View original document

The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.




U.S. DEPARTMENT OF COMMERCE
Philip M. Klutznick, Secretary
Courtenay M. Slater, Chief Economist for the Department of Commerce
BUREAU OF ECONOMIC ANALYSIS
George Jaszi, Director
Allan H. Young, Deputy Director
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 areBarry A. Beckman—Technical supervision and review
Brian D. Kajutti—Composite indexes
Morton Somer—Seasonal adjustments
Betty F. Tunstall—Data collection and compilation (Phone: 202-523-0541)
The cooperation of government and private agencies that provide data is gratefully
acknowledged. Agencies furnishing data are indicated in the list of series titles and sources
at the back of this report.
This publication is prepared under the general guidance of a technical committee under the
auspices of the Office of Federal Statistical Policy and Standards. The Committee consists of
the following persons:
Beatrice N. Vaccara, Chairman, Bureau of Industrial Economics, U.S. Department of
Commerce
Joseph W. Duncan, Office of Federal Statistical Policy and Standards
Ronald E. Kutscher, Bureau of Labor Statistics, U.S. Department of Labor
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.

Annual subscription price: $55.00 domestic,
$68.75 foreign. Single copy price: $4.75
domestic, $5.95 foreign. Foreign airmail rates
are available upon request. Address all
correspondence concerning subscriptions to the

Most of the data contained in this report
also are published by their source agencies. A
series finding guide and a complete list of series
titles and sources can be found at the back of the
report.
Cyclical Indicators are economic time series
which have been singled out as leaders, coinciders, or taggers 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.
Superintendent of Documents, U.S. Government
Printing Office, Washington, D.C. 20402. Make
checks payable to the Superintendent of
Documents.

BUSINESS CONDITIONS DIGEST

New Features and Changes for This Issue

ItCII

iii

METHOD OF PRESENTATION
Seasonal Adjustments
MCD Moving Averages
Reference Turning Dates
Part I. Cyclical Indicators
Part II. Other Important Economic Measures
How To Read Charts
How To Locate a Series
Summary of Recent Data and Current Changes

1
1
1
1
4
5
5
6

NOVEMBER 1980
Data Through October
Volume 20, Number 11

PART I.
CYCLICAL INDICATORS
COMPOSITE INDEXES AND
THEIR COMPONENTS

AH
A2
A3
A4J

Chart

CjU
C2
ZJJ

DIFFUSION INDEXES
AND RATES OF CHANGE
Diffusion Indexes
Selected Diffusion Index Components
Rates of Change

Bl
B4
B5

The Secretary of Commerce has determined
that the publication of this periodical is
necessary in the transaction of the public
business required by taw of this Department. Use



60
—
—
—

16
19
21
23
. 26
28
31

61
63
64
65
68
69
71

36
—
39

B7

CYCLICAL INDICATORS
BY ECONOMIC PROCESS
Employment and Unemployment
Production and Income
Consumption, Trade, Orders, and Deliveries
Fixed Capital Investment
Inventories and Inventory Investment
Prices, Costs, and Profits
Money and Credit

Table

10
12
14
15

Composite Indexes
Leading Index Components
Coincident Index Components
Lagging Index Components

74
77
—

of funds for printing this periodical has been approved by the Director of the Office of
Management and Budget through September 1,
1983.

BCII




PART II.
OTHER IMPORTANT
ECONOMIC MEASURES
NATIONAL INCOME
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
Saving
Shares of GNP and National Income

Table

48
49

84
87

LABOR FORCE, EMPLOYMENT,
AND UNEMPLOYMENT
Civilian Labor Force and Major Components

51

89

GOVERNMENT ACTIVITIES
Receipts and Expenditures
Defense Indicators

52
53

90
90

U.S. INTERNATIONAL TRANSACTIONS
Merchandise Trade
Goods and Services Movements

56
57

92
93

INTERNATIONAL COMPARISONS
Industrial Production
Consumer Prices
Stock Prices

A2
A3
A4
A5
A6
A7
A8

Chart
40
41
42
43
44
45
46
47

PRICES, WAGES,
AND PRODUCTIVITY
Price Movements
Wages and Productivity

Al

58
59
59

94
95
96

,
,

,

80
80
81
81
82
82
82
83

PART III. APPENDIXES
A. MCD and Related Measures of Variability (April 1930 issue)
QCD and Related Measures of Variability (April 1980 issue)
B. Current Adjustment Factors (September 1980 issue)
C. Historical Data for Selected Series
D. Descriptions and Sources of Series (See "Alphabetical Index—Series finding Guide")
E. Business Cycle Expansions and Contractions (October 1980 issue)
F. Specific Peak and Trough Dates for Selected Indicators (June 1980 issue)
G. Experimental Data and Analyses
Alphabetical Index—Series Finding Guide
,
Titles and Sources of Series

97

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. Appendix C contains historical data for series 46, 66,
109, 113-119, 345, 346, 732, 733, 735-738, and 962.
2. Appendix G contains cyclical comparisons for series 5,
12, 40, 45, 73, 74, 916, and 930.
The December issue of BUSINESS CONDITIONS DIGEST is scheduled
for release on January 5.



in

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 found most useful by
business analysts and forecasters. The dominant feature is the cyclical indicators
section in which approximately 110 business cycle indicators are each assigned a
three-way timing classification according to their cyclical behavior at peaks, at
troughs, and at all turns. This section also contains other valuable aids for the
analysis of business conditions and prospects, such as composite indexes of leading,
coincident, and lagging indicators and various diffusion indexes. A second section
contains other important economic measures such as prices, wages, productivity,
government activities, U.S. international transactions, and international comparisons.
Data are presented in charts and tables. Appendixes provide historical data, series
descriptions, seasonal adjustment factors, and measures of variability, A computer
tape containing data for most of the series is available for purchase.

LONG TERM ECONOMIC GROWTH A report for the study of economic
trends over a long span of years, 1860-1970.
This report has been developed from available statistics to provide a comprehensive,
long-range view of the U.S. economy. It is a basic research document for economists,
historians, investors, teachers, and students. It brings together under one cover, in
meaningful and convenient form, the complete statistical basis for a study of longterm 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 for measuring and analyzing seasonal, trading-day, cyclical, and irregular
fluctuations. They are particularly useful in analyzing economic fluctuations which
take place within a year. The X-11 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,
DIFFUSION INDEX PROGRAM.-A computer program for computing diffusion
indexes, cumulated diffusion indexes, and summary measures of the properties of
each index.

SURVEY OF CURRENT BUSINESS
current economic developments.

A

monthly report for analyzing

This report provides a useful combination of current data for more than 2,600
statistical series and significant articles analyzing economic developments. Those
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.

A
BUSINESS STATISTICS
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 which 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 IS, Other Important
Economic Measures, covers over 140 series which
are valuable to business analysts and forecasters
but which do not conform well enough to business
cycles to qualify as cyclical indicators. (There are a
few exceptions: Four
which are included in
part \ are also shown in part SI 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 S, section A)
begin with 1948, and a few charts use a two-panel
format which covers only the period since 1969.
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
numbers used are for identification
purposes only and do not reflect precise
relationships or order. However, aSS series
considered as cyclical indicators are numbered in
the range 1 to 199.
Seasonal Adjustments
Adjustments for average seasonal fluctuations
are often necessary to bring out the underlying
trends of time series. Such adjustments allow for
the effects of repetitive intrayear variations
resulting primarily from normal differences in
weather conditions and from various institutional
arrangements. Variations attributable to holidays
are usually accounted for by the seasonal
adjustment process; however, a separate holiday



adjustment is occasionally required for holidays
with variable dates, such as Easter. An additional
adjustment is sometimes necessary for series
which contain considerable variation due to the
number of working or trading days in each month.
As used in this report, the term "seasonal
adjustment" includes trading-day and holiday
adjustments where they have been made.
Most of the series in this report are presented in
seasonally adjusted form and, in most cases, these
are the official figures released by the source
agencies. However, for the special purposes of this
report, a number of series not ordinarily published
in seasonally adjusted form are shown here on a
seasonally adjusted basis.
MCD Moving Averages
Month-to-month changes in a series are often
dominated by erratic movements. MCD (months for
cyclical dominance) is an estimate of the appropriate span over which to observe cyclical
movements in a monthly series. (See appendix A.)
It is the smallest span of months for which the
average change in the cyclical factor is greater than
that in the irregular factor. The more erratic a
series is, the larger the MCD will be; thus, MCD is 1
for the smoothest series and 6 for the most erratic.
MCD moving averages (that is, moving averages of
the period equal to MCD) tend to have about the
same degree of smoothness for all series. Thus, a
5-term moving average of a series with an MCD of 5
will show its cyclical movements about as clearly
as the seasonally adjusted data for a series with an
MCD of 1.
The charts in this report generally include
centered MCD moving averages for those series
with an MCD greater than 4. The seasonally
adjusted data are also plotted to indicate their
variation about the moving averages and to provide
observations for the most recent months.

Part I. CYCLICAL INDICATORS
Business cycles have been defined as sequences
of expansion and contraction in various economic
processes that show up as major fluctuations in aggregate economic activity—that is, in comprehensive measures of production, employment,
income, and trade. While recurrent and pervasive,
business cycles of historical experience have been
definitely nonperiodic and have varied greatly in
duration and intensity, reflecting changes in
economic systems, conditions, policies, and
outside disturbances.
One of the techniques developed in business
cycle research and widely used as a tool for analyzing current economic conditions and prospects is
the cyclical indicators approach. This approach
identifies certain economic time series as tending
to lead, coincide with or lag behind the broad
movements in aggregate economic activity. Such
indicators have been selected and analyzed by
NBER in a series of studies published between
1938 and 1967. During the 1972-75 period, a new
comprehensive review of cyclical indicators was
carried out by the Bureau of Economic Analysis
(BEA) with the cooperation of the NBER research
staff. The present format and content of part I of
BCD are based on the results of that study,
Section A. Composite indexes and
Their Components

All cyclical indicators have been evaluated according to six major characteristics: Economic
significance, statistical adequacy, consistency of
timing at business cycle peaks and troughs,
c o n f o r m i t y to business e x p a n s i o n s and
contractions, smoothness, and prompt availability
(currency). A formal, detailed weighting scheme
was developed and used to assess each series by all
of the above criteria. (See articles in the May and
November 1975 issues of BCD.) The resulting
Reference Turning Dates
scores relate to cyclical behavior of the series
The historical business cycle turning dates used during the period 1947-70. This analysis produced
in this report are those designated by the National a new list of indicators classified by economic
Bureau of Economic Research, Inc. (NBER). They process and typical timing at business cycle peaks
mark the approximate dates when, according to and troughs. (See tables on page 2 and text below
NBER, aggregate economic activity reached its relating to section B.)
This information, particularly the scores relating
cyclical high or low levels. As a matter of general
practice, neither new reference turning dates nor to consistency of timing, served as a basis for the
the shading for recessions will be entered on the selection of series to be included in the composite
charts until after both the new reference peak and indexes. The indexes incorporate the best-scoring
the new reference trough bounding the shaded area series from many different economic-process
groups and combine those with similar timing
have been designated.
The historical reference turning dates are subject behavior, using their overall performance scores as
to periodic review by NBER and on occasion are weights. Because they use series of historically
changed as a result of revisions in important tested usefulness and given timing characteristics
economic time series. The dates shown in this pub- (for example, leading at both peaks and troughs),
lication for the 1948-1970 time period are those with diversified economic coverage and a minimum
determined by a 1974 review. The turning dates for of duplication, composite indexes give more
the 1973-1975 period are detailed in NBER's 1976 reliable signals over time than do any of the
Annual Report.
individual indicators. Furthermore, much of the

1

Cross-Classification of Cyclical Indicators by Economic Process and Cyclical Timing
A. Timing at Business Cycle Peaks
\. Economic
\Process
CyclicalNv
Timing
\^

LEADING (L)
INDICATORS
(62 series)

ROUGHLY
COINCIDENT(C)
INDICATORS

1.

EMPLOYMENT

AND
UNEMPLOYMENT

INCOME
(10 series)

(18 series)

Marginal
! Capacity
utilization
employment
(2 series)
adjustments
(6 series)
Job vacancies
(2 series)
Comprehensive
employment
(1 series)
Comprehensive
unemployment
(3 series)

New and
unfilled orders
and deliveries
(6 series)
Consumption
(2 series)

Formation of
business
enterprises
(2 series)
Business
investment
commitments
(5 series)
Residential
construction
(3 series)

Comprehensive
employment
(1 series)

Consumption
and trade
(4 series)

V.

INVENTORIES

AND
INVENTORY
INVESTMENT

VI.
PRICES, COSTS,
AND PROFITS

VII.
MONEY
AND CREDIT
(26 series)

Stock prtcas
(I series)
Commodity
prices
(1 series)
Profits and
profit
margins
(7 series)
Cash flows
(2 series)

Money flows
(3 series)
Real money
supply
(2 series)
Credit flows
(4 series)
Credit
difficulties
(2 series)
Bank reserves
(2 series)
Interest rates
(1 series)

(17 series)

(9 series)

Backlog of
investment
commitments
(1 series)
Business
investment
expenditures
(5 series)

(23 series)

LAGGING (Lg)
INDICATORS
(18 series)

IV.
III.
CONSUMPTION. FIXED
CAPITAL
TRADE,
INVESTMENT
ORDERS, AND
(18 series)
DELIVERIES
(13 series)

II.

PRODUCTION
AND

Comprehensive
output and
real Income
(4 series)
Industrial
production
(4 series)

Duration of
unemployment
(2 series)

Business
Investment
expenditures
(1 series)

Inventory
investment
(4 series)
Inventories on
hand and on
order
(1 series)

Velocity of
money
(2 series)
Interest rates
(2 series)

Unit labor costs
and labor share
(4 series)

Interest rates
(4 series)
Outstanding
debt
(3 series)

Commodity
prices
(1 series)
Profit share
(1 series)

Interest rates
(1 series)

V.

VI.

AND

ANDP

(17 seri

VII.
MONEY
AND CREDIT
(26 series)

Stock p
(1 seri
Commc
prices
(2 seri
Profits
profit
(6 seri
Cash f|(
(2 seri

Money flows
(2 series)
Real money
supply
(2 series)
Credit flows
(4 series)
Credit
difficulties
(2 series)

Profits
(2 seri

Money flow
(1 series)
Velocity of
money
(1 series)

Unit lat
and l<)
(4 seri

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)

L

Comprehensive
TIMING
employment
UNCLASSIFIED
(3 series)
(U)
(8 series)

Trade
(1 series)

Business
Investment
commitments
(1 series)

III.

IV.

B. Timing at Business Cycle Troughs
x. Economic
\Process
CycllcalV
Timing
\.

LEADING (L)
INDICATORS
(47 series)

ROUGHLY
COINCIDENT(C)
INDICATORS
(23 series)

1.

EMPLOYMENT
AND
UNEMPLOYMENT
(18 series)

II.

PRODUCTION
AND

INCOME
(10 series)

CONSUMPTION, FIXED
TRADE,
CAPITAL
ORDERS, AND
INVESTMENT
DELIVERIES
(18 series)
(13 series)

Marginal
employment
adjustments
(3 series)

Industrial
production
(1 series)

New and unfilled
orders and
deliveries
(5 series)
Consumption
and trade
(4 series)

Formation of
business
enterprises
(2 series)
Business
investment
commitments
(4 series)
Residential
construction
(3 series)

Marginal
employment
adjustments
(2 series)
Comprehensive
employment
(4 series)

Comprehensive
output and
real income
(4 series)
Industrial
production
(3 series)
Capacity
utilization
(2 series)

Consumption
and trade
(3 series)

INVENTORIES
INVENTORY
INVESTMENT
(9 series)

Business
investment
commitments
(1 series)

Inventory
investment
(4 series)

™"1\

LAGGING (Lg)
INDICATORS
(40 series)

TIMING
UNCLASSIFIED
(U)
(1 series)




Marginal
employment
adjustments
(1 series)
Job vacancies
(2 series)
Comprehensive
employment
(1 series)
Comprehensive
and duration
of
unemployment
(5 series)

Unfilled orders
(1 series)

Business
Investment
commitments
(2 series)
Business
investment
expenditures
(6 series)

Inventories on
hand and on
order
(5 series)

PRICE;

Bank reserves
(1 series)

independent measurement error and other "noise"
in the included series are smoothed out in the
index as a whole. The indexes include only monthly
series that are acceptable in terms of relatively
prompt availability and reasonable accuracy.
The main composite indexes are distinguished by
their cyclical timing. Thus, there is an index of
leading indicators, series which historically reached
their cyclical peaks and troughs earlier than the
corresponding business cycle turns. There is an
index of roughly coincident indicators, consisting
of series which historically reached their turning
points at about the same time as the general
economy, and an index of lagging indicators, which
includes series that typically reached their peaks
and troughs later than the corresponding business
cycle turns.
The leading index contains series with long as
well as short leads, but each series leads on the
average over time and shows a frequency of leads
at the individual turns exceeding that attributable
to chance, given the historical distribution of
cyclical timing. (An analogous statement applies to
the components of the lagging index.) Since 1948,
leads were generally more frequent and longer at
peaks than at troughs of business cycles, while lags
were generally more frequent and longer at troughs
than at peaks. The adopted system of scoring and
classifying the indicators takes into account these
w e l l - e s t a b l i s h e d d i f f e r e n c e s in timing.
Consequently, rough coincidences include short
leads (-) and lags ( + ) as well as exact
coincidences (0). (For monthly series, the range is
from -3 through +1 at peaks and from -1 through
+3 at troughs, where minus denotes leads and
plus denotes lags in months.)
For purposes of constructing a composite index,
each component series is standardized: The monthto-month percent changes in a given series are
divided by the long-run average (without regard to
sign) of those changes. Thus, the more volatile
series are prevented from dominating the index.
The coincident index is calculated so that its longterm trend (since 1948) equals the average of the
trends of its four components. This trend, which is
similar to that of GNP in constant dollars, can be
viewed as a linear approximation to the secular
movement (at an average growth rate) in aggregate
economic activity. The indexes of leading and lagging indicators have been adjusted so that both
their trends and their average month-to-month
percent changes (without regard to sign) are approximately equal to those of the coincident index.
(For a more detailed description of the method of
constructing the composite indexes, see the 1977
Handbook of Cyclical Indicators.)
In addition to these principal composite indexes,
differentiated according to cyclical timing, there
are five indexes based on leading indicators which
have been grouped by economic process. Taken
together, these additional indexes include all 12
component series of the overall leading index, plus
a few related series. Also shown in this section is
the ratio of the index of roughly coincident




indicators to the index of lagging indicators, a
series known to have a useful pattern of early
cyclical timing. Numbers entered on'the charts of
the composite indexes show the length, in months,
of leads (-) and lags (+) at each of the reference
turning dates covered.
The next set of data consists of series included
in the principal composite indexes. These are the
12 components of the leading index, the 4
components of the coincident index, and the 6
components of the lagging index. Following the title
of each series, its typical timing is identified by
three letter symbols in a small box. The first of
these letters refers to the timing of the given
indicator at business cycle peaks, the second to its
timing at business cycle troughs, and the third to
its timing at all turns, i.e., at peaks and troughs
combined. "L" denotes a tendency to lead, "C" a
tendency to roughly coincide with the business
cycle turns (as represented by the NBERdesignated reference dates), and "Lg" a tendency
to lag. Since these series have been selected for the
consistency of their timing at both peaks and
troughs, all components of the leading index are
denoted "L,L,L," all components of the coincident
index "C,C,C," and all components of the lagging
index "Lg,Lg,Lg." It should be remembered that
these classifications are based on limited evidence,
namely the performance of the indicators during
the business cycles of the 1948-70 period, which
included five peaks and five troughs. While the
timing classifications are expected to agree with
the patterns prevailing in the near future, they will
not necessarily hold invariably in every instance.
The timing of the series in the post-1970 period
can be determined by inspection of the charts
where the 1973-75 recession is shaded according
to the dates of the NBER reference cycle
chronology.

August '57, April '60, and December '69); crossclassification B, on their behavior at five business
cycle troughs (October '49, May '54, April '58,
February '61, and November '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
Section B. Cyclical Indicators by Economic Process expectations for several operating variables are
presented, along with the corresponding indexes
This section covers 111 individual time series, based on actual data, as the last set of diffusion
including the 22 indicators used in the series.
This section also records rates of change for the
construction of the composite indexes. The peak
and trough timing classifications are shown on the three composite indexes (leading, coincident, and
charts in the same manner as described above, but lagging) and jor four indicators of aggregate
this section includes series with different timing at economic activity: GNP in constant dollars
peaks and at troughs, as well as series where the (quarterly), industrial production, employee hours
timing is not sufficiently consistent to be classified in nonagricultural establishments, and personal
as either L,C, or Lg according to the probabilistic income less transfers in constant dollars. Rates of
measures and scoring criteria adopted. Such series change are shown for 1- and 3-month spans or for
are labeled U, i.e., unclassified as to timing at 1-quarter spans.
Although movements in diffusion indexes and in
turning points of the given type. Eight series are
unclassified at peaks, one series at troughs, and 19 rates of change for the same aggregates are
series at all turns (of the 19, 15 have definite but generally positively correlated, these two measures
different timing at peaks and at troughs). No series present information about two related but distinct
that is classified as U both at peaks and at troughs aspects of economic change. Diffusion indexes
measure the prevailing direction or scope of
is included in the list of cyclical indicators.
The classification scheme which groups the change, while rates of change measure the degree
indicators of this section by economic process and as well as the overall direction. As is the case for
cyclical timing is summarized in the two diffusion indexes, cyclical movements in the rates
tabulations on page 2. Cross-classification A is of change tend to lead those of the corresponding
based on the observed behavior of the series at five indexes or aggregates, and thus, they tend to lead
business cycle peaks (November '48, July '53, at the business cycle turns as well.

Part II. OTHER IMPORTANT ECONOMIC
MEASURES
This part is divided into six sections which cover
a wide range of quarterly and monthly time series
measuring various aspects of economic activity.
Some of these series are very comprehensive,
pertaining to the U.S. economy as a whole, others
have to do with particular sectors or markets, and
still others relate to U.S, international transactions
or to selected foreign countries. The represented
variables include incomes, outputs, and
expenditures; prices, earnings, and productivity;
labor resources; government receipts,
expenditures, and defense-related activities; exports and imports; and selected indicators for a few
key foreign countries.
Section A. National Income and Product
The national income and product accounts,
compiled by BEA, summarize both receipts and
final expenditures for the personal, business,
foreign, and government sectors of the economy.
Section Al shows the gross national product,
final sales, and personal and disposable personal
income. The four major components of the gross
national p r o d u c t — p e r s o n a I consumption
expenditures, gross private domestic investment,
government purchases of goods and services, and
net exports of goods and services—are presented in
sections A2 through A5. Most of the series in
section A are presented in current as well as
constant dollars. There are also a few per capita
series. The national income and product accounts,
briefly defined below, are described more fully in
the Survey of Current Business, Part I,
January 1976.
Gross national product (GNP) is the market
value of final goods and services produced by the
labor and property supplied by residents of the
United States, before deduction of allowances for
the consumption of fixed capital goods. It is the
most comprehensive measure of aggregate
economic output. Final sales is GNP less change in
business inventories.
Personal income is the income received by
persons (individuals, owners of unincorporated
businesses, nonprofit institutions, private trust
funds, and private noninsured welfare funds) from
all sources, it is the sum of wage and salary
disbursements, other labor income, proprietors'
income, rental income of persons, dividends,
personal interest income, and transfer payments,
less personal contributions for social insurance.
Disposable personal income is the personal
income available for spending or saving. It consists
of personal income less personal taxes and nontax
payments to government.
Personal consumption expenditures (A2) is
goods and services purchased by individuals,
operating expenses of nonprofit institutions, and
the value of food, fuel, clothing, rent of dwellings,
and financial services received in kind by individuals. Net purchases of used goods are also included.



Gross private domestic investment (A3) is fixed Section C. Labor Force, Employment, and
capital goods purchased by private business and Unemployment
nonprofit institutions and the value of the change
This section contains measures of the civilian
in the physical volume of inventories held by
labor force and its major components: Total
private business. The former include all private
purchases of dwellings, whether purchased for numbers of employed and unemployed persons.
tenant or owner occupancy. Net purchases of used The number of unemployed is subdivided into
selected categories defined by sex, age, and class
goods are also included.
Government purchases of goods and services of worker. Also included are data on participation
(A4) is the compensation of government employees rates for a few principal segments of the labor
and purchases from business and from abroad. It force.
excludes transfer payments, interest paid by Section D. Government Activities
government, and subsidies. It includes gross
investment by government enterprises but excludes
Receipts, expenditures, and their balance (surtheir current outlays. It includes net purchases of plus or deficit) are shown quarterly on two levels:
used goods and excludes sales and purchases of (1) Federal Government and (2) State and local
land and financial assets.
government. Also shown is a selection of series
Net exports of goods and services (AS) is exports from the discontinued Defense Indicators.
less imports of goods and services. Exports are part These series measure defense activities which
of the national production; imports are not, but are influence short-term changes in the national
included in the components of GNP and are economy. Included are series relating to
therefore deducted. More detail on U.S. obligations, contracts, orders, production,
international transactions is provided in section E. shipments, inventories, outlays, and employment.
National income (A6) is the incomes that These series are grouped according to the time at
originate in the production of goods and services which the activities they measure occur in the
attributable to labor and property supplied by defense order-production-delivery process. Series
residents of the United States. Thus, it measures measuring activities which usually precede prothe factor costs of the goods and services pro- duction, such as contract awards and new orders,
duced. It consists of the compensation of are classified as "advance measures of defense
employees, proprietors' income, rental income of activity." Series measuring activities which tend to
persons, corporate profits, and net interest.
coincide with production, such as employment, and
Saving (A7) is the difference between income activities which usually follow production, such as
and expenditures during an accounting period. shipments, are classified as "intermediate and final
Total gross saving includes personal saving, measures of defense activity."
business saving (mainly undistributed corporate
profits and capital consumption allowances), and Section E. U.S. international Transactions
government surplus or deficit.
This group includes monthly series on exports
Shares of GNP and national income (A8).—The
major expenditure components of GNP (excluding military aid) and general imports, plus a
(consumption, investment, etc,) are expressed as few selected components of these aggregates. Also
percentages of GNP, and the major income shown are the balances between receipts and
components of national income (compensation of expenditures for goods and services, merchandise,
employees, corporate profits, etc.) are expressed as and investment income.
percentages of national income.
Section F, International Comparisons
Section B. Prices, Wages, and Productivity
The important data on price movements include
the monthly consumer and producer price indexes
and their major components. Based largely on
these series are the quarterly price indexes from
the national income and product accounts, notably
the GNP implicit price deflator (with weights
reflecting the changing proportions of different
expenditure categories in GNP) and the fixedweighted price index for the gross business product. Data on both levels and percent changes are
presented for the period since 1969.
The group of series on wages and productivity
consists of data on average hourly earnings and
average hourly compensation (including earnings
and other benefits) in current and constant dollars,
output per hour of work in the business sector, and
rates of change for most of these measures,

This section is designed to facilitate a quick
review of basic economic conditions in six of the
nations with which we have important trade
relationships. The U.S. business cycle shading has
been omitted from these charts. Data on industrial
production, consumer prices, and stock prices for
Canada, the United Kingdom, France, West Germany, Japan, and Italy are compared with the corresponding U.S. series. Also included is an industrial production index for the European
countries in the Organization for Economic
Cooperation and Development (OECD). The industrial production series provide cyclically sensitive output measures for large parts of the
economies covered. Changes in consumer price indexes (plotted for the period since 1969) provide
important measures of the rates of inflation in the
major industrialized countries. Stock prices (also
shown beginning in 1969) tend to be significant as
leading indicators.

HOW TO READ CHARTS
Peak (P) of cycle indicates
end of expansion and beginning of recession (shaded
area) as designated by NBER.

Basic Data

Arabic number indicates latest
month for which data are
plotted. ("9" = September)

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

Dotted line indicates anticipated data,

Broken line indicates actual
monthly data for series where
a moving average is plotted.

Roman number indicates
latest quarter for which data
are plotted. ("IV" = fourth
quarter)

Solid line with plotting points
indicates quarterly data.
Parallel lines indicates a break
in continuity (data not available, extreme value, etc.).

Diffusion Indexes

Solid line indicates monthly
data over 6- or 9-month
spans.
Broken line indicates monthly
data over 1-month spans.

Various scales are used to
highlight the patterns of the
individual series. "Scale A"
is an arithmetic scale, "scale
L-1" is a logarithmic scale
with 1 cycle in a given distance, "scale L-2" is a logarithmic scale with two cycles
in that distance, etc.
Arabic number indicates latest
month for which data are
used in computing the indexes.

Broken line with plotting
points indicates quarterly
data over 1 -quarter spans.

Roman number indicates
latest quarter for which data
are used in computing the indexes.

Solid line with plotting points
indicates quarterly data over
various spans.
Diffusion indexes and rates
of change are centered within
the spans they cover.

Trough (T) of cycle indicates
end of recession and beginning of expansion as designated by NBER.

Rates of Change

Solid line indicates percent
changes over 3- or 6-month
spans.

Dotted line indicates anticipated quarterly data over
various spans.
Arabic number indicates latest
month used in computing
the changes.

Broken line indicates percent
changes over 1-month spans.

Broken line with plotting
points indicates
percent
changes over 1-quarter spans.

Solid line with plotting points
indicates percent changes over
3-or 4-quarter spans.

Roman number indicates
latest quarter used in computing the changes.

HOW TO LOCATE A SERIES
1. See ALPHABETICAL INDEX-SERIES FINDING GUIDE at
the back of the report where series are arranged alphabetically
according to subject matter and key words and phrases of the
series titles, or-




2. See TITLES AND SOURCES OF SERIES at the back of
the report where series are listed numerically according to
series numbers within each of the report's sections.

Table 1. Summary of Recent Data and Current Changes for Principal Indicators
Percent change

Basic data '
Timing
classification3

Series title

Unit
of
imasure

Average
1978

I. CYCLICAL INDICATORS
A. Composite Indexes

1979

i«t n
1980

2dQ
1980

3<JQ
1980

Aug.
1980

Sept.
1980

Oct.
1980

Aug.
to
Sept.
1980

Sept.
to
Od
I960

«

IstQ
to
2(1 Q
1980

2dQ
to
3dQ
1980

8
1

i

910. Twstvs loading indicators
920. Four coincident indicators
930. Six lagj)ing indicators

1967=100 ..
U,l
do. . . .
C.C.C
do, . . .
Lg.lg.lg

141.8
140.1
143.1

140.1
145.1
166.4

133.5
144.7
183.4

124.1
138.0
182.8

131.5
136.6
163,0

131.1
136.0
161.3

135.1
137.8
164.0

136.3
139.
171.8

3.1
1.3
1.7

0.9
1.1
4.8

-7.0
-4.6
-0.3

6.0
-1.0
-10.8

91Q
920
930

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

98.1
115.7
106.2
93.2
149.0

96.8
113.5
105.9
91.7
145.5

95.7
110.1
102.2
89,4
137.1

89.4
104.2
98.4
88.7
129.2

92.9
107.9
99.9
NA
135.9

92.8
107.4
99.6
90.7
136.7

93.8
109.9
101.6
NA
137.7

94.9
107.7
103.4
NA
138.2

1.1
2.3
2.0
NA
0.7

1.2
-2.0
1.8
NA
0,4

-6.6
-S.4
-3.7
-0.8
-5.8

3.9
3.6
1.5
NA
5.2

913
914
915
916
917

Marginal employment Adjustments:
*1, Average workweek, prod, workers, mfg
LL,L
21. Avg. weakly overtime, prod, workers, rnfg.2 . . UC.L
2, Accession rate, per 100 employees, mfg.2
L,L,L
6. Avg. weekly initial claims (inverted4) . . .
L,C,L
*3, Layoff rate, per 100 employ., mfg. (inv.4)2 . . l,U
4. Quit rate, per 100 employees, mfg.2
L.Lg,U

Hours
do. . . .
Percent
Thousands. .
Percent
do. . . .

40.4
3.6
4.1
339

40.2
3.3
4.0
381

40.1
3.1
3.8
406

39.4
2.7
3.1
607

39.3
2.6
3.6
513

39.4
2.7
3.6
502

39.5
2.7
3.8
501

39.6
2.8
3.9
439

0.3
0.
0.2
0.2

0.3
0.1
0.1
12.4

-1.7
-0.4
-0.7
-49.5

-0.3
-0.1
0.3
IS. 5

2.1

2.0

1.9

1.4

1.3

1.3

1.3

1.3

0.

-0.5

1
21
2
fi
3
4

Job Vacancies:
60. Ratio, help-wanted advertising to persons
unemployed2
46. Help-wanted advertising

Ug,U
Ug,U

Ratio
1967-100...

0.738
149

0.786
158

0.699
150

0.446
116

0.442
119

0.434
117

0.464
122

0.472
127

0.030
4.3

u,c,c
u,c,c
c,c,c
L,C,U

A.r.,bif.hrs,,
Thousands. .
do. . . .
do. . . .

164.56
91,031
86,697
25,585

169.89
93,648
89,886
26,504

171.97
94,486
91,120
26,605

169.39
93,622
90,489
25,763

168.36
93,777
90,125
25,315

168.44
93,826
90,142
25,312

169.01
93,765
90,365
25,470

169.54
93,851
90,622
25,611

0.3
-0.1
0.2
0.6

U,lg,U

Percent

58.59

59.25

59.17

58.41

58.27

58.23

58.28

58.19

0.05

Thousands . .
Percent
do. . . .
Weeks
Percent

6,047
6.0
3.2
11.9
1.4

5,963
5.8
3.0
10.8
1.2

6,390
6.1
3.2
10.7
1.3

7,808
7.5
4.2
11.2
1.6

8,018
7.6
4.4
12.4
2.0

8,019
7.6
4.3
12.6
2.1

7,827
7.5
4.4
13.1
2.2

8,005
7.6
4.1
13.3
2.2

2.4
0.1
-0.1
-4.0
-0.1

Leading Indicator Subgroups:
913. Marginal employment adjustments
814. Capital investment commitments
915, Inventory investment and purchasing
916. Profitability
917. Money and financial flows

.

L,L,L
L.L.L
l,U
U.L
UL.L

.....do.
do.
do.
do.
do,

B, Cyclical Indicators by Economic Process
B1. Employment and Unemployment

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

Comprehensive Unemployment;
37, Total unemployed (inverted 4 }
U9.U
43. Unemployment rate, total (inverted4)2
Ug,U
45. Avg. weekly insured unemploy- rate (inv.4)2 . . Ug,U
*91. Avg. duration of unemployment {inverted4) . , Lg,lg,lg
44, Unemploy. rate, IS weeks and over (inv. 4 ) 2 .. Lg.Lg.Lg

0.

-0.1

0.008 - 0 . 2 5 3 -0.004
4.1 -22.7
2.6

60
46

-0.6
0.2
-0.4
-1.7

48
42
41
40

0.3
0.1
0.3
0.6

-1.5
-0.9
-0.7
-3.2

-0,09

-0.76

-0.14

90

-2 . 3
-0.1
0.3
-1.5
0.

-22.2
-1.4
-1.0
-4.7
-0.3

-2.7
-0,1
-0.2
-10.7
-0.4

37
43
45
91
44

-0.2
-0.2

0.5
0.6

-2.5
-1.4
-1.7

0.2
0.8
-0.3

50
52
51

62. Production and Income
Comprehensive Output and Income:
SO GNP in 1972 dollars
52. Personal income in 1972 dollars
*51. Pers. income less transfer pay., 1972 dollars ..
63, 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, Vilue of goods output, 1972 dollars
Capacity Utilization:
82. Capacity utilization rate, mfg,, FHB 2
83. Capacity utilization rate, mfg., BEA J
04. Capacity utilization rate, materials, FRB2

C.C.C

c.c.c
c,c,c
c,c,c

c,c,c
c,c,c
C.L.L
C.C.C
L.C.U
L.C.U

A.r., bil.dol.
do ..
.do. .

1399.2 1431.6 1444.7 1408.6 1411.7
1145.2 1178.3 1182.2 1165.1 1174.5 1175.5 1173.6 1179.3
9 9 5 . 7 1024.1 1024.3 1006.9 1003.5 1005.2 1002.9 1009.3

do

243.5

246.0

238.5

228.1

225.1

225.0

226.6

227.6

0.7

0.4

-4.4

-1.3

33

1967-100...
do. . . .
do. . , .
A.r., bll. dol.

146.1
139.7
156.9
639.5

152.5
146.4
164.0
653.1

152.5
144.1
165.5
659.7

144.6
133.9
158.3
636.9

142.0
129.7
156.8
633.3

141.8
129.3
156.4

143.7
131.5
159.3

146.0
134.6
160.9

1.3
1.7
1.9

1.6
2.4
1.0

-5.2
-7.1
-4.4
-3.S

-1.8
-3.1
-0.9
-0.6

47
73
74
49

Percent
.do
do. . . .

84.4
84
85.6

85.6
82
87.4

83.4
80
85.5

77.9
76
78.7

75.6
NA
74.8

-5.5
-4
-6.8

-2.3
NA
-3.9

82
83
84

83. Consumption, Trade, Orders, and
Deliveries
Orders and Deliveries;
6 New orders durable goods
1,1,1 Bil.dol
7. Now orders, durable goods, 1972 dollars
L.L.L
do. . . .
*8. New orders, cons, goods and rntls., 1972 dol. . UL.L
do. . . .
2
2B. Chg. in unfilled orders, durable goods
do. . . .
U,L
9B. Mfrs.' unfilled orders, durable goods5
L.Lg.U ' Bil. dol., EOF
*32 Vendor performance2 <§) , . ,
L,L,L ! Percent

70.19
77.20 80.01 6 8 . 7 3 7 5 . 2 8 7 2 . 2 3 7 9 . 3 7 80.38
41.48
41.40 39.61 33.71 3 6 . 2 0
34.71 38.01 38.08
37.16
36.46 35.21 29.45
3 2 . 2 9 31.80 3 3 . 2 6 3 5 . 5 8
3.68
3.26
2 . 3 3 -1.50
1.55
2.81
0.17
1.21
228.82 267.88 274.88 270.38 275.04 272.23 275.04 276.25
45
64
63
33
39
35
34
44

Consumption and Trade;
&6. Manufacturing and trade sales
*57. Manufacturing and trade sales, 1972 dollars . .
75. Industrial production, consumer goods
04 Sales of retail stores
1
J9, Sales of retail stores, 1972 dollars
65. Personal consumption expend., autos
58 Index of consumer sentiment {§)

c.c.c Bil.dol
C,C,C '
do. . . .
C,L,C
1967-100...
C,L,U
Mil. dol
U,L,U i
do. . . .
L,C,C
A.r., bil. do).
1,1,1 101966=100'

254.26
156.32
149.1
66,741
44,314
68.0
79.4

l,U
L.L.L

132.9
131.7
128.9
117.7
3 9 , 9 9 6 43,714 4 3 , 8 8 2 41,394

288.28
159.82
150.8
73,837
44,800
69.2
66.0

309.65
158.76
148.3
77,997
44,344
71.5
63.5

293.99
148.54
143.3
75,200
41,777
52.5
54.4

309.92
151.89
142.9
79,015
42,967
58.8
67.8

308.02
148.34
142.8
78,770
42,903

NA
317.58
155.31
NA
143.8
145.5
79,987 79,868
42,911 4 2 , 5 0 6

9.9
9.5
4.6
2.64
1.0
5

1.3
0.2
7.0
-1.60
0.4
3

-14.1
-14.9
-16.4
-3,83
-1.6
-12

9.3
7.4
9.6
3. OS
1.7
2

6
7
8
25
96
32

3.1
4.7
0.7
1.5
0.

NA
NA
1.2
-0.1
-0.9

S.4
2.3
-0.3
5.1
2.8
12.0
24.6

f>6
§7
75
54
S9

0.4
NA

67.3

73.7

75.0

9.5

1.8

-5.1
-6.4
-3.4
-3.6
-5.8
-26.6
-14.3

118,2
117.7
NA 4 3 , 2 6 6

121.6
NA

NA
NA

3.3

NA
NA

-8.7
-5.7

ss
SB

B4. Fixed Capital Investment
Formation of Business Enterprises:
*12, Net business formation
13, Now business incorporations




1967-100...
Mumbar. . . .

NA

12
13

Basic data1
Timing
classification3

Series title

Unit
of
measure

Potent champ

Average

Aug.

IstQ

im

1979

24 Q

3dQ

1980

1980

1980

Aug.
1980

Sept.
1980

to
Sept.

Oct.
1980

1980

IstQ
to
2dQ

Oct.
1980

2dQ
to
3dQ

1980

Sept.
to

1980

Series numtwr

1

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:
1 0. Contracts and orders, plant and equipment . . .
*20. Contr. and orders, plant and equip.,
1972 dol
24. New orders, cap. goods indus,, nondef ense . . .
27. New orders, capital goods industries, nondefense, 1972 dollars
9. Construction contracts, commercial and industrial buildings, floor space
1 1 New capital appropriations, mfg
97. Backlog of capital appropriations, mfg.s
Business Investment Expenditures:
61. Business expend., new plant and equipment ..
69. Machinery and equipment sales and business
construction expenditures
76. Industrial production, business equip.
86. Nonresid. fixed investment, total, 1972 dol. . .
Residential Construction Commitments and
Investment:
28. New private housing units started, total
*29. New building permits, private housing
89. Fixed investment, residential, 1972 dol

L,L,L

Bil.dol

22.01

25.32

26.06

22.77

24.37

23.96

24.28

23.99

1.3

-1.2

-12.6

7.0

1

13.60
18.30

14.57
21.64

14.18
22.64

12.37
20.57

13.12
20.75

12.57
19.37

13.08
21.27

12.52
20.80

4.1
9.8

-4.3
-2,2

-12.8

6.1
0.9

2
2

1.1

2

L,L,L
L,L,L

do. . . .
do. . . .

L,L,L

do. . . .

11.41

12.68

12.57

11.36

11.49

10.50

11.73

11.09

L,C,U Mil. sq.ft. . .
U,Lg,U BiLdol
C,Lg,Lg Bit. dol., EOP

80.73
16.78
63.43

90.34
22.20
76.66

90.91
29.50
84.09

68.94
68.22
25.86 24.93
87.94 . 89.84

65.99

66.40

71.38

11.7

-5.5

2 3 0 . 1 3 271.93 3 0 0 . 3 9 2 9 2 . 5 5 2 9 4 . 0 1 2 8 5 . 4 7 3 0 2 . 7 3
175.7
170.5
160.3
171.3
172.0
170.4
170.5
151.2
140.1 148.8
145.3
143.5

7.5

153.82 177.09 191.36 193.89 191.24

do. . . .
C,Lg,Lg
C,Lg,U 1967=100...
C,Lg,C A.r., bit. dol.

0.6

L,L,L

A.r., thous. .
1967=100...
A.r., bit. dol.

Inventory Investment:
30. Chg. in business inventories, 1972 dol.2
L,L,L
*36. Change in inventories on hand and on order,
1972 dollars (smoothed 6 ) 2
L LL
31. Chg. in book value, mfg. and trade invent.2 . . UL,L
38. Chg, in mtl. stocks on hand and on order 2 . . . , L,L,L

do. . . .

14.1

do. . . .
do. . . .
Bil.dol

19.02

2,020
145.4

1,744
123.8

60.1

56.7

1,263

1,053

91.7
51.7

72.5
40.7

1,413
112.0

-9.6

1,429
109.9

1,545
126.3

NA
171.7

1,569
107,7

6.0
0.

NA
0.7

8.1

1.6
-14.7

14.9

42.2

-24.2
-12.3
4.6

-1.0
-3.6

1.3

C,Lg,Lg AJ., bil.dol.

L,L,L
L,L,L •

-9.1

-1.4

-2.6
-2.1
-3.9

-16.6
-20.9
-21,3

2.2

0.5
-0.9
-1.2

34.2
54.5

3.7

1
9
6
6
7
8

2
2
8

B5. Inventories and Inventory Investment

Inventories on Hand and on Order:
71. Mfg. and trade inventories, total5
*70. Mfg. and trade invent., total, 1972 dol.5
65. Mfrs.' inventories of finished goods5
77. Ratio, inventories to sales, mfg. and trade,
constant dollars2
78. Materials and supplies, stocks on hand and on
order 3
...

9.7

0.3

10.62 -10.96

2.6

2.3

-6.2

- 8 . 9 3 -10.35 -10.88

-4.72

1.8
0.2
3.6

-0.2

NA
NA
NA

-0.3
-0.6

Lg,Lg,Lg Ratio

1.65

NA

-0.09

NA

0.12

,168.52 199.20 2 0 5 . 4 3 199.90 201.05 199.76 201.05

NA

0.6

NA

-2.7

1.57

L,Lg,Lg Bil. dol., EOP

1.60

1.62

30.8

-1.84

1.74

29.7
0.39

1.70

29.3

-1.50

1.74

0.8

0.6

3
3
3

NA
NA
NA

Lg,Lg,Lg Bil. dol., EOP
3 8 0 . 6 4 4 2 7 . 0 4 4 3 9 . 3 2 4 4 7 . 0 3 4 5 4 . 4 6 451.95 4 5 4 . 4 6
do. . . . i 2 4 9 . 5 9 2 5 7 . 3 2 2 5 6 . 8 8 2 5 7 . 5 0 2 5 7 . 0 1 2 5 7 . 7 4 2 5 7 . 0 1
Lg,Lg,Lg
do. . . .
Lg,Lg,Lg
77.19
63.88
70.53
73.94
76.61 76.76
76.76

49.1
2.08

3

-1.1
2.23

2.79

46.4
2.56

-8.8

-18.3
-3.92

30.1
1.29

43.2
2.05

6.16

-1.42

NA
NA
NA

NA
NA
NA

2.03

1.7
0.2

-0.04
0.6

7
7
6
7
7

B6. Prices, Costs, and Profits
Sensitive Commodity Prices:
*92. Chg. in sensitive prices (smoothed 6 } 2
23 Industrial materials prices©
Stock Prices:
*19 Stock prices 500 common stocks@

Percent
1967=100...

1.23

2.08

2.51

0.19

1.10

1.12

1.91

2.46

231.0

293.0

318.5

282.6

289.3

292.1

298.3

300.8

2.1

0.8

-2.32
-11.3

0.91

U.UL

2.4

2.9

-1.7

13.7

L,L,L

...

LUL

1941-43=10.

9 6 . 0 2 103.01 110.30 108.40 123.28 1 2 3 . 5 0 126.51 130.22

Profits and Profit Margins:
1 6. Corporate profits after taxes
18. Corp. prof its after taxes, 1972 dollars
79. Corp. profits after taxes, with IVA and CCA . .
80
do
in 1972 dot....
1 5. Profits (after taxes) per dol. of sales, mfg.2 . . .
26. Ratio, price to unit labor cost nonfarm bus

L,L,L
U,L
L,C,L
L,C,L
L,L,L
L,L,L

A.r., bil. dol.
do. . . .
do. . . .
do. . . .
Cents
1967=100. . .

121.5

144.1

158.0

127.1

78.5
83.1
54.2

85.7
85.6
51.6

88.8
72.6
41.4

69.9
75.2
41.7

95.6

94.3

93.6

93.3

Cash Flows:
34 Net cash flow corporate .
35 Net cash flow corporate, 1972 dollars

L,L,L
L,L,L

A.r., bil. dol.
do. . . .

194.1
121.5

222.3
128.8

238.8
131.3

Lg.Lg.Lg 1967=100...

194.0

214.0

227.5

Unit Labor Costs and Labor Share:
63. Unit labor cost, private business sector
68. Labor cost (cur. dol.) par unit of gross
domestic product (1972), nonfin. corp
*62 Labor cost per unit of output mfg
64. Compensation of employees as percent of
national income2

Lg,Lg,Lg Dollars
Lg,Lg,Lg 1967=100...

5.4

5.7

5.6

0.55

2.4

9
2
1

93.9

-1.2
-0.3

NA
0.6

1
1
7
8
1
2

207.8
111.7

218.9
114.8

-13.0
-14.9

5.3
2.8

3
3

235.6

240.4

3.6

2.0

6

3.2
5.1

1.1
2.8

6
6

4.4

137.2

-19.6
-21.3
3.6
0.7

73.7
73.1
39.9

NA

1.020
164.1

1.115
175.0

1.182
185.0

1.220
194.4

1.234
199.9

75.7

Lg,Lg,Lg Percent

0.79

75.8

76.4

77.4

76.9

200.0

199.9

199.5

0.

-0.2

7.9
5.4
-2.8
-4.3

1.0

-0.5

6

-0.39

-0.43

0.06
0.06

0.10
0.01
-3.7
-1.8

1.37
0.44
0.08

1.6
2.1

3
10
10
10
10

0 . 0 4 0 -0.050
0 . 0 0 5 -0.003 -0.011

10
10

37.02
36.00
38.95

3
11
11
11

B7. Money and Credit
Money:
85 Change in money supply (M1-B)2
102 Change in money supply (M2)2
*t04. Chg. in total liquid assets (smoothed6)2
105 Money supply (M1-B), 1972 dollars
*106 Money supply (M2) 1972 dollars

U,L
L,C,U
L,L,L
L,L,L
L,L,L

Percent.
do.
do.
Bil dol
do.

Velocity of Money:
107 Ratio GNP to money supply (M1*B)2
108. Ratio, pers. income to money supply (M2)2 ..

c,c,c

Ratio

Credit
33
112
1 13.
1 10.

Flows:
Change in mortgage debt2
Change in business loans2
Change in consumer installment debt2
Total private borrowing




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

0.66
0.67
0.97

0.60
0.71
0.95

0.41
0.60
0.65

-0.02
0.70
0.66

1.35
1.14
0.74

1.80
1.21
0.74

1.32
0.71
0.85

0.93
0.77
0.91

222.5
864.4

215.6
846.2

206.3
816.5

198.6
801.5

201.7
818.3

202.3
820.5

202.9
818.1

202,8
816.2

-0.3

C,Lg,C

do. . . .

6.125
1.273

6.330
1.310

6.460
1.332

6.500
1.329

6.450
1.318

1.315

1.320

1.325

0.005

L,L,L.

A.r.,bil.dol.
do
do. ...
do. . . .

66.52
30.23

75.97
30.35
17.40

NA
29.36
NA

17.22

LL,L
L.UL

L,L,L

24.93
61.95
86.19
74.78
90.83
14.27 2 2 . 8 8 29.93 -11.45 2 4 . 5 5
3.42
44.35
35.50 20.41 -35.53
346.63 356.98 352.79 171.74 2 8 3 . 0 3

0.18

-0.48
-0.50
0.11

0.3

9.45
0.12

0.
-0.2

NA - 4 9 . 8 5
-0.99 -41.38
NA - 5 5 . 9 4
-51.3

64.8

Table 1. Summary of Recent Data and Current Changes for Principal Indicators—Continued
Basic data1
Timing
classification1

Series title

Unit
of
measure

Fervent chatty

Average

Aug.

1st 0
1978

1979

2dQ

3<JQ

1980

1980

1980

Aug,
1980

Sept.
1980

to
Sept.

Oct.
1980

1980

Sept.
to
Oct.
1980

Ji

IstQ
to
2dQ

2dQ
to
3dQ

1980

1980

c
C

'C

8

I. CYCLICAL INDICATORS-Con.
87, Money and Credit-Con.
Credit Difficulties:
14, Liabilities of business failures {inv.4)®
39. Delinquency rats, instal, loans (inv.4)3 s

L.L.I
L,L,L

Mil.dol
Percent, EOF

Bank Reserves:
93. Fro0 reserves (inverted 4 } 3 © . . .
94. Borrowing from the Federal Reserve2©

L.U.U
L,Lg,U

Mil. dol

Interest Hates:
119. Federal funds ratea<§>
114. Treasury bill rate 2 ®
115. Treasury bond yields2©
116. Corporate bond yields2®
117. Municipal bond yields2®
118. Mortgage yields, residential3 ©
87. Bank rates on short-term bus. loans3®
*109. Average prime rate eharged by banks2©

2.45

-679

do. . . .

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
!
Ls.Lg.Lg
do.

221.33 222.28 236.06 415.33

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

Outstanding Debt:
66. Consumer installment debt3 . . .
Lg,Lg,lg Bil.dol., EOF
*72, Commercial and industrial loans outstanding,
weekly reporting large comm. banks
Lg,Lg,Lg Bil.dol
*95. Ratio, consumer install, debt to pars, income 3 . Lg.lg.Lg Percent

872

7.94
7.22
7.89
8.98
6.02
9.75
9.80
9.06

2.64

2.53

2.74

-1,131 -1,715 -1,070
1,907
1,279
1,338
11.20
10.04
8.74

10.05
6.52

10.89
13.18
12.67

15.05
13.46
11.15
12.99

12.69
10.05
10.02
12.03

NA 3 4 5 . 4 1
2.70

2.94

-471

-356

774

687

NA
2.70

NA
NA

-1,086 -1,018
1,244
1,335
12.81
11.58
11.20
13.17

NA
0.24

730
557

MA
NA
-68
91

-75.9
-0.31

0.04

14
39

-645
-628

-599
-SOS

S3
94

HA

9.61
9.26

10.53
12.31

10.87
10.32
10.94
12.74

8.23

7.95

8.58

8.67

8.94

NA
15.67
16.40

12.43
17.75
16.32

13.40
11.56
11.61

13.54

14.26

14.38

1.26
1.06
0.41
0.43
0.27
0.72

11.12

12.23

13.79

1.11

2 6 7 . 6 3 303.13 3 0 8 . 2 4 2 9 9 . 3 5 3 0 0 . 2 1 2 9 8 . 7 6 3 0 0 . 2 1
126.31 147.06 161.16 160.17 162.82 162.82 165.35
14.34
14.56
13.95
13.94
13.86
14.99
14.90

9.11

1.94
1.26
0.26
0.43
0.17
0.12

-2.36
-3.41
-1.13
-0.96
-0.28
NA

-2.85
-0.81

2.08

9.84
9.24

10.43
12.18

1.56

-0.08

-6.19
-4.71

119
114
115
11 f>
117
11«
67
109

0.41
0.15
0.63
0.9?

NA

0.5

NA

-2.9

0.3

66

167.79
NA

1.6
-0.08

1.5
NA

-0.6

1.7
-0.61

72
95

2.3
1.9

310
320
320
322

-0.34

II. OTHER IMPORTANT ECONOMIC
MEASURES
B. Prices, Wages, and Productivity
B1. Price Movements
310.
32Q.
32Qe.
3?2
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 uquipmant
PPI finished consumer goods

1972=100...
1967-100. . .
Percent
1967-100...

|

152.0
195.4
0.7
211.4

165.5
217.4
1.0
234.5

174.5
236.5
1.4
245.5

179.0
245.0
0.9
249.4

183.2
249.6
0.6
257.3

249.4
0.7
257.5

251.7
1.0
261.6

253.9
1.0
263.6

0.9
0.3
1.6

0.9
0.
0.8

do.
do.
do.
do.
do.

209.3
240.2
215.5
199.1
192.6

235.6
282.2
242.8
216.7
215.7

259.0
302.6
271.3
230.1
237.5

264.2
293.2
275.8
237.0
242.9

272.3
327.0
281.7
242.7
251.1

273.1
331.6
282.1
243.5
252.7

274.1
335.8
283.7
243.2
252.3

277.0
342.3
286.3
246.6
2 5 3 . El

0.4
1.3
0.6

1.1
1.9
0.9
1,4
0.6

212.9

229.8

242.6

248.5

253.7

254.0

255.1

257.!>

105.6
247.1
113.7
118.3

102.3
261.1
110.1
117.7

101.4
268.0
109.5
116.8

101.8
273.7
109.9
116.9

102.0

101.4

101.3

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

-0.1
-0.2

2.6
3.6
-0.5

-0.3

1.6

3.2

2.0

3.1

1.7
3.0
2.3

2.1
2.4
3.4

330
3,H
332
333
334

2.4

2.1

340

0.4
2.1
0.4
0.1

341
345
346
370

0.4
0.2
2.7
5.0
0.
1.9

44,1

-3.1

11.5

82. Wacjes and Productivity
340. Average hourly earnings, production workers,
private nonfarni economy
341 . Real average hourly earnings, production
workers, private nonfarm economy
345. Average hourly compensation, nonfarm bus. . .
346. Real avg. hourly comp., nonfarm business , . .
370. Output per hour, private business sector

do. . . .
do.
do.
do.
do.

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

109.0
226.9
116.1
119.3

0.4
-0.6

0.8
-0.1

-0.9

2.6
-0.5
-0.8

C. Labor Foree, Employment, and
Unemployment
441
442.
37.
444.
446.
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, 1B-19 years of age

Millions . . . .
do. . . .
Thousands. .
do. . . .
do. . . .
do. . . .

Force Participation Rates:
Males, 20 years and over 3
Females, ?,0 years and over 2
Bothsoxos. 16-19 yfflrs of age2

Percent
do. . . .
do. . . . •

79.8
49.6
58.0

79.8
50.6
58.1

79.5
51.2
57.6

79.6
51.4
56.9

79.5
51.5
56.4

A.r..bil.dol.
do. . . .
do. . . .
do. , . .
do. . . .
do. . . . ;

432.1
459.8
-27.7
331.0
303.6

497.6
509.0
-11.4
354.6
330.0

538.4
561.3
-22.9
375.3
350.6

529.9
579.1
-49.2
373.2
353.6

550.0
608.4
-50.4
384.4
360.4

27.4

24.6

24.6

19.5

23.9

100.42 102.91 104.19 104.70 105.09 105.02 105.03 105.18
97.21
94.37
97.18
96.89
97.07
96.94
97.80
97.01
7 , 8 0 8 8,018
7,827 8,005
6,047
6,390
5,963
8,019
3,744
3,542
3,682
3,541
2,252
2,593
3,719
2,223
2,771
2,600
2,601
2,628
2,473
2 , 2 3 6 2,213
2,271
1,693
1,698
1,709
1,610
1,559
1,666
1,528
1,526
79.5
51.7
55.2

79.5
51.3
56.7

79 „ 3
51.4
56.8

0.
0.2
-2.4

1.7
-5.9
-5.8

0.
-0.4

1.5

0.1
0.
2.3
-5.4
12.1

3.2

-0.2

0.1
0.1

0.5
-0.9
22.2
36.6
14.5

9.2
0.1
0.2
-0.7

-0.1

0.1
-0.5

442
37
444
445
446
451
452
453

D. Government Activities
01. Receipts and Expenditures
501 .
SO?,,
500.
51 1 .
512.
510.

Federal Government receipts
federal Government expenditures
Federal Government surplus or deficit 2
Stato and local government receipts
State and local government expenditures
State and local govt. surplus or deficit2

017
B?5.
548.
804,

Defense Department obligations
Military prime contract awards „
Now orders, defense products
National defense purchases

-1.6

3 .?
-26.3
-0.6

0.9
-5.1

3.8
S.I
-9.2

3.0
1.9
4.4

SOI
502
SOO
511
512
510

02. Defense Indicators
Mil.dol
do. . . .
do. . . .
A.r.,bil.dol.

10,360 11,132 1 3 , 2 4 6 13,346
5,157
7,413
5,356
6,149
3,467
3,284
3,875
4,591
99.0
108.3
119.6
124.1

Mil.dol.
do.
do
do.
do
do.

11,955 15,136 17,705 18,263 18,626 19,103 18,701
2,483
2,896
3,430
3,543
3,682
3,648
3,131
2,500
3,391
3,711
4,081
3,009
4,230 4,027
1 4 , 3 3 3 17,195 21,064 19,910 19,232 1 9 , 2 3 6 19,465
3,278
6,329
5,384
4,676
6,782
6,018
4,982
1,725
1,853
1,851
2,171
2,139
2,270
1,965

NA 14,310
NA 7 , 6 3 3
5,113
4,515
129.1

NA
NA
6,458

NA
NA
3,881

NA
NA
43.0

NA
NA
-39.9

0.8
20.6
18.5

3.8

NA
NA
11.4

4.0

517
S2§
548
564

E. U.S. International Transactions
E1 . Merchandise Trade
602.
604.
608.
81?.
614.
818.

Exports, total except military aid
Exports of agricultural products .
Exports of nonelectrical machinery . . .
General imports total
Imports of petroleum and produets.
Imports of auto mobiles and parts




...
...
...

. ..

NA
NA
NA
NA
NA
NA

-2.1
-0.9
-4.8

1.2
-17.2
6.1

NA
NA
NA
NA
NA
NA

3.2
-8.7

9.4
-5.S
-6.7
-5.8

2.0
13.2
10.0
-3.4

-14.9
17.3

602
604
606
612
614
616

Table 1. Summary of Recent Data and Current Changes for Principal Indicators—Continued
Bask data1
Unit

of

Series title

1977

1978

1979

3dQ

4th Q

IstQ

2dQ

3dQ

1979

1979

1979

1980

1980

1980

4th Q
to
IstQ

IstQ

to
20 Q

2dQ
to
3dQ

1980

2dQ

measure

.

Percent change

Average

1980

1980

c

.i
Js

II. OTHER IMPORTANT ECONOMIC
MEASURES-Con.
E2. Goods and Services Movements Except
Transfers Under Military Grants
618
620
622
651
652
668
669
667

Merchandise exports
Merchandise imports
..
Merchandise trade balance2
..
Incorne on U S investments abroad
Income on foreign investment in the US
Exports of goods and services
Imports of goods and services
Balance on goods and services2

3 0 , 2 0 4 35,514 45,514 42,815
3 7 , 9 2 2 4 3 , 9 5 3 52,881 5 0 , 8 8 5
-7,718 - 8 , 4 4 0 -7,367 -8,070
8,147 10,743 16,492 15,250
3,650
8,365
7,980
5,518
46,177 55,260 71,627 67,763
48,543 57,560 70,408 67,873
- 2 , 3 6 6 -2,301 1,220
-110

Mil. dol

do
do
do
do
do
do
do

....

47,198
54,258
-7,060
18,050

50,237
59,462
-9,225
18,407
8,731 9 , 5 2 4
74,773 78,305
72,267 78,555
-250
2,506

54,708
65,558
•10,850
20,846
10,752
85,647
86,470
-823

54,710 56,419
8.9
6 2 , 2 6 5 59,145
10.3
-7,555 -2,726 -1,625
16,772
NA
13.3
10,417
NA
12.9
81,522
9.4
NA
82,780
NA
10.1
-1,258
NA
-573

0.

3.1

-5.0

-5.0

3,295

4,829

-19.5

NA
NA
NA
NA
NA

-3.1
-4.8
-4.3
-435

618
620
622
651
652
668
669
667

A. National Income and Product
A1. GNPand Personal Income
50.
200
213
224
225.
217.
227

A.r., bil.dot
GNP in 1972 dollars
GNP in current dollars
do
do
Final sales, 1972 dollars
Disposable personal income current dollars . . .
. .do
Disposable personal income, 1972 dollars
..do
....
Per capita GNP in 1972 dollars
A.r., dollars
.do
Per capita disposable pers income, 1972 del. ..

1340.5
1899.5
1327.4
1305.1
929.5

6,180
4,285

1399.2
2127.6
1385.1
1458.4
972.6

1431.6
2368.8
1421.9
1624.3
994.8
6,401
6,494
4,512
4,449

1422.3
2329.8
1404.1
1601.7
993.0
6,460

4,510

1433.3
2396.5
1426.2
1640.0
993.4
6,494

1440.3
2456.9
1439.0
1683.1
996.2
6,509
4,502
4,501

1444.7
2520.8
1444.4
1737.4
998.5

6,514
4,502

1408.6
2521.3
1406.0
1755.9

1411.7
2586.5
1417.8
1810.7

983.1
6,337
4,423

991.7
6,332
4,448

0.3
2.6
0.4
3.2
0.2
0.1
0.

0.2
2.6
0.8
3.1
0.9

-2.5

0.
-2.7

1.1
-1.5
-2.7
-1.8

-0.1

0.6

50
200
213
224
225
217
227

A2. Personal Consumption Expenditures
231.
233
238
239
230
232
236
237

Total, 1972 dollars
Durable goods 1972 dollars
Nondurable goods 1972 dollars
Services 1972 dollars
Total current dollars
Durable goods current dollars
Nondurable goods current dollars
Services current dollars

935.4
936.5
910.8
861.7
900.8
924.5
915.0
921.9
925.9
138.2
147.1 144.8
146.9
146.7
145.4
127.4
132.9
146.7
344.1 3 4 9 . 2
349.1
347.1
332.7
343.3
355.1 354.1 347.8
426.1
429.9
433.6
437.0
435.6
390.8
410.8
428.3
442.0
L210.0 1350.8 1509.8 1475.9 1528.6 1580.4 1629.5 1626.6 1683.3
208.7
213.4
216.2
220.2
178.8
200.3
213.0
195.7
208.5
630.7
652.0
481.3
530.6
596.9
581.2
654.1 665.8
604.7
776.9
549.8
619.8
699.8
686.0
808.9
710.6
733.5
757.3

A.r.,bil.dol

do
do
do
do
do
do
do

0.1
-0.9
-0.3

0.8
3.1
1.9
3.4
3.2

1.2
4.3

-2.7

-12.4
-1.8
-0.3
-0.2

-0.2

1.5
3.5
6.5
1.8
4.1

-11.1
0.3
2.6

231
233
238
239
230
232
236
237

A3. Gross Private Domestic Investment
241
243
30
240
242
245

200.1
186.9

214.3

215.2

200.2

205.5

13.1

14.1

303.3
281.3

351.5
329.1

9.7
387.2
369.0

395.4
361.9

214.2
207.1
7.1
392.3
377.8

21.9

22.3

18.2

33.4

14.5

do

268.5

273.2

274.3

272.4

273.1

..do

100.6
167.9
396.2
144.4
251.8

98.6

99.4

98.1

97.4

174.6
435.6
152.6
283.0

174.9
476.4
166.6
309.8

174.3
466.6
161.7
304.9

98.4
88.2
10.3

108.9

119.9
102.3
17.6

175.9
185.8

207.2
217.5
-10.3

1525.8 1724.3
1156.9 1304.5

1924.8
1459.2

100.2
150.0

116.8
167.7

130.8
178.2

24.7
94.0

25.9

26.9

26.8

26.6

27.0

27.0

27.3

27.8

109.5

129.7

125.6

131.5

139.2

148.1

156.8

165.3

276.1
230.7

324.6
253.0

363.9
275.9

374.3
274.6

367.3
281.9

351.9
281.0

346.6
279.2

345.5
287.6

345.4
293.2

65.0

72.0
-0.3

73.8
13.2

85.9
12.7

70.3
14.0

64.4

86.3

84.9

-29.6
4.9

-34.4
4.7

do
do
do
do
do
do

Total 1972 dollars
Total fixed investment 1 972 dollars
Change in business inventories 1972 dol 2
Total current dollars
Total fixed investment current dollars
Chg in bus inventories current dol 2

221.7
203.5

207.7
206.3

203.2
202.9

1.4
387.2
381.7
5.6

0.3
387.7
383.0
4.7

175.6
477.8
162.9
314.9

277.1
101.1
176.0
501.2
178.4
322.8

116.0
102.9

122.2
102.1

13.2

20.1

257.5
262,1

243.7
251.9

267.3
269.5

-4.6

-8.1

-2.3

18.1

188.6
186.0
2.6
368.5
357.1

179.5
185.7
-6.2

-2.2
-1.6
-1.1

11.4

348.4
365.2
-16.8

-0.9

280.0

280.9

278.0

104.3
175.7
517.2
186.2
331.0

106.7
174.3
528.3
193.3
335.0

103.9
174.1
533.6
191.4
342.2

124.3
104.1

131.7
106.7

128.3

127.6

20.1

25.0

99.9
28.3

95.4
32.2

280.4
292.4
-11.9

308.1
321.7
-13.6

307.0
309.2

313.2
291.9

-2.2

21.3

0.1
0.3

-7.2
-8.3

-4.8
-0.2
-8.8
-5.5

2.3
-5.0
-6.8

6.7

2.3
-28.2

241
243
30
240
242
245

A4. Government Purchases
of Goods and Services
261
263
267
260
262
266

Total 1972 dollars
Federal Government 1972 dollars
State and local governments 1972 dollars
Total current dollars
.
Federal Government current dollars
State and local governments current dollars . .

.

.do
. .do
. .do
do

....

. .

1.0
3.2
-0.2

3.2
4.4
2.5

0.3
2.3
-0.8

2.1
3.8
1.2

-1.0
-2.6
-0.1

1.0
-1.0

2.1

261
263
267
260
262
266

A5. Foreign Trade
256
257
255
252
253
250.

do
do
do
do
do
do

Exports of goods and services 1972 dollars
Imports of goods and services 1972 dollars
Net exports of goods and serv 1972 dol 2
Exports of goods and services current dol
Imports of goods and services current -dol
Net exports of goods and serv., current dol.2 . .

. .

-9.9

97.9
11.0

6.0
2.5
4.9
9.9
10.0
-1.7

-2.6
-6.4

3.3
-0.4
-3.9
11.4

-0.5
-4.5

3.9
2.0
-5.6
23.5

256
257
255
252
253
250

A6. National Income and Its Components
220
280
282
286
284
288

National income
Compensation of employees
Proprietors' income with IVAand CCA
Corporate profits with 1 VA and CCA
Rental income of persons with CCA
Net interest .

do
do
. ,do
. . . .do
do
do

1897.9 1941.9 1990.4 2 0 3 5 . 4 2 0 2 4 . 6 2 0 6 8 . 6
1439.7 1472.8 1513.2 1555.2 1567.2 1591.5

129.3
176.6

130.3
180.8

134.5
176.4

130.0
175.0

120,5
152.8

125.6
158.3

2.3
2.8
-3.3
-0.8

0.
6.4

-0.5

0.8
-7.3

-12,7
1.1
5.9

2.2
1.6
4.2
3.6
1.8
5.4

220
280
282
286
284
288

0.
1.9

290
295
292
298
293

A7. Saving
290.
295
292
298
293

Gross saving (private and govt.)
Business saving
,.
Personal saving
Government surplus or deficit2
Personal saving rate2

do
do
do
do
Percent

-19.5
5.0

4.9

4.5

5.4

4.3

59.7
10.0

3.5

1.7
3.7

-1.5
-0.6

7.9
-8.3

0.2

-0.3

3.0
34.0

-31.3
1.2

NOTE: Series are seasonally adjusted except tor those indicated by®, which appear to contain no seasonal movement. Series indicated by an asterisk (*) are included in the major composite indexes. Dollar values are in
current dollars unless otherwise specified. For complete series titles (including composition of the composite indexes) and sources, see 'Titles and Sources of Series" at the back of BCD. NA - not available, as 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. NIA - national income accounts.
1
For a few series, data shown here have been rounded to fewer digits than those shown elsewhere in BCD. Annual figures published by the source agencies are used if available.
5
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 al) 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 isa weighted 4-term moving average (with weights 1, 2, 2, 1) placed at the terminal month of the span.




-1.6
-4.8
-0.2

CYCLICAL INDICATORS
A I

COMPOSITE INDEXES AND THEIR COMPONENTS

Chart Al. Composite Indexes
(Nov.) (Oct.)
P
T

(July)(May)
P T

(Aug.)(Apr.)
P T

(Apr.)(Feb.)
P T

(Dec.) (Nov.)
P
T

91ft Index of tweiw Ming indicators (safe 1, 3, 8, 12, 19, 20, 29, 32, 36( 92, 1W» 106)

(Nov.) (Mar.)
P
T

180140-

-s

130120110-

150140130-

110-

920, Index of four rougWy coinddent Wicators (series 41, 47r 51, 57)

10090210-6

-3

190180-

-2

1601SO-

±

-1

130-

930. Index of six lagging Mcahxs (sales 62, 70, 72, 91, 95, 109)

7

120+13

110109-

70-

1948 49 90 51 53 S3 54 55 9S 97 59 59 60 61 $2 63 64 65 §6 67 68 69 70 71 72 73 74 75 76 77 78 79 1980
NOTE: Numbers entered on the chart Indicate length of leads (-) and lags <+) In months from reference turning dates.
Current data for thesa series are shown on page 60.

10



NOVEMBER

1980

BCII

CYCLICAL INDICATORS
COMPOSITE INDEXES AND THEIR COMPONENTS—Continued

Chart Al. Composite Indexes—Continued
(Nov.) (Oct.)
P
T

(Aug.) (Apr.)
P T

(July)(May)

P

T

(Apr.) (Feb.)
P T

(Dec.) (Nov.)
P
T

(Nov.) (Mar.)
P
T

913. Marginal employment adjustments (series 1, 2, 3, 5)

Index: 1967=100
110-

100*

1201

914. Capfol investment commitments (series II 20, 29)

I
i

110100 -

90 J

915. Inventory investment and purchasing (series 8, 32, 36, 92)

Q1K

Prnffcihilm, ^wrii* 1Q ?fi

917. Money and financial flows (series 104, 106, 110)

100-

•s\f
-22

9080 -

-9

70-

60-

AX
T£

94Q. R^ coincident index to lagging index

i^-r

120-

-]}

110-

-^
v

-

/
v/

\
\

_\

j-

10090-

70 •*

1948 49 50 51 52 53 54 55 56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 71 72 73 74 75 76 77 78 79 1980
NOTE: Numbers entered on the chart indicate length of leads (-) and lags (+) in months from reference turning dates.
Current data for these series are shown on page 60.

ltd)

NOVEMBER 1980




11

CYCLICAL INDICATORS
A
_•

COMPOSITE INDEXES AND THEIR COMPONENTS-Continued
.iJ

Chart A2. Leading Index Components
(Nov.) (Oct.)
P
T

(July)(May)
P T

(Aug.)(Apr.)
P T

(Nov.) (Mar.)
P
T

(Dae.) (Nov.)
P
T

(Apr.)(Feb.)
P T

1. Average workweek, production wotkers,
manufacturing (hours)

4140-

Hf

3. Layoff rale, manufacturing (per 100 employees-inverted scale)

01-

3-

4*
4035-

8. New orders for consumer goods and materials, 1972 dollars (M. doL)

30252015-

32. Vendor performance, percent of companies reporting slower defturies (percent)

1007550-

i

25-

1501401301201101001816141210-

20. Contracts and orders for plant and equipment,
8-

6-

4«l

1948 49

50

SI

52

53

S4 55

56

57

58

59

60

61 62

63

64

65

66

67

68

69

70

71

73

73

74

75

76

77

78

79 1980

Current data for these series are shown on pages 61, 64t 65, and 66.

12



NOVEMBER 1980

BCII

CYCLICAL INDICATORS
A

COMPOSITE INDEXES AND THEIR COMPONENTS—Continued

Chart A2. Leading Index Components—Continued
(Nov.) (Oct.)

P

(July)(May)

T

P

T

(Aug.)(Apr.)

P

T

(Apr.)(Feb.)

P

(Dec.) (Nov.)

T

P

T

(Nov.) (Mar.)

P

T

29, New bunding permi^pnvate Housing unite (index: 1967=100)

36. Net change in inventories on hand and on order, 1972 dollars, smoothed1 (ana,, rate, bil. dol.)

92. Chang^ in sensitive prices, smoothed1 (percent)

LL,l

104. Change in total liquid assets, smoothed1 (percent) [L,L,L

19. Stock prices, 500 common stocks
(indexrl94143=10)

t

106. Money suppJy-M2-in 1972 dollars (foil, dol.)

1948 49 50 51 52 53 54 55 56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 71 72 73 74 75 76 77 78 79 1980
1
This series is a weighted 4-term moving average (with weights 1,2,2,1) placed on the terminal month of the span.
Current data for these series are shown on pages 67, 68, 69, and 71.

ltd)

NOVEMBER 1980




13

CYCLICAL INDICATORS
COMPOSITE INDEXES AND THEIR COMPONENTS-Continued

Chart A3, Coincident Index Components
(Nov.) (Get)
P T

(July)(May)
P T

(Aug.)(Apr.)
P T

(Dec.) (Nov.)
P
T

(Apr.)(Feb.)
P I

(Nov.) (Mar.)
P
T

80

41. Employees on ronagricurtural payrolls (millions)

706S

11001000900-

51. Personal income less transfer payments,
1972 doUais (ana rate, bil, M)

lt,m»l

~^~^

10U-

S
^f

*»~~
/ r ~ \ j

f^\ /

~^s

^
/
47. Industry production, total (index: 1967=100) ^ ~~V~

|c,c,c

700*

^r

Pi

V

130120110-

/™

57. Manufacturing and trade sales, 1972 dollats (bil. dot)

1SO-

100-

V

170
160
1SO
140
130

"-

120110
100"
9080-

k»yv
<*-***/

7060-

1948 49 50 51 52 53 54 55 56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 71 72 73 74 75 76 77 78 79 1980
Current data for these series are shown on pages 62, 63, and 65.

14




NOVEMBER

1980

KCII

CYCLICAL INDICATORS
AI

COMPOSITE INDEXES AND THEIR COMPONENTS—Continued

Chart A4. Lagging Index Components
(Nov.) (Oct.)
P
T

(July)(May)
P T

(Aug.) (Apr.)
P T

(Apr.) (Feb.)
P T

(Dec.) (Nov.)
P
T

(Nov.) (Mar.)
P

T

91. Average duration of unemoJovment (weeks—inverted scale'

70. Manufacturing and trade inventories, 1972 dollars (bit. dol.

6Z Labor cost per unit of output manufacturing (ihdex: 1967=100)

Average prime rate charged by banks (percent)

r^^

_ J \.

72. Commercial and industrial loans outstanding, weekly
reporting large commercial banks (ul. dol.)

yo. Katto, consumer installment oeot to personal income (percent;

1948 49

50

51

52

53

54

55

56

57

58

59

60

61

62

63

64

65

66

67

68

69

70

71

72

73

74

75

76

77

78

79 1980

Current data for these series are shown on pages 62, 68, 70, and 73.

NOVEMBER




1980

15

CYCLICAL INDICATORS
B

I

CYCLICAL INDICATORS BY ECONOMIC PROCESS

Chart Bl. Employment and Unemployment
(Aug.) (Apr.)
P T

(Nov.)
P

(Dec.) (Nov.)
P
T

(Apr.) (Feb.)
P
T

(Mar,)
T

[Marginal EmplQymen| Adjustments
42414039-

38-1

21. Average weekly overtime hours, production workers, manufacturing (hours)
3-

2. Accession rale, manufacturing (per 100 employees)

4-

5. Average weekly initial claims, State unempfeymerd ir^raoce (thousands—inverted scale)

Layoff rate, manufacturing (per 100 empJoyees—inverted seals) 11,1,1

4. Quit rate, manufacturing (per 100 employees)

1956 57

58

59

60

61

62

63

64

65

66

67

68

69

70

71

72

73

74

75

76

77

78

79

80 1981

Current data for these series are shown on page 61.

16



NOVEMBER

1980

BCII

CYCLICAL INDICATORS
B I

CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued

Chart Bl. Employment and Unemployment—Continued
(Aug.) (Apr.)

P

(Apr.) (Feb.)

I

P

(Dec.) (Nov.)

T

P

(Nov.)

(Mar.)

P

T

T

| Job |acancie$l

1.4-

60. Ratio, help-wanted advertising to number
of person? unemployed (ratio)

1.0-

O.G-

0.2-

200-1
175-

46. Hehmranted advertising (ihidac 1967=100^

110

150"
125100-

75-

180170-

[Compfehensive Employment|

160-

48. Employee-hours in nooagricultural establishments
j
(ann. rate, bil. ^**

1501401009590-

42. Persons engaged m nonagricultural activities (millions)

85*
807570-

payrolls (millions)

41. Employees on

65-

28-i

27-^

z:

252423-

X
40. Employees in goods-pfodudng irxJustries—mtrang,
manufaaunng, construction (millions)

Tv/V

2221-

\7
1956

57

58

59

60

61

62

63

64

65

66

67

68

69

70

71

72

73

74

75

76

77

78

79

80 1981

Current data for these series are shown on pages 61 and 62.

NOVEMBER




1980

17

CYCLICAL INDICATORS
B I

CYCLICAL INDICATORS BY ECONOMIC PROCESS-Continued

Chart Bl. Employment and Unemployment—Continued
(Nov.)
P

(Dec.) (Nov.)
P
T

(Apr.) (Fob.)
P I

(Aug.) (Apr.)
P T

(Mar.)
T

| Compfehensive Employment—ConT

i

!;

i

1

s

I!

yv^x,,

!| 1

^r

90. Ratio, civilian employment to toy population of forttog 3ge (percent)^/^

v

J

[10]

§857-

V~uA

U Lg U

«

/V^y^lK.

' '

^"^y

jps* S\r

/-uupr\i

V

^jf

\

>^r^

Ai^

S6-

LA/^

55-

L y ^ M \)LVW\ ~<J^
[Comprehensive Unemployment!
37. Number unemployed, total (n*ons—inverted scale) :'

43. Unemployment rate, total (percent-inverted scale)

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

91. Average duration of unemployment (weeks—inverted scale)
CO"

W-V

1618-

44. Unemployment rate, persons unemployed 15 weeks and over (percent—inverted scale)

19B6

57

98

59

60

61

§2

63

64

69

66

67

68

$9

70

71

72

73

74

79

76

77

78

79

80 1981

Currant data for these series are shown on page 62.

18



NOVEMBER 1980

CYCLICAL INDICATORS
B I

CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued

Chart B2. Production and Income
(Aug.) (Apr.)

P

(Apr.) (Feb.)

T

P

(Dec.) (Nov.)

T

P

(Nov.)

(Mar.)

P

T

T

1600 T

|Comprehensive Output and income]
1400*

50. GNP in 1972 dote, Q (ann. rate, ML dot)
[C,C,C I

13001200-

1000-

130012QO«

52. Persona! income in 1972 dollars (ann. rate, bil. dot.)
L

10

|c,c,c|

11001000900-

§00J

1100-

51. Personal income tes$ transfer payments in 1972 dofe
(ann. rate, bil. dol.)
_
I,

|C,C,C|

900-

:
800-

700600-

500-

53. Wages and salaries in mining, manufacturing, and
construction in 19)2 dollars (ann. rate, bil dd)

260-

VRol

240220200180160140-

JJU1

JLO

1956 57

58

59

60

' LJUi

61

62

63

64

65

66

67

68

69

70

!L_ ^ V

71

72

73

74

75

76

77

78

79

80 1981

Current data for these series are shown on page 63.

BtJ) NOVEMBER 1980



19

CYCLICAL INDICATORS
B I

CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued

Chart 62. Production and Income—Continued
(Aug.) (Apr.)

P

(Apr.) (Feb.)

T

P

(Nov.)

P

(Mar.)

P

(Dec.) (Nov.)

T

T

T

I Industrial Production
47. Industrial production, total (Woe 1967=100)

74. Industrial production, nondurable manufactures
(index: 1967=100) ff

73. Industrial production, durable manufactures
(index: 1967«100)

49. Value of goods
(ana rate, bu. dot

in 1972 dollars, 0

[Capacity Utilization!li
of capacity utilization, manufacturing (BEA), Q (percent)

82. Rate of capacity utilization, rtmmfaduring (FRB), Q (percent)

100-

84. Rate of capacity utilization, materials, Q (percent)

96-

1956

57

58

59

60

61

62

63

64

65

66

67

68

69

70

71

72

73

74

75

76

77

78

79

80 1981

Current data for these series are shown on pages 63 and 64.

20




NOVEMBER

1980

ItCII

CYCLICAL INDICATORS
B

CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued

Chart B3. Consumption, Trade, Orders, and Deliveries
(Aug.) (Apr.)
P

i

,

(Apr.) (Feb.)

T

;

P

(Nov.)

(Mar.)

P

(Dec.) (Nov.)
P
T

T

T

j

i,

!;

i;

»

•!

eummt dollars (bil. MM

!

\

I-

:

•

3U-

-

8070-

i•

';

i

i

!

|

j

i—i

x/'i

L.L.LI

(HI. dm.)

|^[] x

!

r

%

7, New orders, durable goods industries, 1972 dollars

;

1 „,,, , ,|

y

^T

\

Y

jN

;

j**v

:

Kjl ,
,

. ^
J
r

t/t

50 -

^ AV

"v\ , j

^j^ ^

40 -

30-

25. Change in unfilled orders, durable goods industries
(bil. dd; MCD moving
.
Lrt,L

i

1'

:

;

'

:

:l

"

300-

' '

280-

1

;

;

i
j
ii

:

/"

:J

(151

/

180-

96. Manufacturers' unfilled orders, durable goods industries /
^*—^^^
(hi! fM) i. . ..i
.«,„„ „„,
/,
•
^:
-,
-— ...^ -r-T- ,,

i

|ug>u|

•••^ | ( -

(

i!

^^-K^

I

,/

:

/~

"

''

:

i

32. Vendor petformance, percent of companies
reporting slower deliveries (percent)

:

'

220-

*v

140-

' '
100-

^

60 J
100

ul

7559-

'

1956 57

58

59

60

61

62

63

64

65

66

67

68

69

, >

J'

JL,

70

71

72

73

J

74

75

76

77

78

79

80 1981

Current data for these series are shown on page 64.

KCII NOVEMBER



1980

21

CYCLICAL IISIDICATORS
B I

CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued

Chart B3. Consumption, Trade, Orders, and Deliveries—Continued
(Aug.) (Apr.)
p
T

(Apr.) (Feb.)
P
T

(Nov.)
P

(Dec.) (Nov.)
P
T

(Mar.)
T
328'
300"

I Consumption and Trade|

56. Manufacturing and trade safe in current dollars-— /
160-

57-

Manutactunng and trade sates
in
1^2 doters (bil. doL)

IbO

Industrial ptoduction, consurner
(index: 1967=100)
—
C.L.C

WO-

130-

807060*
bb-

54. Sales of retail stores in current dollars (bit dot)->

5045-

59. Sates of retail stores in 1972 dollars (M. doL)

35-

III

55. Personal consumpOon expenditures, automoWtet, Q
(ana rate, bil (fci) rr-f

/\

40 «

58. Index of consuiw segment (1st Q 1966-100)
TO*

\/
1996

57

58

\

59

60

61

62

63

64

65

66

67

68

69

-A\ i

N^Xt

MA r
\/Y7

70

71

72

73

74

75

76

77

78

V / 10
%ji/
79

80 70fifte*

80 1981

Current data for these series are shown on page 65,

22



NOVEMBER

1980

II

CYCLICAL INDICATORS
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued
Chart B4. Fixed Capital Investment
(Aug.) (Apr.)
P
T

(Apr.) (Feb.)
P
T

(Dec.) (Nov.)
P
T

(Nov.)
P

[Formation of Business Enterprises)

(Mar.)
T

.
12, Net businessformation(iiKtec 1967=100)

1

^s—S^"~

" '

"''

_,s»~*~~~\ in

full

^x/^"

160140-

1

120100-

50 -i
4S4035

13. New business incorporations (thousands)

30-

25-

[Business Investment Commitments]
20. Contracts and ordeB for plant and equipment
in 1972 dollars (bil. dol.)t X

\

10. Contracts and orders for plant ami equipment
in current dollars (bil. dol.)

25 n
20

10'

27. Manufacturers' new orders, capital goods industries,
nondefensfc, in 1972 dollars (bil. cU.) X
i
|Ltltl|
24. Manufacturers' new orders, capital goods industries,

50t

t

9. Construction contracts, comrnefci3i and industrial tHiitdings j
sq. n or Tioor area; MUU moving avg.—o-termjj4

4030 J

1956

57

58

59

60

61

62

63

64

65

66

67

68

69

70

71

72

73

74

75

76

77

78

79

80 1981

1

This is a copyrighted series used by permission; it may not be reproduced without written permission from McGraw-Hill Information Systems Company, F.W. Dodge Division.
Current data for these series are shown on pages 65 and 66.

BCII NOVEMBER




1980

23

CYCLICAL INDICATORS
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued

Chart B4. Fixed Capital Investment—Continued
(Aug.) (Apr.)
P T

(Nov.)
P

(Dec.) (Nov.)
P
T

(Apr.) (Feb.)
P
T

(Mar.)
T

I Busfiess Investment!! Commitments-Con.

11. New capital appropriations, manufacturing, Q (bil, do).)

61. Business expenditures for new plant and equipment, Q
(ana rate, bil. dot.)

I Business Investment Expenditures

69, Machinery and equipment sab and business
construction expenditures (ana rate, bil. dof.)

76. Industrial production, business equipment
(index: 1967=100)

1986

57

58

59

60

61

62

63

64

65

66

67

68

69

70

71

72

73

74

75

76

77

78

79

SO

1981

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

24



NOVEMBER

1980

CYCLICAL INDICATORS
B

CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued

Chart B4. Fixed Capital Investment—Continued
(Aug.) (Apr.)
P
T

(Apr.) (Feb.)
P
T

(Dec.) (Nov.)
P
T

(Nov.)
P

(Mar.)
T

I Business Investment! Expenditures—Con.
Nonresidential fixed investment in 1972 dollars, Q (ann. rate, bil. dol.)

Producers' durable equipment Q

60-

J

40-

20 -J

[Residential Construction Commitments and Investment]
i

28. New private housing unite started, total (ann. rate, millions)

29. New building permits, private housing units (index: 19674100)

89. Residential fixed investment, total, in 1972 dollars, Q
(aim. rate, bil. dol)
_-». f

Z.

1956

57

58

59

A.

\r

v

7
60

61

62

63

64

65

66

67

70 -

m

50-

3068

69

70

71

72

73

74

75

76

77

78

79

80

1981

Current data for these series are shown on page 67.

KCII NOVEMBER



1980

25

CYCLICAL INDICATORS
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued

Chart B5. Inventories and Inventory Investment
(Aug.) (Apr.)

P

P

(Nov.)

T

P

(Mar.)

P

(Dec.) (Nov.)

(Apr,) (Feb.)

T

T

T

I Inventory In vestment]
30. Change in business inventories, 1972 doiars, 0 (ana rate, fai doi)

. nxn i

+30-

vvx/

\/

20 J

36. Net chaise in inventories on hand and nn nrfo; 197?
(am. rate, bil. do).; moving avg.—warn?) \m\

31. Change in book u*», tmltilf1*** ** ™* inventories

;

(ana rate, bil. dol.; MCD moving avg.—Werni)

+4-

+2+10"1-3-

1956 57

58

59

61

62

63

64

65

66

67

68

69

70

71

72

73

74

75

76

77

78

79

80 1981

1

This series Is a weighted 4-term moving average (with weights 1,2,2,1) placed on the terminal month of the span.
Current data for these series are shown on page 68.

26




NOVEMBER 1980

KCII

CYCLICAL INDICATORS
B

CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued

Chart B5. Inventories and Inventory Investment—Continued
(Aug.) (Apr.)

P

'T

(Dec.) (Nov.)
P
T

(Apr.) (Feb.)

T

P
/

T

(Nov.)

(Mar.)

P

T

"
1

'

I;

450-

| Inventories on Handjand on Order]

400-

350«

71. Book value, manufacturing and trade inventories,
current doto (bil. do).)

300250-

70. Manufacturing and trade inventories, 1972 dollars (Ni. dol.)

20090 T
853075706560-

|Lg,Lg,lg|

65. Book value of mahufadurefs' inventories
of finished goods (bil. dol.)

z_

45-

/

40 -

35*
30-

2520-

77. Ratio, deflated inventories to sates, manufacturing and trade

IJ-i
1.7 -

1.6-

^ .^

X

1.5-

220-|
200ISO160-

JZ;

140"
120100-

78. Stocks of materials and supplies on hand and on order,
manufacturing (bil. dot)
iLLelil
>

§0-

eo-

40 J

1956

57

58

59

60

61

62

63

64

65

66

67

68

69

70

71

72

73

74

75

76

77

78

79

80 1981

Current data for these series are shown on page 68.

BCII NOVEMBER 1980
LtflF



27

CYCLICAL INDICATORS
B

I

CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued

Chart B6. Prices, Costs, and Profits
(Aug.) (Apr.)

P

(Apr.) (Feb.)

T

P

(Dec.) (Nov.)

T

P

(Nov.)

(Mar.)

P

T

T

[Sensitive Commodity Prices]
92. Change in sensitive prices (percent; moving avg.^-term1) ,;

liil

, , /iflWl,£ UP

23. Industrial materials prices (index: 1967=100)

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

16. Corporate profits after taxes, current dollars. Q
(ana rate, b«L doL)

[Profts and Profit Margins |

18, Corporate profits after taxes, 1972 dollars, Q
film, rate hil don

80 Cornorate oroffe after taxes with IVA aid CCA.

1972 doll*r$, Q (mi rate, biL dot)

79. Corporate profits after taxes with JVA and CCA,
current dobs, Q (ana rate, bit, do!)

1956 97

58

59

60

61

62

63

64

65

66

67

68

69

70

71

72

73

74

75

76

77

78

79

80 1981

1

This series U a weighted 4-terrn 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 69.

28



NOVEMBER 1980

ItCII

CYCLICAL INDICATORS
B I

CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued

Chart B6. Prices, Costs, and Profits—Continued
(Aug.) (Apr.)
P
T

(Apr.) (Feb.)
P
T

(Nov.)
P

(Dec.) (Nov.)
P
T

(Mar.)
T

[Profits and Profit Margins—Con.

capital consumption adjustments to total corporate domestic income,
Q (percent)
•-- - - '

{

15 Prnfrh ^aftpr hvpct rwr Hnlhr nf «al« all m3niifaHnrin(j rnmnratinrK 0 Ynank^

?fi Ratifl nrirp tn unit lahnr mst. nonfarm husirtfKis sedor. Q (i

35. Net cash flow, corporate, in 1972 dollars,
(ann, rate, bil. dol.) |itLtl

34, Net cash flow, corporate, in current dollars, Q
(ann, rate, biLdql)

1956 57

58

59

60

61

62

63

64

65

66

67

68

69

70

71

72

73

74

75

76

77

78

79

80 1981

Current data for these series are shown on pages 69 and 70.

NOVEMBER




1980

29

CYCLICAL INDICATORS
B I

CYCLICAL INDICATORS BY ECONOMIC PROCESS-Continued

Chart B6. Prices, Costs, and Profits—Continued
(Aug.) (Apr.)

P

T

(Apr,) (Feb.)

P

(Dec) (Now.)

P

T

I

(Nov.)

(Mar.)

P

T

|Unit;Labor Costs and Labor Share I

m

63. Unit labor cost, private business sector, Q
(index: 1967=100) flgjgjg|

u
68. Ubor cost (curr^(k)liars) per unit of gross (kjmesti^
(1972doOais)( nonfinanciaJ cwpofatkxi$, Q (dollars)

/

6Z Labor cost per unit of output, manufacturing (index: 1967=100)
S I
S

64. Compensation of employees as a percent of national income, Q (percent)
|Lg,Lg,Lg

Current data for these series are shown on page 70.

30




NOVEMBER 1980

ItCII

CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued

Chart B7. Money and Credit
(Aug.) (Apr.)
P I

(Apr.) (Feb.)
P T

(Dec.) (Nov.)
P
T

(Nov.)
P

(Mar.)
T

85. Change in money supply Ml-B
(percent; MCD moving avg.-6-temi) : ^

|02. Change in money supply M2
(percent; MCD moving avg.—6-term)

104. Change in total liquid assets (percent; moving avg.—4-term1)

r

•;-=-=— -

- —

-

^

-IF^

105. Money supply-Ml-B-in 1972 dollars (UL dol.)

106. Money supply-MZ-in 1972 dollars (bil. dd)
LLL

107. Ratio, GNP to mone^sup^ly Ml-B, Q (ratio)

[Velocity of Money!
108. Ratio, personal income to monevjupplv M2. Mio).

1
This series is a weighted 4-term moving average (with weights 1,2,2,1) placed on the terminal month of the span.
Current data for these series are shown on page 71.

BCII NOVEMBER



1980

31

CYCLICAL INDICATORS
BJ

CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued

Chart B7. Money and Credit—Continued
ig.)(Apr.)
*
T

(Dee.) (Nov.)
P
T

(Apr.) (Fab.)
P
T

(Nov.)
P

(Mar.)
T

[Crecjjt Flows!

in mortgage debt (ana rate, bil. dol.)

LLL

112. Change in bank loans to businesses (am rate, bit, dof.; \ '.
MCD moving av&—6-term)

113. Change in consumer installment debt (ann. rate, bil. dol.)
Lit

110. Total private borrowing, Q (ana rate, bil. dd)
LLL

1956

57

58

59

SO

61

62

S3

64

65

67

63

69

70

71

72

73

74

75

76

77

78

79

80 1081

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

32



NOVEMBER 1980

1*01

CYCLICAL INDICATORS
B I

CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued

Chart B7. Money and Credit—Continued
(Aug.) (Apr.)
P
T

(Apr.) (Feb.)
P
T

(Dec.) (Nov.)
P
T

(Nov.)
P

(Mar.)
T

[Credit Difficulties I
14. Current liabilities of business failures (mil. dol.inverted scale; MCD moving avg.—6-term)

39. Delinquency rate, 30 days and over, consumer installment loans
(percent-inverted scale)
|L,LJ.|

93. Free reserves (bil. dol—inverted scale)

MMJ

94. Member bank borrowing from
the Federal Reserve (bit. dol.)

17

m

m

80

61

62

6

87

68

69

70

71

72

73

74

75

76

77

78

79

SO 1981

Current data for these series are shown on page 72.

BCII

NOVEMBER 1980




33

B

CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued

Chart B7. Money and Credit—Continued
(Aug.) (Apr.)
P T

Apr,} (Feb.)
P
T

(Dec.) (Nov.)

(Now.)
P

(Mar.)
T

I Interest Rates I

119. Federal funds rate (percent)

UAL

114. Treasury bill rate
(percent) |c,Lg,Lg]

116. Corporate bond yields (percent)

115. Treasury bond jMis (p&tent)

118. Secondary market yields on FHA mortgages (percent)
|Lg,Lg,lg

117. Municipal bond yields (percent)

Current data for these certei are shown on pages 72 and 73.

34



NOVEMBER 1980

ItCII

CYCLICAL INDICATORS
B

CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued

^—^

Chart B7. Money and Credit—Continued
(Aug.) (Apr.)

P

(Apr.) (Feb.)

T

P

I

(Dec.) (Nov.)

P

(Nov.)

(Mar.)

P

T

T

llnteijest Rates-Con.||

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

109. Average prime rate charged by banks (percent)

220 <

[Outstanding Debt)
66. Consumer installment debt (bif. dol.)

J 10-

72. Commerdal and industrial loans outstanding,
weekly reporting large commerdaJ
—
banks (ML dol.)

95. Ratio, consumer installment debt to personal income (percent)

Current data for these series are shown on page 73.

ItCII NOVEMBER




1980

35

CYCLICAL INDICATORS
DIFFUSION INDEXES AND RATES OF CHANGE

Chart Cl. Diffusion Indexes
(Aug.) (Apr.)
P
T

(Dee.) (Nov.)
P
T

F I

(Nov.)
P

(Mar.)
T

950. Twelve leading Motor component (6-mo. span—, Inm span---)

100-

o-

951. Four roughly coincident indicator componerts (6-mo. span—*, 1-mfc span—)

J

wiriu

' I"

!!! li!

LL

100*

iTTTiiT

ilSil»J!!t'!/L!i!V i

j y;;

I

i iBil!

§0-

952. Six lagging indicator components; (6-m span—, 1-mo. ip^n—-)

100-

50-

961 Average workweek, production workers, manufadurinf--20 industries (9-mo, span*—, 1-mo. span—)

100-

fM

962. Initial claims, State unemployment insurance—51 areas (percent declining 9-mo. span^, 1 mo. span—)

100-

§0-

963. Employees on private nonagricuttural payrolls—172 industries (6-mo. span——, 1-mo, span—)
100-1

50-

1996

57

98

S9

60

61

62

63

64

65

66

67

68

69

70

71

72

73

74

75

76

77

78

79

80

1981

NOVEMBER

1980

Current data for these series are shown on page 74.

36




ltd*

CYCLICAL INDICATORS
C I

DIFFUSION INDEXES AND RATES OF CHANGE—Continued

Chart Cl. Diffusion Indexes— Continued
(Aug.) (Apr.)

P

(Apr.) (Feb.)

I

P

T

(Dec.) (Nov.)
P
T

(Nov.)
P

(Mar.)
T

964. New orders, durable goods industries-35 indiistries (9-mo. span—, 1-mo. span—)

50-

965. Newly approved capital appropriations, deflated—1? industries (4-Q moving avg**-**, 1-Q span —-)

966. Industrial production-24 industries (6^no. span—, 1-mo. span—)

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

968. Stock prices, 500 common stocks—53-82 industries (9-mo. span—, 1-mo. span

)

960. Net profits, manufacturing—about 700 companies1 (4-Q span)

'This is a copyrighted series used by permission; it may not be reproduced without written permission from Dun & Brad street, Inc.
Current data for these series are shown on page 75.

IICII NOVEMBER



1980

37

CYCLICAL INDICATORS
C

I

DIFFUSION INDEXES AND RATES OF CHANGE—Continued

Chart Cl. Diffusion Indexes—Continued
(Dee.) (Now.)
P
T

(Nov.)
P

(Mar.)
T

(Nov.)
P

]£.} (NOW.)

?

T

(Mar.'i
T

Percent rising

Actual
*-*
Anticipated*-*-*

970. 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

(c) Early anticipations
971. New orders, manufacturing (4-Q span)1

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

^

976. Selling prices, manufacturing (4-Q span)1

977. Selling prices, wholesale trade (4-Q span)1

- ' -- 1 " f-^t*
•-'
/ 'y

978. Selling prices, retail trade (4-Q span)1

973. Net sales, manufacturing and trade (4-Q span)1

70-

1969 70

71

1

73

73

74

75

76

77

78

79 1980

1969 7©

71

72

This It a copyrighted series used by permission; It may not be reproduced without written permission from Dun & Bradstreet, Inc.
surveys of about 1,400 business executives.
Current data for these series are shown on page 76.

38



73

74

79

76

77

78

79 1980

Dun & Bradstreet diffusion Indexes are based on

NOVEMBER 1980

ltd*

C

I

DIFFUSION INDEXES AND RATES OF CHANGE—Continued

Chart C3. Rates of Change
(Aug.) (Apr.)

P

(Apr.) (Feb.)

T

P

T

(Dee.) (Nov.)

P

(Nov.)

(Mar.)

P

T

T

Percent changes at annual rate
910c. Composite index of twelve leading indicators
(series 1, 3, 8, 12, 19, 20, 29, 32, 36, 92, 104,

920c. Composite index of four roughly coincident indicators
_
(seriesL41f 47, 51, 57)

930c. Composite index of six lagging indicators
(series 62, 70 72, 91, 95, 109)

50c. GNP in constant (1972) dollars (1-0 span)

47c, Index of industrial production

48c. Employee-hours in nonagricultural establishments

Sic. Personal income less transfer
payments in 1972 dollars

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 NOVEMBER




1980

39

OTHER IMPORTANT ECONOMIC MEASURES
A

NATIONAL INCOME AND PRODUCT

Chart Al. GNP and Personal Income
(Aug.) (Apr.)
P
T

(Apr.) (Feb.)
P
T

(Mar,)
T

(Dec.) (Nov.)
P
T

2400-

200. GNP in current dollars, Q (ana rate, hi dol)

223. Personal income in current dollars
(ana rate, bil. dof.)

224. Disposable personal income in current
dollars, Q (ana rate, bit dol)

personal income in 1972
Alters, Q (ann rate;; Ml

217. Per capita GNP in 1972 dollars (ann. rate, thoos. dol.)

227. Per capita disposable oersonal income in
dollars, Q (ana rate, ttwus. dol.)

19S6 57

§8

59

60

61

62

63

64

65

66

67

68

69

70

71

72

73

74

75

76

77

78

79

80 1981

Current data for these series are shown on pages 63 and 80.

40




NOVEMBER 1980

ItCII

OTHER IMPORTANT ECONOMIC MEASURES
NATIONAL INCOME AND PRODUCT—Continued

Chart A2. Personal Consumption Expenditures
(Aug.) (Apr.)

P

(Apr.) (Feb.)

P

T

(Dec.) (Nov.)

T

P

(Nov.)

(Mar.)

T

T

Annual rate, billion dollars (current)

Personal consumption expenditures—

21U}urable_ goods

Annual rate, billion dollars (1972)

238. Nondurable goods, Q

233. Durable foods. 0

1956

57

58

59

60

61

62

63

64

65

66

67

68

69

70

71

72

73

74

75

76

77

78

79

80 1981

Current data for these series are shown on pages 80 and 81.

ltd)

NOVEMBER




1980

41

IMPORTANT ECONOMIC MEASURES
NATIONAL INCOME AND PRODUCT—Continued

Chart A3. Gross Private Domestic Investment
(Aug.) (Apr.)
f»
T

(Apr.) (Feb.)
F T

(Dec.) (Now.)
P
T

P

(Mar.)
I

Annual rate, billion dollars (current)

Gross private domestic investment-

Annual rate, billion dollars (1972)

30. Change in business inventories, Q

Current data for these series are shown on page 81.

42




NOVEMBER

1980

OTHER IMPORTANT ECONOMIC MEASURES
A I

NATIONAL INCOME AND PRODUCT—Continued

Chart A4. Government Purchases of Goods and Services
Aug.) (Apr.)
P T

(Apr.) (Feb.)
P
T

(Dec.) (Nov.)
P
T

(Nov.)
P

(Mar.)
T

Annual rate, billion dollars (current)
Government purchases of goods and services—

266. State and local
governments, Q

7

262. Federal Government, Q

Annual rate, billion dollars (1972)

257."SGieISTlocal governments, Q

X

263. Federal Government, Q

1956

97

98

59

60

61

63

63

64

69

66

67

68

69

70

71

72

73

74

75

76

77

78

79

80

1981

Current data for these series are shown on page 81.

ItCII NOVEMBER



1980

43

OTHER IMPORTANT ECONOMIC MEASURES
|A

I

NATIONAL INCOME AND PRODUCT—Continued

Chart A5. Foreign Trade
(Aug.) (Apr.)
P T

(Apr.) (Feb.)
P
T

(Dec.) (Nov.)
P
T

(Nov.)

(Mar.)

P

T

Annual rate, billion dollars (current)

s:£
^

25Z Exports of goods and services, Q

320180240200-

A7

Imports of goods and services, Q

250. Net exports of goods and services, Q

Annual rate, billion dollar (1972)

256, Exports of goods and services, Q

M<-

255. Net exports of goods and services, Q

Current data for these series are shown on page 82.

44



NOVEMBER 1980

KCII

OTHER IMPORTANT ECONOMIC MEASURES
A I

NATIONAL INCOME AND PRODUCT—Continued

Chart A6. National Income and Its Components
(Aug.) (Apr.)
P T

(Apr.) (Feb.)
P
T

(Dec.) (Nov.)
P
T

(Nov.)
P

(Mar.)
T

Annual rate, billion dollars (current)
2400-

220. National income, 0

280, Compensation of employees, 0

286. Corporate profits with inventory valuation and capital consumption adjustments, Q

282. Proprietors^ income with inventory valuation
and capital corisOrnptron adjustments,!}

288. Net interest, 0

284. 'Rental income of persons with capital
consumption adjustment, Q

Current data for these series are shown on page 82.

BCD

NOVEMBER 1980




45

OTHER IMPORTANT ECONOMIC MEASURES
IA I

NATIONAL INCOME AND PRODUCT—Continued

Chart A7. Saving
(Aug.) (Apr.)
P
T

(Apr.) (Feb.)
P
T

(Nov.)
P

(Dec.) (Nov.)
P
T

(Mar.)
T

__ *^!*'-^55 ?!f!D? $y$? afSL

298. Government surplus or deficit, Q

1956 97 58
39 60
61 62 63 64
Current data for these series are shown on pages 82 and 83.

46



65

66

67

68

69

70

71

73

73

74

75

76

77

78

79

80

1981

NOVEMBER 1980

OTHER IMPORTANT ECONOMIC MEASURES
A

NATIONAL INCOME AND PRODUCT—Continued

Chart A8. Shares of GNP and National Income
(Aug.) (Apr.)
P T

(Apr.) (Feb.)
P
T

(Dec) (Nov.)
P
T

(Wow.)
P

(Mar,)
T

I Percent of

235. Personal consumption expenditures, Q
'^ ,~—r , .^r«*s=s^r

-_-w~s-.. -^T-.- „-*, ^- ^— JJT .—.--;:.

268. State and local government purchases
of goods and services, Q
265. Federal Government purchases of goods and services, Q

248. Nonresidential fixed investment, Q
249. Residential fixed investment,
N

247. Change in business inventories, Q
251. Net exports of goods and services, Q

|Percent of National income |
64. Compensation of employees, Q

283. Proprietors' income with inventory valuation
and capital consumption adjustments, Q

7

287. Corporate profits with inventory valuation and
tital consumption adjustments, Q

285, Rental income of persons with capital consumption adjustment, Q ^

Current data for these series are shown on page 83.

BCD NOVEMBER 1980




47

IMPORTANT ECONOMIC MEASURES
B

PRICES, WAGES, AND PRODUCTIVITY

Chart Bl. Price Movements
(Dec.) (Nov.)

(Now,)
P

(Dec.) (Nov.)
P
T

(Mar.)
T

[Index: 1972=1001-

;

(Nov.)
P

14® •
130
12®

^^

Percent changes at annual rate

310c. Implicit price deflator,
6NP (1-Q span)

m

310. Implicit price deflatorr-ON£r-Q-

(Mar.)
T

+16+10-

-*•§«

hnsiness

31k, Fixed-weighted prirp

product (1-Q span)

311. Fixed-weighted price index,
gross business product, Q

333c. Capital equipment

10

334c Finbhed consumer goods

1969 70

71

72

73

74

75

7$

77

78

79 1980

1969 70

71

72

73

74

75

76

77

78

79 1980

Current data for these series are shown on pages 84, 85, and 86.




NOVEMBER 1980

ItCII

IMPORTANT ECONOMIC MEASURES
PRICES, WAGES, AND PRODUCTIVITY-Continued
Chart Bl. Price Movements—Continued
Aug.) (Apr.)

P

(Apr.) (Feb.)

T

P

(Nov.)

(Dec.) (Nov.)

T

P

(Mar.)

T

T

Percent changes at annual rate
320c. All items (6-month span)

Chart B2. Wages and Productivity

345. Average hourly compensation, alLempI
nonfarm business sector, Q (current

120-

340. Average hourly earnings of production workers,
private nonfarm economy (current dollars)1

80-

346. Real average hourly compensation, all employees, _
nonfarm business sector, Q

341. Real average hourly earnings of oroduction workers.

1956

57

58

59

60

61

62

63

64

65

66

67

68

69

70

71

72

73

74

75

7®

77

78

79

80 1981

1

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.

NOVEMBER 1980




49

OTHER IMPORTANT ECONOMIC MEASURES
B

PRICES, WAGES, AND PRODUCTIVITY—Continued

^^^MM

Chart B2. Wages and Productivity-—Continued
(Aug.) (Apr.)
P T

(Apr.) (Feb.)
P
T

(Dec.) (Nov.)

F

(Nov.)
P

T

(Mar.)
T

[Wages-Con.]

341c. Real earnings -\4W

i! ii y
6-month spans (ami, rate) ;' j; tf

I

Change in average hourly compensation, all employees,
noofarm business sector, Q345c, Current-dollar condensation

. 1-quarter spans (ann, rate) \
i\

•

-

v

V

_

_

'X.^

i.1

4-quarter spans

346c. Real compensation
1-quarter spam (ann, rate)

Negotiated wage and benefit decisions^ all industries—
348. First year average changes, Q (ann. rate)—
349. Average changes over life of
contract Q (ana rate)
I Productivity j
370, Output per hour, all persons,
private business sector, Q

Index: 1967 ==100

358. Output per hour, all persons, nonfarm business sector, Q

370c. Change in output per hour, private business sector, Q
1-quarter spans (ann, rate)

v

*^
4-quarter spans V

1
Adjusted for overtime (In manufacturing only) and Interindustry employment shifts and seasonally.
* One-month percent changes have been multiplied by a constant (12) to make
them comparable to the annuallzed 6-month changes. See the current data table for actual 1-month percent changes.
Current data for these series are shown on pages 87 and 88.

50




NOVEMBER 1980

BCII

IIVIPORTAIMT ECONOJVlie
C

I

LABOR FORCE, EMPLOYMENT, AND UNEMPLOYMENT

Chart Cl. Civilian Labor Force and Major Components
(Aug.) (Apr.)
P
T

(Apr.) (Feb.)
P
T

(Dec.) (Nov.)
P
T

(Now.)
P

(Mar.)
T

441. Civilian labor force, total (millions)

Labor force participation rates (percent)—
451. Males 20 years and over

75-

453. Both sexes 16-19 years of age

452. Females 20 years and over
Number unemployed (millions)—

44t Hafes W^wrs and over
445. ema
and over

447. Number unemployed, full-time
worterc (millions)

443, Number employed part-time for economic

1956

57

58

59

60

61

62

63

64

65

66

years

67

68

69

70

71

72

73

74

75

76

77

78

79

8©

1981

Current data for these series are shown on page 89.

NOVEMBER




1980

51

OTHER IMPORTANT ECONOMIC MEASURES
GOVERNMENT ACTIVITIES

Chart Dl. Receipts and Expenditures
(Aug.) (Apr.)

P

(Apr.) (Feb.)

T

P

(Mar.)

(Dec.) (Nov.)

T

P

T

T

Annual rate, billion dollars (current)

300-

50Z Federal Government expenditures, Q
X
501 Federal Government receipts, Q

500, Federal Government surplus or deficit, Q

Train
511.

State and local government expenditures, Q

510. State and local government surplus or deficit, Q

uses §y

ss

§s

g©

©a

sg

Current data for these series are shown on page 90.

52



NOVEMBER

1980

!!€!»

OTHER IMPORTANT ECONOMIC
GOVERNMENT ACTIVITIES-Continued
Chart D2. Defense Indicators
(Aug.) (Apr.)
P
T

(Apr.) (Feb.)
P
T

(Dec.) (Nov.)
P
T

Nov.)
P

(Mar.)
T

1816-

[Advance Measures of Defense Activity]
517, Defense Department gross obligations incurred
(bil, dol.; MCD moving avg.-6-term)

jjffi 00

1412«

sJ

8-

525. Defense Department m litary prime contract awards
(bil. doi.;
—6-term)

7-

3J

70 «
SO-

Defense Department gross unpaid obligations outstanding (bil. dol.)

*f

5040»

30-

87-

65-

548. Manufacturers' new orders, defense products
(bil. dol.; MCD moving avg.-6-term) ,

I*

1J
1956

SJ

58

59

6©

61

62

Current data for these series are shown on page 90.

BCII

NOVEMBER 1980




53

OTHER IMPORTANT ECONOMIC MEASURES
GOVERNMENT ACTIVITIES—Continued
Chart D2. Defense Indicators—Continued
(Aug.)(Apr.)
P

T

|lntefi|iediate and final Measures of Defense Activity |

S*~
S

x~^~-x^
X
^^

S'
^ ~^^

^_—i•*-

~ L J _ ^>^^

-*-^~"*'

UfiL

>^^>i^^^^^^^^^^^^^^^^»iB^^_W^^BB.V^H>M^HJl^V>

—^

559. Manufacturers' inventories, defense products (bil. dol.)

561. Manufacturers' unfilled orders, defense products (bil. dol.)

580. Defense Department net outlays, military functions and mHitarv
assistance (by. dol^ HCD moving avj.-6*rm)

/LI

A>/^^

588. Manufacturers'shipments, defense products
(by. do).; MCD moving avg.-4-term)

1956

57

58

59

Digitized for


60

61

62

63

Current data
FRASER for these series are shown on page 91.

6^

o5

66

67

68

69

?J

71

72

77

7B

79

80 1981

90 •
80'

OTHER IMPORTANT ECONOMIC MEASURES
GOVERNMENT ACTIVITIES—Continued
Chart D2. Defense Indicators—Continued

[Intermediate and Final Measures of Defense Activity-Con.|
570. Employment in defense products industries (millions)

Defense Department personnel (millions)—
577. Military, active duty

578. Civilian, direct hire employment

" "1

{National Defense Purchases!
564. Federal Government purchases of goods and services for national
defense, Q (ann. rate, bil. do!.)

565. National defense purchases as a percent of GNP, Q (percent)

R "•

1956

57

58

59

60

61

62

63

64

65

66

67

68

63

70

71

72

73

74

75

76

77

78

79

80

1981

Current data for these series are shown on page 91.


http://fraser.stlouisfed.org/
NOVEMBER 1980
Federal Reserve Bank of St. Louis

ItCII

55

IMPORTANT
E I

U.S. INTERNATIONAL TRANSACTIONS

Chart El. Merchandise Trade
(Aug.) (Apr.)
P

T

(Apr,) (Fell)
P

(Dec.) (Now.)

T

P

T

(Nov.)
P

(Mar.)
T

UK TxpWs, ei«audiag
(bil. do!.; MCD moving avg.~5-term)

604. Exports of agricultural products,
total (bil. doi.) -

\

614. Imports of petroleum and petroleurfi

616. Imports of automobiles and

Current data for these series are shown on page 92.

56



NOVEMBER

1980

IICII

OTHER IMPORTANT ECONOMIC MEASURES
U.S. INTERNATIONAL TRANSACTIONS—Continued

Chart E2. Goods and Services Movements
(Aug.) (Apr.)
P
T

(Apr.) (Feb.)
P
T

(Nov.)
P

(Dec.) (Nov.)
P
T

(Mar.)
T

Annual rate, billion dollars

Excess of receipts
Excess of payments

Goods and sen/ices-

667. Balance on goods and services, 0

160-

622. Merchandise trade balance, Q
618. Exports, Q-

^620. Imports, Q

20 «

Investment income—

15-

651. Income on

652. Income on foreign investments in the U.S., 0
1956 57
58
59
SO
61
62
63
64
NOTE: Annual totals are shown for the period prior to 1960.
Current data for these series are shown on page 93.

KCII NOVEMBER



1980

65

66

67

69

70

71

72

74

7i

76

57

IMPORTANT
F I

INTERNATIONAL COMPARISONS

Chart Fl. Industrial Production
(Aug.) (Apr.)

P

T

(Die.) (Kow.)

(Apr.XFfib.

P

(felov.)

I

1967= 1
Industrial production—

721. OECD European countries

71

72

77

79

80 1981

Currant data for these series are shown on page 94.

58



NOVEMBER

1980

OTHER IMPORTANT ECONOMIC MEASURES
F I

INTERNATIONAL COMPARISONS—Continued

Chart F3. Stock Prices

Chart F2. Consumer Prices
(Dee.) (Nov.)
P
T

(Nov.)
P

Percent changes at annual rate

(Dec.) (Nov.)
P
T

6-month spans

(Mar.)
T

Index: 1967=100

Stock prices-

Consumer prices—
+20 <

—--1

(Nov.)
P

19. United States

+2'

+20-

745. West Germany

Current data for these series are shown on pages 95 and 96.

ltd)

NOVEMBER 1980




59

CYCLICAL INDICATORS
COMPOSITE INDEXES AND THEIR COMPONENTS

^H COMPOSITE INDEXES
910. Index of
12 lead ing indicators {series
1,3,8,12,19,
20, 29, 32, 36,
92, 104, 106)

920, Index of
4 roughly
coincident indicators {series
41,47,51,57)

0967-100)

Year
and
month

{1967-100)

930. Index of 6
lagging indicators (series
62, 70, 72,
91,95,109)

{1967-100)

Leading Indicator Subgroups
91 3. 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)

916. Pirof itability {series
l
19, 26, 80)

917. Money
and financial
flows (series
104,106, 110)

(1967-100}

940. Ratio,
coincident
index to
lagging index 1

{1967-100)

{1967-100)

1978

January . .
February
March

139.1
140.3
140,3

134.0
135.0
136.9

134.1
135.9
137.2

97.6
97.2
98.3

115.4
115.9
115.0

104.8
105.9
106.3

90.9
89.4
90.4

148.5
148.0
147.4

99.9
99.3
99.8

April
May
June

141.5
141.8
142.5

139.3
139.5
140.1

137.8
140.0
142,0

99.0
98.0
97.8

114.9
115.0
116.1

106,9
107,2
106,9

92.1
93.8
94.1

147.5
147.8
148.5

101.1

July
August
September

141.2
142.0
142.9

140.5
141.4
141.4

143.5
144.5
146.4

97.4
97.3
98.5

115.5
115.4
116,0

105.2
105.8
105.8

94.2
95,4
95.4

148.9
149,1
149.9

97.9
97.9
96.6

October
November
December

[H>143.6
142,8
143.0

143.0
144.3
145.5

148.1
152.7
155.2

98,7
98.8

B>117.2
116.1
115.7

106,1
106.2
106.7

94.9
94.1
93.5

150,6
H>151.1
150.2

96.6
94.5
93,8

142.6
142.3
143,2

144.8
144.9
D146.6

157.4
158.5
158.4

98.5
98.4
98.0

113.9
113.9
115.5

107.4
108.3
i>108.8

93.2
92.2
92.2

148.6
145.6
144.5

92.0
91.4
92.6

HO. 3
141.4
141.6

144.1
145.6
145.0

161.8
162.5
163.6

94.6
97.3
96.7

113.6
113.3
113.9

107.8
107.3
106.6

92,3
91.7
91.8

146.1
146.9
148.4

89.1
89.6
88.6

141.2
140.1
140.1

145.4
145.0
144.9

164.8
166.4
170.6

96.4
96.0
96.4

113.6
112.9
114.0

106.1
105,7
104.6

91.7
92.0
91.8

148.6
148.3
146.2

88.2
87.1
84,9

137.8
135.6
135.4

145.1
145.0
145.3

175.9
179.1
178.0

96.6
96.1
96.3

112.7
112.0
112.7

103.3
102.3
102.3

90.8
90.3
90.2

143.9
140.4
H38.3

82.5
81.0
81.6

January
February
March

134,9
134,3
131.3

145.9
145.2
143.1

178.7
181.0
190.4

96.3
96.3
94.5

111.9
110.3
108.0

102.7
102.3
101.6

89.9
89.8
88.4

H37.2
H38.4
H35.8

81.6
30,2
75.2

April
May
June

125.7
122.7
123.9

140.4
137.4
136.1

i)196.3
183.8
168.2

90.3
88.3
89.6

104.5
103.3
104,8

99.9
98.2
97.1

88.0
88.5

H31.3
H27.0
H29.4

71.5
74,8
80.9

July
August
September .

H28.4
H31.1
135.1

H36..1
H36.0
137.8

r!63.6
H61.3
164.0

92.0
92.8
93.8

r!06.5
r!07.4
H09.9

r98.4
r99.6
HOI. 6

H33.3
H36.7
H37.7

r83.2
r84.3
r84.0

October
November ....
December , . .

2

9

M71.8

p94.9

p!07.7

P103.4

P138.2

pSl.l

1)99.1

99.6
98.7

1979

January
February ....
March
'« April . .
May
June
July
August
September

1

October . . .
November
December
1980

136.3

139.3

r89.5
r90.2
r90.7
(NA)

NOTE: Series are seasonally adjusted except those series that appear to contain no seasonal movement. Unadjusted series are indicated by (§>, Current high values are indicated by[R); for
series that move counter to movements in general business activity, current low values are indicated by JR). Series numbers are for identification only and do not reflect series relationships or
order. Complete titles and sources are shown at the back of the book. The "r" indicates revised; "p", preliminary; "e", estimated; "a", anticipated; and "NA", not available.
Graphs of these series are shown on pages 10 and 11.
x

Series 916 reached
Exeludes series 12
Exeludes series 57
""Excludes series 70
2

9

60



its
and
for
and

high value (97.2) in August 1977; series 940 reached its high value (106.6) in March 1977.
36 for which data are not yet available.
which data are not yet available.
95 for which data are not yet available.

NOVEMBER 1980

CYCLICAL INDICATORS
CYCLICAL INDICATORS BY ECONOMIC PROCESS

MAJOR ECONOMIC
PROCESS

MM

Minor Economic
Process

EMPLOYMENT AND UNEMPLOYMENT

L, L, L

Timing Class. . .

1. Average
workweek of
production
workers,
manufacturing

Year
and
month

L, L, L

L,C, L

2. Accession
21. Average
weekly overtime rate, manufachours, produc- turing
tion workers,
manufacturing

L,C,L

5. Average
weekly initial
claims, State
unemployment
insurance1

(Hours)

ployees)

L, L, L

U Lg, U

3. Layoff rate,
manufacturing

4. Quit rate,
manufacturing

(Per 100 em-

(Per 100 em(Hours)

(Thous.)

Comprehensive
Employment

Job Vacancies

Marginal Employment Adjustments

ployees)

U Lg, U

60. Ratio, helpwanted advertising to persons
unemployed

46. Index of
help-wanted
advertising
in newspapers

(Ratio)

(1967=100)

(Per 100 em-

ployees)

L, Lg, U

U,C,C

48, Employeehours in nonagricultural
establishments
(Ann. rate,
bil. hours)

1978

3.4
3.7
3.6

4.1
3.9
4.0

338
364
335

1.0
1.0
1.0

1.9
1.9
2.0

0.652
0.680
0.682

138
139
141

159.30
160.83
162.59

40.4
40.4

D3.8
3.5
3.5

4.2
4.0
4.0

334
330
341

1.0
1.0
0.9

2.1
2.0
2.1

0,718
0.700
0.741

146
144
147

164.21
164.02
165.04

July
August
September

40.5
40.4
40.5

3.6
3.5
3.6

4.0
4.1
4.2

362
345
328

0.9
0.9
E>0.8

2.1
2.1
2.1

0.712
0.753
0.758

149
150
152

165.27
165.40
165.66

October . .M
November
December

40.5
40.6
40.6

3.6
3.7
3.7

4.3
4.3
|H)4.4

[H>323
334
334

0.9
0.9
1.0

2.2
2.2
2.2

H>0.828
0.815
0.821

161
161
165

166.30
167.90
168.20

January
February
March

40.6
40.6
40.6

3.7
3.7
3.7

4.2
4.1
4.0

344
334
347

0.9
0.9
0.9

2.2
E>2.2
2.1

0.812
0.800
0.790

161
158
156

168.43
168.86
170.32

April
May
June

39.3
40.2
40.1

2.9
3.4
3.3

4.0
4.0
4.0

434
350
375

1.1
1.0
1.2

2.1
2.0
2.0

0.776
0.777
0.782

155
154
153

167.60
169.45
170.19

July
August
September

40.1
40.1
40.1

3.3
3.3
3.2

3.9
3.9
3.9

395
390
387

1.1
1.4
1.2

1.9
2.0
1.9

0.781
0.753
0.790

155
155
159

170.37
170.26
170.49

40.1
40.1
40.2

3.2
3.3
3.2

4.1
4.0
3.9

395
409
407

1.2
1.3
1.2

2.0
2.0
1.9

0.812
0.778
0.778

E>167
159

170.50
170.73
171.47

January
February
March

40.3
40.1
39.8

3.2
3.0
3.1

3.9
3.9
3.6

404
375
440

1.3
1.3
1.5

1.9
1.9
1.9

0.714
0.713
0.670

154
151
145

i>172.24
172.09
171.57

April
May
June

39.8
39.3
39.1

3.0
2.6
2.4

3.0
3.0
3.3

569
635
617

2.9
3.5
2.9

1.5
1.4
1.4

0.500
0.409
0.428

122
112
115

170.49
169.27
168.42

July
August
September

39.0
39.4
39.5

2.5
2.7
2.7

3.4

rl.9

3.8

536
502
501

1.7

r3.6

1.5

1.3
1.3
1.3

0.428
0.434
0.464

118
117
122

167.63
r 168. 44
r!69.01

p39.6

p2.8

p3.9

p439

pi. 4

pi. 3

pO.472

pi 27

p!69.54

January
February
March

39.7
40.0
40.5

April
May
June

B)40.9

1979

October
November
December

.158

1980

October
November
December

. .

NOTE: Series are seasonally adjusted except those series that appear to contain no seasonal movement. Unadjusted series are indicated by ©. Current high values are indicated by(H);for
series that move counter to movements in general business activity, current low values are indicated by[H>. Series numbers are for identification only and do not reflect series relationships or
order. Complete titles and sources are shown at the back of the book. The "r" indicates revised; "p", preliminary; "e", estimated; "a", anticipated; and "N A", not available.

Graphs of these series are shown on pages 12, 16 and 17.
l
Data exclude Puerto Rico which is included in figures published by the source agency.

NOVEMBER




1980

61

CYCLICAL INDICATORS
B

I

CYCLICAL INDICATORS BY ECONOMIC PROCESS—Con.

MAJOR ECONOMIC
PROCESS

^H EMPLOYMENT AND UNEMPLOYMENT-Con.

Minor Economic
Process

Comprehensive Unemployment

Comprehensive Employment-Con.

Timing Class

U, C, C

L, C, U

U, Lg, U

L, Lg, U

L, Lg, U

L, Lg, U

Lg, Lg, Lg

Lg, Lg, Lg

42. Persons
engaged in nonagricultural
activities, labor
farce 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

37. Number of
persons unemployed, civilian
labor force

43. Unemployment rate,
total

45. Average
weekly insured unemployment rate
State programs1

9 1 . Average
duration of
unemployment

44. Unemployment rate,
persons unemployed 15
weeks and over

(Thous.)

Year
and
month

C, C,C

(Thous.)

(Thous.)

(Percent)

(Thous.)

(Percent)

(Percent)

(Weeks)

(Percent)

1978

January
February
March

89,425
89,6$3
89,813

84,582
84,892
85,396

24,871
24,909
25,085

58,03
58.03
58.09

6,305
6,088
6,153

6.4
6.1
6.2

3.5
3.6
3.5

13.0
12,6
12.4

1.6
1.6
1.5

April
May
June

90,468
90,818
91,141

86,104
86,368
86,746

25,460
25,481
25,599

58.42
58.56
58.76

6,056
6,126
5,902

6,1
6.1
5.9

3.2
3.2
3.2

12.4
12.0
12.1

1.5
1.4
1.3

July
August
September

91,046
91,457
91,598

86,924
87,231
87,419

25,657
25,719
25,801

58.60
"58.76
58.78

6,228
5,929
5,971

6.2
5.9
5.9

3.3
3.3
3.2

11.9
11.5
11.5

1.3
1.2
1.3

October
November ....
December

92,024
92,488
92,456

87,790
88,242
88,567

25,965
26 141
26,267

58.95
59 08
59 06

0)5,788
5 882
5,984

5 7
5 8
5 9

3.0
3 0
3.0

11.8

11 1
10 6

1 3
1 2
1 2

January
February
March

92,897
93 189
93,303

88,858
89,109
89,455

26,363
26,377
26,537

59 19
59 33
59 31

5 904
5 883
5 882

5 8
5 7
5 7

3 0
3 0
3 0

April
May
June

93 039
93 249
93 409

89,386
89,708
89 , 909

26,473
26 522
26 557

59 05

5 944
*% Qfn
5 ft°d

5 8

0

93 917
93 63g

90,054
90,222
90 283

26 582
26 528
26 554

59 37

5 QflQ

fwSR 7

RQ 1Q

fjJscq /lo

6
5

on /MI
qn t:cp

OC

CQ

6

1979

July
August
September
October
November
December ....

.

Q4 lAfl

94 180
94 223
94 553

00 K7ft

CCA

?f\ f\r\A_
oc con

19 11

59 13

07

59 27
no oo

1 °d
QQO

C

Q

R 7

5
5

Q
0

1 91
fi Ddd
6 DR7

C Q

6 st/IOC
tdo
6 on 7

O
6 .£.
6 r\

C Q
C Q

Q

ftiS 9 .0
It!/ t P
0

Q

0

Q

11 2

n

-3

n ft

1 2
1 ')
1 ^

n fl
in Q
in K

1 ?
1 o

1 1

fuYin i

2 Q
Q
2 .y

in 7
in 7

fBM .u
|n/ f n
i i
i i

Q
2 .y

in R
in fi
in ^

1 9
1 1
1 9

1 .3
1.2
1.3

3.7
4 3
4 6

10,5
10.7
11.0
11 .3
10 5
11 7

11 6
12 6
i3 i

2 . C.

13 3

7 9

3.1
31i

IM/iU. I

1980

Qi no.i
fuSQli » 1 flfi
m/y loo
01 ,1AA
y j i4*t

January
February
March

fu\Q/L K9K
[H/y*r,D(Cb

26,476

CQ nn
by. 00

93,912
93,609
93,346

90,951
90,468
90,047

26,121
25,745
25,422

58.63
58,47
58.12

6,438
7,265
8,154
8,006

6.2

April . .
May
June
July
August
September

93,739
93,826
93,765

89,867
r90,142
r90,365

25,163
r25,312
r25 470

58.29
58.23

8,207
8,019

7 8

58 ?R

7 P.97

7 ^

4 5
4 3
/i
4 .4

October
November
December

93,851

p90,622

p25,611

58.19

8,005

7 g

o4 1

QA R3£

QA 9Qft
y^j^yd

IQSoc 71 c
O£

CO*3

CO ,0£0
OC A ~] C.

CQ

OA

CQ

OC

7.0
7.8
7.7
7.6

3

n
.1

3.1
3.3

1 6
1 6
•) 7
1 8

2 1
0

NOTE: Series are seasonally adjusted except those series that appear to contain no seasonal movement. Unadjusted series are indicated by ©. Current high values are indicated byH); 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 shown at the back of the book. The "r" indicates revised; "p", preliminary; "e", estimated; "a", anticipated; and "NA", not available.
Graphs of these series are shown on pages 14, 15, 17. and 18.
l
Data exclude Puerto Rico which is included in figures published by the source agency.

62



NOVEMBER 1980

IICII

CYCLICAL INDICATORS
B I

CYCLICAL INDICATORS BY ECONOMIC PROCESS —Con.

MAJOR ECONOMIC
PROCESS

M PRODUCTION AND INCOME

Minor Economic
Process
C,C,C

Timing Class

Year
and
month

Industrial Production

Comprehensive Output and income

50. Gross national product
in 1972 dollars

C,C,C

Personal income
223. Current
dollars

(Ann. rate,
bil.dol.)

(Ann. rate,
bil.dol.)

52. Constant
(1972) dollars

C,C,C

C,C,C

51. Personal
income less
transfer payments in 1972
dollars

53. Wages and
salaries in
mining, mfg.,
and construction in 1972
dollars
(Ann. rate,
bil.dol.)

(Ann. rate,
bil.dol.}

(Ann. rate,
bil.dol.)

C,C,C

C,C,C

C, L, I

47. Index of
industrial
production,
total

73. Index of
industrial
production,
durable manufactures

74. Index of
industrial
production,
nondurable
manufactures

(1967=100)

(1967=100)

(1967-100)

C,C,C

49. Value of
goods output
in 1972 dollars

(Ann. rate,
bil.doL)

1978

January
February
March

1, 367^8

1,618.5
1,631.3
1,654.4

1,117.0
1,118.1
1,127.7

967.4
969.4
978.9

233.3
236.0
240.2

140.0
140.3
142.1

132,1
132,3
135.0

152.4
152.9
153,8

621 !4

April
May
June

1 ,395^2

1,676,5
1,687.3
1,704,2

1,135.1
1,133.9
1,137.6

987.5
986.7
991.1

244.0
243.2
244.2

144.4
144.8
146.1

137.6
137.9
139.0

155.5
155.8
157.0

637. * 2

July
August .
September

1,407 .'3

1,730.0
1,741.3
1,756.1

1,149.5
1,151.7
1,154.6

998.5
1,000.3
1,004.1

245.3
244.5
245.1

147.1
148.0
148.6

141.1
141.8
142.9

157.2
158.4
159.3

641 ,*8

October . . ,
November
December

1, 426^6

1,781.0
1,801.4
1,826.8

1,163.3
1,172.0
1,181.6

1,013.0
1,021.4
1,030.5

246.3
248,7
250.7

149.7
150.6
151.8

144.6
145.5
146.8

159.5
160.4
161.7

657,*3

January
February
March

l,436!e

1,834.3
1,851.4
1,872.1

1,172.8
1,172.5
1,177.4

1,021.9
1,022.6
1,027.0

249.4
250.3
E>251.6

152.0
152.5
[H>153.5

147.0
147.2
i>148.6

161.6
162.9
164.0

658 ! 6

April
May
June

1, 422^3

1,880.7
1,891.6
1,905.1

1,174.0
1,172.7
1,172.4

1,022.7
1,021.5
1,021.8

248.7
248.2
246.9

151.1
152.7
153.0

144.5
147.6
147.6

162.6
163.6
163.7

647^3

July
August
September

1,433^3

1,933.2
1,946.5
1,960.1

1,180.9
1,179.7
1,177.2

1,023.0
1,021.4
1,019.5

246.1
243.1
242.6

153.0
152.1
152.7

147.2
144.4
145.9

164.8
165.2
165.4

651 .'3

October
November
December

1,44CL3

1,981.2
2,005.5
2,028.3

1,181.4
1,188.1
G>1, 191.0

1,023.5
1,030.6
]H>1,033.2

241.9
241,0
241.6

152.7
152.3
152.5

146.0
145.2
144.8

164.8
165.0
165.3

655 !l

(B>1 ,444^7

2,046.5
2,055.7
2,070.0

1,190.5
1,182.1
1,174.1

1,030.5
1,024.8
1,017.5

239.9
239.1
236.5

152.7
152.6
152.1

144.7
144.1

i>659;7

K3.4

E>166.0
165.9
164.7

1 ,408 ! 6

2,072.0
2,079.0
2,090.4

1,166.7
1,164.1
1,164.6

1,010.1
1,005.5
1,005.1

231.8
227.7
224.7

148.3
144.0
141.5

138.4
133.3
129.9

161.6
158.0
155.3

636 !9

r1,41K7

r2,124.4
r2, 143.0
r2,166.5

rl,174.4
rl,175.5
rl,173.6

rl,002.4
rl,005.2
rl,002.9

223.6
r225.0
r226.6

H40.4
H41.8
H43.7

r!28.3
H29.3
H31.5

H54.7
H56.4
H59.3

r63i!3

pi, 179. 3

pi ,009. 3

p227.6

p!46.0

p!34.6

P160.9

1979

1980

January
February
March
April
May
June
July
August
September . ,
October
November
December

E>p2,189.9

NOTE: Series are seasonally adjusted except those series that appear to contain no seasonal movement. Unadjusted series are indicated by (g). Current high values are indicated by(B);for
series that move counter to movements in general business activity, current low values are indicated by (R). Series numbers are for identification only and do not reflect series relationships or
order. Complete titles and sources are shown at the back of the book. The "r" indicates revised; "p", preliminary; "e", estimated; "a", anticipated; and "N A", not available.
Graphs of these series are shown on pages 14. 19, 20, and 40.

NOVEMBER




1980

63

CYCLICAL INDICATORS
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Con.

H

MAJOR ECONOMIC
PROCESS . . . .
Minor Economic
Process
. ..

PRODUCTION AND
INCOME-Con.

Q CONSUMPTION, TRADE, ORDERS, AND DELIVERIES
|

Capacity Utilization
L,C,U

Timing Class

83. Rate of
capacity
utilization,
manufacturing
(BEA)

Year
and
month

(Percent)

82. Rate of
capacity
utilization,
manufacturing
(FRB)
(Percent)

Orders and Deliveries
L,C,U

84. Rate of
capacity
utilization,
materials

(Percent)

L, L, L

L, I I
,

7. Constant
(1972) dollars

8. New orders
for consumer
goods and
materials in
1972 dollars

(Bil.dol.)

(Bil.dol.)

Value of manufacturers' new
orders, durable goods industries
6. Current
dollars
(Bil.dol.)

1, L, L

L, L, L

L, Lg, U

25. Change in
96. Manufacunfilled orders, turers' unfilled
durable goods orders, durable
industries
goods industries

(Bil.dol.}

1. I, L

32. Vendor
performance,
companies reporting slower
deliveries©

(Bit. dol.)

(Percent
reporting)

1978

82^6

82^6

62,03
65.05
67.04

38.31
39.81
40.78

35.04
36.20
36.47

2.23
2.73
4.06

186.93
189.66
193.72

55
64
67

83^9

85^6

69.20
68.88
68.54

41.71
41.24
40.70

37.98
37.02
36.84

3.45
4.00
2.79

197.17
201.16
203.95

64
64
66

85,*2

86,*4

67.39
71.29
72.71

39.76
41,64
42.25

36.50
37.61
37.34

1.94
3.15
3.95

205.89
209.04
212.99

56
65
66

86.'i

January
February
March

88.' 2

76.42
77.21
76.54

44.10
44.14
43.36

3P..06
38.06
38.86

6.32
5.71
3.80

219.31
225.02
228.82

68
66
68

ED8814

78.68
80.43
JRJ81.65

44.16
44.68
E>45.04

H>38.94
38.43
38.63

5.91

B>86".9

E>7.10
5.89

234.72
241.82
247.71

69
77
D78

*84

April
May
June

*84

July
August
September . . .

'83

October
November
December

*84

1979

January
February
March

„. .
ED 84

8EL9

April
May
Jung

87!5

75.93
77.04
76.03

41.36
41.75
40.98

36,74
36.88
36.43

4.73
1.52
3.23

252.43
253.96
257.19

76
76
70

85^3

87 .*2

74.58
74.76
77.65

39.82
39.81
40.91

35.95
35.44
35.93

0.71
0.40
3.45

257.90
258.30
261 , 74

60
55
51

84^4

86 !a

76.52
75.90
77.20

39.71
39.15
39.43

35.60
34.34
34.19

0.98
2.15
3.01

262.72
264.87
2,67.88

50
47
49

83.4

85*. 5

81.47
81.02
77,55

40.61
39.93
38.28

36.10
36.00
33.52

3.52
1.86
1.62

271.40
273.26
274.88

48
42
45

78^7

72.42
67.33
66.45

35.62
33.12
r32.38

30.35
28.95
r29.06

0.21

77.9

-2.12
-2.60

275.10
272.98
270.38

40
32
28

r74.8

r74.23
r72.23
r79.37

r35.89
r34.71
r38.01

r31.80
r31.80
r33.26

rO.17
r2.81

272.06
r272.23
r275.04

32
34
39

p80.38

P38.08

p35.58

pi. 21

(H>p276.25

44

*83

July
August
September
October .......
November
December ....

,
*82

'si

1980

January
February
March
April
May
June
July
. .
August
September
October
November
December

'so
p76

r75.6
(NA)

1.68

NOTE: Series are seasonally adjusted except those series that appear to contain no seasonal movement. Unadjusted series are indicated by @. Current high values are indicated byE); for
series that move counter to movements in general business activity, current low values are indicated by (H). Series numbers are for identification only and do not reflect series relationships or
order. Complete titles and sources are shown at the back of the book. The "r" indicates revised; "p", preliminary; "e", estimated; "a", anticipated; and "NA", not available.
Graphs of these series are shown on pages 12, 20, and 21.

64



NOVEMBER 1980

CYCLICAL INDICATORS
B

CYCLICAL INDICATORS BY ECONOMIC PROCESS -Con.

MAJOR ECONOMIC
PROCESS
Minor Economic
Process

C,C,C

Manufacturing and trade sales
Year
and
month

56. Current
dollars
(Mil.dol.)

57. Constant
(1972) dollars
(Mil.dol.)

C,L,C

75. Index of industrial produc-

C, L,U

(1967=100)

U, L, U

Sales of retail stores
54. Current
dollars

goods

(Mil.dol.)

FIXED CAPITAL
INVESTMENT
Formation of Business Enterprises

Consumption and trade
C,C,C

Timing Class

a

Q CONSUMPTION, TRADE, ORDERS, AND DELIVERIES-Con,
|

59. Constant
(1972) dollars
(Mil.dol.)

L,C,C

55. Personal
consumption
expenditures,
automobiles
(Ann. rate,
bil. dol.)

L, L,L

L,L,L

12. Index of
58. Index of
net business
consumer
l
sentiment ® formation

(IstQ
1966=100)

(1967=100)

L, L,L

13. Number of
new business
incorporations

(Number)

1978

January
February
March

232,748
238,854
241,915

148,346
151,393
153,449

143.2
145.2
147.5

62,220
63,040
64,100

42,881
43,149
43,665

62!3

83.7
84.3
78.8

133.5
133.1
130.5

36,414
39,434
37,847

April
May
June

250,279
251,562
252,883

156,423
156,450
156,468

149.5
149,0
149.3

65,305
65,861
66,392

44,095
44,143
44,232

70.*2

81.6
82.9
80.0

131.9
132.1
132.7

39,585
39,059
39,860

253,690
259,732
260,457

155,750
158,585
157,533

149.8
150.6
150.8

66,794
67,469
68,006

44,322
44,563
44,623

68,*9

82.4
78.4
80.4

133.3
132.5
133.3

40,152
41,007
41,553

266,934
269,692
272,424

159,972
160,370
161,050

151.2
151.3
151.5

69,164
69,871
70,832

45,117
45,312
45,669

70.'6

79.3
75.0
66.1

D134.8
133.4
133.8

41,437
41,423
42,179

January
February
March

274,091
274,844
283,741

160,460
159,177
1)164,058

151.3
151.8
{H>153.4

71,293
71,266
72,045

45,381
44,850
44,944

E>74!6

72.1
73.9
68.4

131 .3
132.1
132.5

42,410
42,302
42,761

April
May
June

276,406
286,413
283,772

157,285
161,807
158,316

149.3
152.2
152.1

71,606
72,292
72,093

44,229
44,405
43,932

6&\2

66.0
68.1
65.8

130.9
130.5
130.9

43,034
43,895
43,044

July
August
September

289,994
293,167
296,776

159,751
160,273
160,068

151.2
148.7
150.0

73,121
74,871
76,666

44,316
45,130
|H>45,771

67^9

60.4
64.5
66.7

131.8
130.3
132.5

44,655
42,911
44,687

October
November
December

298,619
299,153
302,386

159,757
158,205
158,718

150.0
149.1
148.6

75,583
76,421
77,150

44,803
44,954
44,881

66 .*8

62.1
63.3
61.0

131.9
131.4
133.9

1)46,478
44,811
43,579

January
February
March

312,730
310,571
305,657

161,600
160,189
154,500

147.9
148.4
148.6

79,464
77,993
76,534

45,695
44,365
42,972

7K5

67.0
66.9
56.5

131.0
129.8
125.8

44,447
44,583
42,615

April
May
June

295,277
292,478
294,203

150,706
147,103
147,805

145.3
142.4
142.1

75,011
74,587
76,001

41,859
41,460
42,013

52^5

52.7
51.7
58.7

120.5
117.8
114.8

42,461
41,974
39,746

r304,154
r308,019
|H>p317,576

152,027
r 148, 342
p!55,312

78,287
H42.0
r!42.8
r78,770
H43.8 Dr79,987

43,086
r42,903
r42,911

r58.8

62.3
67.3
73.7

115.3
rl!7.7
e!21.6

44,058
43,266

P145.5

p42,506

July
August
September

....

October
December
1979

1980

July
August
September
October
November
December

(NA)

(NA)

p79>868

75.0

(NA)

(NA)

NOTE: Series are seasonally adjusted except those series that appear to contain no seasonal movement. Unadjusted series are indicated by (0). Current high values are indicated by[H); for
series that move counter to movements in general business activity, current low values are indicated by[H>. Series numbers are for identification only and do not reflect series relationships or
order. Complete titles and sources are shown at the back of the book. The "r" indicates revised; "p", preliminary; "e", estimated; "a", anticipated; and "NA", not available.
Graphs of these series are shown on pages 12, 14, 22, and 23.
l
Series 58 reached its high value (89.1) in 2d quarter 1977.

NOVEMBER 1980




65

CYCLICAL INDICATORS
CYCLICAL INDICATORS BY ECONOMIC PROCESS-Con.

MAJOR ECONOMIC
PROCESS

I
H FIXED CAPITAL INVESTMENT-Con.

Minor Economic
Process

Business Investment Commitments
L, L,L

Timing Class

L, L,L

Contracts and orders for plant
and equipment
Year
and
month

10. Current
dollars
(Bil.dol.)

20. Constant
(1972) dollars
(Bil.dol.}

L, L, L

Value of manufacturers' new orders,
capital goods industries, nondefense
24. Current
dollars
(Bil.dol.)

L,C,U

U, Lg, U

Ci Lg( Lg

9. Construction contracts for commercial and industrial buildings, floor
space1

11. Newly
approved capital
appropriations,
1,000 manufacturing corporations

97. Backlog of
capital appropriations, manufacturing

(Bil.dol.)

(Bil.dol.}

L, L, L

27. Constant
(1972) dollars
(Bil.dol.)

Square feet

(Millions)

Square meters2

(Millions)

1978

January
February
March

20.79
21.89
20.13

13.26
13.90
12.84

16.07
16.99
16.84

10.30
10.84
10.79

83.03
67.86
71.94

7.71
6.30
6.68

17.'l6

19.00
21.18
19.83

12.06
13.31
12.42

17.24
17.68
17.66

10.98
11.20
11.13

76.71
88.41
83.27

7.13
8.21
7.74

15J2

July
August
September

22.08
22.92
23.18

13.62
13.99
14.07

18.05
18.57
19.69

11.27
11.48
12.09

74.82
79.21
86.38

6.95
7.36
8.02

ie!i7

October
November
December

25.94
24.87
22.34

15.56
14.93
13.24

21.12
20.92
18.76

12.86
12.74
11.28

84.55
91.08
81.48

7.85
8.46
7.57

18!?5

26.16
25.48
0)28.10

15.40
15.17
18)16.99

21.23
22.48
23.60

12.72
13.56
18)14.60

88.51
(H>105.49
102.77

April
May
June

25.36
22.67
24.66

14.76
13.14
14.32

20.60
21.13
21.70

12.24
12.34
12.78

93.59
87.09
84.08

8.69
8,09
7.81

21 [26

July
August
September

25.82
23.83
24.52

14.55
13.38
13.69

21.23
21.08
21.58

12.20
12.00
12.21

88.48
83.85
92.17

8.22
7.79
8.56

22! 69

October
November
December

r24.14
25.69
27.42

H3.52
14.65
15.31

21.07
21.75
22.28

12.01
12.73
12.81

93.15
84.13
80.79

8,65
7.82
7.51

23! 28

27.35
24.56
26.27

15.01
13.47
14.07

[H)23.86
21.48
22.59

13.34
12.02
12.35

104.43
85.46
82.84

9.70
7.94
7.70

B29150

24.20
21.18
22.92

12.97
11.53
12,61

22.16
19.59
19.95

12.02
10.79
11.26

72.90
62.72
71.19

6.77
5,83
6.61

r25*.86

24.86
23.96
r24.28

13.70
H2.57
r!3.08

21.61
19.37
r21.27

12.24
10.50
rll.73

72.28
65.99
66.40

6.71
6.13
6.17

p24*.93

P23.99

p!2.52

p20.80

pll.09

71.38

6.63

April
May
June

... .

....

59^73

59! 98

60!83

63^43

1979

January
February
March

8.22

B>9.80

2i!ei

9.55

67! 63

69^95

73^45

76!66

1980

January
February
March

....

April .
May
June ...
July
August
September
October
November
December

.. .

84*. 09

r87*.94

[fl)p89;84

, .

NOTE: Series are seasonally adjusted except those series that appear to contain no seasonal movement. Unadjusted seriesare indicated by @. Current high values are indicated by[R); for
series that move counter to movements in general business activity, current low values are indicated by [H). Series numbers are for identification only and do not reflect series relationships or
order. Complete titles and sources are shown at the back of the book. The "r" indicates revised; "p", preliminary; "e". estimated; "a", anticipated; and "NA", not available.

Graphs of these series are shown on pages 12, 23, and 24.
'This is a copyrighted series used by permission; it may not be reproduced without
written permission from McGraw-Hill Information Systems Company, F.W. Dodge Division. Converted to metric units by the Bureau
of Economic Analysis.

66



NOVEMBER 1980

CYCLICAL INDICATORS
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Con.

MAJOR ECONOMIC
PROCESS

Qj FIXED CAPITAL INVESTMENT-Con.

Minor Economic
Process

Residential Construction
Commitments and Investment

Business Investment Expenditures
C, Lg, Lg

59. Machinery
and equipment
sales and business
construction
expenditures

(Ann. rate,
bil.dol.)

Year
and
month

C, Lg, Lg

61. Business
expenditures
for new plant
and equipment,
total

Timing Class

(Ann. rate,
bil.dol.)

C, Lg, U

C, Lg, C

Lg, Lg, Lg

C, Lg, C

76. Index of
Nonresidential fixed investment in 1972 dollars
industrial production, business
87. Structures
88. Producers'
86. Total
equipment
durable equip.
(1967=100)

(Ann. rate,
bil. dol.)

(Ann. rate,
bil.dol.)

(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,
bif. dol.)

1978

January .
February
March

144^25

205.29
209.48
213.55

152.0
153.6
156.5

133J

40*2

93*6

1,779
1,762
2,028

140.5
140.2
145.3

59*4

April
May
June

150."?6

222.93
221.05
228.54

158.0
158.4
160.1

14CL3

43*9

96*4

E>2,182
2,018
2,092

157.4
142.6
[H>160.2

E>60'9

July
August
September

155.'ii

230.65
236.47
245.60

161 .7
163.4
163.8

14l!e

45 .'i

96*5

2,090
1,983
2,014

144,3
136.6
141.4

eo.'z

163.*96

245.93
249.54
252.58

164.8
165.0
166.8

145! 5

46. *5

98*9

2,001
2,111
2,052

143.9
145.0
146.8

60*6

January
February
March

165^94

256.93
256.86
268.78

168.2
169.3
171.0

147^2

45*8

101 !3

1,727
1,469
1,800

119.1
120.4
136.7

57*7

April
May
June

173"48

261.20
268.02
265.92

168.7
171.2
171.2

146^9

47*9

99*6

1,750
1,801
1,910

125.0
133,1
132.4

56.*7

July
August
September

179^33

274.41
278.61
280.10

171.3
171.6
173.4

15CK7

48^7

H>10l!9

1,764
1,788
1,874

126.3
131.0
136.9

56^5

October
November
December

T86.*95

285.29
279.46
287.54

172.3
172.6
174.1

150*5

50. 'l

100.4

1,710
1,522
1,548

119.4
104.0
100.7

55 ,*8

191.'36

297.92
E>303.20
300.05

174.9
176.0
!>176.1

G)5CL3

100*9

1,419
1,330
1,041

102.7

E>151.2

Bl93!a9

291.99
293,49
292.17

174.2
171.9
169.8

145!3

49J

96.3

1,030
906
1,223

63.7
66.6
87.1

July
August
September

a!91*.24

T293.84
r285.47
P302.73

r!70.1
r!70.5
rl70.5

rl43.'s

r46.*8

r96.7

October
November
December

al93J7

....

October
November
December

....

1979

1980

January
February
March

....

April
May
June

(NA)

p!71.7

94.3
78.2

1,265
rl,429
rl,545

109.9
126.3

pi, 569

51 .'7

4CL7

107.7

99.8

r42.2

NOTE: Series are seasonally adjusted except those series that appear to contain no seasonal movement. Unadjusted series are indicated by (§). Current high values are indicated by|H); for
series that move counter to movements in general business activity, current low values are indicated by (H). Series numbers are for identification only and do not reflect series relationships or
order. Complete titles and sources are shown at the back of the book. The "r" indicates revised; "p", preliminary; "e", estimated; "a", anticipated; and "NA", not available.
Graphs of these series are shown on pages 13, 24, and 25.

NOVEMBER 1980




67

CYCLICAL INDICATORS
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Con.

MAJOR ECONOMIC
PROCESS

Mj INVENTORIES AND INVENTORY INVESTMENT

Minor Economic
Process . . . . . . . .
Timing Class

Year
and
month

Inventory Investment

1,1,1

1,1,1

Inventories on Hand and on Order

UI L
,

36. Change in inventories on
30. Change in
hand and on order in 1972
business inven
dollars
toriesin 1972
dollars
Monthly
Smoothed
data
data1

31. Change
in book value
of mfg. and
trade inventories, total

I L, I
,

38. Change
in stocks of
materials and
supplies on
hand and on
order, mfg.

Lg, Lg, Lg

Lg, Lg, Lg

Lg, Lg, Lg

Manufacturing and trade
inventories
71. Current
dollars

65. Mfrs.'
inventories of
finished
70. Constant goods, book
(1972) dollars value

i, Lg, Lg

Lg, Lg, Lg

77. Ratio,
constantdollar inventories to
sales, mfg.
and trade

78. Stocks of
materials and
supplies on
hand and on
order, mfg.

{Ann. rate,
bil.dol.)

(Ann. rate,
bil.dol.)

{Ann. rate,
bil.dol.)

(Ann. rate,
bil.dol.)

January . . ,
February
March

ie!s

21.07
13.75
[H>35.22

16.33
18.36
20.35

42.9
36.3
61.1

0.48
1.41
1,81

341.01
344.04
349.13

238.18
238.92
241.23

59.76
59.78
60.24

1.61
1.58
1.57

144.38
145.80
147.60

April
May
June

15ie

28.69
18.05
14.51

24,62
H)26.60
23.87

61.2
32.0
32.1

1.84
2.00
2.32

354.23
356.90
359.58

242.94
243.93
244.65

60.71
61.03
61.45

1.55
1,56
1.56

149.44
151.45
153.76

July
August
September

1IL2

14.94
18.77
14.06

18.12
15.95
16.00

37.0
42.9
38.8

1.95
1.64
2.94

362.66
366.23
369.47

245.54
246.77
247.13

61.85
62.65
62,74

1.58
1.56
1.57

155.71
157.35
160.29

October , .
November . . .
December

12.0

14.46
18.32
19.09

15.84
15.69
16.45

42.0
54.3
37.8

2.19
3.19
2.84

372.97
377.50
380.64

247,88
249.09
249.59

62.75
63.64
63.88

1.55
1.55
1.55

162.48
165.67
168. B2

28.12
14.56
13.64

19.57
21.22
19,68

56.8
47.2
39.8

D5.09

12.3

3.70
2.98

385.38
389.31
392.63

250.98
251.38
252.24

64.70
65.51
65.88

1.56
1.58
1.54

173.60
177,30
180.29

28,62
-1,31
20.72

18.86
16.30
14.83

68.1
43.7
57.3

4.33
0.52
2.59

398.31
401.94
406.72

253.80
254.71
256.18

67.08
67.22
68.08

1.61
1,57
1.62

184.62
185.14
187.73

24.47

15.32
15.26

44.9
15.2

1.24
2.21
1.74

413.58
417.32
418.59

258.92
IB) 259. 42
257.63

68,62
68.95
69.87

1.62
1.62
1.61

188.97
191.18
192.93

{Bil.dol.)

(Bil.dol.)

(Bil.dol.)

(Bil.dol.)

{Bil.dol.}

(Ratio)

1978

1979

January
February . . .
March
April
May
June

fi>18.'l

[R>82.3

July . .
Autjust
September

7.'i

October
November
December

1*4

-4.33
-8.72
-13.45

-2.88
-9.54
-10.12

53.4
37.8
10.2

2.24
2.52
1.51

423.04
426.19
427.04

258.18
258.13
257.32

69.75
69.94
70.53

1.62
1.63
1.62

195.16
197.69
199.20

January
February
March

6."3

-9.97
-16.31
-0.77

-9.77
-11.98
-11.13

57.3
42.1
48.0

2.48
2.54
1.21

431.82
435.32
439.32

257.47
256.82
256,88

71.78
72.76
73.94

1.S9
1.60
1.66

201.67
204.^2
(H}205.43

April
May .
Juno

z.'e

-7.17
-7.18
r-12.44

74.4

-27.42
r-21.23

-0.36
-2.85
-2.32

445.53
445.80
447.03

258.65
257.83
257.50

75.76
76.21
76.61

101.75

14.8

r3.58
r-2.57
p-9.12

r-15.44
r-10.88
p-4.72

29.7

1.37

r29.3
p30.1

-1.50
pi. 29

449.51
r451.95
|H>p454.46

257.90
r257.74
P257.01

77.00
B>77.19
76.76

(NA)

(NA)

2.46

-21.16

8.90

1980

July
August
September
October
November
December

r-6.*2

1.10

(NA)

(NA)

3.3

(NA)

(NA)

(NA)

1.72
1.74
1.70

rl . 74
pi. 65
(MA)

200.07
202,22
199.90
201.27
199,76
P201.05
(NA)

NOTE: Series are seasonally adjusted except those series that appear to contain no seasonal movement. Unadjusted series are indicated by @. Current high values are indicated by(H); for
series that move counter to movements in general business activity, current low values are indicated by [R). Series numbers are for identification only and do not reflect series relationships or
order. Complete titles and sources are shown at the back of the book. The "r" indicates revised; "p". preliminary; "e", estimated; "a", anticipated; and "NA", not available.
Graphs of these series are shown on pages 13, 15, 26, and 27.
^Series is a weighted 4-term moving average (with weights 1,2,2,1) placed at the terminal month of the span.




NOVEMBER 1980

KCIt

CYCLICAL INDICATORS
CYCLICAL INDICATORS BY ECONOMIC PROCESS-Con.

MAJOR ECONOMIC
PROCESS

BH PRICES, COSTS, AND PROFITS

Minor Economic
Process

U, L, L

L.L.L

Timing Class

92. Change in sensitive prices
Year
and
month

Stock
Prices

Sensitive Commodity Prices

Monthly
data 2

Smoothed
data3

(Percent)

(Percent)

23. Index of
industrial
materials
prices©
(1967=100)

L,L, L

19. Index of
stock prices,
500 common
stocks ®
(1941-43=10)

Profits and Profit Margins
L,L, L

L, L,L

Corporate profits after taxes
16. Current
dollars
(Ann. rate,
bil.dol.)

18. Constant
(1972) dollars
(Ann. rate,
bil.dol.)

L,C,L

L.C.L

Corporate profits after taxes
with IVA and CCA 1
79. Current
dollars
(Ann. rate,
bil.dol.)

80. Constant
(1972) dollars 2
(Ann. rate,
bil.dol.)

Ul, I

22. Ratio,
profits (after
taxes) to total
corporate
domestic income
(Percent)

1978

January
February
March

0.74
0.27
0.94

1.47
1.36
0.90

219.7
219.9
219.8

90.25
88.98
88.82

106\7

71^2

7(X4

47^4

April
May
June

1.36
0.82
1.82

0.75
0.95
1.19

220.3
217.8
222.1

92.71
97.41
97.66

122^4

79^9

84^7

55^7

1CL7

July
August
. .
September

2.45
0.03
1.37

1.51
1.56
1.36

224.7
232.6
239.1

97,19
103.92
103.86

124^6

79^7

87^7

56\7

l6.*7

October
November
December

1,32
1.60
1.22

1.09
1.17
1.40

249.4
254.8
251,8

100.58
94.71
96.11

132^3

83^2

i>89!7

56\9

ll!6

1.77
2.92
3.04

1.45
1.75
2.27

258.3
273.5
288.5

99.71
98.23
100.11

142!6

87^3

87.6

54.4

11. *4

-0.35
2.85
2.93

2.22
1.86
1.83

294.5
293.8
293.9

102.07
99.73
101.73

139^3

83^7

87.9

53^4

ii!6

July
August
September ...

1.63
1.09
3.47

2.14
2.18
1.97

297.3
298.1
297.3

102.71
107.36
108.60

14o\3

86\9

86^8

5K5

1K2

October
November
December

2.63
1.92
2.33

2.23
2.54
2.48

307.7
304.0
309.6

104.47
103.66
107.78

146.9

84.7

80.3

46.9

11.0

2.43

316.2
E)322.5
316.9

110.87
115.34
104.69

[H>158!6

72^6

41^4

B>ii!5

301.9
278.5
267.5

102.97
107.69
114.55

127J

69.9

75^2

4K7

9^3

277.6
292.1
298.3

119.83
123.50
126.51

p!37*.2

p73'.7

p73*.l

p39'.9

pib'b

300.8
"304. 2

B>130.22
5
134.99

9^9

1979

January
February
March
April
May
June

1980

January
February
March

-1.05

2.35

April
May
June

-0.65
-0.22
rO.09

-0.10
-0.45

July
August
September ...

r2.54

3.43
2.99

October
November
December

1.65
3.00
2.90

E)2.74

1.11

0.27
1.12

rl.91
2.46

EDssls

NOTE: Series are seasonally adjusted except those series that appear to contain no seasonal movement. Unadjusted series are indicated by ©. Current high values are indicated by [H); for
series that move counter to movements in general business activity, current low values are indicated by[R). Series numbers are for identification only and do not reflect series relationships or
order. Complete titles and sources are shown at the back of the book. The "r" indicates revised; "p", preliminary; "e", estimated; "a", anticipated; and "NA", not available.
X
Graphs of these series are shown on pages 13, 28, and 29.
IVA, inventory valuation adjustment; CCA, capital consumption adjustment. 2Series
reaching highs before 1978: series 92 (monthly), February 1977 (4.95); series 80, 3d quarter 1977 (60.3). 3See footnote 1 on
page 68. ^Average for November 4, 11, and 18. 5Average for November 5, 12, and 19.

ltd)

NOVEMBER 1980




69

CYCLICAL INDICATORS
B

CYCLICAL INDICATORS BY ECONOMIC PROCESS —Con.

MAJOR ECONOMIC
PROCESS
Minor Economic
Process

0 PRICES, COSTS, AND PROFITS-Con.
|
Profits and Profit Margins-Con.

Year
and
month

U, L, L

L, L, L

81. Ratio,
profits (after
taxes) with IVA
and CCA to
corp. domestic
income1 8

15. Prof its (after
taxes) per dollar
of soles, all
manufacturing
corporations

(Percent)

Timing Class .

(Cents)

Unit Labor Costs and Labor Share

Cash Flows

L, L, L

L,L, L

L, L, L

26. Ratio, price
Net cash flow, corporate
to unit labor
cost, nonfarm
business sector 2 34. Current
35. Constant
(1972) dollars
dollars
(1967=100)

(Ann. rate,
bil.dol.)

(Ann. rate,
bil.dol.)

Lg, Lg, Lg

63. Index of
unit labor cost,
private business
sector

(1967-100)

Lg, Lg, Lg

Lg, Lg, Lg

Lg, Lg, Lg

(Dollars)

62. Index of
labor cost per
unit of output,
manufacturing

64. Compensation of employees os a percent
of national
income

{1967--=100)

68. Labor cost
per unit of real
gross domestic
product; nonfinancial
corporations

(Percent)

1978

January ....
February
March

e'.z

5^6

94^7

mil

niU

189!4

1.002

161.5
163.9
164.4

76L7

April
May
June

i\\

Sii

9s!s

195.*5

123!s

192J

1,009

163.1
163.2
163.3

75^6

July
. .
Auqust
September . . .

Y.2

5^5

96,'6

197^3

122!s

195^2

1.024

163.6
163.1
163.9

75*4

October
November . , ,
December

Y.z

$.1

96.'6

205!;

125^8

19916

1.042

164.9
166.6
167.8

7S!6

January
February ....
March

e!e

ei.'g

94*.7

2ie!b

129^8

205^9

1.075

170.0
171.4
171.5

75.'5

April
May
June

6.*6

5.*6

94^4

217.'3

127.*4

21l!?

1.104

174.9
173.0
173.7

75^9

July . . . .
August
September . .

6.Q

sis

94*2

22B.3

isois

217*6

1.127

174.6
175.8
176.3

75^8

October
November
December . , .

5^5

5*,4

94*. 6

227,7

127.5

221.1

1.152

177.8
179.2
181.5

76.0

January
February
March

4.*6

5*6

93^6

D238.'8

EDI 31 .'3

227 '.5

1.182

182.8
185.1
187.1

76*4

April
May
June

s!i

p4!4

93.3

207! 8

ni!?

235.6

1.220

190.6
194.6
198.0

p4*9

(NA)

r93.*9

p218.*9

pni.'s

[^r240.*4

[H)pl.234

1979

1980

July
August . . .
September
October
November ...
December

rl99.B
[H>r200.0
r!99.9

[H>7?;4

p?6.*9

p!99.5

NOTE: Series are seasonally adjusted except those series that appear to contain no seasonal movement. Unadjusted series are indicated by @. Current high values are indicated by(H); for
series that move counter to movements in general business activity, current low values are indicated by [H). Series numbers are for identification only and do not reflect sorios relationships or
order. Complete titles and sources are shown at the back of the book. The "r" indicates revised; "p", preliminary; "e", estimated; "a", anticipated; and "NA", not available.
1
Graphs of these series are shown on pages 15, 29, and 30.
IVA, inventory valuation adjustment; CCA, capital consumption adjustment.
"Scries 81 reached its high value (8.1) in 3d quarter 1977; series 26 reached its high value (98.1) in 3d quarter 197S.

70



NOVEMBER 1980

ItCII

CYCLICAL INDICATORS
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Con.

MAJOR ECONOMIC
PROCESS

Q MONEY ANDCREDIT

Minor Economic
Process
L,L,L

Tinning Class

Year
and
month

85. Change in
money supply
(Ml-B)

L,L,L

UC.U

102. Change
in money
supply (M2) 1

(Percent)

(Percent)

L,L, L

104. Change in total liquid assets

Monthly
data

Smoothed
data 2

(Percent)

Credit Flows

Velocity of Money

Money

(Percent)

105. Money
supply(Ml-B)
in 1972
dollars

L, L, L

106. Money
supply (M2)
in 1972
dollars

(Bil.dol.)

(Bil.dol.)

C,C,C

107. Ratio,
gross national
product to
money supply
(Ml-B)
(Ratio)

C, Lg, C

L, L,L

33. Net change
108. Ratio,
personal income in mortgage debt
to money supply held by financial
institutions and
(M2)
life insurance
companies
(Ann. rate,
hil.dol.}
(Rato)

1978

January
February
March

1.11
0.00
0.48

0.66
0.41
0.64

0.83
0.82
1.08

0.99
0.93
0.89

E>224.3
223.0
222.3

E>869.1
867.6
866.3

5.974

1.243
1.247
1.257

82.43
85.03
89.80

April
May
June

1.12
0.88
0.70

0.65
0.66
0.62

1 .06

0.95

1.11
0.79

1 .04

865.6
864.5
862.3

6.110

1.04

223.2
223.4
223.0

1.265
1.265
1.270

85.40
93.48
89.80

July

August
September

0.40
0.43
1.11

0.57
0.78
0.93

0.81
1.03
1.18

0.94
0.89
0.94

222.4
222.0
222.5

861.5
863.0
863.5

6.158

1.282
1.280
1.279

89.15
101.17
92.98

October
November
December

0.20
0.79
0.73

0.77
0.74
0.57

0.66
1.24
1.11

0.98
0.99
1.02

221.1
221.4
221.6

862.8
863.6
862.9

6.258

1.287
1.293
1.303

94.51
94.62
91.61

0.03
0.19
0.89

0.43
0.45
0.91

0.61
0.79
1.20

1.00
0.91
0,85

219.6
217.6
217.3

858.6
852.9
852.0

6.341

.303
.310
.312

100.84
82.15
88.18

1.57

1.13
1.02
1,37

0.95
1.08

218.7
216.2
216.7

852.6
848.7
849.6

6.281

1.27

1.02
0.58
1.13

.305
.305
.300

75,24
91,96
94.76

July
August
September

0.94
0.66
0.61

0.85
0.91
0.74

0.74
0.85

1.11
1.02
0.99

216.4
215.7
214.5

847.7
846.9
843.3

6.310

.308
.305

1.304

97.36
84.01
87.42

October
November
December

0.18
0.34
0.57

0.48
0.42
0.60

0.49
0.28
0.69

0.95
0.81
0.60

212.8
211.3
210.0

839.1
834.1
828.9

6.390

1.312
1.323
1.330

(H)103.69
77.12
51 .59

0.44
0.82

0.59
0.80
0.41

0.66
0.96
0.65

0.52
0.66
0.76

208.0
206.9
203.9

822.4
817.7
809.5

6.460

1.334
1.329
1.333

87.55
67.51
69.29

-0.21

0.48
0.72
0.57

0.73
0.66
0.60

199.7
197.8
198.2

800.5
799.9
804 .1

E>6.56o

E>1,337
1.331
1.318

50.12
16.79

0.63

r6.450

1979

January
February
March

t

April
May
June

-0.11

(H>1.38

E>1.14

1980

January
February
March

-0.03

April
May
June

-1,18
-0.10
1.22

July
August
September

0.92

(H)1.80
rl.32
pO.93
3
1.67

October
November
December

0.79
1.51

rO.71

rl.19
reO.74

rO.74
reO.85

200.0
202.3
r202.9

816.2
820.5
r818.1

pO.77

eO.90

eO.91

p202.8

p816.2

1.51
1.21

0.70

1.320
rl.315
rl . 320
pi. 325

7.87

43.37
r66.52
p75.97
CNA)

NOTE: Series are seasonally adjusted except those series that appear to contain no seasonal movement. Unadjusted series are indicated by ©. Current high values are indicated by ED; for
series that move counter to movements in general business activity, current low values are indicated by[R). Series numbers are for identification only and do not reflect series relationships or
order. Complete titles and sources are shown at the back of the book. The "r" indicates revised; "p", preliminary; "e", estimated; "a", anticipated; and "NA", not available.
Graphs of these series are shown on pages 13, 31, and 32.
Series 102 reached its high value (1.64) in June 1975. 2See footnote 1 on page 68. 3Average for weeks ended November 5
and 12.
NOVEMBER 1980




71

CYCLICAL INDICATORS
B I

CYCLICAL INDICATORS BY ECONOMIC PROCESS -Con.

MAJOR ECONOMIC
PROCESS

^H MONEY AND CREDIT-Con,

Minor Economic
Process
Timing Class

Year
and
month

Credit Flows-Con.
I L, L
,

112. Net change
in bank loans
to businesses
(Ann. rate,
bil.dol.)

L, L,L

L,L, L

11 3. Net
change in
consumer installment
debt
(Ann. rate,
bil.dol.)

L, L, L

L, I I
,

14. Current
liabilities
of business
l
failures®

110. Total
private
borrowing
(Ann. rate,
mil.dol.)

L, U,U

39. Delinquency 93. Free
rate, 30 days
reserves ®
and over, consumer installment loans

(Mil.dol.)

1 merest Rates

Bank Reserves

Credit Difficulties

(Percent)

(Mil.dol.)

L, Lg, U

94. Member
bank borrowing from the
Federal
Reserve©
{Mil.dol.}

L, Lg, Lg

C, Lg, Lg

119. Federal
funds rate @

114. Treasury
bill rate®

(Percent)

(Percent)

1978

January
February
March

17.21
19.97

29.24
34,34
48.91

April
May
June

18,10
26,24
21.96

49.27
51.36
50.48

July
August
September

13.61
11.78
13.92

October
November
December

10.90

309,956

168.31
205.01
324.41

2.42
2,48
2.51

-176
-272

336,240

202.99
160.40
178 84

2.44
2.28

41.59
43 58
44,16

345 916

231 82
206 40
127 02

394 412

-0.94

40 51
45 98
52 79

475 34
178 93
196 54

January
February ,
March

39 31
33.07
5 76

36 80
42,76
43 50

347,904

April
May
June

39 52

49 26

9.76

8.77

481
405
344

6.70
6,78

6.45
6.46

6 79

6 32

-475
-975
-974

539
1 ,??7
1 111

6 89
7 36
7 60

6 31
6 43
6 71

2 42
2 37
2 42

-1 ,146

1 286
1 147
1 068

7 81
8 04
8 45

7 07
7 04
7 34

2 35
2 34
2 45

-1 049

2 44

-38

-885
-993

1 ?61
7??

-417
-749

8 96

8 11

9

8

7£

874

in ni

fiQ9

QQA

1A

-764

973

10,06
i n no

70

Q IP

IS79

"31 QQ

?1 ?i

July
Auyust
September
October
November
December

-3Q

•an 70

dfi ^R

29 32

1 Q9

on CA

43.36

90

£7

qc

O.CC

Q£A

O£T

91 9 ?n

fuN/id ann

1 fl

00

00

4

CC

1£

007

an

186.20

OQ

01

242.76
pnn A.f\
070 i 7

[H}53.35

70

1 Q

•3

00

177.09
1P7 7fi

OQC

•anq 740

7C

m

"3T
. JI

[u\o

1 o

lH/<-. I £

2.31
9

Q-3

OOQ

7A9

a QV

0

flO

2

07

0

AC

0

AC

QQQ

2

d7

QC\A
-yu^

HQ7
1 ,uy/

-1,339

1,344

Tfcn
I ,750

2,022
1 ,906
1,473

2.59
/1 C.
2 .45

2 . en
oU

OQQ

- i ,^yu
1 aon

1 i 7c

138,02

f\

£.64

-1 »751
-1,079

r352,792

243.15
190.79
274.24

2.37
2.32
2.53

-1,465
P-2,680

r171 ,740

428 15
381 15
436 68

2 53
2 64
2 74

fR

1 777
1 » 1 'I
•1

'3Q£

1

1 7Q

A7

9 . qe
4b
9.27
/1/T
9 ,*lo

iUA, U 1
AT
1

9 . A ft
**y
Gfi
9 .bo
f\f
9 .Ub

1 fS 4/
(U. 47

9 . f>^?
cy
/1 r
9 .flb

i n l^
IU, o/t
in 9fl
IU. ^y

i ny4
IU, QA
11.43
i *a 77
13, T?
T <3

14, 1Q
IB
1 Q 7O
1 3 , /8

10.18

n ,47
11

01
1 1 ,«/

12.07

1980

January
February
March
April
May
June
July
AUQUSt

September
October
November
December

[H}55.48
35.83
-1.52
2.47

-38.96
2.14

16.46
27.54
17.24

-23.82
-41.21
-41 56

H3.06
r30.23
r30.3§

-7.31
0 18
17.40

p29.36
2
29.65

(NA)

p283,032

445 69
345 41
(NA)

-999

-2 261
-835

p-114

2 77
2 94
2 70

p28
p-356
P i nR£

(NA)

p-1 018
9

-i 4°n

1,?41
1,655
H>2,824

13.82
14.13
17,19

12 04
12.81
[H)15.B3

2 455
1 018
p'J65

fu\i7 51
10 98
9 47

14 00
9 15

p390
p687
_1

•) A A

nl '41 'i
3
1 071?

9 03
9 61
i no/07
IU.

1? Rl
91 A

GO

7 nn

8 13
Q Pfi

10 32

n

ea
i»i o 70

(MOTE: Series are seasonally adjusted except those series that appear to containno seasonal movement. Unadjusted series are indicated by ®. Current high values are indicated by[H); for
series that move counter to movements in general business activity, current low values are indicated by [H). Series numbers are for identification only and do not reflect series relationships or
order. Complete titles and sources are shown at the back of the book. The "r" indicates revised; "p", preliminary; "e", estimated; "a", anticipated; and "NA", not available.
Graphs of these series are shown on pages 32, 33, and 34.
1
3
Sories 14 reached its high value (96.99) in September 1977. 2Average for weeks ended November S and 12.
Average for
weeks ended November 5, 12, and 19.
''Average for weeks ended November 6, 13, and 20.

72



NOVEMBER 1980

CYCLICAL INDICATORS
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Con.

MAJOR ECONOMIC
PROCESS

Q MONEY AND CREDIT-Con.

Minor Economic
Process
Lg, Lg, Lg

C, Lg, Lg

U, Lg, Lg

116. Corporate
bond yields®

115. Treasury
bond yields®

117. Municipal
bond yields®

(Percent)

Timing Class

Outstanding Debt

Interest Rates-Con.

(Percent)

(Percent)

Lg, Lg, Lg

Year
and
month

Lg, Lg, Lg

Lg, Lg, Lg

18. Secondary 67. Bank rates
n short-term
market yields
onFHA
justness loans
mortgages®
®

109. Average
prime rate
charged by
banks®

(Percent)

(Percent)

(Percent)

Lg, Lg, Lg

66. Consumer
installment
debt

(Mil.dol.)

Lg, Lg, Lg

2. Commercial
nd industrial
oans outtanding, weekly
eporting large
ommercial
anks
{Mil.dol.)

Lg, Lg, Lg

95. Ratio,
consumer installment debt
to personal
'ncome
(Percent)

1978

January
February
March

8 70
8 70

7 51
7 60

5 71
5 62

8.70

7.63

5.61

8.88
9.00
9.15

7.74

5.80

7 87

6 03

9 44
9 74

7.94

6.22

July
August
September

9.27
8.83

8.10

6.28

8 78

7 88
7 82

6 12
6 09

9 96
9 81
9 81

October
November
December

9 14
9 30

8 07
8 16

6 13

in r\A

9.30

8.36

6.50

10.23

January
February
March

9 47
9 52
9 65

8 43
8 43

fi 47

R 45

6

in 9£L
10 24
in ?fi

April
May .
June

9.69

8.44

9 82

8 55

9.51

8.32

6 29
6 25
6 13

10 61
10 49

July
August
September

9 47
9 57
9 87

8 35
8 42
8 68

6 13
6 20
6 52

10 46
10 58
11 37

October
November
December

11.17
11 52
11 .30

9.44

9 80
9 58

7 08
7 30
7 22

12 41
1 2 24

11 65
13 23
53)14 08

10 03
11 .55
|H>11 87

7 35
8 16
fH}9 17

April
May
June

13.36
11.61
11.12

10.83

July
August
September

11.48
12 31
12 74

October
November
December

13.17
M4.07

11.20
'11.84

8 96

9 92

11

AA

236 758
241 038
245 245

122 854
lot; nil
126 871

248 711
252 343

128 005

9 94
i n Qd.
11.55

9 98

fi 1Q

8 90

118 248
11 q cop
121 346

9 00
9 01
9 4]

(NA)

(NA)

225 714
228 576
232 652

8 00
8 27
8 63

9 35

April
May
June

7 93
8 00
8 00

9 18

ocq qqq
O C O 901
coo yCj I
267,630

9CC

noq

13 95

M m

U r\c

14 1?

1/1 oq
1/1 on

1400

IOQ qoy
ion 1/17

U

101

U

ACC

•\ ql

lo 1 ,7QC
/oo
131,708

AQ

1 A CO

cc

14.61
14.65

1979

fi "31
-30

19 97

n
n
n

-jc

97fi KQ7

-jc
-jc

07/1 ocn

m nofl
i 07 7 /in

977 ,OOD
LI I QOK

1 OQ 99n
loo,c£U

11 75
11 75
11 65

281 990

n

(NA)

12 34

12 31

CA

11 91
12 90
14 39
15 55

(NA)

15 81

1C

on

141 *\99

OQC Oqc

m

287 854

146 124

oqn ?Q7
292 743
OQ7

l aft

1A

1 4 , 1C.
/o

1 A

I4.o 01
1

14.84

14 oq
ic

no

1C

I-!

l/iq cno

1£

0,9

1 CO f)AQ

i c n/i
(HYl*.

1C

IRQ

1 CC

299 375
301 782
303 131

155 971

1C 1 1

1 CA

O1O

1C

m

CqO

CC1

U

fit

QC

1980

January
February
March

15 25
15 63
1 ft "31

12 60
{NA)

15 67

0)14 63

304 503
306,798
0)308 235

159 215
162 201
162 074

U qo

14 88

i A oq

9.82
9.40

8.63
7.59
7.63

13.45
11.99
11.85

1)17.75

B)19.77
16.57
12.63

306,250
302,816
299,353

162,280
159,033
159,211

14.78
14.57
14.32

9.83

8.13

10 53
10 94

8 67
8 94

12.39
13 54
14 26

11 56

11 48
11 12
12 23

298,744
298 759
300,209

rl60,299
r!62,818
165,347

14.06
r!3 94
pi 3 86

9.11

14.38

2

9.55

3

13.79
15.56

(NA)

[H)pl67,794
"170,265

(NA)

NOTE: Series are seasonally adjusted except those series that appear to contain no seasonal movement. Unadjusted series are indicated by ®. Current high values are indicated byH); for
series that move counter to movements in general business activity, current low values are indicated by (H). Series numbers are for identification only and do not reflect series relationships or
order. Complete titles and sources are shown at the back of the book. The "r" indicates revised; "p", preliminary; "e", estimated; "a", anticipated; and "NA", not available.
Graphs of these series are shown on pages 15, 34. and 35.
3
Average for weeks ended November 7, 14, and 21. 2Average for weeks ended November 6, 13, and 20.
Average for November 1
through 24.
'•Average for weeks ended November 5 and 12.
IM Jl

NOVEMBER 1980




73

CYCLICAL INDICATORS
DIFFUSION INDEXES AND RATES OF CHANGE

Qj DIFFUSION INDEXES

Year
and
month

950. Twelve leading
indicator components
(series 1,3, 8, 12, 19,
20,29,32,36,92, 104,
106)

1 -month
span

6-month
span

952. Six lagging
indicator components
(series 62, 70, 72, 91,
95, 109)

951. Four roughly
coincident indicator
components (series
41,47,51,57)

1 -month
span

6-month
span

961. Average workweek
of production workers,
manufacturing (20
industries)

1 -month
span

6-month
span

1-month
§pan

9-month
span

962. Initial claims for
State unemployment
insurance, week including the 12th
(51 areas)

963. Number of employees on private
nonaqricultural payrolls
(172 industries)

1-month
span

9- mo nth
span

1 -month
span

6- mo nth
span

1978
January
February
March

45.8
62.5
41.7

58,3
54.2
58.3

25.0
75.0
100.0

100.0
100.0
100.0

100.0
100.0
91.7

100.0
100.0
100.0

2.5
75.0
90.0

77.5
65.0
40.0

33.3
47,1
54.9

76.5
56.9
47,1

68.6
68.6
71.8

82.3
82.8
79.9

April
May
June

66.7
54.2
62.5

54.2
50.0
58.3

100.0
50.0
75.0

100.0
100.0
100.0

66.7
100.0
91.7

100.0
83,3
83.3

85,0
5.0
62.5

52.5
70.0
95.0

82.4
11.8
58,8

52.9
60.8
60.8

69.8
61.9
64.2

74.7
75.3
74.7

July
August
September

45.8
50.0
62.5

62.5
83.3
66.7

75.0
100.0
62.5

100.0
100.0
100.0

83.3
83.3
83.3

100.0
100.0
100.0

47.5
45.0
60.0

82.5
47.5
22.5

49.0
42.2
94,1

51.0
76.5
15.7

61.0
67.7
67.2

73.3
77.6
80.5

October
November
December

54.2
37.5
66.7

66.7
66.7
50.0

100.0
100.0
100.0

100.0
100.0
100.0

66,7
100,0
83.3

100.0
100.0
83.3

35.0
67.5
57.5

62.5
70.0
12.5

25.5
29.4
86.3

51.0
66,7
29.4

68.0
75.3
74.7

82.0
79.1
78.2

January
February
March

58.3
41.7
66.7

33.3
41,7
41.7

25.0
75.0
100.0

75.0
87.5
50,0

83.3
75.0
75.0

100.0
100.0
100.0

52.5
37.5
67.5

15.0
10.0
15.0

11.8
72.5
68.6

46,1
27. 5
25.5

66.9
66.3
62.2

74.7
71.8
64.0

April
May
June

25.0
45.8
41.7

41.7
33,3
29.2

12.5
75.0
75.0

75.0
50.0
25,0

91.7
75,0
83.3

83.3
100.0
100.0

0.0
92.5
32.5

17.5
30.0
17.5

7.8
66.7
66.7

56.9
49.0
31.4

49.7
58.1
57.8

60.5
53.8
51.5

July
August
September

45.8
29.2
54.2

37.5
33.3
45.8

100.0
50.0
50.0

100.0
50.0
75.0

66,7
83.3
75.0

100.0
83.3
75.0

75.0
45.0
72.5

32.5
25.0
90.0

37.3
54.9
86.3

21.6
23.5
49.0

57.0
54.4
52.9

58.1
55.5
55.2

October
November
December

16.7
20.8
50.0

41.7
45.8
16.7

62.5
50.0
100,0

75.0
75.0
25.0

83.3
41.7
50.0

50.0
58.3
50.0

37.5
57.5
65.0

45.0
32.5
27.5

8.8
53.9
68.6

35.3
33.3
5.9

65.1
55.2
53.5

59.3
63.1
56.4

January
February
March

41.7
29.2
33.3

0.0
16.7
12.5

75.0
25.0
0.0

25.0
0.0
0.0

58.3
66.7
41.7

66.7
66.7
50.0

75.0
10.0
0.0

17.5
2.5
5,0

25.5
60.8
46.1

2.0
2.0
p9.8

60.2
54.9
45.9

42.7
38.1
32.0

April
May . ,
June

12.5
16.7
50.0

16.7
41.7
45.8

0.0
0.0
25.0

0.0
0.0
25.0

66.7
33.3
33,3

50.0
50.0
50.0

55.0
17.5
17.5

r!2.5
5.0
p5.0

3.9
33.3
70.6

(NA)

28.2
29,1
22.7

22.4
r26.7
r25.6

July
August
September

83.3
79.2
91.7

"80.0

25.0
75.0
75.0

2

66.7
33.3
33.3

50.0

32.5
r87.5
r65.0

34.0
T61.6
r65.4

p33,l

October
November
December

'70.0

1979

1980

2

100.0

0.0

"50.0

3

p55.0

P62.7
(NA)

p65.1

NOTE: Figures are the percent of series components rising. (Half of the unchanged components are counted as rising.) Data are centered within the spans: 1-month indexes are placed on
the 2d month, 6-month indexes on the 4th month, and 9-month indexes on the 6th month of the span. Diffusion indexes 961, 962, and 963 are computed from seasonally adjusted components; indexes 950,951, and 952 are computed from the components of the composite indexes. The "r" indicates revised; "p", preliminary; and "NA", not available.
Graphs of these series are shown on page 36,
Excludes saries 12 and 36 for which data are not yet available.
2
Exeludes series 57 for which data are not yet available.
3
Exeludcs series 70 and 95 for which data are not yet available.

74



NOVEMBER

1980

CYCLICAL INDICATORS
C

DIFFUSION INDEXES AND RATES OF CHANGE—Con.

B | DIFFUSION INOEXES-Con.
B
964. Value of manufacturers' new orders,
durable goods industries (35 industries)

Year
and
month

965. Newly approved
capital appropriations,
deflated, The
Conference Board
{17 industries)

966. Index of industrial
production (24
industries)

967, Index of industrial
materials prices ®
(13 industrial materials)

85.7
91.4
80.0
85.7
80.0
94.3

48.6
80.0
66.7

88.6
80.0
88.6

77.1
45.7
62.9

9K4

87.5
54.2
83.3

87.5
87.5
85.4

70.8
83.3
70.8

50

97.1
91.4

69.2
34.6
46.2

59

October
November
December

83.3
79.2
91.7

27

July
August
September

39.6
47.9
85.4

62

74.3
42.9
57.1

1 -month
span

*48

37.1
60.0
45.7

6-month
span

'56

9-month
span

1 -mo nth
span

49

1 -month
span

1 -quarter
span

4-Q moving
avg.

9-month
span

968. Index of stock
prices, 500 common
stocks' * ®

1 -month
span

9-month
span

960. Net profits,
manufacturing 2 ®
(about 700 companies)

1-quarter
span

4-quarter
span

1978

January
February
March
April
May
June

. .

3

66.7
66.7
58.3

30.6
50.0

"49.1
"62.1
'69.8

*78

50.0
61.5
80,8

69.2
80.8
84.6

90.7
90,7
59.3

"82.8
"86.2
"87,7

*78

87.5
87.5
91.7

65.4
69.2
76.9

88.5
92.3
88.5

28.8
98.3
37.3

"70.2
*67.5
"68.4

*80

91.7
79.2
83.3

88.5
80.8
42.3

88.5
88.5
92.3

69.0

39.1
47.3
67.3

*74

*52

66.7
79.2
87.5

62.5
66.7
50.0

61.5
76.9
76.9

96.2
96.2
88.5

94.8
35.5
85.5

18.2
32.7
57,4

'71

45

62.5
54.2
70.8

56.2
54.2
45.8

69,2
42.3
53.8

80.8
84.6

80.0
16.4
90.0

90.7
88,9
75.0

*74

'45

16.7
62.5
56.2

66.7
50.0
54.2

46.2
30.8
53.8

66.7
66.7
58.3

64.8
92.6
53.7

63.0
68.5
68.5

*63

"51

52.1
39.6
45.8

58.3
58.3
45.8

=62.5

4*7

64.6
52.1
58.3

"66.7
58.3
3
58,3

38.0
95.4

69.8
37.7
39.6

16.7
16.7
12.5

50,0
73.1
61.5

74.1
52.8

39.6
47.2

p48

75.0
37.5
35.4
12.5
16.7
16.7

r!6.7
8.3
r!2.5

11.5
15.4

r29.2

p33.3

53.8
76.9
57.7

3
3

8,1

8.6
0.0

1979
62.9
45.7
62.9

!

82.9
80.0
61.4

48

25.7
62.9
51.4

65.7
62.9
60.0

33

July
August
September

42.9
57.1
60.0

54.3
45.7
75.7

48

October
November
December

51.4
45.7
54.3

62.9
62.9
42.9

53

January
February
March

72.9
40.0
31.4

22.9
28.6
34.3

71

April
May
June

17.1
34.3
42.9

r54.3
p34.3

January
February
March ..,.'
April
May
June

. . .

61.5
76.9

5

91.7

5
5
5

5

3.7

...

54

1980

. ..

July
August
September

71.4

44.3

15

p50

r54.3
r82.9

p75.0

5

58.3
50.0
53.8

66.7

6

65.4

6

3.8
26.4
92.5
89.6

90.6
94.3
86.8

46.2

(NA)

77 .4

50.0
46.2
46.2

0.0

r87.5

p71.4

October
November
December

3

92.5
88.7
76.4
43.4

50.0

NOTE: Figures are the percent of series components rising. (Half of the unchanged components are counted as rising.) Data are centered within the spans: 1-month indexes are placed on
the 2d month, 6-month indexes on the 4th month, and 9-month indexes on the 6th month of the span; 1-quarter indexes are placed on the 1st month of the 2d quarter, 3-quarter indexes on
the 1st month of the 3d quarter, and 4-quarter indexes on the 2d month of the 3d quarter. Seasonally adjusted components are used except in index 968, which requires no adjustment, and
index 969, which is adjusted as an index (1-quarter span only). Unadjusted series are indicated by @. The "r" indicates revised; "p", preliminary; and "NA", not available.
Graphs of these series are shown on page 37.
x
Based on 62 industries through March 1978, on 59 industries through September 1978, on 58 industries through January 1979,
on 55 industries through June 1979, on 54 industries through January 1980, and on 53 industries thereafter. Data for component
industries are not shown in tab.le C2 but are available from the source agency.
2
This is a copyrighted series used by permission; it may not be reproduced without written permission from Dun and Bradstreet,
Inc.
3
Based on 12 components (excluding print cloth).
"•Based on 58 components for January 1978 through May 1978 and on 57 components through September 1978.
5
Based on 12 components (excluding rosin).
6
Average for November 4, 11, and 18.
NOVEMBER




1980

75

CYCLICAL INDICATORS
DIFFUSION INDEXES AND RATES OF CHANGE—Con.

DIFFUSION INDEXES-Con.

Year
and

quarter

970. Business expenditures for new plant and
equipment (18 industries)

a. Actual
expenditures

Actual

b. Later
anticipations

e. Early
anticipations

973. Not sales, manufacturing
and trade1 ©

972, Net profits, manufacturing
and trade1®

971. New orders, manufacturing1©

Anticipated

Actual

Anticipated

Actual

Anticipated

(4-Qspan)

(4-Q span)

78
80
84
82

80
81
84
85

82
86
90
86

73
76
78
78

79
82
84
83

84
86
88

86
87
92
90

80
84
80
72

78
74
70
72

78
82
80
70

87
84
82
82

85
88
84
78

66
75
57
62

62
54

66
73
59
61

73
62
(NA)

72
80
63
67

(1-Q span)

(1-Qspan)

0-Qspan)

(4-Qspan)

(4-Qspan)

66.7
75.0
88.9
44.4

61,1
72.2
69.4
58.3

66.7
66.7
66.7
72.2

80
83
82
82

80
86
88
84

71
74
74
76

61.1
88.9
61.1
66.7

77.8
69.4
63.9
72,2

61.1
66,7
61.1
69.4

83
86
86
86

82
83
88
86

66.7
77.8
83.3
77.8

66.7
72.2
66.7
72.2

55.6
72.2
69.4
77.8

85
81
73
78

52.8
63.9
(NA)

50.0
58.3
41.7

47.2
75.0
66.7
50.0

74
63

(4-Q !ipan)

(4-Qspan)

1977
First quarter ,.
Second quarter
Third quarter..
Fourth quarter
1978
First quarter ..
Second quarter
Third quarter..
Fourth quarter

1979
First quarter ..
Second quarter
Third quarter..
Fourth quarter
1980
First quarter ..
Second quarter
Third quarter,.
Fourth quarter

(NA)

(NA)

DIFFUSION IIMQEXES-Con.
Year
and
quarter

974. Number of employees,
manufacturing and trade1 ©

975. Level of inventories,
manufacturing and trade1®

976. Selling prices, manufacturing 1 ©

Actual

Actual

Actual

Anticipated

(4-Q span)

(4-Q span)

Anticipated

Anticipated

977. Selling prices, wholesale
trade1 ®
Anticipated

Actual

{4-Q span)

(4-Q span)

(4-Q span)

(4-Qspan)

(4-Q span)

(4-Qspan)

978. Selling prices, retail
trade1 ®

Actual

Anticipated

(4-Q span)

(4-Q span)

1977

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

60
59
61
62

59
60
61
59

74
72
74
75

65
68
72
70

86
86
87
87

78
81
86
82

87
86
88
90

80
86
86
84

90
86
92
92

86
84
89
88

62
64
64
63

59
60
62
62

76
76
76
78

67
70
73
74

87
88
90
91

82
84
87
87

89
92
93
94

84
90
87
90

91
94
94
93

90
88
92
92

62
60
60
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
(NA)

54
56
48
50

67
61
(NA)

62
70
53
56

90
88
(NA)

87
90
83
86

92
90
(NA)

90
92
87
88

92
91
(NA)

90
93
84
90

1978
First quarter ..
Second quarter
Third quarter..
Fourth quarter
1979
First quarter ..
Second quarter
Third quarter..
Fourth quarter
1980
First quarter ,.
Second quarter
Third quarter..
Fourth quarter

NOTE: Figures are the percent of series components rising. {Half of the unchanged components are counted as rising.) Data are placed on the terminal month of the span. Series are seasonally adjusted except those, indicated by © . that appear to contain no seasonal movement. The "r" indicates revised; "p", preliminary; and "NA", not available.
G raphs of these series are shown on page 38.

*This is a copyrighted series used by permission; it may not be reproduced without written permission from Dun and Bradstreet,
Inc. Dun and Bradstreet diffusion indexes are based on surveys of about 1,400 business executives.

76



NOVEMBER

1980

CYCLICAL INDICATORS
DIFFUSION INDEXES AND RATES OF CHANGE—Con.

I
Q SELECTED DIFFUSION INDEX COMPONENTS: Basic Data and Directions of Change

Diffusion index components

1980

June

May

April

March

July

August

p
September1" October

961. AVERAGE WORKWEEK OF PRODUCTION WORKERS, MANUFACTURING '
(Average weekly hours)

39.8

All manufacturing industries

o

39.3

(55)

39.1

39.0

08)

(18)

(32)

37.3 +
38.5

37.5 +
37.6

37.6 +
37.0

38.1 +
36.6 +

r38.9
r37.4

40.6
40.6

(0)

Percent rising of 20 components

39.8

40.3
39.2

40.4
38.8

40.2
38.6

+

r39.2

39.6
40.6

+

r40.1 +

+

r40.8

+

39.0 +
39.6 +

r39.4

+

40.4
38.2 +

+
+

+

39.4 +

39.5

(88)

(65)

(55)

o
+

38.9
38.1

38.6
38.0

40.3 +

41.0
39.7

+

39.6

Durable goods industries:
Lumber and wood products
Furniture and fixtures

.

38.7
38.5

...

o

+

Stone clay and glass products
Primary metal industries

40.9
40.7

Fabricated metal products
Machinery except electrical

40.7
41.3

+
+

40.8
41.5

39.9
41.0

39.7
40.7

Electrical equipment and supplies
Transportation equipment

40.0
40.4

+

39.9
40.5

39.5
39.7

39.2
39.5

Instruments and related products
Miscellaneous manufacturing industries

40.4
38.6

+

40.7
38.5

40.3
38.3

Food and kindred products .
Tobacco manufactures

39.3
37.7

+
+

39.6 +
38.2 o

39.9
38.2

39.6
37.3

Textile mill products
Apparel and other textile products

40.8
35.3

+

40.3
35.8

39.7
35.3

39.1
35.2

Paper and allied products
Printing and publishing

42.6
37.2

o

42.5
37.2

41.7
37.1

41.4
36.8

41.8
39.7

41.5
41.1

41.3
42.5

41.1
42.3

40.8
42.2

+

+

o

r42.2

+

39.9
36.9

+
+

40.1
37.3

39.2
36.7

39.0
36.1

+
+

r40.2
r36.5

o

- r72,229

+

+

+

+

+

40.9
40.4

40.3
41.0

o

40.3
40.8

+

39.5
40.4

+
+

39.7
40.8

40.1 o
38.3 +

r40.1 o
38.6 +

40.1
38.8

39.7 +
38.5 -

r39.8
r37.3

39.7
37.0

o
+

39.7
38.4

38.8
35.1

+

r39.2

o

r35.1 o

39.6
35.1

o
+

39.6
35.3

41.4 +
36.9 +

41.8 +
37.1

42.2
36.9

+
+

42.3
37.0

41.0 +

41.3
42.5

+
o

41.4
42.5

40.2
36.4

+

40.4
36.2

40.9

39.8
38.6

Nondurable goods industries:

Chemic; Is and allied products
Petroleum and coal products

...

Rubber and plastic products, n e e
Leather and leather products

+

39.3
36.7

o

o
+

964. VALUE OF MANUFACTURERS' NEW ORDERS, DURABLE GOODS INDUSTRIES 1
(Millions of dollars)

All durable goods industries

-

Percent rising of 35 components

77,546

-

72,416

-

-

66,454

+ r74,228

(43)

(34)

(17)

(31)

67,328

Primary metals
Fabricated metal products

-

11,141
9,738

-

9,680
8,862

-

8,373
8,333

+
-

Machinery except electrical
Electrical machinery

-

14,000
11,109

-

11,651
10,737

+
-

12,701
10,022

+

13,085

-

9,941

Transportation equipment
Other durable goods industries

+
-

16,345
15,213

+
-

17,510
13,976

-

14,320
13,579

+

12,672
13,733

+

,

2

(54)

(71)

79,373

4-

80,380

(83)

(71)

8,621

+
-

11,412
8,522

+
+

12,554
8,903

+
+

13,655
10,027

14,177
9,677

+

12,931
10,790

+
-

14,817
9,977

+

14,733
11,042

- r!4,175
- 14,399

+
+

17,900
15,222

+

14,929
15,994

8,947
8,076

+

10,811

+
+
-

+ r!6,362
+ 14,580

NOTE: To facilitate interpretation, the month-to-month directions of change are shown along with the numbers: (+) = rising, (o) = unchanged, and (-) - falling. The"r" indicates revised;
"p", preliminary; and "NA", not available.
1
Data are seasonally adjusted by the source agency.
2
Data for most of the 35 diffusion index components are not available for publication; however, they are included in the totals
and directions of change for the six major industry groups shown here.

NOVEMBER




1980

77

CYCLICAL INDICATORS
DIFFUSION INDEXES AND RATES OF CHANGE—Con.

Q SELECTED DIFFUSION INDEX COMPONENTS: Basic Data and Directions of Change -Con.

Diffusion index components

1980

May

April

March

Autjust r

Julyr

June

Septemberr

Octoberp

+ 143.7

+

966. INDEX OF INDUSTRIAL PRODUCTION '
(1967=100)

-

All industrial production. ,

-

(35)

Percent rising of 24 components^
Durable manufactures:
Primary and fabricated metals
Primary metals
,..
.....
Fabricated metal products

152.1

+
-

113.7
145.5

148.3

-

(12)

-

144.0

-

(17)

141.5

-

140.4

106.4
141.4

-

133.2

-

126.1

-

123,8
158.5
165.0
110.7
167.5

81.7

90.4

141.8
(67)

(29)

(17)

96.1

+

(88)

(75)

+
86.2
+ 125.3

+
90.3
+ 127.0

+ 98.5
+ 128.3

+
+
+

158.8
166.7
108.3
167.6

+
159.0
+
167.1
+
113.1
- 166.9

+ 160.1
+ 169.7
+ 118.9
+ 167,7

Machinery and allied goods
Nonelectrical machinery
Electrical machinery
Transportation equipment . .
Instruments

166.5
o 179.2
123.8
- 173.5

- 163.2
- 177.0
115.1
+ 173.8

-

162.1
171.4
109.8
171.0

158.3
- 166.6
+ 110.0
- 169.2

+
+
-

Lumber, clay, and glass
Clay, glass, and stone products
Lumber and products

-

156.4
125.3

- 148.8
- 105.2

-

140.8
104.5

- 134.5
+ 109.7

- 134.2
+
112.8

+ 135.0
+ 120.5

+ 140.6
+ 124.0

Furniture and miscellaneous
Furniture and fixtures
Miscellaneous manufactures

+
159.5
+ 152.3

- 157.1
- 151.2

149.5
- 147.3

-

+

138.6
144.7

+
141,1
- 144.2

+
143,1
+ 145.0

- 142.0
+
136.1

-

+

137.1
128.6

- 133.6
- 127.2

- 132.5
- 121.5

+
132.6
+ 123.8

+

148.2
- 136.5

-

145.7
135.5

Nondurable manufactures:
Textiles, apparel, and leather
Textile mill products . . . .
Apparel products
Leather and products

139.9
131.3
69.9

72,8

Paper and printing
Paper and products
Printing and publishing

-

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

- 213.6
140.7
264.4

-

209.1
137.4
261.8

-

Foods and tobacco
Foods
Tobacco products

+
+

-

147.8
121.9

,. .

Mining:
Coal
Oil and gas extraction
Metal, stone, and earth minerals
Metal mining
Stone and earth minerals

152.7
139.2

149.3
122.2

143.1
143.7

68.5

70.1

146.0

67.8

(NA)
(NA)

(NA)

- 143.5

132.9

NA)
NA)
NA)

(NA)
66.0

67.7

+ 146.2
- 135.4

- 143.6
+ 138.6

+ 146.5
+ 139.8

+ 150.5
+
141.1

+
-

150.7
140,9

199.2
133.0
248.1

-

191.1
131.3
242.9

- 190.3
- 130.5
242.5

+ 196.3
- 126.2
+
245.9

+
205.1
+ 130.7
+
247.6

-

(NA)
129.0
(NA)

+
149.5
- 116.2

-

149.0
113.9

- 148.9
+
119.6

- 148.2
- 117.4

+ 148.7

+ 150.0
- 133.2

- 149.8
+ 134.3

+ 154.9
+
'134.8

- 148.9
+ 135.6

-

- 123.7

+ 137.2
+
131.8

+ 143.4
+ 132.5

+
+

145.0
133.9

- 132.7
136.0

123.5
- 133.1

-

120.8
128,1

120.0
123.9

83.1

71.2

-

123.1

NA)
NA)

(NA)

+
+

+ 149.0
+ 136.0

74.0

125.5

(NA)
(NA)

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.
*Data are seasonally adjusted by the source agency.
2
Where actual data for separate industries are not available, estimates are used to compute the percent rising.

78



NOVEMBER 1980

ltd*

CYCLICAL INDICATORS
C I

DIFFUSION INDEXES AND RATES OF CHANGE—Con.

mm

SELECTED DIFFUSION INDEX COMPONENTS; Basic Data and Directions of Change-Con.

Diffusion index components

1980

April

March

August

July

June

May

September

October

November1

+

+

967. INDEX OF INDUSTRIAL MATERIALS PRICES 2

Industrial materials price index (1967=100) . . . .

- 316.9 - 301.9
(62)

Percent rising of 13 components

-

278.5

-

(15)

(12)

267.5

+

277.6

+

(54)

(0)

292.1

+

(77)

298.3
(58)

300.8

304.2
(50)

(65)

Dollars
Copper scrap

(pound). .
(kilogram). .
(pound). .
(kilogram). .

Lead scrap

+

0.732

-

0.674

-t-

-

0.313

0.688

0.690

0.220
0.485

- 98.000
108.025

- 91.800
101.191

- 71.000
78.263

(pound). .
(kilogram). .

+

- 7.918 +

(pound). .
(kilogram). .

+

Burlap

(yard). .
(meter). .

Cotton

Steel scrap

(U.S. ton). .
(metric ton). .

Tin
Zinc

0.364
0.802

8.368
18.448

0,389
0.425

-

-

0.788

-

+

(pound). .
(kilogram). .

+

(pound)
(kilogram). .

Hides

+

' . . . . . (yard). .
(meter). .

Wool tops

-

(pound). .
(kilogram). .

Print cloth

-

17.456

0.390
0.860

-

0.682
0.746

+

3.500

-

7.716

0.732
1.614

-

0.716
1.578

+

0.732
1.614

-

0.722
1.592

- 0.216 + 0.218 +

0.256
0.564

+

0.294
0.648

+

0.302
0.666

-

0.295
0.650

0.679

+

1.497

0.760
1.675

0.476

0.481

- 63.000
69.445

+ 68.000
74.956

+

78.000
85.979

+ 89.000
98.105

+ 93.000
102.514

+ 98.000
108.025

8.063
17,776

-

-

7.742
17.068

o

7.742
17.068

+

7,974
17.579

-

7,728
17.037

-

7.487
16.506

0.375
0.827

-

-

0.355
0.783

+

0.359
0.791

+

0,374
0,825

+

0.383
0.844

+

0.396
0.873

7.810
17,218
0.368

0.385
0.849

-

0.362
0.396

-

0.350
0.383

-

0.337
0.369

-

0.324
0.354

+

0.331
0.362

-

0.325
0.355

-

0.314
0.343

-

0.287
0.314

0.787

-

0,779

-

0.725

+

0.783
1.726

+

0.857
1.889

+

0.875
1.929

-

0.861
1.898

o

0.861
1.898

0.811

1.598

1,717

1.735

1.737

-

-

1.517

1.486

1.614

0.695
0.760

- 0.691

3.460
7,628

-

0.490

-

-

0.690
0.755

-

0.675
0.738

-

0.668
0.731

-

0.656
0.717

+

0.665
0.727

+

0.682
0.746 .

-

3.200
7.055

0

3.200
7.055

+

3.400
7.496

+

3,460
7.628

+

3.500
7,716

o

3.500
7.716

-

0.380
0,838

+

0.476
1.049

+

0.522
1.151

-

0.474
1.045

+

0.498
1.098

+

0.573
1.263

0.756
3.250

7.165

Rubber
Tallow

+ 48.000
105.821

o 48.000
105.821

- 46,500
102.514

- 45.000
99.207

o 45.000
99.207

o

45.000
99.207

-

-

-

-

+

(pound)
(kilogram). .

.

0.405
0.893

(pound). .
(kilogram). .

Rosin

1.080

+

0.152 + 0.167 +

(100 pounds)
(100 kilograms). .

0.592

-

1.305

0.750

-

1.653

0.711
1.567

0.181

- 0.180

- 0.168

0.399

0.397

0.370

0.682

1.504

-

0.680

1.499

0.335

0.678
1.495
0.368

o 45.000
99.207

o 45.000
99.207

o 45.000
99.207

0.688
1.517

+

0.756
1.667

+

0.802
1.768

-

0.187
0.412

-

0.179
0.395

-

0.169
0.373

+ 0.180
0.397

0.797
1.757

NOTE: To facilitate interpretation, the month-to-month directions of change are shown along with the numbers: (+) = rising, (o) = unchanged, and (-) ~ falling, The "r" indicates revised;
"p", preliminary; and "NA", not available.
1
Average for November 4, 11, and 18.
2
Data are not seasonally adjusted. Components are converted to metric units by the Bureau of Economic Analysis.

NOVEMBER 1980




79

OTHER IMPORTANT ECONOMIC MEASURES
NATIONAL INCOME AND PRODUCT

GNP AND PERSONAL INCOME

Year
and
quarter

50. Gross national product in 1972 dollars

a. Total

a. Total

217. Per capita
GNP in 1972
dollars

c. Percent
change at
annual rate

b. Difference

(Ann. rate,
bil.dol.)

(Ann. rate,
bil.dol.)

(Ann. rate,
bil.dol.)

(Ann. rate,
bil.dol.)

c. Percent
change at
annual rate

b. Difference

213. Final sales
in 1972 dollars

{Ann. rate,
dollars)

200. Gross national product in current dollars

(Ann. rate,
bil.dol.)

1977
First quarter ..
Second quarter
Third quarter..
Fourth quarter

6,084

22.7
7.4

8.9
4.8
7.0
2.2

1,367.8
1,395.2
1,407.3
1,426.6

6.5
27.4
12.1
19.3

1.9
8.3
3.5
5.6

6,276
6,390

10.6
6.7
11.9
10.5

1,430.6
1,422.3
1,433.3
1,440.3

4.0
-8.3
11.0
7.0

1.1

6,512

3.1

2.0

6,460
6,494
6,509

1,418.4
1,404.1
1,426.2
1,439.0

10.8
0.1
rlO.8

1,444.7
1,408.6
rl,411.7

4.4
-36.1
r3.1

1.2
-9.6
rO.9

6,514
6,337
r6,332

1,444.4
1,406.0
rl,417.8

1,820.2
1,876.0
1,930.5
1,971.3

64.1
55.8
54.5
40.8

15.4
12.8
12.1
8.7

1,315.7
1,331.2
1,353.9
1,361.3

27.6

2,011.3
2,104.2
2,159.6
2,235.2

40.0
92.9
55.4
75.6

8.4
19.8
10.9
14.8

2,292.1
2,329.8
2,396.5
2,456.9

56.9
37.7
66.7
60.4

2,520.8
2,521.3
r2,586.5

63.9
0.5

15.5

1,304.4
1,317.8
1,337.3
1,350.0

6,145
6,236
6,256

1978
First quarter ..
Second quarter
Third quarter..
Fourth quarter

1,351.3
1,379.6
1,395.1
1,414.6

6,431

6,506

1979
First quarter ..
Second quarter
Third quarter..
Fourth quarter

-2.3

1980
First quarter ..
Second quarter
Third quarter..
Fourth quarter

r65.2

GNP AND PERSONAL INCOME-Con.

Year
and
quarter

PERSONAL CONSUMPTION EXPENDITURES
230. Total in current
dollars

Disposable personal income
224. Current dollars 225. Constant
(1972) dollars
(Ann. rate,
bil.dol.)'

(Ann. rate,
bil.dol.)

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.)

1977
First quarter ..
Second quarter
Third quarter..
Fourth quarter

1,250.1
1,286.0
1,323.2
1,361.2

908.0
921.5
936.3
951.8

4,200
4,255
4,313
4,375

1,169.1
1,190.5
1,220.6
1,259.7

849.2
853.1
863.7
880.9

174.3
175.7
178.9
186.4

135.8
136.6
138.2
142.4

1,395.0
1,437.3
1,476.5
1,524.8

956.6
966.1
976.2
991.5

4,390
4,426
4,462
4,522

1,287.2
1,331.2
1,369.3
1,415.4

882.7
894.8
905.3
920.3

185.3
200.3
203.5
212.1

139.3
147.8
147.5
152,1

1,572.2
1,601.7
1,640.0
1,683.1

996.6
993.0
993.4
996.2

4,536
4,510
4,501
4,502

1,454.2
1,475.9
1,528.6
1,580.4

921.8
915.0
925.9
935.4

213.8
208.7
213.4
216.2

150.2
144.8
146.9
146.7

1,737.4

998.5
983.1
r991.7

4,502
4,423
r4,448

1,629.5
rl,626.6
H.683.3

936.5
910.8
r921.9

220.2

1978
First quarter ..
Second quarter
Third quarter..
Fourth quarter
1979
First quarter ..
Second quarter
Third quarter..
Fourth quarter
1980
First quarter ..
Second quarter
Third quarter,.
Fourth quarter

1,755.9
rl,810.7

195.7
r208.5

145.4
127.4
H32.9

NOTE; Series are seasonally adjusted except those series that appear to contain no seasonal movement. Unadjusted series are indicated by ©. Series numbers are for identification only and
do not reflect series relationships or order. Complete titles and sources are shown at the back of the book. The "r" indicates revised; "p", preliminary; "e", estimated; "a", anticipated; and
"NA", not available.
Graphs of these series are shown on pages 40

80



and 41.

NOVEMBER 1980

OTHER IMPORTANT ECONOMIC MEASURES
A

I

NATIONAL INCOME AND PRODUCT—Con.

^R GROSS PRIVATE DOMESTIC INVESTMENT

I
H PERSONAL CONSUMPTION EXPENDITURES-Con.
236. Nondurable
goods in current
dollars

Year
and
quarter

(Ann. rate,
bil.dol.)

238. Nondurable
•goods in 1972
dollars

(Ann. rate,
bil.dol.)

237. Services in
current dollars

(Ann. rate,
bil.dol.)

239. Services in
1972 dollars

(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.)

i

1977

First quarter
Second quarter
Third quarter
Fourth quarter

467.7
475.5
483.0
499.2

328.9
329.6
332.1
340.0

527.1
539.3
558.7
574.1

384.5
386.9
393.3
398.5

280.4
300.0
315.7
316.9

191.0
199.6
206.7
203.0

261.1
277.5
288.2
298.5

179.7
186.2
190.1
191.7

505.9
521.8
536.7
558.1

337.3
339.4
344.7
351.9

596.0
609.1
629.1
645.1

406.1
407.6
413.1
416.3

327.0
352.3
356.2
370.5

209.0
216.8
214.0
217.4

304.1
326,5
336.1
349.8

192.5
201.2
201.8
205.5

571.1
581,2
604.7
630.7

348.1
344.1
349.2
355.1

669.3
686.0
710.6
733.5

423.5
426.1
429.9
433.6

373.8
395.4
392.3
387.2

217.2
221.7
214.2
207.7

354.6
361.9
377,8
381.7

204,9
203,5
207.1
206.3

652.0
654.1
r665.8

354.1
347.8
T347.1

757.3
776.9
r808.9

437.0
435.6
r442.0

387.7
368.5
r348.4

203.2
188.6
H79.5

383.0
357.1
r365.2

202.9
186.0
H85.7

....

1978

First quarter
Second Quarter
Third quarter
Fourth quarter
1979

First quarter
Second quarter
Third quarter
Fourth quarter

....

1980

First quartar
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.)

^M GOVERNMENT PURCHASES OF GOODS AND SERVICES

30. Change in
business inventories in 1972
dollars

260. Total in
current dollars

(Ann. rate,
bil.dol.)

{Ann. rate,
bir.dol.)

26K Total in
1972 dollars

(Ann. rate,
bil.dol.)

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

267. State and
local government
in 1972 dollars

(Ann. rate,
bil.dol.)

{Ann. rate,
bil.dol.)

;

1977
19.3
22.5
27.5
18.5

11.3
13.4
16.6
11.3

380.0
391.6
400.5
412.8

264.5
267.6
270.3
271.5

138.2
142.6
145.6
151.2

100.3
101.8
101.8

241.8
249.0
254.9
261.6

166.0
167.3
168.5
169.8

22.8
25.8
20.0
20.6

16.5
15.6
12.2
12.0

419.4
428.3
440.9
453.8

270.7
271.3
274.7
276.0

150.9
148.2
152.3
159.0

99.9
96.6
98.5
99.3

268.5
280.1
288.6
294.8

170.9
174.7
176.2
176.6

19.1
33.4
14.5

First quarter
Second quarter
Third quarter
Fourth quarter

12.3
18.1

274.7
272.4
273.1
277.1

163.6
161.7
162.9
178.4

101.1

7.1
1.4

460.1
466.6
477.8
501.2

101.1

296.5
304.9
314.9
322.8

173.6
174.3
175.6
176.0

0.3
2.6
r-6.2

517.2
528.3
r533.6

280.0
280.9
r278.0

186.2
193,3
H91.4

104.3
106.7
r!03.9

331.0
335.0
r342.2

175.7
174,3
r!74.1

98.4

1978

First quarter
Second quarter
Third quarter
Fourth quarter
1979

First quarter
Second quarter
Third quarter
Fourth quarter

5.6

98.1
97.4

1980

First quarter
Second quarter
Third quarter
Fourth quarter

4.7
11.4

r-16.8

NOTE: Series are seasonally adjusted except those series that appear to contain no seasonal movement. Unadjusted series are indicated by ®. Series numbers are for identification only and
do not reflect series relationships or order. Complete titles and sources are shown at the back of the book. The "r" indicates revised; "p", preliminary; "e", estimated; "a", anticipated; and
"NA", not available.
Graphs of these series are shown on pages 41, 42, and 43.

ItCII

NOVEMBER 1980




81

OTHER IMPORTANT ECONOMIC MEASURES
NATIONAL INCOME AND PRODUCT—Con.

NATIONAL INCOME
AND ITS COMPONENTS

FOREIGN TRADE

Year
and
quarter

(Ann. rate,
bil.dol.)

256. Constant
(1972) dollars

252. Current
dollars

255. Constant
(1972) dollars

250. Current
dollars

Imports of goods
and services

Exports of goods
and services

Net exports of
goods and services

{Ann. rate,
bil.dol.)

(Ann. rate,
bil.dol.)

(Ann. rate,
bil.dol.)

257. Constant
(1972) dollars

253. Current
dollars

(Ann. rate,
bil.dol.)

(Ann. rate,
bil.dol.)

280. Compensation of

220. National income in current
dollars

(Ann. rate,
bil.dol.)

(Ann. rate,
bil.dol.)

1977

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

-9.2
-6.0
-6.3
-18.1

11.1
10.9
13.2

5.8

179.8
184.7
186.4
192.3

1,456.9
1,505.3
1,551.1
1,589.8

1,110.1
1,141.5
1,170.7
1,205.5

206.6

95. $
96.9

220.6
229.4

98.5
101.0

1,621.0
1,703.9
1,752.5
1,820.0

1,244.0
1,288.2
1,321.1
1,364.8

234.4

100.5
97.3

85.4
88.5
87.3
91.4

213.3

96.5
99.4

170.5
178.6
180.1
174.2

100,0
102.9
102.1
104.1

1,869.0
1,897.9
1,941.9
1,990.4

1,411.2
1,439,7
1,472.8
1,513,2

106,7
99.9

2,035.4
2,024,6
p2,068.6

1,555.2
1,567.2
rl,591.5

1978

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

224.9

100.7
109.2
111.9
113.8

-11.9

17.0
13.2
20.1
20.1

238.5
243.7
267.3
280.4

117.0
116.0
122.2
124.3

-13.6

25.0

308.1

28.3

307.0
r313.2

131.7
128.3

-22.2
-7.6
-6.8
-4.5

5.3
12.3
13.3
12.9

4,0
-8.1

184.4
205.7

213.8

1979

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

-2.3

251.9
269.5
292.4

1980

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

-2.2

r21.3

r32.2

321.7
309.2
r291.9

r!27.6

NATIONAL INCOME AND ITS COMPONENTS-Con.

Year

and
quarter

282. Proprietors'
income with inventory valuation
and capital consumption adjustments
(Ann. rate,
bildol.)

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.)

SAVING

288. Net interest

(Ann. rate,
bil.dQl.)

290. Gross saving
(private and government)

(Ann. rate,
bil.dol.)

292. Personal
saving

295. Business
saving

(Ann. rate,
bil.dol.)

(Ann. rate,
biLdol.)

1977

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

96.9
97.6
98.6
107.6

23.6
24.6
25.2
25.5

137.1
148.9
160.8
153.0

89.3
92.7
95.8
98.2

283.6

109.1
115.0
117.4
125.7

25.2
24.4
26.8
27.1

141,2
169.4
175.2
184.8

101.5
106.8
111.9
117.6

289.7
329.2
332.7
346.9

129.0
129.3
130.3
134.5

27.3
26.8
26.6
27.0

178.9
176.6
180.8
176.4

122.6
125.6
131.5
139.2

362.2
374.3
367.3

351.9

281.9
281. G

79.2
85.9
70.3
59.7

130.0
120.5

27,0
27.3
27.8

175.0
152.8

148.1
156.8

p!58,3

r!65.3

346.6
345.5
p345.4

279.2
287.6
r293.2

64.4
86.3
r84.9

253,3
276.0

291.6

213.9
226.8
243.2
238.8

52.5
65.9
71,9
69.5

1978

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

234.4

253.1
259.6
264.7

74.6
71.2
70.9
71.8

1979

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

266,0
274.6

1980

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

r!25.6

NOTE: Series are seasonally adjusted except those series that appear to contain no seasonal movement. Unadjusted series are indicated by ©. Series numbers are for identification only and
do not reflect series relationships or order. Complete titles and sources are shown at the back of the book. The "r" indicates revised; "p", preliminary; "e", estimated; "a", anticipated; and
"NA", not available.
Graphs of these series are shown on pages 44, 45, and 46.

82



NOVEMBER 1980

ltd*

OTHER IMPORTANT ECONOMIC MEASURES
NATIONAL INCOME AND PRODUCT—Con.

^B SHARES OF GNP AND NATIONAL INCOME

Q SAVING-Con.

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

247. Change in
business inventories

251. Net ex ports of
goods and services

(Percent)

249. Residential
fixed investment

(Percent)

(Percent)

(Percent)

1977

-13.1
-16.6
-23.5
-24.8

4.2
5.1
5.4
5,1

64.2
63.5
63.2
63.9

-19.2
5.0
2.3
10.8

5.3
5.0
4.8
4.7

15.8
12.7
14.0
10.0

1.7
-29.6
p-34.4

First quarter
Second Quarter
Third quarter
Fourth quarter

9.9
9.9
10.0
10.1

4.5
4.9
4.9
5.1

1.1
1.2
1.4
0.9

-0.5
-0.3
-0.3
-0.9

64.0
63.3
63.4
63.3

10.1
10.4
10.5
10.6

5.0
5,1
5.1
5.1

1.1
1.2
0.9
0.9

-1.1
-0.4
-0.3
-0.2

5.0
5.4
4.3
3.5

63.4
63.3
63.8
64.3

10.6
10.7
10.9
10.8

4.9
4.8
4.8
4.7

0.8
1.4
0.6
0.2

-0.3
-0.1
-0.5

3.7
4.9

64.6
64.5
65.1

10.8
10.6
10.5

4.4
3.5
3,6

0.2
0.5
r-0.6

-0.5
-0.1
rO.8

1978

First quarter
Second quarter
Third quarter
Fourth quarter
1979

First quarter
Second quarter
Third quarter
Fourth quarter

0.2

1980

First quarter
Second quarter
Third quarter
Fourth quarter

r4.7

M SHARES OF GNP AND NATIONAL INCOME-Con.

Year
and
quarter

Percent of GNP-Con.
265. Federal Govt.
purchases of goods
and services
(Percent)

Percent of National Income

268. State and
local govt. purchases of goods
and services
(Percent)

64. Compensation of
employees
(Percent)

283. Proprietors'
income with IVA
and CCA 1
(Percent)

285. Rental income
of persons with
CCA

1

(Percent)

287. Corporate
profitswith IVA
and CCA 1

289. Net interest

(Percent)

(Percent)

1977

First quarter
Second quarter
Third quarter
Fourth quarter

7.6
7.6
7.5
7.7

13.3
13.3
13.2
13.3

76.2
75.8
75.5
75.8

6.7
6.5
6.4
6.8

1.6
1.6
1.6
1.6

7.5
7,0
7.1
7.1

13.3
13.3
13.4
13.2

76.7
75.6
75.4
75.0

6.7
6.7
6.7
6.9

1.6
1.4
1.5
1.5

7.1
6.9
6,8
7,3

12.9
13.1
13.1
13,1

75.5
75.9
75.8
76.0

6.9
6.8
6.7
6.8

1.5
1.4
1.4
1.4

9.6
9.3
9.3
8.9

6.6
6.6
6.8
7.0

7.4
7.7

13.1
13.3
13.2

76.4
77.4

6.4
6.0

1.3
1.3
pi. 3

8.6
7.5

7.3
7,7

9.4
9.9
10.4

9.6

6.1
6.2
6.2
6.2

1978

First quarter
Second quarter
Third quarter
Fourth quarter

8.7
9.9
10.0
10.2

6.3
6.3
6.4
6,5

1979

First quarter
Second quarter
Third quarter
Fourth quarter
1980

First quarter
Second quarter
Third quarter
Fourth quarter

r7.4

p76.9

p6.1

P 7.7

p8.0

NOTE: Series are seasonally adjusted except those series that appear to contain no seasonal movement. Unadjusted series are indicated by <g>. Series numbers are for identification only and
do not reflect series relationships or order. Complete titles and sources are shown at the back of the book. The "r" indicates revised; "p", preliminary; "e", estimated; "a", anticipated; and
"NA", not available.
Graphs of these series are shown on pages 46 and 47.
1

IVA> inventory valuation adjustment; CCA, capital consumption adjustment.

ItCII

NOVEMBER




1980

83

OTHER IMPORTANT ECONOMIC MEASURES
PRICES, WAGES, AND PRODUCTIVITY

jfflj PRICE MOVEMENTS
Implicit price deflator,
gross national product
Year
and
month

310. Index

(1972=100)

Fixed weighted price index,
gross business product

310c. Change 311. Index
over 1 -quarter
spans1

(Ann. rate,
percent)

(1972=100)

Consumer prices, all items

31 1c. Change 320. Index © 320c. Change
over 1-quarter
over 1-month
spans1
spans1

(Ann, rate,
percent)

(1967-100)

(Percent)

Consumer prices, food

320c. Change
over 6-month
spans1

322. Index

(Ann. rate,
percent)

(1967-100)

322c. Change
over 1 -mo nth
spans1

322c. Change
over 6-month
spans1

(Ann. rate,
percent)

(Percent)

1978

6.6

0.9
0.8
1.2

12.2
12.7
14.6

191.5
193.3
195,3

0,7
0,8
0.9

9.3
9.3
9.5

207.2
209.6
212.7

1.3
1.2
1,5

13.5
12,8

196.7
197.8
199.3

0.7
0.6
0.9

9.7
9.4
8.9

213.5
214.6
216.2

0.4
0.5
0.7

11.0
10.1

200.9
202.0
202,9

0.9
0.6
0.6

9.5
10.6
10.9

218.3
219.9
222.2

1.0
0.7
1.0

11.4
13.3
13.8

204.7
207.1
209.1

0.9
1.1
1.0

11.1
12.0
12.9

225.3
228.4
230.6

1.4
1.4
1.0

12.9
12.8
11.1

10.1

211.5
214.1
216.6

1.0
1.0
1.0

13.2
12,9
13.3

232.0
233.5
234.2

0.6
0.6
0.3

9.1
6.3
6.4

10.4

218.9
221.1
223.4

1.0
1.2

13.4
13.3
13.8

235.3
235.5
237,9

0.5
0.1
1.0

6.8
6.9
9.3

225.4
227.5
229.9

1.0
1.0
1.2

14.5
15.3
15.9

239.8
241.4
244.8

0.8
0.7
1.4

8.2
8.0
7.9

11.2

233.2
236.4
239.8

1.4
1.4
1.4

15.7
15.4
14.8

244.8
244.7
247.1

0.0
0.0
1.0

7.3
6.6
4.7

10.4

7,2

15S\4

October
November
December

200.4
202.1
204.5

242.5
244.9
247.6

0.9
0.9
1.0

11.7
10.2

248.4
249.2
250.5

0.5
0.3
0.5

247.8
249.4
251.7

0.0
0.7
1.0

9.4

252.9
257.5
261.6

1.0
1.8
1.6

253.9

1.0

263.6

0.8

152!6

15CL8

July
Auyust
September

8.1
8.5
9.2

10.5

10.6

....

0.6
0.6
0.8

148!2

147*.6

April
May
June

187.2
188.4
189.8

10.0

6.3

January
February
March

156.*7

8.8

155^2
8.7

8.7

158.*5

11. 8

9.1

1979

January
February
March

160.' 2

April
May
June

16X8

July
August
September

167!2

October
November
December

mis

9.3

162.'3
9.3

166^3
8.5

17CL4
8.4

8.4

173.*9

1.1

1980

January
February
March

174^5

April
May
June

179*. 6

July
August
September
October
November
December

9.5

17&\6
10.7

183.' i

rlO.2

r9.8

H83.*2

r!87.*6

9.3

6.7
10,7
12.1
12.6

NOTE: Series are seasonally adjusted except those series that appear to contain noseasonal movement. Unadjusted series are indicated by ©.Series numbers are for identification only and
do not reflect series relationships or order. Complete titles and sources are shown at the back of the book. The "r" indicates revised; "p", preliminary; "e", estimated; "a", anticipated; and
"NA", not available,
Graphs of these series are shown on pages 48 and 49.
Percent changes are centered within the spans: 1-quarter changes are placed on the 1st month of the 2d quarter, 1-month
changes are placed on the 2d month, and 6-month changes are placed on the 4th month.

84



NOVEMBER

1980

IICII

OTHER IMPORTANT ECONOMIC MEASURES
PRICES, WAGES, AND PRODUCTIVITY—Con.

Q PRICE MOVEMENTS-Con.
Producer prices, all commodities
Year
and
month

330. Index®

0967-100)

330c. Change
over 1 -mo nth
spans1 ©

(Percent)

Producer prices, crude materials

Producer prices, industrial commodities

330c. Change
over 6-month
spans1 @

(Ann. rate,
percent)

335. Index®

335c. Change
over 1 -month
spans1 ®

(1967=100)

(Percent)

335c. Change
over 6-month
spans1 ©

(Ann. rate,
percent)

331. Index

(1967-100)

331c. Change
over 1-month
spans1

33 1c. Change
over 6-month
spans1

(Percent)

(Ann. rate,
percent)

1978

January
February
March

200.1
202.1
203.7

1.0
1.0
0,8

10.7
11.4
11.8

201,6
202.9
204.1

0.8
0.6
0.6

7,2
8.3
8.9

221.6
224,2
229.0

1.2
1.2
2.1

24,6
19.1
21.4

April
May
June

206.5
208.0
209.6

1,4
0.7
0,8

10.9

8.6
8.7

206.1
207.4
208.7

1.0
0.6
0.6

8.6
8.6
8.4

234.5
235.6
241.3

2.4
0.5
2.4

19.9
17.0
16.1

July
August
September

210.7
210.6
212.4

0.5
0.0
0.9

8.3
7.5
7.7

210.1
211.4
212.5

0.7
0.6
0.5

8.5
8.5
8.3

242.6
242.5
246.8

0.5
0.0
1.8

16.6
17.4
13.7

October
November
December

214.9
215.7
217.5

1.2
0.4
0.8

9.8

214.7
216.0
217.2

1.0
0.6
0,6

9.6

13.2
13.9

10.8
12.5

253.2
255.3
257.3

2.6
0.8
0.8

17.2
23.1
23.4

January
February
March

220,8
224.1
226.7

1.5
1.5
1.2

14.5
15.7
15.3

220.0
222.5
225.4

1.3
1.1
1.3

13.8
15.0
16.1

262.6
269.1
274.2

2.1
2,5
1.9

16.4
16.1
17.1

April
May
June

230.0
232.0
233.5

1.5
0.9
0.6

15.1
13.1
14.0

229.0
231.6
234.0

1.6
1.1
1.0

16.5
16.9
17.4

273.2
275.1
278.4

July
.. .
August
September

236.9
238.3
242.0

1.5
0.6
1.6

14.0
13.5
14.4

237.5
240.6
244.2

1.5
1.3
1.5

18.2
17.1

October
November
December

245.6
247,2
249.7

1.5
0.7
1.0

15.8
19.2
17.1

249.0
250.6
253.1

254.9
260.2
261.9

2.1
2.1
0.7

14.5
14.2
H3.1

262.8
264.2
r265.6

0.3
0.5

12.0
10.2

1979

0.7
1.2

17.5
12.3
12.9

.17.0

284.6
285.2
291,4

2.2
0.2
2.2

16.2
17.7
17.4

2.0
0.6
1.0

20.4
22.1
21.0

294.5
298.4
301.7

1.1
1.3
1.1

10.7
16.2

260.6
265.9
268.6

3.0
2.0
1.0

18.7
17.7

299.5
307.5
300.9

271.3
271.9
r273.5

1.0
0.2

-0.4

6.6

1980

January
February
March
April
May
June

.

.

rO.5

9.5
11.1

July
August
September

269.8
273.1
274.1

rl.6

1.2
0.4

275.6
277.3
278.2

October
November
December

277.0

1.1

281.2

r!6.8
11.8

rO.6

8.8
7.3

rO.8

7.4

290.4
294.1
r295.2

-0,7

2.7
-2.1
-3.5

1.3

-2.8
-2.9
-4.3

9.6

rO.4

16.3
24.5
38.9

313.6
331.6
335.8

r6.2

0.6
0.3
1.1

342.3

1.9

5.7
1.3

NOTE: Series are seasonally adjusted except those series that appear to contain noseasonal movement. Unadjusted series are indicated by ®. Series numbers are for identification only and
do not reflect series relationships or order. Complete titles and sources are shown at the back of the book. The "r" indicates revised; "p", preliminary; "e", estimated; "a", anticipated; and
"NA", not available.
Graphs of these series are shown on page 48.
1
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.

NOVEMBER




1980

85

OTHER IMPORTANT ECONOMIC MEASURES
PRICES, WAGES, AND PRODUCTIVITY—Con.

^Mj PRICE MQVEMENTS-Con.
Producer prices, intermediate materials
Year
and
month

332. Index

(1967-100)

332c. Change
over 1 -month
spans1

(Percent)

Producer prices, finished consumer goods

Producer prices, capital equipment

332c. Change
over 6-month
spans1

(Ann. rate,
percent)

333. Index

(1967=100)

333c. Change
over 1 -month
spans1

(Percent)

333c. Change
over 6-month
spans1

(Ann. rate,
percent)

334. Index

334c. Change
over 6- month
spans1

334c. Change
over 1 -month
spans1

{Ann. rate,
percent)

(Percent)

(1967-100)

1978

January
February
March

208.2
209.7
210.9

0.8
0.7
0.6

7.6
7.5
7.9

192.2
193.3
194.5

0.6
0.6
0.6

7.7
7.6
8.1

184.5
"186.1
187.2

0.6
0.9
0.6

April
May
June

211.9
213.1
214,5

0.5
0.6
0.7

6.7
6.9
7.1

195.6
197.0
198.6

0.6
0.7
0.8

8.4
8.4
8.4

189.5
190.8
192.2

1.2
0.7
0.7

July
August
September .....

215.1
216.8
218.3

0.3
0.8
0.7

8.6
9.3
9.3

200.1
201.3
202.5

0.8
0.6
0.6

7.7
8.4
8.0

193.7
194.3
195,7

0.8
0.3
0.7

October
November
December

220,8
222.8
224.3

1,1
0.9
0.7

11.3
11.8
12.6

203.0
205.1
206.4

0.2
1.0
0.6

8.6
9.1
9.2

197.5
198.6
201.1

0.9
0.6
1,3

10.6
12.5
13.4

January
February
March

226.9
229.2
231.6

1.2
1.0
1.0

13.3
13.4
14.2

208.5
210.3
211.6

1.0
0.9
0.6

9.9
9.9

203.7
206.1
208.4

1.3
1.2
1.1

12.7
12.7
11.1

April
May
June

235.0
237.3
239.7

1.5
1.0
1.0

15.3
16.2
17.2

214.0
215.0
216.4

1.1
0.5
0.7

9.5
7.4
7.6

209.7
210.8
212,0

0,6
0.5
0.6

11.2
12.2
13.7

July
. ...
August
September , . .

243.6
247.1
250,7

1.6
1.4
1.5

17.7
17.6
17.8

218.2
217.9
219.5

0.8

7.0
7.5
7.9

214.8
218.3
222.2

1.3
1.6
1.8

14,9
16.9
17.6

October
November
December

255.0
257.3
260,2

1.7
0.9
1.1

20.4
21.7
19.4

221.4
222.9
224.8

0.9
0.7
0.9

9.6

224.8
227.9
229.9

1.2
1.4
0.9

18,3
18.5
18.0

267.3
272.6
273.9

2.7
2.0
0.5

15.7
14.6

1.6
0.7
0.9

r!2.4

233.6
237.6
241.4

1.6
1.7
1.6

15.6
13.3

r!3.8

228.4
230.0
232.0

r!2.9

274.3
275.4
r277.6

0.1
0.4

236.2
236.6
r238.3

1.8
0.2

11.6
12.1

241.7
242,6
r244.3

0.1
0.4

12.9
13.1

rO.8

9.2
7.1
7.3
8.9

9.3
9,2
9.8
10.2

9.0
9.3
8.6
8,3
9.5

1979

-0.1

0.7

11.1

11.4
11.7

1980

January
February ......
March
April
May

June
July
August
vSeptember . . .

279.3
282.1
283.7

rO.6

1,0
0.7

241.3
243.5
243.2

October
November
December ... .

286.3

0.9

246.6

rO.7

1.3
0.9
-0.1

1.4

13.8
12.7

9.9
9.0

248.2
252.7
252.3
253.8

9.2

rO.7

10,3

rl.6

1,8
-0,2

0.6

NOTE: Series are seasonally adjusted except those series that appear to contain noseasonal movement. Unadjusted seriesare indicated by (3). Series numbers are for identification only and
do not reflect series relationships or order. Complete titles and sources are shown at the back of the book. The "r" indicates revised; "p", preliminary; "e", estimated; "a", anticipated; and
"NA", not available.
Graphs of these series are shown on page 48.

Percent changes are centered within the spans:
the 4th month.

86



1-month changes are placed on the 2d month and 6-month changes are placed on

NOVEMBER

1980

OTHER IMPORTANT ECONOMIC MEASURES
PRICES, WAGES, AND PRODUCTIVITY—Con.

M WAGES AND PRODUCTIVITY
|
Average hourly compensation, all employees,
nonfarm business sector

Average hourly earnings, production workers, private nonfarm economy, adjusted 1
Year
and
month

Real earnings

Current dollar earnings
340. Index

(1967=100)

340c. Change
over 1-month
spans2
(Percent)

340c. Change
over 6-month
spans2
(Ann. rate,
percent)

341. Index

(1967=100)

34 1c. Change
over 1 -month
spans2
(Percent)

Current dollar compensation
341c. Change
over 6-month
spans2
(Ann. rate,
percent)

345. Index

(1967=100)

345c. Change
over 1-quarter
spans2
(Ann. rate,
percent)

345c. Change
over4-quarter
spans2
(Ann. rate,
percent)

1978

January
February
March

. ...

205.8
206.5
208.1

1.1
0.3
0.8

8.5
8.6
9.0

109.6
109.3
109.4

April
May
June

209.9
211.1
212.5

0.9
0.6
0.7

8,1
8.4
8.3

109.6
109.3
109.1

-0.3
-0.2

July
August
September

214.0
215.0
216.6

0.7
0.5
0.7

8.1
8.0
8.2

109.1
109.0
108.9

-0.1
-0.1

October
November . .
December

218.3
219.4
221.0

0.8
0.5
0.7

8.2
8,5
8.2

108,7
108.6
108.6

-0,2
-0.1

222.6
224.0
225.2

0.7
0.6
0.5

7.8
7,6
7.5

108.4
107.8
107.3

226.7
227.6
229.2

0.7
0.4
0.7

7.5
7.6
8.2

July
August .
September

230.8
232.3
234.3

0.7
0.6
0.9

October
November
December

235.0
237.3
239.4

January
February
March
April
May
June

0.5
-0.3

0.1
0.2

0.6
0.3
0.0

11.4
226! 5

&\4
7.3

-0.9
-0.7
-1.0

224!4

-1.5
-1.3
-0.9

228^9

-1.4
-2.1
-2.9

233^7

-0.2
-0.6
-0.5

-3.3
-4.2
-4.9

239^5

106.9
106.3
105.9

-0.4
-0.6
-0.4

-5.2
-4.9
-4.5

244^2

7.5
8.8
9.1

105.5
105.2
104.9

-0.4
-0.3
-0.3

-5.1
-4,0
-4.0

249 ,*2

0.3
1.0
0.9

8.4
8.9
9.6

104.2
104.1
103.8

-0.7
-0.1
-0.3

-5.3
-5.5
-5.5

25^6

240.3
242.4
245.2

0.4
0.9
1.2

9.8
9.4
9.8

102.7
102.2
102.0

-1.1
-0.5
-0.2

-5.2
-5.2
-4.4

261 ".1

246.2
248.3
250.9

0.4
0.9
1.0

10.0
r9.8
r8.2

101.4
101.4
101.5

-0.6

0.5

P 9.1

r-0.6
p-0.1

0.0

0.0

&\9
8.4
B.6
8.6
s'.B

1979

January . „
February
March
April
May
June

,

10.2

&\9
8.1
&\9
8.5
9^6
9.0
9^7

1980

July
August
September

252.1
r254.0
r255.1

rO.8

0.4

102.0
rl02.0
H01.4

October . .
November
December

p257.2

pO.8

pi 01. 3

10.5

-1.4

0.0
0.1

r-0.3
r-1.0

0.5

11.0

p-0.3

rO.O

r9.*8

268 ! 6
r8.9

r273,7

NOTE: Series are seasonally adjusted except those series that appear to contain noseasonal movement. Unadjusted seriesare indicated by (u). Series numbers are for identification only and
do not reflect series relationships or order. Complete titles and sources are shown at the back of the book. The "r" indicates revised; "p", preliminary; "e", estimated; "a", anticipated; and
"NA", not available.
Graphs of these series are shown on pages 49 and 50.
'Adjusted for overtime (in manufacturing only) and interindustry employment shifts.
2
Percent changes are centered within the spans: 1-month changes are placed on the 2d month, 6-month changes are placed on the
4th month, 1-quarter changes are placed on the 1st month of the 2d quarter, and 4-quarter changes are placed on the middle month
of the 3d quarter.

NOVEMBER 1980



87

OTHER IMPORTANT ECONOMIC MEASURES
PRICES, WAGES, AND PRODUCTIVITY—Con.

^9 WAGES AND PRODUCTIVITY-Con.
Average hourly compensation, all employees,
nonfarm business sector-Con.
Year
and
month

Real compensation
346. Index

(1967-100)

346c. Change
over 1 -quarter
spans1
(Ann. rate,
percent)

346c. Change
over4-quarter
spans1
(Ann. rate,
percent)

Negotiated wage and benefit
decisions, all industries©
348. First year 349. Average
average changes changes over
life of
contract
(Ann, rate,
percent)

(Ann. rate,
percent)

Output per hour, all persons, private
business sector
370. Index

(1967-100)

370c. Change
over 1-quarter
spans1

(Ann. rate,
percent)

37Qc. Change
over 4-quarter
spans'

358. Index of
output per hour,
all persons,
nonfarm
business sector

(Ann, rate,
percent)

0967MQO)

1978

January
February
March

neie

April
May
June

. .

neio

July
August
September

mis

October
November
December

lisle

3.4

13.2

8.2

CL4

6.8

-2.0

-i!i

6!l

7.2

2.1

5.9

119i7
5.2

0.3

1191s

-Y.7

116.*2

6!?

116^7

6!s

117^4

-6!?

117^6

-i!e

116.6

-i!?

ns.'i

-i.'o

115.*6

-\'.2

119*.!

6.1

-0.8

-1.5

1.9

6.0

616

-0.7

mis

115^2

r-o.'a

ni!9

1979

January
February
March

115.'3

April
May
June

114.'i

July
August
September

11^9

October
November
December

ni!7

2.8

-0.9

5.3

-2.6
-4.2

10.5

7.8

-3.*4

9.0

-4.3

-4j

nsia

-3.1

-2.0

-1.4

6.1

117.'8

-4.*5

-4.0

nsig

8.5

-0.3

6.0

mi?

1980

January
February
March

n6!i

April

p6.4

plO.l

p6.8

r-2.*6

-2.4

May

p8.6

-5.5

109.'5

October
November
December

riog.'g

-0.3

-2.7

116.*8

June
July
August
September

117!?

rl.6

pll.6

P 7.3

riie.'g

113.8
rO.3

r!14.*3

....

NOTE: Series are seasonally adjusted except those series that appear to contain noseasonal movement. Unadjusteds
d series are indicated by ©. Series numbers are far identification only and
do not reflect series relationships or order. Complete titles and sources are shown at the back of the book. The "r" ii
' indicates revised; "p", preliminary; "e", estimated; "a", anticipated; and
"NA", not available.
Graphs of these series are shown on pages 49 and 50.
^Percent changes are centered within the spans: 1-quarter changes are placed on the 1st month of the 2d quarter and 4-quarter
changes are placed on the middle month of the 3d quarter.




NOVEMBER 1980

OTHER IMPORTANT ECONOMIC MEASURES
LABOR FORCE, EMPLOYMENT, AND UNEMPLOYMENT

^^ CIVILIAN LABOR FORCE AND MAJOR COMPONENTS
Civilian labor force
Year
and
month

441. Total

442. Em-

ployed

(Thous.)

(Thous.)

Labor force participation rates
451. Males
20 years
and over

452. Females 453. Both
20 years
sexes, 16-19
years of age
and over

(Percent)

(Percent)

(Percent)

448. Num-

Number unemployed
37. Total

(Thous.)

444. Males
445. Females 446. Both
20 years and 20 years and sexes, 16-19
over
over
years of age

(Thous.)

(Thous.)

(Thous.)

447. Fulltime
workers

(Thous.)

ber employed
part-time
for economic
reasons

(Thous.)

1978

99,118
99,009
99,281

92,813
92,921
93,128

79.8
79.7
79.8

48.9
48.8
49.0

57.1
56.8
56.8

6,305
6,088
6,153

2,437
2,361
2,379

2,314
2,126
2,171

1,554
1,601
1,603

4,948
4,812
4,799

3,071
3,227
3,204

April
May
June

99,819
100,242
100,458

93,763
94,116
94,556

79.8
79.9
79.8

49.4
49.5
49.6

57.3
58.3
58.3

6,056
6,126
5,902

2,274
2,278
2,171

2,219
2,295
2,275

1,563
1,553
1,456

4,644
4,802
4,581

3,281
3,226
3,329

July
August
September

100,656
100,731
100,944

94,428
94,802
94,973

79.7
79.7
79.6

49.8
49.6
50.0

58.6
59.1
58.3

6,228
5,929
5,971

2,190
2,177
2,180

2,425
2,219
2,241

1,613
1,533
1,550

4,887
4,612
4,647

3,266
3,256
3,248

October
November
December

101,189
101,610
101,815

95,401
95,728
95,831

79.6
79.9
80.0

50.0
50.1
50.1

58.6
58.5
58.5

5,788
5,882
5,984

2,139
2,110
2,198

2,107
2,215
2,212

1,542
1,557
1,574

4,475
4,491
4,609

3,231
3,163
3,082

January
February
March

102,061
102,379
102,505

96,157
96,496
96,623

80.0
80.1
79.9

50.1
50.3
50.4

58.9
58.8
58.6

5,904
5,883
5,882

2,167
2,138
2,164

2,195
2,202
2,212

1,542
1,543
1,506

4,514
4,565
4,539

3,203
3,176
3,211

April
May
June

102,198
102,398
102,476

96,254
96,495
96,652

79.8
79.7
79.7

50.2
50.4
50.3

58.2
57.9
57.7

5,944
5,903
5,824

2,190
2,130
2,169

2,199
2,208
2,196

1,555
1,565
1,459

4,637
4,533
4,515

3,279
3,283
3,284

July
August
September

103,093
103,128
103,494

97,184
97,004
97,504

79.9
79.8
79.9

50.8
51.0
50.9

57.9
56.3
58.2

5,909
6,124
5,990

2,254
2,286
2,282

2,160
2,304
2,164

1,495
1,534
1,544

4,617
4,727
4,715

3,274
3,298
3,167

October
November
December

103,595
103,652
103,999

97,474
97,608
97,912

79.7
79.5
79.5

50.9
50.9
51.1

57.9
58.1
58.6

6,121
6,044
6,087

2,317
2,335
2,303

2,250
2,197
2,257

1,554
1,512
1,527

4,796
4,770
4,791

3,315
3,392
3,519

104,229
104,260
104,094

97,804
97,953
97,656

79.4
79.6
79.4

51.4
51.3
51.0

58.2
57.4
57.3

6,425
6,307
6,438

2,577
2,507
2,696

2,304
2,254
2,255

1,545
1,547
1,487

5,046
4,942
5,168

3,513
3,406
3,418

104,419
105,142
104,542

97,154
96,988
96,537

79.5
79.9
79.4

51.5
51.5
51.3

56.3
57.9
56.5

7,265
8,154
8,006

3,246
3,671
3,710

2,534
2,670
2,596

1,485
1,813
1 ,700

5,875
6,740
6,621

3,816
4,349
3,999

July
August
September

105,203
105,025
105,034

96,996
97,006
97,207

79,5
79.5
79.5

51.6
51.7
51.3

57.4
55.2
56.7

8,207
8,019
7,827

3,730
3,682
3,744

2,702
2,628
2,473

1,774
1,709
1,610

6,781
6,600
6,530

4,113
4,148
4,204

October
November
December

105,180

97,176

79.3

51.4

56.8

8,005

3,541

2,771

1,693

6,553

4,261

January
February
March

1979

1980

January
February
March
April
May
June

. . . .

NOTE: Series are seasonally adjusted except those series that appear to contain noseasonal movement. Unadjusted series are indicated by @. Series numbers are for identification only and
do not reflect series relationships or order. Complete titles and sources are shown at the back of the^book. The "r" indicates revised; "p", preliminary; "e", estimated; "a", anticipated; and
"NA", not available.
Graphs of these series are shown on page 51.

NOVEMBER 1980



89

OTHER IMPORTANT ECONOMIC MEASURES
GOVERNMENT ACTIVITIES

[J RECEIPTS AND EXPENDITURES
Federal Government'
Year
and
month

l^j DEFENSE INDICATORS
Advance; measures of defense activity

State and local governments'

500. Surplus
or deficit

501. Receipts

502. Expenditures

510. Surplus
or deficit

511. Receipts

512. Expenditures

(Ann. rate,
bit. dol.}

(Ann. rate,
bit, dol.)

(Ann. rate,
bil. dol.)

(Ann. rate,
bit. dol.)

(Ann. rate,
bil. dol.)

(Ann. rate,
bil. dol.)

517. Defense
Department
gross obligations incurred

(Mil. dol.)

525. Defense
Department
m Hilary prime
contract awards

(Mil. dol.)

543, Defense
Department
gross unpaid
obligations
outstanding

548. Value of
manufacturers'
new orders,
defense products

(Mil. dol.)

(Mil. dol.)

1978

January
February
March

-49^4

397!8

447^3

30 .*2

319!6

288^8

10,537
10,659
10,155

4,853
4,741
4,909

57,304
58,401
58,986

2,735
2,529
4,393

April
May
June

-24*.6

424^8

449^4

29^6

330^5

301 !6

10,242
10,793
10,094

4,970
6,?04
7,081

59,348
60,723
60,549

3,761
3,946
3,237

July
August
September

-26!4

442 J

462^6

22^7

331^8

309 '.1

10,327
10,278
10,256

3,928
4,924
4,855

61,833
62,028
62,730

2,157
3,214
3,279

October
November ,
December

-ie!3

463^5

479 '.7

27J

342^6

315^5

10,214
10,484
10,282

4,343
6,509
4,568

63,006
63,440
64,470

3 S 867
4,381
4,101

-li!?

475.'6

486^8

27^6

343^9

316L3

10,787
10,250
11,741

5,706
4,773
5,763

65,120
48,267
67,128

2,684
3,871
3,102

-7!6

485^8

492^9

19!7

345^9

326J

9,297
10,935
10,926

4,936
4,720
5,117

68,883
68,468
68,976

3,181
3,640
2,464

-1K3

504^8

5ie!i

25.3

359 '.8

334^5

12,657
11,052
11,965

6,135
5,282
6,364

70,252
81,542
71,886

2,332
3,029
4,237

-15.*7

524.'7

540 .*4

25.*8

368^7

342.* 9

11,679
10,730
11,565

4,318
5,670
5,489

64,325
68,634
68,525

3,048
4,033
3,787

January ,
February
March

-22.9

538.4

561.3

24.6

375.3

350.6

12,563
12,419
14,757

5,515
7,152
5,781

70,088
68,497
72,961

3,352
3,680
4,594

April
May
June

-49 .*2*

529*9

579 *i

19.*5

373^2

353!6

13,639
14,206
12,193

7,572
7,483
7,184

73,766
74,848
75,204

4,948
5,279
3,546

p-58!4

p550.'b

r608'.4

p23^9

P384.4

r360.4

12,973
14,310

6,768
7,633

76,366
76,506

4,366
r4,515
r6,458

1979

January
February
Morch
April
May
Jun@
July
August
September
October
November
December

.....

1980

July
August
September

(NA)

(NA)

(NA)

October
November
December

p3,881

NOTE: Series are seasonally adjusted except those series that appear to contain no seasonal movement. Unadjusted series are indicated by <g). Series numbers are for identification onty and
do not reflect series relationships or order. Complete titles and sources are shown at the back of the book. The "r" indicates revised; "p", preliminary; "e", estimated; "a", anticipated; and
"NA", not available.
Graphs of these series are shown on pages 52 and 53.
1

Based on national income and product accounts.

90



NOVEMBER 1980

KCII

OTHER IMPORTANT ECONOMIC MEASURES
GOVERNMENT ACTIVITIES—Con.

JQ DEFENSE INDICATORS— Con.
National defense
purchases

Intermediate and final measures of defense activity
Year
and
month

557. Output of 559. Manufacturers' invendefense and
space equipment tories, defense
products

(1967=100)

(Mil. dol.)

561. Manufacturers' unfilled
orders, defense
products

580. Defense
Department
net outlays

588. Manufacturers' shipments, defense
products

(Mil. dol.)

(Mil. dol.}

(Mil. dol.)

570. EmployDefense Department
ment in defense
personnel
products
industries
577. Military, 578. Civilian,
active duty© direct hire
employment ®
(Thous.)

(Thous.}

(Thous.)

564. Federal
purchases of
goods and
services

565. Federal
purchases as
a percent of
6NP

(Ann. rate,
bil. dol,)

(Percent)

1978

January
February
March

82.6
80.8
83.9

6,441
6,606
6,626

34,633
34,511
36,108

8,493
8,271
8,375

2,532
2,652
2,795

1,120
1,125
1,138

2,065
2,062
2,058

982
982
982

April
May
June

84.9
84.9
85.6

6,736
6,828
6,804

37,150
38,382
38,914

9,056
8,217
9,072

2,719
2,714
2,705

1,143
1,162
1,173

2,054
2,046
2,057

July
August
September

87.5
87.9
89.0

6,901
6,896
6,905

38,467
38,993
39,499

8,394
9,638
8,592

2,604
2,688
2,773

1,184
1,193
1,195

89.3
90.3
91.4

7,013
7,004
7,170

40,660
42,293
43,563

9,026
8,762
9,407

2,706
2,748
2,832

January
February
March

92.3
92.4
93.0

7,397
7,485
7,586

43,409
44,515
44,588

9,645
9,452
9,525

April
May
June

92.1
92.4
92.2

7,573
7,806
7,953

44,854
45,670
45,138

July
August
September

92.9
91.9
93.8

8,048
8,178
8,553

October
November
December

95.4
96.4
96.7

January
February
March
April
May
June

97^6

4!9

982
988
1,000

98\2

4^7

2,062
2,062
2,062

1,002
994
980

99!6

4^6

1,207
1,219
1,236

2,058
2,050
2,041

981
981
978

10K2

4^5

2,838
2,765
3,029

1,242
1,262
1,278

2,040
2,030
2,026

972
971
968

losii

i!5

9,299
9,781
9,425

2,915
2,824
2,996

1,283
1,289
1,299

2,022
2,018
2,024

968
972
979

106.'6

i!5

44,656
44,697
46,000

10,499
10,103
9,982

2,814
2,988
2,934

1,310
1,312
1,324

2,027
2,024
2,027

982
974
960

io9!6

i!s

8,871
9,275
9,462

46,010
46,893
47,492

9,982
10,206
11,182

3,038
3,150
3,188

1,336
1,349
1,356

2,030
2,029
2,020

964
967
967

114.6

4.7

97.0
97.2
97.1

9,592
9,619
10,075

47,769
48,196
49,401

11,341
10,632
11,235

3,076
3,253
3,389

1,359
1,366
1,377

2,029
2,032
2,033

964
965
966

iiaie

4.'?

97.6
97.2
96.8

10,277
10,451
10,588

51,061
52,902
53,011

11,356
11,061
11,480

3,286
3,440
3,435

1,373
1,375
1,373

2,028
2,031
2,034

969
975
988

124J

4J9

July
August
September

97.2
r97.0
r97.9

10,908
11,177
11,310

53,922
r55,112
r57,771

11,303
11,135
pi 1,567

3,453
3,324
r3,798

1,371
1,379
pi, 384

2,044
2,049

990
973

129.'l

5.'6

October
November
December

p99.0

(NA)

p57,921

. .

October
November
December
1979

1980

(NA)

p3,731

(NA)

(NA)

(NA)

NOTE: Series are seasonally adjusted except those series that appear to contain noseasonal movement. Unadjusted series are indicated by ©.Series numbers are for identification only and
do not reflect series relationships or order. Complete titles and sources are shown at the back of the book. The "r" indicates revised; "p", preliminary; "e", estimated; "a", anticipated; and
"NA", not available.
Graphs of these series are shown on pages 54 and 55.

NOVEMBER 1980




91

OTHER IMPORTANT ECONOMIC MEASURES
U.S. INTERNATIONAL TRANSACTIONS

jQj MERCHANDISE TRADE

Year
and
month

602. Exports, excluding
military aid shipments,
total

(Mil.dol.)

604. Exports of agricultural products

(Mil.dol,)

606. Exports of nonelectrical machinery

612. General imports,
total

{Mil.dol.}

(Mil.dol.)

614. Imports of
petroleum and
petroleum products

616. Imports of
automobiles and parts

(Mil.dol.)

(Mil.dol.)

1978

January
February
March

9,863
9,938
11,143

1,818
2,058
2,363

2,084
2,187
2,450

13,103
14,221
14,005

3,000
3,626
3,094

1,529
1,661
1,581

April
May
Juno

11,628
11,776
12,264

2,428
2,861
2,904

2,415
2,472
2,427

14,491
14,012
13,970

3,162
3,038
3,229

1,715
1,659
1,684

July
August
September

11,656
12,286
13,275

2,392
2,774
2,512

2,451
2,528
2,815

14,543
14,130
14,821

3,194
3,257
3,307

1,812
1,666
1,822

October
November
December

12,901
13,448
13,282

2,596
2,533
2,555

2,625
2,718
2,824

14,852
14,818
15,028

3,347
3,489
3,588

1,872
1,875
1 ,822

January
February
March

13,265
13,616
14,297

2,338
2,424
2,682

2,682
2,832
2,917

16,528
14,605
15,358

3,580
3,634
3,667

1,963
1,706
1,589

April
May
June

13,979
14,083
14,817

2,547
2,450
2,909

2,706
2,859
3,034

15,841
16,438
16,835

3,832
4,000
4,199

1,956
1,851
1,730

July .
August
September

15,691
15,713
15,822

3,103
3,141
3,059

3,022
3,241
3,153

16,806
18,277
18,407

4,692
4,949
5,662

1 S B15
2,113
1,849

October . .
November
December

16,680
16,928
16,742

3,254
3,415
3,434

3,251
3,172
3,240

19,037
18,548
19,665

6,050
5,351
6,502

1 8 805
1,984
1,871

January
February
March

17,348
17 9 233
18,534

3,439
3,520
3,331

3,297
3,454
3,423

20,945
21,640
20,607

5,614
7,741
6,991

1,899
2,035
1,960

April
May .
June

18,468
17,678
18,642

3,285
3,083
3,024

3,571
3,620
3,943

19,308
20,528
19,893

5,185
7,191
6,611

1,710
1,999
1,843

July
August
September

18,075
19,103
18,701

3,300
3,682
3,648

3,985
4,230
4,027

18,995
19,236
19,465

5,153
6,018
4,982

2,103
2,139
2,270

(NA)

(NA)

(NA)

(NA)

1979

1980

October
November
December

(NA)

(NA)

NOTE: Series are seasonally adjusted except those series that appear to contain noseasonal movement. Unadjusted seriesare indicated by ©, Series numbers are for identification only and
do not reflect series relationships or order. Complete titles and sources are shown at the back of the book. The "r" indicates revised; "p", preliminary; "e", estimated; "a", anticipated; and
"NA", not available.
Graphs of these series are shown on page 56.

92



NOVEMBER

1980

OTHER IMPORTANT ECONOMIC MEASURES
U.S. INTERNATIONAL TRANSACTIONS-Con.

^9 GOODS AND SERVICES M O V E M E N T S f E X C L DOING TRANSFEF SUNDER MILITA =IY GRANTS)

rMerchandise, adjustec 1

Goods and services
Year
and
month

668. Exports

667. Balance

(Mil. dol.)

(Mil. dot.)

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 U.S.

(Mil, dol.)

1978

January
February
March

-4,969

49,319

54,288

-11,141

30,922

42,063

9,607

4,539

-2,795

54,156

56,951

-8,295

35,404

43,699

9,957

5,474

-1 ,933

56,432

58,365

-7,508

36,828

44,336

10,557

5,717

493

61 131

60,638

-6,815

38,900

45,715

12,851

6,343

2,732

65,667

62,935

-5,114

41,805

46,919

14,263

7,225

11 n

fi7 7fi*}

67 873

-8 070

42 815

50 885

15 250

7 gso

Cf]C

74 770

79

967

7 nfin

LI IQft

54 258

18 050

8 731

-250

78 305

78 555

-9 225

50 237

59 462

18 407

9,524

-823

85,647

86,470

r-10,850

54,708

r65,558

20,846

10,752

p-1 258

p81 522

p82 780

r-7 555

54 710

r62 265

p!6 772

plO 417

(NA1

fNAl

o 70c

nRfi /LI Q

(u&}
\nn}

/win
\ N"J

April

May
June
July
August
September
October
November
December
1979

January
February
March
April

May
June
July
August .
September

0

October
November
December
1980

January
February
March
April
May
June
July
August
September

.. .

(NAl

P

n cq

-\AC

October
November
December

NOTE: Series are seasonally adjusted except those series that appear to contain noseasonal movement. Unadjusted seriesare indicated by (g). Series numbers are for identification only and
do not reflect series relationships or order. Complete titles and sources are shown at the back of the book. The "r" indicates revised; "p", preliminary; "e", estimated; "a", anticipated; and
"NA", not available.
Graphs of these series are shown on page 57.
1
Balance of payments basis: Excludes transfers under military grants and Department of Defense sales contracts (exports) and
Department of Defense purchases (imports).

ItO

NOVEMBER 1980




93

OTHER IMPORTANT ECONOMIC MEASURES
INTERNATIONAL

COMPARISONS

Q| INDUSTRIAL PRODUCTION

Year
and
month

47. United States, 721.0ECD 1
index of indusEuropean countrial production tries, index of
industrial
production

(1967-100)

(1967-100)

728. Japan,
index of industrial production

725. West
Germany, index
of industrial
production

(1967=100)

(1967=100)

726. France,
index of industrial production

(1967=100)

722. United
Kingdom, index
of industrial
production

(1967-100)

727. Italy, index
of industrial
production

(1967-100)

723. Canada,
index of Indus*
trial production

(1967=100)

1978
January ,
February
March

140.0
140.3
142.1

153
152
150

196.9
197.0
199.5

157
152
152

152
152
155

123
124
123

143.8
146.1
145.9

150.0
151.8
152.2

April
May
Jung

144.4
144.8
146.1

153
152
153

200.5
201.5
201,8

153
152
154

161
157
152

128
126
128

143.5
143.8
145.3

154.3
151.8
154.8

July
August
September

147.1
148.0
148.6

153
152
154

201.8
204.1
206.0

157
156
159

155
155
157

128
128
128

144.4
143.7
146,2

154.1
154.0
158.8

October
November ....
December .

149.7
150.6
151.8

157
157
158

206.9
207.6
210.1

159
159
159

157
159
161

125
126
129

154.3
154.7
151.9

158.3
158.8
161.8

152.0
152.5
153.5

154
156
157

210.2
213.1
213.1

159
157
161

158
159
161

122
132
133

152,8
160.0
156,0

160.8
161.0
162.0

151.1
152.7
153.0

158
158
158

214.4
218.2
218.5

161
164
164

159
163
163

132
134
136

156.7
151.9
145.1

160.3
162.1
160,6

July
August
September

153.0
152.1
152.7

163
158
161

221.2
221.8
220.5

168
164
164

168
168
165

134
130
128

150.4
150.1
159.4

163.1
163.3
165,4

October
November ....
December

152.7
152.3
152.5

163
163
163

225.0
228.1
228.4

166
167
167

161
163
165

r!30
132
130

166.8
167.3
164.7

164.7
163.7
160.8

January
February
March

152.7
152.6
152.1

164
r!65
r!65

230.9
243.3
235.0

168
170
170

165
166
166

130
128
H26

H68.6
H75.8
r!74.2

160.9
161.2
164.2

April
May
June

148.3
144.0
141.5

r!64
r!58
H60

238.8
236.4
234.0

168
164
163

166
159
r!59

>123
r!22
r!23

175.5
161.5
H66.1

160.6
157.3
H55.9

July
August
September

H40.4
H41.8
r!43.7

(NA)

235.0
P225.3
(NA)

H64
pi 61
(NA)

163
pi 63
(NA)

r!23
pi 20
(NA)

r!64.2
p!42.4
(NA)

rlSS.6
157.5
pl60.3

October
November
December ....

P146.0

1979
January
February
March
April
May
June

,. .

1980

(NA)

NOTE: Series are seasonally adjusted except those series that appear to contain noseasonal movement. Unadjusted seriesare indicated by ®. Series numbers are for identification only and
do not reflect series relationships or order. Complete titles and sources are shown at the back of the book. The "r" indicates revised; "p", preliminary; "e", estimated; "a", anticipated; and
"NA", not available.
Graphs of these series are shown on page 58.

Organization for Economic Cooperation and Development.

94



NOVEMBER 1980

OTHER IMPORTANT ECONOMIC MEASURES
F I

INTERNATIONAL COMPARISONS—Con.

^9 CONSUMER PRICES
United States
Year
and
month

Japan

West Germany

France

United Kingdom

320. Index® 320c. Change
over 6-month
spans1

738. Index® 738c. Change
over 6-month
spans1

735. Index® 735c. Change
over 6-month
spans1

736. Index® 736c. Change
over 6-month
spans1

732. Index® 732c. Change
over 6-month
spans1

(1967-100)

(Ann. rate,
percent)

(1967=100)

(Ann. rate,
percent)

(1967=100)

(Ann. rate,
percent)

(1967-100)

(Ann. rate,
percent)

(1967-100)

(Ann. rate,
percent)

January
February
March

187.2
188.4
189.8

8.1
8.5
9.2

246.1
247.1
249.4

3.0
3.9
4.1

158.3
159.1
159.5

2.4
2.4
2.5

222.8
224.4
226.4

8.4
9.3
9.9

304.4
306.2
308.1

6,7
6.5
6,8

April
May
June

191.5
193.3
195.3

9.3
9.3
9.5

252.1
253.5
252.1

5.4
5.9
3.6

160.0
160.3
160.8

2.8
2.2
1.9

228.9
231 .1
232.8

11 .7
11 .2

312.6
314.4
316.8

8.4
9.0
8.5

July
August
September

196.7
197.8
199.3

9.7
9.4
8.9

253.1
253.3
256.4

3.6
3.1
2.9

160.5
160.3
160.2

2.1
2.4
2.5

235.7
237.1
238.6

10.2

318.2
320.3
321.6

8.8
9.4
9.8

October
November
December

200.9
202.0
202.9

9.5

256.8
254.1
253.7

1.2

10.6
10.9

0.9

160.3
160.8
161.4

3.0
3.5
4.3

240.8
242.1
243.2

10.4

January
February
March

204.7
207.1
209.1

11.1
12.0
12.9

253.9
253.1
255.1

1.8
3.1
4.6

162.9
163.6
164.4

4.4
4.3
4.7

245.5
247.1
249.4

10.4
10.9

April

13.2
12.9
13.3

258.6
261.3
261.5

7.3
7.0
5.3

165.3
165.7
166,6

6.0
5.8
5.8

251.8
254.5
256.6

11 .9

June

211.5
214.1
216.6

July
August . .
September

218.9
221.1
223.4

13.4
13.3
13.8

263.8
261.1
264.4

6.7
6.9
6.9

167.7
167.8
168.3

6.0
6.4
6.1

October
November
December

225.4
227.5
229.9

14.5
15.3
15,9

267.7
266.7
268.3

6.0
8.9

168.7
169.3
170.1

February
March

233.2
236.4
239.8

15.7
15.4
14.8

270.8
273.3
275.5

9.9
9.5
9.9

April
May
June

242.5
244.9
247.6

11.7
10.2

280.2
282.7
283.5

9.5
8.2
7.2

July
August
September

247.8
249.4
251.7

October .
November
December

253.9

1978

-0.7

10.1

9.8
9.6
8.7
9.1

323.1
325.3
328.0

10.3
10,2
11.2

332.9
335.6
338.3

11.4
11.4
13.2

12.6
11.7

344.1
346.8
352.8

21.5
21.4
22.1

260.0
262.7
264.9

12.7
12.4
12.8

368.0
370.9
374.6

23.2
23.7
21.5

4.0
5.4
5.6

268.1
269.8
272.0

14.2
14.7
15.6

378.5
381 .8
384.6

15.4
16.8
17.4

171.0
172.8
173.8

5.6
5.6
5.7

277.2
280.2
283.4

15.0
15.0
14.1

394.1
399.7
405.1

20.4
20.5
20.5

174.9
175.6
176.5

6.9
5.5
4.7

286.7
289.3
291.1

12.9
12.3
11.6

419.0
422.8
426.8

18.5
15.8
14.1 •

176.8
177.0
177.0

4.6

295.5
298.4
301.0

(NA)

430.4
431.3
434.1

10.6

1979

May

10.8

9.8

1980

January

9.3
9.4

284.2
283.7
288.1

(NA)

(NA)

177.3

(NA)

436.8

NOTE: Series are seasonally adjusted except those series that appear to contain noseasonal movement. Unadjusted seriesare indicated by ®. Series numbers are for identification only and
do not reflect series relationships or order. Complete titles and sources are shown at the back of the book. The "r" indicates revised; "p", preliminary; "e", estimated; "a", anticipated; and
"NA", not available.
Graphs of these series are shown on page 59.

Changes over 6-month spans are centered on the 4th month.

NOVEMBER




1980

95

OTHER IMPORTANT ECONOMIC MEASURES
F I

INTERNATIONAL COMPARISONS—Con.

Q

Qj CONSUMER PRICES-Con.
19. United
States, index
of stock
737. Index© 737c. Change 733. Index® 733c. Change prices, 500
over 6-month
over 6-month common
stocks®
spans1
spans1
Italy

Year
and
month

Canada

STOCK PRICKS

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®

(1987-100)

(1967-100)

(Ann. rate,
percent)

(1967=100)

(Ann. rate,
percent)

(1967=100)

(1967=100)

(1967=100)

(1967-100)

(1967-100)

(1967-100)

January
February
March

271.1
273.9
277.4

10.3
10.9
11.5

194.0
195.3
197.5

8.5
9.3
9.6

98.2
96.8
96.6

339.0
348.3
359.7

126.5
127.9
126.1

98.0

100.3
120.0

198.2
187,7
187.5

40.7
43.5
42.8

105.3

April
May
June

280.0
282.7
285.1

12.1
12.6
12.0

197.9
200.7
202.4

11.0

9.6
7.3

100.8
106.0
106.2

371.8
371.0
373.2

124.9
124.0
127.1

130.6
133.3
135.7

191.9
202.9
201.2

41.4
43.2
44.0

106.9
109.4
109,1

286.8
288.3
292,9

12.7
11.8
11.5

205.4
205.5
205.2

8.6
8,2
7.7

105.7
113.0
113.0

382.8
380.3
387.6

129.1
132.3
136.4

149,8
150.6
165.1

204.4
220.3
223.3

44.8
48.4
57.3

116.7
120.8
129.5

12.7
13.8
14.1

207.3
209.0
209,6

6.8
8.7

. ...

295.5
298.6
300.1

109.4
103.3
104.5

395.0
398.9
404.9

138.7
134.8
133.9

158.7
155.4
158.7

217.4
208.1
213.3

57.5
51.6
51.2

122.3
129.1
131.7

....

305.1
309.7
313.8

14.5
15.6
15.6

211.2
213.2
215.7

9.9

108.5
106.9
108.9

416.1
409.9
405.7

135.0
131.9
131.2

160.9
149.9
155.4

211.1
212.2
240.8

52.4
54.8
57,9

138.4
141.1
150.7

April
May
June

317.8
321.3
323.9

14.9
15.5
17.8

217.2
219.3
220.3

9.5
8.5
8.5

111.0
108.5
110.7

402.9
411.1
402.3

130.6
127.8
121.7

164.5
162.0
171.7

255.7
255.0
241.0

54.1
56.8
58.0

149.5
154,8
168.9

July
August
September

326.7
330.6
339.2

19.2
19.4
21.7

222.1
222.9
224.9

7.9
8.8
9.5

111.7
116.8
118.1

400.6
408.0
412.5

122.0
124.3
125.7

173.7
188.6
207.4

232.8
233.9
236.3

58.8
61,7
63.0

159.4
178.6
191.7

October
November
December

345.5
350.3
356.6

25.8
26.1
23.1

226.5
228.7
230.1

10.0
10.4

113.6
112.8
117.2

408.2
403.4
410.8

123.5
118.3
118.8

187.5
189.1
186.8

238.9
215,6
217.1

62.6
58.6
55.4

175.^
189.3
199.5

367.9
374.3
378.2

23.0
r22.6
r20.4

231.3
233.3
235.8

10.3
10.6

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
r388.2
r391.7

r!8.2
r17.4
r!9.2

237.2
240.0
242.7

10.0
11.0
11.5

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

r398.4
r402.4
r410.9

15.1

244.5
246.8
249.0

11.7

130.4
134.3
137.6

424.9
429.1
437.6

121.2
121.7
120.0

198.9
199.9
rp204.7

255.9
256,7
262.6

66.0
74.4
82.7

240.0
232.3
233.5

October
November
December

417.9

141.7
p!46.8

447.5
p448.2

120.6
p115.9

rp206.0
P209.3

rp273.8
p282.2

rp97.3
p!07.0

rp234.0
p229.3

1978

July
August
September
October
November
December

. .

10.9

99.1
98.7

1979

January
February
March

10.9
10.1

9.9

1980

January
February
March

251.2

9.9

NOTE: Series are seasonally adjusted except those series that appear to contain noseasonal movement. Unadjusted seriesare indicated by ©. Series numbers are for identification only and
do not reflect series relationships or order. Complete titles and sources are shown at the back of the book. The "r" indicates revised; "p", preliminary; "e", estimated; "a", anticipated; and
"NA", not available.
Graphs of these series are shown on page 59.
1
Changes over 6-month spans are centered on the 4th month.

96



NOVEMBER 1980

C. Historical Data for Selected Series
Monthly

Quarterly

Year
Jan.

Feb.

Apr.

Mar.

May

June

July

Aug.

Sept.

Oct.

Nov.

Dec.

IQ

46. INDEX OF HELP-WANTED ADVERTISING IN NEWSPAPERS
(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...

1964...
1965. .
.
1966. .
.
1967...
1968. .
.
1969...
1970...
1971,.,
1972...
1973...
1974...
1975...
1976,..
1977...
1978...
1979...
1980.. .

III

Q

IV Q

AVERAGE FOR PERIOD

65
47
34
62
68
72
45
47
68
69
43
50
63
47
61
58

63
40
34
63
67
73
43
49
70
66
40
52
63
46
60
58

59
40
35
66
65
77
41
52
69
65
38
55
60
47
60
59

59
38
37
64
66
75
41
53
70
62
37
59
59
47
60
58

59
38
38
66
65
73
40
56
69
61
37
59
58
49
62
57

59
35
40
63
65
70
41
58
68
58
38
62
57
50
60
57

58
34
43
64
66
67
40
60
65
60
40
64
55
51
60
59

59
33
49
64
67
64
40
63
67
57
41
62
54
53
59
58

62
32
50
63
71
61
40
67
66
56
44
63
52
54
58
58

57
31
54
65
74
56
40
65
70
52
45
61
50
57
57
60

53
30
53
65
74
51
43
68
69
47
47
61
49
59
57
59

48
29
51
65
74
46
44
71
67
45
50
62
47
58
57
62

62
42
34
64
67
74
43
49
69
67
40
52
62
47
60
58

59
37
38
64
65
73
41
56
69
60
37
60
58
49
61
57

60
33
47
64
68
64
40
63
66
58
42
63
54
53
59
58

53
30
53
65
74
51
42
68
69
48
47
61
49
58
57
60

58
36
43
64
68
65
42
59
68
58
42
59
56
52
59
59

62
73
100
103
103
122
110
78
91
126
117
77
87
105
138
161

61
76
102
102
102
122
109
80
93
126
116
76
93
106
139
158

62
77
108
99
104
123
103
80
95
127
117
74
94
108
141
156

65
78
104
100
106
124
100
80
96
125
120
74
91
109
146
155

65
81
105
99
106
124
94
81
98
126
119
74
94
112
144
154

67
82
106
99
106
120
92
84
99
127
119
81
96
114
147
153

69
82
106
97
109
119
89
83
101
129
118
84
98
121
149
155

68
85
105
100
111
117
88
84
105
126
114
83
97
122
150
155

69
88
103
99
113
124
87
83
106
125
107
83
94
120
152
159

69
91
103
101
119
122
81
84
111
127
99
83
96
128
161
167

72
97
103
100
119
119
81
86
113
126
91
87
99
133
161
158

72
99
102
101
117
115
81
87
123
121
85
88
105
140
165
159

62
75
103
101
103
122
107
79
93
126
117
76
91
106
139
158

66
80
105
99
106
123
95
82
98
126
119
76
94
112
146
154

69
85
105
99
111
120
88
83
104
127
113
83
96
121
150
156

71
96
103
101
118
119
81
86
116
125
92
86
100
134
162
161

67
84
104
100
110
121
93
82
103
126
110
80
95
118
149
158

8,777
10,762
14,623
15,293
18,045
23,107
23,808
28,185
31,823
34,326
34,414
38,493
43,463
44,195
47,981
54,313

8,992
10,995
14,982
15,421
18,461
23,348
23,909
28,682
32,016
34,544
34,300
39,126
43,696
44,298
48,387
54,924

9,075
11,329
15,163
15,525
18,999
23,559
24,046
29,047
32,242
34,738
34,321
39,688
43,940
44,492
48,866
55,584

9,157
11,634
15,071
15,634
19,461
23,767
24,186
29,374
32,474
34,869
34,494
40,154
44,189
44,710
49,362
56,115

9,273
11,890
15,136
15,794
19,999
23,821
24,413
29,711
32,712
35,002
34,800
40,428
44,267
45,048
49,919
56,658

7,715
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

8,357
10,294
13,668
15,226
17,399
22,546
23,719
27,248
31,467
33,862
34,479
37,339
42,907
44,038
47,158
53,113

8,992
10,995
14,982
15,421
18,461
23,348
23,909
28,682
32,016
34,544
34,300
39,126
43,696
44,298
48,387
54,924

9,273
11,890
15,136
15,794
19,999
23,821
24,413
29,711
32,712
35,002
34,800
40,428
44,267
45,048
49,919
56,658

9,273
11,890
15,136
15,794
19,999
23,821
24,413
29,711
32,712
35,002
34,800
40,428
44,267
45,048
49,919
56,658

62,817
70,856
76,726
80,224
88,277
98,635
103,899
JL10,779
125,571
L45,995
]
:L59,769
J163,094
J182,151
.12,895
252,343 i.56,023
292,743 297,189

63,394
71,420
77,122
80,509
89,205
99,303
104,189
111,958
126,984
147,882
159,982
164,225
184,140
216,102
259,399
299,375

63,778
71,984
77,516
81,008
90,023
99,946
104,162
113,317
128,442
149,370
159,831
165,529
185,953
219,698
263,231
301,782

64,424
72,541
77,903
81,592
90,883
100,218
104,659
114,633
130,357
150,541
159,669
167,254
188,319
123,217
;
267,630
303,131

58,841
66,466
74,151
78,508
83,777
93,362
101,542
106,511
118,289
136,462
153,128
159,659
171,777
196,155
232,652
277,885

60,796
68,857
75,394
79,101
86,057
96,355
102,576
108,382
122,378
141,672
156,734
159,869
176,941
204,708
245,245
287,854

62,817
70,856
76,726
80,224
88,277
98,635
103,899
110,779
125,571
145,995
159,769
163,094
182,151
212,895
256,023
297,189

64,424
72,541
77,903
81,592
90,883
100,218
104,659
114,633
130,357
150,541
159,669
167,254
188,319
223,277
267,630
303,131

64,424
72,541
77,903
81,592
90,883
100,218
104,659
114,633
130,357
150,541
159,669
167,254
188,319
223,277
267,630
303,131

66. CONSUMER INSTALLMENT DEBT
(MILLIONS OF DOLLARS)

1948. .
.
1949...
1950...
1951..,
1952...
1953...
1954...
1955...
1956...
1957...
1958...
1959...
1960...
1961...
1962, .
.
1963...

Annual

II Q

7,173
9,359
12,157
15,270
15,901
20,537
23,762
24,779
30,049
32,783
35,010
35,177
40,859
44,282
45,261
50,468

7,435
9,469
12,440
15,324
16,049
21,004
23,775
25,203
30,430
33,008
34,854
35,517
41,359
44,182
45,522
50,953

7,715
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

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

8,202
10,092
13,279
15,248
16,833
22,298
23,687
26,771
31,237
33,628
34,561
36,846
42,577
44,035
46,708
52,535

8,357
10,294
13,668
15,226
17,399
22,546
23,719
27,248
31,467
33,862
34,479
37,339
42,907
44,038
47,158
53,113

8,569
10,545
14,264
15,178
17,773
22,850
23,771
27,665
31,630
34,174
34,456
37,826
43,235
44,093
47,569
53,742

57,358
65,148
73,149
78,193
82,290
91,491
100,763
105,137
115,954
132,508
151,385
159,601
168,593
190,426
225,714
270,697

58,163
65,820
73,616
78,236
83,078
92,576
1 01,174
I 05,831
]16,982
1 34,566
1 52,411
1 59,964
1 70,289
1 92,787
2 28,576
274,260

58,841
66,466
74,151
78,508
83,777
93,362
1 01,542
1 06,511
1 18,289
1 36,462
1 53,128
1 59,659
1 71,777
1 96,155
2 32,652
277,885

59,392
67,351
74,593
78,569
84,538
94,380
101r705
107,157
119,805
138,246
154,266
159,633
173,673
199,244
236,758
281,990

60,164
68,196
74,988
78,785
85,287
95,450
102,064
107,914
121,105
139,999
155,505
159,564
175,350
202,144
,
241,038
285,296

60,796
68,857
75,394
79,101
86,057
96,355
]02,576
]08,382
]22,378
]41,672
J 56,734
J 59,869
J 76,941
1 04,708
2 45,245
287,854

61,367
69,487
75,953
79,351
86,888
97,055
102,983
108,815
123,258
143,342
157,796
161,125
178,515
207,115
248,711
290,297

113.

END OF PERIOD

62,003
70,167
76,442
79,754
87,520
97,732
103,449
109,705
124,412
144,702
158,984
162,061
180,174

210,050 ;

NET CHANGE IN CONSUMER INSTALLMENT DEBT
(ANNUAL RATE, BILLIONS OF DOLLARS)

AVERAGE FOR PERIOD

1948...
1949...
1950...
1951...
1952,..
1953...
1954.. .
1955...
1956...
1957...
1958...
1959...
1960...
1961...
1962...
1963...

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

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

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

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

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

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

2.54
3.01
7.15
-0.58
4.49
3.65
0.62
5.00
1.96
3.74
-0.28
5.84
3.94
0.66
4.93
7.55

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

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

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

0.98
3.66
-1.10
1.31
5.54
2.50
1.68
3.92
2.78
1.57
2.08
5.59
2.99
2.62
5.95
6.37

1.39
3.07
0.78
1.92
6.46
0.65
2.72
4.04
2.86
1.60
3.67
3.29
0.94
4.06
6.68
6.52

3. 30
1.29
3.16
0.74
1,56
6.29
-0.43
5.38
4.18
1.98
-0.98
4.67
5.01
-0.48
2.93
6,12

2. 57
2.79
3.96
-0,38
4.86
3.90
0.02
5.95
2,85
2.62
-1.11
5.48
4.91
-0.43
5.51
6.66

2.54
2.80
5.26
0.7B
4.25
3.21
0.76
5,73
2.20
2.73
-0.72
7.15
3.16
1.04
4.91
7.24

1.12
3.58
0.62
1.49
6.15
1.89
2.01
4.11
2.78
1.83
2.00
5.21
2.29
3.00
6.13
€.94

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

1964...
1965...
1966...
1967...
1968...
1969...
1970...
1971,. .
1972...
1973...
1974...
1975...
1976...
1977...
1978...
1979...
1980...

8.40
8.69
7.30
3.48
8.38
7.30
6.54
5.74
15.85
25.81
10.13
-0.82
16.07
25.28
29.24
36.80

9.66
8.06
5.60
0.52
9.46
13.02
4.93
8.33
12.34
24.70
12.31
4.36
20.35
28.33
34.34
42.76

8.14
7.75
6.42
3.26
8.39
9.43
4.42
8.16
15.68
22.75
8.60
-3.66
17.86
40.42
48.91
43.50

6.61
10.62
5.30
0.73
9.13
12.22
1.96
7.75
18.19
21.41
13.66
-0.31
22.75
37.07
49.27
49.26

9.26
10.14
4.74
2.59
8.99
12.84
4.31
9.08
15.60
21.04
14.87
-0.83
20.12
34.80
51.36
39.67

7.58
7.93
4.87
3.79
9.24
10.86
6.14
5,62
15.28
20.08
14.75
3.66
19.09
30.77
50.48
30.70

6.85
7.56
6.71
3.00
9.97
8.40
4.88
5.20
10.56
20.04
12.74
15.07
18.89
28.88
41.59
29.32

7.63
8.16
5.87
4.84
7.58
8.12
5.59
10.68
13.85
16.32
14.26
11.23
19.91
35.22
43.58
29.35

9.77
8.27
3.41
5.64
9.08
10.84
5.40
12.89
13.91
15.52
9.42
12 .40
23.72
34.14
44.16
53.35

6.92
6.77
4,75
3.42
11.14
8.02
3.48
14.15
16.96
22.64
2.56
13.57
23.87
38.48
40.51
26.23

4.61
6.77
4.73
5.99
9.82
7.72
-0.32
16.31
17.50
17.86
-1.81
15.65
21.76
43.15
45.98
28.88

7.75
6.68
4.64
7.01
10.32
3,26
5.96
15.79
22.98
14.05
-1.94
20.70
28.39
42.95
52.79
16,19

8.73
8.17
6.44
2.42
8.74
9.92
5.30
7.41
14.62
24.42
10.35
-0.04
18.09
31.34
37.50
41.02

7.82
9.56
4.97
2.37
9.12
11.97
4.14
7,48
16.36
20.84
14.43
0.84
20.65
34.21
50.37
39.88

8.08
8.00
5.33
4.49
8.88
9.12
5.29
9.59
12.77
17.29
12.14
12.90
20.84
32.75
43.11
37.34

6.43
6.74
4.71
5.47
10,43
6.33
3.04
15.42
19.15
18.18
-0.40
16.64
24.67
41.53
46.43
23.77

7.76
8.12
5,36
3*69
9*29
9.34
4.44
9,98
15.72
20*18
9.13
7.58
21.06
34.96
44.35
35.50

NOTE: These series contain no revisions but are reprinted for the convenience of the user.




(NOVEMBER 1980)

97

C. Historical Data for Selected Series—Continued
Quarterly

Monthly
Year

Jan.

Feb.

Mar.

Apr.

May

June

July

109. AVERAGE P R I M E RATE CHARGED BY BANKg
(PERCENT)

1956...
1957...
1958. ..
1959...
I960...

1.75
2.00
2.00
2.44
3.00
1.00
3.25
3.00
3 . 50
4.00
4.34
4,00
5.00

1.73
2.00
2.00
2.50
3.00
3.00
3. 25
3.00
3.50
4.00
4,00
4.00
5.00

1.75
2.00
2.00
2.50
3.00
3.00
3.13
3.00
3.50
4.00
4.00
4.00
5.00

1962...
1963...

4,50
4.50

4.50
4.50

4.50
4.50

1,75
2.00
2,00
2.50
3.00
3.03
3.00
3.00
3.65
4,00
3.83
4.00
5.00
4 , 50
4. SO
4,50

1964...
1965...
1966...
1967...
1968. ..
1969...
1970...
1971...
1972..,
1973. ..
1974.,,
197S...
1976...
1977...
1978...
1979...
1980. ..

4.50
4.50
5.00
5.96
6.00
6. 95
8.50
6.29
5.18
6.00
9.73
10. OS
7.00
6.25
7.93
11.75

4.50
4 . 50
5.00
5.75
6.00
7.00
8.50
5.88
4.75
6.02
9.21
8.96
6.75
6.25
8.00
11.75

4.50
4.50
5.35
5.71
6.00
7.24
8.39
S.48
4.75
6.30
3.83
7.93
6.75
6,25
8.00
11,75

4.50
4.50
5.50
5.50
6.20
7,50
8.00
S.25
4.98
6.60
10.02
7.50
6.75
6.25
8.00
11.75

1948...
1949...

1950...
1951...
1952...
1953. ..
1954...
lisa...

114

1.75
2.00
2.00
2.50
3.00
3.25
3.00
3.00
3.75
4.00
3.50
4,23
5.00
4 . 50
4.50
4.50
4.50
4.50
5. SO
5.50
6.50
7.50
8.00
5.42
5.00
7.01
11.25
7.40
6.75
6.41
8.27
11.75

Sept.

Aug.

Oct.

Nov.

Dec.

1 Q

(S»

»Q

HI Q

Annual
IV Q

AVERAGE FOR PERIOD

4.50
4. 50
4.50
4.50

2.00
2,00
2.2S
2.62
3.00
3.2S
3.00
3.40
4.00
4.50
4.00
5.00
4.50
4 , 50
4.50
4.50

2.00
2.00
2.25
2.75
3.00
3.25
3.00
3.50
4.00
4.50
4,00
5.00
4.50
4. 50
4.50
4.50

2.00
2.00
2.25
2.85
3.00
3.25
3.00
3.50
4.00
4. SO
4,00
5.00
4. SO
4, SO
4.50
4.50

4,50
4.50
6.00
5. SO
6.40
8. SO
7.83
6.00
5.50
9.86
12.00
7.88
7. 00
7.13
9.41
12.90

4. SO
4.50
6.00
5.50
6.00
8.50
7.50
5.91
5.73
9.94
11.68
7,96
6.78
7.52
9.94
14.39

4.50
4.50
6.00
5.68
6.20
8.50
7.28
5.47
5.75
9.75
10.83
7. S3
6.50
7.75
10.94
15.55

4.50
4.92
6.00
6.00
6.60
8.50
6.92
5.25
5.79
9,75
10,50
7.26
6.35
7.7S
11.55
15.30

4.50
4.50
5.12
5.81
6.00
7.06
8.46
5.88
4.89
6.11
9.26
8.98
6.83
6.25
7.98
11.75

5.39
5.01
7.03
10.94
7.32
6.90
6.47
11.30
11.72

1.7S
2.00
2.00
2.50
3.00
3.25
3.00
3.00
3.75
4.00
3.50
4.50
5.00
4 . 50
4.50
4.50

1.75
2.00
2.00
2.50
3.00
3.25
3.00
3.00
3.75
4.00
3.50
4.50
5.00
4, 50
4,50
4.50

2.00
2.00
2.00
2,50
3.00
3.2S
3.00
3.23
3.84
4.42
3.50
4.50
4.85
4. 50
4.50
4,50

2.00
2,00
2.08
2.50
3.00
3.25
3.00
3.25
4.00
4.50
3.83

4.50
4. SO
5.52
5.50
6.5D
8.23
8.00
5.50
5.04
7,49
11.54
7.07
7.20
6,75
8,63
11,65

4. SO
4,50
5.75
5.50
6.50
8.50
8.00
5.90
5.25
8.30
11.98
7.15
7.25
6.75
9.00
11.54

4.50
4.50
5.88
S.50
6.50
8.50
8.00
6.00
5.27
9.23
12.00
7.66
7.01
6.83
9.01
11.91

s.oo

DISCOUNT RATE OH HEW ISSUES OP 91- DA'/ TREASURY BILLS
(PERCENT)

1.75
2.00
2.00
2.48
3.00
3.00
3.21
3.00
3.50
4.00
4.11
4.00
5.00
4 . 50
4.50
4.50

1.75
2.00
2.00
2.50
3.00
3.18
3.00
3.00
3.72
4.00
3.61
4.24
5.00
4 . 50
4. 50
4.50
4.50
4,50
5.51
5,50
fj.40
7.74

8.00

1.92
2,00
2.03
2.50
3.00
3.25
3.00
3.16
3.B6
4.31
3.61
4.67
4.78
4 , 50
4.50
4.50

2.00
2.00
2.25
2.74
3.00
3.25
3.00
3.47
4.00
4.50
4,00
.00
.50
< , 50
.50
.50

1.85
2.00
2.07
2.56
3.00
.1.17
3.05
3.16
3.77
4.20
3.83
4.48
4.82
4 . 50
4.50
4.50

4.50
4.50
5,88
5,50
6.47
8 , 50
7.94
5,97
5.34
9.13
11.99
7.56
7.09
6.90
9.14
12.12

.SO
.64
6,00
5,73
6.27
8.50
7.23
5.54
5.76
9.81
11.00
7.58
6.54
7,67
10.81
15.08

4.50
4,54
5,62
3.63

6. as

7.95
7.91
5.70
5.25
8,02
10.80
7.86
6,84
6.82
9.06
12 . 67

©
AVERAGE l-'OR P E R I O D

1948...
1949...
1950.,.
1951.,.
1953. ,.
1953...
1954...
1955...
1956. ..
1957...
1958...
1959...
I960..,
1961...
1962. ..
1963,..

0.97
1.16
1.09
1.39
1.69
2.04
1, 2 1
1.26
2.46
3.21
2.60
2,84
4.44
2.30
2.75
2.91

0.99
1.16
1.12
1.39
1.57
2,02
0.98
1.18
2.37
3.16
1.56
2.71
3.95
2.41
2.75
2.92

1.00
1.16
1.14
1.42
1.66
2.08
1.05
1.34
2.31
3.14
1.35
2,85
3.44
2.42
2.72
2.90

1.00
1.16
1.16
1.52
1.62
2.18
1.01
1.62
2.61
3.11
1.13
2.96
3.24
2.33
2.74
2.91

1.00
1.15
1.17
1.58
1.71
2,20
0.7U
1.49
2.65
3.04
1.05
2.85
3.39
2.29
2.69
2.92

1.00
1.16
1.17'
1.50
1.70
2.23
Q.6S
1.43
2.53
3.32
0.88
3.25
2.64
2.36
2.72
3.00

1.00
0.98
1.17
1.59
1.82
2,10
0,71
1.62
2.33
3.16
0.96
3.24
2.40
2.27
2.94
3.14

1.03
1.02
1.21
1,64
1.88
2.09
0.89
1.88
2.61
3.40
1.69
3.36
2.29
2.40
2.84
3.32

1.09
1.06
1,32
1.65
1.79
1.88
1.01
2.09
2.85
3.58
2.48
4.00
2.49
2.30
2.79
3.38

1.12
1.04
1.33
1.61
1.78
1.40
0.99
2.26
2.96
3.S9
2.79
4.12
2.43
2.35
2.75
3.45

1.14
1.06
1.36
1.61
1,86
1.43
0.95
2.22
3.00
3.34
2.76
4.21
2.38
2.46
2.80
3.52

1.15
1.10
1.37
1.73
2.13
1.63
1.17
2.56
3.23
3.10
2.81
4.57
2.27
2.62
2.36
3.52

0.99
1.16
1.12
1.40
1.64
2.05
1.08
1.26
2.38
3.17
1.84
2.80
3.94
2.38
2.74
2.91

1.00
1.16
1.17
1,53
1.68
2.20
0.81
1.51
2.60
3.16
,1 , 02
3.02
3.09
2.33
2.72
2.94

1.04
1.02
1.23
1.63
1.83
2.02
O.B7
1.86
2.60
3.38
1,71
3.53
2,39
2.12
2.86
3.28

1,14
1.07
1.35
1.65
1.92
1.49
1.04
2 . 15
3.06
3.34
2.79
4.10
2.16
2.48
2.B0
3.50

1.04
1.1Q
1.22
1.55
1.77
1.94
0.95
1.75
2.66
3.26
1.84
3.41
<?. ( 'J5
2 . 18
2 . 78
3. 16

1964. ,.
1965., ,
1966...
1967...
1968...
1969...
1970. .,
1971...
1972.,,
1973...
1974..,
1975...
1976...
1977...
1978...
1979...
1980...

3.53
3.83
4.60
4.76
5.08
6.18
7.91
4.49
3.40
5.31
7.76
6.49
4.96
4.60
6.45
9.35

3.53
3.93
4,67
4.55
4.97
6.16
7.1(1
3.77
3.18
S. 56
7.06
5.58
4.85
4.66
6.46
9.27

3.55
3.94
4.63
4.29
5.14
6.08
6.71
3.32
3.72
6.05
7.99
5.54
5. OS
4.61
6.32
9.46

3.48
3.93
4.61
3.85
5.36
6.15
6.48
3.78
3.72
6.29
8.23
5,69
4,88
4,34
6,31
9.49

3.48
3.90
4.64
3.64
5.62
6.08
7.04
4.14
3.65
6.35
8.43
5.32
5.18
4.94
6.43
9,58

3.48
3.81
4,54
3.48
5.54
6.49
6.74
4.70
3.87
7.19
8.14
5.19
5.44
5.00
6.71
9.05

3.48
3.83
4.86
4.31
S.38
7.00
6,50
5.40
4.06
8.02
7.75
6.16
5.28
5.15
7.07
9.26

3,51
3.84
4.93
4.28
S.10
7.01
6.41
5.08
4.01
8,67
8.74
6.46
5.15
5.50
7.04
9.45

3.53
3.91
5.36
4.45
5.20
7.13
6.24
4.67
4.65
8.48
8.36
6.38
5.08
5,77
7.84
10.18

3.58
4.03
5.39
4.59
5.33
7.04
5.93
4.49
4.72
7.16
7.24
6.08
4.93
6.19
8.13
11,47

3.62
4.08
5.34
4.76
5.49
7.19
5.29
4.19
4.77
7.87
7.58
5.47
4.81
6.16
8.79
11.87

3.86
4.36
5.01
5.01
5.92
7.72
4.86
4,02
5.06
7.36
7.18
5.50
4,35
6.06
9.12
12,07

3.54
3.90
4.63
4,53
5.06
6.14
7.26
3.86
3.43
5.64
7,60
5,87
4.95
4,62
6.41
9.36

3.48
3.88
4.60
3.66
5. SI
6.24
6.75
4,21
1.75
6,61
8,27
5.40
5.17
4.83
6.48
9.37

3.51
3.86
5.05
4.35
5.23
7.05
6.18
5,05
4.24
8 . 39
8.28
6.33
5,17
5.47
7.32
9.63

3.69
4,16
i.a'i
4.79
5.58
7.32
5,36
4.2:!
4.85
7.46
7.33
5 . 68
4.70
6.14
8 . 68
11.80

3.55
3.95
4.88
4.33
5.34
6.69
6,44
4. 34
4 . 07
7.03
7.87
5.82
5.00
S.26
7.22
10.04

2.45
2.22
2.38
2.61
2.74
2.83

2.44
2.20
2.38
2.66
2.71
2.86

2. 54

2.57
2.89

3.30
3.57
3.70
4.12
3.93
3.98
3.87
4.11

2.44
2.19
2.39
2.70
2.75
2.79
2.59
2.91
3.40
3.30
3.80
4.27
3.88
4.06
3.87
4.14

2.45
2.40
2.24
2,42
2.72
2.84
3.61
2.75
2.89
3.27
3.26
3.92
4.22
3.83
4.06
3.91

2,42
2 , ,38
2.31
2 , .61
2 ,,61
3, ,07
2 . 32
2 ,,82
2*99
3,43
3,15
4.06
4,11
3.80
3.89
3.98

2.45
2.24
2.34
2.59
2.67
3.01
2.49
2.93
3.13
3.63
3.57
4.16
3.83
3.97
3.98
4.01

2.44
2.20
2 . 38
2.66
2,73
2.83
2 . 37
2.89
3.30
3.53
3.75
4.17
3.91
4.01
3. 80
4,11

2.44
2.31
2.32
2 . 57
2.68
2.94
2.55
2.84
3.08
3.47
3.43
4.98
4.02
3.90
3.95
4.00

4.16
4,28
4,70
5,19
5.24
6.27
6.59
5.46
5.69
6.25
7.22
7.29
6.65
7.08
8.07
9.44

4.12
4.34
4.74
5,44
5.36
6.52
6.24
5.48
5.51
6.30
6.93
7.21
6.62
7.16
8.16
9.80

4.14
4.43
4,65
5.36
5.66
6.81
5.97
5.62
5.63
6.35
6.77
7.17
6.38
7.24
8.36
9.58

4.16
4. IS
4.56
4.44
5.24
5.88
6.56
5.82
5.65
6.10
6.64
6.70
6.91
7.01
7.58
8.44

4.16
4.14
4.58
4.71
5.30
5.91
6.82
5.88
5.66
6.23
7.05
6.97
6.89
7.10
7.85
8.44

4.14
4.20
4.78
4.93
S.07
6.14
6.65
S.7S
5.63
6.60
7.2?
7. 09
6.79
6.98
7.93
8.48

4.14
4.35
4.70
5.33
S.42
6.53
6.27
5.52
5.61
6.30
6.97
7.22
6.55
7.16
8.20
9.61

4.15
4.21
4.65
4. 85
5.26
6.12
6.58
5.74
5.64
6.31
6.98
7.00
6.78
7.06
7.89
8.74

115. Y I E L D ON LONG-TERM TREASURY BONDS
(PERCENT)

@
AVERAGE I'OR PERIOD

1948...
1949. ..
1950.,.
1951.. .
1952...
1953.,.
1954...
1953...
1956...
1957. ..
1958...
1959,..
1960...
1961...
1962...
1963., ,

2.45
2.42
2.20
2.39
2.74
2.80
2.69
2.68
2.80
3.34
3.24
3.91
4.37
3.89
4.08
3.89

2.45
2,39
2.24
2.40
2.71
2. S3
2.62
2,78
2,85
3.22
3.28
3.92
4.22
3.81
4.09
3.92

2.44
2.38
2.27
2.47
2.70
2.89
2.53
2.78
2,93
3.26
3.25
3.92
4.08
3.78
4.01
3.93

2.44
2.38
2.30
2.56
2.64
2.97
2,48
2.82
3.07
3.32
3.12
4.01
4. IB
3.80
3.89
3.97

2.42
2.38
2.31
2.63
2.57
3.11
2. 54
2.81
2.97
3.40
3.14
4.08
4.16
3.73
3.88
3.97

2.41
2.38
2.33
2.65
2,61
3.13
2.5S
2.82
2.93
3.58
3.20
4.09
3.98
3.88
3.90
4.00

2 .44
2.27
2,34
2.63
2.61
3.02
2 .47
2.91
3.00
3.60
3.36
4.11
3,86.
3.90
4.02
4,01

2.45
2.24
2.33
2.57
2.70
3.02
3.17
3.63
3,60
4.10
3.79
4.00
3.98
3.99

2.45
2.22
2.36
2.56
2.71
2.98
2 .52
2.92
3.21
3.66
3.75
4.26
3.84
4.02
3.94
4.04

1964. ,.
1965...
1966. , ,
1967.,,
1968...
1969...
1970...
1971. ..
1972, ..
1973.,,
1974.,,
1975...
1976...
1977.,,
1978.. ,
1979...
1980.,,

4,15
4.14
4.43
4.40
5.18
S.74
6.86
5.92
5.62
5.96
6.56
6.68
6.93
6.68
7.51
8.43

4.14
4.16
4.61
4.47
5,16
5.86
6.44
5.84
5.67
6.14
6.54
6.66
6.92
7.16
7.60
8.43

4.18
4.15
4.63
4.45
5.39
6.05
6.39
5.71
5.66

4.20
4.15
4.55
4.51
5.28
5.84
6.53
5.75
5.74
6.11
7.04
7.05
6.73
7.13
7.74
8.44

4.16
4.14
4,57
4,76
S.40
5.85
6.94
5.96
5.64
6.2S
7.09
7.01
7.01
7.17
7.87
8.55

4.13
4.14
4.63
4.86
S.23
6.05
fi.99
5.94
S.S9
6.32
7.02
6.86
6.92
6.99
7.94
8.32

4,13
4.15
4.75
4.86
5.09
6.07
6. 57
S.91
5.59
6.53
7,18
6.89
6.85
6.98
8.10
8.35

4.14
4.19
4.80
4.95
5.04
6.02
6.75
5.78
5.59
6.85
7.33
7.11
6.82
7.01
7.88
8.42

4.16
4.25
4.79
4,99
5,09
6.32
6.63
5.56
5.70
6.41
7.30
7.28
6.70
6.94
7.82
8.68

MOTK:

a. 20

6.81
6.77
6.88
7.20
7.63
8,45

2.48
2.95

These scries contain no revisions but are reprinted for the convenience of the user.




2,87
3.20
3.73
3.76
4.11
3.91
3.98
3.89
4.07

(NOVEMBER 1980)

C. Historical Data for Selected Series—Continued
Quarterly

Monthly
Year

Jan.

Feb.

Mar.

Apr.

May

June

July

Sept.

Aug.

116. YIELD ON NEWISSUES OF HIGH-GRADE CORPORATE BONDS
(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...

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...

Nov.

Dec.

Q

II Q

III Q

Annual
IV Q

©
AVERAGE FOR PERIOD

2.97
2.66
2.60
2.74
3.08
3.17
3.00
2.99
3.20
4.28
3.62
4.58
5.34
.63
.56
.22

2.85
2.77
2.58
2.78
2.94
3.26
2.88
3.09
3.07
4.13
3.73
4.60
5.24
4.43
4.53
4.25

2.99
2.75
2.57
2.90
3.14
3.41
2.74
3.14
3.25
4.18
3.88
4.53
4.98
4.37
4.41
4.28

2.81
2.74
2.40
3.06
3.09
3.53
2.88
3.11
3,55
4.23
3.67
4.60
4.97
4.57
4.37
4.35

2.86
2.69
2.58
2.98
3.25
3.80
2.90
3.15
3.48
.41
.66
.92
.95
.67
.32
.36

2.93
2.77
2.63
3.24
3.09
3.82
2.91
3.11
3.56
4.81
3.61
5.00
4.91
4.82
4.30
4.32

2.80
2.68
2.55
3.20
3.11
3.59
2.94
3.14
3.56
4.59
3.85
.95
.79
.81
.41
.34

2.83
2.60
2.61
3.01
3.08
3.46
2.94
3.41
.02
.78
.39
.90
.65
.79
.39
.34

2.86
2.40
2.70
2.91
3.14
3.60
3.01
3.27
3.96
4.68
4,56
5.28
4.64
4.72
4.28
4.40

2.99
2.50
2.64
3.09
3.16
3.09
2.84
3.15
3.94
4.71
4.48
5.37
4.75
4.60
4.26
4.37

2.96
2.54
2.63
3.36
3.07
3.13
2.94
3.17
.29
.56
.35
.14
,82
.52
.23
4.42

3.15
2.53
2.75
3.22
3.04
3.23
2.87
3.27
,26
.04
.44
.27
.94
.58
.28
.49

2.94
2,73
2.58
2.81
3.05
3.28
2.87
3.07
3.17
4.20
3.74
4.57
5.19
4.48
4.50
4.25

2.87
2.73
2.54
3.09
3.14
3.72
2.90
3.12
3.53
4.48
3.65
.84
.94
.69
.33
.34

2.83
2.56
2.62
3.04
3.11
3.55
2.96
3.27
3.8S
4.68
4.27
5.04
4.69
4.77
4.36
4.36

3.03
2.52
2.67
3.22
3.09
3.15
2.88
3.20
.16
.44
.42
.26
.84
.57
.26
.43

2.92
2.64
2.60
3.04
3.10
3.42
2.90
3.17
3.68
.45
.02
.93
.92
.63
.36
,34

.50
.45
4.93
5.53
6.57
7.29
9.00
7.63
7.36
7.61
8.32
9.17
8.97
7.96
8.70
9.47

4.39
4.45
5.09
5.35
6.57
7.33
8.84
7.54
7.57
7.67
8,21
8.84
8.71
8.18
8.70
9.52

4.45
4.49
5.33
5.55
6.80
7.76
9.00
7.62
7.53
7.75
8.60
9.48
8.73
8.33
8.70
9.65

4.48
4.48
5.38
5.59
6.79
7.54
9.09
7.76
7.77
7.70
9.04
9.81
8.68
8.30
8.88
9.69

4.48
4.52
5.55
5.90
7.00
7.62
9.53
8.25
7.61
7.69
9.39
9.76
9.00
8.38
9.00
9.82

4.50
4.57
5.67
6.06
7.02
8.04
9.70
8.15
7.63
7.73
9.59
9.27
8.90
8.08
9.15
9.51

.44
.57
5.81
6.06
6.91
8.06
9.09
8.24
7.72
7.97
10,18
9.56
8.76
8.12
9.27
9.47

.44
.66
6.04
6.30
6.54
8.05
9.08
8.14
7.59
8.45
10.30
9.71
8.59
8.06
8.83
9.57

4.49
4.71
6.14
6.33
6.69
8.36
9.00
7.90
7.72
8.10
10.44
9.89
8.37
8.11
8.78
9,87

4.49
4.70
6.04
6.53
6.88
8.46
9.14
7.72
7.66
7.97
10.29
9.54
8.25
8.21
9.14
11.17

4.48
4.75
6.11
6.87
7.00
8.94
8.97
7.67
7.46
7.95
9.22
9.48
8.17
8.26
9.30
11.52

.49
.92
.98
6.93
7.28
9.22
8.13
7.54
7.50
8.09
9.47
9.59
7.90
8.39
9.30
11.30

4.45
4.46
5.12
5.48
6.65
7.46
8.95
7.60
7.49
7.68
8.38
9.16
8.80
8.16
8.70
9.55

.49
.52
5.53
5.85
6.94
7.73
9.44
8.05
7.67
7.71
9.34
9.61
8.86
8.25
9.01
9.67

4.46
4.65
6.00
6.23
6.71
8.16
9.06
8.09
7.68
8.17
10.31
9.72
8.57
8.10
8.96
9.64

.49
.79
6.04
6.78
7.05
8.87
8.75
7.64
7.54
8.00
9.66
9.54
8.11
8.29
9.25
11.33

4.47
4.61
5.67
6.08
6.84
8.06

117.
1948...
1949...
1950.. .
1951...

Oct.

Y I E L D ON M U N I C I P A L BONDS, 20-BOMD AVERAGE
(PERCENT)

9.05
7.85
7.59
7.89
9.42
9.51
8.59
8.20
8.98
10.05

©
AVERAGE FOR PERIOD

2,36
2.16
2.06
1.61
2.09
2.43
2.50
2.40
2.50
3.18
2.91
3.42
3.72
3.40
3.34
3.10

2.47
2.20
2.03
1.58
2.07
2.55
2.42
2.44
2.44
3.00
3.02
3.36
3.60
3.31
3.21
3.15

2.45
2.18
2.01
1.74
2.08
2.65
2.40
2.44
2.57
3.10
3.06
3,30
3.56
3.45
3.14
3.05

2.37
2.14
2.03
1.94
2.04
2.65
2.47
2.41
2.70
3.13
2.96
3.39
3.56
3.50
3.06
3.10

2.31
2.14
2.00
2.00
2.06
2.78
2.50
2.38
2.68
3.27
2.92
3.58
3.60
3.43
3.11
3.11

2.24
2.20
1.99
2.19
2.13
2.99
2.48
2.41
2.54
3.41
2.97
3.72
3.55
3.52
3.26
3.21

2.27
2.16
2.01
2.15
2.15
2.98
2.32
2.54
2.65
3.40
3.09
3.71
3.50
3.52
3.28
3.22

2.37
2.12
1.83
2.02
2.24
2.90
2.26
2.60
2.80
3.54
3.36
3.58
3.34
3.52
3.23
3.13

2.41
2.14
1.84
2.01
2.30
2.90
2.31
2.58
2.94
3.54
3.54
3.78
3.42
3.53
3.11
3.20

2.42
2.16
1.79
2.06
2.38
2.75
2.34
2.51
2.95
3.42
3.45
3.62
3.53
3.42
3.02
3.20

2.38
2.12
1.74
2.05
2.38
2.62
2.32
2.46
3.16
3.37
3.32
3.55
3.40
3.41
3.04
3.30

2.26
2.09
1.72
2.09
2.38
2.60
2.36
2.57
3.22
3.04
3.34
3.68
3.40
3.47
3.07
3.27

2.43
2.18
2.03
1.64
2.08
2.54
2.44
2.43
2.50
3.09
3.00
3.36
3.63
3.39
3.23
3.10

2.31
2.16
2.01
2.04
2.08
2.81
2.48
2.40
2.64
3.27
2.95
3.56
3.57
3.48
3.14
3.14

2.35
2.14
1.89
2.06
2.23
2.93
2.30
2.57
2.80
3.49
3.33
3.69
3.42
3.52
3.21
3.18

2.35
2.12
1.75
2.07
2.38
2.66
2.34
2.51
3.11
3.28
3.37
3.62
3.44
3.43
3.04
3.26

2.36
2.15
1.92
1.95
2.19
2.73
2,39
2.48
2.76
3.28
3.16
3.56
3.52
3.46
3.16
3.17

3.22
3.06
3.52
3.54
4,29
4,85
6.65
5.36
5.12
5.05
5.22
6.82
7.07
5.87
5.71
6.47

3.14
3.09
3.64
3.52
4.31
4.98
6.36
5.23
5.28
5.13
5.20
6.39
6.94
5.89
5.62
6.31

3.28
3.18
3.72
3.55
4.54
5.26
6.03
5.17
5.31
5.29
5.40
6.74
6.92
5.89
5.61
6.33

3.28
3.15
3.56
3.60
4.34
5.19
6.49
5.37
5.43
5.15
5.73
6.95
6.60
5.73
5.80
6.29

3.20
3.17
3.65
3.89
4.54
5.33
7.00
5.90
5.30
5.14
6.02
6.97
6.87
5.75
6.03
6.25

3.20
3.24
3.77
3.96
4.50
5.76
6.96
5.95
5.34
5.18
6.13
6.95
6.87
5.62
6.22
6.13

3.18
3.27
3.95
4.02
4.33
5.75
6.53
6.06
5.41
5.40
6.68
7.07
6.79
5.63
6.28
6.13

3.19
3.24
4.12
3.99
4.21
6.00
6.20
5.82
5.30
5.48
6.71
7.17
6.61
5.62
6.12
6.20

3.23
3.35
4.12
4.12
4.38
6.26
6.25
5.37
5.36
5.10
6.76
7.44
6.51
5.51
6.09
6.52

3.25
3.40
3.94
4.30
4.49
6.09
6.39
5.06
5.18
5.05
6.57
7.39
6.30
5.64
6.13
7.08

3.18
3.46
3.86
4.34
4.60
6.30
5.93
5.20
5.02
5.18
6.61
7.43
6.29
5,49
6.19
7.30

3.13
3.54
3.86
4.43
4.82
6.82
5.46
5,21
5.05
5.12
7.05
7.31
5.94
5.57
6.50
7.22

3.21
3.11
3.63
3.54
4.38
5.03
6.35
5.25
5.24
5.16
5.27
6.65
6.98
5.88
5.65
6.37

3.23
3.19
3.66
3.82
4.46
5.43
6.82
5.74
5.36
5.16
5.96
6.96
6.78
5.70
6.02
6.22

3.20
3.29
4.06
4.04
4.31
6.00
6.33
5.75
5.36
5.33
6.72
7.23
6.64
5.59
6.16
6.28

3.19
3.47
3.89
4.36
4.64
6.40
5.93
S.16
5.08
5.12
6.74
7.38
6.18
5.57
6.27
7.20

3.21
3.26
3.81
3.94
4.45
5.72
6.35
5.48
5.26
5.19
6.17
7.05
6.64
5.68
6.02
6. 52

118. SECONDARY MARKET YIELDS ON FHA MORTGAGES
(PERCENT)

®
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...
1974...
1975...
1976...
1977...
1978...
1979...
1980...

NOTE:

4.35
4.31
4.08
.26
.34
.75
.56
.73
.. .
5.58
5.60
6.24
6.00
5.69
5.52

4.35
4.31
4.08
4.27
4.34
4.69
4.56
4.70
5.36
5.56
5.58
6.23
5.89
5.68
5.48

.35
.30
.12
.29
.34
.64
.59
.68
5.35
5.51
5.57
6.22
5.82
5.65
5.47

4.35

5.45
5.45
5.70
6.62
6.81

5.45
5.45

5.45
5.45
6.00
6.35
6.83
8.05
9.20
7.32
7.45
7.63
8.66
8.69

5.45
5.45

6.46
6.78
7.99
9.29
.. .
7.46
7.56
8.54
8.84
9.04
8.55

.. .
7.49
7.55

a! 99
9.06
8.45
9.18
10.24

lo!24

8^65

9.35
10.26

4.19
4.29
4i62

4.60
4.71
5.35
5.43
5.58
6.21
5.77
5.64
5.46

6.29
6.94
8.06
9.10
7.37
7.50
7.73
9.17
8.82
8.64
9.44

4.34
.. ,
4.27
4.29
4 !59
4.63
4.78
5.32
5.39
5.64
6.21
.. .
5.60
5.45

5.45
5.45
6.32
6.44
8.06
9.11
7.75
7.53
7.79
9.46
9.16
9.03
...
9.74
10.61

4.35
4.09
4.29
4.30
4.67
4.57
4.63
4.81
5.35
5.37
5.71
6.19
s!s9
5.45
5.45
5.44
6.45
6.51
7.52
8.35
9.16
7.89
7.54
7.89
9.46
9.06
9.05
8.77
10.49

4.34
4.08
4.31
4.30
4,74
4.56
4.64
4.81
5.38
5.35
5.75
6.18
5.68
5.58
5.45
5.46
5.44
6.51
6.53
7.42
8.36
9.11
7.97
7.54
8.19
9.85
9.13
8.99
8.77
9.96
10.46

.34
.08
.31
.30
.82
.56
.67
.87

4.32
4.08
4.30
4.30
4.86
4.56
4.70
4.92

s!37
5.80
6.14
5.68
5.57
5.45

siso

.32
.08
.27
.31
.82
.56
.73
.95
5.63
5.57

6.11
5.69
5.56
5.45

6.09
5.70
5.55
5.45

5.46
5.45
6.58
6.60
7.35
8.36
9.07
7.92
7.55

5.46
5.46
6.63
6.63
7.28
8.40
9.01
7.84
7.56
9.18
10.38
9.74
8.82
8.74
9.81
11.37

5.45
5.49

10.30
9.32
8.93
8.77
9.81
10.58

These series contain no revisions but are reprinted for the convenience of the user.




eles

7.29
8.48
8.97
7.75
7.57
8.97
10.13
9.53
8,55
8.81
9.98

4.32
4.08
4.27
4.32
4.81
4.56
4.75
.. .
5.63
5.60
6.23
6.05
5.70
5.54
5.45
5.45
5.51
6.81
6.77
7.36
8.48
8.90
7.62
7.57
8.86
9!41
8.45
8.81
10.04
12.41

.32
.08
.26
.32
.78
.56
4.73

.35
.31
.09
.27
.34
4.69
4.57
4.70

4.35
4.25
4.29
4i59

5.60
6.23
6.04
5.69
5.53
5.45

5.55
5.58
6.23
5.90
5.67
5.49

4,62
4.77
5.34
5.40
5.64
6,20
.. .
5.61
5.45

5.45
5.62
6.77
6.81
7.50
8.62
8.40
7.59
7.56
8.78
9.51
9.32
8.28
8.96
10.23
12.24

5.45
5.45

5.45
5.45

siei

6*. 48
6.81

?! 47
7.58
, ..
8.84

e!4i
.. .
8.16
9.12
7.67
7.52
7.80
9.36

s!97
8.55
10^25

.. ,

4.33
4.08
4.31
4.30
4.81
4.56
4,67
4.87
, ..
5.41

4.32
4.08
4.27
4.32
4.80
4,56
4.74

6!l4
5.68
5.57
5.45

eioe

5.46
5.45
6.57
6.59
7.35
8.37
9.06
7.91
7.55
.. .
10.18
9.40
8.91
8.76
9.86
10.80

5.45
5.54

5.45
5.47

e!?4

6.56

5!62
5.59
5.70
5.54
5.45

7.38
8.53
8.76
7.65
7.57
8.87
9,42
8.43
8.86
10.08

4.34
4.23
4.30
4.60
4,65
s!49

e!i6
sleo
5.46

.. ,

7.53
.. ,
...

(NOVEMBER 1980)

99

C. Historical Data for Selected Series—Continued
Quarterly

Monthly
Year

Jan.

Feb.

Mar.

Apr.

May
119.

1948, ,,
1949...
1950...
1931,..
1952. ..
1933.,,
1954, . .
1955...
1956...
1937...
1938...
1939...
1960...
1961...
1962...
1963...

1964...
1965...
1966...
1967,..
1968...
1969...
1970...
1971...
1972...
1973.,,
1974...
1975.,,
1976...
1977...
1978...
1979...
1980...

July

FEDERAL FUNDS RATE
(PERCENT)

Aug.

Sept.

Oct.

N<w. Dec.

IQ

ll Q

1.35
2.50
2.96
1.20
2.80
3.84
2.02
2.70
2.98

1.43
2.62
3.00
1.26
2.96
3.92
1.50
2.69
2.90

1.43
2.75
3,00
0.63
2.90
3.85
1,98
2.29
3.00

1,62
2.71
3.00
0.93
3.39
3.32
1.73
2,68
2.99

1,68
2.74
2.99
0.68
3.44
3.23
1.16
2.71
3.02

1.90
2.74
3.24
1.53
3.50
2.98
2.00
2.93
3.49

1.07
2.18
2.95
3.50
1.76
3.76
2.60
1.88
2.90
3.48

0.90
2.24
2.96
3.50
1.80
3.98
2.47
2.26
2.90
3.50

0 .91
2 .35
2 .88
3 .22
2 .27
4 .00
2 .44
2 .62
2 .94
3 .48

1.26
2.48
2.94
2.98
2,42
3.99
1,98
2.33
2,93
3.38

2.48
2.96
1.86
2.56
3.93
2.00
2.40
2.96

2.69
3.00
0.94
3.08
3.70
1.74
2 . 55
2.96

3.48
3.90
4,42
4,94
4.60
6.30
8.98
4.14
3.50
3.94
9. 65
7.13
4.87
4.61
6.70
10.07

3.48
3.98
4.60
5.00
4.72
6.64
8.98
3.72
3.29
6.58
8.97
6.24
4.77
4.68
6.78
10.06

3.43
4,04
4.65
4.53
5.05
6.79
7.76
3.71
3.83
7.09
9.35
5.54
4.84
4.69
6.79
10.09

3.47
4.09
4.67
4.05
5.76
7.41
8.10
4.15
4.17
7.12
10.51
3.49
4.82
4.73
6.89
10.01

3. BO
4.10
4.90
3.94
6.12
8.67
7.94
4.63
4.27
7.84
11.31
5.22
5.29
3.35
7.36
10.24

3.50
4.04
5.17
3.98
6.07
8.90
7.60
4.91
4.46
8.49
11.93
5.55
5.48
5.39
7.60
10.29

3.42
4.09
5.30
3.79
6.02
8.61
7.21
5.31
4.55
10.40
12.92
6.10
5.31
5.42
7.81
10.47

3.50
4.12
S.53
3.89
6.03
9.19
6.61
5.57
4.80
10.50
12.01
6.14
5.29
5.90
8.04
10.94

3.45
4.01
5.40
4.00
5.78
9.15
6.29
5.55
4.97
10.78
11.34
6.24
5.25
6.14
8.45
11,43

3.36
4.08
5.53
3.88
5.92
9.00
6.20
5.20
5.04
10.01
10.06
5.82
5.03
6.47
8.96
13.77

3 .52
4 .10
5 .77
4 .12
5 .81
8 .85
5 .60
4 .91
3 .06
10 .03
9 .45
5 .22
4 .95
6 .51
9 .76
13 .18

3.8S
4.32
5.40
4.51
6.02
8.97
4.90
4.14
5.33
9.95
8.53
5.20
4.65
S.S6
10.03
13.78

3.46
3.97
4.56
4,82
4.79
6.58
8,57
3.86
3,54
6.54
9.32
5.30
4,83
4.66
6.76
10.07

3.49
4 . 08

:,.49

D I F F U S I O N I N D E X OF I N I T I A L CLAIMS* FOR UNEMPLOYMENT I N S U R A N C E , STATE PROGRAMS — 51 AREAS
( P E R C E N T D E C L I N I N G OVER 1-MONTH SPANS)

33.3
21.6
60,6
60.8
84.3
35.3
7.8
37.3
88.2
61.8
76.5
23.5
11.8

1964...
1963...
1966...
1967...
1968...
1969...
1970...
1971...
1972. ..
1973...
1974.,,
1973.. .
1976...
1977...
1978...
1979...
1980...

74.5
96.1
47.1
47.1
18,6
54.9
17.6
84.3
78.4
37.3
3.9
51.0
94.1
39,2
33.3
U.8

Annual

IV Q

AVERAGE FOR PERIOD

1.29
2.50
3.00
1,67
2,40
3.97
2.54
2.37
3.00

1952...
1953...
1934...
1935.,.
1956...
1957...
1958.,,
1959..,
1960...
1961...
1962...
1963...

III Q

®

1.37
2.44
2.93
2.72
2.48
3.99
1.45
2,14
2.91

962.
1948. ..
1949. ,.
1930. , ,
1951.. .

June

3.99
5.98
8.33
7.88
4.56
4.30
7.82
11.25
5.42
3.20
5.16
7.28
10.18

1.92
2.81
3.24
1.32
3,57
2.94
1.68
2.85
3.33
3.46
4.07
3,41
3.B9
5.94
8.98
6,70
3.48
4.74
10. 56
12.09
6.16
5.28
3.82
8.10
10,95

1.02
2.36
2.93
3.23
3.16
3.99
2.30
2.40
2.92
3.45

1.78
2.73
3.11
1.57
3.30
3.22
1.96
2.68
3.18

3 . 38
4,17
5.57
4.1?
3.92
8.94
3.37
4.75
5.14
10.00
9.15
5.41
4.88
6.31
9.38
13.S8

3.30
4.07
5.11
4.22
5,66

n,ai

7.17
4.66
4.44
8.74
10.51
5.82
5.03
3.54
7.94
11.20

AVERAGE FOR PERIOD

90!2

85.3
41.2
47.1
31.4
49,0
60.8
63,7
27,5
62.7
9.8
70.6
39,2
72.5

25.5
26.5
63.7
62.7
76.5
39.2
15.7
36.3
57.8
86.3
77.5
47.1
17.6

45.1
38.8
39.2
52.9
47.1
29.4
35.3
70.6
85.3
27.5
29.4
25.5
51.0

66.7
49.0
28.*
35.3
51.0
66.7
83.3
45,1
17.6
25. 5
74.5
6B.6
76.5

31.4
41,2
47.1
82.4
80.4
27.5
23.5
76.5
21.6
60.8
74.5
39.2
21.6

74.5
27.5
92.2
23.5
17.6
29,4
56.9
58.8
76.5
52,9
3.9
35.3
41.2
74.5

S8.8
68.6
62.7
19.6
41.2
72.5
58.8
15.7
39.2
29.4
72.5
70.6
76.5
23.5

41.2
39,2
54.9
27.5
90.2
52.9
35.3
26.5
86.3
31.4
47.1
76.5
24.5
47.1

45.1
60,8
54.9
15.7
70.6
31.4
49.0
52.9
82.4
37.3
25.5
37.3
79.4
82.4

72.5
48.0
11,8
43.1
74.5
62.7
70.6
27.5
19.6
78.4
58.8
94.1
66.7
13,7

56.' 5
47,4
51.0
37.3
69.3
41.8
52.6
28,8
71,5
31.1
52.3
49.0
58,2

41.8
44.8
43.8
50.3
5H.2
45.1
44.8
51). 7
53.6
46.4
60.5
47.1
4H.4

42.5
63.4
30,1
47.1
60.8
47.7
32.7
64.1
34.6
45.7
60.1
52.3
39.9

32,9
49.1
40,3
28.8
78,4
49.0
51.6
35,6
62. B
49.0
43,8
69.3
56.9
47.7

48.3
49.5
38.4
53.3
59.3
46.6
41.4
31.6
32.2
41.8
60,6
51,3
4H.5

70.6
19.6
45.1
22.5
78.4
49.0
48.0
29,4
19,6
78.4
74.5
35.3
41.2
23.5
47.1
72.5

23.5
39.2
36.3
40.2
76,5
76.5
25.5
11.8
68.6
31,4
80.4
72.5
10.8
49.0
34.9
68.6

47.1
64.7
74.5
39.2
33.3
33.3
19.6
98.0
82.4
35,3
23.5
30,4
52.9
68.6
82.4
7.8

82.4
78,4
27.5
41.2
58.8
82.4
72.5
76,5
5.9
28.4
33.3
68.6
56.9
23.5
11.8
66.7

17.6
11.8
58.8
78.4
80.4
25. S
27.5
5.9
S4.9
72.5
80.4
73.5
0.
37.3
58.8
66.7

74.5
81,4
38.2
33.3
17.6
35.3
66.7
68.6
59.8
19.6
11.8
62.7
66.7
80.4
49.0
37.3

74.5
45.1
29.4
66.7
57.8
63.7
62.7
31.4
52.0
33.3
43.1
82.4
29.4
24.5
42.2
54. 9

21.6
64.7
80.4
71.6
S6.9
27.5
13.7
62.7
74.5
92,2
15.7
13.7
38.2
82.4
94.1
86.3

74.5
80.4
35.3
45.1
49.0
48.0
58.8
88.2
43.1
15.7
3.9
76.5
90.2
76.5
25.5
8.8

37.3
34.3
29,4
62.7
58.8
56.9
58.8
19.6
49.0
51.0
29.4
94.1
29.4
41.2
29.4
53.9

51.0
64,7
39,2
64.7
39.2
17.6
56.9
76. S
82.4
47.1
5.9
21.6
90.2
90.2
86.3
68.6

56.9
51.6
59.5
36.6
57.8
60.1
30.4
41. B
5S.5
49.0
S2.9
S2.9
48.7
37.9
45.1
51.0

49.0
51.6
S3. 6
52.9
57. 5
47.1
39.9

56.9
63.7
49.3
57.2
44.1
42.2
47.7
54.2
62.1
40.4
23.5
52.9
44.8
62,4
61.8
59.3

54.3
59.8
34.6
57.5
49.0
40.8
58.2
61.4
58,2
37,9
13.1
64,1
69,9
69.3
47,1
43.8

34.3
56.7
49.3
51.1
52 . 1
47.6
44.0
54.4
55.9
45.2
33.8
56.9
50.0
33.2
51.2
50.3

31.0
79.4
37.3
19.6
74,5
29.4
86.3
21.6
63.7
21,6
9.8

9 6 2 . D I F F U S I O N I N D E X 06' I N I T I A L CLAIMS FOR UNEMPLOYMENT I N S U R A N C E ,
( P E R C E N T D E C L I N I N G OVER 9 -MONTH SPANS)

47!?
45.4
43,7
57.5
36.6
43.1
51.0
47.1

STATE PROGRAMS— SI AREAS
AVERAGE FOR PERIOD

1948...
1949...

1950...
1931...
1952...
1933...
1934. . .
1955...
1956..,
1957...
1958...
1959...
I960...
1961...
1962...
1963..,
1964...
1965...
1966...
1967...
1968...
1969...
1970...
1971...
1972...
1973,, .
1974.,.
197S...
1976...
1977...
1978...
1979...
1980...
NOTE:

52.9
60.8
37.3
3.9
98.0
41.2
23,5
3.9
96.1
19.6
47.1
80.4
34.9

34.9
43.1
20.6
9.8
96.1
31.4
31.4
7.8
94,1
15.7
52.9
82.4
64.7

41.2
31.4
24.5
23,5
94.1
23. S
31,4
16.7
76.5
31.4
70.6
34.9
72.5

35.3
74.5
3.9
17.6
80.4
39.2
43.1
33.3
58.8
17.6
68.6
60.8
67.6

35. 3
70,6
11.8
21.6
94.1
43.1
13.7
39.2
76.5
5.9
84.3
47.1
51.0

33,3
84.3
5.9
33.3
86.3
31.4
9.8
74.5
37.3
3.9
78.4
35.3
82.4

41.2
76.5
2.0
76.5
60.8
41.2
0.
96.1
IS. 7
5.9
86.3
25.5
80.4

25.5
47.1
2.0
88.2
70.6
43.1
3.9
90.2
27. S
23.5
94.1
45.1
17.6

21.6
82.4
3.9
94.1
56.9
9.8
5.9
98.0
31.4
9.8
88.2
17.6
72.5

3S.3
60.8
7.8
98.0
39.2
47.1
3.9
98.0
3.9
3.9
96.1
60.8
88.2

25.5
58,8
9.8
94.1
60.8
16.9
0.
100,0
7.8
5.9
90.2
70.6
54.9

21.6
70.6
2.0
92.2
37.3
41,2
0.
98.0
35.3
15.7
82.4
46.1
74.5

49.7
45.1
27.5
12,4
96.1
32.7
28.8
9.5
88.9
22.2
56.9
72.6
64.0

34.6
76.5
7.9
24.2
86.9
37.9
22.2
49.0
57. S
9.1
77.1
47.7
67.0

29.4
68.7
2.6
86.3
62.8
31.4
3.3
94.8
24.9
13.1
89.5
29.4
56.8

27. S
63.4
6.S
94.8
45.8
49.4
1.3
98,7
15.7
8.3
89.6
59.2
72.5

33. 3
63.4
11.1
54.4
72.9
37 , 6
13.9
63,0
46.7
13.2
78.3
52.2
63.1

76.5
78.4
88.2
11.8
76. S
64.7
2.0
52.9
78.4
66.7
10.8
2.0
76. S
74.5
76.5
46.1

74.5
78.4
90.2
15.7
86.3
43.1
2.0
60.8
72.5
60.8
21.6
2.0
69.6
70.6
56.9
27.5

88.2
88.2
72. S
25.5
74.5
31,4
0.
70.6
62.7
S1.0
9.8
21.6
70.6
68.6
47.1
25.5

80.4
86.3
70.6
35,3
68.6
43.1
3.9
45.1
84.3
37.3
21,6
31.0
22. S
57.8
52.9
36.9

84.3
84.3
80.4
45.1
68.6
37.3
0.
47.1
82.4
35.3
7.8
58,8
29.4
53.9
60.8
49.0

86.3
82.4
70.6
43.1
94.1
37.3
2.0
52.9
58.8
33.3
13.7
75.5
17.6
74.5
60.8
31.4

61.8
90.2
62.7
82.4
79.4
35.3
5.9
41.2
78.4
7.8
9.8
92.2
17.6
65.7
51.0
21.6

64.7
90.2
29.4
80.4
53.9
12.7
13.7
84.3
76. S
21.6
2.0
82.4
62.7
82.4
76.5
23.5

100.0
88.2
5.9
62.7
60.8
3.9
70.6
70.6
4S.1
2.0
0.
98.0
56.9
68.6
15.7
49.0

64.7
62.7
12.7
86.3
54.9
2.0
51.0
41.2
96.1
15.7
3.9
92.2
37.3
70.6
51.0
35.3

72.5
96.1
5.9
88.2
41,2
2.0
2S.5
84.3
88.2
IS. 7
0.
88.2
88.2
78.4
66.7
33.3

66.7
92.2
7.8
74.5
62.7
2.0
49.0
90.2
78.4
23.5
0.
88.2
88.2
86.3
29.4
S.9

79.7
81.7
83.6
17.7
79.1
46.4
1.3
61.4
71.2
59.5
14.1
8.3
72.2
71.2
60.2
33.0

83.7
84.3
73.9
41.2
77.1
39.2
2.0
43.4
75.2
35.3
14.4
61,8
23,2
62,1
S8.2
4S..8

75.3
89.5
32.7
75.2
64.7
17.3
30.1
63.4
68.7
10.5
3.9
90.9
45.7
72.2
47.7
31.4

68.0
83.7
8.8
83.0
52.9
2.0
41.8
71.9
87,6
18.3
1.3
89.3
71.2
78.4
49.0
24.8

76,7
84.8
49,7
54.2
68.3
26.2
18.8
61.8
73.2
30.9
8.4
62.7
53.1
71,0
53.8
33.8

These series contain no revisions but are reprinted for the convenience of the user.

100



{NOVEMBER '

C. Historical Data for Selected Series—Continued
Quarterly

Quarterly
Year

IQ

II Q

Annual
III Q

IV Q

345. AVERAGE HOURLY COMPENSATION, ALL EMPLOYEES, NONFARM
BUSINESS SECTOR
(INDEX: 1967 = 100),

1964. . . .
1965
1966
1967
1968
1969
1970. . . .
1971
1972
1973. . .
.
1974.
1975
1976.
. ,
1977
1978 . . .
1979 . . .
1980

AVERAGE

41.5
43.1
45.1
49.3
51.9
55.0
56.8
58.8
62.4
66.0
68.5
71.4
74.6
77.1
80.0
82.4

42.4
43.2
45.9
50.0
52.4
55.6
57.2
59.5
63.3
66.8
69.4
71.9
75.0
77.5
80.4
83.1

42.9
43.2
47.1
50.7
53.6
56.0
57.6
60.1
64.2
67,5
70.0
72.6
75.5
78.2
81.3
84.3

41.9
43.1
45.6
49.6
52.3
55.2
57.0
59.1
62.8
66.4
68.9
71.6
74.8
77.2
80.2
82.9

85.4
88.3
92.7
98.1
104.7
111.5
118.8
127.2
135.5
145.6
156.1
174,0
188.0
204.1
220.5
239.5

86.1
89.0
94.3
99.4
106.3
113.3
120.7
129.3
137.3
147.8
160.4
177.5
192.0
207.3
224.4
244.2

87.4
90.0
95.7
100.6
108.0
115.0
123.2
131.6
139.2
150.4
164.8
180.6
195.7
211.1
228.9
249.2

88.0
91.2
96.9
101.9
110.0
117.0
124,6
132.3
141.2
153.0
169.6
184.2
199.8
214.6
233.7
254.6

86.7
89.6
94.9
100.0
107.3
114.2
121.9
130.1
138.3
149.2
162,7
179.1
193.8
209.2
226.9
247.1

345-C. 4-QUARTER PERCENT CHANGE IN AVERAGE HOURLY
COMPENSATION, NONFARM BUSINESS2
(ANN. RATE, PERCENT)

AVERAGE

1948
1949
1950
1951
1952
1953
1954
1955. . .
.
1956
1957
1958
.
1959
1960
1961
1962 . .
..
1963

8.8
1.8
6.3
9.0
4.8
6.0
2.9
4.1
6.4
5.5
3,9
3.6
4.3
3.4
3.7
3.4

7.8
0,8
8.9
7.7
5.7
4.5
2.9
4.3
6.8
5.2
3.7
3.7
4.1
3.5
3.9
3.7

5.5
3.2
8.6
6.4
5.6
4.2
3.0
5.3
6.6
4.1
4.2
4.6
3.1
4.2
3.3
4.0

3.9
4.6
9.3
5.4
5.9
3.2
3.5
6.1
5.8
3.8
4.2
4.4
3.4
3.7
3.0
4.6

6.5
2.6
8,3
7.1
5.5
4.5
3.1
5.0
6.4
4.6
4.0
4.1
3.7
3.7
3.5
3.9

1964
1965
1966
1967
1968
1969
1970
1971
1972
1973
1974
1975
1976
1977
1978
1979
1980

5,1
3.0
6,3
5.2
7,4
6.4
7.2
6.8
5.8
8.0
9,6
9.6
8.4
7.9
8.4
8.9

4.4
3.7
6.2
5.2
8.0
6.3
6.5
6.2
6.8
8.3
10.8
8.6
8.5
7.4
8.9
8.9

3.4
5.0
5.9
6.7
6.5
6.6
7.1
6.5
7.4
7.3
11.4
8.1
8.6
8.0
8.6
9.0

3.4
6.0
5.4
7.0
6.6
6.6
7.1
6.2
7.6
8.6
10.6
8.2
8.0
8.2
8.8
9.7

4.1
4.4
6.0
6.0
7.1
6.5
7.0
6.4
6.9
8.0
10.6
8.6
8.4
7.9
8.7
9.1

,t
...

, ,

346-C. CHANGE FROM PRECEDING PERIOD IN REAL AVERAGE HOURLY
COMPENSATION, NONFARM BUSINESS
(ANNUAL RATE, PERCENT)

PERCENT
CHANGE1

1948
1949
1950 . .
..
1951
1952..,,.
1953
1954
1955
,t .
1956
..
..
1957
1958
1959
I960
1961
1962
1963

1.7
5.2
12.9
-6.1
3.5
5.7
2.7
3,4
7.7
3.5
-2.3
3.9
7.8
3.2
4.9
2.9

-0.3
0.7
2.6
4.5
3.2
4.3
2.4
4.3
4.6
1.0
0.7
2.8
0.6
4.5
1.0
0.5

2.6
4.3
0,2
6.8
1.4
2.2
3.9
5.0
2.0
1.1
5.2
0.7
1.9
0.3
1.1
1.3

8.8
1.7
2.3
-0.6
9.0
2.5
4.7
3.0
2.2
2.6
3.4
1.2
0.5
3.2
3.2
4.3

0.7
4.0
4.7
0.6
3.3
4.8
2.8
4.0
4.6
2.3
1.0
3.1
2.7
2.2
2.7
2.1

1964
1965
1966
1967
1968
1969
1970
1971
1972
1973
1974
1975
1976
1977
1978
1979
1980

3.8
0.1
2.6
4.1
6.9
0.5
-0.1
5.0
6.0
5.3
-3.9
2.0
3.7
0.8
3.4
-0.9

2.9
0.7
3.6
3.0
2.4
0.1
0.7
2,4
2.6
-1.9
-0.1
3.2
5.0
-0.6
-2.0
-4.2

5.1
3.5
2.2
0.9
1.4
0.4
3.9
3.3
2.3
-0.7
-0.3
-0.9
1.7
1.6
-0.7
-4.3

0.9
3.2
1.5
1.0
2.1
0.9
-1.0
-0.2
2.1
-2.5
-0.6
0.2
2.9
0.9
-0.8
-4.0

3.2
1.7
2.9
2.5
3,0
1.0
0.7
2.4
2.9
1.5
-1.7
0.8
2.3
1.4
0.8
-2,1

. . .

ll Q

IQ

40.8
43.1
44.4
48.2
51.4
54.2
56.5
58.2
61.3
65.3
67.9
70.8
74.0
76.3
79.5
82.1

1948 .
1949.
,
1950
1951
1952. . .
..
1953
1954 . . .
.
1955
1956
1957
1958 . , .
1959 ,
1960
1961
1962.
.
1963.

Year
III Q

345-C. CHANGE FROM PRECEDING PERIOD IN AVERAGE HOURLY
COMPENSATION, NONFARM BUSINESS
(ANN. RATE, PERCENT)
1948
1949
1950
1951
1952
1953
1954
1955
1956
1957
1958
1959
I960
1961
1962
1963

. , ,

..
..

.4 . ,
..
..
..
..
.

1964.,..,
1965
1966
1967
1968
1969
1970
1971
1972
1973 . . .
1974
1975
1976. . .
..
1977, . .
.
1978
1979
1980

9.6
0.8
7,7
6.5
4.0
4.1
2.9
5.2
6.2
4.7
5.1
2.7
2.1
2.0
2.2
3.8

4.7
0.5
10.8
5.5
9.4
3,4
3.3
4.3
5.7
4.6
3.7
3.7
3.1
3.7
4.4
5.6

8,5
3.0
5.7
8.7
5.5
5,6
3.2
3.7
6,2
5.8
3.8
3,9
4.4
3.3
3.9
3.3

5.4
1.4
6.5
5.4
11.6
5.4
6.6
8.7
10.0
12.8
8.5
10.9
8.5
8.8
11.4
10.2

3.5
3.3
7.4
5.2
6.3
6.6
6.5
6.7
5.6
6.2
11.4
8.2
8.7
6.5
7.3
8.1

6,0
4.7
5.8
5.0
6.6
6.1
8.6
7.3
5.7
7.2
11.4
7.4
8.1
7.5
8.4
8.5

2.8
5.4
5.0
5.1
7.7
7,0
4,4
2.1
5.8
7.1
12.0
8.1
8.7
6.8
8.6
9.0

4.5
3.4
5.9
5.3
7.3
6.4
6.7
6.7
6.3
7.8
9.1
10.0
8.2
8.0
8.5
8.9

AVERAGE

57.7
60.0
62.9
62.7
64,9
68.0
70.0
72.5
76.1
78.5
78.9
81.5
84.1
85.4
88.1
89.9

1964
1965
1966 .
1967
1968
1969
1970
1971
1972
1973
L974
1975
1976
1977
1978 , . .
.
1979
1980

57.7
60.1
63.3
63.4
65.4
68.7
70.4
73.3
77.0
78.7
79.1
82.1
84.2
86.3
88.3
90.1

58.0
60.8
63.3
64.4
65.6
69.1
71.1
74.2
77.4
78.9
80.1
82.2
84.6
86.4
88.6
90.3

59.3
61.0
63.7
64.3
67.1
69.5
71.9
74.7
77.8
79.4
80.7
82.5
84.7
87.1
89.3
91.3

58.1
60,4
63.3
63.7
65.8
68.9
70.8
73,7
77.1
78.8
79.6
82.1
84.3
86.2
88.5
90.4

92.1
94.2
96.5
99.3
102.2
103.8
104.2
106.4
109.4
112.8
110.2
110.5
112.2
115.1
116.6
115.3

92.8
94,4
97.4
100.0
102.8
103.9
104.4
107.0
110.1
112.2
110.2
111.4
113.6
114.9
116.0
114.1

94,0
95.2
97.9
100.2
103.2
104.0
105.4
107.9
110.7
112.0
110,1
111.1
114.1
115.4
115.8
112.9

94,2
95.9
98.3
100.5
103,7
104.2
105.1
107.8
111,3
111.3
110.0
111.2
114.9
115.6
115.6
111.7

93.2
94,8
97.6
100.0
103.0
104.0
104.8
107.2
110.4
112.1
110.2
111.1
113.7
115.3
116.1
113.7

346-C. 4-QUARTER PERCENT CHANGES IN REAL AVERAGE HOURLY
COMPENSATION, NONFARM BUSINESS2
(ANNUAL RATE, PERCENT)
1948
1949
1950
1951
1952
1953
1954
1955
1956
1957
1958
1959
I960
1961
1962
1963

PERCENT,
CHANGE 1

6.4
0.3
5.9
8.7
4.4
5.7
1.9
4.1
7.4
4.6
3.4
3.6
3.1
4.4
2.5
1.3

346. REAL AVERAGE HOURLY COMPENSATION, ALL EMPLOYEES,
NONFARM BUSINESS SECTOR
(INDEX: 1967=100)
1948
1949
1950
1951 .
1952
1953
1954.
1955
1956 .
1957
1958
1959
I960
1961 .
1962
1963

Annual

10.6
1.3
11.4
10.1
5.1
4.8
3.5
3.7
7.7
6.9
2.5
4.6
8.3
4.1
6.7
4.1

. .

.

1964
1965
1966
1967
1968
1969
1970
1971
1972
1973
1974.....
1975
1976
1977
1978
1979
1980.....

AVERAGE

0,3
4.7
4.2
1.8
1.9
5.3
2.9
4.3
4,3
1.9
1.5
2.7
2.9
2.1
2.6
2.0

3.1
2.9
4.4
1,0
4.2
3.7
3.4
3.9
4.1
2,0
1.7
2.2
2.7
2.8
2.6
2.2

4.0
4.8
-0.3
3.5
4.8
2.9
3.6
5.0
3.1
0,6
3.3
3.1
1.6
3.2
2.1
2.5

4.3
5.3
0.2
3.2
5.1
2.4
4.1
5.1
2.1
0.5
3.8
2.5
2.5
2.4
1,9
3,1

2.9
4.4
2,1
2.4
4.0
3.6
3.5
4.6
3.4
1.2
2.6
2.6
2.4
2.6
2.3
2.4

4.0
1.3
2.9
2.4
2.9
0.8
1.3
2.4
2.6
1.2
-1.7
0.9
2.7
1.1
0.4
-2.6

3.1
1.9
2.5
2.2
3.2
0.5
0.9
2.6
3.2
0.
-1.2
1.1
3.3
0.7
0.
-3.4

2.2
2.5
2.9
2.9
1.6
0.3
2.1
2.8
3.1
-2.3
0.2
1.6
2.6
1.3
-1.1
-4,5

1.7
3.2
2.7
2.8
1.0
0.5
2.6
2.9
1.9
-1.8
1.1
2.Q
1,2
1.0
-1.7
-4.1

2.8
2.2
2.8
2.6
2.2
0.5
1.7
2,7
2,7
-0.7
-0.4
1.4
2.4
1.0
-0.6
-3.6

'Year-to-year changes are computed from annual data. ^Percent changes are centered on the 3d quarter of the span. Annual figures are averages of
the centered changes.




IV Q

(NOVEMBER 1980)

101

C. Historical Data for Selected Series—Continued
Quarterly

Monthly
Year

Jan.

Feb.

Mar.

Apr.

May

June

July

Aug.

732. U N I T E D KINGDOM— INDEX OF CONSUMER PRICES*
(1967=100)

Sept.

Oct.

Nov.

Dec.

IQ

©

48.4
50.8
52.8
54. 5
61.6
64.7
65.3
68.0
71.3
74.5
77.1
78.7
78.4
80.1
83.8
86.1

49.5
SO. 8
52.8
55. 0
62.0
64.7
65.3
68.0
71.3
74.4
76.7
78.7
78.4
80.1
83.9
86.8

49.5
30.8
52,8
55,5
62.0
65.3
65.7
68.0
72.3
74,3
77.3
78.7
78.3
80.4
84.3
87.0

50.4
50.8
53.1
56.4
63.0
65.7
66.2
68.5
73.7
74.5
78.1
78.1
78,7
80.8
85.4
87.2

SO. 4
51.7
53.1
57.8
63.0
65.3
65.7
68.5
73.2
74.6
77.9
77.9
78.7
81.1
83.7
87.1

51.4
51.7
53.1
S8.3
64.4
65.7
66.2
69.9
73.2
75.4
78.6
77.9
79.1
81.7
86.3
87.1

50.4
51.7
53.1
S8.8
64.4
65.7
67.7
69.9
72.7
76.0
77.3
77.8
79.3
81.7
85.9
86.6

SO. 4
51.7
52.8
59.2
63.9
65.3
67.1
69.4
73.2
75.9
77.3
77,9
78.7
82. 6
85.2
86.4

50.4
32.1
53.1
59.7
63.3
65.3
66.6
69.9
73.2
75.7
77.3
77.6
78.7
82.4
85.1
36.6

50.4
52.4
53.6
60.2
64.4
65.3
67.1
70.9
73.7
76.4
78.0
77.9
79.4
82.6
85.0
87.0

1964...
1965...
1966...
1967...
1968...
1969...
1970...
1971...
1972...
1973, .,
1974...
197S...
1976...
1977...
1978...
1979...
1980...

87.8
91,8
93.8
99.3
101.9
108.2
113.5
123.3
133.3
143.6
160.6
192.6
237.6
276.9
304.4
132.9

87.9
91.8
95. 9
99.4
102.5
108.8
114.1
123.9
134,0
144.5
163.4
193.8
240.6
279.7
306.2
335.6

88,1
92.1
96.0
99.4
102.7
109.2
114.8
124.9
134.3
145.4
164.8
199.7
241.9
282.4
308.1
338.3

89.0
93,9
97,2
100.1
104.6
110.3
116.6
127,6
133.6
148.1
170.4
207.4
246.6
289.6
312.6
344,1

89.7
94.2
97.9
100.1
104.7
110.3
116.9
128.4
136.3
149.2
172.9
216.1
249.3
291.9
314.4
346.8

90.0
94.5
98.1
100.5
105. 1
110.7
117.3
129.4
137.3
149.9
174,6
220.2
230,6
294.9
316.8
352.8

90.0
94.5
97.8
99.9
105.2
109.9
118.1
130.1
137.6
150.6
176.2
222.5
251.1
295.3
318.2
368.0

90.0
94.6
98.4
99.9
105.4
110.5
118.0
130.2
138.7
151.0
176.4
223.8
254.6
296.7
320.3
370.9

90.4
94.7
98.1
99.6
105.4
110.9
118.6
130.3
139.5
152,4
178.3
225.7
258.0
298.3
321.6
374.6

90.5
94.3
98.4
99.6
106.0
111.6
119.9
131.1
141.4
155.3
181.8
228.9
262.7
299.6
323.1
378.5

SO. 8
52.2
34. 1
60.2
64.4
63.3
67.7
71.8
73.7
76.9
78.3
78.5
79.8
83.4
85.3
87.2

1964...
1965...
1 QKfi ...
1 3ft«

1967...
1968,..
1969...
1970...
1971...
1972...
1973...
1974...
1975...
1976...
1977...
1978...
1979...
1980...

a. 8

5.6
3.2
1.4
8.0
5,9
6,7
10.8
4.8
7.5
18.1
27.3
13.5
19.4
6.7
11.4

0.4
6.8
2.3
14.3
5.2
-0.6

2.4
2.7
4.2
8.9
4,5
-0,3

-1.6
5.5
5.4
9.5
1.3
0.

2.4
5.1
6.5
10.9
2.2
0.3

7.6
2.8
0,
13.2
7.9
1.5

4.5
4.0
0.
15.4
5.9
1.2

3 .2
4.8
0.8
15.3
4.2
0.

3.8
S.4
4.1
2.1
-1.5
1.3
6.8
3.6
-0.7

6.6
3.3
4.9
1.0
-1.8
1.8
S.8
2.4
-0.7

7.8
0.5

9.2
0.8

5.8
2.5

3!9
-1.5
1.0
3.5
5,6
1.6

4.2
3.1
3.2
0.3
-2.5
2.1
3.3
4.6
0,7

0.5
0.3
2.8
6.1
0.5
1.4

0.5
1.3
2.8
6.3
-0.2
1.6

4.6
S.3
3,6
1.2
6.0
4.3
6.1
11. S
5.0
7.3
18.5
32,4
9.8
15.6
6.8
13.2

4.6
5.5
3.8
0.8
6.2
2.6
7.5
10,3
5.2
8,4
18.1
30,6
9,3
12.3
8.4
21.5

4.8
6.2
5.5
1.2
3.9
3.5
7.3
10. 7
7.3
9.2
16.1
29.8
11.5
12.0
9.0
21.4

5.S
5.9
4.6
0.8
6.1
3.9
7.4
9.5
0.3
10. 1
17.3
28.0
14.0
11.4
8.5
22.1

5.3
3.9
1.0
4.9
4.6
7.9
7,7
11,0
12.1
16.4
24.5
16,0
9.4
8.8
23.2

2.8
3.1
13.8
9,3
3.1
1.5
3.0
4.5

2.4
0.
14.3
11.5
2.8
1.8
6.0
3.7

a!2
-0.3
0.5
3,0
4.9
3.1
4.4
5.1
4.0
0.8
5.8
6.1
7.1
11.0
4,7
7.7
18,6
32.0
11,8
17.1
6.5
11.4

91.2
95.2
98.9
100.9
106.2
111.9
120.7
131.8
142.0
156.5
185. 1
231.6
266.3
301.0
325.3
381,8

49.1
SO. 8
52,8
S5.0
61.9
64.9
65.4
68.0
71.6
74.4
77.0
78.7
78.4
80.2
84.0
36.6

SO. 7
51.4
53.1
57.5
63.5
65.6
66.0
69.0
73.4
74.8
78.2
73.0
73.8
81.2
83.8
87.1

SO. 4
51.8
33,0
39.2
63.9
65.4
67.1
69.7
73.0
75.9
77.3
77.8
78.9
82.2
85,4
86,3

50.7
52.5
34.0
60.1
64.4
65.3
67.5
71.3
73.8
76.8
78.3
78.3
79.7
83.2
85.4
87.2

50.2
51.6
53.2
58.0
63,4
63.3
66. S
69.6
73.0
73.3
77.7
78.2
79.0
81.7
85.1
86.9

91.3
95.7
99.2
101.4
107.6
112.7
121,5
132.5
142.7
157.7
187.8
234.5
269.9
302.6
328.0
384.6

87,9
91,9
95,9
99.4
102.4
108.7
114.1
124.0
133.9
144. S
162.9
196.0
240.0
279.7
306.2
335.6

H').6

90.1
94.6
98.1
99,8
105.3
110.4
118.2
130.2
138.6
151.3
177.0
224.0
254.6
296.8
320.0
371.2

91.0
93,2
98.3
100,6
106,6
112.1
120.7
131.8
142.0
156.5
184.9
23.1.7
266.3
301.1
325.5
381,6

89.7
94.9
97.6
100.0
104.8
110.4
117. S
128.6
137.7
130.4
174,4

9-1.2
97,7
100.2
104.8
110.4
116.9
128.5
136,4
14§.l
172.6
214,6
248.8
292.1
314.6
347.9

a 16. 6

252.4
292.4
316.6
339.1

AVERAGE POR PERIOD

5.2
5.9

0 .8
4.3
8,9
10.0
2.8
0.6
3.0
5.8
3.3

2 .0
3.1
9.6
8.2
6.4
0.9
3,6
6.1
2,2

1,8
12.9
9.9
3.1
1.8
4.*2
5.2

-0.3
1,8
2.8
5.5
0.2
1.9

3.9
1.8
2.5
5.7
0.9
3.5

3.1
0.3
3.1
2.7
3.3
3.5

2,6
0.8
3.6
3.9
4.3
3.2

3.7
-0.8
0.9
2.9
5.3
2.7

4.8
3.9

4.8
4.1

4.5
3,2

4.0
2.5

3.9
5.3
3.6

3.4
4.7
4.8
8.6
7.3
10.9
12.7
18.1
18.9
18,2
9.1
9.4
23.7

3.2
6.4
5.3
9.1
7.0
10.7
13.9
19.9
18.0
20.7
8.0
9.8
21.5

4.5
6.2
7.2
9.9
6.1
10.5
IS. 5
22.0
16.6
23.8
7.3
10.3
15.4

5.1
6.3
6.2
10.0
5,7
8.5
17.3
23.7
16.3
20.7
6.9
10.2
16.8

3.8
2.5
2 5
s!7
6.5
6.4
10.3
5.9
8.4
17.0
25.4
14.7
18.8
6.9
11.2
17.4

6.6
5.4
6.8
11,1
4,8
7.6
18,4
30.6
11.7
17.4
6.7
12.0

733. CANADA—INDEX OF CONSUMER PRICES*
(1967=100)

Annual
IV Q

50.8
52.3
54.2
60.6
64.4
65.3
67.7
71.8
74,1
77.2
78.6
78.6
80.0
83.5
85.8
87.3

732-e. CHANGE IN INDEX OP CONSUMER PRICES — UNITED KINGDOM, OVER 6-MONTH SPANS 2
(COMPOUND ANNUAL RATE, PERCENT)
1.2
2.3
10.3
8.8
3.4
2.2
3.6
7.S
1 6
4!o
-0.5
1.3
2.3
5.4
3.5

III Q 1

AVERAGE TOR PERIOD

1540...
1949...
1950...
1951...
1952...
1953...
1954...
1955...
1956...
1937...
1958...
1959...
I960...
1961...
1962...
1063...

1948 . . .
1949...
1950...
1951...
1952...
1953...
1954 ...
1955...
1956...
1957
1950.'!!
1959...
I960...
1961...
1962.,,
1963...

II Q

2*!i

i!i

©

5.1
3,9
0,3
15.3
6.0
0.9
4 ,9
4,9
3,9
4>1
1. 1
-1.9
107
5, ,4
3,5
-0,2

0.4
5.0
4.0
10.9
3.7
-0.3
4.7
7.6
1,3
3. 1
0.2
1.1
2.8
6.0
0.2
1.6

1.7
4.2
U.3
9.7
3.8
0.6
3.0
3!?
3.8
2.8
3.*2
1,1
3.1
4.1
2.8
3.4

3,6
3. 7
2.1
-0.1
2.1
4.6
3.0
1.9

S,Q
5.9
4,6
o!9
6.1
3,3
7,4
10.2
6.9
9.2
17.2
29.5
11.6
11.9
8.6
21.7

5.0
4.0
3.9
2!5
3.3
4.9
8.3
7.3
10.9
12.9
18.1
20.3
18.3
8.8
9.3
22.8

4.1
2.7
2.6

4.3
4.3
3. 7

s!i

6.3
6.6
10.1
3.9
9.1
16.7
23.7
IS. 9
21.1
7.0
10.6
16.5

3.8
3.6
12.2
5.8
l.l
3.6

s!e

a!4

6.1
3.1
8.2
8.6
7.9
11.6
19.4
24.1
15.7
11.3
8.8
18.2

AVERAGE FOR PERIOD

64.:?

1948...
1949...
1950...
1931...
1952...
1953...
1954...
19SS...
1956...
1957...
19S8...
1959...
I960...
1961...
1962...
1963...

62.2
67.0
67.2
72.2
79.2
77.6
77.6
79.1
78.3
80.7
82.7
84.6
05.5
H6.6
87.0
88. S

63.0
66.9
67.2
73.3
78.9
77.4
77.6
78.0
78.1
80.8
83.0
84.3
85.3
86.4
87.1
80.7

63.4
66.6
67.6
74.4
78.4
77.0
77.4
77.8
78.1
80.8
83.4
84.2
85.1
86.5
87.0
8§.7

63,6
66.6
67.9
74.9
78.3
76.9
77.5
77.9
78.2
81.1
83.9
84.2
85. S
86.5
87.4
88.8

64.3
66.5
67.9
73.3
77.8
76.7
77.4
78.1
78.2
81.1
83.8
84.2
8S.4
86.5
87.2
08.8

64.8
66.7
68.3
76.2
77.8
77.0
77.9
77.8
79,0
81.6
83.8
84.3
85. 6
86.5
87.5
89.1

65.7
67.1
68.9
76.9
77.9
77.4
77.9
77.8
79.4
81.8
83.6
84.3
8S.5
86.5
87.9
89.4

66.1
67.3
69.6
77.4
77.8
77.6
78.5
78.1
79.9
82,2
83.9
84.7
83.7
86.5
88.1
89.9

66.6
67.3
69.9
78.1
77.9
77.9
78.3
78.3
79.8
82.7
84.2
85.3
86.1
86.5
87.9
39.4

67.0
67. S
71.0
78,5
77.8
78.2
78.3
78.4
80.3
82.7
84.5
85.3
86.9
86.6
88.2
89.6

67.0
67.8
71.3
79.1
77.9
77.9
78.3
78.4
80.7
82.7
84.7
86.1
36.9
87.0
88.4
89.9

66.6
67.4
71.5
79.2
77.6
77.6
78.2
78.4
80.8
82.6
84.6
85.7
86.9
87.1
83.4
90.0

62.9
66.8
67.3
73.3
78.8
77.3
77. S
78.0
78.2
80.8
83.0
84.4
85.3
86.5
87.0
88.6

66.3
68.0
75.3
78.0
76.9
77.11
77, <»
78.5
81.3
83.8
84,3
85. S
86. S
87.4
88.9

66.1
67.2
69.5
77.5
77.9
77. 6
78.2
78.1
79.7
82.2
83.9
84.8
8S.8
86.5
88.0
89.6

66.9
67.6
71.3
70.9
77,8
77.9
78.3
78.4
80.6
82.7
84.6
85.9
86.9
86.9
88.3
89.8

65.0
67.1
69.0
76.3
78.1
77.4
77.9
78.1
79.2
81.7
83.8
84. 8
85.9
86.6
87.7
89.2

1964...
1965,,.
1966...
1967...
1968...
1969...
1970...
1971., .
1972...
1973...
1974., .
1975...
1976...
1977...
1978...
1979...
1980...

9Q.O
91.8
94.7
97.9
102.4
106.2
1U.Q
112.9
118.4
125.2
136.5
153.1
167.7
178.0
194.0
211.2

90.2
92.0
95.3
98.0
102.4
106.2
111.5
113.4
119.0
125.8
137.9
154.2
168.3
179.7
193.3
213.2

90.2
92,1
93,5
98.2
102.7
106.7
111.7
113.7
119.0
126.2
139.3
155.0
169.0
181.5
197,5
215.7

90.6
92.4
96.1
99.1
103.4
108.0
112.4
114.5
119.8
127.6
140.3
153.8
169.7
182.3
197.9
217.2

90.6
92.5
96.2
99,3
103.5
108.2
112.2
114.9
119.8
128. S
142.7
157.1
171.1
184.0
200.7
219.3

90.7
93.3
96.4
99.8
103.8
109,1
112.6
115.2
120.0
129.7
144.5
159.4
171.9
185.3
202.4
220.3

91.3
93.6
96.7
100.8
104.3
109.6
113.0
116.2
121.5
130.8
145.5
161.6
172.6
187.1
205.4
222.1

91.3
93.5
97.2
101.2
104.6
109.9
113,0
117.0
122.4
132.6
146.9
163.2
173.4
187.9
205.5
222.9

91.0
93.3
97.3
101.1
104.9
109.7
112.8
116,7
122.8
133.4
147.9
163.6
174.2
188.9
205.2
224.9

91.0
93.4
97.4
100.9
10S.2
109.9
112.9
116.9
123.0
133.7
149.2
165.1
175.4
190.8
207.3
226.5

91.1
94.0
97.5
101.2
105.6
110.3
112.9
117.3
123.3
134.7
150.9
166.6
176.0
192. Q
209.0
228.7

91.7
94.4
97.8
101.8
106.4
110.8
112.5
118.1
124.2
133.5
152.4
166.8
176.5
193.3
209.6
230.1

90.1
92.0
95.2
98.0
102.5
106.4
111.4
113,3
113.8
125.7
137.9
134.1
168.3
179.7
195.6
213.4

90.6
92.7
96.2
99.4
103.6
108.4
112.4
114.9
119.9
128.6
142.5
157.4
170.9
183.9
200.3
218.9

91.2
93.5
97.1
101.0
104.6
109.7
112.9
116.6
122.2
132.3
146.8
162.8
173.4
188.0
205.4
223.3

91.3
93.9
97.6
101.3
105.7
110.3
JL12.8
117.4
123.5
134.6
150.8
166.2
176.0
192.0
208.6
228.4

90.8
93.0
96.5
99.9
104.1
108.7
112.4
113.6
121.1
130.3
144.5
160.1
172.2
183.9
202.5
221.0

This series contains no revisions but 1s reprinted for the convenience of the user. This series contains scattered revisions beginning with 1973.
Percent changes are centered en the 4th month of the span. Annual figures are averages of the centered changes.

102



(NOVEMBER 1980}

C. Historical Data for Selected Series—Continued
Quarterly

Monthly
Year

Jan.

Feb.

Mar.

Apr.

May

June

July

Sept.

Aug.

733-C. CHANGE IN I N D E X OF CONSUMER PRICES — CANADA, OVER 6-MONTH SPANS 1
(COMPOUND ANNUAL RATE, P E R C E N T )
194R.. .
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...

0.6
2.7
13,2
0,8
-1.0
-0.5
0.3
0.8
3.3
3.9
0,2
0.2
-0.*2
2.3
1.4

0.6
2.4
14.3
-1.0
-0.8
1.0
1.3
1.3
2,5
4.4
0.5
—0 , 2
1.6
1.8

0.9
3.6
14.8
-2.8
-0.8
1.8
-0.3
2.3
2.7
3.7
0.5
0 5
-0.*2
1.6
1.8

2.0
2,7
5.2
1 .7
4.2
4.6
4.0
2,5
4.8
8.0
10.8
9.7
6.5
9.3
8.5
10.9

2.0
3.3
4.5
3.5
4.2
4.6
3.3
3.4
4.1
8.6
12.4
8.7
5.7
9.5
9.3
10.1

1.8
3,5
4.3
4.1
3.6
4.7
2.9
4.5
2.9
8.7
13.6
8.8
6.0
10.0
9.6
9.9

o.'a

10.9
0.
4.8
13.1
-3.3
-0.3
1.3
-0.5
3.1
3.0
2.4
0.
0.2
-0.'2
1.8
1.6

1955. . .

1964...
1965...
1966...
1967...
1968...
1969...
1970...
1971...
1972...
1973...
1974.,.
1975...
1976...
1977...
1978...
1979...
1980...

IV Q

AVERAGE FOR PERIOD

1.8
1.7

9,8
0.6
5.7
10.9
-3.0
0.3
1.4
-0.4
3.3
3.3
1,8
0.9
1.0
-0.2
1.8
1.8

6 .8
1.4
7.9
7.7
-1.9
1.1
0.3
-0.1
4.2
2.2
0.7
2.6
2.4
0.2
1,7
1.9

3.0
0.9
12.2
4.2
-0.8
0.2
-0.1
0.8
3.2
2.4
1.5
1.2
1.8
1.5
1,8
1.7

0.9
7.2
9.2
-1.7
0.2
0,6
0.2
3,0
2.7
2.0
1.3
1.4
0.3
1.8
1.8

1.9
3.2

1.8
2.6

3.4
4.0
4.6
3.4
3.5
3.9
8.4
12.3
9.1
6.1
9.6
9.1
10.3

5.3
3.1
5.4
1.7
4.7
4,8
9.7
12.0
10.3
5.0
8.3
9.3
8.8

1.4
2.8
3.1
4.4
4.8
4.0
1.0
4.8
6.3
9.4
12.0
11.2
5.7
8.6
8.2
8,7

2.3
4,4
2,9
3.9
4,4
4.1
1.8
4.9
6,9
9.7
11.6
8.1
8.5
9.3
8.8
10,1

1.9
3.3
3.5
4.3
4.1
4.5
2,0
4.5
5.5
9.3
12.0
9.7
6.1
9.0
8,8
9.5

-3.0
0.3
2.1
-0.3
4.1
3.2
1.9
0.7

4.6
0.6
10.1
6.1
-0.8
0.
0.3
1.0
3.0
2.0
2.2
2.1

3. 1
0.
11.2
4.2
-0,8
0.3
-0.8
0.5
2.8
2.4
1.2
1.4

0.
1.8
2.3

-0.5
1.8
1.4

-0.*2
1.6
2.0

0.
1.8
1.8

0.7
1.6
1,8

1.2
1.6
2.0

1.6
1.6
1.1

1. 2
2.1
15.2
2.3
-0.8
0.3
0.3
1.0
3.8
2.7
1.0
0.2
1.4
1.6
2.1
2.0

2.0
3.1
3.2

1.8
2.6
3.2

1.6
2.2
3.4

1.1
2.8
3.4

0.9
3.3
2.9

2.2
2.4
2.9

2.0
3.2
3.8

2.2
4.8
2.5

2.7
5.2
2.3

2.6
5.3
2.5
4.8
4.3
8.3
12.8
10.4
5.3
9.8
11.0
9.5

3,1
5.9
1.4
5.0
4.4
9.8
11.9
10.5
4.7
7.8
9.6
8.5

3.7
4.9
1.3
4.4
5.6
10.9
11.3
10.1
5.1
7.3
7.3
8.5

4.3
4.1
1.4
4.6
5.4
9.3
12.6
11.6
5.7
8.2
8.6
7.9

4.5
4,3
1.4
4.4
5,9
9,7
11.7
12.2
5.6
8.6
8.2
8.8

5.5
3.5
0.2
5.5
7.5
9.3
11.7
9.8
5.7
9.1
7.7
9.5

4.9
3.7
0.9
4.9
7.2
9.6
11.6
8.6
7.0
8.4
6.8
10.0

4.3
4.1
2.0
4.9
7.0
9.3
12.0
7.8
9.0
9.5
8.7
10.4

4.0
4.4
2.5
4.9
6.5
10.1
11.1
8.0
9.6
10.0
10,9
9.9

72 .2
72.2
68.1
74.6
75.4
74.6
74.6
75.4
77.8
79.7
80.5
82.3
82.9
85.1
86.9
89.3

73 .8
72.2
68.9
74.6
75.4
73.8
74.6
75.4
77.8
79.5
80.2
82.0
82.7
85.0
87.1
89.6

77 .0
72.2
68.9
76.2
75.4
73.8
75,4
76.2
77.8
79.8
80,5
82.3
83.0
85.1
87.4
90.1

76 .2
73.0
68.9
77.0
75.4
73.8
75.4
77.0
78.6
80.2
80.9
82.7
83.5
85.7
87.7
90.5

77.0
72.2
69.7
77.0
76.2
73.8
75.4
77.0
78.6
80.2
81.1
82.7
83.5
85.7
88.3
91.3

75!4
69.7
71.6
76.7
75.4
74.1
75.4
77.3
78.4
80.8
81.2
82.5
84.0
86.9
89.6

73.8
68.4
74.1
75.7
74.6
74.6
75.4
77.8
78.9
81.6
81.3
83.1
84.7
87.4
89.9

72 .2
72!s
63.4
74.6
7S.4
74.3
74.6
75.7
77.8
79.8
80.7
82.1
83.0
85.2
87.2
89.5

76.7
72!5
69.2
76.7
75.7
73,8
75.4
76.7
78.3
80.1
80.8
82.6
83.3
85.5
87.8
90.6

73.5
68.9
74.2
73.9
74.5
74.7
75.8
77.8
79.3
81.0
81.8
83.0
84.8
87.3
89.9

91.9
95.2
98.3
99.8
101.4
103.3
107,2
113.1
119.1
127.7
136.7
144.8
150.8
156.4
160.3
167.8

91.9
95.3
98.3
99.8
101.4
103,3
107.2
113.5
120.3
127.8
137.1
145.6
151.0
156.5
160.2
168.3

92.2
95.8
98.6
100,0
101.7
103.6
107.7
114.0
120.9
128.9
137.9
145.9
151.3
156.7
160.3
168.7

92.6
96.4
99.2
100.2
102.1
103.9
108.1
114.3
121.4
130.4
138.8
146.3
151.6
157.0
160.8
169.3

93.1
96.8
99.5
100.2
102.4
104.5
108.7
114.7
122.1
131.6
139.2
146.8
152.2
157.4
161.4
170.1

91.7
93.6
97.5
99.9
101.5
103.1
106.1
110.8
116.7
124.2
133.4
141,3
148,7
154.2
159.0
163.6

91.8
94.6
98.5
100.1
101.7
103,6
107.0
112.4
117.9
126.6
135. S
144.0
150.4
155.9
160.4
165.9

91.9
95. 3
98.4
100,0
101.5
103.4
107,2
113.2
119.5
127.7
136.8
145.1
150.7
156.4
160.3
167.9

92.6
96.3
99.1
100.1
102.1
104,0
108.2
114.3
121.5
130.3
138.6
146.3
151.7
157.0
160.8
169.4

92.0
95.0
98.4
100.0
101.7
103.5
107.1
112,7
118.9
127.2
136.1
144,2
150.4
155.9
160.1
166.7

11.2

76.2
70.5
70.5
77,0
75.4
73.8
75.4
77.0
78,5
80,6
81.2
82.7
83.9
86.6
89.0

75.4
69,7
71.3
77.0
75.4
73.8
75.4
77.0
78.5
80.9
81.1
82.4
83.9
86.8
89,9

74,6
68.9
73.0
76.2
75.4
74.6
75.4
77.8
78.2
80.9
81.2
82.4
84.2
87.2
89.9

73.8
68.9
73.8
76.2
74.6
74.6
75.4
77.8
78.5
81.2
80.9
82.7
84.2
87.4
90.2

73.8
68.1
73.8
75.4
74.6
74.6
75.4
77.8
78.9
81.7
81.2
83.3
84.7
87.4
89.9

91.6
93.5
97.3
99.8
101.4
102.9
105.7
110.1
116.1
123.3
132.5
140.6
148.0
153.7
158.3
162.9

91.7
93.5
97.4
99.8
101.5
103.2
106.0
110.8
116.7
124.2
133.7
141.4
148.9
154.3
159.1
163.6

91.9
93.8
97.7
100.0
101.5
103.3
106.5
111.6
117.3
125.1
134,0
142.0
149.2
154.7
159.5
164.4

91.9
94.3
98.5
100.0
101.7
103.5
106.8
112.0
117.6
125.9
134.7
143.0
150.1
155.3
160.0
165.3

91.9
94.6
98.6
100.2
101.7
103.6
106.9
112.3
117.9
126.6
135.6
143.9
150.4
155.9
160.3
165.7

67 . 3
73.8
68.1
74.6
75.4
74.6
74.6
75.4
77.8
79.4'
82.0
81.7
83.2
85.3
87.5
89,6

91.6
95.0
98.5
100.2
101.7
103.8
107.2
112,8
118.3
127.4
136.2
145.0
150.7
156.5
160.8
166.6

70 . 5
73.0
68.1
74.6
75.4
74.6
74.6
76.2
77.8
80.2
81.5
82.1
83.3
85.4
87.7
89.5

91.9
95.3
98.5
100.3
101.7
103.6
107.2
113.1
119.1
127.7
136.5
145.0
150.4
156.2
160.5
167.7

-8.2
-9.2
14.4
-0.5
-2.6
1.9
-0.5
3.7
1.3
3.0
0,5
0.2
1.7
4.0
4.8

-4.4
-11.2
16.3
-3.1
-1.3
2.7
0.3
2,1
0.8
3.3
0.2
1.0
1.9
2.8
3.9

-5.7
-9,0
17.2
-2.6
-3.1
3.0
0.5
2.1
1.5
3.8

-6.5
-5.3
13.8
-3..1
-1.3
2.5
2.1
1.8
3.6
1.5

-6.8
-3.1
11.0
-2.8
-1.1
3.0
0.5
2.6
3.9
-0.2

-5.3
0.9
5.8
-0.5
-2.6
1,6
1.6
1.6
4.4
-0.5

-4.0
0.3
7.2
-1.6
-1.6
2.7
2.9
0.8
3.9
-1.2

0.7
3.6
3.8
2.5

1.2
3.4
2.8
1.6

2.0
3.9
1.4
0.

2.4
3.9
1.6
1.6

1.7
3.4
1.4
1.6

1964. ..

2.0

1.8

0.4

1.1

1.8

i96e!!]

3!s
1.0
1.6
1.8
4.5
6.4
4.4
6.7
7.7
6.0
4.4
3.4
2.4
4.4

3.6
1.0
1.8
1.6
4.5
6.6
4.8
7.2
6.5
5.5
3.8
3.8
2.4
4.3

3.3
1.0
2.4

3.1
1.6
1.0

3\3
5.9
5.6
7.4
6.5
6.4
3.1
3.3
2.8
6.0

2.2
5.4
3.1
1.4
1.8
2,0
3.4
5.7
7.1
6.0
6.2
6,5
3.5
3,4
1.9
5.8

2.6
5.2
2.0
1.8
1.8

4.'o
6.3
4.7
7.3
5.5
6.7
3.7
3.8
2.5
4.7

3.1
1.4
1.2
1.6
3.8
5.9
5.8
7.2
5.8
5.9
3.5
3.7
2.2
5.8

3.' 4
5.4
7.5
6.5
6.4
5.5
3.2
3.7
2.1
6.0

-4.0
0.6
7.4
-1.1
-2.9
1.6
4.0
2.1
3.8
-1.5
4.2
1.2
3.6
1.8
2.7
2.9
4.9
2.3
1.2
2.2
1.9
3.6
5.1
7.6
7.6
6.6
5.2
3.5
3.2
2.4
6.4

6 '.7

2.9
14.1
-1.0

-0.9
0.8
0.4
1.5
2.8
4.0
0.4

-o!i

©
AVERAGE FOR PERIOD

4
AVERAGE FOR PERIOD

27 . 4
-6.6
2.7
4.6
1.1
-2.9
1.3
4.0
2.1
2.8
-1.5
3.2
1.2
1.7
2.3
4.3

14 . 6
-8.3
5.6
5.1
-1.1
-2.7
1.9
2.1
2.1
1.8
0.
1.7
1.7
2.8
2.8
4.3

7.3
-8.3
8.0
5.1
-1.3
-2.9
1.3
3.7
1.0
2.3
0.7
-0.5
1.7
2.8
5.8
4.1

1. 1
-9.9
11.0
2.7
-1.6
0.5
0.5
5.1
0.
2.3
1.2
-0.7
1.7
3.3
4.4
2.9

3.3
4.0
2.2
0.6
2.2

3.1
3.6
2.0
1.6
2.0

2.2
3.4
1.6
2.0
2.2

2.0
3.2
1.6
1.4
1.8

3.2
3.6
1.0
1.9

4.2
4.9
8.1
8.2
6.1
4.2
3.6
3.0
2,5
6.1

5.1
5.0
7.0
7.3
6.1
4.2
4.4
2.7
3.0
4.0

5.3
4.6
7.2
8.3
5.8
4.7
3.6
2.8
3.5
5.4

6.0
4.8
6.2
8.4
5.9
3.7
3.9
2.8
4.3
5.6

4.3
6.4
4.6
7.1
6.6
6.1
4.0
3.7
2.4
4.5

-6.1

-9,8
16.0
-2.1
-2.3
2.5
0.1
2.6
1.2
3.4
0.5
0.6
2.4
3.5
3.7
1.4

-6.2
-2.5
10.2
-2.1
-1.7
2.4
1.4
2.0
4.0
0.3
2.9
1.9
3.7
1.9
1.1

-4.9
1.2
6.4
-0.5
-2.5
1.9
3.6
1.7
3.5
-1.4
3.8
1.4
2.9
1.8
2.9

7.7
-8.8
8.2
4.3
-1.3
-1.7
1.2
3.6
1.0
2.1
0.6
0.2
1.7
3,0
4.3
3.8

-6.5
-0.7
9.2
-1.5
-2,0
2,0
2.2
1.8
2.7
0.7
1.8
1.4
3.0
2.9
2.9

1.7
5.0
3.1
1.5
1.3

2.9
4.7
2.2
1,2
2.1
2.0
3.7
5.1
7.7
7.4
6.4
5.0
3.4
3.3
2.3
6.2

2.4
3.4
1.7
1.7
2.0
3 .'8
5.5
4.8
6.8
8,0
5.9
4.2
4,0
2.8
3.6
5.0

2.1
4.1
2.6
1.3
1.8
2.4
4,3
5.6
6.3
7.3
6.3
5.4
3.7
3.3
2.7
5,4

sis

5,8
6.2
6.9
6.2
6.3
3.4
3.5
2.3
5.9

'Percent changes are centered on the 4th month of the span. Annual figures are averages of the centered changes.
This series contains scattered
ivisions beginning with 1960. 3 This series contains revisions beginning with 1957. "This series contains revisions beginning with 1956.




Q

5,0
1.2
8.3
6.9
-1.3
0.5
-0.3
0.8
3.8
1.7
1.2
2.1

1949...
1950...
1951...
1952...
1953...
1954...
1955...
1956...
1957...
1958...
1959...
1960...
1961...
1962...
1963...

1969 ...

Annual
III

6.3
1.8
7.8
7.8
-2.0
0.8
0.3
-1.0
4.6
2,2
0.5
2.9

1948 . , ,

1970...
1971...
1972...
1973...
1974...
1975...
1976...
1977...
1978..,
1979...
1980.,.

II Q

2

735-C. CHANGE IN I N D E X OF CONSUMER PRICES — WEST GERMANY, OVER 6-MONTH SPANS 1
(COMPOUND ANNUAL RATE, PERCENT)

1967...
1968...

IQ

9.0
1.2
7.5
8.4
-2.5
2.1
0,8
0.
4.1
2.7
0.5
2.9

1948 . . .

1956...
1957...
1958,..
1959...
1960...
1961...
1962.,,
1963...

Dec.

9.0
0.9
5.4
8.5
-2,8
0,8
0.8
-0.3
2.8
3.7
1.0
1.9

9.4
0.9
7.0

735. WEST GERMANY—INDEX OF CONSUMER P R I C E S 3
(1967=100)
1949,..
1950...
1951...
1952...
1953...
1954...

Nov.

Oct.

(NOVEMBER 1980)

103

C. Historical Data for Selected Series—Continued
Quarterly

Monthly
Year

Jan.

Feb.

Mar.

Apr.

May

June

July

Aug.

736. FRANCE— INDEX OP CONSUMER PRICES'
(1967=100)

Sept.

Oct.

Nov.

Dec.

IQ

®

II Q

HI Q

Annual

IV Q

AVERAGE FOR PERIOD

1948...
1949...
1950...
19S1...
1952. ,.
1953...
1954...
195S...
1956...
1957...
1958...
1959...
1960...
1961...
1962...
1963...

32.3
43.4
44.1
48.7
59. 5
59.5
58.4
59.3
59,8
60.8
69.3
74.8
78.6
80.3
84.0
87.5

34.7
41.6
44.8
49.8
60.7
59,6
58.9
59.1
60.4
61.0
70.1
75. 9
78.7
80.4
84.0
87.9

34.2
39,6
44.1
50.4
60.4
59.3
58.5
59.1
60.4
60,7
71.1
75.6
78.7
80.3
84.3
88.2

34.3
39.1
44,8
SI. 3
59.8
59,0
58.1
59.1
60.2
60.5
71.7
75.6
78.8
80.2
84.3
88.4

34,7
38.8
44.1
52.8
58.9
59.4
58.9
59.5
60.7
60.4
71.8
75.2
78.7
80.1
84.9
88.6

35.1
38.6
42.9
52.7
58.3
59.4
58.7
59.0
60.1
60.8
72.0
75.4
78.6
79.9
85. 2
89.3

35.0
38.4
42.9
53.0
58.2
58.7
58.0
58.4
59.8
61.7
72.4
75.6
78.9
80.6
85.6
89.6

38.6
39.2
44. S
53.5
59,1
58.4
57.8
58.3
60.1
62.4
72. S
76.0
79.6
81.0
85,4
89.9

41.5
41.3
46.1
54. 2
59.6
57.6
58.2
58.9
60.5
63.2
72.8
76.3
79.7
81.5
85.7
90.5

42.9
42.9
47.3
55.5
59.1
57.6
58.3
59.6
60.4
64.2
73.0
77.0
79.9
82.3
86.1
90.7

42.2
43.4
47.8
57.1
58.9
57.6
58.9
S9.6
60.4
65.7
72.8
77.5
80.1
83.1
86.8
91.0

43.3
43.6
48.2
58.3
59.4
58.0
59,1
59. 7
60.4
67.0
73.0
77.5
80.2
83.5
87.4
91.2

33.7
41.5
44.3
49.6
60.2
59.5
58.6
59.2
60.2
60.8
70.2
7S.4
78.7
80.3
84.1
87.9

34.7
38.8
43.9
S2.3
S9.0
39.3
58.6
59.2
60.3
60.6
71.8
75.4
78.7
80.1
84.8
88.8

38.4
39.6
44.5
53.6
59.0
58.2
58.0
58.5
60.1
62.4
72.6
76.0
79.4
81.0
85.6
90.0

42.8
43.3
47.8
57.0
59.1
57.7
58. 8
59.6
60.4
65.6
72.9
77.3
80.1
83.0
86.8
91.0

1964...
1963...
1966...
1967...
1968...
1969...
1970...
1971...
1972...
1973...
1974...
1975...
1976...
1977...
1978...
1979...
1980...

91.6
93.7
96,1
98.8
102.8
108.3
114.4
120.0
126.8
135. 2
149.1
170.8
187.2
204.1
222.8
245. 5

91.6
93.7
96.3
98,9
102.8
108.7
114.9
120.6
127.5
135.6
151.1
172.1
188.5

91.7
94.0
96.5
99.2
102.9
109,1
115,3
121.1
128.1
136.3
152.9
173,5
190.1
207,3
226,4
249.4

91.8
94.1
96.8
99.3
103.2
109.7
115.9
121.8
128.6
137.2
155.4
175.0
191.8
210.0
228.9
251,8

91.8
94.4
97.2
99.4
103. S
110.2
116.5
122.6
129.3
138.5
157.2
176.3
193.0
212.0
231.1
254.5

92,0
95.9
97.1
99.4
103.9
110.5
117.1
123.1
130.0
139.6
159.0
177.6
193.9
213.6
232.8
256.6

92.3
95.1
97,4
99.6
104.2
111.0
117.6
123.7
131.0
140.7
161.0
178.9
195.7
215.5
235.7
260.0

92.5
94.8
97.4
100.0
104.7
111.2
117.8
124.1
131.7
141.7
162.3
180.1
197.1
216.7
237.1
262.7

92.9
95. 1
97.8
100.4
105.4
111.9
118.3
124.7
132.6
143.0
164.0
181.6
199.3
218.6

93.1
95.3
97.9
100.9
106.6
112.5
118.7
12S.4
133.7
144.5
166.0
183.0
201.1
220.3
240.8
268.1

93.1
95.4
98.1
101.6
106.9
113.1
119.2
125.9
134.5
145.8
167.5
184.0
202.8
221.1
242.1
269.8

93.1
95.8
98.4
101.8
107.1
113.5
119.4
126.5
135.2
146.7
168.9
185.2
203.5
221.7
243.2
272.0

91.6
93.8
96.3
99.0
102.8
108.7
114.9
120.6
127.5
135.7
151.0
172.1
188.6
205.6
224.5
247.3

91.9
94.8
97. Q
99.4
103.5
110.1
US. 5
122.5
129.3
138. 4
157.2
176.3
192.9
21,1.9
230.9
254.3

92.6
95.0
97.5
1QO.O
104.8
111.4
117.9
124.2
131.8
141.8
162.4
180.2
197.4
216.9
237.1
262.5

93.1
95,5
98.1
10,1.4
106.9
113.0
119.1
125.9
134.5
145.7
167.5
184.1
202.5
221.0
242.0
270.0

-7.1
15.7
20.6
23!4
-2.7
1.0
0.7
2.7
-1.6
23.6
5.3
4.5
0.
6.0
5.4
2.4

-lo!4
10.7
26^4
10.8
1.9
3.2
1.4
2.1
0.4
20.0
7.1
3.9
0.5
5.2
5.3

37.1
-3.1
6.0
22*.3
©.4
-Q .2
1.7
1.1
2.9
8.7
10.1
3.9
4.2
3.5
4,7
5.7

39.3
14.7
11.1
14!o
-1.5
-5 . 7
0.8
1.7
O.S
17.7
3.0
4.8
3.0
6.7
4,0
4.5

12 .4
18.4
18 , f j
20 !4
-2.7
-2 .5
0.5
2.4
-0.9
22.5
5.1
4.9
0.4
6.3
4.5
3.0

4^9
11.6
20!?
1.8
-1.6
1.5
1.7
1.2
12.3
9.6
5.2
2.9
4.2
4.6
4,6

2.4
2.8
2.7
4.6
6.9

2.4
4.0
3.5
2.5
4.3
6.3
6.2
5.9
5.S
5.9
16.3
10,5
9.6
9.5
9.2
10.4

2.5
3,0
3,1
2.6
4 ,3
5.4
5.7
6.1
6,8
9*1
15. ,4
9,4
9,,1
10,8
11, .0
12,1

2.4
1,3
2.2
4.2
6.4
S.3
4.4
5.6
8.2
10.7
13,8
9.3
10.2
8.9
9.9
12.6

2.3
2.3
2.5
S.2
7.2
6.0
4.5
5.5
6.2
13.5
12.6
9.9
9,0
7.6
9.4
14.8

2.4
2.7
2.8
3.6
5.S
5.7
5.2
5.8
6.7
9.8
14.5
9.8
9.5
9.2
9.9
12.5

205.5
224.4

247.1

238.6
264.9

736-C. CHANGS IN INDEX OF CONSUMER PRICKS— PRANCE* OVER 6-MONTH SPANS 2
(COMPOUND ANNUAL RATE, PERCENT)
1948. ,,
1949...
1950 .

1951!!!

1952...
1953. . .
1954...
1955...
1956...
1957...
19*} 8
1959!!!
1960...
1961...
1962...
1963...
1964...
1965...
1966...
1967...
1968 ...
1969!'.'.
1970...
1971...
1972...
1973...
1974...
1975...
1976...
1977...
1978...
1979...
1980...

-11.2
15.3
22!2
IS. 2
-0. 3
0.7
1.4
0.7
-1.3
<j •a

-9.0
27.6
8.7
2. 1
3.9
1.0
3.0

-0.1

<j

£ 3. 3

6,1
3.7
0.3
4.9
5.4

?!s

2.4
2.2
3.2
2,7
4.6
S*.9
6,1
5.6
5.5
5.5
15.8
11.0
10.0
9.5
8.4
9.8

2.4
3.3
4.0

3.9
1.0
5.4
5.1

2.7
3,8

e!s

6.3
6.0
5.5
6.0

16.1
10.5

9.8
9.3
9.3

10.4

-11.0

31.9
-12.7

44 .3
7.2

45.9
13.1

36.9
16.4

35 .0
14. S

isle

14!s
-2.7

ll'.Z

-1.0

i4!a

-0.7

-1.7

1.4
1.7
2.7
10.9
7.5
4.0
4.4
4.3
4.1
5.8

2.1
3.1
2.0
14.1

1.0
1.4
-0.3
18.7

-0.7
0.7
-0.3
20.2

0.7
1.4
0.
22.3

4.8
3.6
5.6
4.3
5.3

5.4
2.6
6.6
3.6
4.3

4.3
2.8
7.9
4.0
3.4

5.3
1.3
6.8
3.3
3.6

6.7
21,1
17 , 0
20!?
-3.6
-3.0
0.
3.1
-1.0
21.7
6.4
4.8
0.
6.0
4.7
3.1

2.6
2.4
2.9
2.8

2.9
2.6
2.3
3.5

2.2
1.9
1.7
4.5

2.0
-0.6
2.5
4.7

2.4
1.7
2.3
5.9

2.0
2.5
2.5
S.I

5.4
5.3
B.9
6.8
9.9
14.5
9.2
9.2
10.4
10.1
11.7

5.2
4.7
5.7
7.8
10.6
14.1
9.5
9.5
9.7
10.2
12.7

5.1
4.5
5.3
8.2
10.8
13.8
9.2
10,4
8.8
9.8
12.4

S.5
4.1
5.8
8.5
10.7
13.4
9.3
10.6
8.1
9.6
12.8

5.7
3.9
5.1
6.7
12. S
12.8
9.7
9.0
7.1
8.7
14.2

6.2
4.S
S.4
6.0
13.5
12.6
9.8
9.1
7.6
9.1
14.7

5.0
5.9
6.0
14.5
12.5
10.2
8.8
8.1
10.4
15.6

27.9
2.1
2.4
2.8
0.3
3.1
6.4
12 . 3
4,9
3.4
2.8
§.3
5.8

23.3
0.3
1 .0
1.0
1.4
3.0
8.8
10 . 6
2.9
4.7
3.3
4.3
5,5

2.4
6.6
3.2
2.2
4 4
6.6
6.3
6.1
5.4
6.3
17.0
10.1
9.1
9.7
9,9
10.9

2.4
3.5
3.4
2.2

2.6
3.0
2.9
2.9
4 3
5.2
5.7
6.1
6.9
9.2
15.4
9.4
9.1
10.8
11.2
12.6

5.6
6.0
6.3
6.7
8.1
16.3
9.5
9.1
11.3
11.7
11.9

-1.3

737. ITALY — INDEX OF CONSUMER PRICES 1
(1967=100)

92.3
94.8
97.2
99.9
104,5
110.8
117.1
123.3
130.8
140.4
159,5
178,2
195.3
213.9
233.7
258.5

AVERAGE FOR PERIOD

35.1
-3.9

29.3
5.6
3 .8
4,9
1.7
2.7
2.7
16,0
7.8
4.2
0.2
5.4
5.3

37.4
40.8
45. 1
53.1
59.3
58.7
58. 5
59.1
60.3
62.4
71.9
76.0
79,2
81.1
83.3
89.4

37,6
18.3
17 9

u!s

&!o

®
AVERAGE FOR P E R I O D

1948. ..
1949...
1930...
1951...
1952...
1953...
1954...
19SS...
1956...
1957...
1950...
1959,..
1960...
1961...
1962...
1963...

54.9
56.4
53,7
57.6
60.9
63.6
64.1
67. S
68.6
70.9
72.3
72.3
74.1
75.1
77.2
82,8

54,4
B6.4
53.7
58.7
62.0
63.6
64.7
67. S
69.3
70.5
72.2
72.2
73.9
75.1
77.6
84.0

55.8
S6.4
53.1
58.7
62.0
63.6
64.7
67,5
69.8
70.3
72.2
71.9
73.8
75.1
78.1
84.2

56.0
57.2
53.8
60.4
62.7
64.3
64.7
67. S
70.1
70.2
72.8
71.8
73.7
75.2
78.7
84,7

55.2
37.2
53.9
60.4
62.7
64.7
65.9
67.5
70.2
70.2
73.4
72.2
73.9
73.4
78.7
84.7

S4.8
S6.6
54.6
60.9
63.1
64.7
66.4
67.5
69.9
70.2
73. S
72.2
73.9
75.4
78.5
84.3

S2.1
55.0
54.6
60.9
63.1
63.6
66.4
67.5
69.9
70.6
73.4
71.8
74.2
75.7
79.3
84.7

54.4
§5.7
55. 6
60.9
63.1
63.6
66.4
67.5
70.0
70.6
73.4
72.1
74.2
75.8
79.5
85.0

55.7
55.5
56.8
60.9
63.6
63,6
66.4
67.5
70.1
70.9
73.1
72.4
74.2
75.9
79.8
85.7

54.8
54.1
56.1
60.9
63.6
64.3
66.4
68.1
70.0
71.2
72.6
73.1
74.2
76.0
80.0
86.6

S5.2
54.3
56.7
61. S
63.6
64.3
66.4
68.1
70,2
71.6
72.6
73.5
74.6
76.6
82.5
86.9

55.7
53.8
56.8
61.5
63.6
64.3
66.4
68.7
70.5
72.1
72.4
73.7
74.7
76.7
81.8
87.4

ss.o

56.4
S3. 5
S3. 3
61.6
63.6
64.6
67.5
69.2
70.6
72.2
72.1
73.9
75.1
77.6
83.7

55.3
57.0
54.1
60.6
62.8
64.6
65.7
67.5
70.1
70.2
73.2
72.1
73.8
75. 3
78.6
84.7

54,1
S3. 4
55.7
60.9
63.3
63.6
bh.4
67.5
70.0
70.7
73.3
72.1
74,2
75.8
79. S
8 S.I

55.2
54.1
56.5
61.3
63.6
64.3
66.4
68.3
70.2
71.6
72.5
73.4
74.5
76.4
81. 4
87.0

54.9
55. 7
55.0
60.3
62. B
64.0
6S.8
67.7
69.9
70.8
72.8
72.4
74.1
75.7
79.3
85.1

1964...
1965...
1966...
1967...
1968.. .
1969...
1970...
1971...
1972...
1973...
1974...
1975...
1976...
1977...
1978...
1979...
1980...

88.2
93.0
95.9
98.3
101.0
102,1
106.4
112.1
117,4
126.9
143.6
178.2
197.7
238.8
271.1
305.1

88.2
93.1
95.9
99.0
101.0
102.2
107.3
112.6
118.0
128.4
146.6
180.8
202.1

88.5
93.3
95.9
99.2
101.1
102.6
107.8
113.1
118.3
129.7
150.4
181.0
206.1
246.5
277.4
313.8

88.6
93.6
96.1
99.3
101,3
103.1
108.2
113.3
118.6
131.0
152.3
183.4
211.6
249.5
280.0
317.8

89.4
93.8
96,3
99.7
101.4
103.3
108.7
114.0
119.7
133.0
1S4.5
184.9
215.8
252.6
282,7
321.3

90.0
94.0
96.3
99.9
101.3
103.7
108.8
114.1
120.3
134.2
156.7
186.4
216.8
254.3
285,1
323.9

90.5
94.5
96.3
100.1
101.1
104.3
109.1
114.4
120.7
134.9
159,8
187.1
217.9
255.8
286.8
326.7

90.7
94.7
96.4
100.3
101.1
104.6
109.3
114,6
121.5
135,8
163.3
188.3
220.3
258.2
288.3
330.6

91.2
94.9
96.4
100.8
101.2
104.7
110.4
115.4
122.7
136.6
168.0
189.8
224.0
261.5
292.9
339.2

91.5
94.9
96.6
100.7
101.3
105.0
110.7
115.9
124.0
137,7
171.2
191.9
230. S
265.0
295.5
345.5

92.2
95.2
97.3
100.8
101.4
10S.6
111.2
116.5
125.0
139.3
174.4
194.1
23S.5
267.6
298,6
350,3

92.6
95. 6
97.9
100.8
101.7
106.0
111.7
116.9
12S.5
141.3
175.9
195.6
238.6
268.9
300.1
356.6

88.3
93.1
95.9
99.0
101.0
102.3
107.2
112.6
117.9
128.3
146,9
180.0
202.0
242.9
274.1
309.5

89.3
93.3
96.2
99.6
101.3
103.4
108.5
113. »
119. ij
132.7
154.5
184.9
214.V
252.1,
282.6
321.0

90.8
94,7
96.4
100.4
101.1
104.5
109.6
114.8
121.6
135.8
163.7
188.4
220.7
258. S
289.3
332.2

92.1
95.2
97.3
100.8
101.5
105.5
111.2
116.4
124.8
139.4
173.8
193.9
234,9
267.2
298.1
350.8

90.1
94.2
96.4
100. 0
101.2
103.9
109.1
114.4
121.0
134.1
159.7
186.8
218.1
255.2
2S6.0
328.4

243,4
273.9
309.7

This series contains no revisions but is reprinted for the convenience of the user. This series contains scattered revisions beginning with 1961.
Percent changes are centered on the 4th month of the span. Annual figures are averages of the centered changes.

104



(NOVEMBER 1980)

C. Historical Data for Selected Series—Continued
Quarterly

Monthly
Year

Jan.

Feb.

Mar,

Apr.

May

June

July

Aug.

Sept.

Oct.

Nov.

Dec.

1 Q

737-C. CHANGE IN INDEX OF CONSUMER PRICES — ITALY, OVER 6-MONTH SPANS 1
(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...

3.6
-2.4
12.5
3.0
1.4
2.9
2.3
4.3
-0.6
4.2
-1.4
1.0
2.2
5.7
8.2

2.4
-7.5
11.6
4.6
4.2
0.7
3.5
3.5
1.2
4.6
-1.7
3.9
1.9
3.0
7.4
5.5

9.1
-6.5
10.4
2.9
1.3
2.9
2.9
4,7
1.3
3,9
-3.7
4,5
1.5
3.8
9.5
6.3

-3.5
6.9
7.1
3.4
1.2
3.8
2.7
2.3
2.2
0,6
1.9
1.5
3.0
7.2
6.2

3.8
1.5
5.2
0.2
2.4
5.6
4.6

3,6
1,8
4.6
0.8
3.4
5.5

4.3
1.8
3.6
0.7
4.9
5.1

3.2
2.5
2.6
0.6
4.6
5.2

1.8
4.7
0.7
1.9
4.6
5.1

5.7
3.2
2,7
2.9
1.0
4.4
5.2

10.6
15.4
21.7
14.4
21.1
11.6
13.8
26.1

11.6
20.9
16.2
18.2
21.4
12.5
14,1
23.1

5.0
12.7
21.9
12.7
22.1
14.8
10.9
15.2

7.0
12.5
24,5
9.7
19.7
13.5
12.2
16.1

9.4
10.5
27.7
10.4
20.1
12.7
12.0
20.1

10.8
16.5
20.8
14.8
20.9
12.3
13.5
25.0

8.'l
13!o
23.7
11.9
20.7
13.3
12.2
19.1

31.4
49.1
47.2
51.1
55.1

43.3
48.1
45.0
52.9
55.1
59.6
62.4
61.1
61.6
64.5
64.5
65.4
68.3
71,8
76.4
82.9

44.0
47.3
45.3
54,8
54.8
62.3
61.8
61.3
62.8
64.1
65.8
66.4
68,3
74.0
77.3
83.2

39.1
48.9
45.4
52.8
55.0
59.1
62.4
61.4
62.0
63.9
64.5
65.4
67.9
71.4
76.2
82.2

85.7
91.6
96.3
99.2
105.8
113.3
119.2
127.8
134.1
151.7
187.4
206,6
226.5
244.4
254.3
263.1

87.3
93,4
97.2
102.7
107.5
114.0
123.9
129.8
135.9
156.4
195.5
212.2
232.1
246.5
254.9
267.6

85.5
91.7
96.1
100.0
105.6
111.5
119.6
127.1
133.2
148.9
184.0
205.8
224.9
243.0
252.3
261.3

15.0
-6.0
10.4
-0.3
1.6
2.5
3.3
3.3
2.9
4.6
-3.5
5.9
1.6
3.2
8.0
7.2

7.5
-7.1
11.9
3.6
1.6
2.8
2.7
4.5
0.9
4.0
-3.8
4.5
1.3
3.7
10.6
6.4

4.7
-6.4
9.0
5.3
0.6
3.5
2.7
6.3
0.
3.1
-3.8
3.1
1.6
4.5
10.0
5.4

5.4
3.0
3.4
1.8
0.8
4.7
5.8
5.5
9.4
11.3
26.9
10.9
22.1
12.7
11.5
21.7

4,5
2.1
4.4
1.2
1.6
3.7
5.4

4.4
1.7
4.6
0.8
1.6
4.6
5.4

10.3
13.1
24.6
11.9
20.1
12.8
12.7
25.8

5.1
-3.3
12,0
2.6
2.2
3.8
1.8
5.0
-0,9
4.5
-1.4
1.1
2.2
5.6
5.7

0.7
0.4
12.7
2.9
1.6
5.3
2.7
3.2
-0.6
4.2
0.
1.1
2.4
5,3
8.0

3.7
3.7
1.7
5.0
0.6
3.0
6.0
4.6
4.5
11.6
20.7
14.5
21.2
17.0
10.3
14.5

5.8
3.5
2.1
4.6
0.8
3.2
5.6
4.5
5.2
12.7
22.7
12.1
23.2
14.8
10.9
15.6

6.5
3.5
1.7
4.1
1.0
4.0
5.0
4.0
5.4
13.8
22.3
11.5
22.0
12.7
11.5
15,6

6.5

6.7

7.4

7.6

6.4

1.7
3.5
0.8
4.8
5.5
4.3
6.1
13.3
23.8
10.1
21.4
14.7
12.1
14.9

1.9
3.5
0.8
5.4
4.5
4.3
7.1
13.0
25.0
9.3
19.8
13.4
12.6
15.5

1.7
3.7
0.6
4.5
5.3
4.5
7.8
11.1
24.8
9.7
17.9
12.3
12.0
17.8

1.7
3.5
0.6
4.1
4.9
4.8
9.3
10.3
28.4
9.7
18.9
13.0
12.7
19.2

2.5
2.6
0.4
4.9
5.0
4.8
9.4
9.9
27.8
10.6
19.4
12.5
11.8
19.4

-2. '5
-5.2
11.9
5.8
4.2
-0.3
5.6
0.6
1.4
2.3
3.1
2.0
1.9
3.2
5.7
4.8

-0.7
-7.3
12.0
4.4
4.9
1.9
6.6
3.0
0.9
3.7
0.
4.5
2.2
2.9
4.4
5.5

738. JAPAN— INDEX OF CONSUMER PRICES 2
(1967=100)

Annual
IV Q

AVERAGE FOR PERIOD

5.6
-7.3
10.6
4.3
3.5
0.3
0.9
4.2
1.7
5.2
-3.2
3.6
1.6
2.9
8.0
5.7

5.1
-4.4
12.8
3.6
0.3
-0.3
2.4
4.7
-0.3
4.0
-2.7
0.8
1.9
6.1
11.0

0.
-2.5
7.2
7.6
3.6
0.3
6.0
0.9
2,6
0.9
3.9
0.3
1.6
3.0
6.0
3.6

III Q

-3.7
-3.6
7.9
8.5
5.0
-0.1
6.0
0.4
2.6
0.8
3-5
0.5
1.4
2.9
6.1
4,7

2.2
-7.9
12.3
5.1
4.2
0.
3.1
3.3
0.9
4.9
-1.9
3.6
1.9
3.2
9.9
5.3

-8.5
-3.2
4.5
12.1
7.3
-0.3
6.3
-0.3
3.8
-0.8
3.4
-0.8
0.8
2.4
6.6
5.7

ll Q

®
AVERAGE FOR PERIOD

1948...
1949...
1950...
1951...
1952...
1953...
1954...
1955...
1956...
1957...
1958...
1959...
1960...
1961...
1962...
1963...

30.7
48.3
48.9
49.3
55.0
56.1
62.4
61.6
61.0
63.3
63.8
65.3
67.0
69.0
74.6
79.3

30.1
48.9
47.0
51.4
55.0
56.7
62.6
61.7
61.7
62.8
63.5
64.8
67.2
69.4
74.5
80.0

33.5
50.1
45.7
52.5
55.4
56.9
62.6
61.4
62.2
62.9
63.3
64.8
67.1
69.9
75.0
80.9

35.3
50.8
44.5
52.8
55.5
57.9
62.8
62.4
61.8
63.5
63.8
65.2
67,6
70.6
75.8
81.8

36.7
52.0
45.0
52.4
54.8
57.7
62.6
61.7
61.7
64.0
63.8
64.8
67.9
69.6
76.7
82.7

40.7
50.7
43.1
52.2
54.3
58.6
62.6
61.4
62.9
64.2
64.8
64.7
67.9
70.8
76.7
83.7

40.1
48.4
44.6
51.4
55.3
59.0
62.9
60.8
60.9
64.2
64.0
64,8
67.8
71.4
77.3
84.1

43.8
47.7
45.0
53.2
55.0
59.4
62.2
61.4
61.7
64.7
64.8
65.9
68.5
71.9
76.1
81.9

45.9
48.2
45.5
54.2
54.9
60.5
62.2
61.0
62.2
64.5
64.7
65.6
68.5
72.2
75.7
82.7

42.8
47.5
44.3
54.5
54.8
62.9
62.9
62.1
63.2
64.8
66.4
66.4
68.5
73.8
77.0
83.4

43.8
46.7
45.0
55.0
54.8
62.0
61.6
60.9
62.3
63.8
65.7
66.4
68.1
74.0
76.9
83.3

45.5
47.8
46.7
54.8
54.9
62.0
61.0
60,9
62.9
63.8
65.4
66.4
68.2
74.3
78.0
82.9

56.6
62.5
61.6
61.6
63.0
63.5
65.0
67.1
69.4
74,7
80.1

37.6
51.2
44.2
52.5
54.9
58.1
62.7
61.8
62.1
63.9
64.1
64.9
67.8
70.3
76.4
82.7

1964...
1965...
1966...
1967...
1968...
1969...
1970...
1971...
1972.,,
1973...
1974..,
1975...
1976...
1977...
1978...
1979...
1980...

83.4
89.6
94.1
98.9
103.8
107.7
116.1
124.6
129.5
138.4
168.3
198.8
216.0
236.0
246.1
253.9

83.1
89.6
94.9
99,4
104.2
108.1
117.1
124.4
130.1
139.6
174.1
198.8
217.3
237.2
247.1
253.1

84.0
90.9
95.3
99.8
104.7
109.2
118.4
124.3
131.0
142.8
175.1
200.8
218.1
238.7
249.4
255.1

85,4
92.7
96.9
99.8
104.9
110.5
119.3
126.2
132.1
145.2
180.0
204.5
223.5
242.6
252.1
258.6

85.5
91.4
95.6
98.6
105.4
110.3
117.9
126.1
132.9
147.8
180.5
205.1
224.1
244.9
253.5
261,3

85.6
91.4
96.3
98.1
103.9
110.3
117.3
127.3
132.9
148.3
181.3
204.9
224.5
243.6
252.1
261.5

85.5
90.9
96.4
98.0
104.5
112.8
117.8
126.7
133.0
149.5
185.2
205.3
225.7
243.0
253.1
263.8

85.6
91.1
95.7
98.6
104.4
112.8
118.4
125.7
134.0
150.8
187.0
204.9
223.9
243.0
253.3
261.1

86.1
92.7
96.8
101.1
108.5
114,2
121.5
130.9
135.4
154.7
189.9
209.5
229.8
247.3
256.4
264.4

87.8
93.9
97.4
102.5
107.5
114.0
124.0
130.6
135.6
153.6
194.4
213.0
231.3
248.6
256.8
267.7

87,1
92.9
96.8
102.5
107.7
113.8
123.4
129.4
135.4
155.6
195.7
211.9
231.3
245.7
254.1
266.7

87.0
93.3
97.5
103.0
107.2
114.2
124.2
129.4
136.8
160.0
196.5
211,7
233.7
245.1
253.7
268.3

83.5
90.0
94.8
99.4
104.2
108.3
117.2
124.4
130.2
140.3
172.5
199.5
217.1
237,3
247.5
254.0

85.5
91.8
96.3
98.8
104.7
110,4
118.2
126.5
132.6
147.1
180.6
204.8
224.0
243.7
252.6
260.5

-9.6
18.3
10.6
1.8
12.2
-4.7
-1.3
1.0
-0.6
2.5
6.6
2.1
12.0
5.3
-0.2

34.5
-4.4
15.6
10.3
0.
9.7
-5.9
-0.7
6.3
-2.8
2.8
5.9
3.0
8.9
5.0
-2.4

20.0
-6.6
25.3
3.0
2.9
8.9
-2.5
0.7
3.9
-2.8
1.2
5.2
3.5
7.9
10.2
2.0

14.9
-13.2
29.1
1.5
5.2
6.0
-2.9
4.3
3.2
-2.8
0.9
4.6
3.5
6.7
12.2
1.0

27.*8
-17.0
29.2
-2.0
10.6
0.4
-0.2
2.8
3.9
0.3
-2.6
4.1
5.4
5.1
12.5

99.0
0.9
-4.3
11.9
3.3
13.8
1.3
-0.8
0.2
4.7
2.8
1.4
3.5
7.2
5.0
8.4

46.6
-9.8
9.9
12.0
1.5
16.0
-2.4
-1.8
2.0
0.4
5.1
4.7
1.8
12.0
4.1
3,1

23,1
-8.1
23.3
4.9
2.7
8.2
-3.8
1.4
4.5
-2.8
1.6
5.2
3.3
7.8
9.1
0.2

2.7
3.0
14.5
1.4
12.2
-1.1
-^0.3
2.4
1.6
2.5
2.2
3.2
8.1
5.8
6.0

4.7
5.1
2.5
9.3

8.6
5.3
3.1
10.0

7. -6
5.7
4.6
8.2

9.0
3.7
4.8
6.4

3.7
9,0
5,2
3.0

7.0
5.3
5.5
1.8

6.0
4.8
2.8
8.1
5 0

8.4
4.9
4.2
8.2
3 1

6.3
6.0
4.4
5.2
4.3

5.8
11.3
3.2
6.7
18.0
20.1
9.1
11.0
2.6
2.9
6.9

4.3
10.6
3.6
7.9
26.5
15.4
11.1
9.8
2.7
1.2
6.0

5.7
8.9
6.3
7.9
31.8
11.7
10.6
10.4
2.4
-0.7
8.9

7.7
5.0
0.6
11.7
28.5
12.5
8.8
9.0
3.5
0.9
10.8

5.9
7.8
4.1
3.5
15.5
30.8
7.4
9.0
8.1
3.7
3.2

ll!o
4.5
6.1
6.5
17.3
18.3
7.5
9.2
6.0
5.0
6.5

9.8
5.7
6.1
14.9
19.8
9.7
9.9
3.5
3.2
6.8

8.2
3,5
9.2
28.9
13.2
10.2
9.7
2.9
0.5
8.6

1
738-C. CHANGE IN INDEX OF CONSUMER PRICES— JAPAN, OVER 6-MONTH SPANS
(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...

32.5
-17.4
35.1
-0.4
8.9
-1.3
-1.0
0.7
3.2
-1.2
-2.1
4.6
6.6
5.0
11.5

28.8
-14.1
28.3
-3.9
8.9
1.3
-0.3
2.0
5.2
-0.3
-2.7
4.3
3.3
5.5
12.8

22.0
-19.6
24.2
-1.8
13.9
1.3
0.7
5.6
3.2
2.5
-3.0
3.3
6.2
4.9
13.2

3.1
9.8
5.0
4.0
4.0
5.1
9.4
3.1
1.5
13.5
35.2
9.2
8.4
9.2
3.0
1.8

2.9
7.9
4'. 3
3.1
5 .7
5.3
7.3
3.9
4.0
16.7
31.0
6.6
8.5
9.0
3.9
3.1

5.1
9.4
6.3
1.8
2.9
7.2
6.6
5.4
5.1
16.3
26.2
6.3
10.1
6.1
4.1
4.6

84.1
7.8
-11.3
14.1
4.8
13.3
3.9
-1.0
1.3
4.5
1.9
-0.3
3.0
7.4
7.6
13.0
6.1
4.5
7.2
0.2
3. 5
11.9
4.4
4.4
6.0
17.0
20.9
6.2
8.8
6.0
5.4
7.3

-4.3
11.4
4.1
12.8
0.3
-0.3
0.
5.5
2.8
2.2
3.0
6.7
4.3
5.6

93.5
-4.0
2.7
10.3
1.1
15.4
-0.3
-1.0
-0.6
4.2
3.8
2.2
4.5
7.6
3.2
6.5

55.9
-7.4
4.6
10.6
0.4
19.3
0.3
-2.2
2.6
2.2
6.7
2.5
2.1
9.3
4.0
5.2

56.8
-12.5
6.9
14.7
2.2
16.6
-2.9
-1.9
2.3
-0,3
6.0
5.0
1.2
14.6
2.9
4.2

7.8
5.7
4.7
1.6
3. 3
11.6
3.8
3.2
6.9
17.7
16.8
8.0
8.2
6.2
5.9
7.0

7.0
5.8
4.7
3.5
7.8
9.4
5.2
10.6
6.5
17.1
17,1
8.4
10.5
5.7
3.6
5.3

7.2
4.0
2.3
6.4
5.9
6.9
8.3
7.8
6.2
13.4
18.1
9.9
8.8
5.2
3.6
6.7

6.2
5.3
3.6
8.5
4.0
6.1
9.7
6.1
5.5
13.4
21.1
10.0
9.8
2.8
3.1
6.9

119. 5
-1.2

27.1

AVERAGE FOR PERIOD

]
This series contains scattered revisions beginning with 1973. Percent changes are centered on the 4th month of the span.
of the centered changes. 2 T h i s series contains no revisions but is reprinted for the convenience of the user.




Annual figures are averages

els

$'.9

?!s

4.3
6.3
19.2
20.5
8.7
9.4
5.1
3.1
6.3
(NOVEMBER 1980)

105

G. Experimental Data and Analyses

(Dtc.) (Nov.)
P
T

Year
and
quarter

Unit labor cost,
all persons, nonfarm
business sector 1

Implicit price
deflator, gross
nonfarm business
product 1
(Index: 1967=100)

III

(Mar.)
T

HI III ITT

190.2
192.8
195.6
199.3

180, 2
184.7
187.8
191.4

195.1
200,3
204.7
208.4

206.0
212.1
217.3
221.8

213.7
220.4
r225.8

V

220
200

Implicit price deflator, gross nonfarm
business product, Q
(index: 1967=100)

180
160

-J 140

/

240
220
200

X

Unit labor cost, all persons, nonfarm
business sector, Q
(index: 1967-100)

180
160
140
120

Inventory-sales ratios in 1972 dollars 2
Year
and
month

240

228,2
236.3
r240.5

1980

I Q....
II Q . . .
Ill Q..
IV Q . , .

Ratio scale

sm

1979

I Q....
II Q . . .
Ill Q . .
IV Q . , .

H I ITT HT

Components of BCD series 26-

(Index: 1967-100)

1978

I Q....
II Q . . .
I l Q..
l
IV Q . , .

HI Ml Ml I|:;PM HI I I I

(Nov.)
P

Manufacturing
(Ratio)

Merchant
wholesalers
(Ratio)

—' 100
Inventory-sales ratios in 19 2 dolars (ratco)—
Arithmetic
scale

Retail trade
(Ratio)

2,1

1979
Jan.
Feb.
Mar,
Apr.
May.
June

1.76
1.78
1.72
1.86
1.78
1.84

1.33
1.35
1.30
1.33
1.30
1.31

July
Aug.
Sept
Oct.
Nov.
Dec.

1.84
1.86
1,87
1.87
1.91
1.90

1.31
1.31
1.31
1.30
1.29
1.30

2.0

1.39
1.38
1.38
1.41
1.42
1.45
1.46
1,42
1.37
1.41
1.40
1.37

1.9

1.8

1.7
1.4
1.3

1980
Jan,
Feb.
Mar.
Apr.
May.
June

1.87
1.88
1.92
2.06
2.09
2.10

July
Aug.
Sept
Oct.
Nov.
Dec.

2.07
r2.07
pi. 99
(NA)

1,29
1.27
1.37
1.31
1.38
1.37
1.30
1.43
pi. 26
(NA)

1.34
1.35
1.38
1.42
1,43
1.40

1.2

1.1
1.5

1.38
1.37
pi. 38
(NA)

1.4

1.3

1967 1968 1969 1970 1971 1972 1973 1974 1975 1976 1977 1978 1979 1980
NOTE: The 1V indicates revised; "p", preliminary; and "NA", not available.
l
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
Basic data
Series title
(and unit of measure)

LEADING INDICATORS
1. Average workweek, production workers,
manufacturing (hours)
3. Layoff rate, manufacturing1
(per 100 employees)
8. New orders for consumer goods and materials
in 1972 dollars (billion dollars)
32. Vendor performance, companies reporting
slower deliveries (percent)
12. Net business formation
(index: 1967=100)
20. Contracts and orders for plant and equipment
in 1972 dollars (billion dollars)
29. New building permits, private housing
units (index: 1967=100)
36. Change in inventories on hand and on order in
1972 dol. 9 smoothed2 (ann. rate, bil. dol.) .
92. Change in sensitive prices, smoothed2
(percent)
19. Stock prices, 500 common stocks
(index- 1941-43=10) .
. .
.
104. Change in total liquid assets, smoothed2
(percent)
106. Money supply (M2) in 1972 dollars
(billion dollars)
910. Composite index of 12 leading 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
indicators3 (index* 1967=100)
LAGGING INDICATORS
91. Average duration of unemployment1
(weeks )
70. Manufacturing and trade inventories, total,
in 1972 dollars (billion dollars)
62. Labor cost per unit of output, manufacturing
(index: 1967=100)
109. Average prime rate charged by banks
(percent)
72. Commercial and industrial loans outstanding
(million dollars)
95. Ratio, consumer installment debt to
personal income (percent)
930. Composite index of 6 lagging indicators 3
(index: 1967=100)

July
1980

Sept.
1980

Aug.
1980

39.0

Net contribution to index

39.4

39.5

Oct.
1980

July
to
Aug.
1980

Aug.
to
Sept.
1980

Sept.
to
Oct.
1980

P39.6

0.34

0.09

0.10

-0.20

0.40

0.12

0.

0.23

0.42

1.7

rl.9

1.5

pi. 4

r31.80

r31.80

r33.26

p35.58

32

34

39

44

0.07

0.18

0.21

115.3

rl!7.7

e!21.6

NA

0.30

0.47

NA

13.70

r!2.57

r!3.08

p!2.52

99.8

109.9

126.3

107.7

r-15.44

r-10.88

p-4.72

NA

0.27

1.12

rl.91

119.83

123.50

126.51

0.63

rO.74

816.2

r!28.4

0.09

-0.12

0.28

0.41

-0.56

0.29

0.39

NA

0.36

0.33

0.28

130.22

0.19

0.15

0.21

reO.85

eO.91

0.35

0.35

0.23

820.5

r818.1

p816.2

0.20

-0.11

-0.11

r!31.1

r!35.1

P136.3

2.10

3.05

0.89

2.46

-0.20

89,867

r90,142

r90,365

p90,622

0.24

0.19

0.29

rl,002.4

rl,005.2

rl,002.9

pi, 009. 3

0.14

-0.11

0.41

r!40.4

r!41.8

r!43.7

p!46.0

0.27

0.37

0.57

152,027

rl48,342

p!55,312

NA

-0.53

1.01

NA

r!36.1

r!36.0

r!37.8

p!39.3

-0.07

1.32

1.09

11.6

12.6

13.1

13.3

-0.51

-0.24

-0.14

257.90

r257.74

P257.01

NA

-0.03

-0.13

NA

r!99.8

r200.0

r!99.9

P199.5

0.03

11.48

11.12

12.23

13.79

-0.70

r!60,299

r!62,818

165,347

p!67,794

0.34

14.06

r!3.94

p!3.86

NA

r!63.6

r!61.3

r!64.0

P171.8

-0.02

-0.09

2.16

4.55

0.34

0.49

-0.41

-0.28

NA

-1.41

1.67

4.76

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
This
3

series is inverted in computing the composite index; i.e., a decrease in this series is considered an upward movement.
series is a weighted 4-term moving average (with weights 1,2,2,1) placed at the terminal month of the span.
Figures in the net contribution columns are percent changes in the index. The percent change is equal (except for rounding
differences) to the sum of the individual 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.




107

G. Experimental Data and Analyses—Continued
Recession Comparisons; Current and Selected Historical Patterns
i M 111 m M M i M 1111111 ii i ii 1111111 |i in 11 M i Devin

5. Average weekly initial claims, State
unemployment insurance (inverted)
11—i

ations
from
reference
peaks

Actual
data
for
current
cycle

MONTHS DEVIFROM ATIONS C U R R E N T MONTH
AMD
FROM ACTUAL
REF.
1/80
DATA YEAR
PEAK
SCRIES
5
THOUSANDS

-1

0

0.7

407

12/79

0. P

404

1/80

1
2
3
4

-20

• 350
Q

•400

• 4BQ

+ 20

-7.2
8.9
40.8
57.2

375
440
56 y
635

5
6
7
8

52. 1
32.7
24.3
24.0

617
536
502
501
439

10/80

• 550

• 700
+80

-1

-0.5

26590

0. P 26715

12/79
1/80

1
2
3
4

-0.3
-0.9
-2.2
-3.6

26623
26476
26121
25745

5
6
7
8

-4.8
-5.8
-5.3
-4.7

25422
25163
25312
25470

6/80
7/80
8/80
9/80

-4.1

25611

10/80

un

+ 12

• 145
+9

• 140

+6
+ 3 *135

0

• 130

-6
-9

+6

H20

-12
111J 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 M I I I I I i I

0. P

131.0

1/80

-0.9
-4.0
-8.0
-10.1

129.8
125.8
120.5
117.8

2/80
3/80
4/90
5/80

4.0

5
6
7
8

-12.4
-12.0
-10.2
-7.2

114.8
115.3
117.7
121.6

6/80
7/80
8/80
9/80

4.5

MONTHS
FROM
REF.
PEAK

3.1

5.0
5.5

12/79

0115

1/80

6.0

3.1
3.3
3.7
4.3

2/80
3/80
4/80
5/80

6.5

4.6
4.5
4.3
4.4

6/80
7/80
8/80
9/80

-I 7-0

4.1 10/80

Months from reference peaks

NOTK: For an explanation of these charts, see "How to Read Charts" on p. 107 of the July 1980 issue.




3.5

CURRENT MONTH
AND
ACTUAL
DATA YKAR

+12 +18 +24 +30 +36

108

3.0

11/79
12/79

3.2

H25

0

131.4
133.9

SERIES 45
PERCENT

-3

-6

0.3
2.2

1
2
3
4

0
Percent

-i 2.5

SERIES 12
1967^100

2
1

12, Net business formation

45. Average weekly insured
unemployment rate (inverted)

MONTHS DEVIFROM ATIONS CURRENT MONTH
REF.
FROM ACTUAL
AND
DATA YEAR
PEAK
1/80

• 850
+120

1973

2/80
3/80
4/80
5/80

• 750

+ 100 • 800

• 25,BOO

SERIES 40
THOUSANDS

9

+ 60 •650

• 26,000

MONTHS DEVIFROM ATIONS CURRENT MONTH
AND
FROM ACTUAL
REF.
DATA YEAR
1/80
PEAK

0

• 600

• 27,000

•26, BOO

• 500

+ 40

+2

6/80
7/80
B/80
9/30

8.7

Actual
data
for
current
cycle

Percent

2/80
3/80
4/30
5/80

9

Percent

40. Employees in goods-producing
industries

aliens
from
reference

i i i i i l i n i t l i M i i l n i i i HIM iiiii

-6

0

+6

+12 +18 +24 +30 +36

Months from reference peaks

G. Experimental Data and Analyses—Continued
Recession Comparisons: Current and Selected Historical Patterns-Continued
MONTHS DEVIFROM ATIONS CURRENT MONTH
AND
REF.
FROM ACTUAL
DATA YEAR
PEAK
1/80

. Industrial production, durable
manufactures

.|.MM|...U|.MM|imi|MUI

916. Composite index of profitability

SERIES 73
1967=100

-1

0.1

144.8
144.7

1/80

2
3
4

144.1
143.4
138.4
133.3

2/80
3/80
4/80
5/80

5
6
7
8

-10.2
-11.3
-10.6
-9.1

129.9
128.3
129.3
131.5

6/80
7/80
8/80
9/80

9

-7.0

134.6

10/80

1

H50

• 140

Actual
data
for
current
cycle

12/79

-0.4
-0.9
-4.4
-7.9

0

+4

Deviations
from
reference
peaks

0. P

Percent

+ 10

+5

• 95

MONTHS DEVIFROM ATIOMS CURRENT MONTH
REF.
Aim
FROM ACTUAL
PEAK
DATA YEAR
1/80
SERIKS 91(5
1967=100

• 130

-3
-2
-1

1.0
0.4
0.3

90.8
90.3
90.2

10/79
11/79
12/79

-12

0

89.9

-16

-O.I
-1.7
-2.1
-1.6

89.8
«8.4
88.0
88.5

2/80
3/80
4/80
5/30

5
6
7

-0.4
0.3
0.9

89.5
90.2
90.7

6/80
7/80
8/80

• 85

1/80

1
2
3
4

-5

1973
• 120

-20

0. P

-10
• 80

-15
• 75

74. Industrial production, nondurable
manufactures
clfl

MONTHS DEVIFROM ATIONS CURRENT MONTH
REF.
FROM ACTUAL
AND
PEAK
DATA YEAR
1/80

Percent

+ 16

SERIES 74
1967=100

H90
-1

+ 12
0

-0.4
0. P

165.3

12/79

166.0

1/80

• 130

+4
• 170

-4

•160

1
2
3
4

-0.1
-0.8
-2.7
-4.8

165.9
164.7
161.6
158.0

2/80
3/80
4/80
5/80

5
6
7
8

-6.4
-6.8
-5.8
-4.0

155.3
154.7
156.4
159.3

6/80
7/80
8/80
9/80

9

+8

930. Composite index of 6 lagging
indicators

-3.1

160.9

10/80

Percent

+10

• 190

+5

MONTHS DEVIFROM ATIONS CURRENT MONTH
REF,
FROM ACTUAL
AND
PEAK
DATA YEAR
1/80

• 180

SERIES 930
1967=100

178.0

0. P

178.7

1
2
3
4

1.3
6.5
9.8
2.9

181.0
190.4
196.3
183.8

-16

5
6
7
8

-5.9
-8.4
-9.7
-8.2

168.2
163.6
161.3
164.0

6/80
7/80
8/80
9/80

9

-3.9

171.8

10/80

-0.4

• 150

0

+6

-10

2/80
3/80
4/80
5/80

• HO

• 160

1/80

-12

-5

12/79

0

-1

+12 +18 +24 +30 +36

Months from reference peaks

-15
• 150

-6

0

+6

+12 +18 +24 +30 +36

Months from reference peaks

NOTE: For an explanation of these charts, see "How to Read Charts" on p. 107 of the July 1980 issue.




109

ALPHABETICAL INDEX-SERIES FINDING GUIDE
Serifs titles
(See complete titles in "Titles and Sources of
Series," following this index)

Current issue
(page numbers}

Series
number

Charts

Tables

2
604

16
56

61
92

61
970
58
974
975
971
976
978
977
972
973

24
38
22
38
38
38
38
38
38
38
38

55
616

ZZ
56

Historical Series
data descriptions
(issue date! (issue data)

A
Accession rate manufacturing
Agricultural products exports
Anticipations and intentions
Business expenditures, now plant and equipment
Business expenditures, new plant and equipment, 01 ,,
Consumer sentiment index
Employees manufacturing and trade, 01
Inventories manufacturing and trade Dl
New orders manufacturing, Dl
Prices, selling manufacturing, Dl
Prices, selling, retail trade, Dl
Pricos selling wholesale tro do Dl
Profits net manufacturing and trade 01
Soli's not manufacturing and trade PI
Automobiles
Expenditures personal consumption .
Imports of automobiles and parts

8/80
8/80

8/68

67
76
65
76
76
76
76
76
76
76
76

10/80
10/80
8/80
10/80
10/80
10/80
10/80
10/80
10/80
10/80
10/80

11/68
11/68*
11/68*
11/68*
11/68*
11/68*
11/68*
11/68*
11/68*
11/68*
11/68*

65
92

9/79
8/80

10/69*

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.
Borrow ing -See Credit.
Budget -See Government.
Building-See Construction.
Business equipment, industrial production
Business expenditures, now plant and equipment
Bus! ness expenditures, new plant and equipment, 01 ....
Business failures, current liabilities
Business incorporations
Business inventories-See Inventories,
Business loans-See Bank loans,
Business saving
....

72
112

15,35
32

73
72

6/79
6/79

11/72
11/72

93
94

33
33

72
72

9/80
9/80

11/72

29
78
61
970
14
12
13

13,25
24
24
38
33
12,23
23

67
67
67
76
72
65
65

8/80
1/80
10/80
10/80
10/80
3/80
3/80

295

46

82

11/79

4/69
ii/68
11/68*

c
Canada-See International comparisons.
Capacity utilization
Manufacturing (8EA)
Manufacturing (FRBI
Materials
Capital appropriations, manufacturing
Backlog
Newly approved , .
Newly approved Dl
. .
Capital in vestment -See Investment, capital
Capital investment commitments, Cl
Cash flow corporate constant dollars
Cash flow, corporate, current dollars
.
Civilian labor force-See also Employment,
Employment
Employment as percent of population
,
Total
Unemployed
Coincident indicators, four
Composite index
Composite index, rote of change
Diffusion index
Ratio to logging indicators, composite- index
Commercial and industrial buildings, contracts awarded . .
Commercial and industrial loans outstanding
Commoreiol and industrial loans outstanding, net change .
Compensation
Compensation, average hourly, all employees,
nonfarm business sector
Compensation, average hourly, all employees,
nonfarm business sector, percent changes
Compensation of employees
Compensation of employees, percent of national
income
Compensation, real average hourly, all employees,
nonfarm business sector
Compensation, real average hourly, all employees,
nonfarm business sector, percent changes
Earnings, average hourly, production workers,
private nonfarm economy
Earnings, average hourly, production workers,
private nonfarm economy, percent changes . .
Earnings, real average hourly, production
workers, private nonfarm economy
Earnings, real average hourly, production
workers, private nonfarm economy, percent changes
Wage and benefit decisions, first year
Wage and benefit decisions, life of contract
Wages and salaries, mining, manufacturing, and
construction ....
,
,

83
82
84

20
20
20

64
64
64

9/79
9/79
9/79

97
11
965

24
24
37

66
66
75

10/801
10/80

914
35
34

11
29
29

60
70
70

9/80
9/79
9/79

442
90
441
37

51
18
51
18,51

89
62
89
62,89

3/80
2/80
3/80
2/80

920
920c
961
940
9
72
112

10
39
36
11
23
15,35
32

60
74'"
60
66
73
72

7/80
7/80
6/79
9/80
8/79
6/79
6/79

345

49

87

11/80

34bu
280

50
45

87
82

11/80
11/79

64

30,47

70,83

9/79

346

49

88

11/80

10/80;

346e

50

88

11/80

340

49

87

10/80

340c

50

87

10/80

341

49

87

10/80

341c
348
349

50
50
50

87
88
88

10/80
11/79
11/79

53

19

63

4/80

i/72*
1/72

Series titles
(See complete titles in "Titles and Sources of
Series," following this index}

Charts

Composite indexes
Coincident indicators
Four coinciders
Four coinciders rate of change
,
Ratio to lagging indicator index
Lagging indicators
Six laooprs
. ..
Six laggers rate of change
. .,
Leading indicators
Capital investment commitments
Inventory investment and purchasing
Marginal employment adjustments
Money and financial flows
Profitability
Twelve leaders
Twelvs leaders rate of change
Construction
Building permits new private housing
Contracts awarded, commercial and industriaj, bldgs. . .
Expenditures, plus machinery and equipment sales
Gross private domestic fixed investment
Nonresidential as percent of GNP
Nonresidential structures constant dollars
Nonresident ial 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.




Tables

Historical Series
data descriptions
(issue date (issue date)

10
39
11

60

7/8G

60

7/80
9/80

930
930c

10
39

60

7/80
7/80

914
915
913
917
916
910
910c

11
11
11
11
11
10
39

60
60
60
60
60
60

9/80
9/80
9/80
9/80
9/80
7/80
7/80

29
9
69

13,25
23
24

67
66
67

8/80
8/79
8/80

4/69

248
87
88
249
89
28

47
25
25
47
25
25

83
67
67
83
67
67

11/79
9/79
9/79
11/79
9/79
3/80

10/69*

8
75

12,21
22

64
65

7/80
12/79

66
113
95
39

35
32
15,35
33

73
72
73
72

11 /SO
11/80
8/79
10/80

10/72
10/72

320
320c
322
322c
58

49
49,59
49
49
22

84,95
84,95
84
84
65

5/80
S/BO
5/80
5/80
8/80

5/69*
5/69*
5/69*
5/69*
11/68*

20
10
116

12,23
23
34

66
66
73

7/80
7/80
11/80

9/68*
7/64

112
110
72

32
32
15,35

72
72
73

6/79
11/79
6/79

11/73
7/64
11/72

66
113
95
39
33

35
32
15,35
33
32

73
72
73
72
71

11/80
11/80
8/79
10/80
4/80

10/72
10/72

525
564
548
517

53
£5
53
S3

90
91
90
90

5/80
10/79
8/80
5/80

39
32

All items percent chances
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 del. . .
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,

920
920c
940

33
12,21

72
64

10/80
10/80

11/72
12/74

38
37
36
38
36
37
'a?'*'

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

10/00
10/80
6/79
10/80
9/80
5/80

11/68*

11/75*

11/75*

5/75*

9/68*

10/69*
6/72

11/72

11/72

D

Debt-See Credit.
4/72* Defense
Military prime contract awards
National defense purchases
4/72*
New orders defsnse products
4/72*
Obligations incurred
11/75* Deficit-See Government,
Deflators-See Price indexes.
Delinquency rate consumer installment loans
Deliveries vendor performance
Diffusion indexes
Business expenditures, new plant and equipment
li/72
Capital appropriations manufacturing
11/72
Coincident indicators
Employees, manufacturing and trade
10/72*
Industrial materials prices
Industrial materials prices, components
10/72*
Industrial production
10/69
Industrial production components
Initial claims, State unemployment insurance
10/69*
Inventories manufacturing and trade
10/72*
Leading indicators
,
New orders durable goods industries
10/72*
New orders, durable goods industries, components
6/72*
Prices, 500 common stocks
Prices selling manufacturing
6/72*
Prices selling retail trade
Prices selling wholesale trade
6/72*
Profits, manufacturing
Profits net manufacturing and trade
6/72*
Sales, net, manufacturing and trade
6/72*
Workweek, mfg. production workers
6/72*
Workweek, mfg. production workers, components
Disposable personal income-See Income.

„

970
965
951
974
963
967
966
962
975
952
950
964

36
33
36
36
37

971
968
976
978
977
960
972
973
961

38
37
38
38
38
37
38
38
36

NOTE: The following abbreviations are used in this index: Cl, composite index; Dl, diffusion index; GPDI, gross private domestic investment; and NIPA, national income and product accounts.
*The identification number for this series has been changed since the publication date shown.

110

Current issue
(page numbers)

Series
number

10/69*

ii/68*
4/69*

9/79*
li/80
10/80
6/79
6/79
9/80

6/69*
11/68*

ib/eo

ii/68*
5/69*
11/68*
11/68*
11/68*

9/79
10/80
10/80
10/80
10/79
10/80
10/80
9/80

ii/68*
11/68*

ALPHABETICAL INDEX-SERIES FINDING GUIDE-Continued
Series titles
(See complete titles in "Titles and Sources of
Series," following this index)

Current issue
(page numbers)

Series
number

Charts

Tables

Historical
Series
data descriptions
(issue date) issue date)

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
Ouit rate manufacturing
Unemployed bothsexes 16-19yearso!rJ
Unemployed, females 20 years and over
Unemployed full-time workers
Unemployed males 20 years and over
Unemployment average duration
Unemployment rate, 1 5 weeks and over
Unemployment rate insured average weekly
Unemployment rate, total
Unemployment total civilian
Workweek, mfg. production workers
Workweek, mfg. production workers, components
Workweek, mfg. production workers, Dl
Equipment-See Investment, capital.
Exports-See Foreign trade and International transactions.

2
441

16
51

61
89

8/80
3/80

48

17

61

9/80

48c
40
974
41
963
90
442
46
60
5
962
3
913
21
453
452
451
448
42
4
446
445
447
444
91
44
45
43
37
1

39
17
38
14,17
36
18
51
17
17
16
36
12,16
11
16
51
51
51
51
17
16
51
51
51
51
15,18
18
18
18
18,51
12,16

62'"

9/80
9/80

961

36*"

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

10/80
9/80
9/80
2/80
3/80

11/80
2/80
7/80

11/80
8/80
9/80
8/80
3/80
3/80
3/80
3/80
2/80
8/80
3/80
3/80
3/80
3/80
3/80
2/80
8/80
2/80
2/80
8/80
9/80

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 in vestment -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 ag1 icultural products
Exports of go jds and services, constant dol., N 1 PA
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
1 mports of automobiles and parts
Imports of goods and services, constant dol., NIPA
Imports of goods and services, current dol., NIPA
Imports of goods and services, total
Imports of petroleum and products
Net exports, goods and services, constant dol., 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

11/80

94
213
917

33
40
11

72
80
60

9/80
9/80

311
31U

48
48

84
84

11/79
11/79

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

7/80
7/80
7/80
8/80
8/80

93

33

72

10/79

11/79
11/79
7/80
8/80
7/80
8/80
8/80

11/79
11/79
7/80
8/80

11/79
11/79
11/79
9/80

G
Goods output in constant dollars
Government budget, NIPA
Federal expenditures
Federal receipts
Federal surplus or deficit
State and local expenditures
State and local receipts
.
State and local surplus or deficit
Surplus or deficit, total
Government purchases of goods and services
Federal constant dollars
Federal current dollars
Federal, percent of GNP
National defense
State and local constant dollars
State and local, current dollars
State and local, percent of GNP
Total, constant dollars
Total, current dollars

49
. .
....

20

63

9/79

502
501
500
512
511
510
298

52
52
52
52
52
52
46

90
90
90
90
90
90
83

9/79
9/79
9/79

10/79
10/79
10/79
11/79

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

11/79
11/79
11/79
10/79
11/79
11/79
11/79
11/79
11/79

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
8/68
GNP constant dollars . . .•
4/72*
GNP constant dollars differences
GNP constant dollars, percent changes
8/68*
GNP current dollars
8/68*
GNP current dollars differences
GNP current dollars percent changes
11/68*
GNP ratio to money supply
8/68
Goods output in constant dollars
Implicit price deflator
Implicit price deflator, percent changes
4/72*
Per capita GNP constant dollars
12/74 Gross private domestic invest. -See Investment, capital.
6/69'
6/69*
8/68*
12/74

4/72

Current issue
(page numbers)

Series
number

Charts

Tables

Historical Series
data descriptions
(issue date) jssupdate)

48
48
30

84
84
70

11/79
11/79
9/79

7/68

19,40

10/79
10/79
10/79
10/79
10/79
10/79

10/69*
10/69*
10/69*
10/69
10/69
10/69

217

31 "'
20
48
48
40

63,80
80
80
80
80
80
71
63
84
84
80

46
60

17
17

61
61

21
1

16
12,16

8/80
8/80

961

36*"

61
61
77
74

28
29
89
249

25
13,25
25
47

67
67
67
83

3/80
8/80
9/79

6/72
4/69

11/79

10/69*

48
48

84
84

11/79
11/79

10/69*
10/69*

311
311c

68
50
50b
50c
200
200b
200c
107
49
310
310:

39
40

7/80
9/79

11/79
11/79
10/79

10/69*
10/69*
10/69

11/80

12/74

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

2/80

12/74
8/68

9/80

1
4/72'
Implicit price deflator GNP
310
Implicit price deflator GNP percent changes ,
310c
Imports-See Foreign trade and International transactions.
8/68
Income
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, pet. of nat'l. income ....
64
Compensation, real average hourly, all employees,
11/73
nonfarm business sector
346
Compensation, real average hourly, all employees,
nonfarm business sector, percent changes
346c
Consumer installment debt, ratio to personal income . . 95
Corporate profits with IVA and CCA
286
Corp. profits with IVA and CCA, pet. of nat'l. income .
287
Disposable personal income, constant dollars
225
Disposable personal income, current dollars
.... •224
Disposable personal income, per capita, constant dol. . . 227
Earnings, average hourly, production workers,
340
private nonfarm economy
Earnings, average hourly, production workers,
5/69*
private nonfarm economy, percent changes
340c
5/69*
Earnings, real average hourly, production
workers, private nonfarm economy
341
Earnings, real average hourly, production
5/69
workers, private nonfarm economy, percent changes .
341 c
5/69*
652
Income on foreign investment in the US . .
651
Income on U S investments abroad
5/69*
Interest net
288
5/69*
Interest net percent of national income
289
National income
220
Personal income constant dollars
52
5/69
223
Personal income current dollars
5/69*
Personal income, less transfers, constant dollars
51
Personal income, less transfers, constant dols. rate of chg.
51c
Personal income ratio to money supply
108
5/69
282
Proprietors' income with IVA and CCA
10/69*
Proprietors' income with IVA and CCA, percent
283
of national income
.
..
284
11/72
Rental income of persons with CCA
Rental income of persons with CCA, pet. of nat'l. income 285
348
Wage and benefit decisions, first year
Wage and benefit decisions life of contract ,
349
53
Wages and salaries, mining, mfg., and construction
13
Incorporations, new businesses
23
7/68*
Industrial materials prices
7/68*
967
7/68*
Industrial materials prices Dl
Industrial production - See also International comparisons.
76
Business equipment
75
Consumer goods
73
10/69
Durable manufactures
74
Nondurable manufactures
47
11/73
Total
10/69
Total components
966
10/69*
Total Dl
47c
10/69*
Total rate of change
Installment debt-See Credit.
11/73
Insured unemployment
10/69
5
Avg. weekly initial claims, unemploy. insurance
10/69*
Avg. weekly initial claims, unemploy. insurance, Dl ... 962
Avg weekly insured unemployment rate . .
45
10/69
6/69
4/72

4/72*

49

87

11/80

10/72*

50
45
30,47

87
82
70,83

11/80

9/79

10/72*
10/69
10/69*

49

88

n/so

10/72*

50
15,35
45
47
40
40
40

88
73
82

10/72*

80
80

11/80
8/79
11/79
11/79
10/79
10/79
10/79

49

87

10/80

6/72*

50

87

10/80

6/72*

49

87

10/80

6/72*

50
57
57
45
47
45
19
40
14,19
39

87
93
93
82
83
82
63
63
63

10/80
7/80
7/80
11/79

6/72*
5/69*
5/69*
10/69
10/69*
10/69

11

71
82

4?
45
47
50
50
19
23
28

83
82
83
88
88
63
65
69
79
75

37
24
22
20
20
14,20,58
37
39
16
36
18

1

67
65
63
63
63,94
78
75

61
74
62

n/79

n/79

10/79
2/80
1/80
10/80
10/80
6/80
11/79

10/69
10/69*
10/69
10/69
10/69

7/68*

10/69

11/79
11/79

10/69*
10/69
10/69*
6/72*
6/72*

4/80
3/80
5/80

4/69'

5/80

4/69*

11/79
11/79

n/79

1/80

12/79
12/79
12/79
9/80

11/68

9/79
9/80

7/80

6/69

11/80

6/69*

8/80

6/69

NOTE: The following abbreviations are used in this index: Cl, composite index; DI, diffusion index; GPDI, gross private domestic investment; and NIPA, national income and product accounts.
*The identification number for this series has been changed since the publication date shown.




111

ALPHABETICAL INDEX-SERIES FINDING GUIDE-Continued
Series titles
(See complete titles in "Titles and Sources of
Series," following this index)

Interest, net
Interest, not, percent of notional income
Interest rates
Bonk rates on short-term business loans
Corporate bond yields
Federal funds rate
Mortgage yields secondary market
Municipal bond yields
Prime rate chawed by batiks
Treasury bill rato
Treasury bond yields
,
Intermediate materials-See Wholesale prices,
International comparisons
Consumer prices
Canada, index
,
Canada, percent champs
France, index
F rones percent changes
Italy index
Italy, percent chonnos
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
OKCO, European countries
United Kingdom
United States
West Germany
Stock priees
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, exe. military
Exports, merchandise, total exc military aid
Exports of agricultural products
Exports of goods and services exe military
Exports of nonelectrical machinery
Imports, rner chandise, adjusted, exc. military ........
Imports, merchandise total
Imports of flu to mobiles and parts
Imports of cjoodsand 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 GN.P
Finished pods, manufacturers'
Inventories on hand and on order, not 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, PI
Materials and supplies on hand and on order, mfg
Materials and supplies on hand and on order, mfg.,
change
Investment, capital
Capital appropriations, manufacturing, baekloq
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.
Nooresidential total constant dollars
Nonresidontial, total, percent of GNP
Producers' durable equip., nonresid., constant dol. . .
Residential, total, constant dollars
Residential, total, percent of GNP
Structures, nonresidential, constant dollars
Total, constant dollars
Total, current dollars
New orders, capital goods, nondelcnse, constant
dollars
New orders, capital goods, nondefense, current
dollars

Current issue
(pap numbers)

Series
number

Charts

Historical
Series
data descriptions
(issue date) (issue date)

Tables

Series titles
(See complete titles in "Titles and Sources of
Series," following this index)

288
289

45
47

82
83

11/79
11/79

10/69
10/69*

67
1Hi
119
118
117
109
114
115

35
34
34
34
34
35
34
34

73
73
72
73
73
73
72
73

8/79

12/74

11/80
11/80
11/80
11/80
11/80
11/80
11/80

7/64

11/80
11/80
11/80
11/80
11/80
11/80
11/80
11/80
11/80
11/80

9/72*

Labor cost per unit of gross domestic product
Labor cost per unit of output manufacturing . ,,.,,.
Labor cost per unit of output, private business sector —

723
726
727
728
721
722
47
725

58
58
58
58
58
58
14,20,58
58

94
94
94
94
94
94
63,94
94

3/80
2/79
2/79
2/79
2/79
2/79
9/80
2/79

743
746
747
748
742
19
745

59
59
59
59
59
59
59

96
96
96
96
96
96
96

6/79
6/79
6/79
6/79
6/79
6/79
6/79

6B7
622
618
802
604
668
606
620
612
618
669
614
652
651

57
57
57
56
56
57
56
57
56
56
57
56
57
57

93
93
93
92
92
93
92
93
92
92
93
92
93
93

7/80
7/80
7/80
8/80
8/80
7/80
8/80
7/80
8/80
8/80
7/80
8/80
7/80
7/80

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

8/80

38

26

68

Charts

8/80

11/73
7/64
7/64

11/73
7/64
7/64

Plant and equipment
Business expenditures, new
Business expenditures, nsw, Dl
Contracts and orders, constant dollars

61
970
20
10

24
38
12,23
23

67
76
66
66

10/80
10/80

11/68
11/68*

7/80
7/80

9/68

652
651

57
57

93
93

7/BO
7/80

5/69*
5/69*

68
62
63
26

30
15,30
30
29

70
70
70
70

9/79

7/68

12/79

11/68
10/72

930
930c
952
3

10
39
36
12,16

60

7/80
7/80
6/79
8/00

910

10
39
36
33
13,31

60

913
78

n

Investment, foreign
Income on US investments abroad
Italy-See International comparisons.

J
Japan-See International comparisons.

733
733c
736
736e
737
737c
738
738c
732
732c
320
32Qc
735
735e

59*"
59*"
59*"

59
59
49
49,59

n

5/80
5/80

11/80
11/80

,

9/72*

Labor force-See Employment and unemployment.
Lagging indicators, six
Composite index
Composite index rate of change
Diffusion index
5/69*
5/69* Layoff rate manufacturing
9/72* Leading indicators, twelve
Composite index
,
Composite index rate of change
Diffusion index
10/72*
10/72* Liabilities of business failures
10/72* Liquid assets change in total ,
10/72* Loans-See Credit.

112

7/80
7/80

9/72*
9/72*

M
10/72*
11/68
Man-hours-See Employment and unemployment.
10/72*
Marginal employment adjustments, Cl
Materials and supplies on hand and on order, mfg
Materials and supplies on hand and on order, mfg.
change
Materials, crude and intermediate-See Wholesale prices.
Materials, industrial-See Price indexes.
Materials, new orders for consumer goods and
Materials rate of capacity utilization
Merchandise trade-See Foreign trade.
Military-See Defense.
Money and financial flows Cl
5/69* Money supply
5/69*
Liquid assets chang6 in total
Money supply M1
5/69*
Money supply M1 percent changes
Money supply M2
Money supply M2 percent changes
5/69*
Ratio GNP to money supply Ml
5/69*
Ratio personal income to money supply M2
,
5/69* Mortgage debt net change
Mortage yields secondary market
,.
5/69* Municipal bond yields
5/69*
N

74*"

61

74'"

7/80
7/80
6/79

72
71

27

60
68

86

68

12,21
20

64
64

7/80
9/79

917

11

60

9/80

104
105
85
106
102
107
108
33
118
117

13,31
31

71
71
71
71
71
71
71
71
73
73

6/80
6/80
6/80
6/80
6/80
7/80
6/80
4/80

27
24
8
20
10
548
7
6

23
23
12,21
12,23
23
53
21
21

964
971

37
38

66
66
64
66
66
90
64
64
77
75
76

88
87
86
248

25
25
25
47

67
67
67
83

11/79

517
721

53
58

90
94

5/80
2/79

49
62
358
370
370c
83
82
84
21

20
15,30
50
50
50
20
20
20
16

63
70
88
88
88
64
64
64
61

5/75*

8/80

8
84

8/68*

9/80
8/BO

38

11/75*

6/80

9/79

910c

950
14
104

:n

13,31
31
31
31
32
34
34

10/80

11/80
11/80

10/72
10/72

7/64*
7/64

9/79

11/79
11/79
8/80
8/80
1/80
9/80

12/79
12/79
9/80

10/80

97
11
965
914
9

24
24
37
11
23

66
66
75
60
66

24

67

8/80

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

9/80
8/79

69

10/69 National defense-See Defense.
10/69* National Government-See Government.
National income-See Income.
9/68
New orders, manufacturers'
Capital goods industries, nondefense, constant dol
Capital goods industries, nondefense, current dol
Consumer goods and materials, constant dollars
Contracts and orders, plant and equip., constant dol. . .
2/69
Contracts and orders, plant and equip., current dol. , . .
2/69
Defense products
,.
11/68*
Durable goods industries, constant dollars
Durable goods industries current dollars
....

10/80
10/80
10/80

8/80
8/80
7/80
7/80
7/80
8/80
7/80
7/80

9/80*
10/80

9/68

9/68

9/68

11/68*

9/79
9/79
9/79

10/69*

9/68*

0
243
242

42
42

81
81

11/79
10/79

86
248
88
89
249
87
241
240

25
47
25
25
47
25
42
42

67
83
67
67
83
67
81
81

9/79

27

23

66

8/80

24

23

66

11/79
9/79
9/79

11/79
9/79

10/79
10/79

8/80

Obligations incurred Defense Department
OECD European countries industrial production
Orders-See New orders and Unfilled orders.
10/69* Output-See also Gross national product and
Industrial production.
Goods output constant dollars .
. . .
Labor cost psr unit of
10/69*
Per hour nonfarm business ssctor
Per hour private business sector
10/69
Per hour, private business sector, percent changes
Ratio to capacity manufacturing (BEA)
9/68

Ratio to capacity materials
Overtime hours, production workers, manufacturing

NOTE: The following abbreviations are used in this index: Cl, composite index; Dl, diffusion index; GPDI, gross private domestic investment; and NIPA, national income and product accounts.
*The identification number for this series has been changed since the publication date shown.




Tables

Historical &ries
data descriptions
(issue date) (issue date)

L

9/72*

59*"

96
96
95
95
96
96
95
95
95
95
84,95
84,95
95
95

Current issue?
(page numbers)

Series
number

12/79

11/68
6/68*
10/72*
10/72*

9/79"
9/79
9/79
8/80

i2/74

ALPHABETICAL INDEX-SERIES FINDING GUIDE-Continued
Series titles
(See complete titles in "Titles and Sources of
Series," following this index)

Current issue
(page numbers)

Series
number

Charts

Tables

Historical
Series
data descriptions
(issue date) (issue date)

P
Participation rates, civilian labor force
Both sexes, 1 6-1 9 years of age
Females 20 years and over
Males 20 years and over
...
Personal consumption expenditures
Automobiles . .
....
Durable goods constant dollars
Durable goods, current dollars
.....
Nondurable goods constant dollars
Nondurable goods current dollars
. ..
Services constant dollars
Services current dollars
Total constant dollars
Total current dollars
Total percent of GNP
Personal income-See Income.
Personal saving
Personal saving rate
Petroleum and products imports
Rant and equipment-See also Investment, capital.
Business expenditures for
...
Business expenditues for Dl
Contracts and orders for constant dollars
P i t *
"T
lo ' t
f
Price indexes
Consumer prices-See also International comparisons.
All iterns index
All items, percent changes
Food index
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

51
51
51

89
89
89

3/80
3/80
3/80

55
233
232
238
236
239
237
231
230
235

22
41
41
41
41
41
41
41
41
47

65
80
80
81
81
81
81
80
80
83

9/79

292
293
614

46
46
56

82
83
92

11/79
11/79

61
970
20
10
90

24
38
12,23
23
18

67
76
66
66
62

10/80
10/80

11/68
11/68*

7/80
7/80
2/80

9/68*

320
320c
322
322c

49
49,59
49
49

84,95
84,95
84
84

5/80
5/80
5/80
5/80

5/69*
5/69*
5/69*
5/69*

11/79
11/79
11/79
11/79

10/69*
10/69*

5/80

5/80*

4/69*

311

10/79
10/79
10/79
10/79
10/79
10/79
10/79
10/79
10/79

f •h H
H'
' "h '
Crude materials index
Crude materials percent changes
Intermediate materials percent changes
Producer finished goods, index
Producer finished goods, percent changes
Prices, selling
Manufacturing 01
Retail trade Dl
Wholesale trade Dl

p.

,

' ,, ." ,

Producer finished goods- See Wholesale prices.
Producers' durable equipment nonresid GPD 1
Product ion -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 IVA and CCA,
Corporate, after taxes, with IVA and CCA, cur. dol. . . .
Corporate with IVA and CCA
...
Corporate, with IVA and CCA, pet. of nat'l. income . . .
Manufacturing and trade Dl
Manufacturing Dl
Per dollar of sales manufacturing
Profitability Cl

23

48
48
48
48
28

967
26
92

37
29
13,28

84
84
84
84
69
79
75
70
69

19
968

13,28
37

69
75

9/79
9/79

330
330c
334
334c
331
332
332c
333
333c
26

48
48
48
48
48
48
48
48
48
48
29

85
85
86
86
85
85
86
86
86
86
70

6/80
6/80
5/80
5/80
6/80
6/80
6/80
6/80
6/80
6/80
7/80

38
38
38
53
35

76
76
76
90
73

10/80
10/80
10/80

88

25

67

9/79

358
370
370c
916

50
50
50
11

88
88
88
60

18
16

28
28

69
69

9/79
9/79

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

10/69
10/69
10/69
10/69*
10/69
7/68*

9/79
9/79

81
282
283

29
45
47

70
82
83

9/79

16

61

8/80

284

45

82

11/79

285

47

83

11/79

310
310c

331c

5/80

11/80

33
25
47

72
67
83

9/80
9/79

11/72

11/79

10/69*

59
54

22
22

65
65

6/80
6/80

6/72'

40

80

10/79

24
14,22
22
38
27
22
22

67
65
65
76
68
65
65

8/80
1/80
1/80

9/68*

10/80

11/68*

1/80
6/80
6/80

6/72

46
46
46
46
46

82
83
82
82
83

11/79
11/79
11/79
11/79
11/79

10/69
10/69
10/69
7/68*

13,28

69

4/80

13,28
37
27

69
75
68

9/79
9/79
8/80

26

68

8/80

34
34

72
73

11/80
11/80

91
60
5
962
3

15,18
17
16
36
12,16

62
61
61
74
61

3/80
2/80
7/80
8/80

446
445
447
444
37
4

51
51
51
51
18,51
16

89
89
89
89
62,89
61

3/80
3/80
3/80
3/80
2/80
8/80

44
45
43

18
18
18

62
62
62

2/80
8/80
2/80

4/72
6/69
4/72

96
25

21
21

64
64

8/80
8/80

9/68
9/68

107
108
32

31
31
12,21

71
71
64

7/80
6/80

10/80

12/74

11/79
11/79
10/80
10/79

7/80
9/80
9/79

330
330c
334
334c
331
331 c
332
332c
333
333c
92
1

48
48
48
48
48
48
48
48
48
48
13,28
12,16

85
85
86
86
85
85
86
86
86
86
69
61

6/80
6/80
5/80
5/80
6/80
6/80
6/80
6/80
6/80
6/80
4/80
8/80

6/69*

11/79

11/79

R

36

77
74

9/80 '

Salaries-See Compensation.
Sales
Final sales, constant dollars
213
Machinery and equipment sales and business
construction expenditures
69
Manufacturing and trade sales, constant dollars
57
Manufacturing and trade sales, current dollars
56
Manufacturing and trade sales, Dl
973
Ratio, inventories to sales, mfg. and trade
77
59
Retail sales, constant dollars
54
Retail sales current dollars
Saving
Business saving
295
298
Government surplus or deficit
Gross saving private and government
290
292
Personal saving .
Personal saving rate
293
Selling prices-See Prices, selling.
Sensitive prices, change in
92
State and local government-See Government.
Stock prices-See also International comparisons.
19
500 common stocks
968
500 common stocks, Dl
Stocks of materials and supplies on hand and on order . . . 78
Stocks of materials and supplies on hand and on order,
38
change
Surplus-See Government.

2/69

5/69

'

5/69*

T
Treasury bill rate . .
Treasury bond yields

7/64
7/64

5/69

5/69*

U

6/69*

Unemployment
Duration of unemployment, average
Help-wanted advertising to unemployment, ratio
Initial claims, avg, weekly, unemploy. insurance
Initial claims, avg. weekly, unemploy. insurance, Dl . . .
Layoff rate, manufacturing
Number unemployed, civilian labor force
Both sexes 16-19 years of age ..,.
....
Females 20 years and over
Full-time workers
Males 20 years and over
Total unemployed
11/68*
Quit rate, manufacturing
11/68*
Unemployment rates
11/68*
1 5 weeks and over
Insured, average weekly
li/73
Tota!
Unfilled orders, manufacturers'
Durable goods industries
Durable goods industries change in
6/68* United Kingdom-See International comparisons.

10/72*
10/72*

Q

Rental income of persons, with CCA
Rental income of persons, with CCA, percent of national
income

93
89
249

S

10/69
10/69

9/80

311c

Ratio, profits with IVA and CCA to corporate domestic
Proprietors' income with IVA and CCA
Proprietors' income with IVA and CCA, pet. of nat'l. inc..

Tables

10/69*

8/80

4

U

Charts

Series
Historical
data descriptions
(issue date) (issue dato)

4/69

7/80
4/80

Current issue
(page numbers)

Series
number

114
115

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

453
452
451

976
978
977
525
109

Stock prices-See also International comparisons.
500 common stocks
500 common stocks D 1
Wholesale prices
All commodities index
All commodities, percent change

Series titles
(See complete titles in "Titles and Sources of
Series," following this index)

1/72
7/68

10/69
10/69*
11/68*

11/80

6/69

6/69*
8/68*

4/72*

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
7/68
All commodities percent changes
Consumer finished goods, index
Consumer finished goods, percent changes
10/69
Crude materials index
10/69*
Crude materials percent changes
Intermediate materials index
Intermediate materials, percent changes
Producer finished goods, index
Producer finished goods percent changes
Sensitive prices change in
Workweek of production workers, manufacturing
Workweek of production workers, manufacturing,
10/69
components
....
10/69* Workweek of production workers, manufacturing, Dl . . . .

3/69*

961

8/68"

NOTE: The following abbreviations are used in this index: Cl, composite index; D I, diffusion index; GPD I, gross private domestic investment; and NIPA, national income and product accounts.
*The identification number for this series has been changed since the publication date shown.




113

TITLES AND SOURCES OF SERIES
Series are listed below according to the sections of this report
in which they appear. Series numbers are for identification
only and do not reflect relationships or order among the
series. "M" following a series title indicates monthly data;
"Q" indicates quarterly data. Data apply to the whole period
except when indicated by "EOM" (end of month) or "EOQ"
(end of quarter).
To save space, the commonly used sources listed below are
referred to by number;
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 Analysts and National Bureau of
Economic Research, Inc. (Used by permission. This
series may not be reproduced without written
permission from the source.)
(23,66)
10. Contracts and orders for plant and equipment in current
dollars (M).-Source 2 and McGraw-Hill Information
Systems Company; seasonal adjustment by Bureau of
the Census and Bureau of Economic Analysis (23,66)
11. Newly approved capital appropriations, 1,000
manufacturing corporations (Q).-The Conference
Board
(24,66)
12. Index of net business formation (M).—Source 1;
seasonal adjustment by Bureau of Economic Analysis
and National Bureau of Economic Research,
Inc.
(12,23,65)

Following the source for each series is an indication of the
pages on which that series appears. The "Series Finding
Guide" also lists chart and table page numbers for each
series.

13. Number of new business incorporations (M).—Dun &
Bradstreet, Inc.; seasonal adjustment by Bureau of
Economic Analysis and National Bureau of Economic
Research, Inc.
(23,65)

I-A. Composite Indexes

14. Current liabilities of business failures (M).—Dun &
Bradstreet, Inc.
(33,72)

910. Composite index of twelve leading indicators (includes
series 1, 3, 8, 12, 19, 20, 29, 32, 36, 92, 104, 106)
(M).-Source 1
(10,39,60)
913. Composite index of marginal employment adjustments
(includes series 1, 2, 3, 5) (M).-Source 1 (11,60)

15. Profits (after taxes) per dollar of sales, all
manufacturing corporations (Q).—Federal Trade Commission and Securities and Exchange Commission;
seasonal adjustment by Bureau of Economic
Analysis
(29,70)

914. Composite index of capital investment commitments
(includes series 12, 20, 29) (M).-Source 1 (11,60)

16. Corporate profits after taxes in current dollars (Q).—
Source 1
(28,69)

915. Composite index of inventory investment and
purchasing (includes series 8, 32, 36, 92) (M).—Source
1
(H60)
916. Composite index of profitability (includes series 19, 26,
80) (M).-Source 1
(11,60)

18. Corporate profits after taxes in 1972 dollars (Q).—
Source 1
(28,69)

33. Net change in mortgage debt held by financial
institutions and life insurance companies (M),American Council of Life Insurance; Federal National
Mortgage Association; U.S. Department of Housing and
Urban Development, Government National Mortgage
Association; National Association of Mutual Savings
Banks; U.S. Savings and Loan League; and source 4;
seasonal adjustment by Bureau of Economic
Analysis
(32,71)
34. Net cash flow, corporate, in current dollars (Q).—
Source 1
(29,70)
35. Net cash flow, corporate, in 1972 dollars (Q).-Source
1
(29,70)
36. Net change in inventories on hand and on order in 1972
dollar; (smoothed) (M).- Sources 1,2, and 3(13,26,68)
37. Number of persons unemployed, labor force survey
(M).-Sources 2 and 3
(18,51,62,89)
38. Change in stocks of materials and supplies on hand and
on order, manufacturing (M).- Source 2
(26,68)
39. Percent of consumer installment loans delinquent 30
days and over (EOM).—American Bankers
Association
(33,72)
40. Number of employees in nonagricultural goodsproducing industries—mining, manufacturing, and
construction (M).-Source 3
(17,62)
41. Number of employees on nonagricultural payrolls,
establishment survey (M).-Source 3
(14,17,62)
42. Number of persons engaged in nonagricultural activities,
labor force survey (M)-Sources 2 and 3
(17,62)
43. Unemployment rate, total (M).-Sources 2 and 3(18,62)

19. Index of stock prices, 500 common stocks (M).—
Standard & Poor's Corporation
(13,28,59,69,96)

44. Unemployment rate, persons unemployed 15 weeks and
over (M).-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)

940. Ratio, coincident composite index (series 920) to lagging composite index (series 930) (M).—Source
1
(11,60)

1-B. Cyclical Indicators
1. Average workweek of production workers,
manufacturing (M).-Source 3
(12,16,61,77)
2. Accession rate, manufacturing (M).—Source 3 (16,61)

23. Index of industrial materials prices (M).—Source
3
((28,69,79)
24. Value of manufacturer's new orders, capital goods
industries, nondefense, in current dollars (M),-Source
2
(23,66)
25. Change in manufacturers' unfilled orders, durable goods
industries (M).-Source 2
(21,64)

47. Index of industrial production, total (M).—Source
4
(14,20,39,58,63,78,94)
48. Employee-hours in nonagricultural
(M).-Source 3

establishments
(17,39,61)

49. Value of goods output in 1972 dollars (Q).-Source
1
(20,63)
50. Gross national product in 1972 dollars (Q).—Source
1
(19,39,40,63,80)
51. Personal income, less transfer payments, in 1972 dollars (M).-Source 1
(14,19,39,63)

26. Ratio, implicit price deflator to unit labor cost, nonfarm
business sector (Q).-Sources 1 and 3
(29,70)

52. Personal income, total, in 1972 dollars (M).-Source
1
(19,63)

27. Value of manufacturers' new orders, capital goods
industries, nondefense, in 1972 dollars (M).—Sources
1, 2, and 3
(23,66)

53. Wage and salary income in mining, manufacturing, and
construction in 1972 dollars (M).—Sources 1 and
3
(19,63)

28. New private housing units started, total (M).—Source
2
(25,67)

54. Sales of retail stores in current dollars (M).-Sourcc
2
(22,65)

29. Index of new private housing units authorized by local
building permits (M).-Source 2
(13,25,67)

55. Personal consumption expenditures, automobiles (Q).Source 1
(22,65)

7. Value of manufacturers' new orders, durable goods
industries, in 1972 dollars (M).-Sources 1, 2, and
3
(21,64)

30. Gross private domestic investment, change in business
inventories, all industries, in 1972 dollars (Q).—Source
1
(26,42,68,81)

56. Manufacturing and trade sales in current dollars (M).—
Sources 1 and 2
(22,65)

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 reporting
slower deliveries (M).—Purchasing Management
Association of Chicago
(12,21,64)

3. Layoff rate, manufacturing (M).-Source 3 (12,16,61)
4. Quit rate, manufacturing (M).-Source 3
(16,61)
5. Average weekly initial claims for
insurance, State programs (M).-U.S.
Labor, Employment and Training
seasonal adjustment by Bureau
Analysis

unemployment
Department of
Administration;
of Economic
(16,61)

6. Value of manufacturers' new orders, durable goods
industries, in current dollars (M).-Source 2(21,64,77)

114



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
(34,72)

60. Ratio, help-wanted advertising in newspapers (series
46) to number of persons unemployed (series 37)
(M).-Sources 1, 2, 3 f and The Conference
Board
(17,61)

84. Rate of capacity utilization, materials (Q).-Source
4
(20,64)

119. Federal funds rate (M).-Source 4

85. Change in money supply Ml-B (M).-Source 4(31,71)

1-C. Diffusion Indexes

61. Business expenditures for new plant and equipment,
total (Q).-Source 1
(24,67)

86. Gross private domestic fixed investment, total
nonresidential, in 1972 dollars (Q).-Source 1(25,67)

950. Diffusion index of twelve leading indicator components
(M).-Source 1
(36,74)

62. Index of labor cost per unit of output, total
manufacturing—ratio, index of compensation of
employees in manufacturing (sum of wages, salaries,
and supplements to wages and salaries) to index of
industrial production, manufacturing (M).—Sources 1
and 4
(15,30,70)

87. Gross private domestic fixed investment, nonresidential
structures, in 1972 dollars (Q).-Source 1
(25,67)

951. Diffusion index of four roughly coincident indicator
components (M).-Source 1
(36,74)

88. Gross private domestic fixed investment, nonresidential
producers' durable equipment, in 1972 dollars (Q).Source 1
(25,67)

952. Diffusion index of six lagging indicator components

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, alt manufacturing industries (EOM).—Source
2
(27,68)

91. Average (mean) duration of unemployment in weeks
(M).-Sources 2 and 3
(15,18,62)

66. Consumer installment debt (EOM).-Source 4; FRB
seasonally adjusted net change added to seasonally
adjusted figure for previous month to obtain current
figure
(35,73)

92. Change in sensitive prices (PPI of crude materials less
agricultural products) (smoothed) (M).—Sources 1 and

3

(13,28,69)

93. Free reserves (member banks excess reserves minus
borrowings) (M).-Source 4
(33,72)

67. Bank rates on short-term business loans (Q),-Source
4
(35,73)

94. Member bank borrowings from the Federal Reserve
(M).-Source 4
(33,72)

68. Labor cost (current dollars) per unit of gross domestic
product (1972 dollars), nonfinancial corporations—ratio
of current-dollar compensation of employees to real
gross corporate product (Q).-Source 1
(30,70)

95. Ratio, consumer installment debt to personal income
(EOM).-Sources 1 and 4
(15,35,73)

69. Manufacturers' machinery and equipment sales and
business construction expenditures (industrial and commercial construction put in place) (M).—Source
2
(24,67)
70. Manufacturing and trade inventories in 1972 dollars
(EOM).-Sources 1, 2, and 3
(15,27,68)
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)

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)

(20,63)

74. Index of industrial production, nondurable
manufactures (M).-Source 4
(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)
79. Corporate profits after taxes with inventory valuation
and capital consumption adjustments in current dollars

(Q).-Source 1

(28,69)

80. Corporate profits after taxes with inventory valuation
and capital consumption adjustments in 1972 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)
82. Rate of capacity utilization, manufacturing (Q).—Source
4
(20,64)
83. Rate of capacity utilization, manufacturing (EOQ).—
Source 1
(20,64)




(36,74)

960. Diffusion index of net profits, manufacturing—about
700 companies (Q).—Dun & Bradstreet, Inc. (Used by
permission. This series may not be reproduced without
written permission from the source.)
(35,75)
961. Diffusion index of average workweek of production
workers, manufacturing—20 industries (M).—Sources 1
and 3
(36,74,77)
962. Diffusion index of initial claims for unemployment
insurance, State programs—51 areas (M).—Source 1
and U.S. Department of Labor, Employment and Training
Administration; seasonal adjustment by Bureau of
Economic Analysis
(36,74)
963. Diffusion index of number of employees on private
nonagricultural payrolls—172 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 industrial materials prices-13
industrial materials (M).-Sources 1 and 3 (37,75,79)

105. Money supply Ml-B in 1972 dollars (M).-Sources 1, 3,
and 4
(31,71)

968. Diffusion index of stock prices, 500 common stocks—
53-82 industries (M).-Standard & Poor's
Corporation
(37,75)

106. Money supply M2 in 1972 dollars (M).-Sources 1, 3,
and 4
(13,31,71)

970. Diffusion index of business expenditures for new plant
and equipment, total—18 industries (Q).—Source
1
(38,76)

73. Index of industrial production, durable manufactures

(M).-Source 4

(M).-Source 1

107. Ratio, gross national product to money supply Ml-B
(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)
113. Net change in consumer installment debt (M).—Source
4
(32,72)
114. Discount rate on new issues of 91-day Treasury bills
(M).-Source 4
(34,72)
115. Yield on long-term Treasury bonds (M).-U.S.
Department of the Treasury
(34,73)
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)

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

(40,80)

217. Per capita gross national product in 1972 dollars (Q).—
Sources 1 and 2
(40,80)
220. National income in current dollars (Q).—Source
1
(45,82)
223. Personal income in current dollars (M). -Source
1
(40,63)
224. Disposable personal income in current dollars (Q).Source 1
(40,80)
225. Disposable personal income in 1972 dollars (Q).Source 1
(40,80)
227. Per capita disposable personal income in 1972 dollars
(Q).-Sources 1 and 2
(40,80)
230. Personal consumption expenditures, total, in current
dollars (Q).-Source 1
(41,80)
231. Personal consumption expenditures, total, in 1972 dollars (Q).-Source 1
(41,80)
232. Personal consumption expenditures, durable goods, in
current dollars (Q).-Source 1
(41,80)
233. Personal consumption expenditures, durable goods, in
1972 dollars (Q).-Source 1
(41,80)
235. Personal consumption expenditures, total, as a percent
of gross national product (Q).-Source 1
(47,83)
236. Personal consumption expenditures, nondurable goods,
in current dollars (Q).-Source 1
(41,81)
237. Personal consumption expenditures, services, in current
dollars (Q).-Source 1
(41,81)
238. Personal consumption expenditures, nondurable goods,
in 1972 dollars (Q).-Source 1
(41,81)
239. Personal consumption expenditures, services, in 1972
dollars (Q).-Source 1
(41,81)
240. Gross private domestic investment, total, in current dollars (Q).-Source 1
(42,81)
241. Gross private domestic investment, total, in 1972 dollars (Q).-Source 1
(42,81)
242. Gross private domestic fixed investment, total, in
current dollars (Q).—Source 1
(42,81)
243. Gross private domestic fixed investment, total, in 1972
dollars (Q).-Source 1
(42,81)
245. Gross private domestic investment, change in business
inventories, all industries, in current dollars (Q).—
Source 1
(42,81)

116



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)

II-A. National Income and Product

(Q).-Source 1

247. Gross private domestic investment, change in business
inventories, all industries, as a percent of gross national
product (Q).-Source 1
(47,83)

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)
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)
268. State and local government purchases of goods and
services as a percent of gross national product (Q).—
Source 1
(47,83)
280. Compensation of employees (Q).-Source 1

(45,82)

282. Proprietors' income with inventory valuation and capital
consumption adjustments (Q).—Source 1
(45,82)

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 or 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)
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)
345. Index of average hourly compensation, all employees,
nonfarm business sector (Q).-Source 3
(49,87)
346. Index of real average hourly compensation, all
employees, nonfarm business sector (Q).—Source
3
(49,88)
348. Negotiated wage and benefit decisions, all industriesfirst year average (mean) changes (Q).-Source
3
(50,88)
349. Negotiated wage and benefit decisions, all industries—
average (mean) changes over life of contract (Q).—
Source 3
(50,88)
358. Index of output per hour, all persons, nonfarm business
sector (Q).-Source 3
(49,88)
370. Index of output per hour, all persons, private business
sector (Q).-Source 3
(49,88)

283. Proprietors' income with inventory valuation and capital
consumption adjustments as a percent of national
income (Q).-Source 1
(47,83)
284. Rental income of persons with capital consumption
adjustment (Q).-Source 1
(45,82)
285. Rental income of persons with capital consumption
adjustment as a percent of national income (Q).—
Source 1
(47,83)
286. Corporate profits with inventory valuation and capital
consumption adjustments (Q).—Source 1
(47,82)
287. Corporate profits with inventory valuation and capital
consumption adjustments as a percent of national
income (Q).-Source 1
(47,83)
288. Net interest (Q).-Source 1
(45,82)

37. Number of persons unemployed, labor force survey
(M).-Sources 2 and 3
(18,51,62,89)
441. Total civilian labor force, labor force survey (M),
Sources 2 and 3
(51,89)

289. Net interest as a percent of national income (Q).—
Source 1
(47,83)
290. Gross saving—private saving plus government surplus or
deficit (Q).-Source 1
(46,82)

442. Total civilian employment, labor force survey (M),—
Sources 2 and 3
(51,89)
444. Number unemployed, males 20 years and over, labor
force survey (M),*-Sources 2 and 3
(51,89)

II-C. Labor Force, Employment, and
Unemployment

TITLES AND SOURCES OF SERIES- Continued
445. Number unemployed, females 20 years and over, labor
force survey (M).-Sources 2 and 3
(51,89)

565. National defense purchases as a percent of gross
national product (Q).-Source 1 (55,91)

47. United States, index of industrial production, total

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
Analysts
(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)
588. Value of manufacturers' shipments, defense products

II-D. Government Activities

(M).-Source 2

(54,91)

II-E. U.S. international Transactions

501. Federal Government receipts; national income and product accounts (Q).-Source 1
(52,90)

602. Exports, excluding military aid shipments, total (M)Source 2
(56,92)

502. Federal Government expenditures; national income and
product accounts (Q).-Source 1
(52,90)

604. Exports of agricultural products (M).-Source 2;
seasonal adjustment by Bureau of Economic
Analysis
(56,92)

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)

606. Exports of nonelectrical machinery (M).—Source 2;
seasonal adjustment by Bureau of Economic
Analysis
(56,92)
612. General imports, total (M).-Source 2

(56,92)

614. Imports of petroleum and petroleum products (M).—
Source 2; seasonal adjustment by Bureau of Economic
Analysis
(56,92)
616. Imports of automobiles and parts (M).—Source 2;
seasonal adjustment by Bureau of Economic
Analysis
(56,92)
618. Merchandise exports, adjusted, excluding military grants

(Q).-Source 1

(57,93)

620. Merchandise imports, adjusted, excluding military
(Q).-Sourqe 1
(57,93)
622. Balance on merchandise trade (Q).—Source 1 (57,93)
651. Income on U.S. investments abroad (Q).—Source
1
(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)

557. Output of defense and space equipment (M).— Source
4
(54,91)

668. Exports of goods and services, excluding transfers under
U.S. military grants (Q).-Source 1
(57,93)

559. Value of manufacturers' inventories, defense products
(EOM).-Source 2
(54,91)

669. Imports of goods and services, total (Q).—Source
1
(57,93)

561. Value of manufacturers' unfilled orders, defense products (EOM).-Source 2
(54,91)

II-F. International Comparisons

564. Federal Government purchases of goods and services for
national defense (Q).-Source 1
(55,91)




(14,20,39,58,63,78,94)

721. 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).-lnstitut
National de la Statistique et des Etudes Economiques
(Paris)
(58,94)
727. Italy, index of industrial production (M).-lnstituto
Centrale di Statistica (Rome)
(58,94)

500. Federal Government surplus or deficit; national income
and product accounts (Q).-Source 1
(52,90)

510. State and local government surplus or deficit; national
income and product accounts (Q).-Source 1 (52,90)

(M).-Source4

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).Mtmstry of Labour (London); percent changes seasonally adjusted by Bureau of Economic Analysis (59,95)
733. Canada, index of consumer prices (M).—Statistics
Canada (Ottawa); percent changes seasonally adjusted
by Bureau of Economic Analysis
(59,96)
735. West Germany, index of consumer prices (M).~Statistisches Bundesamt (Wiesbaden); percent changes
seasonally adjusted by Bureau of Economic Analysis

(59,95)
736. France, index of consumer prices (M).—Institut
National de la Statistique et des Etudes Economiques
(Paris); percent changes seasonally adjusted by Bureau
of Economic Analysis
(59,95)
737. Italy, index of consumer prices (M).-Institute Centrale
di Statistica (Rome); percent changes seasonally
adjusted by Bureau of Economic Analysis
(59,96)
738. Japan, index of consumer prices (M).—Office of the
Prime Minister (Tokyo); percent changes seasonally
adjusted by Bureau of Economic Analysis
(59,95)
742. United Kingdom, index of stock prices (M).—The
Financial Times (London)
(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 prices (M).-Tokyo Stock
Exchange (Tokyo)
(59,96)

Superintendent of Documents
U.S. Government Printing Office
Washington. D.C. 20402
OFFICIAL BUSINESS
Penalty for Private Use $300




FIRST-CLASS MAIL
POSTAGE & FtfS PAID
USDC
WASHINGTON, O.C.
PERMIT No. G-56


Federal Reserve Bank of St. Louis, One Federal Reserve Bank Plaza, St. Louis, MO 63102