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U.S. DEPARTMENT OF COMMERCE
Malcolm Baldrige, Secretary
Sidney L. Jones, Under Secretary for Economic Affairs

BUREAU OF ECONOMIC ANALYSIS
George Jaszi, D i r e c t o r
Allan H. Young, D e p u t y D i r e c t o r
Edward K. Smith, A s s o c i a t e D i r e c t o r

for

National Analysis a n d Projections
Feliks Tamm, E d i t o r

T h i s r e p o r t is p r e p a r e d in t h e S t a t i s t i c a l I n d i c a t o r s Division o f t h e B u r e a u of E c o n o m i c
Analysis. T e c h n i c a l s t a f f a n d t h e i r r e s p o n s i b i l i t i e s f o r t h e p u b l i c a t i o n a r e B a r r y A, B e c k m a n — T e c h n i c a l s u p e r v i s i o n a n d r e v i e w

Brian D. Kajutti—Composite indexes

Betty F. T u n s t a l l — D a t a c o l l e c t i o n a n d c o m p i l a t i o n ( P h o n e : 2 0 2 - 5 2 3 - 0 5 4 1 )
T h e c o o p e r a t i o n of G o v e r n m e n t a n d p r i v a t e a g e n c i e s t h a t p r o v i d e d a t a is g r a t e f u l l y
a c k n o w l e d g e d . A g e n c i e s f u r n i s h i n g d a t a a r e i n d i c a t e d in t h e list o f s e r i e s t i t l e s a n d
s o u r c e s a t t h e b a c k of t h i s r e p o r t .
This publication is p r e p a r e d u n d e r t h e g e n e r a l g u i d a n c e of a t e c h n i c a l c o m m i t t e e consisting
of t h e f o l l o w i n g p e r s o n s :

Ronald E. Kutscher,

A c t i n g C h a i r m a n , B u r e a u of L a b o r S t a t i s t i c s , U.S. D e p a r t m e n t of

Labor

Ahmad Al-Samarrie, O f f i c e of M a n a g e m e n t a n d B u d g e t
Lincoln F. Anderson, Council of Economic Advisers
John H. Auten, U . S . D e p a r t m e n t of t h e T r e a s u r y
Edward K. Smith, B u r e a u of E c o n o m i c Analysis, U . S . D e p a r t m e n t of C o m m e r c e
Charles A. Waite, B u r e a u of t h e C e n s u s , U . S . D e p a r t m e n t of C o m m e r c e
Helmut F. Wendel, B o a r d o f G o v e r n o r s of t h e F e d e r a l R e s e r v e S y s t e m
ABOUT T H I S REPORT
BUSINESS CONDITIONS DIGEST (BCD) provides
a m o n t h l y look at m a n y of the economic t i m e
series found most useful by business analysts
and forecasters.
The original BCD, which began publication
in 1 9 6 1 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,
a n d lagging i n d i c a t o r s m a i n t a i n e d by t h e
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 f r o m the national inc o m e 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 d o m i n a n t feature of the current BCD is
t h e cyclical indicators section, in which each
business cycle indicator is assigned a three-way
t i m i n g 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 m e t h o d of
presentation is explained in the introductory text:
which begins on page 1.

Annual subscription price: $ 4 4 . 0 0 d o m e s t i c ,
$ 5 5 . 0 0 foreign. Single copy price: $ 4 . 0 0 domestic, $ 5 . 0 0 foreign. Foreign a i r m a i l r a t e s a r e
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 a r e economic t i m e series
which have been singled out as leaders, coinciders, or laggers based on their general conform i t y t o cyclical m o v e m e n t s in a g g r e g a t e
economic activity. In this report, cyclical indicators are classified both by economic process
and by their average t i m i n g a t 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, m e a s u r i n g , a n d interpreting short-term fluctuations in aggregate
economic activity.
Other Economic Measures provide additional inf o r m a t i o n for the evaluation of current business
conditions and prospects. They include selected
c o m p o n e n t s of the national income and product
a c c o u n t s ; m e a s u r e s of prices, wages, a n d
productivity; m e a s u r e s of t h e labor f o r c e ,
e m p l o y m e n t , and u n e m p l o y m e n t ; economic
data on Federal, State, and local g o v e r n m e n t activities; measures of U.S. international transactions: and selected economic comparisons with
m a j o r foreign countries.
concerning subscriptions to Superintendent of
Documents, U.S. G o v e r n m e n t Printing Office,
Washington, D.C. 2 0 4 0 2 . Make checks payable
to Superintendent of Documents.

BUSINESS CONDITIONS DIGEST

New Features and Changes for This Issue

licit

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
S u m m a r y of Recent Data and Current Changes

1
1
1
1
4
5
5
6

NOVEMBER 1984
Data Through October
Volume 24, Number 11

PART I.
CYCLICAL INDICATORS
wm

COMPOSITE INDEXES AND
THEIR COMPONENTS

A1
A2
A3
A4

E l

Chart

Table

10
12
14
15

60
—
—
—

16
19
21
23
26
28
31

61
63
64
65
68
69
71

36

Composite Indexes
Leading Index Components
Coincident Index Components
Lagging Index Components

74
77

CYCLICAL INDICATORS
BY ECONOMIC PROCESS

B1
B2
B3
B4
B5
B6
B7

c
C2
C3

Employment and U n e m p l o y m e n t
Production and Income
Consumption, Trade, Orders, and Deliveries
Fixed Capital Investment
Inventories and Inventory Investment
Prices, Costs, and Profits
Money and Credit

I

DIFFUSION INDEXES
AND RATES O F C H A N G E
Diffusion Indexes
Selected Diffusion Index Components
Rates of Change

The Secretary of C o m m e r c e has determined
that t h e publication of this periodical is necessary in the transaction of t h e public business
required by law of this D e p a r t m e n t . Use of funds




,

39

—

for printing this periodical has been approved
by the Director of t h e Office of M a n a g e m e n t
and Budget through April 1, 1 9 8 5 .

BCII




PART II
OTHER IMPORTANT
ECONOMIC MEASURES
NATIONAL INCOME
AND PRODUCT

Chart
40
41
42
43
44
45
46
47

Table

48
49

84
87

51

89

52
53

90
90

56
57

92
93

58
59
59

94
95
96

A. MCD and Related Measures of Variability (See 1984 Handbook of Cyclical Indicators)
QCD and Related Measures of Variability (See 1984 Handbook of Cyclical Indicators)
B. Current Adjustment Factors
C. Historical Data for Selected Series

97
98

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

PRICES, WAGES,
AND PRODUCTIVITY

B
Bi
B2

Price Movements
Wages and Productivity

LABOR FORCE, EMPLOYMENT,
AND UNEMPLOYMENT

c
fCl

|

D
Dl
D2 j
E

Civilian Labor Force and Major Components

GOVERNMENT ACTIVITIES
Receipts and Expenditures
Defense Indicators

U.S. INTERNATIONAL TRANSACTIONS

Merchandise Trade
Goods and Services Movements
F
F1
! F2

INTERNATIONAL COMPARISONS

Industrial Production
Consumer Prices
Stock Prices

80
80
81

81

82
82

82
83

PART III. APPENDIXES

D. D e s c r i p t i o n s a n d S o u r c e s Of S e r i e s (See "Alphabetical Index—Series Finding Guide")

E. Business Cycle Expansions and Contractions (July 1984 issue)
F. Specific Peak and Trough Dates for Selected Indicators (August 1984 issue)
G. Experimental Data and Analyses
Alphabetical Index—Series Finding Guide
Titles and Sources of Series

105
110
114

Readers are invited to submit comments and
suggestions concerning this publication.
A d d r e s s t h e m t o Feliks T a m m , C h i e f , S t a t i s t i c a l
I n d i c a t o r s Division, B u r e a u of E c o n o m i c A n a l y s i s ,
U . S . D e p a r t m e n t of C o m m e r c e , W a s h i n g t o n , D C 2 0 2 3 0

m c \ a /

t c a t i

^ t W

'

1

i d c c

u

K E o

AND CHANGES

FOR THIS ISSUE

A limited

number

changes a r e made

of

from

time to time to incorporate

recent

ings of

economic

research,

find-

newly

avail-

able time series,
revisions

and

made

by

source agencies

in

concept,

composition,

comparability,

coverage,

seasonal

adjustment

methods,

benchmark

data, etc. Changes
result in revisions
data,

Changes in this issue are as follows:

additions

may
of

or

deletions
changes

1. Data for money supply series 85, 102, and 104-107
have been revised to reflect the source agency's incorporation of new information on the level and composition of deposits received in conjunction with annual shifts among
weekly, quarterly, and annual reporting panels of depository
institutions and with regular quarterly reports. The beginning dates for these revisions are as follows:
1980-Series 104;
1981--Series 85, 102, 106, and 107;
1982--Series 105.
Further information concerning these revisions may be
obtained from the Board of Governors of the Federal Reserve
System, Division of Research and Statistics, Banking Section.
2. Appendix C contains historical data for series 31,
56, 57, 63, 70, 71, 77, 110, 285-290, 292, 293, 295, 298,
525, 543, 557, 602, 604, 606, 612, 614, and 616.
3. Appendix G contains cyclical comparisons for series
32, 73, 74, 78, 86, and 89.
The December issue of BUSINESS CONDITIONS DIGEST is scheduled
for release on January 3.




iii

of

series,

in placement

series in relation
other series,
in composition
indexes,

etc.

to

changes
of

of

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.
S E A S O N A L 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-ll variant is used for
adjusting monthly data and the X-11Q for quarterly data. These programs make additive as well as
multiplicative adjustments and compute many summary and analytical measures.
I N D E X PROGRAM—This program computes composite and diffusion indexes and summary
measures of the properties of each index.
T I M E SERIES PROCESSOR—This program, through simple commands, performs a variety of
arithmetic, statistical, and manipulative operations on time series data.

SURVEY OF CURRENT BUSINESS
current economic developments.

A monthly report for analyzing

Features include a review of current economic developments; articles pertaining to BEA's work
on the national, regional, and international economic accounts and related topics; quarterly
national income and product accounts tables; and over 1,900 major economic series obtained
from other public and private sources.

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,
DC 20230.




BUSINESS STATISTICS A reference volume containing statistical
series reported currently in the Survey of Current Business.
This report provides historical data on statistical time series. The series are accompanied by
concise descriptions of their composition, methods of compilation, comparability, revisions, and
availability. Also listed are the names and addresses of organizations that provide the 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 1959, but those for the composite
indexes and their components (part I, section A)
begin with 1948, and a few charts use a two-panel
format which covers only the period since 1972.
Except for section F in part II, charts contain
shading which indicates periods of recession in
general business activity. The tables contain data
for only the last few years. The historical data for
the various time series are contained in the 1984
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
x v Economic
eProcess
Cyclical N.
Timing
Ny

L E A D I N G (L)
INDICATORS
(62 series)

ROUGHLY
COINCI DENT(C)
INDICATORS
(23 stirles)

L A G G I N G (L9)
INDICATORS
(18 series)

TIMING
UNCLASSIFIED

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.
P R I C E S , COSTS,
AND PROFITS
(17 series)

VII.
MONEY
AND CREDIT
(2i> 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
tind 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 monay
supply
(2 series)
Credit flows
(4 series)
Credit
difficulties
(2 series)
Bank reserves
(2 aeries)
1nterest rates
(1 series)

Comprehensive
employment
(1 series)

Comprehensive
output and
real Income
(4 series)
1 ndustrlal
production
(4 series)

Consumption
and trade
(4 series)

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

Duration of
unemployment
(2 series)

Business
Investment
expenditures
(1 series)

Comprehensive
employment
(3 series)

Trade
(1 series)

|8 series)

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

Business
investment
commitments
(1 series)

Unit labor costs
and labor snare
(4 series)

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

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

Inventories on
hand and on
order
(4 series)

Interest rates
(1 series)

B. Timing at Business Cycle Troughs
Economic
\Process
Cyclical
Timing

\

L E A D I N G (L)
INDICATORS
(47 series)

EMPLOYMENT
AND
UNEMPLOYMENT
<18 series)
Marginal
employment
adjustments
(3 series)

Marginal
employment
adjustments
ROUGHLY
(2 series)
COINCI D E N T ( C ) Comprehensive
INDICATORS
employment
(23 series)
(4 series)

L A G G I N G (Lg)
INDICATORS
(40 series)

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

TIMING
UNCLASSIFIED
<U)
(1 series)




II.
PRODUCTION
AND
INCOME
(10 series)

IV.
III.
CONSUMPTION, F I X E D
TRADE,
CAPITAL
ORDERS, AND
INVESTMENT
DELIVERIES
(18 series)
(13 series)

Industrial
production
( l 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)

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

Consumption
and trade
(3 series)

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

VII.
VI.
P R I C E S , COSTS, MONEY
AND PROFITS
AND CREDIT
(17 series)
(26 series)

Inventory
Investment
(4 series)

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

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

Profits
(2 series)

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

Unit labor costs
and labor share
(4 series)

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

Business
Investment
commitments
(1 series)

Unfilled orders
(1 series)

v.
INVENTORIES
AND
INVENTORY
INVESTMENT
(9 series)

Inventories on
hand and on
order
(S 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 1984
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 N6ERdesignated 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 1984
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.

3

Part II. OTHER IMPORTANT
MEASURES

ECONOMIC

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 BF.A, 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.
Digitized4 FRASER
for


Gross private domestic investment (A3) is fixed
capital goods purchased by private business and
nonprofit institutions and the value of the change
in the physical volume of inventories held by
private business. The former include all private
purchases of dwellings, whether purchased for
tenant or owner occupancy. Net purchases of used
goods are also included.
Government purchases of goods and services
(A4) is the compensation of government employees
and purchases from business and from abroad. It
excludes transfer payments, interest paid by
government, and subsidies. It includes gross
investment by government enterprises but excludes
their current outlays. It includes net purchases of
used goods and excludes sales and purchases of
land and financial assets.
Net exports of goods and services (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 1972.
The group of series on wages and productivity
consists of data on average hourly earnings and
average hourly compensation (including earnings
and other benefits) in current and constant dollars,
output per hour of work in the business sector, and
rates of change for most of these measures.

Section C. Labor Force, Employment, and
Unemployment
This section contains measures of the civilian
labor force and its major components: Total
numbers of employed and unemployed persons.
The number of unemployed is subdivided into
selected categories defined by sex, age, and class
of worker. Also included are data on participation
rates for a few principal segments of the labor
force.
Section 0. 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 1972) provide
important measures of the rates of inflation in the
major industrialized countries. Stock prices (also
shown beginning in 1972) tend to be significant as
leading indicators.

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

Basic Data

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

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

Dotted line indicates anticipated data.

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

Roman
number
indicates
latest quarter for which data
are plotted. ( " 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.

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

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

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

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

Trough (T) of cycle indicates
end of recession and beginning of expansion as designated by N B E R .

Rates of Change

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

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

Broken line indicates percent
changes over 1-month spans.

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

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

Roman
number
indicates
latest quarter used in computing the changes.

HOW TO LOCATE A SERIES
1. See A L P H A B E T I C A L I N D E X - S E R I E S F I N D I N G G U I D E 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 T I T L E S A N D S O U R C E S OF S E R I E S 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—Continued
Percent change

Basic data*
Series title and timing

1982

I.

CYCLICAL

910.
920.
930.
940.

INDICATORS
A. C o m p o s i t e

s

IstQ
1984

1983

3dQ
19(4

2dQ
1984

Sept.
1984

Aug.
1984

Oct.
1914

IstQ
to
2d Q
1184

Sept.
to
Oct,
1984

Aug.
to
Sept
1984

Annual average

of

classification 1

2d Q
to
3d Q
1984

1
2
4
- 1

- 2 . 1
1.2
3.3
- 2 . 1

E
1

Indexes
1 3 6
136
123
1 1 0

„ L,L,L...

do

L.L.L..

leading Indicator Subgroups:
9 1 3 . Marginal employment adjustments

do
do
do
do
do

. 8
.3
.0
. 9

1 0 4
97
93
1 2 2

1967 = 100
do
do

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

NA
. 3
.2
.7
. 8

1 3 9 . 9
111.7
125 .4

166
150
111
135

.3
.4
.3
.1

1
1
1
1

NA
. 8
. 8
.7
.7

1 1 1
1 0 6
1 0 9
135

NA
. 1
. 9
. 0
.2

NA
111.0
1 0 7 . 3
1 1 0 . 4

1 5 6 . 0

1 0 8
1 0 2
104
130

.3
.8
. 9
. 9

1 6 4
155
1 2 0
1 2 9

. 0
.8
. 0
. 8

1 6 5
155
1 2 0
1 2 8

1 3 8 . 2

NA
1 0 9 . 9
1 0 4 . 0
NA
1 3 7 . 3

1 1 0
103
111
136

NA
. 0
.5
.5
.5

1 1 0 . 2
103 .7
NA
137.6

4 0 . 8
3 . 4
353

4 0 . 5
3.3
364

40.5
3 . 3
358

4 0 . 6
3 . 3

0 . 4 4 9
128

0 . 4 6 1
132

0.447
128

0 . 4 5 4
129

6
5
1
3

7
4
6
2

.
.
.
.

9
0
1
7

164
155
1 1 9
1 2 9

. 0
.8
. 9
. 9

1 6 3
156
121
128

. 8
.6
.7
.7

0

6

0
0
- 0

8

NA

NA
1 0 9 . 8
103 .2

NA
0 .2
0 .2

NA
NA

0 .8

7

NA

- 0 .
0.
0.
- 0 .

7
5
7
2

NA
- 0 . 4
- 0 . 5
NA

NA

.0
.4
. 3
. 8

nA
- 0 . 1
0 . 4
1.3
2 . 2

NA
- 1 . 0
- 3 . 1
NA
- 0 . 7

910
920
930
940

913
914
915
916
917

B. Cyclical Indicators by E c o n o m i c P r o c e s s
61. Employment and Unemployment
Marginal Employment Adjustments:
* 1 . Average workweek, prod, workers, mfg
2 1 . Avg. weekly overtime, prod, workers, mfg.'
• 5 . Avg. weekly initial claims (inverted*)
Job Vacancies:
60. Ratio, help-wanted advertising to unemployment 1
46. Help-wanted advertising

Production and

il,C,C...
U.C.C...
C.C.C..
L,C,U...
U.Lg.U...

A.r., bil. hrs

1 6 6 . 0 2
96 . 1 2

do
Thousands

8 9 . 5 7
2 3 , 8 1 3

C.C.C...
C.C.C..
C.C.C..

Capacity Utilization:
8 3 . Capacity utilization rate, mfg., BEA'
82. Capacity utilization rate, mlg„ FSB'
8 4 . Capacity utilization rate, materiaSs. FRB'
Consumption, Trade, Orders, and
and Deliveries:
New orders, durable goods
New orders, durable goods, 1 9 7 2 dollars
New orders, cons, goods and mtls., 1972 dol
Change in unfilled orders, durable goods'
Mfrs.' unfilled orders, durable goods'
Vendor performance 1 ©

Consumption and Trade:
5 6 . Manufacturing and trade sales
• 5 7 . Manufacturing and trade sales, 1 9 7 2 dollars
7 5 . Industrial production, consumer goods
54. Sales o l retail stores
59. Sales of retail stores. 1 9 7 2 dollars
55. Personal consumption expenditures, automobiles
58. Index o l consumer sentiment ©

1 7 4 .
1 0 0 .
92.
2 4 , 5

4
4
7
1

8
2
6
8

9 3 . 7 9
24,862

1 7 7 . 7 4
1 0 1 . 9 0
94.54
25 , 0 5 4

176
101

.73
.75

1 7 7 .
101
94.
25,0

4 9
.74
52
98

178.
1 0 1 .
94.
25,0

6
9
7
0

7
2
5
5

.15

5 8 . 3 2

5 8 . 9 6

5 8 , 8 3

5 8 . 7 0

10,717
9.6
3 . 8
20 .0
3 . 8

8,866
7 . 9
2 . 9
1 9 . 4
2.7

8,49
7.
2.
18.
2 .

8,51
7.
2 .
17.
2.

8,526
7.5
2.6
17.3
2.3

8,460
7 . 4
2.7

57

6
5
7
5
4

0
5
7
5
3

0 . 4 8 0
136

178.
102.
95
2 5 , 0

36
47
.20
7 1

58.9.3

1
4
7
5
2

- 0 . 2
- 1 0 . 1

0 . 0 0 7
0 .8

0 . 0 2 6
5 . 4

0
0
0
- 0

.7
.2
.2
.4

0. 0 9

0.

- 0 . 2
0.5
0.5
0 . 3
0 . 1 4

0.8
0. 1
-0 . 1

0.
- 0 . 1
- 0 . 3

0.026
2 . 4

1
1.
1.
1.

.3
3
1
4

21

0 . 0 1 2
3.1

60
46

5

0 . 6
0 . 1

48
42

0 . 8
0 . 8

41
40

- 0 . 1 3

90

2
4
2
6
3

- 0 . 2

37

0 . 6 4

1 .2
0

3.5
0 . 1

0 .5
.6

0 . 4
0.3

1.7
1.6
1 . 9

0.5
1.0
1.2

50
52

.6

- 0 .4

- 0 . 2

1.1

0 . 2

53

1 6 5 . 2
1 5 7 . 2

165 . 2
157 .3

47
73

181

2
2
1
3

1.6
2.5

1 8 0 . 8

- 0 .5
- 0 .6
- 0 .5

0 . 7
0.

74
49

0 . 8
0 . 2

83
82
84

0 . 3

0.
0.

.
.
.
.
.

1

- 0 . 7
- 0 . 1
- 3 . 1

4
0
0
4
0

17.1
2.3

8 , 4 3
7 .
2 .
16.
2.

0 .2
0
- 2 .8

0.
0.

5 . 4
0 . 1

43
45
91
44

1254.5
1 0 7 2 . 0

1534.7
1284.6
1 0 9 5 . 0

1 6 1 0 . 9
1339.5
1 1 5 0 . 8

2 1 5 . 9

213.5

222.6

225

.0

225

.5

225

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

1
1
1
6

147
134
1 6 8
6 8 8

1
1
1
7

1 6 3
153
1 8 0
767

. 1
.6
. 1
.4

165
157

.7
.5

181
767

.4
.5

1 6 6 . 1
1 5 8 . 1
1 8 1 .7

..

3
2
5
6

8
4
6
0

.
.
.
.

6
7
2
6

70
7 1 . 1
70.0

do
do

.6
.5
. 1
. 6

74
7 5 . 2
7 5 . 2

5 9
50
76
44

. 8
.2
.7
.9

80.7
81.6

1 6 3 8 . 8
1 3 6 1 . 6
1 1 7 2 . 2

8 1 . 8
82.7

1646.5
1375 .3
1 1 8 6 . 3

1379.5
1191 .1

1 3 7 3 . 0
1183.7
.8

225

....
..

82.6
82.9

.0

13 8 4 . 9
1 1 9 5 . 0
224

...

.4

0

0.
0 . 1
0.3

...

...

...
•

.
.
.
.

1
3
9
0

1.1
1 .1

51

Deliveries

1,1,1..
L.L.L..
L,L,I
L.L.L..
L.Lg.U..
L.L.L..

C.C.C..
C.C.C..
C.L.C..
C.L.U..
U.L.U..
L,C,C„
L.L.l,.

Bit. dol

75

.00

87

.85

do
do
do
Bil. dpi., EOP ... 2
Percent

3 2 .
2 9 .
- 1 .
8 7 .

4 7
4 4
8 1
0 1
37

3 7 .
34.
2 .
3 1 9 .

0 1
12
6 9
3 0
54

Bil. dol
do
1967 = 1 0 0
Bil. dol
do
A.r., bil. dol
IQ 1966=100

3 4 3
1 5 2
1 4
89
44
7
6

. 3 4
. 4 9
2 . 6
.55
.67
3.6
8 . 0

1967 = 1 0 0
Number

1 1 3 . 2
4 7 , 1 5 3

102
42
38
6
337

.32
.48
.15
,13
.,70
68

9 9 . 9 2
41 .13
37 .45
2.35
3 4 4 . 7 6
69

1 0 0
41
3 7
1
3 4 8

. 8 0
.41
. 4 8
.34
. 7 8
57

1 0 2 . 0 2
41 .86
37 . 90
0 . 9 8
349.05
54

9 8 . 6 8
4 0 . 5 4
3 6 . 6 8
- 0 . 2 7
3 4 8 . 7 8
58

94.65
3B.97
36 . 3 4
- 4 . 6 8
3 4 4 . 1 0
52

411 .18
176.76
1 6 2 .5
1 0 6 . 6 0
5 1 . 1 3

4 0 8 . 9 3

NA
NA
1 6 1 . 9
1 0 7 . 7 2
51 .34

367.06
1 6 1 . 7 0
151.7
97.83
4 7 . 7 5
88.3
87.5

400.152
172.67
1 5 9 . 7
105 .32
5 0 . 6 8
1 0 1 . 9
99 .5

4 1 0 . 9
176.6
1 6 2 .
108.3
5 2 . 2
104.
96.

1
5
0
5
1
6
6

410 .50
176 .20
1 6 2 . 6
1 0 7 . 3 0
51 .46
102 .1
98.9

99.1

1 1 4 . 8
5 0 , 1 6 2

117 .5
53 , 3 5 3

1 1 7 . 0
53 , 2 7 6

1 1 7 . 8
NA

1 1 8 . 2

- 1

3 .3
3 .2
3 .2
. 25
.1
4

-0

- 4
-

3 . 9
0 . 9
. 4 1
1 . 3
-6

0. 9

NA
NA
0.2
- 0 . 1
- 0 . 5

.9

96.3

1 .8

- 4 . 6

1 1 9 . 6
NA

1 1 9 . 9
NA

1 .2

NA

...

175
16
107
51

.32
1.6
.87
.61

100

..•

- 0 .5
- 0 .8
- 0 .6
1 .2

- 4 . 1

,

- 1 . 8
- 3 . 7 8
2.1
1

0 . 9
0.7
0 . 1
-1 .01
1 .2
- 1 2

6
7
8
25
96
32

2.
2.
1
2 .
3 .
2.
- 2 .

- 0 .
- 0 .
0 .
- 1 .
-1
- 2 .
2.

1
3
4
0
.4
4
4

56
57
75
54
59
55
:>8

0 . 7
NA

12
1.1

- 2 . 3
- 3 . 2

6
3
.4
9
0
6
9

Investment

Formation ol Business Enterprises:
• 1 2 . Net business formation
13. New business incorporations.
Business Investment Commitments:
10. Contracts and orders, plant and equipment
• 2 0 . Contracts and orders, plant and equipment,
1 9 7 2 dollars
24. New orders, capital goods indsis., nondefense
2 7 . New orders, capital goods industries,
nondefense, 1 9 7 2 dollars

6

1 4 8 0 . 0

do

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

Fixed Capital

15.6
3 . 2

A,r„ bil. dol
do
do

C.C.C..

C,C,C.„
C.C.C..
C.L.L..,
C.C.C..

B4.

.05

1 0 , 6 7 8
9.7
4 . 6

L.Lg.U... Thousands
L.Lg.U...
do
L,Lg,U....
Lg.Lg.Lg. .. Weeks
Lg,Lg,Lg—. Percent

Industrial Production:
• 4 7 . Industrial production, total
73. Industrial production, durable mfrs
74, Industrial production,.nondurable mfrs
49. Value ol goods output. 1 9 7 2 dollars

Orders
6.
7.
*8.
25.
96.
•32.

57

Percent

168.15
97 . 4 5
90.14
2 3 , 3 94

125

40.5
3.3
405

Income

Comprehensive Output and Income*
50. GNP in 1972 dollars
5 2 . Personal income in 1 9 7 2 dollars
' 5 1 . Pers. income less transfer pay., 1972 dollars
53. Wages and salaries in mining, mfg., and
construction, 1972 dollars

B3.

0 . 4 2 1

368

o.

B2.

0 . 2 7 1
96

86

..

3.5
352

CO

Comprehensive Unemployment:
3 7 . Total unemployed (inverted")
43. Unemployment rate, total (inverted 4 )'
45. Avg. weekly insured unemptoyment rate (inv. 1 )'
' 9 1 . Avg. duration of unemployment (inverted 1 )
4 4 . Unemployment rate, 15 weeks and over (inv.') 1

4 0 . 8

<n

Comprehensive Employment:
4 8 . Employes-hours in nonagri. establishments
4 2 . Persons engaged in nonagri. activities
' 4 1 , Employees on nonagri. payrolls
4 0 , Employees in mining, mfg., construction
9 0 . Ratio, civilian employment to total population
of working age'

1967-100

4 0 . 1
3 . 0
426

do
Thousands

L.Lg.U...
L.Lg.U...

3 8 . 9
2.3
578

0 . 2 4 3

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




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

NA

0 . 3
NA

- 0 . 4
- 0 . 1

2 4 . 7 9

26

.76

3 0 . 1 2

31

.94

31

.91

31

.14

31

.92

2 9 . 7 9

2 .5

- 6 . 7

6 . 0

-0 .1

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

......do
do

1 2 . 3 1

13
22

.43
.73

15
26

15
27

.89
.62

15
27

.54
.33

15
26

.45
.50

15
27

.77
.84

14.63
24 .7 8

2 .1
5 .1

- 7 . 2
- 1 1 .0

4 . 3

-2.2

4 . 9

- 1

L.L.L..

do

10.52

11

.72

1 3 . 6 5

13

.65

1 3 . 5 3

12

4 .1

- 1 0 . 8

3 . 4

- 3 . 3

L.L.i—

Bil. dol

20

.63

.23
.32

1 4 . 1 1

1 4 . 0 8

.56

.0

10
20
84
27

Table 1.

Summary of Recent Data and Current Changes for Principal Indicators—Continued
Basic d a t a '

Percent change

Unit
Series title and timing classification'

of

Annual average

measure
1982

I.

1983 '

3d Q
1984

2d Q
1984

1984

Aug.
1984

Sept
1984

Sept.
to
Oct.
1984

Aug.
to
Sept
1984

Oct.
1984

2d<
to

1st Q
to
2d Q
1984

3d Q
1984

CYCLICAL INDICATORS—Con.
B4. Fixed Capital I n v e s t m e n t — C o n .

Business Investment C o m m i t m e n t s — C o n . :
9 . Construction contracts, c o m m e r c i a l and
industrial buildings, floor space

Mil. s q . f t

5 7 . 3 8

Bil. dol

21

Bil. dol., EOP ...

7 0 . 7 6

. 2 8

6 3 . 8 6

71

7 9 . 4 9

7 9 . 7 0

2 2 . 0 0

2 6 . 8 2
7 8 . 6 5

3 7 . 1 5
9 2 . 5 2

. 2 8

.. .

2 8 . 7 2

7 3 . 5 0

96

8 4 . 2 6

75

. 1 2

7 8 . 0 8

- 1 0 . 8

11 .5

0 .3

3 8 .5
17 .6

- 2 2 .7

3 .3

4 .5

3 . 9

.31

4 .1

Business Investment Expenditures:
6 1 . Business expend., new plant and equipment

C.Lg.Lg...

A . r „ bil. dol

282

. 7 1

26

9 . 2 2

2 9 3 . 1 5

3 0 2 . 7 0

3 1 6 . 2 2

3 2 0 . 5 7

3 5 0 . 4 8

3 7 3 . 3 0

383

6 9 . Machinery and equipment sales and business
construction expenditures

C.l&Lg...

7 6 . Industrial production, business e q u i p m e n t

C,Lg,U...

8 6 . Nonresid. fixed investment, total, 1 9 7 2 dollars

C,Lg.C...

do

3 2 5 . 6 9

.47

1967 = 100
A.r., bil. dol

1 5 7 . 9

1 5 3 . 3

1 7 1 . 6

1 7 7 . 0

1 8 7 . 1

1 6 6 . 9

1 7 1 . 0

1 9 3 . 3

202

1

1

. 2 0

401

.07

NA

6 . 3

188.0

6 .5

2 1 0 . 5

A.r., thousands..

377

.9

1 8 7 . 8

0 . 1

0 . 3

2 .7

3 .1

5 .7

5 .0

3 .7

- 9 . 8

- 3 .7

- 1 2 .3

- 1

Residential Construction C o m m i t m e n t s and Investment:
, 7 0 3

1 , 9 6 8

1 , 8 9 5

1

1967=100

8 0 . 7

1 2 9 . 4

1 4 6 . 1

141

1 2 1 . 4

- 2 .9

- 1 4 . 4

L,L,L...

A.r., bil. dol

3 7 . 9

5 3 . 7

6 0 . 6

6 0 . 8

6 0 . 1

0 .3

- 1 .2

do

- 1 0 . 4

- 3 . 6

31

2 0 . 3

3 0 . 0

- 1 1 .3

do

- 1 6 . 0 0

L,L,L...

8 9 . Fixed investment, residential, 1 9 7 2 dollars
B5.

, 0 6 2

L,L,L...

2 8 . N e w private housing units started, total
* 2 9 . N e w building permits, private housing

Inventories and Inventory

.9

, 6 6 2

1

, 5 5 4

121 .6

1

, 6 7 9

1 1 6 . 3

1 , 5 1 5

8 . 0

1 1 4 . 5

- 4 . 4

.5

Investment

Inventory Investment:
3 0 . Change in business inventories, 1 9 7 2 dollars 1

.6

9 .7

* 3 6 . Change in inventories on hand and on order,
1 9 7 2 dollars ( s m o o t h e d ' ) '
3 1 . Change in mfg. and trade inventories'

do

. 9 1

- 1 8 . 1

2 5 . 4 2

3 2 . 2 6

7 3 . 7

5 6 . 3

5 1 . 8

2 . 6 6

1

0 . 7 8

8 . 8

- 2 . 1 3

Bil. dol

3 8 . Change in materials on hand and on o r d e r '

1
1

. 4 6

16

. 2 8

.51

1 4 . 2 6

61.8
- 0 . 5 1

16

NA
NA
NA

. 5 1

3 9 . 3
0 . 4 6

MA
NA
NA

2 . 2 5
- 2 2 . 5
0 . 9 7

6. 84
- 1 7

- 1 5

.75

.4

- 4 .5

.3 8

- 1

- 0 . 50

Inventories on Hand and on Order:
7 1 . Mfg. and trade inventories, book v a l u e 1
7 0 . Mfg. and trade inventories, 1 9 7 2 dollars',.
6 5 . Mfrs.' inventories of finished goods'
• 7 7 . Ratio, constant-dollar inventories to sales, mfg.
and t r a d e '

LBtLe.Lg...

Bil. dol., E O P . . . 5 0 5 . 5 5
2 5 9 . 4 0
do
do

85

.02

5 1 4 . 3 4

5 3 2 . 7 7

5 4 6 . 8 3

55

25

2 6 5 . 1 2

2 7 0 . 0 3

275

8 2 . 8 7

8 6 . 5 4

1 . 5 9

1 . 5 2

1 . 5 2

2 0 8 . 5 9

2 1 6 . 5 9

2 2 0 . 4 4

2 2 2 . 7 9

222

0 . 3 2

- 0 . 5 6

- 0 . 9 1

- 1

2 8 8 . 1

276

1 . 7 4

Lg,Lg,Lg.... Ratio

9 . 0 2

BO.

87

9 . 7 9
.92

8 9 . 1 7
1

.55

556

.52

2 7 4 . 3 2
8 8 . 5 2
1 . 5 5

5 5 9 . 7 9
275

NA
NA
NA

0 . 6

.92

0 . 6

8 9 . 1 7

0 . 7

1 . 5 7

0 . 0 2

NA

2 2 2 . 7 9

0 . 2

2 .6

MA

2 .4

1 .9
4 .4

2 .2
3 .0

0.

0 . 03

7 8 . Stocks of materials and supplies on hand a n d on
order, mfg.'
B6.

. l , L g , L j . . . . Bil. dol., E O P . . .
Prices, Costs, and

191

. 1 2

.33

1 . 8

1 .1

Profits

Sensitive C o m m o d i t y Prices:
9 8 . Change in producer prices, sensitive m a t e r i a l s '

L.L.L.... Percent

2 3 . S p o t m a r k e t prices, raw industrials ©

U.L.L.... 1 9 6 7 = 1 0 0

* 9 9 . Change in sensitive materials prices (smoothed 6 )'

L.L.L.

- 0 . 3 8
242

.5

1

.23

2 5 8 . 5

285

.5

- 0 . 6 7

Percent

1 . 0 3

0 . 5 2

1 1 9 . 7 1

1 6 0 . 4 1

1 6 0 . 3 6

0 . 1 8

.6

- 0 . 92

275

.40
.6

- 1

.05

164

0.88

- 0 . 8 4

2 7 4 . 0

266

-1 .06

-0.81

. 4

2 . 2 8

- 1

. 7 2

0 . 2 5

- 0 . 8

- 0 .

- 2 . 8

1 . 0

.42

- 0 . 6
- 0 . 0 1

88

- 0 . 35

0 .9
- 0

.34

- 4 .0
- 1

.10

Stock Prices:
* 1 9 . Stock prices, 5 0 0 c o m m o n stocks (

. L.L.I—

1941-43=10...

155

.76

1 6 0 . 5 4

- 2 .9

3 .1

- 0 .3
- 1 .0

- 7 .3

Profits a n d Profit Margins:
1 0 4 . 8

1 2 7 . 4

1 5 0 . 6

do

5 0 . 6

6 0 . 5

7 1 . 0

L,C,L...

do

9 8 . 4

1 4 9 . 4

1 8 4 . 7

L.C.L....

do

47

1 6 . Corporate profits a f t e r taxes

L.L.L.

1 8 . Corporate profits after taxes, 1 9 7 2 dollars

A r . bil. dol

L.L.L.

7 9 . Corp. profits a f t e r taxes w i t h IVA and CCAdj
80

1 9 7 2 dollars

do

.6

7 1 . 2

87

1 5 0 . 2

1 3 9 . 3

7 0 . 3
195 .2

197

.1

5 .7

- 8 .3
1 .0

92

.3

5 .3

0 .2

.5

92

6 4 . 5

.1

MA

3

.4

4 . 0

4 . 9

4 . 9

1977-100

96

.2

9 8 . 0

9 8 . 7

9 9 . 8

L,L,L.... A . r „ bil. dol
do

1 5 . Profits ( a f t e r t a x e s ) per dollar of sales, m f g . 1

260

.4

3 1 8 . 9

3 6 0 . 4

3 6 6 . 7

364

121

.9

1 4 9 . 3

1 6 7 . 5

1 6 9 . 3

1 6 7 . 1

157

L.L.L..

2 6 . Ratio, price to unit labor cost, n o n f a r m business

L.L.L..

Cash Flows:
3 4 . N e t cash flow, corporate
3 5 . N e t cash flow, corporate, 1 9 7 2 dollars

Cents

L.L.L.

NA

0

9 9 . 7

1 .1

1 .7

- 0 .6

1 .1

- 1 .3

- 0 .8

0 .7

- 0 .1

.4

- 0 .1

1 .3

Unit Labor Costs and Labor Share:
Lg,Lg,Lg.... 1 9 7 7 = 1 0 0

1 5 3 . 6

1 5 6 . 0

1 5 7 . 7

156

Lg,Lg,Lg.... Dollars

1

1

1

1

Lg,Lg,Lg.... 1 9 6 7 - 1 0 0

6 3 . Unit labor cost, private business sector

226

Lg.Lg.Lg.... Percent

.5

.6

6 8 . Labor cost per unit of real gross domestic
product, nonfin. corporations

. 3 9 7

. 4 0 9

. 4 1 5

. 4 1 4

1

...

. 4 3 2

6 2 . Labor cost per unit of output, m a n u f a c t u r i n g
a ) Actual data
* b ) Actual d a t a as percent of trend

.8

2 1 9 . 6

2 1 8 . 5

1 0 2 . 0

9 1 . 9

8 7 . 3

85

7 6 . 2

7 5 . 0

7 3 . 5

7 3 . 3

7 3 . 5

2 1 8 . 0

216

.6

.3

8 3 . 4

216

.3

83

.4

217

.0

8 3 . 1

217

.3

0 . 3

0 . 1

- 0 .2

82.8

- 0 . 3

- 0 . 3

- 1 .7

- 0 . 8
- 2 .2

...

- 0 .2

0 .2

6 4 . Compensation of employees as percent of
national income'
B7.

Lg.Lg.Lg ...
Money and

do

...

Credit

Money:
8 5 . Change in money supply ( M l ) '

L.L.L....

do

0 . 7 0

0 . 7 5

0 . 6 2

0 .'6 8

0 . 1 6

0.16

0 . 4 0

1 0 2 . Change in money supply ( M 2 ) '

L.C.U....

do

0 . 7 5

0 . 9 3

0

0 . 4 0

0

L.L.L....

do

0 . 86

0 . 8 1

0 . 5 1
0 . 9 0

0 . 6 3

1 0 4 . Change in total liquid assets ( s m o o t h e d 6 ) '
1 0 5 . Money supply ( M l ) , 1 9 7 2 dollars

L.L.L.... Bil. dol

• 1 0 6 . Money supply ( M 2 ) , 1 9 7 2 dollars

NA

. 6 4

NA

-0.62

0 . 2 4

- 1

0 . 5 0

0 . 2 4

- 0 . 1 4
na

NA

2 1 8 . 9

2 1 9 . 5

2 1 9 . 3

2 1 9 . 4

217

.3

MA
0.

9 0 6 . 7

913

9 1 9 . 9

9 1 8 . 9

921

922

.9

0 . 3

. 4 9 0

6 . 6 6 9

6 . 7 3 7

6

. 2 9 7

1 . 3 1 6

1 . 3 2 2

1 . 3 2 9

1 9 8 . 7

2 1 3 . 8

217

8 1 4 . 3

8 8 8 . 8

6 . 6 9 6

do

L.L.L....

.49

6

1 . 3 7 6

1

- 5 . 1 2

36

.6

1

. 0 0
.9

na

.02

0. 06
0 . 12
0.

- 0 . 52
- 0

.14

NA

10

0 .6

0 .3

0 .8

0 .7

0 . 0 6 8

.5

- 1 .0
0 . 2

0 . 0 1 7

. 0 0 1

0 . 0 0 6

0 . 0 0 7

na

3 8 . 91

- 3 0 . 77

36 . 13
30 .08
7 .2

- 5

Velocity of Money:
1 0 7 . Ratio, GNP to money supply ( M l ) '
1 0 8 . Ratio, personal income to money supply ( M 2 ) '

C.C.C.... Ratio
C,Lg,C....

do

. 7 5 4
0 . 0 0 2

0

Credit Flows:
3 3 . C h a r g e in mortgage d e b t '
1 1 2 . Change in business loans'
-113. Change in consumer installment credit 3
• 1 1 1 . Change in credit outstanding'

. L.L.L.
.

L,LULU....

A.r., bil. dol

. 0 8

do

17

. 3 2

3 . 6 6

do

13

.36

3 9 . 7 7

. 4 8

1 3 0 . 3 9

9 9 . 6 2

91

. 1 8

91

8 8 . 3 8

2 9 . 5 9

11

.57

3 8 . 0 3

9 7 . 8 7

6 9 . 5 5
1 2 . 2

7 1 . 9 8

A.r., percent

1 . 9

4 . 9

1 4 . 7

A.r., bil. dol

2 7 1 . 4 1

3 9 0 . 9 9

3 9 3 . 4 8

1 4 . Liabilities of business failures ( i n v . ' ) ®

Mil. dol

1 3 0 0 . 9

3 9 . Delinquency rate, installment loans ( i n v . 1 ) "

Percent, E O P . . .

1 1 0 . Total private borrowing

NA

8 9 . 3 3

5 2 . 2 5
67 . 7 9

21

.9

4 8 2 . 2 8

10.1

51

. 4 0

1 2 . 3

MA

73

.92

NA
NA

- 1 . 8 5
2 6 . 4 6
• 2 0 . 5 8
2 . 2

3 5 . 8 9

MA
NA

22 .6

8.79
- 2 8 . 32
- 9 .7

NA

Credit Difficulties:




2 . 1 8

NA
1

. 9 4

NA
1

.85

NA
2 . 0 2

MA
2 . 1 0

MA
1 . 9 3

NA

2.10

MA
- 0 . 1 7

NA
NA

NA
- 0 . 17

NA
- 0 . 0 8

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

Table 1.

Percent duifi»
Unit
of
measure

Series title end timing classification'

2d Q
1984

3dQ
1984

Aug.
1984

Sept.
1984

10

- 1 , 8 9 6

- 6 , 4 2 4

2,507

7 , 0 6 1

•7,334
8,017

-6,622

745

1st Q
1984

1983

1982

I.

Aug.
to
Sept.
1984

Annual average
Oct.
1984

Sent.

1st Q
to

Oct.
1984

1981

CYCLICAL INDICATORS—Con.
B7. Money and Credit—Con.

Bank Reserves:
93, Free reserves (inverted 1 )' ®
9 4 . Borrowint from te Federal R e s e r v e ' ®

L.U.U.
L,lg,U....

Interest Rates:
119. Federal funds rate' ©
114. Treasury bill r a t e ' ®
116. Corporate bond yields 1 ®
115. Treasury bond y i e l d s ' ®
117. Municipal bond y i e l d s ' ®
118. Mortgage yields, residential' ©
67. Bank rates on short-term business loans' ®
• 1 0 9 , Average prime rate charged by banks' ®

L,Lg.Lg.... Percent
do...
C,Lg,Lg....
do...
Lg.LE.Lfl..
do...
C,Lg,lg.,
do.,.
U.t.g.Lg....
...do...
Lg.Lg.Lg....
...do...
Lg,Lg,lg....
do..
Lg,Lg,Lg....

Outstanding Oebt:
66. Consumer installment credit"
72. Commercial and industrial loans outstanding
• 1 0 1 , Commercial and industrial loans outstanding,
1972 d o t e
• 9 5 . Ratio, consumer M a l l credit to pets,
tome'
II.

Lg,Lg,Lg.... Bil. dol., EOP
Lg.Lg.Lg.... Bil. dol

...do..

Lg.Lg.Lg....
Lg,lj,Lg.... Percent

- 6 9 2
1 , 0 5 2

1

1 2 . 2 6
1 0 . 7 2
1 4
1 2
11
15

. 6 8
. 2 3
.66
.30

1 4 . 6 9
1 4 . 8 6

-545
,034

9 . 6 9
9.13

10 . 5 6
9.84

11 . 3 9
10.34

.25

12.94

1 4 . 1 8

13 .7 2

11
10
13

10.
9.
1 3 .
10.
1 0 .

8
5
1
6
7

11 .54
9.73

1 2 . 6 9
10 .37
14.57

12 .34
10.17
14.26

12 .23
9.99
1 4 . 2 1

12
12

1 3 . 2 9
1 2 . 9 9

13

!00

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

443

.24

3 0 8 . 2 1

447
311

1 1 8 . 3 9

1 1 8 . 0 9

1 1 9 . 8 1

9.09
8.62
4
1
1
4
9

13 . 3 2
11.06
11 .07

3 8 8 . 7 2

405

264

2 7 3 . 7 2

296

1 0 5 . 3 9

1 1 3 . 3 1

.94

104.13

.66

.45
.31

26

1 0 6 . 7 4
13 . 1 0

,242

12

3 4 8 . 9 4
8.24

7

13

.34

13

.68

2 8 0 . 9

215
298
0
291
303
315
323
3 1 2
2 87
284

.3
.4
.3
,7
.1
.8
.6
. 4
.3
.6

220 .6
306 .4
0 . 4
301 .4
3 0 9 . 3
3 2 0 .5
3 3 4 . 7
3 1 8 . 0
291 .6
2 8 9 . 8

1 4 8 . 3

155

.1

158.7

9 3 . 4
1 5 4 . 1

9 4
1 6 1
98
103
103

. 8
. 6
.3
.7
.4

9 4
165
98
105
105

4 3 0 . 1 3

14

.24

.12

14.53

14

.64
.49
.54

.55

- 5 , 4 1 6
6,017

-712
-775

•1 ,206
•1

,225

-

1
4
5
1
5
6

11 .30
1 0 . 4 1
13 .37
11 .97

9.99
9.97
13.02

10 . 1 0

10.25
13 . 4 3

1 . 3
0 . 4
0 . 3
0 . 3
0.1
- 0 . 5

12 Is8

— 0 13 9

13

.99

12*97

.52
.3

- 0 . 3 4
-0.08

11 .66

NA
317

.54

122.22

HA

1 4 . 5 9

1 .0
1 .0

1 .5
0.04

1,906
1,76 J

0.87
0.7 1
1 .24
1.11
0.64
1.25
1.3 9
1.24

NA

6.0

2.0

7.5

2.0

NA

8.2

0

.44

OTHER IMPORTANT ECONOMIC MEASURES
B. P r i c e s , W a g e s , a n d P r o d u c t i v i t y
B l . Price M o v e m e n t s

310.
320.
320c,
322.
330.
335.
331.
332.
333.
334.

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

Implicit price deflator, GNP
Consumer price index (CPI), all items ©
Change in CPI, all items, S / A '
CPI, food
Producer price index ( P P I ) , all commodities ®
PPI, industrial commodities ©
PPI, crude materials
PPI, intermediate materials
PPI, capital equipment
PPI, finished consumer goods
B2.

Wages and

C.

441.
442.
37.
444.
445.
446.
447.
Labor
451.
452.
453.

Labor Force, Employment,
Unemployment

1977—100...
do
do
do
do
do

.4
. 1
. 3
.7
.3
. 3

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

Millions
do
Thousands...
do
do
do
do

Force Participation Rates:
Males, 2 0 years and over'
Females, 2 0 years and over'
Both sexes. 16-19 years of age'...

9 6 . 8
1 0 0 . 9
1 0 0 . 0

1 1 0 . 2 0
99.53

Percent
do.,
do..

Dl.

.4
.7
.3
.3
.4
.2

333
320
294
290

.9
.5
.1
.4

2 2 4 . 4

313.0

3 1 5
0
3 0 4
3 0 9
323
3 2 4
320
294
2 8 9

0
1
-0
0
0
0
-0
0

.
.
.
.

3
4
9
4
.2
. 0
.5
.6
. 9

3 2 8 . 5
3 2 0 . 5
295 .9
290 .7

0
3 0 4
3 1 0
323
3 27
320
2 96
290

.5
. 1
. 9
.5
.2
.5
.2
.7

314
0
303
309
322
327
320
296
290

.5
. 4
.8
.5
.3
.0
.1
.3
.0

159.9

161

160.6

161

.7

161.6

0.7

-0.1

95
167
98
107
106

94.5
1 6 9 . 0
98.2

94

.3

94.1

0.2

-0.2

3 1 3
0
3 0 3
3 1 0
323

.
.
.
.

1
4
4
8
.3

0 . 9

0.2

. 9
.9
.2
.7
.2

.2
.4
.1
.0
.6

.0

94

0.8

0.3
0.9

-0.1
1 .2

107 .5
106.6

1.3

1 0
5
3
1
9

, 6 7 8
, 0 8 9
, 6 1 3
,977
, 0 0 6

111.55
100.83
10,717
5 ,257
3 , 6 3 2
1 , 829
9,075

78.7
5 2 . 7
5 4 . 1

78.5
5 3 . 1
53.5

1 1 2 . 6 1
103 .74
8,866
4 , 1 4 9
3 , 1 4 9
1 , 5 6 8
7 ,372

113 .64
105 .15
8,496
3 , 904
3 , 0 8 8
1,503
6 ,993

1 1 3 . 4 9
104.97
8,526
3,853
3 ,264
1 ,409
6 ,980

78.3
5 4 . 0

78.3
53 . 8

54.5

78.3
5 3 . 2
5 3 . 7

1 1 3 . 7 1
105.20
8,510
3 , 8 7 8
3 , 1 6 3
1 ,468
7 ,009

5 3 . 7

7 8.3
5 3 . 8
5 2 . 3

113.70
105.24
8,460
3,875
3,053
1 ,532
6,986

78.3
53.5
54.3

114.02
105 . 5 9
8,431
3 , 7 5 8
3 , 2 0 4
1 ,470
7 ,000

7 8.3
53
53.6

0.2

0.9

0.3

1 .4
- 4 . 2

-0.8
0.6

-5.9

-6.5

- 1 .S
- 4 . 1
- 5 . 1

8.7

0.1

0.
- 0 . 3

2.0

0.
0 . 4
- 0 . 7

0.
0.
0.8

G o v e r n m e n t Activities
Receipts and Expenditures

500.
501.
502.
510.
511.
512.

Federal Government surplus or deficit'
Federal Government receipts
Federal Government expenditures
State and local government surplus or deficit 1
State and local government receipts
State and loeal government expenditures

517.
525.
548.
557.
570.
564.

Defense Department obligations incurred
Defense Department prime contract awards
New orders, defense products
Output of defense and space equipment
Employment in defense products industries
National defense purchases

D2.

E.

222
309
0
301
311
323

and

Total civilian labor force
Total civilian employment
Number of persons unemployed
Unemployed males, 20 years and o v e r . . . .
Unemployed females, 20 years end o v e r .
Unemployed persons, 16-19 yeais of age.
Number unemployed, M - M i r . e workers....

D.

602.
604.
606.
612.
614.
616.

207
2 8 9
0
285
299
3 1 2

Productivity

340. Average hourly earnings, praduction workers,
private nonfarm economy
341. Real average hourly earnings, production
workers, privpte nonfarm economy
345. Average hourly compensation, nonfarm business
345. Real average hojrly compensation, nonfarm business
370. Output per hour, private business sector
358. Output per hour, nonfarm business sector

8

Mil. dol
do..

Defense

A.r„ bil. dol..
do
do
do
do
do

- 1 4 8 . 2
616 .7
7 6 4 . 9
3 2 . 9
441 .9
4 0 9 . 0

-17 8.6
641 .1
819.7
44 .1
47 8.2
434 .1

- 1 6 1 . 3
686 .4
847 .6
5 3 . 9
5 0 9 . 6
455 .7

- 1 6 3 .
704
86 8
54.
520
466

Mil. dol
do
do
1967 — 100...
Thousands
A.r., bil. dol...

1 8 , 9 0 8
1 0 , 7 1 8
6 , 2 5 6
1 0 9 . 4
1 ,367
1 7 9 . 5

20 , 6 3 5
10,787
6 , 7 7 2
1 1 9 . 9
1 ,355
200 .5

2 2 , 4 1 9
14,380
8 , 4 7 9
129.3
1 , 3 91
213 .4

1 9 , 7 6 9
1 0 , 8 3 4
6 ,306
133 .3
1 ,420
220 .8

22

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

1 7
3
4
2 0
4
2

16
3
3
21
4
2

17,
3 ,
3 ,
2 6 ,
4 ,
3 ,

1 7 , 7 0 2

18,552

2
3
2 6
5
3

3
3
2 9
4
4

7
.3
.0
5
.6
.1

- 1 7 6 . 9
707 .4
884.3
45 .8
523
477

- 2 . 4

2.

.3
.5

Indicators
,092

2 3 , 0 9 8

NA 1 2 , 6 4 7
7 , 1 2 8
1 3 6 . 9
1 ,452
220 .4

7 , 5 84
136
1 ,452

22 ,1 91
na
6 ,586
1 3 8 . 0
1 ,462

NA
NA
4,725
139.0
NA

- 3 . 9
na
-13 .2
0 . 9
0.7

NA

-11.8

na
- 2 8 . 3
0 . 7

- 2 4 . 7
-25 .6

NA

3.1
2.1

3.5

U.S. International Transactions
El. Merchandise Trade

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




,
,
,
,
,
,

6
0
0
3
9
4

9
5
0
2
6
4

4
3
7
9
4
2

,722
, 0 1 1
,536
,513
, 3 83
,935

7
3
8
5
6
6

55
3 0
7 4
0 1
6 7
0 9

,997
, 8 4 4
, 4 3 1
,267
, 7 7 4

,
,
,
,
,

1
7
2
5
1

3 7
6 9
9 3
3 2
13

18,036
3 ,022
3 , 8 7 8
26,567
4 ,049
3,6

18
3
3
2 9
4
4

,
,
,
,
,
,

1
1
6
4
4
6

7
5
4
3
4
8

7
3
0
0
4
1

0.8

- 0 . 3

4 . 3

-10.0

10.8

- 0 . 3
12.9
4.6

-6.1
9.8
28.3

-0.8

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

of

Series title

A n n u a l average

4th Q
2d Q
1983

measure

3d Q
1983

4th Q
1983

1st Q
1984

2d Q
1984

-17.53

to

1st

1st Q
1984

3d Q
1984

q
to
2d Q
1984

-3.40

-4.77

II. O T H E R IMPORTANT ECONOMIC
MEASURES—Con.
E2. Goods and Services Movements Except
Transfers Under Military Grants
3.28

- 0 . 2 8

-8.23

-7

.71

-9.70

•14.13

6 6 8 . Exports of g o o d s and services

..do...

93 . 9 3

87 . 3 6

84.83

84.91

88.74

NA

6.

..do..

90 . 6 5

87 . 6 5

83.05
91.28

81 . 3 6

6 6 9 . I m p o r t s of goods and services

89 . 0 7

94.53

99 . 0 4

108.22

111.05

NA

9.3

6 2 2 . M e r c h a n d i s e t r a d e balance 3

...do...

-7

-9.12

-15.26

•14.87

-17.50

•1 9 . 4 1

-25.86

-25

618. Merchandise e x p o r t s . .

..do..

59.27

48.74

50 . 4 4

51 . 8 3

53 . 9 4

620. Merchandise i m p o r t s . .

... d o . .

66 . 2 7

50.06
65.33
19.25
13.37

63.62

67 . 9 4

71 . 2 4

79.79

18.97

20 .80

1 9 .61

23 . 3 0

20 . 6 2

13 . 0 0

13 . 6 3

14.49

15.55

16 . 9 6

6 6 7 . Balance on goods and services 3

.00

6 5 1 . Income on U.S. i n v e s t m e n t s abroad

...do..

21 . 6 0

6 5 2 . Income on f o r e i g n i n v e s t m e n t s in the U.S

..do..

13 . 0 9

20.96
14.01

90 . 6 9

-22

.30

NA

-2.2
2 . 6

0.12

.74

-33.28

54 . 6 0

54.99

4.1

1 . 2

80 . 3 3

8B.27

0.7

na

12.0
18.

-11.5

na

7.3

9.1

.2

3.5

2.6

2 .4

1.7
1.5

-6

.45

A. National Income and Product
A l . G N P and Personal Income
A.r., bil. d o l . .

2 0 0 . GNP, c u r r e n t d o l l a r s . . .

do

5 0 . GNP, 1 9 7 2 d o l l a r s

2957.8

306 9 . 3

3304.8

3267

.0

3346.6

3 4 3 1 .7

3553 .3

3644.7

3695

1512.2

1480.0

1534.7

1524.8

1550.2

1 5 7 2 .7

1610.9

163 8 . 8

1646 .5

6,370

6,510

6,602

6 , 6 81

2 1 7 . Per c a p i t a GNP, 1 9 7 2 d o l l a r s

A.r., d o l l a r s . .

6,572

213

A.r., bil. d o l . .

1500.9

1490.4

1538.3

1530.9

1549.3

1565

2367

2428.6

Final sales, 1 9 7 2 dollars

6 ,543

2 2 4 . Disposable personal i n c o m e , c u r r e n t d o l l a r s

do

2041.7

2 1 8 0 .5

2340.1

2302

225.

do

1049.3

1058.3

1 0 95 . 4

1082.0

A.r., d o l l a r s . .

4,561

4,555

A.r., bil. d o l . .

Disposable

personal

Income,

1972 dollars

2 2 7 . Per c a p i t a disposable personal i n c o m e , 1 9 7 2 d o l l a r s . .

.9

4,670

.4

1102.2

4,619

4 , 6 94

6 , 82 9

6,949

2 . 2

1579.3

1618.5

1616 .5

0.9

2502 .2

2554.3

2 6 0 6 .1

3.0

1147.6

1165.3

1176.4

4,776

4,865

4,930

.4

1124.3

6 ,933

2.5

2.1

2.1

1.5

4 , 965

1 .9

1.3

A2. Personal Consumption Expenditures
184 9 . 1

1 984 .9

2155.9

2141 .6

2181 .4

2230 .2

2332 .7

2360.8

2.1

950 .5

963 .3

1009.2

1015

.6

1032

1044.1

1064.2

1 0 6 5 .6

1.1

2.5

do

1006 . 2

2276 .5

2 3 1 . Total, 1 9 7 2 dollars
2 3 2 . D u r a b l e goods, c u r r e n t dollars

do

235

.4

245 .1

27 9 . 8

276 .1

2 84 . 1

299

310.9

320 .7

318.5

3.7

3.2

2 3 3 . D u r a b l e goods, 1 9 7 2 dollars

do

140 . 9

140 .5

157.5

156

159.6

167.2

173.7

17 8 . 6

177 .6

3.9

2.8

2 3 0 . Total, c u r r e n t dollars

.2

.4

2 3 6 . N o n d u r a b l e goods, c u r r e n t d o l l a r s . . .

do

730 .7

757 .5

801 .7

7 96 . 9

811 .7

823 .0

841 .3

85 8 . 3

861 .1

2 3 8 . N o n d u r a b l e goods. 1 9 7 2 d o l l a r s
2 3 7 . Services, c u r r e n t dollars

do

360 . 8

363 .1

376 .3

374 .9

37 8 . 5

383 .2

3 87 . 1

396 .6

395 .4

do

883 .0

982 .2

2 3 9 , Services, 1 9 7 2 dollars

do

448 . 8

45 9 . 8

475 .4

475 .1

477 .6

2 4 0 . Total, c u r r e n t dollars

..do..

484 .2

414.9

4 7 1 .6

...do..

230 .9

194.3

221 . 0

449,

2 4 1 , Total, 1 9 7 2 dollars

212

242

..do..

45 8 .1

441 .0

485

2 4 3 . T o t a l fixed i n v e s t m e n t , 1 9 7 2 dollars

..do..

219.6

..do...

26 . 0

204. 7

2 4 5 . Change in business i n v e n t o r i e s , c u r r e n t dollars 3

-26.1

..do...

11.3

-10.4

- 3 .6

1068.6

2.2

1.9

2 . 0

1 .0

2 .5

1 .5

2 . 6

1 .1

1124 .4

1153.7

1 1 8 1 .2

482 .0

4 83 . 4

488.9

4 9 2 .6

0.3

491 .9

540

.0

623 . 8

627 .0

662 .3

15 . 5

0.5

230 .6

2 4 9 .5

2 85 . 5

283 . 9

3 0 0 .6

14.4

-0.6

469

496 . 2

527

550 .0

576 .4

4.3

2 2 4 .6

218,

229.8

242 .2

253 .

9

5 93 . 8

263 .7

270.6

- 1 3 .5

-1 9

-4.3

12 .7

73 .

50.6

68.5

61 .1

-23

.2

0.9

7 .2

31 .6

20.3

30.0

24.4

-11

.3

1074.4

1 0 85 . 7

1107.5

A3. Gross Private Domestic Investment

T o t a l fixed i n v e s t m e n t , c u r r e n t d o l l a r s

30. Change in business i n v e n t o r i e s , 1 9 7 2 dollars 3

.1

.3

4.8

4.8
3.9

A4. Government Purchases
of Goods and Services
2 6 0 . Total, c u r r e n t dollars

596 .5

6 5 0 .5

6 85 . 5

6 82 . 2

689.8

691

.4

704 .4

743 .7

762 .0

1 .9

2 6 1 . Total, 1 9 7 2 d o l l a r s
2 6 2 . Federal G o v e r n m e n t , c u r r e n t d o l l a r s . . . .

2 87 . 0

292 .7

291 .9

292

.4

292 .0

288.8

289 .5

302 .1

306

0.2

228 .9

25 8 . 9

26 9 . 7

270 .5

269.2

266 .3

267 .6

.4

302 .

2 6 3 . Federal G o v e r n m e n t , 1 9 7 2 dollars

110.3

117.0

116 .2

117.2

115.6

113 .0

112.2

296
123

.2

125

2 6 6 . State and local g o v e r n m e n t s , c u r r e n t dollars
2 6 7 S t a t e a n d local g o v e r n m e n t s , 1 9 7 2 dollars

36 7 . 6

391 .5

415

411 .6

420 .6

425

436 . 8

447

.4

45 9 . 3

2.8

2.4

176.8

175.7

175.7

175.2

176.4

175.8

177.3

178.9

181

.4

0.9

0.9

28.0
43 . 8
369 .9
160.2
341 .9
116.4

19.0
29.7
348.4
147.6
329.4

-6.5
13.6
328.1
137 . 0
334 .5
123 .4

-16.4
11.9
342 .0

-29.8

- 5 1 .5
-8.3
358.9
144.9
410.4
153 .2

-58.7
-11 .4
362 .4
144.7
421 .1
156 .2

-89
- 2 6

.9
.6

- 2 1 .7
-10.3
3.7

2609.0
1962 .4

2684.4
2000 .7
123.3
56.2
245 . 0
25 9 . 2

.8

.1

.8
.4

0.5
-0.7

5 .6
4.4

10.S
9.8

A5. Foreign Trade
2 5 0 . N e t e x p o r t s of goods and services, c u r r e n t dollars 3
2 5 5 . N e t e x p o r t s of goods and services, 1 9 7 2 dollars
2 5 2 , E x p o r t s of goods and services, c u r r e n t d o l l a r s .
2 5 6 E x p o r t s of goods and services. 1 9 7 2 dollars
2 5 3 . I m p o r t s of goods and services, c u r r e n t d o l l a r s .
2 5 7 . I m p o r t s of goods and services, 1 9 7 2 dollars

118.0

-8.3

12.6

336 .2
13 9 . 5
344 .4
126 .9

141.6
358.4
129.7

2 .0

346 .1
141 .0
375 .9
139.1

369.3
147.8
45 9 . 2
174.4

2.

9.2

10 .1

-7 .2
-3.1
1 .0

-0.1
2 . 6
2 . 0

A6. National Income and Its Components
..do...
..do...
do.
..do..
..do..
..do...

2363.8
1765.4

42.3
1 89 . 9
241.0

51 .5
15 9 . 1
260.9

2 9 0 . Gross saving ( p r i v a t e and g o v e r n m e n t ! .

do...

484 .3

408.8

437

2 9 5 . Business saving

do..

37 2 . 6

3 88.0

453 .6

2 9 2 . Personal saving

do..

137

.4

136.0

118.1

do-

-26

.7

-115.3

-134.5

•123 .4
4.2

220.
280.
282.
284.
286.
288.

N a t i o n a l income
C o m p e n s a t i o n of employees
P r o p r i e t o r s ' income w i t h IVA and CCAd|
Rental i n c o m e of persons w i t h CCAdj .
C o r p o r a t e p r o f i t s w i t h IVA and C C f l t f i . .
N e t interest

125.1

2446 . 8
1 86 4 . 2

111.1

2646 .7
1 984 .9
121.7
58.3
225 .2
256 .6

116.9

59.0
216 .7
254 .2

2766
2055
131
60

.5
.4
.9
.4

2873.5
2113 .4
154.9

2944.8
2159.2
149 .

61.0

62.0

277 .4

291 .1

25 8 . 9

266

551

260 . 0

2 82 .8

2983.4
2191.9
154.5
63.0
281 .5
292 .5

3.9

2.

2.5

2.2

17 . 4

-3.3

6.7
3 .1

1 . 6
4.9
6 . 0

1 .0

A7. Saving

2 9 8 . G o v e r n m e n t surplus or deficit 3
293

Percent

Personal s a v i n g rate 3

NOTE: Series are seasonally a d j u s t e d e x c e p t for those, indicated by
m o v e m e n t . Series i n d i c a t e d by an a s t e r i s k
current dollars unless otherwise specified.

(*)

6.2

5 .0

( u ) , t h a t appear to c o n t a i n no seasonal

are i n c l u d e d in the m a j o r c o m p o s i t e indexes. Dollar values are in

For c o m p l e t e s e r i e s t i t l e s a n d s o u r c e s , see " T i t l e s a n d S o u r c e s of

S e r i e s ' ' a t the b a c k o f t h i s issue. IVA, n o t available,
seasonally a d j u s t e d

6 .7

a, a n t i c i p a t e d . EOP. e n d of p e r i o d . A . r . , a n n u a l rate.

( u s e d for special e m p h a s i s ) . IVA, i n v e n t o r y

v a l u a t i o n a d j u s t m e n t . CCAdj, c a p i t a l

S/A,

consumption

adjustment
The t h r e e p a r t t i m i n g code i n d i c a t e s t h e t i m i n g c l a s s i f i c a t i o n of t h e series at peaks, at t r o u g h s , and at all
t u r n s ' 1, leading; C. roughly c o i n c i d e n t : Lg, lagging; U. unclassified.




.2

414.7

455 .2

485 .7

543

441

.4

46 9 . 7

486 .4

498 .8

515.3

522 .4

96 . 7

119.0

128.7

152 .5

144.

164.3

-133.5

-129.3

-107.4

5 .0

5 .3

.9

6 . 1

.0

-109.2
5 .7

555 .5

-131.1
6.3

12.0

2.5

1 .3
3 .3

18.5

-5

21 . 9

- 1 .8

0 . 8

-0.4

.0

' For a few series, d a t a s h o w n here are r o u n d e d t o f e w e r digits t h a n t h o s e s h o w n e l s e w h e r e in B C D . A n n u a l
f i g u r e s published by the source agencies are used if available.
' D i f f e r e n c e s rather t h a n percent changes are s h o w n for t h i s series.
1 I n v e r t e d series. Since this series t e n d s t o m o v e c o u n t e r t o m o v e m e n t s i n general business a c t i v i t y , signs of
the changes are reversed.
3

End-of period series. The a n n u a l figures

( a n d q u a r t e r l y figures f o r m o n t h l y series) are the last f i g u r e s f o r the

period.
' T h i s series is a weighted 4 - t e r m m o v i n g average
the span

( w i t h w e i g h t s 1, 2, 2, 1) placed on the t e r m i n a l m o n t h of

9

CYCLICAL INDICATORS
COMPOSITE INDEXES AND THEIR COMPONENTS
Chart Al. Composite Indexes
Nov Qrt
P

T

iii!v M a y

P I

Aug A(.[
P I

A p ' Feb
P T

"to*
Pi

DM

Ms" Mai
F T

J a n . J u l y Jutv
P

T

P

Nov
T

[Index: 1967=1001

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

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 83

841985

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 1984

IECII

CYCLICAL I N D I C A T O R S
COMPOSITE INDEXES AND THEIR COMPONENTS—Continued
Chart Al. Composite Indexes—Continued
Nov. Oct.
P

July M a y

T

P

Auc Apr.

T

P

Apr f f i j

I

P

T

P

T

P

I

P 1

p

T

1 Index: 1967=1001
914. Capital investment commitments (series 12,20,29)
-15
120 -

-10

"30

^

-13

^

110-

^

100-

^ N /

-1

-2

Sib. inventory nvestment and purchasng (series 8, sJ£, it>, as)
-24

-12

90-

~

-10

J

»

*

"

•";•»•

-3

.. 1

T

V

'V

\ J

m•

130'
146-

In

w ^
0

~21.

-11

V

"-4

940. Ratio, coincident index to lagging index

\

-12
——

\

,

110-

J ^ V

-i

/J

,

i
100-

0

-2

1948 49 50 51 52 53 54 55 56 57 58 59 60 61 62 63 64 65 66 67 68 69

r

70

71 72 73 71 7 > 76

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.

1984

120"

90'

NOVEMBER
TT€L)

130 [Ml

-1.1

J\

-4




A.

-n

77 78

79 80 81 82 83 84 1985

| J

CYCLICAL I N D I C A T O R S

A

COMPOSITE INDEXES AND THEIR COMPONENTS—Continued

C h a r t A 2 . Leading Index C o m p o n e n t s
Nov

0-;

Jj:y V,iy

A.,, ,.;•

;

:

•

';•

,.

N',

Ms:

Jan.Juiy J U y

Nov.

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

1948 49 50 51 52 53 54 55 55 57 58 59 60 b! 62 63 64 65 66 67 68 69 70 71 72 73 74 75 76 77 78 79 80 81 82 83

841985

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

12




NOVEMBER 1984

K C I I

I

CYCLICAL I N D I C A T O R S
COMPOSITE INDEXES AND THEIR COMPONENTS—Continued

Chart A2. Leading Index Components—Continued
N o v Oc
P
I

ioiy Mas
p
I

Apr
T

Apr. p e^
P

T

Dec N o v .
P
T

Nov
P

Ms!
I

jan July i d y
P T

P

Nov
T

29. New bidding permits, private housing units (index: 1967

36. Net change in inventories on hand and on order in 1972 dolars, smoothed1 (am. rate, bl. dol.)

99. Change ii sensitive materials prices, smoothed1 (percent)
U44-

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

i l l . Change in credit outstanding—business and consumer
borrowing (am. rate, percent) f [ J J

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
'This is a weighted 4-term moving average (with weights 1,2,2,1) placed on the terminal month of the span.
Current dataior these series are shown on pages 67, 6 8 , 6 9 , 71, and 72.

IM:I» NOVEMBER

1984




79 80 81 82 83

841985

CYCLICAL I N D I C A T O R S
IA |

COMPOSITE INDEXES AND THEIR COMPONENTS—Continued

Chart A3. Coincident Index Components
Nov. Oct.
P

July M a y

T

P

Apr Feb

Aug. Apr
P T

T

P

Dec N o v
P
T

T

Nov

War

P

J a n . j u l y July

T

P T

Nov

P

T

100-

/

90-

H

41. Employees on nonagricultural payrols (mffons)

80-

|C,C,C|

70-J

51. Personal income less transfer payments in
1972 dolars (am. rate, M. dol)
fc£c
800

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

83

J

841985

Current data for these series are shown on pages 62, 63, and 65.

14




NOVEMBER 1984

IM:I»

CYCLICAL I N D I C A T O R S
COMPOSITE INDEXES AND THEIR COMPONENTS—Continued
Chart A4. Lagging Index Components
Nov. Oct
P

July M a y
P

T

Aug. Apr
P T

T

Dec N o v .

Apr Feb
P T

P

Jan.July July
P T
P

Nov. Mar

T

P

T

Nov
T

91. Average duration of unemployment (weeks—inerted scale)
IfUHH

10

77. Ratio, constant-dotar inventories to sales, manufacturing

"""""few

fW71

62. Labor cost per unit of output, manufacturing-actual data
as percent of trend (percent) [ X t J ^ i T 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

81

82

83

841985

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

I I C I I NOVEMBER 1984



15

CYCLICAL INDICATORS

B

CYCLICAL INDICATORS BY ECONOMIC PROCESS

Chart Bl. Employment and Unemployment
j a r Jolv
P

I

j_<:v

Nov

P

!

I Marginal Employment Adjustments!

5. Average weekly initial claim, State unemployment insurance
(thousands—inverted scale)

)Job Vacancies]
fin Ratin hrip-wantert afaartkhy tn numhw
of persons unemployed (ratio)

059

SO

51

62

63

64

65

66

67

69

70

71

72

73

74

75

76

77

78

79

80

81

82

83

84

85

1986

Current data for these series are shown on page 61.

16



NOVEMBER 1984

licit

CYCLICAL I N D I C A T O R S

B

CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued

Chart Bl. Employment and Unemployment—Continued
Deo N r.

Al>!

P

lev.

Ito

1

|Comprehensive Employment!

1959

60

61

62

63

64

65

66

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

licit

 NOVEMBER 1984


67

68

69

70

71

72

7 3

74

75

76

77

78

79

8 0

81

82

83

84

85

1986

CYCLICAL I N D I C A T O R S
| B | CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued
Chart Bl. Employment and Unemployment—Continued
Apr

Feb

[!<»

Nov

Nov

Mar

P

T

P

I

P

T

Jan. July
F

T

July

Nov.

P

I

jComprehensive Unemployment!
37. Number unemployed (mions—inverted scale)

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

Z

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

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

16
18

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

1959

60

61

62

63

64

65

66

67

68

69

70

71

72

73

74

75

76

77

78

79

80

81

82

83

84

85

1986

Current data for these series are shown on page 62.

18




NOVEMBER 1984

ITCII

CYCLICAL I N D I C A T O R S

B

CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued

Chart B2. Production and Income
Apr. Feb
P

Dec

Nov.

P

T

T

Jan. July
P

July

T

80

81

Nov.

P

T

| Comprehensive Output and Income |

50. GNP in 1972 dobrs, Q (am. rate, bi. dol)

1959

60

61

62

63

64

65

Current data for these series are shown on page 64.

ITCII

 NOVEMBER 1984


66

67

68

69

70

71

72

73

74

75

76

77

78

79

82

83

84

85

1986

i l

CYCLICAL INDICATORS

IB

CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued

Chart B2. Production and Income—Continued
Ap>

ri'O

LV-.

rj r. ••.

Nov

Mai

Jan July
P

I

?u!y

Nov

P

T

82. Rate of capacity utization, manufacturing (FRB), Q (percent)

_

AA

V 84. Rate of capacity utization. materials. Q (percent)

1959

60

61

62

63

64

65

66

67

68

69

70

71

72

73

74

75

76

H

/

• ..

77

78

79

80

81

82

83

84

85

1986

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

Digitized for20
FRASER


NOVEMBER 1984

I t C I I

CYCLICAL INDICATORS

B

CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued

Chart B3. Consumption, Trade, Orders, and Deliveries
Apt

Nov

Mar.

P

T

Jan. July
P

July

Nov.

T

P

T

80

81

|Orders and Deliveries!
6. New orders, durable goods industries, in
current dolars (Dl. dot.)

7. New orders, durable goods industries, h 1972 dolars

1959

60

61

62

63

64

65

Current data for these series are shown on page 64.

ITCII

 NOVEMBER 1984


66

67

6 8

69

7 0

7 1

7 2

7 3

74

75

76

77

78

79

82

83

84

85

1986

CYCLICAL INDICATORS
I B I

CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued

Chart B3. Consumption, Trade, Orders, and Deliveries—Continued
Apt

Tet).

J*.

P

T

p

N v

Nov

If.)r

p

i

1

Jan. July
P

T

July

Nov

P

T

[Consumption and Trade|

56. Manufacturing and trade sales in current dclars
(M- dol)
[ W 3
"

Manufacturing and trade sales
" $7?
(Wt flr)
GSS
75. Industrial production, consumer goods
(index: 1967=100T

101

mi

54. Saks of retal stores in curort dolars (M. dol.)

1959

60

61

62

63

64

65

66

67

68

69

70

71

72

73

74

75

76

77

78

79

80

81

82

83

84

85

1986

Current data for these series are shown on page 65.

22




NOVEMBER 1984

licit

CYCLICAL INDICATORS

B

CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued

Chart B4. Fixed Capital Investment
Apr

Ft

Nov

Mar

P

1

P

T

Ian. July

p

July

r

p

80

81

| Formation of Business Enterprises

1959

60

61

62

63

64

65

66

67

68

69

70

71

72

73

74

75

76

77

78

79

82

83

'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.

ltd) NOVEMBER




1984

84

85

1986

CYCLICAL INDICATORS

_B

CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued

Chart B4. Fixed Capital Investment—Continued
Dec

P

Nov

Nov.

Mai

P

Apr. F e b

T

P

T

T

120110

I Business Investment Commitments—Con

100
90

80
70

60

97. Backlog of capital appropriations, manufacturing, Q

50

35
30
25

20

400 •

.160120 280740 -

200"60 -

<=00360 320 -

280 -

200-

220200 180 160 —
140-

120-

130-

1959

60

61

62

63

64

65

66

67

68

69

70

71

72

73

74

75

76

77

78

79

80

81

82

83

84

35

1986

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

24




NOVEMBER 1984

ITCII

CYCLICAL INDICATORS

B

CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued

Chart B4. Fixed Capital Investment—Continued
Dec

Nov

F

T

Nov

Jan. July

Mar.

P

T

P

T

July

Nov.

P

T

[Business Investment Expenditures—Con.
Nonresidential fixed investment in 1972 dolars, Q (aim. rate, b l dol.)
6. Total, Q

30 - 1

1959

60

61

62

63

64

65

66

67

68

69

70

71

72

73

74

75

76

77

78

79

80

81

82

83

84

85

1986

Current data for these series are shown on page 67.

I

NOVEMBER 1984




25

H

CYCLICAL INDICATORS
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued

Chart B5. Inventories and Inventory Investment
Apr

Feb.

Ds,

Jan
F

| Inventory Investment]

Jlii/

iuiv
T

Nov

P

I

30. Change in business inventories in 1972 dolars, Q (am. rate, bi. doi.)

r*

1959

60

61

62

63

64

65

66

67

68

69

70

71

72

73

74

75

76

77

78

79

80

81

82

83

84

85

1986

'This it 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 1 9 8 4

BCII

CYCLICAL INDICATORS
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued

IB I

Chart B5. Inventories and Inventory Investment—Continued
Dec

P

Nov.

Nov

P

Apr. Feb.

Mar

T

I

Jan. July
F

T

July

Nov

P

T

I Inventories on Hand and on Order I
71. Manufacturing and trade inventories.
book value (MUM.)
X

s

/

s

70. Manufacturing and trade inventories

ruxiiii

\

280 260 240 -

220200-

78. Stocks of materials and supples on hand and on order,
manufacturing (bi. dol.)

180160140-

120100 -

60-

1959

60

61

62

63

64

65

66

67

68

69

70

71

72

73

74

75

76

77

78

79

80

81

82

83

84

85

1986

Current data for these series are shown on page 68.

IM:I» NOVEMBER 1984



27

I

CYCLICAL INDICATORS
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued

Chart B6. Prices, Costs, and Profits
Apr.

bt;

Feb.

P

T

Jao Jl..y

F

T

lu'i

Nc

P

1

Change in producer prices for 28 sensitive materials
(percent; MCD moving avg—6-term)

| Sensitive Commodity Prices |

TTfr

99. Change in sensitive materials prices (percent; moving
avg.—4-term1) [ L.L.L |
-

23. Spot market prices, raw industrials2 (index: 1967=100)

1 Profits and Profit Margins 1

18. Corporate profits after taxes in 1972 dolars, Q
(am. rate, bi. dd.) | L.L.L
^A.

i

i

/

y -

—;/

j

n

J

B

16. Corporate profits after taxes in current dolars, Q
(am. rate, bl. dol.)

m\

1959

60

61

62

63

64

65

66

67

68

69

70

71

72

73

74

76

77

78

79

80

81

82

83

84

85

1986

'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 19B1, 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 1984

K C I I

CYCLICAL INDICATORS
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued

B I

C h a r t B 6 . P r i c e s , Costs, a n d P r o f i t s — C o n t i n u e d
Apr. Feb.
P

Cec

Nov

Nov.

Mar.

P

T

P

T

T

Jan

ioiy

inly

Nov

Corporate profits after taxes with IVA and CCAdj in
1972 dolars, Q (arm. rate, bi. dol.)

1
2
10
8
6

4
7

5-

26. Ratio, price to unit labor cost, nonfarm business sector, Q (index: 1977=100)

104-

liiu

2C

102-

iii

x :

9594450-

| Cash Flows]

me

400350300250-

200-

34. Net cash flow, corporate, in current dolars, Q(ann. rate, bi. dol.)

150-

35. Net cashflow,corporate, in 1972 dolars, Q
(aim. rate, bi. dol.) f [ j j |

1959

60

61

62

63

64

65

66

67

68

69

70

71

72

73

74

75

76

77

78

79

8 0

8 1

82

83

84

85

1986

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

NOVEMBER 1984



29

I

CYCLICAL INDICATORS

B

CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued

Chart B6. Prices, Costs, and Profits—Continued
Apr.

Feb.

Dec

Nov.

Nov.

Mar

P

T

P

I

P

T

Jan July
P

July

Nov.

T

P

T

80

81

I Unit Labor Costs and Labor Share 1

63. Unit labor cost, private business sector, Q
(hdex: 1977=100)

68. Labor cost in current dolars per nit of real pass domestic product,
nonfinancial corporations, Q (dolars)

62. Labor cost per unit of output, manufacture (index: 1967=100)

64. Compensation of employees as a percent of national income,

Q (PercenO

1959

60

61

62

63

64

65

66

67

68

RiXEill

69

70

71

72

73

74

75

76

77

78

79

82

83

84

85

1986

Current data for these series are shown on page 70.

30




NOVEMBER 1984

BEN

I

CYCLICAL INDICATORS
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued

Chart B7. Money and Credit
A p r . Feb
P

Dec
P

F

| Money 1

Nov.
P

Nov
I

Mar.
T

Jan. July
P

T

July

Nov.

P

F

85. Change h money supply Ml
(percent; MCD timing avg.—6-term) |L,L,Lf"

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

L.C.U

Vyv^mVy/
.

•

V

'A

a

i

«

W

>

y

a

h

\ l _

»

>

1

, . a >

!

v

y

a

jklfv

y

!

r a i n

i

M J A
i w t f

r
1 1

r

<

is m
ry nrr

104. Change in total iquid assets (percent; moving wg.—4-term1) | L,L,L
t

fa

y

. 1

tk ^

w

105. Money supply Ml in 1972 dolars (bl. dot.)

.

-i

106. Money supply M2 in 1972 dolars (fat dot)
-

m

~

Z

M

107. Ratio, GNP to money supply Ml, Q (ratio)

Velocity of Money)
1U8. ftafio, personal ncome to money supply M2 (ratio)
j
>->

/ v

1959

60

— \
61

62

^
63

64

65

66

|C,Lg,C

^—/
67

68

69

a.
70

71

"

v
72

73

v

1

74

75

v
76

\

y
77

78

79

80

81

82

. —

83

84

dol

85

1986

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

RCI)

NOVEMBER 1984



31

[ J

CYCLICAL INDICATORS

B

CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued

Chart B7. Money and Credit—Continued
Jan. July
P

I

July

Nov

P

T

• 200- '
- 1 0 -

.959

6 0

6 1

6 2

6 3

6 4

6 5

6 6

6 7

6 8

6 9

70

71

72

73

74

75

76

77

78

79

80

81

82

83

84

85

1986

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

32



NOVEMBER 1984

ItCI)

CYCLICAL INDICATORS

B

CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued

Chart B7. Money and Credit—Continued
A i Fb
p e

(i

^ 14. Current iabities ol business faiures (mi. dol.irverted scale; MCD movinf avg.—6-term)

A

1959

60

61

62

63

64

65

66

67

68

69

70

71

72

73

74

75

76

77

78

79

HO

81

8 2

S 3

84

85

1986

Current data for these series are shown on page 72.

BCI)

NOVEMBER 1984



33

CYCLICAL INDICATORS

B

CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued

Chart B7. Money and Credit—Continued
pr. Feb
P

1959

60

Dec

61

62

63

64

65

66

67

68

69

Nov
P

Nov

P

T

I

70

71

72

73

Mrf
]

74

Jan. July
P

75

76

77

78

79

July

]

80

81

Nov

P

1

82

83

84

85

1986

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

34



NOVEMBER 1 9 8 4

IM:I»

Jan. July
P

1959

60

61

62

63

64

65

Current data for these series are shown on page 73.

B C I )

NOVEMBER 1984




66

67

68

69

70

71

72

73

74

75

76

77

78

79

July

T

80

81

Nov.

P

I

82

83

84

85

1986

B

CYCLICAL INDICATORS
DIFFUSION INDEXES AND RATES OF CHANGE

Chart CI. Diffusion Indexes
Lju.

NO.

Jan

July

P

950. Twelve leading indicator components (6-mo. span

P

Percent rising

, 1-mo. s p a n — )

100

50-

951. Four roughly coincident indicator components (6-mo. span

, 1-mo. s p a n — )
100 -

50-

952. Six lagging hdkator components (6-mo. s p a n — , 1-mo. span
1001

961. Average workweek, production workers, manufacturing—20 industries (9-mo. span

, 1-mo. span100 -

962. Initial claims, State unemployment insurance—51 areas (percent decking; 9-mo. s p a n — , 1-mo. span100-

a-l
963. Employees on private nonagricultural payrols—172-186 industries (6-mo. s p a n — , 1-mo. span100 -

%

f

A
\r v >
i

)

V* tl
VyJ

9':;9

S u

6 1

i

yf^X^'^
\

\ /''V
V
1

\
'A

•w

4 f '

6 2

S3

64

6 5

6 6

6 7

6 8

6 9

70

71

Ik
/
siW
/
? \W W
i. /
i/

,r/

'

72

A

73

74

i

it

75

76

77

78

79

80

81

82

ii
*

83

84

85

1986

Current data lor these series are shown on page 74.

36



NOVEMBER 1984

I t C I I

B

CYCLICAL INDICATORS
DIFFUSION INDEXES AND RATES OF CHANGE—Continued

Chart CI. Diffusion Indexes—Continued
Apr

! : v;

Nov.

Mar.

P

T

P

I

Jan J u l y

P

July

Nov

T

T

| Percent rising'

964. New orders, durable goods industries—34-35 industries
(9-mo. s p a n — , 1-mo. s p a n — )

100-

965. Newly approved capital appropriations, deflated—17 industries ( 4 - 0 moving a w . * - — . 1 - 0 span «-•-«)

966. Industrial production—24 industries (6-mo. s p a n — , 1-mo. s p a n — )
100-1

50-

0J
967. Spot market prices, raw industrials—13 industrial materials (9-mo. s p a n — , 1-mo. s p a n — )
100-

50-

968. Stock prices, 500 common stocks—46-82 industries (9-mo. span——, 1-mo. s p a n — )
100-

50-

960. Net profits, manufacturing—about 600 companies1 (4-Q span)

V,
V .

1959

60

•y

r*
61

62

63

64

65

66

67

68

69

70

71

72

73

74

75

76

77

78

79

80

81

82

83

®

84

85

1986

'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.

BCI)

NOVEMBER 1984



37

CYCLICAL INDICATORS*
|C

I

DIFFUSION INDEXES AND RATES OF CHANGE—Continued

Chart CI. Diffusion Indexes—Continued
Nov

Jap h , l y

Mar

P

T

P f'

July

Nov

T

Actual
Anticipated

Percent rising

War

P

Not

P

T

Jan. July
P

T

July

Nov

P

T

Actual
Anticipated

Percent rising

970. Busmss expendtures for new plant and
equipment—21 industries (1-Q span)
(a) Actual expencftures
974. Nunber of employees, manufacturing and trade ( 4 4 } span)1
70-

#n>*.

m*

Je

\V %"7
* r

•

60- .

xly

v

50-

1

40-

975. Lewi of inventories, manufacture and trade (4-Q

span)1

(a) Actual experxftures

976. Sefng prices, manufactaiing (4-Q span)1

971. New orders, manufacturing (4-Q span)1
ML
1

V"

ti/^*

\*

\/Y
VsV
m

'i

f*

XI
•

V7

100-

*

J
r

•

• *•. i
•

\

«* '
r

90-

I

V / ' /^V i
•

r

f

•, y*
J

I

\

c .

70-

60-

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

A« j

977. Seftng prices, wholesale trade (4-Q

span)1

• A l **. if
*
\ '.
vF
\i7 \ /

V

\v

978. Sefcig prices, retai trade (4-Q span)1

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

1972

73

74

75

span)1

76

77

78

79

80

81

82

83

1984

1972

73

74

75

76

77

78

79

80

81

82

83

1984

'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 1984

ItCII

B

CYCLICAL INDICATORS
DIFFUSION INDEXES AND RATES OF CHANGE—Continued

Chart C3. Rates of Change
Api

h.

Nov

P

T

P

Wai

Jan. July

f t p

I

July

Nov

r

920c. Composite index of four roughly coincident mfcatars

+ 20.

-5-

1959

60

61

62

63

64

65

66

67

68

69

70

71

72

73

74

75

76

77

78

79

80

81

82

83

84

85

1986

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 1984



39

OTHER IMPORTANT ECONOMIC MEASURES
NATIONAL INCOME AND PRODUCT

A,

Chart Al. GNP and Personal Income
Apr.
P

1959

Feb

Dec

Nov

Nov

iV;ar

P

T

P

T

I

60

61

62

63

64

65

66

67

68

69

70

71

72

73

74

j d O July
P

75

76

77

78

79

!oly

(

P

80

81

82

83

84

85

1986

Currant data for these series ara shown on pages 63 and 80.

40




NOVEMBER 1984

OTHER IMPORTANT ECONOMIC MEASURES
NATIONAL INCOME AND PRODUCT—Continued
Chart A2. Personal Consumption Expenditures
Apr. Feb.
P

Dec.

Nov

Nov.

Mar

P

T

P

T

F

Jan. July
P

I

July

Nov

P

F

Personal consunption expendftures

1959

60

61

62

63

64

65

66

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

BCD

NOVEMBER 1984



67

68

69

70

71

72

73

74

75

76

77

78

79

80

81

82

83

84

85

1986

OTHER IMPORTANT ECONOMIC MEASURES
NATIONAL INCOME AND PRODUCT—Continued
Chart A3. Gross Private Domestic Investment
Apr

Feb

P

I

Dei

J a r . !,J

P

p

T

Gross private domestic investment—

340-

JIL

300-

260220180-

243. Totalfixedinvestment, (j

140-

100-

30. Change in business inventories, Q

+ 40+30-

liiif

+ 20+ 10-

0-

-10- 2 0 -

1959

60

61

62

63

64

65

66

67

68

69

70

71

72

73

74

75

76

77

78

79

80

81

82

83

84

85

1986

Current data for these series are shown on page 81.

42



NOVEMBER 1984

OTHER IMPORTANT ECONOMIC MEASURES

0

NATIONAL INCOME AND PRODUCT—Continued

Chart A4. Government Purchases of Goods and Services
Apr.

Feb.

Dec.

Nov

Nov.

Mar.

P

T

P

T

P

T

Jan. July
P

T

July

Nov

P

T

Annual rate, bion dolars (current)

Government ptrchases of goods and services—

Annual rate, bBan dalars (1972)

1959

60

61

62

63

64

65

Current data for these series are shown on page 81.

B C I ) NOVEMBER 1984



66

67

68

69

70

71

72

73

74

75

76

77

78

79

80

81

82

83

84

85

1986

OTHER IMPORTANT ECONOMIC MEASURES
NATIONAL INCOME AND PRODUCT—Continued
Chart A5. Foreign Trade
Dec.

1959

60

61

62

63

64

65

66

67

68

Nov

P

T

69

70

Jan July

71

72

73

74

75

76

77

79

July

80

81

Nov

82

83

84

85

1986

Current data for these series are shown on page 82.

44



NOVEMBER 1984

ITCII

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

Feb.

Dec.

Nov.

Nov.

Mar.

P

T

P

T

P

T

Jan. July
P

T

July

Nov.

P

T

Annual rate, bion (Mars (current)

1959

60

61

62

63

64

65

Current data for these series are shown on page 82.

K C I I

NOVEMBER 1984




66

67

68

69

70

71

72

73

74

75

76

77

78

79

80

81

82

83

84

85

1986

OTHER IMPORTANT ECONOMIC MEASURES
NATIONAL INCOME AND PRODUCT—Continued
Chart A7. Saving
Apr.
P

Feb

Dee

Nov

Nov

Mat.

P

I

T

P

F

Jan. J u l y
P

F

July

Nov.

P

F

290. Gross savng (private and government), Q

Percent

293. Personal saving rate, Q

ion

1959

60

61

62

63

64

65

66

67

68

69

70

71

72

73

74

75

76

77

78

79

80

81

82

83

84

85

1986

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

46



NOVEMBER 1984

ITCII

OTHER IMPORTANT ECONOMIC MEASURES
IA

I

NATIONAL INCOME AND PRODUCT—Continued

Chart A8. Shares of GNP and National Income
Apr.

Feb.

Der
P

P T

Nov.

Mar.

P

Nov
I

T

Jan. J u l y
P

T

July

Nov.

P

T

Percent

1 Percent of GNP]

235. Personal consumption expendferes, Q
" a /

v-'v-*/

0
6020-

268. State and local government ptrchases
of goods and services, Q

1 "K

265. Federal Government purchases of goods and services, Q

A

5-

r

^ 2 4 7 . Change in business inventories, Q

0-

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

80-1

70-

1959

60

61

62

63

64

65

66

67

68

69

70

71

72

73

74

75

76

77

78

79

80

81

82

83

84

85

1986

Current data for these series are shown on page B3.

BCI)

NOVEMBER 1984



47

OTHER IMPORTANT ECONOMIC MEASURES
PRICES, WAGES, AND PRODUCTIVITY

B

Chart Bl. Price Movements
Nov

Mar.

P

Jan. July
P T

I

JuIv
P

Nov
T

Jan. J u l y

Nov

P

T

July

Nov

P

T

Percent change at annual rate

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

311c. Fixed-weighted price index, gross business product (1-4) span)

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

A

J

333c. Capital equipment
W

-

Z

^

-

'

:

V

n

334c. Finished consumer goods

1972

73

74

75

76

77

78

79

80

81

82

83

1984

1972

73

74

75

76

77

78

79

80

81

82

83

1984

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

48



NOVEMBER 1984

IM:I>

OTHER IMPORTANT ECONOMIC WtASURES

B

PRICES, WAGES, AND PRODUCTIVITY—Continued

Chart Bl. Price Movements—Continued
Nov

War

P

p i

T

Consumer prices-

Percent change at annual rate
320c, flu items (6-month span)
.. ,

—

»—

322c. Food (6-month span) f
J*

-

/ v A ^

V

Chart B2. Wages and Productivity

'Adjusted for overtime (in manufacturing only) and interindustry employment shifts and seasonality.
Current data for these series are shown on pages 84, 67, and 88.


http://fraser.stlouisfed.org/
B C I ) NOVEMBER 1984
Federal Reserve Bank of St. Louis

^

\

a

a
""

Hoi

—

m

OTHER IMPORTANT ECONOMIC MEASURES

B

PRICES, WAGES, AND PRODUCTIVITY—Continued

Chart B2. Wages and Productivity—Continued
nr.

Fe

Dei

Wages—Con. |

Nov.

firm

Mai

P

j a n July

F

p

July

Nov

p

r

F

I Percent change]

6-month spans (am. rate)

Change in average hourly earnings of production
workers, private nonfarm AtAtfArtty1—j
ij { . {
340c. Current-dolar earnings
1-month spans2

J •
vr

)'

f r

,ii! {

rvh

y

,

•

6-month spans (am. rate)

i i",; r
"
1 i

J/U. Uutput per hour, al |tersorii,
tasiness

sec,or'

!

W l / P V W f i

Pi| f ' r^Amf

Change in average hourly compensation, al employees,
nonfarm busness sector, Q—

p™ 3 ' 6

it

"Irfir
"i
>-r

'

1

!
!

i

f

i- --•

1959

60

61

62

63

64

65

66

67

68

<

69

W

>

70

71

72

1

1

(Percent change!

J
-

m

1

Q

4

1 \r

^
' 8

11

370c. Change in output per hotr, private bushess sector, Q

>

•

73

'
74

75

76

«

U

- ^
77

78

L

t
79

80

81

82

83

84

85

1986

'Adjusted for overtime (in manufacturing only) and interindustry employment shifts and seasonality. 'One-month percent changes have been multiplied by a constant (12) to make them comparable
with the annualized 6 - m o n t h changes. See page 87 for actual 1-month percent changes.
Current data for these series are shown on pages 87 and 88.

50



NOVEMBER 1984

B C I )

M
i
r

Jan. July

I

F

T

July

Nov

P

T

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

m
453. Both sexes 16-19 years of age

448. Number "employed part-tme tor economc
reasons (mions) !
1959

60

61

62

63

64

65

Current data for these series are shown on page 89.

LTD)

NOVEMBER 1984



66

67

68

69

70

71

72

73

74

75

76

77

78

79

80

81

82

83

84

85

1986

OTHER IMPORTANT ECONOMIC MEASURES
D l

GOVERNMENT ACTIVITIES

Chart Dl. Receipts and Expenditures
A p r . Feb
P

Dec.

Nov

Nov.

Mar.

P

T

P

T

T

Jan. July
P

T

July

Nov.

P

T

700 - |
600 500
400

and local government receipts, Q

300-

200'

512. State aid local government expentftures, Q

510. State and local government sirpta or deficit, Q

1959

60

61

62

63

64

65

66

67

68

69

70

71

72

73

74

75

76

77

78

79

80

81

82

83

84

85

1986

Current data for these series are shown on page 90.

52



NOVEMBER 1984

IM:I»

OTHER IMPORTANT ECONOMIC MEASURES

D

GOVERNMENT ACTIVITIES—Continued

Chart D2. Defense Indicators
Apr.

Feb.

P

T

Jan. J u l y

July

Nov.

30->

262218-

14-

10-

20-<
181614-

1210-

4180160140120100-

8060121110987654-

3-

2-

1959

60

Current data

ltd)

61

62

63

64

65

66

67

68

69

70

71

72

73

74

75

76

77

78

79

80

81

82

83

84

85

1986

for these series ere shown on page 90.

 NOVEMBER 1 9 8 4


53

OTHER IMPORTANT ECONOMIC MEASURES
[ D

J

GOVERNMENT ACTIVITIES—Continued

Chart D2. Defense Indicators—Continued
Apr

ii;!

rh11

,

Nov

Mot

Jan. j u i y
F

T

Ju• y

Nov

P

T

160 -

| Intermediate and Final Measures of Defense Activity]

140-

557. Output of defense and space equipment (index: 1967=100)

120100-

8026.
22.

10

160-j

140120100'

60-

24-i
20-

1959

6 0

61

62

63

64

65

66

67

68

69

70

71

72

73

74

75

76

77

78

79

80

81

82

83

84

85

1986

Current data for these series are shown on page 91.

54




NOVEMBER 1984

IICI)

OTHER IMPORTANT ECONOMIC MEASURES

Ill
D

I

GOVERNMENT ACTIVITIES—Continued

Chart D2. Defense Indicators—Continued
Api

P I

D«.

fell

I'

Yi»

Not.

I

'

Mot

P

J

Jan July

P T

July

Nov

T

P

I Intermediate and Final Measures of Defense Activity—ConTj
570. Employment h defense products industries (mXons)

1959

60

61

62

63

64

65

Current data for these series are shown on page 91.

NOVEMBER 1984



66

67

68

69

70

71

72

73

74

75

76

77

78

79

80

81

82

83

84

85

1986

OTHER IMPORTANT ECONOMIC MEASURES
E

I

U.S. INTERNATIONAL TRANSACTIONS—Continued

Chart El. Merchandise Trade
Apr.

Feb

Dec.

Nov.

P

T

P

T

Mar.

Nov

Jan. I n l y

T

P

P

T

Juiy

Nov

P

T

242016-

13 i
4
30262213- .
1410-

908.0-

7.06.0-

5.0-

3.0-

2.0-

1.00.8-

0.60.40.2-

1959

60

61

62

63

64

65

66

67

68

69

70

71

72

73

74

75

76

77

78

79

80

81

82

83

84

85

1985

Currant data for these series are shown on page 92.

Digitized 56 FRASER
for


NOVEMBER 1984

ITCII

OTHER IMPORTANT ECONOMIC MEASURES
E

I

U.S. INTERNATIONAL TRANSACTIONS—Continued

Chart E2. Goods and Services Movements
Apr.

Feb.

P

T

J a n . July
P

July

Nov.

T

P

T

80

81

Goods and services—

1959

60

61

62

63

64

65

66

67

68

69

70

71

72

73

74

75

76

77

78

79

82

83

84

85

1985

Currant data for these series are shown on page 92.

57
NOVEMBER 1984




ITCII

OTHER IMPORTANT ECONOMIC MEASURES

F_

INTERNATIONAL COMPARISONS

Chart Fl. Industrial Production
Apr

Feb

Dec.

Nov

Nov

Ma i

P

T

P

T

P

I

Jan. luiy
P

T

July

Nov.

P

T

Under 1967=1001
280-

Industrial production

260240220 200180160-

-AZ

a

140120-

l£L UitCd RngdOffl

47. United States '

80/

^

728. Japan
60

725. WesUiermany

1959

60

61

62

63

64

65

66

67

68

69

70

71

72

73

74

75

76

77

78

79

80

81

82

83

84

85

1986

Current data for these series are shown on page 94.

58



NOVEMBER 1984

BCI)

OTHER IMPORTANT ECONOMIC MEASURES
INTERNATIONAL COMPARISONS—Continued
Chart F3. Stock Prices

Chart F2. Consumer Prices
Nov.

1972

T

73

74

July

Nov.

Nov

P

P

T

p

75

76

77

78

79

1

80

81

Jao. J u l y

Mar

T

Jan J u l y

Mar

P

82

83

1984

1972

73

74

P

75

76

77

78

79

July

T

80

81

Nov

p

T

82

83

1984

Current data for these series are shown on pages 99 and 96.

ltd)

NOVEMBER 1 9 8 4




59

CYCLICAL INDICATORS
COMPOSITE INDEXES AND THEIR COMPONENTS

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

(1967 = 100)

Year
and
month

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

(1967 = 100)

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

(1967 = 100)

COMPOSITE INDEXES

940. Ratio,
coincident
index to
tagging index

(1967 = 100)

Leading indicator subgroups
9 H . Capital
investment
commitments
(series 12, 20,
29)

(1967 = 100)

915. Inventory
investment
and purchasing
(series 8, 32, 36,
99)

(1967 = 100)

916. Profitability (series
19, 26, 80)

(1967 = 100)

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

(1967 = 100)

1982
'135.1
135.7
134.7

138.4
139.9
139.2

126.1
125.3
125.1

109.8
111.7
111.3

104.2
104.2
104.0

96.7
96.5
96.6

94.5
93.2
92.6

123.3
122.1
122.2

April
May
June

136.0
136.2
135.5

138.0
138.8
137.3

125.9
125.1
124.8

109.6
111.0
110.0

104.9
104.2
102.9

96.4
97.1
97.6

93.1
93.0
92.4

123.0
122.4
122.2

July
August
September

136.2
136.1
137.5

136.4
135.2
134.5

124.3
122.3
121.4

109.7
110.5
110.8

103.9
102.9
103.4

97.8
98.1
98.3

92.6
92.4
93.9

122.5
124.5
124.2

October
November
December

138.6
139.4
140.9

132.9
132.7
132.6

120.2
118.2
116.7

110.6
112.3
113.6

104.7
105.4
107.0

98.0
97.0
96.4

95.0
95.5
96.4

122.7
122.5
122.5

January
February
March

145.2
147.4
150.2

134.3
133.5
134.6

115.7
115.8
114.4

116.1
115.3
117.7

106.3
107.0
107.2

97.7
99.2
101.3

97.6
98.6
100.5

127.2
129.1
129.8

April
May
June

152.5
154.4
157.3

135.6
137.9
139.8

113.5
111.0
109.8

119.5
124.2
127.3

107.7
109.3
110.3

101.9
102.3
102.5

102.5
104.6
105.7

129.7
129.0
131.5

July
August
September

158.2
158.9
160.0

140.7
140.8
143.3

109.7
110.3
109.7

128.3
127.7
130.6

109.4
108.9
109.3

103.1
104.4
104.7

106.5
107.0
107.9

132.4
132.0
130.2

October
November
December

162.4
162.5
163.4

145.0
145.9
147.5

109.6
110.0
110.9

132.3
132.6
133.0

110.4
rllO.l
rl09.3

105.4
105.2
106.1

108.4
108.6
108.8

131.1
132.0
rl33.9

164.5
rl67.0
rl67.4

149.5
150.6
151.0

109.6
111.4
113.0

0)136.4
135.2
133.6

110.3
10)112.1
111.0

106.1
106.9
107.6

109.2
108.4
109.3

133.5
135.3
136.7

168.2
|H>rl68.6
166.9

152.6
153.9
155.5

114.6
116.3
117.4

133.2
132.3
132.5

111.0
111.0
110.9

107.9
E)107.9
106.0

110.1
110.8
rll0.4

rl37.3
rl38.6
(H)rl38.7

July
August
September

rl63.9
164.0
165.0

155.7
rl55.8
155.8

118.8
120.0
120.9

131.1
129.8
rl28.9

rl09.5
rllO.O
rll0.2

104.7
rl03.5
rl03.7

rllO.l
0)rlll.5
(NA)

rl37.7
rl36.5
rl37.6

October
November
December

"163.8

(R)3156.6

B>4121.7

pl28.7

pl09.8

pl03.2

January
February
March

1983

1984
January
February
March
April
May
June

(NA)

NOTE: Series are seasonally adjusted except for those, indicated by
that appear to contain no seasonal movement. Current high values are indicated by 0 ) ; for series that move counter to movements
in general business activity, current low values are indicated by 0 ) . Series numbers are for identification only and do not reflect series relationships or order. Complete titles and sources are listed at the back
of this issue. The " r " indicates revised: "p", preliminary; "e", estimated; "a", anticipated; and "NA", not available.
Graphs of these series are shown on pages 10 and 11.
'Includes
"Excludes
Excludes
''Excludes

a substitute v a l u e for series 1. See "New Features and Changes for This Issue" on p a g e iii of the March 1982
series 36 and 1 1 1 , for w h i c h data are not a v a i l a b l e .
series 5 7 , for which d a t a are not a v a i l a b l e .
series 77 and 9 5 , for which data are not a v a i l a b l e .

60




issue.

NOVEMBER 1 9 8 4

K i ] | )

CYCLICAL INDICATORS
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued

B

MAJOR ECONOMIC
PROCESS

EMPLOYMENT AND UNEMPLOYMENT

Minor Economic
Process
Timing Class

Year
and
month

l , L, L

L, C, L

1. Average workweek
of production workers,
manufacturing

L, C, L

21. Average weekly
overtime hours,
production workers,
manufacturing

(Hours)

L, Lg, U

5. Average weekly
initial claims, State
unemployment
insurance 1

60. Ratio, help-wanted
advertising to persons
unemployed

(Ratio)

(Thous.)

(Hours)

Comprehensive
Employment

Job Vacancies

Marginal Employment Adjustments

U, C, C

L, Lg, U

46. Index of helpwanted advertising
in newspapers

48. Employee-hours
in nonagricultural
establishments

(1967 = 100)

(Ann, rate,
bil. hours)

1982
January
February
March

37.4
39.5
39.1

2.3
2.4
2.3

563
514
566

0.336
0.316
0.288

106
103
96

164.24
168.94
168.32

April
May
June

39.0
39.1
39.1

2.4
2.3
2.3

566
585
551

0.254
0.250
0.241

88
87
85

167.52
167.63
166.55

July
August
September

39.1
39.0
38.8

2.3
2.3
2.3

533
605
653

0.227
0.213
0.193

83
78
73

165.91
165.52
165.14

October
November
December

38.9
39.0
39.1

2.3
2.3
2.3

651
616
531

0.196
0.195
0.208

76
78
83

164.36
163.50
164.61

January
February
March

39.5
39.1
39.7

2.4
2.4
2.6

507
478
479

0.214
0.215
0.216

83
83
83

165.75
164.04
165.06

April
May
June

40.1
39.9
40.1

2.9
2.7
2.9

470
453
406

0.212
0.232
0.245

81
87
92

166.67
167.07
167.47

July
August
September

40.2
40.3
40.7

3.0
3.0
3.2

380
408
387

0.281
0.272
0.282

100
97
98

168.29
168.25
170.68

October
November
December

40.6
40.6
40.6

3.3
3.3
3.4

386
381
378

0.334
0.360
0.392

111
114
121

171.12
170.69
172.73

40.9
40.9
40.7

3.5
3.5
3.5

364
0)345
348

0.406
0.436
0.421

123
129
124

174.01
175.02
174.40

0)41.1
40.6
40.6

0)3.7
3.3
3.3

360
348
350

0.418
0.437
0)0.491

124
125
134

176.89
176.31
176.99

July
August
September

40.5
HO. 5
f40.6

3.3
r3.3
3.3

365
358
368

0.481
0.447
0.454

0)138
128
129

177.06
r177.49
0)rl78.67

October
November
December

p40.5

p3.3

405

p0.480

pl36

pl78.36

1983

1984
January
February
March
April
May
June

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.

61 NOVEMBER 1984



ItCII

CYCLICAL INDICATORS
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued

B

MAJOR ECONOMIC
PROCESS

EMPLOYMENT AND UNEMPLOYMENT—Continued

Minor Economic
Process
Timing Class

Comprehensive Unemployment

Comprehensive Employment-Continued

C, c, C

L, C, U

U. Lg, U

42. Persons
engaged in nonagricultural
activities, labor
force survey

41. Employees
on nonagricultural payrolls,
establishment
survey

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

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

(Thous.)

Year
and
month

U, C, C

(Thous.)

(Thous.)

(Percent)

L, Lg, U

L, Lg, U

Lg. Lg, Lg

Lg, Lg, Lg

37. Number of
persons unemployed, labor
force survey

43. Unemployment rate,
total

45. Average
weekly insured unemployment rate,
State programs'

91. Avenue
duration of
unemployment

44. Unemployment rate,
persons unemployed 15
weeks and over

(Thous.)

(Percent)

(Percent)

(Weeks)

(Percent)

L, Lg, U

1982
January
February
March

96,301
96,419
96,374

90,402
90,409
90,301

24,691
24,667
24,524

57.46
57.48
57.38

9,393
9,693
9,910

8.6
8.9
9.0

4.1
4.1
4.3

13.4
14.1
14.0

2.2
2.5
2.7

April
May
June

96,223
96,726
96,314

90,059
90,006
89,755

24,299
24,165
23,920

57.23
57.51
57.15

10,303
10,363
10,480

9.4
9.4
9.5

4.5
4.6
4.6

14.4
14.8
16.0

2.8
2.9
3.1

July
August
September

96,086
96,183
96,046

89,412
89,208
89,103

23,716
23,528
23,376

57.01
56.99
56.84

10,896
10,910
11,267

9.9
9.9
10.2

4.6
4.7
4.9

15.4
16.1
16.6

3.3
3.4
3.5

October
November
December

95,703
95,537
95,550

88,820
88,674
88,646

23,101
22,930
22,873

56.63
56.52
56.44

11,544
11,887
11,894

10.4
10.7
10.7

5.1
5.1
4.8

17.2
17.4
18.4

3.8
4.0
4.2

January
February
March

95,734
95,757
95,930

88,827
88,728
88,945

22,959
22,827
22,832

56.48
56.45
56.48

11,523
11,516
11,419

10.4
10.4
10.3

4.5
4.5
4.4

19.4
19.1
19.2

4.2
4.2
4.1

April
May •
June

96,214
96,388
97,264

89,259
89,578
89,927

22,949
23,087
23,241

56.60
56.63
57.14

11,369
11,188
11,162

10.2
10.1
10.0

4.4
4.1
3.9

19.2
20.2
21.4

4.0
4.1
4.0

July
August
Septembef

97,726
98,035
98,568

90,274
89,918
91,018

23,414
23,532
23,669

57.35
57.45
57.62

10,600
10,633
10,353

9.5
9.5
9.2

3.7
3.5
3.3

21.3
19.9
20.2

3.9
3.6
3.5

October
November
December

98,730
99,349
99,585

91,345
91,688
92,026

23,895
24,058
24,198

57.61
57.92
58.05

9,896
9,429
9,195

8.8
8.4
8.2

3.2
3.2
3.1

20.1
20.2
19.6

3.3
3.1
3.0

January
February
March

99,918
100,496
100,859

92,391
92,846
93,058

24,383
24,577
24,595

58.06
58.41
58.49

9,026
8,801
8,772

8.0
7.8
7.8

3.0
2.9
2.9

20.5
18.8
18.8

2.9
2.6
2.5

April
May
June

101,009
101,899
102,344

93,449
93,786
94,135

24,760
24,851
24,974

58.59
59.04
08)59 . 24

8,843
8,514
0)8,130

7.8
7.5
0)7.1

2.8
2.7
2.7

18.5

2.5

18.4
18.6

2.5
2.3

July
August
September

102,050
101,744
101,923

94,350
r94,523
r94,754

25,059
E>r25,098
r25,005

58.99
58.70
58.79

8,543
8,526
8,460

7.5
7.5
7.4

2.7
0)2.6
2.7

18.1
17.3
17.1

2.4
2.3
2.3

October
November
December

(H)102,472

i>p95,195

p25,071

58.93

8,431

7.4

2.7

1)16.5

(H)2.2

1983

1984

See note on page 60.
Graphs of these series are shown on p a p s 14, IS, 17, and 18.

'Data exclude Puerto Rico, which is included in figures published b y the source agency.

62



NOVEMBER 1984

I t C I I

CYCLICAL INDICATORS
B

CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued

MAJOR ECONOMIC
PROCESS

PRODUCTION AND INCOME

Minor Economic
Process
Timing Class

Year
and
month

Industrial Production

Comprehensive Output and Income

c,

C, C

50. Gross national product
in 1972 dollars

52. Constant
(1972) dollars

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

(Ann. rate,
bil. dol.)

(Ann. rate,
bil. dol.)

Personal income
223. Current
dollars

(Ann. rate,
bil. dol.)

c, c, c

C, C, C

(Ann. rate,
bil. dol.)

c, c, c

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

c, C, C

47. Index of
industrial
production,
total

(1967 = 100)

c, c, c

C, L, L

73. Index of
industrial
production,
durable manufactures

74. Index of
industrial
production,
nondurable
manufactures

(1967=100)

(1967=100)

c, c, c

49. Value of
goods output
in 1972 dollars

(Ann. rate,
bil. dol.)

-

1982
January
February
March

1,483.5

2,521.5
2,542.6
2,545.2

1 246.4
1 256.2
1 255.0

1,072.0
1 080.7
1 077.9

222 9
223 7
222 7

140.7
142.9
141.7

127.1
129.3
128.2

155 1
157 8
157 3

669 0

April
May
June

1,480.5

2,561.2
2,570.7
2,572.7

1 260.4
1 258.9
1 248.3

1 081.2
1 079.5
1 070.1

221 8
220 2
217 1

140:2
139.2
138.7

126.7
126.1
125.5

156 1
155 0
155 3

662 0

1,477.1

2,591.4
2,591.5
2,599.8

1 251.9
1 248.9
1 249.3

1 067.8
1 064.9
1 064.2

214.8
212 7
211.0

138.8
138.4
137.3

125.9
124.9
123.5

155 7
156 9
156 7

657 9

1,478.8

2,617.0
2,645.0
2,656.3

1 249.2
1 261.9
1 267.3

1 060.8
1 070.3
1 074.8

208 3
207 3
208.4

135.7
134.9
135.2

120.3
119.3
119.9

156 2
155 3
155 6

653 6

1,491.0

2,659.7
2,656.8
2,671.8

1 264.1
1 260.9
1 265.7

1 075.5
1 071.1
1 074.8

210 5
209 4
210.2

137.4
138.1
140.0

122.5
123.9
126.3

157 4
159 0
160.7

658 9

April
May
June

1,524.8

2,693.2
2,715.8
2,734.4

1 268.0
1 275.6
1 282.6

1 077.6
1 083.0
1 091.3

210 6
210 9
212 2

142.6
144.4
146.4

129.1
131.0
133.2

163.3
165.4
167.8

681 6

July
August
September

1,550.2

2,744.9
2,759.9
2,785.0

1 283.3
1 284.9
1 291.1

1 094.2
1 096.8
1 104.1

213 3
213 6
216.0

149.7
151.8
153.8

136.8
138.8
141.6

170 6
172 9
174 6

698

October
November
December

1,572.7

2,814.9
2,834.2
2,860.4

1 306.2
1 312.1
1 321.2

1 119.1
1 121.9
1 130.8

217 1
218 2
219 8

155.0
155.3
156.2

142.8
143.6
145.0

175 6
174 8
173 9

715 5

January
February
March

1,610.9

2,897.4
2,923.5
2,940.6

1 332.8
1 341.7
1 344.0

1 144.1
1 153.1
1 155.3

221 9
223 1
222 9

158.5
160.0
160.8

148.6
150.5
151.4

175.2
177.2
177 6

744 9

April
May
June

1,638.8

2,968.5
2,978.8
3,006.5

1 354.2
1 358.9
1 371.6

1 165.0
1 169.7
1 181.8

224 7
224 1
225 /

162.1
162.8
164.4

152.6
153.3
154.9

179 1
179.9
181 3

767 4

E>rl,646.5

r3,027.0
r3,045.4
r3,067.9

r l 373.4
r l 373.0
r l ,379.5

r l ,184.2
r l ,183.7
r l 191.1

IH)r225.8
r225.0

225 7

165.9
[H)166.1
rl65.2

rl57.2
E>rl58.1
rl57.2

(H>rl81.8
rl81 /
rl80.8

0>p3,O85.5

B ) p l ,384.9

0>pl,195.0

p224.6

P165.2

pl57.3

pl81.4

July
August
September
October
November
December

•

•

•

1983

...

February
March

.
i

1984

July
August
September
October
November
December

0>r767

5

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

ItCII NOVEMBER 1984



63

CYCLICAL INDICATORS
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued

B

MAJOR ECONOMIC
PROCESS

m

Minor Economic
Process

L, C, U

83. Rate of
capacity
utilization,
manufacturing
(BEA)

(Percent)

82. Rate of
capacity
utilization,
manufacturing
(FRB)

(Percent)

CONSUMPTION, TRADE, ORDERS, AND DELIVERIES

Orders and Deliveries

Capacity Utilization

Timing Class

Year
and
month

m

PRODUCTION AND INCOME-Continued

L, C, U

84. Rate of
capacity
utilization,
materials

(Percent)

L, I, L

L, l , l

Value of manufacturers' new
orders, durable goods industries
6. Current
dollars

(Bil. dol.)

7. Constant
(1972) dollars

(Bil. dol.)

L, L, L

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

(Bil. dol.)

L, I, L

l , Lg, I)

L, L, L

25. Change in
unfilled orders,
durable goods
industries

96. Manufacturers' unfilled
orders, durable
goods industries

32. Vendor
performance,
companies receiving slower
deliveries ®

(Bil. dol.)

(Bil. do.)

(Percent
reporting)

1982

72^9

73.0

76.13
77.37
78.60

33.29
33.83
34.31

29.04
29.50
30.48

-0.53
-1.34
-0.24

308,24
306.89
306.65

32
36
35

7i.*6

70^7

76.91
75.83
74.92

33.50
32.89
32.42

29.40
30.48
29.94

-1.04
-3.54
-3.64

305.61
302.08
298.44

31
30
38

71.0

69! 4

75.23
72.05
73.23

32.51
31.12
31.52

30.04
29.23
29.75

-3.24
-4.49
-3.22

295.20
290,71
287,49

37
40
40

69.0

67.1

71.55
71.54
76.61

30.76
30.68
32.79

28.25
28.42
28.70

-1.64
-1.64
2.81

285,84
284,21
287,01

44
40
38

70.7

7o!i

81.84
77.52
79.80

35.06
32.96
33.87

31.42
31.64
31.70

3.83
-0.38
0.15

290,85
290,47
290,61

41
42
50

73.6

January
February
March

7^5

82.86
83.29
89.46

35.16
35.19
37.64

32.02
33.56
33.86

2.74
1.28
3.87

293,36
294.63
298.50

52
52
52

7714

77! 5

87.88
88.82
91.51

36.91
37.23
38.35

34.60
35.20
35.31

2.80
2.09
2.55

301,30
303.39
305,94

52
61
60

78.9

79.6

94.78
97.99
98.44

39.72
40.95
41.09

36.09
36.60
37.49

5.60
5.68
2.09

311.53
317.21
319.30

64
59
67

80.7

81.6

99.44
102.34
0)105.18

41.50
42.52
0)43.43

©38.59
38.38
37.49

4.15
6.06
0)8.19

323.46
329.51
337.70

63
68
[H)72

81.8

82.7

98.32
102.26
99.17

40.49
42.13
r40.76

37.28
38.44
r36.64

2.62
4.31
0.13

340.32
344.63
344.76

71
70
66

0)82.6

(H>r82.9

101.70
102.02
r98.68

41.84
41.86
r40.54

37.86
37.90
r36.68

3.30
0.98
r-0.27

348.06
0)349.05
r348.78

60
54
58

P94.65

p38.97

p36.34

p-4.68

p344.10

52

72

April
May
June

' n

July
August
September
October
November
December

69

68

1983
Junuary
February
March

70

April
May . .
June

73

July
August
September
October
November
December

76

18)77

1984
January
February
March
April .
May
June .
July
August
September

(NA)

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

64




NOVEMBER 1984

ItCII

CYCLICAL INDICATORS
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued

B

MAJOR ECONOMIC
PROCESS
Minor Economic
Process
Timing Class

C, C, C

C, C, C

56. Current
dollars

(Mil. dol.)

57. Constant
(1972) dollars

(Mil. dol.)

C, L, C

75. Index of industrial production, consumer
goods

(1967=100)

C, L, U

U, L, U

Sales of retail stores
54. Current
dollars

(Mil. dol.)

FIXED CAPITAL
INVESTMENT

Formation of Business Enterprises

Consumption and Trade

Manufacturing and trade sales
Year
and
month

• 1

•ill

CONSUMPTION. TRADE, ORDERS, AND DELIVERIES—Continued

59. Constant
(1972) dollars

(Mil. dol.)

L, C, C

55. Personal
consumption
expenditures,
automobiles

L, L, L

58. Index of
consumer,
sentiment
©

(Ann. rate,
bil. dol.)

(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)

1982
January
February
March

341,593
347,076
346,824

151,294
154,569
154,775

139.6
141.8
141.5

86,468
88,846
87,882

43,539
44,826
44,340

71.4

71.0
66.5
62.0

113.2
115.6
113.5

43,330
47,234
46,899

April
May
June

345,177
350,022
345,717

153,447
155,152
152,840

142.1
143.6
144.8

88,268
89,794
88,048

44,557
45,145
43,870

70.4

65.5
67.5
65.7

115.2
114.7
112.1

46,876
46,995
45,936

July
August
September

345,663
341,974
342,109

152,873
152,012
151,628

145.8
144.1
143.4

89,252
89,251
90,019

44,382
44,381
44,719

73*4

65.4
65.4
69.3

112.4
112.6
110.4

44,525
46,981
45,552

October
November
December

336,574
339,344
338,065

149,396
151,182
150,684

142.2
141.3
142.0

90,511
92,747
91,861

44,785
45,937
45,566

79 . ' i

73.4
72.1
71.9

111.5
112.9
114.4

45,530
48,474
0)57,507

January
February
March

345,890
342,742
348,227

154,406
153,118
155,385

143.6
143.4
144.3

92,526
92,211
93,804

45,782
45,672
46,323

78.Q

70.4
74.6
80.8

111.4
113.3
112.7

49,999
48,296
48,032

April
May
June

351,012
360,488
368,971

155,865
159,952
163,600

147.7
150.4
152.4

95,125
97,239
98,638

46,767
47,666
48,328

88] i

89.1
93.3
92.2

112.0
114.8
116.4

48,903
50,211
50,992

July
August
September

370,181
373,283
379,229

162,835
163,471
165,070

154.8
156.3
157.3

98,832
98,277
99,537

48,258
47,847
48,366

90.2

93.9
90.9
89.9

115.2
114.4
115.8

48,601
52,828
50,445

October
November
December

382,457
386,564
395,682

166,410
168,444
171,812

156.9
156.1
157.7

100,923
101,896
102,438

48,968
49,464
49,607

96.'3

89.3
91.1
94.2

118.0
117.8
116.3

50,441
51,642
51,557

401,133
398,815
401,905

173,478
172,113
172,420

159.5
159.4
160.2

. 106,602
105,482
103,873

51,300
50,810
49,915

ioi!9

100.1
97.4
0)101.0

115.9
119.1
117.6

53,044
53,591
53,424

405,880
412,725
0)414,124

174,134
177,407
0)178,417

161.4
161.7
163.0

107,505
108,237
0)109,322

51,660
52,162
0)52,813

|H)104] 6

96.1
98.1
95.5

118.5
115.8
116.6

53,933
51,166
54,729

July
August
September

411,410
r4U,176
p408,931

rl76,515
rl76,762
pl75,320

0)rl63.8
t-162.5
161.6

107,442
rl06,602
rl07,871

51,655
r51,128
r51,613

96.6
99.1
100.9

rll5.5
rll8.2
rll9.6

(NA)

rl02.1

October
November
December

(NA)

(NA)

pl61.9

pl07,717

p51,343

96.3

|g)pll9.9

•

1983

1984
January
February
March
April
May
June

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

ItCII NOVEMBER 1 9 8 4



65

CYCLICAL INDICATORS

B

CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued

MAJOR ECONOMIC
PROCESS

FIXED CAPITAL INVESTMENT—Continued

Minor Economic
Process

Business Investment Commitments

Timing Class

L, L, L

L, L, L

Contracts and orders for plant
and equipment
Year
and
month

10. Current
dollars

(Bil. dol.)

20. Constant
(1972) dollars

(Bil. dol.)

L, L, L

Value of manufacturers' new orders,
capital goods industries, nondefense
24. Current
dollars

(Bil. dol.)

U, Lg, U

L, C, U

I, L, L

9. Construction contracts for commercial and industrial buildings 1

27. Constant
(1972) dollars

Square feet of
floor space

(Bil. dol.)

(Millions)

Square meters of
floor space 2

(Millions)

C, Lg, Lg

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

9/. Backlog of
capital appropriations, 1,000
manufacturing
corporations

(Bil. dol.)

(Bil. dol.)

1982

11.00
11.61
11.30

58.18
63.29
61.15

5.40
5.88
5.68

25.

22.45
20.13
19.62

12.07
10.16
9.64

58.93
53.71
64.87

5.47
4.99
6.03

20!02

11.63
11.06
11.96

20.33
18.62
20.28

10.13
9.30
10.21

57.80
59.78
55.95

5.37
5.55
5.20

18*44

23.23
23.70
24.47

11.71
11.58
12.58

19.93
20.01
19.84

10.29
9.99
10.60

54.65
50.69
49.55

5.08
4.71
4.60

2 l ! «

January
February
March

23.26
24.07
23.83

11.62
11.77
12.59

20.48
19.17
20.13

10.44
9.67

11.01

66.89
57.77
52.65

6.21
5.37
4.89

20.07

April
May
June

25.77
28.31
27.24

13.14
13.84
14.07

21.96
21.85
23.83

11.52
11.09
12.61

54.32
61.20
65.40

5.05
5.69
6.08

20.JI7

July
August
September

25.59
27.60
29.09

12.86
13.62
15.15

22.06
22.89
25.30

11.36
11.62
13.54

61.78
65.26
69.20

5.74
6.06
6.43

22.78

r-29.50
28.86
27.99

rl4.71
14.05
13.76

25.50
24.68
24.89

13.01
12.28
12.45

71.35
73.65
66.89

6.63
6.84
6.21

24.26

28.85
30.66
30.85

14.57
15.41
15.71

25.09
27.02
26.86

13.00
13.89
14.06

77.59
62.61
73.63

7.21
5.82
6.84

2 6 ! 82

29.55
0)34.47
31.80

14.61
H)17.09
15.97

25.88

53)28.96
28.03

13.11
(0)14.82
14.41

80.03
10)84.39
74.04

7.43
S)7.84
6.88

[Hjr37! IS

32.66
31.14
r31.92

15.41
15.45
rl5.77

27.65
26.50
r27.84

13.33
13.53
rl4.08

79.71
84.26
75.12

7.41
7.83
6.98

p28.72

p24.78

pl2.56

78.08

7.25

January
February
March

26.75
29.54
26.15

13.10
14.60
13.11

21.85
22.59
21.91

April
May
June

25.88
23.81
23.10

13.54
11.74
11.13

July
August
September

23.81
22.70
24.34

October
November
December

ia

90.20

82.88

74. i s

70.76

1983

October
November
December

•

69.60

70.58

72.57

73.50

1984
January
February
March
April
May

June
July

August
September
Octobcr
November

P29.79

pl4.63

78.65

r92.52

|H)p96.31

December
See note on page 60.
Graphs of these series are shown on pages 12, 23, and 24.

'This is a copyrighted series used by permission; it may not be reproduced without written permission from McGraw-Hill Information Systems
Company, F.W. Dodge Division.
"Converted to metric units by the Bureau of Economic Analysis.

66




NOVEMBER 1984

CYCLICAL INDICATORS
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued

B

MAJOR ECONOMIC
PROCESS

FIXED CAPITAL INVESTMENT—Continued

Minor Economic
Process
Timing Class

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.)

Year
and
month

Residential Construction
Commitments and Investment

Business Investment Expenditures

(Ann. rate,
bil. dol.)

(1967 = 100)

C, Lg, C

Lg, Lg, Lg

C, Lg, C

Nonresidential 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.)

1982
January
February
March

293^46

335.85
345.85
343.90

172.2
171.6
169.0

175.2

55^4

119^8

853
880
920

64.1
65.3
72.0

36^2

April
May
June

288.04

329.13
335.67
329.55

164.9
159.9
156.7

166! 9

53! 7

113! 2

935
1,020
913

71.7
77.0
73.7

37! 6

July
August
September

279161

326.30
316.14
318.53

154.9
153.9
150.5

163! 9

52^4

ni! 5

1,173
1,026
1,148

84.3
74.8
84.2

36! 8

October
November
December

269.80

310.36
309.83
307.12

147.1
146.4
148.1

161.5

51^9

109.7

1,156
1,355
1,296

92.8
99.3
109.1

40! 8

January
February
March

26l!7i

307.65
298.73
310.69

146.6
142.7
143.7

16 i ] 6

49^6

112! 5

1,632
1,706
1,592

115.6
117.6
120.5

46] 2

April
May
June

26l!16

308.89
302.96
327.25

146.9
147.7
150.2

I65! 3

48! i

117

1,549
1,779
1,743

125.7
134.1
142.5

53! 4

July
August
September

27O!O5

319.56
320.14
331.57

153.3
156.6
158.7

172.6

48.3

124.3

1,793
1,873
1,679

141.5
135.0
124.4

57! 2

October
November
December

283.96

325.11
339.42
354.91

161.3
164.1
167.3

184! 5

5K4

133.1

1,672
1,730
1,694

133.3
133.2
129.4

57!8

293!is

343.03
345.94
362.47

170.7
171.9
172.1

193! 3

54! i

139! 2

1,980
0)2,262
1,662

145.3
0)153.6
139.5

60! 6

(H)302170

358.57
375.62
385.72

173.5
176.5
181.1

202.9

56.8

146.0

2,015
1,794
1,877

142.0
141.0
142.8

0)60.8

July
August
September

a316.22

r372.15
r377.20
|H)p401.07

rl85.5
rl87.8
rl88.0

0)r21O.5

0)r57.8

[H)rl52.7

1,754
rl,554
rl,679

126.4
121.6
116.3

r60.1

October
November
December

(NA)
a318.33

[H)pl88.5

p l , 515

114.5

1983

1984
January
February
March
April
May
June

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

I t C I I NOVEMBER 1 9 8 4



67

CYCLICAL INDICATORS
B

CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued

MAJOR ECONOMIC
PROCESS

Q

Minor Economic
Process
Timing Class

Year
and
month

INVENTORIES AND INVENTORY INVESTMENT

Inventories on Hand and on Order

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

Smoothed
data'

(Ann. rate,
bil. dol.)

(Ann. rate,
bil. dol.)

(Ann. rate,
bil. dol.)

(Bil. dol.)

Lg. Lg, Lg

Lg. Lg, Lg

Manufacturing and trade
inventories
71. Book
value

(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.)

1982
January .
February
March

-5.7

-26.80
-23.28
-5.68

-10.17
-17.89
-20.44

-28.7
-18.7
-3.0

-2.27
-2.71
-1.89

521.24
519.67
519.42

268.00
267.06
266.85

89.30
90.07
90.03

1.77
1.73
1.72

214.45
211.74
209.85

April
May
June

-i'.o

-9.73
-31.19
-5.84

-15.74
-14.22
-15.56

23.7
-52.7
13.8

-1.82
-2.08
-3.67

521.40
517.01
518.16

267.45
265.30
265.53

89.42
88.58
87.71

1.74
1.71
1.74

208.03
205.95
202.28

July
August
September

-6.4

-4.46
-24.55
-9.04

-14.71
-12.72
-12.15

2.8
-23.6
-18.3

-2.16
-2.35
-2.20

518.39
516.42
514.90

265.85
264.88
264.38

88.14
88.03
87.49

1.74
1.74
1.74

200.11
197.76
195.56

October
November
December

-24.'6

-19.56
-36.52
-19.96

-15.20
-19.71
-23.53

-19.2
-66.8
-26.2

-1.72
-1.81
-0.92

513.30
507.73
505.55

263.25
260.61
259.40

87.18
85.98
85.02

1.76
1.72
1.72

193.85
192.04
191.12

-16! 5

-13.50
3.06
-15.16

-24.34
-16.73
-9.33

-40.0
10.0
-44.1

0.08
0.97
0.69

502.21
503.04
499.37

257.82
257.60
256.06

83.84
83.63
82.34

1.67
1.68
1.65

191.19
192.16
192.85

-6!i

2.08
12.73
-2.32

-5.94
-1.73
2.02

10.7
9.3
-5.0

0.13
1.16
1.58

500.26
501.04
500.62

255.89
256.22
255.65

82.08
82.10
81.88

1.64
1.60
1.56

192.98
194.13
195.72

July
August
September

0.9

16.86
16.97
13.01

6.63
9.80
13.06

9.2
34.9
32.4

1.64
0)2.92
1.64

501.38
504.28
506.98

255.86
256.31
256.78

82.23
82.14
81.72

1.57
1.57
1.56

197.36
200.27
201.91

October
November
December

7.2

18.91
18.14
15.34

15.96
16.49
17.08

26.2
27.4
34.6

2.47
1.77
2.44

509.17
511.45
514.34

257.29
258.06
259.02

81.54
81.72
80.87

1.55
1.53
1.51

204.38
206.15
208.59

|H>3l!6

28.30
H>46.84
25.49

19.03
25.38
31.85

44.7
0)109.8
66.6

2.86
2.71
2.42

518.06
527.22
532.77

260.17
263.23
265.12

80.77
81.87
82.87

1.50
1.53
1.54

211.45
214.16
216.59

20! 3

38.32
34.76
r-11.39

0)35.21
34.87
r26.71

99.5
58.2
11.1

2.28
2.55
-0.98

541.06
545.91
546.83

267.98
270.03
270.03

84.06
85.30
86.54

1.54
1.52
1.51

218.87
221.42
220.44

r30.0

r27.48
rl8.61
P18.26

54.4
r61.8
p39.3

2.40
r-0.51
p0.46

551.37
r556.52
0)p559.79

r272.12
r274.32
0>p275.92

87.26
r88.52
0)89.17

1.54
1.55
|H)pl.57

[H) 2 2 2 . 8 5
r222.33
P222.79

(NA)

(NA)

(NA)

(NA)

(NA)

(NA)

(NA)

1983
January
February
March
April
May
June

1984
January
February
March ,
April
May
June
July
August
September
October
November
December

(NA)

rl8.76
rl4.26
pl6.51.
(NA)

See note on page 60.
Graphs of these series are shown on pages 13, 15, 26, and 27.

'This series is a weighted 4-term moving average (with weights 1,2,2,1) placed on the terminal month of the span.

68




NOVEMBER 1984 ItCII

CYCLICAL INDICATORS
B CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued

MAJOR ECONOMIC
PROCESS
Minor Economic
Process
Timing Class

Stock
Prices

Sensitive Commodity Prices

L, L, L

Year
and
month

PRICES, COSTS, AND PROFITS

Q

98. Change in
producer prices
for 28 sensitive
materials

(Percent)

U, L, L

L, L, L

L, L, L

23. Index of
spot market

99. Change in sensitive materials
prices

industrials 1
©

Monthly
data

(1967=100)

Smoothed
data 2

(Percent)

(Percent)

19. Index of
stock prices,
500 common
stocks
©

(1941-43 = 10)

Profits and Profit Margins

L, L, I

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 CCAdj 3
79. Current
dollars

80. Constant
(1972) dollars

(Ann. rate,
bil. dol.)

(Ann. rate,
bil. dol.)

(Ann. rate,
bil. dol.)

(Ann. rate,
bil. dol.)

I, l, L

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

1982
January
February
March

-0.21
-1.61
-0.62

263.4
261.0
254.5

-0.22
-1.10
-1.06

-1.06
-0.82
-0.76

117.28
114.50
110.84

104! 7

5K2

97.0

47! 6

5! 7

April
May
June

-0.62
-0.22
-0.63

247.4
245.5

232.2

-1.16
-0.32
-1.96

-0.95
-0.98
-1.00

116.31
116.35
109.70

106! 9

5l!7

98! 8

47!8

5.7

July
August
September

0.11
-1.48
0.26

237.0
236.2
239.0

0.65
-0.88
0.51

-0.84
-0.64
-0.32

109.38
109.65
122.43

107 ! o

51! 5

ioi!i

48! 7

5.7

October
November
December

-0.15
-0.26
0.90

235.5
230.4
227.4

-0.51
-0.79
0.09

-0.10
-0.28
-0.33

132.66
138.10
139.37

100! 8

48*1

96.6

46! i

5! 3

1.68
[0)2.75
2.00

232.1
241.3
248.8

1.50
0)2.58
1.93

-0.07
0.83
1.70

144.27
146.80
151.88

102! 6

48! 9

120 ! o

57! 3

5!3

April
May
June

-0.18
1.76
2.55

253.2
251.5
250.5

0.44
0.70
1.22

0)1.83
1.34
0.91

157.71
164.10
166.39

123!4 .

58! 9

141! 9

67.9

6!3

July
August
September

0.37
1.14
-0.20

256.0
265.2
267.9

0.86
1.62
0.21

0.86
1.08
1.06

166.96
162.42
167.16

142! 6

67! 9

160! 2

76.5

K i

October
November
December

0.96
1.12
0.81

273.4
279.8
282.4

1.09
1.29
0.70

0.94
0.92
0.94

0)167.65
165.23
164.36

141 ! i

66! 4

175! 5

83.0

6.9

-0.94
1.17
0.74

283.6
283.6
289.2

-0.37
0.61
0.93

0.78
0.43
0.35

166.39
157.25
157.44

0)150.6

0)71!o

184 '.7

87.5

7-.i

April
May
June

-0.54
-0.55
r-0.58

288.6
0)289.5
286.2

-0.32
-0.20
-0.65

0.40
0.27
-0.13

157.60
156.55
153.12

150.2

70.3

195.2

92.1

0)7." i

July
August
September

r-2.21
-1.40
0.88

280.1
275.6
274.0

-1.79
-1.20
0.29

-0.64
-1.05
-1.06

151.08
164.42
166.11

pl39.3

p64.5

H)pl97'.i

0)p92.3

p6.5

October
November
December

-0.84

266.4
"268.4

-1.25

-0.81

1983
January
February
March

1984
January
February
March

....'...

1

164.82
166.56

See note on page 60.
Graphs of these series are shown on pages 13, 28, and 29.
1
T h i s is a c o p y r i g h t e d s e r i e s 3 u s e d b y p e r m i s s i o n ; it m a y n o t b e r e p r o d u c e d w i t h o u t w r i t t e n p e r m i s s i o n from C o m m o d i t y R e s e a r c h B u r e a u , I n c .
2
S e e footnote 1 on page 68.
I V A , inventory valuation adjustment; CCAdj, capital consumption adjustment.
''Average f o r N o v e m b e r 1 - 2 1 .
' A v e r a g e for N o v e m b e r 7 , 1 4 , and 2 1 .

I t C I I NOVEMBER 1984



69

CYCLICAL INDICATORS
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued

B

MAJOR ECONOMIC
PROCESS

PRICES, COSTS, AND PROFITS-Continued

Minor Economic
Process

Year
and
month

U, L, L

L, L, L

81. Ratio,
profits (after
taxes) with IVA
and CCAdj to
corp. domestic
income 1

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

(Percent)

Timing Class

(Cents)

Unit Labor Costs and Labor Share

Cash Flows

Profits and Profit Margins-Continued
L, L, L

L, L, L

L, L, L

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

(1977 = 100)

(Ann. rate,
bil. dol.)

(Ann. rate,
bil. dol.)

Lg, Lg, Lg

Lg, Lg, Lg

63. Index of
68. Labor cost
unit labor cost, per unit of real
private business gross domestic
sector
product, nonfinancial
corporations
(1977 = 100)

(Dollars)

Lg, Lg, Lg

Lg, Lg, Lg

62. Index of labor cost per
unit of output, manufacturing
Actual data
as a percent
of trend

Actual data

(1967 - 1 0 0 )

64. Compensation of employees as a percent
of national
income

(Percent)

(Percent)

1982
January
February
March

5.'i

319

9^8

249.4

118! 4

150.0

1.372

225.8
223.3
223.5

104.9
103.2
102.6

75.7

April
May
June

k'.Z

3^6

96.4

259-0

121*.'6'

153.4

1.395

226.5
228.2
228.5

103.4
103.5
103.0

76.0

July
August
September

5.3

3.5

9610

266.6

124.3

155.3

1.404

226.9
226.2
226.4

1C1.7
ICO. 8
100.3

76.5

October
November
December

§!o

z.'&

95.6

2 6 6 '.7

123^4

155.9

1.4i9

227.9
229.0
229.1

100.3
100.2
99.6

76.'5

January
February
March

6.5

3.3

96.4

Z8Q.0

130.9

156.8

1 - 42 i

227.4
225.6
223.9

98.3
96.9
95.6

7 6 .'6

April
May :
June

7.5

4.'o

9^9

310.5

146.2

155.4

1.408

221.9
220.4
219.0

94.2
93.0
91.9

75 . 2

July
August
September

s Ii

4.2

98.7

3 3 9 .'6

159.2

155." i

1.400

216.4
214.7
214.4

90.2
89.0
1)8.3

74 .'5

October
November
December

8! 9

4.5

98.8

345^6

160.9

156.8

1.408

215.0
217.1
219.2

88.0
88.4
88.7

74." 3

January
February
March

91 i

4." 9

98.7

36IL4

16715

0)157.7

1.415

218.4
218.5
218.7

87.8
87.3
36.9

7315

April
May
June

9.6

|H>P4.9

[0)99.8

0)366.7

©169.3

156.5

1.414

218.9
218.1
217.0

86.4
135.6
34.7

73.3

E>P9-7

(NA)

p99^7

P364.4

pl67.1

pl57.6

0)p1.432

r215.7
216.3
r217.0

33.6
83.4
83.1

p73.5

P217.3

p82.8

1983

'

1984

July
August
September
October
November
December

See note on page 60.
Graphs of these series are shown on paces 15, 29, and 30.

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

70




NOVEMBER 1984

ItCII

CYCLICAL INDICATORS
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued

B

MAJOR ECONOMIC
PROCESS

MONEY AND CREDIT

Minor Economic
Process
Timing Class

Year
and
month

(_, L, L

85. Change in
money supply
Ml

(Percent)
1982

L. C, U

102. Change
in money
supply M2

(Percent)

('}

n

l , L, L

i, L, L

104. Change in total liquid assets
Smoothed
data"

Monthly
data

(Percent)

(Percent)

105. Money
supply M l
in 1972
dollars

(Bil, dol.)
C)

n

n

Credit Flows

Velocity of Money

Money

L, 1, L

106. Money
supply M2
in 1972
dollars

(Bil. dol.)
(']

C, C, C

107. Ratio,
gross national
product to
money supply
Ml

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.)

(Ratio)

(Ratio)

Revised"

January
February
March

1.90
-0.49
-0.04

0.98
0.21
0.50

1.07
r0.75
r0.82

0.92
0.89
0.87

199.3
197.8
198.0

803.0
802.7
807.8

6.742

1.390
1.398
1.393

36.72
18.02
4.75

April
May
June

r0.45
0.38
0.18

r0.68
0.80
0.63

0.89
0.88
0.98

rO.85
0.84
0.89

198.2
rl97.1
195.3

810.4
809.2
805.7

6.783

1.392
1.386
1.379

10.64
4.73
-7.61

July
August
September

0.18
1.02
1.27

0.66
rl.02
r0.87

0.93
0.81
r0.83

0.92
0.92
0.88

rl94.7
196.1
198.5

806.8
812.8
819.6

6.722

1.380
1.366
1.358

-5.03
-5.84
-13.14

October
November
December

1.45
rl.30
0.86

rO .78
r0.87
1.01

0.98
0.45
0.56

0.87
r0.81
0.71

200.6
203.2
205.6

822.9
830.1
r841.1

6.537

1.357
1.359
1.352

-50.09
-7.82
-46.81

0.96
1.24
rl.10

0>r2.65
1.81
r0.66

|H>rl.33
r0.82
r0.71

0.72
r0.84
0.93

207.0
209.7
211.8

860.7
876.9
882.0

6.465

1.318
1.293
1.292

45.85
34.37
-40.55

r0.28
[H}rl.77
0.85

r0.69
0.98
0.70

0.96
0.78
0.99

0.89
0.82
0.86

211.0
r213.8
215.1

882.2
886.9
r891.4

6.467

1.294
1.292
1.292

3.82
-32.22
31.43

July
August
September

0.78
0.49
0.29

0.45
0.41
0.59

0.88
0.50
r0.75

0.90
0.84
0.75

216.0
r216.3
216.1

892.1
892.4
r894.5

6.471

1.291
1.293
1.297

65.16
71.27
5.84

October
November
December

0.52
0.27
0.44

0.90
0.69
0.65

0.52
0.99
1.00

0.65
0.67
r0.80

r216.4
r216.2
216.6

898.9
901.8
905.5

6.557

1.299
1.299
1.302

62.30
75.52
110.15

January
February
March

0.89
0.55
r0.43

0.48
0.72
0.33

0.71
0.94
rl.30

0.87
0.89
0.93

217.2
217.6
r218.1

904.2
907.4
r908.4

6.669

1.313
1.315
1.319

82.34
81.96
110.14

April
May
June

0.04
1.06
r0.94

r0.58
0.70
0.60

r0.79
0.94
1.23

rl.00
rl.01
rl.00

217.1
r219.0
0)220.7

r909.5
r914.1
r918.1

6.737

1.324
1.319
1.323

133.85
0)142.00
115.33

July
August
September

r-0.09
r0.16
r0.40

r0.43
r0.40
r0.64

r l .06
(NA)

(H>rl.03
(NA)

r219.9
r219.3
219.4

r919.4
r918.9
r921.5

|H) 6 . 7 5 4

1.327
rl.329
rl.331

118.36
91.18
p89.33

October
November
December

p-0.62
3-0.13

p0.50

p217.3

0>p922.9

0}pl.332

(NA)

1983
January
February
March
April
May
June

1984

See note on page 60.
Graphs of these series are shown on pages 13, 31, and 32.

'This series is a weighted 4-term moving average (with weights 1,2,2,1) placed on the terminal month of the span.
See "New Features and Changes for This Issue," page iii.
Average for weeljs ended November 5 and 12.

2
3

ItCII NOVEMBER 1984



71

CYCLICAL INDICATORS
B

CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued

MAJOR ECONOMIC
PROCESS

MONEY AND CREDIT—Continued

Minor Economic
Process
Timing Class

Year
and
month

L, L, L

112. Net change
in business
loans

(Ann. rate,
bil. dol.)

L, L, L

L, L, L

113. Net
change in
consumer installment
credit
(Ann. rate,
bil. dol.)

111. Change
in credit outstanding—
business and
consumer
borrowing
(Ann. rate,
percent)

Bank Reserves

Credit Difficulties

Credit Flows-Continued

L, L, L

110. Total
private
borrowing

(Ann. rate,
mil. dol.)

L, L, L

14. Current
liabilities
of business
failures ®

(Mil. dol.)

L, L, L

L, U, U

Interest Rates

L, Lg, U

93. Free
reserves ©

94. Member
bank borrowing from the
Federal
Reserve ®

(Percent)•

(Mil. dol.)

(Mil. dol.)

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

L, Lg, Lg

C, Lg, Lg

119. Federal
funds rate ©

114. Treasury
bill rate ©

(Percent)

(Percent)

1982
January
February
March

77.99
61.63
24.17

5.00
2.00
7.60

10.7
8.2
3.0

246,632

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

64.98
44.36
29.44

19.48
22.13
24.28

6.8
4.8
3.0

295,528

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

3.13
2.54
14.87

10.07
3.07
15.07

-2.2
-0.2
0.8

268,224

1,425.60
2,759.58
1,024.66

2.19
2.21
2.19

-378
-199
-592

669
510
976

12.59
10.12

:.o.3i

11.91
9.01
8.20

October
November
December

11.80
-64.49
-62.64

-1.57
24.18
29.02

-3.1
-5.3
-4.1

275,268

1,299.04
733.27
794.00

2.24
2.23
2.18

-51
-177
-197

455
579
697

9.71
9.20
8.95

7.75
8.04
8.01

38.41
-4.84
11.70

31.14
0.26
35.24

8.1
0.8
-0.4

(NA)
263,148

2.24
2.23
2.22

46
-122
-415

500
557
852

8.68
8.51
8.77

7.81
8.13
8.30

-36.02
-47.33
4.38

24.49
27.26
46.33

-0.6
-4.7
5.3

389,164

2.07
2.00
1.92

-517
-453
-1,234

993
902
1,714

8.80
8.63
8.98

8.25
8.19
8.82

July
August
September

-2.59
8.72
-5.54

44.47
49.12
30.64

8.0
8.8
1.0

384,480

1.95
1.90
1.88

-875
-1,127
-943

1,382
1,573
1,441

9.37
9.56
9.45

9.12
9.39
9.05

October
November
December

5.59
20.02
51.36

61.12
57.83
69.38

8.5
10.7
13.3

0)527,176

1.91
1.86
1.94

-332
-383
-184

837
912
745

9.48
9.34
9.47

8.71
8.71
8.96

-17.78
55.30
0)119.22

53.63
79.30
70.44

8.1
15.3
20.7

393,476

1.84
0)1.78
1.85

-102
375
-243

715
567
952

9.56
9.59
9.91

8.93
9.03
9.44

90.92
69.83
104.38

76.90
0)122.80
93.90

19.8
0)23.9
22.1

p482,280

2.06
1.96
2.02

-744
-2,411
-2,533

1,234
2,988
3,300

10.29
10.32
11.06

9.69
9.90
9.94

July
August
September

39.17
11.57
38.03

85.27
71.98
51.40

14.1
10.1
rl2.3

(NA)

1.96
1.93
2.10

-5,317
0>-7,334
r-6,622

5,924
0)8,017
7,242

11.23
[W>11.64
=
11.30

10.13
[H)1Q.49
" 10.41

October
November
December

P73.92

(NA)

(NA)

(NA)

p-5,416

p6,017

9.99
'9.63

1983
January
February
March
April
May
June

1984
January
February
March
April
May
June

2

9.97
8.88

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

'Average for weeks ended November 7, 14, and 21.
"Average for weeks ended November 1, 8, 15, and 22.

72



NOVEMBER 1984

ItCII

CYCLICAL INDICATORS

B

CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued

MAJOR ECONOMIC
PROCESS

MONEY AND CREDIT—Continued

Minor Economic
Process
Timing Class

Interest Rates-Continued

Lg, Lg, Lg

C, Lg, Lg

116. Corporate 115. Treasury
bond yields (u) bond yields ®

U, Lg, Lg

Lg, Lg, Lg

Lg, Lg, Lg

117. Municipal
bond yields (u)

118. Secondary
market yields
on FHA
mortgages ©

67. Bank rates
on short-term
business loans
®

(Percent)

(Percent)

Year
and
month
(Percent)

(Percent)

Outstanding Debt

(Percent)

Lg, Lg, Lg

109. Average
prime rate
charged by
banks ©

(Percent)

Lg, Lg, Lg

Lg. Lg, Lg

66. Consumer
installment
credit

Lg, Lg, Lg

Commercial and industrial
loans outstanding
72. Current
dollars

(Mil. dol.)

(Mil. dol.)

Lg, Lg, Lg

101. Constant
(1972) dollars

95. Ratio,
consumer installment credit
to personal
income

(Mil. dol.)

(Percent)

1982
January
February
March

16.34
16.35
15.72

13.73
13.63
12.98

13.28
12.97
12.82

17.38
17.10
16.41

17.i3

15.75
16.56
16.50

332,197
333,227
333,574

254,352
259,488
261,502

101,538
103,505
104,517

13.17
13.11
13.11

April
May
June

15.62
15.37
15.96

12.84
12.67
13.32

12.59
11.95
12.45

16.31
16.19
16.73

i7!ii

16.50
16.50
16.50

335,225
336,804
338,475

266,917
270,614
273,067

106,681
107,943
108,662

13.09
13.10
13.16

July
August
September

15.75
14.64
13.78

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

338,994
339,306
340,415

273,328
273,540
274,779

108,377
108,505
109,343

13.08
13.09
13.09

October
November
December

12.63
11.89
12.15

10.51
10.18
10.33

9.69
10.06
9.96

12.99
12.82
12.80

1K26

12.52
11.85
11.50

341,293
342,852
348,944

275,762
270,388
265,168

109,560
107,254
105,017

13.04
12.96
13.14

January
February
March

12.04
12.11
11.81

10.37
10.60
10.34

9.50
9.58
9.20

12.87
12.65
12.68

10.20

11.16
10.98
10.50

351,539
351,561
354,498

268,369
267,966
268,941

106,580
106,083
106,553

13.22
13.23
13.27

April
May
June

11.58
11.24
11.90

10.19
10.21
10.64

9.05
9.11
9.52

12.50
12.41
12.96

10.31

10.50
10.50
10.50

356,539
358,811
362,672

265,939
261,995
262,360

105,364
103,514
103,332

13.24
13.21
13.26

July
August
September

12.46
12.89
12.68

11.10
11.42
11.26

9.53
9.72
9.58

14.23
13.78
13.55

ll!09

10.50
10.89
11.00

366,378
370,471
373,024

262,144
262,871
262,409

102,963
102,764
102,383

13.35
13.42
13.39

October
November
December

12.54
12.86
12.87

11.21
11.32
11.44

9.66
9.75
9.89

13.23
13.23
13.25

10.95

11.00
11.00
11.00

378,117
382,936
388,718

262,875
264,543
268,823

102,326
103,136
104,600

13.43
13.51
13.59

12.65
12.80
13.36

11.29
11.44
11.90

9.63
9.64
9.93

13.08
13.20
13.68

ll!o6

11.00
11.00
11.21

393,187
399,795
405,665

267,341
271,949
281,884

103,380
104,838
107,960

13.57
13.68
13.80

13.64
14.41
0)14.49

12.17
12.89
0)13.00

9.96
10.49
0)10.67

13.80
0)15.01
14.91

12^45

11.93
12.39
12.60

412,073
422,306
430,131

289,461
295,280
303,978

110,735
112,918
rll6,288

13.88
14.18
14.31

14.25
13.54
13.37

12.82
12.23
11.97

10.42
9.99
10.10

14.58
14.21
13.99

0)13^29

13.00
0)13.00
•
12.97

437,237
443,235
0)447,518

307,242
308,206
311,375

117,268
118,087
119,806

rl4.44
rl4.55
0>pl4.59

13.02
'12.44

11.66
'11.31

10.25
10.20

13.43

12.58
11.84

(NA)

0)p317,535

0)pl22,223

(NA)

1983

/

1984
January
February
March
April
May
June
July
August
September
October
November
December

!

a

3

See note on page 60.
Graphs of these series are shown on pages 15, 34, and 35.

"Average for weeks ended November 2 , 9 , 16, and 23.
Average for weeks ended November 1, 8, and 15.
'Average for November 1 through 23.

2

I t C I I NOVEMBER 1984



73

CYCLICAL INDICATORS
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 6 2 , 7 7 , 9 1 ,
95, 101, 109)

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

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

962, Initial claims for
State unemployment
insurance, week including the 12th 1
(51 areas)

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

1-month
span

9-month
span

1-month
span

9-month
span

I-month
span

6-month
span

41.7
33.3
33.3

5.0
95.0
25.0

7.5
30.0
25.0

96.1
24.5
5.9

11.8
31.4
43.1

27.6
47.6
35.7

19.2
22.2
21.9

58.3
41.7
58.3

33.3
33.3
33.3

22.5
65.0
70.0

20.0
20.0
82.5

62.7
68.6
19.6

15.7
23.5
9.8

31.1
41.1
33.5

24.6
20.3
21.4

0.0
0.0
0.0

33.3
50.0
33.3

33.3
16.7
16.7

37.5
42.5
35.0

35.0
65.0
82.5

67.6
9.8
17.6

17.6
72.5
82.4

34.6
32.4
37.3

21.4
18.6
23.2

0.0
50.0
75.0

50.0
50.0
75.0

16.7
0.0
16.7

0.0
8.3
16.7

52.5
80.0
62.5

57.5
85.0
97.5

88.2
60.8
76.5

71.6
66.7
84.3

28.9
32.4
45.7

27.3
29.5
35.4

100.0
100.0
100.0

100.0
25.0
100.0

100.0
100.0
100.0

33.3
50.0
25.0

16.7
16.7
16.7

77.5
12.5
100.0

90.0
90.0
80.0

68.6
57.8
35.3

98.0
96.1
100.0

54.3
46.5
60.8

50.8
63.0
69.2

87.5
70.8
87.5

91.7"
100.0
91.7

87.5
100.0
100.0

100.0
100.0
100.0

25.0
8.3
25.0

16.7
16.7
33.3

90.0
30.0
85.0

85.0
95.0
95.0

80.4
48.0
78.4

84.3
90.2
92.2

68.9
69.5
64.6

75.1
80.0
82.4

July
August
September

62.5
62.5
66.7

91.7
83.3
66.7

75.0
75.0
100.0

100.0
100.0
100.0

58.3
58.3
16.7

33.3
41.7
66.7

70.0
62.5
92.5

95.0
95.0
92.5

70.6
7.8
96.1

88.2
94.1
80.4

74.3
68.6
69.5

84.1
82.4
84.6

October
November
December

75.0
45.8
62.5

83.3
83.3
79.2

100.0
100.0
100.0

100.0
100.0
100.0

41.7
58.3
75.0

66.7
66.7
66.7

40.0
62.5
55.0

95.0
85.0
92.5

58.8
35.3
60.8

84.3
86.3
68.6

75.4
69.7
73.8

85.9
86.8
83.8

January
February
March

58.3
70.8
50.0

75.0
70.8
62.5

100.0
75.0
100.0

100.0
100.0
100.0

8.3
75.0
75.0

66.7
66.7
75.0

77.5
50.0
22.5

80.0
30.0
32.5

36.3
72.5
68.6

76.5
90.2
56.9

71.1
73.2
67.0

81.9
82.7
79.7

April
May
June

41.7

58.3

r25.0

100.0
100.0
100.0

100.0
100.0
IOQ.O

75.0
66.7
50.0

83.3
83.3
83.3

87.5
7.5
37.5

r27.5
50.0
p20.0

43.1
29.4
92.2

r66.7
p68.6
(NA)

63.8
64.1
63.0

75.4
r69.2
r62.7

75.0
87.5
50.0

noo.o

83.3
75.0
66.7

'75.0

37.5
r60.0
r75.0

rl9.6
51.0
p72.5

62.4
r57.6
r40.3

p61.4

p27.5

(NA)

p65.4

1-month
span

6-month
span

1-month
span

6-month
span

1-month
span

January
February
March

45.8
58.3
33.3

41.7
41.7
45.8

0.0
87.5
37.5

0.0
50.0
50.0

75.0
33.3
33.3

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

July
August
September

58.3
58.3
62.5

50.0
41.7
62.5

25.0
0.0
12.5

October
November
December

75.0
58.3
66.7

83.3
87.5
91.7

January
February
March

75.0
70.8
66.7

April
May
June

6-month
span

1982

1983

1984

29.2

luly
August
September

rl6.7
r45.8
66.7

Octobar
November
December

J

30.0

r2S.O
33.3
240.0

a

83.3

"50.0

NOTE: Figures are the percent of series components rising. (Half of the unchanged components are counted as rising.) Data are centered within the spans: 1-month indexes are placed on the 2d month, 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.

"Figures are the
"Excludes series
Excludes series
''Excludes series

74

percent o f components declining.
36 and 111 for which data are n o t available.
57, for which data are not available.
77 and 95, for which data are not available.




NOVEMBER 1984

ICCII

CYCLICAL INDICATORS
DIFFUSION INDEXES AND RATES OF CHANGE—Continued

DIFFUSION INDEXES-Continued

Year
and
month

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

1-month
span

9-month
span

966. Index of industrial
production (24
industries)

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

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

9-month
span

1-month
span

9-month
span

960. Net profits,
manufacturing 2 ©
(about 600 companies)

1-month
span

6-month
span

0.0
12.5
33.3

42.3
34.6
38.5

15.4
30.8
26.9

10.6
34.6
28.8

34.6
42.3
38.5

50

40

33.3
75.0
31.3
20.8
41.7
54.2

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

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

50

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

57

25.0
33.3
41.7

79.2
87.5
91.7

61.5
76.9
57.7

80.8
61.5
57.7

63.3
59.2
73.5

100.0
98.0
93.9

71

56

75.0
58.3
75.0

52

83.3
91.7
79.2

91.7
95.8
95.8

65.4
46.2
46.2

80.8
96.2
88.5

81.6
91.8
65.3

89.8
87.5
86.5

74

59

87.5
83.3
75.0

95.8
91.7
81.3

57.7
73.1
57.7

88.5
80.8
73.1

52.0
30.6
85.4

91.5
80.9
72.3

82

79.2
83.3
87.5

69.2
76.9
42.3

80.8
80.8
73.1

47.9
57.4
61.7

38.3
40.4
34.0

81

r60

62.5
56.3
70.8

89.6
91.7
83.3

38.5
61.5
65.4

73.1
65.4
42.3

52.1
10.6
60.6

41.5
25.5
58.7

(NA)

p57

87.5
79.2
68.8

r59

62.5
64.6
70.8

r77.1
r70.8
66.7

50.0
50.0
42.3

34.6
30.8
30.8

43.6
36.2
36.2

30.4
37.0
37.0

p39

r70.8
r52.1
r33.3

p58.3

34.6
46.2
46.2

23.1

34.8
93.5
73.9

1-quarter
span

4-Q moving
average

1-month
span

968. Index of stock
prices, 500 common
stocks 1 ©

(4-quarter span)

1982
January
February
March

35.3
52.9
38.2

20.6
20.6
35.3

53

April
May
June

38.2
58.8
32.4

23.5
23.5
38.2

24

July
August
September

47.1
27.9
67.6

26.5
26.5
52.9

53

October
November
December

35.3
70.6
44.1

39.7
50.0
73.5

,,,

January
February
March

67.6
52.9
55.9

88.2
88.2
83.8

45

April
May
June

70.6
73.5
67.6

86.8
88.2
88.2

53

July
August
September

47.1
58.8
64.7

91.2
88.2
85.3

50

October
November
December

64.7
67.6
55.9

94.1
91.2
88.2

59

January
February
March

61.8
47.1
55.9

85.3
73.5
82.4

71

April
May
June

29.4
67.6
35.3

70.6
r55.9
p32.4

July
August
September

58.8
44.1
41.2

October
November
December

p38.2

77

1983

1984

...

p54.2
3

30.8
57.7

s

34.8

See note on page 74.
Graphs of these series are shown on page 37.
" B a s e d o n S2 i n d u s t r i e s t h r o u g h A u g u s t 1 9 8 2 , o n SO i n d u s t r i e s in S e p t e m b e r 1 9 8 2 , o n 4 9 i n d u s t r i e s t h r o u g h A u g u s t 1 9 8 3 , o n 4 8 i n d u s t r i e s
t h r o u g h O c t o b e r 1 9 8 3 , on 4 7 i n d u s t r i e s t h r o u g h J u n e 1 9 8 4 , a n d on 4 6 i n d u s t r i e s t h e r e a f t e r . D a t a f o r c o m p o n e n t i n d u s t r i e s a r e n o t s h o w n in
table C2 but are available from t h e source.
a
T h i s is a c o p y r i g h t e d s e r i e s u s e d b y p e r m i s s i o n ; it m a y n o t b e r e p r o d u c e d w i t h o u t w r i t t e n p e r m i s s i o n f r o m D u n $ B r a d s t r e e t , I n c .
3
B a s e d o n average for N o v e m b e r 6 , 13, and 20.

75
NOVEMBER 1984 ItCII



CYCLICAL INDICATORS
DIFFUSION INDEXES AND RATES OF CHANGE—Continued

DIFFUSION INDEXES— Continued

1|

a. Actual
expenditures
(1-Q span)

b. Later
anticipations

c. Early
anticipations

Anticipated

Actual

Anticipated

Actual

Anticipated

Actual

973. Net sales, manufacturing
and trade 1 ©

972. Net profits, manufacturing
and t r a d e ' ®

971. New orders, manufacturing 1 ©

970. Business expenditures for new plant and
equipment ( 2 1 industries)

Year
and
quarter

(4-Q span)

(4-Q span)

(4-Q span)

60
66
60
60

70
69
74
72

70
74
71
63

78
76
80
80

60
68
64
60

53
52
52
54

61
66
66
60

63
58
57
60

65
70
72
65

66
74
78
84

66
77
82
85

62
66
71
74

64
73
80
81

€6
74
74
80

68
78
84
86

90
86
(NA)

88
91
90
88

80
79

84
86
88
84

8.5
84
(NA)

88
90
90
88

(4-Q span)

(4-Q span)

(4-Q span)

(1-Q span)

(1-Q span)

69.0
69.0
81.0
38.1

57.1
33.3
54.8
66.7

61.9
61. 9
85.7
76.

68
70
62
62

74
74
76
76

52.4
26.2
23.8
21.4

47.6
23.8
33.3
57.1

47. 5
57.1
66.7
71.4

52
50
52
56

....

38.1
38.1
76.2
81.0

57.1
40.5
90.5
81.0

52.4
38.1
66.
76.2

....

76.2
71.4

78.6
61.9
78.6

54.8
76.2
66.7
61.9

1981
First quarter
Second quarter
Third quarter
Fourth quarter

....
....

1982
First quarter
Second quarter
Third quarter
Fourth quarter

....
....

1983
Fiist quarter
Second quarter
Third quarter
Fourth quarter

....

1984
First quarter
Second quarter
Third quarter
Fourth quarter

(NA)

....

1
974. Number of employees,
manufacturing and trade' @

975. Level of inventories,
manufacturing and t r a d e '

Actual

Year
and
quarter

Actual

Anticipated

(4-Q span)

(4-Q span)

©

Anticipated

(4-Q span)

(4-Q span)

(NA)

DIFFUSION INDEXES— Continued
976. Selling prices, manufacturing 1 (u)
Anticipated

Actual

(4-Q span)

(4-Q span)

977. Selling prices, wholesale
trade 1 ©

978. Selling prices, retail
trade 1 ©

Actual

Actual

Anticipated

(4-Q span)

(4-Q span)

Anticipated

(4-Q span)

(4-Q span)

1981
First quarter
Second quarter
Third quarter
Fourth quarter

51
53
52
52

56
54
56
55

62
64
62
63

63
61
66
64

88
86
84
82

88
90
89
84

90
88
84
82

90
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
58
61

50
56
59
60

54
59
62
68

52
58
62
64

61
60
65
68

65
66
70
69

63
62
68
70

68
64
68
72

68
72
69
72

69
67
70
71

....

65
63

62
64
64
62

72
70

66
70
70
66

74
70
(NA)

74
76
76
72

73
69
(NA)

72
76
75
72

72
68

70
74
74
68

....
....

1982
First quarter
Second quarter
Third quarter
Fourth quarter

....
....

1983
First quarter
Second quarter
Third quarter
Fourth quarter

....

1984
First quarter
Second quarter
Third quarter
Fourth quarter

(NA)
....

(NA)

m

NOTE: Figures are the percent ol 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 © , that appear to contain no seasonal movement. The "r" indicates revised; " p " , preliminary; and "NA", not available.
Graphs ol these series are shown on page 38.

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

76




Dun 6

NOVEMBER 1984 ItCII

CYCLICAL INDICATORS
DIFFUSION INDEXES AND RATES OF CHANGE—Continued

SELECTED DIFFUSION INDEX COMPONENTS: Basic Data and Directions of Change
1984

Diffusion index components
April

March

May

June

July

August

September1"

October15

1
961 . AVERAGE WORKWEEK OF PRODUCTION WORKERS, MANUFACTURING
(Average weekly hours)

All manufacturing industries

-

40.7

+

-

(88)

(22)

Percent rising of 20 components

41.1

40.6

0

40.6

40.5

-

(38)

(8)

0

(38)

r40.5

+

(60)

40.6

-

(75)

40.5
(28)

•

Durable goods industries:
40.1
39.6

+
+

40.4
39.7

41.9
41.8

+
+

42.3
42.2

-

41.3
41.9

+
+

41.8
42.3

-

0

Electric and electronic equipment
Transportation equipment

41.0
42.9

+

-

41.3
43.5

Instruments and related products
Miscellaneous manufacturing

0

41.1
39.6

-

41.4
39.5

Food and kindred products
Tobacco manufacturers

+
+

39.8
36.9

+
+

40.1
39.5

Textile mill products
Apparel and other textile products

-

40.6
36.7

+
+

41.2
37.4

0

43.0
37.9

+
+

43.2
38.2

Chemicals and allied products
Petroleum and coal products

+

42.0
44.7

0
-

42.0
43.7

Rubber and miscellaneous plastics products
Leather and leather products

-

41.7
36.7

+
+

42.1
37.5

-

Lumber and wood products
Furniture and fixtures

-

Stone, clay, and glass products
Primary metal industries

-

-

-

Fabricated metal products
Machinery, except electrical

_

+
+

-

0

39.6
39.7

-

42.1
42.1

-

41.4
41.9

-

41.0
42.4

-

40.7
39.3

+

-

39.7
39.6

+

+

40.0
36.5

0

-

-

_
-

_

-

+

-

-

39.4
39.1

39.3
39.8

-

+

41.8
41.7

+

41.3
42.0

0

40.8
42.3

0

41.9
41.5

-

-

39.4
r39.1

+
+

40.2
40.0

r41.7
41.0

+
-

+
+

41.9
41.3

-

-

+

41.3
41.8

41.5
42.0

+
+

40.9
r42.4

+
+

41.1
42.7

-

-

41.1
r39.1

+
+

41.5
39.6

-

+

39.5
37.5

0

+
0

41.3
38.9

-

r41.1
r42.0

-

+

40.8
42.2

-

+
+

r39.7
r39.2

0
+

39.7
39.7

-

-

41.3
39.2

-

39.8
40.5

-

40.0
36.4

-

39.8
35.8

+

39.4
36.0

0

39.2
36.0

42.9
37.7

+
0

43.3
37.7

+

r43.1
r37.8

0
+
-

-

-

-

39.6
39.5
41.7
41.5
41.4
41.9
40.9
42.3
41.3
39.5

Nondurable goods industries:

Paper and allied products
Printing and publishing

_
_

>?

_

_
-

_
-

_
-

_
-

43.1
38.0

+

-

_
-

-

-

+

105,183

+

Other durable goods industries

11,657
10,931

+
+

18,303
16,892

+

Electrical machinery

-

28,444
18,956

98,317

+

(29)

(56)

Percent rising of 34 components

Fabricated metal products

-

+
-

_
-

_
+

_

39.6
40.0

+

38.9
36.1

43.1
37.9

0

42.9
37.9

+
-

41.9
43.1

0
+

41.9
43.2

+
+

42.0
r43.9

-

41.7
43.1

+
+

41.8
43.4

41.7
36.5

+
+

41.9
36.7

-

41.2
37.0

+

+

r41.4
r36.0

+
+

41.6
36.6

-

41.4
36.1

98,676

-

94,647

102,256

-

11,877
10,889

+

10,653
11,573

-

16,873
14,716

+
+

18,797
17,535

-

24,523
19,439

+

23,776
19,922

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

99,171

+

(35)

(68)

_

+

41.8
43.5

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

-

_

_
+

10,155
11,084

2

101,704

•

-

_

-

(41)

(44)

(59)
+

102,015

11,183
11,024

+
+

11,245
12,034

-

18,512
15,988

+

18,149
16,267

+

24,055
19,377

+
+

25,267
19,814

-

-

_
-

10,281
11,878

17,549
16,403

+
+

18,049
16,792

25,096
19,688

-

22,113
19,563

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

(38)
+
-

_
-

_
+

10,646
11,832
16,497
14,162
21,826
19,684

The " r " indicates revised: "p",

Data are seasonally adjusted by the source agency.
Data for most of the diffusion index components are not available for publication, but they are included in the totals and directions of
change for the six major industry groups shown here.
2

IN]II
NOVEMBER 1984



77

p

c

CYCLICAL INDICATORS
DIFFUSION INDEXES AND RATES OF CHANGE—Continued

Q

SELECTED DIFFUSION INDEX COMPONENTS: Basic Data and Directions ol Change- Continued
1984

•illusion index components

April

March

June

May

August1"

July

October'3

September1*

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

+

All industrial production
Percent rising of 24 components

160.8

+

(69)

'

162.1

+

162.8

+

(65)

(62)

164.4

+

(71)

165.9

+

166.1

-

(52)

(71)

165.2

0

165.2

(33)

(54)

150.4
!,9§.0

(NA)
(NA)

Durable manufactures:
lumber and products
furniture and fixtures

+
-

_

149.3
184.6

+
+

_

151.2
186.6

-

+

146.3
190.5

+
+

148.5
191.9

-

-

+

146.0
192.6

+
+

148.8
195.5

160.9
94.5

+
+

161.3
95.3

-

+

+
-

_

Clay, glass, and stone products
Primary metals

160.2
97.5

-

160.6
98.2

-

159.7
97.9

+

+

160.0
99.3

+

-

Fabricated metal products
Nonelectrical machinery

+
+

134.9
171.9

+
+

135.5
174.9

+
+

136.5
178.8

+
+

138.7
182.0

+
+

140.6
rl86.9

+

140.2
189.6

Electrical machinery
Transportation equipment

+
+

212.0
135.8

+

214.6
134.5

0
+

214.5
135.0

+
+

216.0
137.2

+
+

221.5
140.6

0
+

221.4
141.2

+

-

Instruments
Miscellaneous manufactures

+
+

169.7
152.3

+

171.0
152.1

+

171.8
151.5

+

+
+

rl76.7
152.4

-

177.4
149.2

+

-

174.5
150.8

+

-

Foods
Tobacco products

+
+

161.2
111.8

+
+

163.1
113.3

+

164.2
112.8

+
+

165.1
118.3

-

rl64.9
rll5.1

-

164.6
113.8

Textile mill products
Apparel products

+

143.5
(NA)

140.0
(NA)

+

140.5
(NA)

+

140.7
(NA)

172.4
166.3

+
+

174.1
167.5

+
+

174.6
169.0

228.3
126.8

227.9
127.9

+

+

334.1
61.4

+

-

-

_

_

-

-

159.5
93.3

+

(NA)
94.0

139.6
189.7

+
+

139.9
190.9

222.3
137.0
177.7
148.2

_
-

+
-

221.5
136.6
177.8
147.5

Nondurable manufactures:

Paper and products
Printing and publishing

•

_

173.8
165.2

•

_

Chemicals and products
Petroleum products

+
-

225.0
127.0

Rubber and plastics products
Leather and products

+
0

323.8
63.9

Metal mining
Coal

+
+

100.0
164.0

-

98.5
151.4

+

98.0
153.9

•

Oil and gas extraction
Stone and earth minerals

+

118.2
135.8

+
+

118.8
140.4

+
+

120.4
144.0

+
+

_

+

-

-

+

328.0
63.5

+

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

-

(t)

139.8
(NA)

+

rl76.7
rl72.6

+
+

176.8
1/4.1

231.0
127.5

+

r232.0
124.7

-

341.0
60.0

+
+

341.4
60.6

96.8
161.5

+

96.4
176.5

121.6
147.9

+
+

rl22.8
151.9

_

140.5
(NA)

+
+

(NA)
(NA)

rising, (o)

-

_

+
-

_

(NA)
(NA)

138.4
(NA)

(NA)
(NA)

177.2
173.8

+
+

178.5
174.0

230.0
122.9

+

(NA)
124.9

231.5
124.3

-

-

341.5
59.9

+

338.4
60.6

-

83.4
171.7

+

81.3
173.7

0
+

122.8
153.5

+

0

unchanged, and (

)

_

_

falling.

122.4
154.0

(NA)
(NA)

-

+

(NA)
129.6
122.8
(NA)

The " r " indicates revised: "p",

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

2

78




NOVEMBER 1984

ItCII

CYCLICAL INDICATORS
DIFFUSION INDEXES AND RATES OF CHANGE—Continued

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

Q

1984

Diffusion index components

March

April

May

June

July

967. INDEX OF SPOT MARKET PRICES, RAW INDUSTRIALS

Raw industrials price index (1967 = 100)

+

289.2

-

(65)

Percent rising of 13 components

288.6

+

(50)

289.5

-

(50)

286.2

-

(42)

August

September

October

November1

!

280.1

-

(35)

275.6

-

(46)

274.0

-

(46)

266.4

+

268.4
(58)

(31)

Dollars

Copper scrap

(pound)..
(kilogram)..

+

0.536
1.182

+

0.546
1.204

Lead scrap

(pound)..
(kilogram)

+

0.149
0.328

+

0.150
0.331

0

0 150
0 331

Steel scrap

(U.S. t o n ) . .
(metric t o n ) . .

95.750
105.545

+

98.600
108.687

+

5 890
12 9 8 5

-

99.250
109.403

-

Tin

(pound)..
(kilogram)..

+

5.840
12.875

+

5.845
12.886

Zinc

(pound)..
(kilogram)..

+

0.529
1.166

+

0.536
1.182

(yard)..
(meter)..

0

0.306
0.335

0

0.306
0.335

(pound)..
(kilogram)..

+

0.762
1.680

+

0.771
1.700

Burlap

Cotton

, .

0.820
0.897

Print cloth

(yard)..
(meter)..

Wool tops

(pound)..
(kilogram)..

0

3.500
7.716

Hides

(pound).,
(kilogram).,

+

0.720
1.587

Rosin

(100 pounds)..
(100 kilograms) .

0

47.000
103.616

Rubber

(pound)..
(kilogram)..

Tallow

(pound)..
(kilogram)..

-

-

+

0.578
1.274
0.219
0.483

-

0

-

0

-

-

0.815
0.891

-

-

-

+

-

0 508
1 120

0 533
1 175
0 300
0 328

-

+

-

-

-

+

0.479
1.056
0.158
0.348
94.250
103.892
5.882
12.967
0.530
1.168
0.313
0.342

0 803
1 770

-

0.763
1.682

0 784
0 857

-

0.762
0.833

3.500
7.716

0

3 500
7 716

+

3.512
7.743

0.712
1.570

+

0 744
1 640

+

0.748
1.649

47.000
103.616

0

47 000
103 616

0

47.000
103.616

0.568
1.252
0.218
0.481

-

+

0 514
1 133
0 249
0 549

-

+

0.475
1.047
0.259
0.571

-

+

-

-

-

+

-

+

0.459
1.012
0.188
0.414
85.000
93.696
5.772
12.725
0.502
1.107
0.329
0.360
0.683
1.506
0.768
0.840

+

-

+

-

-

+

-

-

0.460
1.014
0.171
0.377
86.000
94.798
5.680
12.522
0.491
1.082
0.336
0.367
0.640
1.411

-

-

+

-

-

+

-

0.435
0.959
0.143
0.315
92.000
101.412
5.585
12.313
0.476
1.049

+

0.138
0.304

88.000
97.002

-

87.000
95.900

5.404
11.914

+

5.533
12.198

0.454
1.001

0

0.454
1.001

+

0.396
0.433

+

0.626
1.380

-

0.610
1.345

0.762
0.833

+

0.779
0.852

+

0.794.
0.868

+

0.800
0.875

0

3.500
7.716

0

3.500
7.715

3.500
7.716

+

0.766
1.689

+

0.771
1.700

+

0.795
1.753

0

47.000
103.616

0

47.000
103.616

0

47.000
103.616

0.464
1.023

+

0.465
1.025

-

-

0.120
0.265

0.625
1.378

0

0.208
0.459

-

0.457
1.008

0.395
0.432

3.500
7.716

-

-

+

+

0

-

-

0.421
0.928

0.366
0.400

3.500
7.716

-

-

0.201
0.443

-

+

0.464
1.023
0.218
0.481

-

0

-

-

0.716
1.578
47.000
103.616
0.437
0.963
0.216
0.476

-

0

-

+

0.625
1.378
47.000
103.616
0.427
0.941
0.225
0.496

NOTE: To facilitate interpretation, the month-to-month directions of change are shown along with the numbers: ( + ) = rising, (o) = unchanged, and ( - ) = falling.
The " r " indicates revised: "p",
preliminary; and "NA", not available.
'The index is the a v e r a g e f o r N o v e m b e r 1 through 21; c o m p o n e n t p r i c e s are a v e r a g e s f o r N o v e m b e r 6 , 1 3 , and 2 0 .
"Data are n o t s e a s o n a l l y a d j u s t e d . T h e s e s e r i e s a r e b a s e d on c o p y r i g h t e d d a t a u s e d b y p e r m i s s i o n ; they m a y n o t be r e p r o d u c e d w i t h o u t
w r i t t e n p e r m i s s i o n from C o m m o d i t y R e s e a r c h B u r e a u , I n c . C o m p o n e n t s are c o n v e r t e d to m e t r i c u n i t s b y the Bureau o f E c o n o m i c A n a l y s i s .

I N ] I I NOVEMBER 1984



79

OTHER IMPORTANT ECONOMIC MEASURES
NATIONAL INCOME AND PRODUCT

D
c. Percent
change at
annual rate

b. Difference

a. Total

(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

Year
and
quarter

GNP AND PERSONAL INCOME

b. Difference

a. Total

(Ann. rate,
bil. dol.)

(Ann. rate,
bil. dol.)

c. Percent
change at
annual rate

(Ann. rate,
dollars)

213. Final sales
in 1972 dollars

(Ann. rate,
bil. dol.)

1901
First quarter
Second quarter
Third quarter
Fourth quarter

2.875.8
2,918.0
3,009.3
3.027.9

139.8
42.2
91.3
18.6

22.1
6.0
13.1
2.5

1,513.5
1,511.7
1,522.1
1,501.3

35.6
-1.8
10.4
-20.8

10.0
-0.5
2.8
-5.4

6,603
6,580
6,607
6,500

1,505.4
1,499.4
1,504.6
1,494.0

3.026.0
3,061.2
3.080.1
3,109.6

-1.9
35.2
18.9
29.5

-0.2
4.7
2.5
3.9

1,483.5
1,480.5
1,477.1
1,478.8

• 17.8
-3.0
-3.4
1.7

-4
-0
-0
0

.6
.8
.9
.5

6,408
6,381
6,349
6,341

1.490.3
1,484.5
1,483.5
1.503.4

3,173.8
3,267.0
3.346.6
3.431.7

64.2
93.2
79.6
85.1

8.5
12.3
10.1
10.6

1,491.0
1,524.8
1,550.2
1,572.7

12.2
33.8
25.4
22.5

3.3
9.4
6.8
5.9

6,379
6,510
6,602
6,681

1,507.5
1,530.9
1.549.3
1.565.4

3,553.3
3,644.7
r3,695.2

121.6
91.4
r50.5

14.9
10.7
r5.7

1,610.9
1,638.8
rl,646.5

38.2
27.9
r7.7

10.1
7.1
rl.9

6,829
6,933
r6,949

1,579.3
1,618.5
rl,616.5

....
....

19(2
First quarter
Second quarter
Third quarter
Fourth quarter

....
....

1983
First quarter
Second quarter
Third quarter
Fourth quarter

....
....

1984
First quarter
Second quarter
Third quarter
Fourth quarter

....
....

Q

Q j

GNP AND PERSONAL INCOME -Continued
230. Total in current
dollars

Disposable personal income

Year
and
quarter

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

PERSONAL CONSUMPTION EXPENDITURES

231. Total in 1972
dollars

232. Durable goods
in current dollars

233. Durable goods
in 1972 dollars

227. Per capita in
1972 dollars

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

(Ann. rate,
dollars)

(Ann. rate,
bil. dol.)

(Ann. rate,
bil. dol.)

(Ann, rate,
bil. dol.)

(Ann. rate,
bil. dol.)

1981
Second quarter
Third quarter
Fourth quarter

....
....

1,972.5
2,006.0
2,078.6
2,109.8

1,042.5
1,040.7
1,058.1
1,056.0

4 548
4,530
4,593
4,572

1,797.9
1,829.3
1,877.3
1,891.8

950.2
949.1
955.7
946.8

237.8
232.4
242.5
228.9

146.1
140.0
143.5
134.0

2,132.0
2,156.8
2,195.8
2,237.5

1 , 0 5 2 fi
1,054 8
1,057 9
1,067 6

4
4
4
4

548
546
548
578

1 ,931.3
1,960.9
2 ,001.3
2 ,046.1

953.7
958.9
964.2
976.3

239.4
241.6
244.5
255.0

138.5
138.8
139.3
145.2

2,261.4
2,302.9
2,367.4
2,428.6

1,073
1,082
1,102
1,124

1
0
2
3

4,591
4,619
4,694
4,776

2,070.4
2,141.6
2,181.4
2,230.2

982.5
1,006.2
1,015.6
1,032.4

259.4
276.1
284.1
299.8

146.8
156.2
159.6
167.2

1,147.6
1,165.3
rl.176.4

4,865
4,930
r4,965

2,276.5
2,332.7
r2,360.8

1.044.1
1.064.2
rl,065.6

310.9
320.7
r318.5

173.7
178.6
rl77.6

1982
Second quarter
Third quarter
Fourth quarter

....

1983
First quarter
Second quarter
Third quarter
Fourth quarter

....
....

1984
First quarter
Second quarter
Third quarter
Fourth quarter

....
....

2.502.2
2.554.3
r2,606.1

NOTE; Series are seasonally adjusted except for those, indicated by © , that appear to contain no seasonal movement. Series numbers are for identification only and do not reflect series relationships or order.
Complete titles and sources are listed at the back of this issue. The "r" indicates revised; " p " , preliminary; " e " , estimated; " a " , anticipated; and "NA", not available.
Graphs of these series are shown on pages 40 and 41.

80



NOVEMBER 1984

itcn

OTHER IMPORTANT ECONOMIC MEASURES
NATIONAL INCOME AND PRODUCT—Continued

0 1
236. Nondurable
goods in current
dollars

Year
and
quarter

(Ann. rate,
bil. dol.)

PERSONAL CONSUMPTION EXPENDITURES—Continued
238. Nondurable
goods in 1972
dollars

(Ann. rate,
bil. dol.)

237. Services in
current dollars

(Ann. rate,
bil. dol.)

m

239. Services in
1972 dollars

240. Total in
current dollars

(Ann. rate,
bil. dol.) .

(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.)

1981
First quarter
Second quarter
Third quarter
Fourth quarter

715.4
727.9
736.8
742.6

358.7
361.2
361.6
361.7

844.8
869.0
898.0
920.3

445.4
447.9
450.5
451.2

468.1
481.1
505.8
481.7

228.5
232.8
238.5
223.7

446.2
457.3
466.2
462.8

220.4
220.5
221.0
216.4

746.4
750.6
762.5
770.6

360.5
362.0
363.7
366.0

945.4
968.6
994.2
1,020.6

454.7
458.1
461.2
465.1

436.2
431.2
415.9
376.2

204.7
200.4
194.3
177.8

453.2
442.1
431.3
437.3

211.4
204.5
200.7
202.4

775.2
796.9
811.7
823.0

368.8
374.9
378.5
383.2

1,035.8
1,068.6
1,085.7
1,107.5

466.8
475.1
477.6
482.0

405.0
449.6
491.9
540.0

191.3
212.6
230.6
249.5

447.9
469.0
496.2
527.3

207.8
218.7
229.8
242.2

841.3
858.3
r861.1

387.1
396.6
r395.4

1,124.4
1,153.7
r l ,181.2

483.4
488.9
r492.6

623.8
627.0
r622.3

285.5
283.9
r300.6

550.0
576.4
r593.8

253.9
263.7
r270.6

....
....

1982
First quarter
Second quarter
Third quarter
Fourth quarter

....
....

1983
First quarter
Second quarter
Third quarter
Fourth quarter

....
....

1984
First quarter
Second quarter
Third quarter
Fourth quarter

....
...

• •
• S I

GROSS PRIVATE
DOMESTIC INVEST —Con.

245. Change in
business inventories in current
dollars

Year
and
quarter

(Ann. rate,
bil. dol.)

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

GOVERNMENT PURCHASES OF GOODS AND SERVICES
260. Total in
current dollars

(Ann. rate,
bil. dol.)

261. Total in
1972 dollars

(Ann. rate,
bil. dol.)

262. Federal
Government in
current dollars

263. Federal
Government in
1972 dollars

(Ann. rate,
bil. dol.)

(Ann. rate,
bil. dol.)

266. State and
local government
in current dollars

(Ann. rate,
bil. dol.)

287. State and
local government
in 1972 dollars

(Ann. rate,
bil. dol.)

1981
First quarter
Second quarter
Third quarter
Fourth quarter

....
....

21.9
23.7
39.7
18.9

8.1
12.4
17.5
7.2

576.6
585.3
601.3
622.7

286.0
285.1
287.4
289.6

215.6
220.9
232.2
246.9

107.4
108.2
111.7
113.8

361.0
364.4
369.1
375.8

178.6
176.9
175.7
175.9

-17.0
-10.9
-15.3
-61.1

-6.7
-4.0
-6.4
-24.6

630.9
633.7
656.3
681.0

290.2
287.0
292.8
300.6

249.8
245.0
261.6
279.4

114.8
111.0
117.2
124.8

381.1
388.7
394.7
401.6

175.4
176.0
175.7
175.8

-42.9
-19.4
-4.3
12.7

-16.5
-6.1
0.9
7.2

678.8
682.2
689.8
691.4

294.3
292.4
292.0
288.8

273.0
270.5
269.2
266.3

119.0
117.2
115.6
113.0

405.8
411.6
420.6
425.1

175.3
175.2
176.4
175.8

73.8
50.6
r68.5

31.6
20.3
r30.0

704.4
743.7
r762.0

289.5
302.1
r306.8

267.6
296.4
r302.8

112.2
123.2
rl25.4

436.8
447.4
1-459.3

177.3
178.9
rl81.4

1982
First quarter
Second quarter
Third quarter
Fourth quarter

....
....

1983
First quarter
Second quarter
Third quarter
Fourth quarter

....

1984
First quarter
Second quarter
Third quarter
Fourth quarter

....
....

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

IMjI) NOVEMBER 1984



81

OTHER IMPORTANT ECONOMIC MEASURES
NATIONAL INCOME AND PRODUCT—Continued

Q

quarter

255. Constant
(1972) dollars

250. Current
dollars

(Ann. rate,
bil. dol.)

(Ann. rate,
bil. dol.)

256. Constant
(1972) dollars

252. Current
dollars

280. Compensation of
employees

257. Constant
(1972) dollars

253. Current
dollars

(Ann. rate,
bil. dol.)

(Ann. rate,
bil. dol.)

NATIONAL INCOME
AND :TS COMPONENTS

220. National income in current
dollars

Imports of goods and services

Exports of goods and services

Net exports of goods and services

Year

H
R H

FOREIGN TRADE

(Ann. rate,
bil. dol.)

(Ann. rate,
bil. dol.)

(Ann. rate,
bil. dol.)

(Ann. rate,
bil. dol.)

1981
First quarter
Second quarter
Third quarter
Fourth quarter

33.1
22.4
24.8
31.7

368.4
369.8
368.7
372.8

161.2
161.0
159.3
159.4

335.3
347.5
343.9
341.1

112.5
116.3
118.7
118.2

2,299.4
2,330.6
2,407.8
2,417.6

1,716.1
1,747.6
1,785.5
1,812.5

34.9
34.1
25.7
24.1

359.4
366.3
346.3
321.7

152.2
155.1
146.6
136.7

331.7
330.8
339.7
315.4

117.3
121.0
120.9
112.6

2.422.3
2,443.9
2.452.4
2,468.6

1.834.2
1,857.7
1.876.3
1,888.7

19.6
-6.5
-16.4
-29.8

22.9
13.6
11.9
2.0

328.5
328.1
342.0
346.1

138.2
137.0
141.6
141.0

308.9
334.5
358.4
375.9

115.3
123.4
129.7
139.1

2,527.0
2,609.0
2.684.4
2.766.5

1.921.3
1.962.4
2,000.7
2,055.4

-51.5
-58.7
r-89.9

....

48.8
44.8
40.6
41.2

27.7
35.5
6.6
6.3

....

-8.3
-11.4
r-26.6

358.9
362.4
r369.3

144.9
144.7
rl47.8

410.4
421.1
r459.2

153.2
156.2
rl74.4

2,873.5
2,944.8
p2,983.4

2,113.4
2,159.2
r2,191.9

1982
Frst quarter
Second quarter
Third quarter
Fourth quarter

....
....

1983
First quarter
Second quarter
Third quarter
Fourth quarter

....
....

1984
First quarter
Second quarter
Third quarter
Fourth quarter

....
....

E
282. Proprietors'
income with inventory valuation and
capital consumption adjustments

Year
and
quarter

(Ann. rate,
bil. dol.)

J

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.)

1981
First quarter
Second quarter
Third quarter
Fourth quarter

....
....

127.8
123.9
129.7
119.1

38.7
40.8
42.9
46.8

194.8
184.3
195.7
184.9

222.0
233.9
253.9
254.4

469.0
475.9
503.0
489.5

355.8
364.1
380.3
390.2

121.8
122.1
145.0
160.6

116.8
107.7
102.2
117.6

47.8
48.3
52.9
57.0

159.9
161.7
163.3
151.6

263.6
268.5
257.7
253.8

447.0
445.4
397.9
344.8

378.3
386.2
393.8
393.9

142.6
136.7
134.5
130.2

114.7
116.9
123.3
131.9

57.7
59.0
56.2
60.4

179.1
216.7
245.0
260.0

254.2
254.2
259.2
258.9

393.4
414.7
455.2
485.7

417.0
441.4
469.7
486.4

128.0
96.7
119.0
128.7

154.9
149.8
1-154.5

61.0
62.0
63.0

277.4
291.1
p281.5

266.8
282.8
292.5

543.9
551.0
p555.5

498.8
515.3
p522.4

152.5
144.8
rl64.3

1982
Second quarter
Third quarter
Fourtti quarter

....
....

1983
First quarter
Second quarter
Third quarter
Fourth quarter

....
....

1984
First quarter
Second quarter
Third quarter
Fourth quarter

....
....

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

02



NOVEMBER 1984

itcn

OTHER IMPORTANT ECONOMIC MEASURES
NATIONAL INCOME AND PRODUCT—Continued

Q

SAVING—Continued

298. Government
surplus or deficit,
total

Year
and
quarter

(Ann. rate,
bil. dol.)

SHARES OF GNP AND NATIONAL INCOME

293. Personal
saving rate
(percent of disposable personal
income)
(Percent)

Percent of gross national product
235. Personal consumption expenditures, total
(Percent)

248. Nonresidential
fixed investment
(Percent)

(Percent)

247. Change in
business inventories

251. Net exports of
goods and services

(Percent)

249. Residential
fixed investment

(Percent)

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

-9.7
-11.4
-23.3
-62.4

6.2
6.1
7.0
7.6

62.5
62.7
62.4
62.5

11.6
11.9
12.1
12.2

3.9
3.7
3.4
3.1

0.8
0.8
1.3
0.6

1.2
0.8
0.8
1.0

-73.8
-77.6
-130.4
-179.2

6.7
6.3
6.1
5.8

63.8
64.1
65.0
65.8

12.1
11.5
11.1
10.9

2.9
3.0
2.9
3.1

-0.6
-0.4
-0.5
-2.0

0.9
1.2
0.2
0.2

-151.7
-123.4
-133.5
-129.3

5.7
4.2
5.0
5.3

65.2
65.6
65.2
65.0

10.5
10.4
10.6
11.2

3.6
4.0
4.3
4.2

-1.4
-0.6
-0.1
0.4

0.6
-0.2
-0.5
-0.9

-107.4
-109.2
p-131.1

6.1
5.7
6.3

64.1
64.0
r63.9

11.2
11.5
rll.9

4.3
4.3
4.2

2.1
1.4
rl.9

-1.4
-1.6
r-2.4

1982
First quarter
Second quarter
Third quarter
Fourth quarter

....
....

1983
First quarter
Second quarter
Third quarter
Fourth quarter

....
....

1984
First quarter
Second quarter
Third quarter
Fourth quarter

....
....

SHARES OF GNP AND NATIONAL INCOME-Continued

Percent of GNP-Continued

Year
and
quarter

265. Federal Government purchases of
goods and services
(Percent)

Percent of national income

268. State and local
government purchases
of goods and services

64. Compensation of
employees

(Percent)

(Percent)

283. Proprietors'
income with IVA
and CCAdj 1

285. Rental income
of persons with
CCAdj 1
(Percent)

(Percent)

287. Corporate
profits with IVA
and CCAdj'

289. Net interest

(Percent)

(Percent)

1981
First quarter
Second quarter
Third quarter
Fourth quarter

....
....

7.5
7.6
7.7
8.2

12.6
12.5
12.3
12.4

74.6
75.0
74.2
75.0

5.6
5.3
5.4
4.9

1.7
1.8
1.8
1.9

8.5
7.9
8.1
7.6

9.7
10.0
10.5
10.5

8.3
8.0
8.5
9.0

12.6
12.7
12.8
12.9

75.7
76.0
76.5
76.5

4.8
4.4
4.2
4.8

2.0
2.0
2.2
2.3

6.6
6.6
6.7
6.1

10.9
11.0
10.5
10.3

8.6
8.3
8.0
7.8

12.8
12.6
12.6
12.4

76.0
75.2
74.5
74.3

4.5
4.5
4.6
4.8

2.3
2.3
2.1
2.2

7.1
8.3
9.1
9.4

10.1
9.7
9.7
9.4

7.5
8.1
r8.2

12.3
12.3
12.4

73.5
73.3
p73.5

5.4
5.1
p5.2

2.1
2.1
p2.1

9.7
9.9
p9.4

9.3
9.6
p9.8

1982
First quarter
Second quarter
Third quarter
Fourth quarter

....
....

1983
First quarter
Second quarter
Third quarter
Fourth quarter

....
....

1984
First quarter
Second quarter
Third quarter
Fourth quarter

....
....

See note on page SO.

Graphs of these series are shown on pages 46 and 47.
'IVA, inventory valuation adjustment; CCAdj, capital consumption adjustment.

I M j I )

NOVEMBER 1984




83

OTHER IMPORTANT ECONOMIC MEASURES

B

PRICES, WAGES, AND PRODUCTIVITY

Q j
Implicit price deflator,
gross national product
Year
and
month

310. Index

(1972=100)

310c. Change
over 1-quarter
spans'

(Ann. rate,
percent)

PRICE MOVEMENTS

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

(1972 = 100)

311c. Change
over 1-quarter
spans '

(Ann. rate,
percent)

Consumer prices, food

Consumer prices, all items
320. Index

(1967=100)

©

322. Index

320c. Change
over 1-month
spans'

320c. Change
over 6-month
spans 1

(Percent)

(Ann. rate,
percent)

(1967-100)

322c. Change
over 1-month
spans'

322c. Change
over 6-month
spans 1

(Percent)

(Ann. rate,
percent)

1982
5.3

204.0

April
May
June

206.8

July
August
September

208.5

October
November
December

210.3

282.5
283.4
283.1

0.4
0.2
-0.1

3.5
4.4
6.0

281.8
283.4
282.7

0.9
0.6
-0.2

3.7
4.8
5.8

4.4

284.3
287.1
290.6

0.4
0.9
1.1

6.2
6.2
6.6

283.4
285.3
287.2

0.2
0.7
0.7

4.2
2.4
3.2

5.6

292.2
292.8
293.3

0.5
0.3
0.0

6.6
4.7
1.8

287.6
286.8
287.2

0.1
-0.3
0.1

3.0
1.8
0.6

3.7

294.1
293.6
292.4

0.4
0.0
-0.3

1.4
0.7
0.8

287.6
287.9
288.0

0.1
0.1
0.0

0.9
1.6
2.2

2.7

293.1
293.2
293.4

0.3
-0.1
0.1

1.4
2.3
3.3

288.9
289.1
290.3

0.3
0.1
0.4

2.7
2.9
2.4

3.9

295.5
297.1
298.1

0.7
0.4
0.2

3.4
4.3
5.0

291.5
292.1
291.5

0.4
0.2
-0.2

1.61.8
1.4

4.5

299.3
300.3
301.8

0.4
0.4
0.4

4.4
4.2
4.3

291.2
291.7
292.3

-0.1
0.2
0.2

1.4
1.4
2.7

3.5

302.6
303.1
303.5

0.4
0.4
0.2

4.8
4.8
4.5

293.5
294.1
295.4

0.4
0.2
0.4

6.3
7.3
6.6

4.2

305.2
306.6
307.3

0.6
0.4
0.2

4.6
4.3
4.1

300.2
302.2
301.8

1.6
0.7
-0.1

5.7
4.7
4.0

4.1

308.8
309.7
310.7

0.5
0.2
0.2

3.4
3.6
3.9

301.7
300.9
301.3

0.0
-0.3
0.1

1.3
1.3
1.3

r4.0

4.6

January
February
March

311.7
313.0
314.5

0.3
0.5
0.4

3.7

302.2
304.1
303.8

0.3
0.6
-0.1

2.1

315.3

0.4

304.9

0.4

211.7

5.6
214ll

3.4
217.0

3.4
218.9

1983
5.0

January
February
March

212 [9

April
May
June

214.2

July
August
September

215.9

October
November
December

2is!2

220.4

2.6
222.5

3.1
225.0

4.4
226! 9

1984
January
February
March . . . . . . . . . .

220.6

4.4

April
May
June

222.4

July
August
September

224.4

229.3

3.3
231.6
r3.7

October
November
December

r233.9

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

'Changes are contercd 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 1984

I t C I I

OTHER IMPORTANT ECONOMIC MEASURES

B

PRICES, WAGES, AND PRODUCTIVITY—Continued

Q

Producer prices, all commodities
Year
and
month

330. Index

©

330c. Change
over 1-month
spans 1 ©

(1967 = 100)

(Percent)

PRICE MOVEMENTS--Continued

Producer prices, industrial commodities

330c. Change
over 6-month
spans 1 ©

335. Index

©

(Ann. rate,
percent)

(1967 = 100)

335c. Change
over 1-month
spans 1 ©

(Percent)

Producer prices, crude materials

335c. Change
over 6-month
spans 1 ©

(Ann. rate,
percent)

331. Index

(1967=100)

331c. Change
over 1-month
spans 1

(Percent)

331c. Change
over 6-month
spans 1

(Ann. rate,
percent)

1982
January
February
March

298.3
298.6
298.0

0.8
0.1
-0.2

1.3
2.1
2.4

311.8
311.6
311.0

0.6
-0.1
-0.2

0.6
0.2
0.4

320.4
319.5
317.9

1.3
-0.3
-0.5

-2.2
3.0
4.8

April
May
June

298.0
298.6
299.3

0.0
0.2
0.2

1.4
1.1
0.9

309.9
309.6
310.6

-0.4
-0.1
0.3

0.6
1.0
1.1

320.0
324.2
323.7

0.7
1.3
-0.2

0.2
-1.1
-1.3

July
August
September

300.4
300.2
299.3

0.4
-0.1
-0.3

1.2
1.1
0.9

312.8
313.2
312.7

0.7
0.1
-0.2

2.9
3.5
3.0

320.8
317.8
315.8

-0.9
-0.9
-0.6

-2.9
-3.1
-3.7

October
November
December

299.8
300.3
300.7

0.2
0.2
0.1

-0.3
0.5
0.9

314.3
315.0
315.2

0.5
0.2
0.1

0.7
0.4
0.5

315.4
319.1
317.7

-0.1
1.2
-0.4

-2.8
0.4
2.8

January
February
March

299.9
300.9
300.6

-0.3
0.3
-0.1

0.5
0.8
1.1

313.9
313.9
313.5

-0.4
0.0
-0.1

-1.2
-0.9
0.1

316.2
318.5
320.2

-0.5
0.7
0.5

5.0
1.6
2.2

April
May
June

300.6
301.5
302.4

0.0
0.3
0.3

2.2
2.5
3.2

312.4
313.6
315.3

-0.4
0.4
0.5

1.7
2.2
2.3

323.2
321.6
321.1

0.9
-0.5
-0.2

1.1
4.1
5.4

July
August
September

303.2
304.7
305.3

0.3
0.5
0.2

3.6
2.7
2.5

316.5
317.3
317.1

0.4
0.3
-0.1

3.9
3.0
2.0

317.9
325.0
328.8

-1.0
2.2
1.2

3.7
5.5
7.9

October
November
December

306.0
305.5
306.1

0.2
-0.2
0.2

3.2
2.8
3.8

318.5
318.3
318.4

0.4
-0.1
0.0

1.6
2.1
3.1

329.2
330.4
333.6

0.1
0.4
1.0

11.7
3.7
5.1

308.0
308.9
311.0

0.6
0.3
0.7

3.5
4.0
r3.4

319.1
320.6
321.9

0.2
0.5
0.4

2.6
3.1
r3.4

336.0
330.9
337.1

0.7
-1.5
1.9

4.7
2.1
r-1.6

311.3
311.5
r311.3

0.1
0.1
r-0.1

2.6
1.3
-1.0

322.6
323.2
r-323.8

0.2
0.2
0.2

3.1
1.8
0.2

336.9
333.8
r330.9

-0.1
-0.9
r-0.9

-2.8
-2.2
-5.9

July
August
September

312.0
310.9
309.5

0.2
-0.4
-0.5

-1.2

324.0
323.5
322.3

rO.l
-0.2
-0.4

0.4

331.3
327.2
327.0

0.1
-1.2
-0.1

-7.5

October
November
December

309.4

0.0

323.2

0.3

324.0

-0.9

1983

,

1984
January
February
March
April
May
June

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

'Changes are centered within the spans:

licit

NOVEMBER 1984




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

85

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

B

Q j

332. Index

332c. Change
over 1-month
spans'

(1967-100)

(Percent)

Producer prices, finished consumer goods

Producer prices, capital equipment

Producer prices, intermediate materials
Year
and
month

PRICE MOVEMENTS-Continued

332c. Change
over 6-month
spans'

333. Index

(Ann. rate,
percent)

(1967-100)

333c. Change
over 1-month
spans'

(Percent)

333c. Change
over 6-month
spans'

334. Index

(Ann. rate,
percent)

(1967 = 100)

334c. Change
over 1-month
spans'

(Percent)

334c, Change
over 6-month
spans'

(Ann. rate,
percent)

1982
January
February
March

311.6
311.1
310.1

0.3
-0.2
-0.3

-0.5
-0.7
-0.6

275.2
274.5
276.0

0.6
-0.3
0.5

4.9
4.4
4.4

278.2
278.3
277.5

0.7
0.0
-0.3

2.3
1.3
2.7

April
May
lune

309.0
309.1
309.8

-0.4
0.0
0.2

-0.7
-0.6
0.2

276.8
277.9
279.5

0.3
0.4
0.6

3.9
5.4
4.3

277.8
277.4
280.1

0.1
-0.1
1.0

2.3
3.1
3.8

July
August
September

310.5
310.2
310.4

0.2
-0.1
0.1

0.8
1.3
1.0

280.5
281.8
281.9

0.4
0.5
0.0

3.7
3.6
3.5

281.4
282.6
282.7

0.5
0.4
0,0

4.4
6.0
4.3

October
November
December

310.3
311.1
311.3

0.0
0.3
0.1

-0.5
-0.2
-0.8

281.9
282.8
284.3

0.0
0.3
0.5

2.6
2.3
2.8

283.8
285.6
286.1

0.4
0.6
0.2

1.4
0.6
0.0

January
February
March

309.8
309.9
309.1

-0.5
0.0
-0.3

-1.5
-1.3
0.0

284.1
285.0
285.8

-0.1
0.3
0.3

2.9
2.6
1.9

283.4
283.4
282.7

-0.9
0.0
-0.2

-0.8
-1.5
-1.0

April
May
June

307.9
309.1
311.3

-0.4
0.4
0.7

1.6
2.3
4.1

285.9
286.5
287.0

0.0
0.2
0.2

2.4
2.7
1.9

282.6
283.5
284.7

0.0
0.3
0.4

0.8
1.5
2.4

July
August
September

312.2
313.4
315.3

0.3
0.4
0.6

5.5
4.9
3.8

287.5
288.8
288.5

0.2
0.5
-0.1

1.9
1.8
2.0

284.6
285.5
286.1

0.0
0.3
0.2

2.9
2.0
1.4

October
November
December

316.2
316.6
317.1

0.3
0.1
0.2

3.1
2.7
2.6

288.6
289.0
289.8

0.0
0.1
0.3

2.1
2.0
2.8

286.6
286.3
286.7

0.2
-0.1
0.1

2.9
3.0
3.5

January
February
March

317.0
317.6
319.3

0.0
0.2
0.5

2.1
2.4
2.9

290.5
291.7
292.5

0.2
0.4
0.3

4.0
3.4
r3.1

288.7
289.8
291.0

0.7
0.4
0.4

2.8
2.8
r2.5

April
May
June

319.5
320.3
321.6

0.1
0.3
0.4

2.5
1.8
0.5

294.3
293.9
r294.2

0.6
-0.1
rO.l

3.3
3.1
2.6

290.6
290.3
r290.2

-0.1
-0.1
0.0

1.8
0.6
-0.7

July
August
September

321.0
320.5
320.1

-0.2
-0.2
-0.1

0.6

295.2
296.2
296.3

r0.3
0.3
0.0

0.2

291.3
290.7
290.0

r0.4
-0.2
-0.2

-0.5

October
November
December

320.5

0.1

294.6

-0.6

289.9

0.0

1983

1984

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

'Changes are centered within the spans:

86



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

NOVEMBER 1984 ItCII

OTHER IMPORTANT ECONOMIC MEASURES

B

PRICES, WAGES, AND PRODUCTIVITY—Continued

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

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

Current-dollar earnings
340. Index

(1977-100)

340c. Change
over 1-month
spans'
(Percent)

Current-dollar compensation

Real earnings
340c. Change
over 6-month
spans 2
(Ann. rate,
percent)

341. Index

(1977 = 100)

341c. Change
over 1-month
spans 2
(Percent)

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

345. Index

(1977 = 100)

345c. Change
over 1-quarter
spans 2
(Ann, rate,
percent)

345c. Change
over 4-quarter
spans 2
(Ann. rate,
percent)

1982
January
February
March

145.1
145.2
145.7

1.2
0.1
0.3

6.6
6.5
6.8

93.2
93.0
93.5

0.8
-0.1
0.5

3.3
2.2
1.0

15O!7

April
May
June

146.5
147.6
148.1

0.5
0.7
0.4

5.5
6.5
6.4

93.7
93.5
92.9

0.2
-0.2
-0.7

-0.6
0.4
-0.3

152! 9

July
August
September

149.0
149.9
150.3

0.6
0.6
0.2

6.1
5.1
5.6

92.9
93.2
93.4

0.0
0.3
0.2

-0.6
0.3
3.5

155.6

October
November
December

150.9
151.3
152.2

0.4
0.3
0.6

5.2
5.0
4.5

93.4
93.6
94.5

0.0
0.3
0.9

4.2
4.5
3.6

157! 5

January
February
March

152.9
153.6
153.6

0.4
0.5
0.0

4.4
4.6
3.8

94.8
95.3
95.1

0.4
0.5
-0.2

3.1
2.5
1.0

159! 7

April
May
June

154.2
154.7
155.1

0.4
0.3
0.2

3.7
2.4
3.4

94.8
94.8
94.9

-0.2
0.0
0.1

0.3
-1.9
-1.1

16L0

July
August
September

155.6
155.4
156.2

0.4
-0.1
0.5

3.7
3.2
3.5

94.9
94.4
94.5

0.0
-0.6
0.2

-0.3
-0.5
-0.1

"16K9

October
November
December

157.1
157.2
157.8

0.5
0.1
0.4

3.7
4.0
3.7

94.7
94.6
94.9

0.2
-0.2
0.3

-0.3
0.8
1.2

163." 7

January
February
March

158.4
158.5
159.1

0.4
0.1
0.4

3.6
3.1
3.2

94.8
94.8
95.1

0.0
-0.1
0.3

1.4
0.7
0.7

165'.9

April
May
June

159.9
159.6
160.3

0.5
-0.2
0.4

3.0
2.6
3.3

95.4
94.9
95.2

0.3
-0.5
0.3

0.7
-1.5
-1.7

167! 4

July
August
September

160.8
160.6
161.7

0.3
r-0.2
0.7

P2.2

95.2
94.1
94.3

0.0
r-1.2
0.2

p-2.8

October
November
December

pl61.6

pO.O

P94.1

p-0.2

10.6
Y.'l

5.8
i'.'i
7.4
6'.0

5.0
5^3

19(3
5.7

3.3
3^9

2.3
3.9

4.5
3.9

1984
5.4
pi!3

3.5

pl69io

p3.8

See note on page 80.
Graphs of these series are shown on pages 49 and 50.
' A d j u s t e d f o r o v e r t i m e (ill m a n u f a c t u r i n g o n l y ) a n d i n t e r i n d u s t r y e m p l o y m e n t s h i f t s .
"Changes are centered within the spans:
1 - m o n t h c h a n g e s a r e p l a c e d o n t h e 2d m o n t h , 6 - m o n t h c h a n g e s a r e p l a c e d o n t h e 4 t h m o n t h , 1 - q u a r t e r c h a n g e s a r e p l a c e d o n t h e 1st m o n t h o f t h e 2d q u a r t e r , a n d 4 - q u a r t e r c h a n g e s a r e p l a c e d on t h e m i d d l e m o n t h o f t h e 3d q u a r t e r .

licit

NOVEMBER 1984



37

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

B

m

348. First year
average changes

Real compensation
346. Index

(1977=100)

Output per hour, all persons, private
business sector

Negotiated wage and benefit
decisions, all industries ©

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

WAGES AND PRODUCTIVITY—Continued

346c. Change
over 1-quarter
spans'

346c. Change
over 4-quarter
spans 1

(Ann. rate,
percent)

(Ann. rate,
percent)

(Ann. rate,
percent)

370. Index

349. Average
changes over
life of
contract

(Ann. rate,
percent)

(1977 = 100)

370c. Change
over 1-quarter
spans'

370c. Change
over 4-quarter

(Ann. rate,
percent)

(Ann. rate,
percent)

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

' (1977=100)

1982
6.6

January
February
March

96! 5

April
May
June

96!<5

July
August
September

96.6

October
November
December

97.4

1.9

2.5

1.2

2.6

0.3

4.7

3.3

1.2

106! 3
10CL5

3.4

ioi!6

3!i

103! 6

3!5

104 ! i

3.3

104.4

2.7

4.8
ioi'.6

2'.0

1983

99!i

3!3

2.4
100! 9

2.3

3.4

i.-3

100! 3

6.2

99! 8

-2.3

2.1

2.6

0.2

-O!6

100! 9

i!s

»

January
February
March

98! 7

5.3

April
May
June

98.5

July
August
September

98.0

October
November
December

98*. 1

-1.6

-1.0

102! 2

4.4

3.6

5.0

4.3

2.8
104! 3

-o! 6
0.1

5.9
103! 6

O!6

-1.8

2.1

1.4

i!s

4.9

3.1

1.4
104.7

-o! 3

1984
January
February
March

98! 2

April
May
June

98! i

July
August
September

0.4

5.1

4.7

PO!2
-0.1

3.5

4.0
105.7

3.2

p3.6

p0.2
p9B.Z

p2.9

2

4.9
106.' 6

107.0

.......

105!

p3.3

pl.7
pl07!5

pl06!6

October
November
December
See note on page 80.
Graphs of these series are shown on paps 49 and 50.

'Changes are centered within the spans:
on the middle month of the 3d quarter.

88



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

NOVEMBER 1984 ItCII

OTHER IMPORTANT ECONOMIC MEASURES
LABOR FORCE, EMPLOYMENT, AND UNEMPLOYMENT

m
Civilian labor force
Year
and
month

441. Total

(Thous.)

442. Employed

(Thous.)

CIVILIAN LABOR FORCE AND MAJOR COMPONENTS

Labor force participation rates

Number unemployed

451. Males
20 years
and over

452. Females
20 years
and over

453. Both
sexes, 16-19
years of age

(Percent)

(Percent)

(Percent)

37. Total

(Thous.)

444. Males
20 years
and over

445. Females
20 years
and over

446. Both
sexes, 16-19
years of age

(Thous.)

(Thous.)

(Thous.)

447. Fulltime
workers

(Thous.)

448. Number employed
part-time
for economic
reasons

(Thous.)

19(2
January
February
March

109 075
109 503
109 664

99,682
99,810
99,754

78.6
78.7
78.7

52 2
52 4
52 6

54.2
54.8
54.2

9,393
9,693
9,910

4,374
4,427
4,615

3 117
3 293
3 405

1 ,902
1 ,973
1 ,890

7,820
7,989
8,335

4,961
5,413
5,591

April
May
June

109 901
110 542
110 133

99,598
100,179
99,653

78.8
79.0
78.8

52 6
52 9
53 0

54.5
55.5
52.4

10,303
10,363
10,480

4 766
4 787
5 065

3 571
3 ,568
3 550

1 ,966
2 ,008
1 ,865

8,605
8,739
8,914

5,756
5,781
5,696

July
August
September

110,399
110,473
110,679

99,503
99,563
99,412

78.8
78.6
78.9

53 0
53 0
52 8

53.2
53.9
54.1

10,896
10,910
11,267

5 207
5 245
5 563

3 682
3 668
3 693

2 ,007
1 ,997
2 ,011

9,128
9,188
9,580

5,627
5,886
6,436

October
November
December

110,690
110,923
110,873

99,146
99,036
98,979

78.8
78.8
78.6

52 7
52 9
53 0

54.2
54.5
53.7

11,544
11,887
11,894

5,710
5,847
5,836

3 814
3 995
4 ,026

2 ,020
2 ,045
2 ,032

9,907
10,115
10,171

6,445
6,344
6,367

January
February
March

110 677
110 688
110 735

99,154
99,172
99,316

78.2
78.2
78.2

53 0
52 9
52 9

53.5
53.1
53.2

11,523
11,516
11,419

5 623
5 717
5 595

3 979
3 933
3 891

1 ,921
1 ,866
1 933

9,811
9,865
9,744

6,678
6,362
6,169

April
May
June

110 975
110 950
111 905

99,606
99,762
100,743

78.4
78.4
78.7

52 9
52 8
53 2

53.0
52.6
54.7

11,369
11,188
11,162

5 682
5 583
5 352

3 780
3 748
3 ,837

1 ,907
1 ,857
1 ,973

9,727
9,514
9,332

6,077
5,965
5,886

July
August
September

111 825
112 117
112 229

101,225
101,484
101,876

78.7
78.6
78.6

53 1
53 3
53 4

53.7
54.4
53.8

10,600
10,633
10,353

5 217
5 150
5 065

3 524
3 598
3 512

1 ,859
1 885
1 776

8,985
8,964
8,747

5,700
5,866
6,027

October
November
December

111 866
112 035
112 136

101,970
102,606
102,941

78.4
78.4
78.3

53 2
53 2
53 2

52.8
53.3
53.7

9,896
9,429
9,195

4 809
4 ,596
4 392

3 366
3 215
3 181

1 ,721
1 ,618
1 ,622

8,319
7,900
7,658

5,724
5,848
5,712

January
February
March

112 215
112 693
112 912

103,190
103,892
104,140

78.3
78.4
78.3

53 0
53 3
53 4

53.0
53.9
54.2

9,026
8,801
8,772

4 ,300
4 128
4 020

3 ,182
3 120
3 144

1 ,543
1 ,553
1 ,608

7,532
7,283
7,301

5,943
5,808
5,463

April
May
June

113 245
113 ,803
113 877

104,402
105,288
105,748

78.3
78.3
78.4

53 7
54 2
54 0

54.4
54.4
54.7

8,843
8,514
8,130

4 095
3 861
3 755

3 186
3 124
2 955

1 562
1 529
1 419

7,398
7,058
6,524

5,593
5,353
5,491

July
August
September

113,938
113,494
113,699

105,395
104,969
105,239

78.3
78.3
78.3

54 1
53 8
53 5

54.4
52.3
54.3

8,543
8,526
8,460

3 906
3 853
3 875

3 173
3 264
3 053

1 464
1 409
1 532

7,061
6,980
6,986

5,300
5,324
5,496

October
November
December

114,017

105,586

78.3

53 9

53.6

8,431

3 758

3, 204

1 470

7,000

5,479

19S3

1984

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

IMjI) NOVEMBER 1984



89

OTHER IMPORTANT ECONOMIC MEASURES

D

GOVERNMENT ACTIVITIES

m

DEFENSE INDICATORS

RECEIPTS AND EXPENDITURES

Advance measures of defense activit

State and local governments 1

Federal Government'

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.)

397.6

19,361
20,608
18,869

9,756
13,761
9,870

98,818
102,677
105,418

6,987
6,639
6,917

440 ,'i

405.7

20,793
17,786
17,503

10,518
9,657
14,296

108,428
108,841
109,654

6,386
5,273
5,752

33.3

445.9

412.6

17,669
16,448
18,387

8,610
8,928
10,296

110,885
110,787
111,857

5,055
5,762
4,149

818.9

31.5

451.6

420.2

16,476
18,599
24,396

5,423
10,209
17,298

111,866
113,647
119,788

5,978
5,769
10,410

6 1 9 .'8

805.6

34 .'i

458.3

424.2

21,340
19,502
20,444

16,908
13,042
7,351

122,628
123,803
125,570

9,419
5,105
6,751

-167!3

649^3

816.7

43.9

473.5

429.6

19,332
19,554
21,518

10,132
10,111
10,814

126,165
126,532
129,720

7,309
4,805
7,692

July
August
September

-I80!

640*. 2

821A

4 7 .'4

486

4 3 8 .'7

19,409
20,489
20,388

11,017
10,727
10,921

131,172
130,829
133,056

6,750
5,103
5,154

October
November
December

-180.5

655.0

835.5

5il2

495 ! 6

443.'8

17,201
24,242
24,204

2,820
16,140
9,463

131,130
139,062
141,820

6,566
9,004
7,600

January
February
March

-16L3

686! 4

847! 6

53." 9

509! 6

455 7

21,145
22,667
23,445

15,089
14,273
13,779

142,169
145,648
150,842

6,608
7,289
11,539

April
May
June

-163!7

704.3

868.0

54.5

520.6

466.1

19,185
20,342
19,781

11,398
9,459
11,644

149,369
149,452
151,538

6,248
5,679
6,990

p-176.9

p707.4

r884.3

p45!8

p523.3

477 ] 5

20,988
23,098
p22,191

10,101
12,647
(NA)

152,828
156,271
156,950

7,215
7,584
r6,586

(NA)

p4,725

501. Receipts

502. Expenditures

510. Surplus
or deficit

511. Receipts

512. Expenditures

(Ann. rate,
bil. dol.)

(Ann. rate,
bil. dol.)

(Ann. rate,
bil. dol.)

(Ann. rate,
bil. dol.)

(Ann. rate,
bil. dol.)

(Ann. rate,
bil. dol.)

January
February
March

-10613

622! 9

7 2 9 .'3

32.5

430.1

April
May
June

-112.0

625.9

737.9

34.4

July
August
September

-163.'7

609.9

773.6

October
November
December

-210.6

6 0 8 .*3

- 1 8 5 .'7

April
May
June

Year
and
month

500. Surplus
or deficit

1982

1983
January
February
March

.......

1984

July
August
September
October
November
December

(NA)

See note on page 80.
Graphs of these series are shown on pages 52 and 53.

'Based on national income and product accounts.

90




NOVEMBER 1984

itcn

OTHER IMPORTANT ECONOMIC MEASURES
GOVERNMENT ACTIVITIES-Continued

DEFENSE INDICATORS—Continued
National defense
purchases

Intermediate and final measures of defense activity
Year
and
month

557. Output of
defense and
space equipment

559. Manufacturers' inventories, defense
products

561. Manufacturers' unfilled
orders, defense
products

580. Defense
Department
net outlays

588. Manufacturers' shipments, defense
products

570. Employment in defense products
industries

(1967=100)

(Mil. dol.)

(Mil. dot.)

(Mil. dol.)

(Mil. dol.)

(Thous.)

Defense Department
personnel
577. Military,
active duty ©

578. Civilian,
direct hire
employment ®

(Thous.)

(Thous.)

564. Federal
purchases of
goods and
services

565. Federal
purchases as
a percent of
GNP

(Ann. rate,
bil. dol.)

(Percent)

1982
January
February
March

105.2
106.5
107.0

13,677
13,841
14,024

81,014
83,275
85,687

14,152
14,689
15,075

4,110
4,378
4,505

1,386
1,380
1,377

2,104
2,109
2,107

1,008
1,013
1,018

168^4

5.6

April
May
June

107.2
107.7
107.6

14,172
14,251
14,421

87,763
88,318
89,149

15,670
15,379
15,334

4,311
4,717
4,921

1,375
1,370
1,368

2,106
2,104
2,108

1,022
1,028
1,045

175.3

5.7

July
August
September

109.5
109.5
109.5

14,473
14,714
15,092

89,432
90,418
89,575

16,312
15,050
16,881

4,772
4,776
4,992

1,368
1,358
1,360

2,110
2,109
2,109

1,051
1,043
990

183'.3

6.0

October
November
December

111.9
113.6
115.9

15,402
15,594
15,938

90,534
91,326
96,654

15,972
17,087
16,779

5,020
4,977
5,082

1,356
1,354
1,350

2,108
2,114
2,113

1,016
1,024
1,027

191.0

6.1

January
February
March

116.4
116.1
117.0

16,545
16,458
16,774

100,886
100,716
102,234

17,058
16,772
16,804

5,187
5,275
5,233

1,344
1,346
1,342

2,120
2,122
2,127

1,024
1,028
1,030

194!7

6.1

April
May
June

118.2
117.6
118.0

16,782
17,185
17,295

104,234
103,804
106,114

17,529
16,854
17,189

5,309
5,235
5,382

1,345
1,349
1,354

2,123
2,120
2,116

1,029
1,040
1,049

199.3

e!i

July
August
September

120.4
120.2
121.8

17,400
17,803
17,508

107,287
106,908
106,596

16,975
18,455
17,463

5,577
5,482
5,466

1,361
1,344
1,364

2,113
2,115
2,123

1,053
1,052
1,026

200.9

6.0

October
November
December

122.9
124.0
125.7

17,358
17,363
17,759

107,522
110,839
112,761

17,781
17,329
18,726

5,640
5,687
5,678

1,369
1,369
1,378

2,120
2,126
2,124

1,034
1,040
1,045

207.2

6.0

January
February
March

128.3
129.5
130.1

17,812
18,217
18,537

113,650
115,087
120,894

18,448
17,801
17,794

5,718
5,852
5,731

1,382
1,391
1,400

2,130
2,135
2,140

1.042
1.043
1,046

213-. 4

6.0

April
May
June

133.2
133.1
133.5

18,925
19,492
19,989

121,158
121,088
122,100

18,525
18,609
18,953

5,985
5,749
5,977

1,408
1,420
1,433

2,138
2,141
2,143

1,049
1,061
1,071

220.8

6.1

135.9
rl36.8
rl38.0

20,776
21,263
22,206

123,319
124,774
rl25,223

18,405
19,181
rl9,469

5,993
6,129
r6,136

1,443
rl,452
pi,462

2,142
2,144
2,138

1,079
1,074
pi,043

r220.4

r6.0

P139.0

(NA)

pl23,638

pl8,688

p6,308

(NA)

p2,138

(NA)

1983

1984

July
August
September

,

October
November
December
See note on page 80.

Graphs of these series are shown on pages 54 and 55.

NOVEMBER 1 9 8 4



91

OTHER IMPORTANT ECONOMIC MEASURES

E

U.S. INTERNATIONAL TRANSACTIONS

Q [

Year
and
month

602. Exports, excluding
military aid shipments,
total

604. Exports of domestic agricultural
products

(Mil. dol.)

(Mil. dol.)

MERCHANDISE TRADE

606. Exports of nonelectrical machinery

(Mil. dol.)

612. General imports,
total

(Mil. dol.)

614. Imports of
petroleum and
petroleum products

(Mil. dol.)

616. Imports of
automobiles and parts

(Mil. dol.)

1982
January
February
March

18,584
18,614
18,462

3,258
3,590
3,225

4,346
4,054
3,997

22,573
19,570
20,018

6,810
4,396
4,290

2,389
2,135
2,596

April
May
June

18,005
18,124
18,823

3,400
3,527
3,332

3,932
3,957
4,211

17,714
20,477
21,187

3,894
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 / 5 5
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

17,232
16,312
16,690

3,128
2,985
2,811

3,644
3,359
3,499

20,127
18,804
19,528

4,166
2,859
3,261

2,329
3,019
2,676

April
May
June

16,095
15,655
16,959

2,891
2,715
2,977

3,513
3,433
3,265

19,914
21,446
20,916

3,252
5,284
4,203

2,746
3,001
2,851

July
August
September

16,486
16,582
17,257

3,072
2,973
3,322

3,655
3,290
3,718

21,828
22,714
22,451

5,220
4,828
5,538

2,988
2,762
2,547

October
November
December

17,033
17,063
17,298

2,979
3,109
3,175

3,689
3,686
3,683

24,333
23,115
22,976

5,232
5,036
3,713

3,154
3,425
3,724

January
February
March

18,326
17,212
17,727

3,457
3,198
3,336

4,009
3,848
3,764

26,586
26,147
26,771

4,456
4,258
5,287

3,776
3,323
3,728

April
May
June

17,522
17,950
17,633

3,030
3,245
2,715

3,811
3,976
3,746

28,368
25,569
25,356

6,348
4,783
4,671

4,011
3,682
3,630

July
August
September

19,442
18,036
18,177

3,236
3,022
3,153

3,790
3,878
3,640

31,883
26,567
29,430

5,103
4,049
4,444

4,010
3,648
4,681

October
November
December

(NA)

(NA)

(NA)

(NA)

(NA)

(NA)

1983

1984

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

92



NOVEMBER 1984

I t C I I

OTHER IMPORTANT ECONOMIC MEASURES

E

U.S. INTERNATIONAL TRANSACTIONS—Continued

GOODS AND SERVICES MOVEMENTS (EXCLUDING TRANSFERS UNDER MILITARY GRANTS)
Goods and services
Year
and
month

667. Balance

(Mil. dol.)

668. Exports

(Mil. dol.)

Merchandise, adjusted 1
669. Imports

(Mil. dol.)

622. Balance

(Mil. dol.)

618. Exports

(Mil. dol.)

Income on investments
620. Imports

651. U.S. investments abroad

(Mil. dol.)

(Mil. dol.)

652. Foreign
investments in
the United
States

(Mil. dol.)

1982
January
February
March

2,270

90,082

87,812

-7,064

55,482

62,546

20,889

13,653

April
May
June

3,729

91,274

87,545

-5,803

55,H8

60,921

22,307

14,772

July
August
September

-3,231

87,158

90,389

-12,363

52,079

64,442

21,505

14,390

October
November
December

-3,908

80,936

84,844

-11,239

48,5i9

59,758

19,162

13,243

January
February
March

-1,370

81,111

82,481

-9,277

49,246

58,523

17,6118

12,380

April
May
June

-7,712

81,355

89,067

-14,870

48,745

63,615

18,973

12,995

July
August
September

-9,703

84,826

94,529

-17,5oi

50,437

67,938

20,802

13,630

October
November
December

-14,127

84,910

99,037

-19,407

51,829

71,236

19,609

14,490

-17,526

90,689

108,215

-25,855

53,935

79,790

23,300

15,552

p-22,301

p88,745

pill,046

p-25,736

p54,597

p80,333

p20,618

pl6,956

(NA)

(NA)

(NA)

p-33,278

p54,990

p88,268

(NA)

(NA)

1983

1984
January
February
March
April
May
June

„.

July
August
September
October
November
December

See note on page 80.
Graphs of these series are shown on page 57.
'Balance o f p a y m e n t s b a s i s : E x c l u d e s t r a n s f e r s u n d e r m i l i t a r y g r a n t s and D e p a r t m e n t o f D e f e n s e sales c o n t r a c t s
of Defense purchases (imports).

NOVEMBER 1984



(exports) and D e p a r t m e n t

93

OTHER IMPORTANT ECONOMIC MEASURES
INTERNATIONAL COMPARISONS

Q |

INDUSTRIAL PRODUCTION
727. Italy, index
of industrial
production

723. Canada,
index of industrial production

721. OECD'
European countries, index of
industrial
production

728. Japan,
index ol industrial production

725. West
Germany, index
of industrial
production

726. France,
index of industrial production

722. United
Kingdom, index
of industrial
production

(1967 = 100)

(1967~100)

(1967 = 100)

(1967=100)

(1967 = 100)

(1967 = 100)

(1967 - 1 0 0 )

(1967-100)

January
February
March

140.7
142.9
141.7

153
154
154

232.7
231.4
233.4

153
154
156

157
155
155

118
118
118

161.9
169.9
165.6

155.5
153.8
152.2

April
May
June

140.2
139.2
138.7

153
153
151

230.5
228.2
231.4

154
153
151

157
157
157

119
120
119

164.7
162.7
154.9

149.4
150.2
147.0

July
August
September

138.8
138.4
137.3

150
148
150

230.5
230.7
231.8

148
150
148

154
154
154

119
120
120

159.6
146.4
154.0

142.4
148.6
144.6

October
November
December

135.7
134.9
135.2

148
150
148

225.7
230.7
228.4

146
146
145

155
157
154

120
118
120

149.8
155.4
151.9

140.5
141.1
140.3

January
February
March

137.4
138.1
140.0

150
150
150

229.5
228.0
232.7

146
148
150

157
155
155

122
122
120

152.0
152.2
149.4

147.7
147.6
148.3

April
May
June

142.6
144.4
146.4

150
151
153

233.0
235.2
235.9

150
150
156

155
160
157

122
123
120

142.1
144.4
144.4

150.0
151.7
155.0

July
August
September

149.7
151.8
153.8

153
153
153

236.4
242.3
245.0

150
150
153

rl59
rl59
157

124
124
rl25

153.8
148.9
148.3

156.9
159.1
162.0

October
November
December

155.0
155.3
156.2

153
156
154

244.5
247.7
250.9

154
156
157

155
rl62
160

125
125
127

150.2
154.0
149.3

162.7
164.1
165.3

January
February
March

158.5
160.0
160.8

rl58
rl58
156

251.4
260.2
256.4

157
159
154

rl62
rl60
rl62

125
125
124

151.9
150.4
155.9

168.4
163.2
165.3

April
May
June

162.1
162.8
164.4

rl53
156
151

257.7
263.9
265.2

154
156
140

157
162
rl59

123
122
122

149.4
rl54.9
156.2

165.9
167.1
168.3

July
August
September

165.9
166.1
rl65.2

158
pl58
(NA)

r266.4
r268.4
(NA)

161
pl57
(NA)

rl65
pl65
(NA)

120
pl20
(NA)

154.1
P156.2
(NA)

174.2
pl73.3
(NA)

October
November
December

P165.2

Year
and
month

47. United States,
index ol industrial production

1982

1983

1984

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

'Organization for Economic Cooperation and Development.

94




NOVEMBER 1984

itcn

OTHER IMPORTANT ECONOMIC MEASURES
INTERNATIONAL COMPARISONS—Continued

Q

Japan

United States
Year
and
month

320. Index

(1967 = 100)

©

320c. Change
over 6-month
spans'

(Ann. rate,
percent)

738. Index

(1967 = 100)

©

CONSUMER PRICES

West Germany

738c. Change
over 6-month
spans 1

(Ann. rate,
percent)

735. Index

(1967 = 100)

©

France

735c. Change
over 6-month
spans'

(Ann. rate,
percent)

736. Index

(1967 = 100)

©

United Kingdom

736c. Change
over 6-month
spans 1

(Ann, rate,
percent)

732. Index

(1967 = 100)

©

732c. Change
over 6-month
spans 1

(Ann. rate,
percent)

1982
January
February
March

282.5
283.4
283.1

3.5
4.4
6.0

300.7
299.8
300.4

1.9
0.5
0.1

192.3
192.8
193.1

3.0
3.5
4.9

356.0
359.6
363.8

13.0
12.0
12.0

499.0
499.1
503.5

8.4
7.3
6.0

April
May
June

284.3
287.1
290.6

6.2
6.2
6.6

302.9
303.8
303.8

-0.5
2.9
4.0

194.0
195.2
197.1

4.9
5.4
6.3

368.2
371.1
373.7

9.9
8.2
7.2

513.6
517.3
518.9

6.0
6.0
4.7

July
August
September

292.2
292.8
293.3

6.6
4.7
1.8

301.5
303.8
309.1

4.4
4.1
3.7

197.6
197.3
197.9

6.8
5.9
4.0

374.7
375.9
377.5

5.8
6.9
7.3

518.9
519.0
518.7

5.3
5.3
4.2

October
November
December

294.1
293.6
292.4

1.4
0.7
0.8

310.0
306.6
306.0

4.0
0.7
0.9

198.5
198.9
199.4

2.7
2.3
2.3

379.5
383.2
386.4

9.5
10.3
10.8

521.3
523.9
522.9

4.0
5.6
4.6

.293.1
293.2
293.4

1.4
2.3
3.3

306.6
305.5
307.5

-0.3
1.7
0.5

199.8
200.0
201.2

1.4
1.5
1.9

390.1
392.9
396.5

12.3
11.2
10.2

523.5
525.8
526.7

2.3
1.7
2.8

April
May
June

295.5
297.1
298.1

3.4
4.3
5.0

308.6
312.0
309.7

0.7
1.7
0.3

201.7
202.2
202.9

3.4
4.8
4.5

401.8
404.5
406.9

9.8
9.7
9.6

534.1
536.4
537.7

4.5
4.3
6.1

July
August
September

299.3
300.3
301.8

4.4
4.2
4.3

308.3
307.4
311.4

3.2
1.9
3.1

203.6
204.3
204.9

5.0
4.4
4.4

410.4
412.8
416.0

8.6
8.3
8.4

540.6
543.0
545.4

7.7
7.4
7.7

October
November
December

302.6
303.1
303.5

4.8
4.8
4.5

314.2
312.2
311.4

3.0
4.2
4.5

204.9
205.2
205.7

3.4
2.6
1.8

419.2
420.9
422.4

8.3
8.2
7.5

547.3
549.2
550.7

6.0
5.0
4.6

January
February
March

305.2
306.6
307.3

4.6
4.3
4.1

312.3
314.2
315.1

1.7
2.3
1.1

206.6
207.1
207.3

1.2
1.6
1.5

425.4
428.0
431.0

6.8
7.0
7.1

550.4
552.6
554.4

3.3
2.9
2.9

April
May
June

308.8
309.7
310.7

3.4
3.6
3.9

315.9
318.2
315.6

2.3
-0.3
0.1

207.7
207.8
208.6

1.0
0.7
1.1

433.6
436.2
438.4

6.8
7.0
7.0

561.8
563.9
565.3

3.2
5.1
5.0

July
August
September

311.7
313.0
314.5

3.7

316.2
313.4
318.5

(NA)

208.2
207.8
208.0

(NA)

441.5
443.7
445.9

(NA)

564.7
570.0
571.1

(NA)

October
November
December

315.3

.

1983
January
February
March

1984

(NA)

See note on page 80.
Graphs of these stries a n shown on page 59.

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

95
NOVEMBER 1984



itcn

(NA)

(NA)

(NA)

OTHER IMPORTANT ECONOMIC MEASURES
INTERNATIONAL COMPARISONS—Continued

Q

Canada

Italy
Year
and
month

737. Index

® 737c. Change
over 6-month
spans 1

(1967 = 100)

Q

CONSUMER PRICES-Continued

733. Index

© 733c. Change
over 6-month
spans 1

(Ann. rate,
percent)

(1967~100)

(Ann. rate,
percent)

STOCK PRICES

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

748. Japan,
index of
stock
prices ©

745. West
Germany,
index of
stock
prices ©

746. France,
index of
stock
prices ©

742. United
Kingdom,
index of
stock
prices ©

747. Italy,
index of
stock
prices ©

743. Canada,
index of
stock
prices ®

(1967 = 100)

(1967 = 100)

(1967 = 100)

(1967 = 100)

(1967-100)

(1967~100)

(1967-100)

1982
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

rl59.1
rl65.0
rl79.1

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

rl88.7
r200.4
rl96.8

410.4
403.7
426.1

115.8
111.6
110.3

240.0
251.8
260.2

July
August
September

638.5
641.1
649.4

13.6
12.5
12.0

322.9
324.5
324.5

5.8
5.7
5.3

181.6
176.7
181.8

598.7
606.4
619.7

169.0
166.9
164.7

r206.1
r220.2
r224.9

418.9
431.8
422.6

112.9
120.5
118.4

264.3
267.3
272.0

October
November
December

660.4
667.0
670.3

11.1
11.0
11.1

326.5
326.5
327.5

5.4
4.9
4.4

182.4
179.7
178.8

621.0
621.5
638.6

173.4
176.7
179.2

r225.3
r239.5
r247.6

411.2
424.1
432.6

111.6
112.7
112.8

251.1
273.6
268.6

January
February
March

678.3
685.8
690.6

10.7
10.7
11.1

329.2
331.1
331.9

4.3
4.2
3.0

181.0
171.1
171.3

687.6
699.6
736.1

185.3
182.3
178.4

r275.9
r263.4
261.1

457.2
457.2
485.3

125.3
128.7
128.5

259.5
259.5
260.0

April
May
June

695.4
699.6
703.8

10.0
9.8
8.3

332.7
333.3
334.7

2.9
2.5
3.2

171.4
170.3
166.6

776.0
744.6
711.2

177.9
178.0
175.8

285.4
277.1
272.3

495.0
489.6
468.7

124.9
122.5
119.6

252.0
p245.6
p242.6

July
August
September

705.9
708.0
713.0

7.0

336.6
336.6
336.9

2.3

164.3
178.9
180.7

701.3
728.8
738.6

167.2
172.0
178.3

r256.7
r274.3
r237.0

447.5
478.6
497.0

121.4
128.7
127.6

p2 3 4 . 0
P252.5
p256.6

October
November
December

720.1

179.3
P181.2

rp759.6
p786.7

185.2
pl86.9

rp295.0
p294.9

rp503.6
P522.4

pl26.7
P127.6

1983

.......

1984

337.5

rp257.1
p259.6

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

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

96




NOVEMBER 1984

itcn

APPENDIXES
B. Current Adjustment Factors
series
Mar.

Apr.

May

June

July

Jan.
144.9

1 3 . New business incorporations

1

103.3

91.0

92.7

84.1

90.0

107.0

99.7

5 . Average w e e k l y initial c l a i m s , State
unemployment insurance

Feb.

96.1

106.7

100.6

106.2

102.1

99.9

1 5 . Profits after 2
taxes per dollar of sales,
manufacturing

95.6

1 3

Sept.

Oct.

Nov.

Dec.

86.8

81.9

91.4

102.5

124.6

103.1

90.9

105.8

92.8

100.8

Aug.

101.3

106.2

97.0

-1775

-1863

-1408

-237

-285

1370

54

1362

586

1031

885

485

100.5

99.9

99.7

99.7

99.7

99.5

99.8

99.6

100.0

100.3

100.4

100.9

113.3

96.3

106.8

100.1

89.8

87.3

88.5

85.7

120.7

116.5

95.3

100.3

90.6

84.6

108.1

95.2

92.3

80.1

78.5

77.8

189.9

97.2

99.9

104.5

543. Defense Department gross unpaid
obligations outstanding

103.3

102.7

102.7

103.2

101.3

98.7

97.1

94.0

97.7

99.2

99.5

100.3

570. Employment in defense products industries .

100.3

100.1

100.1

99.9

99.8

100.0

99.9

99.4

100.0

100.0

100.2

100.4

96.4

100.8

106.5

98.3

104.1

100.9

99.4

101.5

94.3

100.1

100.5

101.1

102.6

105.1

114.6

105.0

98.4

94.4

83.1

85.6

92.5

102.2

108.8

107.6

91.4

91.0

110.7

100.3

101.6

106.8

102.7

96.1

101.5

105.3

95.9

96.6

100.8

105.3

91.4

82.7

89.8

103.4

100.4

113.1

97.5

118.7

102.2

97.2

103.6

99.9

108.1

101.8

118.4

104.5

94.7

93.5

78.3

108.0

100.1

91.6

3 3 . Net change in mortgage d e b t

7 2 . Commercial and industrial loans
outstanding in current dollars*
5 1 7 . Defense Department gross obligations
1
incurred
5 2 5 . Defense Department prime contract awards

.

5 8 0 . Defense Department net o u t l a y s '
6 0 4 . Exports of domestic agricultural products .
606. Exports of nonelectrical machinery
6 1 4 . Imports of petroleum and p r o d u c t s
6 1 6 . Imports of automobiles and p a r t s

1

1

. . . .

NOTE: T h e s e series are seasonally adjusted by the Bureau of Economic Analysis rather than by the source agency. Seasonally adjusted data prepared by the source agency will be used in BUSINESS CONDITIONS
DIGEST whenever they are a v a i l a b l e . For a description
of the method used to compute these f a c t o r s , see Bureau of the Census Technical Paper N o . 1 5 , THE X-ll VARIANT OF THE CENSUS
METHOD
II SEASONAL ADJUSTMENT
PROGRAM.
'Factors are the products of seasonal and trading-day f a c t o r s .
Q u a r t e r l y series; factors are placed in the middle month of the q u a r t e r .
'These q u a n t i t i e s , in millions of d o l l a r s , are subtracted from the month-to-month net change in the unadjusted monthly totals to
yield the seasonally adjusted net c h a n g e . These factors are computed b y the additive version of the X-ll variant of the Census Method II seasonal adjustment p r o g r a m .
'These factors apply to only the loans portion of this series.




97

C. Historical Data for Selected Series—Continued
Year

Jan.

Feb.
31.

1930...
1951...
1952...
1953...
1954...
1955...
1956...
195 7 . . .
1956...
195 9 . . .
1960...
1961...
19(2...
1963...
1964...
1965...
1966...
1967...
1968...
1969...
1970...
1971...
1972...
1973...
1974...
1975...
1976...
1977...
1978...
197 9 . . .
1980...
1961...
1982...
1983...
1984...

1.9
29.2
5.7
19.6
-4.7
4.5
9.1
6.6
•16.5
0.5
9.5
-3.5
7.0
2.2
6. S
11.5
10.2
12.9
11 . 3
11 . 0
0.3
10.2
7.0
,12.2
43.1
13.6
110.6
28.2
36 . 5
59.5
66.3
37 . 5
-21.7
-40.0

Mar.

-O.J
17.8
-1.1
2.2
-3.5
3.2
12.7
2.4
2.9
3.7
12.5
-2.6
7.0
3.7
4.5
6.4
17.7
7.1
9.6
16.1
12.7
11.5
7.7
28.9
38. 8
-8.4
27.4
33.9
39.3
58.2
60.4
64.5
-18.7
10.0

5.3
18.4
-0.2
5.4
-3.8
7.6
5.1
1.9
-5.7
5.3
9.2
-6.4
7.8
2.7
5.1
15.4
14.2
8.9
6.8
15.7
8.1
15 . 3
10.2
28.0
51.9
- 1 1 .7
26 . 5
36.0
62.3
44.8
59.4
29.9
- 3 .0
-44.1

54.

1950...
1951...
1952...
1953...
1954...
1955...
195 6 . . .
1957...
195 8 . . .
1959...
I960...
1961...
1962...
1963 . . .
1964...
1965...
1966...
1967...
196 8 . . .
196 9 . . .
1970...
1971...
197 2 . . .
1973...
1974...
1975...
1976...
197 7 . . .
1978.. .
1979...
1980...
1981...
1982...
1983...
1984...

33 6 3 2
45 2 4 2
43 2 7 9
4 7 '.'60
4 5 <J6 8
49 320
53,110
56.568
54 173
37 8 3 3
62 107
58 612
64 443
66 555
71 6 4 3
77 1 2 3
84 827
88 945
95.04 9
101 595
106 6 9 0
110 955
123 106
144 9 » 3
166 356
179 416
194 156
217 4 3 1
236 424
27 9 2 2 4
322 530
356 245
3 4 1 5 93
345,890

Apr.

3.6
16 . 6
-2.2
8.7
-4.6
0.8
13.1
3.7
-9.5
14.2
0.2
0.1
1.8
1.2
6.9
7 .4
12.2
6.6
14.5
12.2
15.2
12.2
15.2
26.7
34.7
-0.9
29.1
39.8
60.4
66.4
79.0
16.1
23.7
10.7

53 3 7 8
62 759
59 929
67 2 3 7
64 027
69,147
73.309
75 0 2 1
70 0 3 5
74 544
79 391
74 928
81.905
84 3 3 9
89 8 3 3
96 2 5 1
103 2 2 8
105 276
110 6 4 2
114 4 1 2
115 395
116 141
125 345
140 437
142 051
130 465
136 722
145 2 4 6
149 959
161 3 4 4
163 967
161 9 3 7
151 294
154 406

34 464
34 8 9 3
44 5 8 3
43 983
43.664
43 2 9 6
48 392
4 8 987
46 435
46 1 8 3
49 828
50 744
52 8 7 4
53 2 3 5
57 0 0 6
56 5 97
53 1 0 2
52 493
58 621
59 3 7 9
61 713
61 2 7 4
59 884
5 9 931
64 423
65 3 1 0
67 , 6 7 9
67 7 7 4
71 4 4 2
71.616
7? 347
78 986
87 1 7 9
85 3 3 3
88 335
88 8 3 1
95 0 9 4
95,883
102,213 103,090
107 1 5 8 1 0 6 , 3 9 4
1 1 2 191 1 1 3 1 5 3
122 6 1 4 124 722
147 1 4 2 148 545
168 5 1 8 172 005
1 7 8 . 7 2 4 1 7 3 , 7 83
196 244 1 9 7 . 9 5 8
1 2 1 , 2 7 3 224 998
2 4 3 35 5 2 4 6 6 2 7
280 7 7 9 290 886
323 824 318 705
35 6 6 7 0 3 5 6 , 5 0 7
347 076 346 824
3 4 2 7 4 2 34 8 2 2 7

54,487
61 1 1 4
60 393
68.165
6 4 7 86
69 727
72 733
7 5 306
6 8 806
7 5 '741
78 992
75 1 4 4
81.915
85 5 9 1
89 9 1 6
96 5 7 9
103 401
104 807
110 169
114,799
1 1 5 6 88
117 113
124 342
141 1 0 9
141 4 1 9
130 401
137 4 6 6
146 803
15) 698
160 5 9 8
162 3 1 4
161 6 91
154,569
153 1 1 8

June

Aug.

July

8.3
14.5
-4.5
3.9
-3.8
6.0
8.0
-0.1
-6.8
6.1
6.8
0.9
9.0
5.4
4.7
8.2
18.9
5.2
16.1
16.7
-0.5
13.6
20.4
34.9
57.3
-13.7
30.2
27.5
41.4
54.3
33.9
49.2
-52.7
9.3

55 2 0 8
60 0 1 7
60 220
68 894
64 4 3 5
71 1 0 6
73 0 4 7
74 7 7 4
67 7 88
76 6 2 4
78 497
76 4 4 6
83,031
85 6 92
89 6 5 3
98 4 9 1
U S 038
105 >33
1 1 0 7 81
1 1 5 3 88
114,637
1 1 7 7 80
126 127
140 651
142,020
126,653
138 305
148 043
134 342
164 158
158 487
161 5 2 1
1 5 4 775
1 5 5 3 85

35 4 7 4
43 2 5 0
43 76 7
4 8 93 5
46 6 4 0
51 3 3 4
53 6 6 0
55 7 7 0
5 2 2 86
60 322
61 6 3 7
59 467
65 4 6 1
68 420
72.744
79 42 9
86 731
8 8 871
95 9 4 4
103,863
105 . 8 4 7
114 0 3 0
125 8 3 4
149 591
173 6 5 0
176,717
200.092
226 , 7 7 4
256 . 8 7 6
286 . 0 4 9
313 . 6 5 7
359,240
345,177
351,012

36 6 86
43.566
44 228
48 904
45 8 6 6
51,467
53,768
55,651
52 4 5 7
60 9 7 5
60 6 4 9
60 1 7 7
65.429
68 222
73 4 5 0
79 241
86 2 9 5
89 0 7 1
96.750
103 9 1 8
107 2 5 6
114 993
127 216
1 5 0 5 92
176 022
176 925
2 0 0 3 95
227 261
25 8 7 0 5
2 96 5 1 6
310 887
35 7 6 3 3
350 022
360,488

38 462
43.172
44 346
48 398
46 3 4 9
51,645
54,124
56,119
53 3 1 5
61 1 3 4
60 6 0 4
61 1 3 4
65,041
66.792
73 0 6 3
79 3 6 3
87 3 6 7
89 7 3 1
97.752
104 453
107 9 2 0
116 9 6 6
127 8 2 8
151 5 5 3
177 805
179 872
204 186
229 174
260 606
294 6 2 8
310 471
357 6 5 8
345 717
368,971

57,205
59 4 9 4
6 1 6 83
68 575
63 8 6 9
72 1 7 3
73,009
73 3 7 5
67 7 6 6
78 627
77 831
77,047
83 0 9 6
85 8 8 0
92 1 5 5
97 8 6 3
103 6 6 8
105 6 8 3
111 3 93
115 5 5 2
U S 060
119 010
128 175
139 417
142 188
128 6 8 8
139,015
148 666
159 192
164 2 2 0
153 7 7 8
1 6 0 5 95
155 152
159,952

59,549
59 0 6 0
61 B21
67 7 6 9
64 . 7 1 3
72,160
73.331
73 8 2 4
68 991
78 6 8 6
77 7 6 8
78 412
82 6 5 7
86 6 7 3
91 8 5 4
98 149
104 , 9 2 8
105 , 7 3 0
112 226
115 8 2 0
115 520
120 5 1 0
128 4 1 8
139 0 5 9
141 776
130 030
140 575
149 543
159 3 6 8
162 , 0 7 3
153 ,7 99
161 2 4 9
152,840
163 , 6 0 0

IN

98

43 205
4 2 80 7
44 2 8 8
4 8 185
45 7 98
51 7 84
53 6 9 6
5 6 6 82
5 4 843
59 2 0 6
59 9 3 9
62 0 6 8
66,026
69 497
74,176
80 5 5 0
88 190
91 0 0 6
97 8 3 7
105,875
107.998
116 3 8 9
131 0 9 0
154 4 4 4
184 007
185,079
205,889
231 047
26 6 2 1 2
302 966
325 3 3 1
359,165
341 974
373 283

1972

63 9 9 6
57 8 9 3
60 4 9 9
6 8 6 84
64 486
72 4 3 6
70 2 0 6
73 5 2 5
6 9 715
78 403
77 4 0 6
77 5 2 0
83,032
87,967
93 3 1 7
99 9 0 8
104 306
105 6 1 !
113,689
116 3 1 9
115,497
119 624
128 656
141 031
1 4 1 6 83
131,127
140 920
150 1 2 8
158 843
162 964
1 5 5 7 45
160,428
1 5 2 873
162,835

NOTE:
Unless o t h e r w i s e notod, these series contain revisions beginning with
' T h i s s e r i e s c o n t a i n s rev 1s-Jens b e g i n n i n g w i t h 1 9 7 6 .




Sept.

Oct.

Nov.

Dec.

1 Q

17.8
0.1
10.8
2.6
-0.9
5.0
8.0
5.6
4.3
-4.8
1.9
4.9
8.7
6.7
13.9
4.8
13.8
6.9
10.1
16.5
7.7
12.5
19.4
24.0
64.7
16.6
49.9
46.4
41.3
16.1
28.9
40.1
-18.3
3 ! .4

41,024
42,703
45,721
47,828
45 , 8 4 2
52,907
54,439
55,801
54,980
59,377
60 , 5 1 8
62,179
66,142
69,485
75,051
80,662
88,085
90,806
98,797
106,686
108,580
117,262
132,829
154,695
183,997
186,963
207,579
232,321
266,934
305,308
334,763
357,138
342,109
379,229

24 . 0
2 5
5 8
-7 1
4 2
7 0
10.7
-2 1
3 5
-1 1
0 6
7 3
0 5
4 9
9 0
9 1
17 0
13 8
8 0
8 4
10 0
-1.0
18 8
40 4
54 5
-2.5
25 . 6
37 8
55 2
35 2
29 5
42 2
-66 8
27 4

17.4
3 2
3 7
-3. 4
-0 3
7 3
4 4
0 8
6 5
11. 9
-13. 6
1 2
1 3
0.5
8 9
9.7
14 2
13 4
8 1
13 4
3 0
14 9
16 1
53 9
57 7
4 6
28 0
40 4
60 2
43 4
38 4
-13 5
-26 2
34 6

40,665
43,193
47 139
47 5 4 0
46 o n
52,842
55,209
55 513
55 3 2 1
59 2 3 4
60 3 7 3
63 1 0 4
66,546
70 4 4 8
73 709
81 6 93
88 3 4 8
90 5 5 7
100,557
108 151
107 175
117 365
135 4 2 4
159 045
183 638
188 060
205 854
234 565
272 767
309 012
343 5 9 8
352 218
336,574
382,457

39 880
43 140
46,853
46,333
47,465
53 2 4 8
55 6 1 3
5 4 946
5 6 7 BO
59,049
59,728
63 7 4 2
67 3 9 5
69 655
74 669
83,254
88 0 3 8
93 0 2 9
101 4 8 7
107 265
105 933
1 1 9 797
138 4 2 0
162 874
183 173
188 008
210 304
237 3 4 9
275 0 2 1
310,406
3 4 6 25 9
3 4 9 607
33 9 3 4 4
386 564

43,028
42,733
47,496
45,602
48,603
53,391
56,255
53,83 7
57,209
60,924
59,668
64,131
66,297
71,149
77,226
83,965
88,275
95,521
101,196
107,505
109,508
121,380
141,300
162,988
178,856
190,195
216,681
240,716
277,513
312,491
349,806
346,228
338,065
395,682

59,609
59,731
65,902
66,422
64,675
73,048
73,726
72,696
72,388
75,911
77,448
80,707
84,204
88,464
92,311
100,419
105.032
105.993
114,201
118,558
112,985
120 , 3 0 7
134 , 3 0 8
141,917
136,219
132,533
139,880
151,999
161 , 9 0 5
162,093
160 , 6 1 1
156,808
149,396
166,410

57,766
59,579
65,634
64,806
66,600
73,631
74,094
71,739
73,512
7 5 ,85 8
76,432
81,464
85 , 3 8 2
87,382
93,336
101,807
104,659
108,632
114,882
116,841
111,314
122,580
136,194
143,785
134,143
132,486
142,600
152,665
162,217
160 , 8 3 9
160,311
155,967
131,182
168,444

61 016
5 8 975
66 8 6 2
63,706
68 159
73 7 1 9
74 7 9 9
70 1 6 7
71,670
77,973
76 4 7 2
81 7 88
83 942
89 304
96 5 2 0
102 186
105 0 1 4
111 1 2 3
114 176
1 1 6 83 8
114 727
123 611
137 923
141,555
130 0 0 2
1 3 3 721
145 3 3 4
153 890
162 380
161 , 2 1 8
160,531
1 5 4 151
1 5 0 6 84
171 8 1 2

2 3
21 8
1.5
9 1
-4 0
5 1
9 0
3 6
-6 4
3 2
10 4
-4 2
7 3
2 9
5 4
11 1
14 0
9 6
9 2
14.3
7 1
12 3
8 3
29 7
44 6
-2 2
24 9
32 7
46 1
54 2
62 0
44 0
-16 8
-24 7

1977.

6 0 , 894
59,313
63,820
66,729
64,431
73,336
73,135
73,046
71 , 2 7 5
75,679
77,846
79,631
8 3 , 3 89
87,396
94,014
99,389
1 0 4 , 7 86
106,606
112,615
117,435
114,984
120,471
131,980
138,644
138,289
132,541
141,045
151,270
160,135
162,257
158,616
159,179
151,628
165,070

IV Q

6.4
13.5
-1.5
6.1
-4.3
4.9
9.2
1.5
-6.0
10.4
3.2
0.0
5.6
4.1
5.7
8.6
17.2
4.9
13.5
13.5
9.2
10.4
14.4
31.2
50.3
-6.7
36 . 0
30.4
47 . 7
59.5
44.3
33.4
-5.1
5.0

12
3
2
5
-3
6
6
5
0
1
1
4
6
5

2
6
3
0
5
8
4
2
0
8
4
2
4
9
; 1
9.8
15 7
8 4
10 4
14 9
11 6
11 6
17 3
24 9
57 3
12 4
33.7
34 1
39.5
45 1
29 6
36 3
-13.0
25 . 5

Annual

10.3
10 . 4
2.1
3.7
-2.9
6.4
7.8
1.8
-1.9
5.0
2.6
0.9
5.5
4 .4
6.0
9.4
15.9
8.0
10. 9
13.6
8.2
10.2
14.2
31.3
52.6
2.6
30.2
32 . 5
47.4
51.1
41.9
32.2
-18.1
8.8

20. 5
2 8
6 3
-5. 2
0. 0
8 5
6 7
-3 3
4 6
4 8
-4 7
3 5
2 7
4 8
5 9
8 2
16 6
9 1
10 5
11 8
5.0
6.5
16 7
39 4
58 1
6 7
26 1
32 8
56 2
45 6
31 6
IS 1
-37.4
29.4

TOTAL FOR PERIOD
123,573
102,989
110,622
126,283
129,066
133,808
129,988
127,592
141,488
133,461
130,239
132,341
146,237
145,385
139,475
145,139
138,586
137,820
142,079
138,855
149,892
159,481
154.446
156,376
167,077
159,219
161,552
159,939
164,296
170,171
167,540
168,616
159,768
169,310
158,058
163,581
175,833
179,207
182,431
17 9 , 1 2 0
185,094
179,769
182,890
1 80 , 6 80
190,977
177,427
180,778
164,850
200,238
194.17 6
195,931
197,492
202.008
211,25 2
205 , 4 3 4
208,909
214.701
219,257
223,463
225,604
233,456
248,912
238,033
241,946
264,661
257,389
260,393
263,297
279,107
267,673
2 6 6 , 111
271,496
303,240
286,026
290,446
295,626
306,938
312,234
322,921
317,793
320,202
322,616
321,023
324,887
358,542
336,299
345,989
350,107
370,442
415 , 1 4 4
3 80,87 8
392,438
484,907
440,670
451,736
463,006
527,477
506,879
550,069
545,667
S31.923
533,514
566,263
554,860
389,058
632,839
604,673
618,957
712,630
663,703
693,260
683,209
825 , 3 0 1
726,406
776,187
793,278
931,909
85 0 , 8 8 9
877,193
908,393
965,059
935,015
980,044 1039,663
1069,422 1074,531 1074,834 1048,113
1035,493 1040,916 1029,746 1013,983
1036,859 1080,471 1122,693 1164,703

DOLLARS 1

6 4 897
59 351
61 7 2 8
67 3 0 2
64 0 9 6
72 152
72 4 7 8
74 0 2 0
70 9 1 2
75 9 5 4
76 9 9 0
79 314
83 6 0 9
87,344
93 0 8 6
99 3 4 5
104 9 7 0
107 2 4 2
111 9 8 6
116,902
115 117
119 355
130 745
138 5 6 4
139,976
131,590
140 863
150 907
1 6 0 7 83
163 0 9 5
155 6 2 0
160,504
152 012
163 471

III Q

II Q

AVERAGE FOR PERIOD

20.0
2 8
9 3
-5 0
-J 8
11 3
5.0
-8 6
3 8
3 5
-1 0
1 9
6 2
9 1
-0 2
5 7
18 6
0 1
15 3
13 7
2.1
5.5
15 3
23 8
62 1
18.1
24.6
20.3
53 1
58 3
27 0
16 7
-19.2
26 2

CURRENT DOLLARS

42 054
42.082
43 4 5 2
49 372
46 1 8 0
51 8 8 5
31 8 0 4
56 1 3 1
53 7 5 8
60 537
60 223
60 603
65 3 2 4
69,927
74.236
80 7 3 4
87 0 2 2
89 6 84
98.992
105 2 3 2
108,309
116.456
128 519
153 867
182 065
182 , 818
205.489
219 892
260 132
300 119
319 950
358,531
345 663
3 7 0 1 81

MANUFACTURING AMD TRADE SALES
( M I L L I O N S OF DOLLARS)
55 8 5 3
58 9 7 8
60 987
68 879
6 4 95 8
71 8 6 9
73 2 1 3
73 6 3 6
67 5 0 9
77 7 5 8
78 900
75 8 7 8
83 1 0 7
86 5 0 8
91 1 2 9
98 749
1 0 4 151
105 6 0 3
110 918
115 929
113,809
118 178
127 177
140 276
142,246
128,321
139 169
148 176
159 133
160 0 7 9
155 299
162,170
153 4 4 7
155 865

21 . 9
5.2
-1.0
2.8
-5.4
8; 9
5.4
7.0
-1.8
1.9
-2.1
5.4
5.8
5.8
4.7
12.0
17.2
12.3
15.1
13.9
12.3
13.2
24.8
24.0
46.7
14.5
19.6
36.7
43.4
35.1
26.1
38.6
-23.6
34.9

-3.2
5.4
-3.0
9.5
-4.2
6.6
5.7
3.0
-2.4
8.4
4.5
2.4
4.6
5.3
2.7
12.3
16.0
5.9
6.0
14.4
14.7
9.0
7.6
26.6
60.4
6.1
31.7
19.1
33.9
84.0
33.8
30.2
2.8
9.2

7.3
9.4
2.2
5.7
-4.6
8.0
6.4
0.9
-1 . 7
10.8
2.5
-1.1
5.9
5.6
5.6
10.3
20.3
3.0
10.0
11.7
12.8
5.4
7.6
32.0
58.9
-5.5
48.7
23.9
41.4
57.7
20.1
34.9
13.8
-5.0

MANUFACTURING AND TRADE SALES IN
( M I L L I O N S OF DOLLARS)

57.

1950...
1951...
1932.. ,
1953...
1954...
1 95 5 . . .
1 956 . . .
195 7 . . .
1956...
1 95 9 . . .
1960...
1961...
1962...
1963...
1964...
1965...
1966...
1967...
1968...
1969...
1970...
1971...
1972...
1973...
1974.. .
1973...
1976...
1977...
1978...
1979...
1980...
1981...
1982...
1983...
1984...

May

OF MAH1! FACTDRIR G ARB TRADE 1 H V 8 N T 0 R I B S . TOTAL
t 5 0 * VALU
(ANNUAL B A T S . BILLIONS OF DOLLARS)

CHA RGB 1M

TOTAL FOR
163 073
183 890
180,742
204,296
193 248
2 0 9 980
219 089
2 2 5 101
206 629
226,909
236 880
226 518
2 4 6 851
255 622
26 9 4 0 2
291 321
311 667
315 4 1 6
331 592
344 599
345 720
351 034
375 814
4 2 2 197
4 2 5 4 90
387 519
412 493
4 4 0 0 94
45 7 9 9 9
486 300
4 8 4 82 8
485 149
460 638
4 6 2 90 9

172 607
177 532
184 491
205 2 2 3
193 5 4 0
216 202
219 553
2 2 0 835
2*04 2 6 6
233 071
234 4 9 9
231 337
2 4 8 860
25 9 0 6 1
275 138
294 761
312,153
317 , 0 1 6
334 537
3 4 7 301
344 389
357,698
383,770
41 8 1 5 2
426 210
387 039
4 1 8 759
4 4 6 , 3 85
477,693
486 372
4 6 2 B16
484 014
461 439
4 7 9 411

1 8 9 7 87
176 557
186 0 4 7
202 715
193 0 1 3
211 924
215 819
220 591
211 902
230 036
232 242
236 465
250 030
2 6 2 107
280 417
298 6 4 2
314 , 0 6 1
319,460
3 3 8 290
350 656
345 598
359,450
391,381
418,239
419 948
395 258
4 2 2 828
452,305
479 761
488 316
470 0 4 1
4 8 0 111
456,513
491 336

1
1
1
1
1
1
1
1
2
2
2
1
3
3
3
4
4
4

463,467
520,454
537,529
576,236
557,340
620,395
647,787
670,623
650,717
716,591
728,433
734,032
787,837
827 , 6 0 3
883,025
962,347
043,740
084,387
175,338
259,886
288,728
, 3 9 0 , 937
558,902
840,319
130,092
186,560
445 , 5 2 7
752,802
121,172
5 6 8 , 3 84
, 919,781
266,900
120,138
404,726

PERIOD
178,391
178,285
198,416
194,934
199,434
220,398
222,619
214,602
217,570
229,742
230,352
243,95 9
253,528
265,150
282,167
304 , 4 1 2
314,165
325 , 7 4 8
343,259
352,237
339,026
366 , 4 9 8
408,425
421,2S7
400,364
398,740
427,814
43 8 , 5 5 4
496,502
484,150
481,114
466,926
451 ,262
506,666

703,858
716 264
749 698
807 1 6 8
7 7 9 235
864,504
877,080
881 1 2 9
840 3 6 7
921 7 5 8
933 9 7 3
938,279
999,269
1 042 540
1 107 1 2 4
1 189 136
1 253 141
1 217 6 4 0
1,347 678
1 3 9 4 7 93
1 374 733
1 436 680
1 559 390
1 , 6 8 6 445
1 672 012
1 5 6 8 556
1 6 8 1 894
1 797 3 3 8
1 901 955
1 945 1 3 8
1, 899 469
1 916 2 0 0
1 829 852
1 940 368

(NOVEMBER

1984)

C. Historical Data for Selected Series—Continued
Year

Jan.

Feb.

Mar.
70 .

1950...
1951...
195 2 . . .
1953...
1954...
1955...
195 6 . . .
195 7 . . .
1 95 8 . . .
1 95 9 . . .
1960...
1961...
1962...
1963...
1964...
1965...
1966...
1967...
1968.. .
1969.. .
1970...
1971...
1972...
1973...
1974...
197 5 . . .
1976...
1977...
1978...
197 9 . . .
1980...
1981...
1982...
1983...
1984...

79
88
99
105
106
102
107
113
112
111
118
119
122
128
133
140
150
166
174
182
190
194
200
209
222
231
225
235
247
261
264
264
26 8
25 7

68
45
29
30
26
94
80
45
03
57
30
62
32
10
81
92
14
74
62
62
53
65
40
82
14
80
58
70
15
05
71
21
00
82

79
89
99
105
105
103
108
113
111
111
119
119
122
128
134
141
151
167
174
183
191
195
200
210
222
230
226
236
248
261
264
265
267
257

50
15
22
54
93
01
85
26
52
94
40
30
94
50
20
44
60
60
93
55
27
11
46
93
93
13
48
44
26
76
B4
37
06
60

80
90
99
106
105
103
109
113
111
112
120
118
123
128
134
142
152
168
175
184
191
196
200
211
224
229
227
237
250
262
264
265
266
256

71 .

1 95 0 . . .
1951. ..
195 2 . . .
1953...
1954...
195 5 . . .
1956...
195 7 . . .
195 8 . . .
1 95 9 . . .
1960...
1961. . .
1962...
1963...
1964.. .
1965...
1966...
1967...
1968.. .
1969...
1970...
1971...
197 2 . . .
1973...
1974...
197 5 . . .
1976...
1977...
1978.. .
1979...
1980...
1981...
1982...
1983...
1984...

49
62
70
74
75
73
80
87
87
87
92
94
96
101
106
112
121
137
145
156
169
178
188
204
236
286
290
320
354
403
455
494
521
502

66
26
72
01
73
55
27
85
67
14
92
43
18
24
02
46
76
86
74
61
39
41
35
63
83
94
10
90
10
42
06
55
24
21

77.
1950...
1951...
195 2 . . .
1953...
1954...
1955. . .
1 95 6 . . .
195 7 . . .
1958...
1 95 9 . . .
1960...
1961...
1962...
1963...
1964...
1965...
1966...
1967...
196 8 . . .
196 9 . . .
1970...
1971...
1972...
1973...
1974...
1975...
1976...
1977...
197 8 . . .
1979...
1980...
1981...
1982...
1983...
1984...

1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1

49
63
70
74
75
73
81
88
87
87
93
94
96
101
106
112
123
138
146
157
170
179
188
207
240
286
292
323
357
40 8
460
499
519
503

RATIO

49
41
66
57
66
49
47
51
60
50
49
60
49 .
52
49
46
45
58
58
60
65
68
60
49
56
78
65
62
65
62
61
63
77
67

1
1
1
1
1
1
1
1
1
1
' 1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1

63
74
63
19
44
82
33
05
92
44
96
21
76
56
40
99
24
45
54
95
44
36
99
04
06
24
39
72
38
27
10
93
67
04

Apr.

08
18
32
01
51
71
04
23
20
51
32
85
77
97
63
99
93
44
02
31
57
12
92
53
44
84
53
08
48
18
96
34
85
06

80
91
99
106
105
103
n o
113
110
113
120
118
123
129
135
143
153
169
176
185
192
196
201
212
224
228
228
23 8
252
263
266
265
267
255

42
52
33
98
00
60
09
51
68
86
11
84
84
11
27
61
90
10
10
04
54
76
80
37
97
08
50
13
37
06
68
15
45
89

81
93
99
107
104
104
110
113
110
114
120
118
124
129
135
144
155
169
177
186
192
197
203
213
226
226
229
23 9
253
264
266
266
265
256

50
65
70
74
75
74
81
88
87
87
94
93
97
101
106
114
124
139
147
159
171
180
189
209
244
285
2 94
326
362
412
465
502
519
499

07
27
62
64
12
45
75
21
44
89
73
68
41
78
82
28
42
19
10
26
12
64
84
37
39
27
60
72
58
00
05
42
42
37

50
66
70
75
74
74
82
88
86
89
94
93
97
101
107
114
125
139
148
16D
172
181
191
211
247
285
297
330
367
417
471
503
521
500

1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1

45
50
65
54
64
46
49
51
64
47
53
55
49
50
50
45
46
60
58
60
67
67
59
50
58
81
65
60
62
60
67
64
72
65

1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1

37
65
43
37
74
52
84
52
65
07
74
68
56
88
39
89
44
74
31
28
38
66
11
60
28
19
02
04
62
54
63
77
40
26

51
67
70
75
74
75
83
88
86
89
95
93
98
102
107
115
127
140
149
161
172
182
192
214
252
284
299
332
371
422
474
507
517
501

30
14
09
31
59
23
70
50
20
29
62
95
65
58
60
18
38
43
40
13
13
44
08
24
25
54
23
07
35
13
82
11
30
22

81
94
99
107
104
105
111
113
109
115
120
119
125
130
136
145
157
169
177
186
192
198
203
214
227
227
231
23 9
253
264
265
266
265
255

97
42
72
76
05
19
20
64
99
16
84
03
26
30
24
08
09
51
94
67
81
06
36
25
96
12
11
78
79
81
88
69
53
65

06
87
05
69
42
02
51
51
08
58
31
75
31
33
78
58
02
18
65
67
34
80
81
50
06
04
54
33
07
06
46
86
01
04

51
68
70
76
74
75
84
88
85
90
95
93
98
102
108
116
128
140
150
162
173
183
193
217
256
283
303
334
374
426
476
510
518
500

67
65
23
17
04
69
04
58
94
48
52
66
81
80
25
44
72
43
48
65
41
25
45
17
96
58
60
33
52
87
13
.77
.16
.62

INVENTORIES TO SALES,
(RATIO)
44
55
63
55
62
44
50
54
64
46
52
57
49
49
48
45
48
60
59
60
69
66
59
51
58
78
64
61
59
64
72
64
74
64

1 42
1 57
1 61
1 56
1 64
1 44
1 52
1 55
1 63
1 45
1 .55
1 .54
1 50
1 .51
1 .47
1 .47
1 50
1 60
1 59
1 61
1 67
1 66
I 58
1 .53
1 59
1 76
1 .65
1 61
1 59
1 .61
1 .74
1 .66
1 .71
1 .60

'This s e r i e s c o n t a i n s r e v i s i o n s b e g i n n i n g w i t h 1 9 8 1 .
This series contains revisions beginning with 1 9 7 9 .




June

July

Aug.

80 93
95 3 2
99 70
1 0 8 56
1 0 3 56
1 0 5 77
111 73
1 1 3 88
1 0 9 84
1 1 5 84
121 16
1 1 9 16
1 2 5 65
1 3 0 92
1 3 6 56
146 32
1 5 8 14
1 6 9 92
1 7 8 32
187 74
1 9 3 72
1 9 8 17
2 0 3 37
2 1 5 43
2 2 7 77
2 2 4 88
231 10
2 4 0 70
2 5 4 21
266 64
2 6 5 70
267 4 4
2 6 5 85
2 5 5 86

MANUFACTURING AND TRADE INVENTORIES
( B I L L I O N S OF DOLLARS)

CONSTANT-DOLLAR
46
46
64
55
64
48
50
50
62
48
51
59
50
50
49
46
47
60
59
60
65
67
61
49
58
76
65
61
62
63
63
64
73
68

May

MANUFACTURING AND TRADE INVENTORIES IN 1 9 7 2
( B I L L I O N S OF DOLLARS)

2

1 .38
1 60
1 .61
1 .59
1 .61
1 .46
1 .52
1 .54
1 .59
1 .46
1 .55
1 .52
1 .52
1 .50
1 .48
1 .48
1 .50
1 .60
1 59
1 .61
1 .67
1 .64
1 58
1 .54
1 .61
1.75
1 64
1 60
1 .59
1 63
1 .73
1 .65
1 .74
1 .56

51
69
69
76
73
76
84
88
85
91
95
93
99
103
108
117
130
140
150
163
174
184
194
219
26 2
284
306
335
377
433
478
513
518
501

82
96
99
108
102
106
112
114
109
116
121
119
126
131
136
147
159
170
179
188
194
198
204
215
227
224
231
242
255
266
265
26 7
264
256

Sept.

79
40
68
50
95
39
11
48
55
05
00
67
04
28
72
17
38
94
44
59
37
73
90
14
04
67
36
13
46
76
18
98
88
31

83
96
100
108
102
106
112
114
n o
115
121
120
126
131
137
147
160
171
180
189
194
199
206
216
229
226
233
243
256
265
264
26 9
264
256

Nov.

Dec.

lQ

ll Q

84
97
101
107
102
106
112
113
110
115
121
120
127
132
137
147
162
171
181
190
193
199
206
217
229
225
233
243
25 7
266
264
26 9
263
257

68
50
91
84
41
78
76
82
48
88
41
52
36
58
93
69
14
33
13
20
99
56
89
04
63
16
33
97
18
06
70
56
25
29

86
98
102
107
102
106
113
113
110
115
121
121
127
132
138
148
163
172
181
190
194
199
207
219
230
224
233
244
25 8
265
264
270
260
258

11
08
51
12
78
90
28
55
72
87
52
17
46
92
80
39
76
58
52
48
24
21
76
00
55
07
70
92
36
11
36
77
61
06

86
98
102
106
102
107
113
113
111
117
120
121
127
133
139
149
165
173
181
191
194
200
208
221
233
225
235
246
25 9
264
264
26 9
25 9
25 9

59
51
95
78
62
20
22
61
42
36
11
59
78
06
82
25
17
85
89
14
04
01
02
30
00
19
08
18
67
45
09
47
40
02

80
90
99
106
105
103
109
113
111
112
120
118
123
128
134
142
152
168
175
184
191
196
200
211
224
229
227
23 7
250
262
264
265
266
256

08
18
32
01
51
71
04
23
20
51
32
85
77
97
63
99
93
44
02
31
57
12
92
53
44
84
53
08
48
18
96
34
85
06

81
94
99
107
104
105
111
113
109
115
120
119
125
130
136
145
157
169
177
186
192
198
203
214
227
227
231
239
253
264
265
266
265
255

97
42
72
76
05
19
20
64
99
16
84
03
26
30
24
08
09
51
94
67
81
06
36
25
96
12
11
78
79
81
88
69
53
65

56
69
71
76
72
78
86
89
86
91
95
94
100
105
110
119
134
142
154
167
176
186
199
225
276
288
314
344
388
442
485
521
513
509

38
77
58
99
85
33
05
16
26
23
80
88
91
04
01
35
19
52
36
52
48
60
04
38
46
20
08
54
84
99
77
23
30
17

5 8 37
6 9 98
7 2 06
76 4 0
73 20
7 8 91
86 94
8 8 99
86 55
91 14
95 85
95 50
1 0 0 95
105 4 4
1 1 0 76
1 2 0 11
135 60
143 6 8
155 02
1 6 8 22
1 7 7 31
186 52
2 0 0 61
2 2 8 74
281 0 0
2 8 7 99
3 1 6 21
347 69
393 44
4 4 5 93
4 8 8 23
5 2 4 75
5 0 7 73
5 1 1 45

59
70
72
76
73
79
87
89
87
92
94
95
101
105
111
120
136
144
155
169
177
187
201
233
285
288
318
351
398
449
491
523
505
514

82
24
38
12
18
52
30
05
09
13
72
60
06
48
50
91
79
80
70
34
56
76
95
24
81
38
54
06
46
54
43
62
55
34

50
65
70
74
75
74
81
88
87
87
94
93
97
101
106
114
124
139
147
159
171
180
189
20 9
244
2 85
294
326
362
412
465
502
519
499

07
27
62
64
12
45
75
21
44
89
73
68
41
78
82
28
42
1 9
10
26
12
64
84
37
39
27
60
72
58
00
05
42
42
37

51
68
70
76
74
75
84
88
85
90
95
93
98
102
108
116
128
140
150
162
173
183
193
217
256
283
303
334
374
426
476
510
518
500

67
65
23
17
04
69
04
58
94
48
52
66
81
80
25
44
72
43
48
65
41
25
45
17
96
58
60
33
52
87
13
77
16
62

1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1

42
67
54
68
51
45
51
62
55
51
57
49
52
49
45
46
57
56
59
64
69
62
51
56
79
68
62
60
60
64
65
75
72
51

1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1

47
46
65
55
65
48
49
51
62
48
51
58
49
51
49
46
46
59
58
60
66
67
60
49
57
78
65
61
63
62
64
64
74
67

1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
I
1
1
1
1
1

TOTAL BOOK VALUE 2

40
10
99
96
70
24
52
83
74
18
90
87
19
23
48
48
06
92
98
85
64
00
08
39
00
09
24
92
35
87
95
28
39
38

53
69
69
77
73
76
84
89
85
91
95
94
99
103
108
118
131
141
152
165
175
185
196
221
265
285
307
338
3 80
436
481
516
516
504

23
53
91
19
24
98
96
42
59
33
72
32
67
72
86
48
49
94
24
00
67
10
15
40
89
30
87
97
97
79
12
50
42
28

54
69
70
77
73
77
85
89
85
90
95
94
100
104
110
118
132
142
153
166
176
186
197
223
271
286
312
342
384
43 8
483
519
514
506

26
65
65
58
61
46
59
55
58
48
57
54
51
49
46
46
52
61
57
61
68
66
58
53
61
71
64
60
60
64
71
67
74
57

1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1

28
62
61
61
61
47
55
55
54
53
57
51
51
50
47
48
52
59
60
61
69
66
57
55
62
71
64
60
59
64
70
67
74
57

IV Q

III Q

Annual

END OF PERIOD
73
80
90
56
88
25
68
88
24
58
50
27
71
80
77
30
29
29
02
57
29
52
13
33
57
57
58
78
17
18
96
13
38
78

71
53
80
41
17
39
63
88
95
94
88
72
39
28
02
88
64
52
08
38
30
14
76
40
29
69
.03
.84
41
13
.53
84
.90
98

MANUFACTURING AND TRADE,
1
1
1
1
1
1
1
1
1
1
1
1
1
1
I
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1

Oct.

DOLLARS

1 .38
1 .63
1.58
1 .63
1.60
1 .45
1.54
1 .57
1.55
1 .53
1.56
1 .51
1 .52
1.51
1 .47
1.48
1 .53
1 .61
1 .60
1 .61
1 .69
1 .66
1 .56
1 .56
1 .66
1 .71
1 .66
1 .61
1 .60
1 .63
1 .67
1 .69
1.74
1 .56

83
96
100
108
102
106
112
114
110
115
121
120
126
131
137
147
160
171
180
189
194
199
206
216
229
226
233
243
256
265
264
269
264
256

73
80
90
56
88
25
68
8B
24
58
50
27
71
80
77
30
29
29
02
57
29
52
13
33
57
57
58
78
17
18
96
13
38
78

86
98
102
106
102
107
113
113
111
117
120
121
127
133
139
149
165
173
181
191
194
200
208
221
233
225
235
246
259
264
264
269
25 9
259

59
51
95
78
62
20
22
61
42
36
11
59
78
06
82
25
17
85
89
14
04
01
02
30
00
19
08
18
67
45
09
47
40
02

86
98
102
106
102
107
113
113
111
117
120
121
127
133
139
149
165
173
181
191
194
200
208
221
233
225
235
246
259
264
264
26 9
25 9
259

59
51
95
78
62
20
22
61
42
36
11
59
78
06
82
25
17
85
89
14
04
01
02
30
00
19
08
18
67
45
09
47
40
02

82
24
38
12
18
52
30
05
09
13
72
60
06
48
50
91
79
80
70
34
56
76
95
24
81
38
54
06
46
54
43
62
55
34

59
70
72
76
73
79
87
89
87
92
94
95
101
105
111
120
136
144
155
169
177
187
201
233
2 85
288
318
351
398
449
491
523
505
514

82
24
38
12
18
52
30
05
09
13
72
60
06
48
50
91
79
80
70
34
56
76
95
24
81
38
54
06
46
54
43
62
55
34

44
65
55
65
54
45
52
59
53
52
58
49
51
50
48
46
56
59
59
62
72
64
53
54
73
69
64
60
59
64
65
74
73
53

1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1

41
58
61
59
60
46
52
55
58
49
55
53
50
50
48
46
51
60
59
61
68
66
57
53
63
74
65
61
60
63
68
68
74
59

END OF PERIOD

TOTAL 3
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1

42
63
55
62
58
46
53
57
53
53
57
49
51
50
49
47
54
62
59
60
72
66
54
53
69
70
67
61
59
64
65
72
76
55

T h i s series contains revisions beginning with 1977.

54
69
70
77
73
77
85
89
85
90
95
94
100
104
110
118
132
142
153
166
176
186
197
223
271
286
312
342
3 84
43 8
483
519
514
506

AVERAGE
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1

49
65
56
65
54
45
53
58
51
53
59
49
49
52
49
46
56
59
58
63
74
63
53
52
72
69
64
60
59
65
65
74
72
53

41
57
62
57
62
45
51
54
62
46
54
54
50
50
48
47
49
60
59
61
68
65
58
53
59
76
64
61
59
63
73
65
73
60

71
53
80
41
17
39
63
88
95
94
88
72
39
28
02
88
64
52
08
38
30
14
76
40
29
69
03
84
41
13
53
84
90
98

59
70
72
76
73
79
87
89
87
92
94
95
101
105
111
120
136
144
155
169
177
187
201
233
2 85
288
318
351
398
449
491
523
505
514

FOR PERIOD
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1

31
63
61
61
61
46
56
56
56
51
57
52
51
50
47
47
52
60
59
61
69
66
57
55
63
71
65
60
60
64
69
68
74
57

1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1

(NOVEMBER

1984)

gg

C. Historical Data for Selected Series—Continued
Year

Jan.
525.

1950.. .
1951...
195 2 . . .
1 953 . . .
1954.. .
1955 . . .
1956 . . .
195 7 . . .
195 8 . . .
195 9 . . .
1 960 . . .
1961 . . .
1962 . . .
1963 . . .
1964...
1965...
1966...
1967...
196 8 . . .
196 9 . . .
1970...
1971...
1972...
1973...
1974...
1975...
1976...
1977...
1978...
197 9 . . .
1980...
1981...
1982...
1983...
1984...

Feb.

Mar.

DEFENSE DEPARTMENT

3 976
2 528
3 6 82
616
1 049
1 474
1 756
2 103
1 625
1 850
1 989
3 271
2 429
2 372
2 097
2 952
3 364
2 887
3 398
2 855
2 508
3 520
2 824
3 218
3 731
3 536
3 354
4 85 3
5 771
5 491
7 155
9 756
16 9 0 8

3 493
5 479
2 295
564
1 306
1 3 88
1 927
1 232
1 898
1 754
2 186
2 180
2 611
2 95 8
1 846
2 906
3 930
3 445
3 441
2 623
2 704
2 982
2 899
3 144
4 061
3 101
4 369
4 741
4 554
6 839
7 514
13 761
13 0 4 2

3 001
2 959
2 3 81
826
1 028
1 502
1 563
2 243
1 966
1 904
1 987
2 552
2 463
1 966
2 451
2 956
3 034
3 124
2 904
2 904
3 104
3 025
2 947
2 990
3 168
6 713
4 819
4 909
5 903
5 887
7 590
9 870
7 351
543 .

1 950 . . .
1951 . . .
1 95 2 . . .
1 953 . . .
1954...
1955 . . .
1 956 . . .
1 95 7 . . .
1 95 8 . . .
1 959...
1 960 . . .
1961...
1962...
1 963 . . .
1964.. .
1 965 . . .
1 966 . . .
1 967 . . .
1968...
1 969.. .
1970...
1971...
1972...
1 973 . . .
1974...
1975...
1976...
1977...
1978...
1979...
1980...
1981. . .
1982 . . .
1963. . .
1984.. .

38
32
23
26
22
23
21
22
24
24
23
23
27
35
36
39
32
30
32
34
37
40
41
49
57
66
71
82
98
122

361
38
254
31
715
23
293
26
21
051
663
23
21
509
795
23
633
24
531
24
003
23
434
23
275
27
35
350
616
37
531
39
561
32
181
30
32
879
34
280
446
37
05 2
39
358
41
25 8
50
304
58
702
49
17 8
71
83
087
818 102
6 2 8 123

Apr.
PRIME

2
2
2
1
I
1
2
2
2
1
2
2
2
2
2
3
3
3
2
2
2
2
2
4
4
3
4
4
4
6
8
10
10

DEFENSE

587
35 9 7 4
293
30 030
24 5 2 6
6 85
581
26 1 2 9
22 3 6 9
95 7
641
23 6 82
21 2 0 3
314
041
2 2 931
24 6 5 9
506
304
24 0 3 6
777
23 5 9 5
466
23 6 9 8
621
28 355
719
35 6 6 8
236
37 4 9 0
147
38 472
041
31 4 9 4
851
30 5 4 1
832
32 742
34 9 7 6
426
673
37 817
40 1 9 8
875
41 8 6 6
45 9
22 9
50 761
401
58 986
455
67 6 6 3
665
73 17 9
608
84 8 8 3
677 105 4 1 8
8 0 3 125 5 7 0

May

June

July

892
088
462
068
468
404
312
142
204
726
274
295
023
502
843
461
026
488
825
591
928
9 85
568
372
023
489
303
970
688
944
505
518
132

3
3
2
1
1
3
1
2
1
2
2
2
2
2
4
4
3
2
2
2
3
3
3
3
4
6
4
6
7
9
10

760
059
038
326
841
7 82
808
043
893
252
85 5
140
413
640
150
978
040
203
070
545
231
7 86
171
211
814
543
654
204
825
901
967
657
111

2
4
2
1
1
2
1
2
2
1
2
2
2
1
2
3
3
3
2
2
2
3
2
3
3
3
4
7
4
6
7
14
10

759
292
042
116
287
024
093
228
222
963
229
127
366
910
3 90
6 93
566
067
744
896
324
154
897
402
6 80
85 4
300
081
144
450
041
296
814

4 097
1 158
2 035
886
971
1 196
1 619
1 511
2 192
2 151
1 993
1 888
2 216
2 5 80
2 313
3 940
3 545
3 937
2 896
2 717
2 916
3 074
2 024
3 2 95
3 635
2 535
4 624
3 928
5 650
6 211
8 845
8 610
11 0 1 7

34
29
24
25
22
23
21
22
24
23
23
23
29
35
36
37
30
30
32
35
38
39
42
51
59
69
73
84
108
126

90 7
435
536
85 7
768
532
042
718
939
602
557
762
597
296
914
656
979
737
976
140
456
918
494
236
348
360
912
994
428
165

34
28
24
25
23
23
21
22
24
23
23
24
30
36
37
36
30
31
32
35
38
40
42
52
60
67
74
85
108
126

51
769
33
405
26
475
25
287
24
330
24
656
24
22
148
539
22
24
515
126
22
914
23
261
24
322
32
6 83
37
622
38
855
35
30
279
098
29
772
32
6 93
35
389
38
086
40
970
43
170
52
723
60
7 83
67
25 2
74
165
86
841 109
532 129

118
567
919
440
762
666
007
955
707
242
824
043
651
030
417
421
445
787
077
417
877
90 9
95 9
612
625
549
996
592
126
654
720

50
33
25

051
6 95
7 93

11
23
47
58
58
50
48
51
47
53
54
55
60
71
69
69
81
96
106
107
97
82
78
81
81
82
81
80
82
92
97
100
105
116

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

11
26
47
59
57
50
48
52
47
52
55
54
61
70
68
70
82
97
108
106
95
79
79
81
81
79
80
80
80
92
97
100
106
116

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

12
30
47
61
56
50
47
52
48
52
55
54
62
70
68
71
83
97
107
106
93
79
79
81
81
79
80
80
83
93
97
100
107
117

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

12
33
48
61
55
50
47
52
49
53
54
54
63
70
68
72
84
98
105
106
91
79
79
80
81
80
79
81
84
92
97
101
107
118

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

12
34
49
63
55
50
47
51
50
53
55
54
63
70
66
74
86
98
108
106
89
80
79
80
82
80
79
81
84
92
97
102
107
117

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

13
36
51
63
54
49
47
51
51
53
54
54
64
69
66
75
87
98
109
104
88
78
80
81
82
81
78
81
85
92
97
101
107
118

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

IN

Sept.

2
2
1
2
2
1
2
1
2
2
2
2
2
2
3
3
3
2
2
2
2
3
3
3
4
4
4
6
6
9
10
10

13
38
51
63
53
49
47
51
51
54
55
55
65
69
66
76
88
99
109
104
86
78
80
81
82
81
78
82
87
92
97
102
109
120

100

Dec.

II Q

IQ

III Q

2 823
2 143
95 9
2 271
1 136
1 972
1 5 94
1 880
1 93 7
1 327
2 494
2 814
2 119
1 967
2 7 90
3 3 83
3 626
3 903
2 987
3 464
2 606
2 946
2 992
3 863
2 866
4 897
5 279
4 343
5 619
5 639
4 466
5 423
2 820

3 462
3 295
265
481
1 310
1 934
1 819
1 704
2 102
1 938
2 308
2 946
1 814
2 075
2 995
3 225
3 308
3 378
2 734
2 746
3 092
3 589
3 347
3 667
3 062
4 114
4 247
6 509
6 029
6 773
9 817
10 2 0 9
16 1 4 0

3 399
3 148
3 90
913
2 194
1 891
1 671
2 328
1 298
1 922
2 491
2 044
2 149
1 997
2 988
3 513
3 479
3 613
2 765
3 1 81
3 066
2 532
3 292
3 051
3 413
4 729
5 332
4 568
5 825
9 835
9 049
17 2 9 8
9 463

10
10
8
2
3
4
5
5
5
5
6
8
7
7
6
8
10
9
9
8
8
9
8
9
10
13
12
14
16
8
22
33
37

470
966
358
006
383
364
246
578
489
508
162
003
503
296
3 94
814
328
45 6
743
3 82
316
527
670
352
960
350
542
503
228
217
25 9
3 87
301

9
9
6
3
3
5
4
7
6
5
6
6
6
7
7
10
10
10
8
8
7
8
8
10
11
10
13
18
13
20
23
34
31

411
439
542
510
5 96
210
213
413
319
941
358
562
802
052
3 83
132
632
758
639
032
483
925
636
985
517
886
257
255
657
295
513
471
057

10
4
4
4
2
5
4
5
5
6
6
6
7
6
7
10
10
10
8
7
8
8
8
10
11
11
13
13
16
20
27
27
32

IV Q
PERIOD

671
276
128
107
799
3 95
226
511
949
601
169
087
573
706
507
6 46
955
946
577
612
991
437
221
352
156
172
502
707
629
292
674
834
665

END OF

49
33
24

349
287
076

47 41 9
33 4 4 2
23 911
26 4 6 3

910
846
225
210
46 3

23 5 5 5
22 5 5 8
23 2 5 7
23,945
24 1 7 9
23

109
188
741
437
251
3 83
833
662
870
968
885
172

Nov.

STATES

9
8
1
3
4
5
5
5
5
5
7
7
6
6
8
10
10
10
8
9
8
9
9
10
9
13
14
15
17
22
23
32
28

6 84
5 86
614
665
640
797
0 84
912
337
187
293
804
0 82
039
773
121
413
894
486
391
764
06 7
631
5 81
341
740
85 8
420
473
247
332
930
423

40,236
33,267
20,642
13,288
14 , 4 1 8
20,766
18,769
24,414
23,094
23 , 2 3 7
25,982
28,456
27,960
27,093
30,057
39,713
42 , 3 2 8
42,054
35 , 4 4 5
33,417
33 , 5 5 4
35 , 9 5 6
35 , 1 5 8
41 , 2 7 0
42,974
49,148
54,159
61,885
64,187
81 , 0 5 1
96 , 77 8
128,622
129,446

050
166
374
518
062
755
599
866
522
430
050
275
746
064
033
587
7 81
077
046
225
83 9
137
309
497
771
470
006
936
827
7 88
820

40,050
33,186
23 , 3 7 4
26 , 5 1 8
22,062
23 , 7 5 5
2 1 , 5 99
22,866
24 , 5 2 2
24 , 4 3 0
23,050
23 , 2 7 5
26,746
35,064
37 , 0 3 3
3 9 ,5 87
3 2 , 7 81
30,07 7
31,046
34,225
36 , 83 9
40 , 1 3 7
41 , 3 0 9
48,497
55 , 7 7 1
64,470
70,006
79,936
93,827
1 1 9 , 7 88
141,820

OUTSTANDING

365

34 154
36 2 4 9
36 6 2 5
39 104
39 960
34 4 1 4
33 6 1 3
30 2 2 1
29 9 3 8
31 0 6 9
30 6 7 1
33 3 5 0
33 985
36 666
36 2 85
39 6 2 1
39 894
42 140
41 80 5
42 5 5 8
43 6 6 3
54 2 6 2
52 697
62 028
62 730
70 6 2 9
79 2 1 9
76 7 45
75 1 3 3
89 85 7
91 8 9 6
1 1 0 7 8 7 111 857
130 829 133 056

45
33
23
26
22
23
22
23
24
24

535
673
512
168
107
6 84
452
022
241
547

44 707
33 716
23 0 3 4
26 3 4 4
22 140
23 7 5 5
22 3 2 3
23 2 2 0
23 955
24 831

40
33
23
26
22
23
21
22
24
24
23
23 0 0 8
23 0 4 2
23
26 1 0 5
26 4 9 6
26
34 5 83
3 4 942
35
36 9 9 3
36 831
37
40 1 7 8
40 1 2 7
39
33 2 3 4
32 912
32
30 0 85
29 7 0 3
30
31 5 4 6
31 4 5 0
31
34 0 2 6
34 2 5 5
34
36 6 82
36 86 9
36
39 4 2 9
39 7 7 2
40
41 8 4 5
41 46 8
41
47 3 6 6
47 3 85
48
4 775
55 4 7 9
55
63 0 0 6
63 4 4 0
64
63 7 5 7
69 910
70
77 7 77
78 183
79
92 5 7 5
91 3 5 4
93
111 8 6 6 1 1 3 6 4 7 1 1 9
1 3 1 1 3 0 1 3 9 0 6 2 141

050
1 86
374
518
062
755
599
866
522
430
050
275
746
064
033
587
7 81
077
046
225
83 9
137
309
497
771
470
006
936
827
7 88
820

35
30
24
26
22
23
21
22
24
24
23
23
28
35
37
38
31
30
32
34
37
40
41
50
58
67
73
84
105
125

974
030
526
129
369
6 82
203
931
659
036
595
698
355
668
490
472
494
541
7 42
976
817
198
866
761
986
663
17 9
883
41 8
570

51.118
33 5 6 7
26 9 1 9
25 4 4 0
24 7 6 2
24 6 6 6
24.007
22 955
22 . 707
24 242
22 8 2 4
23 0 4 3
24 6 5 1
32 0 3 0
37 4 1 7
38 421
35 4 4 5
30 7 8 7
29 077
32 417
35 877
38 909
40 95 9
43 6 1 2
52 625
60 5 4 9
67 9 9 6
74 592
86 1 26
109 654
129 720

PERIOD

47
33
23
26

419
442
911
463

23
22
23
23
24

555
558
257
945
179

23

365

34 1 5 4
36 6 2 5
39 960
33 6 1 3
29 9 3 8
30 6 7 1
33 985
36 2 85
39 894
4 1 805
43 6 6 3
52 697
62 730
70 6 2 9
76 7 45
91 8 9 6
111 857
133 056

40
33
23
26
22
23
21
22
24
24
23
23
26
35
37
39
32
30
31
34
36
40
41
48
55
64
70
79
93
119
141

EQUIPMENT
AVERAGE FOR
9
5
6
9
9
5
5
2
7
0
5
0
6
3
4
2
8
1
7
5
8
3
2
8
6
0
7
0
5
9
9
6
5
4

15
39
52
63
52
49
48
51
52
53
55
55
66
69
66
76
90
100
110
103
85
78
80
80
83
80
79
82
87
91
97
102
109
120

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

16
41
53
63
52
49
48
50
52
54
55
56
66
69
67
76
91
101
110
102
84
78
79
81
83
81
79
82
89
93
98
103
109
121

T h e s e s e r i e s c o n t a i n no r e v i s i o n s b u t are r e p r i n t e d f o r the c o n v e n i e n c e of t h e u s e r .




333
116
004
454
597
091
297
308
793
250
033
032
635
163
419
541
720
836
6 80
113
982
725
235
504
102
985
255
85 5
232
893
325
296
921

23
22
23
23
24

33
36
39
41
43
53
61
68
74
87
n o
131

Oct.

THE UNITED

TOTAL FOR

4 241
1 002
1 089
767
1 231
2 108
1 310
1 6 92
1 964
2 200
2 143
2 167
2 722
1 963
2 775
3 165
3 6 90
3 173
3 001
2 7 82
3 093
2 638
2 962
3 553
4 419
3 652
4 623
4 924
4 947
7 188
9 504
8 928
10 7 2 7

DEPARTMENT GROSS UNPAID OBLIGATIONS
( M I L L I O N S OF DOLLARS)

OUTPUT OF DEFENSE AND SPACE
(INDEX:
1967=100)
1950 . . .
1951...
1952...
1 95 3 . . .
1954...
1 95 5 . . .
195 6 . . .
195 7 . . .
1 95 8 . . .
1 95 9 . . .
1960. ..
1961...
1962...
196 3 . . .
1964...
1 965 . . .
1966 . , .
1 967 . . .
196 8 . . .
1 96 9 . . .
1 970 . . .
1971...
1 972 . . .
1 973 . . .
1 974...
1975 . . .
1 976 . . .
1 977 . . .
197 8 . . .
1979...
1980...
1981...
1
982...
1 983 . . .
1984...

Aug.

CONTRACT AWARDS FOR WORK PERFORMED
( M I L L I O N S OF DOLLARS)

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

18
42
55
62
51
49
49
49
52
53
55
57
66
69
67
77
92
103
107
101
83
77
79
81
83
78
80
79
89
95
99
104
111
122

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

19
45
56
58
51
49
50
47
52
53
55
59
67
69
68
78
94
104
108
99
82
77
80
81
83
77
80
79
90
96
100
105
113
124

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

21
46
57
59
50
49
51
47
53
54
54
60
67
69
68
79
95
105
107
98
81
76
81
82
82
77
80
81
91
96
101
107
115
125

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

11
26
47
59
57
50
47
52
48
52
55
54
61
70
68
70
82
97
107
106
95
80
79
81
81
80
80
80
82
92
97
100
106
116

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

12
34
49
62
55
49
47
51
50
53
54
54
63
70
67
73
86
98
107
105
89
79
79
81
82
80
79
81
85
92
97
101
107
117

PERIOD

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

19
44
56
60
51
49
50
47
52
54
54
59
67
69
68
78
94
104
107
100
82
77
80
81
83
77
80
80
90
96
100
105
113
124

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

15
39
52
63
53
49
48
50
52
53
55
55
66
69
66
76
90
100
110
103
85
78
80
81
82
80
79
82
88
92
97
102
109
120

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

(NOVEMBER

1984/

C. Historical Data for Selected Series—Continued
Year

Jan.

Feb.

Mar.
602.

1
1
1
1
1
1
1
1
1
1
2
1
2
2
2
2
3
3
4
4
7
9
9
9
9
13
17
18
18
17

7 95
970
250
041
962
168
289
653
423
314
534
622
667
987
052
228
298
639
814
161
406
601
074
955
171
498
113
677
86 8
281
419
902
5 84
232

1
1
1
1
1
1
1
1
1
1
1
2
2
1
2
2
2
2
3
3
3
5
7
8
8
9
9
13
16
19
18
16

7 92
022
236
971
047
198
2 90
577
322
256
554
708
819
143
076
623
353
582
775
266
546
6 94
824
070
549
812
935
900
946
627
9 84
788
614
312

Apr.

186

541
6 80
766
1 ,111
1 , 774
2,369
1 ,917
1,762

1,818

2,531
3,442
4,295
3 ,258
3,128

349
554
542
573
246
569
633
703
1 ,142
1,829
1 ,830
1,630
2.004
2,058
2,444
3 ,484
3,977
3 . 5 90
2 , 985

322
43 9
502
530
43 7
678
691
7 80
911
1,197
1,632
1,817
1 , 892
2,187
2,832
3,454
4,155
4,054
3,359

July

Aug.

1
1
1
1
1
1
1
1
1
1
1
1
2
2
2
2
2
3
3
3
3
5
7
8
9
10
11
14
1 8
21
18
16

772
0 80
281
001
862
159
348
881
3 85
326
541
755
664
954
067
739
530
524
43 9
1 88
375
7 90
868
311
630
720
036
167
150
317
265
27 8
46 2
6 90

7 86
256
138
024
196
113
3 94
739
364
305
627
637
804
927
0 81
406
316
608
855
318
410
631
820
4 94
116
718
3 80
955
632
988
567
7 86
005
0 95

1
1
1
1
1
1
1
1
1
1
1
1
1
2
2
2
2
2
3
3
3
3
5
8
8
9
9
11
13
18
19
18
16

26
18
490
533
658
606
1,268
1 , 86 9
1,703
1,668
2,112
2,363
2,609
3,325
4,201
3,225
2,811

Sept.

70
90
43 8
622
647
724
773
925
1 , 270

1,626

1 , 806
1,859
2,450
2,917
3,423
4,352
3,997
3,499

1
1
1
1
1
1
1
1
1
1
1
1
1
2
2
2
2
2
3
3
3
3
5
7
8
9
10
11
14
17
18
18
15

772
133
129
008
087
132
413
560
379
320
644
578
764
899
076
299
416
549
740
268
661
7 46
882
561
654
250
575
531
7 87
106
647
899
124
655

1
1
1
1
1
1
1
1
1
1
1
1
2
2
2
2
2
3
3
3
3
5
8
8
9
10
12
14
18
19
18
16

831
132
063
998
091
170
442
674
337
357
643
621
877
837
0 80
235
4 84
5 82
870
179
727
672
971
728
326
758
738
0 96
268
828
440
750
823
95 9

1
1
1
1
1
1
1
1
1
1
1
1
2
2
2
2
2
3
3
3
4
5
8
8
9
10
11
15
18
19
1 8
16

821
234
970
o n
07 6
223
412
617
361
397
711
698
750
83 9
11 8
300
46 9
601
85 8
1 82
704
573
074
865
330
890
994
3 80
669
706
267
289
060
486

Nov.

Dec,

IV Q

I Q

1
1
1
1
1
1
1
1
1
1
1
1
1
2
2
2
2
2
3
3
3
4
6
8
9
9
9
12
15
19
19
17
16

TOTAL FOR
813
233
012
026
067
215
45 4
617
365
432
660
6 95
709
912
0 95
329
460
566
950
366
591
666
196
042
446
043
831
698
291
754
0 86
031
463
5 82

1
1
1
1
1
1
1
1
1
1
1
1
1
2
2
2
2
3
3
3
4
4
6
8
9
9
U
13
15
18
19
17
17

889
233
028
154
056
235
5 86
605
354
528
661
669
898
964
237
291
502
597
211
341
553
487
176
420
426
118
846
044
288
843
828
551
320
257

1
1
1
1
1
1
1
1
1
1
1
1
2
2
2
2
2
3
3
2
4
6
8
9
9
9
12
16
19
19
16
17

893
101
004
951
111
260
509
546
349
328
6 85
809
,542
943
150
349
616
415
631
342
688
669
316
5 85
687
246
779
364
906
700
217
163
671
033

1
1
1
1
1
1
1
1
1
1
1
1
1
2
2
2
2
2
3
3
3
4
6
8
9
9
9
13
16
18
19
15
17

940
273
026
035
147
215
360
534
401
376
673
738
717
946
183
37 8
491
671
972
398
499
196
473
879
978
426
609
486
460
93 8
715
153
85 2
06 3

1
1
1
1
1
1
1
1
1
1
1
1
2
2
2
2
2
2
3
3
3
4
6
8
9
10
11
13
16
19
18
16
17

915
309
016
073
130
226
836
493
339
493
631
700
811
05 9
3 94
362
46 7
677
977
2 80
569
881
558
94 9
865
2 80
457
001
299
753
251
885
347
298

2
3
3
3
2
3
3
5
4
3
4
5
5
5
6
5
7
7
8
7
10
11
11
15
22
27
27
29
30
41
52
59
55
50

359
072
767
013
871
5 25
927
111
130
896
629
0 85
150
0 84
1 95
5 90
1 81
7 45
028
615
327
0 85
766
336
350
030
0 84
744
964
225
668
968
660
234

2
3
3
3
3
3
4
4
4
3
4
4
5
5
6
6
7
7
8
9
10
11
11
16
24
25
28
30
35
42
54
58
54
48

389
521
330
030
374
415
249
973
0 80
982
914
836
445
663
237
940
216
739
465
765
798
049
673
7 83
0 96
7 26
6 93
5 82
6 87
922
654
435
952
709

538
552
542
491
576
566
623
722
1,412
I
,682
1,575
1,950
2,360
2,861
2,597
3 ,326
3,708
3,527
2,715

550
572
539
475
526
612
624
771
1 ,442
1 , 806
1,480
1 ,948
2,077
2,904
2,828
3 , 0 85
3,256
3,332
2,977

595
53
512
503
54
614
632
754
1,370
1 ,84 2
1 ,735
2,039
1,976
2 , 3 92
2,954
3 ,286
3 ,089
2 , 7 89
3,072

60
44
94
610
636
7 96
1,731
1 , 6 98
1,872
2,058
1 ,801
2,774
3,019
3,557
3,202
2,763
2,973

523
509
518
639
866
837
1,726
1,654
1 ,932
2,160
2 ,064
2,512
3,032
3 , 5 96
3,563
2,648
3,322

562
595
507
441
612
694
447
882
1,706
1,691
2 ,060
2,231
1,654
2 . 5 96
3,309
3,485
3,735
2 . 6 81
2,97 9

65
28
46
927
1,769
1,978

1 ,821
1,750
1,755
2,533
3 ,459
3 ,464
3,442
2 , 7 83
3,109

591
580
522
569
551
689
768
,007
,7 85
, 922
,776
, 860
.111
.555
,311
,83 8
,220
,637
.175

1,239
1,69
1,63
1,670
922
1,643
1 , 971
2,075
3,521
5,472
5 ,902
5,215
5,878
6 ,239
7 , 5 84
10,251
12,473
10,073
8, 924

EXPORTS OF NONELECTRICAL MACHINERY
(MILLIONS OF DOLLARS)

433
494
539
647
651
720
757
926
1 ,288
1,760
1,818
1,808
2,415
2,706
3,571
4,311
3,932
3,513

432
448
508
519
622
6 80
6 80
767
975
1,338
1,720
1 , 836
1 ,835
2 ,47 2
2,85 9
3,620
4,160
3,957
3,433

43
46 8
498
51
59
718
700
7 83
997
1,339
1,772
1,871
1,868
2,427
3,034
3 ,943
4 , 3 88
4,211
3,265

484
485
526
608
755
6 86
776
1,028
1,398
1,770
1 ,952
1,862
2,451
3 ,022
3 ,985
4,567
4 , 3 05
3,655

52
06
663
814
1,041
1 ,509
1,752
1 ,675
1 ,732
2,528
3,241
4,230
6,207
3,856
3 ,290

2
3
3
3
3
3
4
4
4
4
5
5
5
5
6
6
7
7
9
9
10
11
12
8
25
27
29
31
37
47
56
57
52
50

523
700
010
1 91
199
673
452
839
0 80
357
032
062
357
715
,450
920
431
764
01 9
889
848
726
446
327
202
051
671
122
248
303
181
871
843
325

TOTAL FOR

1,6
1 ,6

1,610

1,607
1 ,494
1 ,711
1 ,743
1,883
2,121
4,105
5 ,666
4,778
5 , 7 90
6 ,579
8 , 1 93
7 ,965
9 , 7 40
10,568
10 , 2 5 9
8,583

1 , 756
1,548
1,556
1,553
1 ,863
2,134
2 , 3 87
4,827
5,194
5,539
6,257
5 , 841
7,678
9,005
10,439
9,854
8,200
9,367

TOTAL FOR

497
573
616
718
871
818
1 ,090
1,481
1,750
1 ,883
2,133
2,815
3,153
4,027
4,559
4,197
3,718

T h e s e s e r i e s c o n t a i n no r e v i s i o n s b u t are r e p r i n t e d f o r the c o n v e n i e n c e of t h e u s e r .




Oct.

OF DOMESTIC AGRICULTURAL PRODUCTS
(MILLIONS OF DOLLARS)

526
528
609
565
636
628
1,251
1 ,978
1 ,723
1,892
2,142
2 ,428
2,540
3,329
3 ,604
3,400
2,891

606.

521
523
40 8
628
732
775
880
1,155
1,672
1,780
1 , 831
2 , 0 84
2 , 6 82
3,297
4,058
4,346
3,644

June

EXCLUDING MILITARY AID SHIPMENTS,
(MILLIONS OF DOLLARS)

EXPORTS

228
547
569
579

May

EXPORTS,

57

7 85
582
781
1,115
1,552
1 , 814

1,821
1,556
J ,625
3 ,251
4,117
4,338
3 , 829
3 , 6 89

01

672
862
1,107
1,624
1,770
1,814
1 ,791
2,718
3,172
3,968
4,366
3 , 6 86
3 , 6 86

46
486
520
518
630
720
7 83
860

1 ,111
1,523
1,843
1,983
2 ,056
2,824
3 ,240
3 ,819
4.005
3,719
3 . 6 83

1,032
1,34.
1,513
1,49
1,46
1,95
2,14
2,328
2,716
3,622
4,930
5 ,403
5,582
6 ,721
8,431
10,174
12,565
12,397
10,502

1,323
1 ,349
1,500
1 , 5 73
1 ,863
2,049
2,100
2,307
2,898
3 ,965
5,252
5 ,525
5,511
7,314
8,599
11 , 1 3 4
12 , 85 9
12,100

10,211

1,
1,6

1,876
2,179
2,220
2,408
3,159
4,388
5,272
5,510
5 ,727
7 ,794
9,416
12,242
15 , 3 3 3
12 , 3 5 8
10,663

PERIOD
2
3
3
3
3
3
4
4
4
4
4
5
5
5
6
7
7
7
8
10
10
9
13
20
26
27
29
29
39
50
57
57
48
51

748
6 83
046
05 9
388
701
705
573
089
197
989
247
070
948
727
089
574
763
5 80
020
756
746
347
413
530
952
845
851
665
3 91
183
201
870
3 94

9
13
13
12
12
14
17
19
16
16
19
20
20
22
25
26
29
30
34
37
42
43
49
70
98
107
115
121
143
181
220
233
212
200

993
968
203
262
854
291
333
495
367
407
626
190
973
42 7
6 90
6 91
379
934
063
332
659
549
199
823
092
652
223
232
6 81
860
630
677
193
4 86

PERIOD

1,694
1,755
1,589
1,526
1 ,728
2,011
1,761
2,816
5 ,260
5 , 5 91
5 ,657
5 , 841
5 ,520
7 , 6 84
10,079
10,787
10 , 3 9 7
8,101
9,263

PERIOD

1 , 3 85
1,45 2
1,488
1,616
1,965

2,206
2 ,037
2,503
3,333
4,699
5,427
5,61 8
5 ,403
8,167
9,663
11,904
12,709
11,234
11,058

(N0VEM8ER

1984)

101

C. Historical Data for Selected Series—Continued
Year

Jan.

Feb.

Mar.

Apr.

May

June

July

Aug.

Sept.

Oct.

Nov.

Q

Dec.

6 1 2 . GENERAL IMPORTS, TOTAL
( M I L L I O N S OF DOLLARS)
1950 . . .
1951 . . .
1 952 . . .
1 953 . . .
1 95 4 . . .
1 955 . . .
1 956 . . .
1 95 7 . . .
1 95 8 . . .
1 95 9 . . .
1 960 . . .
1961 . . .
1 962 . . .
1 963 . . .
1964.. .
1 965 . . .
1 966 . . .
1 967 . . .
1 96 8 . . .
1 96 9 . . .
1 970 . . .
1971 . . .
1 972 . . .
1 973 . . .
1 974.. .
1 975 . . .
1976 . . .
1 977 . . .
1978...
197 9 . . .
1 980 . . .
1981 . . .
1 982 . . .
1 983 . . .
1984.. .

1
1
1
1
1
1
1
1
1
1
1
2
2
2
3
3
4
5
6
10
9
10
13
16
21
22
22
20

592
93 9
856
904
855
886
045
057
053
166
247
154
3 20
0 89
421
199
966
317
6 87
002
222
599
436
244
665
145
341
6 94
661
813
1 81
616
573
127

1
1
1
1
1
1
1
1
1
1
2
2
2
2
3
3
4
5
7
8
9
12
14
14
21
21
19
18

606
927
881
90 2
85 2
897
063
056
022
202
353
154
325
510
462
606
013
216
5 92
672
279
564
473
4 83
534
133
302
990
617
919
834
916
570
804

1
1
1
1
1
1
1
1
1
1
2
2
2
2
3
3
4
5
7
7
9
12
14
15
24
21
20
19

577
997
904
923
762
907
034
118
051
220
2 91
164
339
485
518
861
050
166
5 88
982
219
629
515
414
997
720
742
7 92
320
657
866
029
018
528

1

1
1
1
1
1
1
1
1
1
1
2
2
2
3
3
3
4
5
8
8
9
12
14
16
19
22
17
1 9

614.

162
162
185
192
208
226
219
332
462
1 ,167
3 ,080
2,475
3,217
3 ,000
3,580
5 ,614
7 ,359
6 ,810
4,166

65
74
172
187
206
252
220
334
456
1,512
1 , 7 81
2,338
3 ,370
3,626
3,634
7 ,741

8,018

4,396
2,85 9

IMPORTS

17
183
172
179
1 82
237
249
342
492
1 ,560

1,211

2,361
4 , 1 91
3,094
3,667
6 ,991
5 ,992
4,290
3 ,261

616.

6
76
299
2 93
417
482
589
7 80
862
742
1 ,085
1,083
1,529
1 ,963
1,899
2,264
2 ,389
2,329

14
61
273
315
404
541
662
731
877
654
1 ,041
1,248
1,661
1 ,706
2,035
1 , 7 42
2,135
3,019

606
005
870
998
945
90 2
019
100
051
218
353
158
368
412
525
811
0 90
198
604
183
262
774
417
360
237
21 8
940
127
773
061
831
249
714
914

125
169
229
325
404
561
6 80
753
797
823
1,117
1,299
1,581
1,589
1 ,960
2,125
2,596
2,676

1
1
1
1
1
1
1
1
1
1
2
2
2
3
3
3
4
5
8
7
9
11
14
16
20
21
20
21

636
986
63 9
931
848
939
040
060
066
330
278
162
3 96
409
535
7 97
060
118
755
256
337
908
4 86
703
460
470
489
47 8
2 95
805
658
232
47 7
446

1
1
1
1
1
1
I
1
1
1
2
2
2
3
3
4
4
5
8
7
10
13
14
17
20
22
21
20

6 84
96 7
882
913
935
92 8
069
056
037
301
276
1 80
355
43 2
525
84 8
102
184
7 92
152
265
037
46 8
775
870
311
578
676
226
201
427
005
187
916

TOTAL FOR

1
1
1
1
1
1
1
1
1
1
2
2
2
3
3
3
4
6
9
8
10
12
14
18
19
23
22
22

821
885
897
910
851
952
065
099
046
289
245
243
347
507
5 85
82 5
137
145
872
163
346
913
726
010
504
166
738
530
412
659
719
242
930
714

1
1
1
1
1
1
1
1
1
1
2
2
2
3
3
4
4
5
9
8
10
13
15
18
19
21
20
22

102

1
1
1
1
1
1
1
1
1
1
1
2
2
2
3
3
3
4
5
9
8
10
12
15
9
20
23
21
24

912
800
899
818
80 5
045
055
0 86
091
184
197
298
316
459
550
8 85
303
254
736
192
498
469
738
996
026
533
810
996
091
271
3 27
077
006
333

1
1
1
1
1
1
1
1
1
1
2
2
2
3
3
3
5
6
9
8
10
12
15
19
19
22
18
23

876
845
904
873
821
045
96 9
065
156
292
162
305
41 9
45 9
688
941
195
3 96
883
180
428
456
148
6 84
239
464
951
778
23 8
013
85 6
508
892
115

1
1
1
1
1
1
1
1
1
1
2
2
2
3
3
4
5
6
9
8
11
13
15
20
21
19
19
22

891
812
97 8
837
874
971
050
0 80
139
353
142
3 26
3 80
488
655
911
1 96
493
908
078
402
169
002
2 91
6 47
670
566
661
300
156
427
7 46
154
976

1
2
2
2
2
2
3
3
3
3
3
3
3
4
4
4
6
6
7
7
9
10
13
16
22
25
28
36
42
47
67
65
62
58

775
863
641
729
46 9
6 90
142
231
126
588
891
472
984
0 84
401
666
029
699
867
656
7 20
7 92
424
141
1 96
998
3 85
476
598
3 89
881
561
161
45 9

180

215
203
270
331
550
2.117
1,746

2.118
3 , 1 92
3 ,038
4.000
7 ,191
6 ,329
4 . 1 80
5 ,284

9
20
22
276
346
588
2,063
1 ,354
2,563
3 ,734
3 ,229
4,199
6,611
6,521
4,85 5
4,203

62
228
215

200
288
350
520
2,306
1,990
2 , 887
3,415
3,194
4,692
5,153
5,400
5 ,624
5 ,220

201
55
82
211
234
2 93
352
703
2,274
2,008

2,860
3,266
3,257
4,949

6,018

6 ,335
5,731
4,82 8

176
178
160
213
21 8
221
314
3 87
700
2 ,200
2,515
2,716
3,436
3,307
S ,662
4,982
5,709
4,903
5,538

73
73
210
223
231

286
3 90
7 87
2 , 2 81
2,320
2,834
3 , 3 86
3,347
6,050
5 , 876
6 ,123
5 ,43 3
5,232

170
19
172
19
20
233
335
406
942
2,308
2,140
2,96 8
3,410
3,489
5,351
6,051
6 ,483

192
154
179
198
238
256
335
416
972
2,335
2 ,360
3 ,051
3 ,233
3 ,588
6 ,502
6,254
4,636
4 , 6 94
3,713

498
519
529
558
596
715
688

1 ,008

1 ,410
4,239
6 ,072
7,174
10,778
9,720
10 , 8 8 1
20,346
21 , 3 6 9
15 , 4 9 6
10 , 2 8 6

IMPORTS OF AUTOMOBILES AND PARTS
(MILLIONS OF DOLLARS)

108
159
260
399
45 7
533
647
725
898
776

1,221

1,266
1,715
1,956
1,710
2,042
2,389
2,746

529
6 80
814
901
731
976
1 , 1 83
1 ,659
1 ,851
1 ,999
2,299
2 , 7 85
3,001

292
83
428
76
636
821
841
7 82
1,169
1 ,360
1 , 6 84
1,730
1 ,843
2 ,257
2,626
2 ,851

928
87 9
1,025
1,315
1 ,815
2,103
2,108
2,455
2,988

2,113
2,139
2,635
2 , 7 95
2,762

806

1,812

926
95 8
591
842
728
769
128
218
154
849
907
500
119
253
5 85
456
252
500
151
591
864
719
371
838
567
999
007
2 81
2 94
067
916
486
37 8
276

2
2
2
2
2
2
3
3
3
3
3
3
4
4
4
5
6
6
8
9
10
11
13
17
27
24
32
38
44
54
58
64
63
66

PERIOD

563
528
556
556
653
669
7 96
1 ,001
1 ,625
6 ,47 9
5 ,487
7,175
10,537
9,429
12,031
18,987
19,769
12,929
12,739

2
2
2
2
2
3
3
3
3
3
3
3
4
4
4
5
6
7
8
9
10
11
14
8
27
25
33
39
45
58
61
65
59
70

563
663
658
777
516
897
260
2 84
152
927
723
86 8
167
409
720
425
641
588
548
315
023
924
903
483
720
664
738
342
554
407
842
630
360
,993

1,666

38
672
622
722
912

861

1 ,238
1,428
1,82 2
1,84 9
2,270
1,943
2,370
2,547

139
206
346
443
446
549
6 81
85 8
80 9
888
871
1,426
1 , 872
1,80 5
2,189
2,464
2,444
3,154

79
68
840

812
873

1,128
1,465
1,875
1,984
2,314
2,239
2,130
3,425

95
213
231
365
428
426
642
6 94
631
814
1,013
1,221
1 ,479

1 ,82 2
1 ,871
1 ,897
2,164
2 , 1 89
3,724

146
345
506

801

933
1,225
1 , 5 84
1,931
2,264
2,536
2,219
3,243
3 ,630
4,771
5 ,25 8
5 ,894
6,131
7 ,120
8,024

202
344
540

881
1,174
1 ,273
1,638
1,963
2,360
2,640
2,289
3,366
3,80 9
5,058
5 ,537
5 ,552
6 ,598
7 ,800
8,598

679
457
7 81
528
500
061
074
231
3 86
82 9
501
929
115
406
893
737
6 94
143
527
45 0
328
094
888
971
912
667
327
435
629
440
610
331
052
424

8
10
10
10
10
11
12
12
12
15
15
14
16
17
18
21
25
26
33
36
39
45
55
69
103
99
124
151
176
210
245
260
258
243

85 2
967
717
873
215
3 84
615
982
7 92
207
018
714
3 90
138
6 84
364
542
812
226
043
952
563
5 83
476
321
305
614
534
052
2 85
262
982
048
95 2

PERIOD

496
570
477
623
644
655
895
1 ,089
1,923
6 , 7 80
6 ,513
8,463
10,117
9,758
15 , 3 0 3
16,153
17,444
16 , 2 5 8
1 5 , 5 86

TOTAL FOR

49
46
183
2 94
401
332
660
699
749
85 9
93 8
1,055
1,328

1 9
25
602

1
2
2
2
2
2
3
3
3
3
3
3
4
4
4
5
6
6
8
9
9
11
13
16
25
22
30
37
43
50
60
65
59
62

IV Q

TOTAL FOR

T h e s e s e r i e s c o n t a i n no r e v i s i o n s b u t a r e r e p r i n t e d f o r the c o n v e n i e n c e of t h e u s e r .




95 5
83 8
915
96 8
818
992
132
074
0 83
411
210
266
479
455
559
85 8
288
198
951
07 8
423
179
612
644
002
3 88
97 2
158
246
632
934
274
5 81
451

OF PETROLEUM AND PETROLEUM PRODUCTS
( M I L L I O N S OF DOLLARS)

166
179
206
235
23 7
250
324
487
2,299
2 . 3 87
2 . 4 94
3,611
3,162
3 ,832
5 ,185
6 ,91 9
3 , 894
3 ,252

1
1
1
1
1
1
1
1
1
1
2
2
2
3
3
3
4
5
9
8
11
12
14
17
19
20
19
21

787
940
846
899
847
953
063
111
023
227
26 8
359
341
447
576
742
216
245
725
07 4
254
832
565
82 9
214
110
028
654
896
116
189
114
84 9
82 8

III Q

187
433
560
942
1,230
1,249
1 ,85 7
1 ,923
2,277
2 ,699
2,678
3,318
4,071
5 ,300
5 ,777
6 ,512
6 ,686
7 , 6 20
8,297

535
518
524
607
668
720
956
1,212
2,701
6 ,924

6,820

8,85 3
10,029
10 , 4 2 4
17 , 9 0 3

1 8,181
17 , 2 4 2
14,884
13 , 9 8 1

PERIOD

272
496
648
1,082
1 ,292
1,310
1,770
2 ,143
2,329
2,435
2,774
3 ,220
4,370
5 ,569
5 ,660
6 ,400
6 ,867
6,763
10,303

(NOVEMBER

1984)

C. Historical Data for Selected Series—Continued
Year

HIT T.Alt OR COST, PR TVATE
(1977-100)
19
41
43
44
46
45
46
49
50
50
51
52
52
52
52
53
54
56
58
61
6b
68
71

8

9
1
9
0
0
8
0
5
0
5
7
5
9
9
2
0
8
4
3
8
4
1
n 8
80 3
90 6
92 1
98 1
105 0
114 8
127 3
138 5
150 0
156 8

RENTAL

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

BUSINES S

39
42
43
45
45
45
48
49
50
51
52
52
52
52
53
53
55
57
59
64
67
69
71
76
B6
B9
95
100
108
121
134
142
155
155

6
5
8
5
6
1
0
7
3
1
1
3
6
5
1
3
7
1
6
1
5
8

1

3
0
6
9
1
9
2
4
9
3
1

SECTOR

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

40
42
44
45
45
45
48
50
49
51
52
52
52
52
53
53
56
57
60
65
68
70
72
77
88
91
97 1
102 4
111 3
124 0
137 1
147 1
155 9
156 8

INCOME OF PERSOMS WITH CCADJ AS A PERCENT
NATIONAL INCOME
(PERCENT)
3
2
2
3
3
3
3
3
3
3
3
3
3
3
3
3
3
3
2
2
2
2
2
2
2
2
1
1
1
1
1
1
2
2

287.

39
42
43
44
46
45
47
49
50
50
52
52
53
52
53
53
55
56
59
62
67
69
71
74
83
89
94
99
106
117
131
140
153
155

6
9
4
9
3
1
6
4
2
0
0
3
0

Annual

IV Q

III Q

ll Q

Q

CORPORATE

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

3
2
3
3
3
3
3
3
3
3
3
3
3
3
3
3
3
3
2
2
2
2
1
2
2
1
1
1
1
1
1
1
2
2

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

9
4

2

n
0
9
9
4
6
4
5
5
3
4
9
1
6
3
9
9
5
0
6
9
5
6
1
2
6
0
5
6
1

13
14
12
12
11
13
12
12
9
13
11
11
12
12
13
14
13
12
12
11
9
9
9
10
8
8
10
10
11
10
8
7
6
8

2
2
3
3
3
3
3
3
3
3
3
3
3
3
3
3
2
2
2
2
2
2
2
2
2
1
1
1
1
1
1
1
2
2

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

R

0

4

3

9

14
14
11
12
11
13
12
11
10
12
11
11
12
12
13
13
13
12
12
10
8
9
10
9
7
9
9
11
11
9
8
8
6
9

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

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

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

15
14
12
10
12
13
12
11
11
11
10
12
12
12
12
14
13
12
12
9
8
9
10
9
7
10
9
10
11
9
8
7
6
9

3
2
3
3
3
3
3
3
3
3
3
3
3
3
3
3
3
3
2
2
2
2
2
2
2
1
1
1
1
1
1
1
2
2

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

14
14
12
12
11
13
12
11
10
12
11
11
12
12
13
14
13
12
12
10
8
9
10
10
8
8
10
10
10
9
8
8
6
8

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

25
27
20
34
38
35
29
45
45
36
46
50
60
76
78
66
78
101
88
120
153
21 8
195
107
197
244
309
355
370
304
246
263

1 956

1962
1963

1 967
1968

1976
1978

1982

286.

492
100
116
116
940
036
140
236
992
80 8
308
880
504
036
156
088
244
0 96
5 96
1 96
668
668
844
176
300
256
824
248
288
920
632
148

29 84 8
24 0 1 6
23 2 9 2
36 6 8 8
33 8 2 4
35 9 7 6
29 764
50 9 9 2
39 724
35 3 4 8
48 7 44
57 0 3 6
61 8 5 6
66 , 6 8 8
81 5 6 0
64 . 3 1 2
77 8 8 8
1 0 2 7 84
87 , 3 4 4
123 6 6 4
148 ,436
1 88 , 8 8 0
208 ,992
1 0 4 , 6 96
193 , 7 7 6
2 6 4 . 7 92
348 ,356
3 7 1 , 6 80
200 ,872
371 , 2 4 0
2 95 , 5 2 8
3 89 , 1 6 4

27
22
28
40
35
32
29
48
38
43
47
55
65
71
58
72
85
94
86
144
154
192
180
137
201
303
339
405
298
312
26 8
3 84

1 88
6 80
124
968
588
088
896
756
244
568
376
492
184
200
040
972
208
816
776
612
224
708
0 84
996
248
540
836
500
124
43 2
224
480

29
16
29
43
34
28
42
40
34
47
50
58
63
66
44
81
99
92
94
127
190
173
144
166
226
304
399
314
360
247
275
527

772
332
744
372
196
104
984
84 8
676
612
800
456
432
912
652
160
760
448
220
700
496
444
496
2 84
312
516
144
924
93 2
764
268
176

CORPORATE PROFITS WITH IVA AND CCADJ
(ANNUAL RATE, BILLIONS OF DOLLARS)

1 950
1951
1 95 2
1 953
1 95 4
1 955
1 956
195 7

28
38
37
39
32
44
44
44
34
48
52
43
55
58
68
76
86
81
85
90
71
80
93
111
100
88
142
148
167
201
1 87
194
159
179

195 9

1 963
1 965
1966
1 967

1 970

1 973
1974
1 97 5
1 976
1 97 8

1981

(ANNUAL
2
3
3
4
5
5
6
7
9
10
11
12
13
15
17
20
23
26
29
32
38
45
48
57
68
82
85
96
112
142
181
222
263
254

1951
1 95 2

1 95 7
1 95 9

1 96 2

1965

196 8
196 9
1 970
1971

1 975
1 976

1980
1981

1984

N O T E : U n l e s s o t h e r w i s e n o t e d , t h e s e s e r i e s c o n t a i n r e2v i s i o n s b e g i n n i n g w i t h 1 9 8 1 .
'This series contains revisions beginning with 1 9 4 7 .
T h i s series contains revisions beginning with




AVERAGE

1950

AVERAGE
1
1
9
7
6
7
1
0
7
9
7
1
•s
9
9
1
?
•5
?
9
4
7
2
7
6
1
6
6
2
0
0
6
1
4

Annual

IV Q

III Q

II Q

I Q

1 1 0 . TOTAL FUNDS RAISED BY PRIVATE NONEIHAN CIAL BORROWERS
I S CREDIT MARKETS 2
(ANNUAL RATE. MILLIONS OF DOLLARS)

AVERAGE

PROFITS WITH IVA AND CCADJ AS A PERCENT
NATIONAL INCOME
(PERCENT)
12
14
13
13
11
13
12
12
9
12
12
10
12
12
13
13
14
12
12
11
8
9
10
10
8
7
10
10
10
10
9
8
6
7

39
42
43
45
45
45
47
49
50
50
52
52
52
52
53
53
55
57
59
63
67
69
71
75
84
90
95
100
108
119
132
142
153
156

Year

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

31
38
34
38
33
45
44
44
35
53
47
47
55
62
68
79
85
80
89
86
73
81
93
107
98
100
136
167
193
197
168
184
161
216

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

2 8 8 . NET INTEREST
RATE, BILLIONS OF
9
3
8

2

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

3
3
3
4
5
5
6
7
9
10
11
12
14
16
18
20
24
27
29
34
40
46
49
59
76
84
85
100
117
148
187
233
26 8
254

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

36
38
34
37
35
46
42
43
39
48
46
49
56
63
69
80
83
81
90
84
72
83
96
106
90
121
137
1 82
199
197
170
195
163
245

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

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

075
532
319
7 86
637
801
946
45 8
659
834
307
466
744
209
602
133
275
7 86
234
043
706
425
354
03 8
659
276
290
83 8
554
089
413
992

AVERAGE
39
39
38
30
38
46
43
40
44
48
44
53
58
64
69
83
85
85
90
78
68
87
103
108
89
130
135
171
208
183
175
184
151
26 0

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

3
3
4
4
5
6
6
8
10
10
12
13
15
17
18
21
25
28
30
36
44
47
54
63
81
85
89
108
133
166
20 8
254
253
258

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

DOLLARS)
3
3
4
4
5
6
6
8
9
10
11
13
14
16
18
21
24
27
30
35
42
47
52
61
78
85
88
105
124
158
193
253
257
259

28
22
25
38
35
32
32
46
39
40
48
55
62
70
65
71
85
97
89
129
161
193
182
129
204
279
349
361
307
309
271
3 90

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
1 89.9
159.1
225 . 2

AVERAGE
3
3
4
4
5
5
6
7
9
10
11
13
14
16
18
21
24
27
30
34
41
46
51
60
76
84
87
102
121
153
192
241
260
256

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

(NOVEMBER

1984)

1977.

103

C. Historical Data for Selected Series—Continued
III Q

l Q
NET

INTEREST AS A PERCENT
(PERCENT)

1.9

2.1

2 .6
2 .5
2.9
3.1

3.8
4.1
4.2
4.3
4.8
5 .3

3.9
4.2
4.2
4.4
5 .0

5 .2
5 .4

6.0

7.0
6 .3
6 .5

6.8

6 .6
6.7

7 .5
8.7
9.7
10 . 9

10.1

OF NATIONAL

IV Q

Annual

INCOME

Year
290.

AVERAGE
1
1
1
1
1
1
1
2
2
2
2
3
3
3
3
3
3
4
4
4
5
5
5
5
6
6
6
6
6

2
3
4
4
8
8
9
2
7
6
8
1
2
4
5
7
9
2
1
5
2
4
4
6
7
8
4
6
9
1 9
9 1
10 5
5
9 7

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

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

1
1
1
1
1
1
1
2
2
2
2

2
3
4
4
8
8
9
2
6
6
8
0
3 2

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

9

1950
1951

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
121.8
142 .6
128.0

(ANNUAL

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
122.1
136.7
96.7

1956
1 95 8
195 9
1960

1963

1 968
1 970

1 97 3
1974
1 975
1 977
1 979

1983

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
355.8
378.3
417 .0

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
364.1
386.2
441.4

5.4

104



13.6
17.7

18.2

16.8

19.7

18.8

19.6

16.0
17.3
21.9
23 . 0
24.4
18.7

17.6
23.0
21.5
25 . 6
20.4

16.8

20.0

18.2

24.6
23 . 3
20.9
29.1
37.8
35.9
44 .7
37 . 5
45.7
59.8
61.0
50.5

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

81.0
80.7
91 . 8

81.1

88.0

86.9
89.5
98.6

90 . 0
87.3
114.6

112.2

160.6

145 .0
134.5
119.0

13 0 . 2
128.7

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
137.4
136 . 0

118.1

1950.
1951 .
1952.
1953.
1954.
1 955 .
1956 .
1 957 .
1 95 8 .

8
4
7
6
7
5
6
7
7
6
6
5
6
5
6
6
6
8
7
5
6
8
6
7
8
7
7
5
6
6
5
6
6
5

1959.
1960.

1961.

1 962.
1963 .
1964.
1965.
1966 .
1967 .
1968.

1969.

1 970.
1971.

1972.

1973.
1974.
1 975 .
1976.
1 977 .
1978.

1979.

1980.
1 981.
1982.
1983.
1984.
298.

31 . 0
37 . 7
36.6
38.4
41.4
48.8
50.1
52 .4
52.2
57.7
58.3
60.7

32.9
37 . 8
39.1
36 . 5
43 . 9
49.0
49.9
51 . 5
55.9
58.5
57 . 4

62.2

66.8

69.4
72.2
77 . 3
88.3
95 . 9
99.7

71 . 5
77.2
86.4
91 . 9
95 . 5
101.1
104 .4
104.3

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

102.8

136.9
148.7
143 .6
195 . 8

212.0
263 .1
291.5
318.7
328.0
3 80 . 3
3 93.8
469.7

1981.

100.0

101 . 4
103 . 8
126 . 5
141 . 5
152.8
155.7
206 . 4
214.9
258.9
302 .0
313.9
334.7
390.2
393.9
486.4

120.8

These series contain revisions beginning with

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

PERSONAL SAVING
OF DISPOSABLE

2 9 5 . BUSINESS SAVING
RATE, BILLIONS OF DOLLARS)

28.8

39
57
54
51
46
61
73
77
61
75
88
72
86
88
99
119
125
123
131
149
148
158
176
221
231
199
255
275
341
423
40 8
46 9
447
3 93

1954

2 9 2 . PERSONAL SAVING
(ANNUAL RATE. B I L L I O N S OF DOLLARS)
16 . 4
9.1
16.9
16 . 8
19.0
14.5
19.1
21 . 7
22 . 4

II Q

I Q

103 . 0

102.8
119.3
137 . 0
148.7
149.4
188.4
211.9
248.9
284.6
310 .6
325 .2
372.6
388.0
453 .6

1950.
1951.
1952.
1953 .
1954.
1 955 .
1 956 .

1957.
1958.
1959.

1960.
1961.
1962.
1963.
1964.
1965.
1966.
1967 .
196 8 .

1969.
1970.

1971.
1972.

1973.
1974.
1975.
1 976 .
1 977 .

1978.
1979.

IV Q

GROSS S A V I N G — P R I V A T E SAVING PLUS GOVERNMENT SURPLUS
OR DEFICIT
(ANNUAL RATE. BILLIONS OF DOLLARS)

1 980.
1981.
1982.
1983.
1984.

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

47
60
48
52
48
66
74
76
57
84
81
76
86
94
100
121
128
120
134
151
152
160
182
231
231
208
260
305
372
43 2
400
475
445
414

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

52
56
48
51
50
69
76
76
61
75
79
81
87
94
105
1 20
1 25
1 25
1.16
158
151
167
1 87
23 8
721
778
758
179
3 83
411
398
503
197
455

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

63
53
52
44
57
72
78
69
69
78
74
84
86
96
11 0
119
129
131
14?
154
141
165
200
250
226
218
256
175
402
404
41 6
489
144
485

AVERAGE

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

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
2 3 5 .5
227 . 8
218.9
257 . 9
309.1
374.8
422.7
405 .9
484.3
408.8
437 .2

6
7
6
7
6
6
7
6
7
5
5
6
5
5
7
7
7
8
6
6
8
7
7
9
8
8
5
6
5
5
6
7
5
5

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

5
7
7
7
6
6
7
7
7
6
5
6
6
5
6
7
7
8
7
6
8
8
6
8
8
8
6
5
6
5
6
6
6
5

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

16
-2
-3
-11
-3
5
5
-3
-11
-0
-1
-2
-3
0
0
-4
-6
-13
0
8
-20
-18
-2
7
-18
-59
-31
-21
10
2
-33
-62
-179
-129

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

8
6
-3
-6
-7
3
5
0
-12
-1
3
-4
-3
0
-2
0
-1
-14
-6
9
-10
-19
-3
7
-4
-63
-36
-17
0
14
-30
-26
-115
-134

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

RATE—PERSONAL SAVING AS A PERCENT
PERSONAL INCOME
(PERCENT)
5
8
6
7
6
5
7
7
6
6
5
6
6
5
6
6
6
7
7
5
8
8
5
8
8
10
7
5
5
6
6
6
6
4

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

2
8
8
7
6
6
7
7
7
5
5
6
6
5
6
7
6
8
6
7
8
8
6
8
8
8
6
6
6
5
6
7
6
5

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

GOVERNMENT SURPLUS OR D E F I C I T . TOTAL
(ANNUAL RATE. BILLIONS OF DOLLARS)
-6
18
-0
-5
-11
0
5
3
-10
-4
7
-5
-5
-1
-2
5
1
-14
-9
11
2
-18
-7
8
4
-43
-46
-13
-16
22
-7
-9
-73
-151

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

6
7
-4
-5
-7
3
4
1
-14
0
4
-5
-3
2
-6
4
2
-15
-12
11
-10
-21
-3
7
-2
-93
-34
-15
7
20
-3 8
-11
-77
-123

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

15
0
-7
-5
-6
3
4
1
-15
-1
1
-3
-2
1
-1
-3
-2
-14
-2
8
-13
-20
-0
8
-2
-5 8
-34
-20
2
12
-43
-23
-130
-133

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

(NOVEMBER

1984)

G. Experimental Data and Analyses
(Nov.)

Components of BCD series 26
Year
and
quarter

Implicit price
deflator, gross
nonfarm business
product
(Index: 1977=100)

1

iv

Unit labor cost,
all persons, nonfarm
business sector

(Nov.)
T

i m m i m n

Ratio scale
170
160
150
140
130
120
110

Components of BCD series 2 6 —

f

(Index: 1977=100)

146.5
148.6
149.3
150.2

q...

(Jan.HJuly) (July)
P T
P

i i i i i i l i i i k f c w i i i i i i

Implicit price deflator, gross nonfarm
business product, Q
(index: 1977 = 100)

1982
I Q....
II Q . . .
III q..

(Mar.)

151.4
154.2
155.6
157.1

170
160

1983

150

q....
q...
i n q..
iv Q . . .

140

i

151.9
152.7
153.8
155.2

i i

157.6
155.9
155.9
157.1

130

Unit labor cost, all persons, nonfarm
business sector, Q
(index: 1977 = 100)

120
110

1984
I

100

q....

156.3
157.3
pl58.7

II Q . . .
III q..

158.3
157.6
pl59.1

90
80

iv q . . .

Inventory-sales ratios in 1972 dollars'
Year
and
month

Manufacturing
(Ratio)

Merchant
wholesalers
(Ratio)

Arithmetic
scale

Inventory-sales ratios in 1972 dollars ( r a t i o ) —

Retail trade
(Ratio)

1983
Jan..
Feb..
Mar..
Apr..
May..
June.

1.96
1.96
1.91
1.90
1.87
1.81

1.44
1.47
1.45
1.46
1.38
1.34

1.36
1.38
1.35
1.35
1.33
1.31

July.
Aug..
Sept.
Oct..
Nov..
Dec..

1.83
1.80
1.78
1.77
1.74
1.69

1.35
1.35
1.35
1.34
1.34
1.32

1.31
1.33
1.32
1.32
1.32
1.31

Jan..
Feb..
Mar..
Apr..
May..
June.

1.71
1.72
1.72
1.74
1.74
1.75

1.30
1.34
1.33
1.34
1.30
1.29

1.29
1.33
1.36
1.34
1.32
1.30

July.
Aug..
Sept.
Oct..
Nov..
Dec..

rl .77
1.76
pl .80

1.32
rl .34
p l .37
(NA)

1.33
rl .35
pl .33
(NA)

1984

(NA)

1971

1972

1973

1974

1975

1976

1977

1978

1979

1980

1981

1982

1983

1984

NOTE: The "r" indicates revised; "p", preliminary; and "NA", not available.
'Source: U.S. Department of Labor, Bureau of Labor Statistics.
2
Source: U.S. Department of Commerce, Bureau of Economic Analysis.




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
1
unemployment insurance (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
2
1972 dol., smoothed (ann. rate, bil. dol.) .
99. Change in 2 sensitive materials prices,
smoothed (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)
3
910. Composite index of 12 leading indicators
(index: 1967=100)
ROUGHLY COINCIDENT INDICATORS
41. Employees on nonagricultural payrolls
(thousands)
51. Personal income less transfers in 1972
dollars (annual rate, billion dollars). . . .
47. Industrial production, total
(index: 1967=100)
57. Manufacturing and trade sales in 1972
dollars (million dollars)
920. Composite index of 4 roughly coincident
3
indicators (index: 1967=100)
LAGGING INDICATORS
1
91. Average duration of unemployment
(weeks)
77. Ratio, constant-dollar inventories to sales,
manufacturing and trade (ratio)
62. Labor cost per unit of output, manufacturing-actual data as a percent of trend (percent) .
109. Average prime rate charged by banks
(percent)
101. Commercial and industrial loans outstanding
in 1972 dollars (million dollars)
95. Ratio, consumer installment credit to
personal income (percent)
3
930. Composite index of 6 lagging indicators
(index: 1967=100)

July
1984

July
to
Aug.
1984

Oct.
1984

Sept.
1984

Aug.
1984

Aug.
to
Sept.
1984

Sept.
to
Oct.
1984

40.5

r40.5

r40.6

p40.5

0.00

0.08

-0.09

365

358

368

405

0.05

-0.08

-0.32

37.86

37.90

r3 6.6 8

p36.3 4

0.01

-0.16

-0.05

60

54

58

52

-0.24

0.16

-0.29

rl15 . 5

r l 1 8 . 2

r 11 9 .6

pl19.9

0.32

0.16

0.04

15.41

15.45

rl5

pl4.63

0.01

0.04

-0.20

126.4

121.6

116.3

114.5

-0.12

-0.13

-0.06

r18.76

r l 4 . 2 6

pl6.51

NA

-0.25

0.13

NA

- 0 . 6 4

-1.05

-1.06

-0.81

-0.16

-0.01

0.12

151.08

164.42

166.11

164.82

0.53

0.06

-0.06

r919 . 4

r918.9

r921. 5

p922.9

-0.02

0.09

0.06

.3

NA

-0.21

0.11

NA

r 16 5 . 0

pl63 . 8

0.06

0.61

-0.73

0.15

0.20

0.50

.02

0.31

0.21

0 .03

-0.15

0.00

14.1
r163 . 9

94,350
r1,184.2

10.1
164.0

r94,523
rl,183 . 7

.77

r l 2

r94,754

p95,195

r l , 1 9 1 . 1

p l , 1 9 5 . 0

-0

165.9

166.1

r 16 5 . 2

p 16 5 . 2

r176,515

rl76,762

p 17 5 , 3 2 0

NA

0.03

-0.18

NA

p156 . 6

0.06

0.00

0.51

16.5

0.33

0.08

0.38

155.7

r l 55 . 8

155.8

18.1

17.3

17.1

1 . 54

1.55

p l . 57

NA

0.13

0.26

NA

83.6

83 . 4

83.1

p 82 . 8

-0.07

-0.11

-0.16

12 . 9 7

12.58

-0.02

-0.40

13 . 0 0

13.00

117,268

118,087

r14.44

r l 4 . 5 5

118.8

120.0

0 .00

p12 2 , 223

0.18

0.38

0.77

pl4.5 9

NA

0.42

0.15

NA

r l 2 0 . 9

p 121. 7

1.01

0.75

0.66

119,806

NOTE: The net contribution of an individual component, is that component's share in the composite movement of the group. It
is computed by dividing the standardized and weighted change for the component by the sum of the weights for the available components and dividing that result by the index standardization factor. See the 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.
'This series is inverted in computing the composite index; i.e., a decrease in this series is considered an upward movement.
This series is a weighted 4-term moving average (with weights 1,2,2,1) placed on the terminal month of the span.
'Figures in the net contribution columns are percent changes in the index. The percent change is equal (except for rounding
differences) to the sum of the individual 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
j 1 1 1 1 1 1 1 1 1 1 1 1 1 1 i i 1 1 1 1 1 1 1 1 1 1 1 M | M 1111111 i i i

Actual
data
(percent)

32. Vendor performance, percent of

lll|lllll|lllll|lllll|lllll|lllll|lllll|lllll|

MONTIS
FROM
REF.
TROUGH

companies receiving slower deliveries

0

CURRENT
ACTUAL
DATA

MONTH
AND
TEAR

Deviations
from
specific
troughs

32. Vendorjierformance, percent of
companies receiving slower deliveries

SERIES
32
PERCENT
REPORTING

Actual
data
for
current
cycle

m .

59

11/83

13
14
15
16

67
63
68
72

12/83
1/84
2/84
3/84

17
18
19
20

71
70
66
60

4
5
6
7

21
22

54

8/84
9/84

Actual

58
52

23
70

MONTHS
FROM
SPEC.
TROUGH

60

/
/
/
/

8
8
8
8

40
CURRENT
ACTUAL
DATA

MONTH
AND
YEAR

78. Stocks of materials and supplies

Deviations
from
reference
peaks

on hand and on order, mfg.

30

72
71
70

3/84
4/84
5/84

25
26
27
28

Actual
data
for
current
cycle

2/84

42
41
40
36
30
24
28

66
60
54
58

6/84
7/84
8/84
9/84

22

52

20

1/84

68

22
23
24

10

1

63

38

29
-

37
33

21

20

29

19
20

30

100

10/84

1 8

40

•

50

DEVIATIONS
FROM
5/82

70

60

4
4
4
4

SERIES
32
PERCENT
REPORTING

SO

-

1

10/84

MONTHS
FROM
REF.
TROUGH

59
67

DEVIATIONS
FROM
7/81

CURRENT
ACTUAL
DATA

11/83
12/83

10

78. Stocks of materials and supplies
on hand and on order, mfg.
Percsnt
70

MONTH
AND
YEAR

SERIES
78
BIL.
DOL.
11
12

-7
-7

9
1

204
206

38
15

10/83
11/83

13
14
15
16

-

6
4
3
2

0

208
211
214
216

59

12/83

45
16
59

1/84
2/84
3/84

17

-1
-0
-0
0

4

18
19
20

2
6
4

218
221
220
222

87
42
44
85

4/
5/
6/
7/

21
22

0
0

2
4

222
222

33
79

8/84
9/84

Percent
+ 3 0

• 280
+

7
5
4

25

+20

•

265

MONTHS
FROM
SPEC.
TROUGH

DEVIATIONS
FROM
12/82

CURRENT
ACTUAL
DATA

8
8
8
8

4
4
4
4

MONTH
AND
YEAR

SERIES
78
BIL.
DOL.

+ 5

-

-12

- 6

0

+

6

+ 1 2

+18

+ 2 *

1

- 1 5

205

•

190

9

204

38

9
1

206
208

15
59

11/83
12/83

10
12

6
1

211

45

13
14

3
5

214
216
218

16
59
87

2/84
3/84
4/84

17
18

15

42

5/84

19
20

9
3
6
3

221

15
16
16

220
222
222

44
85
33

6/84
7/84
8/84

16

6

222

79

9/84

+ 3 0

Months from reference troughs

NOTE:

•230

1/84

15
16

20

10/83

7
9

21

•

6

13
14

• 220

10
11
12

• 220
10

#210

• 200

-12

- 6

0

+ 6

+12

+18

+ 2 4

+

30

Months from specific troughs

F o r an e x p l a n a t i o n o f t h e s e c h a r t s , see "How t o Read C h a r t s " on p . 106 o f t h e J u l y 1984 i s s u e .




107

G. Experimental Data and Analyses—Continued
Cyclical Comparisons: Current and Selected Historical Patterns—Continued
Deviations
from
reference
peaks

Actual
data
for
current
cycle

III1111111111II

MONIES
FROM

DEVIATIONS

CURRENT

REF.
TROUGH

FROM
7/81

ACTUAL
DATA

MONTH
AND
YEAR

Deviations
from
specific
troughs

73. Industrial production, durable
manufactures

SERIES
73
1967-100
12

0

143 . 6

11/83

13
14
15
16

1

0
3 .5
4. 8
5 4

145 0
148. 6
150. 5
151. 4

12/83
1/84
2/84
3/84

17

6

18
1 9
20

6. 8
7. 9
9. 5

152. 6
153. 3
154. 9
157. 2

10. 1
9. 5
9. 5

158. 1
157. 2
157. 3

8/84
9/84
10/84

CURRENT
ACTUAL
DATA

Actual
data
for
current
cycle

MONTH
AND

21
22
23
MONTHS
FROM
SPEC .
TROUGH

3

4
5
6
7

/
/
/
/

8
8
8
8

Percent
- I

4
4
4
4

35

30

# 1 55

DEVIATIONS
FROM
11/82
SERIES

YEAR

73
967-100

12

20

4

143

6

11/83

13
14

21

5
6
2
9

145
148
150
151

0
6

12/83
1/84
2/84
3/84
4/84
5/84
6/84

8/84
9/84
10/84

15
16

24
26
26

17
1 8
19
20

27
28
29
31

9
5
8

152
153
154

8

157

6
3
9
2

21
22
23

32

5
8
9

158

1

157
157

2
3

MONTHS
FROM
REF.
TROUGH

31
31

DEVIATIONS
FROM
7/81

5
4

CURRENT
ACTUAL
DATA

7/84

MONTH
AND
YEAR

SERIES
4 .6

174 .8

11/83

13
14
15
16

4 .1
4 .8
6 0
6 3

173 .9
175 2
177 2
177 6

12/83
1/84
2/84
3/84

17
18
19
20

7
7
8
8

.2
.7
.5
.8

179 .1
179 .9
181 3
181 . 8

4/84
5/84
6/84
7/84

21
22
23

8 7
8 .2
8 .6

1 81 7
180 8
1 81 . 4

8/84
9/84
10/84

CURRENT
ACTUAL
DATA

manufactures

74
967-100

12

74. Industrial production, nondurable

MONTH
AND
YEAR

MONTHS
FROM
SPEC .
TROUGH

DEVIATIONS
FROM
5/82

-

16

•180

—

0

#155

SERIES
74
1967 =100

- *

• 1 60

12 . 8
12 .2
13 . 0

174 8
173 . 9
175 .2

12/83
1/84

14 .3
14 .6
15 . 5
16 . 1

177 .2
177 .6
179 . 1
179 .9

3/84
4/84
5/84

27
28

17
17
17
16

181
181
181
180

29

-

18

17 . 0

19
20
21
22
23
24
25
26

—1

-12

- 6

0

+ 6

+ 1 2

+18

+ 2 4

- 1 6

#140

.0
.3
.2
.6

.3
. 8
.7
. 8

181 . 4

11/83

2/84

6/84
7/84
8/84
9/84
10/84

+ 3 0

Months from reference troughs

NOTE:

108

For an e x p l a n a t i o n o f t h e s e c h a r t s , see "How t o Read C h a r t s " on p . 106 o f t h e J u l y 1984 i s s u e .




- 1 2

- 6

0

+ 6

+ 1 2

+18

+ 2 4

Months from specific troughs

+

30

G. Experimental Data and Analyses—Continued
Cyclical Comparisons: Current and Selected Historical Patterns—Continued
H11111111111|11111[11111111IIij11111111111

Deviations
from
reference
peaks

86. Nonresidential fixed investment,
total, 1972 dollars

Actual
data
for
current
cycle

QRTRS.
DEVIFROM A T I O N S
REF.
FROM
TROUGH 1 1 1 / 8 1

CURRENT
ACTUAL
DATA

SERIES
86
ANN.
RATE
BIL.
DOL
0

- i

+ 2 0

•

210

+15

•

190

•

161.5

IV/82

-9
-7
-3

3
2
1

161.6
165.3
172.6

1/83
11/83
111/83

3

5

184.5

IV/83

5
6
7

8
13
1 8

5
9
1

193.3

1/84
11/84
111/84

ISO

202.9
210.5

+10

—

4

200

•

-

-9

1
2
3
4

Percent

Devi- Actual
ations
data
from
for
specific current
troughs cycle

QRTR.
AND
TEAR

+ 5

QRTRS.
FROM
SPEC.
TROUGH

DEVIATIONS
FROM
IV/82
SERIES

0

- 1 0

•

86

0.1

170

161.6
165.3
172.6
184.5

160

5

25.6
30.3

1/84
11/84
I I I / 8 4

CURRENT

19.7

6
7

1/83
11/83
III/83
IV183

193.3
202.9
210.5

2.4
6.9
14.2

•

QRTR.
AND
TEAR

ANN.
RATE
BIL.
DOL.
161.5
IV/82

0.
- 5

CURRENT
ACTUAL
DATA

QRTR.
AND
YEAR

- 1 5
-

89. Residential fixed investment in
1972 dollars
QRTRS.
FROM
REF.
TROUGH

DEVIATIONS
FROM
111/81

ACTUAL
DATA

SERIES

89

ANN.
RATE
B I L . DOL
40.8
IV/82

0

•

- 4
7
24
33
35

6
0

53 . 4
57.2
57.8

11/83
1 1 1 / 83
IV/83

5
6
7

»60

+ 40

1
2
3
4

-

41
42
40

6
1
4

60.6
60.8
< 60.1

1/84
11/84
II1/84

7
9
8

46.2

1/83

55

•

50

•

40

•

35

QRTRS.
FROM
SPEC.
TROUGH

DEVIATIONS
FROH
1/82

CURRENT
ACTUAL
DATA

SERIES

QRTR.
AND
YEAR

89

ANN.
RATE
BIL.
DOL.
40 8
IV/82

3

->

-12

- 6

0

+ 6

+12

+18

M o n t h s f r o m r e f e r e n c e troughs

NOTE:

+ 2 4

- 3 0

12.7

4

27.6

46

2

1/83

5
6
7
8

47.5
58.0
59.7
67.4

53
57
57
60

4
2
8
6

11/83
111/83
IV/83
1/84

9
10

68.0
66.0

60
60

8
1

11/84
I I I / 8 4

+ 3 0

0

+ 6

+12

+18

+ 2 4

+ 3 0

M o n t h s f r o m specific troughs

For an e x p l a n a t i o n o f t h e s e c h a r t s , see "How t o Read C h a r t s " on p . 106 o f t h e J u l y 1984 i s s u e .




109

ALPHABETICAL INDEX—SERIES FINDING GUIDE—Continued
Series title
(See complete titles in "Titles and
Sources of Series," following this index)

Accession rate, manufacturing
Agricultural products, exports
Anticipations and intentions
Business expenditures, new plant and equipment
Business expenditures, new plant and equipment D i . .
Consumer sentiment, index
Employees, manufacturing and trade, 01
Inventories, manufacturing and trade, DI
New orders, manufacturing, 01
Prices, manufacturing, DI
Prices, retail trade, DI
Prices, wholesale trade, 01
Profits, manufacturing and trade, DI
Sales, manufacturing and trade, DI
Automobiles
Imports of automobiles and parts
Personal consumption expenditures

Current issue
Scries
number

(page

Charts

)
Tables

Historical
data
(issue date)

Series
description

7
56

numbers

n

2
604

56

92'

8/81
11/84

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

8/84
8/84
1/84
5/83
5/83
5/83
5/83
5/83
5/83
5/83
5/83

23
23
20
37
37
37
37
37
37
37
37

616
55

56
22

92
65

11/84
9/84

56
39

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, DI
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
s saving

Canada—See International comparisons.
Capacity utilization
Manufacturing (BEA)
Manufacturing (FRB)
Materials
Capital appropriations, manufacturing
Backlog
Newly approved
Newly approved, DI
Capital equipment, producer price index
Capital investment—See Investment, capital.
Capital investment commitments, CI
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
Diflusion 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 o1 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




93
94

33
33

6/83
6/83

35
35

29
76
61
970
14
12
13

13,25
24
24
38
33
12,23
23

67
67
67
76
72
65
65

7/84
8/84
8/84
8/84
5/83
2/83
5/83

24
12
23
23
34
21
21

101
72
112
295

15,35
35
32
46

73
73
72
82

6/84
6/84
6/84
11/84

32
32
32
26

83
82
84

20
20
20

64
64
64

12/83
8/83
8/83

14
14
14

97
11
965
333

24
24
37
48

66
66
75
86

12/83
12/83
12/83
3/84

22
22
22
51

914
35
34

U
29
29

60
70
70

7/84
9/84
9/84

5
26
26

442
90
441
37

51
17
51
18,51

89
62
89
62,89

2/84
2/84
2/84
2/84

9
9
9
9

920
920c
951
940
9

10
39
36
11
23

60

5

74'
60
66

1/84
1/84
2/83
7/84
12/83

"5"

101
72
112

15,35
35
32

73
73
72

6/84
6/84
6/84

32
32
32

345
280

49
45

87
82

12/83
10/84

46
46

64

30,47

70,83

9/84

46

346

49

88

12/83

46

340

49

87

8/84

5

341
348
349

49
50
50

87
88
88

8/84
12/83
12/83

5
53
53

53

19

63

9/84

11

920
920c
940

10
39
11

60
'M

1/84
1/84
7/84

"5 '

930
930c

10
39

60

1/84
1/84

5

914
915
913
917

11
11

60
60

ii

60

7/84
7/84
2/83
7/84

5
5
5
5

5
21

5

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'
Unfitted 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, 5 0 0 common stocks
Workweek, manufacturing production workers
Workweek, manufacturing production workers,
components
Disposable personal income—See income.

Current issue

wu

OKI 169 .

Series

ucavi ipw
<*)

number

Charts

Tallies

(issue date)

916
910
910c

11
10
39

60
60

7/84
1/84
1/84

5
5

29

13.25

67

7/84

24

9
69

23
24

66
67

12/83
9/84

21
17

248
87
86
249
89
28
334
8
75

47
25
25
47
25
25
48
12,21
22

83
67
67
83
67
67
86
64
65

10/84
9/84
9/84
10/84
9/84
4/84
3/84
4/84
8/84

40
40
40
40
40
24
51
15
12

66
113
95
39

35
32
15.35
33

73
72
73
72

6/84
6/84
9/84
11/83

33
33
33
34

320
322
58

49
49
22

84,95
84
65

4/84
4/84
1/84

49
49
20

525

53

90

11/84

55

20

12,23

66

6/84

21

10
116

23
34

66
73

6/84
8/83

21
35

110

32

72

11/84

34

101
72
112

15.35
35
32

73
73
72

6/84
6/84
6/84

32
32
32

66
113
95
39
111
33

35
32
15,35
33
13,32
32

73
72
73
72
72
71

6/84
6/84
9/84
11/83
6/84
5/84

33
33
33
34
31
31

98
331

28
48

69
85

3/84
3/84

51
50

557

54

91

11/84

13

517
543
580
578
577
525

53
53
54
55
55
53

90
90
91
91
91
90

1/84
11/84
7/83
1/84
1/84
11/84

55
55
56
56
56
55

559
548
588
561
570
564
565

54
53
54
54
55
55
55

91
90
91
91
91
91
91

6/84
6/84
6/84
6/84
7/84
9/84
9/84

17
15
17
15
5
43
43

39
32

33
12,21

72
64

11/83
5/83

34
17

970
965
951
974
963
966

38
37
36
38
36
37

8/84
12/83
2/83
5/83
7/84
8/84

23
22
5
37
5
12

962
975
952
950
964

36
38
36
36
37

5/83
5/83
2/83
2/83
6/84

"s"
37
5
5
15

971
960
972
967

38'
37
38
37

5/83
12/83
5/83
6/83

37'
37
37
25

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
7/84

37'
37
37
37
25
5

ALPHABETICAL INDEX—SERIES FINDING GUIDE—Continued
Series title
(See complete titles in "Titles and
Sources of Series," following this index)

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 adiustments, CI
Overtime hours, manufacturing production workers..
Participation rate, both sexes, 16-19 years old
Participation rate, females 20 years and over
Participation rate, males 2 0 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 2 0 years and over
Unemployed, full-time workers
Unemployed, males 2 0 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.

Federal funds rate
Federal Government—See Government.
Federal Reserve, member bank borrowing f r o m . .
Final sales in constant dollars
Financial flows, CI
Fixed investment—See Investment, capital.
Fixed-weighted price index, gross domestic
business product
Food—See Consumer prices.
Foreign trade—See International transactions.
France—See International comparisons.
Free reserves

Series
number

Current issue
(page numbers)
Charts

Tables

Historical
data
(issue date)

Series
description

C)

2
441
578
577

51
55
55

89
91
91

8/81
2/84
1/84
1/84

7
9
56
56

48c
48

39
17

6i

5/84
5/84

17
38
14,17
36
55
17
51
16
16
12,16
36

62
76
62
74
91
62
89
61
61
61
74

i6'
51
51
51
51
17

6i'
89
89
89
89
62

si'
51
51
51
15,18
18
18
18
18,51
12,16

89
89
89
89
62
62
62
62
62,89
61

7/84
5/83
7/84
7/84
7/84
2/84
2/84
2/84
2/84
5/83
5/83
8/81
2/83
7/84
2/84
2/84
2/84
2/84
2/84
8/81
2/84
2/84
2/84
2/84
2/84
2/84
4/84
2/84
2/84
7/84

961

36

77
74

7/84

5
37
5
5
5
9
9
9
9
8
8
7
5
5
9
9
9
9
9

"9"
9
9
9
9
9
8
9
9
5

"5"

119

34

72

10/83

35

94
213
917

33
40
11

72
80
60

6/83
10/84
7/84

35
38
5

311

48

84

9/84

49

93

33

72

6/83

35

49

20

63

9/84

14

502
501
500
512
511
510
298

52
52
52
52
52
52
46

90
90
90
90
90

9/84
9/84
9/84
9/84
9/84
9/84
11/84

53
53
53
53
53
53
48

263
262
265
564
565
267
266

43
43
47
55
55
43
43
47
43
43

81

10/84
10/84
10/84
9/84
9/84
10/84
10/84
10/84
10/84
10/84

43
43
43
43
43
43
43
43
43
43

48
30

84

9/84
9/84

49
28

19,40

63,80

39
40

80

31

71
63
84

10/84
10/84
10/84
10/84
10/84
10/84
9/84
9/84
9/84
10/84

38
38
38
38
38
30
14
38
38

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 M l
Goods output in constant dollars
Implicit price deflator
Per capita GNP, constant dollars
Gross private domestic investment—See Investment, capital.

268
261
260
311

68

50
50b
50c

200
200b
200c
107
49
310
217

20

48
40

81
83
91
91

81
81
83

81
81
70

80

80
80

H
Help-wanted advertising in newspapers
Help-wanted advertising, ratio to unemployment,..
Hours of production workers, manufacturing
See notes at end of index.




Average weekly overtime
Average workweek
Average workweek, components
Average workweek, Dl
Housing
Housing starts
Housing units authorized by local building permits..
Residential GPDI, constant dollars
Residential GPDI, percent of GNP

Current issue
(page numbers)

Series
number

Charts

21
1

16
12,16

961
28
29
89
249

Tables

Historical
data
(issue date)

Series
description
C)

7/84
7/84

5
5

36

61
61
77
74

7/84

"5"

25
13,25
25
47

67
67
67
83

4/84
7/84
9/84
10/84

24
24
40
40

310

48

84

9/84

38

345
280

49
45

87
82

12/83
10/84

46
46

"5"

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

Series title
(See complete titles in "Titles and
Sources of Series," following this index)

46
60

2/84
2/84

Implicit price deflator, GNP
I m p o r t s - S e e 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 i n c o m e .
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
Interest, 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
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
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 r a t e . .
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

9/84

46

346
95
286

49
15,35
45

88
73
82

12/83
9/84
11/84

46
33
26

287
225
224

47
40
40

83
80
80

11/84
10/84
10/84

26
11
11

227

40

80

10/84

11

340

49

87

8/84

5

341
652
651
288
289
220
52
223

49
57
57
45
47
45
19
40

87
93
93
82
83
82
63
63

8/84
8/84
S/B4
11/84
11/84
10/84
9/84
9/84

5
57
57
47
47
46
11
11

51c
51
108
282

39
14,19
31
45

'63
71
82

9/84
9/84
9/84
10/84

ii'
30
47

283
284

47
45

83
82

10/84
10/84

47
47

285
348
349

47
50
50

83
88
88

11/84
12/83
12/83

47
53
53

53
13
335

19
23
48

63
65
85

9/84
5/83
3/84

11
21
51

76
75
73
74
47

24
22
20
20
14,20,58

8/84
8/84
8/84
8/84
8/84

12
12
12
12
12

966
47c

37'
39

67
65
63
63
63,94
78
75

8/84
8/84

i2'

967
23

37'
28

79
75
69

6/83
6/83

25'
25

5
962
45
288
289

12,16
36
18
45
47

61
74
62
82
83

5/83
5/83
4/84
11/84
11/84

8
8
8
47
47

67
116
119
118
117
109
114
115
332

35
34
34
34
34
35
34
34
48

73
73
72
73
73
73
72
73
86

12/83
8/83
10/83
10/83
10/83
7/83
8/83
8/83
3/84

35
35
35
35
35
35
35
35
50

733
736
737
738
732
320
735

59
59
59
59
59
49
59

96
95
96
95
95
84,95
95

4/84
4/84
4/84
4/84
4/84
4/84
4/84

60
61
61
61
60
49
61

723
726
727
728
721
722
47
725

58
58
58
58
58
58
14,20,58
58

94
94
94
94
94
94
63,94
94

5/84
5/84
5/84
5/84
5/84
5/84
8/84
5/84

59
59
59
59
58
58
12
59

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 ol 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, CI
Manufacturing and trade, book value
Manufacturing and trade, change in book value
Manufacturing and trade, constant dollars
Manufacturing and trade, DI
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, DI
Capital investment commitments, CI
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, 01
Contracts and orders, constant dollars
Contracts and orders, current dollars
Investment, foreign
Income on foreign investments in the United S t a t e s . . .
Income on U.S. investments abroad
Italy—See International comparisons.

Current issue
(page numbers)

Series
description
<*)

number

Charts

Tables

Historical
data
(issue date)

743
746
747
748
742
19
745

59
59
59
59
59
59
59

96
96
96
96
96
96
96

1/84
1/84
1/84
1/84
1/84
1/84
1/84

63
63
63
63
63
25
63

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

8/84
8/84
8/84
11/84
11/84
10/84
10/84
8/84
11/84
8/84
11/84
11/84
10/84
10/84
8/84
11/84
8/84
8/84

57
57
57
56
56
44
44
57
56
57
56
56
44
44
57
56
57
57

255

44

82

10/84

44

250
251

44
47

82
83

10/84
10/84

44
44

30
245
247
559
65
36
77
915
71
31
70
975

26,42
42
47
54
27
13,26
15,27
11
27
26
27
38

68,81
81
83
91
68
68
68
60
68
68
68
76

78

27

38
97
11
965
914
9

Series

Diffusion index
Liabilities of business failures..
Liquid assets, change in t o t a l . .
Loans—See Credit.

9/84
10/84
10/84
6/84
6/84
4/84
11/84
7/84
11/84
11/84
11/84
5/83

40
40
40
17
17
17
17
5
17
17
17
37

68

6/84

17

26

68

6/84

17

24
24
37
11
23

66
66
75
60
66

12/83
12/83
12/83
7/84
12/83

22
22
22
5
21

69

24

67

9/84

243
242
86
248

42
42
25
47

81
81
67
83

10/84
10/84
9/84
10/84

40
40
40
40

88
89
249
87
241
240

25
25
47
25
42
42

67
67
83
67
81
81

9/84
9/84
10/84
9/84
10/84
10/84

40
40
40
40
40
40

27

23

66

6/84

15

24

23

66

6/84

15

61
970
20
10

24
38
12,23
23

67
76
66
66

8/84
8/84
6/84
6/84

23
23
21
21

652
651

57
57

93
93

8/84
8/84

57
57

See notes at end of index.

112



Man-hours—See Employment.
Marginal employment adjustments, CI
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, CI
Money supply
Liquid assets, change in total
Money supply M l , constant dollais
Money supply M l , percent changes
Money supply M2, constant dollais
Money supply M2, percent changes
Ratio, GNP to money supply M l .
Ratio, personal income to money supply M 2
Mortgage debt, net change
Mortgage yields, secondary market.
Municipal bond yields

Current issue
jjfijj

(page numbers)

number

Charts

14
104

Tables

Historical
data
(issue date)

5/83
5/84

Series
description
(*)

34
29

33
31

72
71

2/83

5

78

27

68

6/84

17

38
8

26
12,21

68
64

6/84
4/84

17
15

84

20

64

8/83

14

917

11

60

7/84

5

104
105
85
106
102
107
108
33
118
117

31
31
31
13,31
31
31
31
32
34
34

71
71
71
71
71
71
71
71
73
73

5/84
5/84
5/84
5/84
5/84
9/84
9/84
5/84
10/83
10/83

29
29
29
30
29
30
30
31
35
35

913

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, DI
Nonresidential fixed investment, GPDI
Producers' durable equipment, constant dollars..
Structures, constant dollars
Total, constant dollars
Total, percent of GNP

17

Japan—See International comparisons.

Labor cost per unit of gross domestic product
Labor cost per unit of output, manufacturing
Actual data
Actual data as percent of trend
Later 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

Series title
(See complete titles in "Titles and
Sources of Series," following this index)

68

30

70

9/84

28

62
62
63
26

30
15
30
29

70
70
70
70

11/83
11/83
11/84
9/83

28
28
28
28

930
930c
952
3

10
39
36

60

910
910c

10
39

60

74

1/84
1/84
2/83
8/81
1/84
1/84

5
"5"
7
5

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..

Participation rates, civilian labor force
Both sexes, 16-19 years of age
Females 20 years and over
Males 2 0 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, DI
Contracts and orders, constant dollars
Contracts and orders, current dollars
Population, civilian employment as percent of

27
24
8

23
23
12,21

66
66
64

6/84
6/84
4/84

15
15
15

20

12,23

66

6/84

21

10
548
7
6

23
53
21
21

6/84
6/84
6/84
6/84

21
15
15
15

964
971

37'
38

66
90
64
64
77
75
76

6/84
5/83

15'
37

88
87
86
248

25
25
25
47

67
67
67
83

9/84
9/84
9/84
10/84

40
40
40
40

517
543
721

53
53
58

90
90
94

1/84
11/84
5/84

55
55
58

580

54

91

7/83

56

557
49

54
20

91
63

11/84
9/84

13
14

62
62
358
370
83
82
84
21

30
lb
50
50
20
20
20
16

70
70
88
88
64
64
64
61

11/83
11/83
12/83
12/83
12/83
8/83
8/83
7/84

28
28
52
52
14
14
14
5

453
452
451

51
51
51

89
89
89

2/84
2/84
2/84

9
9
9

55
233
232
238
236
239
237
231
230
235

22
41
41
41
41
41
41
41
41
47

9/84
10/84
10/84
10/84
10/84
10/84
10/84
10/84
10/84
10/84

39
39
39
39
39
39
39
39
39
39

292
293
614

46
46
56

82

11/84
11/84
11/84

48
48
56

61

24
38

67
76

12,23
23
17

23
23
21

66

8/84
8/84
6/84
6/84
2/84

970

20

10

90

80

81
81

81
81

83
92

66

62

21
9

ALPHABETICAL INDEX—SERIES FINDING GUIDE—Continued
Series title
(See complete titles in "Titles and
Sources ol Series," M o w i n g this index)
Price indexes
Consumer prices—See also International comparisons.
All items
Food
Deflators, NIPA
Fixed-weighted, gross domestic business product
Implicit price deflator. GNP
Labor cost, price per unit of, nonfarm business
Producer prices
All commodities
Capital equipment
Crude materials
Finished consumer goods
Industrial commodities
Intermediate materials
Sensitive crude and intermediate materials
Raw industrials, spot market prices
Components
Diffusion index
Spot market index
Sensitive crude and intermediate materials, change
in producer prices
Sensitive materials prices, percent change
Stock prices—See also International comparisons.
5 0 0 common stocks
500 common stocks, Dl
Price to unit labor cost, nonfarm business
Prices, selling
Manufacturing, Dl
Retail trade, Dl
Wholesale trade, Dl
Prime contract awards, Defense Department
Prime rate charged by banks
Producer prices—See Price indexes.
Producers' durable equipment, nonresidential, GPOI
Production—See Gross national product and
Industrial production.
Productivity
Output per hour, nonfarm business sector
Output per hour, private business sector
Profitability, CI
Profits
Corporate profits after taxes
Constant dollars
Current dollars..
With IVA and CCAdj, constant dollars
With IVA and CCAdj, current dollars
Corporate profits, total
With IVA and CCAdj
With IVA and CCAdj, percent of national income..
Manufacturing and trade, Dl
Manufacturing, Dl
Per dollar of sales, manufacturing
Profitability, CI
Ratio, profits to corporate domestic income
Ratio, profits with IVA and CCAdj to corporate
domestic income
Proprietors' income with IVA and CCAdj
Proprietors' income with IVA and CCAdj, percent of
national income

Raw industrials, spot market prices
Components
Diffusion index
Spot market index
Rental income of persons with CCAdj
Rental income of persons wiui CCAdj, percent
of national income
Reserves, free
Residential fixed investment, constant dollars, GPDI..

• The number shown is the page of the




( P W <mmb«rs)

number

Charts

Tables

Historical
data
(issue date)

Series title
(See complete titles in "Titles and
Sources ol Series," M o w i n g this index)

Series
description

(*)

Current issue
Series
number

numbers)
Charts

Tables

Historical
data
(issue date)

Series
description

O

S
320
322

49
49

84,95
84

4/84
4/84

49
49

311
310
26

48
48
29

84
84
70

9/84
9/84
9/83

49
38
28

330
333
331
334
335
332
98

48
48
48
48
48
48
28

85
86
85
86
85
86
69

3/84
3/84
3/84
3/84
3/84
3/84
3/84

50
51
50
51
51
50
51

967
23

37'
28

79
75
69

6/83
6/83

25'
25

98
99

28
13.28

69
69

3/84
3/84

51
25

19
968
26

13,28
37
29

69
75
70

1/84
6/83
9/83

25
25
28

976
978
977
525
109

38
38
38
53
35

76
76
76
90
73

5/83
5/83
5/83
11/84
7/83

37
37
37
55
35

88

25

67

9/84

40

358
370
916

50
50
11

88
88
60

12/83
12/83
7/84

52
52
5

18
16
80
79

28
28
29
29

69
69
69
69

9/84
9/84
9/84
9/84

26
26
26
26

286
287
972
960
15
916
22

45
47
38
37
29
11
29

82
83
76
75
70
60
69

11/84
11/84
5/83
12/83
5/83
7/84
9/84

26
26
37
37
27
5
26

81
282

29
45

70
82

9/84
10/84

26
47

283

47

83

10/84

47

8/81

4

Quit rate, manufacturing..

Residential structures—See Housing.
Retail sales, constant dollars
Retail sales, current dollars

Current issue

Series

'967
23
284

37'
28
45

79
75
69
82

6/83
6/83
10/84

47
33
25
47

83
72
67
83

11/84
6/83
9/84
10/84

47
35
40
40

59
54

22
22

65
65

5/84
5/84

Unemployment
Duration of unemployment, average
Help-wanted advertising, ratio to unemployment..
Initial claims for unemployment insurance
Initial claims 1or 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
Mates 2 0 years and over
Total unemployed.
Quit rate, manufacturing
Unemployment rates
15 weeks and over
Insured unemployment
Total
Unfilled orders, manufacturers'
Defense products
Durable goods industries
Durable goods industries, change...
United Kingdom—See International comparisons.

20
20

Handbook of CfcHcal Micitors

Velocity of money
GNP to money supply M l , ratio
Personal income to money supply M2, ratio
Vendor performance, slower deliveries

213

40

80

10/84

38

69
57
56
973
77
59
54

24
14,22
22
38
15,27
22
22

67
65
65
76
68
65
65

9/84
11/84
11/84
5/83
11/84
5/84
5/84

17
17
17
37
17
20
20

295
298
290
292
293

46
46
46
46
46

82
83
82
82
83

11/84
11/84
11/84
11/84
11/84

26
48
48
48
48

98
99
588

28
13,28
54

69
69
91

3/84
3/84
6/84

51
25
17

967
23

37'
28

79
75
69

6/83
6/83

25'
25

19
968
78

13,28
37
27

69
75
68

1/84
6/83
6/84

25
25
17

38

26

68

6/84

17

114
115

Treasury bill rate.
Treasury bond yields...

25
25
47

285
93
89
249

Salaries—See Compensation.
Sales
Final sales, constant dollars
Machinery and equipment sales and business
construction expenditures
Manufacturing and trade sales, constant dollars
Manufacturing and trade sales, current dollars
Manufacturing and trade sales, Dl
Ratio, inventories to sales, manufacturing and trade
Retail sales, constant dollars
Retail sales, current dollars
Saving
Business saving
Government surplus or deficit
Gross saving, private and government
Personal saving
Personal saving rate
Selling prices—See Prices, selling
Sensitive crude and intermediate materials, change
in producer prices
Sensitive materials prices, percent change
Shipments of defense products
Spot market prices, raw industrials
Components
Diffusion index
Spot market index
State and local government—See Government.
Stock prices—See also International comparisons.
500 common stocks
500 common stocks, Dl
Stocks of materials and supplies on hand and on order..
Stocks of materials and supplies on hand and on
order, change
Surplus—See Government

34
34

72
73

8/83
8/83

35
35

91
60
5
962
3

15,18
16
12,16
36

62
61
61
74

2/84
2/84
5/83
5/83
8/81

9
9
8
8
7

446
445
447
444
37
4

51
51
51
51
18,51

89
89
89
89
62,89

2/84
2/84
2/84
2/84
2/84
8/81

9
9
9
9
9

44
45
43

18
18
18

62
62
62

2/84
4/84
2/84

9
8
9

561
96
25

54
21
21

91
64
64

6/84
6/84
6/84

15
15
15

107
108
32

31
31
12,21

71
71
64

9/84
9/84
5/83

30
30
17

1

12,16

5

36

61
77
74

7/84

961

7/84

"5

W
Wages and salaries—See Compensation.
West Germany—See International comparisons.
Wholesale (producer) prices—See Price indexes.
Workweek of manufacturing production workers
Average workweek
Components
Diffusion index

( 1 9 8 4 ) on which the series description appears.

113

TITLES AND SOURCES OFSERIES-Continued
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)
10. Contracts and orders for plant and equipment in current
dollars (M).—Source 2 and McGraw-Hill Information
Systems Company; seasonal adjustment by Bureau of
the Census and Bureau of Economic Analysis (23,66)
11. Newly approved capital appropriations, 1,000
manufacturing corporations (Q).—The Conference
Board
(24,66)
12. Index of net business formation (M).—Source 1;
seasonal adjustment by Bureau of Economic Analysis
and National Bureau of Economic Research,
Inc.
(12,23,65)

33. Net change in mortgage debt held by financial
institutions and life insurance companies (M).—
American Council of Life Insurance; Federal National
Mortgage Association; U.S. Department of Housing and
Urban Development, Government National Mortgage
Association; National Association of Mutual Savings
Banks; U.S. Savings and Loan League; and source 4;
seasonal 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)

Following the source for each series is an indication of the
pages on which that series appears. The "Series Finding
Guide" also lists chart and table page numbers for each
series.

13. Number of new business incorporations (M).—Dun &
Bradstreet, Inc.; seasonal adjustment by Bureau of
Economic Analysis and National Bureau of Economic
Research, Inc.
(23,65)

37. Number of persons unemployed, labor force survey
(M).—Sources 2 and 3
(18,51,62,89)

I-A. Composite Indexes

14. Current liabilities of business failures (M).—Dun &
Bradstreet, Inc.
(33,72)

910. Composite index of twelve leading indicators (includes
series 1, 5, 8, 12, 19, 20, 29, 32, 36, 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)

39. Percent of consumer installment loans delinquent 30
days and over (EOM).—American Bankers
Association
(33,72)

913. Composite index of marginal employment adjustments
(includes series 1, 2, 3, 5) (M).—Source 1
914. Composite index of capital investment commitments
(includes series 12, 20, 29) (M).-Source 1 (11,60)

16. Corporate profits after taxes in current dollars (Q).—
Source 1
(28,69)

915. Composite index of inventory investment and
purchasing (includes series 8, 32, 36, 99) (M).-Source

18. Corporate profits after taxes in 1972 dollars ( Q ) . Source 1
(28,69)

1

(11,60)

38. Change in stocks of materials and supplies on hand and
on order, manufacturing (M).—Source 2
(26,68)

40. Number of employees in nonagricultural goodsproducing industries—mining, manufacturing, and
construction (M).—Source 3
(17,62)
41. Number of employees on nonagricultural payrolls,
establishment survey (M).—Source 3
(14,17,62)
42. Number of persons engaged in nonagricultural activities,
labor force survey (M).—Sources 2 and 3
(17,62)
43. Unemployment rate, total (M).-Sources 2 and 3(18,62)

19. Index of stock prices, 500 common stocks (M).—
Standard & Poor's Corporation
(13,28,59,69,96)

44. Unemployment rate, persons unemployed 15 weeks and
over (M).—Sources 2 and 3
(18,62)

917. Composite index of money and financial flows (includes
series 104, 106, 111) (M).-Source 1
(11,60)

20. Contracts and orders for plant and equipment in 1972
dollars (M).-Sources 1, 2, 3, and McGraw-Hill
Information Systems Company
(12,23,66)

920. Composite index of four roughly coincident indicators
(includes series 41, 47, 51, 57) (M).-Source
1
(10,39,60)

45. Average weekly insured unemployment rate, State
programs (M).-U.S. Department of Labor, Employment
and Training Administration
(18,62)

21. Average weekly overtime hours of production workers,
manufacturing (M).—Source 3
(16,61)

46. Index of help-wanted advertising in newspapers (M).—
The Conference Board
(16, 61)

930. Composite index 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. Index of industrial production, total (M).—Source
4
(14,20,39,58,63,78,94)

23. Index of spot market prices, raw industrial materials

48. Employee-hours in nonagricultural establishments
(M).—Source 3
(17,39,61)
49. Value of goods output in 1972 dollars (Q).—Source
1
(20,63)

916. Composite index of profitability (includes series 19,26,
80) (M).—Source 1
(11,60)

940. Ratio, coincident composite index (series 920) to lagging composite index (series 930) (M).—Source
1
(11,60)

1-B. Cyclical Indicators
1. Average workweek of production workers,
manufacturing (M).-Source 3
(12,16,61,77)
2. Accession rate, manufacturing (M).—Source 3
3. Layoff rate, manufacturing (M).—Source 3
4. Quit rate, manufacturing (M).—Source 3
5. Average weekly initial claims for
insurance, State programs (M).—U.S.
Labor, Employment and Training
seasonal adjustment by Bureau
Analysis

unemployment
Department of
Administration;
of Economic
(12,16,61)

6. Value of manufacturers' new orders, durable goods
industries, in current dollars (M).—Source 2(21,64,77)
7. Value of manufacturers' new orders, durable goods
industries, in 1972 dollars (M).—Sources 1, 2, and
3
(21,64)
8. Value of manufacturers' new orders for consumer goods
and materials in 1972 dollars (M).—Sources 1, 2, and
3
(12,21,64)
9. Construction contracts awarded for commercial and
industrial buildings, floor space (M).—McGraw-Hill
Information Systems Company; seasonal adjustment by

114



(M).—Source 3 and Commodity Research Bureau, Inc.
(Used by permission. Beginning with June 1981, this
series may not be reproduced without written permission
from Commodity Research Bureau, Inc.)
(28,69,79)

24. Value of manufacturer's new orders, capital goods
industries, nondefense, in current dollars (M).—Source
2
(23,66)
25. Change in manufacturers' unfilled orders, durable goods
industries (M).-Source 2
(21,64)
26. Ratio, implicit price deflator to unit labor cost, nonfarm
business sector (Q).-Sources 1 and 3
(29,70)
27. Value of manufacturers' new orders, capital goods
industries, nondefense, in 1972 dollars (M).—Sources
1, 2, and 3
(23,66)
28. New private housing units started, total (M).—Source
2
(25,67)
29. Index of new private housing units authorized by local
building permits (M).-Source 2
(13,25,67)
30. Gross private domestic investment, change in business
inventories, all industries, in 1972 dollars (Q).—Source
1
(26,42,68,81)
31. Change in book value of manufacturing and trade
inventories, total (M).—Sources 1 and 2
(26,68)
32. Vendor performance, percent of companies receiving
slower deliveries (M).-Purchasing Management
Association of Chicago
(12,21,64)

50. Gross national product in 1972 dollars (Q).—Source
1
(19,39,40,63,80)
51. Personal income, less transfer payments, in 1972 dollars (M).—Source 1
(14,19,39,63)
52. Personal income, total, in 1972 dollars (M).—Source
1 .
(19,63)
53. Wage and salary income in mining, manufacturing, and
construction in 1972 dollars (M).—Sources 1 and
3
(19,63)
54. Sales of retail stores in current dollars (M).—Source
2
(22,65)
55. Personal consumption expenditures, automobiles (Q).—
Source 1
(22,65)
56. Manufacturing and trade sales in current dollars (M).—
Sources 1 and 2
(22,65)
57. Manufacturing and trade sales in 1972 dollars ( M ) . Sources 1, 2, and 3
(14,22,65)
58. Index of consumer sentiment (Q,M).—University of
Michigan, Survey Research Center
(22,65)
59. Sales of retail stores in 1972 dollars (M).-Sources 1
2, and 3
(22,65)

TITLES AND SOURCES OF SERIES- Continued
60. Ratio, help-wanted advertising in newspapers (series
46) to number of persons unemployed (series 37)
(M).—Sources
Board

1,

2,

3,

and

The

Conference
(16,61)

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)

64. Compensation of employees as a percent of national
income ( Q ) . - S o u r c e 1

(30,47,70,83)

65. Manufacturers' inventories of finished goods, book
value, all manufacturing industries (E0M).—Source
2

(27,68)

66. Consumer instalment credit (EOM).—Source 4

(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
(EOM).—Sources 1 and 2

(27,68)

72. Commercial and industrial loans outstanding in current
dollars ( M ) . - S o u r c e s 1 and 4

(35,73)

73. Index of industrial production, durable manufactures
(M).—Source 4

74. Index

of

industrial

(20,63)

production,

nondurable

manufactures ( M ) . - S o u r c e 4

(20,63)

75. Index of industrial production, consumer goods (M).—
Source 4

(22,65)

76. Index of industrial production, business equipment
(M).—Source 4

(24,67)

77. Ratio, constant-dollar inventories (series 70) to sales
(series 57), manufacturing and trade, total
(M).—
Sources 1, 2, and 3

(15,27,68)

78. Stocks of materials and supplies on hand and on order,
manufacturing (EOM).-Source 2
(27,68)
79. Corporate profits after taxes with inventory valuation
and capital consumption adjustments in current dollars
(Q).—Source 1

(29,69)

80. Corporate profits after taxes with inventory valuation
and capital consumption adjustments in 1972 dollars
(Q).—Source 1

(29,69)

81. Ratio of profits (after taxes) with inventory valuation
and capital consumption adjustments to total corporate
domestic income (Q).—Source 1
(29,70)
82. Rate of capacity utilization, manufacturing (Q).—Source
4

(20,64)

83. Rate of capacity utilization, manufacturing (EOQ).—
Source 1

(20,64)

84. Rate of capacity utilization, materials (Q).—Source
4
85. Change in money supply M l (M).—Source 4




(20,64)
(31,71)

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. Diffusion index of twelve leading indicator components

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)

(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

90. Ratio, civilian employment to total population of
working age (M).—Sources 1, 2, and 3
(17, 62)

960. Diffusion index of net profits, manufacturing—about

91. Average (mean) duration of unemployment in weeks
(M).—Sources 2 and 3
(15,18,62)

(M).—Source 1

(36,74)

600 companies ( Q ) . - D u n & Bradstreet, Inc. (Used by
permission. This series may not be reproduced without
written permission from the source.)
(35,75)

93. Free reserves (member banks excess reserves minus
borrowings) (M).-Source 4
(33,72)

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. Diffusion index of initial claims for unemployment
insurance, State programs—51 areas (M).-Source 1

95. Ratio, consumer installment credit to personal income
(M).—Sources 1 and 4
(15,35,73)

and U.S. Department of Labor, Employment and Training
Administration; seasonal adjustment by Bureau of
Economic Analysis
(36,74)

96. Manufacturers' unfilled orders, durable goods industries

963. Diffusion index of number of employees on private
nonagricultural payrolls—172-186 industries (M).—
Source 3
(36,74)

(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)

101. Commercial and industrial loans outstanding in 1972
dollars ( M ) . - S o u r c e s 1, 3, and 4

(15,35,73)

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)
105. Money supply Ml in 1972 dolars (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 Ml
(Q).—Sources 1 and 4
(31,71)
108. Ratio, personal income to money supply M2 ( M ) . Sources 1 and 4
(31,71)
109. Average prime rate charged by banks (M).—Source
4
(35,73)
110. Total funds raised by private nonfinancial borrowers in
credit markets (Q).-Source 4
(32,72)
111. Change in credit outstanding (business and consumer
borrowing) ( M ) . — S o u r c e s 1, 4, and Federal Home
Loan Bank Board
(13,32,72)

112. Net change in business loans (M).—Sources 1 and 4
(32,72)

113. Not change in consumer installment credit (M).—Source
4
(32,72)
114. Discount rate on new issues of 91-day Treasury bills
(M).—Source 4
(34,72)
115. Yield on long-term Treasury bonds (M).—U.S.
(34,73)

Department of the Treasury

116. Yield on new issues of high-grade corporate bonds
(M).—Citibank

Treasury

and

U.S.

Department

of

the

(34,73)

117. Yield on municipal bonds, 20-bond average (M).—The
Bond Buyer

(34,73)

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)

966. Diffusion index of industrial production—24 industries
(M).—Sources 1 and 4
(37,75,78)
967. Diffusion index of spot market prices, raw industrials—
13 industrial materials (M).—Sources 1, 3, and
Commodity Research Bureau, Inc.

(35,75,79)

968. Diffusion index of stock prices, 500 common stocks—
4 6 - 8 2 industries (M).—Standard 8. Poor's Corporation
(37,75)

970. Diffusion index of business expenditures for new plant
and equipment, total—21 industries (Q).—Source
1
(38,76)
971. Diffusion index of new orders, manufacturing—about
600 businessmen reporting (Q).—Dun & Bradstreet, Inc.
(Used by permission. This series may not be reproduced
without written permission from the source.) (38,76)

972. Diffusion index of net profits, manufacturing and
trade—about 1,400 businessmen reporting (Q).—Dun S
Bradstreet, Inc. (Used by permission. This series may
not be reproduced without written permission from the

source.)

(38,76)

973. Diffusion index of net sales, manufacturing and tradeabout 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)

118. Secondary market yields on FHA mortgages (M).—U.S.

976. Diffusion index of selling prices, manufacturing—about
600 businessmen reporting (Q).—Dun & Bradstreet, Inc.

Department of Housing and Urban Development, Federal
Housing Administration
(34,73)

(Used by permission. This series may not be reproduced
without written permission from the source.) (38,76)

115

TITLES AND SOURCES OF SERIES- Continued
977. Diffusion index of selling prices, wholesale trade—about
400 businessmen reporting (Q).—Dun & Bradstreet, Inc.
(Used by permission. This series may not be reproduced
without written permission from the source.) (38,76)
978. Diffusion index of selling prices, retail trade—about 400
businessmen reporting (Q).—Dun & Bradstreet, Inc.
(Used by permission. This series may not be reproduced
without written permission from the source.) (38,76)

ll-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)

ll-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 industriesaverage (mean) first year changes (Q).—Source
3
(50,88)

237. Personal consumption expenditures, services, in current
dollars (Q).-Source 1
(41,81)

283. Proprietors' income with inventory valuation and capital
consumption adjustments as a percent of national
income (Q).-Source 1
(47,83)

349. Negotiated wage and benefit decisions, all industriesaverage (mean) changes over life of contract (Q).—
Source 3
(50,88)

238. Personal consumption expenditures, nondurable goods,
in 1972 dollars (Q).-Source 1
(41,81)

284. Rental income of persons with capital consumption
adjustment (Q).-Source 1
(45,82)

239. Personal consumption expenditures, services, in 1972
dollars (Q).-Source 1
(41,81)

285. Rental income of persons with capital consumption
adjustment as a percent of national income (Q).—
Source 1
(47,83)

230. Personal consumption expenditures, total, in current
dollars (Q).-Source 1
(41,80)
231. Personal consumption expenditures, total, in 1972 dollars (Q).—Source 1
(41,80)
232. Personal consumption expenditures, durable goods, in
current dollars (Q).-Source 1
(41,80)
233. Personal consumption expenditures, durable goods, in
1972 dollars (Q).-Source 1
(41,80)
235. Personal consumption expenditures, total, as a percent
of gross national product (Q).—Source 1
(47,83)
236. Personal consumption expenditures, nondurable goods,
in current dollars (Q).—Source 1
(41,81)

240. Gross private domestic investment, total, in current dollars (Q).—Source 1
(42,81)
241. Gross private domestic investment, total, in 1972 dollars (Q).—Source 1
(42,81)
242. Gross private domestic fixed investment, total, in
current dollars (Q).-Source 1
(42,81)
243. Gross private domestic fixed investment, total, in 1972
dollars (Q).—Source 1
(42,81)
245. Gross private domestic investment, change in business
inventories, all industries, in current dollars (Q).—
Source 1
(42,81)

116



(45,82)

286. Corporate profits with inventory valuation and capital
consumption adjustments (Q).—Source 1
(47,82)
287. Corporate profits with inventory valuation and capital
consumption adjustments as a percent of national
income (Q).-Source 1
(47,83)

345. Index of average hourly compensation, all employees,
nonfarm business sector (Q).—Source 3
(49,87)

358. Index of output per hour, ail persons, nonfarm business
sector (Q).—Source 3
(49,88)
370. Index of output per hour, all persons, private business
sector (Q).—Source 3
(49,88)

ll-C. Labor Force, Employment, and
Unemployment
37. Number of persons unemployed, labor force survey
(M).—Sources 2 and 3
(18,51,62,89)

(45,82)

441. Total civilian labor force, labor force survey (M).—
Sources 2 and 3
(51,89)

289. Net interest as a percent of national income (Q).—
Source 1
(47,83)

442. Total civilian employment, labor force survey (M).—
Sources 2 and 3
(51,89)

290. Gross saving—private saving plus government surplus or
deficit (Q).—Source 1
(46,82)

444. Number unemployed, males 20 years and over, labor
force survey (M).—Sources 2 and 3
(51,89)

288. Net interest (Q).-Source 1

U. S. G O V E R N M E N T

PRINTING O F F I C E : 1984

461-082/308

TITLES AND SOURCES OF SERIES- Continued
445. Number unemployed, females 20 years and over, labor
force survey (M).—Sources 2 and 3
(51,89)

565. National defense purchases as a percent of gross
national product (Q).—Source 1
(55,91)

47. United States, index of industrial production, total
(M).—Source 4
(14,20,39,58,63,78,94)

446. Number unemployed, both sexes 16-19 years of age,
labor force survey (M).—Sources 2 and 3
(51,89)

570. Employment in defense products industries ( M ) . —
Source 3; seasonal adjustment by Bureau of Economic
Analysis
(55,91)

320. United States, index of consumer prices, all items
(M).—Source 3
(48,59,84,95)

447. Number unemployed, full-time workers, labor force
survey ( M ) . - S o u r c e s 2 and 3
(51,89)
448. Number employed, part-time workers for economic
reasons, labor force survey (M).—Sources 2 and
3
(51,89)
451. Civilian labor force participation rate, males 20 years
and over ( M ) . - S o u r c e s 2 and 3
(51,89)

577. Defense Department personnel, military, active duty
(EOM).—U.S. Department of Defense, OSD, Comptroller,
Washington Headquarters Services
(55,91)
578. Defense Department personnel, civilian, direct hire
employment (EOM).—U.S. Department of Defense, OSD,
Comptroller, Washington Headquarters Services(55,91)

453. Civilian labor force participation rate, both sexes 16-19
years of age (M).—Sources 2 and 3
(51,89)

580. Defense Department net outlays, military functions and
military assistance ( M ) . - U . S . Department of Defense,
OSD, C o m p t r o l l e r , D i r e c t o r a t e f o r Program and
Financial Control; seasonal adjustment by Bureau of
Economic Analysis
(54,91)

ll-D. Government Activities

588. Value of manufacturers' shipments, defense products
(M).—Source 2
(54,91)

452. Civilian labor force participation rate, females 20 years
and over ( M ) . - S o u r c e s 2 and 3
(51,89)

721. Organization for Economic Cooperation and
Development, European countries, index of industrial
production (M).—Organization for Economic Cooperation and Development (Paris)
(58,94)
722. United Kingdom, index of industrial production ( M ) . Central Statistical Office (London)
(58,94)
723. Canada, index of industrial production (M).—Statistics
Canada (Ottawa)
(58,94)
725. West Germany, index of industrial production ( M ) . —
Statistisches Bundesamt (Wiesbaden)
(58,94)
726. France, index of industrial production ( M ) . — I n s t i t u t
National de la Statistique et des Etudes Economiques
(Paris)
(58,94)
727. Italy, index of industrial production
Centrals di Statistica (Rome)

(M).—Istituto
(58,94)

500. Federal Government surplus or deficit; national income
and product accounts (Q).—Source 1
(52,90)

ll-E. U.S. International Transactions

501. Federal Government receipts; national income and product accounts ( Q ) . - S o u r c e 1
(52,90)

602. Exports, excluding military aid shipments, total ( M ) . —
Source 2
(56,92)

502. Federal Government expenditures; national income and
product accounts (Q).—Source 1
(52,90)

604. Exports of domestic agricuttual products (M).—Source 2;
s e a s o n a l a d j u s t m e n t by B u r e a u of E c o n o m i c
Analysis
(56,92)

732. United Kingdom, index of consumer prices ( M ) . —
Department of Employment ( L o n d o n ) ; percent changes
seasonally adjusted by Bureau of Economic Analysis
(59,95)

606. Exports of nonelectrical machinery (M).—Source 2;
s e a s o n a l a d j u s t m e n t by B u r e a u of E c o n o m i c
Analysis
(56,92)

733. Canada, index of consumer prices (M).—Statistics
Canada (Ottawa); percent changes seasonally adjusted
by Bureau of Economic Analysis
(59,96)

612. General imports, total ( M ) . - S o u r c e 2

735. West Germany, index of consumer prices ( M ) . —
Statistisches Bundesamt (Wiesbaden); percent changes
seasonally adjusted by Bureau of Economic Analysis
(59.95)

510. State and local government surplus or deficit; national
income and product accounts (Q).—Source 1 (52,90)
511. State and local government receipts; national income
and product accounts (Q).—Source 1
(52,90)
512. State and local government expenditures; national
income and product accounts (Q).—Source 1 (52,90)

517. Defense Department gross obligations incurred ( M ) . U.S. D e p a r t m e n t of Defense, 0SD, C o m p t r o l l e r ,
Directorate for Program and Financial Control; seasonal
adjustment by Bureau of Economic Analysis ( 5 3 , 9 0 )
525. Defense Department military prime contract awards for
work performed in the United States (M).—U.S.
Department of Defense, OSD, Comptroller, Washington
Headquarters Services; seasonal adjustment by Bureau
of Economic Analysis
(53,90)
5 4 3 . Defense D e p a r t m e n t gross u n p a i d
obligations
outstanding ( E O M ) . - U . S . Department of Defense, OSD,
Comptroller, Directorate for Program and Financial
Control; seasonal adjustment by Bureau of Economic
Analysis
(53,90)

(56,92)

614. Imports of petroleum and petroleum products ( M ) . —
Source 2; seasonal adjustment by Bureau of Economic
Analysis
(56,92)
616. Imports of automobiles and parts (M).—Source 2;
s e a s o n a l a d j u s t m e n t by B u r e a u of E c o n o m i c
Analysis
(56,92)
618. Merchandise exports, adjusted, excluding military grants
(Q).—Source 1
(57,93)
620. Merchandise imports,
(Q).—Source 1

adjusted,

excluding

military
(57,93)

622. Balance on merchandise trade (Q).—Source 1 (57,93)
651. Income
1

on

U.S.

investments

abroad

(Q).—Source
(57,93)

652. Income on foreign investments in the United States
(Q).—Source 1
(57,93)

728. Japan, index of industrial production ( M ) . — M i n i s t r y of
International Trade and Industry (Tokyo)
(58,94)

736. France, index of consumer prices ( M ) . — I n s t i t u t
National de la Statistique et des Etudes Economiques
(Paris); percent changes seasonally adjusted by Bureau
of Economic Analysis
(59,95)
737. Italy, index of consuner prices (M).—Istituto Centrale di
Statistica (Rome); percent changes seasonally adjusted by
Bureau of Economic Analysis
(59,96)
738. Japan, index of consumer prices (M).—Office of the
Prime Minister (Tokyo); percent changes seasonally
adjusted by Bureau of Economic Analysis
(59,95)
742. United Kingdom, index of stock prices
Statistical Office (London)

(M).—Central
(59,96)

667. Balance on goods and services (Q).—Source 1(57,93)

743. Canada, index of stock prices (M).—Statistics Canada
(Ottawa)
(59,96)

557. Output of defense and space equipment (M).— Source
4
(54,91)

668. Exports of goods and services, excluding transfers under
U.S. military grants ( Q ) . - S o u r c e 1
(57,93)

745. West Germany, index of stock prices (M).—Statistisches
Bundesamt (Wiesbaden)
(59,96)

559. Value of manufacturers' inventories, defense products
(EOM).—Source 2
(54,91)

669. Imports of goods and services, total
1

561. Value of manufacturers' unfilled orders, defense products (EOM).—Source 2
(54,91)

746. France, index of stock prices ( M ) . — I n s t i t u t National de
la Statistique et des Etudes Economiques (Paris)
(59.96)

ll-F. International Comparisons

548. Value of manufacturers' new orders, defense products
( M ) . — Source 2
(53,90)

564. Federal Government purchases of goods and services for
national defense (Q).—Source 1
(55,91)




(Q).—Source
(57,93)

19. United States, index of stock prices, 500 common stocks
(M).—Standard & Poor's Corporation (13,28,59,69,96)

747. Italy, index of stock prices
(Rome)

( M ) . — B a n c a d' Italia
(59,96)

748. Japan, index of stock prices ( M ) . — B a n k of Japan
(Tokyo)
(59,96)

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