Full text of Business Conditions Digest : July 1984
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U.S. DEPARTMENT OF COMMERCE
Malcolm Baldrige, Secretary
Sidney L. Jones, Under Secretary for Economic Affairs
BUREAU OF ECONOMIC ANALYSIS
George Jaszi, Director
Allan H. Young, Deputy Director
Edward K. Smith, Associate Director for
National Analysis and Projections
Feliks Tamm, Editor
This report is prepared in the Statistical Indicators Division of the Bureau of Economic
Analysis. Technical staff and their responsibilities for the publication are—
Barry A. Beckman—Technical supervision and review
Brian D. Kajutti—Composite indexes
Betty F. Tunstall—Data collection and compilation (Phone: 202-523-0541)
The cooperation of Government and private agencies that provide data is gratefully
acknowledged. Agencies furnishing data are indicated in the list of series titles and
sources at the back of this report.
This publication is prepared under the general guidance of a technical committee consisting
of the following persons:
Ronald E. Kutscher, Acting Chairman, Bureau of Labor Statistics, U.S. Department of
Labor
Ahmad Al-Scimarrie, Office of Management and Budget
Lincoln F. Anderson, Council of Economic Advisers
John H. Auten, U.S. Department of the Treasury
Edward K. Smith, Bureau of Economic Analysis, U.S. Department of Commerce
Charles A. Waite, Bureau of the Census, U.S. Department of Commerce
Helmut F. Wendel, Board of Governors of the Federal Reserve System
ram s^s?©
BUSINESS CONDITIONS DIGEST (BCD) provides
a monthly look at many of the economic time
series found most useful by business analysts
and forecasters.
The original BCD, which began publication
in 1961 under the title Business Cycle Developments, emphasized the cyclical indicators approach to the analysis of business conditions
and prospects. The report's contents were based
largely on the list of leading, roughly coincident,
and lagging indicators maintained by the
National Bureau of Economic Research, Inc.
In 1968, BCD was expanded to increase its
usefulness to analysts using other approaches to
business conditions analysis. Principal additions
to the report were series from the national income and product accounts and series based on
surveys of businessmen's and consumers' anticipations and intentions. The composite indexes were added at that time, and the report's
present title was adopted.
The dominant feature of the current BCD is
the cyclical indicators section, in which each
business cycle indicator is assigned a three-way
timing classification according to its behavior at
peaks, at troughs, and at all turns. This section is
supplemented by a section containing other important economic measures. The method of
presentation is explained in the introductory text
which begins on page 1.
Annual subscription price: $55.00 domestic,
$68.75 foreign. Single copy price: $5.50 domestic, $6.90 foreign. Foreign airmail rates are
available on request. Address correspondence
Most of the data contained in this report
also are published by their source agencies. A
series finding guide and a complete ist of series
titles and sources can be found at the back of the
report.
Cyclical Indicators are economic time series
which have been singled out as leaders, coinciders, or laggers based on their general conformity to cyclical movements in aggregate
economic activity. In this report, cyclical indicators are classified both by economic process
and by their average timing at business cycle
peaks, at business cycle troughs,and at peaks
and troughs combined. These indicators have
been selected primarily on the basis of their
cyclical behavior, but they also have proven
useful in forecasting, measuring, and interpreting short-term fluctuations in aggregate
economic activity.
Other Economic Measures provide additional information for the evaluation of current business
conditions and prospects. They include selected
components of the national income and product
accounts; measures of prices, wages, and
productivity; measures of the labor force,
employment, and unemployment; economic
data on Federal, State, and local government activities; measures of U.S. international transactions; and selected economic comparisons with
major foreign countries.
concerning subscriptions to Superintendent of
Documents, U.S. Government Printing Office,
Washington, D.C. 20402. Make checks payable
to Superintendent of Documents.
BUSINESS CONDITIONS DIGEST
New Features and Changes for This Issue
ItCII
iii
METHOD OF PRESENTATION
Seasonal Adjustments
MCD Moving Averages
Reference Turning Dates
Part I. Cyclical Indicators
Part II. Other Important Economic Measures
How To Read Charts
How To Locate a Series
Summary of Recent Data and Current Changes
1
1
1
1
4
5
5
6
JULY 1 9 8 4
Data Through June
Volume 24, Number 7
PART I.
CYCLICAL INDICATORS
Al
A2
A3
A4
COMPOSITE INDEXES AND
THEIR COMPONENTS
Chart
Table
Composite Indexes
Leading Index Components
Coincident Index Components
Lagging Index Components
10
12
14
15
60
—
—
—
16
19
21
23
26
28
31
61
63
64
65
68
69
71
36
—
39
74
77
—
CYCLICAL INDICATORS
BY ECONOMIC PROCESS
J32
B4
B6
B7
Employment and Unemployment
Production and Income
Consumption, Trade, Orders, and Deliveries
Fixed Capital Investment
Inventories and Inventory Investment
Prices, Costs, and Profits
Money and Credit
DIFFUSION INDEXES
AND RATES OF CHANGE
Cl
C2
_C3
Diffusion Indexes
Selected Diffusion Index Components
Rates of Change
The Secretary of Commerce has determined
that the publication of this periodical is necessary in the transaction of the public business
required by law of this Department. Use of funds -
for printing this periodical has been approved
by the Director of the Office of Management
and Budget through April 1, 1985.
to
PART II.
OTHER IMPORTANT
ECONOMIC MEASURES
NATIONAL INCOME
I All
A2
AND PRODUCT
GNPand Personal Income
Personal Consumption Expenditures
Gross Private Domestic Investment
Government Purchases of Goods and Services
Foreign Trade
National Income and Its Components
Saving
Shares of GNP and National Income
Chart
40
41
42
43
44
45
46
47
Table
80
80
81
81
82
82
82
83
48
49
84
87
51
89
52
53
90
90
56
!57
.92
93
58
59
59
94
95
96
PRICES, WAGES,
AND PRODUCTIVITY
Bl
B2
Price Movements
Wages and Productivity
LABOR FORCE, EMPLOYMENT,
AND UNEMPLOYMENT
Civilian Labor Force and Major Components
GOVERNMENT ACTIVITIES
Receipts and Expenditures
Defense Indicators
U.S. INTERNATIONAL TRANSACTIONS
Merchandise Trade
Goods and Services Movements
INTERNATIONAL COMPARISONS
Industrial Production
Consumer Prices
Stock Prices
,
PART III. APPENDIXES
A. MCD and Related Measures of Variability (January 1981 issue)
QCDand Related Measures of Variability (January 1981 issue)
B. Current Adjustment Factors
97
C. Historical Data for Selected Series
98
D. Descriptions and Sources Of Series (See "Alphabetical Index—Series Finding Guide")
E. Business Cycle Expansions and Contractions
103
F. Specific Peak and Trough Dates for Selected Indicators (March 1984 issue)
G. Experimental Data and Analyses
104
Alphabetical Index—Series Finding Guide
110
Titles and Sources of Series
114
Readers are invited to submit comments and
suggestions concerning this publication.
Address them to Feliks Tamm, Chief, Statistical
Indicators Division, Bureau of Economic Analysis,
U.S. Department of Commerce, Washington, D.C. 20230
NEW FEATURES
AND CHANGES
FOR THIS ISSUE
A limited number of
changes are made from
time to time to incorporate recent findings of economic
PRICE REDUCTION
research, newly avail-
The price of BCD has been reduced to $44 per
year (from $55) and $4 per single copy (from
$5.50). Prices for foreign delivery have
been reduced to $55 per year and $5 per copy.
These reductions result from measures taken
over the past 2 years to cut production and
distribution costs.
able time series, and
revisions made by
source agencies in
concept, composition,
comparability, coverage,
seasonal adjustment
methods, benchmark
data, etc. Changes may
result in revisions of
data, additions or
deletions of series,
changes in placement of
series in relation to
Changes in this issue are as follows:
other series, changes
1. The series based wholly or in part on national income and product account (NIPA) data have been revised by the
Bureau of Economic Analysis for the period 1981 to date to
reflect the incorporation of new source data.
indexes, etc.
in composition of
Revised series are as follows: series 16, 18, 20, 22,
27, 30, 34-36, 49-53, 55, 59, 62, 64, 68, 70, 79-81, 86-89,
95, 107, 108, and 223 in section I-B; all series in section
II-A; series 310 and 311 in section I I-B; series 500-502,
510-512, 564, and 565 in section II-D; and the retail trade
inventory-sales ratio in appendix G. (Revised inventorysales ratios for manufacturers and merchant wholesalers will
be shown in a later issue.) See items 2-5, below, concerning
additional revisions in series 20, 27, 36, and 70.
Further information concerning these revisions may be
obtained from the U.S. Department of Commerce, Bureau of
Economic Analysis, National Income and Wealth Division.
(Continued on page iv.)
The August issue of BUSINESS CONDITIONS DIGEST is scheduled
for release on September 4.
in
2. Series 27 (value of manufacturers' new orders, capital goods industries, nondefense,
in constant dollars) has been revised for the period 1970 to date. This revision reflects
the use of revised deflators from the NIPA (item 1, above), a revised seasonal adjustment of
producer price index deflators for the period 1970 to date, and recent revisions in currentdollar data on manufacturers1 new orders for the period 1973 to date.
Further information concerning this revision may be obtained from the U.S. Department
of Commerce, Bureau of Economic Analysis, National Income and Wealth Division.
3. The series on machinery and equipment sales and business construction expenditures
(series 69) has been revised for the period 1981 to date to reflect the computation of new
seasonal adjustment factors on value of new construction put in place.
Further information concerning this, revision may be obtained from the U.S. Department
of Commerce, Bureau of the Census, Construction Statistics Division, and Bureau of Economic
Analysis, Statistical Indicators Division.
4. Series 20 (contracts and orders for plant and equipment in constant dollars) has
been revised for the period 1970 to date. This revision reflects revised NIPA deflators
(item 1, above), revised data for series 27 (item 2, above), and revised data on value of
construction put in place (item 3, above), which is used to deflate the plant component.
Further information concerning this revision may be obtained from the U.S. Department
of Commerce, Bureau of Economic Analysis, Statistical Indicators Division.
5. The series on manufacturing and trade inventories in constant dollars (series 36
and 70) incorporate, in addition to the NIPA revisions mentioned in item 1, above, recent
revisions in the current-dollar data.
Further information concerning these revisions may be obtained from the U.S. Department
of Commerce, Bureau of Economic Analysis, National Income and Wealth Division and Statistical Indicators Division.
6. For the series on manufacturing and trade sales in constant dollars (series 57 and
77), data for January 1984 to date are not comparable with earlier data. Data for 1984 include revised data for retail sales and unrevised data for sales of manufacturers and merchant wholesalers. Figures incorporating revised data for all components will be published
in a later issue.
Further information concerning these series may be obtained from the U.S. Department
of Commerce, Bureau of Economic Analysis, Statistical Indicators Division.
7. Series 48 (employee-hours in nonagricultural establishments) has been revised for
the period 1976 to date. This revision reflects the source agency's revised estimates of
employment in nonagricultural service industries and a new seasonal adjustment.
Further information concerning this revision may be obtained from the U.S. Department
of Labor, Bureau of Labor Statistics, Office of Productivity and Technology, Division of
Productivity Research.
8. Appendix C contains historical data for series 1, 21, 29, 40, 41, 570, 914-917,
940, 961, and 963.
9. Appendix G contains cyclical comparisons for series 5, 30, 43, 50, 910, and 920.
IV
METHOD OF PRESENTATION
This report is organized into two major parts.
Part fr Cyclical Indicators, includes about 150 time
series which have been found to conform well to
broad fluctuations in comprehensive measures of
economic activity. Nearly three-fourths of these are
individual indicators, the rest are related analytical
measures: Composite indexes, diffusion indexes,
and rates of change. Part II, Other Important
Economic Measures, covers over 140 series which
are valuable to business analysts and forecasters
but which do not conform well enough to business
cycles to qualify as cyclical indicators. (There are a
few exceptions: Four series which are included in
part I are also shown in part II to complete the
systematic presentation of certain sets of data,
such as real GNP and unemployment.) The largest
section of part II consists of quarterly series from
the national income and product accounts; other
sections relate to prices, labor force, government
and defense-related activities, and international
transactions and comparisons.
The two parts are further divided into sections
(see table of contents), and each of these sections
is described briefly in this introduction. Data are
shown both in charts and in tables. Most charts
begin with 1959, but those for the composite
indexes and their components (part I, section A)
begin with 1948, and a few charts use a two-panel
format which covers only the period since 1972.
Except for section F in part II, charts contain
shading which indicates periods of recession in
general business activity. The tables contain data
for only the last few years. The historical data for
the various time series are contained in the 1977
Handbook of Cyclical Indicators.
In addition to the charts and tables described
above, each issue contains a summary table which
shows the current behavior of many of the series.
Appendixes present seasonal adjustment factors,
measures of variability, specific cycle turning
dates, cyclical comparison charts, and other
information of analytical interest. An index appears
at the back of each issue. It should be noted that
the series numbers used are for identification
purposes only and do not reflect precise
relationships or order. However, all series
considered as cyclical indicators are numbered in
the range 1 to 199.
Seasonal Adjustments
Adjustments for average seasonal fluctuations
are often necessary to bring out the underlying
trends of time series. Such adjustments allow for
the effects of repetitive intrayear variations
resulting primarily from normal differences in
weather conditions and from various institutional
arrangements. Variations attributable to holidays
are usually accounted for by the seasonal
adjustment process; however, a separate holiday
adjustment is occasionally required for holidays
with variable dates, such as Easter. An additional
adjustment is sometimes necessary for series
which contain considerable variation due to the
number of working or trading days in each month.
As used in this report, the term "seasonal
adjustment" includes trading-day and holiday
adjustments where they have been made.
Most of the series in this report are presented in
seasonally adjusted form and, in most cases, these
are the official figures released by the source
agencies. However, for the special purposes of this
report, a number of series not ordinarily published
in seasonally adjusted form are shown here on a
seasonally adjusted basis.
MCD Moving Averages
Month-to-month changes in a series are often
dominated by erratic movements. MCD (months for
cyclical dominance) is an estimate of the appropriate span over which to observe cyclical
movements in a monthly series. (See appendix A.)
It is the smallest span of months for which the
average change in the cyclical factor is greater than
that in the irregular factor. The more erratic a
series is, the larger the MCD will be; thus, MCD is 1
for the smoothest series and 6 for the most erratic.
MCD moving averages (that is, moving averages of
the period equal to MCD) tend to have about the
same degree of smoothness for all series. Thus, a
5-term moving average of a series with an MCD of 5
will show its cyclical movements about as clearly
as the seasonally adjusted data for a series with an
MCD of 1.
The charts in this report generally include
centered MCD moving averages for those series
with an MCD greater than 4. The seasonally
adjusted data are also plotted to indicate their
variation about the moving averages and to provide
observations for the most recent months.
Reference Turning Dates
The historical business cycle turning dates used
in this report are those designated by the National
Bureau of Economic Research, Inc. (NBER). They
mark the approximate dates when, according to
NBER, aggregate economic activity reached its
cyclical high or low levels. As a matter of general
practice, neither new reference turning dates nor
the shading for recessions will be entered on the
charts until after both the new reference peak and
the new reference trough bounding the shaded area
have been designated.
The historical reference turning dates are subject
to occasional reviews by NBER and may be changed
as a result of revisions in important economic
time series. The dates shown in this publication
for the 1948-70 time period are those determined
by a 1974 review. Since then, NBER has designated
turning points for recessions in 1973-75, 1980. and
1981-82.
Part I. CYCLICAL INDICATORS
Business cycles have been defined as sequences
of expansion and contraction in various economic
processes that show up as major fluctuations in aggregate economic activity—that is, in comprehensive measures of production, employment,
income, and trade. While recurrent and pervasive,
business cycles of historical experience have been
definitely nonperiodic and have varied greatly in
duration and intensity, reflecting changes in
economic systems, conditions, policies, and
outside disturbances.
One of the techniques developed in business
cycle research and widely used as a tool for analyzing current economic conditions and prospects is
the cyclical indicators approach. This approach
identifies certain economic time series as tending
to lead, coincide with or lag behind the broad
movements in aggregate economic activity. Such
indicators have been selected and analyzed by
NBER in a series of studies published between
1938 and 1967. During the 1972-75 period, a new
comprehensive review of cyclical indicators was
carried out by the Bureau of Economic Analysis
(BEA) with the cooperation of the NBER research
staff. The present format and content of part I of
BCD are based on the results of that study.
Section A. Composite Indexes and
Their Components
All cyclical indicators have been evaluated according to six major characteristics: Economic
significance, statistical adequacy, consistency of
timing at business cycle peaks and troughs,
conformity to business expansions and
contractions, smoothness, and prompt availability
(currency). A formal, detailed weighting scheme
was developed and used to assess each series by all
of the above criteria. (See articles in the May and
November 1975 issues of BCD.)
The resulting
scores relate to cyclical behavior of the series
during the period 1947-70. This analysis produced
a new list of indicators classified by economic
process and typical timing at business cycle peaks
and troughs, (See tables on page 2 and text below
relating to section B.)
This information, particularly the scores relating
to consistency of timing, served as a basis for the
selection of series to be included in the composite
indexes. The indexes incorporate the best-scoring
series from many different economic-process
groups and combine those with similar timing
behavior, using their overall performance scores as
weights. Because they use series of historically
tested usefulness and given timing characteristics
(for example, leading at both peaks and troughs),
with diversified economic coverage and a minimum
of duplication, composite indexes give more
reliable signals over time than do any of the
individual indicators. Furthermore, much of the
Cross-Classification of Cyclical Indicators by Economic Process and Cyclical Timing
A. Timing at Business Cycle Peaks
N. Economic
N^rocess
Cyclical Nv
Timing
N.
LEADING (L)
INDICATORS
(62 series)
ROUGHLY
COINCIDENT(C)
INDICATORS
(23 series)
LAGGING (Lg)
INDICATORS
(18 series)
TIMING
UNCLASSIFIED
(U)
(8 series)
II.
PRODUCTION
AND
INCOME
(10 series)
III.
CONSUMPTION,
TRADE,
ORDERS, AND
DELIVERIES
(13 series)
IV.
FIXED
CAPITAL
INVESTMENT
(18 series)
V.
INVENTORIES
AND
INVENTORY
INVESTMENT
(9 series)
Marginal
employment
adjustments
(6 series)
Job vacancies
(2 series)
Comprehensive
employment
(1 series)
Comprehensive
unemployment
(3 series)
Capacity
New and
unfilled orders
and deliveries
(6 series)
Consumption
(2 series)
Formation of
business
enterprises
(2 series)
Business
Investment
commitments
(5 series)
Residential
construction
(3 series)
Inventory
investment
(4 series)
Inventories on
hand and on
order
(1 series)
Comprehensive
employment
(1 series)
Comprehensive
output and
real Income
(4 series)
Industrial
production
(4 series)
EMPLOYMENT
AND
UNEMPLOYMENT
(18 series)
utilization
(2 series)
Consumption
and trade
(4 series)
Duration of
unemployment
(2 series)
Trado
(1 series)
Stock prices
(1 series)
Commodity
prices
( l series)
Profits and
profit
margins
(7 series)
Cash flows
(2 series)
VII.
MONEY
AND CREDIT
(26 series)
Money flows
(3 series)
Real money
supply
(2 series)
Credit flows
(4 sortes)
Credit
difficulties
(2 series)
Bank reserves
(2 series)
Interest rates
(1 series)
Velocity of
monay
(2 series)
Interest rates
(2 series)
Backlog of
Investment
commitments
(1 series)
Business
investment
expenditures
(5 series)
Business
Investment
expenditures
(1 series)
Comprehensive
employment
(3 series)
PRICES, COSTS,
AND PROFITS
(17 series)
Unit labor costs
and labor share
(4 series)
Interest rates
(4 series)
Outstanding
debt
(3 series)
Commodity
prices
(1 series)
Profit share
(1 series)
Interest rates
(1 series)
V.
INVENTORIES
AND
INVENTORY
INVESTMENT
(9 series)
VI.
PRICES.COSTS,
AND PROFITS
(17 series)
VII.
MONEY
AND CREDIT
(26 series)
Inventory
Investment
(4 series)
Stock prices
(1 series)
Commodity
prices
(2 series)
Profits and
profit margins
(6 series)
Cash flows
(2 series)
Money flows
(2 series)
Real money
supply
(2 series)
Credit flows
(4 series)
Credit
difficulties
(2 series)
Profits
(2 series)
Money flow
(1 series)
Velocity of
money
(1 series)
Unit labor costs
and labor share
(4 series)
Velocity of
money
(1 series)
Bank reserves
(1 series)
Interest rates
(8 series)
Outstanding debt
(3 series)
Inventories on
hand and on
order
(4 series)
Business
Investment
commitments
(1 series)
B. Timing at Business Cycle Troughs
N. Economic
^Process
Cyclical^
Timing
N.
LEADING (L)
INDICATORS
(47 series)
ROUGHLY
COINCIDENT(C)
INDICATORS
(23 series)
LAGGING (Lg)
INDICATORS
(40 series)
TIMING
UNCLASSIFIED
(U)
(1 series)
EMPLOYMENT
AND
UNEMPLOYMENT
(18 series)
PRODUCTION
AND
INCOME
(10 series)
Marginal
employment
adjustments
(3 series)
industrial
production
(1 series)
Marginal
employment
adjustments
(2 series)
Comprehensive
employment
(4 series)
Marginal
employment
adjustments
(1 series)
Job vacancies
(2 series)
Comprehensive
employment
(1 series)
Comprehensive
and duration
of
unemployment
(5 series)
Comprehensive
output and
real income
(4 series)
Industrial
production
(3 series)
Capacity
utilization
(2 series)
IV.
111.
CONSUMPTION, FIXED
CAPITAL
TRADE,
ORDEiRS, AND
INVESTMENT
DELIVERIES
(18 series)
(13 series)
New and unfilled
orders and
deliveries
(5 series)
Consumption
and trade
(4 series)
Formation of
business
enterprises
(2 series)
Business
Investment
commitments
(4 series)
Residential
construction
(3 series)
Consumption
and tirade
(3 series)
Business
Investment
commitments
(1 series)
Unfilled orders
(1 series)
Business
Investment
commitments
(2 series)
Business
Investment
expenditures
(6 series)
Inventories on
hand and on
order
(5 series)
Bank reserves
(I series)'
independent measurement error and other "noise"
in the included series are smoothed out in the
index as a whole. The indexes include only monthly
series that are acceptable in terms of relatively
prompt availability and reasonable accuracy.
The main composite indexes are distinguished by
their cyclical timing. Thus, there is an index of
leading indicators, series which historically reached
their cyclical peaks and troughs earlier than the
corresponding business cycle turns. There is an
index of roughly coincident indicators, consisting
of series which historically reached their turning
points at about the same time as the general
economy, and an index of lagging indicators, which
includes series that typically reached their peaks
and troughs later than the corresponding business
cycle turns.
The leading index contains series with long as
well as short leads, but each series leads on the
average over time and shows a frequency of leads
at the individual turns exceeding that attributable
to chance, given the historical distribution of
cyclical timing. (An analogous statement applies to
the components of the lagging index.) Since 1948,
leads were generally more frequent and longer at
peaks than at troughs of business cycles, while lags
were generally more frequent and longer at troughs
than at peaks. The adopted system of scoring and
classifying the indicators takes into account these
well-established differences in timing.
Consequently, rough coincidences include short
leads (-) and lags ( + ) as well as exact
coincidences (0). (For monthly series, the range is
from -3 through + 1 at peaks and from -1 through
-1-3 at troughs, where minus denotes leads and
plus denotes lags in months.)
For purposes of constructing a composite index,
each component series is standardized: The monthto-month percent changes in a given series are
divided by the long-run average (without regard to
sign) of those changes. Thus, the more volatile
series are prevented from dominating the index.
The coincident index is calculated so that its longterm trend (since 1948) equals the average of the
trends of its four components. This trend, which is
similar to that of GNP in constant dollars, can be
viewed as a linear approximation to the secular
movement (at an average growth rate) in aggregate
economic activity. The indexes of leading and lagging indicators have been adjusted so that both
their trends and their average month-to-month
percent changes (without regard to sign) are approximately equal to those of the coincident index.
(For a more detailed description of the method of
constructing the composite indexes, see the 1977
Handbook of Cyclical Indicators.)
In addition to these principal composite indexes,
differentiated according to cyclical timing, there
are five indexes based on leading indicators which
have been grouped by economic process. Taken
together, these additional indexes include all 12
component series of the overall leading index, plus
a few related series. Also shown in this section is
the ratio of the index of roughly coincident
indicators to the index of lagging indicators, a
series known to have a useful pattern of early
cyclical timing. Numbers entered on the charts of
the composite indexes show the length, in months,
of leads (-) and lags ( + ) at each of the reference
turning dates covered.
The next set of data consists of series included
in the principal composite indexes. These are the
12 components of the leading index, the 4
components of the coincident index, and the 6
components of the lagging index. Following the title
of each series, its typical timing is identified by
three letter symbols in a small box. The first of
these letters refers to the timing of the given
indicator at business cycle peaks, the second to its
timing at business cycle troughs, and the third to
its timing at all turns, i.e., at peaks and troughs
combined. " L " denotes a tendency to lead, "C" a
tendency to roughly coincide with the business
cycle turns (as represented by the NBERdesignated reference dates), and "Lg" a tendency
to lag. Since these series have been selected for the
consistency of their timing at both peaks and
troughs, all components of the leading index are
denoted "L,L,L," all components of the coincident
index "C,C,C," and all components of the lagging
index "Lg,Lg,Lg." It should be remembered that
these classifications are based on limited evidence,
namely the performance of the indicators during
the business cycles of the 1948-70 period, which
included five peaks and five troughs. While the
timing classifications are expected to agree with
the patterns prevailing in the near future, they will
not necessarily hold invariably in every instance.
The timing of the series in the period since 1970
can be determined by inspection of the charts,
where the recessions of 1973-75, 1980, and
1981-82 are shaded according to the dates of
the NBER reference cycle chronology.
Section B. Cyclical Indicators by Economic Process
This section covers 111 individual time series,
including the 22 indicators used in the
construction of the composite indexes. The peak
and trough timing classifications are shown on the
charts in the same manner as described above, but
this section includes series with different timing at
peaks and at troughs, as well as series where the
timing is not sufficiently consistent to be classified
as either L,C, or Lg according to the probabilistic
measures and scoring criteria adopted. Such series
are labeled U, i.e., unclassified as to timing at
turning points of the given type. Eight series are
unclassified at peaks, one series at troughs, and 19
series at all turns (of the 19, 15 have definite but
different timing at peaks and at troughs). No series
that is classified as U both at peaks and at troughs
is included in the list of cyclical indicators.
The classification scheme which groups the
indicators of this section by economic process and
cyclical timing is summarized in the two
tabulations on page 2. Cross-classification A is
based on the observed behavior of the series at five
business cycle peaks (November '48, July '53,
August '57, April '60, and December '69); crossclassification B, on their behavior at five business
cycle troughs (October '49, May '54, April '58,
February '61, and November 70). Each tabulation
distinguishes seven major economic processes and
four types of cyclical timing. The titles in the cells
identify subgroups of the given economic process
with the given timing characteristic. The number of
series in each such group is given in parentheses
following the title. Complete information on how
individual indicators are classified by timing at
peaks, troughs, and all turns, along with selected
measures and scores, is provided in the 1977
Handbook of Cyclical Indicators.
Section C. Diffusion Indexes and Rates of Change
Many series in this report are aggregates
compiled from numerous components. How the
individual components of an aggregate move over a
given timespan is summarized by a diffusion index
which indicates the percentage of components that
are rising (with half of the unchanged components
considered rising). Cyclical changes in these
diffusion indexes tend to lead those of the
corresponding aggregates. Since diffusion indexes
are highly erratic, they are computed from changes
measured over 6- or 9-month (or 3- or 4-quarter)
spans, as well as 1-month (or 1-quarter) spans.
Longer spans help to highlight the trends underlying the shorter-term fluctuations. Diffusion indexes
are shown for the component series included in
each of the three composite indexes and for the
components of some of the aggregate series shown
in section B.
Diffusion measures can be derived not only from
actual data but also from surveys of anticipations
or intentions. Indexes based on responses of
business executives about their plans and
expectations for several operating variables are
presented, along with the corresponding indexes
based on actual data, as the last set of diffusion
series.
This section also records rates of change for the
three composite indexes (leading, coincident, and
lagging) and for four indicators of aggregate
economic activity: GNP in constant dollars
(quarterly), industrial production, employee hours
in nonagricultural establishments, and personal
income less transfers in constant dollars. Rates of
change are shown for 1- and 3-month spans or for
1-quarter spans.
Although movements in diffusion indexes and in
rates of change for the same aggregates are
generally positively correlated, these two measures
present information about two related but distinct
aspects of economic change. Diffusion indexes
measure the prevailing direction or scope of
change, while rates of change measure the degree
as well as the overall direction. As is the case for
diffusion indexes, cyclical movements in the rates
of change tend to lead those of the corresponding
indexes or aggregates, and thus, they tend to lead
at the business cycle turns as well.
Part II. OTHER IMPORTANT ECONOMIC
MEASURES
This part is divided into six sections which cover
a wide range of quarterly and monthly time series
measuring various aspects of economic activity.
Some of these series are very comprehensive,
pertaining to the U.S. economy as a whole, others
have to do with particular sectors or markets, and
still others relate to U.S. international transactions
or to selected foreign countries. The represented
variables include incomes, outputs, and
expenditures; prices, earnings, and productivity;
labor resources; government receipts,
expenditures, and defense-related activities; exports and imports; and selected indicators for a few
key foreign countries.
Section A. National Income and Product
The national income and product accounts,
compiled by BEA, summarize both receipts and
final expenditures for the personal, business,
foreign, and government sectors of the economy.
Section Al shows the gross national product,
final sales, and personal and disposable personal
income. The four major components of the gross
national product—personal consumption
expenditures, gross private domestic investment,
government purchases of goods and services, and
net exports of goods and services—are presented in
sections A2 through A5. Most of the series in
section A are presented in current as well as
constant dollars. There are also a few per capita
series. The national income and product accounts,
briefly defined below, are described more fully in
the Survey of Current Business, Part I,
January 1976.
Gross national product (GNP) is the market
value of final goods and services produced by the
labor and property supplied by residents of the
United States, before deduction of allowances for
the consumption of fixed capital goods. It is the
most comprehensive measure of aggregate
economic output. Final sales is GNP less change in
business inventories.
Personal income is the income received by
persons (individuals, owners of unincorporated
businesses, nonprofit institutions, private trust
funds, and private noninsured welfare funds) from
all sources. It is the sum of wage and salary
disbursements, other labor income, proprietors'
income, rental income of persons, dividends,
personal interest income, and transfer payments,
less personal contributions for social insurance.
Disposable personal income is the personal
income available for spending or saving. It consists
of personal income less personal taxes and nontax
payments to government.
Personal consumption expenditures (A2) is
goods and services purchased by individuals,
operating expenses of nonprofit institutions, and
the value of food, fuel, clothing, rent of dwellings,
and financial services received in kind by individuals. Net purchases of used goods are also included.
Gross private domestic investment (A3) is fixed
capital goods purchased by private business and
nonprofit institutions and the value of the change
in the physical volume of inventories held by
private business. The former include all private
purchases of dwellings, whether purchased for
tenant or owner occupancy. Net purchases of used
goods are also included.
Government purchases of goods and services
(A4) \s the compensation of government employees
and purchases from business and from abroad. It
excludes transfer payments, interest paid by
government, and subsidies. It includes gross
investment by government enterprises but excludes
their current outlays. It includes net purchases of
used goods and excludes sales and purchases of
land and financial assets.
Net exports of goods and services (A5) is exports
less imports of goods and services. Exports are part
of the national production; imports are not, but are
included in the components of GNP and are
therefore deducted. More detail on U.S.
international transactions is provided in section E.
National income (A6) is the incomes that
originate in the production of goods and services
attributable to labor and property supplied by
residents of the United States. Thus, it measures
the factor costs of the goods and services produced. It consists of the compensation of
employees, proprietors' income, rental income of
persons, corporate profits, and net interest.
Saving (A7) is the difference between income
and expenditures during an accounting period.
Total gross saving includes personal saving,
business saving (mainly undistributed corporate
profits and capital consumption allowances), and
government surplus or deficit.
Shares of GNP and national income (A8).—The
major expenditure components of GNP
(consumption, investment, etc.) are expressed as
percentages of GNP, and the major income
components of national income (compensation of
employees, corporate profits, etc.) are expressed as
percentages of national income,
Section 8. Prices, Wages, and Productivity
The important data on price movements include
the monthly consumer and producer price indexes
and their major components. Based largely on
these series are the quarterly price indexes from
the national income and product accounts, notably
the GNP implicit price deflator (with weights
reflecting the changing proportions of different
expenditure categories in GNP) and the fixedweighted price index for the gross business product. Data on both levels and percent changes are
presented for the period since 1972.
The group of series on wages and productivity
consists of data on average hourly earnings and
average hourly compensation (including earnings
and other benefits) in current and constant dollars,
output per hour of work in the business sector, and
rates of change for most of these measures.
Section C. Labor Force, Employment, and
Unemployment
This section contains measures of the civilian
labor force and its major components: Total
numbers of employed and unemployed persons.
The number of unemployed is subdivided into
selected categories defined by sex, age, and class
of worker. Also included are data on participation
rates for a few principal segments of the labor
force.
Section D. Government Activities
Receipts, expenditures, and their balance (surplus or deficit) are shown quarterly on two levels:
(1) Federal Government and (2) State and local
government. Also shown is a selection of series
from the discontinued Defense
Indicators.
These series measure defense activities which
influence short-term changes in the national
economy. Included are series relating to
obligations, contracts, orders, production,
shipments, inventories, outlays, arid employment.
These series are grouped according to the time at
which the activities they measure occur in the
defense order-production-delivery process. Series
measuring activities which usually precede production, such as contract awards and new orders,
are classified as "advance measures of defense
activity." Series measuring activities which tend to
coincide with production, such as employment, and
activities which usually follow production, such as
shipments, are classified as "intermediate and final
measures of defense activity."
Section E. U.S. International Transactions
This group includes monthly series on exports
(excluding military aid) and general imports, plus a
few selected components of these aggregates. Also
shown are the balances between receipts and
expenditures for goods and services, merchandise,
and investment income.
Section F. International Comparisons
This section is designed to facilitate a quick
review of basic economic conditions in six of the
nations with which we have important trade
relationships. The U.S. business cycle shading has
been omitted from these charts. Data on industrial
production, consumer prices, and stock prices for
Canada, the United Kingdom, France, West Germany, Japan, and Italy are compared with the corresponding U.S. series. Also included is an industrial production index for the European
countries in the Organization for Economic
Cooperation and Development (OECD). The industrial production series provide cyclically sensitive output measures for large parts of the
economies covered. Changes in consumer price indexes (plotted for the period since 1972) provide
important measures of the rates of inflation in the
major industrialized countries. Stock prices (also
shown beginning in 1972) tend to be significant as
leading indicators.
HOW TO READ CHARTS
Peak (P) of cycle indicates
end of expansion and beginning of recession (shaded
area) as designated by NBER.
Basic Data
(fee) (fteo.)
PI
(Mas.)
(Ster.)
P
T
Arabic number indicates latest
month for which data are
plotted. ("9" = September)
Solid line indicates monthly
data. (Data may be actual
monthly figures or moving
averages.)
Dotted line indicates anticipated data.
Broken line indicates actual
monthly data for series where
a moving average is plotted.
Roman number indicates
latest quarter for which data
are plotted. ("IV" = fourth
quarter)
Solid line with plotting points
indicates quarterly data.
Parallel lines indicates a break
in continuity (data not available, extreme value, etc.).
Trough (T) of cycle indicates
end of recession and beginning of expansion as designated by NBER.
Various scales are used to
Diffusion Indexes
Solid line indicates monthly
data over 6- or 9-month
spans.
Broken line indicates monthly
data over 1-month spans.
Broken line with plotting
points indicates quarterly
data over 1-quarter spans.
Solid line with plotting points
indicates quarterly data over
various spans.
Diffusion indexes and rates
of change are centered within
the spans they cover.
Solid line indicates percent
changes over 3- or 6-month
spans.
highlight the patterns of the
individual series. "Scale A "
is an arithmetic scale, "scale
L-1" is a logarithmic scale
with 1 cycle in a given distance, "scale L-2" is a logarithmic scale with two cycles
in that distance, etc.
Arabic number indicates latest
month for which data are
used in computing the indexes.
Roman number indicates
latest quarter for which data
are used in computing the indexes.
Dotted line indicates anticipated quarterly data over
various spans.
Arabic number indicates latest
month used in computing
the changes.
Broken line indicates percent
changes over 1-month spans.
Broken line with plotting
points
indicates
percent
changes over 1-quarter spans.
Solid line with plotting points
indicates percent changes over
3-or 4-quarter spans.
Roman number indicates
latest quarter used in computing the changes.
HOW TO LOCATE A SERIES
1. See ALPHABETICAL INDEX-SERIES FINDING GUIDE at
the back of the report where series are arranged alphabetically
according to subject matter and key words and phrases of the
series titles, or—
2. See TITLES AND SOURCES OF SERIES at the back of
the report where series are listed numerically according to
series numbers within each of the report's sections.
Table 1. Summary of Recent Data and Current Changes for Principal Indicators
Percent change
Basic data'
Unit
of
measure
Series; title and timing classification1
Annual average
1983
4th Q
1983
1st Q
1984
2dQ
1984
Apr.
1984
May
1984
June
1984
May
1st Q
to
2dQ
1984
Apr.
to
May
1984
June
1984
-0.9
0.7
0.6
0.1
2.1
3.0
1.1
2.0
1.1
2.3
4.4
-1.9
NA
-0.5
-1.5
NA
NA
NA
1.1
1.2
NA
2.0
NA
-0.2
0.4
NA
NA
4th Q
to
1st Q
I. C Y C L I C A L I N D I C A T O R S
A. C o m p o s i t e I n d e x e s
910.
920.
930940.
Twelve leading indicators
Four roughly coincident indicators
Six lagging indicators
Ratio, coincident index to lagging index
L,L,L... 1967 = 100...
C(C,C...
do
Lg,Lg,Lg,
do
L,L,L...
do
Leading Indicator Subgroups:
913. Marginal employment adjustments
914. Capital investment commitments
915. Inventory investment and purchasing
916. Profitability
917. Money and financial flows
L,L,L...
L,L,L,
L,L,L...
L,L,L.
L,L,L...
do..,
....do...
....do..
....do...
....do..
136.8
136.3
123.0
110.9
156.1
139.8
111.8
125.2
162.9
145.9
110.4
132.1
166.4
150.3
111.6
134.7
168.2
153.8
116.5
132.1
168.3
152.6
114.9
132.6
168.9
153 .9
116.9
131 .7
167.4
155.0
117.6
131.8
0.4
0.9
1.7
-0.8
NA
104.3
97.2
93.7
122.8
NA
108.6
102.8
104.8
13 0.
NA
110.1
105.6
108.9
132.3
NA
111.3
106 .9
NA
135.0
NA
111.1
107.3
NA
NA
NA
111.2
107.8
NA
137.1
NA
111.3
107.9
NA
139.0
NA
110.7
106.3
NA
NA
NA
0.1
0.1
NA
1.4
38.9
2.3
578
40.1
3.0
426
40.6
3.3
3 82
40.8
3.5
352
40.8
3.4
3 53
41.1
3.7
360
40.6
3.3
348
40.6
3.3
350
-1.2
-0.4
3.3
0.
0.
-0.6
0.5
0.2
7.9
-0.3
0.243
86
0.271
96
0.420
125
0.449
128
0.418
124
0.437
125
0.491
134
0.019
0.8
0.054
7.2
0.058
8.7
0,029
2.4
176.19 176.79
101.90 102.34
94.02
93.72
24,850 24,990
-0.4
0.9
0.3
0.4
0.3
0.4
1.7
1.2
1.2
1.9
1.2
1.3
1.0
1.4
B. C y c l i c a l I n d i c a t o r s b y E c o n o m i c P r o c e s s
B l . Employment and Unemployment
Marginal Employment Adjustments:
• 1 . Average workweek, prod, workers, mfg, ,
21. Avg. weekly overtime, prod, workers, mfg* .
•5. Avg. weekly initial claims (inverted1)
. L,L,L.
Hours
. . L,C,L
....do
L,C,L... Thousands...
Job Vacancies:
60. Ratio, help wante.j advertising to unemployment3
46. Help-wanted advertising
Comprehensive Employment:
48. Employee-hours in nonagri. establishments..
42. Persons engaged in nonagri. activities.. ,
M l . Employees on nonagri. payrolls
40. Employees in mining, mfg., construction.,
90. Ratio, civilian employment to total population
of working age3.,
Comprehensive Unemployment:
37. Total unemployed (inverted*)
43. Unemployment rate, total (inverted')3
45. Avg. weekly insured unemployment rate (inv.*)1
•91. Avg, duration of unemployment (inverted4),...
44. Unemployment rote, 15 weeks and over (inv.'}3
B2.
. U.C.C... A.r., bil. hrs...
U.C,C... Millions
do
.. C,CtC...
Thousands
. U,Lg,U.... Percent
.... L,Lg,U....
.... L,Lg,U....
.... L,Lg,U....
..1*1*1*..
.. 1*1*1*..
Thousands...
Percent
Weeks
Percent
166.02 1 6 8 . 1 5
96.12
97.45
90.14
89.57
23,813 2 3 , 3 9 4
0.362
115
1 7 1 . 5 1 174.48
9 9 . 2 2 100.42
91.69
92.76
24,050 24,518
176.62 176.89
101.75 101.01
93.45
93.73
24,867 2 4 , 7 6 0
57.15
57.86
58.32
58.96
58.59
59.04
59.24
0.45
0.20
0.46
0.64
10,678 1 0 , 7 1 7
9.7
9.6
4.6
3.8
15.6
20.0
3.2
3.8
9,507
8.5
3.2
20.0
3.1
8,866
7.9
2.9
19.4
2.7
8,496
7.5
2.7
18.5
2.4
8,343
7.8
2.8
18.5
2.5
8,514
7.5
2.7
18.4
2.5
8,130
7.1
2.7
18.6
2.3
3.7
0.3
0.1
0.5
0.
4.5
0.4
0.
-1.1
0.2
6.7
0.6
0.3
3.0
0.4
4.2
0.4
0.2
4.6
0.3
1610.9
1339.5
1150.8
1640.2
1360.8
1171.2
1355.1
1165.7
1360.4 1367.0
1170.5 1177.3
0,4
0.4
0.5
0.6
2.4
2.0
2.4
1.8
1,6
57.05
Production and Income
Comprehensive Output and Income:
50. GNP in 1972 dollars
52. Personal income in 1972 dollars
•51. Pers. income less transfer pay., 1972 dollars
53. Wages and salaries in mining, mfg., and
construction, 1972 dollars
Industrial Production:
M7. Industrial production, total.....
73. Industrial production, durable mfrs
74. Industrial production,-nondurable mfrs
49. Value of goods output, 1972 dollars
. C.C.C.... A.r.,bi|.dol
. c,c,c...
.. c,c,c... I'doZZ
. c,c,c... ....do
ccc...
1967 = 100...
do
I ! C',L',LI
ccc.
Capacity Utilization:
•83. Capacity utilization rate, mfg., BEAJ
82. Capacity utilization rate, mfg., FRB'
84. Capacity utilization rate, materials, FRB3
B3.
L,Lg,U,
Ratio
LtLg,U.... 1967 = 100...
0.
-O.I
L,C,U..,.
L.CU...
A.r., bil. dol...
Percent
...do...
1480.0
1254.5
1072.0
1534.7 1572.7
1284.6 1313.2
1095.0 1123.9
215.9
213.5
218.4
222.6
225.2
224.7
224.7
226.1
0.
0.6
1.9
L2
138.6
124.7
156.2
660.6
147.6
134.5
168.1
688.6
155.5
143.8
174.8
715.5
159.8
150.2
176.7
744.9
162.9
153.4
17 9.8
764.4
162.2
152.8
179.2
162.8
153.3
179.9
163.6
154.1
180.2
0.4
0.3
0.4
0.5
0.5
0.2
2.8
4.5
1.1
4.1
1.9
2.1
1.8
2.6
70
71.1
70.0
74
75.2
75.2
77
78.9
79.6
NA
80.7
81.6
NA
81.7
82.8
NA
1.8
2.0
NA
1.0
1.2
C o n s u m p t i o n , T r a d e , O r d e r s , a n d Deliveries
Orders and Deliveries:
6. New orders, durable goods
7. Now orders, durable goods, 1972 dollais
*8. New orders, cons, goods and mils., 1972 do!.
25. Change in unfilled orders, durable goods3
96. Mfrs.' unfilled orders, durable floods5
•32. Vendor performance3 ©
Consumption and Trade;
56. Manufacturing and trade sales.,
*57. Manufacturing and trade sales, 1972 dollars
75. Industrial production, consumer goods
54. Sales of retail stores,
,
59. Sales of retail stores, 1972 dollars
55. Personal consumption expenditures, automobiles...
58. Index of consumer sentiment @
,
B4.
.. L.L.L.
... L,L,L.
L,L,L,
.. L.L.L..
L,Lg,U..
... L.L.L-
.. ccc.
.. c,c,c.
Bit. dot
do . . ..
. . .do.
do. .
Bil. dol., EOP ..
Percent
Bil. dol
do
.. CL.C. 1967 = 100
. C.L.U.. Bil. dol
do
.. U,L,U..
.. L.CC. A.r., bil. dol
.. L,L,L. IQ 1966=100
87.85
75.00
97.07
32.47 3 7 . 0 1 40.59
2 9.44 3 4 . 1 2 36.73
2.69
-1.81
4.46
287.01 319.30 319.30
54
37
63
102.32
99.84
42.48
41.10
38.16
37.32
6.13
2.53
337.70 345.30
68
69
343.34 367.06
152.07 161.16
142.6
151.7
89.55
97.83
44.67 47.75
73.6
88.3
87.5
388.23
167.73
156.9
101.75
49.35
96.3
91.5
400.62
NA 405.88 412.31
NA 173.77 177.35
172.29
162.1
159.7
161 .5 162.1
105.32 108.19 107.50 108.09
50.58
51.96
51 .54 51.94
101.9
103.8
98.1
99.5
96.6
96.1
114.8
113.2
47,153 50,162
117.4
5 :L , 2 1 3
117.5
53 ,3 53
68.0
98.32
40.33
102.26
42.13
37.31 3 8 . 4 6
2.62
4.31
340.32 344.63
71
70
98.93
40.65
36.18
0.67
345.30
66
1.69
1.3
-1
-3.3
-3.5
-5.9
-3.64
0.2
-4
NA
NA
162.7
108.97
52.39
1.6
2.1
0.4
0.5
0.8
NA
NA
0.4
0.8
0.9
4.0
3.9
3.1
95.5
2.1
115.8
-2.0
5.4
5
-2.4
-3.2
-2.2
-3.S0
2.3
1
-2.7
3.2
2.7
1
3.5
2.5
5
8.7
HA
HA
1-5
2*7
2.7
1.9
-2.9
-0.3
NA
0.1
4.2
-0.5
NA
3.5
3.9
4.7
3.9
1.67
5.8
Fixed C a p i t a l I n v e s t m e n t
Formation of Business Enterprises:
*12. Net business formation
13. New business incorporations
,
Business Investment Commitments:
10. Contracts and orders, plant and equipment
*20. Contracts and orders, plant and equipment,
1972 dollars
24. New orders, capital goods indus., nondefense.,..
27. New orders, capital goods industries,
nondefense, 1972 dollars
. L.L.L.... 1967 = 100....
.. L.L.L.. Number
Bil. dol..
,. L.L.L...
.. L.L.L..
do...
....do...
24.79
116.2
NA
29.55
34.47
30.98
16.6
-10.1
12.31
20.63
13.40
22.73
1.4.20
2 5.02
15.23
26.32
15.77
27.35
14.62
25.88
17.11
28.96
15.59
27.22
17.0
11.9
-8.9
-6.0
7.3
5.2
10.52
11.72
12.58
13.65
13.98
13.11
14.82
14.02
13.0
-5.4
8.5
:>. 8 . 8 4
5.1
Table 1. Summary of Recent Data and Current Changes for Principal
Indicators—Continued
Basic data2
Series title and timing classification'
of
measure
Percent change
Annual average
1982
1983
4th Q
1983
1st Q
1984
2d Q
1984
70.63
25 17
73.67
71.28
27 88
79.49
NA
NA
Apr.
1984
May
1984
May
to
June
1984
Apr,
to
May
1984
June
1984
4th Q
to
lstQ
1984
1st Q
to
2(JQ
1984
E
1
1. C Y C L I C A L I N D I C A T O R S — C o n .
B 4 . Fixed Capital I n v e s t m e n t — C o n .
Business Investment Commitments—Con.:
9. Construction contracts, commercial and
industrial buildings, floor space
11. Newly approved capital appropriations, mfg
97. Backlog of capital appropriations, mfg.!
Business Investment Expenditures:
61. Business expend., new plant and equipment
69. Machinery and equipment sales and business
construction expenditures
76. Industrial production, business equipment
86. Nonresid. fixed investment, total, 1972 dollars
Residential Construction Commitments and Investment:
28. New private housing units started, total
*29. New building permits, private housing
89 Fixed investment residential 1972 dollars
B5. Inventories and Inventory
C,Lg,Lg.... A.r. t bil.dol
C,Lg,Lg....
do
C.Lg.U.... 1967=100
C,lg(C... A r nil dol
L,L,L... Ax, thousands.
L t L t L... 1967=100
L L L A r bil dol
57.38
21 2 8
70.76
63.86
22 04
73.67
80.00
80.03
282.71
269.22
325.69
157.9
166.9
320.57 3 3 9 . 8 1 350.48
153.3
164.2
171.6
171 . 0
193 .3
184.5
NA
175.3
202.6
358.79
173.5
1 ,062
80.7
37.9
283.96
293.15
84.3 9
74.04
5.4
-12.3
303.79
1,703
129.4
53.7
1,699
132.0
57.8
1,968
146.1
60.6
1,907
2,015
141.9
62.0
142.0
21.5
0.9
10 8
8.6
11.5
NA
NA
97
3.2
3.6
61
9
376.29
175.4
NA
177.0
4.9
1.1
NA
0.9
3.1
4.5
4.8
NA
2.2
4.8
69
76
86
1,805
141.0
1,900
142.8
-10.4
-0.7
5.3
1.3
15.8
10.7
4.8
-3.1
-2.9
2.3
28
29
89
24.4
-10.1
30
Investment
Inventory Investment:
30. Change in business inventories, 1972 dollars3
•36. Change in inventories on hand and on order,
1972 dollars (smoothed6)3
31. Change in mfg. and trade inventories3
38. Change in materials on hand and on order3
Inventories on Hand and on Order:
71. Mfg. and trade inventories, book value5
70. Mfg. and trade inventories, 1972 dollars5
65. Mfrs.' inventories of finished goods5
•77. Ratio, constant-dollar inventories to sales, mfg.
and trade3
78. Stocks of materials and supplies on hand and on
order, mfg.*
B6.
L,C,U.... Mil.sq.ft
U,Lg,U.... Bil. dol
C,Lg,Lg.... Bil. dol., EOP ..
do
-10.4
-3.6
7.2
31.6
do
L,L,L...
do
L,L,L...
Bil. dol
L,L,I
-16.00
-18.1
-2.13
1.91
8.8
1.46
16.51
29.4
2.23
25.43
73.7
2.66
505.55
259.40
85.02
514.34
259.02
80.87
514.34
259.02
80.87
53 2 . 7 7
265.12
82.87
1.75
1.61
1.56
1.52
NA
1.54
191.12
208.59
208.59
216.59
NA
-0.38
242.5
-0.67
1.23
258.5
1.03
0.96
278.5
0.93
0.29
285.5
0.52
119.71
160.41
165,75
L,L,L.,..
Lg,Lg,Lg.... Bil. dol., EOP ..
Lg,Lg,Lg....
do
Lg,Lg,Lg....
do
Lg,Lg,Lg.... Ratio
L,Lg,Lg.... Bil. dol., EOP ..
NA
NA
NA
34.26
58.2
2.55
NA
NA
NA
-0.80
-41.3
0.27
NA
NA
NA
8.92
44.3
0.43
NA
NA
NA
36
31
38
545.91
26 9 . 7 8
85.30
NA
NA
NA
0.9
0.7
1.5
NA
NA
NA
3.6
2.4
2.5
NA
NA
NA
71
70
65
1.52
NA
-0.02
NA
-0.04
NA
77
218.87
221.42
NA
1.2
NA
3.8
NA
78
-0.54
288.1
0.18
-0.45
288.6
0.39
-0.51
289.5
0.27
-0.65
286.2
-0.12
-0.06
0.3
-0,12
-0.14
-1.1
-0.39
-0.67
2.5
-0.41
-0.83
0.9
-0.34
98
23
99
160.36
155.76
157.60
156.55
153.12
-0.7
-2.2
-3.3
-2.9
19
35.06
99,5
2.28
NA 5 4 1 . 0 6
NA 2 6 7 . 8 6
NA
84.06
Prices, Costs, a n d Profits
Sensitive Commodity Prices:
98. Change in producer prices, sensitive materials3
23. Spot market prices, raw industrials ©
•99. Change in sensitive materials prices (smoothed6)3
L,L,L... Percent
U,l,L... 1967 = 100
L,L,L... Percent
Stock Prices:
•19. Stock prices, 500 common stoch ®
L,L,L... 1941-43=10..
Profits and Profit Margins:
16. Corporate profits after taxes
18. Corporate profits after taxes, 1972 dollars
74 Pnrn nrnfik aftpr h»p<t with IVA anri PCArli
80
do
1977
rinllan
15 Profits faftpr taxes) Der dollar of sales mfc 2
26 Ratio nrice to unit labor cost nonfarm business
L,L,L... A.r., bil.dol
do
L,L,L...
I CL
do
LC L
do
L L L Cents
L L L 1977 — 100
104.8
50.6
98.4
47 6
3.4
96 . 2
127.4
60.5
149.4
71.2
4.0
97.6
.141.1
66.4
175.5
83 . 0
4.5
98.5
150.6
71.0
184.7
87.5
4.9
98.4
NA
NA
NA
NA
NA
NA
6.7
6.9
5.2
5.4
0.4
-0.1
NA
NA
NA
NA
NA
NA
16
18
79
80
15
26
Cash Flows:
34. Net cash flow, corporate
35 Net cash flow comorate 1972 dollars
L,L,L... A.r., bil.dol
LL L
do
260.4
121.9
318.9
149.3
345.6
160.9
360.4
167.5
NA
NA
4.3
4.1
NA
NA
34
35
Lg,Lg,Lg.... 1977 = 100
153.3
157.1
157.9
158.6
NA
0.4
NA
63
Lg,Lg,Lg.... Dollars
1.397
1.409
1.408
1.415
NA
0.5
NA
Lg,Lg,Lg.... 1967 = 100
lg,Lg,Lg.... Percent
226.8
102.0
219.6
91.9
217.4
88.5
220.7
88.2
220.9
86.7
do
76.2
75.0
74.3
73.5
NA
do
L,L,L...
do
L.CU...,
L,L,L...
do
L,L,L... Bil. dol
do
L,L,L.
0.70
0.75
0.86
198.7
814.3
0,75
0.93
0.81
213.8
888.8
0.41
0.75
0.70
216.3
902.1
0.62
0.51
0.88
217.6
906.7
0.68
0.62
NA
218.9
913.7
0.04
0.57
0.98
217.1
909.4
1.06
0.70
1.01
218.9
914.0
0.94
0.58
NA
220.7
917.8
1.02
0.13
0.03
0.8
-0.12
-0.12
NA
0.8
C C C
Ratio
do
C,Lg,C...
6.697
1.376
6.491
1.297
6.558
1.300
6.670
1.316
6.743
1.322
1.324
1.320
1.3 23 - 0 . 0 0 4
0.003
NA 1 3 3 . 1 5
86.46
96.91
NA 7 6 . 9 0
NA
20.2
NA
NA
103 . 0 0
122.80
26.2
NA
59.46
NA
NA
NA
NA
NA
NA
Unit Labor Costs and Labor Share:
63. Unit labor cost, private business sector
68. Labor cost per unit of real gross domestic
product, nonfin. corporations
62. Labor cost per unit of output, manufacturing
a) Actual data
* b ) Actual data as percent of trend
64. Compensation of employees as percent of
national income3
B7.
220.6
86.6
220.9
86.2
-0.3
-0.8
0.1
-0.4
1.5
-0.3
0.1
-1.5
68
62
62
NA
64
0.21
-0.24
0.18
0.6
0.06
0.11
NA
0.6
85
102
104
105
106
0.112
0.016
0.073
0.006
107
108
7.04
27.90
5.01
3.9
-22.7
NA
32.90
NA
NA
NA
33
112
113
111
11C
NA
0.09
NA
NA
14
39
-0.8
Money and Credit
Money:
85. Change in money supply (Ml) 3
102 Change in monev SUDDIV (M2)3
104. Change in total liquid assets (smoothed5)3
105. Money supply ( M l ) , 1972 dollars
*106. Money supply (M2), 1972 dollars
Velocity of Money:
1 0 7 Ratio G N P t o m o n e v S U D O I V ( M 1 V
108. Ratio, personal income to money supply (M2) 3
Credit
33.
112.
113.
•111.
110
LP Lf? LE
221 .3
87.4
Flows:
Change in mortgage debt3
Change in business loans3
Change in consumer installment credit3
Change in credit outstanding'
Total private borrowing
L,L,L... A.r., bil. dol....
do
L,L,L...
do
L,L,L...
L,L,L... A.r., percent...
L,L,L... A.r., bil. dol....
Credit Difficulties:
14. Liabilities of business failures (inv.<) <g>
39. Delinquency rate, installment loans (inv.<)35
L,L,L... Mil. dol
L,L,L... Percent, EOP
90.74
36.67
-5.13
83.70
53 .56
17.32
3.66
25.66
67.79
13.36
39.77
62.78
14.7
1.9
4.9
10.8
2 6 2 . 9 9 386 . 6 1 5 1 2 . 8 8 3 9 6 . 5 8
NA
2.18
NA
1.94
NA
1.94
NA
1.85
NA
NA
NA
NA
NA
NA
6.09 - 4 3 . 5 4
NA
45.90
6.0
NA
NA
NA
NA
NA
Table 1. Summary of Recent Data and Current Changes for Principal Indicators—Continued
Basic data2
Unit
of
measure
1
Series title and timing classification
Percent change
Annual average
1982
1983
4th Q
1983
1st Q
1984
24 Q
1984
Apr.
1984
May
1984
June
1984
Apr.
to
May
1984
May
to
June
1984
4th Q
to
1st Q
1984
1st Q
to
2dQ
I. CYCLICAL I N D I C A T O R S — C o n .
B7. M o n e y a n d C r e d i t — C o n .
Bank Reserves:
93. Free reserves (inverted 1 ) 3 ©
94. Borrowing from the Federal Reserve3®
Interest Rates:
119. Federal funds rate1 ©
114. Treasury bill r a t e 3 © .
116. Corporate bond yields 3 ©
115. Treasury bond yields'©
117. Municipal bond yields'©
118. Mortgage yields, residential3 ©
67. Bank rates on short term business loans9 ©
*109. Average prime rate charged by banks3 ©
Outstanding Debt;
66. Consumer installment credit5
72. Commercial artd industrial loans outstanding
*101. Commercial and industrial loans outstanding,
1972 dollars
*95. Ratio, consumer install, credil: to pers. income3
L,U,U... Mil. dol
L,Lg,U...
do..,
-692
1,052
-5415
1,034
-300
831
10
745
-1,896
2,507
l,lg,Lg... Percent
....do...
C.Lg,Lg...
Lg,lg,Lg....
....do...
....do...
C,Lg,Lg....
do...
U,Lg,Lg..
do...
Lg.Lg.Lg...
do...
Lg.Lg.Lg.,
do...
Lg.Lg.lg..
12.26
10.7
14.68
12.23
11.66
15.30
14.69
14.86
9.0 9
8.61!
12.25
10.84
9.43
8.79
12.76
11 . 3 2
9.77
13.24
10.95
11.00
9.69
9.13
12.94
11.54
9.73
13.32
11.06
11.07
10.56
9.84
14.18
12.69
10.37
14.57
12.45
12.31
1,906
1,762
- 7 4 4 - 2 , 4 1 1 -2,533
2,988
3,300
1,234
1,66
1,7 54
122
31
-310
-86
10.29
9.6 9
13.64
12.17
9.96
13.80
10.32
9.90
14.41
12.89
10.49
15.01
11 .06
9.94
14.49
13 .00
10.67
14.91
0.03
0.21
0.7
0.72
0.53
1.21
0.74
0.04
0.08
0.11
0.18
-0.10
11.93
12.39
12.60
0.46
0.21
0.26
0.34
0.18
0.22
-0.04
0.08
0.11
0.07
0
0.71
1.24
1.15
0.64
1.25
1.3 9
1.24
Lg,Lg,Lg.., Bil. dol., EOP
tg,Lg,Lg.. Bit. dol
348.94 388.72 388.72 405.66
4 1 2 . 0 7 422.31
2 6 8 . 2 4 2 6 4 . 9 4 2 6 5 . 4 1 2 7 4 . 1 8 297.66 2 9 0 . 2 9 298.8 3 03.83
2.5
3.0
NA
1.7
4.4
3.3
NA
8.6
Lg,Lg,Lg....
Lg,Lg,Lg,,,. Percent
106.74
13.10
104.13
13.34
2.9
0.29
1.
NA
2.1
0.17
7.8
NA
1972 = 100.,
1967-100..
Percent
1967 = 100..
...do...
..do...
..do..
...do..
...do...
...do...
207.4
289.1
0.3
285.7
299.3
312.3
319.5
310.4
279.6
280.9
215.3
298
0.3
291.7
303
315
323.6
312.4
287.3
284.6
218.2
303.1
0.3
294.3
305.9
318.4
331.1
316
289.1
286.5
220.6
306.4
0.4
301.4
3 09.3
320.5
334.9
317.9
291.7
289.9
222
309
0.3
301.3
311
323
334.3
320.4
294
290.6
308.8
0
301.7
311.4
322
337
319.3
2 93.8
290.9
309
0
300
311
3 23
334
320
294.4
290.6
310.7
0.2
301.3
311 .4
323.9
331.1
321 .6
294.5
290.4
0.3
0.3
0.2
-0.1
0,
0.
0.
-0,
0.
-1.0
0
0
-0.1
1.1
1.1
0
2.4
1.1
0
1.1
0.
0.
1.
0.8
1.1
-0.1
0.
0.
0.
-0.
0.
0.
0.
1977 = 100,.
148.3
155.1
157.4
158.7
159.8
159.9
159.6
160.0
-0,2
0.3
0.8
0.7
93.4
154.4
96
101
100.2
94.8
163.0
99
103
103.4
94
165.6
99.2
105
104.7
94.9
167.8
99.3
106.3
105.6
95.1
HA
NA
NA
MA
95.4
94.9
95.0
-0.5
0.1
0.
1.
0.
0.
0.9
110.20 111.55
99.53 100.83
10,678 10,717
5,089
5,257
3,613
3,632
1,977
1,829
9,006
9,075
112.01
102.50
9,507
4,599
3,254
1,654
7,959
112.61 113.64 113.24 113.80
103.74 105.15 104.40 105.29
8,866
8,496
8,843
8,514
4,149
3,904
4,095
3,861
3,149
3,088
3,186
3,124
1,568
1,503
1,562
1,529
7,372
6,993
7.398
7,058
113.88
105.75
8,130
3,755
2,955
1,419
6,524
0.5
0.9
-3.7
-5.7
-1.9
-2.1
-4.6
0.1
0.4
-4.5
-2.7
-5.4
-7.2
-7.6
0.
1.
-6.
-9.8
-3.2
-5,2
-7.4
-4.1
-5.1
78.4
54.0
54.7
0.
0.5
0.
0.1
-0.2
0.3
-0.1
0.
0.4
0.
0.8
0.8
19.2
4.8
1.4
2.7
2.9
2.7
NA
NA
2.3
;NA
NA
NA
-25,7
3.4
NA
3,7
9.51
13.11
10.6 4
10.7 9
103.35 105.55
13.51
13.68
113.80 1 1 1 . 0 1
13.88
114.20 116.19
14.17
II. OTHER IMPORTANT ECONOMIC MEASURES
B. Prices, Wages, a n d P r o d u c t i v i t y
B l . Price M o v e m e n t s
310.
320.
320c.
322,
330.
335.
331.
332.
333.
334.
Implicit price deflator, GNP
Consumer price index (CPI), all items ©
Change in CPI( all items, S/A3
CPI, food.
Producer price index (PPI), all commodities © . .
PPI, industrial commodities ©
PPI, crude materials
PPI, intermediate materials
PPI, capital equipment
PPI, finished consumer goods
B2. Wages a n d P r o d u c t i v i t y
340. Average hourly earnings, production workers,
private nonfarm economy
341, Real average hourly earnings, production
workers, private nonfarm economy
345. Average hourly compensation, nonfarm business
346. Real average hourly compensation, nonfarm business..
370. Output per hour, private business sector
358. Output per hour, nonfarm business sector
do..,
do...
do..,
do..,
C. Labor Force, E m p l o y m e n t , a n d
Unemployment
441.
442.
37.
444.
445.
446.
447.
Labor
451.
452.
453.
Total civilian labor force
Total civilian employment
Number of persons unemployed
Unemployed males, 20 years and over
Unemployed female;;, 20 years and over...
Unemployed persons, 1619 years of age...
Number unemployed, full-time workers
Force Participation Rates:
Males, 20 years and overJ
Females, 20 years and over3
Both sexes, 16-19 years of age3
Dl.
Millions...
Thousands..,
...do
...do..
...do..
Percent
...do...
78.7
52.7
54.1
78.5
53.1
53.5
78.4
53.2
53.3
78.3
53.2
53.7
78.3
54.0
54.5
78.3
53.7
54.4
78.3
54.2
54.4
D. G o v e r n m e n t Activities
Receipts and E x p e n d i t u r e s
500.
501.
502.
510.
511.
512.
Federal Government surplus or deficit3
Federal Government receipts
Federal Government expenditures
State and local government surplus or deficit3
State and local government receipts
State and local government expenditures
517.
525.
548.
557.
570.
564.
Defense Department obligations; incurred
Defense Department prime contract awards
New orders, defense products
Output of defense and space equipment
Employment in defense products industries
National defense purchases
D2.
•148.2 - 1 7 8 . 6
616.7
641.1
764.9
819.7
32.9
44.1
441 . 9 4 7 8 . 2
409.0
434.1
-180.5
655.0
83 5.5
51 .2
495.0
443.8
-161.3
686.4
847.6
53.9
509.6
455.7
NA
NA
866.9
NA
NA
465.5
Mil. dol
...do..,
do
967 = 100...
Thousands
A.r., bil. dol...
8,908 20,635
0,718 10,787
6,772
6,256
119.9
109.4
1,355
1 ,367
200.5
179.5
21,882
9,474
7,723
124.2
1,372
207.2
22,419
14,380
8,479
129.3
1,391
213 . 4
NA
NA
6,301
133.7
NA
221.3
9,185 20,342
NA
NA
6,248 5,679
132.8
133.6
1,408 1,418
NA
NA
6,976
134.7
NA
6.0
NA
-9.1
0.6
0.7
NA
NA
22.8
0.8
NA
2.5
51.8
9.8
4.1
1.4
3.0
Mil. dol.,.
.do.,
..do...
.do..
...do.
...do...
7 , 6 94 1 6 , 7 2 2
7 , 1 3 1 17,755
3 ,053
3,011
3,088
3,330
4,007
:), 6 86
3,536
3,874
0,329 21,513 2 3 , 4 7 5 26,501
4,964
4 , 3 83 4 , 6 6 0
4,667
2,442
3 ,43 4 3 , 6 0 9
2,935
NA
NA
NA
NA
NA
NA
7,522
7,950
3,030
3,245
3,811
3,976
8 , 3 6 8 25,569
NA
NA
NA
NA
NA
NA
2.4
7.1
4.3
-9.9
-24.7
-8.2
NA
NA
NA
NA
NA
NA
3.6
7.8
5.1
12.9
0.2
5.1
A.r., bil.dol..
...do...
...do...
Defense I n d i c a t o r s
E. U.S. I n t e r n a t i o n a l T r a n s a c t i o n s
E l . Merchandise Trade
602.
604.
606.
612.
614.
616.
1A
2.2
Exports, excluding military aid shipments, total..
Exports of domestic agricultural products
Exports of nonelectrical machinery
General imports, total . ..
Imports of petroleum and products
Imports of automobiles and parts
6,348
4,011
4,7 83
3,682
Table 1. Summary of Recent Data and Current Changes for Principal Indicators—Continued
Basic data'
Series title
Unit
of
measure
Percent change
Annual average
1983
1981
1st Q
1983
2dQ
1983
3dQ
1983
4th Q
1983
1st Q
1984
2dQ
1984
3dQ
to
4th Q
1983
4th Q
to
1st Q
1984
-4.43
0.1
4.8
-1.91
2.8
4.9
-5.7
6.3
-3.13
6.7
8.9
-6.23
4.5
12.0
16.2
4.7
NA
NA
NA
NA
NA
NA
2.6
1.8
1.6
2.5
2.2
1.7
1.5
1st Q
to
2dQ
1984
II. OTHER IMPORTANT ECONOMIC
MEASURES—Con.
E2. Goods and Services M o v e m e n t s Except
Transfers Under Military Grants
667.
668.
669.
622.
618.
620,
651.
652.
Balance on goods and services1
Exports of goods and services
Imports of goods and services
Merchandise trade balance3
Merchandise exports
Merchandise imports
Income on U.S. investments abroad
Income on foreign investments in the U.S
Bit. dol....
.do.
.do...
..do.,
....do..
....do...
.do.
3.28
93.93
90.65
-7.00
59.27
66.27
21.60
13.09
-0.28
-8.23
87.36
83.05
87.65
91.28
-9.12 -15.26
52.80
50.06
61.92
65.33
20.96
19.25
14.01
13.37
-7.71
-1.37
-9,
81.36
81.11
84,
89.07
82.48
94
- 9 . 2 8 -14.87 -17,
48.74
49.25
50
63 .62 67,
58.52
18.97
17.62
20,
13.00
12.38
13,
- 1 4 . 1 3 -17.26
84.91
90.62
9 9 . 0 4 107.88
- 1 9 . 4 1 -25.64
51.83
54.16
71 . 2 4
79.80
19.61
22.79
14.49
15.17
NA
NA
NA
NA
NA
NA
NA
NA
3 4 3 1 . 7 3553.3
1 5 7 2 . 7 1610.9
6,681
6,829
1 5 6 5 . 4 1579.3
2 4 2 8 . 6 2502.2
1 1 2 4 . 3 1147.6
4,776
4,86 5
A. National I n c o m e and P r o d u c t
A l . GNP and Personal Income
200.
50.
217.
213.
224.
225.
227.
GNP, current dollars
GNP, 1972 dollars
Per capita GNP, 1972 dollars
Final sales, 1972 dollars
Disposable personal income, current dollars
Disposable personal income, 1972 dollars
Per capita disposable personal income, 1972 dollars
3304.8
1534.7
6,543
1538.3
2340.1
1095.4
4,670
A.r., bil.dol..
....do
A.r., dollars..
A.r., bil.dol..
....do
....do
A.r., dollars..
2957.8
1512.2
6,572
1500.9
2041.7
1049.3
4,561
3646.4
1640.2
6,939
1618.7
2557.6
1167.0
4,93 7
2.6
2.0
1.7
3.5
2.4
2.2
0.9
3.0
2.1
1.9
A.r., bil.dol..
....do
1849.1 1984.9 2155.9 2070.4 2141.6 2181.4 2 2 3 0 . 2 2276.5 2 3 2 6 . 7
950.5
982.5 1006.2 1015.6 1 0 3 2 . 4 1044.1 1 0 6 1 . 7
963.3 1009.2
235.4
259.4
318.7
245.1 2 7 9 . 8
299.8
310.9
284.1
276.1
140.9
146.8
177.6
140.5 157.5
167.2
173.7
159.6
156.2
730.7
775.2
857.8
757.5 801.7
823.0
841.3
7 96.9 811
360.8
368.8
396.0
363.1 3 7 6 . 3
3 83 . 2 3 8 7 . 1
378,
374.9
883.0
982.2 1074.4 1035.8 1068.6 1 0 8 5 ,
1 1 0 7 . 5 1124.4 1 1 5 0 . 2
448.8
459.8 4 7 5 . 4
483 . 4 4 8 8 . 0
466.8
482.0
475.1
477 .6
2.2
1.7
5.5
4
1.4
1.2
2.0
0.9
2.1
1.1
3.7
3.9
2.2
1.0
1.5
0.3
2.2
1 .7
2.5
2.2
2.0
2.3
2.3
1 .0
1.2
0.2
5.0
4.2
-20.0
-10.1
3069.3
1480.0
6,370
1490.4
2180.5
1058.3
4,555
3173.8
1491.0
6,379
1507.5
2261.4
1073.1
4,591
3267.0
1524.8
6,510
1530.9
2302.9
1082.0
4,619
3346.6
1550.2
6,602
1549.3
2367.4
1102.2
4 , 6 94
A2. Personal C o n s u m p t i o n Expenditures
230.
231.
232.
233.
236.
238.
237.
239.
Total, current dollars
Total, 1972 dollars
Durable goods, current dollars
Durable goods, 1972 dollars
Nondurable goods, current dollars...,
Nondurable goods, 1972 dollars
Services, current dollars
Services, 1972 dollars
..do....
..do....
..do....
..do....
..do....
A 3 . Gross P r i v a t e D o m e s t i c I n v e s t m e n t
240.
241.
242.
243.
24S.
30.
Total, current dollars
Total, 1972 dollars
Total fixed investment, current dollars
Total fixed investment, 1972 dollars
Change in business inventories, current dollars3.
Change in business inventories, 1972 dollars3
...do..
...do..
...do..
..do..
..do..
..do..
484.2
23 0.9
458.1
219.6
26.0
11.3
414.9
194.3
441.0
204.7
-26.1
-10.4
471.6
221.0
485.1
224.6
-13.5
-3.6
405.0
191.3
447.9
207.8
-42.9
-16.5
449.6
212.6
469.0
218.7
-19.4
-6.1
491.9
230.6
496.2
229.8
-4.3
0.9
540.0
249.5
527.3
242.2
12.7
7.2
6 23.8
285.5
550.0
253.9
73.8
31.6
631 . 5
286.2
577.7
264.6
53.8
21.5
9
8.2
6.3
5.4
17.0
6.3
15.5
14.4
4.3
4.8
61.1
24.4
596.5
287.0
228.9
110.3
367.6
176.8
650.5
292.7
258.9
117.0
391.5
175.7
685.5
291.9
26 9.7
116.2
415.8
175.7
678.8
294.3
273 .0
119.0
405.8
175.3
682.2
292.4
270.5
117.2
411 .6
175.2
689.8
292.0
26 9 . 2
115.6
420.6
176.4
691 .4
288.8
266.3
113.0
425.1
175.8
704.4
289.5
267.6
112.2
436.8
177.3
746.1
302.4
299.3
123.7
446.7
178.7
0.2
-1.1
-1.1
-2.2
1.1
-0.3
0
-0.7
2
0.9
28.0
43.8
369.9
160.2
341 .9
116.4
19.0
29.7
348.4
147.6
329.4
118.0
-8.3
12.6
336.2
139.5
344.4
126.9
19.6
22.9
328.5
138.2
308.9
115.3
-6.5
13.6
328.1
137.0
334.5
123.4
-16.4
11.9
342.0
141 .6
358.4
129.7
-29.8
2.0
346.1
141 .0
375.9
139.1
-51.5
-8.3
358.9
144.9
410.4
153.2
-58.0
-10.0
371.4
148.8
429.4
158.8
-13.4
-9.9
1.2
-0.4
4.9
7.2
-21.7
-10.3
3.7
2.8
9.2
10.1
-6.5
-1.7
3.5
2.7
4.6
3.7
3.1
2.7
7.0
7.5
6.1
-0.1
3.9
2
17.4
1.0
6.7
3 .1
NA
2.1
-1.3
2.3
NA
5.2
6.7
3.6
8.2
4.2
0.3
12.0
2.5
18.5
21.9
0.8
NA
NA
1 .0
NA
-0.1
A4. Government Purchases
of G o o d s a n d S e r v i c e s
260.
261.
262.
263.
266.
267.
Total, current dollars
Total, 1972 dollars
Federal Government, current dollars
Federal Government, 1972 dollars
State and local governments, current dollars..
State and local governments, 1972 dollars
250.
255.
252.
256.
253.
257.
Net exports of goods and services, current dollars3..
Net exports of goods and services, 1972 dollars3....
Exports of goods and services, current dollars . ..
Exports of goods and.services, 1972 dollars .. ..
Imports of goods and services, current dollars
Imports of goods and services, 1972 dollars
...do..,
...do..
...do..
5.9
4.5
11.8
10.2
2.3
A5. Foreign Trade
...do....
...do.
do
,.do....
...do,...
...do....
A 6 . N a t i o n a l I n c o m e a n d Its C o m p o n e n t s
220.
280.
282.
284.
286.
National income
Compensation of employees
Proprietors' income with IVA and CCAdj
Rental income of persons with CCAdj
Corporate profits with IVA and CCAdj
288. Net interest
..do..
..do..
..do...
..do...
..do...
..do...
2 3 6 3 . 8 2446.8 2646,
1765.4 1 8 6 4 . 2 1984,
111.1
121,
125.1
51.5
58,
42.3
225,
159.1
189.9
260.9
241.0
NA
2527.0 2609.0 2684.4 2766.5 2 8 7 3 . 5
1921 .3 1962.4 2000.7 2055.4 2 1 1 3 . 4 2157.9
154.9
152.9
114.7 116.9
123.3
131.9
61.0
62.4
57.7
56.2
60.4
59.0
277.4
NA
179.1 216.7
245
260.0
266.8
280.6
254.2 2 5 4 . 2
259.2 2 5 8 . 9
A 7 . Saving
290.
295,
292.
298.
293.
Gross saving (private and government).
Business saving
Personal saving
Government surplus or deficit3
Personal saving rate3
..do..
..dodo...
do..,
.Percent
484.3
372.6
137.4
-26.7
6.7
437.2
408.8
388.0
453.6
136.0
118.1
-115.3 -134.5
6.2
5.0
NOTE: Series are seasonally adjusted except for those, indicated by © , that appear to contain no seasonal
movement. Series indicated by an asterisk { * ) are included in the major composite indexes. Dollar values are in
current dollars unless otherwise specified. For complete series titles and sources, see "Titles and Sources of
Series" at the back of this issue. NA, /iot available, a, anticipated. EOP, end of period. A.r., annual rate. S/A,
seasonally adjusted (used for special emphasis). IVA, inventory valuation adjustment. CCAdj, capital consumption
adjustment.
1
The three-part timing code indicates the timing classification of the series at peaks, at troughs, and at all
turns: L, leading; C, roughly coincident; Lg, lagging; U, unclassified.
455.2 4 8 5 . 7
393.4 4 1 4 . 7
417 .0 441 .4 469.7 4 8 6 . 4
119.0 128.7
128.0
96.7
-151.7 -123 .4 -133.5 - 1 2 9 . 3
5.0
5.7
5.3
4.2
543.9
498.8
152.5
-107.4
6.1
NA
NA
154.0
NA
6.0
!
For a few series, data shown here are rounded to fewer digits than those shown elsewhere in BCD, Annual
figures published by the source agencies are used if available.
3
Differences rather than percent changes are shown for this series.
4
Inverted series. Since this series tends to move counter to movements in general business activity, signs of
the changes are reversed.
5
End-of-period series. The annual figures (and quarterly figures for monthly series) are the last figures for the
period.
6
This series is a weighted 4-term moving average (with weights 1, 2, 2, 1) placed on the terminal month of
the span.
COMPOSITE INDEXES AND THEIR COMPONENTS
Chart A L Composite Indexes
Noy. Get
P T
July May
P T
Aug. Apr.
FT
Apr. Feb.
PI
Dec. Nov.
P
T
Nov.
P
Mar.
T
Jan. July July Nov.
P T
P
T
I fndex: 1 9 6 7 * 1 0 0 1
920. Index of four roughly coincident indicators
"
(series 41,47, 51, 57)
— - ^
jr
-
7
930. Index of six lagging indicators
(series 62, 77, 91, 95,101,109)
71 78 79 @0 81 82 S3 8419SS
NOTE: Numbers entered on the chart indicate length of leads (-) and lags { + ) in months from reference turning dates.
Current data for these series are shown on page 60.
10
JULY 1984
CYCLICAL INDICATORS
COMPOSITE INDEXES AND THEIR COMPONENTS—Continued
Chart A l . Composite Indexes—Continued
July May
P T
'
Aug. Apr.
P T
Apr. Feb
P T
Dec. Nov.
P T
Nov. Mar.
P
T
Jan.Jylj/ July Nov.
F T P
T
[index: 1967=4001
914.
915.
Capital investment commitments (series 12,20,29)
Inventory investment and purchasing (series 8, 32, 36,99)
^
.—,
^ ^ ^ ^ - ^ ^ ^ ^ ^
916. Profitability (series 19,26,80)
917:
Money and financial flows (series 104,106, 111)
-12
940. Ratio, coincident index to lagging index
1948 49
50 51 §2 53 94 55 §@ §7 §8 g@ ©0 61 62 63
NOTE: Numbers entered on the chart indicate length of leads (-) and tags { + ) in months from reference turning dates.
Current data for these series are shown on page 60.
JULY 1984
11
COMPOSITE INDEXES AND THEIR COMPONENTS—Continued
Chart A2. Leading Index Components
Aii';- Apr,
P
T
£\p:, H J :
PI
P '[
T
P r
P
1
1. Average workweek, production workers, manufacturing (hours)
ILLLI
39 «
5. Average weekly initial claims, State unemployment insurance
(thousands—inverted scale) | L C L |
New orders for consumer goods and materials in 1972 dollars
(bil.dol.)
[IXX1
32. Vendor performance, percent of companies receiving slower
deliveries (percent)
GO
12. Net business formation (index: 1967 = 100)
20. Contracts and orders for plant and equipment in
1972 dollars (bil.dol.)
Current data for these series are shown on pages 61, 64, 65, and 66.
12
JULY 1984
COMPOSITE INDEXES AND THEIR COMPONENTS—Continued
Chart A2. Leading Index Components—Continued
Now. Oct.
P
July Wiay
T
P
T
Aug. Apr.
P
T
Apr. Feb.
P
Dec. Nov.
T
P
Nov.
Mar.
P
T
T
Jan. July July
P T
P
Nov.
T
^
29. New building permits, private housing units (index: 1967-100)
• r.= :_-•_:-..-,
200
36. Net change in inventories on hand and on order in 1972 dollars,smoothed1 (ann. rate, bil. do4.)
99. Change in sensitive materials prices, smoothed1 (percent)
19. Stock prices, 500 common stocks (index: 1941-43=10)
c
=
full
^^ i
^-
106, Money supply M2jn 1972 dollars (bil. doJ.)
i L L L l ""
111. Change in credit outstanding—business and consumer
borrowing (ann. rate, percent) |L t L t L|
+20'
11 73
'This is a weighted 4-term moving average (with weights 1,2,2,1) placed on the terminal month of the span.
Current data for these series are shown on pages 67, 68, 69, 7 1 , and 72.
BCD
JULY 1984
13
COMPOSITE INDEXES AND THEIR COMPONENTS—Continued
Chart A3. Coincident Index Components
Nov. Oct.
P T
July May
P T
Aug. Apr.
P T
Apr. Feb.
PI
Dec.
P
Wow. Mar.
P
T
Jan.Juiy Jufy Ksu.
P I
f»
I
41. Employees on ncflagricuitural payrofc (mions)
51. Personal nciomc less transfer payments in
1972 ddars (am. rate, bl.dol)
CXX
47. Industrial produclion, total (index: 1967=100)
57. Manufacturing and trade sales in
1972 dolars (bi. dol.)
7B
7©
71
Current data for th«« ttrtot «r« shown on pagot 62,63, and 65.
14
JULY 1984
BCII
COMPOSITE INDEXES AND THEIR COMPONENTS—Continued
Chart A4. Lagging Index Components
Nov. Oct.
P T
July May
P T
Aug. Apr.
P T
Dec. Nov.
P T
Apr. Feb.
PI
Nov. Mar.
P
T
Jan. July July Wov.
P T
P
T
91. Average duration of unemployment (weeks—inverted scale)
77. Ratio, constant-dolar inventories to sales, manufachoig
62. Labor cost per unit of output, manufacturing—actual data
as percent of trend (percent)
109. Average prime rate charged by banks (percent)
101. Commercial and industrial loans outstanding
h 1972 dolars(bi. dot.)
95.1at» t consumer:h£ufiientlre<ft to personal income (percent)
§4
55
5§
57
Current data for these series are shown on pages 62,68,70, and 73.
BCII
JULY 1984
15
B
CYCLICAL INDICATORS BY ECONOMIC PROCESS
Chart B l . Employment and Unemployment
Apr. Feb.
P
T
Dec. Nov.
p
T
NOT,
P
:
[Marginal Employment Adjustments|
'i
ij
(War.
T
Jin. July
P T
July
P
^Otf.
T
!
42-
1. Average workwefk, production workers, manufacturing (hours)
41-
40-
21. Average weekly overtime nous, production workers, manufacturing (hours)
J.
5. Average weekly initial claims, State unemployment insurance
(thousands—inverted scale)
-**1
100 T
300 «
400-
[Job Vacancies]
•«-J
«*• — --^. — -
60. Rapo help-waited a^yeftjs^g to number
of persons unemployed (ratio)
700 J
1.4-
1.0-
160-
46. Help-wanted advertising (index: 1967 ^ 1 0 0 )
140120-
83
84
S3
2L986
Current data for thsie ter(«« are shown on page 61.
16
JULY 1984
BCII
CYCLICAL INDICATORS
B
|
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued
Chart B l . Employment and Unemployment—Continued
Apr. Feb.
P
I
Jan. July July
F T P
Nov.
T
I Comprehensive Employment 1
:X.:*=^==-C-,
170 c
48. Employee-hours in noriagricultiiral flstalifetafiBls
(arm. rate, bi. hours)
|u,C,C
42. Persons engaged in nonagricultura! activities (miions)
41. Employees on nonagricultural payrols (miions)
70 =
40. Employees in goods-producing industries—mining,
manufacturing, and construction (rnlons)
27-
254
22 H)
90. Ratio, civian employment to total population of working age (percent)
5S-
1959
60
61
62
63
64
65
66
67
§8
Current data for these series are shown on pages 6 1 and 62.
JULY 1984
17
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued
Chart B l . Employment and Unemployment—Continued
Apr. Fob,
P
r
Dec.
Nov.
P
T
Mar.
P
T
Jan. July
P T
July
P
Mow
I
[Comprehensive Unemployment |
37. Number unemployed (mions—inverted scale}
11-
Unemployment rate, total (percent—inverted scale)
DO
45. Average weekly insured unemployment rate (percent—inverted scale)
HJ
91. Average duration of
(weeks—inverted scale)
nr
44. Unemployment rate, persons unemployed 15 weeks and over (percent—inverted scale)
19S® i©
©1
§2
S3
©4
65
Currtnt date for ttimt Mrl« ar« shown on pig* 62.
18
JULY 1984
3^
B
I
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued
Chart B2. Production and Income
Apr. Feb,
P
T
Dec.
Nov.
Nov.
Mar.
P
T
P
T
Jan. July
P T
July
Nov.
P
T
1 Comprehensive Output and Income)
50. GNP in 1972 dolarsjjjam. rate, ML dd.)
C.C.C
52. Personal income in 1972 dolars (arm. rate, bi. doi.)
CXX
51. Personal income less transfer payments in 1972 dolars
(am. rate, b l do].)
53. Wages and salaries in mining, manufacturing, and
construction in 1972 dollars (am. rate, bi. dol.)
Current date for thew wries *r« shown on page 63.
B C I I JULY 1984
19
B
I
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued
Chart B2. Production and Income—Continued
Apr. l e t
P
I
kn. Jciy A
t)fit,
y
(Iridustrial Production ]
47. Industrial production, total (index: 1967=100)
HJf
74. Industrial production, nondurable manufactures
(index: 1967=100)
313®
73. Industrial production, durable manufactures
(index: 1967=100)
49. Value of goods output in 1972 dollars, Q
[Capacity Utilization]
83. Rate of capacity utilization, manufacturing (BEA), Q (percent)
82. Rate of capacity utilization, manufacturing (FRB), Q (percent)
Ill
84. Rate of capacity utilization, materials, Q (percent)
n
74
7§
Current data for these tenet ure shown on pages 63 and 64.
20
JULY 1984
B
I
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued
Chart B3. Consumption, Trade, Orders, and Deliveries
Apr. Feb.
P T
Dec. Nov.
P
T
Nov.
Mar.
P
T
Jan. July
P
T
July
Nov.
P
T
I Orders and Deliveries |
6. New orders, durable goods industries, in
current dolarf( H . doL)"
8. New orders for consumer goods and materials
in 1972 dollars (bil, d o l ^
L.L.L
25. Change in unfilled orders, durable goods industries
(bH. dol.; MCD moving avg.—4-term)
U~L
96. Manufacturers unfilled orders, durable goods industries
(bO. dol.)
IT17D
32. Vendor performance, percent of companies
receiving slower deliveries (percent)
Current data for these series are shown on page 64.
ItCII JULY 1984
21
B
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued
Chart B3. Consumption, Trade, Orders, and Deliveries;—Continued
Apr. Hih
P
I
Dee.
Nov.
P
T
[War.
P
T
Jan. Julj
P T
[\)8W
P
T
| Consumption and Trade]
56. Manufacturing and trade sales in current dolars
(ULdoL)
E U
Manufactumg am) trade sales
Industrial production
54. Sales of retail stores in current dolars (bi.'dol)
CLU
59. Sales of retal stores in 1972 dolars (bi. dol.)
55. Personal consumption experiSSires,
automobies, Q (arm. rate, bi. dol.)
LCX
58. Index of consumer sentiment (1st Q 1966=100)
I
Current data for t h t t e strias ar« shown on page 65.
22
JULY 1984
B
I
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued
Chart B4. Fixed Capital Investment
Apr. Feb.
P T
Dec. Nov.
P -T
Nov.
Mar.
Jan. July
P T
July
P
Nov.
T
1 Formation of Business Enterprises 1
13. New business incorporations (thousands)
30-
25 *
10. Contracts and orders for plant and equipment
in current dollars (bl. dol.) f l J T
[Business Investment Commitments!
20. Contracts and orders for plant and equipment
inl972do«ars(bldol.)
L
24. Manufacturers' new orders, capital £oods industries,
nondefense, in current doiars (bl. dol.)
^
IXX
. Manufacturers' new orders, capital goods industries,
nondefense, in 1972 doiars (hi. dol.)
Construction contracts, commercial and industrial buildings
. ft. of floor area; MCD moving avg.-6-term)
C.U
50 H
'This it * copyrlghttd sariat used by permission; it may not be reproduced without written permission from McGraw-Hill Information Systems Company, F.W. Dodge Division.
Current data for these series are shown on pages 65 and 66.
B C D JULY 1984
23
B
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued
Chart B4. Fixed Capital Investment—Continued
Apr. h a
Dee.
New.
Kov.
Mar,
P
T
P
T
Jan. July
P
T
July
Mow.
P
T
120-
no-
| Business Investment Commitments—Con.
1009080*
70-
97. Backlog of capital appropriations, manufacturing, Q
(1**0
« *
40-
25-
20-
15-
11. New capital appropriations, manufacturing,
,m*
10 Ji
360320280240-
61. Business expenditures tot' new plant and equipment, Q
(arm. rate, H. doL)
200-
-J
160400360320 -
[Business Investment Expenditures!
28§«
240—
200-
-
160-
. Machinery and equipment sales and business
120J
C,
76. Industrial production, business equipment
(index: 1967-100)
180160140120100-
60
J
Current data for these terlet are thown on pages 66 and 67.
24
JULY 1984
UCII
CYCLICAL
B I
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued
Chart B4. Fixed Capital Investment—Continued
Apr. Feb.
P
I
Dec. Nov.
P
T
Nov.
P
Jan. July
P T
July
P
Nov.
T
I Business Investment Expenditures—Con7|
Nonresidentiat fixed investment in 1972 dollars, Q (aim. rate, bii. doi.)
86. Total, Q
88. Producers'durable equipment, Q
1 Residential Construction Commitments and Investment 1
28. New private housing units started (arm. rate, miions)
29. New biMig permits, private housing units (index; 1967=100)
89. Residential fixed investment in 1972 dolars, Q
(arm. rate* bi. dol.)
fETTl
1959 60
oo-
61
Current data for these series are
JULY 1984
25
CYCLICAL INDDCATO^S
B
I
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued
Chart B5. Inventories and Inventory Investment
hpr, Feb.
P f
Dee. Nov.
P T
| Inventory Investment]
Jan. July
P T
Nov. Mar.
r
P
July New.
P
T
30. Change in business inventories in 1972 dolars, Q (aim. rate, bi. dol.)
36. Net change in inventories on hand and on order in 1972 dolars
(arm. rate, bi. dol.; moving avg.~-4-term1)
31. Change in book value, manufacturing and trade inventories
(arm. rate, bi. dol.; MCD moving avg.-6-term) ^
38. Change in stocks of materials and supplies on hand and on order;
manufacturing (bi. dol.; MCD moving avg.—4-term)
iLLLl
^.--....---,-1
7?
1
Thli It a weighted 4-terrn moving averag* (with weights 1,2,2,1) placed on the terminal month of the span.
Current data for these series are shown on page 68.
26
JULY 1984
+|
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued
Chart B5. Inventories and Inventory Investment—Continued
Apr. Feb.
P
T
Dec.
Nov.
Nov.
Mar.
P
T
P
T
| Inventories on Hand and on Order]
Jin. July
P
T
July
Nov.
P
T
600 <=
71. Manufacturing and trade inventories,
book value (bl. dol.) ^
70. Manufacturing and trade inventories in 1972 dolars (bi. dol.)
65. Book value of manufacturers' inventories
of finished goods (bldof.)
77. Ratio, constant-doiar inventories to sales, manufacturing and trade
(ratio)
22®-
78. Stocks of materials and supples on hand and on order,
manufacturing (bi. dol.) | | j . f c ^ ]
120-H <
Current data for these series are shown on page 68.
BCII
JULY 1984
27
B
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued
Chart B6, Prices, Costs, and Profits
Apr. l-«b.
p
i
P
| Sensitive Commodity Prices]
T
Nov.
P
Mar.
T
Jan. July
P T
k\\j
P
Wev.
I
98. Change in producer prices for 28 sensitive materials
(percent; MCD moving avg.—6-term)
44°
DO
99. Change in sensitive material;; prices (percent; moving
avg.-4-term 1 ) | L , L , L |
Kit
23. Spot market prices, raw industrials2 (index: 1967-100)
19. StockjKices, 500 common stocks (index: 1941-43=10)
I LL.L f
[Profits and Profit Margins
18. Corporate profits after taxes in 1972 dollars, Q
(ann.rate,bi.dol.) fiTTl
120'
16. Corporate profits after taxes in current dollars, Q
'This It a weighted 4-term moving average (with weights 1,2,2,1) placed on the terminal month df the span.
'Beginning with data for June 1 9 8 1 , this It a copyrighted series used by permission; it may not be reproduced without written permission from Commodity Research Bureau, Inc.
Current data for these series are shown on page 69.
28
JULY 1984 B C D
B
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued
Chart B6. Prices, Costs, and Profits—Continued
Apr.
Feb.
P
T
Wov.
P
Dec. Wot/.
P
T
Mar.
T
Jan. July July
F T P
Wov.
T
[Profits and Profit Margins—Con,[
79. Corporate profits after taxes with IVA and CCAdj in
current dollars, Q (ann. rate, bil. dol.)
Corporate profits after taxes with IVA and CCAdj in
1972 dollars, Q (ann. rate, bil. dol.) ^ j j
22. Ratio, corporate profits after taxes to corporate domestic
310 H
81. Ratio, corporate profits after taxes with IVA and CCAdj
to corporate domestic income, Q (percent)
I L l r o f i t i j f t e r J a x e s perdoilar of sales, a| manufacturing ( ^ ^ ^ ^ ( c m t s J L
Li i
Jatio, g j i f e u n i t labpr cost, nonfarm business sector, Q (index: 1977=100)
_~_ftuL " . " " " .
1
| Cash Fiows
34. Net cash flow, corporate, in current dollars, Q - ^
35. Net cash flow, corporate, in 1972 dollars, Q
(ann. rate, bil. dol.) ["["["[
Current data for these series are shown on pages 69 and 70.
IICII
JULY 1984
29
B
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued
Chart B6. Prices, Costs, and Profits—Continued
Apr. his.
p
Der,.
P
r
•fttov.
NOV.
Jan. July
P T
Mar.
T
July
P
Nov.
T
I Unit Labor Costs and Labor Share I
63. Unit labor cost, private business sector, Q
(index: 1977=*100)
68. Labor cost in current dolars [ier unit of real gross domestic product,
noofkiancial corporations, Q (iJolars)
Eel
62. Labor cost per unit of output, manufacturing (index: 1967=100)
L
64. Compensation of employees a:; a percent of national income,
Q (percent)
7$
71F
§3
Current data for thtse »rie» are shown on page 70.
30
JULY 1984
B
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued
Chart B7. Money and Credit
Apr. Feb.
P T
Jan. July
P T
Dec. Nov.
P T
85. Change in money supply Ml
'
July Nov.
P
T
^
(percent; MCD moving avg.—6-term) | L , L , L | "
1.2 =
0.0 «
102. Change in money supply M2
(percent; MCD moving avg.—6-term)
104. Change in total liquid assets (percent; moving avg.—4-term1) |L,L,L
t!ie~*5d&i.*iir »• - * • --X
-iV
105. Money supply M l in 1972 dollars (bit. dol.)
(TXI!
106. Money supply M2 in 1972 doiars (bi. dol.)
107. Ratio, GNP to money supply M l , Q (ratio)
C.C.C
jVelocity of Money!
108. Ratio, personal income to money supply M2 (ratio)
it
73
"This is a weighted 4-term moving average (with weights 1,2,2,1) placed on the terminal month of the span.
Current data for these series are shown on page 7 1 .
BCD
JULY 1984
31
B
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued
Chart B7. Money and Credit—Continued
p
Dec. Now.
P
T
i
Hm.
P
Mar.
I
July
July
Nov.
I
P
T
| Credit Flows]
33. Change in mortgage! debt (arm. rate, b l dot)
1X1 c~"
+100+ 80"
112. Change in business loans (ann. rate, bi. dof.;
MCD moving avg.-*Merm) [~fI T ]
*1
+ 20Hi*
=
20*
113. Change in consumer instalment credit (ann?rate/&a: M )
ul
H I . Change in credit outstanding—business and consumer
borrowing (ann. rate, percent) r p j
w
+39'
+ 20'
+ 100-10-
400
3S0-
110. Total private borrowing, Q (am. rate, bl. d d j
250'
150-
109'
50'
Current data for these series are shown on pages 7 1 and 72.
32
JULY 1984
B
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued
Chart B7. Money and Credit—Continued
Apr. Feb.
P T
Dec.
Nov.
Nov.
Mar.
P
I
p
T
Jan. July
P
T
July
Nov.
P
T
1 Credit Difficulties 1
j 14. Current liabilities of business failures (mil. do).it
inverted scale; MCD moving avg.—6-term)
109-
_ _ _ ^
39. Delinquency rate, 30 days and over, consumer installment loans
(percent—inverted scale) I Q |_|
2®00-
94. Member bank borrowing from
the Federal Reserve (bH. dol.)
19§9 60
61
©2
®3
64
Current d»ta for these series are shown on page 72.
JULY 1984
33
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued
Chart B7. Money and Credit—Continued
Apr.
l-'fib.
P
T
Dee,
P
Nov.
T
Nov.
P
iViar.
T
Jan. July
P T
July
P
Nov.
I
[interest Rates!
119. Federal funds rate
LL
. Treasury b l rate
(percent)
116. Corporate bond yields (percent)
115. Treasury bond yields (percent)
Cl
117. Municipal bond yields (percent)
7B
Current data for these series are shown on pages 7 2 and 73.
34
JULY 1984
Bill
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued
Chart B7. Money and Credit—Continued
Apr. Feb.
P T
Dec,
Nov.
Nov.
Mar.
P
T
P
T
Jan. July
P
T
July
Nov.
P
T
^-~—H
20-
[Interest Rates—Con, |
17«
16 =
67. Bank rates on short-term business loans, Q (percent)
12 =
11-
50©-
109. Average prime rate charged by banks (percent)
[Outstanding Debt]
66. Consumer instalment credit (bi. doO
= -
J
150 -
300-
220 4
72. Commercial and industrial bans outstanding in current
dolars (ML dol.)
101. Commercial and industrial loans outstanding in 1972 dollars
95. Ratio, consumer instalment credit to personal income (percent)
Current data for these series are shown on page 73.
BCD
JULY 1984
35
C
DIFFUSION
INDEXES
AND
RATES OF
CHANGE
Chart C I . Diffusion Indexes
Apt
f ••«:].
P
T
Oee.
P
fc
T
P
r
| Percent rising]
950. Twelve leading indicator components (6-mo. s p a n — , 1-mo. span-—)
951. Four roughly coincident indicator components (6-mo. span
, 1-mo. s p a n — )
' U'fl'l 'iSlfiMlWUill
952. Six lagging indicator components (6-mo. s p a n — , 1-mo. span^—)
961. Average workweek, production workers, manufacturing—20 industries (9-mo. span
, 1-mo. s p a n — )
962. Initial claims, State unemployment insurance—51 areas (percent declining; 9-mo. s p a n — , 1-mo. s p a n — )
DO
: .Ji
963. Employees on private nonagricultural payrolls—172-186 industries (6-mo. s p a n — , 1-mo. s p a n — )
ml
Current data for those series are shown on page 74.
36
JULY 1984
CYCLICAL BINODOATOIRS
C
DIFFUSION INDEXES AND RATES OF CHANGE—Continued
Chart C l . Diffusion Indexes—Continued
Apr. Feb.
P
T
Dec. Nov.
P
T
Nov.
P
Jan, July
P T
iar.
T
July
P
Hw.
T
| Percent rising]
964. New orders, durable goods industries—34-35 industries
(9-mo. s p a n ^ , 1-mo. s p a n — )
«=^)
100 c:
50-
965. Jewjy^apffoygdjcapital appropriations. deMe^
70-
5©-
966. Industrial production—24 industries (6~mo. s p a n — ,
50-
967. Spot market prices, raw industrials—13 industrial materials (9-mo. s p a n — , 1-mo. span-—)
fl^;' '
968. Stock prices, 500 common stocks—47-82 industries (9-mo. s p a n ^ , 1-mo. s p a n — )
960. Net profits, manufacturing—about 600 companies1 (4-Q span)
so7©-
===^-==«..==JJ
36^
71
'This is a copyrighted series used by permission; it may not be reproduced without written permission from Dun & Bradstreet, Inc.
Current data for these series are shown on page 75.
JULY 1984
37
DIFFUSION INDEXES AND RATES OF CHANGE—Continued
Chart Cl. Diffusion Indexes—Continued
Jan. My
Nov.
P
P
T
July
Now.
P
P
Actual
~ Anticipated • • •
[Percent rising]
Jan. July
Mar
p T
I
July
Key.
p
r
Actual
Anticipated
[Percent rising]
—*—
•••••••
970. Business expenditures for new plant and
equipment—21 industries (1-Q span)
(a) Actual expenditures
974. Number of employees, manufacturing and trade (4-Q span)1
70-
975. Level of inventories, manufacturing and trade (4-Q span)1
(a) Actual expenditures
im
iff
971. New orders, manufacturing (4-Q span)1
976, Seing prices, manufacturing (4-Q span)1
10090 89 «
7fH
972. Net profits, manufacturing and trade (4-Q span)1
977. Seing prices, wholesale trade (4-Q span)1
\
V70-
973. Net sales, manufacturing and trade (4-Q span)1
978, Seing prices, retal trade (4-Q span)'
100-
mi
js^m.
W72
7%
74.
7B
7B
77
7B
79
SO
81
82
©3 IBB®
VB72 73
J4
7S
76
77
78
79
80
SI
B2
n^
83 1S84
'This Is a copyrighted series used by permission; it may not be reproduced without written permission from Dun & Bradstreet, Inc. Dun & Bradstreet diffusion indexes ara based on survtys of about 1,400
business executives.
Current data for these series are shown on page 76.
38
JULY 1984
BCII
DIFFUSION INDEXES AND RATES OF CHANGE—Continued
Chart C3. Rates of Change
Apr. Feb.
P T
Dec. Nov.
P
T
Nov.
Mar.
P
T
Jan. July
P T
July
P
Now.
T
1-month spans
3-flHmth spans — -
1 Percent change at annual rate]
910c. Composite index of 12 leading indicators
+20 =
1
=10-
920c. Composite index of four roughly coincident indicators
+10<=
930c. Composite index of six lagging indicators
47c. Index of industrial production
50c. GNP in 1972 dollars (1-0 span)
48c. Employee-hours in nonagricuttural establishments
••15-
51c. Personal income less transfer
payments in 1972 dollars
l©i®
6©
SI
§2
©3
S^
©S
6S
©J
o^
t^
7J
/i
.
|
/^
/^
/I
n
"6
77
79
?O
OO
03,
8^
o3
04
Ob 1SGG
NOTE: Data for these percent changes are shown occasionally in appendix C. The "Alphabetical Index—Series Finding Guide" indicates the latest Issue In which the data for each series were published.
ItClft
JULY 1984
39
©YU[?M UW^MJMl
A
EOO^OiSDC MEASURES
NATIONAL INCOME AND PRODUCT
Chart A l . GNP and Personal Income
Apr. M * .
Dec. Wow.
P
T
Nov.
P
Mm.
T
Jan. July July
F T P
Nov.
T
200. GNP in current dolars, Q (arm. rate, bil.dolj
223. Personal income in current dollars
(ann. rate, bit. dol.)
224. Disposable personal income in current
doiars, Q (arm. rate, bl. dol.)
213. Final sales in 1972 dollars, Q {ann, rate, MLJd).
1400 -
225. Disposable personal income in 1972
dolars, Q (arm. rate, bH. dol.)
600
J
217. Per capita GNP in 1972 dota&Q.(gn. rrt
/
p disposable personal incomeJnu
1972 dolars,
Q (ann. rate, thous. dol.)
s®
<BI
H2 as m
s s sa i
Current data for these series are shown on pages 63 and 80.
40
JULY 1984
BCII
OTHER IMPORTANT B O T O W K MEASUIfi
IA I
NATIONAL INCOME AND PRODUCT—Continued
Chart A2. Personal Consumption Expenditures
Apr. Feb.
P T
Dec. Nov.
P
T
Nov.
P
Mar.
T
Jan. July July
F T P
Nov.
T
Personal consumption expenditures—
[Annualrate, bion dollars (1972)|
195S 60
61
Current data for these series are shown on pages 80 and 8 1 .
ItCII JULY 1984
41
A
NATIONAL INCOME AND PRODUCT—Continued
Chart A3. Gross Private Domestic Investment
Apr.
Fit.
Dec.
Nov.
Nov.
Mar.
P
1
P
T
3
T
Jan, July
P
I
July
Wov.
:;
T
Annual rate, bflon doiars (current) |
Gross private domestic investment—
245. Change in business inventories, Q
1 Annual rate, bion doiars (1972) |
241. Total, Q ^
W. Total fixetfiivesjment, Q
30. Change in business inventories, Q
Current data for those series are shown on page 8 1 .
42
JULY 1984
A
NATIONAL INCOME AND PRODUCT—Continued
Chart A4. Government Purchases of Goods and Services
Dec.
P
Apr. Feb.
P
T
Nov.
I
Nov.
Mar.
P
T
Jan. July
F
T
July
P
Nov.
T
| Annual rate, biffon dollars (current)!
C o m m e n t purchases of goods and services—
266. State and local
governments,
[Annual rate, biHion dollars (1972) [
263. Federal Government, Q
1959
6©
61
62
S3
©4
6S
Current data for these series are shown on page 8 1 .
ItCIt
JULY 1984
43
CITHER ISiPO^T^NT ECONOMIC ME^SUiES
I A I
NATIONAL INCOME AND PRODUCT—Continued
Chart A5. Foreign Trade
Apr,
P
Fex
T
Dee.
P
Nev.
Kiev.
Mar.
T
P
T
Jan. July
P
T
July
Nov.
P
T
Annual rate, billion dollars (current))
•
3M'
252. Exports of goods and services, Q
S0<
253, Imports of goods and services, Q
250. Net exports of goods and services, Q
+ 30^
Oio
Annual rate, bilion dollars (1972)|
~"
256. Exports of goods and services, Q—-,
7rimpwts of goods amf services, Q
255. Net exports of goods and services, Q
Current data for these series are shown on page 82.
44
JULY 1984
KCII
NATIONAL INCOME AND PRODUCT—Continued
Chart A6. National Income and Its Components
Apr.
Feb.
Dec,
Nov.
Nov.
Mar.
P
T
P
T
P
T
Jan. July
P
T
July
P
T
[Annual rate, bifton dollars (current)]
220. National income, Q
. Compensation of employees, Q
288. Corporate profits with inventory valuation and capital consumption
adjustments, Q
288. Net interest, Q
Proprietors' income with inventory valuation and
capital consumption adjustments, Q
284. Rental income of persons with capital
consumption adjustment, Q
Current data for these series are shown on page 82.
BCII
JULY 1984
45
©iu\m wmmmumr E
I A
NATIONAL INCOME AND PRODUCT—Continued
Chart A7. Saving
Apr. Sub.
P
T
Dee.
P
fc
Nov. •
T
Jan. July
P 7
P
My
t1
Nov.
I
[Annual rate, faion dollars (current)!
290. Gross saving (private and government),Q
298, Government surplus or deficit, Q
73
7<
Current data for thes« »«ri«s are shown on pages 82 and 83.
46
JULY 19«4
NATIONAL INCOME AND PRODUCT—Continued
Chart A8. Shares of GNP and National Income
Apr.
Feb.
Dec.
Nov.
Nov.
Mar.
P
T
P
T
P
T
Jan, July
P T
July
P
"""]
[Percent of GNP|
;.
1, .
Nov.
T
i'
| Percent |
,i
i
235. Personal consumption expenditures, Q
*s
20
268. State and local government purchases
of goods and services, Q
265. Federal Government purchases of goods and services, Q
248. Nonresidential fixed investment, Q
249. Residential fixed investment, Q
^ 2 4 7 . Change in business inventories, Q
251. Net exports of goods and services, Q
64. Compensation of employees, Q
75
70
237. Corporate profits with inventory valuation and
capital consumption adjustments, Q
283. Proprietors' income with inventory valuation
and capital consumption adjustments, Q
285. Rental income of persons with capital consumption adjustment, Q
19S9
§0
%l
<B2
S3
64
S5
72
73
7®
77
Current data for these series are shown on page 83.
BCII JULY 1984
47
mum mmmmr
B
I
PRICES, WAGES, AND PRODUCTIVITY
Chart Bl. Price Movements
Nov.
Mar.
p
r
Jan. July July
P I P
Nov.
P
Nov.
F
[Index: 1972=1001
H
Jan. July
? T
Mar.
T
310c. Irnpicit price deflator,
GNP(l-Qspan)
July
P
Nov.
T
| Percent change at annual rate |
310.
311c. Fixed-weighted price index, gross business product (1-Q span)
Fixed-weighted price inde
330c. Al commodities
Producer pnces—
335c. Industrial commodities
330. AN commodities
335. Industrial commodities
331c. Crude materials
331. Crude materials
332. Intermediate materials
""332c. Intermediate materials
333c. Capital equipment
333. Capital equipment
. Finished consumer goods
H§72 73
/fl
//§
76
7?
?8
/9
334c. Finished consumer goods
Q®
Current data for these serlei are shown on pages 84, 85, and 86.
48
JULY 1984
BCD
OTHER BMPORTANT ECOiOMBC I
B
I
PRICES, WAGES, AND PRODUCTIVITY—Continued
Chart B l . Price Movements—Continued
Apr, Feb.
P T
Dec.
P
Wov.
T
Nov.
P
to.
T
Jan. July
P T
July
P
Nov.
T
1 Index: 1967 = 1001
Chart B 2 . Wages and Productivity
I Index: 1977=1001
2M-
[Wages
341. Real average hourly earnings of production
workers, private nonfarm economy1
. Average houriy earningso(prSuctwnwwkersi
private nonfarm economy (current dollars)1
346. Real average hourly compensation, aH employees,
nonfarm business sector, Q
\
345. Average hourly compensation, all employees,
nonfarm business sector, Q (current dollars)
1959 60
63L
'Adjusted for overtime (in manufacturing only) and interindustry employment shifts and seasonality.
Current data for these series are shown on pages 84, 87, and 88.
ItCII
JULY 1984
49
PRICES, WAGES, AND PRODUCTIVITY—Continued
Chart B2. Wages and Productivity—Continued
Apr.
hib.
P
T
Noy.
P
Dec. Mow.
P
T
| Wages—ConTI
Mar.
T
Jan. July
P T
July
P
Nov.
T
[Percent change I
6-month spans (aim. rate)
Change in average hourly earnings of production
workers, private nonfarm ^ y ^ ^
340c. Cutrent-dolar earnings Y
mm."
341c. Real earnings l ^ S
Change in average hourly compensation, a! employees,
nonfarm business sector, Q—
345c. Current-dollar compensation
"T-<par!¥ spans"(ann,TaTeT^
*
UScTTieal compensatKin
Negotiated wage and benefit decisions, al industries—
34B+ First year average changes, Q (arm. rate
349. Average changes over life of
contract, Q (ann. rate)
I index: 1977=1001
1 Productivity!
II®
358. Output per hour, al persons,
nonfarm business sector, Q
70-
370c. Change in output per hour, private business sector, Q
J
(31
$2
S3
m
63
SS
S7
6®
©9
7©
71
72
[ Percent change)
73
J^
75
7©
77
78
7©
S©
SI
§2
S3
84
©§ 1 » >
Adjusted for overtime (tn manufacturing only) and interindustry employment shifts and seanonality. 'One-month percent changes have been multiplied by a constant (12) to make them comparable
with the annualized 6-month changes. See page 87 for actual 1-month percent changes.
Current data for those series are shown on pages 87 and 88.
50
JULY 1984
©THEIR
C
I
DisromEW E©@M©me ME^SU^ES
LABOR FORCE, EMPLOYMENT, AND UNEMPLOYMENT
Chart C l . Civilian Labor Force and Major Components
Apr. Feb.
P T
Dec. Nov.
P
T
P
T
Jan, July
P T
July
P
Mov.
T
130120 =
441. Civilian labor force (milions)
MO-
Labor force participation rates (percent)—
451. Males 20 years and over
453. Both sexes 16-19 years of age
. Females20 years andover
Number unemployed (mions)—
37. Total unemployed
444. Mates 20 years
and over
4457Temies20y1ars
and ove
446. Both sexes 16-19 years of age
12
1
no 4
447. Number unemployed, full-time
workers (millions)
employed part-time for economic
reasons (milions)
Current data for these series are shown on page 89.
BCII
JULY 1984
51
GOVERNMENT ACTIVITIES
Chart D l . Receipts and Expenditures
Apr. !• fit,
P
f
Nov.
P
Mar.
M July July
P I P
T
New.
I
[Annual rate, biion dollars (current)!
502. Federal Government expenditures, Q
CJ
501. Federal Government receipts, Q
500. Federal Government surplus or deficit, Q
•*•-/.
M
^ -22M**
ELI
511. State and local government receipts, Q
20® «
512. State and local government expenditures, Q
510. State and local government surplus or deficit, Q
:mi
Current data for these series are shown on page 90.
52
JULY 1984)
BCII
OTHER IMPORTANT ECONOMIC MEASURES
GOVERNMENT ACTIVITIES—Continued
Chart D2. Defense Indicators
Jan, July
F
T
July
P
Nov.
T
| Advice Measures of Defense Activity |
517. Defense Department gross obligations incurred
(bii. dol.; MCD moving avR.-6-term)
525. Defense Department military prime contract awards
(bil. do!.; MCD moving av&—6-term)
•!
543. Defense Department gross unpaid obligations outstanding (bil. dot.)
548. Manufacturers new orders, defense products
(bil. doi.; MCD moving aug.—jjrteriq),
1959 60
©1
62
63
64
69
66
67
68
69
70
71
72
73
74
nn
75
.^.,,,VWLL. _
7©
v
77
11.»
78
79
80
81
82
83
84
85 1986
Current data for these series are shown on page 90.
ItCII JULY 1984
53
r^NT E<S®W®MO©
GOVERNMENT ACTIVITIES—Continued
Chart D2. Defense Indicators—Continued
Apr. Mi
P
I
P
T
Mow.
P
Mar.
T
Jan. Juiy
P T
July
p'
ito.
T
1 Intermediate and Final Measures of Defense Activity]
557. Output of dcifensciand space e q i ^ n t ( M e x : 1 9 6 7 - 1 0 0 )
559. Manufacturers inventories, defense products (bl. dot.)
561. Manufacturers untiled orders, defense products (DM. dot.)
580. Defense Department net outlays;, mitary functions and mitary
assistance (bi. do*.; MCO moving avg.—6-term) s "
588. Manufacturers'shipments, defense products
(bi. dol.; MCD moving avg—4-term)
Current data for these teriet are ihown on page 9 1 .
54
JULY 1984
BCII
T
GOVERNMENT ACTIVITIES—Continued
Chart D2. Defense Indicators—Continued
Apr. Feb.
P T
Dec. Nov.
P
I
Nov.
Mar.
P
T
Jan. July
P T
July
P
Nov.
T
[Intermediate and Final Measures of Defense Activity—Con,|
570. Employment in defense products industries (mion$)
1.2«
Defense Department personnel (miions)—
3.5-j
3.0 =
2.5 =
2.0 =
578. Civian, direct hire employment
1.5-
1.0-
0.S-
[National Defense Purchases)
564. Federal Government purchases of goods and servtces for national"
defense, Q (ana rate, U. dol.) '
565. National defense purchases as a percent of 6NP, Q (percent)
7-
19S®
SO
(S3,
Current data for these w r i e t are shown on page 9 1 .
L I P JULY 1984
55
U.S. INTERNATIONAL TRANSACTIONS
Chart E l . Merchandise Trade
Apr,
p
Dec.
hit).
i
Nov.
P
Mar.
T
Jan, July
P T
July
P
Wov,
T
16—
12-1
~~
3-
602. Exports excluding mitary aid shipments
(bil. do).; MCD moving avg.-5-terrn)
jj
:
604. Exports of domestic agricultural products
(ULdoL)
606. Exports of nonelectrical machinery
(bi. dot.)
—I
•—- —
30-
14-
612. General imports (hi dot.; MCD moving avg.-4-term)
8.07.06.0-
4.03.0-
'i
614. Imports of petroleum and petroleum products
(bLdoL)
X
2.G-
616. Imports of automobiles and parts (bi. do).)
0.3-
Current data for thetie Keries are shown on page 92.
56
JULY 1984
ItCII
E
U.S. INTERNATIONAL TRANSACTIONS—Continued
Chart E2. Goods and Services Movements
Apr.
Feb.
Dec.
Nov.
Nov.
Mar.
P
T
P
T
P
T
Jan, July
P
T
July
Nov.
P
T
1 Annual rate, bffion dollars 1
Excess of receipts
[ i i l i i i Excess of payments
Goods and services667. Balance on goods and services, Q
^ 6 6 9 . Imports, Q
Merchandise, adjusted—
622. Merchandise trade balance
\
620. Imports, Q
Investment income—
651. Income on U.S. investments abroad, Q
652; Income SioreignlvestSents in the O.S., Q
1959 60
S3.
62
(S3
6#
65
66
67
7%
7<§> 1 1
Current data for these series are shown on page 93.
JULY 1984
57
INTERNATIONAL COMPARISONS
Chart F l . Industrial Production
Dee. Nov.
P
T
Apr. Uh
P
I
NOT.
(>
Mar.
T
Jan. July Juty
F T P
Wov.
T
I Index: 1967 = 1001
Industrial production
721. OECD European cot^trief;
1'
S29-
725. West Germany
.Li],
B
Q]
80-
723. Canada
Currant data for th«t« svries ure shown on pag* 94.
58
JULY 1984
ICCIt
INTERNATIONAL COMPARISONS—Continued
Chart F2. Consumer Prices
Nov.
P
Mar.
T
Chart F3. Stock Prices
Jan. July July
F T P
| Percent change at annual rate
Nov.
T
P
Jan. July
P T
T
July
P
Nov.
T
I Index: 1967=1001
Stock prices-
Consumer prices—
IB
17
in
82. ss mm
Current data for thete tertes are shown on pages 93 and 96.
I t C I ) JULY 1984
59
CYCLICAL INDICATORS
A
COMPOSITE INDEXES AND THEIR COMPONENTS
Q j
910. Index of
12 leading indicators (series
1, 5.8, 12, 19,
20, 29, 32, 36,
99, 106, 111)
Year
and
month
(1967 = 100)
920. Index of
4 roughly
coincident indicators (series
41, 47, 51, 57)
(1967-100)
930. Index of
6 lagging indicators (series
62,77, 91,
95, 101, 109)
(1967 = 100)
COMPOSITE INDEXES
940. Ratio,
coincident
index to
lagging index
(1967-100)
Leading indicator subgroups
914. Capital
investment
commitments
(series 12, 20,
29)
(1967 = 100)
915. Inventory
investment
and purchasing
(series 8, 32, 36,
99)
(1967 = 100)
917. Money
and inancial
flows (series
104, 106, 111)
916, Profitability (series
19, 26, 80)
(1967-100)
(1967 = 100)
1982
X
135.1
135.7
134.7
138.4
139.9
139.2
126.1
125.3
125.1
109.8
111.7
111.3
104.2
104.2
104.0
96.7
96.5
96.6
94.5
93.2
92.6
123.3
122.1
122.2
April
May
June
136,0
136.2
135.5
138.0
138.8
137.3
125.9
125.1
124.8
109.6
111.0
110.0
104.9
104.2
102.9
96.4
97.1
97.6
93.1
93.0
92,4
123.0
122.4
122.2
July
August
September
136.2
136.1
137.5
136.4
135.2
134.5
124.3
122.3
121.4
109.7
110.5
110.8
103.9
102.9
103.4
97.8
98.1
98.3
92.6
92.4
93.9
122.5
124.5
124.2
October
November
December
138.6
139.4
140.9
132.9
132.7
132.6
120.2
118.2
116.7
110.6
112.3
113.6
104.7
105.4
107.0
98.0
97.0
96.4
95.0
95.5
96.4
122.7
122.5
122.5
145.2
147.4
150.2
134.3
133.5
134.6
115.7
115.8
114.4
116.1
115.3
117.7
106.3
107.0
107.2
97.7
99.2
101.3
97.6
98.6
100.5
127.2
129.1
129.8
152.5
154.4
157.3
135.6
137.9
139.8
113.5
111.0
109.8
119.5
124.2
127.3
107.7
109.3
110.3
101.9
102.3
102.5
102.5
104.6
105.7
129.7
129.0
131.5
July
August
September
158.2
rl58.9
rl60.2
140.7
rl40.8
rl43.2
109.7
rll0.3
109.8
128.3
rl27.7
rl30.4
r!09.4
108.9
rlO9.5
103.1
rlO4.4
rlO4.7
HO6.5
rlO6.8
rlO7.9
132.4
132.0
130.2
October
November
December
rl62.5
rl62,6
rl63.5
rl44.7
rl45.7
rl47.3
rlO9.9
rll0.3
rlll.l
rl31.7
rl32.1
rl32.6
110.6
110.2
109.4
r!05.4
rlO5.2
rlO6.1
rlO8.6
rlO9.O
H09.2
131.0
132.0
rl33.9
164.7
167.0
rl67.5
149.4
rl50.6
rl51.0
rlO9.8
111.7
rll3.3
E>rl36.1
rl34.8
133.3
110.5
B>112.2
111.1
r106.1
rlO6.9
rlO7.6
E)rlO9.6
rlO8.8
(NA)
133.6
rl35.1
rl36.4
168.3
E>168.9
2
167.4
rl52.6
153.9
E) 3 155.0
rll4.9
116.9
©'117.6
rl32.8
rl31.7
P131.8
111.2
rill.3
pllO.7
rlO7.8
E>rl07.9
P106.3
January
February
March
1983
January
February
March
'
April
May
June
1984
January
February
March
....
April
May
June
rl37.1
|H)pl39.0
(NA)
July
August
September
October
November
December . . .
NOTE: Series are seasonally adjusted except for those, indicated by <§), that appear to contain no seasonal movement. Current high values are indicated by [H); for series that move counter to movements
in general business activity, current low values are indicated by(R>. Series numbers are for identification only and do not reflect series relationships or order. Complete titles and sources are listed at the back
of this issue. The "r" indicates revised; "p", preliminary; "e", estimated; "a", anticipated; and "NA", not available.
Graphs of these series aro shown on pages 10 and 11.
includes a substitute value for series 1. See "New Features and Changes for This Issue" on page iii of the March 1982 issue.
2
Excludes series 36 and 111, for which data are not available.
Excludes series 57, for which data are not available.
"Excludes series 77 and 95, for which data are not available.
60
JULY 1984
CYCLICAL INDICATORS
B I CYCLICAL INDICATORS BY ECONOMIC PROCESS
MAJOR ECONOMIC
PROCESS
^ |
Minor Economic
Process
Timing Class
Year
and
month
EMPLOYMENT AND UNEMPLOYMENT
L, L, L
L, C, L
1. Average workweek
of production workers,
manufacturing
5. Average weekly
initial claims, State
unemployment
insurance'
60. Ratio, help-wanted
advertising to persons
unemployed
(Ratio)
(Thous.)
(Hours)
(Hours)
L, Lg, U
L, C, L
21. Average weekly
overtime hours,
production workers,
manufacturing
Comprehensive
Employment
Job Vacancies
Marginal Employment Adjustments
U.C.C
L, Lg, U
46. Index of helpwanted advertising
in newspapers
48. Employee-hours
in nonagncultural
establishments
(1967 = 100)
(Ann. rate,
bil. hours)
Revised2
1982
January
February
March
37.4
39.5
39.1
2.3
2.4
2.3
563
514
566
0.336
0.316
0.288
106
103
96
164.24
168.94
168.32
April
May
June
39.0
39.
39,
2.4
2.3
2.3
566
585
551
0.254
0.250
0.241
87
85
167.52
167.63
166.55
July
August
September . . .
39.
39.
38.8
2.3
2.3
2.3
533
605
653
0.227
0.213
0.193
83
78
73
165.91
165.52
165.14
October
November . . .
December , . .
38.9
39.0
39.1
2.3
2.3
2.3
651
616
531
0.196
0.195
0.208
76
78
83
164.36
163.50
164.61
January
February
March
39.5
39.1
39.7
2.4
2.4
2.6
507
478
479
0.214
0.215
0.216
83
83
83
165.75
164.04
165.06
April
May
June
40.1
39.9
40.1
2.9
2.7
2.9
470
453
406
0.212
0.232
0.245
81
87
92
166.67
167.07
167.47
July
August
September . . .
40,
40.
40.
3.0
3.0
3.2
380
408
387
0.281
0.272
0.282
100
97
98
168.29
168.25
170.68
October
November . . .
December . , .
40,
40,
40,6
3.3
3.3
3.4
386
381
378
0.334
0.360
0.392
111
114
121
171.12
170.69
172.73
40.9
40.9
40.7
3.5
3.5
3.5
364
(8)345
348
0.406
0.433
0.421
123
128
124
174.01
175.02
174.40
E>r41.1
r40.6
p40.6
E>3.7
360
348
350
0.418
0.437
DP0.491
124
125
H>pl34
H>176.89
176.19
P176.79
1983
1984
January
February
March
April
May
June
r3.3
p3.3
July
August
September . . .
October
November . . .
December . . .
See note on page 60.
Graphs of these series are shown on pages 12, 16, and 17.
l
Data exclude Puerto Rico, which is included in figures published by the source agency.
2
See "New Features and Changes for This Issue," page iii.
ItCII JULY 1984
61
CYCLICAL INDICATORS
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued
MAJOR ECONOMIC
PROCESS
Q |
Minor Economic
Process
EMPLOYMENT AND UNEMPLOYMENT-Continued
Comprehensive Unemployment
Comprehensive Employment-Continued
Timing Class
Year
and
month
U.C.C
C.C.C
42. Persons
engaged in nonagricultural
activities, labor
force survey
41. Employees
on nonagricultural payrolls,
establishment
survey
40. Employees
in goodsproducing industries (mining, mfg., construction)
90. Ratio,
civilian employment to total
population of
working age
(Thous.)
(Thous.)
(Thous.)
(Percent)
L. C, U
U, Lg, U
L, Lg, U
L, lg, U
L, Lg, U
37. Number of
persons unemployed, labor
force survey
43. Unemployment rate,
total
45. Average
weekly insured unemployment rate,
State programs'
91. Average
duration of
unemployment
44. Unemployment rate,
persons unemployed 15
weeks and over
(Thous.)
(Percent)
(Percent)
(Weeks)
(Percent)
Lg, Lg, Lg
Lg, Lgf Lg
1982
January
February
March
96,301
96,419
96,374
90,402
90,409
90,301
24,691
24,667
24,524
57.46
57.48
57.38
9,393
9,693
9,910
8.6
8.9
9.0
4.1
4.1
4.3
13.4
14.1
14.0
2.2
2.5
2.7
April
May
June
96,223
96,726
96,314
90,059
90,006
89,755
24,299
24,165
23,920
57.23
57.51
57.15
10,303
10,363
10,480
9.4
9.4
9.5
4.5
4.6
4.6
14.4
14.8
16.0
2.8
2.9
3.1
July
August . . . . . . . . .
September
96,086
96,183
96,046
89,412
89,208
89,103
23,716
23,528
23,376
57.01
56.99
56.84
10,896
10,910
11,267
9.9
9.9
10.2
4.6
4.7
4.9
15.4
16.
16,
3.3
3.4
3.5
October
November
December
95,703
95,537
95,550
88,820
88,674
88,646
23,101
22,930
22,873
56.63
56.52
56.44
11,544
11,887
11,894
10.4
10.7
10..7
5.1
5.1
4.8
17.2
17.4
18.4
3.8
4.0
4.2
January
February
March
95,734
95,757
95,930
88,827
88,728
88,945
22,959
22,827
22,832
56.48
56.45
56,48
11,523
11,516
11,419
10.
10.
10.
4.5
4.5
4.4
19.4
19.1
19.2
4.2
4.2
4.1
April
May
June
96,214
96,388
97,264
89,259
89,578
89,927
22,949
23,087
23,241
56.60
56.63
57.14
11,369
11,188
11,162
10.
10,
10.0
4.4
4.1
3.9
19.2
20.2
21.4
4.0
4,1
4.0
July
August
September
97,726
98,035
98,568
90,274
89,918
91,018
23,414
23,532
23,669
57.35
57.45
57.62
10,600
10,633
10,353
9.5
9.5
9.2
3.7
3.5
3.3
21.3
19.9
20.2
3.9
3.6
3.5
October
November
December
98,730
99,349
99,595
91,345
91,688
92,026
23,895
24,058
24,198
57.61
57.92
58.05
9,896
9,429
9,195
8.4
8.2
3.2
3.2
3.1
20.1
20.2
19.6
3.3
3.1
3.0
99,918
100,496
100,859
92,391
92,846
93,058
24,383
24,577
24,595
58.06
58.41
58.49
9,026
8,801
8,772
8.0
7.8
7.8
3.0
2.9
2.9
20.5
18.8
18.8
2.9
2.6
2.5
101,009
101,899
[0)102,344
r93,449
r93,718
E>P94,019
r24,760
r24,850
B)p24,990
58.59
59.04
0)59.24
8,843
8,514
0)8,130
7.8
7.5
0)7.1
2.8
2.7
18.5
.4
18.6
2.5
2.5
1983
1984
January
February
March
April
May
June
,
i>2.7
July
August
September
October
November
December
See note on page 60,
Graphs of these series are shown on pages 14, 15, 17, and 18.
x
Data exclude Puerto Rico, which is included in figures published by the source agency.
62
JULY 1984
(B>2.3
CYCLICAL INDICATORS
B
I
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued
MAJOR ECONOMIC
PROCESS
Q j
Minor Economic
Process
PRODUCTION AND INCOME
Industrial Production
Comprehensive Output and Income
Timing Class
C, C,C
50. Gross national product
in 1972 dollars
Year
and
month
C.C.C
Persona income
223. Current
dollars
(Ann. rate,
bil. dol.)
Revised1
(Ann. rate,
bil. dol.)
Revised1
52. Constant
(1972) dollars
(Ann. rate,
bil. dol.)
Revised1
c, c, c
51. Personal
income, less
transfer payments, in 1972
dollars
(Ann. rate,
bil. dol.)
c,c, c
53. Wages and
salaries in
mining, mfg.r
and construction in 1972
dollars
(Ann. rate,
bil. dol.)
Revised1
Revised1
C,C,C
47. Index of
industrial
production,
total
(1967 = 100)
c, c,c
C. L.L
73. Index of
industrial
production,
durable manufactures
74. Index of
industrial
(1967=100)
(1967 = 100)
production,
nondurable
manufactures
c, c, c
49. Value of
goods output
in 1972 dollars
(Ann. rate,
bil. dol.)
Revised1
1982
2,521.5
2,542.6
2,545.2
1,246.4
1,256.2
1,255.0
1.072.0
1,080.7
1,077.9
222.9
223.7
222.7
140.7
127.1
142.9
141.7
129.3
128.2
157.3
1.48CK5
2,561.2
2.570.7
2.572.7
1,260.4
1,258.9
1,248.3
1.081.2
1,079.5
1,070.1
221.8
220.2
217.1
140.2
139.2
138.7
126.7
126.1
125.5
156.1
155,0
155.3
662! 6
July
August
September
1,477a
2,591.4
2,591.5
2,599.8
1,251.9
1,248.9
1,249.3
1,067.8
1,064.9
1,064.2
214.8
212.7
211.0
138.8
138.4
137.3
125.9
124.9
123.5
155.7
156.9
156.7
657! 9
October
November
December
1,476\8
2.617.0
2.645.0
2,656.3
1,249.2
1,261.9
1,267.3
1,060.8
1,070.3
1,074.8
208.3
207.3
208.4
135.7
134.9
135.2
120.3
119.3
119.9
156.2
155.3
155.6
653! 6
January
February
March
1.491.0
2,659.7
2,656.8
2.671.8
1,264.1
1,260.9
1,265.7
1L.075.5
1,071.1
]1,074.8
210.5
209.4
210.2
137.4
138.1
140.0
122.5
123.9
126.3
157.4
159.0
160.7
658.9
April
May
June
2.693.2
2,715.8
2,734.4
1,268.0
1,275.6
1,282.6
;1,077.6
1,5Z4!8
L,083.0
L.091.3
210.6
210.9
212.2
142.6
144.4
146.4
129.1
131.0
133.2
163.3
165.4
167.8
68 U 6
July
August
September
1,550.2
2.744.9
2,759.9
2,785.0
1,283.3
1.284.9
1,291.1
1,094.2
1,096.8
1,104.1
213.3
213.6
216.0
149.7
151.8
153.8
136.8
138.8
141.6
170.6
172.9
174.6
698.1
October
November
December
1,572.7
2,814.9
2,834.2
2,860.4
1,306.2
1,312.1
1,321.2
1,119.1
1,121.9
1,130.8
217.1
218.2
219.8
155.0
155.3
156.2
142.8
143.6
145.0
175.6
174.8
173.9
715\5
1,610.9
2,897.4
2,923.5
2.940.6
1,332.8
1,341.7
1,344.0
1,144.1
1,153.1
1,155.3
221.9
223.1
222.9
158.5
160.0
160.8
148.6
150.5
rl51.4
175.2
177.2
rl77.6
744.9
0>pl,64O.2
2.969.0
2,980.7
H)p3,004.6
1.355.1
1.360.4
H>pl.367.0
1,165.7
1,170.5
224.7
224.7
H)P226.1
rl62.2
rl62.8
H>pl63.6
rl52.8
rl53.3
E>pl54.1
rl79.2
rl79.9
DP180.2
DP764.4
January
February
March
1.483.5
April
May
June
155.1
157.8
669.0
1983
1984
January
February . .
March
April
May
June
E>pl,177.3
July
August
September
October
November
December
See note on page 60.
Graphs of these series are shown on pages 14, 19, 20, and 40.
l
See "New Features and Changes for This Issue," page iii.
JULY 1984
63
CYCLICAL INDICATORS
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued
MAJOR ECONOMIC
PROCESS
£ 3
0
PRODUCTION AND INCOME—Continued
Minor Economic
Process
Capacity Utilization
Timing Class
L, C, U
83. Rate of
capacity
utilization,
manufacturing
(8EA)
Year
and
month
(Percent)
82. Rate of
capacity
utilization,
manufacturing
(FRB)
(Percent)
CONSUMPTION, TRADE, ORDERS, AND DELIVERIES
Orders and Deliveries
L, C, U
84. Rate of
capacity
utilization,
materials
(Percent)
L, L, L
L, L, L
Value of manufacturers' new
orders, durable goods industries
6. Current
dollars
(Bil. dol.)
L.L.L
L, L, L
L, L, L
L, Lg, U
7. Constant
(1972) dollars
8. New orders
for consumer
goods and
materials in
1972 dollars
25. Change in
unfilled orders,
durable goods
industries
96. Manufacturers' unfilled
orders, durable
goods industries
(Bil. dol.)
(Bil. dol.)
(Bil. dol.)
(Bil, dol.)
32. Vendor
performance,
companies receiving slower
deliveries ©
(Percent
reporting)
1982
January , . ,
February
March
72.9
73".6
76.13
77.37
78.60
33.29
33.83
34.31
29.04
29.50
30.48
-0.53
-1.34
-0.24
308.24
306.89
306.65
32
36
35
7i!e
7O.*7
76.91
75.83
74.92
33.50
32.89
32.42
29.40
30.48
29.94
-1.04
-3.54
-3.64
305.61
302.08
298.44
31
30
38
7II6
69^4
75.23
72.05
73.23
32.51
31.12
31.52
30.04
29.23
29.75
-3.24
-4.49
-3.22
295.20
290.71
287.49
37
40
40
69*6
67! i
71.55
71.54
76.61
30.76
30.68
32.79
28.25
28.42
28.70
-1.64
-1.64
2.81
285.84
284.21
287.01
44
40
38
70." 7
70.1
81.84
77.52
79.80
35.06
32.96
33.87
31.42
31.64
31.70
3.83
-0,38
0.15
290.85
290.47
290.61
41
42
50
73.8
73.*5
82.86
83.29
89.46
35.16
35.19
37.64
32.02
33.56
33.86
2.74
1.28
3.87
293.36
294.63
298.50
52
52
52
77*4
77^5
87.88
88.82
91.51
36.91
37.23
38.35
34.60
35.20
35.31
2.80
2.09
2.55
301.30
303.39
305.94
52
61
60
78.9
79.6
94.78
97.99
98.44
39.72
40.95
41.09
36.09
36.60
37.49
5.60
5.68
2.09
311.53
317.21
319.30
64
59
67
80.7
81.6
99.44
102.34
E>105.18
41.50
42.52
E>43.43
0)38.59
r38.38
37.52
4.15
6.06
H>8.19
323.46
329.51
337.70
63
68
S&72
98.32
rlO2.26
P98.93
40.53
r42.13
p40.65
37.31
r38.46
p36.18
2.62
r4.31
pO.67
340.32
r344.63
0>p345.3O
71
70
66
72
April
May
June
*H
July
August
September
69
October
November
December . . . . . . .
*68
1983
January
February
March . .
*7O
April . . .
May
June
*73
July
August
September
*76
October
November
December
E>77
1984
January
February
March
,
April ,
May
June
(NA)
B>p8i;7
®p82!8 •
July . . .
August
September . . . . . . .
October . . . . . . . . .
November
December
See note on page 60.
Graphs of these series are shown on pages 12, 20, and 21.
64
JULY 1984
CYCLICAL INDICATORS
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued
MAJOR ECONOMIC
PROCESS . .
Q |
Minor Economic
Process
Timing Class
C,C, C
c,c,c
56. Current
dollars
(Mil. dol.)
57. Constant
(1972) dollars
(Mil. dol.)
C.L.C
75. Index of industrial production, consumer
goods
(1967 = 100)
C L, U
L.C, C
U, L, U
Sales of retail stores
54. Current
dollars
(Mil. dol.)
FIXED CAPITAL
INVESTMENT
Formation of Business Enterprises
Consumption and Trade
Manufacturing and trade sales
Year
and
month
P |
Kil
CONSUMPTION, TRADE, ORDERS, AND DELIVERIES-Continued
59. Constant
(1972) dollars
L.L.L
58. Index of
consumer,
sentiment ©
55. Personal
consumption
expenditures,
automobiles
(Ann. rate,
bil. dol.)
(Mil. dol.)
1
Revised
Revised
(lstQ
1966-100)
12. Index of
net business
formation
(1967 = 100)
L.L.L
13. Number of
new business
incorporations
(Number)
1
1982
January
February
March
341,593
347,076
346,824
150,871
153,723
154,188
139.6
141.8
141.5
86,468
88,846
87,882
43,539
44,826
44,340
71.4
71.0
66.5
62.0
113.2
115.6
113.5
43,330
47,234
46,899
April
May
June
345,177
350,022
345,717
152,619
155,866
153,409
142.1
143.6
144.8
88,268
89,794
88,048
44,557
45,145
43,870
70.4
65,
67,
65.7
115.2
114.7
112.1
46,876
46,995
45,936
July
August . .
September
345,663
341,974
342,109
152,957
151,770
151,184
145.8
144.1
143.4
89,252
89,251
90,019
44,382
44,381
44,719
73.4
65.4
65.4
69.3
112.4
112.6
110.4
44,525
46,981
45,552
October
November . . .
December . . .
336,574
339,344
338,065
148,456
149,877
149,959
142.2
141.3
142.0
90,511
92,747
91,861
44,785
45,937
45,566
79.1
73.4
72.1
71.9
111.5
112.9
114.4
45,530
48,474
B>57,507
January
February
March
345,890
342,742
348,227
153,884
152,079
154,416
143.6
143.4
144.3
92,526
92,211
93,804
45,782
45,672
46,323
78.4
70.4
74,6
80.8
111.4
113.3
112.7
49,999
48,296
48,032
April
May
June
351,012
360,488
368,971
155,086
160,627
164,405
147.7
150.4
152.4
95,125
97,239
98,638
46,767
47,666
48,328
88.1
89.1
93.3
92.2
112.0
114.8
116.4
48,903
50,211
50,992
July
August
September . . .
370,181
373,283
379,229
162,719
163,101
164,474
154.8
156.3
157.3
98,832
98,277
99,537
48,258
47,847
48,366
90.2
93,
90,
89,
115.2
114.4
115.8
48,601
52,828
50,445
October
November . . .
December . . .
382,457
386,564
395,682
164,883
167,532
170,769
156.9
156.1
157.7
100,923
101,896
102,438
48,968
49,464
49,607
96.3
89,
91,
94.2
118.0
117.8
116.3
50,441
51,642
51.557
401,133
398,815
401,905
rl72,969
rl71,811
rl72,085
159.5
159.4
rl60.2
106,602
105,482
103,873
51,202
50,712
49,819
101.9
100,
97,
H>101.0
115.9
ii9.i
117.6
53,044
53,591
r405,880
[H>p412,308
rl73,770
E>pl77,346
(NA)
rl61.5
rl62.1
|H>pl62.7
rl07,505
rl08,094
H>plO8,969
51,536
51,943
H)p52,389
[H)plO3.8
96.1
98.1
95.5
118.6
116.2
P115.8
1983
1984
January
February
March
April
May
June
(NA)
p53,424
(NA)
July
August
September . . .
October
November . . .
December . . .
See note on page 60.
Graphs of these series are shown on pages 12, 14, 22, and 23.
'See "New Features and Changes for This Issue," page i i i .
inn
JULY 1984
65
CYCLICAL INDICATORS
B
I
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued
MAJOR ECONOMIC
PROCESS
Q |
Minor Economic
Process . , .
Business Investment Commitments
Timing Class
L, L, L
L.L.L
L, L, L
month
10. Current
dollars
(Bil. dol.)
24. Current
dollars
20, Constant
(1972) dollars
(Bil. dol.)
(Bil. dol.)
Revised
1982
L.L.L
L, C, U
Value of manufacturers' new orders,
capital goods industries, nondefense
Contracts and orders for plant
and equipment
Year
and
FIXED CAPITAL INVESTMENT—Continued
9. Construction contracts for commercial and industrial buildings1
Square feet of
floor space
27. Constant
(1972) dollars
(Millions)
(Bil. dol.)
Square meters of
floor space 2
(Millions)
U, Lg, U
C Lg, Lg
11. Newly
approved capital
appropriations,
1,000 manufacturing corporations
97. Backlog of
capital appropriations, 1,000
manufacturing
corporations
(Bil, dot.)
(Bil. dol.)
3
3
Revised
January
February
March
26.75
29.54
26.15
13.10
14.60
13.11
21.85
22.59
21.91
11.00
11.61
11.30
58.18
63.29
61.15
5.40
5.88
5.68
25.18
April
May
June
25.88
23.81
23.10
13.54
11.74
11.13
22.45
20.13
19.62
12.07
10.16
9.64
58.93
53.71
64.87
5.47
4.99
6.03
20^02
July
August
September . , ,
23.81
22.70
24.34
11.63
11.06
11.96
20.33
18.62
20.28
10.13
9.30
10.21
57.80
59.78
55.95
5.37
5.55
5.20
18.44
October
November . . .
December . . .
23.23
23.70
24.47
11.71
11.58
12.58
19.93
20.01
19.84
10.29
9.99
10.60
54.65
50.69
49.55
5.08
4.71
4.60
21.49
23.26
24.07
23.83
11.62
11.77
12.59
20.48
19.17
20.13
10.44
9.67
11.01
66.89
57.77
52.65
6.21
5.37
4.89
25.77
28.31
r27.24
13.14
13.84
14.07
21.96
21.85
23.83
11.52
11.09
12.61
54.32
61.20
65.40
July
August
September . . .
25.58
26.62
29.09
12.86
13.20
15.15
22.06
22.89
25.30
11.36
11.62
13.54
61.78
65.26
69.20
6.43
October
29.66
28,86
27.99
14.78
14.05
13.76
25.50
24.68
24.89
13.01
12.28
12.45
71.35
73.65
66.89
6.21
28.85
30.66
30.85
14.57
15.41
15.71
25.09
27.02
26.86
13.00
13.89
14.06
77.59
62.61
73.63
7.21
5.82
6.84
29.55
14.62
17.11
plS.59
25.88
(H>r28.96
p27.22
13.11
E>14.82
p!4.02
80.03
.39
74.04
7.43
©7.84
6.88
90.20
82.88
74. is
7QJ6
1983
January
February
March
April
May
June
November . . .
December . , ,
2o!b"3
7lli6
2220
72*17
25a?
73*67
1984
January
February
March
April
May
June
(H)r34.47
P30.98
[H}p80.'00
(NA)
(NA)
July
August
September . . .
October
November . . .
December . . ,
See note on page 60.
Graphs of these series are shown on pages 12, 23, and 24.
x
This is a copyrighted series used by permission; it may not be reproduced without written permission from McGraw-Hill Information Systems
Company, F.W. Dodge Division.
Converted to metric units by the Bureau of Economic Analysis.
3
See "New Features and Changes for This Issue," page iii.
66
JULY 1984
CYCLICAL INDICATORS
CYCLICAL INDICATORS BY ECONOMIC PROCESS-Continued
MAJOR ECONOMIC
PROCESS
Q j
Minor Economic
Process
Timing Class
Year
and
month
FIXED CAPITAL INVESTMENT—Continued
Residential Construction
Commitments and Investment
Business Investment Expenditures
C Lg, Lg
C, Lg, Lg
C. Lg. U
61. Business
expenditures
for new plant
and equipment,
total
69. Machinery
and equipment
sales and business
construction
expenditures
76. Index of
industrial pro*
duction, business
equipment
(Ann. rate,
bil. dol.)
(Ann. rate,
bit. dol.)
(1967 = 100)
Revised 1
C, Lg, C
Lg, Lg, Lg
C Lg. C
Nonresidentia fixed investment in 1972 dollars
86. Total
87. Structures
(Ann. rate,
bil. dol.)
(Ann. rate,
bil. dol.)
88. Producers'
durable equipment
(Ann. rate,
bil. dol.)
Revised1
Revised1
Revised1
175.2
55.4
119.8
L. L, L
28. New
private housing
units started,
total
(Ann. rate,
thous.)
L, L, L
29. Index of
new private
housing units
authorized by
local building
permits
(1967 = 100)
L, I , L
89. Residential
fixed investment, total, in
1972 dollars
(Ann. rate,
bil. dol.)
Revised 1
1982
853
880
920
64.1
65.3
72.0
36.2
113.2
935
1,020
913
71.7
77.0
73.7
37.6
52.4
111.5
1,173
1,026
1.148
84.3
74.8
84.2
36.8
161.5
51.9
109.7
1,156
1,355
1.296
92.8
99.3
109.1
40.8
146.6
142.7
143.7
16K6
49!6
11^5
1.632
1.706
1,592
115.6
117.6
120.5
46\2
308.89
302.96
327.25
146.9
147.7
150.2
165.3
48.1
117.2
1.549
1,779
1,743
125.7
134.1
142.5
53.4
270!05
319,56
320.14
331.57
153.3
156.6
158.7
172.6
48^3
m.3
1,793
1,873
1.679
141.5
135.0
124.4
57!2
283.96
325.11
339.42
354.91
161.3
164.1
167.3
184.5
51.4
...
133.1
1,672
1,730
1,694
133.3
133.2
129.4
E)293!i5
343.03
345.94
362.47
170.7
171.9
rl72.1
193^3
54!l
139! 2
1,980
H>2.262
1,662
April
May
June
a303.79
358.79
(H>p376.29
(NA)
rl73.5
175.4
[H>pl77.0
E>p202.6
DP57.7
E>pl44.9
July
August
September
a314.52
October
November
December
a324.45
335.85
345.85
343.90
172.2
171.6
288.04
329.13
335.67
329.55
164.9
159.9
156.7
166.9
53.7
July
August
September
279.61
326.30
316.14
318.53
154.9
153.9
150.5
163.9
October
November
December
269.80
310.36
309.83
307.12
147.1
146.4
148.1
January
February
March
26U71
307.65
298.73
310.69
April
May
June
261.16
July
August
September
October
November
December
January
February
March
293.46
April
May
June
169.0
1983
57.8
...
1984
January
February
March
r2,015
rl,805
pi.900
145.3
0)153.6
139.5
142.0
141.0
142.8
60'.6
E>P62.0
See note on page 60.
Graphs of these series are shown on pages 13, 24, and 25.
1
See "New Features and Changes for This Issue," page iii.
JULY 1984
67
CYCLICAL INDICATORS
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued
MAJOR ECONOMIC
PROCESS
| H
Minor Economic
Process
Timing Class
Year
and
month
INVENTORIES AND INVENTORY INVESTMENT
Inventories on Hand and on Order
Inventory Investment
LT L, L
L, L, L
L, L, L
30. Change in
business inventories in 1972
dollars
36. Change in inventories on
hand and on order, 1972 dollars
Monthly
Smoothed
data1
31. Change
in book value
of mfg. and
trade inventories, total
(Ann. rate,
bil. dot.)
I, I, L
38. Change
in stocks of
materials and
supplies on
hand and on
order, mfg.
Lg, Lg, lg
Lg, Lg, Lg
Manufacturing and trade
inventories
71. Book
value
70. Constant
(1972) dollars
Lg, Lg, Lg
Lg, Lg, Lg
65. Manufacturers' inventories of
finished
goods, book
value
77. Ratio,
constantdollar inventories to
sales, mfg.
and trade
78. Stocks of
naterials and
supplies on
hand and on
order, mfg,
(Ratio)
(Bil. dol.)
L, Lg, Lg
(Ann. rate,
bil. dol.)
(Ann. rate,
bil. dol.)
(Ann. rate,
bil. dol.)
Revised2
Revised2
Revised2
-6.7
-26.80
-23.28
-5.68
-10.17
-17.89
-20.44
-28.7
-118.7
-•3.0
-2.27
-2.71
-1.89
521.24
519.67
519.42
268.00
267.06
266.85
89.30
90.07
90.03
April
May
June
-9.73
-31.19
-5.84
-15.74
-14.22
-15.56
23.7
-52.7
13.8
-1.82
-2.08
-3.67
521.40
517.01
518.X6
267.45
265.30
265.53
89.42
88.58
87.71
208.03
205,95
202.28
July
August
September . . .
-4.46
-24.55
-9.04
-14.71
-12.72
-12.15
2.8
-23.6
-18.3
-2.16
-2.35
-2.20
518.39
516.42
514.90
265.85
264.88
264.38
88.14
88.03
87.49
200.11
197.76
195.56
October
November . . .
December . . .
-19.56
-36.52
-19.96
-15.20
-19.71
-23.53
-19.2
-66.8
-26.2
-1.72
-1.81
-0.92
513.30
507.73
505.55
263.25
260.61
259.40
87.18
85.98
85.02
193.85
192.04
191.12
-X6.S
-13.50
3.06
-15.16
-24.34
-16.73
-9.33
-40.0
10.0
-44.1
0.08
0.97
0.69
502.21
503.04
499.37
257.82
257.60
256.06
83.84
83.63
82.34
-6\i
2.08
12.73
-2.32
-5.94
-1.73
2.02
10.7
9.3
-5.0
0.13
1.16
1.58
500.26
501.04
500.62
255.89
256.22
255.65
82.08
82.10
81.88
16.86
16.97
13.01
18.91
18.14
15.34
6.63
9.80
13.06
9.2
34.9
32.4
1.64
0)2.92
1.64
501.38
504.28
506.98
255.86
256.31
256.78
82.23
82.14
81.72
1.58
1.58
1.58
197.36
200.27
201.91
15.96
16.49
17.08
26.2
27.4
34.6
2.47
1.77
2.44
509.17
511.415
514.34
257.29
258.06
259.02
81.54
81.72
80.87
1.58
1.56
1.53
204.38
206.15
208.59
28.30
E>46.84
19.03
25.38
31.87
44.7
©109.8
66.6
2.86
2.71
r2.42
518.06
527.22
532.77
260.17
263.23
265.12
80.77
81.87
82.87
rl.50
rl.53
rl.54
211.45
214.16
r216.59
E>35.06
p34.26
(NA)
r99.5
p58.2
(NA)
r2.28
p2.55
(NA)
r541.06
E)p545.91
(NA)
267.86
E)p269.78
(NA)
84.06
85.30
(NA)
rl.54
pi.52
(NA)
218.87
[H)p221.42
(NA)
(Bil. dol.)
(Bil. dol.)
(Bil. dol.)
(Bit. dot.)
Revised2
C1)
1982
January
February
March
1.78
1.74
1.73
214.45
211.74
209.85
1.74
1983
January
February
March
April
May
June
July
August
September . . .
CL9
October
November , . .
December . . ,
191.19
192.16
192.85
1.68
192.98
194.13
195.72
1984
January
February
March
E>3L6
April
May
June
25.61
37.15
P33.18
(NA)
July
August
September . . .
October
November . . .
December . . .
See note on page 60.
Graphs of these series are shown on pages 13, 15, 26, and 27.
l
This series is a weighted 4-term moving average (with weights 1,2,2,1) placed on the terminal month of the span.
See "New Features and Changes for This Issue/' page iii.
2
JULY 1984
CYCLICAL INDICATORS
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued
MAJOR ECONOMIC
PROCESS
Q
Minor Economic
Process
Year
and
month
Stock
Prices
Sensitive Commodity Prices
Timing Class
L, L L
98. Change in
producer prices
for 28 sensitive
materials
(Percent)
L, L, L
U, L, L
23. Index of
spot market
prices, raw
industrialsl
(1967 = 100)
PRICES, COSTS, AND PROFITS
L, L, L
99. Change in sensitive materials
prices
Smoothed
data 2
Monthly
data
(Percent)
(Percent)
19. Index of
stock prices,
500 common
stocks ®
(1941-43 = 10)
1982
Profits and Profit Margins
L, L, L
L, L, L
Corporate profits after taxes
16. Current
dollars
18. Constant
(1972) dollars
(Ann. rate,
bit. dol.)
(Ann. rate,
bil. dol.)
Revised
Revised"
L.CL
L, C, L
Corporate profits after taxes
with IVA and CCAdj3
79. Current
dollars
80. Constant
(1972) dollars
22. Ratio,
profits (after
taxes) to total
corporate
domestic
income
(Ann. rate,
bil. dol.)
(Ann. rate,
bil. dol.)
(Percent)
Revised**
Revised1*
Revised 1 *
January
February
March
-0.21
-1.61
-0.62
263.4
261.0
254.5
-0.22
-1.10
-1.06
-1.06
-0.82
-0.76
117.28
114.50
110.84
104^7
51.2
97.0
47.6
April
May . . , , . . .
June
-0.62
-0.22
-0.63
247.4
245.5
232.2
-1.16
-0.32
-1.96
0.95
0.98
-1 00
116.31
116.35
109.70
106! 9
51.7
98.8
47.8
July
August
September . . .
0.11
-1.48
0.26
237.0
236.2
239.0
0.65
-0.88
0.51
-0.84
-0.64
-0.32
109.38
109.65
122.43
IQY.O
51.5
101.4
48.7
5.7
October
November . . .
December . . .
-0.15
-0.26
0.90
235.5
230.4
227.4
-0.51
-0.79
0.09
-0.10
-0.28
-0.33
132.66
138.10
139.37
100! 8
48.1
96.6
46.1
5.3
1.68
0)2.75
2.00
232.1
241.3
248.8
1.50
1)2.58
1.93
-0.07
0.83
1.70
144.27
146.80
151.88
102'.6
48.9
120.0
57.3
EL3
April
May
June
-0.18
1.76
2.55
253.2
251.5
250.5
0.44
0.70
1.22
B>1.83
1.34
0.91
157.71
164.10
166.39
123^4
58.9
141.9
67.9
6\3
July
August
September , . .
0.37
1.14
-0.20
256.0
265.2
267.9
0.86
1.62
0.21
0.86
1.08
1.06
166.96
162.42
167.16
142'.6
67.9
160.2
76.5
October
November . . .
December . . .
0.96
1.12
0.81
273.4
279.8
282.4
1.09
1.29
0.70
0.94
0.92
0.94
E>167.65
165.23
164.36
141 ! l
66.4
175.5
83.0
January
February
March
-0.94
rl.17
r0.64
283.6
283.
289,
-0.37
0.61
0.89
0.78
0.43
0.34
166.39
157.25
157.44
ED15CK6
H>71.0
E>184.7
©87.5
April
May
June
-0.45
-0.51
-0.65
288.6
E>289.5
286.2
-0.28
-0.20
-0.65
0.39
0.27
-0.12
157.60
156.55
153.12
(NA)
(NA)
5.7
1983
January
February
March
6\9
1984
July
August
September . . ,
5
280.9
(NA)
(NA)
(NA)
M50.89
October
November . . .
December . . .
See note on page 60.
Graphs of these series are shown on pages 13, 28, and 29.
1
This is a copyrighted series used by permission; it may not be reproduced without written permission from Commodity Research Bureau, Inc.
2
3
See footnote 1 on page 68.
IVA, inventory valuation adjustment; CCAdj, capital consumption adjustment.
*See "New Features and
5
6
Changes for This Issue," page iii.
Average for July 1 through 24.
Average for July 5, 11, 18, and 25.
JULY 1984
69
CYCLICAL INDICATORS
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued
MAJOR ECONOMIC
PROCESS
Q
Minor Economic
Process
Year
and
month
U, L, I
L, I, L
81. Ratio,
profits (after
taxes) with IVA
and CCAdj to
corp. domestic
income'
15. Profits (after
taxes) per dollar
of sales, all
manufacturing
corporations
(Percent)
1982
Revised
(Cents)
Unit Labor Costs and Labor Share
Cash Flows
Profits and Profit Margins-Continued
Timing Class
PRICES, COSTS, AND PROFITS-Continued
L, L, L
L.U
L. L, L
26. Ratio, price
Nut cash flow, corporate
to unit labor
cost, nonfarm
business sector 34. Current
35. Constant
dollars
(1972) dollars
(1977 = 100)
2
(Ann. rate,
bit. dot,)
(Ann. rate,
bil. dol.)
2
2
Revised
Revised
Lg, Lg, Lg
Lg, Lg, Lg
63. Index of
unit labor cost,
private business
sector
68. Labor cost
per unit of real
gross domestic
product, nonfinancial
corporations
(1977 = 100)
(Dollars)
Lg, Lg, Lg
Lg, Lg, Lg
(i4. Compensation of employ'
ces as a percent
cf national
62. Index of labor cost per
unit of output, manufacturing
Actual data
as a percent
of trend
Actual data
(1967-100)
2
(Percent)
(Percent)
2
Revised
149.9
1.372
225.8
223.3
223.5
104.9
103.2
102.6
75.7
Revised
Revised
2
Revised 2
January .
February
March . .
3.9
96.8
249 .*4
April .
May .
June .
36
96.5
259! 6
121**6
152.9
1.395
226.5
228.2
228.5
103.4
103.5
103.0
76.0
July . . . .
August . .
September
35
95.9
266 .'6
1243
154.*7
1.404
226.9
226.2
226.4
101.7
100.8
100.3
76.5
95.8
266*7
123*4
155.6
1.419
227.9
229.0
229.1
100.3
100.2
99.6
76.5
3. 3
96.3
280! 6
13O.9
156.9
Rl.421
227.4
225.6
223.9
98.3
96.9
95.6
76.0
April .
May .
June .
46
97.6
310.5
1462
156 .'6
1.408
221.9
220.4
219.0
94.2
93.0
91.9
75.2
July
August
September . .
4.2
98.0
339.'6
159*2
156*9
1.400
216.4
214.7
214.4
90.2
89.0
88.3
74.5
4.5
.5
345." 6
160 .9
157*9
1.408
215.0
217.1
220.0
88.0
88.4
89.0
74.3
98.4
E>360*4
B>158."6
1.415
220.1
220.9
221.2
88.5
88.3
87.9
73.5
(NA)
(NA)
(NA)
(NA)
H>221.3
220.6
P220.9
87.4
86.6
P86.2
(NA)
October..
November
December
5*.6
1983
January .
February
March . .
October..
November
December
65
89
1984
January
February
March
April .
May .
June .
(NA)
(NA)
(NA)
July
August
September . .
October . .
November
December
See note on page 60.
Graphs of these writs are shown on pages 15, 29, and 30.
'IVA, inventory valuation adjustment; CCAdj, capital consumption adjustment,
3
See "New Features and Changes for This Issue," page iii.
70
JULY 1984
ltd*
CYCLICAL INDICATORS
B
I
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued
MAJOR ECONOMIC
PROCESS
^ J
Minor Economic
Process
MONEY AND CREDIT
Money
Timing Class
L.L.L
L, C, U
85. Change in
102. Change
money supply
in money
Ml
supply M2
Credit Flows
Velocity of Money
L, L, L
104. Change in total liquid assets
Year
Monthly
Smoothed
and
data
data 1
L, L, L
L, L, L
105. Money
supply Ml
in 1972
dollars
106. Money
supply M2
in 1972
dollars
C Lgt C
C, C, C
107. Ratio,
gross national
product to
money supply
108. Ratio,
personal income
to money supply
M2
Ml
month
(Percent)
(Percent)
(Percent)
(Percent)
(Bil. dot.)
(Bil. dol.)
(Ratio)
(Ratio)
Revised
2
1982
L, L.L
33. Net change
in mortgage debt
held by financial
institutions and
life insurance
companies
(Ann. rate,
bil. dot.)
Revised 2
-0.49
-0.04
0.98
0.21
0.50
0.74
0.81
0.92
0.89
0.87
199.3
197.8
198.0
803.0
802.7
807.8
6.742
1.390
1.398
1.393
36.72
18.02
4.75
0.42
0.38
0.18
0.67
0.80
0.63
0.89
0.88
0.98
0.84
0.84
0.89
198.2
197.0
195.3
810.4
809.2
805.7
6.785
1.392
1.386
1.379
10.64
4.73
-7.61
0.18
1.02
1.27
0.66
1.01
0.88
0.93
0.81
0.84
0.92
0.92
0.88
194.6
196.1
198.5
806.8
812.8
819.6
6.724
1.380
1.366
1.358
-5.03
-5.88
-13.14
1.45
1.32
0.86
0.77
0.88
1.01
0.98
0.45
0.56
0.87
0.82
0.71
200.6
203.2
205.6
822.9
830.1
841.0
6.537
1.357
1.359
1.352
-50.09
-7.82
0.96
1.24
1.08
1)2.66
1.81
0.65
|H>1.34
0.83
0.70
0.72
0.85
0.93
207.0
209.7
211.8
860.7
876.9
882.0
6.465
1.318
1.293
1.292.
45.70
34.82
-40.10
May
0.30
H>1.75
0.85
0.96
0.78
0.99
0.89
0.82
0.86
211.0
213,7
215.1
882,2
886.9
891.3
6.468
June
0.70
0.98
0.70
1.294
1.292
1.292
4.18
-31.85
31.49
July
August
. . . .
September
0.78
0.49
0.29
0.45
0.41
0.59
0.88
0.50
0.73
0,90
0.84
0.75
216.0
216.2
216.1
892.1
892.4
894.4
6.472
1.291
1.293
1.297
66.12
67.46
11.12
October
November
December
0.52
0.27
0.44
0.90
0.69
0.65
r0.52
rl.00
rl.06
0.64
rO.67
r0.80
216.3
216.1
216.6
898.9
901.8
905.5
6.558
1.299
1.299
1.302
r63.34
r76.03
111.73
0.89
0.55
r0.41
0.48
0.71
r0.34
r0.60
0.93
rl.30
0.87
r0.88
r0.90
217.2
217.6
218.0
904.2
907.4
r908.4
6.670
1.313
1.315
1.319
r83.09
r79.76
rlO9.38
0.04
1.06
0.94
rO.57
r0.70
p0.58
r0.80
p0.95
(NA)
r0.98
DPI.oi
217.1
r218.9
[H>p220.7
r909.4
r914.0
H> P917.8
E> 1.324
H>P6.743
[H>pl33.15
(NA)
1.90
January
February
March
April
May
June
July
August
September
October
November
December
1.07
-dfi fti
t o . o J.
1983
January
February
March
April
1984
January
February . . .
. . . .
March
April
May
June
3
July
(NA)
1.320
pi.323
-0.04
August
September
October
November
December
See note on page 60.
Graphs of these series are shown on pages 13, 31, and 32.
lf
rhis series is a weighted 4-term moving average (with weights 1,2,2,1) placed on the terminal month of the span.
2
See "New Features and Changes for This Issue," page iii.
3
Average for weeks.ended July 2, 9, and 16.
JULY 1984
71
CYCLICAL INDICATORS
B
I
CYCLICAL INDICATORS BY ECONOMIC PROCIESS-Continued
MAJOR ECONOMIC
PROCESS
£ J
Minor Economic
Process
Year
and
month
Credit Difficulties
Credit Flows-Continued
Timing Class
L,L, L
L.L.L
112. Net change 113. Net
in business
change in
loans
consumer installment
credit
(Ann. rate,
bil. dol.)
(Ann. rate,
bil. dol.)
MONEY AND CREDIT—Continued
L, L, L
L.L.L
L, L, L
111. Change
in credit outstandingbusiness and
consumer
borrowing
(Ann. rate,
percent)
110. Total
private
borrowing
14. Current
liabilities
of business
failures (u)
(Ann. rate,
mil. dol.)
(Mil. dol.)
Bank Reserves
L.L.L
39. Delinquency
rate, 30 days
and over, consumer installment loans
(Percent)
L, U, U
Interest Rates
L. Lg, U
93. Free
reserves ®
94. Member
bank borrowing from the
Federal
Reserve <§)
(Mil. dol.)
(Mil. dol.)
L, Lg, Lg
C Lg, Lg
119. Federal
funds rate ©
114. Treasury
bill rate ©
(Percent)
(Percent)
1982
January
February
March
77.99
61.63
24.17
5.00
2.00
7.60
10.7
8.2
3.0
245,804
645.14
913.46
836.01
April
May
June
64.98
44.36
29.44
19.48
22,13
24.28
6.8
4.8
3.0
293,064
July
August
September . . .
3.13
2.54
14.87
10.07
3.07
15.07
-2.2
-0.2
0.8
247,372
October
November . , .
December . . ,
11.80
-64.49
-62.64
-1.57
24.18
29.02
-3.1
-5.3
-4.1
38.41
-4.84
11.70
31.14
0.26
35.24
-36.02
-47.33
4.38
July
August
September . . .
October
November . . .
December . . .
2.48
2.39
2.24
-1,101
-1,414
-1,254
1,526
1,713
1,611
13.22
14.78
14.68
12.41
13.78
12.49
1,309.33
2,850.45
1,020.25
-1,307
-745
-895
1,581
1,105
1,205
14.94
14.45
14.15
12.82
12.15
12.11
1,425.60
<NA)
2.19
-378
-199
-592
669
510
976
12.59
10.12
10.31
11.91
9.01
8.20
265,728
2.24
2.23
2.18
-51
-177
-197
455
579
697
9.71
9.20
8.95
7.75
8.04
8.01
8.1
0.8
-0.4
279,504
2,24
2.23
2.22
46
-122
-415
500
557
852
8.68
8.51
8.77
7.81
8.13
8.30
24.49
27.26
46.33
-0.6
-4.7
5.3
391,864
2.07
2.00
1.92
-517
-453
-1,234
993
902
1,714
8.80
8.63
8.98
8.25
8.19
8.82
-2.59
8.72
-5.54
44.47
49.12
30.64
8.0
8.8
1.0
362,200
.95
.90
.88
-875
-1,127
-943
1,382
1,573
1,441
9.37
9.56
9.45
9.12
9.39
9.05
5.59
20.02
51.36
61.12
57.83
69.38
8.5
10.7
13.3
1)512,884
.91
.86
.94
-332
-383
-184
837
912
745
9.48
9.34
9.47
8.71
8.71
8.96
r-8.00
r48.13
i>rl20.56
53.63
79.30
70.44
8.7
14.7
r20.8
p396,580
1.84
E>1.78
1.85
r-102
r375
r-243
r715
r567
r952
9.56
9.59
9.91
8.93
9.03
9.44
r96.91
rlO3.00
p59.46
76.90
E>122.80
(NA)
20.2
E>p26.2
(NA)
r-744
r-2,411
lB>P-2,533
rl,234
r2,988
E>p3,300
10.29
10.32
E>11.06
9.69
9.90
H>9.94
1983
January
February
March
April
May
June
1984
January
February
March
April
May
June
July
August
September . . .
. (NA)
Ml.14
2
9.99
October
November , . .
December . . .
See note on p^ge 60.
Graphs of these series are shown on pages 13, 32, 33. and 34.
Average for weeks ended July 4, 11, 18, and 25,
2
Average for weeks ended July 5, 12, 19, and 26.
72
JULY 1984
ttCII
CYCLICAL INDICATORS
B
I
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued
MAJOR ECONOMIC
PROCESS
1 9
Minor Economic
Process
Interest Rates—Continued
Timing Class
Year
and
month
MONEY AND CREDIT—Continued
Lg, Lg, Lg
C, Lg, Lg
U. Lg, Lg
Lg, Lg, Lg
116. Corporate 115. Treasury
117. Municipal 118. Secondary
bond yields © bond yields (§) bond yields (u) market yields
on FHA
mortgages ®
(Percent)
(Percent)
(Percent)
(Percent)
Outstanding Debt
Lg, Lg, Lg
67. Bank rates
on short-term
business loans
(Percent)
Lg, Lg, Lg
109. Average
prime rate
charged by
banks (g)
(Percent)
Lg, Lg, Lg
66. Consumer
installment
Lg, Lg, Lg
Lg. Lg, Lg
Commercial and industrial
loans outstanding
credit
72. Current
dollars
(Mil. dot.)
101. Constant
(1972) dollars
(Mil. dol.)
(Mil. dol.)
Lg, Lg, Lg
95. Ratio,
consumer installment credit
to personal
income
(Percent)
Revised1
1982
January
February
March . . . . . .
16.34
16.35
15.72
13.73
13.63
12.98
13.28
12.97
12.82
17.38
17.10
16.41
17.13
15.75
16.56
16.50
332,197
333,227
333,574
254,352
259,488
261,502
101,538
103,505
104,517
13.17
13.11
13.11
April
May
June
15.62
15.37
15.96
12.84
12.67
13.32
12.59
11.95
12.45
16.31
16.19
16.73
17.11
16.50
16.50
16.50
335,225
336,804
338,475
266,917
270,614
273,067
106,681
107,943
108,662
13.09
13.10
13.16
July
12.97
12.15
11.48
12.28
11.23
10.66
16.29
14.61
14.03
13.27
September . . ,
15.75
14.64
13.78
16.26
14.39
13.50
338,994
339,306
340,415
273,328
273,540
274,779
108,377
108,505
109,343
13.08
13.09
13.09
October
November . . .
December . . .
12.63
11.89
12.15
10.51
10.18
10.33
9.69
10.06
9.96
12.99
12.82
12.80
11.26
12.52
11.85
11.50
341,293
342,852
348,944
275,762
270,388
265,168
109,560
107,254
105,017
13.04
12.96
13.14
January
February
March
12.04
12.11
11.81
10.37
10.60
10.34
9.50
9.58
9.20
12.87
12.65
12.68
10.20
11.16
10.98
10.50
351,539
351,561
354,498
268,369
267,966
268,941
106,580
106,083
106,553
13.22
13.23
13.27
April
May
June .
11.58
11.24
11.90
10.19
10.21
10.64
9.05
9.11
9.52
12.50
12.41
12.96
10.31
10.50
10.50
10.50
356,539
358,811
362,672
265,939
261,995
262,360
105,364
103,514
103,332
13.24
13.21
13.26
July
August
September . . .
12.46
12.89
12.68
11.10
11.42
11.26
14.23
13.78
13.55
11.09
10.50
10.89
11.00
366,378
370,471
373,024
262,144
262,871
262,409
102,963
102,764
102,383
13.35
13.42
13.39
October
November . . ,
December . . .
12.54
12.86
12.87
11.21
11.32
11.44
9.66
9.75
9.89
13.23
13.23
13.25
10.95
11.00
11.00
11.00
378,117
382,936
388,718
262,875
264,543
268,823
102,326
103,136
104,600
13.43
13.51
13.59
12.65
12.80
13.36
11.29
11.44
11.90
9.63
9.64
9.93
13.08
13.20
13.68
11.06
11.00
11.00
11,21
393,187
399,795
405,665
r268,156
r272,167
r282,214
rlO3,695
rlO4,922
rl08,045
13.57
13.68
13.80
13.64
14.41
E>14.49
12.17
12.89
E>13.00
9.96
10.49
(H>10.67
13.80
0)15.01
14.91
[H>12.45
11.93
12.39
E>12.60
412,073
r290,290
rill,010
r298,873
rll4,204
10)422,306
(NA) |H)p303,828 H)pll6,187
13.88
P14.17
August
1983
1984
January
February
March
April
May
June
July
August
September . . .
2
14.28
3
12.96
M0.42
<NA)
s
13.00
October
November . . .
December . . .
See note on page 60.
Graphs of these series are shown on pages 15, 34, and 35.
x
2
See "New Features and Changes for This Issue," page iii.
Average for weeks ended July 6, 13, 20, and 27.
July 6, 13, and 20.
^Average for weeks ended July 5, 12, 19, and 26.
^Average for July 1 through 27.
JULY 1984
3
Average for weeks ended
73
CYCLICAL INDICATORS
C
I
DIFFUSION INDEXES AND RATES OF CHANGE
DIFFUSION INDEXES
Year
and
month
950. Twelve leading
indicator components
(series 1, 5,8, 12, 19,
20, 29, 32, 36, 99, 106,
111)
1-month
span
952. Six lagging
indicator components
(series 62,77, 91,
95,101,109)
951. Four roughly
coincident indicator
components (series
41, 47, 51, 57)
6-month
span
1-month
span
6-month
span
1 -month
span
6-month
span
961. Average workweek
of production workers,
manufacturing (20
industries)
962. Initial claims for
State unemployment
insurance, week including the 12th l
(51 areas)
963. Number of employees on private
nonagricultural payrolls
(186 industries)
1-month
span
9-month
span
1-month
span
9-month
span
1-month
span
6-month
span
1982
January
February
March
45.8
58.3
33.3
41.7
41.7
45,8
0.0
87.5
37.5
0.0
50.0
50.0
75.0
33.3
33.3
41.7
33.3
33.3
5.0
95.0
25.0
7.5
30.0
25.0
96.1
24.5
5.9
11.8
31.4
43.1
27.6
47.6
35.7
19.2
22.2
21.9
April
May
June
66.7
37.5
37.5
66.7
50.0
45.8
25.0
75.0
0.0
25.0
0.0
0.0
58.3
41,
58,
33.3
33,
33,
22.5
65.0
70.0
20.0
20.0
82.5
62
68,
19.6
15.7
23.5
9.8
31,
41,
33.
24.6
20.
21.
July
August
September . . .
58.3
58.3
62.5
50.0
41.7
62.5
25.0
0.0
12.5
0.0
0.0
0.0
33.3
50.0
33.3
33,
16.
16.7
37.
42.
35.0
65.0
82.5
67.6
9.8
17.6
17.6
72.5
82.4
34,
32,
37,
21.
18.
23,
October
November . . .
December . . .
75.0
58.3
66.7
83.
87.
50.0
50.0
75.0
16.7
0.0
16.7
0.0
8.3
16.7
52,
80.
62.5
57
85.
91.7
0.0
50.0
75.0
97.5
88.2
60.8
76.5
71,
66,
84.3
28.9
32.4
45.7
27.3
29.5
35.4
January
February
March
75.0
70.8
66.7
100.0
100.0
100.0
100.0
25.0
100.0
100.0
100.0
100.0
33.3
50.0
25.0
16.7
16.7
16.7
77.5
12.5
100.0
90.0
90.0
80.0
68.6
57.8
35.3
98.0
96.1
100.0
54.3
46.5
60.8
50,
63.
69
April
May
June
87.5
70.8
87.5
91.7
100.0
91.7
87.5
100.0
100.0
100.0
100.0
100-0
25.0
8.3
25.0
16.7
16.7
33.3
90.0
30.0
85.0
85,
95,
95.0
80.4
48.0
78.4
84.3
90.2
92.2
68.
69.
64.
75.1
80.0
82.4
July
August
September . . ,
62.5
62.5
66.7
91.7
r83.3
66.7
75.0
r75.O
100.0
100.0
100.0
100.0
58.
58.
25.0
33,
41,
95.0
95.0
92.5
70.6
7.8
96.1
88.2
94,1
80.4
74.3
68.6
69.5
84,
82,
66.7
70.0
62.5
92.5
October
November . . .
December . . .
75.0
45.8
r62.5
83.3
83.3
79.2
100.0
100.0
100.0
100.0
100.0
100.0
50.0
58.3
r75.0
66.7
66.7
66.7
40.0
62.5
55.0
95.0
85.0
r92.5
58.8
35.3
60.8
84.3
86.3
66.7
75.4
69.7
73.8
85.9
86.8
83.8
75.0
70.8
45.0
100.0
75.0
100.0
100.0
LOO.O
8,3
75.0
75.0
66.7
66.7
*75.0
77.5
50.0
22.5
80.0
p50.0
36.3
72.5
68.6
P76.5
(NA)
71.1
73.2
67.0
81.9
r82.2
p79.7
35.0
1983
84.6
1984
January
February
March
r58.3
70.8
50.0
April
May
June
58.3
41.7
2
25.0
2
100.0
100.0
noo.o
noo.o
75.0
66.7
"50.0
r87.5
r7.5
p50.0
41.2
P31.4
(NA)
r63.8
r63.5
p63.2
July
August
September . . .
October
November . . .
December . . .
NOTE: Figures are the percent of series components rising. (Half of the unchanged components are counted as rising.) Data are centered within the spans: 1-month indexes are placed on the 2d month, 6month indexes on the 4th month, and 9-month indexes on the 6th month of the span; 1-quarter indexes are placed on the 1st month of the 2d quarter and 4-quarter indexes on the 2d month of the 3d quarter.
Series are seasonally adjusted except for those, indicated b y ® , that appear to contain no seasonal movement. Series numbers are for identification only and do not reflect series relationships or order. Complete titles and sources are listed at the back of this issue. The "r" indicates revised; "p", preliminary; "e", estimated; "a", anticipated; and "NA", not available.
Graphs of these series are shown on page 36.
l
Figures are the percent of components declining.
z
Excludes series 36 and 111, for which data are not available.
3
Excludes series 57, for which data are not available.
"Excludes series 77 and 95, for which data are not available.
74
JULY 1984
KCII
CYCLICAL INDICATORS
DIFFUSION INDEXES AND RATES OF CHANGE—Continued
DIFFUSION INDEXES—Continued
Year
and
month
964. Value of manufacturers' new orders,
durable goods industries (34 industries)
1-month
span
9-month
span
966. Index of industrial
production (24
industries)
965. Newly approved
capital appropriations,
deflated (17 manufacturing industries)
1-quarter
span
967. Index of spot
market prices, raw
industrials ©
(13 industrial materials)
968. Index of stock
prices, 500 common
stocks ' ©
1-month
span
960. Net profits,
manufacturing 2 ©
(about 600 companies)
4-Q moving
average
1-month
span
6-month
span
0.0
12.5
33.3
42.3
34.6
38.5
15.4
30.8
26.9
10.6
34.6
28.8
34.6
42.3
38.5
50
40
33.3
75.0
31.3
41,
37.
33,
30.8
34.6
23.1
26.9
19.2
19.2
88.5
54.8
11.5
18.0
56.0
79.6
53
52
20.8
41.
54,
33.
25.
37.5
61.5
53.8
61.5
26.9
15.4
23.1
52,
26,
100.0
87.8
87.8
89.8
58
49
60.
52.
41.
45.8
60.4
75.0
46.2
30.8
46.2
50.0
57.7
65.4
98.0
85.7
51.0
89.8
98.0
100.0
66
56
25.0
33.3
41.7
79.2
87.5
91.7
61.5
76.9
57.7
80.8
61.5
57.7
63.3
59.2
73.5
100.0
98.0
93.9
71
55
75.0
58.3
75.0
91.7
95.8
95.8
65.4
46.2
46.2
80.8
96.2
88.5
81.6
91.8
65.3
89.8
87.5
86.5
74
50
83.
91.
79.
95.8
91.7
81.3
57.
73,
57,
88.5
80.8
73.1
52.0
30,
85,
91.5
80.9
72.3
82
p59
87.5
83.3
75.0
79.2
83.3
87.5
69.
76.
42.3
80.8
80.8
73.1
47.9
57.4
61.7
38.3
40.4
34.0
(NA)
{NA)
62.5
56.3
70.8
87.5
79.2
r68.8
r91.7
r91.7
p87.5
38.5
61.5
65.4
73.1
65.4
42.3
52.1
10.6
60.6
41.5
25.5
1-month
span
9-month
span
9-month
span
(4-quarter span)
1982
January
February
March
35.3
52.9
38.2
20.
20.
35.
53
April
May
June
38.2
58.8
32.4
23.5
23.5
38.2
24
July
August
September . . .
47.1
27.9
67.6
26.5
26.5
52.9
53
October
November . . .
December . . .
35.3
70.6
44.1
39.7
50.0
73.5
77
January
February
March
67.6
52.9
55.9
88.2
88.2
83.8
42
April
May
June
70.6
73.5
67.6
86.8
88.2
88.2
53
July
August
September . . .
47.1
58.8
64.7
91.2
88.2
85.3
48
October
November . . .
December . . .
64.7
67.6
55.9
94.1
91.2
88.2
59
61.8
47.1
55.9
85.3
p76.5
p74
1983
1984
January
February
March
April
May
June
29.4
r67.6
p35.3
July
August
September . . .
(NA)
r75.0
r68.8
p54.2
50.0
50.0
42.3
3
3
43,
36,
36.2
34.6
October
November . . .
December , . .
See note on page 74.
Graphs of these series are shown on page 37.
x
Based on 52 industries through August 1982, on 50 industries in September 1982, on 49 industries through August 1983, on 48 industries
through October 1983, and on 47 industries thereafter. Data for component industries are not shown in table C2 but are available from the
source.
2
This is a copyrighted series used by permission; it may not be reproduced without written permission from Dun $ Bradstreet, Inc.
9
Based on average for July 3, 10, 17, and 24.
ItCII JULY 1984
75
CYCLICAL INDICATORS
C
DIFFUSION INDEXES AND RATES OF CHANGE—Continued
Q
(1-Q span)
(1-Q span)
(1-Q span)
69.0
69.0
81.0
38.1
57.1
33.3
54.8
66.7
61.9
61.9
85.7
76.2
68
70
62
62
74
74
76
76
52.4
26.2
23.8
21.4
47.6
23.8
33.3
57.1
47.6
57.1
66.7
71.4
52
50
52
56
38.1
38.1
76.2
81.0
57.1
40.5
90.5
81.0
52.4
38.1
66.7
76.2
76.2
(NA)
78.6
61.9
54.8
76.2
66.7
Anticipated
Actual
Anticipated
c. Early
anticipations
Actual
973. Net sales, manufacturing
and trade' ©
972. Net profits, manufacturing
and trade' ©
b. Later
anticipations
a. Actual
expenditures
Continued
971. New orders, manufacturing ' @
970. Business expenditures for new plant and
equipment ( 2 1 industries)
Year
and
quarter
DIFFUSION INDEXES
Anticipated
Actual
(4-Q span)
(4-Q span)
(4-Q span)
60
66
60
60
70
69
74
72
70
74
71
68
78
76
80
80
60
68
64
60
53
52
52
54
61
66
66
60
63
58
57
60
65
70
72
65
66
74
78
84
66
77
82
85
62
66
71
74
64
73
80
81
66
74
74
80
68
78
84
86
90
(NA)
88
91
90
80
(NA)
84
86
88
85
(NA)
88
90
90
(4-Q span)
(4-Q span)
(4-Q span)
1981
First quarter
Second quarter . . . .
Third quarter
Fourth quarter . . . .
1982
First quarter
Second quarter . . . .
Third quarter
Fourth quarter . . . .
1983
First quarter
Second quarter . . . .
Third quarter
Fourth quarter . . . .
1984
First quarter
Second quarter . . .
Third quarter
Fourth quarter . . . .
1
Q | DIFFUSION INDEXES-Continued
Year
and
quarter
974. Number of employees,
manufacturing and trade' ©
975. Level of inventories,
manufacturing and trade * ©
Actual
Actual
Anticipated
(4-Q span)
(4-Q span)
Anticipated
(4-Q span)
(4-Q span)
976. Selling prices, manufacturing ' ©
Anticipated
Actual
(4-Q span)
(4-Q span)
977. Selling prices, wholesale
trade 1 ©
978. Selling prices, retail
trade' ©
Actual
Actual
Anticipated
(4-Q span)
(4-Q span)
Anticipated
(4-Q span)
(4-Q span)
1981
First quarter
Second quarter
Third quarter
Fourth quarter
51
53
52
52
56
54
56
55
62
64
62
63
63
61
66
64
88
86
84
82
88
90
89
84
90
88
84
82
90
39
89
84
94
90
86
86
90
90
92
87
48
46
46
46
50
51
51
48
58
52
52
52
54
56
56
50
72
68
63
60
80
76
68
66
72
67
68
61
82
78
72
68
78
75
74
68
82
81
76
72
48
54
58
61
50
56
59
60
54
59
62
68
52
58
62
64
61
60
65
68
65
66
70
69
63
62
68
70
68
64
68
72
68
72
69
72
69
67
70
71
65
(NA)
62
64
64
72
(NA)
66
70
70
74
(NA)
74
76
76
73
(NA)
72
76
75
72
(NA)
70
74
74
....
....
1982
First quarter
Second quarter . , ,
Third quarter
Fourth quarter . . . .
1983
First quarter
Second quarter . . . .
Third quarter . . . . .
Fourth quarter . . .
1984
First quarter . . . . . .
Second quarter . . . .
Third quarter
Fourth quarter . . . .
NOTE: Figures are the percent of series components rising, (Half of the unchanged components are counted as rising.) Data are placed at the end of the span. Series are seasonally adjusted except for those,
indicated b y ® , that appear to contain no seasonal movement. The "r" indicates revised; "p", preliminary; and "NA", not available.
Graphs of these series are shown on page 38.
This is a copyrighted series used by permission; it may not be reproduced without written permission from Dun § Bradstreet, Inc. Dun ^
Bradstreet diffusion indexes are based on surveys of about 1,400 business executives.
76
JULY 1984
CYCLICAL INDICATORS
C
I
DIFFUSION INDEXES AND RATES OF CHANGE—Continued
M l
SELECTED DIFFUSIONINDEX COMPONENTS: Basic Data and Directions of Change
1983
Diffusion index components
December
November
961.
1984
:
January
March
ebruary
AVERAGE WORKWEEK OF PRODUCTION WORKERS ,
Mayr
April
June p
MANUFACTURINC
(Average weekly hours)
All manufacturing industries
0
.
40.6
0
(62)
Percent rising of 20 components
40.6
+
(55)
40.9
0
(78)
40.9
40.7
(50)
(22)
+
41.1
40.6
(88)
(8)
r40.4
r39.7
39.6
39.6
0
40.6
(50)
Durable goods industries:
_
Lumber and wood products
40.0
39.8
0
41.8
41.7
+
41.4
41.3
0
0
41.1
42.6
-
0
0
40.7
39.8
0
39.6
40.1
0
Furniture and fixtures
Stone, clay, and glass products
0
Primary metal industries
+
Fabricated metal products
Machinery
..
•
except electrical .
Electric and electronic equipment
....
Transportation equipment . . .
Instruments and related products
Miscellaneous manufacturing
.
+
_
40.4
39.9
_
40.1
39.6
+
+
+
+
42.1 +
41.9
42.5
42.0
41.9
41.8
+
_
41.4
41.5
+
+
41.6
41.8
41.8
41.9
0
41.3
41.9
41.8
42.3
41.4
41.9
41.0
42.4
+
+
41.2
43.2
0
41.2
43.1
41.0
42.9
41.3
43.5
40.9
42.4
40.8
40.0
+
41.3
38.9
-
41.2
39.6
41.4
r39.5
40.9
39.3
39.5
37.8
+
+
39.7
38.1
0
40.7
36.6
o
40.6
36.6
t
40.8
36.9
-
40.6
36.7
43.1
37.7
+
+
43.2
37.9
0
o
43.2
37.9
n
43.0
37.9
41.9
44.6
+
+
42.1
44.8
0
42.1
44.5
42.0
44.7
42.4
37.1
42.0
37.3
0
+
42.0
37.2
40.0
40.1
+
41.9
41.8
40.6
40.0
_
:
41.1
39.6
0
42.3
42.2
+
•
o
_
42.1
42.2
39.2
39.1
41.9
42.1
0
41.5
41.9
40.7
42.6
•
41.3
39.5
Nondurable goods industries:
Food and kindred products
Tobacco manufacturers
40.6
36.7
+
;
43.1
37.9
0
n
41.9
43.7
0
Textile mill products
Apparel and other textile products
Paper and allied products
Printing and publishing
....
Chemicals and allied products
Petroleum and coal products
Rubber and miscellaneous plastics products
+
Leather and leather products
964.
97,991
Machinery
+
except electrical
Electrical machinery
12,147
10,736
-
16,115
14,801
+
Other durable goods industries
NOTE: To facilitate interpretation,
+
+
Transportation equipment
+
+
25,717
18,475
98,444
+
99,439
11,809
10,779
+
11,622
10,986
+
16,415
15,369
+
+
17,159
15,658
+
25,167
18,905
+
24,931
19,083
+
+
•
(62)
(56)
(68)
Percent rising of 34 components
Primary metals
42.0
37.2
39.7
36.4
the month-to-month directions of change are shown along with the numbers:
102,345
41.7
36.7
-
+
+
+
+
(+ )
39.9
40.9
r41.2
37.4
40.0
36.5
39.8
36.5
+
r43.2
r38.2
43.1
38.0
0
42.0
r43.7
41.9
43.6
42.1
44.0
•
42.1
r37.5
41.7
36.5
41.9
36.4
-
98,317
40.1
39.5
+
+
0
-
42.8
37.8
2
105,183
(56)
(47)
+
39.8 +
40.1
39.8
36.9
*
VALUE QF MANUFACTURERS' NEW ORDERS, DURABLE GOODS INDUSTRIES '
(Millions of dollars)
All durable goods industries
Fabricated metal products
-
+
(29)
102,256
-
(68)
98,933
(35)
11,442
11,411
+
-
11,657
10,931
+
-
11,877
10,889
+
10,653
11,573
+
-
10,667
11,217
17,215
16,143
+
+
18,303
16,892
-
16,873
14,716
+
+
18,797
17,535
-
18,290
15,83.4
24,523
19,439
+
23,776
19,922
-
23,566
19,359
26,702
19,432
+
-
28,444
18,956
risTng. (o) = unchanged, and ( - )
=
falling.
The " r " indicates revised; " p " ,
preliminary; and "NA", not available.
^ata are seasonally adjusted by the source agency.
Data for most of the diffusion index components are not available for publication, but they are included in the totals and directions of
change for the six major industry groups shown here.
2
JULY 1984
77
CYCLICAL INDICATORS
C
I
DIFFUSION INDEXES AND RATES OF CHANGE-Continued
SELECTED DIFFUSION INDEX COMPONENTS: Basic Data and Directions of Change-Continued
Diffusion index components
1984
1983
November
December
January
February
Aprilr
March
May'
966. INDEX OF INDUSTRIAL PRODUCTION '
(1967 = 100)
All industrial production
155.3
156.2
(56)
(71)
(88)
(79)
(69)
(75)
(69)
(54)
Lumber and products..
Furniture and fixtures ,
141.0
177.5
143.8
177.9
146.0
183.8
145.6
185.6
149.3
184.6
151.2
186.0
149.5
185.9
(NA)
(NA)
Clay, glass, and stone products
Primary metals
152.7
92.2
153.8
90.4
157.8
93.2
160.4
98.4
160.2
97.5
161.3
99.3
+
161.8
97.6
(NA)
96.1
Fabricated metal products ...
Nonelectrical machinery
128.5
161.8
129.2
164.3
131.7
169.5
132.8
170.9
134.9
171.9
135.8
175.2
+
+
137.5
176.5
138.7
178.5
Electrical machinery
Transportation equipment
200.1
127.3
201.5
130.8
206.2
134.9
209.9
135.2
212.0
135.8
+
214.2
134.6
215.3
135.4
216.4
137.3
Instruments
Miscellaneous manufactures .
163.0
148.9
164.6
149.3
167.8
151.1
168.6
152.0
169.7
152.3
+
+
171.8
152.9
171.6
153.2
172.1
152.9
Foods
Tobacco products
157.1
109.5
157.7
112.3
159.4
116.4
160.0
110.9
161.2
111.8
163.0
113.3
(NA)
(NA)
(NA)
(NA)
Textile mill products .
Apparel products
145.8
(NA)
145.0
(NA)
143.9
(NA)
142.3
(NA)
143.5
(NA)
141.7
(NA)
141.5
(NA)
(NA)
(NA)
Paper and products ....
Printing find publishing .
172.1
162.0
170.1
161.7
172.3
163.4
176.6
164.8
173.8
165.2
173.2
165.4
171.8
166.5
170.4
166.4
Chemicals and products
Petroleum products
225.6
125.4
221.1
114.4
221.5
118.8
224.8
127.6
225.0
127.0
228.6
127.8
228.9
129.5
(NA)
129.1
Rubber and plastics products....
Leather and products
309.1
63.2
314.4
66.0
317.2
61.4
318.5
63.9
323.8
63.9
327.0
63.3
330.8
64.8
(NA)
(NA)
Metal mining
Coal
84.6
144.8
82
145
89.4
151.5
97.4
163.2
100.0
164.0
99.8
151.4
99.8
153.4
Oil and gas extraction
Stone and earth minerals ,
119.8
132.2
123.4
133.9
123.1
134.8
119.6
133.0
118.2
135.8
118.6
139.4
120.5
139.5
Percent rising of 24 components
+
+
158.5
+
160.0
+
160.8
+
162.2
+
162.8
+
163.6
Durable manufactures:
Nondurable manufactures:
Mining:
NOTE: To facilitate interpretation, the month-to-month directions of change are shown along with the numbers: ( f ) ^ rising, ( o ) - unchanged, and ( - ) = falling.
preliminary; and " N A " , not available.
l
Data are seasonally adjusted by the source agency.
2
Where actual data for separate industries are not available, estimates are used to compute the percent rising.
78
+
+
(NA)
161.0
121.4
(NA)
The " r " indicates revised; M p " ,
JULY 1984
CYCLICAL INDICATORS
C
I
DIFFUSION INDEXES AND RATES OF CHANGE—Continued
Q
Diffusion index components
SELECTED DIFFUSION INDEX COMPONENTS: Basic Data and Directions of Change-Continued
1984
1983
February
January
December
November
96 I INDEX OF SPOT MARKET PRICES, RAW INDUSTRIALS
Raw industrials price index (1967 = 100) ....
•+
Percent rising of 13 components
279.8
+
282.4
+
(42)
(77)
283.6
o
283.6
+
May
July1
June
2
289.2
-
(65)
(62)
(38)
April
March
288.6
+
289.5
-
(50)
(50)
286.2
-
280.9
(42)
(35)
Dollars
Copper scrap
(pound)
(kilogram)..
-
0.482
1.063
+
0.532
1.173
-
0.500
1.102
+
0.505
1.113
+
0.536
1.182
+
0.546
1.204
-
0.508
1.120
-
0.479
1.056
-
0.461
1.016
Lead scrap
(pound)
(kilogram)..
+
0.153
0.337
-
0.152
0.335
+
0.156
0.344
-
0.146
0.322
+
0.149
0.328
+
0.150
0.331
o
0.150
0.331
+
0.158
0.348
+
0.189
0.417
Steel scrap
(U.S. ton)..
(metric ton)..
+
92.600
102.073
+
99.250
109.403
+ 104.400
115.080
- 103.750
114.364
-
99.250
109.403
-
95.750
105.545
+
98.600
108.687
-
94.250
103.892
-
86.250
95.073
(pound).,
(kilogram)..
+
6.046
13.329
-
5.890
12.985
-
5.754
12.685
+
5.765
12.710
+
5.840
12.875
+
5.845
12.886
+
5.890
12.985
-
5.882
12.967
-
5.778
12.738
(pound)..
(kilogram)..
+
0.494
1.089
o
0.494
1.089
+
0.508
1.120
+
0.517
1.140
+
0.529
1.166
+
0.536
1.182
-
0.533
1.175
-
0.530
1.168
-
0.501
1.105
(vard)
(meter)..
+
0.300
0.328
+
0.316
0.346
-
0.310
0.339
-
0.306
0.335
o
0.306
0.335
o
0.306
0.335
-
0.300
0.328
+
0.313
0.342
+
0.329
0.360
(pound)
(kilogram)..
+
0.758
1.671
-
0.756
1.667
-
0.726
1.601
+
0.731 +
1.612
0.762
1.680
+
0.771 +
1.700
0.803
1.770
-
0.763
1.682
-
0.691
1.523
Print cloth
(yard)..
(meter)..
+
0.846
0.925
+
0.850
0.930
-
0.846
0.925
-
0.845
0,924
-
0.820
0.897
-
0.815
0.891
-
0.784
0.857
-
0.762
0.833
+
0.768
0.840
Wool tops
(pound)
(kilogram)..
o
3.550
7.826
-
3.500
7.716
o
3.500
7.716
o
3.500
7.716
o
3.500
7.716
o
3.500
7.716
o
3.500
7.716
+
3.512
7.743
-
3.500
7.716
Hides
(pound)
(kilogram)..
+
0.666
1.468
-
0.649
1.431
-
0.646
1.424
+
0.671 +
1.479
0.720
1.587
-
0.712
1.570
+
0.744
1.640
+
0.748
1.649
+
0.762
1.680
Rosin
(100 pounds)..
(100 kilograms)..
o
47.000
103.616
o
47.000
103.616
o
47.000
103.616
o
47.000
103.616
o
47.000
103.616
o
47.000
103.616
o
47.000
103.616
o
47.000
103.616
o
47.000
103.616
Rubber
(pound)..
(kilogram)..
-
0.584
1.287
-
0.581
1.281
-
0.578
1.274
+
0.582
1.283
-
0.578
1.274
-
0.568
1.252
-
0.514
1.133
-
0.475
1.047
-
0.465
1.025
Tallow
(pound)..
(kilogram)..
+
0.176
0.388
o
0.176
0.388
+
0.193
0.425
+
0.197
0.434
+
0.219
0.483
-
0.218
0.481
+
0.249
0.549
+
0.259
0.571
-
0.211
0.465
Tin
Zinc ...
..
..
Burlap
Cotton
.
NOTE: To facilitate interpretation, the month-to-month directions of change are shown along with the numbers: ( + ) = rising, (o) = unchanged, and ( - ) = falling.
preliminary; and "NA", not available.
The "r" indicates revised; "p",
lr
The index is the average for July 1 through 24; component prices are averages for July 3, 10, 17, and 24.
Data are not seasonally adjusted. These series are based on copyrighted data used by permission; they may not be reproduced without
written permission from Commodity Research Bureau, Inc. Components are converted to metric units by the Bureau of Economic Analysis.
2
JULY 1984
79
OTHER IMPORTANT ECONOMIC MEASURES
NATIONAL INCOME AND PRODUCT
GNP AND PERSONAL INCOME
Year
and
quarter
b. Difference
Total
1981
First quarter . .
Second quarter
Third quarter .
Fourth quarter
(Ann. rate,
bil. dol.)
(Ann. rate,
bil. dol.)
Revised1
Revised1
217. Per capita
GNP in 1972
dollars
50. Gross national product in 1972 dollars
200. Gross national product in current dollars
c. Percent
change at
annual rate
b. Difference
Total
Revised1
(Ann. rate,
bil. dol.)
(Ann. rate,
bil. dol.)
Revised1
Revised1
c. Percent
change at
annual rate
Revised1
213. Final sales
in 1972 dollars
(Ann. rate,
dollars)
(Ann. rate,
bil. dol.)
Revised1
Revised1
2,875.8
2,918.0
3,009.3
3,027.9
139.8
42.2
91.3
18.6
22.1
6.0
13.1
2.5
1,513.5
1,511.7
1,522.1
1,501.3
35.6
-1.8
10.4
-20.8
10.0
-0.5
2.8
-5.4
6,603
6,580
6,607
6,500
1,505.4
1,499.4
1,504.6
1,494.0
3,026.0
3,061.2
3,080.1
3,109.6
-1.9
35.2
18.9
29.5
-0.2
4.7
2.5
3.9
1,483.5
1,480.5
1,477.1
1,478.8
-17.8
-3.0
-3.4
1.7
-4.6
-0.8
-0.9
0.5
6,408
6,381
6,349
6,341
1,490.3
1,484.5
1,483.5
1,503.4
3,173.8
3,267.0
3,346.6
3,431.7
64.2
93.2
79.6
85.1
8.5
12.3
10.1
10.6
1,491.0
1,524.8
1,550.2
1,572.7
12.2
33.8
25.4
22.5
3.3
9.4
6.8
5.9
6,379
6,510
6,602
6,681
1,507.5
1,530.9
1,549.3
1,565.4
3,553.3
p3,646.4
121.6
p93.1
14.9
pl0.9
1,610.9
pi,640.2
38.2
p29.3
10.1
p7.5
6,829
p6,939
1,579.3
pi,618.7
1982
First quarter . .
Second quarter
Third quarter .
Fourth quarter
1983
First quarter . .
Second quarter
Third quarter .
Fourth quarter
1984
First quarter , .
Second quarter
Third quarter .
Fourth quarter
PERSONAL CONSUMPTION EXPENDITURES
GNP AND PERSONAL INCOME—Continued
Year
antl
quarter
230. Total in current
dollars
Disposable personal income
224. Current dollars
1981
First quarter . .
Second quarter
Third quarter .
Fourth quarter
225. Constant
(1972) dollars
231. Total in 1972
dollars
232. Durable goods
in current dollars
233. Durable goods
in 1972 dollars
227. Per capita in
1972 dollars
(Ann. rate,
bil. dol.)
(Ann. rate,
bil. dot.)
(Ann. rate,
dollars)
(Ann. rate,
bil. dol.)
(Ann. rate,
bil. dol.)
(Ann. rate,
bil. dol.)
Revised1
Revised1
Revised1
Revised1
Revised1
Revised1
(Ann. rate,
bil. dol.)
Revised1
1,972.5
2,006.0
2,078.6
2,109.8
1,042.5
1,040.7
1,058.1
1,056.0
4,548
4,530
4,593
4,572
1,797.9
1,829.3
1,877.3
1,891.8
950.2
949.1
955.7
946.8
237.8
232.4
242.5
228.9
146.1
140.0
143.5
134.0
2,132.0
2,156.8
2,195.8
2,237.5
1,052.8
1,054.8
1,057.9
1,067.6
4,548
4,546
4,548
4,578
1,931.3
1,960.9
2,001.3
2,046,1
953.7
958.9
964.2
976.3
239.4
241.6
244.5
255.0
138.5
138.8
139.3
145.2
2,261.4
2,302.9
2,367.4
2,428.6
1,073.1
1,082.0
1,102.2
1,124.3
4,591
4,619
4,694
4,776
2,070.4
2,141.6
2,181,4
2,230.2
982.5
1,006.2
1,015.6
1,032.4
259.4
276.1
284.1
299.8
146.8
156.2
159.6
167.2
2,502.2
p2,557.6
1,147.6
pi,167.0
4,865
p4,937
2,276.5
p2>326.7
1,044.1
pi,061.7
310.9
P318.7
173.7
pl77.6
1982
First quarter . .
Second quarter
Third quarter .
Fourth quarter
1983
First quarter . .
Second quarter
Third quarter .
Fourth quarter
198/1
First quarter . .
Second quarter
Third quarter ,
Fourth quarter
NOTE: Series are seasonally adjusted except for those, indicated by (u), that appear to contain no seasonal movement. Series numbers are for identification only and do not reflect series relationships or order.
Complete titles and sources are listed at the back of this issue. The "r" indicates revised; "p", preliminary; "e", estimated; "a", anticipated; and "NA", not available.
Graphs of these series are shown on pages 40 and 41.
1
S e e "New F e a t u r e s a n d Changes f o r T h i s I s s u e , " p a g e i i i .
JULY 1984
OTHER IMPORTANT ECONOMIC MEASURES
NATIONAL INCOME AND PRODUCT—Continued
Q
Year
and
quarter
236. Nondurable
goods in current
dollars
(Ann. rate,
bit. dol.)
1981
Revised1
. First quarter
Second quarter . . . .
Third quarter
Fourth quarter . . . .
i
PERSONAL CONSUMPTION EXPENDITURES-Continued
238. Nondurable
goods in 1972
dollars
237. Services in
current dollars
WL
239. Services in
1972 dollars
(Ann. rate,
bil. doi.)
(Ann. rate,
bil. dol.)
(Ann. rate,
bit. dol.)
Revised1
Revised1
Revised1
240. Total in
current dollars
(Ann. rate,
bif. dol.)
Revised1
GROSS PRIVATE DOMESTIC INVESTMENT
242. Fixed investment, total, in
current dollars
243. Fixed investment, total, in
1972 dollars
(Ann. rate,
bil. dol.)
(Ann, rate,
bil. dol.)
(Ann. rate,
bil. dol.)
Revised1
Revised1
Revised1
241. Total in
1972 dollars
715.4
727.9
736.8
742.6
358.7
361.2
361.6
361.7
844.8
869.0
898.0
920.3
445.4
447.9
450.5
451.2
468.1
481.1
505.8
481.7
228.5
232.8
238.5
223.7
446.2
457.3
466.2
462.8
220.4
220.5
221.0
216.4
746.4
750.6
762.5
770.6
360.5
362.0
363.7
366.0
945.4
968.6
994.2
1,020.6
454.7
458.1
461.2
465.1
436.2
431.2
415.9
376.2
204.7
200.4
194.3
177.8
453.2
442.1
431.3
437.3
211.4
204.5
200.7
202.4
775.2
796.9
811.7
823.0
368.8
374.9
378.5
383.2
1,035.8
1,068.6
1,085.7
1,107.5
466.8
475.1
477.6
482.0
405.0
449.6
491.9
540.0
191.3
212.6
230.6
249.5
447.9
469.0
496.2
527.3
207.8
218.7
229.8
242.2
841.3
P857.8
387.1
P396.0
1,124.4
pi,150.2
483.4
p488.0
623.8
P631.5
285.5
p286.2
550.0
P577.7
253.9
P264.6
1982
First quarter
Second quarter . . . .
Third quarter
Fourth quarter . . . .
1983
First quarter
Second quarter . . . .
Third quarter
Fourth quarter . . . .
1984
First quarter
Second quarter . . . .
Third quarter
Fourth quarter . . . .
• •
• S I
Year
and
quarter
GROSS PRIVATE
DOMESTIC INVEST.-Con.
245. Change in
business inventories in current
dollars
(Ann. rate,
bil. dol.)
1981
Revised1
30. Change in
business inventories in 1972
dollars
(Ann. rate,
bil. dol.)
Revised1
flM
260. Total in
current dollars
261. Total in
1972 dollars
(Ann. rate,
bil. dol.)
(Ann. rate,
bil. dol.)
Revised1
Revised1
GOVERNMENT PURCHASES OF GOODS AND SERVICES
262. Federal
Government in
current dollars
263. Federal
Government in
1972 dollars
(Ann. rate,
bil. dol.)
(Ann. rate,
bil. dol.)
(Ann. rate,
bil. dol.)
(Ann, rate,
bil. dol.)
Revised1
Revised1
Revised1
Revised1
266. State and
local government
in current dollars
267. State and
local government
in 1972 dollars
21.9
23.7
39.7
18.9
8.1
12.4
17.5
7.2
576.6
585.3
601.3
622.7
286.0
285.1
287.4
289.6
215.6
220.9
232.2
246.9
107.4
108.2
111.7
113.8
361.0
364.4
369.1
375.8
178.6
176.9
175.7
175.9
-17.0
-10.9
-15.3
-61.1
-6.7
-4.0
-6.4
-24.6
630.9
633.7
656.3
681.0
290.2
287.0
292.8
300.6
249.8
245.0
261.6
279.4
114.8
111.0
117.2
124.8
381.1
388.7
394.7
401.6
175.4
176.0
175.7
175.8
-42.9
-19.4
-4.3
12.7
-16.5
-6.1
0.9
7.2
678.8
682.2
689.8
691.4
294.3
292.4
292.0
288.8
273.0
270.5
269.2
266.3
119.0
117.2
115.6
113.0
405.8
411.6
420.6
425.1
175.3
175.2
176.4
175.8
73.8
p53.8
31.6
p21.5
704.4
P746.1
289.5
P302.4
267,6
p299.3
112.2
P123.7
436.8
p446.7
177.3
p!78.7
First quarter
Second quarter . . . .
Third quarter
Fourth quarter . . . .
1982
First quarter
Second quarter . . . .
Third quarter
Fourth quarter . . . .
1983
First quarter
Second quarter . . . .
Third quarter
Fourth quarter . . . .
1984
First quarter
Second quarter . . . .
Third quarter
Fourth quarter . . . .
See note on page 80.
Graphs of these series are shown on pages 4 1 , 42, and 4 3 .
L
See "New Features and Changes for This Issue,
JULY 1984
page iii.
81
OTHER IMPORTANT ECONOMIC MEASURES
NATIONAL INCOME AND PRODUCT—Continued
Year
and
quarter
257. Constan
(1972) dollar>
253. Current
dollars
256. Constant
(1972) dollars
252. Current
dollars
255. Constant
(1972) dollars
NATIONAL INCOME
AND ITS COMPONENTS
220. National income in current
dollars
Imports of goods and services
Exports of i;oods and services
Net exports of goods and services
250. Current
dollars
• •
H I
I:OREIGN TRADE
[Q
(Ann. rate,
bil. dol.)
(Ann. rate,
bil. dol.)
280. Compensation of
employees
(Ann. rate,
bil. dol.)
(Ann. rate,
bil. dol.)
(Ann. rate,
bil. dol.)
(Ann. rate,
bil. dol.)
(Ann. rate,
bil. dol.)
Revised1
Revised 1
Revised1
Revised 1
Revised 1
Revised 1
33.1
22.4
48.8
44.8
40.6
41.2
368.4
369.8
368.7
372.8
161.2
161.0
159.3
159.4
335.3
347.5
343.9
341.1
112 .5
116 .3
118 .7
118 .2
2,299.4 \
2,330.6
2,407.Z
2,417.C
1,716.1
6.6
6.3
34.9
34.1
25.7
24.1
359.4
366.3
346.3
321.7
152.2
155.1
146.6
136.7
331.7
330.8
339.7
315.4
117 .3
121 .0
120 .9
112 .6
2 , 4 2 2 . :\
2,443.5 )
2,452.4 I
2,468.6
1,834.2
1,857.7
1,876.3
1,888.7
19.6
-6.5
-16.4
-29.8
22.9
13.6
11.9
2.0
328.5
328.1
342.0
346.1
138.2
137.0
141.6
141.0
308.9
334.5
358.4
375.9
115 .3
123 .4
129 .7
139 .1
2.527.C)
2,609.C)
2,684.4
2,766.E
1,921.3
1,962.4
2,000.7
2,055.4
-51.5
p-58.0
-8.3
p-10.0
358.9
p371.4
144.9
pl48.8
410.4
p429.4
153 2
pl58 8
2 873 5
(NA)
2,113.4
(Ann. rate,
bil. dol.)
Revised
Revised1
L
1981
First quarter
Second quarter . . . .
Third quarter . . . . .
Fourth quarter . . . .
24.8
31.7
1,747.6
1,785.5
1,812.5
1982
27.7
35.5
First quarter
Second quarter . . . .
Third quarter . . . . .
Fourth quarter
1983
First quarter
Second quarter . . . .
Third quarter
Fourth Quarter
1984
First quarter
Second quarter . . . .
Third quarter . . . . .
Fourth quarter . . . .
Q l
1
Vpar
quarter
282. Proprietors
income with inventory valuation and
capital consumption adjustments
(Ann. rate,
bil. dol.)
1981
First quarter . . . . . .
Second quarter . . . .
Third quarter
Fourth quarter . . . .
Q
NATIONAL INCOME ANC ITS COMPONENTS-Continued
284. Rental income
of persons with
capital consumption adjustment
(Ann. rate,
bil. dol.)
286. Corporate
profits with inventory valuation and
capital consumption adjustments
(Ann. rate,
bil. dol.)
288. Net interest
(Ann. rate,
bil. dol.)
290. Gross saving
(private and government)
(Ann. rate,
bil. dol.)
SAVING
295. Business
saving
(Ann. rate,
bil. dol.)
292. Personal
saving
(Ann. rate,
bil dol.)
Revised1
Revised1
Revised1
Revised 1
Revised 1
Revised 1
Revised1
127.8
123.9
129.7
119.1
38 .7
40 .8
42 .9
46 .8
194.8
184.3
195.7
184.9
222.0
233.9
253.9
254.4
469.0
475.9
503.0
489.5
355.8
364.1
380.3
390.2
121.8
122.1
145.0
160.6
116.8
107.7
102.2
117.6
47 .8
48 .3
52 .9
57 .0
159.9
161.7
163.3
151.6
263.6
268.5
257.7
253.8
447.0
445.4
397.9
344.8
378.3
386.2
393.8
393.9
142.6
136.7
134.5
130.2
114.7
116.9
123.3
131.9
57 .7
59 .0
56 .2
60 .4
179.1
216.7
245.0
260.0
254.2
254.2
259.2
258.9
393.4
414.7
455.2
485.7
417.0
441.4
469.7
486.4
128.0
96.7
119.0
128.7
154.9
P152.9
61 .0
p62 .4
277.4
(NA)
266.8
p280.6
543.9
(NA)
498.8
(NA)
152.5
pl54.0
1982
First quarter
Second quarter . . . .
Third quarter . . . . .
Fourth quarter
1983
First quarter
Second quarter . . . .
Third quarter
Fourth quarter . . . .
1984
First quarter
Second quarter . . . .
Third quarter
Fourth quarter
See note on page 80.
Graphs of these series are shown on pages 44, 45, and 46.
x
See "New Features and Changes for This Issue," page
82
in.
JULY 1984
OTHER IMPORTANT ECONOMIC MEASURES
NATIONAL INCOME AND PRODUCT—Continued
Q
Year
and
quarter
298.
SAVING—Continued
Government
Q
293. Personal
Percent of gross national product
surplus or deficit,
saving rate
total
(percent of disf
(Ann.
posable personal
235.
income)
sumption expendi-
Personal con-
248. Nonresidential
249. Residential
247.
fixed investment
fixed investment
business inventories
Change in
251. Net exports of
goods and services
tures, total
rate,
(Percent)
bil. dol.)
Revised
SHARES OF GNP AND NATIONAL INCOME
2
Revised
Revised
(Percent)
(Percent)
(Percent)
2
2
Revised
2
(Percent)
Revised
2
(Percent)
Revised
2
Revised 2
1981
-9.7
6.2
62.5
11.6
3.9
0.8
1.2
Second quarter . . . .
-11.4
6.1
62.7
11.9
3.7
0.8
0.8
Third quarter
-23.3
7.0
62.4
12.1
3.4
1.3
0.8
Fourth quarter . . . .
-62.4
7.6
62.5
12.2
3.1
0.6
1.0
-73.8
0.9
First quarter
1982
First quarter
6.7
63.8
12.1
2.9
-0.6
-77.6
6.3
64.1
11.5
3.0
-0.4
1.2
Third quarter
-130.4
6.1
65.0
11.1
2.9
-0.5
0.2
Fourth quarter . . . .
-179.2
5.8
65.8
10.9
3.1
-2.0
0.2
Second quarter . . . .
1983
First quarter
-151.7
5.7
65.2
10.5
3.6
-1.4
0.6
Second quarter . . . .
-123.4
4.2
65.6
10.4
4.0
-0.6
-0.2
Third quarter
-133.5
5.0
65.2
10.6
4.3
-0.1
-0.5
F o u r t h quarter . . . .
-129.3
5.3
65.0
11.2
4.2
0.4
-0.9
1984
First quarter
-107.4
6.1
64.1
11.2
4.3
(NA)
p6.0
p63.8
pll.6
p4.3
Second quarter . . . .
2.1
pi.5
-1.4
p-1.6
Third Quarter
Fourth quarter . . . .
^ J SHARES 0
:
Year
GNP AND NATIONAL INCOME—Continued
Percent of national income
Percent of GNP—Continued
and
quarter
265. Federal Govern-
268. State and local
64.
ment purchases of
government purchases
employees
goods and services
C2)
First quarter
Second quarter . . . .
Third quarter
Fourth quarter . . . .
7.5
7.6
7.7
8.2
(Percent)
283.
Proprietors'
income with IVA
(Percent)
285.
Rental income
of persons with
l
and CCAdj'
of goods and services
(Percent)
1981
Compensation of
profits with IVA
and CCAdj'
CCAdj
(Percent)
(Percent)
289. Net interest
287, Corporate
(Percent)
(Percent)
Revised2
Revised 2
Revised2
Revised 2
Revised2
Revised2
12.6
74.6
5.6
75.0
5.3
12.3
74.2
5.4
12.4
75.0
4.9
1.7
1.8
1.8
1.9
8.5
12.5
9.7
10.0
10.5
10.5
7.9
8.1
7.6
1982
First quarter
8.3
12.6
75.7
4.8
Second quarter . . . .
8.0
12.7
76.0
4.4
2.0
6.6
Third quarter
8.5
12.8
76.5
4.2
2.2
6.7
Fourth quarter . . . .
9.0
12.9
76.5
4.8
2.3
6.1
10.9
11.0
10.5
10.3
4.5
4.5
4.6
4.8
2.3
7,1
10.1
2.3
8.3
9.7
2.1
9.1
9.7
2.2
9.4
9.4
5.4
(NA)
2.1
(NA)
9.7
(NA)
9.3
(NA)
2.0
6.6
1983
First quarter
Second quarter
Third quarter
Fourth quarter . . . .
8.6
12.8
r8.3
12.6
r8.0
12.6
r7.8
12.4
76.0
75.2
74.5
74.3
r7.5
p8.2
12.3
p!2.3
73.5
(NA)
1984
First quarter
Second quarter . . . .
Third quarter
Fourth quarter . . . .
See note on page 80.
Graphs of these series are shown on pages 46 and 47.
1
IVA> inventory valuation adjustment; CCAdj, capital consumption adjustment.
See "New Features and Changes for This Issue," page iii.
2
JULY 1984
83
OTHER IMPORTANT ECONOMIC MEASURES
PRICES, WAGES, AND PRODUCTIVITY
PRICE MOVEMENTS
Implicit price deflator,
gross national product
Year
and
month
1982
310. Index
310c. Change
over 1-quarter
spans l
Fixed-weighted price index,
gross business product
(Ann. rate,
percent)
282.5
283.4
283.1
0.4
0.2
-0.1
4.4
6.0
281.8
283.4
282.7
0.9
0.6
-0.2
3.7
4.8
5.8
4.4
284.3
287.1
290.6
0.4
0.9
1.1
6.2
6.2
6.6
283.4
285.3
287.2
0.2
0.7
0.7
4.2
2.4
3.2
5.6
292.2
292.8
293.3
0.5
0.3
0.0
6.6
4.7
287.6
286.8
287.2
0.1
-0.3
0.1
3.0
1.8
0,6
3.7
294.1
293.6
292.4
0.4
0.0
-0.3
1.4
0.7
0.8
287.6
287.9
288.0
0.0
0.9
1.6
2.2
2.7
293.1
293.2
293.4
0.3
-0.1
0.1
1.4
2.3
3.3
288.
289,
290
0.3
2.7
2.9
2.4
3.9
295.5
297.1
298.1
0.7
0.4
0.2
3.4
4.3
5.0
291,
292.
291,
0.4
0.2
-0.2
1.6
1.8
1.4
4.5
225.0
299.3
300.3
301.8
0.4
0.4
0.4
4.4
4.2
4.3
291,
291,
292.3
-0.1
0.2
0.2
1.4
1.4
2.7
3.5
226.9
302.6
303.1
303.5
0.4
0.4
0.2
4.8
4.8
4.5
293.5
294.1
295.4
0.4
0.2
0.4
6.3
7.3
6.6
4.2
305.2
306.6
307.3
0.6
0.4
0.2
4.6
4.3
4.1
300.2
302.2
301.8
1.6
0.7
-0.1
5.7
4.7
4.0
P3.3
308.8
309.7
310.7
0.5
0.2
0.2
301.7
300.9
301.3
0.0
-0.3
0.1
Revised2
Revised2
Revised2
4.6
208.5
October
November . . .
December , . .
210.3
(Ann. rate,
percent)
(Percent)
Revised2
July
August
September . . .
(Percent)
(1967 = 100)
(Ann. rate,
percent)
206.8
322c. Change
over 6-month
spans'
320c. Change
over 6-month
spans'
(1972-100)
April
May
June
322c. Change
over 1-month
spans >
320c. Change
over 1-month
spans'
311c. Change
over 1-quarter
spans'
(Ann. rate,
percent)
204.0
322. Index
320. Index <g>
311. Index
(1972-100)
January
February
March
Consumer prices, food
Consumer prices, all items
5.3
211.7
5.6
214.1
3.4
217.0
3.4
218.9
3.5
(1967 = 100)
1983
January
February
March
212.9
April
May
June
214.3
July
August
September . . .
215.9
5.0
220.4
2.6
October
November . . .
December . . .
222.5
3.1
4.4
218.2
1984
January
February
March
April
May
June
4.4
220.6
229.3
P3.2
p222.3
P231.1
July
August
September . . .
October
November . . .
December , . .
See note on page 80.
Graphs of these series are shown on pages 48 and 49.
Changes are centered within the spans: 1-month changes are placed on the 2d month, 6-month changes are placed on the 4th month, and
1-quarter changes are placed on the 1st month of the
quarter.
he 2d quar
2
See "New Features and Changes for This Issue, page iii.
JULY 1984
OTHER IMPORTANT ECONOMIC MEASURES
B I PRICES, WAGES, AND PRODUCTIVITY—Continued
^ H
Producer prices, industrial commodities
Producer prices, all commodities
Year
and
month
330. Index
©
(1967 = 100)
330c. Change
over 1-month
spans! ®
(Percent)
PRICE MOVEMENTS-Continued
330c. Change
over 6-month
spans' ©
335. Index
©
(Ann. rate,
percent)
(1967 = 100)
335c. Change
over 1-month
spansl ©
(Percent)
Producer prices, crude materials
335c. Change
over 6-month
spans' ©
(Ann. rate,
percent)
331. Index
(1967 = 100)
331c. Change
over 1-month
spans'
(Percent)
331c. Change
over 6-month
spansl
(Ann. rate,
percent)
1982
January
February
March
298.3
298.6
298.0
0.8
0.1
-0.2
1.3
2.1
2.4
311.8
311.6
311.0
0.6
-0.1
-0.2
0.6
0.2
0.4
320.4
319.5
317,9
1.3
-0.3
-0.5
-2.2
3.0
4.8
April
May
June
298.0
298.6
299.3
0.0
0.2
0.2
1.4
1.1
0.9
309.9
309.6
310.6
-0.4
-0.1
0.3
0.6
1.0
1.1
320.0
324.2
323.7
0.7
1.3
-0.2
0.2
-1.1
-1.3
July
August
September
300.4
300.2
299.3
0.4
-0.1
-0.3
1.2
1.1
0.9
312.8
313.2
312.7
0.7
0.1
-0.2
2.9
3.5
3.0
320.8
317.8
315.8
-0.9
-0.9
-0.6
-2.9
-3.1
-3.7
October
November
December
299.8
300.3
300.7
0.2
0.2
0.1
-0.3
0.5
0.9
314.3
315.0
315.2
0.5
0.2
0 1
0.7
0.4
0 5
315.4
319.1
317 7
-0.1
1.2
-0 4
-2.8
0.4
2 8
January
February
March
299.9
300.9
300.6
-0.3
0.5
0.8
1.1
313.9
313.9
313.5
-0.4
0.0
-0.1
-1.2
-0.9
0.1
316.2
318.5
320.2
-0.5
0.7
0.5
5.0
1.6
2.2
April
May
June
300.6
301.5
302.4
0.0
0.3
0.3
2.2
2.5
3.2
312.4
313.6
315.3
-0.4
0.4
0.5
1.7
2.2
2.3
323.2
321.6
321.1
0.9
-0.5
-0.2
1.1
4.1
5.4
July
August
September
303.2
304.7
305.3
0.3
0.5
0.2
3.6
2.7
2.5
316.5
317.3
317.1
0.4
0.3
-0.1
3.9
3.0
2.0
317.9
325.0
328.8
-1.0
2.2
1.2
3 7
5.5
7.9
October
November
December
306.0
305.5
306 1
0,2
-0.2
0.2
3.2
r2.8
3 8
318.5
318.3
318.4
0.4
-0.1
0.0
1.6
r2.1
3 1
329.2
330.4
TOO C
0.1
0.4
1 0
11.7
r3,7
c c
308.0
r308.9
311.1
0.6
0.3
0.7
3.6
4.1
3.5
319.1
r320.6
321.9
0.2
r0.5
rO.4
2.5
3.2
3.5
336.0
r330.9
337.7
0.7
-1.5
r2.1
5.1
2.4
-1.5
311.4
311.7
311 4
0.1
0.1
-0 1
322.5
323.3
0.2
0.2
n ?
337.5
334.3
331 1
-0.1
-0.9
-1 0
1983
0.3
-0.1
1984
January
February
March
. .
April
May
June
July .
August
September
October
November
December
See note on page 80.
Graphs of these series are shown on page 48.
x
Changes are centered within the spans:
ItCII
JULY 1984
1-month changes are placed on the 2d month and 6-month changes are placed on the 4th month.
85
OTHER IMPORTANT ECONOMIC MEASURES
B
I
PRICES, WAGES, AND PRODUCTIVITY—Continued
Q
]
Producer prices, intermediate materials
Year
and
month
332. Index
(1967 = 100)
332c. Change
over 6-month
spans'
332c. Change
over 1-month
spans'
(Percent)
PRICE MOVEMENTS-Continued
Producer prices, finished consuner goods
Producer prices, capital equipment
333. Index
(Ann. rate,
percent)
(1967 = 100)
333c, Change
over 1-month
spans'
(Percent)
333c. Change
over 6-month
spans'
334. Index
(Ann. rate,
percent)
(1967-100)
334c. Change
over 1-month
spans l
(Percent)
334c. Change
over 6-month
spans'
(Ann. rate,
percent)
1982
January
February
March
311.6
311.1
310.1
0.3
-0.2
-0.3
-0.5
-0.7
-0.6
275.2
274.5
276.0
0.6
-0.3
0.5
4.9
4.4
4.4
278.2
278.3
277.5
0.7
0.0
-0.3
2.3
1.3
2.7
April
May
June
309.0
309.1
309.8
-0.4
0.0
0.2
-0.7
-0.6
0.2
276.8
277.9
279.5
0.3
0.4
0.6
3.9
5.4
4.3
277.8
277.4
280.1
0.1
-0.1
1.0
2.3
3.1
3.8
July
August
September
310.5
310.2
310.4
0.2
-0.1
0.1
0.8
1.3
1.0
280.5
281.8
281.9
0.4
0.5
0.0
3.7
3.6
3.5
281.4
282.6
282.7
0.5'
0.4
0.0
4.4
6.0
4.3
October
November
December
310.3
311.1
311.3
0.0
0.3
0.1
-0.5
-0.2
-0.8
281.9
282.8
284.3
0.0
0.3
0.5
2.6
2.3
2.8
283.8
285.6
286.1
0.4
0.6
0.2
1.4
0.6
0.0
January
February
March
309.8
309.9
309.1
-0.5
0.0
-0.3
-1.5
-1.3
0.0
284.1
285.0
285.8
^0.1
0.3
0.3
2.9
2.6
1.9
283.4
283.4
282.7
-0.9
0.0
-0.2
-0.8
-1.5
-1.0
April .
May . .
June ,
307.9
309.1
311.3
-0.4
0.4
0.7
1.6
2.3
4.1
285.9
286.5
287.0
0.0
0.2
0.2
2.4
2.7
1.9
282.6
283.5
284.7
0.0
0.3
0.4
0.8
1.5
2.4
July
August
September
312.2
313.4
315 3
0.3
0.4
0.6
5.5
4.9
3 8
287.5
288.8
288 5
0.2
0.5
-0 1
1.9
1.8
2 0
284.6
285.5
286 1
0.0
0.3
0 2
2.9
2.0
1 4
October
November
Oecember
316.2
316.6
317 1
0.3
0.1
02
3.1
r2.7
2.4
288.6
289.0
289.8
0.0
0.1
03
2.1
r2.0
3 1
286.6
286.3
286 7
0.2
-0.1
0 1
2.9
3.0
3 7
317.0
r317.6
319.1
0.0
r0.2
0.5
2.0
2.3
2.9
290.5
r291.7
292.9
0.2
r0.4
r0.4
288.7
r289.8
291.3
0.7
r0.4
rO.5
3.0
3.0
2.6
319.3
320.2
321.6
0.1
0.3
0.4
293.8
294.4
294.5
0.3
0.2
0.0
290.9
290.6
290.4
-0.1
-0.1
-0.1
1983
1984
January . ,
February
March
April
May
June
3.6
3.8
3.3
July
August
September
October
November
December , , .
See note on page 80.
Graphs of these series are shown on page 48.
Changes arc centered within the Spans:
1
1-month changes are placed on the 2d month and 6-month changes are placed on the 4th month.
JULY 1984
OTHER IMPORTANT ECONOMIC MEASURES
B
I
PRICES, WAGES, AND PRODUCTIVITY—Continued
H
WAGES AND PRODUCTIVITY
Average hourly earnings, production workers, private nonfarni
Year
nonfarm business sector
Real earnings
Current-dollar earnings
and
Average hourly compensation, all employees,
economy, adjusted
Current-dollar compensation
month
340.
Index
(1977 = 100)
340c. Change
over 1-month
spans2
(Percent)
340c. Change
over 6-month
spans2
(Ann. rate,
percent)
341. Index
341c. Change
over 1-month
spans2
341c. Change
(Percent)
Index
spans
2
(Ann.
(1977 = 100)
345.
over 6-month
rate,
percent)
(1977 =
100)
345c. Change
over 1-quarter
spans2
(Ann. rate,
percent)
345c. Change
over 4-quarter
spans 2
(Ann.
rate,
percent)
1982
January
145.1
February
145.2
145.7
1.2
0.1
0.3
6.6
6.5
6.8
93.2
93.0
93.5
0.8
-0.1
0.5
146.5
147.6
148 1
0.5
0.7
0 4
5.5
6.5
6 4
93.7
93.5
0.2
-0.2
-0 7
-0.6
0.4
149.0
149.9
150.3
0.6
0.6
0.2
6.1
5.1
5.6
92.9
93.2
93.4
0.0
0.3
0.2
-0.6
0.3
3.5
155^7
150.9
151.3
152.2
0.4
0.3
0.6
5.2
5.0
4.5
93.4
93.6
94.5
0.0
0.3
0.9
4.2
4.5
3.6
157.9
152.9
153.6
153 6
0.4
0.5
0 0
4.4
4.6
3 8
94.8
95.3
95 1
0.4
0.5
-0 2
3.1
2.5
1 0
160.4
154.2
154.7
155.1
0.4
0.3
0.2
3.7
2.4
3.4
94.8
94.8
94.9
-0.2
0.0
0.1
0.3
-1.9
-1.1
162.1
155.6
155.4
156.2
0.4
-0.1
0.5
3.7
3.2
3.5
94.9
94.4
94.5
0.0
-0.6
0.2
-0.3
-0.5
-0.1
163.7
157.1
157.2
157.8
0.5
0.1
0.4
3.7
4.0
3.7
94.7
94.6
94.9
0.2
-0.2
0.3
-0.3
0.8
1.2
165.'6
158.4
158.5
159.1
0.4
0.1
0.4
3.6
r3.0
p2.9
94.8
94.8
95.1
0.0
-0.1
0.3
1.4
r0.6
p0.4
167!s
159.9
rl59.6
P160.0
0.5
r-0.2
p0.3
March
April
May
June
July
August
September
October
November
December
Q? Q
3.3
2.2
15l!6
10.0
7^6
1.0
-D
153.'i
5.7
Y.\
1
7.1
6\3
5.8
5*.8
1983
January
February
March
April
May
June
July
August
September
October
November
December
6.8
5.'i
4.1
4.0
4*. 6
4.8
(NA)
1984
January
February
March
April
May
June
95.4
94.9
p95.0
0.3
r-0.6
p0.2
5.3
(NA)
(NA)
July
August
September
October
. ,
November
December
See note on page 80.
Graphs of these series are shown on pages 49 and 50.
Adjusted for overtime (in manufacturing only) and interindustry employment shifts.
Changes are centered within the spans: 1-month changes are placed on the 2d month, 6-month changes are placed on the 4th month, 1-quarter changes are placed on the 1st month of the 2d quarter, and 4-quarter changes are placed on the middle month of the 3d quarter.
2
BCD
JULY 1984
87
OTHER IMPORTANT ECONOMIC MEASURES
PRICES, WAGES, AND PRODUCTIVITY—Continued
| |
Average hourly compensation, all employees,
nonfarm business sector—Continued
Year
and
month
346c. Change
over 1-quarter
spans'
(1977 = 100)
(Ann. rate,
percent)
Negotiated wage and benefit
decisions, all industries (u)
348. First year
average changes
Real compensation
346. Index
WAG* AND PRODUCTIVITY—Continued
346c. Change
over 4-quarter
spans'
(Ann. rate,
percent)
349. Average
changes over
life of
contract
(Ann. rate,
percent)
(Ann. rate,
percent)
1.9
1.2
Output f )er hour, all persons, private
business sector
370. Index
(1977 = 100)
370c. Change
over 1-quarter
spansl
370c. Change
over 4-quarter
spansl
(Ann. rate,
percent)
(Ann. rate,
percent)
358, Index of
output per hour
all persons,
nonfarm
business sector
(1977-100)
1982
6.8
January
February
March
96\7
April
May
June
96.8
July
August
September
96.7
October
November
December
97.6
Wl
0.4
2.6
ioi!i
2.1
2.5
-0.4
100! 6
-1.6
0.7
100.7
6.2
-0.7
99.9
...
...
...
4.7
2.6
1.7
101.1
1.3
100.4
3.1
100.8
3*0
101*6
3*3
103.4
3.9
104.6
(NA)
104.'7
...
...
3.7
3.3
3.3
4.8
2.4
101.9
1983
January .
February
March
99*2
April
May
June
99.1
July
August
September
99.1
October
November
December
99*2
-1.6
6.3
1.4
2.4
4.4
-0.2
6!i
0.4
5.9
3.6
1.5
-0.1
1.9
102.4
103.* 9
5.0
4.3
1.2
104*2
4.9
3.1
(NA)
4.2
105*3
1984
January
February
March
99*3
April
May
June
(NA)
0.4
r5.2
r4.8
4.1
105.6
106.3
(NA)
p3.6
P3.1
(NA)
(NA)
(NA)
July
August
September . ,
October
November
December .
See note on page 80.
Graphs of these series are shown on pages 49 and 50.
1
Changes are centered within the spans:
on the middle month of the 3d quarter.
l~quarter changes are placed on the 1st month of the 2d quarter and 4-quarter changes are placed
JULY 1984
OTHER IMPORTANT ECONOMIC MEASURES
C
I
LABOR FORCE, EMPLOYMENT, AND UNEMPLOYMENT
D
1 CIVILIAN LABOR FORCE ANDMAJOR COMPONENTS
Civilian labor force
Year
and
month
441. Total
(Thous.)
442. Employed
(Thous.)
Labor force participation rates
Number unemployed
451. Males
20 years
and over
452. Females
20 years
and over
453. Both
sexes, 16*19
years of age
(Percent)
(Percent)
(Percent)
37. Total
(Thous.)
444. Males
20 years
and over
445, Females
20 years
and over
446. Both
sexes, 16-19
years of age
(Thous.)
(Thous.)
(Thous.)
447. Fulltime
workers
(Thous.)
448. Number employed
part-time
for economic
reasons
(Thous.)
1982
January
February
March
109,075
109,503
109,664
99,682
99,810
April
May
June
99,754
78.6
78.7
78.7
52.2
52.4
52.6
54.2
54.8
54.2
9,393
9,693
9,910
4,374
4,427
4,615
3,117
3,293
3,405
1,902
1,973
1,890
7,820
7,989
8,335
4,961
5,413
5,591
109,901
110,542
110,133
99,598
100,179
99,653
78.8
79.0
78.8
52.6
52.9
53.0
54.5
55.5
52.4
10,303
10,363
10,480
4,766
4,787
5,065
3,571
3,568
3,550
1,966
2,008
1,865
8,605
8,739
8,914
5,756
5,781
5,696
..
110,399
110,473
110,679
99,503
99,563
99,412
78.8
78.6
78.9
53.0
53.0
52.8
53.2
53.9
54.1
10,896
10,910
11,267
5,207
5,245
5,563
3,682
3,668
3,693
2,007
1,997
2,011
9,128
9,188
9,580
5,627
5,886
6,436
October
November
December . . . .
110,690
110,923
110,873
99,146
99,036
98,979
78.8
78.8
78.6
52.7
52.9
53.0
54.2
54.5
53.7
11,544
11,887
11,894
5,710
5,847
5,836
3,814
3,995
4,026
2,020
2,045
2,032
9,907
10,115
10,171
6,445
6,344
6,367
January
February
March
110,677
110,688
110,735
99,154
99,172
99,316
78.2
78.2
78.2
53.0
52.9
52.9
53.5
53.1
53.2
11,523
11,516
11,419
5,623
5,717
5,595
3,979
3,933
3,891
1,921
1,866
1,933
9,811
9,865
9,744
6,678
6,362
6,169
April
May
June
110,975
110,950
111,905
99,606
99,762
100,743
78.4
78.4
78.7
52.9
52.8
53.2
53.0
52.6
54.7
11,369
11,188
11,162
5,682
5,583
5,352
3,780
3,748
3,837
1,907
1,857
1,973
9,727
9,514
9,332
6,077
5,965
5,886
July
August
September
111,825
112,117
112,229
101,225
101,484
101,876
78.7
78.6
78.6
53.1
53.3
53.4
53.7
54.4
53.8
10,600
10,633
10,353
5,217
5,150
5,065
3,524
3,598
3,512
1,859
1,885
1,776
8,985
8,964
8,747
5,700
5,866
6,027
October
November
December
111,866
112,035
112,136
101,970
102,606
102,941
78.4
78.4
78.3
53.2
53.2
53.2
52.8
53.3
53.7
9,896
9,429
9,195
4,809
4,596
4,392
3,366
3,215
3,181
1,721
1,618
1,622
8,319
7,900
7,658
5,724
5,848
5,712
112,215
112,693
112,912
103,190
103,892
104,140
78.3
78.4
78.3
53.0
53.3
53.4
53.0
53.9
54.2
9,026
8,801
8,772
4,300
4,128
4,020
3,182
3,120
3,144
1,543
1,553
1,608
7,532
7,283
7,301
5,943
5,808
5,463
113,245
113,803
113,877
104,402
105,288
105,748
78.3
78.3
78.4
53.7
54.2
54.0
54.4
54.4
54.7
8,843
8,514
8,130
4,095
3,861
3,755
3,186
3,124
2,955
1,562
1,529
1,419
7,398
7,058
6,524
5,593
5,353
5,491
July
August
September
1933
1934
January
February
March
.
April
May
June
.
July
August
September
October
November
December
See note on page 80.
Graphs of these series are shown on page 51.
JULY 1984
OTHER IMPORTANT ECONOMIC MEASURES
£) I
GOVERNMENT ACTIVITIES
Q
RECEIPTS \ND
/
500. Surplus
or deficit
(Ann, rate,
bil. dol.)
Revised
2
501. Receipts
502. Expenditures
510. Surplus
or deficit
511. Receipts
512. Expenditures
(Ann. rate,
bil. dol,)
(Ann. rate,
bil. dol.)
(Anr. rate,
bil. dol.)
(Ann. rate,
bil. dol.)
(Ann. rate,
bil. dol.)
Revised
2
Revised
2
Revised
2
Revised
2
DEFENSE INDICATORS
Advance measures of defense activity
State and local governments'
Federal Governmen
Year
and
month
Q
EXPENDITURES
Revised
517. Defense
Department
gross obligations incurred
525. Defense
Department
military prime
contract
awards
543. Defense
Department
gross unpaid
obligations
outstanding
548. Value of
manufacturers1
new orders,
defense
products
(Mil. dol.)
(Mil. dol.)
(Mil. dol.)
(Mil. dol.)
2
1982
-10613
622! 9
729*3
32.5
430.1
397.6
19,361
20,608
18,869
9,756
13,761
9,870
98,818
102,677
105,418
6,987
6,639
6,917
-112*6
625*9
737*9
34*4
440*1
40!5.'7
20,793
17,786
17,503
10,518
9,657
14,296
108,428
108,841
109,654
6,386
5,273
5,752
-163*7
609! 9
773*6
33.3
445*9
412*6
17,669
16,448
18,387
8,610
8,928
10,296
110,885
110,787
111,857
5,055
5,762
4,149
-210.6
608 ,*3
818.9
31.5
451.6
420.2
16,476
18,599
24,396
5,423
10,209
17,298
111,866
113,647
119,788
5,978
5,769
10,410
January
February
March
-185*7
619*8
805*6
34.'l
458.3
424 .*2
21,340
19,502
20,444
16,908
13,042
7,351
122,628
123,803
125,570
9,419
5,105
6,751
April
May
June
-167*3
649! 3
816^7
43.9
473*5
429*6
19,332
19,554
21 518
10,132
10,111
10 814
126,165
126,532
129 720
7,309
4,805
7 692
July
August
September
-180*9
640*2
821* 1
47*4
486 ."i
438.* 7
19,409
20,489
20,388
11,017
10,727
10,921
131,172
130,829
133,056
6,750
5,103
5,154
October
November
December
-180.5
655*. 6
835 '.5
si! 2
495! 6
443*8
17,201
24,242
24,204
2,820
16,140
9,463
131,130
139,062
141,820
6,566
9,004
7,600
-iei.3
686*4
847*6
53*9
509! 6
455^7
21,145
22,667
23,445
15,089
14,273
pl3,779
142,169
145,648
150,842
6,608
7,289
11,539
(NA)
p866*9
(NA)
(NA)
p465*5
19,185
p2O,342
(NA)
(NA)
(NA)
149,369
149,452
(NA)
6,248
r5,679
p6,976
January
February
March
April
May
June
. .
July
August
September
October
November
December
,, ,
1983
1984
January
February
March
April
May
June
July
August
September
October
November
December
See note on pa|je 80.
Graphs of these series are shown on pages 52 and 53.
^ a s e d on n a t i o n a l income and product accounts.
2
See "New Features and Changes for This Issue,"
90
page i i i .
JULY 1984
IN:
OTHER IMPORTANT ECONOMIC MEASURES
GOVERNMENT ACTIVITIES-Continued
DEFENSE INDICATORS-Continued
National defense
purchases
Intermediate and final measures of defense activity
Year
and
month
557. Output of
defense and
space equipment
559. Manufacturers' inventories, defense
products
561. Manufacturers' unfilled
orders, defense
products
580. Defense
Department
net outlays
(1967 = 100)
(Mil.dol.)
(Mil.dol.)
(Mil.dol.)
588. Manufacturers' shipments, defense
products
570. Employment in defense products
industries
(Mil. dot.)
(Thous.)
Defense Department
personnel
577. Military,
active duty ®
578. Civilian,
direct hire
employment @
(Thous.)
(Thous.)
(Ann. rate,
bil. dot.)
Revised
1982
565. Federal
purchases as
a percent of
GNP
564. Federal
purchases of
goods and
services
(Percent)
1
n
January
February
March
105.2
106.5
107.0
13,677
13,841
14,024
81,014
83,275
85,687
14,152
14,689
15,075
4,110
4,378
'4,505
1,386
1,380
1,377
2,104
2,109
2,107
1,008
1,013
1,018
168.4
5.6
April
May
June
107.2
107.7
107.6
14,172
14,251
14,421
87,763
88,318
89,149
15,670
15,379
15,334
4,311
4,717
4,921
1,375
1,370
1,368
2,106
2,104
2,108
1,022
1,028
1,045
175.3
5.7
July
August
September . . ,
109.5
109.5
109.5
14,473
14,714
15,092
89,432
90,418
89,575
16,312
15,050
16,881
4,772
4,776
4,992
1,368
1,358
1,360
2,110
2,109
2,109
1,051
1,043
990
183.3
r6.0
October
November . . .
December . . .
111.9
113.6
115.9
15,402
15,594
15,938
90,534
91,326
96,654
15,972
17,087
16,779
5,020
4,977
5,082
1,356
1,354
1,350
2,108
2,114
2,113
1,016
1,024
1,027
191.0
6.1
January
February
March
116.4
116.1
117.0
16,545
16,458
16,774
100,886
100,716
102,234
17,058
16,772
16,804
5,187
5,275
5,233
1,344
1,346
1,342
2,120
2,122
2,127
1,024
1,028
1,030
194.7
6.1
April
May
June
118.2
117.6
118.0
16,782
17,185
17,295
104,234
103,804
106,114
17,529
16,854
17,189
5,309
5,235
5,382
1,345
1,349
1,354
2,123
2,120
2,116
1,029
1,040
1,049
199.3
6.1
July
August
September . . .
120.4
120.2
121.8
17,400
17,803
17,508
107,2C7
106,908
106,596
16,975
18,455
17,463
5,577
5,482
5,466
1,361
1,344
1,364
2,113
2,115
2,123
1,053
1,052
1,026
200.9
6.0
October
November . . .
December . . .
122.9
124.0
125.7
17,358
17,363
17,759
107,522
110,839
112,761
17,781
17,329
18,726
5,640
5,687
5,678
1,369
1,369
1,378
120
126
2,124
1,034
1,040
1,045
207.2
6.0
January
February
March
128.3
129.5
rl30.1
17,812
18,217
18,537
113,650
115,087
120,894
18,448
17,801
17,794
5,718
5,852
5,731
1,382
1,391
1,400
2,130
2,135
2,140
1,042
1,043
1,046
213.4
6.0
April
May
June
rl32.8
rl33.6
P134.7
18,925
19,492
(NA)
121,158
rl21,088
pl22,219
18,525
rl8,609
pl9,178
5,985
r5,749
p5,845
rl,408
pi,418
p2,138
(NA)
pi,049
(NA)
P221.3
p6.1
1983
1984
(NA)
July
August
September . . .
October
November . . ,
December . . .
See note on page 80.
Graphs of these series are shown on pages 54 and 55.
1
See "New Features and Changes for This Issue, 11 page i n .
JULY 1984
91
OTHER IMPORTANT ECONOMIC MEASURES
E
I
U.S. INTERNATIONAL TRANSACTIONS
MERCHANDISE TRADE
Year
and
month
602. Exports, excluding
military aid shipments,
total
(MiLdol.)
604. Exports of domestic agricultural
products
(Mi!, do!)
606. Exports of nonelectrical machinery
(Mil.dol.)
612. General imports,
total
(Mil.dol.)
614. Imports of
petroleum and
petroleum products
{Mil.dol.)
616. Imports of
automobiles and parts
(Mil. dol.)
1982
January , .
February .
March
18,584
18,614
18,462
3,258
3,590
3,225
4,346
4,054
3,997
22,573
19,570
20,018
6,810
4,396
4,290
2,389
2,135
2,596
April . . . .
May . . . .
June
18,005
18,124
18,823
3,400
3,527
3,332
3,932
3,957
4,211
17,714
20,477
21,187
3,894
180
855
2,389
2,785
2,626
July . . . .
August . .
September
18,060
17,463
17,320
2,789
2,763
2,648
4,305
3,856
4,197
19,849
22,930
20,581
624
731
903
2/55
2,795
2,370
October . .
November
Oecember
16,671
15,852
16,347
2,681
2,783
2,637
3,829
3,686
3,719
21,006
18,892
19,154
5,433
4,757
4,694
2,444
2,130
2,189
January . . . .
February
March
17,232
16,312
16,690
3,128
2,985
2,811
3,644
3,359
3,499
20,127
18,804
19,528
4,166
2,859
3,261
2,329
3,019
2,676
April
May
June
16,095
15,655
16,959
2,891
2,715
2,977
3,513
3,433
3,265
19,914
21,446
20,916
3,252
5,284
4,203
2,746
3,001
2,851
July
August
September . . .
16,486
16,582
17,257
3,072
2,973
3,322
3,655
3,290
3,718
21,828
22,714
22,451
5,220
4,828
5,538
2,988
2,762
2,547
October
November . , .
December . . .
17,033
17,063
17,298
2,979
3,109
3,175
3,689
3,686
3,683
24,333
23,115
22,976
5,232
5,036
3,713
3,154
3,425
3,724
January
February
March
18,326
17,212
17,727
3,457
3,198
3,336
4,009
3,848
3,764
26,586
26,147
26,771
4,456
4,258
5;,287
3,776
3,323
3,728
April
May
June
17,522
17,950
(NA)
3,030
3,245
3,811
3,976
28,368
25,569
6,348
4,783
(NA)
4,011
3,682
(NA)
1983
1984
<NA)
<NA)
(NA)
July
August
September . . .
October
November . . .
December . . .
See note on page 80.
Graphs of these series are shown on page 56.
92
JULY 1984
OTHER IMPORTANT ECONOMIC MEASURES
U.S. INTERNATIONAL TRANSACTIONS—Continued
^
J
GOODS. AND SERVICES MOVEMENTS (EXCLUDING TRANSFERS UNDER MILITARY GRANTS)
Year
668. Exports
667. Balance
Income on nvestments
Merchandise, adjusted'
Goods and services
669. Imports
622. Balance
618. Exports
620. Imports
651. U.S. investments abroad
and
month
(Mil. dot.)
(Mil. dot.)
(Mil. dol.)
(Mil. dol.)
(Mil. dol.)
(Mil. dol.)
(Mil. dol.)
652. Foreign
investments in
the United
States
(Mil. dol.)
1982
January
2,270
90,082
87,8i2
-7,064
55,482
62,546
20,889
13,653
3,729
91,274
87,545
-5,803
55,U8
60,92i
22,307
14,772
-3,231
87,158
90,389
-12,363
52,079
64,442
21,505
14,390
-3,908
80,936
84,844
-11,239
48,5i9
59,758
19,162
13,243
-1,370
81,111
82,481
-9,277
49,246
58,523
17,618
12,380
-7,7*12
81,355
89,067
-14,870
48,745
63,615
18,973
12,995
_q
•yn'i
QA D9fi
QA
C7
Q'iQ
on on?
1*3
-14,127
84,910
99,037
-19,407
51,829
71,236
19,609
14,490
p-17,256
p90,620
plO7,876
p-25,641
p54,164
p79,805
p22,791
pl5,172
(NA)
(NA)
(NA)
(NA)
(NA)
(NA)
(NA)
(NA)
February
March
April
May
June
...
July
August
September
October
November
December
1983
January
February
March
April
May
June
July
August
September
October . .
November .
December
cpq
-17
Rfl1
C1A
1984
January
February
March
April
May
June
July
August
September
October
November
December
.
See note on page 80.
Graphs of these series are shown on page 57.
balance of payments basis: Excludes transfers under military grants and Department of Defense sales contracts (exports) and Department
of Defense purchases (imports).
JULY 1984
93
OTHER IMPORTANT ECONOMIC MEASURES
INTERNATIONAL COMPARISONS
Q |
47. United States,
index of industrial production
Year
and
month
(1967-100)
INDUSTRIAL PRODUCTION
721. OECD1
European countries, index of
industrial
production
728. Japan,
index of industrial production
(1967-100)
(1967 = 100)
(1967 = 100)
(1967 = 100)
725. West
Germany, index
of industrial
production
726. France,
index of industrial production
722. United
Kingdom, index
of industrial
727. Italy, index
of industrial
production
723. Canada,
index of industrial production
production
(1967 = 100)
(1967-100)
(1967 = 100)
1982
140.7
142.9
141.7
153
154
154
232.7
231.4
233.4
153
154
156
157
155
155
118
118
118
161.9
169.9
165.6
155.5
153,8
152.2
April
May
June
140.2
139.2
138.7
153
153
151
230,5
228.2
231.4
154
153
151
157
157
157
119
120
119
164.7
162.7
154 9
149,4
150,2
147.0
July
August
September
138.8
138.4
137.3
150
148
150
230.5
230.7
231.8
148
150
148
154
154
154
119
120
120
159.6
146.4
154.0
142.4
148.6
144.6
October
November
December
135.7
134.9
135.2
148
150
148
225.7
230.7
228.4
146
146
145
155
157
154
120
118
120
149.8
155.4
151.9
140.5
141.1
140.3
January
February . . . . . . . .
March
137.4
138.1
140.0
150
rl50
rl50
229.5
228.0
r232.7
146
148
150
157
155
155
122
122
120
152.0
152.2
149.4
147.7
147.6
148 3
April
May .
June
142.6
144.4
146.4
150
151
151
r233.0
r235.2
r235.9
150
150
154
155
160
157
122
122
120
142.1
145.9
R
150.0
151.7
155 0
July
August
September
149.7
151,8
153.8
rl51
151
153
r236.4
r242.3
r245.0
150
151
153
160
160
157
123
123
124
146.7
143.3
147.0
156.9
159.1
162.0
October
November
December
155.0
155.3
156.2
rl51
rl54
154
r244.5
r247.7
r250.9
153
156
156
155
160
160
124
rl25
127
144.7
154.5
143.9
rl62.7
164.1
165.3
158,5
160.0
158
156
154
r251.4
r260.2
r256.4
156
159
154
160
rl57
rl60
127
125
rl24
pl55.3
(NA)
r'168.4
r:t63.2
r!64.9
rl62.2
rl62.8
P163.6
pl56
(NA)
r260.2
(NA)
pl53
(NA)
p!57
(NA)
pl24
(NA)
January
February
March
. .
....
1983
141
1984
January
February .
March .
April . ,
May
June
160.8
166.2
pl65.6
(NA)
July . . .
August
September . . . .
October
November . . .
December .
See note on page 80.
Graphs of these series are shown on page 58.
^Organization for Economic Cooperation and Development.
94
JULY 1984
OTHER IMPORTANT ECONOMIC MEASURES
INTERNATIONAL COMPARISONS—Continued
Q
Japan
United States
Year
and
month
320. Index ©
(1967 = 100)
320c. Change
over 6-month
spans'
(Ann. rate,
percent)
738. Index ®
(1967 = 100)
CONSUMER PRICES
West Germany
738c. Change
over 6-month
spans1
(Ann, rate,
percent)
735. Index ©
(1967 = 100)
France
735c. Change
over 6-month
spans'
(Ann. rate,
percent)
736. Index ©
United Kingdom
736c. Change
over 6-month
spans'
(1967 = 100)
(Ann, rate,
percent)
732. Index ©
(1967 = 100)
732c. Change
over 6-month
spans'
(Ann. rate,
percent)
1982
January
February
March
282.5
283.4
283.1
3.5
4.4
6.0
300.7
299.8
300.4
1.9
0.5
0.1
192.3
192.8
193.1
3.0
3.5
4.9
356.0
359.6
363.8
13.0
12.0
12.0
499.0
499.1
503.5
8.4
7.3
6.0
April
May
June
284.3
287.1
290.6
6.2
6.2
6.6
302.9
303.8
303.8
-0.5
2.9
4.0
194.0
195.2
197.1
4.9
5.4
6.3
368.2
371.1
373.7
9.9
8.2
7.2
513.6
517.3
518.9
6.0
6.0
4.7
July
August
September
292.2
292.8
293.3
6.6
4.7
1.8
301.5
303.8
309.1
4.4
4.1
3.7
197.6
197.3
197.9
6.8
5.9
4.0
374.7
375.9
377.5
5.8
6.9
7.3
518.9
519.0
518.7
5.3
5.3
4.2
October
November
December
294.1
293.6
292.4
1.4
0.7
0.8
310.0
306.6
306.0
4.0
0.7
0.9
198.5
198.9
199.4
2.7
379.5
383.2
386.4
9.5
2.3
r2.3
10.3
10.8
521.3
523.9
522.9
4.0
5.6
4.6
January
February
March
293.1
293.2
293.4
1.4
2.3
3.3
306.6
305.5
307.5
-0.3
1.7
0.5
199.8
200.0
r201.2
rl.4
rl.5
rl.9
390.1
392.9
396.5
12.3
11.2
10.2
523.5
525.8
526.7
2.3
1.7
2.8
April , , .
May
June
295.5
297.1
298.1
3.4
4.3
5.0
308.6
312.0
309.7
0.7
1.7
0.3
r201.7
r202.2
r202.9
r3.4
r4.8
r4.5
401.8
404.5
406.9
9.8
9.7
9.6
534.1
536.4
537.7
4.5
4.3
6.1
July
August
September
299.3
300.3
301.8
4.4
4.2
4.3
308.3
307.4
311.4
3.2
1.9
3.1
r203.6
r204.3
r204.9
r5.0
r4.4
410.4
412.8
416.0
8.6
8.3
8.4
540.6
543.0
545.4
7.7
7.4
7.7
October
November
December
302.6
303.1
303.5
4.8
4.8
4.5
314.2
312.2
311.4
3.0
4.2
4.5
r204.9
r205.2
r205.7
3.4
r2.6
rl.8
419.2
420.9
422.4
8.3
8.2
7.5
547.3
549.2
550.7
6.0
5.0
4.6
January
February . . .
March
305.2
306.6
307.3
4.6
4.3
4.1
312.3
314.2
315.1
1.7
2.3
(NA)
r206.6
r207.1
r207.3
rl.2
425.4
428.0
431.0
6.8
7.0
550.4
552.6
554.4
3.3
2.9
2.9
April
May
June
308.8
309.7
310 7
1983
4.4
1984
315.9
318.2
(NA)
r207.7
207.8
(NA)
1.6
(NA)
433.6
436.2
(NA)
(NA)
561.8
563.9
565.3
July
August
September
October
November
December
See note on page 80.
Graphs of these series are shown on page 59.
x
Changes over 6-month spans are centered on the 4th month.
ICO JULY 1984
95
OTHER IMPORTANT ECONOMIC MEASURES
F
I
INTERNATIONAL COMPARISONS—Continued
1Q j CONSUMEF
Year
and
month
Q |
PRICES-Continued
Italy
Canada
737. Index ® 737c. Change
733. Index © 733c. Change
over 6-month
spansl
over 6-month
spans l
(1967-100)
(Ann. rate,
percent)
(1967 = 100)
19. United
States, index
of stock
prices, 500
common
stocks ©
748. Japan,
index of
stock
prices ®
745. West
Germany,
index of
stock
prices ©
(1967 = 100)
(1967 = 100)
(1967 = 100)
(Ann. rate,
percent)
STOCK PRICES
746. France,
index of
stock
prices ©
(1967 = 100)
742. United
Kingdom,
index of
stock
prices ©
747. Italy,
index of
stock
prices ®
743. Canada,
index of
stock
prices ©
(1967-100)
(1967-100)
(1967-100)
1982
127.6
124.6
120.6
518.9
516.9
486.2
116.8
118.4
120.1
185.7
193.1
145.9
291.1
300.1
298.8
95.0
98.8
104.2
185,3
176.7
173.1
126.5
126.6
119.7
484.5
503.4
489.6
120.6
117.6
114.2
184.8
183.3
166,3
303.2
315.4
314.6
96.7
91.0
83.1
171.2
168.4
153.8
9.4
8.2
7.2
119.0
119.3
133.2
480.8
474.3
481.6
113.5
112.3
115.6
161.1
169.3
168.4
313.2
320.1
343.5
78.4
86.1
85.8
156.8
177.4
177.3
311.2
313.3
313 4
5.7
4.7
5 0
144.3
150.2
151 6
490.4
512.7
528 2
118.2
118.8
124 3
170.7
174.5
169 9
360.7
372.0
365 0
86.4
88.8
91 2
192.6
189.7
199 5
12.9
13.2
13.1
312.5
313.9
317.1
3.8
2.8
3.8
156.9
159.7
165.2
533.3
530.8
544.2
126.0
131.9
143.9
181.8
188.5
204.7
371.9
381.6
388.3
95.5
109.1
118.7
210.0
216.6
219.5
622.2
628.2
632.2
14.0
13.6
13.6
317.1
317.9
321.5
5.5
6.3
4.9
171.6
178.5
181.0
559.7
573.4
583,3
157.0
158.6
159.5
215.6
230.0
224.9
410.4
403.7
426.1
115.8
111.6
110.3
240.0
251.8
260.2
538.5
641.1
649.4
13.6
12.5
12.0
322.9
324.5
324.5
5.8
5.7
5.3
181.6
176.7
181.8
598.7
606.4
619,7
169.0
166.9
164.7
235.6
251.8
257.1
418.9
431.8
422.6
112.9
120.5
118.4
264.3
267.3
272.0
660.4
667.0
670.3
11.1
11.0
11.1
326.5
326.5
327.5
5.4
4.9
4.4
182.4
179.7
178.8
621.0
621.5
638.6
173.4
176.7
179.2
257.3
273.7
283.0
411.2
424.1
432.6
111.6
112.7
112.8
251.1
273.6
268.6
January
February
March
678.3
685.8
690.6
10.7
10.7
11 1
329.2
331.1
331 9
4.3
4.2
181.0
171.1
171 3
687.6
699.6
1
185.3
182.3
178 4
315.2
301.2
261.1
457.2
457.2
485 3
125.3
128.7
128.5
OCA A
April
May
June
695.4
699.6
703.8
171.4
170.3
166 6
776.0
p750.3
rp726.6
177.9
rl78.0
175.8
285.4
rp288.8
rp276 1
r495.0
489.6
468 7
124.9
122.5
rpll9 9
252.0
p245.6
rp242.6
P164.1
p726.5
P169.1
p271.2
p451.3
pl21.3
p234.6
January
February
March
517.7
524.4
529.1
13.8
13.6
13.1
288,7
292.1
295.8
10.5
11.4
11.4
April
May
June
533.9
539.8
545.2
15.9
19.0
18.7
297.5
301.5
304.5
11.1
10.2
9.!i
July
August
September
553.4
563.4
571.3
20.6
19.8
19.1
306.1
307.6
309.2
October
November
December
582.7
590.3
594 4
16.7
13.7
14 4
January . . . . . . . . .
February
March
602.7
610.5
616.0
April
May
June
July
August
September
•
1983
October
November
December
.......
1984
July
August .
September
October
November
December
332.7
333.3
334 7
..
7 oc
259.5
259.5
.
See note on page 80,
Graphs of these series are shown on page 59.
Changes over 6-month spans are centered on the 4th month.
1
96
JULY 1984
APPENDIXES
B. Current Adjustment Factors
Apr.
May
1984
June July
Aug.
Sept.
92.7
84.1
90.0 107.0
86.8
81.9
99.9 103.1
90.9
Series
Jan.
5. Average weekly initial claims, State
unemployment insurance
..
13. New business incorporations
Feb.
.. 144.9 103.3
1
99.7
15. Profits after taxes per dollar of sales,
manufacturing2
Mar.
91.0
96.1 106.7 100.6 106.2 102.1
106.2
95.6
Oct.
Nov.
Dec.
91.4 102.5 124.6
105.8
101.3
92.8 100.8
97.0
33 Net change in mortgage debt1 3
-1775 -1863 -1408
-237
-285
1370
54
72. Commercial and industrial loans
outstanding in current dollars'*
100.5
99.9
99.7
99.7
99.5
99.8
99.6 100.0 100.3 100.4 100.9
113.3
96.3 106.8 100.1
89.8
87.3
88.5
85.7
95.2
92.3
80.1
78.5
77.8 189.9
97.2
99.9 104.5
543. Defense Department gross unpaid
obligations outstanding
103.3 102.7 102.7 103.2
101.3
98.7
97.1
94.0
97.7
99.2
99.5 100.3
570. Employment in defense products industries .
100.3 100.1 100.1
99.8 100.0
99.9
99.4 100.0 100.0 100.2 100.4
517. Defense Department
gross obligations
incurred1
525. Defense Department prime contract awards
580. Defense Department netoutlays
1
... .
90.6
99.7
84.6 108.1
96.4 100.8 106.5
99.9
98.3 104.1 100.9
614. Imports of petroleum and products
616. Imports of automobiles and parts
1
1
....
91.4
1031
120.7 116.5
885
485
95.3 100.3
94.3 100.1
83.1
85.6
92.5 102.2 108.8 107.6
91.0 110.7 100.3 101.6 106.8 102.7
96.1
100.8 105.3
103,6
586
99.4 101.5
604. Exports of domestic agricultural products . 102.6 105.1 114.6 105.0
606. Exports of nonelectrical machinery
1362
91.4
82.7
98.4
94.4
89.8 103.4 100.4 113.1
99.9 108.1 101.8 118.4 104.5
94.7
93.5
101.5 105.3
100.5 101.1
95.9
96.6
97.5 118.7 102.2
97.2
78.3 108.0 100.1
91.6
NOTE: These series are seasonally adjusted by the Bureau of Economic Analysis rather than by the source agency. Seasonally adjusted data prepared by the source agency will be used in BUSINESS CONDITIONS DIGEST whenever they are available. For a description
of the method used to compute these factors, see Bureau of the Census Technical Paper No. 15, THE X-ll VARIANT OF THE CENSUS METHOD
II SEASONAL ADJUSTMENT PROGRAM.
factors are the products of seasonal and trading-day factors.
Quarterly
series; factors are placed in the middle month of the quarter.
3
These quantities, in millions of dollars, are subtracted from the month-to-month net change in the unadjusted monthly totals to
yield the seasonally adjusted net change. These factors are computed by the additive version of the X-ll variant of the Census Method II seasonal adjustment program.
^These factors apply to only the loans portion of this series.
97
C. Historical Data for Selected Series
Year
Jan.
Feb.
Mar.
i
39.7
40.8
40.7
41.0
39.7
40.5
40.6
40.4
38.6
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
IQ
AVERAGE WORKWEEK OF PRODUCTION WORKERS, MANUFACTURING
(HOURS)
39.7
41.0
40.6
41.1
39.5
40.7
40.4
40.2
38.7
1950...
1951...
1952...
1953,, .
1954...
1955...
1956...
1957...
1958...
39.6
40.8
40.7
61.0
39.5
40.3
40.3
40.3
38.8
I960..,
40.5
40.1
39.9
196 2 . . .
1963...
1964...
1965,..
40.0
40.4
40,1
41.2
40.3
40,3
40.6
41. 2
40.5
40.4
40.6
41.4
1967.!!
1968...
1969.,.
1970...
1971...
1972...
1973...
41.0
40.3
40, 7
40.4
39.9
40.2
40.4
40.4
40.9
40.4
40.2
39.7
40.4
40.9
40.4
40.7
40.8
40.1
39.8
40.4
40. 8
1975...
19 7 6 . . .
1977..,
1978...
1979...
1980...
1981...
1982...
1983...
1984...
39.2
40. 5
39.7
39.6
40.5
40.1
40.2
37.4
39.5
38.9
40.3
40.3
39.9
40.5
40.1
39.8
39.5
39.1
38.8
40.2
40.2
40.5
40.6
39.8
39.9
39.1
39.7
40.2
40.9
40.4
40.9
39.5
40.9
40.2
39.8
38.8
40.5
40.7
40.5
40.7
39.6
40.6
40,1
39,9
39.0
40.8
40.5
40.1
40.6
39.6
40.6
40.2
39.9
39.2
39.7
40.0
39.8
39.8
39.7
40.7
40. 2
40.8
41.0
40.5
40.5
40.7
41.2
40.4
40.6
40.7
41.1
40.4
40.5
40.8
41.1
40.3
40.4
40.9
41.0
40.5
40. 0
40. 7
39.9
39.7
40. 7
40.9
40.4
40.9
40.7
39.8
39.9
40.5
40.7
40.4
40. 9
40.7
39.9
40.0
40.6
40.6
40.5
40.8
40,6
40.0
39.9
40.5
40.7
40.6
40.7
40.6
39.8
,3 9 . 8
40.6
40.5
39.2
39.6
40.4
40. 8
39.2
39.8
40.0
39.0
40.1
39.0
40.3
40.4
40,4
40.2
39.4
40.2
39.1
39.9
39.2
40.2
40.5
40.5
40.2
39.2
40.0
39.1
40.1
39.4
40.3
40.3
40.6
40.2
39.1
39.9
39.1
40.2
3 9.7
40.1
40.4
40.5
40.1
;i9.4
:I9.9
39.0
40.3
40.1
41.2
40.1
41.1
39.4
40.6
40.6
40.1
38.6
E WEEKL
41.1
40.2
40.5
40.4
39.7
40.6
40.2
39.8
39.4
N Q
III Q
IV Q
Annual
AVERAGE FOR PERIOD
40.9
40.2
41,1
40.0
39.6
40.9
40.5
39.3
39.5
40.9
40.3
41.0
39.8
40.1
41.0
40.4
39.2
39.8
40.8
40.6
41.1
39.6
40.0
40.8
40.5
39.0
39.8
39. 7
40.9
40.7
41.0
39.6
40.5
40.6
40.3
38. 7
40.3
40.9
40.3
40.9
39.5
40.7
40.3
39.9
38.8
40.9
40.4
40.5
40.3
39.6
40.6
40.3
39.8
39.4
40.9
40.4
41.1
39.8
39.9
40.9
40.5
39.2
39.7
40.5
40.6
4B.7
40.5
39.6
43.7
40.4
39.8
39.2
39.4
39.6
39.2
38.4
40.2
39.8
39.6
39.1
3 9.7
40.5
40.6
40.5
40.8
40.3
40.5
40. 8
41 . 3
40.7
40.9
40.7
39.3
3 9.4
40.6
40.7
40,2
40.6
40.6
41. 2
41 3
40.6
40.9
40.6
39.5
39.9
40.7
40.6
40.6
40.8
40.4
39.5
40.0
40.8
40. 7
40.2
40.6
41.1
41.4
40 9
40.7
40.7
40.5
39.5
40.2
40.5
40.6
40.3
40.4
40.4
41.3
41 5
40.6
40.6
40.6
40. 2
39.8
40.3
40. 7
40.5
40.4
40.7
41.1
41 4
40.4
40.6
40. 7
39.9
39.9
40.6
40. 7
40.4
40.5
40. 7
41.0
41 3
40.6
40.8
40.6
39.7
39, 7
40.6
40.6
40.2
40.6
40,8
41.3
41 1
40.6
40.8
40.5
39.5
40,0
40.7
40.6
40.4
40.5
40.7
41.2
41 4
40.6
4C. 7
4C.6
3 9.8
3S.9
40.5
40.7
3 9.9
3 9.8
40.4
40.6
40,2
39.6
3 9.4
38.8
40.7
39.8
40.0
40.5
40.5
40.2
39.7
39.6
38.9
40.6
39.9
40.1
40.4
40.6
40.1
39.9
39.4
39.0
40.6
40.2
40.0
40.4
40.6
40.2
40.1
39.3
39.1
40.6
39.0
40.3
40.1
40.0
40.5
40.0
40.0
38.7
39.4
39.1
40.0
40.4
40.6
39.9
39.5
40.1
39.1
40.0
39.7
40.1
40.4
40.6
40.2
39.4
39.7
39.0
40.4
40.0
40.0
40. 4
40.6
40,2
39.9
39.4
39.0
40.6
3 9.5
40.1
40.3
40.4
40.2
39.7
3 9.8
3 8.9
40.1
40.8
40.4
41.0
39.8
39.5
40.7
40.4
39.7
39.6
E HOURS 3F PRODUCTION WORKERS, MANUFACTURING
(H )URS)
AVERAGE FOR PERIOD
1950...
1951..
1952., ,
1953. . .
1954.. .
1955...
1957..,
1958...
1960...
1961...
1962.,.
1963...
1964...
196 5 . . .
1966...
1967...
1968...
1969...
1970...
1971...
1972...
1973...
1974...
1975.,.
19 7 6 . . .
1977...
1978...
1979...
1980...
1981...
1983...
1984...
.8
1. 8
1.7
1.7
1.8
.0
M
£.8
2.8
2.1
2.7
2.1
2.4
2.2
2,5
2.3
.5
3.6
3.7
3.4
3.5
3.5
3,4
3.2
3.2
1969...
1970...
1971...
19 7 2 . . .
1973...
1974...
1975...
1976,..
1977...
1978...
1979...
1980...
1981...
1982...
1983.,,
1984,,.
%
.
*
•
2.4
1.9
2.5
2.2
2.1
2.7
2.1
2.2
2.1
2.2
2.1
2.4
2.5
1.8
1.8
2.1
2,4
2.4
2.4
2.3
2.3
2.4
2.1
2.0
2.8
2.1
2.4
2.3
2.9
2.3
2.5
2.7
2.2
2. 7
2.7
3.2
3.2
3.8
3.0
2.9
3.5
3.5
2.7
2.9
3.7
3.8
3.0
3.1
3.]
3.0
3.1
3.7
3.0
3.0
2.9
2.7
1.7
2.6
2.7
3.3
3.1
3.9
3.8
2.4
2.3
2,5
2.6
2.6
2.8
-.8
>. 1
2.9
3.2
3.0
3.2
2.4
3.1
2.4
3.0
2.7
3.2
2.9
3.2
3.5
3.5
3.9
3.5
3.1
2.9
3.0
2.9
2.6
3.0
2.4
2.9
2.5
2.9
2.6
2.9
2.7
2.6
: .8
3.0
3.1
3.1
2.7
2.6
3.0
3.0
3.2
3.3
3.3
3.4
2.5
2.8
3.1
3.3
161.3
97. 7
102.1
105.4
110.9
130.9
103.8
89.9
96.9
117.4
94.9
97.1
110. 7
120 2
116.0
109.0
96.0
95.9
158.2
103.3
110.3
97.6
120.2
123.1
97.0
90. 2
112. 7
111.9
93.3
104. 7
113. 2
122 0
11 7 . 0
112.1
78.0
107. 7
120.4
113.2
164.2
183.5
169.2
99.9
78.3
101.0
146.0
153. 4
132.5
75.0
89.9
74.1
134.1
112. 7
121.1
177.3
196.8
153.2
79.2
88.4
115.9
147.7
140.8
128.2
110. 7
71.9
81.1
133.6
2.5
2.4
2.4
3.4
3.7
3.1
3.0
3.0
2.9
2.4
29-
1950.. .
1951.. .
1952...
1953...
1954...
1955...
1956...
1957...
1958...
1959...
1960...
1961.,,
1962.. .
1 963
1964...
196 5 . . .
1966, . .
1967...
1.
157,4
146.3
99.6
104.9
101.9
136.4
109.a
86.5
91.5
114.7
102.7
91.2
i o:;. 5
113 0
11 V. 4
114. S
120.0
87.2
12 7.9
93,1
144.0
192.9
195.7
114.7
62.6
103.0
124.6
140. 5
118.0
103.4
98.6
64.1
115.6
ISDEX OF NEW PRIVATE
1
HOUSING UNITS AUTHORIZED BY LOCAL BUILDIHG PERMITS*
(1967-100)
159.1
104.5
105.5
111.6
105.8
129+3
109.8
91.7
87,2
125.0
89.8
94.0
106.7
161.9
96. 9
103.5
106.2
106.9
132.9
109.5
86.7
91.9
119.4
95.6
94.2
116.2
161.3
99.3
101.2
106.4
108.8
133.6
101.9
90.5
96.2
117.4
98.9
96.6
107.4
160.7
96.9
101.6
103.5
116.9
126.2
100.1
92.5
102.7
115.5
90.1
100.6
108,5
182.8
92.9
107.9
99.9
119.9
126.7
99.4
86.2
111.9
112.6
93.9
101.9
111.9
158.2
94.8
107. >
98. +
118,. J
122., I
9 7.. )
92.,
111,7
113.7
93.5
109.0
112.8
133.7
122.2
115.5
94.6
121.9
120.4
94. 5
92.4
114.5
109.5
92.6
103.2
114.9
126.2
93.2
116.8
99.6
126.2
117.9
93.1
91.1
118.2
105.3
91.4
105.6
111.1
123.6
90. 9
117.2
100.1
135.9
107.5
93 . 7
88.5
134.1
100. 7
92.1
108.3
116.2
158.6
94.1
108.3
102.4
132.1
107.0
92.8
89.3
115.8
108.2
89.3
109.2
1L6.2
130.6
107.3
104.9
79.5
118.8
109.6
111.8
83.7
114.5
105.2
103.7
90.8
117.6
109.3
97.7
94.3
115.8
112.4
86.6
102.5
118.1
112.0
84.4
103.2
118.3
113.1
7 9 . i\
107. i
114.5
111.1
70.2
112.1
111.5
115.8
66.9
112.2
113.5
118. 3
66.6
113.7
105.3
119.1
C7.2
115.3
158.6
121.9
106.8
109.1
102. 7
138.9
108.8
89.7
85.8
119.8
98.3
91.9
108.2
112 2
122.3
110.5
112.2
83.5
131.0
98.0
139. 2
186. 9
191.8
117.2
62.8
102.6
134.5
140.2
120,5
96.8
96.8
65.3
117.6
126.0
99.2
154.2
181.4
177.7
124.1
61.1
100.3
143.1
145.3
138.9
79.8
95.6
72.0
120.5
126.3
107.3
153.0
184.3
164.5
108.1
74,6
97.6
143.1
157.4
129.0
65.3
96.1
71.7
125. 7
116.5
116.5
172.9
178.1
166.4
98.1
78.8
102.9
143.8
142.6
136.0
69.5
94.7
77.0
134.1
118.3
115.8
166.8
188.1
176.7
93.6
81.5
102.4
151.0
160.2
132.5
90.3
78.8
73.7
142.5
112.0
116.1
181.3
189.2
156.8
86.3
87.9
107.3
145.4
144.3
123.9
101.7
75.5
84.3
141.5
1 1 5 . ^»
122. I
175, 1
195,
155.*
79.( )
85. 7
112. \
153. V
136.6
128.5
110.4
71.8
74.B
135.0
110.7
125.0
175.0
206.2
146.8
72.4
91.7
127.6
144.3
141.4
132.3
119.9
68.4
84.2
124.4
106.6
137.2
177.5
202.9
121.6
71.0
94.4
122.8
151.5
143.9
119.6
110.3
59.0
92.8
133.3
104.4
131,7
182.2
192.6
120.8
67.4
95.6
132.0
152.7
145.0
103.1
111.7
60.4
99.3
133,2
101.3
11*4.8
186.9
208.5
111.0
74.9
94.0
130.2
151.2
146.8
101.3
100.9
64.3
109.1
129.4
128.3
96.8
145.8
187.1
188.4
118.7
62.2
102.0
134.1
142.0
125,8
93.3
97.0
67.1
117.9
98
2.4
2.4
2.8
2.8
3.1
3.6
3.9
3,4
3.6
3.6
3.0
2.9
3.5
3.8
3.3
2.3
3. 1
3. i
3.(i
3.:t
2.1)
2 . SJ
3.0
AVERAGB FOR PERIOD
159.2
114.8
113.3
110. 7
100.4
15L0
106.8
90.9
70.7
US.6
102.3
90.4
112.3
NOTE: Unless otherwise noted, these series contain revisions beginning with 1979.
'This series contains revisions beginning with 1982.
2.3
2.0
136.1
92.7
114.1
100.7
131.4
110.8
93.2
89,6
122.7
104.7
90.9
107. 7
114.5
126 6
110.1
117. 7
66.9
113.7
124 1
104.1
141.2
182.2
201.3
117.8
71.1
94.7
128.3
151.8
145.2
108.0
107.6
61.2
100.4
132. 0
1 53.6
103. §
10H.3
103.2
116,3
125.9
106.7
89.9
104.5
113,5
94.4
100.4
111.6
120 3
116.3
112.3
88,3
100.2
118 2
116.4
118.1
167.4
192.2
157.1
92.2
80.9
11K8
144,9
145,, 4
123.6
96. 7
80.0
80. 7
129.4
(JULY 1984)
C. Historical Data for Selected Series—Continued
Year
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
D e c . IQ
II Q
III Q
IV Q
Annual
40. NUMBER OF EMPLO
AND CONSTRUCTION
(THOUSANDS)
AVERAGE FOR PERIOD
1950...
1951,..
1952...
1953...
1954...
1955...
1956...
1957...
1958...
1959...
1960...
1961..,
1962...
1963...
1964...
1965.. .
1966...
196 7...
1968..,
1969...
1970...
1971...
1972...
1973...
1974...
1975...
1976..,
1977...
1978...
1979...
1980.,.
1981...
1982...
1983..,
1984...
17,389
19,817
20,014
21,073
20,219
19,832
20,997
21,196
20,183
20 ,061
20,789
19,675
20,122
20,463
20,608
21,459
22,615
23,488
23,336
24,119
24,190
22,941
23,226
24 ,391
25,200
23,296
23,057
23,631
24,794
26,257
26,47 5
25,581
24,691
22,959
17,119
19,988
20,146
21,235
20,163
19,984
21,087
21,278
19,730
20,121
20,903
19,559
20,304
20,425
20,830
21,560
22,793
23,389
23 ,542
24,229
24,198
22,841
23,26 9
24,618
25,219
22,777
23,159
23,777
24,857
26,289
26,3 83
25,512
24,667
22 ,827
17,563
20,041
20,066
21,295
20,030
20,191
21,024
21,269
19,504
20,315
20,636
19,621
20,328
20,447
20,832
21,606
22,950
23 ,314
23,542
24,306
24,204
22,828
23,406
24,702
25,139
22,478
23,230
23,990
25,055
26,501
26,291
25,606
24,524
22,832
17,808
20,094
20,099
21,304
19,877
20,367
21,137
21,192
19,266
20,520
20,721
19,628
20,526
20,615
20,875
21,642
23,002
23,282
23,663
24,310
24,027
22,917
23 ,484
24,745
25,094
22,328
23,354
24,178
25,449
26 ,460
25,960
25,565
24,299
22,949
18,198
20,088
20,034
21,296
19,727
20,526
21,135
21 ,124
19,165
20 ,644
20,653
19,745
20,516
20,681
20,915
21,763
23,082
23,211
23,694
24,358
23,744
22,977
23,588
24,804
25,054
22,352
23,315
24,306
25,502
26 ,521
25,601
25,517
24,165
23,087
18,424
20,080
19,642
21,278
19,646
20,641
21,207
21 ,092
19,178
20,765
20,544
19,880
20,473
20,650
20,958
21,849
23,250
23,200
23,717
24,445
23,649
22,918
23,661
24,919
25,003
22,291
23,320
24,438
25,658
26,605
25,316
25,662
23,920
23,241
18,680
20,045
19,511
21,266
19,476
20,626
20,596
21,026
19,219
20,793
20,451
19,878
20,526
20,697
21,020
21,941
23,291
23,236
23,758
24,497
23,598
22,885
23,574
24,931
24,911
22,251
23,365
24,522
25,729
26,619
25,039
25,701
23,716
23,414
19,074
19,919
20,149
21,142
19,418
20,661
21,124
20,942
19,320
20,273
20,375
19,967
20,546
20,717
21,088
22,032
23,363
23,238
23,796
24,486
23,467
22,844
23,694
24,981
24,834
22,445
23,358
24,508
25,781
26,484
25,200
25,636
23,528
23,532
19,219
19,809
20,421
21,068
19,479
20,675
21,137
20,843
19,494
20,242
20,255
19,963
20,548
20,745
21,225
22,134
23,299
23,226
23,831
24,477
23,375
22,982
23,795
24,977
24,726
22,616
23,512
24,622
25,829
26,483
25,264
25,578
23,376
23,669
19,435
19,834
20,582
20,889
19,547
20,789
21,261
20,741
19,426
20 ,127
20,151
20,004
20,552
20,769
20,983
22,206
23,373
23,205
23,872
24,442
22,830
22,933
24,004
25,109
24,587
22,727
23,417
24,662
2 5,97 7
26,475
25,385
25,425
23,101
23,895
19,510
19,853
20,793
20,638
19,705
20,876
21,214
20,539
19,817
20,339
20,012
20,144
20,505
20,707
21,307
22,373
23,419
23,440
23,972
24,300
22,702
23,038
24,121
25,214
24,216
22,762
23,557
24,741
26,119
26,387
25,510
25,231
22,930
24,058
19,533
1 9 , 9 57
20 , 9 3 4
20,471
19,748
20,942
21 ,292
20,418
19,838
20,720
19,752
20,200
20,428
20,723
21 , 4 0 2
22,536
23,467
23 , 4 7 4
24,092
24,353
23,014
23,067
24,188
25,268
23,659
22 , 8 8 7
23,575
24,745
26,231
26,444
25,583
24,995
22,873
24,198
17,357
19,949
20,075
21,201
20,137
20,002
21,036
21 , 2 4 8
19,806
20,166
20,776
19,618
20,251
20 , 4 4 5
20,757
21,542
22,786
23,397
23,473
24,218
24,197
22,870
23,300
24,570
25,186
22,850
23,149
23,799
24,902
26,349
26,383
25,566
24,627
22,873
18,143
20,087
19,925
21,293
19,750
20,511
21,160
21,136
19.203
20,643
20,639
19,751
20 ,505
20,649
20,916
21,751
23,111
23,231
23,691
24,371
23,807
22,937
23,578
24,823
25,050
22,324
23,330
24,307
25,536
26,529
2 5,6 26
25,581
24,128
23,092
1950...
1951...
1952...
1953...
1954...
1955...
1956...
1957...
1958...
1959.,.
196 0 . . .
1961...
1962...
1963...
1964...
196 5 . . .
1966...
1967...
1968...
1969...
1970...
1971...
1972...
1973...
1974...
1975...
1976...
1977...
1978...
1979...
1980...
1981...
1982...
1983...
1984...
43,472
47,227
48 , 2 2 9
50,043
49,340
49,363
51,880
52,808
52,002
52 , 4 1 0
54,184
53,524
54,703
55,927
57,281
59,419
62,415
65,240
66,656
69,297
71,059
70,752
72,357
75,521
78,020
77,153
78,317
80,527
84,478
88,711
90,790
90,915
90,402
88,827
43,17 5
47,519
48,491
50,271
49,270
49,523
52,096
53,000
51,448
52,558
54,406
53,373
54,996
56,039
57,621
59,710
62,766
65,224
67,026
69,575
71,201
70,689
72,542
75,923
78,181
76,743
78,614
80,783
84,800
88,955
90,893
90,981
90,409
88,728
43,616
47 , 7 0 0
48,450
50,360
49,081
49,867
52,141
53,052
51,131
52,863
54,348
53,462
55,109
56,157
57,686
59,921
63,129
65,305
67,156
69,803
71,363
70,766
72,850
76,168
78,184
76,429
78,828
81,228
85,339
89,406
90,989
91 , 1 0 0
90,301
88,945
44,238
47,849
48,476
50,367
48,984
50,106
52,302
53,029
5 0 , 7 87
53,190
54,561
53,485
55,384
56,398
57,846
60,080
63,318
65,373
67,422
69,980
71,283
70,969
73,079
76,308
78,239
76,333
79,142
81,615
86,064
89,356
90,766
91,209
90,059
89,259
44,589
47,803
48,478
50,343
48,857
50,414
52,387
52,999
50,760
53,382
54,366
53,664
55,514
56 , 5 3 4
57 , 9 7 4
60,389
63,595
65,478
67,519
70,197
70,998
71 , 1 2 9
73,346
76,473
78,381
76,470
79,188
81,984
86,396
89,671
90,272
91 , 1 6 5
90,006
89,578
44,953
47,915
48,130
50,386
48,810
50,705
52,454
52,961
50,822
53,603
54,292
53,922
55,563
56,571
58,128
60,590
63,989
65,642
67,779
70,478
70,888
71,136
73,639
76,743
7 8,443
76,400
79,264
82,392
86,833
89,985
89,938
91 , 3 3 6
89,755
89,927
45,361
47,923
47,992
50,385
48,689
50,823
51,764
52,970
50,915
53,683
54,230
54,052
55,663
56,705
58,309
60,868
64,166
65,816
67,979
70,629
70,927
71,169
73,576
76,713
78,492
76,640
79,469
82,743
87,060
90,088
89,671
91,460
89,412
90,274
46,035
47,806
48,687
50,272
48,644
50,905
52,396
52,918
51,118
53,230
54,198
54,232
55,796
56,832
58,510
61,072
64,306
65,933
68,189
70,742
70,750
71,168
73,908
77,009
78,511
77,034
79,591
82,954
87,319
90,148
89,908
91.380
89,208
89,918
46,304
47,743
49,076
50,216
48,752
51,085
52,446
52,825
51,359
53,265
54,069
54,303
55,860
56 , 9 7 1
58,777
61,333
64,367
66,074
68,333
70,800
70,815
71,499
74,107
77,170
78,542
77,216
79,857
83,460
87,470
90,166
90,042
91,345
89,103
91 , 0 1 8
46,530
47,833
49,436
50,114
48,828
51,308
52,667
52,673
51,379
53,203
53,982
54,375
55,919
57,148
58,658
61,538
64,614
66,091
6 8,56 9
70,957
70,383
71,485
74,537
77,506
78,599
77 , 4 7 9
79,847
83,659
87,788
90 , 3 5 6
90,336
91,243
88,820
91,345
46,654
48,026
49,710
49,824
49,102
51,491
52,722
52,458
51,831
53,503
53,843
54,636
55,943
57,125
59,080
61,859
64,839
66,570
68,837
70,921
70,264
71,723
74,904
77,867
78,234
77,582
80,122
84,012
88,233
90,449
90,588
91,013
88,674
91,688
46 , 7 5 6
48,119
49,933
49,627
49,242
51 , 7 2 1
52,865
52,281
51,968
54,033
53,571
54,739
55,915
57 , 2 5 1
59,320
62,209
65,042
66,767
69,151
71,119
70,661
71,977
75,164
77,933
77,531
77,878
80,310
84,260
88,534
90,595
90,803
90 , 7 4 2
88,646
92,026
43,488
47 , 4 8 2
48,390
50,225
49,230
49,584
52,039
52,953
51,527
52,610
54,313
53,453
54,936
56,041
57,529
59,683
62,770
65,256
66,946
69,558
71,208
70,736
72,583
75,871
78,128
76,775
78,586
80,846
84,872
69-, 0 2 4
90,891
90,999
90,371
88,833
44,593
47,856
48,361
50,365
48,884
50,408
52,381
52,996
50,790
53,392
54,406
53,690
55,487
56,501
57,983
60,353
63,634
65,498
67 t 573
70,218
71,056
71,078
73,355
76,508
7 8,3 54
76,401
79,198
81,997
86,431
89,671
90,325
91,237
89,940
89,588
18,991
19,924
20,027
21,159
19,458
20,654
20,952
20,937
19,344
2 0 , 36
2 0 , 60
36
20,5
20,7 20
21,111
22,036
23,318
23,233
23,795
24,487
23,480
22,904
23,688
24,963
24,824
22,437
23,412
24,551
25,780
26,529
25,168
25,638
23,540
23,538
19,493
19,881
20,770
20,666
19,667
20,869
21,256
20,566
19,694
20,395
19,972
20,116
20,495
20,733
21,231
22,372
23,420
23,373
23,979
24,365
22,849
23,013
24,104
25,197
24,154
22,792
23,516
24,716
26,109
26,435
25,493
25,217
22,968
24,050
18,506
19,959
20,198
21,074
19,751
20,513
21,104
20,964
19,513
20,411
20,434
19,857
20,451
20,640
21,005
21,926
23,158
23,308
23,737
24,361
23,578
22,935
23,668
24,893
24,794
22,600
23,352
24,346
25,585
26,461
25,658
25,497
23,813
23,394
AVERAGE FOR PERIOD
570. EMPLOYMENT IN DEFENSE PRODUCTS INDUSTRIES 1
(THOUSANDS)
1950.
1951.
1952.
1953.
1954.
1955.
1956.
1957.
1958.
1959.
1960.
1961.
1962.
1963.
1964.
1966.
1967.
1968.
1969.
1970.
1971.
1972.
1973.
1974.
1975.
1976.
1977.
1978.
1979.
1980.
1981.
1982.
1983.
1984.
,218
,249
,250
,235
,303
,369
, 3 07
,211
,254
,246
,240
,316
,366
,294
1,210
1,255
1,244
1,244
1 , 3 26
1,354
1 ,285
,212
,259
,240
,248
,330
,350
,278
210
267
233
255
340
347
266
,357
,588
,719
,691
,546
,26 2
,109
,154
,179
,185
,096
,06 9
, 120
,242
,346
,391
1,386
1,344
,382
,614
,723
,672
,521
,238
,115
,155
,179
,153
,092
,074
,125
,26 2
.352
,388
,380
1,346
1,406
1,630
1,719
1,688
1 ,503
1,213
1,117
1,157
1,182
1,156
1,093
1 ,069
1 ,138
1,278
1,358
1,390
1,377
1,342
,430
,645
,713
,686
,472
,190
,123
,160
,185
,138
,087
,085
,143
,282
,360
,393
,375
,345
457
650
713
682
441
179
125
165
187
152
084
088
162
287
364
393
370
1 ,224
,280
,213
,259
,361
,337
,246
,267
,502
,668
,659
,400
,150
,124
,171
,193
,129
,059
,109
,184
,305
,367
,394
,368
,361
1,229
1,277
1,228
1,255
1,369
1,332
1,23 5
1,27 6
1,525
1,675
1,725
1,643
1,373
1,147
1,127
1,175
1,152
1,123
1,069
1,103
1,193
1,306
1,373
1,397
1,358
1,344
NOTE: Unless otherwise noted, these series contain revisions beginning with 1979.
'This series contains revisions beginning with 1982,
45,900
47,824
48,585
50,291
48,695
50,938
52,202
52,904
51,131
53,393
54,166
54,196
55,773
56,836
58,532
61,091
64,280
65,941
68,167
70,724
70,831
71,27 9
73,864
76,964
78,515
76,963
79,639
83,052
87,283
90,134
89,874
91,395
89,241
90,403
46,647
47,993
49,693
49,855
49,057
51,507
52,751
52,471
5 1 , 7 26
53,580
53,799
54,583
55,926
57,175
59,019
61,869
64,832
66,476
68,852
70,999
70,436
71,728
74,866
77,769
78,121
77,646
80,093
83,977
88,185
90,467
90,576
90,999
88,713
91,666
45,197
47,819
48,793
50,202
48,990
50,641
52,369
52,853
51,324
53,268
54,189
53,999
55,549
56,653
58,263
60,765
63,901
65,803
67,897
70,364
70,880
71,214
73,675
76,790
7 8,26 5
76,945
79,382
82,471
86,697
89,823
90,406
91,156
89,566
90,138
AVERAGE FOR PERIOD
1,233
1,274
1,224
1,262
1,369
1,328
1,236
1,289
1,537
1,686
1,708
1,627
1,353
1,141
1,136
1,171
1,188
1,114
1,06 9
1,103
1,195
1,317
1,377
1,397
1,360
1,364
1,239
1,266
1,218
1,274
i,37O
1,328
1 ,232
1,300
1,554
1,699
1,691
1,613
1,321
1,132
1 ,134
1,172
1 ,197
1,103
1,065
1,066
1 ,207
1,328
1,382
1,392
1,356
1,369
1,246
1,259
1,230
1,283
1,371
1,317
1,231
1,315
1,573
1,709
1,701
1,580
1,299
1,123
1 ,144
1,176
1,193
1,089
1,063
1,068
1,219
1,340
1,386
1,385
1,354
1,369
1 ,249
1,256
1,232
1,292
1,371
1,318
1,228
1,331
1,57 9
1,718
1,703
1,565
1,281
1,114
1,152
1,176
1,180
1.089
1,068
1,093
1,236
1,346
1,388
1,390
1,350
1,378
,253
,247
,240
,315
,363
,295
,227
,382
,611
,720
,6 84
,523
,238
,114
,155
,180
,165
,094
,071
,128
,261
,352
,390
,381
1,344
1 ,266
1,225
1,253
1 , 3 40
1,347
1,267
1 ,246
1,455
1,652
1,715
1,675
1,445
1,179
1,124
1,165
1,187
1,143
1,081
1,090
1,159
1,288
1,363
1 ,394
1,371
1,349
1,277
1,222
1,259
1,366
1,332
1,239
1,277
1,521
1,676
1,717
1,643
1,375
1,146
1,129
1,172
1,178
1,122
1,066
1,105
1,191
1,309
1,372
1,396
1,362
1,356
1,245
1,26 0
1,227
1,283
1,371
1,321
1,230
1,315
1,56 9
1,709
1,698
1,586
1,300
1,123
1,143
1,175
1,190
1,094
1,065
1,076
1,221
1,338
1,385
1,389
1,353
1,372
1,225
1,26 4
1,230
1,259
1,348
1,341
1,258
1,266
1,482
1,662
1,712
1,647
1,411
1,171
1,128
1,167
1,184
1,131
1,07 6
1,085
1,175
1,299
1,366
1,392
1,367
1.35S
(OULY 1984)
99
C. Historical Data for Selected Series—Continued
Year
Jan.
Feb.
Mar.
914.
1950...
1951...
1952...
1953...
1954...
1955...
1956...
1957...
1958...
1959...
1960...
1961...
1962...
1963...
1964...
1965...
1966...
1967...
1968...
1969...
1970...
1971...
1972...
1973...
1974...
1975...
19 7 6 . . .
1977...
1978...
1979...
1980...
1981...
1982...
1983...
1984...
94.6
97.9
94.4
96.6
92.9
98.5
98.1
95.2
92.5
97.6
97.5
93.6
96.1
97.1
99.3
100.5
102.2
97.5
102.8
107,9
1L05.1
1105.0
1110.3
1112.7
£07.1
90.4
106.7
HO. 5
95.6
96.5
95.7
96.8
92.6
99.9
98.1
95.3
91.3
98.2
97.2
94.0
97,2
97.3
99.9
1100.2
101.8
97.2
104.0
108.5
105.1
104.9
110.3
113.0
107.6
97.9
106.5
111.2
t 1 4
£
in 1 3 * Q
1 1 A
1 1 *f • 0
114.1
113.3
110,7
104.2
106.3
114.6
111.8
109,3
104.2
107.0
| 1 e
1 1 J,
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
IQ
97.6
96.2
94.8
95.6
93.2
99.2
97,9
94.6
93.4
98.9
96.5
94.7
96.5
98.5
100.4
100.1
100.3
99.0
102.5
107.5
104.1
107.6
111.2
111.8
107.1
101,4
106.0
112.5
97.9
94.2
95.6
93.9
93.9
99.3
97.4
94.8
94.4
98.4
95.7
95.4
96.3
98.2
99.8
100.5
99.3
100,3
103.0
107,2
103,4
108. 7
110.8
112.1
106.5
103.3
107.6
113.5
99.5
93.7
95.7
94.7
94.6
99.1
97.0
94.1
94.9
98.3
96.0
95.7
96.6
98.0
99.6
100.7
99.3
100.4
104.8
106.7
103,3
108.4
111.8
111.3
107.0
104.6
108.3
112.4
99.2
93.7
96.0
93.8
94.7
99.0
96.4
94.4
96.2
97.8
95.5
95.9
96.8
98.4
99.8
1D0.4
)8.2
11)1.5
105.4
106.7
103.2
108.6
1 ]. 1 . 7
111. 0
105.2
104.6
107.5
114.2
97.0
94.9
98.1
93.4
95.5
99.2
96.0
93.6
96.8
97.9
95.3
95.2
97.1
99.0
100.3
100.6
97.5
101.5
105.9
106.7
103.7
108.6
113.4
109.8
103.3
104.2
109.3
113.7
96.1
93.8
96.5
94.2
96.7
98.5
96.2
93.5
96.8
97.3
95.0
95.8
96.9
99.2
100.3
100.8
97.0
101. 5
107.9
106.4
103.8
108.6
113.4
108.8
101.1
104.2
109.6
114.2
96.1
94.0
96.1
93.1
97.2
98.4
96.3
93.0
97.8
97.2
94.1
96.7
97.3
99.0
100.2
101.2
96.0
102. 3
106.3
105.6
104.6
109.5
113.0
109.4
99.7
104,5
110.7
114.3
97.9
94.3
96.6
93.1
97.2
98.3
95.8
92.4
96.8
97.9
94.1
96.3
97.4
99,6
100.2
101.7
96.2
102.6
107.3
105.8
105.9
110.2
113.6
107.4
100.8
105,1
110.4
114.8
115.0
107.1
110.5
104.9
107.7
115.1
106.9
109.3
104.2
109.3
114.5
108. 7
107.3
102.9
110.3
114.4
110.2
107.1
103.9
114.2
110.6
107.0
102.9
115.3
111.8
106.3
103.4
113. 7
111.1
104.3
104. 7
113.2
111.2
105.4
105.4
115.0
113.4
111.4
105.1
107.0
92.9
103.0
93.5
96.3
89.9
97,1
97.5
94.8
91.9
98.1
96.4
93.3
98.8
97.7
99.3
102.1
103.1
100,5
101.9
103.9
100.5
99.5
101.8
107.6
1(19.4
(•2.9
Mil.2
102.5
104.8
107.9
100.8
100.5
96.7
97.7
93.9
102.9
92.5
96.6
90.7
97.6
97.1
94.4
91.5
99.5
95.1
93.6
99.1
98.4
<J9.0
102.4
104.7
100.6
102.0
103,8
100,1
1<SO,6
102.4
109.0
108.8
92.2
102.0
104.0
106.5
108.2
100.5
100.5
96.5
99.2
102.1
95.1
95.7
94.4
92.5
99.8
96.6
94.1
94.9
98.1
94.3
96.9
96.3
97.7
100.5
101.3
103.3
99.5
100.8
102.7
99.5
99.3
103.5
109.1
103.5
96.7
104.4
103.1
105.8
104.6
96.9
102.6
97.8
105.0
93.4
95.3
92.7
92.8
100.0
96.6
93.8
96.1
97.6
9 4- 7
97.4
9lS.8
97.9
100.8
10K3
10:1.0
100.6
9!). 8
102.7
104.4
93.2
95.5
90.7
93.9
99.7
96.4
93.6
97.4
98.2
94.9
97.7
97.4
98.2
102.4
100.9
102.0
100.6
100.7
103.0
99.1
100.2
104.6
109.0
100.2
100.1
103.3
104.7
106.4
102.4
101.0
101.2
98.3
103.9
94.4
95.0
89.6
95.0
99.3
96.3
93.2
97,6
98.0
94,5
97.8
97.7
98.4
102.0
100. 7
101.6
100.7
102.1
103.1
97.9
100.9
105. 8
109.3
98.4
101.0
101.8
105.0
107.1
101.5
102.2
99.8
98.0
101.7
93.8
94.9
89.3
95.9
98.9
96.1
91.9
98.2
97.2
94.2
97.8
97.7
98.5
102.2
101.5
101.2
100.9
103.6
102.3
97.6
101.0
106.2
109. 7
96.5
100.4
101.9
104.1
107.5
100.9
102.1
98.7
97.0
100.5
93.7
95.2
89.6
96.6
98.2
95.4
91.1
97.6
97.3
93.9
98.2
97.3
98.5
102.1
102.5
101.0
101.6
103.3
101.9
98.4
101.1
106.9
109.4
94.1
99.4
L02.2
104. 5
107.8
100.7
101.7
97.6
96.4
73.2
74.6
72.0
68. 7
74.4
83.3
79.6
78.3
79.0
83.6
80.7
86.1
87.3
92.7
96.5
101.8
98.0
101.0
73.7
74.5
72. 2
67.9
75.3
73.7
74.1
73.0
67.0
76.4
72.3
74.0
73.3
67.8
77.9
79.3
77.0
80.5
83.6
79.9
86.6
87.4
92.6
96.5
102.5
98.2
101.2
79.0
76.2
81.8
83.7
79.9
87.6
88.9
92.4
96.3
102.9
99.3
100.9
79.4
75.3
82.7
84.3
60.0
88.4
89.3
93.4
97,4
102.8
98.8
100.9
98.6
94.1
96.6
94,0
94,9
99.1
96.5
94.0
96.0
98.0
95.6
95.6
96.8
98.5
99.9
100.6
98.3
101.1
105.4
106.7
103.4
108.5
112.3
110.7
105.2
104.5
108.4
113.4
115.3
114.6
110.9
106.8
103.4
Annial
PERIOD
96.7
94.0
96.4
93.5
97,0
98.4
96.1
93.0
97.1
97.5
94.4
96.3
97.2
99.3
100.2
101.2
96.4
102.1
107.2
105.9
104.8
109.4
113.3
106.5
100.5
104.6
110.2
114.4
116.1
113.4
111.2
104.9
105.7
9 M
94.9
9>. 8
9-..8
9't.4
9t».O
9.M
9/u2
9^.6
9f.2
9!.8
9S.2
96.8
95.5
96.«
95.:
96.1
92..
99.:
98.C
95.3
9 1 . <)
98..
96.8
93.9
96.7
97,3
99.5
100.4
102.1
97.5
104.1
1 0 8 . ()
104. »
105./ »
110. >
112. »
107.(
9 8 , ()
106.(
111,2
114.5
115.2
111.5
109.9
104.1
106.8
97.6
95.0
95.0
95.2
93.3
99.3
97.9
94.6
93.3
98.7
96.3
94.9
96.7
98,1
99.8
100.1
100.2
99.1
102.9
107.7
103.9
107.6
111.1
111.8
107.1
101.6
106.7
112.6
115.6
114.9
107.6
109.0
104.0
109.1
93.7
102.6
92.9
96.6
90.5
97.9
97.2
94.2
91.6
99.2
95.1
93.9
98.8
98.3
99.3
102.1
104.5
100.1
101.7
103.8
99.9
100.4
102.4
109.0
108.6
92.4
102.1
103.7
106.1
106.2
100.6
100.6
96.6
99.4
96.4
98.1
93.5
95.6
92.0
96.9
96.2
93.7
92.3
99.5
93.5
96.9
96.1
99.1
100.2
101.7
104.3
98.6
100.8
103.4
100.5
100.8
103.0
110.3
105.5
94.7
104.3
104.2
107.2
107.2
97.4
102.3
97.0
102.2
103.8
93.9
95.5
92.6
93,1
99,8
96.5
93.8
96,1
98.0
94.6
97.3
96.8
97.9
101.2
101.2
102.8
100.2
100.4
102.8
99.2
99.7
104.0
109.0
102.1
96.3
103.9
103.8
106.2
103.6
98.9
102.0
98.1
102.0
94.0
95.0
89.5
95.8
98.6
95.9
92.1
97,8
97.5
94.2
97.9
97.6
96.5
102.1
101.6
101.3
101.1
103.0
102.4
98.0
101.0
106.3
109.5
96.3
100.3
102.0
104.5
107.5
101.0
102.0
98.8
97.1
99,0
97,2
94,2
93,«
92,
98, f
96,
93. .
94,
98.
94./
96.
97.!
98..
100.
101. i
103.4
100. (
101,
103.
»9.z
100.
103.
109.^
103.3
96./
103.1
104. (
106.
105. C
99.
100.
97.
68.6
70. J
73. V
72. i
69. \
70.6
71. 7
72. I
71. 2
71. I
72.5
74.1
71.9
69.8
73.5
73.2
74.2
72.8
67.6
76.5
71, \
72,. 1
72. (i
70. It
72. f
60. i
79. J
80. I
79. 5
4
86. 4
81. 9
84. I
86. 7
91. 7
96. 3
100. 7
100. 5
9 9 . ••>
80.1
79.2
77.9
84.3
81. 1
8 5 . <»
86. 7
92. *
96.
101.
98. 5
79.2
76.2
81.7
83.9
60.
78. !i
7 7.J
84.(
81. y
64.6
n.i
98.9
1100.6
99.3
100.0
104.9
10 7,1
104.2
10 7.7
111.8
111.0
105.1
102.2
108.0
112.9
115.4
114.5
110.3
107.7
104.3
COMPOSITE IND
AVERAGE
(196 7-100)
1950..
1951..
1952..
1953..
1954..
1955..
1956..
1957..
1958..
1959..
I960..
1961..
1962..
1963..
1964..
1965..
1966..
1967..
1968..
1969..
1970,.
1971..
1972..
1973,.
1974..
1975..
1976..
1977..
1978..
1979..
1980..
1981..
1982..
1983..
1984..
IV Q
Ill Q
II Q
AVERAGE FOR
97,2
94.6
94.7
96.1
92.8
99.3
98.3
94.4
92.2
98.8
96.7
94.6
97.3
97.5
99.3
99.8
101.1
98.1
103.2
108.5
104,1
106.4
111.2
111.5
107.6
100.2
106.5
111.7
A
U
116,9
109.5
109,8
104.0
107.2
915.
May
COMPOSITE X HDEX OF CAPITAL I NVESTMENT COMMITMENTS
(1967-100)
96.3
95.5
95.5
96.2
92.1
99.6
97.9
95.4
91.8
99.8
95.8
94.2
96.7
97.6
99.3
100.4
102.2
97.9
105.4
107.5
104.1
106.4
110.8
112.6
108.0
97.8
106.6
111.9
ft
Apr.
94.2
102.6
92.7
97.0
91.0
98.9
97.0
93.5
91.4
99.9
93.9
94.7
98.6
98.9
99.5
101.8
105.6
99.2
101.3
103.7
99.1
101.2
103.0
110.4
107.7
92.0
103.1
104.6
107.0
108.4
100.6
100,7
96.6
101,3
94.9
100.0
93.0
96.4
91.1
99.
97.)
93./
91.
100.
93.4
96,,
96.
99.(
100.
102.(
105.
98.
100.
103.
99..
101.
102.
110.(
106.(
93. <
104.
104.<
107.
107.1
99.
101.i
96.4
101.9
96.8
97.8
92.5
95.4
92.0
98.8
95.9
93.8
92,2
99.5
93.4
97.1
96.1
99.3
100.5
101.8
104.2
98.3
100.9
103.4
101.0
101.0
102.9
110.5
105.6
94.9
104.3
104.2
107.2
107.5
97.2
102.5
97.1
102.3
97.5
96.5
94.
95.<
92.<
98.
95.
93.
93..
98.
93. (
9 7./
95.<
98.
99.
101.*
103.
98. (
100.
103.
101.
99.
103..
109.
104./
95.
104.
103.
107.,
106..
95.
102, (
97.(
102.5
9<>.O
9!>,5
104.0
1011.9
10:!.6
9H.0
104.1
103.6
106.4
103.7
98. 7
102.1
98.1
FOR
PERIOD
ILITY
( 1967-100)
1950..
1951..
1952..
1953..
1954..
1955..
1956..
1957..
1958..
1959..
I960..
1961..
196 2 . .
1963..
1964..
196 5 . .
1966..
1967..
1 968.
196 9*.!
1970..
1971..
1972!!
1973..
1974..
1975..
19 7 6 . ,
1977..
1978..
1979..
1980..
1981..
1982..
1983..
1984..
68. >
79.
81.
79. S
74. 7
83.8
84.4
80.5
83.5
89.6
94.6
99.1
io:i.o
9H.8
1 ftfh 1
I U(r« J
68.6
70.3
73.3
72.8
69.5
80.4
69.1
70.7
72.9
72.5
70.0
80.6
69.8
71.3
72.4
71.6
70.8
81.3
70.5
71.6
72.0
71.3
71.5
81.5
71.5
72.2
72.0
70.6
72.0
82.2
71.4
73.2
72.0
70.5
72.8
83.0
79,2
7:1.9
e-r,2
84.1
80.8
89.3
9<i.6
9^.5
100.4
102.9
96.8
oc t\
?y»U
79.1
74.4
85.3
83.0
82.1
88.9
90.0
95.7
100.5
101.7
99.1
00 A
77* 0
79.2
74.7
86.2
82.4
83.4
88.1
91,2
95.9
100.7
101.6
99.4
79.5
75.4
87.1
61.4
84.5
86.7
91.9
96.0
101.0
100.2
99.7
79.7
76.1
85.9
81.8
84.7
65.4
92.1
96.0
100.4
99.8
99.6
80.0
76.9
85.3
81.4
85.0
86.1
92.0
96.7
100.6
99.4
100.1
72.8
74.4
71.8
70.3
73.4
82.9
80.2
79.3
77.8
84.1
81., 3
85,8
86., 8
92,, 5
96 ,.6
101.0
98. 1
100.5
91).5
9 9 . 0
97^9
89.1
93 8
97*0
97.3
86.7
88.8
97.1
98.8
97.9
97.2
92.5
98. 7
93.1
102.5
97.8
88.0
96.5
87.7
95.4
87.4
94.9
87.6
94.0
87.9
93.2
87.7
92.4
87.2
90.6
89.4
?
88.8
9?!
88.
96^9
96.0
87.7
91.0
96.5
99.6
99.6
96.4
92.7
98.1
93.0
104.6
97!l
95.2
86.3
92. 7
96.4
100.4
99.6
96.3
93.5
98.4
92.4
105.7
97^2
94.9
83.7
94.0
96.6
101.2
99.5
96.1
94.1
98.2
92.6
97.8
94.2
81.0
94.1
96.2
101.5
100.5
96.4
94.5
98.5
92.4
98.0
94.6
80.1
94.1
96.3
100.3
100.6
95.7
95.0
96.9
93.9
9B.5
95.4
80.7
94.9
95.6
98.9
100,1
94.4
95.5
96.9
95.0
99.6
94.5
81.6
95.2
95.2
98.0
99.2
93.4
96.2
97.1
95.5
100.0
92.3
81.5
95.4
96.4
97.4
98.6
04.0
»7.1
1)6,2
<J6.4
96.4
99.5
90.4
85.3
97.5
97.4
96.0
97.7
94.3
98.7
93.4
98.9
97. )
96. 2
87. i
90. S
96. 7
99. J
99. )
96. >
92. 9
98. *
92.8
104.3
68.
7 1 . <>
74. )
73.
81).5
Q] '1
yj>.A
96.1
100.2
91.4
83.2
97.0
9V.0
96.2
96.4
94.5
98.2
94.5
97.6
Stt.O
03
ft
?Jt u
96.4
99.7
B9.9
85.3
97,V
97.2
95.4
97.4
95.1
98.8
93.2
98.6
9 8 . 1
8 8 . 9
03 %
y j , J
96.8
98.5
89.9
87.3
97,5
98.1
96.3
97.3
93.2
99.0
92,6
100.5
NOTE: These series contain no revisions but are reprinted for the convenience of the user.
100
74.
84.
83.
81.
68.
89.
95.
75.
\
i
»
7
>
100. )
102. S
98. J
98!
4
)
}
79. «
87..
88..
92.
96.
102.
98. (
101.{
91. T
9(i, 1
101.1
100.1
100.0
1
94! i
87.(
100 * 1
92.
68.1
9S! 8
88.2
97. 7
94. <>
81. >
94.
9 6 . /I
101.(
100. I
96.
94. >
97. )
99. i
94.]
81.95.,
95.
98.]
99.3
93.
96.3
96.7
95.6
9?!6
96.1
85.2
91,3
96.6
99.0
98.6
96.1
94,5
97.9
93.7
1 0 0 .
93.(
.
(JULY 198')}
C. Historical Data for Selected Series—Continued
Jan.
Year
Feb.
Apr.
Mar.
May
June
July
Aug.
917. C
Sept
Dec.
Nov.
Oct.
AVERAGE FOR PERIOD
(1967-100)
1950...
1951...
1952...
1953...
1954...
1955...
1956...
1957...
1958...
1959...
1960...
1961...
1962...
1963...
1964...
196 5 . . .
1966...
1967...
1968...
1969...
1970...
1971...
1972...
1973...
1974...
1975...
1976...
1977...
1978...
1979...
1980...
1981...
1982...
1983...
1984...
63. 9
62. 4
63. 8
65. 5
63. 4
68. 5
69. 4
68. 1
65. 7
72. 4
70. 9
73.
79. 6
84. 8
87. 9
92. 8
97.5
95. 9
102. 7
105. 9
100. 8
104. 6
113. 8
126. 2
118. 6
110. 4
128.
132.
131.
121 .
122.
7
7
5
9
9
2
123. j
127.2
64.0
61.4
63.8
65.4
64.0
68.7
69.1
68.1
66.3
72.3
71.6
63.9
60.7
64.0
66.3
64.0
68.9
69.6
68.8
66.8
72.3
71.8
64.8
60.7
63,1
66.5
63.9
68.7
68.8
68.7
67.2
72.0
71.9
65,2
60.8
63.5
66.7
64.1
69.7
68.0
68.2
67.3
72.7
71.7
65.9
61.0
64.0
65.5
64.4
70.4
67.6
67.8
68.2
73.6
72.0
80.0
85.3
88.4
93.3
97.1
97.0
102.8
105.0
99.6
106.6
115.8
126.6
119.1
110.8
80.8
85.4
88.1
93.9
97.0
98.5
102.9
104.0
98.8
108.3
117.7
124.8
119.4
111.8
81.7
85.8
88.5
94.0
96.8
98.7
103.2
104.0
98.8
109.1
118.3
123.7
120.8
113.1
81.8
66.0
89.1
94.2
96.5
99.1
102.8
103.1
100.0
110.1
117.5
123.3
118.6
114.1
81.9
85.9
89.6
94.0
96.1
99.6
103.0
102.0
100. 7
109.4
117.6
123.4
116.9
115.8
L29.2
L31.9
L29.9
22.5
22.1
L22.1
L29.1
129.7
132.9
129.5
122.4
122.2
122.2
129.8
130,1
132.8
131.4
120.2
123.5
123.0
129.7
131.0
133.6
131.6
118.6
123.2
122.4
129.0
131.2
133.1
132.1
119.2
123.1
122.2
131.5
940.
1950...
1951...
1952...
1953...
1954...
1955...
1956...
1957...
1958...
1959...
1960...
121,
134.
115.
119.
103.
117.
113.
103.
89.
104.
96.
1961...
1962...
1963...
1964...
196 5 . . .
1966...
1967...
1968...
1969...
1970...
1971...
1972...
19 7 3 . . .
1974...
1975...
1976...
9
6
3
7
6
7
8
9
6
5
0
97* 6
95. 6
96. 0
98 2
101. 3
100. 1
103. 0
104.0
96 5
99 5
109 2
118
112 3
96 0
116 4
123, 6
123, 1
125 3
119 4
120, 6
109 8
116 1
1977. , .
1978...
1979...
1980...
1981...
1982...
1983...
1984...
961.
RATIO,
66.6
61,4
63.8
65.6
65.3
70.9
67.3
67.6
68.6
74.1
72.5
76.9
81.5
86.2
90.6
94.8
95.1
100.2
103.7
100.6
100. 7
109.9
118.1
123.5
117.1
117.5
65.2
62.2
63.9
65.5
64.3
70.8
67.3
67.4
69.0
74.4
73.4
77.2
81.6
86.6
91.0
96.0
94.2
101.3
104.5
100.0
102.0
111.7
120.2
122.5
115.4
117.8
130.9
131.7
131.6
120.2
123.3
132.2
131.1
130.3
122.7
123.8
1
6
5
9
9
8
6
8
5
2
9
62. 6
6^2. 8
65. 6
63. 5
67. 7
69. 8
68. 1
66. 1
71. 3
71. 3
73. 8
102.
105.
100.
103.
112.
121.
120.
114.
117.
5
7
5
3
0
4
2
0
2
2
8
4
5
63,
62.
65.
63.
66.
69.
67.
66.
70.
72.
73.
77.
82.
88.
91.
96.
94.
102.
105.
100.
102.
111.
123.
120.
112.
117.
3
2
8
4
5
4
8
6
6
1
1
3
4
5
82". 9
88. 6
92.3
96.8
95. 0
102. 5
106. 1
101. 0
102. 8
112. 1
123. 6
119. 3
112. 1
118. 2
83.
88.
92.
97.
95.
102.
106.
101.
103.
112.
124.
118.
110.
119.
9
2
7
0
7
8
5
2
7
7
7
4
5
0
132.
130.
129.
123.
122.
1
8
3
4
9
132.
130.
126.
122.
121.
5
5
7
8
7
132.
130.
123.
122.
122.
8
9
9
6
2
132.
131.
122.
121.
122.
9
0
2
7
2
65.
62.
65.
64.
66.
70.
67.
67.
69.
73.
0
4
1
6
1
4
8
5
8
4
87.
91.
96.
94.
74. 1
77. 3
81. 7
63. 0
63. 5
65. 5
62. 9
68. 0
69. 5
68. 0
66. 2
71. 7
70. 7
73.3
12 .
63, 9
61. 5
63. 9
65. 7
63. 8
68. 7
69. 4
68. 3
66. 3
72. 3
71. 4
74. 5
80 * 1
85. 2
88. 1
93. 3
97. 2
97. 1
102. 8
105. 0
99. 7
106. 5
115. 8
125. 9
119. 0
111. 0
120. 0
129. 2
132. 4
130. 4
122. 3
122. 2
65. 3
60. 8
63. 5
66. 2
64. 1
69. 6
68. 1
68. 2
6 7. 6
72. 8
71, 9
76 • 2
8
85, 9
89. 1
94. 1
96. 5
99.1
103. 0
103. 0
99. 8
109. 5
117. 8
123 5
118. 8
114. 3
128. 7
130. 1
7
8
9
7
6
no. 8
127.2
129.4
115.6
120.0
105.5
119.8
111.4
104.3
89.7
107.0
92.2
88.8
99.1
96.3
95.3
98.4
101.9
98.6
103. 7
104.3
96.3
100.5
110.7
111! 1
96. I
118. +
123. 1
123. 9
124. 3
117.7
122.0
111.7
115.3
112.5
95.3
119.7
125.6
124.7
127.3
113.7
123.7
111.3
117,7
129.6
128.4
115.6
117.6
106.9
132.1
126.8
114.6
115.0
107.3
135.8
124.5
111.9
113.9
108.5
110.1
102.2
90.0
108.6
92.2
107.0
101.2
94.7
106.8
90.2
90.0
98.9
97.1
95.9
98.2
101.0
98.9
103.3
103.6
97.2
101.8
111,4
116.3
110.4
98.4
120.9
125.
128.J
122.
109. 1
123.6
109. i
119.
91.7
98.5
97.2
97.0
97.9
100.4
96.8
103.6
102.6
96.9
102.1
111.5
116.3
109.9
101.2
120.5
106.2
101.5
98.1
103.7
88.7
94.0
97.4
97.0
96.3
98.4
100. 7
98.8
104.1
102.0
96.2
104.4
110.4
115.4
109.6
105.8
121.3
125.7
126.8
123.1
112.4
120.5
110.0
127.3
WD.U
126.9
124.5
109.9
120.2
111.0
124.2
142.1
121.9
109.6
114.1
108.5
122.1
99.7
101.0
100.8
101.2
88.4
94.7
97.5
96.6
97. 7
99.7
100.3
99.0
105.0
102.6
96.7
103.4
111.8
114.9
109.5
107.0
121.4
126.5
126.9
123.5
115.6
120.5
109.7
146.0
122.3
115.«
111.*
109.
11 7. J
105.]
97.3
102.
95.*
88. <
95.
9 7.-5
96.1
97.J
98. i
100.J
100.5
104.5
102.4
95.8
102.1
113.6
114.1
108.6
109.7
121.6
125.6
127.1
122.4
117.2
119.5
110.5
139.
121.
118.
109.
110.
U7.
104.
2
1
7
5
9
6
94. 6
101. 1
90. 4
91. 4
95.
96. 9
96. 4
96. 7
99. 7
100. 2
100 1
104. 5
102 0
96 0
103 0
114 3
113 7
106 7
111 5
120 9
126. 6
120
119
117
110
6
5
5
8
2
7
3
3
133.
131.
119.
123.
COINCIDENT COMPOSITE INDEX TO LAGGING COMPOSITE IND EX
( 1 9 6 7-100)
122.1
131.4
116,9
119.5
104.7
118.2
113.3
105.
90. J
1 0 5 . i)
9 4 . <)
I
98.' J
96. I
95. I
98.
101,
99. I
103.
104.1
96.5
99.7
109.8
Annual
IV Q
III Q
II Q
IQ
J
65.
62.
64.
65.
65.
70.
67.
67,
69.
74.
73.
77.
81*.
86.
91.
95.
94.
101.
104.
100.
101.
111.
119.
122.
115.
117,
123.
131.
131.
130.
122.
123.
6
0
3
2
2
7
5
5
1
0
3
6
8
1
8
5
2
5
3
9
3
8
3
6
6
7
7
2
4
1
3
62. 9
63. 0
65. 6
63. 4
67. 5
69. 7
67. 9
66. 4
71. 2
71. 4
73. 7
78.
83*. 0
88.3
92. 3
96. 7
95. 1
102. 6
106. 1
100. 9
103. 0
112. 0
123. 8
119. 3
111. 7
118. 2
126.
132. 7
130. 8
124. 3
122. 4
122, 0
64.
61.
64.
65.
65.
69.
68.
67.
68.
72.
72.
76.
81'.
86.
90.
95.
95.
100.
104.
102.
101.
109.
119.
122
116.
115,
123,
131,
131.
129.
121.
122,
122.
4
8
3
2
2
7
2
6
5
6
6
6
5
1
0
8
0
1
3
1
8
3
7
3
3
1
9
2
5
7
AVERAGE FOR PERIOD
4
6
7
2
3
4
1
5
3
7
2
0
8
6
9
7
8
3
3
9
3
0
2
95. 4
95. 0
98. 8
100. 8
99. 3
103. 7
104.4
100. 2
96. 9
105. 9
118. 8
123.
131.
115.
119.
104.
118.
112.*
104.
90.
105.
94.
87.
98.
96.
95.
98.
101.
99.
103.
104.
96.
99.
109.
5
0
7
2
4
3
3
1
4
9
9
132. 5
126. 6
114 0
115 5
107. 6
122. 2
107* 8
101 6
.
94. 3
106 4
90 4
91 9
98. 3
97 1
96 4
98 2
100 7
98 8
103 7
102 7
96 8
102 8
111 1
102. 1
113. 6
122. 2
97. 8
114. 2
123. 2
112. 2
95. 9
118. 2
110 0
101 8
120 9
126.
119.
118.
113.
113.
123.
125.
116.
122.
110.
116.
135. 3
120.5
120. 9
108. 6
112. 1
115.
105. 5
94. 3
100. 9
88. 6
91. 2
131.
119.
120.
106.
114.
114.
104.
91.
103.
89.
89.
3
7
1
2
0
1
2
7
8
4
1
96. 5
96. 7
94. 8
100. 0
100. 6
100.2
105. 0
101. 6
94. 0
103. 6
115. 9
96.
94.
97.
100.
99.
102.
105.
100.
93.
104.
117.
105. 5
111. 8
120. 2
127.
119.
121.
115.
110.
8
5
2
6
6
126.
118.
121.
114.
112.
7
7
0
9
3
136.
116.
119.
103.
115.
114.
105.
89.
101.
94.
87.
9
0
8
3
6
8
4
1
8
1
9
8
9
1
9
4
3
4
7
4
2
7
127
123
110
121
110
123
1
6
5
7
6
4
3
4
2
4
2
9
7
3
2
8
2
134.2
119. 0
120. 2
106. 2
113. 9
9
105.* 0
91. 8
102. 2
90. 8
69. 1
98. 5
96. 1
95. 4
97. 1
100. 3
99. 7
102. 1
104. 8
100. 8
94. 9
104. 7
117. 3
108 3
109 4
121 3
101. 8
113. 2
121. 9
142.
121.
114.
111.
109.
118.
103.
97
101.
95.
89.
95
97.
96
97
99
100
99
104
102
96
102
113
126
122
117
119
110
4
8
6
8
7
9
2
4
2
3
127.
Z19.
120.
114.
112.
1
1
3
6
2
133. 2
124, 8
116 2
113 3
109,0
11 8, c
107 2
98 9
97 0
99 6
90 8
93
97 5
96 2
96 6
99 0
100 5
100 0
104 1
102 5
96 1
102 6
112 9
115
108 1
105
120 6
125 6
126 3
122 6
116 3
119 3
110 9
1
DIFFUSION INDEX OF AVERAGE WORKWEEK OF PRODUCTION WORKERS, MANUFACTURING — 2 0 INDUSTRIES
i
22. 5
3 7.5
65.0
25.0
75.0
45.0
82.5
42.5
42.5
60.0
30 0
75 0
87 5
62. 5
20. 0
65. 0
42. 5
62. 5
27. 5
42. 5
82. 5
65. 0
72. 5
57. 5
51. 7
76 7
45
51 7
63 3
40 8
65 8
17 5
72 5
67
57
77
20
17
42 5
72. 5
72 5
57 5
5.0
37. 5
52 5
90 0
85 0
92,
60
15
30.
90
42
12
70
5
0
0
0
0
5
5
0
45. 0
35. 0
70. 0
35. 0
47. 5
72. 5
7. 5
1 7. 5
41.
85.
30.
45.
35.
75.
30.
69.
7
8
0
0
8
8
0
2
58 3
57 5
35 0
34 2
65 8
59 2
46 7
74 . 2
45
53
55
48
80
31
28
57
8
3
0
3
0
7
3
5
70
55
47
23
58
55
36
57
0
8
5
3
3
8
7
5
62.5
55.0
20.0
72.5
35.0
32.5
82.5
55.0
30.0
57.5
30.0
75.0
70.0
17.5
57.5
57.5
27.5
35.0
37.5
70.0
70.0
42.5
62.5
6 2.5
55.0
52.5
20.0
27.5
62.5
32.5
50.0
87.5
17.5
55.0
37.5
45.0
95.0
60.0
42.5
62.5
17 5
27 5
47 5
62 5
70 0
50 0
65 0
77 5
32 5
87, 5
72 5
22, 5
45.0
62. 5
60. 0
50 8
44 . 2
48 . 3
58
50
41
43
3
0
7
.3
52
71
73
35
5
7
3
0
47 5
27 5
17 5
45 0
45, 0
70 0
40. 0
52 5
87.5
57 5
25.0
27 5
50.0
75 0
67 5
37 5
42 5
65 0
65 0
52 5
40 0
77 5
70 0
70 0
7 5
72 5
57 5
37 5
70.0
57 5
85 0
22 5
80 0
62 5
77. 5
20. 0
32. 5
15. 0
90.0
57 5
37, 5
50 0
65 0
80 0
30 0
62 5
55 0
56, 7
60. 0
61. 7
35.8
22. 5
51 7
49 2
57 5
50 0
30 8
47 5
41 7
63 3
55 . 8
40 0
.3
57 . 5
60 . 8
38 3
46 , 7
66 . 7
47 . 5
69 . 2
53 . 3
49 . 2
30 . 0
51 . 7
52 . 5
68 . 3
57 5
49 2
37 . 5
33 . 3
46 7
58 3
34 . 2
78 . 3
38 . 3
45 . 0
50 . 0
56 . 7
69 . 2
36 . 7
38.3
75 . 0
36
47
60
80
49
42
16
70
63
47
52
55
76
39
65
52
7
5
8
8
2
5
7
8
3
5
5
0
7
2
0
5
90 0
62.5
65.0
80.0
62.5
67.5
82.5
1951...
1952...
1953...
1954...
1955...
1956...
1957...
1958...
1959...
1960...
1961...
1962...
1963...
1964...
1965...
1966
196 7
196 8
196 9
1970
1971
1972
1973
1974
1975
1976
1977...
1978...
1979...
1980...
1981...
1982...
1983...
1984...
75 0
17 5
22 5
92 5
35 0
35 0
27 5
92 5
45 0
92 5
25 0
82
0 0
60 0
57 5
72 5
15 0
52
35 0
75 . 0
50 0
42 5
27 5
27 5
92 5
15 . 0
2.5
27 . 5
50 . 0
62 . 5
5.0
77 . 5
42.5
42.5
75.0
82.5
30.0
77.5
17.5
62.5
12.5
57.5
60.0
37.5
85.0
27.5
82.5
25.0
22.5
62.5
72.5
32.5
57.5
77.5
25.0
45.0
30.0
42.5
70.0
47.5
40.0
75.0
37.5
80.0
77.5
80.0
27.5
67.5
92.5
5.0
10.0
6 5.0
70.0
80.0
45.0
25.0
50.0
17.5
77.5
37.5
30.0
45.0
92.5
32.5
22.5
97.5
35.0
90.0
52.5
82.5
5.0
90.0
45.0
75.0
40.0
47.5
15.0
77.5
17.5
40.0
57.5
17.5
35.0
85.0
65.0
30.0
90.0
40.0
30.0
17.5
22.5
72.5
92.5
42.5
10.0
27.5
97.5
77.5
52.5
30.0
17.5
95.0
12.5
32.5
72.5
57.5
50.0
37.5
30.0
35.0
35.0
92.5
70.0
12.5
62.5
25.0
100.0
20.0
45.0
90.0
55.0
10.0
70.0
25.0
80.0
80.0
0.0
42.5
55.0
22.5
90.0
35.0
75.0
12.5
27.5
90.0
50.0
95.0
45.0
10.0
87.5
22.5
80.0
65.0
30.0
40.0
55.0
60.0
40.0
60.0
52.5
80.0
32.5
40.0
80.0
22. 5
82.5
70.0
60.0
25.0
20.0
70.0
85.0
52 5
82 5
62 5
10 0
175
47 5
85 0
22 5
72 . 5
27 5
62 . 5
55 . 0
67 . 5
85 . 0
15.0
35 . 0
92 . 5
MOTE; Unless otherwise noted, these series contain no revisions but are reprinted for the convenience of the user,
^his series contains revisions beginning with 1979.
WI RAGE FOR PERIOD
77.5
22.5
87.5
35.0
55.0
62.5
22.5
42.5
80.0
32.5
25.0
70.0
1950...
49 2
55. 0
52 5
65
49
55
38
54
63
41
37
60
55
35
64
9
.7
.0
.6
4
.6
57 . 1
54 . 4
55 . 4
46 . 7
50 . 4
47 . 5
47 . 3
41 . 2
57 . 1
54 2
50 2
33 3
59 . 6
50
52
53
52
51
43
49 , 4
64 . 8
(JULY 1984)
101
C.
Historical Data for Selected Series—Continued
Year
Jan.
961.
1950.,,
1951...
1952...
1953..,
1954.. .
1955...
1956...
1957,..
1958.. .
1959...
1960...
1961...
1962...
1963...
1964...
196 5 . . .
1966...
1967...
196 8 . . .
1969...
19 7 0 . . .
1971...
1972.,.
19 7 3 . . .
19 7 4 . . .
1975,..
19 7 6 . . .
1977...
1978...
1979...
1980.. .
1981...
1982.,.
1983...
1984...
963.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
IQ
II Q
IV Q
III Q
Annual
OIFFUSIOH INDEX OF AVERAGE WORKWKEK OF PRODUCTION WORKERS, MAHUFACTURI NG—20 IN DUSTRIES
(PERCENT RISING OVER 9-MONTH SPANS)
8 7.5
40.0
50.0
2! 5
100.0
2 7.5
20.0
ICO
96.0
22. 5
42. %
85.0
57.5
72.5
87.5
85.0
10.0
63.0
45.0
S.O
6 S. 0
8S.0
57.5
20.0
0.0
82.5
82,5
72,. 5
12,5
15.0
95.0
7.5
90.0
92.5
42.5
40.0
25.0
52.5
100.0
15.0
15.0
15,0
95.0
30.0
87.5
82.5
35.0
65.0
77.5
85.0
12.5
70, 0
22.5
10.0
87.5
90., 0
3 7,, 5
10,0
15,0
65,0
90.0
72.5
12.5
0.0
80.0
30.0
90.0
100.0
15.0
45.0
15.0
35.0
85.0
0.0
17.5
42.5
90.0
27.5
75.0
67.5
95.0
72.5
85.0
55.0
12.5
65.0
22.5
17.5
80.0
90.0
45.0
10.0
22.5
77.5
75.0
62.5
12.5
0.0
62.5
25.0
80.0
100.0
25.0
55.0
7.5
40,0
85.0
5.0
22.5
67.5
95.0
22.5
95.0
30.0
70.0
90.0
77.5
52.5
25.0
40.0
40.0
12.5
77.5
92.5
35.0
2.5
60.0
62.5
82.5
5 5.0
12.5
7.5
42.5
20.0
85.0
95.0
20.0
77.5
5.0
42.5
85.0
12.5
12.5
92.5
72.5
10.0
90.0
70.0
82.5
50.0
27.5
42.5
35.0
77.5
42.5
15.0
45.0
80.0
77.5
2.5
67.5
25.0
82.5
70. 0
32.5
2.5
15.0
20.0
95.0
90.0
20.0
72.5
15.0
57.5
90.0
15.0
5.0
90.0
42.5
10.0
97.5
50.0
80.0
87.5
52.5
32.5
27.5
87.5
25.0
10.0
65.0
77.5
67.5
15.0
65.0
15.0
90.0
100.0
25.0
22.5
12.5
82.5
95,0
95.0
30.0
57.5
10. 0
97.5
20.0
15.0
77,5
40.0
55.0
92.5
95.0
12.5
62,5
40.0
15.0
52.5
92.5
67.5
32.5
75.0
25. 0
87.5
2.5
90. 0
55.0
3 0.0
7. 5
95.0
17.5
25.0
95.0
^2.5
(10. 0
1)7.5
85.0
JO.O
2 7.5
45.0
5.0
45.0
95.0
72.5
7.5
93.3
32.5
45.0
37.5
30.0
95.0
14.2
17.5
22.5
91.7
26.7
68.3
78.3
62.5
70.0
83.3
75.0
11,7
66. 7
30.0
10.8
77.5
88.3
46.7
95.0
21. 7
68.3
9.2
46.7
86.7
10. 8
13.3
83.3
70.0
14.2
94.2
50,0
77.5
75.8
52.5
42.5
29.2
68.3
35.8
12.5
62.5
83.3
60.0
95.0
57.5
57.5
55.0
15.0
90.0
5.0
85.0
85.0
72. 5
50.0
100.0
10.0
20.0
100.0
5.0
97.5
92.5
12.5
75.0
82.5
69.2
12.5
5.0
79.2
20.8
86. 7
64.2
34.2
85.0
75.0
23.3
10.8
23.3
40.8
91.7
95.0
27.5
75.0
95.. 0
20.0
80.0
85.0
30.0
95.0
80.0
35.0
65.0
67.5
32.5
90.0
72.5
90.0
12.5
0.0
100.0
42.5
10.0
95.0
47.5
67.5
72.5
6 2.5
10.0
72.5
32.5
62.5
15.0
75.0
75.0
42.5
0.0
90.0
3 2.5
45.0
8 7.5
42.5
40.0
20.0
3 5.0
95.0
80.0
80.0
27.5
0,0
95.0
45.0
7.5
87.5
25.0
60.0
95.0
70.0
15.0
65.0
55.0
20.0
15.0
77.5
50.0
27.5
5.0
95.1)
42.3
72.5
5 7.5
30.0
80.(1
20.0
65.0
95.0
92.5
85.0
15.0
5.0
92.5
35.0
35.0
67.5
27.5
50.0
82.5
90.0
15.0
32.5
85.0
22. 5
42.5
77.5
27.5
20.0
35.0
100.0
45.0
10.0
17.5
72.5
75.0
5.0
82.5
92.5
92.5
42.5
52.5
10.0
97.5
12.5
10.0
92.5
17.5
62.5
85.0
97.5
7.5
72.5
22.5
7.5
32.5
77.5
70.0
27.5
0.0
100.0
57.5
20.0
55.0
37.5
92.5
7.5
57.5
95.0
DIFFUSION INDEX OF NUMBER OF EMPLOYEES ON PRIVATE NONAGRICDLTURAl PATROLLS--172-186 INDUSTRIES
(PERCENT RISING OVER 1-MONTH SPANS)
91.7
25.8
83.3
3.3
81.7
85.0
18.3
1.7
95.8
40.8
17.5
83.3
33.3
59.2
83.3
74.2
13.3
56.7
57.5
35.0
24.2
76.7
50.8
30.0
13.3
95.0
40.0
42.5
54.2
48,3
65.0
15.0
60.8
94.2
74.2
30.8
80.8
2.5
92.5
42.5
46.7
9.2
96.7
16.7
16.7
88.3
26.7
65.8
78.3
92.5
10.0
54.2
35.8
9.2
43.3
88,3
70.0
22.5
2.5
89.2
55.0
59.2
40.0
24.2
94.2
5.8
80.0
90.8
8B.5
2?. 7
69.4
13.1
62.7
7 7.3
22.5
10.4
74.6
54.8
18.8
83.5
47.1
66.2
76.9
75.6
35.2
37,9
57,1
2 7,5
22.7
76.2
73, 1
39, 8
9.0
65.2
51.0
67.3
59.6
27.1
43.8
30.8
50. A
90.8
AVERAGE FOR PERIOD
1950,..
1 952.. .
1953...
1954...
1955.. .
1957. . .
1958...
1959...
1960...
1961. , .
1962...
1963.
,.
1964...
196 5 . . .
1966...
1967...
1968,..
1969...
1970.. .
1971.. .
1972...
1973...
1974.. .
1975.. .
1976.,,
1977...
1978...
1979...
1980...
1981...
1982...
1983...
1984...
963.
83*0
67.5
40, B
56.9
57. 5
57.2
70.4
73.1
6 3.8
45.3
6 4.5
5 0 . !)
41.6
71.5
6 7. 7
60.6
20.4
73. 7
69.1
65.9
6 3.5
53.2
55.9
27.6
54.3
11.0
6 4,4
70.9
17.3
77.3
46.3
5 5.1
60.6
65.9
61.7
76.3
81.4
36, 2
72. <>
46.4
70.3.
70.4
79.3
72. 7
69.5
44.8
37.5
74.2
78.0
5 8.3
23. 9
70.4
64.2
63.7
64.3
53.2
53.2
4 7.6
46.5
59.6
66.0
39.0
41.0
67.2
67.2
47.6
28,2
6 7,5
73. 7
70. 4
64.9
49.2
51.6
35.7
60.8
DIFFUSION INDEX OF NUMBEJ
70.1
57.2
53.0
62.3
66.8
77.8
54.4
65.0
43.3
6 2.6
53.3
61.4
72.8
77.8
65.9
72.3
55.5
39.3
69.5
63.2
61.7
62.3
64.1
66.5
84.0
72.1
34.0
53.9
53.6
61.7
80.8
79.0
42.5
68.6
48.2
35.0
6 9.5
57.2
60.5
56.0
74.6
67.1
74.2
58.3
29.1
70.4
46.1
47.6
65.6
79.9
64.7
69.2
70.1
34.6
38.4
65.1
57.3
48.9
44.6
53.0
65.1
6 9.9
61.6
30.3
55. 7
33.5
64.6
64.2
62.2
51.2
57.3
46.5
53.0
50.3
57.8
58.3
64.6
60.8
54.1
32.4
55.7
34.6
74.3
66.3
58.7
31.4
49.1
60.8
54.3
42.7
69.6
54.0
61.0
6 4.5
53.2
61.1
49.7
32,4
68.6
58.7
42,2
48.0
77.0
62.1
51.1
34.4
66.9
64,0
66. 7
69.5
55.8
28.5
46.8
64.8
64.5
38.4
65.6
48. 7
63.2
47.8
59.5
42.7
37.3
69.5
63.5
65.7
34.6
28.9
75.4
19.2
77.6
52,, 1
35.8
79.8
43,9
50.3
69.6
37.4
55.1
71.6
65.9
65.9
71.6
74.9
69.5
62.9
64.4
69.2
65,3
71,6
65.1
62.2
30.8
57.6
62.1
60.5
51.1
41.1
70.2
72.3
72.0
50.8
31.1
64,3
31.1
68.9
58.7
59.3
25.6
65.7
62.1
50.3
50.5
51.9
59.7
70.4
64.2
59.7
29.7
58.1
41.1
69.5
71.1
73.6
21.2
74! 9
61.6
74.4
54.4
28.2
63.1
72.0
75.5
26.1
59.1
61.8
68.8
50.0
58.4
68.9
80.5
65.0
66.3
67.2
59.3
41.9
62.5
72,3
69,4
22..0
6 8.. 5
59-7
71.8
63.4
56.6
63.0
72.4
77.9
52.
59.2
66.7
44.9
40.0
71.0
71.0
55.6
24.2
70.5
69.0
53.2
63.8
31.1
32.4
69.7
54.6
61.6
32.2
45.7
73.8
64. 2
51.9
53.6
37.0
53.9
OF EMPLOYEES ON PRIVATE NONAGRICULTURAL PAYROLLS--172-186 INDUSTRIES
(PERCENT RISIN( OVER 6 -MONTH SPANS)
35.1
75.7
44.5
70.2
64.2
38.9
71.3
60.0
26.4
63.9
61.1
65.8
67.9
74.8
51.4
64.3
63.9
30.3
53.9
63.1
56.0
50.2
45.9
61.0
69.3
68. 7
57.4
30.4
59.4
35.2
6 7.7
56.7
61.6
72.0
73.6
58.3
55.4
63*1
54.4
43.5
61.1
56.5
52.8
42.5
64.8
58.8
64.2
63.0
51.7
51,0
49.4
34,8
70.8
51.1
55.5
63.5
78.3
65.6
63.6
70*4
56.5
32.9
57.5
69.7
69.8
28.8
64.4
56.7
67.9
69.9
57.1
63.7
32.6
35.7
73.0
6 8.*?
43.3
60. J
58.(1
58,?
66.1
73.1
69.2
55.6
64^
60.4
37.9
53.1
65.1
62.4
44.3
49.8
61.8
67.6
67.1
57.6
49.2
48.7
3J. 7
66.3
AVERAGE FOR PERIOD
1950...
1951...
1952.,.
1954.,.
1955...
1956...
1957. . .
1959.,.
I960.. .
1961..,
1962.. .
1963.. .
1964.. .
1965...
1966.. .
1967.. .
1968..,
196 9 . . .
19 7 0 . . .
1971...
1972.. .
19 7 3 . . .
19 7 4 . . .
1975...
1976...
1977.. .
1978...
1979...
1980...
1981...
1982...
1983...
1984...
NOTE:
92.1
70.2
24.2
77.5
58.4
66.5
80.8
88.3
61.1
73.5
76. 7
41.0
38.4
82.0
85.8
66. 7
12.1
83.1
83,3
80.6
72.7
41.9
70.0
19.2
50.8
89.9
66.9
28.2
77.2
6^). 8
71.9
78,4
85.9
53.6
70.9
71.2
34,9
43.6
83.4
82.0
59.9
14.2
83. 9
85.2
81.2
70.5
35.4
62.4
22.2
63.0
54.6
55.8
75.4
64,4
74.3
81,1
85.9
52.1
75.0
73.5
28.2
44. 2
86.3
74.5
53.8
20.2
77.4
83.6
82. 0
67.6
30.8
62.4
21.9
69.2
24.
76. J
53. )
65. f
81..
I
74,
64.'»
78.2
61.4
25.7
58.0
75.6
6 7.7
31.0
70.7
64.7
75.0
74.5
51,1
45.6
37.2
21.1
83.7
38.3
73.7
68.0
74.3
74.9
36.5
71.6
67.4
71.3
80.5
26.7
78.1
61.1
68.6
78.7
24,5
76.9
50.9
61.7
82.6
21.5
75.7
49.7
65.9
82.6
19.9
70.4
52.4
64.7
79. 3
20.2
73.1
45.5
65.6
82.0
20.9
72. 5
54.2
6 7.7
82.0
63.9
36.1
76. 7
62.2
70.9
40.5
68.1
68.9
70.8
77.8
81.7
48.8
77.9
77.3
30.5
49.4
77. 7
68.8
51.9
31.2
74.7
79.8
76.6
62,7
23.8
65.4
24.6
75.1
79.0
52.3
73.5
77.t
20..
50.t
72.:
63.
44.
48.
70.^
79.0
78.5
56.5
25.9
59.2
20.3
80.0
74.3
51. 7
75.3
70.6
22. 7
61.6
71.8
57.5
41.1
57.0
71.8
77.7
76.6
49. 7
26.5
54.1
21.4
82.4
77.2
59.6
78.5
6 7.7
24.1
55.2
73.7
61.6
37.1
67.2
62.9
73.9
71.5
54.9
32.7
45.1
21.4
84.1
74.9
66.0
78.5
59.3
24.1
56.1
76.9
70.2
32.0
69.6
66.1
74.7
75.5
48.4
44.3
35.7
16.6
82.4
71.3
6 7.7
77.6
57.3
28.8
62.8
76.1
71.2
23.9
75.3
65.1
76.3
76.6
50. 0
59. 7
30.8
23.2
84.6
68.0
64.2
77.0
54. 7
27.6
70.3
79.3
71.0
20.2
78.8
68.8
78.2
78.2
52.4
74.3
25. 7
27.3
85.9
65.0
66.9
76.5
53.5
30.5
77.6
82.8
73.4
16.9
81.7
72.0
80.1
73.1
54.3
70.5
25.9
29.5
86.8
6 5.0
70.9
76. 7
4 9.7
26.7
77.6
82.5
72.3
13.4
60.6
73.9
79.8
74. 2
53.8
71 . 1
23.0
35.4
83.8
86. 7
55.6
73,1
73.8
34.7
42.1
83.9
78.3
50.9
75.6
75.0
24.5
53.9
73.9
63,2
46.0
45.7
72.3
78.8
77.2
56.3
25.4
59.6
22.1
79.2
These series contain revisions beginning with 1979.
102
7 4.
46.6
59.0
71.3
66.8
78.1
80.8
60.1
15.5
81.5
64.0
81.3
70.3
36.0
64.9
21.1
61.0
R
2 9.6
ft
e
1
20.3
72.0
50.7
66.0
81.1
89.1
66.0
67.3
76.7
52.6
28.3
75.2
81.5
72.2
16.8
80.4
71.6
79.4
75.2
53,5
72.0
24.9
30.7
85.5
37.2
63.3
62.6
66.1
77,8
85.0
76.4
59.6
75.9
65.7
28,.
57..
78.
71.(
38,
53.:
72..
79..
77.0
57.8
44.7
46.6
23.8
77.3
(JULY 1984)
E. Business Cycle Expansions and Contractions in the United States
Duration in months
Trough
Cycle
Contraction
(trough from
previous
peak)
Business cycle reference dates
Expansion
(trough to
peak)
Peak from
previous
peak
Trough from
previous
trough
Peak
18
30
22
46
18
34
March 1882
March 1887
July 1890
January 1893
December 1895 .,
65
38
13
10
17
June 1897
December 1900
August 1904
June 1908
January 1912
June 1899
September 1902 ,
May 1907
January 1910
..January 1913....
December 1914
March 1919
July 1921
July 1924
November 1927
December 1854
December 1858
June 1861
December 1867
December 1870
June 1857
October 1860
April 1865
June 1869
October 1873
March 1879
May 1885
April 1888
May 1891
June 1894
18
8
40
48
30
M.
IA
36
50
52
36
22
27
20
18
99
74
35
37
37
101
60
40
30
35
18
18
23
13
24
24
21
33
19
12
36
42
44
46
43
42
39
56
32
36
August 1918 ....
January 1920....
May 1923
October 1926 ...
August 1929 ....
23
14
35
M
18
14
13
10
22
27
21
28
36
40
67
17
40
41
34
March 1933
June 1938
October 1945
October 1949
May 1954
May 1937
February 1945 ..
November 1948.
July 1953
August 1957 ....
43
13
50
80
37
64
63
31
April 1958
February 1961
November 1970
March 1975
July 1980
November 1982
April 1960
Decemberl969 .
November 1973 .
January 1980....
July 1981
,
21
1
1
11
10
10
11
16
6
16
i5
ii
93
45
%
49
48
39
47
34
24
106
36
58
12
iiZ
32
Jit
47
74
18
52
64
28
Average, all cycles:
1854-1982 (30 cycles).
1854-1919 (16 cycles) .
1919-1945 (6 cycles)...
19454982 (8 cycles) ..
18
22
18
11
33
27
35
45
51
48
53
56
Average, peacetime cycles:
1854-1982 (25 cycles)...
1854-1919(14cycles) ...
1919-1945 (5 cycles)
1945-1982 (6 cycles)....
19
22
20
11
27
24
26
34
46
46
46
46
1
51
49
53
3
55
2
3
4
46
47
45
44
NOTE: Underscored figures are the wartime expansions (Civil War, World Wars I and II, Korean war, and Vietnam war), the postwar contractions, and the full cycles
that include the wartime expansions.
1
29 cycles.
1
15 cycles.
5
24 cycles.
* 13 cycles.
Source: National Bureau of Economic Research, Inc.
103
G. Experimental Data and Analyses
(Nov.)
P
and
quarter
Unit labor cost.
all persons, nonfarm
business sector
Implicit price
deflator, gross
nortfarm business
f\ f* f\ nil/^
Components of BCD series 26— '
T
prouuc L
(Index: 1977-100)
(Index: 1977=100)
146.4
148.3
149.1
150.5
151.3
153.6
155.4
157.1
1982
I Q....
II Q...
Ill Q..
IV Q...
(Nov.)
T
1111111111 miw 111111 nrn iT|TTii|Tiiiim 111 1II
Components of BCD series 26 x
Year
(Jan.) (July) (July)
P T
P
(Mar.)
T
Implicit price deflator, gross nonfarm
business produpt, Q
(index: 1977-100)
170
160
ISO
1983
152.4
153.4
154.7
156.1
I Q....
II Q...
Ill Q..
IV Q.,.
158.3
157.2
157.8
158.4
140
Unit labor cost, all persons, nonfarm
business sector, Q
(index: 1977 = 100)
110
100
156.9
I Q....
II Q...
Ill Q..
IV Q...
159.4
90
80
Inventory-sales ratios in 1972 dollars 2
1983
Manufacturing
Retail trade
(Ratio)
Merchant
wholesalers
(Ratio)
n
n
Revised3
Inventory-sales ratios in 1972 dollars (ratio)—
2.2
1.97
1.97
1.91
1.89
1.85
1.79
1.47
1.51
1.50
1,52
1.41
1.37
1.36
1.38
1.35
1.35
1.33
1.31
July...
Aug
Sept...
Oct....
Nov
Dec
1.82
1.79
1.78
1.79
1.75
1.71
1.39
1.40
1,39
1.39
1.39
1.36
1.31
1.33
1.32
1.32
1.32
1.31
2.1
2.0
1.9
1.8
1.7
1.5
1.4
1984
1.71
1.72
1.72
pi.75
(NA)
1.33
1.37
1.36
pi.37
(NA)
1.30
1.33
1.37
1.34
pi.32
1.3
1.2
(NA)
June
July
Aug.
Sept
Oct.
Nov.
Dec.
Arithmetic
scale
(Ratio)
Jan
Feb..,.
Mar....
Apr... .
May
June...
Jan....
Feb.
Mar.
Apr.
May.
130
120
1984
Year
and
month
Ratio scale
170
160
ISO
140
130
120
110
1.5
,
1.4
1.3
•
1971 1972 1973 1974 1975
NOTE: The "r" indicates revised; "p", preliminary; and "NA", not available.
Source: U.S. Department of Labor, Bureau of Labor Statistics.
2
Source: U.S. Department of Commerce, Bureau of Economic Analysis.
3
See "New Features and Changes for This Issue," page iii.
104
1977 1978 1979 1980 1981 1982 1983 1984
G. Experimental Data and Analyses—Continued
Net Contributions of Individual Components to the Leading, Roughly Coincident, and Lagging Composite Indexes
Basic data
Series title
(and unit of measure)
LEADING INDICATORS
1. Average workweek, production workers,
manufacturing (hours)
5. Average weekly initial claims,
State
unemployment insurance1 (thousands)
8. New orders for consumer goods and materials
in 1972 dollars (billion dollars)
32. Vendor performance, companies receiving
slower deliveries (percent)
12. Net business formation
(index: 1967=100)
20. Contracts and orders for plant and equipment
in 1972 dollars (billion dollars)
.
29. New building permits, private housing
units (index: 1967=100)
36. Change in inventories2 on hand and on order in
1972 dol., smoothed (ann. rate, bil. do!.) .
99, Change in sensitive materials prices,
smoothed2 (percent)
19. Stock prices, 500 common stocks
(index: 1941-43-10)
106. Money supply (M2) in 1972 dollars
(billion dollars)
111. Change in credit—business and consumer
borrowing (annual rate, percent)
910. Composite index of 12 leading indicators3
(index: 1967-100)
ROUGHLY COINCIDENT INDICATORS
41. Employees on nonagricultural payrolls
(thousands)
51. Personal income less transfers in 1972
dollars (annual rate, billion dollars).
47. Industrial production, total
(index: 1967=100)
57, Manufacturing and trade sales in 1972
dollars (million dollars)
920. Composite index of 4 roughly coincident
indicators3 (index: 1967=100)
LAGGING INDICATORS
91. Average duration of unemployment1
(weeks)
77. Ratio, constant-dollar inventories to sales,
manufacturing and trade (ratio)
62. Labor cost per unit of output, manufacturingactual data as a percent of trend (percent)
109. Average prime rate charged by banks
(percent)
101. Commercial and industrial loans outstanding
in 1972 dollars (million dollars)
95. Ratio, consumer installment credit to
personal income (percent)
930. Composite index of 6 lagging indicators 3
(index: 1967=100)
Net contribution to index
Mar.
to
Apr.
1984
Apr.
to
May
1984
May
to
June
1984
Apr.
1984
May
1984
40.7
r41.1
r40.6
p40.6
0.30
-0.38
0.00
348
360
348
350
-0.09
0.09
-0.02
37.52
37.31
r38.46
p36.18
-0.03
0,15
-0.36
72
71
70
66
-0.04
-0.04
-0.19
117.6
118.6
116.2
pll5.8
0.12
-0.29
-0.06
rl5.7I
rl4.62
rl7.11
pl5.59
-0.16
0.34
-0.24
139.5
142.0
141 .0
142.8
0.05
-0.02
0.05
r31.87
r35.06
p34.26
0.18
-0.04
NA
0.34
0.39
0.27
-0.12
0.02
-0.05
-0.18
157.44
157.60
156.55
153 .12
0.01
-0.04
-0.17
r908.4
r909.4
r914.0
p917.8
0.04
0.16
0.16
r20.8
20.2
p26.2
NA
-0.03
0.31
rl67.5
168.3
rl68.9
pl67.4
0.48
0.36
-0.89
93,058
r93,449
r93 f 718
p94,019
0.35
0.24
0.34
rl,155.3
rl,165.7
rl,170.5
pl,177.3
0.45
0.21
0.37
160.8
rl62.2
rl62.8
pl63.6
0.24
0.10
0.18
rl72,085
r l 7 3 ,770
pl77,346
0.22
0.45
r l 5 1 .0
rl52.6
r l 5 3 .9
pl55.0
1 .06
0.85
0.71
18.8
18.5
18.4
18.6
0.12
0.04
-0.11
r l .54
rl.54
pi.52
NA
0.00
-0.26
NA
r87.9
r87.4
r86.6
p86.2
-0.18
-0.29
-0.22
11 .21
11.93
12.39
U.60
0.51
0.32
0.22
rl08,045
rill,010
rll4,204
0.72
0.75
0.67
rl3.80
r l 3 .88
pl4.17
0.31
1.11
rll3.3
rll4.9
rl!6.9
1.41
1 .74
Mar.
1984
June
1984
NA
NA
pll6,187
NA
pll7.6
NOTE: The net contribution of an individual component is that component's share in the composite movement of
is computed by dividing the standardized and weighted change for the component by the sum of the weights for the
ponents and dividing that result by the index standardization factor. See the February 1983 issue of BUSINESS
(pp. 108-109) for the weights and standardization factors. NA, not available, p, preliminary, r, revised, e,
NA
NA
NA
0.60
the group. I t
available comCONDITIONS DIGEST
estimated.
1
This series is inverted in computing the composite index; i . e . , a decrease in this series is considered an upward movement.
This series is a weighted 4-term moving average (with weights 1,2,2,1) placed on the terminal month of the span,
Figures in the net contribution columns are percent changes in the index. The percent change is equal (except for rounding
differences) to the sum of the individual components1 contributions plus the trend adjustment factor. The trend adjustment
factor for the leading index is 0.139; for the coincident index, -0.175; for the lagging index, 0.018.
2
3
105
G. Experimental Data and Analyses—Continued
Cyclical Comparisons: Current and Selected Historical Patterns
HOW TO READ CYCLICAL COMPARISON CHARTS
These charts show graphically, for selected indicators, the path of
the current business cycle. To set the current movements in historical
perspective, cyclical paths over generally similar historical periods also
are shown. The selected periods are superimposed to compare the
current business cycle with corresponding historical patterns and to
facilitate critical assessment of the amplitude, duration, and severity of
the indicators' current movements.
1. For most indicators, two cyclical comparison charts are shown.
In the left panel, comparisons are based on reference peak levels and
reference trough dates; m the right panel, comparisons are based on
both the levels and the dates of the specific troughs in each indicator.
(See the charts on the following pages.)
The three-part code indicates the timing
classification of the series at peaks, at troughs,
and at all turns: L=leading; C=roughly coincident; Lg= lagging; and U=unclassified,
This number indicates the latest month (or
quarter) of data plotted. (1 -January)
1 I I I I [ I I I | I I I I I I 111 I I I | I 1 1 I I j I T I T I T
1
\
I
Series number, series title
I
2. The vertical line represents trough dates: reference trough
dates in the left panel and specific trough dates in the right panel. The
current cycle and the corresponding historical periods are positioned so
that their reference trough dates (left panel) and specific trough dates
(right panel) are on this vertical line.
• 135
-1+5
•130
3. The horizontal line represents the level of data at reference cycle peaks (left panel) and specific cycle troughs (right panel). The
current cycle and the corresponding historical periods are positioned so
that their reference peak levels (left panel) and specific trough, levels
(right panel) are on this horizontal line.
• 125
4. For most series, deviations (percent or actual differences) from
the reference peak and specific trough levels are computed and plotted.
For series measured in percent units (e.g., the unemployment rate),
these units (actual data) are plotted rather than deviations. The deviations (if plotted) and actual data for the current cycle are shown in the
tables accompanying the charts.
•120
5. For series that move counter to movements in general business
activity (e.g., the unemployment rate), art inverted scale is used; i.e.,
declines in data are plotted as upward movements, and increases in
data are plotted as downward movements.
-10
6. Several curves are shown in each chart. The heavy solid line
( • » ) describes the current cycle, The dotted line ( • • • ) represents
the median pattern of the seven post-World War II cycles. The other
lines represent selected business cycles. In the left panel, each line is
labeled according to the year of the reference trough; in the right panel,
each line is labeled according to the date of the specific trough.
-15
7, These charts use the business cycle (reference) peak and trough
dates designated by the National Bureau of Economic Research, Inc.
Peaks: Nov. 11)48 (IVQ 1948), July 1953 (IIQ 1953), Aug. 1957
(IIIQ 1957), Apr, l % 0 (IIQ 1960), Dec. 1969 (IVQ 1969), Nov. 1973
(IVQ 1973), Jan. 1980 (IQ 1980), July 1981 (IIIQ 1981).
• 110
-12
-6
0
+6
+18
Months from troughs
Troughs: Oct. 1949 (IVQ 1949), May 1954 (IIQ 1954), Apr. 1958
(IIQ 1958), Feb. 1961 (IQ 1961), Nov. 1970 (IVQ 1970), Mar. 1975 (IQ
1975), July 1980 (IIIQ 1980), November 1982 (IVQ 1982).
This scaJe measures time in months before ( - )
and after ( + ) reference trough dates (left
panel) and specific trough dates (right panel).
106
This scale shows deviations (percent or actual
differences) from reference peak levels (left
and specific trough levels (right panei).
This scale shows actual series units and applies
only to the current business cycle (heavy solid
line).
G. Experimental Data and Analyses—Continued
Cyclical Comparisons: Current and Selected Historical Patterns
ti M i |iiuirn
Deviations
from
reference
peaks
5. Average weekly initial claims, State
unemployment insurance (inverted)
Actual
data
for
current
cycle
MONTHS
DEVIFROM ATIONS CURRENT MONTH
ACTUAL
AND
FROM
REF.
TROUGH
DATA
YEAR
7/81
5. Average weekly initial claims, State
unemployment insurance (inverted)
SERIES
5
THOUSANDS
Deviations
from
Actual
data
specific
troughs
current
cycle
for
Percent
8
-3.8
380
7/83
9
10
11
12
3.3
-2.0
-2.3
-3.5
408
387
3 86
381
9/83
10/83
11/83
13
• 450
14
15
16
-4,3
-7.8
-12,7
-11 .9
378
364
345
348
12/83
1/84
2/84
3/84
• 500
17
18
19
-8.9
-11,9
-11.4
360
348
350
4/84
5/84
6/84
-20
• 350
-10
• 400
0
+ 10
+ 20
+ 30
• 550
+ 40
+ 50
+ 60
+ 70
*750
+ 90
43. Unemployment rate, total
(inverted)
•
375
-40
M25
-30
•
-41 .8
-3 7.5
-40.7
380.
408.
387,
13
-40.9
- 4 1 .7
-42.1
-44.3
3 86.
381.
378.
364.
10/83
11/83
12/83
1/84
20
-47.2
-46.7
-44.9
-46.7
345.
348,
360.
348.
2/84
3/84
4/84
5/84
21
-46,4
350.
6/84
17
18
19
MONTHS
FROM
REF.
TROUGH
-20
7/83
8/83
9/83
10
11
12
.800
+ 110
• 325
475
SERIES
5
THOUSANDS
14
15
16
+ 80
Percent
-i -50
MONTHS
DEVIFROM ATIONS CURRENT MONTH
SPEC.
FROM
ACTUAL
AND
TRODGH
9/82
DATA
YEAR
• 600
• 650
8/83
• 525
• 575
-10
• 625
CURRENT MONTH
ACTUAL
AND
DATA
YEAR
SERIES
43
PERCENT
8
9
.5
7/83
9
10
11
12
9
.5
9 .2
8 .8
8 .4
8/83
9/83
10/83
11/83
13
14
15
16
8 .2
8 .0
7 .8
7 .8
12/83
1/84
2/84
3/84
17
18
19
7 .8
7 .5
7. 1
4/84
5/84
6/84
43. Unemployment rate, total
(inverted)
SSI
MONTHS
DEVIFROM ATIONS CURRENT MOUTH
SPEC.
FROM
AND
ACTUAL
TROUGH
DATA
YEAR
12/82
SERIES
43
PERCENT
-
0 +6
-1.2
-1.2
9.5
9.5
8/83
9
10
11
12
-1.5
-1.9
-2.3
-2.5
9.2
8.8
8.4
8.2
9/83
10/83
11/83
12/83
13
14
15
16
-2.7
-2.9
-2.9
-2.9
8.0
7.8
7.8
• 7.8
1/84
2/84
3/84
4/84
17
18
-3.2
-3.6
7.5
7.1
5/84
6/84
+12 +18 +24 +30
Months from reference troughs
NOTE:
7/83
• 10
10
MI1MUIIIIIIIIINIIMIIIIIIIIII IIIIII1IIII
-12 -6
• 9
7
8
-1
0
I I I I I I I I I I I I I I I I I I i I I I I I I M I I I 1 I I I)I 1 I I I I I I I I
-12
-6
0 +6
+12 +18 +24 +30
Months from specific troughs
For an explanation of these charts, see "How to Read Charts" on p. 106 of this issue.
107
G. Experimental Data and Analyses—Continued
Cyclical Comparisons: Current and Selected Historical Patterns-Continued
j1111M n11ITT111111111111111111111rir11111 II
30. Change in business inventories,
1972 dollars
I
[
QRTRS.
FROM
REF.
TROUGH
Actual
data
Ml
-1
CURRENT QRTR
ACTUAL
AND
DATA
YEAR
1111(11 TilTil 111111III II11111 JIT 11!1111
Devi-
30. Change in business inventories,
1972 dollars
SERIES 30
ANN. RATE
BIL. DOL.
-6.4 111/82
ations
frcm
Actual
data
for
specific
troughs
current
cycle
Actual
-
+ 35
-24.6
(JO
IV/82
-16.5
1/83
-6.1 11/83
0.9 111/83
7.2
IV/83
+ 30
31.6
21.5
+ 25
1/84
11/84
QRTRS.
DEVIFROM ATIONS CURRENT QRTR.
FROM
AND
ACTUAL
SPEC.
IV/82
TEAR
TROUGH
DATA
+20
+ 15
-1
SERIES 30
ANN. RATE
BIL. DOL.
18.2
-6.4 111/82
+10
+5
0.
-24.6
IV/82
8.1
18.5
25.5
31.8
-16.5
-6.1
0.9
7.2
1/83
11/83
111/83
IV/83
56.2
46.1
31.6
21.5
1/84
11/84
-5
-10
-t5
-20
-
1
-25
Deviations
from
50. GNP in 1972 dollars
DEVIQRTRS.
FROM ATIONS CURRENT QRTR.
AND
ACTUAL
REF.
FROM
TROUGH 111/81
YEAR
DATA
reference
peaks
Actual
data
Percent
+15
1.725
+10
• 1.675
M.625
+5
•
0
1.575
•1.525
> 1.475
-I
-12
-6
0
+6
+12
+18
+24
-5
SERIES 50
ANN. RATE
BIL. DOL.
-3.0
1477.1 111/82
for
current
cycle
-2.8
1
2
3
4
-2.0
0.2
1.8
3.3
5.8
7.8
1478.8
1491.0
1550.2
1572.7
IIJ/83
IV/83
1610.9
1640.2
1/84
11/84
DEVIQRTRS.
FROM ATIONS CURRENT QRTR.
FROM
SFEC.
AND
ACTUAL
TROUGH 111/82
DATA
YEAR
SERIES 50
ANN. RATE
BIL. DOL.
0.
1477.1 111/82
0.1
0.9
3.2
4.9
6.5
9.1
11.0
- 5
1478.8
IV/82
1491.0
1/83
1524.8 11/83
1550.2 111/83
1572.7
1610.9
1640.2
+30
NOTE: For an oxplanation of these charts* see "How to Read Charts" on p. 106 of this issue.
108
1/83
1524.8 H/83
Months from reference troughs
IV/82
-J
IV/83
1/84
11/84
-12 - 6
Months from specific troughs
0
G. Experimental Data and Analyses—Continued
Cyclical Comparisons: Current and Selected Historical Patterns-Continued
1111 M I I I 1 1 1 1 I I 1 1 1 1 1 1 1 1 1 1 1 1 1 1 I I 1 1 1 1 1 I I I ITT I
Deviations
from
reference
peaks
910. Composite index of 12 leading
indicators
I
Actual
data
for
current
cycle
Percent
MONTHS
DEVIPROM ATIONS CURRENT MONTH
FR*0M ACTUAL
AND
7/81
YEAR
DATA
•
8
10.7
158.2
7/83
9
10
11
12
11.2
12.1
13.7
13.8
158.9
160.2
162.5
162.6
8/83
9/83
10/83
11/83
13
14
15
16
14.4
15.3
16.9
17.2
163.5
164.7
167.0
167.5
12/83
1/84
2/84
3/84
17
18
19
17.8
18,2
17.1
168.3
168.9
167.4
4/84
5/84
6/84
170
+15
160
+10
+5
•
DeviActual
ations
data
from
for
specific current
troughs cycle
910. Composite index of 12 leading
indicators
SERIES 9 1 0
1967=100
+25
+ 20
I T l 1 1 1 1 M I I I I I I j 1 1 1 I I I I 1 1 1 1 1 11 11 11 11 11 11 M I 11
150
M70
-
25
MONTHS
DEVIFROM ATIONS CURRENT MONTH
SPEC.
FROM
ACTUAL
AND
TROUGH
3/82
DATA
YEAR
-
•
140
130
-10
1975
-15
•
120
17
18
19
20
18.0
18.9
20.6
20.7
15 8.9
16 0 . 2
16 2 . 5
16 2 . 6
8/83
9/83
10/83
11/83
21
22
23
24
21.4
22.3
24.0
24.4
163.5
16 4 . 7
16 7 . 0
16 7 . 5
12/83
1/84
2/84
3/84
25
26
27
24.9
25.4
24.3
16 8 . 3
16 8 . 9
16 7 . 4
4/84
5/84
6/84
-
15
-
10
-
•
160
#155
•
150
•
145
•
140
5
MONTHS
DEVIFROM ATIONS CURRENT MONTH
REF.
FROM
ACTUAL
AND
TROUGH
7/81
DATA
YEAR
-20
165
20
SERIES 910
1967=100
•
•
» 135
-I o
SERIES 9 2 0
1967-100
920. Composite index of 4 coincident
indicators
8
-4.7
140.7
7/83
9
-4.6
-3.0
-2.0
-1.3
140.8
143.2
144.7
145.7
8/83
9/83
10/83
11/83
13
14
15
16
-0.2
1.2
2.0
2.3
147.3
149.4
150.6
151.0
12/83
1/84
2/84
3/84
17
18
19
3.4
4.3
5.0
152.6
153.9
155.0
4/84
5/84
6/84
10
11
12
Percent
+ 15
•
165
+10
920. Composite index of 4 coincident
indicators
•
+5
©155
MONTHS
DEVIFROM ATIONS CURRENT MONTH
SPEC.
FROM
ACTUAL
AND
TROUGH
12/82
DATA
YEAR
155
• 150
SERIES 9 2 0
•
145
-5
•
135
-10
-
•I.UMI
-12
-6
Mil,,,.,!,,,..I
1
I
"15 ©125
1967-100
7
8
6.1
6.2
9
10
11
12
8.0
9.1
9.9
11.1
13
14
15
16
12.7
13.6
13.9
15.1
14 9.4
150.6
151.0
152.6
1/84
2/84
3/84
4/84
17
18
16.1
16.9
153.9
155.0
5/84
6/84
140.7
140.8
143.2 9/83
144.7 10/83
145.7 11/83
147.3 12/83
0 + 6 +12 +18 +24 +30
Months.from reference troughs
NOTE:
-
7/83
8/83
10
•
145
•
135
- 5
12/82
-J
0
n 11 I I I I 11 n 1111 it itif111111111 I I 111111 li 1111
-12
-6
0 + 6 +12 +18 +24 +30
Months from specific troughs
For an explanation of these charts, see "How to Read Charts" on p, 106 of this issue.
109
ALPHABETICAL INDEX—SERIES FINDING GUIDE
Series title
(See complete titles in "Titles and
Sources of Sories," following this index)
Accession rate, manufacturing
Agricultural products, export?
Anticipations and intentions
Business expenditures, new plant and
Business expenditures, new plant and
Consumer sentiment, index
Employees, manufacturing and trade,
Inventories, manufacturing and trade,
New orders, manufacturing Dl
Prices, manufacturing, Dl
Prices, retail trade, Dl
Prices, wholesale trade, Dl
Profits, manufacturing and trade, Dl
Sales, manufacturing and trade, Dl..
Automobiles
Imports of automobiles and parts
Personal consumption expenditures
2
604
equipment
equipment, D l .
Dl....
Dl
B
Balance of payments—See International transactions.
Bank loans—See Business Loans.
Bank rates—See Interest rates.
Bank reserves
Free reserves
Member bank borrowing from the Federal Reserve
Bonds—See Interest rates!
Borrowing—See Credit.
Budget—See Government.
Building—See Construction.
Building permits, new private housing
Business equipment, industrial production
Business expenditures, new plant and equipment
Business expenditures, new plant and equipment, Dl
Business failures, current liabilities
Business formation, index
Business incorporations,..
Business inventories—See Inventories.
Business loans
Loans outstanding, constant dollars
Loans outstanding, current dollars
,
Loans outstanding, net change
Business saving
,
,
Canada—See International comparisons,
Capacity utilization
Manufacturing (BEA)
Manufacturing (FRB)
Materials
Capital appropriations, manufacturing
Backlog
Newly approved
Newly approved, Dl .
Capital equipment, producer price index
Capital investment' See Investment, capital.
Capital investment commit'nent'S, Cl
Cash flow, corporate, constant dollars
Cash flow, corporate, current dollars
Civilian labor force -See also Employment.
Employment
Employment as percent of population
Total labor force
Unemployed
Coincident indicators, four
Composite mdra
Composite inde;;, rate ol change
..
Diffusion index
Ratio to lagging indicators, composite index, ...
Commercial and industrial buildings, contracts awarded,.
Commercial and industrial loan:
Loans outstanding, constant dollars
Loans outstanding, current dollars
Loans outstanding, net change
Compensation—See also Income.
Compensation, average hourly, nonfarm
business sector
Compensation ol employees, NIPA
Compensation ol employees, percent of
national income
Compensation, real average hourly, nonfarm
business sector
Earnings, average hourly, production workers,
private nonfarm economy
Earnings, real average hourly, production workers,
private nonfarm economy
Wage and benefit decisions, first year
Wage and benefit decisions, life of contract
Wages and salares in mining, manufacturing,
and construction
,
Composite indexes
Coincident indicators
Four coincides, index
Four eomciders, rate ot change
Ratio to lagging indicator index
Lagging indicators
Six laggers, index
Six laggers, rate of change
Leading indicators
Capital investment commitments
Inventory investment and purchasing
Marginal employment adjustments
Money and financial flows
See notes at end of index.
110
Current issue
Series (paee numbers)
number Charts Tables
Historical
data
(issue date)
Series
description
8/81
1/83
18
64
61
970
58
974
975
971
976
978
977
972
973
24
38
22
38
38
38
38
38
38
38
38
67
76
65
76
76
76
76
76
76
76
76
12/83
12/83
1/84
5/83
5/83
5/83
5/83
5/83
5/83
5/83
5/83
34
34
31
48
48
48
48
49
616
55
56
22
92
65
1/83
8/83
64
50
93
6/83
6/83
94
33
33
29
76
61
970
14
12
13
13,25
24
24
38
33
12,23
23
101
72
112
295
15,35
73
35 73
32 72
46 82
67
67
67
76
72
65
65
7/84
12/82
12/83
12/83
5/83
2/83
5/83
45
45
35
24
34
34
44
32
32
6/84
6/84
6/84
11/83
43
43
37
83
82
84
20
20
20
64
64
64
12/83
8/83
8/83
25
25
25
97
11
965
333
24
24
37
48
66
66
75
86
12/83
12/83
12/83
3/84
33
33
33
914
35
34
11
29
29
60
70
70
7/84
8/83
8/83
15
37
37
442
90
441
37
51
17
51
18,51
89
62
89
62,89
2/84
2/84
2/84
2/84
20
20
20
20
920
920c
951
940
9
10
39
36
11
23
60
'74*
60
66
1/84
1/84
2/83
7/84
12/83
'is
101
72
112
15,35
35
32
73
73
72
6/84
6/84
6/84
43
43
345
280
49
45
87
82
12/83
11/83
56
56
15
15
32
64
30,47
70,83
9/83
56
346
49
88
12/83
56
340
49
87
9/83
15
341
348
349
49
50
50
87
88
88
9/83
12/83
12/83
15
62
62
53
19
63
5/84
22
920
920c
940
10
39
11
930
930c
914
915
913
917
10
39
60
1/84
1/84
15
a
11
60
60
11
60
7/84
7/84
2/83.
7/84
15
15
15
15
60
'60*
1/84
1/84
7/84
15
"is
Scries title
(See complete titles in "Titles and
Sources of Series," following this index)
Profitability
Twelve leaders, index
Twelve leaders, rate of change
Construction
Building permits, new private housing
Contracts awarded, commercial and
industrial buildings
Expenditures, plus machinery and equipment sales...
Gross private domestic fixed investment
Nonresidential, percent of GNP
Presidential structures, constant dollars
Nonresidential, total, constant dollars
Residential, percent of GNP
Residential, total, constant dollars
Housing starts
Consumer finished goods, producer price index
Consumer goods and materials, new orders
Consumer goods, industrial production
Consumer installment credit
Credit outstanding
Net change
Ratio to personal income
Consumer installment loans, delinquency rate
Consumer prices—See also International comparisons.
All items
food
Consumer sentiment, index
Consumption expenditures—See Personal
consumption expenditures.
Contract awards, Defense Department
Contracts and orders, plant and equipment,
constant dollars
Contracts and orders, plant ind equipment,
current dollars
Corporate bond yields
Corporate profits—See Profits.
Costs—See Labor costs and Price indexes.
Credit
Borrowing, total private
Business loans
Loans outstanding, constant dollars
Loans outstanding, current dollars
Loans outstanding, net change
Consumer installment credit
Credit outstanding.
Net change.,
Ratio to personal income
Consumer installment loans, delinquency rate. .
Credit outstanding, percent change.
Mortgage debt, net change.
. .
Crude and intermediate materials, change in
producer prices
Crude materials, producer price index
Debt-See Credit.
Defense and space equipment, output
Defense Department
Gross obligations incurred
Gross unpaid obligations
Net outlays
Personnel, civilian
Personnel, military
Prime contract awards
Defense products
Inventories, manufacturers'
New orders, manufacturers'
Shipments, manufacturers'
Unfilled orders, manufacturers'
Defense products industries, employment
Defense purchases, goods and services, NIPA
Defense purchases, percent o\ GNP
Deficit—See Government.
Deflators—See Price indexes.
Delinquency rate, consumer installment loans
Deliveries, vendor performance
Diffusion indexes
Business expenditures, new plant and equipment
Capital appropriations, manufacturing
Coincident indicators
Employees, manufacturing and trade
Employees on private nonagricultural payrolls
Industrial production
Industrial production, components
Initial claims, State unemployment insurance
Inventories, manufacturing and trade
Lagging indicators
Leading indicators
New orders, durable goods industries
New orders, durable goods industries, components..
New orders, manufacturing
Profits, manufacturing
Profits, manufacturing and trade
Raw industrials, spot market prices
Raw industrials, spot market prices, components ....
Sales, manufacturing and trade
Selling prices, manufacturing
Selling prices, retail trade
Selling prices, wholesale trade
Stock prices, 500 common stocks
Workweek, manufacturing production workers
Workweek, manufacturing production workers,
components
Disposable personal income—See income.
UUI PCIIl FJJUt
Series (page numbers)
lumber Charts Tables
Historical
data
(issue date)
Series
description
C)
7/84
1/84
1/84
15
15
67
7/84
35
66
67
12/83
6/84
32
28
47
25
25
47
25
25
48
12,21
22
83
67
67
83
67
67
86
64
65
11/83
8/83
8/83
11/83
8/83
4/84
3/84
4/84
12/82
51
51
51
51
51
35
60
26
24
66
113
95
39
35
32
15,35
33
73
72
73
72
6/84
6/84
11/83
11/83
43
43
43
45
320
322
58
49
49
22
84,95
84
65
4/84
4/84
1/84
59
59
31
525
53
90
4/83
64
20
12,23
66
6/84
32
10
116
23
34
66
73
6/84
8/83
32
46
110
32
72
12/83
44
101
72
112
15,35
35
32
73
73
72
6/84
6/84
6/84
'43*
43
66
113
95
39
111
33
35
32
15,35
33
13,32
32
73
72
73
72
72
71
6/84
6/84
11/83
11/83
6/84
5/84
98
331
28
48
69
85
3/84
3/84
557
54
916
910
910c
11
10
39
60
60
29
13,25
9
69
23
24
248
87
86
249
89
28
334
8
75
43
43
43
45
42
*66"
7/82
517
543
580
578
577
525
53
53
54
55
55°
53
90
90
91
91
91
90
1/84
4/83
7/83
1/84
1/84
4/83
559
548
588
561
570
564
565
54
53
54
54
55
55
55
91
90
91
91
91
91
91
6/84
6/84
6/84
6/84
7/84
11/83
11/83
39
33
32 12,21
72
64
11/83
5/83
45
28
34
33
15
48
15
24
18'
48
15
15
26
971
960
972
967
37
38
37
973
976
978
977
968
961
38
38
38
38
37
36
76
75
74
76
74
75
78
74
76
74
74
75
77
76
75
76
75
79
76
76
76
76
75
74
12/83
12/83
2/83
5/83
7/84
7/82
962
975
952
950
964
38
37
36
38
36
37
36'
38
36
36
37
970
965
951
974
963
966
5/83
5/83
2/83
2/83
6/84
5/83
12/83
5/83
6/83
5/83
5/83
5/83
5/83
6/83
7/84
64
26"
48
36
48"
48
49
48
36
15
ALPHABETICAL INDEX—SERIES FINDING GUIDE—Continued
Series title
(See complete titles in "Titles and
Sources of Series," following this index)
Series
number
Charts
Tables
Historical
data
(issue date)
E
Earnings—See Compensation.
Employment and unemployment
Accession rate, manufacturing
Civilian labor force, total
Defense Department personnel, civilian
Defense Department personnel, military
Employee-hours in nonagricultural establishments
Rate of change
Total
Employees in mining, manufacturing,
and construction
Employees, manufacturing and trade, Dl
Employees on nonagricultural payrolls
Employees on private nonagricultural payrolls, Dl
Employment in defense products industries
Employment, ratio to population
Employment, total civilian
Help-wanted advertising in newspapers
Help-wanted advertising, ratio to unemployment
Initial claims, State unemployment insurance
Initial claims, State unemployment insurance, Dl
Layoff rate, manufacturing
Marginal employment adjustments, Cl
Overtime hours, manufacturing production workers
Participation rate, both sexes, 16-19 years old
Participation rate, females 20 years and over
Participation rate, males 20 years and over
Part-time workers for economic reasons
Persons engaged in nonagricultural activities
Quit rate, manufacturing
Unemployed, both sexes, 16-19 years old
Unemployed, females 20 years and over
Unemployed, full-time workers
Unemployed, males 20 years and over
Unemployment, average duration
Unemployment rate, 15 weeks and over
Unemployment rate, insured, average weekly
Unemployment rate, total
Unemployment, total civilian
Workweek, manufacturing production workers
Workweek, manufacturing production workers,
components
Workweek, manufacturing production workers, Dl
Equipment—See Investment, capital.
Exports—See International transactions.
2
441
578
577
51
55
55
48c
39
48
40
974
41
963
570
90
442
46
60
5
962
3
913
21
453
452
451
448
42
4
446
445
447
444
91
44
45
43
37
1
51
51
51
51
15,18
18
18
18
18,51
12,16
89
89
89
89
62
62
62
62
62,89
61
7/84
5/83
7/84
7/84
7/84
2/84
2/84
2/84
2/84
5/83
5/83
8/81
2/83
7/84
2/84
2/84
2/84
2/84
2/84
8/81
2/84
2/84
2/84
2/84
2/84
2/84
4/84
2/84
2/84
7/84
961
36
77
74
7/84
89
91
91
8/81
2/84
1/84
1/84
17
61
5/84
5/84
17
38
14,17
36
55
17
51
16
16
12,16
36
62
76
62
74
91
62
89
61
61
61
74
16
51
51
51
51
17
61
89
89
89
89
62
18
20
15
48
15
15
20
20
19
19
18
18
18
15
15
20
20
20
20
20
18
20
20
20
20
20
20
18
20
20
15
119
34
72
10/83
94
213
917
33
40
11
72
80
60
6/83
10/83
7/84
311
48
84
8/83
93
33
72
6/83
49
20
63
8/83
45
49
15
Implicit price deflator, GNP
Imports—See International transactions.
Income
Compensation, average hourly, nonfarm
business sector
Compensation of employees
Compensation of employees, percent of
national income
Compensation, real average hourly, nonfarm
business sector
.
.
.
Consumer installment credit, ratio to personal income
Corporate profits with IVA and CCAdj
. . .
Corporate profits with IVA and CCAdj, percent
of national income
. . .
Disposable personal income, constant dollars
Disposable personal income, current dollars
Disposable personal income, per capita,
constant dollars
Earnings, average hourly, production workers,
private nonfarm economy
.
Earnings, real average hourly, production workers,
private nonfarm economy
Income on foreign investments in the United States
Income on U.S. investments abroad
lnterest,net
Interest, net, percent of national income
National income
. .
.
Personal income, constant dollars
Personal income, current dollars
.
.
Personal income, less transfer payments, constant dollars
Rate of change
Current issue
(PaEe "umbers)
Charts Tables
21
16
12,16
961
28
29
36
249
25
13,25
25
47
67
67
67
83
4/84
7/84
8/83
11/83
310
48
84
8/83
345
280
49
45
87
82
56
52
52
52
52
52
52
46
90
90
90
90
90
90
83
10/83
10/83
10/83
10/83
10/83
10/83
11/83
62
62
62
62
62
62
58
263
262
265
564
565
267
266
268
261
260
43
43
47
55
55
43
43
47
43
43
81
81
83
91
91
81
81
83
81
81
11/83
11/83
11/83
11/83
11/83
11/83
11/83
11/83
11/83
11/83
53
53
53
53
311
68
48
30
84
70
8/83
8/83
58
39
50
50b
50c
200
200b
200c
107
49
310
217
19,40
....
39
40
....
....
31
20
48
40
63,80
80
80
80
80
80
71
63
84
80
10/83
10/83
10/83
10/83
10/83
10/83
9/83
8/83
8/83
10/83
49
49
49
49
49
49
40
25
49
49
2/84
2/84
19
19
61
61
7/84
35
35
51
51
53
53
53
53
53
64
30,47
70,83
346
95
286
49
15,35
45
88
73
82
12/83
11/83
11/83
56
43
37
287
225
224
47
40
40
83
80
80
11/83
10/83
10/83
37
22
22
227
40
80
10/83
340
49
87
9/83
341
652
651
288
289
220
52
223
49
57
57
45
47
45
19
40
87
93
93
82
83
82
63
63
9/83
8/83
8/83
11/83
11/83
10/83
8/83
8/83
15
65
65
57
57
55
22
22
108
282
31
45
71
82
8/83
8/83
5/84
11/83
22
40
56
283
284
47
45
83
82
11/83
11/83
56
57
285
348
349
47
50
50
83
88
88
11/83
12/83
12/83
57
62
62
53
13
335
19
23
48
63
65
85
5/84
5/83
3/84
22
32
76
75
73
74
24
22
20
20
67
65
63
63
12/82
12/82
12/82
12/82
12/83
24
24
24
24
24
7/82
12/83
24
51c
39
14,19 63
78
Total, rate of change.
Industrials, raw, spot market prices
Components
Diffusion index....
.
Spot market index
. . .
Installment credit-See Credit.
Insured unemployment
Average weekly initial claims
Average weekly initial claims, Dl
Average weekly insured unemployment rate
Interest, net....
Interest, net, percent of national income
Interest rates
Bank rates on short-term business loans
Corporate bond yields
Federal funds rate
Mortgage yields, secondary market
Municipal bond yields
Prime rate charged by banks ,.
Treasury bill rate
.
.
Treasury bond yields
....
Intermediate materiajs, producer price index
International comparisons
Consumer prices
Canada
France
.
.
.
...
Italy
Japan
United Kingdom
United States
West Germany
Industrial production
Canada
.
France
Italy
Japan
OECD, European countries
United Kingdom .
United States
West Germany
56
56
12/83
11/83
9/83
47 14,20,58 63,94
Total, Dl
502
501
500
512
511
510
298
16
16
Series
description
(*)
7/84
7/84
Total, components
46
60
Historical
data
(issue date)
61
61
77
74
51
Personal income, ratio to money supply M2
Proprietors' income with IVA and CCAdj
Proprietors' income with IVA and CCAdj, percent
of national income
.
. . . .
Rental income of persons with CCAdj
Rental income of persons with CCAdj, percent
of national income
Wage and benefit decisions, first year
Wage and benefit decisions, life of contract
Wages and salaries in mining, manufacturing,
and construction
.
Incorporations, new businesses
.
.
Industrial commodities, producer price index
Industrial production—See also International comparisons.
Business equipment
.
Consumer goods
. . . .
Durable manufactures
Nondurable manufactures
Total
H
Help-wanted advertising in newspapers
Help-wanted advertising, ratio to unemployment
Hours of production workers, manufacturing
Average weekly overtime
Average workweek....
Average workweek, components
Average workweek, Dl
Housing
Housing starts
Housing units authorized by local building permits..
Residential GPDI, constant dollars
Residential GPDI, percent of GNP . .
Total
G
Goods output in constant dollars
Government budget, NIPA
Federal expenditures
Federal receipts
Federal surplus or deficit
State and local expenditures
State and local receipts
State and local surplus or deficit
Surplus or deficit, total
Government purchases of goods and services
Federal, constant dollars
Federal, current dollars
Federal, percent of GNP
National defense
National defense, percent of GNP
State and local, constant dollars
State and local, current dollars
State and local, percent of GNP
Total, constant dollars
Total, current dollars
Gross domestic business product, fixed-weighted
price index
Gross domestic product, labor cost per unit
Gross national product
GNP, constant dollars
GNP, constant dollars, differences
GNP, constant dollars, percent changes
GNP, current dollars
GNP, current dollars, differences
GNP, current dollars, percent changes
GNP, ratio to money supply Ml
Goods output in constant dollars
Implicit price deflator
Per capita GNP, constant dollars
Gross private domestic investment—See Investment, capital.
Series
number
"is
F
Federal funds rate
Federal Government—See Government.
Federal Reserve, member bank borrowing from
Final sales in constant dollars
Financial flows, Cl
Fixed investment—See Investment, capital.
Fixed-weighted price index, gross domestic
business product
Food—See Consumer prices.
Foreign trade—See international transactions.
France—See International comparisons.
Free reserves
Series title
(See complete titles in "Titles and
Sources of Series," following this index)
Series
description
(*)
.
. . . .
.
.
.
.
966
37
47c
39
75
967
23
37
28
79
75
69
6/83
6/83
36
36
5
962
45
288
289
12,16
36
18
45
47
61
74
62
82
83
5/83
5/83
4/84
11/83
11/83
18
18
18
57
57
67
116
119
118
117
109
114
115
332
35
34
34
34
34
35
34
34
48
73
73
72
73
73
73
72
73
86
12/83
8/83
10/83
10/83
10/83
7/83
8/83
8/83
3/84
46
46
46
46
46
46
46
46
60
733
736
59
59
96
95
737
59
96
738
732
320
735
59
59
49
59
95
95
84,95
95
4/84
4/84
4/84
4/84
4/84
4/84
4/84
68
68
69
69
68
59
68
723
726
727
728
721
722
47
725
58
58
58
58
58
58
14,20,58
58
94
94
94
94
94
94
63,94
94
5/84
5/84
5/84
5/84
5/84
5/84
12/83
5/84
66
66
66
66
66
66
24
66
See notes at end of index.
111
ALPHABETICAL INDEX—SERIES FINDING GUIDE—Continued
Series title
(See complete titles in "Titles and
Sources of Series," following this index)
Stock prices
Canada
France
Italy
Japan
United Kingdom..
United States. ......
West Germany
International transactions
Balance on goods and services
Balance on merchandise trade
Exports, merchandise, adjusted, excluding military
Exports, merchandise, total excluding military aid
Exports of domestic agricultural products
Exports of goods and services, constant dollars, NIPA..
Exports of goods and services, current dollars, NIPA
Exports of goods and services, excluding military
Exports of nonelectrical machinery
Imports, merchandise, adjusted, excluding military
Imports, merchandise, total
Imports of automobiles and parts
Imports of goods and services, constant dollars, NIPA..
Imports of goods and sendees, current dollars, NIPA ....
Imports of good;; and services, total
Imports of petroleum and products
Income on foreign investments in the United States
Income on U.S. investments abroad
Net exports of goods and services,
constant dollars, NIPA
Net exports of goods and services,
current dollars, NIPA .,
Net exports of goods and services, percent of GNP
Inventories
Business inventories, change, constant dollars, NIPA ....
Business inventories, change, current dollars, NIPA
Business inventories, change, percent ol GNP
Defense product!), manufacturers'
Finished goods, manufacturers'
Inventories on hnnd and on older, net change
Inventories to sales ratio, manufacturing and trade
Inventory investment and purchasing, Cl
Manufacturing and trade, book value
Manufacturing and trade, change in book value
Manufacturing and trade, constant dollars
Manufacturing and trade, Dl...
Materials and supplies on hand and on order,
manufacturing
,
Materials and supplies on hand and on order,
manufacturing,'change
Investment, capital
Capital appropriations, manufacturing, backlog
Capital appropriations, manufacturing, new
Capital appropriations, manufacturing, new, D l . . .
Capital investment commitments, Cl
Construction contracts, commercial and industrial..
Construction expenditures, business, plus machinery
and equipment sales
Gross private domestic investment
Business inventories, change—See Inventories.
Fixed jnveslmi'nt, constant dollars
Fixed investment, current (Hollars
Presidential, constant dollars
Nonresidential, percent of GNP
Producers' durable equipment, nonresidential,
constant dollars
Residential, constant dollars
Residential, percent of GNP
Structures, nonresidential, constant dollars
Total, constant dollars
Total, current dollars
New orders, capital goods, nondefense,
constant dollars
New orders, capital goods, nondefense,
current dollars
Plant and equipment
Business expenditures, new
Business expenditures, new, Dl
Contracts and orders, constant dollars
Contracts and orders, current dollars
Investment, foreign
Income on foreign investments in the United States
Income on U.S. investments abroad
Italy—See International comparisons.
Current issue
Series (page numbers)
number Charts Tables
Historical
data
(issue date)
Series
description
C)
743
746
747
748
742
19
745
59
59
59
59
59
59
59
96
96
96
96
96
96
96
1/84
1/84
1/84
1/84
1/84
1/84
1/84
70
70
70
70
70
36
70
667
622
618
602
604
256
252
668
606
620
612
616
257
253
669
614
652
651
57
57
57
56
56
44
44
57
56
57
56
56
44
44
57
56
57
57
93
93
93
92
92
82
82
93
92
93
92
92
82
82
93
92
93
93
8/83
8/83
8/83
5/82
1/83
11/83
11/83
8/83
1/83
8/83
5/82
1/83
11/83
11/83
8/83
1/83
8/83
8/83
65
65
65
64
64
54
54
65
64
65
64
64
54
54
65
64
65
65
255
44
250
251
30
245
247
559
65
36
77
915
71
31
70
975
44
47
26,42
42
47
54
27
13,26
15,27
11
27
26
27
38
82
83
11/83
11/83
54
54
68,81
81
83
91
68
68
68
60
68
68
68
76
8/83
11/83
11/83
6/84
6/84
4/84
9/83
7/84
9/83
9/83
9/83
5/83
51
51
51
28"
28
28
15
28
28
28
48
78
27
68
6/84
97
11
965
914
9
24
24
37
11
23
66
66
75
60
66
12/83
12/83
12/83
7/84
12/83
33
33
33
15
32
69
24
67
6/84
28
243
242
36
248
42
42
25
47
81
81
67
83
11/83
10/83
8/83
U/83
51
51
51
51
88
89
249
87
241
240
25
25
47
25
42
42
67
67
83
67
81
81
8/83
8/83
11/83
8/83
10/83
10/83
51
51
51
51
51
51
11/83
6/84
6/84
6/84
61
970
20
10
24
38
12,23
23
67
76
66
66
12/83
12/83
6/84
6/84
34
34
32
32
652
651
57
57
93
93
8/83
8/83
65
65
Japan—See International comparisons.
Labor cost per unit cl gross domestic product
Labor cost per unit of output, manufacturing
Actual data
Actual data as percent of trend
Labor cost per unit of output, private business sector..
Labor cost, price per unit of, nonfarm business
Labor force—See Employment.
Lagging indicators, six
Composite index
..,..
Composite index, rate of change
Diffusion index
Layoff rate, manufacturing
Leading indicators, twelve
Composite index
Composite index, rate of change
See notes at end of index.
112
68
62
62
63
26
30
30
15
30
29
70
70
70
70
70
930
930c
952
3
10
39
36
60
910
910c
10
39
8/83
11/83
11/83
9/83
9/83
'74'
1/84
1/84
2/83
8/81
60
1/84
1/84
39
39
39
15
'1i8s
15
c pri p- M I .
(See complete titles in "Titles and
Sources of Series," following this index)
Current issue
Series
tW^")
number Charts Tables
Diffusion index
Liabilities of business failures
Liquid assets, change in total
loans-See Credit.
950
14
104
36
33
31
74
72
71
Historical
data
(issue date)
2/83
5/83
5/84
Series
description
(•)
15
44
40
M
Man-hours—See Employment.
Marginal employment adjustments, Cl
Materials and supplies on hand and on order,
manufacturing
Materials and supplies on hand and on order,
manufacturing, change
Materials, new orders for consumer goods and
Materials prices-See Price indexes.
Materials, rate of capacity utilization
Merchandise trade-See International transactions.
Military-See Defense.
Money and financial flows, Cl
Money supply
Liquid assets, change in total
Money supply M l , constant dollars
. .
Money supply M l , percent changes
Money supply M2, constant dollars
Money supply M2, percent changes
Ratio, GNP to money supply Ml
Ratio, personal income to money supply M2
Mortgage debt, net change
Mortgage yields, secondary market
Municipal bond yields
N
National defense-See Defense.
National Government-See Government,
National income—Sete Income.
New orders, manufacturers'
Capital goods industries, nondefense,
constant dollars
Capital goods industries, nondefense, current dollars
Consumer goods and materials, constant dollars
Contracts and orders, plant and equipment,
constant dollars
Contracts and orders, plant and equipment,
current dollars
Defense products
Durable goods industries, constant dollars
Durable goods industries, current dollars
Components
Diffusion index
New orders, manufacturing, Dl
.
Presidential fixed investment, GPDI
Producers' durable equipment, constant dollars
Structures, constant dollars
Total, constant dollars
Total, percent of GNP..
0
Obligations incurred, Defense Department
Obligations unpaid, Defense Department
OECD, European countries, industrial production
Orders-See Mew orders and Unfilled orders.
Outlays, Defense Department
Output—See also Gross nation;! product and
Industrial production.
Defense and space equipment, output
Goods output, constant dollars
Labor cost per unit of
Actual data
;
Actual data as percent of trend
Per hour, nonfarm business sector
Per hour, private business sector
Ratio to capacity, manufacturing (BEA)
Ratio to capacity, manufacturing (FRB)
Ratio to capacity, materials
Overtime hours, manufacturing production workers
P
Participation rates, civilian labor force
Both sexes, 16-19 years of age
Females 20 years and over
Males 20 years and over
Personal consumption expenditures
Automobiles
(
Durable goods, constant dollars
Durable goods, current dollars
Nondurable goods, constant dollars
Nondurable goods, current dollars
Services, constant dollars
Services, current dollars
Total, constant dollars
Total, current dollars
Total, percent of GNP
Personal income—See Income.
Personal saving
Personal saving rate
Petroleum and products, imports
Plant and equipment—See also Investment, capital.
Business expenditures, new
Business expenditures, new, Dl
Contracts and orders, constant dollars
Contracts and orders, current dollars
Population, civilian employment ;is percent of
..
913
....
2/83
15
78
27
6/84
28
28
26
38
26
8 12,21
68
64
6/84
4/84
84
20
64
8/83
917
11
60
104
31
71
40
40
40
40
40
40
40
42
46
46
105 31
85
31
106 13,31
102 31
107 31
108 31
33
32
118 34
117 34
71
71
71
71
71
71
71
73
73
7/84
5/84
5/84
5/84
5/84
5/84
9/83
5/84
5/84
10/83
10/83
27
23
24
23
8 12,21
66
66
64
6/84
6/84
4/84
26
26
26
20 12,23
66
6/84
32
10
548
7
6
23
53
21
21
6/84
6/84
6/84
6/84
32
26
26
26
964
971
37
38
66
90
64
64
77
75
76
6/84
5/83
26
48
88
87
86
248
25
25
25
47
67
67
67
83
8/83
8/83
8/83
11/83
51
51
51
51
517
543
721
53
53
58
90
90
94
1/84
4/83
5/84
66
580
54
91
7/83
557
49
54
20
91
63
7/82
8/83
25
62
62
358
370
83
82
84
21
30
15
50
50
20
20
20
16
70
70
88
88
64
64
64
61
11/83
11/83
12/83
12/83
12/83
8/83
8/83
7/84
61
61
25
25
25
15
453
452
451
51
51
51
89
89
89
2/84
2/84
2/84
20
20
20
55
233
232
238
236
239
237
231
230
235
22
41
41
41
41
41
41
41
41
47
65
80
80
81
81
81
81
80
80
83
8/83
10/83
10/83
10/83
10/83
10/83
10/83
10/83
10/83
10/83
50
50
50
50
50
50
50
50
50
50
292
293
614
46
46
56
82
83
92
U/83
11/83
1/83
58
58
64
67
76
66
66
62
12/83
12/83
6/84
6/84
2/84
34
34
32
32
20
61
24
970 38
20 12,23
10
23
90
17
39
ALPHABETICAL INDEX—SERIES FINDING GUIDE—Continued
Series title
(See complete titles in "Titles and
Sources of Series," following this index)
Price indexes
Consumer prices—See also International comparisons,
Alt items
Food
Deflators, NIPA
Fixed-weighted, gross domestic business product
Implicit price deflator, GNP
.
Labor cost, price per unit of, nonfarm business
Producer prices
All commodities
Capital equipment
Crude materials
Finished consumer goods
Industrial commodities
Intermediate materials
Sensitive crude and intermediate materials
Raw industrials, spot market prices
Components
Diffusion index
Spot market index
Sensitive crude and intermediate materials, change
in producer prices
Sensitive materials prices, percent change
Stock prices—See also International comparisons.
500 common stocks
500 common stocks, Dl
Price to unit labor cost, nonfarm business
Prices, selling
Manufacturing, Dl
Retail trade, Dl
Wholesale trade, Dl
Prime contract awards, Defense Department
Prime rate charged by banks
Producer prices—See Price indexes.
Producers' durable equipment, nonresidential, GPDI
Production—See Gross national product and
Industrial production.
Productivity
Output per hour, nonfarm business sector
Output per hour, private business sector
Profitability, Cl
Profits
Corporate profits after taxes
Constant dollars
Current dollars,
With IVA and CCAdj, constant dollars.
With IVA and CCAdj, current dollars
Corporate profits, total
With IVA and CCAdj
With IVA and CCAdj, percent of national income .
Manufacturing and trade, Dl.
Manufacturing, Dl
Per dollar of sales, manufacturing.
Profitability, Cl
Ratio, profits to corporate domestic income,
Ratio, profits with IVA and CCAdj to corporate
domestic income.
Proprietors' income with IVA and CCAdj.
. ..
Proprietors' income with IVA and CCAdj, percent of
national income
Current issue
Series tpage numbers)
number Charts Tables
Historical
Series
data
(issue date)
description
(*)
84,95
84
4/84
4/84
59
59
311
310
26
84
84
70
8/83
8/83
9/83
58
49
330
333
331
334
335
332
85
86
85
3/84
3/84
3/84
3/84
3/84
3/84
3/84
59
60
60
60
36
36
Current issue
(page numbers)
number Charts Tables
Series
Historical
data
(issue date)
Series
description
(*)
S
320
322
49
49
48
48
28
37
28
79
75
69
6/83
6/83
28
13,28
69
69
3/84
3/84
19
968
26
13,28
37
29
69
75
70
1/84
6/83
9/83
36
36
976
38
38
38
53
35
76
76
76
90
73
5/83
5/83
5/83
4/83
7/83
48
49
48
64
46
967
23
978
977
525
109
8/83
358
370
916
50
50
11
12/83
12/83
7/84
61
61
15
18
16
28
28
29
29
8/83
8/83
8/83
8/83
37
37
37
37
286
287
972
960
15
916
22
45
47
38
37
29
11
29
82
83
76
75
70
60
69
11/83
11/83
5/83
12/83
5/83
7/84
8/83
37
37
48
81
282
29
45
70
82
8/83
11/83
37
56
283
47
Salaries—See Compensation,
Sales
Final sales, constant dollars.
Machinery and equipment sales and business
construction expenditures..
Manufacturing and trade sales, constant dollars.
Manufacturing and trade sales, current dollars.
Manufacturing and trade sales, Dl
Ratio, inventories to sales, manufacturing and trade.
Retail sales, constant dollars
Retail sales, current dollars
. .
Saving
Business saving
. ...
Government surplus or deficit .
Gross saving, private and government
Personal saving
.
Personal saving rate
Selling prices—See Prices, selling
Sensitive crude and intermediate materials, change
in producer prices
Sensitive materials prices, percent change
Shipments of defense products
Spot market prices, raw industrials
Components
.
. . .
Diffusion index
Spot market index.
State and local government—See Government,
Stock prices—See also International comparisons.
500 common stocks
500 common stocks, Dl.
.
Stocks of materials and supplies on hand and on order.
Stocks of materials and supplies on hand and on
order, change
Surplus—See Government.
Treasury bill rate
Treasury bond yields...
213
10/83
69
57
56
973
77
59
54
24
14,22
22
38
15,27
22
22
67
65
65
76
68
65
65
6/84
9/83
9/83
5/83
9/83
5/84
5/84
28
28
28
48
28
31
31
295
298
290
292
293
46
46
46
46
46
82
83
82
82
83
11/83
11/83
11/83
11/83
11/83
37
58
58
58
58
98
99
588
28
13,28
54
69
69
91
3/84
3/84
6/84
967
23
37'
28
79
75
69
6/83
6/83
36
36
19
968
78
13,28
37
27
69
75
68
1/84
6/83
6/84
36
36
28
6/84
114
115
34
34
72
73
8/83
8/83
46
46
91
60
5
962
3
15,18
16
12,16
36
62
61
61
74
2/84
2/84
5/83
5/83
8/81
20
19
18
18
18
446
445
447
444
37
4
51
51
51
51
18,51
89
89
89
89
62,89
2/84
2/84
2/84
2/84
2/84
8/81
20
20
20
20
20
18
44
45
43
18
18
18
62
62
62
2/84
4/84
2/84
20
18
20
561
96
25
54
21
21
91
64
6/84
6/84
6/84
26
26
107
31
31
12.21
71
71
64
9/83
5/84
5/83
40
40
28
12,16
61
77
74
7/84
15
7/84
15
U
38'
15
37
11/83
Quit rate, manufacturing....
Raw industrials, spot market prices
Components
Diffusion index
Spot market index
Rental income of persons with CCAdj ...
Rental income of persons with CCAdj, percent
of national income
Reserves, free
Residential fixed investment, constant dollars, GPDI.,
Residential fixed investment, percent of GNP
Residential structures—See Housing.
Retail sales, constant dollars
Retail sales, current dollars
Series title
(See complete titles in "Titles and
Sources of Series," following this index)
8/81
967
23
284
37
28
45
79
75
69
82
6/83
6/83
11/83
36
36
57
285
93
89
249
47
33
25
47
83
72
67
83
11/83
6/83
8/83
11/83
57
45
51
51
59
54
22
22
65
65
5/84
5/84
31
31
Unemployment
Duration of unemployment, average. .
Help-wanted advertising, ratio to unemployment
Initial claims for unemployment insurance
Initial claims for unemployment insurance, Dl .
Layoff rate, manufacturing . . . .
Number unemployed, civilian labor force
Both sexes, 16-19 years of age. . . .
Females 20 years and over
Fulltime workers
Males 20 years and over
Total unemployed
..
Quit rate, manufacturing.
Unemployment rates
15 weeks and over.. .
Insured unemployment. . .
Total
Unfilled orders, manufacturers'
Defense products..
.
Durable goods industries
Durable goods industries, change.
United Kingdom—See International comparisons.
Velocity of money
GNP to money supply Ml, ratio
Personal income to money supply M2, ratio
Vendor performance, slower deliveries
Wages and salaries—See Compensation.
West Germany—See International comparisons.
Wholesale (producer) prices—See Price indexes.
Workweek of manufacturing production workers
Average workweek
Components
Diffusion index
961
'36'
NOTE: CCAdj, capital consumption adjustment; Cl, composite index; Dl, diffusion index; GNP, gross national product; GPDI, gross private domestic investment; IVA, inventory valuation adjustment; NIPA, national income and product accounts.
* The number shown is the page of the Handbook of Cyclical Indicators (1977) on which the series description appears.
113
TITLES AND SOURCES OF SERIES
Series are listed below according to the sections of this report
in which they appear. Series numbers are for identification
only and do not reflect relationships or order among the
series. "M" following a series title indicates monthly data;
"Q" indicates quarterly data. Data apply to the whole period
except when indicated by "EOM" (end of month) or "EOQ"
(end of quarter).
To save space, the commonly used sources listed betow are
referred to by number:
Source 1—U.S. Department of Commerce, Bureau of
Economic Analysis; Source 2—U.S. Department of Commerce,
Bureau of the Census; Source 3—U.S. Department of Labor,
Bureau of Labor Statistics; Source 4—Board of Governors of
the Federal Reserve System.
Bureau of Economic Analysis (Used by permission.
This series may not be reproduced without written
permission from the source.)
(23,66)
10. Contracts and orders for plant and equipment in current
dollars (M).-Source 2 and McGraw-Hill Information
Systems Company; seasonal adjustment by Bureau of
the Census and Bureau of Economic Analysis (23,66)
11. Newly approved capital appropriations, 1,000
manufacturing corporations (Q).—The Conference
Board
(24,66)
12. Index of net business formation (M).-Source 1;
seasonal adjustment by Bureau of Economic Analysis
and National Bureau of Economic Research,
Inc.
(12,23,65)
Following the source for each series is an indication of the
pages on which that series appears. The "Series Finding
Guide" also lists chart and table page numbers for each
series.
13. Number of new business incorporations (M).-Dun &
Bradstreet, Inc.; seasonal adjustment by Bureau of
Economic Analysis and National Bureau of Economic
Research, Inc.
(23,65)
I-A. Composite Indexes
14. Current liabilities of business failures (M).-Oun &
Bradstreet, Inc.
(33,72)
910. Composite index of twelve leading indicators (includes
series 1, 5, 8, 12, 19, 20, 29, 32, 36, 99,106, 111)
(Nl).-Source 1
(10,39,60)
913. Composite index of marginal employment adjustments
(includes series 1, 2, 3, 5) (M).-Source 1
15. Profits (after taxes) per dollar of sales, all
manufacturing corporations (Q).—Federal Trade Commission; seasonal adjustment by Bureau of Economic Analysis
(29,70)
914. Composite index of capital investment commitments
(includes series 12, 20, 29) (M).-Source 1 (11,60)
16. Corporate profits after taxes in current dollars (Q).—
Source 1
(28,69)
915. Composite index of inventory investment and
purchasing (includes series 8, 32, 36, 99) (M).-Source
1
(H60)
916. Composite index of profitability (includes series 19,26,
18. Corporate profits after taxes in 1972 dollars ( Q ) . Source 1
(28,69)
33. Net change in mortgage debt held by financial
institutions and life insurance companies ( M ) . ~
American Council of Life Insurance; Federal National
Mortgage Association; U.S. Department of Housing and
Urban Development, Government National Mortgage
Association; National Association of Mutual Savings
Banks; U.S. Savings and Loan League; and source 4;
seasonal adjustment by Bureau of Economic
Analysis
(32,71)
34. Net cash flow, corporate, in current dollars (Q).-=
Source 1
(29,70)
35. Net cash flow, corporate, in 1972 dollars (Q).-Source
1
(29,70)
36. Net change in inventories on hand and en order in 1972
dollars (smoothed) (M).-Sources 1, 2, and 3(13,26,68)
37. Number of persons unemployed, labor force survey
(M).-Sources 2 and 3
(18,51,62,89)
38. Change in stocks of materials and supplies on hand and
on order, manufacturing (M).-Source 2
(26,68)
39. Percent of consumer installment loam delinquent 30
days and over (EOM).—American Bankers
Association
(33,72)
40. Number of employees in nonagricultural goodsproducing industries—mining, manufacturing, and
construction (M).-Source 3
(17,62)
41. Number of employees on nonagriculturat payrolls,
establishment survey (M).-Source 3
(14,17,62)
42. Number of persons engaged in nonagricultural activities,
labor force survey (M).-Sources 2 and 3
(17,62)
43. Unemployment rate, total (M).-Sourcas 2 and 3(18,62)
19. Index of stock prices, 500 common stocks (M).—
Standard & Poor's Corporation
(13,28,59,69,96)
44. Unemployment rate, persons unemployed 15 weeks and
over(M).-Sources2 and 3
(18,62)
917. Composite index of money and financial flows (includes
series 104, 106, 111) (M).-Source 1
(11,60)
20. Contracts and orders for plant and equipment in 1972
dollars (M)-Sources 1, 2, 3, and McGraw-Hill
Information Systems Company
(12,23,66)
45. Average weekly insured unemployment rate, State
programs (M).-U.S, Department of Labor, Employment
and Training Administration
(18,62)
920. Composite index of four roughly coincident indicators
(includes series 41, 47, 51, 57) (M).-Source
1
(10,39,60)
21. Average weekly overtime hours of production workers,
manufacturing (M).—Source 3
(16,61)
46. Index of help-wanted advertising in newspapers ( M ) . ~
The Conference Board
(16, 61)
930. Composite index
series 62, 77,
1
940. Ratio, coincident
ging composite
1
22. Ratio of profits (after taxes) to total corporate domestic
income (Q).-Source 1
(29,69)
47. Index of industrial production, total (M).-Source
4
(14,20,39,58,63,78,94)
48. Employee-hours in nonagricultural establishments
80) (M).-Source 1
(11,60)
of six lagging indicators (includes
91, 95, 101, 109) (M).-Source
(10,39,60)
composite index (series 920) to lagindex (series 930) (M).-Source
(11,60)
1-B. Cyclical Indicators
1. Average workweek of production workers,
manufacturing (M).-Source 3
(12,16,61,77)
2. Accession rate, manufacturing (M).-Source 3
3. Layoff rate, manufacturing (M).—Source 3
4. Quit rate, manufacturing (M).—Source 3
5. Average weekly initial claims for
insurance, State programs (M).-U.S.
Labor, Employment and Training
seasonal adjustment by Bureau
Analysis
unemployment
Department of
Administration;
of Economic
(12,16,61)
6. Value of manufacturers' new orders, durable goods
industries, in current dollars (M).-Source 2(21,64,77)
23. Index of spot market prices, raw industrial materials
(M).—Source; 3 and Commodity Research Bureau, Inc.
(Used by permission. Beginning with June 1981, this
series may not be reproduced without written permission
from Commodity Research Bureau, Inc.)
(28,69,79)
24. Value of manufacturer's new orders, capital goods
industries, nondefense, in current dollars (M), Source
2
(23,66)
25. Change in manufacturers' unfilled orders, durable goods
industries (1VI).—Source 2
(21,64)
26. Ratio, implicit price deflator to unit labor cost, nonfarm
business sector (Q).-Sources 1 and 3
(29,70)
27. Value of manufacturers' new orders, capital goods
industries, nondefense, in 1972 dollars (M).—Sources
1, 2, and 3
(23,66)
28. New private housing units started, total (M).-Source
2
(25,67)
29. Index of new private housing units authorized by local
building permits (M).-Source 2
(13,25,67)
7. Value of manufacturers' new orders, durable goods
industries, in 1972 dollars (M).-Sources 1, 2, and
3
(21,64)
8. Value of manufacturers' new orders for consumer goods
and materials in 1972 dollars (M).-Sources 1, 2, and
3
(12,21,64)
31. Change in book value of manufacturing and trade
inventories, total (M).-Sources 1 and 2
(26,68)
9. Construction contracts awarded for commercial and
industrial buildings, floor space (M).—McGraw-Hill
Information Systems Company; seasonal adjustment by
32. Vendor performance, percent of companies receiving
slower deliveries (M).-Purchasing Management
Association of Chicago
(12,21,64)
114
30. Gross private domestic investment, change in business
inventories, all industries, in 1972 dollars (Q).-Source
1^
(26,42,68,81)
(M).-Source 3
(17,39,61)
49. Value of goods output in 1972 dollar:; (Q).-Source
1
(20,63)
50. Gross national product in 1972 dollar; (Q).-Source
1
(19,39,40,63,80)
51. Personal income, less transfer payments, in 1972 dollars (M).-Source 1
(14,19,39,63)
52. Personal income, total, in 1972 dollars (M).-Source
1
(19,63)
53. Wage and salary income in mining, manufacturing, and
construction in 1972 dollars (M).-Sources 1 and
3
(19,63)
54. Sales of retail stores in current dollars (M).—Source
2
(22,65)
55. Personal consumption expenditures, automobiles (Q).=
Source 1
(22,65)
56. Manufacturing and trade sales in current dollars (M).—
Sources 1 and 2
(22,65)
57. Manufacturing and trade sales in 1972 dollars (M).—
Sources 1, 2, and 3
(14,22,65)
58. Index of consumer sentiment (Q,M).-University of
Michigan, Survey Research Center
(22,65)
59. Sales of retail stores in 1972 dollars (M).-Sources 1
2, and 3
(22,65)
TITLES AND SOURCES OF SERIES- Continued
60. Ratio, help-wanted advertising in newspapers (series
46) to number of persons unemployed (series 37)
(M).—Sources 1, 2, 3, and The Conference
Board
(16,61)
61. Business expenditures for new plant and equipment,
total (Q).-Source 1
(24 r 67)
62. Index of labor cost per unit of output, total
manufacturing—ratio, index of compensation of
employees in manufacturing (sum of wages, salaries,
and supplements to wages and salaries) to index of
industrial production, manufacturing (M).—Sources 1
and 4
(15,30,70)
63. Index of unit labor cost, private business sector (Q).—
Source 3
(30,70)
64. Compensation of employees as a percent of national
86. Gross private domestic fixed investment, total
nonresidential, in 1972 dollars (Q).—Source 1(25,67)
87. Gross private domestic fixed investment, nonresidential
structures, in 1972 dollars (Q).-Source 1
(25,67)
88. Gross private domestic fixed investment, nonresidential
producers' durable equipment, in 1972 dollars (Q).—
Source 1
(25,67)
960. Diffusion index of net profits, manufacturing—about
600 companies (Q).-Dun & Bradstreet, Inc. (Used by
permission. This series may not be reproduced without
written permission from the source.)
(35,75)
91. Average (mean) duration of unemployment in weeks
(M).-Sources 2 and 3
(15,18,62)
94. Member bank borrowings from the Federal Reserve
(M).-Source 4
(33,72)
66. Consumer installment credit (EOM).-Source 4
95. Ratio, consumer installment credit to personal income
(M).-Sources 1 and 4
(15,35,73)
67. Bank rates on short-term business loans (Q).—Source
(35,73)
68. Labor cost (current dollars) per unit of gross domestic
product (1972 dollars), nonfinancial corporations—ratio
of current-dollar compensation of employees to real
gross corporate product (Q).-Source 1
(30,70)
69. Manufacturers' machinery and equipment sales and
business construction expenditures (industrial and commercial construction put in place) (M).—Source
2
(24,67)
70. Manufacturing and trade inventories in 1972 dollars
(EOM).-Sources 1, 2, and 3
(27,68)
71.
Manufacturing and trade inventories, total book value
(EOM).-Sources 1 and 2
(27,68)
72. Commercial and industrial loans outstanding in current
dollars (M).-Sources 1 and 4
(35,73)
73. Index of industrial production, durable manufactures
(M).-Source 4
(20,63)
74. Index of industrial production,
manufactures (M).-Source 4
nondurable
(20,63)
75. Index of industrial production, consumer goods (M).—
Source 4
(22,65)
76. Index of industrial production, business equipment
(M).-Source 4
(24,67)
96. Manufacturers' unfilled orders, durable goods industries
(EOM).-Source 2
(21,64)
97. Backlog of capital appropriations, 1,000 manufacturing
corporations (EOQ).-The Conference Board
(24,66)
98. Change in producer prices for 28 sensitive crude and
intermediate materials (M).-Sources 1 and 3 (28,69)
(Q).-Source 1
(29,69)
102. Change in money supply M2 (M).-Source 4 (31,71)
967. Diffusion index of spot market prices, raw industrials—
13 industrial materials (M).-Sources 1, 3, and
Commodity Research Bureau, Inc.
(35,75,79)
104. Change in total liquid assets (smoothed) (M).—Sources
1- and 4
(31,71)
105. Money supply M l in 1972 dollars (M).-Sources 1,3,
and 4
(31,71)
106. Money supply M2 in 1972 dollars (M).-Sources 1, 3,
and 4
(13,31,71)
107. Ratio, gross national product to money supply M l
(Q).-Sources 1 and 4
(31,71)
108. Ratio, personal income to money supply M2 (M).—
Sources 1 and 4
(31,71)
109. Average prime rate charged by banks (M).—Source
4
(35,73)
112. Net change in business loans (M).—Sources 1 and 4
(32,72)
113. Net change in consumer installment credit (M).-Source
4
(32,72)
114. Discount rate on new issues of 91-day Treasury bills
(M).-Source 4
(34,72)
81. Ratio of profits (after taxes) with inventory valuation
and capital consumption adjustments to total corporate
domestic income (Q).—Source 1
(29,70)
115. Yield on long-term Treasury
Department of the Treasury
82. Rate of capacity utilization, manufacturing (Q).—Source
4
(20,64)
116. Yield on new issues of high-grade corporate bonds
(M).—Citibank and U.S. Department of the
Treasury
(34,73)
83. Rate of capacity utilization, manufacturing (EOQ).—
Source 1
(20,64)
84. Rate of capacity utilization, materials (Q).—Source
4
(20,64)
85. Change in money supply M l (M).-Source 4
(31,71)
964. Diffusion index of value of manufacturers' new orders,
durable goods industries— 34-35 industries (M).—
Sources 1 and 2
(37,75,77)
966. Diffusion index of industrial production—24 industries
(M).-Sources 1 and 4
(37,75,78)
111. Change in credit outstanding (business and consumer
borrowing) (M).—Sources 1, 4, and Federal Home
Loan Bank Board
(13,32,72)
80. Corporate profits after taxes with inventory valuation
and capital consumption adjustments in 1972 dollars
963. Diffusion index of number of employees on private
nonagricultural payrolls—172-186 industries (M).—
Source 3
(36,74)
(13,28,69)
78. Stocks of materials and supplies on hand and on order,
manufacturing (EOM).-Source 2
(27,68)
(29,69)
962. Diffusion index of initial claims for unemployment
insurance, State programs—51 areas (M).—Source 1
and U.S. Department of Labor, Employment and Training
Administration; seasonal adjustment by Bureau of
Economic Analysis
(36,74)
101. Commercial and industrial loans outstanding in 1972
dollars (M).-Sources 1, 3, and 4
(15,35,73)
110. Total funds raised by private nonfinancial borrowers in
credit markets (Q).-Source 4
(32,72)
(Q).-Source 1
961. Diffusion index of average workweek of production
workers, manufacturing—20 industries (M).—Sources 1
and 3
(36,74,77)
Diffusion index of newly approved capital
appropriations, deflated—17 manufacturing industries
(Q).—The Conference Board
(37,75)
99. Change in sensitive materials prices (smoothed) (M).—
Sources 1, 3, and Commodity Research Bureau, Inc.
77. Ratio, constant-dollar inventories (series 70) to sales
(series 57), manufacturing and trade, total
(M).—
Sources 1, 2, and 3
(15,27,68)
79. Corporate profits after taxes with inventory valuation
and capital consumption adjustments in current dollars
951. Diffusion index of four roughly coincident indicator
components (M).—Source 1
(36,74)
90. Ratio, civilian employment to total population of
working age (M).-Sources 1, 2, and 3
(17, 62)
65. Manufacturers' inventories of finished goods, book
value, all manufacturing industries (EOM).—Source
2
(27,68)
4
1-C. Diffusion Indexes
950. Diffusion index of twelve leading indicator components
(M).-Source 1
(36,74)
952. Diffusion index of six lagging indicator components
(M).-Source 1
(36,74)
93. Free reserves (member banks excess reserves minus
borrowings) (M).-Source 4
(33,72)
(35,73)
(34,72)
89. Gross private domestic fixed investment, total
residential, in 1972 dollars (Q).-Source 1
(25,67)
(30,47,70,83)
income (Q).-Source 1
119. Federal funds rate (M).-Source 4
bonds
(M).—U.S.
(34,73)
117. Yield on municipal bonds, 20-bond average (M).—The
Bond Buyer
(34,73)
118. Secondary market yields on FHA mortgages (M).—U.S.
Department of Housing and Urban Development, Federal
Housing Administration
(34,73)
965.
968. Diffusion index of stock prices, 500 common stocks—
49-82 industries (M).—Standard & Poor's Corporation
(37,75)
970. Diffusion index of business expenditures for new plant
and equipment, total—21 industries (Q).—Source
1
(38,76)
971. Diffusion index of new orders, manufacturing—about
600 businessmen reporting (Q).—Dun & Bradstreet, Inc.
(Used by permission. This series may not be reproduced
without written permission from the source.) (38,76)
972. Diffusion index of net profits, manufacturing and
trade—about 1,400 businessmen reporting (Q),—Dun &
*
Bradstreet, Inc. (Used by permission. This series may
not be reproduced without written permission from the
source.)
(38,76)
973. Diffusion index of net sales, manufacturing and t r a d e about 1,400 businessmen reporting (Q). Dun &
Bradstreet, Inc. (Used by permission. This series may
not be reproduced without written permission from the
source.)
(38,76)
974. Diffusion index of number of employees, manufacturing
and trade—about 1,400 businessmen reporting (Q).—
Dun & Bradstreet, Inc. (Used by permission. This series
may not be reproduced without written permission from
the source.)
(38,76)
975. Diffusion index of level of inventories, manufacturing
and trade—about 1,400 businessmen reporting (Q).—
Dun & Bradstreet, Inc. (Used by permission. This series
may not be reproduced without written permission from
the source.)
(38,76)
976. Diffusion index of selling prices, manufacturing—about
600 businessmen reporting (Q).—Dun & Bradstreet, Inc.
(Used by permission. This series may not be reproduced
without written permission from the source.) (38,76)
115
TITLES AND SOURCES OF SERIES- Continued
977. Diffusion index of selling prices, wholesale trade—about
400 businessmen reporting (Q).—Dun & Bradstreet, Inc.
(Used by permission. This series may not be reproduced
without written permission from the source.) (38,76)
978. Diffusion index of selling prices, retail trade-about 400
businessmen reporting (Q).—Dun & Bradstreet Inc.
(Used by permission. This series may not be reproduced
without written permission from the source.) (38,76)
Il-A. National Income and Product
30. Gross private domestic investment, change in business
inventories, all industries, in 1972 dollars (Q).-Source
1
(26, 42, 68, 81)
50. Gross national product in 1972 dollars (Q).-Source
1
(19,39,40,63,80)
64. Compensation of employees as a percent of national
income (Q).-Source 1
(30,47,70,83)
200. Gross national product in current dollars (Q).—Source
1
(40,80)
213. Final sales (series 50 minus series 30) in 1972 dollars
(Q).~Source 1
(40,80)
217. Per capita gross national product in 1972 dollars ( Q ) . ~
Sources 1 and 2
(40,80)
220. National income in current dollars (Q).—Source
1
(45,82)
223. Personal income in current dollars (M).-Source
1
(40,63)
224. Disposable personal income in current dollars ( Q ) . Source 1
(40 f 80)
225. Disposable personal income in 1972 dollars ( Q ) . Source 1
(40,80)
227. Per capita disposable personal income in 1972 dollars
(Q).-Sources 1 and 2
(40,80)
230. Personal consumption expenditures, total, in current
dollars (Q).-Source 1
(41,80)
231. Personal consumption expenditures, total, in 1972 dollars (Q).--Source 1
(41,80)
232. Personal consumption expenditures, durable goods, in
current dollars (Q)-Source 1
(41,80)
233. Personal consumption expenditures, durable goods, in
1972 dollars (Q).-Source 1
(41,80)
235. Personal consumption expenditures, total, as a percent
of gross national product (Q).-Source 1
(47,83)
236. Personal consumption expenditures, nondurable goods,
in current dollars (Q).-Source 1
(41,81)
237. Personal consumption expenditures, services, in current
dollars (Q).—Source 1
(41,81)
238. Personal consumption expenditures, nondurable goods,
in 1972 dollars (Q).-Source 1
(41,81)
239. Personal consumption expenditures, services, in 1972
dollars (Q).-Source 1
(41,81)
240. Gross private domestic investment, total, in current dollars (Q).-Source 1
(42,81)
241. Gross private domestic investment, total, in 1972 dollars (Q).-Source 1
(42,81)
242. Gross private domestic fixed investment, total, in
current dollars (Q).-Source 1
(42,81)
243. Gross private domestic fixed investment, total, in 1972
dollars (Q).-Source 1
(42,81)
245. Gross private domestic investment, change in business
inventories, all industries, in current dollars (Q).—
Source 1
(42,81)
116
247. Gross private domestic investment, change in business
inventories, all industries, as a percent of gross national
product (Q).-Source 1
(47,83)
292. Personal saving (Q).-Source 1
248. Gross private domestic fixed investment, nonresidential,
as a percent of gross national product (Q). -Source
1
(47,83)
295. Business saving-undistributed corporate profits plus
capital consumption allowances with inventory valuation
and capital consumption adjustment!. (Q).—Source
1
(46,82)
249. Gross private domestic fixed investment, residential, as
a percent of gross national product (Q).—Source
1
(47,83)
250. Net exports of goods and services in current dollars;
national income and product accounts (Q).—Source
1
(44,82)
251. Net exports of goods and services as a percent of gross
national product (Q).-Source 1
(47,83)
252. Exports of goods and services in current dollars;
national income and product accounts (Q).—Source
1
(44,82)
253. Imports of goods and services in current dollars;
national income and product accounts (Q).-Source
*
1
(44,82)
255. Net exports of goods and services in 1972 dollars;
national income and product accounts (Q).-Source
1
(44,82)
256. Exports of goods and services in 1972 dollars; national
income and product accounts (Q).-Source 1 (44,82)
257. Imports of goods and services in 1972 dollars; national
income and product accounts (Q).-Source 1 (44,82)
260. Government purchases of goods and services, total, in
current dollars (Q).-Source 1
(43,81)
261. Government purchases of goods and services, total, in
1972 dollars (Q).-Source 1
(43,81)
262. Federal Government purchases of goods and services in
current dollars (Q).-Source 1
(43,81)
263. Federal Government purchases of goods and services in
1972 dollars (Q).-Source 1
(43,81)
(46,82)
293. Personal saving rate—personal saving as a percent of
disposable personal income (Q),—Source 1 (46,83)
298. Government surplus or deficit, total (Q).-Source
(46,83)
1
Il-B. Prices, Wages, and Productivity
310. Implicit price deflator, gross national product (Q).—
Source 1
(48,84)
311. Fixed-weighted price index, gross business product
(Q).-Source 1
(48,84)
320. Index of consumer prices, all items (M).-Source
3
(49,59,84,95)
322. Index of consumer prices, food (M),-$3urce 3(49,84)
330. Index of producer prices, all commodities (M).-Source
3
(48,85)
331. Index of producer prices, crude materials for further
processing (M).-Source 3
(48,85)
332. Index of producer prices, intermediate materials, supplies, and components (M).-Source 3
(48,86)
333. Index of producer prices, capital equipment ( M ) . Source 3
(48,86)
334. Index of producer prices, finished consumer goods
(M).-Source 3
(48,86)
335. Index of producer prices, industrial commodities ( M ) . Source 3
(48,85)
340. Index of average hourly earnings of production workers,
private nonfarm economy—adjusted for overtime (in
manufacturing only), interindustry employment shifts,
and seasonality (M).-Source 3
(49,87)
265. Federal Government purchases of goods and services as
a percent of gross national product (Q).—Source
1
(47,83)
266. State and local government purchases of goods and
services in current dollars (Q).-Source 1
(43,81)
267. State and local government purchases of goods and
services in 1972 dollars (Q).—Source 1
(43,81)
341. Index of real average hourly earnings of production
workers, private nonfarm economy—adjusted for
overtime (in manufacturing only), interindustry
employment shifts, and seasonality (M).-Source
3
(49,87)
268. State and local government purchases of goods and
services as a percent of gross national product ( Q ) . Source 1
(47,83)
346. Index of real average hourly compensation, all
employees, nonfarm business sector (Q).—Source
3
(49,88)
280. Compensation of employees (Q).-Source 1
282. Proprietors' income with inventory valuation and capital
consumption adjustments (Q).-Source 1
(45,82)
348. Negotiated wage and benefit decisions, all industriesaverage (mean) first year changes (Q).—Source
3
(50,88)
283. Proprietors' income with inventory valuation and capital
consumption adjustments as a percent of national
income (Q).-Source 1
(47,83)
349. Negotiated wage and benefit decisions, all industriesaverage (mean) changes over life of contract (Q),—
Source" 3
(50,88)
284. Rental income of persons with capital consumption
adjustment (Q).-Source 1
(45,82)
358. Index of output per hour, all persons, nor farm business
sector (Q).-Source 3
(49,88)
285. Rental income of persons with capital consumption
adjustment as a percent of national income (Q).—
Source 1
(47,83)
370. Index of output per hour, all persons, private business
sector (Q).-Source 3
(49,88)
(45,82)
286. Corporate profits with inventory valuation and capital
consumption adjustments (Q).-Source 1
(47,82)
345. Index of average hourly compensation, all employees,
nonfarm business sector (Q).—Source 3
(49,87)
Il-C. Labor Force, Employment, and
Unemployment
(45,82)
37. Number of persons unemployed, labor force survey
(M).-Sources 2 and 3
(18,51,62,89)
441. Total civilian labor force, labor force isurvey ( M ) . Sources 2 and 3
(51,89)
289. Net interest as a percent of national income ( Q ) . Source 1
(47,83)
442. Total civilian employment, labor force survey ( M ) . Sources 2 and 3
(51,89)
290. Gross saving—private saving plus government surplus or
deficit (Q).-Source 1
(46,82)
444. Number unemployed, males 20 years arid over, labor
force survey (M).-Sources 2 and 3
(51,89)
287. Corporate profits with inventory valuation and capital
consumption adjustments as a percent of national
income (Q).-Source 1
(47,83)
288. Net interest (Q).-Source 1
* U, S. GOVERNMENT PRINTING OFFICE : 1984'420-993/304
TITLES AND SOURCES OF SERIES- Continued
445.
Number unemployed, females 20 years and over, labor
force survey (fvl).—Sources 2 and 3
(51,89)
565.
National defense purchases as a percent of gross
national product (Q).—Source 1
(55,91)
446.
Number unemployed, both sexes 16-19 years of age,
labor force survey (M).-Sources 2 and 3
(51,89)
570.
447.
Number unemployed, full-time workers, labor force
survey (M).-Sources 2 and 3
(51,89)
Employment in defense products industries (M).—
Source 3; seasonal adjustment by Bureau of Economic
Analysis
(55,91)
577.
Defense Department personnel, military, active duty
(E0M).—U.S. Department of Defense, OSDt Comptroller,
Washington Headquarters Services
(55,91)
578.
Defense Department personnel, civilian, direct hire
employment (EOM).-U.S. Department of Defense, OSD,
Comptroller, Washington Headquarters Services(55,91)
580.
Defense Department net outlays, military functions and
military assistance (M).—U.S. Department of Defense,
OSD, Comptroller, Directorate for Program and
Financial Control; seasonal adjustment by Bureau of
Economic Analysis
(54,91)
448.
Number employed, part-time workers for economic
reasons, labor force survey (M).-Sources 2 and
3
.
(51,89)
451. Civilian labor force participation rate, males 20 years
and over (M).-Sources 2 and 3
(51,89)
452.
Civilian labor force participation rate, females 20 years
and over (M) -Sources 2 and 3
(51,89)
453.
Civilian labor force participation rate, both sexes 16-19
years of age (M).-Sources 2 and 3
(51,89)
588.
Il-D. Government Activities
500.
Federal Government surplus or deficit; national income
and product accounts (Q).-Source 1
(52,90)
502.
Federal Government expenditures; national income and
product accounts (Q).-Source 1
(52,90)
510.
State and local government surplus or deficit; national
income and product accounts (Q).—Source 1 (52,90)
604. Exports of domestic agricultural products (M).-Source 2;
seasonal adjustment by Bureau of Economic
Analysis
(56,92)
525.
543.
548.
557.
Defense Department gross obligations incurred ( M ) . U.S. Department of Defense, OSD, Comptroller,
Directorate for Program and Financial Control; seasonal
adjustment by Bureau of Economic Analysis (53,90)
Defense Department military prime contract awards for
work performed in the United States (M).-U.S.
Department of Defense, OSDr Comptroller, Washington
Headquarters Services; seasonal adjustment by Bureau
of Economic Analysis
(53,90)
Defense Department gross unpaid obligations
outstanding (EOM).-U.S. Department of Defense, OSD,
Comptroller, Directorate for Program and Financial
Control; seasonal adjustment by Bureau of Economic
Analysis
(53,90)
Organization for Economic Cooperation and
Development, European countries, index of industrial
production (M).-Organization for Economic Cooperation and Development (Paris)
(58,94)
722.
United Kingdom, index of industrial production (M).—
Central Statistical Office (London)
(58,94)
723.
Canada, index of industrial production (M).-Statistics
Canada (Ottawa)
(58,94)
725.
West Germany, index of industrial production (M).
Statistisches Bundesafnt (Wiesbaden)
(58,94)
726.
France, index of industrial production (M).—Institut
National de la Statistique et des Etudes Economiques
(Paris)
(58,94)
727.
Italy, index of industrial production
Centrale di Statistica (Rome)
.
728.
Japan, index of industrial production (M),--Ministry of
International Trade and Industry (Tokyo)
(58,94)
732.
United Kingdom, index of consumer prices ( M ) . —
Department of Employment (London); percent changes
seasonally adjusted by Bureau of Economic Analysis
(59,95)
Exports, excluding military aid shipments, total (M).—
Source 2
(56,92)
(M).—Istituto
(58,94)
Exports of nonelectrical machinery (M).—Source 2;
seasonal adjustment by Bureau of Economic
Analysis
(56,92)
733.
Canada, index of consumer prices (M).—Statistics
Canada (Ottawa); percent changes seasonally adjusted
by Bureau of Economic Analysis
(59,96)
612.
General imports, total (M).-Source 2
735.
West Germany, index of consumer prices (M).—
Statistisches Bundesamt (Wiesbaden); percent changes
seasonally adjusted by Bureau of Economic Analysis
736.
France, index of consumer prices (M).—Institut
National de la Statistique et des Etudes Economiques
(Paris); percent changes seasonally adjusted by Bureau
of Economic Analysis
(59,95)
737.
Italy, index of consumer prices (M).—Istituto Centrale di
Statistica (Rome); percent changes seasonally adjusted by
Bureau of Economic Analysis
(59,96)
738.
Japan, index of consumer prices (M).—Office of the
Prime Minister (Tokyo); percent changes seasonally
adjusted by Bureau of Economic Analysis
(59,95)
(56,92)
614. Imports of petroleum-and petroleum products (M).—
Source 2; seasonal adjustment by Bureau of Economic
Analysis
(56,92)
616.
618.
Imports of automobiles and parts (M).—Source 2;
seasonal adjustment by Bureau of Economic
Analysis
(56,92)
Merchandise exports, adjusted, excluding military grants
(Q).-Source 1
620.
(59,95)
Merchandise
(57,93)
imports,
adjusted,
excluding
(Q).-Source 1
military
(57,93)
622.
Balance on merchandise trade (Q).-Source 1 (57,93)
651.
Income
1
(Q).-Source
(57,93)
742.
652.
United Kingdom, index of stock prices (M) .-Central
Statistical Office (London)
(59,96)
Value of manufacturers' new orders, defense products
( M ) . - Source 2
(53,90)
Income on foreign investments in the United States
(Q).-Source 1
(57,93)
743.
667.
Balance on goods and services (Q).—Source 1(57,93)
Canada, index of stock prices (M).-Statistics Canada
(Ottawa)
(59,96)
Output of defense and space equipment ( M ) . - Source
668.
Exports of goods and services, excluding transfers under
U.S. military grants (Q).-Source 1
(57,93)
745.
West Germany, index of stock prices (M).—Statistisches
Bundesamt (Wiesbaden)
(59,96)
669.
Imports of goods and services, total (Q).—Source
1
(57,93)
746.
France, index of stock prices (M).—Institut National de
la Statistique et des Etudes Economiques (Paris)
747.
Italy, index of stock prices (M).—Banca d1 Italia
(Rome)
(59,96)
748.
Japan, index of stock prices (M).—Bank of Japan
(Tokyo)
(59,96)
4
559.
721.
606.
511. State and local government receipts; national income
and product accounts (Q).-Source 1
(52,90)
517.
(14,20,39,58,63,78,94)
United States, index of consumer prices, all items
(M).-Source 3
(48,59,84,95)
Il-E. U.S. International Transactions
602.
State and local government expenditures; national
income and product accounts (Q).—Source 1 (52,90)
(M).-Source 4
320.
Value of manufacturers' shipments, defense products
(M).-Source 2
(54,91)
501. Federal Government receipts; national income and product accounts (Q)-Source 1
(52,90)
512.
47. United States, index of industrial production, total
(54,91)
Value of manufacturers' inventories, defense products
(EOM).-Source 2
(54,91)
561. Value of manufacturers' unfilled orders, defense products (EOM).-Source 2
(54,91)
564. Federal Government purchases of goods and services for
national defense (Q).-Source 1
(55,91)
on U.S.
investments abroad
(59,96)
Il-F. International Comparisons
19. United States, index of stock prices, 500 common stocks
(M).-Standard & Poor's Corporation (13,28,59,69,96)
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