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BUSINESS
ONDITIONS
DIGEST
NOVEMBER 1983







U.S. DEPARTMENT OF COMMERCE
Malcolm Baldrige, Secretary
BUREAU OF ECONOMIC ANALYSIS
George Jaszi, Director
Allan H. Young, Deputy Director
Charles A. Waite, Associate Director for
National Analysis and Projections
Feliks Tamm, Editor

This report is prepared in the Statistical Indicators Division of the Bureau of Economic
Analysis. Technical staff and their responsibilities for the publication are—
Barry A. Beckman—Technical supervision and review
Brian D. Kajutti—Composite indexes
Betty F. Tunstall—Data collection and compilation (Phone: 202-523-0541)
The cooperation of government and private agencies that provide data is gratefully
acknowledged. Agencies furnishing data are indicated in the list of series titles and sources
at the back of this report.
This publication is prepared under the general guidance of a technical committee consisting
of the following persons:
Ronald E. Kutscher, Acting Chairman, Bureau of Labor Statistics, U.S. Department of
Labor
John H. Auten, U.S. Department of the Treasury
Norman Frumkin, Office of Management and Budget
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: $5.50 domestic, $6.90 foreign. Foreign airmail rates are
available on request. Address correspondence

Most of the data contained in this report
also are published by their source agencies. A
series finding guide and a complete 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 laggers based on their general conformity to cyclical movements in aggregate
economic activity. In this report, cyclical indicators are classified both by economic process
and by their average timing at business cycle
peaks, at business cycle troughs, and at peaks
and troughs combined. These indicators have
been selected primarily on the basis of their
cyclical behavior, but they also have proven
useful in forecasting, measuring, and interpreting short-term fluctuations in aggregate
economic activity.
Other Economic Measures provide additional information for the evaluation of current business
conditions and prospects. They include selected
components of the national income and product
accounts; measures of prices, wages, and
productivity; measures of the labor force,
employment, and unemployment; economic
data on Federal, State, and local government activities; measures of U.S. international transactions; and selected economic comparisons with
major foreign countries.
concerning subscriptions to Superintendent of
Documents, U.S. Government Printing Office,
Washington, D.C. 20402. Make checks payable
to Superintendent of Documents.

BUSINESS CONDITIONS DIGEST

New Features and Changes for This Issue

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

BCII
NOVEMBER 1 9 8 3
Data Through October
Volume 23, Number 11

PART I.
CYCLICAL INDICATORS

Al
A2
A3
A4

COMPOSITE INDEXES AND
THEIR COMPONENTS
Composite Indexes
Leading Index Components
Coincident Index Components
Lagging Index Components

Chart
10
12
14
15

Table
60
—
—
—

Bl
B2
B3
B4
B5
B6
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

16
19
21
23
26
28
31

61
63
64
65
68
69
71

Cl
C2
C3

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

36
—
39

74
77
—

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



for printing this periodical has been approved
by the Director of the Office of Management
and Budget through April 1, 1985.




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

Chart
40
41
42
43
44
45
46
47

Table
80
80
81
81
82
82
82
83

48
49

84
87

Civilian Labor Force and Major Components

51

89

LD2J

GOVERNMENT ACTIVITIES
Receipts and Expenditures
Defense Indicators

52
53

90
90

! E2

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

56
57

92
93

j_E2 !
L.F3.J

INTERNATIONAL COMPARISONS
Industrial Production
Consumer Prices
Stock Prices

58
59
59

94
95
96

LA2_|
LA3 J

L.A4_j
!_A6_
LA7

| B2~

PRICES. WAGES,
AND PRODUCTIVITY
Price Movements
Wages and Productivity

LABOR FORCE, EMPLOYMENT,
AND UNEMPLOYMENT

MM

PART III. APPENDIXES
A. MCD and Related Measures of Variability (January 1981 issue)
QCD and Related Measures of Variability (January 1981 issue)
B. Current Adjustment Factors (October 1983 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 (July 1983 issue)
F. Specific Peak and Trough Dates for Selected Indicators (June 1983 issue)
G. Experimental Data and Analyses
Alphabetical Index—Series Finding Guide
Tities and Sources of Series

97

105
110
114

Readers are invited to submit comments and
suggestions concerning this publication.
Address them to Feliks Tamm, Chief, Statistical
Indicators Division, Bureau of Economic Analysis,
U.S. Department of Commerce, Washington, D.C. 20230

NEW FEATURES
AND CHANGES
FOR THIS ISSUE

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 39,
62, 95, 108, 243, 245, 247-253, 255-257, 260-263, 265-268,
280, 282-290, 292, 293, 295, 298, 564, 565, and 728.
2. Appendix G contains cyclical comparisons for series
12, 19, 41, 45, 76, and 915.
The December issue of BUSINESS CONDITIONS DIGEST is scheduled
for release on January 4.



HI

SIX BEA PROJECTS
FOR ECONOMIC
ANALYSIS

BUSINESS CONDITIONS DIGEST A monthly report for analyzing
economic fluctuations over a short span of years.
This report brings together many of the economic time series most useful to business analysts and
forecasters. In the cyclical indicators section, each of about 110 business cycle indicators is assigned
a three-way timing classification according to its cyclical behavior at peaks, troughs, and all turns.
This section also includes important analytical measures, such as composite indexes of leading, coincident, and lagging indicators and selected diffusion indexes. A second section contains other important economic data on prices, wages, productivity, government and defense-related activities, U.S. international transactions, and international comparisons.
About 300 time series are shown in analytical graphs that help to evaluate business conditions and
prospects. Current data are shown in accompanying tables. Appendixes provide historical data,
seasonal adjustment factors, measures of variability, cyclical comparisons, and other useful information. A computer tape containing data for most of the series is available for purchase.

HANDBOOK OF CYCLICAL INDICATORS A reference volume containing valuable background information for users of Business Conditions Digest.
This recurrent report provides descriptive and analytical information on the economic time series
presented monthly in Business Conditions Digest. Included are series descriptions, historical
data, and measures of variability. For the cyclical indicators and composite indexes, special tables
show detailed scoring measures and average timing at cyclical peaks and troughs. Verbal and
algebraic explanations of the composite index methodology are also provided.

LONG TERM ECONOMIC GROWTH A report for the study of economic
trends over a long span of years: 1860-1970.
This report provides a comprehensive, long-range view of the U.S. economy by presenting relevant
statistical time series in easy-to-follow analytical charts and convenient data tables. It is a basic
research document for economists, historians, investors, teachers, and students, bringing together in
one volume a complete statistical basis for the study of long-term economic trends. A computer tape
file of the time series included in the report is available for purchase.

COMPUTER PROGRAMS FOR TIME SERIES ANALYSIS

The source

statements for FORTRAN IV programs used by BEA in its analysis of
time series are available on a single computer tape.
SEASONAL A D J U S T M E N T PROGRAMS—Two variants of the Census computer program
measure and analyze seasonal, trading-day, cyclical, and irregular fluctuations. They are particularly
useful in analyzing economic fluctuations that take place within a year. The X - l l variant is used for
adjusting monthly data and the X-11Q for quarterly data. These programs make additive as well as
multiplicative adjustments and compute many summary and analytical measures.
INDEX PROGRAM—This program computes composite and diffusion indexes and summary
measures of the properties of each index.
TIME SERIES PROCESSOR—This program, through simple commands, performs a variety of
arithmetic, statistical, and manipulative operations on time series data.

SURVEY OF CURRENT BUSINESS

A monthly report for analyzing

current economic developments.
This report provides a useful combination of current data for nearly 2,000 statistical series and
significant articles analyzing economic developments. These data and analyses include such areas as
the national income and product accounts, the balance of payments accounts, plant and equipment
expenditures, regional personal income, and the input-output accounts.

For further information (including prices and ordering instructions) on any of these items,
please write to the Bureau of Economic Analysis,
U.S. Department of Commerce, Washington, D.C.
20230.




BUSINESS STATISTICS A biennial reference volume containing
statistical series reported currently in the Survey of Current Business.
This report provides historical data back to 1947 for nearly 2,600 time series. The series are accompanied by concise descriptions as to their composition, methods of compilation, comparability, revisions, and availability. Also listed are the names and addresses of organizations that provide the basic
data for the series.
IV

METHOD OF PRESENTATION
This report is organized into two major parts.
Part I, Cyclical Indicators, includes about 150 time
series which have been found to conform well to
broad fluctuations in comprehensive measures of
economic activity. Nearly three-fourths of these are
individual indicators, the rest are related analytical
measures: Composite indexes, diffusion indexes,
and rates of change. Part II, Other Important
Economic Measures, covers over 140 series which
are valuable to business analysts and forecasters
but which do not conform well enough to business
cycles to qualify as cyclical indicators. (There are a
few exceptions: Four series which are included in
part I are also shown in part II to complete the
systematic presentation of certain sets of data,
such as real GNP and unemployment.) The largest
section of part II consists of quarterly series from
the national income and product accounts; other
sections relate to prices, labor force, government
and defense-related activities, and international
transactions and comparisons.
The two parts are further divided into sections
(see table of contents), and each of these sections
is described briefly in this introduction. Data are
shown both in charts and in tables. Most charts
begin with 1956, but those for the composite
indexes and their components (part I, section A)
begin with 1948, and a few charts use a two-panel
format which covers only the period since 1971.
Except for section F in part II, charts contain
shading which indicates periods of recession in
general business activity. The tables contain data
for only the last few years. The historical data for
the various time series are contained in the 1977

Handbook of Cyclical Indicators.
In addition to the charts and tables described
above, each issue contains a summary table which
shows the current behavior of many of the series.
Appendixes present seasonal adjustment factors,
measures of variability, specific cycle turning
dates, cyclical comparison charts, and other
information of analytical interest. An index appears
at the back of each issue. It should be noted that
the series numbers used are for identification
purposes only and do not reflect precise
relationships or order. However, all series
considered as cyclical indicators are numbered in
the range 1 to 199.

Seasonal Adjustments
Adjustments for average seasonal fluctuations
are often necessary to bring out the underlying
trends of time series. Such adjustments allow for
the effects of repetitive intrayear variations
resulting primarily from normal differences in
weather conditions and from various institutional
arrangements. Variations attributable to holidays
are usually accounted for by the seasonal
adjustment process; however, a separate holiday



adjustment is occasionally required for holidays
with variable dates, such as Easter. An additional
adjustment is sometimes necessary for series
which contain considerable variation due to the
number of working or trading days in each month.
As used in this report, the term "seasonal
adjustment" includes trading-day and holiday
adjustments where they have been made.
Most of the series in this report are presented in
seasonally adjusted form and, in most cases, these
are the official figures released by the source
agencies. However, for the special purposes of this
report, a number of series not ordinarily published
in seasonally adjusted form are shown here on a
seasonally adjusted basis.

MCD Moving Averages
Month-to-month changes in a series are often
dominated by erratic movements. MCD (months for
cyclical dominance) is an estimate of the appropriate span over which to observe cyclical
movements in a monthly series. (See appendix A.)
It is the smallest span of months for which the
average change in the cyclical factor is greater than
that in the irregular factor. The more erratic a
series is, the larger the MCD will be; thus, MCD is 1
for the smoothest series and 6 for the most erratic.
MCD moving averages (that is, moving averages of
the period equal to MCD) tend to have about the
same degree of smoothness for all series. Thus, a
5-term moving average of a series with an MCD of 5
will show its cyclical movements about as clearly
as the seasonally adjusted data for a series with an
MCD of 1.
The charts in this report generally include
centered MCD moving averages for those series
with an MCD greater than 4. The seasonally
adjusted data are also plotted to indicate their
variation about the moving averages and to provide
observations for the most recent months.

Reference Turning Dates
The historical business cycle turning dates used
in this report are those designated by the National
Bureau of Economic Research, Inc. (NBER). They
mark the approximate dates when, according to
NBER, aggregate economic activity reached its
cyclical high or low levels. As a matter of general
practice, neither new reference turning dates nor
the shading for recessions will be entered on the
charts until after both the new reference peak and
the new reference trough bounding the shaded area
have been designated.
The historical reference turning dates are subject
to occasional reviews by NBER and may be changed
as a result of revisions in important economic
time series. The dates shown in this publication
for the 1948-70 time period are those determined
by a 1974 review. Since then, NBER has designated
turning points for recessions in 1973-75, 1980. and
1981-82.

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

Section A. Composite Indexes and
Their Components
All cyclical indicators have been evaluated according to six major characteristics: Economic
significance, statistical adequacy, consistency of
timing at business cycle peaks and troughs,
conformity to business expansions and
contractions, smoothness, and prompt availability
(currency). A formal, detailed weighting scheme
was developed and used to assess each series by all
of the above criteria. (See articles in the May and
November 1975 issues of BCD.)
The resulting
scores relate to cyclical behavior of the series
during the period 1947-70. This analysis produced
a new list of indicators classified by economic
process and typical timing at business cycle peaks
and troughs. (See tables on page 2 and text below
relating to section B.)
This information, particularly the scores relating
to consistency of timing, served as a basis for the
selection of series to be included in the composite
indexes. The indexes incorporate the best-scoring
series from many different economic-process
groups and combine those with similar timing
behavior, using their overall performance scores as
weights. Because they use series of historically
tested usefulness and given timing characteristics
(for example, leading at both peaks and troughs),
with diversified economic coverage and a minimum
of duplication, composite indexes give more
reliable signals over time than do any of the
individual indicators. Furthermore, much of the

1

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

Economic
\Process

Cyclical
Timing

\
N.

LEADING fl_)
IN DICATORS
(62 series}

I.
EMPLOYMENT
AND
UNEMPLOYMENT
(18 series)

11.
PRODUCTION
AND
INCOME
(10 series)

III.
CONSUMPTION,
TRADE,
ORDERS, AND
DELIVERIES
(13 series)

IV.
FIXED
CAPITAL
INVESTMENT
(18 series)

V.
INVENTORIES
AND
INVENTORY
INVESTMENT
(9 series)

VI.
PRICES,COSTS,
AND PROFITS
(17 series)

VII.
MONEY
AND CREDIT
(26 series)

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

Capacity
utilization
(2 series)

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

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

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

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

Money flows
(3 series)
Real money
supply
(2 series)
Credit flows
(4 series)
Credit
difficulties
(2 series)
Bank reserves
(2 series)
1 nfovDcf *-atfic
inicrCSX
idles

(1 series)

ROUGHLY
COINCIDENT(C)
INDICATORS
(2 3 series)

LAGGING (Lg)
INDICATORS
(18 series)

TIMING
UNCLASSIFIED
(U)
(8 series)

Comprehensive
employment
(1 series)

Comprehensive
output and
real income
(4 series)
industrial
production
(4 series)

Consumption
and trade
(4 series)

Duration of
unemployment
(2 series)

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

Comprehensive
employment
(3 series)

Trade
(1 series)

Business
investment
commitments
(1 series)

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

Inventories on
hand and on
order
(4 series)

Unit labor costs
and labor share
(4 series)

1 nterest rates
(4 series)
Outstanding
debt
(3 series)

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

Interest rates
(1 series)

B. Timing at Business Cycle Troughs
>v

Economic
\Process

Cyclical N.
Timing
N.

LEADING (L)
INDICATORS
(47 series)

ROUGHLY
COINCIDENT(C)
INDICATORS
(23 series)

LAGGING (Lg)
INDICATORS
(40 series)

TIMING
UNCLASSIFIED
(U)
(1 series)




1.
EMPLOYMENT
AND
UNEMPLOYMENT
(18 series)

II.
PRODUCTION
AND
INCOME
(10 series)

III.
CONSUMPTION,
TRADE,
ORDERS, AND
DELIVERIES
(13 series)

IV.
FIXED
CAPITAL
INVESTMENT
(18 series)

V.
INVENTORIES
AND
INVENTORY
INVESTMENT
(9 series)

VI.
PRICES, COSTS,
AND PROFITS
(17 series)

VII.
MONEY
AND CREDIT
(26 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)

Inventory
investment
(4 series)

Stock prices
(1 series)
Commodity
prices
(2 series)
Profits and
profit margins
(6 series)
Cash flows
(2 series)

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

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)

Business
investment
commitments
(1 series)

Profits
(2 series)

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

Unfilled orders
(1 series)

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

Unit labor costs
and labor share
(4 series)

Velocity of
money
(1 series)
Bank reserves
(1 series)
Interest rates
(8 series)
Outstanding debt
(3 series)

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

Inventories on
hand and on
order
(5 series)

Bank reserves
(1 series)

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

Handbook of Cyclical Indicators.)
In addition to these principal composite indexes,
differentiated according to cyclical timing, there
are five indexes based on leading indicators which
have been grouped by economic process. Taken
together, these additional indexes include all 12
component series of the overall leading index, plus
a few related series. Also shown in this section is
the ratio of the index of roughly coincident




indicators to the index of lagging indicators, a
series known to have a useful pattern of early
cyclical timing. Numbers entered on the charts of
the composite indexes show the length, in months,
of leads (-) and lags ( + ) at each of the reference
turning dates covered.
The next set of data consists of series included
in the principal composite indexes. These are the
12 components of the leading index, the 4
components of the coincident index, and the 6
components of the lagging index. Following the title
of each series, its typical timing is identified by
three letter symbols in a small box. The first of
these letters refers to the timing of the given
indicator at business cycle peaks, the second to its
timing at business cycle troughs, and the third to
its timing at all turns, i.e., at peaks and troughs
combined. " L " denotes a tendency to lead, "C" a
tendency to roughly coincide with the business
cycle turns (as represented by the NBERdesignated reference dates), and "Lg" a tendency
to lag. Since these series have been selected for the
consistency of their timing at both peaks and
troughs, all components of the leading index are
denoted "L,L,L," all components of the coincident
index "C,C,C," and all components of the lagging
index "Lg,Lg,Lg." It should be remembered that
these classifications are based on limited evidence,
namely the performance of the indicators during
the business cycles of the 1948-70 period, which
included five peaks and five troughs. While the
timing classifications are expected to agree with
the patterns prevailing in the near future, they will
not necessarily hold invariably in every instance.
The timing of the series in the period since 1970
can be determined by inspection of the charts,
where the recessions of 1973-75, 1980, and
1981-82 are shaded according to the dates of
the NBER reference cycle chronology.

Section B. Cyclical Indicators by Economic Process
This section covers 111 individual time series,
including the 22 indicators used in the
construction of the composite indexes. The peak
and trough timing classifications are shown on the
charts in the same manner as described above, but
this section includes series with different timing at
peaks and at troughs, as well as series where the
timing is not sufficiently consistent to be classified
as either L,C, or Lg according to the probabilistic
measures and scoring criteria adopted. Such series
are labeled U, i.e., unclassified as to timing at
turning points of the given type. Eight series are
unclassified at peaks, one series at troughs, and 19
series at all turns (of the 19, 15 have definite but
different timing at peaks and at troughs). No series
that is classified as U both at peaks and at troughs
is included in the list of cyclical indicators.
The classification scheme which groups the
indicators of this section by economic process and
cyclical timing is summarized in the two
tabulations on page 2. Cross-classification A is
based on the observed behavior of the series at five
business cycle peaks (November '48, July '53,

August '57, April '60, and December '69); crossclassification B, on their behavior at five business
cycle troughs (October '49, May '54, April '58,
February '61, and November 70). Each tabulation
distinguishes seven major economic processes and
four types of cyclical timing. The titles in the cells
identify subgroups of the given economic process
with the given timing characteristic. The number of
series in each such group is given in parentheses
following the title. Complete information on how
individual indicators are classified by timing at
peaks, troughs, and all turns, along with selected
measures and scores, is provided in the 1977

Handbook of Cyclical Indicators.

Section C. Diffusion Indexes and Rates of Change
Many series in this report are aggregates
compiled from numerous components. How the
individual components of an aggregate move over a
given timespan is summarized by a diffusion index
which indicates the percentage of components that
are rising (with half of the unchanged components
considered rising). Cyclical changes in these
diffusion indexes tend to lead those of the
corresponding aggregates. Since diffusion indexes
are highly erratic, they are computed from changes
measured over 6- or 9-month (or 3- or 4-quarter)
spans, as well as 1-month (or 1-quarter) spans.
Longer spans help to highlight the trends underlying the shorter-term fluctuations. Diffusion indexes
are shown for the component series included in
each of the three composite indexes and for the
components of some of the aggregate series shown
in section B.
Diffusion measures can be derived not only from
actual data but also from surveys of anticipations
or intentions. Indexes based on responses of
business executives about their plans and
expectations for several operating variables are
presented, along with the corresponding indexes
based on actual data, as the last set of diffusion
series.
This section also records rates of change for the
three composite indexes (leading, coincident, and
lagging) and for four indicators of aggregate
economic activity: GNP in constant dollars
(quarterly), industrial production, employee hours
in nonagricultural establishments, and personal
income less transfers in constant dollars. Rates of
change are shown for 1- and 3-month spans or for
1-quarter spans.
Although movements in diffusion indexes and in
rates of change for the same aggregates are
generally positively correlated, these two measures
present information about two related but distinct
aspects of economic change. Diffusion indexes
measure the prevailing direction or scope of
change, while rates of change measure the degree
as well as the overall direction. As is the case for
diffusion indexes, cyclical movements in the rates
of change tend to lead those of the corresponding
indexes or aggregates, and thus, they tend to lead
at the business cycle turns as well.

Part II. OTHER IMPORTANT ECONOMIC
MEASURES
This part is divided into six sections which cover
a wide range of quarterly and monthly time series
measuring various aspects of economic activity.
Some of these series are very comprehensive,
pertaining to the U.S. economy as a whole, others
have to do with particular sectors or markets, and
still others relate to U.S. international transactions
or to selected foreign countries. The represented
variables include incomes, outputs, and
expenditures; prices, earnings, and productivity;
labor resources; government receipts,
expenditures, and defense-related activities; exports and imports; and selected indicators for a few
key foreign countries.

Section A. National Income and Product
The national income and product accounts,
compiled by BEA, summarize both receipts and
final expenditures for the personal, business,
foreign, and government sectors of the economy.
Section Al shows the gross national product,
final sales, and personal and disposable personal
income. The four major components of the gross
national product—personal consumption
expenditures, gross private domestic investment,
government purchases of goods and services, and
net exports of goods and services-are presented in
sections A2 through A5. Most of the series in
section A are presented in current as well as
constant dollars. There are also a few per capita
series. The national income and product accounts,
briefly defined below, are described more fully in

the Survey of Current Business, Part I,
January 1976.
Gross national product (GNP) is the market
value of final goods and services produced by the
labor and property supplied by residents of the
United States, before deduction of allowances for
the consumption of fixed capital goods. It is the
most comprehensive measure of aggregate
economic output. Final sales is GNP less change in
business inventories.
Personal income is the income received by
persons (individuals, owners of unincorporated
businesses, nonprofit institutions, private trust
funds, and private noninsured welfare funds) from
all sources. It is the sum of wage and salary
disbursements, other labor income, proprietors'
income, rental income of persons, dividends,
personal interest income, and transfer payments,
less personal contributions for social insurance.

Disposable personal income is the personal
income available for spending or saving. It consists
of personal income less personal taxes and nontax
payments to government.

Personal consumption expenditures (A2) is
goods and services purchased by individuals,
operating expenses of nonprofit institutions, and
the value of food, fuel, clothing, rent of dwellings,
and financial services received in kind by individuals. Net purchases of used goods are also included.

4




Gross private domestic investment (A3) is fixed
capital goods purchased by private business and
nonprofit institutions and the value of the change
in the physical volume of inventories held by
private business. The former include ail private
purchases of dwellings, whether purchased for
tenant or owner occupancy. Net purchases of used
goods are also included.

Government purchases of goods and services
(A4) is the compensation of government employees
and purchases from business and from abroad. It
excludes transfer payments, interest paid by
government, and subsidies. It includes gross
investment by government enterprises but excludes
their current outlays. It includes net purchases of
used goods and excludes sales and purchases of
land and financial assets.

Net exports of goods and services (A5) is exports
less imports of goods and services. Exports are part
of the national production; imports are not, but are
included in the components of GNP and are
therefore deducted. More detail on U.S.
international transactions is provided in section E.
National income (A6) is the incomes that
originate in the production of goods and services
attributable to labor and property supplied by
residents of the United States. Thus, it measures
the factor costs of the goods and services produced. It consists of the compensation of
employees, proprietors' income, rental income of
persons, corporate profits, and net interest.
Saving (A7) is the difference between income
and expenditures during an accounting period.
Total gross saving includes personal saving,
business saving (mainly undistributed corporate
profits and capital consumption allowances), and
government surplus or deficit.

Shares of GNP and national income (A8).—The
major expenditure components of GNP
(consumption, investment, etc.) are expressed as
percentages of GNP, and the major income
components of national income (compensation of
employees, corporate profits, etc.) are expressed as
percentages of national income.

Section B. Prices, Wages, and Productivity
The important data on price movements include
the monthly consumer and producer price indexes
and their major components. Based largely on
these series are the quarterly price indexes from
the national income and product accounts, notably
the GNP implicit price deflator (with weights
reflecting the changing proportions of different
expenditure categories in GNP) and the fixedweighted price index for the gross business product. Data on both levels and percent changes are
presented for the period since 1971.
The group of series on wages and productivity
consists of data on average hourly earnings and
average hourly compensation (including earnings
and other benefits) in current and constant dollars,
output per hour of work in the business sector, and
rates of change for most of these measures.

Section C. Labor Force, Employment, and
Unemployment
This section contains measures of the civilian
labor force and its major components: Total
numbers of employed and unemployed persons.
The number of unemployed is subdivided into
selected categories defined by sex, age, and class
of worker. Also included are data on participation
rates for a few principal segments of the labor
force.

Section D. Government Activities
Receipts, expenditures, and their balance (surplus or deficit) are shown quarterly on two levels:
(1) Federal Government and (2) State and local
government. Also shown is a selection of series
from the discontinued Defense
Indicators,
These series measure defense activities which
influence short-term changes in the national
economy. Included are series relating to
obligations, contracts, orders, production,
shipments, inventories, outlays, and employment.
These series are grouped according to the time at
which the activities they measure occur in the
defense order-production-delivery process. Series
measuring activities which usually precede production, such as contract awards and new orders,
are classified as "advance measures of defense
activity." Series measuring activities which tend to
coincide with production, such as employment, and
activities which usually follow production, such as
shipments, are classified as "intermediate and final
measures of defense activity."

Section E. U.S. International Transactions
This group includes monthly series on exports
(excluding military aid) and general imports, plus a
few selected components of these aggregates. Also
shown are the balances between receipts and
expenditures for goods and services, merchandise,
and investment income.

Section F. International Comparisons
This section is designed to facilitate a quick
review of basic economic conditions in six of the
nations with which we have important trade
relationships. The U.S. business cycle shading has
been omitted from these charts. Data on industrial
production, consumer prices, and stock prices for
Canada, the United Kingdom, France, West Germany, Japan, and Italy are compared with the corresponding U.S. series. Also included is an industrial production index for the European
countries in the Organization for Economic
Cooperation and Development (OECD). The industrial production series provide cyclically sensitive output measures for large parts of the
economies covered. Changes in consumer price indexes (plotted for the period since 1971) provide
important measures of the rates of inflation in the
major industrialized countries. Stock prices (also
shown beginning in 1971) tend to be significant as
leading indicators.

HOW TO READ CHARTS
Basic Data

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

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. ( " I V " = 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.

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.

Dotted line indicates anticipated quarterly data over
various spans.

Diffusion indexes and rates
of change are centered within
the spans they cover.

Broken line indicates percent
changes 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.

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

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

Rates of Change
Arabic number indicates latest
month used in computing
the changes.

^f\jLrS'n^Y^'^:'"A ty']-

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

Broken line with plotting
points
indicates
percent
changes over 1-quarter spans.
Roman
number
indicates
latest quarter used in computing the changes.

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


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
Unit
of
measure

Series title and timing classification1

Annual average
2d Q

1st Q
1983

1983

3dQ
1983

Aug.
1983

Sept.
1983

Oct.
1983

Aug.
to
Sept.
1983

Sept.
to

1st Q
to

2d Q

Oct.
1983

2dQ
1983

3dQ
1983

I. CYCLICAL INDICATORS
A. C o m p o s i t e Indexes
910.
920.
930.
940.

Twelve leading indicators
Four roughly coincident indicators
Six lagging indicators
Ratio, coincident index to lagging index

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

L,L,L... .967 = 100...
C,C,C...
do
do
Lg.Lg.Lg....
L.L.I
do
L,L,I
L,L,I
L.L.I
L.L.L....
L.L.L...

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

...do...

140.9
146.0
122.4
119.3

136.8
136.3
123.0
110.9

147.8
134.1
115.1
116.6

154.8
137.8
111.3
123.9

159.2
141.5
110.1
128.5

158.9
140.6
110.6
127.1

160.5
143.0
109.9
130.1

161.8
144.5
109.6
131.8

1.0
1.7
-0.6
2.4

0.8
1.0
-0.3
1.3

4.7
2.8
-3.3
6.3

2.8
2.7
-1.1
3.7

93.0
107.7
100.9
97.9
122.7

NA
104.3
97.2
93.7
122.8

NA
106.8
99.5
98.9
129.4

NA
109.2
102.1
104.3
130.8

NA
109.4
104.1
NA
132.3

NA
108.9
104.5
107.2
132.9

NA
109.9
104.7
NA
130.9

NA
111.4
105.0
NA
NA

NA
0.9
0.2
NA
-1.5

NA
1.4
0.3
NA
NA

NA
2.2
2.6
5.5
1.1

NA
0.2
2.0
NA
1.1

39.8
2.8
446

38.9
2.3
578

39.5
2.5
488

40.1
2.8
443

40.4
3.1
392

40.3
3.1
408

40.8
3.3
387

40.6
3.3
398

1.2
0.2
5.1

-0.5
0.
-2.

1.5
0.3
9.2

0.7
0.3
11.5

0.429
119

0.243
86

0.216
83

0.230

0.276

0.270
97

0.277

0.334

0.057
14.4

0.014
4.8

0.046
12.6

170.02
97,030
91,156
25,497

165.84
96,125
89,596
23,907

164.58
95,697
88,815
23,088

166.81
96,514
89,452
23,341

168.46
98,162
90,213
23,832

167.31
98,074
89,735
23,830

169.99
98,655
90,753
23,943

170.28
98,726
91,073
24,167

1.6
0.6
1.1
0.5

58.28

57.06

56.40

56.73

57.51

57.49

57.66

57.59

0.17

-0.07

0.33

0.78

8,273 10,678 11,439 11,222 10,571 10,699 10,423
9.4
9.5
10.4
9.3
7.6
10.1
9.7
3.4
3.4
4.5
3.3
3.4
4.1
4.6
19.9
19.2
20.6
20.2
13.7
20.5
15.6
3.6
3.6
3.4
4.2
4.0
2.1
3.2

9,886
8.8
3.3
20.1
3.2

2.6
0.2
0.1
-1.5
0.2

5.2
0.5
0.
0.5
0.

1.9
0.3
0.4
-6.
0.

5.8
0.7
0.7
-0.5
0.4

1513.8 1485.4 1490.1 1525.1 1553.6
1254.2 1256.1 1265.2 1277.2 1288.6 1285.1 1294.1 1303.2
1080.5 1073.8 1075.5 1086.4 1100.8 1097.6 1107.2 1116.9

0.7
0.9

0.
0.9

2
0.9
1.0

1.
0.9
1. 3

B. Cyclical Indicators b y E c o n o m i c Process
B l . Employment and Unemployment
Marginal Employment Adjustments:
* 1 . Average workweek, prod, workers, mfg
21. Avg. weekly overtime, prod, workers, mfg.3
*5. Avg. weekly initial claims (inverted4)
Job Vacancies:
60. Ratio, help-wanted advertising to unemployment3
46. Help-wanted advertising
Comprehensive Employment:
48. Employee-hours in nonagri. establishments
42. Persons engaged in nonagri. activities
*41. Employees on nonagri. payrolls
40. Employees in mining, mfg., construction
90. Ratio, civilian employment to total population
of working age3
Comprehensive Unemployment:
37. Total unemployed (inverted4)
43. Unemployment rate, total (inverted4)3
45. Avg. weekly insured unemployment rate (inv.4)3
*91. Avg. duration of unemployment (inverted4)
44. Unemployment rate, 15 weeks and over (inv.4)3

L,L,L.... Hours
L,C,L...
do
L.C.I "housands...
L,Lg,U.... Ratio
L,Lg,U.... 1967 = 100...
U,C,C
U,C,C
C,C,C
L.C.U

A.r., bil. hrs...
Thousands
do
do

U,Lg,U.... 'ercent
L,Lg,U....
L.Lg.U.
L,Lg,U....
Lg,Lg,Lg....
Lg.Lg.Lg....

ThousandsPercent
do....
Weeks
Percent

0.

1.0
1.7
0.9
2. 1

B2. Production and Income
Comprehensive Output and Income:
50. GNPin 1972 dollars
52. Personal income in 1972 dollars
*51. Pers. income less transfer pay., 1972 dollars
53. Wages and salaries in mining, mfg., and
construction, 1972 dollars

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

do

Industrial Production:
*47. Industrial production, total
73. Industrial production, durable mfrs
74. Industrial production,.nondurable mfrs
49. Value of goods output, 1972 dollars

C.C.C... 1967 = 100
do
C.C.C.
do....
C.L.L..
C.C.C.. A.r., bil. dol

Capacity Utilization:
•83. Capacity utilization rate, mfg., BEA3
82. Capacity utilization rate, mfg., FRB3
84. Capacity utilization rate, materials, FRB3

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

Percent
...do..

229.8

216.2

212.5

216.0

220.0

219.7

221.1

221.8

0.6

0.3

1.6

1.9

151.0
140.5
164.8
692.6

138.6
124.7
156.2
661.6

138.5
124.2
159.0
656.9

144.5
131.1
165.5
681.8

151.7
139.0
172.3
700.7

151.7
138.7
172.5

153.6
141.6
173.9

154.8
143.5
174.6

1.3
2.1
0.8

0.8
1.3
0.4

4. 3
5.6
4.1
3

5.0
6.0

76
79.4
80.7

70
71.1
70.0

70
70.7
70.1

73
73.8
73.5

NA
77.3
77.4

4.1
2.8

3.1

NA
3.5
3.9

B3. C o n s u m p t i o n , Trade, Orders, a n d Deliveries
Orders and Deliveries:
6. New orders, durable goods
7. New orders, durable goods, 1972 dollars
•8. New orders, cons, goods and mtls., 1972 dol
25. Change in unfilled orders, durable goods3
96. Mfrs.' unfilled orders, durable goods5
*32. Vendor performance3 ©

89.74
83.68 75.03
79.92 86.15
L.L.L... Bil. dol
do
37.61
L.L.L..
32.48 34.06
36.40 3 7 . 6 2
do
33.28
31.65
L.L.L...
29.45
33.38 3 5 . 3 7
do
2.22
-0.15 -1.80
1.55
L.L.L...
2.99
L,Lg,U... Bil. dol., EOP ... 313.34 291.76 296.41 305.37 3 1 2 . 0 5
45
44
58
L.L.L... Percent
52
37

Consumption and Trade:
56. Manufacturing and trade sales
*57. Manufacturing and trade sales, 1972 dollars
75. Industrial production, consumer goods
54. Sales of retail stores
59. Sales of retail stores, 1972 dollars
55. Personal consumption expenditures, automobiles
58. Index of consumer sentiment ©

C.C.C...
C.C.C...
C.L.C...
C.L.U...
U.L.U...
L.C.C..
L.L.L...

89.98 91.00
93.73
37.68
39.30
38.15
35.98
35.27 35.33
2.06
2.02
310.02 312.05 317.70
64
61
60

1.1
1.2
-2.0
-0.04
0.7
-1

3.0
3.0
0.2
3.63
1.8

7.8
6.9
5.5
1.44
3.0
8

4.
3.4
6.0
-0.7
2.
6

NA
355.99 34 4.11 344.94 362.86 3 7 5 . 6 3 374.43 380.03
NA
159.85 152.07 153.46 160.04 1 6 3 . 3 9 163.11 164.31
158.2
156.2 156.1 157.8
143.8 150.2
147.9
142.6
97.68 98.81 97.80 99.11 100.18
87.30 89.64 92.24
47.94 47.43 47.95 48.32
45.27 44.68
45.55 47.80
A.r., bil. dol
91.4
94.3
69.3
80.7
73.9
I Q 1966-100
90.9
89.9
89.3
91.6
91.5
70.7
75.3
68.0

1.5
0.
1.1
1. 3

NA
NA
0.3
1.1
0.8

5.2
4.3
4.5
5.9
4.9
13.
21.5

3.
2.
4.
1.
0.
3,
0. 1

Bil. dol..

1967 = 100..
Bil. dol

1.1
-1.1

-0.7

B 4 . Fixed C a p i t a l I n v e s t m e n t
Formation of Business Enterprises:
*12. Net business formation
13. New business incorporations
Business Investment Commitments:
10. Contracts and orders, plant and equipment
*20. Contracts and orders, plant and equipment,
1972 dollars
24. New orders, capital goods indus., nondefense
27. New orders, capital goods industries,
nondefense, 1972 dollars




. L.L.L... 1967 = 100..
. L.L.L.... Number
. L.L.L. Bil. dol..
L.L.L..
L.L.L..
L.L.L.

do...
do...

112.5
118.6
113.2
114.4
48,435 47,153 48,776 50,035

115.6
NA

114.4
NA

117.3
NA

120.4
NA

2.5
NA

2.6

1.
2.6

1.0
NA

27.99

25.64

23.79

27.61

26.95

26.76

29.00

30.58

14.11
24.01

12.41
20.64

12.08
19.91

14.24
23.04

13.82
23.27

13.43
23.03

15.50
25.21

15.44
26.42

15.4
9.5

-0.
4.8

17.9
15.

-2.9
1.0

12.38

10.62

10.43

12.28

12.24

11.82

13.8

13.65

17.3

-1.6

17.

-0.3

Table 1. Summary of Recent Data and Current Changes for Principal Indicators—Continued
Basic data 2
Unit
of
measure

Series title and timing classification1

Percent change

Annual average
1st Q
1983

2dQ
1983

3d Q
1983

59.10
20.18
70.04

60.31
20.96
71.36

65.41
NA
NA

Aug.
1983

Sept.
1983

Aug.
to
Sept.
1983

Oct.
1983

Sept.
to
Oct.
1983

1st Q
to
2d Q
1983

2dQ
to
3d Q
1983

I. C Y C L I C A L I N D I C A T O R S — C o n .
B 4 . Fixed C a p i t a l I n v e s t m e n t — C o n .
Business Investment Commitments—Con.:
9. Construction contracts, commercial and
industrial buildings, floor space
11. Newly approved capital appropriations, mfg
97. Backlog of capital appropriations, mfg.5
Business Investment Expenditures:
61. Business expend., new plant and equipment
69. Machinery and equipment sales and business
construction expenditures
76. Industrial production, business equipment
86. Nonresid. fixed investment, total, 1972 dollars
Residential Construction Commitments and Investment:
28. New private housing units started, total
*29. New building permits, private housing
89. Fixed investment, residential, 1972 dollars

77.72
26.38
92.46

57.38
21.28
70.76

2.0
3.9
1.9

8.5
NA
NA

9
11
97

0.1

6.7

61

3.1
2.8
1.9

2.6
5.3
3.9

69
76
86

-3.8
8.3

-0.6
12.3
15.6

6.5
0.2
6.8

28
29
89

10.0

9.3

6.28
-14.5
-1.84

NA
NA
NA

12.43
44.1
0.32

13.
24.0
1.27

36
31
38

0.7
0.5

NA
NA
NA

0.5
-0.2
-0.6

1.6
0.9
0.2

71
70
65

NA

-0.08

-0.03

77

NA

1.7

3.6

78

98
23
99

69.20

71.35

C,Lg,Lg.... A.r., bil. dol...

321.49 316.43 293.03 293.46 313.04

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

348.65 325.76 307.34 316.84 325.04 321.28 334.91
158.8
144.3
148.3
156.2
181.1
157.9
163.0
159.9
169.3
174.4
166.1

NA
162.3

4.2
1.5

NA
2.2

1,608
131.7

-12.2
-8.8

L.C.U.... Mil. sq. ft
U,Lg,U.... Bil. dol
C,Lg,Lg.... Bil. dol., EOP .

L,L,L... A.r., thousands.
L,L,L... 1967 = 100
L,L,L... A.r., bil. dol

1,087
80.0
44.7

1,061
80.7
37.8

1,694
118.3
45.5

8.5

-9.4

-15.4

-5.4

3.9

1.77 -14.23
33.3 -14.2
-2.12
0.03

14.83
-34.9
0.83

-2.40
9.2
1.15

11.08
33.2
2.42

1,683
132.8
52.6

1,793
133.0
56.2

1,904
133.4

1,672
121.6

10.56
55.2
3.43

16.84
40.7
1.59

B5. Inventories a n d Inventory Investment
Inventory Investment:
30. Change in business inventories, 1972 dollars3
*36. Change in inventories on hand and on order,
1972 dollars (smoothed6)3
31. Change in mfg. and trade inventories3
38. Change in materials on hand and on order3
Inventories on Hand and on Order:
71. Mfg. and trade inventories5
70. Mfg. and trade inventories, 1972 dollars5
65. Mfrs.' inventories of finished goods5
*77. Ratio, constant-dollar inventories to sales, mfg.
and trade3
78. Stocks of materials and supplies on hand and on
order, mfg.5

L,L,L.
L.L.L..
L.L.L..
L,L,L.

do
do
Bil. dol

Lg,Lg,Lg.... Bil. dol., EOP .
Lg.Lg.Lg....
do
Lg,Lg,Lg....
do
Lg,Lg,Lg.... Ratio
L,Lg,Lg.... Bil. dol., EOP .

• 2 6 . 1 5 511.94 03.22 505.52 513.82 510.43 513.82
57.57 257.05 259.27 258.03 259.27
6 9 . 4 2 261.21
82.41
89.55
82.09 82.62
82.09
81.93
85.07
1.69
1.67
1.58
1.58
1.58
1.61
1.75
198.57
221.56
202.02 209.27 207.68 209.27
196.07

NA
NA
NA

-0.6
NA
0.
NA
0.8

B6. Prices, Costs, and Profits
Sensitive Commodity Prices:
98. Change in producer prices, sensitive materials 3
23. Spot market prices, raw industrials ®
*99. Change in sensitive materials prices (smoothed6)3
Stock Prices:
*19. Stock prices, 500 common stocks (§)

L,L,I Percent
U,L,L..., 1967 =
L,L,L.., Percent

.... L.L.L....

100...

1941-43 = 10.

Profits and Profit Margins:
16. Corporate profits after taxes
18. Corporate profits after taxes, 1972 dollars
79. Corp. profits after taxes with IVA and CCAdj
80
do
1972 dollars
15. Profits (after taxes) per dollar of sales, mfg.3
26. Ratio, price to unit labor cost, nonfarm business

L.L.I A.r., bil. dol..
...do
L.L.L....
L.C.L....
L.C.L....
L.L.L.... Cents
L,L,L.
1977 = 100..

Cash Flows:
34. Net cash flow, corporate
35. Net cash flow, corporate, 1S72 dollars

L.L.L....

Unit Labor Costs and Labor Share:
63. Unit labor cost, private business sector
68. Labor cost per unit of real gross domestic
product, nonfin. corporations
62. Labor cost per unit of output, manufacturing
a) Actual data
*b) Actual data as percent of trend
64. Compensation of employees as percent of
national income3....'

do

• Lg,Lg,Lg... 1977 = 100..
.. Lg,Lg,Lg..., Dollars
• Lg.Lg.Lg-.
• Lg.Lg.Lg...

1967 = 100..
Percent

0.70
273.4
0.69

-2.26
1.0
-0.18

1.76
2.1
-0.20

-1.12
4.6
0.57

-1.80
4.5
-0.52

128.04 119.71 147.65 162.73 165.51 162.42 167.16 167.65

2.9

0.3

10.2

1.7

-0.93
283.4
-0.58

-0.38
242.5
-0.67

2.78
240.7
0.92

1.66
251.7
1.49

-0.14
263.0
0.97

1.20
265.2
1.07

-1.06
267.9
0.

4.8
98.1

115.1
55.6
105.6
51.1
3.4
96.2

108.2
51.7
120.3
57.5
3.3
96.3

127.2
60.6
142.2
67.9
4.0
97.6

141.9
67.4
160.9
76.7
NA
98.3

17.6
17.
18.2
18.1
0
1.4

11.6
11.
13.
13.0
NA
0

16
18
79
80
15
26

271.3
133.3

267.3
125.2

278.9
130.3

310.6
145.9

338.9
159.2

11.4
12.0

9.1
9.1

34
35

142.1

153.3

156.9

156.2

156.5

-0.4

0.

63

-0.8

-0.4

68

-1.5
-3.2

-1.
-3.6

62
62

-0.8

-0.4

-0.40
-1.14
0.03
2.0
1.5

-0.59
-0.23
NA
1.1
0.8

85
102
104
105
106

0.009 0.030
0.005 -0.006 -0.001

107
108

-2.78
-37.83
13.32
-1.6
43

NA
29.45
4.92
6.0
-6.5

33
112
113
111
110

NA
0.30

NA
0.0

14
39

144.1

1.302

1.397

1.428

1.416

1.411

209.0
100.2

228.0
101.0

230.8
97.4

227.4
94.2

223.0
90.6

76.1

76.1

75.3

74.9

• Lg.Lg.Lg...

222.9
90.5

-0.4
-0.9

222.1
89.6

-0.3
-0.8

B7. Money and Credit
Money:
85. Change in money supply (Ml) 3
102. Change in money supply (M2) 3
104. Change in total liquid assets (smoothed6)3
105. Money supply ( M l ) , 1972 dollars
•106. Money supply (M2), 1972 dollars
Velocity of Money:
107. Ratio, GNP to money supply ( M l ) 3
108. Ratio, personal income to money supply (M2) 3
Credit
33.
112.
113.
•111.
110.

Flows:
Change in mortgage debt3
Change in business loans3
Change in consumer installment credit3
Change in credit outstanding3
Total private borrowing

Credit Difficulties:
14. Liabilities of business failures (inv.4) ©
39. Delinquency rate, installment loans (inv. 4 ) 3:




• L.L.L.
L.C.U.
. L.L.L.
L.L.L
L.L.L

. C.C.C.
C.Lg.C...

L.L.L..
L.L.L..
L.L.L..
L.L.L..
L.L.L..

.do.
do
do
Bil dol

0.5
0.81
0.95
197.9
789.8

0.69
'0.73
0.86
198.5
813.9

1.34
1.85
0.83
209.3
872.3

0.94
0.71
0.86
213.4
885.2

0.35
0.48
NA
215.7
892.1

0.23
0.50
NA
215.8
892.5

0.08
0.38
NA
215.0
891.8

0.1
0.75
NA
214.3
894.6

-0.15
-0.12
NA
-0.4
-0.1

Ratio..

6.870

6.711
1.373

6.468
1.301

6.477
1.295

6.507
1.294

1.290

1.299

1.304

0.009

71.86
8.26
40.66
8.4

NA
-0.4
28.50
1.

NA
18.0
NA
NA

NA
-8.73
-12.16
-7.

NA
1.90

NA
1.88

do..

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

. L.L.L.. Mil. dol
. L.L.L. Percent, EOP

NA
-0.62
-7.01
2.16
39.91
4.1
16.79
12.50 -25.33
36.30
42.41
37.49
13.04
24.17
18.14
6.4
0.4
1.4
2.0
7.1
305.60 262.99 268.63 386.59 361.39
579.60
2.37

NA
2.18

NA
2.22

NA
1.92

NA
1.88

NA
0.0

0.04
0.3
NA
-0.3
0.3

NA
18.49
NA
NA

Basic data 2

Unit
of
measure

1

Series title and timing classification

Percent change
Aug.
to
Sept.
1983

Annual average

1981

1982

1st Q
1983

2d Q
1983

3d Q

Aug.

Sept.

1983

1983

1983

Oct.
1983

1st Q
to
2dQ
1983

Sept.
to
Oct.
1983

2d Q

number 1

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

to
3d Q
1983

1. C Y C L I C A L I N D I C A T O R S — C o n .
B7. Money and C r e d i t — C o n .
Bank Reserves:
93. Free reserves (inverted4)3 ©
94. Borrowing from the Federal Reserve 3 ©
nterest Rates:
119. Federal funds rate3 ©
114 Treasury bill rate 3 ©
116 Corporate bond yields3 ©
115 Treasury bond yields3 ( S
117. Municipal bond yields 3 ©
118. Mortgage yields, residential3 ©
67. Bank rates on short-term business loans3 ©
*109. Average prime rate charged by banks3 ©
Outstanding Debt:
66 Consumer installment credit5
72. Commercial and industrial loans outstanding
*101. Commercial and industrial loans outstanding,
1972 dollars
*95. Ratio, consumer install, credit to pers. income3

247
262

93
94

0 . 15
0.34
-0.42
-0.09
-0.20
-0.11
0.11
-0.38

0.66
0.77
1.11
0.91
0.38
1.23
0.78
0.30

119
114
116
115
117
118
67
109

NA
0.6

2.7
-1.8

3.0
-0. 1

66
72

-0.1
-0.06

0.2
NA

-2.2
0.01

-1. 1
0.19

101
95

302.6
0.4
293.9
306.3
318.7
327.2
317.0
289.6
287.3

0.5
0.1
0.3
0.1
-0.1
0.5
0.7
-0.3
0.3

0.3
-0. 1
0.5
0.3
0.5
-0.2
0.3
0.3
0.3

0.8
1. 3
0.4
0.9
0.3
0.
2.1
-0.2
0.5
0. 1

0.8
1.2
0.
0.
1.0
1.1
0.2
1.7
0.8
0.8

310
320
320
322
330
335
331
332
333
334

155.9

156.8

0.6

0.6

0.8

0.6

340

94.2

94.4

0.2

0.2

-0.2
1.0
0.
1.3
1.6

-0.5
1.2
0.
1.2
1.3

341
345
346
370
358

112.26
101.56
10,699
5,174
3,609
1,916
9,022

112.37
101.94
10,423
5 , 125
3,518
1,780
8,832

111.82
101.93
9,886
4,826
3,347
1,713
8,355

0.1
0.4
-2.6
-0.9
-2.5
-7.1
-2.1

-0.5
0.
-5.2
-5.8
-4.9
-3.8
-5.4

0.6
0.8
-1.9
-1.9
-3.8
2.2
-3.4

0.9
1.7
-5.8
-6.6
-6.0
-3.2
-5.7

441
442
37
444
445
446
447

78.6
53.4
54.7

78.6
53.5
54.0

78.4
53.2
52.5

0.
0.1
-0.7

-0.2
-0.3
-1.5

0.3
0.
0.4

0.3
0.4
0.7

451
452
453

17. 2
4.7
1.5
11.3
3.7
1.4

-22.4
-1.1
1.9
3.6
2.9
2.4

500
501
502
510
511
512

L.U.U.... Mil. dol
do
L,Lg,U....

-1,051
1,359

-692
1,052

-164
636

-735
1,203

-982
1,465

-1,127
1,573

-943
1,441

-423
839

-184
-132

-520
-602

L,Lg,Lg.... Percent
do
C,Lg,Lg....
do
LgLgLg ..
do
•• C,Lg,Lg....
do
U.Lg.Lg....
do
Lg,Lg,Lg....
do
Lg,Lg,Lg....
do
Lg,Lg,Lg....

16.38
14.08
15.48
12.87
11.33
16.31
19.56
18.87

12.26
10.72
14.68
12.23
11.66
15.30
14.69
14.86

8.65
8.08
11.99
10.44
9.43
12.73
10.20
10.88

8.80
8.42
11.57
10.35
9.23
12.62
10.31
10.50

9.46
9.19
12.68
11.26
9.61
13.85
11.09
10.80

9.56
9.39
12.89
11.42
9.72
13.78

9.45
9.05
12.68
11.26
9.58
13.55

9.48
8.71
12.54
11.21
9.66
13.23

-0.11
-0.34
-0.21
-0.16
-0.14
-0.23

0.03
-0.34
-0.14
-0.05
0.08
-0.32

10.89

11.00

11.00

0.11

. Lg,Lg,Lg.... Bil. dol., EOP ... 3 2 6 . 2 7
227.06
Lg,Lg,Lg.... Bil. dol

339.32
266.42

345.36
266.15

354.73
261.32

365.33
261.10

362.96
261.34

365.33
261.30

NA
262.80

0.7
0.

9 2 . 14
13.16

106.02
12.92

105.50
12.92

103.23
12.93

102.14
1 3 . 12

102.09
13.17

101.95
13.11

102.18
NA

1972 = 100
1967 = 100
Percent
1967 = 100
do
do
do
do
do
do

195.1
272.4
0.7
274.6
293.4
304. 1
329.0
306.0
264.3
271.3

206.9
289. 1
0.3
285.7
299.3
312.3
319.5
310.4
279.6
280.9

212.8
293.2
0.
288.9
300.5
313.8
317.2
309.5
284.9
282.9

214.6
296.9
0.4
291.6
301.5
313.8
323.9
309.0
286.3
283.2

216.3
300.5
0.4
291.7
304.5
317.1
324.7
314.1
288.7
285.5

300.3
0.4
291.6
304.9
317.5
326.5
314.0
289.6
285.5

301.8
0.5
292.5
305.3
317.2
328.0
316. 1
288.8
286.4

1977 = 100

138.9

148.3

153.2

154.5

155.4

155.0

92.6
143. 1
95.4
101.3
100 3

93.3
154.4
96.9
101.2
100 2

95.0
160.6
99.3
102.5
101 7

94.8
162.2
99.3
103.8
103 3

9 4.3
164. 1
99.3
105.0
104.6

94.0

108.67
100.40
8,273
3,615
2,895
1,763
6,795

110.20
99.53
10,678
5,089
3,613
1,977
9,006

110.53
99.09
11,439
5,642
3,926
1,871
9,811

111.16
99.93
11,222
5,532
3,777
1,913
9,478

112.17
101.60
10,571
5,169
3,549
1,852
8,934

79.0
52.1
55.4

78.7
52.7
54.1

78.1
52.9
53.0

78.4
52.9
53.4

78.7
53.3
54.1

-62.2 -147.1 -183.3
617.4
623.3
627.0
764.4
806.6
689.2
31.3
40.4
35.3
439.1
461.7
418. 1
407 8
421.3
382 7

-166.1
652.6
818.7
51.7
478.7
427.0

-188.5
645.6
834.1
55.3
492.6
437.4

do
Lg.Lg.Lg-Lg.Lg.Lg.... Percent

0.

571
567

II. OTHER IMPORTANT ECONOMIC MEASURES
B. Prices, Wages, and Productivity
B l . Price M o v e m e n t s
310. Implicit price deflator, GNP

320.
320c.
322.
330.
335.
331.
332.
333.
334.

Consumer price index (CPI), all items ©
Change in CPI, all items, S/A1
CPI, food
Producer price index (PPI), all commodities ©
PPI, industrial commodities ©
PPI, crude materials.
PPI, intermediate materials
PPI, capital equipment
PPI, finished consumer goods
B 2 . Wages a n d P r o d u c t i v i t y

340. Average hourly earnings, production workers,
private nonfarm economy
341. Real average hourly earnings, production
workers private nonfarm economy

do
do
do
do
do

346. Real average hourly compensation, nonfarm business
370. Output per hour, private business sector
C. L a b o r F o r c e , E m p l o y m e n t , a n d
Unemployment
441. Total civilian labor force
442. Total civilian employment....
37. Number of persons unemployed

Millions
do
Thousands

444. Unemployed males, 20 years and over

do

445. Unemployed females, 20 years and over

do

446. Unemployed persons, 16-19 years of age

do

447. Number unemployed, full-time workers

do

Labor
451.
452.
453.

Force Participation Rates:
Males, 20 years and over3
Females, 20 years and over3
Both sexes, 16-19 years of age'

Percent
do
do

D. G o v e r n m e n t Activities
D l . Receipts and Expenditures
A.r., bil. dol
do
Sft?

do

Federal Government exoenditures

510. State and local government surplus or deficit 3

do

511

State and local government receiDts

do

512

State and local government expenditures

do.

..

D2. Defense Indicators
517. Defense Department obligations incurred
5?5

Dpfpnse DeDartment Drime contract awards

548

New orders defense Droducts

557. Output of defense and space equipment
570 Employment in defense products industries

Mil. dol
do

. . .

do
1967 = 100
Thousands
Ar

bil dol

15,945
8,065
4,917
102.7
1,392
154 0

18,908
10,718
6,246
109.3
1,371
179 4

20,429
12,434
7,152
116.5
1,356
194 4

20,135
10,352
6,600
117.9
1,362
199 4

19,456
3,608
4,456
21,751
6,319
2,190

17,694
3,053
4,007
20,329
4,964
2,442

16,824
2,975
3,501
19,520
3,429
2,675

16,216
2,861
3,404
20,770
4,246
2,866

NA 2 0 , 4 8 9
NA 1 0 , 7 2 7
4,545
5,464
120.7
121.0
1,356
1,368
201 9

NA
NA
4,946
122.0
1,375

NA
NA
5,629
123.5
NA

NA
NA
8.8
1.1
1.4

NA
NA
13.8
1.2
NA

-1.4
-16.7
-7.7
1.2
0.4
2.6

NA
NA
-17.2
2.6
0.4
1. 3

51"
525

16,630
2,973
3,290
22,782
4,828
2,762

17,387
3,322
3,718
22,175
5,538
2,547

NA
NA
NA
NA
NA
NA

4.6
11.7
13.0
-2.7
14.7
-7.8

NA
NA
NA
NA
NA
NA

-3.6
-3.8
-2.8
6.4
23.8
7.1

4.1
9.1
4.4
7.4
22.4
-3.5

60;
60^
606
6i:
61^
61*

548
55"
57C
564

E. U.S. I n t e r n a t i o n a l T r a n s a c t i o n s
E l . Merchandise Trade
602
604
606
612
614
616

Exports excluding military aid shipments, total
Exports of domestic agricultural products
Exports of nonelectrical machinery
General imports total
Imports of petroleum and products
Imports of automobiles and parts




Mil. dol
do
do
do
do
do

16,882
3,122
3,554
22,302
5,195
2,766

Table 1. Summary of Recent Data and Current Changes for Principal Indicators—Continued
Basic data2
Series title

Unit
of
measure

Percent change

Annual average
2dQ
1982

3dQ
1982

4th Q
1982

1st Q
1983

2dQ
1983

3d Q
1983

-0.80
87.08
87.88
-9.10
52.80
61.90
21.04
14.21

3.24
90.79
87.55
-5.85
55.00
60.85
22.32
14.78

-4.85
86.93
91.79
-13.08
52.24
65.32
21.57
14.75

-4.19
80.84
85.03
-11.35
48.34
59.70
19.50
13.49

-2.03
81.14
83.17
-8.81
49.51
58.32
17.70
12.61

-7.87
81.88
89.75
-14.66
48.91
63.57
19.19
13.26

NA
NA
NA
-17.89
50.76
68.66
NA
NA

3070.2
1489.3
6,425
1492.7
2159.0
1060.2
4,574

3090.7
1485.7
6,393
1487.0
2191.5
1059.3
4,558

3109.6
1480.7
6,355
1503.4
2227.8
1066.1
4,576

3171.5
1490.1
6,382
1505.5
2255.9
1073.8
4,599

3272.0
1525.1
6,518
1530.5
2301.0
1083.0
4,629

3360.3
1553.6
6,623
1549.7
2363. 1
1102. 1
4,699

2008.8
1972
971.0
968
243.4
242
138.2
139
766.6
754
364.7
363
998.9
975.2
468.2
465.7

2046.9
979.6
252. 1
143.2
773.0
366.0
1021
470.4

2073.0
986,
258,
145.8
777.1
368.9
1037.4
472.0

2147.0
1010.6
277.7
156.5
799.6
374.7
1069.7
479.4

4th Q
to
1st Q
1983

1st Q
2dQ
1983

2dQ
to
3d Q
1983

II OTHER I M P O R T A N T ECONOMIC
MEASURES—Con.
E2. G o o d s a n d S e r v i c e s M o v e m e n t s E x c e p t
Transfers Under Military Grants
667.
668.
669.
622.
618.
620.
651.
652.

Balance on goods and services3
Exports of goods and services
Imports of goods and services
Merchandise trade balance3
Merchandise exports
Merchandise imports
Income on U.S. investments abroad
Income on foreign investments in the U.S..

Bil. dol
do
do
do
do
do
do
do

1.87
85.52
83.65
-6.39
56.06
6 2 . 44
18.11
10.72

2.88
93.66
90.78
-7.02
59.25
66.27
21.56
13.19

2.16
0.4
-2.2
2.54
2.4
-2.3
-9.2
-6.5

-5.84
0.9
7.9
-5.85
-1.2
9.0
8.4
5.2

2.0
0.6
0.4
0. 1
1.3
0.7
0.5

3. 2
2.3
2. 1
1.7
2.0
0.9
0.7

2182.9
1018.0
284
158
814
378
1083
481.1

1.8
0
0.8
1.5
0.3

3
2.4
7.4
7.3
2.9
1.6
3. 1
1.6

NA
NA
NA
-3.23
3.8
8.0
NA
NA

667
668
669
622
618
620
651
652

1.3
2.7
1.8
1.5

200
50
217
213
224
225
227

A. N a t i o n a l I n c o m e a n d P r o d u c t
A l . GNP and Personal Income
200.
50.
217.
213.
224.
225.
227.

GNP, current dollars
GNP, 1972 dollars
Per capita GNP, 1972 dollars
Final sales, 1972 dollars
Disposable personal income, current dollars
Disposable personal income, 1972 dollars
Per capita disposable personal income, 1972 dollars

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

2631.7
1475.0
6,478
1479.4
1828.9
1021.6
4,487

2954.1 3073.0
1513.8 1485.4
6,584
6,399
1505.3 1494.8
2047.6 2 1 7 6 . 5
1054.7 1060.2
4,567
4,587

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

1668.1
931.8
214.7
137.5
668.8
355.6
784.5
438.8

1857.2
956.8
236.1
141.2
733.9
362.5
887.1
453.1

1991.9
970.2
244.5
139.8
761.0
364.2
986.4
466.2

401.9
208.5
411.7
212.9
-9.8
-9.8

474.9
227.6
456.5
219.1
18.5
18.5

414.5
194.5
439.1
203.9
-24.5
-24.5

432.5
201.4
443.7
204.9
-11.2
-3.4

425.3
198.4
430.2
199.8
-4.9
-1.3

377
178.4
433
201
-56.4
-22.7

404.1
190.0
443.5
205.4
-39.4
-15.4

450.1
210.2
464.6
215.6
-14.5
-5.4

498.2
229.4
489.5
225.5
8.7
3.9

7.1
6.5
2.2
2. 1
17.0
7.3

11
10
4
5
24.9
10.0

10
9
5.4
4.6
23..2
9.3

240
241
242
243
245
30

595,
286,

631.6
285.8
244.1
110.3
387.5
175.4

655.7
292.2
261.7
116.9
394.0
175.3

679.7
299
279.2
124.4
400
175.2

677.4
292.9
273.5
118.4
404.0
174.5

683.4
292. 1
273.7
117.6
409
174.5

699.4
295.8
278.9
119.3
420.6
176.5

-0.3
-2.3
-2.0
-4.8
0.9
-0.4

0.9
-0.3
0. 1
-0.7
1.4
0.

2
1
1
1
2.7
1.1

260
261
262
263
266
267

A2. Personal C o n s u m p t i o n Expenditures
230.
231.
232.
233.
236.
238.
237.
239.

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

230
231
232
233
236
238
237
239

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

Total, current dollars
Total, 1972 dollars
Total fixed investment, current dollars.
Total fixed investment, 1972 dollars.
Change in business inventories, current dollars3
Change in business inventories, 1972 dollars3

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

A4. G o v e r n m e n t Purchases
of G o o d s a n d S e r v i c e s
260.
261.
262.
263.
266.
267.

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

250.
255.
252.
256.
253.
257.

Net exports of goods and services, current dollars3
Net exports of goods and services, 1972 dollars3
Exports of goods and services, current dollars
Exports of goods and services, 1972 dollars
Imports of goods and services, current dollars
Imports of goods and services, 1972 dollars

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

197.0
106.4
340.8
177.9

110,
366,
176.1

649.
291.
258.
116.
390.5
175.2

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

23.9
50.3
338.8
159.1
314.8
108.8

26.3
43.0
368.
159.7
342.5
116.7

17.4
28,
347,
147.
330.
118.4

33.3
33.4
364.5
154.5
331.2
121.1

0.9
24
346.0
146.4
345.0
122.4

5.6
23.0
321.6
136.5
316.1
113.5

17.0
20.5
326.9
137.3
309.9
116.8

-8.5
12.3
327 1
136
335
123.9

-20.2
10.4
341
140
361
130.2

11.4
-2.5
1.6
0.6
-2.0
2.9

-25.5
-8.
0.1
-0.8
8. 3
6. 1

-11.7
-1.
4.
3.
7.
5.1

250
255
252
256
253
257

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

2116.6
1599
117.4
31.5
175.4
192.6

2373.0
1769
120
41
192
249.9

2450.4
1865.7
109.0
49.9
164.8
261.1

2448.9
1859.9
104.9
49.0
166.8
268.3

2458.9
1879.5
103.6
50.9
168.5
256.4

2474.0
1889.0
116.2
52.3
161.9
254.7

2528.5
1923.7
120.6
54.1
181.8
248.3

2612.8
1968.7
127.2
54.
218.2
243.

2686.6
2011.9
128.9
53.9
246.2
245.7

2.
1.8
3.8
3.4
12.3
-2.5

3.3
2.3
5. 5
1.3
20.0
-1.8

2
2
1
-1
12.8
0

220
280
282
284
286
288

do..
do..
do..
....do..
Percent

405.9
325.2
110.2
-30.7
6.0

483.8
374.4
135.3
-26.9
6.6

405.
396.2
125.4
-115.8
5.

439.5
393.6
127.1
-81.2
5.9

397.9
401.9
123.0
-127.0
5.

351.3
405.8
120.
-175.3
5.4

398.5
419.
121.7
-142.9
5.4

420.6
452.0
443.4
469.7
91.5
115.5
-114.4 -133.3
4.0
4.9

13.4
3.4
0.7
32.4
0.

5.5
5.6
-24.8
28.5
-1.4

7
5.9
26
-18
0.9

290
295
292
298
293

A5. Foreign Trade

A 6 . N a t i o n a l I n c o m e a n d Its C o m p o n e n t s
220.
280.
282.
284.
286.
288.

National income
Compensation of employees
Proprietors' income with IVA and CCAdj
Rental income of persons with CCAdj
Corporate profits with IVA and CCAdj
Net interest
A7.

290.
295.
292.
298.
293.

Saving

Gross saving (private and government)
Business saving
Personal saving
Government surplus or deficit3
Personal saving rate3

NOTE: Series are seasonally .adjusted except for those, indicated by @ , that appear to contain no seasonal
movement. Series indicated by an asterisk (*) are included in the major composite indexes. Dollar values are in
current dollars unless otherwise -^ecified. For complete series titles and sources, see "Titles and Sources of
Series" at the back of this issue NA, not available, a, anticipated. EOP, end of period. A.r., annual rate. S/A,
seasonally adjusted (used for special emphasis). IVA, inventory valuation adjustment. CCAdj, capital consumption
adjustment.
1
The three-part timing code indicates the timing classification of the series at peaks, at troughs, and at all
turns: L, leading; C, roughly coincident; Lg, lagging; U, unclassified.




2
For a few series, data shown here are rounded to fewer digits than those shown elsewhere in BCD. Annual
figures published by the source agencies are used if available.
3
Differences rather than percent changes are shown for this series.
4
Inverted series. Since this series tends to move counter to movements in general business activity, signs of
the changes are reversed.
5
End-of-period series. The annual figures (and quarterly figures for monthly series) are the last figures for the
period.
6
This series is a weighted 4-term moving average (with weights 1, 2, 2, 1) placed on the terminal month of
the span.

CYCLICAL INDICATORS
COMPOSITE INDEXES AND THEIR COMPONENTS
Chart A l . Composite Indexes
Aug. Apr.
P T

Apr. Feb
P T

Jan. July July Nov.
P T P T

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 80 81 82 1983
NOTE: Numbers entered on the chart indicate length of leads ( - ) and lags ( + ) in months from reference turning dates.
Current data for these series are shown on page 60.

10




NOVEMBER 1983

CYCLICAL INDICATORS
COMPOSITE INDEXES AND THEIR COMPONENTS—Continued
Chart Al. Composite Indexes—Continued
Aug. Apr.

P

T

Apr. Feb

Jan.July July

PI

P T

P T

P

Nov.
T

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

investment commitments (serifs 12, 2

estment and purchasing (series 8, 32,

MS. ProfflaMy (series p , 26,80

(serie$iO4, iOR IIX)

. Ratio, coincident index to tagging i

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 80
NOTE: Numbers entered on the chart indicate length of leads ( - ) and lags ( + ) in months from reference turning dates.
Current data for these series are shown on page 60.

BCII

NOVEMBER 1983




11

CYCLICAL INDICATORS
A

COMPOSITE INDEXES AND THEIR COMPONENTS—Continued

Chart A2. Leading Index Components
Jan. July July Nov.
P I P
T
1.

Average workweek, production workers
manuf inuring

(th^sands—inverted scale)

Klflew orders fol consumer
" . dol.)

32.

12.

20.

goods and materials, 1972 dollars

Vendor performance, percent of companies receiving slower
jWveries (percent)

Net business formation (index: 1967 = 100)

Contracts and orders for plant and equipment,

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 80 81 82 1983
Current data for these series are shown on pages 6 1 , 64, 65, and 66.

12




NOVEMBER 1983

BCII

CYCLICAL INDICATORS
A

COMPOSITE INDEXES AND THEIR COMPONENTS—Continued

Chart A2. Leading Index Components—Continued
Nov Oct.
P I

ujiy May
P T

Aug Apr
Pi

Apr. h:h
P T

Dec. Nov
P
T

Nov. Mar.
P
T

Jan. July July Nov.
P T" P
T

29. New building permits, private housing units (index: 1967 = 100)
IILL I

36. Net change in inventories on hand and on order, 1972 dollars,

99. Change in sensitive materials prices, smoothed1 (percent)

111. Change in credit outstanding—business and consumer
(ann. rate, percent) 11 M

j

19. Stock prices, 500 common stocks
<inde||94l43i|0)

nil

it

3§6. MonH supply-M2-in 1972 dollars -(ML

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 80 81 82 1983
'This is a weighted 4-term moving average (with weights 1,2,2,1) placed on the terminal month of the span.
Current data for these series are shown on pages 67, 6 8 , 6 9 , 7 1 , and 72.

BCII

NOVEMBER 1983



13

CYCLICAL INDICATORS
A

I

COMPOSITE INDEXES AND THEIR COMPONENTS—Continued

Chart A3. Coincident Index Components
Nev Oct
P

T

July May
P

T

Aug Apr.
P

T

Apr Feb.
P

T

De,;. Nov.
P

y

Nov

Mar.

P

•

Jan Juiy • < >
P T
P

No
I

51. Personal income less transfer payments,
1972 donart^nn. rate,
i

47. Industrial producti^ total (indettg|87=10O)

y

57. Manufacturing and trade sales,
1972 dollars (bH. ^

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 80 81 82 1983
Current data for these series are shown on pages 62, 63, and 65.

14




NOVEMBER 1983

BCII

CYCLICAL INDICATORS
IA

COMPOSITE INDEXES AND THEIR COMPONENTS—Continued

Chart A4. Lagging Index Components
July

May

Aug.
P

Dec. Nov.
P T

Mjrr
T

P

T

Nov.

Mar.

P

T

Jan. July July
P T

P

Nov.
T

91. Average duration of unemployment (weeks—inverted sc

117. RatioHonsfant-doMar inventories to sates,
Si and trade (rafkri

per unit of output,
offrend (percent)

109. Average prime rate charged by banks (percent)

101. Commercial and industrial loans outstanding
in 1972 dollars (b8. dol.)

Katio, consumer installment credit to personal

1948 49

50 51 52 53 54 55 56 57 58 59 60 61 62 63 84 65 66 67 68 69 70 71 72 73 74 75 76 77 78 79 80 81 82 1983

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

Bill NOVEMBER 1983




15

CYCLICAL INDICATORS
B I

CYCLICAL INDICATORS BY ECONOMIC PROCESS

Chart Bl. Employment and Unemployment
Au^

Apr

AD'

PI

Mi

J

PI

P I

P

1 Marginal Employment Adjustments!

1. Average workweek, production workers, manufMturing (hours)

¥ 1

42-s

39-

\^ If"

38" 1
21.

Average weekly overtime hours, production workers, manufacturmg (hours)
^J '1

2.

S.

4---C
Accession rate, manufacturing (per 100 employees)

Average weekly initial claims, State unemployment insurance (thousands—inverted scale)
200-

300-

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

[ y j

4. Quit rate, manufacturing (per 100 employees)

1956 57

58

59

60

61

62

63

64

85

66

67

68

69

70

71

72

73

74

75

76

77

78

79

80

81

82 1983

Current data for these series are shown on page 6 1 .

16




NOVEMBER 1983

BCII

CYCLICAL INDICATORS
B

I

CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued

Chart B l . Employment and Unemployment—Continued

1.4-

1.0-

0.6-

0.2-

200-

46. Help-wanted advertising (index:

17515012510075-

180170-

160-

150-

140100959085807570-

65282726252423222120-

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

81

82 1983

Current data for these series are shown on pages 6 1 and 62.

NOVEMBER 1983



17

CYCLICAL INDICATORS
B

I

CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued

Chart B l . Employment and Unemployment—Continued
Apr Feb
P
7

Aug. Apr.
P

7

Dec ^ov
P
7

p

F

7

F
59

ICo^jShensive Eminent—Con.

| U,LgTU |

58-

j

90. Ratio, civilian employment to total population of working ase ( p e r c e n t ) ^ ^ ^ ^

57-

sf^i?!'
56-

Mi

55
54

iCorjihensiveUnelifeymentl
' A ^%
^r^
'

, , u l / ^ ,
. .
u
37. Number unemployed, total (mfI||S—inverted scale)

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

u

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

91. Average duration of unemployment (weeks—inverted scale)
lU.Lg.Ul

ISVIZ

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

5J
1956

57

58

59

60

61 62

63

64

65

66

67

68

69

70

71 72

73

74

75

78

77

78

79

80

81 82 1983

Current data for these series are shown on page 62.

18




NOVEMBER 1983

CYCLICAL INDICATORS
B

I

CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued

Chart B2. Production and Income

1956

57

58

59

60

61

62

63

64

65

66

67

68

69

70

71

72

73

74

75

76

77

78

Jan. July

July

Nov.

P T

P'

T

79

80

81

82

1983

Current data for these series are shown on page 63.

ItCII

NOVEMBER 1983



19

CYCLICAL INDICATORS
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued

Chart B2. Production and Income—Continued
id i J u 1 / J i ; . / N c v
P I P
!

A u 6 Apr
P
[

llndusteal Production I
47.

industrial production, total (index: 1 9 6 7 = 1 0 0 )

lc,c,ci

74.

Industrial production, nondurable manufactures

(index: 1967=100) j l X n

"^

73. Industrial production, durable manufactures
(index: 19$7= 100) [ ( f e e

49.

83.

I Capacity Utilization!

value or goods output in 19/z dollars,
(ann. rate, bil. dot.)

Rate of capacity utilization, manufacturing (BEA), Q (percent)
908070-

82.

60-

Rate of capacity utilization, manufacturing (FRB), Q (percent)

908070-

84.

60-

Rate of capacity utilization, materials, Q (percent)

90807060-

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

81

82 1983

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

20




NOVEMBER 1983

KCII

CYCLICAL INDICATORS
B

I

CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued

Chart B3. Consumption, Trade, Orders, and Deliveries

10090-

lOrdfland Wive

80-

durable
dollars (btl. doL

706050-

New orders, durable foofo Industrie^. 1972 dofaip

40-

30-

45-

8. New orders for
in 1972 dollars (bil.

40353025-

25. Change in unfilled orders,
(bil. dol.; MCD moving av

+6-

+ 4-

+ 2-

0-

-2-

-4.
380340-

300260220-

96. Manufacturers' untied orders, dur

180-

140-

100-

60-

32. Vendor performance,
receiving slower

of companies
ent)
100755025-

1956

57

58

59

60

81

62

63

64

65

66

67

68

69

70

71

72

73

74

75

76

77

78

79

80

81

82 1983

Current data for these series are shown on page 64.

BCD

NOVEMBER 1983




21

CYCLICAL INDICATORS
B

I

CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued

Chart B3. Consumption, Trade, Orders, and Deliveries—Continued
Au^ Apr
P
T

Apr

hb

F

I

J

f;

| Consurription a n d S l e l
lit

''I 4~

r
56. Manufacturing and trade sales in current dollars

i;

(bil. dol.)

rFFcl

ft!
and trade sates
dollars (bil. dol.)

75. Industrial production,
(index: 1967=100)

54. Safes of retail
es of retail stores in 1972 dollars (bil. dol.)

UTSl

X

tion expenditures,
(am. rate, bil. dol.)

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

81

82 1983

Current data for these series are shown on page 65.

22




NOVEMBER 1983

KCII

CYCLICAL INDICATORS
B

I

CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued

Chart B4. Fixed Capital Investment
Aug. Apr.
P
T

Apr. Feb
PI

Jan. Juiy

July

p T

P

Nov.

r

Manufacturers new orders,
nondefense, in current dollars

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

81

82 1983

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

ItCII

NOVEMBER 1983




23

CYCLICAL
B

I

INDICATORS

CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued

Chart B4. Fixed Capital Investment—Continued
Dec Nov.
P
T

Au£ Aor
PI

Jan Juiy J'j'y
P I P

No

1 Bu$}nt$s Investment Commitments—Con. [

97. Backlog of capita! appropriations, manufacturing, Q
(bB.dol.)
13777

11. New capital appropriations, manufacturing

Q(bH.dol.)

a

61. Business expenditures for new plant and equipment, Q
(ann. rate, bil. dol.)

aess investment Expenditures |

Machinery and equipment sales l i d business
construction expenditures (arm. rate, bil. dot.)

J^

76. Industrial production, business equipment

l i :

1956

57

58

59

60

61

62

63

64

65

66

67

68

69

70

1 9 6 7 = * ^

71

72

73

74

75

76

77

78

79

80

81

82 1983

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

24




NOVEMBER 1983

BCII

CYCLICAL INDICATORS
B

I

CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued

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

P

Dec Nov.
P
T

T

Nov.
P

Jan. July Ju!y
P I P

Mar.
T

Nov.
T

:i§iff
(ficscl investment In 1972 (Mars, Q (ann*

lip

89. Residential fixed investment, total, in
•/ (ann. rate, bil.;dolHl "

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

81

82 1983

Current data for these series are shown on page 67.

NOVEMBER 1983



25

CYCLICAL INDICATORS
B

I

CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued

Chart B5. Inventories and Inventory Investment

1 Inventory Investment]

Dei

Nov.

P

T

N.-v
P

?

1

T

P

30. Change in business inventories, l f j $ dollars, Q (ann. rate, bil. dol.)

36. Net change in inventories on hand and on order, 1972 dollars
(ann. rate, bil. dol.; moving avg.—4-tern^l V T T T I """1

31. Change in book value, manufacturing and trade inventories
(ann. rate, bil. dol.; MCD moving avg.—6-ternl)

38. Change in stocks of materials and supplies on hand and on order,
manufacturing (bil. dol.; MCD moving avg.—4l&§ti)

?7

5B

5S

60

81

62

63

64

65

66

67

68

69

70

71

72

73

74

75

76

77

78

79

30

81

82 1983

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

26




NOVEMBER 1983

ItCII

CYCLICAL INDICATORS
B

I

CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued

Chart B5. Inventories and Inventory Investment—Continued
Ian. July
P

July

Nov.

T

P

T

80

81

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

1956

57

58

59

60

61

62

63

64

65

66

67

68

69

70

71

72

73

74

75

76

77

78

79

82

1983

Current data for these series are shown on page 68.

BCII

NOVEMBER 1983



27

CYCLICAL INDICATORS
B

I

CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued

Chart B6. Prices, Costs, and Profits

98. Change in producer prices

0-

-2-4-6-

99. Change in sensitive
materials
avg.—4-term1)

(percent; moving

-2-

340 300-

260220-

23. Spot market prices, raw industrials2

180-

DIE

140J
180160140120100-

60 J

180140100-

18. Corporate profits after taxes, 1972
(ann. rate, H . dot.)
fjjj

Corporate profits after taxes,
(ann. rate, bl. dol.)
20-J

1956 57

58

59

80

61

62

83

64

65

66

67

88

69

72

73

74

75

78

77

78

79

80

81

82 1983

'This is a weighted 4-term moving average (with weights 1,2,2,1) placed on the terminal month of the span.
'Beginning with data for June 1981, this is a copyrighted series used by permission; it may not be reproduced without written permission from Commodity Research Bureau, Inc.
Current data for these series are shown on page 69.

28




NOVEMBER 1983

BCII

B

CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued

Chart B6. Prices, Costs, and Profits—Continued

Corporate prof its after taxes with IV A and CCAdj,

1972 dollars, | | | | p ^

79.

;'956 5?

m

59

60

61

82

63

64

Corporate profits after tax
current ^ ^ ^ ^

65

66

67

68

69

70

71

72

73

74

75

76

77

78

79

80

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

BCII

NOVEMBER 1983




29

CYCLICAL INDICATORS
B

I

CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued

Chart B6. Prices, Costs, and Profits—Continued
Aug. Ap,
P T
17016015014013012011010090-

6 1 Unit tabor cost, private business
(index: 1977
1.61.51.41.31.21.11.00.9-

Labor cost (current dollars) per unit of gross
(1972 dollars), nonfinancial corporations, 0 (

0.8-1

260240220200180 -

160-

140-

62. Labor cost per unit of output,

120-

100-

30-i

164. Compensation of employees as a percent of

787674-

^:;|1 m

7270-

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

81

82 1983

Current data for these series are shown on page 70.

30




NOVEMBER 1983

BCII

CYCLICAL INDICATORS
B

I

CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued

Chart B7. Money and Credit

E: ' I MM
ft money supply M2
(percint; MCD moving avfr^S*term)

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

Money supply—Ml—Ifi 1972 (Mars (Ml. dol.)
L

106. Money supply—M2—»i 1972 d | M (brl doi.)

I

107. Ratio, GNP to money supply M l , Q |

personal income to money

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

81

82 1983

'This is a weighted 4-term moving average (with weights 1,2,2,1) placed on the terminal month of the span.
Current data for these series are shown on page 7 1 .

KCII

NOVEMBER 1983



31

CYCLICAL INDICATORS
B I

CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued

Chart B7. Money and Credit—Continued
Dfv

P

T

No*

P

JL'V

VJV

T

33. Change in mortgage debt (arm. rate,

112. Change in business loans (am. rate, bil
MCD moving avg.—6-term) ,, , ,

113. Change m consumer installment credit (arm.

111. Change in credit outstanding
borrowing (aim. rate, percent)

110. Total private borrowing, Q (
L

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

81

82

1983

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

32




NOVEMBER

1983

BCII

CYCLICAL INDICATORS
B I

CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued

Chart B7. Money and Credit—Continued
Aug Apr,
P

Apr, Feb.

T

P

Dec
p

T

93.

1956 57

•.•

58

••

;

:; f i f r

59

60

;

:

61

• '- • " '

• '•.••

62

63

•'

"

64

Nov.

T

P

Ma
T

Jan.
P

July

July

Nov.

T

P

T

Free reserves (bil. dol.

94.

• i f f ?

Nov.

Member bank

•"• •••

65

:

. • ••

66

• •'•

•••.- ••••

67

68

"•

69

;

70

p

f

71

§

*

72

i

P

i

73

i

l

74

.11111!

l

75

76

77

78

79

80

81

82 1S83

Current data for these series are shown on page 72.

NOVEMBER 1983



33

CYCLICAL INDICATORS
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued

Chart B7. Money and Credit—Continued

20 -

191817161514131211109-

1615141312111095 "°

181716151413*
12-

118. Secondary market yields on FHA

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

81

82 1983

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

34




NOVEMBER 1983

ItCII

CYCLICAL INDICATORS
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued
Chart B7. Money and Credit—Continued
Aug. Apr.
P

Apr. Feb

T

P

Dec,

Nov.

P

I

T

Jan. July
P

T

July
P

Nov.
T

1L

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

81

82 1983

Current data for these series are shown on page 73.

NOVEMBER 1983



35

CYCLICAL INDICATORS
C

I

DIFFUSION INDEXES AND RATES OF CHANGE

Chart C l . Diffusion Indexes

950. Twelve leading indicator components ($-mo. span—, l-mo. span—)

[Percent rising]

951. Four roughly coincident indicator compwnts (6-mo. span-—, l~mo. s p a n — )

952. Six lagging indicator components ($-po. s p a n — , 1-mo. $pm~—)

961. Average workweek, production workers, manufacturing— 20 industries (9-mo. s p a n — , 1-mo. s p a n — )

962. Initial claims, State unemployment insurance—51 areas (percent declining; 9-mo. s p a n — , 1-mo. s p a n — )

963. Employees on private nonagricultural payrolls—172-186 industries (6-mo. s p a n — , 1-mo. span—-)

1/*&

?:

^3

*£

6- !

ol

62

63

64

65

66

88

69

73

7-i

Current data for these series are shown on page 74.

36




NOVEMBER 1983 B C D

CYCLICAL INDICATORS
C

I

DIFFUSION INDEXES AND RATES OF CHANGE—Continued

Chart C l . Diffusion Indexes—Continued
Hug.

MO;

Dec.

Nov.

Nov.

P

T

P

sn ^ ...

'••

•'•::

•••-'

Jan. July
P T

Mar
T

July
P

Nov.
T

t p ^ $

industries-34-35 industries (9-mo.
100-

0-

^
90-

mmm

70-

SO-

wmmsm

100-

50 «

0-

, Spot market prices, raw industrials—13
100-

50-

0-

^dc^
100-

50-

0-

960.

Net profits, manufacturing
90-

70-

30
;956 57

58

59

80

61

62

63

64 65

67

68

69

70

71

72

73

74

75

76

77

78

79

80

81

J

82 1983

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

KCII

NOVEMBER 1983



37

CYCLICAL INDICATORS
DIFFUSION INDEXES AND RATES OF CHANGE—Continued
Chart C l . Diffusion Indexes—Continued
Nov

Jan. July

Mar

P

T

July
P

Nov.
T

Actual
&%&*+

I Percent rising]
970. Business expenditures for new plant ar
equipment—22 industries (1-Q span)

// --.'

(a) Actual expenditures

(a) Actual expenditures

9 7 1 , ; " $ * orders, manufacturing ( 4 - $ span) r,.

« , manufacturinj (4-Q span)'

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

973.

JWt

sales, manufacturing and trade
fa- %•"• v ,

r
1

/

es, wholesale trade (4-Q span)1

10090-

1

80-

\

7060-

1971

72

73

74

75

76

77

78

79

80

81

82 1983

1971

72

73

74

75

76

77

78

79

80

81

82

1983

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

38



NOVEMBER 1983

BCII

CYCLICAL INDICATORS
C

DIFFUSION INDEXES AND RATES OF C H A N G E — C o n t i n u e d

Chart C3. Rates of Change

•• - t i c

Dec. Nov.

lip

A us: Apr
P

P

7

1Ipj '.
1
f change at il rate

Nov

Mai

P

T

3#|^#^-«--H

910c. Composite index of 12 teadJng indicators

920c. Composite Index of 4 roughly

930c. Composite index of 6

50c. GNP in constant (1972)

48c. Employee-hours in nonagricultural

"••

•

'-

'

• • • ' • •

'

•'

'

illip

51c. Personal income less transfer

payments in 1972

1958 57

58

59

60

61

62

63

64

65

86

67

68

69

70

71

72

73

74

75

76

77

78

79

80

81

82 1983

NOTE: Data for these percent changes are shown occasionally in appendix C. The "Alphabetical Index—Series Finding Guide" indicates the latest issue in which the data for each series were published.

NOVEMBER 1983




39

OTHER IMPORTANT ECONOMIC MEASURES
NATIONAL INCOME AND PRODUCT

Chart A l . GNP and Personal Income
Aug. Apr.
p
T

Dec.
P

Apr. Feb
P

T

Nov

Nov
T

Mat.

Jan. Juiy
P

I

Juiv
P

Nov.
I

200. GNP in a f r i n r < p | $ , y (arm, rate,

223. Personal income in current dollars

224. Disposable personal income in current
> Q (ann. rate, bil.dol.)
?:

rate, bil. dol.).

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

capita disposable personal income in
dulldis, Q ( 4 ^ # e , Umm. dul.)

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

81

82 1S83

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

40




NOVEMBER 1983

BCII

OTHER IMPORTANT ECONOMIC MEASURES
NATIONAL INCOME AND PRODUCT—Continued
Chart A2. Personal Consumption Expenditures
Jan. July July
P I P

:

1956 57

58

59

60

61

62

63

64

65

66

67

68

69

70

71

72

73

74

75

76

'
77

78

79

if?
80

Nov.
T

, : filpil
81

82 1983

Current data for these series are shown on pages 80 and 8 1 .

NOVEMBER 1983




41

OTHER IMPORTANT ECONOMIC MEASURES
A

NATIONAL INCOME AND PRODUCT—Continued

Chart A3. Gross Private Domestic Investment
Apr

< :;

f

I

Annual rate, billion dollars (current^

Gross private domestic investment—

245. Change in business i

[Annual rate, billion dollars (197

•"5 57

58

59

60

61

62

63

64

65

66

67

68

69

70

71

72

'J'i

^

75

76

77

78

79

80

81

82 1983

Current data for these series are shown on page 8 1 .

42




NOVEMBER 1983

BCII

OTHER IMPORTANT ECONOMIC MEASURES
NATIONAL INCOME AND PRODUCT—Continued
Chart A4. Government Purchases of Goods and Services
Aug. Apr

P

1956

57

T

58

59

60

61

62

63

64

65

66

67

68

69

70

71

72

73

74

75

78

77

78

79

80

81

82 1983

Current data for these series are shown on page 8 1 .

BCII

NOVEMBER 1983



43

OTHER IMPORTANT ECONOMIC MEASURES
NATIONAL INCOME AND PRODUCT—Continued

Chart A5. Foreign Trade
'•ii£ Apr
PI

Apr FeD
P
T

No;

Mar

Jan J u ' y
P T

iAnnual

rate

>

billion

'< >\
P

dollars (current) [-

1
400 Hi

I services, Q -

252. Exports of]

Si

ML

2^1lmports of goods ^ ^ v i c e s , Q

and service^!

-a 4

1 Annual rate, billion dollars (1972) [

••

services,

2S7.

255.

956 57

58

59

60

61

62

63

64

65

66

Q

i

^

Imports of goods and services, Q

Net exports of

67

68

69

70

71

72

73

74

75

76

77

78

79

80

81

82 1933

Current data for these series are shown on page 82.

44




NOVEMBER 1983

BCII

OTHER IMPORTANT ECONOMIC MEASURES
NATIONAL INCOME AND PRODUCT—Continued
Chart A6. National Income and Its Components
;ar

IUIV

k'^

F

I'

f

Nfv

I

Annual rate, billion d o b r s H u r r e i r t l S

Compensation of employees, Q

286. Corporate profits with inventory valuation and capital consumption adjust

40-

income with inventory valuation and
consumption adjustments, Q

20-

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

1956

57

58

59

60

61

62

63

64

65

66

67

68

69

70

71

72

73

74

75

78

77

78

79

80

81

82 1983

Current data for these series are shown on page 82.

BCII

NOVEMBER 1983



45

OTHER IMPORTANT ECONOMIC MEASURES
NATIONAL INCOME AND PRODUCT—Continued
Chart A7. Saving
A l t A.

I Annual rate, biWon doHars (current)

1856 57

58

59

60

61

62

63

64

65

66

67

68

69

70

71

72

73

74

75

76

77

78

79

80

Si

82 1933

Current data for these series are shown on pages 82 and 83.

46




NOVEMBER 1983

BCII

OTHER IMPORTANT ECONOtaJ...
IA

I

NATIONAL INCOME AND PRODUCT—Continued

Chart A8. Shares of GNP and National Income

<- r

r

70-i

235. Personal consumption expenditures, Q

65-

60 J
20 T

268. State and local {cwernment purchases
t
of foods and services, Q

15-

Federal Government purchases of goods and services, Q
10-

248. Nonresidential fixed investment, Q
5-

249. Residential fixed investment, Q
0-

247. Change in business inventories, Q

251. Net exports of goods and services, Q
-5-

iPetjefit of National Ineome |
80-i

64. Compensation of employees, Q
75-

70-

65 J

283L Proprietors'Jt£ome with inventory valuation
and capital consumption adjustments, Q
287. Corporate profits with inventory valuation
capital consumptkm adjustments, Q

10-

289. Net interest, Q

5-

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

0-i
7

?:<

74

75

76

77

78

79

80

81

82 1983

Current data for these series are shown on page 83.

BCII

NOVEMBER 1983



47

OTHER IMPORTANT ECONOMIC MEASURES
B

I

PRICES, WAGES, AND PRODUCTIVITY

Chart B l . Price Movements
Ma

Nov.

310c. Implicit price deflator

310.
311c. Fixed weighted price index, gross business

311. Fixedgross

price index,

product, Q

—

330c. All commodities

I 111 r
. industrial commodities

I t 331c. Crude materials

m

332c. Intermediate

333c. Capital equipment

334c. Finished consumer goods

1971 72

73

74

75

78

77

78

79

80

81

82 1983

1971 72

73

74

75

76

77

78

79

80

81

82 1983

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




NOVEMBER 1983

OTHER IMPORTANT ECONOMIC MEASURES
B

PRICES, WAGES, AND PRODUCTIVITY—Continued

Chart B l . Price Movements—Continued

Index: i f l N l Q

1
I
M
H

I
!»
j

H

P^^ilitl^ilJI

i-B H
1 I1

•
till
322. Foodf^g

ii1 ~fW *!>1 *m

. AM Items

• I 1—
I]
1 ,1

140120-

!

1
320c. Al items 1

,

,

100 J

I Percent change at ajMiaf ra

i span)

+20-

322c. Food ( 6 - M span)"

+ 10-

C h a r t B 2 . Wages a n d P r o d u c t i v i t y

341. Real average hour
workers, private

private nonfarm economy (current dollars)1

346. Real average hourly
nonfarm business

sector, Q (current

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

81 82

1983

'Adjusted for overtime (in manufacturing only) and interindustry employment shifts and seasonality.
Current data for these series are shown on pages 84, 87, and 88.

ECU

NOVEMBER 1983



49

O T H E R i ^ f P l ) ^ ! * w ' C'y'stt<J*A\C

^Ib^SU^

PRICES, WAGES, AND PRODUCTIVITY—Continued
Chart B2. Wages and Productivity—Continued

private nonfarm economy 1 -

+4M

i f 340c. Current-dollar earnings

+ 10-J

0-

»» averaiPiurlv compensationTal employees,

6-month spl^(ann. rate) • f\

t " ^ 3 ^ *™%^T;

Current-dolar compensation

. Keai compensation

benefit decisions, all industries-

4

first year average changes, Q (arm. r a t e ) —
Average changes over life of
contract, Q (ann, rate)
I indeicr11977 ^i^glf

hour, aH persons,
business sector, Q
an persons,
sector, Q
370c. Change in output per hour, private business sector, Q

;

°i

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

81

82 1.983

'Adjusted for overtime (in manufacturing only) and interindustry employment shifts and seasonality. 2One-month percent changes have been multiplied by a constant (12) to make them
comparable with the annualized 6-month changes. See page 87 for actual 1-month percent changes.
Current data for these series are shown on pages 87 and 88.

50




NOVEMBER 1983 K t J l

OTHER IMPORTANT ECONOMIC MEASURES
C

LABOR FORCE, EMPLOYMENT, AND UNEMPLOYMENT

Chart C l . Civilian Labor Force and Major Components

441. Civilian labor

Labor force participation rates (percent)

453. Both sexes 16-19 years of age

Number unemployed (miHions)i

37.i«alur«mploY«d

unemployed,
(millions)
448. Number employed part-time for economic

II If I
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

81

82 1983

Current data for these series *r9 shown on page 89.

BCII

NOVEMBER 1983



51

OTHER IMPORTANT ECONOMiC MEASURES
GOVERNMENT ACTIVITIES
Chart D l . Receipts and Expenditures

1958

57

58

59

60

61

62

63

%&

65

86

67

68

69

70

71

72

73

74

75

76

77

78

79

80

81

82 1983

Current data for these series are shown on page 90.

52




NOVEMBER 1983

BCII

OTHER IMPORTANT ECONOMIC MEASURES
GOVERNMENT ACTIVITIES—Continued
Chart D2. Defense Indicators
Jan Ju-y
P T

July
P

Nov.
T
302622-

18-

14-

10-

20-|
1816141230-

6-

415013011090-

70-

50-

109-

7-

5-

548. Manufacturers'
(by. dol.; MCD

1956 57

58

59

60

61

62

63

84

65

66

67

68

4-

69

70

71

72

73

74

75

76

77

78

79

80

81

82 1983

Current data for these series are shown on page 90.

NOVEMBER 1983




53

:.•,.•: : i-:.'}»4/-W:C

MEASURES

GOVERNMENT ACTIVITIES—Continued

Chart D2. Defense Indicators—Continued
.'•••i

N .

I Inter eriedtate and ftaat Measures of Defense Activity!
13012011010090-

(index: 1967=100)

70
20
18
16
14
1210-

1201101009080706050-

30-

2018161412-

580. Defense
assistance (bil.

outlays,
moving avg,

6.05.55.04.54 0-

, defense
avg.—4-tern

588. Manufacturers
(bi. doL;

3.53.02.5-

20-

1.5-

3

64

65

88

67

68

69

70

71

72

73

74

75

76

77

78

79

80

81

82

1983

Current data for these series are shown on page 9 1 .

54




NOVEMBER 1983

BCII

OTHER IMPORTANT ECONOMIC MEASURES
I£)

GOVERNMENT ACTIVITIES—Continued

Chart D2. Defense Indicators—Continued

rate and BpJtMeasures of Defense Activity—Con.
570. Employment in defei
1.51.41.2-J •
1.0-

Defense Department persoi
3.53.0-

2.5-

2.0-

578. Civilian, dir
1.5-

1.0-

0.5-

220-^

[National Defense

200180160140-

564. Federal Government
defense, Q (ann.rat

120100-

80-

60 -

40-

565. National defense burchases as a
10987654-

1956

57

58

59

60

61

62

63

84

65

66

67

68

69

70

71

72

73

74

75

76

77

78

79

SO

81

82 1983

Current data for these series are shown on page 9 1 .

BCII

NOVEMBER 1983



55

OTHER IMPORTANT ECONOMIC MEASURES
U.S. I N T E R N A T I O N A L T R A N S A C T I O N S
Chart E l . Merchandise Trade

602. Exports, excluding military|ik|> shipments
(bit. dol.; MCD moving a v B - t e r m )

. Exports of a
total (bt. dol.)
606. Exports of nonelectrical machinery (by. dol

61Z. General imports (b«. do!.; MCD moving

616. Imports of automobiles

1356

57

58

59

60

61

62

63

64

65

66

67

68

69

70

71

72

73

74

75

76

77

78

79

80

81

82 1983

Current data for these series are shown on page 92.

56




NOVEMBER 1983

OTHER IMPORTANT ECONOMIC MEASURES
U.S. INTERNATIONAL TRANSACTIONS—Continued
Chart E2. Goods and Services Movements
ian July

July

Nov

651. Income on U.S. investments

1956 57

58

59

60

61

62

63

64

65

66

87

68

69

70

71

72

73

74

75

76

77

78

79

80

81

82 1983

NOTE: Annual totals are shown for the period prior to 1960.
Current data for these series are shown on page 93.

NOVEMBER 1983



57

OThtk
F

I

IMPORTANT ECONOMIC MEASURES

INTERNATIONAL COMPARISONS

Chart F l . Industrial Production

Index: 1967 = 100
280260-

Industrial production—

240220-

728. Japan •^

200-

y

721. OECD European countries

180160-

^__

140120-

. United States

1356

57

58

59

60

61

62

63

64

65

66

67

68

69

70

71

100-

722. United Kingdom

72

73

74

75

76

77

73

79

80

81

82

1S83

Current data for these series are shown on page 94.

58




NOVEMBER 1983

ItCII

OTHER IMPORTANT ECONOMIC MEASURES
F

INTERNATIONAL COMPARISONS—Continued

Chart F2. Consumer Prices

C h a r t F 3 . S t o c k Prices

[6-month spans]

| Percent change at annual rate |

Index: 1967=100

Stock prices-

Consumer prices—

19. United States

£
6005U0-

748. Japan

/

v

r

745. West Germany
i

735c. West Germany

J

V

it

-»

+ 10-

746. France
+ 20-i

/v

1971

72

73

736c. France

74

75

76

77

78

79

80

81

82 1983

1971

72

73

74

75

76

77

78

79

80

81

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

BCII

NOVEMBER 1983



59

CYCLICAL INDICATORS
A

I

COMPOSITE INDEXES AND THEIR COMPONENTS

H H

Year
and
month

910. Index of
12 leading indicators (series
1, 5, 8, 12, 19,
20, 29, 32, 36,
99, 106, 111)

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

930. Index of
6 lagging indicators (series
62, 77, 91,
95, 101, 109)

(1967 = 100)

(1967 = 100)

(1967 = 100)

940. Ratio,
coincident
index to
lagging index

(1967 = 100)

COMPOSITE INDEXES
Leading indicator subgroups
913. Marginal
employment
adjustments
(series 1, 2, 3,
5)

914. Capital
investment
commitments
(series 12, 20,
29)

(1967 = 100)

(1967 = 100)

915. Inventory
916. Profitinvestment
ability (series
and purchasing
19, 26, 80)
(series 8, 32, 36,
99)
(1967 = 100)

917. Money
and financial
flows (series
104, 106, 111)

(1967 = 100)

(1967-100)

1

C)

1981
January
February
March

142.1

146.8
147.2
147.2

121.7

120.6

140.4
141.7

120.7
119.0

122.0
123.7

94.2
94.1
94.1

110.7
109.3
109.8

100.5
100.5
100.7

98.2
98.8
99.0

122.2
122.1
122.2

April
May . .
June

144.6
144.5
143.2

147.1
146.9
147.5

119.0
122.2
122.4

123.6
120.2
120.5

94.9
94.2
94.5

110.5
109.3
107.3

101.8

102.5
102.6

98.7
98.1
98.4

123.5
123.2
123.1

July
August
September

142.9
142.4
139.3

147.6
147.3
146.5

122.5
123.3
124.7

120.5
119.5
117.5

95.0
93.6
91.4

107.1
107.0
106.3

102.6
102.1
101.2

98.2
98.5
96.9

123.3
123.8
122.9

October
November
December

136.9
137.0
136.2

144.5
143.0
140.9

125.0
124.5
124.4

115.6
114.9
113.3

90.5
90.3
89.3

104.3
105.4
105.1

99.8
98.7
97.8

96.9
97.1
96.2

121.7
122.2
122.2

135.1
135.7
134.7

138.4
139.9
139.2

126.1
125.3
125.1

109.8
111.7
111.3

(NA)

104.2
104.2
104.0

96.7
96.5
96.6

94.5
93.2
92.6

123.3
122.1
122.2

April
May
June

136.0
136.2
135.5

138.0
138.8
137.3

125.9
125.1
124.8

109.6
111.0
110.0

104.9
104.2
102.9

96.4
97.1
97.6

93.1
93.0

92.4

123.0
122.4
122.2

July
August
September

136.2
136.1
137.5

136.4
135.2
134.5

124.3
122.3
121.4

109.7
110.5
110.8

103.9
102.9
103.4

97.8
98.1
98.3

92.6
92.4
93.9

122.5
124.5
124.2

October
November
December

138.6
139.4
140.9

132.9
132.7
132.6

120.2
118.2
116.7

110.6
112.3
113.6

104.7
105.4
107.0

98.0
97.0
96.4

95.0
95.5
96.4

122.7
122.5
122.4

145.2
147.7
150.6

134.3
133.5
134.6

115.5
115.6
114.2

116.3
115.5
117.9

106.2
107.0
107.2

97.7
99.3
101.4

97.6
98.6
100.5

127.2
129.7
131.2

April
May
June

152.6
154.4
rl57.3

135.6
137.9
139.8

113.4
110.8
rlO9.6

119.6
124.5
rl27.6

107.8
109.3
110.4

101.8
102.2
102.3

102.5
104.6
rlO5.7

130.9
129.7
131.8

July
August
September

158.2
rl58.9
160.5

rl40.8
rl40.6
143.0

109.8
rllO.6
109.9

rl28.2
rl27.1
rl3O.l

rlO9.3
rlO8.9
rlO9.9

rlO3.O
rlO4.5
rlO4.7

rlO6.7
0)rlO7.2
(NA)

0)133.1
132.9
pl30.9

H>3161.8

0>'t144.5

i>pl31.8

H>plll.4

E>plO5.O

1982
2

January
February
March

1983
January
February
March

October
Nnuomhor1

5

109.6

(NA)

IIUVCINUCI

December
NOTE: Series are seasonally adjusted except for those, indicated by ® , that appear to contain no seasonal movement. Current high values are indicated by 0 ) ; for series that move counter to movements
in general business activity, current low values are indicated b y f j ) . Series numbers are for identification only and do not reflect series relationships or order. Complete titles and sources are listed at the back
of this issue. The "r" indicates revised; "p", preliminary; "e", estimated; "a", anticipated; and "NA", not available.

Graphs of these series are shown on pages 10 and 11.
^ee "New Features and Changes for This Issue" on page iii of the February 1982 issue.
2
Includes a substitute value for series 1. See "New Features and Changes for This Issue" on page iii of the March 1982 issue.
3
Excludes series 36 and 111, for which data are not available.
^Excludes series 57, for which data are not available.
'Excludes series 77 and 95, for which data are not available.

60




NOVEMBER 1983

CYCLICAL INDICATORS
B

I

CYCLICAL INDICATORS BY ECONOMIC PROCESS

MAJOR ECONOMIC
PROCESS

Q |

Minor Economic
Process
Timing Class

Year
and
month

EMPLOYMENT AND UNEMPLOYMENT

L, L.L

L, L, L

L.C.L

1. Average
workweek of
production
workers,
manufacturing

weekly overtime
hours, production workers,
manufacturing

21. Average

(Hours)

(Hours)

2. Accession
rate, manufacturing

(Per 100 employees)

L.CL

L.L.L

L, Lg, U

L, Lg, U

5. Average
weekly initial
claims, State
unemployment
insurance'

3. Layoff rate,
manufacturing

4. Quit rate,
manufacturing

60. Ratio, helpwanted advertising to persons
unemployed

(Thous.)

o

1981

Comprehensive
Employment

Job Vacancies

Marginal Employment Adjustments

(Per 100 employees)

(Per 100 employees)

(Ratio)

U, C, C

L, Lg, U

46. Index of
help-wanted
advertising
in newspapers

48. Employeehours in nonagricultural
establishments

(1967 = 100)

(Ann. rate,
bil. hours)

(2)

(2)

January
February
March

40.3
39.8
39.9

3.0
2.9
2.9

3.5
3.5
3.4

424
410
413

1.4
1.3
1.3

1.4
1.4
1.3

0.474
0.478
0.467

128
129
125

171.56
170.07
170.79

April
May
June

40.0
40.2
40.0

2.9
3.0
2.9

3.4
3.1
3.4

395
401
405

1.1
1.3
1.3

1.3
1.3
1.4

0.447

118
118
121

169.70
170.70
170.94

July
August
September

39.9
39.9
39.5

2.9
2.9

3.4
3.2

395
421

1.0
1.4

1.5
1.3

123
119

171.19
171.09

2.7

2.9

483

1.7

1.3

0.466
0.440
0.403

112

167.31

October
November
December

39.6
39.4
39.2

2.6
2.5
2.4

2.9
3,1
2.7

517
539
551

2.2
2.3
2.2

1.2
1.1
1.1

0.378
0.366
0.346

110
111
109

169.68
168.66
168.58

January
February
March

37.5
39.5
39.0

2.3
2.5
2.3

(NA)

563
514
566

(NA)

(NA)

0.338
0.317
0.289

106
103
96

164.25
168.40
167.74

April
May
June

39.0
39.1
39.1

2.4
2.3
2.3

566
585
551

0.255
0.249
0.242

88
87
85

167.21
167.61
166.58

July
August
September

39.1
39.0
38.8

2.3
2.3
2.3

533
605
653

0.228
0.212
0.192

83
78
73

166.05
165.46
165.30

October
November
December

38.9
39.0
39.0

2.3

651
616
531

0.195
0.195
0.205

76

2.3
2.3

78
83

164.29
163.24
164.01

January
February
March

39.7
39.2
39.5

2.4

507

2.4
2.6

478
479

0.216
0.215
0.217

83
83

April
May
June

40.1
40.0
40.1

2.9

470

2.7
2.9

453
406

0.213
0.231
0.246

87
92

166.10
166.94
167.40

July
August
September

40.2
40.3
|H)r40.8

3.0
3.1
3.3

H>380
408
387

0.281
0.270
rO.277

100
97
r97

168.08
rl67.31
rl69.99

October
November
December

p40.6

DP3.3

398

B>p0.334

H>plH

E>Pl70.28

0.432
0.448

1982

1983
83

81

165.78
163.53
164.44

See note on page 60.
Graphs of these series are shown on pages 12, 16, and 17.
*Data exclude Puerto Rico, which is included in figures published by the source agency.
2
See "New Features and Changes for This Issue" (item 2) on page iii of the February 1982 issue.

NOVEMBER 1983




61

CYCLICAL INDICATORS
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued

MAJOR ECONOMIC
PROCESS

Q j

Minor Economic
Process

EMPLOYMENT AND UNEMPLOYMENT-Continued

Comprehensive Employment—Continued

Timing Class

U, C, C

42. Persons
engaged in nonagricultural
activities, labor
force survey

Year
and
month

(Thous.)

C, C, C

41. Employees
on nonagricultural payrolls,
establishment
survey

(Thous.)

L, C, U

40. Employees
in goodsproducing industries (mining, mfg., construction)
(Thous.)

Comprehensive Unemployment

U, Lg, U

90. Ratio,
civilian employment to total
population of
working age

(Percent)

L, Lg, U

L, Lg, U

Lg, Lg, Lg

Lg, Lg, Lg

43. Unemployment rate,
total

45. Average
weekly insured unemployment rate,
State programs'

91. Average
duration of
unemployment

44. Unemployment rate,
persons unemployed 15

(Percent)

(Weeks)

L, Lg, U

37. Number of
persons unemployed, labor
force survey

(Thous.)

(Percent)

weeks and over

(Percent)

1981
January
February
March

96,544
96,803
97,148

90,920
90,990
91,030

25,600
25,516
25,579

58.38
58.43
58.58

8,048
8,032
7,967

7.5
7.4
7.3

3.5
3.4
3.4

14.3
14.0
13.9

2.2
2.2
2.1

April
May
June

97,487
97,597
97,033

91,128
91,131
91,322

25,530
25,503
25,654

58.80
58.72
58.31

7,860
8,133
8,047

7.2
7.5
7.4

3.3
3.3
3.2

13.7
13.5
14.1

2.0
2.0
2.1

July
August
September

97,428
97,313
96,746

91,484
91,424
91,411

25,720
25,653
25,586

58.44
58.36
57.94

7,854
8,053

8,271

7.2
7.4
7.6

3.2
3.2
3.3

14.0
14.3
13.6

2.0
2.0
2.1

October
November
December

96,981
96,840
96,458

91,295
91,041
90,730

25,445
25,242
24,992

58.02
57.88
57.51

8,673
9,025
9,389

8.0
8.3
8.6

3.5
3.8
4.1

13.5
13.2
12.9

2.1
2.2
2.2

January
February
March

96,309
96,328
96,230

90,396
90,417
90,207

24,711
24,670
24,483

57.46
57.41
57.29

9,346
9,669
9,881

8.6
8.8
9.0

4.1
4.1
4.3

13.4
14.0
13.9

2.2
2.5
2.7

April
May
June

96,128
96,548
96,310

90,024
90,016
89,775

24,307
24,226
24,001

57.17
57.40
57.17

10,256
10,384
10,465

9.3
9.4
9.5

4.5
4.5
4.5

14.3
14.9
16.3

2.8
3.0
3.2

July
August
September

96,143
96,254
96,180

89,450
89,264
89,235

23,843
23,672
23,530

57.06
57.06
56.92

10,828
10,931
11,315

9.8
9.9

10.2

4.5
4.7
5.0

15.6
16.1
16.6

3.2
3.3
3.5

October
November
December

95,763
95,670
95,682

88,938
88,785
88,665

23,287
23,131
23,061

56.65
56.57
56.50

11,576
11,906
12,036

10.5
10.7
10.8

5.2
5.2
5.0

17.1
17.3
18.0

3.8
4.1
4.3

January
February
March

95,691
95,670
95,729

88,885
88,746
88,814

23,186
23,049
23,030

56.46
56.38

11,446
11,490

EC OC
DO . JO

1 1 ^Rl
11, ool

10.4
10.4
10.3

4.5
4.5
d &
H.H

19.4
19.0
19.1

4.2
4.2
4.2

April
May
June

96,088
96,190
97,264

89,090
89,421
89,844

23,159
23,347
23,518

56.51
56.52
57.16

11,328
11,192
11,146

10.2
10.1
10.0

4.4
4.1
3.8

19.0
20.4
22.0

3.9
4.1
4.1

July
August
September

97,758
98,074
98,655

90,152
89,735
r90,753

23,724

r23,830
r23,943

57.39
57.49
1)57.66

10,590
10,699
10,423

9.5
9.5
9.3

3.6
3.4
3.3

21.7
19.9
20.2

3.9
3.6
3.4

E>98,726

[H)p91,073

DP24,167

57.59

R9,886

1)8.8

E>p3.3

20.1

E>3.2

1982

1983

October
IMnv/pmhpr
l i U V v l l l U C I

•

•

>

.

.

.

.

December
See note on page 60.
Graphs of these series are shown on pages 14, 15, 17, and 18.

*Data exclude Puerto Rico, which is included in figures published by the source agency.

62




NOVEMBER 1983

CYCLICAL INDICATORS
B

I

CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued

MAJOR ECONOMIC
PROCESS

Q |

Minor Economic
Process
Timing Class

Year
and
month

PRODUCTION AND INCOME
Industrial Production

Comprehensive Output and Income
C.C.C

50. Gross national product
in 1972 dollars

C, C, C

C, C,C

52. Constant
(1972) dollars

51. Personal
income, less
transfer payments, in 1972
dollars

(Ann. rate,
bil. dol.)

(Ann. rate,
bil. dol.)

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

Persona income

223. Current
dollars
(Ann. rate,
bil. dol.)

C, C, C

(Ann. rate,
bil. dol.)

C, C, C

47. Index of
industrial
production,
total

(1967 = 100)

C, C, C

73. Index of
industrial
production,
durable manufactures

(1967-100)

C, L, L

74. Index of
industrial
production,
nondurable
manufactures
(1967 = 100)

c, c, c

49. Value of
goods output
in 1972 dollars

(Ann. rate,
bil. dol.)

1981

1,233.0
1,236.2
1,240.9

1,061.3
1,065.0
1,069.1

234.0
230.8
231.5

151.4
151.8
152.1

141.0

140.8
142.1

165.6
166.2
165.3

69L2

2,375.1
2,390.6
2,416.9

1,241.6

1,242.5
1,251.6

1,070.8
1,072.5
1,081.1

231.6
231.3
232.2

151.9
152.7
152.9

142.5
143.5
143.2

165.9
166.4
165.8

692 '.3

I,525l8

2,463.7
2,494.6
2,514.3

1,266.0
1,274.7
1,274.4

1,088.7
1,098.3
1,098.4

231.7
231.0
228.3

153.9
153.6
151.6

143.6
143.4
140.9

167.1
167.3
165.9

703.2

1,506^9

2,513.4
2,518.7
2,517.6

1,268.1
1,263.8
1,257.5

1,092.6
1,087.6
1,081.1

227.6
225.3
222.5

149.1
146.3
143.4

137.8
134.4
131.3

162.8
160.3

January
February
March

2,518.1
2,530.2
2,535.8

1,249.1
1,255.7
1,256.0

1,074.6

223.0

1,485.*8

1,080.0
1,078.7

223.8
222.7

140.7
142.9
141.7

127.1
129.3
128.2

155.1
157.8
157.3

668.'i

April
May
June

1,489^3

2,549.0
2,568.0
2,572.5

1,258.1
1,263.8
1,254.3

1,079.3
1,084.3
1,076.0

221.6
220.2
217.4

140.2
139.2
138.7

126.7
126.1
125.5

156.1
155.0
155.3

664^6

July
August
September

1,485*.7

2,589.8
2,586.7
2,597.4

1,256.0
1,250.8
1,251.2

1,072.2
1,067.5
1,066.6

215.5
213.3
211.9

138.8
138.4
137.3

125.9
124.9
123.5

155.7
156.9
156.7

661.6

October
November
December

1,48CL7

2,617.8
2,633.1
2,645.0

1,253.7
1,259.9
1,264.9

1,065.6
1,068.0
1,072.2

208.9
207.9
208.6

135.7
134.9
135.2

120.3
119.3
119.9

156.2
155.3
155.6

652.1

January
February
March

l,496!l

2,652.6
2,650.5
2,670.1

1,264.3
1,262.1
1,269.1

1,075.9
1,072.6
1,078.0

212.3
212.3
213.0

137.4
138.1
140.0

122.5
123.9
126.3

157.4
159.0
160.7

656.9

April
May
June

l,525."i

2,689.0
2,719.3
2,732.6

1,267.8
1,278.5
1,285.3

1,077.9
1,087.3
1,094.0

214.8
215.7
217.6

142.6
144.4
146.4

129.1
131.0
133.2

163.3
165.4
167.8

681*8

i>rl,553!6

r2,747.1
r2,756.6
r2,786.1

rl,286.7
rl,285.1
rl,294.1

rl,097.7
rl,097.6
rl,107.2

219.1
r219.7
r221.1

rl49.7
T151.7
rl53.6

136.8
rl38.7
rl41.6

rl70.6
rl72.5
rl73.9

(H)r700.7

[H>p2,818.9

S)pl,303.2

i>pl,116.9

H>p221.8

H>pl54.8

H>pl43.5

H>pl74.6

2,316.9

January
February
March

I,5l6!l

2,336.5
2,361.4

April
May
June

1,512*.5

July
August
September
October
November
December

683! 7

157.4

1982

1983

July
August
September
October
NjnwpmKpr
IIUVCIIIUCI

December

See note on page 60.
Graphs of these series are shown on pages 14, 19, 20, and 40.

NOVEMBER 1983



63

CYCLICAL INDICATORS
B

I

CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued

MAJOR ECONOMIC
PROCESS

0 1

Minor Economic
Process

Capacity Utilization

Timing Class

Year
and
month

Q

PRODUCTION AND INCOME-Continued

L, C, U

83. Rate of
capacity
utilization,
manufacturing
(BEA)

82. Rate of
capacity
utilization,
manufacturing
(FRB)

(Percent)

(Percent)

CONSUMPTION, TRADE, ORDERS, AND DELIVERIES

Orders and Deliveries

L,C, U

84. Rate of
capacity
utilization,
materials

(Percent)

L, L, L

L, L,L

L, L, L

L, Lg, U

7. Constant
(1972) dollars

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

25. Change in
unfilled orders,
durable goods
industries

96. Manufacturers' unfilled
orders, durable
goods industries

(Bil. dol.)

(Bil. dol.)

(Bil. dol.)

(Bil. dol.)

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

L, L, L

I L, L

32. Vendor
performance,
companies receiving slower
deliveries (u)
(Percent
reporting)

1981
January
February
March

80*. 6

82*. 7

83.17
83.54
83.77

38.52
38.54
38.41

33.31
34.50
34.15

1.13
0.93
-0.30

316.32
317.25
316.95

46
50
52

80.8

8l'.9

87.38
88.31
88.20

39.72
39.92
39.61

34.92
35.29
35.16

1.92
2.37
0.86

318.87
321.23
322.09

56
52
48

80.3

82*16

86.94
85.84
83.38

38.83
38.15
36.94

34.45
33.44
32.48

0.84
-0.32
-0.67

322.93
322.61
321.94

48
43

75.9

76.2

78.47
79.03
76.11

34.65
34.66
33.34

31.00.
30.22
30.50

-3.33
-1.84
-3.43

318.61
316.77
313.34

38
32
30

72.9

73.6

76.70
77.36
78.18

33.54
33.82
34.12

29.18
29.45
30.55

0.23
-1.17
-0.55

313.57
312.40
311.85

32
36
35

71*6

70*17

76.74
76.35
76.16

33.44
33.15
32.93

29.30
30.77
30.29

-1.07
-3.33
-3.04

310.78
307.45
304.41

31
30
38

71*6

69*.4

75.56
72.96
72.35

32.63
31.49
31.14

30.29
29.60
29.62

-3.29
-4.28
-4.07

301.12
296.83
292.76

37
40
40

69*16

67.1

70.74
71.07
76.18

30.42
30.45
32.57

27.91
28.22
28.25

-1.74
-1.94
2.68

291.02
289.08
291.76

44
40
38

70.1 i

82.36
77.45
79.95

35.28
32.93
33.98

31.54
31.52
31.90

4.61
-0.32
0.36

296.37
296.05
296.41

41

70.7

73.8

73*5

83.10
84.46
90.90

35.30
35.71
r38.20

32.03
33.91
r34.19

2.86
1.78
4.32

299.27
301.05
305.37

52
52
52

E>77'3

©77.'4

88.23
89.98
r91.00

37.04
37.68
r38.15

34.86
[H>r35.98
r35.27

2.59
2.06
r2.02

307.96
310.02
r312.05

52
61
60

B)p93.73

H)p39.30

P35.33

Dp5.65

H>P317.70

0)64

*78

April
May
June

78

July
August
September
October
November
December

*76

*72

46

1982
January
February
March

*72

April
May
June

"n

July
August
September
October
November
December

*69

*68

1983
January
February
March
April
May
June
July
August
September

70

E>p73

(NA)

October
November
December
See note on page 60.
Graphs of these series are shown on pages 12, 20, and 21.

64




NOVEMBER 1983

42
50

CYCLICAL INDICATORS
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued

MAJOR ECONOMIC
PROCESS

j ^ g

Minor Economic
Process
Timing Class

C, C, C

C, C, C

56. Current
dollars

(Mil. dot.)

57. Constant
(1972) dollars

(Mil. dol.)

C, L, C

75. Index of industrial production, consumer
goods

(1967 = 100)

C L, U

U, L, U

Sales of retail stores
54. Current
dollars
(Mil. dol.)

FIXED CAPITAL
INVESTMENT

Formation of Business Enterprises

Consumption and Trade

Manufacturing and trade sales
Year
and
month

• •
l i l

CONSUMPTION, TRADE, ORDERS, AND DELIVERIES—Continued

59. Constant
(1972) dollars

(Mil. dol.)

ICC

55. Personal
consumption
expenditures,
automobiles

(Ann. rate,
bil. dol.)

L, L, L

58. Index of
consumer,
sentiment ©

(1st Q
1966 = 100)

L, L, L

12. Index of
net business
formation

(1967 = 100)

L, L, L

13. Number of
new business
incorporations

(Number)

1981
January
February
March

355,151
355,316
356,688

162,132
161,645
161,661

146.9
147.8
148.3

85,355
86,058
86,978

45,547
45,678
45,802

73.2

April
May
June

358,809
359,239
360,912

162,252
161,594
162,371

148.9
150.7
150.3

86,746
86,939
87,948

45,488
45,328
45,735

July
August
September

360,189
360,384
357,454

161,262
160,902
159,032

150.7
149.6
147.8

87,759
88,775
88,562

October
November
December

352,092
349,712
345,958

156,389
155,558
153,354

146.5
144.0
142.0

January
February
March

340,746
345,687
347,061

150,871
153,723
154,188

April
May
June

344,934
353,110
349,742

July
August
September

347,676
343,426
342,882

71.4
66.9
66.5

121.6
120.7
120.8

46,039
48,588

72.4
76.3
73.1

121.9

66.*4

119.1
117.3

49,413
48,997
49,172

45,377
45,737
45,300

73^7

74.1
77.2
73.1

118.2
118.7
117.6

49,038
48,631
48,450

87,231
87,358
87,409

44,506
44,412
44,303

64*.6

70.3
62.5
64.3

114.8
117.4
115.2

47,947
49,413
47,556

139.6
141.8
141.5

86,542
88,049
87,701

43,576
44,492
44,293

7O.*4

71.0
66.5
62.0

113.2
115.6
113.5

43,330
47,234
46,899

152,619
155,866
153,409

142.1
143.6
144.8

88,468
90,813
88,603

44,636
45,635
44,103

7l!i

65.5
67.5
65.7

115.2
114.7
112.1

46,876
46,995
45,936

152,957
151,770
151,184

145.8
144.1
143.4

89,469
89,069
89,897

44,401
44,181
44,526

74.*6

65.4
65.4
69.3

112.4
110.4

44,525
46,981
45,552

79.7

73.4
72.1
71.9

111.5
112.9
114.4

45,530
48,474
0)57,507

47,972

1982

336,905
338,722
338,391

148,456
149,877
149,959

142.2
141.3
142.0

90,905
92,492
92,459

44,847
45,720
45,749

January
February
March

345,337
341,490
348,009

153,884
152,079
154,416

143.6
143.4
144.3

92,308
91,164
93,263

45,562
45,108
45,988

80.7

70.4
74.6
80.8

111.4
113.3
112.7

49,999
48,296
48,032

April
May
June

351,100
363,925
373,572

155,086
160,627

95,449
98,431
99,173

46,812
48,133
B>48,448

91.*4

0)164,405

147.7
150.4
152.4

89.1
93.3
92.2

112.0
114.8

48,903
50,211
50,992

372,434
r374,434
[R>p380,028

rl62,744
rl63,112
pl64,312

rl54.8
rl56.1
rl57.8

99,521
r97,801
r99,lll

48,429
r47,430
r47,949

[H> r 94*. 3

0)93.9
90.9
89.9

rll5.2
rll4.4
rll7.3

(NA)

(NA)

H>Pl58.2

[H)pl00,175

p48,324

89.3

0>pl2O.4

October
November
December
1983

July
August
September
October
Mnwpmhpr
iiuvcniuci

116.4

p48,601
(NA)

.

December

See note on page 60.
Graphs of these series are shown on pages 12, 14, 22, and 23.

NOVEMBER 1983



65

CYCLICAL INDICATORS
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued

MAJOR ECONOMIC
PROCESS

Q |

Minor Economic
Process
Timing Class

Business Investment Commitments

L, L, L

L, L, L

Contracts and orders for plant
and equipment
Year
and
month

FIXED CAPITAL INVESTMENT—Continued

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

L, I L

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

9. Construction contracts for commercial and industrial buildings1
Square feet of
floor space
(Millions)

Square meters of
floor space2
(Millions)

U, Lg, U

C, Lg, Lg

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

97. Backlog of
capital appropriations, 1,000
manufacturing
corporations

(Bil. dol.)

(Bil. dol.)

1981
January
February
March

28.66
26.59
27.76

14.60
13.63
13.98

25.02
22.70
23.99

13.00
11.92
12.33

83.72
83.86
83.79

7.78
7.79
7.78

27 '.70

April
May
June

30.56
28.61
28.96

15.14
14.28
14.47

26.00
24.56
24.62

13.16
12.52
12.58

79.64
84.75
81.01

7.40
7.87
7.53

28'.06

July
August
September

28.12
28.14
27.98

13.72
14.24
14.26

24.16
24.74
24.36

12.00
12.77
12.70

73.46
78.67
68.12

6.82
7.31
6.33

26.71

October
November
December

27.09
27.82
25.58

13.60
14.48
12.87

22.66
24.30
21.05

11.68
12.96
10.92

74.26
70.77
70.65

6.90
6.57
6.56

23! 04

January
February
March

26.77
29.36
25.94

13.22
14.44
13.14

21.86
22.41
21.71

11.14
11.45
11.30

58.18
63.29
61.15

5.40
5.88
5.68

25.18

April
May
June

26.23
23.99
23.41

14.05
11.81
11.36

22.81
20.31
19.93

12.59
10.23
9.86

58.93
53.71
64.87

5.47
4.99
6.03

2o!o2

July
August
September

23.42
22.83
r24.28

11.32
11.24

rl2.13

19.93
18.74
20.22

9.84
9.47
10.36

57.80
59.78
55.95

5.37
5.55
5.20

18.44

October
November
December

r23.43
23.63
24.37

rll.94
11.52
12.77

20.13
19.98
19.68

10.53
9.94
10.75

54.65
50.69
49.55

5.08
4.71
4.60

21*. 49

January
February
March

23.35
24.21
23.80

11.79
11.76
12.70

20.51
19.18
20.03

10.58
9.62
11.09

66.89
57.77
52.65

6.21
5.37
4.89

20.18

April
May
June

26.49
28.66
27.69

13.85
14.38
14.48

22.59
22.23
24.29

12,20
11.63
13.01

54.32
61.20
65.40

5.05
5.69
6.08

p20.96

25.10
26.76
r29.00

12.53
13.43
H>rl5.50

21.58
23.03
r25.21

11.02
11.82

E)rl3.87

61.78
65.26
69.20

5.74
6.06
6.43

(NA)

[H>p30.58

pl5.44

E)P26.42

pl3.65

H>71.35

D6.63

93'.44

96!l8

97! 07

92'.46

1982

90.20

82.88

74ll5

70.76

1983

July
August
September
October
Nnwomhor
MUVCIIIUCI

70.04

p71.36

(NA)

December
See note on page 60.
Graphs of these series are shown on pages 12, 23, and 24.
x
This is a copyrighted series used by permission; it may not be reproduced without written permission from McGraw-Hill Information Systems
Company, F.W. Dodge Division.
Converted to metric units by the Bureau of Economic Analysis.

66




NOVEMBER 1983

ItCII

CYCLICAL INDICATORS
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued

MAJOR ECONOMIC
PROCESS

m

Minor Economic
Process
Timing Class

Year
and
month

FIXED CAPITAL INVESTMENT—Continued
Residential Construction
Commitments and Investment

Business Investment Expenditures
C Lg, Lg

C Lg, Lg

C Lg, U

61. Business
expenditures
for new plant
and equipment,
total

69. Machinery
and equipment
sales and business
construction
expenditures

76. Index of
industrial production, business
equipment

(Ann. rate,
bil. dol.)

(Ann. rate,
bil. dol.)

(1967 = 100)

C Lg, C

Lg, Lg, Lg

C Lg, C

Nonresidentia fixed investment in 1972 dollars
86. Total
(Ann. rate,
bil. dol.)

87. Structures
(Ann. rate,
bil. dol.)

88. Producers'
durable equipment
(Ann. rate,
bil. dol.)

L, L, L

28. New
private housing
units started,
total
(Ann. rate,
thous.)

L, L, L

29. Index of
new private
housing units
authorized by
local building
permits
(1967 = 100)

L, L, L

89. Residential
fixed investment, total, in
1972 dollars
(Ann. rate,
bil. dol.)

1981
January
February
March

311.*95

333.32
331.22
343.78

177.7
177.5
179.3

170.'9

5o!i

120.8

1,588
1,279
1,305

98.6
96.8
95.6

4&\8

April
May
June

316*.42

346.11
345.55
353.96

181.0
182.0
183.6

173*.4

5l!6

121.7

1,332
1,150
1,047

96.1
94.7
78.8

47*. 3

July
August
September

328*. i9

350.15
359.04
360.03

184.8
184.4
182.7

177!6

5^5

123.5

1,035
949
900

75.5
71.8
68.4

43!i

October
November
December

329.*43

349.75
357.85
353.04

180.5
179.0
179.0

176\3

54!6

ui'.8

866
839
906

59.0
60.4
64.3

39!4

January
February
March

326!%

334.30
344.06
343.89

172.2
171.6
169.0

173!o"

5^3

11^3

877
911
920

64.6
66.2
71.3

36\3

April
May
June

32L87

328.44
334.75
332.35

164.9
159.9
156.7

167! 1

54.6

113.1

911
1,028
910

71.1
76.8
74.6

3^8

July
August
September

313!76

326.06
316.23
320.13

154.9
153.9
150.5

162L3

53.6

n6!3

1,185
1,046
1,134

86.0
75.0
83.1

36'.5

October
November
December

303 A8

308.63
310.31
310.02

147.1
146.4
148.1

160! 5

52!2

108 .*3

1,142
1,361
1,280

93.2
99.1
107.1

46!6

January
February
March

293!63

307.70
300.14
314.18

146.6
142.7
143.7

15^9

5O.*3

109.'6

1,694
1,784
1,605

116.9
119.5
118.5

45.5

April
May
June

293." 46

312.41
305.68
332.43

146.9
147.7
150.2

163.6

4&\3

114.*7

1,506
1,807
1,736

124.1
132.1
142.2

52.*6

July
August
September

a313.*04

318.94
r321.28
0>p334.91

rl53.3
rl56.5
rl58.8

H>rl69'.3

r49*.4

E>rll9'.9

1,804
H>rl,904
rl,672

D143.9
133.4
121.6

{H>r56*.2

October
November
December

(NA)

H)pl62.3

pi,608

131.7

a326.*73

1982

1983

See note on page 60.
Graphs of these series are shown on pages 13, 24, and 25.

NOVEMBER 1983



67

CYCLICAL INDICATORS
B

I

CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued

B

MAJOR ECONOMIC
PROCESS
Minor Economic
Process

Inventories on Hand and on Order

Inventory Investment

Timing Class

Year
and
month

INVENTORIES ANC INVENTORY INVESTMENT

L, L, L

L, L, L

L, L, L

L, L, L

30. Change in
business inventories in 1972
dollars

36. Change in inventories on
hand and on order, 1972 dollars

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

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

(Ann. rate,
bil. dol.)

Monthly
data
(Ann. rate,
bil. dol.)

Smoothed
data1
(Ann. rate,
bil. dol.)

(Ann. rate,
bil. dol.)

(Bil. dol.)

Lg. Lg, Lg

Lg, Lg, Lg

Manufacturing and trade
inventories
71. Current
dollars

(Bil. dol.)

70. Constant
(1972) dollars

(Bil. dol.)

Lg Lg, Lg

Lg, Lg, Lg

L, Lg, Lg

65. Manufacturers' inventories of
finished
goods, book
value

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

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

(Bil. dol.)

(Ratio)

(Bil. dol.)

1981
January
February
March

3*.6

-12.56
17.52
-8.77

-5.23
-3.72
-0.75

38.6
61.4
20.7

1.36
0.32
-0.38

496.10
501.21
502.94

263.85
265.04
264.56

79.89
81.01
82.63

1.63
1.64
1.64

222.56
222.88
222.50

April
May
June

8.9

-5.57
25.49
1.01

-0.10
2.39
5.35

23.1
44.3
37.6

1.26
1.66
1.27

504.87
508.56
511.70

264.42
266.30
266.20

82.96
84.65
85.30

1.63
1.65
1.64

223.77
225.42
226.70

July
August
September

16*. i

4.67
4.52
11.65

8.68
6.90
5.17

27.6
53.8
46.9

1.05
-1.10
0.75

514.00
518.48
522.39

266.72
267.72
269.30

85.50
87.08
88.30

1.65
1.66
1.69

227.75
226.65
227.40

October
November
December

6*.6

-9.35
2.18
-20.83

4.61
1.88
-3.92

21.3
35.9
-12.1

-3.01
-1.78
-1.05

524.17
527.16
526.15

269.65
270.78
269.42

89.34
90.00
89.55

1.72
1.74
1.76

224.39
222.61
221.56

-1CL2

-26.62
-23.18
-10.81

-12.21
-19.32
-21.87

-30.1
-28.3
-10.2

-1.87
-2.82
-1.88

523.65
521.29
520.44

267.83
266.93
266.28

89.14
89.78
89.90

1.78
1.74
1.73

219.69
216.87
214.99

April
May
June

-3.4

-4.87
-24.35
-7.56

-16.58
-13.15
-12.80

35.2
-51.0
23.1

-2.08
-2.03
-3.18

523.37
519.12
521.04

267.04
265.27
265.88

89.19
88.32
87.56

1.75
1.70
1.73

212.91
210.88
207.70

July
August
September

-L*3

0.37
-16.70
-1.50

-11.39
-9.24
-6.95

1.3
1.3
-3.1

-1.57
-2.12
-2.45

521.14
521.26
521.00

266.21
265.79
266.01

88.22
88.30
87.79

1.74
1.75
1.76

206.13
204.01
201.56

October
November
December

-22^7

-20.08
-38.14
-11.29

-9.35
-16.33
-21.54

-14.4
-70.9
-23.4

-1.94
-1.85
-1.69

519.80
513.89
511.94

264.90
262.12
261.21

87.61
86.40
85.07

1.78
1.75
1.74

199.62
197.77
196.07

-15^4

-16.13
6.86
-15.96

-22.51
-14.35
-7.63

-52.7
1.4
-53.3

0.79
1.00
0.71

507.55
507.66
503.22

259.22
259.42
257.57

83.78
83.29
82.41

1.68
1.71
1.67

196.86
197.87
198.57

-0.88
12.79

r-1.85

-5.87
-2.34
rl.00

18.9
10.3
-1.6

0.13
1.39
1.92

504.80
505.66
505.52

257.22
257.55
257.05

82.04
82.12
81.93

1.66
1.60
1.56

198.70
200.09
202.02

rl4.12
[H)r26.06
p22.5O

r5.85
rlO.56
|H)pl6.84

3.7

2.23

0>r3.43
pi. 59

505.83
r510.43
[R>p513.82

r256.96
r258.03
p259.27

82.49
r82.62
p82.09

1.58

0>r55.2
p40.7

rl.58
p i . 58

204.25
r207.68
0>P2O9.27

(NA)

(NA)

(NA)

(NA)

(NA)

(NA)

(NA)

(NA)

(NA)

1QOO

January
February
March

1983
January
February
March
April
May
June
July
August
September
October
November
December

-5.*4

H>r3".9

See note on page 60.
Graphs of these series are shown on pages 13, 15, 26, and 27.
1
This series is a weighted 4-term moving average (with weights 1,2,2,1) placed on the terminal month of the span.




NOVEMBER 1983

CYCLICAL INDICATORS
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued

MAJOR ECONOMIC
PROCESS

j Q

Minor Economic
Process
Timing Class

Year
and
month

Stock
Prices

Sensitive Commodity Prices
L, L, L

98. Change in
producer prices
for 28 sensitive
materials

(Percent)

L, L, L

U, L, L

23. Index of
spot market
prices, raw
industrialsl

(1967 = 100)

PRICES, COSTS, AND PROFITS

L, L, L

99. Change in sensitive materials
prices
Smoothed
data 2

Monthly
data

(Percent)

(Percent)

19. Index of
stock prices,
500 common
stocks ®

(1941-43 = 10)

Profits and Profit Margins
L, L, L

L, L, L

Corporate profits after taxes
16. Current
dollars

18. Constant
(1972) dollars

L, C, L

L, C, L

Corporate profits after taxes
with IVA and CCAdj3
79. Current
dollars

80. Constant
(1972) dollars

L, L, L

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

(Ann. rate,
bil. dol.)

(Ann. rate,
bil. dol.)

(Ann. rate,
bil. dol.)

(Ann. rate,
bil. dol.)

(Percent)

1981
-1.81
-2.50
0.64

291.6
284.2
289.8

-1.60
-2.08
0.92

0.16
-0.80
-1.15

132.97
128.40
133.19

152.2

79.1

103.1

53.8

9.0

0.94
0.10
0.30

293.0
288.9
282 9

0.83
-0.37
-0.45

-0.52
0.17
0.23

134.43
131.73
132 28

138.6

70.2

104^6

53L5

8'.1

July
August
September

-1.19
-1.34
-2.37

286.6
289.5
283.0

-0.25
-0.41
-1.91

-0.18
-0.36
-0.61

129.13
129.63
118.27

144!6

72!6

113.*8

57.'2

s!i

October
November
December

-1.08
-2.18
-0 72

277.2
270.5
264 2

-1.14
-1.88
-1 05

-1.00
-1.40
-1 50

119.80
122.92
123 79

14L7

69^4

116\5

57.*4

7.*7

January
February
March

0.87
-1.40
-0.22

263.4
261.0
254.5

0.35
-0.97
-0.89

-1.11
-0.71
-0.53

117.28
114.50
110.84

112*.9

55!3

ioi!7

49.9

6\2

April
May
June

-0.76
0.11
0.29

247.4
245.5
232.2

-1.21
-0.18
-1.45

-0.76
-0.89
-0.85

116.31
116.35
109.70

117.4

56.8

105.3

51.1

6.4

July
August
September

-0.33
-2.46
-0.26

237.0
236.2
239.0

0.41
-1.38
0.19

-0.68
-0.61
-0.53

109.38
109.65
122.43

116\5

56.0

107.6

51.*9

6*.4

October
November
December

-0.23
-0.57
0.34

235.5
230.4
227.4

-0.51
-0.93
-0.24

-0.41
-0.49
-0.49

132.66
138.10
139.37

113*.5

54^2

107^9

bi'.'e

6!6

2.80
3.28
2.25

232.1
241.3
248.8

2.08
H>2.87
2.07

-0.13
0.94
1.96

144.27
146.80
151 88

108.2

51.7

120.3

57.5

5.8

-0.42
2.10

E>r3.29

253.2
251.5
250.5

0.31
0.92
rl.57

l>2.04
1.42
rl.02

157.71
164.10
166.39

12^2

60.6

142.2

67.9

6.7

July
August
September

r-0.56
1.20
-1.06

256.0
265.2
267.9

r0.34
1.67
-0.25

r0.94
1.07
r0.89

166.96
162.42
167.16

H)pl4i'.9

@>P67.4

H>pl60.9

H>p76.7

H>p7.3

October
November
December

0.70

0)273.4
"279.6

0.97

0.69

D167.65
'165.46

January
February
March
April
May
June

1982

1983
January
February
March .
April
May
June

See note on page 60.
Graphs of these series are shown on pages 13, 28, and 29.
beginning with June 1981, this series is based on copyrighted data used by permission; it may not be reproduced without written permission from Commodity Research Bureau, Inc. 2See footnote 1 on page 68. 3IVA, inventory valuation adjustment; CCAdj, capital consumption
adjustment.
*Average for November 1 through 23. 5Average for November 2, 9, 16, and 23.

NOVEMBER 1983



69

CYCLICAL INDICATORS
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued

MAJOR ECONOMIC
PROCESS

WM

Minor Economic
Process

U, L, L

L, L, L

81. Ratio,
profits (after
taxes) with IVA
and CCAdj to
corp. domestic
income'

15. Profits (after
taxes) per dollar
of sales, all
manufacturing
corporations

Year
and
month

(Percent)

(Cents)

Unit Labor Costs and Labor Share

Cash Flows

Profits and Profit Margins—Continued

Timing Class

PRICES, COSTS, AND PROFITS—Continued

L, L, L

L, L, L

L, L, L

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

(1977 = 100)

(Ann. rate,
bil.dol.)

(Ann. rate,
bil.dol.)

Lg, Lg, Lg

Lg, Lg, Lg

63. Index of
unit labor cost,
private business
sector

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

(1977 = 100)

(Dollars)

Lg, Lg, Lg

Lg, Lg, Lg

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

(1967 = 100)

Actual data
as a percent
of trend
(Percent)

64. Compensation of employees as a percent
of national
income

(Percent)

1981
5.5

4*.9

97*.8

271.7

138.6

139*6

1.272

202.4
201.8
203.4

100.8
99.8
99.9

74*9

5*7

5.'6

97.7

263.1

130*2

140*7

1.290

205.2
206.2
207.9

100.1
99.9
100.0

74.9

July
August
September

6.'i

4*8

98.8

273.1

132*8

14213

1.306

207.8
208.7
211.1

99.3
99.0
99.5

73.*9

October
November
December

6.'6

4*4

98.1

277.5

132.'2

146*4

1.342

215.2
218.1
220.7

100.7
101.4
101.9

74*5

January
February
March

5*5

3*9

96.8

255.1

121*1

149*9

1.374

226.9
224.2
224.5

104.1
102.2
rlO1.6

75.8

April
May
June

5.*6

3.6

96.5

266.3

124*9

152 .*9

1.394

226.9
229.1
229.6

102.1
102.4
102.0

75.9

July
August
September

5.8

3*5

95.9

272.4

126.*9

154.7

1.403

228.6
227.7
228.2

100.9
r99.8
99.4

76.4

October
November
December

5*6

2*8

95*8

275.*5

127.*9

155.*6

1.43.9

229.3
230.4
230.7

99.3
99.1
98.6

76.4

January
February
March

6.5

3.*3

96.3

278.9

130*3

E>156.*9

H>1.428

231.8
231.1
229.6

r98.4
97.5
96.3

76.1

April
May
June

7.*6

H>p4.'o

97.6

310.6

145.9

156*2

1.416

228.4
227.6
226.3

95.2
94.2
93.1

75*3

H>p8.5

(NA)

(H>p98.3

0>p338.9

E)pl59.2

P156.5

pi.411

r224.0
r222.9
r222.1

r91.6
r90.5
r89.6

p74.9

p221.5

p88.8

January
February
March
April
May
June

>» . . .

1982

1983

July
August
September
October
November
December

See note on page 60.
Graphs of these series are shown on pages 15, 29, and 30.
X
IVA, inventory valuation adjustment; GCAdj, capital consumption adjustment.

70




NOVEMBER 1983

CYCLICAL INDICATORS
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued

MAJOR ECONOMIC
PROCESS

Q j

Minor Economic
Process
Timing Class

Year
and
month

MONEY AND CREDIT

Money
L, L, L

85. Change in
money supply
(Ml)

L, L, L

L, C, U

102. Change
in money
supply (M2)

(Percent)

(Percent)

L, L, L

104. Change in total liquid assets
Smoothed
data1

Monthly
data

(Percent)

Credit Flows

Velocity of Money

(Percent)

L, L, L

105. Money
supply (Ml)
in 1972
dollars

106. Money
supply (M2)
in 1972
dollars

(Bil. dol.)

(Bil. dol.)

C, Lg, C

L, L, L

108. Ratio,
personal income
to money supply
(M2)

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

C, C, C

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

(Ratio)

(Ratio)

1981
January
February
March

0.63
0.77
1.10

0.49
0.85
1.20

1.07
1.05
0.66

0.89
0.96
0.95

199.9
199.9
200.5

785.9
786.5
789.7

6.819

1.414
1.414
1.412

55.82
60.60
46.93

April
May
June

1.22
0.00
0.05

0.87
0.43
0.71

0.46
1.00
1.19

0.82
0.72
0.80

202.1
200.4
198.9

793.2
789.8
789.3

6.776

1.408
1.411
1.417

54.62
42.05
47.48

July
August
September

0.49
0.44
-0.09

0.86
1.23
0.59

0.97
1.36
0.94

0.97
1.11
1.13

197.6
196.8
194.7

787.1
790.1
786.7

6.938

1.432
1.432
1.435

60.85
34.20
26.76

October
November
December

-0.05
0.60
1.08

0.69
0.95
0.80

0.93
1.02
0.64

1.08
1.02

789.3
793.1
796.4

6.945

0.91

193.9
194.2
195.5

1.425
1.415
1.403

22.79
21.66
5.14

January
February
March

1.63
0.04
0.13

0.85

0.31
0.72

0.85
0.90
0.92

0.85
0.82
0.84

198.1
198.1
198.4

800.9
802.8
808.9

6.743

1.391
1.393
1.387

22.08
16.39
3.53

April
May
June

0.16
0.69
0.22

0.34
0.84
0.75

0.65
1.00
1.08

0.86
0.84
0.88

198.2
197.6
195.9

809.7
808.2
805.6

6.797

1.389
1.388
1.380

8.75
3.22
-9.78

July
August
September

0.22
0.86
1.07

0.88
1.21
0.70

1.13
0.91
0.60

0.99
1.06
0.96

195.2
196.3
198.2

807.9
815.2
820.1

6.739

1.377
1.359
1.355

-5.95
-7.22
-10.42

October
November
December

1.19
1.13
0.89

0.66
0.79
0.75

0.90
0.57
0.50

0.84
0.75
0.67

199.7
201.9
204.3

822.1
828.6
837.1

6.566

1.357
1.354
1.350

-48.32
-9.05
-47.32

0.82
1.87
1.32

0)2.58
2.03
0.93

1.01
0.93

0.70
0.82
E>0.96

205.6
209.9
212.4

857.2
876.4
883.4

6.468

1.320
1.292
1.290

20.60
34.81
-48.94

-0.22
H>2.20
0.85

0.24
1.03
0.87

0.62
0.87
p0.92

0.94
0.83
p0.80

210.7
214.1
215.5

880.4
884.7
890.5

6.477

1.296
1.297
1.292

5.20
-36.43
29.38

0.74
0.23
r0.08

0.56
0.50
r0.38

(NA)

(NA)

D216.2
215.8
215.0

891.9
892.5
r891.8

[H)r6.567

1.292
1.290
rl.299

DP71.86

pO.12
-0.37

pO.75

p214.3

DP894.6

1982

1983
January
February
March
April
May
June
July
August
September
October
November
December

2

Dl.17

69.42

pi.304

See note on page 60.
Graphs of these series are shown on pages 13, 31, and 32.
1
This series is a weighted 4-term moving average (with weights 1,2,2,1) placed on the terminal month of the span.
2
Average for weeks ended November 2 and 9.

NOVEMBER 1983



71

CYCLICAL INDICATORS
B

I

CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued

MAJOR ECONOMIC
PROCESS

fflj

Minor Economic
Process

Credit Flows-Continued

Timing Class

Year
and
month

L, L, L

L, L, L

L, L, L

112. Net change
in business
loans

113. Net
change in
consumer installment
credit

(Ann. rate,
bil. dol.)

(Ann. rate,
bil. dol.)

111. Change
in credit outstandingbusiness and
consumer
borrowing
(Ann. rate,
percent)

MONEY AND CREDIT-Continued

Credit Difficulties

L, L, L

110. Total
private
borrowing

(Ann. rate,
mil. dol.)

L, L, L

14. Current
liabilities
of business
failures <u)

(Mil. dol.)

Bank Reserves

L, L, L

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

(Percent)

L, U, U

Interest Rates

L, Lg, U

93. Free
reserves ®

94. Member
bank borrowing from the
Federal
Reserve (u)

(Mil. dol.)

(Mil. dol.)

L, Lg, Lg

119. Federal
funds rate ®

(Percent)

C, Lg, Lg

114. Treasury
bill rate (u)

(Percent)

1981
17.57
4.36
-20.64

19.54
35.65
23.12

7.9
7.9
3.2

307,840

341.36
789.20
485.34

2.42
2.51
2.53

-1,028
-1,023
-719

1,386
1,301
994

19.08
15.93
14.70

14.72
14.90
13.48

April
May
June

46.46
67.79
51.17

25.55
24.02
12.78

10.0
11.2
8.4

368,380

536.88
428.20
408.54

2.40
2.40
2.30

-1,136
-1,968
-1,700

1,338
2,220
2,039

15.72
18.52
19.10

13.63
16.30
14.56

July
August
September

52.51

57.31
59.23

19.28
21.67
33.73

9.9
8.3
9.1

303,776

619.46
450.41
752.34

2.22
2.35
2.28

-1,335
-1,122
-1,035

1,679
1,417
1,451

19.04
17.82
15.87

14.70
15.61
14.95

October
November
December

25.18
42.12
32.60

9.41
-4.36
-2.76

3.0
3.6
3.1

242,420

897.94
618.76
626.74

2.37
2.42
2.37

-871
-348
-330

1,149
695
642

15.08
13.31
12.37

13.87
11.27
10.93

January
February
March

65.16
62.47
23.77

21.42
8.66
2.62

8.4
7.9
2.8

245,804

645.14
913.46
836.01

2.48
2.39
2.24

-1,101
-1,414
-1,254

1,526
1,713
1,611

13.22
14.78
14.68

12.41
13.78
12.49

April
May
June

64.22
45.05
31.64

19.62
18.10
20.90

6.6
4.7
3.2

293,064

1,309.33
2,850.45
1,020.25

2.20
2.21
2.16

-1,307
-745
-895

1,581
1,105
1,205

14.94
14.45
14.15

12.82
12.15
12.11

July
August
September

7.98
4.73
22.00

4.70
0.80
10.04

-1.9
'1.4
1.2

247,372

1,425.60
(NA)

2.19
2.21
2.19

-378
-199
-592

669
510
976

12.59
10.12
10.31

11.91
9.01
8.20

October
November
December

2.71
-63.76
-64.46

4.96
15.65
29.03

-4.1
-5.6
-8.1

265,728

2.24
2.23
2.18

-51
-177
-197

455
579
697

9.71
9.20
8.95

7.75
8.04
8.01

ED 32.20
-5.70
11.00

32.70
8.82
30.98

5.7
1.4
-1.2

r268,632

2.24
2.23
2.22

46
-122
-415

500
557
852

8.68
8.51
8.77

7.81
8.13
8.30

April
May
June

-32.62
-49.01
5.65

27.25
32.35
52.87

-0.1
-4.5
5.7

0>r386,588

2.07
2.00
1.92

-517
-453

993
902

8.25
8.19
8.82

July
August
September

4.58
r8.26
r-0.47

0)58.08
40.66
28.50

0)9.7

9.12
0)9.39
9.05

October
November
December

pl8.02

(NA)

(NA)

January
February
March

1982

1983
January
February
March

r8.4
1.2

p361,388

0)-l,234

0)1,714

8.80
8.63
8.98

1.95
1.90

-875
-1,127
r-943

1,382
1,573
rl,441

9.37
0)9.56
9.45

(NA)

p-423
x
-322

p839
X
832

0)1.88

X

9.48
9.36

See note on page 60.
Graphs of these series are shown on pages 13, 32, 33, and 34.
x

Average for weeks ended November 2, 9, 16, and 23.
Average for weeks ended November 3, 10, 17, and 25.

2

72




NOVEMBER 1983

2

8.71
8.89

CYCLICAL INDICATORS
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued

MAJOR ECONOMIC
PROCESS

Q

Minor Economic
Process
Timing Class

Year
and
month

MONEY AND CREDIT-Continued

Interest Rates-Continued

Lg, Lg, Lg

C Lg, Lg

U. Lg, Lg

Lg, Lg, Lg

116. Corporate 115. Treasury
117. Municipal 118. Secondary
bond yields © bond yields ® bond yields © market yields
on FHA
mortgages <§)

(Percent)

(Percent)

(Percent)

(Percent)

Outstanding Debt

Lg. Lg, Lg

Lg, Lg, Lg

Lg. Lg, Lg

67. Bank rates 109. Average
on short-term prime rate
business loans charged by

66. Consumer
installment
credit

(Percent)

(Mil. dol.)

®

Lg, Lg, Lg

(Mil. dol.)

Lg, Lg, Lg

101. Constant
(1972) dollars

95. Ratio,
consumer installment credit
to personal
income

(Mil. dol.)

(Percent)

Commercial and industrial
loans outstanding
72. Current
dollars

banks ®

(Percent)

Lg. Lg, Lg

1981
20.16
19.43
18.05

309,765
312,736
314,663

211,841
212,204
210,484

88,599
87,869
86,370

13.37
13.38
13.33

17.15

19.61
20.03

316,792
318,794
319,859

214,356
220,005
224,269

87,030
89,107
90,614

13.34
13.34
13.23

2l'.li

20.39
20.50
20.08

321,466
323,272
326,083

228,645
233,421
238,357

91,936
93,781
95,996

13.05
12.96
12.97

v'.iz

18.45
16.84
15.75

326,867
326,504
326,274

240,455
243,965
246,682

96,724
98,333
99,308

13.00
12.96
12.96

17.38
17.10
16.41

v'.n

15.75
16.56
16.50

328,059
328,781
328,999

252,112
257,318
259,299

100,644
102,640
103,637

13.03
12.99
12.97

12.59
11.95
12.45

16.31
16.19
16.73

u'.ii

16.50
16.50
16.50

330,634
332,142
333,884

264,651
268,405
271,042

105,776
107,062
107,856

12.97
12.93
12.98

12.97
12.15
11.48

12.28
11.23
10.66

16.29
14.61
14.03

13.27

16.26
14.39
13.50

334,276
334,343
335,180

271,707
272,101
273,934

107,735
107,934
109,007

12.91
12.93
12.90

12.63
11.89
12.15

10.51
10.18
10.33

9.69
10.06
9.96

12.99
12.82
12.80

11.26

12.52
11.85
11.50

335,593
336,897
339,316

274,160
268,847
263,475

108,923
106,643
104,347

12.82
12.79
12.83

January
February
March

12.04
12.11
11.81

10.37
10.60
10.34

9.50
9.58
9.20

12.87
12.65
12.68

10.20

11.16
10.98
10.50

342,041
342,776
345,358

266,158
265,683
266,600

105,702
105,179
105,626

12.89
12.93
12.93

April

11.58
11.24
11.90

10.19
10*21
10.64

9.05
9.11
9.52

12.50
12.41
12.96

10*31

10.50
10.50
10.50

347,629
350,325
354,731

263,882
259,798
260,269

104,549
102,646
rl02,508

12.93
12.88
12.98

12.46
S> 12.89
12.68

11.10
H>11.42
11.26

9.53
D9.72
9.58

1)14.23
13.78
13.55

E>ll'.O9

10.50
10.89
11.00

359,571
362,959
E>365,334

260,651
r261,339
r261,300

102,377
rl02,086
rl01,951

13.09
E>13.17
pl3.11

12.54
12.86

11.21
HI.35

9.66
9.74

13.23

11.00

(NA)

E>p262,802

plO2,178

(NA)

January
February
March

14.01
14.60
14.49

11.65
12.23
12.15

9.68
10.10
10.16

14.23
14.79
15.04

19.*9i

April
May
June

15.00
15.68
14.97

12.62
12.96
12.39

10.62
10.78
10.67

15.91
16.33
16.31

19.99

July
August
September

15.67
16.34
16.97

13.05
13.61
14.14

11.14
12.26
12.92

"• 16.76

October
November
December

16.96
15.53
15.55

14.13
12.68
12.88

12.83
11.89

12.91

17.43
15.98
16.43

January
February
March

16.34
16.35
15.72

13.73
13.63
12.98

13.28
12.97
12.82

April .
May
June . . .

15.62
15.37
15.96

12.84
12.67
13.32

July
August
September

15.75
14.64
13.78

October
November
December

17.96
18.55

1982

1983

May
June
July
August
September
October
November . .
December .

1

3

m.oo

See note on page 60.
Graphs of these series are shown on pages 15, 34, and 35.
Average for weeks ended November 4, 10, 18 and 25.
2
Average for weeks ended November 4, 11, 18 and 25.
3
Average for weeks ended November 3, 10,17. and 23.
*Average for November 1 through 25.

ltd*

NOVEMBER 1983



73

CYCLICAL INDICATORS
C

DIFFUSION INDEXES AND RATES OF CHANGE

Q [

Year
and
month

950. Twelve leading
indicator components
(series 1, 5, 8, 12, 19,
20, 29, 32, 36, 99, 106,
111)

DIFFUSION INDEXES

952. Six lagging
indicator components
(series 62, 77, 91,
95, 101, 109)

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

1-month
span

6-month
span

8.3
33.3
58.3

75.0
54.2
58.3

100.0
87.5
75.0

100.0
100.0
100.0

100.0
41.7
25.0

45.8
58.3
33.3

50.0
50.0
100.0

July
August
September

33.3
41.7
8.3

8.3
16.7
8.3

October
November
December

25.0
50.0
29.2

January
February
March

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

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

963. Number of employees on private
nonagricultural payrolls
(186 industries)

6-month
span

1-month
span

9-month
span

1-month
span

9-month
span

1-month
span

6-month
span

8.3
25.0
41.7

16.7
66.7
33.3

75.0
15.0
47.5

95.0
77.5
60.0

86.3
39.2
31.4

76.5
81.4
70.6

57.8
52.4
52.2

68.5
65.3
63.7

75.0
75.0
50.0

83.3
66.7
41.7

66.7
50.0
66.7

60.0
77.5
22.5

42.5
15.0
10.0

64.7
78.4
17.6

19.6
19.6
5.9

65.6
60.2
58.9

69.4
64.2
58.6

75.0
25.0
37.5

50.0
25.0
12.5

66.7
50.0
83.3

83.3
66.7
66.7

32.5
57.5
15.0

15.0
20.0
5.0

68.6
58.8
9.8

17.6
9.8
27.5

62.6
49.5
42.2

45.7
34.4
29.6

8.3
8.3
25.0

0.0
0.0
0.0

0.0
0.0
0.0

75.0
66.7
75.0

66.7
66.7
50.0

65.0
17.5
32.5

7.5
0.0
5.0

60.8
49.0
22.5

11.8
5.9
7.8

33.3
29.3
30.9

24.2
25.0
22.0

45.8
58.3
33.3

41.7
41.7
45.8

0.0
87.5
37.5

0.0
50.0
50,0

75.0
33.3
33.3

41.7
33.3
33.3

5.0
95.0
12.5

5.0
32.5
22.5

96.1
24.5
5.9

11.8
31.4
43.1

28.5
45.4
36.0

20.2
23.7
25.3

April
May
June

66.7
37.5
37.5

66.7
50.0
45.8

25.0
75.0
0.0

25.0
0.0
0.0

58.3
41.7
58.3

33.3
33.3
33.3

47.5
65.0
80.0

22.5
25.0
85.0

62.7
68.6
19.6

15.7
23.5
9.8

39.0
47.6
32.8

29.8
26.1
26.1

July
August
September

58.3
58.3
62.5

50.0
41.7
62.5

25.0
0.0
12.5

0.0
0.0
0.0

33.3
50.0
33.3

33.3
16.7
16.7

45.0
37.5
42.5

32.5
60.0
80.0

67.6
9.8
17.6

17.6
72.5
82.4

38.4
37.1
34.1

23.4
19.1
21.2

October
November
December

75.0
58.3
66.7

83.3
87.5
83.3

0.0
50.0
75.0

50.0
50.0
75.0

16.7
0.0
16.7

0.0
8.3
16.7

57.5
65.0
62.5

62.5
82.5
100.0

88.2
60.8
76.5

71.6
66.7
84.3

29.3
32.0
42.2

26.1
26.6
35.8

January
February
March

75.0
66.7
66.7

100.0
100.0
100.0

100.0
25.0
100.0

100.0
100.0
100.0

33.3
50.0
25.0

16.7
16.7
16.7

85.0
7.5
97.5

90.0
90.0
80.0

68.6
57.8
35.3

98.0
96.1
100.0

56.5
45.7
62.4

50.5
63.2
73.4

April
May
June

83.3
70.8
87.5

100.0
rlOO.O
91.7

87.5
100.0
100.0

100.0
100.0
100.0

33.3
8.3
25.0

16.7
16.7
33.3

92.5
32.5
87.5

87.5
r95.0
p85.0

80.4
48.0
78.4

84.3
p90.2
(NA)

69.1
71.0
64.5

76.3
79.3
r83.1

July
August
September

70.8
58.3
50.0

58.3
r58.3
25.0

"25.0

57.5
r55.0
r95.0

70.6
r9.8
p94.1

68.5
r68.0
r61.0

p82.8

p22.5

(NA)

p67.2

1-month
span

6-month
span

1-month
span

1981
January
February
March
April
May
June

1982

1983

October
November
December

2

60.0

2

75.0
r62.5
100.0

90.0

3

100.0

3

100.0

"62.5

NOTE: Figures are the percent of series components rising. (Half of the unchanged components are counted as rising.) Data are centered within the spans: 1-month indexes are placed on the 2d month,.6month indexes on the 4th month, and 9-month indexes on the 6th month of the span; 1-quarter indexes are placed on the 1st month of the 2d quarter and 4-quarter indexes on the 2d month of the 3d quarter.
Series are seasonally adjusted except for those, indicated b y ® , that appear to contain no seasonal movement. Series numbers are for identification only and do not reflect series relationships or order. Complete titles and sources are listed at the back of this issue. The "r" indicates revised; "p", preliminary; "e", estimated; "a", anticipated; and "NA", not available.
Graphs of these series are shown on page 36.
1
Figures are the percent of components declining.
2
Excludes series 36 and 111, for which data are not available.
3
Excludes series 57, for which data are not available.
"Excludes series 77 and 95, for which data are not available.

74




NOVEMBER 1983

BCII

CYCLICAL INDICATORS
C

I

DIFFUSION INDEXES AND RATES OF CHANGE—Continued

Q |

Year
and
month

964. Value of manufacturers' new orders,
durable goods industries (34 industries)

1-month
span

9-month
span

965. Newly approved
capital appropriations,
deflated (17 manufacturing industries)

1-quarter
span

DIFFUSION 1NDEXES-Continued

966. Index of industrial
production (24
industries)

1-month
span

967. Index of spot
market prices, raw
industrials (u)
(13 industrial materials)

968. Index of stock
prices, 500 common
stocks l (u)

960. Net profits,
manufacturing2 ®
(about 600 companies)

1-month
span

9-month
span

38.5
38.5
46.2

66.0
42.5
85.8

79.2
67.3
59.6

"60

69.2
26.9
38.5

46.2
46.2
53.8

81.1
30.2
67.3

59.6
44.2
42.3

*59

31.3
20.8
16.7

61.5
61.5
42.3

61.5
42.3
23.1

19.2
40.4
0.0

46.2
32.7
9.6

'49

8.3
8.3
10.4

38.5
26.9
46.2

23.1
23.1
15.4

58.7
65.4
67.3

14.4
10.6
34.6

*48

35

20.8
8.3
20.8

0.0
12.5
33.3

42.3
34.6
38.5

15.4
30.8
26.9

10.6
34.6
28.8

34.6
42.3
38.5

*50

*40

33.3
75.0
31.3

41.7
37.5
33.3

30.8
34.6
23.1

26.9
19.2
19.2

88.5
54.8
11.5

18.0
56.0
79.6

*53

52

20.8
41.7
54.2

33.3
25.0
37.5

61.5
53.8
61.5

26.9
15.4
23.1

52.9
26.5
100.0

87.8
87.8
89.8

58

49

60.4
52.1
41.7

45.8
60.4
75.0

46.2
30.8
46.2

50.0
57.7
65.4

98.0
85.7
51.0

89.8
98.0
100.0

*66

p58

25.0
33.3
41.7

(NA)

75.0
58.3
75.0

79.2
87.5
91.7

61.5
76.9
57.7

80.8
61.5
57.7

63.3
59.2
73.5

100.0
98.0
93.9

80.8
96.2
88.5

81.6
91.8
65.3

89.8
87.5
86.5

88.5

52.0
30.6
85.4

6-month
span

1-month
span

*49

83.3
62.5
45.8

79.2
70.8
58.3

30.8
30.8
65.4

*43

56.2
62.5
45.8

54.2
58.3
45.8

*42

87.5
52.1
12.5

4-Q moving
average

9-month
span

(4-quarter span)

1981
January
February
March

41.2
50.0
50.0

82.4
79.4
64.7

56

April
May
June

64.7
52.9
52.9

55.9
41.2
32.4

53

July
August
September

35.3
35.3
47.1

32.4
26.5
14.7

33

October
November
December

36.8
50.0
35.3

29.4
20.6
14.7

30

January
February
March

38.2
47.1
45.6

23.5
26.5
33.8

53

April
May
June

47.1
61.8
35.3

26.5
23.5
41.2

24

July
August
September

50.0
38.2
50.0

23.5
32.4
52.9

53

October
November
December

38.2
70.6
41.2

44.1
50.0
64.7

77

January
February
March

70.6
52.9
55.9

91.2
85.3
85.3

42

April
May
June

76.5
64.7
64.7

82.4

p59

r91.2
p85.3

83.3
91.7
79.2

91.7
95.8
rlOO.O

65.4
46.2
46.2

July
August
September

47.1
61.8

(NA)

plOO.O

r58.8

87.5
r85.4
r87.5

57.7
73.1
57.7

p61.8

p75.0

1982

1983

October
November
December

3

69.2
76.9

3

(NA)

47.9

See note on page 74.
Graphs of these series are shown on page 37.
1
Based on 53 industries through May 1981, on 52 industries through August 1982, on 50 industries in September 1982, on 49 industries
through August 1983, and on 48 industries thereafter. Data for component industries are not shown in table C2 but are available from the
source.
2
This is a copyrighted series used by permission; it may not be reproduced without written permission from Dun & Bradstreet, Inc.
3
Based on average for November 1, 8, 15, and 22.

NOVEMBER 1983



75

CYCLICAL INDICATORS
DIFFUSION INDEXES AND RATES OF CHANGE—Continued

D
Year
and
quarter

970. Business expenditures for newplant and
equipment (22 industries)
a. Actual
expenditures
(1-Q span)

b. Later
anticipations

971. New orders, manufacturing

®

c. Early
anticipations

(1-Q span)

DIFFUSION INDEXES-Continued

Anticipated

Actual

(1-Q span)

(4-Q span)

972. Net profits, manufacturing
and trade l (§)

973. Net sales, manufacturing
and trade * (§)

Actua1

Actual

(4-Q span)

Anticipated

(4-Q span)

(4-Q span)

Anticipated

(4-Q span)

(4-Q span)

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

72.7
50.0
47.7
59.1

59.1
40.9
34.1
36.4

77.3
54.5
90.9
72.7

74
63
60
60

66
75
57
62

62
54
57
56

66
73
59
61

73
62
68
66

72
80
63
67

70.5
65.9
81.8
40.9

59.1
36.4
56.8
68.2

59.1
59.1
84.1
77.3

68
70
62
62

74
74
76
76

60
66
60
60

70
69
74
72

70
74
71
68

78
76
80
80

50.0
29.5
22.7
25.0

50.0
22.7
31.8
54.5

50.0
54.5
68.2
72.7

52
50
52
56

60
68
64
60

53
52
52
54

61
66
66
60

63
58
57
60

65
70
72
65

36.4
36.4
(NA)

59.1
43.2
90.9

50.0
40.9
68.2
77.3

66
74
(NA)

66
11
82
85

62
66
(NA)

64
73
80
81

66
74
(NA)

68
78
84
86

1981
First quarter
Second quarter . . . .
Third quarter
Fourth quarter . . . .
1982
First quarter
Second quarter . . . .
Third quarter
Fourth quarter . . . .
1983
First quarter
Second quarter . . . .
Third quarter
Fourth quarter . . . .

D
Year
and
quarter

974. Number of employees,
manufacturing and trade * ©

975. Level of inventories,
manufacturing anc trade l ®

Actual

Actual

Anticipated

(4-Q span)

(4-Q span)

Anticipated

(4-Q span)

(4-Q span)

DIFFUSION NDEXES-Continued

976. Selling prices, manu
facturing l (u)

977. Selling prices, wholesale
trade l

978. Selling prices, retail
trade ! ®

Actual

Actual

Actual

®

Anticipated

(4-Q span)

(4-Q span)

Anticipated

(4-Q span)

(4-Q span)

Anticipated

(4-Q span)

(4-Q span)

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

58
54
53
51

54
56
48
50

67
61
64
60

62
70
53
56

90
88
90
90

87
90
83
86

92
90
92
90

90
92
87
88

92
91
94
90

90
93
84
90

51
53
52
52

56
54
56
55

62
64
62
63

63
61
66
64

88
86
84
82

88
90
89
84

90
88
84
82

90
89
89
84

94
90
86
86

90
90
92
87

48
46
46
46

50
51
51
48

58
52
52
52

54
56
56
50

72
68
63
60

80
76
68
66

72
67
68
61

82
78
72
68

78
75
74
68

82
81
76
72

48
54
(NA)

50
56
59
60

54
59
(NA)

52
58
62
64

61
60
(NA)

65
66
70
69

63
62
(NA)

68
64
68
72

68
72
(NA)

69
67
70
71

1981
First quarter
Second quarter . . . .
Third quarter
Fourth quarter . . . .
1982
First quarter
Second quarter . . . .
Third quarter
Fourth quarter . . . .
1983
First quarter
Second quarter . . . .
Third quarter
Fourth quarter . . . .

NOTE: Figures are the percent of series components rising. (Half of the unchanged components are counted as rising.) Data are placed at the end of the span. Series are seasonally adjusted except for those,
indicated by (u), that appear to contain no seasonal movement. The "r" indicates revised; "p", preliminary; and "NA", not available.
Graphs of these series are shown on page 38.
lr
This is a copyrighted series used by permission; it may not be reproduced without written permission from Dun § Bradstreet, Inc. Dun §
Bradstreet diffusion indexes are based on surveys of about 1,400 business executives.

76




NOVEMBER 1983

CYCLICAL INDICATORS
DIFFUSION INDEXES AND RATES OF CHANGE—Continued

Q |

SELECTED DIFFUSION NDEX COMPONENTS Basic Data and Directions 0f Change

Diffusion index components

1983

March

April

May

June

July

August

September r

0ctoberp

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

+

Percent rising of 20 components

39.5

+

(98)

40.1

40.0

(92)

(32)

+

40.1

+

(88)

40.2

+

40.3

+

(55)

(58)

40.8

40.6

(95)

(22)

40.2
40 0

Durable goods industries:
Lumber and wood products
Furniture and fixtures

o
+

39.5
38 3

+
+

40.0
39 3

Stone, clay, and glass products
Primary metal industries

+
+

40.6
39.4

+
+

41.0
39.9

Fabricated metal products
Machinery, except electrical

+
+

39.7
39.7

+
+

40.5
40.2

-

Electric and electronic equipment
Transportation equipment

+
+

39.8
41.7

+
+

40.4
42.3

-

40.3
41.6

Instruments and related products
Miscellaneous manufacturing

+
+

40.0
39.0

+
o

40.5
39.0

-

40.4
38.8

+

40.1
38.9

Food and kindred products
Tobacco manufacture's

+
+

39.2
36.3

+
+

39.6
37.3

+

39.4
37.4

+

39.8
38.5

Textile mill products
Apparel and other textile products

+
+

39.6
35.6

+
+

40.6
36.2

-

40.4
36.1

0

40.7
36.1

Paper and allied procucts
Printing and publishing

+
+

42.1 +
37.4 +

42.4
37.7

42.7
37.4

+

Chemicals and allied products
Petroleum and coal products

+
+

41.2
44 9

+

41.5
43 5

41.6
4-3 a.

+

Rubber and miscellaneous plastics products
Leather and leather products

+
+

40.6
36.0

+
+

-

39.8
39 2
41.2
40.3

+

0

40.4
40.0

+

40.0
39 6

-

39.9
39 7

+
0

r40.2
r39 7

+
+

40.4
40 1

41.6
40.3

41.7
40.8

0
+

41.7
r40.9

+
+

42.0
41.2

+

41.8
41.7

40.5
40.4

40.7
40.7

+
0

r40.9
40.7

+
+

41.6
41.2

0

41.3
41.2

40.5
41.9

40.8
42.0

40.7
r41.8

+
+

41.2
43.5

+

41.1
42.5

40.7
38.8

+

r40.4 +
39.1 +

40.8
39.5

39.4
36.8

+
+

39.6
r37.7

+
+

40.0
38.5

39.8
38.3

40.7
35.8

+
+

r40.9
36.2

+
+

41.3
36.8

40.7
36.4

0

r42.9
37.5

+
+

43.2
37.8

+

43.1
38.0

41.6
r43 5

+

41.8
43 2

+

41.5
43 8

+

40.5
39.9

Nondurable goods industries:

41.1
37.0

0

41.1
36.8

0

_
0

42.8
37.6

+

42.9
37.7

41.9
43 8

-

41.8
43 7

41.3
36.8

40.9
37.4

+

41.2
r37.2

+
+

41.9
37.8

88,234

+

89,978

+

90,996

41.8
37.3

964. VALUE OF MANUFACTURERS' NEWORDERS, DURABLE GOODS INDUSTRIES
(Millions of dollars)
All durable goods industries

+

Percent rising of 34 components

79,951 +
(56)

83,101

+

84,456

+

90,905

-

+

93,728

(76)

(65)

(65)

(47)
10,407
9,885

+
+

11,006 +
10,341 +

11,014
10,654

14,844
14,713

+
-

15,391 +
13,987 +

17,233
14,382

+

17,046
15,030

20,495
17,890

+

21,660
17,593

19,514
18,199

+
+

21,882
18,470

Primary metals
Fabricated metal products

+

9,183
9,715

+

8,952
9,313

9,963
10,036

10,113
10,133

Machinery, except electrical
Electrical machinery

+
+

14,330
12,526

+
+

14,806
13,181

14,956
13,849

15,467
13,432

Transportation equipment
Other durable goods industries

+
+

17,953
16,244

+
+

19,973
16,876

18,377
17,275

23,442
18,318

+
-

(62)

(62)

(59)

+

-

10,758
10,542

NOTE: To facilitate interpretation, the month-to-month directions of change are shown along with the numbers: ( + ) ^ rising, (0) = unchanged, and ( - ) = falling. The "r" indicates revised; " p " ,
preliminary; and "NA", not available.
x
Data are seasonally adjusted by the source agency.
2
Data for most of the diffusion index components are not available for publication, but they are included in the totals and directions of
change for the six major industry groups shown here.

NOVEMBER 1983



77

CYCLICAL INDICATORS
C

I

DIFFUSION INDEXES AND RATES OF CHANGE—Continued

Q

SELECTED DIFFUSION INDEX COMPONENTS : Basic Data and directions of Change—Continued

Diffusion index components

1983

March

April

June

May

Septemberr

Augustr

July

0ctober p

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

+

All industrial production
Percent rising of 24 components

2

140.0

+

(75)

142.6

+

(83)

144.4

+

(92)

146.4

+

(79)

149.7

+

(88)

151.7

+

(85)

153.6

+

154.8

(88)

(75)

(NA)
(NA)

Durable manufactures:
Lumber and products
Furniture and fixtures

128.7
161.0

+
+

132.1
167.7

+
+

135.8
169.6

+
+

137.4
173.1

+

141.3

+

+

rl75.2

+
+

141.6
179.0

+

141.5
179.8

Clay, glass, and stone products
Primary metals

+
+

135.6
81.2

+
+

138.3
83.1

+
+

139.2
84.9

+

141.7
84.8

+
+

145.8
85.5

+
+

148.2
87.2

+
+

151.4
91.3

+

(NA)
94.1

Fabricated metal products
Nonelectrical machinery

+
+

113.9
138.6

+
+

115.3
143.1

+
+

115.5
146.1

+
+

118.5
149.5

+
+

rl22.7
154.2

+
+

126.0
157.2

+
+

128.2
158.5

+
+

129.3
161.9

Electrical machinery
Transportation equipment

+
+

173.8
110.1

+
+

177.2
111.4

+
+

180.1
113.8

+
+

182.4
116.6

+
+

rl88.3
119.7

+
+

189.2
121.1

+
+

194.4
124.7

+
+

198.1
125.6

Instruments
Miscellaneous manufactures

+
+

154.0
136.9

+
+

155.1
145.0

+
+

156.0
149.0

+
+

156.1
151.0

+
+

159.3
153.7

+

161.6
153.1

+
+

163.5
154.0

+
+

163.7
155.5

152.0
113.4

+
+

153.7
114.8

+

155.6
112.9

+
+

157.7
120.0

+

+

rl59.9
112.9

Nondurable manufactures:
Foods
Tobacco products

+

159.0
118.6

(NA)
(NA)

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

Textile mill products
Apparel products

+

131.9
(NA)

+

136.6
(NA)

+

139.6
(NA)

+

141.8
(NA)

+

146.7
(NA)

+

147.5
(NA)

+

147.7
(NA)

Paper and products
Printing and publishing

+
+

156.3
145.9

+

157.0
145.7

+

161.5
145.2

+
+

163.0
147.4

+
+

rl65.1
rl52.0

+
+

168.2
156.3

+
+

168.5
158.6

Chemicals and products
Petroleum products

+
+

205.7
114.8

+
+

208.5
120.6

+
+

211.0
123.8

+

214.7
123.0

+
+

r218.3
rl24.3

+

220.4
122.9

+
+

222.1
126.5

(NA)
123.7

Rubber and plastics products
Leather and products

+

272.0
59.4

+

283.0
58.7

+
+

288.0
59 6

+
+

293.8
60 1

+
+

296.1
62 3

+
+

304.9
64 4

+
+

309.3
65 1

(NA)
(NA)

+

75.2
127.3

+

79.8
125.3

+
+

84.4
125.6

82.9
124.6

+

82.5
139.9

+

80.9
141.2

112.2
117.7

+
+

112.5
122.5

112.6
121.7

+
-

rll'3.9
rl21.2

+
+

115.0
125.0

+

168.0
160.9

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

114.4
114.0

+

NOTE: To facilitate interpretation, the month-to-month directions of change are shown along with the numbers:
preliminary; and "NA", not available.

+

( + ) = rising, (o) = unchanged, and ( - ) = falling.

80.1
140.5
+
+

116.3
127.9

+
+

(NA)
142.7
117.5
(NA)

The "r" indicates revised; "p"

x

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

2

78




NOVEMBER 1 9 8 3

IMJI

CYCLICAL INDICATORS
DIFFUSION INDEXES AND RATES OF CHANGE—Continued

m

SELECTED DIFFUSION INDEX COMPONENTS: Basic Data and Directions of Change-Continued

Diffusion index components

1983

April

March

+

248.8 +
(58)

Percent rising of 13 components

July

June

August

September

October

November 1

INDEX OF SPOT MARKET PRICES , RAW INDUSTRIALS 2

967.

Raw industrials price index (1967 = 100) . . . .

May

253.2 (65)

251.5 (46)

250.5

+

(46)

256.0

+

(58)

265.2 +

267.9 +

273.4 +

279.6

(73)

(58)

(69)

(77)

Dollars

Copper scrap

(pound)..
(kilogram)..

0.587
1.294

Lead scrap..

(pound)..
(kilogram)..

0.123
0.271

Steel scrap .

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

Tin

(pound)
(kilogram)..

Zinc

(pound)..
(kilogram)..

0.608
1.340

0.623 1.373

0.591 +
1.303

0.604
1.332

0.592
1.305

0.568
1.252

0.510
1.124

0.482
1.063

+

0.128 0.282

0.124 0.273

0.118
0.260

0.113 +
0.249

0.115 +
0.254

0.122 +
0.269

0.150 +
0.331

0.152
0.335

+

85.000 93.696

80.500 88.735

69.600
76.720

75.500 +
83.224

80.000 +
88.184

87.400 +
96.341

88.750 +
97.829

89.000 +
98.105

92.000
101.412

+

6.180
13.624

+

6.300 13.889

6.208 13.686

6.158
13.576

6.110
13.470

5.950
13.117

5.932 +
13.078

5.960 +
13.139

6.045
13.327

0.384
0.847

+

0.387
0.853

+

0.404
0.891

+

0.260 0.284

0.244
0.267

Burlap

(yard)
(meter)..

+

0.256
0.280

Cotton

(pound)..
(kilogram)..

+

0.681 1.501

0.677
1.493

+

0.692
1.526

0.405 +
0.893

0.411 +
0.906

0.440 +
0.970

0.464 +
1.023

0.471 +
1.038

0.494
1.089

+

0.252
0.276

0.250 +
0.273

0.258 +
0.282

0.266 +
0.291

0.287 +
0.314

0.297
0.325

+

0.726
1.601

0.720 +
1.587

0.748
1.649

0.735 o
1.620

0.735 +
1.620

0.759
1.673

Print cloth ..

(yard)
(meter)..

0.594 0.650

0.578
0.632

+

0.584 0.639

0.576 +
0.630

0.615 +
0.673

0.638 +
0.698

0.686 +
0.750

0.772 +
0.844

0.845
0.924

Wool tops ..

(pound)..
(kilogram)..

3.240 7.143

3.200 0
7.055

3.200 0
7.055

3.200 o
7.055

3.200 +
7.055

3.340 +
7.363

3.550 o
7.826

3.550 o
7.826

3.550
7.826

Hides

(pound)..
(kilogram)..

+

0.504
1.111

0.560
1.235

0.605
1.334

+

0.618 +
1.362

0.692
1.526

0.674
1.486

0.632 +
1.393

0.635 +
1.400

0.671
1.479

Rosin

(100 pounds)..
(100 kilograms)..

o

47.000 0
103.616

47.000 0
103.616

47.000 0
103.616

47.000 o
103.616

47.000 o
103.616

47.000 o
103.616

47.000 o
103.616

47.000 o
103.616

47.000
103.616

Rubber

(pound).,
(kilogram)..

+

0.560
1.235

+

0.584 1.287

0.568 1.252

0.555 +
1.224

0.581 +
1.281

0.596 +
1.314

0.599 o
1.321

0.599
1.321

0.584
1.287

Tallow

(pound)..
(kilogram)..

+

0.151
0.333

+

0.169 0.373

0.164 0.362

0.150 o
0.331

0.150 +
0.331

0.186
0.410

0.180
0.397

0.168 +
0.370

0.178
0.392

+

+

NOTE: To facilitate interpretation, the month-to-month directions of change are shown along with the numbers: ( + ) = rising, (o) = unchanged, and ( - ) = falling.
preliminary; and "NA", not available.

The "r" indicates revised: "p",

1

The index is the average for November 1 through 23; component prices are averages for November 1, 8, 15, and 22.
Data are not seasonally adjusted. These series are based on copyrighted data used by permission; they may not be reproduced without
written permission from Commodity Research Bureau, Inc. Components are converted to metric units by the Bureau of Economic Analysis.
a

NOVEMBER 1983



79

OTHER IMPORTANT ECONOMIC MEASURES
NATIONAL INCOME AND PRODUCT

D
Year
and
quarter

b. Difference

(Ann. rate,
bil. dol.)

(Ann. rate,
bil. dol.)

217. Per capita
GNP in 1972
dollars

50. Gross national product in 1972 dollars

200. Gross national product in current dollars
a. Total

GNP AND F'ERSONAL INCOME

c. Percent
change at
annual rate

b. Difference

a. Tota

c. Percent
change at
annual rate

(Ann rate,
bil. dol.)

(An i. rate,
bil dol.)

(Ann. rate,
dollars)

213. Final sales
in 1972 dollars

(Ann. rate,
bil. dol.)

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

2 ,572.9
2 ,578.8
2 ,639.1
2 ,736.0

73.0
5.9
60.3
96.9

11. 7
0. 9
9. 7
15. 5

] ,496 .4
] , 4 6 1 .4
] ,464 .2
] AH .9

5. 6
-35. 0
2. 8
13. 7

2 ,866.6
2 ,912.5
3 ,004.9
3 ,032.2

130.6
45.9
92.4
27.3

20. 5
6. 6
13. 3
3.7

1 ,510 .1
] ,512 .5
]L ,525.8
] ,506 .9

32. 2
2. 4
13. 3
-18. 9

3 ,021.4
3 ,070.2
3 ,090.7
3 ,109.6

-10.8
48.8
20.5
18.9

-1. 4
6. 6
2. 7
2. 5

]L,485
] ,489
] ,485
]L,480

.8
.3
.7
.7

-21. 1
3. 5
-3. 6
-5. 0

-5.5

3 ,171.5
3 ,272.0
r3 ,360.3

61.9
100.5
r88.3

8. 2
13. 3
rll. 2

]L ,490.1
[,525.1
r ] , 5 5 3 .6

9. 4
35. 0
r28. 5

2.6
9.1

6,600
6,427
6,421
6,464

1,496.9
1,463.6
1,474.4
1,482.5

6,592
6,588
6,629
6,529

1,507.0
1,503.6
1,509.7
1,500.9

6,424
6,425
6,393
6,355

1,495.9
1,492.7
1,487.0
1,503.4

6,382
6,518
r6,623

1,505.5
1,530.5

1.9

-9.0
3.8
3.8

1981
First quarter
Second quarter . . . .
Third quarter
Fourth quarter . . . .

3.0
3.7
3.6

-4.9

1982
First quarter
Second quarter . . . .
Third quarter
Fourth quarter . . . .

1.0

-1.0
-1.3

1983
First quarter
Second quarter . . . .
Third quarter
Fourth quarter . . . .

^ H

Year
and
quarter

j

Di

GNP AND PERSONAL INCOME—Continued

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

r7.7

rl,549.7

PERSONAL CONSUMPTION EXPENDITURES

230. Total n current
dollars

231. Total in 1972
dollars

232. Durable goods
in current dollars

(Ann rate,
bil. dol.)

(Ann. rate,
bil. dol.)

(Ann. rate,
bil. dol.)

233. Durable goods
in 1972 dollars

227. Per capita in
1972 dollars

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

(An I. rate
dollars)

(Ann. rate,
bil. dol.)

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

1,771.7
1,789.8)
1,846.C
l,908.C )

1,025
1,012
1,019
1,029

.8
.0
.2
.6

4 ,524
4 ,451
4 ,469
4 ,503

1 ,620 .5
1 ,626 .4
1 ,683 .4
1 , 7 4 1 .9

938 .3
919 .6
929 .4
940 .0

220.7
200.8
213.8
223.6

145.2
130.0
135.6
139.0

1,967.6
2,010.4
2,092.C )
2,120.E

1,040 .7
1,045.6
1,068 .1
1,064 .3

4 ,543
4 ,554
4 ,640
4 ,612

1 ,802 .8
1 ,835 .8
1 ,886 .1
1 ,904 . 1

953 .6
954 .7
962 .9
955 .7

236.9
233.4
243.5
230.8

145.4
140.5
143.9
134.8

2,127.^ )
2,159.C )
2,191.e
2,227.8 I

1,055 .1
1,060 .2
1,059.3
1,066 .1

4 ,562
4 ,574
4 ,558
4 ,576

1 ,938
1 ,972
2 ,008
2 ,046

.9
.8
.8
.9

961 .4
968 .8
971 .0
979 .6

239.4
242.9
243.4
252.1

138.5
139.5
138.2
143.2

2,255.< )
2,301.C )
r2,363.1

1,073 .8
1,083 .0
rl,102 .1

4 ,599
4 ,629
,699

2 , 0 7 3 .0
2 ,147 .0
r2 ,182 .9

986 .7
1 , 0 1 0 .6
rl,018 .0

258.5
111 .1
r284.5

145.8
156.5

1981
First quarter
Second quarter
Third quarter
Fourth quarter . . . .
1982
First quarter
Second quarter . . . .
Third quarter
Fourth quarter . . . .
1983
First quarter
Second quarter . . . .
Third quarter
Fourth quarter . . . .

rl58.8

NOTE: Series are seasonally adjusted except for those, indicated by (u), that appear to contain no seasonal movement. Series numbers are for identification only and do not reflect series relationships or order.
Complete titles and sources are listed at the back of this issue. The " r " indicates revised; " p " , preliminary; " e " , estimated; " a " , anticipated; and "NA", not available.
Graphs of these series are shown on pages 40 and 4 1 .




NOVEMBER 1983

OTHER IMPORTANT ECONOMIC MEASURES
IA

I

NATIONAL INCOME AND PRODUCT—Continued

| Q

Year
orlH
ana
quarter

236. Nondurable
goods in current
dollars

(Ann. rate,
bil. dol.)

i

PERSONAL CONSUMPTION EXPENDITURES—Continued

Q

238. Nondurable
goods in 1972
dollars

237. Services in
current dollars

239. Services in
1972 dollars

(Ann. rate,
bil. dol.)

(Ann. rate,
bil. dol.)

(Ann. rate,
bil. dol.)

240. Total in
current dollars

(Ann. rate,
bil. dol.)

GROSS PRIVATE DOMESTIC INVESTMENT
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.)

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

651.4
658.2
671.9
693.7

358.5
354.2
353.5
356.2

748.3
767.5
797.6
824.6

434.5
435.4
440.3
444.7

422.0
394.3
379.5
411.7

224.3
202.4
197.4
210.0

423.6
391.3
404.9
426.8

224.8
204.5
207.5
214.7

716.3
730.6
741.1
747.7

359.8
362.7
363.6
363.8

849.6
871.8
901.5
925.6

448.3
451.5
455.5
457.1

455.5
472.1
495.8
476.2

222.7
229.5
236.3
221.7

444.7
457.1
462.2
461.8

219.7
220.7
220.2
215.7

749.7
754.7
766.6
773.0

362.6
363.5
364.7
366.0

949.7
975.2
998.9
1,021.8

460.4
465.7
468.2
470.4

422.9
432.5
425.3
377.4

199.7
201.4
198.4
178.4

448.6
443.7
430.2
433.8

209.9
204.9
199.8
201.1

777.1
799.6
r814.8

368.9
374.7
r378.1

1,037.4
1,069.7
1,083.6

472.0
479.4
481.1

404.1
450.1
r498.2

190.0
210.2
r229.4

443.5
464.6
r489.5

205.4
215.6
r225.5

1981
First quarter
Second quarter . . . .
Third quarter
Fourth quarter . . . .
1982
First quarter
Second quarter . . . .
Third quarter
Fourth quarter . . . .
1983
First quarter
Second quarter . . . .
Third quarter
Fourth quarter . . . .

• •
GROSS PRIVATE
WilSt DOMESTIC INVEST.-Con.
Vflor

tear
and
quarter

245. Change in
business inventories in current
dollars
(Ann. rate,
bil. dol.)

30. Change in
business inventories in 1972
dollars
(Ann. rate,
bil. dol.)

| M
260. Total in
current dollars

(Ann. rate,
bil. dol.)

261. Total in
1972 dollars

(Ann. rate,
bil. dol.)

GOVERNMENT PURCHASES OF GOODS AND SERVICES
262. Federal
Government .in
current dollars

263. Federal
Government in
1972 dollars

(Ann. rate,
bil. dol.)

(Ann. rate,
bil. dol.)

266. State and
local government
in current dollars

(Ann. rate,
bil. dol.)

267. State and
local government
in 1972 dollars

(Ann. rate,
bil. dol.)

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

-1.6
3.0
-25.4
-15.1

-0.5
-2.1
-10.1
-4.7

517.6
535.5
539.1
559.0

284.0
286.8
284.0
282.5

188.1
199.0
194.5
206.6

105.8
109.3
106.2
104.2

329.6
336.5
344.6
352.4

178.1
177.5
177.8
178.3

10.9
15.0
33.6
14.3

3.0
8.9
16.1
6.0

576.3
583.5
600.3
622.8

285.6
284.1
286.8
289.6

215.7
220.4
232.4
248.5

107.3
107.9
111.8
114.5

360.5
363.2
367.9
374.3

178.3
176.2
175.0
175.1

-25.7
-11.2
-4.9
-56.4

-10.2
-3.4
-1.3
-22.7

629.8
631.6
655.7
679.7

289.4
285.8
292.2
299.7

249.7
244.1
261.7
279.2

114.5
110.3
116.9
124.4

380.0
387.5
394.0
400.5

174.9
175.4
175.3
175.2

-39.4
-14.5
r8.7

-15.4
-5.4
r3.9

677.4
683.4
r699.4

292.9
292.1
r295.8

273.5
273.7
r278.9

118.4
117.6
rll9.3

404.0
409.7
420.6

174.5
174.5
rl76.5

1981
First quarter
Second quarter . . . .
Third quarter
Fourth quarter . . . .
1982
First quarter
Second quarter . . . .
Third quarter
Fourth quarter . . . .
1983
First quarter
Second quarter . . . .
Third quarter
Fourth quarter . . . .

See note on page 80.
Graphs of these series are shown on pages 41, 42, and 43.

NOVEMBER 1983



81

OTHER IMPORTANT ECONOMIC MEASURES
A

I

NATIONAL INCOME AND PRODUCT—Continued

Q j

Year
and
quarter

255. Constant
(1972) dollars

(Ann. rate,
bil. dol.)

(Ann. rate,
bil. dol.)

(Ann. rate,
bil. dol.)

(Ann. rate,
bil. dol.)

(Ann. rate,
bil. dol.)

280. Compensation of
employees

257. Constant
(1972) dollars

253. Current
dollars

256. Constant
(1972) dollars

252. Current
dollars

NATIONAL INCOME
AND ITS COMPONENTS

220. National income in current
dollars

Imports of goods and services

Exports of goods and services

Net exports of goods and services
250. Current
dollars

• •
H I

FOREIGN TRADE

(Ann. rate,
bil. dol.)

(Ann. rate,
bil. dol.)

(Ann. rate,
bil. dol.)

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

12.8
22.5
37.1
23.3

49.8
52.6
53.4
45.4

335.3
336.8
337.6
345.4

164.4
161.0
156.4
154.7

322.5
314.2
300.5
322.0

114.5
108.4
102.9
109.3

2,076.2
2,072.5
2,117.7
2,200.1

1,555.6
1,574.8
1,604.5
1,663.6

31.9
21.1
22.8
29.2

48.3
44.1
39.8
39.9

367.3
369.2
367.5
371.0

160.6
160.7
159.0
158.7

335.4
348.1
344.7
341.7

112.4
116.6
119.1
118.8

2,295.8
2,337.2
2,423.4
2,435.6

1,718.8
1,750.9
1,791.7
1,815.6

29.9
33.3
0.9
5.6

35.2
33.4
24.0
23.0

358.4
364.5
346.0
321.6

151.8
154.5
146.4
136.5

328.5
331.2
345.0
316.1

116.6
121.1
122.4
113.5

2,419.7
2,448.9
2,458.9
2,474.0

1,834.2
1,859.9
1,879.5
1,889.0

17.0
-8.5
r-20.2

20.5
12.3
rl0.4

326.9
327.1
r341.1

137.3
136.2
rl40.6

309.9
335.6
r361.3

116.8
123.9
rl30.2

2,528.5
2,612.8
p2,686.6

1,923.7
1,968.7
r2,011.9

1981
First quarter
Second quarter . . . .
Third quarter
Fourth quarter . . . .
1982
First quarter
Second quarter '. . . .
Third quarter
Fourth quarter . . . .
1983
First quarter
Second quarter . . . .
Third quarter
Fourth quarter . . . .

Q j
Year
and
quarter

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

Q

NATIONAL INCOME AND ITS COMPONENTS-Continued
284. Rental income
of persons with
capital consumption adjustment
(Ann. rate,
bil. dol.)

286. Corporate
profits with inventory valuation and
capital consumption adjustments
(Ann. rate,
bil. dol.)

288. Net interest

(Ann. rate,
bil. dol.)

290. Gross saving
(private and government)

(Ann. rate,
bil. dol.)

SAVING

295. Business
saving

(Ann. rate,
bil. dol.)

292. Personal
saving

(Ann. rate,
bil. dol.)

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

123.1
111.7
116.7
118.3

29:0
30.1
32.5
34.4

187.3
168.3
170.6
175.6

181.2
187.6
193.5
208.2

408.3
400.3
398.7
416.1

314.0
324.1
328.0
334.7

100.8
113.2
112.2
114.6

121.1
118.9
123.5
117.1

37.4
39.9
42.7
45.6

194.7
185.0
197.6
192.0

223.7
242.6
268.0
265.3

461.8
475.8
507.6
490.1

356.6
365.1
381.9
393.8

112.2
120.2
149.7
159.0

111.2
104.9
103.6
116.2

47.4
49.0
50.9
52.3

162.0
166.8
168.5
161.9

265.0
268.3
256.4
254.7

434.4
439.5
397.9
351.3

383.3
393.6
401.9
405.8

130.8
127.1
123.0
120.8

120.6
127.2
rl28.9

54.1
54.8
53.9

181.8
218.2
p246.2

248.3
243.8
r245.7

398.5
420.6
p452.0

419.7
443.4
p469.7

121.7
91.5
rll5.5

NOVEMBER 1983

ito

1981
First quarter
Second quarter . . . .
Third quarter
Fourth quarter . . . .
1982
First quarter
Second quarter . . . .
Third quarter
Fourth quarter . . . .
1983
First quarter
Second quarter . . . .
Third quarter
Fourth quarter . . . .

See note on page 80.
Graphs of these series are shown on pages 44, 45, and 46.

82



OTHER IMPORTANT ECONOMIC MEASURES
A

I

NATIONAL INCOME AND PRODUCT—Continued

^ »

Year
and
quarter

Q |

SAVING-Continued

298. Government
surplus or deficit,

293. Personal
saving rate

lotai

(percent of disposable personal
income)
(Ann. rate,
bil. dol.)

SHARES OF GNP AND NATIONAL INCOME

Percent of gross national product

(Percent)

235. Personal consumption expenditures, total

248. Nonresidential
fixed investment

251. Net exports of
goods and services
(Percent)

(Percent)

(Percent)

(Percent)

(Percent)

247. Change in
business inventories

249. Residential
fixed investment

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

-7.5
-38.1
-43.3
-33.9

5.7
6.3
6.1
6.0

63.0
63.1
63.8
63.7

12.1
11.6
11.7
11.6

4.4
3.6
3.7
4.0

-0.1
0.1
-1.0
-0.6

0.5
0.9
1.4
0.9

-8.1
-10.6
-25.2
-63.7

5.7
6.0
7.2
7.5

62.9
63.0
62.8
62.8

11.6
11.9
12.0
12.1

3.9
3.8
3.4
3.1

0.4
0.5
1.1
0.5

1.1
0.7
0.8
1.0

-79.7
-81.2
-127.0
-175.3

6.1
5.9
5.6
5.4

64.2
64.3
65.0
65.8

12.0
11.5
11.1
10.8

2.9
3.0
2.8
3.1

-0.9
-0.4
-0.2
-1.8

1.0
1.1
0.0
0.2

-142.9
-114.4
p-133.3

5.4
4.0
r4.9

65.4
65.6
65.0

10.5
10.3
10.4

3.5
3.9
4.2

-1.2
-0.4
r0.3

0.5
-0.3
r-0.6

1981
First quarter
Second quarter . . . .
Third quarter
Fourth quarter . . . .
1982
First quarter
Second quarter . . . .
Third quarter
Fourth quarter . . . .
1983
First quarter
Second quarter . . . .
Third quarter
Fourth quarter . . . .

Q [

Year
and
quarter

SHARES OF GNP AND NATIONAL INCOME-Continued

3

Percent of GNP-Continued
265. Federal Government purchases of
goods and services

ercent of national income

268. State and local
government purchases
of goods and services

64. Compensation of
employees

(Percent)

(Percent)

(Percent)

283. Proprietors'
income with IVA
and CCAdj >

285. Rental income
of persons with
CCAdj >
(Percent)

(Percent)

289. Net interest

287. Corporate
profits with IVA
and CCAdjl

(Percent)

(Percent)

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

7.3
7.7

74.9
76.0
75.8
75.6

5.9
5.4
5.5
5.4

1.5
1.5
1.6

9.0
8.1
8.1
8.0

8.7

7.4
7.6

12.8
13.0
13.1
12.9

1.4

7.5
7.6
7.7
8.2

12.6
12.5
12.2
12.3

74.9
74.9
73.9
74.5

5.3
5.1
5.1
4.8

1.6
.1.7
1.8
1.9

8.5
7.9
8.2
7.9

9.7
10.4
11.1
10.9

8.3
8.0
8.5
9.0

12.6
12.6
12.7
12.9

75.8
75.9
76.4
76.4

4.6
4.3
4.2
4.7

2.0
2.0
2.1
2.1

6.7
6.8
6.9
6.5

11.0
11.0
10.4
10.3

8.6
8.4
r8.3

12.7
12.5
12.5

76.1
75.3
p74.9

4.8
4.9
p4.8

2.1
2.1
p2.0

7.2
8.4
P9.2

9.8
9.3
P9.1

9.1
9.1
9.5

1981
First quarter
Second quarter . . . .
Third quarter
Fourth quarter . . . .
1982
First quarter
Second quarter . . . .
Third quarter
Fourth quarter . . . .
1983
First quarter
Second quarter . . . .
Third quarter
Fourth quarter . . . .

See note on page 80.
Graphs of these series are shown on pages 46 and 47.
X

IVA, inventory valuation adjustment; CCAdj, capital consumption adjustment.

NOVEMBER 1983



83

OTHER IMPORTANT ECONOMIC MEASURES
PRICES, WAGES, AND PRODUCTIVITY

Q
Implicit price deflator,
gross national product
Year
and
month

310. Index

(1972 = 100)

310c. Change
over 1-quarter
spansl

(Ann. rate,
percent)

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

(1972 = 100)

311c. Change
over 1-quarter
spans!

(Ann. rate,
percent)

PRICE MOVEMENTS
Consumer prices, food

Consumer prices, all items
320. Index (u)

320c. Change
over 1-month
spansl

320c. Change
over 6-month
spansl

(1967 = 100)

(Percent)

(Ann. rate,
percent)

(1967 = 100)

322. Index

322c. Change
over 1-month
spans'

322c. Change
over 6-month
spans'

(Percent)

(Ann. rate,
percent)

1981

10.6

January
February
March

189." 8

April
May
June

192! 6

July
August
September

196! 9

October
November
December

201.2

10.6

260.5
263.2
265.1

0.7
0.8
0.8

9.9
9.6
9.1

268.9
270.3
272.0

0.4
0.5
0.6

6.9
4.7
3.8

8.1

266.8
269.0
271.3

0.4
0.9
0.8

10.0
10.1
10.6

272.3
272.4
272.9

0.1
0.0
0.2

4.8
4.9
4.5

9.2

274.4
276.5
279.3

1.1
0.8
1.0

10.5
9.6

8.8

275.3
276.9
278.0

0.9
0.6
0.4

4.8
4.8
4.8

7.2

279.9
280.7
281.5

0.4
0.5
0.4

6.9
5.3
3.1

278.7
278.9
279.4

0.3
0.1
0.2

4.4
4.2
3.5

4.9

282.5
283.4
283.1

0.3
0.1
0.0

2.9
4.0
5.5

281.3
282.6
282.8

0.7
0.5
0.1

3.3
4.7
5.6

4.5

284.3
287.1
290 6

0.2
1.0
1.1

6.1
6.6
6.9

283.3
285.4
287 1

0.2
0.7
0 6

4.5
3.1
3 4

5.8

292.2
292.8
293 3

0.6
0.3
0.1

7.2
5.1
2 3

287.6
286.9
287 5

0.2
-0.2
0 2

3.4
2.0
0 7

3.8

294.1
293.6
292.4

0.4
0.0
-0.3

1.4
0.4
0 5

288.1
288.2
288 1

0.2
0.0
0 0

0.5
1.0

3.6

293.1
293.2
293.4

0.2
-0.2
0.1

0.8
1.9
2.9

288.3
288.3
290.1

0.1
0.0
0.6

2.2
2.8
2.2

4.1

295.5
297.1
298 1

0.6
0.5
0.2

3.4
4.7
5.4

291.3
292.2
291 3

_n ^

0.4
0.3

1.9
2.3
I 7

299.3
300.3
301.8

0.4
0.4
0.5

5.1

291.0
291.6
292.5

-0.1
0.2
0.3

1.8

302.6

0.4

293.9

0.5

197.* 6
5.9
2O6! 9
9.4
205*3

9.0
208.9

1982

4.3

January
February
March

203 '.4

2li*4

5.6

April

May

213*8

206.2

June
July
August
September

208 .'6

October
November
December

2l6!6

3.7
216*8

3.8
218*8

1 p

1983

5.5

January
February
March

212*8

April
May
June

214.6

July
August
September

220*8

3.3
223.'6

r3.3
r216*.3

October
November
December

r4.4
r225*.4

See note on page 80.
Graphs of these series are shown on pages 48 and 49.

Changes are centered within the spans: 1-month changes are placed on the 2d month, 6-month changes are placed on the 4th month, and
1-quarter changes are placed on the 1st month of the 2d quarter.

84




NOVEMBER 1983

OTHER IMPORTANT ECONOMIC MEASURES
PRICES, WAGES, AND

PRODUCTIVITY—Continued

H M
Producer prices, all commodities
Year
and
month

330. Index (u)

(1967 = 100)

330c. Change
over 1-month
spansl @

(Percent)

PRICE MOVEMENTS-Continued

Producer prices, industrial commodities

330c. Change
over 6-month
spans * <§)

335. Index (u)

(Ann. rate,
percent)

(1967 = 100)

335c. Change
over 1-month
spansl (u)

(Percent)

Producer prices, crude materials

335c. Change
over 6-month
spans ' @

(Ann. rate,
percent)

331. Index

(1967 = 100)

331c. Change
over 1-month
spansl

(Percent)

331c. Change
over 6-month
spans'

(Ann. rate,
percent)

1981
January
February
March

284.8
287.6
290.3

1.4
1.0
0.9

11.5
11.0
10.2

291.5
295.7
299.6

1.7
1.4
1.3

15.8
15.6
13.3

330.0
332.6
330.6

0.9
0.8
-0.6

April
May
June

293.4
294.1
294.8

1.1
0.2
0.2

8.2
6.2
3.8

303.5
304.7
305.1

1.3
0.4
0.1

10.3
7.9
5.3

333.6
332.4
335.5

0.9

3.7

-0.4
0.9

0.2
-1.9

July
August
September

296.2
296.4
295.7

0.5
0.1
-0.2

1.8
1.0
0.7

306.2
307.2
307.4

0.4
0.3
0.1

3.7
3.0
3.2

336.1
333.0
327.4

0.2

-0.9
-1.7

-6.5
-8.4
-11.8

October
November
December

296.1
295.5
295.8

0.1
-0.2
0.1

1.4
1.5
1.6

309.0
309.3
310.0

0.5
0.1
0.2

3.7
2.9
2.4

322.5
318.1
315.1

-1.5
-1.4
-0.9

-9.2
-8.9
-6.3

January
February
March

298.3
298.6
298.0

0.8
0.1
-0.2

1.3
2.1
2.4

311.8
311.6
311.0

0.6
-0.1
-0.2

0.6
0.2
0.4

320.2
317.9
317.0

1.6
-0.7
-0.3

-1.1
5.3
6.9

April
May
June

298.0
298.6
299.3

0.0
0.2
0.2

1.4
1.1
0.9

309.9
309.6
310.6

-0.4
-0.1
0.3

0.6
1.0
1.1

320.8
326.4
325.8

1.2
1.7
-0.2

1.2
0.8
-1.0

July
August
September

300.4
300.2
299.3

0.4
-0.1
-0.3

1.2
1.1
0.9

312.8
313.2
312.7

0.7
0.1
-0.2

2.9
3.5
3.0

322.1
319.1
315.4

-1.1
-0.9
-1.2

-4.0
-5.5
-5.6

October
November
December

299.8
300.3
300.7

0.2
0.2
0.1

-0.3
0.5
0.9

314.3
315.0
315.2

0.5
0.2
0.1

0.7
0.4
0.5

314.3
317.3
316.6

-0.3
1.0
-0.2

-3.9
-1.4
2.2

299.9
300.9
300.6

-0.3
0.3
-0.1

0.5
0.8
rl.l

313.9
313.9
313.5

-0.4
0.0
-0.1

-1.2
-0.9
0.1

315.8
316.8
318.9

-0.3
0.3
0.7

6.2
4.3
r4.5

300.6
301.5
r302.4

0.0
0.3
0.3

2.2
2.7
3.2

312.4
313.6
r315.3

-0.4
0.4
rO.5

1.7
2.3
2.4

323.9
324.1
r323.6

1.6
0.1
-0.2

2.5
6.2
5.8

July
August
September

303.2
304.9
305.3

r0.3
0.6
0.1

3.8

316.6
317.5
317.2

0.4
0.3
-0.1

4.1

319.7
326.5
328.0

-1.2
2.1
0.5

2.0

October
November
December

306.3

0.3

318.7

0.5

327.2

-0.2

5.0
1.9
5.1

1982

1983
January
February
March
April
May
June

See note on page 80.
Graphs of these series are shown on pace 48.
Changes are centered within the spans:

1

NOVEMBER 1983



1-month changes are placed on the 2d month and 6-month changes are placed on the 4th month.

85

OTHER IMPORTANT ECONOMIC MEASURES
PRICES, WAGES, AND PRODUCTIVITY—Continued

Q |

Producer prices, capital equipment

Producer prices, intermediate materials
Year
and
month

332. Index

(1967 = 100)

332c. Change
over 6-month
spans1

332c. Change
over 1-month
spansl

(Ann. rate,
percent)

(Percent)

PRICE MOVEMENTS-Continued

333. Index

(1967 = 100)

333c. Change
over 1-month
spansl

(Percent)

Producer prices, finished consumer goods

333c. Change
over 6-month
spansx

(Ann. rate,
percent)

334. Index

(1967 = 100)

334c. Change
over 1-month
spans1

(Percent)

334c. Change
over 6-month
spans'

(Ann. rate,
percent)

1981
January
February
March

297.0
298.3
301.1

1.2
0.4
0.9

11.4
10.6
9.4

253.5
256.1
258.1

1.1
1.0
0.8

10.1
10.5
11.0

262.2
264.8
267.7

0.9
1.0
1.1

10.7
9.7
9.6

April
May
June

304.2
305.6
307.0

1.0
0.5
0.5

7.3
7.7
5.9

260.2
262.3
264.1

0.8
0.8
0.7

9.8
8.8
8.1

270.3
270.8
272.1

1.0
0.2
0.5

8.2
6.2
4.9

July
August
September

307.6
309.6
309.9

0.2
0.7
0.1

4.1
3.4
2.6

265.6
267.1
268.4

0.6
0.6
0.5

7.9
7.8
7.3

272.8
272.9
274.2

0.3
0.0
0.5

3.7
3.8
3.6

October
November
December

310.3
310.7
311.0

0.1
0.1
0.1

2.8
0.9
-0.2

270.3
272.3
273.6

0.7
0.7
0.5

7.1
5.6
5.7

275.3
275.9
277.0

0.4
0.2
0.4

3.8
4.0
2.1

January
February
March

311.9
311.0
309.6

0.3
-0.3
-0.5

-1.2
-1.3
-0.8

274.9
274.5
276.0

0.5
-0.1
0.5

4.6
4.1
4.4

278.0
278.3
277.0

0.4
0.1
-0.5

1.5
0.7
2.2

April
May
June

308.4
308.7
309.7

-0.4
0.1
0.3

-1.0
-0.4
0.8

276.5
277.8
279.5

0.2
0.5
0.6

4.1
5.8
4.3

277.3
276.9
280.0

0.1
-0.1
1.1

2.5
3.1
4.4

July
August
September

310.3
310.3
310.8

0.2
0.0
0.2

1.6
2.0
1.4

280.5
282.3
281.9

0.4
0.6
-0.1

4.0
3.9
3.5

281.5
282.6
283.0

0.5
0.4
0.1

5.2
6.8
5.1

October
November
December

310.9
311.7
311.8

0.0
0.3
0.0

-0.1

282.0
283.1
284.4

0.0

-0.3
-1.4

2.4
1.9
2.8

284.4
286.2
287.0

0.5
0.6
0.3

1.1
0.6
-0.6

310.1
309.8
308.6

-0.5
-0.1
-0.4

-2.4
-2.0
r-0.4

283.9
285.0
285.8

-0.2
0.4
0.3

2.6
2.2

283.1
283.4
282.2

-1.4
0.1
-0.4

-1.5
-2.3
r-1.7

307.2
308.6
r311.1

-0.5
0.5
r0.8

1.4

285.6
286.2
r287.0

-0.1
0.2
rO.3

2.7
3.3
2.1

282.3
282.9
r284.5

0.0
0.2

1.1

r0.6

July
August
September

312.2
314.0
316.1

r0.4
0.6
0.7

287.7
289.6
288.8

rO.2
0.7
-0.3

2.8

284.6
285.5
286.4

rO.O
0.3
0.3

October
November
December

317.0

0.3

289.6

0.3

287.3

0.3

1982

0.4
0.5

1983
January
February
March
April
May
June

See note on page 80.
Graphs of these series are shown on page 48.
1
Changes are centered within the spans:




2.7
4.9

6.5

rl.8

1-month changes are placed on the 2d month and 6-month changes are placed on the 4th month.

NOVEMBER 1983

1.5
3.0

3.6

OTHER IMPORTANT ECONOMIC MEASURES
PRICES, WAGES, AND PRODUCTIVITY—Continued

Q

WAGES AND PRODUCTIVITY

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

Real earnings

Current-dollar earnings
340. Index

(1977 = 100)

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

Average hourly compensation, all employees,
nonfarm business sector

1

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

341. Index

(1977-100)

341c. Change
over 1-month
spans2
(Percent)

Current-dollar compensation

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

345. Index

(1977 = 100)

345c. Change
over 1-quarter
spans2

345c. Change
over 4-quarter
spans2

(Ann. rate,
percent)

(Ann. rate,
percent)

1981
January
February
March

133.8
135.0
135.8

1.0
0.9
0.6

9.4
8.6
8.8

92.9
93.0
93.0

0.2
0.1
0.0

-0.4
-0.7
0.1

139.0

April
May
June

136.7
137.5
138.2

0.7

0.6
0.5

7.9
8.2
8.5

93.1
92.9
92.7

0.1
-0.3
-0.2

-1.7
-1.5
-2.0

141.4

July
August
September

139.0
140.4

141.4

0.5
1.0
0.7

7.7
8.1
7.5

92.1
92.3
92.0

-0.7
0.2
-0.3

-2.4
-1.1
-1.0

144 .'7

October
November
December

141.9
143.0
143.3

0.3
0.8
0.3

8.7
6.8
6.0

92.0
92.4
92.2

-0.1
0.4
-0.1

2.1
1.8
3.3

147.4

January
February
March

144.9
145.1
145.5

1.1
0.1
0.3

6.5
6.4
6.6

93.1
93.1
93.5

0.9
0.1
0.4

3.9
2.5
1.3

151.0

April
May
June

146.4
147.5
148.0

0.6
0.7
0.4

5.4
6.3
6.3

93.8
93.5
92.8

0.3
-0.3
-0.7

-0.7

July
August
September

148.8
149.6
150.0

0.5
0.5
0.3

5.9
4.9
5.4

92.8
93.0
93.1

-0.1
0.2
0.2

-1.5
-0.2
2.8

155.7

October
November
December

150.7
151.1
151.9

0.4
0.3
0.6

5.4
5.1
4.6

93.1
93.4
94.1

-0.1
0.4
0.8

4.2
5.1
4.1

157.9

January
February
March

152.7
153.4
153.4

0.5
0.4
0.0

4.5
4.7
3.9

94.7
95.3
95.0

0.6
0.7
-0.3

3.8
2.8
1.3

160.6

April
May
June

154.0
154.6
154.8

0.4
0.4
0.2

3.3
2.1
r3.3

94.8
94.7
94.8

-0.2
-0.1
0.0

-0.1
-2.7
r-1.6

162.2

July
August
September

155.2
155.0
155.9

0.3
-0.2
0.6

p3.6

94.7
94.0
94.2

-0.1
-0.7
0.2

p-0.9

October
November
December

pl56.8

p0.5

p94.4

p0.2

11.5
9*.6

7.1
9.0
9.8
8*. 7
7.7
8.3

1982

-0.3
-0.9

10.0

153! i

7*.6
5.7
7.1
7.1
6.3
5.8
5'.9

1983

6.8
p5.4
4.1

pl64.'i

p5.0

See note on page 80.
Graphs of these series are shown on pages 49 and 50.
Adjusted for overtime (in manufacturing only) and interindustry employment shifts.
Changes are centered within the spans: 1-month changes are placed on the 2d month, 6-month changes are placed on the 4th month, 1-quarter changes are placed on the 1st month of the 2d quarter, and 4-quarter changes are placed on the middle month of the 3d quarter.
2

BCII

NOVEMBER 1983



87

OTHER IMPORTANT ECONOMIC MEASURES
PRICES, WAGES, AND PRODUCTIVITY—Continued

WAGES AND PRODUCTIVITY—Continued
Negotiated wage and benefit
decisions, all industries ®

Average hourly compensation, all employees,
nonfarm business sector—Continued
Year
and
month

348. First year
average changes

Real compensation
346. Index

(1977 = 100)

346c. Change
over 1-quarter
spans l

346c. Change
over 4-quarter
spans l

(Ann. rate,
percent)

(Ann. rate,
percent)

(Ann. rate,
percent)

349. Average
changes over
life of
contract

(Ann. rate,
percent)

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

(1977 = 100)

370c. Change
over 1-quarter
spans l

370c. Change
over 4-quarter
spans l

(Ann. rate,
percent)

(Ann. rate,
percent)

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

(1977 = 100)

1981
7.7

0.9

January .
February
March . .

95.8

April
May
June

95.5

July . . . .
August . .
September

95.1

October
November . . .
December . . .

95.2

-1.2

100.5
11.6

-0.5
-1.9

10.8

10.5

8.1

11.0

100.1

2.1

100.1

0.6

101.1

-0.4

99.9

-1.1

100.0

0.7

99.9

1.3

100.4

3.1

100.8

P 3.9

101.7

4.7

102.3
5.8

1.4

3.4
2.2

101.1

1.0
0.4

5.9

7.2

-1.2

-4.1

101.2

1982
1.9

6.8

January
February
March

96.7

April .
May .
June .

96.8

July
August
September . . .

96.7

October
November . . .
December . . .

97.6

1.2

1.7
0.4

101.1
2.6

2.1

6.2

4.7

1.7
101.1

2.6
3.3

3.7

-1.6

100.7

2.5

-0.7

-0.4

4.8

3.3

101.9

2.5

1983
99.3

April
May
June

99.3

July
August . . .
September .

r-1.6

7.2

January . . .
February . .
March

rl.4

p2.7
r4.6

-0.1

2.0

102.5
r3.8

5.4

103.8
pO.2

p99.3

P4.5

p4.1

103.3
p4.8

plO5.O

P104.6

October . .
November
December
See note on page 80.

Graphs of these series are shown on pages 49 and 50.
x
Changes are centered within the spans:
on the middle month of the 3d quarter.




1-quarter changes are placed on the 1st month of the 2d quarter and 4-quarter changes are placed

NOVEMBER 1983

OTHER IMPORTANT ECONOMIC MEASURES
LABOR FORCE, EMPLOYMENT, AND UNEMPLOYMENT

D

| CIVILIAN LABOR FORCE AND MAJOR COMPONENTS

Civilian labor force
Year
and
month

441. Total

442. Employed

Labor force participation rates
451. Males
20 years
and over

(Percent)

Number unemployed

452. Females
20 years
and over

453. Both
sexes, 16-19
years of age

(Percent)

(Percent)

37. Total

(Thous.)

444. Males
20 years
and over

445. Females
20 years
and over

446. Both
sexes, 16-19
years of age

(Thous.)

(Thous.)

(Thous.)

(Thous.)

(Thous.)

January
February
March

108,012
108,175
108,471

99,964
100,143
100,504

79.1
79.1
79.2

51.8
51.9
52.0

56.6
56.5
56.3

8,048
8,032
7,967

3,479
3,500
3,439

2,809
2,766

April
May
June

108,866
109,101
108,440

101,006
100,968
100,393

79.3

79.4
78.9

52.2
52.4
52.2

56.9
56.2
54.4

7,860
8,133
8,047

July
August
September

108,602
108,762
108,375

100,748
100,709
100,104

78.9
78.9
78.7

52.2
52.1
51.7

54.5
55.2
54.9

October
November
December

109,028
109,254
109,066

100,355
100,229
99,677

78.7
78.7
78.8

52.3
52.4
52.2

January
February
March

109,034
109,364
109,478

99,688
99,695
99,597

78.6
78.7
78.6

April
May
June

109,740
110,378
110,147

99,484
99,994
99,681

July
August
September

110,416
110,614
110,858

99,588

October
November
December

447. Fulltime
workers

(Thous.)

448. Number employed
part-time
for economic
reasons

(Thous.)

1981

2,765

1,760
1,766
1,763

6,620
6,602
6,541

4,467
4,182
4,222

3,353
3,540
3,492

2,760
2,846
2,830

1,747
1,747
1,725

6,429
6,617
6,581

4,149
4,242
4,088

7,854
8,053
8,271

3,343
3,513
3,559

2,867
2,849
2,953

1,644
1,691
1,759

6,428
6,473
6,762

4,432
4,448
4,612

54.9
55.0
53.9

8,673
9,025
9,389

3,815
4,026
4,367

3,043
3,105
3,174

1,815
1,894
1,848

7,137
7,442
7,990

4,948
5,005
5,325

52.2
52.3
52.5

54.2
54.5
53.8

9,346

9,669
9,881

4,362
4,451
4,607

3,109
3,286
3,402

1,875
1,932
1,872

7,822
8,000
8,346

5,066
5,489
5,611

78.7
78.9
78.8

52.5
52.8
52.9

54.2
55.2
53.0

10,256
10,384
10,466

4,770
4,818
5,016

3,528
3,568
3,565

1,958
1,998
1,885

8,575
8,689
8,878

5,750
5,731
5,561

99,683
99,543

78.8
78.7
79.0

53.0
53.0
52.9

53.2
54.2
54.3

10,828
10,931

3,672

11,315

5,150
5,232
5,578

3,671
3,710

2,006
2,028
2,027

9,036
9,209
9,622

5,577
5,820
6,495

110,752
111,042
111,129

99,176
99,136
99,093

78.9
78.9
78.7

52.8
52.9
53.1

54.1
54.4
53.9

11,576
11,906
12,036

5,714
5,865
5,909

3,824
3,989
4,071

2,038
2,052
2,056

9,942
10,127
10,285

6,403
6,411

January
February
March

110,548
110,553
110,484

99,103
99,063
99,103

78.1
78.2
78.1

52.9
52.9
52.8

53.5
52.7
52.8

11,446
11,490
11,381

5,597
5,749
5,581

3,963
3,925
3,889

1,886
1,815
1,911

9,810
9,872
9,751

April
May
June

110,786
110,749
111,932

99,458
99,557
100,786

78.3
78.3
78.6

52.8
52.7
53.1

52.6
52.2
55.4

11,328
11,192
11,146

5,702
5,605
5,288

3,729
3,744
3,859

1,897
1,843
1,999

9,702
9,438
9,294

6,845
6,481
6,202
6,082
5,928
5,729

July
August
September

111,875
112,261
112,368

101,285
101,563
101,945

78.8
78.6
78.6

53.1
53.4
53.5

53.6
54.7
54.0

10,590
10,699
10,423

5,208
5,174
5,125

3,521
3,609
3,518

1,860
1,916
1,780

8,949
9,022
8,832

5,636
5,789
6,106

October
November
December

111,815

101,928

78.4

53.2

52.5

9,886

4,826

3,347

1,713

8,355

5,670

1982

6,425

1983

See note on page 80.
Graphs of these series are shown on page 51.

NOVEMBER 1983



OTHER IMPORTANT ECONOMIC MEASURES
GOVERNMENT ACTIVITIES

Q |
Federal Government l
Year
and
month

| f l

RECEIPTS AND EXPENDITURES

DEFENSE INDICATORS

/\dvance 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,
bil. dol.)

(Ann. rate,
bil. dol.)

(Ann. rate,
bil. dol.)

(Ann. rate,
bil. dol.)

(Ann. rate,
bil. dol.)

(Ann. rate,
bil. dol.)

660! 8

35^3

4li.*3

376^6

14,808
15,741
15,560

7,155
7,514
7,590

82,087
83,608
84,883

4,480
5,060
3,785

517. Defense
Department
gross obligations incurred

525. Defense
Department
military prime
contract
awards

543. Defense
Department
gross unpaid
obligations
outstanding

548. Value of
manufacturers'
new orders,
defense
products

(Mil. dol.)

(Mil. dol.)

(Mil. dol.)

(Mil. dol.)

1981
January
February
March

-43.4

April
May
June

-47.' 3

622! 6

669'.9

36^7

415.9

379^2

15,210
15,699
15,156

8,505
7,967
7,041

84,994
85,165
86,126

4,041
5,170
5,057

July
August
September

-62!i

638! 8

701'.2

37.1

42L6

384.3

16,836
17,374
16,584

8,845
9,504
9,325

87,968
89,857
91,896

5,317
5,440
5,435

October
November
December

-95*8

62^2

725!6

32!6

423.4

391 ! i

12,892
15,674
19,805

4,466
9,817
9,049

91,354
92,575
93,827

4,711
5,269
5,244

January
February
March

-108*.5

619.5

72816

2^8

425.*9

397^2

19,361
20,608
18,869

9,756
13,761
9,870

98,818
102,677
105,418

7,151
6,922
6,688

April
May
June

-113*.2

622.' 2

735*4

3216

436.8

404.8

20,793
17,786
17,503

10,518
9,657
14,296

108,428
108,841
109,654

6,204
5,013
5,994

July
August
September

-158!i

615.*2

773^5

31.*3

442." 8

411.4

17,669
16,448
18,387

8,610
8,928
10,296

110,885
110,787
111,857

5,195
5,656
3,638

October
November
December

-208.2

612*.6

820.'9

32^9

450! 7

417^8

16,476
18,599
24,396

5,423
10,209
17,298

111,866
113,647
119,788

5,621
5,663
11,207

January
February
March

-183!3

623.3

806.6

40.4

461.7

421.3

21,340
19,502
20,444

16,908
13,042
7,351

122,628
123,803
125,570

9,568
5,319
6,569

April
May
June

-166."i

652.' 6

818.7

5i.#7

478.7

427!6

19,332
19,554
21,518

10,132
10,111
10,814

126,165
126,532
129,720

7,079
4,782
7,939

p-188.5

p645.6

r834.'l

p55.*3

p492.*6

437.4

19,409
p20,489
(NA)

11,017
plO,727
(NA)

131,172
pl30,829
(NA)

6,901
4,545
r4,946

1982

1983

July
August
September
October
November
December

p5,629

See note on page 80.
Graphs of these series are shown on pages 52 and 53.
1
Based on national income and product accounts.

90




NOVEMBER 1983

OTHER IMPORTANT ECONOMIC MEASURES
GOVERNMENT ACTIVITIES-Continued

Q j

DEFENSE INDICATORS—Continued
National defense
purchases

Intermediate and final measures of defense activity
Year
and
month

557. Output of
defense and
space equipment

559. Manufacturers' inventories, defense
products

561. Manufacturers' unfilled
orders, defense
products

580. Defense
Department
net outlays

(1967 = 100)

(Mil. do!.)

(Mil. dol.)

(Mil. dol.)

588. Manufacturers' shipments, defense
products

570. Employment in defense products
industries

(Mil. dol.)

(Thous.)

Defense Department
personnel
577. Military,
active duty ®

578. Civilian,
direct hire
employment (u)

(Thous.)

(Thous.)

564. Federal
purchases of
goods and
services

565. Federal
purchases as
a percent of
GNP

(Ann. rate,
bil. dol.)

(Percent)

1981
January
February
March

100.9
100.5
100.7

11,113
11,318
11,547

67,999
69,269
69,109

12,639
12,932
12,619

3,613
3,790
3,945

1,391
1,388
1,390

2,056
2,061
2,062

973
972
974

143.3

5.0

April
May
June

101.5
102.0
101.7

11,823
11,959
12,352

69,265
70,594
71,692

12,833
13,433
13,264

3,885
3,841
3,959

1,393
1,393
1,395

2,060
2,064
2,070

980
990
1,008

151.2

5^2

July
August
September

102.6
102.8
103.0

12,417
12,457
12,747

72,912
74,129
75,490

13,889
13,809
14,014

4,097
4,223
4,074

1,394
1,397
1,397

2,082
2,084
2,083

1,023
1,017
984

154.9

5.2

October
November
December

104.5
105.3
107.0

12,857
13,227
13,386

76,042
77,133
78,076

14,277
14,548
15,298

4,159
4,178
4,301

1,392
1,385
1,390

2,090
2,097
2,093

998
1,006
1,009

166*7

5*.5

January
February
March

105.2
106.5
107.0

13,676
13,864
14,059

81,144
83,719
85,990

14,152
14,689
15,075

4,083
4,347
4,417

1,386
1,380
1,377

2,104
2,109
2,107

1,008
1,013
1,018

168.1

5.6

April
May
June

107.2
107.7
107.6

14,209
14,276
14,431

87,917
88,258
89,371

15,670
15,379
15,334

4,277
4,672
4,881

1,376
1,372
1,371

2,106
2,104
2,108

1,022
1,028
1,045

175.2

f5*. 7

July
August
September

109.5
109.5
109.5

14,437
14,700
15,039

89,708
90,598
89,255

16,312
15,050
16,881

4,858
4,766
4,981

1,372
1,364
1,366

2,110
2,109
2,109

1,051
1,043
990

183.6

5.9

October
November
December

111.9
113.6
115.9

15,334
15,568
15,983

89,866
90,561
96,691

15,972
17,087
16,779

5,010
4,968
5,077

1,363
1,363
1,359

2,108
2,114
2,113

1,016
1,024
1,027

190.8

6\1

January
February
March

116.4
116.1
117.0

16,538
16,501
16,824

101,116
101,179
102,632

17,058
16,772
16,804

5,143
5,255
5,116

1,355
1,358
1,355

2,120
2,122
2,127

1,024
1,028
1,030

194.4

6.1

April
May
June

118.2
117.6
118.0

16,850
17,240
17,311

104,440
104,046
106,648

17,529
16,854
17,189

5,271
5,176
5,337

1,358
1,362
1,367

2,123
2,120
2,116

1,029
1,040
1,049

199^4

6.1

July
August
September

rl20.4
rl20.7
rl22.0

17,348
17,805
17,448

107,865
106,967
rlO6,484

16,975
18,455
pl7,414

5,683
5,442
r5,428

1,373

rl,356
pi,375

2,113
2,115
p2,123

1,053
1,052
pi,026

r20K9

ri'.h

October
November
December

P123.5

(NA)

plO6,434

(NA)

p5,682

(NA)

(NA)

(NA)

1982

1983

See note on page 80.
Graphs of these series are shown on pages 54 and 55.

NOVEMBER 1983




91

OTHER IMPORTANT ECONOMIC MEASURES
U.S. INTERNATIONAL TRANSACTIONS

Q

Year
and
month

602. Exports, excluding
military aid shipments,
total

604. Exports of agricultural products

(Mil.dol.)

(Mil. doi.)

MERCHANDISE TRADE

606. Exports of nonelectrical machinery

(Mil.dol.)

612. General imports,
total

616. Imports of
automobiles and parts

614. Imports of
petroleum and
petroleum products

(Mil.dol.)

(Mil.dol.)

(Mil.dol.)

1981
January
February
March

18,902
19,788
21,278

4,295
3,977
4,201

4,058
4,155
4,352

22,616
21,916
21,029

7,359
8,018
5,992

2,264
1,742
2,125

April
May
June

19,786
18,899
19,750

3,604
3,708
3,256

4,311
4,160
4,388

22,249
21,232
22,005

6,919
6,329
6,521

2,042
2,299
2,257

July
August
September

19,289
19,031
19,551

3,089
3,202
3,563

4,567
6,207
4,559

20,114
23,242
21,274

5,400
6,335
5,709

2,108
2,635
1,943

October
November
December

19,163
19,153
18,885

3,735
3,442
3,220

4,338
4,366
4,005

23,077
22,508
19,746

6,123
6,483
4,636

2,464
2,239
2,164

January
February
March

18,584
18,614
18,462

3,258
3,590
3,225

4,346
4,054
3,997

22,573
19,570
20,018

6,810
4,396
4,290

2,389
2,135
2,596

April
May
June

18,005
18,124
18,823

3,400
3,527
3,332

3,932
3,957
4,211

17,714
20,477
21,187

3,894
4,180
4,855

2,389
2,785
2,626

July
""/
August
September

18,060
17,463
17,320

2,789
2,763
2,648

4,305
3,856
4,197

19,849
22,930
20,581

5,624
5,731
4,903

2,455
2,795
2,370

October
November
December

16,671
15,852
16,347

2,681
2,783
2,637

3,829
3,686
3,719

21,006
18,892
19,154

5,433
4,757
4,694

2,444
2,130
2,189

January
February
March

17,393
16,326
16,752

3,128
2,985
2,811

3,644
3,359
3,499

20,021
19,015
19,525

4,166
2,859
3,261

2,329
3,019
2,676

April
May
June

16,074
15,566
17,008

2,891
2,715
2,977

3,513
3,433
3,265

19,771
21,514
21,024

3,252
5,284
4,203

2,746
3,001
2,851

July
August
September

16,628
16,630
17,387

3,072
2,973
3,322

3,655
3,290
3,718

21,950
22,782
22,175

5,220
4,828
5,538

2,988
2,762
2,547

October
November
December

(NA)

(NA)

(NA)

(NA)

(NA)

(NA)

1982

1983

See note on page 80.
Graphs of these series are shown on page 56.

92




NOVEMBER 1983

ItCII

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

Q |

GOODS AND SERVICES MOVEMENTS (EXCLUDING TRANSFERS UNDER MILITARY GRANTS)
Merchandise, adjusted l

Goods and services
Year
and
month

667. Balance

(Mil. dot.)

668. Exports

(Mil.dol.)

622. Balance

669. Imports

(Mil.dol.)

(Mil.dol.)

618. Exports

(Mil.dol.)

Income on nvestments
620. Imports

(Mil.dol.)

651. U.S. investments abroad

(Mil.dol.)

652. Foreign
investments in
the United
States

(Mil.dol.)

1981
January
February
March

4,839

93,786

88,947

-4,482

60,793

65,275

20,683

12,477

April
May
June

2,309

94,534

92,225

-7,342

60,03i

67,373

21,717

13,505

July
August
September

1,801

93,082

91,281

-8,402

57,812

66,214

22,043

13,888

October
November
December

2,57i

93,221

90,650

-7,841

58,383

66,224

21,801

12,892

January
February
March

2,625

89,761

87,136

-6,103

55,636

61,739

20,761

13,824

April
May
June

3,236

90,790

87,554

-5,854

54,996

60,850

22,316

14,779

July
August
September

-4,854

86,932

91,786

-13,078

52,241

65,319

21,569

14,748

October
November
December

-4,190

80,840

85,030

-11,354

48,344

59,698

19,499

13,491

-2,026

81,142

83,168

-8,810

49,506

58,Slo-

17,697

12,608

p-7,874

p81,876

p89,750

p-14,66i

p48,9i3

pes,574

pl9,i90

pl3,257

(NA)

(NA)

(NA)

p-17,894

p50,763

p68,657

(NA)

(NA)

1982

1983
January
February
March
April
May
June
July
August
September
October
November
December
See note on page 80.
Graphs of these series are shown on page 57.
balance of payments basis: Excludes transfers under military grants and Department of Defense sales contracts (exports) and Department
of Defense purchases (imports).

NOVEMBER 1983



93

OTHER IMPORTANT ECONOMIC MEASURES
INTERNATIONAL COMPARISONS

Q |

INDUSTRIAL PRODUCTION

721. OECD l
European countries, index of
industrial
production

728. Japan,
index of industrial production

725. West
Germany, index
of industrial
production

726. France,
index of industrial production

722. United
Kingdom, index
of industrial
production

727. Italy, index
of industrial
production

723. Canada,
index of industrial production

(1967 = 100)

(1967 = 100)

(1967 = 100)

(1967 = 100)

(1967 = 100)

(1967 = 100)

(1967 = 100)

(1967 = 100)

January
February
March

151.4
151.8
152.1

154
159
158

226.9
225.8
226.3

156
164
160

156
159
157

116
117
117

158.6
170.3
169.3

163.9
165.9
167.7

April
May
June

151.9
152.7
152.9

156
156
155

226.6
223.3
228.3

160
160
156

156
159
160

117
116
118

168.4
158.0
159.8

168.5
168.6
170.3

July
August
September

153.9
153.6

230.7
229.6
233.1

157
157
160

157
157
160

118
118
118

165.2

151.6

158
152
158

137.2
164.1

167.8
163.1
163.1

October
November
December

149.1
146.3
143.4

158
158
156

234.5
234.5
233.9

160
157
156

160
159
160

121
120
118

158.4
168.1
160.4

162.1

January
February
March

140.7
142.9
141.7

156
158
158

232.6
231.2
233.2

160
161
161

157
156
156

118
118
120

161.9
169.8
165.7

155.5
153.8
152.2

April
May
June

140.2
139.2
138.7

156
156
154

230.2
228.1
231.2

160
157
154

157
157
157

120
120
118

164.7
162.7
154.9

149.4
150.2
147.0

July
August
September

138.8
138.4
137.3

152
151
152

229.9
230.9
231.7

rl52
153
152

154
154
154

rl22
rl22
rl23

159.6
146.4
154.1

October
November
December

135.7
134.9
135.2

151
152
151

225.5
230.6
228.4

150
150
149

156
157
154

rl22
rl20
rl22

149.7
155.5
151.8

142.4
148.6
144.6
140.5
141.1
140.3

January
February
March

137.4
138.1
140.0

154
154
154

229.4
228.3
233.4

152
152
153

157
156
156

rl23
rl23
rl22

152.0
155.3
152.5

147.7
147.6
148.3

April
May
June

142.6
144.4
146.4

154
155
rl55

232.6
233.1
235.2

153
154
157

156
160
rl57

rl23
rl24
rl22

145.2
148.9
144.4

150.0
151.7
155.0

July
August
September

rl49.7
rl51.7
rl53.6

156
pl54
(NA)

236.0
p243.5
(NA)

154
154
pl56

160

125

pl60
(NA)

pl25
(NA)

rl49.9
P145.4
(NA)

rl56.9
rl58.7
P161.5

October
November
December

pl54.8

47. United States,
index of industrial production
Year
and
month

1981

158.4
157.8

1982

1983

(NA)

(NA)

See note on page 80.
Graphs of these series are shown on page 58.

Organization for Economic Cooperation and Development.

94




NOVEMBER 1983

ItCII

OTHER IMPORTANT ECONOMIC MEASURES
F

I

INTERNATIONAL COMPARISONS—Continued

Q

United States

Year
and
month

320. Index (u)

(1967 = 100)

West Germany

Japan

320c. Change
over 6-month
spans'

(Ann. rate,
percent)

738. Index (u)

(1967 = 100)

CONSUMER PRICES

738c. Change
over 6-month
spansl

(Ann. rate,
percent)

735. Index (u)

(1967 = 100)

United kingdom

France

735c. Change
over 6-month
spans *

736. Index ®

(Ann. rate,
percent)

(1967 = 100)

736c. Change
over 6-month
spansl

(Ann. rate,
percent)

732. Index ®

(1967 = 100)

732c. Change
over 6-month
spans1

(Ann. rate,
percent)

1981
January
February
March

260.5
263.2
265.1

9.9
9.6
9.1

291.1
290.8
292.2

4.4
3.1
3.8

180.9
182.3
183.5

6.6
6.2
5.7

312.7
315.6
318.8

13.2
13.0
13.0

445.5
449.5
456.2

13.0
12.1
11.6

April
May
June

266.8
269.0
271.3

10.0
10.1
10.6

294.5
297.0
297.3

2.6
2.9
3.2

184.7
185.4
186.3

6.3
6.7
6.9

323.1
326.0
329.2

13.8
14.3
15.3

469.4
472.4
475.2

12.5
12.1
10.7

July
August
September

274.4
276.5
279.3

10.5
9.6
8.8

296.4
294.7
299.5

3.9
4.1
4.2

187.1
187.7
188.6

6.9
7.1
6.9

334.9
339.0
342.9

14.9
15.7
15.1

477.3
480.8
483.5

10.4
11.8
12.5

October
November
December

279.9
280.7
281.5

6.9
5.3
3.1

300.7
299.8
299.8

4.0
3.3
2.4

189.2
190.1
190.7

6.3
4.8
3.5

347.1
350.3
352.4

13.9
13.6
13.0

487.9
493.0
496.1

11.5
9.9
10.0

January
February
March

282.5
283.4
283.1

2.9
4.0
5.5

300.7
299.8
300.4

1.9
0.5
0.1

192.3
192.8
193.1

3.0
3.5
4.9

356.0
359.6
363.8

13.0
12.0
12.0

499.0
499.1
503.5

8.4
7.3
6.0

April
May
June

284.3
287.1
290.6

6.1
6.6
6.9

302.9
303.8
303.8

-0.5
2.9
4.0

194.0
195.2
197.1

4.9
5.4
6.3

368.2
371.1
373.7

9.9
8.2
7.2

513.6
517.3
518.9

6.0
6.0
4.7

July
August
September

292.2
292.8
293.3

7.2
5.1
2.3

301.5
303.8
309.1

4.4
4.1
3.7

197.6
197.3
197.9

6.8
5.9
4.0

374.7
375.9
377.5

5.8
6.9
7.3

518.9
519.0
518.7

5.3
5.3
4.2

October
November
December

294.1
293.6
292.4

1.4
0.4
0.5

310.0
306.6
306.0

4.0
0.7
0.9

198.5
198.9
199.4

2.7
2.3
0.9

379.5
383.2
386.4

9.5
10.3
10.8

521.3
523.9
522.9

4,0
5.6
4.6

January
February
March

293.1
293.2
293.4

0.8
1.9
2.9

306.6
305.5
307.5

-0.3
1.7
0.5

199.8
200.0
199.8

0.0
0.4
0.8

390.1
392.9
396.5

12.3
11.2
10.2

523.5
525.8
526.7

2.3
1.7
2.8

April
May
June

295.5
297.1
298.1

3.4
4.7
5.4

308.6
312.0
309.7

0.7
1.7
0.3

200.3
201.1
201.8

2.4
3.6
4.7

401.8
404.5
406.9

9.8
9.7
9.6

534.1
536.4
537.7

4.5
4.3
6.1

July
August
September

299.3
300.3
301.8

5.1

308.3
307.4
311.4

(NA)

202.6
203.2
203.6

(NA)

410.4
412.8
416.0

(NA)

540.6
543.0
545.4

7.7

October
November
December

302.6

1982

1983

(NA)

(NA)

(NA)

547.3

See note on page 80.
Graphs of these series are shown on page 59.
x

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

NOVEMBER 1983



95

OTHER IMPORTANT ECONOMIC MEASURES
F

I

INTERNATIONAL COMPARISONS—Continued

1Q j CONSUMER PRICES-Continued
Year
and
month

Q

STOCK PRICES

733. Index (u) 733c. Change
over 6-month
spans l

19. United
States, index
of stock
prices, 500
common
stocks ®

748. Japan,
index of
stock
prices (u)

745. West
Germany,
index of
stock
prices (u)

746. France,
index of
stock
prices ®

742. United
Kingdom,
index of
stock
prices (u)

747. Italy,
index of
stock
prices (§)

743. Canada,
index of
stock
prices (u)

(Ann. rate,
percent)

(1967 = 100)

(1967 = 100)

(1967 = 100)

(1967 = 100)

(1967 = 100)

(1967 = 100)

(1967 = 100)

Italy

Canada

737. Index @ 737c. Change
over 6-month
spans'

(1967 = 100)

(Ann. rate,
percent)

440.7
449.1
455.4

20.1
20.1
19.3

259.1
261.7
265.2

13.1
12.2
13.2

144.6
139.7
144.9

457.9
458.2
467.3

115.3
114.0
116.3

191.1
201.1
209.4

259.0
269.0
273.2

110.0
122.1
125.9

223.7
218.6
233.9

461.3
468.7
473.9

18.9
18.2
16.8

267.2
269.6
273.8

12.3
12.3
11.9

146.2
143.3
143.9

494.6
502.8
515.2

122.7
122.1
126.1

197.7
162.5
152.3

293.2
295.6
289.0

132.4
135.9
123.5

232.3
245.7
242.9

July
August
September

477.7
481.0
487.7

17.7
16.8
17.0

276.2
278.2
280.2

12.2
12.2
11.0

140.5
141.0
128.7

534.4
540.7
511.3

127.5
122.5
122.5

168.9
177.4
176.5

284.8
298.6
278.9

99.1
112.0
99.1

232.3
231.6
192.3

October
November
December

497.5
506.0
511.1

15.8
15.3
15.6

283.0
285.4
286.7

10.6
10.9
11.2

130.3
133.7
134.7

493.8
505.6
512.7

118.8
118.0
117.7

163.9
169.2
170.7

259.5
278.0
284.2

91.2
93.8
96.9

190.4
208.9
201.2

January
February
March

517.7
524.4
529.1

13.8
13.6
13.1

288.7
292.1
295.8

10.5
11.4
11.4

127.6
124.6
120.6

518.9
516.9
486.2

116.8
118.4
120.1

185.7
193.1
145.9

291.1
300.1
298.8

95.0
98.8
104.2

185.3
176.7
173.1

April
May
June

533.9
539.8
545.2

15.9
19.0
18.7

297.5
301.5
304.5

11.1
10.2
9.5

126.5
126.6
119.7

484.5
503.4
489.6

120.6
117.6
114.2

184.8
183.3
166.3

303.2
315.4
314.6

96.7
91.0
83.1

171.2
168.4
153.8

July
August
September

553.4
563.4
571.3

20.6
19.8
19.1

306.1
307.6
309.2

9.4
8.2
7.2

119.0
119.3
133.2

480.8
474.3
481.6

113.5
112.3
115.6

161.1
169.3
168.4

313.2
320.1
343.5

78.4
86.1
85.8

156.8
177.4
177.3

October
November
December

582.7
590.3
594.4

16.7
13.7
14.4

311.2
313.3
313.4

5.7
4.7
5.0

144.3
150.2
151.6

490.4
512.7
528.2

118.2
118.8
124.3

170.7
174.5
169.9

360.7
372.0
365.0

86.4
88.8
91.2

192.6
189.7
199.5

January
February
March

602.7
610.5
616.0

12.9
13.2
13.1

312.5
313.9
317.1

3.8
2.8
3.8

156.9
159.7
165.2

533.3
530.8
544.2

126.0
131.9
143.9

181.8
188.5
204.7

371.9
381.6
388.3

95.5
109.1
118.7

210.0
216.6
219.5

April
May
June

622.2
628.2
632.2

14.0
13.6
13.6

317.1
317.9
321.5

5.5
6.3
4.9

171.6
178.5
181.0

559.7
573.4
583.3

157.0
158.6
159.5

215.6
230.0
224.9

410.4
403.7
426.1

115.8
111.6
1 If) O
11U . O

240.0
251.8
260.2

July
August
September

638.5
641.1
649.4

13.6

322.9
324.5
324.5

(NA)

181.6
176.7
181.8

598.7
606.4
619.7

169.0
166.9
164.7

235.6
251.8
257.1

418.9
431.8
rp421.6

112.9
120.5
118.4

264.3
267.3
272.0

October
November
December

660.4

182.4
pl80.0

621.0
p618.6

173.4
pl78.3

rp262.8
p261.6

rp411.1
p422.1

rpll3.1
pll2.8

rp260.2
p259.0

(1967 = 100)

1981
January
February
March
April
May
June

...

1982

1983

(NA)

See note on page 80.
Graphs of these series are shown on page 59.
Changes over 6-month spans are centered on the 4th month.

1

96




NOVEMBER 1 9 8 3

Bill

C. Historical Data for Selected Series
Year

Jan.

Feb.

Mar.

Apr.

May

June

July

Aug.

39. PERCENT OF CONSUMER INSTALLMENT LOANS D E L I N Q U E N T
(PERCENT)
1949...
1950...
1951...
1952...
1953...
1954...
1955...
1956...
1957...
1958...
1959...
1960...
1961...
1962...
1963...
1964...
1965...
1966...
1967
1968...
1969...
1970...
1971...
1972...
1973...
1974
1975...
1976...
1977...
1978...
1979.
1980...
1981...
1982...
1983...

2.22
2.70
2.20
2.03
1.87
2.05
1.61
1.52
1.50
1.57
1.56
1.71
1.81
1.69
1.59
1.69

2.81
2.73
2.08
1.91
1.83
2.07
1.62
1.46
1.50
1.63
1.55
1.60
1.84
1.69
1.60
1.68
1.79
1.75
1.86
1.57
1. 57
1.83

2.59
2.49
2 .37
2.42
2.12
2.37
2.42
2.48

2.01
2 54
2.71
2.46
2.37
2.48
2. 31
2.32
2.51
2. 39
62.

194
195
195
195
195
195
195
195
195
195
195
196
196
196
196
196
196
196
196
196
196
197
197
197
197
197
197
197
197
197

9
0
1
2
3
4
5
6
7
8
9
0
1
2
3
4
5
6
7
8
9
0
1
2
3
4
5
6
7
8

.
.
.
.
.
.
.
.
.
.

.
.
.
.
.
.
.
.
.
.

.
.
.
.
.
.
.
.
.
.

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

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

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

1
1
1
1

0
1
2
3

.
.
.
.

.
.
.
.

.
.
.
.

9
9
9
9

8
8
8
8

2.70
2.45
2. 31
1.98
1.75
1.99
1.55
1.54
1.47
1.70
1.50
1.64
1.85
1.67
1.59
1.59
1.69
1. 75
1.87
1.59
1.63
1.80
1.72

2.94
2.45
2.37
2.51

2.01
2 56
2.74
2.34
2.40
2.44

2.53
2.53
2.24

2.53
2.40
2.20

2.80
2.43
2.09
2.08
1.88
1.94
1.55
1.49
1.46
1.74
1.49
1.64
1.83
1.64
1.57
1.68

2.65
2.41
2.43
2.28
2.37
2.64
2.40
2. 21

2.91
2.22
2.06
2.25
1.82
1.91
1.50
1.51
1.52
1.75
1.43
1.68
1.79
1.65
1.68
1.63
1.76
1. 76
1.72
1.56
1.64
1.79

2.91
2.17
2.17
2.19
1.83
1.86
1.49
1.51
1.50
1.71
1.36
1.73
1.83
1.61
1.68
1.63

2
2
2
2
2
1
1
1
1
1
1
1
1
1
1
1

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

. •

2
2
2
2
2
2
2
2

.
.
.
.
.
.
.
.

60
39
41
42
45
77
22
19

Nov.

81.1
78.5
83.8
89.7
91.2
94. 7
90.8
93.2
96.2
102.6
97.8
99.9
102.7
99. 3
98.5
98.5
95.8

81.2
77.8
85.3
89.8
91.3
94.5
90.1
93.1
97.1
102.8
97.1
100.0
101.4
100.3
97.2
97.6
95.2

81.8
78.3
85.6
90.6
91.0
94.1
90.1
93.7
97.2
101.7
97.0
100.8
101.1
100.4
97.1
97.6
95.0

81.1
77.2
86.7
91.1
91.6
93.4
90.2
94.3
96.9
100.0
97.6
101.4
100.5
100.8
97.5
97.9
95.3

8
7
8
8
9
9
9
9
9
10
9
10
9
10
9
9
9

0
6
7
9
1
3
0
7
6
0
9
0
9
0
8
7
4

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

9
8
8
2
3
1
6
7
9
2
2
9
8
1
3
8
4

100.3
101.8
105.2
112.4
113.6
114.1

99.5
102.2
106.0
112.2
113.3
113.3

100.0
102.1
106.9
112.1
113.4
113.7

100.3
102.2
106.8
112.6
113.1
113.7

1
1
1
1
1
1

0
2
6
2
2
3

.
.
.
.
.
.

9
8
9
8
8
2

115.0
122.4
144.1
143.9
149.3
16,1.6

115.7
123.2
145. 6
143.0
151.2
163.5

115.7
123.5
147 • 7
143.4
150.7
163.5

124.4

125.2

125.7

126.8

144.0
151.8
162.5

144.3
152.9
163.4

144.2
154.0
163.7

183.9
202.4
226.9

185.6
201.8
224.2

188.0
203.4
224.5

192.0
205.2
226.9

196.8
206.2
229.1

201.3
207.9
229.6

2.6
. 6
. 3
. 3
. 3
. 4
. 9
. 3
. 2

3
5
9
4
7
7
4
5
1

2.70
2.23
2.05
1.99
1.97
1.84
1.47
1.48
1.51
1.60
1.67
1.79
1.70
1.61
1.65
1.71
1.81
1 77

2.69
1.97
2.23
1.85
2.02
1.79
1.44
1.49
1.55
1.60
1.75
1.7B
1.67
1.63
1.79

1.48
1.68
1.85
1. 90
2.00
2^59
2.36
2.36
2.42
2.59
2.70
2.28
2.19

2.67
>.O9
..15
L.92
.98
L.65
L.50
L.52
L.57

2.65
2,48
2. 53
2.41
2.35
2.45
2.53
2.37
2.24

2.29
2.19
2.24
2.34
2.50
2.66
2.42
2.23

. 8
. 6
. 7
. 9
. 9
. 5
. 0
. 7
. 6
. 8
0 . 6
0 . 6
. 3
0 . 0
. 8
. 0
. 8

79.4
77.8
88.7
90.1
91.1
92.6
91.2
95.4
97.1
100.0
101.1
101.1
98.8
99.7
97.9
98.5
94.9

79.6
79.8
88.3
90.2
92.1
93.0
91.0
96.1
98.2
98.8
101.6
101.4
98.8
99.9
97.5
98.3
95.3

7
8
8
8
9
9
9
9
10
9
10
10
9
9
9
9
9

1
1
1
1
1
1

1
2
7
2
4
3

1
1
1
1
1
1

4
6
0
9
4
2

99.7
104.5
108.2
112.9
112.0
113.1

1
1
1
1
1

1 2 7 . 6

128.4

144.5
154.6
164.2

1 4 5 . 3
1 5 5 . 5
1 6 4 . 4

146.7
156.5
165.4

131.6
142.4
147.1
157.1
165.9

1
1
1
1
1

202.4
207.8
228.6

203.0
208.7
227.7

201.7
211.1
228.2

200.8
215.2
229.3

0
0
0
1
1
1

9
9
9
9

102.8
96.4
98. 2
102. 3
101.2
103.3
98.6
97.5
98.9
103.5
98.4
98.4
102.8
99.3
100.0
100.6
100.0
100.0
100.4
99.0
99.4
104.8
103.1
99.5
96.7
97.8
108.3
100.5
100.5
101.6
99.1
99.2
99.8
102.2

101.4
95.4
98.9
102.6
101.7
103.4
97.5
98.1
99.1
104.2
98.3
99. 5
102.2
99.5
99.8
101.5
99.5
99.4
101.1
99.0
100.0
105.4
103.1
99.4
96.3
97.5
109.4
100.3
99.7
101.0
98.5
99.9
99.9
101.6

101.3
94.3
100.4
102.5
101.6
103.0
96.6
97.8
99.9
104.3
97.5
99.5
100.9
100.6
98.6
100.7
98.9
99.9
100.0
99.2
100.7
104.9
102.5
98.4
96.9
97.7
107.5
100.2
99.9
99.8
99.8
101.4
100.1
102.1

101.8
94.6
100.5
103.2
101.0
102. 5
96.4
98.2
99.9
103.1
97.4
100.3
100.7
100.8
98.6
100.8
98.7
99.7
100.2
98.8
101.5
104.5
102.3
98.3
96.1
97.8
106.9
99.9
100.1
99.8
98.3
103.3
99.9
102.4

100.7
93.1
101.5
103.6
101.5
101.6
96.4
98.6
99.5
101.2
97.9
100.8
100.2
101.2
99.1
101.2
99.0
99.9
100.2
98.7
101.4
104.7
101.7
98.0
96.2
97.6
104.6
99.4
100.3
99.4
98.2
105.0
100.0
102.0

100.2
92.4
102.5
101.2
100.9
101.2
96.6
102.0
99.3
101.4
99.4
100.3
99.5
100.6
100.0
101.3
98.0
99.6
100.6
99.0
101.4
104.6
101.1
97.2
96.1
97.9
102.6
99.2
100.2
99.1
98.6
104.9
99.3
100.9

III Q

IV Q

Annual

.55
L.65
L.76
1.68
1.64
1.76
1.70
1.65
1 74

2.94
2.45
2.37
2.51

1.56
1.64
1.79
1.78
1.85
1.99
2.61
2.63
2.40
2.38
2.44

2.67
2.09
2.15
1.92
1.98
1.65
1.50
L.52
L.57
L.55
L.65
L.76
L.68
L.64
L.76
L.70
1.65
1. 74
1.69
1.63
1.76
1. 90
1. 72
1.96
2. 27

2.59
2.36
2.36
2.42

2.47
2.40
2.36
2.45

2.67
2.09
2.15
1.92
1.98
1.65
1.50
1.52
1.57
1.55
1.65
1.76
1.68
1.64
1.76
1.70
1.65
1. 74
1.69
1.63
1.76
1. 90
1. 72
1. 96
2. 27
2.80
2^7
2.40
2.36
2.45

2. 80
2.47
2.40
2.36
2.45
2.64
2.57
2.37
2.18

2. 33
2.53
2.53
2.24

2.74
2.30
2.16

2.70
2.28
2.19

2.57
2.37
2.18

2.57
2.37
2.18

0
0
0
1
1
1

.
.
.
.
.
.

0
9
7
9
2
1

0
0
0
1
1
1

0
3
8
2
2
3

.
.
.
.
.
.

97.9
93.1
103.0
101.8
100.3
100.4
97.0
99.2
99.3
101.0
101.2
100.4
98.7
100.4
100.0
102.1
98.5
100.2
99.5
99.3
102.3
104.1
100.1
96.4
95.9
98.0
101.3
99.8
100.2
98.6
98.7
103.2
99.5
99.4

9 8 . 6
9 1 . 9
1 0 3 . 3
1 0 1 . 8
1 0 0 . 3
1 0 1 . 5
9 6 . 9
9 9 . 7
9 9 . 9
1 0 0 . 9
1 0 0 . 7
1 0 0 . 0
9 9 . 1
1 0 0 . 6
9 9 . 7
1 0 1 . 5
9 8 . 4
1 0 0 . 5
1 0 0 . 4
9 8 . 9
1 0 2 . 1
1 0 4 . 4
1 0 2 . 0
9 6 . 7
9 6 . 1
9 8 . 0
1 0 1 . 9
9 9 . 3
1 0 0 . 1
9 8 . 6
9 9 . 0
1 0 4 . 6
9 9 . 0
9 9 . 8

s series contains no revisions but is reprinted for the convenience of the user.
3
This series contains scattered revisions throughout.

2

2.91
2.22
2.06
2.25
1.82
1.91
1.50
1.51
1.52
1.75
1.43
1.68
1.79
1.65
1.68
1.63
1.76

AVERAGE FOR PERIOD

9
6
8
9
0
3
1
5
7
9
1 0
1 0
9
1 0
7
8
4

7
7
8
8
9
9
9
9
9
9

II Q

2.69
2.30
2.09
1.99
1.97
1.81
1.47
1.54
1.54
1.63
1.56
1.71
1.76
1.63
1.73
1.65

2.85
2.38
2.10
2.05
1.90
1.98
1.53
1.53
1.57
1.76
1.52
1.60
1.81
1.69
1.64
1.66

1.63
1.76
1. 90
1. 72
1. 96

8.5
1.3
8.8
9.7
3.0
3.7
2.3
6.4
0.2
8.8
1.8
2.4
8.8
9.6
7.8
7.0
6.0

79.3
81.6
89.5
90.7
94.4
92.9
91.6
96.5
100.7
99.2
98.5
102.4
98.1
99.6
98.6
96.9
95.6

9
0
0
1
1
1

9
4
8
2
1
3

.
.
.
.
.
.

7
0
6
8
9
5

3
4
4
5
6

5
1
8
8
7

.
.
.
.
.

5
9
1
1
2

100.0
104.9
109.8
112.8
113.3
113.5
120.8
140.8
143.1
148.5
159.4
168.1

200.6
218.1
230.4

200.8
220.7
230.7

185.8
202.5
225. 2

81.4
77.8
85.9
90.5
91. 3
94.0
90.1
93.7
97.1
101.5
97.2
100.7
101.0
100.5
97.3
97.7
95.2
97.1
99.9
102.2
106.6
112.3
113.3
113.6
116.7
125.1
145.0
144.2
152.9
163.2
174. 3
196.7
206.4
228.5

97.0
97.0
103.2
101.8
103.5
100.2
96.9
99.8
102.6
99.9
98.3
101.7
98.2
100.6
101.2
100.6
99.0
100.0
98.2
99.8
103.8
103.2
99.8
95.6
96.9
105.8
101.5
99.7
100.3
98.4
98.4
100.7
101.9
98.6

102.3
96.2
98.0
102.5
101.4
103.4
98.2
97.6
99.2
103.6
98.6
98.4
102.5
99.5
100.1
100.7
99.8
99.5
100.6
98.9
99.7
105.2
103.1
99.2
96.5
97.7
108.5
100.8
100.0
101.2
98.9
99.4
100.2
102.6

101.3
94.0
100.8
103.1
101.4
102.4
96.5
98.2
99.8
102.9
97.6
100.2
100.6
100.9
98.8
100.9
98.9
99.8
100.1
98.9
101.2
104.7
102.2
98.2
96.4
97.7
106.3
99.8
100.1
99.7
98.8
103.2
100.0
102.2

LABOR COST PER UNIT OF OUTPUT, MANUFACTURING—ACTUAL DATA AS A PERCENT OF TFt E N D
(PERCENT)




IQ

INDEX OF LABOR COST PER UNIT OF OUTPUT, TOTAL MANUFACTURING 2
(1967=100)

82.0
79.2
83.0
89.2
90.6
94.5
91.7
92.5
95.9
101.8
97.8
98.7
103.4
99.1
98.8
97.8
96.3
96. 8
99.5
101.5
104.6
111. 5
113.3
113.7

102.7
96.9
96.9
102.6
101.4
103.4
98.5
97.3
99.6
103.0
99.2
97.2
102.5
99.8
100.4
100.1
100.0
99.1
100.4
98.8
99.6
105.4
103.2
98.8
96.5
97.7
107.7
101.6
99.8
101.0
99.1
99.0
100.8
104.1

Dec.

1

END OF PERIOD
2.69
2.30
2.09
1.99
L.97
L.81
L.47
L.54
L.54
L.63
L.56
L.71
L.76
L.63
1.73
1.65

1 . 9 3

2
2
2
2
2
2
2
2

Oct.

A N D OVER

5 5
2 6
1 1
1 4
0 1
8 3
4 4
5 3
4 8
7 5
5 2
7 0
8 0
6 1
6 7
7 1
1.82
1 7 6
1.64
1.55
1.68
1.87

...

1. 85
1.99
2.61
2.63
2.40
2.38
2.44
2.45
2.74
2.30
2.16

81.7
7 9.4
81.7
89.2
90.5
94.5
91.4
92.1
96.4
101.2
98.5
97.5
103.1
99.7
99.3
97.4
96.3
95.8
99.3
100.9
104.7
111.8
113.1
112.5

62.
1949...
1950...
1951...
1952...
1953...
1954...
1955...
1956...
1957...
1958...
1959...
1960...
1961...
1962...
1963...
1964...
1965...
1966...
1967...
1968...
1969...
1970
1971...
1972...
1973...
1974...
1975...
1976...
1977...
1978...
1979...
1980...
1981...
1982...
1983...

2.85
2.38
2.10
2.05
1.90
1.98
1.53
1.53
1.57
1.76
1.52
1.60
1.81
1.69
1.64
1.66

Sept.

3 0 DAYS

97.9
95.3
102.3
101.7
101.2
100.7
96.6
99.8
100.3
99.7
101.6
100.7
98.8
100.6
99.7
102.0
98.9
99.6
98.5
99.9
102.4
103.8
99.4
96.0
96.4
99.8
102.0
99.7
100.0
98.4
98.4
102.1
100.7
99.3

81.6
79.0
82.8
89.4
90.8
94.6
91.3
92.6
96.2
101.9
98.0
98.7
103.1
99.4
98.9
97.9
96.1
96. 3
99.7
101.4
104.8
111.9
113.3
113.4
115.5
123.0
143.4
150.4
162.9

80.0
77.1
88.4
89.7
91.1
93.1
90.9
96.3
97.2
100.0
100.3
100.9
99.3
99.9
98.0
98.1
94.7
97.9
100.8
103.1
107.5
112.9
113.1
113.2

79.1
80.9
88.9
90.2
93.2
93.2
91.6
96.3
99.7
98.9
100.6
102.1
98.6
99.7
98.0
97.4
95.6
98. 6
99.8
104.5
108.9
112.8
112.4
113.4

117.5
127.6
141.0
145.5
155.5
164.7
177. 9
202.4
209.2
228.2

119. 9
136.0
142.5
147.9
158.2
167.1
180. 5
200.7
218.0
230.1

1
1
1

1
1
1
1
1
1
1
1
1
1
1
1
1
1
2
2

80.5
78.7
86.5
90.0
91.6
93.7
91.0
94.7
97.5
00.6
99.0
00.6
00.5
99.9
98.0
97.8
95.4
97. 5
00.0
02.8
07.0
12.5
13.0
13.4
17.4
27.9
43.6
45.2
54.3
64.4
75.9
96.4
09.0
28.0

3

96.3
96.8
102.6
100.9
102.1
101.3
97.8
99.9
102.2
99.6
101.7
101.7
98.9
100.4
100.2
100.7
99.5
100.7
98.2
99.2
102.7
103.5
99.0
96.0
96.7
102.3
101.1
99.9
100.0
98.5
98.1
101.3
101.4
99.1

AVERAGE FOR PERIOD

This series contains revisions beginning with

98.9
92.5
102.9
101.6
100.5
101.0
96.8
100.3
99. 5
101.1
100.4
100.2
99.1
100.5
99.9
101.6
98.3
100.1
100.2
99.1
101.9
104.4
101.1
96.8
96.0
98.0
101.9
99.4
100.2
98.8
98.8
104.2
99.3
100.0

97.1
96.4
102.7
101.5
102.3
100.7
97.1
99.8
101.7
99.7
100.5
101.4
98.6
100.5
100.4
101.1
99.1
100.1
98.3
99.6
103.0
103.5
99.4
95.9
96.7
102.6
101.5
99.8
100.1
98.4
98.3
101.4
101.3
99.0

99.9
94.8
01.1
02.2
01.4
01.9
97.2
99.0
100.0
101.8
99.3
100.0
100.2
100.4
99.8
101.1
99.0
99.9
99.8
99.1
101.4
104.4
101.4
97.5
96.4
99.0
104.6
100.0
100.1
99.5
98.7
102.0
100.2
101.0

1
1
1
1

(NOVEMBER 1983)

97

C. Historical Data for Selected Series—Continued
Year

Jan.

Feb.

Apr.

Mar.
95. RATIO

1949...
1950...
1951...
1952...
1953...
1954...
1955...
1956...
1957...
1958...
1959...
1960...
1961...
1962...
1963...
1964...
1965...
1966...
1967...
1968...

4.51
5.65
6.31
6.11
7.28
8.29
8.32
9.33
9.57
9.87
9.41
10.28
10.97
10.57
11.11
11.95
12. 54
12.97
12.80
12.46

1970...
1971...
1972...
1973...
1974...
1975...
1976...
1977...

12.76
12.70
12.84
13.34
13.77
1 3.46
1 >.77
1 3.30

4.60
5.72
6.29
6.06
7.38
8. 26
8.40
9.37
9.55
9.86
9.45
10. 38
10.93
10.59
11.30
11.94
12.70
12.97
12.85
12.34
12.67
12.75
12.73
12.67
13.35
13.80
13.49
12.56
13.34

1979...
1980...
1981...
1982...
1983...

1^ .77
1<!1.93
1 3.37
1 3.03

14.89
14.77
13. 38
12.99

June

May

July

Aug.

Sept.

Oct.

Nov.

Dec.

I Q

CONSUMER INSTALLMENT CREDIT TO PERSONAL INCOME'
(PERCENT)

4.65
5.70
6.23
6.09

4.76
5.93
6.12
6.16

4.90
6.06
6.07
6.30

8.27
8.52
9.45
9.56
9.76
9.48
10.51
10.85
10. 54
11.33
12.11
12.72
12.96
12.77
12.42
12.62
12.67
12.69
12.83
13.39
13.74
13.32
12.81
13.39
14.22
14.85
14.87
13.33
12.97

8. 30
8.61
9.44
9. 59
9.75
9.51
10.55
10.79
10. 59
11.42
12.13
12.80
12.96
12.74
12. 43
12.64
12.36
12.70
12.90
13.45
13.70
13.21
12.86
13.51
14.22
14.97
14.77
13.34
12.97

8.27
8.71
9.50
9.62
9.69
9.57
10.59
10.70
10.67
11.47
12.20
12.83
12.97
12.70
12.69
12.45
12.70
12.96
13.55
13.64
13.05
12.88
13.61
14.37
15.03
14. 56
13.34
12.93

1962...
1963...
1964. . .
1965...
1966...
1967...
1968...
1969...
1970...
1971...
1972...
1973...
1974...
1975...
1976...
1977...
1978...
1979...
1981...
1982...
1983...

1.027
1.065
1.157
1.177
1.218
1. 203
1.194
1.266
1.317
1.334
1. 304
1.333
1.294
1.278
1.254
1.223
1.220
1.226
1.274
1.245
1.271
1.327
1.326

1.023
1.074
1. 168
1.188
1.224
1. 204
1.194
1.273
1.327
1.316
1. 306
1.332
1.291
1.277
1.239
1.221
1.213
1. 231
1.266
1.251
1.276
1.339
1.312

1.028
1.096
1.176
1.188
1.229
1. 196
1.205
1.276
1.327
1.313
1. 309
1.329
1.288
1.277
1.234
1.221
1.211
1.232
1.263
1.259
1.282
1.343
1.303

1.022
1.067
1.187
1.182
1.227
1.191
1.213
1.285
1.327
1.299
1.317
1.338
1.284
1.275
1.230
1.224
1.214
1.232
1.259
1.262
1.289
1.372
1.290

1.243
1. 292
1.325
1.295
1.241
1.257
1.330
1.382
1.414
1. 391

1.254
1. 292
1. 319
1.289
1.243
1.261
1.334

1.263
1. 290
1.309
1.283
1.244
1.270
1.339

1.266
1. 300
1.305
1.279
1.241
1.281
1.336

1.414
1.393

1.408
1.389

1.412
1.387

5.20
6. 34
5.97
6.67

5.27
6.37
5.95
6.60

5. 31
6.48
5.98
6.67

5. 56
6.45
5.95
6.85

5.65
6.38
5.99
7.01

5.74
6.25
6.03
7.15

4.59
5.69
6.28
6.09

4.91
6.07
6.07
6.32

8.29
8.86
9. 55
9.63
9.43
9.77
10.73
10.57
10.80
11.61
12.32
12.91
12.93
12.60

8.26
9.02
9.49
9.64
9.42
10.01
10.78
10. 59
10.87
11 .68
12.34
12.98
12.89
12.58

8.12
8. 24
9. 13
9.47
9.73
9. 39
10. 14
10.83
10.61
10.90
11 . 73
12.42
12.75
12.84
12 .60

8. 14
8. 23
9. 17
9.44
9.78
9. 36
10. 27
10.83
10.56
10.97
11.80
12.52
12.91
12.82
12. 5°>

8. 26
8.20
9.21
9.52
9.81
9. 28
10.27
10.90
10.52
11 .04
11.88
12.51
12.91
12.81
12. 56

8. 29
8.26
9.26
9.52
9.87
9. 32
10.20
11 .00
10.53
11.10
11 .88
12.50
12.91
12.85
12. 52

8.27
8.41
9.38
9.56
9.83
9.45
10.39
10.92
10.57
11.25
12.00
12.65
12.97
12.81

8.28
8.73
9.48
9.60
9.68
9.57
10.61
10.70
10.67
11.46
L2.2O
L2.83
L2.95
L2.70

12.71
12.52
12.49
13.25
13.60
13.61
12.76
12.96
13.68

12.69
12.55
12.74
13.12
13.66
13.56
12.91
12.96
13.67

12.67
12. 54
12.77
13.13
13.68
13.61
12.82
12.99
13.75

12. 70
12. 53
12.85
13. 19
13.67
13.59
12. 79
13.05
13.80

12. 72
12 . 57
12.91
13.06
13.69
13.49
12. 77
13. 12
13.82

12.77
12. 52
12.96
13.02
13.69
13. 48
12. 78
13.06
13.90

12.71
12. 50
12.94
13.07
13.70
13.41
12.82
13.13
13.95

12.62
12.73
12.7 1
12.7 8
13.3 6
13.7 7
13.4 2
12.7 1
13. 3 4

L2.68
L2.44
L2.63
L3.04
3. 53
3.65
L3.01
2.90
3.60

15.02
14.32
13.23
12.98

14.92
14.06
13.05
12.91

14.93
13.99
12.96
12.93

15.00
13.83
12.97
12 .90

15.00
13.69
13.00
12.82

15.02
13.59
12.96
12. 79

14.97
13.45
12.96
12.83

14.84
14.86
13.36
13.00

L5.01
] 4.55
13.30
12.96

7S>8.
1949...
1950...
1951...
1952...
1953...
1954...
1955...
1956...
1957...
1958...
1959...
1960...
1961...
1962...
1963...
1964...
1965...
1966...
1967...
1968...
1969
1970..•
1971...
1972...
1973...
1974...
1975...
1976...
1977...
1978...
1979...
1980...
1981...
1982...
1983...

1.008
1.067
1.195

1.002
1.085
1.186

1 .012
1.104
1.195

1 .028
1.113
1.189

1 .010
1.125
1 .197

1.229
1.185
1.219
1.287
1.329
1.295
1.316
1.339
1.284
1.271
1.228
1.225

1.233
1.182
1.223
1.292
1.338
1.290
1.316
1.334
1.289
1.269
1.229
1.223

1. 227
1.179

1. 222
1.179

1 . 220
1 .184

1.287
1.340
1.309
1.313
1.327

1. 305
1.342
1.300
1. 298
1.317

1.268
1.224
1.220

1.235
1.252
1.267
1.296
1.358
1.282

1.242
1.248
1.269
1.300
1.352
1. 300

1.251
1.247
1.274
1.310
1.356
1.276

1. 258
1.264
1.313
1.302
1.271

1. 236
1.263
1. 320
1.312
1.270

1.244
1.270
1.331
1.294
1.273

1.283
1.337
1.383
1.411
1.388

1.290
1.334
1.372
1.417
1.380

1.302
1.346

1.133
1.192

1.156
1.190

1.225
1 .186

1.215

1.209

1. 309
1.337
1. 303
1 . 300
1.312

1.321
1. 336
1 . 301
1 . 303
1.312

1.317
1. 335
1 .310
1.315
1 .305

1.322
1.332
1. 313
1. 330
1.291

1.264
1.221
1.220

1 . 263
1.221
1.217

1.258
i.222
1. 212

1.255
1.215
1 . 212

1.251
1.222
1 . 218

1.257
1.245
1.275
1.319
1.352
1.275
1. 243
1.277
1.331
1.299
1.266

1.260
1.240
1.274
1.322
1.349
1.267

1. 266
1.235
1 .274
1.325
1.336
1.262

1.271
1.240
1.273
1.321
1.328
1 .258

1.267
1.245
1.271
1.325
1.324
1.263

1.235
1.289
1.333
1.297
1.261

1. 246
1.296
1.339
1.302
1.254

1.251
1.299
1.330
1 .296
1.254

1 . 247
1.296
1.332
1.292
1.248

1.304

1.304

1.313

1.318

1.328

1.432
1.359

1.435
1.355

1.425
1.357

1.415
1. 354

1.403
1.350

8.6
11.8
14.0

5.26
6.40
5.97
6.65
8. 03
8. 26
9.00
9.50
9.67
9.41
9.97
10. 78
10.59
10.86
11.67
12. 36
12.88
12.89
12. 59
12 . 39
12.69
12. 54
12.79
13.15
13.67
13.59
12.84
13.00
13.74

5.65
6.36
5.99
7.00
8.23
8.23
9.21
9.49
9.82
9.32
10. 25
10.91
10. 54
11.04
11.85
12.51
12.91
12.83
12. 56
12. 47
12. 73
12.53
12.94
13.05
13.69
13.46
12. 79
13. 10
13.89

5.10
6. 13
6.08
6.51
7.84
8.26
8.84
9.46
9.66
9.56
9.81
10.67
10.68
10.78
11. 56
12.27
12.82
12.91
12.66
12. 42
12.68
12.56
12.76
13.00
13.56
13.62
13.02
12.93
13.64

14.95
13.96
12.99
12. 91

15.00
13.58
12. 97
12.81

14.95
14.24
13. 16
12.92

1.066
1.191
1.189
1.230

1. 101
1.190
1.205
1.223

1 . 138
1.193
1.215
1. 216

1.096
1.185
1. 198
1.223

1.272
1.324
1.321

1.288
1.331
1.295

1.300
1.340
1.304

1. 258
1.320
1.334
1.308

1.229
1.295
1.332
1.307

1.331
1 291
1.277
1.242
1.222

1.337
1 286
1.272
1.229
1.224

1.319
1.283
1.265
1.222
1. 219

1. 303
1.285
1.255
1. 220
1. 214

1.322
1. 286
1. 267
1. 228
1. 220

1.230
1.268
1.252
1.276
1.336
1.314
1.263
1.253

1.236
1.253
1.266
1.295
1.361
1.291
1.251
1.264

1.256
1.244
1. 274
1.317
1.352
1. 273
1.241
1.279

1.268
1.240
1.273
1.324
1.329
1. 261
1.248
1.297

1.248
1.251
1.266
1.303
1.345
1.284
1.250
1.273

1.291
1.318
1.289

1.311
1.306
1.273

1.297
1. 267

1.297
1. 252

1.304
1.270

1.263

1.285

1. 303

1. 320
1.363

1. 293
1.345

1.379
1.413
1.390

1.381
1.412
1.386

1.373
1.433
1. 364

1.414
1.354

1.418
1.373

7.4
8.4
12.1
13.8
15.3
18.6

7.7
9.3
13.3
13.9
16.6
18.4

7.9
10.3
13.6
14.9
17.4
17.9

8.3
11.7
13.6
14.4
18.3
18.4

23.0
27.9
28.8
31.4
40.4
48.2
55.6
57.2
68. 7
73. 9
77. 7
93. 2
109. 7
125.2
147.0
155.7
160.1
186.9
196.7
161.6
176.3
190.5
197.1
209.9
229.6
226.3
232.3

24.3
30.0
28.1
33.5
42.1
50.2
55.9
60.2
70.5
73.3
81.7
97.1
113.0
131.2
151.7
154.1
163.7
190.8
188.6
164.0
182.4
190.4
200.2
215.2
230.0
226.1
229.8

26.0
29.9
28.8
35.5
43.7
52.4
55.2
63.2
72.6
74.1
85.7
102.1
116. 1
135.0
153.7
156.6
168.3
193.2
181.4
167.4
186.2
190.2
205.0
219.4
223.7
231.1
230.8

27.4
29.2
29.7
37.9
45.8
54.3
54.8
66.4
74.0
75.3
90.3
107.3
121.6
142. 1
154.3
157.0
176. 3
197.4
172.6
168.1
188.3
192.8
208.2
224.1
225.0
234.3
228.2

AVERAGE FOR PERIOD

7.1
8.3
12.1
14.1
14.6

7.4
8. 5
11.7
14.0
15.0

7.7
8.3
12.6
13.4
16.2

7.7
9.0
13.1
13.8
16.4

7.4
9. 3
13.4
14.0
16.5

7.9
9.6
13.5
14.0
16.8

7.9
9.9
13.7

8.0
10.3
13.5

7.9
10.8
13.5

8.0
11.4
13.1

8.2
11 .8
13.8

17.0

17.5

17.6

18.1
18.2

18.2
18.4

19.2
23.0
27.4
28.8
30.6
39.0
47.4
55.9
55.9
67.8
74.0
76.9
92.9
108.3
123.8
145.6
155.7
158.0
184.8
198.3
163.3
172.6
191.4
196.7
209.4
226.3
226.9
232.6

19.5
23.3
28.1
28.8
31.6
40.8
47.9
55.5
57.4
69.3
73.4
77.0
91.9
110.1
125.8
146. 9
154.9
159.8
186.4
198. 2
161.8
176.9
188.8
195.7
208.9
234.5
225.8
231.2

22.8
28.1
28.8
32.1
41.3
49.4
55.4
58.2
68.9
74.4
79.3
94.9
110.6
126.0
148.4
156.4
162.6
189.6
193. 7
159.7
179.3
191.4
199.0
211.4
228.1
226.3
233.2

23.6
29.1
28.6
32.4
41.8
49.1
55.9
59.8
69.4
73.4
80.5
95.2
111.2
129.6
149.8
155.5
161.7
188.8
190.1
163.5
181.8
190.4
199. 7
211.9
231.9
226.6
230.2

24.3
30.6
27.9
33.6
42.0
50.4
56.4
60.5
70.4
72.6
81.7
97.2
114.7
132.4
151.4
151.7
164.3
190.9
190.2
163.3
181.0
189.8
199.8
216.2
230.6
223.3
228.1

25.0
30.4
27.8
34.4
42.5
51.1
55.5
60.2
71.6
73.9
82.8
99.0
113.1
131.6
153. 9
155.0
165.0
192.6
185.5
165.1
184.5
191.1
201.0
217.4
227.6
228.3
231.2

25. 5
30.6
28.6
34.9
43.0
51.9
54.7
62.3
71.9
73.9
84.3
100.0
114.2
133.2

26.0
29.6
28.8
35.4
43.6
52.7
55.9
63.6
71.9
73.9
85.8
101.8
117.4
134.5

26.4
29.6
28.9
36.2
44.5
52.6
55.0
63.8
73.9
74.4
86.9
104.6
116.7
137.2

27.1
29.3
29.6
37.0
45.0
53.7
54.7
65.6
73.9
74.5
88. 3
105. 3
119.7
141.0

27.4
29.3
29.4
37.7
46.0
54.4
55.0
66.6
73.1
75. 7
90.4
107.9
122.8
141.2

153.9
155.5
164.8
190.7
183.6
166.9
186.0
187.9
203.3
218.2
226.9
230.7
229.9

153.2
156.4
169.3
195.7
181.3
166.6
186.4
191.6
205.3
221.8
220.0
229.6
230.9

154.0
157.9
170.9
193.1
179. 3
168.6
186.3
191.2
206.4
218.2
224. 1
233. 1
231.7

156.0
172. 7
196.4
175.4
168.8
186.0
190. 1
206.9
222.6
226.0
234. 5
225.5

157.9
176.0
198.0
172.6
166.0
188.9
193.4
207.8
225.1
222.8
234.5
230.6




Annual

1.078
1.167
1.184
1.224

J A P A N — I N D E X DF INDUSTRIAL PRODUCTION 2
(1967=100)

This series contains revisions beginning with 1980.

IV Q

AVERAGE FOR PERIOD

1.018
1.065
1.190

1.432
1.377

III Q

AVERAGE FOR PERIOD

5.07
6. 22
6.02
6.50
7.80
8.28
8.86
9.49
9.60
9.60
9.64
10.68
10.60
10.74
11. 50
12.26
12.85
12.92
12.66

108. RATIO, PERSONAL INCOME TO MONEY SUPPLY M2 1
(RATIO)
1949...
1950...
1951...
1952...
1953...
1954...
1955...
1956...
1957...
1958...
1959...
1960...

II Q

This series contains revisions beginning with 1978.

18. 5
18.7
22.1
27.6
28.9
30.2
39.0
46.4
54.9
54.7
67.1
74.9
75.7
92.2
108.8
122.3
144.0
156.0
157.2
180.2
197.7
169.8
169.6
190.1
194.9
209.9
224.5
226.3
233.9
228.4

7.8
9.9
13.2
14.3
16.9
18.3
20.4
25.2
29.2
28.8
34.6
43.0
51.3
55.4
61.8
71.4
74.2
83.8
100.0
115.1
133.4
151.7
155.8
167.1
192.1
184.8
165. 3
183.3
191.0
202.6
217.1
227.1
229. 5
230.3

(NOVEMBER 1983)

C. Historical Data for Selected Series—Continued
Year

IV Q

Annual

71.7
75.2
83.2
79.1
83.7
82.5
91.8
96.4
96.0
89.7
98.2
104.7
98.1
106.3
111.3
125.0
134.6
149.1
138.1
151.7
160.7
155.9
158.6
179.7
199.7
193.1
160.1
171.4
191.2
209.4
228.6
224.8
219.7
209.9

1949
1950
1951
1952
1953
1954
1955
1956
1957
1958
1959
1960
1961
1962
1963
1964
1965
1966
1967
1968
1969
1970
1971
1972
1973
1974
1975
1976
1977
1978
1979
1980
1981
1982
1983

68.8
82.1
80.1
80.1
84.0
83.8
95.8
97.2
95.1
87.0
101.5
101.8
99.4
110.2
116.7
125.0
139.2
147.9
141.5
150.5
161.2
153.3
164.7
182.5
202.0
188.3
158.1
174.4
199.9
221.5
227.6
204.5
220.7
204.9

68.4
88.0
79.2
75.1
84.1
86.7
98.1
97.3
96.1
87.8
102.6
99.1
101.4
111.6
119.3
126.1
141.4
146.6
143.3
151.8
161.7
155.1
168.2
184.0
201.6
182.6
162.3
177.3
204.0
224.8
232.4
207.5
220.2
199.8

4
7
4
4
5
3
5
4
6
8
101. 5
99. 0
104. 9
110. 7
122. 9
127. 4
145. 3
141. 2
147. 8
156. 3
157. 9
154. 8
171. 8
193. 0
198. 1
171. 5
165. 5
183. 9
208. 4
227. 1
227. 6
214. 7
215. 7
201. 1
70.
86.
78.
80.
83.
88.
98.
96.
94.
92.

Year

69.8
83.0
80.2
78.7
83.8
85.3
96.1
96.8
95.5
89.3
100.9
101.2
100.9
109.7
117.5
125.9
140.1
146.2
142.7
152.6
160.4
154.8
165.8
184.8
200.4
183.9
161.5
176.7
200.9
220.7
229.1
212.9
219.1
203.9

1949
1950
1951
1952
1953
1954
1955
1956
1957
1958
1959
1960
1961
1962
1963
1964
1965
1966
1967
1968
1969
1970
1971
1972
1973
1974
1975
1976
1977
1978
1979
1980
1981
1982
1983

0.0
0.9
3.3
1.5
0.7
-0.7
1.2
1.5
0.5
-1.2
0.9
2.1
-0.6
1.5
1.0
0.9
1.8
1.8
1.6
0.5
1.1
0.2
1.0
0.6
1.3
0.9
-1.0
0.9
1.1
1.2
0.9
-0.1
0.4
-0.9

-2.1
1.7
4.6
-0.7
0.8
-0.7
1.5
1.0
0.5
-1.2
2.1
0.6
0.3
1.1
1.0

1.2
1.1
0.4
0.9
1.0
1.2
1.2
-1.0

0.5
-0.4

-0.7
1.7
3.1
1.2
0.2
-0.6
1.5
1.0
0.7
0.0
0.3
0.5
1.0
1.0
1.1
0.7
1.3
1.5

1.3
0.6
0.6
1.1
1.1
0.7
0.1
0.7
1.6
1.1
0.5
-1.0
1.1
-0.2

-2.1
4.9
1.5
1.5
-1.2
0.3
1.7
1.0
-0.5
0.9
1.4
-0.8
1.1
0.8
0.9
1.0
1.2
2.3
1.6
0.9
0.7
0.1
0.3
0.8
2.0
1.0
0.0
0.2
0.9
1.1
-0.1
-0.6
0.5
-1.8

-1.2
2.3
3.1
0.9
0.1
-0.4
1.5
1.1
0.3
-0.4
1.2
0.6
0.4
1.1
1.0
0.9
1.4
1.9
1.3
0.9
1.0
0.3
0.7
0.9
1.4
1.0
-0.5
0.7
1.2
1.2
0.6
-0.4
0.6
-0.8

5.1
6.5
6.2
5.0
5.1
5.0
6.2
5.5
4.8
4.6
5.5
5.2
4.6
4.7
4.9
5.1
4.6
4.2
3.2
3.9
4.2
3.7
4.2
5.3
5.5
4.4
3.4
4.0
4.6
5.0
5.0
4.4
3.9
2.9

NOTE:

5.1
7.1
5.3
5.1
5.1
5.4
6.2
5.4
4.7
4.6
5.6
4.8
4.5
4.8
5.1
4.8
4.6
4.0
3.5
4.0
4.2
3.5
4.6
5.3
5.3
4.2
3.5
4.1
5.0
5.2
5.0
3.6
3.8
3.0

5.4
7.3
4.9
5.1
4.9
5.7
6.0
5.3
4.6
4.8
5.5
4.6
4.7
4.8
5.0
4.7
4.5
3.7
3.7
4.0
4.0
3.6
4.9
5.3
5.1
4.0
3.6
4.1
5.1
5.2
5.0
3.7
3.4
2.8

These series contain revisions beginning with 1980.




6.1
6.7
4.9
5.1
5.0
5.9
5.6
5.0
4.6
5.1
5.2
4.6
4.8
4.8
5.2
4.6
4.3
3.2
3.9
4.1
3.8
4.0
5.1
5.5
4.7
3.6
3.8
4.5
5.2
5.1
4.7
4.0
3.1
3.1

0.0
2.4
10.5
5.2
2.4
-2.5
4.6
6.0
2.1
-5.4
4.2
10.5
-3.2
8.3
5.7
5.4
12.3
13.1
12.4
4.6
10.4
1.6
10.5
6.3
16.3
12.7
-14.3
15.3
19.6
25.3
21. 5
-1.6
10.9
-25.7

-2.3
3.2
-2.7
6.1
4.3
2.3
-5.1
10.2
2.8
1.5
6.4
6.1
5.9
9.5
14.5
6.0
10.7
10.4
4.4
9.9
12.0
15.4
17.7
-14.6
17.3
23.3
30.8
26.4
3.0
15.0
-11.2

-1.7
4.9
10.4
4.3
0.7
-2.2
6.0
4.1
3.2
0.1
1.4
2.6
5.2
5.9
6.5
4.5
9.2
11.3
10.2
8.5
12.3
6.0
6.8
12.8
15.1
10.7
2.1
11.4
32.1
23.5
11.8
-25.4
33.6
-4.9

5.4
-4 5
1.3
7.1
4.3
-2.2
4.1
6.8
-4.2
5.8
4.5
5.6
6.7
8. 5
17.6
12.8
7.7
6.3
0.9
3.3
9.8
27.1
15.4
-0.8
3.3
17.1
26.2
-2.6
-15.1
14.3
-56.4

-3.1
6.8
10.3
3.1
0.4
-1.5
6.0
4.7
1.3
-1.5
5.7
3.0
2.3
6.3
6.0
5.6
9.9
14.1
10.3
7.9
9.8
3.2
7.7
10.2
18.5
14.1
-6.9
11.8
23.0
26.5
14.3
-9.8
18.5
-24.5

1949
1950
1951
1952
1953
1954
1955
1956
1957
1958
1959
1960
1961
1962
1963
1964
1965
1966
1967
1968
1969
1970
1971
1972
1973
1974
1975
1976
1977
1978
1979
1980
1981
1982
1983

10.0
8.9
9.5
9.3
9.2
9.4
9.0
10.2
10.6
9.9
9.2
9.7
9.2
9.1
9.0
9.3
10.2
10.9
10.6
10.6
10.6
10.6
10.0
10.2
10. 5
11.0
10.5
10.0
10.4
11.2
11.9
12.1
11.6
12.0

9. 7
9. 4
9. 5
9. 4
9. 3
9. 3
9. 4
10. 4
10. 5
9. 4
9. 3
9. 7
9. 2
9. 3
9. 1
9. 5
10. 4
11. 1
10. 6
10. 2
10. 7
10. 6
10. 0
10. 1
10. 9
10. 9
10. 2
1 0 . ,1
1 0 . ,6
1 1 . ,5
11. ,9
11. ,6
11. .9
11. ,5

9.1
9.9
9.5
8.4
9.6
9.4
9.9
10.6
10.7
9.0
9.6
9.4
9.1
9.3
9.2
9.7
10.6
11.0
10.4
10.2
10.8
10.5
10.0
10.1
11.0
11.0
10.1
10.3
10.7
11.6
12.2
11.7
12.0
11.1

9.
9.
9.
8.
9.

0
8
3
9
6

10.2
10.
10.
9.
9.
9.
9.
9.
9.

5
6
1
5
4
1
2
4

10. 8

10.9
4
5
8
2
0
4
8
8
0
2
1 11.
1 1,7 .
1 2 . ,1
1 1 . ,6
12. , 1
10. 8

10.
10.
10.
10.
10.
10.
10.
10.
10.
10.

9.4
9.5
9.4
9.0
9.4
9.3
9.6
10.4
10.6
9.4
9.4
9.6
9.2
9.2
9.2
9.6
10.5
11.0
10. 5
10.4
10.7
10.5
10.0
10.2
10.8
10.9
10.2
10.2
10.7
11.5
12.0
11.8
11.9
11.4

250. NET EXPORTS OF GOODS AND SERVICES IN CURRENT DOLLARS
(ANNUAL RATE, BILLIONS OF DOLLARS)

249. GROSS PRIVATE DOMESTIC FIXED INVESTMENT, RESIDENTIAL,
AS A PERCENT OF GNP
(PERCENT)
1949
1950
1951
1952
1953
1954
1955
1956
1957
1958
1959
1960
1961
1962
1963
1964
1965
1966
1967
1968
1969
1970
1971
1972
1973
1974
1975
1976
1977
1978
1979
1980
1981
1982
1983

Annual

248. GROSS PRIVATE DOMESTIC FIXED INVESTMENT, NONRESIDENTIAL, AS A PERCENT OF GNP
(PERCENT)

247. GROSS PRIVATE DOMESTIC INVESTMENT, CHANGE IN BUSINESS
INVENTORIES, AS A PERCENT OF GNP
(PERCENT)
1949
1950
1951
1952
1953
1954
1955
1956
1957
1958
1959
1960
1961
1962
1963
1964
1965
1966
1967
1968
1969
1970
1971
1972
1973
1974
1975
1976
1977
1978
1979
1980
1981
1982
1983

IV Q

II Q

IQ

245. GROSS PRIVATE DOMESTIC INVESTMENT, CHANGE IN BUSINESS
INVENTORIES, ALL INDUSTRIES
(ANN. RATE, BILLION DOLLARS)

243. GROSS PRIVATE DOMESTIC FIXED INVESTMENT, TOTAL, IN
1972 DOLLARS
(ANNUAL RATE, BILLIONS OF DOLLARS)

5.4
6.9
5.3
5.1
5.0
5.5
6.0
5.3
4.7
4.8
5.4
4.8
4.6
4.8
5.0
4.8
4.5
3.8
3.6
4.0
4.0
3.7
4.7
5.4
5.2
4.0
3.6
4.2
5.0
5.1
4.9
3.9
3.6
3.0

1949
1950
1951
1952
1953
1954
1955
1956
1957
1958
1959
1960
1961
1962
1963
1964
1965
1966
1967
1968
1969
1970
1971
1972
1973
1974
1975
1976
1977
1978
1979
1980
1981
1982
1983

7.9
3.4
1.7
5.7
1.3
1.7
3.6
3.4
8.0

3.8
7.8
5.7
6.3
10.7
7.9
7.5
7.0
4.1
3.9
6.5
7.3
-0.2
7.0
22.0
25.6
18.4
-2.1
-11.7
17.2
12.8
31.9
29.9

7. 6
3.0
3. 8
4. 0
0. 8
2. 3
2. 3
4. 9
7. 6
3. 2
0. 4
4. 7
6. 4
7. 0
7. 9
9. 4
10. 0
6.7
6. 7
4. 9
3. 7
8. 1
3. 5
-0. 3
11 . 4
11. 7
28. 5
15. 0
-1. 8
-4. 1
9. 1
22. 5
21. 1
3

6.5
0.9
5.8
2.0
1.3
2.6
3.3
5.6
7.4
3.5
2.1
6.1
6.1
6.7
7.3
10.1
9.2
5.7
6.3
4.4
3.9
6.6
3.9
1.4
18.5
7.8
24.9
12.2
-0.4
1.2
16.1
37.1
22.8
0.9

4.1
1.5
6.4
1.0
1.6
3.5
2.9
7.2
6.1
2.4
2.1
7.3
6. 3
6.0
8.8
10.0
8.1
6.2
5.3
3.7
5.2
5.5
1.7
2.1
19.8
12.1
28.1
9.4
-11.7
10.1
10.5
23.3
29.2
5.6

6.5
2.2
4.4
3.2
1.3
2.5
3.0
5.3
7.3
3.3
1.4
5. 5
6.6
6.4
7.6
10.1
8.8
6.5
6.3
4.3
4.2
6.7
4.1
0.7
14.2
13.4
26.8
13.8
-4.0
-1.1
13.2
23.9
26.3
17.4

(NOVEMBER 1983)

C. Historical Data for Selected Series—Continued
Year

IQ

HQ

III Q

IV Q

251. NET EXPORTS OF GOODS AND SERVICES AS A PERCENT OF
(PERCENT)
GNP
1949
1950....
1951....
1952
1953
1954
1955
1956....
1957
1958....
1959
1960
1961
1962...
1963
1964..• .
1965
1966
1967
1968
1969....
1970
1971....
1972
197 3....
1974.
1975
1976....
1977
1978
1979....
1980
1981
1982
1983

3.0
1.3
0. 5
1.7
0.4
0.5
0.9
0.8
1.8
0.9
0.2
0.7
1.5
1. 0
1.1
1. 7
1. 2
1. 0
0.9
0. 5
0.4
0. 7
0. 7
0.0
0. 5
1. 6
1. 7
1. 1
-0.1
-0.6
0. 7
0. 5
1. 1
1. 0

3.0
1.1
1. 2
1.2
0. 2
0.6
0. 6
1. 2
1. 7
0. 7
0.1
0.9
1. 2
1. 2
1.3
1. 5
1. 5
0. 9
0. 8
0. 6
0. 4
0. 8
0. 3
0. 0
0. 9
0. 8
1. 9
0. 9
-0. 1
-0. 2
0. 4
0. 9
0.7
1. 1

2.5
0.3
1. 7
0.6
0.4
0.7
0.8
1. 3
1.6
0. 8
0.4
1.2
1.2
1. 2
1.2
1.6
1. 3
0. 7
0. 8
0. 5
0. 4
0. 7
0. 4
0. 1
1. 4
0. 5
1. 6
0. 7
0. 0
0. 1
0. 7
1. 4
0.8
0. 0

1.6
0.5
1.9
0.3
0.4
0.9
0.7
1.7
1.4
0.5
0.4
1.4
1.2
1.0
1.4
1.5
1.1
0. 8
0. 6
0.4
0. 5
0. 5
0. 2
0. 2
1. 4
0. 8
1. 7
0. 5
-0. 6
0. 4
0.4
0. 9
1.0
0. 2

253. IMPORTS OF GOODS AND SERVICES IN CURRENT DOLLARS
(ANNUAL RATE, BILLIONS OF DOLLARS)
1949
1950....
1951....
1952
1953... .
1954
1955....
1956....
1957....
1958
1959....
1960 .
1961....
1962....
196 3....
1964...
1965
1966.
1967....
1968.
1969
1970.
1972!!!!
1973....
1974.!!!
1975....
1976.
1977!!!!
1978.
1979 .
1980.
1981....
1982
1983

10.1
10. 1
15. 6
15.6
16. 5
15. 5

16.9
19.8
21.0
20. 4
22.4
23.9
22. 3
24. 8
25.6
27. 6
29.1
36. 0
40. 6
45. 7
45. 9
57.1
61.0
74.3
88. 8
114.7
130. 3
145. 6
180.0
207. 2
238. 9
322. 5
335. 4
328. 5

9. 9
10.8
15. 9
15. 3
17. 1
16. 9
17.9
19. 8
21.1
21. 0
23. 6
24. 0
22. 5
25. 4
26. 4
28. 4
32. 7
37. 0
40. 1
46. 9
55. 3
58. 6
65.6
74.0
93. 5
134.6
120. 7
153. 4
186.8
217. 2
259. 1
314. 2
348. 1
331. 2

9. 5
13.6
15.0
15.9
17. 0
16. 0
18. 3
20. 1
20. 6
20. 7
24. 0
23.4
24. 0
25. 6
27. 2
29. 1
33. 0
39. 4
40. 6
49. 9
55. 6
59.6
67.9
76.5
95.6
139.8
127. 8

161.4
187.2
222. 9
274. 5
300. 5
344. 7
345. 0

9. 6
14.3
14. 7
17.0
16. 3
16. 2
18. 9
19.4
20. 5
21.8
23. 6
22. 3
24. 5
26. 0
27. 3
30. 0
34. 4
39. 8
42. 8
49. 8
56. 6
60. 7
64.3
82.1
103. 6
142. 1
133. 8
168.1
192.9
232.0
300. 0
322.0
341. 7
316. 1

256. EXPORTS OF GOODS AND SERVICES IN 1972 DOLLARS
(ANNUAL RATE, BILLIONS OF DOLLARS)
1949
1950....
1951
1952
1953
1954....
1955
1956
1957
1958....
1959 ...
1960
1961 ...
1962
1963....
1964
1965
1966....
1967....
1968....
1969
1970....
1971
1972
1973
1974....
1975
1976
1977
1978
1979
1980
1981
1982
1983
NOTE:

100

27. 7
22.6
25.8
30.8
26.3
25. 7
30.3
33.0
39. 4
33. 0
32.1
37. 3
39. 9
40. 0
41.9
50.0
46.7
54.1
56.9
59. 0
57.1
69.4
70. 7
74.9
91.0
108.0
104.0
107.6
111.0
118.1
138.8
164.4
160.6
151.8

27. 3
23.3
28. 2
28.0
26.8
28. 4
29.7
34.8
39. 1
33.2
32. 7
38. 2
37. 8
42. 6
44.8
49.2
53.6
53.8
56.1
60.1
67. 4
71. 5
71. 2
74.2
95.8
111.4
100. 3
109.3
113.9
124.3
140.4
161.0
160.7
154.5

25.6
23.8
30.0
26.2
27.0
27. 9
31.2
36. 2
37. 7
33.2
35. 4
38. 9
39. 4
42. 6
45.2
50.6
53.1
54.6
56.3
63. 6
67. 2
70. 6
74. 2
78.2
99.8
107.5
102. 5
111.5
115.2
128.8
149.2
156.4
159.0
146.4

These series contain revisions beginning with 1980.




22. 6
24.6
30.5
26.6
26.3
29. 3
31.4
37.1
35. 6
33.2
34. 9
39. 2
40. 3
42. 2
47. 3
51.4
53.6
55.1
57.4
62.3
68. 3
70.4
67.7
82.5
102.4
106.9
107.4
111.9
111.4
135.6
156.4
154.7
158.7
136.5

Annual
AVERAGE
2.5
0.8
1. 3
1.0
0.4
0.7
0.8
1. 2
1. 6
0. 7
0.3
1.0
1.3
1•1
1.2
1. 6
1. 3
0.8
0. 8
0. 5
0.4
0. 7
0. 4
0. 1
1. 0
0. 9
1. 7
0. 8
-0. 2
-0. 1
0. 6
0. 9
0.9
0. 6

AVERAGE
9. 8
12. 2
15.3
15.9
16. 7
16. 2
18. 0
19. 8
20. 8
21. 0
23.4
23 . 4
23 . 3
25.4
26. 6
28. 8
32 . 3
38. 1
41. 0
48. 1
53. 3
59. 0
64. 7
76. 7
95.4
132.8
128. 1
157. 1
186.7
219. 8
268. 1
314. 8
342 . 5
330. 2

AVERAGE
25. 8
23.6
28.6
27.9
26.6
27.8
30.7
35.3
38.0
33.2
33.8
38. 4
39. 3
41.8
44.8
50.3
51.7
54.4
56.7
61.2
65.0
70.5
71.0
77.5
97.3
108. 5
103.5
110.1
112.9
126.7
146.2
159.1
159.7
147.3

Year

I Q

II Q

III Q

IV Q

2 52. EXPORTS OF GOODS AND SERVICES ] N CURRENT DOLLARS
ANNUAL RATE, BILLIONS OF DOLLARS)
1949
1950
1951
1952
1953
1954
1955
1956
I957
1958
1959
1960
1961
196 2
196 3
1964
1965
1966
196 7
1 968
196 9
1970
1971
1972
1973
1974
1975
1976
1977
1978
1979
198O
1981
1982
1983

18.0
13.5
17.3
21. 3
17.8
17.2
20.5
23. 2
29.0
24. 2
23.5
27.7
30.0
30. 5
31.9
38. 3
36.9
47. 5
49. 8
49. 7
63.6
68. 4
74.O
95. 8
136. 8
156. 0
164. 0
177. 9
195. 6
256. 1
335. 3
367. 3
358. 4

17.5
13.8
19. 7
19.3
18.0
19.2
20.2
24. 6
28. 7
24. 2
24.0
28.7
28. 9
32. 4
34.3
37.8
42. 6
43. 8
46. 8
51. 8
59. 0
66. 7
69. 1
73.8
105. 0
146. 3
149. 2
168. 4
185. 1
213.1
268. 2
336. 8
369. 2
364. 5

15.9
14.5
20. 7
17.9
18.3
18.7
21.5
25.7
28. 0
24. 2
26.0
29.5
30.0
32. 3
34.6
39. 2
42. 3
45. 0
46. 9
54. 3
59. 5
66. 1
71. 8
78. 0
114.1
147. 5
152. 7
173. 6
186. 8
224. 0
290. 6
337. 6
367. 5
346. 0

12.5
6. 8
6.4
11.7
5. 0
5. 2
8. 4
7.7
13. 2
6. 5
2. 1
6.0
10.4
6.6
7.4
14.0
9.0
8. 2
6.2
2. 2
1.2
3. 2
4.7
-1.9
7. 7
28.2
32. 1
26. 7
22.3
19. 1
33.4
49. 8
48. 3
35. 2

12.1
6. 8
9. 5
9. 0
4. 4
6. 7
6. 3
9. 6
12. 6
5. 6
1.2
6.8
8.0
8. 5
9.6
12. 3
11. 2
7. 1
6. 0
2. 2
0.4
4. 5
0.3
-0.4
13.7
28.9
33. 5
25. 9
22.6
22. 4
31. 5
52. 6
44. 1
33.4

10. 7
4. 3
12. 2
6. 1
4. 8
7. 3
7. 5
10. 5
11.9
5. 9
3.6
8. 1
7. 7
8.0
9. 2
12. 8
10.6
5. 1
5.4
2.0
0. 2
4. 3
1.7
2.4
19. 4
26.2
30.8
25.6
24.9
25.3
39.8
53. 4
39. 8
24.0

16.3
14.4
19.7
19.1
18.0
18.7
21.0
25.0
28.1
24. 2
24.8
28.9
29.9
31.8
34.2
38.8
41.1

48. 1
53.5
61.9
66. 2
66. 0
84. 1
123.5
154. 2
161. 9
177. 5
181. 2
242. 1
310. 5
345. 4
371.0
321. 6

47. 3
52.4
57. 5
65. 7
68. 8
77.5
109. 6
146. 2
154.9
170. 9
182. 7
218. 7
281.4
338. 8
368.8
347. 6

7. 4
5. 6
12. 5
4.9
5. 0
8. 4
7.1
12. 5
9. 5
4. 3
3. 8
9.8
7.8
7.0
11. 3
12.4
9.8
5.4
3.9
1. 2
1.8
3. 6
-0.2
2.9
21. 2
27.8
32. 3
23. 4
18.1
29. 3
44.2
45. 4
39. 9
23.0

257. IMPORTS OF GOODS AND SERVICES IN 1972 DOLLARS
(ANNUAL RATE, BILLIONS OF DOLLARS)
1949
1950
1951
1952
1953
1954
1955
1956
1957
1958
1959
I960
1961
196 2
196 3
1964
1965
1966
1967
1968
1969
1970
1971
1972
1973
1974
1975
1976
1977
1978
1979
1980
1981
1982
1983

15. 2
15.9
19.4
19. 1
21. 3
20. 5
21.9
25.3
26. 2
26.5
30.0
31. 3
29. 5
33. 3
34.5
36.0
37.7
45.8
50.7
56.8
55.8
66. 2
66.0
76.9
83.3
79.8
71.9
80.9
88.7
99.0
105.4
114. 5
112.4
116.6

15. 3
16.5
18.7
19.0
22.4
21.8
23.4
25.2
26.4
27.6
31. 5
31. 5
29. 8
34.1
35.2
36.9
42.4
46.7
50.2
57.9
67.0
67.0
70.9
74.6
82.1
82. 5
66.8
83.3
91.3
101.9
109.0
108.4
116.6
121.1

14.9
19.5
17.8
20. 1
22.2
20. 6
23.8
25.7
25.8
27.3
31.8
30.7
31.7
34.6
36.0
37.9
42.5
49.5
50.9
61.5
67.0
66.3
72.5
75.8
80.4
81.3
71.7
85.9
90.3
103. 5
109.4
102.9
119.1
122.4

AVERAGE

13.8
15.8
21.0
18.0
17.8
19. 7
21.8
26. 6
26. 6
24. 2
25. 7
29.5
30.8
32.0
36.1
40. 0
42. 5

2 55. NET IZXPORTS OF GOODS AND SERVICES IN 1972 DOLLARS
(ANNUAL RAT :, BILLIONS OF DOLLARS)
1 949
1950
1951
1952
1953
1954
1955
1956
1957
1958
1959
I960
1961
196 2
196 3
1964
1965
1966
1967
1968
1969
1970
1971
1972
1973. . .
1974
1975
1976
1977
1978
1979
1980.
1981 .
1982
1983

Annual

15. 2
19.0
18.0
21.7
21. 3
20.9
24.4
24.6
26.1
28.9
31.1
29.4
32.5
35. 2
36.0
39.0
43.9
49.7
53.5
61.1
66.5
66.8
67.9
79.6
81.2
79.1
75.1
88.5
93.2
106.2
112.2
109.3
118.8
113.5

AVERAGE
10. 7
5. 9
10.1
7.9
4. 8
6. 9
7. 3
10. 1
11.8
5. 6
2.7
7.7
8. 5
7.5
9.4
12.8
10. 1
6. 5
5.4
1. 9
0.9
3. 9
1.6
0.7
15. 5
27.8
32.2
25. 4
22.0
24.0
37. 2
50. 3
43.0
28.9

AVERAGE
15. 2
17.7
18.5
20.0
21.8
20.9
23.4
25.2
26.1
27.6
31.1
30.7
30.9
34.3
35.4
37.5
41.6
47.9
51.3
59.3
64.1
66.6
69.3
76.7
81.8
80.7
71.4
84.7
90.9
102.7
109.0
108.8
116.7
118.4
(NOVEMBER 1983)

C. Historical Data for Selected Series—Continued
Year
260.

II Q

36. 7
37.7
49.6
70.9
81. 7
79.5
74.3
77.2
86.2
91.2
97.8
97.3
105.0
116.1
122.1
128. 3
131.6
150.0
174.9
192.4
204.5
216.4
229.7
249.7
264.9
286.8
327. 7
357.0
377.9
412.8
456.9
517.6
576.3
629.8

1949
1950
1951
1952
1953
1954
1955
1956
1957
1958
1959
1960
1961
1962
1963
1964
1965
1966
1967
1968
1969
1970
1971
1972
1973
1974
1975
1976
1977
1978
1979
1980
1981
1982
1983
262.

Annual

38.4
36.9
56. 7
75.5
82.6
75.4
74.1
79.3
86.6
94.2
98.0
99.3
106.8
116.8
121.3
130.0
135.6
155.3
177. 3
198.6
207.4
217.7
232.4
251. 5
266.3
300.6
333.6
358.1
390. 7
424.4
464.5
535.5
583.5
631.6

39.1
38.0
64.4
77.5
82.4
74.6
75.4
79.7
87.5
96.1
97.5
101.8
108.4
118.8
124. 3
130.0
140.1
162.0
182.0
201.0
210. 7
221.1
236.4
252.9
268.9
309. 2
344.0
362.8
398. 7
439.3
478.5
539.1
600.3
655.7

39.2
41.4
69.6
78.3
83.4
73.4
76.2
81.3
88.1
98.7
97.0
102.7
112.3
120.4
127.0
130.9
146. 1
167.3
186.5
204.0
212.4
225.3
240.9
258.3
281.6
319.7
354.3
370.4
408.0
451.1
497.6
559.0
622.8
679.7

19.8
18.6
28.7
48.3
57.2
52.8
44. 5
44.9
50.3
51.6
54.3
52.3
55.3
63.0
64.9
65.9
63.9
73.6
88.6
96.0
97.0
98.0
95.8
102.7
103.0
103.9
119.2

20. 7
17.4
35. 1
52.2
58.1
48.0
43.7
46.2
49.9
53.6
54.3
53.1
56.9
63.0
63.3
65.8
65.8
76.8
89.4
98.8
97.2
95.8
95.0
102.8
100.4
109.6
120.1

20. 7
18.0
42.3
54.3
57.2
46. 2
44. 7
45.8
50.1
54.4
53.7
54.6
57.7
64. 1
64.5
64.7
67.6
81.5
92.1
98.6
98.3
94.2
96.6
100.4
98.8
112.7
123.7

135.8
147.3
164.4
188.1
215.7

142.2
149.2
163. 2
199.0
220.4

146.2
156.1
168.0
194.5
232.4

20. 9
47. 2
54.6
57.6
44.8
44.9
46.7
49.6
55.9
53.3
54.8
59.6
64. 8
65.9
64.5
71.8
83.5
93.7
98.6
97.8
95.0
97.4
100.8
105.8
117.8
127.9
4. 3
149.5
161.8
177.8
206.6
248.5
9. 2

38.4
38.5
60. 1
75.6
82.5
75.8
75.0
79.4
87.1
95.0
97.6
100.3
108.2
118.0
123.7
129.8
138.4
158.7
180.2
199.0
208.8
220.1
234.9
253.1
270.4
304. 1
339.9
362.1
393.8
431.9
474.4
537.8
595.7
649.2

7.6
7.0
9.0
14.1
15.6
14.6
11.5
10.9
11.4
11.8
11.4
10. 3
10.9
11.4
11.2
10. 5
9.6
10.0
11.3
11.4
10.5
10.1
9.1
9.0
8.0
7.5
8.1
7.6
7.4
7.3
7.0
7.3
7.5
8.3
NOTE:

8.1
6.3
10.7
15.3
15. 7
13.2
11.0
11.0
11. 3
12.2
11.1
10.5
11.0
11.2
10.7
10.4
9.7
10.2
11.3
11.4
10.4
9.7
8.9

8.8
7.7
7.7
7.9
7.4
7.5
7.0
6.9
7. 7
7.6
8.0

8.0
6.1
12.6
15.6
15. 5
12.6
11.0
10.8
11.1
12.0
11.0
10.7
10.9
11.3
10.7
10.1
9.7
10.7
11.4
11.1
10.3
9.4
8.9
8.4
7.4
7.8
7.8
7.5
7.5
7.1
6.8
7.4
7.7
8.5

20.4
18.7
38. 3
52.4
57.5
47.9
44.5
45.9
50.0
53.9
53.9
53.7
57.4
63.7
64.6
65.2
67.3
78.8
90.9
98.0
97.6
95.7
96.2
101.7
102.0
111.0
122.7
129. 2
143.4
153.6
168.3
197.0
229.2
258.7

These series contain revisions beginning with 1980.




8.2
7.7
8.0
7.9
7.6
7.5
7.1
7.1
7.6
8.2
9.0

IQ

IV Q

II Q

Annual

93.0
98.6
115.7
152.9
167.7
162.6
152.7
152.1
160.1
165.0
171.6
169.2
179.4
191.3
195.8
201.7
202.3
221.2
244.2
256.5
258.6
252.7
250.0
254.5
254.6
257.5
263.0
267.0
265.6
2 70.4
276.4
284.0
285.6
289.4

96.8
96.2
128.5
159.4
170.2
155.6
150.9
154.0
161.1
168.7
171.3
172.4
181.0
191.8
195.1
203.4
207.2
224.8
247.0
260.9
259.2
249.6
248.3
253. 2
251.1
260.8
263.0
264.9
269.0
273.6
276.8
286.8
284.1
285.8

99.0
95.5
141.2
163. 7
170.0
153.8
153.5
152.9
161.6
171.0
170.2
174.4
182.7
194.6
199.3
202.3
211.8
234.0
250.6
262.2
256.8
250.9
250.6
252.6
251.3
260.9
266.6
264.3
270.8
276.8
278.8
284.0
286.8
292.2

98.1
102.0
149. 2
163.3
172.0
151. 7
152.0
154.8
162.0
174.7
169.3
175.4
188.4
195.0
200.2
203.1
217.7
238.7
252.2
261.1
255.0
251.0
251.5
252.1
256.4
261.8
268.3
264.5
271.4
277. 7
281.2
282.5
289.6
299.7

96.8
98.1
133.7
159.8
170.1
156.0
152.3
153.5
161. 2
169.8
170.6
172.8
182.9
193.2
197.6
202.6
209.8
229.7
248. 5
260.2
257.4
251.1
250.1
253.1
253.3
260.3
265. 2
265.2
269.2
274.6
278.3
284. 3
286.5
291.8

FEDERAL GOVERNMENT PURCHASES OF GOODS AND SERVICES IN
1972 DOLLARS
(ANNUAL RATE, BILLIONS OF DOLLARS)

1949
1950
1951
1952
1953
1954
1955
1956
1957
1958
1959
1960
1961
1962
1963
1964
1965
1966
1967
1968
1969
1970
1971
1972
1973
1974
1975
1976
1977
1978
1979
1980
1981
1982
1983

48.2
48. 1
65.0
100.7
113.5
103.9
89. 5
86.6
91.0
90.9
92.3
88.9
92.6
102.2
102.2
101.8
96.8
106.5
122.5
127.8
123.6
115. 1
105.6
104.3
98.9
95.3
96.8
96.5
97.6
98.8
102.2
105.8
107.3
114. 5

49.9
45.4
77.0
106.3
115.9
96.5
86.8
87.6
91.3
93.2
92.0
90.4
94.6
102.1
100.6
101.3
99.0
108.8
124.6
129.5
123.5
110.9
102.6
103.3
94.9
96.9
96.5
96.3
100.2
99.0
101.0
109.3
107.9
110.3

50.3
44. 5
89. 5
111.6
114.4
93.3
89. 2
85.9
90.7
93.9
90.8
91.1
95.4
103.7
102.3
99.1
100.5
116.8
127.1
128.8
120.8
108.8
104.1
101.0
93.5
96.8
98.1
96.8
102.2
101.1
101.9
106.2
111.8
116.9

48.6
51.0
97.4
110.0
115.1
90.8
87.2
87.2
89.5
96.0
90.3
91.3
98. 7
103.2
102.0
98.6
104.7
118.3
126.3
126.5
119.1
107.5
102. 7
98.1
96.3
97.5
98.2
97.4
101.8
102.4
103.4
104.2
114.5
124.4

49.2
47.3
82.2
107.2
114.7
96.1

88.2
86.8
90.6
93.4
91.4
90.4
95.3
102.8
101.8
100.2
100.3
112.6
125.1
128.1
121.8
110.6
103.7
101.7
95.9
96.6
97.4
96.8
100.4
100.3
102.1
106.4
110.4
116.6

266.
STATE AND LOCAL GOVERNMENT PURCHASES OF GOODS AND
SERVICES IN CURRENT DOLLARS
(ANN. RATE, BILLION DOLLARS)

8.0
6.8
13.9
15.2
15.9
11.9
10.9
10.8
11.2
12.0
10.8
10.9
11.0
11.3
10.8
9.9
10.0
10.8
11.4
11.0
10.2
9.4
8.8

1949
1950
1951
1952
1953
1954
1955
1956
1957
1958
1959
1960
1961
1962
1963
1964
1965
1966
1967
1968
1969
1970
1971
1972
1973
1974
1975
1976
1977
1978
1979
1980
1981
1982
1983
263.

FEDERAL GOVERNMENT PURCHASES OF GOODS AND SERVICES
AS A PERCENT OF GNP
(PERCENT)

1949
1950
1951
1952
1953
1954
1955
1956
1957
1958
1959
1960
1961
1962
1963
1964
1965
1966
1967
1968
1969
1970
1971
1972
1973
1974
1975
1976
1977
1978
1979
1980
1981
1982
1983

Year

261. GOVERNMENT PURCHASES OF GOODS AND SERVICES, TOTAL,
IN 1972 DOLLARS
(ANNUAL RATE, BILLIONS OF DOLLARS)

FEDERAL GOVERNMENT PURCHASES OF GOODS AND SERVICES IN
CURRENT DOLLARS
(ANNUAL RATE, BILLIONS OF DOLLARS)

1949
1950
1951
1952
1953
1954
1955
1956
1957
1958
1959
1960
1961
1962
1963
1964
1965
1966
1967
1968
1969
1970
1971
1972
1973
1974
1975
1976
1977
1978
1979
1980
1981
1982
1983
265.

IV Q

GOVERNMENT PURCHASES OF GOODS AND SERVICES, TOTAL, IN
CURRENT DOLLARS
(ANNUAL RATE, BILLIONS OF DOLLARS)

13.1
11.1
10.9
11.2
12.0
11. 1
10.6
11.0
11.3
10.8
10.2
9.8
10.4
11.4
11.2
10.4
9.6
8.9
8.6
7. 7
.9
.5
.5
.1
.0
7.5
7.8

1949
1950
1951
1952
1953
1954
1955
1956
1957
1958
1959
1960
1961
1962
1963
1964
1965
1966
1967
1968
1969
1970
1971
1972
1973
1974
1975
1976
1977
1978
1979
1980
1981
1982
1983

16.9
19.1
20.9
22.6
24.5
26.7
29.8
32.3
35.9
39.5
43.6
44.9
49.7
53.1
57.2
62.4
67.7
76.4
86.3
96.4
107.5
118.4
133.9
147.0
161.9
182.8

208.5
230.4
242.1
265.5
292.5
329.6
360.5
380.0

17.7
19.4
21.6
23.3
24.4
27.4
30.3
33.1
36.7
40.6
43.7
46.2
49.9
53.8
58.0
64. 2
69.8
78.5
88.0
99.7
110.3
122.0
137.4
148.7
165.9
191.0
213.5
231.8
248.4
275.3
301.2
336. 5
363.2
387.5

18. 5
20.0
22.1
23.1
25.1
28.4
30. 7
33.9
37.5
41.7
43.8
47.2
50.8
54.7
59.8
65.3
72.6
80.5
89.9
102.3
112.4
126.9
139.9
152.5
170.2
196.6
220.3
233.4
252.5
283.2
310.5
344.6
367.9
394.0

34.6
38.5
42.7
43.7
47.9
52. 7
55.6
61.2
66.4
74.3
83.9
92.9
105.4
114.6
130.3
143.4
157.5
175.9
201.9
226.4
236.2
258.4
289.3
319.8
352.4
374.3
400.5

18.0
19.8
21.8
23.2
25.0
27.8
30.6
33.5
37.1
41.1
43.7
46.5
50.8
54.3
59.0
64.6
71.1
79.8
89.3
101.0
111.2
124.4
138.7
151.4
168. 5
193.1
217.2
232.9
250.4
278.3
306.0
340.8
366. 5
390.5
(NOVEMBER 1 9 8 3 )

101

C. Historical Data for Selected Series—Continued
Year

I Q

ll Q

IV Q

HI Q

267. STATE AND LOCAL 3OVERNMENT PURCHASES OF "OODS AND
SERVICES IN 1972 DOLLARS
(ANNUAL RATE, BILLIO N DOLLARS)
1949....
1950....
1951....
1952
1953....
1954
1955
1956....
1957....
1958
1959....
1960
1961....
1962....
1963....
1964....
1965....
1966....
1967..
1968
1969....
1970
1971....
1972....
1973
1974....
1975....
1976.
1977....
1978....
1979....
1980....
1981
1982
1983....

44.8
50.4
50.7
52.2
54.3
58.7
63.3
65.5
69.2
74 2
79.3
80.3
86.8
89.1
93.6
99.9
105. 5
114. 7
121 7
128 7
135.0
13 7 6
144. 4
150 2
155 7
162.2
166. 2
170 5
168. 0
171.6
174. 2
178. 1
178. 3
174 9

46.9
50.8
51.5
53.1
54.3
59.0
64.1
66. 5
69. 8
75 6
79.3
82.0
86.4
89.7
94. 4
102. 1
108. 2
116. 0
122 4
131 4
135. 7
138 7
145. 7
150 0
156 2
163.9
166 5
168 6
168. 8
174. 7
175. 9
177 5
176 2
175 4

48.7
50.9
51. 8
52.1
55.6
60.6
64.3
66. 9
70. 8
77 2
79.4
83.3
87.3
90. 9
96. 9
103. 3
111.3
117 2
123 5
133 4
136 0
142 1
146 5
151 6
157 8
164.1
168 4
167 6
168 6
175. 7
176 8
177 8
175 0
17 5 3

49. 5
51.0
51.8
53.2
56.9
60.9
64.8
67.6
72.5
78 7
79.0
84.1
89.7
91.8
98 2
104. 6
113 0
120 4
125 9
134 6
13 5 9
143 4
] 4P p
54 0
60 1
64. 3
70 2
67 1
69 6
75. 3
77 8
78 3
7; i

175 2

280. COMPENSATION OF EMPLOYEES
(ANNUAL RATE, BILLIONS OF DOLLARS)
1949....
1950....
1951
1952....
1953....
1954.. .
1955
1956....
1957..
1958
1959
1960....
1961
1962....
1963....
1964....
1965....

143. 4
144 2
174 5
191. 0
207.4
207. 3
216 3
237. 1
254 2
p 54 o
273 1
292.5
296 4
318.4
335.3
357.4
384.5

141. 2
150. 2
180 1
192. 3
210. 7
206 9
222 8
241. 7
256 0
253 5
280 2
295.4
300 5
324.3
340.1
364. 7
391.2

140 5
158 5
183 3
195 8
210 8
207 5
227 7
244 7
258 6
259 6
280 9
296.2
305 4
327.1
345.0
371.9
399.3

1967
1968....
1969....
1970 .
1971....
1972....
1973
1974....
1975

459.9
500.0
551.7
602 5
635.4
693. 7
773.3
848.1
903.8

465.3
513.2
565.6
608 7
647.3
709. 0
791. 3
868.8
914.4

1977....
1978....

1101.1
1237.2

1980....
1981
1982....
1983....

1555.6
1718 8
1834.2

NOTE:

102

17 0
16 8
16 0
15 0
14. 1
14. 0
13 2
12 6
12. 3
13. 3
12 2
11 2
11. 6
11.0
10. 5
10 0
9.9
10 1
9. 3
8. 9
8.8
8. 4
8 1
8.0
8.4
8.2
7.0
7.0
6.9
6.7
6.8
5.9
5.3
4.6

47. *50. 9
51.5
52. 7
55.3
59.9
64. 1
66. 7
70.6
76 4
79. 2
82.4
87.5
90.4
95 8
102. 4
109 5
117 1
12 3 4
132 1
13 5 6
140 5
146 4
151 4
157 4
163.6
167 8
168 4
168 8
174. 3
176 2
177 9
176 1
175 2

474.8
527.0
581.8
617 4
657. 3
722 9
809. 3
889.9
939.2

140 2
166 4
186 0
203 6
209 3
211 8
232 8
250 5
257 0
265 8
284 1
295.6
312 0
330.5
351.1
377.8
411.2
453.8
485. 6
539.4
592.3
619 3
668.7
746 3
831. 3
903.1
968.0

141 3
154 8
181 0
195 7
209 6
208 4
224 9
243 5
256 5
2 58 2
2 79 6
294. 9
303 6
325.1
342. O
368.0
396.5
439.3
471.4
519.9
572.9
612 0
652.2
718 0
801. 3
877.5
931.4

1136.0
1283.2

1167.8
1320.4

1203.4
1363.6

1152.1
1301.1

1574.8
1750 9
1859.9

1604.5
1791 7
1879 5

1663.6
1815 6
1889 0

1599.6
1769 2
1865.7

17 1
16 3
15 7
15 3
13. 7
13. 6
13 0
12 5
12. 4
13.2
11 9
11 5
11.4
10.9
10. 4
10 0
10.1
9 7
9. 3
8 8
8.7
8. 2
8 0
8.1
8.6
7.7
7.3
6.9
6.6
6.8
6.9
5.4
5.1
4.3

1 Q

16 8
16 3
15 6
15 6
13.5
13 7
12 9
12 6
12. 5
12 9
11 8
11 4
11 2
10. 7
10. 3
10 0
10.0
9 5
9. 3
8 9
8.5
8. 0
7 8
7.9
8.7
7.5
7.5
6.7
6.6
6.7
6.7
5.5
5.1
4.2

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
1 976
1977
1978....
1979
1980
1981
1982
1983

1949
1950
1951
1952
1953
1954
1955
1956....
1957....
1958
1959
1960....
1961
1962
196 3....
1964....
1965....
1966....
1967
1968
1969
1970
1971....
1972. .•
1973....
1974
1975

17 0
16 3
15 8
15 0
13. 8
13 7
13 0
12 6
12 . 4
13 0
11 9
11 4
11 3
10.8
10. 4
10 0
10.0
9 6
9. 2
8 8
8.6
8. 2
8 0
8.0
8.6
7.7
7. 3
6. 8
6.7
6.7
6.7
5.6
5.1
4.4

III Q

IV Q

6.5
7.1
6. 5
6.6
6. 7
7.4
7.7
7.8
8.2

6.9
7.0
6.6
6.8
6.6
7.6
7. 6
7.9
8.3

9. 1
8.9
9.8
9.6
9 8
10. 0
10 1
10 3
11 1
11 5
11 7
12 2
12 8
12 9
12 6
13.2
14 1
13 8
13 2
13.1
12 5
12 8
12 6
12 6

8.9
9.1
9.6
9.6
9 8
10 1
10 2
10 5
11 2
11 5
11 8
12 4
12 9
12 7
12 7
13.4
14 1
13 6
13 1
12.9
12 7
13 0
12 5
12 6

7.1
6.8
6.6
6.6
6.8
7. 7
7.6
8.0
8. 3
9.2
9.0
9.3
9.6
9.6
9 9
10 2
10 4
10 6
11.6
11 8
12 9
12 7
13.5
14 0
12
12
12
13
12
12

9
9
6
1
2
7

Annual
AVERAGE

7.3
6. 7
6.6
6.6
7.1
7.6
7.6
8.0
8.7

7.0
6.9
6.6
6.6
6.8
7.6
7.6
7.9
8.4

8. 8
9.5
9. 7
9.7
10 0
10 2
10 4

9.0
9.2
9. 7
9.6
10 1
1 0 fi

11.3
11.7
11 9
13 0
12 8
12.8
13.7
14 0
13.3
13 0
12 7
12 8
12 9
12 3

PROPRIETORS' INCOME WITH IVA AND CCADJ
(ANNUAL RATE, BILLIONS OF DOLLARS)

11.2
11 ' fl
12.5
12 9
12.7
13.4
13.6
13 0
12 9
12 6
13 0
12 4

AVERAGE

37 0
36 9
42 5
42 4
42 6
41 6
42 2
43 2
44 6
47 5
47 8
46.6
48 0
49.8
50.0
51.2
54.7

36 4
37 4
42 9
43 4
41 8
40 5
42 8
43 5
45 1
47 4
48 2
47.8
48 3
49. 9
50. 3
52.2
57.0

35 8
39 8
43 3
45 1
41 1
41 3
43 1
44 3
46 0
47 7
47 4
47.3
48 6
49.9
50. 7
52.9
57.6

59.9
62. 3
67. 2
66 9
68. 7
74. 5
88. 1
92. 9
82.7

60.8
63.2
67. 3
66. 4
68. 7
76. 5
92.1
88. 5
87.8

62.1
64. 8
67. 1
65 7
68.2
76. 6
95.8
87.4
94.7

1977
1978

100. 8
111.1

100. 3
118.1

103. 9
120.1

110.4
124.8

61.2
64.0
67.0
66. 2
69.4
76.9
93.8
88.7
90.0
94.1
103. 9
118. 5

1980....
1981
1982....
1983

123. 1
121 1
111.2

111.7
118 9
104. 9

116. 7
123 5
103. 6

118. 3
117 1
116.2

117.4
120. 2
109. 0

36 3
40 7

36 4
38 7

42 5
41 5
41 5

43 4
41 8
41 2

44 8
45 5
48 2
47 0
47. 1
49 4
49.9
51.1
53. 5
58. 5
59.7
62.0
65.6
66. 6
65 9
71.9
79. 9
99.1
86. 1
94.9

43 9
45 3
47 7
47 6
47.2
48 6
49.9
50.5
52. 5
56.9

28'I. RENTAL INCOME OF PERSONS WITH CCADJ
ANNUAL RATE, BILLIONS OF DOLLARS)

AVERAGE
17 3
15 8
15 7
14 3
14 0
13.4
12 8
12 5
12. 5
12 6
11 6
11 4
11 1
10.6
10. 2
10 0
9.9
9 3
9.1
8 8
8.4
8. 1
8 0
7.9
8.8
7.3
7.3
6.7
6.8
6.7
6.5
5.4
4.8
4.7

II Q

268. STATE AND LOCAL GOVERNMENT PURCHASES OF GOODS AND
SERVICES AS A PERCENT OF GNP
(PERCENT)

282.

These series contain revisions beginning with 1980.




AVERAGE

Year

AVERAGE

283. PROPRIETORS' INCOME WITH IVA AND CCADJ AS A
PERCENT OF NATIONAL INCOME
(PERCENT)
1949..
1950..
1951
1952
1953....
1954....
1955
1956
1957....
1958..
1959
1960
1961..
1962....
1963....
1964
1965....
1966
1967...•
1968..
1969
1970....
1971.
1972
1973
1974....
1975
1976
1977....
1978
1979
1980
1981
1982....
1983

Annual

1949....
1950. ..
1951
1952
1953....
1954. . . .
1955
1956
1957....
1958
1959
1960
1961
1962
196 3
1964
1965
1966
1967
1968
1969. . . .
1970
1971
1972....
1973
1974....
1975....
1976
1977....
1978
1979
1980....
1981....
1982
1983....

5. 9
6. 8
7. 4
8 2
9. 5
10. 6
11.2
114
11.9
12.7
13 0
14 3
14 8
15.4
16. 3
17 0
17.5
18 6
19. 3
19 5
19.7
19. 5
19 6
21.2
22.3
23.4
23.3
23.1
24.8
25. 2
28.2
29.0
37.4
47.4

6. 0
6. 9
7. 5
8. 6
9.8
10. 9
11.2
11. 6
12.1
12.8
13 5
14 5
14.9
15.6
16. 5
17 0
18.0
18 5
19. 8
19. 6
19.9
19. 8
20.1
17.6
21.6
23.2
23.1
22.7
24.4
25.0
27.0
30.1
39.9
49.0

6. 2
7. 2
7. 8
9 0
10. 2
11.2
11.3
11.7
12.4
12. 9
13 9
14 6
15 1
15.8
16. 7
17 0
18.1
18 9
19. 9
19 6
19.5
19. 8
20. 5
22.7
22.9
23.7
22.8
23.6
25.5
27.8
27.2
32.5
42.7
50.9

AVERAGE
6. 4
7. 4
8. 1
9. 4
10.6
11.4
11.4
11.8
12. 5
13.1
14 2
14 6
15 3
16. 2
16. 6
17 2
18.3
18. 9
19.8
19. 5
19.2
19. 7
20. 7
22.4
23. 5
23.8
22.9
24.6
24.5
28.4
29. 2
34.4
45.6
52.3

6. 1
7. 1
7. 7
8. 8
10.0
11.0
11. 3
11. 6
12.2
12.9
13. 6
14 5
15.0
15.8
16. 5
17.1
18.0
18. 7
19.7
19. 5
19.6
19.7
20. 2
21.0
22.6
23. 5
23.0
23.5
24.8
26.6
27.9
31.5
41.4
49.9
(NOVEMBER 1983)

C. Historical Data for Selected Series—Continued
Year
285.

I Q

III Q

II Q

IV Q

RENTAL INCOME OF PERSONS WITH CCADJ AS A PERCENT
OF NATIONAL INCOME
(PERCENT)

1949
1950
1951
1952
1953
1954
1955
1956
1957
1958
1959
I960
1961
1962
1963
1964
1965
1966
1967
1968
1969
1970
1971
1972
1973
1974
1975
1976
1977
1978
1979
1980
1981
1982
1983

2. 7
3.1
2.8
2.9
3. 1
3.6
3 5
3. 3
3. 3
3.6
3.3
3.4
3.6
3.4
3. 4
3. 3
3.2
3.0
3.0
2.8
2.6
2.4
2. 3
2.3
2 1
2.1
2.0
1 7
1. 7
1 5
1. 5
1.4
1 6
2. 0

2.8
3.0
2.8
3.0
3.2
3. 7
3 4
3. 3
3. 3
3.6
3. 3
3. 5
3.5
3. 4
3. 4
3. 3
3. 2
3.0
3. 0
2. 7
2.6
2.4
2. 3
1.9
2 0
2.0
1 9
1 7
1 6
1 4
1. 4
1. 5
1 7
2. 0

13 4
12. 9
14. 4
13 2
13 0
11 0
13.9
12. 9
12 4
9 6
12.4
12. 5
10 5
12.3
12.3
13.4
13 9
14 1
12.6
12 3
119
8. 9
9 5
10. 0
10 6
8. 9

1949
1950
1951
1952
1953
1954
1955
1956
1957
1958
1959
I960
1961
1962
1963
1964
196 5
1966
1967
1968
1969
1970
1971
1972
1973
1974
1975
1976
1977
1978
1979
1980
1981
1982
1983

7.

5

10 6
10. 1
10.
10
9
8
6

289.

10 0
10. 9
11. 2
10 2
8 1
7 9
6 8

NET INTEREST A S A PERCENT
(PERCENT)

1949
1950
1951
1952
1953
1954
1955
1956
1957
1958
1959
1960
1961
1962
1963
1964
1965
1966
1967
1968
1969
1970
1971
1972
1973
1974
1975
1976
1977
1978
1979
1980
1981
1982
1983
NOTE:

2
6
0
5
7

12 6
13.9
14. 1
12 3
12 6
11 3
13. 9
12 7
12 1
9 8
13.2
11. 5
11 2
12. 0
12. 8
13. 2
14 0
13 7
12.3
12 5
11 2
9. 1
9 4
9. 9
10 0
8. 5
8. 3

1 2
1. 3
1. 2
1. 3
1 4
1. 7
1. 8
1. 8
2.0
2 5
2. 6
2 7

1 3
1. 3
1. 3
1. 4
1 4
1. 7
1.8
1.9
2.1
2 6

3. 1

3.

3 4
3.6
3. 8

3 5
3 . 7

4 2
4. 3

4 2
4.4

5.3
5.2
5.4
6.0
7.0
6.3
6.5
6.8
7.5
8.7
9.7
11.0

5.3
5.3
5. 5
6.6
7.0
6.3
6.6
6.7
7.6
9.1
10.4
11.0

2.

5

2 6
2

3. 9

2.8
3. 0
2. 8
3.0
3.3
3. 7
3 4
3 . 3

3.4
3.5
3. 4
3. 5
3.5
3 .4
3 4
3. 2
3 2
3.0
3. 0
2.7
2.5
2. 4
2 3
2.2
2 1
2.0
1 9
1 7
1 6
1 5
1 4
1. 5
1 8
2 0

1949
1950.
1951
1952
1953.
1954
1955
1956
1957
1958
1959..
I960
1961
1962..
1963
1964
1965
1966
1967
1968
1969
1970
1971
1972
1974
1975
1976
1977
1979
1980
1981
1982
1983

A PERCENT

13 2
14.8
14 0
11 9
12 2
118
13.8
12 2
118
10 6
12.0
11 2
115
12 2
12.9
13.2
13 9
13 2
12.3
12 3
10 7
8 9
9 6
10.0
9 7
7.8
9.6
9 9
11.5
11.1
9 9
8 1
8 2
6 9

118
15.3
14.1
12 9
10 2
12 6
13.7
12.1
11.0
11 7
11.9
10.7
12 1
12.5
12.9
12.9
14.1
13 2
12.5
12.2
9 9
8.4
97
10.2
9 7
7.6
10.1
96
10.6
11.2
9.0
80
7 9
6.5

12 8
14. 2
14. 2
12 6
12 0
11 7
13. 8
12 5
11 8
10 4
12.4
11. 5
11 3
12.2
1 2 . 7
1 3 . 2

14 0
13 6
12.4
12 3
10 9
8. 8
9 6
10. 0
10 0
8. 2
8. 9

10 0
10. 8
10. 9
9 9
8 3
8 1
6. 7

13
1.2
1.3
1.4
14
1.8
1.8
1.9
2.2
2 7
2.6
2 8
3 1
3.2
3 4
3 5
3.7
3.9
4 2
4 1
4.5
5 2
5.4
5.4
5.6
6.7
6.8
6.4
6.6
6.9
7.9
9.1
11.1
10.4

13
1.2
1.3
1.4
1.6
1.8
1.8
1.9
2.3
2.7
2.6
2 9
3 1
3.3
34
3 5
3.7
4.0
4 2
4 1
4.6
5 4
5.3
5.5
5.6
6.9
6.5
6.3
6.7
7.2
8.2
9.5
10.9
10.3

1949
1950
1951
1952
1953
1954
1955
1956.
1957
1958
1959
I960
1961
1962
1963
1964
1965
1966
1967
1968
1969
1970
1971
1972
197 3...
1974
1975
1976...
1977
1978
1979
1980.
1981
1982
1983
2 90.

AVERAGE
1 3
1.2
1.3
1.4
1. 4
1.8
1. 8
1.9
2.2
2. 6
2.6
2 8
3 0
3.2
3 4
3 5
3 7
3.9
4 2
4 2
4.4
5 1
5.3
5.4
5.5
6.6
6.8
6.3
6.6
6.9
7.8
9.1
10.5
10.7

III Q

IV Q

Annual

29 2
28 3
38 2
37. 2
39 3
32 6
44. 3
44 3
44 9
34.4
48 5
52 0
43.4
55. 9
58 8
68. 8
76 9
86.6
81 6
85.9
90. 3
71 1
80 4
93.2
111 3
100.6
88 3
148
167
201
187
194
162

2
9
3
3
7
0

26 8
31. 9
38 3
34. 8
38. 5
33 7
45.5
44. 1
44 2
35.1
53 7
47 7
47.5
55. 2
62 2
68. 8
79 2
85.2
80 7
89. 7
86.9
73 2
81 6
93.3

28
36
38
34.
37
35

1
3
8
4
2
4

AVERAGE

90. 0
84.4
72 9
83 8
96.7

24 8
39 3
39 6
38 3
30 3
38 8
46.8
43 2
40 0
44.7
48 3
44 3
53.6
58 7
64 3
69 1
83 6
85.0
85 4
90. 9
78.6
68 3
87 0
103.1

98.4
100 9

90.8
121 9

89.6
130 9

167
193
197
16R.
185
166

182
199
197
170
197
168

171
208
183
175
19?
161

0
7
2
3
0
8

42 8
43 7
39.2
48 0
46 7
49.8
56 6
63 3
69. 9
80 1
83.6

81 8

5
5
5
6
6
5

4
5
1
6
0
9

288 NET INTEREST
(ANNUAL RATE, BILLIONS OF DOLLARS)

AVERAGE

OF NATIONAL INCOME

These series contain revisions beginning with 1980.




3.0
2.9
2.9
3.2
3.6
3.7
3 3
3.3
3.4
3.4
3.5
3.5
3.4
3.4
3.3
3.2
3.1
2.9
2.9
2.6
2.4
2.4
2.3
2.2
2 1
2.0
18
17
15
15
1.4
1.6
19
2.1

II Q

IQ

286. CORPORATE PROFITS WITH IVA AND CCADJ
(ANNUAL RATI , BILLIONS OF DOLLARS)

AVERAGE

2.9
2.9
2.8
3.1
3.4
3.7
3 4
3.3
3.4
3.5
3.5
3.5
3.5
3.4
3.4
3.2
3.1
3.0
3.0
2.7
2.5
2.4
2 3
2.3
2 1
2.0
18
17
16
16
14
1.5
18
2 1

CORPORATE PROFITS tflTH IVA AND CCADJ AS
(PERCENT)
OF NATIONAL INCOME

287.

Year

Annual

2 6
2. 9
3. 3
3. 8
4 2
5 0
5.7
6. 3
7.4
9 0
10.2
11.1
12 2
13.9
IS 8
17.5
20. 2
23 0
26. 4
29. 3
32 7
38. 3
45. 3
48. 1
57. 2
68.0
82.4
85. 3
96.1
112. 2
142. 5
181. 2
223 7
265. 0

2 7
3.0
3. 5

3. 9
4. 3
5.1
5. 9
6. 5
7. 8
9. 4
10. 3
11. 0
12 7
14. 5
16. 1
18.0
20. 9
24. 0
27. 2
29. 9
34. 2
40. 6
46. 2
49. 7
59. 2
76. 1
84. 7
85. 8
100.6
117. 2
148. 1
187. 6
242. 6
268. 3

2 7
3. 0
3. 7
4. 0
4. 4
5. 4
6. 0
6. 8
8. 2
9 8
10. 3
11. 6
13 2
14.9
16. 6
18. 7
21. 5
24 9
27.9
30. 1
35. 7
42. 7
47. 0
52. 2
61.0
78.9
85. 5
88. 2
105.0
124. 2
158. 1
193. 5
268. 0
256.4

27 1
33 9
38 7
36.1
36 3
35 2
45.5
43 7
43 3
38.5
49 6
47 6
48.6
56. 6
62 1
69. 2
80 0
85.1
82 4
89.1
85.1
71 4
83 2
96.6
108 3
94.9
110 5
138 1
167 3
192 4
194 8
175.4
192 3
164 8

AVERAGE
2 7
3. 1

2.

3. 7
I.1
I. 8

3.

8 2
10 2
10.6
12. 0
13 9
15.4
17.1
18.9
21. 7
25 9
28. 8
30. 7
36. 6
44. 2
47. 5
54.9
63. 3
81. 3
85. 2
89. 6
108.4
133.0
166.4
208. 2
265. 3
254.7

5

4. 0
4.4
5.

5. 0

7

3.0

3

5.9
6. 6
7. 9
9. 6
10.3
11.4
1 3 .

o

14. 7
16.4
18.3
21.0
24.4
27.6
30. 0
34.8
41.4
46. 5
51.2
60.2
76.1
84. 5
87.2
102.5
121.7
153.8
192.6
249. 9
261.1

GROSS SAVING—PRIVATE SAVING PLUS GOVERNMENT SURPLUS
OR DEFICIT
(ANNUAL RATE, BILLIONS OF DOLLARS)

AVERAGE

34. 2
47.9
60.8
48.0
52. 3
48. 7
66.9
74. 7
76. 6
57. 2
84. 2
81. 4
76. 5
86.7
94. 9
100. 6
121. 6
128.7
120.1
134.4
151.7
152. 3
160.3
182.4
231.5
231.8
208.1
260.9
305. 3
372.6
432.2
400.3
475.8
439.5

35.6
50.7
56.9
51.0
49.8
50.9
67.5
75.9
75.2
62.6
78.3
81.1
78. 7
86.7
93.6
104.0
120. 2
127.3
125. 7
136.0
153.6
148.9
161.6
186.6
235.5
227.8
218.9
257.9
309.1
374.8
422.7
405.9
483.8
405.8

1949
1950
1951
1952
1953...
1954
1955
1956
1957
1958
1959
I960.
1961
1962
1963
1964 .
1965
1966
1967
1968
1969
1970
1971
1972
1973
1974
1975
1976
1977
1978
1979
1980
1981
1982
1983

42. 1
39.2
57.3
54. 9
51. 3
46.6
61.3
73.3
77.1
61. 1
75.4
88.9
72. 9
86.0
88.8
99. 5
119. 3
125.7
123.1
131.0
149.9
148. 7
158. 3
176.6
221.6
231.6
199.7
255.2
275.7
341.0
423.1
408.3
461.8
434.4

35.2
52.2
56. 2
48.8
51.5
50.8
69.9
76. 5
76.8
61.7
75.3
79. 8

81.4
87.4
94. 2
105.2
120.4
125.7
125. 9
136.0
158.5
151. 2
162.4
187.2
238.6
221.6
228.8
258.9
329.8
383.5
431.4
398.7
507.6
397.9

30. 9
63.0
53. 5
52.5
44. 2
57.4
72.2
78.3
69.6
69. 9
78.3
74.4
84.1
86.6
96. 5
110. 9
119. 5
129.3
133. 6
142.6
154.2
143. 5
165.5
200.4
250.4
226.2
238.9
256.5
325.5
402.2
404.4
416.1
490.1
351.3

(NOVEMBER 1983)

103

C. Historical Data for Selected Series—Continued
Year

IQ

IV Q

M Q

Annual

Year

292. PERSONAL SAVING
(ANNUAL RATE, BILLIONS OF DOLLARS)
1949
1950
1951
1952
1953
1954
1955
1956
1957
1958
1959
1960
1961
1962
1963
1964
1965
1966
1967
1968
1969
1970
1971
1972
1973
1974
1975
1976
1977
1978
1979
1980
1981
1982
1983

9.3
16.4
9.1
16.9
16.R
19.0
14.5
19.1
21.7
22.4
22.0
21.4
21.0
24.9
21.2
25.5
29.7
33.7
43.5
44.4
35.0
46.2
61.6
52.7
66.7
86.2
74.9
89.5
62.9
94.4
98.0
100.8
112.2
130.8

6.9
11.8
18.8
15.6
19.1
15.9
15.5
21.0
23.2
21.8
23.5
19.1
21.8
24.4
21.6
30.4
32.0
34.7
42.0
46.5
36.8
57.8
64.7
46.8
77.6
85.0
118.7
86.5
74.2
83.6
102.8
113.2
120.2
127.1

7.3
5.4
18.2
19.7
18.8
16.0
17.3
21.9
23.0
24.4
18.7
20.0
24.6
23.3
20.9
29.1
37.8
35.9
44.7
37.5
45.7
59.8
61.0
50.5
81.0
80.7
91.8
81.1
86.9
89.5
98.6
112.2
149. 7
123.0

6.3
13.6
17.7
16.8
19.6
16.8
17.6
23.0
21.5
25.6
20.4
18.2
24.7
20.5
24.0
33.3
35.2
39.6
47.0
39.5
44.9
59.4
55.3
60.5
90. 5
88.7
91.8
72.9
88.0
90.0
87.3
114.6
159.0
120.8

7. 5
11.9
16.1
17.4
18.5
17.0
16.4
21.3
22.3
23.6
21.1
19.7
23.0
23.3
21.9
29.6
33.7
36.0
44.3
41.9
40.6
55.8
60. 7
52.6
79.0
85.1
94. 3
82.5
78.0
89.4
96.7
110.2
135.3
125.4

1949.
1950.
1951.
1952.
1953.
1954.
1955.
1956.
1957.
1958.
1959.
1960.
1961.
1962.
1963.
1964.
1965.
1966.
1967.
1968.
1969.
1970.
1971.
1972.
1973.
1974.
1975.
1976.
1977.
1978.
1979.
1980.
1981.
1982.
1983.

295. BUSINESS SAVING
(ANNUAL RATE, BILLIONS OF DOLLARS)
1949
1950
1951
1952
1953
1954
1955
1956
1957
1958
1959
1960
1961
1962
1963
1964
1965
1966
1967
1968
1969
1970
1971
1972
1973
1974
1975
1976
1977
1978
1979
1980
1981
1982
1983

32.2
28.8
29.7
38.0
39.5
38.8
46.7
48.6
51.5
48.7
58.0
59.6
57.0
66.6
69.4
76.2
84.1
91.0
93.6
96.2
103.4
99.5
113.9
131.1
146.8
148.7
168.7
211.9
226.7
263.5
301.6
314.0
356.6
383. 3

31.6
30.0
34.4
36.7
38.3
40.6
47.9
48.8
51.9
49.6
60.6
58.0
59.8
65.9
70.8
76.2
85.2
91.8
93.5
99.9
103.0
103.7
116.0
138.4
146.6
149.6
182.8
208.8
246.9
281.6
308.0
324.1
365.1
393.6

32.8
31.0
37.7
36.6
38.4
41.4
48.8
50.1
52.4
52.2
57.7
58.3
60.7
66.8
71.5
77.2
86.4
91.9
95.5
101.1
104.4
104.3
120.8
136.9
148.7
143.6
195.8
212.0
263.1
291.5
318.7
328.0
381.9
401.9

12.7
12.4
24.0
42.4
49.1
44.3
38.6
38.3
43.3
44.5
46.1
43.9
46.0
50.9
50.2
49.8
47.1
55.1
69.4
76.1
75.3
75.8
72.0
74.3
73.4
73.9
81.3
84.8
90.6
95.3
106.6
125.9
143.3
168.1

13.4
12.5
30.3
45.6
49.5
41.9
38.1
40. 3
43.9
45.4
45.5
43.8
46.7
51.3
50.5
49.5
48.3
58.4
70.4
77.2
75.6
73.0
70.1
74.0
73.0
76.1
81.0
83.7
92.7
99.7
109.0
129.1
151.2
175.2

13.6
14.1
37.7
46.9
48.3
39.8
39.1
40.2
44.6
45.9
45.6
44.8
46.8
51.1
50.2
48.9
49.3
62.7
72.5
76.7
77.2
72.8
68.9
71.8
71.3
77.1
83.7
86.3
93.5
101.7
112.7
130.8
154.9
183.6

29.8
32.9
37.8
39.1
36.5
43.9
49.0
49.9
51.5
55.9
58.5
57.4
62.2
69.4
72.2
77.3
88.3
95. 9
99. 7
102.8
101.4
103.8
126.5
141.5
152.8
155.7
206.4
214.9
258.9
302.0
313.9
334.7
393.8
405.8

13.1
16.9
42.0
48.5
47.5
38.4
38.0
41.9
44.3
46.5
45.1
45.3
48.5
50.9
50.3
47.9
53.1
65.0
73.5
77.4
77.1
72.7
70.0
72.5
73.6
81.0
86.0
89.1
94.5
104.4
119.0
139.1
166.7
190.8

NOTE: These series contain revisions beginning with 1980.
Annual figures are computed from annual data for series 200 and 564.

104




Annual

5.0
8.1
4.1

5.3
6.0

6.9
8.4
6.7
7.6
8.9
7.2
7.7
5.0
6.7
6. 2
5. 7
5.7
6. 1

3.7
5.9
8.3
6.7
7.6
6. 2
5.7
7.2
7.5
6.9
6. 9
5.4
6.0
6.3
5.4
6.9
6. 8
6.8
7.7
7. 9
5.8
8.3
8. 6
5. 9
8.6
8.6
10.7
7.3
5. 7
5.8
6. 3
6. 3
6.0
5.9

3.9
2.6
8.2
7.

7. 7
6.8

5.9
5.1
6.6
6.
5.1
6. 5
7.8
6.9
8. 1
6.3
7.0
8. 5
8.1
6.2
8.8
8.0
8.3
6.7
6.5
6.0
5.9
6.1
7.2
5. 6

7.4
7.1
7.5
8.4
6.5
6.8
8.3
7.2
7.1
9.5
8.6
6.4
5.8
5.1
6.0
7.5
5.4

4.0
5.8
7.1
7.3
7.3
6.6
6.0
7.3
7.2
7.4
6.2
5.6
6.3
6.0
5.4
6.7
7.1
7.0
8.1
7.1
6.4
8.0
8.1
6. 5
8.6

5.9
6.1
5.9
6.0
6.6
5.8

298. GOVERNMENT SURPLUS OR DEFICIT, TOTAL
(ANNUAL RATE, BILLIONS OF DOLLARS)
31.6
30.7
34.9
37.6
38.2
41. 2
48.1
49.4
51.8
51.6
58.7
58.3
59.9
67.2
71.0
76. 7
86.0
92.6
95.6
100.0
103.0
102.8
119.3
137.0
148. 7
149.4
188.4
211.9
248.9
284.6
310.6
325. 2
374.4
396.2

1949...
1950...
1951...
1952...
1953...
1954...
1955...
1956...
1957...
1958...
1959...
1960...
1961...
1962...
1963...
1964...
1965...
1966...
1967...
1968...
1969...
1970...
1971...
1972...
1973...
1974...
1975...
1976...
1977...
1978...
1979...
1980...
1981...
19B2...
1983...

0. 5
-6.0
18.3
-0.1
-5.0
-11.2
0.2
5.6
3.9
-10.0
-4. 7
7.9
-5.1
-5.5
-1.8
-2. 1
5.6
1.0
-14. 1
-9.6
11.4
2. 2
-18.0
-7.1
8.1
4.7
-43.8
-46. 1
-13.9
-16.8
22. 2
-7.5
-8.1
-79.7

-3.9
6. 1
7. 8
-4.4
-5.2
-7. 7
3.4
4.9
1. 5
-14.3
0. 0
4. 3
-5.2
-6. 1
4.4
2.2
-15.5
-12. 0
11.9
-10.0
-21.3
-3. 3
7.4
-2.8
-93. 3
-34.4
-15. 8
7. 4
20.1
-38. 1
-10.6
-81.2

-4.9
15. 8
0.3
-7.1
-5.6
-6.6
3.8
4.5
1.4
-15.0
-1. 1
1.4
-3.9
-2.7
1.8
-1. 1
-3.8
-2.1
-14.3
-2.6
8. 5
-13.9
-20.5
-0. 7
8.9
-2.7
-58.8
-34.2
-20.1
2.4
12.9
-43. 3
-25. 2
-127.0

-5. 2
16.4
-2.0
-3.3
-11.9
-3.2
5.6
5.5
-3.4
-11.7
-0. 6
-1.2
-2.9
-3.3
0.4
0. 2

8.0
-20.6
-18.0

-31.3
-21. 5
10. 3
2.1
-33.9
-63. 7
-175.3

-3.4
8.0
6.1
-3.8
-6.9
-7.1
3.1
5.2
0.9
-12.6
-1.6
3.1
-4.3
-3.8
0.7
-2. 3
0.5
-1.3
-14.2
-6.0
9.9
-10.6
-19.4
-3. 3
7.R
-4.7
-63.8
-36.5
-17.8
0.8
14.3
-30.7
-26.9
-115.8

NATIONAL DEFENSE PURCHASES AS A PERCENT OF GROSS
NATIONAL PRODUCT
(PERCENT)

564. FEDERAL GOVERNMENT PURCHASES OF GOODS AND SERVICES
FOR NATIONAL DEFENSE
(ANNUAL RATE, BILLIONS OF DOLLARS)
1949
1950
1951
1952
1953
1954
1955
1956
1957
1958
1959
1960
1961
1962
1963
1964
1965
1966
1967
1968
1969
1970
1971
1972
1973
1974
1975
1976
1977
1978
1979
1980
1981
1982
1983

IV Q

IQ

PERSONAL SAVING RATE—PERSONAL SAVING AS A PERCENT
OF DISPOSABLE PERSONAL INCOME
(PERCENT)

13.2
14.0
33.5
45.8
48.6
41.1
38.4
40.2
44.0
45.6
45.6
44.5
47.0
51.1
50.3
49.0
49.4
60.3
71.5
76.9
76.3
73.6
70.2
73.1
72.8
77.0
83.0
86.0
92.8
100.3
111.8
131.2
154.0
179.4

1949...
1950...
1951...
1952...
1953...
1954...
1955...
1956...
1957...
1958...
1959...
1960...
1961...
1962...
1963...
1964...
1965...
1966...
1967...
1968...
1969...
1970...
1971...
1972...
1973...
1974...
1975...
1976...
1977...
1978...
1979...
1980...
1981...
1982...
1983...

4.9
4.6
7.5
12.4
13.4
12.2
9.9
9. 3

9.1
9.2
8.6
8.0
7.0
7.5
8.9
9.0
8.2
7.8
6.9
6.5
5.7
5.3
5.5
5.1
4.9

4.9
5.0
5.6

5.2
4.5
9.2
13.3
13.4
11.6
9.6
9.6
9.9
10.3
9. 3
8.7
9.0
9. 1
8.5
7.8
7.1
7.8
8.9
8.9
8.1
7.4
6.6
6.3
5.6
5. 3
5.3
4.9
4.9
4.7
4.6
5.0
5.2
5.7

5.3
4.8
11.3
13.5
13. 1
10.9
9.7
9.5
9.9
10.1
9.3
8.8
8.9
9.0
8.3
7.6
7.1
8.2
9.0
8. 7
8.1
7.3
6. 3
6.0
5.3
5. 3
5.3
5.0
4.8
4.6
4.6
5.0
5.2
5.9

5.1
5.5
12.4
13.5
13. 1
10. 2
9.2
9.7
10.0
10.0
9.1
9.0
8.9
8.9
8.2
7.4
7.4

5. 1
4.9
10.1
13.2
13.2
11.2
9.6
9.5
9.9
10.1
9.3

7.2
6. 3
5.9
5.3
5. 5
5.3
5.0
4.8
4.6
4.8
5.1
5.5
6.1

7.4
6.5
6.2
5.5
5.4
5.4
5.0
4.8
4.6
4.6
5.0
5.2
5.8

8.8
9.0
9.0
8.4
7.7
7. 1
8.0
8.9

(NOVEMBER 1 9 8 3 )

G. Experimental Data and Analyses

Year
and
quarter

Implicit price
deflator, gross
nonfarm business
product1
(Index: 1977=100)

1981
I Q....
II Q...
Ill Q..
IV Q...

136.2
138.4
141.8
145.0

139.2
141.6
143.5
147.8

146.4
148.3
149.1
150.5

151.3
153.6
155.4
157.1

152.4
153.6
pl54.6

158.3
157.4
P157.3

(Mar.)

P

T

( l M . ) ( M y ) (July)
P T
P

(Nov.)
T

111111111111111111

Unit labor cost,
all persons, nonfarm
business sector1
(Index: 1977=100)

(Nov.)

Components of BCD series 26—

I i l lI I I

Implicit price deflator, gross nonfarm
business product Q
(index: 1977 = 100)

1982
I Q....
II Q...
Ill Q..
IV Q...
1983
I Q....
II Q...
Ill Q..
IV Q...

Unit labor cost, all persons, nonfarm
business sector, Q
(index: 1977 = 100)

ratios in 1972 dollars (ratio)
Inventory-sales ratios in 1972 dollars
Year
and
month

Manufacturing

2

Retail trade

(Ratio)

Merchant
wholesalers
(Ratio)

Jan
Feb..
Mar..
Apr..
May.. 9 m
June.

2.11
2.06
2.05
2.07
2.03
2.02

1.49
1.45
1.43
1.50
1.45
1.50

1.45
1.40
1.42
1.42
1.38
1.43

July.
Aug..
Sept.
Oct..
Nov..
Dec.

2.03
2.05
2.05
2.12
2.09
2.06

1.52
1.51
1.55
1.56
1.54
1.55

1.42
1.43
1.43
1.43
1.38
1.39

Jan
Feb..
Mar..
Apr..
May..
June. ••

1.97
1.97
1.91
1.89
1.85
1.79

1.47
1.51
1.50
1.52
1.41
1.37

1.38
1.41
1.38
1.38
1.35
1.33

July.
Aug.. ..
Sept.
Oct.. ••

1.82
rl.79
pi. 78
(NA)

1.39
rl.40
pi. 39
(NA)

1.33
rl.36
pi.36
(NA)

(Ratio)

1982

Merchant wholesalers

1983

Nnv
liUV . .

Dec.
1970 1971 1972 1973 1974 1975 1976 1977 1978 1979 1980 1981 1982 1983
NOTE:
The "r" indicates revised; "p", preliminary; and "NA", not available.
1
Source: U.S. Department of Labor, Bureau of Labor Statistics.
2
Source: U.S. Department of Commerce, Bureau of Economic Analysis.




105

G. Experimental Data and Analyses—Continued

Net Contributions of Individual Components to the Leading, Roughly Coincident and Lagging Composite Indexes
Net contribution to index

Basic data
Series title
(and unit of measure)

LEADING INDICATORS
1. Average workweek, production workers,
manufacturing (hours)
5. Average weekly initial claims, State
unemployment insurance1 (thousands)
8. New orders for consumer goods and materials
in 1972 dollars (billion dollars)
32. Vendor performance, companies receiving
slower deliveries (percent)
12. Net business formation
(index: 1967=100)
20. Contracts and orders for plant and equipment
in 1972 dollars (billion dollars)
29. New building permits, private housing
units (index: 1967=100)
36. Change in inventories on hand and on order in
1972 dol., smoothed2 (ann. rate, bil. do!.) .
99. Change in sensitive materials prices,
smoothed2 (percent)
19. Stock prices, 500 common stocks
(index: 1941-43=10)
106. Money supply (M2) in 1972 dollars
(billion dollars)
111. Change in credit--business and consumer
borrowing (annual rate, percent)
910. Composite index of 12 leading indicators3
(index: 1967=100)
ROUGHLY COINCIDENT INDICATORS
41. Employees on nonagricultural payrolls
(thousands)
51. Personal income less transfers in 1972
dollars (annual rate, billion dollars).
47. Industrial production, total
(index: 1967=100)
57. Manufacturing and trade sales in 1972
dollars (million dollars)
920. Composite index of 4 roughly coincident
indicators3 (index: 1967=100)
LAGGING INDICATORS
91. Average duration of unemployment1
(weeks)
77. Ratio, constant-dollar inventories to sales,
manufacturing and trade (ratio)
62. Labor cost per unit of output, manufacturingactual data as a percent of trend (percent)
109. Average prime rate charged by banks
(percent)
101.
95.
930.

Commercial and industrial loans outstanding
in 1972 dollars (million dollars)
Ratio, consumer installment credit to
personal income (percent)
Composite index of 6 lagging indicators 3
(index: 1967=100)

July
1983

Aug.
1983

Sept.
1983

July
to
Aug.
1983

Oct.
1983

Aug.
to
Sept.
1983

Sept.
to
Oct.
1983

40.2

40.3

r40.8

p40.6

0.08

0.38

-0.18

380

408

387

398

-0.20

0.15

-0.09

34.86

r35.98

r35.27

p35.33

0.16

-0.10

0.01

52

61

60

64

0.36

-0.04

0.19

rll5.2

rll4.4

rll7.3

pl20.4

-0.10

0.35

0.44

12.53

13.43

rl5.50

pl5.44

0.15

0.31

-0.01

143.9

133.4

121.6

131.7

-0.23

-0.28

0.28

r5.85

rl0.56

pl6.84

0.26

0.35

r0.94

1.07

r0.89

0.69

0.05

-0.07

-0.09

166.96

162.42

167.16

167.65

-0.17

0.18

0.02

891.9

892.5

r891.8

p894.6

0.02

-0.03

0.12

9.7

r8.4

pi.2

-0.07

-0.38

158.2

rl58.9

rl60.5

pl61.8

0.44

1.01

0.81

90,152

89,735

r90,753

p91,073

-0.38

0.94

0.38

rl,097.7

rl,097.6

rl,107.2

pi,116.9

-0.00

0.44

0.56

rl49.7

rl51.7

rl53.6

pl54.8

0.37

0.35

0.28

rl62,744

rl63,112

pl64,312

0.05

0.16

NA

rl40.8

rl40.6

rl43.0

pl44.5

-0.14

1.71

1.05

21.7

19.9

20.2

20.1

0.63

-0.11

0.05

1.58

rl.58

pi.58

NA

0.00

0.00

NA

r91.6

r90.5

r89.6

p88.8

-0.40

-0.33

-0.43

10.50

10.89

11.00

11.00

0.27

0.08

0.00

102,377

rl02,086

rl01,951

plO2,178

-0.08

-0.03

0.09

13.09

13.17

0.31

-0.23

109.8

rll0.6

0.73

-0.63

NA

NA

NA

NA
rlO9.9

plO9.6

NA

NA

NA
-0.27

NOTE: The net contribution of an individual component is that component's share in the composite movement of the group. I t
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 February 1983 issue of BUSINESS CONDITIONS DIGEST
(pp. 108-109) for the weights and standardization factors. NA, not available, p, preliminary, r, revised, e, estimated.
x

This series is inverted in computing the composite index; i . e . , a decrease in this series is considered an upward movement.
This series is a weighted 4-term moving average (with weights 1,2,2,1) placed on the terminal month of the span.
3
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 0.139; for the coincident index, -0.175; for the lagging index, 0.018.
2

106




G. Experimental Data and Analyses—Continued
Cyclical Comparisons: Current and Selected Historical Patterns

'I1

...|.....|M..M.M..|M...|.

12. Net business formation

Deviations
from
reference
peaks

Actual
data
for
current
cycle

REF.
TROUGH

FROM
7/81

ACTUAL
DATA

DeviActual
ations
data
from
for
specific current
troughs cycle

AND
YEAR

SERIES 12
1967=100
2
3
4

-5.8
-4.1
-4.7

111.4
113.3
112.7

1/83
2/83
3/83

5
6
7
8

-5.2
-2.9
-1.5
-2.5

112.0
114.8
116.4
115.2

4/83
5/83
6/83
7/83

9
10
11

-3.2
-0.8
1.9

114.4
117.3
120.4

8/83
9/83
10/83

Percent

+ 25

Percent

MONTHS DEVIFROM ATIONS CURRENT MONTH
SPEC.
FROM ACTUAL
AND
TROUGH
9/82
DATA YEAR

+ 10

• 135
+ 20

+5

SERIES 12
1967=100

• 125

• 130

• 120

2.3
3.6
0.9

112.9 11/82
114.4 12/82
111.4
1/83

• 115

2.6
2.1
1.4
4.0

113.3
112.7
112.0
114.8

2/83
3/83
4/83
5/83

5.4
4.3
3.6
6.3

116.4
115.2
114.4
117.3

6/83
7/83
8/83
9/83

9.1

120.4

10/83

• 110

+15
• 125

9
10
11
12

-10

+10
• 120
8/70

+5

9/82

• 105

-15

915. Composite index of inventory
investment and purchasing

MONTHS D E V I FROM ATIONS CURRENT MONTH
FROM ACTUAL
REF.
AND
TROUGH
7/81
DATA YEAR

915. Composite index of inventory
investment and purchasing

SERIES 915
1967=100

Percent

+5
• 105

0
• 100

-5

2
3
4

-4.8
-3.2
-1.2

97.7
99.3
101.4

1/83
2/83
3/83

5
6
7
8

-0.8
-0.4
-0.3
0.4

101.8
102.2
102.3
103.0

4/83
5/83
6/83
7/83

9
10
11

1.9
2.0
2.3

104.5
104.7
105.0

8/83
9/8 3
10/83

Percent

• 115
+ 20

mo
+15

MONTHS DEVIFROM ATIONS CURRENT MONTH
AND
FROM ACTUAL
SPEC.
TROUGH
4/82
DATA YEAR

• 105

SERIES 9 1 5
1967=100

• 95

+10

96.4 12/82

-10
• 90

-15

...I.....!.....
-12

-6

1....I.....I...1.I1111.
0 + 6

+12

10
11
12

1.3
3.0
5.2
5.6

97.7
99.3
101.4
101.8

1/83
2/83
3/83
4/83

13
14
15
16

6.0
6.1
6.8
8.4

102.2
102.3
103.0
104.5

5/83
6/83
7/83
8/83

17
lb

8.6
8.9

104.7
9/83
105.0 10/83

+18

Months from reference troughs

+5

noo

11/70

,1
•12

-6

0

+6

1 I I I III I I I I I
+12

+18

Months from specific troughs

NOTE: For an explanation of these charts, see "How to Read Charts" on p. 106 of the Ouly 1983 issue.




107

G. Experimental Data and Analyses—Continued
Cyclical Comparisons: Current and Selected Historical Patterns-Continued

T
19. Index of stock prices
Ir

•I1"11

Deviations
from
reference
peaks

Actual
data
for
current
cycle

MONTHS
DEVIFROM ATIONS CURRENT MONTH
REF.
FROM
ACTUAL
AND
TROUGH
7/81
DATA
YEAR
SERIEf

III|I1IIijII1IIIIIiII|IIIII|

|IIIII

Deviations
from
specific
troughs

19. Index of stock prices

19

Actual
data
for
current
cycle

1941-43=10
Percent

+40
+ 30

•

170

•

160

+ 20
•

+ 10
0

150

• 140

•

130

•

120

1
2
3
4

11.7
13.7
17.6

139.37
144.27
146.80
151.88

12/82
1/83
2/83
3/83

5
6
7
8

22.1
27.1
28.9
29.3

157.71
164.10
166.39
166.96

4/83
5/83
6/83
7/83

9
10
11
12

25.8
29.5
29.8
28.1

162.42
167.16
167.65
165.46

8/83
9/83
10/83
11/83

-20

1170

• 160

MONTHS
DEVIFROM ATIONS CURRENT MONTH
FROM
AND
SPEC.
ACTUAL
TROUGH
DATA
YEAR
7/82

• 150

H40

SERIES 19
1941-43=10

-10

•no

7.9

5
6
7
8

27.4
31.9
34.2
38.9

139.37
144.27
146.80
151.88

12/82
1/83
2/83
3/83

9
10
11
12

44.2
50.0
52.1
52.6

157.71
164.10
166.39
166.96

4/83
5/83
6/83
7/83

13
14
15
16

48.5
52.8
53.3
51.3

162.42
167.16
167.65
165.46

8/83
9/83
10/83
11/83

•130

• 1OO

-30

-40

76. Industrial production, business
equipment

•

90

•

80

-

76. Industrial production, business
equipment

Percent

+ 12

Percent
MONTHS
DEVIFROM ATIONS CURRENT MONTH
AND
REF.
FROM
ACTUAL
TROUGH
7/81
YEAR
DATA

+8

+4

+10 * 1 2 0

- 8 #170

•

SERIES 76
1967=100

• 190

-4

+ 32
185

+ 28

2
3
4

-20.7
-22.8
-22.2

146.6
142.7
143.7

1/83
2/83
3/83

5
6
7
8

-20.5
-20.1
-18.7
-17.0

146.9
147.7
150.2
153.3

4/83
5/83
6/83
7/83

9 -15.3
10 -14.1
11 -12.2

156.5
158.8
162.3

8/83
9/83
10/83

+ 24

• 175

+ 20
• 165

+16
-12
• 160

DEVIMONTHS
FROM ATIONS CURRENT MONTH
FROM
SPEC.
AND
ACTUAL
2/83
TROUGH
DATA
YEAR
SERIES 76
1967=100

-16

0. T

• 150
-20

- 2 4 #140

-12

-6

0

+6

143.7
146.9
147.7
150.2

3/83
4/83
5/83
6/83

7.4
9.7
11.3
13.7

153.3
156.5
158.8
162.3

7/83
8/83
9/83
10/83

+12

108

For an explanation of these charts, see "How to Read Charts" on p. 106 of the July 1983 issue.




•

155

•

145

+8

2/83

0.7
2.9
3.5
5.3

Months from reference, troughs

NOTE:

+ 12

+4

,,.1

1

-U

-6

0

+ 6 +12

Months from specific troughs

+.18

G. Experimental Data and Analyses—Continued
Cyclical Comparisons: Current and Selected Historical Patterns—Continued

Deviations
from
reference
peaks

1. Employees on nonagricultural
payrolls
1

Actual
data

for

MONTHS DEVIFROM ATIONS CURRENT MONTH
AND
REF.
FROM ACTUAL
TROUGH
7/81
DATA YEAR

current
cycle

+6
• 96,000

+4

Employees on nonagricultural
payrolls

-3.0
-2.9

88814

2/83
3/83

5
6
7
8

-2.6
-2.3
-1.8
-1.5

89090
89421
89844
90152

4/83
5/83
6/83
7/83

9
10
11

-1.9
-0.8
-0.4

89735
90753
91073

8/83
9/83
10/83

• 93,000

191,000

1
2
3
4

• 95,000

• 90,000

-2
• 89,000

•88,000

+6

9
10

88885
88746
88814
89090

1/83
2/83
3/83
4/83

0.9
1.3
1.7
1.2

89421
89844
90152
89735

5/83
6/83
7/83
8/83

2.4
2.7

90753
91073

©94,000

•93,000

+4

0.2
0.1
0.2
0.5

for
current
cycle

+8

SERIES 4 1
THOUSANDS

• 92,000

Actual
data

Percent

MONTHS DEVIFROM ATIONS CURRENT MONTH
SPEC.
FROM ACTUAL
AND
TROUGH 12/82
DATA YEAR

Median

_4

Deviations
from
specific
troughs

• 95,000

• 94 000

+2

41.

SERIES 4 1
THOUSANDS

c,c,c 1

T

T

• 92,000

• 91,000

+2
• 90,000

• 89,000

9/83
10/83

45. Average weekly insured unemployment
rate (inverted)

45. Average weekly insured unemployment

Actual
data
(percent)

2-5

1970

rate (inverted)
MONTHS
FROM
REF.
TROUGH

CURRENT MONTH
ACTUAL
AND
DATA YEAR

Actual

-4-0

3-0

SERIES 4 5
PERCENT
1/83
2/83
3/83

-3-5

3.5

4.5
4.5
4.4
4.4
4.1
3.8
3.6

4/83
5/83
6/83
7/8 3

-3.0

4.0

H.5
• 2.0

• 2.5

-2-5
4-5

9
10
11

3.4
3.3
3.3

8/83
9/83
LO/83

• 3.0

-2.0
5.0

5-5

6.0

6.5

7.0

,1,,,,,I
-12

lllllllHll

-6

0

+6

+12

-1.5

SERIES 45
PERCENT

-1.0

• 4.0

2
3
4

-0.7
-0.7
-0.8

4.5
4.5
4.4

1/83
2/83
3/83

-0.5

5
6
7
8

-0.8
-1.1
-1.4
-1.6

4.4
4.1
3.8
3.6

4/83
5/83
6/83
7/83

0.0

9
.0
11

-1.8
-1.9
-1.9

3.4
3.3
3.3

8/83
9/83
10/83

+18

Months from reference troughs

NOTE:

• 3.5

MONTHS DEVIFROM ATIONS CURRENT MONTH
SPEC.
FROM ACTUAL
AND
TROUGH
DATA YEAR
8/81

14.5

ili
-12

-6

0

•I

I,

+6

+12

+ 18

Months from specific troughs

For an explanation of these charts, see "How to Read Charts" on p. 106 of the July 1983 issue.




109

ALPHABETICAL INDEX—SERIES FINDING GUIDE
o p r i p . tit.p
(See complete tmes in "Titles and
Sources of Series," following this index)

Current issue
Series ^ e n u m b e r s >
number Charts Tables

Historical
data
(issue date)

Series
description
(*)

A
Accession rate, manufacturing
Agricultural products, exports
Anticipations and intentions
Business expenditures, new plant and equipment
Business expenditures, new plant and equipment, Dl
Consumer sentiment, index
Employees, manufacturing and trade, Dl
Inventories, manufacturing and trade, Dl
New orders, manufacturing, Dl
Prices, manufacturing, Dl
Prices, retail trade, Dl
Prices, wholesale trade, Dl
Profits, manufacturing and trade, Dl
Sales, manufacturing and trade, Dl
Automobiles
Imports of automobiles and parts
Personal consumption expenditures
B
Balance of payments—See International transactions.
Bank loans—See Business Loans.
Bank rates—See Interest rates.
Bank reserves
Free reserves
Member bank borrowing from the Federal Reserve
Bonds—See Interest rates.
Borrowing—See Credit.
Budget—See Government.
Building—See Construction.
Building permits, new private housing
Business equipment, industrial production
Business expenditures, new plant and equipment
Business expenditures, new plant and equipment, Dl
Business failures, current liabilities
Business formation, index
Business incorporations
Business inventories—See Inventories.
Business loans
Loans outstanding, constant dollars
Loans outstanding, current dollars
Loans outstanding, net change
Business saving
C
Canada—See International comparisons.
Capacity utilization
Manufacturing (BEA)
Manufacturing (FRB)
Materials
Capital appropriations, manufacturing
Backlog
Newly approved
Newly approved, Dl
Capital equipment, producer price index
Capital investment—See Investment, capital.
Capital investment 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 labor force
Unemployed
Coincident indicators, four
Composite index
Composite index, rate of change
Diffusion index
Ratio to lagging indicators, composite index
Commercial and industrial buildings, contracts awarded
Commercial and industrial loans
Loans outstanding, constant dollars
Loans outstanding, current dollars
Loans outstanding, net change
Compensation—See also Income.
Compensation, average hourly, nonfarm
business sector
Compensation of employees, NIPA
Compensation of employees, percent of
national income
Compensation, real average hourly, nonfarm
business sector
Earnings, average hourly, production workers,
private nonfarm economy
Earnings, real average hourly, production workers,
private nonfarm economy
Wage and benefit decisions, first year
Wage and benefit decisions, life of contract
Wages and salaries in mining, manufacturing,
and construction :
Composite indexes
Coincident indicators
Four coinciders, index
Four coinciders, rate of change
Ratio to lagging indicator index
Lagging indicators
Six laggers, index
Six laggers, rate of change
Leading indicators
Capital investment commitments
Inventory investment and purchasing
Marginal employment adjustments
Money and financial flows
See notes at end of index.

110




2
604

16
56

61
92

8/81
1/83

18
64

61
970
58
974
975
971
976
978
977
972
973

24
38
22
38
38
38
38
38
38
38
38

67
76
65
76
76
76
76
76
76
76
76

6/82
6/82
12/82
5/83
5/83
5/83
5/83
5/83
5/83
5/83
5/83

34
34
31
48
48
48
48
49
48
48
48

616
55

56
22

92
65

1/83
8/83

64
50

72
72

6/83
6/83

45
45

29 13,25
76
24
61
24
970 38
14
33
12 12,23
13
23

67
67
67
76
72
65
65

6/83
12/82
6/82
6/82
5/83
2/83
5/83

35
24
34
34
44
32
32

101 15,35
72
35
112 32
295 46

73
73
72
82

7/83
7/83
7/83
11/83

93
94

33
33

43
43
37

83
82
84

20
20
20

64
64
64

12/82
8/83
8/83

25
25
25

97
11
965
333

24
24
37
48

66
66
75
86

1/83
1/83
1/83
4/83

33
33
33

914
35
34

11
29
29

60
70
70

2/83
8/83
8/83

15
37
37

89
62
89
62,89

3/83
3/83
3/83
3/83

20
20
20
20

442
51
90
18
441 51
37 18,51

60
74'
60
66

2/83
5/83
2/83
2/83
3/82

15
15
32

101 15,35
72
35
112 32

73
73
72

7/83
7/83
7/83

43
43

345
280

49
45

87
82

11/82
11/83

56
56

920
920c
951
940
9

10
39
36
11
23

15

64

30,47

70,83

9/83

56

346

49

88

11/82

56

340

49

87

9/83

15

341
348
349

49
50
50

87
88
88

9/83
8/81
8/81

15
62
62

53

19

63

8/83

22

920
920c
940

10
39
11

60

2/83
5/83
2/83

15

930
930c

10
39

60

2/83
5/83

15

914
915
913
917

11
11
11
11

60
60
60
60

2/83
2/83
2/83
2/83

15
15
15
15

60'

15

Series title
(See complete titles in "Titles and
Sources of Series," following this index)
Profitability
Twelve leaders, index
Twelve leaders, rate of change
Construction
Building permits, new private housing
Contracts awarded, commercial and
industrial buildings
Expenditures, plus machinery and equipment sales...
Gross private domestic fixed investment
Nonresidential, percent of GNP
Nonresidential structures, constant dollars
Nonresidential, total, constant dollars
Residential, percent of GNP
Residential, total, constant dollars
Housing starts
Consumer finished goods, producer price index
Consumer goods and materials, new orders
Consumer goods, industrial production
Consumer installment credit
Credit outstanding
Net change
Ratio to personal income
Consumer installment loans, delinquency rate
Consumer prices—See also International comparisons.
All items
Food
Consumer sentiment, index
Consumption expenditures—See Personal
consumption expenditures.
Contract awards, Defense Department
Contracts and orders, plant and equipment,
constant dollars
Contracts and orders, plant and equipment,
current dollars
Corporate bond yields
Corporate profits—See Profits.
Costs—See Labor costs and Price indexes.
Credit
Borrowing, total private
Business loans
Loans outstanding, constant dollars
Loans outstanding, current dollars
Loans outstanding, net change
Consumer installment credit
Credit outstanding
Net change
Ratio to personal income
Consumer installment loans, delinquency rate
Credit outstanding, percent change
Mortgage debt, net change
Crude and intermediate materials, change in
producer prices
Crude materials, producer price index

Debt-See Credit.
Defense and space equipment, output
Defense Department
Gross obligations incurred
Gross unpaid obligations
Net outlays
Personnel, civilian
Personnel, military
Prime contract awards
Defense products
Inventories, manufacturers'
New orders, manufacturers'
Shipments, manufacturers'
Unfilled orders, manufacturers'
Defense products industries, employment
Defense purchases, goods and services, NIPA
Defense purchases, percent of GNP
Deficit—See Government.
Deflators—See Price indexes.
Delinquency rate, consumer installment loans
Deliveries, vendor performance
Diffusion indexes
Business expenditures, new plant and equipment
Capital appropriations, manufacturing
Coincident indicators
Employees, manufacturing and trade
Employees on private nonagricultural payrolls
Industrial production
Industrial production, components
Initial claims, State unemployment insurance
Inventories, manufacturing and trade
Lagging indicators
Leading indicators
New orders, durable goods industries
New orders, durable goods industries, components..
New orders, manufacturing
Profits, manufacturing
Profits, manufacturing and trade
Raw industrials, spot market prices
Raw industrials, spot market prices, components....
Sales, manufacturing and trade
Selling prices, manufacturing
Selling prices, retail trade
Selling prices, wholesale trade
Stock prices, 500 common stocks
Workweek, manufacturing production workers
Workweek, manufacturing production workers,
components
Disposable personal income—See income.

Current issue
(page numbers)
number Charts Tables
Serjes

916
910
910c

11
10
39

29

13,25

60
60

Historical
data
(issue date)

Series
description

2/83
2/83
5/83

15
15

C)

6/83

9

23
24

66
67

3/82
9/83

32
28

248
87
86
249
89
28
334

47
25
25
47
25
25
48
12,21
22

83
67
67
83
67
67
86
64
65

11/83
8/83
8/83
11/83
8/83
6/83
4/83
6/83
12/82

51
51
51
51
51
35
60
26
24

66
113
95
39

35
32
15,35
33

73
72
73
72

4/83
4/83
11/83
11/83

43
43
43
45

320
322
58

49
49
22

84,95
84
65

3/83
3/83
12/82

59
59
31

525

53

90

4/83

64

20

12,23

66

9/83

32

10
116

23
34

66
73

9/83
8/83

32
46

110

32

101
72
112

15,35
35
32

73
73
72

7/83
7/83
7/83

66
113
95
39
111
33

35
32
15,35
33
13,32
32

73
72
73
72
72
71

4/83
4/83
11/83
11/83
7/83
3/82

98
331

28
48

69
85

2/83
4/83

557

54

517
543
580
578
577
525

53
53
54
55
55
53

90
90
91
91
91
90

7/82
4/83
7/83
12/82
12/82
4/83

559
548
588
561
570
564
565

54
53
54
54
55
55
55

91
90
91
91
91
91
91

6/83
6/83
6/83
6/83
7/83
11/83
11/83

39
32

33
12,21

72
64

11/83
5/83

45
28

970
965
951
974
963
966

38
37
36
38
36
37

6/82
1/83
2/83
5/83
7/83
7/82

34
33
15
48
15
24

962
975
952
950
964

36'
38
36
36
37

5/83
5/83
2/83
2/83
6/83

18
48
15
15
26

971
960
972
967

38'
37
38
37

5/83
12/82
5/83
6/83

48

973
976
978
977
968
961

38'
38
38
38
37
36

76
75
74
76
74
75
78
74
76
74
74
75
77
76
75
76
75
79
76
76
76
76
75
74

5/83
5/83
5/83
5/83
6/83
7/83

48
48
49
48
36
15

11/82
•43

43
43
43
43
45
42
60

7/82

64
26

53

48
36

ALPHABETICAL INDEX—SERIES FINDING GUIDE—Continued
Series title
(See complete titles in "Titles and
Sources of Series," following this index)

Current issue

Series (page n u m b e f S >
number Charts Tables

Historical
data
(issue date)

C)

Average weekly overtime

E
Earnings—See Compensation.
Employment and unemployment
Accession rate, manufacturing
Civilian labor force, total
Defense Department personnel, civilian
Defense Department personnel, military
Employee-hours in nonagricultural establishments
Rate of change

Total

Employees in mining, manufacturing,
and construction
Employees, manufacturing and trade, Dl
Employees on nonagricultural payrolls
Employees on private nonagricultural payrolls, Dl
Employment in defense products industries
Employment, ratio to population
Employment, total civilian
Help-wanted advertising in newspapers
Help-wanted advertising, ratio to unemployment
Initial claims, State unemployment insurance
Initial claims, State unemployment insurance, Dl
Layoff rate, manufacturing
Marginal employment adjustments, Cl
Overtime hours, manufacturing production workers
Participation rate, both sexes. 16-19 years old
Participation rate, females 20 years and over
Participation rate, males 20 years and over
Part-time workers for economic reasons
Persons engaged in nonagricultural activities
Quit rate, manufacturing
Unemployed, both sexes, 16-19 years old
Unemployed, females 20 years and over
Unemployed, full-time workers
,
Unemployed, males 20 years and over
Unemployment, average duration
Unemployment rate, 15 weeks and over
Unemployment rate, insured, average weekly
Unemployment rate, total
Unemployment, total civilian
Workweek, manufacturing production workers
Workweek, manufacturing production workers,
components
Workweek, manufacturing production workers, Dl
Equipment—See Investment, capital.
Exports-See International transactions.

Average workweek

2
441
578
577

16
51
55
55

48c

39

40
974
41
963
570
90
442
46
60
5
962
3
913
21
453
452
451
448
42
4
446
445
447
444
91
44
45
43
37
1

17
62
38
76
14,17 62
36
74
55
91
18
62
51
89
17
61
17
61
12,16 61
36
74
16
61
11
60
16
61
51
89
51
89
51
89
51
89
17
62
16
61
51
89
51
89
51
89
51
89
15,18 62
18
62
18
62
18
62
18,51 62,89
12,16 61

48

961

17

36

61
89
91
91

8/81
3/83
12/82
12/82

61

10/83
10/83

77
74

7/83
5/83
7/83
7/83
7/83
3/83
3/83
7/82
3/83
5/83
5/83
8/81
2/83
7/83
3/83
3/83
3/83
3/83
3/83
8/81
3/83
3/83
3/83
3/83
3/83
3/83
3/83
3/83
3/83
7/83

18
20

business product

Food-See Consumer prices.
Foreign trade—See International transactions.
France—See International comparisons.
Free reserves

15
48
15
15
20
20
19
19
18
18
18
15
15
20
20
20
20
20
18
20
20
20
20
20
20
18
20
20
15

119

34

72

10/83

94
213
917

33
40
11

72
80
60

6/83
10/83
2/83

311

48

84

8/83

45
49
15

93

33

72

6/83

49

20

63

8/83

502
501
500
512
511
510
298

52
52
52
52
52
52
46

90
90
90
90
90
90
83

10/83
10/83
10/83
10/83
10/83
10/83
11/83

62
62
62
62
62
62
58

263
262
265
564
565
267
266
268
261
260

43
43
47
55
55
43
43
47
43
43

81
81
83
91
91
81
81
83
81
81

11/83
11/83
11/83
11/83
11/83
11/83
11/83
11/83
11/83
11/83

53
53
53
53
53
53
53
53
53

311
68

48
30

84
70

8/83
8/83

58
39

10/83
10/83
10/83
10/83
10/83
10/83
9/83
8/83
8/83
10/83

49
49
49
49
49
49
40
25
49
49

7/82
3/83

19
19

Personal income, ratio to money supply M2
Proprietors' income with IVA and CCAdj
Proprietors' income with IVA and CCAdj, percent
of national income
Rental income of persons with CCAdj
Rental income of persons with CCAdj, percent
of national income
Wage and benefit decisions, first year
Wage and benefit decisions, life of contract
Wages and salaries in mining, manufacturing,
and construction
Incorporations, new businesses
Industrial commodities, producer price index
Industrial production—See also International comparisons.
Business equipment
Consumer goods
Durable manufactures
Nondurable manufactures

Total

50
50b
50c
200
200b
200c
107
49
310
217

19,40 63,80
....
80
39
80
40
80
....
80
....
80
31
71
20
63
48
84
40
80

H
Help-wanted advertising in newspapers
Help-wanted advertising, ratio to unemployment
Hours of production workers, manufacturing

Implicit price deflator, GNP
Imports—See International transactions.
Income
Compensation, average hourly, nonfarm
business sector
Compensation of employees
Compensation of employees, percent of
national income
Compensation, real average hourly, nonfarm
business sector
Consumer installment credit, ratio to personal income
Corporate profits with IVA and CCAdj
Corporate profits with IVA and CCAdj, percent
of national income
Disposable personal income, constant dollars
Disposable personal income, current dollars
Disposable personal income, per capita,
constant dollars
Earnings, average hourly, production workers,
private nonfarm economy
Earnings, real average hourly, production workers,
private nonfarm economy
Income on foreign investments in the United States
Income on U.S. investments abroad
lnterest,net
Interest, net, percent of national income
National income
Personal income, constant dollars
Personal income, current dollars
Personal income, less transfer payments, constant dollars
Rate of change

Total
7/83

G
Goods output in constant dollars
Government budget. NIPA
Federal expenditures
Federal receipts
Federal surplus or deficit
State and local expenditures
State and local receipts
State and local surplus or deficit
Surplus or deficit, total
Government purchases of goods and services
Federal, constant dollars
Federal, current dollars
Federal, percent of GNP
National defense
National defense, percent of GNP
State and local, constant dollars
State and local, current dollars
State and local, percent of GNP
Total, constant dollars
Total, current dollars
Gross domestic business product, fixed-weighted
price index
Gross domestic product, labor cost per unit
Gross national product
GNP, constant dollars
GNP, constant dollars, differences
GNP, constant dollars, percent changes
GNP, current dollars
GNP, current dollars, differences
GNP, current dollars, percent changes
GNP, ratio to money supply Ml
Goods output in constant dollars
Implicit price deflator
Per capita GNP, constant dollars
Gross private domestic investment—See Investment, capital.

Average workweek, components
Average workweek, Dl
Housing
Housing starts
Housing units authorized by local building permits
Residential GPDI, constant dollars
Residential GPDI, percent of GNP

46
60

17
17

61
61

Current issue
Series < * * numbers)
number Charts Tables
21

Historical
data
(issue date)

Series
description

7/83
7/83

15
15

C)

16

61

961

36

77
74

7/83

'is

28
29
89
249

25
13,25
25
47

67
67
67
83

6/83
6/83
8/83
11/83

35
35
51
51

310

48

84

8/83

345
280

49
45

87
82

11/82
11/83

56
56

1

12,16 61

'is

F
Federal funds rate
Federal Government—See Government.
Federal Reserve, member bank borrowing from
Final sales in constant dollars
Financial flows, Cl
Fixed investment—See Investment, capital.
Fixed weighted price index, gross domestic

o»ri« H H «
(See complete S e s in "Titles and
Sources of Series," following this index)

Series
description

Total, components
Total, Dl
Total, rate of change
Industrials, raw, spot market prices
Components
Diffusion index...
Spot market index
Installment credit-See Credit.
Insured unemployment
Average weekly initial claims
Average weekly initial claims, Dl
Average weekly insured unemployment rate
Interest, net
Interest, net, percent of national income
Interest rates
Bank rates on short-term business loans
Corporate bond yields
Federal funds rate
Mortgage yields, secondary market
Municipal bond yields
Prime rate charged by banks
Treasury bill rate
Treasury bond yields
Intermediate materials, producer price index
International comparisons
Consumer prices
Canada
France
Italy
Japan
United Kingdom
United States
West Germany
Industrial production
Canada
France
Italy
Japan
OECD, European countries
United Kingdom
United States
West Germany

64

30,47

70,83

9/83

56

346
95
286

49
15,35
45

88
73
82

11/82
11/83
11/83

56
43
37

287
225
224

47
40
40

83
80
80

11/83
10/83
10/83

37
22
22

227

40

80

10/83

340

49

87

9/83

341
652
651
288
289
220
52
223

49
57
57
45
47
45
19
40

87
93
93
82
83
82
63
63

9/83
8/83
8/83
11/83
11/83
10/83
8/83
8/83

15
65
65
57
57
55
22
22

51c

39

51

14,19 63

108
282

31
45

71
82

8/83
8/83
11/83
11/83

22
40
56

283
284

47
45

83
82

11/83
11/83

56
57

285
348
349

47
50
50

83
88
88

11/83
8/81
8/81

57
62
62

53
13
335

19
23
48

63
65
85

8/83
5/83
6/82

22
32

76
75
73
74

24
22
20
20

67
65
63
63

12/82
12/82
12/82
12/82
12/82

24
24
24
24
24

7/82
12/82

24

47 14,20,58 63,94
78
75

966
47c

37
39

967
23

37
28

79
75
69

6/83
6/83

36
36

5
962
45
288
289

12,16
36
18
45
47

61
74
62
82
83

5/83
5/83
3/83
11/83
11/83

18
18
18
57
57

67
116
119
118
117
109
114
115
332

35
34
34
34
34
35
34
34
48

73
73
72
73
73
73
72
73
86

12/82
8/83
10/83
10/83
10/83
7/83
8/83
8/83
4/83

46
46
46
46
46
46
46
46
60

733
736
737
738
732
320
735

....
....
....
....
....
49
....

96
95
96
95
95
84,95
95

4/82
4/82
4/82
4/82
4/82
3/83
4/82

68
68
69
69
68
59
68

94
94
94
94
94
94
63,94
94

1/83
1/83
1/83
11/83
1/83
1/83
12/82
1/83

66
66
66
66
66
66
24
66

723
58
726
58
727
58
728
58
721
58
722
58
47 14,20,58
725
58

See notes at end of index.




111

ALPHABETICAL INDEX—SERIES FINDING GUIDE—Continued
Series title
(See complete titles in "Titles and
Sources of Series," following this index)
Stock prices
Canada
France
Italy
Japan
United Kingdom
United States
West Germany
International transactions
Balance on goods and services
Balance on merchandise trade
Exports, merchandise, adjusted, excluding military
Exports, merchandise, total excluding military aid
Exports of domestic agricultural products
Exports of goods and services, constant dollars, NIPA ...
Exports of goods and services, current dollars, NIPA
Exports of goods and services, excluding military
Exports of nonelectrical machinery
Imports, merchandise, adjusted, excluding military
Imports, merchandise, total
Imports of automobiles and parts
Imports of goods and services, constant dollars, NIPA..
Imports of goods and services, current dollars, NIPA ....
Imports of goods and services, total
Imports of petroleum and products
Income on foreign investments in the United States
Income on U.S. investments abroad
Net exports of goods and services,
constant dollars, NIPA
Net exports of goods and services,
current dollars, NIPA
Net exports of goods and services, percent of GNP
Inventories
Business inventories, change, constant dollars, NIPA ....
Business inventories, change, current dollars, NIPA
Business inventories, change, percent of GNP
Defense products, manufacturers'
Finished goods, manufacturers'
Inventories on hand and on order, net change
Inventories to sales ratio, manufacturing and trade
Inventory investment and purchasing, Cl
Manufacturing and trade, constant dollars
Manufacturing and trade, current dollars
Manufacturing and trade, current dollars, change
Manufacturing and trade, Dl
Materials and supplies on hand and on order,
manufacturing
Materials and supplies on hand and on order,
manufacturing, change
Investment, capital
Capital appropriations, manufacturing, backlog
Capital appropriations, manufacturing, new
Capital appropriations, manufacturing, new, Dl
Capital investment commitments, Cl
Construction contracts, commercial and industrial
Construction expenditures, business, plus machinery
and equipment sales
Gross private domestic investment
Business inventories, change—See Inventories.
Fixed investment, constant dollars
Fixed investment, current dollars
Nonresidential, constant dollars
Nonresidential, percent of GNP
Producers' durable equipment, nonresidential,
constant dollars
Residential, constant dollars
Residential, percent of GNP
Structures, nonresidential, constant dollars
Total, constant dollars
Total, current dollars
New orders, capital goods, nondefense,
constant dollars
New orders, capital goods, nondefense,
current dollars
Plant and equipment
Business expenditures, new
Business expenditures, new, Dl
Contracts and orders, constant dollars
Contracts and orders, current dollars
Investment, foreign
Income on foreign investments in the United States ....
Income on U.S. investments abroad
Italy—See International comparisons.

Current issue
Series (page numbers)
number Charts Tables

Historical
data
(issue date)

Series
description

C)

743
746
747
748
742
19
745

59
59
59
59
59
59
59

96
96
96
96
96
96
96

12/82
12/82
12/82
12/82
12/82
12/82
12/82

70
70
70
70
70
36
70

667
622
618
602
604
256
252
668
606
620
612
616
257
253
669
614
652
651

57
57
57
56
56
44
44
57
56
57
56
56
44
44
57
56
57
57

93
93
93
92
92
82
82
93
92
93
92
92
82
82
93
92
93
93

8/83
8/83
8/83
5/82
1/83
11/83
11/83
8/83
1/83
8/83
5/82
1/83
11/83
11/83
8/83
1/83
8/83
8/83

65
65
65
64
64
54
54
65
64
65
64
64
54
54
65
64
65
65

44
47

82
83

11/83

255

250
251
30
245
247
559
65
36
77
915
70
71
31
975

26,42
42
47
54
27
13,26
15,27
11
27
27
26
38

68,81
81
83
91
68
68
68
60
68
68
68
76

27

11/83
11/83
8/83
11/83
11/83
6/83
6/83
9/83
9/83
2/83
9/83
9/83
9/83
5/83

54
54
51
51
51
28'
28
28
15
28
28
28

6/83
6/83

97
11
965
914
9

24
24
37
11
23

66
66
75
60
66

1/83
1/83
1/83
2/83
3/82

33
33
33
15
32

69

24

67

9/83

28

243
242
86
248

42
42
25
47

81
81
67
83

11/83
10/83
8/83
11/83

51
51
51
51

88
89
249
87
241
240

25
25
47
25
42
42

67
67
83
67
81
81

8/83
8/83
11/83
8/83
10/83
10/83

51
51
51
51
51
51

9/83
9/83
61
970
20
10

24
38
12,23
23

67
76
66
66

6/82
6/82
9/83
9/83

34
34
32
32

652
651

57
57

93
93

8/83
8/83

65
65

Japan—See International comparisons.

Labor cost per unit of gross domestic product
Labor cost per unit of output, manufacturing
Actual data
Artual data as percent of trend
Labor cost per unit of output, private business sector...
Labor cost, price per unit of, nonfarm business
Labor force—See Employment.
Lagging indicators, six
Composite index
Composite index, rate of change
Diffusion index
Layoff rate, manufacturing
Leading indicators, twelve
Composite index
Composite index, rate of change

See notes at end of index.

112




68

30

70

8/83

39

62
62
63
26

30
15
30
29

70
70
70
70

11/83
11/83
9/83
9/83

39

930
930c
952
3

10
39
36
16

60

910
910c

10
39

60

74
61

39

2/83
5/83
2/83
8/81

15

2/83
5/83

15

15
18

(See complete titles in "Titles and
Sources of Series," following this index)
Diffusion index
Liabilities of business failures
Liquid assets, change in total
Loans—See Credit.

Series (page n u m b e r s >
number Charts Tables
950
14
104

36
33
31

74
72
71

Historical
data
(issue date)

Series
description
(*)

2/83
5/83
4/83

15
44
40

M
Man-hours—See Employment.
Marginal employment adjustments, Cl
Materials and supplies on hand and on order,
manufacturing
Materials and supplies on hand and on order,
manufacturing, change
Materials, new orders for consumer goods and
Materials prices—See Price indexes.
Materials, rate of capacity utilization
Merchandise trade—See International transactions.
Military—See Defense.
Money and financial flows, Cl
Money supply
Liquid assets, change in total
Money supply M l , constant dollars
Money supply M l , percent changes
Money supply M2, constant dollars
Money supply M2, percent changes
Ratio, GNP to money supply Ml
Ratio, personal income to money supply M2
Mortgage debt, net change
Mortgage yields, secondary market
Municipal bond yields

913

11

60

2/83

15

78

27

68

6/83

28

38
26
8 12,21

68
64

6/83
6/83

28
26

84

20

64

8/83

917

11

60

2/83

104
31
105 31
85
31
106 13,31
102 31
107 31
108 31
33
32
118 34
117 34

71
71
71
71
71
71
71
71
73
73

4/83
4/83
4/83
4/83
4/83
9/83
11/83
3/82
10/83
10/83

40
40
40
40
40
40
40
42
46
46

27
23
24
23
8 12,21

66
66
64

9/83
9/83
6/83

26
26
26

20 12,23

66

9/83

32

10
548
7
6

23
53
21
21

9/83
6/83
6/83
6/83

32
26
26
26

964
971

37
38

66
90
64
64
77
75
76

6/83
5/83

26
48

88
87
86
248

25
25
25
47

67
67
67
83

8/83
8/83
8/83
11/83

51
51
51
51

517
543
721

53
53
58

90
90
94

7/82
4/83
1/83

66

580

54

91

7/83

557
49

54
20

91
63

7/82
8/83

62
62
358
370
83
82
84
21

30
15
50
50
20
20
20
16

70
70
88
88
64
64
64
61

11/83
11/83
12/82
11/82
12/82
8/83
8/83
7/83

39

453
452
451

51
51
51

89
89
89

3/83
3/83
3/83

20
20
20

55
233
232
238
236
239
237
231
230
235

22
41
41
41
41
41
41
41
41
47

65
80
80
81
81
81
81
80
80
83

8/83
10/83
10/83
10/83
10/83
10/83
10/83
10/83
10/83
10/83

50
50
50
50
50
50
50
50
50
50

292
293
614

46
46
56

82
83
92

11/83
11/83
1/83

58
58
64

67
76
66
66
62

6/82
6/82
9/83
9/83
3/83

34
34
32
32
20

N
National defense—See Defense.
National Government—See Government.
National income—See Income.
New orders, manufacturers'
Capital goods industries, nondefense,
constant dollars
Capital goods industries, nondefense, current dollars
Consumer goods and materials, constant dollars
Contracts and orders, plant and equipment,
constant dollars
Contracts and orders, plant and equipment,
current dollars
Defense products
Durable goods industries, constant dollars
Durable goods industries, current dollars
Components
Diffusion index
New orders, manufacturing, Dl
Nonresidential fixed investment, GPDI
Producers' durable equipment, constant dollars
Structures, constant dollars
Total, constant dollars
Total, percent of GNP
0
Obligations incurred, Defense Department
Obligations unpaid, Defense Department
OECD, European countries, industrial production
Orders—See New orders and Unfilled orders.
Outlays, Defense Department
Output—See also Gross national product and
Industrial production.
Defense and space equipment, output
Goods output, constant dollars
Labor cost per unit of
Actual data
Actual data as percent of trend
Per hour, nonfarm business sector
Per hour, private business sector
Ratio to capacity, manufacturing (BEA)
Ratio to capacity, manufacturing (FRB)
Ratio to capacity, materials....
Overtime hours, manufacturing production workers
P
Participation rates, civilian labor force
Both sexes, 1619 years of age
Females 20 years and over
Males 20 years and over
Personal consumption expenditures
Automobiles
Durable goods, constant dollars
Durable goods, current dollars
Nondurable goods, constant dollars
Nondurable goods, current dollars
Services, constant dollars
Services, current dollars
Total, constant dollars
Total, current dollars
Total, percent of GNP
Personal income—See Income.
Personal saving
Personal saving rate
Petroleum and products, imports
Plant and equipment—See also Investment, capital.
Business expenditures, new
Business expenditures, new, Dl
Contracts and orders, constant dollars
Contracts and orders, current dollars
Population, civilian employment as percent of

61
24
970 38
20 12,23
10
23
90
18

25

61
61
25
25
25
15

ALPHABETICAL INDEX—SERIES FINDING GUIDE—Continued
Series title
(See complete titles in "Titles and
Sources of Series," following this index)
Price indexes
Consumer prices-See also International comparisons.
All items

Defied NIPA
Fixed-weighted, gross domestic business product
Implicit price deflator, GNP
Labor cost, price per unit of, nonfarm business
Producer prices
Allcommodit.es
Capital equipment
Crude materials
Finished consumer goods
Industrial commodities
Intermediate materials
Sensitive crude and intermediate materials
Raw industrials, spot market prices
Components

Diffusion index!

ZZZZZ'.'.ZZ'Z'.I

Spot market index
Sensitive crude and intermediate materials, change
in producer prices
Sensitive materials prices, percent change
Stock prices-See also International comparisons
500 common stocks
500 common stocks, Dl
Price to unit labor cost, nonfarm business
p rices se||mg
Manufacturing Dl
Reta.l trade. Dl
..'
Wholesale trade, Dl
Prime contract awards, Defense Department
Prime rate charged by banks
Producer prices-See Price indexes.
Producers' durable equipment, nonresidential. GPDI
Production-See Gross national product and
Industrial production.
Productivity
Output per hour, nonfarm business sector
Output per hour, private business sectoi
Profitability, Cl
Profits
Corporate profits after taxes
Constant dollars
Current dollars
With IVA and CCAdj. constant dollars
With IVA and CCAdi, current dollars
Corporate profits, total
With IVA and CCAdj
With IVA and CCAdi, percent of national income
Manufacturing and trade, Dl
Manufacturing, Dl
Per dollar of sales, manufactur.ng
Profitability, Cl
Ratio, profits to corporate domestic income
Ratio, profits with IVA and CCAdi to corporate
domestic income
Proprietors'income with IVA and XAd|
Proprietors' income with IVA and CCAdj. percent of
natonahncome

Historical

Series

data
(issue date)

description

84,95

3/83

59

Salaries-See Compensation.

59

' i L . sa.es, constant dollars
Machinery and equipment sales and business
construction expenditures
Manufacturing and trade sales, constant dollars
Manufacturing and trade sales, current dollars
Manufacturing and trade sales, Dl
Ratio, inventories to sales, manufacturing and trade
Retail sales constant dollars
Retail sales, current dollars
Saving
.
Business saving.
Government surplus or deficit
Gross saving, private and government
Personal saving
Personal saving rate
Selling prices-See Prices, selling
Sensitive crude and intermediate materials, change
'" producer prices
Sensitlve matenals nces
P - P ercent c h a n 8 e
Shipments of defense products
Spot market prices, raw industrials
Components
Diffusion index j
Spot market index
state and local
government-See Government.
Stock prices-See also International comparisons.
$00 common stocks
„ 500 common stocks Dl
Stocks of materials and supplies on hand and on order
Stocks of materials and supplies on hand and on
order, change
Surplus—See Government.

numDers
(na^numbeTs)
Series lpage
'
number Charts Tables

49

322

49

311
310
26

48
48
29

84
84
70

8/83
8/83
9/83

58
49

330
333
331
334
335
332
98

48
48
48
48
48
48
28

85
86
85
86
85
86
69

5/82
4/83
4/83
4/83
6/82
4/83
2/83

59
60
60
60

967
23

37
28

79
75
69

6/83
6/83

36
36

98
99

28
13,28

69
69

2/83
2/83

19
968
26

13,28
37
29

69
75
70

7/82
6/83
9/83

36
36

976
978
977
525
109

38
38
38
53
35

76
76
76
90
73

5/83
5/83
5/83
4/83
7/83

48
49
48
64
46

8/83

fo^mta)
Series {pag*numpers'
number Charts Tables

Historical

data
(issue date)

Series

description
(*)

213

40

80

69
24
67
57 14,22 65
56
22
65
973 38
76
77 15,27 68
5
?
j-2
65
54
22
65
...
AC
oo
295 46
82
298 46
83
290 46
82
292 46
82
293 46
83
98
28
69
M
13,28 69
588 54
91

10/83

49

9/83
9/83
9/83
5/83
9/83
9/83
9/83

28
28
28
48
28
31
31
„
37
58
58
58
58

l1/00

11/83
11/83
11/83
11/83
11/83
2/83
2/83
6/83

37
28

79
75
69

....
6/83
6/83

....
36
36

19 13 28
968 37
78
27

69
75
68

7/82
6/83
6/83

36
36
28

38

26

68-

6/83

28

114

34

72

8/83

46

115

34

73

8/83

46

91 1518 62
60
17
6
5
1216 6
962 36
74
3
16
61

3/83
3/83
5/83
5/83
8/81

20
9
8
8
18

446 5
445 51
447 5
444 51
37 18,51
4
16

89
89
89
89
62 89
61

3/83
3/83
3/83
3/83
3/83
8/81

20
20
20
20
20
18
^U
18

967
23

T

358
370
916

50
50
11

88
88
60

12/82
11/82
2/83

61
61
15

Treasury bill rate

...

Treasury bond yields
y

18
16
80
79

28
28
29
29

69
69
69
69

8/83
8/83
8/83
8/83

37
37
37
37

286
287
972
960
15
916
22

45
47
38
37
29
11
29

82
83
76
75
70
60
69

11/83
11/83
5/83
12/82
5/83
2/83
8/83

37
37
48

81
282

29
45

70
82

8/83
11/83

37
56

283

47

83

11/83

56

38
15
37

8/81

Raw industrials, spot market prices
Components

Rental income of persons with CCAd|, percent
of national income
Reserves, free
Res.dent.al f.xed mvestment, constant dollars, GPDI
Residential fixed investment percent of GNP
Residential structures-See Housing.
Retail sales, constant dollars
Retail sales, current dollars

Series title

(See complete titles in "Titles and
Sources of Series," following this index)
5

320

Quit rate, manufacturing

::::::::::::

(*)

Velocity of money

79
967
23
284

37'
45

6/83
82

Unemployment
Duration of unemployment average
Help-wanted advertising, ratio to unemployment
Initial claims for unemployment insurance.
ln| |al claims f r
t
° unemployment insurance, Dl
Layoff rate, manufacturing
Number unemployed civilian labor force
Both sexes, 16-19 years of age
Females 20 years and over
Full-time workers
Males 20 years and over
Total unemployed..
Quit rate, manufacturing
Unemployment rates
15 weeks and over...
'ns"'ed ""employment
U n W orU'manufacturer^
Defense products
Durable goods industries
Durable goods industries, change
United Kingdom—See International comparisons.

n/83

36
57

285
93
89
249

47
33
25
47

83
72
67
83

11/83
6/83
8/83
11/83

57
45
51
51

59
54

22
22

65
65

9/83
9/83

31
31

44
45

8
8

U
62

561
96
25

54
21
21

91
64
64

J/W
3/83
'
6/83
6/83
6/83

31
31
12,21

71

9/8J)

40

32

64

5/83

28

1

12,16

15

36

61
77
74

7/83

961

7/83

15

107

Ppr<tnnal inrnmp tn mnnpv ttmnlv M9 ratin

Vendor performance, slower deliveries

26
26

W
Wages and salaries—See Compensation.
West Germany—See International comparisons.
Workweek of manufacturing production workers
/average worn wee K
Components
Diffusion index

NOTE: CCAdi, capital consumption adjustment; Cl, composite index; Dl, diffusion index; GNP, gross national product; GPDI, gross private domestic investment; IVA, inventory valuation adjustment; NIPA, national income and product accounts.
* The number shown is the page of the Handbook of Cyclical Indicators (1977) on which the series description appears.




113

TITLES AND SOURCES OF SERIES
Series are listed below according to the sections of this report
in which they appear. Series numbers are for identification
only and do not reflect relationships or order among the
series. " M " following a series title indicates monthly data;
"Q" indicates quarterly data. Data apply to the whole period
except when indicated by "EOM" (end of month) or "EOQ"
(end of quarter).
To save space, the commonly used sources listed below are
referred to by number:
Source 1—U.S. Department of Commerce, Bureau of
Economic Analysis; Source 2—U.S. Department of Commerce,
Bureau of the Census; Source 3—U.S. Department of Labor,
Bureau of Labor Statistics; Source 4—Board of Governors of
the Federal Reserve System.

Bureau of Economic Analysis
(Used by permission.
This series may not be reproduced without written
permission from the source.)
(23,66)

33.

Net change in mortgage debt held by financial
institutions and life insurance companies (M).—
American Council of Life Insurance; Federal National
Mortgage Association; U.S. Department of Housing and
Urban Development, Government National Mortgage
Association; National Association of Mutual Savings
Banks; U.S. Savings and Loan League; and source 4;
seasonal adjustment by Bureau of Economic
Analysis
(32,71)

34.

Net cash flow, corporate, in current dollars ( Q ) . Source 1
(29,70)

35.

Net cash flow, corporate, in 1972 dollars (Q).-Source
1
(29,70)

36.

Net change in inventories on hand and on order in 1972
dollars (smoothed) (M).-Sources 1, 2, and 3(13,26,68)

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)

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)

I-A. Composite Indexes

14. Current liabilities of business failures (M).—Dun &
Bradstreet, Inc.
(33,72)

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)

910.

Composite index of twelve leading indicators (includes
series 1, 5, 8, 12, 19, 20, 29, 32, 36, 99,106, 111)
(M).-Source 1
(10,39,60)

15.

Profits (after taxes) per dollar of sales, all
manufacturing corporations (Q).—Federal Trade Commission; seasonal adjustment by Bureau of Economic Analysis
(29,70)

913.

Composite index of marginal employment adjustments
(includes series 1, 2, 3, 5) (M).-Source 1
(11,60)

914.

Composite index of capital investment commitments
(includes series 12, 20, 29) (M).-Source 1 (11,60)

16. Corporate profits after taxes in current dollars (Q).—
Source 1
(28,69)

42.

915.

Composite index of inventory investment and
purchasing (includes series 8, 32, 36, 99) (M).-Source
1
(11,60)

18. Corporate profits after taxes in 1972 dollars ( Q ) . Source 1
(28,69)

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

20.

45.

Average weekly insured unemployment rate, State
programs (M).-U.S. Department of Labor, Employment
and Training Administration
(18,62)
Index of help-wanted advertising in newspapers (M).—
The Conference Board
(17,61)

916.

Composite index of profitability (includes series 19,26,
80) (M).-Source 1
(11,60)

41. Number of employees on nonagricultural payrolls,
establishment survey (M).-Source 3
(14,17,62)

over (M).-Sources 2 and 3

(18,62)

917.

Composite index of money and financial flows (includes
series 104, 106, 111) (M).-Source 1
(11,60)

Contracts and orders for plant and equipment in 1972
dollars (M).-Sources 1, 2, 3, and McGraw-Hill
Information Systems Company
(12,23,66)

920.

Composite index of four roughly coincident indicators
(includes series 4 1 , 47, 5 1 , 57) (M).-Source
1
(10,39,60)

21. Average weekly overtime hours of production workers,
manufacturing (M).—Source 3
(16,61)

46.

930.

Composite index of six lagging indicators (includes
series 62, 77, 91, 95, 101, 109) (M).-Source
1
(10,39,60)

22.

Ratio of profits (after taxes) to total corporate domestic
income (Q).-Source 1
(29,69)

47.

Ratio, coincident composite index (series 920) to lagging composite index (series. 930) (M).—Source
1
(11,60)

23. Index of spot market prices, raw industrial materials
(M).—Source 3 and Commodity Research Bureau, Inc.
(Used by permission. Beginning with June 1981, this
series may not be reproduced without written permission
from Commodity Research Bureau, Inc.)
(28,69,79)

48.

940.

49.

Value of goods output in 1972 dollars (Q).-Source

24.

Value of manufacturer's new orders, capital goods
industries, nondefense, in current dollars (M).-Source
2
(23,66)

50.

Gross national product in 1972 dollars (Q).-Source
1
(19,39,40,63,80)

25.

Change in manufacturers' unfilled orders, durable goods
industries (M).-Source 2
(21,64)

26.

Ratio, implicit price deflator to unit labor cost, nonfarm
business sector (Q).-Sources 1 and 3
(29,70)

53.

27.

Value of manufacturers' new orders, capital goods
industries, nondefense, in 1972 dollars (M).—Sources
1, 2, and 3
(23,66)

Wage and salary income in mining, manufacturing, and
construction in 1972 dollars (M).—Sources 1 and
3
(19,63)

54.

28.

New private housing units started, total (M).—Source
2
(25,67)

Sales of retail stores in current dollars (M).—Source
2
(22,65)

55.

6. Value of manufacturers' new orders, durable goods
industries, in current dollars (M).-Source 2(21,64,77)

29.

Index of new private housing units authorized by local
building permits (M).-Source 2
(13,25,67)

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)

57.

31. Change in book value of manufacturing and trade
inventories, total (M).-Sources 1 and 2
(26,68)

Manufacturing and trade sales in 1972 dollars ( M ) . Sources 1, 2, and 3
(14,22,65)

58.

9. Construction contracts awarded for commercial and
industrial buildings, floor space (M).—McGraw-Hill
Information Systems Company; seasonal adjustment by

32. Vendor performance, percent of companies receiving
slower deliveries (M).-Purchasing Management
Association of Chicago
(12,21,64)

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)

1-B. Cyclical Indicators
1. Average workweek of p r o d u c t i o n w o r k e r s ,
manufacturing (M).-Source 3
(12,16,61,77)
2. Accession rate, manufacturing (M).-Source 3 (16,61)
3. Layoff rate, manufacturing (M).-Source 3

(16,61)

4. Quit rate, manufacturing (M).-Source 3

(16,61)

5. Average weekly initial claims for
insurance, State programs (M).-U.S.
Labor, Employment and Training
seasonal adjustment by Bureau
Analysis

114




unemployment
Department of
Administration;
of Economic
(12,16,61)

Index of

industrial

4
Employee-hours
(M).-Source 3

1

production, total

(M).—Source

(14,20,39,58,63,78,94)
in

nonagricultural

establishments
(17,39,61)

(20,63)

51. Personal income, less transfer payments, in 1972 dollars (M).-Source 1
(14,19,39,63)
52.

Personal income, total, in 1972 dollars (M).-Source

1

(19,63)

TITLES AND SOURCES OF SERIES- Continued
60. Ratio, help-wanted advertising in newspapers (series
46) to number of persons unemployed (series 37)
( M ) . - S o u r c e s 1, 2, 3, and The Conference
Board
(17,61)
61. Business expenditures for new plant and equipment,
total (Q).-Source 1
(24,67)
62.

Index of labor cost per unit of output, total
manufacturing—ratio, index of compensation of
employees in manufacturing (sum of wages, salaries,
and supplements to wages and salaries) to index of
industrial production, manufacturing (M).—Sources 1
and 4
(15,30,70)

63. Index of unit labor cost, private business sector (Q).—
Source 3
(30,70)

86. Gross private domestic fixed investment, total
nonresidential, in 1972 dollars (Q).-Source 1 (25,67)

119.

Federal funds rate (M).-Source 4

(34,72)

1-C. Diffusion Indexes

87. Gross private domestic fixed investment, nonresidential
structures, in 1972 dollars (Q).-Source 1
(25,67)

950.

88. Gross private domestic fixed investment, nonresidential
producers' durable equipment, in 1972 dollars (Q).—
Source 1
(25,67)

951. Diffusion index of four roughly coincident indicator
components (M).—Source 1
(36,74)

Diffusion index of twelve leading indicator components
(M).-Source 1
(36,74)

89. Gross private domestic fixed investment, total
residential, in 1972 dollars (Q).-Source 1
(25,67)

952.

Diffusion index of six lagging indicator components
(M).-Source 1
(36,74)

90. Ratio, civilian employment to total population of
working age (M).-Sources 1, 2, and 3
(18,62)

960.

Diffusion index of net profits, manufacturing—about
600 companies (Q).-Dun & Bradstreet, Inc. (Used by
permission. This series may not be reproduced without
written permission from the source.)
(35,75)

91. Average (mean) duration of unemployment in weeks
(M).-Sources 2 and 3
(15,18,62)
93. Free reserves (member banks excess reserves minus
borrowings) (M).-Source 4
(33,72)

65. Manufacturers' inventories of finished goods, book
value, all manufacturing industries (EOM).—Source
2
(27,68)

961. Diffusion index of average workweek of production
workers, manufacturing—20 industries (M).—Sources 1
and 3
(36,74,77)

94. Member bank borrowings from the Federal Reserve
(M).-Source 4
(33,72)

962.

66. Consumer installment credit (EOM).-Source 4

95. Ratio, consumer installment credit to personal income
(EOM).-Sources 1 and 4
(15,35,73)

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—172-186 industries (M).—
Source 3
(36,74)

964.

Diffusion index of value of manufacturers' new orders,
durable goods industries— 34-35 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)

101. Commercial and industrial loans outstanding in 1972
dollars (M).-Sources 1, 3, and 4
(15,35,73)

966.

Diffusion index of industrial production—24 industries
(M).-Sources 1 and 4
(37,75,78)

102.

Change in money supply M2 (M).-Source 4 (31,71)

104.

Change in total liquid assets (smoothed) (M).—Sources
1 and 4
(31,71)

967. Diffusion index of spot market prices, raw industrials—
13 industrial materials (M).—Sources 1, 3, and
Commodity Research Bureau, Inc.
(35,75,79)

64. Compensation of employees as a percent of national
income (Q).-Source I
(30,47,70,83)

(35,73)

67. Bank rates on short-term business loans (Q).—Source
4
(35,73)
68. Labor cost (current dollars) per unit of gross domestic
product (1972 dollars), nonfinancial corporations—ratio
of current-dollar compensation of employees to real
gross corporate product (Q).—Source 1
(30,70)
69. Manufacturers' machinery and equipment sales and
business construction expenditures (industrial and commercial construction put in place) (M).—Source
2
(24,67)
70. Manufacturing and trade inventories in 1972 dollars
(EOM).—Sources 1, 2, and 3
(27,68)
71. Manufacturing and trade inventories, total book value,
in current dollars (EOM).-Sources 1 and 2 (27,68)
72. Commercial and industrial loans outstanding in current
dollars (M).-Sources 1 and 4
(35,73)
73. Index of industrial production, durable manufactures
(M).-Source 4
(20,63)
74.

Index of industrial production,
manufactures (M).-Source 4

nondurable
(20,63)

96. Manufacturers' unfilled orders, durable goods industries
(EOM).-Source 2
(21,64)
97. Backlog of capital appropriations, 1,000 manufacturing
corporations (EOQ).—The Conference Board
(24,66)
98. Change in producer prices for 28 sensitive crude and
intermediate materials (M).—Sources 1 and 3 (28,69)
99. Change in sensitive materials prices (smoothed) (M).—
Sources 1, 3, and Commodity Research Bureau, Inc.

(13,28,69)

105. Money supply M l in 1972 dollars (M).-Sources 1,3,
and 4
(31,71)
106.

Money supply M2 in 1972 dollars (M).-Sources 1, 3,
and 4
(13,31,71)

107. Ratio, gross national product to money supply

(Q).-Sources 1 and 4
108.

Ratio, personal income to money supply M2 (M).—
Sources 1 and 4
(31,71)

76. Index of industrial production, business equipment
(M).-Source 4
(24,67)

109.

Average prime rate charged by banks (M).—Source
4
(35,73)

77. Ratio, constant-dollar inventories (series 70) to sales
(series 57), manufacturing and trade, total (EOM).—
Sources 1, 2, and 3
(15,27,68)

110. Total funds raised by private nonfinancial borrowers in
credit markets (Q).-Source 4
(32,72)

78. Stocks of materials and supplies on hand and on order,
manufacturing (EOM).-Source 2
(27,68)

111. Change in credit outstanding (business and consumer
borrowing) (M).—Sources 1, 4, and Federal Home
Loan Bank Board
(13,32,72)

(Q).-Source 1

(29,69)

113.

Net change in consumer installment credit (M).—Source
4
(32,72)

(29,69)

114.

Discount rate on new issues of 91-day Treasury bills
(M).-Source 4
(34,72)

81. Ratio of profits (after taxes) with inventory valuation
and capital consumption adjustments to total corporate
domestic income (Q).-Source 1
(29,70)

115.

Yield on long-term Treasury
Department of the Treasury

116.

Yield on new issues of high-grade corporate bonds
( M ) . - C i t i b a n k and U.S. Department of the
Treasury
(34,73)

83. Rate of capacity utilization, manufacturing (EOQ).—
Source 1
(20,64)

117.

Yield on municipal bonds, 20-bond average (M).—The
Bond Buyer
(34,73)

84. Rate of capacity utilization, materials (Q).—Source
4
(20,64)

118.

Secondary market yields on FHA mortgages (M).—U.S.
Department of Housing and Urban Development, Federal
Housing Administration
(34,73)

82. Rate of capacity utilization, manufacturing (Q).—Source
4
(20,64)

85. Change in money supply M l (M).-Source 4




(31,71)

970.

Diffusion index of business expenditures for new plant
and equipment, total— 22 industries (Q).—Source
1
(38,76)

971. Diffusion index of new orders, manufacturing—about
600 businessmen reporting (Q).—Dun & Bradstreet, Inc.
(Used by permission. This series may not be reproduced
without written permission from the source.) (38,76)
972.

Diffusion index of net profits, manufacturing and
trade—about 1,400 businessmen reporting (Q).—Dun &
Bradstreet, Inc. (Used by permission. This series may
not be reproduced without written permission from the
source.)
(38,76)

973.

Diffusion index of net sales, manufacturing and t r a d e about 1,400 businessmen reporting (Q).—Dun &
Bradstreet, Inc. (Used by permission. This series may
not be reproduced without written permission from the
source.)
(38,76)

974.

Diffusion index of number of employees, manufacturing
and trade—about 1,400 businessmen reporting (Q).—
Dun & Bradstreet, Inc. (Used by permission. This series
may not be reproduced without written permission from
the source.)
(38,76)

975.

Diffusion index of level of inventories, manufacturing
and trade—about 1,400 businessmen reporting (Q).—
Dun & Bradstreet, Inc. (Used by permission. This series
may not be reproduced without written permission from
the source.)
(38,76)

976.

Diffusion index of selling prices, manufacturing—about
600 businessmen reporting (Q).—Dun & Bradstreet, Inc.
(Used by permission. This series may not be reproduced
without written permission from the source.) (38,76)

112. Net change in business loans (M).—Sources 1 and 4
(32,72)

80. Corporate profits after taxes with inventory valuation
and capital consumption adjustments in 1972 dollars

(Q)-Source 1

Diffusion index of stock prices, 500 common stocks—
49-82 industries (M).—Standard & Poor's Corporation
(37,75)

Ml

(31,71)

75. Index of industrial production, consumer goods (M).—
Source 4
(22,65)

79. Corporate profits after taxes with inventory valuation
and capital consumption adjustments in current dollars

968.

bonds

(M).—U.S.
(34,73)

115

TITLES AND SOURCES OF SERIES- Continued
977. Diffusion index of selling prices, wholesale trade—about
400 businessmen reporting (Q).—Dun & Bradstreet, Inc.
(Used by permission. This series may not be reproduced
without written permission from the source.) (38,76)
978. Diffusion index of selling prices, retail trade—about 400
businessmen reporting (Q).—Dun & Bradstreet, Inc.
(Used by permission. This series may not be reproduced
without written permission from the source.) (38,76)

Il-A. National Income and Product
30. Gross private domestic investment, change in business
inventories, all industries, in 1972 dollars (Q).-Source
1
(26, 42, 68, 81)
50. Gross national product in 1972 dollars (Q).—Source
1
(19,39,40,63,80)
64. Compensation of employees as a percent of national
income (Q).-Source 1
(30,47,70,83)
200. Gross national product in current dollars (Q).—Source
1
(40,80)
213. Final sales (series 50 minus series 30) in 1972 dollars
(Q).-Source 1
(40,80)
217. Per capita gross national product in 1972 dollars (Q).—
Sources 1 and 2
(40,80)
220. National income in current dollars (Q).-Source
1
(45,82)
223. Personal income in current dollars (M).—Source
1
(40,63)
224. Disposable personal income in current dollars ( Q ) . Source 1
(40,80)
225. Disposable personal income in 1972 dollars ( Q ) . Source 1
(40,80)
227. Per capita disposable personal income in 1972 dollars
(Q).-Sources 1 and 2
(40,80)

247. Gross private domestic investment, change in business
inventories, all industries, as a percent of gross national
product (Q).-Source 1
(47,83)

292. Personal saving (Q).-Source 1

248. Gross private domestic fixed investment, nonresidential,
as a percent of gross national product (Q).-Source
1
(47,83)

295. Business saving-undistributed corporate profits plus
capital consumption allowances with inventory valuation
and capital consumption adjustments (Q).—Source
1
(46,82)

249. Gross private domestic fixed investment, residential, as
a percent of gross national product (Q).-Source
1
(47,83)
250. Net exports of goods and services in current dollars;
national income and product accounts (Q).—Source
1
(44,82)
251. Net exports of goods and services as a percent of gross
national product (Q).-Source 1
(47,83)
252. Exports of goods and services in current dollars;
national income and product accounts (Q).—Source
1
(44,82)
253. Imports of goods and services in current dollars;
national income and product accounts (Q).-Source
1
(44,82)
255. Net exports of goods and services in 1972 dollars;
national income and product accounts (Q).-Source
1
(44,82)
256. Exports of goods and services in 1972 dollars; national
income and product accounts (Q).—Source 1 (44,82)
257. Imports of goods and services in 1972 dollars; national
income and product accounts (Q).-Source 1 (44,82)
260. Government purchases of goods and services, total, in
current dollars (Q).-Source 1
(43,81)
261. Government purchases of goods and services, total, in
1972 dollars (Q).-Source 1
(43,81)
262. Federal Government purchases of goods and services in
current dollars (Q).-Source 1
(43,81)
263. Federal Government purchases of goods and services in
1972 dollars (Q).-Source 1
(43,81)

(46,82)

293. Personal saving rate—personal saving as a percent of
disposable personal income (Q).-Source 1 (46,83)

298. Government surplus or deficit, total (Q).-Source
1
(46,83)

Il-B. Prices, Wages, and Productivity
310. Implicit price deflator, gross national product (Q).—
Source 1
(48,84)
311. Fixed-weighted price index, gross business product

(Q).-Source 1

(48,84)

320. Index of consumer prices, all items (M).—Source
3
(49,59,84,95)
322. Index of consumer prices, food (M).-Source 3(49,84)
330. Index of producer prices, all commodities (M).—Source
3
(48,85)
331. Index of producer prices, crude materials for further
processing (M).-Source 3
(48,85)
332. Index of producer prices, intermediate materials, supplies, and components (M).-Source 3
(48,86)
333. Index of producer prices, capital equipment ( M ) . Source 3
(48,86)
334. Index of producer prices, finished consumer goods
(M).-Source 3
(48,86)
335. Index of producer prices, industrial commodities ( M ) . Source 3
(48,85)
340. Index of average hourly earnings of production workers,
private nonfarm economy—adjusted for overtime (in
manufacturing only), interindustry employment shifts,
and seasonality (M).-Source 3
(49,87)

265. Federal Government purchases of goods and services as
a percent of gross national product (Q).—Source
1
(47,83)
266. State and local government purchases of goods and
services in current dollars (Q).—Source 1
(43,81)
267. State and local government purchases of goods and
services in 1972 dollars (Q).-Source 1
(43,81)

341. Index of real average hourly earnings of production
workers, private nonfarm economy-adjusted for
overtime (in manufacturing only), interindustry
employment shifts, and seasonality (M).-Source
3
(49,87)

268. State and local government purchases of goods and
services as a percent of gross national product (Q).—
Source 1
(47,83)

346. Index of real average hourly compensation, all
employees, nonfarm business sector (Q).—Source
3
(49,88)

280. Compensation of employees (Q).-Source 1

282. Proprietors' income with inventory valuation and capital
consumption adjustments (Q).—Source 1
(45,82)

348. Negotiated wage and benefit decisions, all industriesfirst year average (mean) changes (Q).—Source
3
(50,88)

237. Personal consumption expenditures, services, in current
dollars (Q).-Source 1
(41,81)

283. Proprietors' income with inventory valuation and capital
consumption adjustments as a percent of national
income (Q).-Source 1
(47,83)

349. Negotiated wage and benefit decisions, all industriesaverage (mean) changes over life of contract ( Q ) . Source 3
(50,88)

238. Personal consumption expenditures, nondurable goods,
in 1972 dollars (Q).-Source 1
(41,81)

284. Rental income of persons with capital consumption
adjustment (Q).-Source 1
(45,82)

358. Index of output per hour, all persons, nonfarm business
sector (Q).-Source 3
(49,88)

239. Personal consumption expenditures, services, in 1972
dollars (Q).-Source 1
(41,81)

285. Rental income of persons with capital consumption
adjustment as a percent of national income (Q).—
Source 1
(47,83)

370. Index of output per hour, all persons, private business
sector (Q).-Source 3
(49,88)

230. Personal consumption expenditures, total, in current
dollars (Q).-Source 1
(41,80)
231. Personal consumption expenditures, total, in 1972 dollars (Q).-Source 1
(41,80)
232. Personal consumption expenditures, durable goods, in
current dollars (Q).-Source 1
(41,80)
233. Personal consumption expenditures, durable goods, in
1972 dollars (Q).-Source 1
(41,80)
235. Personal consumption expenditures, total, as a percent
of gross national product (Q).-Source 1
(47,83)
236. Personal consumption expenditures, nondurable goods,
in current dollars (Q).-Source 1
(41,81)

240. Gross private domestic investment, total, in current dollars (Q).-Source 1
(42,81)
241. Gross private domestic investment, total, in 1972 dollars (Q).-Source 1
(42,81)
242. Gross private domestic fixed investment, total, in
current dollars (Q).-Source 1
(42,81)
243. Gross private domestic fixed investment, total, in 1972
dollars (Q).-Source 1
(42,81)
245. Gross private domestic investment, change in business
inventories, all industries, in current dollars (Q).Source 1
(42,81)

116




(45,82)

286. Corporate profits with inventory valuation and capital
consumption adjustments (Q).—Source 1
(47,82)
287. Corporate profits with inventory valuation and capital
consumption adjustments as a percent of national
income (Q).-Source 1
(47,83)

345. Index of average hourly compensation, all employees,
nonfarm business sector (Q).—Source 3
(49,87)

Il-C. Labor Force, Employment, and
Unemployment
37. Number of persons unemployed, labor force survey
(M).-Sources 2 and 3
(18,51,62,89)

(45,82)

441. Total civilian labor force, labor force survey (M).—
Sources 2 and 3
(51,89)

289. Net interest as a percent of national income (Q).—
Source 1
(47,83)

442. Total civilian employment, labor force survey (M).—
Sources 2 and 3
(51,89)

290. Gross saving—private saving plus government surplus or
deficit (Q).-Source 1
(46,82)

444. Number unemployed, males 20 years and over, labor
force survey (M).-Sources 2 and 3
(51,89)

288. Net interest (Q).-Source 1

GOVERNMENT PRINTING OFFICE:

1983-420-993:208

TITLES AND SOURCES OF SERIES- Continued
445.

446.

Number unemployed, females 20 years and over, labor
force survey (M).-Sources 2 and 3
(51,89)

565.

Number unemployed, both sexes 16-19 years of age,

570.

labor force survey (M).-Sources 2 and 3

(51,89)

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

3

577.

578.

451. Civilian labor force participation rate, males 20 years
and over (M).-Sources 2 and 3
452.

(51,89)

Civilian labor force participation rate, females 20 years
and over (M).-Sources 2 and 3

Employment in defense products industries (M).—
Source 3; seasonal adjustment by Bureau of Economic
Analysis
(55,91)

580.

Federal Government surplus or deficit; national income
(52,90)

duct accounts (Q).-Source 1

602.

Federal Government expenditures; national income and

606.

State

and

local government

expenditures; national

income and product accounts (Q).—Source 1 (52,90)

Department

of

Defense,

OSD,

adjustment by Bureau of Economic Analysis

performed

in

the

United

States

Headquarters Services; seasonal adjustment by Bureau

543.

Defense

Department

616.

unpaid

obligations

outstanding (EOM).-U.S. Department of Defense, OSD,
Comptroller,

Directorate for

Program and Financial

548.

557.

Bureau

of

(58,94)

727.

Italy, index of industrial production

adjustment

by

Bureau

of

728.

Japan, index of industrial production (M).—Ministry of

(58,94)

International Trade and Industry (Tokyo)

(56,92)

General imports, total (M).-Source 2

(56,92)

United Kingdom, index of consumer prices ( M ) . —
Department of Employment (London); percent changes
seasonally adjusted by Bureau of Economic Analysis

733.

Canada, index of consumer

(59,95)
prices

Imports of automobiles and parts (M).—Source 2;
adjustment

by

Bureau

of

by Bureau of Economic Analysis
735.

West

Germany,

index

of

(59,96)

consumer

618.

620.

Merchandise

(57,93)

imports,

adjusted,

excluding

622.

Balance on merchandise trade (Q).-Source 1 (57,93)

651.

Income

on

U.S.

investments

abroad

consumer

prices

(57,93)

Exports of goods and services, excluding transfers under

(57,93)

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).—Central
Statistical Office (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)

747.

Italy, index of stock prices (M).—Banca d' Italia
(Rome)
(59,96)

748.

Japan, index of stock prices (M).—Bank of Japan

(57,93)

Imports of goods and services, total (Q).—Source
1
(57,93)

(59,95)

(59,96)

561. Value of manufacturers' unfilled orders, defense pro-




(M).—Institut

Italy, index of consumer prices (M).—Istituto Centrale di
Statistica (Rome); percent changes seasonally adjusted by
Bureau of Economic Analysis
(59,96)

(Q).—Source

668.

U.S. military grants (Q).-Source 1

of

of Economic Analysis

Income on foreign investments in the United States
(Q).-Source 1

index

737.

military
(57,93)

1

France,

National de la Statistique et des Etudes Economiques

Merchandise exports, adjusted, excluding military grants

(Q).-Source 1

669.

(59,95)
736.

(Paris); percent changes seasonally adjusted by Bureau

(Q)-Source 1

(54,91)

(55,91)

(M).—

(56,92)

Output of defense and space equipment (M).— Source

national defense (Q).-Source 1

prices

Economic

Balance on goods and services (Q).—Source 1(57,93)

564. Federal Government purchases of goods and services for

(M).—Statistics

Canada (Ottawa); percent changes seasonally adjusted

(56,92)

667.

(54,91)

(58,94)

732.

Economic

Value of manufacturers' new orders, defense products
( M ) . - Source 2
(53,90)

ducts (EOM).-Source 2

(M).—Istituto

(56,92)

652.

Value of manufacturers' inventories, defense products
(EOM)-Source 2
(54,91)

National de la Statistique et des Etudes Economiques
(Paris)

Economic

(53,90)

4
559.

by

Analysis

Control; seasonal adjustment by Bureau of Economic
Analysis

adjustment

Analysis

seasonal

(53,90)
gross

France, index of industrial production (M).—Institut

seasonally adjusted by Bureau of Economic Analysis

Department of Defense, OSD, Comptroller, Washington
of Economic Analysis

726.

Source 2; seasonal adjustment by Bureau of Economic

(53,90)

(M).—U.S.

West Germany, index of industrial production (M).—
Statistisches Bundesamt (Wiesbaden)
(58,94)

(56,92)

Analysis

Defense Department military prime contract awards for
work

725.

Statistisches Bundesamt (Wiesbaden); percent changes

Comptroller,

Directorate for Program and Financial Control; seasonal

(58,94)

614. Imports of petroleum and petroleum products (M).—

Defense Department gross obligations incurred (M).—
U.S.

525.

612.

(58,94)

Canada, index of industrial production (M).—Statistics

Centrale di Statistica (Rome)

Exports of nonelectrical machinery (M).—Source 2;
seasonal

(52,90)

United Kingdom, index of industrial production (M).—

Canada (Ottawa)

(54,91)

Analysis

511. State and local government receipts; national income
and product accounts (Q).-Source 1

723.

Exports, excluding military aid shipments, total ( M ) . -

seasonal

(48,59,84,95)

Organization for Economic Cooperation and
Development, European countries, index of industrial
production (M).—Organization for Economic Cooperation and Development (Paris)
(58,94)

Central Statistical Office (London)

604. Exports of domestic agricultural products (M).-Source 2;

State and local government surplus or deficit; national
income and product accounts (Q).—Source 1 (52,90)

722.

Value of manufacturers' shipments, defense products

Source 2

(52,90)

(14,20,39,58,63,78,94)

United States, index of consumer prices, all items
(M)-Source 3

721.

11-E. U.S. International Transactions

(52,90)

product accounts (Q).-Source 1

517.

and

(54,91)

(M).-Source 2

501. Federal Government receipts; national income and pro-

512.

Program

Economic Analysis

and product accounts (Q).-Source 1

510.

for

years of age (M).-Sources 2 and 3

Il-D. Government Activities

502.

Directorate

Financial Control; seasonal adjustment by Bureau of

588.

500.

Comptroller,

Civilian labor force participation rate, both sexes 16-19
(51,89)

320.

Defense Department net outlays, military functions and
OSD,

453.

index of industrial production, total

(M).-Source 4

(55,91)

Defense Department personnel, civilian, direct hire
employment (EOM).-U.S. Department of Defense, OSD,
Comptroller, Washington Headquarters Services(55,91)

military assistance (M).—U.S. Department of Defense,

(51,89)

47. United States,

Defense Department personnel, military, active duty
(EOM).-U.S. Department of Defense, OSD, Comptroller,
Washington Headquarters Services

2 and

(51,89)

National defense purchases as a percent of gross
national product (Q).-Source 1
(55,91)

Il-F. International Comparisons
19. United States, index of stock prices, 500 common stocks
(M).-Standard & Poor's Corporation (13,28,59,69,96)

(Tokyo)

'

(59,96)

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