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ss
TIONS
U.S. DEPAf
OFCOIWEiCi
BUfcJiOF
ECONOMIC /|AJ|rSK
U.S. DEPARTMENT OF COMMERCE
Malcolm Baldrige, Secretary
Robert G. Dederick, Assistant Secretary for Economic Affairs
BUREAU OF ECONOMIC ANALYSIS
George Jaszi, Director
Allan H. Young, Deputy Director
Charles A. Waite, Acting Associate Director for
National Analysis and Projections
Feliks Tamm, Editor
This report is prepared in the Statistical Indicators Division of the Bureau of Economic
Analysis. Technical staff and their responsibilities for the publication are—
Barry A. Beckman—Technical supervision and review
Brian D. Kajutti—Composite indexes
Morton Somer—Seasonal adjustments
Betty F. Tunstall—Data collection and compilation (Phone: 202-523-0541)
The cooperation of government and private agencies that provide data is gratefully
acknowledged. Agencies furnishing data are indicated in the list of series titles and sources
at the back of this report.
This publication is prepared under the general guidance of a technical committee consisting of the following persons:
Beatrice N. Vaccara, Chairman, Bureau of Industrial Economics, U.S. Department of
Commerce
John H. Auten, U.S. Department of the Treasury
Norman Frumkin, Office of Management and Budget
Ronald E. Kutscher, Bureau of Labor Statistics, U.S. Department of Labor
David C. Munro, Council of Economic Advisers
J. Cortland Peret, Board of Governors of the Federal Reserve System
Charles A. Waite, Bureau of Economic Analysis, U.S. Department of Commerce
ABOUT THIS REPORT
BUSINESS CONDITIONS DIGEST (BCD) provides
a monthly look at many of the economic time
series found most useful by business analysts
and forecasters.
The original BCD, which began publication
in 1961 under the title Business Cycle Developments, emphasized the cyclical indicators approach to the analysis of business conditions
and prospects. The report's contents were based
largely on the list of leading, roughly coincident,
and lagging indicators maintained by the
National Bureau of Economic Research, Inc.
In 1968, BCD was expanded to increase its
usefulness to analysts using other approaches to
business conditions analysis. Principal additions
to the report were series from the national income and product accounts and series based on
surveys of businessmen's and consumers' anticipations and intentions. The composite indexes were added at that time, and the report's
present title was adopted.
The dominant feature of the current BCD is
the cyclical indicators section, in which each
business cycle indicator is assigned a three-way
timing classification according to its behavior at
peaks, at troughs, and at all turns. This section is
supplemented by a section containing other important economic measures. The method of
presentation is explained in the introductory text
which begins on page 1.
Most of the data contained in this report
also are published by their source agencies. A
series finding guide and a complete list of series
titles and sources can be found at the back of the
report.
Annual subscription price: $60 domestic, $75
foreign. Single copy price: $5.50 domestic,
$6.90 foreign. Foreign airmail rates are available
upon request. Address all correspondence
concerning subscriptions to the Superintendent
of Documents, U.S. Government Printing Office,
Washington, D.C. 20402. Make checks payable
to the Superintendent of Documents.
Cyclical Indicators are economic time series
which have been singled out as leaders, coinciders, or laggers based on their general conformity to cyclical movements in aggregate
economic activity. In this report, cyclical indicators are classified both by economic process
and by their average timing at business cycle
peaks, at business cycle troughs,and at peaks
and troughs combined. These indicators have
been selected primarily on the basis of their
cyclical behavior, but they also have proven
useful in forecasting, measuring, and interpreting short-term fluctuations in aggregate
economic activity.
Other Economic Measures provide additional information for the evaluation of current business
conditions and prospects. They include selected
components of the national income and product
accounts; measures of prices, wages, and
productivity; measures of the labor force,
employment, and unemployment; economic
data on Federal, State, and local government activities; measures of U.S. international transactions; and selected economic comparisons with
major foreign countries.
BUSINESS CONDITIONS DIGEST
New Features and Changes for This Issue
KCII
iii
METHOD OF PRESENTATION
Seasonal Adjustments
MCD Moving Averages
1
1
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
4
5
5
6
MAY 1982
Data Through April
Volume 22, Number 5
PART I.
CYCLICAL INDICATORS
COMPOSITE INDEXES AND
THEIR COMPONENTS
Al
A2
A3
A4
Chart
Composite Indexes
Leading Index Components
Coincident Index Components
Lagging Index Components
Table
10
12
14
15
60
—
—
—
16
19
21
23
26
28
31
61
63
64
65
68
69
71
36
—
39
74
77
—
CYCLICAL INDICATORS
BY ECONOMIC PROCESS
Bl
B2
B3
B4
B5
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
TJT~
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.
BCII
PART II.
OTHER IMPORTANT
ECONOMIC MEASURES
•£•
NATIONAL INCOME
_
AQ
jA2__
j^3_
.A4 _,
_A5_
_A6_
AND PRODUCT
GNP and
Personal Income
Personal Consumption Expenditures
Gross Private Domestic Investment
Government Purchases of Goods and Services
Foreign Trade
National Income and Its Components
jATj
_A8j
Saving
Shares of GNP and National Income
Chart
40
41
42
43
44
45
Table
80
80
81
81
82
82
46
47
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
EJl
Price Movements
Wages and Productivity
LABOR FORCE, EMPLOYMENT,
AND UNEMPLOYMENT
Civilian Labor Force and Major Components
GOVERNMENT ACTIVITIES
Dl 1
~D2 |
Receipts and Expenditures
Defense Indicators
_ElJ
E2 j
Merchandise Trade
Goods and Services Movements
_R |
_F2j
F31
Industrial Production
Consumer Prices
Stock Prices
U.S. INTERNATIONAL TRANSACTIONS
INTERNATIONAL COMPARISONS
PART III. APPENDIXES
A. MCD and Related Measures of Variability (January 1981 issue)
QCD and Related Measures of Variability {January 1981 issue)
B. Current Adjustment Factors
C. Historical Data for Selected Series
D. Descriptions and Sources Of Series (See "Alphabetical Index—Series Finding Guide")
E. Business Cycle Expansions and Contractions (February 1982 issue)
F. Specific Peak and Trough Dates for Selected Indicators (April 1981 issue)
G. Experimental Data and Analyses
Alphabetical Index—Series Finding Guide
Titles and Sources of Series
97
98
106
110
114
Readers are invited to submit comments and
suggestions concerning this publication.
Address them to Feliks Tamm, Chief, Statistical
Indicators Division, Bureau of Economic Analysis,
U.S. Department of Commerce, Washington, D.C. 20230
NEW FEATURES
AND CHANGES
FOR THIS ISSUE
A limited number of
changes are made from
time to time to incorporate recent findings of economic
research, newly available time series, and
revisions made by
source agencies in
concept, composition,
comparability, coverage,
seasonal adjustment
methods, benchmark
data, etc. Changes may
result in revisions of
data, additions or
deletions of series,
changes in placement of
series in relation to
other series, changes
in composition of
indexes, etc.
Changes in this issue are as follows:
1. The series on new housing units authorized by local
building permits (series 29) has been revised for the period
1980 to date. This revision reflects the source agency's
updating of statistics for 1981 and application of new seasonal adjustment factors for 1980 to date.
Further information concerning this revision may be
obtained from the U.S. Department of Commerce, Bureau of the
Census, Construction Statistics Division.
2. Appendix C contains historical data for series 66,
85, 95, 102, 104-106, 108, 113, 320, 322, 330, 331, 602, and
612.
3. Appendix G contains recession comparisons for series
30, 50, 51, 82, 86, 91, 104, and 106.
The June issue of BUSINESS CONDITIONS DIGEST is scheduled for
release on July 2.
II!
SIX BEA PROJECTS
FOR ECONOMIC
ANALYSIS
BUSINESS CONDITIONS DIGEST A monthly report for analyzing
economic fluctuations over a short span of years.
This report brings together many of the economic time series most useful to business analysts and
forecasters. In the cyclical indicators section, each of about 110 business cycle indicators is assigned
a three-way timing classification according to its cyclical behavior at peaks, troughs, and all turns.
This section also includes important analytical measures, such as composite indexes of leading, coincident, and lagging indicators and selected diffusion indexes. A second section contains other important economic data on prices, wages, productivity, government and defense-related activities, U.S. international transactions, and international comparisons.
About 300 time series are shown in analytical graphs that help to evaluate business conditions and
prospects. Current data are shown in accompanying tables. Appendixes provide historical data,
seasonal adjustment factors, measures of variability, cyclical comparisons, and other useful information. A computer tape containing data for most of the series is available for purchase.
HANDBOOK OF CYCLICAL INDICATORS A reference volume containing valuable background information for users of Business Conditions Digest.
This recurrent report provides descriptive and analytical information on the economic time series
presented monthly in Business Conditions Digest. Included are series descriptions, historical
data, and measures of variability. For the cyclical indicators and composite indexes, special tables
show detailed scoring measures and average timing at cyclical peaks and troughs. Verbal and
algebraic explanations of the composite index methodology are also provided.
LONG TERM ECONOMIC GROWTH A report for the study of economic
trends over a long span of years: 1860-1970.
This report provides a comprehensive, long-range view of the U.S. economy by presenting relevant
statistical time series in easy-to-follow analytical charts and convenient data tables. It is a basic
research document for economists, historians, investors, teachers, and students, bringing together in
one volume a complete statistical basis for the study of long-term economic trends. A computer tape
file of the time series included in the report is available for purchase.
COMPUTER PROGRAMS FOR TIME SERIES ANALYSIS The source
statements for FORTRAN IV programs used by BEA in its analysis of
time series are available on a single computer tape.
SEASONAL ADJUSTMENT PROGRAMS—Two variants of the Census computer program
measure and analyze seasonal, trading-day, cyclical, and irregular fluctuations. They are particularly
useful in analyzing economic fluctuations that take place within a year. The X-ll variant is used for
adjusting monthly data and the X-11Q for quarterly data. These programs make additive as well as
multiplicative adjustments and compute many summary and analytical measures.
INDEX PROGRAM—This program computes composite and diffusion indexes and summary
measures of the properties of each index.
TIME SERIES PROCESSOR—This program, through simple commands, performs a variety of
arithmetic, statistical, and manipulative operations on time series data.
SURVEY OF CURRENT BUSINESS
current economic developments.
A monthly report for analyzing
This report provides a useful combination of current data for more than 2,500 statistical series and
significant articles analyzing economic developments. These data and analyses include such areas as
the national income and product accounts, the balance of payments accounts, plant and equipment
expenditures, regional personal income, and the input-output accounts.
For further information (including prices and ordering instructions) on any of these items,
please write to the Bureau of Economic Analysis,
U.S. Department of Commerce, Washington, D.C.
20230.
BUSINESS STATISTICS A biennial reference volume containing
statistical series reported currently in the Survey of Current Business.
This report provides historical data back to 1947 for nearly 2,500 time series. The series are accompanied by concise descriptions as to their composition, methods of compilation, comparability, revisions, and availability. Also listed are the names and addresses of organizations that provide the basic
data for the series.
IV
METHOD OF PRESENTATION
This report is organized into two major parts.
Part I, Cyclical Indicators, includes about 150 time
series which have been found to conform well to
broad fluctuations in comprehensive measures of
economic activity. Nearly three-fourths of these are
individual indicators, the rest are related analytical
measures: Composite indexes, diffusion indexes,
and rates of change. Part II, Other Important
Economic Measures, covers over 140 series which
are valuable to business analysts and forecasters
but which do not conform well enough to business
cycles to qualify as cyclical indicators. (There are a
few exceptions: Four series which are included in
part I are also shown in part II to complete the
systematic presentation of certain sets of data,
such as real GNP and unemployment.) The largest
section of part II consists of quarterly series from
the national income and product accounts; other
sections relate to prices, labor force, government
and defense-related activities, and international
transactions and comparisons.
The two parts are further divided into sections
(see table of contents), and each of these sections
is described briefly in this introduction. Data are
shown both in charts and in tables. Most charts
begin with 1956, but those for the composite
indexes and their components (part l f section A)
begin with 1948, and a few charts use a two-panel
format which covers only the period since 1971.
Except for section F in part II, charts contain
shading which indicates periods of recession in
general business activity. The tables contain data
for only the last few years. The historical data for
the various time series are contained in the 1977
Handbook of Cyclical Indicators.
In addition to the charts and tables described
above, each issue contains a summary table which
shows the current behavior of many of the series.
Appendixes present seasonal adjustment factors,
measures of variability, specific cycle turning
dates, cyclical comparison charts, and other
information of analytical interest. An index appears
at the back of each issue. It should be noted that
the series numbers used are for identification
purposes only and do not reflect precise
relationships or order. However, all series
considered as cyclical indicators are numbered in
the range 1 to 199.
Seasonal Adjustments
Adjustments for average seasonal fluctuations
are often necessary to bring out the underlying
trends of time series. Such adjustments allow for
the effects of repetitive intrayear variations
resulting primarily from normal differences in
weather conditions and from various institutional
arrangements. Variations attributable to holidays
are usually accounted for by the seasonal
adjustment process; however, a separate holiday
adjustment is occasionally required for holidays
with variable dates, such as Easter. An additional
adjustment is sometimes necessary for series
which contain considerable variation due to the
number of working or trading days in each month.
As used in this report, the term "seasonal
adjustment" includes trading-day and holiday
adjustments where they have been made.
Most of the series in this report are presented in
seasonally adjusted form and, in most cases, these
are the official figures released by the source
agencies. However, for the special purposes of this
report, a number of series not ordinarily published
in seasonally adjusted form are shown here on a
seasonally adjusted basis.
MCD Moving Averages
Month-to-month changes in a series are often
dominated by erratic movements. MCD (months for
cyclical dominance) is an estimate of the appropriate span over which to observe cyclical
movements in a monthly series. (See appendix A.)
It is the smallest span of months for which the
average change in the cyclical factor is greater than
that in the irregular factor. The more erratic a
series is, the larger the MCD will be; thus, MCD is 1
for the smoothest series and 6 for the most erratic.
MCD moving averages (that is, moving averages of
the period equal to MCD) tend to have about the
same degree of smoothness for all series. Thus, a
5-term moving average of a series with an MCD of 5
will show its cyclical movements about as clearly
as the seasonally adjusted data for a series with an
MCD of 1.
The charts in this report generally include
centered MCD moving averages for those series
with an MCD greater than 4. The seasonally
adjusted data are also plotted to indicate their
variation about the moving averages and to provide
observations for the most recent months.
Reference Turning Dates
The historical business cycle turning dates used
in this report are those designated by the National
Bureau of Economic Research, Inc. (NBER). They
mark the approximate dates when, according to
NBER, aggregate economic activity reached its
cyclical high or low levels. As a matter of general
practice, neither new reference turning dates nor
the shading for recessions will be entered on the
charts until after both the new reference peak and
the new reference trough bounding the shaded area
have been designated.
The historical reference turning dates are subject
to periodic review by NBER and on occasion are
changed as a result of revisions in important
economic time series. The dates shown in this
publication for the 1948-1970 time period are those
determined by a 1974 review. Since then, NBER has
designated turning points for the 1973-1975 recession and the 1980 recession.
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
>v Economic
\Process
Cyclical \.
Timing
N.
LEADING (L)
INDICATORS
(62 series)
t
PRODUCTION
AND
Marginal
employment
adjustments
(6 series)
Job vacancies
(2 series)
Comprehensive
employment
Usuries)
Comprehensive
Capacity
utilization
C2 series)
Comprehensive
output and
real income
|4 series)
1 nd ustr ial
production
{4 series)
(18 series)
•/
ROUGHLY
V " - •
",
Comprehensive
employment
(i series)
(23 series)
(18 series)
TIMING
UNCLASSIFIED
(U)
INCOME
(10 series)
HI.
IV.
FIXED
CAPITAL
INVESTMENT
(18 series)
V.
INVENTORIES
AND
INVENTORY
INVESTMENT
VI.
PRICES, COSTS,
AND PROFITS
New and
unfiiied 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)
Stock prices
(I series)
Commodity
prices
(1 series)
Profits and
profit
margins
C7 series)
Cash flows
(2 series)
Consumption
and trade
(4 series)
Backlog of
Investment
commitments
(I series)
Business
investment
expenditures
(5 series)
CONSUMPTION.
TRADE,
ORDERS, AND
DELIVERIES
(13 series)
(17 series)
Duration of
unemployment
•' '(2 series)
Business
investment
expenditures
(l series)
Comprehensive
employment
(3 series)
Trade
(1 series)
Business
investment
commitments
(1 series)
III.
IV.
FIXED
CAPITAL
INVESTMENT
(18 series)
(8 series)
VII.
MONEY
AND CREDIT
(26 series)
(9 series)
" "•
COINCIDENT(C)
INDICATORS
LAGGING (Lg)
INDICATORS
II.
E*M PLOY MENT
AND
UNEMPLOYMENT
Money flows
(3 series)
Real money
supply
(2 series)
Credit flows
(4 series)
Credit
difficulties
(2 series)
Bank reserves
(2 series)
interest rates
(1 series)
Velocity of
money
(2 series)
interest rates
(2 series)
Unit labor costs
and tabor share
(4 series)
1 nterest rates
(4 series)
Outstanding
debt
C3 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
VII.
i nventory
investment
(4 series)
Stock prices
(1 series)
Commodity
prices
(2 series)
Profits and
profit margins
{§ series)
Cash flows
(2 series)
Money flows
{2 series)
Reai 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)
B. Timing at Business Cycle Troughs
N. Economic
\Process
>.
Cyclical^.
Timing
N.
LEADING (L)
INDICATORS
(47 series)
1.
PRODUCTION
AND
INCOME
(10 series)
CONSUMPTION,
TRADE,
ORDERS, AND
DELIVERIES
(13 series)
Marginal
employ merit
adjustments
(3 series)
Industrial
production
(1 series)
New and unfiiied Formation of
business
orders and
enterprises
deliveries
(5 series)
(2 series)
Consumption
Business
and trade
Investment
commitments
(4 series)
{4 series)
Residential
construction
(3 series)
Com prehensive
output and
real income
(4 series)
Industrial
production
(3 series)
Capacity
utilization
(2 series)
Consumption
and trade
(3 series)
Business
investment
commitments
(1 series)
Unfiiied orders
(1 series)
Business
investment
commitments
(2 series)
Business
investment
expenditures
(6 series)
Marginal
employment
adjustments
ROUGHLY
(2 series)
COINCIDENT(C) Comprehensive
INDICATORS
employment
(23 series)
(4 series)
LAGGING (Lg)
INDICATORS
(40 series)
TIMING
UNCLASSIFIED
(U)
(1 series)
II.
EMPLOYMENT
AND
UNEMPLOYMENT
(18 series)
Marginal
employment
adjustments
(1 series)
Job vacancies
(2 series)
Comprehensive
employment
(l series)
Comprehensive
and duration
of
unemployment
(5 series)
inventories on
hand and on
order
(5 series)
(17 series)
MONEY
AND CREDIT
(26 series)
Bank reserves
(1 series)
independent measurement error and other "noise"
in the included series are smoothed out in the
index as a whole. The indexes include only monthly
series that are acceptable in terms of relatively
prompt availability and reasonable accuracy.
The main composite indexes are distinguished by
their cyclical timing. Thus, there is an index of
leading indicators, series which historically reached
their cyclical peaks and troughs earlier than the
corresponding business cycle turns. There is an
index of roughly coincident indicators, consisting
of series which historically reached their turning
points at about the same time as the general
economy, and an index of lagging indicators, which
includes series that typically reached their peaks
and troughs later than the corresponding business
cycle turns.
The leading index contains series with long as
well as short leads, but each series leads on the
average over time and shows a frequency of leads
at the individual turns exceeding that attributable
to chance, given the historical distribution of
cyclical timing. (An analogous statement applies to
the components of the lagging index.) Since 1948,
leads were generally more frequent and longer at
peaks than at troughs of business cycles, while lags
were generally more frequent and longer at troughs
than at peaks. The adopted system of scoring and
classifying the indicators takes into account these
well-established d i f f e r e n c e s in timing.
Consequently, rough coincidences include short
leads (-) and lags ( + ) as well as exact
coincidences (0). (For monthly series, the range is
from -3 through -hi at peaks and from -1 through
4-3 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 UC,C,C," and all components of the lagging
index "Lg,Lg,Lg." It should be remembered that
these classifications are based on limited evidence,
namely the performance of the indicators during
the business cycles of the 1948-70 period, which
included five peaks and five troughs. While the
timing classifications are expected to agree with
the patterns prevailing in the near future, they will
not necessarily hold invariably in every instance.
The timing of the series in the post-1970 period can
be determined by inspection of the charts, where the
1973-1975 recession and the 1980 recession are
shaded according to the dates of the NBER reference
cycle chronology.
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.
4
Gross private domestic investment (A3) is fixed
capital goods purchased by private business and
nonprofit institutions and the value of the change
in the physical volume of inventories held by
private business. The former include all private
purchases of dwellings, whether purchased for
tenant or owner occupancy. Net purchases of used
goods are also included.
Government purchases of goods and services
(A4) is the compensation of government employees
and purchases from business and from abroad. It
excludes transfer payments, interest paid by
government, and subsidies. It includes gross
investment by government enterprises but excludes
their current outlays. It includes net purchases of
used goods and excludes sales and purchases of
land and financial assets.
Net exports of goods and services (AS) 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 (AS).-The
major expenditure components of GNP
(consumption, investment, etc.) are expressed as
percentages of GNP, and the major income
components of national income (compensation of
employees, corporate profits, etc.) are expressed as
percentages of national income.
Section B. Prices, Wages, and Productivity
The important data on price movements include
the monthly consumer and producer price indexes
and their major components. Based largely on
these series are the quarterly price indexes from
the national income and product accounts, notably
the GNP implicit price deflator (with weights
reflecting the changing proportions of different
expenditure categories in GNP) and the fixedweighted price index for the gross business product. Data on both levels and percent changes are
presented for the period since 1971.
The group of series on wages and productivity
consists of data on average hourly earnings and
average hourly compensation (including earnings
and other benefits) in current and constant dollars,
output per hour of work in the business sector, and
rates of change for most of these measures.
Section C. Labor 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, and employment.
These series are grouped according to the time at
which the activities they measure occur in the
defense order-production-delivery process. Series
measuring activities which usually precede production, such as contract awards and new orders,
are classified as "advance measures of defense
activity." Series measuring activities which tend to
coincide with production, such as employment, and
activities which usually follow production, such as
shipments, are classified as "intermediate and final
measures of defense activity."
Section E. U.S. International Transactions
This group includes monthly series on exports
(excluding military aid) and general imports, plus a
few selected components of these aggregates. Also
shown are the balances between receipts and
expenditures for goods and services, merchandise,
and investment income.
Section F. International Comparisons
This section is designed to facilitate a quick
review of basic economic conditions in six of the
nations with which we have important trade
relationships. The U.S. business cycle shading has
been omitted from these charts. Data on industrial
production, consumer prices, and stock prices for
Canada, the United Kingdom, France, West Germany, Japan, and Italy are compared with the corresponding U.S. series. Also included is an industrial production index for the European
countries in the Organization for Economic
Cooperation and Development (OECD). The industrial production series provide cyclically sensitive output measures for large parts of the
economies covered. Changes in consumer price indexes (plotted for the period since 1971) provide
important measures of the rates of inflation in the
major industrialized countries. Stock prices (also
shown beginning in 1971) tend to be significant as
leading indicators.
HOW TO READ CHARTS
Peak (P) of cycle indicates
end of expansion and beginning of recession (shaded
area) as designated by NBER.
Basic Data
Arabic number indicates latest
month for which data are
plotted. ("9" = September)
Solid line indicates monthly
data. (Data may be actual
monthly figures or moving
averages.)
Dotted line indicates anticipated data.
Broken line indicates actual
monthly data for series where
a moving average is plotted.
Roman number indicates
latest quarter for which data
are plotted. ("IV" = fourth
quarter)
Solid line with plotting points
indicates quarterly data.
Parallel lines indicates a break
in continuity (data not available, extreme value, etc.).
Diffusion Indexes
Solid line indicates monthly
data over 6- or 9-month
spans.
Broken line indicates monthly
data over 1-month spans.
Various scales are used to
highlight the patterns of the
individual series. "Scale A"
is an arithmetic scale, "scale
L-1" is a logarithmic scale
with 1 cycle in a given distance, "scale L-2" is a logarithmic scale with two cycles
in that distance, etc.
Arabic number indicates latest
month for which data are
used in computing the indexes.
Broken line with plotting
points indicates quarterly
data over 1-quarter spans.
Roman number indicates
latest quarter for which data
are used in computing the indexes.
Solid line with plotting points
indicates quarterly data over
various spans.
Diffusion indexes and rates
of change are centered within
the spans they cover.
Trough (T) of cycle indicates
end of recession and beginning of expansion as designated by NBER.
Dotted line indicates anticipated quarterly data over
various spans.
Rates of Change
Solid line indicates percent
changes over 3- or 6-month
spans.
Broken line indicates percent
changes over 1-month spans.
Solid line with plotting points
indicates percent changes over
3-or 4-quarter spans.
Arabic number indicates latest
month used in computing
the changes.
Broken line with plotting
points indicates
percent
changes over 1-quarter spans.
Roman number indicates
latest quarter used in computing the changes.
HOW TO LOCATE A SERIES
See ALPHABETICAL INDEX-SERIES FINDING GUIDE at
the back of the report where series are arranged alphabetically
according to subject matter and key words and phrases of the
series titles, or-
2. See TITLES AND SOURCES OF SERIES at the back of
the report where series are listed numerically according to
series numbers within each of the report's sections.
Table 1. Summary of Recent Data and Current Changes for Principal Indicators
Basic data 1
Series title
Timing
classification3
Percent change
Unit
Average
of
1980
1981
4th Q
1981
3dQ
1981
measure
Feb.
1982
IstQ
1982
Mar.
1982
Feb.
to
Mar.
1982
Apr.
1982
Mar.
to
Apr.
1982
3dQ
to
4th Q
1981
4th Q
to
3
C
IstQ
£
1982
X
I. CYCLICAL INDICATORS
A. Composite Indexes
910. Twelve leading indicators .
920. Four coincident indicators
930. Six lagging indicators
Leading Indicator Subgroups:
913. Marginal employment adjustments
914. Capital investment commitments
91 5. Inventory investment and purchasing
916. Profitability
917. Money and financial flows
L,L,L
C,C,C
Lg.Lg.Lg
1967=100 ..
do
do. ...
131.2
140.3
176.8
133.1
141.4
187.9
133.2
142.4
193.8
127.9
138.4
185.4
124.8
135.2
183.2
124.8
136.1
184.0
124.2
135.3
183.5
125.2
134.7
184.0
-0.5
-0.6
-0.3
0.8
-0.4
0.3
-4.0
-2.8
-4.3
-2.4
-2.3
-1.2
910
920
930
L.L.L
L.L.L
L,L,L
L LL
L,L,L
do.
do.
do.
do
do.
92.9
107.2
101.0
90.8
135.6
92.9
103.1
102.4
92.9
138.3
93.2
102.1
103.0
92.8
138.0
89.9
99.3
99.8
90.4
136.1
NA
98.9
96.7
NA
135.8
NA
98.2
96.7
86.8
134.7
NA
99.6
95.9
NA
136.3
NA
99.3
95.2
NA
138.8
NA
1.4
-0.8
NA
1.2
NA
-0.3
-0.7
NA
1.8
-3.5
-2.7
-3.1
-2.6
-1.4
NA
-0.4
-3.1
NA
-0.2
913
914
915
916
917
39.7
2.8
3.5
480
1.7
1.5
39.8
2.8
3.2
446
1.6
1.3
39.8
2.9
3.2
433
1.4
1.4
39.3
2.5
2.9
536
2.2
1.1
38.6
2.3
NA
548
NA
NA
39.5
2.4
NA
514
NA
NA
39.0
2.3
NA
566
NA
NA
39.1
2.4
NA
566
NA
NA
-1.3
-0.1
NA
-10.1
NA
NA
0.3
0.1
NA
0.
NA
NA
-1.3
-0.4
-0.3
-23.8
-0.8
-0.3
-1.8
-0.2
NA
-2.2
NA
NA
0.508
0.429
0.439
0.360
0.290
0.254
-0.030 -0.036
-0.079
-0.044
119
118
110
0.316
102
0.320
129
103
96
88
-6.8
-8.3
-6.8
-7.3
60
46
1 6 9 . 8 3 1 7 0 . 8 3 170.05
95,938 97,030 97,286
9 0 , 5 6 4 91,548 91,938
25,718 2 5 , 6 7 6 2 5 , 9 3 3
170.21
96,723
91,489
25,395
1 6 9 . 4 4 168.17
96,144 9 6 , 0 3 2
90,760 90,562
24,609 24,435
-0.7
-0.1
-0.3
-0.9
-0.7
-0.1
-0.2
-0.7
0.1
-0.6
-0.5
-2.1
-0.7
-0.6
-0.7
-2.5
48
42
41
40
...
...
...
...
B. Cyclical Indicators by Economic Process
B1. Employment and Unemployment
Marginal Employment Adjustments:
*1. Average workweek, prod, workers, mfg
21. Avg. weekly overtime, prod, workers, mfg.2 . .
2. Accession rate, per 100 employees, mfg.2 . . . .
*5. Avg. weekly initial claims (inverted 4 )
3. Layoff rate, per 100 employ., mfg. (inv.4)2 . .
4. Quit rate, per 100 employees, mfg.2
L,L,L
L,C,L
L,L,L
L,C,L
L,L,L
L,Lg,U
Percent
Thousands. .
Percent
.....do. ...
Job Vacancies:
60. Ratio, help-wanted advertising to persons
unemployed2
46. Help-wanted advertising
ULg,U
L,Lg,U
Ratio
1967=100...
U,C,C
U,C,C
Thousands. .
L,C,U
do
do. ...
Comprehensive Employment:
48. Employee hours in nonagri. establishments . . .
42. Persons engaged in nonagri. activities
*41 Employees on nonagri payrolls
40. Employees in mfg., mining, construction . . . .
90. Ratio, civilian employment to total population of working age2
c,c,c
U,Lg,U
Hours
do. . . .
A.r., bil. hrs..
Percent
Comprehensive Unemployment:
37. Total unemployed (inverted 4 )
L,Lg,U Thousands . .
43. Unemployment rate, total (inverted 4 ) 2
L,Lg,U Percent
45. Avg. weekly insured unemploy.rate (inv. 4 ) 2 .. L,Lg,U
do. .. .
*91. Avg. duration of unemployment (inverted4) . . Lg,Lg,Lg Weeks
4 2
44. Unemploy. rate, 15 weeks and over (inv. ) . . Lg,Lg,Lg Percent
169.09 170.55
96,177 9 6 , 2 1 7
9 0 , 8 8 6 91,019
24,749 24,836
1
21
2
5
3
4
58.47
58.28
58.33
57.78
57.33
57.35
57.23
57.09
-0.12
-0.14
-0.55
-0.45
90
7,637
8,273
8,013
7.4
3.2
14.0
2.0
9,113
8.4
3.8
13.2
2.2
9,576
9,575
9,854
10,307
8.8
4.1
13.8
2.5
8.8
4.0
14.1
2.5
9.0
4.3
13.9
2.7
9.4
4.6
14.2
2.7
-2.9
-0.2
-0.3
1.4
-0.2
-4.6
-0.4
-0.3
-2.2
0.
-13.7
-1.0
-0.6
5.7
-0.2
-5.1
-0.4
-0.3
-4.5
-0.3
37
43
45
91
44
1 4 8 0 . 7 1510.3 1515.8 1 4 9 8 . 4
1207.5 1240.7 1247.9 1 2 4 7 . 6
1 0 4 3 . 2 1068.7 1073.0 1073.5
1482.2
1245.3
1069.6
1247.9
1072.8
1250.0 1254.3
1072.2 1074.0
0.2
-0.1
0.3
0.2
-1.1
0.
0.
-1.1
-0.2
-0.4
50
52
51
7.1
3.9
11.9
1.7
7.6
3.4
13.7
2.1
B2. 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:
*47 Industrial production, total
73. Industrial production, durable mfrs
74. Industrial production, nondurable mfrs
49. Value of goods output, 1972 dollars
Capacity Utilization:
82. Capacity utilization rate, mfg., FRB 2
83. Capacity utilization rate, mfg., BEA 2
c.c.c
c,c,c
CCC
A.r., bil. dol.
do. ...
do
C,C,C
do. ...
231.1
230.9
231.1
227.1
225.0
225.9
224.5
222.1
-0.6
-1.1
-1.7
-0.9
53
c.c.c
c,c,c
1967=100...
147.0
136.7
161.2
151.0
140.5
164.8
146.3
134.5
160.2
141.6
128.1
156.5
142.7
129.1
157.7
141.5
128.2
156.7
140.7
127.7
156.4
-0.8
-0.7
-0.6
-0.6
-0.4
-0.2
665.2
684.9
153.0
142.6
166.8
691.9
672.6
660.0
-4.4
-5.7
-4.0
-2.8
-3.2
-4.8
-2.3
-1.9
47
73
74
49
79.1
78
80.0
78.4
76
79.9
79.3
76
81.1
74.8
72
75.2
71.6
NA
71.9
-4.5
-4
-3.2
NA
82
83
84
79.32
38.30
33.73
85.07
38.24
34.03
87.78
39.06
79.17
34.51
1.00
31.20
-2.62
79.07
34.58
30.28
C,L,L
C,C,C
do. .. .
do. ...
A.r., bil. dol.
L,C,U
Percent
do. . . .
L CU
B3. Consumption, Trade, Orders, and
Deliveries
Orders and Deliveries:
6. New orders, durable goods
7. New orders, durable goods, 1972 dollars
*8. New orders, cons, goods and mtls., 1972 dol. .
25. Chg. in unfilled orders, durable goods2
96. Mfrs.' unfilled orders, durable goods5
*32. Vendor performance2 @
L.L.L
L,L,L
L,L,L
L,L,L
Bil. dol
.....do. ...
L,Lg,U
do. . . .
do. . . .
Bil. dol., EOP
L,L,L
Percent
Consumption and Trade:
C,C,C
56. Manufacturing and trade sales
*57. Manufacturing and trade sales, 1972 dollars . . C,C,C
C,L,C
75. Industrial production, consumer goods
C,L,U
54. Sales of retail stores
U,L,U
59. Sales of retail stores, 1972 dollars
L,C,C
55. Personal consumption expend., autos
58 Index of consumer sentiment @
L,L,L
Bil. dol
do. ...
1967=100...
Mil. dol
do. . . .
A.r., bil. dol.
I Q 1966=100
1.26
308.82
40
0.07
309.61 317.46
45
147.9
149.4
79.80
34.94
80.30
35.08
30.64
77.16
33.69
30.33
-0.20
30.61
-0.47
0.53
-2.55
309.61 309.03
308.50
309.03
306.48
34
36
35
31
3 4 4 . 3 6 341.12 3 4 3 . 4 5
151.29 1 4 9 . 5 9 1 5 0 . 8 8
343.35
151.32
NA
NA
142.5
46
320.11 3 4 9 . 8 5 3 5 3 . 7 5
1 5 4 . 6 3 156.12 1 5 6 . 5 9
145.4
34.74
144.2
141.0
141.7
141.7
7 9 , 3 2 5 8 6 , 5 6 6 8 7 , 6 9 2 8 6 , 5 7 3 8 6 , 7 0 1 8 7 , 6 5 4 87,128 88,310
4 3 , 4 8 5 4 4 , 0 6 0 4 4 , 313 4 3 , 1 2 8 4 2 , 8 0 2 4 3 , 2 8 6 4 3 , 0 9 0 4 3 , 8 2 6
61.8
64.4
68.0
70.7
70.2
74.8
121.1
113.4
112.4
62.9
65.7
69.5
66.5
66.5
0.6
0.4
0.1
1.00
0.2
-1
-3.9
-4.0
-1.0
-3.08
-0.8
-4
-9.8
-11.1
-9.6
-3.62
-2.5
-13
-0.1
-0.5
-2.9
2.42
-0.2
1
6
7
8
25
96
32
0.
0.3
C.
-0.6
-0.5
NA
NA
0.6
1.4
1.7
-2.7
-3.4
-3 .5
-1.3
-2.7
-10.4
-12.2
-0.9
-1.1
-2.2
0.1
-0.8
10.5
1.2
56
57
75
54
59
55
58
NA
NA
12
13
62.0
65.5
-6.8
5.6
NA
NA
NA
NA
NA
NA
NA
NA
B4. Fixed Capital Investment
Formation of Business Enterprises:
*1 2 Net business formation
13. New business incoroorations
L,L,L
L.L.L
1967=100,..
Number. . . .
107.5
44,293 48,384 48.828 48.305
NA
NA
NA
NA
-4.4
-1 . 1
Basic data 1
Series title
Timing
classification3
Percent change
Unit
Feb.
to
Mar.
1982
Average
of
measure
1980
1981
3dQ
1981
4th Q
1981
IstQ
1982
Feb.
1982
Mar.
1982
Apr.
1982
Mar.
to
Apr.
1982
3dQ
to
4th Q
1981
4th Q
to
IstQ
1982
Series number
Table 1. Summary of Recent Data and Current Changes for Principal Indicators —Continued
I. CYCLICAL INDICATORS-Con.
B4. Fixed Capital Investment-Con.
Business Investment Commitments:
10. Contracts and orders, plant and equipment . . . L,L,L
*20. Contr. and orders, plant and equip.,
1972dol
L LL
24. New orders, cap. goods indus., nondefense . . .
L,L,L
27. New orders, capital goods industries, nondefense, 1972 dollars
L,L,L
9. Construction contracts, commercial and industrial buildings, floor space
L.C.U
11. New capital appropriations, mfg
U,Lg,U
5
97. Backlog of capital appropriations, mfg.
C,Lg,Lg
Bil. dol
do. . . .
27.34
27.40
26.36
25.47
24.38
25.86
24.35
6.1
-5.8
-3.8
-3.4
10
13.80
13.83
13.87
13.51
12.08
21.04
13.16
8.9
6.3
-7.5
-4.9
-2.6
-6.5
-5.7
-3.5
20
24
. . . . . d o . ...
22.55
23.46
23.99
22.44
12.74
21.66
22.37
12.17
21.27
do. .. .
12.37
12.14
12.39
11.82
11.11
10. '66
11.68
10.87
9.6
-6.9
-4.6
-6.0
27
Mil. sq.ft. . .
77.81
73.42
57.32
-3.0
-9.3
26.51
97.34
92.04
61.52
NA
NA
63.17
25.90
90.73
71.89
22.61
65.10
Bil. dol
Bil. dol., EOP
77.72
26.33
92.04
-2.1
-14.7
-5.4
-14.4
NA
NA
9
11
97
295.63
321.49 3 2 8 . 2 5
327.83
-0.1
0.8
61
310.98
338.84
335.23
340.22
338.58
173.2
158.4
181.1
162.4
184.0
163.9
179.5
162.7
170.7
162.4
171.5
168.4
NA
165.7
-0.5
-1.8
NA
-1.6
-0.2
-2.4
-0.7
-2.4
-4.9
-0.2
69
76
86
1,292
96.7
48.1
1,087
80.0
45.2
962
71.4
42.7
865
61.3
39.4
924
65.9
38.9
945
64.0
941
68.7
881
71.0
-0.4
7.3
-6.4
3.3
-10.1
-14.1
-7.7
6.8
7.5
-1.3
28
29
89
4.2
-17.2
-10.7
-21.4
30
2 . 0 8 -21.10 - 2 3 . 6 1 - 2 5 . 9 6
14.5
-29.6
-25.7
-29.1
-1.79
-2.36
-1.92
-1.90
NA
NA
NA
-2.35
-3.4
-0.02
NA
NA
NA
-7.69
-41.1
-2.62
-23.18
-44.1
-0.57
36
31
38
NA
NA
NA
-0.5
-0.2
0.8
NA
NA
NA
1.0
0.1
0.1
-1.4
-1.6
1.5
71
70
65
Business Investment Expenditures:
61. Business expend., new plant and equipment .. C,Lg,Lg A.r., bil. dol.
69. Machinery and equipment sales and business
do. ...
construction expenditures
C,Lg,Lg
76. Industrial production, business equip
C,Lg,U 1967=100...
86. Nonresid. fixed investment, total, 1972 dol. . . C,Lg,C A.r., bil. dol.
Residential Construction Commitments and
Investment:
28. New private housing units started, total
*29. New building permits, private housing
89. Fixed investment, residential, 1972 dol
25.68
344.11 3 4 3 . 5 8
L,L,L
L,L,L
L,L,L
A.r., thous. .
1967=100...
L,L,L
do. . . .
-2.9
7.1
14.9
L,L,L
L,L,L
L,L,L
do. ...
-9.60
31.0
0.38
1.62
36.6
0.10
9.77
55.6
0.83
A.r., bil. dol.
85. Inventories and Inventory Investment
Inventory Investment:
30. Chg. in business inventories, 1972 dol.2
*36. Change in inventories on hand and on order,
1972 dollars (smoothed 6 ) 2
31. Chg. in book value, mfg. and trade invent.2 ..
38. Chg. in mtl. stocks on hand and on order2 . . .
Inventories on Hand and on Order:
71. Mfg. and trade inventories, total 5
*70. Mfg. and trade invent., total, 1972 dol. 5
65. Mfrs.' inventories of finished goods5
77. Ratio, inventories to sales, mfg. and trade,
constant dollars 2
78. Materials and supplies, stocks on hand and on
order 5
.....do. ...
Bil. dol
Lg,Lg,Lg Bil. dol., EOP
do, . . .
Lg,Lg,Lg
do. .. .
Lg,Lg,Lg
Lg.Lg.Lg Ratio
475.20
262.97
76.56
1.71
513.29 5 0 8 . 1 3 5 1 3 . 2 9 5 0 5 . 8 9
268.78 268.53 268.78 264.57
83.85
83.78
83.85
85.07
1.70
1.71
1.76
1.75
NA
-0.01
NA
0.07
0.
77
219.41 2 1 2 . 3 2 2 1 4 . 2 4
212.32
NA
-0.9
NA
-2.4
-3.2
78
-1.42
-1.67
254.5
247.4
-0.65
-2.5
-0.25
-2.8
-0.84
-5.5
-0.66
-4.1
92
23
110.84 116.31
-3.2
4.9
-2.8
-6.5
19
118.8
58.1
98.9
48.6
NA
94.7
-7.9
-7.8
-7.5
-9.0
-0.5
-0.8
-17.5
-17.6
-9.1
-9.3
NA
-1.4
16
18
79
80
15
26
1.78
1.78
L,Lg,Lg Bil. dol., EOP
218.24
1.49
1.27
0.60
-0.24
-0.90
298.0
283.4
286.4
270.6
259.6
118.78 1 2 8 . 0 4 1 2 5 . 6 8
122.17
219.41 2 2 4 . 7 7
508.32 505.89
265.13 2 6 4 . 5 7
84.39
85.07
B6. Prices, Costs, and Profits
Sensitive Commodity Prices:
*92. Chg. in sensitive prices (smoothed 6 ) 2
23. Spot market prices, raw industrials ©
L,L,L
U,L,L
Percent
1967=100...
Stock Prices:
*19. Stock prices, 500 common stocks (u)
L,L,L
1941-43=10.
Profits and Profit Margins:
16. Corporate profits after taxes
18. Corp. prof its after taxes, 1972 dollars . . .
79. Corp. profits after taxes with IVA and CCAdj . . .
80
do
in 1972 dol
15. Profits (after taxes) per dol. of sales, mfg,2 . . .
26. Ratio, price to unit labor cost nonfarm bus . . . . .
L,L,L
L,L,L
L,C,L
L,C,L
L,L,L
L,L,L
A.r., bil.
do.
do.
do.
Cash Flows:
34. Net cash flow, corporate
35. Net cash flow, corporate, 1972 dollars
L,L,L
L,L,L
Unit Labor Costs and Labor Share:
63. Unit labor cost, private business sector
68. Labor cost (cur. dol.) per unit of gross
domestic product (1972), nonfin. corp
*62. Labor cost per unit of output, mfg
64. Compensation of employees as percent of
national income2
-0.77
261.0
114.21 114.50
163.2
88.8
100.3
55.1
4.8
96.3
155.5
78.4
113.9
57.7
4.7
96.8
156.3
76.5
117.6
58.9
4.8
96.8
144.0
70.5
108.8
53.6
4.3
96.0
A.r., bil. dol.
do. . . .
265.4
276.3
279.2
273.0
254.0
141.8
136.5
136.4
130.4
120.6
-2.2
-4.4
-7.0
-7.5
34
35
Lg,Lg,Lg 1977=100...
132.4
144.0
145.2
149.7
15^.0
3.1
2.2
63
Lg,Lg,Lg Dollars
Lg,Lg,Lg 1967=100...
1.196
195.0
1.285
211.0
1.295
211.3
1.336
221.2
1.365
229.3
3.2
4.7
2.2
3.7
68
62
75.3
75.5
75.3
75.9
77.0
0.6
1.1
64
0.53
0.72
0.75
0.52
0.80
0.92
197.6
0.22
0.71
0.99
195.4
0.74
0.82
0.89
194.5
803.6
802.2
804.6
0.55
0.77
0.68
197.9
817.8
0.52
0.11
-0.10
-0.5
0.3
-0.19
-0.05
-0.21
1.7
1.6
85
102
104
105
106
6.810
1.376
6.886
6.866
6.678
1.381
1.376
1.357
- 0 . 0 2 0 -0.188
- 0 . 0 0 5 -0.019
107
108
41.59
18.05
30.79
16.77
27.82
20.87
6.27
305.72 286.27 260.98
-3.43
21.20
-0.24
NA
33
112
113
110
dol.
...
...
...
Cents
1977=100...
Lg,Lg,Lg Percent
228.8
228.6
228.3
-0.1
-0.1
B7. Money and Credit
Money:
85. Change in money supply (M1) 2
102. Change in money supply (M2) 2
*104. Chg. in total liquid assets (smoothed 6 ) 2
105. Money supply (M1), 1972 dollars
*106. Money supply (M2), 1972 dollars
L,L,L
L,C,U
L,L,L
L,L,L
L,L,L
do. ...
do. . . .
Bil. dol
do. . . .
Velocity of Money:
107. Ratio, GNP to money supply (M1) 2
108. Ratio, pers. income to money supply (M2) 2 ..
C,C,C
Ratio. . . . . .
6.543
C,Lg,C
do. ...
1.357
Credit
33.
11 2
1 13.
1 10.
Flows:
Change in mortgage debt 2
Change in business loans2
Change in consumer installment credit 2
Total private borrowing
L,L,L
L,L,L
L,L,L
L,L,L
Percent. . . .
A.r., bil.
do.
do.
do.
dol.
.. .
...
...
203.7
807.8
61.48
17.21
2.63
292.75
41.03
19.40
-0.29
0.36
0.65
197.3
814.8
0.20
0.94
0.62
198.2
0.91
0.79
0.74
199.5
824.8
829.2
1,360
1.353
1.347
14.62
16.34
37.97
58.09
NA -11.53
53.56 -48.90
6.03
NA
0.90
4.81
9.19
11.88
NA
0.49
0.58
-0.03
0.5
1.2
0.71
-0.15
0.12
0.7
0.5
-0.007 -0.006
10.98
NA
44.37
NA
-23.54
-14.02
-21.55
-8.8
Table 1. Summary of Recent Data and Current Changes for Principal Indicators —Continued
Basic data 1
Series title
Timing
classification3
Percent change
-S
Unit
of
measure
Average
1980
1981
3dQ
1981
4th Q
1981
IstQ
1982
Feb.
1982
Mar.
1982
Apr.
1982
Feb.
to
Mar.
1982
Mar.
to
Apr.
1982
3dQ
to
4th Q
1981
4th Q
to
IstQ
1982
c
.8
£
I. CYCLICAL INDICATORS-Con.
B7. Money and Credit-Con.
Credit Difficulties:
14. Liabilities of business failures (inv.4)®
39. Delinquency rate, instal. loans (inv. 4 ) 2 s . . . .
L.L.L
L.L.L
Mil. do)
Percent, EOF
286.26
2.57
Bank Reserves:
93. Free reserves (inverted 4 ) 2 ©
94. Borrowing from the Federal Reserve2©
L.U.U
L,Lg,U
Mil.dol
do. . . .
-1,141 -1,051 -1,164
1,420
1,516
1,359
Interest Rates:
119. Federal funds rate 2 ®
1 14. Treasury bill rate 2 ®
115. Treasury bond yields2®
1 16. Corporate bond yields2®
117 Municipal bond yields2®
118 Mortgage yields residential2®
67. Bank rates on short-term bus. loans2®
*109. Average prime rate charged by banks2®
Outstanding Debt:
66. Consumer installment credit5
*72. Commercial and industrial loans outstanding,
weekly reporting large comm. banks
"95. Ratio, consumer install, credit to pers. income2 .
L,Lg,Lg Percent
do.
C,Lg,Lg
do.
C.Lg.Lg
do.
Lg,Lg,Lg
do.
U,Lg,Lg
do.
Lg,Lg,Lg
do.
Lg,Lg,Lg
do.
Lg,Lg,Lg
...
...
...
...
...
...
. ..
12.36
11.61
10.81
12.77
8.60
13.42
15.17
15.27
NA
2.37
16.38
14.08
12.87
15.48
11.33
16.31
19.56
18.87
NA
2.28
17.58
15.09
13.60
16.33
12.11
17.76
21.11
20.32
NA
NA
NA
0.15
NA
NA
NA
-0.09
NA
0.13
14
39
-515 -1,256 -1,414 -1,254 -1,234
1,713
827
1,617
1,611
1,580
-160
-102
-20
-31
-649
-689
741
790
93
94
-3.99
-2.07
-0.27
-0.32
0.43
-1.15
-2.88
-2.31
0.64
0.87
0.22
0.13
0.48
0.35
-0.10
-0.74
119
114
115
116
117
118
67
109
NA
2.37
NA
2.24
14.23
12.89
13.45
16.14
13.02
16.96
17.13
16.27
NA
2.39
NA
2.24
14.78
13.78
13.63
16.35
12.97
17.10
14.68
12.49
12.98
15.72
12.82
16.41
14.94
12.82
12.84
15.62
12.58
16.31
-0.10
-1.29
-0.65
-0.63
-0.15
-0.69
0.26
0.33
-0.14
-0.10
-0.24
-0.10
16.56
16.50
16.50
-0.06
0.
327.60 328.59
NA
0.3
NA
0.5
0.5
66
191.22 2 0 0 . 2 5 201.61 2 0 2 . 3 8
13.03
13.04
13.15
13.06
206.84
NA
0.4
-0.01
2.2
NA
2.5
-0.07
4.7
-0.09
72
95
13.59
12.02
13.23
16.01
12.54
16.61
17.23
17.01
Lg,Lg,Lg Bil.dol., EOP
306.21 327.08 225.51 327.08 328.59
Lg,Lg,Lg Bil.dol
Lg,Lg,Lg Percent
164.51 182.24 1 8 6 . 6 3
14.15
13.27
13.22
II. OTHER IMPORTANT ECONOMIC
MEASURES
B. Prices, Wages, and Productivity
81 . Price Movements
310.
320.
320c.
322
330.
331.
332.
333
334.
Implicit price deflator, GNP
Consumer prices (CPI), all items ®
Change in CPI, all items, S/A2
CPI food
Producer prices (PPI). all commodities ®
PPI, crude materials
PPI, intermediate materials
PPI capital equipment
PPI, finished consumer goods
1972=100...
1967=100...
Percent
1967=100. . .
177.4
246.8
1.0
254.6
193.7
272.4
0.7
274.6
195.6
276.7
1.0
276.6
200.1
280.7
0.4
279.3
201.8
282.0
0.1
282.3
282.4
0.2
283.2
283.1
-0.3
282.2
284.3
0.2
283.0
-0.1
-0.5
-0.4
0.4
0.5
0.3
2.3
1.4
-0.6
1.0
0.8
0.8
-C.3
1.1
310
320
320
322
do.
do.
do.
do.
do.
268.8
304.6
280.3
239.8
248.9
293.4
329.0
306.0
264.3
271.3
296.1
332.5
209.2
266.9
273.4
295.8
318.1
310.5
272.4
276.1
298.2
317.0
311.4
274.9
277.5
298.5
317.3
311.4
274.1
277.7
297.9
314.6
210.4
275.5
276.8
297.9
320.2
208.5
276.5
276.8
-0.2
-0.9
-0.3
0.5
-0.3
0.
1.8
-0.6
0.4
0.
-0.1
-4.6
0.4
2.1
1.0
0.8
-0.3
0.3
0.9
0.5
330
331
332
333
334
1977=100...
127.3
138.9
140.4
142.9
145.4
145.3
145.7
146.4
0.3
0.5
1.8
1.7
340
do.
do.
do.
do.
92.6
130.5
96.0
99.3
92.6
143.6
95.7
100.4
92.3
145.4
95.6
100.9
92.3
147.6
95.2
99.2
93.2
150.6
96.4
98.9
92.9
92.5
93.8
0.6
0.3
0.
1.5
-0.4
-1.7
1.0
2.0
1.3
-0.3
341
345
346
370
1 0 6 . 9 4 108.67 108.67 109.16 109.13 109.16 1 0 9 . 3 5 109.65
9 9 . 3 0 100.40 100.65 100.04
99.55
99.59
99.34
99.49
7,637
8,273
8,013
9,113
9,575
9 , 8 5 4 10,307
9,576
3,353
3,442
3,615
4,351
4,166
4,742
4,407
4,548
2,615
2,872
2,895
2,286
3,100
3,275
3,435
3,586
1,669
1,763
1,699
1,893
1,847
1,928
1,870
1,979
0.2
-0.1
2.9
4.5
4.5
-3.5
0.3
-0.2
4.6
4.3
4.4
5.8
0.5
-0.6
13.7
21.0
7.9
8.7
0.
-0.5
5.1
5.8
5.6
2.5
441
442
37
444
445
446
0.
0.2
-0.8
0.2
0.
0.5
0.
0.2
-0.3
-0.4
-0.1
-0.4
451
452
453
-1.7
4.8
-44.3
1.0
1.6
-1.9
-2.1
0.9
-26.4
1.2
1.2
0.5
501
502
500
511
512
510
...
.. .
...
.. .
. ..
82. Wages and Productivity
340. Average hourly earnings, production workers,
private nonfarm economy
341 . Real average hourly earnings, production
workers, private nonfarm economy
345. Average hourly compensation, nonfarm bus. . .
346. Real avg. hourly comp., nonfarm business . . .
370. Output per hour, private business sector
...
...
.. .
...
C. Labor Force, Employment, and
Unemployment
441 .
442.
37.
444
445.
446.
Labor
451.
452.
453.
Total civilian labor force.
Total civilian employment
Number of persons unemployed
Unemployed males 20 years and over
Unemployed females, 20 years and over
Unemployed persons, 16-19 years of age
Millions ....
do. . . .
Thousands. .
do. . . .
do. . . .
do, ...
Force Participation Rates:
Males, 20 years and over 2
Females, 20 years and over2
Both sexes, 16-19 years of age2
Percent
do. . . .
do. . . .
79.4
51.3
56.7
79.0
52.1
55.4
A.r.,bil.dol.
do. . . .
do. ...
do. . . .
do. . . .
do. ...
540.8
602.0
-61.2
384.0
355.0
29.1
626.0
688.4
-62.4
417.2
380.5
36.7
78.9
52.1
54.9
78.9
52.3
54.6
78.5
52.2
54.2
78.5
52.2
54.6
78.5
52.4
52.8
78.7
52.4
54.3
D. Government Activities
D1. Receipts and Expenditures
501.
502.
500.
511.
512.
510.
Federal Government receipts
Federal Government expenditures
Federal Government surplus or deficit 2
State and local government receipts
State and local government expenditures . . . .
State and local govt. surplus or deficit2.
638.3
627.2
607.5
694.0
727.2
733.9
- 5 5 . 7 -100.0 -126.4
419.6
423.7
429.0
381.8
387.8
392.6
37.8
35.9
36.4
D2. Defense Indicators
51 7
525
548
564.
Defense Department obligations
Military prime contract awards
New orders defense products
National defense purchases
Mil.dol
do. . . .
do. ...
A.r.,bil.dol.
1 3 , 3 9 2 15,945 16,931 16,124 19,613 2 0 , 6 0 8 18,869
6,754
8,065
9,225
7 , 7 7 7 11,129 13,761 9 , 8 7 0
4,662
5,204
7,763
5,932
4,905
7,924
8,669
154.3
131.7
154.1 169.7
170.2
NA
NA
5,811
-8.4
-28.3
-8.6
NA
NA
-26.7
-4.8
-15.7
-17.3
10.1
21.6
42.1
58.3
0.3
517
525
548
564
Mil.dol.
do.
do.
do.
do.
do.
18,390 19,456 19,290 19,067 18,681 18,704 18,602
3,435
2,608
3,285
2,466
3,590
2,225
3,358
3,788
5,111
4,456
4,054
2,997
4,236
4,132
2 0 , 7 7 1 21,751 2 1 , 5 4 3 21,777 2 0 , 7 5 6 19,090 2 0 , 3 4 9
6,139
6,319
5,815
4,290
5,747
5,165
4,396
2,030
2,190
2,229
2,289
2,373
2,135
2,596
NA
NA
NA
NA
NA
NA
-0.5
-10.2
-1.4
6.6
-2.4
21.6
NA
NA
NA
NA
NA
NA
-1.2
5.5
-17.1
1.1
-1.2
2.7
-2.0
-3.1
-2.5
-4.7
-10.1
3.7
602
604
606
612
614
616
E. U.S. International Transactions
E1 . Merchandise Trade
602.
604.
606.
612.
614.
616.
Exports, total except military aid
Exports of agricultural products
Exports of nonelectrical machinery
General imports, total
Imports of petroleum and products
Imports of automobiles and parts
...
. ..
...
.. .
. ..
. ..
Table 1. Summary of Recent Data and Current Changes for Principal Indicators—Continued
Basic data1
Unit
Aveiage
of
Series title
4th Q
1980
measure
1979
1980
1981
^
ft rcent change
IstQ
2dQ
3dQ
WiQ
IstQ
1981
1981
1981
1981
1982
2dQ
to
3dQ
1981
3dQ
to
4th Q
1981
-4.2
-0.1
4th Q
lo
IstQ
1982
3
c
B
s
II. OTHER IMPORTANT ECONOMIC
MEASURES-Con.
E2. Goods and Services Movements Except
Transfers Under Military Grants
Mil. dol
46,118 5 5 , 9 9 2 5 9 , 0 6 0 5 7 , 1 4 9 6 0 , 7 1 7
5 2 , 9 5 5 62 327
62 719
do
do
do
do
do
do
do
667. Balance on goods and services2
60,234
57,687
65 540
r6 , 8 " 6 -6 335
6,597 -7,853
-5 570 -4 276
1 6 , 6 7 5 18 985 22 , 514 19 764 21 , 581 2 2 , 4 1 3 23 , 301
8, 310 10 794 13 325 11 507
13 , 649 14 043
94 046
72,232
70, 480
3,963
1,752
2,696
3,335
3,734
2,730
4,861
57,604 55,809
6 6 , 7 5 3 61 754
-9, 149
22 , 762
13,111
92,617
1,786
-1.9
1.9
5 , 9 4 5 -1 , 256 -1,296
NA
4.0
-2.3
NA
2.9
-6 .6
NA
-1.0
-1.5
NA
0.8
-2 . 4
NA
1,233 - 2 , 1 7 7
-3.1
-7.5
3,204
NA
NA
NA
NA
NA
618
620
622
651
652
668
669
667
A. National Income and Product
A1. GNPand Personal Income
50
200
213
224.
225.
217
GNPin 1972dollars
GNP in current dollars
Final sales 1972 dollars
Disposable personal income, current dollars
Disposable personal income, 1972 dollars
Per capita GNPin 1972 dollars
A.r., bil.dol . . . . 1 4 8 3 . 0
do
do
do
do
...
1480 .7 1510 . 3 1485 .6 1516 . 4 151C .4 1515.8 1498 .4 1 4 8 2 . 2
0.4
0 1
1641.7
1011.5
6 , 588
do . . .
4,493
1821 7 2016
0 1897 .0 1947
1018.4 1 0 4 0 . 4
6 504
4 47 T
6
570
4,526
1025.8
6
4
499
488
8 1985. 6
1033.3
6, 620
4 511
1036.8
6
4
580
517
2042.0
1043.6
6 , 586
4 , 535
2088 . 5 2113 .0
1047.9 1 0 4 7 . 7
6 ,494
4 , 541
6,410
4 , 531
2.8
0.7
0.1
0.4
-1.1
1 1
-0.4
2.3
0.4
-1.4
0.1
1.2
0.
-1.3
-0.2
50
200
213
224
225
217
227
-0.6
-5.1
0.
0.4
1.3
-4.1
1.2
2.8
0.7
3.7
-0.3
0.7
1.9
4.5
0.2
2.8
231
233
238
239
230
232
236
237
-6.9
-2.1
-10.7
-4.3
-0,4
-18.1
-10.8
-0.4
-21.4
-11.7
-0.8
-48.7
241
243
30
240
242
245
0.
1.0
-0.7
0 7
0.3
1.0
261
263
267
260
262
266
-3.4
-3.7
-1.0
-2.5
-3.8
3.9
256
257
255
252
253
250
-1.1
0 2
A2. Personal Consumption Expenditures
231
233.
238.
239
Total 1972 dollars
Durable goods, 1972 dollars
Nondurable goods, 1972 dollars
Services 1972 dollars
.
. . .
232. Durable goods, current dollars
236. Nondurable goods, current dollars
964.4
A r ,bil d o l . . . .
930.9
946.8
960 . 2 9 5 5 . 1
962.8
957.5
935.1
958.9
146.8
140.3
133.1
138.0
do
135.8
139.4
139.1
137.4
146.6
367.3
do
354.6
358.4
360.4
364.5
368.8
367.6
367.0
368.8
do
440.9
452.2
450.7
45" .7
458.9
429.6
447.3
448.9
455.6
do
1510.9 1672.8 1857 .8 1751.0 1810.1 1829.1 1 8 8 3 . 9 1908.3 1 9 4 5 . 1
238.3
do
212.3
211.9
232.0
223.3
227.3
236.2
226.4
236.5
do
726.0
735.3
751.3
760.3
761.6
602.2
675.7
743.2
703.5
. .do . .
696.3
896.4
946.9
785.2
882.6
824,2
845.8
866.5
921.5
0.8
2.1
0.5
0.7
3.0
2.9
2.2
3.5
A3. Gross Private Domestic Investment
241
243.
30.
240
.
Total 1972 dollars
Total fixed investment, 1972 dollars
Change in business inventories, 1972 dol.2
Total current dollars
do
do
do
do
do
do
...
232.6
222.5
203.6
206.6
214.8
207.6
200.5
207.6
10.2
415.8
398 . ^
17.5
-2.9
7.1
-7.2
211.6
213.1
-1.4
437.1
395.3
450.5
397.7
401 2
-5 9
434 4
16 2
415 1
-17 4
4 5
290.0
291.7
111.5
180.2
289.8
107.4
182.4
219.7
221.5
206.3
208.9
206.5
10.8
14.9
202.1
4.2
458.6
435.3
463.0
9.4
184.1
201.3
-17.2
391.4
430 7
-39 .3
288.3
295.4
295.4
109.6
178.8
116.6
178.8
117.8
177.6
4
23 3
435 6
27 5
293.6
289.5
111,2
182.5
108.7
180.7
443.3
434.0
0.8
-1.1
4.1
1.0
0.1
4.2
A4. Government Purchases
of Goods and Services
261. Total, 1972 dollars
263. Federal Government, 1972 dollars
267. State and local governments, 1972 dollars
266. State and local governments, current dollars . . .
do
to
do
do
do
do
281.8
101.7
180.1
47-5 g
167 .9
221 6
219 .5
226
3.1
346.6
354.9
357.9
362.5
253.3
368.7
254 .0
335.8
230 2
361.0
212 0
305.9
372.5
1.3
2.5
6.4
0.
5 6
11.9
1.7
bo
do
do
do
do
do
146.9
109.2
37,7
281, ^
161.1
109.1
52.0
339 8
316.5
23.3
160.4
115.5
44.9
367 . 3
341.3
26.0
157.4
108.9
48.5
346 1
162.5
111.6
50.9
367 ,4
161.5
115.4
46.2
368 2
160.1
116.9
43.2
157.4
118.2
39.2
152.1
113.8
38.2
J38.2
347.5
368.0
338.7
365.6
322.7
356.5
327.9
23.3
29.2
20.8
29.3
28.6
-0.9
1.3
-3.0
-0.1
-2.5
8.5
-1.7
1.1
-4.0
-0.7
0.7
-4.6
1821.3 1 8 4 4 . 2
2.2
1.7
1.3
280
149.9
34.8
2.8
1.8
-9.2
1.8
-15.6
0.9
286
284
''75 2
2 .9
0 1
-1.2
295
108.1
181.9
198 9
-0.4
0.8
-1.1
2 o
A5. Foreign Trade
256. Exports of goods and services, 1972 dollars ...
257. Imports of goods and services, 1972 dollars . . .
255. Net exports of goods and serv., 1972 dol.2
253. Imports of goods and services, current do!
250. Net exports of goods and serv., current dot. 2 . .
267.9
13,4
341.0
24.7
A6. National Income and Its Components
do
do
do
bo
do
do
280. Compensation of employees
286. Corporate profits with IVA and CCAdj
284. Rental income of persons with CCAdj
1460,9
1596.5 1771.6
196.8
30.5
182.7
31.8
312 7
'<" 1 6
191.7
33.6
1661.8
183.3
32.4
1722.4
203.0
32.7
1752.0 1790.7
190.3
33.3
195.7
33.9
368 7
379
177.6
34.5
A7. Saving
..
. do. .
..do
do
do
..
339
3
3
0 9
N OTE; Series are seasonally adjusted except tor those indicated by @, which appear to contain no seasonal movement. Series indicated by an asterisk (*) are included in the major composite indexes. Dollar values are in
current dollars unless otherwise specified. For complete series titles (including composition of the composite indexes) and sources, see "Titles and Sources of Series" at the back of BCD. NA = not available, a = anticipated.
EOP = end of period. A.r. - annual rate. S/A - seasonally adjusted (used for special emphasis). IVA - inventory valuation adjustment. CCA * capital consumption adjustment. N!A = national income accounts.
1
For a few series, data shown here have been rounded to fewer digits than those shown elsewhere in BCD. Annual figures published by the source agencies are used if available.
2
Differences rather than percent changes are shown for this series.
3
The three-part timing code indicates the timing classification of the series at peaks, at troughs, and at all turns: L= leading; C = roughly coincident; Lg = lagging; U = unclassified.
4
Inverted series. Since this series tends to move counter to movements in general business activity, signs of the changes are reversed.
s
End-of-period series. The annual figures (and quarterly figures for monthly series) are the last figures for the period.
6
This series is a weighted 4-term moving average (with weights 1, 2, 2,1) placed at the terminal month of the span.
CYCLICAL INDICATORS
COMPOSITE INDEXES AND THEIR COMPONENTS
Chart Al. Composite Indexes
| Index: 1967 »100
910* index of twelve leading indicators
s "(series if, 5,8,12, 19, 20, 29, 32, 36, 92,104,106)
$20. Index of four roughly coincident indicators
f^
?i
(series 41, 47, 51, 57)
-*—-—--^,
(sep 62, 70, 72, 91, 95, 109)
J
"
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
MAY 1982
BCD
CYCLICAL INDICATORS
COMPOSITE INDEXES AND THEIR COMPONENTS—Continued
Chart Al. Composite Indexes—Continued
_ 9 913. Marginal employment adjustments (series 1, 2, 3, 5)
914. Capital investment commitments (series 12, 20, 29)
lentory investetent and purchasing (series 8, 32, 36, 92)
-3 916. Profitability (series 19, 26, 80)
Money fil financiaHlows (series 104,106,110)
-^
946, Ratio, coincident index to lagging index
194849 50 51 52 y; ' ' •:. '-
•
—
81 82 (983
NOTE: Numbers entered on the chart indicate length of leads (-) and lags ( + ) in months from reference turning dates.
Current data for these series are shown on page 60.
BCII
MAY 1982
11
CYCLICAL INDICATORS
COMPOSITE INDEXES AND THEIR COMPONENTS—Continued
Chart A2. Leading Index Components
• i
1. Average workweek, production workers,
manufacturing (hours)
y»e^'Y,initi?l tlaiim. State
(thiiands-inverted scale)
8, New orders fof,
MM. *>i-)
*
32. fendor performance, percent of compaws receiving
deliveries (percent)
12. Net business formation (index: 1967*100)
20. Contracts and orders for plant and equipment,
/a 79 80 Hi 821983
Current data for these series are shown on pages 61, 64, 65, and 66.
12
MAY 1982
ltd*
CYCLICAL INDICATOKS
A
COMPOSITE INDEXES AND THEIR COMPONENTS—Continued
Chart A2. Leading Index Components—Continued
ivate housing units (index: 1967
, fin
and on order, 19/2 dollars, smcffBd1 (am. t
crude materials prices, smoothed1 (percent)
, smoothed1 (percent) I ILL
19. Stodi
ices, 5
supply-M2-m 1972 dollars (bl.
194849 50 51 52 53 54 *>*,
73 74 75 76 77 78 79 80 81 821983
'This is a weighted 4-term moving average (with weights 1,2,2,1) placed on the terminal month of the span.
Current data for these series are shown on pages 67, 68, 69, and 71.
ItCII
MAY 1982
13
CYCLICAL INDICATORS
A I
COMPOSITE INDEXES AND THEIR COMPONENTS—Continued
Chart A3. Coincident Index Components
41. iBnptoyees on nonagricultural payrolls (miions)
51. Personal income less transfer
1972 dollars (arm. rate, bil. <W.)
47. Industrial production, total (inde«l867=100!\S
\
V
57. Manufacturing and trade
1972 dollars (bil. dot)
cZc
194849
50
51 52
53 54
55
56 57 5<< - • ' '
<•>'.
62
63 F-4
Current data for these series are shown on pages 62, 63, and 65.
Digitized for14
FRASER
MAY 1982
BCII
CYCLICAL INDICATORS
A I
COMPOSITE INDEXES AND THEIR COMPONENTS—Continued
L^^__^
Chart A4. Lagging Index Components
91. Average duration of unemployment (weeks—inverted scale)
70. Manufacturing and trade inventories, 1972 dollars (bl
62. Labor cost per unit of output, manufacturing (index: 1967=100)
IDS. Average prime rate charged by banks (percent)
72. Commercial and industrial loans outstanding, weekly
reporting: large commercial banks (bil. dol.)
95. Ratio, consumer installment credit to personal income (percent)
80 81 82 1983
Current data for these series are shown on pages 62, 68, 70, and 73.
ItCII
MAY 1982
15
CYCLICAL INDICATORS
B I
CYCLICAL INDICATORS BY ECONOMIC PROCESS
Chart Bl. Employment and Unemployment
1. Average workweek, production workers, manufacturing (hours)
LL
38J
21. Average weekly overtime hours, production workers, manufacturing (hours)
2. Accession rate, manufacturing (per 100 employees)
5-j
3-1
5. Average weekly initial claims, State unemployment insurance (thousands—inverted scale)
cl
200-
300-
400-
500600'00-
3. Layoff rate, manufacturing (per 100 employees—inverted scale) |L,
1-1
4. Quit rate, manufacturing (per 100 employees)
1956
57
58
59
60
61
62
6J
?0
81
82 1983
Current data for these series are shown on page 61.
16
MAY 1982
ItCII
CYCLICAL INDICATORS
BI
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued
Chart Bl. Employment and Unemployment—Continued
60. Ratio, help-wanted advertising to number
of persons unemptowd (ratio)
46. Help-wanted advertising (index: 1967=100)
r~»
ii—
A..
s
48. Employee-hours in nonafricultural establishments
(ann. rate, bit. hours)
42. Persons engaged hi nonagricultural activities
41. Employees on nonagricalferal payrofe (millions)
manufacturing, construction (millions)
1956
57
58
59
6(J
hi
;:;•'
i
7H
79
80
81
82
1983
Current data for these series are shown on pages 61 and 62.
IK:
MAY 1982
17
CYCLICAL INDICATORS
B I
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued
Chart Bl. Employment and Unemployment—Continued
[Conw^iensive Employment—Con.
60
5958-
90. Ratio, civilian employment to total population of working age (percent)
ive Unemployment |
37. Number unemployed, total (miens—inverted scale)
43. Unemployment rate, total (percent—inverted scale)
i
45. Average weekly insured unemployment rate (percent—inverted scale)
y\
^ __'
n
91. Average duration of unemployment (weeks—inverted scale)
44. Unemployment rate, persons unemployed 15 weeks and over (percent—inverted scale)
1956
57
58
59
60
61
67
Current data for these series are shown on page 62.
18
MAY 1982
BCD
CYCLICAL INDICATORS
B I
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued
Chart B2. Production and Income
IComMiensive Outgaiand Income |
2? 5
2
^
S
&"
50. GNP in 1972 &&&, Q (ann. rate,
«56
57
58
5«
' •',
;•'.:
76
77
78
79
80
81
82
1983
Current data for these series are shown on page 63.
ItCII
MAY
1982
19
CYCLICAL INDICATORS
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued
Chart B2. Production and Income—Continued
47. Industrial production, total (Jndepff67=100) J^Jjg
74. Industrial production, nlBable
(index: 1967=100)
73. Industrial potion, durable
(UwlMlM)
49. vawe 01
(am. rate,
(BEA), Q (percent)
82. Rate of capacity
58
59
SO
61
62
63
64
6i
60
78
79
80
81
82 1983
for these series are shown on pages 63 and 64.
MAY 1982
ItCII
CYCLICAL INDICATORS
B I
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued
Chart B3. Consumption, Trade, Orders, and Deliveries
1009080-
6. New eWers, durable
current dollars (bil. dot.)
;c6050-
40-
30-
40353025 J
25. Change in unfilled orders, daaMe goods
(M. do).; MCD moving avg.<Aerm)
380340300260220-
96. Manufacturers' unfilled orders, durabfc
foods
Jf
(bil. dol.)
—~—
180140-
60-
32. Vendor performance, percent of companies
receiving slower defiverieiMercent)
100755025-
1956
57
58
5S
6,0
6!
?, :
Current data tor these series are shown on page 64.
ltd)
MAY 1982
21
CYCLICAL INDICATORS
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued
Chart B3. Consumption, Trade, Orders, and Deliveries—Continued
ICoittBtnption
and'Hate |
^HB-J
Manufacturing and trade sales
in 1972 dollars (bil. dol.)
UI'J
3080-
59. Sates of retail stores in 1972
u£u
M-l
55. Personal consumption expenditures,
automobtos, Q (am. rate, bil. dol.)
58. Index of consumer sentiment (1st Q 1966=100)
L
Current data for these series are shown on page 65.
22
MAY 1982
ItCII
CYCLICAL INDICATORS
B 1
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued
Chart B4. Fixed Capital Investment
[Forijaibn of Business Enterprises |
12. Net business formation (index: 1967=100)
13. New business incorporations (thousands)
20. Contracts and orders for plant and equipment
in 1972 dollars (bil. dol.) , X
10. Contracts and orders for |«arrt and equipment
in current dollars (bil. dot.) fjjT
ureMiew orders, capital goods industries,
\
cturers' new
, in curre
al foods industries,
Construction contracts, conyier
(mil. sq. ft. of floor a r e a A C D moving avg.—6-term)
82
1983
'This is a copyrighted series used by permission; it may not be reproduced without written permission from McGraw-Hill Information Systems Company, F.W. Dodge Division.
Current data for these series are shown on pages 65 and 66.
ItClft
MAY 1982
23
CYCLICAL INDICATOR
B I
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued
Chart B4. Fixed Capital Investment—Continued
97. Backlog of capital
(ML dd.)
re-
69. Machinery and «quipment $alet||i bwineii
construction expenditures (
1956
57
58
59
60
61
(.2
o>
76
77
78
79
80
81
82 1983
Current data for these series are shown on pages 66 and 67.
24
MAY 1982
ItCII
CYCLICAL INDICATORS
Bj
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued
Chart B4. Fixed Capital Investment—Continued
200 T
180160-
fixed investment to 1972 dotors, Q (amJHf, M. del.)
140-
86. Total, Q_
120-
C
100-
88. ProrJucerj1 durable
8060-
40-
mmitinents ana Investment!
28. New private houstot
2.6 T
2.42.22.01.81.61.4-
1.21.00.8-
29. ftow buMtof permtts,
2001SO1601401201008060-
89. Residential fixed
(aim. rate, bil.
70605040-
30-
L956
57
58
59
60
61
62
79
80
81
82 1983
Current data for these series are shown on page 67.
KCII
MAY 1982
25
CYCLICAL INDICATORS
B I
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued
Chart B5. Inventories and Inventory Investment
[In*
iry Investrnjil
30. Change in business inventories, 1972 dollars, Q (ann. rate, oil. dol.)
36. Net change in inventories on hand and on1ord,eil912,jtQiari,
(ann. rate, bil. dol.; moving av$—4-term )
: 31. Change in book value, manufacturing and trade inventories
(ann. rate, bil. dol.; MCD moving avg.—6-term) "
• - 38. Change in stocks of materials and supplies on hand and on order,
•:;:
manufacturing (bil. dol.; MCD moving avg.—4-term)
'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 68.
26
MAY 1982
ItCII
CYCLICAL INDICATORS
B I
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued
Chart 85. Inventories and Inventory Investment—Continued
Ihnjftfies on Haig|d on Order]
600550500450-
71. Book value, manufacturing and trade mventpnes,
current defers (bil. dd.)
400350300250-
g and trade inventories, 1972 dollars (bil. dd.)
200-
150-
10090807060-
65. Book value of manufacturers' inventories
of finished goods <MB dot.)
50-
30-
20J
19-
77. Ratio, deflated inventories to sales, manufacturing and trade
1.81
1.71.6lbj
260240220200180160140120100-
60"
40-
956
5:
38
V
-'•••'
•';
1
>'
Current data for these series are shown on page 68.
BCII
MAY 1982
27
CYCLICAL INDICATORS
B I
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued
Chart B6. Prices, Costs, and Profits
92. Chaiue in sensitive crude
(percent; moving avg.—4-t
-2-
340300260220-
23. Spot market prices, raw industrials2 (indtf967=100)
180140-
140120100-
19. Stock prices, 500 common s|
(index: 1941-43
200180160-
L
140"
16. Corporateflif ts after taxes, cun*« doiars, Q
120100-
te profits after taxes, 1972 dolars, Q
rate, bl: dot)
X
60-"
140120100-
80. Corporate profits after HK with IVA and C
1972 dolars, Q (am. |B)N. dol.)
8060-
79. Corporate profits after taxes
current dolars, Q (arm. rate,
?0J
81
32 1983
'This is a weighted 4-term moving average (with weights 1,2,2,1) placed on the terminal month of the span.
'Beginning with data for June 1981, this is a copyrighted series used by permission; it may not be reproduced without written permission from Commodity Research Bureau, Inc.
Current data for these series are shown on page 69.
28
MAY 1982
ltd)
CYCLICAL INDICATORS
B I
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued
Chart B6. Prices, Costs, and Profits—Continued
12-
adJBStments to total corporate demestk
4-
2-
15. Profits (after taws} per dote of
T
53-
26. Ratio, price to unit labor cost,
1041021009896-
94-
320280-
240200160120-
80-
34, Net cash flow,
(m ML, M.
40-1
1956
57
58
59
60
61
62
63
64
65
66
67
68
69
70
71.
72
73
74
75
76
7~
78
79
80
81
82
1983
Current data for these series are shown on pages 69 and 70.
ItCII
MAY 1982
29
CYCLICAL INDICATORS
B I
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued
Chart 66. Prices, Costs, and Profits—Continued
nijljfbor Costs ajiiabor Share!
63. Unit labor cost, private business sector, Q
Labor cost (current dollars) per unit of gross domestic product
(1972 dollars), nonfinancial corporations. 0 (dotes)
62. Labor cost per unit of output, manufacturing (index: 1967 = 100)
64. Compensation of employees as a percent of national income,
Q (percent)
1956
57
58
59
60
61
62
63
C-l
5'-
Current data for these series are shown on page 70.
30
MAY
1982
BCII
CYCLICAL INDICATORS
B I
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued
Chart B7. Money and Credit
in money supply Ml
_L,U
ent; MCD moving avg.—6-term)^
102. Change in money supply M2
i (percent; MCD moving avg.—6-term)
105. Money supply-Mi-in 1972 dollars (bil. dol.)
LLl
106. Money supply-M2-in 1972 dollars (bil. dol.)
107. Ratio, GNP to money supply Ml, Q (ratio)
108. Ratio, personal income to money supply M2 (ratio)
82 1983
'This is a weighted 4-term moving average (with weights 1,2,2,1) placed on the terminal month of the span.
Current data for these series are shown on page 71.
ItCII
MAY 1982
31
CYCLICAL INDICATORS
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued
Chart B7. Money and Credit—Continued
33. Change hi mortgage debt (aim. rate, bit. dol.)
CJI
;
112. Change in bank loans to businesses (ann. rate, bil. dol
MCD moving avg.—6-term)
113. Change in consumer installment credit (ann. rate, bil. dol.)
110. Total private borrowing, Q (ann. tale, bil. dol.)
LLL
78
79
80
81
82 1983
Current data for these series are shown on pages 71 and 72.
32
MAY 1982
CYCLICAL INDICATORS
B I
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued
Chart 87. Money and Credit—Continued
14. Current liabilities of business fai
inverted scale; MCD moving avg.—
39. Delinquency rate, 30 days and over
(percent—inverted scale)
94. Member bank borrowing from
the Federal Reserve (M. dol.)
L
1956
57
58
59
60
61
S":
Current data for these series are shown on page 72.
ItCII
MAY 1982
33
CYCLICAL INDICATORS
BI
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued
Chart B7. Money and Credit—Continued
14
i31\ -
i
119. Federal funds rate (percent)
L
H
J
114. Treasury bill rate
(percent)
116. Corporate bond yields (percent)
1956
5,
5H
59
<•"
Current data for these series are shown on pages 72 and 73.
34
MAY 1982
BCII
CYCLICAL INDICATORS
B I
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued
Chart 87. Money and Credit—Continued
[itetijt Rates—Cojl,
67. Bank rates on short-term business loam (percent)
109. Average primejfate charged by
I
66. Consumer installment afp (bit. do).)
95. Ratio, consumer installment credit ttMlnal income (percent
78
79
80
31
82 1983
Current data for these series are shown on page 73.
BUI
MAY 1982
35
CYCLICAL INDICATORS
DIFFUSION INDEXES AND RATES OF CHANGE
Chart Cl. Diffusion Indexes
950. Twelve leading indicator componen
100-
50-
951. Four roughly coincident indicate
100-1
50-
952. Sii la«rc indkatw components ^M. span—.,,1
iOO-
50-
Average workweek, production workers, m
span—, 1-mo. span—
100-
so-
I-56
57
58
59
60
Initial claims, State unemployment insurance—51
mo. span-—, 1-mo. span-It)
Employees on private nonapicultural payrolls—1
, l-rno, span—)
61
62
63
64
65
66
67
68
69
70
71
72
73
74
75
76
77
78
79
80
81
82
1983
Current data for these series are shown on page 74.
36
MAY 1982
CYCLICAL INDICATORS
DIFFUSION INDEXES AND RATES OF CHANGE—Continued
Chart Cl. Diffusion Indexes—Continued
New orders, durable goods industries—34-35
f
100-
50-
! W 'Vti
0-
Newly approved capital appropriations,
9070-
50-
30-
966. Industrial production-24
100-
50-
0-
Spot market prices, raw industrials—13 industralMteriats (9-mo,
100-
50-
0-
968. Stock prices, 500 common stocks—52-82 Mtttries (9-mo.
100-
50-
0-
960. Net profits, manufacturmg-BBt 700 companies
90-
70-
50-
30-
1956 57
58
59
60
61
fi2
6
79
80
81
82
1983
'This is a copyrighted series used by permission; it may not be reproduced without written permission from Dun & Bradstreet, Inc.
Current data for these series are shown on page 75.
BCD
MAY 1982
37
CYCLICAL INDICATORS
DIFFUSION INDEXES AND RATES OF CHANGE—Continued
Chart Cl. Diffusion Indexes—Continued
[Percent rising]
| Percent ristog]
Actual
Anticipated
Business expenditures for new plant and
equipment—18 industries (1-Q span)
(a) Actual expenditures
974. Number of employees, manufacturing and trade (4-Q span)1
975. Level of inventories, manufacturing and trade (4-Q span)1
(a) Actual expenditures
,,-J
orders, manufacturing (4-Q span)1
976. Seing prices, manufacturing (4-Q spit)1
972,||»t froflts, manufacturing and trade (4-Q span)1
977. Seing prices, wholesale trade (4-Q span)1
3
A—i
,r.J
973. ffet sales, manufacturing and trade (4-Q span)1
978. Selling prices, retail trade (4-Q span)1
'This is a copyrighted series used by permission; it may not be reproduced without written permission from Dun & Bradstreet, Inc. Dun & Bradstreet diffusion indexes are based on surveys of about
1,400 business executives.
Current data for these series are shown on page 76.
38
MAY 1982
BCD
CYCLICAL INDICATORS
C I
DIFFUSION INDEXES AND RATES OF CHANGE—Continued
Chart C3. Rates of Change
|Per^changeat^mialrate|
910c
composite index of twelve leading indicators
(seriesJl, 5, MLi-L. ?kSJU!Ji>
1-month spans
3-month spans
920c. Composite index of four roughly coincident indicators
(series 41, 47, 51, 57)
930c. Composite index of six lafgff indicators
(series 62, 70, 72, 91, 95TH9)
A
M
f\ r.e
50c. GNP in constant (1972) dollars (1-Q span)
47c. Index of industrial production
48c. Employee-hours in nonagricultural establishments
51c. Personal income less transfer
payments in 1972 dollars
;i.;-^
-; •
- ; <>
^-
•
"--•
- '-
>Y"
*~
82
1983
NOTE: Data for these percent changes are shown occasionally in appendix C. The "Alphabetical Index—Series Finding Guide" indicates the latest issue in which the data for each series were published.
ItCII MAY 1982
39
OTHER IMPORTANT ECONOMIC MEASURES
NATIONAL INCOME AND PRODUCT
Chart Al. GNP and Personal Income
200. GNP in current defers, Q (ann. rate, bl. tW.)
223. Personal income in current dollars
— 224. Dipiwable personal income in curr
dofari, Q (ann. rate, bH. dol.)
50. GNP in 1972 dotars, Q (ann. rate, bi. M)
213. Final sales in 1972 dates, Q (ann. rate, b*. dot)
1956
07
'->t
?i-
'•-'•
•
•
••
82 1983
Current data for these series are shown on pages 63 and 80.
40
MAY 1982
BCII
OTHER IMPORTANT ECONOMIC MEASURES
IA
I
NATIONAL INCOME AND PRODUCT—Continued
Chart A2. Personal Consumption Expenditures
Annual rate, billion dollars (torrent) [
| Annual rate, biHion dollar) {1972)
1956
57
58
59
60
6!
6,
:
Current data for these series are shown on pages 80 and 81.
ltd)
MAY 1982
41
OTHER IMPORTANT ECONOMIC MEASURES
NATIONAL INCOME AND PRODUCT—Continued
Chart A3. Gross Private Domestic Investment
Annual rate, billion dollars (current)
48'J-j
i i'"' "1
J.O-
Gross private domestic investment—
M-
242. Total fixed investment, 0
245. Change in business inventories, Q
Annual rate, billion dollars (1972) |,
243. Total fixed investment, Q
30. Change in business inventories, Q
Current data for these series are shown on page 81.
42
MAY 1982
KCII
OTHER IMPORTANT ECONOMIC MEASURES
A I
NATIONAL INCOME AND PRODUCT—Continued
Chart A4. Government Purchases of Goods and Services
ftnnual rate, billion dollars
(current)
|
—
ijmiafi
11,
t
700660620580540500460420380340300260220180-
140-
100-
60-
Annual rate, billion dollait (1972) |
340300260220-
267. State and local governments, Q
X
180-
140-
100-
1956
-"
l
,M
Current data for these series are shown on page 81.
IM.JP MAY 1982
43
OTHER IMPORTANT ECONOMIC MEASURES
IA I
NATIONAL INCOME AND PRODUCT—Continued
Chart A5. Foreign Trade
440400360320280240?00160-
120-
,40-
1956
57
58
59
60
61
62
63
64
65
66
67
68
69
70
/I
.'2
;•>
Current data for these series are shown on page 82.
44
MAY 1982
BCII
OTHER IMPORTANT ECONOMIC MEASURES
A
NATIONAL INCOME AND PRODUCT—Continued
Chart A6. National Income and Its Components
I Annual rate, Mfan
ate profits with inventory valuation and c
income with inventory valuation and
consumption adjustments, Q
284. Rental incom||lpersons with c
consumption Mfttment, Q
n.J
?<1
75
75
77
78
Current data for these series are shown on page 82.
BCD
MAY 1982
45
OTHER IMPORTANT ECONOMIC MEASURES
IA I
NATIONAL INCOME AND PRODUCT—Continued
Chart A7. Saving
Annual rate, billion dollars (current) |
:1
290. Gross saving (private and government), 0
298. Government surplus or deficit, Q
1956
57
58
59
60
61
62
63
61
Current data for these series are shown on pages 82 and 83.
46
MAY 1982
ItCII
OTHER IMPORTANT ECONOMIC MEASURES
IA
I
NATIONAL INCOME AND PRODUCT—Continued
Chart A8. Shares of GNP and National Income
iPerHJofGNPl
65-
60 J
20 T
268. State and local government purchases
of goods and services,
Q
"
15-
10-
248. Nonresidential fixed investment, Q
f/;
247. Change hi business inventories, Q
251. Net exports of goods and services, Q
iPetj^ofNationaliSome
64. Compensation of employees, Q
75-
65 J
28Sf Proprietors
and capital
with inventory valuation
tion adjustments, Q
287. Corporate profits with inventory valuation and
capital consumption adjustments, Q
X^
5-
285. RUM income of persons with capital consumption adjustment, Q
82
1983
Current data for these series are shown on page 83.
MAY 1982
47
OTHER IMPORTANT ECONOMIC MEASURES
B I
PRICES, WAGES, AND PRODUCTIVITY
Chart Bl. Price Movements
310c. Implicit price deflator
Percent change m annual rate
310. Implicit price deflator, GNP, Q
311c.
311.
Fixed-wetfted price index,
gross busiiess product, Q
Fixed weighted price index, gross bushessBbduct (1-0 span)
Producer prices—
[Index: 1967=100
Producer prices—
335c. Industrial commodities *t
33% * commodities
335. Industrial cormrrodrties
331. Crude materials
332c. Intermediate
332. Intermediate materials
333c. Capital equipment
;
333. Capital equipmenT
334. Finished consumer goods
Current data for these series are shown on pages 84, 85, and 86.
MAY 1982
BUI
OTHER IMPORTANT ECONOMIC MEASURES
PRICES, WAGES, AND PRODUCTIVITY—Continued
Chart Bl. Price Movements—Continued
Chart B2. Wages and Productivity
Index: 1S#=100
341. Real average
workers, private
140. Average hourly earnings of production work
private nonfarm economy (current dollars)1
346. Real average hourly
nonfarm business sector,
N.
345. Average
nonfarm
compensation, al
sector, 0 (current doia
'r
1956
57
58
59
60
6!
•- V
•:• •
Adjusted for overtime (in manufacturing only) and interindustry employment shifts and seasonally.
Current data for these series are shown on pages 84, 87, and 88.
BCD MAY 1982
49
OTHER IMPORTANT ECONOMIC MEASURES
B I
•i
PRICES, WAGES, AND PRODUCTIVITY—Continued
J
Chart B2. Wages and Productivity—Continued
"' 6-montli spans (aim. rate)
in average hourly earnings of production
, private iwnfarm economy1—"'
340c. Current-dollar earnings
34lc, Real earnings
Cm e in averagfpftjrly compensation, all employees,
noffm biBinessSor, Q-
6-month spans (ann. rate)
Current-dollar compensation
\*°i*
_,„
,._„,.„..„,A
spans
»
;;
4,'
^rate>
>JL. ..,.
4-quarter spans
. Real compensation
l-qua7ter'spans* (ann. rate)
benefit decisions, all industries
sar average changes,
r hour, all persons,
mess sector, 0
370. Output per hour, all persons,
private business sector, Q
370c. Change in output per hour, private business sector, Q
1-quarter spans (ann. rate)
4-quarter spans V
1956
57
58
59
GO
6;.
;-,;
•
"
-
.
>
.
.
'Adjusted for overtime (in manufacturing only) and interindustry employment shifts and seasonally. 'One-month percent changes have been multiplied by a constant (12) to make them
comparable with the annualized 6-month changes. See page 87 for actual 1-month percent changes.
Current data for these series are shown on pages 87 and 88.
50
MAY 1982
BCII
OTHER IMPORTANT ECONOMIC MEASURES
LABOR FORCE, EMPLOYMENT, AND UNEMPLOYMENT
Chart Cl. Civilian Labor Force and Major Components
441. Civilian labor force, total (millions)
Labor for« participation rates (percent)—
453. Both sttH 1649 years
Number Spnptoyed (miNions)-
.3
r
"\V
AA. >
444. Males zu y
445. Females 20 years
and over
447. Nufif unemployed,
woffi (millions)
yed part-time for economic
flflnnvllS/
V
7/
78
79
80
81
82 1983
Current data for these series are shown on page 89.
I MAY 1982
51
O T H E R IMPORTANT ECONOMIC MEASURES
GOVERNMENT ACTIVITIES
Chart Dl. Receipts and Expenditures
"Annual rate, billion dollars (current)
7>
iOG -j
' -: 1 -'
Current data for these series are shown on page 90.
52
MAY 1982
BUI
OTHER IMPORTANT ECONOMIC MEASURES
I £) I
GOVERNMENT ACTIVITIES—Continued
Chart D2. Defense Indicators
26 T
242220181614-
lAdvffiSg Measures ||1|efense Activity |
517. Defense Department gross ob
(bil. dot.; MCD moving avg.-6-t
10J
16141210-
525. Defense Department military prime coiUlt awards
(bi. dol.; MCD moving avg.—6-term)
6-
4J
iL L A L A
130120"
1101009070-
543. Defense Department gross unpaid obligaMOtfoutstandhig (bil.
605040-
ll-i
logs'
76-
548. Manufacturer? «iw orders, de
(M. dol.; MCD moving m.-6-taMBH
543-
2J
83
82
1983
Current data for these series are shown on page 90.
BCII
MAY 1982
53
OTHER IMPORTANT ECONOMIC MEASURES
GOVERNMENT ACTIVITIES—Continued
Chart D2. Defense Indicators—Continued
I Intearodiate and Final Measures of Defense Activity]
557. Output of defense and space equipment (Index: 1967=100)
7.-, J
559. Manufacturers' inventories, defense products (oil. dol.)
•H
If1
561. Manufacturers' unfled orders, defense products (bit, dol.)
/
j
s
v&
580. Defense Department net outlays, maitary functions and military
assistance (bi. dot; MCD moving avg.—6-t«rm)
588. Manufacturers' shipments, defense products
(bit. dol.; MCD moving avg.—4-term)
1956
•)
i-
PO
,
Current data for these series are shown on page 91.
54
MAY 1982
ltd)
OTHER IMPORTANT ECONOMIC MEASURES
J) I
GOVERNMENT ACTIVITIES—Continued
Chart D2. Defense Indicators—Continued
| Intapidiate and PM Measures of Defense Activity—Con. |
-:^T
W
-1^6^
570. Employment in defense products industries (tnSons)
1.81.6'
141.2-
Defense Department personnel
577. Military, active duty
3.5i
30-
2.5-1
2.0-
578. Civilian, direct Hf employment
:
1.5-
1.0-
22020C180160140-
564. Federal Government HPases of goods
defense, Q (ann.rate^itdol.)
&
100-
™->
801
565. National defense part*ases as a percent of |NP, Q (percent)
a.!
82
1983
Current data for these series are shown on page 91.
BM) MAY 1982
55
OTHER IMPORTANT ECONOMIC MEASURES
U.S. INTERNATIONAL TRANSACTIONS
Chart El. Merchandise Trade
242016-
gricultufal products
Exports of nonelectrical machinery (by. dol.)
262218-
General imports (bl. dol.; MCD moving avg.—4-term)
!00908.07.060-
614. Imports of petroteMjind petroleum products (bit. dol.)
. *
-v
'-&•-
3.0-
616. Imports of automobiles and otts (Mi: dol.)
0806-
04-
02-
I9J6
57
53
:>\i
':••.:
' .
8?
Current data for these series are shown on page 92.
56
MAY 1982
ItCII
OTHER IMPORTANT ECONOMIC MEASURES
U.S. INTERNATIONAL TRANSACTIONS—Continued
Chart E2. Goods and Services Movements
Annual rate, billion dotes
440400360-
Excess of receipts
xcessot payments
3?0280240200-
160-
667. Balance on goods and services, 0
320280240200160-
•» 669. Imports, 0
120-
80-
622. Merchandise trade balance, Q
--620. Imports, Q
0-
651. Income on U.S. investments abroad, 0
20-
— 652. Income on foreign investments in the U.S., Q
1956
57
58
59
NOTE: Annual totals are shown for the period prior to 1960.
Current data for these series are shown on page 93.
KCII
MAY 1982
57
OTHER IMPORTANT ECONOMIC MEASURES
F I
INTERNATIONAL COMPARISONS
Chart Fl. Industrial Production
I Index: 1967=100 I
Industrial production-
721. OECD European countries
1956
57
58
59
60
61
62
83
64
5!3
7-1
79
80
81
82 1983
Current data for these series are shown on page 94.
58
MAY 1982
BCII
OTHER IMPORTANT ECONOMIC MEASURES
F I
INTERNATIONAL COMPARISONS—Continued
Chart F2. Consumer Prices
Chart F3. Stock Prices
[Percent change at annual rate]
| Index: 1967 = 1001
[6-month spans |
Stock prices—
Consumer prices—
i». muted states
320c. United States -v
.-T V
/w^
^^
/s
.fif
*V
yy
ibU140120100-
V
,
80sn-
600-
200-»
745. West Germany
735c. West Germany
*
f***\
V
. W_
j_i-- -^^-
^_
^\f
~'
5|
140120100S,l-
736c. France
""• 52
*!M
V
733c. Canada
1971
72
73
74
75
76
77
78
7
9
80
78
79
80
81
82 1983
Current data for these series are shown on pages 95 and 96.
BCII
MAY 1982
59
CYCLICAL INDICATORS
COMPOSITE INDEXES AND THEIR COMPONENTS
llM COMPOSITE INDEXES
Year
and
month
910. Index of
12 leading indicators (series
1, 5, 8, 12, 19,
20, 29, 32, 36,
92, 104, 106)
920. Index of
4 roughly
coincident indicators (series
41, 47, 51, 57)
930. Index of
6 lagging indicators (series
62, 70, 72,
91, 95, 109)
(1967 = 100)
(1967 = 100)
(1967 = 100)
940. Ratio,
coincident
index to
lagging index
(1967 = 100)
Leading indicator subgroups
913. Marginal
employment
adjustments
(series 1, 2, 3,
5)
914. Capital
investment
commitments
(series 12, 20,
29)
915. Inventory
investment
and purchasing
(series 8, 32, 36.
92)
(1967 = 100)
(1967 = 100)
(1967 = 100)
(1967 = 100)
(1967 = 100)
916. Profitability (series
19, 26, 80)
917. Money
and financial
flows (series
104, 106, 110)
(')
1980
January
February
March
134.7
134.1
131.5
146.1
145.2
143.5
178.4
180.8
190.0
81.9
80.3
75.5
96.3
96.4
94.5
111.6
109.9
107.8
102.7
102.1
101.6
90.9
91.6
89.6
137.2
138.7
136.4
April
May
June
126.2
123.0
123.9
140.5
138.0
136.7
196.2
183.5
168.5
71.6
75.2
81.1
90.3
88.3
89.6
104.3
103.2
104.5
100.3
98.8
97.7
88.7
88.5
89.7
131.8
126.4
128.9
July
August
September
128.1
130.7
134.4
136.5
136.7
138.1
163.6
161.7
164.2
83.4
D84.5
84.1
91.7
92.2
92.9
106.1
107.0
0)108.8
98.5
99.5
101.5
90.6
91.3
91.5
133.5
137.4
139.0
October
November
December
135.0
136.5
136.4
139.7
140.8
141.3
168.5
175.6
191.0
82.9
80.2
74.0
93.6
94.2
94.5
107.3
108.2
108.3
103.1
103.4
103.2
91.8
92.2
93.0
139.4
139.9
138.8
135.2
134.2
135.8
142.0
142.5
142.4
189.1
186.5
181.2
75.1
76.4
78.6
94.2
94.1
94.1
106.7
105.2
106.0
102.1
103.1
103.7
93.9
94.4
0)94.5
139.4
137.5
139.0
E>137.3
rl36.0
135.1
142.2
142.2
142.5
179.4
189.6
191.4
79.3
75.0
74.5
1H>94.9
94.2
94.4
106.3
rlOS.l
103.6
0)104.3
103.7
103.5
94.4
93.7
93.8
140.4
0)140.7
140.0
July
August
September
r!34.9
r-134.1
r!30.6
142.6
1)142. 6
142.0
193.0
193.9
D194.5
73.9
73.5
73.0
94.8
93.6
91.1
102.8
102.2
rl01.4
103.9
103.1
102.1
93.5
93.5
91.5
139.0
138.3
136.8
October
November
December
r!28.2
128.2
r!27.2
139.9
138.7
136.6
189.7
184.9
181.7
73.7
75.0
75.2
90.4
90.2
89.1
98.9
r99.8
r99.5
100.7
99.8
99.0
91.0
90.6
89.7
136.1
136.1
r!36.1
rl25.3
rl24.8
3
124.2
r!34.2
r!36.1
135.3
r!82.2
r!84.0
183.5
73.7
r74.0
r73.7
(NA)
r98.9
r98.2
r99.6
97.4
96.7
r95.9
88.1
p86.8
(NA)
r!36.3
r!34.7
r!36.3
"125.2
'134.7
"184.0
p73.2
P99.3
P95.2
1981
January
February
March
April
May
June
1982
January
February
March
April
May
June
2
3
P138.8
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 0); for series that move counter to movements
in general business activity, current low values are indicated by 0). Series numbers are for identification only and do not reflect series relationships or order. Complete titles and sources are listed at the back
of this issue. The "r" indicates revised; "p", preliminary; "e", estimated; "a", anticipated; and "NA". not available.
Graphs of these series are shown on pages 10 and 11.
'See "New Features and Changes for This Issue," (item 2) on page iii of the February 1982 issue.
2
Excludes series 12, for which data are not available, and includes a substitute value for series 1. See "New Features and Changes for
This Issue," page iii (item 1) of the March 1982 issue.
3
Excludes series 12, for which data are not available.
"Excludes series 12 and 36, for which data are not available.
'Excludes series 57, for which data are not available.
'Excludes series 70 and 95, for which data are not available.
60
MAY 1982
CYCLICAL INDICATORS
B
I
CYCLICAL INDICATORS BY ECONOMIC PROCESS
MAJOR ECONOMIC
PROCESS
JQ EMPLOYMENT AND UNEMPLOYMENT
Minor Economic
Process
Timing Class
Year
and
month
Marginal Employment Adjustments
L, L, L
L, C, L
1. Average
workweek of
production
workers,
manufacturing
21. Average
weekly overtime
hours, production workers,
manufacturing
(Hours)
(Hours)
L, L, L
2. Accession
rate, manufacturing
L, C, L
5. Average
weekly initial
claims, State
unemployment
insurance l
(Per 100 em-
ployees)
(Thous.)
(2)
1980
Comprehensive
Employment
Job Vacancies
L, L,L
L, Lg, U
L, Lg, U
L, Lg, U
U, C, C
3. Layoff rate,
manufacturing
4. Quit rate,
manufacturing
60. Ratio, helpwanted advertising to persons
unemployed
46. Index of
help-wanted
advertising
in newspapers
48. Employeehours in nonagricultural
establishments
(Per 100 em-
(Per 100 em-
ployees)
ployees)
(Ratio)
(1967 = 100)
(Ann. rate,
bil. hours)
(2)
(2)
January
February
March
40.1
40.0
39.7
3.1
2.9
3.0
3.9
3.8
3.7
416
397
438
1.4
1.3
1.4
1.9
1.9
1.8
0.688
0.677
0.643
154
151
145
172.48
172.12
171.17
April
May
June
39.8
39.5
39.3
3.0
2.6
2.5
3.2
3.1
3.4
532
616
581
2.7
3.2
2.6
1.6
1.5
1.4
0.493
0.414
0.427
122
112
115
170.18
169.03
167.96
July
August
September
39.2
39.5
39.6
2.5
2.7
2.7
3.5
3.6
3.7
510
495
488
1.6
1.8
1.5
1.4
1.4
1.3
0.422
0.423
0.453
118
117
122
167.03
168.11
169.05
October
November
December
39.7
39.8
39.9
2.8
3.0
3.0
3.6
3.5
447
422
420
1.5
1.3
1.2
1.3
1.4
1.5
0.466
0)0.495
0.490
127
0)134
130
169.65
170.04
171.11
40.1
39.8
39.9
3.0
2.8
2.8
3.5
3.5
3.4
424
410
413
1.4
1.3
1.3
1.4
1.4
1.3
0.475
0.482
0.468
128
129
125
0)172.81
171.59
172.08
3.4
3.1
3.4
395
401
405
1.1
1.3
1.3
1.3
1.3
1.4
0.445
0.426
0.450
118
118
121
170.50
171.37
i
1 ?n
/ U .&f\
OD
1)3. 7
1981
January
February
March
April
May
June
40.1
2.9
0)3.2
3.0
July
August
September
40.0
40.0
39.3
3.0
3.0
2.7
3.4
3.2
2.9
1)395
421
483
0)1.0
1.4
1.7
0)1.5
1.3
1.3
0.468
0.444
0.405
123
119
112
171.03
171.23
167.88
October
November
December
39.5
39.3
39.0
2.7
2.5
2.4
2.9
3.1
2.7
517
539
551
2.2
2.3
2.2
1.2
1.1
1.1
0.378
0.363
0.339
110
111
109
170.63
170.05
169.94
37.3
39.5
39.0
2.3
2.4
2.3
0.339
0.320
0.290
106
103
96
r!67.28
r!70.55
r!69.44
pO.254
p88
P168.17
40.2
0)40.3
1982
January
February
March
April
May
June
P39.1
p2.4
(NA)
563
514
566
(NA)
(NA)
p566
July
August
September
October
November
December
See note on page 60.
Graphs of these series are shown on pages 12, 16, and 17.
x
Data exclude Puerto Rico, which is included in figures published by the source agency.
2
See "New Features and Changes for This Issue" (item 2) on page iii of the February 1982 issue.
MAY 1982
61
CYCLICAL INDICATORS
B
I
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued
MAJOR ECONOMIC
PROCESS
Q| EMPLOYMENT AND UNEMPLOYMENT-Continued
Minor Economic
Process
Timing Class
Year
month
Comprehensive Employment-Continued
Comprehensive Unemployment
U, C , C
C.C.C
L, C, U
U, Lg, U
42. Persons
engaged in nonagricultural
activities, labor
force survey
41. Employees
on nonagricultural payrolls,
establishment
survey
40. Employees
in goodsproducing industries (mining, mfg., construction)
90. Ratio,
civilian employment to total
population of
working age
(Thous.)
(Thous.)
(Thous.)
(Percent)
L, Lg, U
L, Lg, U
L, Lg, U
Lg, Lg, Lg
Lg, Lg, Lg
37. Number of
persons unemployed, labor
force survey
43. Unemployment rate,
total
45. Average
weekly insured unemployment rate,
State programs l
91. Average
duration of
unemployment
44. Unemployment rate,
persons unemployed 15
weeks and over
(Thous.)
(Percent)
(Percent)
(Weeks)
(Percent)
1980
January
February
March
96,506
96,521
96,205
90,687
90,865
90,871
26,385
26,363
26,238
59.20
59^17
58.91
April
May
June
95,832
95[552
95,483
90,817
90,'446
90,087
25 971
25^662
25,402
July
August
September
95,546
95,667
95,759
89,960
90,219
90,461
October
November
December
95,965
96,164
96,146
•3 .qo
o
i
1n
U .RO
3.2
10.6
i
i . io
1.3
I.4/I
6,660
6,' 635
6 ,714
6.3
6.2
D .O
•J . *T
CO CC
JO . O J
7/ , o
"37D
1U
8,059
8,024
6 . Qy
7.5
7.5
3 . 7/
4.2
4.5
n .0
58.39
58.20
10.7
11.7
1 .6
1.6
1.7
25,151
25,322
25,445
58.16
58.11
58.21
8,330
8,239
8,024
7.8
7.7
7.5
4.3
4.2
4.2
11.9
12.4
13.0
1.9
2.0
2.1
90,668
90,844
90,949
25,521
25,629
25,631
58.21
58.27
58.26
8,109
8,066
7,899
7.5
7.5
7.3
4.0
3.8
3.6
13.2
13.5
13.6
2.1
2.2
2.2
96,456
96,723
97,063
91,091
91,258
91,347
25,647
25,657
25,705
58.34
58.38
58.52
8,022
7,965
7,958
7.4
7.4
7.3
3.5
3.3
3.4
14.4
14.1
13.9
2.2
2.1
2.1
97,408
0)97,640
97,082
91,458
91,564
91,615
25,700
25,705
25,818
58.73
0)58.76
58.33
7,899
8,248
8,004
7.3
7.5
7.4
3.4
3.3
3.3
13.7
13.3
14.3
2.0
2.0
2.2
97,522
97,436
96,900
91,880
91,901
D 92, 033
1)25,939
25,931
25,930
58.51
58.44
58.03
1)7,824
7,978
8,236
1)3. 1
14.1
14.3
13.7
f.
0
o
n
n . oU
o
1981
January
February
March
April
May
June
July
August
September
D7.2
7.3
7.6
3.2
3.3
2.0
D2.0
2.1
96,965
96,800
96,404
91,832
91,522
91,113
25,662
25,418
25,104
58.01
57.85
57.47
8,669
9,100
9,571
8.0
8.3
8.8
3.5
3.9
4.1
0)12.8
2.1
2.2
2.2
January
February
March
96,170
96,217
96,144
90,879
r91,019
r90,760
24,801
r24,836
r24,609
57.40
57.35
57.23
9,298
9,575
9,854
8.5
8.8
9.0
4.0
4.0
4.3
13.5
14.1
13.9
2.2
2.5
2.7
April
May
June
96,032
p90,562
p24,435
57.09
10,307
9.4
14.2
2.7
October
November
December
13.6
13.1
1982
p4.6
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
MAY 1982
CYCLICAL INDICATORS
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued
MAJOR ECONOMIC
PROCESS
^J PRODUCTION AND INCOME
Minor Economic
Process
Timing Class
Year
and
month
Industrial Production
Comprehensive Output and ncome
C, C, C
C, C, C
50. Gross national product
in 1972 dollars
C, C, C
C, C, C
52. Constant
(1972) dollars
51. Personal
income, less
transfer payments, in 1972
dollars
(Ann. rate,
bil. dol.)
(Ann. rate,
bil. dol.)
53. Wages and
salaries in
mining, mfg.,
and construction in 1972
dollars
(Ann. rate,
bil. dol.)
Personal income
223. Current
dollars
(Ann. rate,
bil. dol.)
(Ann. rate,
bil. dol.)
C, C, C
47. Index of
industrial
production,
total
(1967 = 100)
C, C . C
C, L, L
73. Index of
industrial
production,
durable manufactures
74. Index of
industrial
production,
nondurable
manufactures
(1967 = 100)
(1967 = 100)
C, C , C
49. Value of
goods output
in 1972 dollars
(Ann. rate,
bil. dol.)
1980
January
February
March
l,5oi!9
2,077.2
2,086.4
2,101.0
1,216.2
1,207.4
1,199.2
1,056.5
1,050.9
1,044.0
240.7
239.4
236.5
153.0
152.8
152.1
144.8
144.4
143.5
166.0
165.8
164.3
682 !l
April
May
June
1,463.3
2,102,1
2,114.1
2,127.1
1,194.4
1,195.1
1,195.0
1,037.6
1,036.0
1,035.1
232.0
228.1
225.0
148.2
143.8
141.4
138.5
133.3
129.9
161.6
158.1
155.1
658.1
July
August
September
1,471.*9
2,161.2
2,179.4
2,205.7
1,206.7
1,207.4
1,208.6
1,033.8
1,036.2
1,036.9
224.1
226.3
227.9
140.3
142.2
144.4
128.7
129.9
132.1
154.6
157.6
161.0
657! 5
October
November
December
1,485!6
2,234.3
2,257.6
2,276.6
1,216.3
1,221.0
1,222.7
1,045.5
1,051.6
1,053.7
229.4
231.6
232.2
146.6
149.2
150.4
135.7
139.2
140.3
162.1
163.0
165.0
662! 9
Di.sieii
2,300.7
2,318.2
2,340.4
1,227.7
1,231.1
1,233.1
1,057.8
1,062.0
1,063.5
1)234. 9
232.6
232.6
151.4
151.8
152.1
141.0
140.8
142.1
165.6
166.2
165.3
688 ! 9
April
May
June
1,510*.4
2,353.8
2,367.4
2,384.3
1,234.9
1,236.2
1,238.6
1,065.7
1,067.3
1,069.0
232.3
232.0
231.8
151.9
152.7
152.9
142.5
143.5
143.2
165.9
166.4
165.8
686.3
July
August
September
1,515.'8
2,419.2
2,443.4
2,462.6
1,243.8
1,250.5
1,249.4
1,068.0
1,075.6
1,075.4
231.7
231.8
229.8
1B>153.9
153.6
151.6
0)143.6
143.4
140.9
167.1
H>167.3
165.9
(H)69il9
October
November
December
1,498*.4
2,475.2
2,492.4
2,492.0
1,247.6
1,249.9
1,245.4
1,074.4
1)1,075.7
1,070.5
228.9
227.5
224.8
149.1
146.3
143.4
137.8
134.4
131.3
162.8
160.3
157.4
672.' 6
rl,482.*2
r2, 498.1
r2,513.2
r2,522.5
rl,237.9
rl,247.9
rl, 250.0
rl,063.9
rl,072.8
rl,072.2
224.5
225.9
r224.5
r!40.7
r!42.7
r!41.5
r!27.1
r!29.1
r!28.2
r!55.1
r!57.7
r!56.7
r660.*6
[H>P2, 531.1
!>pl,254.3
pi, 074.0
p222.1
P140.7
P127.7
p!56.4
1981
January
February
March
1982
January
February
March
.
April
May
June
July
August
September
October
November
December
See note on page 60.
Graphs of these series are shown on pages 14, 19, 20, and 40.
MAY 1982
63
CYCLICAL INDICATORS
B
I
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued
MAJOR ECONOMIC
PROCESS
JQ PRODUCTION AND INCOME-Continued
Qj CONSUMPTION, TRADE, ORDERS, AND DELIVERIES
Capacity Utilization
Orders and Deliveries
Minor Economic
Process
Timing Class
Year
and
month
L, C, U
83. Rate of
capacity
utilization,
manufacturing
(BEA)
(Percent)
82. Rate of
capacity
utilization,
manufacturing
(FRB)
(Percent)
L, C, U
84. Rate of
capacity
utilization,
materials
(Percent)
L, L, L
L, L, L
Value of manufacturers' new
orders, durable goods industries
6. Current
dollars
(Bil. dol.)
7. Constant
(1972) dollars
(Bil. dol.)
L, L, L
8. New orders
for consumer
goods and
materials in
1972 dollars
(Bil. dol.)
L, L, L
L, Lg, U
L, L, L
25. Change in
unfilled orders,
durable goods
industries
96. Manufacturers' unfilled
orders, durable
goods industries
32. Vendor
performance,
companies receiving slower
deliveries ©
(Bil. dol.)
(Bil. dol.)
(Percent
reporting)
1980
January
February
March
"so
April
May
June
83.4
85!s
83.58
83.15
79.39
41.79
41.10
39.22
36.72
36.89
33.96
3.92
2.50
1.88
297.58
300.08
301.96
48
42
45
77.*9
78.8
73.38
69.00
70.33
36.16
33.89
34.21
31.25
30.27
30.05
-1.34
-3.30
-1.58
300.62
297.33
295.75
40
32
28
75.*2
80.21
76.78
82.16
38.66
36.72
39.09
32.50
32.65
34.31
0)4.66
75!9
1.30
2.43
300.40
301.70
304.13
32
34
39
79^1
s6!i
83.36
83.97
86.58
39.21
39.35
0)40.21
35.71
35.36
35.06
0.84
0.74
3.10
304.98
305.72
308.82
44
45
47
0)79^9
0)82.2
84.21
85.45
86.73
39.00
39.41
39.80
33.77
35.61
34.96
0.88
1.23
1.67
309.70
310.93
312.60
46
50
52
79.'a
si'.'z
87.18
88.16
88.30
39.68
39.86
39.69
35.55
35.46
[0)35.82
0.85
1.50
313.45
314.95
314.48
*76
July
August
September
October
November
December
*76
*78
1981
January
February
March
*78
April
May
June . . . .
July
August
September
October
November
December
0)78
-0.48
0)56
52
48
79!:)
si.'i
[H)89.70
87.35
86.28
40.10
38.86
38.23
35.61
34.07
33.86
2.38
0.52
0.09
316.85
317.37
0)317.46
46
48
43
74*.8
75^2
77.80
79.96
79.76
34.29
35.04
r34.89
31.64
30.92
r31.05
-4.78
-1.69
-1.38
312.68
311.00
309.61
38
32
30
r71.*6
r71.9
77.10
79.80
r80.30
33.71
34.94
r35.08
29.60
30.61
r30.64
-0.65
-0.47
rO.53
308.96
308.50
r309.03
32
36
35
P77.16
P33.69
P30.33
p-2.55
P306.48
31
*76
p72
1982
January
February
March
(NA)
April
May
June
July
August
September
October
November
December
See note on page 60.
Graphs of these series are shown on pages 12, 20, and 21.
64
MAY 1982
CYCLICAL INDICATORS
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued
MAJOR ECONOMIC
PROCESS
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
U, L, U
Sales of retail stores
54. Current
dollars
(Mil. dol.)
FIXED CAPITAL
INVESTMENT
Formation of Business Enterprises
Consumption and Trade
Manufacturing and trade sales
Year
and
month
H
JQJ CONSUMPTION, TRADE, ORDERS, AND DEUVERIES-Contmued
59. Constant
(1972) dollars
(Mil. dol.)
L, C , C
55. Personal
consumption
expenditures,
automobiles
(Ann. rate,
bit. dol.)
L, L, L
58. Index of
consumer,
sentiment ®
L, L, L
12. Index of
net business
formation
(IstQ
1966 = 100)
(1967 = 100)
L, L, L
13. Number of
new business
incorporations
(Number)
1980
January
February
March
318,101
317,901
312,469
161,064
159,458
155,104
147.9
148.2
148.0
78,409
77,951
76,898
45,114
44,391
43,201
li'.e
67.0
66.9
56.5
131.0
129.8
125.8
44,230
44,175
43,359
April
May
June
305,440
302,071
305,326
151,464
149,048
150,115
145.2
142.1
141.8
76,543
76,730
77,616
42,809
42,747
42,977
50.' 7
52.7
51.7
58.7
120.5
117.8
114.8
42,240
42,710
40,648
July
August
September
315,633
317,906
327,758
152,645
150,945
154,613
142.1
142.9
144.5
79,114
79,393
80,026
43,565
43,219
43,002
58!7
62.3
67.3
73.7
115.3
117.7
120.6
43,621
44,255
45,746
October
November
December
335,873
339,049
343,752
156,734
156,772
157,566
146.3
148.1
147.1
81,325
82,249
82,855
43,466
43,657
43,677
6e!i
75.0
76.7
64.5
119.6
119.2
B>121.3
45,945
46,750
47,840
January
February
March
349,018
350,334
349,898
158,527
0)159,522
158,775
146.9
147.8
148.3
84,104
85,201
86,128
44,057
44,306
44,488
@)75'. 6
71.4
66.9
66.5
118.1
117.1
117.7
46,039
47,706
47,879
April
May
June
350,923
349,245
354,442
157,941
156,601
158,501
148.9
150.7
150.3
86,263
86,361
87,299
44,443
44,379
E>44,723
63!3
72.4
76.3
73.1
118.0
115.4
114.6
49,413
48,997
49,172
July
August
September
[H>354,759
352,783
353,717
157,406
156,178
156,182
D150.7
149.6
147.8
87,292
87,961
87,823
44,401
44,515
44,022
70^2
74.1
E>77.2
73.1
rll3.1
rl!2.5
111.5
49,404
48,631
48,450
October
November
December
345,287
345,213
342,573
151,783
151,684
150,398
146.5
144.0
142.0
86,413
86,733
86,572
43,163
43,194
43,028
62 '.9
70.3
62.5
64.3
108.1
108.5
rel06.0
47,947
[H>49,413
47,556
r336,548
r343,446
p343,354
r!46,577
r!50,884
p!51,320
r!39.6
r!41.7
r!41.7
85,320
r87,654
r87,128
r42,030
r43,286
r43,090
69.5
71.0
66.5
62.0
(NA)
43,330
(NA)
p!42.5
ES>p88,310
p43,826
1981
1982
January
February
March
April
May
June
(NA)
(NA)
65.5
July
August
September
October
November
December
See note on page 60.
Graphs of these series are shown on pages 12, 14, 22, and 23.
ito
MAY 1982
65
CYCLICAL INDICATORS
B I
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued
MAJOR ECONOMIC
PROCESS
19 FIXED CAPITAL INVESTMENT-Continued
Minor Economic
Process
Timing Class
Business Investment Commitments
L, L, L
L, L, L
Contracts and orders for plant
and equipment
Year
and
month
10. Current
dollars
(Bit. dol.)
20. Constant
(1972) dollars
(Bil. dol.)
L, L, L
L, L, L
Value of manufacturers' new orders,
capital goods industries, nondefense
24. Current
dollars
(Bil. dol.)
L, C, U
9. Construction contracts for commercial and industrial buildings '
27. Constant
(1972) dollars
Square feet of
floor space
(Bil. dol.)
(Millions)
Square meters of
floor 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. dol.)
(Bil. dol.)
1980
January
February
March
27.88
24.54
25.97
15.28
13.45
13.92
24.84
21.98
23.09
13.83
12.24
12.57
99.43
82.08
78.31
9.24
7.63
7.27
27!50
April
May
June
24.93
22.55
24.24
13.33
12.20
13.32
22.44
20.23
21.10
12.18
11.13
11.90
72.76
67.35
71.59
6.76
6.26
6.65
25!81
July
August
September
26.34
25.62
25.67
14.59
13.49
13.84
23.52
21.28
22.52
D13.32
11.54
12.43
74.62
71.41
64.15
6.93
6.63
5.96
24! 12
October
November
December
25.06
27.26
28.15
12.96
14.45
14.76
21.62
23.35
24.66
11.42
12.71
13.22
73.46
[H>90.80
87.75
28.89
24.90
28.17
D14.78
12.52
14.13
{H>24.82
21.18
24.46
13.00
10.90
12.51
83.72
83.86
83.79
7.78
7.79
7.78
27.*75
B)r29.64
27.37
27.86
r!4.73
13.81
13.85
24.72
23.86
23.23
12.58
12.28
11.83
79.64
84.75
81.01
7.40
7.87
7.53
(H>28*.44
July
August
September
27.78
27.78
26.64
13.90
13.99
13.71
24.23
24.70
23.03
12.36
12.66
12.16
73.46
78.67
68.12
6.82
7.31
6.33
26.51
October
November
December
24.71
27.16
27.20
12.20
14.18
14.15
21.00
23.81
22.52
10.59
12.73
12.14
74.26
70.77
70.65
6.90
6.57
6.56
p22*61
January
February
March
26.18
24.38
r25.86
12.97
12.08
r!3.16
21.57
21.04
r22.37
11.00
10.66
rll.68
56.29
65.10
63.17
5.23
6.05
5.87
April
May
June
p24.35
P12.17
p21.27
plO.87
57.32
5.33
82 '.36
86 '.38
88! 12
6.82
D8.44
26^15
90!73
8.15
1981
January
February
March
April
May
June
93^34
96!56
D97.34
p92*.04
1982
(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.
1
This is a copyrighted series used by permission; it may not be reproduced without written permission from McGraw-Hill Information Systems
Company, F.W. Dodge Division.
2
Converted to metric units by the Bureau of Economic Analysis.
66
MAY 1982
CYCLICAL INDICATORS
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued
MAJOR ECONOMIC
PROCESS
^| FIXED CAPITAL INVESTMENT-Continued
Minor Economic
Process
Timing Class
Year
and
month
Residential Construction
Commitments and Investment
Business Investment Expenditures
C, Lg, Lg
61. Business
expenditures
for new plant
and equipment,
total
(Ann. rate,
bil. dot.)
C, Lg, Lg
69. Machinery
76. Index of
and equipment
industrial prosales and business duction, business
construction
equipment
expenditures
(Ann. rate,
bil. dol.)
C, Lg, C
C, Lg, U
U, Lg, Lg
C, Lg, C
Nonresidentia ! fixed investment in 1972 dollars
86. Total
(1967 = 100)
(Ann. rate,
bil. dol.)
87. Structures
(Ann. rate,
bil. dol.)
88. Producers'
durable equipment
(Ann. rate,
bil. dol.)
L, L, L
28. New
private housing
units started,
total
(Ann. rate,
thous.)
L, L, L
29. Index of
new private
housing units
authorized by
local building
permits
(1967 = 100)
L, L, L
89. Residential
fixed investment, total, in
1972 dollars
(Ann. rate,
bil. dol.)
Revised1
1980
January
February
March
306.87
313.92
311.56
175.2
176.5
176.2
165!6
5o!s
ni.'s
1,339
1,356
1,060
103.4
29L89
April
May
June
294.' 36
303.73
305.60
305.91
174.5
171.8
169.7
156!i
48!7
107!i
1,030
939
1,196
65.3
69.5
90.3
July
August
September
296!23
307.06
299.58
317.20
169.5
171.1
170.7
155 '.5
4e!s
losis
1,273
1,418
1,463
101.7
110.4
DH9.9
44*. 7
October
November
December
299.*58
317.03
320.32
322.93
171.9
173.9
177.1
157!6
47!8
109." 3
1,504
1,539
1,457
110.3
111.7
100.9
5o!e
January
February
March
312!24
326.16
325.22
336.68
177.7
177.5
179.3
162! 6
49^6
112*.4
1)1,585
1,294
1,318
April
May
June
3ie!73
334.62
336.38
343.91
181.0
182.0
183.6
iei!i
50.4
1KL7
July
August
September
D328!25
338.38
346.89
347.05
E>184.8
184.4
182.7
Dl63!9
5i.*5
October
November
December
327!83
334.01
346.08
D350.66
180.5
179.0
179.0
162 '.7
January
February
March
a330*.34
326.89
r340.22
p338.58
172.2
r!71.5
r!68.4
162. 4
April
May
June
a336*.77
96.8
79.8
54*. 2
43!i
1981
99.8
96.6
94.7
D5i!6
1,301
1,172
1,046
95.8
95.2
79.6
47!s
D112! 4
1,040
946
899
76.0
70.9
67.4
42!7
1)52 ! 6
iio.'i
854
860
882
59.6
60.0
64.4
39*4
r52.*4
rllO.'o
1982
(NA)
P165.7
885
r945
r941
64.9
64.0
68.7
p881
71.0
r38.9
July
August
September
October
November
December
See note on page 60.
Graphs of these series are shown on pages 13, 24, and 25.
x
See "New Features and Changes for This Issue," page iii.
IM:
MAY 1982
67
CYCLICAL INDICATORS
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued
MAJOR ECONOMIC
PROCESS
gj INVENTORIES AND INVENTORY INVESTMENT
Minor Economic
Process
Timing Class
Year
and
Inventory Investment
Inventories on Hand and on Order
L, L, L
L, 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
31. Change
in book value
of mfg. and
trade inventories, total
38. Change
in stocks of
materials and
supplies on
hand and on
order, mfg.
Monthly
data
Smoothed
data 1
month
(Ann. rate,
bil. dol.)
(Ann. rate,
bil. dol.)
(Ann. rate,
bil. dol.)
(Ann. rate,
bil. dol.)
(Bil dol.)
Lg, Lg, Lg
Lg, Lg. U
Manufacturing and trade
inventories
71. Current
dollars
(Bil dol.)
70. Constant
(1972) dollars
(Bil dol.)
Lg, Lg, Lg
Lg, Lg, Lg
L, Lg, Lg
65. Manufacturers' inventories of
finished
goods, book
value
77. Ratio,
constantdollar inventories to
sales, mfg.
and trade
78. Stocks of
materials and
supplies on
hand and on
order, mfg.
(Bil dol.)
(Ratio)
(Bil dol.)
1980
January
February
March
-Q.9
April
May
June
i.*3
July
August
September
-s!6
October
November
December
-Y.2
-16.86
-12.74
1.31
-12.58
-15.69
-12.76
51.7
51.2
37.4
2.14
2.84
1.14
448.54
452.80
455.92
264.77
264.14
264.60
72.43
73.42
74.52
1.64
1.66
1.71
215.88
218.72
219.86
-4.08
-7.30
-7.12
66.3
18.4
14.5
-0.92
-2.35
-2.24
461.44
462.98
464.19
266.02
265.24
264.73
75.99
76.67
77.10
1.76
1.78
1.76
218.94
216.59
214.35
31.7
25.4
30.7
2.07
-1.05
1.01
466.83
468.94
471.50
264.79
264.39
264.24
77.60
77.73
77.49
1.73
1.75
1.71
216.41
215.36
216.37
0.96
0.29
0.62
473.62
474.88
475.20
264.33
264.10
262.97
77.25
77.44
76.56
1.69
1.68
1.67
217.33
217.62
218.24
-24.42
-24.06
-13.29
-6.18
-7.58
-1.24
-17.87
-15.41
5.68
-3.02
-0.07
-1.35
25.4
15.2
-7.12
-9.33
-6.21
39.0
67.4
16.8
0.13
1.40
-0.25
478.45
484.07
485.47
262.81
262.86
262.64
76.20
77.47
79.25
1.66
1.65
1.65
218.37
219.78
219.52
-1.26
19.1
38.3
47.7
1.16
1.18
0.40
487.06
490.25
494.23
263.16
263.94
265.40
79.19
80.39
81.21
1.67
1.69
1.67
220.69
221.86
222.26
1.91
-1.59
498.10
502.46
508.13
266.46
267.05
268.53
81.22
82.58
83.78
1.69
1.71
1.72
224.18
222.59
0)224.77
-2.60
-1.76
-1.00
511.68
0)515.16
513.29
269.68
[H>270.36
268.78
84.87
0)85.14
83.85
1.78
1.78
1.79
222.17
220.41
219.41
-3.26
-1.90
-1.92
r510.46
r508.32
P505.89
r266.53
r265.13
P264.57
83.20
84.39
85.07
1.82
216.14
214.24
212.32
-1.74
-14.76
-8.80
3.8
1981
January
February
March
-L*4
April
May
June
1CL8
-15.37
6.02
-3.79
3.36
7.25
0)17.33
10.70
July
August
September
0)14! 9
October
November
December
4*. 2
2.07
5.79
10.54
46.5
52.3
0)68.1
0.25
9.90
H>10.59
8.19
0.73
r-21.71
5.29
3.28
r-2.34
-40.9
r-36.00
r-24.42
p-13.21
r-13.72
r-23.61
p-25.96
p-29.1
-1.84
42.6
41.8
0)2.18
1982
January
February
March
r-17.2
April
May
June
(NA)
(NA)
r-33.9
-25.7
(NA)
(NA)
(NA)
(NA)
(NA)
0)
rl.76
pi. 75
(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.
1
This series is a weighted 4-term moving average (with weights 1,2,2,1) placed on the terminal month of the span.
MAY 1982
(NA)
CYCLICAL INDICATORS
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued
MAJOR ECONOMIC
PROCESS
^J PRICES, COSTS, AND PROFITS
Minor Economic
Process
Sensitive Commodity Prices
Timing Class
L, L, L
U, L, L
92. Change in sensitive crude
materials prices
Year
and
month
Monthly
data
23. Index of
spot market
prices, raw
industrials3®
Smoothed
data 2
(Percent)
Stock
Prices
(Percent)
(1967 = 100)
L, L, L
19. Index of
stock prices,
500 common
stocks (u)
(1941-43 = 10)
Profits and Profit Margins
U L, L
L, L, L
Corporate profits after taxes
16. Current
dollars
(Ann. rate,
bit. dol.)
18. Constant
(1972) dollars
(Ann. rate,
bil. dol.)
L, C, L
L, C, L
Corporate profits after taxes
with IVA and CCAdj >
79. Current
dollars
(Ann. rate,
bil. dol.)
80. Constant
(1972) dollars
(Ann. rate,
bil. dol.)
L, L, L
22. Ratio,
profits (after
taxes) to total
corporate
domestic income
(Percent)
1980
January
February
March
3.21
1.48
-1.44
2.30
2.30
1.65
316.2
322.5
316.9
110.87
115.34
104.69
182.9
102.' 6
106 '.6
6C)!i
0.64
102.97
107.69
114.55
146 ! 5
8CL3
97^8
54!l
9A
11.5
April
May
June
0.54
0.07
0.96
-0.04
0.12
301.9
278.5
267.5
July
August
September
2.04
2.41
2.06
0.77
1.41
1.99
277.6
292.1
298.3
119.83
123.50
126.51
159!l
85*.5
99.4
54!o
l6!6
October
November
December
2.46
2.31
1.45
2.24
2.29
2.18
300.8
D304.7
298.4
130.22
0)135.65
133.48
164!3
seie
98.1
52!2
1CL3
2.74
2.12
2.89
291.6
284.2
289.8
132.97
128.40
133.19
H>169!2
B)87.8
115^3
D6CK2
E>io!3
58!2
9\2
58 ".9
s'.i
8.3
1981
January
February
March
D6.64
-0.62
April
May
June
E>3.26
1.71
2.25
0.23
2.75
1.84
1.26
293.0
288.9
282.9
134.43
131.73
132.28
152 '.7
77*.4
113\9
0.47
286.6
289.5
283.0
129.13
129.63
118.27
156!3
76!5
Diu'.e
70.5
108.8
53.6
p58.1
p98.9
p48.*6
July
August
September
-0.63
0.79
1.19
0.50
0.12
October
November
December
-1.09
-0.51
rO.16
-0.05
-0.29
r-0.38
277.2
270.5
264.2
119.80
122.92
123.79
144.0
r-1.20
-2.02
-2.27
r-0.50
-0.77
r-1.42
263.4
261.0
254.5
117.28
114.50
110.84
pll8.8
-0.23
-1.67
1982
January
February
March
April
May
June
247.4
"246.6
5
p6\9
116.31
117.24
July
August
September
October
November
December
See note on page 60.
Graphs of these series are shown on pages 13, 28, and 29.
X
2
IVA, inventory valuation adjustment; CCAdj, capital consumption adjustment.
This series is a weighted 4-term moving average (with
weights 1,2,2,1) placed on the terminal month of the span.
Beginning with data for June 1981, this series is based on copyrighted data
A
used by permission; it may not be reproduced without written permission from Commodity Research Bureau, Inc.
Average for May 1 through
5
18, excluding weekends.
Average for May 5, 12, and 19.
IM]I) MAY 1982
69
CYCLICAL INDICATORS
B I
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued
MAJOR ECONOMIC
PROCESS
Hflj PRICES, COSTS, AND PROFITS-Continued
Minor Economic
Process
Timing Class
Year
and
month
U, L, L
Unit Labor Costs and Labor Share
Cash Flows
Profits and Profit Margins— Continued
L, L, L
L, L, 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
26. Ratio, price
to unit labor
cost, nonfarm
business sector
(Percent)
(Cents)
(1977 = 100)
L, L, L
L, L, L
Net cash flow, corporate
34. Current
dollars
(Ann. rate,
bil.dol.)
35. Constant
(1972) dollars
(Ann. rate,
bil.dol.)
Lg, Lg, Lg
Lg, Lg, Lg
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
62. Index of
labor cost per
unit of output,
manufacturing
64. Compensation of employees as a percent
of national
income
(1977 = 100)
(Dollars)
(1967 = 100)
(Percent)
1980
January
February
March
5.*5
S!G
96.*5
280.' 7
155.' 2
127 '.0
1.158
182.8
184.8
186.9
74.'e
April
May
June
5.5
4!4
95.*8
246 .'l
132 .'2
13K3
1.193
190.3
194.7
198.7
75!s
July
August
September
5.*4
4.*6
9o\4
262.9
138.'6
133.*9
1.203
200.3
200.5
199.9
75!3
October
November
December
5^3
4^8
96!i
272 !fj
141.1
137.1
1.230
199.7
200.3
200.6
75.'4
6.*4
4.8
E>97.'3
E>282.'4
E)144!7
139.'4
1.244
202.8
204.1
204.8
75!2
1>6.*5
H>5.*6
96\9
27CK5
134!6
14i.*6
1.266
206.5
207.5
208.8
75!s
July
August
September
e'.i
iis
96!8
279!2
136 .'i
145 '.2
1.295
209.2
210.8
214.0
75^3
October
November
December
5.9
p4.*3
96^6
273 .'6
13CK4
149^7
1.336
217.9
221.5
224.3
75^9
p94.'7
p254!6
pl26!6
H)pl53!6
[H>r230.4
r228.8
r228.6
E)p77;6
1981
January
February
March
April
May
June
1982
January
February
March
p5!5
(NA)
April
May
June
B)pl.365
p228.3
July
August
September
October
November
December
See note on page 60.
Graphs of these series are shown on pages 15, 29, and 30.
^VA, inventory valuation adjustment; CCAdj, capital consumption adjustment.
70
MAY 1982
CYCLICAL INDICATORS
B I
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued
MAJOR ECONOMIC
PROCESS
Qj MONEY AND CREDIT
Minor Economic
Process
Timing Class
L, L, L
85. Change in
money supply
/Ml
L, L, L
L, C, U
102. Change
in money
L, L, L
104. Change in t otal liquid assets
cnnnlu
(1(H')\
supply (MZ)
\
(Ml)
Year
Smoothed
data 1
Monthly
data
and
Credit Flows
Velocity of Money
Money
L, L, L
105. Money
supply (Ml)
in 1 Q 1 ')
in iy/£
dollars
106. Money
supply (M2)
in
in ly/z
dollars
(Bil. dol.)
(Bil. dol.)
1Q79
C, Lg, C
U L, L
108. Ratio,
personal income
to money supply
(M2)
33. Net change
in mortgage debt
held by financial
institutions and
life insurance
companies
(Ann. rate,
bil.dol.)
C, C, C
107. Ratio,
gross national
product to
money supply
(Ml)
month
(Percent)
(Percent)
(Percent)
(Percent)
(Ratio)
(Ratio)
1980
qc
on
y*J . OU
0.75
0.82
0.00
0.65
0.86
0.52
0.87
1.00
0.75
0.70
0.81
209.9
209.0
206.2
818.6
815*.6
808.9
6.527
1. 359
L353
1.355
67.63
79.57
-1.32
-0.23
1.21
-0.28
0.81
1.23
0.44
0.83
0.50
0.80
0.70
0.63
201.6
199.3
199.7
799.3
798.2
800.1
6.561
1.360
1.357
1.349
54.13
23.42
14.26
1.09
1.78
1.38
1.33
1.25
0.68
0.83
0)1.22
0.57
0.66
0.78
0.86
201.7
203.9
204.7
810.1
814.6
812.0
6.5i8
1.352
1.347
1.354
48.16
62.92
71.05
1.17
0.48
-0.72
0.67
0.97
0.01
0.69
1.15
0.76
0.85
0.82
0.84
E>204.9
203.6
200.2
808.8
807.7
800.0
6.567
1.362
1.363
1.375
i>82.61
73.37
65.39
0.82
0.36
1.19
0.57
0.75
Dl.36
1.13
0.87
0.81
0.94
0.97
0.93
200.3
199,1
200.4
798.4
796.8
803.1
6.783
1.381
1.381
1.376
56.63
61.70
48.07
E>2.10
-0.95
-0.19
1.30
0.53
0.48
0.72
1.12
0.95
0.87
0.84
0.91
203.7
200.2
198.4
810.1
808.1
806.0
6.706
1.366
1.367
1.370
55.69
43.18
48.16
July
August
September
0.23
0.40
0.02
0.74
1.06
0.33
0.95
1.16
0.68
0.97
Dl.Ol
0.98
196.6
195.8
193.7
802.8
804.9
798.8
H>6.886
1.380
1.379
Dl.385
T61.81
35.27
r27.68
October
November
December
0.39
0.81
1.03
0.63
1.14
0.70
0.86
1.11
rO.48
0.92
0.89
rO.85
193.7
194.2
195.5
800.4
805.5
808.0
6.866
1.383
1.377
1.367
r22.91
r24.08
7.16
1.75
-0.29
0.20
1.02
0.36
rO.94
0.67
eO.48
reO.94
0.78
reO.65
reO.62
198.3
197.3
198.2
813.9
814.8
r824.8
r6.678
1.357
rl.360
rl.353
r22.70
16.34
p4.81
pO.91
-0.44
pO.79
eO.94
eO.74
p!99.5
H)p829.2
January
February
March
April
May
June
July
August
September
October
November
December
0.54
1981
January
February
March
April
May
June
1982
January
February
March
April
2
May
pi. 347
(NA)
June
July
August
September
October
November
December
See note on page 60.
Graphs of these series are shown on pages 13, 31, and 32.
1
This series is a weighted 4-term moving average (with weights 1,2,2,1) placed on the terminal month of the span.
2
Average for weeks ended May 5 and 12.
MAY 1982
71
CYCLICAL INDICATORS
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued
MAJOR ECONOMIC
PROCESS
H[ MONEY AND CREDIT-Continued
Minor Economic
Process
Timing Class
Year
and
month
Credit Difficulties
Credit Flows— Continued
L, L, L
112. Net change
in bank loans
to businesses
(Ann. rate,
bil. dol.)
L, L, L
113. Net
change in
consumer installment
credit
(Ann. rate,
bil. dol.)
L, L, L
110. Total
private
borrowing
(Ann. rate,
mil. dol.)
L, L, L
14. Current
liabilities
of business
failures (u)
(Mil. dol.)
Bank Reserves
L, L, L
39. Delinquency
rate, 30 days
and over, consumer installment loans
(Percent)
L, U, U
93. Free
reserves (u)
(Mil. dol.)
Interest Rates
L, Lg, U
94. Member
bank borrowing from the
Federal
Reserve (u)
(Mil. dol.)
L, Lg, Lg
119. Federal
funds rate (u)
(Percent)
C, Lg, Lg
114. Treasury
bill rate ©
(Percent)
1980
38.88
31.93
8.28
31 62
28.44
7 85
351,964
243.15
190.79
274.24
2.37
2.32
2.53
-999
-1,465
-2,638
1,241
1,655
2,824
13.82
14.13
17.19
12.04
12.81
15.53
6.41
-35.40
11 84
-21 06
-31.76
-24 85
192,976
428.15
381.15
436.68
2.53
2.64
2.74
-2,261
-835
-169
2,455
1,018
380
17 61
10.98
9 47
14 00
9.15
7 00
July
August
September
5 46
20.65
26 00
-6 74
9.44
10 22
284,148
445.69
345.41
1,002 94
2.77
2.94
2 70
-111
-357
-1,055
395
659
1,311
9 03
9.61
10 87
8 13
9.26
10 32
October
November
December
25 90
43 91
22 69
4.82
7.40
16.19
341,912
359 24
0)239 34
288 30
2 53
2 66
2 57
p-1 018
p-1 201
p-1 587
pi 335
p2 156
pi 617
12 81
15 85
18 90
11 58
13 89
15 66
6.31
-7.09
-18 96
14.47
22.14
35 65
301,392
341.36
789.20
485 34
2.42
2.51
2 53
-1,028
-1,023
-719
1,386
1,301
994
19.08
15.93
14 70
14.72
14.90
13 48
April
May
June
35.71
41 36
32.80
32.66
fu\07/i ooc
536.88
428 20
408.54
2.40
2 40
2.30
-1,136
0)-l 968
-1,700
1,338
0)2 220
2,039
15.72
1O CO
0)19.10
13.63
fu\i c. QD
14.56
July
August .
September
41 10
28 34
22.93
ooc ocp
filQ dfi
(IMA^
\nt\)
0)35.70
0)2 22
2 35
2.28
-1 335
-1 122
-1,035
1 679
1 417
1,451
1 Q 04
17 82
15.87
14 70
15 61
14.95
October
November
December
13.62
13.32
23.36
12.02
7.20
-0.40
p260,984
2.37
2.42
2.37
-901
-314
-330
1,179
661
642
15.08
13.31
12.37
13.87
11.27
10.93
46.64
0)r58.09
r9.19
5.32
0.90
11.88
(NA)
2.48
2.39
2.24
-1,101
r-1,414
r-1,254
1,526
1,713
1,611
13.22
14.78
14.68
12.41
13.78
12.49
p53.56
1
3B.QQ
(NA)
(NA)
p-1, 234
2
-82 5
pi,
580
2
1,194
January
February
March
April
May
June
1981
January
February
March
1 R R%
24.37
1 Q C1
on -I A
1982
January
February
March
April
May
June
2
14.94
15.06
July
August
September
October
November
December
See note on page 60.
Graphs of these series are shown on pages 32, 33, and 34.
1
Average
2
Average
3
for weeks ended May 5 and 12.
for weeks ended May 5, 12, and 19.
Average for weeks ended May 6, 13, and 20.
72
MAY 1982
3
12.82
12.37
CYCLICAL INDICATORS
B
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued
MAJOR ECONOMIC
PROCESS
HQI MONEY AND CREDIT-Contmued
Minor Economic
Process
Interest Rates-Continued
Timing Class
Outstanding Debt
Lg, Lg, Lg
C, Lg, Lg
U, Lg, Lg
Lg, Lg, Lg
Lg, Lg, Lg
116. Corporate
bond yields ©
115. Treasury
bond yields ®
117. Municipal
bond yields ©
118. Secondary
market yields
on FHA
mortgages @
67. Bank rates
on short-term
business loans
®
(Percent)
(Percent)
(Percent)
(Percent)
(Percent)
Year
and
month
Lg, Lg, Lg
Lg, Lg, Lg
109. Average
prime rate
charged by
banks ©
66. Consumer
installment
credit
(Percent)
(Mil. dol.)
Lg, Lg, Lg
Lg, Lg, Lg
72. Commercial
and industrial
loans outstanding, weekly
reporting large
commercial
banks
(Mil. dol.)
95. Ratio,
consumer installment credit
to personal
income
(Percent)
1980
January
February
March
11.65
13.23
14.08
10.03
11.55
11.87
7.35
8.16
9.17
12.60
(NA)
14.63
15.'o7
15.25
15.63
18.31
306,213
308,583
309,237
159,510
162,171
162,861
14.74
14.79
14.72
April
May
June
13.36
11.61
11.12
10.83
9.82
9.40
8.63
7.59
7.63
13.45
11.99
11.85
17. *75
19.77
16.57
12.63
307,482
304,835
302,764
163,395
160,445
161,432
14.63
14.42
14.23
July
August
September
11.48
12.31
12.74
9.83
10.53
10.94
8.13
8.67
8.94
12.39
13.54
14.26
ll!56
11.48
11.12
12.23
302,202
302,989
303,841
161,887
163,608
165,775
13.98
13.90
13.78
October
November
December
13.17
14.10
14.38
11.20
11.83
11.89
9.11
9.56
10.20
14.38
14.47
14.08
15,'H
13.79
16.06
20.35
304,243
304,860
306,209
167,933
171,592
173,483
13.62
13.50
13.45
January
February
March
14.01
14.60
14.49
11.65
12.23
12.15
9.68
10.10
10.16
14.23
14.79
15.04
19191
20.16
19.43
18.05
307,415
309,260
312,231
174,009
173,418
171,838
13.36
13.34
13.34
April
May
June
15.00
15.68
14.97
12.62
12.96
12.39
10.62
10.78
10.67
15.91
16.33
16.31
19!99
17.15
19.61
20.03
314,953
316,524
318,555
174,814
178,261
180,994
13.38
13.37
13.36
July
August
September
15.67
16.34
|H>16.97
13.05
13.61
D14.14
11.14
12.26
12.92
16.76
17.96
[0)18.55
[H)2l!ii
20.39
D20.50
20.08
320,106
322,534
325,509
184,419
186,781
188,692
13.23
13.20
13.22
October
November
December
16.96
15.53
15.55
14.13
12.68
12.88
12.83
11.89
12.91
17.43
15.98
16.43
17^23
18.45
16.84
15.75
326,511
327,111
327,078
189,827
190,937
192,884
13.19
13.12
13.13
16.34
16.35
15.72
13.73
13.63
12.98
D13.28
12.97
12.82
17.38
17.10
16.41
17.'l3
15.75
16.56
16.50
327,521
327,596
D328,586
196,771
r201,612
r202,378
13.11
r!3.04
p!3.03
12.58
11.94
16.31
16.50
16.50
(NA)
H)p206,841
"210,074
(NA)
1981
1982
January
February
March
April
May
June
15.62
15.33
1
1
12.84
12.65
2
3
July
August
September
October
November
December
See note on page 60.
Graphs of these series are shown on pages 15, 34, and 35.
1
Average
2
Average
3
for weeks
for weeks
Average for May 1
'•Average for weeks
ended May 7, 14, and 21.
ended May 6, 13, and 20.
through 21.
ended May 5 and 12.
MJI MAY 1982
73
CYCLICAL INDICATORS
C I
DIFFUSION INDEXES AND RATES OF CHANGE
Q| DIFFUSION INDEXES
Year
and
month
950. Twelve leading
indicator components
(series 1, 5, 8, 12, 19,
20, 29, 32, 36, 92, 104,
952. Six lagging
indicator components
(series 62, 70, 72, 91,
95, 109)
951. Four roughly
coincident indicator
components (series
41, 47, 51, 57)
961. Average workweek
of production workers,
manufacturing (20
industries)
106)
1-month
span
6-month
span
1-month
span
6-month
span
1-month
span
6-month
span
1-month
span
9-month
span
962. Initial claims for
State unemployment
insurance, week including the 12th1
(51 areas)
1-month
span
9-month
span
963. Number of employees on private
nonagricultural payrolls
(172 industries)
1-month
span
6-month
span
1980
0.0
100.0
January
February
March
41.7
29.2
33.3
16.7
April
May
June
12.5
33.3
50.0
16.7
45.8
41.7
July
August
September
83.3
83.3
91.7
100.0
25.0
75.0
91.7
100.0
October
November
December
62.5
70.8
50.0
75.0
66.7
75.0
100.0
January
February
March
16.7
33.3
70.8
75.0
r58.3
r58.3
April
May
June
75.0
16.7
8.3
75.0
2.0
2.0
9.8
52.6
53.2
49.4
40.4
33.4
30.8
34.6
32.8
31.4
24.7
26.2
28.2
58.8
23.5
96.1
36.9
64.8
64.0
35.2
45.1
61.0
96.1
88.2
61.3
63.4
56.7
73.5
72.7
65.4
76.5
81.4
70.6
59.6
55.8
52.3
68.6
68.6
67.2
64.7
76.5
17.6
19.6
19.6
69.8
62.5
51.5
70.3
67.7
71.8
68.6
58.8
17.6
25.5
67.2
49.7
59.3
52.9
38.7
35.8
11.8
p5.9
(NA)
30.2
27.9
29.9
r28.5
r23.5
30.5
p24.7
0.0
0.0
41.7
66.7
50.0
50.0
58.3
33.3
65.0
32.5
0.0
0.0
0.0
66.7
33.3
33.3
41.7
50.0
33.3
70.0
22.5
25.0
20.0
33.3
70.6
100.0
100.0
41.7
33.3
33.3
33.3
33.3
50.0
25.0
92.5
62.5
32.5
72.5
75.0
62.7
84.3
13.7
100.0
100.0
100.0
50.0
50.0
66.7
50.0
50.0
50.0
62.5
80.0
67.5
85.0
92.5
95.0
76.5
96.1
r88.2
100.0
100.0
100.0
77.5
17.5
60.0
97.5
82.5
86.3
39.2
100.0
50.0
66.7
50.0
100.0
75.0
33.3
41.7
41.7
r31.4
50.0
75.0
83.3
83.3
66.7
83.3
66.7
83.3
75.0
72.5
15.0
67.5
25.0
12.5
83.3
66.7
83.3
83.3
66.7
66.7
40.0
55.0
15.0
12.5
15.0
66.7
66.7
66.7
66.7
50.0
33.3
62.5
15.0
25.0
r5.0
25.0
0.0
0.0
0.0
25.0
87.5
100.0
25.0
50.0
5.0
15.0
2.5
0.0
15.0
7.5
23.5
60.8
46.1
3.9
5.9
19.6
3.9
7.8
1981
45.8
50.0
16.7
100.0
75.0
75.0
50.0
16.7
25.0
16.7
50.0
37.5
50.0
50.0
25.0
25.0
r9.1
r9.1
18.2
25.0
r41.7
July
August
September
33.3
54.2
October
November
December
25.0
41.7
0.0
2
2
r33.3
2
r27.3
r45.5
2
36.4
3
75.0
0.0
0.0
0.0
0.0
0.0
5.0
5.0
plO.O
9.8
60.8
49.0
23.5
5.9
9.8
26.7
1982
January
February
March
April
May
June
2
2
3
55.0
20.0
0.0
100.0
"0.0
41.7
33.3
33.3
25.0
"33.3
5
37.5
5
50.0
5.0
95.0
r7.5
96.1
23.5
p5.9
r48.0
r36.3
p50.0
(NA)
p40.1
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 by(g), 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.
figures are the percent of components declining.
2
Excludes series 12, for which data are not available.
3
Excludes series 12 and 36, for which data are not available.
"Excludes series 57, for which data are not available.
5
Excludes series 70 and 95, for which data are not available.
74
MAY 1982
CYCLICAL INDICATORS
C
I
DIFFUSION INDEXES AND RATES OF CHANGE-Continued
Q| DIFFUSION INDEXES-Continued
Year
and
month
964. Value of manufacturers' new orders,
durable goods industries (35 industries) 1
965. Newly approved
capital appropriations,
deflated (17 manufacturing industries)
1-month
span
9-month
span
1-quarter
span
January
February
March
68.6
48.6
37.1
22.9
22.9
42.9
65
April
May
June
17.1
37.1
45.7
45.7
62.9
37.1
18
July
August
September
77.1
42.9
82.9
45.7
62.9
82.9
27
October
November
December
71.4
57.1
58.6
85.7
88.6
82.9
53
January
February
March
45.7
42.9
52.9
85.3
70.6
73.5
50
April
May
June
65.7
50.0
50.0
52.9
44.1
29.4
65
July
August
September
41.2
35.3
44.1
29.4
26.5
26.5
36
October
November
December
38.2
52.9
47.1
32.4
23.5
p36
4-Q moving
average
966. Index of industrial
production (24
industries)
1-month
span
6-month
span
967. Index of spot
market prices, raw
industrials (u)
(13 industrial materials)
1-month
span
9-month
span
968. Index of stock
prices, 500 common
stocks 2 (u)
1-month
span
960. Net profits,
manufacturing 3 ©
(about 700 companies)
9-month
span
(4-quarter span)
1980
'41
70.8
20.8
41.7
25.0
16.7
12.5
50.0
73.1
61.5
*4i
16.7
16.7
14.6
16.7
12.5
16.7
11.5
15.4
*37
39.6
70.8
66.7
37.5
70.8
87.5
'49
79.2
91.7
66.7
4
58.3
"50.0
74.1
52.8
53.8
*56
3.8
39.6
47.2
77.4
50.0
46.2
46.2
26.4
92.5
89.6
90.6
94.3
86.8
'56
53.8
76.9
57.7
46.2
42.3
38.5
92.5
88.7
76.4
84.9
96.2
94.3
60
95.8
95.8
95.8
65.4
53.8
46.2
61.5
65.4
65.4
43.4
55.7
15.1
90.6
88.7
86.8
*64
'si
83.3
62.5
45.8
79.2
70.8
58.3
30.8
30.8
65.4
38.5
38.5
46.2
66.0
42.5
85.8
79.2
67.3
59.6
60
p47
56.2
62.5
45.8
54.2
58.3
45.8
69.2
26.9
38.5
46.2
46.2
53.8
81.1
30.2
67.3
59.6
44.2
42.3
*59
87.5
52.1
12.5
31.3
20.8
16.7
61.5
61.5
42.3
61.5
42.3
23.1
19.2
40.4
46.2
32.7
38.5
26.9
46.2
23.1
23.1
15.4
58.7
65.4
67.3
19.2
10.6
34.6
28.8
0.0
1981
(NA)
20.8
8.3
P17.6
20.8
8.3
8.3
4.2
0.0
(NA)
9.6
14.4
10.6
34.6
1982
January
February
March
r35.3
r33.3
r75.0
20.8
p41.2
p33.3
44.1
44.1
April
May
June
(NA)
42.3
34.6
38.5
pO.O
30.8
5
5
88.5
38.5
July
August
September
October
November
December
See note on page 74.
Graphs of these series are shown on page 37.
1
Based on 35 industries through April 1981 and on 34 industries thereafter.
2
Based on 54 industries for January 1980, on 53 industries through May 1981, and on 52 industries thereafter. Data for component industries are not shown in table C2 but are available from the source.
3
This is a copyrighted series used by permission; it may not be reproduced without written permission from Dun 5 Bradstreet, Inc.
4
Based on 12 components (excluding rosin) .
5
Based on average for May 4, 11, and 18.
MAY 1982
75
CYCLICAL INDICATORS
C I
DIFFUSION INDEXES AND RATES OF CHANGE—Continued
Q DIFFUSION INDEXES-Continued
Year
and
quarter
a. Actual
expenditures
(1-Q span)
b. Later
anticipations
c. Early
anticipations
(1-Q span)
(1-Q span)
(4-Q span)
(4-Q span)
(4-Q span)
Actual
Anticipated
Actual
Anticipated
Actual
973. Net sales, manufacturing
and trade !(u)
972. Net profits, manufacturing
and trade 1 ®
971. New orders, manufacturing ! (u)
970. Business expenditures for new plant and
equipment (18 industries)
Anticipated
(4-Q span)
(4-Q span)
(4-Q span)
1979
First quarter
Second quarter . . . .
Third quarter
Fourth quarter . . . .
86.4
52.3
63.6
68.2
63.6
50.0
68.2
63.6
47.7
68.2
88.6
77.3
85
81
73
78
80
84
80
72
78
74
70
72
78
82
80
70
87
84
82
82
85
88
84
78
74
63
60
60
66
75
57
62
62
54
57
56
66
73
59
61
73
62
68
66
72
80
63
67
68
70
62
62
74
74
76
76
60
66
60
60
70
69
74
72
70
74
71
68
78
76
80
80
1980
First quarter
Second quarter . . . .
Third quarter
Fourth quarter . . . .
77.3
54.5
81.8
59.1
50.0
45.5
59.1
36.4
54.5
40.9
81.8
77.3
1981
First quarter
Second quarter . . . .
Third quarter
Fourth quarter . . . .
72.7
72.7
70.5
63.6
72.7
40.9
68.2
36.4
54.5
59.1
68.2
(NA)
59.1
59.1
77.3
1982
First quarter
Second quarter . . . .
Third quarter
Fourth quarter . . . .
60
68
(NA)
59.1
61
66
(NA)
65
70
(NA)
Q| DIFFUSION INDEXES-Continued
Year
and
quarter
974. Number of employees,
manufacturing and trade 1 (u)
Anticipated
Actual
(4-Q span)
(4-Q span)
975. Level of inventories,
manufacturing and trade * (u)
Anticipated
Actual
(4-Q span)
(4-Q span)
976. Selling prices, manufacturing 1 (u)
977. Selling prices, wholesale
trade ' (u)
Actual
Actual
Anticipated
(4-Q span)
(4-Q span)
Anticipated
(4-Q span)
(4-Q span)
978. Selling prices, retail
trade ' <g)
Actual
Anticipated
(4-Q span)
(4-Q span)
1979
First quarter
Second quarter . . . .
Third quarter
Fourth quarter . . . .
62
60
60
58
60
60
58
56
80
76
73
75
70
74
71
68
92
93
92
94
86
88
88
86
96
95
95
96
88
90
92
90
94
95
94
96
90
92
92
90
58
54
53
51
54
56
48
50
67
61
64
60
62
70
53
56
90
88
90
90
87
90
83
86
92
90
92
90
90
92
87
88
92
91
94
90
90
93
84
90
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
89
89
84
94
90
86
86
90
90
92
87
1980
First quarter
Second quarter . . . .
Third quarter
Fourth quarter . . . .
1981
First quarter
Second quarter . . . .
Third quarter
Fourth quarter . . . .
1982
First quarter
Second quarter . . . .
Third quarter
Fourth quarter . . . .
(NA)
50
51
(NA)
54
56
(NA)
80
76
(NA)
82
78
(NA)
82
81
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 by(u), 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.
1
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
MAY 1982
CYCLICAL INDICATORS
DIFFUSION INDEXES AND RATES OF CHANGE—Continued
m SELECTED DIFFUSION INDEX COMPONENTS: Basic Data and Directions of Change
Diffusion index components
1982
1981
September
October
November
December
March1"
February
January
April P
961. AVERAGE WORKWEEK OF PRODUCTION WORKERS, MANUFACTURING '
(Average weekly hours)
All manufacturing industries
39.3
Percent rising of 20 components
(15)
+
39.5
39.3
39.0
(62)
(15)
(25)
37.6
38.1
37.5
37.7
37.3
+
39.0
39.5
(8)
(95)
(5)
+
39.1
(50)
Durable goods industries:
37.6
37.7
34.6
32.6
+
+
r38.2
37.6
37.9
37.4
+
+
38.0
37.7
40.0
39.7
39.5
39.2
38.3
38.4
+
+
r40.2
r39.6
39.8
38.8
+
40.1
38.4
40.0
40.7
39.6
40.6
39.2
40.3
37.9
39.0
+
+
r39.6
r40.7
39.3
40.1
+
+
39.6
40.2
+
+
39.9
40.5
39.3
40.3
39.2
39.4
38.1
38.7
+
-i-
39.8
r40.9
39.4
40.4
+
+
39.5
41.6
+
40.4
39.0
40.3
39.0
39.9
38.4
38.6
36.9
+
+
40.0
38.7
40.0
38.5
+
39.5
38.6
39.8
38.1
39.1
36.1
+
+
40.3
38.3
39.8
37.0
39.7
36.7
37.8
35.1
31.3
30.7
+
+
r38.1
r35.4
37.5
35.0
37.4
34.8
41.2
36.5
+
+
r42.2
r37.4
41.7
37.1
40.8
44.3
+
r41.2
r43.5
40.7
43.4
37.8
33.6
+
+
r40.0
r35.5
+
+
Lumber and wood products
Furniture and fixtures
37.3
37.5
Stone, clay, and glass products
Primary metal industries
40.3
40.6
Fabricated metal products
Machinery, except electrical
39.5
40.3
+
+
Electric and electronic equipment
Transportation equipment
39.6
39.9
Instruments and related products
Miscellaneous manufacturing
40.5
38.4
40.0
39.8
o
o
+
o
o
Nondurable goods industries:
Food and kindred products
Tobacco manufacturers
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
39.2
40.2
+
39.5
39.4
38.9
35.2
+
+
39.3
35.7
38.8
35.6
43.1
37.1
o
42.4
37.1
41.9
36.9
+
41.8
37.2
41.3
42.3
o
+
41.3
42.6
41.5
42.1
42.3
43.3
39.6
36.1
+
+
+
+
40.0
36.8
39.6
38.8
+
+
39.4
36.1
39.6
36.7
964. VALUE OF MANUFACTURERS' NEW ORDERS, DURABLE GOODS INDUSTRIES >
(Millions of dollars)
All durable goods industries
-
Percent rising of 34 components
86,278
-
(44)
77,804
+
Primary metals
Fabricated metal products
+
11,422
10,054
Machinery, except electrical
Electrical machinery
+
17,498
12,487
-
15,984
10,370
Transportation equipment . .
Other durable goods industries
+
18,627
16,190
+
15,780
16,218
79,764
79,956
(53)
(38)
-
40.4
42.8
39.5
35.8
+
+
79,801 +
80,296
-
39.7
35.4
2
77,095
+
(35)
(44)
77,157
(41)
(44)
9,153
8,757
+
8,584
9,555
+
7,763
9,778
15,391
11,506
-
15,162
11,337
+
14,710
12,872
-
14,085
12,435
16,959
15,329
+
+
19,053
16,110
+
-
19,440
15,733
-
18,543
15,491
+
9,378
9,270
+
+
17,472
11,873
+
-
17,605
11,650
-
15,429
15,888
+
-
16,071 +
15,790 -
NOTE: To facilitate interpretation, the month-to-month directions of change are shown along with the numbers:
preliminary; and "NA", not available.
42.2
36.8
(47)
10,032
9,262
10,170
9,282
+
-
( + ) = rising, (o) = unchanged, and ( —) = falling.
+
8,030
8,573
The "r" indicates revised; "p"
x
Data
2
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.
MAY 1982
77
CYCLICAL INDICATORS
C
I
DIFFUSION INDEXES AND RATES OF CHANGE—Continued
Q SELECTED DIFFUSION INDEX COMPONENTS: Basic Data and Directions of Change-Continued
Diffusion index components
1981
1982
October
September
November
Januaryr
December
February1"
Aprilp
Marchr
966. INDEX OF INDUSTRIAL PRODUCTION '
(1967 = 100)
All industrial production
-
.
151.6
-
(12)
Percent rising of 24 components *
149.1
-
146.3
-
(8)
(21)
143.4
-
140.7
+
142.7
-
(75)
(33)
(21)
141.5
-
140.7
(21)
(33)
Durable manufactures:
Lumber and products
Furniture and fixtures
-
113.2
159.9
-
109.6
157.2
-
104.7
153.7
+
-
104.8
149.4
Clay, glass and stone products
Primary metals
-
147.3
108.6
-
143.4
102.3
-
135.9
-
131.5
Fabricated metal products
Nonelectrical machinery
-
136.8
173.9
-
133.8
169.7
-
130.2
167.9
Electrical machinery
Transportation equipment
-
180.0
114.2
-
179.6
110.6
-
-
169.7
154.2
-
168.6
151.5
Foods
Tobacco products
-
150.7
122.4
+
+
Textile mill products
Apparel products
-
136.3
122.5
Paper and products
Printing and publishing
+
-
Chemicals and products
Petroleum products
Rubber and plastics products
Leather and products
-
144.3
+
+
104.9
148.4
+
103.4
150.1
(NA)
(NA)
+
128.5
+
134.0
-
133.7
89.6
(NA)
78.0
-
126.1
167.4
-
120.7
160.9
+
-
121.4
159.4
-
120.1
156.4
-
118.9
154.2
175.7
106.1
-
170.7
103.7
-
168.2
96.6
+
+
172.8
102.1
+
172.2
104.8
+
+
173.7
106.9
+
167.1
151.7
-
166.8
147.9
-
162.2
144.9
+
-
164.5
140.8
+
163.0
143.0
-
161.7
142.7
151.4
124.3
+
-
153.0
119.6
-
152.8
112.6
+
151.1
1.12.7
+
+
151.7
124.7
-
150.6
-
132.5
117.8
-
126.1
113.8
122.8
114.1
-
120.0
+
125.6
-
+
158.6
145.9
-
153.3
145.6
-
152.6
143.4
+
146.6
145.3
+
+
148.3
145.6
+
+
150.9
146.4
-
149.0
144.0
-
148.5
143.0
-
216.3
129.1
-
208.8
128.3
-
204.6
128.0
+
199.8
128.3
-
196.7
123.3
+
-
201.5
119.1
+
200.2
122.5
+
123.0
+
282.2
+
276.0
-
264.1
-
247.3
-
244.7
64.0
+
249.3
63.1
+
+
250.8
69.7
Metal mining
Coal
-
121.5
161.9
+
119.8
166.9
-
115.4
160.8
-
110.9
145.5
+
+
121.3
147.9
+
120.6
156.0
-
110.1
155.6
Oil and gas extraction
Stone and earth minerals
+
148.8
123.4
+
-
148.9
122.0
-
148.4
116.7
+
-
150.5
115.7
+
+
151.5
115.8
+
146.7
119.5
-
142.3
118.2
Instruments .
Miscellaneous manufactures
.
. . .
96.6
99.2
89.7
88.2
83.0
Nondurable manufactures:
71.2
70.8
(NA)
(NA)
65.6
(NA)
(NA)
(NA)
125.5
(NA)
(NA)
(NA)
(NA)
(NA)
(NA)
66.0
Mining:
NOTE: To facilitate interpretation, the month-to-month directions of change are shown along with the numbers:
preliminary; and "NA", not available.
( + ) = rising, (o) = unchanged, and (-)
= falling.
(NA)
-
150.2
-
137.9
The "r" indicates revised; "p",
*Data are seasonally adjusted by the source agency.
Where actual data for separate industries are not available, estimates are used to compute the percent rising.
2
78
(NA)
MAY 1982
CYCLICAL INDICATORS
C
I
DIFFUSION INDEXES AND RATES OF CHANGE—Continued
Q SELECTED DIFFUSION INDEX COMPONENTS: Basic Data and Directions of Change-Continued
Diffusion index components
1982
1981
September
October
November
December
January
February
March
May1
April
967. INDEX OF SPOT MARKET PRICES, RAW INDUSTRIALS 2
Raw industrials price index (1967 = 100) . . . .
-
Percent rising of 13 components
283.0 -
(42)
277.2 (38)
270.5 (27)
264.2 (46)
263.4 -
261.0 -
(38)
(35)
(42)
254.5 -
247.4 -
246.6
(38)
(31)
Dollars
Copper scrap
(pound) . .
(kilogram) . .
-
0.620 1.367
0.609 1.343
0.591 1.303
0.578 1.274
0.572 1.261
0.565 1.246
0.530 +
1.168
0.534 +
1.177
0.538
1.186
Lead scrap
(pound) . .
(kilogram)..
-
0.271 0.597
0.247 0.545
0.221 0.487
0.180 0.397
0.168 +
0.370
0.175 0.386
0.160 0.353
0.152 0.335
0.150
0.331
Steel scrap
(U S ton)
(metric ton)..
-
98.000 108.025
88.500 - 80.000 + 81.600 + 88.000 - 83.750 - 74.600 82.232
89.948
97.002
97.554
88.184
92.318
72.750 80.192
70.000
77.161
Tin
(pound)
(kilogram) . .
+
6.746 +
14.872
6.820 +
15.035
7.040 +
15.520
7.120 +
15.697
7.200 +
15.873
7.280 16.049
6.080 13.404
5.830 +
12.853
5.890
12.985
Zinc
(pound). .
(kilogram)..
+
0.499 1.100
0.479 o
1.056
0.479 1.056
0.451 0.994
0.433 +
0.955
0.436
0.961
-
0.402 0.886
0.362
0.798
-
0.360
0.794
(yard) . .
(meter) . .
+
0.246 0.269
0.242 0.265
0.238 0.260
0.229 +
0.250
0.233 o
0.255
0.233 +
0.255
0.235 +
0.257
0.244
0.267
-
0.243
0.266
. .(pound) .
(kilogram) . .
-
0.609 1.343
0.608 1.340
0.574 1.265
0.553 +
1.219
0.577 1.272
0.571 +
1.259
0.598 +
1.318
0.618 +
1.362
0.628
1.384
Print cloth
(yard) . .
(meter) . .
o
0.845 0.924
0.820 0.897
0.780 0.853
0.734 0.803
0.710 0.776
0.700 0.766
0.693 0.758
0.650 0.711
0.630
0.689
Wool tops
(pound) . .
(kilogram) . .
+
3.630 8.003
3.600 o
7.937
3.600 o
7.937
3.600 7.937
3.580 7.892
3.520 7.760
3.460 7.628
3.412 7.522
3.400
7.496
Hides
(pound).,
(kilogram) . .
+
0.486 +
1.071
0.525 +
1.157
0.558 +
1.230
0.584 +
1.287
0.590 o
1.301
0.590 1.301
0.584 1.287
0.545 +
1.202
0.562
1.239
Rosin
(100 pounds) . .
(100 kilograms)..
-
Rubber
(pound) . .
(kilogram) . .
-
0.450 +
0.992
0.464
1.023
-
0.462 +
1.019
0.484 1.067
0.483 1.065
0.470 +
1.036
0.471 1.038
0.460 1.014
0.459
1.012
Tallow
(pound)
(kilogram) . .
-
0.187 +
0.412
0.190 0.419
0.179 +
0.395
0.180 0.397
0.167
0.368
0.161 +
0.355
0.171 +
0.377
0.177 +
0.390
0.182
0.401
Burlap
Cotton
. .
46.100 + 47.000 o 47.000 o 47.000 o 47.000 o 47.000 + 53.500 - 49.000 - 47.000
103.616
108.025
117.946
103.616
101.632
103.616
103.616
103.616
103.616
-
NOTE: To facilitate interpretation, the month-to-month directions of change are shown along with the numbers: ( + ) = rising, (o) = unchanged, and (-) = falling. The "r" indicates revised; "p",
preliminary; and "NA", not available.
Average for May 4, 11, and 18.
2
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.
ItO MAY 1982
79
OTHER IMPORTANT ECONOMIC MEASURES
|A
I
NATIONAL INCOME AND PRODUCT
RM GNP AND PERSONAL INCOME
Year
and
quarter
b. Difference
a. Total
(Ann. rate,
bil. dol.)
(Ann. rate,
bil. dol.)
217. Per capita
GNP in 1972
, Icollars
50. Gross national product in 1972 dollars
200. Gross national product in current dollars
c. Percent
change at
annual rate
b. Difference
a. Total
(Ann. rate,
bil. dol.)
(Ann. rate,
bil. dol.)
c. Percent
change at
annual rate
213. Final sales
in 1972 dollars
(Ann. rate.
bil. dol.)
(Ann. rate,
dollars)
1979
First quarter
Second quarter . . . .
Third quarter
Fourth quarter . . . .
2,340.6
2,374.6
2,444.1
2,496.3
68.7
34.0
69.5
52.2
12.7
2,571.7
2,564.8
2,637.3
2,730.6
75.4
-6.9
72.5
93.3
12.6
-1.1
11.8
14.9
1,501.9
1,463.3
1,471.9
1,485.6
19.2
4'.7
11.4
4.6
1,516.4
1,510.4
1,515.8
1,498.4
5.4
-17.4
r-0.9
rl,482.2
r-16.2
1,479.9
1,473.4
1,488.2
1,490.6
5.9
12.2
8.8
3.9
14.1
-6.5
14.8
6,602
6,556
6,602
6,592
1,464.4
1,455.0
1,480.6
1,491.3
6,624
6,437
6,456
6,499
1,502.8
1,462.0
1,476.9
1,492.7
6,620
6i580
6,586
6,494
1,517.8
l',499*.6
1,500.9
1,494.2
r6,410
rl,499.4
-1.7
4.1
0.6
2.4
1980
First quarter
Second quarter . . . .
Third quarter
Fourth quarter . . . .
3.1
11.3
-38.6
8.6
-9.9
2.4
3.8
13.7
1981
First quarter
Second quarter . . . .
Third quarter
Fourth quarter . . . .
2,853.0
2,885.8
2,965.0
2,998.3
122.4
32.8
79.2
33.3
8.6
30.8
-i!e
-e'.o
1.4
-4.5
1982
r2,991.6
First quarter
Second quarter . . . .
Third quarter
Fourth quarter . . . .
r-6.7
Q PERSONAL CONSUMPTION EXPENDITURES
Q GNP AND PERSONAL INCOME-Continued
Year
and
quarter
230. Total in current
dollars
Disposable personal income
224. Current dollars
(Ann. rate,
bil. dol.)
225. Constant
(1972) dollars
(Ann. rate,
bil. dol.)
r-4.3
231. Total in 1972
dollars
232. Durable goods
in current dollars
233. Durable goods
in 1972 dollars
227. Per capita in
1972 dollars
(Ann. rate,
dollars)
(Ann. rate,
bil. dol.)
(Ann. rate,
bil. dol.)
(Ann. rate,
bil. dol.)
(Ann. rate,
bil. dol.)
1979
First quarter
Second quarter . . . .
Third quarter
Fourth quarter . . . .
1,580.2
1,612.8
1,663.8
1,710.1
1,005.7
1,006.9
1,015.7
1,017.7
4,487
4,480
4,506
4,501
1,454.1
1,478.0
1,529.1
1,582.3
925.5
922.8
933.4
941.6
212.5
207.4
213.3
216.1
149.6
144.2
146.7
146.0
1,765.1
1,784.1
1,840.6
1,897.0
1,021.0
1,008.2
1,018.5
1,025.8
4,503
4,435
4,468
4,488
1,631.0
1,626.8
1,682.2
1,751.0
943.4
919.3
930.8
946.8
220.9
194.4
208.8
223.3
145.4
126.2
132.6
139.1
1,947.8
1,985.6
2,042.0
2,088.5
1,033.3
1,036.8
1,043.6
1,047.9
4,511
4,517
4,535
4,541
1,810.1
1,829.1
1,883.9
1,908.3
960.2
955.1
962.8
957.5
238.3
227.3
236.2
226.4
146.8
137.4
140.3
133.1
r2, 113.0
rl,047.7
r4,531
rl, 945.1
r964.4
r236.5
r!38.0
1980
First quarter
Second quarter . . . .
Third quarter
Fourth quarter . . . .
1981
First quarter
Second quarter . . . .
Third quarter
Fourth quarter . . . .
1982
First quarter
Second quarter . . . .
Third quarter
Fourth quarter . . . .
NOTE: Series are seasonally adjusted except for those, indicated by ®, that appear to contain no seasonal movement. Series numbers are for identification only and do not reflect series relationships or order.
Complete titles and sources are listed at the back of this issue. The "r" indicates revised; "p", preliminary; "e", estimated; "a", anticipated; and "NA", not available.
Graphs of these series are shown on pages 40 and 41.
MAY 1982
OTHER IMPORTANT ECONOMIC MEASURES
A
I
NATIONAL INCOME AND PRODUCT—Continued
01 PERSONAL CONSUMPTION EXPENDITURES-Continued
Year
ana
quarter
onrl
236. Nondurable
goods in current
dollars
(Ann. rate,
bil. dol.)
238. Nondurable
goods in 1972
dollars
(Ann. rate,
bil. dol.)
HH GROSS PRIVATE DOMESTIC INVESTMENT
237. Services in
current dollars
239. Services in
1972 dollars
(Ann. rate,
bil. dol.)
(Ann. rate,
bil. dol.)
240. Total in
current dollars
(Ann. rate,
bil. dol.)
241. Total in
1972 dollars
(Ann. rate,
bil. dol.)
242. Fixed investment, total, in
current dollars
243. Fixed investment, total, in
1972 dollars
(Ann. rate,
bil. dol.)
(Ann. rate,
bil. dol.)
1979
First quarter
Second quarter . . . .
Third quarter
Fourth quarter . . . .
571.8
586.4
611.5
639.2
351.1
350.6
355.4
361.3
669.9
684.2
704.3
727.0
424.8
428.0
431.3
434.3
408.3
423.2
421.7
410.0
237.7
238.7
232.6
221.5
384.0
390.1
408.3
410.8
222.3
220.4
225.0
222.2
661.1
664.0
674.2
703.5
361.5
356.6
354.9
360.4
749.0
768.4
799.2
824.2
436.5
436.5
443.3
447.3
415.6
390.9
377.1
397.7
218.3
200.5
195.3
200.5
413.1
383.5
393.2
415.1
219.2
199.2
200.2
207.6
726.0
735.3
751.3
760.3
364.5
367.0
368.8
368.8
845.8
866.5
896.4
921.5
448.9
450.7
453.7
455.6
437.1
458.6
463.0
443.3
211.6
219.7
221.5
206.3
432.7
435.3
435.6
434.0
213.1
208.9
206.5
202.1
r761.6
r367.6
r946.9
r458.9
r391.4
r!84.1
r430.7
r201.3
1980
First quarter
Second quarter . . . .
Third quarter
Fourth quarter . . . .
1981
First quarter
Second quarter . . . .
Third quarter
Fourth quarter . . . .
1982
First quarter
Second quarter . . . .
Third quarter
Fourth quarter . . . .
D
Year
and
quarter
GROSS PRIVATE
DOMESTIC INVEST.-Con.
245. Change in
business inventories in current
dollars
(Ann. rate,
bil. dol.)
30. Change in
business inventories in 1972
dollars
(Ann. rate,
bil. dol.)
HI
260. Total in
current dollars
(Ann. rate,
bil. dol.)
261. Total in
1972 dollars
(Ann. rate,
bil. dol.)
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.)
266. State and
local government
in current dollars
(Ann. rate,
bil. dol.)
267. State and
local government
in 1972 dollars
(Ann. rate,
bil. dol.)
1979
First quarter
Second quarter . . . .
Third quarter
Fourth quarter . . . .
24.3
33.1
15.4
18.4
13.3
-0.8
7.6
-0.7
458.2
465.1
475.4
496.4
280.6
280.3
281.1
285.3
164.8
163.6
165.1
178.1
102.9
100.8
516.8
530.0
533.5
558.6
290.1
291.9
288.2
289.8
103.1
293.4
301.6
310.4
318.3
177.7
179.4
181.2
182.2
190.0
198.7
194.9
212.0
107.6
110.7
106.9
107.4
326.8
331.3
338.6
346.6
182.5
181.2
181.3
182.4
293.6
289.5
288.3
295.4
221.6
219.5
226.4
253.3
111.2
108.7
109.6
116.6
354.9
357.9
362.5
368.7
182.5
180.7
178.8
178.8
r295.4
r254.0
rl!7.8
r372.5
r!77.6
99.9
1980
First quarter
Second quarter . . . .
Third quarter
Fourth quarter . . . .
2.5
7.4
-0.9
-16.0
-17.4
-5.0
-7.2
4.5
-1.4
10.8
14.9
1.3
1981
First quarter
Second quarter . . . .
Third quarter
Fourth quarter . . . .
9.4
4.2
576.5
577.4
588.9
622.0
r-39.3
r-17.2
r626.5
23.3
27.5
1982
First quarter
Second quarter . . . .
Third quarter
Fourth quarter . . . .
See note on page 80.
Graphs of these series are shown on pages 41, 42, and 43.
MAY 1982
81
OTHER IMPORTANT ECONOMIC MEASURES
A
I
NATIONAL INCOME AND PRODUCT—Continued
H
Qj FOREIGN TRADE
Year
and
quarter
255. Constant
(1972) dollars
250. Current
dollars
(Ann. rate,
bil. dol.)
(Ann. rate,
bil. dol.)
(Ann. rate,
bil. dol.)
220. National income in current
dollars
280. Compensation of
employees
257. Constant
(1972) dollars
253. Current
dollars
256. Constant
(1972) dollars
252. Current
dollars
(Ann. rate,
bil. dol.)
(Ann. rate,
bil. dol.)
Imports of goods and services
Exports of goods and services
Net exports of goods and services
NATIONAL INCOME
AND ITS COMPONENTS
(Ann. rate,
bil. dol.)
(Ann. rate,
bil. dol.)
(Ann. rate,
bil. dol.)
1979
First quarter
Second quarter . . . .
Third quarter
Fourth quarter . . . .
36.0
31.6
41.1
42.2
259.1
266.8
293.1
306.3
141.1
140.5
151.3
154.8
239.2
258.6
275.2
298.7
105.1
108.8
110.2
112.6
1,903.6
1,932.0
1,986.2
2,031.3
1,409.9
1,439.0
1,476.7
1,518.1
17.1
44.5
23.3
50.1
51.7
57.6
48.5
337.3
333.3
342.4
346.1
165.9
160.5
160.5
157.4
329.1
316.2
297.9
322.7
115.8
108.9
102.8
108.9
2,088.5
2,070.0
2,122.4
2,204.8
1,558.0
1,569.0
1,597.4
1,661.8
29.2
20.8
29.3
24.7
50.9
46.2
43.2
39.2
367.4
368.2
368.0
365.6
162.5
161.5
160.1
157.4
338.2
347.5
338.7
341.0
111.6
115.4
116.9
118.2
2,291.1
2,320.9
2,377.6
2,399.1
1,722.4
1,752.0
1,790.7
1,821.3
r28.6
r38.2
r356.5
r!52.1
r327.9
rl!3.8
p2,394.6
rl,844.2
19.9
8.2
17.9
7.6
1980
First quarter
Second quarter . . . .
Third quarter
Fourth quarter . . . .
8.2
1981
First quarter
Second quarter . . . .
Third quarter
Fourth quarter . . . .
1982
First quarter
Second quarter . . . .
Third quarter
Fourth quarter . . . .
H SAVING
Jj NATIONAL INCOME AND ITS COMPONENTS-Continued
Year
and
quarter
282. Proprietors'
income with inventory valuation and
capital consumption adjustments
(Ann. rate,
bil. dol.)
284. Rental income
of persons with
capital consumption adjustment
(Ann. rate,
bil. dol.)
286. Corporate
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.)
295. Business
saving
(Ann. rate,
bil. dol.)
292. Personal
saving
(Ann. rate,
bil. dol.)
1979
First quarter
Second quarter . . . .
Third quarter
Fourth quarter . . . .
127.8
129.4
132.9
136.3
30.7
30.1
30.3
31.0
201.9
196.6
199.5
189.4
133.4
136.9
146.8
156.5
407.4
416.2
422.3
402.0
304.4
310.3
320.5
315.7
83.8
90.9
89.3
80.7
133.7
124.9
129.7
134.0
31.2
31.5
32.0
32.4
200.2
169.3
177.9
183.3
165.4
175.3
185.3
193.3
404.5
394.5
402.0
406.7
326.7
325.8
334.6
339.3
110.0
111.4
132.1
134.1
137.1
135.9
32.7
33.3
33.9
34.5
203.0
190.3
195.7
177.6
200.8
211.0
220.2
229.7
442.6
465.3
469.4
444.7
362.2
368.7
379.3
379.8
106.6
106.9
128.0
r!27.7
34.8
p!49.9
r238.0
p400.6
p375.2
rl!5.4
1980
First quarter
Second quarter . . . .
Third quarter
Fourth quarter . . . .
86.4
97.6
1981
First quarter
Second quarter . . . .
Third quarter
Fourth quarter . . . .
88.9
1982
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.
82
MAY 1982
OTHER IMPORTANT ECONOMIC MEASURES
A
I
NATIONAL INCOME AND PRODUCT—Continued
0| SHARES OF GNP AND NATIONAL INCOME
^» SAVING-Continued
Year
and
quarter
298. Government
surplus or deficit,
total
(Ann. rate,
bil. dol.)
293. Personal
saving rate
(percent of disposable personal
income)
(Percent)
Percent of gross national product
235. Personal consumption expenditures, total
(Percent)
248. Nonresidential
fixed investment
249. Residential
fixed investment
(Percent)
(Percent)
247. Change in
business inventories
251. Net exports of
goods and services
(Percent)
(Percent)
1979
First quarter
Second quarter . . . .
Third quarter
Fourth quarter . . . .
18.1
13.9
11.3
4.4
5.3
5.6
5.4
4.7
62.1
62.2
62.6
63.4
11.4
11.5
11.8
11.6
5.0
4.9
4.9
4.8
4.9
6.2
6.1
5.1
63.4
63.4
63.8
64.1
11.6
11.3
11.1
11.1
4.5
3.6
3.8
4.1
4.6
5.4
5.2
6.1
63.4
63.4
63.5
63.6
11.1
11.2
11.3
11.3
4.1
3.8
3.4
3.1
r65.0
11.3
3.1
1.0
1.4
0.5
0.0
0.9
0.3
0.7
0.3
0.1
0.3
0.3
0.7
1.7
0.9
1980
First quarter
Second quarter . . . .
Third quarter
Fourth quarter . . . .
-9.6
-42.5
-45.6
-30.8
-0.6
-0.6
1981
First quarter
Second quarter . . . .
Third quarter
Fourth quarter . . . .
-9.7
-11.2
-17.9
-64.1
1.0
0.7
1.0
0.8
0.2
0.8
0.9
0.3
1982
First quarter
Second quarter . . . .
Third quarter
Fourth quarter . . . .
p-90.0
r5.5
-1.3
rl.O
0| SHARES OF GNP AND NATIONAL INCOME-Continued
Year
and
quarter
Percent of GNP-Continued
Percent of national income
265. Federal Government purchases of
goods and services
268. State and local
government purchases
of goods and services
64. Compensation of
employees
(Percent)
(Percent)
(Percent)
283. Proprietors'
income with IVA
and CCAdj l
285. Rental income
of persons with
CCAdj »
(Percent)
(Percent)
289. Net interest
287. Corporate
profits with IVA
and CCAdj *
(Percent)
(Percent)
1979
First quarter
Second quarter . . . .
Third quarter
Fourth quarter . . . .
9.3
7.0
7.1
7.4
7.7
1.5
1.5
1.5
1.5
9.6
8.2
8.4
8.3
7.9
8.5
8.7
8.8
1.4
1.4
1.4
1.4
8.9
8.2
8.2
7.4
8.8
9.1
9.3
9.6
7.0
6.9
6.8
7.1
12.5
12.7
12.7
12.8
74.1
74.5
74.3
74.7
6.7
6.7
6.7
6.7
1.6
1.6
1.5
1.5
7.4
7.7
7.4
7.8
12.7
12.9
12.8
12.7
74.6
75.8
75.3
75.4
6.4
6.0
6.1
6.1
7.8
7.6
7.6
8.4
12.4
12.4
12.2
12.3
75.2
75.5
75.3
75.9
5.8
5.8
5.8
5.7
8.5
r!2.5
p77.0
10.6
10.2
10.0
1980
First quarter
Second quarter . . . .
Third quarter
Fourth quarter . . . .
1981
First quarter
Second quarter . . . .
Third quarter
Fourth quarter . . .
1982
First quarter
Second quarter . . . .
Third quarter
Fourth quarter . . .
p5.3
pi. 5
p6.3
p9.9
See note on page 80.
Graphs of these series are shown on pages 46 and 47.
^VA, inventory valuation adjustment; CCAdj, capital consumption adjustment.
BUI MAY 1982
83
OTHER IMPORTANT ECONOMIC MEASURES
B I
PRICES, WAGES, AND PRODUCTIVITY
Q| PRICE MOVEMENTS
Implicit price deflator,
gross national product
Year
and
month
310. Index
(1972 = 100)
310c. Change
over 1 -quarter
spans l
(Ann. rate,
percent)
Fixed-weighted price index,
gross business product
311. Index
(1972 = 100)
311c. Change
over 1 -quarter
spans '
(Ann. rate,
percent)
Consumer prices, food
Consumer prices, all items
320. Index ©
320c. Change
over 1-month
spans l
320c. Change
over 6-month
spans '
(1967 = 100)
(Percent)
(Ann. rate,
percent)
322. Index
(1967 = 100)
322c. Change
over 1-month
spans '
322c. Change
over 6-month
spans '
(Percent)
(Ann. rate,
percent)
1980
January
February
March
m.2
April
May
June
175*.3
July
August
September
179^2
October
November
December
183! 8
9.3
233.2
236.4
239.8
1.4
1.2
1.4
15.5
15.0
14.5
244.5
244.9
246.9
0.4
0.2
0.8
242.5
244.9
247.6
0.9
0.9
1.0
11.6
10.4
248.6
250.4
251.7
0.7
0.7
0.5
10.8
12.2
9.6
247.8
249.4
251.7
0.1
0.7
1.0
10.0
10.3
10.3
253.7
257.8
261.5
0.8
1.6
1.4
12.5
13.4
13.5
9.3
253.9
256.2
258.4
1.1
1.1
1.0
11.8
12.4
11.4
263.7
266.6
268.2
0.8
1.1
0.6
12.7
10.5
260.5
263.2
265.1
0.8
1.0
0.6
10.0
269.3
271.0
271.7
0.4
0.6
0.3
6.6
4.6
3.8
266.8
269.0
271.3
0.4
0.8
0.7
272.3
272.6
273.2
0.2
0.1
0.2
4.3
4.1
4.9
274.4
276.5
279.3
1.1
0.8
1.1
9.8
9.1
275.0
276.5
278.3
0.7
0.5
0.7
5.0
5.0
4.7
7.5
279.9
280.7
281.5
0.4
0.5
0.4
7.2
6.0
3.2
279.0
279.3
279.5
0.3
0.1
0.1
4.8
4.9
2.8
r4.8
282.5
283.4
283.1
0.3
0.2
2.8
281.5
283.2
282.2
0.7
0.6
2.9
-0.3
284.3
0.2
283.0
10.1
17B.2.
9.8
9.8
182 A
9.2
ise!?
10.7
19CK9
9.6
7.7
7.9
6.8
7.7
8.0
1981
January
February
March
9.8
188.1
April
May
June
. .
10.5
195.7
8.2
6.4
199.*5
19l!i
July
August
September
195 '.6
October
November
December
200." i
9.9
9.9
204*.3
9.5
208! 6
9.3
8.8
9.6
9.3
10.4
10.5
1982
January
February
March
r3.5
r20L8
April
May
June
r210.*5
-0.4
0.3
July
August
September
October
November
December
See note on page 80.
Graphs of these series are shown on pages 48 and 49.
x
Changes are centered within the spans: 1-month changes are placed on the 2d month, 6-month changes are placed on the 4th month, and
1-quarter changes are placed on the 1st month of the 2d quarter.
MAY 1982
OTHER IMPORTANT ECONOMIC MEASURES
B I
PRICES, WAGES, AND PRODUCTIVITY—Continued
HH PRICE MOVEMENTS-Continued
Producer prices, industrial commodities
Producer prices, all commodities
Year
and
month
330. Index <u)
(1967 = 100)
330c. Change
over 1-month
spans ' (u)
(Percent)
330c. Change
over 6-month
spans ' (u)
(Ann. rate,
percent)
335. Index <u)
(1967 = 100)
335c. Change
over 1-month
spans ' ©
(Percent)
Producer prices, crude materials
335c. Change
over 6-month
spans ' ©
(Ann. rate,
percent)
331. Index
(1967 = 100)
331 c. Change
over 1-month
spans '
(Percent)
331c. Change
over 6-month
spans '
(Ann. rate,
percent)
1980
January
February
March
254.9
260.2
261.9
2.1
2.1
0.7
14.5
14.2
13.1
260.6
265.9
268.6
3.0
2.0
1.0
18.7
17.7
16.8
289.0
295.1
289.0
April
May
June
262.8
264.2
265.6
0.3
0.5
0.5
12.5
10.7
1.0
0.2
0.6
12.3
9.9
271.3
271.9
273.5
9.5
7.7
283.2
287.5
289.2
July
August
September
270.4
273.8
274.6
1.8
1.3
0.3
11.7
11.6
11.8
276.2
278.2
278.8
1.0
0.7
0.2
8.0
8.6
9.8
October
November
December
277.8
279.1
280.8
1.2
0.5
0.6
10.9
10.3
11.8
282.0
283.4
286.6
1.1
0.5
1.1
January
February
March
284.8
287.6
290.3
1.4
1.0
0.9
11.5
11.0
10.2
291.5
295.7
299.6
April
May
June
293.4
294.1
294.8
1.1
0.2
0.2
8.2
6.2
3.8
July
August
September
296.2
296.4
295.7
0.5
0.1
October
November
December
296.1
295.5
r295.8
0.5
0.9
0.1
0.0
2.1
-2.1
1.5
0.6
10.6
16.3
22.8
304.0
318.2
320.3
5.1
4.7
0.7
32.1
31.0
26.8
11.4
13.0
15.5
325.5
329.0
325.7
1.6
1.1
17.2
1.7
1.4
1.3
15.8
15.6
13.3
329.1
332.1
328.4
303.5
304.7
305.1
1.3
0.4
0.1
10.3
333.2
333.7
336.9
1.5
0.2
1.0
1.8
1.0
0.7
306.2
307.2
307.4
0.4
0.3
0.1
r3.2
337.6
334.4
328.4
-0.9
-1.8
1.4
1.4
1.5
309.0
309.3
r310.0
0.5
0.1
322.7
318.1
r313.6
-1.7
-1.4
-1.4
-10.6
-10.0
rO.2
3.6
2.8
2.4
1.2
311.7
311.4
311.0
0.5
5.8
319.2
317.3
314.6
rl.8
-0.6
-0.9
-1.5
-0.1
-0.1
309.9
-0.4
320.2
-2.0
8.9
5.1
-1.0
1981
-0.2
0.1
-0.2
0.1
7.9
5.3
3.7
3.0
4.8
2.9
7.0
1.0
0.9
-1.1
5.2
1.4
0.0
0.2
-6.2
-9.1
r-13.4
-8.2
1982
January
February
March
298.2
298.5
297.9
April
May
June
297.9
0.8
0.1
-0.2
0.0
1.8
July
August
September
October
November
December
See note on (
Graphs of these series are shown on page 48.
Changes are centered within the spans: 1-month changes are placed on the 2d month and 6-month changes are placed on the 4th month.
KCII
MAY 1982
85
OTHER IMPORTANT ECONOMIC MEASURES
PRICES, WAGES, AND PRODUCTIVITY—Continued
JM PRICE MOVEMENTS-Continued
Year
and
month
332. Index
(1967 = 100)
332c. Change
over 1-month
spans 1
(Percent)
Producer prices, finished consumer goods
Producer prices, capital equipment
Producer prices, intermediate materials
332c. Change
over 6-month
spans '
(Ann. rate,
percent)
333. Index
(1967 = 100)
333c. Change
over 1-month
spans l
(Percent)
333c. Change
over 6-month
spans '
(Ann. rate,
percent)
334. Index
(1967 = 100)
334c. Change
over 1-month
spans l
(Percent)
334c. Change
over 6-month
spans '
(Ann. rate,
percent)
1980
January
February
March
267.1
272.0
273.9
2.5
1.8
0.7
15.0
14.3
14.2
228.2
230.0
232.1
1.4
0.8
0.9
13.1
12.2
11.9
235.9
239.4
242.1
1.7
1.5
1.1
15.6
12.9
13.1
April
May
June
274.2
276.0
278.5
0.1
0.7
0.9
10.8
9.0
8.5
235.6
236.3
238.1
1.5
0.3
0.8
11.4
11.9
10.5
243.5
244.4
246.6
0.6
0.4
0.9
13.2
12.9
10.8
July
August
September
281.1
284.0
285.3
0.9
1.0
0.5
10.2
10.7
11.0
240.9
243.3
244.0
1.2
1.0
0.3
11.0
11.6
11.0
251.0
254.4
254.8
1.8
1.4
0.2
11.3
12.0
10.8
October
November
December
287.9
290.4
293.4
0.9
0.9
1.0
11.7
10.4
11.7
248.2
249.6
250.9
1.7
0.6
0.5
11.0
10.7
11.7
256.9
258.7
259.6
0.8
0.7
0.3
9.5
8.2
January
February
March
297.1
298.4
301.5
1.3
0.4
1.0
11.6
10.8
9.4
253.8
256.0
257.9
1.2
0.9
0.7
10.2
10.8
262.7
264.6
267.8
1.2
0.7
1.2
April
May
June
304.1
305.7
306.9
0.9
0.5
0.4
7.5
7.7
5.6
260.2
262.0
264.1
0.9
0.7
0.8
9.5
9.1
7.8
270.4
270.6
272.0
1.0
0.1
0.5
7.9
6.7
4.6
July
August
September
308.1
309.7
309.8
0.4
0.5
0.0
3.7
3.2
265.6
267.4
267.8
0.6
0.7
0.1
8.1
8.2
7.7
272.9
273.3
273.9
0.3
0.1
0.2
3.6
4.3
October
November
December
309.7
310.6
r311.1
0.0
0.3
0.2
270.5
272.5
274.1
1.0
0.7
0.6
7.4
5.1
5.8
275.2
276.3
r276.9
0.5
0.4
rO.2
0.4
4.5
0.5
277.9
277.7
276.8
rO.4
-0.1
-0.3
0.4
276.8
10.5
1981
r2.8
2.8
1.1
0.4
9.9
10.8
9.4
9.8
r3.6
3.7
3.2
2.1
1982
January
February
March
312.4
311.4
310.4
-0,3
-0.3
275.2
274.1
275.5
April
May
June
308.5
-0.6
276.5
0.4
-0.8
-0.4
0.0
July
August
September
October
November
December
See note on (
Graphs of these series are shown on page 48.
1
Changes are centered within the spans: 1-month changes are placed on the 2d month and 6-month changes are placed on the 4th month.
MAY 1982
1.2
OTHER IMPORTANT ECONOMIC MEASURES
B I
PRICES, WAGES, AND PRODUCTIVITY—Continued
^Q WAGES AND PRODUCTIVITY
Average hourly compensation, all employees,
nonfarm business sector
Average hourly earnings, production workers, private nonfarm economy, adjusted '
Year
and
month
340. Index
(1977 = 100)
340c. Change
over 1-month
spans 2
(Percent)
Current-dollar compensation
Real earnings
Current-dollar earnings
340c. Change
over 6-month
spans 2
(Ann. rate,
percent)
341. Index
(1977 = 100)
341c. Change
over 1-month
spans 2
(Percent)
341 c. Change
over 6-month
spans 2
(Ann. rate,
percent)
345. Index
(1977 = 100)
345c. Change
over 1-quarter
spans 2
345c. Change
over 4-quarter
spans 2
(Ann. rate,
percent)
(Ann. rate,
percent)
1980
January
February
March
121.7
122.8
124.1
0.3
0.9
1.1
April
May
June
124.7
125.8
127.0
0.5
0.9
1.0
July
August
September
127.6
128.7
129.4
0.5
0.9
0.5
October
November
December
130.6
132.1
132.6
0.9
1.1
0.4
January
February
March
133.8
135.0
135.8
0.9
0.9
0.6
9.5
8.6
8.9
92.8
92.8
92.8
0.1
0.0
0.0
-0.3
-0.5
April
May
June
136.7
137.7
138.4
0.7
0.7
0.5
7.9
8.7
8.5
93.1
93.0
92.9
0.3
-0.1
-0.1
-1.5
-0.3
-1.5
142 .'6
July
August
September
139.0
140.7
141.5
0.4
1.2
0.6
7.7
8.2
7.6
92.2
92.6
92.1
-0.8
-2.4
-1.2
-1.4
145 .*4
October
November
December
141.9
143.2
143.5
0.3
0.9
0.2
9.0
92.0
92.5
92.3
-0.1
145.1
1.1
0.1
9.6
9.4
9.5
10.0
9.9
8.7
9.8
10.4
9.1
9.9
9.9
10.2
94.4
94.0
93.8
-1.2
-0.4
-0.2
-5.0
-4.7
-4.3
125*7
93.3
93.4
93.4
-0.5
-1.3
-0.3
-0.9
129.1
-0.2
-0.3
-1.5
132! 6
-2.0
-2.4
-1.1
135'.1
93.8
93.9
93.4
93.2
93.3
92.7
0.1
0.0
0.4
0.1
-0.5
-0.2
0.1
-0.6
10.0
9*9
11.5
9.1
io!i
ib*. 5
9.7
10*6
1981
r6.6
r6.1
0.4
-0.5
0.5
-0.2
11.6
138.9
16'. i
0.6
2.0
0.6
3.1
9.5
9.3
9.7
p8.5
6.4
147*6
1982
January
February
March
April
May
June
r!45.3
r!45.7
P146.4
0.9
-0.2
rO.3
93.1
92.9
93.5
pO.5
p93.8
pO.3
p6.4
P 3.5
p8.4
pl50.*6
0.6
July
August
September
October
November
December
See note on page 80.
Graphs of these series are shown on pages 49 and 50.
1
Adjusted for overtime (in manufacturing only) and interindustry employment shifts.
2
Changes are centered within the spans: 1-month changes are placed on the 2d month, 6-month changes are placed on the 4th month, 1-quarter changes are placed on the 1st month of the 2d quarter, and 4-quarter changes are placed on the middle month of the 3d quarter.
KCII MAY 1982
87
OTHER IMPORTANT ECONOMIC MEASURES
B I
PRICES, WAGES, AND PRODUCTIVITY—Continued
Rl WAGES AND PRODUCTIVITY-Continued
Negotiated wage and benefit
decisions, all ndustries (u)
Average hourly compensation, all employees,
nonfarm business sector— Continued
Year
and
month
348. First year
average changes
Real compensation
346. Index
(1977 = 100)
346c. Change
over 1-quarter
spansl
346c. Change
over 4-quarter
spans l
(Ann. rate,
percent)
(Ann. rate,
percent)
(Ann. rate,
percent)
349. Average
changes over
life of
contract
(Ann. rate,
percent)
Output per hour, all persons, private
business sector
370. Index
(1977 = 100)
358. Index of
output per hour,
all persons,
nonfarm
business sector
370c. Change
over 1-quarter
spans '
370c. Change
over 4-quarter
spans l
(Ann. rate,
percent)
(Ann. rate,
percent)
(1977 = 100)
b.'o
98!9
o'.o
98!2
o.'s
99.'6
2.1
99^6
i!s
100.0
o.'o
100.4
1980
January
February
March
96.2
April
May
June
9S'.8
July
August
September
96." 1
October
November
December
95!i
-5.6
-2.*6
8.8
.. .
6.7
1.6
99.5
...
10.2
-1.5
1.2
...
7.4
-2.2
-1.8
99^1
11.4
7.2
1.3
99.'i
-0.7
...
...
8.5
-2.8
6.1
6.2
-1.1
99!i
...
1981
...
January
February
March
95.5
April
May
June
96.'6
July
August
September
95.6
October
November
December
95.2
0.2
-6!6
...
2.3
7.7
...
11.6
pi.'o
4.7
106!3
-6*2
-1.9
7.2
.. .
10.5
3.5
10.8
8.1
101 .*2
iocK9
-1.1
...
...
-1.3
11.0
5.8
pi!i
99.*9
r-6.6
98.2
99.2
1982
January
February
March
p5.0
p96.4
pi. 8
pl.l
p-1.0
p98*.9
p98.*3
April
May
June
July
August
September
October
November
December
See note on page 80.
Graphs of these series are shown on pages 49 and 50.
Changes are centered within the spans: 1-quarter changes are placed on the 1st month of the 2d quarter and 4-quarter changes are placed
on the middle month of the 3d quarter.
MAY 1982
OTHER IMPORTANT ECONOMIC MEASURES
C
I
LABOR FORCE, EMPLOYMENT, AND UNEMPLOYMENT
Q CIVILIAN LABOR FORCE AND MAJOR COMPONENTS
Civilian labor force
Year
and
month
441. Total
442. Em-
ployed
(Thous.)
(Thous.)
Labor force participation rates
448. Num-
Number unemployed
451. Males
20 years
and over
452. Females
20 years
and over
(Percent)
(Percent)
(Percent)
453. Both
37. Total
sexes, 16-19
years of age
(Thous.)
444. Males
20 years
and over
445. Females
20 years
and over
(Thous.)
(Thous.)
446. Both
sexes, 16-19
years of age
(Thous.)
447. Fulltime
workers
ber employed
part-time
for economic
reasons
(Thous.)
(Thous.)
1980
January
February
March
106,493
106,548
106,321
99,833
99,913
99,607
79.6
79.7
79.4
51.3
51.2
51.1
57.6
57.1
57.0
6,660
6,635
6,714
2,722
2,682
2,826
2,370
2,383
2,351
1,568
1,570
1,537
5,276
5,241
5,397
3,567
3,539
3,531
April
May
June
106,482
107,022
106,809
99,112
98,963
98,785
79.4
79.7
79.3
51.3
51.3
51.3
55.9
57.3
56.8
7,370
8,059
8,024
3,276
3,630
3,644
2,578
2,640
2,653
1,516
1,789
1,727
5,987
6,568
6,666
3,943
4,397
4,172
July
August
September
107,221
107,159
107,232
98,891
98,920
99,208
79.4
79.4
79.3
51.4
51.5
51.3
57.4
55.7
56.5
8,330
8,239
8,024
3,772
3,731
3,756
2,739
2,751
2,588
1,819
1,757
1,680
6,908
6,833
6,732
4,243
4,315
4,312
October
November
December
107,437
107,600
107,531
99,328
99,534
99,632
79.3
79.3
79.2
51.4
51.5
51.4
56.6
56.2
56.1
8,109
8,066
7,899
3,607
3,595
3,476
2,784
2,767
2,783
1,718
1,704
1,640
6,709
6,747
6,617
4,236
4,222
4,191
January
February
March
107,923
108,034
108,364
99,901
100,069
100,406
79.1
79.0
79.2
51.7
51.8
52.0
56.6
56.5
56.2
8,022
7,965
7,958
3,461
3,433
3,410
2,804
2,763
2,787
1,757
1,769
1,761
6,611
6,537
6,553
4,451
4,227
4,290
April
May
June
108,777
109,293
108,434
100,878
101,045
100,430
79.2
79.6
78.9
52.1
52.4
52.3
57.0
56.6
53.9
7,899
8,248
8,004
3,337
3,595
3,497
2,796
2,871
2,824
1,766
1,782
1,683
6,442
6,631
6,577
4,200
4,264
4,033
July
August
September
108,688
108,818
108,494
100,864
100,840
100,258
78.9
78.9
78.8
52.3
52.2
51.8
54.5
55.1
55.1
7,824
7,978
8,236
3,298
3,459
3,569
2,872
2,825
2,918
1,654
1,694
1,749
6,365
6,400
6,757
4,374
4,350
4,656
October
November
December
109,012
109,272
109,184
100,343
100,172
99,613
78.8
78.8
79.0
52.3
52.4
52.2
54.8
55.0
54.0
8,669
9,100
9,571
3,851
4,105
4,543
3,017
3,109
3,175
1,801
1,886
1,853
7,204
7,545
8,127
5,009
5,026
5,288
January
February
March
108,879
109,165
109,346
99,581
99,590
99,492
78.5
78.5
78.5
52.1
52.2
52.4
54.2
54.6
53.8
9,298
9,575
9,854
4,322
4,351
4,548
3,104
3,286
3,435
1,872
1,938
1,870
7,805
7,897
8 5 355
5,071
5,563
5,717
April
May
June
109,648
99,340
78.7
52.4
54.3
10,307
4,742
3,586
1,979
8,601
5,834
1981
1982
July
August
September
October
November
December
See note on page 80.
Graphs of these series are shown on page 51.
MAY
1982
OTHER IMPORTANT ECONOMIC MEASURES
GOVERNMENT ACTIVITIES
Mj DEFENSE INDICATORS
QH RECEIPTS AND EXPENDITURES
Federal Government
Year
and
month
l
State and local governments *
Advance measures of defense activity
501. Receipts
502. Expenditures
510. Surplus
or deficit
511. Receipts
512. Expenditures
(Ann. rate,
bil. dol.)
(Ann. rate,
bil. dol.)
(Ann. rate,
bil. dol.)
(Ann. rate,
bil. dol.)
(Ann. rate,
bil. dol.)
(Ann. rate,
bil. dol.)
January
February
March
-36!s
528!i
564! 7
2&!e
372.1
345 '.4
April
May
June
-66\5
52CL9
587! 3
23*.9
373^9
July
August
September
-74! 2
540.*8
615!6
28.6
October
November
December
-67.*9
573.*2
641.1
January
February
March
-46 '.6
617.4
April
May
June
-4?!2
July
August
September
-55!7
517. Defense
Department
gross obligations incurred
525. Defense
Department
military prime
contract
awards
543. Defense
Department
gross unpaid
obligations
outstanding
548. Value of
manufacturers'
new orders,
defense
products
(Mil. dol.)
(Mil. dol.)
(Mil. dol.)
(Mil. dol.)
12,578
12,399
13,806
5,491
6,839
5,887
71,178
71,665
73,179
3,773
4,224
5,152
35o!6
13,722
13,718
12,809
6,944
6,901
6,450
73,912
74,252
74,592
4,474
4,044
4,546
386! 8
358.'2
12,677
13,728
13,552
6,211
7,188
6,893
74,870
75,133
76,745
6,815
4,915
5,669
37.'i
403.4
366 '.3
13,014
12,876
15,825
5,639
6,773
9,835
77,777
78,183
79,936
3,986
3,357
4,991
664.0
36^9
411.7
374.' 8
14,808
15,741
15,560
7,155
7,514
7,590
82,087
83,608
84,883
4,530
6,251
4,848
621 !o
668 ! 2
36L1
413.6
377!5
15,210
15,699
15,156
8,505
7,967
7,041
84,994
85,165
86,126
3,976
5,383
4,956
638. * 3
694 .'6
37.8
419.*6
381 !s
16,836
17,374
16,584
8,845
9,504
9,325
87,968
89,857
91,896
5,482
5,759
6,554
-100."6
627.*2
727.2
35 .'9
42 3. '7
387.8
12,892
15,674
19,805
4,466
9,817
9,049
91,354
92,575
93,827
3,830
4,850
6,034
p-126!4
p607!5
r733.9
p36!i
p429'.0
r392.*6
19,361
20,608
p!8,869
9,756
13,761
9,870
98,818
102,677
105,418
6,696
8,669
r7,924
(NA)
p5,811
500. Surplus
or deficit
1980
1981
October
November
December
1982
January
February
March
April
May
June
(NA)
(NA)
July
August
September
October
November
December
See note on page 80.
Graphs of these series are shown on pages 52 and 53.
1
Based on national income and product accounts.
90
MAY 1982
OTHER IMPORTANT ECONOMIC MEASURES
GOVERNMENT ACTIVITIES—Continued
Q 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. dot.)
588. Manufacturers' shipments, defense
products
570. Employment in defense products
industries
(Mil.dol.)
(Thous.)
Defense Department
personnel
577. Military,
active duty ®
(Thous.)
578. Civilian,
direct hire
employment (u)
(Thous.)
564. Federal
purchases of
goods and
services
(Ann. rate,
bil. dot.)
565. Federal
purchases as
a percent of
GNP
(Percent)
1980
January
February
March
97.2
97.6
97.4
8,762
8,819
9,246
54,323
55,318
57,151
10,900
10,652
11,358
2,983
3,229
3,319
1,346
1,352
1,357
2,029
2,032
2,033
964
965
966
125 16
4*.9
April
May
June
97.6
97.4
97.7
9,415
9,576
9,749
58,345
59,024
60,207
11,188
11,061
11,537
3,280
3,366
3,363
1,359
1,363
1,359
2,028
2,031
2,034
969
975
988
128.7
5^6
July
August
September
97.9
97.7
98.1
10,034
10,337
10,447
63,573
65,097
67,113
11,193
11,425
11,993
3,450
3,391
3,653
1,364
1,369
1,372
2,044
2,049
2,051
990
973
971
13i!i
s!6
October
November
December
99.2
100.3
101.0
10,698
10,815
11,021
67,445
67,046
68,355
12,193
12,224
11,992
3,653
3,757
3,683
1,376
1,379
1,380
2,053
2,056
2,051
971
972
973
141.6
5.2
January
February
March
100.9
100.5
100.7
11,418
11,628
11,984
69,321
71,711
72,398
12,639
12,932
12,619
3,564
3,861
4,161
1,383
1,379
1,380
2,056
2,061
2,062
973
972
974
145!2
5!l
April
May
June
101.5
102.0
101.7
12,165
12,273
12,700
72,410
73,852
74,696
12,833
13,433
13,264
3,964
3,941
4,112
1,383
1,383
1,385
2,060
2,064
2,070
980
990
1,008
148 .*2
sli
July
August
September
102.6
102.8
103.0
12,681
12,689
13,019
75,952
77,294
79,632
13,889
13,809
14,014
4,229
4,419
4,214
1,384
1,387
1,387
2,082
2,084
2,083
1,023
1,017
984
154!l
5^2
October
November
December
104.5
105.3
107.0
13,068
13,541
13,642
79,127
79,473
80,880
14,227
14,548
15,298
4,337
4,502
4,627
1,381
1,375
1,379
2,090
2,097
2,093
998
1,006
1,009
169'.7
5.*7
January
February
March
r!05.2
107.6
r!08.5
13,805
14,071
14,434
83,413
87,464
r90,493
14,152
14,689
15,075
4,161
4,618
r4,895
1,375
rl,368
pi, 366
2,104
2,109
2,107
1,008
1,013
1,018
rl70.*2
5^7
April
May
June
p!08.8
(NA)
p91,697
p!5,618
p4,608
p2,106
pi, 022
1981
1982
(NA)
July
August
September
October
November
December
See note on page 80.
Graphs of these series are shown on pages 54 and 55.
MAY 1982
91
OTHER IMPORTANT ECONOMIC MEASURES
U.S. INTERNATIONAL TRANSACTIONS
Qj MERCHANDISE TRADE
Year
and
month
602. Exports, excluding
military aid shipments,
total
(Mil. dol.)
604. Exports of agricultural products
606. Exports of nonelectrical machinery
(Mil. dol.)
(Mil. dol.)
612. General imports,
total
614. Imports of
petroleum and
petroleum products
(Mil. dol.)
(Mil. dol.)
616. Imports of
automobiles and parts
(Mil. dol.)
1980
January
February
March
17,419
16,984
18,265
3,442
3,484
3,325
3,297
3,454
3,423
21,181
21,834
24,866
5,614
7,741
6,991
1,899
2,035
1,960
April
May
June
18,567
17,647
18,440
3,329
3,326
3,085
3,571
3,620
3,943
19,831
20,658
20,427
5,185
7,191
6,611
1,710
1,999
1,843
July
August
September
18,267
19,086
18,828
3,286
3,557
3,596
3,985
4,230
4,027
19,189
19,719
19,934
5,153
6,018
4,982
2,103
2,139
2,270
October
November
December
19,217
18,715
19,251
3,485
3,464
3,838
4,117
3,968
3,819
20,327
19,856
21,427
5,876
6,051
6,254
2,189
2,314
1,897
January
February
March
18,902
19,788
21,278
4,295
3,977
4,201
4,058
4,155
4,352
22,616
21,916
21,029
7,359
8,018
5,992
2,264
1,742
2,125
April
May
June
19,786
18,899
19,750
3,604
3,708
3,256
4,311
4,160
4,388
22,249
21,232
22,005
6,919
6,329
6,521
2,042
2,299
2,257
July
August
September
19,289
19,031
19,551
3,089
3,202
3,563
4,567
6,207
4,559
20,114
23,242
21,274
5,400
6,335
5,709
2,108
2,635
1,943
October
November
December
19,163
19,153
18,885
3,735
3,442
3,220
4,338
4,366
4,005
23,077
22,508
19,746
6,123
6,483
4,636
2,464
2,239
2,164
18,737
18,704
18,602
3,258
3,590
3,225
4,346
4,054
3,997
22,829
19,090
20,349
6,810
4,396
4,290
2,389
2,135
2,596
(NA)
(NA)
(NA)
(NA)
(NA)
(NA)
1981
1982
January
February
March
April
May
June
July
August
September
October
November
December
See note on page 80.
Graphs of these series are shown on page 56.
92
MAY 1982
OTHER IMPORTANT ECONOMIC MEASURES
E
U.S. INTERNATIONAL TRANSACTIONS—Continued
Qj GOODS AND SERVICES MOVEMENTS (EXCLUDING TRANSFERS UNDER MILITARY GRANTS)
Merchandise, adjusted!
Goods and services
Year
and
month
668. Exports
667. Balance
(Mil.dol.)
(Mil.dol.)
669. Imports
(Mil.dol.)
622. Balance
(Mil.dol.)
618. Exports
(Mil.dol.)
Income on investments
620. Imports
(Mil. dol.)
651. U.S. investments abroad
(Mil.dol.)
652. Foreign
investments in
the United
States
(Mil.dol.)
1980
January
February
March
85,764
85,981
-10,126
54,898
65,024
20,465
10,629
787
83,6i7
82,830
-6,744
55,667
62,411
16,860
10,342
July
August
September
6,478
86,655
80,177
-2,902
56,252
59,154
18,850
10,697
October
November
December
3,734
88,636
84,902
-5,570
57,149
62,719
19,764
11,507
January
February
March
4,861
94,341
89,480
r-4,276
r60,717
r64,993
21,581
12,498
April
May
June
2,730
94,992
92,262
r-6,597
r60,234
r66,831
22,413
13,649
July
August
September
3,963
94,046
90,083
r-7,853
r57,687
r65,540
23,361
14,043
October
November
December
pi, 786
p92,6i7
p90,83i
r-9,149
r57,604
r66,753
p22,762
p!3,iii
p-5,945
p55,809
p61,754
-217
April
May
June
1981
1982
January
February
March
(NA)
(NA)
(NA)
(NA)
(NA)
April
May
June
July
August
September
October
November
December
See note on page 80.
Graphs of these series are shown on pace 57.
1
Balance of payments basis: Excludes transfers under military grants and Department of Defense sales contracts (exports) and Department of
Defense purchases (imports).
MAY 1982
93
OTHER IMPORTANT ECONOMIC MEASURES
INTERNATIONAL COMPARISONS
Qj INDUSTRIAL PRODUCTION
Year
and
month
47. United States,
index of industrial production
(1967 = 100)
721. OECD >
European countries, index of
industrial
production
728. Japan,
index of industrial production
725. West
Germany, index
of industrial
production
726. France,
index of industrial production
722. United
Kingdom, index
of industrial
production
(1967 = 100)
(1967 = 100)
(1967 = 100)
(1967 = 100)
(1967 = 100)
727. Italy, index
of industrial
production
(1967 = 100)
723. Canada,
index of industrial production
(1967 = 100)
1980
January
February
March
153.0
152.8
152.1
163
163
163
230.7
241.0
235.0
164
167
164
166
167
166
130
128
125
168.9
176.1
174.6
162.9
161.9
164.8
April
May
June
148.2
143.8
141.4
163
158
159
238.2
235.7
234.4
164
161
160
167
160
160
124
124
124
176.1
162.3
167.4
160.8
158.4
158.1
July
August
September
140.3
142.2
144.4
161
154
155
234.5
225.3
233.4
161
157
157
166
166
156
123
120
118
165.2
141.5
160.8
157.5
158.8
160.9
October
November
December
146.6
149.2
150.4
156
156
156
235.7
232.6
236.4
160
157
156
159
157
163
118
117
117
163.2
169.5
159.4
162.0
162.7
163.1
January
February
March
151.4
151.8
152.1
154
159
156
238.3
239.8
237.9
156
164
160
156
159
157
116
117
117
158.6
170.3
169.3
160.7
163.8
166.2
April
May
June
151.9
152.7
152.9
156
156
155
239.0
234.5
240.3
160
160
156
156
159
160
117
116
117
168.4
158.0
159.8
166.2
168.4
169.8
July
August
September
153.9
153.6
151.6
156
152
156
243.1
236.0
245.1
157
157
160
157
157
160
117
117
118
164.2
137.2
164.1
165.9
163.0
160.6
October
November
December
149.1
146.3
143.4
r!58
158
156
248.8
248.4
246.4
160
157
156
160
160
163
121
118
117
158.9
170.2
160.2
158.3
155.6
r!53.6
January
February
March
T140.7
r!42.7
r!41.5
156
p!59
(NA)
246.1
p246.4
(NA)
160
p!60
(NA)
r!56
p!56
(NA)
rl!7
pl!8
(NA)
r!60.9
p!73.6
(NA)
r!52.0
r!51.6
p!48.9
April
May
June
P140.7
1981
1982
(NA)
July
August
September
October
November
December
See note on [ _ _ 0
Graphs of these series are shown on page 58.
Organization for Economic Cooperation and Development.
94
MAY 1982
OTHER IMPORTANT ECONOMIC MEASURES
INTERNATIONAL COMPARISONS—Continued
Q CONSUMER PRICES
Japan
United States
Year
and
month
320. Index <g)
(1967 = 100)
320c. Change
over 6-month
spans '
(Ann. rate,
percent)
738. Index ®
West Germany
738c. Change
over 6-month
spans '
735. Index ®
United Kingdom
France
735c. Change
over 6-month
spans '
736. Index <u)
736c. Change
over 6-month
spans 1
732. Index <g)
732c. Change
over 6-month
spans 1
(1967-100)
(Ann. rate,
percent)
(1967 = 100)
(Ann. rate,
percent)
(1967 = 100)
(Ann. rate,
percent)
(1967 = 100)
(Ann. rate,
percent)
1980
January
February
March
233.2
236.4
239.8
15.5
15.0
14.5
271.3
273.3
275.0
9.9
9.6
9.4
171.0
172.8
173.8
5.6
5.6
5.5
277.2
280.2
283.4
14.8
14.5
14.1
394.1
399.7
405.1
20.2
19.8
19.5
April
May
June
242.5
244.9
247.6
11.6
10.4
9.6
280.1
282.6
284.0
8.5
7.6
8.0
174.9
175.6
176.5
6.4
5.5
4.9
286.7
289.3
291.1
12.7
12.5
12.1
419.0
422.8
426.8
17.2
14.4
13.3
July
August
September
247.8
249.4
251.7
10.0
10.3
10.3
284.0
283.2
288.3
6.1
7.2
5.5
176.8
177.0
177.0
4.6
5.0
5.4
295.5
298.4
301.0
12.2
12.6
13.2
430.4
431.3
434.1
10.9
11.3
11.1
October
November
December
253.9
256.2
258.4
11.8
12.4
11.4
288.8
289.4
288.3
6.2
5.3
4.6
177.3
178.3
179.4
5.4
5.4
6.3
304.3
306.4
309.1
12.9
12.7
12.6
436.8
440.3
442.7
9.1
10.6
12.0
January
February
March
260.5
263.2
265.1
10.0
9.3
8.8
291.1
290.8
292.2
4.4
3.1
3.8
180.9
182.3
183.5
6.6
6.2
5.7
312.7
315.6
318.8
13.2
13.0
13.0
445.5
449.5
456.2
13.0
12.1
11.6
April
May
June
266.8
269.0
271.3
9.6
9.3
10.4
294.5
297.0
297.3
2.6
2.9
3.2
184.7
185.4
186.3
6.3
6.7
6.9
323.1
326.0
329.2
13.8
14.3
15.3
469.4
472.4
475.2
12.5
12.1
10.7
July
August
September
274.4
276.5
279.3
10.5
9.8
9.1
296.4
294.7
299.5
3.9
4.1
4.2
187.1
187.7
188.6
6.9
7.1
6.9
334.9
339.0
342.9
14.9
15.7
15.1
477.3
480.8
483.5
10.4
11.8
12.5
October
November
December
279.9
280.7
281.5
7.2
6.0
3.2
300.7
299.8
299.8
4.0
3.3
2.4
189.2
190.1
190.7
6.3
4.8
3.5
347.1
350.3
352.4
13.9
13.6
13.0
487.9
493.0
496.1
11.5
9.9
10.0
January
February
March
282.5
283.4
283.1
2.8
300.7
299.8
300.4
(NA)
192.3
192.8
193.1
3.0
356.0
359.6
363.8
(NA)
499.0
499.1
503.5
(NA)
April
May
June
284.3
1981
1982
(NA)
194.0
(NA)
(NA)
July
August
September
October
November
December
See note on page 80.
Graphs of these series are shown on page 59.
1
Changes over 6-month spans are centered on the 4th month.
BCII MAY 1982
95
OTHER IMPORTANT ECONOMIC MEASURES
INTERNATIONAL COMPARISONS—Continued
Qj STOCK PRICES
Q CONSUMER PRICES-Continued
Year
and
month
19. United
States, index
of stock
prices, 500
common
stocks ©
748. Japan,
index of
stock
prices ©
745. West
Germany,
index of
stock
prices ©
746. France,
index of
stock
prices ©
742. United
Kingdom,
index of
stock
prices ©
747. Italy,
index of
stock
prices ©
743. Canada,
index of
stock
prices ©
(Ann. rate,
percent)
(1967 = 100)
(1967 = 100)
(1967 = 100)
(1967 = 100)
(1967 = 100)
(1967 = 100)
(1967 = 100)
Italy
Canada
737. Index © 737c. Change
over 6-month
spans l
733. Index ® 733c. Change
over 6-month
spans 1
(1967 = 100)
(Ann. rate,
percent)
(1967-100)
1980
January
February
March
367.9
374.3
378.2
22.3
22.5
19.9
231.3
233.3
235.8
9.9
9.7
9.9
120.6
125.5
113.9
420.1
425.5
413.0
117.2
123.3
118.1
203.8
207.4
185.4
224.3
239.4
231.6
59.8
61.1
61.1
224.7
256.3
203.2
April
May
June
384.3
388.2
391.7
18.9
19.3
20.3
237.2
240.0
242.7
10.4
11.2
11.7
112.0
117.1
124.6
417.6
422.9
423.8
116.5
118.8
120.6
189.0
201.1
201.4
228.1
230.3
240.7
61.0
61.5
64.8
212.8
216.4
227.5
July
August
September
398.7
403.5
411.6
20.0
21.4
22.7
244.5
246.8
249.0
12.2
12.5
12.4
130.4
134.3
137.6
424.9
429.1
437.6
121.2
121.7
120.0
198.9
199.9
203.0
255.9
256.7
262.6
66.0
74.4
82.7
240.0
232.3
233.5
October
November
December
418.5
427.3
432.5
20.7
20.4
20.3
251.2
254.3
255.8
13.6
13.1
13.2
141.7
147.6
145.2
447.5
447.8
443.5
120.6
117.2
116.3
218.0
215.2
206.6
267.4
277.5
267.6
93.5
99.2
96.0
223.3
235.2
219.9
January
February
March
440.7
449.1
455.4
20.1
20.1
19.3
259.1
261.7
265.2
13.1
12.2
13.2
144.6
139.7
144.9
457.9
458.2
467.3
115.3
114.0
116.3
191.1
201.1
209.4
259.0
269.0
273.2
110.0
122.1
125.9
223.7
218.6
233.9
April
May
June
461.3
468.7
473.9
18.9
18.2
16.8
267.2
269.6
273.8
12.3
12.3
11.9
146.2
143.3
143.9
494.6
502.8
515.2
122.7
122.1
126.1
197.7
162.5
152.3
293.2
295.6
289.0
132.4
135.9
123.5
232.3
245.7
242.9
July
August
September
477.7
481.0
487.7
17.7
16.8
17.0
276.2
278.2
280.2
12.2
12.2
11.0
140.5
141.0
128.7
534.4
540.7
511.3
127.5
122.5
122.5
168.9
177.4
176.5
284.8
298.6
278.9
99.1
112.0
99.1
232.3
231.6
192.3
October
November
December
497.5
506.0
511.1
15.8
15.3
15.6
283.0
285.4
286.7
10.6
10.9
11.2
130.3
133.7
134.7
493.8
505.6
512.7
118.8
118.0
117.7
163.9
169.2
170.7
259.5
278.0
284.2
91.2
93.8
96.9
190.4
208.9
201.2
January
February
March
517.7
524.4
529.1
13.8
288.7
10.5
127.6
124.6
120.6
518.9
516.9
486.2
116.8
118.4
120.1
185.7
193.1
rp!83.3
291.1
300.1
298.8
95.0
98.8
104.2
185.3
176.7
173.1
April
May
June
533.9
126.5
p!27.5
484.5
p503.3
120.6
pl!8.2
rp!84.5
p!92.8
303.1
p315.8
rp98.0
p94.2
rp!72.6
p!67.6
1981
1982
292.1
295.8
297.5
July
August
September
October
November
December
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.
96
MAY 1982
APPENDIXES
B.
Current Adjustment Factors
5. Average weekly initial claims, State
unemployment insurance
13. New business incorporations
1
Aug.
115.5
87.2
78.0
106.4
94.1
99.7 102.2
15. Profits (after 2 taxes) per dollar of sales,
manufacturing
33. Net change in mortgage debt1
3
1981
Sept. Oct.
July
85.9
98.3
Dec.
Jan.
Feb.
19 82
Mar. Apr.
May
June
97.3 122.9
144.2
108.4
90.8
93.0
83.2
93.4
88.1 102.3
98.5
90.0 112.1
104.2
Nov.
95.8
99.4
971 -1821
-2198
107.3
-769
-152
613
99 6
99 2
517. Defense Department
gross obligations
incurred1 .
92 9
81 9 124 9 139 2 101 4
90 4 107 7
525. Defense Department military prime
contract awards
84.4
79.4
95.0
543. Defense Department gross unpaid
obligations outstanding
96 9
94 7
98 0 101 6 101 6 101 7 102 8 101 4 100 7 101.3
570. Employment in defense products industries .
99.8
99.4
99.8
99.9
103.6
95.9
97.2
100 5
92.0
91.4
89.9
105.1
95 0
93 8
94.1 102 1
72. Commercial and industrial loans
outstandi ng
1
580. Defense Department net outlays . .
604. Exports of agricultural products
606 Exports of nonelectrical machinery
614. Imports of petroleum and products
1
1
616. Imports of automobiles and parts .
..
97.5
99 5
873
968
99 6 100 4 100 6 101 4 100 4
188.8
105.9 101.1
101 6 107 8 100 5
79 3
165
90 2
100.2
92.4
1570
99.9
99 3
88 0 102.0 101.0
88.2
86.8
72.5 111.8
96.0
80.7
100 9
98.4
99 6 100 0
99.9
91.4
99.8
100.0
97.4
96.9 106.4
102.2
96.4
104.6
99.9
97.5
114.8
102.4
96.5
93.9
91 3
94.5 113.5
102.5
105.7 105.5
108.5
93 1 104.2
95.5 103.8
97.2 102.7
-83
99.9
100.3
111.7
-93
100.2
100.4
109.7
97. Q 106.4
100.2
94 3 104 7 100 3 102 9 105.0
96 2 102 3 106 1 102 0
94.5 109.5 111.4
102.8
103.8
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.
97
C. Historical Data for Selected Series
Year
Jan.
Feb.
Mar.
Apr.
June
May
July
Sept.
Aug.
Oct.
Nov.
Dec.
1 Q
HQ
66. CONSUMER INSTALLMENT CREDIT
(MILLIONS OF DOLLARS)
1948...
9,359
1949...
1950. . . 12,157
15,270
1951...
1952. . . 15,901
20,537
1953...
23,762
1954...
24,779
1955...
1956...
32,783
1957...
1958. . .
1959. . . 35,177
1960...
40,859
44,282
1961...
1962...
45,261
1963...
50,468
57,358
1964...
1965. . . 65,148
73,149
1966...
1967. . . 78,193
82,290
1968...
91,491
1969...
1970. . .100,763
1971... 105,137
1972... 115,954
1973... 132,508
1974... 151,385
1975... 159,592
1976... 168,249
1977... 190,525
1978. . . 225,709
1979... 269,107
1980... 306,213
307,415
1981...
1982...
7
9,595
12,679
15,320
16,184
21,572
23,713
25,759
30,755
33,207
34,757
35,969
41,680
44,146
45,781
51,449
58,841
66,466
74,151
78,508
83,777
93,362
3 01,542
1 06,511
]18,289
1 36,462
3 53,128
3 59,557
J 71,271
3 96,569
2 32,462
2 76,677
:09,237
I 12,231
9,469
12,440
15,324
16,049
21,004
23,775
25,203
33,008
34,854
35,517
41,359
44,182
45,522
50,953
58,163
65,820
73,616
78,236
83,078
92,576
]01,174
J 05,831
]116,982
J 34,566
152,411
]159,916
J 69,893
]193,223
J.28,799
:'73,327
.508,583
309,260
7,987
9,805
12,952
15,272
16,356
21,912
23,680
26,246
31,027
33,439
34,681
36,360
42,189
43,998
46,299
52,058
59,392
67,351
74,593
78,569
84,538
94,380
101,705
107,157
119,805
138,246
154,266
159,471
173,167
199,695
236,295
280,486
307,482
314,953
8,357
8,202
10,092 10,294
13,279 13,668
15,248 15,226
16,833 17,399
22,298 22,546
23,687 23,719
26,771 27,248
33,628
34,561
36,846
42,577
44,035
46,708
52,535
60,164
68,196
74,988
78,785
85,287
95,450
102,064
107,914
121,105
139,999
155,505
159,425
174,884
202,559
240,458
283,652
304,835
316,524
95. RATIO, CONSUME R
1949...
1950. . .
1951...
1952. . .
1953...
1954...
1955...
1956...
1957...
1958...
1959...
1960...
1961...
1962...
1963...
1964...
1965...
1966...
1967...
1968...
1969...
1970...
1971...
1972...
1973...
1974...
1975. . .
1976...
1977...
1978...
1979...
1980...
1981.. .
1982. . .
4.50
5.62
6.26
6.09
7.27
8.27
8.32
9.32
9.56
9.90
9.42
10.28
10.89
10.49
11.02
11.87
12.49
12.91
12.75
12.54
12.64
12.86
12.51
12.74
13.10
13.54
13.20
12.57
13.06
13.91
14.58
4.57
5.67
6.21
6.06
7.39
8.25
8.42
9.38
9.54
9.86
9.45
10.40
10.81
10.48
11.18
11.98
3.2.61
1.2 . S ?
12.73
12.52
12.68
12.84
12.54
12.69
13.12
13.55
13.17
12.58
13.08
13.99
14.67
13.36
13.34
33,862
34,479
37,339
42,907
44,038
47,158
53,113
60,796
68,857
75,394
79,101
86,057
96,355
102,576
108,382
122,378
141,672
156,734
159,771
176,436
205,340
244,739
286,263
302,764
318,555
3.96
5.03
6.17
5.96
6.45
4.61
5.65
6.15
6.09
4.73
5.89
6.06
6.17
8.26
8.53
9.44
9.55
9.78
9.50
10.47
10.77
10.45
11.25
12.05
12.66
12.88
12.69
12.48
12.68
12.80
12.53
12.75
13.19
13.53
13.08
12.63
8.28
8.61
9.43
9.61
9.79
9.52
10.51
10.71
10.50
11.33
12.08
12.74
12.90
12.68
12.50
12.72
12.51
12.54
12.84
13.26
13.51
12.99
12.68
8.26
8.71
9.48
9.62
9.72
9.58
10.57
10.64
10.57
11.38
12.15
12.78
12.92
12.66
12.49
12.78
12.62
12.56
12.90
13.33
13.44
12.84
12.72
8.26
8.83
9.50
9.61
9.65
9.65
10.64
10.54
10.64
11.41
12.22
12.80
12.88
12.62
12.49
12.81
12.67
12.33
13.14
13.38
13.41
12.56
12.78
14.04
14.68
14.08
14.83
14.23
14.90
13.34
13.38
13.37
14.33
14.88
14.23
13.36
3.40
1.03
3.20
1.61
1.28
6.46
-0.71
4.39
4 .06
0.85
0.10
4.52
5.18
0.18
2.56
6.59
8.40
8.69
7.30
3.48
8.38
7.30
6.54
5.74
15.85
25.81
10.13
-0.92
16.00
31.09
32.60
50.57
31.62
14.47
3.14
1.32
3.40
0.65
1.78
5.60
0.16
5.09
4.57
2.70
-1.87
4.08
6.00
-1.20
3.13
5.82
9.66
8.06
5.60
0.52
9.46
13.02
4.93
8.33
12.34
24.70
12.31
3.89
19.73
32.38
37.08
50.64
28.44
22.14
END OF PERIOD
8,992
10,995
14,982
15,421
18,461
23,348
23,909
28,682
32,016
34,544
9,075
11,329
15,163
15,525
18,999
23,559
24,046
29,047
32,242
34,738
9,157
11,634
15,071
15,634
19,461
23,767
24,186
29,374
32,474
34,869
9,273
11,890
15,136
15,794
19,999
23,821
24,413
29,711
32,712
35,002
7,715
9,595
12,679
15,320
16,184
21,572
8,357
10,294
13,668
15,226
17,399
22,546
8,992
10,995
14,982
15,421
18,461
23,348
9,273
11,890
15,136
15,794
19,999
23,821
9,273
11,890
15,136
15,794
19,999
23,821
25,759
27,248
28,682
29,711
29,711
33,207
33,862
37,826
43,235
44,093
47,569
53,742
61,367
69,487
75,953
79,351
86,888
97,055
102,983
108,815
123,258
143,342
157,796
161,128
178,154
207,803
248,328
289,079
302,202
320,106
38,493
43,463
44,195
47,981
54,313
62,003
70,167
76,442
79,754
87,520
97,732
103,449
109,705
124,412
144,702
158,984
162,121
179,919
210,750
251,403
291,810
302,989
322,534
39,126
43,696
44,298
48,387
54,924
62,817
70,856
76,726
80,224
88,277
98,635
103,899
110,779
125,571
145,995
159,769
163,136
181,936
213,487
254,686
295,818
303,841
325,509
39,688
43,940
44,492
48,866
55,584
63,394
71,420
77,122
80,509
89,205
99,303
104,189
111,958
126,984
147,882
159,982
164,222
183,899
216,602
257,483
298,851
304,243
326,511
40,154
44,189
44,710
49,362
56,115
63,778
71,984
77,516
81,008
90,023
99,946
104,162
113,317
128,442
149,370
159,831
165,416
185,695
219,786
261,126
301,545
304,860
327,111
40,428
44,267
45,048
49,919
56,658
64,424
72,541
77,903
81,592
90,883
100,218
104,659
114,633
130,357
150,541
159,669
166,916
187,934
222,992
264,893
303,578
306,209
327,078
35,969
41,680
44,146
45,781
51 ,449
58,841
66,466
74,151
78,508
83,777
93,362
101,542
106,511
118,289
136,462
153,128
159,557
171,271
196,569
232,462
276,677
309,237
312,231
37, 339
42,907
44,038
47,158
53,113
60,796
68,857
75,394
79,101
86,057
96, 355
102,576
108,382
122,378
141,672
156,734
159,771
176,436
205,340
244,739
286,263
302,764
318,555
34,544
34,300
39,126
43,696
44,298
48,387
54,924
62,817
70,856
76,726
80,224
88,277
98,635
103,899
110,779
125,571
145,995
159,769
163,136
181,936
213,487
254,686
295,818
303,841
325,509
35,002
34,80C
40,428
44,267
45,048
49,919
56,658
64,424
72,541
77,903
81,592
90,883
100,218
104,659
114,633
130,357
150,541
159,669
166,916
187,934
222,992
264,893
303,578
306,209
327,078
35,002
34,800
40,428
44,267
45,048
49,919
56,658
64,424
72,541
77,903
81,592
90,883
100,218
104,659
114,633
130,357
150,541
159,669
166,916
187,934
222,992
264,893
303,578
306,209
327,078
3.78
4.61
5.65
6.15
6.09
7.52
8.26
8.53
9.44
9.55
9.78
9.50
10.47
10.77
10.45
11.25
12.05
12.66
12.88
12.69
12.48
12.68
12.80
12.53
12.75
13.19
13.53
13.08
12.63
3.96
5.03
6.17
5.96
6.45
7.78
8.26
8.83
9.50
9.61
9.65
9.65
10.64
10.54
10.64
11.41
12.22
12.80
12.88
12.62
12.49
12.81
12.67
12.33
13.14
13.38
13.41
12.56
12.78
13.47
14.33
14.88
14.23
END OF PERIOD
4.05
5.19
6.32
5.96
6.61
7.90
8.27
8.83
9.57
9.66
9.47
9.75
10.71
10.50
10.69
11.53
12.26
12.85
12.90
12.57
12.50
12.79
12.65
12.52
13.00
13.42
13.35
12.69
12.78
13.44
4.10
5.25
6.36
5.93
6.53
8.01
8.24
8.99
9.49
9.66
9.46
10.00
10.76
10.52
10.76
11.59
12.29
12.93
12.87
12.54
12.49
12.77
12.63
12.52
12.98
13.43
13.40
12.61
12.81
4.20
5.28
6.45
5.97
6.62
8.09
8.22
9.08
9.48
9.74
9.38
10.14
10.79
10.52
10.79
11.65
12.39
12.71
12,80
12.57
12.51
12.82
12.60
12.61
13.02
13.41
13.38
12.59
12.87
4.22
5.54
6.44
5.94
6.78
8.11
8.21
9.15
9.45
9.80
9.36
10.27
10.82
10.47
10.87
11.71
12.48
12.88
12.80
12.58
12.55
12.84
12.66
12.69
12.92
13.46
13.28
12.56
12.93
13.63
4.28
5.62
6.35
5.96
6.97
8.23
8.19
9.18
9.52
9.83
9.30
10.28
10.89
10.42
10.93
11.80
12.47
12.87
12.78
12.54
12.58
12.88
12.63
12.75
12.89
13.45
13.27
12.58
12.89
13.70
4.39
5.71
6.23
6.00
7.10
8.28
8.24
9.23
9.54
9.90
9.34
10.20
10.98
10.44
11. OC
11.80
12.45
12.86
12.81
12.49
12.62
12.82
12.59
12.74
12.98
13.49
13.20
12.63
12.94
13.78
14.79
13.98
14.78
14.88
14 .86
14 .83
14.80
14.04
14.68
1.00
4.01
2.17
1.25
6.46
2.53
1.64
4.38
2.71
2.33
0.25
6.74
2.93
2.33
5.75
7.92
6.92
6.77
0.98
3.66
-1.10
1.39
3.07
0.78
3.30
1.29
3.16
2.57
2.79
3.96
2.54
2.80
5.26
1.12
3.58
0.62
5.54
2.50
1.68
3.92
2.78
1.57
2.08
5.59
2.99
2.62
5.95
6.37
4.61
6.77
6.46
0.65
2.72
4 .04
2.86
1.60
3.67
3.29
0.94
4.06
6.68
6.52
7.75
6.68
1.56
6.29
-0.43
5.38
4.18
1,98
-0.98
4.67
5.01
-0.48
2.93
6.12
8 .73
8.17
4.86
3.90
0.02
5.95
2.85
2.62
-1.11
5.48
4.91
-0.43
5.51
6.66
7.82
9.56
4.25
3.21
0.76
5.73
2.20
2.73
-0.72
7.15
3,16
1.C4
4.91
7.24
8.08
8.00
6.15
1.89
2.01
4.11
2.78
1.83
2.00
5.21
2.29
3.00
6.13
6.94
6.43
6.74
3.42
11.14
8.02
3.48
14.15
16.96
22.64
2.56
13.03
23.56
37.38
33.56
36.40
4.82
12.02
5.99
9.82
7 .72
-0.32
16.31
17.50
17.86
-1.81
14.33
21.55
38.21
43.72
32.33
7.40
7.20
7.01
10.32
3.26
5.96
15.79
22.98
14 .05
-1.94
18.00
26.87
38.47
45.20
24.40
16.19
-0.40
2.42
8.74
9.92
5.30
7.41
14.62
24.42
10.35
-0.45
17.42
34.54
37.88
47.14
22.64
24.09
2.37
9.12
11.97
4.14
7.48
16.36
20.84
14.43
0.86
20.66
35.08
49.11
38.34
-25.89
25.29
4 .49
8.88
9.12
5.29
9.59
12.77
17.29
12.14
13.46
22.00
32.59
39.79
38.22
4.31
27.82
5.47
10.43
6.33
2.04
15.42
19.15
18.18
-C.4C
15.12
23.99
38.02
40.83
31.04
9.47
6.27
2.54
3.01
7.15
3.36
1.51
2.87
-0.05
1.62
6.82
-0.74
6.67
3.90
2.39
-1.16
5.42
3.85
-0.43
3.11
5.95
8.14
7.75
6.42
3.26
8.39
9.43
4.42
3.26
2.52
3.28
-0.58
2.06
4.08
-0.40
5.84
3.26
2.78
-0.91
4.69
6.11
-1.78
6.22
7.31
6.61
10.62
5.30
0.73
9.13
12.22
1.96
2.58
3.44
3.92
-0.29
5.72
4.63
0.08
6.30
2.52
2.27
-1.44
5.83
4.66
0.44
4.91
5.72
9.26
10.14
4.74
2.59
8.99
12.84
4.31
1.86
2.42
4.67
-0.26
6.79
2.98
0.38
5.72
2.76
2.81
-0.98
5.92
3.96
0.04
5.40
6.94
7.58
7.93
4.87
3.79
9.24
10.86
6.14
4.49
3.65
0.62
5.00
1.96
3.74
-0.28
5.84
3.94
0.66
4.93
7.55
6.85
7.56
6.71
3.00
9.97
8.40
4.88
15.68
22.75
8.60
-4.31
16.54
40.15
43.96
40.20
7.85
35.65
18.19
21.41
13.66
-1.03
22.75
37.51
46.00
45.71
-21.06
32.66
15.60
21.04
14.87
-0.55
20.60
34.37
49.96
37.99
-31.76
18.85
15.28
20.08
14.75
4.15
18.62
33.37
51.37
31.33
-24.85
24.37
10.56
20.04
12.74
16.28
20.62
29.56
43.07
33.79
-6.74
18.61
NOTE: These series contain revisions beginning with 1980.
Annual
8,777
10,762
14,623
15,293
18,045
23,107
23,808
28,185
31,823
34,326
INSTALLMENT CREDIT TO PERSONAL INCOME
(PERCENT)
^
4.88
6.03
6.01
6.28
IV Q
8,569
10,545
14,264
15,178
17,773
22,850
23,771
27,665
31,630
34,174
113. NET CHANGE IN CONSUMER INSTALLMENT CREDIT
(ANNUAL RATE, BILLIONS OF DOLLARS)
1948...
1949...
1950. . .
1951...
1952. . .
1953...
1954. . .
1955...
1956...
1957...
1958...
1959...
1960...
1961. . .
1962. . .
1963...
1964...
1965. . .
1966...
1967...
1968...
1969...
1970...
1971. . .
1972...
1973. ..
1974...
1975...
1976...
1977...
1978...
1979. . .
1980...
1981...
1982...
Hi Q
2.50
2.60
4.31
1.38
3.26
3.08
0.44
6.24
2.32
1.82
-0.50
8.00
2.74
1.22
4.94
6.85
7.63
8.16
5.87
4.84
7.58
8.12
5.59
10.68
13.85
16.32
14.26
11.92
21.18
35.36
36.90
32.77
9.44
29.14
4 .20
5.28
6.45
5.97
6.62
8.09
8.22
9.08
9.48
9.74
9.38
10.14
10.79
10.52
10.79
11.65
12.39
12.71
12. 80
12.57
12.51
12.82
12.60
12.61
13.02
13.41
13.38
12.59
12.87
13.59
14 .45
14 .88
4.39
5.71
6.23
6.00
7.10
8.28
8.24
9.23
9.54
9.90
9.34
10.20
10.98
10 .44
11.00
11.80
12.45
12.86
12.81
12.49
12.62
12.82
12.59
12.74
12.98
13.49
13.20
12.63
12.94
13.78
14.46
14 .80
4.39
5.71
6.23
6 .00
7.10
8.28
8.24
9.23
9.54
9.90
9.34
10.20
10.98
10.44
11.00
11.80
12.45
12.86
12.81
12.49
12.62
12.82
12.59
12.74
12.98
13.49
13.20
12.63
12.94
13.78
14 .46
14.80
13.45
13.13
AVERAGE FOR PERIOD
2.58
2.80
4.31
1.54
4.99
2.89
1.21
5.96
2.32
2.62
-1.37
7.60
2.80
1.24
4.87
7 .33
9.77
8.27
3 .41
5.64
9.C8
10.84
5.4C
12.89
13.91
15.52
9.42
12.18
24 .20
32.84
39.40
48.10
10.22
35.70
2.38
2.62
3.25
0.66
4.20
3.82
0.59
5.30
3.00
2.29
-0.20
5.63
3.84
0.78
4.87
6.74
7.76
8.12
5.36
3.69
9 .29
9.34
4.44
9.98
15.72
20.18
9.13
7.25
21.02
35.06
41.90
38.69
2.63
20.87
(MAY 1982}
C. Historical Data for Selected Series—Continued
Year
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
N 3v. Dec.
0.09
-0.18
-O.C9
-0.09
-C.09
0.
-0 .27
0 .09
-C.27
0.18
0.58
0.16
0.08
0.15
0.23
0.22
-0.30
0.14
-0.28
-0.07
II
-0.15
-0.09
0.39
0.41
0.30
0.16
0.11
0.31
0.13
0.
C.15
0.48
0.
0.28
0.18
0.31
0.28
0.25
0.53
C.53
0.43
0.45
0.34
0.72
0 .90
0.36
0.50
0.31
0.55
C .75
0.52
0.41
0.52
0.79
-0.18
0.03
0.48
0.29
C .33
C .13
C .19
C .20
C .07
C
C .47
C .33
-0.05
0.23
0.14
C .29
C .26
C .17
C .21
C .44
C .69
C .22
C .32
C .75
C .37
C .69
C .26
C .75
C ,49
C .52
f .91
C .86
-C .11
C ,32
0.27
-0.27
-0.18
0.
-0.54
0.
-0.27
0.09
-0.18
0.18
-0.09
-0.18
1951...
1952...
1953...
1954...
1955...
1956. . .
1957. . .
1958...
1959. . .
1960...
0.44
0.33
0.
0 .16
0.54
0.23
0.
-0.30
0.79
0.07
0.35
0.41
0.
0.08
0.61
0.
-0.07
0.53
0.36
-0.07
0.43
0.16
0.48
0.08
-0.23
0.15
0.07
0.22
0.29
0.
0.17
0.25
0.24
-0.47
0.23
0.22
0.
0.37
-0.07
-0.21
0.35
0.33
0.16
0.87
0.53
-0.15
0.07
0.37
0.71
0.07
0.34
0 .41
0.
0.16
-0.15
0.15
-0.07
0.67
0.35
0.
0 .43
0.24
0.08
0.31
0.30
0.
0.07
0.
0.35
0.43
0.43
0.32
0.08
0.31
C.
-0.22
0.07
0.51
0.14
0.78
0.68
0.57
-0.08
0.16
0.15
0.37
-C.22
0.22
-0.56
-0.07
C.51
0.24
0.08
0.47
0.15
0.07
-0.22
0.44
-0.42
-0.21
0 .76
0 .32
0
0 .46
-0 .23
0 .22
-0 .15
0 .58
-0 .07
0
1962...
1963...
1964. . .
1965...
1966...
967...
968. . .
969. . .
970. . .
971.. .
1972. . .
1973.. .
1974...
1975...
1976...
1977...
1978...
1979...
1980...
1981...
1982...
0.07
0.34
0.32
0.31
0.77
-0.06
0 .49
0.70
1 .07
0.55
0 .91
1.03
0.45
0.
0.55
0.97
1.19
0.19
0.75
0.82
0.27
0.40
0.39
0.06
0.29
0.63
0.32
0.30
-0.77
0.69
0.77
0.12
0.49
0.25
0.68
0.64
-0.03
0.16
0.82
0.36
G*.20
0.20
0.13
0.37
0.53
1.03
0.48
0.35
0.73
0.91
1.02
-0.08
0.56
0.68
0.41
0.63
0.41
0.88
0.
1.19
0.34
0.33
0.26
0.37
0.75
-0.28
0.59
0.35
0.67
0.68
0.59
0.39
0.04
-0.18
0.68
0.82
1.14
1.55
-1.32
2.10
0.27
0.46
0.32
-0.24
-0.35
0.80
0.74
0.
0.14
0.90
C.17
0.86
0.30
1.07
0.71
0.25
0 .93
-0.19
-0.23
-0.95
-0.20
0.07
0.19
0.37
0.23
0.79
0.74
0.30
0.14
0.67
0.34
0.81
0.44
1.35
0.07
0.5C
0.66
1.23
1.21
-0.19
0.
0.59
0.83
0.49
-0.69
0.67
0.57
0.20
0.19
0.49
0.79
0.23
0.22
0.21
0.27
0.65
0.51
0.98
1 .09
0.23
0.
0.26
0.57
0.36
0.23
0.83
0.68
-0.05
0.95
0.35
0.91
0.12
0.26
0.42
0.66
0.52
0.48
0.58
1.78
0.4C
-0.14
0.13
0.63
0.73
0.64
0.55
0.52
0.25
0.75
0.35
0.90
0.04
0.29
0.31
0.23
0 .74
1.02
0.55
1.38
0.02
0.27
0.39
0.31
0.72
-0.40
0.55
0.67
0.39
0.33
0.22
0.73
0.38
0.40
-0.24
0.96
0.79
C.34
0.31
1.17
0 .41
0 .71
0 .37
0 .42
0 .12
0 .38
0 .97
0 .29
0 .37
0 .17
0 .57
C .76
0 .62
1 .01
0 .33
0 .63
0 .59
0 .10
0 .48
0.34
-0.26
0.25
0.65
0.35
0.49
0.71
0 . 10
0.51
0.35
1.16
0.72
0.22
-0.07
0.94
0.66
0.72
0.54
-0.72
102. CHANGE IN MONEY SUPPLY M2
(MONTHLY RATE, PERCENT)
1948...
1949...
1950...
1951...
1952...
1953...
1954. . .
1955...
1956...
1957...
1958...
1959...
1960...
1961...
1962 ...
1953!!!
1964...
1965...
1966. . .
1967...
1968...
1969...
1970...
1971.. .
1972. . .
1973...
1974...
1975...
1976...
1977...
1978. . .
1979...
1980...
1981...
1982...
0.24
-0.15
0.20
0,33
0.36
C.13
0.29
0.48
0.12
0.39
-0.11
0.95
0.13
0.54
0.60
0.66
0.51
0.64
0.61
0.27
0.40
0.35
-0.05
0.91
0.95
0.99
0.46
0.41
1.03
1.09
0.73
0.39
0.65
0.57
1950. . .
1951. . .
1952. . .
1953...
1954...
1955. . .
1956...
1957...
1958. . .
1959. . .
1960...
1961. . .
1962...
1963. . .
1964...
1965...
1966...
1967. . .
1968...
1969...
1970...
1971...
1972. . .
1973...
1974...
1975...
1976...
1977. . .
1978. . .
1979...
1980...
1981...
1982...
NOTE:
o!l6
0 .08
0.95
0.46
0.23
0.45
0.39
0.47
0.08
0.84
0.3.1
0.57
0.67
0.58
0.46
0.56
0.65
0.42
0.60
0.35
0.01
0.83
0.89
1.04
0.83
0.55
0.73
0.82
1 .00
0.71
0.87
1.13
IV Q
Annual
0.06
-0.12
0.33
0.51
0.38
C.03
0.26
0.15
0.05
-0.03
0.24
-0.02
0.38
0,23
-0.05
0.33
0.68
0.53
0.06
0.68
0.59
0.13
0.63
0.40
0.87
0.13
0.26
0.31
0.39
0.64
0.67
0.70
1.42
0.22
-0.21
0.09
C . 26
0.62
0.24
0.05
0.36
0.05
0.17
-0.22
0.39
-0.26
-0.09
0.32
0.34
0.28
0.31
0.60
0.02
0.47
0.78
0.26
0.40
0.25
0.82
0.62
0.41
0.23
0.74
0.69
0.55
0.32
0.31
-0.12
-0.02
0 . 37
0.46
0.31
0.09
0.23
0.18
0.10
-0.06
0.31
0.13
0.06
0.27
0.15
0.30
0.38
0.38
0.21
0.53
0.62
0.26
0.42
0.53
0 .74
0.45
0.36
0.40
0.54
0.65
0.66
0.57
0.53
AVERAGE FOR PERIOD
0,
0.
0.54
0.19
0.50
0.17
0.29
0.60
0.
0.19
1.21
0.42
0.13
0.83
-0.39
0.
0.29
0.33
0.27
0.56
0.29
-0.12
0.20
0.38
0.82
0.52
0.3C
0.57
-0.20
0.15
0.54
0.19
0.31
0.26
-0.04
0.28
0.27
C.15
0.78
0.28
0.23
0.47
-0.15
0.20
0.44
0.33
0.36
0.30
0.82
0.40
-0.04
0.30
0.62
0.79
0.30
0.75
0.
-0.05
0.29
0.33
0.40
0.13
0.29
0.
0.23
C.ll
0.91
0.58
0.47
0.62
0.15
-0.10
0.24
0.51
0.31
0.26
0.49
0.28
0.12
0.30
0.40
0.41
0.60
0.40
0.10
-0.15
0.24
0.42
0.44
0.21
0.53
0.
C.
0.26
0.65
0.41
0.92
0.64
-0.05
-0.05
0.05
0.70
0.61
0.13
0.16
0.28
0.43
0.08
0.29
0.13
0 .49
0.58
-0.05
0.
0.24
0.46
0.26
0.30
0.45
0.16
C.12
C.08
0.36
-0.10
0.32
0.49
-0.15
0 .05
0 .24
C .78
C .48
C .17
C .41
-C .08
0 .27
C .11
C .52
0 .20
0 .45
0.66
-0.20
0.15
0.24
0.55
0.30
0.21
0.16
0.24
0.19
0.
0.21
0.20
0.45
0.63
-0.05
-0.05
0.34
0.28
0.38
0.29
0.29
0.32
C .11
0.32
0.64
0.63
0.19
0.65
-0.12
C .10
C .42
C .28
C .36
C .23
C .36
C .23
f .15
C .19
C .77
C .55
C .33
0.61
0.07
-0.10
0.18
0.54
0.45
0.20
0.39
0.19
0.18
0.21
0.45
0.32
0.67
0.54
-0.13
0.07
0.24
0.60
0.35
0.23
0.34
0.11
0.19
0.06
0.37
0.10
0.41
0.59
-0.06
0.
0.30
0.43
0.38
0.24
0.35
0.21
0.16
0.20
0.56
0.40
0.40
0.60
0.79
0.63
0.70
0.58
0.75
0.64
0.49
-0.27
1.42
1.22
0.63
0.68
0.96
1.46
1.08
0.50
0.55
0.86
0.75
0.76
0.55
0.65
0.56
0.93
0.53
0.44
0.39
1.54
1.21
0.26
0.79
1.29
0.94
1.06
0.75
1.00
0.52
1.36
0.65
0.45
0.48
0.45
0.47
0.45
0.19
0.20
1.38
0.62
0.39
0.15
0.98
1.03
0.94
0.63
0.99
-0.28
1.30
0.75
0.62
0.37
0.17
1.05
0.63
0.17
0.54
1.27
0.67
0.90
0.32
1.43
1.38
0.98
0.80
0.67
0.81
0.53
0.64
0.69
0.69
0.26
C.96
0.67
0.36
0.54
0.94
0.92
0.93
0.50
1.64
0.46
0.70
0.53
1.00
1.23
0.48
0.71
0.76
0.64
-0.08
0.85
0.53
0.14
0.33
0.72
1.14
0.32
0.27
1.11
0.72
0.72
0.48
0.69
1.33
0.74
0.66
0.83
0.68
0.4C
0.93
0.75
0.14
0.83
0.85
1.24
0.38
0.40
0.92
1.34
0.82
0.73
0.83
1.25
1.06
0.63
0.82
0.83
0.61
0.76
0.78
0.36
0.91
0.95
1.14
0.11
0.45
0.92
1.11
0.82
0.85
0.64
0.68
0.33
0.60
0.53
0.69
C.08
0.7G
0.72
0.24
0.77
0.79
1.00
0.35
0.42
0.48
1.2C
0.62
0.57
0.30
0.67
C.85
0 .72
C .66
0 .34
0 .60
0 .88
0 .36
C .88
1 .01
1 .04
0 .84
0 .71
1 .08
1 .21
0 .80
C .69
0 .35
C .97
0.43
0.66
0.79
0.67
0.77
0.87
0.54
1.11
0.95
1.13
0.75
0.28
0.80
1.35
0.66
0.65
0.48
0.01
0^74
0.56
0.66
C.58
0.65
0.52
0.43
0.02
1.29
1.13
0.63
0.64
0.89
1.14
1.08
C.66
0.65
0.68
0.89
0*.68
C .59
C .51
C .29
C ,83
C .58
C .24
C .43
].20
C .74
C .74
C .32
1 .35
C .96
C .87
C .65
C .89
C .59
C .77
0^67
0.80
0.72
0.31
0.85
0.69
0.21
0.69
0.84
1.17
0.27
0.37
0.98
1.06
0.79
C.69
0.72
1.09
0.71
o!63
0.64
0.71
0.36
0.69
0.82
0.38
0.92
0.92
1.06
0.65
0.47
0.79
1.25
0.69
0.64
0.38
0.55
ol68
0.65
0.65
0.39
0.75
0.65
0.32
0.52
1.06
1.02
0.57
0.45
1.00
1.10
0.86
0.66
0.66
0.72
104. CHANGE IN TOTAL LIQUID ASSETS, MONTHLY DATA
(MONTHLY RATE, PERCENT)
1948...
ill Q
AVERAGE FOR PERIOD
1948. . .
1949. . ,
0.18
-0.09
Q
i Q
85. CHANGE IN MONEY SUPPLY Ml
{MONTHLY RATE, PERCENT)
0.04
-0.17
oUi
0*.33
0.20
0.45
0.88
0.20
0.03
0.18
0.64
0.25
0.43
0.31
0.39
0.92
0.68
0.47
0.68
0.51
0.87
0.66
0.58
0.63
1.12
1.16
1.16
1.05
0.80
0.94
1.06
1.19
1.34
0.75
0.81
0.52
0.64
0.27
0.52
0.48
0.50
0.42
0.13
0.26
0.62
0.69
0.85
0.59
0.63
0.58
0.79
0.74
0.56
0.03
0.98
1.15
1.20
1.21
0.76
1.00
1.03
0.82
0.79
1.00
0.87
0.
0.57
0.28
0.19
0.80
0.03
0.61
0.
0.29
0.20
0.32
0.10
0.51
0.70
0.46
0.45
0.54
0.66
0.32
0.53
0.35
0.52
0.73
0.74
0.72
0.76
0.52
0.92
0.9C
1.01
1.12
0.44
0.72
0.08
0.17
0.17
0.13
0.04
0.04
C.08
0.16
0.05
0.36
0.36
0.28
0.08
0.04
0.28
0.24
0,40
0.30
0.43
0.13
0.31
0.29
0.37
0.59
0.47
0.89
0.21
0.32
0.31
0.82
0.15
0.66
0.52
0.77
0.68
0.54
0.35
0.68
0.68
0.11
0.41
0.70
0.77
1.02
0.77
0.97
0.99
1.09
1.21
1.18
0.83
1.12
0.59
0.45
0.13
0.57
0.21
0.26
0.39
0.68
0.46
0.53
0.63
0.52
0.75
0.79
0.32
0.76
0.82
0.36
0.53
0.93
1.02
1.15
0.93
1.10
0.70
0.97
0.78
1.39
0.50
0.95
0.55
C.68
0 .30
0.72
0.03
0.43
0.11
0.63
0.46
0.48
0.38
0.52
0.50
0.73
0.08
0.64
0.83
-0.08
0.79
0.99
0.99
0.87
0.59
0.77
0.83
1.00
0.90
0.91
0.83
0.95
0.58
0.44
0.46
0.50
0 .30
0.34
0.64
0.54
0.48
0.45
0.64
0.86
0.53
0.65
0.30
0.92
0.90
0.07
0.83
0.67
1.17
1.05
0.67
0.74
1.03
1.07
1.00
0.86
1.22
1.16
0.54
0.14
0.36
0.74
0.45
0.14
0.50
0.18
0.55
0.45
0.57
0.79
0.89
0.72
0.56
0.80
0.87
0.52
0.71
0.71
1.07
0.86
0.69
0.96
0.62
C.95
0.89
0.99
0.57
0.68
0.54
C.10
0.49
0.55
0.27
0.03
0.52
-C.03
0.25
0.57
C.35
0.42
0.62
0.66
0.20
0.64
0.85
0.28
0.68
0.72
0.99
0.58
0.47
0.69
0.84
0.99
0.69
0.17
0.69
0.61
C .13
C .42
C .40
C .38
0 .06
C .79
C .13
C .22
t .71
C .98
C .93
C .60
C .68
C .49
C .71
C .82
C .44
C .62
C .83
3 .39
C .83
C .56
1 .27
3 .05
1 .2C
1 .29
C .70
3 .15
0.50
0.30
0.32
0.43
0.41
0.34
0.54
-0.10
0.25
0.58
C.87
0.44
0.52
0.67
0.65
0.82
0.82
0.66
0.77
0.94
1.23
0.68
0.38
0.59
1.06
0.85
1.02
0.39
0.76
0,64
0.66
0.23
0.33
0.35
0.54
0.25
0.47
0.29
0.53
0.76
0.70
0 .51
0.62
C .58
0 .69
0.67
0 .50
0.22
0.98
1.07
1.13
1.03
0.70
0.89
0.97
1.00
0.95
0.87
0.94
0.38
3.61
).21
3.69
3.14
3.29
3.30
3.61
3.24
3.57
3.62
3.58
3.63
).62
1.44
3.59
C3.68
).27
().49
;.79
).84
(}.96
(3.82
(3.86
(3.87
3.99
L.OO
L.23
3.59
(^.93
0.56
0.42
0.37
0.65
0.26
0.30
0.42
0.45
0.50
0.46
0.53
0.72
0.64
0.70
0.31
0.79
0.87
0.17
0.78
0.79
1.08
0.93
0.65
0.82
0.83
1.01
0.93
0.92
0.87
0.93
0.55
0.18
0.41
0.46
0.35
0.14
0.62
0.
0.24
0.62
0.73
0.60
0.58
0.67
0.45
0.73
0.83
0.46
0.69
0.83
1.20
0.70
0.47
0.85
0.98
1.01
1.00
0.42
0.8?
0.53
0.47
0.31
0.53
0.28
0.32
0.40
0.38
0.32
0.54
0.66
0.65
0.59
0.65
0.45
0.70
0.76
0.35
0.54
0.85
1.05
0.93
0.74
0.81
0.89
0.99
0.98
0.88
0.80
These series contain revisions beginning w i t h 1948.
AVERAGE FOR PERIOD
-0.02
-0.13
(MAY 1982)
99
C. Historical Data for Selected Series—Continued
Year
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
1 Q
104. CHANGE IN TOTAL LIQUID ASSETS, SMOOTHED DATA 1
(MONTHLY RATE, PERCENT)
1949...
1950...
1951...
1952. . .
1953...
1954...
1955. . .
1956...
1957...
1958. . .
1959...
1960. . .
1961...
1962...
1963...
1964...
1965. . .
1966...
0.02
0.22
0.27
0.72
0.54
0.20
0.40
0.43
0.39
0.15
0.67
0.06
0.29
0.64
0.77
0.60
0.57
0.67
0.01
0.25
0.20
0.75
0.53
0.24
0.41
0.42
0.44
0.22
0.61
0.14
0.41
0.65
0.79
0.55
0.57
0.65
0.04
0.29
0.13
0.68
0.60
0.25
0.38
0.39
0.50
0.26
0.48
0.23
0.50
0.70
0.74
0.50
0.60
0.61
0.12
0.37
0.13
0.51
0.72
0.20
0.36
0.28
0.51
0.27
0.38
0.26
0.52
0.77
0.68
0.51
0.62
0.58
-0.07
0.21
0.43
0.21
0.36
0.77
0.20
0.45
0.18
0.45
0.27
0.41
0.20
0.51
0.74
0.65
C.52
0.60
0.54
1968..!
1969. . .
1970...
1971...
1972...
1973...
1974. . .
1975...
1976...
1977. . .
1978...
1979. . .
1980...
1981...
1982...
o!?2
0.75
0.42
0.72
0.86
1.21
0.74
0.48
0.86
0.98
1.02
1.00
0.54
C.94
0.72
0.62
0.30
0.80
0.94
1.19
0.84
0.53
0.82
0.97
0.95
0.92
0.70
0.97
o!?o
0.66
0.50
0.31
0.96
1.04
1.08
1.02
0.70
0.92
0.98
1.01
1.02
0.80
0.87
o!63
0.42
0.46
0.90
0.95
1.00
0.93
0.73
0.95
1.01
1.07
1.15
0.70
0.84
0.54
0.23
0.92
1.03
1.15
0.97
0.63
0.83
0.97
0.95
0.89
0.81
0.93
196.9
190.5
195.0
189.1
191.3
196.7
196.9
204.5
207.7
203.5
194.5
201.6
200.8
199.4
204.2
205.7
209.8
217.2
224.1
220.2
228.3
235.3
229.6
228.5
236.1
249.1
238.8
221.7
219.0
223.1
226.5
222.0
209.9
200.3
196.8
191.2
195.3
186.3
192.3
196.9
196.7
205.3
207.4
202.4
195.2
202.4
200.3
200.1
204.2
206.3
210.9
217.3
223.3
221.3
228.1
235.2
226.7
229.6
237.0
247.7
237.1
221.1
220.5
222.6
225.2
220.0
209.0
199.1
197.1
191.3
195.7
186.8
193.0
197.6
197.2
205.0
207.5
202.1
194.3
203.1
200.4
200.6
204.1
206.5
210.9
217.9
223. S
223.6
228.5
234.3
227.3
231.4
239.2
245.6
236.1
221.9
221.0
222.9
224.6
220.0
206.2
200.4
193.9
191.3
196.8
187.0
192.8
197.7
196.8
205,4
207.7
201.5
194.7
202.9
199.0
201.0
204.5
207.3
211.3
218.1
224.8
222.5
229.2
234.0
227 .6
232.1
240.2
244.9
234.9
220.8
222.0
223.2
225.4
221.2
201.6
203.7
192.0
191.7
196.8
187.0
193.4
197.8
198.0
206.7
206.5
201.2
195.4
204.0
199.0
201.7
2G5.0
208.1
211.9
217.0
223.6
223.8
230.2
233.3
227.0
233.3
239.9
245.5
233.1
222.6
222.6
222.8
225.6
218.4
199.3
200.2
0 .08
0.18
0.29
0.45
0.51
0.54
0.3C
0.66
0.18
0.32
0.33
0.62
0.40
0.52
0.54
0.63
0.63
0.69
0.29
0 .10
0.16
0,18
0.59
0.56
0.22
0.42
0.57
0.34
C.16
0.56
0.18
0.38
0.54
0.59
0.69
0.66
0.68
0.38
0.14
0.28
0.37
0.55
0.51
0.29
0.53
0.28
0.34
C.34
0.46
0.28
0.49
C.63
0.68
0.59
0.64
0.46
0.84
0.44
0.68
0.79
1.18
0.73
0.52
0.91
0.91
1.03
0.98
0.52
0.84
0.71
0.64
0.32
0.81
0.94
1.18
0.85
0.55
0 .84
0.97
0.97
0.94
0.68
0.95
0.65
0.41
0.42
0.89
0.95
1.01
0.93
0.75
0.93
1.00
1.05
1.13
0.71
0.87
0.80
0.15
0.64
0.84
0.98
1.00
0.74
0.89
0.85
1.01
0.94
1.10
0.77
0.99
0.86
0.34
0.72
0.76
1.12
0.80
0.58
0.87
0.86
1.02
C.93
0.66
0.84
0.75
0.38
0.52
0.83
1.00
1.00
0.78
0.76
0.87
1.00
0.97
0.96
0.75
190.2
192.6
193.6
190.6
196.0
197.0
203.0
206 .4
204 .1
197.3
200.1
201.3
199.4
203.8
204.6
210.7
216.5
222.0
220 .2
227.6
233.6
229.6
227.6
234.7
245.7
240.3
224.8
220.1
221.3
224.9
223.2
212.5
203.6
190.7
193.7
191.2
190.6
196.1
197.0
203.4
207 .0
203.7
196.3
200.3
200.5
199.0
204.2
205.4
209.6
216.7
222.6
220 .8
228.0
234.6
228.4
227.6
234.5
247.7
240.1
223.2
218.6
222.3
225.3
223.5
211 .2
200.2
196.9
191.0
195.3
187.4
192.2
197.1
196.9
2C4.9
207.5
202.7
194.7
202.4
200.5
200.0
204.2
206.2
210.5
217.5
223.8
221.7
228.3
234.9
227.9
229.8
237.4
247.5
237.3
221.6
220.2
222.9
225.4
220.7
208.4
199.9
192.2
191.4
196.7
187.4
193.3
197.6
197.7
206.3
206.7
201.0
195.6
203.7
198.9
201.6
204.8
207.7
211.7
217.3
224.1
223.7
230.1
233.3
227.0
233.0
240.1
245.5
233.4
222.5
222.1
222.9
225.4
219.5
200.2
200.8
0.15
0.14
0.19
0.49
0.56
0.47
0.34
0.62
0.22
0.32
0 .40
0.53
0.48
0.47
0.54
0.68
0.62
0.71
0.27
0.14
0.13
0.13
0.52
0.56
0.32
0.40
0.63
0.30
0.24
0 .49
0.34
C.46
0.48
0.52
0.71
0 .66
0.69
0.33
0 .09
0,15
0.16
0.59
0.56
0.18
0.43
0.58
0.35
0.12
0.58
0.16
0.38
C.53
0 .58
0.70
0.69
0.68
0.38
0.06
0.19
0.25
C.66
0.56
0.15
0.42
0.51
0.36
0.11
0.61
C.05
0.29
0.60
0.68
0.66
0.64
0.68
0.43
0*.65
0.31
0.50
0.82
0.87
0.96
0.84
0,81
0.91
1.00
1.07
1.22
0.63
0.91
0.73
0.20
0.53
0.83
0.88
0.99
0.79
0.90
0.86
1.00
0.98
1.20
0.66
0.97
0.81
0.12
0.65
0.87
0.99
1.02
0.75
0.91
0.85
1.02
0.93
1.11
0.78
1.01
0.86
0.14
0.75
0.83
1.07
0.98
0.69
0.85
0.84
1.01
0.91
0.99
0.86
0.98
0.87
0.23
0.76
0 .75
1.08
0.88
0.63
0.81
0.83
1.01
0.90
0.80
0.85
0.86
0.35
0.71
0.73
1.11
0.79
0.59
0.88
0.83
1.02
0.91
0.65
0.82
189.0
192.6
195.5
190.2
193.8
197.1
200 .1
207 .4
204.4
199.3
197.8
204.8
201.2
202.3
204 .3
208.5
214.9
219.1
221.0
226 .5
231.7
230.8
227.7
234.3
243.0
242.4
228.8
222.3
221.3
223.5
224.5
217.6
203.9
195.8
189.4
191.9
194.8
190.4
195.2
196.6
200 .8
206.8
204 .9
198.7
198.3
203.0
201.0
202.4
203.1
208.9
215.9
220.2
221.8
227.1
232.2
230.3
228.1
234 .9
244 .2
241.6
226.3
221.5
220.5
224.1
224.9
216.4
204.7
193.7
189.6
192.7
194.2
190.2
195.3
196.3
202.4
207.2
203.8
198.3
199.2
201.6
199.7
203.0
203.9
209.5
216.2
221.6
220.1
227 .6
232.5
230.2
227.7
234.8
245.2
240.6
225.4
219.5
221.5
225.0
223.6
214.8
204.9
AVERAGE FOR PERIOD
106. MONEY SUPPLY M2) IN 1972 DOLLARS
( B ILLIONS OF DOLLARS)
189.1
192.5
195.4
189.9
194.1
197.0
200.1
207.1
204.7
199.3
197.7
204.1
200. 7
202.1
204.0
208.5
214.8
219.1
221.5
226.4
231.7
231.0
227,3
234.5
242.9
243.5
229.0
222.0
220.9
223.6
224.8
217.5
203.4
195.4
190.2
193.0
193.0
190.5
195.8
196.8
202.9
206.9
203.9
197.3
199.9
201.1
199.4
203.7
204.6
209.9
216.5
222.1
220.4
227.7
233.6
229.4
227.6
234.7
246.2
240.3
224.5
219.4
221.7
225.1
223.4
212.8
202.9
192.1
192.0
195.1
188.8
193.8
197.1
199.4
206.3
205.7
200.1
197.0
202.8
199.9
201.8
204.4
208.1
213.4
219.0
222.4
224.9
230.9
232.2
227.5
233.0
241.7
244.2
231.0
221.4
221.2
223.6
224.8
217.6
203.7
AVERAGE FOR PERIOD
1948...
1949...
1950...
1951...
1952...
1953...
1954...
1955...
1956...
1957...
1958...
1959...
1960...
1961...
1962...
1963...
1964. . .
1965...
1966...
1967. . .
1968...
1969...
1970...
1971...
1972...
1973...
361.4
352.7
361.6
347.5
350.9
364.1
370.8
389.9
397.3
393.7
387.4
413.1
424.5
440.3
470.1
501.8
534.5
572.2
606.5
612.0
648.9
669.7
652.5
665.9
730.9
797.3
361.7
354.0
362.0
341.9
353.0
365.2
371.3
391.5
396.7
392.7
391.4
415.1
424.4
443.6
472.5
505.2
538.5
576.1
606.1
616. C
650.5
670.6
647.3
674.2
736.9
796.6
362.8
354.2
362.6
342.5
354.6
366.7
373.0
391.2
397.2
393.3
392.0
417.4
425.8
446.3
475.6
508.5
540.9
579.4
608.0
621.7
652.0
668.5
646.9
683.4
745.2
792.5
357 .2
354.4
364.3
342.8
354.5
367.1
373.8
392.3
397.7
392.6
394.4
418.4
424.8
448.8
478.1
512.2
543.0
580.5
608.5
623.3
653.0
666.7
644.9
690.5
748.6
790.1
353.8
355.3
364.1
342.8
355.6
367.7
375.9
394.2
395.9
393.0
396.7
421.1
425.7
451.8
480.6
515.6
546.0
581.1
608.4
628.6
655.2
666.0
645.5
696.4
751.2
792.3
351.6
355.0
363.5
344.7
356.4
367.2
377.0
394.9
395.2
391.9
400.6
422.3
427.4
454.6
483.9
517.3
549.2
582.8
609.0
632.1
657.0
664.1
646.8
699.4
756.9
795.4
348.5
357.9
361.7
346.8
355.5
368.2
379.8
395.5
393.6
391.9
402.5
423.7
430.5
455.0
485.6
519.5
553.2
586.7
607.3
635.6
657.4
662.0
646.7
702.7
763.1
797.4
348.5
357.4
360.4
348.9
357.0
368.0
382.0
396.0
393.4
391.7
404.7
425.1
433.8
457.7
487.5
522.1
557.7
591.3
606.1
639.0
659.1
659.9
650.4
706.4
770.8
786.2
349.4
356.4
358.6
349.2
359.8
367 .9
383.4
395.4
394.6
391.6
406.0
424.4
435.7
459.8
488.0
525.7
561.3
595.0
6C8.4
641.9
662.4
659.3
652.4
712.5
776.4
784.1
350.0
357.9
357.2
348.7
360.1
368.2
386.3
396.1
392.7
392.0
407.6
422.7
435.2
462.1
491.8
528.4
563.5
598.4
606.5
644.5
663.3
657.9
654.1
716.3
781.7
780.5
351.6
357.4
356.3
349.6
361.9
370.0
387.2
395.2
393.5
391.0
409.2
423.3
436.5
465.0
495.3
532.1
566.2
600.9
608.3
645.7
666.0
656.7
657.1
721.9
786.7
780.2
352.8
359.4
351. B
349.5
362.7
370.6
388.0
396.4
392.6
390.3
409.9
423.6
438.0
467.5
499.5
532.9
569.1
603.4
611.7
648.8
669.9
656.3
661.0
725.8
793.1
779.8
362.0
353.6
362.1
344.0
352.8
365.3
371.7
390.9
397.1
393.2
390.3
415.2
424.9
443.4
472.7
505.2
538.0
575.9
606.9
616.6
650.5
669.6
648.9
674.5
737.7
795.5
354.2
354.9
364.0
343.4
355.5
367.3
375.6
393.8
396.3
392.5
397.2
420.6
426.0
451.7
480.9
515.0
546.1
581.5
608.6
628.0
655,1
665.6
645.7
695.4
752.2
792.6
348.8
357.2
360.2
348.3
357.4
368.0
381.7
395.6
393.9
391.7
404.4
424.4
433.3
457.5
487.0
522.4
557.4
591.0
607.3
638.8
659.6
660.4
649.8
707.2
770.1
789.2
197s!!!
1976...
1977.. .
1978...
1979...
1980...
1981...
1982. . .
731.1
776.6
842.9
872.2
859.8
818.6
798.4
734.4
787.9
844.8
871.8
855.3
815.6
796.8
741.5
793.9
849.5
872.3
856.5
808.9
803.1
746.4
800.1
851.8
871.0
856.3
799.3
810.1
755.2
807.7
856.4
870.6
852.8
798.2
808.1
762.3
807.6
858.0
868.0
852.5
800.1
806.0
763.1
808.7
860.4
866.5
849.1
810.1
802.8
766.8
815.3
863.7
867.0
847.2
814.6
804.9
768.6
819.6
867 .0
866.9
843,5
812.0
798.8
767.2
825.1
869.1
864.0
837.0
808.8
769.9
831.7
869.9
863.6
830 .4
807.7
771.4
838.6
871.4
864.0
824.6
800.0
735.7
786.1
845.7
872.1
857.2
814.4
799.4
754.6
805.1
855.4
869.9
852.9
799.2
808.1
766.2
814.5
863.7
866.8
846.6
812.2
802.2
NOTE: These series contain revisions beginning with 1948.
'This series is a weighted 4-term moving average (with weights 1,2,2,1) placed on the terminal month of the span.
Digitized 100
for FRASER
Annual
0.19
0.41
0.22
0.41
C.72
0.21
0.47
0.20
0.44
0.27
0.45
0.22
0.52
0.73
0.65
0.54
0,61
0.53
0.09
0.18
0.29
0.46
0.54
0.55
0.30
0 .66
0.16
0.34
0,32
0.66
0.41
0.52
0.53
0.62
0.62
0.71
0.24
189.0
192.9
196.0
189.1
193.2
197.4
199.4
207.1
204.9
199.8
197.0
204.6
200.0
201.5
204.7
208.2
213.7
218.1
221.8
225.5
231.3
231.9
226.2
234.2
241.4
246.5
231.3
222.3
221.0
223.3
224.9
218.6
201.7
196.6
IV Q
0.02
0.25
0.20
C .72
0.56
0.23
C.40
0.41
C.44
0.21
0.59
0.14
0.40
0.66
0.77
0.55
0.58
0.64
0 .01
0.22
0.38
0.41
0.44
0.59
C.26
0.71
0.15
0.31
0.28
0.66
0.30
0.56
0.56
0.59
0.64
0.66
0.35
190.6
191.3
196.5
188.1
193.8
197.3
198.3
206.8
206.0
200.3
196.8
204.1
198.8
202.0
204.9
207.6
212.0
216.9
223.8
224.7
231.0
232.5
226.5
233.7
240.3
246.1
232.2
224.1
221.7
222.8
225.3
218.9
199.7
198.4
III Q
AVERAGE FOR PERIOD
-0.06
0.24
0.42
0.32
0.36
0.68
0.22
0.60
0.14
0.35
0.28
0.57
0.21
0.54
C.67
0.61
0.58
0.60
0.48
105. MONEY SUPPLY ( M l ) IN 1972 DOLLARS
(B ILLIONS OF DOLLARS)
1948...
1949. . .
1950...
1951...
1952...
1953...
1954...
1955...
1956...
1957...
1958...
1959...
1960. . .
1961...
1962...
1963...
1964...
1965...
1966...
1967...
1968...
1969...
1970. . .
1971...
1972. . .
1973...
1974...
1975...
1976. . .
1977...
1978...
1979...
1980. . .
1981. . .
1982...
II Q
351.5
358.2
355.1
349.3
361.6
369.6
387.2
395.9
392.9
391.1
408.9
423.2
436.6
464.9
495.5
531.1
566.3
600.9
608.8
646.3
666.4
657.0
657.4
721.3
787.2
780.2
769!s
831.8
870.1
863.9
830.7
805.5
354.1
356.0
360.3
346.2
356.8
367.6
379.0
394.0
395.0
392,1
400.2
420.8
430.2
454.4
484.0
518.4
551.9
587.3
607.9
632.4
657.9
663.1
650.5
699.6
761.8
789.4
756.5
809.4
858.7
868.2
847.1
807.8
(MAY 1982)
C. Historical Data for Selected Series—Continued
Year
Jan.
Mar.
Feb.
108.
1978...
1979...
1980...
1981...
1982...
l!229
l!233
1.191
1.213
1.185
1.219
1.182
1.223
1.227
1.179
1.238
l!327
l!327
l!329
1.'338
l!340
1.313
1.309
1.329
1.288
1.277
1.233
1.220
1.211
1.231
1.260
1.255
1.277
1.341
1.301
1.257
1.260
1.286
1.304
1.276
1.299
1.317
1.338
1.284
1.276
1.230
1.224
1.213
1.231
1.257
1.258
1.284
1.371
1.290
1.257
1.264
1.296
1.300
1.272
1.295
1.316
1.339
1.284
1.271
1.228
1.224
1.220
1.234
1.249
1.263
1.291
1.357
1.281
1.256
1.262
1.309
1.296
1.264
1.290
1.317
1.334
1.289
1.269
1.229
1.222
1.221
1.241
1.246
1.265
1.295
1.351
1.298
1.234
1.260
1.315
1.306
1.262
1.309
1.314
1.327
1.289
1.268
1.223
1.220
1.220
1.250
1.245
1.270
1.305
1.354
1.275
1.243
1.268
1.327
1.289
1.266
l.*245
l.*251
1.315
1.353
1.381
1.317
1.355
1.376
1.261
1.309
1.360
1.366
1.259
1.308
1.357
1.367
1.265
1.309
1.349
1.370
1.278
1.320
1.352
1.380
1.196
1.205
l!317
1.334
1.304
1.333
1.295
1.278
1.254
1.223
1.219
1.225
1.271
1.241
1.267
1.325
1.325
1.263
1.242
1.290
1.321
1.290
l!327
1.316
1.306
1.332
1.291
1.277
1.238
1.221
1.212
1.230
1.264
1.247
1.271
1.337
1.311
1.264
1.252
1.288
1.315
1.283
1.242
1.310
1.359
1.381
1957.'!!
1958...
1959...
I960.. .
1961.. .
1968...
1969...
1970...
1971...
1972...
1973...
1974...
1975...
1976...
\\221
l'.229
l'.218
1967. . .
1.040
1.002
1.085
1.186
1.224
1.204
1.194
1952!!!
1954...
1955...
1.203
1.194
602.
1948...
1949.. .
1950...
1951...
1952. . .
1953...
1954...
1955...
1956...
1957...
1958...
1959...
1960...
1961...
1962...
1963...
1964...
1,102
1,072
792
1,022
1,236
971
1,047
1,198
1,290
1,577
1,322
1,256
1,554
1,708
1,819
2,143
1,049
1,095
772
1,080
1,281
1,001
862
1,159
1,348
1,881
1,385
1,326
1,541
1,755
1,664
1,954
2,052
2,076
2,067
2,739
2,530
2,524
2,439
1,228
1,623
2,298
2,639
1968...
1969...
2,814
2,161
1970. . .
1971. . .
1972. . .
1973. . .
3,406
2,353
2,582
2,775
2,266
3,546
1977. . .
1978. . .
1979...
1980. . .
1981...
1982...
Sept.
Oct.
Nov.
Dec.
IQ
1.051
1.012
1.104
1.195
1.213
1.222
1.179
1.240
1.053
1.028
1.113
1.189
1.218
1.220
1.058
1.010
1.125
1.197
1.219
1.225
1.186
1.250
1.053
1.022
1.133
1.192
1.211
1.215
1.192
1.260
1.042
1.026
1.156
1.190
1.216
1.209
1.194
1.265
0.989
1.342
1.300
1.298
1.316
1.282
1.264
1.221
1.219
1.217
1.255
1.242
1.271
1.313
1.351
1.272
1.241
1.274
1.327
1.292
1.259
l!337
l!336
1.303
1.300
1.312
1.278
1.263
1.221
1.216
1.239
1.259
1.237
1.270
1.316
1.347
1.266
1.234
1.285
1.329
1.292
1.253
1.301
1.303
1.312
1.282
1.258
1.222
1.211
1.225
1.264
1.232
1.270
1.320
1.335
1.261
1.245
1.293
1.335
1.297
1.246
1.335
1.310
1.315
1.305
1.286
1.255
1.214
1.211
1.227
1.269
1.236
1.268
1.320
1.327
1.257
1.249
1.296
1.325
1.291
1.247
1.332
1.313
1.331
1.291
1.286
1.251
1.221
1.217
1.228
1.264
1.240
1.265
1.322
1.322
1.261
1.245
1.293
1.328
1.287
1.240
l!280
l!280
l!290
l!296
1.323
1.347
1.379
1.324
1.354
1.385
1.335
1.362
1.345
1.363
855
868
940
1,273
1,026
1,035
1,147
1,215
1,360
1,534
1,401
1,376
1,673
1,738
1,717
1,946
2,183
2,378
Aug.
3,188
3,375
1,023
1,085
786
1,256
1,138
1,024
1,196
1,113
1,394
1,739
1,364
1,305
1,627
1,637
1,804
1,927
2,081
2,406
1,062
1,046
772
1,133
1,129
1,008
1,087
1,132
1,413
1,560
1,379
1,320
1,644
1,578
1,764
1,899
989
1,078
831
1,132
1,063
998
1,091
1,170
1,442
1,674
1,337
1,357
1,643
1,621
1,877
1,837
2,076
2,299
2,080
2,235
2,484
2,582
2,870
1.-184
1.245
2,237
1,055
906
893
1,101
1,004
951
1,111
1,260
1,509
1,546
1,349
1,328
1,685
1,809
1,542
1,943
2,150
2,291
2,349
2,502
2,597
3,211
3,341
2,616
2,415
2,631
3,553
3,182
3,727
3,704
3,591
3,882
3,971
5,561
5,728
8,326
8,758
9,738
10,096
12,268
14,828
18,440
19,750
4,074
5,865
8,330
8,890
9,994
10,380
11,669
15,706
18,267
19,289
2,416
2,549
2,740
3,268
3,661
2,601
2,858
1951...
1952. ..
1953. . .
1954...
1955...
1956...
1957...
1958. . .
1959...
1961...
1962...
1963...
1964. . .
1965...
1966...
1967...
1968...
1969...
1970...
1971...
1972...
1973...
1974.. .
1975...
1976...
1977...
1978...
1979...
1980...
1981...
1982...
Annual
1.026
1.078
1.167
1.048
1.014
1.101
1.190
1.051
1.019
1.138
1.193
1.224
1.201
1.198
1.230
1.186
1.218
l!223
1.181
1.241
l!216
1.191
1.258
1.027
1.019
1.096
1.185
1.198
1.223
1.190
1.229
l!324
l!331
1.295
1.317
1.337
1.286
1.272
1.229
1.223
1.218
1.235
1.251
1.262
1.290
1.360
1.290
1.249
1.262
1.307
1.301
1.266
1.'.340
1.'334
1^332
1.321
1.306
1.331
1.291
1.277
1.242
1.221
1.214
1.229
1.265
1.248
1.272
1.334
1.312
1.261
1.251
1.288
1.313
1.283
1.304
1.304
1.318
1.283
1.265
1.222
1.218
1.225
1.255
1.241
1.270
1.311
1.351
1.271
1.239
1.276
1.328
1.291
1.259
1.308
1.316
1.303
1.285
1.255
1.219
1.213
1.227
1.266
1.236
1.268
1.321
1.328
1.260
1.246
1.294
1.329
1.292
1.244
1.307
1.311
1.322
1.286
1.267
1.228
1.219
1.221
1.246
1.248
1.262
1.298
1.343
1.283
1.249
1.271
1.313
1.299
1.263
1.305
1.351
1.375
1.246
1.314
1.356
1 .379
1.262
1.309
1.355
1 .368
1.279
1.322
1.351
1.381
1.297
1.344
1.367
l!271
1.322
1.357
1,188
858
915
1,309
1,016
1,073
1,130
1,226
1,836
1,492
1,339
1,492
1,631
1,700
1,811
3,261
3,074
3,209
2,389
3,342
3,688
2,972
3,398
3,499
2,059
2,394
2,362
2,467
2,677
2,977
3,280
3,569
2,491
2,671
3,357
2,359
3,072
3,767
3,013
2,871
3,525
3,927
5,111
4,130
3,896
4,629
5,085
3,144
2,861
3,521
2,523
3,700
3,330
3,030
3,374
3,010
3,191
3,199
3,415
3,673
4,452
4,839
4,080
4,357
5,032
5,062
5,357
4,249
4,973
4,080
3,982
4,914
5,590
4,836
5,445
5,663
6,237
6,940
7,181
7,216
7,431
7,745
8,028
7,764
10,327
7,739
8,465
9,765
10,798
11*766
15,336
22,350
27,030
27,084
29,744
30,964
41,225
52,668
59,968
ll',673
16,782
24,096
25,726
28,693
30,582
35,687
42,922
54,654
58,435
5,150
5,084
6,195
7,615
5,715
6,450
6,920
9,019
9,889
10,848
4,989
5,247
5,070
5,948
6,727
7,089
7,574
7,763
8,580
10,020
10,756
12,653
12,051
9,993
13,968
13,203
12,262
12,854
14,291
17,333
19,495
16,367
16,407
19,626
20,190
20,973
22,427
25,690
26,691
29,379
30,934
34,063
37,332
42,659
13^347
20,413
26,530
27,952
29,845
29,851
39,665
50,391
57,183
49,199
70,823
98,092
107,652
115,223
121,232
143,681
181,860
220,630
3,098
2,632
2,748
3,683
3,046
3,059
3,388
3,701
4,705
4,573
4,089
4,197
11 049
4,074
4 ,955
7,171
3,824
5,070
7,549
9,498
8,812
9,113
8,935
9,900
9,946
13,627
16,984
19,788
9,677
9,868
13,281
17,419
18,902
3,868
5,311
7,630
8,720
9,036
10,167
11,150
14,317
18,265
21,278
3,820
5,494
8,116
8,718
9,380
9,955
11,632
13,988
18,567
19,786
7,654
8,250
9,575
10,531
11,787
14,106
17,647
18,899
4,196
4 ',176
4 '316
4 ',47 3
4 ',558
6,042
8,446
9,043
6,420
8,426
9,831
9,846
11,044
13,288
15,843
18,828
19,551
6,585
8,687
9,246
9,779
9,364
12,906
16,700
19,217
6,879
8,978
9,426
9,609
9,486
13,460
16,938
18,715
6,949
8,865
9,280
10,457
11,001
13,299
16,753
19,251
9,698
12,291
15,754
19,086
19,031
9,118
612. GENERAL IMPORTS, TOTAL 2
( M I L L I O N S OF DOLLARS)
1948. . .
1949. . .
1950 . . .
IV Q
TOTAL FOR P E R I O D
950
908
889
1,233
1,028
1,154
1,056
1,235
1,586
1,605
1,354
1,528
1,661
1,669
1,898
1,964
3,179
2,316
2,300
2,469
III Q
AVERAGE FOR P E R I O D
1,125
977
813
1,233
1,012
1,026
1,067
1,215
1,454
1,617
1,365
1,432
1,660
1,695
1,709
1,912
2,095
2,329
2,460
2,566
2,950
3,366
2,608
2,855
3,318
2,410
1,069
976
821
1,234
970
1,011
1,076
1,223
1,412
1,617
1,361
1,397
1,711
1,698
1,750
1,839
2,118
II Q
1.021
1.016
1.066
1.191
EXPORTS, E X C L U D I N G M I L I T A R Y A I D S H I P M E N T S , T O T A L 2
( M I L L I O N S OF DOLLARS)
1,110
1,190
795
970
1,250
1,041
962
1,168
1,289
1,653
1,423
1,314
1,534
1,622
1,667
987
1965. . .
1966. . .
1967. . .
1974...
1975...
1976...
July
1.038
1.008
1.067
1.195
1.009
1.022
1.067
1.187
1.027
1.065
1.157
June
1.017
1.018
1.065
1.190
1.002
1.028
1.096
1.176
0.983
1963...
1964...
1965...
1966...
May
PERSONAL INCOME TO MONEY SUPPLY M 2 1
(RATIO)
0.981
1.023
1.074
1.168
1948...
1949.. .
1950...
1951...
1962. . .
Apr.
RATIO,
12^446
18,327
25,202
27,051
29,671
31,122
37,248
47,303
56,181
57,871
TOTAL FOR P E R I O D
526
587
592
939
856
904
855
886
1,045
1,057
1,053
1,166
589
567
606
927
881
902
852
897
1,063
1,056
1,022
1,202
582
548
577
997
904
923
762
907
1,034
1,118
1,051
1,220
510
534
606
1,005
870
998
945
902
1,019
1,100
1,051
1,218
590
548
636
986
839
931
848
939
1,040
1,060
1,066
1,330
620
523
684
967
882
913
935
928
1,069
1,058
1,037
1,301
610
515
787
940
846
899
847
953
1,063
1,111
1,023
1,227
626
487
821
885
897
910
851
952
1,065
1,099
1,046
1,289
1 245
596
565
955
838
620
572
912
800
555
602
876
845
677
594
891
812
1,697
1,702
1,720
1,605
1,832
1,567
1,852
1,769
7,124
2,863
2,958
2,663
2,457
10 ',967
968
818
992
1,132
1,074
1,083
1,411
1 210
818
805
1,045
1,055
1,086
1,091
1,184
1,197
873
821
1,045
969
1,065
1,156
1,292
1,162
2,729
2,469
2,690
2,842
2,728
2,769
2,777
2,528
2,500
3,142
3,231
3,126
3,128
3,218
3,154
3,588
3,849
3 ,891
3, 907
1,154
1,320
1,089
1,421
1,199
1,966
2,317
1,154
1,325
1,510
1,462
1,606
2,013
2,216
1,164
1,339
1,485
1,518
1,861
1,158
1,368
1,412
1,525
1,811
1,162
1,396
1,409
1,535
1,797
l',266
l',298
l',305
3,500
3,927
3,723
3,868
1,479
1,455
1,559
1,858
1,316
1,459
1,550
1,885
4,167
4,115
4,406
4,893
5,737
6,694
2,166
2,198
2,118
2,687
2,002
3,222
3,599
4,436
5,244
6,665
10,145
2,592
2,672
3,279
3,564
4,473
5,483
7,534
2,588
2,982
2,604
2,755
3,256
3,337
3,908
4,486
5,703
8,460
7,470
9,489
11,478
14,295
16,805
20,658
21,232
2,303
2,254
2,736
4,253
4,585
5,456
6,252
6,500
4,409
4,720
5,425
2,288
1,419
1,459
1,688
1,941
2,195
4,119
2,060
1,347
1,507
1,585
1,825
2,137
2,145
3,472
3,984
4,084
2,090
1,359
1,341
1,447
1,576
1,742
2,216
l',243
2,050
1,180
1,355
1,432
1,525
1,848
2,102
2,184
837
874
971
1,050
1,C80
1,139
1,353
1,142
1,326
1,380
1,488
1,655
1,911
2,196
10,873
10,215
11,384
12,615
12,982
12,792
15,207
15,018
14,714
16,390
17,138
18,684
21,364
25,542
26,812
33,226
26,043
39,952
45,563
55,583
69,476
103,321
99,305
124,614
151,534
176,052
210,285
245,262
9,341
10,694
13,661
16,813
21,181
22,616
8,133
9,302
12,990
14,617
14,919
21,834
21,916
3,219
3,629
4,515
5,414
7,997
7,720
9,742
12,792
14,320
15,657
24,866
21,029
3,183
3,262
3,774
4,417
5,360
8,237
8,218
9,940
12,127
14,773
16,061
19,831
22,249
2,792
2,152
3,265
4,037
4,468
5,775
8,870
2,245
2,725
3,074
3,254
3,822
4,565
5,829
2,872
3,163
3,346
3,913
4,726
6,010
7,311
9,214
8,110
8,166
10,578
13,676
14,226
17,201
20,427
22,005
11,028
12,654
14,896
17,116
19,189
20,114
10,738
12,530
14,412
18,659
19,719
23,242
9,504
2,198
2,951
3,078
3,423
4,179
4,612
5,644
9,002
8,388
10,972
13,158
15,246
18,632
19,934
21,274
3,192
3,180
3,498
3,469
4,738
5,996
9,026
8,533
10,810
12,996
15,091
19,271
20,327
3,428
3,456
'This series contains revisions beginning with 1948. 2 This series contains revisions beginning with 1974.
2,396
2,882
2,493
2,908
3,078
3,402
4,169
5,148
5,002
6,684
9,239
8,464
10,951
12,778
15,238
19,013
19,856
6,291
9,647
8,670
11,566
13,661
15,300
20,156
21,427
4,401
4,666
6,029
6,699
7,867
7,656
9,720
10,792
13,424
16,141
22,196
25,998
28,385
36,476
42,598
47,389
67,881
65,561
2,516
2,897
3,260
3,284
3,061
3,152
3,386
3,829
6,641
6,588
8,548
8,151
9,591
9,315
9,864
11,719
13,371
16,838
25,567
22,999
20,007
37,281
43,294
50,067
60,916
65,486
10,023
11,924
13,903
17,483
27,720
24,664
32,738
38,342
44,554
54,407
58,842
64,630
3,074
3,231
3,501
3,929
7,143
8,527
9,450
10,328
11,094
14,888
18,971
27,912
25,667
33,327
39,435
45,629
58,440
61,610
6,622
(MAY 1982)
101
C. Historical Data for Selected Series—Continued
Year
Jan.
Feb.
Apr.
Mar.
May
June
July
320. INDEX OF CONSUMER P R I C E S , ALL
(1967=100 )
1948. . .
1949...
1950...
1951. ..
1952...
1953...
1954. ..
1955. ..
1956. . .
1957...
1958. ..
1959...
1960...
1961. ..
1962...
1963. ..
1964. ..
1965...
1966.. .
1967. . .
1968...
1969. . .
1970. ..
1971...
1972...
1973. ..
1974. . .
1975...
1976...
1977. ..
1978. ..
1979...
1980. . .
1981...
1982. ..
Aug.
Sept.
Oct.
72.2
71.5
71.4
73.1
71.0
72.1
73.4
71.2
72.7
73.4
71.5
73.2
73.1
71.1
73.6
72.6
71.2
73.9
72.1
70.8
74.9
9.1
9.7
80.3
80.1
80.5
83.6
86.6
86.8
88.5
89.3
90.5
91.3
92.7
94.0
96.7
99.1
103.1
108 .7
115.2
120 .2
124.3
79.2
79.9
80.6
80.1
80.9
83.8
86.6
86.9
88.5
89.3
90.5
91.3
92.7
94.2
96.8
99.4
103.4
109.0
115.7
120 .8
124.7
79.4
80.2
80.7
80.1
81.4
84.3
86.7
87.3
88.7
89.4
90.5
91.7
92.9
94.7
97.1
99.7
104.0
109.7
116.3
121.5
125.0
80.0
80.4
80.7
80.4
82.0
84.7
86.8
87.5
88.7
89.8
90.7
92.1
93.1
94.8
97.4
100.2
104.5
110 .2
116 .7
121.8
125.5
80.1
80.6
80.6
80.2
81.9
84.8
86.7
87 .4
80.7
89.7
90.7
92.1
93.0
80.0
00 .7
80.4
80.5
82.0
84.9
86.7
87.7
88.8
89.9
91.2
92.1
93.2
80.1
80.9
80.2
80.5
82.5
84.9
86.7
88 .0
89.2
89.9
91.1
92.2
93.3
80.1
80 .6
80.3
80.6
82.5
85.2
86.8
88.0
89.3
89 .9
91.1
92.3
93.5
80.0
80.5
80.1
80.4
82.7
85.2
86.7
88.0
89.3
89.9
91.0
92.5
93.6
97.9
100 ,5
104.8
110.7
116 .9
122.1
125.7
98.1
100.7
105.1
111.2
117.5
122.2
126.2
98.5
101.0
105.7
111.6
118.1
122.4
98.5
101 .3
106.1
112.2
118 .5
122.6
143.1
157.8
143.9
158.6
145.5
159.3
146.9
160.6
148.0
162.3
149.9
162.8
151.7
163.6
164.6
177.1
188.4
178 .2
189.8
179.6
191.5
180.6
193.3
181.8
195.3
182.6
196.7
236.4
263.2
239.8
265.1
242.5
266.8
244.9
269.0
247 .6
271.3
247 .8
274.4
183.3
197.8
221.1
249 .4
27b.5
184.0
199.3
223.4
251.7
279 .3
184.5
200.9
225.4
253.9
279.9
70.4
71.2
70.3
70.2
71.4
70.6
1.2
1.5
0.7
79.3
79.8
80.7
80.1
80.3
82.8
85.7
86.8
87.9
89.3
89.9
91.1
92.6
93.6
95.4
98.6
102.0
106.7
113 .3
119.2
123.2
78.8
79.4
80.6
80.1
80.3
83.1
85.8
86.7
88.0
89.3
90.1
91.2
92.5
93.6
96.0
98.7
102.3
107.1
113.9
119.4
123.8
78.8
79.6
80.5
80.1
80.4
83.3
86.4
86.7
88.0
89.3
90.3
91.3
92.6
93.7
96.3
98.9
102.8
108.0
114.5
119.8
124.0
139.7
156.1
141.5
157.2
175.3
187.2
233.2
260.5
-0.1
-0.4
0.4
1.8
-0.1
-0.1
0.2
0.2
0.1
0.4
0.2
-0.1
0.1
0.1
0.3
0.1
-0.1
0.
0.6
0.1
0.4
0.4
0.5
0.2
0.4
0.7
1.2
0.5
0.
0.9
0.5
1.1
1.2
1.0
-0.7
-0.1
0.1
0.2
-0.2
0.1
-0.2
0.
0.1
0.2
0 .7
0.
0.
0.
0.2
0.1
0 .1
0.1
0.2
0.
0 .3
0.7
0.4
0.2
0.1
0.8
1.0
0.3
0.2
0.5
0.7
0.9
1.4
0.6
1.4
0.1
0.1
0.1
0.3
0.1
-0.2
0.
0.1
0.3
0.2
0.
0.5
-0.1
0.1
-0.1
0.1
0.3
0.4
0 .2
0.3
0.5
0.5
0.3
0 .2
0.7
0.6
0.3
0.2
0.7
0.8
1.0
0.9
0.4
0.8
-0.1
0.5
0.3
0.
0.1
0.3
-0.1
0.4
0 .2
0.
0.2
0.1
0.1
0.1
n .1
0.1
0.3
0.2
0.2
0.3
0.3
0.4
0.4
0.3
0.6
1.0
0.3
0/4
0.4
0.8
1.1
0.9
0 .8
0.6
0 .1
0.5
-0.2
0.2
0.3
0.
-0.2
0.4
0.4
-0.1
0.3
0.1
0.
-0.2
0.3
0.1
0.4
0.1
0.4
0 .4
0.6
0.3
0.5
0 .2
0.5
0.8
0.7
0.5
0.5
0.8
1.0
1.0
0.7
1.0
-0.9
0.7
-0.1
0 .6
0.
-0.3
0.1
0.5
0 .3
-0.1
0.1
-0.1
0.3
0.1
0.3
0.
0.
0.2
0.3
0.5
0.5
0.3
0.2
0.3
0.1
0.6
1.0
0.6
0.4
0.7
1.1
0.1
1.1
I Q
0.1
0.
0.6
-0.2
0.
0.2
0.
-0.1
0.1
0 .3
0.1
0.1
0 .1
0.
0.2
0.1
0.
-0.1
0.6
0.4
0.5
0.5
0.3
0.3
0.2
1.8
1.4
0.4
0.5
0 .4
0.7
1.1
0.7
0 .8
-0.3
0.2
0.6
0.6
-0.2
0.2
-0.2
0 .4
0.1
0 .1
0.
0.3
0.
0.1
0.5
-0.1
0.2
0 .2
0.2
0.3
0.3
0.5
0 .6
0.1
0 .4
0.4
1.2
0 .7
0.6
0 .4
0.9
1.1
1.0
1. 1
73.3
71.2
72.7
77.9
80.0
80.6
80.6
80.4
82.0
84.8
86.7
87.5
88.7
89.8
90.9
92.1
93.1
98.6
101 .6
106.4
112.9
119.1
123.1
95.9
98.7
102.4
107.3
113.9
119.5
123.7
96.9
99.4
103.5
109.1
115.7
120.8
124.7
97.8
100.5
104.8
110.7
117 .0
122.0
72.6
71.0
74.1
79.0
80.1
80.7
80.2
80.5
82.6
85.1
86.7
88.0
89.3
89.9
91.1
92.3
93.5
95.1
98.5
101.3
106.1
112.2
118.6
122.7
165.6
166.3
185.4
202 .0
227.5
256.2
280.7
186.1
202 .9
229.9
258.4
281.5
157.0
167.1
176.9
188.5
207 .0
262.9
159.5
169.2
180.7
193.4
214.1
245.0
269.0
162.9
171.9
183.3
197.9
221.1
249.6
276.7
165.5
173.8
185.3
201.9
227.6
256.2
280.7
Annual
72.1
71.4
72.1
77.8
79.5
80.1
80.5
80.2
81.4
84.3
86.6
87.3
88.7
89.6
90.6
91.7
92.9
94.5
97.2
100.0
104.2
109.8
116.3
121.3
125.3
133.1
147.7
161.2
170.5
181.5
195.4
217.4
246.8
272.4
2
-0.2
-0.4
0.6
0.6
0.2
0.2
-0.3
0.
0.6
0.
0.
0.3
0 .5
0.
-0.1
0.1
0.1
0 .1
0 .4
0.3
0.6
0.5
0.5
0.2
0 .3
0.8
1.0
0.7
0.5
0.4
0.9
1.1
1.1
0 .4
AVERAGE FOR PERIOD
-0.6
0.2
0.5
0.5
0.
-0.3
0.1
0.1
0.1
0.4
0 .1
0.
0.1
0.
0.1
0.2
0.2
0 .3
0.
0 .4
0.5
0.5
0.4
0.2
0 .4
0.9
0.9
0.7
0.4
0.7
0.7
1.2
1.1
0 .5
-0.5
-0.4
1.5
0.6
0 .1
0.
0.
0.
0.4
0.2
0 .1
0.1
0 .1
0.1
-0.1
0.3
0.1
0.4
0.1
0.3
0.3
0.6
0.5
0.4
0.3
0.8
0.9
0.6
0.5
0.5
0.6
1.2
1.0
0.4
0.1
-0.2
0.
1.2
-0.1
-0.1
0.1
0.1
0.
0.2
0.5
0.
0.
0.
0.2
0.1
0.1
0.1
0.3
0.
0.4
0.5
0.5
0.2
0.2
0.7
1.1
0.5
0.2
0.7
0.6
1.0
1.3
0.8
0.9
0.
0.4
0.1
0.2
0.2
0.
-0.1
0.3
0.3
0.
0.2
0.2
0.
0.
0.1
0.1
0.3
0.2
0.3
0.3
0.5
0.4
0.4
0.2
0.6
0.8
0.4
0.4
0.5
0.8
1.0
0.9
0.6
-3.7
-1.0
13.1
2.8
0.
0 .3
0.
0.3
3.8
4.0
0.4
1.1
1.5
1.3
0 .6
1.4
1.4
3.5
1.7
4.2
5.8
6.4
4.0
3.3
6 .1
12.0
9.0
5. 2
7.0
7.1
10.6
15.8
11.4
3.2
7.6
-2.1
1.0
10.4
1.4
0.2
0.2
0.1
1.3
3.4
3.8
0.8
1.4
0.3
1.5
1.0
1.2
1.9
3.8
1.7
4.1
5.5
6.2
3.6
3.1
7.4
11.7
6.5
3.8
7.3
8.4
11.7
15.0
9.4
6.8
-1.9
5.3
1.8
1.9
1.6
-0.8
-0.1
3.4
3.6
1.2
1.3
1.3
0.8
1.3
1.6
0.7
1.9
3.5
3.1
4.5
6.0
5.1
3.9
2.9
8.3
11.4
6.5
4.9
6.4
9.3
13.2
10.5
9.8
0.3
-0.2
0.6
0.1
0.1
0.1
-0.2
0.1
0.2
0.2
0.
0.2
0.
0.1
0.3
0.1
0.1
0.
0.3
0.3
0.4
0.5
0.4
0.2
0.3
0.8
1.1
0.7
0.6
0.4
0.8
1.1
0.6
1.0
-0.4
-0.2
0.9
0.6
0.1
0.
-0 1
0.
0 .4
0.2
0.1
0.1
0.2
0.
0.
0.2
0.1
0.3
0.2
0.3
0.5
0.5
0.5
0.3
0.3
0.8
0.9
0.7
0.5
0.5
0.7
1.2
1.1
0.4
0.2
-0.1
0.5
0.5
0.1
0.
0.
0.
0.2
0.2
0.2
0.1
0.1
0.
0.1
0.1
0.1
0.2
0.3
0.2
0.4
0.5
0.4
0.3
0.3
0.7
1.0
0.6
0.4
0.5
0.7
1.1
1.0
0.7
AVERAGE FOR PERIOD
8.3
-2.1
0.6
11.5
6.5
-0.9
6.2
-2.5
6.7
-1.8
7.5
-1.3
4.2
-2,2
1.3
-1.8
-1.0
-2.7
-3.3
-1.6
-4 .2
-0.8
7.8
4.2
0.2
-0.1
-0.6
0.5
0.2
0.6
0.
0.6
0.5
-0.2
1.1
-0.5
0.
1.9
-0.9
-0.6
1.1
2.0
1.9
-1.0
0.3
2 .0
1.6
2.1
-1.1
0.3
2.5
1.5
1.2
-1.3
0.7
4.1
1.3
0 .7
-1.4
1.0
4.2
-0.3
1.2
-0.9
0.5
4.4
-0.6
1.0
-0.4
1.1
3.3
4.5
0.6
1.4
0.5
1.7
0.7
1.4
1.7
4.0
1.3
4.2
5.6
3.5
3.7
0.6
1.5
0.3
1.7
0.7
1.2
1.8
3.9
1.7
4.0
5.1
3.5
3.2
1.1
1.4
0.1
1.2
1.5
0.9
2.3
3.4
2.1
4.2
5.9
3.8
1.8
0.9
1.3
0.7
1.3
1.7
0.5
2.0
3.6
1.7
1.2
1.3
0.6
1.1
1.7
0.8
1.8
3.4
0.2
1.9
1.4
1.0
1.6
1.4
0.9
2.0
2.6
-0.2
2.4
1.3
1.1
1.0
1.7
1.1
1.7
3.0
0.
2.2
1.5
1.0
1.0
1.9
1.4
1.7
2.5
0.3
1.9
1.5
1.2
1.2
1.8
1.5
1.6
2.4
4.4
6.1
3.1
4.5
6.2
3.6
3.1
6.9
11.5
7.6
4.3
7.3
8.0
10.8
15.5
10.0
3.6
3.3
7.4
11.8
6.2
3.7
7.4
8.2
11.6
15.0
' 9.3
3.6
2.8
7 .8
11.9
5.7
3.4
7.3
9.0
12.6
14.5
8.8
3.7
2.9
7.0
11.0
6.3
3.9
7.1
9.0
13.1
11.6
9.6
4.1
2.6
9.4
11.3
6.2
5.0
6.2
9.3
13.0
10.4
9.3
3.7
4.5
5.6
5.1
3.9
3.2
8.5
11.8
6.9
5.8
6.0
9.7
13.5
9.6
10.4
3.9
5.1
5.6
5.1
3.7
3.6
8.7
12.7
7.7
6.4
5.4
9.9
13.7
10.0
10.5
4.3
5.5
6.2
5.1
3.3
3.7
9.3
12.5
8.7
6.4
6.0
9.8
13.8
10.3
9.8
4.1
5.3
6.1
5 .4
3.2
4.0
9.9
12.6
8.5
6.5
5.9
9.2
14.2
10.3
9.1
3.2
0.8
1.6
1.9
0.7
1.4
1.6
1.6
1.8
3.0
4 .2
5.0
6.3
5.0
3.1
4.4
12.0
12.9
7 .2
6.4
6.4
9.7
14.8
11.8
7.2
2.9
0.4
1.7
1.7
1.1
1 .3
1.1
1.6
3.4
2.2
4.2
4.8
6.4
4 .9
3.3
5.3
10.7
11.0
6.3
7.1
6 .6
10.6
15.2
12.4
6.0
NOTE: Percent changes are centered within the spans: 1-month changes are placed on the 2d month and 6-month changes are placed on the
4th month. Quarterly and annual figures are averages of the centered changes.
'This series contains no revisions but is reprinted for the convenience of the user. 2 This series contains revisions beginning with 1967.
IV Q
71.7
71.5
71.0
77.6
79.2
79.9
80.5
80.1
80.9
83.9
86.6
87.0
88.6
89.3
90.5
91.4
92.8
8.1
-3.2
0.
12.0
102
III Q
70.5
71.5
70.5
76.8
79.0
79.6
80.6
80.1
80.3
83.1
86.0
86.7
88.0
89.3
90.1
91.2
92.6
320-C. CHANGE IN INDEX OF CONSUMER P R I C E S , ALL ITEMS, OVER 6-MONTH SPANS 2
(COMPOUND ANNUAL RATE, PERCENT)
1948 . . .
1949...
1950...
1951. . .
1952...
1953...
1954. . .
1955...
1956. . .
1957...
1958. ..
1959...
1960...
1961...
1962. . .
1963. . .
1964...
1965...
1966...
1967. . .
1968...
1969...
1970...
1971...
1972. . .
1973. . .
1974...
1975...
1976...
1977...
1978. . .
1979...
1980...
1981. ..
1982. . .
ll Q
AVERAGE FOR PERIOD
71.7
71.4
71.0
71.0
72.0
70.5
1.2
-0.1
-0.4
1.6
-0.1
-0.3
0.2
0.
-0.1
0 .1
0.6
0 .2
-0.1
0.
0.1
0.2
0.2
0.1
0.1
0.
0.4
0.4
0.5
0.2
0.2
0.5
1.0
0 .7
0.4
0.6
0.6
0.9
1.4
0.8
Dec.
ITEMS' §$
320-C. CHANGE IN I N D E X OF CONSUMER P R I C E S , ALL I T E M S , OVER 1-MONTH SPANS
(MONTHLY RATE, P E R C E N T )
1948...
1949. ..
1950
1951...
1952. . .
1953...
1954...
1955.. .
1956.. .
1957.. .
1958. ..
1959...
1960...
1961. ..
1962. . .
1963. . .
1964.. .
1965...
1966. . .
1967. . .
1968. ..
1969...
1970. . .
1971...
1972...
1973...
1974...
1975...
1976...
1977. ..
1978.. .
1979...
1980 . . .
1981 . . .
1982. ..
Nov.
1.5
-2.2
7.9
2.9
1.5
1.3
-1.3
0.7
3.8
2.7
0.
2.2
1.4
1.1
1.1
1.8
1.3
1.7
3.4
4.1
5.3
6.0
5.2
3.4
3.8
9.3
12.6
8.3
6.4
5.8
9.6
13.9
10.2
9.8
-3.7
-1.1
12.8
3.8
-0.3
0.8
-0.4
0.6
3.4
3.4
0.5
1.5
1.7
1.0
1.1
1.4
1.5
2.9
2.3
4.2
5.2
6.4
4.6
3.2
5.3
11.6
11.0
6.2
6.8
6.7
10.3
15.3
11.9
5.5
3.0
-1.8
6.8
4.7
1.1
1.0
-0.6
0.3
3.0
3.3
1.4
1.4
1.5
0.8
1.3
1.4
1.2
2.1
3.2
3.3
4.8
6.0
5.3
3.5
3.8
9.1
11.7
6.9
5.5
6.6
9.4
13.5
11.9
8.6
(MAY 1982)
C. Historical Data for Selected Series—Continued
Year
Jan.
Feb.
Mar.
Apr.
32V!.
May
June
1948. . .
1949, . .
1950...
1951. . .
1952. . .
1953...
1 9 5 4 ...
1955. . .
1956.. .
76.5
74.6
71.4
80.9
84.8
83.4
83.5
81.6
80.7
76.0
74.2
72.4
83.7
84.0
83.0
83.6
82.2
80,6
74.3
74.2
72.3
83.2
83.7
83.0
83.3
82.3
80.8
76,2
74 .3
72.3
82.8
84, 3
82.5
83.2
82.3
81.1
77 , 2
74.0
72.9
83.0
84,2
82,6
83.3
81.8
81.7
77.7
74.2
73.7
1958. . .
1959...
87*.4
87.9
87.8
87,4
89.5
87 .0
89.8
86.7
1961 . , .
1962. . .
1963. . .
89,4
89.2
91.1
89.5
89.6
91.2
89,4
89.9
91.0
1965...
1966. . .
1967. . .
1968. . .
1969...
1970
1971. ..
92.7
96.8
99.7
101,6
106.1
113,8
115.8
98,3
99.3
102.0
105.9
114,2
116,0
1973. ..
1974. . .
1975...
1976.
1977
1978. . .
1979. . .
1980
1981. . .
1982. ..
129.0
154.2
172.0
181.8
184,2
200.0
244.5
269.3
I .3
-0.3
-0.8
2.4
-0.1
-0.7
0.7
-0.1
-0.4
-0.1
2.0
0.2
-0.1
-0.2
0.5
1 .1
0.2
-0.4
0.6
-0. 2
0.2
0.3
0.4
-0.3
-0.4
1.6
1 .2
0 .6
-0.6
0 .1
1.0
1.5
0.4
0.4
Aug.
t Q
92.7
98.1
99.4
102.0
106.1
114.1
116,2
94.3
99.0
99.1
103.0
107.7
114.8
118.3
148.8
166.6
180.3
150.9
168 ,8
181,5
152. 3
170.9
182.9
131.4
156.9
171.7
138.3
159.7
171.6
145.1
161.7
177.2
150.7
168.8
181,6
141 , 4
161,7
175.4
194.8
215,9
195,4
218.1
197.2
219.6
198.1
221.3
186.7
202,0
191.8
210.2
193.8
214.6
196,9
219.7
261,5
27B.3
263.7
279,0
266 .6
279 .3
268 .2
279 .5
245,4
270.7
250,2
272.7
257.7
276.6
266.2
279.3
192.2
211.4
234.5
254.6
274.6
87*7
86.9
88.7
89.6
91.1
89.0
89.3
91,5
88 .8
89.7
88.8
90.7
fey .0
90.5
8U.8
90 .7
94.1
98.9
99.0
103,2
107.5
115.0
118,3
95,6
98.8
99.6
103.1
1,08.6
114.9
118.9
95. 5
98.4
100.0
103.4
109.1
114,9
118 .9
95.0
99.8
100.5
103.9
109.8
115.0
119.1
94.9
10 O . I
100.5
104.5
110.6
115.7
119.0
9S.3
100.4
100,9
105.5
111.0
116.0
119.5
136.5
158.7
170.7
178.2
190.8
207 .3
138.5
160.2
171. 1
178.9
191.6
210 .2
139.9
160.1
173,0
179,4
192.9
213.2
139.5
159.0
176.4
180,1
192.8
213.5
148.1
161.5
176.8
181.3
193.9
214.4
147.8
164.7
178.4
248.6
272.3
250,4
272,6
251,7
273,2
253.7
275.0
257.8
276.5
244.9
271,0
246.9
271,7
2,6
0.1
0.
-0.5
0.7
-0,6
-0.1
0.
0.4
0.1
0.3
-0.3
1.4
-0.2
0.1
-0.4
0.
0 .4
0. 1
-0.3
0.5
0 .8
0.4
0 .b
0 ,2
1.8
0.
-0.5
-0.1
1.4
1.6
0.8
0.7
0.2
87,0
OP C O N S U M E R P R I C E S , FOOD, OVER 1-MONTH S P A N S 1
(MONTHLY RATE, P E R C E N T )
1.3
-0.4
0.8
0.2
-0,1
0.1
0. 1
-0.6
0 .7
0.2
-0.4
-0.2
0.
-0.2
-0.1
0 .2
0,
0.9
-0.3
0.2
0.4
0.5
0. 3
0 .5
0 .2
1 .5
0.9
0.2
0 .4
0.4
1 .4
1,0
0.7
0 .1
0,6
0.3
1.1
-0.8
-0.2
0 .8
-0.1
-0.6
1.0
0.7
-0.6
0.6
0.
-0.3
-0.3
0,3
0.2
1 .6
-0.1
0.6
-0.1
1.0
-0,1
0.5
0.2
1.0
-0.1
1.1
0.3
0.7
1,4
0.3
0 .5
0 .2
-0.4
0.1
0.7
-0.4
0.2
0.5
-0.2
-0.4
-1.0
1,1
-0.1
-0.1
0.3
-0.2
0,4
0.1
-0.1
-0.5
1.4
0 .5
0 .5
0,6
0 .1
0.2
0 .4
6.2
1.6
0.2
0.7
0 .6
0.4
-0,1
1.6
0.5
0.6
-1.9
1.9
-0.4
0.8
-0.7
0.1
0.1
1.1
0.7
-0.4
-0.1
-0.3
0.3
-0.3
0.4
0 .1
-0,1
-0.4
0.4
0 .3
0.5
0,
0.
0.2
-0. j
-0.'
2.0
0,4
-0.1
0.1
0.3
0.8
0.7
-0.8
0.8
0.1
0.4
-0,7
0.2
-1.0
0.7
0,2
-0.6
-0.3
0.2
0 .1
0.
1,1
-0.4
0.7
-0,1
0 .3
0.
0.6
0.7
0 .6
-0.1
0 .8
-0.2
2.0
0 .9
0.7
0.5
0.7
0.9
1.4
0.7
AVERAGE
-0.8
-1.0
0.9
1.6
0. 1
0.1
-0.4
-0.4
0.4
-0.2
-0.2
0.1
0 .9
0 .2
-0.2
-0.1
0.
0 .4
0.3
0 ,4
1.0
0.4
0.3
0.4
0.6
0."
l.i
I . Ic
o.
O.L
l.C
o.s
0 ,£
o.:
-1.8
0,1
0.3
0.8
0.
-1.2
-0.1
-0 . 5
0.4
0.
0.2
-0.1
0.4
-0.2
0.2
0.4
0 .3
0.3
-0.2
0.2
0.
1.0
-0.1
0.4
0.7
1.4
1.3
0.7
-0.1
0 .9
0.7
0.6
1.1
0 .1
-0.7
-1.2
3.1
1.1
-0.5
0,6
-0.2
0.
0.1
0.1
-0.5
-0.1
0.2
0.
-0.7
0.3
0.
0.6
-0.3
0.3
0.3
1 ,2
0.2
1.0
0.6
0 .9
1. 2
0 .8
0 .4
0.5
0.8
1.0
0,6
0. i
-0.5
-0.3
0.2
1.8
-0.5
-0.4
0.1
0.2
-0.1
0.2
1.5
-0.3
0.
-0.1
0.4
0.3
0.1
-0.1
1.0
-0.3
0.3
0.1
0.3
0.2
0.2
1.8
1.4
0.1
-0.9
0,7
1.0
1.3
0,5
0.4
1.5
0.
0.6
~0.4
0.1
0.1
0.
-0.4
0,7
0.3
-0,2
0.
0.5
-0.2
-0.1
0.
0,1
1,0
-0.1
0.2
0.3
0.8
0.2
0.6
0.2
1.4
0.3
0,3
0.2
0,8
1.5
0,7
0.6
0.2
-9,3
-1.4
22 .6
5.7
-4.4
1,2
-2.2
-1.2
3.9
3 .5
-2.2
-O.i
-7.9
-3.2
20 .8
4 ,2
-3. 1
0.
0.
-2.2
2.7
8 .8
0,0
-3,7
1.1
5.9
-3.4
9.7
14.5
0.3
-3.5
0.8
-0,2
1.6
2.4
8.9
-2.6
2.5
-0.8
2.2
0.9
1.3
2.9
7.0
-2.1
3.8
4.0
4.8
4.0
4,0
20,0
12.3
3.4
-3.0
9.1
14.0
13.2
7.5
5.0
-1.6
1.1
-0.3
-1.4
-1.6
5.6
4.9
0.3
-1.2
2.9
-1.3
0,7
0.7
0.9
5.3
2,8
1.9
3.9
7.2
2.0
4.9
3.6
22.0
6.3
6.5
1.6
7.8
12.9
7.6
10.2
4,4
2
3 2 2 - C . C H A N G E IN I N D E X OF CONSUMER P R I C E S , FOOD, OVER 6-MONTH SPANS
(COMPOUND A NNUAL RATE, P E R C E N T )
1948 . . .
1949. . .
1950, . .
1951. ..
1952. . .
1953. , .
1954. , .
1955. . .
1956. . .
1957, ..
1958. . .
1959...
1960. . .
1961. . .
1962. . .
1963. . .
1964. ..
8 .7
-6.2
-1.4
17.5
2.4
-4.5
-0.5
0.7
-0,7
2.2
10.1
-2.7
2.3
0 .4
2,3
0.2
2.0
9.4
-3.4
0.
17.4
0 .5
-4,2
2.2
-0.2
1.7
1.9
9.1
-3,6
2.5
-0.9
2,5
0 .2
1. 1
5.9
-1.6
4 .0
1966. . .
1967...
1968. , .
1969...
1970...
1971...
1972. ..
197 3 . . .
1974, . .
1975. ..
1976. .,
1977
1978. . ,
1979. . .
1980. . .
1981...
1982, . .
8*4
-3.2
3.8
2.9
7.0
-2,4
4.2
3.8
5.2
4.2
4.4
20.3
1,2.7
2.7
-2.8
9.3
13.6
13.7
7.9
4.6
5 ,5
-0.6
3.4
5.4
2.7
4 .9
2.8
21.3
10 .5
2.5
-3.8
9.9
15.8
12.7
6.8
3.8
4,"
18.5
13, '
5.f
-2.3
8 .:
12, f
13.1
7."
S3 ,5
-2.1
-1.7
0.7
-1.0
3.7
3.1
7.6
-1.6
2 .8
-2.0
1 .8
2. .2
0.9
4.5
-4.8
lO.f
2.
-0.
-1 .
-0 .
-0.
6.
4.
2.
-2 .
2."
-0.9
O.i
0 .<0,7
5.1
-3.5
9.0
-4.7
2.2
0.2
-1.2
-2 .7
5.0
5.1
1.4
-1.4
3.
O.f
3,f
5 . "?
I , 1)
5. 1
4. 2
16. <)
6. 5
5. >
-1 .<)
3.1
2.4
3.8
9. j
14 .()
9 . ?*
7. 7
4. }
3.3
-1.6
0.2
0 .9
0.4
7.5
1.4
5.4
2,3
27.6
4.9
6.0
2.0
6.8
12.7
6.3
10.8
4.1
8 .2
-1.9
9,6
-2.9
1.4
0.7
-2.4
-1.5
5 .0
4.6
-3.1
0,
3.0
-1.3
L.8
0.4
1.7
2.0
2.8
4.3
8.5
2.6
3.8
4.3
21,5
7 ,7
8.2
4.8
7. 1
12.0
6.6
12.2
4 .9
-4.9
-3.0
10 .4
2 .4
0.5
-0.5
-3.3
-1,9
4.2
3.4
-2.9
1.2
3 .0
-0.4
1,8
1.3
-4 .(
11."
1 .1
o.;
2.;c
-2 ,
-2.;
5.C
3.6
-4 . :
0.
2.J
-Q.<:
1. L
1. L
1.-
1.5
2,4
2,4
2.6
4,3
4,5
8,7
1.6
2,<3
6.1
18."
11. f
12. c
5.C
5.9
9.1
6.C
13.4
5.f
4. 3
5. J
7,5
2. >
3. L
5. L
18. 3
10. 2
11, S
5. )
4.}
10, ?
6. j
12. 3
5. )
76.6
73.5
74.5
82.8
84,3
83.0
82.8
81.6
82.2
84 .9
88.5
87.1
88.0
89.1
89.9
91.2
92,4
94.4
99.1
100 .0
103.6
108.9
114.9
118.4
96.2
99,9
101.4
105.8
113,4
116. 1
121.2
eaa
134.1
158.7
171.5
178,3
188,2
204,0
75.6
72.6
77.3
84.1
84.3
82.9
81.9
81.1
83.3
85.6
87,9
87.0
89.3
88.9
90.4
91.5
93.0
95.7
100.2
101 .1
105.6
112.2
116.0
120.2
95.6
100.2
101.1
105,5
112.1
115.9
120 .0
87.9
87.1
131.1
157.7
171. 7
179.5
187.6
202.0
FOR PERIOD
88.8
90.1
91.8
38 .1
87.0
93.3
99 . 2
98.8
102.8
107.0
114.6
117.7
77,0
74,2
Annual
73.0
82.7
84.2
8 2. B
83.2
81.8
81.8
84.3
89.4
86,7
88.1
89.0
89. 8
90.8
88.4
86.8
99.1
99.1
102,3
106.2
114.2
116.8
75,6
74.3
IV Q
72.0
82.6
84.2
83.1
83.5
82.0
80.7
83.8
88.2
87,4
86.8
89.4
89.6
91.1
88,5
86.9
89.0
89.9
90. B
ill Q
77.8
73.1
75.5
8.1.9
84 ,6
83.0
82.9
81.4
82.9
85,8
88.3
86.9
88.0
88.9
89,9
91,4
92.4
95.1
99.4
100.3
103.9
109,8
115.2
119.0
81.7
84.9
83.1
83.1
81,1
82.6
89.2
90.0
90.6
il Q
AVERAGE
77.9
72.9
75.6
74.8
72.0
79.0
84.9
84.0
82.9
81.7
81.0
83.5
88.9
87 ,0
0.2
0.6
Dec,
75.3
72,9
76.6
84.0
84.4
82.4
81.9
81,0
83,4
89.4
86.5
-2.2
0.
-0.1
-0.6
-0.4
0,
-0,4
0,1
0.2
-0.4
1.9
-0.5
0,2
-0,1
0.3
-0.2
0.
0.4
0.8
-0.2
0 .3
0.3
0.
0.7
-0.2
2.3
0.6
-0.1
-0.7
0.3
1.0
0.7
0.8
0.3
Nov.
Oct.
76.7
72.8
76.4
83.3
84.4
83.4
82.0
81.4
83.1
82.3
84.0
83.3
83.2
81.3
82.5
-0.7
-0.5
1.4
3.5
-0.9
-0,5
0.1
0.7
-0.1
1.0
0.5
-0.6
-0. 1
0.1
0.4
0 .1
0.
-0.2
1.5
-0.4
0 ,4
-0.2
0 ,4
0.2
1. 3
1.6
2. 3
-0.2
-1.3
1,8
1.0
Sept.
77,3
73.5
75.7
82.0
34.3
8 3 ,3
82.3
81.7
82.8
78,2
72.0
75,1
82.0
84.7
82.7
83.3
81.4
83.4
3 2 2 - C , CHANGE IN I N D E X
1948. . .
1949 . . .
1950. , .
1951. . .
1952...
1953. ,,
1954. . .
1955. ..
1956. . .
1957...
1958. ..
1959. ..
1960. ..
1961. . .
1962, . .
1963,. .
1964. . .
1965. . ,
1966, . .
1967...
1968. ..
1969. . .
1970,.,
1971. ..
1972. ..
1973, . .
1974, . .
1975, . .
1976, . .
1977, . .
1970
1979, . .
1980. . ,
1981. . ,
1982, ,,
July
f N D E X OF 'ONSOMFH P R I C E S . FOOD '
{ 1967=100}
-7.3
-5.8
14.9
6 .4
0,
-1.0
-3.6
-0.7
2.4
2.1
-2.7
-0 . 2
3.4
0 ,2
1.1
1.5
2.0
2.2
3.6
5,3
9.0
2.1
3.9
6.8
18,5
13,9
11.8
5,2
5.5
7 .5
13.5
4.7
FOR P E R I O D
-0,2
-0.3
0.9
-0.1
0.1
0,
-0.4
0.1
0.1
0.4
-0.3
0.
0.
0,
0.4
0.
0.2
-0.2
0,4
0.3
0.5
0.6
0.2
0.
0.5
1.9
1.0
1.0
0.6
0.3
0.4
0.4
1.3
0.6
-1.1
-0.7
1.4
1 .2
-0.1
-0.2
-0.2
-0.3
0.3
0,
-0.2
0.
0.5
0.
-0.2
0.2
0,1
0.4
-0.1
0,3
0,4
0.9
0.1
0,6
0.6
1.0
1.2
0.9
0.3
0.6
0.8
0 .8
0,8
0.2
-0.1
-0.3
0 .8
0.6
-0,1
-0.1
-0.1
-0.1
0.2
0.2
0.2
-0.1
0.2
-0.1
0.1
0.2
0.1
0.3
0.3
0.1
0.4
0.6
0.2
0.4
0.4
1.5
1.0
0.6
0.
0.6
0.9
0.8
0.8
0.4
AVERAGE FOR P E R I O D
-9,0
-3.F
16. f
6,c
~3.C
1.5
-4.f
-1 .'
0,
4."
-1 .<<
-0. I
3.
-0 . i.
3 .i
2 ,7
0 .^
4.L
1. L
0. )
3.4
0.5
0.7
0 .7
2.7
3. 1
5, 3
8. j
1. ?
-1.0
3 ,C
3.S
g ,i
1."
3.
9.
22. 2
17. )
6. 2
'->
4,i
7.D
1,0, 3
7.7
12. 7
4. 3
2.5
12.:
13."
13. C
3 .J
7. j
8. r
1 3. <
8.i
10. f
4 . <)
1.8
0.2
-2.0
3.6
3.
6.6
1.9
5,
15.6
15.
8.
-0,
6,
9.
13.
8.
8.
2.
-3.6
-4, 3
12.3
3.3
0.2
0.2
-3.3
-1.6
3.9
3.1
-3,3
0.6
2.8
-0.2
1.3
1.4
2.0
2.9
2^4
4.1
5.0
8.4
2, 1
3,3
6.0
18.7
11,7
1.2.0
5.4
5.4
9,2
6.8
13.1
4.9
-8.7
-2.8
19.8
5.6
-3,5
1.0
-2.1
-1.7
2.2
5.7
-2.0
-0.2
3,2
1,6
2.7
1 .3
0,6
6,3
3^3
4.2
7.9
.7
,6
1 .5
1 .0
1 .8
3.1
6.0
8.6
12.6
8.0
10 .4
4.2
0.4
-3.5
10.8
5,4
-0.5
-0.6
-1.5
-1.3
3,3
4.0
1.0
-0.9
2.9
-0.2
1.8
1.1
1.2
4.4
3.0
1.8
4.2
6.9
2.6
4.2
6 .5
19.4
10 .8
6.2
2.5
7.8
12.2
8.9
10.3
4.6
(MAY 1982}
Quarterly and annual figures are averages of the centered changes.
>r1es contains revisions b e g i n n i n g w i t h 1967. 2 T h i s series contains
!
isions beginning with 1966.
103
C. Historical Data for Selected Series—Continued
Year
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
330. INDEX OF PRODUCER PRICES, ALL COMMODITIES
(1967=100)
1948...
1949. . .
1950. . .
1951...
1952...
1953 ...
1954...
1955...
1956. . .
1957...
1958...
1959...
1960...
1961...
1962...
1963 . . .
1964...
1965...
1966. . .
1967...
1968. . .
1969. . .
1970. . .
1971 ...
1972...
1973...
1974...
1975...
1976. ..
1977...
1978...
1979...
1980...
1981...
1982...
82.9
81.6
77.6
91.2
89.7
87.2
88.0
87.4
88.8
92.7
94.3
94,8
94.7
95.2
95.0
94.7
95.2
95.2
98.6
100.1
101.1
104.3
109.3
111.8
116.3
124.5
146.6
171.8
179.4
188.1
200.1
220.8
254.9
284.8
81.3
80.3
78.0
92.5
89.3
87.0
87.7
87.7
89.2
92.8
94.4
94.8
94.7
95.2
94.9
94.4
94.7
95.4
99.3
99.9
101.9
104.8
109.7
112.8
117.3
126.9
149.5
171.3
179.4
190.2
202.1
224.1
260.2
287.6
81.3
80.1
78 .1
92.5
89.2
87.3
87.7
87.3
89.5
92.7
95.0
94.9
95.2
95.2
94.9
94.2
94.6
95.5
99.3
99.6
102.1
105.4
109.9
113.1
117,4
129,8
151,4
170.4
179.7
192.0
203.7
226.7
261.9
290.3
82.0
79.3
78.1
92.3
88.7
86 . 8
88.1
87.7
90.2
93.0
94.7
95.2
95.2
94.7
94.6
94.0
94.5
95.9
99.4
99.2
102.1
105.5
110.0
113 .4
117.5
130.5
152.7
172.1
181.3
194.3
206.5
230.0
262.8
293.4
82.4
78.6
79. 1
92.0
88.6
87.2
88.0
87.2
90.8
92.9
94.8
95.2
95.0
94.3
94.4
94.3
94.3
96.2
99.5
99.7
102.4
106.3
110.0
113.9
118 .2
133.2
155.0
173.2
181.9
195.2
208.0
232.0
264.2
294.1
83.0
77.9
79.5
91.3
88.2
86.9
87,3
87.6
90.7
93.2
94.6
95.0
94.8
93.8
94.3
94.5
94.3
96.9
99.6
100.2
102.5
106.8
110.4
114.4
118.8
136.0
155.7
173.7
183.2
194.5
209.6
233.5
265.6
294.8
83.7
77.8
81.7
90.7
88.7
88 . 0
87.7
87.7
90.5
93.8
94.6
94.8
95.0
94.2
94.6
94,8
94.6
97.0
100.3
100.3
102.8
107 .0
110.9
114.7
119.7
134.3
161.7
175.7
184.4
194.8
210.7
236.9
270.4
296.2
Sept.
<§>
Oct.
1.8
-1.2
0.
2.5
-0.4
0.2
0,7
0.6
0.6
0.4
0.2
0.2
0.4
0.4
0.4
0.1
0.7
0.3
0.5
0.3
0.3
0.7
0.6
0.7
0.6
1.3
3.4
0.2
0.4
0.5
1.0
1.5
2.1
1.4
-1.9
-1.6
0.5
1.4
-0.4
-0.2
-0.3
0.3
0.5
0.1
0.1
0.
0.
0.
-0.1
-0.3
-0.5
0.2
0.7
-0.2
0.8
0.5
0.4
0.9
0.9
1.9
2.0
-0.3
0.
1.1
1.0
1.5
2.1
1.0
0.
-0.2
0.1
0.
-0.1
0.3
0.
-0.5
0.3
-0.1
0.6
0.1
0.5
0.
0.
-0.2
-0.1
0.1
0.
-0.3
0.2
0.6
0.2
0.3
0.1
2.3
1.3
-0.5
0.2
0.9
0.8
1.2
0.7
0.9
7.5
-9.4
1.0
16.5
-3.3
-3.1
1.4
1.4
3.6
2.9
2.6
1.7
1.5
-0.4
0.6
-1.7
-0.4
1.9
4.6
-1.8
4.0
5.1
4.9
4.6
5.3
18.3
21.2
2.2
2.7
9.9
10.7
14.5
14.5
11.5
6.4
-10.5
3.6
12. &
-3.5
-1.4
1.8
-0.2
6.0
2.0
2.4
1.3
1.5
-1.3
0.2
-1.3
-1.3
2.8
4.1
-0.2
4.6
5.9
3.5
5.5
6.4
21.8
24.0
1.5
4.2
10.6
11.4
15.7
14.2
11.0
4.0
-11.1
5.0
5.2
-4.2
-0.2
-0.2
1.6
5.5
2.0
1.1
0.8
1.1
-2.1
-0.6
-0.2
-0.4
4.3
3.1
0.8
3.4
6.3
3.3
6.2
5.6
22.5
20.6
2.6
5.1
8.1
11.8
15.3
13.1
10.2
BQ'.B
9o!2
87*.7
9l!l
8s!6
87^8
87.5
90.6
93.0
94.7
95.1
95.0
94.3
94.4
87.6
88.1
91.1
93.8
94.5
94.8
94.7
94.3
94.9
87.1
88.4
92.0
93.8
94,5
94.4
94.9
94.4
94.8
87]6
94.4
96.3
99.5
99.7
102.3
106.2
110.1
113.9
118.2
133.2
154.5
173,0
182.1
194.7
208.0
231.8
264.2
294.1
94.7
97.0
100.6
100.1
102.7
107.0
110.8
114.8
119.9
138.7
165.4
176.7
184.3
194.9
211.2
239.1
272.9
296.1
94.9
97.6
99.9
100.3
103.3
108.0
110.9
114 . 9
121.2
139.9
171.2
178.6
186.0
197.2
216.0
247.5
279.2
94.7
96.6
99.8
100.0
102.5
106.5
110.4
113.9
119.1
134.7
160.1
174.9
183.0
194.2
209.3
235.6
268.8
91.9
88.5
87.7
88.0
91.0
94.0
94.5
94.5
94.6
94.3
94.7
94.6
94.5
97.0
100.7
100.0
102.5
106.9
110 .4
115.1
119.9
142.1
167.4
176,7
183.8
194.6
210.6
238,3
273.8
296.4
87.3
88.7
91.7
93.7
94.5
95.0
94.6
94.3
95.4
87.1
88.6
91.7
93.5
94.4
94.5
94.9
94,3
94.8
87.3
88.2
92.0
93.7
94.6
94.3
94.9
94.3
94.9
86.9
88.3
92.3
94.1
94.6
94.3
94.8
94.6
94.6
8l'.8
87.5
89.2
92.7
94.6
94.8
94.9
95.2
94.9
94.9
97.1
100.7
100.1
102.9
107.1
111.0
95.0
97.2
100.1
100,1
102.9
107 .4
110.9
94.9
97.5
99,8
100,1
103.3
108 .1
110.9
94.9
98.1
99.8
100.8
103.6
108 .6
111.0
120.2
139.7
167.2
177.7
184.8
195.3
212.4
242.0
274.6
295.7
120.0
138.7
170.2
178.9
185.3
196.3
214.9
245.6
277.8
12o!?
139!2
171.9
178.2
185.6
197.1
215.7
247 .2
279.1
12 2*. 9
141.8
171.5
178.7
187.1
198.2
217.5
249.7
280.8
94.8
95.4
99.1
99.9
101.7
104.8
109.6
112.6
117.0
127.1
149.2
171.2
179.5
190.1
202.0
223.9
259.0
287.6
-0.1
0.1
1.8
-0,2
-0.4
0.5
-0.5
1.1
0.2
0.2
0.5
0.1
-0.2
3.2
-4,0
19.8
-4,5
-1.1
1.6
-2.3
2.1
3.4
1.1
-0.6
-1.5
-0.6
-0.8
0.4
1.5
1.1
2.7
1.4
1.8
1.6
3.6
1.6
1.9
4.3
13.0
24.2
8.1
4.5
2.1
8.3
14.0
11.7
82.8
78.7
92.1
89.4
0.7
0.1
2.2
-0.6
0.5
-0.3
0.
0.3
0.6
0.2
-0.1
-0.3
-0.4
0.1
0.1
-0.2
-0.1
0.
0.4
-0.3
-0.3
-0.1
-0.5
0.3
0.2
5.8
3.5
0 .6
-0.3
-0.1
0.
0.6
7.3
-5.2
18.5
-5.3
-1.1
1.8
-0.9
3.2
5.0
2.2
-1.0
0.2
-1.3
-1.9
1.1
0,6
0.6
3.4
2.8
1.0
1.6
3.3
2.0
2.7
4.8
15.8
22.0
8.8
5.8
3.5
8.7
14.0
9.9
3.8
83.0
77.7
90'3
90.1
87,0
0.8
-0.1
2.8
-0.7
0.6
1.3
0.5
0.1
-0.2
0.6
0.
-0.2
0.2
0.4
0.3
0,3
0.3
0.1
0.7
0.1
0.3
0.2
0.5
0.3
0.8
-1.3
3,9
1.2
0.7
0.2
0.5
1.5
o.a
0.8
-0.3
0.
0.5
0.
0.
0.7
-0.1
0.4
0.1
0.
0,1
0.4
0.2
0.5
-0.4
0.3
-1.7
-0.1
0.6
0.5
0.4
0.9
1.6
<§>
-0.6
-0.1
2.7
-0.1
-0.9
0.2
-0.5
0.1
0.3
0 .4
0.
0.
-0.1
0.3
-0.3
-0.4
0.
0.6
0.
0.7
0.3
0,5
0.1
0.9
1.8
1.9
-0.2
0.3
0,8
0.6
0.8
1.0
0.
-1.0
0.2
1.3
-0.3
0.1
0.1
0.1
0.5
0.1
0.3
0.1
0.3
0.1
0.1
-0.1
0.
0.2
0.4
-0.1
0.4
0.6
0.4
0.6
0,5
1.8
2.2
-0.2
0.2
0.8
0.9
1.4
1.6
1.1
0.7
-0.9
0.6
-0.4
-0.4
-0.1
-0.1
0.1
0.5
0.2
-0.1
0.
-0.1
-0.5
-0.2
0.1
-0.1
0.5
0.1
0.2
0.1
0.5
0.2
0.4
0.4
1.6
1.0
0.6
0.6
0.4
1.0
1.0
0.4
0.5
6.0
-10.3
3.2
11.4
-3.7
-1.6
1.0
0.9
5,0
2.3
2.0
1.3
1.4
-1.3
0.1
-1.1
-0.7
3.0
3.9
-0.4
4.0
5.8
3.9
5.4
5.8
20.9
21.9
2.1
4.0
9.5
11.3
15.2
13.9
10.9
5.6
-6,7
14.6
-3.8
-1.2
1.7
-0.5
1.5
4.3
2.4
-0.1
-0.1
-0.3
-2.0
• 0.
0.4
-0.4
3.5
3,0
0,5
2.1
4.2
2.1
4.0
5.1
19.2
23.0
6.6
5.5
5.2
9.4
14.1
11.0
6.1
104
0.5
0,
2.3
-0.5
0.2
0.5
0.
0.4
0.4
0.2
0.
0.
-0.1
0.2
0.4
0.
0.2
0.1
0.4
0.
0.1
0.1
0,2
0,1
0.4
0.9
2.4
0.8
0.3
0.2
0.5
1.2
1.1
0.1
-0.6
-0.2
1.6
0.
-0.7
-0.3
-0.2
-0.2
0.2
0,1
0.
-0.2
0.1
0.1
-0.3
0.
0.
0.3
-0.3
0.2
0.2
0.5
0.
0.3
0.7
0.5
0.9
0.2
0.4
0.5
0.8
1.1
0.1
-0.5
1.2
0.1
-0.3
0.
0.
0.1
0.4
0.2
0.
0.
0.
0.
0.
0.
0.
0 .3
0.1
0.1
0.2
0.4
0.2
0.3
0.5
1.2
1.6
0.4
0.4
0.5
0.8
1.2
"
*
-7.9
0.
21.9
-2,0
-3,7
-0.3
-0.2
2.3
3.7
1.6
0.6
0.2
1.0
1.4
-1.0
0.4
1.5
4.2
-1.4
3.1
4.1
5.0
3.3
3.9
12.3
15.8
7.2
3.2
6.4
7.4
12.3
17.4
11.0
1.2
-4.8
15.4
0.5
-2,6
0.2
-0.3
1.7
4.1
2.0
0.6
-0.1
0.4
-0.4
-0.1
0.2
0.4
3.4
1.6
1.1
3.0
4.6
2.7
3.8
7,1
16.5
18.7
4.6
5,0
6.2
10.2
15.1
11.9
®
AVERAGE FOR PERIOD
-1.0
-0.8
25.3
-2.6
-2.7
1.2
-0.9
1.6
3.6
1.9
0.
-1.5
0.
1.7
0.6
0.
1.3
2.5
0.4
-5.0
-0.5
24.6
-2.2
-3.4
0.
-0.7
2.5
4.9
1.1
0.4
-0.2
0.4
1.7
0.2
0,8
1.3
3.3
-0.4
-9.3
0.3
22.7
-2.0
-4.7
0.
0.
2.7
4.0
0.9
0.6
0.4
1.3
1.3
-0.6
0.2
1.9
4 .8
-1.6
-9.5
0.3
18.4
-1.8
-3.1
-0.9
0.
1.8
2.2
2.8
0.8
0.4
1.3
1.3
-2.5
0.2
1.3
4.6
-2 ,2
2.2
3.4
1.1
2,1
7.0
8.7
21.3
5.8
4.3
3.8
7.7
14.4
11.8
2.9
4.3
1.6
2.8
8.2
19.2
12.9
4.3
4.1
5.5
9.8
15.8
10. B
4.5
5.3
4.4
3.9
12.0
10.7
4.7
3.1
7.1
7.9
13.2
19,2
10.3
4.9
5.3
3.8
4.9
16.6
17.5
3.9
2.3
7.9
8.8
13.9
17.1
11.8
NOTE: These series contain no revisions but are reprinted for the convenience of the user. Percent changes are centered within the spans:
1-month changes are placed on the 2d month and 6-month changes are placed on the 4th month. Quarterly and annual figures are averages of the
centered changes.
87^8
90.7
93.3
94.6
94.8
94.9
94.5
94,8
AVERAGE FOR PERIOD
-0.2
0.
1.4
0.
-0.5
-0.3
0.2
-0.5
0.3
0.2
0.2
-0.2
0.
0.
0.1
0.2
-0.1
0.3
-0.3
0.
0.4
0.7
0.
0 .1
0,6
0.4
1.0
-0.4
0.2
0.4
0.4
0.7
-1.1
-0.4
0.6
0.2
-0.6
-0.7
-0.2
-0.1
0.
-0.2
-0.1
-0.5
0.3
0.
-0.6
0.2
0.1
0.1
-0.6
0.
0.
0.3
-0.1
-0.1
-0.2
-0.7
1.8
0.7
0.3
0.5
1.2
1.5
OVER 6-MONTH SPANS
1.7
-2.3
20.1
-3.9
-1.8
0.
-1.6
2.3
2.7
1.7
-0.4
-1.9
-0.2
0.
1.1
1.3
1.3
2.7
0.6
0.8
1.8
3.4
1.6
1.2
4.3
9.2
23.0
5.9
4.1
2.0
7.5
13.5
11.6
Annual
84.1
77.9
82.5
78,6
81.8
80.7
90.2
87.8
0.7
-0.9
0.5
-0.8
-0.5
-0.3
-0.8
0.5
-0.1
0.3
-0.2
-0.2
-0.2
-0.5
-0.1
0.2
0.
0.7
0.1
0.5
0.1
0.5
0.4
0.4
0.5
2.1
0.5
0.3
0.7
-0.4
0.8
0.6
IV Q
AVERAGE FOR PERIOD
82.6
77.6
83.1
77.7
0.5
-0.9
1.3
-0.3
-0.1
0.5
-0,1
-0.6
0.7
-0.1
0.1
0.
-0.2
-0.4
-0.2
0.3
-0.2
0.3
0.1
0.5
0.3
0.8
0.
0.4
0.6
2.1
1.5
0.6
0.3
0.5
0.7
0,9
7.5
-5.9
14.6
-4.9
-0.4
1.6
0.
0.7
4.1
2.6
0.2
-0.6
-0.2
-1.9
-0.4
0.4
-0.4
3 4
2.8
0,2
1.2
4.0
1.3
4.1
4.5
25.4
25.4
6.4
5.0
4.7
8,6
13.1
10.7
6.2
III Q
II Q
83.3
77.7
85.5
90.2
88.2
0.9
-1.0
0.
-0.2
-0.6
-0.6
0.5
0.5
0.8
0.3
-0.3
0.3
0.
-0.5
-0.3
-0.2
-0.1
0.4
0.1
-0.4
0.
0.1
0.1
0.3
0.1
0.5
0.9
1.0
0.9
1.2
1.4
1.5
1.9
-9.1
10.8
-1.1
-2.2
1.8
-0.7
0.7
3.9
2.4
0.6
0.
0.6
-2.1
-0.8
0.2
-1.3
3.8
3.5
0.4
3.4
5.2
2.9
5.3
5.9
16.4
21.7
4.6
5.7
7.3
10,9
15.1
12.5
8.2
I Q
84.2
78.0
85.0
90.0
88.7
330-C. CHANGE IN INDEX OF PRODUCER PRICES, ALL COMMODITIES,
(COMPOUND ANNUAL RATE, PERCENT)
1948...
1949...
1950...
1951...
1952. . .
1953...
1954.,.
1955. ..
1956...
1957...
1958..,
1959...
1960...
1961...
1962...
1963...
1964...
1965...
1966...
1967. . .
1968...
1969...
1970...
1971. . .
1972...
1973. . .
1974. . .
1975...
1976...
1977...
1978...
1979...
1980...
1981...
1982...
Dec.
84.3
77.9
83.5
90.2
89.1
330-C , CHANGE IN INDEX OF PRODUCER PRICES, ALL COMMODITIES, OVER 1-MONTH SPANS
{MONTHLY RATE, PERCENT)
1948...
1949...
1950...
1951...
1952. ..
1953...
1954...
1955...
1956...
1957...
1958...
1959..,
1960...
1961...
1962. ..
1963...
1964...
1965...
1966...
1967...
1968...
1969...
1970...
1971...
1972...
1973...
1974...
1975...
1976...
1977...
1978...
1979...
1980. . .
1981. . .
1982. . .
Nov.
1.3
-2.4
21.7
-3.7
-1.9
0.9
-1.6
2.0
3.2
1.6
-0.3
-1.6
-0.3
0.3
0.7
0.9
1.2
2.6
0.8
1.3
1.9
3.5
1.4
1.7
5.2
10.3
22.8
6.6
4.3
2.6
7.8
14.0
11.7
{MAY 1982)
C. Historical Data for Selected Series—Continued
Year
Jan.
Feb.
331.
1948. . .
1949 . . .
1950...
1951 . . .
1952...
1953. ..
1954...
1955. ..
1956. . .
1957. . .
1958. . .
1959...
1960. ..
1961. . .
1962...
1963. ..
1964. ..
1965. ..
1966...
1967. . .
1968
1969. . .
1970. ..
19 71 ...
1972. ..
1973...
1974. . .
1975...
1976. . .
1977. . .
1978. ..
1979...
1980. . .
1981 ...
1982. ..
Mar,
Apr.
May
June
July
Aug.
Sept.
Oct.
INDEX OF PRODUCER PRICES, CRUDE MATERIALS FOR FURTHER PROCESSING
(1967=100)
\Q
ll Q
113.3
93.6
108.4
115. 9
109.9
102.3
99.7
96.9
98.5
101.4
101.9
98.7
96.0
96.3
97.9
95.6
94.4
100.2
106.9
99.8
101.5
109.6
112.2
106.8
94.7
113.5
116.8
106.8
100.4
99.5
95.1
99.7
99.7
101.8
97.5
96.7
97.1
98.4
95.3
95.4
102.8
103.5
100.1
103.6
111.9
111.9
110.9
96.0
104.6
120 . 1
110.3
101.9
101.0
97.1
97.6
99.8
102.0
99.4
97.0
96.5
97.5
95.4
94.5
99.3
105.7
100.0
101.6
108.4
112.3
128*. 7
188.9
195.4
202.2
204.3
204.8
237.6
276.9
314.2
333.5
135*0
188 1',1
201.2
206.1
203.2
208.5
247.2
285.9
326.7
127*6
173.9
196.1
196.9
205.1
214.3
240.2
282.2
304.6
AVERAGE FOR PERIOD
109.9
99.0
97.4
107.1
98.1
96.8
109.3
96.5
97.3
112.9
96.1
100.9
115.5
95.0
102.6
115.1
93.2
106.4
113.5
93.4
108.5
111.3
94.2
110,3
108.0
94.4
110.3
107.0
94.8
113 .1
105.5
94.8
117.1
111.0
99.7
96.3
114.5
104.1
102.5
99.3
94.1
100.1
100.3
100.9
97.1
97.1
97.9
96.9
95.1
94.4
105.5
102.9
100.2
104.0
112.2
111.3
120.6
143,8
202.3
190.3
201.4
205.5
215.2
255.4
289.0
3 29 . 1
113.3
103.4
102.3
98.9
95.5
99.0
101.9
100.4
97.2
97.5
97.7
95.7
94.0
95.6
107.6
100.5
100.5
103.2
112.3
1 14 . 6
121.8
150.5
205.5
185.0
198.4
209.9
218.8
261.8
295.1
332.1
111.7
103.7
102.6
98.0
95.1
98.5
103.3
100.6
98.1
96.9
97.4
94.4
94.4
95,9
107.0
99.2
101.0
104.6
113.6
113.1
121.7
157.4
198.9
182.4
196.6
212.9
222.8
267 .3
289.0
111.5
101.0
103.0
98.8
96.7
98.3
101.8
101.3
98.1
96.5
96.3
95.0
94.3
97.0
106.4
98.1
101.4
105.8
113.5
115.1
123.7
159.9
193.6
190.1
204.1
218.1
230.7
271.2
283.2
111.3
101.8
102.6
96.2
98.0
98.0
103.6
100.5
98.3
95.5
96.1
94.7
94.0
98.5
105.6
99.2
100.7
108.7
111.7
115.0
125.4
167.8
186.1
195.4
203.2
216.1
232.8
272.5
287.5
110.7
100.3
100.7
98.1
97.4
100.5
102.2
100.0
97.3
94.0
95.7
95.5
92.9
100.9
105.5
100.2
100.1
110.1
111.8
110.6
103.4
100.2
97.2
97.3
102.2
102.6
99.0
97.2
95.0
96.6
95.9
93.4
99.7
106.7
99.9
101.1
109.0
112.1
110.8
101.4
99.9
96.1
99.0
102.4
101.9
98.2
95.2
97.3
97.3
95.5
93.8
100.6
107.3
100.0
101.3
110.0
111.0
108.2
102.2
99.0
97.3
99.1
99.7
101.2
98.8
95.7
96.6
99.7
95.3
96.1
100.4
106.8
99.6
102.0
109.8
113.4
107.8
100.3
99.7
97.0
98.9
99.1
101.8
98.0
96.6
96.9
98.3
95.7
95.3
101.3
105.1
100.1
102.4
111.1
113.4
107.6
99.8
100.3
94.0
99.3
99.5
102.7
97.5
96.5
96.6
98.9
96.5
95.5
102.5
103.2
99.5
104.8
112.5
112.0
113.2
103.7
102.5
98.7
94.9
99.2
101.8
100.6
97.5
97.2
97.7
95.7
94.5
95.3
106.7
100.9
100.6
103.9
112.7
126.0
175.6
176.9
196.4
208.3
209.1
239.1
275.3
289.2
127 .9
167.6
190.9
199.4
207.1
206.8
237.7
277,6
304,0
128.8
204.8
200.8
201.3
203.2
204.0
235.2
273.2
318.2
129^3
194.4
194.6
206.0
202.6
203.5
240.0
280.0
320.3
130.7
186.9
202.0
208.0
201.3
204.5
245.7
282.5
325.5
134.2
188.6
205.0
205.6
202.5
208.9
247.0
286.2
329.0
105.1
101.2
98.6
94.2
101.0
100.6
101.0
97.0
96.9
97.8
98.0
93.8
95.3
104.6
102.3
100.6
103.5
112.1
110.3
118.9
140.0
188.9
196.6
204.6
205.9
212.2
248.8
289.1
325.7
112.6
95.9
100.3
123.1
111.2
101.0
102.1
97.7
97.4
98.9
102.5
100.6
97.9
95.3
96.0
95.1
93.7
98.8
105.8
99.2
100.7
108.2
112.3
121.4
150.6
202.2
185.9
198.8
209.4
218.9
261.5
291.0
3 29 . 9
125*0
167*8
185.5
194.0
205.2
214.4
234.2
273.0
286.6
334.6
-5.2
-3.0
3.0
3.8
-1.0
-0.7
-0.2
-0.4
1.5
-1.1
1.6
-0.5
0.1
0.4
-0.2
-1.2
-1.2
1.3
2.0
-2.3
0.3
-0.8
0.1
3.0
1.0
4.7
1.6
-2.8
-1.5
2.1
1.7
2.5
2.1
0.9
-2.5
-0.9
-0.6
-1.1
-1.4
0.3
0.3
-0.9
-0.4
-0.5
1.4
0.2
0.9
-0.6
-0.3
-1.4
0.4
0.3
-0.6
-1.3
0.5
1.4
1.2
-1.3
-0.1
4.6
-3.2
-1.4
-0.9
1.4
1.8
2.1
-2.1
-1.1
2.1
-1.6
0.5
-0.2
-0.2
-2.6
3.3
-0.4
3.7
-1.5
-0.2
0.8
0.4
0.8
1.7
-0.4
-2.6
-0.2
-1.5
-0.3
0.7
0.
-0.8
0.2
-0.4
-1.1
0.6
-0.1
1.1
-0.6
-1.1
0.4
1.1
-0.1
1.8
1.6
1.6
-2.7
4.2
3.8
2.4
3.5
1.5
-2.0
1.5
1.3
1.8
-1.0
-0.2
-0.3
-0.3
1.5
-0.8
1.1
-0.7
2.7
-1.6
-0.1
1.4
4.9
-3.9
2.8
-0.4
-0.9
0.9
0.5
1.5
0.2
2.3
-1.1
1.7
-1.0
-0.5
-1.5
-1.9
2.0
-0.6
2.6
-1.4
-0.5
-1.0
-1.6
-0.4
0 .8
-1.2
2.4
-0.1
1.0
-0.6
1.3
0.1
0.4
0.5
4.6
-4.9
0.5
2.5
-3.2
2.7
1.0
0.6
1.0
-0.3
-1.9
3.7
-3.5
-0.1
3.1
-0.5
-0.9
-0.1
1.7
0.4
-1.0
-0 1
1.1
0,9
0.4
0.5
-1.2
1.1
-0.3
1.0
-1.0
0.3
-0.8
1.5
-4.6
7.9
1.5
-0.6
-1.1
-0.6
0.8
5.1
0.2
-1.4
0.2
2.0
-1.5
0.2
-1.9
-0.3
-1.1
1.7
0.2
-0.7
-0.8
-2.1
2.4
0.7
-0.4
0.4
0.9
0.6
0.1
0.2
0.9
-1.0
-0.2
0.7
22.2
5.2
1.0
-1.9
-1.4
-1.1
-1.6
4.7
-0.9
-1.9
0.9
1.7
-0.8
-2.3
0.8
-0.9
1.2
0.1
-2.6
-0.7
0.6
0.5
-0.7
2.5
-0.2
2.5
-0.2
-0.5
-0.4
0 .7
-0.2
2.2
-0.4
0.4
-5.1
-3.1
2.3
-0.3
-0.2
2.0
2.5
0.7
-1.8
-3.0
0.2
0.
2.4
-0.4
-1.9
0.7
-0.3
-0.2
-0.6
0.6
-0.8
0.9
0.3
-1.4
0.4
-0.8
0.9
-1.6
0.5
0.4
1.2
0.
2.1
1.1
-3.9
3.8
1.0
-0.6
0.5
2.4
0.9
1.6
AVERAGE FOR PERIOD
-0.9
0.4
2.5
-0.9
-0.2
-0.5
0.6
-3.1
0.4
0.4
0.9
-0.5
-0.1
-0.3
0.6
0.8
0.2
1.2
-1.8
-0.6
2.3
1.3
-1.2
1.7
2.7
0.9
1.5
-1.2
0.6
2.2
0.5
1.3
1.1
-1.4
0.
3.5
0.3
-2.3
1.4
-1.7
0.2
1.7
1.1
-1.7
-0.5
0.4
1.2
-0.9
-2.8
-0.2
2.0
-0.9
1.1
-1.2
-0.4
-1.5
0.5
4.3
0.2
-4.1
-0.5
1.7
1.6
0.7
1.0
-1.0
-1.7
-2.4
0.7
2.2
-1.4
-0.5
0.5
-0.2
0.3
-0.8
0.9
-0.1
0.4
0.
-0.1
-1.2
0.2
0.2
0.8
-1.0
0.1
0.4
0.5
0.9
0.8
4.0
1.8
-2.5
-1.3
1.1
1.6
2.4
0.
0.3
2.6
-1.0
2.0
-0.9
-0.3
-1.1
-0.6
0.1
0.8
0.7
-0.4
-0.2
-0.3
-1.0
-0.6
0.4
-0.5
1.7
-0.5
0.3
-0.3
1.7
-0.5
0.7
1.2
3.7
-3.8
2.5
2.0
-0.6
2.4
1.0
0.
0.9
5.8
-19.5
12.2
18.0
-9.4
-10.5
3.4
-3.6
5.0
-1.6
5 7
-2.4
0.8
-2.7
-2.1
-6.6
-3.3
7.4
6.0
-8.2
1.3
9.2
0,8
6.0
12.6
4.4
-11.8
26.8
-13.1
-5.8
-2.7
-5.3
-3.7
7.7
4.6
-2.5
-6.9
-0.8
11.5
26.2
22.0
0.5
4.9
-6.6
18.6
5.6
-4.3
17.9
12.2
16.6
2,2
331-C. CHANGE IN INDEX OF PRODUCER PRICES, CRUDE MATERIALS FOR FURTHER PROCESSING,
OVER 6-MONTH SPANS 2
COMPOUND ANNUAL RATE, PERCENT)
1948...
1949. ..
1950. . .
1951...
1952...
1953. ..
1954. . .
1955. . .
1956...
1957. . .
1958 ...
1959...
1960...
1961. . .
1962...
1963. ..
1964. ..
1965...
1966...
1967...
.1968. ..
1969...
1970. ..
1971...
1972...
1973 . . .
1974. ..
1975...
1976...
1977...
1978.. .
1979...
1980. ..
1981. . .
1982. ..
HI Q
115.9
102.1
94.6
2.7
-3.2
-0.2
4.0
-1.9
-1.0
1.3
0.7
-0.1
-0.9
-0.3
-0.1
0.1
0.2
0.1
-1.1
1.4
-0.9
0.9
0.6
-0.4
0.5
0.1
0.9
1.4
2.7
7.1
-3.2
-1.6
-0.2
1,4
2.7
0.
1.0
3.6
-20.2
6.2
28.0
-9.8
-12.2
5.5
-1.8
-0.6
-1.2
5.5
-1.0
0.2
-0.2
-1.2
-6.6
-2.9
3.6
10.3
-12.9
2.6
6.8
4.4
3.0
13.1
49.7
7.3
-11.4
-3.7
17.4
27.3
21.8
0.5
4 .8
9.1
-19.3
13.3
18.1
-8.4
-10.5
5.7
-8.0
8.7
-2.6
4.7
-18.9
17.1
8.0
-10.0
-8.9
-1.0
-1.0
6.9
-1.0
-4.2
1.6
-2.1
-1.0
-8.3
-5.1
6.4
6.1
-7.6
2.4
7.6
-1.4
5.4
12.4
56.3
-2.6
-9.1
-2.3
13.9
24.2
21.7
0.9
2.9
-2.0
0.6
-5.9
-4.2
-5.0
-1.9
12.1
1.7
-4.1
-1.0
13.2
-0.5
9.7
12.3
57.3
-12.3
-0.2
3.6
3.1
27 .0
22.4
0.1
7.0
-1.4
-16.7
26.5
-7.1
-6.7
-1.3
-4.4
-4.2
6.7
-11.0
24 . 1
-16.4
-4.4
-3.8
-4.6
-5.6
6.9
4.2
7.5
7.0
-3.7
-4.3
0.2
-4.3
-2.6
-2.1
-3.5
11.5
2.3
-5.7
1.8
9.8
-0.2
6.0
12.5
35.8
-11.0
9.8
5.7
1.3
22.0
18.1
10.6
5.2
-4.
-0.
-0.
-0.
-0.
10.
-0.
-1.0
1.6
13.6
-2.3
-0.3
11.8
85.2
-4 5
18.4
4.9
-5.5
15.6
8,9
16.3
1.4
-2.4
-4.3
28.5
-11.5
-6.5
-1.4
-6.3
-3.6
4.6
1.6
-10.2
-2.7
25.6
-10.5
-6.5
-3.9
-4.4
-4.5
2.7
3.1
-16 .6
-0.4
30.3
-8.0
-9.9
1.8
-4.1
-7.8
7.5
0.2
-21.3
3.0
31.0
-4.9
-11.4
-1.7
-1.8
-6.3
5.8
-3.7
-23.9
8.7
35.7
-3.9
-12.9
1.8
-2.0
-1.2
0.
-1.0
-22.3
5.6
28.4
-5.2
-8.1
0.8
-2.0
-4.5
-1.2
7.4
-6.4
-3.0
0.8
4.2
1.5
2.1
9.1
-2.4
4.1
2.0
10.3
-0.2
2.1
11.6
-5.9
-3.6
2.3
5.9
3.8
3.2
8.3
-4.5
0.6
8.3
7.1
0.5
5.8
14.5
-5.9
-0.8
8.2
4.9
-3.5
5.2
7.5
-6.0
0.8
6.9
3.7
-2.7
6.0
23.5
-3.8
-0.2
6.2
0.6
-1.7
2.2
12.0
-7.0
0.6
5.8
6.C
-1.4
10.7
26.4
-2.0
4.9
0.8
-3.3
-3.1
3.9
14.4
-12.3
1.0
3.8
4.2
6.6
13.4
36.5
-1.4
2.5
1.7
-10.3
-1.9
-0.4
13.6
-13.7
2.8
5.2
7 .0
-0.5
14.2
48.2
-4.3
27.6
6.2
-8.6
16.0
9.7
22.8
0.
8.9
19.7
-2.7
-12.1
13.4
8.5
32.1
21.3
10.7
-0.7
-6.6
12.6
10.3
31.0
23.5
8.5
-2.3
3.0
8.3
10.3
26.8
-0.6
2.0
-1.5
-15.1
-2.9
6.7
15.0
23.9
16.7
8.9
-12.1
-8.9
10.4
19.9
24.0
6.5
5.1
8.:
15.4
8.4
17. i
-1.2
-0.3
2.5
-1.9
-0.7
0.7
-0.6
-0.3
0.6
-0.2
-0.3
-0.4
-0.6
0.9
1.4
-0.1
1.1
-0.2
0.4
-0.2
0.6
-0.1
0.5
-0.5
0.9
4.2
3.3
1.6
-0.9
-0.9
0.1
0.6
3.5
-0.8
-1.8
0.2
2.0
0.6
-1.0
-0.3
-0.1
-1.1
0.6
0.3
-0.1
-0.6
0.4
0.4
-0.6
-0.5
-0.3
1.4
-1.4
0.3
0.5
0,7
-0.9
1.4
2.7
-0.9
0.4
-0.2
0.6
1.4
1.2
1.1
0.6
-0.5
-0.9
1.8
0.
-0.9
-0.3
-0.2
-0.4
0.6
0.
0.
-0.3
0.
0.1
0.
-0.4
0.1
0.8
-0.2
-0.1
0.2
0.7
-0.1
0.6
1.4
2.7
0.4
0.4
0.1
0.3
1.3
1.3
1.0
AVERAGE FOR PERIOD
8.0
-7.8
29.8
-15.8
-6.2
-2.9
-6.9
-1.4
8.6
2.5
-4 . 0
-3.5
-4.8
-0.6
4.8
1.9
3.6
9.6
-0.4
0.8
2.0
10.2
-0.4
1.4
12.9
NOTE: Percent changes are centered within the spans: 1-month changes are placed on the 2d month and 6-month changes are placed on the
4th month. Quarterly and annual figures are averages of the centered changes.
'This series contains revisions beginning with 1977. 2 This series contains revisions beginning with 1976.
Annual
Dec.
331-C. CHANGE IN INDEX OF PRODUCER PRICES, CRUDE MATERIALS FOR FURTHER PROCESSING,
OVER 1-MONTH SPANS'
(MONTHLY RATE PERCENT)
.1948...
1949...
1950. . .
1951. . .
1952. . .
1953...
1954...
1955...
1956...
1957...
1958...
1959...
1960...
1961...
1962.. .
1963...
1964. . .
1965...
1966. ..
1967...
1968...
1969...
1970. ..
1971. ..
1972...
1973. . .
1974. . .
1975. ..
1976...
1977. ..
1978...
1979. ..
1980...
1981...
1982. . .
IV Q
Nov.
1
-3.8
-2.9
-1.8
0.5
-0.2
-0.1
10.6
0.4
-2.0
1.8
11.2
-1.0
2.4
12.4
-9.7
-2.5
28.1
-10.0
-7.6
-1.2
-4.9
-5.3
4.9
1.6
-1.3
-6.1
-2.5
3.8
5.0
0.6
3.5
8.3
-4.3
1.8
5.7
7.0
-0.8
4.6
16.5
26.2
17.9
13.0
-1.9
-5.2
11.4
9.7
30.0
-22.5
5.8
31.7
-4.7
-10.8
0.3
-1.9
-4.0
1.5
0.9
-2 5
-2.4
2.4
2.9
-4.3
-2.2
1.9
13 .3
-11.0
1.5
4.9
5.7
1 .6
12.8
37.0
17.0
-9.3
-3.3
5.2
14.4
21.1
10.5
10.4
-5.5
-7.0
24.7
-2.4
-8.4
-3.5
-2.2
-4.2
4.8
1.4
0.5
-3.7
-0.5
0.5
-0.2
-2.1
0.5
9.9
-2.2
-1.7
3.4
8.3
0.2
6.4
19.6
-0.1
5.4
2.0
4,1
19.1
13.6
14.4
(MAY 1982)
105
G. Experimental Data and Analyses
(Nov.)
P
Year
and
quarter
Implicit price
deflator, gross
nonfarm business
product1
(Index: 1977=100)
Unit labor cost,
all persons, nonfarm
business sector1
127.4
131.8
133.6
136.8
135.3
137.5
141.2
r!44.7
139.1
141.9
145.8
r!50.7
P145.5
p!53.6
160
150
140
130
Components of BCD series 26-
in
(Index: 1977=100)
122.9
126.3
128.8
131.9
(Jan ) (July)
P T
1 1 1 M F 1 1 1 I I I I I I f1ra111 1 1 1 1 1 1 i l l I I I IJI ITT III Ratio scale
1980
I Q....
II Q...
Ill Q..
IV Q...
(Mar.)
T
D
120
Implicit price deflator, gross nonfarm
business product, Q
(index: 1977 = 100)
110
100
160
150
140
130
120
110
1981
I Q....
II Q...
Ill Q..
IV Q...
Unit labor cost, all persons, nonfarm
business sector, Q
(index: 1977 = 100)
1982
I Q....
II Q...
Ill Q..
IV Q...
100
90
80
-1 70
1
Inventory-sales ratios in 1972 dollars (ratio)Inventory-sales ratios in 1972 dollars 2
Year
and
month
Manufacturing
(Ratio)
Merchant
wholesalers
(Ratio)
Manufacturing
Retail trade
Arithmetic
scale
—I
2.2
I
(Ratio)
2.1
1981
Jan. . .
Feb...
Mar...
Apr. . .
May...
June. .
1.97
1.96
1.96
1.96
1.98
1.93
1.33
1.32
1.35
1.36
1.38
1.41
1.38
1.36
1.36
1.39
1.40
1.41
July. .
Aug...
Sept..
Oct...
Nov...
Dec...
1.97
1.99
2.01
2.09
2.12
2.12
1.38
1.43
1.42
1.45
1.44
1.47
1.45
1.42
1.42
1.49
1.48
1.46
2.0
1.9
1.8
1.6
1.5
1.4
1982
Jan
Feb....
Mar
Apr
May
June. . .
2.17
2.11
p2.11
(NA)
1.49
rl.43
pi. 39
(NA)
1.46
rl.42
pi. 43
(NA)
1.3
1.6
1.5
July.. .
Aug
Sept...
Oct....
Nov....
Dec....
1.4
1.3
ME
1969 1970
I I I I I I I I I in i l l I I I I I I I I I
1972 1973 1974 1975 1976 1977 1978 1979 1980 1981 1982
NOTE:
The "r" indicates revised; "p", preliminary; and "NA", not available.
x
Source: U.S. Department of Labor, Bureau of Labor Statistics.
2
Source: U.S. Department of Commerce, Bureau of Economic Analysis.
106
G. Experimental Data and Analyses—Continued
Net Contributions of Individual Components to the Leading, Roughly Coincident, and Lagging Composite Indexes
Net contribution to index
Basic data
(and
Series title
unit of measure)
LEADING INDICATORS
1. Average workweek, production workers,
manufacturing (hours)
5. Average weekly initial claims, State
unemployment insurance 1 (thousands)
8. New orders for consumer goods and materials
in 1972 dollars (billion dollars)
32. Vendor performance, companies receiving
slower deliveries (percent)
12. Net business formation
(index: 1967=100)
20. Contracts and orders for plant and equipment
in 1972 dollars (billion dollars)
29. New building permits, private housing
units (index: 1967=100)
36. Change in inventories on hand and on order in
1972 do!., smoothed2 (ann. rate, bil. dol . ) .
92. Change in sensitive crude materials
prices, smoothed2 (percent)
19. Stock prices, 500 common stocks
(index: 1941-43=10) . . . . .
104. Change in total liquid assets, smoothed2
(percent)
106. Money supply (M2) in 1972 dollars
(billion dollars)
910. Composite index of 12 leading indicators 3
(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
3
indicators (index- 1967=100)
LAGGING INDICATORS
91. Average duration of unemployment1
(weeks)
70. Manufacturing and trade inventories, total,
in 1972 dollars (billion dollars)
62. Labor cost per unit of output, manufacturing
(index: 1967=100)
109. Average prime rate charged by banks
(percent)
72. Commercial and industrial loans outstanding
(million dollars)
95. Ratio, consumer installment credit to
personal income (percent)
. . .
930. Composite index of 6 lagging indicators 3
(index- 1967=100) . . .
|
Jan.
1982
*e39.0
563
29.60
39.5
514
30.61
Jan.
to
Feb.
1982
Apr.
1982
Mar.
1982
Feb.
1982
39.0
p39.1
Mar.
Feb.
to
to
Mar.
1982
Apr.
1982
0.47
-0.47
0.10
0.29
-0.30
0.00
-0.06
566
p566
r30.64
p30.33
0.19
0.01
0.15
-0.04
32
36
35
31
NA
NA
NA
NA
NA
r!3.16
p!2.17
-0.18
0.21
-0.21
-0.04
0.23
0.12
-0.68
-0.16
NA
-C.13
NA
-0.17
NA
12.97
12.08
r64.9
r64.C
r68.7
r-13.72
r-23.61
p-25.96
NA
r-C.50
-0.77
r-1.42
-1.67
-0,12
-0.30
117.28
114.50
110.84
116.31
-0.16
-0.22
0.35
rO.78
reO.65
reO.62
eO.74
-0.45
-0.10
0.46
813.9
814.8
r824.8
p829.2
0.05
0.51
0.25
r!25.3
r!24.8
r!24.2
p!25.2
-0.40
-0.48
0.81
90,879
r91,019
r90,760
p90,562
0.12
-0.22
-0.22
rl,063.9
rl,072.8
rl,C72.2
pi, 0 7 4 . 0
0.41
-0.03
0.11
r!40.7
r!42.7
r!41.5
p!4C.7
C.39
-0.23
-0.20
rl46,577
r!50,884
p!51,320
NA
0.63
0.06
NA
r!34.2
r!36.1
P134.7
1.42
-0.59
-0.44
-0.27
0.09
-0.20
13.5
14.1
135.3
13.9
71.0
14.2
r266.53
r265.13
P264.57
NA
-0.25
-0.10
r230.4
r228.8
r228.6
p228.3
-0.22
-0.03
-0.06
15.75
16.56
1.57
-0.12
0.00
0.72
16. 5C
16.50
196,771
r201,612
r202,378
p206,841
0.54
0.08
13.11
r!3.04
p!3.03
NA
-0.24
-0.03
r!82.2
r!84.0
r!83.5
p!84.0
0.99
-0.27
NA
NA
0.27
NOTE: The net contribution of an individual component is that component's share in the composite movement of the group. It
is computed by dividing the standardized and weighted change for the component by the sum of the weights for the available components and dividing that result by the index standardization factor. See the March 1979 BUSINESS CONDITIONS DIGEST (pp. 106107) for weights and standardization factors. NA, not available, p, preliminary, r, revised, e, estimated.
x
This
2
series is inverted in computing the composite index; i.e., a decrease in this series is considered an upward movement.
This series is a weighted 4-term moving average (with weights 1,2,2,1) placed on the terminal month of the span.
^Figures in the net contribution columns are percent changes in the index. The percent change is equal (except for rounding
differences) to the sum of the individual components' contributions plus the trend adjustment factor. The trend adjustment
factor for the leading index is 0.099; for the coincident index, -0.164; for the lagging index, -0.170.
*This value has been substituted for the actual January value for average workweek. See "New Features and Changes for This
Issue," (item 1) on page iii of the March 1982 issue.
107
G. Experimental Data and Analyses—Continued
Recession Comparisons: Current and Selected Historical Patterns
T
QRTRS.
FROM
REF.
PEAK
30. Change in business inventories,
1972 dollars
-3
-2
-1
CURRENT QRTR.
ACTUAL
AND
DATA YEAR
SERIES 30
ANN. RATE
BIL. DOL.
-7.2
IV/80
-1.4
1/81
10.8
11/81
T
rjrr
T
82. Rate of capacity utilization,
manufacturing (FRB)
Deviations
from
reference
peaks
Actual
data
for
current
cycle
Actual
14.9
4.2
-17.2
HI/81
-I +5
IV/81
1/82
QRTRS. DEVIFROM ATIONS CURRENT QRTR.
REF.
FROM ACTUAL
AND
PEAK HI/81
DATA YEAR
• 80
SERIES 82
PERCENT
-3
-2
-1
-0.2
0.6
0.5
-4.5
-7.7
79.1
79.9
79.8
IV/80
1/81
11/81
79.3
HI/81
74.8
71.6
IV/81
1/82
• 75
• 70
-10
• 65
-15
• 60
-20
86. Nonresidential fixed investment,
total, 1972 dollars
+5
QRTRS. DEVIFROM ATIONS CURRENT QRTR.
REF.
FROM ACTUAL
AND
PEAK HI/81
DATA YEAR
-3
-2
-1
SERIES 50
ANN. RATE
BIL. DOL.
-2.0 1485.6 IV/80
0.0 1516.4
1/81
-0.4 1510.4 11/81
0
0. P 1515.8 HI/81
Percent
• 170
• 160
• 1550
1
2
-1.1
-2.2
1498.4
1482.2
IV/81
1/82
QRTRS. DEVIFROM ATIONS CURRENT QRTR.
AND
FROM ACTUAL
REF.
DATA YEAR
PEAK HI/81
• 150
500
-2
-1
-10
SERIES 86
ANN. RATE
BIL. DOL.
IV/80
-4.2
157.
1/81
162,
-1.2
11/81
-1.7
161,
• 1450
-J
-5
-C.7
-0.9
0
+6
+12
+18
163.9
HI/81
162.7
162.4
IV/81
1/82
+ 24
Months from reference peaks
NOTE: For an explanation of these charts, see "How to Read Charts" on p. 107 of the February 1982 issue.
108
-15
-6
0
+6
+12
+18
Months from reference peaks
+24
• 140
G. Experimental Data and Analyses—Continued
Recession Comparisons: Current and Selected Historical Patterns—Continued
i""ii""«i""ii«'
Illllllllll
Deviations
from
reference
peaks
51. Personal income, less transfer
payments, in 1972 dollars
Wi|
Actual
data
for
current
cycle
MONTHS DEVIFROM ATIONS CURRENT MONTH
REF
FROM ACTUAL
AND
DATA YEAR
7/81
PEAK
Q
0
Percent
+ 10
—
• 1150
t
Median £
"V/
•
+5
• 1 100
;^
1981
1980
€
• 11°5
—
• 1075
JP
• 1050
9\
jl
A jJf
1973 \
8/81
9/81
10/81
11/81
*
8
0.2
-0.4
0.4
0.4
1070.5
1063.9
1072.8
1072.2
12/81
1/82
2/82
3/82
9
0.6
1074.0
4/82
0.7
0.7
0.6
5
MONTHS
FROM
REF.
PEAK
Actual
data
(percent)
un
1.2
1.0
CURRENT MONTH
ACTUAL
AND
DATA YEAR
0
0.97
7/81
1
2
3
1.01
0.98
0.92
0.89
8/81
9/81
10/81
11/81
0.6
12/81
1/82
2/82
3/82
0-4
Q
0.85
0.78
0.65
0.62
9
0.74
4/82
0.2
4
5
6
f
f*
104. Change in total liquid assets,
smoothed 1
SERIES 104 *
PERCENT
V V.v^^
X? Uf^\f
r
0.7
1075.6
1075.4
1074.4
1075.7
1
2
3
4
*
JSCT V
r» /Ai
fff*^y* K^O*i *
*r\
\
\fJf
fiPRTRR e:i
ANN. RATE
BIL. DOL.
7/81
0. P 1068.0
I II II | I ITTITTITTTyTITTrpTTTTyTT
• 1025
-• R
91. Average duration of unemployment
(inverted)
MONTHS DEVIFROM ATIONS CURRENT MONTH
REF.
FROM ACTUAL
AND
PEAK
DATA YEAR
7/81
106. Money supply (M2), 1972 dollars
SERIES 91
WEEKS
0
0
• 14
1
2
3
4
0. P
0.2
-0.4
-0.5
-1.0
•M
-1-2
14.1
7/81
14.3
8/81
13.7
9/81
13.6 10/81
13.1 11/81
-1.3
-0.6
0.
-0.2
12.8
13.5
14.1
13.9
12/81
1/82
2/82
3/82
0.1
14.2
4/82
• 860
+6
• 840
+4
+2
MONTHS DEVIFROM ATIONS CURRENT MONTH
AND
REF.
FROM ACTUAL
DATA YEAR
PEAK
7/81
0
SERIES 106
BIL. DOL.
+5 *
0.3
+ 6 •^
-0.5
-0.3
0.3
+ 7 * 21
0.6
1.4
1.5
2.7
imilim.
-6
0
+6
+12
+18
+24
«- 7
19
7/81
• 780
804.9
798.8
800.4
805.5
8/81
9/81
10/81
11/81
• 760
808.0
813.9
814.8
824.8
12/81
1/82
2/82
3/82
829.2
4/82
-6
Months from reference peaks
0
+6
+12
+18
+24
Months from reference peaks
NOTE: For an explanation of these charts, see "How to Read Charts" on p. 107 of the February 1982 issue.
^his series is a weighted 4-term moving average (with weights 1,2,2,1) placed on the terminal month of the span.
109
ALPHABETICAL INDEX-SERIES FINDING GUIDE
Series titles
(See complete titles in "Titles and Sources of
Series," following this index)
Current issue
(page numbers)
Series
number
Charts
Tables
Historical
Series
descriptions
data
(issue date)
(*)
A
Accession rate, manufacturing
Agricultural products, exports
Anticipations and intentions
Business expenditures, new plant and equipment
Business expenditures, new plant and equipment, Dl . .
Consumer sentiment, index
Employees manufacturing and trade, Dl
Inventories manufacturing and trade Dl
New orders manufacturing, Dl
Prices selling manufacturing Dl
Prices* selling retail trade Dl
Prices selling wholesale trade Dl
Profits net manufacturing and trade Dl
Sales, net, manufacturing and trade, Dl
Automobiles
Expenditures, personal consumption
Imports of automobiles and parts
2
604
16
56
61
92
8/81
12/81
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
3/81
3/81
1/82
1/82
1/82
1/82
1/82
1/82
1/82
1/82
1/82
34
34
31
43
48
48
40
49
48
48
48
55
616
22
56
65
92
4/81
12/81
50
64
B
Balance of payments-See International transactions.
Bank loans to businesses, loans outstanding
Bank loans to businesses, net change
Bank rates-See Interest rates.
Bank reserves
Free reserves
Member bank borrowing from Federal Reserve
Bonds-See Interest rates.
Borrowing-See Credit.
Budget-See Government.
Building-See Construction.
Building permits, new private housing
Business equipment, industrial production
Business expenditures, new plant and equipment
Business expenditures, new plant and equipment, Dl . . . .
Business failures, current liabilities
Business inventories-See Inventories.
Business loans-See Bank loans.
Business saving
.
.
.
.
72
112
15,35
32
73
72
3/82
3/82
43
43
93
94
33
33
72
72
1/82
1/82
45
45
29
76
61
970
14
12
13
13,25
24
24
38
33
12,23
23
67
67
67
76
72
65
65
7/81
7/81
3/81
3/81
12/81
12/81
3/82
35
24
34
34
44
32
32
295
46
82
5/81
37
C
Canada-See International comparisons.
Capacity utilization
Manufacturing (BEA)
83
Manufacturing (FRB)
82
Materials
84
Capital appropriations, manufacturing
Backlog
97
Newly approved
11
Newly approved, Dl
965
Capital investment-See Investment, capital.
Capital investment commitments, Cl
914
Cash flow, corporate, constant dollars .35
Cash flow, corporate, current dollars
34
Civilian labor force-See also Employment.
Employment
442
Employment as percent of population
90
441
Total
Unemployed
37
Coincident indicators, four
Composite index
920
Composite index rate of change
920c
Diffusion index
951
Ratio to lagging indicators, composite index
940
Commercial and industrial buildings, contracts awarded . . 9
Commercial and industrial loans outstanding
72
Commercial and industrial loans outstanding, net change .
112
Compensation
Compensation, average hourly, all employees,
nonfarm business sector
345
Compensation, average hourly, all employees,
nonfarm business sector, percent changes
345c
Compensation of employees
280
Compensation of employees, percent of national
64
income
Compensation, real average hourly, all employees,
nonfarm business sector
346
Compensation, real average hourly, all employees,
nonfarm business sector, percent changes
346c
Earnings, average hourly, production workers,
private nonfarm economy
340
Earnings, average hourly, production workers,
private nonfarm economy, percent changes
340c
Earnings, real average hourly, production
341
workers, private nonfarm economy
Earnings, real average hourly, production
341 c
workers, private nonfarm economy, percent changes .
Wage and benefit decisions, first year
348
Wage and benefit decisions, life of contract
349
Wages and salaries, mining, manufacturing, and
construction
53
20
20
20
64
64
64
8/81
8/81
8/81
25
25
25
24
24
37
66
66
75
10/81
10/81
10/81
33
33
33
11
29
29
60
70
70
11/81
4/81
4/81 ,
15
37
37
51
18
51
18,51
89
62
89
62,89
4/82 •
3/82
4/82
3/82
20
20
20
20
10
39
36
11
23
15,35
32
60
74"
60
66
73
72
11/81
11/81
2/82
11/81
3/82
3/82
3/82
< 5 ..
49
87
1/82
56
50
45
87
82
1/82
5/81
56
56
30,47
70,83
4/81
56
49
88
1/82
56
15
15
32
43
43
50
88
1/82
56
49
87
11/81
15
50
87
11/81
15
49
87
11/81
15
50
50
50
87
88
88
11/81
8/81
8/81
15
62
62
19
63
3/82
22
Series titles
(See complete titles in "Titles and Sources of
Series," following this index)
Composite indexes
Coincident indicators
Four coinciders
Four coinciders, rate of change
Ratio to lagqing indicator index
Lagging indicators
Six laggers
Six laggers, rate of change
Leading indicators
Capital investment commitments
Inventory investment and purchasing
Marginal employment adjustments
Money and financial flows
. ..
Profitability
Twelve leaders
Twelve leaders, rate of change
Construction
Building permits, new private housing
Contracts awarded, commercial and industrial bldgs. . .
Expenditures, plus machinery and equipment sales ....
Gross private domestic fixed investment
Nonresidential, as percent of GNP
Nonresidential structures, constant dollars
Nonresidential, total, constant dollars
Residential as percent of GNP
Residential, total, constant dollars
Housing starts
Consumer finished goods-See Wholesale prices.
Consumer goods and materials, new orders
Consumer goods, industrial production
Consumer installment debt
Debt outstanding
Net change
Ratio to personal income
Consumer installment loans delinquency rate
Consumer prices-See also International comparisons.
All items, index
All items, percent changes
Food index
.
Food, percent changes
Consumer sentiment, index
Consumption expenditures-See Personal consumption
expenditures.
Contracts and orders, plant and equipment, constant dol. .
Contracts and orders, plant and equipment, current dol. . .
Corporate bond yields
Corporate profits-See Profits.
Costs-See Labor costs and Price indexes.
Credit
Bank loans to businesses net change
Borrowing total private
Commercial and industrial loans outstanding
Consumer installment debt
Debt outstanding
Net change
Ratio to personal income
Consumer installment loans, delinquency rate
Mortgage debt, net change
Crude materials-See Wholesale prices.
Current issue
(page numbers)
Series
number
Charts
920
920c
940
10
39
11
60
930
930c
10
39
60
11/81
11/81
15
914
915
913
917
916
910
910C
11
11
11
11
11
10
39
60
60
60
60
60
60
11/81
11/81
11/81
11/81
11/81
11/81
11/81
15
15
15
15
15
15
29
9
69
13,25
23
24
67
66
67
7/81
3/82
9/81
35
32
28
248
87
86
249
89
28
47
25
25
47
25
25
83
67
67
83
67
67
4/81
4/81
4/81
4/81
4/81
3/82
51
51
51
51
51
35
8
75
12,21
22
64
65
3/82
7/81
26
24
66
113
95
39
35
32
15,35
33
73
72
73
72
5/82
5/82
5/82
2/82
43
43
43
45
320
320c
322
322c
58
49
49,59
49
49
22
84,95
84,95
84
84
65
5/82
5/82
5/82
5/82
1/82
59
59
59
59
31
20
10
116
12,23
23
34
66
66
73
3/82
3/82
2/82
32
32
46
112
110
72
32
32
15,35
72
72
73
3/82
1/82
3/82
43
44
43
66
113
95
39
33
35
32
15,35
33
32
73
72
73
72
71
5/82
5/82
5/82
2/82
3/82
43
43
43
45
42
525
564
548
517
53
55
53
53
90
91
90
90
4/82
5/81
10/81
3/81
64
53
26
39
32
33
12,21
72
64
2/82
2/82
45
28
970
965
951
974
963
967
38
37
36
38
36
37
3/81
10/81
2/82
1/82
9/81
1/82
34
33
15
48
15
36
966
37"
12/80
24
962
975
952
950
964
36"
38
36
36
37
l'/82
1/82
2/82
2/82
9/81
48
15
15
26
971
968
976
978
977
960
972
973
961
38"
37
38
38
38
37
38
38
36
76
75
74
76
74
75
79
75
78
74
76
74
74
75
77
76
75
76
76
76
75
76
76
74
77
60"
11/81
11/81
11/81
15
15"
D
Debt-See Credit.
Defense
Military prime contract awards
National defense purchases
New orders, defense products
Obligations incurred
Deficit-See Government.
Deflators-See Price indexes.
Delinquency rate consumer installment loans
Deliveries vendor performance
Diffusion indexes
Business expenditures, new plant and equipment
Capital appropriations, manufacturing
Coincident indicators
Employees manufacturing and trade
Employees on private nonagricultural payrolls
industrial materials prices
Industrial materials prices components
Industrial production
Industrial production, components
Initial claims, State unemployment insurance
Inventories, manufacturing and trade
Lagging indicators
Leading indicators
New orders, durable goods industries
New orders, durable goods industries, components
New orders manufacturing
Prices 500 common stocks
Prices selling manufacturing
Prices selling retail trade
Prices, selling, wholesale trade
Profits, manufacturing
Profits, net, manufacturing and trade
Sales, net, manufacturing and trade
Workweek mfg production workers
Workweek, mfg. production workers, components ....
Disposable personal income-See Income.
NOTE: CI, composite index; Dl, diffusion index; GPDI, gross private domestic investment; NIPA, national income and product accounts.
*The number shown indicates the page on which the series description appears in the HANDBOOK OF CYCLICAL INDICATORS (1977).
110
Tables
Series
Historical
data
descriptions
(issue date)
(*)
1/82
2/82
1/82
1/82
1/82
8/81
1/82
1/82
9/81
is"
48"
36
48
49
48
48"
48
15
ALPHABETICAL INDEX-SERIES FINDING GUIDE-Continued
Series titles
(See complete titles in "Titles and Sources of
Series," following this index)
Current issue
(page numbers)
Series
Charts
Tables
Historical
Series
data
escriptions
(issue date)
(*)
E
Earnings-See Compensation.
Employment and unemployment
Accession rate, manufacturing
Civilian labor force, total
Employee hours in nonagricultural
establishments
Employee hours in nonagricultural
establishments, rate of change
Employees in mining, mfg., and construction
Employees manufacturing and trade Dl
Employees on nonagricultural payrolls
Employees on private nonag. payrolls, Dl
Employment ratio to population
Employment, total civilian
Help-wanted advertising in newspapers
Help-wanted advertising, ratio to unemployment
Initial claims, State unemployment insurance
Initial claims, State unemployment insurance, Dl
Layoff rate, manufacturing
Marginal employment adjustments, Cl
Overtime hours, mfg. production workers
Participation rate, both sexes, 16-19 years old
Participation rate, females 20 years and over
Participation rate, males 20 years and over
Part-time workers for economic reasons
Persons engaged in nonagricultural activities
Quit rate, manufacturing
Unemployed, both sexes, 16-19 years old
Unemployed, females 20 years and over
Unemployed full-time workers
Unemployed males 20 years and over
Unemployment average duration
Unemployment rate 1 5 weeks and over
Unemployment rate, insured, average weekly
Unemployment rate, total
Unemployment, total civilian
Workweek, mfg. production workers
Workweek, mfg. production workers, components ....
Workweek, mfg. production workers, Dl
Equ pment-See Investment, capital.
Exports-See Foreign trade and International transactions.
2
441
16
51
61
89
8/81
4/82
18
20
48
17
61
1/82
15
48c
40
974
41
963
90
442
46
60
5
962
3
913
21
453
452
451
448
42
4
446
445
447
444
91
44
45
43
37
1
39
17
38
14,17
36
18
51
17
17
12,16
36
16
11
16
51
51
51
51
17
16
51
51
51
51
15,18
18
18
18
18,51
12,16
961
36"
1/82
8/81
15"
48
1/82
8/81
15
9/81
15
3/82
20
4/82
20
11/80 19
3/82
19
2/82
18
1/82
18
8/81
18
11/81 15
8/81 , 15
4/82
20
4/82
20
4/82
20
4/82
20
3/82
20
8/81
18
4/82
20
4/82
20
4/82
20
4/82
20
3/82
20
3/82
r:o
3/82
18
3/82
20
3/82
20
8/81
15
62"
76
-62
74
62
89
61
61
61
74
61
60
61
89
89
89
89
62
61
89
89
89
89
62
62
62
62
62,89
61
77
74
9/81
IB"
F
Federal funds rate
Federal Government-See Government.
Federal Reserve, member bank borrowing from
Final sales in constant dollars
Financial flows, and money, Cl
Fixed investment-See Investment, capital.
Fixed weighted price index, NIPA
Fixed weighted price index, percent changes, NIPA
Food-See Consumer prices.
Foreign trade-See also International transactions.
Balance on goods and services
Balance on merchandise trade
Exports merchandise adjusted exc military
Exports, merchandise, total exc, military aid
Exports of agricultural products
Exports of goods and services, constant dol., NIPA
Exports of goods and services, current dol., NIPA
Exports of goods and services, exc. military
Exports of nonelectrical machinery
Imports, merchandise, adjusted, exc. military
Imports merchandise total
.
mports of automobiles and parts
mports of goods and services, constant dol., NIPA ....
mports of goods and services, current dol., NIPA
mports of goods and services, total
mports of petroleum and products
Net exports, goods and services, constant dol., NIPA
Net exports, goods and services, current dol., NIPA . . .
Net exports, goods and services, percent of GNP, NIPA
France-See International comparisons.
Free reserves
119
34
72
2/82
46
94
213
917
33
40
11
72
80
60
1/82
5/81
11/81
45
49
15
311
311c
48
48
84
84
5/81
5/81
58
59
667
622
618
602
604
256
252
668
606
620
612
616
257
253
669
614
255
250
251
57
57
57
56
56
44
44
57
56
57
56
56
44
44
57
56
44
44
47
93
93
93
92
92
82
82
93
92
93
92
92
82
82
93
92
82
82
83
8/81
3/81
5/82
12/81
5/81
4/81
8/81
12/81
8/81
5/82
12/81
5/81
5/81
8/81
12/81
5/81
4/81
4/81
65
65
65
64
64
54
54
65
64
65
64
64
54
54
65
64
54
54
54
93
33
72
1/82
45
49
20
63
4/81
25
502
501
500
512
511
510
298
52
52
52
52
52
52
46
90
90
90
90
90
90
83
5/81
5/81
5/81
5/81
5/81
5/81
5/81
62
62
62
62
62
62
58
263
262
265
564
267
266
268
261
260
43
43
47
55
43
43
47
43
43
81
81
83
91
81
81
83
81
81
5/81
5/81
5/81
5/81
5/81
5/81
5/81
5/81
5/81
53
53
53
53
53
• 53
53
53
53
:
8/81
G
Goods output in constant dollars
Government budget, NIPA
Federal expenditures
Federal receipts
Federal surplus or deficit
State and local expenditures
State and local receipts
State and local surplus or deficit
Surplus or deficit total
Government purchases of goods and services
Federal, constant dollars
Federal, current dollars
Federal, percent of GNP
National defense
State and local constant dollars
State and local current dollars
State and local, percent of GNP
Total, constant dollars
Total, current dollars
.
... .
Series titles
(See complete titles in "Titles and Sources of
Series," following this index)
Gross business product
Fixed weighted price index
Fixed weighted price index percent changes
Gross domestic product labor cost per unit .
....
Gross national product
GNP constant dollars
GNP constant dollars differences
GNP, constant dollars, percent changes
GNP current dollars
GNP, current dollars, differences
GNP, current dollars, percent changes
GNP ratio to money supply
Goods output in constant dollars
""
Implicit price deflator
Implicit price deflator percent changes
Per capita GNP constant dollars
Gross private domestic invest.-See Investment, capital.
Current issue
(page numbers)
Series
Charts
Tables
Series
Historical
data descriptions
(issue date)
(*)
311
311c
68
48
48
30
84
84
70
5/81
5/81
4/81
58
59
39
50
50b
50c
200
200b
200c
107
49
310
310c
217
19,40
31 "
20
48
48
40
63,80
80
80
80
80
80
71
63
84
84
80
5/81
5/81
5/81
5/81
5/81
5/81
8/81
4/81
5/81
5/81
8/81
49
49
49
49
49
49
40
25
49
49
49
46
60
17
17
61
61
11/80
3/82
19
19
21
1
16
12,16
8/81
8/81
15
15
39"
40
H
Help-wanted advertising in newspapers
Help-wanted advertising ratio to unemployment . . .
Hours of production workers, manufacturing
Average weekly overtime
.
Average workweek
.
Average workweek, components
Average workweek Dl
Housing
Housing starts
Housing units authorized by local bldg permits
Residential GPDI constant dollars
Residential GPDI percent of GNP
961
36
61
61
77
74
9/81
is"
28
29
89
249
25
13,25
25
47
67
67
67
83
3/82
7/81
4/81
4/81
35
35
51
51
310
310c
48
48
84
84
5/81
5/81
49
49
345
49
87
1/82
56
87
82
70,83
1/82
5/81
4/81
56
56
56
1
Implicit price deflator GNP
Implicit price deflator GNP percent changes
Imports-See Foreign trade and International transactions.
Income
Compensation, average hourly, all employees,
nonfarm business sector
Compensation, average hourly, all employees,
nonfarm business sector percent changes
Compensation of employees
Compensation of employees, pet. of nat'l. income
Compensation, real average hourly, all employees,
nonfarm business sector
Compensation, real average hourly, all employees,
nonfarm business sector percent changes
Consumer installment debt, ratio to personal income . .
Corporate profits with IVA and CCA
Corp. profits with IVA and CCA, pet. of nat'l. income .
Disposable personal income constant dollars
Disposable personal income current dollars
Disposable personal income, per capita, constant dol. . .
Earnings, average hourly, production workers,
private nonfarm economy
Earnings, average hourly, production workers,
private nonfarm economy, percent changes
Earnings, real average hourly, production
workers private nonfarm economy
Earnings, real average hourly, production
workers, private nonfarm economy, percent changes .
Income on foreign investment in the U S
Income on U S investments abroad
Interest net
Interest net percent of national income
National income
Personal income, constant dollars
Personal income, current dollars
Personal income less transfers constant dollars
Personal income, less transfers, constant dots, rate of chg.
Personal income, ratio to money supply
Proprietors' income with IVA and CCA
Proprietors' income with IVA and CCA, percent
of national income
Rental income of persons with CCA
Rental income of persons with CCA, pet. of nat'l. income
Wage and benefit decisions first year
Wage and benefit decisions life of contract .
. .
Wages and salaries, mining, mfg., and construction
Incorporations, new businesses
Industrial materials prices
Industrial materials prices components
Industrial materials prices Dl
Industrial production - See also International comparisons.
Business equipment
Consumer goods
Durable manufactures
Nondurable manufactures
Total
. . .
Total components
. .
Total Dl
Total rate of change
Installment debt-See Credit.
Insured unemployment
Avg. weekly initial claims, unemploy. insurance ......
Avg. weekly initial claims, unemploy. insurance, Dl . . .
Avg weekly insured unemployment rate
345c
280
64
50
45
30,47
346
49
88
1/82
56
346c
95
286
287
225
224
227
50
15,35
45
47
40
40
40
88
73
82
83
80
80
80
1/82
5/82
5/81
5/81
4/81
4/81
8/81
56
43
37
37
22
22
22
340
49
87
11/81
15
340c
50
87
11/81
15
341
49
87
11/81
15
341 c
652
651
288
289
220
52
223
51
51c
108
282
50
57
57
45
47
45
19
40
14,19
39
31
45
87
93
93
82
83
82
63
63
63
11/81
8/81
8/81
5/81
5/81
4/81
6/81
6/81
10/81
10/81
5/82
5/81
15
65
65
57
57
55
22
22
22
283
284
285
348
349
53
13
23
47
45
47
50
50
19
23
28
83
82
83
88
88
63
65
69
79
75
5/81
5/81
5/81
8/81
8/81
3/82
3/82
1/82
56
57
57
62
62
22
32
36
i/82
36*'
67
65
63
63
63,94
78
75
7/81
7/81
7/81
7/81
7/81
24
24
24
24
24
12/80
7/81
24"
2/82
1/32
3/82
18
18
18
967
76
75
73
74
47
37
24
22
20
20
14,20,B8
966
47c
37
39
5
962
45
12,16
36
18
7l"
82
61
74
62
46"
56
NOTE: Cl, composite index; Dl, diffusion index; GPDI, gross private domestic investment; NIPA, national income and product accounts.
*The number shown indicates the page on which the series description appears in the HANDBOOK OF CYCLICAL INDICATORS (1977).
111
ALPHABETICAL INDEX-SERIES FINDING GUIDE-Continued
Series titles
(See complete titles in "Titles and Sources of
Series," following this index)
Interest, net
Interest, net, percent of national income
Interest rates
Bank rates on short-term business loans
Corporate bond yields
Federal funds rate
Mortgage yields, secondary market
Municipal bond yields
Prime rate charged by banks
Treasury bill rate
Treasury bond yields
Intermediate materials-See Wholesale prices.
International comparisons
Consumer prices
Canada index
Canada percent changes
France, index
France, percent changes
Italy index
Italy, percent changes
Japan index
. .
...
Japan percent changes
United Kingdom index
United Kingdom, percent changes
United States index
United States percent changes
West Germany index
West Germany, percent changes
Industrial production
Canada
France
Italy . . .
Japan
OECD, European countries
United Kingdom
United States
West Germany
.
Stock prices
Canada
France
Italy
Japan
United Kingdom
United States
West Germany
International transactions-See also Foreign trade.
Balance on goods and services
Balance on merchandise trade
Exports, merchandise, adjusted, exc. military
Exports merchandise total exc military aid ... .
Exports of agricultural products
Exports of goods and services, exc. military
Exports of nonelectrical machinery
. ,
Imports, merchandise, adjusted, exc. military
Imports merchandise total
.
. .
Imports of automobiles and parts
Imports of goods and services, total
Imports of petroleum and products
Income on foreign investments in U.S
Income on U.S. investments abroad
Inventories
Business inventories, change, constant dollars
Business inventories, change, current dollars
Business inventories, change, percent of GNP
Finished goods, manufacturers'
Inventories on hand and on order, net change
Inventories to sales ratio, mfg. and trade (deflated) ....
Inventory investment and purchasing Cl
Manufacturing and trade constant dollars
Manufacturing and trade current dollars
Manufacturing and trade, current dollars, change
Manufacturing and trade Dl
Materials and supplies on hand and on order, mfg
Materials and supplies on hand and on order, mfg.,
change
Investment, capital
Capital appropriations manufacturing backlog
Capital appropriations, manufacturing, new
Capital appropriations, manufacturing, new, Dl
Capital investment commitments, Cl
Construction contracts, commercial and industrial ....
Construction expenditures, business and machinery
and equipment sales
Gross private domestic investment
Fixed investment, constant dollars
Fixed investment, current dollars
Inventories, business, change in-See Inventories.
Nonresidential, total constant dollars
Nonresidential, total, percent of GNP
Producers' durable equip., nonresid., constant do!. . .
Residential, total, constant dollars
Residential, total, percent of GNP
Structures, nonresidential, constant dollars
Total, constant dollars
.
.
.
.
Total current dollars
New orders, capital goods, nondef ense, constant
dollars
New orders, capital goods, nondefense, current
dollars
Current issue
(page numbers)
Series
number
Charts
Historical
Series
data
descriptions
(issue date)
(*)
Tables
288
289
45
47
82
83
5/81
5/81
57
57
67
116
119
118
117
109
114
115
35
34
34
34
34
35
34
34
73
73
72
73
73
73
72
73
8/81
2/82
2/82
2/82
2/82
2/82
2/82
2/82
46
46
46
46
46
46
46
46
Series titles
(See complete titles in "Titles and Sources of
Series," following this index)
Current issue
(page numbers)
Series
number
Plant and equipment
Business expenditures, new
Business expenditures new Dl
Contracts and orders constant dollars
Contracts and orders current dollars
Investment, foreign
Income on foreign investments in U S
Income on U S investments abroad
Italy-See International comparisons.
Charts
61
970
20
10
24
38
12,23
23
67
76
66
66
3/81
3/81
3/82
3/82
34
34
32
32
652
651
57
57
93
93
8/81
8/81
65
65
68
62
63
26
30
15,30
30
29
70
70
70
70
4/81
6/81
1/82
12/81
39
39
39
930
930c
952
3
10
39
36
16
60
11/81
11/81
2/82
8/81
15
910
910c
950
14
104
10
39
36
33
13,31
60
11/81
11/81
2/82
12/81
5/82
15
74"
72
71
44
40
913
78
11
27
60
68
11/81
9/81
15
28
38
26
68
9/81
28
8
84
12,21
20
64
64
3/82
8/81
26
25
917
11
60
11/81
15
104
105
85
106
102
107
108
33
118
117
T3,31
31
31
13,31
31
31
31
32
34
34
71
71
71
71
71
71
71
71
73
73
5/82
5/82
5/82
5/82
5/82
8/81
5/82
3/82
2/82
2/82
40
40
40
40
40
40
40
42
46
46
27
24
8
20
10
548
7
6
23
23
12,21
12,23
23
53
21
21
66
66
64
66
66
90
64
964
971
37
38
88
87
86
248
J
Japan-See International comparisons.
59*
96
96
95
95
96
96
95
95
95
95
84,95
84,95
95
95
723
726
727
728
721
111
47
725
58
58
58
58
58
58
14,20,58
58
94
94
94
94
94
94
63,94
94
743
746
747
748
742
19
745
59
59
59
59
59
59
59
667
622
618
602
604
668
606
620
612
616
669
614
652
651
733
733c
736
736c
737
737c
738
738c
732
732c
320
320c
735
735c
59"
59"
59*'
59"
59
49
49,59
4/82
4/82
4/82
4/82
4/82
4/82
4/82
4/82
4/82
4/82
5/82
5/82
4/82
4/82
68
68
68
68
69
69
69
69
68
68
59
59
68
68
12/81
12/81
12/81
12/81
12/81
12/81
7/81
12/81
66
66
66
66
66
66
24
66
96
96
96
96
96
96
96
7/81
7/81
7/81
7/81
7/81
6/79
7/81
70
70
70
70
70
36
70
57
57
57
56
56
57
56
57
56
56
57
56
57
57
93
93
93
92
92
93
92
93
92
92
93
92
93
93
8/81
8/81
8/81
5/82
12/81
8/81
12/81
8/81
5/82
12/81
8/81
12/81
8/81
8/81
65
65
65
64
64
65
64
65
64
64
65
64
65
65
30
245
247
65
36
77
915
70
71
31
975
78
26,42
42
47
27
13,26
27
15,27
27
26
38
27
68,81
81
83
68
68
68
60
68
68
68
76
68
4/81
4/81
4/81
9/81
3/82 j
10/81
11/81
10/81
10/81
9/81
1/82
9/81
51
51
51
28
28
28
15
28
28
28
48
28
38
26
68
9/81
28
10/81
10/81
10/81
11/81 3/82
33
33
33
15
32
.
L
Labor cost per unit of gross domestic product
Labor cost per unit of output, manufacturing
Labor cost per unit of output, private business sector
Labor cost, price per unit of, nonfarm business
Labor force-See Employment and unemployment.
Lagging indicators, six
Composite index
.
.
Composite index rate of change
Diffusion index
Layoff rate manufacturing
Leading indicators, twelve
Composite index
Composite index, rate of change
Diffusion index .
.
Liabilities of business failures
Liquid assets, change in total
Loans-See Credit.
74"
61
15
18
is"
M
Man-hours-See Employment and unemployment.
Marginal employment adjustments, Cl
Materials and supplies on hand and on order, mfg
Materials and supplies on hand and on order, rnfg.
change
Materials, crude and intermediate-See Wholesale prices.
Materials, industrial-See Price indexes.
Materials, new orders for consumer goods and
Materials, rate of capacity utilization
Merchandise trade-See Foreign trade.
Military-See Defense.
Money and financial flows Cl
Money supply
Liquid assets change in total
Money supply Ml
.
...
Money supply Ml percent changes
Money supply M2
Money supply M2 percent changes
Ratio GNP to money supply Ml
Ratio personal income to money supply M2
Mortgage debt net change . . .
...............
Mortage yields secondary market
Municipal bond yields
N
n
97
11
965
914
9
24
24
37
23
66
66
75
60
66
69
24
67
9/81
28
243
242
42
42
81
81
4/81
4/81
51
51
86
248
88
89
249
87
241
240
25
47
25
25
47
25
42
42
67
83
67
67
83
67
81
81
4/81
4/81
4/81
4/81
4/81
4/81
4/81
4/81
51
51
51
51
51
51
51
51
27
23
66
9/81
26
24
23
66
9/81
26
n
National defense-See Defense.
National Government-See Government.
National income-See Income.
New orders, manufacturers'
Capital goods industries, nondefense, constant dot
Capital goods industries, nondefense, current dol. .....
Consumer goods and materials constant dollars
Contracts and orders, plant and equip., constant dol. . .
Contracts and orders, plant and equip., current dol. . . .
Defense products
Durable goods industries constant dollars
Durable goods industries, current dollars
Diffusion index
New orders, manufacturing, Dl
Nonresidential fixed investment, GPDI
Producers' durable equipment, constant dollars
Structures constant dollars
Total constant dollars
Total percent of GNP
9/81
9/81
3/82
3/82
3/82
10/81
3/82
3/82
26
26
26
32
32
26
26
26
75
76
9/81
1/82
26"
48
25
25
25
47
67
67
67
83
4/81
4/81
4/81
4/81
51
51
51
51
517
721
53
58
90
94
3/81
12/81
66
49
62
358
370
370c
83
82
84
21
20
15,30
50
50
50
20
20
20
16
63
70
88
88
88
64
64
64
61
4/81
25
6/81 , 30
10/81
61
12/81
61
12/81
61
8/81
25
8/81
25
8/81
25
8/81
15
%
O
Obligations incurred, Defense Department
OECD, European countries, industrial production
Orders-See New orders and Unfilled orders.
Output-See also Gross national product and
Industrial production.
Goods output constant dollars
Labor cost per unit of
Per hour nonfarm business sector
Per hour private business sector
Per hour, private business sector, percent changes
Ratio to capacity, manufacturing (BEA)
Ratio to capacity, manufacturing (FRB)
Ratio to capacity, materials
Overtime hours, production workers, manufacturing ....
NOTE: Cl, composite index; Dl, diffusion index; GPDI, gross private domestic investment; NIPA, national income and product accounts.
*The number shown indicates the page on which the series description appears in the HANDBOOK OF CYCLICAL INDICATORS (1977).
112
Tables
Historical Series
data
descuptions
(issue date)
(*)
ALPHABETICAL INDEX-SERIES FINDING GUIDE-Continued
Series titles
(See complete titles in "Titles and Sources of
Series," following this index)
Current issue
(page numbers)
Series
Charts
Tables
Historical
Series
data
descriptions
(issue date)
(*)
P
Participation rates, civilian labor force
Both sexes, 1 6-1 9 years of age
Females 20 years and over
Males 20 years and over
Personal consumption expenditures
Automobiles
Durable goods constant dollars
Durable goods, current dollars
Nondurable goods constant dollars
Nondurable goods current dollars
Services constant dollars
Total constant dollars
Total, current dollars
Total, percent of G NP
Personal income-See Income.
Personal saving
Personal saving rate
Petroleum and products imports
Plant and equipment-See also Investment, capital.
Business expenditures for
Contracts and orders for, constant dollars
Contracts and orders for, current dollars
Population, civilian employment as percent of
Price indexes
Consumer prices-See also International comparisons.
All items, percent changes
Food, index
Food percent changes
Deflators NIPA
Fixed weighted, gross business product, index
Fixed weighted, gross business product, pet. changes
Implicit price deflator GNP index
Implicit price deflator, GNP, percent changes
Industrial materials
Industrial materials components
Industrial materials Dl
Labor cost, price per unit of
Sensitive prices, change in
Stock prices-See also International comparisons.
500 common stocks
500 common stocks, Dl
Wholesale prices
All commodities, index
All commodities percent change
Consumer finished goods, index
Consumer finished goods, percent changes
Crude materials, index
Crude materials, percent changes
Intermediate materials index . . .
Intermediate materials percent changes
....
Producer finished goods, index
Producer finished goods, percent changes
Price to unit labor cost nonfarm business
Prices, selling
Manufacturing, Dl
Retail trade, Dl
Wholesale trade Dl
Prime contracts military
Producer finished goods-See Wholesale prices.
Producers' durable equipment, nonresid., GPDI
Production-See Industrial production and GNP.
Productivity
Output per hour, nonfarm business sector
Output per hour, private business sector
Output per hour, private business sector, pet. changes .
Profitability, Cl
Profits
Corporate after taxes constant dollars
Corporate after taxes current dollars
Corporate, after taxes, with I VA and CCA,
constant dollar
. . .
Corporate, after taxes, with I VA and CCA, cur. dol
Corporate, with IVA and CCA
Corporate, with IVA and CCA, pet. of nat'l. income . . .
Manufacturing and trade Dl
Manufacturing Dl
Per dollar of sales, manufacturing
Profitability, Cl
Ratio, profits with IVA and CCA to corporate domestic
income
Proprietors' income with IVA and CCA
Proprietors' income with IVA and CCA, pet. of nat'l. inc. .
453
452
451
51
51
51
89
89
89
4/82
4/82
4/82
20
20
20
55
233
232
238
236
239
237
231
230
235
22
41
41
41
41
41
41
41
41
47
65
80
80
81
81
81
81
80
80
83
4/81
4/81
4/81
4/81
4/81
4/81
4/81
4/81
4/81
4/81
50
50
50
50
50
50
50
50
50
50
292
293
614
46
46
56
82
83
92
5/81
5/81
12/81
58
58
64
61
970
20
10
90
24
38
12,23
23
18
67
76
66
66
62
3/81
3/81
3/82
3/82
3/82
34
34
32
32
20
320
49
320c
49,59
84,95
84,95
322
322c
49
49
84
84
5/82
5/82
5/82
5/82
59
59
59
59
311
311c
310
310c
23
48
48
48
48
28
5/81
5/81
5/81
5/81
1/82
58
59
49
49
36
967
26
92
37
29
13,28
84
84
84
84
69
79
75
70
69
1/82
12/81
3/82
36"
60"
19
968
13,28
37
69
75
3/81
2/82
36
36
330
85
85
86
86
85
85
86
86
86
86
70
5/82
5/82
6/81
6/81
5/82
5/82
6/81
6/81
6/81
6/81
12/81
59
59
60
60
60
60
60
60
60
60
26
48
48
48
48
48
48
48
48
48
48
29
976
978
977
525
109
38
38
38
53
35
76
76
76
90
73
1/82
1/82
1/82
4/82
2/82
48
49
48
64
46
88
25
67
4/81
51
358
370
916
50
50
50
11
88
88
88
60
10/81
12/81
12/81
11/81
61
61
61
15
18
16
28
28
69
69
4/81
4/81
37
37
80
79
286
287
972
960
15
916
22
28
28
45
47
38
37
29
11
29
69
69
82
83
76
75
70
60
69
4/81
4/81
5/81
5/81
1/82
8/81
7/80
11/81
4/81
37
37
37
37
48
81
282
283
29
45
47
70
82
83
4/81
5/81
5/81
37
56
56
4
16
61
8/81
18
330c
334
334c
331
331 c
332
332c
333
333c
370c
38*'
15
37
Q
Quit rate manufacturing
R
Rental income of persons, with CCA
Rental income of persons, with CCA, percent of national
income
284
45
82
5/81
57
285
47
83
5/81
57
Series titles
(See complete titles in "Titles and Sources of
Series," following this index)
Reserves, free
Residential fixed investment, constant dollars, GPDI . . . .
Residential fixed investment, percent of GNP
Residential structures-See Housing.
Retail sales, constant dollars
Retail sales, current dollars
Current issue
(page numbers)
Series
Charts
Series
Historical
descriptions
data
(issue date)
(*)
Tables
93
89
249
33
25
47
72
67
83
1/82
4/81
4/81
45
51
51
59
54
22
22
65
65
10/81
10/81
31
31
213
40
80
5/81
49
28
28
28
48
28
31
31
s
Salaries-See Compensation.
Sales
Final sales constant dollars
Machinery and equipment sales and business
construction expenditures
Manufacturing and trade sales, constant dollars
Manufacturing and trade sales, current dollars
Manufacturing and trade sales, Dl
Ratio, inventories to sales, mfg. and trade
Retail sales, constant dollars
Retail sales current dollars
Saving
Business saving
Government surplus or deficit
Gross saving, private and government
Personal saving
Personal saving rate
Selling prices-See Prices, selling.
Sensitive prices change in
State and local government-See Government.
Stock prices-See also International comparisons.
500 common stocks
500 common stocks, 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.
69
57
56
973
77
59
54
24
14,22
22
38
27
22
22
67
65
65
76
68
65
65
9/81
10/81
10/81
1/82
10/81
10/81
10/81
295
298
290
292
293
46
46
46
46
46
82
83
82
82
83
5/81
5/81
5/81
5/81
5/81
37
58
58
58
58
92
13,28
69
3/82
60
19
968
78
13,28
37
27
69
75
68
3/81
2/82
9/81
36
36
28
38
26
68
9/81
28
114
115
34
34
72
73
2/82
2/82
46
46
91
60
5
962
3
15,18
17
12,16
36
16
62
61
61
74
61
3/82
3/82
2/82
1/82
8/81
20
19
18
18
18
446
445
447
444
37
4
51
51
51
51
18,51
16
89
89
89
89
61
4/82
4/82
4/82
4/82
3/82
8/81
20
20
20
20
20
18
44
45
43
18
18
18
62
62
62
3/82
3/82
3/82
20
18
20
96
25
21
21
64
64
10/81
9/81
26
26
107
108
32
31
31
12,21
71
71
64
8/81
5/82
2/82
40
40
28
330
92
1
48
48
48
48
48
48
48
48
48
48
13,28
12,16
85
85
86
86
85
85
86
86
86
86
69
61
5/82
5/82
6/81
6/81
5/82
5/82
6/81
6/81
6/81
6/81
3/82
8/81
59
59
60
60
60
60
60
60
60
60
60
15
961
36"
77
74
9/81
IB"
T
Treasury bill rate
Treasury bond yields
U
Unemployment
Duration of unemployment, average
Help-wanted advertising to unemployment, ratio
Initial claims, avg. weekly, unemploy. insurance
Initial claims, avg. weekly, unemploy. insurance, Dl . . .
Layoff rate, manufacturing
Number unemployed, civilian labor force
Both sexes, 16-19 years of age
Females 20 years and over
Full-time workers
Males, 20 years and over
Total unemployed
Quit rate, manufacturing
Unemployment rates
1 5 weeks and over
insured, average weekly
Total
Unfilled orders, manufacturers'
Durable goods industries
Durable goods industries change in
United Kingdom-See International comparisons.
62,89
V
Velocity of money
GNP to money supply Ml, ratio
Personal income to money supply M2, ratio
Vendor performance
W
Wages and salaries-See Compensation.
West Germany-See International comparisons.
Wholesale prices
All commodities index
All commodities, percent changes
Consumer finished goods, index
Consumer finished goods, percent changes
Crude materials index
Crude materials, percent changes
Intermediate materials, index
Intermediate materials, percent changes
Producer finished goods, index
Producer finished goods, percent changes
Sensitive prices, change in
Workweek of production workers, manufacturing
Workweek of production workers, manufacturing,
components
Workweek of production workers, manufacturing, Dl
330c
334
334c
331
331c
332
332c
333
333c
1
NOTE: Cl, composite Index; Dl, diffusion index; GPDI, gross private domestic investment; NIPA, national income and product accounts.
*The number shown indicates the page on which the series description appears in the HANDBOOK OF CYCLICAL INDICATORS (1977).
113
TITLES AND SOURCES OF SERIES
Series are listed below according to the sections of this report
in which they appear. Series numbers are for identification
only and do not reflect relationships or order among the
series. UM" following a series title indicates monthly data;
"Q" indicates quarterly data. Data apply to the whole period
except when indicated by "EOM" (end of month) or "EOQ"
(end of quarter).
To save space, the commonly used sources listed below are
referred to by number:
Source 1—U.S. Department of Commerce, Bureau of
Economic Analysis; Source 2—U.S. Department of Commerce,
Bureau of the Census; Source 3—U.S. Department of Labor,
Bureau of Labor Statistics; Source 4—Board of Governors of
the Federal Reserve System.
Bureau of Economic Analysis
(Used by permission.
This series may not be reproduced without written
permission from the source.)
(23,66)
10. Contracts and orders for plant and equipment in current
dollars (M).—Source 2 and McGraw-Hill Information
Systems Company; seasonal adjustment by Bureau of
the Census and Bureau of Economic Analysis (23,66)
11. Newly approved capital appropriations, 1,000
manufacturing corporations (Q).—The Conference
Board
(24,66)
12. Index of net business formation (M).—Source 1;
seasonal adjustment by Bureau of Economic Analysis
and National Bureau of Economic Research,
Inc.
(12,23,65)
33. Net change in mortgage debt held by financial
institutions and life insurance companies (M).—
American Council of Life Insurance; Federal National
Mortgage Association; U.S. Department of Housing and
Urban Development, Government National Mortgage
Association; National Association of Mutual Savings
Banks; U.S. Savings and Loan League; and source 4;
seasonal a d j u s t m e n t by Bureau of Economic
Analysis
(32,71)
34. Net cash flow, corporate, in current dollars (Q).—
Source 1
(29,70)
35. Net cash flow, corporate, in 1972 dollars (Q).—Source
1
(29,70)
36. Net change in inventories on hand and on order in 1972
dollars (smoothed) (M).-Sources 1, 2, and 3(13,26,68)
Following the source for each series is an indication of the
pages on which that series appears. The "Series Finding
Guide" also lists chart and table page numbers for each
series.
13. Number of new business incorporations (M).—Dun &
Bradstreet, Inc.; seasonal adjustment by Bureau of
Economic Analysis and National Bureau of Economic
Research, Inc.
(23,65)
37. Number of persons unemployed, labor force survey
(M).-Sources 2 and 3
(18,51,62,89)
I-A. Composite Indexes
14. Current liabilities of business failures (M).—Dun &
Bradstreet, Inc.
(33,72)
910. Composite index of twelve leading indicators (includes
series 1, 5, 8, 12, 19, 20, 29, 32, 36, 92, 104, 106)
(M).-Source 1
(10,39,60)
15. Profits (after taxes) per dollar of sales, ail
manufacturing corporations (Q).—Federal Trade Commission; seasonal adjustment by Bureau of Economic Analysis
(29,70)
39. Percent of consumer installment loans delinquent 30
days and over (EOM).—American Bankers
Association
(33,72)
913. Composite index of marginal employment adjustments
(includes series 1, 2, 3, 5) (M).-Source 1 (11,60)
914. Composite index of capital investment commitments
(includes series 12, 20, 29) (M).-Source 1 (11,60)
16. Corporate profits after taxes in current dollars (Q).—
Source 1
(28,69)
915. Composite index of inventory investment and
purchasing (includes series 8, 32, 36, 92) (M).-Source
1
(H60)
18. Corporate profits after taxes in 1972 dollars (Q).Source 1
(28,69)
38. Change in stocks of materials and supplies on hand and
on order, manufacturing (M).—Source 2
(26,68)
40. Number of employees in nonagricultural goodsproducing industries—mining, manufacturing, and
construction (M).-Source 3
(17,62)
41. Number of employees on nonagricultural payrolls,
establishment survey (M).-Source 3
(14,17,62)
42. Number of persons engaged in nonagricultural activities,
labor force survey (M).-Sources 2 and 3
(17,62)
43. Unemployment rate, total (M).-Sources 2 and 3(18,62)
19. Index of stock prices, 500 common stocks (M).—
Standard & Poor's Corporation
(13,28,59,69,96)
44. Unemployment rate, persons unemployed 15 weeks and
over (M).-Sources 2 and 3
(18,62)
917. Composite index of money and financial flows (includes
series 104, 106, 110) (M).-Source 1
(11,60)
20. Contracts and orders for plant and equipment in 1972
dollars (M).-Sources 1, 2, 3, and McGraw-Hill
Information Systems Company
(12,23,66)
45. Average weekly insured unemployment rate, State
programs (M).—U.S. Department of Labor, Employment
and Training Administration
(18,62)
920. Composite index of four roughly coincident indicators
(includes series 41, 47, 51, 57) (M).-Source
1
(10,39,60)
21. Average weekly overtime hours of production workers,
manufacturing (M).—Source 3
(16,61)
46. Index of help-wanted advertising in newspapers (M).—
The Conference Board
(17,61)
930. Composite index of six lagging indicators (includes
series 62, 70, 72, 91, 95, 109) (M).-Source
1
(10,39,60)
22. Ratio of profits (after taxes) to total corporate domestic
income (Q).-Source 1
(29,69)
47. Index of industrial production, total (M).—Source
4
(14,20,39,58,63,78,94)
23. index of spot market prices, raw industrial materials
(M).—Source 3 and Commodity Research Bureau, Inc.
(Used by permission. Beginning with June 1981, this
series may not be reproduced without written permission
from Commodity Research Bureau, Inc.)
(28,69,79)
48. Employee-hours
(M).-Source 3
916. Composite index of profitability (includes series 19, 26,
80) (M).-Source 1
(11,60)
940. Ratio, coincident composite index (series 920) to lagging composite index (series 930) (M).—Source
1
(11,60)
1-B. Cyclical Indicators
1. A v e r a g e w o r k w e e k of production w o r k e r s ,
manufacturing (M).-Source 3
(12,16,61,77)
2. Accession rate, manufacturing (M).—Source 3 (16,61)
3. Layoff rate, manufacturing (M).-Source 3
(16,61)
4. Quit rate, manufacturing (M).-Source 3
(16,61)
5. Average weekly initial claims for
insurance, State programs (M).-U.S.
Labor, Employment and Training
seasonal a d j u s t m e n t by Bureau
Analysis
unemployment
Department of
Administration;
of Economic
(12,16,61)
6. Value of manufacturers' new orders, durable goods
industries, in current dollars (M).-Source 2(21,64,77)
7. Value of manufacturers' new orders, durable goods
industries, in 1972 dollars (M).-Sources 1, 2, and
3
(21,64)
24. Value of manufacturer's new orders, capital goods
industries, nondefense, in current dollars (M).—Source
2
(23,66)
25. Change in manufacturers' unfilled orders, durable goods
industries (M).-Source 2
(21,64)
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)
30. Gross private domestic investment, change in business
inventories, all industries, in 1972 dollars (Q).—Source
1
(26,42,68,81)
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
in
nonagricultural
establishments
(17,39,61)
49. Value of goods output in 1972 dollars (Q).—Source
1
(20,63)
50. Gross national product in 1972 dollars (Q).—Source
1
(19,39,40,63,80)
51. Personal income, less transfer payments, in 1972 dollars (M).-Source 1
(14,19,39,63)
52. Personal income, total, in 1972 dollars (M).-Source
1
(19,63)
53. Wage and salary income in mining, manufacturing, and
construction in 1972 dollars (M).—Sources 1 and
3
(19,63)
54. 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
(17,61)
84. Rate of capacity utilization, materials (Q).-Source
4
(20,64)
61. Business expenditures for new plant and equipment,
total (Q).-Source 1
(24,67)
86. Gross private domestic fixed investment, total
nonresidential, in 1972 dollars (Q).-Source 1 (25,67)
62. Index of labor cost per unit of output, total
manufacturing—ratio, index of compensation of
employees in manufacturing (sum of wages, salaries,
and supplements to wages and salaries) to index of
industrial production, manufacturing (M).—Sources 1
and 4
(15,30,70)
87. Gross private domestic fixed investment, nonresidential
structures, in 1972 dollars (Q).-Source 1 (25,67)
63. Index of unit labor cost, private business sector (Q).—
Source 3
(30,70)
89. Gross private domestic fixed investment, total
residential, in 1972 dollars (Q).-Source 1 (25,67)
64. Compensation of employees as a percent of national
income (Q).-Source 1
(30,47,70,83)
90. Ratio, civilian employment to total population of
working age (M).-Sources 1, 2, and 3
(18,62)
65. Manufacturers' inventories of finished goods, book
value, all manufacturing industries (EOM).-Source
2
(27,68)
91. Average (mean) duration of unemployment in weeks
(M).-Sources 2 and 3
(15,18,62)
66. Consumer installment credit (EOM).-Source 4; FRB
seasonally adjusted net change added to seasonally
adjusted figure for previous month to obtain current
figure
(35,73)
(31,71)
88. Gross private domestic fixed investment, nonresidential
producers' durable equipment, in 1972 dollars (Q).Source 1
(25,67)
92. Change in sensitive crude materials prices (PPI of crude
materials less agricultural products) (smoothed) (M).Sources 1 and 3
(13,28,69)
93. Free reserves (member banks excess reserves minus
borrowings) (M).-Source 4
(33,72)
94. Member bank borrowings from the Federal Reserve
(M).-Source 4
(33,72)
68. Labor cost (current dollars) per unit of gross domestic
product (1972 dollars), nonfinancial corporations—ratio
of current-dollar compensation of employees to real
gross corporate product (Q).-Source 1
(30,70)
95. Ratio, consumer installment credit to personal income
(EOM).-Sources 1 and 4
(15,35,73)
70. Manufacturing and trade inventories in 1972 dollars
(EOM).-Sources 1, 2, and 3
(15,27,68)
71. Manufacturing and trade inventories, total book value,
in current dollars (EOM).-Sources 1 and 2 (27,68)
72. Commercial and industrial loans outstanding, weekly
reporting large commercial banks (M).—Source 4;
seasonal adjustment by Bureau of Economic
Analysis
(15,35,73)
73. Index of industrial production, durable manufactures
(M).-Source 4
(20,63)
74. Index of industrial production,
manufactures (M).-Source 4
nondurable
(20,63)
75. Index of industrial production, consumer goods (M).—
Source 4
(22,65)
76. Index of industrial production, business equipment
(M).-Source 4
(24,67)
77. Ratio, constant-dollar inventories (series 70) to sales
(series 57), manufacturing and trade, total (EOM).Sources 1, 2, and 3
(27,68)
78. Stocks of materials and supplies on hand and on order,
manufacturing (EOM).-Source 2
(27,68)
96. Manufacturers' unfilled orders, durable goods industries
(EOM).-Source 2
(21,64)
97. Backlog of capital appropriations, 1,000 manufacturing
corporations (EOQ).-The Conference Board (24,66)
102. Change in money supply M2 (M).-Source 4 (31,71)
104. Change in total liquid assets (smoothed) (M).-Sources
1 and 4
(13,31,71)
960. Diffusion index of net profits, manufacturing—about
700 companies (Q).-Dun & Bradstreet, Inc. (Used by
permission. This series may not be reproduced without
written permission from the source.)
(35,75)
961. Diffusion index of average workweek of production
workers, manufacturing—20 industries (M).—Sources 1
and 3
(36,74,77)
962. Diffusion index of initial claims for unemployment
insurance, State programs—51 areas (M).—Source 1
and U.S. Department of Labor, Employment and Training
Administration; seasonal adjustment by Bureau of
Economic Analysis
(36,74)
963. Diffusion index of number of employees on private
nonagricultural payrolls—172 industries (M).—Source
3
(36,74)
964. Diffusion index of value of manufacturers' new orders,
durable goods industries—35 industries (M).—Sources
1 and 2
(37,75,77)
965. Diffusion index of newly approved capital
appropriations, deflated—17 manufacturing industries
(Q).-The Conference Board
(37,75)
966. Diffusion index of industrial production-24 industries
(M).-Sources 1 and 4
(37,75,78)
967. Diffusion index of spot market prices, raw industrials—
13 industrial materials (M).—Sources 1, 3, and
Commodity Research Bureau, Inc.
(35,75,79)
970. Diffusion index of business expenditures for new plant
and equipment, total—18 industries (Q).—Source
1
(38,76)
107. Ratio, gross national product to money supply Ml
(Q).-Sources 1 and 4
(31,71)
108. Ratio, personal income to money supply M2 (M).—
Sources 1 and 4
(31,71)
109. Average prime rate charged by banks (M).-Source
4
(35,73)
110. Total funds raised by private nonfinancial borrowers in
credit markets (Q).-Source 4
(32,72)
112. Net change in bank loans to businesses (M).—Source 4;
seasonal adjustment by Bureau of Economic
Analysis
(32,72)
115. Yield on long-term Treasury bonds (M).—U.S.
Department of the Treasury
(34,73)
952. Diffusion index of six lagging indicator components
(M).-Source 1
(36,74)
106. Money supply M2 in 1972 dollars (M).-Sources 1, 3,
and 4
(13,31,71)
80. Corporate profits after taxes with inventory valuation
and capital consumption adjustments in 1972 dollars
(Q).-Source 1
(28,69)
83. Rate of capacity utilization, manufacturing (EOQ).—
Source 1
(20,64)
951. Diffusion index of four roughly coincident indicator
components (M).-Source 1
(36,74)
968. Diffusion index of stock prices, 500 common stocks—
53-82 industries (M).-Standard & Poor's
Corporation
(37,75)
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)
82. Rate of capacity utilization, manufacturing (Q).—Source
4
(20,64)
950. Diffusion index of twelve leading indicator components
(M).-Source 1
(36,74)
105. Money supply Ml in 1972 dollars (M).-Sources 1,3,
and 4
(31,71)
79. Corporate profits after taxes with inventory valuation
and capital consumption adjustments in current dollars
(Q).-Source 1
(28,69)
81. Ratio of profits (after taxes) with inventory valuation
and capital consumption adjustments to total corporate
domestic income (Q).-Source 1
(29,70)
(34,72)
1-C. Diffusion Indexes
85. Change in money supply Ml (M).-Source 4
67. Bank rates on short-term business loans (Q).-Source
4
(35,73)
69. Manufacturers' machinery and equipment sales and
business construction expenditures (industrial and commercial construction put in place) (M).—Source
2
(24,67)
119. Federal funds rate (M).-Source 4
116. Yield on new issues of high-grade corporate bonds
(M).-Citibank and U.S. Department of the
Treasury
(34,73)
117. Yield on municipal bonds, 20-bond average (M).—The
Bond Buyer
(34,73)
118. Secondary market yields on FHA mortgages (M).-U.S.
Department of Housing and Urban Development, Federal
Housing Administration
(34,73)
971. Diffusion index of new orders, manufacturing—about
700 businessmen reporting (Q).—Dun & Bradstreet, Inc.
(Used by permission. This series may not be reproduced
without written permission from the source.) (38,76)
972. Diffusion index of net profits, manufacturing and
trade—about 1400 businessmen reporting (Q).—Dun &
Bradstreet, Inc. (Used by permission. This series may
not be reproduced without written permission from the
source.)
(38,76)
973. Diffusion index of net sales, manufacturing and tradeabout 1400 businessmen reporting (Q).—Dun &
Bradstreet, Inc. (Used by permission. This series may
not be reproduced without written permission from the
source.)
(38,76)
974. Diffusion index of number of employees, manufacturing
and trade—about 1400 businessmen reporting (Q).—
Dun & Bradstreet, Inc. (Used by permission. This series
may not be reproduced without written permission from
the source.)
(38,76)
975. Diffusion index of level of inventories, manufacturing
and trade—about 1400 businessmen reporting (Q).—
Dun & Bradstreet, Inc. (Used by permission. This series
may not be reproduced without written permission from
the source.)
(38,76)
976. Diffusion index of selling prices, manufacturing—about
700 businessmen reporting (Q).-Dun & Bradstreet, Inc.
(Used by permission. This series may not be reproduced
without written permission from the source.) (38,76)
115
TITLES AND SOURCES OF SERIES- Continued
977. Diffusion index of selling prices, wholesale trade—about
450 businessmen reporting (Q).—Dun & Bradstreet, Inc.
(Used by permission. This series may not be reproduced
without written permission from the source.) (38,76)
978. Diffusion index of selling prices, retail trade—about 250
businessmen reporting (Q).—Dun & Bradstreet, Inc.
(Used by permission. This series may not be reproduced
without written permission from the source.) (38,76)
II-A. National Income and Product
30. Gross private domestic investment, change in business
inventories, all industries, in 1972 dollars (Q).—Source
1
(26, 42, 68, 81)
50. Gross national product in 1972 dollars (Q).—Source
1
(19,39,40,63,80)
64. Compensation of employees as a percent of national
income (Q).-Source 1
(30,47,70,83)
200. Gross national product in current dollars (Q).—Source
1
(40,80)
213. Final sales (series 50 minus series 30) in 1972 dollars
(Q).-Source 1
(40,80)
217. Per capita gross national product in 1972 dollars (Q).—
Sources 1 and 2
(40,80)
220. National income in current dollars (Q).—Source
1
(45,82)
223. Personal income in current dollars (M).—Source
I
(40,63)
224. Disposable personal income in current dollars (Q).—
Source 1
(40,80)
225. Disposable personal income in 1972 dollars (Q).Source 1
(40,80)
227. Per capita disposable personal income in 1972 dollars
(Q).-Sources 1 and 2
(40,80)
247. Gross private domestic investment, change in business
inventories, all industries, as a percent of gross national
product (Q).-Source 1
(47,83)
248. Gross private domestic fixed investment, nonresidential,
as a percent of gross national product (Q).—Source
1
(47,83)
249. Gross private domestic fixed investment, residential, as
a percent of gross national product (Q).—Source
1
(47,83)
250. Net exports of goods and services in current dollars;
national income and product accounts (Q).—Source
1
(44,82)
251. Net exports of goods and services as a percent of gross
national product (Q).-Source 1
(47,83)
252. Exports of goods and services in current dollars;
national income and product accounts (Q).—Source
1
(44,82)
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)
292. Personal saving (Q).-Source 1
(46,82)
293. Personal saving rate—personal saving as a percent of
disposable personal income (Q).—Source 1 (46,83)
295. Business saving—undistributed corporate profits plus
capital consumption allowances with inventory valuation
and capital consumption adjustments (Q).—Source
1
(46,82)
298. Government surplus or deficit, total (Q).—Source
1
(46,83)
II-B. Prices, Wages, and Productivity
310. Implicit price deflator, gross national product (Q).—
Source 1
(48,84)
311. Fixed-weighted price index, gross business product
(Q).-Source 1
(48,84)
320. Index of consumer prices, all items (M).—Source
3
(49,59,84,95)
322. Index of consumer prices, food (M).-Source 3(49,84)
330. Index of producer prices, all commodities (M).-Source
3
(48,85)
331. Index of producer prices, crude materials for further
processing (M).-Source 3
(48,85)
332. Index of producer prices, intermediate materials, supplies, and components (M).-Source 3
(48,86)
333. Index of producer prices, capital equipment (M).—
Source 3
(48,86)
334. Index of producer prices, finished consumer goods
(M).-Source 3
(48,86)
335. Index of producer prices, industrial commodities (M).Source 3
(48.85)
340. Index of average hourly earnings of production workers,
private nonfarm economy—adjusted for overtime (in
manufacturing only), interindustry employment shifts,
and seasonality (M).-Source 3
(49,87)
265. Federal Government purchases of goods and services as
a percent of gross national product (Q).—Source
1
(47,83)
266. State and local government purchases of goods and
services in current dollars (Q).-Source 1
(43,81)
267. State and local government purchases of goods and
services in 1972 dollars (Q).-Source 1
(43,81)
341. Index of real average hourly earnings of production
workers, private nonfarm economy—adjusted for
overtime (in manufacturing only), interindustry
employment shifts, and seasonality (M).—Source
3
(49,87)
268. State and local government purchases of goods and
services as a percent of gross national product (Q).—
Source 1
(47,83)
346. Index of real average hourly compensation, all
employees, nonfarm business sector (Q).—Source
3
(49,88)
280. Compensation of employees (Q).-Source 1
282. Proprietors' income with inventory valuation and capital
consumption adjustments (Q).—Source 1
(45,82)
348. Negotiated wage and benefit decisions, all industriesfirst year average (mean) changes (Q).—Source
3
(50,88)
237. Personal consumption expenditures, services, in current
dollars (Q).-Source 1
(41,81)
283. Proprietors' income with inventory valuation and capital
consumption adjustments as a percent of national
income (Q).-Source 1
(47,83)
349. Negotiated wage and benefit decisions, all industriesaverage (mean) changes over life of contract (Q).—
Source 3
(50,88)
238. Personal consumption expenditures, nondurable goods,
in 1972 dollars (Q).-Source 1
(41,81)
284. Rental income of persons with capital consumption
adjustment (Q).-Source 1
(45,82)
239. Personal consumption expenditures, services, in 1972
dollars (Q).-Source 1
(41,81)
285. Rental income of persons with capital consumption
adjustment as a percent of national income (Q).—
Source 1
(47,83)
230. Personal consumption expenditures, total, in current
dollars (Q).-Source 1
(41,80)
231. Personal consumption expenditures, total, in 1972 dollars (Q).-Source 1
(41,80)
232. Personal consumption expenditures, durable goods, in
current dollars (Q).-Source 1
(41,80)
233. Personal consumption expenditures, durable goods, in
1972 dollars (Q).-Source 1
(41,80)
235. Personal consumption expenditures, total, as a percent
of gross national product (Q).-Source 1
(47,83)
236. Personal consumption expenditures, nondurable goods,
in current dollars (Q).-Source 1
(41,81)
240. Gross private domestic investment, total, in current dollars (Q).-Source 1
(42,81)
241. Gross private domestic investment, total, in 1972 dollars (Q).-Source 1
(42,81)
242. Gross private domestic fixed investment, total, in
current dollars (Q).-Source 1
(42,81)
243. Gross private domestic fixed investment, total, in 1972
dollars (Q).-Source 1
(42,81)
245. Gross private domestic investment, change in business
inventories, all industries, in current dollars (Q).—
Source 1
(42,81)
116
(45,82)
286. Corporate profits with inventory valuation and capital
consumption adjustments (Q).—Source 1
(47,82)
287. Corporate profits with inventory valuation and capital
consumption adjustments as a percent of national
income (Q).-Source 1
(47,83)
345. Index of average hourly compensation, all employees,
nonfarm business sector (Q).—Source 3
(49,87)
358. Index of output per hour, all persons, nonfarm business
sector (Q).-Source 3
(49,88)
370. Index of output per hour, ail persons, private business
sector (Q).-Source 3
(49,88)
II-C. Labor Force, Employment, and
Unemployment
37. Number of persons unemployed, labor force survey
(M).-Sources 2 and 3
(18,51,62,89)
(45,82)
441. Total civilian labor force, labor force survey (M).—
Sources 2 and 3
(51,89)
289. Net interest as a percent of national income (Q).—
Source 1
(47,83)
442. Total civilian employment, labor force survey (M).—
Sources 2 and 3
(51,89)
290. Gross saving—private saving plus government surplus or
deficit (Q).-Source 1
(46,82)
444. Number unemployed, males 20 years and over, labor
force survey (M).'-Sources 2 and 3
(51,89)
288. Net interest (Q).-Source 1
U. S. GOVERNMENT PRINTING OFFICE : 1982
340-993/101
TITLES AND SOURCES OF SERIES- Continued
445. Number unemployed, females 20 years and over, labor
force survey (M).-Sources 2 and 3
(51,89)
565. National defense purchases as a percent
national product (Q).-Source 1
of gross
(55,91)
47. United States, index of industrial production, total
(M).-Source 4
(14,20,39,58,63,78,94)
446. Number unemployed, both sexes 16-19 years of age,
labor force survey (M).-Sources 2 and 3
(51,89)
570. Employment in defense products industries (M).—
Source 3; seasonal adjustment by Bureau of Economic
Analysis
(55,91)
320. United States, index of consumer prices, all items
(M).-Source 3
(48,59,84,95)
447. Number unemployed, full-time workers, labor force
survey (M).-Sources 2 and 3
(51,89)
448. Number employed, part-time workers for economic
reasons, labor force survey (M).—Sources 2 and
3
(51,89)
451. Civilian labor force participation rate, males 20 years
and over (M).-Sources 2 and 3
(51,89)
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)
577. Defense Department personnel, military, active duty
(EOM).-U.S. Department of Defense, OSD, Comptroller,
Washington Headquarters Services
(55,91)
578. Defense Department personnel, civilian, direct hire
employment (EOM).-U.S. Department of Defense, OSD,
Comptroller, Washington Headquarters Services(55,91)
580. Defense Department net outlays, military functions and
military assistance (M).—U.S. Department of Defense,
OSD, Comptroller, Directorate for Program and
Financial Control; seasonal adjustment by Bureau of
Economic Analysis
(54,91)
II-D. Government Activities
588. Value of manufacturers' shipments, defense products
(M)-Source 2
(54,91)
500. Federal Government surplus or deficit; national income
and product accounts (Q).-Source 1
(52,90)
II-E. U.S. International Transactions
501. Federal Government receipts; national income and product accounts (Q).-Source 1
(52,90)
602. Exports, excluding military aid shipments, total (M).—
Source 2
(56,92)
502. Federal Government expenditures; national income and
product accounts (Q).-Source 1
(52,90)
604. Exports of agricultural products (M).—Source 2;
s e a s o n a l a d j u s t m e n t by Bureau of E c o n o m i c
Analysis
(56,92)
510. State and local government surplus or deficit; national
income and product accounts (Q).—Source 1 (52,90)
511. State and local government receipts; national income
and product accounts (Q).—Source 1
(52,90)
512. State and local government expenditures; national
income and product accounts (Q).—Source 1 (52,90)
517. Defense Department gross obligations incurred (M).—
U.S. Department of Defense, OSD, Comptroller,
Directorate for Program and Financial Control; seasonal
adjustment by Bureau of Economic Analysis (53,90)
525. Defense Department military prime contract awards for
work performed in the United States (M).—U.S.
Department of Defense, OSD, Comptroller, Washington
Headquarters Services; seasonal adjustment by Bureau
of Economic Analysis
(53,90)
543. Defense Department
gross unpaid obligations
outstanding (EOM).-U.S. Department of Defense, OSD,
Comptroller, Directorate for Program and Financial
Control; seasonal adjustment by Bureau of Economic
Analysis
(53,90)
548. Value of manufacturers' new orders, defense products
(M).- Source 2
(53,90)
557. Output of defense and space equipment (M).— Source
4
(54,91)
559. Value of manufacturers' inventories, defense products
(EOM).-Source 2
(54,91)
561. Value of manufacturers' unfilled orders, defense products (EOM).-Source 2
(54,91)
564. Federal Government purchases of goods and services for
national defense (Q).-Source 1
(55,91)
(56,92)
614. Imports of petroleum and petroleum products (M).—
Source 2; seasonal adjustment by Bureau of Economic
Analysis
(56,92)
616. Imports of automobiles and parts (M).—Source 2;
s e a s o n a l a d j u s t m e n t by B u r e a u of E c o n o m i c
Analysis
(56,92)
618. Merchandise exports, adjusted, excluding military grants
(Q)-Source 1
(57,93)
620. Merchandise imports,
(Q).-Source 1
adjusted,
excluding
military
(57,93)
622. Balance on merchandise trade (Q).-Source 1 (57,93)
651. Income on
1
U.S.
investments abroad (Q).—Source
(57,93)
652. Income on foreign investments in the United States
(Q).-Source 1
(57,93)
667. Balance on goods and services (Q).—Source 1(57,93)
668. Exports of goods and services, excluding transfers under
U.S. military grants (Q).-Source 1
(57,93)
669. Imports of goods and services,
1
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).—
Deutsche Bundesbank (Frankfurt)
(58,94)
726. France, index of industrial production (M).—Institut
National de la Statistique et des Etudes Economiques
(Pans)
(58,94)
727. Italy, index of industrial production (M).—Institute
Centrale di Statistica (Rome)
(58,94)
606. Exports of nonelectrical machinery (M).—Source 2;
seasonal adjustment by Bureau of Economic
Analysis
(56,92)
612. General imports, total (M).-Source 2
721.
total (Q).—Source
(57,93)
II-F. International Comparisons
19. United States, index of stock prices, 500 common stocks
(M).-Standard & Poor's Corporation (13,28,59,69,96)
728. Japan, index of industrial production (M).—Ministry of
International Trade and Industry (Tokyo)
(58,94)
732. United Kingdom, index of consumer prices (M).—
Ministry of Labour (London); percent changes seasonally adjusted by Bureau of Economic Analysis (59,95)
733. Canada, index of consumer prices (M).—Statistics
Canada (Ottawa); percent changes seasonally adjusted
by Bureau of Economic Analysis
(59,96)
735. West Germany, index of consumer prices (M).—
Statistisches Bundesamt (Wiesbaden); percent changes
seasonally adjusted by Bureau of Economic Analysis
(59,95)
736. France, index of consumer prices (M).—Institut
National de la Statistique et des Etudes Economiques
(Pans); percent changes seasonally adjusted by Bureau
of Economic Analysis
(59,95)
737. Italy, index of consumer prices (M).—Institute Centrale
di Statistica (Rome); percent changes seasonally
adjusted by Bureau of Economic Analysis
(59,96)
738. Japan, index of consumer prices (M).—Office of the
Prime Minister (Tokyo); percent changes seasonally
adjusted by Bureau of Economic Analysis
(59,95)
742. United Kingdom, index of stock
Financial Times (London)
prices
(M).—The
(59,96)
743. Canada, index of stock prices (M).—Statistics Canada
(Ottawa)
(59,96)
745. West Germany, index of stock prices (M).—Statistisches
Bundesamt (Wiesbaden)
(59,96)
746. France, index of stock prices (M).—Institut National de
la Statistique et des Etudes Economiques (Paris)
(59,96)
747. Italy, index of stock prices (M).—Institute Centrale di
Statistica (Rome)
(59,96)
748. Japan, index of stock
Exchange (Tokyo)
prices
(M).—Tokyo
Stock
(59,96)
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