSTRIAL PRODUCTION '
(1967=100)
151.6
4 152.4
(46)
(46)
(52)
4
124.3
- 149.3
4 127.1
o 149.3
- 121.0
- 147.6
+ 121.7
- 146.5
Machinery and allied goods
Nonelectrical machinery.
Electrical machinery
Transportation equipment
Instruments
4 164.5
4
175.1
- 139.4
4
175.9
+
165.3
- 174.4
- 135.5
- 174.0
+
166.2
171.7
- 124.7
- 173.9
+
+
-
Lumber, clay, and glass
Clay, glass, and stons products.
Lumber and products
162,7
4 136.8
+ 163.3
- 135.2
161,4
4 138.0
+
o
+
159.6
152.7
159.5
4 155.7
+
o
161.7
155.7
+ 162,0
- 153.6
Nondurable manufactures:
Textiles, apparel, and leather
Textile mill products
Apparel products
Leather and products
4 144.6
4 132.0
70.1
- 143.0
129.7
69.7
4 144.1
+
130.1
o 69.7
4 146.9
+ 131.2
+ 70.8
Paper and printing
Paper and products
Printing and publishing
4 148.0
4 136.9
4
154.0
- 135.6
153.9
+ 137.7
+
-
155,3
137.1
-
+ 143.9
4
210.5
o 143.9
+ 213.1
143,0
+
212.0
143,1
o
4
-
-
272.9
4
All industrial production
Percent rising of 24 components1
Durable manufactures:
Primary and fabricated metals
Primary metals
. .,
Fabricated metal products
Furniture and miscellaneous
Furniture and fixtures
Miscellaneous manufactures
,
..
Chemicals, petroleum, and rubber
Chemicals and products .
Petroleum products .
Rubber and plastics products
Foods and tobacco
Foods
Tobacco products
Mining:
Coal
Oil and gas extraction
Metal, stone, and earth minerals
Metal mining
Stone and earth minerals
..
. .
152.6
4 152.8
(67)
207.8
270.0
278.0
-
275.7
- 152.2
(58)
152.1
152.7
(38)
(50)
(50)
117.2
146.9
- 116.4
- 146.8
114.6
- 146.7
- 162.3
165.1
176.7 + H77.3
131.7
+ r!33.7
4
175.0
172.9
+
163.1
+
179.4
- 128.2
173.4
162.5
4 181.4
- 126.2
4
175.9
4
+
-
4
160,6
138.6 4
4
162.8
- 135.6
4 163.5
- 133.4
4
- 160.7
4 156.0
-
rllS.O
4 147.5
162.3
138.7
4
H63.3
+
154.5
-
r!46.0
-
128.5
70.1
-
162.9
155.3
4 147.4
4
129.3
4
70.4
-
146.6
4
(NA)
70.9
(NA)
(NA)
(NA)
4 156.1
(NA)
(NA)
(NA)
-
154,1
r!37.2
153.3
- 136.5
4 153,9
4
137.9
4 154.4
4
139.3
+
r211,4
r!41.1
r274.5
4 214.5
4 141.6
271.1
4 216.6
4 142.5
4 145.0
-
266.0
(NA)
148.2
(NA)
(NA)
- 149.4
+
118.9
- 148.1
- 107.5
+ 148.8
+ 116.4
- 148.6
115.6
- 148.3
1)4.7
-
4- 137.5
+
119.6
137.1
+ 120,4
4
144.1
+ 121.6
o
4 144.7
•4 123.2
137.3
+
-
- 126.5
+
138.3
- 122.1
- 137.5
142.6
121.6
167.9
182.2
121.8
175.7
+
4
149.5
- 118.3
128.6
136.4
4
(NA)
(NA)
+
r!24.2
4
141.9
125,7
4 147.7
4
127.7
4
+
H24.1
138.2
4 132.0
+
141.2
4
135.7
- 140.3
- 147.3
4
129.0
(NA)
(NA)
NOTE: To facilitate interpretation, the month-to-month directions of change are shown along with the numbers: (+) - rising, (o) = unchanged, and (-) = falling. TSie "r " indicates revised;
"p", preliminary; and "NA", not available.
1
Data are seasonally adjusted by the source agency.
3
Where actual data for separate industries are not available, estimates are used to compute the percent rising.
78
FEBRUARY 1980
CYCLICAL INDICATORS
DIFFUSION INDEXES AND RATES OF CHANGE-Con.
JQ SELECTED DIFFUSION INDEX COMPONENTS: Basic Data and Directions of Change-Con.
Diffusion index components
1980
1979
July
June
August
September
October
November
January
December
February1
967. INDEX OF INDUSTRIAL MATERIALS PRICES 2
Industrial materials price index (1967=100) . . . . o
Percent rising of 13 components
293.9 +
(54)
297.3 +
298.1
(46)
-
297.3
+
3
(54)
(31)
307.7
-
304.0 +
'(62)
(62)
309.6
+
316.2 +
(50)
(77).
321.4
(65)
Dollars
Copper scrap
(pound). . (kilogram). .
0.681 1.501
0.663
1.462
+
0.702
1.548
+
0.725
1.598
+
0.729
1.607
+
0.746
1.645
+
0.872
1.922
o
0.872 +
1.922
1.003
2.211
Lead scrap
(pound). . +
(kilogram). .
0.256 +
0.564
0.267
0.589
-
0.263
0.580
o
0.263
0.580
-
0.258
0.569
+
0.399
0.880
-
0.373
0.822
-
0.346 0.763
0.342
0.754
(U.S. ton). . + 107.000 - 98.400
117.946
108.466
(metric ton). .
Steel scrap
- 91.500
100.860
- 87.000
95.900
o 87.000
95.900
+ 92.000
101.412
+ 93.000
102.514
+
96.750 + 100.000
106.647
110.230
7.805 + 7.863
17.207
17.335
Tin
(pound). . +
(kilogram). .
7.020 +
15.476
7.134
15.728
-
6.845
15.090
+
7.040
15.520
+
7.520
16.579
+
7.588
16.729
+
7.890
17.394
-
Zinc
(pound). . 0
(kilogram). .
0.395 +
0.871
0.397
0.875
-
0.368
0.811
-
0.360
0.794
+
0.373
0.822
-
0.369
0.813
+
0.375
0.827
o
0.375 +
0.827
0.382
0.842
Burlap
(yard). . 0
(meter). .
0.181 +
0.198
0.239
0.261
+
0.349
0.382
-
0.345
0.377
+
0.370
0.405
+
0.391
0.428
+
0.417
0.456
-
0.404 0.442
0.381
0.417
Cotton
(pound). . +
(kilogram). ..
0.638 1.407
0.619
1,365
+
0.622
1.371
+ . 0.624
1.376
+
0.630
1.389
+
0.632
1.393
+
0.664
1.464
+
0.726 +
1.601
0.810
1.786
Print cloth
(yard)
(meter). .
0.720 0.787
0.708 0.7741
0.654
0.715
-
0.644
0.704
-
0.628
0.687
-
0.620
0.678
+
0.625
0.683
o
0.625 +
0.683
0.647
0.708
Wool tops
(pound). . o
(kilogram). .
2.850 o
6.283
2.850
6.283
o
2.850
6.283
+
2.888
6.367
+
2.980
6.570
+
3.050
6.724
+
3.140 +
6.922.
3.150 +
6.944
3.183
7.017
Hides
(pound)
(kilogram). .
0.955 2.105
0.834
1.839
-
0.820
1.808
-
0.795
1.753
-
0.786
1.733
-
0.740
1.631
+
0.780
1.720
+
0.825 1.819
0.747
1.647
(100 pounds). o
(100 kilograms). .
28.500 o
62.831
+ 40.500
89.286
- 40.200
88.625
-
Rosin
.
.
.
28.500 • o 28.500
62.831
62.831
o 28.500
62.831
(NA)
CNA)
40.000 o 40.000
88.184
88.184
Rubber
(pound). . +
(kilogram). .
0.677
1.493
0.664
1.464
-
0.649
1.431
+
0.651
1.435
+
0.677
1.493
-
0.665
1.466
+
0,679
1.497
+
0.743 +
1.638
0.839
1.850
Tallow
(pound). . (kilogram). .
0.217 -f
0.478
0.227
0.500
-
0.225
0.496
+ ' 0.228
0.503
-
0.213
0.470
-
0.187
0.412
-
0.185
0.408
-
0.180 0.397
0.169
0.373
NOTE: To facilitate interpretation, the month-to-month directions of change are shown along with the numbers: (+) = rising, (o) = unchanged, and (-) = falling. The "r" indicates revised;
"p", preliminary; and "NA", not available.
1
Average for February 5, 12, and 19.
2
Data are not seasonally adjusted. Components are converted to metric units by the Bureau of Economic Analysis.
3
Based on 12 components.
KCII
FEBRUARY
1980
79
OTHER IMPORTANT ECONOMIC MEASURES
|A I
NATIONAL INCOME AND PRODUCT
GNP AND PERSONAL INCOME
Year
and
quarter
50. Gross national product in 1972 dollars
200. Gross national product in current dollars
. Total
c. Percent
change at
annual rate
b. Difference
.Total
c. Percent
change at
annual rate
b. Difference
(Ann. rate,
bil.dol.)
(Ann. rate,
bil.dol.)
(Ann. rate,
bil.dol.)
1,653.7
1,683.1
1,715.8
1,756.1
55.7
29.4
32.7
40.3
14.7
7.3
8.0
9.8
1,259.5
1,267.4
1,277.1
1,288.1
31.6
7.9
9.7
11.0
1,820.2
1,876.0
1,930.5
1,971.3
64.1
55.8
54.5
40.8
15.4
12.8
12.1
8.7
1,315.7
1,331.2
1,353.9
1,361.3
2,011.3
2,104.2
2,159.6
2,235.2
40.0
92.9
55.4
75.6
8.4
19.8
10.9
14.8
2,292.1
2,329.8
2,396.5
r2,459.4
56.9
37.7
66.7
r62,9
10.6
6.7
11.9
(Ann, rate,
bil.dol.}
217. Per capita
GNP in 1972
dollars
213. Final sales
in 1972 dollars
(Ann. rate,
dollars)
{Ann. rate,
bil.dol.)
1976
First quarter ..
Second quarter
Third quarter..
Fourth quarter
2.6
3.1
3.5
5,869
5,896
5,929
5,967
1,250.6
1,257.7
1,270.3
1,287.0
27.6
15.5
22.7
7.4
8.9
4.8
7.0
2.2
6,084
6,145
6,236
6,256
1,304.4
1,317.8
1,337.3
1,350.0
1,367.8
1,395.2
1,407.3
1,426.6
6.5
27.4
12.1
19.3
1.9
8.3
3,5
5.6
6,276
6,390
6,431
6,5015
1,351.3
1,379.6
1,395.1
1,414.6
1,430.6
1,422.3
1,433.3
4.0
-8.3
1.1
-2.3
6,512
6,460
6,494
r6,511
1,418.4
1,404.1
1,426.2
rl,438,2
10.7
1977
First quarter ,.
Second quarter
Third quarter..
Fourth quarter
1978
First quarter ..
Second quarter
Third quarter..
Fourth quarter
1979
First quarter ..
Second quarter
Third quarter,.
Fourth quarter
rio,9
11.0
r7,4
rl,440,7
GNP AND PERSONAL INCOME-Con.
Year
and
quarter
PERSONAL CONSUMPTION EXPENDITURES
230. Total in current
dollars
224. Current dollars 225.Constant
(1972) dollars
(Ann. rate,
bil.dol.)
(Ann. rate,
bil.dol.)
3,1
r2.1
231. Total in 1972
dollars
232. Durable goods
in current dollars
233. Durable goods
in 1972 dollars
227. Per capita in
1972 dollars
(Ann. rate,
dollars)'
(Ann. rate,
bil.dol.)
(Ann. rate,
bil.dol.)
(Ann. rate,
bil.dol.)
(Ann. rate,
bil.dol.)
1976
First quarter ..
Second quarter
Third quarter..
Fourth quarter
1,152.2
1,170.2
1,193.1
1,222.6
883.1
887.7
893,4
903.3
4,115
4,130
4,148
4,185
1,053.3
1,073.7
1,100.5
1,132.0
807.3
814.5
824,0
836.4
152.9
155.6
158.3
162.9
125.5
126.0
126.5
128.5
1,250.1
1,286.0
1,323.2
1,361.2
908.0
921.5
936.3
951.8
4,200
4,255
4,313
4,375
1,169.1
1,190.5
1,220.6
1,259,7
849,2
853,1
863.7
880.9
174.3
175.7
178.9
186,4
135.8
136.6
138.2
142.4
1,395.0
1,437,3
1,476.5
1,524,8
956.6
966.1
976.2
991.5
4,390
4,426
4,462
4,522
1,287.2
1,331.2
1,369.3
1,415.4
882.7
894,8
905.3
920.3
185.3
200.3
203.5
212,1
139.3
147.8
147.5
152,1
1,572.2
1,601.7
996.6
993.0
993.4
r994.9
4,536
4,510
1,454.2
1,4-75.9
1,528.6
rl,581.2
921.8
915.0
925.9
r935,9
213.8
208.7
213.4
r216,5
150.2
144.8
146,9
1977
First quarter ..
Second quarter
Third quarter..
Fourth quarter
1978
First quarter ..
Second quarter
Third quarter..
Fourth quarter
1979
First quarter ..
Second quarter
Third quarter..
Fourth quarter
1,640,0
rl,681.0
4,501
r4,496
r!46,9
NOTE: Series are seasonally adjusted except those series that appear to contain no seasonal movement. Unadjusted series are indicated by ®. Series numbers are for identification only and
do not reflect series relationships or order. Complete titles and sources are shown at the back of the book. The "r" indicates revised; "p", preliminary; "e", estimated- "a" anticipated' and
"NA", not available.
Graphs of these series are shown on pages 40 and 41.
80
FEBRUARY 1980
OTHER IMPORTANT ECONOMIC MEASURES
A
I
NATIONAL INCOME AND PRODUCT—Con.
H9 PERSONAL CONSUMPTION EXPENDlTURES-Con.
236. Nondurable
goods in current
dollars
Year
and
quarter
237. Services in
current dollars
238. Nondurable
goods in 1972
dollars
239, Services in
1972 dollars
(Ann. rate,
bil.dol.)
VQ GROSS PRIVATE DOMESTIC INVESTMENT
240. Total in
current dollars
(Ann. rate,
bil. dot.)
241. Total in
1972 dollars
(Ann. rate,
bil.dol.)
242. Fixed investment, total, in
current dollars
243. Fixed investment, total, in
1972 dollars
(Ann. rate,
bil.dol.)
(Ann. rate,
bil.dol.)
(Ann. rate,
fail, dol.)
(Ann. rate,
bil.dol.)
(Ann. rate,
.bil.dol.)
431.2
438.2
448.2
458.1
315.6
319.4
323.3
327.6
469.2
479.9
494.0
511.0
366.2
369.1
374.2
380.4
233.5
241.9
246.0
250.7
169.9
173.8
174.2
175.7
220.3
227.4
235.1
249.0
161,0
164.1
167.5
174.6
467.7
475.5
483.0
499.2
328.9
329.6
332.1
340.0
527.1
539.3
558.7
574.1
384.5
386.9
393.3
398.5
280.4
300.0
315.7
316.9
191.0
199.6
206.7
203,0
261.1
277.5
288.2
298.5
179.7
186.2
190.1
191 ,7
505.9
521.8
536.7
558.1
337.3
339.4
344.7
351.9
596.0
609,1
629.1
645.1
406.1
407.6
413.1
416.3
327.0
352.3
356.2
370.5
209.0
216.8
214.0
217.4
304.1
326.5
336.1
349.8
192.5
201.2
201 .8
205.5
571.1
581.2
604.7
r630.6
348.1
344.1
349.2
r355.2
669.3
686.0
710,6
r734.1
423.5
426.1
429.9
P433.7
373.8
395.4
392.3
r387,5
217.2
221.7
214.2
r208.1
354.6
361.9
377.8
r380.8
204.9
203.5
207.1
r205.6
1976
First quarter
Second Quarter
Third quarter
Fourth quarter
....
1977
First quarter
Second quarter
Third quarter
Fourth quarter
1978
First quarter
Second quarter
Third quarter
Fourth quarter
....
1979
First quarter
Second quarter ....
Third quarter .
Fourth quarter ....
D
Year
and
quarter
GROSS PRIVATE
DOMESTIC INVEST.-Con.
245. Change in
business inventories in current
dollars
MB GOVERNMENT PURCHASES OF GOODS AND SERVICES
*J5H,
30. Change in
business inventories in 1972
dollars
260. Total in
current dollars
(Ann. rate,
bil.dol.)
(Ann. rate,
bil. dol.)
{Ann. rate,
bit. dol.)
13.2
14.5
10.8
8.9
9.7
6.7
1.1
355.1
357.5
362.4
370.3
264.7
262.9
262.7
262.6
126.9
-.127.5
P29.8
(134.6
96.1
95.9
96.4
97.1
228.2
230.0
232.6
235.7
168.7
167.1
166.3
165.5
380.0
391.6
400.5
412.8
264.5
267.6
270.3
271 .5
138.2
142.6
145.6
151 .2
98.4
100.3
101 .8
101 .8
241.8
249.0
254.9
261 .6
166.0
167.3
168.5
169.8
261. Total in
1972 dollars
{Ann. rate,
bil.dol.)
262. Federal
Government in
current dollars
263. Federal
Government in
1972 dollars
(Ann. rate,
bii.dol.)
(Ann. rate,
bil.dol.)
266. State and
local government
in current dollars
267. State and
local government
in 1972 dollars
(Ann. rate,
bil.dol.)
(Ann. rate,
bil. dol.)
1976
First quarter
Second quarter
Third quarter . .
Fourth quarter
1.7
,
1977
First quarter . .
Second quarter
Third quarter
Fourth quarter
19.3
22.5
27.5
18.5
11.3
13.4
16.6
11.3
22.8
25.8
20.0
20.6
16.5
15.6
12.2
12.0
419.4
428.3
440.9
453.8
270.7
271.3
274.7
276.0
150.9
148.2
152.3
159.0
99.9
96.6
98.5
99.3
268.5
280.1
288.6
294.8
170.9
174.7
176.2
176.6
19.1
33.4
14.5
r6.7
12.3
18.1
460.1
466,6
477.8
r501.2
274.7
.272.4
273.1
r276,9
163.6
161.7
162.9
rl78,4
101.1
296.5
304.9
314.9
322.8
173.6
174.3
175.6
r!76,0
,
1978
First quarter
Second quarter
Third quarter .
Fourth quarter
1979
First quarter
Second quarter
Third quarter
Fourth quarter
7.1
r2.5
98.1
97.4
rlOO.9
NOTE: Series are seasonally adjusted except those series that appear to contain no seasonal movement. Unadjusted series are indicated by ©. Series numbers are for identification only and
do not reflect series relationships or order. Complete titles and sources are shown at the back of the book. The "r" indicates revised; "p", preliminary; "e", estimated; "a", anticipated; and
"N A", not available.
Graphs of these series are shown on pages41, 42, and 43.
FEBRUARY
1980
81
OTHER IMPORTANT ECONOMIC MEASURES
A I
NATIONAL INCOME AND PRODUCT—Con,
NATIONAL INCOME
AND ITS COMPONENTS
FOREIGN TRADE
Year
and
quarter
250. Current
dollars
(Ann. rate,
bit. dot.)
Imports of goods
and services
Exports of goods
and services
Net exports of
goods and services
256. Constant
(1972) dollars
252. Current
dollars
255. Constant
(1972) dollars
(Ann. rate,
bil.dol.)
(Ann. rate,
bil.dol.)
(Ann. rate,
bil.dol.)
220. National income in current
dollars
257. Constant
(1972) dollars
253. Current
dollars
(Ann. rate,
bil.dol.)
(Ann. rate,
bil.dol.)
(Ann. rate,
bil.dol.)
280. Compensation of
employees
(Ann. rate,
bil.dol.)
1976
First quarter ..
Second quarter
Third quarter..
Fourth quarter
11.8
10.0
7.0
3.2
17.5
16.2
16.1
13.3
155,9
160.9
166,9
169.6
93.8
95.4
97.6
97.7
144.2
150.9
159.9
166.4
76.3
79,2
81.5
84.4
1,323.1
1,344.9
1,369.6
1,401,6
1,001,4
1,025.9
1,048.0
1,075,9
11.1
10.9
13.2
5.8
170.5
178.6
180.1
174.2
96.5
99.4
97.3
179,8
184,7
186,4
192.3
85.4
88.5
87.3
91,4
1,456.9
1,505,3
1,551.1
1,589.8
1,110.1
1,141.5
1,170.7
1,205.5
5.3
12.3
13.3
12.9
184.4
205.7
213.8
224.9
100.7
109.2
111.9
113.8
206,6
213,3
220,6
229.4
95.4
96.9
98.5
101 .0
1,621.0
1,703.9
1,752.5
1,820.0
1,244.0
1,288.2
1,321,1
1,364,8
17.0
238.5
243.7
117.0
116.0
267.3
122.2
r!24.6
234.4
251.9
269.5
T292.3
100.0
102,9
102.1
r!04.8
1,869.0
1,897,9
1,941.9
1,411.2
1,439.7
1,472.8
rl,513.1
1977
First quarter ..
Second quarter
Third quarter..
Fourth quarter
-9.2
-6.0
-6.3
-18.1
100.5
1978
First quarter ..
Second quarter
Third quarter..
Fourth quarter
-22.2
-7.6
-6.8
-4.5
1979
First quarter ..
Second quarter
Third quarter..
Fourth quarter
4.0
-8.1
-2.3
r-10,5
13.2
20.1
r!9.8
r281.8
NATIONAL INCOME AND ITS COMPONENTS-Con.
Year
and
quarter
282. Proprietors'
income with inventory valuation
and capital consumption adjustments
{Ann. rate,
bit, dot.)
284. Rental income
of persons with
capital consumption adjustment
(Ann. rate,
bil.dol.}
286. Corporate
prof its with
inventory valuation
and capital consumption adjustments
(Ann. rate,
bil.dol.)
(NA)
SAVING
288. Net interest
(Ann. rate,
bil.dol.)
290. Gross saving
(private and government)
(Ann. rate,
bil.dol.)
2%. Business
saving
(Ann. rate,
bil.dol.)
292. Personal
saving
(Ann. rate,
bil. dol.)
1976
First quarter ..
Second quarter
Third quarter..
Fourth quarter
89.0
89.8
87.6
91.1
22.0
21.6
21.9
22.8
130.1
125.6
126.9
124.6
80.6
82.1
85.2
87.2
233,6
239.3
236.2
235.8
205.1
200.5
203.6
203.9
73.8
70.9
66.3
63.4
96.9
97.6
98.6
107.6
23,6
24.6
25.2
25.5
137,1
148.9
160.8
153.0
89.3
92.7
95.8
98.2
253,3
276.0
291.6
283.6
213.9
226.8
243.2
238.8
52.5
65.9
71.9
69.5
109.1
115.0
117.4
125.7
25.2
24.4
26.8
27.1
141.2
169.4
175.2
184.8
101.5
106.8
111.9
117.6
289.7
329.2
332.7
346.9
234.4
253.1
259.6
264.7
74.6
71 .2
70.9
71.5
129.0
129.3
27.3
26.8
26.6
27.0
178.9
176.6
122.6
125.6
362.2
180.8
(NA)
131.5
r!38.4
266,0
274.6
79.2
85.9
70.3
r57,5
1977
First quarter ,,
Second quarter
Third quarter..
Fourth quarter
1978
First quarter ..
Second quarter
Third quarter..
Fourth quarter
1979
First quarter ..
Second quarter
Third quarter..
Fourth quarter
130.3
T134.6
374.3
367.3
(NA)
281.9
(NA)
NOTE: Series are seasonally adjusted except those series that appear to contain no seasonal movement. Unadjusted series are indicated by ®. Series numbers are for identification only and
do not reflect series relationships or order. Complete titles and sources are shown at the back of the book. The "r" indicates revised; "p", preliminary; "e", estimated; "a", anticipated; and
"NA", not available.
Graphs of these series are shown on pages 44, 45, and 46.
82
FEBRUARY 1980
OTHER IMPORTANT ECONOMIC MEASURES
A
I
NATIONAL INCOME AND PRODUCT—Con.
B| SHARES OF GNP AND NATIONAL INCOME
Q SAVING-Con.
298. Government
surplus or deficit,
total
Year
and
quarter
(Ann. rate,
bit.dol.)
293. Personal
saving rate
(percent of disposable personal
income)
(Percent)
Percent of Gross National Product
235. Personal consumption expenditures, total
(Percent)
248. Nonresidential
fixed investment
(Percent)
249. Residential
fixed investment
247. Change in
business inventories
(Percent)
(Percent)
(Percent)
251. Net exports of
goods and services
1976
First Quarter
Second quarter
Third quarter
Foarth quarter
!
^
-45.3
-32.1
-33.7
-31.6
6.4
6.1
5.6
5.2
63.7
63.8
64.1
64,5
9.5
9.6
9,8
9,8
3.8
3.9
3.9
4.4
0.8
0.9
0,6
0,1
0.7
0,6
0.4
0.2
-13.1
-16.6
-23.5
-24.8
4.2
5.1
5.4
5.1
64.2
63.5
63.2
63.9
9.9
9.9
10.0
10,1
4.5
4.9
4.9
5.1
1.1
1.2
1.4
0.9
-0.5
-0.3
-0.3
-0.9
-19.2
5.0
2.3
5.3
5.0
4.8
4.7
64.0
63.3
63.4
63.3
10.1
10.4
10.5
10.6
5.0
5.1
5.1
5.1
1.1
1,2
0,9
0.9
-1.1
^0.4
-0.3
-0,2
5.0
5.4
4.3
63.4
63.3
63.8
10.6
10.7
10,9
4.9
4.8
4.8
4.7
0.8
1.4
0.6
0.3
-0.3
-0.1
1977
First quarter
Second quarter
Third quarter
Fourth quarter
;
5
1978
First quarter
Second quarter
Third quarter
Fourth quarter
....
1
'.' |
10.8
1979
15.8
12.7
14.0
(NA)
First quarter
Second quarter
Third quarter
Fourth quarter
r3,4
r64.3
no, 7
0.2
r-0.4
jQI SHARES OF GNP AND NATIONAL tNCOME-Con.
Percent of GNP-Con.
Year
and
quarter.
265. Federal Govt.
purchases of goods
and services
(Percent)
Percent of National Income
268. State and
local govt. purchases of goods
and services
(Percent)
64. Compensation of
employees
(Percent)
283. Proprietors'
income with IVA
and CCA1
(Percent)
285. Rental income 287. Corporate
of persons with
profits with IVA
1
CCA
and CCA 1
(Percent)
289. Net interest
(Percent)
(Percent)
1976
First quarter
Second quarter
Third quarter ...
.
Fourth quarter ....
7.7
7.6
7.6
7.7
13.8
13.7
13.6
13.4
75.7
76.3
76.5
76.8
6,7
6.7
6.4
6.5
1.7
1.6
1.6
1.6
9.8
9.3
9.3
8.9
6.1
6.1
6.2
6.2
7.6
7.6
7.5
7.7
13.3
13.3
13.2
13.3
76.2
75.8
75,5
75.8
6.7
6,5
6.4
6,8
1.6
1.6
1.6
1.6
9.4
9.9
6,1
6.2
6.2
6.2
7.5
7.0
7.1
7.1
13.3
13.3
13.4
13,2
76,7
75.6
75,4
75.0
6,7
6.7
6.7
6.9
1,6
1.4
1.5
1.5
7.1
6.9
6.8
12.9
13.1
13.1
13.1
75.5
75.9
75.6
6.9
6.8
6.7
1.5
1.4
1.4
1977
First quarter
Second quarter
Third quarter
Fourth quarter
!
10,4
9.6
1978
First quarter
Second quarter
Third quarter
Fourth quarter
i
i
8,7
9,9
10.0
10.2
6.3
6.3
6.4
6.5
1979
First quarter
Second quarter
Third quarter
Fourth quarter
r7.3
(NA)
(NA)
(NA)
9.6
9.3
9.3
(NA)
6.6
6.6
6.8
(NA)
NOTE: Series are seasonally adjusted except those series that appear to contain no seasonal movement Unadjusted series are indicated by ©. Series numbers are for identification only and
do not reflect series relationships or order. Complete titles and sources are shown at the back of the book. The "r" indicates revised; "p", preliminary; "e", estimated; "a", anticipated; and
"NA", not available.
Graphs of these series are shown on pages'46 and 47.
IVA means inventory valuation adjustment; CCA means capital consumption adjustment.
FEBRUARY 1980
83
OTHER IMPORTANT ECONOMIC MEASURES
B
PRICES, WAGES, AND PRODUCTIVITY
^J PRICE MOVEMENTS
Implicit price deflator,
gross national product
Year
and
month
310. Index
(1972=100)
31 Qc. Change
over 1-quarter
spans1
(Ann. rate,
percent)
Fixed weighted price index,
gross business product
311. Index
(1972-100)
31 1c. Change
over 1-quarter
spans1
Consumer prices, all items
320. Index © 320c. Change
over 1-month
spans1
Consumer prices, food
320c, Change
over 6-month
spans1
(Percent)
(Ann. rate,
percent)
Revised2
Revised2
187.2
188.4
189.8
0.6
0.6
0.8
191.5
193.3
195.3
322. Index
322c. Change
over 1-month
spans1
322c. Change
over 6-month
spans1
(Percent)
(Ann. rate,
percent)
Revised2
Revised 2
Revised 2
8.1
8.5
9.2
200.4
202.1
204.5
0.9
0.8
1.2
12.2
12.7
14.6
0.7
0.8
0.9
9.3
9.3
9.5
207.2
209.6
212.7
1.3
1.2
1.5
13.5
12.8
11.8
196.7
197.8
199.3
0.7
0.6
0.9
9.7
9.4
8.9
213.5
214.6
216.2
0.4
0.5
0.7
11.0
10.1
200.9
202.0
202.9
0.9
0.6
0.6
9.5
10.6
10.9
218.3
219.9
222.2
1.0
0.7
1.0
11.4
13.3
13.8
10.0
204.7
207.1
209.1
0.9
1.1
1.0
11.1
12.0
12.9
225.3
228.4
230.6
1.4
1.4
1.0
12.9
12.8
11.1
10,1
211.5
214.1
216.6
1.0
1.0
1.0
13.2
12.9
13.3
232.0
233.5
234.2
0.6
0.6
0.3
9.1
6.3
6.4
10.4
218.9
221.1
223.4
1.1
1,0
1.2
13.4
13.3
13.8
235.3
235.5
237.9
0.5
0.1
1.0
6.8
6.9
9.3
r8.9
225.4
227.5
229.9
1.0
1.0
1.2
14.5
239.8
241.4
244.8
0.8
0.7
1.4
8.2
233.2
1.4
244.8
0.0
(Ann. rate,
percent)
(1967=100)
(1967=100)
1978
6.6
6.3
January
February , .
March
147!6
April
May
June
15CL8
July
August .
September
153.*4
October
November
December
156.'7
14&\2
10.5
10.6
152.'6
8.8
7.2
155!2
8.7
8.7
158,'5
9.1
1979
January
February
March
160 .'2
April
May
June
163'.8
July
August
September
167*.2
9.3
162*.3
9.3
October
November
December
166.*3
8.5
170'.4
8.7
.
170*.7
rl74.'l
1980
January
February
March
April
May
June
July
August
September
October
November
December
..
.,
NOTE: Series are seasonally adjusted except those series that appear to contain noseasonal movement. Unadjusted seriesare indicated by ©.Series numbers are for identification only and
do not reflect series relationships or order. Complete titles and sources are shown at the back of the book. The "r" indicates revised; "p", preliminary; "e", estimated; "a", anticipated; and
"NA", not available.
Graphs of these series are shown on pages 48 and 49.
Percent changes are centered within the spans: 1-quarter changes are placed on the 1st month of the 2d quarter, 1-month
changes are placed on the 2d month, and 6-month changes are placed on the 4th month.
2
See "New Features and Changes for This Issue/' page iii.
84
FEBRUARY
1980
OTHER IMPORTANT ECONOMIC MEASURES
B |
PRICES, WAGES, AND PRODUCTIVITY—Con.
PRICE MOVEMENTS-Con.
Producer prices, all commodities
Year
and
month
330. Index©
330c. Change
over 1-month
spans1 ®
Producer prices, crude materials
Producer prices, industrial commodities
330c. Change
over 6-month
spans1 ® '
335. Index®
335c. Change
over 1 -month
spans1 ®
(1967=100)
(Percent)
Revised2
(Ann. rate,
percent)
Revised2
(1967=100)
(Percent)
Revised2
January
February
March
200.1
202.1
203.7
1.0
1.0
0.8
10,7
11.4
11.8
201,6
202.9
204.1
0.8
0.6
0.6
April
May
June
206.5
208.0
209.6
1.4
0.7
0.8
10,9
8.6
8.7
206.1
207.4
208.7
July
August
September
210.7
210.6
212.4
0.5
0.0
0.9
8.3
7.5
1.1
October
November
December
214.9
215.7
217.5
1.2
0.4
0.8
9.8
January
February
March
220.8
224.1
226.7
April
May
June
335c.-Change
over 6-month
spans1 ®
(Ann. rate,
percent)
Revised2
331. Index
331c. Change
over 1-month
spans1
33 1c. Change
over 6-month
spans1
(Ann. rate,
percent)
Revised2
(1967-100)
Revised2
(Percent)
Revised2
7,2
8.3
8.9
221,6
224.2
229.0
1.2
1.2
2.1
24.6
19,1
21.4
1.0
0.6
0.6
8.6
8.6
8.4
234.5
235.6
241.3
2.4
0.5
2.4
19.9
17.0
16.1
210.1
211.4
212.5
0.7
0.6
0.5
8,5
8.5
8.3
242.6
242.5
246.8
0,5
0.0
1.8
16.6
17.4
13.7
214.7
216.0
217.2
1.0
0.6
0,6
9.6
13.2
13.9
10.8
12.5
253.2
255.3
257.3
2.6
0.8
0.8
17.2
23.1
23.4
1.5
1.5
1.2
14.5
15.7
15.3
220.0
222.5
225.4
1.3
1.1
1.3
13.8
15.0
16.1
262.6
269.1
274.2
2.1
2.5
1.9
16.4
16.1
17.1
230.0
232.0
233.5
1.5
0.9
0.6
15.1
13.1
14.0
229.0
231.6
234.0
1.6
1.1
1.0
16.5
16.9
17.4
273.2
275.1
278.4
236.9
238.3
r242.0
1.5
0.6
1.6
13.7
13.3
14.1
237.5
240.6
r244.2
1.5
1.3
1.5
17.8
16.7
16.7
245.2
246.9
249.4
1.3
0.7
1.0
15.6
248.5
250.2
252.8
1.8
0.7
1.0
20.1
254.7
2.1
260.3
3.0
.
1978
1979
July
August
September ...
October
November
December
0.7
1,2
17.5
12.3
12.9
284.6
285.2
291.4
2.2
0.2
2.2
16.0
17.6
17.8
294.3
298.3
302.2
1.0
1.4
1.3
10.7
-0.4
1980
January
February
March
299.5
-0,9
April
May
June
July
August
September
October
November
December
NOTE; Series are seasonally adjusted except those series that appear to contain noseasonal movement. Unadjusted seriesare indicated by ®. Series numbers are for identification only and
do not reflect series relationships or order. Complete titles and sources are shown at the back of the book. The "r" indicates revised; "p", preliminary; "e", estimated; "a", anticipated; and
"NA", not available.
Graphs of these series are shown on page 48.
Percent changes are centered within the spans: 1-month changes are placed on the 2d month and 6-month changes are placed on
the 4th month.
2
See "New Features and Changes for This Issue," page iii.
ltd*
FEBRUARY
1980
85
OTHER IMPORTANT ECONOMIC MEASURES
B I
PRICES, WAGES, AND PRODUCTIVITY—Con.
^H PRICE MOVEMENTS-Con.
Producer prices, intermediate materials
Year
and
month
332. Index
332c. Change
over 1-month
spans1
Producer prices, finished consumer goods
Producer prices, capital equipment
332c. Change
over 6-month
spans1
333. Index
(1967=100)
(Percent)
(Ann. rate,
percent)
• (1967-100)
Revised 2
Revised 2
Revised 8
Revised 2
333c. Change
over 1-month
spans1
333c. Change
over 6-month
spans1
(Percent)
(Ann. rate,
percent)
Revised 2
Revised2
334c. Change
over 1-month
spans1
334. Index
(1967=100)
Revised 2
334c. Change
over 6-month
spans1
(Percent)
(Ann. rate,
percent)
Revised 2
Revised2
1978
January
February
March
208.2
209.7
210.9
0.8
0.7
0.6
7.6
7.5
7.9
192.2
193.3
194.5
0.6
0.6
0.6
7.7
7.6
8.1
184.5
186.1
187.2
0.6
0.9
0.6
April
May
June
211.9
213.1
214.5
0.5
0.6
0.7
6.7
6.9
7.1
195.6
197.0
198.6
0.6
0.7
0.8
8.4
8.4
8.4
189.5
190.8
192.2
1.2
0.7
0.7
10,2
July
August
September
215.1
216.8
218.3
0.3
0.8
0.7
8.6
9.3
9.3
200.1
201.3
202.5
0,8
0.6
0.6
7.7
8.4
8.0
193.7
194.3
195.7
0.8
0.8
0.7
8.6
8.3
9,5
October . .
November
December
220.8
222.8
224.3
1.1
0.9
0.7
11.3
11.8
12.6
203.0
205.1
206.4
0.2
1.0
0.6
8.6
9.1
9.2
197.5
198.6
201.1
0.9
0,6
1.3
10,6
12.5
13.4
January
February
March
226.9
229.2
231,6
1.2
1.0
1.0
13.3
13.4
14.2
208.5
210.3
211,6
1.0
0.9
0.6
11.1
9.9
9.9
203.7
206.1
208.4
1.3
1.2
1.1
12.7
12.7
11.1
April
May
June
235.0
237,3
239,7
1.5
1.0
1.0
15.3
16.2
17.2
214.0
215.0
216.4
1,1
0.5
0.7
9,5
7.4
7.6
209.7
210.8
212.0
0,6
0.5
0.6
11.2
12.2
13.7
July
August
September .
243.6
247.1
250.7
1.6
1.4
1.5
17.4
17.3
17.6
218.2
217.9
219.5
0.8
6.7
7.4
7.6
214.8
218.3
222.2
1.3
1.6
1.8
14.3
16.4
17.3
October
November
December
254.6
257.0
259.9
1,6
0.9
1.1
20.2
221.1
222.8
224.5
0,7
0.8
0.8
9.4
224,2
227, 4
229.6
0.9
1.4
1,0
17.9
267.1
2.8
228.2
1,6
233.2
1.6
9.3
9,2
9.8
9.0
9.3
1979
-0.1
0.7
1980
January
February
March
April
May
June
July
August
September
October
November
December
NOTE: Series are seasonally adjusted except those series that appear to contain noseasonal movement. Unadjusted seriesare indicated by @. Series numbers are for identification only and
do not reflect series relationships or order. Complete titles and sources are shown at the back of the book. The "r" indicates revised; "p", preliminary; "e", estimated; "a", anticipated; and
"NA", not available.
Graphs of these series are shown on page 48.
Percent changes are centered within the spans: 1-month changes are placed on the 2d month and 6-month changes are placed on
the 4th month.
2
See "New Features and Changes for This Issue," page iii.
FEBRUARY 1980
OTHER IMPORTANT ECONOMIC MEASURES
B I
PRICES, WAGES, AND PRODUCTIVITY—Con.
M WAGES AND PRODUCTIVITY
Average hourly compensation, all employees,
nonfarm business sector
Average hourly earnings, production workers, private nonfarm economy, adjusted1
Year
and
month
Current dollar earnings
340. Index
. (1967=100)
340c."Change
over 1-month
spans2
(Percent)
Real earnings
340c. Change
over 6-month
spans2
(Ann. rate,
percent) _
341. Index
341c. Change
over 1 -month
spans2
(1967=100)
(Percent)
Revised3
Revised3
1978
January
February
March
205.9
206.6
208.1
1.1
0.3
0.7
8.8
8.7
8.9
109.7
109.4
109.4
April
May
June
210.1
211.1
212.4
1.0
0,5
0.6
8.0
8.2
8.3
109.7
109.3
109.0
July
August
September
214.0
214.9
216.'5
0.8
0.4
0.7
7.7
7.9
8.2
109.1
108.9
108.9
218.1
219.2
220.9
0.7
0.5
0.8
8.2
8.7
8.2
108.6
108.5
108.6
-0.3
-0.1
222.6
224.0
225.2
0.8
0.6
0.5
8.2
7.7
7.4
108.4
107.8
107.3
226.8
227.5
229.0
0.7
0.3
0.7
7.5
7.5
8.3
July
August
September
230.9
232.2
234.3
0.8
0.6
0.9
7.3
r8.8
r9.2
October
November
December
234.9
r237.3
r239.3
0.3
p7.8
rl.O
p239.8
pO.2
....
October
November
December
0.5
-0.3
Current dollar compensation
341c. Change
over 6-month
spans2
(Ann. rate,
percent)
345. Index
(1967-100)
0.9
0.4
11.3
220J
-0.1
0.3
-1.1
-0.9
-1.0
224J
-1.9
-1.4
-0.9
228.8
-1.4
-2.0
-2.9
23X7
-0.2
-0.6
-0.5
-3.0
-4.1
-5.0
239*4
107.0
106.3
105.8
-0.3
-0.7
-0.5
-5.1
-5.0
-4.4
244 J
105.6
105.1
104.9
-0.2
-0.5
-0.2
-5.3
-4.0
-3.9
249.* 2
104.1
104.1
103.7
-0.8
p-5.8
-0.4
p!02.5
p-1.2
'
0.1
-0.2
0.0
0.1
345c. Change
over 4-quarter
spans2
(Ann. rate,
percent)
Revised3
0.0
-0.4
-0.3
345c. Change
over 1-quarter
spans2
(Ann. rate,
percent)
8*6
7.5
9*6
8.7
s!s
8.7
S\9
1979
January
February
March
April
May
June
.
...
0.8
0.0
10.3
8.9
10.7
r8.*9
8.6
r8.7
r254.*4
1980
January
February
March
April
May
June
July
August
September
October
November
December
NOTE: Series are seasonally adjusted except those series that appear to contain no seasonal movement. Unadjusted series are indicated by (g). Series numbers are for identification only and
do not reflect series relationships or order. Complete titles and sources are shown at the back of the book. The "r" indicates revised; "p", preliminary; "e", estimated; "a", anticipated; and
"NA", not available.
Graphs of these series are shown on pages 49 and 50.
l
Adjusted for overtime (in manufacturing only) and interindustry employment shifts.
2
Percent changes are centered within the spans: 1-month changes are placed on the 2d month, 6-month changes are placed on the
4th month, 1-quarter changes are placed on the 1st month of the 2d quarter, and 4-quarter changes are placed on the middle month
of the 3d quarter.
3
See "New Features and Changes for This Issue," page iii.
FEBRUARY
1980
87
OTHER IMPORTANT ECONOMIC MEASURES
PRICES, WAGES, AND PRODUCTIVITY-Con.
^9 WAGES AND PRODUCTIViTY-Con.
Average hourly compensation, all employees,
nonfarm business sector-Con.
Year
and
month
Real compensation
346. Index
(1967=100)
346c. Change
over 1-quarter
spans1
(Ann. rate,
percent)
346c. Change
over4-quarter
spans1
(Ann. rate,
percent)
Negotiated wage and benefit
decisions, all industries©
348. First year 349. Average
average changes changes over
life of
contract
(Ann. rate,
percent)
(Ann. rate,
percent)
Output per hour, all persons, private
business sector
370. Index
(1967=100)
370c. Change
over 1-quarter
spans1
(Ann. rate,
percent)
370c. Change
over4-quarter
spans1
358. Index of
output per hour,
all persons,
nonfarm
business sector
(Ann. rate,
percent)
(1967=100)
1978
January
February
March
n&\5
April
May
June
nsis
July
August
September
usis
October
November
December
115^6
3.2
6!s
13.2
119.'6
7.2
-i!e
11^7
6.1
CL2
ne!6
6!s
nels
6!i
ny',3
-6! 6
luie
-lie
neie
r-l'!s
neii
2.4
5.9
-CK9
-0.5
2.0
6.0
6!6
-0.1
-1.5
118^4
6.8
-2.4
8.2
5.2
0.3
119'.8
1979
January
February
March
iis'.s
April
May
June
ni!6
July
August
September
112!9
October
November
December
ni.'?
p2.5
-0.6
P5.2
-2.5
plO.6
-5,0
-3.0
-2. 2
p7.7
'\'\Q.2
-3A
-3.8
m.'g
p9.0
-1.3
p6.0
nsio
117.'8
-4.0
pB.l
r-0.6
p6.0
rll5.'l
rl!7!6
1980
January
February
March
April
May
June
July
August
September
October
November
December
NOTE: Series are seasonally adjusted except those series that appear to contain noseasonal movement. Unadjusted seriesare indicated by ©.Series numbers are for identification only and
do not reflect series relationships or order. Complete titles and sources are shown at the back of the book. The "r" indicates revised; "p", preliminary; "e", estimated; "a", anticipated; and
"NA", not available.
Graphs of these series are shown on pages 49 and 50.
l
Percent changes are centered within the spans: 1-quarter changes are placed on the 1st month of the 2d quarter and 4-quarter
changes are placed on the middle month of the 3d quarter.
FEBRUARY 1980
OTHER IMPORTANT ECONOMIC MEASURES
C I LABOR FORCE, EMPLOYMENT, AND UNEMPLOYMENT
Q| CIVILIAN LABOR FORCE AND MAJOR COMPONENTS
Civilian labor force
Year
and
month
441. Total
442. Em-
ployed
(Thous.)
(Thous.)
Labor force participat on rates
451. Males
20 years
and over
(Percent)
452. Females 453. Both
20 years
sexes, 16-19
and over
years of age
(Percent)
(Percent)
448. Num-
Number unemployed
37. Total
(Thous.)
444. Males
445. Females 446. Both
20 years and 20 years and sexes, 16-19
over
over
years of age
(Thous.)
(Thous.)
(Thous.)
447. Fulltime
workers
(Thous.}
ber employed
part-time
for economic
reasons
(Thous.)
1978
99,118
99,009
99,281
92,813
92,921
93,128
79.8
79.7
79.8
48.9
48.8
49.0
57.1
56.8
56,8
6,305
6,088
6,153
2,437
2,361
2,379
2,314
2,126
2,171
1,554
1,601
1,603
4,948
4,812
4,799
3,071
3,227
3,204
April
May
June
99,819
100,242
100,458
93,763
94,116
94,556
79.8
79.9
79.8
49.4
49.5
49.6
57.3
58.3
58.3
6,056
6,126
5,902
2,274
2,278
2,171
2,219
2,295
2,275
1,563
1,553
1,456
4,644
4,802
4,581
3,281
3,226
3,329
July
August
September
100,656
100,731
100,944
94,428
94,802
94,973
79.7
79.7
79.6
49.8
49.6
50.0
58.6
59.1
58.3
6,228
5,929
5,971
2,190
2,177
2,180
2,425
2,219
2,241
1,613
1,533
1,550
4,887
4,612
4,647
3,266
3,256
3,248
October
November
December
101,189
101,610
101,815
95 401
95,728
95,831
79.6
79.9
80.0
50.0
r5(U
50.1
58.6
58.5
5,788
5,882
5,984
2,139
2,110
2,198
2,107
2,215
2,212
1,542
1,557
1,574
4,475
4,491
4,609
3,231
r3,163
3,082
January
February
March
102,061
102,379
102,505
96,157
96,496
96,623
80.0
80.1
79.9
50.1
50.3
50.4
58,9
58.8
58.6
r5,904
5,883
5,882
2,167
2,138
2,164
2,195
2,202
2,212
1,542
1,543
1,506
4,514
4,565
4,539
3,203
3,176
3,211
April
June
102,198
102,398
102,476
96,254
96,495
96,652
79.8
79.7
79.7
50.2
50.4
50.3
58.2
57.9
57.7
5,944
5,903
5,824
2,190
2,130
2,169
2,199
2,208
2,196
1,555
1,565
1,459
4,637
4,533
4,515
3,279
3,283
3,284
July
August
September
103,093
103,128
103,494
97,184
97,004
97,504
79.9
79.8
79.9
50.8
51.0
50.9
57.9
56.3
58.2
5,909
6,124
5,990
2,254
2,286
2,282
2,160
2,304
2,164
1,495
1,534
1,544
4,617
4,727
4,715
3,274
3,298
3,167
October
November
December ....
103,595
103,652
103,999
97,474
97,608
97,912
79.7
79.5
79.5
50.9
50.9
51.1
57.9
58.1
58.6
6,121
6,044
6,087
2,317
2,335
2,303
2,250
2,197
2,257
1,554
1,512
1,527
4,796
4,770
4,791
3,315
3,392
3,519
104,229
97,804
79.4
51.4
58.2
6,425
2,577
2,304
1,545
5,046
3,513
January
February
March
r58.5
1979
May
1980
January
February
March
April
May
June
July
August
September
October
November ....
December
NOTE: Series are seasonally adjusted except those series that appear to contain noseasonal movement. Unadjusted series are indicated by @. Series numbers are for identification only and
do not reflect series relationships or order. Complete titles and sources are shown at the back of the book. The "r" indicates revised; "p", preliminary; "e", estimated; "a", anticipated; and
"NA", not available.
Graphs of these series are shown on page 51.
IICII
FEBRUARY
1980
OTHER IMPORTANT ECONOMIC MEASURES
GOVERNMENT ACTIVITIES
Q| RECEIPTS AND EXPENDITURES
State and local governments1
Federal Government'
Year
and
month
Q DEFENSE INDICATORS
Advance measures of defense activity
500. Surplus
or deficit
501. Receipts
502. Expenditures
510, Surplus
or deficit
511. Receipts
512. Expenditures
(Ann. rate,
bit, dol.)
(Ann. rate,
bil. dol.)
(Ann. rate,
bil. dol.)
(Ann. rate,
bil. dol.)
(Ann. rate,
bil. dot.)
(Ann. rate,
bil. dol.)
517. Defense
Department
gross obligations incurred
(Mil. dol.)
Revised2
525. Defense
Department
military prime
contract awards
(Mil. dol.)
Revised2
543. Defense
Department
gross unpaid
obligations
outstanding
548. Value of
manufacturers'
new orders,
defense products
(Mil. del)
(Mil. dol.)
2
t )
1978
January
February
March
-49!i
39?! 8
447. *3
3CL2
319^6
288 ! 8
10,537
10,659
10,155
4,853
4,741
4,909
57,304
58,401
58,986
2,798
2,520
4,394
April
May
June
-24!6
424^8
449^4
29.6
330 ."B
301 !6
10,242
10,793
10,094
4,970
6,204
7,081
59,348
60,723
60,549
3,792
3S933
3,259
July
August
September
-2CL4
442!l
462^6
22^7
331 !a
309 ll
10,327
10,278
10,256
3,928
4,924
4 :! 855
61,833
62,028
62,730
2,133
3,216
3,272
October
November
December
-isii
463.' 5
479^7
27J
342 '.6
315.'5
10,214
10,484
10,282
4,343
6,509
4,568
63,006
63,440
64,470
3,841
4,371
4,083
-1K7
475. '6
486.' 8
27*.6
343 '.9
31 6.' 3
10,787
10,250
11,741
5,706
4,773
5,763
65,120
48,267
67,128
2,781
3,858
3,101
-?!6
485,' 8
492 '.9
19*.7
345. '9
326 '.1
9,297
10,935
10,926
4,936
4,720
5,117
68 ,,883
68,468
68,976
3,213
3,618
2,497
July
August
September
-11! 3
504 '.8
sie!i
25'.3
359 '.8
334! 5
12,657
11,052
11,965
6,135
5,282
6,364
70,252
81,542
71,886
2,304
3.033
4,230
October .
November
December
(NA)
r539!2
(NA)
(NA)
r342'.6
11,679
10,730
4,318
(NA)
64,325
68,634
3,013
4,019
r3,776
1979
January
February
March
April
May
June . . . ,
(NA)
(NA)
(NA)
1980
p3,670
January
February
March . . .
April
May
June
July
August
September
October
November
December
NOTE: Series are seasonally adjusted except those series that appear to contain noseasonal movement. Unadjusted series are indicated by ®. Series numbers are for identification only and
do not reflect series relationships or order. Complete titles and sources are shown at the back of the book. The "r" indicates revised; "p"» preliminary; "e", estimated; "a", anticipated; and
"NA", not available.
Graphs of these series are shown on pages 52 and 53.
*Based on national income and product accounts.
a
See "New Features and Changes for This Issue,1* page iii.
90
FEBRUARY
1980
ItO
OTHER IMPORTANT ECONOMIC MEASURES
GOVERNMENT ACTIVITIES—Con.
Q| DEFENSE INDICATORS— Con.
National defense
purchases
Intermediate and final measures of defense activity
Year
and
month
557. Output of 559. Manufacdefense and
turers' invenspace equipment tories, defense
products
(1967-100}
(Mil. do),}
561. Manufacturers' unfilled
orders, defense
products
580. Defense
Department
net outlays
(Mil. dol.)
(Mil. dot.)
588. Manufac- 570. EmployDefense Department
turers' shipment in defense
personnel
ments, defense products
industries
products
577. Military, 578. Civilian,
active duty® direct hire
employment ©
(Mil. dol.)
Revised1
(Thous.)
(Thous.)
(Thous,}
564. Federal
purchases of
goods and
services
565. Federal
purchases as
a percent of
GNP
(Ann. rate,
bil. dol.)
(Percent)
1
C )
1978
January
February
March
82.6
80.8
83.9
6,451
6,622
6,634
34,633
34,511
36,108
8,493
8,271
8,375
2,595
2,642
2,796
1,120
1,125
1,138
2,065
2,062
2,058
982
982
982
97^6
4i9
April
6,734
6,840
6,823
37,150
38,382
38,914
9,056
8,217
9,072
2,750
2,701
2,728
1,142
1,160
1,170
2,054
2,046
2,057
982
988
1,000
98.*2
4^7
June
84.9
84.9
85.6
July
August
September
87.5
87.9
89.0
6,902
6,892
6 S 890
38,467
38,993
39,499
8,394
9,638
8,592
2,581
2,690
2,765
1,182
1,190
1,190
2,062
2,062
2,062
1,002
994
980
99.'6
i.'e
October
November
December
89.3
90.3
91.4
6,985
6,988
7,167
40,660
42,293
43,563
9,026
8,762
9,407
2,680
2,738
2,813
1,202
1,213
1 ,230
2,058
2,050
2,041
981
981
978
lOliz
4.*5
January
February
March
92.4
92.4
92.9
7,411
7,512
7,599
43,409
44,515
44,588
9,645
9,452
9,525
2,941
2,751
3,028
1,235
1,254
1,269
2,040
2,030
2,026
972
971
968
103.*4
4.*5
April
7,574
7,832
7,980
44,854
45,670
45,138
9,299
9,781
9,425
2,949
2,804
3,029
1,275
1,280
1,290
2,022
2,018
2,024
968
972
979
106.'6
4,*5
June
92.9
92.5
92.3
July
August
September
92.8
92.0
94.0
8,046
8,181
8,519
44,656
44,697
46,000
10,499
10,103
9,982
2,783
2,992
2,928
1,301
1,303
1,316
2,027
2,024
2,027
982
974
960
109^6
4^5
October
November
December
r94.0
r94.8
r95.0
8,826
9,236
r9,451
46,010
46,893
r47,492
9,982
plO,206
3,005
3,136
r3,179
1,327
rl,339
pi, 346
2,030
2,029
p2,020
964
967
p967
114.*6
4.'?
May
1979
May
....
(NA)
1980
January
February
March
p95.2
(NA)
p47,820
P 3,341
(NA)
(NA)
(NA)
....
April
May
June
July
August
September
October
November
December
NOTE: Series are seasonally adjusted except those series that appear to contain noseasonal movement. Unadjusted series are indicated by @. Series numbers are for identification only and
do not reflect series relationships or order. Complete titles and sources are shown at the back of the book. The "r" indicates revised; "p", preliminary; "e", estimated; "a", anticipated; and
"NA", not available,
Graphs of these series are shown on pages 54 and 55.
1
See "New Features and Changes for This Issue," page iii.
FEBRUARY
1980
91
OTHER IMPORTANT ECONOMIC MEASURES
U.S. INTERNATIONAL TRANSACTIONS
^H MERCHANDISE TRADE
Year
and
month
602. Exports, excluding
military aid shipments,
total
(Mil.dol.)
1978
604. Exports of agricultural products
606. Exports of nonelectrical machinery
(Mil.dol.)
{Mil.dol.)
''('*)
(M
612. General imports,
total
(Mil.dol.)
616. Imports of
automobiles and parts
(Mil.dol.)
(Mil.dol.}
Revised
(l)
XM
614. Imports of
petroleum and
petroleum products
1
D
January
February
March
r9,863
r9,938
rll.143
1,818
2,058
2,363
2,084
2,187
2,450
13,103
r14,221
r!4,005
3,000
3,626
3,094
1,529
1,661
1,581
April
May
June
r!1,628
rll,776
r 12, 264
2,428
2,861
2,904
2,415
2,472
2,427
r14,491
r14,012
13,970
3,162
3,038
3,229
1,715
1,659
1,684
July
August
September
rl 1,656
r!2,286
r!3,275
2,392
2,774
2,512
2,451
2,528
2,815
r!4,543
r14,130
r!4,821
3,194
3,257
3,307
1,812
1,666
1,822
October
November
December
12,901
r13,448
13,282
2,596
2,533
2,555
2,625
2,718
2,824
14,852
r!4,818
r!5,028
3,347
3,489
3,588
1,872
1,875
1,822
January
February
March
13,132
13,507
14,452
2,338
2,424
2,682
2,682
2,832
2,917
16,231
14,806
15,273
3,580
3,634
3,667
1,963
1,706
1,589
April
May
June
13,883
13,862
15 S 038
2,547
2,450
2,909
2,706
2,859
3,034
16,036
16,342
16,937
3,832
4,000
4,199
1,956
1,851
1,730
July
August .
September
15,669
15,821
15,832
3,103
3,141
3,059
3,022
3,241
3,153
16,777
18,177
18,666
4,692
4,949
5,662
1,815
2,113
1,849
October
November
December
16,838
17,004
16,792
3,254
3,415
3,434
3,251
3,172
3,240
18,856
18,422
19,870
6,050
5,351
6,502
1,805
1,984
1,871
(NA)
(NA)
(NA)
(NA)
(NA)
(NA)
.
1979
1980
January
February
March
April
May
June
.
....
July
August
September
October
November
December
NOTE: Series are seasonally adjusted except those series that appear to contain noseasonal movement. Unadjusted seriesare indicated by ©.Series numbers are for identification only and
do not reflect series relationships or order. Complete titles and sources are shown at the back of the book. The "r" indicates revised; "p", preliminary; "e"( estimated; "a", anticipated; and
"NA", not available.
Graphs of these series are shown on page 56.
^ee "New Features and Changes for This Issue," page iii,
92
FEBRUARY 1980
OTHER IMPORTANT ECONOMIC MEASURES
E
U.S. INTERNATIONAL TRANSACTIONS—Con.
R9 GOODS AND SERVICES MOVEMENTS (EXCLUDING TRANSFERS UNDER MILITARY GRANTS)
Merchandise, adjusted1
Goods and services
Year
and
month
667. Balance
668. Exports
(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. invest- 652. Foreign
ments abroad
investments in
the U.S.
(Mil.dol.)
(Mil. dot.)
1978
January
February .
March
-5,725
48,986
54,711
-11,91*7
30,?i2
42,629
9,776
4,537
-April
May
June
-2,139
54,354
56,493
-7,933
35,396
43,329
10,256
5,402
July
August
September
-1,931
56,263
58,194
-7,949
36,532
44,481
10,526
5,574
October
November
December
1,399
61,414
60,015
-5,97i
39,412
45,383
12,907
6,308
1,737
64,893
63,156
r-,6J47
r41,300
r47 ? 447
14,115
7,251
307
67,758
67,45i
r-7,747
r42,744
r50,491
15,404
7,939
p2,l*36
p74,408
p72,272
rp-7,314
rp54,602
.p!7,506
p8,712
. ,
1979
January
February
March
April
May
June
July
August
September
October
November
December
(NA)
(NA)
(NA)
p-7,918
rp47,288
p51,09i
p59,OC)9
(NA)
(NA)
1980
January
February
March
April
May
June
... .
.
...
July
August
September
October
November
December
NOTE: Series are seasonally adjusted except those series that appear to contain no seasonal movement. Unadjusted series are indicated by @. Series numbers are for identification only and
do not reflect series relationships or order. Complete titles and sources are shown at the back of the book. The "r" indicates revised; "p", preliminary; "e", estimated; "a", anticipated; and
"NA", not available.
Graphs of these series are shown on page 57.
1
Balance of payments basis; Excludes transfers under military grants and Department of Defense sales contracts (exports) and
Department of Defense purchases Ci
FEBRUARY 1980
93
OTHER IMPORTANT ECONOMIC MEASURES
F |
INTERNATIONAL COMPARISONS
^H INDUSTRIAL PRODUCTION
47. United States, 721.0ECD 1
European counindex of industrial production tries, index of
industrial
production
Year
and
month
(1967=100)
(1967=100)
728. Japan,
index of industrial production
(1967-100)
725. West
Germany, index
of industrial
production
(1967=100)
726. France,
index of industrial production
(1967-100)
722. United
Kingdom, index
of industrial
production
(1967-100)
727. Italy, index
of industrial
production
(1967=100)
723. Canada,
index of industrial production
(1967-100)
1978
January
February
March
140.0
140.3
142.1
153
152
150
196.9
197.0
199.5
157
152
152
152
152
155
123
124
123
143.8
146.1
145.9
152.8
155.3
155.8
April
144.4
144.8
146.1
153
152
153
200.5
201.5
201.8
153
152
154
161
157
152
128
126
128
143.5
143,8
145.3
157.5
155.3
158.4
September
147.1
148.0
148.6
153
152
154
201.8
204.1
206.0
157
156
159
155
155
157
128
128
128
144.4
143.7
146.2
158.1
158.2
164,4
October
November
December
149.7
150.6
151.8
157
157
158
206.9
207.6
210.1
159
159
159
157
159
161
125
126
129
154.3
154.7
151.9
163.5
164.4
165.3
January
February
March
151.5
152.0
153,0
rl-56
157
158
210.2
213.1
212.6
159
157
161
158
158
161
120
131
133
152.7
159.9
155.8
165.9
165,5
166.6
April
May
June
150.8
152.4
152.6
r158
214.2
218.5
218.8
161
160
164
158
162
161
132
134
138
r!56.5
H51.8
144.9
164.1
165.0
163.5
July
August
September
152.8
151.6
152.4
220.8
223.0
220.0
170
163
164
r!66
136
129
128
149.7
149.6
159.1
166.8
166.6
H69.8
October
November
December
152.2
H52.1
r!52.3
r!61
p163
(NA)
r!30
p!31
(NA)
165.1
P165.4
(NA)
r!68.4
H68.0
P166.1
May
Juno
July
AllQUSt
1979
158
160
161
r!57
r!61
p!63
(NA)
225.5
r228.1
p227.4
r!66
r!67
(NA)
r!68
H68
1980
January
February
March
April
May
June
p!52.7
.
(NA)
(NA)
.
July
August
September
October
November
December
NOTE: Series are seasonally adjusted except those series that appear to contain noseasonal movement. Unadjusted series are indicated by ©.Series numbers are for identification only and
do not reflect series relationships or order. Complete titles and sources are shown at the back of the book. The "r" indicates revised; "p", preliminary; "e", estimated; V, anticipated; and
"NA", not available,
Graphs of these series are shown on page 58.
Organization for Economic Cooperation and Development.
94
FEBRUARY 1980
OTHER IMPORTANT ECONOMIC MEASURES
F I
INTERNATIONAL COMPARISONS—Con.
Q CONSUMER PRICES
Year
and
month
United States
Japan
West Germany
France
United Kingdom
320. Index® 320c. Change
over 6-month
spans1
738. Index® 738c. Change
over 6-month
spans1
735. Index® 735c. Change
over 6-month
spans1
736. Index® 736c. Change
over 6-month
spans1
732. Index® 732c. Change
over 6-month
spans1
(1967=100)
(Ann. rate,
percent)
(1967=100)
(Ann. rate,
percent)
(1967=100)
(Ann. rate,
percent)
(1967=100)
(Ann. rate,
percent)
(1967=100)
{Ann. rate,
percent)
8.4
9.3
9.9
304.4
306.2
308.1
6.3
5.5
5.6
7.5
9.7
9.2
Revised2
1978
January
February
March
187.2
188,4
189,8
8.1
8.5
9,2
246.1
247,1
249.4
1.4
3,5
4.6
158.9
159.7
160.3
2.5
2.9
2.8
222.8
224.4
226.4
April
May
June
191.5
193.3
195.3
9.3
9,3
9.5
252.1
253.5
252.1
7.0
7.7
4.9
160.7
161 .1
161.5
2.9
2.7
1.5
228.9
231.1
232.8
11.7
11.2
10.1
312.6
314.4
316.8
July
August
September
196.7
197.8
199.3
9.7
9.4
8.9
253.1
253.3
256.4
5.0
2.9
2.5
161.5
161.0
160.6
1.6
1.8
2,4
235.7
237.1
238.6
10.2
318.2
320.3
321.6
10.1
11.0
10.7
October
November
December
200.9
202.0
202.9
9.5
256.8
254.1
253.7
0.1
-2.1
0.0
160.6
161.1
161.8
3.1
3.4
5.0
240.8
242.1
243.2
10.4
323.1
325.3
328.0
11.2
10.6
10.9
January
February
March
204.7
207.1
209.1
11.1
12.0
12.9
253.9
253.1
255.1
0.5
2.8
4.5
163.5
164.5
165.5
5.4
5.6
5.2
245.5
247.1
249.4
10,4
10.9
332.9
335.6
338.3
10.6
10.1
12.7
April
May
June
211.5
214.1
216.6
13.2
12.9
13.3
258.6
261.3
261.5
8.3
7.9
6.1
166.4
167.0
167.8
6.0
6.2
5.6
251.8
254.5
256.6
11.9
12.6
11.7
344.1
346.8
352.8
21.0
22.4
22.6
July
August
September
218.9
221.1
223.4
13.4
13.3
13.8
263.8
261.1
264.4
8.0
7.3
7.0
168,8
169.0
169.1
6.1
6.4
6.3
260.0
262.7
264.9
12.7
12.4
12.8
368.0
370.9
374.6
24.2
24.8
21.7
October
November
December
225.4
227.5
229.9
14.5
267.7
266.7
268.3
268.1
269.8
272.0
(NA)
378.5
381.8
384.6
15.8
.
...
9.8
9.6
8.7
9.1
9.3
10.3
1979
(NA)
169.7
170.4
171.1
(NA)
9.8
1980
January
February
March
233.2
(NA)
(NA)
(NA)
394.1.
April
May
June
July
August
September
October
November
December
NOTE: Series are seasonally adjusted except those series that appear to contain noseasonal movement. Unadjusted series are indicated by ®. Series numbers are for identification only and
do not reflect series relationships or order. Complete titles and sources are shown at the back of the book. The "r" indicates revised; "p", preliminary; "e", estimated; "a", anticipated; and
"NA", not available.
Graphs of these series are shown on page 59.
Changes over 6-month spans are centered on the 4th month.
2
See "New Features and Changes for This Issue," page iii.
BUI
FEBRUARY
1980
95
OTHER IMPORTANT ECONOMIC MEASURES
INTERNATIONAL COMPARISONS—Con.
EM STOCK PRICES
Qj CONSUMER PRICES-Con.
748. Japan,
index of
stock
prices®
745. West
Germany,
index of
stock
prices®
746. France,
index of
stock
prices®
742. United
Kingdom,
index of
stock
prices®
747. Italy,
index of
stock
prices®
743. Canada,
index of
stock
prices®
(1967=100)
(1967=100)
(1967=100)
(1967=100)
(1967=100)
(1967=100)
98.2
96.8
96.6
339.0
348.3
359,7
126.5
127.9
126.1
100.3
120.0
198.2
187.7
187.5
40.7
43.5
42,8
105.3
19. United
States, index
of stock
737. Index® 737c. Change 733. Index® 733c. Change prices, 500
over 6-month
over 6-month common
stocks®
spans1
spans1
Canada
Italy
Year
and
month
(1967=100}
(Ann. rate,
percent)
(1967=100)
(Ann, rate,
percent)
(1967=100)
1978
January
February
March
271.1
273.9
277.4
10,3
10.9
11.5
194.0
195.3
197.5
April
May
June . . .
280.0
282.7
285.1
12.1
12.6
12.0
197.9
200.7
202.4
11.0
9.6
7.3
100.8
106.0
106.2
371.8
371.0
373.2
124.9
124.0
127.1
130.6
133.3
135.7
191.9
202.9
201.2
41.4
43.2
44.0
106.9
109.4
109.1
July
August
September
286.8
288.3
292.9
12.7
11.8
11.5
205.4
205.5
205.2
8.6
8.2
7.7
105.7
113.0
113.0
382.8
380.3
387.6
129.1
132.3
136.4
149.8
150.6
165.1
204.4
220.3
223.3
44.8
48.4
57.3
116.7
120.8
129.5
October
November
December
295,5
298.6
300.1
12,7
13.8
14.1
207.3
209.0
209.6
6.8
8.7
109.4
103.3
104.5
395.0
398.9
404.9
138.7
134.8
133.9
158.7
155.4
158.7
217.4
208.1
213.3
57.5
51.6
51.2
122.3
129.1
131.7
January
February
March
305.1
309.7
313.8
14.5
15.6
15.6
211.2
213.2
215.7
9.9
108.5
106.9
108.9
416.1
409.9
405.7
135.0
131.9
131.2
160.9
149.9
155.4
211.1
212.2
240.8
52.4
54.8
57.9
138.4
141.1
150.7
April
May
June
317.8
321.3
323.9
14.9
15.5
217.2
219.3
220.3
9,5
8.5
8.5
111.0
108.5
110.7
402.9
411.1
402.3
130.6
127.8
121.7
164.5
162.0
171.7
255.7
255.0
241.0
54.1
56.8
58.0
149.5
154.8
168.9
222.1
222.9
224.9
7.9
8.8
9.5
111.7
116.8
118.1
400.6
408.0
412.5
122.0
124.3
125.7
173.7
188.6
207.4
232.8
233.9
236.3
58.8
61.7
63.0
159.4
178.6
191,7
226.5
228.7
230.1
9.6
113.6
112.8
117.2
408.2
403.4
410.8
123.5
118.3
118.8
187,5
189.1
p!90.6
238.9
215.6
217.1
62.6
58.6
55.4
175.2
189,3
199.5
120.6
p!27.1
420.1
p428.1
117.2
p!23.2
rp!67.4
p!80.9
224.3
p237.8
8.5-
9.3
9.6
10.9
98.0
99.1
98.7
1979
r!7.8
July
August
September
326.7
330.6
r339.2
r!9.2
October
November
December
r345.5
r350.0
355.6
26.2
H9.2
21.0
10.9
10.1
1980
January
February
March
367.3
231.3
rp61.0
p63.5
rp221.2
p239.8
April
May
June
July
August
September
... .
October
November
December
NOTE: Series are seasonally adjusted except those series that appear to contain noseasonal movement. Unadjusted seriesare indicated by @. Series numbers are for identification only and
do not reflect series relationships or order. Complete titles and sources are shown at the back of the book. The "r" indicates revised; "p"( preliminary; "e", estimated; "a", anticipated; and
"NA", not available.
Graphs of these series are shown on page 59.
Changes over 6-month spans are centered on the 4th month.
96
FEBRUARY
1980
APPENDIXES
B, Current Adjustment Factors
benes
July
5. Average weekly initial claims. State
unemployment insurance
109 6
13. New business incorporations1
100.6
15. Profits (after taxes) per dollar of sales,
manufacturing2
33. Net change in mortgage debt
1 3
525.
543.
570.
Aug.
86.0
104.4
Sept.
Oct.
789
Nov.
Dec.
Jan.
Feb.
150.1
114.8
90.4
93.2
105.6
75.9
87.7
100.8
131.3
90.2
103.1
90.5
94.5
105.8
152
-127
-196
Mar.
Apr.
May
June
85.7
80.3
87.1
104.8
103.5
104.2
109.2
94.5
98.3
98.1
21
72. Commercial and industrial loans
outstanding
517.
19(BO
19 79
Ca w»4 <-io
474
-1913
-1989
-317
189
1033
1847
100.4
99 8
99.1
99 1
99.8
100.7
101.3
100.1
99.1
100.0
100.2
100.3
Defense Department gross obligations
incurred1
86.1
84.8
122.2
140.7
113.3
91.4
108.7
91.2
89.3
99.6
87.4
91.9
Defense Department military prime
contract awards
76.5
74.3
172.4
150.4
105.6
102.1
90.3
69.9
111.5
82.9
87.8
78.2
Defense Department gross unpaid
obligations outstanding 1
95.0
92.1
95.5
101.0
104.1
104.0
104.5
106,3
100.9
101.4
99.7
97.6
Employment in defense products industries .
99.9
99.7
100.1
99.9
100.0
100.0
100.2
100.1
99.8
99.9
100.4
100.3
102.0
100.0
101.9
100.9
. . .
1
580
Defense Department net outlays
604
Exports of agricultural products. .
606
Exports of nonelectrical machinery.
614
1
Imports of petroleum and products .
616. Imports of automobiles and parts
1
96.6
102.9
97 8
106.8
93.7
102.0
103.5
92.5
...
87 5
87.1
89.4
107.8
110.8
107.2
95.3
95.3
110.7
105.6
103.9
. . .
95.4
91.2
93.2
100.8
99.1
104.4
93.7
95.5
114.4
104.4
106.9
103.2
101.4
102.9
93.4
107.7
93.0
97.8
112.5
90.6
98.8
79.1
84.7
97.4
100.3
105.8
98.7
107.0
101.3
108.2
. . 101 4
P2.2
96.9
100.5
118.8
99.8
103.2
NOTE: These series are seasonally adjusted by the Bureau of Economic Analysis or the National Bureau of Economic Research, Inc.,
rather than by the source agency. Seasonal adjustments are kept current by the Bureau of Economic Analysis. Seasonally adjusted
data prepared by the source agency will be used in BUSINESS CONDITIONS DIGEST whenever they are available. For a description of the
method used to compute these factors, see Bureau of the Census Technical Paper No. 15, THE X-II VARIANT OF THE CENSUS METHOD II SEASONAL ADJUSTMENT PROGRAM.
factors are the products of seasonal and trading-day factors.
Quarterly
series; factors are placed in the middle month of the quarter.
3
These quantities, in millions of dollars, are subtracted from the month-to-month net change in the unadjusted monthly totals to
yield the seasonally adjusted net change. These factors are computed by the additive version of the X-ll variant of the Census Method II seasonal adjustment program.
97
C. Historical Data for Selected Series
Quarterly
Monthly
Year
Jan.
Feb.
Apr.
Mar.
June
May
July
Aug.
Sept.
Oct.
Nov.
Dec.
IQ
II Q
IIIQ
Annual
IV Q
1. AVERAGE WORKWEEK OF PRODUCTION WORKERS, MANUFACTURING
(HOURS),
AVERAGE FOR PERIOD
'
1947...
1948...
1949...
1950...
1951...
1952...
1953...
1954...
1955...
1956...
1957...
1958...
1959...
1960...
1961...
1962...
40.5
40.4
39.4
39.6
40.3
40.7
41.0
39.5
40.3
40.8
40.3
38.8
40.1
40.5
39.2
40.0
40.5
40.2
39.4
39.7
40.8
40.7
41.0
39.7
40.5
40.6
40.4
38.6
40.2
40.1
39.3
40.3
40.4
40.4
39.1
39.7
41.0
40.6
41.1
39.5
40.7
40.4
40.2
38.7
40.4
39.9
39.4
40.5
40.5
40.4
38.8
40.1
41.2
40.1
41.1
39.4
40.6
40.6
40.1
38.6
40.5
39.7
39.6
40.7
40.5
40.2
38.9
40.2
40.9
40.4
40.9
39.5
40.9
40.2
39.8
38.8
40.6
40.0
39.6
40.5
40.4
40.2
38.9
40.5
40.7
40.5
40.7
39.6
40.6
40.1
39.9
39.0
40.5
39.8
39.9
40.4
40.2
40.1
39.1
40,8
40.5
40.1
40.6
39.6
40.6
40.2
39.9
39.2
40.2
39.8
40.0
40.4
39.8
40.0
39.0
41.1
40.2
40.5
40.4
39.7
40.6
40.2
39.8
39.4
40.3
39.7
40.1
40.3
40.3
39.6
39.4
40.8
40.4
41.0
39.8
39.5
40.7
40.4
39.7
39.6
40.1
39.4
2*.5
40.5
40.3
39.7
39.4
40.9
40.2
41.1
40.0
39.6
40.9
40.5
39.3
39.5
40.1
39.6
40.2
40.2
40.4
39,7
39.0
40.9
40.3
41.0
39.8
40.1
41.0
40.4
39.2
39.8
39.8
39.2
40.5
40.3
40.7
39.5
39.3
40.8
40.6
41.1
39.6
40.0
40.8
40.5
39.0
39.8
40.2
38,4
40.3
40.2
40.5
40.3
39.3
39.7
40.9
40.7
41.0
39.6
40.5
40.6
40.3
38.7
40.2
40.2
39.3
40.3
40.5
40.3
38.9
40.3
40.9
40.3
40.9
39.5
40.7
40.3
39.9
38.8
40.5
39.8
39.7
40.5
40.1
39.9
39.2
40.9
40.4
40.5
40.3
39.6
40.6
40.3
39.8
39.4
40.2
39.6
39.9
40.4
40.5
39.6
39.2
40.9
40.4
41.1
39.8
39.9
40.9
40.5
39.2
39.7
40.0
39.1
4(3.3
40.2
40.4
40.0
39.1
40.5
40.6
40.7
40.5
39.6
40.7
40.4
39.8
39.2
40.3
39.7
39.8
40.4
1963...
1964...
1965...
1966...
1967...
1968...
1969...
1970...
1971...
1972...
1973...
1974...
1975..,
1976...
1977..,
1978...
1979...
40.4
40.1
41.2
41.4
41.0
40.3
40.7
40.4
39.9
40.2
40.4
40.5
39.2
40.5
39.6
39.6
40.3
40.6
41.2
41.6
40.4
40.9
40.4
40.2
39.7
40.4
40.9
40.4
38.9
40.4
40.3
40.0
40.4
40.6
41.4
41. S
40.4
40.7
40.8
40.1
39.8
40.4
40.8
40.4
38.8
40.2
40.3
40.5
40.2
40.8
41.0
41.5
40.5
40.0
40.7
39.9
39,7
40.7
40.9
39.3
39.0
39.4
40.3
40.7
40.5
40.7
41.2
41.4
40.4
40.9
40.7
39.8
39.9
40.5
40.7
40.3
39.0
40.3
40.4
40.4
40.6
40.7
41.1
41.4
40.4
40.9
40.7
39.9
40.0
40.6
40.6
40.2
39.2
40.2
40.5
40.5
40.5
40,8
41.1
41.2
40.5
40.8
40.6
40.0
39.9
40.5
40.7
40.2
39.4
40.3
40.3
40.5
40.4
40.9
41.0
41.4
40.6
40.7
40.6
39.8
39.8
40.6
40.5
40.2
39.8
40.1
40.4
40.4
40.6
40.5
40.8
41.3
40.7
40.9
40.7
39.3
39.4
40.6
40.7
40.0
39.9
39.8
40.4
40.5
40.6
40.6
41.2
41.3
40.6
40.9
40.6
39.5
39.9
40.7
40.6
40.0
39.8
40.0
40.5
40.5
40.5
40.8
41.3
41.2
40.6
40.8
40.4
39.5
40.0
40.8
40.7
39.5
39.9
40.1
40.5
40.6
40.6
41.1
41.4
40.9
40.7
40.7
40.5
39.5
40.2
40.5
40.6
39.3
40.2
40.0
40.4
40.6
40.4
40.4
41.3
41.5
40.6
40.6
40.6
40.2
39.8
40.3
40,7
40.4
39.0
40.4
40.1
40.0
40.4
40.7
41.1
41.4
40.4
40.6
40.7
39.9
39.9
40.6
40.7
39.9
39.1
40.0
40.4
40.5
40.5
40,7
41.0
41.3
40.6
40.8
40.6
39.7
39.7
40.6
40.6
40.1
39.7
40.1
40.4
40.5
4(3.6
413.8
41.3
41.1
40.6
40.8
40.5
39.5
40.0
40.7
40.6
40.5
40.7
41.2
41.4
40.6
40.7
40.6
39.8
39.9
40.5
40.7
40.0
39.5
40.1
40.3
40.4
2.
ACCESSION RATE, MANUFACTURING
(PER 100 EMPLOYEES)
3<>.6
40.0
40.0
40.5
40.6
AVERAGE FOR PERIOD
n
1947...
1948...
1949...
1950...
1951...
1952...
1953...
1954...
1955...
1956...
1957...
1958...
1959...
1960...
1961...
1962...
7.0
5.6
3.9
4.4
6.4
5.4
5.7
3.5
4.1
4,2
4.1
3.1
4.2
4.4
3.7
4.3
6.9
6.5
4.0
4.4
6.2
5.2
5.8
3.3
4.3
4.2
3.9
3.0
4.4
4.0
3.7
4.3
1963...
1964...
1965...
1966...
1967...
1968...
1969...
1970...
1971...
1972...
1973...
1974...
1975...
1976...
1977...
1978...
1979...
3.6
3.8
4.1
4.9
3.9
3.9
4.2
5.0
4.4
4.9
4.4
3.8
4.4
4.8
4.4
3.7
5.0
4.7
3.0
4.2
4.0
4.1
5.2
4.6
3.1
4.1
4.4
3.9
5.1
4.5
3.2
4.2
4.1
4.0
5.2
3.9
4.8
€.0
5.0
5.7
3.5
4.6
4.1
3.8
3.1
4.6
3.7
4.3
4.2
5.5
4.0
4.8
5.8
4.8
5.6
3.2
4.7
4.3
3.6
3.2
4.4
3.7
4.2
4.1
3.9
1963...
1964...
1965...
1966...
1967...
1968...
1969...
1970...
1971...
1972...
1973...
1974...
1975...
1976...
1977...
1978...
1979...
5.8
3.9
5.7
4.4
5.9
5.3
4.3
5.2
5.2
3.4
3.5
6.2
5.2
5.7
5.5
4.9
5.3
4.8
5.7
4.5
5.8
<1.8
4.6
S.4
!i.l
S.7
31.5
4.5
4.6
3.3
3.9
3.8
3.5
4.2
3.8
4.5
4.2
3.1
3.9
4.1
3.6
4.2
3.8
4.5
4.2
2.8
4,0
5,4
3.6
4.2
3.8
4.3
4.2
3.9
3.1
4.4
4.0
3.9
4.3
4.5
4.2
3.7
3.5
4.3
3.7
4.2
4.1
4.4
4.0
3.4
4,0
4.0
3.7
4.0
4.1
4.5
4.3
3.1
3.9
4.4
3.6
4.2
3.8
3.9
3.9
3.7
3.8
3.9
3.9
3.9
4.0
5.0
5.0
4.9
4.7
4.7
5.1
5.0
3.9
4.0
4.3
5.0
3.8
4.0
4,7
4.8
3.8
4.0
4.0
3.8
3.9
4.5
3.7
4.0
4.6
3.8
4.2
4.9
4.3
3.7
4.9
4.1
3.8
4.6
4.0
3.9
4.6
3.8
4.0
4.3
4.1
3.9
4.0
4.0
4.1
4.0
3.8
3.9
4.0
4.0
3.9
3.8
3.9
3.8
3.8
3.3
3.8
3.1
3.8
4.6
3.1
4.8
4.5
3.7
4.7
4.1
4.0
4.0
4.1
4.3
4.2
4.0
4.0
3.9
4.0
4.8
3.4
3.8
3.8
4.1
4.4
1.0
1.3
1.1
1.5
1.1
1.8
1.0
1.6
2.9
1.8
6.2
5.6
5.2
5.1
5.1
4.8
5.3
5.5
4.9
5.2
5.2
5.1
5.0
5.0
5.6
5.0
5.2
4.8
6.6
4.7
6.0
4.6
5.8
4.8
4.6
4.1 ,
3.7
4.5
4.1
3.6
3.6
4.3
3.7
4,2
4.2
4.3
4.1
3.8
3.8
4.1
3.8
4.1
4.1
4.2
3.9
3.8
3.9
4.0
3.6
4.1
4.2
4.5
3.9
3.3
4.1
4.1
3.8
4.1
4.0
4.5
4.3
3.2
3.9
4.0
3.8
3.8
4.0
3.9
3.8
3.9
3.9
3.8
5.3
5.1
5.0
4.9
4.9
4.6
4.9
4.0
3.7
4.9
4.0
3.8
4.7
5.0
3.8
3.8
4.6
3.7
4.0
3.9
4.1
4.5
3.6
4.0
4.0
4.0
4.3
3.8
3.8
4.0
4.0
3.
1947...
1948...
1949...
1950...
1951...
1952...
1953...
1954...
1955...
1956...
1957...
1958...
1959...
1960...
1961,..
1962...
4,5
5.4
5.3
LAYOFF RATE, MANUFACTURING
(PER 100 EMPLOYEES)
1.0
2.0
2.7
2.1
1.0
1.5
1.0
2.7
1.4
2.2
1.7
1.1
1.4
3.1
1.6
1.0
1.4
1.0
2.8
1.5
1.8
1.5
1.1
1.4
3.2
1.4
.5
.2
.4
.2
1.3
1.3
1.3
1.4
1.0
1.7
1.1
0.8
0.8
1.0
1.0
1.2
1.0
2.4
2.1
1.3
1.6
1.1
2.7
.3
1.2
2.4
1.5
1.2
2.3
3.0
1.4
2.1
1.3
1.7
2.2
0.9
1.9
2.1
0.8
2.2
1.9
0.8
2.5
1.8
1.0
2.6
1.8
1.5
1.0
2.8
1.3
1.3
3.2
1.2
1.2
1.5
1.2
2.5
1.6
1.7
2.2
2.0
1.8
1.7
1.7
1.8
1.9
1.6
3.3
1.9
1.8
2.9
2.4
2.5
1.8
2.3
2,1
1.8
2.3
2.3
2.0
2.5
2.2
2.0
1.8
2.4
2.3
2.0
1.6
2.7
2.0
2.9
2.6
1.8
2.1
1.5
2.8
2.0
1.9
3.0
2.0
1.8
2.3
2.2
2.1
2.4
2.2
2.0
1.6
2.9
1.9
1.8
1.5
2.7
1.9
1.5
2.1
2.3
2.0
2.6
1.9
2.2
2.6
1.9
1.9
2.8
1.9
1.9
1.9
2.7
1.9
2.0
1.7
1.8
1.9
1.9
1.8
1.9
1.6
1.8
1.8
1.7
1.9
1.9
1.4
1.4
1.5
1.3
1.6
1.2
1.5
1.2
1.4
1.2
1.3
1.4
1.3
1.3
1.3
1.2
1.1
.2
.1
l.S
1.7
1.2
0.9
1.4
2.9
1.2
1.3
0.9
1.7
1.5
1.2
0.8
1.3
3.0
1.0
1.5
1.0
1.8
1.5
1.1
0.9
1.2
2.7
1.2
1.1
1.0
1.5
1.2
0.8
1.1
2.6
1.3
1.1
1.0
1.6
1.2
0.9
1.1
2.5
1.3
1.1
1.0
1.5
1.4
0.9
1.1
2.2
1.3
1.1
1.0
1.5
1.4
1.2
1.1
1.7
1.4
1.3
0.8
2.0
1.1
1.0
1.4
1.6
1.3
1.2
1.0
1.9
1.7
1.0
0.9
1.3
1.7
1.4
1.1
0.8
2.2
1.5
1.0
0.8
1.8
1.5
1.4
1.1
0.9
2.0
1.4
0.9
1.0
2.5
1.5
1.3
1.0
0.9
1.3
0.9
1.1
2.5
1.3
1.2
1.0
0.9
3.9
4.0
4.3
5.0
4.4
4.6
4.7
4.0
3.9
4.5
4.8
4.2
3.7
3.9
4.0
4.1
AVERAGE FOR PERIOD
1.0
1.4
3.0
1.8
1.1
l.S
0.9
2.9
1.5
1.6
1.5
NOTE: These series contain revisions beginning with 1974.
6.2
5.4
4.3
5.3
5.3
5.4
4.8
3.6
4.5
4.2
3.6
3.6
4.2
3.8
4.1
4.1
2.4
2.2
1.9
1.1
1.5
2.7
0.9
1.8
1.7
1.7
2.1
1.6
1.7
2.1
2.3
2.0
2.5
2.1
2.1
1.1
1.9
2.6
1.2
1.6
0.9
2.4
1.8
1.4
1.6
2.8
2.0
2.4
2.7
1.9
2.0
1.1
1.6
2.9
1.3
1.4
1.4
1.6
2.3
1.5
1.7
2.1
2.6
2.0
2.4
2.2
2.0
1.8
1.6
1.8
1.6
1.5
1.3
1.4
1.2
1.3
1.3
1.8
1.6
1.4
1.2
1.2
1.1
1.6
1.2
0.9
1.3
2.9
1.1
1.3
1.0
1.5
1.3
0.9
1.1
2.4
1.3
1.1
1.0
1.7
1.2
1.0
1.3
1.7
1.4
1.2
0.9
2.0
1.4
0,9
1,0
2,3
1,4
1.3
1..0
0,9
1.8
1.7
1.4
1.2
1.4
1.2
1.2
1.8
1.6
1.1
0.9
1.5
2.1
1.3
1.1
0.9
(FEBRUARY 1980)
C. Historical Data for Selected Series—Continued
Monthly
Quarterly
Year
Feb.
Jan.
Mar.
Apr.
June
May
July
4. QUIT RATE, MANUFACTURING
( P E R 100 EMPLOYEES)
1947...
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...
4.7
3.7
4.6
3.6
4.5
3.7
4.5
3.6
1.6
3.2
2.8
3.1
1.5
3.3
2.8
3.2
1.6
3.4
2.8
3.5
1.6
3.4
2.7
3.3
1.6
2.1
1.9
1.1
1.4
1.5
1.6
2.0
1.9
1.1
1.3
1.6
1.8
2.0
1.8
1.0
1.5
1.5
1,8
1.9
1.7
0.9
1.5
1.5
1.4
1.4
2.3
2.5
2.4
2.7
2.4
1.8
2.1
2.8
2.7
1.4
1.6
1.8
1.9
Aug.
Sept
Oct.
2.6
2.4
2.4
2.8
2.3
2.6
2.4
2.4
2.8
2.3
2.1
2.9
2.8
1.3
1.7
1.8
2.0
2.2
2.9
2.7
1.2
1.8
1.8
2.0
2.2
2.8
2.6
1.2
1.8
1.8
2.1
Dec.
IQ
3.9
3.7
1.8
2.1
3.0
2.7
3.2
3.7
3.5
3.9
3.3
4.0
3.2
3.8
3.0
3.6
3.0
3.7
2.8
2.2
3.0
2.6
3.0
2.7
2.8
2.7
2.7
2.8
2.5
2.8
2.4
2.9
2.7
3.0
2.3
2.9
2.6
3.0
2.2
1.9
1.9
1.7
0.9
1.8
2.0
1.9
1.9
2.0
1.9
2.1
1.9
1.0
1.0
1.1
2.1
1.8
1.3
1.2
1.5
1.1
1.5
1.2
1.4
1.2
1.5
1.1
1.5
1.3
1.3
1.4
2.0
1.9
1.4
1.2
1.5
1.2
1.3
1.4
3.0
2,5
3.1
2.0
1.5
2.0
1.9
1.3
1.3
1.6
1.1
4.6
3.7
2.3
1.6
3.3
2.8
3.3
1.6
1.7
2.0
1.9
1.1
1.4
1.5
1963...
1964...
1965...
1966...
1967...
1968...
1969...
1970...
1971...
1972...
1973...
1974...
1975...
1976...
1977...
1978...
1979...
1.4
1.3
1.4
1.5
1.4
1.3
1.6
2.2
1.4
1.4
1.8
2.6
2.4
2.4
2.7
2,2
1.8
2.2
2.8
2.6
1.4
1.5
1.9
2,6
2.2
2.6
2.7
2,0
1.8
2.2
2.7
2.4
1.4
1.6
2.1
2.6
2.4
2.6
2.7
1.9
1.9
2.5
2.8
1.8
1.8
2.1
1.8
2.1
1.6
1.9
2.2
1,8
2.6
2.2
2.5
2,7
2.1
1.8
2.2
2.7
2.5
1,9
2.5
2.2
2.6
2.7
2.0
1.8
2.2
2.7
2.4
2.0
1.6
2.0
2.2
2.8
2.6
1.8
2.6
2.4
2.4
2.7
2.2
1.8
2.2
2,8
2.5
1.4
1.5
2.1
2.3
2.6
2.7
2.0
1.8
2.3
2.7
2.2
2.3
2.5
2.7
1.9
1.8
2.3
2.9
2.0
2.4
2.6
2.7
1.8
1.9
2.5
2.9
1.8
2.4
2.6
2.6
1.9
1.9
2.6
2.7
1.7
1.3
1.4
1.7
2.4
2.5
2.4
2.7
2.4
1.7
2.1
2.9
2.7
1.7
1.9
2.1
1.7
1.8
2.1
1.8
1.8
2.0
1.7
1.8
2.1
1.9
2.1
1.9
2.2
1.9
2,2
2.0
2.2
1.8
2.0
4.2
3.6
2.0
1.9
3.2
2.7
3.3
1.3
1.8
1.9
1.7
0.9
1.5
1.4
2.8
2.3
2.0
2.7
2.4
2.4
2,8
3.5
4.0
2.9
3.2
3.5
3.9
3.5
3.4
3.6
2.9
3,2
3.8
3.8
3.4
3.7
2.8
3.2
3.9
3.5
2.4
3.1
3.3
3.6
2.9
3.5
3.9
3.2
2.4
3.0
3.5
3.6
2.9
2.9
3.5
3.8
3.3
2.7
3.2
3.4
3.5
2.7
2.9
3.7
3.8
2.9
2.9
3.2
3.5
3.7
2.8
3.1
3.6
3.9
3.4
3.6
3.6
3.0
2.9
3.5
3,8
3.3
2.6
3.1
3.5
3.6
2.8
2.5
1.7
2.8
2.4
2.2
2.9
2.7
2.3
1.8
2.9
2.5
2.3
2.9
2,5
2.4
1,9
2.9
2.4
2.3
2.9
2.5
2.5
2.7
2.8
2.7
1.9
2.8
2.4
2.4
2.8
2.1
2.8
2.3
2.5
2.6
2.2
2.7
2.3
2.5
2.8
2.2
2.4
2.9
1.9
2.5
2,9
2.7
1.8
2.7
2.4
1.8
2.4
2.6
2.7
2.1
2.7
2.7
2.0
2.8
2.8
2.8
2.1
2.8
2.4
2.3
2.9
2.7
2.9
2.8
2.9
2.8
2.9
2.6
3.1
2.8
2.9
2.9
2.9
2.9
2.9
3.1
3.7
3.9
3.4
3.7
2.9
3.0
2.8
2.8
3.5
3.9
3.5
3.6
3,8
3.8
3.8
3.6
3.6
4.0
3.8
3,5
3.7
3.5
2.9
3.6
3.8
3.2
2.8
3.1
3.5
3.6
2,9
3.7
3.9
2.8
2.9
3.2
3.6
3.7
3.0
3.7
3.7
2.7
3.0
3.2
3.5
3.7
3.3
3.5
3.6
3.3
3.1
3.3
3.6
3.9
3.2
3.6
4.0
3.3
3.6
2.8
3.3
3.8
3.5
2.4
3.2
3.4
3.6
2.8
3.6
4.1
2,8
2.3
2.5
3.4
3.7
2.9
3.4
3.9
3.5
2.4
2.9
3.5
3.8
3.4
2.5
2.9
3.4
3.8
3.4
2.6
2.9
3.5
3.7
3.3
2.8
2.9
3.5
3.8
3.2
2.8
3.5
3.6
3.6
3.5
3.5
3.6
3.4
3.4
3.4
3.6
37.
1.4
1.5
1.9
2,6
2.3
2.5
2.7
2.1
1.8
2.3
2.8
2.4
1.4
1.7
1.8
2.1
2.8
2.0
2.4
2.6
2.2
2.7
2.7
2.7
2.6
1.7
2.8
2.7
2,1
2.8
.4
.5
.6
.2
2.8
3.2
4.0
3.5
2.4
3.1
3.3
3.7
4.1
3.4
1.9
2,3
2.9
2.8
2.8
1.4
1.9
1,9
1,6
1,1
1.5
1.3
1.2
1.4
2.6
2.2
2.1
2.8
2.3
2.5
2.7
2.9
2.6
1.8
2.6
2.8
2.1
2.7
3.5
3.9
3.4
3.5
3.9
3.3
1.7
2.6
2.8
2.7
2.7
1.3
2.0
1.9
1.6
1.1
1.5
1.3
AVERAGE FOR PERIOD
3.1
2.8
1.8
2.5
3.0
2.1
2.8
3.9
3.6
3.4
3.7
3,4
2.8
3.1
3.9
3.6
2.5
3.1
3.3
3.5
IV Q
3.7
2.9
1.6
2.9
2.6
3.0
2.2
1.4
2.0
1.9
1.3
1.2
1.5
1.1
1.4
1.4
21. AVERAGE WEEKLY OVERTIME HOURS OF PRODUCTION WORKERS, MANUFACTURING 1
( HOURS )
1947...
1948. . .
1949, . .
1950.. .
1951. . .
1952. . .
1953. . .
1954. . .
1955. . .
1956...
1957...
1958...
1959...
I960...
1961...
1962...
II! Q
AVERAGE FOR PERIOD
4.3
3.5
2,0
1.9
3.3
2.6
3,3
1.8
2.6
2.3
2.4
2.7
2.1
Annual
II Q
i
1.4
2.3
2.5
2.4
2.7
2.5
Nov.
NUMBER OF PERSONS UHEMPLOYED, LABOR FORCE SURVEY 2
(THOUSANDS)
AVERAGE FOR PERIOD
1948...
1949...
1950...
1951...
1952...
1953...
1954...
1955...
1956...
1957...
1958...
1959...
1960...
1961...
1962...
2,034
2,596
4,026
2,305
1,972
1,839
3,077
3,157
2,666
2,796
3,875
4,068
3,615
4,671
4,081
2,328
2,849
3,936
2,117
1,957
1,636
3,331
2,969
2,606
2,622
4,303
3,965
3,329
4,832
3,871
2,399
3,030
3,876
2,125
1,813
1,647
3,607
2,918
2,764
2,509
4,492
3,801
3,726
4,853
3,921
2,386
3,260
3,575
1,919
1,811
1,723
3,749
3,049
2,650
2,600
5,016
3,571
3,620
4,893
3,906
2,118
3,707
3,434
1,856
1,863
1,596
3,767
2,747
2,861
2,710
5,021
3,479
3,569
5,003
3,863
2,214
3,776
3,367
1,995
1,884
1,607
3,551
2,701
2,882
2,856
4,944
3,429
3,766
4,885
3,844
2,213
4,111
3,120
1,950
1,991
1,660
3,659
2,632
2,952
2,796
5,079
3,528
3,836
4,928
3,819
2,350
4,193
2,799
1,933
2,087
1,665
3,854
2,784
2,701
2,747
5,025
3,588
3,946
4,682
4,013
2,302
4,049
2,774
2,067
1,936
1,821
3,927
2,678
2,635
2,943
4,821
3,775
3,884
4,676
3,961
2,259
4,916
2,625
2,194
1,839
1,974
3,666
2,830
2,571
3,020
4,570
3,910
4,252
4,573
3,803
2,285
3,996
2,589
2,178
1,743
2,211
3,402
2,780
2,861
3,454
,188
,003
,330
,295
,024
2,429
4,063
2,639
1,960
1,667
2,818
3,196
2,761
2,790
3,476
4,191
3,653
4,617
4,177
3,907
2,254
2,825
3,946
2,182
1,914
1,707
3,338
3,015
2,679
2,642
4,223
3,945
3,557
4,785
3,958
2,239
3,581
3,459
1,923
1,853
1,642
3,689
2,832
2,798
2,722
4,994
3,493
3,652
4,927
3,871
2,288
4,118
2,898
1,983
2,005
1,715
3,813
2,698
2,763
2,829
4,975
3,630
3,889
4,762
3,931
2,324
4,325
2,618
2,111
1,750
2,334
3,421
2,790
2,741
3,317
4,316
3,855
4,400
4,348
3,911
2,276
3,637
3,288
2,055
1,883
1,834
3,532
2,852
2,750
2,859
4,602
3,740
3,852
4,714
3,911
1963...
1964...
1965...
1966...
1967...
1968...
1969...
1970...
1971...
1972...
1973...
1974...
1975...
1976...
1977...
1978...
1979...
4,074
4,029
3,572
2,988
2,968
2,878
2,718
3,213
4,968
4,966
4,265
4,564
7,397
7,405
7,122
6,305
4,238
3,932
3,730
2,820
2,915
3,001
2,692
3,448
4,877
4,876
4,406
4,661
7,424
7,196
7,266
6,088
4,072
3,950
3,510
2,887
2,889
2,877
2,712
3,628
4,956
4,981
4,335
4,559
7,870
7,101
7,147
6,153
4,055
3,918
3,595
2,828
2,895
2,709
2,758
3,796
4,926
4,902
4,399
4,536
8,106
7,211
6,933
6,056
4,217
3,764
3,432
2,950
2,929
2,740
2,713
3,913
4,956
4,876.
4,300
4,670
8,398
7,000
6,864
6,126
3,977
3,814
3,387
2,872
2,992
2,938
2,816
,016
,915
,880
,278
,846
8,137
7,233
7,046
5,902
4,051
3,608
3,301
2,876
2,944
2,883
2,868
4,180
5,015
4,877
4,239
4,976
8,033
7,393
6,741
6,228
3,878
3,655
3,254
2,900
2,945
2,768
2,856
4,252
5,132
4,912
4,238
4,926
7,831
7,407
6,801
5,929
3,957
3,712
3,216
2,798
2,958
2,686
3,040
4,454
5,032
4,833
4,292
5,357
7,841
7,286
6,635
5,971
'3,987
3,726
3,143
2,798
3,143
2,689
3,049
4,637
5,001
4,924
4,074
5,432
7,792
7,306
6,622
5,788
4,151
3,551
3,073
2,770
3,066
2,715
2,856
4,885
5,141
4,557
4,321
6,044
7,667
7,468
6,638
5,882
3,975
3,651
3,031
2,912
3,018
2,685
2,884
5,056
5,112
4,478
4,425
6,548
7,614
7,372
6,169
5,984
4,128
3,970
3,604
2,898
2,924
2,919
2,707
3,430
,4,934
4,941
4,335
4,595
7,564
7,234
7,178
6,182
4,083
3,832
3,471
2,883
2,939
2,796
2,762
3,908
4,932
4,886
4,326
4,684
8,214
7,148
6,948
6,028
3,962
3,658
3,257
2,858
2,949
2,779
2,921
4,295
5,060
4,874
4,256
5,086
7,902
7,362
6,726
6,043
4,038
3,643
3,082
2,827
3,076
2,696
2,930
4,859
5,085
4,653
4,273
6,008
7,691
7,382
6,476
5,885
4,070
3,786
3,366
2,875
2,975
2,817
2,832
4,088
4,993
4,840
4,304
5,076
7,830
7,288
6,855
6,047
This series contains revisions beginning with 1974.
This series contains revisions beginning with 1975.
(FEBRUARY 1980)
99
C. Historical Data for Selected Series—Continued
Quarterly
Monthly
Annual
Year
Feb.
Jan,
Mar.
Apr.
May
June
July
Aug.
Sept.
Nov.
Oct.
Dec.
IQ
II Q
40, NUMBER OF EMPLOYEES IN NONAGRI CULTURAL GOODS-PRODUCING INDUSTRIES—MINING, MANUFACTURING
(THOUSANDS)
AND CONSTRUCTION, ESTABLISHMENT SURVEY1
IIIQ
IV Q
AVERAGE FOR PERIOD
1947...
1948...
1949...
1950...
1951...
1952...
1953...
1954...
1955...
1956...
1957...
1958...
1959...
1960...
1961...
1962...
18,466
18,915
18,394
17,389
19,817
20,014
21,073
20,219
19,832
20,997
21,196
20,183
20,061
20,789
19,675
20,122
18,499
18,710
18,195
17,119
19,988
20,146
21,235
20,163
19,984
21,087
21,278
19,730
20,121
20,903
19,559
20,304
18,491
18,782
17,978
17,563
20,041
20,066
21,295
20,030
20,191
21,024
21,269
19,504
20,315
20,636
19,621
20,328
18,486
18,507
17,778
17,808
20,094
20,099
21,304
19,877
20,367
21,137
21,192
19,266
20,520
20,721
19,628
20,526
18,370
18,651
17,537
18,198
20,088
20,034
21,296
19,727
20,526
21,135
21,124
19,165
20,644
20,653
19,745
20,516
18,414
18,777
17,401
18,424
20,080
19,642
21,278
19,646
20,641
21,207
21,092
19,178
20,765
20,544
19,880
20,473
18,334
18,876
17,332
18,680
20,045
19,511
21,266
19,476
20,626
20,596
21,026
19,219
20,793
20,451
19,878
20,526
18,403
18,822
17,385
19,074
19,919
20,149
21,142
19,418
20,661
21,124
20,942
19,320
20,273
20,375
19,967
20,546
18,504
18,915
17,510
19,219
19,809
20,421
21,068
19,479
20,675
21,137
20,843
19,494
20,242
20,255
19,963
20,548
18,583
18,822
16,777
19,435
19,834
20,582
20,889
19,547
20,789
21,261
20,741
19,426
20,127
20,151
20,004
20,552
18,680
18,795
17,119
19,510
19,853
20,793
20,638
19,705
20,876
21,214
20,539
19,817
20,339
20,012
20,144
20,505
18,822
18,677
17,358
19,533
19,957
20,934
20,471
19,748
20,942
21,292
20,418
19,838
20,720
19,752
20,200
20,428
18,485
18,802
18,189
17,357
19,949
20,075
21,201
20,137
20,002
21,036
21,248
19,806
20,166
20,776
19,618
20,251
18,423
18,645
17,572
18,143
20,087
19,925
21,293
19,750
20,511
21,160
21,136
19,203
20,643
20,639
19,751
20,505
18,414
18,871
17,409
18,991
19,924
20,027
21,159
19,458
20,654
20,952
20,937
19,344
20,436
20,360
19,936
20,540
18,695
18,765
17,085
19,493
19,881
20,770
20,666
19,667
20,869
21,256
20,566
19,694
20,395
19,972
213,116
213,495
18,509
18,774
17,565
18,506
19,959
20,198
21,074
19,751
20,513
21,104
20,964
19,513
20,411
20,434
19,857
20,451
1963...
1964...
1965...
1966...
1967...
1968...
1969...
1970...
1971...
1972...
1973...
1974...
1975...
1976.,.
1977...
1978...
1979...
20,463
20,608
21,459
22,615
23,488
23,336
24,119
24,190
22,941
23,226
24,391
25,200
23,268
23,075
23,652
24,838
20,425
20,830
21,560
22,793
23,389
23,542
24,229
24,198
22,841
23,269
24,618
25,219
22,744
23,145
23,796
24,893
20,447
20,832
21,606
22,950
23,314
23,S42
24,306
24,204
22,828
23,406
24,702
25,139
22,463
23,228
24,016
25,107
20,615
20,875
21,642
23,002
23,282
23,663
24,310
24,027
22,917
23,484
24,745
25,094
22,312
23,357
24,191
25,487
20,681
20,915
21,763
23,082
23,211
23,694
24,358
23,744
22,977
23,588
24,804
25,054
22,351
23,331
24,326
25,534
20,650
20,958
21,849
23,250
23,200
23,717
24,445
23,649
22,918
23,661
24,919
25,003
22,291
23,317
24,433
25,652
20,697
21,020
21,941
23,291
23,236
23,758
24,497
23,598
22,885
23,574
24,931
24,911
22,280
23,373
24,480
25,710
20,717
21,088
22,032
23,363
23,238
23,796
24,486
23,467
22,844
23,694
24,981
24,834
22,485
23,367
24,490
25,716
20,745
21,225
22,134
23,299
23,226
23,831
24,477
23,375
22,982
23,795
24,977
24,726
22,660
23,516
24,565
25,767
20,769
20,983
22,206
23,373
23,205
23,872
24,442
22,830
22,933
24,004
25,109
24,587
22,746
23,396
24,635
25,941
20,707
21,307
22,373
23,419
23,440
23,972
24,300
22,702
23,038
24,121
25,214
24,216
22,777
23,552
24,740
26,120
20,723
21,402
22,536
23,467
23,474
24,092
24,353
23,014
23,067
24,188
25,268
23,659
22,872
23,564
24,750
26,272
20,445
20,757
21,S42
22,786
23,397
23,473
24,218
24,197
22,870
23,300
24,570
25,186
22,825
23,149
23,821
24,946
20,649
20,916
21,751
23,111
23,231
23,691
24,371
23,807
22,937
23,578
24,823
25,050
22,318
23,335
24,317
25,558
20,720
21,111
22,036
23,318
23,233
23,795
24,487
23,480
22,904
23,688
24,963
24,824
22,475
23,419
24,512
25,731
20,733
21,231
22,372
23,420
23,373
23,979
24,365
22,849
23,013
24,104
25,197
24,154
22,798
23,504
24,708
26,111
20,640
21,005
21,926
23,158
23,308
23,737
24,362
23,577
22,935
23,668
24,893
24,794
22,600
23,352
24,346
25,597
41. NUMBER OF EMPLOYEES Oil NOHAGRICULTURAL PAYROLLS , ESTABLISHMENT SURVEY1
(THOUSANDS)
AVERAGE FOR PERIOD
1947...
1948...
1949.,.
1950...
1951...
1952..,
1953,.,
1954...
1955...
1956...
1957,. .
1958...
1959...
I960...
1961...
1962...
43,524
44,630
44,631
43,472
47,227
48,229
50,043
49,340
49,363
51,880
52,808
52,002
52,410
54,184
53,524
54,703
43,584
44,492
44,399
43,175
47,519
48,491
50,271
49,270
49,523
52,096
53,000
51,448
52,558
54,406
53,373
54,996
43,630
44,615
44,169
43,816
47,700
48,450
50,360
49,081
49,867
52,141
53,052
51,131
52,863
54,348
53,462
55,109
43,510
44,334
44,057
44,238
47,849
48,476
50,367
48,984
50,106
52,302
53,029
50,787
53,190
54,561
53,485
55,384
43,529
44,615
43,806
44,589
47,803
48,478
50,343
48,857
50,414
52,387
52,999
50,760
53,382
54,366
53,664
55,514
43,669
44,863
43,582
44,953
47,915
48,130
50,386
48,810
50,705
52,454
52,961
50,822
53,603
54,292
53,922
55,563
43,669
45,059
43,415
45,361
47,923
47,992
50,385
48,689
50,823
51,764
52,970
50,915
53,683
54,230
54,052
55,663
43,783
45,052
43,490
46,035
47,806
48,687
50,272
48,644
50,905
52,396
52,918
51,118
53,230
54,198
54,232
55,796
44,003
45,167
43,708
46,304
47,743
49,076
50,216
48,752
51,085
52,446
52,825
51,359
53,265
54,069
54,303
55,860
44,184
45,084
42,823
46,530
47,833
49,436
50,114
48,828
51,308
52,667
52,673
51,379
53,203
53,982
54,375
55,919
44,324
45,083
43,148
46,654
48,026
49,710
49,824
49,102
51,491
52,722
52,458
51,831
53,503
53,843
54,636
55,943
44,529
45,032
43,497
46,756
48,119
49,933
49,627
49,242
51,721
52,865
52,281
51,968
54,033
53,571
54,739
55,915
43,579
44,596
44,400
43,488
47,482
48,390
50,225
49,230
49,584
52,039
52,953
51,527
52,610
54,313
53,453
54,936
43,569
44,604
43,815
44,593
47,856
48,361
50,365
48,884
50,408
52,381
52,996
50,790
53,392
54,406
53,690
55,487
43,818
45,093
43,538
45,900
47,824
48,585
50,291
48,695
50,938
52,202
52,904
51,131
53,393
54,166
54,196
55,773
44,346
45,066
43,156
46,647
47,993
49,693
49,855
49,057
51,507
52,751
52,471
51,726
53,580
53,799
54,583
55,926
43,857
44,366
43,754
45,197
47,819
48,793
50,202
48,990
50,641
52,369
52,853
51,324
53,268
54,189
53,999
55,549
1963...
1964...
1965...
1966...
1967...
1968...
1969...
1970...
1971...
1972...
1973...
1974...
1975...
1976...
1977...
1978...
1979...
55,927
57,281
59,419
62,415
65,240
66,656
69,297
71,059
70,752
72,357
75,521
78,020
77,130
78,329
80,565
84,421
56,039
57,621
59,710
62,766
65,224
67,026
69,575
71,201
70,689
72,542
75,923
78,181
76,699
78,592
80,794
84,735
56,157
57,686
59,921
63,129
65,305
67,156
69,803
71,363
70,766
72,850
76,168
78,184
76,404
78,839
81,233
85,246
S6,398
57,846
60,080
63,318
65,373
67,422
69,980
71,283
70,969
73,079
76,308
78,239
76,312
79,121
81,622
85,961
56,534
57,974
60,389
63,595
65,478
67,519
70,197
70,998
71,129
73,346
76,473
78,381
76,476
79,208
81,986
86,227
56,571
58,128
60,590
63,989
65,642
67,779
70,478
70,888
71,136
73,639
76,743
78,443
76,409
79,279
82,369
86,590
56,705
58,309
60,868
64,166
65,816
67,979
70,629
70,927
71,169
73,576
76,713
78,492
76,683
79,471
82,616
86,686
56,832
58,510
61,072
64,306
65,933
68,189
70,742
70,750
71,168
73,908
77,009
78,511
77,092
79,604
82,849
86,880
56,971
58,777
61,333
64,367
66,074
68,333
70,800
70,815
71,499
74,107
77,170
78,542
77,277
79,862
83,287
87,032
57,148
58,658
61,538
64,614
66,091
68,569
70,957
70,383
71,485
74,537
77,506
78,599
77,523
79,833
83,549
87,424
57,125
59,080
61,859
64,839
66,570
68,837
70,921
70,264
71,723
74,904
77,867
78,234
77,607
80,129
83,908
87,840
57,251
59,320
62,209
65,042
66,767
69,151
71,119
70,661
71,977
75,164
77,933
77,531
77,843
80,261
84,125
88,133
56,041
57,529
59,683
62,770
65,256
66,946
69,558
71,208
70,736
72,583
75,871
78,128
76,744
78,587
80,864
84,801
56,501
57,983
60,353
63,634
65,498
67,573
70,218
71,056
71,078
73,355
76,508
78,354
76,399
79,203
81,992
86,259
56,836
58,532
61,091
64,280
65,941
68,167
70,724
70,831
71,279
73,864
76,964
78,515
77,017
79,646
82,917
86,866
57,175
59,019
61,869
64,832
66,476
68,852
70,999
70,436
71,728
74,868
77,.769
78,121
77,658
80,074
83,861
87,799
56,653
58,283
60,765
63,901
65,803
67,897
70,384
70,880
71,214
73,67S
76,790
78,26S
76,945
79,382
82,423
86,446
42. TOTAL NUMBER OF PERSONS ENGAGED IN NONAGRICULTURAL ACTIVITIES, LABOR FORCE SURVEY2
(THOUSANDS)
AVERAGE FOR PERIOD
1947. . .
1948...
1949...
1950...
1951...
1952...
1953...
1954...
1955...
1956...
1957...
1958...
1959...
1960...
1961...
1962...
49,984
50,385
50,570
52,808
53,312
54,958
53,951
54,640
57,163
57,842
57,389
58,387
59,889
60,354
61,014
50,500
50,186
50,694
S2,923
53,442
55,421
54,073
54,873
57,061
58,132
57,244
58,255
60,177
60,116
61,249
50,338
50,035
50,612
53,543
53,440
55,590
53,791
54,722
57,190
58,441
57,170
58,590
59,714
60,444
61,336
50,734
49,836
51,319
53,167
53,384
55,082
54,043
55,152
57,154
58,211
57,029
58,875
60,488
60,337
61,363
50,713
49,485
51,372
53,436
53,861
55,082
53,698
55,307
57,486
57,986
57,227
58,907
60,698
60,350
61,724
51,152
49,370
51,767
53,091
53,690
55,095
53,630
55,538
57,485
58,194
57,220
59,137
60,752
60,773
61,727
51,366
49,169
51,875
53,555
53,637
55,130
53,421
56,075
57,480
58,139
57,220
59,447
60,367
60,455
61,643
50,894
49,793
52,549
53,204
53,616
54,832
53,766
56,222
57,692
58,061
57,339
59,402
60,375
60,486
62,102
50,648
50,287
52,583
53,155
53,984
54,708
53,829
56,131
57,704
58,393
57,728
59,323
60,512
60,520
62,325
50,761
50,455
52,432
53,374
53,769
54,797
54,028
56,263
57,838
58,171
57,912
59,556
60,196
60,716
62,298
50,793
50,512
52,534
53,137
54,239
54,393
54,423
56,602
57,799
57,983
57,899
59,050
60,596
60,991
62,016
50,756
50,466
52,669
53,432
54,593
54,048
54,268
57,031
58,104
57,885
58,028
59,883
60,156
60,908
62,300
50,274
50,202
50,625
53,091
53,398
55,323
53,938
54,745
57,138
58,138
57,268
58,411
59,927
60,305
61,200
50,866
49,564
51,486
53,231
53,645
55,086
53,790
55,332
57,375
58,130
57,159
58,973
60,646
60,487
61,605
50,969
49,750
52,336
53,305
53,746
54,890
53,672
56,143
57,625
58,198
57,429
59,391
60,418
60,487
62,023
50,770
50,478
52,545
53,314
54,200
54,413
54,240
56,632
57,914
58,013
57,946
59,496
60,316
60,872
62,205
50,714
49,993
51,758
53,235
53,749
54,919
53,904
55,722
57,514
58,123
57,450
59,065
60,318
60,546
61,759
1963...
1964...
1965...
1966...
1967...
1968...
1969...
1970...
1971...
1972...
1973.. .
1974...
1975...
1976...
1977...
1978...
1979...
62,190
63,724
65,726
68,121
69,781
70,792
73,101
75,440
75,319
77,283
79,196
82,069
81,290
82,833
85,424
89,425
62,372
64,188
65,805
68,056
69,883
71,270
73,557
75,264
75,199
77,350
79,928
82,163
80,939
83,222
85,784
89,653
62,655
64,397
66,121
68,119
69,682
71,475
73,699
75,320
74,995
77,778
80,419
82,366
80,853
83,508
86,216
89,813
62,972
64,942
66,209
68,402
70,134
71,686
73,894
75,333
75,182
77,860
80,540
82,263
80,883
83,787
86,572
90,468
62,886
65,028
66,310
68,567
70,186
72,293
73,706
74,998
75,453
78,063
80,650
82,524
80,871
84,205
86,895
90,818
63,007
64,662
66,581
68,808
70,589
72,376
74,217
74,883
75,275
78,264
81,062
82,744
80,951
84,000
87,141
91,141
63,211
64,808
67,070
68,940
70,687
72,267
74,411
75,179
75,717
78,306
81,133
82,883
81,392
84,492
87,402
91,046
63,304
64,890
67,007
69,225
70,804
72,307
74,637
75,173
75,904
78,476
81,089
82,742
81,753
84,593
87,745
91,457
63,524
64,959
67,015
69,306
71,003
72,414
74,699
75,000
76,034
78,508
81,458
82,718
81,691
84,610
88,006
91,598
63,592
65,032
67,277
69,489
71,043
72,483
74,928
75,267
76,218
78,479
81,858
82,633
81,875
84,660
88,278
92,024
63,573
65,239
67,631
69,895
71,192
72,736
75,064
75,169
76,543
78,938
82,001
82,304
82,015
85,067
88,881
92,488
63,584
65,492
67,903
69,823
71,397
73,032
75,331
75,101
76,753
79,266
82,008
81,875
82,299
85,259
89,292
92,456
62,406
64,103
65,884
68,099
69,782
71,179
73,452
75,341
75,171
77,470
79,848
82,199
81,027
83,188
85,808
89,630
62,955
64,877
66,367
68,592
70,303
72,118
73,939
75,071
75,303
78,062
80,751
82,510
80,902
83,997
86,869
90,809
63,346
64,886
67,031
69,157
70,831
72,329
74,582
75,117
75,885
78,430
81,227
82,781
81,612
84,565
87,718
91,367
63,583
65,254
67,1504
69,736
71,211
72,750
75,^108
75,179
76,505
78,094
81,936
82,271
82,063
34,995
88,817
92,323
63,076
64,782
66,726
68,915
70,527
72,103
74,296
75,165
75,732
78,230
80,957
82,443
81,403
84,188
87,302
91,031
'This series contains revisions beginning with 1974. 2Th1s series contains revisions beginning with 1975.
100
(FEBRUARY 1980}
C. Historical Data for Selected Series—Continued
Quarterly
Monthly
Year
Jan.
Feb.
Apr.
Mar.
June
May
July
Aug.
Sept.
Oct.
Nov.
Dec.
1 Q
II Q
ill
Q
IV Q
Annual
43 . UNEMPLOYMENT RATE, TOTAL1
(PERCENT)
1947...
1948...
1949...
1950...
1951...
1952...
1953...
1954...
1955...
1956...
1957...
1958...
1959...
I960.. .
1961...
1962...
1963.,,
1964.,.
1965...
1966...
1967...
1966...
1969.,.
1970...
1971...
1972..,
1973.. .
1974...
1975...
1976...
1977...
1978...
1979...
3.4
4.3
6.5
3.7
3.2
2.9
4.9
4.9
4.0
4.2
5.8
6.0
5.2
6.6
5.8
3.8
4.7
6.4
3.4
3.1
2.6
5.2
4.7
3.9
3.9
6.4
5.9
4.8
6.9
5.5
4.0
5.0
6.3
3.4
2.9
2.6
5.7
4.6
4.2
3.9
5.3
5.8
3.1
2.9
2.7
5.9
4.7
4.0
3.5
6.1
5.5
3.0
3.0
2.5
5.9
4.3
4.3
5.6
5.4
6.9
5.6
5.2
5,2
7.0
5.6
5.7
5.6
4.9
4.0
3.9
3.7
5.9
5.4
5.1
3.8
3.8
3.8
5.7
5.4
4.7
3.8
3.8
3.7
5.9
5.8
4.9
5.1
8.0
5.9
5.7
5.0
5.1
8,1
7.4
6.4
7.6
6.1
1963, ,.
1964...
1965.. .
1966...
1967...
1968.. .
1969...
1970..,
1971...
1972...
1973...
1974.. .
1975...
1976...
1977.,,
1978...
1979...
1963...
1964...
1965...
1966...
1967...
1968...
1969...
1970...
1971...
1972...
1973...
1974...
1975...
1976...
1977.. .
1978...
1979...
4,0
6.6
4.3
3.1
2.7
4.5
5.0
3.7
4.7
6.4
3.5
3.1
2.7
5.3
3.7
5.9
5.6
3.1
3.0
2.6
5,8
3,8
6.7
4.6
3.2
3.2
2.7
6.0
3.8
7.0
4.2
3.4
2.8
3.7
5,3
3,9
4.5
6.7
5.7
6.1
6.5
5.4
4.3
5.1
6.2
5.8
6.1
6.1
5.7
4.2
5.2
6.2
5.3
6.6
6.0
5.5
4.0
3.9
6.3
5.8
5.1
6.8
5.6
4.2
4.1
7.4
5.1
5.2
7.0
5.5
4.1
4.2
7.3
5.3
5.5
6.8
5.6
4.1
4.9
6.4
5.6
6.3
6.2
5,5
3.8
5.9
5.3
3.3
3.0
2.9
5.5
4.4
4.1
4.3
6.8
5,5
5.S
6.7
5.5
5.5
5.1
5.5
5.1
5.7
4.8
5.5
5.0
3.8
3.8
3.7
3.8
3.7
4.0
3.6
3.9
3.8
3.8
5.8
5.5
4.9
3.9
3.8
3.7
5.0
6.0
5.6
4.8
5.5
8.7
5,1
6.1
5.6
4.8
5.4
8.4
5.4
6.0
5.6
4.8
5.9
8.4
5.6
5.9
5.7
4.6
5.9
8.4
5.9
6.0
5.2
4.8
6.6
8.2
6.1
6,0
5.1
4.9
7.1
8.2
4.2
5.9
5.8
4.9
5.1
8.2
5.7
5.2
4.7
3.8
3.8
3,6
3.4
4.7
5.9
5.6
4.9
5,1
8.9
6.9
6.2
7.0
5.9
6.8
5.9
6.7
5.7
6.7
5.8
6.2
5.9
7.5
6.2
7.2
6.0
5.5
5.0
4.4
3.8
3.8
3.5
3.6
5.2
6.0
5.6
4.8
5.6
8.5
7.8
6.9
6.0
5.6
S.O
4.1
3.7
3.9
3.4
3.6
S.9
6.0
5.3
4.8
6.5
8.3
7,7
6.5
5.8
5.7
5.2
4.5
3.8
3.8
3.6
3.5
4.9
5.9
5.6
4,9
5.6
8.5
7.7
7.0
6.0
6.7
5.0
3.1
6.8
4.5
3.1
6.6
4.4
3.3
2.6
5.8
4.0
4.4
4.2
2.7
6.0
4.2
4,1
4.1
2.9
6.1
4.1
3.9
4.4
5.1
5.1
7.1
5.5
5.0
5.4
6.9
5.1
5.5
7.0
5.2
5.6
6.6
5.5
5.5
6.7
5,7
5.3
4.8
3.8
3.8
3.5
5.9
5.1
5.6
5.2
5.6
4.9
5.4
5.0
3.9
3.8
3.5
3,8
3.9
3.7
3.8
3.8
5.9
5.8
4.9
5.0
8.5
5.9
5.7
5.0
5.0
8.8
5.9
5.6
4.9
5.1
9.0
5.9
5.6
4.8
5.3
8.8
7.4
6.2
7.2
6.1
7.1
6.1
7.2
5,9
1.0
0.8
0.8
2.6
0.4
0.3
0.3
1.6
0.8
0.8
0.8
2.8
0.5
1.6
0.9
0.4
0.4
0.3
1.6
0.9
0.8
1.0
2.5
0.5
1.7
0.8
0.5
0.3
0.4
1.5
0.9
0.9
1.0
2.3
0.5
1.6
0.8
0.4
0.4
0.5
1.3
0.9
0.9
1.1
2.2
0.5
0.6
1.5
0.6
0.4
0.3
0.9
1.3
0.8
0.8
1.5
0.5
1.0
1.4
0.4
0.4
0.3
1.3
1.1
0.8
0.8
2.3
2.6
1.5
2.3
1.5
2.2
1.5
2.1
1.4
2.0
1.5
1.9
1.5
2.0
1.8
1.5
1.4
0.9
0.6
0.5
0.5
0.5
0.8
1.6
1.3
1.0
0.6
0.6
0.5
0.5
0.8
1.5
1.3
0.9
1.0
3.1
2.5
1.9
1.5
1.3
1.0
0.6
0.6
0.5
0.5
0.9
1.5
1.3
0.9
1.1
3.1
2.4
1.9
1.5
1,2
1.5
1.3
1.4
1,2
0.6
0.6
0.5
0.5
0.9
1.5
1.3
0.9
1.1
2.9
2.4
1.8
0.6
0.6
0.5
0.5
1.0
1.5
1.2
0.9
1.2
3.0
2.4
1.8
0.6
0.6
0.4
0.5
1.3
1.5
1.1
0.8
1,4
3.0
2.4
1,7
0.5
0.7
1.5
0.6
0.4
0.3
1.2
1.3
0.8
0.8
1.7
1.8
1.4
0.5
0.8
1.5
0.5
0.4
0.3
0.5
1.0
0.5
1.2
0.5
1.4
0.5
1.5
0.4
0.4
0.3
0,4
0.3
0.3
0.4
0.3
0.3
1.3
0.7
0.8
2.1
1.5
1.3
1.1
0.8
0.8
2.2
1.4
1.1
1.0
0,8
0.8
2.5
1.4
1.2
1.7
1.6
1.6
1.5
1.6
1.5
1.6
1.5
1.5
1.6
1.5
0.8
0.6
0.6
0.4
0.5
0.8
0.6
0.6
0.4
0.6
0.8
0.6
0.6
0.4
0.6
0.8
0.6
0.5
0.5
0.7
0.7
0.5
0.5
0.5
0.7
1.1
0.6
0.5
0.5
0.5
0.8
1.5
1.1
0.9
1.7
2.9
2.3
1.6
1.5
1.0
0.9
2.0
2.7
2.2
1.6
1.4
1.0
0.9
2.2
2.6
2.1
1.5
1.4
0.9
1.0
2.6
2.3
2.0
1.5
1.3
0.9
1.0
2.8
2.2
2.0
1.4
1.3
0.9
1.0
3.1
2.4
1.9
1.3
351.7
384.2
396.6
423.8
423.8
437.2
469.5
482.6
476.5
495.0
336.7
336.7
343.0
348.5
381.8
404.0
425.6
423.2
438.4
470.9
484.6
476.6
497.0
327.8
344.2
343.9
354.5
385.6
405.6
429.7
420.9
442.2
470.6
485.7
475.8
331.8
325.0
342.3
342.3
358.3
392.0
403.5
430.2
326.9
343.0
342.8
362.8
408.4
432.4
410.3
419.0
421.1
451.1
474,1
421.4
484,7
473.4
507.6
487.1
446.3
476.0
485,7
471.5
505.1
517.0
392.1
349.7
339.7
364.6
395.9
433.0
453.2
475.7
476.7
508.7
517.3
516.1
542.1
515.9
516.6
519.6
520.1
520.5
522.7
544.9
548.0
551.2
551.8
526.5
553.5
560.4
562.1
590,1
564.9
593.2
629.5
672.4
699.4
728.2
566.8
597.6
632.9
674.4
626.2
667.3
696.5
718.9
755.1
775.3
786.1
815.9
628.3
670,3
696.8
724.9
757.8
776.0
785.8
821.8
868.8
880.2
844.6
872.4
875.4
873.4
840.4
880.6
915.6
921.0
967.4
969.4
1.3
0.8
1.0
3.2
2.4
1.9
761.4
779.6
788.4
826.0
879.3
869.8
840.3
883.9
928.9
978.9
329.4
347.9
338.3
369.9
394.8
406.2
0.5
1.6
0.8
0.4
0.4
0.4
1.5
0.9
0.9
1.0
2.3
1.3
1.7
2.0
1.5
0.5
1.1
1.3
0.5
0.4
0.3
1.3
1.1
0.8
0.8
2.1
1.5
1.4
2.2
1.6
1.6
1.4
1.5
1.3
1.5
1,3
0.8
0.6
0.6
0.4
0.6
1.3
1.5
1.0
0.9
2.0
2.7
2.2
0.7
0.5
0.5
0.5
0.7
1.4
1.3
0.9
1.0
2.8
2,3
2.0
1.4
0.6
0.6
0.5
0.5
0.8
1.5
1.3
0.9
1.0
3.1
2.4
1.9
1.3
1.5
1.2
0,9
0.6
0.6
0.5
0.5
1.1
1.5
1.2
0.9
1.2
3.0
2.4
1.8
1.2
1.5
1.3
1.0
0.7
0.6
0.5
0.5
0.8
1.4
1.3
0.9
1.0
2.7
2.5
2.0
1.4
334.3
338.8
343.4
327.9
345.0
329.0
350.2
332.2
341.6
361.9
341.4
342.3
383.7
400.0
420.8
429.3
433.3
467.7
484.6
431.9
421.6
459.1
AVERAGE FOR PERIOD
331.5
353.5
339.3
380.4
399.8
332.9
352.8
342.2
383.2
400.0
421.4
421.5
419.8
421.2
402.1
393.3
407.4
427,9
428.6
430.0
430,3
465.2
484.3
486.7
488.6
502.4
430.3
433.5
467.5
484.6
484.7
427.6
426.4
422.6
439.3
470.3
484.3
476.3
497.8
420.5
450.2
475,3
485.8
473.9
518.3
515.4
541.0
329.0
328.5
332.1
351.0
341.0
351.7
344.8
377.6
396.9
376.7
399.3
415.9
429.1
470.6
487.9
485.7
508.2
425.5
459.3
477.5
488.8
484.2
502.8
519.2
527.1
556.1
517.5
501.8
517.2
529.6
556.0
530.4
556.2
461.3
480.6
487.5
487.4
535.5
557.0
515.8
516.9
561.9
545.0
584.6
625.0
666.2
690.9
720.5
754.7
776.9
778.0
807.8
573.8
577.3
580,3
580.3
611.5
614.0
613.9
647.5
685.6
709.8
745.6
773.0
784.6
652.2
658.3
689.3
618.8
663.1
691.9
714.8
869.4
846.8
891.7
891.0
935.5
986.7
938.7
943.1
991.1
998.5
791.3
834.1
881.0
791.7
845.7
886.9
867.5
855.9
897.0
945.7
1000.3
686.1
711.0
747.6
774.4
784.8
792.5
845.3
892.5
863.8
861.6
899.7
950.2
1004.1
710.4
749.5
775.8
776.0
795.0
853.1
894.5
863.5
864.6
903.9
960.3
1013.0
383.9
543.3
571.7
734.7
765.3
783.5
351.6
559.7
606.3
644.9
684.5
706.6
743.2
769.9
782.3
789.5
838.5
887.9
873.5
849.6
893.7
701.7
481.0
516.1
512.0
571.8
729.4
763.2
783.8
789.9
832.6
880.2
868.0
840.5
889.7
930.5
987.5
470.3
484.9
496.0
603.7
642.3
682.3
704.3
739.5
767.4
780.6
788.7
824.2
883.9
870.9
848.7
701.0
436.1
507.3
568.2
638.6
677.8
348.8
345.5
387.4
400.3
495.1
601.9
'This series contains revisions beginning with 1975. 2This series contains revisions beginning with 1959.
2.3
1.6
0.5
1.5
1.1
0.4
0.3
0.3
1.6
0.9
0.8
0.8
2.7
1.3
1.3
2.4
1.5
PERSONAL INCOME, LESS TRANSFER PAYMENTS, IN 1972 DOLLARS 2
{ANNUAL RATE, BILLIONS OF DOLLARS)
501.4
514.3
518.1
584.1
AVERAGE FOR PERIOD
0.5
1.6
1.0
0.4
0.4
0.3
1.6
0.9
0.9
0.8
2.6
0.5
0.6
1.5
0.6
0.4
0,3
0.6
1.3
0.8
0.8
1.5
1.9
1.2
2.0
1.8
338.5
335.4
343.4
3.7
7.9
4.2
3.5
UNEMPLOYMENT RATE, 15 WEEKS AND OVER 1
(PERCENT)
0.5
0.5
1.5
0.7
0.5
0.4
0.6
1.4
' 0.8
0.8
1.3
2.1
1.3
1.9
1.8
51.
1947...
1948...
1949...
1950...
1951...
1952...
1953...
1954...
1955,..
1956...
1957...
1958...
1959...
1960...
1961...
1962...
3.1
5.7
3.8
6.4
4.2
3.5
2.8
3.5
5.3
6.2
5.4
3.2
3.0
2.5
5.6
4.2
4.3
44.
1947...
1948...
1949...
1950...
1951...
1952...
1953...
1954...
1955...
1956...
1957.. .
1958...
1959...
1960...
1961...
1962...
AVERAGE FOR PERIOD
752.3
774.9
775.0
799.8
859.0
894.7
856.3
868.2
431.9
507.1
518.9
523.2
552.2
374.7
397.0
414.5
429.6
425.2
459.9
476.2
351.7
488.1
484.1
493.2
508.6
518.0
515.2
517.0
529.0
539.9
559.5
527.3
553.2
556,1
562.5
568.9
574.3
589.1
601.1
610.6
581.7
619.2
637.9
678.2
702.3
734.5
765.3
782.6
790.0
630.3
648.2
685.4
662.5
690.7
709.1
715.2
745.5
772.4
783.9
791.2
752.2
775.9
776.3
800.9
843.2
859.1
881.7
889.1
869.4
845.3
890.8
934.9
988.4
868.3
855.7
896.8
946.3
1001.0
893.8
856.9
866.7
777.0
786.8
865,1
821.2
892.3
851.0
874.5
874.5
867.3
841.8
911.8
916.0
879.0
965.9
1021.4
972.0
1030,5
921.8
971.9
411.2
429,3
425,4
454.3
476.6
485.6
482.3
504.4
485.8
504.3
628.0
670.0
697.6
724.0
758.1
330.8
346.4
342.2
368.0
393.6
910.6
966.1
1021.6
571.8
605.0
644,2
681,1
706.1
739.0
767.9
780.0
792.2
838.4
884.8
867.3
852.4
894.3
942.3
995.7
(FEBRUARY 1980)
101
C. Historical Data for Selected Series—Continued
Quarterly
Monthly
Year
Jan.
Feb.
Mar.
Apr.
52.
1947...
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...
359.2
355.4
363.0
384.1
1963..,
1964..,
1965...
1966...
1967...
1968...
1969...
1970...
1971...
1972...
1973...
1974...
1975...
1976...
1977.. .
1978.,.
1979...
347.6
366.4
366.0
397.0
405.4
425,6
344.9
363.6
364.2
388.6
346.3
362.9
364.6
388.0
351,6
412.0
412.9
429.1
417.1
401,8
417.2
463.7
497.5
424.0
447.3
447.3
464.9
498.9
445.7
469.4
498.8
512.5
511. 6
514.8
511.6
516.3
512.0
532.9
S3S.9
559.3
587.8
S35.2
554.6
562.0
590.4
539.5
553.6
593.9
509.2
543.2
556.3
565.0
596.6
612.2
608.9
638.5
678.3
725.0
760.2
612.0
614.0
642.0
679.5
727.2
764.3
797,8
835.9
858.4
646.8
683.5
728,9
881.2
883.1
928.5
933.5
992.4
986,5
977,5
1033.8
1078.6
1135.1
445.7
447.1
635.5
€79,7
721.7
758.8
785.0
328.8
852.6
877.4
915.2
980.6
995.7
974.3
1017.9
1063.0
1117.0
791.6
832,3
853.9
877.9
923.8
987.9
988.9
975.1
1027,5
1068.2
1118.1
451,7
563.1
991.7
985.0
975.9
1028.8
1076,8
1127.7
423.6
4S2.2
444.0
473.3
504.2
516.9
765.1
799.9
838.2
876.7
0.9S2
0.539
0.806
0.251
0.801
1.027
1.16S
0.257
0.886
0.732
0.393
0.269
0,924
0.737
0.347
0.308
0.992
1.020
1.327
1.067
1.392
1.086
1.295
0.435
0.443
0.759
0.735
0.330
0,366
0.519
0.300
0.445
0.424
0.458
0.608
0.996
1.033
1.06S
1.336
1.019
0.467
0.546
0.879
0.763
0,310
0.350
0,439
0.652
454.3
446.1
478.1
S02.5
517.1
511.9
545.4
559.2
568,3
597.1
615,4
651.1
688.9
731.9
766.1
805.6
840.3
869.0
884.6
935.4
993.1
988.0
984.6
1034.7
1081.9
1133.9
RATIO, HELP-WANTED ADVERTISING
0.418
0.384
0.338
0.326
0.830
0.305
0,329
1.059
1.038
1.362
0.316
0.531
0.518
0.607
0.809
0.749
0.277
0.390
0.564
0.283
0.462
0.744
0.787
0.718
0.771
0.710
0.670
0.252
0.2,20
0.492
0.485
0.286
0,457
0.219
0.407
0.462
0.607
0.431
0.402
0.467
0.653
0.426
0.494
0.646
1.077
1.042
1.012
1.350
0.941
1.113
1.021
1.077
1.350
1.095
1.029
1.165
1,339
0.837
0.480
0.568
0.872
0.764
0.280
0.394
0.450
0.682
0.784
0.483
0.583
0,846
0.788
0.272
0.376
0.468
0.488
0.568
0.851
0.741
0.305
0.385
0.434
0,680
0.479
0.288
0.456
July
Aug.
Sept.
Oct.
Nov.
Dec.
0.718
369.6
361,7
388.5
430.8
455.4
446.4
480.6
350.2
367.6
361.0
391.3
415.6
427.0
453.9
447.2
486.4
498.9
348.7
370.7
363.8
397.4
420.3
438.3
367.3
354.1
353.0
351.4
371.0
372.4
362.3
371.6
368.2
369.3
407.6
420.2
443.2
450.7
463.0
IQ
451.4
451.1
368.2
397.6
417.7
443.3
450.0
454.5
488.8
509.6
0.505
0,434
0.291
0.478
0.514
0.703
1.060
1.006
1.152
1.361
0.715
0.486
0.598
0.872
0.759
0.262
0.400
0.486
0.700
365.4
403.9
420.6
401.7
421.1
443.1
441.4
453.5
457.5
492.8
452.8
513.3
513.5
518.5
498.1
514.0
515.4
533.5
555.4
554.7
588.7
608.2
460.1
495.0
560.4
573.3
599.0
524.0
546.4
559.6
574.4
602,0
486.7
506.5
520.9
523.0
540.7
558.3
574.8
602.0
601.9
604.1
532.6
546.8
557.4
586.0
606.2
619.6
619.1
621,4
625.1
652.7
692.6
736.2
768.8
655.7
695.7
738.7
660,8
697.5
663.5
628.4
663.4
628,3
668.2
633.5
675.0
715,9
711.2
716.5
719.9
771.9
814.6
845.1
775.0
744.9
775.9
818.0
819.9
748.2
776.0
822.2
752.2
780.6
810,4
842.1
866.6
899.7
925.8
995.9
989.6
1001.5
1034,7
1083.2
1137.6
869.0
887.5
940.3
1000.1
995.8
992.4
1041.0
1092.4
1149.5
848,4
872.4
889,6
947.8
1000.0
989.7
999.7
1044,2
1095.3
1151,7
849.8
874.6
892.7
947.4
1006.4
985.7
1005.7
1046.3
1099.9
1154.6
752.2
786.4
827.9
853.7
869.5
907.6
977.3
1005.1
504,1
519.4
514.6
546.6
520.1
741.4
0.793
0.276
0.354
0.940
1,027
1.296
0.344
0.639
0.702
0.60S
0.229
0.538
0.451
0.305
0.465
0.427
0.523
0.721
1.098
0.985
1.074
1.268
0.682
0.509
0.604
0.884
0.731
0,781
0.246
0.748
0.234
0.410
0.521
0.977
0.987
0.986
0.956
1,201
1.145
0,325
0.679
0.655
0.639
0.234
0.540
0.427
0,308
0.468
0.309
0.674
0.739
0.243
0.434
0.569
0.739
0.445
0.554
0.778
1,097
0.981
1.126
1,236
1.078
1.011
1.194
1.220
0.616
0.634
0.493
0.618
0.515
0.408
0.337
0.438
519.6
526,0
540.3
558.5
575.2
520.4
527.2
541,0
559.6
580.3
825.1
851.0
851.7
867.1
894.1
865,4
963.0
1008.5
986.7
1009.0
1050.3
1109.9
1163.3
972.4
1008.0
980.2
1011.8
1059.7
1116,7
1172.0
900.1
9.78 , 9
1012.0
1064.2
1122.3
1181.6
354.5
359.6
364.1
389,7
404,0
422.3
448.2
446.7
466.0
498.4
514.5
511.7
535.9
554.7
1950. ,,
1951,..
1952...
1953...
1954.. .
1955...
19S6...
1957...
1958...
1959...
1960...
1961...
1962...
1963...
1964...
1965...
1966...
1967...
1968...
1969...
1970...
1971.. .
1972...
1973...
1974.. ,
1975...
1976.. .
1977...
1978...
1979...
55.91
55.41
54.88
55.54
54.65
55,12
55.16
55.80
55.26
55.68
54,00
54.67
S6.03
56.03
55.47
55.25
55.45
55.20
54.36
56.01
56,31
56.15
56.00
55.40
54.43
55.68
B5.8B
56.26
53.97
54.51
54.12
54.07
56.02
55.29
56.22
54.03
54.22
55.88
56.10
56.18
55.81
54.28
54.29
55.04
34,30
54,43
S4.09
54,73
53.96
55.09
55.23
54.02
54.36
55.69
5S.89
590,7
611.0
616.3
638.7
679.2
724.6
650.2
688.3
732.3
766.7
805.3
840.2
870.8
761.1
791.5
832.3
855.0
878.8
922.5
986,7
989,9
975.1
1024.7
1069.3
1120,9
1.265
1.321
0.845
0.325
0.683
0.686
0.376
0.728
0.486
0.410
0.810
0.513
0.718
0.715
0.405
0.334
0.454
0.337
0,409
0.422
0.385
0.355
0.505
0.303
0.423
0.604
0.940
0.464
0.587
0,972
0.421
1.043
1.297
1.187
1.062
1.032
1.051
1.345
1.084
1.007
1.130
1.323
0.477
0,507
0.932
0.478
0.818
0.814
0.561
0.727
0.493
0.595
0.867
0.759
0.277
0.390
0.479
0.720
0.436
0.553
0.293
0.465
0,350
0.371
0.446
0.448
0.551
0,815
1.096
0.862
0.996
0.956
1.253
1.214
1.318
1.191
0.582
0.520
0.500
0.491
1.096
0.317
0.391
0.316
0.315
0.395
0.534
0.741
0,712
0.390
0.534
0.753
0.384
0.538
0.758
56.27
55.60
54.60
54.51
54.86
54.50
54.12
54.01
54.11
54.53
55.42
55.69
55.51
56.14
56.70
55,63
55.72
56.16
57.33
55.61
55,67
56.27
58.03
53.90
54.37
S4.57
55.30
55.57
55.83
S6.47
56.50
55.39
55.69
56.57
57.37
S5.28
55.76
56,45
58.03
54.19
54.47
54.34
54.14
53.71
54.73
56.18
55.71
54.12
54.97
55,26
54.02
54.33
54.07
54.23
54.14
54.31
54.71
54.74
55.27
55.37
55.88
54.82
5S.46
55.64
55.95
S6.45
56.48
55.43
55.93
54.85
55.07
55.37
55.53
56.27
56.28
56.41
56.50
55.22
55.98
56.85
57.36
55.15
55.87
56.66
58.09
56.01
57.10
55,07
56.07
56.87
58.42
56.11
55.83
53.95
55.04
55,29
54.42
54.29
55.91
55.16
55.50
0.928
0.543
0.575
0.828
53.41
SS.44
56.04
56.05
53.92
55.11
55.22
54.04
54.06
54.08
54.45
54.98
55.52
55.78
56.25
56.54
56.00
54.21
54.51
55.45
56.02
56.78
55.16
56.07
57.07
55.44
56.05
57,06
57.15
55.15
57.13
57,18
54.99
55.97
57.07
58.76
55.23
56.24
56.15
56.22
57.06
58.56
55.28
55.52
55.88
56.10
56.52
56.11
57.10
58.60
55.91
55.74
54.14
54.95
55.23
53.55
55.65
54,49
55.82
55,39
55.57
54.95
53.89
55.73
56.15
56.18
55.49
55.58
54.10
54.91
54.18
55.71
54.95
54.18
54.37
54.15
54.80
55.20
53.87
54,46
55.66
55.94
55.98
56.65
55.95
55.50
54.29
54.50
54.99
55.67
55.92
55.99
56.57
55.77
55.48
56.19
56.10
56.88
57.00
55.36
56.24
57.24
58.76
56.99
56.92
55.29
54.49
55.13
56.10
57.30
58.78
55.98
55,62
55.16
54.89
53.82
55.72
56.04
55.45
54.36
54.86
54.62
0.690
0.224
0.609
0.888
1.108
0.971
1.305
1.241
0.588
0.212
0.576
0.988
0.766
0.413
0.434
0.996
0.494
0.498
0.738
0.868
0.448
0.338
0.395
0.596
0.386
0.344
0.424
0.676
0,815
0.821
55.72
54.80
55.83
55,40
55.68
0.830
0.450
0.259
0.870
0.787
0.309
0.330
0.997
1.038
1.295
1.050
1.318
0.386
0.488
0.768
0.752
0.286
0.396
0.329
0.588
0.736
0.662
0.223
0.521
0.473
0.294
0.467
0.290
0.454
0.462
0.623
0.867
0.756
0.298
0.376
0.441
0.671
0.512
0.418
0.510
0.690
54.71
53.85
55.91
55.99
54.60
55.54
55.97
55.82
53.98
53.59
56.24
55.89
55.25
54.29
55.79
55.34
54.38
55.89
55.68
55,97
54.59
55.26
55.76
55.39
56.21
54.17
54.14
55.51
56.06
55.96
54.32
56.11
55.11
54.51
54.57
54.00
53.99
54.70
54.42
54.30
55.03
55.26
54.30
54.31
54.21
54.10
54.43
55.23
55.70
55.99
55.96
56.62
55.80
55.56
56.04
57.22
56.76
55.26
56.09
57.43
58.95
54.47
54.46
55.38
55.80
54.13
355.4
369.8
364.3
395.4
417.9
436.2
451.8
450.9
487.3
505.0
520.2
524.3
542,5
558.8
574.8
602.0
352.8
370.7
3135,7
404.4
420.6
442.6
4!i 2. 3
4I>0.2
4i)5.3
5X3.6
518.1
531.1
547.7
557,2
5B5.0
606.2
621.9
660.0
703.0
741.7
774.3
817.5
847.8
872.0
889.9
945.2
1002.2
990.4
999.3
1043.8
1095.9
1151.9
630.1
668.9
715,9
730.9
781.0
82S.1
852.1
867,3
900.6
970.9
1007.2
981.9
1010.9
1058.1
1116.3
1172.3
352.6
366.4
364.4
394.5
414.1
432.2
451.6
450.8
481.5
505.2
517.7
519.8
542.8
557.3
572.5
599.1
619.8
654.4
696.6
737.4
770.8
809.8
843.1
866.3
889.6
942.5
997,5
987.6
993.3
1040.3
1090.7
1145.2
0.777
0,238
0.489
0.957
1.012
1.114
0.312
0.699
0.713
0.608
0.250
0.517
0.411
0.330
0.447
0.676
0,208
0.599
0.919
1.261
0.672
0.370
0.726
0.748
0.434
0.327
0.475
0.330
0.398
0.434
0.438
0.559
0.777
1.090
0.996
1.191
1.223
0.611
0.490
0.635
0.886
0,663
0.314
0.390
0.535
0.741
0.445
0.381
0.925
1.082
0.974
1.307
1.206
0.497
O.!>02
0.742
0.870
0.459
0.333
Q.J1Q3
0.616
0.821
0.768
0.301
0.419
0.936
1.090
1,100
0.349
0.625
0.741
0.614
0.272
0.475
0.434
0.328
0.451
0,431
O.S28
0,754
1.080
1.002
1.170
1.274
0.692
0.491
0.633
0.873
0.659
0.306
0.390
0.518
0.738
AVERAGE FOR PERIOD
55.83
55.07
54.29
54.48
54.93
54.20
54.00
series contains revisions beginning with 1959. 2This series contains revisions beginning with 1975.
102
Annual
IV Q
AVERAGE FOR PERIOD
1.197
0.311
55.90
54.36
56.08
993,8
988.0
987.9
1034.4
1081,2
1135.5
1.092
0.906
0.706
55.40
889.1
931.6
0.997
0.303
0.744
0.746
0.566
0.272
0.497
0.398
0,344
0.436
0.671
54.21
IIIQ
2
0.882
0,653
0.867
0.595
56.42
517.8
511.9
545.1
0.751
0.188
0.612
0.296
0.395
0.482
56.35
54.24
55.49
55.46
55.44
55.60
53.57
54.83
414.0
427,8
454.0
445.5
477.3
503.6
558.6
568.9
597.6
561.5
90. RATIO , C I V I L I A N EMPLOYMENT TO TOTAL POPULATION OF WORKING A G E , LABOR FORCE SURVEY 2
(PERCENT)
1947...
1948...
1949...
347.6
365.4
363.5
388.4
0.802
0.235
0.536
0.908
0.487
0.636
0.885
0.689
0.617
II Q
AVERAGE FOR PERIOD
IN NEWSPAPERS TO NUMBER OF PERSONS UNEMPLOYED
(RATIO)
0.491
0.431
June
PERSONAL INCOME, TOTAL, IN 1972 DOLLARS
(ANNUAL, RATE, BILLIONS OF DOLLARS)
404.8
60.
1947...
1948...
1949.. .
1950...
1951...
1952...
1953...
1954...
1955.,,
1956...
1957...
1958...
1959...
1960...
1961...
1962.,,
356.6
357.0
363.2
387.9
May
55.19
55.96
55.97
56.07
56.61
55.66
55.70
56.19
57.36
56.44
55.23
56.24
57.81
59,08
56.15
56.20
56.68
55.54
55.74
56.39
57,32
56.06
55.29
56.30
57.96
59.06
53.99
54.26
54.61
55.33
55.54
55.74
56.34
56.57
53.76
54.74
55.78
54.01
54.15
54.25
54.15
54.67
54.96
55.45
SS.65
56.16
56.42
56.21
55.41
55.35
55.80
56.53
57.35
55.35
55.77
56.46
58.05
56.01
56.89
57.13
55.07
56,09
57,00
58,58
56.08
54.35
55.77
55.67
55.23
55.23
53.62
55.61
56.12
55.71
54.07
54.94
55.12
54.03
54.30
54.22
54.50
55.13
55.62
55.91
56.02
56.58
55.94
55,47
56.11
56.98
57.03
55.29
56.19
57.21
58.71
55,82
55.91
54.51
54.70
55.30
55.75
55.46
55.37
53.82
55.78
55.66
SS.5S
54.53
53,75
§5.96
55.92
55.26
55.11
S6.05
55.68
54.31
54.18
54,82
54.82
54,95
54.71
54.11
54.10
54,18
54.24
54.21
54.14
54.45
55.27
55.82
S6.04
56.08
56.64
55,67
55.67
54.47
54.99
53.55
55.79
56.00
56.49
56.10
56.21
55.47
56.03
56.92
56.98
55.24
56.06
57.73
59.1D3
58.59
56.21
57.30
56,42
55.26
57.10
(FEBRUARY 1980)
C. Historical Data for Selected Series—Continued
Quarterly
Monthly
Annual
Year
Feb.
Jan.
340.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
IQ
II Q
AVERAGE HOURLY EARNINGS, PRODUCTION WORKERS IN PRIVATE NONFARM ECONOMY
(INDEX: 1967=100}
III Q
IV Q
AVERAGE FOR PERIOD
1947. . .
1948...
1949...
1950...
1951...
1952. . .
1953. . .
1954...
1955...
1956...
1957. . .
1958. . .
1959. . .
1960...
1961...
1962...
42.6
46.0
48.2
50.0
53.7
56.4
59.6
61.7
63.7
67.0
70.3
73.2
75.8
78.4
80.8
83,5
1963...
1964.
1965.
1966.
1967.
1968.
1969.
1970.
1971.
1972.
1973.
1974.
1975.
1976.
1977.
1978.
1979.
87.1
89.7
93.4
97.7
103.1
109.7
117.0
125.5
134.3
142.2
151.1
165.0
177.3
191.0
205.9
87.2
90.0
93.6
98.1
103.6
110.3
117.6
126.3
134.7
142.6
152.0
166.2
178.3
191.9
206.6
340-C
87.4
90.3
93.9
98.4
104.2
111.0
118.4
126.8
135.4
143.3
153.0
167.8
179.1
192.9
208.1
87.6
90.4
94.5
98.9
104.6
111.5
118.8
127.6
136.3
144.4
154.1
167.9
180.3
194.2
210.1
87.8
90.9
94.7
99.1
105.2
112.2
119.5
128.5
136.6
144.7
155.8
169.1
181.6
195.5
211.1
87.9
91.1
95.2
99.7
105.8
112.9
120.2
129.0
136.9
145.6
157.7
170.7
182.2
196.4
212.4
88.2
91.3
95.3
100.3
106.3
113.4
121.0
129.7
137.8
146.5
158.2
171.3
183.4
197.8
214.0
88.6
91.6
95.6
100.4
106.8
114.0
122.0
130.5
138.3
146.8
159.6
172.7
185.3
198.5
214.9
88.8
91.9
96.1
100.9
107.5
114.6
122.6
130.8
138.9
148.2
161.2
173.3
186.2
199.7
216.5
88.9
92.3
96.5
101.4
108.0
115.4
122.9
131.1
140.0
148.8
162.2
174.3
187.1
201.4
218.1
89.3
92.5
96.9
101.8
108.6
116.2
123.7
131.4
140.4
149.5
163.1
175.8
188.5
202.5
219.2
89.6
92.7
97.2
102.4
109.3
116.5
124.3
133.1
141.5
150.6
164.5
176.3
189.5
203.6
220.9
87.2
90.0
93.6
98.1
103.6
110.3
117.7
126.2
134.8
142.7
152.0
166.3
178.2
191.9
206.9
87.8
90.8
94.8
99.2
105.2
112.2
119.5
128.4
136.6
144.9
155.9
169.2
181.4
195.4
211.2
CHANGE IN INDEX OF AVERAGE HOURLY EARNINGS OVER 1-MONTH SPANS
(MONTHLY RATE, PERCENT)
88.5
91.6
95.7
100.5
106.9
114.0
121.9
130.3
138.3
147.2
159.7
172.4
185.0
198.7
215.1
89.3
92.5
96.9
101.9
108.6
116.0
123.6
131.9
140.6
149.6
163.3
175.5
188.4
202.5
219.4
85.9
88.2
91.2
95.3
100.0
106.2
113.2
120.7
129.2
137.5
146.0
157.5
170.6
183.0
196.8
212.9
AVERAGE FOR PERIOD
1947. . .
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.
0.1
0.3
0.2
0.4
0.5
0.5
0.5
0.6
0.3
0.3
0.6
0.7
0.6
0.5
0.3
0.1
0.8
0.5
0.7
0.4
0.4
1.0
0.9
0.5
0.3
0.3
0.6
0.8
1.1
340-C
0.2
0.3
0.3
0.3
0.6
0.6
0.7
0.4
0.5
0.5
0.7
1.0
0.4
0.5
0.7
0.2
0.1
0.6
0.5
0.4
0.5
0.3
0.6
0.7
0.8
0.7
0.1
0.7
0.7
1.0
0.2
0.6
0.2
0.2
0.6
0.6
0.6
0.7
0.2
0.2
1.1
0.7
0.7
0.7
0.5
0.1
0.2
0.5
0.6
0.6
0.6
0.6
0.4
0.2
0.6
1.2
0.9
0.3
0.5
0.6
0.3
0.2
0.1
0.6
0.5
0.4
0.7
0.5
0.7
0.6
0.3
0.4
0.7
0.7
0.8
0.5
0.3
0.3
0.1
0.5
0.5
0.8
0.6
0.4
0.2
0.9
0.8
1.0
0.4
0.4
0.2
0.3
0.5
0.5
0.7
0.5
0.5
0.2
0.4
1.0
1.0
0.3
0.5
0.6
0.7
0.1
0.4
0.4
0.5
0.5
0.7
0.2
0.2
0.8
0.4
0.6
0.6
0.5
0.9
0.7
0.4
0.2
0.4
0.4
0.6
0.7
0.7
0.2
0.3
0.5
0.6
0.9
0.7
0.5
0.5
0.3
0.2
0.3
0.6
0.6
0.3
0.5
1.3
0.8
0.7
0.9
0.3
0.5
0.5
0.8
0*.2
0.4
0.4
0.6
0.5
0.5
0.7
0.6
0.4
0.5
0.7
0.5
0.6
0.7
CHANGE IN INDEX OF AVERAGE HOURLY EARNINGS OVER 6-MONTH SPANS
(COMPOUND ANNUAL RATE, PERCENT)
0.2
0.3
0.4
0.4
0.5
0.6
0.5
0.6
0.4
0.5
1.0
0.6
0.6
0.6
0.7
0.3
0.3
0.3
0.4
0.6
0.5
0.7
0.4
0.5
0.6
0.7
0.5
0.7
0.6
0.6
0.3
0.3
0.4
0.5
0.6
0.6
0.5
0.6
0.6
0.5
0.7
0.6
0.6
0.6
0.7
0.3
0.4
0.4
0.6
0.5
0.5
0.6
0.5
0.5
0.7
0.6
0.6
0.6
0.7
AVERAGE FOR PERIOD
1947. . .
1949. . .
1952. . .
1954.. .
1955. . .
1956. .
1959. . .
1962. . .
1963...
1965.
1966.
1967.
1968.
1969.
1970.
1971.
1972.
1973.
1974.
1975.
1976.
1977.
1978.
1979.
3.4
4.7
5.0
6.5
6.5
5.9
7.8
8.0
6.4
7.3
3.6
5.0
4.7
6.7
5.1
6.8
5.3
6.2
4.9
6.3
5.1
6.5
5.9
8.0
8.1
6.2
8.7
6.6
7.7
5.9
6.0
9.8
6.8
5.2
6.2
9.7
6.7
6.4
5.6
6.9
11.0
6.2
10.8
6.8
9.5
6.9
8.7
7.0
7.8
8.8
6.7
6.8
7.0
6.0
10.2
8.0
8.0
8.0
7.7
7.7
8.1
8.7
8.9
8.0
8.2
8.3
7.7
7.9
8.2
i't
4.9
6.6
NOTE: These series contain revisions beginning w i t h 1972.
employment shifts.
4.3
5.1
3.8
4.4
5.3
4.5
5.1
6.4
6.9
7.0
5.5
6.0
6.6
9.7
6.6
7.3
7.0
6.4
6.8
8.5
7.7
8.5
8.4
3.3
6.5
6.4
8.8
6.3
7.2
8.4
6.4
6.7
8.3
7.3
6.2
8.6
6.8
7.2
6.6
5.3
6.4
10.3
8.5
8.4
8.2
7.3
8.4
8.7
7.3
6.8
7.7
7.8
8.2
8.8
8.2
7.9
These series are adjusted for overtime (in manufacturing only) and interindustry
3.8
4.7
5.4
6.5
6.7
6.9
6.7
6.2
6.5
9.3
7.3
7.5
7.7
8.3
(FEBRUARY 1980)
103
C. Historical Data for Selected Series—Continued
Quarterly
Monthly
Annual
Year
Jan.
341.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
Id
REAL AVERAGE HOURLY EARNINGS, PRODUCTION WORKERS IN PRIVATE NONFARM ECONOMY
( I N D E X : 1967=100)
II Q
III Q
IVQ
AVERAGE FOR PERIOD
...
...
...
95.3
96.8
97.9
100.1
102.0
103.1
104.2
106.9
110.0
109.6
106.7
106.1
107.8
108.5
109.0
95.6
97.3
1957
94.0
95.8
97.8
99.0
101.0
102.7
103.1
105.2
108.9
111.1
108.0
105.3
106.0
108.6
109.7
1964.
1965.
1966.
1967.
1968.
1969.
1970.
1971.
1972.
1973.
1974.
1975.
1976.
1977.
1978.
1979.
94.2
96.1
97.4
99.2
101.2
102.9
103.1
105.7
108,7
110,3
107.3
105.5
106,5
108.1
109.4
94.4
96.4
97.5
99.5
101.4
102.7
103.3
105.9
109.1
110.4
106.9
106.0
106.7
108.0
109.4
94.5
96.2
97.7
99.8
101.5
102.5
103.1
106.2
109.6
110.4
107.8
105.8
107.1
108.2
109.7
94.6
96.5
97.8
99,8
101.7
103.0
103.3
106.4
109,6
109.8
107.0
106.2
107.5
108.4
109.3
94.7
96.3
98.1
100.0
101.9
103.0
103.5
106,3
109.5
110.0
107.4
106.5
107.4
108.3
109.0
95.0
96.5
98.0
100.3
101.8
103.0
103.8
106.5
109.8
110.6
107.0
105.9
107.5
108.5
109.1
95.4
97.0
97,7
100.0
101.9
103.0
104.4
107,0
110.0
108.8
106.6
106.4
108.0
106.5
108.9
95.4
97,0
98.1
100.1
102.2
103.2
104.3
107.1
110.1
109.4
106.4
106.0
108.0
108.6
108.9
95.4
97.4
98.1
100.3
102.2
103.4
104.1
107.1
110.6
109.1
106.1
105,9
108.0
109.2
108.6
95.6
97.3
98.5
100.4
102.3
103.5
104.4
107.2
110.6
108.7
105,7
106.1
108.4
109,1
108.5
95.8
97.2
98.7
100.7
102.6
103.2
104.4
108.1
111.1
108.7
105.7
105.8
108.5
109.1
108.6
94.2
96.1
97.6
99.2
101.2
102.8
103,2
105.6
108.9
110,6
107.4
105.6
106.4
108.2
109.5
341-C. CHANGE IN INDEX OF REAL AVERAGE HOURLY EARNINGS OVER 1-MONTH SPANS
(MONTHLY RATE, P E R C E N T )
94,6
96.3
97.9
99.9
101.7
102.8
103.3
106,3
109.6
110.1
107.1
106.2
107.3
108.3
109.3
<>8.4
100.5
102.4
103.4
104.3
107.5
110.8
108.8
105.8
1C5.9
1C 8. 3
109.1
108.6
63.7
63.8
67.5
69.3
69.0
70.9
74.4
76.6
79.4
82.3
83.4
84.5
86.8
88.4
90.2
92.2
93.7
94.7
96.9
98.0
100.0
101.9
103.1
103.8
106.5
109.7
109.7
106.7
105.9
107.3
108.4
109.0
AVERAGE FOR PERIOD
1947
1948, . .
1949. , .
1950
19S1. . .
1952..,
1953
1954 , . .
1955 . . .
...
...
0.1
0.0
0.2
0.2
0.2
0.1
0.1
0.1
0,1
-0.1
0.2
0.2
0,2
0.1
-0.1
0.2
0.2
0.0
0.0
0.1
0.1
0.3
0.3
0.2
-0.2
-0,3
-0.2
0.2
0.1
0.0
1956...
1957. . .
1958 . . .
1959...
1960
1961, . ,
1962, , .
1963, , .
1964.
1965.
1966.
1967,
1968.
1969.
1970.
1971.
1972.
1973.
1974.
1975,
1976.
1977.
1978.
1979.
0.0
0.6
0.3
0.3
0.1
-0.1
0.8
0,7
0.0
-0.6
«0.4
0.2
0.1
0.5
0.2
0.3
-0.4
0.2
0.2
0.2
0.0
0.5
-0.2
-0.7
-0.6
0.2
0.5
-o.s
-0.3
0.2
0.3
0.1
0.3
0.2
-0.2
0.2
0.2
0.4
0.1
-0.4
0,5
0.2
-0.1
0.0
0.1
-0.2
0.2
0.3
0.1
-0.2
-0.2
0,3
0.5
0.0
0.1
-0.2
0.4
0.2
0.3
0.1
0.3
0.1
0.0
0.2
0.5
0.2
0.2
0.0
-0.5
0.0
0.4
0.4
0.2
-0.4
0.1
-0.2
0.3
0.2
0,2
0.0
0.2
-0.1
-0.1
0.2
0.4
0.3
-0.1
-0.1
-0.3
0.3
0.2
-0.1
0.3
-0.1
0.0
0,3
0.2
0.3
0.5
-0.4
-0.6
0.1
0.2
0.1
0.4
0.5
-0.3
-0,3
0.1
0.0
0.6
0.5
0.2
-1.6
-0.4
0.5
0.5
0.0
-0.2
0.0
0.0
0.4
0,1
0.3
0.2
-0.1
0.1
0.1
0.6
-0.2
-0,4
0.0
0.1
0.0
0.0
0.4
0,0
0.2
0.0
0.2
-0.2
0.0
0.5
-0.3
-0.3
-0.1
0.0
0.6
-0.3
0.2
-0.1
0.4
0.1
0.1
0.1
0.3
0.1
0.0
-0.4
-0.4
0.2
0.4
-0.1
-0.1
0.2
-0.1
0.2
0.3
0.3
-0.3
0.0
0.8
0.5
0.0
0.0
-0.3
0.1
0.0
0.1
6 '.2
0.1
0.3
0.2
0.0
0.0
0.5
0.3
-0.2
-0.5
0.1
0.3
-0.2
0.1
341-C. CHANGE IN INDEX OF REAL AVERAGE HOURLY EARNINGS OVER 6-MONTH SPANS
(COMPOUND ANNUAL RATE, P E R C E N T )
0.1
0.1
0.2
0.2
0.1
0.0
0.0
0.3
0.3
-CI.2
-0.2
-0.1
0.2
G.2
-C.I
0.1
0.1
0,2
0.2
0.0
0.1
0.3
0.2
-0.2
-0.2
0.0
0.2
0.0
0.0
AVERAGE FOR PERIOD
1947...
1948..,
1949,
.,
1950...
19S1., .
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.
1.7
0.6
3.5
2.4
0.7
-0.6
4.1
4.6
-0.5
-3.7
-0.5
2.3
0.3
0.9
1.9
0,9
2.8
2.6
1.3
-0.4
3.9
4.5
-1.4
-3.1
1.0
2.6
0.0
0.4
1.2
1.9
2.0
1.4
0.4
2.5
1.8
0,7
2.1
1.3
1.1
2.6
0.8
0.8
3.7
2.7
-2.0
-2.5
1.6
3.1
-0.3
-0.1
1.6
0.7
1.5
2,6
1.7
-1.1
-1.8
1.1
2.9
-0.1
-1.1
1.5
0.3
2.6
2.4
2.4
-2.6
-1.2
1.6
2.9
0.7
-0.9
1.6
1.0
1.9
2.3
1.8
-1.7
-1.0
-0.1
2.4
1.1
-1.0
NOTE: These series contain revisions beginning with 1972.
employment shifts.
1U4
1.9
2.5
0.8
1.0
1.4
1.7
1.9
1.8
2.0
-2.4
-1.7
0.1
1.7
1.9
-1.9
2.1
1.7
1.4
1.2
1.1
1.1
2.1
1.5
1.9
-2.0
-2.5
-0.3
1.7
1,4
-1.4
2.3
1.8
1.3
1.3
1.4
0.2
1.6
3.5
2.9
-2.3
-3.1
-1.5
2,0
1.4
-0.9
1.8
2.8
2.0
1.5
1.7
0.0
2.6
4.5
2.4
-4.6
-3.2
0.3
2.0
2.2
-1.4
1.4
0.8
3.0
2.4
1.9
0.1
2.4
3.3
0.5
-2.9
-2.1
0.3
0.1
1.6
-2.0
2.1
1.1
2.8
2.7
0.9
0,3
3.0
3.9
0.6
-4.5
-0.7
1.3
0.1
1.4
-2.9
i'.e
1.1
3.0
2.5
0.9
-0.1
3,9
3.9
-1.3
-3.1
0.7
2.7
0.0
0.4
These series are adjusted for overtime (in manufacturing only) and interindustry
2.2
1.5
0.7
1.8
1.6
0.7
2.0
2.4
2.0
-1.8
-1.3
0.9
2.7
0.6
-1.0
2.1
2.0
1.2
1.2
1.3
1.0
1.9
2.3
2.3
-2.2
-2.4
-0.6
1.8
1.6
-1.4
1.8
1.6
2,,6
2 ,,2
1.5
oa
2 .7
3. ,9
1.2
-4.0
-2.0
0.6
0.7
1.7
-2.1
1.7
1.4
2.0
1.7
0.7
1.6
3.1
2.3
-2.3
-2.2
0.4
2.0
1.0
-1,0
(FEBRUARY 1980)
G. Experimental Data and Analyses
(Nov.)
P
Year
and
quarter
Implicit price
deflator, gross
nonfarm business
product 1
(Index: 1967=100)
Unit labor cost,
all persons, nonfarm
business sector 1
111 M 111111j M M M IIIIIIIII
Components of BCD series
(Index: 1967=100)
1977
I Q....
II Q . . .
Ill Q . .
IV Q . . .
(Mar.)
T
169.8
173.6
176.2
178.3
175.4
179.0
180.9
184.7
180.2
184.7
187.8
191 A
190,2
192.7
195.6
199.3
195.1
200.3
204.7
r208.6
206.0
212.1
217.3
r221.8
Implicit price deflator,
business product, Q
(index 1967-100)
1978
I Q...,
II Q . . .
Ill Q . .
IV Q . . .
cost, all persons
sector, Q
1967=100)
1979
I Q....
II Q . . .
Ill Q . .
IV Q . . .
Inventory-sales ratios in 1972 dollars 2
Year
and
month
Manufacturing
(Ratio)
Merchant
wholesalers
(Ratio)
Inventory-sales ratios in 1972 dolars (ratio)
Retail trade
(Ratio)
1978
Jan.
Feb.
Mar.
Apr.
May.
June
1 .84
1.80
1.78
1.75
1.77
1 .78
1.32
1.31
1.33
1.31
1.28
1.31
1.40
1.38
1.38
1.37
1.39
1.39
July
Aug.
Sept
Oct.
Nov.
Dec.
1.81
1.77
1.78
1.76
1.76
1.75
1.29
1.27
1.30
1.27
1 .29
1.31
1.40
1.39
1.39
1.38
1.38
1.35
Merchant wholesalers
1979
Jan.
Feb.
Mar.
Apr.
May.
June
1.76
1.78
1.72
1.86
1.78
1 .84
1.33
1.35
1.30
1.33
1.30
1.31
July
Aug.
Sept
Oct.
Nov.
Dec.
1.84
1.86
1.87
1.87
1.91
pi. 92
1.31
1.31
1.31
1.30
1.29
pi. 29
1.39
1.38
1.38
1.41
1.42
1.45
1.46
1.42
1.37
1.41
rl.39
pi. 37
ll Miii-iifni in i
1967 1968 1969 1970 1971 1972 1973 1974 1975 1976 1977 1978 1979 1980
NOTE: The 'V 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.
105
G. Experimental Data and Analyses—Continued
Net Contributions of Individual Components to the Leading, Roughly Coincident, and Lagging Composite Indexes
Net contribution to index
Basic data
(and
Series title
unit of measure)
LEADING INDICATORS
1. Average workweek, production workers,
manufacturing (hours)
.
3. Layoff rate, manufacturing1
(per TOO employees)
8. New orders for consumer goods and materials
in 1972 dollars (billion dollars)
32. Vendor performance, companies reporting
slower del i veries (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 do!., smoothed2 (ann. rate, bil. dol . ) .
92. Change in sensitive 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 nonagri cultural payrolls
(thousands)
51. Personal income less transfers in 1972
dollars (annual rate, billion dollars). . . .
47. Industrial production, total
(index: 1967=100)
57. Manufacturing and trade sales in 1972
dollars (million dollars)
920. Composite index of 4 roughly coincident
indicators3 (index: 1967=100)
LAGGING INDICATORS
91. Average duration of unemployment1
(weeks)
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 debt to
personal income (percent)
930. Composite index of 6 lagging indicators 3
(index: 1967=100)
Oct.
1979
Dec.
1979
Nov.
1979
Oct.
to
Nov.
1979
Jan.
1980
Nov.
to
Dec.
1979
Dec.
to
Jan.
1980
p40.4
-0.08
0.18
1.2
pi. 3
-0.20
0.11
r34.84
r34.54
P35.86
-0.21
50
47
49
48
-0.11
r!33.5
e!31.3
NA
NA
-0.24
13.53
r!4.48
r!5.65
P14.58
0.16
0.19
124.6
102.0
rlOO.5
102.1
-0.59
-0.05
0.06
r-3.91
r-9.09
p-8.88
NA
-0.33
0.01
NA
r2.21
r2.51
r2.56
2.52
0.13
0.02
-0.02
104.47
103.66
107.78
110.87
-0.05
0.26
0.21
rO.96
rO.86
rO.66
eo.56
-0.32
-0.70
-0.39
524.6
522.3
518.3
6512.1
-0.19
-0.35
-0.61
r!38.9
r!36.3
r!36.0
P135.1
-1.87
-0.22
-0.66
89,982
r90,100
r90,231
p90,536
0.10
0.11
0.35
rl,023.5
rl, 029.1
rl,030.9
pi, 0 2 0 . 2
0.27
0.09
-0.66
152.2
r!52.1
r!52.3
P152.7
-0.02
0.04
0.09
r!59,774
r!58f208
p!58,090
NA
-0.21
-0.02
NA
r!44.9
r!44.8
r!44.9
P144.3
-0.07
0.07
-0.41
-0.06
0.06
0.0
-0.01
-0.09
40.2
40.1
1.1
1.3
36.27
10.5
10.6
40.3
10.5
10.5
-0.05
0.08
NA
0.10
-0.12
0.23
-0.04
NA
-0.19
r258.18
•r258.12
P257.65
NA
178.4
r!79.7
r!81.7
P182.4
0.23
0.35
0.18
14.39
15.55
15.30
15.25
2.26
-0.49
-0.15
r!55,971
r!54,213
r!54,592
p!58,157
-0.25
0.05
0.76
rl5.ll
r!5.06
p!4,99
NA
-0.17
-0.24
NA
r!75.9
r!79.1
r!78.2
P179.3
-0.50
0.62
1.82
NA
NOTE: The net contribution of an individual component is that component's share in the composite movement of the group. It
is computed by dividing the standardized and weighted change for the component by the sum of the weights for the available components and dividing that result by the index standardization factor. See the March 1979 BUSINESS CONDITIONS DIGEST (pp. 106107) for weights and standardization factors. NA, not available, p, preliminary, r, revised, e, estimated.
x
This
3
This
3
series is inverted in computing the composite index; i.e., a decrease in this series is considered an upward movement.
series is a weighted 4-term moving average (with weights 1,2,2,1) placed at the terminal month of the span.
Figures in the net contribution columns are percent changes in the index. The percent change is equal (except for rounding
differences) to the sum of the individual components1 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).
106
G. Experimental Data and Analyses—Continued
Cyclical Comparisons: Current and Selected Historical Patterns
Deviations
from
reference
peaks
19. Index of stock prices
Actual
data
for
current
cycle
mi
SERtES .19
19ftl-ft3=»10
98.23
100.11
?/79
3/79
ft 9 0.0
50
-2.3
-0.3
51
52
0.7
102.07
99.73
101.73
102.71
ft/ 7 9
5/79
6/79
7/79
5.2
6.1*
2.1*
1.6
107.36
108.60
10ft. 1*7
103.66
8/79
9/79
10/79
11/79
107.78
110.87
116.88
12/79
1/80
2/80
1*7
1*8
Percent
+75
• 160
1958
MONTHS DFVIFROM ATIOHS CURRENT MONTH
RP.F.
AMP
FROM ACTUAL
TROUGH 11/73
DATA YEAR
+50
• 140
+25
• 120
53
51*
55
56
5.6
57
8.7
58
11*. 6
59
MONTHS DEVIFROM ATIONS
FROM
SPEC.
TROUC-H 12/7*
-1 -50
• 80
104. Change in total liquid assets, smoothed
Actual
data
for
current
cycle
+ 80 9120
+70
i no
+60
12/74
+50 • loo
+40
• 90
+30
+20 • go
98.23
100.11
102.07
2/79
3/73
ft/79
53
5ft
55
56
1*8.7
51.7
53.1
60.1
99.73
101.73
102.71
107.36
5/79
6/79
7/79
8/79
57
58
59
60
61.9
55.8
5ft.6
60.7
108.60
10ft.1*7
103.66
107.78
9/79
10/79
11/79
12/79
65.3
7ft.3
110.87
116.88
1/80
2/80
1*6
ft7
ft8
Deviations
from
specific
troughs
Percent
CURRENT MONTH
AMO
ACTUAL
DATA YEAR
50 ft6.5
51
1*9.3
52 52.2
61
62
MONTHS
FROM
RF.F.
TROUGH
l
19. Index of stock prices
full
SERIES 19
19ftl-ft3=10
• 100
-25
-3.7
-1.9
I M l | l l l l l | l l l l l | I I M I | l l l l M | l l l l | I l l l f l l l l l l l l l l l l f 11IMM
+10
• 7Q
0
-10 • 60
104. Change in total liquid assets, smoothed1
CURRENT MONTH
AMD
ACTUAL
PATA YEAR
Actual
+1.2
SERIES 10ft
PERCENT
0.96
0.85
0.81
1/79
2/79
3/79
ft/79
5/79
6/79
7/79
• 1.6
8/69
+1-0
+1.2
1*9
50
51
52
0.9ft
1.06
1.10
1.05
+1.0
53
5ft
55
56
0.96 8 / 7 9
0.96 9 / 7 9
0.96 10/79
0.86 11/79
+0-8
+0.6
+0.8
• 1.2
57
0.66 12/79
0.56 1/80
58
MONTHS •DEVIFROM ATIONS CURRENT MONTH
FROM ACTUAL ' A N D
SPEC.
DATA YFAR
TROtinH •1/75
SERIES 10ft 1
PERCENT
0.96
O.ft9
1*8
+0-2
ft9
0.38
50
0.3ft
51
O.ft7
52 0 . 5 9
0.85
0.81
0.9ft
1.06
53 0.63
5ft 0 . 5 8
55
O.ft9
56
O.ft9
1.10
6/79
1.05 7 / 7 9
0.96 8 / 7 9
0.96 9 / 7 9
0.1*9
0.39
0.19
0.09
0.96
0.86
0.66
0.56
+0.6
• i.o
+0.4
+0.4
57
58
59
60
-6
• 1.4
1/79
2/79
3/79
ft/79
5/79
+ 0.2
• 0.6
0.0
• 0,4
10/79
11/79
12/79
1/80
0 +6 +12+18 +24 +30 +36 +42 + 48+54
Months from reference troughs
+ 6 +12 +18 +24 +30 +36+42
+48 +54+60
Months from specific troughs
NOTE- For an explanation of these charts, see "How to Read Charts" on p. 106 of the December 1979 issue.
'-This series is a weighted 4-term moving average (with weights 1,2,2,1) placed on the terminal month of the span.
107
G. Experimental Data and Analyses—Continued
Cyclical Comparisons: Current and Selected Historical Patterns-Continued
Dtviitions
from
41. Employees on nonagricultural payrolls
ref.
Actual
data
for
current
cycte_
MOMTHS OEVIFROM ATinNS CURRENT MONTH
Ann
PROM ACTUAL
11/73
HATA YEAR
46
47
48
SPRIGS 41
THOUSANDS
1/79
88433
13.6
2/79
88700
13.9
89039
3/79
14.3
49
50
51
52
14.3
14.8
15.1
15.2
89036
89398
89626
89713
53
54
55
56
15.3
15.3
15.6
15.7
89762
89803
89982
90100
41. Employees on nonagricultural payrolls
Deviations
from
sptc.
t trough
Actual
fcti
for
current
jcycle
R»rc«nt
n +20
4/79
5/79
6/79
7/79
418 •90,000
8/79
9/79
10/79
11/79
416
•88,000
12/79
90231
57
15.9
1/30
58
16.3 90536
MOUTHS nrviFROM ATIONS CURRENT MONTH
AND
SPEC.
FROM ACTUAL
4/75
DATA YEAR
TROl'ftH
414
• 86,000
412
SERIES 41
THOUSANDS
• 76,000
-I
-4
45
46
47
48
15.9
16.2
16.7
16.7
88433
88700
89039
80036
1/79
2/79
3/79
4/79
49
50
51
52
17.1
17.4
17.6
17.6
89398
89G26
89713
89762
5/79
6/79
7/79
8/79
53
54
55
56
17.7
17.9
18.1
18.2
89803
89982
90100
90231
9/79
10/79
11/79
12/79
57
48
• 82,000
46
5/58
• 80,000
1/80
18.6 90536
MONTHS
FROM
RFF.
TROUHH
984,000
44
C U R R R N T MONTH
Ann
ACTUAL
DATA Y E A R
SFRIFS
42
• 78,000
43
PERCENT
43. Unemployment
rate, total (inverted)
'
46
47
48
5.8
5.7
5.7
1/79
2/79
3/79
49
50
51
52
5.8
5.8
5.7
5.7
4/79
5/79
fi/79
7/79
53
54
55
56
5.9 8/79
5.8 9/79
5.9 10/79
5.8 11/79
57
58
5.9 12/79
6.2 1/80
•76,000
43. Unemployment rate, total (inverted)
luPI
i
Actual
-4
7/58
-3 .6
-2 97
MONTHS D E V I FROM A T I O N S C U R R E N T MOUTH
ANn
SPFfV FROM ACTUAL
TROunn
5/75
DATA YEAR
SERIES <43
PERCENT
-3.2
5.8
-J
+9
1/79
45
46
47
48
-3.3
-3.3
-3.2
-3.2
5.7
5.7
5.8
5.8
2/79
3/79
4/79
5/79
49
50
51
52
-3.3
-3.5
-3.1
-3.2
5.7
5.7
5.9
5.8
6/79
7/79
8/79
9/79
55
54
55
56
-5.1
-3.2
-3.1
-2.8
Months from reference troughs
For an explanation of these charts, see "How to Read Charts" on p. 106 of the December 1979 issue.
108
42 •!!
5.9 10/79
5.8 11/79
5.9 12/79
6.2 1/80
0 + 6 + 1 2 +18 424 4-30 +36 +42 +48 +54
NOTE:
*5
5/75
43 «12
0
+6
+12+18 424 430 436 +42 +48 454
.Months from specific troughs
Q. Experimental Data and Analyses—Continued
Cyclical Comparisons: Current and Selected Historical Patterns—Continued
1111 M 11 n n 111 n 11 n i r 1 1 1 1 1 1 1 1 1 1 1 1 ) 111 n > 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 Actual
MONTHS
FROM
REF.
TROUfiH
data
(percent)
90. Ratio, civilian employment to total population,
working age
M
-i 60
- 59
CURRENT MOUTH
ACTUAL
ANP
DATA YEAR
46
47
4C
SERIES 90
PERCENT
59.19
59.33
59.31
1/79
2/79
3/79
49
50
51
52
59.05
59.11
59.13
59.37
4/79
5/79
6/79
7/79
53
54
55
5S
59.19
8/79
90. Ratio, civilian employment to total
population, working age
Deviations
from
specific
troughs
Actual
data
for
current
cycle
Actual
1+4.15 *59.5
+ 4.0 *59.0
5 9 . 4 2 9/79
59.27 1 0 / 7 9
59.27 11/79
+3-i5 *58.5
6/75
59.38 12/79
5 9 . 2 U 1/80
+3.0
*58.0
MOUTHS DEVIFROM ATIONS CURRENT MONTH
AMP
PROM ACTUAL
SPFC.
DATA YEAR
6/75
TROUGH
+2.5
«|57.5
57
58
43
44
S E R I E S 90
PERCH I IT
4.20
59.19
if.34
59.33
45 4 . 3 2
If 6 4 . 0 6
47
I*.12
62. Labor cost per unit of output, manufacturing
|| Deviations
torn
reference
peaks
Actual
data
for
current
'cycle
Percent
—
+55
+50
• 180
48
4.14
49 4.33
50
4.20
51 4 . 4 3
1/79
2/79
+1.5 •156.5
59.31
59.05
59.11
59.13
3/79
4/79
5/79
6/79
52 4 . 2 8
59.37 7/79
59,19 8/79
59.42 9/79
59,27 10/79
53 4 . 2 8
54 4 . 3 9
55 4 . 2 5
59.27 11/79
59.38 12/79
59.24 1/80
MONTHS
FROM
REF.
TROUGH
+1.0 456.0
+0.5 *55.5
0-0 *55.0
PEVI-
ATions
FROM
11/73
CURRENT MONTH
ANn
ACTUAL
PATA YEAR
+45
SERIES 62
1967=100
• 170
+40
+35
• 160
+30
+25 *150
+20
• 140
46
47
48
42.8
43.8
43.9
170.6
171.8
172.0
1/79
2/79
3/79
49
50
51
52
4G.6
45.0
45.6
46.4
175.2
173.3
174.0
175.0
4/79
5/79
6/79
7/79
53
54
55
'56
47. G
47.9
49.3
50.4
176.4
176.7
178.4
179.7
8/79
9/79
10/79
11/79
57
58
52.1
52.6
181.7
182.4
12/79
1/80
+5
l i n n 1 1 1 1 1 1 1 1 1 n 1 1 1 1 1 1 1 1 1 1 1 1 1 1 n 1 1 1 1 1 1 1 1 1 1 1 1 n 1111 L 1 1 1 1 1 1 1 1 1 1 1 1
-6
0 + 6 +12 +18 +24+30 +36 +42 +48 +54*
• 130
+35
+30
H80
+20
MONTHS DEVIF ROM ATIONS CURRENT MONTH
AND
FROM ACTUAL
SPEC.
PATA YEAR
TROUGH -T9/75
41
42
43
44
SERIES 62
1967=100
171.8
22.7
22.9
172.0
25.1
175.2
173.3
23.8
45 24.3
46 25.0
47 26.0
48 26.2
49
50
51
52
27.4
28.4
29.8
30.3
174.0
175.0
176.4
176.7
+15
•1160
•1150
+5
6/79
7/79
8/79
9/79
178.4
10/79
179.7 11/79
181.7 12/79
182.4 1/80
•H70
+10
2/79
3/79
4/79
5/79
Months from reference troughs
NOTE:
Percent
+25
+15
+10
62. Labor cost per unit of output,
manufacturing
0 •140
t miliitimmilii t m i i i i i l m i i l i i i i m i i i i l i i i n U
0
+6
+12 +18 +24 +30 +36 +42 +48 +54
.Months from specific troughs
For an explanation of these charts, see "How to Read Charts" on p. 106 of the December 1979 issue.
109
ALPHABETICAL INDEX-SERIES FINDING GUIDE
Series titles
(See complete titles in "Titles and Sources of
Series," following this index)
Current issue
{page numbers)
Series
number
Charts
Tables
Historical
Series
data
descriptions
(issue date! (issue date)
A
16
56
61
92
2/80
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
2/79 '
2/79
8/78
2/79
2/79
2/79
2/79
2/79
2/79
2/79
2/79
55
616
22
56
65
92
9/79
Accession rote manufacturing
2
Agricultural products exports
«
604
Anticipations and intent ions
Business expenditures, new plant and equipment
61
Business expenditures, new plant and equipment, Dl . . 970
Consumer sentiment index
56
Employees, manufacturing and trade, Dl
974
Inventories manufacturing and trade 01
975
New orders manufacturing Dl
971
Prices sell i no manufacturing Dl
976
Prices selling wholesale trade 01
Profits fl8t manufacturing and trods Dl
Sales not manufacturing and trade Dl
Automobiles
Expenditures persons! consumption
Imports of automobiles and parts
8/68
12/78
11/68
11/68*
11/68*
11/68*
11/68*
11/68*
11/68*
11/68*
11/68*
11/68*
11/68*
'
10/69*
12/78
B
Balance of payments-See International transactions.
Bank loans to businesses, net change
Bank rates-See Interest rates.
Bank reserves
Free reserves
Member bank borrowing from Federal Reserve
Bonds-See Interest rates.
Borrowing -See Credit.
Budget -See Government.
Building-See Construction.
Business equipment, industrial production
Business expenditures, new plant and equipment, Dl
Business failures current liabilities
Business formation
Business incorporations
Business inventories-See Inventories.
Business loans-See Bank loans.
Business saving
.
—
15,35
32
73
72
6/79
6/79
11/72
11/72
93
94
33
33
72
72
12/78
11/72
8/79
Consumer installment debt
Debt outstanding
Net change
Ratio to personal income
Consumer installment loans, delinquency rate
4/69
Consumer prices-See also International comparisons.
All items, index
1 1 /fifl
All items, percent changes
11/68*
Food, index
Food, percent changes
Consumer sentiment index
Consumption expenditures-See Personal consumption
expenditures.
Contracts and orders, plant and equipment, constant dot. .
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.
29
76
61
970
14
12
13
13,25
24
24
38
33
12,23
23
67
67
67
76
72
65
65
6/79
1/80
2/79
2/79
2/79
5/79
7/78
295
46
82
11/79
83
82
84
20
20
20
64
64
64
9/79
9/79
9/79
97
11
965
24
24
37
66
66
75
8/79
8/79
2/79
914
35
34
11
29
29
60
70
70
3/79
9/79
9/79
442
90
441
37
51
18
51
18,51
89
62
89
920
10
39
36
11
23
15,35
32
60
920c
951
940
9
72
112
62,89
74
60
66
73
72
(
4/79
2/80
3/79
2/80
3/79!
7/79 '
6/79
3/79
8/79
6/79
6/79
Consumer finished goods-See Wholesale prices.
Consumer goods and materials new orders
49
87
6/76*
Debt-See Credit.
4/72* Defense
Military prime contract awards
....
National defense purchases
4/72*
New orders defense products
4/72*
Obligations incurred
11/75* Deficit-See Government.
Deflators-See Price indexes.
Delinquency rate consumer installment loans
Deliveries vendor performance
Diffusion indexes
Business expenditures, new plant and equipment
11/72
Capital appropriations, manufacturing
11/72
10/72*
345c
280
50
45
87
82
6/76*
11/79
10/72*
10/69
64
30,47
70,83
9/79
10/69*
346
49
88
6/76*
10/72*
346c
50
88
6/76*
10/72*
340
49
87
2/80
6/72*
340c
50
87
2/80
6/72*
341
49
87
2/80
6/72*
341c
348
349
50
50
50
87
88
88
2/80
11/79
11/79
6/72*
6/72*
6/72*
53
19
63
8/79
Charts
10
39
11
60
10
39
n
n
11
11
11
3/79
7/79
3/79
11/75*
60
3/79
7/79
11/75*
60
60
60
60
60
60
3/79
3/79
3/79
3/79
9/79
3/79
7/79
13,25
23
24
67
66
67
6/79
8/79
4/69
12/79
9/68*
83
67
67
83
67
67
11/79
10/69*
28
47
25
25
47
25
25
8
75
12,21
22
64
65
9/79
66
113
95
39
35
32
15,35
33
73
72
73
72
5/79
6/79
8/79
2/79
10/72
10/72
49,59
84,95
84,95
49
49
22
84
84
65
5/79
5/79
5/79
5/79
8/78
5/69*
5/69*
5/69*
5/69*
11/68*
20
10
116
12,23
23
34
66
66
73
12/79
12/79
9/68'
1/79
7/64
112
110
72
32
32
15,35
72
72
73
6/79
11/72
66
113
95
39
33
35
32
15,35
33
32
73
72
73
72
71
5/79
6/79
8/79
2/79
8/79
10/72
10/72
525
564
548
517
!S3
55
53
S3
90
91
90
90
8/78
1/80
8/78
39
32
33
12,21
72
64
2/79
8/79
11/72
12/74
970
965
951
974
963
967
38
37
36
38
36
37
2/79
2/79
6/79
2/79
11/68*
966
37
962
975
952
950
964
36
38
36
36
37
971
968
976
978
977
960
972
973
961
33
37
33
313
38
37
38
38
36
76
75
74
76
74
75
79
75
78
74
76
74
74
75
77
76
75
76
76
76
75
76
76
74
77
320
320c
322
322c
58
Employees manufacturing and trade
Employees on private nonagricultural payrolls
Industrial materials prices ....
Industrial materials prices components
Industrial production
Industrial production, components
Initial claims, State unemployment insurance
Inventories manufacturing and trade
Lagging indicators
Leading indicators
New orders durable goods industries
New orders, durable goods industries, components
New orders manufacturing
Prices, 500 common stocks .
Prices selling manufacturing
Prices selling retail trade
Prices selling wholesale trade
Profits manufacturing .
Profits net manufacturing and trade
Sales net manufacturing and trade
Workweek, mfg production workers
Workweek mfg production workers components
Disposable personal income-See Income.
NOTE; The following abbreviations are used in this index: Cl, composite index; 01, diffusion index; GPDI, gross private domestic investment; and NIPA, national income and product accounts.
*The identification number for this series has been changed since the publication date shown.
110
Tables
Historical Series
data descriptions
(issue date; (issue date)
10
39
49
60'"
5/75*
9/79
9/79
11/79
10/69*
9/79
5/79
6/72*
12/79
il/72
6/79
11/72
11/79
7/64
li/72
D
1/72
1/72
Coincident indicators
345
Current issue
(page number)
Series
number
Composite indexes
Coincident indicators
920
Four coinciders
920c
Four coinciders rate of change
940
Ratio to lagging indicator index
Lagging indicators
930
Six laooers
930c
Six laggers, rate of change
Leading indicators
914
Capital investment commitments
915
Inventory investment and purchasing
913
Marginal employment adjustments
917
Money and financial flows
916
Profitability
910
Twelve leaders . . . .
910c
Twelve leaders, rate of change
Construction
29
Building permits new private housing
Contracts awarded, commercial and industrial bldgs. . . 9
69
Expenditures, plus machinery and equipment sales —
Gross private domestic fixed investment
248
Nonresidential as percent of GNP
Nonresidential structures constant dollars
87
Nonresidential total constant dollars
86
249
Residential as percent of GNP
Residential, total, constant dollars
89
72
112
C
Canada-See International comparisons.
Capacity utilization
Manufacturing (BEA) . . .
....
Manufacturing (FRB)
Materials
Capital appropriations, manufacturing
Backlog
Newly approved
Newly approved D 1 .
.
Capital in vestment -See Investment, capital.
Capital investment commitments Cl
Cashflow corporate constant dollars
Cash flow, corporate current dollars
Civilian labor force~$ee 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,
nonform 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
...
Series titles
(See complete titles in "Titles and Sources of
Series," following this index)
10/79
V80
4/78
10/69*
11/68*
4/69*
9/79
6/78*
2/79 ~ '
6/69*
11/68*
6/79*
6/79
1/80
2/79
9/79
2/79
2/79
2/79
10/79
2/79
2/79
1/80
11/68*
5/69*
11/68*
11/68*
11/68*
ii/68*
11/68*
ALPHABETICAL INDEX-SERIES FINDING GUlDE-Continued
Series titles
(See complete titles in "Titles and Sources of
Series," following this index)
Current issue
(page numbers)
Series
number
Charts
Tables
Historical
Series
data descriptions
(issue date) issue date)
E
Earnings-See Compensation.
Employment and unemployment
Accession rate manufacturing
Civilian labor force, total
Employee hours in nonagricultural
establishments
Employee hours in nonagricultural
establishments, rate of change
Employees in mining mfg and construction
Employees, manufacturing and trade, 01
Employees on nonagricultural payrolls
Employees on private nonag payrolls, Dl . . .
....
Employment ratio to population
Employment total civilian
Help-wanted advertising in newspapers
Help-wanted advertising, ratio to unemployment .Initial claims, State unemployment insurance
Initial claims, State unemployment insurance, Dl
Layoff rate, manufacturing
Marginal employment adjustments Cl
Overtime hours, mfg. production workers
Participation rate both sexes 16-19yearsold
Participation rate, females 20 years and over
Participation rate males 20 years and over .
Part-time workers for economic reasons
Persons engaged in nonagricultural activities
Quit rate, manufacturing
Unemployed both sexes 1 6-1 9 years old
Unemployed, females 20 years and over
Unemployed full-time workers
Unemployed males 20 years and over
Unemployment average duration
Unemployment rate 1 5 weeks and over
Unemployment rate, insured average weekly
Unemployment rate total
Unemployment, total civilian
....
Workweek mfg production workers
Workweek, mfg. production workers, components . . .
Workweek mfg production workers Dl
Equipment-See Investment, capital.
Exports-See Foreign trade and International transactions.
2
441
16
51
61
89
48
17
61
48c
40
974
41
963
90
442
46
60
5
962
3
913
21
453
452
451
448
42
4
446
445
447
444
91
44
45
43
37
1
39
17
38
14,17
36
18
51
17
17
16
36
12,16
11
16
51
51
51
51
17
16
51
51
51
51
15,18
18
18
18
18,51
12,16
961
36
62'"
76
62
74
62
89
61
61
61
74
61
60
61
89
89
89
89
62
61
89
89
89
89
62
62
62
62
62,89
61
77
74
F
Federal funds rate
Federal Government-See Government.
Federal Reserve member bank borrowing from
Final sales in constant dollars .
....
Financial flows and money Cl
Fixed investment-See Investment, capital.
Fixed weighted price index NIPA
Fixed weighted price index, percent changes, NIPA
Food-See Consumer prices,
Foreign trade-See also International transactions.
Balance on goods and services
Balance on merchandise trade
Exports merchandise adjusted exc military
Exports, merchandise, total exc military aid
....
Exports of agricultural products
Exports of goods and services, constant do)., NIPA
Exports of goods and services, current dot., NIPA
Exports of goods and services, exc. military
Exports of nonelectrical machinery
Imports, merchandise, adjusted, exc. military
Imports merchandise total
i
Imports of automobiles and parts
Imports of goods and services, constant dol., NIPA
Imports of goods and services, current dot., NIPA
Imports of goods and services total
Imports of petrolsum and products
Net exports, goods and services, constant dol., NIPA
Net exports, goods and services, current dol.t NIPA . . .
Net exports, goods and services, percent of GNP, NIPA
France-See International comparisons.
Free reserves
119
34
72
94
213
917
33
40
11
72
80
60
311
311c
48
48
84
84
667
622
618
602
604
256
252
668
606
620
612
616
257
253
669
614
255
250
251
57
57
57
56
56
44
44
57
56
57
56
56
44
44
57
56
44
44
47
93
93
93
92
92
82
82
93
92
93
92
92
82
QZ
93
92
82
82
83
93
33
72
G
Goods output in constant dollars
Government budget, NIPA
Federal expenditures
Federal receipts
Federal surplus or deficit
State and local expenditures
State and local receipts
State and local surplus or deficit
Surplus or deficit total
Government purchases of goods and services
Federal constant dollars
Federal current dollars
Federal percent of GNP
National defense ...
State and local constant dollars
State and local current dollars
....
State and local percent of GNP
Total constant dollars
Total, current dollars
-
49
20
63
502
501
500
512
511
510
298
52
52
52
52
52
52
46
90
90
90
90
90
90
83
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
Gross bus! ness product
Fixed weighted price index
Fixed weighted price index, percent changes
Gross domestic product, labor cost per unit
Gross
national product
8/68
GNP constant dollars
4/72*
GNP constant dollars differences.
GNP constant dollars percent changes
8/68*
GNP current dollars
8/68*
GNP current dollars, differences . .
GNP current dollars percent changes
11/68*
GNP ratio to money supply
...
8/68
Goods output in constant dollars
Implicit price deflator
Implicit price deflator percent changes
4/72*
Per capita GNP constant dollars .
...
12/74
Gross private domestic invest,-See Investment, capital.
2/80
3/79
1/80
1/80
2/80
2/79
2/80
1/80
2/80
4/79
7/79
2/80
7/79
6/78
2/80
3/79
2/80
4/79
4/79
4/79
4/79
2/80
2/80
4/79
4/79
4/79
4/79
3/79
2/80
7/79
2/80
2/80
2/80
Series titles
(See complete titles in "Titles and Sources of
Series," following this index)
'
6/69*
6/69*
8/68*
12/74
4/72
Current issue
(page numbers)
Series
number
Charts
Tables
Historical Series
data descriptions
(issue date) (issue date)
48
48
30
84
84
70
11/79
11/79
9/79
7/68*
19,40
10/79'
10/79
10/79
10/79
10/79
10/79
10/69*
10/69*
10/69*
10/69
10/69
10/69
217
31 '"
20
48
48
40
63,80
80
80
80
80
80
71
63
84
84
80
46
60
17
17
21
1
16
12,16
961
28
29
89
249
310
311
311c
68
50
50b
50c
200
200b
200c
107
49
310
39
40
8/79
9/79
11/79
11/79
10/79
10/69*
10/69*
10/69
61
61
7/79
2/80
12/74
2/80
2/80
36
61
61
77
74
25
13,25
25
47
67
67
67
83
5/79
6/79
9/79
6/72
4/69
11/79
l'6/69*
310c
48
48
84
84
11/79
11/79
10/69*
10/69*
345
49
87
6/76*
10/72*
345c
280
64
50
45
30,47
87
82
70,83
6/76*
11/79
9/79
10/72*
10/69
10/69*
310c
H
Help-wanted advertising in newspapers
Help-wanted advertising ratio to unemployment
Hours of production workers, manufacturing
Average weekly overtime
Average workweek .
.......
...'.'.'.'.
Average workweek components
Average workweek, D 1
.'....
Housing
Housing starts
'
......
Housing units authorized by local bldg. permits
Residential GPDI, constant dollars
.'..'.'..
Residential GPDI percent of GNP
12/74
8/68
i/sb'
1
4/72
6/69
4/72
Implicit price deflator, GNP
Implicit price deflator GNP percent changes
Imports-See Foreign trade and International transactions.
8/68
Income
Compensation, average hourly, all employees,
i/80*
nonfarm business sector
Compensation, average hourly, all employees,
nonfarm business sector, percent changes
Compensation of employees ....
Compensation of employees, pet. of nat'l, income
Compensation, real average hourly, all employees,
11/73
1/79
nonfarm business sector
Compensation, real average hourly, all employees,
nonfarm business sector percent changes
8/79
Consumer installment debt, ratio to personal income( ..
10/79
Corporate profits with 1 VA and CCA
3/79
Corp. profits with IVA and CCA, pet. of nat'l. income .
Disposable personal income constant dollars
11/79
Disposable personal income current dollars
11/79
Disposable personal income, per capita, constant dol. . .
Earnings, average hourly, production workers,
8/79
private nonfarm economy
8/79
Earnings, average hourly, production workers,
5/69*
8/79
private nonfarm economy percent changes
5/69*
12/78
Earnings, real average hourly, production
12/78
workers private nonfarm economy
11/79
Earnings, real average hourly, production
5/69
11/79
workers, private nonfarm economy, percent changes .
5/69*
8/79
Income on foreign investmant in the U S
i.
12/78
Income on U S investments abroad '. ...... '..,..
5/69*
8/79
Interest net
5/69*
12/78
Interest net percent of national income
12/78
National income
.' —
11/79
Personal income constant dollars
5/69
11/79
Persona) income, current dollars .
....'.,.' .'.....
5/69*
8/79
Personal income less transfers constant dollars
Personal income, less transfers, constant dols. rate of chg.
12/78
Personal income ratio to money supply
..
11/79
5/69
Proprietors' income with IVA and CCA
11/79
10/69*
Proprietors'
income
with
IVA
and
CCA,
percent
11/79
of national income
11/72
Rental income of persons with CCA ...... ..'..' .
12/78
Rental income of persons with CCA, pet. of nat'l. income
Wage and benefit decisions first year
.'
Wage and benefit decisions life of contract
9/79
Wages and salaries, mining, mfg., and construction
Incorporations new businesses ...
.....
7/68*
Industrial materials prices
9/79
7/68*
9/79
Industrial materials prices, Dl . . , .
7/68*
9/79
Industrial production - See also International comparisons.
10/79
10/79
Business equipment
10/79
Consumer goods . ,
....
J ...... ......
11/79 ' 10/69
Durable manufactures
.'
.
Nondurable manufactures
11/79
11/73
Total
.
...
11/79
10/69
11/79 10/69*
Total Dl
10/79 10/69*
Total rate of change
.....'.....
11/73
11/79
Installment debt-See Credit.
11/79 10/69
Insured unemployment
Avg. weekly initial claims, unemploy. insurance ..;...
11/79 10/69*
Avg. weekly initial claims, unemploy. insurance, Dl . . .
11/79
Avg. weekly insured unemployment rate
io/69
11/79
4/72*
346
49
88
6/76*
10/72*
346c
95
286
287
225
224
227
50
15,35
45
47
40
40
40
88
73
82
83
80
80
80
6/76*
10/72*
8/79
11/79
11/79
10/79
10/79
10/79
,
io/69
10/69*
10/69
10/69
10/69
340
49
87
2/80
340c
50
87
2/80
6/72*
341
49
87
2/80
6/72*
50
57
57
45
47
45
19
40
14,19
39
31
45
87
93
93
82
83
82
63
63
63
2/80 !
8/79
8/79
6/72*
5/69*
5/69*
10/69
10/69*
10/69
283
284
285
348
349
53
13
23
11
967
37
83
82
83
88
88
63
65
69
79
75
341 c
652
651
288
289
220
52
223
51
5lc
108
282
76
75
73
74
47
47
50
50
19
23
28
24
22
20
20
14,20,58
966
47c
37
39
5
962
45
16
36
18
a"
67
65
63
63
63,94
78
75
61
74
62
11/79
11/79
10/79
2/80
1/80
2/80
7/79
8/79
6/72*
7/68*
11/79
10/69
11/79
11/79
11/79
11/79
11/79
8/79,
10/69*
10/69
10/69*
6/72*
6/72*
7/78
1/78
4/69*
4/78'
4/69*
1/80
12/79
12/79
12/79
12/79
11/68
9/79'
12/79
7/79
6/78
7/79
6/69
6/69*
6/69
NOTE: The following abbreviations are used in this index: Cl, composite index; Dl/diffusion index; GPDI, gross private domestic investment; and NIPA, national income and product accounts.
*The identification number for this series has been changed since the publication date shown.
111
ALPHABETICAL INDEX-SERIES FINDING GUIDE-Continued
Series titles
(See complete titles in "Titles and Sources of
Series," following this index)
Current issue
(page numbers)
Series
number
Interest, net
288
Interest net percent of national income
289
Interest rates
Bank rates on short-term business loans
67
Corporate bond yields
116
Federal funds rate . .
119
Mortgage yields secondary market
118
Municipal bond yields . .
117
Prime rate charged by banks
109
Treasury bill rate
114
Treasury bond yields
115
Intermediate materials-See Wholesale prices.
International comparisons
Consumer prices
Canada index
733
Canada percent changes
733c
France index .
......
736
France percent changes
736c
Italy index
737
Italy percent changes
....
737c
Japan index
738
Japan percent changes
738c
United Kingdom index
732
United Kingdom percent changes
732c
United States index
320
United StQt@s percsnt changes
320c
West Germany, index
735
West Germany percent changes
735c
Industrial production
Canada
723
France
726
Italy
....
727
Japan
728
0 ECO, European countries
721
United Kingdom
722
United States
47
West Germany
725
Stock prices
Canada
.
..
. . . . 743
France
746
Italy
747
Japan
748
United Kingdom
742
United States .
....
19
West Germany
745
International transactions-See also Foreign trade.
Balance on goods and services
667
Balance on merchandise trade
622
Exports, merchandise, adjusted, exc, military .......
618
Exports, merchandise, total exc. military aid
602
604
Exports of agricultural products
Exports of goods and services, exe. military
668
Exports of nonelectrical machinery
606
Imports, merchandise, adjusted, exc. military
620
Imports merchandise total
612
Imports of automobiles and parts
616
Imports of goods and services total , .
669
1 mports of petro leum and products
614
Income on foreign investments in U S
652
Income on U S investments abroad , .
651
Inventories
Business inventories, change, constant dollars
30
Business inventories, change, current dollars
245
Business inventories change percent of GNP
247
Finished goods manufacturers'
65
Inventories on hand and on order nut change
36
Inventories to sales ratio, mfg. and trade (deflated) . . i . 77
Inventory investment and purchasing Cl
915
Manufacturing and trade, constant dollars
70
Manufacturing and trade current dollars
71
Manufacturing and tra.de, current dollars, change
31
Manufacturing and trade Dl
975
Materials and supplies on hand and on order, mfg
78
Materials and supplies on hand and on order, mfg.,
chanoe
38
Investment, capital
Capital appropriations, manufacturing, backlog
97
11
Capital appropriations, manufacturing, new . . .
Capita! appropriations, manufacturing, new, Dl
965
914
Capital investment commitments Cl
Construction contracts, commercial and industrial .... 9
Construction expenditures, business and machinery
69
and equipment sales
Gross private domestic investment
Fixed investment, constant dollars ...
243
Fixed investment, current dollars ...
242
Inventories, business, change in=See Inventories.
Nonresidentiul total constant dollars
86
Nonresidential total percent of GNP
248
Producers' durable equip., nonresid., constant dol. . . 88
89
Residential, total, constant dollars ...
Residential total, percent of GNP
249
Structures, nonresidential, constant dollars
87
241
Total constant dollars
240
Total, current dollars
New orders, capital goods, nondefense, constant
27
dollars
New orders, capital goods, nondefense, current
24
dollars
Charts
Tables
Series
Historical
data descriptions
{issue date) (issue date)
45
47
82
83
11/79
11/79
10/69
10/69*
35
34
34
34
34
35
34
34
73
73
72
73
73
73
72
73
8/79
1/79
1/79
1/79
1/79
1/79
1/79
1/79
12/74
7/64
11/73
7/64
7/64
11/73
7/64
7/64
Series titles
(See complete titles in "Titles and Sources of
Series," following this index)
Charts
Plant and equipment
Business expenditures new
Contracts and orders, constant dollars
Contracts and orders, current dollars
Investment, foreign
Income on foreign investments in U S ......' J
Income on U.S. investments abroad
Italy-See International comparisons.
Tables
Series
Historical
data descriptions
(issue date) (issue date)
61
970
20
10
24
38
12,23
23
67
76
66
66
2/79
2/79
11/68
11/68*
12/79
12/79
9/68*
652
651
57
57
93
93
8/79
8/79
5/69*
5/69*
68
62
63
26
30.
15,30
30
29
70
70
70
70
930
930c
952
3
10
39
36
12,16
60
910
10
39
36
33
13,31
60
950
14
104
72
71
3/79
7/79
6/79
2/79
1/80
913
78
11
27
60
68
3/79
1/80
38
26
68
12/79
8
84
12,21
20
64
64
9/79
9/79
917
11
60
3/79
104
105
85
106
102
107
108
33
118
117
13,31
31
31
13,31
31
31
31
32
34
34
71
71
71
71
71
71
71
71
73
73
1/80
3/79
3/79
3/79
3/79
8/79
8/79
8/79
1/79
1/79
27
24
8
20
10
548
7
6
23
23
12,21
12,23
23
53
21
21
964
971
37
38
66
66
64
66
66
90
64
64
77
75
76
88
87
86
248
25
?.S
25
47
67
67
67
83
11/79
517
721
53
S8
90
94
8/78
2/79
49
62
358
370
370c
83
82
84
21
20
15,30
50
50
50
20
20
20
16
63
70
88
88
88
64
64
64
61
9/79
J
Japan-See International comparisons.
1/79
1/79
7/79
7/79
1/79
1/79
1/79
1/79
1/79
1/79
5/79
5/79
1/79
1/79
9/72*
L
9/72*
59""
96
96
95
95
96
96
95
95
95
95
84,95
84,95
95 .
95
58
58
58
58
58
58
14,20,58
58
94
94
94
94
94
94
63,94
94
2/79
2/79
2/79
2/79
2/79
2/79
10/72*
10/72*
10/72*
10/72*
Labor cost per unit of gross domestic product
Labor cost per unit of output manufacturing . ....'..,.
Labor cost per unit of output, private business sector
Labor cost, price per unit of, nonfarm business . ."
Labor force-See Employment and unemployment,
Lagging indicators, six
Composite index
Composite index, rate of change
:..'..'.....'....
Diffusion index
'....;.....'....
Layoff rate manufacturing
....
Leading indicators, twelve
Composite index
.' J
Composite index rate of change
Diffusion index
Liabilities of business failures
Liquid assets, change in total
.'...'.....'.
Loans-See Credit.
2/79
59
59
59
59
59
59
59
96
96
96
96
96
96
96
6/79
6/79
6/79
6/79
6/79
6/79
6/79 i
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
8/79
8/79
8/79
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
26
68
12/79
24
24
37
11
23
66
66
75
60
66
8/79
8/79
2/79
3/79
8/79
24
67
12/79
42
42
81
81
11/79
10/79
25
47
25
25
47
25
42
42
67
83
67
67
83
67
81
81
9/79
23
66
12/79
23
66
12/79
59""
59*"
59""
59"*
59
49
49,59
12/79
12/78
12/78
8/79
9/72*
9/72*
9/72*
5/69*
5/69*
9/72*
M
10/72*
11/68
10/72* Man-hours-See Employment and unemployment.
Marginal employment adjustments, Cl
Materials and supplies on hand and on order, mfg
Materials and supplies on hand and on order, mfg.
change
Materials, crude and intermediate-See Wholesale prices.
Materials, industrial-See Price indexes.
5/69*
5/69*
5/69*
12/78
8/79
12/78
12/78
8/79
5/69*
5/69*
5/69*
12/78
8/79
8/79
5/69*
5/69*
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 Ml percent changes
Money supply M2
.
.'......
Money supply M2 percent changes
Ratio GNP to money supply M1
Ratio personal income to money supply M2
Mortgage debt, net change
' . ....'...".,...,.
Mortage yields secondary market
I.
Municipal bond yields
910c
74
61
74""
9/79
7/68
12/79
11/68
10/72
1/77
11/79
3/79
7/79
6/79
2/80
11/75*
8/68*
5/75*
10/72
i6/72
7/64
7/64
N
9/79
11/79
11/79
1/80
12/79
1/80
3/79
12/79
12/79
12/79
2/79
1/80
National defense-See Defense.
10/69
10/69* National Government -See Government.
National income-See Income.
9/68
New orders, manufacturers'
Capital goods industries, nondefense, constant dol
Capital goods industries nondefense current dol
Consumer goods and materials, constant dollars
Contracts
and orders, plant and equip,, constant dol. . .
2/69*
Contracts and orders, plant and equip., current dol. . . .
2/69
Defense products
11/68*
Durable goods industries constant dollars
Durable goods industries current dollars
... ,
Diffusion index
New orders, manufacturing, Dl
Nonresidential fixed investment, GPDI
Producers' durable equipment, constant dollars
Structures constant dollars
Total percent of GNP ....
12/79
12/79
9/68
9/79
12/79
12/79
9/68*
1/80
9/79
9/79
9/68*
i/so'
2/79
11/68*
9/79
9/79
9/79
ib/69*
9/68*
O
11/79
9/79
9/79
11/79
9/79
10/79
10/79
Obligations incurred Defense Department
OECD, European countries, industrial production
Orders-See New orders and Unfilled orders.
10/69* Output-See also Gross national product and
Industrial production.
Goods output constant dollars
Labor cost per unit of
ib/69*
Per hour nonfarm business sector
Per hour private business sector
10/69
Per hour, private business sector, percent changes
Ratio to capacity manufacturing (BEA)
Ratio to capacity manufacturing (FRB)
Ratio to capacity materials
9/68
Overtime hours, production workers, manufacturing
—
NOTE: The following abbreviations are used in this index: Cl, composite index; Dl, diffusion index; GPDI, gross private domestic in vestment; and NIPA, national income and product accounts.
*The identification number for this series has been changed since the publication date shown.
112
Current issue
(page numbers)
Series
number
12/79
6/76*
6/76*
6/76*
li/68
6/68*
10/72*
10/72*
9/79
9/79
9/79
2/80
12/74
ALPHABETICAL INDEX-SERIES FINDING GUIDE-Continued
Series titles
(See complete titles in "Titles and Sources of
Series," following this index)
Current issue
(page numbers)
Series
number
Charts
Tables
Historical
Series
data descriptions
(issue date) (issue date)
P
Participation rates, civilian labor force
Both sexes 1 6-1 9 years of age
Females 20 years and over
Males 20 years and over
.
Personal consumption expenditures
Automobiles
Durable goods, constant dollars . . . . .
Durable goods current dollars
Nondurable goods, constant dollars
Nondurable goods, current dollars
Services, constant dollars
Services current dollars
Total, constant dollars
Total current dollars
Total percent of GNP
Personal income-See Income.
Personal saving
Personal saving rate
... . .
.....
Petroleum and products iimports
. . .
Plant and equipment-See also Investment, capital.
Business expenditures for
Business expenditues for 01
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
1 ndustrial materials, D 1
Labor cost price per unit of
Sensitive prices change in
Stock prices-See also International comparisons.
500 common stocks
500 common stocks Dl
'
Wholesale prices
All commodities index
All commodities percent change
Consumer finished goods, index
Consumer finished goods, percent changes
;. . .
Crude materials, index
'
Crude materials percent changes
Intermediate materials index
Intermediate materials percent changes . . . ^
Producer finished goods percent changes
Price to unit labor cost nonfarm business
Prices, selling
Manufacturing Dl
Retail trade Dl
Wholesale trade, Dl . . ;
Prime contracts military
:. .
Producer finished goods-See Wholesale prices.
Producers' durable equipment, nonresid., GPDl
Product ion -See Industrial production and GNP.
Productivity
Output per hour, nonfarm business sector
Output per hour private business sector
Dutput per hour, private business sector, pet. changes .
Profitability Cl •
Profits
Corporate after taxes constant dollars
Reserves, free
Residential fixed investment, constant dollars, GPDl
Residential fixed investment, percent of GNP
Residential structures-See Housing.
Retail sales, constant dollars
Retail sales current dollars
Proprietors' income with IVA and CCA
Proprietors' income with IVA and CCA, pet. of nat'l. inc. .
—
89
89
89
4/79
4/79
4/79
55
233
232
238
236
239
237
231
230
235
22
41
41
41
41
41
41
41
41
47
65
80
80
81
81
81
81
80
80
83
9/79
292
293
614
46
46
56
82
83
92
11/79
11/79
12/78
61
970
20
10
90
24
38
12,23
23
18
67
76
66
66
62
2/79
2/79
2/80
320
320c
322
322c
49
49,59
49
49
84,95
84,95
84
84
5/79
5/79
5/79
5/79
311
23
48
48
48
48
28
11/79
11/79
11/79
11/79
1/78
4/69
967
26
92
37
29
13,28
84
84
84
84
69
79
75
70
69
Salaries-See Compensation.
Sales
Final sales, constant dollars
Machinery and equipment sales and business
construction expenditures
Manufacturing and trade sales, constant dollars
Manufacturing and trade sales, current dollars
Manufacturing and trade sales, Dl
10/69
Ratio, inventories to sales, mfg. and trade
7/68*
Retail sates, constant dollars
Retail sales current dollars
Saving
11/68
Business saving
11/68*
Government surplus or deficit
Gross saving private and government
9/68
Personal saving
Personal saving rate
Selling prices-See Prices, selling.
5/69* Sensitive prices, change in
5/69* State and local government-See Government.
5/69* Stock prices-See also International comparisons.
500 common stocks
5/69*
500 common stocks, Dl
Stocks of materials and supplies on hand and on order . . .
Stocks of materials and supplies on hand and on order,
10/69* change
10/69* Surplus-See Government.
4/78'
11/79
4/69*
4/79
19
968
13,28
37
69
75
9/79
9/79
330
330c
334
334c
331
85
85
86
86
85
85
86
86
86
86
70
4/79
4/79
5/79
332
332c
333
333c
26
48
48
48
48
48
48
48
48
48
48
29
976
978
977
525
109
38
38
38
53
35
76
76
76
90
73
.1/79
88
25
67
9/79
311c
310
310c
12/79
12/79
10/69
10/69
10/69
10/69*
Treasury bill rate
Treasury bond yields
.
5/69*
9/79
69
69
9/79
9/79
1/72
7/68
80
79
286
287
972
960
15
916
22
28
28
45
47
38
37
29
11
29
69
69
82
83
76
75
70
60
69
9/79
9/79
81
282
283
29
45
47
70
82
83
9/79
4
16
61
2/80
284
45
82
11/79
285
47
83
11/79
11/79
11/79
10/79
1/78
9/79
9/79
11/79
11/79
R
22
22
65
65
12/79
12/79
6/72*
213
40
80
10/79
69
57
56
973
77
59
54
24
14,22
22
38
27
22
22
67
65
65
76
68
65
65
12/79
9/68*
1/80
1/80
2/79
1/80
2/69'
11/68*
295
298
290
292
293
46
46
46
46
46
82
83
82
82
83
11/79
11/79
11/79
11/79
92
13,28
69
4/79
19
968
78
13,28
37
27
69
75
68
9/79
9/79
1/80
38
26
68
12/79
114
115
34
34
72
73
V79
1/79
7/64
7/64
91
60
5
962
3
15,18
17
16
36
12,16
62
61
61
74
61
3/79
2/80
7/79
6/78
2/80
6/69'
6/69*
3/68*
446
445
447
444
37
4
51
51
51
51
18,51
16
89
89
89
89
62,89
61
4/79
4/79
4/79
4/79
2/80
2/80
44
45
43
18
18
18
62
62
62
2/80
7/79
2/80
4/72
6/69
4/72
96
25
21
21
64
64
6/78
12/79
9/68
9/68
107
108
32
31
31
12,21
71
71
64
8/79
8/79
8/79
12/74
330
330c
334
334c
331
331 c
332
332c
333
333c
92
1
48
48
48
48
48
48
48
48
48
48
13,28
12,16
85
85
86
86
85
85
86
86
86
86
69
61
4/79
4/79
5/79
5/79
4/79
4/79
4/79
4/79
5/79
5/79
4/79
2/80
36
77
74
i/so'
12/79
12/79
11/79
6/72*
10/69
10/69
10/69
7/68*
5/69
5/69*
U
28
28
2/79
10/69*
59
54
11/72
6/69*
18
16
2/79 ,
8/78
11/79
9/79
5/69
6/76*
6/76*
6/76*
2/79
-2/79
12/78
T
88
88
88
60
11/79
72
67
83
1
10/69
50
50
50
11
4/79
4/79
4/79
4/79
5/79
5/79
33
25
47
93
89
249
S
10/69
358
370
370c
916
331c
5/79,
Tables
Historical Series
data descriptions
(issue date) (issue date)
10/69*
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
1 1 /68*
Ouit rate, manufacturing
11/68*
Unemployment rates
11/68*
1 5 weeks and over
Insured, average weekly
11/73
Total
Unfilled orders, manufacturers'
Durable goods industries
Durable goods industries change in
6/68* United Kingdom-See International comparisons.
10/72*
10/72*
V
Q
Rental income of persons with CCA
Rental income of persons, with CCA, percent of national
income
Charts
51
51
51
10/79
10/79
10/79
10/79
10/79
10/79
10/79
10/79
10/79
Current issue
(page numbers)
Series
number
453
452
451
Corporate, after taxes, with IVA and CCA,
Corporate, after taxes, with IVA and CCA, cur. dol. . . .
Corporate with IVA and CCA
Corporate, with IVA and CCA, pet. of nat'l. income . . .
Manufacturing and trade Dl
'
..'
Manufacturing Dl . . .
Per dollar of sales manufacturing
Profitability C l
. . . .
Ratio, profits to corporate domestic income . :
Ratio, profits with IVA and CCA to corporate domestic
Series titles
(See complete titles in "Titles and Sources of
Series," following this index)
10/69
10/69*
11/68*
Velocity of money
GNP to money supply Ml, ratio
Personal income to money supply M2, ratio
Vendor performance
4/72*
W
Wages and salaries-See Compensation.
West Germany-See International comparisons.
3/69*
Wholesale prices
All commodities index
7/68'
All commodities percent changes
Consumer finished goods, index
Consumer finished goods, percent changes
10/69
Crude materials index
10/69*
Crude materials, percent changes
Intermediate materials index
.
Intermediate materials percent changes
....
Producer finished goods, index
Producer finished goods percent changes
Sensitive prices change in
Workweek of production workers, manufacturing
Workweek of production workers, manufacturing,
10/69
components
10/69* Workweek of production workers, manufacturing, Dl
961
6/69*
8/68'
NOTE: The following abbreviations are used in this index: Cl, composite index; Dl, diffusion index; GPDl, gross private domestic investment; and NIPA, national income and product accounts,
*The identification number for this series has been changed since the publication date shown.
113
TITLES AND SOURCES OF SERIES
Series are listed below according to the sections of this report
in which they appear. Series numbers are for identification
only and do not reflect relationships or order among the
series. "M" following a series title indicates monthly data;
"Q" indicates quarterly data. Data apply to the whole period
except when indicated by "EOM" (end of month) or "EOQ"
(end of quarter).
To save space, the commonly used sources listed below are
referred to by number:
Economic Research, Inc. (Used by permission. This
series may not be reproduced without written
permission from the source.)
(23,66)
10. Contracts and orders for plant and equipment in current
dollars (M).-Source 2 and McGraw-Hill Information
Systems Company; seasonal adjustment by Bureau of
the Census and Bureau of Economic Analysis (23,66)
11. Newly approved capital appropriations, 1,000
manufacturing corporations (Q).—The Conference
Board
(24,66)
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.
12. Index of net business formation (M).—Source 1;
seasonal adjustment by Bureau of Economic Analysis
and National Bureau of Economic Research,
Inc.
(12,23,65)
Following the source for each series is an indication of the
pages on which that series appears. The "Series Finding
Guide" also lists chart and table page numbers for each
series.
13. Number of new business incorporations (M).—Dun &
Bradstreet, Inc.; seasonal adjustment by Bureau of
Economic Analysis and National Bureau of Economic
Research, Inc.
(23,65)
I-A. Composite Indexes
14. Current liabilities of business failures (M).—Dun &
Bradstreet, Inc.
(33,72)
910. Composite index of twelve leading indicators (includes
series 1, 3, 8, 12, 19, 20, 29, 32, 36, 92, 104, 106)
(M).-Source 1
(10,39,60)
913. Composite index of marginal employment adjustments
(includes series 1, 2, 3, 5) (M).-Source 1 (11,60)
15. Profits (after taxes) per dollar of sales, all
manufacturing corporations (Q).-Federal Trade Commission and Securities and Exchange Commission;
seasonal adjustment by Bureau of Economic
Analysis
(29,70)
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)
33. Net change in mortgage debt held by financial
institutions and life insurance companies (M).—
American Council of Life Insurance; Federal National
Mortgage Association; U.S. Department of Housing and
Urban Development, Government National Mortgage
Association; National Association of Mutual Savings
Banks; U.S. Savings; and Loan League; and source 4;
seasonal adjustment by Bureau of Economic
Analysis
(32,71)
34. Net cash flow, corporate, in current dollars (Q).Source 1
(29,70)
35. Net cash flow, corporate, in 1972 dollars (Q).—Source
1
(29,70)
36. Net change in inventories on hand and on order in 1972
dollars (smoothed) (iVI).-Sources 1, 2, and 3(13,26,68)
37. Number of persons unemployed, labor force survey
(M).-Sources 2 and 3
(18,51,62,89)
38. Change in stocks of materials and supplies on hand and
on order, manufacturing (M).-Source 2
(26,68)
39. Percent of consumer installment loans delinquent 30
days and over (EOM).-American Bankers
Association
(33,72)
40. Number of employees in nonagricultural goodsproducing industries—mining, manufacturing, and
construction (M).-Source 3
(17,62)
41. Number of employees on nonagricultural payrolls,
establishment survey (M).-Source 3
(14,17,62)
42. Number of persons engaged in 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
Training Administration
(18,62)
920. Composite index of four roughly coincident indicators
(includes series 41, 47, 51, 57) (M).-Source
1
(10,39,60)
21. Average weekly overtime hours of production workers,
manufacturing (M).—Source 3
(16,61)
46. Index of help-wanted advertising in newspapers (M).—
The Conference Board
(17,61)
930. Composite index of six lagging indicators (includes
series 62, 70, 72, 91, 95, 109) (M).-Source
1
(10,39,60)
22. Ratio of profits (after taxes) to total corporate domestic
income (Q).-Source 1
(29,69)
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 (12,16,61)
4. Quit rate, manufacturing (M).—Source 3
(16,61)
23. Index of industrial materials prices (M).—Source
3
((28,69,79)
24. Value of manufacturers' new orders, capitaf goods
industries, nondefense, in current dollars (M),—Source
2
25. Change in manufacturers' unfilled orders, durable goods
industries (M).-Source 2
(21,64)
47. Index of industrial production, total (M).—Source
4
(14,20,39,58,63,78,94)
48. Employee-hours in nonagricultural
(M).-Source 3
establishments
(17,39,61)
49. Value of goods output in 1972 dollars (Q).-Source
1
(20,63)
50. Gross national product in 1972 dollars (Q).—Source
1
(19,39,40,63,80)
51. Personal income, less transfer payments, in 1972 dollars (M).-Source 1
(14,19,39,63)
26. Ratio, implicit price deflator to unit labor cost, nonfarm
business sector (Q).-Sources 1 and 3
(29,70)
52. Personal income, total, in 1972 dollars (M).-Source
1
(19,63)
5. Average weekly initial claims for unemployment
insurance, State programs (M).—U.S. Department of
Labor, Employment Training Administration; seasonal
adjustment by Bureau of Economic Analysis (16,61)
27. Value of manufacturers' new orders, capitaf goods
industries, nondefense, in 1972 dollars (M).—Sources
1, 2, and 3
(23,66)
53. Wage and salary income in mining, manufacturing, and
construction in 1972 dollars (M).—Sources 1 and
3
(19,63)
28. New private housing units started, total (M),—Source
2
(25,67)
54. Sales of retail stores in current dollars (M).- Source
6. Value of manufacturers' new orders, durable goods
industries, in current dollars (M).—Source 2(21,64,77)
29. Index of new private housing units authorized by local
building permits (M).-Source 2
(13,25,67)
55. Personal consumption expenditures, automobiles (Q).—
Source 1
(22,65)
30. Gross private domestic investment, change in business
inventories, all industries, in 1972 dollars (Q).-Source
1
(26,42,68,81)
56. Manufacturing and trade sales in current dollars (M).—
Sources 1 and 2
(22,65)
7. Value of manufacturers' new orders, durable goods
industries, in 1972 dollars (M).-Sources 1, 2, and
3
(21,64)
8. Value of manufacturers' new orders for consumer goods
and materials in 1972 dollars (M).—Sources 1, 2, and
3
(12,21,64)
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
Bureau of Economic Analysis and National Bureau of
32. Vendor performance, percent of companies reporting
slower deliveries (M).—Purchasing Management
Association of Chicago
(12,21,64)
114
2
(22,65)
57. Manufacturing and trade sales in 1972 dollars (M).—
Sources 1, 2, and 3
(14,22,65)
58. Index of consumer sentiment (Q,M).-University of
Michigan, Survey Research Center
(22,65)
59. Sales of retail stores in 1972 dollars (M).- Sources 1
2, and 3
(22,65)
TITLES AND SOURCES OF SERIES- Continued
60. Ratio, help-wanted advertising in newspapers (series
46) to number of persons unemployed (series 37)
(M).-Sources 1, 2, 3, and The Conference
Board
(17,61)
84. Rate of capacity utilization, materials (Q).—Source
4
(20,64)
119. Federal funds rate (M).-Source 4
(34,72)
85. Change in money supply Ml (demand deposits plus
currency) (M).-Source 4
(31,71)
1-C. Diffusion Indexes
61. Business expenditures for new plant and equipment,
total (Q).-Source 1
(24,67)
86. Gross private domestic fixed investment, total
nonresidential, in 1972 dollars (Q).-Source 1(25,67)
950. Diffusion index of twelve leading indicator components
(M).-Source 1
(36,74)
62. index of labor cost per unit of output, total
manufacturing—ratio, index of compensation of
employees in manufacturing (sum of wages, salaries,
and supplements to wages and salaries) to index of
industrial production, manufacturing (M).-Sources 1
and 4
(15,30,70)
87. Gross private domestic fixed investment, nonresidential
structures, in 1972 dollars (Q),-Source 1 (25,67)
951. Diffusion index of four roughly coincident indicator
components (M).-Source 1
(36,74)
88. Gross private domestic fixed investment, nonresidential
producers' durable equipment, in 1972 dollars (Q).—
Source 1
(25,67)
952. Diffusion index of six lagging indicator components
(M).-Source 1
(36,74)
63. Index of unit labor cost, private business sector (Q).—
Source 3
(30,70)
89. Gross private domestic fixed investment, total
residential, in 1972 dollars (Q).-Source 1 (25,67)
64. Compensation of employees as a percent of national
income (Q).-Source 1
(30,47,70,83)
90. Ratio, civilian employment to total population of
working age (M).-Sources 1, 2, and 3
(18,62)
65. Manufacturers' inventories of finished goods, book
value, all manufacturing industries (EOM).-Source
2
(27,68)
91. Average (mean) duration of unemployment in weeks
(M).-Sources 2 and 3
'
(15,18,62)
66. Consumer installment debt (EOM).-Source 4; FRB
seasonally adjusted net change added to seasonally
adjusted figure for previous month to obtain current
figure
(35,73)
92. Change in sensitive prices (PPI of crude materials less
agricultural products) (smoothed) (M).-Sources 1 and
3
(13,28,69)
93. Free reserves (member banks excess reserves minus
borrowings) (M).-Source 4
(33,72)
67. Bank rates on short-term business loans (Q,M).—Source
4
(35,73)
94. Member bank borrowings from the Federal Reserve
(M).-Source 4
(33,72)
68. Labor cost (current dollars) per unit of gross domestic
product (1972 dollars), nonfinancial corporations—ratio
of current-dollar compensation of employees to real
gross corporate product (Q).—Source 1
(30,70)
95. Ratio, consumer installment debt to personal income
(EOM).-Sources 1 and 4
(15,35,73)
69. Manufacturers' machinery and equipment sales and
business construction expenditures (industrial and commercial construction put in place) (M).—Source
2
(24,67)
70. Manufacturing and trade inventories in 1972 dollars
(EOM).-Sources 1, 2, and 3
(15,27,68)
96. Manufacturers' unfilled orders, durable goods industries
(EOM).-Source 2
(21,64)
97. Backlog of capital appropriations, manufacturing
(EOQ).-The Conference Board
(24,66)
102. Change in money supply M2 (demand deposits and
currency plus time deposits at commercial banks other
than large CD's) (M).-Source 4
(31,71)
71. Manufacturing and trade inventories, total book value,
in current dollars (EOM).-Sources 1 and 2 (27,68)
104. Change in total liquid assets (smoothed) (M).—Sources
1 and 4
(13,31,71)
72. Commercial and industrial loans outstanding, weekly
reporting large commercial banks (M).—Source 4;
seasonal adjustment by Bureau of Economic
Analysis
(15,35,73)
105. Money supply Ml (demand deposits plus currency) in
1972 dollars (M).-Sources 1, 3, and 4
(31,71)
73. Index of industrial production, durable manufactures
(M).-Source 4
74. Index of industrial production,
manufactures (M).-Source 4
(20,63)
nondurable
(20,63)
75. Index of industrial production, consumer goods (M).—
Source 4
(22,65)
76. Index of industrial production, business equipment
(M).-Source 4
(24,67)
77. Ratio, constant-dollar inventories (series 70) to sales
(series 57), manufacturing and trade, total (EOM).™
Sources 1, 2, and 3
(27,68)
78. Stocks of materials and supplies on hand and on order,
manufacturing (EOM).-Source 2
(27,68)
81. Ratio of profits (after taxes) with inventory valuation
and capital consumption adjustments to total corporate
domestic income (Q).-Source 1
(29,70)
82. Rate of capacity utilization, manufacturing (Q),—Source
4
(20,64)
83. Rate of capacity utilization, manufacturing (EOQ).—
Source 1
(20,64)
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 industries (Q),—The Conference
Board
(37,75)
966. Diffusion index of industrial production—24 industries
(M).-Sources 1 and 4
(37,75,78)
967. Diffusion index of industrial materials prices—13
industrial materials (M).-Sources 1 and 3 (37,75,79)
968. Diffusion index of stock prices, 500 common stocks—
58-82 industries (M).-Standard & Poor's Corporation
(37,75)
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)
108. Ratio, personal income to money supply M2 (M).—
Sources 1 and 4
(31,71)
109. Average prime rate charged by banks (M).—Source
4
(35,73)
110. Total funds raised by private nonfinancial borrowers in
credit markets (Q).-Source 4
(32,72)
112. Net change in bank loans to businesses (M).—Source 4;
seasonal adjustment by Bureau of Economic
Analysis
(32,72)
115. Yield on long-term Treasury bonds (M).—U.S.
Department of the Treasury
(34,73)
(28,69)
963. Diffusion index of number of employees on private
nonagricultural payrolls—172 industries (M).—Source
3
(36,74)
107. Ratio gross national product to money supply Ml (Q).—
Sources 1 and 4
(31,71)
80. Corporate profits after taxes with inventory valuation
and capital consumption adjustments in 1972 dollars
(Q).-Source 1
962. Diffusion index of initial claims for unemployment
insurance, State programs—51 areas (M).-Source 1
and U.S. Department of Labor, Employment Training
Administration; seasonal adjustment by Bureau of
Economic Analysis
(36,74)
970. Diffusion index of business expenditures for new plant
and equipment, total—18 industries (Q).—Source
1
(38,76)
(28,69)
(Q).-Source 1
961. Diffusion index of average workweek of production
workers, manufacturing—20 industries (M).—Sources 1
and 3
(36,74,77)
106. Money supply M2 (demand deposits and currency plus
time deposits at commercial banks other than large
CD's) in 1972 dollars (M).-Sources 1, 3, 4 (13,31,71)
113. Net change in consumer installment debt (M).—Source
4
(32,72)
114. Discount rate on new issues of 91-day Treasury bills
(M),-Source 4
(34,72)
79. Corporate profits after taxes with inventory valuation
and capital consumption adjustments in current dollars
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)
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)
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).-Oun & Bradstreet, Inc.
(Used by permission. This series may not be reproduced
without written permission from the source.) (38,76)
978. Diffusion index of selling prices, retail trade—about 250
businessmen reporting (Q).--Dun & Bradstreet, Inc.
(Used by permission. This series may not be reproduced
without written permission from the source.) (38,76)
II-A. National Income and Product
30. Gross private domestic investment, change in business
inventories, all industries, in 1972 dollars (Q).—Source
1
(26, 42, 68, 81)
50. Gross national product in 1972 dollars (Q).—Source
1
(19,39,40,63,80)
64. Compensation of employees as a percent of national
income (Q).-Source 1
(30,47,70,83)
200. Gross national product in current dollars (Q).—Source
1
(40,80)
213. Final sales (series 50 minus series 30) in 1972 dollars
(Q).-Source 1
(40,80)
217. Per capita gross national product in 1972 dollars (Q).—
Sources 1 and 2
(40,80)
220. National income in current dollars (Q).—Source
1
(45,82)
223. Personal income in current dollars (M).-Source
1
(40,63)
224. Disposable personal income in current dollars (Q).—
Source 1
(40,80)
225. Disposable personal income in 1972 dollars (Q).—
Source 1
(40,80)
227, Per capita disposable personal income in 1972 dollars
(Q).-Sources 1 and 2
(40,80)
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)
247. Gross private domestic investment, change in business
inventories, all industries, as a percent of gross national
product (Q).-Source 1
(47,83)
248. Gross private domestic fixed investment, nonresidentiaf,
as a percent of gross national product (Q).—Source
1
(47,83)
249. Gross private domestic fixed investment, residential, as
a percent of gross national product (Q).—Source
1
(47,83)
250. Net exports of goods and services in current dollars;
national income and product accounts (Q).—Source
1
(44,82)
251. Net exports of goods and services as a percent of gross
national product (Q).-Source 1
(47,83)
252. Exports of goods and services in current dollars;
national income and product accounts (Q).—Source
1
(44,82)
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)
311. Fixed weighted price index, gross business product
(Q).-Source 1
(48,84)
320. Index of consumer prices, all items (M)-Source
3
(49,59,84,95)
322. Index of consumer prices, food (M).—Source 3(49,84)
330. Index of producer prices, all commodities (M).-Source
3
(48,85)
331. Index of producer prices, crude materials for further
processing (M).—Source 3
(48,85)
332. Index of producer prices, intermediate materials, supplies, and components (M).—Source 3
(48,86)
333. Index of producer prices, capital equipment (M),~
Source 3
(48,86)
334. Index of producer {trices, finished consumer goods
(M).-Source 3
(48,86)
335. Index of producer prices, industrial commodities (M).—
Source 3
(48,85)
340. Index of average hourly earnings of production workers,
private nonfarm economy—adjusted for overtime (in
manufacturing only), interindustry employment shifts,
and seasonality (M).-Source 3
(49,87)
348. Negotiated wage and benefit decisions, all industriesfirst year average (mean) changes (Q).-Source
3
(50,88)
(45,82)
285. Rental income of persons with capital consumption
adjustment as a percent of national income (Q).Source 1
(47,83)
116
310. Implicit price deflator, gross national product (Q).Source 1
(48,84)
280. Compensation of employees (Q).—Source 1
282. Proprietors1 income with inventory valuation and capital
consumption adjustments (Q).-Source 1
(45,82)
239. Personal consumption expenditures, services, in 1972
dollars (Q).-Source 1
(41,81)
245. Gross private domestic investment, change in business
inventories, all industries, in current dollars (Q).—
Source 1
(42,81)
II-B. Prices, Wages, and Productivity
346. Index of real average hourly compensation, all
employees, nonfarm business sector (Q).-Source
3
(49,88)
284. Rental income of persons with capital consumption
adjustment (Q).-Source 1
(45,82)
243. Gross private domestic fixed investment, total, in 1972
dollars (Q).-Source 1
(42,81)
298. Government surplus or deficit, total (Q).-Source
1
(46,83)
268. State and local government purchases of goods and
services as a percent of gross national product (Q).—
Source 1
(47,83)
238. Personal consumption expenditures, nondurable goods,
in 1972 dollars (Q).-Source 1
(41,81)
242. Gross private domestic fixed investment, total, in
current dollars (Q).-Source 1
(42,81)
295. Business saving—undistributed corporate profits plus
capital consumption allowances with inventory valuation
and capital consumption adjustments (Q).—Source
1
(46,82)
341. Index of real average hourly earnings of production,
workers, private nonfarm economy—adjusted for
overtime (in manufacturing only), interindustry
employment shifts, and seasonality (M).--Source
3
(49,87)
237. Personal consumption expenditures, services, in current
dollars (Q).-Source 1
(41,81)
241. Gross private domestic investment, total, in 1972 dollars (Q).^Source 1
(42,81)
(46,82)
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)
283. Proprietors' income with inventory valuation and capital
consumption adjustments as a percent of national
income (Q).—Source 1
(47,83)
240. Gross private domestic investment, total, in current dollars (Q).-Source 1
(42,81)
292. Personal saving (Q).-Source 1
293. Personal saving rate—personal saving as a percent of
disposable personal income (Q).-Source 1 (46,83)
286. Corporate profits with inventory valuation and capital
consumption adjustments (Q).—Source 1
(47,82)
287. Corporate profits with inventory valuation and capital
consumption adjustments as a percent of national
income (Q).-Source 1
(47,83)
345. Index of average hourly compensation, all employees,
nonfarm business sector (Q),—Source 3
(49,87)
349. Negotiated wage and benefit decisions, all industriesaverage (mean) changes over life of contract (Q).—
Source 3
(50,88)
358. Index of output per hour, all persons, nonfarm business
sector (Q).-Source 3
(49,88)
370. Index of output per hour, all persons, private business
sector (Q).-Source 3
(49,88)
II-C. Labor Force, Employment, and
Unemployment
37. Number of persons unemployed, labor force survey
(M).-Sources 2 and 3
(18,51,62,89)
(45,82)
441. Total civilian labor force, labor force survey (M).—
Sources 2 and 3
(51,89)
289. Net interest as a percent of national income (Q).—
Source 1
(47,83)
442. Total civilian employment, labor force survey (M).—
Sources 2 and 3
(51,89)
290. Gross saving—private saving plus government surplus or
deficit (Q).-Source 1
(46,82)
444. Number unemployed, males 20 years and over, labor
force survey (M).-Souirces 2 and 3
(51,89)
288. Net interest (Q).-Source 1
TITLES AND SOURCES OF SERIES- Continued
445. Number unemployed, females 20 years and over, labor
force survey (M)-Sources 2 and 3
(51,89)
565. National defense purchases as a percent of gross
national product (Q)-Source 1
(55,91)
47. United States, index of industrial production, total
(M).-Source 4
(14,20,39,58,63,78,94)
446. Number unemployed, both sexes 16-19 years of age,
labor force survey (M).-Sources 2 and 3
(51,89)
570. Employment in defense products industries (M).Source 3; seasonal adjustment by Bureau of Economic
Analysis
(55,91)
320. United States, index of consumer prices, all items
447. Number unemployed, full-time workers, labor force
survey (M).-Sources 2 and 3
(51,89)
448. Number employed, part-time workers for economic
reasons, labor force survey (M).—Sources 2 and
3
(51,89)
451. Civilian labor force participation rate, males 20 years
and over (M).—Sources 2 and 3
(51,89)
577. Defense Department personnel, military, active duty
(EOM).-U.S. Department of Defense, OSD, Comptroller,
Washington Headquarters Services
(55,91)
578. Defense Department personnel, civilian, direct hire
employment (EOM).-U.S. Department of Defense, OSD,
Comptroller, Washington Headquarters Services(55,91)
453. Civilian labor force participation rate, both sexes 16-19
years of age (M)-Sources 2 and 3
(51,89)
580. Defense Department net outlays, military functions and
military assistance (M).-U.S. Department of Defense,
OSD, Comptroller, Directorate for Program and
Financial Control; seasonal adjustment by Bureau of
Economic Analysis
(54,91)
II-D, Government Activities
588. Value of manufacturers' shipments, defense products
(M).-Source 2
(54,91)
500. Federal Government surplus or deficit; national income
and product accounts (Q).-Source 1
(52,90)
II-E. U.S. International Transactions
501. Federal Government receipts; national income and product accounts (Q).-Source 1
(52,90)
602. Exports, excluding military aid shipments, total (M).—
Source 2
(56,92)
502. Federal Government expenditures; national income and
product accounts (Q).-Source 1
(52,90)
604. Exports of agricultural products (M).—Source 2;
seasonal adjustment by Bureau of Economic
Analysis
(56,92)
452. Civilian labor force participation rate, females 20 years
and over (M).-Sources 2 and 3
(51,89)
510. State and local government surplus or deficit; national
income and product accounts (Q).—Source 1 (52,90)
511. State and local government receipts; national income
and product accounts (Q).-Source 1
(52,90)
512. State and local government expenditures; national
income and product accounts (Q).—Source 1 (52,90)
517. Defense Department gross obligations incurred (M).—
U.S. Department of Defense, OSD, Comptroller,
Directorate for Program and Financial Control; seasonal
adjustment by Bureau of Economic Analysis (53,90)
525. Defense Department military prime contract awards for
work performed in the United States (M).-U.S.
Department of Defense, OSD, Comptroller, Washington
Headquarters Services; seasonal adjustment by Bureau
of Economic Analysis
(53,90)
543. Defense Department gross unpaid obligations
outstanding (EOM).-U.S. Department of Defense, OSD,
Comptroller, Directorate for Program and Financial
Control; seasonal adjustment by Bureau of Economic
Analysis
(53,90)
548. Value of manufacturers' new orders, defense products
(M).- Source 2
(53,90)
557, Output of defense and space equipment (M).— Source
(56,92)
614. Imports of petroleum and petroleum products (M).—
Source 2; seasonal adjustment by Bureau of Economic
Analysis
(56,92)
616. Imports of automobiles and parts (M).—Source 2;
seasonal adjustment by Bureau of Economic
Analysis
(56,92)
618. Merchandise exports, adjusted, excluding military grants
(Q).-Source 1
(57,93)
620. Merchandise imports, adjusted, excluding military
(Q).-Source 1
(57,93)
622. Balance on merchandise trade (Q).-Source 1 (57,93)
726. France, index of industrial production (M).—Institut
National de la Statistique et des Etudes Economiques
(Paris)
(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
(59,95)
736. France, index of consumer prices (M).—Institut
National de la Statistique et des Etudes Economiques
(Paris); percent changes seasonally adjusted by Bureau
of Economic Analysis
(59,95)
737. Italy, index of consumer prices (M).-Institute Centrale
di Statistica (Rome); percent changes seasonally
adjusted by Bureau of Economic Analysis
(59,96)
738. Japan, index of consumer prices (M).—Office of the
Prime Minister (Tokyo); percent changes seasonally
adjusted by Bureau of Economic Analysis
(59,95)
743. Canada, index of stock prices (M).-Statistics Canada
(Ottawa)
(59,96)
(Q).-Source 1
(57,93)
667. Balance on goods and services (Q).-Source 1(57,93)
669. Imports of goods and services, total (Q).—Source
1
(57,93)
725. West Germany, index of industrial production (M).—
Deutsche Bundesbank (Frankfurt)
(58,94)
652. Income on foreign investments in the United States
(54,91)
564. Federal Government purchases of goods and services for
national defense (Q).-Source 1
(55,91)
723. Canada, index of industrial production (M). -Statistics
Canada (Ottawa)
(58,94)
742. United Kingdom, index of stock prices (M).—The
Financial Times (London)
(59,96)
559. Value of manufacturers' inventories, defense products
(EOM).-Source 2
(54,91)
561. Value of manufacturers' unfilled orders, defense products (EOM).-Source 2
(54,91)
722. United Kingdom, index of industrial production (M). Central Statistical Office (London)
(58,94)
651. Income on U.S. investments abroad (Q).—Source
1
(57,93)
668. Exports of goods and services, excluding transfers under
U.S. military grants (Q).-Source 1
(57,93)
4
(48,59,84,95)
727. Italy, index of industrial production (M).—Institute
Centrale di Statistica (Rome)
(58,94)
606. Exports of nonelectrical machinery (M).-Source 2;
seasonal adjustment by Bureau of Economic
Analysis
(56,92)
612. General imports, total (M).-Source 2
(M).-Source 3
721. Organization for Economic Cooperation and
Development, European countries, index of industrial
production (M).—Organization for Economic Cooperation and Development (Paris)
(58,94)
II-F. International Comparisons
19. United States, index of stock prices, 500 common stocks
(M).-Standard & Poor's Corporation (13,28,59,69,96)
745. West Germany, index of stock prices (M).—Statistisches
Bundesamt (Wiesbaden)
(59,96)
746. France, index of stock prices (M).—Institut National de
la Statistique et des Etudes Economiques (Paris)
(59,96)
747. Italy, index of stock prices (M).—Institute Centrale di
Statistica (Rome)
(59,96)
748. Japan, index of stock prices (M).—Tokyo Stock
Exchange (Tokyo)
(59,96)
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