Full text of Business Conditions Digest : July 1969

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JULY 1969
DATA THROUGH JUNE

U.S. DEPARTMENT OF COMMERCE




BUREAU OF THE CENSUS

This report was prepared in the Statistical Analysis Division.
Technical staff and their responsibilities for the publication
are—
FeliksTamm—Technical supervision and review,
Barry A. Beckman—Specificationsfor computer processing,
Gerald F. Donahoe—New projects,
Morton Somer—Selection of seasonal adjustment methods,
Betty F. Tunstall—Collection and compilation of basic data.
(Telephone 440-1596)
Editorial supervision is provided by Maureen Padgett of the
Administrative and Publications Services Division.
The cooperation of various government and private agencies
which provide data is gratefully acknowledged. The agencies
furnishing data are indicated in the list of series and sources
at the back of this report.

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

This publication is prepared under the general guidance of
a governmental interagency committee established by the
Bureau of the Budget. This committee presently consists
of the following persons:

BUREAU OF THE: CENSUS
A. Ross Eckler, Director
Robert F. Drury, Deputy Director

Julius Shiskin, Bureau of the Budget
Chairman
William H. Branson, Council of Economic Advisers
A, Ross Eckler, Bureau of the Census
George Jaszi, Office of Business Economics
Geoffrey H. Moore, Bureau of Labor Statistics
Kenneth Williams, Federal Reserve Board

EDWIN D. GOLDFIELD, Assistant Director

ABOUT THE REPORT

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

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

nterpreting other
short-term fluctuations
n aggregate economic
activity.

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

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This monthly report brings together many of the economic time series found most useful by business analysts
and forecasters. Its predecessor, Bus/ness Cycle Developments, emphasized the cyclical indicators approach to the
analysis of business conditions and was based largely on
the list of leading, roughly coincident, and lagging indicators maintained by the National Bureau of Economic Research, Inc. Some other approaches commonly used by students of economic conditions include econometric models
and anticipations and intentions data. The econometric
model concept; utilizes historical and mathematical relationships among consumption, private investment, government,
and various components of the major aggregates to generate
forecasts of gross national product and its composition.
Anticipations and intentions data express the expectations of businessmen and the intentions of consumers.
Most of the content of Business Cycle Developments has
been retained in this new report and additional data reflecting the emphasis of other approaches have been added to
to make it more generally useful to those concerned with
an evaluation of current business conditions and prospects.
The use of the National Bureau's list of indicators and
business cycle turning dates in the cyclical indicators section of this report, as well as the use of other concepts, is
not to be taken as implying endorsement by the Bureau
of the Census or any other government agency of any particular approach to economic analysis. This report is intended only to provide statistical information so arranged
as to facilitate the analysis of the course of the Nation's
economy.
Almost all of the basic data presented in this report
have been published by their source agencies. A series
finding guide, as well as a complete list of series titles and
data sources, is shown at the back of this report.
address label. Make checks payable to the Superintendent of Documents. Send to U.S. Goveinm
Printing Office, Washington, D.C. 20402, or to any U.S. Department of Commerce Field Office,

BUI

New Features and Changes for This Issue..

METHOD OF PRESENTATION
Seasonal Adjustments
MCD Moving Averages
Reference Turning Dates
Section A. National Income and Product
Section B. Cyclical Indicators
Section C. Anticipations and Intentions
Section D. Other Key Indicators
Section E. Analytical Measures
Section F. International Comparisons
How to Read Charts
Summary of Recent Data and Current Changes

BUSINESS CONDITIONS DIGEST
JULY 1969
Data Through June
Series ESI No. 69-7




1
1
1
1
2
3
3
3
3
4
5

,

PART I. CHARTS
NATIONAL INCOME AND PRODUCT

Al
A2
A4

A7
A8
A9

Gross National Product
National and Personal Income
Personal Consumption Expenditures
Gross Private Domestic Investment..
Foreign Trade
Government Purchases of Goods and Services
Final Sales and Inventories
National Income Comporents
Saving

9
10
11
....12
.13
.,14
....15
:16
............17

„

CYCLICAL INDICATORS

Economic Process and Cyclical Timing
Employment and Unemployment
Production, Income, Consumption, and Trade
Fixed Capital Investment
Inventories and Inventory Investment
Prices, Costs, and Profits
Money and Credit
_
Selected Indicators by Timing
Composite Indexes
NBER Short List
,

_

-_

,

18
21
23
26
28
30
34
36

ANTICIPATIONS AND INTENTIONS
Aggregate Series
Diffusion Indexes

40
43

OTHER KEY INDICATORS

Foreign Trade
Balance of Payments and Major Components
Federal Government Activities
Price Movements

46
47
52
54

„

ANALYTICAL MEASURES

E2
E3

Actual and Potential Grdss National Product
Analytical Ratios
Diffusion Indexes

,

56
57
59

INTERNATIONAL COMPARISONS
Fl
J2.
F3

Consumer Prices..

61

Industrial Production
Stock Prices

.

62
63

PART II. TABLES
NATIONAL INCOME AND PRODUCT
_A1_|
A2
A3

Gross National Product
National and Personal Income
Personal Consumption Expenditures

A4
AS
A6
A7
A8
"A9|

Gross Private Domestic Investment
Foreign Trade
Government Purchases of Goods and Services
Final Sales and Inventories
National Income Components
Saving

64
64
65

'.

65
66
66
66
66
67

CYCLICAL INDICATORS
Economic Process and Cyclical Timing
Employment and Unemployment

68

Production, Income, Consumption, and Trade
Fixed Capital Investment
Inventories and Inventory Investment
Prices, Costs, and Profits
Money and Credit.,

.......70
71
73
,.74
75

Selected Indicators by Timing
Composite Indexes

77

ANTICIPATIONS AND INTENTIONS
Aggregate Series
Diffusion Indexes......

78
79

„

OTHER KEY INDICATORS
Foreign Trade

81

Balance of Payments and Major Components

...82

Federal Government Activities..
Price Movements...

84
..85

ANALYTICAL MEASURES
Actual and Potential GNP

86

Analytical Ratios
Diffusion Indexes
Selected Diffusion Index Components

87
88
91

INTERNATIONAL COMPARISONS
Consumer Prices....
Industrial Production
Stock Prices

-

97
98
99

APPENDIXES
A. MCD and Related Measures of Variability (See June issue)
QCD and Related Measures of Variability (See May issue)
B. Current Adjustment Factors
C. Historical Data for Selected Series
D. Descriptions and Sources of Series (Not shown this month)

101
102

E. Business Cycle Expansions and Contractions in the United States:
1954 to 1961 (See April issue)
Index—Series Finding Guide
Titles and Sources of Series




113
115

11

NEW FEATURES
AND CHANGES
FOR THIS ISSUE

Changes in this issue are as follows:

A limited number of
changes are made from
time to time to incorporate recent findings of economic
research, newly avail-

1. Revisions are shown from 1966 to date for the section on national income and product (section A) and for other national income
and product series in section B (series 16, 22, 52, 53> 57, and 68),
section D (series 600, 601, and 602), and section E (series 2(D7 and
854). Thesfe changes reflect the source agency's periodic revisions
of the national income and product accounts. Further information
concerning these revisions may be obtained from the U.S. Department
of Commerce, Office of Business Economics, National Income Division.

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

2. Series 17 (price per unit of labor cost) ahd series 62 (labor
cost per unit of output) are revised for the period Janizary H969 to
date to reflect revisions in national income and product data*
Further revisions of these series are being delayed pending tfte
annual updating of seasonal adjustment factors for their industrial
production Component by the Federal Reserve System.

result in revisions of
data, additions or
deletions of series,
changes in placement of
series in relation to
other series, changes

3. Data on balance of payments and major components (section D2)
have been revised to reflect the source agency's annual updating of
these statistics. Further information concerning these revisions
may be obtained from the U.S. Department of Commerce, Office of
Business Economics, Balance of Payments Division.
4* Series 1, 2, 3, 41, and 4-8, based on factory employment data,
have been Devised for the period January 1967 to date. These revisions reflect the source agency's adoption of a new benchmark
(March 1968) and new seasonal adjustments of original data.
Revised data for the period prior to 1967 will be shown in a subseqtuent issue.
Series D41 (diffusion index for employees on nonagricultural
pajTolls) is revised over 1- and 6-month spans from January 1967 to
date. However, diffusion indexes for series Dl (average workweek
of production workers, manufacturing) based on revised factory
Continued on page iv.
The August issue of BUSINESS CONDITIONS DIGEST is scheduled for release on August 29.



iii

in composition of
indexes, etc.

employment data are shown over 1-month spans for the latest 2 months
only. Revised diffusion indexes for the earlier periods of both
series will be shown in a subsequent issue.
Revised data for series 856, 858, and 859, which are based in
part on factory employment statistics, will be shown in a subsequent issue.
Additional information concerning these revisions may be obtained
from the U.S. Department of Labor, Bureau of Labor Statistics,
Division of Industry and Employment Statistics,
5. Appendix C includes historical data for the section on balance
of payments and major components (section D2) and for series 16, 22,
52, 53, 57, 68, 215, 217, 220, 222, 600, 601, 602, and 854.




IV

METHOD OF PRESENTATION
THS1

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

SJJlfn)

-jtlil []

wir
©If
the $eH

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

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



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

SECTION A

cial services received by them as income
in kind. The total purchase cost is covered,
including sales taxes. Home purchases are
excluded, but the estimated rental value
of owner-occupied homes is included.
Gross private domestic investment combines gross fixed investment and net
changes in business inventories, Fixed investment consists of producers' durable
equipment and private (as opposed to
government) structures, including owneroccupied residential units. The estimates
are gross in the sense that there is no
deduction for capital consumption. The
inventory component measures the change
in the physical volume of inventories ' alued at current replacement cost.
Net exports of goods and services measures
the excess of exports over imports of goods
and services. Exports include both domestic output sold abroad and the contribution to production abroad made by U.S.owned resources. Imports include both
U.S. purchases of foreign output and the
contribution made to production in the
United States by foreign-owned resources.
More detail on U.S. balance of payments
is provided in section D.
Government purchases of goods and services includes general government expenditures for compensation of employees, net
purchases from business and from abroad,
payments to private nonprofit institutions
for research and development, and the
gross fixed investment of government enterprises. Not included are current outlays
of government enterprises, acquisitions of
land, transfer payments, subsidies, loans,
and interest payments to domestic creditors.
A breakdown of the goods portion of GNP,
covering durable and nondurable goods
and both final sales and changes in business inventories, is also included in section
A. Other major aggregates taken from the
national income and product accounts are
described below.

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

National income is the total earnings arising from the current production of goods
and services and accruing to the labor and
property employed in production. The components of national income are compensation of employees, proprietors' income,
rental income of persons, corporate profits
and the inventory valuation adjustment,
and net interest.
Persona/ income measures the current income of individuals, owners of unincorporated businesses, nonprofit institutions,
private trust funds, and private health and
welfare funds. It consists of wage and salary disbursements, other labor income,
proprietors' income, rental income of persons, dividends, personal interest income,
and transfer payments to persons, less
personal contributions for social insurance.
Disposable personal income is the personal
income available for spending or saving.
It consists of personal income less personal taxes and other nontax payments
to general government.
Gross saving represents the difference between income and spending during an ac-

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

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

tool for analyzing current economic conditions and prospects. This is the cyclical
indicators concept, which singles out certain economic time series as being leaders, coinciders, or laggers in relation to
movements in aggregate economic activity. The NBER has, since 1938, maintained
a list of such indicators and has periodically subjected the list to extensive review. Their most recent (1966) list of 72
cyclical indicators is the basis for this section of BCD, These indicators were
selected primarily for their cyclical behavior, but they have also proven useful
in forecasting, measuring, and interpreting other short-term fluctuations in aggregate economic activity.
The NBER employs a dual classification
scheme which groups the indicators by
cyclical timing and by economic process,
and this report uses tha same classification groupings. The diagram below summarizes the cross-classification system
used in this section. The 72 cyclical indicators are presented with economic process as the principal basis of classification
and cyclical timing as the secondary basis.
The major processes are divided into minor
processes which exhibit rather distinct differences in cyclical timing. The timing
classification takes into account a series'
historical record of timing at business
cycle peaks and troughs. Leading indicators
are those which usually reach peaks or
troughs before the corresponding turns in
aggregate economic activity; roughly coincident indicators are direct measures of
aggregate economic activity or move roughly together with it; lagging indicators
usually reach their turning points after the
turns in aggregate economic activity.

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

Cross-Classification ©f Cyclical indicators by
Economic Process and Cyclical Timing
1. EMPLOYMENT
AND
UNEMPLOYMENT
(14 series)

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

Marginal employment
adjustments
(5 series)
LEADING INDICATORS
(36 series)

ROUGHLY COINCIDENT
INDICATORS

(25 series)

Job vacancies
(2 series)
Comprehensive
employment
(3 series)
Comprehensive
unemployment
(3 series)

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

Inventory investment
and purchasing
(7 series)

Investment
expenditures
(2 series)

INDICATORS

(11 series)




IV. INVENTORIES
AND
INVENTORY
INVESTMENT
(9 series)

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

Long-duration
unemployment
(1 series)
LAGGING

III. FIXED CAPITAL
INVESTMENT
(14 series)

t

Inventories
(2 series)

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

VL MONEY
AND CREDIT
(17 series)

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

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

Comprehensive
wholesale
prices
(2 series)

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

Unit labor costs
<2 series)

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

|

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

ANTICIPATIONS

AND
INTENTIONS
Most businessmen and many individual
consumers have some type of plans as to
their maj6r economic activities in the near
future. Information on these plans is regarded as a valuable aid to economic forecasting either directly or as an indication
of the state of confidence concerning the
economic outlook. In recent years, much
progress has been made in compiling such
information, and a number of surveys by
various organizations and government
agencies ascertain anticipations and intentions of businessmen and consumers. The
results of some of these surveys, expressed
as time series, are presented in this section of the report.
The business analyst who uses these series should be aware of their limitations.
These data reflect only the respondents'
anticipations (what thev expect others to
do) or intentions (what they plan to do),
not firm commitments. Among both businessmen and consumers, some responses
may not be very reliable; that is, the
plans may be conjectural or the respondent may make little effort to reply accurately to the survey questions. Also, many
plans are subject to modification or even
complete abandonment due to unforeseen and uncontrollable developments.
In some cases, the anticipations (or intentions) may have a systematic bias; for
example, the anticipations (or intentions)
data may tend to be lower than the subsequent actual data under certain economic
conditions and higher under other conditions. Sorhetimes they merely project what
has already occurred and hence appear to
lag behind actual changes. Actual data are
included in this section to indicate their
historical relationship to the anticipations
and intentions. Some of the series are diffusion indexes, a concept explained in the
description for section E.
SECTION D

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


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

SECTION E

ANALYTICAL
MEASURES
This section begins by comparing gross
national product in constant dollars with
a measure of potential GNP. In effect,
these two series reflect the relationship
between the economy's productive capacity and total demand, the excess of potential over actual GNP indicating the degree
to which potentially productive resources
are not fully utilized. The measure of potential GNP, developed by the Counci of
Economic Advisers in the early 196D's,
takes into account increases in both available man-hours and output per man-hour.
The NBER list of cyclical indicators includes some series which measure the relationship between different economic variables (for example, the series on labor qost

per unit of output). There are, however,
additional analytical ratios which have
proven useful in evaluating business conditions and prospects. A number of such
ratios are shown in the second part of
this section.
The third part presents diffusion indexes
for selected economic activities. Many of
the series throughout this report are aggregates compiled from a number of
components. A diffusion index is a simple
summary measure which expresses, for a
particular aggregate, the percentage of
components rising over a given timespan.
It reflects only directions of change among
the components, not magnitudes. Cyclical
changes in diffusion indexes tend to lead
those of the corresponding aggregates.
Since diffusion indexes are highly erratic,
long-term (6- or 9-month span) diffusion
indexes are shown to bring out the underlying trends and short-term (month-tomonth) indexes are shown to indicate the
most recent developments. Most of the
diffusion indexes are based on aggregate
series shown in section B, and have the
same series numbers preceded by the
letter "D". The diffusion indexes are classified according to the cyclical timing of the
aggregates to which they relate.
The final part (E4), which appears only as
a table, lists many of the components
used in computing the diffusion indexes.
Where possible, recent data for the components are shown and the month-tomonth directions of change are indicated.
SECTION F

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

HOW TO READ CHARTS
Peak (P) of cycle indicates end
of expansion and beginning of
Recession (shaded areas) as
designated by NBER.
Series numbers are for identification only and do not reflect
series relationships or order.

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

Basic Data

Trough (T) of cycle indicates end
of recession and beginning of
Expansion as designated by
NBER.
Arabic number indicates latest
month for which data are plotted.
("6" = June)
Roman number indicates latest
p quarter for which data are
/
plotted. ("IV" - fourth quarter)
Dotted line indicates anticipated
data.

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

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

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

Scale shows percent of components rising.
Solid line indicates monthly data
over 6- or 9-month spans,
Broken line indicates monthly
data over 1-month spans.
Solid line with plotting points indicates quarterly data over various spans.
*Many of the more irregular
series are shown in terms of their
MCD moving averages as well as
their actual monthly data. In such
cases, the 4-, 5-, or 6-term moving averages are plotted iy2) 2,
or 2l/2 months, respectively, behjnd the actual data. See appendix A for a description of MCD
moving averages.

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

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



Table 1. Summary of Recent Data and Current Changes for Principal Indicators
Basic data1
Unit
of
measure

Series title

1966

1967

1968

IstQ
1968

Percent change

2dQ

3dQ

4th Q

IstQ

2dQ

1968

1968

1968

1969

1969

3dQ
to
4th Q
1968

4th Q
to
IstQ
1969

IstQ
to
2(1 Q
1969

|

A. NATIONAL INCOME AND PRODUCT

I'OO
!'05
J'10.
i!15.
I'17

Al. Gre-tti Notional Product
GNP in current dollars
GNP in 1958 dollars
Implicit price deflator
Per capita GNP in current dollars
Per capita GNP in 1958 dollars

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

925.1
727.3
127.2
4,556
3,563

1.8
0.8
1.1
1.6
0.5

1.6
0.6
1.2
1.6
0.4

1.8
0.6
1.2
1.6
0.3

200
205
210
215
217

751.3

NA

724.4

610.7
503.0

740.7
623.0
507.0

1.8
2.2
1.8
0.6

1.9
1.9
1.1
0.2

NA
2.3
2.0
0.8

220
222
224
225

2,991

3,016

3,070

1.5

0.8

1.6

226

2,47T

2,485

2,484

2,498

0.3

0.0

0.6

227

530.3
449.0

544.9
458.2

550.7
457.6

570.7

1.1

79.5
51.1
28.4

81*8
52.6
29.2

85.8
54.1
31.7

66.3
54.9
31.4

562.0
462.9
88*4

2.1
1.2
2.4
4.7

230*6
222.8

226.1
215.1

228.5
220.0

233.9
225.8

234.3

1.5
NA
2.3
NA
NA
0.6
2.0

230
231
232
233
234
236
237

126.3

119.4

126.6

125.2

3.5
2.8

240
241
242
243
244
245

876.4
712.8
122.9
4,350
3,538

892.5

908.7

718.5
124.2
4,418
3,557

723.1
125.7
4,488
3,571

680.1
587.4
497*4

724.1
696.1
593.4
498.9

737.3
711.2
604.3
502.1

2,869

2,924

2,946

2,474

2,455

2,476

536*6
452.6

520*6
445*6

48.1
24.9

83.3
53.2
30.2

188.6

215.1
204*2

121.4

116*0

81.6
28.5
53.1
25.0
14.8

83.7

835.3
693.3

858.7
705.8

3,517

120.5
4,168
3,459

121.7
4,274
3,513

714.4
687.9
590*0
497.6

668.8
664.3
575.0
492*1

707.4

511*9
458.9

654.0
629.4
546.5
477.7

2,599

2,745

2,933

2,331

2,399

Ann.rate.bil.doU
do
do
do
do
do
do

466.3

492*3
430*3
73*0

do
<to
do
do
do
do

A2. Notional and Personal Incomt
;70 National income current dollars ......... Ann.rat«,bM.dol.,
do ......
do
!!24. Disposable personal income, current dol . . .
do
JI25, Disposable personal income, constant dol . .
226, Per capita disposable personal income,
Ann. rate, dol ...
current dollars
J!27, Per capita disposable personal income,
do
constant dollars

750.0
658*1

113.9
3 1 807
3,341

620.6
587.2

793.5
674.6

117.6
3,984
3,388

865.7
707.6
122*3
4,302

A3. Personol Consumption Expenditures

J'31.
'^32
m.
?34.
!>36.
?37

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

418.1
70.8
45.4
25.3

206.9

57.5
30.9

NA
90.4

HA
NA

-0.1

0.6
1.9
-0.9

-1.6

230.1

238.6
235.0

240.6
239.8

0.4
1.9

1.8
2.1

133.9

135.2

139.9

6.9
3.9
3.8
3.9
6.7
3.3

1.0
4.2
7.3
2.6
4.4

A4. Gross Private Domestic Investment

!>40
?41.
;!42.
M3.
;M4.
£45,

Gross private domestic investment, total . . .
Fixed investment, total nonresidential
Fixed investment, nonresidential structures.
Fixed investment, producers' dur. equip. ...
Fixed investment, residential structures . . .
Change in business inventories, total . —

88.8

27*9

29*3

55.7
25.0

59.5

7.4

30*2

7.3

89.1
29.8
59.4
28.6

1.6

86.4
28.3
58.1
30.3

9.9

68.1
29.0
59.1
29.9

7.2

91.5
30.1
61.4
31.9
10.5

95.3
32.3
63.0
33.3

6.6

9B.O
31.6
66.3
32.4

9.5

-3.9

-2.2

5.2
-2.7

2.9

AS, Foreign Trade
ico

Fxnnrte

*

253 Imports . . «

•

do
do., . « « .
do

5.3
43.4
38.1

5.2

2.5
50*6

1.9

46.2
41.0

48.1

47.7
45.9

3.4
50.7
47.3

3.6

1.2

1.5

2.0

53.4
49.7

50.6
49.4

47.6
46.1

58.6
56.6

202.5
100*9

206.7

210.0
101.6

212.5
100.6

-2.4
-5.2
-0.6

0.3
-5.9
-6.7

0.5
23.1
22.8

250
252
253

A6, Government Purchases of Goods
and Services

do
do
do
do

260, Total
262 Federal . . *

198.4

180.1

200.3

193.4

77.8
60.7
79.0

90.7
72.4

99.5
78.0

89*3

100.7

96.3
76.1
97.1

99.0
77.9
99.4

... ,do

146.2

157*0

171*4

166.4

.do
do

10.5

3.9
234.1

5*3

222.3

252.3

do

4.3

3.5

2.0

435.5

467.4

20.0

82*4

61.9
20.8
79.2

21.4

24*7

124.9

119.2

32.5

40.4

156.8

78.8

101.9
79.3

79.0

101.7

104.8

108.5

168.9

173.7

176.6

181.6

1.9

6.8

4.8

250.4

5.1
256.1

7.4

246.5

256.4

3.1

2.1

507.0

21.1
82.5
26.7

63.6
21.2
88.2
27.5

128.4

120.5

128.8

38.4

39.9

42.:

24.8
68.6

23.4

20.4
71,7

24.1
73.0

-14.5

-6.7

-11.5

-1.7

-7.7

-3.7

78.7

111.9

2.1
1.0
0.*
3.0

3.5

3.1

260
262
264
266

2.8

NA

270

NA
NA

271
274

NA

275

2.2
3.3
0.5
NA
1.7

280
282
264
286
286

NA

290
292

1.6
-0.3
-0.4

1.2
-1.0
-0.4

A7. Final Sales and Inventories

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

-0.3

NA

1.7

NA
NA

2.3
0.1

-2.6

259.7

3.1

1.8

NA

1.0

-1.3

519*8

532.3

546.0

556.0

64.1
21.2
90.6
28.4

64.1
21.4
90.3
29.3

64.6
21.5
89.5
29.8

66.7
21.6

2.4
0.0
0.9

129.1

135.4

138.5

1.3

A8. Notional Income Components

do
;:::;do:::.::
do
286, Corp. profit;* and inventory valuation adj. . .
288 Net Interest

do
do

513.6
63.8
21.2
87.9
27.9

495.1
63*2

NA
30.3

-0.3

2.6
0.8
0.5
-0.9

3*2

1.7

4.9
14.5

2.3
-13.2

-7.8

-7.6

A9. Saving

do
... do
294! Undistributed corporate profits plus
inventory valuation adjustment
. ..
296, Capita) consumption allowances f 2
298. Government surplus or deficit, total

do
do
do

27,4
63.9

El. Act i;o 1 and Potential GNP
207, GNP gap (potential less actual)2

do

-11.0




1*1

73*3

NA

33.2

38.0

33.0

36.4

23.6
74.6
-0.9

21.8
75.9

77.2

-10.8

25.6
73.7
-3.5

-9.4

-9.5

-8.3

-5.9

7.8

NA
NA

-3.0

10.3

1.2
2.6

1.7
8.7

NA
1.7
NA

294
296
298

1.2

2.4

2.9

207

Basic data x
Unit
of
measure

Series title

1967

1968

4th Q
1968

IstQ
1969

Percent change

2dQ
1969

Apr.
1969

May
1969

June
1969

Apr.
to
May
1969

May
to
June
1969

4th Q
to
IstQ
1969

IstQ
to
2dQ
1969

Series number

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

B. CYCLICAL INDICATORS
B7. Composite Indexes

810. 12 leading indicators, reverse trend adj. , .1963-100
do.. .
820. 5 coincident indicators
do
830. 6 lagging Indicators

126*9
143*2
150.9

138.4
156.6
164.8

144.0
161*8
171.0

145*6
165.8
179.0

148.3
169.1
185.1

148.5
167.7
183.5

147*9
169.0
185.7

148*6
170.6
186.1

-0.4
0*8
1*2

0*5
0*9
0*2

1*1
2*5
4.7

1*9
2*0
3*4

810
820
830

100.2
107.1
101.0
114.6

101.6
114*2
101.8
116*6
102*2

101.1
118.5
102.4
118.5
104.2

100.5
118.9
103*6
118*4
101*7

100*8
118.3
105.3
118*8
NA

101.6
119.9
106.0
118.2
104*5

100*1
117. 9
105*7
119.9
101.6

100.6
117.1
104.3
118*4
NA

-1.5
-1*7
-0*3
1*4
-2.8

0.5
-0.7
-1*3
-Ui
NA

-0*6
0.3
1*2
-O.I
-2.4

0.3
-0.5
1.6
0.3
NA

813
614
815
816
817

-0.2
-5.5
-0.1

0*0
7*7
NA

-0.7
-1.8
0*0

0.5
0.1
NA

LEAD/NO INDICATOR SECTORS

813.
814,
815.
816,
817,

Marginal employment adjustments .
Capital investment commitments
Inventory investment and purchasing
Profitability
Sensitive financial flows

...

do
do
do
do
do

98.3

Bl. Employment and Unemployment
LEADING INDICATORS

Marginal Employment Adjustments:
*1. Average workweek, prod, workers, mfg
*4, Nonagri. placements, all industries
2, Accession rate, manufacturing2
5. Avg. weekly initial claims, State 3
unemployment insurance (inverted )
3. Layoff rate, manufacturing (inverted3)2, , .

Hours
Ann, rate, thous.
Per 100 employ..

40.6

40.7

40.5
5,352
4.7

40.8

5,716
4.6

40*8
5,452
4*7

40.7

5,817
4.4

5,356
NA

5,424
4*9

40.7
5,124
4.8

40*7
5,520
NA

Thousands
Per 100 employ . .

225
1.4

194
1.2

189
1*1

183
1.1

186
NA

176
1*0

180
1.1

201
NA

-2.3
-0*1

-11.7
NA

3.2
0.0

-1.6
NA

5
3

Thous., EOP....
1957-5^100 ....

348
182

373
200

373
220

365
228

383
218

377
227

387
217

383
209

2.7
-4*4

-1*0
-3*7

-2.1
3.6

4*9
-4.4

49
46

134.6
67*8

136*0
68.7
72.7

137*0
69*5
73.8

139*1
70*0
73*8

138*4

139.1
70.0
73.5

0.5
0.3
-0.5

0.4
0*3
0*7

0.7
1.2
1*5

1.5
0.7
0.0

48
41
42

1
4
2

ROUGHLY COINCIDENT INDICATORS

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

Comprehensive Employment:
48. Man-hours in nonagrtcultural
Ann, rate, billion
establishments.
man-hours
Millions
*41, Employees on nonagri, payrolls. , ,
(JO
42. Persons engaged in nonagri activities , * .
Comprehensive Unemployment:
*43, Unemployment rate, total (inverted3)2. , . . Percent
45. Avg. weekly insured
unemployment
do
rate (inverted3)2
»
40. Unemployment
rate,
married males
3 2
do
(inverted ) ..,
,..

131.4
65.8
70.5

72.1

69.8
73.9

139.7
70.2
74.0

3*8

3*6

3.4

3.3

3.5

3.5

3*5

3*4

0.0

2.5

2*2

2.0

2*1

2.0

2.0

2*0

2.1

0*0

1.8

1.6

1.5

1*4

1*5

1.5

1*5

1.5

0.0

0.0

0.6

0.5

0.4

0.4

0.5

0.5

0.5

0.5

0*0

793.5
674.6
158.1

865.7
707.6
165.4

892.5
718.5
167.4

908.7
723*1
170.2

925.1
727.3
172.8

171.7

172.7

173*9

Comprehensive Income:
*52. Personal income
Ann, rate, bil. dot, 629.4
53, Wages, salaries in mining, mfg,, constr . . .
do
163.8

687*9
178.6

711.2
184*9

724*4
188.5

740.7
193.4

735.6
192*1

740.3
193*1

746.2
194.9

Comprehensive Consumption and Trade:
*56. Manufacturing and trade sales
57. Final sales
*54. Sales of retail stores

do
1,068
do
786.2
do . ... 314*0

1,163
858.4
338.9

1,194
882.0
343*4

1,212
902.1
348.8

NA
915.6
350*2

1,228

1,237

NA

353*3

350*0

347.2

-0.9

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

1957-59=100.... 107.7
Ann, rate, thous. , 207.8

117.8
233*2

124*2
251.4

124.7
256*5

NA
NA

123.9
281.6

123.1
278.8

NA
NA

-0.6
-1.0

New Investment Commitments:
*6. New orders, durable goods industries
8, Construction contracts, total value
*10, Contracts and orders, plant, equipment , .
11. New capital appropriations, manufacturing.
24. New orders, mach, and equip, industries .
9, Construction contracts, commercial
and industrial buildings,
7. Private nonfarm housing starts
*29. New bldg, permits, private housing

Ann,rate,bil,dol . . 302.3
1957-59=100....
155
.Ann. rate, biLdol. . 75.4
do
23*0
.
do
63.0
Ann. rate, mil. sq.
ft.floor space , .
703
Ann. rate, thous, , 1,273
1957-59=100....
95.6

334.5
174

355.9
187
93.0
27*0
75.5

359.4
191
93.3
26.4
76.5

360.1
191

371.3
183

96.4

99*1

360.0
210
96.1

349.1
180

85.0
24*1
69.7

93.8

-3*0
14*8
-3.0

NA
80*2

85.2

77.2

78.2

-9.4

793
1,498
112.9

883
1,579
118.9

912
1,692
119.8

922
1,487
115.6

790
1,548
125.5

1,027
1,491
110.6

949
1,423
110.8

30*0
-3.7
-11.9

84.07
20,02

84.07
20.02

85.16
20.17

85.89
NA

66.46

86*88

85.69

0*5

0*1

-0.1

0*1

-0*1

-0.2
0*1

43
45

0.1

-0.1

40

0.0

0*0

-0*1

44

0.6

0.7

1*6
0*6
1.7

1*8
0.6
1.5

200
205
47

0.6
0*5

0.6
0.9

1*9
1*9

2*3
2*6

52
53

NA

1.5
2*3
1.6

NA
1*5
0*4

56
57
54

NA
NA

0.4
2.0

NA
NA

12
13

-3.0
-14.3
-2.4
1.3

1.0
2*1
0*3
-2.2
1*3

0*2
0*0
3.3
NA
4*6

6
8
10
11
24

-7.6
-4.6
0*2

3*3
7*2
0.6

1*1
-12.1
-3.5

9
7
29

-1*1

1*3
0*7

0.9
NA

96
97

LAGGING INDICATORS

Long Duration Unemployment:
* 44, Unemployment rate,
15 weeks and
over (inverted3)2

do

B2. Production, Income, Consumption,
ond Trade
ROUGHLY COINCIDENT INDICATORS

Comprehensive Production:
*20Q. GNP in current dollars
*205. GNP in 1958 dollars
*47, Industrial production

Anruate.bil.dol..
do
1957-59=100 ....

0.7

-0.6

B3. Fixed Capital Investment
LEADING INDICATORS

ROUGHLY COINCIDENT INDICATORS

Backlog of Investment Commitments:
96, Unfilled orders, durable goods industries4. Bil, dol., EOP...
97. Backlog of capital approp. mfg,4
do




80.58
20.41

|

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

1967

1968

4th Q
1968

IstQ
1969

Percent change

2dQ

May
1969

Apr.
1969

1969

Apr.
to
May
1969

June
1969

May
to
June
1969

4th Q
to
IstQ
1969

Series number

Unit
of
measure

IstQ
to
2dQ
1969

B, CYCLICAL INDICATORS--Con.
B3. Fixed Capitol Investment-Con.
LAGGING INDICATORS

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

61*69
76.90

64.11

65.90

68.90 a72.00

82.69

86.61

90.58

NA

88.84

89.46

NA

0.7

NA

4,6

4,5

61

4.6

NA

6<

-3,9

2,9

24!

B4. Inventories and Inventor/ Investment
LEADING INDICATORS

Inventory Investment and Purchasing:
245. Change in business inventories, all
industries2.
•31. Changs in book value, manufacturing

Ann. rate, billion
rinllar*

. . . . . do
37, Purchased materials, percent reporting
2
higher inventories
•
»•• Percent
20, Change in book value, manufacturers'
Ann. rate, billion
inventories of materials, supplies2 .
dollars
26, Buying policy, production materials,
2
commitments 60 days or longer ® . . .forcent
.
32, Vendoj performance,2 percent reporting
slower deliveries ®
25, Change in unfilled orders, durable goods Ann.Vate.bimoft' '
dollars
industries2.

f.

6*6

10.1

12*6

10.5

NA

12.9

11.2

NA

-1.7

NA

-2,1

NA

31

49

52

50

3

-2

3

4

3*

44

51

43

46

50

0*1

1*4

0.1

1*1

NA

1.3

2*8

NA

1.5

NA

1,0

NA

2(

61

59

65

65

64

66

-1

2

-2

6

24

65

64

44

53

2.6

3.5

143.8

153.9

56
14*0

61

69

68

69

70

5

8

3;

4.3

2.9

15.6

5*0

-11.9

-10.6

-16.9

-9.7

-1,4

2

156.5

NA

158.5

NA

0,6

NA

1.7

NA

7

1.6

NA

6

6.0

4.6

2

-4.1

0*8

1

0.2

NA

1

1

1

LAGGING INDICATORS

Inventories:
*71. Book value, mfg. and trade inventories * . , Bit. dot., EOF ...
65. Book value, manufacturers' inventories
do
of finished goods*
.

26,81

29.13

97.8

153.9

157.6

29.13

29.61

NA

29.98

30.41

NA

1.4

NA

99.5

105*5

110.4

109.3

110.4

111.6

1.0

1.1

101.3

104.6

99.1

3.3

85. Prices, Costs, and Profits
LEADING INDICATORS

Sensitive Commodity Prices:
*23 Industrial materials prices©

1957-59-100

100.4

Stock Prices;
*19. Stock prices 500 common stocks©

1941-43-10

91*9

98.7

105.2

100*9

101.7

Ann. rate, bit. dol.

47.3

49.8

51.6

51.7

NA

11.9
5.0
100*7

11.4
5.1
99.2

11.4
5.1
98.7

11*2
5.0
99.8

NA
NA
100.0

99.6

100*1

100.4

0*5

0.3

-0,2
-0.1
1.1

NA
NA
0,2

2
1
1

106.3
106.7

109.0
109.4

109.9
110.3

111.4
111*7

112.2
112*8

112.1
112.4

112.2
112.8

112.2
113.2

0,1
0,4

0.0
0.4

1.4
1.3

0.7
1.0

5
5

0.706
106*0

0.723
110*3

0.732
111.8

0.745
112.0

NA
112.8

112.9

112.7

112.8

-0.2

0.1

1.8
0.2

NA
0.7

6
6

10.5

8.6

11.6

-2.4

20.0
8*9
7.6
79.4

22.5
10.2
12*0
94*6

21.6
8.3
10.3
89.5

-0.5
2*7
NA
NA
10*8
NA

4.6
10.6
22.0
9.1
16.2

-3.6
-3.1
21.1
10.2
9.1

-2.4
0*6
NA
NA
7,2

-8,2
-13.7
-0.9
1*1
-7.1

1*2
3.7
NA
NA
-1.9

-14.0
-5.8
-0.9
-1.9
-1*7
-5.4

1.9
0.9
NA
NA
0.5
NA

9
8
3
11
11
11

0*94

0.83

1.00

1.21

1.43

1.11

1.10

22*4

0.9

-20.5

-21.0

1

1.71

1.71

1.51

NA

1.60

NA

NA

NA

NA

0.20

NA

3

-207

-241

-592

-1,102 -1,096

258

-6

351

422

9

5.34
6.84
5.26
4.45

5*58
7.05
5*42
4.64

6.14
7.46
5.88
5.03

6.49
8.04
6.05
5.76

-0.07
0.08
0.01
0*14

0.41
0.42
0.20
0.43

0.56
0.41
0.46
0.39

0.10
0.27
0,03
0.40

11
11
11
11

Profits and Profit Margins:
22, Ratio, profits to income originating,
fftrnnrato all inrtuctripc^

Pprrpnt

15. Profits (after taxes) per dol. of sales, mfg,2 r>(mfc
*17. Ratio, price to unit labor cost, jnfg
1957-59=100....

-5*3

ROUGHLY COINCIDENT INDICATORS

Comprehensive Wholesale Prices:
55. Wholesale prices, indus. commodities ® . 1957-59=100 ....
do
58, Wholesale prices, manufactured goods <g) .
LAGGING INDICATORS

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

nnllarc

1957-59=100 ....

B6. Money ond Credit
Lf ADJNG INDICATORS

Flow* of Money and Credit:
98. Change in 2money supply and time
Ann. rate, percent
deposits
.do ....
85, Change in money supply22
Ann. rate, bil. dol.
33 Change in mortgage debt
2
do
*H3. Change in consumer installment
debt . . .
do
112, Change in business loans 2
do .......
110. Total private borrowing

16.7
3.2
4.4
66.4

Crtdit Difficulties:
1*27
do
14, Liabilities of business failures (inv?)<§>.
39. Delinquency3 rate,
installment loans
Percent, EOP . . . 1.74
(inverted )2 4
ROUGHLY COINCIDENT INDICATORS

Bank Reserves:
93, Freereserves(inverted ^)2 <§) ......**. Million dollars...
Money
114
116,
115,
117.

Market Interest Rates:
Treasury bill rate 2 <§)2
Corporate bond yields ®
Treasury bond yields22<Q
Municipal bond yields <ffi




percent
do
do
do

194

4.33
6.08
4.85
3.94

-1,014

6.24
7.73
5.91
5.43

-844
6.15
7.54
5.84
5.19

6*08
7.62
5.85
5.33

j

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

1967

1968

4th Q
1968

IstQ
1969

2dQ
1969

Percent change
Apr.
1969

May
1969

June
1969

Apr.
to
May
1969

May
to
June
1969

4th Q
to
IstQ
1969

IstQ
to
2dQ
1969

Series number

Series title

Unit
of
measure

B. CYCLICAL INDICATORS~Con.
B6. Money and Crtdit-Con.
LAGGING INDICATORS

Outstanding Debt:
66, Consumer installment debt4

79.2
65.1

88.1
72.3

88.1
72.3

90.2
74.7

NA
77.0

90*9
76.7

91.8
77.2

NA

1.0

NA

2.4

NA

rtn

6<
7-

Interest Rates on Business Loans and Mortgages:
*67. Bank rates on short-term bus.2 loans 2<§). . . Percent
do
118. Mortgage yields, residential ®

6.00
6.56

6.68
7.19

6.61
7.38

7.32
8.02

7.86
8.16

8.06

8*06

8,35

0.00

0.39

0*71
0.64

0.54
0.14

t*
111

Bil.dol., EOP...

D. OTHER KEY INDICATORS
D1. Foreign Trod*

500. Merchandise trade balance2

Ann. raterbil.dol..

o.i

1.0

0.2

-0.3

0.9

0.2

0.3

-1.9

-0»5

1.2

501

31*0

34.1

34.3

30.3

39.4

40.3

39.5

30*6

-2.0

-2.3

-11.7

30.0

so;

10.8
230
26.9

12.3
241
33.1

13*1
238
34*1

13.4
241
30*6

NA
NA
38*6

13.3
248
38.1

14.6
243
39.3

NA
NA
36.3

9.8
-2.0
3.1

NA
NA
-2*5

2.3
1.3
-10.3

NA
NA
26.1

504
50
51,

do ..... -3.54
do
-3.42

0.09
1.64

3.46
1.47

-6.82
4.60

NA
NA

-10.30
3*13

NA
NA

52(

do

-12.7

-5.2

-0.1

9*1

NA

9.2

NA

601

do

151.1

176.3

187.3

198.1

NA

5.6

NA

60

163.8
72.4
81.0
26.1
42.5
NA
42.3

181*5
78.0
86.6
28.9
47.5
NA
42.3

187.4
79.3
85*6
27.1
50.0
26.6
44.4

189.0
79.0
85.5
24.2
48.9
25.2
39.6

190.5
78.7
NA
NA
42.6
20.5
NA

76.1
17.3
48.2
25.0
31.7

75*3
15.6
45.7
21.5
32.1

NA
NA
33.6
15.0
NA

-1.1
-9.6
-5.2
-14,0
1.3

NA
NA
-26*0
-30.2
NA

0*9
-0*4
-0.1
-10*7
-2.2
-5.3
-10.8

0.8
-0.4
NA
NA
-12.9
-18.7
NA

26'
611
621
6V
641
62!

781. Consumer prices all items ©
1957-5^100.... 116.3
do
750. Wholesale prices, all commodities ® ....
106.1

121.2
108.7

123.3
109.5

124.8
111*2

126.9
112.6

126.4
111.9

126.8
112.8

127.6
113.2

0.3
0.8

0*6
0.4

1.2
1*6

1.7
1*3

78]
751

85.3

84.5

84.2

64*5

84.6

0*3

0.1

85(

1.58

1.54

1.54

1.54

NA

1.54

1.54

NA

0.0

NA

0*0

NA

85]

3.48

3.31

3.26

3.20

NA

3.24

3.26

NA

0.6

NA

-1.6

NA

ss;

120.8

121.0

0.8

0.2

-0.1

1.5

as:

-14.3

7.4

85-

-1.4
NA

85!
85(

do
502. Exports excluding military aid . . . +
506. Export orders, durable goods except motor
do
vehicles
f
508. Export orders, nonelectrical machinery — 1957-59^100....
Ann. rate, bil.dol..
512, General imports
*

4.1

2.1

D2. U.S. Balance of Payments

520. Liquidity balance basis2 2
522. Official settlements basis

52;

D3. F«d«rol Govammtnt Activitits

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

do
do
do
do
do
do
do

eo;

D4. Pric« Movtmonts

E. ANALYTICAL MEASURES
E2. Analytical Ratios

850. Ratio, output to capacity, manufacturing2. . Percent
851. Ratio, inventories to sales, manufacturing
and trade
Ratio
852, Ratio, unfilled orders to shipments, mfrs.'
do
durable goods industries
853. Ratio, production of business equipment
to consumer goods
1957-59-100....
854. Ratio, personal savings to disposable
personal income ... *
Ratio
.*
855, Ratio, nonagricultural job openings
unfilled to persons unemployed
do
858. Output per man-hour, total private nonfarm, . 1957-59^100
856. Real average hourly earnings, production
workers, manufacturing
1957-59 dollars..
859. Real spendable average weekly earnings,
nonagri. production or nonsupv. workers
.
.
do
857. Vacancy rate in total rental housing2®, . . Percent

123.3

118.4

118.8

118.7

120.5

0.074

0.065

0.063

0.054

0*058

0.139
134.8

0.139
134.4

0.137
NA

0.121
129.0

0.133
133.2

119.8

0*133

0*138

0.139

2.43

2.48

2.50

2.50

2.48

2.46

2.48

2.48

78.07
6.2

78.84
5*4

78.95
4.9

79*19
5.0

79.13
NA

79.24

79.04

79.10

3*8
0.0

-0.3

0.7

0.0
-0.3

0.10

0*0

-0.8

85<

0.1

0.3
0.1

-0.1
NA

85<
851

NOTE: Series are seasonally adjusted except for those indicated by®, which appear to contain no seasonal movement. "Series included in the 1966 NBER "short list" of indicators. NA = not available,
a = anticipated.
EOP = end of period.
^•In many eaoea, data shown hero are rounded to fewer digits or are in different units than those shown in the tables in part II. Where available, annual
figures are those published "by the source agencies or they are rounded from published figures; otherwise they (and the quarterly figures for monthly series)
are averages or totals of the data as shown in part II.
Differences rather than percent changes are shown for this series.
Inverted series. Since this series tends to move counter to movements in general "business activity, signs of the changes are reversed*
4
End-of-period series. The annual figures (and quarterly figures for monthly series) are the last figures for the period.




NATIONAL INCOME AND PRODUCT

Chart

Al

GROSS NATIONAL PRODUCT

(ftng »*•)
!P

(My)
P

I

Mr) (Apr.)
P T

t

M) (Fen.)
P !
1000"

T._^,—|—

800*

1

300 *

200. GNP in current dollars, Q (ann. rate, bil. lot.)
'i

i

.--'

?•" : i.

"

j>

'

:

j|

1

? "1

ii

!

!

1

,

^

i %
;

;

i -,/•;
*****

Current data for these series are shown on page 64.

JULY 1969




4.01

;

K/^ •' ^|' i i.

'!

;

i
'.'.

i!

241 Per capita GNP
.: "vi.
Xm
(arw.ratef th- ci! •

"

1

;

Section A

NATIONAL INCOME AND PRODUCT

Chart A2

NATIONAL AND PERSONAL INCOME

¥$)
P

(N9V.)

(Aug.)
f

W)
P

fe|

T

(W pfo.)
P I

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

222." Personal income^ current dollars, Q

224. Disposable personal income, current
J; dollars, Q (ana rate, btl. dol.)

ifepo^We persottg income. 1958 dojtafs
i (am. rate, bi. (tolj

3.8'

226. Per capita disposal personal income, current dollars
Q (am. rate, tbous, tteU

3.0'ii

m
227. Per capita disposabte personal incomd^ 1B58 dollars
Q (am. rate, thousTdol.)

51

S2

S3

54

SS

Current data for those series are shown on page 64.

10



JULY 1969

BCII

Section A

NATIONAL INCOME AND PRODUCT

Chart ASH PERSONAL CONSUMPTION EXPENDITURES

(Nov.) (Oct.)
P
T

(July)

(Au&)
T

(July) (Apr.)
F T

(May) (Fab.)
P T

Annual rate, billion dollars
Personal consumption expenditures230, Total current dollars, Q

231. Total, 1958 dollars, Q

232. Durable goods, total, current dollars, Q

233. Durable goods, total excluding automobiles,
current dollars, Q

234. Automobiles, current dollars, Q

236. Nondurable goods, total, current dollars, Q

237. Services, total, current dollars, Q

51

§§>

53

54

§S

§9

60

61

Current data for these series are shown on page 65.

BCII JULY 1969



11

Section A
Chart

f

A4

GROSS PRIVATE DOMESTIC INVESTMENT

f

j Annual rate, billion dollars (current]

Gross private domestic investment240. Total, Q

241. Nonresidential ftxed investment, total, Q

242. Nonresidential structures, Q

243. Producers' durable equipment, Q

244. Residential structures, a

245. Change in business inventories. Q

SI

Si

S3

34

§

Current data for those series are shown on page 65.

12



JULY 1969 an*

Section A
Chart A5

I FOREIGN TRADE

p.
f
...4-- ~,

P

I

P

T

Annlal rate, billion dollars (current)

250. Net exports of goods and services, Q

252. Exports of goods and services, Q

253. Imports of goods and services, Q

Current data for these series are shown on page 66.

ItCII JULY 1969



13

Section A
Chart

A6
A6

Q

NATIONAL INCOME AND PRODUCT
GOVERNMENT PURCHASES OF GOODS AND SERVICES

(July)
P

(Aug.)
I

(lull) (Apr,)
P T

(May) (red.)

f

I

Annual rate, billion dollars (current)

260. Federal, state, and local governments, Q

266. State am! total governments, Q

SS

Si

67

$i

®t) 1970

Current data for these series are shown on page 66.

14



JULY 1969

BCII

Section A
Chart A7

FINAL SALES AND INVENTORIES

(Oct.)
I

(Mj) .

Annual ratp, billion dollars [current)

270. Final sales, durable goods, Q

271. Change in business inventories, durable goods, Q

274. Final sates, nondurable goods, Q

__
___
t_
275. Change
in busin

S7

58

nondurable goods, Q

59

6©

Current data for these series are shown on page 66.

BCil JULY

1969




15

NATIONAL INCOME AND PRODUCT

Section A
Chart A8

1 NATIONAL INCOME COMPONENTS

(Nov.) (Oct)

P

(July)

P

T

(Aug.)

(May) (Feb.)

(JuW (Apr.)
P
T

I

P

I
•—i 1001

Annual rate, billion dollars current]

260. CompwsitkHi of employees, Q

282. Proprietors' income, Q

284, Rental income of persons, Q

286. Corporate proms and inventory valuation adjustment, Q

288, Net interest, Q

.

49

S©

51

52

33

84

§5

56

§7

§8

50

60

SI

(52

63

84

65

S7

SS

IJ

69 1S70

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

16



JULY 191*9

ltd*

Section A

NATIONAL INCOME AND PRODUCT
SAVING

(Nov.) (Oct.)

(July)

P

T

(July) (Apr.)
P
T

(Aug.)

T

(Way) (Feb.)
P
T

290. Gross saving (private and government], Q

294. Undistributed corporate profits plus inventory valuation adjustment, Q

.-2(H
1S48 49

SO

Si

32

S3

54

§5

56

5?

58

59

$0

61

62

63

65

60

©7

69 1970

Current! data for these series are shown on page 67.

KCII JULY

1969




17

Section

B

CYCLICAL INDICATORS

Economic Process and Cyclical Timing

EMPLOYMENT AND UNEMPLOYMENT

Chart Bl

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

(July) (Aug.)
P
I

(July) (Apr.)
P T

(May) (Feb.)
P I

*l. Amrage worinmk, produeftOft wafcars, manufacturing [hows)

% HwjncutturaJ pl^emerts, al industries (thousands

2. Accession rata wmufacturing l(m 100 emptoywts)

AVfrase we<*ly inttiaJ cti^t, State

I04S 49

50

51

52

53

54

55

56

57

58

insurance (thousarxfe-flvertw) scate)

59

€0

61

6?

63

64

65

66

67

6S

69 1970

Current data for those tar tot are shown on page 68.

18



JULY 1969

ItCIt

Section B

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

Roughly Coincident Indicators
(July)
P

(Noi) (Oct.)
P
T

i

HI IwBffHflS

(Aug.)
T

(July) (Apr.)
P T

(May) (Feb.)
P I

49. ^agricultural job openings unfilled [thousands)

46. Help-wanted advertising (index: 1957-59=100)

48, Wan-hours in nonagricultural establishments (ann. rate, bil. man-hours]

*41. Emcees on nonagriculturat payrolls (millions)

engaged in mm|plfiiitural activities ffl^ions]

1948 49

50

51

52

53

54

55

56

57

58

59

60

61

62

63

64

65

66

67

68

69 1970

Current data for these series are shown on pages 68 and 69.

JULY 1969




19

Section B

CYCLICAL INDICATORS Economic Process and Cyclical Timing

[chart Bljj EMPLOYMENT AND UNEMPLOYMENT—Con.

Roughly Coincident Indicators Con.
w.) (let)
1
• I

(Mas;} (IFefe.)

(July) (Ajnr.
P
IT

Comprehensive Unemployment

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

45. Average weekly tared unemployment rate (percent - inverted scale)

40. Unemployment rate, married males (percent - inverted scale)

Lagging Indicators
Long - Duration Unemployment

*44. Unemployment rate, persons unemployed 15 weeks and over (percent - inverted scate)

If

i©

SI

sa

S3

54

§§

56

§7

59

60

S3

64

69 1.970

Current data for those series are shown on page 69.

20



JULY

1969

ItCII

S Economic Process and Cyclical Timing

Section B
Chart

B2

PRODUCTION, INCOME, CONSUMPTION, AND TRADE

Roughly Coincident Indicators

P

7

896^
*200T GNP iircurrenfdollarsTQ (aim, rate, 61 dot.f"

690-

750 =
700 H <

*2Q5. GNP n 9 5 8 dollars,

*47. industrial production (index; 1957-59=100)

*52. Personal income lann. rate, bil. dol.)

o

53. Wages and salaries in mining manufacturing
cons!fuction"fal!n. rate, bif.

NOTE: For this economic process (i.e., Production, Income, Consumption, and Trade), no leading or logging indicators have as yet been selected.
Current data for these series are shown on page 70.

ICO JULY 1969



21

Section B

CYCLICAL INDICATORS Economic Process and Cyclical Timing

Chart B2j PRODUCTION, INCOME, CONSUMPTION, AND TRADE—Con.
Roughly Coincident Indicators—Con.
(Nov.) (Del)
P
T

(My)
P

(May) (Feb.}
P T

(July) (Apr.J
P I

(Aug.)
T

•56. Manufacturing and trade sales (bi. dol.)

57, Final sates (series 200 minus serkss245), Q (arm. rate, bit. dot.)

*54. Sales of retail stores (bit dol.]

1948 49

SO

51

§2

53

54

55

56

57

58

59

60

61

62

63

64

65

66

67

68

69 1970

NOTE: For this economic process (I.e., Production, Income, Consumption, and Trade}, no leading or lagging indicators have as yet been selected.
Current data for these series are shown on page 70.

22



JULY 1969

ItCII

Section B

CYCLICAL INDICATORS Economic Process and Cyclical Timing
FIXED CAPITAL INVESTMENT

Leading Indicators
((tow.) (tetj
P
T

*12, Net business formation |index: 1957-59=100)

13. New business incorporations (thousands)

*6. New orders, durable goods industries [nil, dol)
fL ; 1

' ' ' ' ••• n "- i ff--- U -—• ^-k-.u.^i. r--.-.^-"f-..

•;;.-._.;-- - - . . -

jv...-._.'

V---

8. Construction contracts; total value (index: 1957-59=100 ^__
MCD moving avg.-5-tehn)'
~~*

1048 49

SO

51

53

54

55

56

57

58

59

60

61

6a

63

64

65

©6

©7

68

if ii7©

'This is a copyrighted series used by permission; it may not be reproduced without written permission from McGraw-Hill Information Systems Company, F.W. Dodge Division.
Current data for these series are shown on page 7?.

KCII

JULY 1969




23

Section B

CYCLICAL INDICATORS Economic Process and Cyclical Timing

[ Chart B3j FIXED CAPITAL INVESTMENT—Con.
Leading Indicators—Con.
(Jiity) t*W
t

Watf (WW
P t

11. New eipttal appropriation manufacturing, Q |bH. dql)

24. New «Ntns, maclwwry an! wwipment industms (W.

9. Cofistyaction contracts, cippciJt atid industrial (mi. sq. ft.
of ftw ita; MCO moving
ffi*~

loyiitg j|M| [«•>. rate, mBom: MCD moving ivg.-5'-ttim[

*29. HewlSSnFpermits, povSTSoosing; units Tjndexf 1957-59=100j

'This Is o copyrtghtsd ««rl«t ui*d by ptrmlsslon; It may not b* rtproduc»d without written permission from McGraw-Hill Information Systems Company, F.W. Dodge Division.
Current data for those serlet are shown on pages 71 and 72.

24



JULY 1969

ItCII

Section B

CYCLICAL INDICATORS

Chart B3

FIXED CAPITAL INVESTMENT—Con.

Economic Process and Cyclical Timing

Roughly Coincident Indicators

Mr) (Aug.)

(Nov.) (let)
P
I

P

T

(July) (Apr.)
P

(May) (Kb.)

T

P

T

96. Manufacturers' urfjped orders, durable goods industries [bil. doj.)

\\

!!

:

97. Backlog of'capital appropriations; manufacturing Q [bil. dol.)

Lagging Indicators
Investment Expenditures

!

*B1. Business expenditures, new plant and equipment, Q [ann. rate, bil. dol.)

Maomnery and equipment safes and business construction
expenditures (ann. rate, bil. dol.)

JiJL.UL

^9

JLJUl

5@

§1

§2

S3

S7

_

58

10*

'Ui_

§9

6©

Current data for these series are shown on page 72.

IICII JULY

1969




25

Economic Process and Cyclical Timing

Section B
|[ Chart

B4 ] INVENTORIES AND INVENTORY INVESTMENT

Leading Indicators
IP

TT

Inventory Investment and Purchasing
245. Change in business inventories, all industries, Q |ann. rate, bil. dol.j

*31. Change in book value, manufacturing and trade inventories
"•Jim. rate, bIL dol; MCI) moving avg.-5-term)

37. Purchased materials, percent of companies reporting higher inventories

20. Change in book value, manufacturers' inventories of materials and supplies
l|ann. rate, bil. doL; MCD moving avg.-6-term)

26. Buying policy, prodtjctton materials, percent of companies
reporting commitimflts 60 days or longer

Cut-font data lor thoso sorlos arc shown on page 73.

26



JULY

1969

IICII

Section
B
_____

2YCUCAL BNDiCMOiS

Economic Process and Cyclical Timing

Fchart B4j INVENTORIES AND INVENTORY INVESTMENT—Con.

Leading Indicators—Con.

Inventory Investment and Purchasing - Con.

32. Vendor performance, percent of companies reporting slower deliveries

25. Change in unfilled orders, durable gotids industries
[bit. dol.; MCD moving avg.-4-termj

Lagging Indicators

*71. Bppk value, manufacturing and trade inventories (bil. dolj

65. BooK value of manufacturers1 inventories, finished goods [bil, dol.)

NOTE: For this economic process (I.e., Inventories and Inventory Investment), no roughly coincident Indicators have as yet been selected.
Current data for these series are shown on page 73.

BCD

JULY 1969




27

IS Economic Process and Cyclical Timing

Section B
Chart

o

B5

PRICES, COSTS, AND PROFITS

Leading Indicators

Sensitive Commodity Prices

H48-

*19. Stock prices, 500 common stocks (index: 194143=101

"i""""'"".....l
*16. Corporate profits after taxes, Q (am. rate, bit. dol.)

22. Ratio, profits (after taxes) to income originating,
,

,

BalitsJMtei taxesLp Mif ol Hlt^wfi.^*. QJcentsi

•-—4—

*17. Ratio, price to unit labor cost, manufacturing (index: 1957-59=100)

49

B@

SIL

Si

B3

S4

Bi

Si

57

Current data for those series arc shown on page 74.

28



JULY 1969

KCII

CYCLICAL INDICATORS Economic Process and Cyclical Timing

Section B

PRICES, COSTS, AND PROFITS—Con.

Roughly Coincident Indicators
(Nov.) (Oct.)

'

(Ms)

(Aug.)

(July) (flpr.)

Comprehensive Wholesale Prices

55. Wholesale prices, industrial commodities (index: 1957-59=100)

58. Wholesale prices, manufactured goods (index: 1957-59-100)

Lagging Indicators

68. Laborjjost Jew. doll)uperunit of realI corporate gross; product, Q

*62. lab?r cost per unit of output, manufacturing (index: 1957-59=100)

V *"""*""'" ™~~*"

§7

§8

59

60

61

Current data for these series are shown on page 74.

ltd) JULY 1969



29

Economic Process and Cyclical Timing

Section B
Chart B6

MONEY AND CREDIT

Leading Indicators
(My) (Apr.)
F T

(RSay) (Feb.)
IP T

Flows of Money and Credit
96. Change in money supply and time deposits (ann. rate, percent;

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

33. Change in mortgage debt [ann, rate, bit. dot.)

*113. Change in! consumer installment! debt (ann. rate^ biL doj.)

112. Change in business loans [ami. rate, fal. dol.
MCD moving avg-6-term) i

.—

—J!"

GUI-cent data for those series ar$ shown on page 75.

30



JULY 1969

KCII

Section B

(pw^n
['(PMfi
V^ U ^Lkuv^/rAlL

Chart B6

MONEY AND CREDIT—Con.

Economic Process and Cyclical Timing

Leading Indicators—Con.
(Edotf.) (let)

(

(Uiyj (FA)

Flows of Money and Credit - Con

110. Total private borrowing, Q (ann. rate, bit. dot.)

14. liabilities of business failures {mil. dot. - inverted scale;
MOD moving avg-6-term)

39. Delinquency rate, 30 days and over, total installment loans
(percent - inverted scale)

Current data for these series are shown on page 75.

l»l Jl JULY 1969




31

Section B

CYCLICAL INDICATORS

Chart

MONEY AND CREDIT-Con.

B6

Economic Process and Cyclical Timing

Roughly Coincident Indicators
(luiyj
P

(Nov.) (Oct.)
P
T

(July) (Apr.)
P
T

(Aug.)
T

(May) (Feb.)
P
T

93. Free reserves (Ml. do*, -inverted scale]

114. Treasury trill rate (percent)

116. Corporate bond yields (percent]

115. Treasury bond yields (percent]

117. Municipal bond yiekfs (percent)

n JUULJl;1. > ; : : : . ; . u. • • . . . . • . : . ,
49

SO

51

S2

JtJUUL
93

§4

i. :,:.,,....::./: .•••• ,;...;;j-.jl
SS

§6

57

99

00

62

63

64

65

6©

§8

CM!

Current data for those series are shown on page 76.

32



JULY 1969

BCII

Section B

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

Lagging Indicators
(Nov.) (Oet)
l>
f

(Aug.)
T

(July) (Apr.)
P
T

(Mas?) (Feb.)
P
T

Consumer installment debt |bil. do!.)

*72. Commercial and industrial loans outstanding,
weekly reporting large commercial banks (bil. doL)

*67. Bank rates on short-term business loans, Q (percent)

118. Mortgage yields, residential (percent)

31946 49

B@

51

52

S3

54

55

56

57

SS

59

60

©I

Si> 197©

Current data for these series are shown on page 76.

BCII JULY

1969




33

!i Selected Indicators by Timing

Section 6
Chart

B7

COMPOSITE INDEXES

(TO

^3 (IFsS.)

[index: 1963=100J

810. Twelve leading indicators, reverse trend adjusted 1
(seriesTf 6, ft; R 16,177f9, 23, 29, 31J13)

820. Five coincident indicatorsvestimated aggregate
econiwnic'activity (series^43, 47, 52^56]

830. Six lagging indicators {series 44, 61, 62, 67, 71, 72)

§_--/——

Current data for these series are ihown on page 77. Numbers entered on the chart Indicate length of leads (-) and lags (+) In months from reference turning dates.
1 Reverse trend adjusted Index of 12 leaders contains the samo trend as the index of 5 coincident indicators.

34



JULY

1960

ItCII

MS Selected Indicators by Timing

Section B

COMPOSITE INDEXES—Con.

Leading indicator Sectors
813. Marginal empioymefit adjustments (series 1, 4,5)

814. Capitalinvestmerrt commitments Jseries 6,10,12, 29)

815. Inventory investment

purchasing (series 23, 25, 31, 37]

816. Profitably (series 16,17,19j

817. Sensitive facial flows (series 33, 85,112,113)

, > JUOUl

1948 49

.

50

51

JL'UUu

52

53

54

55

56

57

58

59

60

61

Current data for these series are shown on page 77.

KCII

JULY 1969




35

Section B

CYCLICAL

Chart

NBER SHORT LIST

B8

Selected Indicators by Timing

Leading Indicators

p

IT

Average workweek, production workers, manufacturing (hours]

*4. Nonagricultural placements, all industries (thousands)

*12. Net business formation (index: 1957-59=100)

*6. New orders:; durable goods industries fbft. doJ.)

*10 Contracts and orders, plant and equipment (bil.

.*29. New building pennits, private hous^lmits (index: 1957-59-1001

AT"

§1

§2

S3

94

§5

§©

Current data for these series are shown on pages 68, 71, and 72.

36



JULY 1969

BCII

Section B

Selected Indicators by Timing

Chart B8 1 NBER SHORT LIST—Con.

=t==========M_m===J

Leading Indicators—Con.

*31. Change in book value, manufacturing and trade inventories
"' farm, rate,Hi. MfMCD

*23. Industrial materials prices (index: 1957-59=100)

*19. Stock prices, 500 common stocks (index: 1941-43=10)

*16. Corporate profits after taxes, Q (ann. rate, bit. dol.j

*17. Ratio, price to unit labor cost, manufacturing (index: 1957-59=100)

*113. Change in consumer installment debt (ann. rate, bit. dol.)

Curs-ent data for these series are shown on pages 73, 74, and 75.

JULY 1969




37

Selected Indicators by Timing

Section B
Chart B8

NBER SHORT LIST^Con.

Roughly Coincident Indicators

*200, GNP in current dollars, Q (ann. rate, ML del]

*205. GNP in 1958 dofefs,
Q (aim. rate, bil.

*47. Industrial production (index: 1957-59100)

*52, Personal Income [ann. rate, bi dol,}

*56. Mawfactuftog and tradt

*54. Sa*is of ratal stores (Wt

*41 Employe«s 90 nonagricurtural (wyroMs (miions)

*43, t)wmpk)ymwit rat»t to*al (percent-inverted scale]

82

S3

S4

61

02

63

64

6S

Current data for those series arc shown on pages 69 and 70.

38



JULY 1969

Section B

Selected Indicators by Timing

[Chart B8j NBER SHORT LIST—Con.
Lagging Indicators

*44, Unemployment rate, persons unemployed 15 weeks and over (percent - inverted scale)

*61. Business expenditures, new plant and equipment, Q (ann. rate, bit. doi.)

*71. Book value, manufacturing and trade inventories (bil. dot.)

*62. labor cost per unit of output, manufacturing (index: 1957-59-100)

*72. Commercial and industrial loans outstanding, weekly reporting
large commercial banks (bil. dol.}

*67. Bank rates on short-term business loans, Q (percent

Current data for these series are shown on pages 69, 72, 73, 74, am* 76.

ItCII JULY 1969



39

ANTICIPATIONS AND INTENTIONS

Chart C l ] AGGREGATE SERIES

(MM
P

(*«
T

9th
811 <

61 B*K$*ess expenditures for new plant
al industries, Q

a) Actual expenditures
am. rate, Mi. dot)

38 -I

£18 •
(b| Secood antic^ttlwis as
percent of aptual (percent)

_^

D
1

TT -

1U

ii

(c) First anttcipatiwts as
of

• M..TI.T

THSU ??

§2

63

67

68

SS

70

Current data for these series are shown on page 78.

40



JULY

1969

ItCII

Section C
Chart Cl

AGGREGATE SERIES—Con.

410. Manufacturers' sates, total value, Q (bil, dol.)

412. Manufacturers' inventories, total
book value, Q (bil. dol.)

414. Condition of manufacturers' inventories:
percent considered high less percent
considered low, Q (percent]

416. Adequacy of manufacturers' capacity: percent
considered inadequate less percent considered
excessive, Q (percent)

Current data for these series are shown on page 78.

ltd)

JULY 1969




41

Section C
Chart

Cl

AGGREGATE SERIES-Con.

(May)
Actual
Anticipated
^neemt «f houseMte ircmiwftd to incomes year ago> fl

El

(a) P«ft«rt of househotts reporting no change in fam% income (percent]

40 J

(b) Percent of households reporting higher family income (percent)

|c] Percent of households reporting tower family tame (percent)

425. Mean probability of substantial changes in income of households, Q

EH
_.

m

jcj Mean prnfuiNrty at .{teaj&as.eJn famity oraxnt

430. Mumper of new cars jwcteted by households. Q
(wo. rate, ml. cars)

„
(a) Actual (quarterly)

no9.

„_
(c) Anticipations

8

(d) Anticipations as percent of 3C1M flata (percent]"

105-1

se
4 ie
rwfr^toor"

--3

110'

190-

99'

88

99

60

61

§2

S3

64

§5

07

60

69

70

Current data for these series are shown on page 78.

42



JULY 1969

Section C
Chart C2

DIFFUSION INDEXES

Diffusion indexes: percent rising
[plotted at terminal quarter}
New orders, manufacturing |4-0 span}1

78 *

2SJ

D442. Net profits, manufacturing and trade (4-Q span)1

so-

D444. Net sates, manufacturing and trade (4-Q span)1

75-

D446. Number of employees, manufacture and trade (4-Q span]1

§o-

25 J

1957

S9.........JBo"".........61

§2

63

64

6S

66

1971

Current data for these series are shown on page 79.
1
this Is a copyrighted series used by permission; it may not be reproduced without wrtnen permission from Dun & Brrdstreet, Inc.

JULY 1969




43

Section C
Chart

(?

C2

DIFFUSION INDEXES—Con.

t?

if

if

Diffusion indexes: percent rising
(plotted at terminal quartet)

I Actual
•-*[Anticipated "••-

0450. Level of inventories, manufacturing and trade (4-0 span)'

D460. Sefting prices, manufacturing and trade (4-Q span)1

0462, SeHtog prices, manufacturing (4-Q span)1

D464. Seing prices, wholesale trade (4-0 span)1

D466. Selling prices, retail trade (4-Q span)

Current data for those series are shown on page 79.
'This Is a copyrighted series used by permission; It may not be reproduced without wrinen permission from Oun & Srodstreet, Inc.

44



JULY 1969

KCII

Section C
Chart C2 I

DIFFUSION INDEXES—Con.

Diffusion indexes: percent rising
(plotted at terminal quarter)
D61. Business expenditures for new plant and equipment, all industries (1-Q span)
(a) Actual expenditures

8480, Freight carloadings (4-0 span)

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

Current data for these series are shown on page 80.

IMLIf JULY 1969




45

KEY

Qchart Dl J FOREIGN TRADE
(Nov.) <0et.)
T

500. MareNflise trade balance (bil, del.; MCD moving avg,-4-tertn)

502. Exports, except miNtary aid |bil. do!,; MCO moving avf,-4-temt)

506. Export outers, (turabies except motor vehicles
dol,; MCD moving avg.-

506. Export orders, nonelectrical midNry
iiadex; 1957-59^100; MCO movne avg.-4-terni)

512, Geoeral imports (H M; MCD moving avg.-4-tenuj

SO

91

52

93

54

59

S6

57

59

60

61

62

6S

66

S7

S8

SS

1970

Current data for the»e series are »hown on page 81.

46



JULY 1969

BCII

Section D
Chart D2

BALANCE OF PAYMENTS AND MAJOR COMPONENTS

U.S. Balance of Payments, Q

Bllkm dollars

520. Liquidity balance basis
(Change ii U.S. official reserve assets and change
'n tfuid irtiktfes to atl foreigners]

522. Official<
(Change m U.S. official reserve assets, arid change
-__^jL*gJlJ!l«!g!^J^
j,
to foreign monetary official agencies]

Major Components, Except Military
Grants of Goods and Services

Annual rate, billion dollars!
Excess of receipts [inflow]
Excess of payments (outflow)

basis1 (Outftow H left scale)

on goods and services
(surplus (+) right scale)

527. Net capital movements,
trfficiar settlements
(outflow (-1 ten scale)

522. Official settlements bat

(surplus + right scale]

1948 49

90

51

52

53

54

55

56

57

58

59

63

64

Si

1970

Current data for these series are shown on page 82. Annual totals are used prior to 1960 except for series 520.
'includes unilateral transfers and errors and omissions.

JULY 1969




47

Section D

OTHER KEY INDICATORS

Chart 02 II BALANCE OF PAYMENTS AND MAJOR COMPONENTS—Con.

Major Components, txcept Military brants
of Goods and Services-Con.

Bllktn dollars

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

\

532. Liquid and certain nonKquid liabilities to
foreign official agencies, outstanding at end of period

534. U.S. official reserve assets-reserve position at end of period

D

Current data for these series are shown on page 82. End of year figures are used prior to 1960.

48



JULY 1969

ttCII

Section D
Chiart

D2

BALANCE OF PAYMENTS AND MAJOR COMPONENTS-Con.

Goods and Services Movements,
Except Transfers Under Military Grants
Annual rate, billion dollars

Excess of receipts
t£3 Excess of payments

Goods and services-

250. Balance on goods and services

Merchandise, adjusted536. Exports
537. Import?

Investment Income, military sales
and expenditures, and other services

5©

Si

ii

S3

§4

5S

i©

§?

§§

Current data for these series are shown on page 82. Annual totals are used prior to 1960.

JULY 1969




49

Section D
Chart D2

BALANCE OF PAYMENTS AND MAJOR COMPONENTS-Con.

Investment Income, Military Sates
and Expenditures, and Other Services

Annual rate, bikm dollars
^ Excess of receipts (inflow)
EZ3 Excess of payments [outflow)

Investment income—
542. Income on U.S. investments abroad

543. tocome on foreign investments in thft U.S.

Travel545. Payments by U.S. travelers abroad
, rS

r

—~•—-r^ — """--""*

544. Receipts from foreign travelers in the U.S.

Military sales and expendrtures-

547. U.S. military

D
546. Military sales to foreigners

Transportation and other services548. Receipts

ma 4§

m

$i

m

es

se

ee

is

u is

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

50



JULY 1969

BUI

Section D
Fchart D2l BALANCE OF PAYMENTS AND MAJOR COMPONENTS-Con.
P

i

---

"

Capital movements plus Government
nonmilitary unilateral transfers

Annual rate, billion dollars

Excess of receipts (inflow)
Excess of payments (outflow)
Direct investments-

561. U.S. investments abroad

560. Foreign investments in the U.S.

Securities investments-

564. Foreign purchases of U.S. securities

570. Government grants and capital transactions, net

575. Banking and other capital transactions, net

-4.

m 59
Curreiht data for these series are shown on page 83. Annual totals are used prior to 1960.

BCD JULY

1969




51

Section D
Chart D3

i FEDERAL GOVERNMENT ACTIVITIES

(May) (IF*)
1? T

Receipts and Expenditures I

600. Federal surplus or deficit, national income and product accounts, Q (ann. rate, Ml. dol.]

601. Federal receipts, national income and product accounts, Q (ann. rate, bU. dol.)

602. FwieraJ expenditures, national income and product accounts, Q (ann. rate, bil. dol.)

Current data for these series are shown on page 84*

52



JULY 1969

Section D
Chart D3

FEDERAL GOVERNMENT ACTIVITIES—Con.

(toil)
P

I

[Defense Indicators

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

621. Defense Department obligations, procurement
(bil. dot; MCD moving avg.-6-term)

647. New orders, defense products indust
(bil. dol.; MCD moving avg.-6-term)

§48. New orders,
defense products
(bil. dol.)

625. Military contact awards in U.S. _
"(bit. dot.,; MCD moving avg.-6-term)

Current data for these series are shown on page 84.

BCII JULY

1969




53

Section D

Chart D4

OTHER XKY I
1 PRICE MOVEMENTS

Consumer urir»«-

1

784. Sen/ic«s

54



JULY

1969

BCII

Section D
Chart

D4 I PRICE MOVEMENTS—Con.

P

T

1 Wholesale pricesH

-

x -,

*

750. All commodities

Current data for these series are shown on page 85.

BCII JULY

1969




55

Chart El

P

ACTUAL AND POTENTIAL GROSS NATIONAL PRODUCT

T

Gross National Product in 1958 dollars
land, rate, ML do!.]

206. Potential GNP1

205. Actual GNP

S3

84

Si Si

Current data for the^e serlet are shown on page 86.
1
Trend line of 3-)/2 percent pec year through middle of 1955 from 1*t quarter 1952 to 4th quarter 1962, 3-3/4 percent from 4th quarter 1962 to 4th quarter 1965, and 4 percent thereafter.

56




JULY 1969

ItCII

Section E

D

Chart E2

ANALYTICAL RATIOS

(flag.)
I

(fc) (W.)

850. Ratio, output to capacity, manufacturing, Q (percent)

851. Ratio, inventories to sales, manufacturing and trade

SJ<

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

853. Ratio, production of business equipment to consumer goods
(index: 1957-59=1^0]

^t

m

§31

§E

53

P4

Current data for these series are shown on page 67.

KCII JULY

1969




57

Section E
Chart

E2

ANALYTICAL RATIOS—Con.

(floog.)
T

(My) (flpr.)

IP

I

m\

I?

854. Ratio, personal saving to disposable personal income, Q

853. Ratio, nonagricuttural job openings unfilled to number of persons unemployed

858. Output per man-hour, total private nonfarm, Q (index: 1957-59-100)

856. Real average hourly earnings, production workers
manufacturing (1997-39 dollars)

859. Real spendable average weekly earnings, nonagricuttural
production or nonsupervisory workers (1957-59 dollars).

857. Vacancy rate in total rental bousing, Q (percent)

Current data for these series ara shown on page 87.

58




JULY 1969

IICII

Section E
|j*art_E3j DIFFUSION INDEXES
Leading Indicators
i

if-

Percent rising
Dl. Averagie workweek, production workers, manufacturing - 21 industries (9-mo. span— , 1-mo. span—-)

D6. New orders, durable goods industries - 36 industries (9-mo, span—, 1-mo. span—)

Oil. Newly approved capital appropriations - 17 industries, NICE [3-0 span***, 1-0 span*~)

034. Profits, FNCB of NY, percent reportmg higher profits - about 1,000 manufacturing corporations (1-Q span]

D19, Stock prices, 500 common stocks - 77 industries (9-mo. span—, 1-mo. span-—)

023. Industrial materials prices - 13 industrial materials (9-mo. span —, 1-mo. span—-)

05. Initial claims, State unemployment insurance - 47 areas (percent declining; 9-mo. span—, 1-mo. span

Current data for these series are shown on pages 88 and 89.

BUI

JULY

1969




59

Section E
Chart E3

DIFFUSION INDEXES—Con.

Roughly Coincident Indicators

I?

If

[p

V

[Percent rising]

041. Employees on nonagricultural payrolls - 30 industries (6-mo. span—, 1-mo. span—]

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

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

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

Current data for these series are shown on page 90.

60




JULY

1969

ItCII

DM
Fr.
"If

Section

l_fc.

F

CONSUMER PRICES

Index: 1957-59 = 100
Con sum ef prices—
781. United States

a

Q

lii

B®
OIO)

Current data for these series are shown on page 07.

BCII JULY

1969




61

Section F
Chart

F2

INDUSTRIAL PRODUCTION

Index: 1957-59 = 100
Industrial production47. United States

51

gg

S3

S4

§2

S3

i4

6?

Current data for those, series are shown on page 98.

62




JULY 1969

BCII

Section F
Chart

F3

STOCK PRICES

Stock prices19. United States

I3L

i:

Current data for these series are shown on page 99,

KCII JULY

1969




63

NATIONAL INCOME AND PRODUCT

GROSS NATIONAL PRODUCT
Year
and
quarter

1966
First quarter...
Second quarter..
Third quarter...
Fourth quarter..
1967
First quarter...
Second quarter..
Third quarter...
Fourth quarter..

200. Current dollars
a. Total

205, Constant (1958) dollars

(Ann. rate,
bil. dol.)

(Ann. rate,
bil. dol.)

c. Percent
change
at annual
rate

Revised1

Revised1

Revised1

Revised1

b. Difference

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

210. Implicit price deflator

b. Difference c. Percent
change
(Ann. rate, at annual
rate
bil. dol.)
1
Revised1
Revised

a. Total

b. Difference

(Index:

(Index:

1958=100)

1958-100)

Revised1

Revised1

c. Percent
change
at annual
rate
Revised1

729.5
743.3
755.9
770.7

+19.5
+13.8
+12.6
+14.8

+10.8
+7.6
+6.8
+8.0

649.1
655.0
660.2
668.1

+12.5
+5-9
+5.2
+7.9

+8.0
+3.6
+3.2
+4.8

112.4
113.5
114.5
U5.4

+0.9
+1.1
+1.0
+0.9

+3.2
+4.0
+3.6
+3.2

774.2
783.5
800.4

+2.0
+4.8
+8.8
+8.0

666.5
670.5
678.0
683.5

-1.6
+4.0
+7.5
+5.5

-0.8
+2.4
+4.4
+3.2

116.2
116.9
118.1
119.4

+0.8
+0.7

816.1

+3.5
+9.3
+16.9
+15.7

+1.2
+1.3

+2.8
+2.4
+4.0
+4.4

835.3
858.7
876.4
892.5

+19.2
+23.4
+17.7
+16.1

+9.6
+11.2
+8.4

+7.2

693.3
705.8
712.8
718.5

+9.8
+12.5
+7.0
+5.7

+5.6
+7.2
+4.0
+3.2

120.5
121.7
122.9
124.2

+1.1
t-1,2
+1.2
+1*3

+3.6
+4.0
+4.0
+4.4

908.7
P925.1

+16.2
pfl6.4

+7.2
F+7.2

723.1
P727.3

+4.6
P+4..2

+2.4
JH-2.4

125.7

+1.5
Pf-l.5

+4.8

p!27.2

1968
First quarter...
Second quarter..
Third quarter...
Fourth quarter..
1969
First quarter...
Second quarter .
Third quarter...
Fourth quarter..

GROSS NATIONAL
PRODUCT»Con.
Year
and
quarter

1966
First quarter...
Second quarter.
Third quarter,.
Fourth quarter..

NATIONAL AND PERSONAL INCOME

215. Per capita 217. Per capita
GNP, constant
GNP, current
dollars
(1958) dollars
(Ann. rate,
dollars)
Revised1

(Ann. rate,
dollars)
Revised37

220, National
income in current dollars
(Ann. rate,
bil. dol.)
Revised1

222. Personal
income in current dollars
(Ann. rate,
bil. dol.)
Revised1

Disposable personal income
224. Current
dollars
(Ann. rate,
bil. dol.)
Revised1

225. Constant
(1958) dollars
(Ann,, rate,
bil. dol.)
Revised1

226. Per capita,
current dollars
(Ann, rate,
dollars)
Revised1

227, Per capita,
constant (1958)
dollars
(Am. rate, dol.)
Revised1

3,720
3,780
3,833
3,895

3,310
3,331
3,347
3,377

603.2
615.0
626.9
637.3

570.3
580.7
592.8
605.0

499.9
506.0
515.9
525.6

453.5
454.7
461.2
466.1

2,549
2,574
2,616
2,656

2,313
2,313
3,339
2,356

3,903
3,940
4,014
4,080

3,360
3,372
3,400
3,418

639.3
646.2
658.5
672.0

615.2
622.2
634.5
645.9

534.4
541.6
550.3
559-8

471.6
476.0
479.4
483.7

2,694
2,724
2,?60
2,799

2,378
2,394
2,404
2,419

4,168
4,274
4,350
4,418

3,459
3,513
3,538
3,557

688.8
707.4
724.1
737.3

664.3
680.1
696.1
711.2

575.0
587.4
593.4
604.3

492.1
497.4
498.9
502.1

2,869
2,924
2,946
2,991

2,455
2,476
2,477
2,485

4,488
P4,558

3,571
P3,583

751.3
(NA)

724.4
P740.7

P623.0

610.7

503.0
P507.0

3,016
P3,070

2,484

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

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

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

NOTE: Series are seasonally adjusted except those series that appear to contain no seasonal movement. Unadjusted series are indicated
. Series numbers are for'
identification
only and do not reflect series relationships or order. Complete titles and sources are shown at the back of the book. The V indicates
indi
revised; "p",preliminary;
n
"e , estimated; V, anticipated; and "NA", not available.
1
See "New Features and Changes for This Issue," page iii.

64




INIY 1969

KCII

NATIONAL INCOME AND PRODUCT

PERSONAL CONSUMPTION EXPENDITURES
Year
and
quarter

230. Total in
current dollars

231.' Total in
constant (1958)
dollars

(Ann. rate,
bit. dol.)

(Ann. rate,
bil. dol.)

Revised1

1966
First quarter...
Second quarter..
Third quarter...
Fourth Quarter..

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

Revised1

236. Nondurable
goods in current
dollars

237. Services in
current dollars

(Ann. rate,
bil. dol.)

(Ann. rate,
bil. dol.)

(Ann. rate,
bil. dol.)

(Ann. rate,
tail, dot.)

(Ann. rate,
bil. dol.)

Revised1

Revised1

Revised1

Revised1

Revised1

420.7

71.2
68.5
71.3
71.9

44.4
44.5
46.2
46.5

26,8
24.0
25.1
25.4

209.1

183.9
186.9
190.2
193.5

480.9
489.8
495.7
502.6

424.4
430.5
43L9
434.3

70.0
73.5
73.3
75.2

46.9
47.6
47.9
-50.0

23.1
25.9
25.4
25.2

213.2
2U.4
215.8
216.8

197.7
201.8
206.6
210.6

520.6
530.3
544.9
550.7

445.6
449.0
458.2
457.6

79.5
81.8
85.8
86.3

51.1
52.6
54.1
54.9

28.4
29.2
31.7
31.4

226.1
228.5
233.3
234.3

215.1
220.0
225.8
230.1

562.0
P570.7

462.9

88.4

57.5
(NA)

30.9
(NA)

238.6
P240.6

235.0
P239.8

457. $
461.9
471.2
474.5

415.3
415.1
421.3

202.6
206.4
209.6

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

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

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

(WA)

P90.4

GROSS PRIVATE DOMESTIC INVESTMENT IN CURRENT DOLLARS
Year
and
quarter

240. Total

241. Nonresidential
fixed investment

242. Nonresidential
structures

(Ann. rate,
biU dol.)

(Ann. rate,
bil. dol.)

(Ann. rate,
bil. dol.)

Revised1

Revised1

Revised1

1966
First quarter...
Second quarter.
Third quarter ..
Fourth quarter..

243, Producers*
durable equipment
(Ann. rate,
bil. dol.)

244. Residential
structures

245. Change in
business inventories

(Ann. rate,
bil. dol.)

(Ann. rate,
bil. dol.)
Revised1

Revised1

Revised*

117.5
122.4
119.6
126.2

78.8
80.3
83.0
84.2

28.6
28.2
29-0
28.2

50.2
52.1
54.0
56.0

27.4
26.0
24.7
22.1

+11.3
+16.2
+H.9
+19.9

113.6
109.4
117-7
153-3

83.3
83.0
83-5
85.0

29.0
27.2
27.8
27.8

54.2
55.8
55.7
57.2

21.4
23.1
26.5
28.8

+9.0
+3.4
+7.8
+9.5

119.4
126.6
125.2
133.9

89.1
86.4
88.1
91.5

29.8
28.3
29.0
30.1

59.4
58.1
59.1
61.4

28.6
30.3
29.9
31.9

+9.9

135.2
P139.9

95.3
P98.0

32.3
P31.6

63.0
P66.3

33.3
P32.4

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

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

+1.6
+7.2
+10.5

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

+6.6

NOTE: Series are seasonally adjusted except those series that appear to contain no seasonal movement. Unadjusted series are indicated by ®. Series numbers are for
identification only and do not reflect series relationships or order. Complete titles and sources are shown at the back of the book. The V indicates revised; "p", preliminary;
V, estimated; "a", anticipated; and "NA", not available.
1
See "New Features and Changes for This Issue," page iii.

BUI JULY

1969




65

NATIONAL INCOME AND PRODUCT

H

QJ FOREIGN TRADE IN CURRENT DOLLARS
Year
and
quarter

250. Net exports
of goods and
services

252. Exports
of goods and
services

253. Imports
of goods and
services

260. Total

262. Federal

264. National
defense

265, State and

(Ann. rate,
bil. dol.)

(Ann. rate,
bil. dol.)

(Ann. rate,
bil. dol.)

(Ann. rate,
bil. dot.)

(Ann. rate,
bil. dol.)

(Ann. fate,

(Ann rate,

bil. dol.)

bil. dol.)

1

1

1

1

1966
First quarter
Second quarter.
Third quarter.
Fourth quarter
1967
First quarter
Second quarter. ....
Third quarter
Fourth quarter
1968
First quarter
Second quarter. ....
Third quarter
Fourth quarter
1969
First quarter
Second quarter —
Third quarter.
Fourth quarter

GOVERNMENT PURCHASES OF GOODS AND SERVICES
IN CURRENT DOLLARS

Revised

1

Revised

Revised

Revised

Revised

Revised

42.2
42.7
43.7
44.8

36.0
37.1
39.3
39.9

148.0
153.4
160.7
165.2

72.8
75.6
80.5
82.1

55.3
5B.5
63.3
65.6

75.2
77.7
80.1
83.0

+5.4
+5.8
+5.6
+3.8

45.8
45^9
46.3
46.7

40.4
40.1
40.7
42.8

174.2
178.5
181.3
186.4

8-7.8
90.3
91.3
93.5

69.9
71.9
73.0
74.6

86.4
88,1
90,0
92.9

+1.9
+3.4
+3.6
+1.2

47.7
50.7
53.4
50.6

45.9
47.3
49.7
49-4

193.4
198.4
202.5
206.7

96.3
99.0
100.9
101.9

76.1
77.9
78.8
79.3

97.1
99.4
101.7
104.8

+1.5
pf2.0

47.6
P58.6

46.1
P56.6

210.0
p212.5

101.6

79.0

plOO.6

P78.7

108,5
pill. 9

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

1966
First quarter
Second quarter —
Third quarter
Fourth quarter
1967
First quarter
Second quarter
Third quarter
Fourth quarter
1968
First quarter
Second quarter ....
Third quarter
Fourth quarter ....
1969
First quarter. . . * .
Second quarter ....
Third quarter
Fourth quarter

Revised1

1

+6.2
+5.6
+4.4
+4.9

Q FINAL SALES AND INVENTORIES IN C U R R E N T DOLLARS
Year
and
quarter

local

Revised1

Nondurable goods

271. Change in
business inventories
(Ann. rate,
bil. dol.)
Revised1

274. Final sales 275. Change in
business inventories
(Ann. rate,
(Ann. rate,
bil. dol.)
bil. dol.)
Revised1

Revised1

H

NATIONAL INCOME COMPONENTS
IN CURRENT DOLLARS

280. Compensation
of employees

282. Proprietors1
income

284, Rental income
of persons

(Ann. rate,
bil. dol.)

(Ann. rate,
bil. dol.)

(Ann. rate,
bil. dol.)

Revised1

Revised1

Revised1

142.2
142.6
148.1
151.8

+8.2
+10.6
+10.2
+13.2

217.6
270,9
r-25.3
225.4

+3.1
+5.6
+1.7
+6.7

420.1
430.9
441.4
449.7

62.1
61.2
61.1
60,8

19.6
19.8
20.1
20.3

151.9
158. 3
157.7
160.0

+4.2
+1.5
+4.4
+5.6

230.7
234.2
235.5
235.9

+4.7
+1.8
+3.4
+3.9

456 ,,2
461,1
470 ,,7
481,,7

60.8
61.7
62.6
62.3

20.6
20.8
20.9
21.0

166.4
168.9
173.7
176.6

+1.9
+6.8
+5.1
+7.4

246.5
250.4
256.1
256,4

-0,3
+3.1

495,1
507 ,,o
519,8

532.3

63.2
63.6
64.X
64.1

21.1
21.2
21.2
21.4

181.6
(NA)

+4.8
(NA)

259.7

+1.8
(NA)

546.0
P558.0

64.6
p66,7

21.5
p21,6

CNA)

+2.1
+3.1

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

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

66




JULY 1969

NATIONAL INCOME AND PRODUCT

H

NATIONAL INCOME COMPONENTS
IN CURRENT DOLLARS-Con.

Year
and
quarter

1966
First Quarter
Second tjuarter. ....
Third Quarter. .....
Fourth quarter. ....
1967
First quarter
Second quarter. ....
Third quarter
Fourth quarter
1968
First quarter
Second quarter. ....
Fourth quarter
1969
First cuarter
Second) quarter ....
Third quarter.
Fourth quarter

Q SAVING IN CURRENT DOLLARS

286. Corporate
profits and
inventory valuation adjustment

288. Net interest

290. Gross saving

292. Personal
saving

(Ann. rate,
bil. dol)

(Ann. rate,
bit. dol)

(Ann. rate,
bil. dol.)

(Ann. rate,
bil. dol.)

Revised1

Revised1

Revised1

Revised1

294. Undistributed 296. Capital consumption
corporate profits
plus inventory valu* allowances
at on adjustment
(Ann, rate,
bil. dol.)
Revised1

(Ann. rate,
bil. dol.)
Revised1

298. Government
surplus or deficit

(Ann. rate,
bil. dol.)

Revised1

81.5
82.1
82.5
83.7

19-9
21.0
21.8
22.8

121.0
126.3
123.5
128.8

29.6
31.2
31.6
37.7

26.2
26.8
26.9
29.6

62.5
63.5
64.4
65.3

+2.7
+4.7
+0.6
-3.8

78.3
78.3
79.1
81.1

23-5
24.3
25.1
25.9

117.5
113.6
119.9
155.6

40.0
37.7
40.7
43.1

24.8
24.1
24.6
25.5

66.8
67.9
69.2
70.4

-1A.1
-16.0
-1A.6
-13.4

82.5
88.2
90.6
90.3

26.7
27.5
28.4
29.3

120.5
128.8
129.1
135.4

39.9
42.3
33.2
38.0

20.4
24.1
25.6
23.6

71.7
73.0
73.7
74.6

-H.5
-10.8
-3.5
-0.9

89.5
(NA)

29.8
P30,3

138.5
(NA)

33.0
P36.4

21.8
(NA)

75.9
P77-2

+7.8
(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 V indicates revised; * p", preliminary;
V, estimated; "a", anticipated; and "NA"t not available.
"New Features and Changes for This Issue," page iii.

ItCll

JULY 1969




67

CYCLICAL INDICATORS-Economic Process and Cyclical Timing

MAJOR ECONOMIC
PROCESS

Qj
^^^m. EMPLOYMENT AND UNEMPLOYMENT
LEADINaiNDICATORS

ROUGHLY COINCIDENT INDICATORS

Marginal Employment Adjustments

Job Vacancies

TIMING CLASS ....
Minor Economic
Process

*1. Average work- *4. Nonagricultural
week of production placements,1 all
workers, manufao industries
turing x

Year
and
month

(Hours)
1967
January
February
March

April
May
June

(Thous,)

Revised3

,

July
August
September

2. Accession rate,
manufacturing1

5. Average weekly
initial claims for
unemployment
insurance, State
programs 2

(Per 100 employees)

(Thous.)

(Per 100 employees)

49. Nonagricultural
job openings unfilled1

46. Index of help*
wanted advertising
in newspapers

(Thous.)

(1957-59=100)

Revised3

Revised?

41.0
40.3
r40.5

512

4.6

500
492

4.3
4.1

196
231
256

rl.3
1-5
1.7

395
379
366

189
190
184

40.5
r40.4
40.4

485
481
483

4.2
4.6
4.5

259
236
231

pi. 5
1.4
1.4

353
351
352

181
174
171

^*JQ
OC/.

169

^Al
jOi

TOC
lOp

358

186

40 5

478

L L

r»/,n 7

A AT
AftQ
ifO^

i.

;,

2^1
o-to

y,j, n d

Y»A

^

917

40.7

476

LO 7
LO 7

A.71

4.5
c

4

220
?DQ

A.75

L. L

r40 8

478
471
481

40.1
40.9
40,9

July
August
September
October
November
December
1969
January
February
March

r40.9

April
May
June

40.8
r40.7
P40.7

October
November
December

3, Layoff rate;
manufacturing

1L
0
1O

1 ^
J-O
rl,3

jyfy

i An

qe/.

1ft7

204

1 2
12

?Aft

1QO

4.5
4.5
L 1

206
196

rl 3
rl 3

3 f 59

363

IQi.

rl ^

184
193
202

487
475
486

4 7
4.6

1 1

3fio

1.3
1.1

188
187

4.5

193
195
194

386

'189

40.9
40.7
r41.0

520
477
478

r4.7
r4.6
4 7

189
199
194

1.2
rl.2
12

375
367
376

185
198
219

r40.9

466
454
443

4.8
r4.6
4.7

188
190
190

rl.2
1.1
rl.l

372
373

213
222
226

448
459
431

4.9
4.6
4.6

179
186
184

1.1
rl.l
rl.2

^72
375
365

452
427

r4.9
P4.8

H> i?6

fc>1.0
pl.l
(NA)

1*387

227
217

P383

t)209

1968

January
February
March
April
May
June

40.2
r40.7

40.8

r40.g

40.6
r40.1

p460

(NA)

180
201

377

221
230

CP^ 2^2

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 [t>; for series that move counter to movements in general business activity (series 3,, 5,, 14f 39,, 40,, 43,, 44( 45,, and 93), current low values an; indicated by
Series numbers are for identification only and do not reflect series relationships or order. Complete titles and sources are shown at the back of the book. Series
preceded by an asterisk (*) are included in the 1966 NBER "short list" of indicators (chart B8). The V indicates revised; V, preliminary; V, estimated; "a", anticipated;
and 1"NA", not available.
Seriea that reached their high values prior to 1967 are as follows: Series 1, high value (41.6) reached in Fob. 1966|! Series
4, high value (586), in May 1962; Series 2, high value (5.2), in Mar. 1966; Series 49, high value (437), in Juty 1966. "Data
exclude Puerto Rico which is included in figures published lay source agency. 3See "New Features and Changes for This Issue,"
page- iii.
68




JULY 1969 ltd)

CYCLICAL INDICATORS-Economic Process and Cyjclical Timing

MAJOR ECONOMIC
PROCESS

B| EMPLOYMENT AND UNEMPLOYMENT-Con.

TIMING CLASS ....
Minor Economic
Process,,

Comprehensive Employment

48. Man-hours
in nonagricultural
establishments

Year
and
month

LAGGING
INDICATORS

ROUGHLY COINCIDENT INDICATORS-Con.

(Ann. rate, bil.
man-hours)
Revised

1967
January
February
March

3

Revised

~\ Q "1

Od
131. 38
-1

rt/A

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

/L J

130 • 04
i QA nt
130.73

Long-Duration
Unemployment

Comprehensive Unemployment

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

*43. Unemployment rate, total

(Percent)

45. Average
weekly insured
unemployment
rate, State1
programs
(Percent)

40. Unemploy*
ment rate,
married males

(Percent)

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

2

Ac
*3/ o
05,342

70, 137
70,188
69,935

3-7
3.7
3.7

2.3
2.4
2.6

1.8
1.7
1.8

0.6
0.6
0.6

Ac
y Ao
op>4oy

3.8
3.9
3.9

2.6
2.7
2.6

1.9
1.9
1.9

0.6
0.6
0.6

f\t\
ir^o
o>>j?r7
A^ / tco
°3»4;>y

T QA *JI
13O.74

Ac
cAQ
op,?o3

1 Q1

Ac
op ,rt)^4*7 (

70,144
69,804
70,407

AC
op, 7QQ
^yy
66 016
66 003

70,649
70,721
70,929

3-9
3.8
4.0

2.8
2.6
2.4

1.8
1.9
1.8

0.6
0.6
0.6

66,083
66,600
66 , 734

71,023
71,135
71,293

4.2
3-8
3.7

2.3
2.2

1.8
1.8
1.7

0.6
0.6
0.6

71,124
71, 566
71,786

3.6
3.7
3.7

2.3
2.3
2.2

1.7
1.7
1.7

0.6
0.6

W\ *>?

66, 720
67,165
67,286

133.54
134.21
134.75

67,466
67,550
67,816

71,737
72,027
72,156

3-5
3.6
3-7

2.1
2.2
2.2

1.6
1.6
1.7

0.5
0.5
0.5

July...
August
September

135.24
135.57
135.75

67,945
68,088
68,195

72,195
72,222

72,349

3.7
3-5
3.6

2.3
2.3
2.1

1.6
1.6
1.6

0,6
0.5
0.5

October
November
December
1969
January
Februafy
March

135-89
135.83
136 . 19

68,427
68,664
68,875

72,477
72,6$2
72,923

3-6
3.4
3.3

2.0
2.0
2.0

1.6
1.6
1.4

0.5
0.4
0.4

136.51
136.65
138.00

69,199
69,487
69,710

73,477
73,848
g>74,035

3-3
B> 3.3

2.1
2.1
2.0

1.4
1.4
S> -^

0.4
0.4
0>0.4

138.42
139.12
g£> p!39.69

69,789
70,024
g> P70,216

73,941
73,460
73,966

3.5
3-5
3.4

2.0

1-5
1.5
1-5

0.5
0.5
0.5

April
May
June

T Q/"t *2i
130.36

1 Pi

July
August. *
September

1.>
*?1
Tl
J
1. ({

October
November
Decembor

1 T3 o?

1968
January
February
March

m 60

April
May
June

m iA
T O - l Q£>
j-jjx.ycs

lo-i

<jc

T3? 7Q

1T3 ?Q

..

..

&•

April
May . >
June

^^

2.3

0 )

3.4

ft>2.0
p2.1

1

0.6

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 ® - Current high values are
indicated'byte>' for series that move counter to movements in general business activity (series 3,5, 14F B9,40, 43, 44, 45f and93) r current low values are indicated-by
ffb> Series numbers are for identification only and do not reflect series relationships or order. Complete titles and sources are shown at the back of the book. Series
preceded by an asterisk (*) are included in the 1966 NBER "short list" of indicators (chart B8). The V indidates revised; "p", preliminary; V, estimated; "a" f anticipated;
and "NA", not available.
exclude Puerto Rico which is included in figures published by source agency.
"New Features and Changes for This Issue,11 page iii.

BCD JULY 1969




69

CYCLICAL INDICATORS-Economic Process and Cyclical Timing

MAJOR ECONOMIC
PROCESS

QH PRODUCTION, INCOME, CONSUMPTION, AND TRADE

TIMING CLASS ....

ROUGHLY COINCIDENT INDICATORS

Minor Economic
Process

Year
and
month

1967

Comprehensive Production

*200, Gross na- *205. Gross national product
tional product
in current dolin 1958 dollars
lars
(Ann. rate,
bil. dol.)

(Ann. rate,

Revised1

Revised1

oil. dol.)

Comprehensive Income

*47. Index of
industrial production

*52. Personal
income

53. Wages and
salaries in mining, manufactur-

ing, and con-

(Ann. rate,
(1957-5^100)

bil. dol.)

Revised1

Comprehensive Consumption and Trade

*56. Manufacturing and trade
sales

245)

struction
(Ann. rate,

bil. dol.)

57. Final sales ="54. Sales of
(series 200
retail stores
minus series

(Mil. dol.)

Revised1

(Ann. rate,

bil dol.)

(Mil. dol.)

Revised1

January
February
March

774*2

666^5

158.3
156.7
156.6

612.8
614.9
617.9

162.7
161.4
161.2

88,078
87,323
87,632

765^2

25,828
25,478
25,758

April
May
June

7$3.5

67<X 5
• **

156.7
155.6
155.7

619.3
621.2
626.1

161.2
160.9
161.7

87,656
88,016
89,184

78a2

25,940
25,966
26,488

July
August
September

800 '.4

678!6

156.4
158.3
156.8

630.4
635.2
637.8

163.2
165.0
165.1

88,508
89,967
90, 113

792^6

26,325
26,298
26,899

October
November
December

816.1

683^5

157.2
159.8
162.1

639.0
645.6
653.0

165.0
168.4
170.2

89,072
90,770
92,147

806." 6

26,129
26,396
26,545

8353

6933

161.2
162.0
163.0

656.3
664.6
671.9

170.4
173.6
174.3

93,184
93,758
94,463

833^6

27,043
27,449
27,996

m.i

705 !s

162.5
164.2
165.8

674.2
680.2
685.9

174.3
177.1
177.9

94,552
96,069
97,423

848^8

27,791
28,158
28,320

July
August
September...,

876.*4

712.*8

166.0
164.6
165.1

691.0
696,1
701.1

179.0
179.7
181.8

98,368
97,083
99,135

869^2

28,674
28,760
28,902

October
November
December

892! 5

718^5

166.0
167-5
168.7

706.2
7H.5
716.0

183,3
184.6
186.7

99,675
100,142
98,671

382*.6

28,697
28,806
20,347

908^7

723^1

169.1
170.1
rl7l.4

718.7
723.9
730.7

187.1
187.6
190.7

100,137
101,390
101,510

902.1

28,989
29,289
28,916

B>p925!l

|£>P727!3

rl?1.7
172.7
B>P173.9

735.6
740.3
g> P746.2

rl.02,352
,p!03,108
(NA)

B>P91516

[£>r29,442
r29,l64
p28,935

1968
January
February
March
April

May

June

1969
January
February
March
April
May
June

192.1
193.1
B>pl94.9

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 fi>-; for series that move counter to movements in general business activity (series 3,5,14, 39, 40,43, 44, 45, and 93), current low values are indicated by
0£>. Series numbers are for identification only and do not reflect series relationships or order. Complete titles and sources are shown at the back of tho book. Series
preceded by an asterisk (*) are included in the 1966 NBER "short list" of indicators (chart B8). TheV indicates revised; "p", preliminary; V f estimated; V, anticipated;
and "NA", not available.
1
See "Kew Features and Changes for This Issue," page ill.

70




JULY 1959

CYCLICAL INDICATORS-Economic Process and Cyclical Timing

H

MAJOR ECONOMIC
PROCESS .......
TIMING CLASS ....

FIXED CAPITAL INVESTMENT
LEADING INDICATORS

Minor Economic
Process

Formation of Business

New Investment Commitments

Pntprnrjcpc

*12. Index of net 13. Number of new *6. Value of
business formation business incorpora- manufacturers'
new orders,
tions
durable goods
industries

Year
and
month

(1957-59-100)

(Number)

(Bil.dol.)

8. Index of
construction
contracts, total
value.1
(1957-59-100)

*1W. Contracts
and orders for
plant and equipment
(Bil.dol.)

11. Newly approved capital
appropriations,
1,000 manufacturing corporations (Bil.dol.)

24. Value of
manufacturers'
new orders, machinery and
equipment industries
(Bil.dol.)

1967
January
February
March

102.2
103 2
103 3

April
May
June

103 7
105 0
108 1

16 760

17 627
17 799

25 77

164

July....
August
September

108.4
110.7
110.3

16 300
17 674
18,118

24 92

25 88
25 18

"UP
16 c

6 24
6 57

168

6 L.3

October ,»..
November .
December ..

112.7

no. 6

113.8

18,000
18,403
18,168

25.68
25 85
28 06

171
168
166

6 66
6 42
6 43

5 • 7A
f *f

1968
January t
February
March

113.5
114.7
113.8

17,223
18,014
17,974

26.84
26.81
28.00

159
156
176

6 50
6.51
6.67

5 53

April
May
June

112.8

27.37
27.17
26.70

146
172
160

6.20
6.62
7.20

5.59

104-5

18,659
18,796
19,197

5 45
5.97

July
August
September.

119.0
119.1
•121.2

19,530
20,011.
20,986

26.92
27.33
-28.38

187
192
183

6.96
7.85
7.20

6.24

6.03
5.92

October
November
December
1969
January
February
March. ,

123.9
123.4
325.3

21,394
21,155
20-,292

30.28
29.32
29.38

200
183
179

8.18
7.29
7.79

JD> 6.76

125 2

20,578
22,199
21,353

29.68
30.48
29.70

191
205
177

7-98
7.84
7.50

P6.60

B> 23,467
23,230
(NA)

R> 30.94
*^ r30.00
P29.09

183
210
180

g> 8.26

112.7

%..

§> 125.8
123.2

April .»
May
June

123.9
123.1
(NA>

16,703
15 987

23,94

126

5 92

2L. 1*5

1^3

6 13

lA 9/,/,

00

"1AQ
J-4?

A lA

2L. O/L

TQft

I*;/.

6

2.S 30

Cl.

fc>

(<.
5 .no

f)O

6 03
6 40

rd.Ol
P7.82

O7
5 •W
5(Y\
,\J£

4f\f\
.70
5r\&
.Oo

ft
5 .rro

5 ,uy
no.

5 Oo
0A

5qA
Oo

5

fto

.04.

1 rt
47
5 • or
5 O>

c on
POX
5017

Of

CA
5 ou

1 A7

«; 3A
5 38
^ LQ

5.71

(NA)

6.55
6,09
6.24
6.20
6.51
6.41

B> 7.10
r6.43
P6.52

July
August
September .
October
November
December
NOTE1 Series are seasonally adjusted except those series that appear to contain no seasonal movement. Unadjusted series are indicated by ® . Current high values are
indicated'byB>- for series that move counter to movements in general business activity (series 3, 5,14, 39, 40, 43, 44, 45, and 93), currentlowvalues are indicated by
fc>
Series numbers are for identification only and do not reflect series relationships or order. Complete titles and sources are shown at the back of the book. Series
preceded by an asterisk (*) are included in the 1966 NBER "short list" of indicators (chart B8). The V indicates revised; "p", preliminary; "e", estimated; V, anticipated;
and "NA". not available.
if
rhis 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.

JULY 1969



71

CYCLICAL INDICATORS-Economic Process and Cyclical Timing

MAJOR ECONOMIC
PROCESS
TIMING CLASS

....

Minor Economic
Process

Year
and
month

Q
LEADING INDICATORS-Con.
New Investment Commitments-Con.

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

1967
January
February
March

FIXED CAPITAL INVESTMENT-Con.

7. New private
nonfarm housing
units started

(Ann. rate, thous.)

ROUGHLY COINCIDENT INDICATORS

LAGGING INDICATORS

Backlog of Investment Commitments

Investment Expenditures

*29. Index of new
private housing
units author! zed by
local building
permits

96. Manufacturers'
unfilled orders,
durable goods
industries

97. Backlog of
capital appropriations, manufacturing

(1957-59-100)

(Bil. dot.)

(Bil. dol.)

*61. Business
expenditures on
new pi ant and
equipment, total

69. Machinery and
equipment sales
and business con*
strtction expenditures

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

(3)
49.09
57 AA
^6 1A

1,079
i i??
i 06?

83.1

77.36

7A
ro. Q
7
A1 Q

77
CO
ft *V<.
oA ni

1 099
1 25L
1 214

QO 7
Ql T
07 Q

7* Aft
7A %9
77 ^1

96 L
Q9 L

April
May
June

62 30

July
August
September

61 66
60 45

1 "356
1 381
1 415

102 3

77 A?
77 QL
77 QL.

October
November
December

5^.42
63.17
64.08

1 478
1,567
1,235

106 9
102.2
H6 7

79 13
80 58

January
February
March

64.51
61.39
66.61

1,430
1,499
1,479

L20.0
121.4

80.49
80.59
81.75

April
May
June

47.09
66.96
66.35

1,562
1,345
1,348

113.7
106.9
107.0

82.24
81.90
80.97

July
August
September

71.65
66.15
61.59

1,507
1,496
1,570

107.7
107.8
116.4

79.68
80.18
80.57

October
November
December

79.63
69,70
71.47

1,541
1 705
1,492

U5.2

119.1
122.3

81. -89
82.43
84,07

fc> 94-41
69.98
63.50

g> 1,845
1,664
1,567

117.2

65.82
85.60
79.12

rl,548
r 1,491
Pl,423

R> 125.5

58 27
%L 72

56 72

76 7*5
Al AK

on LO

rjf.

Qf\
ifo.yu

rye iro
O.5.3

...

Ai *;n

r»» Lrt
f*t>« W
wj, QO
fi*.. 7*

7A ort

Of) pC

...

An Of)
20 42

78 82

7A
A/.
fO.O/f
77
f I » QO
TV
7A
t&
f o> PO
7A
f ° « 70
r"

62 ?0
20 41

77 05
79 Oi.

1968
97.2

64.75

80 77
80.79
80.59

62 60

81.59
80,32
80 86

63 20

80 09
82 40
85.08

65 90

AA T>
j>& 01
dr J.A

20.49

20.53

§J>21.03

* **
20 02

1969
January
February
March
April
May
June

123.4
118.7
rllO.6
pllO.8

84 43
84.99
85.16

86.46
|T^>. r86.88
p85.89

P20.17

R>
gu^*~ 68.90
*

90 OTl
iT^s* 91 A2

90 31

a?2.00
(NA)

r88 84
r*AQ A A

(NA)

July
August
September

a73.45

October
November
December

a74 00

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

1
Thia is a copyrighted series used by permission; it may not be reproduced without written permission from MeGraw-'Hill Information8 Systems Company* F. W. Dodge Division.
Data for 4th quarter 1968 to date are not comparable with data through the 3rd quarter 1968. For explanation, see page iii of
the May 1969 issue.

72




JULY 1969

CYCLICAL INDICATORS-Economic Process and Cyclical Timing

MAJOR ECONOMIC
PROCESS

Q| INVENTORIES AND INVENTORY INVESTMENT
LEADING INDICATORS

LAGGING INDICATORS

Inventory Investment and Purchasing

Inventories

TIMING CLASS ....
Minor Economic
Process.

Year
arid
month

19S7
January
February
March

245. Change in *31. Change in
business 1 book value of
mfg. and trade
inventories
inventories,
total1
(Ann. rate, •
(Ann. rate,
bil. dol.)
bil. dol.)

37. Purchased
materials, companies reporting higher
inventories1
(Percent
reporting)

20. Change in
book value of
mfrs.' inventories of mtls.1
and supplies
(Ann. rate,
bil. dol.)

26. Production 32. Vendor
materials, com- performance,
panies reporting companies recommitments 60 porting slower
days or longer®3 deliveries^
(Percent
(Percent
reporting)
reporting)

25. Change in
unfilled orders,
durable goods
industries1

*71. Manufacturing and
trade inventories, book
value

65. Manufacturers' inventories of
finished goods,
book value

(Bil. dol.)

(Bil. dol.)

(Bil. dol.)

Revised3

+9.*6

+12.8
+5.7
+5.0

48
45
46

+2.6
+0.4
+0.6

72
67
68

48
51
38

-0.63
-0.34
-0.98

138.25
138.73
139.15

25.43
25.68
25.82

April
May
June

+3^4

+6.4
+2.9
-0.7

37
40
43

-1.6
-0.4
-0.9

67
66
68

39
36
38

-0.17
+0.65
+0.79

139.68
139.92
139.87

26.22
26.41
26.36

July
August
September

+7^8

+5.6
+6.7
+4.2

40
42
44

+1.4
+0.2
-2.2

61
66
61

41
43
44

+0.50
+0.12
+0.01

140.34
140.90
141.25

26.43
26.61
26.64

+2.6
+13.1
+14.6

4

+9^5

?
46
54

+0.1
+0.6
+0.3

62
63
64

50
51
48

+0.88
+0.31
+1.45

141.46
142.55
143.77

26.63
26.70
26.81

+l!6

+4.0
+8.6
+4.0

55
53
52

-0.5
+1.2
+0.9

64
61
64

50
55
54

-0.09
+0.10
+1.16

144. n
144.82
145.15

26.97
27.09
27.21

April .
May
June

+9^9

+16.0
+15.9
+8.6

51
55
59

+4.0
+4.7
+1.7

68
64
67

52
52
52

+0.48
-0.34
-0.93

146.49
147.81
148.52

27.35
27.59
27.64

July
August..
September

+6.5
+10.3

59
55
40

+3.5
+2.0
*-0.9

68
66
60

56

-1.29
+0.49

149.06

+7)2

27.79
28.15

+1.9
-2.2
+0.6

62
60
60

52
60
56

+1.32
+0*54
+1,64

152.12
152.94

28.64
28.92

154.18
155.43
156.49

29.08
29.41
29.61

October.,
November.
December
1968
January.,.
February
March

October
November
December

1969
January
February
March
April
May
June . ,

+i6!5

+16.8
+9.8
+11.1

^>\6

+3.8
+15.0
+-12. 7

43
47
49

-0.4
-0.4
+4.0

57
58
63

62
61
61

+0.36
+0.56
+0.16

r+12.9
pHl.2
(NA)

49
52
50

+1.3

P+9*.5

65
64
66

68
69
70

+1.30
r+0.42
p-0.99

+2.8
(NA)

15o!?2

r!57.57 _ 29.98
I>pl58.50 IO90.41
(NA)
(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 B>; for series that move counter to movements in general business activity (series 3, 5, 14, 39, 40, 43, 44, 45, and 93), current low values are indicated by
fc>
Series numbers are for identification only and do not reflect series relationships or order. Complete titles and sources are shown at the back of the book. Series
preceded by an asterisk (*) are included in the 1966 NBER "short list" of indicators (chart B8). The "r" indicates revised; "p", preliminary; V, estimated; "a , anticipated;
and "NA" not available.
1
Series that reached their high values prior to 1967 are as follows: Series 245, high value (+19.8) reached in 4th quarter 1966;
Series 31, high value (+20.0), in June 1966; Series 37, high value (63), in Nov. 1964; Series 20, high value (+5.7), in Aug. 1966;
Series 36, high value (75), in Oct. 1966; Series 32, high value (86), in Mar. 1966; Series 25, high value (+1.82), in Sept. 1966.
3
See "New Features and Changes for This Issue," page iii.
BCII JULY 1969




1$

CYCLICAL INDICATORS-Economic Process and Cyclical Timing

MAJOR ECONOMIC
PROCESS

Q PRICES, COSTS, AND PROFITS
LEADING INDICATORS

TIMING CLASS ....

Minor Economic
Process.

Year
and
month

Sensitive ComStock Prices
modity Prices

*23. Indexof
industrial
materials
prices©1

Profits and Profit Margins

* 19. Index of *16. Corpostock prices, rate profits
1
500 common after taxes
stocks©

(1957-59*100) (1941-43-10)
1967

(Ann. rate,
bil. dol.)

22. Ratio of
profits to
income 01 iginating, corporate, all
indus.1
(Percent)

Revised3

Revised3

15. Profits
(after taxes)
per dollar of
sales,1 all mfg
corp.
(Cents)

*17. Ratio,
price to unit
labor cost
index, mfg.1

ROUGHLY COINCIDENT
INDICATORS

LAGGING INDICATORS

Comprehensive Wholesale
Prices

Unit Labor Costs

68. Labor
cost (cur.
dol.) per unit
of gross pro d.
(1958dol.)(
nonfin. corp,
(1957-59-100) (1957-59-100) (1957-59-100) (Dollars)
55. Index of
wholesale
prices, tndus.
commod, @

58. Indexof
wholesale
prices, mfd.
goods@

Revised3

(a)

*62. Indexof
labor cost
per unit of
output, mfg.

(1957-59-100)

(a)

January
February
March

106.8
105.2
102.5

84.45
87.36
89.42

46.*i

ul9

516

102.1
101.9
101.2

105.8
106.0
106.0

106.4
106.4
106.3

0.76!

104.2
104.4
105.0

April
May

100.1

June

46^4

111 9

5lo

101.4
100.8
100.3

106.0
106.0
106.0

106.2
106.3
106.6

0.702

104.7
105.5
106.3

99. 8

90.96
92.59
91.43

July
August
September

98.3
98,1
97.8

93.01
94.49
95. SI

47^6

111?

k.9

100.3
100.2
99.6

106.0
106.3
106,5

106.8
106.8
107.1

0.709

106.5
106.6
107.5

October
November
December

97.7
99.1

95.66
92.66
95-30

49^9

12!!

sli

100.0
100.2
100.9

106,8
107.1
107,4

107.1
107.3
107.6

0.712

107.1
107.1
106.6

ru5

sli

99.8
99.7
100.0

107.8
108.3
108.6

108.1
108.7
108.9

0.719

108.3
109.0
108.9

99.6

100.1

1968

January
February
March

100.1

95-04
90.75
89.09

98.3
96.1
95.6

95.67
97.87
100.53

49^7

11.4

slo

100.0
99.5
99.3

108.8
108.6
108.8

109.1
109.1
109.4

0.718

109.1
109.7
109*6

94.4
94.8

100.30
98.11
101.34

5o!6

iili

sli

99.$
98.3
98.1

108.8
108.9
109.2

109-7
109.5
109.9

0.722

in. 4

sli

98.5
98.8
98.7

109.7
109.9

no. 2

110.0
110.3
110.5

0.732

> ^.745

99.8
99-5

April
May
June
July
August
September

96.1

October
November
December

47^9
•..

100.3
100.7

103.76
105.40
^>106.48

5l!o

January
February
March

103.4
106.3
106.9

102.04
101.46
99.30

8^5i:7

April
May
June

109.3
110.4

101.26
104.62
99. H

(N/O

m.9

4

97.5

illi

109.9

112.0
101.7

in. 6
112.0

1969

July
August
September

in. 6

3

• •*

01.2

5 16

r99.2
rlOO.2
rlOO.O

110.9
111.4
U2.o

111.3
101.7
112.2

(NA)

(NA)

r99.6
rlOO.l
plOO.4

112.1
112.2
t*L12.2

112.4
U2.3
!>H3.2

(NA)

rl!2.2
rlll.5
P102.2
)>rll2.9
rl!2,7
pl!2.8

94*74

October ...........
November
December
'.
NOTE: Series are seasonally adjusted except those series that appear to contain no seasonal movement. Unadjusted series are indicated by © . Current high values are
indicated by 0>>; for series that move counter to movements in general business activity (series 3', 5,14, 39, 40, 43, 44, 45, and 93), current low values are indicated by
[tb> • Series numbers are for identification only and do not reflect series relationships or order. Complete titles and sources are shown at the back of the book. Series
preceded by an asterisk (*) are included in the 1966 NBER "short list" of indicators (chart 88). The V indicates revised; "p", preliminary; V, estimated; "a", anticipated;
and "NA", not available.

'•Series that reached their high values prior to 1967 are as follows: Series 23, high value (123.5) reached in Mar. 1966;
Series 22, high va3ue (33.9),
in 1st quarter 1966; Series 15, high value (5.8), in 1st quarter 1966; Series 17, high value
(105.2), in July 1966. 3See "New Features and Changes for This Issue," page iii. 3Average for July 1, 8, and 15.
4
Average for July 17, 18, and 22.

74




JULY

CYCLICAL INDICATORS-Economic Process and Cyclical Timing

MAJOR ECONOMIC
PROCESS

H| MONEY AND CREDIT
LEADING INDICATORS

TIMING CLASS ....
Minor Economic
Process

Year
and
mo ith

1967
January
February
March.... 1

Flows of Money and Credit

98. Change in
money supply
and time
deposits

85. Change in
U.S. money
supply

(Ann. rate,
percent)

(Ann. rate,
percent)

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

Credit Difficulties

110. Total pri*113. Net change 112. Change in
in consumer
business loans1 vate borrowing
installment
debt
(Ann. rate,
bil. dot.)

(Ann. rate,
bil. dol.)

(Ann. rate,
mil. dol.)

+13.56

-0.72
+10.56
+9.72

+9.77
+12.42
+10.69

+2.42
+1.42
+2.84

+7.04
-0.55
+6.83

60,804

April
May
June

+5.28
+13.68
+14.28

-4.80
R>+13.20
+11.04

+12.67
+15.31
+16.97

+1.08
+2.28
+3.84

+9.25
+1.63
+8.09

61,864

July....
August
September

+13.80
+11.88
+8.04

+12.24
+7.44
+1.32

+17.75
+21.61
+21.20

+3.08
+4,78
+3.76

+16.09
-9.19
-2.15

October
November
December

+7.68
+7.32
+6.00

+7.32
+5.28
+2.04

+19.82
+21.32
+20.33

+3.79
+4.69
+4.31

January .
February
March

+5.28
+4.92
+7.20

+6.60
+2.64
+4.56

+20.30
+19.27
+19.72

April
May . .
June

+4.20
+7.44
+6.12

+5.88
+11.76
+8.40

July....
August
September

+13.44
+13.32
+6.24

October
November
December

+10.20

B> +14.52

14. Current liabilities of business failures®

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

(Mil. dol.)

(Percent)

108.17
113.45
119.32

1^82
1.90

104! 64

l!72

66,044

72.55
108.90
93.94

l!65

+5.36
+2.66
+8.39

76,936

81.63
69.98
195.45

+4*79
+8*83
+7,46

+11.47
-2.39
+3.78

68,612

104,49
79.6Q
88.59

-t-19.07
r+21.62
-t-18.18

+7.69
+8.78
+8.59

+19.57
+2.09
+5.78

69,144

80.11
91.41
74.66

+12.84
+5-76
-5.04

+17.75
+18.28
+18.88

-KL0.28
+11.21
+8.58

+14.02
-4.25
+4.55

85,172

+11.16.
+12.60
+10.92

+4.44
+10.68
+7.56

+20.39
+21.68
0> +25.37

g> +11.36
+10.01
+9.30

+10.70
+11.27
+14.10

B>94,640

-3.60
-4.20
+0.60

+3.72
+0.60
+1.20

+20.90
+23.66
+20.09

+7.69
+9.58
+7.75

+17-10
+8.39
+5.35

p89,548

+4.56
r-3.60
p-2.40

+10.56
r-3.12
p+0.60

r+21.96
p+21.06
(NA)

+9.12
+10.15
(NA)

+16.16
+9.08
JH-7.25

1.66
l.*74

1968

90.27
65.77
58.65
r^

l.*51
1.59
l.*57

l!56

65 38

'

E>58.65
83.41

il?i

75.03
89.99
84.12

iisi

1969
January
February
March...
April
May
June

(NA)

118.76
92.60
91.92

1.60
(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 K>- for series that move counter to movements in general business activity (series 3, 5, 14, 39, 40, 43, 44, 45, and 93), current low values are indicated by
to>> Series numbers are for identification only and do not reflect series relationships or order. Complete titles and sources are shown at the back of the book. Series
preceded by an asterisk (*) are included in the 1966 NBER "short list" of indicators (chart B8). The V indicates revised; "p", preliminary; "e , estimated; "a", anticipated;
and "NA", not available.
1
This series reached its high value (+21.11) in July 1966.

JULY 1969




75

CYCLICAL INDICATORS-Economic Process and Cyclical Timing

MAJOR ECONOMIC
PROCESS ... .

Q MONEY AND CREDIT-Con.
ROUGHLY COINCIDENT INDICATORS

TIMING CLASS ....
Minor Economic
Process

Year
and
month

Bank
Reserves

93. Free^
reserves ©

(Mil. dol.)

LAGGING INDICATORS

Money Market Interest Rates

(Percent)

(Percent)

(Percent)

1967
January
February
March

L 76

5 53.

L LQ

-L

L ??
*<;
**••

1. l.rt

+236

L 2Q

e qc
PO2
c cc

April
May
June

+17 S
-I-269
+2Q7

3

July
August
September

4-272

L 31

6 06

4-298
+268

4 28

6 30
6 33
6 53

1 1Q
e. A A

October
November
December

-16

4-160
+2?0
+10?

*72. Commercial *B7. Bank
118. Mortgage
and industrial rates on short- yields, resiloans out stand- term business dential ©
ing, weekly re- loans, 35
porting large com- cities ©
mercial banks
(Percent)
(Mil. dol.)
(Percent)

114. Treasury 116. Corporate 115, Treasury 117. Municipal 66. Consumer
bill rate®
bond yields© bond yields© bond yields© installment
debt

(Percent)

fte

o .Oi*.
AA
J
t Aft

4

I.C

L 59
4 76
5 01

c cq

c on
6 06
p. 7U

Interest Rates on Business
Loans and Mortgages

Outstanding Debt

^ SA

(Mil. dol.)

7 A TQI
7 A ?f)Q
7A 1AA

A
A OQA
ou,
yjo
AT
T QJ>
OJ.,JJ8
AT
coo
ol,:>V^

o do
.3 .07
Q. .70
OA
3

7A A^A
7 A ft9A
77
1 AA
f f a JAO

Ao *>r»o
62,^09
AO
CfJA
o*d,;>BU

4 86

A O9

T7
j no
(f W3

A5 Q1 1
o^,yj_L

0*;
A OQ
4.
77

3

rjn

AO

1. l.K

4 O-CT14 rjL
A

rtA

4

0

CO

j O*
3 • CC
??

3 ,OU
60
J

QO

Ao *3J
*c
0*1
^45

f

Ar)T

ft17

A 19

^ f »t3UX
rtn -1 -I (
/c5>il4

A^
0^ A
VJ)<>1±Q

A ^n

7ft
A 3fn
fO,4jU

A3 *?0°

A 3A
A Aq

7ft ft91

6A. 053
65 102

6 87
6 93

5 36

6 57
6 57
6 80

5 18
?.j.o
e, 16
c -ao

A. 29
A 31

70

L ^L

ftO Q^7

6 79

5 28

5 40
5 23

L 3A.
L 5A
A. 50

82 310
83 026

7Q
1#O
f7,XoU

A Ao
1L

A
10
o.jy

6

& Off
5»95

61 |
.44
6m
.51

A
-ac
OOP

A oo
O.^V

)-0
6 OP

A An

ff QC
P » 7?

A Ao
A A«

6 • 77
(f

^ yo
OA
p.

A

fti

1968

January
February
March

+Wi

5 08

+38

L 97

C7Q

65,363

dn OT c

65 73 A.

-315

5 14

April
May
June

-A13
-326
-341

5 36
5 62

5*54

7.00
7.02

July
August
September .........

-226
-190
-132

5,38
5.10
5.20

6.91
6.54
6.69

5 09

A. 33

5.04
5.09

4.21

ft3 ftft^?
ftA ft!7

4.38

October
November
December
1969

-167
-245
-310

5.33
5.49
5.92

6.88
7.00
7.28

5.24
5.36
5.66

January
February
March

-480
-596
-701

6.18
6.16
6.08

7.29
7.33
7.76

-844
jfc>r-l,102
p-1,096

6.15
6.08
g> 6.49

7.54
7.62
B>8.04

April
May
June

1

66

A qA

063
6 84

6.89

85 532

68 178
68 695
69,225

4.49
4.60
4.82

86^479
87,313
88,088

70, 264
71,536
72,346

6.61

5.74
5.86'
6.05

4.85
4.98
5.26

88,729
89,527
90,173

73,410
74,698
74,674

7 32

5.84
5.85
R> -°5
p^-^

5.19
5.33
Br^* 5.76
&~>
'* f

90,933
B>91,779

76,659
lfc>. 77,176
p77,008

6

C7ft

(NA)

ftl
<7ft

A fto
o.oj

67 446
67 306
67 702

ft!

A

6

QJ.
6^ •*?

(HA)

7 ro
f O^

7 .4<i
0c
7 »^5
oe>
7 ,xio

1o

7O
O
.*7

7 36
7.50

fMA>

7 99
8 05

3 nA
S nA

fc>7*86

fir***?*.Q.^?
A o<;
EL-^

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
[tBU. Series numbers
preceded by an asterisk (*
and "NA W , not available.

76




JULY 1%9

BUI

CYCLICAL INDICATORS-Selected Indicators by Timing

Q COMPOSITE INDEXES
Year
and
month

810. Twelve
leaders, reverse
trend adjusted x
(series 1,4, 6,
10,12,16,17,
19,23,29,31,
113)

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

830. Six
(aggers (series
44,61,62,67,
71, 72)

(1963-100)

(1963-100)

(1963=100)

Leading indicator subgroups
813. Marginal
employment adjustments
(series 1, 4, 5)2
(1963=100)

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

815. Inventory
investment and
purchasing
(series 223, 25,
3U7)

(1963=100)

(1963-100)

816. Profitabil- 817. Sensitive
ity (series 16, financial flows
(series 33, 85,
17, 19)2
112, 113)
(1963-100)

(1963-100)

1967
January
February
March .

124.2
123.1
123.3

141.2
140.9
141.5

150.0
149.5
149.7

103.8
100.299.1

103.1
103.3
103.4

103.2
101.6
100.7

113.8
113.6
113.8

95.8
97.1
97.9

April.:
May
June

123.6
124.0
126.1

141.4
141.3
142.3

3A9.8
149v6
150.3

98.2
98.1
99.8

104.5
105.5
10 .9

99.5
100.2
100.2

114.3
114-4
113.8

95.5
98.4
99.8

July...
August
September

126.6
128.7
128.6

143.1
144.5
143.7

150.6
150.4
151.4

98.7
100.6
101.2

107.4
109.3
108.9

99.9
100.3
99.5

114.5
114.7
115.0

100.3
98.7
97.6

October
November
December
1968
January
February
March.

129 . 9
131.4
133.8

143.2
146.8
149.0

152.0
152.9
154.8

100.6
101.0
101.3

109.8
110.1
112.5

100.9
102.0
104.2

13-5.6
115.6
116.5

99-7
100.0
99.3

132.1
134.4
' 134.8

149.9
151.7
152.9

157.2
159.0
159.7

100.3
101.5
101.8

110.4
112.6
113.0

102.0
102.3
102.8

115.4
UA.O
114.1

100.5
100.4
100.6

135.0
136.0
137.2

153-7
154.9
156.3

162.4
163.7
164.4

100.8
101.9
102.4

111.3
111.1
112.2

102.7
101.8
100.9

116.0
116.5
117.4

102.6
102.8
101.7

July
August
September

rl39.2
139.1
r!40.6

r!57.3
r!57.8
159.0

164.1
166.7
167.7

104.0
101.4
r 102.3-

113.8
U4.9
116.1

100.1
101.6
100.1

117.4
115.8
116.7

104.3
101.5
99.5

October
November
December
1969
January
February
March

r!43.9
rl43.5
rl44.7

160.2
162.1
r 163.0

168.6
170.8
r!73.7

rl01.8
101.0
rlOO.5

118.8
117.6
119.1

102.2
102.0
102.9

rl!7.8
118.7
rl!8.9

103.6
_ 104.3
B>104.6

144.4
rl46.9
r!45.6

rl64.3
r 166.0
rl67.0

r!76.4
r 179.1
r!81.6

100.9
rlOO.O
rlOO.5

119.0
119.9
117.9

102.0
104.5
104.4

rl!8.3
rll9.0
r 118.0

102.4
102.4
100.4

r!48.5
r!47.9
g> PU8.6

167.7
rl69. 0
B>P170.6

r!83.5
r!85.7
g>P!86.1

101.6
rlOO.l
plOO.6

B> 119.9
rl!7.9
P117.1

rl06.0
r!05.7
P104-3

rll8.2
rl!9.9
pll8.4

104.5
pl01.6
(HO

April
May
June .'

April
May
June
July
August
September

....

October
Novetnber
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 [PC> ; for series that move counter to movements in general business activity (series 3, 5,14, 39,40,43,44,45, and 93), current low values are indicated by
fi>.. Series numbers are for identification only and do not reflect series relations hips or order. Complete titles and sources are shown at the back of the book. Series
preceded by an asterisk (*)are included in the 1966 NBER "short list" of indicators (chart B8). The V indicates revised; "p", preliminary; "e", estimated; "a", anticipated;
and "NA", not available.
1

Reverse trend adjusted index of 12 leaders contains the same trend as the index of 5 coincident indicators.
Series that reached their high values prior to 1967 are as follows: Series 813, high value (107.9) reached in March 1966;
Series 815, high value (110.1) reached in March 1966; Series 816, high value (120.1) reached in February 1966.
2

ItCII JULY 1969



77

ANTICIPATIONS AND INTENTIONS

AGGREGATE SERIES
Year
and
quarter

61. Business expenditures for new plant
and equipment

410. Manufacturers' sales,
total value

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

a. Actual
expenditures
(Ann, rate,
bil. dol.)

(Percent)

(Percent)

(Bil. dol.)

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

(Percent)

416. Adequacy 43i5. Index of
of mfrs.' capac- consumer
sentiment
ity: percent
considered inadequate less percent considered
(First quarter
excessive
(Percent)
1966=100)

1966
First quarter...
Second quarter..
Third quarter...
Fourth quarter..
1967
First quarter...
Second quarter..
Third quarter...
Fourth quarter..
1968
First quarter...
Second quarter..
Third quarter...
Fourth quarter..
1969
First quarter...
Second quarter .
Third quarter...
Fourth quarter..

58.00
60.10
61.25
62.80

98.6
99.2
100.6
99.7

97.8
93.0
100.7
101.2

131.2
134.0
135.3
137.5

70.0
72.7
75.5
78.1

11
14
19
26

47
45
46
42

100.0
95.7
91.2
SS.3

61.65
61.50
60.90
62.70

101.5
100.1
102.6
99.0

102.9
101.2
103.1
99.9

135.0
135.6
137.4
140.7

80.1
81.1
81.7
82.8

30
29
23
22

40
40
41
38

92.2
94.9
96.5
92.9

64.75
62,60
63.20
65.90

100.1
103.2
102.7
102.0

100.5
102.7
104.5

045-2
149.5
152.7
156.6

83.8
85.6
87.1
88.6

22
22
21
16

35
40
42

95.0
92.4
92.9
92.1

68.90
a72.00
a73.45
a74.00

104.0

103.3

159.2
al6l.2
al65.3

90.3
a92.8
a95-l

18
(NA)

43
(NA)

95.1
91.6

98.9

AGGREGATE SERlES-Con.
Year
and
quarter

4$). Family income of households compared to a year ago, households reportinga. No change b. Higher
in income
income
(Percent)

(Percent^

c. Lower
income
(Percent)

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

430. Household purchases of new cars

2-quarter moving avemge
a. Actual
b. Increase c. Decrease (quarterly)
b. Actual
c. Antici- d: Anticipated
less decrease in income
as percent of
pated
(Ann. rate, (Ann. rate, (Ann. rate, actual
mil. cars)
(Percent)
mil. cars)
mil. cars)
(Percent)
(Percent)

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

52.4
55.2
53.9
54.2

35.4
32.9
34.2
33.3

11.2
11.0
11.0
11.6

52.3
47.5
48.1
51.2

36.0
40.9
40.3
38.0

11.1
10.9
11.0
10.1

16.0
15.8
17.4
16.2

10.1
9,9
11.2
10.2

52.9
53.0

36.4
35.9

10.0
10.5

19.3
18.3
18.4
16.7
16.5
18.1

7.3
7.5
6.8
6.8

7.4
7-4
7-1
6.8

5.9
5.9
6.2
6.0

7.4
7.9
•8.7
7.8

7.7
8.3
8.3

13.8
12.5
11.9
11.2

5.5
5.8
6.5
5.5

8.1
(NA)

7.9
(NA)

11.3
12.0

5.2
6.1

1968
First quarter...
Second quarter.
Third quarter ..
Fourth quarter..
1969
First quarter..,
Second quarter.
Third quarter..
Fourth quarter .
1970
First quarter...
Second quarter.
Third quarter..
Fourth quarter..

7.6

7.6

96
92
92

7.a
7.6
7.9

(MA)

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

78




JULY 1969

ltd*

ANTICIPATIONS AND INTENTIONS

DIFFUSION INDEXES
Year
and
quarter

D440. New orders, manufacturing1
Actual

D442. Net profits, manufacturingl
and trade'

(4-Q span)

(4-Q span)

(4-Q span)

88
88
84
82

86
88
88
84

82
82
78
76

84
86
84
82

71
72
69
72

82
82
80
81

65
65
64
69

78
78
79
80

80
83
82
81

81
(NA)

82
85
83

(4-Q span)

Anticipated

Actual

Anticipated

Actual

Anticipated

D444. Net sales, manufacturing
and trade

(4-Q span)

D446. Number of employees,1
manufacturing and trade
Anticipated

Actual

(4-Q span)

(4-Q span)

(4-Q span)

1966
First quarter...
Second quarter..
Third quarter,..
Fourth quarter..

85
82

88
90
90
36

65
66
63
62

62
63
63
62

75
74
76
76

71
70
72
74

80
82
82
82

58
58
58
58

60
60
60
60

70
73
72
74

74
80
78
73

79
82
82
84

82
86
86
84

57
60
53
60

60
60
58
60

70
(NA)

78
79
77

80
(NA)

86
88
86

59
(NA)

60
60
60

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

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

1969
First quarter...
Second quarter .
Third quarter...
FourtSi quarter..

DIFFUSION INDEXES--Con.

Year
and
quarter

D450. Level of inventories, manufacturing
and trade1

Selling prices
D460. Manufacturing
and rade a

D462. Manufacturing1

D464. Wholesale trade 1
Anticipated

D466. Retail trade1
Actual

Anticipated

(4-Q span)

(4-Q span)

Anticipated

Actual

Anticipated

Actual

Anticipated

Actual

(4-Q span)

(4-Q span)

(4-Q span)

(4-Q span)

(4-Q span)

(4-Q span)

(4-Q span)

(4-Q span)

74
74
73
74

66
68
69
69

74
74
80
78

66
69
74
70

70
72
78
76

65
68
72
68

78
76
82
78

68
72
76
72

78
78
84
80

63
70
76
75

68
66
65
64

65
66
63
62

72
72
76
78

75
72
70
72

70
70
72
73

74
72
68
70

74
74
80
82

76
73
69
74

74
80
84
87

76
76
72
78

68
68
70
70

63
66
67
66

78
80
81
84

76
79
78
78

74
76
78
80

74
76
75
76

81
82
82
85

78
82
78
78

88
88
88
92

81
84
86
87

71
(NA)

66
68
66

84
(HA)

78
80
80

82
(NA)

75
79
78

85
(NA)

79
80
80

91
(NA)

84
84
84

Actual

1966
First quarter...
Second quarter •
Third quarter..
Fourth quarter..

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

1968
Firslt quarter...
Second quarter.
Thifd quarter..
Fourth quarter .

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

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

This is a copyrighted series used by permission; it may not be reproduced without written permission from Dun & Bradstreet, Inc.

IMJI JULY 1969



79

ANTICIPATIONS AND INTENTIONS

Qj DIFFUSION INDEXES -Con.
Year
and
quarter

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

1966
First Quarter
Second quarter. —
Third quarter
Fourth quarter
1967
First quarter
Second quarter. —
Third quarter
Fourth quarter
1968
First quarter
Second quarter. ...»
Third quarter
Fourth quarter
1969
First quarter
Second quarter ....
Third quarter.
Fourth quarter

(1-Q span)

b. Anticipations

a. Actual
carloadings

c. First
anticipations

b. Second
anticipations

480. Change in
freight car load sngs ®

D480. Freight carloadings®

(1-Q span)

(4-Q span)

(4-Q span)

(Tnous, of cars4-Q span)

83.3
83.3
55.6
75.0

62.5
71.9
37.5
65.6

56.2
71.9
71.9
75.0

73.7
73.7
57.9
52.6

73.7
89.5
04.2
78.9

+28
+18

55.6
30.6
33.3
61.1

50.0
41.7
44.4
50.0

53.1
52.8
58.3
44.4

42.1
31.6
10.5
42.1

78.9
52.6
78.9
73.7

-51
-B&
-130
-88

66.7
38.9
55.6
55.6

63.9
55.6
69.4
83.3

63.9
47.2
80.6
55.6

31.6
68.4
(NA)

73.7
63.2
73.7
68.4

-16
r+29
+52
-9

83.3
(NA)

83.3
75.0

72.2
50.0
69.4

78.9
89.5

-9
r-10

+21
+1

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

80




JULY 1969

OTHER KEY INDICATORS

Q FOREIGN TRADE
500. Merchandise trade
balance (series 502 minus
series 512)

Year
and
month

(Mil. dol.)

502. Exports, excluding
military aid shipments,
total

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

(Mil. dol.)

(Mil. dol.)

508. Index of export orders,
nonelectrical machinery

512. General imports, total

(1957-59-100)

(Mil. dol.)

1967
+322
+366
•+359

2,639
2,582
2,524

920
855
904

235
196
252

2,317
2,216
2,166

+410

2 608
2,549
2,582

793
1,005
961

215
220
218

2,198
2,118
2,184

2 601
2,566
2,597

907

219

007

00 A

92 A.

2^1

829

25ft

ft71
99?

OqJ,

+184

2,415
2,671
2,677

January
February
March

r+128
+184
-150

2,814
2 775
2 439

909

215
260
252

_O
Cttft
Tidfjoo

April
May .
June

r+251

r2,855
r2,740
r2,870

917

?H

2A("Vi

1,047

237
223

2 , 7cc
f 5.)

914
988

923

246
245
256

-o 7pc
-o 070

r+260

r2,858
r2,950
r3,211

T*-in5
+89
r+70

r2,631
r2,972
r2,977

1 268

2M,

r«9

925

2^2

T? ft

1,082

239

r2 908

January
February
March

+75
-359
+215

2,093
2,297
3,196

834

1,391
1,118

242
260
222

2 018
2 65*5
? Qftl

April
May
June

+178
+16
+25

3,355
3,292
3,213

rl,110
pi, 220
(NA)

r248
p243
(NA)

? 177
^ 276
3,188

January
February
March.,..
April
May
June.

+398

July ..
August
September

+421
+399

4A?2

4_QC7

October
November
December

+161
+•27 %

<34
255

OJ C
2 ,<4?

O T I C
^,-L*4-!>
21QA

2 25A.
2 ?Q6
2 A.9T

1968

r-15
r+?8

July
August
September

•y.VIQ'J

4/7A

October
November
December

1 007
1*314

989

DCSf
2 , /.£>7
2 )57<>
CQO

2700

r2,951
r^, 7QA
o°
ft?

1969

July
August
September

...

.

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

IICII

JULY 1969




81

OTHER KEY INDICATORS

BALANCE OF PAYMENTS AND MAJOR COMPONENTS
Year
and
quarter

1966

250. Balance on goods and
services, excluding military
grants

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

520. Liquidity balance
basis

(Mil. dot.)
Revised6

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

Net capital movements plis unilateral transfers
and errors and omissions
525. 1Liquidity balance
basis

(Mil. dot.)
Revised6

(Mil.dol.)
Revised6

527. Official
settlements
basis2

(Mil.dol.)

(Mil. dot.)
Revised6

Revised6

+481
+239

1,558
1,398
1,100
1,223

-2,158
-1,422
-1,526
-1,530

-1,902
-1,508
-619

-495
-330
-1,031
-1,688

-1,7H
-719
-71
-917

1,361
1,451
1,404
961

-1,856
-1,781
-2,435
-2,649

-3,072
-2,170
-1,475
-1,878

-564
-51
-162
+870

-379

+1,553
+97
+368

471
841
909
301

-1,035
-892
-1,071
+569

-850
+712
-012
+67

rp-1,704
(NA)

(NA)

P365
(NA)

p-2,069
(NA)

(NA)

-600
-24

-344

-426
-307

-no

-984

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

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

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

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

1966
First quarter...
Second quarter.
Third quarter..
Fourth quarter..

530. Liquid
liabilities to
to all
foreigners3®

(Mil. dol,)
Revised6

534. U.S.
532. Liquid
official
and certain
nonliquid lia- reserve
bilities to
assets4 ®
foreign official
agencies3©
(Mil. dol.)
(Mil.dol.)

Goods and services movements, excluding transfers under military grants
Income on investment, military
Goods and services
Merchandise, adjusted*
transactions, other serv., total
252. Exports

253. Imports

536. Exports

537. Imports

540. Exports

541. Imports

(Mil. dol.)

(Mil. dol.)
Revised6

(Mil. dol.)
Revised6

Revised6

Revised6

Revised6

(Mil. dol.)
Revised6

Revised6

(Mil.dol.)
Revised6

28,738
28,819
29,432
29,779

16,004
16,305
15,797
16,043

15,026
14,958
14,876
14,882

10,562
10,667
10,936
11,196

9,004
9,269
9,836
9,973

7,218
7,194
7,413
7,564

6,165

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

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

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

11,461
11,484
11,577
11,667

10,100
10,033
10,173
10,706

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

32,482
32,574
33,576
33,692

18,407
16,994
17,493
18,576

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

11,934
12,668
13,344
12,653

11,463
11,827
12,435
12,352

P35,056
(NA)

P16,913

p!5,758
(NA)

pll,890
(NA)

pU,525
(NA)

(Mil, dol.)

3,344
3,473
3,523
3,632

2,977
3,104
3,241
3,297

6,660
6,465
6,542

3,773
3,761

7,154

4,066

3,440
3,568
3,631
3,552

7,941
8,395
8,879
8,383

7,817
8,131

8,566
8,458

3,993
4,273
4,465
4,270

3,646
3,696
3,869
3,894

rp7,474
(NA)

rp7,577
(NA)

,
(NA)

(NA)

6,027
6,595
6,676

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

3,9oa

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

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

(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 dp not reflect series relationships or order. Complete titles and sources are shown at the back of the book,, The V indicates revised; V, preliminary;
V, estimated; "a", anticipated; and "NA", not available!
2
3
4
^•Series 520 minus series 250.
Series 522 minus series 250.
Mount outstanding at the end of quarter.
ResQrva
5
position at the end of quarter.
Balance of payments basis: Excludes transfers under military grants and Department ©;f
6
Defense salee contracts (exports) and Department of Defense purchases (imports).
See "New Features and Charges for This
Issue, " pafe iii.
82




JULY 1969

OTHER KEY INDICATORS

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

Income on investment, military transactions and other services (components of series 540 and 541)
Income on investments

Travel

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

1966
First quarter...
Second > quarter..
Third quarter...
Fourth quarter..
1967
First quarter...
Second quarter..
Third quarter...
Fourth quarter..
1968
First {Quarter...
Second quarter-.
Third quarter...
Fourth quarter..
1969
First quarter...
Second quarter .
Third quarter...
Fourth quarter..

Revised1

Revised1

Military transactions

Transportation and other services

544. Receipts
546. Sales under 547. Military
545. Payments
from foreign trav- by U.S. travelers military conexpenditures
elers in the U.S. abroad
tracts
abroad
(Mil. dol.)
(Mil. dol.)
(Mil. dol.)
(Mil. dol.)
Revised1
Revised1
Revised1
Revised1

548. Receipts
from

549. Payments
for

(Mil. dol.)

(Mil. dol.)

Revised1

Revised1

1,285
1,308
1,337
1,371

977
1,000
1,031
1,048

1,482
1,557
1,573
1,640

479
503
569
591

379
389
411
411

6A4
676
666
671

198
219
202
210

1,612
1,580
1,801
1,879

584
591
580
607

416
391
416
423

701
841
914
739

333
335
239
332

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

1,415
1,455
1,452
1,432

1,070
3,061
1,031
1,094

1,771
1,973
2,040
1,917

671
742
770
749

440
424
450
456

763
732
792
735

305
353
406
364

1,102
1,116
1,143
1,169

1,477
1,523
1,569
1,533

1,110
1,106
1,164
1,241

p2,075
(NA)

p894
(NA)

P508
(NA)

p791
(NA)

P416
(NA)

pl,198
(NA)

Pl,417
(NA)

pl,065
(NA)

877
925
975
987

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

Capital movements plus Government nonmilitary unilateral transfers

560. Foreign investments in the U.S.
(Mi!, dol.)

1966
First quarter...
Sectind quarter.
Third quarter..
Fourth quarter..
1967
First quarter...
Second quarter.
Third quarter ,.
Fourth quarter..
1968
First quarter...
Second quarter.
Third quarter..
Fourth quarter .
1969
First quarter...
Second quarter,
Third quarter..
Fourth quarter..

Securities investments

Direct investments
561. U.S. investments
abroad
(Mil. dol.)
Revised1

Revised1
52

38
-113
110
64
70
12

r251
r5
r23
r41

p213
(NA)

564. Foreign purchases 565. U.S. purchases
of foreign securities
of U.S. securities
(Mil. dol.)
(Mil. dol.)
Revised1

Revised1

570. Government
grants and capital
transactions, net
(Mil. dol.)
Revised1

575. Banking and
other capital transactions, net

(Mil. dol.)
Revised1

728
934
917
1,060

173
520
107
109

322
80
87
-7

-1,063
-1,054
-825

118
446
325
378

717
533
947
956

133
329
520
34

223
266
476
301

-1,121
-955
-961
-1,174

462
467
-329
-199

472
1,009
1,262
283

r839
rl,ll6
rl,115
r1,290

311
164
337
455

-977
-359
-788
-366

230
245
96
577

rpl,372
(NA)

P325
(NA)

P-874
(NA)

P-94
(NA)

-789

NOTE: Series are seasonally adjusted except those series that appear to contain no seasonal movement. Unadjusted series are indicated by ®, Series numbers are for
identification only and do not reflect series relationships or order. Complete titles and sources are shown at the back of the book. The V indicates revised; "p", preliminary;
"e", estimated; "a", anticipated; and "NA", not available.
1
,See "New Features and changes for This Issue," page iii.

ItCII

JULY 1969




83

OTHER KEY INDICATORS

Q FEDERAL GOVERNMENT ACTIVITIES
Receipts and expenditures
Year
and
month

Defense indicators

601. Federal 602. Federal
600. Federal
264. National
surplus (+)or receipts, na- expenditures, defense purdeficit(-) , na-tional income national income chases
and product
tional income and product
accounts
accounts
and product
'accounts
(Ann. rate,
(Ann. rate,
(Ann. rate,
(Ann. rate,
bil. dol.)
bil. dol.)
bil. dol.)
•nil. dol/i

616. Defense
Department
obligations,
total, excluding
military
assistance
(Mil. dol.)

621. Defense
Department
obligations,
procurement
(Mil. dol.)

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

_@il. dol.)

(Bil. dol.)

625. Military
prime contract
awards to U.S.
business firms
and institutions
(Mil. dol.)

Revised1

Revised1

Revised1

Revised1

-12.0

147- 5

159.5

69.9

6,518
6,595
6,343

2,296
2,140
1,903

3.01
3.32
3.07

3,364
3,930
3,034

April
May
June

-13! 2

143.3

161.4

7l'. 9

6,211
7,732
6,891

1,754
2,480
2,290

3.17
4.04
3.93

3,026
4,040
3,566

July
August
September

-13*.4

152! 8

165 *.3

73*6

5,928
7,003
7,479

1,633
1,925
2,958

3.60
2.99
3.36

3,545
3,690
3,720

-12,*3

156!4

168 ! 8

74^6

7,449
6,565
6,331

2,735
2,173
1,846

3*98
3.64
4.36

3,626
3,308
3,479

4!i

165.'?

174 !l

76!i

7,033
7,615
6,208

2,360
2,865
1,985

3.51
3.86
5.07

April
May
June

-9^5

170.* 8

18o!3

77^9

6,765
7, WL
6,929

2,161
2,299
2,077

4.43
4.01
2.96

1.47
a. 27
2.06

3,488
4,203
3,067

July
August
September

-i!d

181.*4

184!2

78!e

7,544
7,659
7,989

2,323
2,804
3,234

3.67
3.91
3.55

1.91
2.36
1.92

3,937
3,173
3,836

-6!i

187 i 3

187 !i

79^3

7,520
7,286
6,603

2,298
2,520
1,959

4.41
3.89
4.20

2.38
1.95
2.31

3,903
3,378
3,821

+9!!
***

198*. 1

189 16

79*.6

7,852
7,216
6,303

2,307
2,207
1,542

4.02
4.39
3.81

1,84
2,31
2.15

3,468
3,658
2,777

<»A)

(NA)

pl9<X5

P78*.7

6,340
6,279
(NA)

1,442
1,304
(NA)

4.02
r3.81
p2.82

2.08
rl.79
pl.25

2,639
2,673
(NA)

1967
January
February
March

October
November
December
1968
January . .
February
March .

October . ..
November
December
1969
January .,
February
March
April
May
June

i!6G
1.31

2,087
3,445
3,324

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 onty.and do not reflect series relationships or order. Complete titles and sources are shown at the back of the book. The V indicates revised; "p", preliminary;
V, estimated; "a", anticipated; and "NA", not available.
1
See "New Features and Changes for This Issue," page iii.

84




JULY 1969

ICO

OTHER KEY INDICATORS

Qj PRICE MOVEMENTS

Consumer price indexes
Year
tlnd
month

781. All items® 782. Food

(1957-59=100)

(1957-59=100)

783. Commodities less foods

(1957-59=100)

Wholesale price indexes
784. Services® 750. All commodities®

58, Manufactured goods®

751. Processed
foods and
feeds

752, Farm products

(1957-59=100)

(1957-59=100)

(1957-59=100)

(1957-59-100)

(1957-59=100)

1967
January
February.
March

114.7
114.8
115.0

114.9
114.3
114.5

107.4
107.8
108.0

125.5
125.9
126.3

106.2
106.0
105.7

106.4
106.4
106.3

112.2
111.5
111.2

102.5
100.5
99.3

April
June

115.3
115.6
116.0

114.0
114.4
115.1

108.4
108.7
108.9

126.6
127.0
127,4

105.3
105.8
106.3

106.2
106.3
106.6

111.0
111.6
112.3

97.2
100.1
102.7

July
August
September

116.5
116.9
117.1

115.2
115.8
115.6

109.2
109.6
110.1

127.7
128.2
128.7

106.5
106.1
106.2

106.8
106.8
107.1

112.0
111.9
111.9

101.1
99.1
98.0

October
November
December

117.5
117.8
118.2

115.7
116.1
116.6

110.4
110.7
110.9

129.1
129.6
130,1

106,1
106.2
106.8

107.1
107.3
107.6

111.7
111.5
111.7

98.3
97.6
99.7

January .'
February
March

118.6
119.0
119-5

117.2
117.5
118.2

111.3
111.7
112.1

130.8
131.3
132.1

107.2
108.0
108.2

108.1
108.7
108.9

112.1
113.1
113.6

99.3
100.8
101.8

April
June

119.9
120,3
120.9

118.7
119.3
119.1

112.2
112.5
113.0

132.5
133.0
133.9

108.3
108,5
108.7

109.1
109.1
109.4

114.1
114.4
113.9

101.7
102.8
102.6

July...
August.
September

121.5
121.9
122.2

119.2
119.5
120.0

113.3
113.7
114.0

134,9
135.5
136.0

109.1
108.7
109.1

109.7
109.5
109.9

114.6
114.6
114-.5

102.1
101.2
102.7

October
November
December

122.9
123.4
123.7

120.8
121.0
121.6

114.4
114.8
115.0

136.6
137.4
138.1

109.1
109.6
109.8

110.0
110.3
110.5

114.5
115.3
114.9

102.7
104.7
103.9

January
February
March

124.1
124.6
125.6

122.2
122.0
122.8

115.1
115.9
117.0

139.0
139.7
140.9

110.7
111.1
111.7

111.3
111.7
112.2

115.7
116.1
117.1

r!06.2

April . .

126.4
126.8
127.6

123.6
124.2
125.5

117.2
117-5
118.0

142.0
142.7
143.3

111.9
112.8
113.2

112.4
112.8
113.2

118.6
120.2
120.7

May

1968

May

1969

May
June

j

105.3
104.5

r!05.1

109.6
111.3

Juiy..4
August
September
October
November
December
NOTE: Series are seasonally adjusted except those series that appear to contain no seasonal movement. Unadjusted series are indicated by © . Series numbers are for
identification only.and do not reflect series relationships or order. Complete titles and sources are shown at the back of the book. The V indicates revised; "p", preliminary;
"e", estimated; "a", anticipated; and "NA", not available.

ItCll JULY

1969




85

ANALYTICAL MEASURES

Q| ACTUAL AND POTENTIAL GNP

Year
and
quarter

206. Potential level x

205. Actual value

(Ann. rate, bil. dol.)
1966

First tjuarter
Second quarter
Third quarter
Fourth Quarter

207. Gap (potential less actual)

Gross national product in constant (1958) dollars

(Ann. rate, bil. dol,)

(Ann. rate, bil. c!oL)

Revised1

Revised'5^
649.1
655.0
660.2
668.1

637.6
643.9
650.2
656.6

-10,0
-11.5

666.5
670.5
6?8.0
683.5

663.1
669.6
6?6.2
682.9

-3-4
-0.9
-1.8
-D.6

693.3

689.6
696.4
703.3

710.2

-3.7
-9.4
-9.5
-8.3

r?l? . 2
724.3

p-3.0

-11.5
-11.1

1967

First quarter
Second quarter.
Third quarter
Fourth quarter
1968

First quarter
Second quarter* * • • •
Third quarter
Fourth quarter

70S A
712 &
718.5

1969

First quarter
Second quarter
Third quarter
Fourth quarter

7?^ 1
P727.3

-5.9

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 dp not reflect series relationships or order. Complete titles and sources are shown at the back of the book. The V indicates revised; "p", preliminary;
V, estimated; "a", anticipated; and "NA", not available.
1
Based on a trend line of 3-1/2 percent per year through middle of 1955 from 1st quarter 1952 to 4th quarter 1962, K3/A percent from 4th quarter 1962 to 4th quarter 1965, and 4 percent from 4th quarter 1965 to date.
'"•See "New Features and Changes for This Issue," page iii.

86




JULY 1959

ItCII

ANALYTICAL MEASURES

QH ANALYTICAL RATIOS

Year
and
month

850. Ratio,
output to capacity, manufacturing

(Percent)

851. Ratio,
inventories
to sales, manufacturing
and trade

(Ratio)

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

853. Ratio,
production of
businessequipment to
consumer
goods

(Ratio)

(1957-59=100)

854. Ratio,
personal saving to dispos*
ablepersonal
income

855. Ratio,
nonagriculturaljobopenings unfilled
to persons
unemployed

(Ratio)

(Ratio)

858. Output
per man-hour,
total private
nonfarm

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

859. Real
spendable avg.
wkly, earnings,
-nonagri.prod.1
or nonsupv.
workers

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

857. Vacancy
rate in total
rental housing®

(Percent)

1

1967
January i
February . .,
March.,..,

Revised
87 !i

1.57
1.59
1.59

3.51
3.50
3-46

126.0
127.6
125.6

0.075

0.138
0.133
0.127

127.8

2.41
2.42
2.43

78.23
77.91
77-89

6^6

April
May ...
June...

85*.6

1.59
1.59
1.57

3.53
3.50
3.48

124.3
124.6
123.3

0.676

0.121
0.118
0.117

128^9

2.42
2.42
2.43

77.65
77.79
77.91

6 ".3

July
August
September

84^3

1.59
1.57
1.57

3.54
3.40
3-48

123.1
121.7
122.3

0.074

0.117
0.020
0.115

129^5

2.43
2.44
2.43

78.18
78.23
78.51

6^4

October
November
December

84*. 8

1.59
1.57
1.56

3.54
3.44
3.39

119.4
122.2
119.9

0.077

0.109
0.118
0.119

130.0

2.43
2.44
2.45

78.02
78.42
78.09

5^6

p84*9

1.55
1.54
1.54

3.37
3.36
3.39

121.2
119.6
118.3

0.069

0.128
0.124
0.129

131*9

2.47
2.46
2.48

77.77
78.79
78.64

5*5

April .
May
June

paiie

1.55
1.54
1.52

3.41
3.36
3.28

117.9
118.0
117.5

0.072

•0.137
0.140
0.132

132^7

2.47
2.48
2.48

78.14
78.81
79.25

5^7

July.. .
August. . t
September

P84!6

1.52
1.54
1.52

3.17
3.38
3.24

117.3
116.3
117.7

0.056

0.129
0.132
0.132

333 IS

2.48
2.48
2.50

79.00
79.07
79.74

'i.l

p84*.2

1.53
1.53
1.56

3.19
3.22
3.38

117.0
120.1
119.4

0.063

0.134
0.1AO
0.143

134 '.8

2.50
2.50
2.50

79-10
78.82
78.93

h.9

rp84!5

1.54
1.53
1.54

3.22
3.18
3.21

118.9
118.7
118.5

0.054

0.141
0.143
0.134

P134.4

2.51
2.50
2.49

79.10
79.09
79.39

5*6

p84!6

1.54
pl-54
(NA)

3.24
3.26
(NA)

r 119.8'
r!20.8
p!21.0

pO.058

0.133
rO.138
pO.139

2.48
rp2.48
r2.48

79.24
rp?9.04
P79.10

1968
January
February
March

October „ •
November
December
1969
January
February
March
April
May
June..

(NA)

(NA)

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

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

KCII JULY 1969



87

ANALYTICAL MEASURES

Qj DIFFUSION INDEXES: Leading Indicators

Year
and
month

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

1-month span

9-month span

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

1-month span

9-month span

Oil. Newly approved capital appropriations,
NICB (17 industries)

1 -quarter span

3-quarter span

\%1
January
February
March

69.0
7.1
81.0

11.9
9.5
9.5

40.0
54.3
32.9

34.3
34.3
38.6

47

53

April
May
June

40.5
28.6
64.3

16.7
38.1
31.0

48.6
54.3
64.3

65.7
61.4
65.7

53

41

July
August
September

71.4
59.5
76.2

76.2
61.9
40.5

40.0
72.9
42.9

74.3
91.4
70.0

53

59

October
November
December

28.6
71.4
45.2

81.0
69.0
14,3

60.0
54.3
74.3

71.4
71.4
68.6

41

41

1968
January
February . .
March

14.3
90.5
21.4

57.1
64.3
64-3

51.4
55.7
50.0

57.1
71.4
68.6

47

53

April
May
June

11.9
90,5
73.8

33.3
85.7
88.1

40.0
54.3
51.4

68.6
68.6
80.0

71

59

July
August
September

35.7
38.1
88.1

35.7
47.6
76.2

51.4
44.3
78.6

71.4
88.6
82.9

59

65

October,...
November
December . .
1969
January. . .
February
March

40.5
23.8
47.6

28.6
42.9
42.9

60.0
44.3
55.7

88.6
77.1
85.7

44

p76

47.6
31.0
95.2

P42.9
(NA)

57.1
62.9
40.0

r82.9
P70.0

pU

April
May
June

42.9
a

r33.3
^71.4

54.3

(NA)

(NA)

r45.7
p40.0

July

August
September
October
November
December ... .
NOTE: Figures are the percent of series components rising and are centered within spans: 1-month indexes are placed on latest month and 9-reonth indexes are placed
on the 6th month of span; 1-quarter indexes are placed on the 1st month of the 2d quarter and 3-quarter indexes are placed on the 1st month of the 3d quarter. Seasonally adjusted components are used. Table E4 identifies the components for most of the indexes shown. The "r" indicates revised; "p", preliminary; and "NA", not available,
'•Based on revised data. See "New Features and Changes for This Issue," page iii.




JULY 1969

BCII

ANALYTICAL MEASURES

Qj DIFFUSION INDEXES: Leading Indicators-Con.
D34. Profits,
manufacturing,
FNCB (about 1,000
corporations)

Year
and
month

1 -quarter span
196?
January
February
March

D19. Index of stock prices, 500 common
023. Index of industrial materials prices
(13 industrial materials)
stocks (77 industries)® 1

1-month span

9-month span

1 -month span

9-month span

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

1-month span

9-month span

48

90.9
92.2
6l.o

85.7
90.3
97.4

46.2
53.8
23.1

0.0
15.4
26.9

55.3
17.0
46.8

27.7
8.5
8.5

April
May
June

46

76.0
74.0
51-3

93.4
92.1
86.2

23.1
61.5
69.2

30.8
23.1
23.1

55.3
54.3
55.3

31.9
44.7
29.8

July
August
September

52

81.6
77.6
57.2

68.4
65.8
71.1

30.8
53.8
19.2

23.1
30.8
46.2

34.0
72.3
60.6

78.7
78.7
66.0

October
November ... .
December
1968
January
February ....
March..'

59

32.2
7.9
71.1

52.6
46.1
50.0

46.2
46.2
61.5

38.5
30.8
30.8

38.3
74.5
46.8

80.9
70.2
78.7

55

64.5
10.5
21.1

61.8
63.2
71-1

46.2
46.2
53.8

30.8
46.2
46.2

25.5
80.9
25.5

57.4
51.1
61.7

April
May
June

45

94.7
83.6
80.3

76.3
82.7
85.3

46.2
53.8
50.0

53.8
61.5
73.1

63.8
51.1
53.2

38.3
51.1
74.5

July
August
September

56

48.7
17.8
86.7

93.3
97.3
81.3

46.2
65.4
57.7

76.9
57.7
76.9

57.4
40.4
63.8

36.2
66.0
76.6

October
November
December
1969
January
February.
March

58

82.7
77.3
72.7

71.3
52.0
56.0

69.2
69.2
38.5

92.3
92.3
84.6

66.0
31.9
61.7

63.8
78.7
59.6

53

12.0
43.3
13. ^

73.3
40.0

53.8
61.5
46.2

84.6
80.8
76.9

72.3
38.3
55.3

70.2
46.8

,

April
May
June

(NA)

65.4
57.7
76.9

54.0
74.7
1.3
3

jufy.
August.
September .

2

48.9
57.4
23.4

57.7

October ,
November
December
NOTE: Figures are the percent of series components rising and are centered within spans: 1-month indexes are placed on latest month and 9-month indexes are placed on
the 6th month of span; 1-quarter indexes are placed on the 1st month of the 2d quarter. Seasonally adjusted components are used except in index 019 which requires no adjustment and index 034 which is adjusted only for the index. Table E4 identifies the components for most of the indexes shown. The V indicates revised; "p", preliminary; and
"NA", not available. Unadjusted series are indicated by®.
1
Based on 77 components through June 1967; on 76 components, July 196? through August 1968; and on 75 components thereafter.
3
Average for July 1, 8, and 15. -

BUI JULY

1969




89

ANALYTICAL MEASURES

19 DIFFUSION INDEXES: Roughly Coincident Indicators

Year
and
month

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

1-month span

6-month span

D47. Index of industrial production
(24 industries)

1-month span

6-month span

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

1-month span

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

6-month span

1 -month span

9-month span

Revised 1

Revised l

January
February
March

66.7
35.0
40.0

50.0
43.3
41.7

29.2
20.8
43.8

45.8
29.2
27,1

77.3
72.7
56.8

63.6
68.2
65.9

87.0
39.1
43.5

69.6
91.3
95-7

April
May
June

40.0
36.7
65.0

36.7
40.0
40.0

52.1
16.7
50.0

29.2
41.7
41.7

47.7
54.5
47-7

63.6
63.6
63.6

60.9
34.8
82.6

87.0
91.3
56.5

July
August
September

41.7
66.7
46.7

51.7
76.7
66.7

47-9
75.0
41.7

54.2
66.7
75.0

63.6
63.6
75.0

72.7
81.8
81.8

43.5
60.9
76.1

82.6
78.3
82.6

October
November
December . ...

65.0
93.3
73.3

68.3
83.3
85.0

56.2
37.5
83.3

75*0
77.1
83.3

72.7
77.3
90.9

81.8
90.9
95.5

37.0
6?.4
47.3

95.7
95-7
73.9

1968
January. .
February
March

68.3
75.0
65.0

96.7
86.7
86.7

37.5
70.8
75.0

77.1
83.3
75.0

90.9
84.1
68.2

90.9
95.5
90.9

73.9
65.2
32.6

82.6
91.3
91.3

April
May
June

66.7
66.7
85.0

86.7
85.0
76.7

41.7
70.8
79.2

83.3
70.8
79.2

72.7
63.6
61.4

75.0
84.1
81.8

26.1
60.9
65.2

87.0
91.3
87.0

July . .
August
September

63-3
81.7
58.3

78.3
81.7
75.0

58.3
64.6
66.7

75.0

75^0
70.8

68.2
70.5
72.7

84.1
81.8
86.4

63.0
58.7
34.8

78.3
47.8
78.3

October
November
December
1969
January
February
March

71.7
80.0
73.3

81.7
80.0
80.0

68.8
75.0
64.6

66.7
70.8
79.2

79.5
79.5
61.4

81.8
81.8
90.9

52.2
54.3
21.7

82.6
65.2
65.2

90.0
70.0
70.0

83.3
71.7
P73.3

54.2
62.5
91.7

r81.2

68.2
72.7
75.0

81.8
79.5
84.1

73.9
60.9
21.7

1967

April
May
June

41.7
61.7
P76.7

r54.2
r68.8
P70.8

83.3

P75.0

84.1
79.5
84.1

r?3.9
P56.5

r73.9
28,3

paa.3

July
August
September
October
November
December
NOTE: Figures are the percent of series components rising and are centered within spans: 1-month indexes are placed on latest month, 6-month indexes are placed on the
4th month, and 9-month indexes are placed on the 6th month of span. Seasonally adjusted components are used except in index D58 which requires no adjustrient. Table E4
identifies the components for the indexes shown. The V indicates revised; "p", preliminary; and "NA", not available. Unadjusted series are indicated by ©.
l
See "New Features and Changes for This Issue," page iii.

90




JULY 1969

ItCII

ANALYTICAL MEASURES

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

1968
Diffusion index components
February

January

December

November

March

Dl. AVERAGE WORKWEEK OF PRODUCTION WORKERS, MANUFACTURING1
(Average weekly hours)
All manufacturing industries

Durable goods industries:
Ordnance and accessories
Lumber and wood products
Furnituro and fixtures
Stone, clay, and glass products
Primary metal industries
Fabricated metai products
Machinery, except electrical
Electrical machinery
.
Transportation equipment
Instruments and related products
Miscellaneous manufacturing industries
Nondurable goods industries:
Food and kindred products
Tobacco manufactures
Textile mill products
Apparel and related products
Paper and allied products
Printing and publishing
Chemicals and allied products
Petroleum and related products
Rubber and plastic products
Leather and leather products

40. 8 o
(24)

o
+
o

o

o
o

-

1-40.1 +
(3D

2

r40.9
(95)

40.8

-

r40.7 o
(33)

40.7
(71)

o
o
o
-

r40.9
40.2
HO. 8
42.0
HI. 7
r41.5

+
+
o
+
4-

41.5
40.4
40.8
41.9
41.8
41.8

+

42.7 o
r40.7 o
r41.1 o
r40.7 •H
r39.1 +

42.7
40.7
41.1
40.8
39.3

40.7 o
r38.2 +
r41.0 +
r36.0 +
r43.0 +
r38.4 o
r41.7 4r42.8 H1.4 +•
37-7 -

40.7
39.6
41.2
3.6.3
43.1

40.4 o
41.7 +
41.4 +
42.3

41.3
41.2
40.4 +
42.0
41.5 +
41.6 +

40.1 +
40.0 +
40.7
41.9 +
41-7
41.9

40.3
40.8
40.2
42.1
41.6
41.2

+
+
+
+
+
+

40.7
40.9
40.8
42.3
41.9
41-8

42.3 o
40.6
42.5
40.6 o
39.3

42.3
40.2
41.6
40.6
38.8

+
+

42.4
40.4
41.4 +
40.7
39.1

42.3
39.8
41.5
39.7
37.7

+
+
+
+
+

42.8
40.7
41.6
40.8
39.0

40.9
r40.2
40.9
r42.0
r41.8
r41.8
r42.6
r40.9
r41.5
r40.8
r39.5

40.6
37.6
41.0
35.9
42.9

40.7
38.3
40.1
35.2
42.5

+
+
+

40.9
36.4
41.2
35-9
43-3

r40.9
r36.4
r41.1
r36.0
H3.4

38.4 o
41.9 +
42.6
41.5
37.9 -

38.4
42.0
42.4
41.3 +
37.6

40.7 o
36.9 +
40.8
36.2
43.3
38:2
41.9
41.8 +
41.4
37.4

+

+
+
+

40.9
36.3 +
41.4
36*2 o
43.3 o

37.9
41.7
42.5
40.7
35.5

+
+
+
+
+

38.3
41.8
43.1
41.4
37.6

38.3 +
r41.6 +
r42.9 41.4 o
37.7 o

41.5
40.4 +
o
+

40.6
(48)

r40.8
(48)

+

+
+

June*5

May

April

-

-

-

+

o
-

38;4
42.0
42.7
41.5
,37.5

06. VALUE OF MANUFACTURERS' NEW ORDERS, DURABLE GOODS INDUSTRIES1
(Millions of dollars)
All durable goods industries.

-

29,325 +
(44)

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

f

4,475
2,120

4,345
1,941 +
+
+

4,675
2,124 -

30,482 (63)

(57)

+

4,666
2,071 +

29,697 + 30,944 - r29,998 - 29,093
(40)
(46)
(40)
(54)
4,614
2,110 +

4,806
2,307 -

3,225
+
...

Machinery, except electrical
,
Steam engines and turbines*
Internal combustion engines*
Farm machinery and equipment
Construction mining, and material handling* ... . +
Metalworking machinery*
+
Miscellaneous equipment*

5,134

;

r4,772
2,246

f
f

4,830
(NA)

...

+

+

Machine shops.
Special industry machinery*
General industrial machinery*
Office and store machines*
Service industry machinery*

29,684 +

f

Fabricated metal products
Metal cans, barrels, and drums
Other fabricated metal products

+
+

29,380 +
(56)

w

3,195
...

3,755

+
+

482
697
312

+

494

I
+

+

696
340

o

466
...

-4-

...

+
+
+
+

5,626

5,350

5,210
+

714321

o
+

2,980

2,841

+

+

+
+
-i-

511
...
...

+
+
-U

685
429

;
+
+

...

(NA)

5,579

(NA)

! (NA)
415
...
735
361

~
-

(NA)
(NA)

+

+
472

485

350

+
+

3,H9

-I-

477
t 585

676
+
+

+

5,650

5,538

W :
860
339
...

...
.

3,158

+
+

504

439
4-

...

+
+
-i-

+
501 + (NA)
...

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

Data are seasonally adjusted by source agency.
Last three months of data for series components are not comparable with earlier data.
This Issue," page iii.
3

KCII JULY 1969



See "New Features and Changes for

91

ANALYTICAL MEASURES

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

1968
Diffusion index components
November

December

February

January

March

April

1

May

June

D6. VALUE OF MANUFACTURERS' NEW ORDERS, DURABLE GOODS INDUSTRIES1-Continued
(Millions of dollars)
3,656

3,505

Electrical machinery
Electrical transmission distr equipment*
Electrical industrial apparatus*
Household appliances
Radio and TV
Communication equipment!
Electronic components,
Other electrical machinery*
•

I

+
+
+

641
+
710 I
+
+
\tt
9io + 1,049 -

+
7,578

7,589

+
+

Motor vehicles and parts, total

+

Aircraft partsf , .
Shipbuilding and railroad equipment*
Other transportation equipment

+

+
+

+

+

+

+
+

Lumber total

3,581

Stone clay and glass total

+

3,746

3,767

627
+
697 +
+
+
+
]] ]
1,626 +
1,036 _i_
+
7,842
7,487
... +
+
+

3,928

723 +

837 *
4-

1,003 +

1,165

692 ."
H-

(NA)

96;L -

(NA)

+
+
7,107

+
7,695
+

4-

...

+

...

+

•t+

•I-

+

p6,477

r?,22tJ

+

...

+
+
... +
+
...

(NA)

3,710

+

+

+

+
+

...

+

+

+

D19. INDEX OF STOCK PRICES, 500 COMMON STOCKS 2
(1941-43 - 10)

Index of 500 stock prices
P©rccnf rising of <7^compontsnts

Coal, bituminous
Food composite
Tobacco (cigarette manufacturers)
Textile products
Paper
Publishing

, .. , .

+ 105.40 + 106.48 (77)
(73)

+
+
4-

Chemicals
Drugs
Oil composite
Building materials composite
Steel
Metal fabricating

+
+
+
+

Machinery composite
Office and business equipment
Electric household appliances
Electronics
Automobiles
Radio and television broadcasters

+
+
+
+

Telephone companies
Electric companies
Natural gas distributors
Retail stores composite
Life insurance.

+
_i_
+
_i_

0

+

102.04 (12)

101.46 (43)

99.30 + 101.26 4(13)
(54)

-

(75)

99. H
(1)

+
f
+
•t
-t-

+

... +
-

0

...

+

+

...

+

•i-

+
+
+
+

-

+
+

+
+
+

-

+

+

... -

-

+

...

+
+

...
...

+
+

...

'

+

+

*l-

+
+

•*'

+

...

...

-

...

•i-

+
+

+

+

+

...

!r

*. .

•+'
+

+

+

+

+
•H
+

+
+
+

***

-

...

+
+

-

+

0

...

-

+

104.62

+
+

...

+
-

4'

-

NOTE: To facilitate interpretation, the month-to-month directions of change are shown along with the numbers: (+) = rising, fo) = unchanged, and (-) ~ falling. Only
the directions of change are shown when numbers are held confidential by the source agency. NA - not available, p = preliminary, r - revised. * Denotes machinery
and equipment industries that comprise series 24. t These industries plus ordnance comprise series 647.
1
Data
2

are seasonally adjusted by the source agency.
Data are not seasonally adjusted. The eoirqponents shown here include 18 of the more important industries artfl 5 eampositeo
representing an additional 23 of the industries used In computing the diffusion index in table E3.

92




JULY 1969

ItCII

ANALYTICAL MEASURES

E4 Selected Diffusion Index Components: Basic Data and Direction of Change-Con.
1968

1969

Diffusion index components
December

November

January

February

May

April

March

July 3 -

June

D23. INDEX OF INDUSTRIAL MATERIALS PRICES 2
Industrial materials price
index (1957-59-100)

+

100.3

+

100.7

+

103.4

+

106.3

+

106.9

+

110.4 +

111.6

109.3

+

(65)

(58)
(77)
.561
+
.545 +
+
.073 +
.074
+ 30.644 + 31.283
1.565 + 1.594
+
.150 +
.151
.136 +
.140
.250 o
.250
.221
+
.224
+
1.584 + 1.597
.190 .179
+ 11.964 o 11.964
.260
.255 +
.064
o
.059 +

+

111.9

(Dollars)
Percent rising of 13 components

Copper scrap (Ib.)
Lead scrap (Ib,)
Steel scrap (ton)
Tin(lb.)
Zinc(lb.)
Burlap (yd.)
Cotton (Ib,), 12-market average
Print cloth (yd.), average
Wool tops (Ib.).Hides (Ib,).
Rosin (100 Ib.)
Rubber (Ib.)
Tallow (Ib.)

(69)
.404
+
.055
+ 24.288
+ 1.621
.140
+
.163
.278
+
.205
+ 1.636
+
.175
- 10.916
+
.226
+
.049

+
+
+
+
+
-

(38)
.446
.054
22.505
1.648
.139
.159
.265
.208
1.626
.177
11.385
.226
.046

(54)
+
.480
+
.059
+ 24.575
- 1.632
+
.143
.156
.260
+
.210
- 1.607
.171
+ 11.838
.225
+
.048

(62)
.448
+
.066
+ 27.256
+ 1.668
+
.044
+
.163
.256
+
.212
- 1.576
.164
- 11.803
+
.247
+
.049

(46)

+
.480
o
.066
- 25.407
1.584
o
.144
.154

+
.534
+
.070
+ 25.536
1.567
+
.146
.143

.255
+
.213
1.575
.163
+ 11.891
+
.260
+
.056

.254
+
,217
1.572
+
.193
o 11.893
+
.265
+
.059

(58)
+
.567
+
.078
- 29.774
+
1,602
o
.151
+
.144
.249
.220
1.573
.175
+ 12.349
+
.274
+
.067

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

190

Percent rising of 47 components

Northeast region:
Boston (7)
Buffalo (20)
Newark (11).
New York (1)
Paterson (21)
Philadelphia (4)
Pittsburgh (9)
Providence (25)
North Central region:
Chicago (2)
Cincinnati (22)
Cleveland (10)
Columbus (26)..
Detroit (5)
Indianapolis (23).
Kansas City (19)
Milwaukee (18)
Minneapolis (13)
St. Liouis(8)
South region:
Atlanta (17)
Baltimore (12)
Dallas (15)
Houston (14)
West region:
Los Angeles (3)
Portland (24)
San Francisco (6)
Seattle (16)

o

190

+

+
+
+

+
+

+
+
+

+
+
+
•f
+

+
+

-t+
+

-. '

...
...

+
+
+
+
-I+
+
+

+
+
+
+

+

!!!

!!*.

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

+

(38)

...

+

...

t

...

+
+
+

...
...

...
...

-»+
+
+
+

+
+
+

...

+
+

(23)

+
+
+

+
+

+
+
+
+
+
+

...

+
+

...

-

...

...

+

...

+
+

201

(57)

+

+

+

...

+

...

...

+

...
...

+

+

+

...
...
...

180

176
(49)

...
...

+
+

+

+
+

+

+

...
t

184
(55)

+
+

+

-

...

186

179
(72)

+
+
+
+

+

"

+

(62)

(32)

+
+
+

+

+

+
+

...

...

+

+
+

...

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

Average for July 1, 8, and 15.
Series components are seasonally adjusted by the Bureau of the Census.
The industrial materials price index is not seasonally adjusted.
3
The signs are reversed because this series usually rises when general business activity falls and falls when business rises:
(-) = rising, (o) - unchanged, and (+) = falling.
Series components are seasonally adjusted by the Bureau of the Census before
the direction of change is determined.
Data used are for the week including the 12th of the month.
Directions of change are
shown separately for only the 26 largest labor market areas. The number following the area designation indicates its size rank.
2

KCII JULY

1969




93

ANALYTICAL MEASURES

E4 Selected Diffusion Index Components: Basic Data and Direction of Change-Con.
1968

1969

Diffusion index components
November

December

April r

Marchr

February

January

May

June^

D41. NUMBER OF EMPLOYEES ON NONAGRICULTURAL PAYROLLS 1
(Thousands of employees)
All nonagricultural payrolls, ...........
Percent ris ing of 30 components

Ordnance and accessories
Lumber and wood products
Furniture and fixtures
Stone, clay, and glass products
Primary metal industries
Fabricated metal products
Machinery
Electrical equipment

+ r68,664 4 r68,875 + r69,l99 + r69,487 +
(70)
(90)
(fiO)
(73)
4
+
+
4
+
+
+
+
+
+

Instruments and related products
Miscellaneous manufacturing industries
Food and kindred products
Tobacco manufactures
Textile mill products
Apparel and related products .
Paper and allied products.
Printing and publishing ,
Chemicals and allied products
Petroleum and related products
Rubber and plastic products
Leather and leather products
Mining
Contract construction
Transportation and public utilities
Wholesale trade
Retai 1 trade
*
Finance, insurance, real estate
Servi-ce and miscellaneous
Federal government
,
State and local government

o
o
4
+
+
+
o
o

r!95

r520
400
rS24
rl,031
rl,095
r 1,354
rl,324
rl,430
r2$7
r345
rl,194
r?0
rS83
rl,245
r546
r670
r6l6
119
r439
r307

69,710

4

(70)

r!96
r!95 +
o
r!95 +
197
528
r528
r527 4
+
r524 4
410 4
+
r402 +
407 4 r410 o
4
r530 4
r537
535
r534 +
rl,051 4- rl,058 + 1,063 + rl,Q44 4
1,121
4 rl,100 + rl,109 4 1,115 +
- rl,346 4 rl,359 + 1,370 - 1,363 4
+ rl,330 +
ri.,344 + rl,355 + 1,364 4
- 1,427 + 1,439 - 1,426 4 1,432 292 o
r288 +
r289 4
o
r287 4
r346 +
349
+ r351 o r351

+
o
4
4
+
o
+

rl,202
r69
r883
rl,243
r549
671
r6l7
119

4
+
4
+
+
+
o

+
r305 +

r441

rl,205
r?l
r885
rl,254
r550
673
r6l?
73
r444
306

+ 1,215
r69
r883
rl,238
+
r555
672
+
r620
+
101
4
r448
302

o
+
o
4
o
+
4

r628
r626 +
+
r622 +
r623 +
+ r3,3!3 + r3,330 4 r3,338 + r3,366 +
4
r4,352 + r4,360 r4,353 +
r4,373 4
+ r3,669 + r3,6?8 + r3,701 + r3,714 4
- rlO,622 + no, 593 4 rlO,711 + rlO,754 4
r3,463 + r3,490 4 r3,502 +
4 r3,453 +
+ rlO,787 + rlO,838 + r 10, 900 + rlO,967 4
2,760 4 r2,?67 o
r2,709 + r2,724 +
o
r9,240 4 r9,308 4 r9,321 + r9,355 4

69,7^9 4 r 70, 021, 4
(62^
(42)
193
525 +

r!92

413

r412

4

r§29

529
1,057 +
i,iia 4
1,370 1,369 f
1,420 4
292 4
348

r526
r 1,062
rl,121
r 1,369
r 1,383
rl,426
r293
r346

- 1,205 +
60 +

rl,206
r69
r872
rl,255
r552
r669
r6l5

^
-4
+
o

1,208
69
880
1,246
555
673
620
116
449
301

4 1,252
549
672
617
4
118
o
449
300

4
4.

626
3,374
4,399
3,726
10,782
3,515
11,034
2,759
9,373

624
3,363
4
4,439
4
3,737
4
10,796
4 3,531
+ 11,044
o
2,75B
4
9,386

r622
4r3,397 4
o
r4,4U o
•H ^3,757 4
4 r!0,051 4
4 r3,538 4
+ rll,077 +
r2,754 4
4r9,447 4

4

4

a?5

o
4
o

70,216
(77)

194
525
413
527
1,071
1,127
1,374
1,387
1,431
295
346

- 1,204
68
870
+ 1,256
4
554
4
671
+
619
rl!8 4
119
454
r451 4
r300
29B
621
3,449
4,440
3,765
10,869
3,544
11,085
2,767
9,495

D47. INDEX OF INDUSTRIAL PRODUCTION1
(1957-59-100)
All industrial production

+ 167.5 4 168,7 + 169.1 4

Percent rising of 24 components ^

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

(75)

(65)

(54)

170.1 4 171.4
(62)

(92)

171.7

(54)

U3^6 4
147^ 4
146! 2 4
135 !i +
+
129^3 4
139^5 +
4 173.5 + 175.6 + 176.4 + 177.6 4 178.5 - 178.3 •f

....

rl?2.7 + 173.9
(69)

"Wi.0:
r,178.7 4

19o! 2 4
190*8 4 193.2 •*•
189^6 4
+ 184.4 4
185*3 + 188.3 +
r201.9
200.7
199.5 +
+ 191.4 4 193.0 + 196.4 + 196.9 4
171. a
171.2 + 173.1 4 174.1
180.2
172.4
176.4
r!98.6
190.4 4 192.8 4 195.4 -t+ 188.5 + 189.7 + 191.6

4
15l'.2 +
156! 2 +
156*.5
126.1 + 132.3 - 122.5 4 126.7 4
15CU

+

186." 8
4 181.7 +
182!9 4
+ 162.5 + 165.3 + 166.2

153*4 4 154.2 4
130.8
122.6 4

186.5 +
187*. 6 4
188 '.9 +
164.7 4 165.7 4 167.6

r!56!4
P3124.3

190 '.2
167.5 -t

NOTE; To facilitate interpretation, the month-to-month directions of change are shown along with the numbers: ( + ) ™ rising, (o) - unchanged, and ('-)
the directions of change are shown when numbers are held confidential by the source agency. NA ~ not available, p ~ preliminary, r - revised.
1
Data arc seasonally adjusted "by the source agency.
^Whorc actual data for separate Industries are not available, estimates are used to compute tho percent rising.
of change for the most recent spans are computed before figures for the current month are rounded.

94




(71)

152
181

196
202
174
196
142
155
(NA)
189
169

falling. Only

DinHitlon^

JULY 19S9

ANALYTICAL MEASURES

E4 Selected Diffusion Index Components: Basic Data and Direction of Change-Con.
1968

1969

Diffusion index components
November

December

February

January

March

May

April

June

D47. INDEX OF INDUSTRIAL PRODUCTION1-Continued
(1957-59-100)
Nondurable goods:
Textiles apparel and leather
Textile mill products
Appiaret products
Leather and products
Paper and printing
Paper and products ,
Printing and publishing

•f 147.3

+ 155.1 - 153.5 - 152.9 - 152.0 + r!52.9 + rl54.l + P155.2
(NA)
+ 152.5 - 149.2 - 148.1 - 147.9 + rl50.2 + P151.3
- 111.7 - 109.2 - 105.0 - 101.3 + 105.6 - pl03.4
(NA)

o

p!47
(NA)
(NA)
fNA)

+ 152.3

169 '.9
o 152.3

+ 171! i +
+ 152.4 -

+
173 i 9 + r!75io + r!75is o pl75.8
152.1 + rl53.0 - r!52.7 + r!55.9 +

pl66
(NA)
pl58

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

+
228.7
- 141.4
+
227.5

+ 231^8
- 141.2
+ 234.6

23li3 +
- 131.0 +
230.8 +

+ r221.5 - r 221.1 +
234^4 +- r235*.2 + r238.1 - P237.4
140.2 + 142.7 - r!42.2 + p!42.8
(NA)
232.8 + r236.2
(NA)

p222
(NA)
(NA)
(NA)

Foods, beverages, and tobacco
Foods and beverages
Tolbacco products

- 136 !i
- 119.9

+ 138 is + 139.'4 +
141.' 5
140! 9 +
- 113.6 + 119.5 + 121.2 - 118.7

- r!4oi4
- pllO.5

- r!37.4 +
- P139.6
(NA)

P138
(NA)
(WA)

+ 115.9
+ 126.3

+ 118.3
- 125.4

•*• 120.2
+ r!26.9

+ 123.9
+ 129.7

+ r!49ii - r!44i9
+ 150.5 - 141.4

- Pl3?i6
- p!41.2

(NA)
P134
p!40
(NA)
(NA)

....

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

+

176! i -

- 115.3
- 123.9

- 112.4
- 121.8

+ 135ll + 137^6 + 340 i 2 + 142.7
+ 135.5 + 147.0 - 143.5 + 149.2

+ rl!4.3
+ r!23.5

+

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

+ 110.3

+ 110.5

(80)

Durable goods:
Lumber and wood products
Furniture and other household durables
Nontfietaltic mineral products
Iron and steel

+
+
+
-

126.8
104.7
109.2
106.0

Nonferrous metals
Fabricated structural metal products
Miscellaneous metal products
General purpose machinery and equipment

+ 122.4
o 108.8
+ 117.7
+ 118.3

Miscellaneous machinery
Electrical machinery and equipment
Motor vehicles and equipment
Miscellaneous products

+ 115.2
+ 103.6
+ 106.6
+ 112.5

Nondurable goods:
Processed foods and feeds
.
+ 114.7
Cotton products
+ 105.4
Wool products
- 104.6
Manmade fiber textile products
+ 93.0
Apparel
-f 111.8
Pulp, paper, and allied products
o 105.2
Chemicals and allied products ... .......... o 97.8
Petroleum products refined
- 99.2
Rubber and rubber products
-t 101.1
Hidt^s skins leather and related products
+ 122.4

(61)

+

111.3
(68)

+ 137.8
+ 105.3
+ 110.6
+ 107.5
+ 123.5 + 127.2
+ 109.0 + 109.3
+ 118.3 + 119.6
o 118.3 + 118.5
+ 115.6 + 115.7
- 103.5 o 103.5
o 106.6 - 106.5
o 112.5 o 112.5
+
+
+
+

133.5
105.0
109.3
106.1

114.7
105.1
104.6
92.9
111.9

+ 116.0
- 104.8
+ 104.7
92.8
+ 112.7

o 105.2
97.7
99.0
o 101.1
+ 122.8

+ 106.2
- 97.6
98.9
- 100.0
+ 123.5

o
o
+

+

111.7

+ 112.2

+ 112.4

+ 144.5
+ 105.4
+ 111.2
+ 108.0

+ 149.5 - 143.3
+ 105.7 + 105.8
+ 111.9 + 112.3
+ 108.8 + 108.9

+
+
+
+
+
o
o

+
+
o
+

129.9
109.6
120.4
119.8

+ 132.4
+ 110.2
o 120.4
+

120.0

+
+
o

116.5
104.2
106.3
112.5

+
+
+
+

116.6
104.3
106.4
112.7

128.9
109.4
120.4
119.1
116.1
103.5
106.4
112.5

+ 116.3
o 104.8
- 104.4
92.3
o 112.7
+ 106.8
+ 97.8
+ 99.5
+ 100.5
- 123.4

+ 116.4
- 104.6
- 104.2
92.1
+ 112.8

+ 117.3
- 104.5
+ 104.3
+ 92.4
+ 113.0

+
+
4+o

+ 108.0
97.9
+ 102.5
+ 101.2
+ 126.0

107.4
98.0
101.7
100.9
123.4

+ 112.8

+

(80)

(84)

(75)

(73)

113.2
(84)

138.0
105.9
112.6
109.9

129.8
o 105.9
+ 112.8
+ 110.3

+ 134.2
+ 110.8
+ 120.5
+ 120.3
+ 117.6
+ 104.5
+ 106.5
+ 112.8

+ 135.5
+
111.0
+ 120.7
+ 121.2

+
+
o
+
+
+
+

+

+
+
+

119.4
104.6
104.3
92.6
112.9
108.1
98.1
102.4
101.1
126.1

+• 117.8
+ 104.7
4- 106.6
+ 115.1

121.4
104.5
+ 105.0
+ 92.7
+ 113.3

+ 108.3
+ 98.3
+ 103.3
+ 101.2
- 125.7
NOTE: To facilitate interpretation, the month-to-month directions of change are shown along with the numbers: (+) = rising, (o) = unchanged, and (-) = falling. Only
the directions of change are shown when numbers are held confidential by the source agency, NA = not available, p = preliminary, r = revised,
1

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

2

JULY 1969




95

ANALYTICAL MEASURES

E4 Selected Diffusion Index Components: Basic Data and Direction of Change-Con.
1968

1969

Diffusion index components
November

January

December

February

March

Aprilr

28,916 +

29,442 ~ r29,l64 -

May

JuneP

D54. SALES OF RETAIL STORES 1
(Millions of dollars)
All retail sales

+

28,806 (54)

Grocery stores
+
Eating and drinking places
Department stores
+
Mail-order houses (department store merchandise) . .

5,817 2,128 2,925 293

28,347 +
(22)

28,989 +

(61)

(74)

5,744 +
2,062 t2,877 275

5,909
2,094
2,861
273

29,289 -

+
+
+
f

5,955 2,123
2,924 298

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

+
+
+

522
38?
642
272

505 +
371 -t
589 4263

535
406 +
622 +
249 <r

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

+

853
428 +
911 +
280

852 +
429 +
937 +
267

876 +
446
958 +
261 +

920 +•
431
1,049
281

5,157 417 +
2,097 979
634

5,172 435
2,091 +•
959 +
603

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

+
+

... +

5,124 397
2,064 944 +
601

5,082
363
2,052
969
565

+
t
•t1+

534
416
645
261

(22)

(74)

5,883 2, 107 +
2,895 -t296
517
393
615
245

+
+
+
t-

922
400 +
992
269 +

5,099
419
2,132
960
601

f
+
+
+

(28)

5,839 - p5,8Q5
2,133 + pa, 171 3,080 - p2,96S
294
P2£l +

28,935
(28)
(NA)
(NA)
(NA)
(NA)

558
414
649
266

P544 P395
p631 -Ip265 o

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

903
436 +
974
287

p896
p460 ; ^
P949 p282 +

(NA)
(NA)
(MA)
(NA)

5,H5 - P5,106
P398 i
427
2,106 - p2,102
963 +
P983
P596 619

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

NOTE; To facilitate interpretation, the month-to-month directions of change are shown along with the numbers: (+) = rising, (o) = unchanged, and (-) ra falling. Only
the directions of change are shown when numbers are held confidential by the source agency. NA = not available, p - preliminary, r = revised.
arc seasonally adjusted by the source agency.
2
The diffusion index includes estimates for six types of stores not shown separately. In March 1969 a new seasonal adjustment of the retail trade data was completed and the basic data and directions of change in this table reflect that seasonal
adjustment. However, through November 1968 the diffusion indexes are based on data from the previous seasonal adjustment.

96




JULY 1969

ItCII

INTERNATIONAL COMPARISONS

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

Year
and
month

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

138. Japan, index
of consumer
prices©

137, Italy, index
of consumer
prices©

(1957-59=100)

(1957-59-100)

(1957-59=100)

(1957-59=100)

(1957-59-100)

(1957-59=100)

1967
January.
February
March

115
115
115

117
117
118

129
129
129

123
123
123

141
141

142

153
154
154

137
138
138

April .
May
June

115
116
116

119
119
120

130
130
130

124
124
124

142
142
142

154
153
152

138
138
139

July...
August.,
September

116
117
117

121
121
121

130
130
129

124
123
123

142
143
143

152
153
156

139
139
140

October ...
November
December
1968
January . .
February
March.,

118
118
118

121
121
122

131

129

131

123
123
123

144
145
145

159
159
160

140
140
140

119
119
120

123
123
123

132
133
133

125
125
125

147
147
147

161
161
162

140
140

April
May .
June

120
120
121

124
124
124

136
136
136

125
125
126

147
148
148

162
163
161

141
141
141

July
August
September

122
122
122

125
125
126

136
137
137

126
125
125

149
149
150

162
162
168

140
140
141

October
November
December
1969
January
February
March

123
123
124

126
127
127

137
138
140

126
126
127

152
152
153

166
167
166

341
141
141

124
125
126

127
227

128

140
141
142

128
128
129

155
155
156

167
167
169

142
142
143

April
May .
June

126
12?
128

129
130
131

143
(NA)

129
129
129

156
157
(NA)

171
171
171

143
(WA)

(1957-59=100)

140

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

IIUI JULY

1969




97

INTERNATIONAL COMPARISONS

QJ INDUSTRIAL PRODUCTION
47. United
States, index of
industrial production

123. Canada,
index of industrial production

122. United
Kingdom, index
of industrial
production

126. France,
index of industrial production

125, West Germany, index of
industrial production

128. Japan, index of industrial
production

121.0ECD, 1
European countries, index of
industrial production

127, Italy, index
of industrial production

(1957-59=100)

(1957-59=100)

(1957-59-100)

(1957-59=100)

(1957-59=100)

(1957-59=100)

(1957-59-100)

(1957-59=100)

1967
January . .
February
March

158
157
157

166
166
166

129
129
129

156
154
156

150
149
150

304

153
153
154

207
211
209

April
May
June

157
156
156

168
167
168

130
128
129

153
152
156

149
150
148

305
312
317

154
153
154

212
212
211

July
August
September

156
158
157

169
170
170

129
129
128

156
156
159

154
152
155

321

327

336

155
154
156

211
198
211

157
160

156
158
171

338
346
349

157
159
164

215
217
216

Year
and
month

293
295

October
November
December .
1968
January
February ,
March

162

169
173
174

129
131
134

159
160
161

161
162
163

172
172
173

133
134
135

162
164
167

157
159
165

347
354
351

160
161
164

218
220
222

April
May
June

162
164
166

175
176
179

133
135
136

167
116
133

164
167
180

362
372
373

164
154
163

222
224
221

July
August
September

166
165
165

178
178
180

137
138
136

171
171
170

166
182
177

382
381
389

16?
171
171

223
217
234

October ,
November
December
1969
January
February
March.

166
168
169

182
184
185

137
139
340

r!79
180
r!82

r!76

r!85
r!8?

397
407
400

173
rl?6
173

235
226
333

169
170
171

r!85
r!87
r!91

r!39
r!40
r!39

181
180
180

r!86
r!89
r!90

402
r410
r405

r!79
r!79
ISO

r23B
232
r239

P187
(NA)

p!39
(NA)

p!85
(NA)

r!89
(NA)

r428
P428
(NA)

piaaS

April
May
June

172
173
P174

(NA

p241
(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 © . Series numbers are for
identification only and do not reflect series relationships or order. Complete titles and sources are shown at the back of the book. The V indicates revised; "()", preliminary;
"e", estimated; "a", anticipated; and "NA", not available.
^Qrfianiaation for Economic Cooperation and Development.

98




JULY 1969

ltd!

INTERNATIONAL COMPARISONS

Q STOCK PRICES
19. United States,
143 Canada, index
index of stock
of stock prices©
prices, 500 common
stocks ©

Year
and
month

(1957-59=100)

142. United Kin^
dom, index of
stock prices©

146. France, index
of stock prices©

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

(1957-59=100)

147. Italy, index
of stock prices®

(1957-59=100)

(1957-59-100)

(1957-59=100)

175
180

99
103
98

148
156
159

223
229
228

142
141
127

(1957-59=100)

(1957-59=100)

1967
January ,
February
March.. ,

171
177
181

182

157
156
159

April
May
June

184
188
185

185
186
186

167
171
172

96
99
98

158
155
154

223
231
231

129
132
130

July
August
September

189

176

177
187

94
99

194

189
194
198

110

156
175
182

231
215
209

129
133
139

194
188
193

192
188
189

196
203
200

109
106
103

182
192
194

213
206
198

143
139
135

1968
January..
February
March

193
184
181

189
177
171

202
208
213

107
104
113

205
209
207

203
208
209

134
130
133

April
May
June

194
198
204

183
185
187

235
246
252

117
111
107

216
219
226

220
229
235

136
135
133

July
August,
September

203
199
205

194
192
198

265
272
279

103
105
105

230
231
224

243
254
276

136
138
136

October
November
December

210
214
216

203
204
210

270
273
279

104
105
109

228
224
219

275
264
266

131
127
134

1969
January
February
March

207
206
201

214
213
208

291
282
270

113
121
130

228
230
231

279
282
279

135
133
136

April
May
June

205
212
201

213
224
209

266
253
235

128
136
rp!30

233
r243
247

293
302
rp306

152
153

rp049

pl92

p200

P232

pl24

P232

P305

p!45

October. .
November
December

Juiv
August .
September
October
November
December

.192

....

....

....

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

ltd* JULY 1969



99




B. Current Adjustment Factors
1369

Series
Jan.

4, Nonagricuftural placements, all
industries1
5. Average weekly initial claims,
State unemployment insurance
13 New business incorporations

1

15. Profits (after taxes) per dollar of
sales mfg
33. Net change in mortgage debt held
by financial institutions and life
insurance companies 1 3
37. Purchased materials, percent of
companies reporting higher
inventories
39. Delinquency rate r 30 days and over,
total installment loans4
49. Nonagricisltural job openings
unfi Ned *
. . . .
72. Commercial and industrial loans
outstanding
?

112 Change in business loans
508. Index of export orders, nonelectrical machinery
616. Defense Department obligations,
tola |
621. Defense Department obligations,
625. Military Contract awards in U.S
D34. Profits, Manufacturing (FNCB) 6 . . -

87 4
151.3
118 2

Feb.

Mar.

Apr.

May

June

July

Aug.

Sept.

Oct.

102.3

92 2

100 4

102 3

111 3

105 2

110 2

118 1

114 2

94 6

82 5

114.5

92.5

93.3

78.4

79.3

122.0

84.9

70.7

80.0

97.8

135.0

108 1

105 3

102 0

101 8

101 0

91 3

92 9

101 5

84 0

100 1

93 7

103.9

-448

101.0

-111

+ 59

107.0

106.5

109.8

+93

103.4

+ 215

103.1

103.0

84.7

94.5

109.0

99.3

98.7

100.5

100.0

99.3

101.8

100.2

99.0

100.1

100.1

99.9

100.6

111.3

99.1

99.7

99.6

101.7

+107

101.3

91.9

93.6

120.1

102.0

96.2

83.4

106.0

Dec.

81 3

97.8

-272

Nov.

+ 157

102.2

+18

+126

-169

+233

95.6

88.1

91.7

97.7

99.0

98.0

98.3

106.2

111.1

115.6

106.5

94.1

101.2

99.0

100.1

99.2

99.5

101.1

100.8

100.0

99.4

99.7

99.6

100.3

94.3

99.0

92.3

93.2

100.7

79.8

103.0

91.2

80.6

95.6

97.9

94.4

151.1

94.5

102.3

112.3

100.1

85.6

94.7

77 0 2

71.0

96.0

99.0

96.9

204.9

58.2

102.6

122.3

100.5

76.3

95.9

87.1
-15

81.0

88.7

86.4
+16

96.6

185.7

101.7
-9

87.9

115.0

98.7
+8

79.4

92.2

NOTE; These series are not published by the source agency in seasonally adjusted form. Seasonal adjustments were made by the Bureau of the Census or the National
Bureau of Economic Research, Inc. They are kept current by the Bureau of the Census. Seasonally adjusted data prepared by the source agency will be substituted whenever
they are published. For a description of the method used to compute these factors, see Bureau of the Census Technical Paper No. 15.The X-ll Variant of the Census Method
M Seasonal Adjustment Program.
1
Factors are products of seasonal and trading-day factors.
Seasonally adjusted data resulting from the application of these
combined factors may differ slightly from those obtained by separate applications of seasonal and trading-day factors due to
rounding.
2
Quarterly series; figures are placed in middle month of quarter.
3
Thes.e quantities, in millions of dollars, are to be subtracted from the month-to-month net change in the unadjusted monthly
totals to yield the seasonally adjusted net change. They were computed by the additive version of the X-ll variant of the Census
Method II seasonal adjustment program.
4
Bimonthly series. Factors are for even-numbered months (February, April, June, etc.).
5
Factors apply to monthly totals before month-to-month changes are computed.
6
l-quart;er diffusion index:
Figures are placed in the 1st month of the quarter. The unadjusted diffusion index is computed
and the factors, computed by the additive version of the X-ll variant of the Census Method II seasonal adjustment program, are
subtracted to yield the seasonally adjusted index.




101

C. Historical Data for Selected Series
This appendix contains historical data for BCD series extending back to 1945 or to the earliest date thereafter for which data are available. Data are published in this appendix for (a) new series which have been
added to the report, (b) series which have been revised recently, and (c) series which have not been shown historically for a long period of time. See the "Index-Series Filing Guide" far the latest issue in wh ch
historical data for each series were published. Current data are shown in the basic tables of the report. Data are seasonally adjusted unless the symbol <§) {indicating unadjusted data) follows the series title. OTicial source agency quarterly and/or annual totals are presented in this table wherever possitfle. These figures are often calculated from data with moi
more digits or from data which have not been seasonally adjust d;
therefore, they may differ slightly from totals and averages computed from-data shown in the report.
Quarterly

Quarterly

Year

1
16.

II

III

IV

CORPORATE PROFITS AFTER TAXES
( A N N . RATE, B I L . OOL.)

Annual

AVERAGE

Year

1

11

ill

Annual

IV

22.
RATIO OF PROFITS (AFTER TAXES) TO INCOME
O R I G I N A T I N G , CORPORATEt ALL INDUSTRIES ( P E R C E N T )

AVERAGE

1945...
1946*..
1947...

lol4
20*7

. **
13.6
19*6

• ••
17*8
19.4

20.1
21*1

20.2

1945***
1946***
1947***

• •*
12.9
20*0

*• *
15.4
17.9

***
19*0
17.3

***
20*1
16*0

**.
16*6
18*3

1948**.
1949...
1950..*

22.2
20*1
18.9

23*4
17.7
22.6

23*0
18.4
27.6

22.2
18*1
30*3

22.7
18.5
24*9

1948.**
1949..*
1950...

18*0
15.7
15*0

18.5
14.3
16*9

17*9
14*9
19*0

16.9
19*2
19*8

17,8
15.0
17*7

1951...
1952...
1953...

25.2
20.0
21*7

21.3
18*8
21.8

19.3
18*6
21.3

20.7
20.7
16*6

21.6
19*6
20.4

1951.*.
1952*.*
1953...

15*9
11.9
11.9

13*1
11.4
11*8

11*7
11*2
11.7

12*3
11.7
9*5

13.2
11*5
11*2

1954**.
1955...
1956.*.

19*1
26*1
27.2

19*7
26*5
27*7

20.9
27.4
26.0

22.5
28.3
27.4

20.6
27.0
27.2

1954.*.
1955**.
1956...

10.8
13.6
12.9

11.2
13*4
13*0

11.7
13*6
12.1

12*1
13*7
12*5

11.4
13.6
12*6

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

27.6
19.8
28.0

26.5
20.2
30.8

26.0
22.8
27.9

23.7
26.2
27.0

26.0
22.3
28*5

1957...
1958...
1959.**

12.3
9*3
11.8

11*7
9.5
12.6

11.5
10*4
11.5

10*8
11*5
11*0

11.6
10*2
11.7

1963...
1961...
1962.**

28.9
24*4
30*7

27.8
26.4
30.9

25.5
27.8
31*5

24*5
30.1
31.8

26.7
27.2
31.2

I960*..
1961...
1962...

11.4
9.7
11*3

10.9
10*3
11.1

10.2
10*6
11*2

9.9
11*2
11.1

10.6
10.4
11.2

1963...
1964...
1965...

31.1
37.7
44,5

32.8
38.2
45.7

33.5
39.1
46.3

34.9
38.8
49.3

33*1
38.4
46.5

1963.*.
1964**.
1965***

10*8
12*2
13.3

11.3
12.1
13.4

11*3
12.1
13.3

11.7
11.9
13*9

11*3
12*1
13.5

1966...
1967...

49.8
46.1

50.0
46*4

50.7
47.0

49.3
49.9

49.9
47.3

1966**.
1967.*.

13.6
11.9

13.3
11.9

13.3
11.7

12*6
12.1

13.2
11.9

57.

**.

F I N A L SALES ( A N N . RATEI B I L . D O L . )

•..

isis

AVERAGE

68.
LABOR COST (CURRENT DOLLARS) PER UNIT OF
GROSS PRODUCT (1958 DOLLARS) t NONFINANCIAL

1945...
1946..*
1947...

• **
190.6
223.1

195.2
228.6

* **
208.1
234.6

...
214*5
240.7

* **
202.1
231.8

1945. *.
1946**.
1947.*.

. *.
* **
• *.

1948**.
1949...
1950..*

244.8
258.5
263.6

250*4
260.5
270.6

256*4
258.8
288.2

259*6
260*2
289.4

252.9
259.6
278.0

1948**.
1949. **
1950. **

0.901
0*514
0*507

1951...
1952..*
1953...

307.5
334.3
361.7

310*6
341.5
364.4

322.5
341.4
365.1

331.8
352.3
365.3

318.1
342*4
364*1

1951.*.
1952***
1953...

1954.*.
1955...
1956...

363.2
381*6
404.5

363.1
388*3
411*9

366*9
396.4
416.5

372.2
401.7
425.1

366*4
392.0
414.5

1957..*
1958...
1959.*.

434.8
440*1
470.1

437*5
443*4
477.8

443.1
451.3
483*6

443.8
460.3
484.1

i960...
1961...
1962**.

493.0
507.0
541.1

500.7
512*8
551.1

501.0
S20.4
559.2

1963...
1964...
1965...

572.7
612.9
651.9

579.4
621*9
666.8

1966..*
1967...

718.2
765.2

727*1
780*2




. **
* **
.**

* **
• ..
...

* **
* **
* **

«.*
...

0*498
0.516
0.505

0*513
0*507
0.506

0.514
0.518
0.514

0*507
0.514
0*507

0.534
0.559
0.577

0*543
0.566
0*580

0.542
0*575
0*582

0*544
0*578
0.598

0.541
0.570
0*584

1954...
1955*.*
1956***

0.600
0.575
0.608

0»594
0*577
0,615

0.587
0*584
0.624

0*584
0*592
0.631

0.591
0*582
0.619

439.8
448.8
478.9

1957...
1958...
1959***

0.634
0.668
0*653

0*638
0*663
0.647

0*644
0.658
0*659

0*653
0*650
0.660

0*642
0*659
0.*54

505.7
532*3
565.6

500.2
518.1
554.3

I960...
1961*..
1962. **

0.661
0*681
0*665

0*669
0«672
0-668

0*674
0.667
0.664

0.676
0.662
0.662

0.670
0*670
0*665

588*8
634.1
682.1

597.7
637*4
700.3

584.6
626.6
675.3

1963...
1964...
1965***

0*667
0.659
0.661

0,665
0,662
0.661

0.661
0.665
0*660

0*662
0,670
0*659

0.664
0*664
0.660

744.0
792.6

750.8
806.6

735.1
786*2

1966...
1967..*

0*667
0.701

0.676
0.702

0.681
0*709

0.686
0.712

Note: See "Now Features and Changes for This Issue," page iii.

102

AVERAGE

CORPORATIONS (DOLLARS)

0 * .

|

0.678
0*706

(JULY 19691

C. Historical Data for Selected Series-Continued
This appendix contains historical data for BCD series extending back to 1945 or to the earliest date thereafter for which data are available. Data are published in this appendix for (a) new series which have been
lidded to the report, (b) series which have been revised recently, and (c) series which have not been shown historically for a long per od of time. See the "Index-Series Finding Guide" for the latest issue in which
historical data for each series were published. Current data are shown in the basic tables of the report. Data are seasonally adjusted unless the symbol <g) (indicating unadjusted data) follows the series title. Official source agency quarterly and/or annual totals are presented in this table wherever possible. These figures are often calculated from data with more digits or from data which have not been seasonally adjusted;
therefore, they may differ slightly from totals and averages computed from data shown in the report.
Quarterly

Monthly
Year

Feb.

Jan,

Mar.

May

Apr.

52.

June

July

Aug.

Sept

Oct

Nov.

Dec.

IQ

II Q

PERSONAL INCOME (ANN. RATEi BIL. DOL. )

IIIQ

IV Q

Annual

AVERAGE

1945..
1946..
1947..

173.4
170.3
188.1

173.7
169.6
187.9

173.7
172.6
187.7

172.1
174.5
184.9

173.1
175.9
185.3

175.2
178.1
188.2

175.1
182.4
188.4

170.8
183.7
189.1

163.3
180.3
204.0

166.7
184.7
196.1

169.4
185.2
196.9

166.1
187.4
199.3

173.6
170.8
187.9

173.5
176.2
186.1

169.7
182.1
193.8

168.1
185.8
197.4

171.1
178.7
191.3

1948..
1949..
1950.,

2021.5
2061.9
216.9

202.0
208.0
219.8

205.5
209.1
224.9

206.5
208.1
220.2

207.8
207.6
220.7

212.0
205.6
221.8

212.8
204.0
226.1

215.2
205.5
230.5

215.4
208.7
232.7

216.3
205.0
235.8

215.0
207.5
237.9

212.3
208.7
243.3

203.3
208.7
220.5

208.8
207. 1
220.9

214.5
206.1
229.8

214.5
207.1
239.0

210.2
207.2
227.6

1951..
1952..
1953..

244.5
261.9
282.8

247.2
265.7
284.7

2^*9.8
266.4
287.5

252.7
265.8
287.8

254.1
268.8
289.1

255.9
270.4
290.3

255.5
269.4
289.8

258.4
276.9
289.2

258*9
279.7
289.1

261.9
260.8
290.9

262.9
280.1
289*1

263.9
282.1
288.1

247.2
264.7
285.0

254.2
268.3
289.1

257.6
275.3
289.4

262.9
281.0
289.4

255.6
272.5
288.2

1954..
1955..
1956..

28T.7
298.2
323.0

288.7
300.0
325.0

287.7
302.4
326.2

286.6
305.5
329.3

287.5
3C8.1
329.8

287.7
309.2
331.9

288.2
313.9
331.0

289.8
314.3
335.6

291.6
316.5
337.9

293.3
317.9
341.4

296.1
320.4
341.4

296.9
322.5
343.3

288.0
300.2
324.7

267.3
307.6
330.3

269.9
314.9
334.8

295.4
320.3
342.0

290.1
310.9
333.0

1957..
1958..
1959..

343.2
3531.8
3731.5

346.4
353.5
37 5. 8

347.8
355.3
378.6

348.2
354.6
381.8

349.8
355.8
384.0

352.4
357.6
385.6

353.9
364.0
386.0

355.5
363.8
383.4

354.5
365.7
383.9

354.4
366.4
385.0

354.8
370.8
389.0

353.7
372.6
395.3

345.8
354.2
376.0

350.1
356.0
383.8

354.6
364.5
384.4

354*3
369*9
389.8

351.1
361.2
383.5

I960..
1961..
1962..

396.4
404.8
430'. 7

396.5
405.5
433.7

396.9
409.5
437.2

400.2
409.6
439.8

4C1.7
412.2
440.8

401.9
415.8
441.8

402.8
419.6
443.4

403.3
418.8
444.6

403.8
419.8
447.0

404.8
424.3
447.9

403.8
428.6
450.4

401.3
431.1
452.6

396.6
406.6
433.9

401.3
412.5
440.8

403.3
419.4
445.0

403.3
428.0
450.3

401.0
416.8
442.6

1963..
1964..
1965..

45T.6
482.4
518.8

455.7
484.6
519.4

457.6
486.8
522.9

458.4
490.1
525.9

461.2
493.0
531.1

464.2
495.0
535.5

465.6
498.4
539.0

467.8
502.6
541.9

470.0
505.3
557.2

473.4
506.0
553.5

474.9
509.8
558.3

479.1
515.6
563.3

457.0
484.6
520.4

461.3
492.7
530.8

467.8
502.1
546.0

475.8
510.5
558.4

465.5
497.5
538.9

1966..
1967..

563. 3
612.8

570.8
614.9

574.9
617.9

577.8
619.3

579.6
621.2

584.7
626.1

588.4
630.4

593.1
635.2

597.0
637.8

601.6
639.0

602.6
645.6

607.8
653.0

570.3
615.2

580.7
622.2

592*6
634.5

604.0
645.9

587.2
629.4

53.

WAGE AND SALARY INCOME IN MINING, MANUFACTURING, AND CONSTRUCTION
(ANN. RATE, BIL. DOL.)

AVERAGE

1945..
1946..
1947..

49.1
36.9
49.2

49.0
36.2
49.5

49.0
40.2
50.0

48.1
41.3
50.1

47.1
42.0
50.7

46.5
43.8
51.1

45.1
44.2
50.9

41.7
46.0
51.5

36.7
46.9
52.6

36.4
47.3
53.3

36.8
47.8
54.0

37.1
48.7
55.2

49.0
37.8
49.6

47.2
42.4
50.6

41.2
45.7
51.7

36.8
47.9
54.2

43.6
43.4
51.5

1948..
1949..
1950..

56.4

5^.9

56.2
57.7
54.6

56.9
56.4
56.7

55.9
55.6
58.2

57.1
55.2
59.8

57.9
54.2
60.9

58.8
54.3
62.7

59.7
53.8
64.7

59.4
54.7
65.0

59.4
52.4
67.3

59.6
53.0
68.3

56.9
54.0
69.2

56.5
57.4
55.4

57.0
55.0
59.6

59.3
54.3
64.1

59.3
53.1
66.3

58.0
55.0
61.9

1951..
1952..
1953..

69.9
74.3
83.8

71.0
76.9
86.7

72.2
77.4
87.6

73.5
76.5
87.8

73.4
77.2
88.0

73.9
76.4
87.6

73.9
73.8
86.1

73.7
79.3
87.6

74.0
82.3
86.2

73.7
83.2
86.5

74.5
84.4
85*2

75.6
85.7
84.4

71.0
76.9
86.7

73.6
76.7
87.6

73.9
78.5
87.3

74.7
84.4
85.4

73.3
79.1
86.8

1954..
1955..
1956..

83.3
85. 7
94.8

83.5
86.6
95.0

83.1
87.9
95.6

82.5
88.7
97.2

82.8
90.1
96.6

82.5
90.4
97.3

81.9
91.2
95.8

81*9
91.1
98.4

81.
91.
99.

83.0
92.9
101.0

84.8
94.3
100*8

85.2
94.5
102.3

83.3
86.7
95.1

82.6
89.7
97.0

81.8
91.4
97.9

84.3
93.9
101.4

83.0
90.4
97.9

1957..
1958..
1959..

10U5
97.6
103.2

102.4
95.5
104.1

102.3
95.3
105.7

101.9
94.0
107.2

101.4
93.9
108.4

102.1
95.0
108.9

102.0
96.0
108.3

102.3
97.5
105. 7

101.
98.
105.5

100.6
98.1
105.0

100.1
101.7
106.1

98.8
102.2
109.8

102.1
96.1
104.3

101.6
94.3
108.2

101.9
97.4
106*5

99.8
100.7
107.0

101.4
97.1
106.5

I960..
1961..
1962..

11J1.2
106.4
114.3

111.5
106.1
115.5

111.0
106.6
116.7

111.2
107.6
118.3

111.6
108.6
118.0

110.9
110.5
118.0

110.6
110.9
116.6

109.7
111.5
118.7

108.8
110.2
119.5

108.8
113.0
118.9

107.4
114.8
119.7

104.7
115.2
119.7

111.2
106.4
115.5

111.2
108.9
118.1

109.7
110.9
119.0

107.0
114.3
119.4

109. S
110.1
118.0

1963..
1964..
1965..

126. 0
125.8
136.5

119.9
128.0
138.0

120.6
128.5
138.7

120.7
129.7
138.3

122.2
130.1
140.1

123.0
130*6
141*0

123.5
131.8
141.6

123.5
133.2
142.7

124.6
134.2
143.4

125.3
132.7
145.3

125.7
134.7
146.9

126.8
136.6
148.4

120.2
127.4
137.7

122.0
130.1
139.6

123.9
133.1
142*6

125.9
134.7
146*9

123.0
131.3
141.7

1966..
1967..

149.0
162.7

151.3
161.4

152.8
161.2

154.4
161.2

155.1
160.9

157.0
161.7

157.4
163.2

158.9
165*0

159.4
165.1

160.7
165.0

161.4
168.4

161.6
170.2

151.0
161.8

155.5
161.3

158.6
164.4

161.3
167.9

156.6
163.8

Ncrte:

5 a. 2

See "New Feature 3 and Changes




for This Issue," page

iii.

103

C. Historical Data for Selected Series-Continued
This appendix contains historical data for BCD series extending back to 1945 or to the earliest date thereafter for which data are available. Data are published in this appendix for (a) new series which have een
added to the report, (b) series which have been revised recently, and (c) series which have not been shown historically for a long period of time.. Seethe "Index-Series Finding Guide" for the latest issue in wiich
historical data for each series were published. Current data are shown in the basic tables of the report. Data are seasonally adjusted unless the symbol <§) (indicating unadjusted data) fallows the series title. Official source agency quarterly and/or annual totals are presented in this table wherever possible. These figures are often calculated from data wilh more digits or from data which have not been seasonally adjured;
therefore, they may differ slightly from totals and averages computed from data shown in the report.

Quarterly

Quarterly
Year
215.

1

II

PER CAPITA GROSS NATIONAL
DOLLARS ( A N N . RATEI

IV

III

PRODUCT IN CURRENT
OOL,)

Annual

Year

AVERAGE

217.

1

II

III

1

IV

PER CAPITA GROSS NATIONAL PRODUCT IN 1956
DOLLARS (ANiM. RATEt DOL. )

Annual

AVERAGE

19*5...
1946.*.
1947...

1.390
1*556

***

• •*
,439
,576

•**
1*505
1.598

.**
1*533
1*662

• **
1,467
1,598

1945.**
1946.*.
1947...

*. .
•**
2,132

.* .
*. *
2,140

• **
•. .
2,135

1946*..
1949...
1950...

1,695
It736
It757

,740
,707
,812

1,779
1,713
1,921

1*780
1*691
1,989

1*748
1,712
1,870

1946**.
1949..*
1950...

2*167
2,180
2*243

2*198
2,158
2,293

2,206
2*172
2*378

2,217
2,144
2*417

2,197
2.163
2,333

1951***
1952.*.
1953**.

2,066
2*169
2*288

2,108
2.157
2,299

2*144
2*189
2,279

2*163
2,258
2,239

2,120
2,193
2,276

1951.**
1952.*.
1953...

2,435
2,500
2,589

2,468
2*478
2,605

2*504
2*495
2*577

2,496
2,559
2»53T

2,476
2*508
2*577

1954...
1955.*.
1956***

2*227
2*343
2,447

2,216
2*382
2,470

2,232
2,420
2,485

2,277
2*449
2*528

2,238
2,398
2,482

1954..*
1955...
1956...

2*488
2*596
2*644

2,472
2,630
2*644

2*492
2,658
2*626

2*535
2*675
2*650

2,497
2,640
2*641

1957**.
1958**.
1959**.

2*558
2*501
2*682

2*564
2*511
2,744

2,590
2*576
2,716

2,553
2,641
2,741

2,566
2,557
2,721

1957...
1958*.*
1959***

2*654
2,517
2*652

2,641
2,518
12,704

2*641
2,572
2,666

2*592
2*625
2*685

2,632
2,558
2,677

I960***
1961...
1962...

2,799
2,757
2,951

2,799
2,808
2,991

2,784
2*846
3*017

2,766
2,907
3,045

2,787
2*829
3*001

1960...
1961***
1962***

2*728
2,642
2.798

2*716
2,688
2,832

2*691
2,724
2*852

2,659
2,767
2*666

2,698
2,705
2*837

1963*.*
1964.**
1965...

3,064
3*231
3*421

3,090
3,2T5
3*478

3,133
3,319
3,545

3,179
3,339
3*630

3*116
3*291
3,518

1963*..
1964...
1965...

2*872
2,988
3,105

2*888
•1,017
3,142

2*922
3*043
3*194

2*950
3,046
3*255

2,908
3*023
3*174

1966...
1967*.*

3*720
%903

3,780
3.940

3,833
4,014

3,895
4,080

3,807
3.984

1966...
1967...

3.310
3*360

3,331
3U372

3,347
3,400

3,377
3.418

3*341
1,387

220.

NATIONAL INCOME IN CURRENT DOLLARS
(ANN. RATE, BIL. DOL.)

AVERAGE

222.

* *»
* * «)
2*156

PERSONAL INCOME IN CURRENT DOLLARS
( A N N . RATE. B I L . OOL.)

• * «•
* **
2,141

AVERAQF

1945***
1946.*.
1947..*

*. .
170.6
194*6

. »»
178.0
195*8

•* .
186.2
198.8

* **
192*5
206*8

***
181.9
199.0

1945.*.
1946.*.
1947...

** *
170*8
187*9

• •*
176.2
186.1

162.2
193*8

185*8
197*4

• •*
178*7
191.3

1948*.*
1949.*.
1950*..

215.6
222.1
222*3

223*2
217.0
232*7

228.0
217.1
248.4

229.8
214*0
260*8

224.2
217.5
241.1

1948...
1949***
1950**.

203*3
208.6
220.5

208.8
2107*1
220.9

214.5
206*1
229*7

214.5
207.1
239*0

210*2
207.2
227*6

1951*.*
1952...
1953...

270*0
286.3
306.0

276.2
286.6
307.9

280.5
291.7
306*4

285*3
301*2
298.5

278.0
291.4
304.7

1951*..
1952.*.
1953...

247.1
264.7
285.0

254.3
268.4
289. 1

257*6
275*4
289*4

262*9
281*0
289*4

255*6
272*5
288*2

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

299.3
320.5
343.0

299*5
328.7
348.3

302*9
334.5
351.9

310.9
340.9
359.3

303.1
331.0
350*8

1954***
1955...
1956.*.

288.0
300*2
324,7

287.2
307.6
330*3

289.8
314*9
334*8

295,4
320*3
342*0

290.1
310.9
333.0

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

364.5
357.9
392.4

366.0
359.3
404.9

369.5
370.2
399.7

364.0
383.0
402.6

366.1
367.8
400*0

1957...
1958...
1959.*.

345.8
354.2
376.0

350.2
356*0
383*8

354.7
364.5
384*5

354*3
369.9
389*7

351*1
361*2
383*5

I960.*.
1961...
1962...

414.2
412.2
448.8

417.1
422.6
456.0

415.2
430.7
460.4

411.7
443*4
465.6

414.5
427*3
457.7

I960. **
1961.*.
1962.**

396.6
406.6
433.9

401*3
412*5
440*8

403*3
419.4
44S.O

403,3
428.0
450.3

401*0
416.8
442.6

1963...
1964*..
1965.**

470.6
504.0
545.2

477.4
513.7
556.7

485*7
524.2
569.1

493.9
530.4
586.3

481.9
518.1
564.3

1963***
1964...
1965**.

457.0
484.6
520.4

461*3
492.7
530.8

467.8
502.1
546*1

47$. 8
510*5
558*4

465*5
497.5
536*9

1966*..
1967...

603*2
639.3

615.0
646.2

626.9
658.5

637.3
672*0

620.6
654.0

1966.**
1967.**

570.3
615.2

5(80.7
622.2

592*9
634*5

605*0
645*9

587.2
629.4

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

104




. **

***

(JULY 196$)

C. Historical Data for Selected Series-Continued
This appendix contains historical data for BCD series extending back to 1945 or to the earliest date thereafter for which data are available. Data are published in this appendix for (a) new series which have been
added to the report, (j) series which have been revised recently, and (c) series which have not been shown historically for a long period of time. See the "Index-Series Finding Guide" for the latest issue in which
historical data for each series were published. Current data are shown in the basic tables of the report. Data are seasonally adjusted unless the symbol <u) (indicating unadjusted data) follows the series title. Official source agency quarterly and/or annual totals are presented in this table wherever possible. These figures are often calculated from data with more digits or from data which have not been seasonally adjusted;
therefore, they may differ slightly from totals and averages computed from data shown in the report.
Quarterly

Quarterly
Year
600.

1

II

ill

IV

FEDERAL GOVERNMENT SURPLUS OR DEFICITi
NATIONAL INCOME AND PRODUCT ACCOUNTS
(ANN. RATE, BIL. DOL*)

Annual

AVERAGE

Year

601.

1

Annual
II

III

IV

FEDERAL GOVERNMENT RECEIPTS, NATIONAL INCOME
AND PRODUCT ACCOUNTS {ANN. RATE, BIL. DOL.)

AVERAGE

1945..,
1946...
1947...

-7le
14.8

...
2.8
13.6

...
9.0
10.0

lol2
15.2

...
3.5
13.4

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

...
34.9
43.5

**.
38.2
42.8

...
41.1
42.1

...
42.1
44.5

**.
39*1
43*2

1948...
1949.,*
195J...

13.7
0.8
-4.8

10.6
-2.9
7.6

5.9
-3.9
16.4

3.4
-3.9
17.1

8.4
-2.4
9.1

1948...
1949...
1950...

44.7
40.8
42.4

43.5
38.8
46.6

42.6
38.5
52.9

42.4
37.5
57.5

43*3
38*9
49»9

1951...
1952...
1953...

18.0
0.1
-4.5

8.2
-3.8
-6.2

0.1
-7.6
-5.7

-1.3
-3.7
-11.7

6.2
-3.8
-7.0

1951...
1952...
1953...

65.6
66.2
71.7

62.7
66*3
71.9

62.0
66*8
70.7

65.9
69.8
65.6

64.0
67.2
70.0

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

-10.5
1.3
6.3

-6.6
4.0
5.5

-5.0
5.0
4.9

-1.8
6.0
6.0

-5.9
4.0
5.7

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

62.9
69.2
75*6

62.9
71.1
77.2

63.6
73.3
77.2

65.7
75.0
80.1

63.8
72.1
77.6

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

4.3
-8.1
-4.2

2.5
-12.4
0.8

2.6
-10.8
-1.0

-1.5
-9.8
-0.6

2.1
-10.2
-1.2

1957.*.
1958.**
1959..*

82.4
76*0
87.5

62.2
75.9
91.2

82*3
79.5
69.9

79.4
83.1
90.3

81.6
78.7
89.7

I960...
1961...
1962...

7.1
-4.9
-5.0

5.6
-4.5
-4.6

1.5
-3.8
-2.6

-0.6
-1.9
-3.2

3.5
-3.8
-3.8

1960...
1961...
1962...

97.5
94.4
103.4

97.6
97*1
105.6

95.7
99*1
107.6

95.1
102.4
109.2

96*5
98.3
106*4

1963...
1964...
1965...

-2.4
-2.5
4.4

1.8
-6.3
4.7

1.2
-2.7
-3.1

2.1
-0.6
-1.1

0.7
-3.0
1.2

1963...
1964*..
1965...

112.0
115.3
123*2

113.9
112*2
124*8

115.0
115.4
123*4

117.2
117.2
127.4

114.5
115.0
124.7

1966...
1967...

1.4
-12.0

3.0
-13.2

-1.2
-13.4

-0.2
-12.7

1966...
1967...

136.4
147.5

141.4
148*3

145*3
152*0

147.0
156.4

142.5
151.1

602,

-4.1
-12.3

FEDE'.RAL GOVERNMENT EXPENDITURES t NATIONAL
INCOME AND PRODUCT ACCOUNTS
(ANN, RATEI BIL. DOL.)

AVERAGE

854.

RATIO, PERSONAL SAVING TO DISPOSABLE
PERSONAL INCOME (RATIO)

AVERAGE

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

...
42.8
28.7

...
35.4
29,2

...
32.1
32.2

...
32.0
29.3

...
35.6
29.8

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

...
0.117
0*062

...
0.106
0.027

...
0.082
0.047

...
0.077
0.038

...
0.095
0.043

1948...
1949...
195G...

31.0
40.0
47.2

32.9
41.7
39.0

36.7
42.4
36.4

39.0
41.4
40.4

34.9
41.3
40.8

1948...
1949...
1950...

0.050
0.060
0.088

0*068
0.048
0.064

0*084
0*049
0.032

0.079
0.043
0.066

0.070
0.050
0.063

1951...
1952...
1953...

47.6
66.1
76.2

54.5
70.1
78.0

61.9
74.4
76.5

67.2
73.5
77.3

57.8
71.0
77.0

1951...
1952...
1953...

0.047
0*078
0.067

0.089
0.070
0*075

0.085
0.086
0.073

0.082
0.069
0.076

0.076
0.076
0.073

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

73.4
67.9
69.3

69.5
67.1
71.8

68.6
68.3
72.3

67.6
69.0
74.1

69.7
68.1
71.9

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

0.073
0.051
0.065

0.062
0.055
0.070

0*059
0.060
0.072

0.061
0.061
0.073

0.064
0.057
0*070

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

78.1
84.1
91.7

79.7
88.3
90.4

79.7
90.3
90.9

80.9
92.9
91.0

79.6
88.9
91.0

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

0.067
0.068
0.062

0*071
0.066
0.063

0.069
0.072
0.047

0.064
0.074
0.054

0.068
0.070
0.056

1969...
1961...
1962...

90.4
99.3
108.4

92.0
101.6
110.2

94.2
102.9
110.2

95.7
104.3
112.4

93.0
102.1
110.3

1960...
1961...
1962...

0.052
0.052
0.059

0.047
0.056
0*062

0.052
0.060
0.054

0.045
0.062
0.048

0*049
0.057
0.056

1963...
1964...
1965...

114.4
117.8
118.8

112.1
118.5
120.2

113.8
116.1
126.5

115.1
117.8
128.5

113.9
118.1
123.5

1963...
1964...
1965...

0.049
0.052
0.054

0*048
0.064
0.054

0.046
0.056
0.067

0.054
0.066
0.065

0.049
0.060
0.060

1966...
1967...

135.0
159.5

138.4
161.4

146.5
165.3

151.1
168.8

142.8
163.8

1966...
1967...

0.059
0.075

0.062
0.070

0.061
0.074

0.072
0.077

0.063
0.074

Note:

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




(JULY 1969)

105

C. Historical Data for Selected Series-Continued
This appendix contains historical data for BCD series extending back to 1945 or to the earliest date thereafter for which data are available. Data are published in this appendix for (a) now series which have teen
added to the report, (b) series which have been revised recently, and (c) series which have not been shown historically for a long period of time. See the "Index-Series Finding Guide" for the latest issue in wl ich
historical data for each series were published. Current data are shown in the basic tables of the report. Data are seasonally adjusted unless the symbol ® (indicating unadjusted data) follows the series title. C fficial source agency quarterly and/or annual totals are presented in this table wherever possible. These figures are often calculated from data with more digits or from data which have net been seasonally adjus ed;
therefore, they may differ slightly from totals and averages computed from data shown in the report.

Quarterly

Quarterly
Year

1

II

III

IV

520. u.s* BALANCE: OF

PAYMENTS — LIQUIDITY BALANCE
BASIS (MIL. DOL.)

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

Annual

Year

I

522.

TOTAL

II

III

Annual

IV

U.S. BALANCE OF PAYMENTS — OFFICIAL
SETTLEMENTS BASIS {MIL. DOL.)

TOTAL

.
.
.
993
4,210

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

.*•
..»
.
.
.

..»
*• •
*. *

...
. .»
•* •

*.o
•.«
***

** #
** *
.* *

...
•* .
.*.

*. *
•* *
** *

*..
...

*.«
•.*
***

...

...
** .
•* *

...
...
**.

...
*. *
** *

1943.,.
1949...
195D...

- 427

- 641

-If 761

- 660

817
136
-3,489

1948...
1949...
1950...

...
*. .
** *

•.*
•. .
.•*

...
...
...

1951...
1952...
1953...

- 771
381
- 665

-33
- 427
- 433

311
- 717
- 620

485
- 443
- 466

-8
-1,206
-2,184

1951...
1952...
1953...

...
...
.* •

..»
.*•
** *

*# .
• .*

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

- 371
48
- 516

- 173
- 470
- 208

- 479
- 331
- 386

- 518
- 489
137

-1,541
-1,242
- 973

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

**»
..*
...

.
.
.
...
.*•

*• •

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

543
- 652
- 975

147
- 891
-1,071

387
- 859
-1,212

- 499
- 963
- 612

578
-3,365
-3,870

1957,..
1958*..
1959*..

** *
..*
•.*

...
..*
...

.*.
•*•
* **

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

- 819
- 515
- 778

- 817
72
- 302

-l,D32
- 704
- 450

-1,233
-1,224
- 674

-3,901
-2,371
-2,204

1960...
1961...
1962...

- 291
- 772
- 376

« 610
668
- 316

-1,033
- 542
-1,076

-1,469
- 701
- 934

-3,403
-1,347
-2,702

1963...
1964...
1965...

-1,111
- 235
- 682

-1,164
- 617
206

- 325
- 681
- 726

-70
-1,267
- 133

-2,670
-2,800
-1,335

1963...
1964...
1965...

- 980
- 192
- 660

.. 907
« 400
236

- 260
- 466
- 163

136
- 506
- 702

-2,011
-1,564
-1,289

1966...
1967...

- 600
- 495

-24
- 330

- 426
-1,031

- 307
-1,688

-1,357
-3,544

1966...
1967...

- 344
-1,711

-• uo

239
- 917

266
-3,418

525,

NET CAPITAL MOVEMENTS — LIQUIDITY BALANCE
BASIS (MIL, DOL.)

TOTAL

527.

481
-71

- 719

NET CAPITAL MOVEMENTS — OFFICIAL SETTLEMENTS
BASIS (MIL, DOL.)

•.*
•*.
...
...
..*
.* *
** *
...
...

TOTAL

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

.*•
...
...

...
...
...

...
.••
...

...
...
...

-6,814
-7,407

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

•» »
•..
•.*

1948...
1949...
1950...

...
•.*
...

...
...

...
...
...

...
...
...

-5,701
-6,082
-5,381

1948...
1949...
1950...

** *
...
...

1951...
1952...
1953...

...
...
...

...
...

...
...

.
.
.
...
...

-3,825
-3,562
-2,716

1951...
1952...
1953...

•..
...
...

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

...
...
...

...
** *

...
...

...
.
.
.
...

-3,500
-3,395
-5,118

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

...
.. •
...

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

...
.
.
.
...

*. .
.
.
.
.
.
.

.*•
...
*. •

*• .
*. .
...

-5,323
-5,721
-4,180

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

...
•..
.**

1960...
1961...
1962...

-1,417
-2,157
-1,911

-1,636
-1,268
-1,755

-2,221
-1,995
-1,814

-2,761
-2,570
-1,871

-8,034
-7,993
-7,353

I960...
1961.,*
1962...

- 889
-2,414
-1,509

-1,429
- 672
-1,,769

-2,222
-1,833
-2,440

-2,997
»2,047 1
-a, 131

1963...
1964...
1965...

-2,298
-2,502
-2,280

-2,736
-2,600
-1,872

-1,754
-2,868
-2,617

-1,864
-3,408
-1,688

-8,654
-11,380
-8,456

1963**.
1964...
1965..*

-2,167
-2,459
-2,258

-2V479
-2,383
-1*842

-1,689
-2,653
-2,054

-1,658
-2,647
-2,257

-7,993
-10,142
-8,411

1966...
1967...

-2,158
-1,856

-1,422
-1,781

-1,526
-2,435

-1,530
-2,649

-6,636
-8,721

1966...
1967...

-1,902
-3,072

-In508
-2«170

- 619
-1,475

- 9$4
-1,878

-5,013
-8,595

Note:

...
** *
...
...
...
...

.
.
.
.
.
.

***
*. .

.
.
.

»* .

** *
** .

** .
.
.
.

** .

•* .

.
.
.

*• •

.
.
.
*. •

«• •
** .

* » tt
•• *

.
.
.

** .
.
.
.

.
.
.

*. .
...
** .
** .
...
*. •
...
...
•* •
** .
** *
** .
***
-7,537
-6,966
-7,849

See "New Features and Changes for This Issue/1 page iii.
(JULY 1969*

106




C. Historical Data for Selected Series-Continued
This appendix contains historical data for BCD series extending back to 1945 or to the earliest date thereafter for which data are available. Data are published in this appendix for (a) new series which have been
added to the report, (b) series which have been revised recently, and (c) series which have not been shown historically for a long period of time. See the "Index-Series Finding Guide" for the latest issue in which
historical data for each series were published. Current data are shown in the basic tables of the report. Data are seasonally adjusted unless the symbol ® {indicating unadjusted data) follows the series title. Official source agency quarterly and/or annual totals are presented in this table wherever possible. These figures are often calculated from data with more digits or from data which have not been seasonally adjusted;
therefore, they may differ slightly from totals and averages computed from data shown in the report.
Quarterly

Quarterly
Year

1

250.

II

III

IV

BALANCE ON GOODS AND SERVICES t EXCLUDING
MILITARY GRANTS (MIL. DDL.)

Annual

TOTAL

Year

252.

1

Annual
II

...
...
...

...
...
...

...
...
...

...
...
...

7,807
11,617

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

• **
» ••
* **

...
**.
** .

1948...
1949...
1950...

...
...
...

...
...
...

...
...
...

...
...
...

6,518
6,218
1,892

1948...
1949...
1950...

• •*
* **
* *«

* **
***
* **

1951...
1952...
1953...

*..
...
...

...
...
...

...
...
...

***
...
...

3,817
2,356
532

1951...
1952...
1953...

*»«
• **
* **

**.
...

1954**.
1955...
1956...

...
...
...

*..
...
...

...
...
...

...
...
...

1,959
2,153
4,145

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

* **
...
...

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

...
...
...

...
...

...
...

...
...
...

5,901
2,356
310

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

1960...
1961...
1962...

598
It 642
1,133

819
It 340
1,453

1,189
1,291
1,364

1,528
1,346
1,197

4,133
5,622
5,149

1963...
1964...
1965...

Itl87
2,267
1,598

1,572
1,983
2t078

1,429
2,187
1,891

1,794
2,141
1,555

1966...
1967...

1,558
1,361

1,398
It451

1.100
1,404

1,223
961

IMPORTS OF GOODS AND SERVICES (MIL. DOL.)

1945..*
1946...,
1947.., >

...
...
...

...
• *.
...

1948.. *
1949..,.
1950. ...

...
...
...

...
...
...

...

1951. .,>
1952..t>
1953. ..>

* **
***
«••

...
...

...
...

1954..,;
1955. .*
1956..,:,

1957..,,
1958..,,
1959...>

. **
«*.
»**
M . .
» . •
.
.
.

...
...
...

...

...
...
...

• •0

...
.
.
.

* *»
*..
...

TOTAL

* **
* **
...

...
14,792
19,819

* **
. **

...
...
...

16,861
15,834
13,893

* **

* **
...
...

...
...
...

18,864
18,122
17,078

*. .
...
...

...
...
...

• **
• **
*. *

17,889
19,948
23,772

...
• **
...

...
...
...

• **
• **
•••

* **
***
***

26,653
23,217
23,652

1960...
1961...
1962...

6,577
7,190
7,327

6,838
6,945
7,789

7,026
7,221
7,731

7,050
7,415
7,660

27,488
28,770
30,506

5,984
6,580
7,121

1963...
1964...
1965.*.

7,596
9,177
8,844

8,163
9,074
10,248

8,220
9,412
10,127

8,622
9,608
10,182

32,601
37,271
39,399

5,279
5,177

1966...
1967...

10,562
11,461

10,667
11,484

10,936
11,577

11,196
11,667

43,360
46,188

TOTAL

530.

.**

LIQUID LIABILITIES TO ALL FOREIGNERS! TOTAL
OUTSTANDING (MIL. DOL.)©

...
•* .
...

...
6,985
8,202

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

.
.
.

...
•• .
...

10,343
9,616
12,001

1948...
1949.*.
1950...

• • •

...
...
...

15,047
15,766
16,546

1951***
1952.*.
1953.*.

...

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

• * *
• • •

...

15,930
17,795
19,627

. t. .
...
...

20,752
20,861
23,342

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

.
.
.

...

IV

EXPORTS OF GOODS AND SERVICES. EXCLUDING
MILITARY GRANTS (MIL. DOL.)

1945...
1946.*.
1947...

253.

III

. * *
* **

• . .
.
.
.

• • •
* **
* **

• . .

.
.
.

* **

END Or YEAR

•• •
** .
...

••»
...
...

* **
* **
• **

5,905

• **
•• •
• **

...
• **
•**

•• •
•*.
...

6,824
6,954
8,685

•*.
...
...

•**
...
...

...

8,726
10,347
11,275

...
...
...

...
...
...

***
*. .
...

12,336
13,396
15,238

* **
* **
...

...
...
.**

...
...
...

15,825
16,845
19,428

* **
***

...

I960..,.
1961... »
1962.. *

5,979
5,548
6,194

6,019
5,605
6,336

5,837
5,930
6,367

5,522
6,069
6,463

23,355
23,148
25,357

1960*. *
1961*..
1962***

19,974
20,990
22,985

20,637
21,236
23,469

21,086
22,360
23,281

21,027
22,936
24,068

21,027
22,936
24,068

1963..
1964..
1965..

6,409
6,910
7,246

6,591
7,091
8,170

6,791
7,225
8,236

6,828
7,467
8,627

26,617
28,691
32,278

1963...
1964...
1965..*

24,741
26,149
28,342

25,807
26,478
28,086

26,178
27,429
29,051

26,322
29,002
29,115

26,322
29,002
29,115

1966..
1967..

9,004
10,100

9,269
10,033

9,836
10,173

9,973
10,706

38,081
41,011

1966...
1967..*

28,738
28,990

28,819
29,620

29,432
31,211

29,779
33,119

29,779
33,119

Note:

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




(JULY 1969)

107

C. Historical Data for Selected Series-Continued
This appendix contains historical data for BCD series extending back to 1945 or to the earliest date thereafter for which data are available. Data are published in this appendix for (a) new series which have been
added to the report, (b) series which have been revised recently, and (c) series which have not been shown historically for a long period of time. See the "Index-Series Finding Guide" for the latest issue in which
historical data for each series were published. Current data are shown in the basic tables of the report. Data are seasonally adjusted unless the symbol ® (indicating unadjusted data) follows the series title. Official source agency quarterly and/or annual totals are presented in this table wherever possible. These figures are often calculated from data with more digits or from data which have not been seasonally adjusted;
therefore, they may differ slightly from totals and averages computed from data shown in the report.
Quarterly

Quarterly
Year

1

II

III

IV

532.
LIQUID AND CERTAIN NONLIQUID LIABILITIES TO
FOREIGN OFFICIAL AGENCIES, TOTAL OUTSTANDING 1
(MIL. DOL.)@

1945...
19*6...
1947.*.
1948...
1949...
1950...

im...
1952...
1953.*.

*•.
...

• ••
...
...
.**

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

•. •
• *•

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

..*
** .
..*

• ••

• *•

• ••
• ••
*.*

...

...

...
.• .

Annual

END OF YEAR

II

III

Annual

IV

534.
U.S. OFFICIAL RESERVE ASSETS POSITION i
EXCLUDING MILITARY GRANTS (MIL. DOL.)©

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

...
*• .
*.*

* »•
* **
* •• •

* **

1948...
1949...
1950.*.

.**
...
.**

• •• •
•* .
...

1951.**
1952...
1953...

.»»
...
...

...
* .*
...

**.

* * .

***

* *.

.**

. •*

...

...

...

...
.* .

...
**.

•..

• •*
...
.* .

...
• ••

...

• ••
.• .
.•*

•..

•

.* .
.. *

*.•
...

...

Year

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

* **
** .

...
...
...

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

...
**.
...

...

.. *
...

...

END OF YEAR

. * *

* . *
* . .

24,023
25,759
26,025
24,267

**.

• . *

• **
...

* **
...

...

...

. *.

...

. * *

•..

** *

...

.••
...
.• •

* . .

24,300
24,715
23,459
22,979
22,797
23,666

...

...

24,831
22,539
21,504

...

...

• • •

Jt960* . .
1961...
1962...

10.480
11,949
12,095

13,982
11,645
12,671

11,398
12,572
13,055

11,838
12,630
13,766

11,888
12,630
13,766

I960...
1961...
1962...

21,345
18,988
18,326

21,170
19,308
18,49C

20,43C
19,521
17,609

H9,3S9
118,753
J17.220

19,359
18,753
17,220

1963...
1964...
1965...

14, IDS
14,938
15,873

15,024
15,188
15,736

15,250
15,794
15,972

15,366
16,755
16,822

15,366
16,755
16,822

1963...
1964.**
1965...

17,188
16,894
15,830

17,065
16,591
15,762

16,838
16,521
15,721

16,843
16,672
15,450

16,843
16,672
15,450

1966.**
X967..*

16,004
16,295

16,305
17,424

15,797
17,819

16,043
19.4C2

16,043
19,402

1966...
1967...

15,026
13,855

14,958
14,274

14,876
14,649

14,832
14,830

14,882
14,830

MERCHANDISE IMPORTS, ADJUSTED, EXCLUDING
MILITARY (MIL. DOL.)

TOTAL

536,

MERCHANDISE EXPORTS, ADJUSTED, EXCLUDING
MILITARY GRANTS (MIL. DOL.)

TOTAL

537.

...
11,764
16,097

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

...
...

* *«
. * ••
*.«

***
...
* ..

* *.
.*.
***

*.*
5,067
5,973

• ••

13,265
12,213
10,203

1948*..
1949...
1950...

...
...
...

*. *
*.*
* * *»

...
...
...

...
...
***

7,557
6,874
9,081

•* .

• ••
...
...

14,243
13,449
12,412

1951...
1952...
1953...

...
...
...

• »o
.. «

. **
...

...
**.

11,176
10,836
10,975

• »*
...
.••

...

...

12,929
14,424
17,556

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

...
...
...

. * «i

* •»

• • <>

•*.
...
•. .

..*
...
...

10,353
11,527
12,803

...

**.
.• .

...
* ••
• ••

19,562
16,414
16,458

1957...
1958..*
1959...

• **
...

..«
. . *i

...
...
...

...
...
...

13,291
12,952
15,310

1945*..
1946*..
1947...

• **
...
*•.

1948.**
1949*..
1950*..

**.
*. .
»•.

1951..*
1952..*
1953*..

**.
.**
.. •

**.

1954..*
1955...
1956...

...
.**
** .

1957*..
1958...
1959*..

**.
•• .
...

• ••
• ••

••.

.• .
...
.**

...

...

...

I960...
1961...
1962*..

4,682
5,092
5,074

4,92^
4,31^
3,339

§,H29
5,^35
5,330

5,019
5,170
5,036

19,650
20, K7
20,779

1960...
1961...
1962...

3,811
3,390
3,959

3,854
3,433
4,074

3,646
3,804
4,109

3,433
3,892
4,076

14,744
14,519
16,218

1963...
1964...
1965...

5,054
6,228
5,674

5,597
6.2C1
6,936

5,664
6,415
6,360

5,937
6,634
6,977

22,252
25,478
26,447

1963...
1964...
1965...

4,050
4,404
4,680

4,214
4,591
5,482

4,365
4,736
5,564

4,382
4,916
5,770

17,011
18,647
21,496

1966...
1967.*.

7,218
7,688

7,194
7,723

7,413
7,669

7,564
7,601

29,389
30,681

1966...
1967...

6,027
6,660

6,165
6,465

6, 595
6,542

6,676
7,154

25,463
26,821

Nate: Soo "New Fgatures and Changes for This Issue/1 page iii.
1
Exelud0o Treasury Department liabilities to certain foreign military agencies during I960, 1961, and 1962.

These liabilitieo arc included in ooriaB S3Q.
(JULY 1969)

108




C. Historical Data for Selected Series-Continued
This appendix contains historical data for BCD series extending back to 1945 or to the earliest date thereafter for which data are available. Data are published in this appendix for (a) new series which have been
added to the report, (b) series which have been revised recently, and (c) series which have not been shown historically for a long period of time. See the "Index-Series Finding Guide" for the latest issue in which
historical data for each series were published. Current data are shown in the basic tables of the report. Data are seasonally adjusted unless the symbol <g) (indicating unadjusted data) follows the series title. Official source agency quarterly and/or annual totals are presented in this table wherever possible. These figures are often calculated from data with more digits or from data which have not been seasonally adjusted;
therefore, they may differ slightly from totals and averages computed from data shown in the report.
Quarterly

Quarterly
Year

540.

Annual

1

II

III

Ill

.:.::

III

1951..*
1952..*
1953..i

III

III

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

...
III

III

*.*

...

Ill

3,596
3,621
3,690

1948...
1949...
195C...

. ##
• .*

...

4,621
4,673
4,666

1951...
1952...
1953...

. *.

4,960
5,524
6,216

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

7,091
6,803
7,194

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

:'::

HI

IV

541.
FOREIGNERS' INVESTMENT INCOME, M I L I T A R Y
E X P E N D I T U R E S , A N D OTHER S E R V I C E S I M P O R T S
(MIL. OOL.)
1945...
1946...
1947...

...

Ill

TOTAL

II

3,028
3,722

...

8 . .

1948..
1949..
195,'..,.

1957...
1958...
1959..*

.*.

1

IV

U . S . INVESTMENT I N C O M E , M I L I T A R Y SALES, A N D
OTHER S E R V I C E S EXPORTS ( M I L . D O L . )

1945..
1946..
1947..

Year

Annual

TOTAL

* **

•*•

III

III
...

...

III
•* .

Ill

...

III

Ill

. •»

1,918
2,229

2,786
2,742
2,920
3,871
4,928
5,571

Ill

5,577
6,268
6,824

III

7,461
7,909
8,032

...

:::

III

196J...
1961...
1962...

1,895
2,098
2,253

i,918
2,135
2,450

1,997
2,186
2,401

2,031
2,245
2,624

7,838
8,663
9,727

1960...
1961...
1962...

2,168
2,158
2,235

2,165
2,172
Z,262

2,191
2,126
2,258

2,089
2,177
2,387

8,611
8,629
9,139

1963...
1964...
1965...

2,542
2,949
3,170

2,566
2,873
3,312

2,556
2,997
3,267

2,685
2,974
3,2C5

10,349
11,793
12,952

1963...
1964...
1965...

2,359
2,506
2,566

2,377
2, SOU
2,688

2,426
2,489
2,672

2,446
2,551
2,857

9,606
10,044
10,782

1966...
1967...

3,344
3,773

3,473
3,761

3,523
3,908

3,632
4,066

13,971
15,507

1966...
1967...

2,977
3,440

3,104
3,568

3,241
3,631

3,297
3,552

12,618
14,190

542.

:::

:::

INCOME ON U . S . INVESTMENTS ABROAD ( M I L . D O L . )

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

...

1948...
1949...
1950...

...

...

TOTAL

543.

I N C O M E ON F O R E I G N INVESTMENTS IN THE U . S .
( M I L . DOL.-)

III

772
1,102

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

III

...

Ill

III

1,340
1,395
1,593

1948...
1949...
1950...

III

II.
...

1951...
1952...
1953.,..

Ill

Ill

III

...

1,882
1,828
1,910

1951...
1952...
1953...

III

1954. ...
1955..,.
1956. «.

III

:::

:::

...

2,227
2,444
2,662

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

;.

...

...

...

...

2,817
2,845
3,043

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

in

1957. « .
1958.*.
1959.,,.

...

...

...

212
245

...

...

Ill

Ill

...

:

...
...

TOTAL

III
...

*..
*..

:::

280
333
369
414
421
461
420
489
568
639
669
828

19621* I

806
967
1,0'jl

806
944
1,091

847
999
1,082

892
1,032
1,244

3,349
3,942
4,419

1960...
1961...
1962...

281
243
270

271
246
276

264
254
281

248
265
285

1,063
1,007
1,110

1963.*.
1964.*.
1965.,..

1,155
1,356
1,507

1,112
1,330
1,569

1,157
1,385
1,473

1,225
1,316
1,345

4,649
5,386
5,893

1963...
1964...
1965...

310
357
400

319
358
430

336
361
430

358
380
469

1,325
1,456
1,729

1966.*.
1967...

1,482
1,612

1,557
1,580

1,573
1,801

1,640
1,879

6,252
6,872

1966...
1967...

479
584

503
591

569
580

591
607

2,143
2,362

Note :

Seje "New Features a.nd Changes for This Issue ," page ill.




(JULY 1969)

109

C. Historical Data for Selected Series-Continued
This appendix contains historical data for BCD series extending back to 1945 or to the earliest date thereafter for which data are available. Data an; published in this appendix for (a) new scries which have been
added to the report, (b) series which have been revised recently, and (c) series which have not been shown historically for a long period of time. See the "Index-Series Finding Guide" for the latest issue in which
historical data for each series were published. Current data are shown in the basic tables of the report. Data are seasonally adjusted unless the symbol <g) (indicating unadjusted data) follows Ihe series title. Official source agency quarterly and/or annual totals are presented in this table wherever possible. These figures are often calculated from data with more digits or from data which have not been seasonally adjusted;
therefore, they may differ slightly from totals and averages computed from data shown in the report

Quarterly

Quarterly
Year
544.

1

II

III

IV

RECEIPTS FROM FOREIGN TRAVELERS IN THE U.S.
(MIL. DOL.)

1945...
1947...
1948...
1949.**
1950...

...
...

...
...

...

...

...
...

Annual

TOTAL

Year
545.

1

III

II

PAYMENTS BY U.S(> TRAVELERS ABROAD
(MIL. DOL.}

III

271
364

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

.•*

...

334
392
419

1948...
1949...
195C...

...

473
550
574

1951...
1952...
1953...

...
...

*•.
•*•

595
654
705

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

...

. <» .

..*

785
825
902

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

...
...

IV

Annual

TOTAL

.
.
.
.
.
.
.
.
.

*. w
»• #
». *

.
.
.

»» *

.
.
.

w.«

.
.
.

*» »

.
.
.
.
.
.

w* .
.
.
.

1,009
1,153
1,275

:• ; :

.
.
.
.
.
.
.
.
.

*» *
** .
** *

1,372
1,460
1,610

...
...

462
573
631
700
754

1951...
1952...
1953...

...

•#•

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

...
...

**.
*. .

...

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

...

**.

;;;

I960...
1961...
196Z...

224
228
247

227
237
25U

237
240
231

231
242
229

919
947
957

1960...
1961...
1962...

435
440
466

447
437
4(13

437
442
488

431
466
502

1,750
1,785
1,939

1963...
1964...
1965...

245
292
319

253
297
337

253
303
347

264
315
377

1,015
1,207
1,380

1963...
1964...
1965...

503
531
600

525
544
603

545
555
610

541
581
625

2,114
2,211
2,438

1966...
1967...

379
416

389
391

411
416

411
423

1,590
1,646

1966...
1967...

644
701

6T6
8*1

666
914

671
739

2,657
3,195

S46.

...

:::

MILITARY SALES TO FOREIGNERS (MIL.DOL.)

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

...
...
...

...
*..

III

1948...
1949...
1950...

Ill

III

III

1951...
1952...
1953...

III

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

TOTAL

...

547.

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

U.S. MILITARY EXPENDITURES ABROAD
(MIL. DOL.)

III

III

...

TOTAL

.«*

1948...
1949...
1950...

...

...

1951...
1952...
1953...

...

...

*•.

' 192
182
200
161

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

Ill

...

. <* »

.
.
.

. w .

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

.
.
.

.* •

...
Ill
...

III

757
840
929

493
455
799
621
576

1,270
2,054
2,615

2,642
2,901
2,949

£
:'.::

III

19^7...
1958...
1959...

:::
:::

:":"

375
300
302

...

« . <*

.
.
.

*«.

3,216
3,435
3,107

1960...
1961...
1962...

71
86
111)

89
112
189

88
111
154

86
94
204

335
402
656

I960...
1961...
1962...

781
786
770

769
781
763

801
705
761

737
727
810

3,087
£,998
3,105

1963...
1964...
1965...

187
207
207

195
151
188

127
192
229

148
198
206

657
747
830

1963...
1964...
1965...

763
747
676

748
737
719

726
699
763

725
697
794

2,961
3, 880
a, 952

1966.*.
1967...

198
333

219
335

202
239

210
332

829
1,240

1966...
1967...

877
1,085

925
1,07!>

975
1,106

987
1,112

3,764
4,378

Note:

...

Ill

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

(JULY 1969)

110




C. Historical Data for Selected Series-Continued
This appendix contains historical data for BCD series extending back to 1945 or to the earliest date thereafter for which data are available. Data are published in this appendix for (a) new series which have been
added to the report, (b) series which have been revised recently, and (c) series which have not been shown historically for a long period of time. Seethe Index-Series Finding Guide" for the latest issue in which
historical data for each series were published. Current data are shown in the basic tables of the report. Data are seasonally adjusted unless the symbol © (indicating unadjusted data) follows the series title. Official source agency quarterly and/or annual totals are presented in this table wherever possible. These figures are often calculated from data with more digits or from data which have not been seasonally adjusted;
therefore, they may differ slightly from totals and averages computed from data shown in the report.
Quarterly

Quarterly
Year

'

548.

II

til

IV

RECEIPTS FOR TRANSPORTATION AND OTHER
SERVICES ( M I L . DOL.)

1945...
1946..,
1947...
1943...
1949...
1950...
1951...
1952...
1953...
1954...
1955...
1956...

III
...

;:•;

...

...

...

••*

...

...

:::

:::
III

:::

:::
III

Annual

Year

1

TOTAL

549.

1,985
2,256

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

1,922
1,834
1,678

1948...
1949...
1950...

2,266
2,295
1,990

1951...
1952...
1953...

1,956
2,226
2,686

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

3,114
2,833
2,947

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

II

IV

III

PAYMENTS FOR TRANSPORTATION AND OTHER
SERVICES ( M I L . DOL.)

Annual

TOTAL

...

II.

III

III

III

...

751
956

...

:::
...

:::

1,076
1,088
1,221
1,430
1,613
1,566

:::

III

:::

III

:::

Ill

...

...

...

...

2,234
2,345
2,487

1,506
1,725
2,032

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

...

:::

:::

:::

196%..
1961...
1962...

794
817
895

796
B42
920

825
836
934

822
877
947

3,236
3,371
3,694

I960...
1961...
1962...

671
689
729

678
708
740

689
725
728

673
719
790

2,710
2,839
2,986

1963...
1964...
1965...

955
1,094
1,137

ltOC6
1,095
1,218

1,019
1,117
1,218

1,048
1,145
1,277

4,028
4,452
4,850

1963...
1964...
1965...

783
871
890

785
861
936

819
874
869

822
893
969

3,208
3,497
3,664

1966...
1967...

1,285
1,412

1,308
1,455

1,337
1,452

1,371
1,432

5,3C1
5,748

1966...
1967...

977
1,070

1,000
1,061

1,031
1,031

1,048
1,094

4,055
4,256

560.

FOREIGN DIRECT INVESTMENTS IN THE U . S .
(MIL. D O L . )

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

II.

1948...
1949...
1950...

...

1951...
1952...
1953...

...

1954...
L955...
1956...

...

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

III

III

III

III

:

;;.

TOTAL

;;; ::;...

U . S . DIRECT INVESTMENTS ABROAD ( M I L .

10

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

34
56
80

1948...
1949...
195C...

90
132
158

1951...
1952...
1953...

124
197
232

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

155
98
238

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

III

III

561.

DOL.)

TOTAL

...

230
749

III

..I

III

III

...

:::

:::

:::

Ill

III

508
852
735

...

III

:::

III

667
823
1,951

:::

III

III

III

2,442
1,181
1,372

.. *

721
660
621

:::

:::

:::

:::

I960.,,
.1961...
1962...

40
2C
41

59
32
77

53
-5
6

-11
26
8

141
73
132

1960...
1961...
1962...

343
496
272

262
284
429

434
483
498

635
336
455

1,674
1,598
1,654

1963...
1964...
1965...

-5
17
85

47
29
-95

40
-27
44

-87
-24
22

-5
-5
57

1963...
1964...
1965...

620
462
1,245

492
613
879

334
664
635

530
588
709

1,976
2,328
3,468

1966...
1967...

52
64

38
7Q

113
12

110
112

86
258

1966...
1967...

728
717

934
533

917
947

1,060
956

3,639
3,154

iflote:

-

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




(JULY 1969)

111

C. Historical Data for Selected Series-Continued
This appendix contains historical data for BCD series extending back to 1945 or to the earliest date thereafter for which data are available. Data are published in this appendix for (a) new series which have been
added to the report, (b) series which have been revised recently, and (c) series which have not been shown historically for a long period of time. See the "Index-Series Fhding Guide" for the latest issue in vhich
historical data for each series were published. Current data are shown in the basic tables of the report. Data are seasonally adjusted unless the symbol © (indicating unrdjasted data) follows the series title. Official source agency quarterly and or annual totals are presented in this table wherever possible. These figures are often calculated from data with more digits or from data which have not been seasonally adjured;
therefore, they may differ slightly from totals and averages computed from data shown in the report.

Quarterly

Quarterly
Year

1

564.

Ell

II

IV

FOREIGN PURCHASES OF U.S. SECURITIES
(MIL. OOU.)

•*.

•«•

...

•••

...

...

19*n...

...

...

...

...

l95t'III

...

.*•

...

...

1951...
1952...
1953...

...

...

...

...

193*...
1955...
1956...

...

..»

...

...

Year

1

II

TOTAL

565.

- 338
- ICO

19*5...
19*6...
19*7...

- 192
7*
-7

19*8...
19*9...
195H...

126
37
70

1951...
1952...
1953...

1*1
181
323

195*...
1955...
1956...

237
0
**9

1957...
1958...
X959...

I
.
.

...

10*6...

*••

Annual

III

Annual

IV

U.S. PURCHASES OF FOREIGN SECURITIES
(MIL. DOL.)

...
...

...
...

• » *i
* »«

.
.
.

.
.
.

.
.
0

TOTAL

•••
...
.
.
.

.
.
.

.
.
.

• •«

.
.
.

.
.
.

..41

.
.
.

.
.
.

.
.
.

•*<!

.
.
.

.
.
.

.
.
.

• * 11

...

...

...

* • 0

.
.
.

Ill

III

HI

.
.
.

III

-9?
-36

1

95

-n
3S3
H7
-91
2U6
-20

19S7...
1958...
1959...

...

196?...
1961...
1962...

170
11*
1*5

118
152
7

5
3
-23

-11
66
6

282
32*
13*

196U...
1961...
1962...

23*
115
190

131
199
238

166
107
183

131
261
357

662
76?
969

1963...
196*...
1965...

1*
-*2
57

11*
1*
- 2*2

52
-30
- 227

103
-26
55

282
-8*
- 357

1963...
196*...
1965...

522
-22
16*

*60
1*2
151

206
96
299

-86
*61
1*3

*677
759

1966...
1967...

173
133

S2C
329

107
520

1C9
3*

9C9

1966...
1967...

322
223

80
266

37
*76

-7
301

*81
1,266

S7Q.

©OVERNMENT GRANTS AND CAPITAL TRANSACTIONS,
NET (MIL. DOL.)

19*5...
19*6...
19*7...

...

19*8...
19*9...
1950...

in

in

in

in

:::

:::

:::

:::

III

III

III

1951...
1952...
1953...
195*...
195S...
1956...
1957...
1958...
1959...

•. .

...

...

...

TOTAL

575,

*73
668

BANKING AND OTHER CAPITAL TRANSACTIONS!
NET (MIL. DOL.)

-5,537
-6,507

19*5...
19*6...
19*7...

-5,317
-5,800
-3,6*2

19*8...
19*9...
195C...

-2,962
-2,666
-2,26*

1951...
1952...
1953...

-1,683
-2,366
-2,537

195*...
1953...
1956...

-2,681
-2,762
-2,187

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

...

III

III

...

...

TOTAL

- 279
- 276

- iza
36
- 338

:::

:::

:::

:::

- 163
- 180
2*7

...
- 519
- 599

...

- 56*
- 42*
- 301

196V...
1961...
1962...

- 698
- 90*
- 8*9

- 693
~*2
- 810

- 599
- 910
- 301

- 968
-1,075
- *3*

-2,956
-2,929
-2,393

196C...
1961...
1963...

-*7
- 312
- 588

- 3*6
- 376
26

- 670
- 3**
- 2**

- 563
- 566
- 102

-1,626
-1,598
- 908

1963...
196*...
1965...

- 89*
- 7>5
- 835

-1,133
- 928
- 976

- 583
- 731
- 82*

- 8**
-1,013
- 950

-3,*53
-3,377
-3,585

1963...
1964...
1965...

1*
- 891
-96

- 562
- 6*8
712

- 183
- 8^9
0

- 6ai
- 863
198

-1,352
-3,261
81*

1966...
1967...

-UG63
-1,121

-1,05*
- 955

- 789
- 961

- 825
-1,17*

-3,731
-*,21*

1966...
1967...

118
*62

**6
*67

325
- 329

378
- 199

1,267

Note:

Soo "New Feature© and Changes for This Issue," page iii.

112




(JULY 19 .9)

INDEX
Series Finding Guide
(See table of contents (page i) for chart and table titles)
Series titles (shown in chart/table sequence)
(See complete titles in "Titles and Sources of
Series," following this index)

Current issue
(page numbers)
Charts

Tables

Series
Historical
descriptions
data
(issue date) Issue date)

A, NATIONAL INCOME AND PRODUCT

Series titles (shown in chart/table sequence)
(See complete titles in "Titles and Sources of
Series," following this index)

Current issue
(page numbers)
Charts

B. CYCLICAL INDICATORS-Con

U. Gross Notional Product
200 GNP in current dollars
205. GNP in 1958 dollars
210 Implicit price deflator
215 Per capita GNP in current dollars
217 Per capita GNP in 19JJ8 dollars

B2. Production, Income, Consumption, Trade
9,21,38
9,21,38
5,64,70 Vuly'68# (July'68# *20Q. GNP in current dollars
4July'68# *205. GNP in 1958 dollars
9,21,3^56
9,21,38,56 5,64,70,86 > and
*47. Industrial production
I9
Jjan. '69
21,38,62
5,64
*52. Personal income
21,38
July '69
9
5,64
53.
Wages,
salaries
in
mining,
mtg.,
constr
.
.
.
21
July '69
5,64
9
*56. Manufacturing and trade sales
22,38
\2. National and Personal Income
57. Final sales
22
220. National income, current dollars
10
5,64
July »69
*54. Sales of retail stores
22,38
222,, Personal income, current dollars
10
July '69
5,64
224. Disposable personal income, current dol. . .10
5,64
B3. Fixed Capital Investment
225. Disposable personal income, constant dol. . 10
5,64
!
23,36
226. Per capita disposable personal income,
13. New business incorporations
23
10
current dollars
5,64
*6.
New
orders,
durable
goods
industries
23,36
227, Per :apita disposable personal income,
8. Construction contracts, total value
10
5,64
23
*10. Contracts and orders, plant, equipment. . .23,36
V3. Personal Consumption Expenditures
11. New capital appropriations, manufacturing 24
230 Tote 1 current dol lars
11
5,65
24. New orders, mach. and equip, industries. . 24
11
231. Total, constant dollars
5,65
24
232. Durable goods, current dollars
11
5,65
24
233. Durable goods, exc. autos, current dollars . 11
5,65
24,36
234. Automobiles, current dollars
11
5,55
236. Nondurable goods, current dollars
11
5,65
96. Unfilled orders, durable goods industries. 25
237. Services, current dollars
11
5,65
97. Backlog of capital approp., manufacturing. 25
*61. Business expend., new plant and equip . .25,39,40
A4. Grosii Private Domestic Investment
69. Machinery and equipment sales and
5,65
240. Gross private domestic investment, total. » . 12
business construction expenditures
25
12
5,65
241 Nonresidential fixed investment
12
B4; Inventories and Inventory Investment
5,65
242 Nonresidential structures
• •
12
12,26
245. Change in bus. inventories, all indus
5,65
243 Producers' durable equipment .
12
26,37
*31. Change in mfg. and trade inventories
5,65
244 Residential structures
12,26
37. Purchased materials, higher inventories. . 26
July '68# July '68#
5,65,73
245. Change in business inventories
20. Change in materials, supplies inventories 26
26. Buying policy, production materials
26
A5. Foreign Trade
5,66,82
250 Net exports of goods and services .,.„... 13,47
32. Vendor performance, slower deliveries. . .27
5,66,82
13,49
25. Change in unfilled orders, dur. goods
27
5,66,82
253. Imports of goods and services
13,49
*71. Book value, mfg, and trade inventories. . .27,39
65.
Book
value,
mfrs/
inven.,
finished
goods.
27
A6. Gov. Purchases, Goods and Services
5,66
260. Federal, State, and local governments
14
B5. Prices, Costs, and Profits
5,66
262. Federal Government
H
28,37
264 National defense
5,66,84
U,53
July '68# July '68# *23. Industrial materials prices
*19. Stock prices, 500 common stocks
28,37,63
5,66
266 State and local governments
H
*16 Corporate profits after taxes
28,37
22. Ratio, profits to income originating,
A7. Final Sales and Inventories
28
corporate, alt industries
5,66
270 Firal sales durable goods
15
15. Profits per dollar of sales mfg
28
271. Change in business inventories, durable
*17.
Ratio,
price
to
unit
labor
cost,
mfg
28,37
5,66
goods
. . . . .15
.
5,66
274. Fi nal sales, nondurable goodst
15
55.
Wholesale
prices,
indus.
commodities
.
.
.
29
275. Change in business inventories,
58. Wholesale prices, manufactured goods . . .29,55
5,66
nondurable goods
15
68. Labor cost per unit of gross product,
nonfinancial corporations
29
AS. Notional Income Components
*62. Labor cost per unit of output, mfg
29,39
5,66
16
280 Compensation of employees
5,66
282 Proprietors' income
16
B6. Money and Credit
284 Rental income of persons
5,66
16
98. Change in money supply and time deposits 30
286. Corp. profits and inventory valuation adj . .16
5,67
85 Change in money supply
30
288. Net interest
16
5,67
33 Change in mortgage debt
30
*113. Change in consumer installment debt
30,37
A9. Saving
290. Gross saving, private and government
5,67
17
112 Change in business loans
30
292. Personal saving . . „
5,67
17
110 Total private borrowing
31
294. Undistributed corporate profits plus
31
inventory valuatioh adjustment
5,67
17
39 Delinquency rate installment loans
* 31
2% Ccipital consumption allowances
5,67
17
298. Government surplus or deficit
5,67
17
93 Free reserves
•
32
114 Treasury bill rate
32
B. CYCLICAL INDICATORS
116 Corporate bond yields
32
115 Treasury bond yields
32
B1. Employment and Unemployment
*1. Average workweek, prod, workers, mfg
6,68
18,36
Aug. '68
Aug. '68
117 Municipal bond yields
32
Mar. '69 June '69
*4. Nunagri. placements, alt industries
6,68
18,36
66 Consumer installment debt
33
Aug. '68
Aug. '68
2. Accession rate, manufacturing
6,68
18
*72. Com. and industrial loans outstanding . . 33,39
,
Mar. '69
June '69
5. Initial claims, State unemploy. insurance. . 18
6,68
*67 Bank rates on short-term bus loans
33,39
Aug. '68
Aug. '68
6,68
18
118 Moftsase vields residential
33
49.
46
48.
*41.
42.
*43
45.

N ^agricultural job openings unfilled
19
H a lp-wanted advertising
*
*
19
Man-hours in nonag,ri. establishments
19
19,38
Employees on nonagri. payrolls
Persons engaged in nonagri. activities . . 19
.
20,38
Unemployment rate total
20
Avg. weekly insured unemploy. rate
20

20,39

6,68
6,68
6,69
6,69
6,69
6,69
6,69
6,69
6,69

'69
June '68

June '69

Aug.
Aug.
Mar.
Mar.
Dec.
Mar.
Mar.

Aug. '68#
Aug. '68

Mar.

'68#

'68
'69
'69
'67
'69
'69

*Serius preceded by arj asterisk (*) are on the 1966 NBER "short list" of indicators.




Tables

Historical
Series
data
lescriptions
'issue date) issue date)

June '69

B7. Composite Indexes
810. 12 leading indicators, reverse trend adj.. . 34
820 5 coincident indicators
34
830. 6 lagging indicators
34
813. Marginal employment adjustments
35
814. Capital investment commitments
35
815. Inventory investment and purchasing .... 35
35
816. Profitability
35
817. Sensitive financial flows

6,64,70 July '68# July
6,64, 70,86 July '68# July
6,70,98 Dec. »68 Nov.
6,70
July '69 July
6,70
July '69 July
May '69
6,70
F©b.
6,70
July '69 July
May '69
6,70

'68#
'68#
'68
'68
',68
'69
'68

6,71
6,71
6,71
6,71
6,71

Apr. '<&#
Mar. '68
Sep. '68

6,71
6,71
6,72
6,72
6,72

Aug. '67
Sep. '68

Sep.

'68

May '67
May '68
June '68

Apr.
Apr.

'69
'69
'68

6,72
6,72

Sep.

'68

Sep.

'68

Sep. '68

Sep. '68
Aug. '67
Nov. '68

Sep.

7,72,78
7,72

Sep.

Sep. '68#

7,65,73

'68#

Nov. '68

July '68# July '68#
Feb. '69

7,73
7,73
7,73
7,73

Dec. '68
Mar. '68
Sep. '68
Mar. '68

7,73
7,73
7,73
7,73

Jan.
Sep.
Jan.
Sep.

7,74

Apr.

'68
'68
'69
*68

Sep.

'68

Sep. '68
Feb. '69
Sep. '68

7,74

'69 Apr. '69
June '69 May '69
July '69 July '68

7,74
7,74
7,74

Mar.
Nov.

7,74,99

July '69 July '68
'69 Mar. '69
'68 Nov. '68

7,74,85

June '69
June '69

7,74
7,74

July '69 July '68
Dec. '68 Nov. '68

7,75
7,75
7,75
7,75

Aug.
Aug.
Mar.
Jan.

7,75
7,75
7,75
7,75

June '69
Mar. '68
Feb. '69
June '69

7,76
7,76
7,76
7,76

Jan. '68
Apr. '68

7,76
8,76
8,76
8,76
8,76

Jan.
Jan.
Apr.
Jan.
Jan.

'68
'69
'69
'68
'68

July '64

6,77
6,77
6,77
6,77
6,77
6,77
6,77
6,77

Jan.
Jan.
Jan.
Jan.
Jan.
Jan.
Jan.
Jan.

'69
'69
'69
'69
'69
'69
'69
'69

Nov.
Nov.
Nov.

7,74

#The "number" for this series title was changed since the publication date shown.

'68
'68
'69
'69

June '68
Jan. '68

June '69
June '69

Aug. '68
Aug. '68

July '64
July '64
July '64

July '64July '64
July '64

July '64
'68
'68
'68

113

Series Finding Guide-Continued
(See table of contents (page i) for chart and table titles)
Current issue
(page numbers)

Series titles (shown in chart/table sequence)
(See complete titles in "Titles and Sources of
Series," following this index)

Tables

Charts

Series
Historical
descriptions
data
(issue date] (issue date)

Charts

Tables

Historical
Series
data
description:
(issue date) (issue date

D. OTHER KEY INDICATORS-Con.

C. ANTICIPATIONS AND INTENTIONS
Cl. Aggregate Series
61 Bus expend new plant and eouip
410 Manufacturers' sales total
412. Mfrs.' inventories, book value
414 Condition of mfrs ' inventories
416. Adequacy of manufacturers' capacity

25,39,40
41
41
41
41

72,78
78
78
78
78

Nov.
Nov.
Nov.
Nov.
Nov.

'68
'68
'68
'68
'68

42
42
42
42

78
78
78
78

Mar.
'69
Nov. '68

D442. Net profits, manufacturing and trade
0444. Net salesi manufacturing and trade
0446. Number of employees, mfg. and trade

43
43
43
43

79
79
79
79

Feb.
Feb.
Feb.
Feb.

P450.
0460.
D462.
0464.
0466.

44
44
44
44
44

79
79
79
79
79

Feb.
Feb.
Feb.
Feb.
Feb.

45
45
45

80
80
80

420.
425.
430
435

Current issue
(pa^e numbers)

Series titles (shown in chart/liable sequence)
(See complete titles in "Titles and Sources of
Series/ following this index)

Household income compared to year ago. .
Probability of change, household income. ,
New cars purchased by households
Index of consumer sentiment

Nov.
Nov.
Nov.
Nov.
Nov.

'68
'68
'68
'68
'68

Nov.
Nov.
Nov.
Nov.

'68
'68
'68
'68

'69
'69
'69
'69

Nov.
Nov.
Nov.
Nov.

'68
'68
'68
'68

'69
'69
'69
'69
'69

Nov.
Nov.
Nov.
Nov.
Nov.

'68
'68
'68
'68
'68

Feb. »69
Feb. '69
Feb.
'69

Nov.
Nov.
Nov.

'68
'68
'68

D3. Federal Government Activities-Con.
616, Defense Dept. obligations, total
53
621. Defense Dept. obligations, procurement. . . 53
647. New orders, defense products industries . .53
648. New orders, defense products
53
625 Military contract awards in U.S
53
D4. Price Movements
781. Consumer price index, all items
782. Consumer price index, food
783. Consumer price index, commodities
784 Consumer price index seivices

94,61
54
54
54

Dec.
Doe.
Sop.

'67#
'67#
'6S# Sep. '68j

8,84

Aug.

'67#

8,85,97
85
85
85

May
May
May
May

8,85

June
June
Juno
Juno

8,34
8,84
8,84

84

'69
'69
'69
'69

May
May
May
May

'69
'69
'69
'69

C2. Diffusion Indexes

level of inventories, mfg, and trade
Selling prices, mfg. and trade
Selling prices, manufacturing
Selling prices, wholesale trade
Selling prices, retail trade

D61 . Bus. expend., new plant and equip*
D480. Freight carloadings
480. Change in freight carloadings
D. OTHER KEY INDICATORS
D1. Foreign Trade
500 Merchandise trade balance . .
502. Exports, excluding military aid
506. Export orders, durable goods except
motor vehicles
508. Export orders, nonelectrical machinery . .
512. General imports

46
46
46
.46
46

D2. Balance of Payments and Components
520. U.S. balance of payments, liquidity
balance basis
522. U.S. balance of payments, official
settlements basis
525. Net capital movements, liquidity balance
basis
527. Net capital movements, official settlements
basis
«.
*
250 Balance on goods and sfcrvices

May
May

'68#

Aug.

'69
May '69

May

Aug.
Apr.

8,82

July '69 May

47

8,82

July '69 May '69

47

82

July '69 May '69

47
13,47

82
5,66,82

July '69 May '69
July '69 May '69

48

82

July '69 May '69

48
48
13,49
13,49

82
82
82
82

July
July
July
July

49
49

82
82

July '69 May '69
July '69 May '69

49

82

July '69 May '69

49
50
, 50

82
83
83

July '69 May '69
July '69 May '69
July '69 May '69

Payments by U.S. travelers abroad
50
Receipts from foreigners in U.S
50
U.S. military expenditures abroad
50
Military sales to foreigners
50
Receipts, transportation and services .... 50
Payments, transportation; and services . . .50

83
83
83
83
83
83

534 U S official reserve assets
252. Exports of goods and services
536. Merchandise exports, adjusted
537. Merchandise imports adjusted
540. Investment income, military sales, and
services, exports
541. Foreigner investment income, military
expend., and services, imports
543. Income on foreign investments in U.S

561.
560.
565.
564.
570.
575.

8,81
8,81
8,81

May '69
May '69

U.S. direct investments gbroad
51
Foreign direct investments in U.S
51
U.S. purchases of foreign securities
51
Foreign purchases of U.S. securities
51
Gov. grants and capital transactions
51
Banking and other capital transactions . . 51
.

D3. Federal Government Activities
600. Fed. balanc^nat'l income and prod. acct. .
601. Fed. receipts, nat'l income and prod. acct.
602. Fed. expend,, nat'l income and prod. acct.
264. National defense purchases

52
52
52
14,53

July
July
July
' July
July
July

'69
'69
'69
'69

'69
'69
'69
'69
'69
'69




May
May
May
May
May
May

83
83
83
83
83
83

July
July
July
July
July
July

'69
'69
'69
'69
'69
'69

May
May
May
May
May
May

8,84
8,84
8,84

July
July
July
July

'69
'69
'69
'68#

July
July
July
July

8,66,84

*Series preceded by an asterisk (*) are on the 1966 NBER "short iist" of indicators.

114

May
May
May
May

'69
'69
'69
'69

'69
'69
'69
'£#
'69
'69
'69
'69
'69
'69
'69
'69

'68#
'68#
'68#
'6S#

85,74
85
85

'69
'69
'69
'69

Juno
June
Juno
Juno

'69
'69
'69
'69

E. ANALYTICAL MEASURES
£1. Actual and Potential GNP
205= Actual GNP in 1958 dollars
206 Potential GNP in 1958 dollars
207= GNP gap (potential less actual)

9, 21 ,38,56 6,64*70,86 July '68# July '68#
56
86
56
5,86

E2. Analytical Ratios
850. Ratio, output to capacity, manufacturing . .57
851. Ratio, inventories to sales, mfg, and trade. 57
852: Ratio, unfilled orders to shipments,
durables
57
853, Ratio, prod, of bus. equip, to consumer
goods
57
'69
854. Ratio, personal saving to disposable
'69
58
personal income
855. Ratio, nonagriculturat job openings
'68#
unfilled to persons unemployed
58
858. Output per man-hour, total private nonfarm. 58
'69
856. Real avg. hourly earnings, prod, workers. . 58
859. Real spendable average weekly earnings,
nonagri. production or nonsupv. workers . 58
857. Vacancy rate, total rental housing
58
'69

47

530 Liquid liabilities to foreigners
532. Liquid and nonliquid liabilities to foreign

545.
544.
547.
546.
548.
549.

8,81
8,81

?50\ Wholesale price index, all commodities , . . 55
f\S U/hnlocnlp nrirp inripy mfrl onnd^
29,55
751. Wholesale price index, proc. foods, feeds . 55
752 Wholesale price index farm products
55

E3. Diffusion Indexes
Dl. Average workweek, prod, workers, mfg . . §9
.
D6. New orders, durable goods industries .... 59
Dll. New capital appropriations, mfg
59
D34. Profits, manufacturing
59
D19. Stock prices, 500 common stocks
59
D23. Industrial materials prices
59
05. Initial claims, State unemploy. insurance . 59
D41.
D47.
D58.
D54

60
Employees on nonagri. payrolls
60
Industrial production
Wholesale prices, manufactured goods — 60
Sales of retail stores
... 60

8,87
8,87

July '67
May '69

Sfcb. '69

8,87

Sop.

'68

Sop. '68

'68

'lev . ' 68

8,87

Doe.

8,87

July '69

M?

Mar.
Sep.

'69
'68

July '68

June '68

fung ' 68
fun© J68

8,87
8,87

June »68

iFune '68

Feb.

'68

88,91
88,91
88
89
89,92
89,93
89,93

Sep.
Oct.
Aug.
Oct.
Apr.
Apr.
Apr.

'68
'68
'67
'64
'69
'69
'69

90,94
90,94
90,95
90,96

Sep.
Dec.

'68
'68

Apr.

'65

8,87
0,87

Juno '69

• lay '69
Apr.
'69

i?uno '69

• I'une '69

F. INTERNATIONAL COMPARISONS
Fl. Consumer Price Indexes
781 United States
133 Canada
.« .
132. United Kingdom
,
135. West Germany
136. France
138 Japan
137. Italy

54,61
61
61
61
61
61
61

85,97
97
97
97
97
97
97

May '68#
Oct. '67
Oct. '67
Oct. '6?
Oct. '67
Get. '67
Oct. '67

F2. Industrial Production Indexes
47 United States
123 Canada
122. United Kingdom
126. France
125 West Germany
128. Japan
121 OECD European countries
127. Italy

21,33,62
62
62
62
62
62
62
62

70,98
98
98
98
98
98
96
98

Dee.

F3. Stock Price Indexes
19 United States
143 Canada
142 United Kingdom
146. France
145. West Germany
148. Japan
147. Italy

28,37,63
63
63
63
63
63
63

74,99
99
99
99
99
99
99

#The "number" for this series title was changed since the publication date shown.

'68

July '67
Nov.
Nov.

(

67
'67

June '68
Apr.

'68

Juno '68
Nov.

'6?

Mar.
Oct.
Oct.
Oct.
Get.
Get.
Oct.

'68
'67
'67
'67
'67
'67
'67

Ibv, '68

Titles and Sources of Series
Within eiich of the six sections, series are listed in numerical order.
The numbers assigned to the series are for identification purposes
only and do not reflect series relationships or order. "NT indicates
monthly series; "Q" indicates quarterly series. Data apply to the
whole pwiod except for series designated by "EOM" (end of the
month) or "EOQ" (end of the quarter).
The alphabetic-numeric dedications following the series titles indicate all charts and tables in which the series may be found. See the
table of contents for chart and table titles and Series Finding Guide
for page numbers. The series in section B preceded by an asterisk
(*) are iicluded in the 1966 NBER "short list" of indicators, chart
Btt. Unless otherwise indicated, all series which require seasonal
adjustment have been adjusted by their source.
The "D" preceding a number indicates a diffusion index. Diffusion
indexes and corresponding aggregate series bear the same number and
are obtained from the same sources.

A National Income and Product
200. Gross national product in current dollars (Q). -- Department of
Commerce, Office of Business Economics
(Al, B2, B8)
205. Gross national product in 1958 dollars (Q). - Department of
Conmerce, Office of Business Economics
(Al, B2, B8, El)
210. Implicit price deflator, gross national product (Q). • • Department of Commerce, Office of Business Economics
(Al)
215. Per capita gross national product in current dollars (Q). -Department of Commerce, Office of Business Economics and
Bureau of the Census
(Al)
217. Per capita gross national product in 1958 dollars (Q). -- Department of Commerce, Office of Business Economics and Bureau
of tie Census
(Al)
220. National income in current dollars (Q). -- Department of Commerce, Office of Business Economics
(A2)
222. Personal income in current dollars (Q). -- Department of Commetce, Office of Business Economics
(A2)
224. Disposable personal income in current dollars (Q). -- Department
of Commerce, Office of Business Economics
(A2)
225. Di sposable personal income in 1958 dollars (Q). - Department
of Commerce, Office of Business Economics
(A2)
226. Per capita disposable personal income in current dollars (Q). -Department of Commerce, Office of Business Economics (A2)
227. Per capita disposable personal income in 1958 dollars (Q). -Department of Commerce, Office of Business Economics (A2)
230. Personal consumption expenditures, total, in current dollars
(Q). -- Department o'f Commerce, Office of Business Economics
(A3)
231. Personal consumption expenditures, total, in 1958 dollars (Q). Department of Commerce, Office of Business Economics (A3)
232. Personal consumption expenditures, durable goods, in current
dcliars (Q). -• Department of Commerce, Office of Business
Economics
(A3)

244. Gross private domestic fixed investment, residential structures
(Q). -- Department of Commerce, Office of Business Economics
(A4)
245. Gross private domestic investment, change in business inventories after valuation adjustment, all industries (Q). - Department of Commerce, Office of Business Economics
(A4, B4)
250. Balance on goods and services, excluding transfers under
military grants (Q). -- Department of Commerce, Office of
Business Economics
(A5, D2)
252. Exports of goods and services, excluding transfers under
military grants (Q). -- Department of Commerce, Office of
Business Economics
(A5, D2)
253. Imports of goods and services (Q). -- Department of Commerce,
Office of Business Economics
(A5, D2)
260. Government purchases of goods and services, total (Q). -Department of Commerce, Office of Business Economics (A6)
262. Federal Government purchases of goods and services, total
(Q). -- Department of Commerce, Office of Business Economics
(A6)
264. Federal Government purchases of goods and services, national
defense (Q). -- Department of Commerce, Office of Business
Economics
(A6, D3)
266. State and local government purchases of goods and services,
total (Q). -- Department of Commerce, Office of Business
Economics
(A6)
270. Final sales, durable goods (Q). -- Department of Commerce,
Office of Business Economics
(A7)
271. Change in business inventories, durable goods (Q). -Department of Commerce, Office of Business Economics
(A7)
274. Final sales, nondurable goods (Q). -- Department of Commerce,
Office of Business Economics
(A7)
275. Change in business inventories, nondurable goods (Q).- Department of Commerce, Office of Business Economics
(A7)
280. Compensation of employees (Q).
Office of Business Economics

Department of Commerce,
(A8)

282. Proprietors' income (Q). • Department of Commerce, Office of
Business Economics
(A8)
284. Rental income of persons (Q). --Department of Commerce, Office
of Business Economics
(A8)
286. Corporate profits and inventory valuation adjustment (Q). -Department of Commerce, Office of Business Economics (A8)
288. Net interest (Q). -- Department of Commerce, Office of Business
Economics
(A8)
290. Gross saving -- private saving plus government surplus on
deficit (Q). -- Department of Commerce, Office of Business
Economics
(A9)

233. Personal consumption expenditures, durable goods except
aitomobiles, in current dollars (Q). -- Department of Commerce,
Office of Business Economics
(A3)

Department of Commerce, Office of
(A9)
294. Undistributed corporate profits plus inventory valuation adjustment (Q). -- Department of Commerce, Office of Business
Economics
(A9)

234. Personal consumption expenditures, automobiles, in current
dollars (Q). -- Department of Commerce, Office of Business
Economics
(A3)

296. Capital consumption allowances, corporate and noncorporate
(Q). -- Department of Commerce, Office of Business Economics
(A9)

236. Personal consumption expenditures, nondurable goods, in
current dollars (Q). -- Department of Commerce, Office of
Business Economics
(A3)

298. Government surplus or deficit, total (Q). - Department of
Commerce, Office of Business Economics
(A9)

237. Personal consumption expenditures, services, in current
dollars (Q). - Department of Commerce, Office of Business
Economics
(A3)
240. Gross private domestic investment, total (Q). -- Department of
Commerce, Office of Business Economics
(A4)
241. Glross private domestic fixed investment, total nonresidential
(Q). — Department of Commerce, Office of Business Economics
(A4)
242. Cross private domestic fixed investment, nonresidential structures (Q). -- Department of Commerce, Office of Business
Economics
(A4)
243. Cross private domestic fixed investment, producers' durable
equipment (Q). -- Department of Commerce, Office of Business
Economics
(A4)




292. Personal saving (Q).
Business Economics

B Cyclical Indicators
*1. Average workweek of production workers, manufacturing (HI). Department of Labor, Bureau of Labor Statistics
(Bl, B8, E3, E4)
2. Accession rate, manufacturing (Iff).
Bureau of Labor Statistics

Department of Labor,
(Bl)

3. Layoff rate, manufacturing (Iff), • Department of Labor, Bureau
(Bl)
of Labor Statistics
*4. Nonagricultural placements, all industries (riff). -- Department
of Labor, Bureau of Employment Security; seasonal adjustment by Bureau of the Census
(Bl, B8)

5. Average weekly initial claims for unemployment insurance,
State programs (M). •• Department of Labor, Bureau of Employment Security; seasonal adjustment by Bureau of the Census
(Bl, E3, E4)
*6. Value of manufacturers1 new orders, durable goods industries
(M). --Department of Commerce, Bureau of the Census
(B3, B8, E3, E4)
7. New private nonfarm housing units started (M). -- Department
of Commerce, Bureau of the Census
(B3)
8. Index of construction contracts, total value (M). - McGrawHill Information Systems Company. (Used by permission.
This series may not be reproduced without written permission
from trie source.)
(B3)
9. Construction contracts awarded for commercial and industrial
buildings, floor space (M). - McGraw-Hill Information Systems
Company; seasonal adjustment by Bureau of the Census and
National Bureau of Economic Research, Inc. (Used by permission. This series may not be reproduced without written
permission from the source.)
(B3)
*10. Contracts and orders for plant and equipment (M). - Department of Commerce, Bureau of the Census, and McGraw-Hill
Information Systems Company; seasonal adjustment by Bureau
of the Census and National Bureau of Economic Research,
Inc.
(B3, B8)
11. Newly approved capital appropriations, 1,000 manufacturing
corpo'rations (Q). - National Industrial Conference Board (B3,E3)
*12. Index of net business formation (M). •- Dun and Bradstreet,
Inc., and Department of Commerce, Bureau of the Census; seasonal adjustment by Bureau of the Census and National Bureau
of Economic Research, Inc.
(B3t B8)
13. Number of new business incorporations (M). -- Dun and Bradstreet, Inc.; seasonal adjustment by Bureau of the Census and
National Bureau of Economic Research, Inc.
(B3)
14. Current liabilities of business failures (M). - Dun and Bradstreet, Inc.
(B6)
15. Profits (after taxes) per dollar of sales, all manufacturing
corporations (Q). -- Federal Trade Commission and Securities
and Exchange Commission; seasonal adjustment by Bureau of
the Census
(B5)
*16. Corporate profits after taxes (Q)
Office of Business Economics

• Department of Commerce,
(B5, 88)

*17. Index of price per unit of labor cost -- ratio, index of
wholesale prices of manufactured goods (unadjusted) to
seasonally adjusted index of compensation of employees
(sum of wages, salaries, and supplements to wages and
salaries) per unit of output (M). - Department of Commerce,
Office of Business Economics; Department of Labor, Bureau
of Labor Statistics; and Board of Governors of the Federal
Reserve. System
(B5, B8)
*19. Index of stock prices, 500 common stocks (M). - Standard and
Poor's Corporation
(B5,B8,l3tE4, F3)
20. Change in book value of manufacturers' inventories of materials
and supplies (M). - Department of Commerce, Bureau of the
the Census
(84)
22. Ratio of profits (after taxes) to income originating, corporate,
all industries (Q). •- Department of Commerce, Office of Business Economics
(85)
*23. Index of industrial materials prices (M). -- Department of Labor,
Bureau of Labor Statistics
(B5, B8, E3, E4)
24. Value of manufacturers' new orders, machinery and equipment
industries (M). -- Department of Commerce, Bureau of the
Census
(B3)
25. Change in manufacturers' unfilled orders, durable goods industries (M). -- Department of Commerce, Bureau of the Census
(B4)
26. Buying policy - production materials, percent of companies
reporting commitments 60 days or longer (M). -- National
Association of Purchasing Management
(B4)
*29. Index of new private housing units authorized by local building
permits (M). -- Department of Commerce, Bureau of the Census
(B3, B8)
*31. Change .in book value of manufacturing and trade inventories,
total (M)'. -- Department of Commerce, Office of Business Economics and Bureau of the Census
(84, B8)
Continued on reverse

115

Titles and Sources of Series
(Continued from page 115)
32. Vendor performance, percent of companies reporting slower
deliveries (M). •• Chicago Purchasing Agents Association
(B4)
33. Net change in mortgage debt held by financial institutions
and life insurance companies (M). •• Institute of Life Insurance, Department of Housing and Urban Development, Federal
National Mortgage Association, National Association of
Mutual Savings Banks, U.S. Savings and Loan League, and
Board of Governors of the Federal Reserve System; seasonal
adjustment by Bureau of the Census
•
(B6)
37. Percent of companies reporting higher inventories of purchased materials (M). •• National Association of Purchasing
Management; seasonal adjustment by Bureau of the Census
(B4)
39. Percent of consumer installment loans delinquent 30 days and
over (EOM). -- American Bankers Association; seasonal adjustment by Bureau of the Cen$ys and National Bureau of Economic
Research, Inc. (Bimonthly since December 1964)
(B6)
40. Unemployment rate, married males, spouse present (M). *Department of Labor, Bureau of Labor Statistics, and Department of Commerce, Bureau of the Census
(Bl)
*41. Number of employees on nonagr(cultural payrolls, establishment
survey (M). -• Department of Labor, Bureau of Labor Statistics
(Bl, B8, E3, E4)
42. Total number of persons engaged in nonagricultural activities,
labor force survey (M). - Department of Labor, Bureau of Labor
Statistics, and Department of Commerce, Bureau of the Census

(Bl)

*43. Unemployment rate, total (M). - Department of Labor, Bureau
of Labor Statistics, and Department of Commerce, Bureau of
the Census
(81, 88)
"44. Unemployment rate, 15 weeks and over (M). - Department of
Labor, Bureau of Labor Statistics, and Department of Commerce,
Bureau of the Census
(Bl, B8)
45 Average weekly insured unemployment rate, State programs
(M). — Department of Labor, Bureau of Employment Security(Bl)
46. Index of help-wanted advertising in newspapers (M). -- National
Industrial Conference Board
(Bl)
*47, Index of industrial production (M). - Board of Governors of the
(B2, B8, E3, E4, F2)
Federal Reserve System
48. Man-hours in nonagricultural establishments (M). -- Department
of Labor, Bureau of Labor Statistics
(Bl)
49. Nonagricultural job openings unfilled (EOM). -- Department of
Labor, Bureau of Employment Security; seasonal adjustment by
Bureau of the Census
(Bl)
*52. Personal income (M). •- Department of Commerce, Office of
Business Economics
(B2, B8)
53. Wage and salary income in mining, manufacturing, and construction (M). -- Department of Commerce, Office of Business Economics
(B2)
*54. Sales of retail stores (M). -- Department of Commerce, Bureau
of the Census
(82,88, E3, E4)
55. Index of wholesale prices, industrial commodities (M).- Depart*
ment of Labor, Bureau of Labor Statistics
(B5)
"56. Manufacturing and trade sales (M). <•- Department of Commerce,
Office of Business Economics and Bureau of the Census
(82, B8)
57. Final sales (series 200 minus series 245) (Q). -- Department of
Commerce, Office of Business Economics
(82)
58. Index of wholesale prices, manufactured goods (M). •» Department of Labor, Bureau of Labor Statistics
(B5, D4, E3, E4)
"61. Business expenditures for new plant and equipment, total (Q).-Department of Commerce, Office of Business Economics, and
the Securities and Exchange Commission
(B3, B8, Cl, C2)
*62, Index of labor cost per unit of output, total manufacturing - ratio, index of compensation of employees in manufacturing
(the sum of wages and salaries and supplements to wages
and salaries) to index of industrial production, manufacturing
(M). -- Department of Commerce, Office of Business Economics,
and the Board of Governors of the Federal Reserve System
(B5,~B8)
65. Manufacturers' inventories of finished goods, book value, all
manufacturing industries (EOM). --• Department of Commerce,
Bureau of the Census
(B4)
66. Consumer installment debt (EOM). - Board of Governors of the
Federal Reserve System. FRS seasonally adjusted net change
added to seasonally adjusted figure for previous month to obtain
current figure
(B6)
"67. Bank rates on short-term business loans, 35 cities (Q). -Board of Governors of the Federal Reserve System
(86, B8)

116




68. Labor cost (current dollars) per unit of gross product (1958
dollars), nonfinancial corporations -- ratio of current-dollar
compensation of employees to gross corporate product in
1958 dollars (Q). -- Department of Commerce, Office of
Business Economics
(B5)
69. Manufacturers' machinery and equipment sales and business
construction expenditures (industrial and commercial construction put in place) (M). -- Department of Commerce, Bureau of
the Census
(B3)
*71. Manufacturing and trade inventories, total book value (EOM). -Department of Commerce, Office of Business Economics and
Bureau of the Census
(B4, 88)
"72. Commercial and industrial loans outstanding, weekly reporting
large commercial banks (EOM). *- Board of Governors of the
Federal Reserve System; seasonal adjustment by Bureau of
the Census
(86, B8)
85. Percent change in total U.S. money supply (demand deposits
plus currency) (M). -- Board of Governors of the Federal
Reserve System
(B6)
93. Free reserves (member bank excess reserves minus borrowings) (M). -- Board of Governors of the Federal Reserve System
(B6)
96. Manufacturers' unfilled orders, durable goods industries
(EOM). -- Department of Commerce, Bureau of the Census (83)
97. Backlog of capital appropriations, manufacturing (EOQ). -National Industrial Conference Board
(83)
98. Percent change in total U.S. money supply (demand deposits
plus currency) and commercial bank time deposits (M). -Board of Governors of the Federal Reserve System
(B6)
110. Total funds raised by private nonfinancial borrowers in credit
markets (Q). -- Board of Governors of the Federal Reserve
System
(B6)
112. Net change in bank loans to businesses (M). -- Board of
Governors of the Federal Reserve System; seasonal adjustment by Bureau of the Census
(B6)
*113. Net change in consumer installment debt (M). - Board of
Governors of the Federal Reserve System
(B6, B8)
114. Discount rate on new issues of 91-day Treasury bills (M). -Board of Governors of the Federal Reserve System
(B6)
115. Yield on long-term Treasury bonds (M). - Treasury Department
(86)
116. Yield on new issues of high-grade corporate bonds (M). -- First
National City Bank of New York and Treasury Department'(B6)
117. Yield on municipal bonds, 20-bond average (M). -- The Bond
Buyer
(B6)
118. Secondary market yields on FHA mortgages (M). -- Department
of Housing and Urban Development, Federal Housing Administration
(B6)
"200. Gross national product in current dollars (Q). See in section A.
*205. Gross national product in 1958 dollars (Q). See in section A.
245. Change in business inventories (GNP component) (Q). See
in section A.
810. Twelve leading indicators -- reverse trend adjusted composite
index (includes series 1, 4, 6, 10, 12, 16, 17, 19, 23, 29, 31,
and 113) (M). -- Department of Commerce, Bureau of the Census
(87)
813. Marginal employment adjustments -- leading composite index
(includes series 1, 4, and 5) (M). -- Department of Commerce,
Bureau of the Census
(B7)
814. Capital investment commitments -• leading composite index
(includes series 6, 10, 12, and 29) (M). -• Department of
Commerce, Bureau of the Census
(87)
815. Inventory investment and purchasing -- leading composite
index (includes series 23, 25, 31, and 37) (M), -- Department
of Commerce, Bureau of the Census
(B7)
816. Profitability - leading composite index (includes series 16,
17, and 19) (M). - Department of Commerce, Bureau of the
Census
(B7)
817. Sensitive financial flows -- leading composite index (includes
series 33, 85,112, and 113) (M). » Department of Commerce,
Bureau of the Census
(B7)
820. Five coincident indicators -- composite index (includes series
41, 43, 47, 52, and 56) (M). -- Department of Commerce, Bureau
of the Census
(B7)
830. Six lagging indicators -- composite index (includes series 44,
61, 62, 67, 71, 72) (M). -- Department of Commerce, Bureau of
the Census
(B7)

C Anticipations and Intentions
61. Business expenditures for new plant and equipment, all industries (Q). See in section B.

410. Manufacturers' sales, total value (Q). -- Department of Commerce, Bureau of the Census and Office of Business l.conomics

(Cl)

412. Manufacturers' inventories, total book value (EOQ). - Department of Commerce, Bureau of the Census and Office of Business Economics
(Cl)
414. Percent of total book value of inventories held by manufacturers classifying their holdings as high, less perctmt classifying holdings as low (Q). -- Department of Commerce, Office
of Business Economies
'
(Cl)
416. Percent of total gross capital assets held by companies classifying their existing capacity as inadequate for pospectlve
operations over the next 12 months, less percent classifying
existing capacity as excessive (Q). -- Departmen of Commerce, Office of Business Economics
(Cl)
420. Current income of households compared to income; year ago
(percent higher, lower, and unchanged) (Q). -•> Department of
Commerce, Bureau of the Census
(Cl)
425. Mean probability (average chances in 100) of substantial
° changes (increase, decrease, and increase less decease) in
income of households (Q). -- Department of Comnien e, Bureau
of the Census
(Cl)
430. Number of new cars purchased by households (Q).*- Upartrneot
of Commerce, Efureau of the Census
(Cl)
435. Index of consumer sentiment (Q).
Survey Research Center

University of Michigan,
(Cl)

0440. New orders, manufacturing (Q). - Dun and Brads feet, Inc.
(Used by permission. This series may not be reproduced without written permission from the source.)
(C2)
D442. Net profits, manufacturing and trade (Q). - Dun and Eradstreet,
Inc. (Used by permission, This series may not be reproduced
without written permission from the source.)
(C2)
D444. Net sales, manufacturing and trade (Q). -- Dun arid I radstreet,
Inc, (Used by permission. This series may not be reproduced
without written permission from the source.)
(C2)
D446. Number of employees, manufacturing and trade (Q). • Dun and
Bradstreet, Inc. (Used by permission. This series n ay not be
reproduced without written permission from the source) (C?,)
D450. Level of inventories, manufacturing and trade (Q). - Dun and
Bradstreet, Inc, (Used by permission. This series n-ay not be
reproduced without written permission from the source,!) (C2)
D460. Selling prices, manufacturing and trade (Q). - Dun iind Brad
street, Inc. (Used by permission. This series m.iy not be
reproduced without written permission from the source,:* (C2)
D462. Selling prices, manufacturing (Q). -• Dun and Bradst'eet, Inc.
(Used by permission. This series may not be reprodieed without written permission from the source.)
(C2)
D464. Selling prices, wholesale trade (Q). -- Dun and B adstreet,
Inc. (Used by (permission. This series may not be nip reduced
without written permission from the source.)
(C2)
0466. Selling prices, retail trade (Q). - Dun and Sradsteet, Inc.
(Used by permission. This series may not be reproduced without written permission from the source.)
(C2)
D480. Freight carloadings (Q). •- Association of American tailroads

(C2)
480. Change in freight carloadings (Q). -• Association of American
railroads
(C2)

D Other Key Indicators
58. Index of wholesale prices, manufactured goods (M). See in
section 8,
250. Balance on goods and services, excluding transfers under
military grants: U.S. balance of payments (Q). - See in
section A,
252. Exports of goods and services, excluding transfers urtier military grants; U.S. balance of payments (Q). -- See ii section
A.

253. Imports of goods and services:
(Q).--See in section A.

U.S. balance of i ayments

264. Federal Government purchases of goods and services, national
defense (Q).--See in section A.
500. Merchandise trade balance (Series 502 minus series 5)2) (M),-Department of Commerce, Bureau of the Census
(01)
502. Exports, excluding military aid shipments, total (M). - Department of Commerce, Bureau of the Census
(Dl)

Titles and Sources of Series

561. U.S. direct investments abroad: U.S. balance of payments (Q). -Department of Commerce, Office of Business Economics (02)

(Continued from page 116)

564. Foreign purchases of U.S. securities: U.S. balance of payments (Q). -• Department of Commerce, Office of Business
Economics
(02!)

506. Manufacturer!;' new orders for export, durable goods except
motor vehicles and parts (M). -- Department of Commerce,
Bureau of the Census
(Dl)

565. U.S. purchases of foreign securities: U.S. balance of payments (Q). •- Department of Commerce, Office of Business
Economics
(02)

508. Index of export orders for nonelectrical machinery (M). -McGraw-Hill, Department of Economics; seasonal adjustment by
Bureau of the Census
(Dl)

570. Government grants and capital transactions, net: U.S. balance
of payments (Q). -- Department of Commerce, Office of Business Economics
(02)

512. General imports, total (M). •- Department of Commerce, Bureau
of the Census
(Dl)

575. Banking and other capital transactions, net: U.S. balance of
payments (Q). •- Department of Commerce, Office of Business
Economics
(02)

520. U.S. balance iof payments on liquidity balance basis (change in
U.S. official reserve assets and change in liquid liabilities to
all foreigner's) (Q). -- Department of Commerce, Office of
Business Economics
(D2)
522. U.S. balance of payments on official settlements basis (change
in U.S. official reserve assets, and change in liquid and
certain nonttiquid liabilities to foreign monetary official
agencies) (Q). -- Department of Commerce, Office of Business
Economics
(D2)
525. Net capital movements (plus unilateral transfers - except
military grants -- and errors and omissions) on liquidity
balance basis: U.S. balance of payments (Q). -- Department of
Commerce, Office of Business Economics
(D2)
527. Net capital movements (plus unilateral transfers - except
military grants -- and errors and omissions) on official settlements basis: U.S. balance of payments (Q). -- Department of
Commerce, Office of Business Economics
(D2)
530. Liquid liabilities (excluding military grants) to all foreigners,
total outstanding: U.S. balance of payments (EOQ). -- Department of Comrrjerce, Office of Business Economics
(D2)
532. Liquid and certain nonliquid liabilities (excluding military
grants) to foreign official agencies, total outstanding: U.S.
balance of payments (EOQ). -- Department of Commerce, Office
of Business Economics
(D2)
534. U.S. officiali reserve (assets) position, excluding military
grants: U.S. balance of payments (EOQ). -- Department of
Commerce, Office of Business Economics
(02)

600. Federal Government surplus or deficit, national income and
product accounts (Q). -- Department of Commerce, Office of
Business Economics
(03)
601. Federal Government receipts, national income and product
accounts (Q).-- Department of Commerce, Office of Business
Economics
(03)
602. Federal expenditures, national income and product accounts
(Q). -- Department of Commerce, Office of Business Economics
(D3)

616. Defense Department obligations incurred, total, excluding
military assistance (M). •- Department of Defense, Fiscal
Analysis Division; seasonal adjustment by Bureau of the
Census
(03)
621. Defense Department obligations incurred, procurement (M). -•
Department of Defense, Fiscal Analysis Division; seasonal
adjustment by Bureau of the Census
(D3)
625. Military prime contract awards to U.S. business firms and
institutions (M). -- Department of Defense, Directorate for
Statistical Services; seasonal adjustment by Bureau of the
Census
(03)
647. New orders, defense products industries (M). -- Department of
Commerce, Bureau of the Census
(D3)

(D2)

543. Income on foreign investments in the U.S.: U.S. balance of payments (Q). -- Department of Commerce, Office of Business
Economics
(D2)

781. Index of consumer prices (M). -- Department of Labor, Bureau
of Labor Statistics
(D4, Fl)
782. Index of consumer prices, food (M). -- Department of Labor,
Bureau of Labor Statistics
(D4)
783. Index of consumer prices, commodities less food (M). •• Department of Labor, Bureau of Labor Statistics
(04)
784. Index of consumer prices, services (M). -- Department of Labor,
Bureau of Labor Statistics
(04)

E Analytical Measures

544. Receipts from foreign travelers in the U.S.: U.S. balance of
payments (QJ. -- Department of Commerce, Office of Business
Economics ;
(02)

205. Gross national product in 1958 dollars (Q). See in section A.

545. Payments by U.S. travelers abroad: U.S. balance of payments
(Q). -- Department of Commerce, Office of Business Economics

207. Gap -- the potential GNP (series 206) less the actual GNP
(Series 205) (Q). -- Council of Economic Advisers
(El)

(D2)

546. Military sales to foreigners: U.S. balance of payments (Q). •Department of Commerce, Office of Business Economics (02!)
547. U.S. military expenditures abroad: U.S. balance of payments
(Q). -- Department of Commerce, Office of Business Economics

206. Potential level of gross national product in 1958 dollars (Q). • •
Council of Economic Advisers
(El)

850. Ratio, output to capacity, manufacturing (Q). -- Board of Governors of the Federal Reserve System, Department of Commerce,
and McGraw-Hill Economics Department
(EZ)

(02)

851. Ratio, inventories (series 71) to sales (series 56), manufacturing and trade total (M). •- Department of Commerce Office
of Business Economics
(E2)

548. Receipts for transportation and other services: U.S. balance
of payments (Q). -- Department of Commerce, Office of Business
Economics
(02)

852. Ratio, unfilled orders (series 96) to shipments, manufacturers'
durable goods (M). -- Department of Commerce, Bureau of the
Census
(E2)

;

549. Payments for transportation and other services: U.S. balance
of payments (Q).-- Department of Commerce, Office of Business
Economics
(02)
1)60. Foreign direct investments in the U.S.: U.S. balance of payments (Q). -- Department of Commerce, Office of Business
Economics
(D2)




859. Real spendable average weekly earnings of production or nonsupervisory workers (with 3 dependents) on private nonagricultural payrolls, 1957-59 dollars (M). -- Department of Labor,
Bureau of Labor Statistics
(E2)

The "0" preceding a number indicates a diffusion index. Diffusion
indexes and corresponding aggregate series bear the same number
and are obtained from the same sources. See section B for titles
and sources of Dl, 05, 06, Oil, D19, D23, 041, 047, D54, D58, 061,
and section C for D440, D442, D444, D446, D450, D460, D462, D464,
D466, and D480. Sources for other diffusion indexes are as follows:
034. Profits, manufacturing, FNCB (Q). •- First National City Bank
of New York; seasonal adjustment by Bureau of the Census
and National Bureau of Economic Research, Inc.
(E3)

F International Comparisons
19. United States, index of stock prices, 500 common stocks (M).
See in section B.
47. United States, index of industrial production (M). See in
section B.

122. United Kingdom, index of industrial production (M) -- Central
Statistical Office (London)
(F2)

752. Index of wholesale prices, farm products (M). •- Department of
Labor, Bureau of Labor Statistics
(D4)

542. Income on U.S. investments abroad: U.S. balance of payments
(Q). -• Department of Commerce, Office of Business Economics

858. Index of output per man-hour, total private nonfarm (Q). -Department of Labor, Bureau of Labor Statistics
(E2)

750. Index of wholesale prices, all commodities (M). -- Department
of Labor, Bureau of Labor Statistics
(04)

537. Merchandise imports, adjusted, excluding military: U.S. balance
of payments (Q).-- Department of Commerce, Office of Business
Economics
(D2)

541. Foreigners' investment income, military expenditures and other
services imports: U.S. balance of payments (Q). -- Department
of Commerce,; Office of Business Economics
(02)

857. Vacancy rate in rental housing -- unoccupied rental housing
units as a percent of total rental housing (Q). -• Department
of Commerce, Bureau of the Census
(E2)

121. Organization for Economic Cooperation and Development,
European Countries, index of industrial production (M). -Organization for Economic Cooperation and Development
(Paris)
(F2)

751. Index of wholesale prices, processed foods and feeds (M). -Department of Labor, Bureau of Labor Statistics
(04)

(D2)

856. Real average hourly earnings of production workers in manufacturing, 1957-59 dollars (M), •- Department of Labor, Bureau
of Labor Statistics
(E2)

648. New orders, defense products (M). -- Department of Commerce,
Bureau of the Census
(03)

536. Merchandise exports, adjusted, excluding military grants: U.S.
balance of payments (Q). •• Department of Commerce, Office of
Business Economics
(D2)

540. U.S. investment income, military sales, and other services
exports, excluding military grants: U.S. balance of payments
(Q). -- Department of Commerce, Office of Business Economics

855. Ratio, nonagricultural job openings unfilled (series 49) to
number of persons unemployed (M). -- Department of Labor,
Bureau of Employment Security and Bureau of Labor Statistics; and Department of Commerce, Bureau of the Census (E2)

853. Ratio, production of business equipment to production of
consumer goods (M). -- Board of Governors of the Federal
Reserve System. (Based upon components of the Federal
Reserve index of industrial production.)
(E2)
854. Ratio, persona) saving to disposable personal income (series
292 divided by series 224) (Q). •• Department of Commerce,
Office of Business Economics
(E2)

123. Canada, index of industrial production (M), -- Dominion Bureau
of Statistics (Ottawa)
(F2)
125. West Germany, index of industrial production (M). -• Statistisches Bundesamt (Wiesbaden); seasonal adjustment by
OECD
(F2)
126. France, index of industrial production (M). -• Institut National
del a Statist! queetdes Etudes Economiques (Paris)
(F2)
127. Italy, index of industrial production (M). -- Istituto Centrale di
Statistica(Rome)
(F2)
128. Japan, index of industrial production (M). -• Ministry of International Trade and Industry (Tokyo)
(F2)
132. United Kingdom, index of consumer prices (M). •- Ministry of
Labour (London)
(Fl)
133. Canada, index of consumer prices (M). -- Dominion Bureau of
Statistics (Ottawa)
(Fl)
135. West Germany, index of consumer prices (M). -- Statistisches
Bundesamt(Wiesbaden)
(Fl)
136. France, index of consumer prices (M). •- In si tut National de la
Statistique et des Etudes Economiques (Paris)
(Fl)
137. Italy, index of consumer prices (M). -- Istituto Centrale di
Statistica(Rome)
(Fl)
138. Japan, index of consumer prices (M). -- Office of the Prime
Minister (Tokyo)
(Fl)
142.United Kingdom, index of stock prices (M). -- The Financial
Times (London)
(F3)
143. Canada, index of stock prices (M).
Statistics (Ottawa)

Dominion Bureau of
(F3)

145. West Germany, index of stock prices (M). -- Statistisches
Bundesamt(Wiesbaden)
(F3)
146. France, index of stock prices (M). -- Institut National de la
Statistique et des Etudes Economiques (Paris)
(F3)
147. Italy, index of stock prices (M). •- Istituto Centrale di Statis*
tica(Rome)
(F3)
148. Japan, index of stock prices (M). -• Tokyo Stock Exchange
(Tokyo)
(F3)
781. United States, index of consumer prices (M). See in section 0.

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