Full text of Business Conditions Digest : October 1983
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U.S. DEPARTMENT OF COMMERCE Malcolm Baldrige, Secretary BUREAU OF ECONOMIC ANALYSIS George Jaszi, Director Allan H. Young, Deputy Director Charles A. Waite, Associate Director for National Analysis and Projections Feliks Tamm, Editor This report is prepared in the Statistical Indicators Division of the Bureau of Economic Analysis. Technical staff and their responsibilities for the publication are— Barry A. Beckman—Technical supervision and review Brian D. Kajutti—Composite indexes Betty F. Tunstall—Data collection and compilation (Phone: 202-523-0541) The cooperation of government and private agencies that provide data is gratefully acknowledged. Agencies furnishing data are indicated in the list of series titles and sources at the back of this report. This publication is prepared under the general guidance of a technical committee consisting of the following persons: Ronald E. Kutscher, Acting Chairman, Bureau of Labor Statistics, U.S. Department of Labor John H. Auten, U.S. Department of the Treasury Norman Frumkin, Office of Management and Budget Charles A. Waite, Bureau of Economic Analysis, U.S. Department of Commerce BUSINESS CONDITIONS DIGEST (BCD) provides a monthly look at many of the economic time series found most useful by business analysts and forecasters. The original BCD, which began publication in 1961 under the title Business Cycle Developments, emphasized the cyclical indicators approach to the analysis of business conditions and prospects. The report's contents were based largely on the list of leading, roughly coincident and lagging indicators maintained by the National Bureau of Economic Research, Inc. In 1968, BCD was expanded to increase its usefulness to analysts using other approaches to business conditions analysis. Principal additions to the report were series from the national income and product accounts and series based on surveys of businessmen's and consumers' anticipations and intentions. The composite indexes were added at that time, and the report's present title was adopted. The dominant feature of the current BCD is the cyclical indicators section, in which each business cycle indicator is assigned a three-way timing classification according to its behavior at peaks, at troughs, and at all turns. This section is supplemented by a section containing other important economic measures. The method of presentation is explained in the introductory text which begins on page 1. Annual subscription price: $55.00 domestic, $68.75 foreign. Single copy price: $5.50 domestic, $6.90 foreign. Foreign airmail rates are available on request. Address correspondence Most of the data contained in this report also are published by their source agencies. A series finding guide and a complete list of series titles and sources can be found at the back of the report. Cyclical Indicators are economic time series which have been singled out as leaders, coinciders, or laggers based on their general conformity to cyclical movements in aggregate economic activity. In this report, cyclical indicators are classified both by economic process and by their average timing at business cycle peaks, at business cycle troughs, and at peaks and troughs combined. These indicators have been selected primarily on the basis of their cyclical behavior, but they also have proven useful in forecasting, measuring, and interpreting short-term fluctuations in aggregate economic activity. Other Economic Measures provide additional information for the evaluation of current business conditions and prospects. They include selected components of the national income and product accounts; measures of prices, wages, and productivity; measures of the labor force, employment, and unemployment; economic data on Federal, State, and local government activities; measures of U.S. international transactions; and selected economic comparisons with major foreign countries. concerning subscriptions to Superintendent of Documents, U.S. Government Printing Office, Washington, D.C. 20402, Make checks payable to Superintendent of Documents. BUSINESS CONDITIONS DIGEST New Features and Changes for This Issue iii METHOD OF PRESENTATION Seasonal Adjustments MCD Moving Averages Reference Turning Dates Part I. Cyclical Indicators Part II. Other Important Economic Measures How To Read Charts How To Locate a Series , Summary of Recent Data and Current Changes 1 1 1 1 4 5 5 6 OCTOBER 1 9 8 3 Data Through September Volume 23, Number 10 PART i. CYCLICAL INDICATORS Al A2 A3 A4 COMPOSITE INDEXES AND THEIR COMPONENTS Composite Indexes Leading Index Components Coincident Index Components Lagging Index Components Chart 10 12 14 15 Table 60 — — — Bl B2 B3 B4 B5 B6 B7 CYCLICAL INDICATORS BY ECONOMIC PROCESS Employment and Unemployment Production and Income Consumption, Trade, Orders, and Deliveries Fixed Capital Investment Inventories and Inventory Investment Prices, Costs, and Profits Money and Credit 16 19 21 23 26 28 31 61 63 64 65 68 69 71 Cl C2 C3 DIFFUSION INDEXES AND RATES OF CHANGE Diffusion Indexes Selected Diffusion Index Components Rates of Change 36 — 39 74 77 — The Secretary of Commerce has determined that the publication of this periodical is necessary in the transaction of the public business required by law of this Department. Use of funds for printing this periodical has been approved by the Director of the Office of Management and Budget through April 1, 1985. BCD PART II. OTHER IMPORTANT ECONOMIC MEASURES Al A2 A3 A4 A5 A6 A8 NATIONAL INCOME AND PRODUCT GNP and Personal Income Personal Consumption Expenditures Gross Private Domestic Investment Government Purchases of Goods and Services Foreign Trade National Income and Its Components Saving Shares of GNP and National Income Chart 40 41 42 43 44 45 46 47 Table 80 80 81 81 82 82 82 83 48 49 84 87 51 89 52 53 90 90 56 57 92 93 58 59 59 94 95 96 PRICES, WAGES, AND PRODUCTIVITY Bl Price Movements Wages and Productivity LABOR FORCE, EMPLOYMENT, AND UNEMPLOYMENT Civilian Labor Force and Major Components GOVERNMENT ACTIVITIES Receipts and Expenditures Defense Indicators U.S. INTERNATIONAL TRANSACTIONS Merchandise Trade Goods and Services Movements INTERNATIONAL COMPARISONS Industrial Production Consumer Prices Stock Prices PART 111. APPENDIXES A. MCD and Related Measures of Variability (January 1981 issue) QCD and Related Measures of Variability (January 1981 issue) B. Current Adjustment Factors 97 C. Historical Data for Selected Series 98 D. Descriptions and Sources Of Series (See "Alphabetical Index—Series Finding Guide") E. Business Cycle Expansions and Contractions (July 1983 issue) F. Specific Peak and Trough Dates for Selected Indicators (June 1983 issue) G. Experimental Data and Analyses 105 Alphabetical Index—Series Finding Guide 110 Titles and Sources of Series 114 Readers are invited to submit comments and suggestions concerning this publication. Address them to Feliks Tamm, Chief, Statistical Indicators Division, Bureau of Economic Analysis, U.S. Department of Commerce, Washington, D.C. 20230 NEW FEATURES AND CH1ANGES FOR Th S ISSUE A limited number of changes are made from time to time to incorporate recent findings of economic research, newly available time series, and revisions made by source agencies in concept, composition, comparability, coverage, seasonal adjustment methods, benchmark data, etc. Changes may result in revisions of data, additions or deletions of series, changes in placement of series in relation to other series, changes Changes in this issue are as follows: in composition of indexes, etc. 1. The diffusion indexes based on anticipated business expenditures for new plant and equipment (series 970b and 970c) have been revised for the period 1947 to date. These revisions reflect the application of new seasonal adjustment factors to the value of anticipated expenditures. (See "New Features and Changes for This Issue" in the September 1983 issue of BCD.) Further information concerning these revisions may be obtained from the U.S. Department of Commerce, Bureau of Economic Analysis, Statistical Indicators Division. 2. Appendix C contains historical data for series 48, 50, 117-119, 200, 213, 217, 220, 224, 225, 227, 230-233, 235242, 500-502, and 510-512. 3. Appendix G contains cyclical comparisons for series 1, 8, 30, 50, 910, and 920. The November issue of BUSINESS CONDITIONS DIGEST is scheduled for release on December 5. in 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 con* taining 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-foilow analytical charts and convenient data tables. It is a basic research document for economists, historians, investors, teachers, and students, bringing together in one volume a complete statistical basis for the study of long-term economic trends. A computer tape file of the time series included in the report is available for purchase. COMPUTER PROGRAMS FOR TIME SERIES ANALYSIS The source statements for FORTRAN IV programs used by BEA in its analysis of time series are available on a single computer tape. SEASONAL A D J U S T M E N T PROGRAMS—Two variants of the Census computer program measure and analyze seasonal, trading-day, cyclical, and irregular fluctuations. They are particularly useful in analyzing economic fluctuations that take place within a year. The X-l 1 variant is used for adjusting monthly data and the X-l 1Q for quarterly data. These programs make additive as well as multiplicative adjustments and compute many summary and analytical measures. INDEX PROGRAM—This program computes composite and diffusion indexes and summary measures of the properties of each index. TIME SERIES PROCESSOR—This program, through simple commands, performs a variety of arithmetic, statistical, and manipulative operations on time series data. SURVEY OF CURRENT BUSINESS A monthly report for analyzing current economic developments. This report provides a useful combination of current data for nearly 2,000 statistical series and significant articles analyzing economic developments. These data and analyses include such areas as the national income and product accounts, the balance of payments accounts, plant and equipment expenditures, regional personal income, and the input-output accounts. BUSINESS STATISTICS For further information (including prices and ordering instructions) on any of these items, please write to the Bureau of Economic Analysis, U.S. Department of Commerce, Washington, D.C. 20230. A biennial reference volume containing statistical series reported currently in the Survey of Current Business. This report provides historical data back to 1947 for nearly 2,600 time series. The series are accompanied by concise descriptions as to their composition, methods of compilation, comparability, revisions, and availability. Also listed are the names and addresses of organizations that provide the basic data for the series. IV METHOD OF PRESENTATION This report is organized into two major parts. Part I, Cyclical Indicators, includes about 150 time series which have been found to conform well to broad fluctuations in comprehensive measures of economic activity. Nearly three-fourths of these are individual indicators, the rest are related analytical measures: Composite indexes, diffusion indexes, and rates of change. Part II, Other Important Economic Measures, covers over 140 series which are valuable to business analysts and forecasters but which do not conform well enough to business cycles to qualify as cyclical indicators. (There are a few exceptions: Four series which are included in part I are also shown in part II to complete the systematic presentation of certain sets of data, such as real GNP and unemployment.) The largest section of part II consists of quarterly series from the national income and product accounts; other sections relate to prices, labor force, government and defense-related activities, and international transactions and comparisons. The two parts are further divided into sections (see table of contents), and each of these sections is described briefly in this introduction. Data are shown both in charts and in tables. Most charts begin with 1956, but those for the composite indexes and their components (part I, section A) begin with 1948, and a few charts use a two-panel format which covers only the period since 1971. Except for section F in part II, charts contain shading which indicates periods of recession in general business activity. The tables contain data for only the last few years. The historical data for the various time series are contained in the 1977 Handbook of Cyclical Indicators. In addition to the charts and tables described above, each issue contains a summary table which shows the current behavior of many of the series. Appendixes present seasonal adjustment factors, measures of variability, specific cycle turning dates, cyclical comparison charts, and other information of analytical interest. An index appears at the back of each issue. It should be noted that the series numbers used are for identification purposes only and do not reflect precise relationships or order. However, all series considered as cyclical indicators are numbered in the range 1 to 199. Seasonal Adjustments Adjustments for average seasonal fluctuations are often necessary to bring out the underlying trends of time series. Such adjustments allow for the effects of repetitive intrayear variations resulting primarily from normal differences in weather conditions and from various institutional arrangements. Variations attributable to holidays are usually accounted for by the seasonal adjustment process; however, a separate holiday adjustment is occasionally required for holidays with variable dates, such as Easter. An additional adjustment is sometimes necessary for series which contain considerable variation due to the number of working or trading days in each month. As used in this report, the term "seasonal adjustment" includes trading-day and holiday adjustments where they have been made. Most of the series in this report are presented in seasonally adjusted form and, in most cases, these are the official figures released by the source agencies. However, for the special purposes of this report, a number of series not ordinarily published in seasonally adjusted form are shown here on a seasonally adjusted basis. MCD Moving Averages Month-to-month changes in a series are often dominated by erratic movements. MCD (months for cyclical dominance) is an estimate of the appropriate span over which to observe cyclical movements in a monthly series. (See appendix A.) It is the smallest span of months for which the average change in the cyclical factor is greater than that in the irregular factor. The more erratic a series is, the larger the MCD will be; thus, MCD is 1 for the smoothest series and 6 for the most erratic. MCD moving averages (that is, moving averages of the period equal to MCD) tend to have about the same degree of smoothness for all series. Thus, a 5-term moving average of a series with an MCD of 5 will show its cyclical movements about as clearly as the seasonally adjusted data for a series with an MCD of 1. The charts in this report generally include centered MCD moving averages for those series with an MCD greater than 4. The seasonally adjusted data are also plotted to indicate their variation about the moving averages and to provide observations for the most recent months. Reference Turning Dates The historical business cycle turning dates used in this report are those designated by the National Bureau of Economic Research, Inc. (NBER). They mark the approximate dates when, according to NBER, aggregate economic activity reached its cyclical high or low levels. As a matter of general practice, neither new reference turning dates nor the shading for recessions will be entered on the charts until after both the new reference peak and the new reference trough bounding the shaded area have been designated. The historical reference turning dates are subject to occasional reviews by NBER and may be changed as a result of revisions in important economic time series. The dates shown in this publication for the 1948-70 time period are those determined by a 1974 review. Since then, NBER has designated turning points for recessions in 1973-75, 1980. and 1981-82. Part I. CYCLICAL INDICATORS Business cy les have been defined as sequences of expansion nd contraction in various economic processes that show up as major fluctuations in aggregate economic activity—that is, in comprehensive m jasures of production, employment, income, and ade.,While recurrent and pervasive, business cycles of historical experience have been definitely nonperiodic and have varied greatly in duration ana 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 comprehend ve 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 pased on the results of that study. Section A. Composite Indexes and Their Components AH cyclical indicators have been evaluated according td six major characteristics: Economic significance, statistical adequacy, consistency of timing at business cycle peaks and troughs, conform ty 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 Novembel 1975 issues of BCD.) The resulting scores re ate to cyclical behavior of the series during thp 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 rom many different economic-process groups [and combine those with similar timing behavio, , 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 \ ^ Economic \Process Cycllcal^v Timing N. LEADING ( U INDICATORS (62 series) ROUGHLY COINCIDENT(C) INDICATORS (2 3 series) LAGGING (Lg) INDICATORS (18 series) TIMING UNCLASSIFIED IU) 8 series) II. PRODUCTION AND INCOME (10 series) III. CONSUMPTION, TRADE, ORDERS, AND DELIVERIES (13 series) IV. FIXED CAPITAL INVESTMENT (18 series) V. INVENTORIES AND INVENTORY INVESTMENT (9 series) VI. PRICES, COSTS, AND PROFITS (17 series) VII. MONEY AND CREDIT (26 series) Marginal employment adjustments (6 series) Job vacancies (2 series) Comprehensive employment (1 series) Comprehensive unemployment (3 series) Capacity utilization (2 series) New and unfilled orders and deliveries (6 series) Consumption (2 series) Formation of business enterprises (2 series) Business investment commitments (5 series) Residential construction (3 series) Inventory investment (4 series) Inventories on hand and on order (1 series) Stock prices (1 series) Commodity prices (1 series) Profits and profit margins (7 series) Cash flows (2 series) Money flows (3 series) Real money supply (2 series) Credit flows (4 series) Credit difficulties (2 series) Bank reserves (2 series) Interest rates (1 series) Comprehensive employment (1 series) Comprehensive output and real Income (4 series) Industrial production (4 series) Consumption and trade (4 series) Backlog of investment commitments (1 series) Business Investment expenditures (5 series) EMPLOYMENT AND UNEMPLOYMENT (18 series) Duration of unemployment (2 series) Business investment expenditures (1 series) Comprehensive employment (3 series) Trade (1 series) Velocity of money (2 series) Interest rates (2 series) Inventories on hand and on order (4 series) Business Investment commitments (1 series) Unit labor costs and labor share (4 series) 1 nterest rates (4 series) Outstanding debt (3 series) Commodity prices (1 series) Profit share (1 series) Interest rates (1 series) B. Timing at Business Cycle Troughs \ \ Economic \Process II. PRODUCTION AND INCOME (10 series) IV. III. CONSUMPTION, FIXED TRADE, CAPITAL ORDERS, AND INVESTMENT DELIVERIES (18 series) (13 series) CycllcalV Timing N. EMPLOYMENT AND UNEMPLOYMENT (18 series) Industrial production (1 series) LE:ADING a.) Marginal employment adjustments (3 series) New and unfilled orders and deliveries (5 series) Consumption and trade (4 series) Formation of business enterprises (2 series) Business Investment commitments (4 series) Residential construction (3 series) Marginal employment adjustments (2 series) Comprehensive employment (4 series) Comprehensive output and real income (4 series) Industrial production (3 series) Capacity utilization (2 series) Consumption and trade (3 series) Business Investment commitments (1 series) Unfilled orders (1 series) Business Investment commitments (2 series) Business investment expenditures (6 series) INDICATORS (47 series) ROUGHLY COINCIDENT(C) INDICATORS (23 series) LAGGING {Lg) INDICATORS (40 series) TIMIiMG UNCLASSIFIED (U) (1 series) Marginal employment adjustments (1 series) Job vacancies (2 series) Comprehensive employment (1 series) Comprehensive and duration of unemployment (5 series) V. INVENTORIES AND INVENTORY INVESTMENT (9 series) VI. VII. PRICES, 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 tabor share (4 series) Velocity of money (1 series) Bank reserves (1 series) interest rates (8 series) Outstanding debt (3 series) inventories on hand and on order (5 series) Bank reserves (1 series) independent measurement error and other "noise" in the included series are smoothed out in the index as a whole. The indexes include only monthly series that are acceptable in terms of relatively prompt availability and reasonable accuracy. The main composite indexes are distinguished by their cyclical timing. Thus, there is an index of leading indicators, series which historically reached their cyclical peaks and troughs earlier than the corresponding business cycle turns. There is an index of roughly coincident indicators, consisting of series which historically reached their turning points at about the same time as the general economy, and an index of lagging indicators, which includes series that typically reached their peaks and troughs later than the corresponding business cycle turns. The leading index contains series with long as well as short leads, but each series leads on the average over time and shows a frequency of leads at the individual turns exceeding that attributable to chance, given the historical distribution of cyclical timing. (An analogous statement applies to the components of the lagging index.) Since 1948, leads were generally more frequent and longer at peaks than at troughs of business cycles, while lags were generally more frequent and longer at troughs than at peaks. The adopted system of scoring and classifying the indicators takes into account these well-established differences in timing. Consequently, rough coincidences include short leads (-) and lags ( + ) as well as exact coincidences (0). (For monthly series, the range is from -3 through - h i at peaks and from -1 through + 3 at troughs, where minus denotes leads and plus denotes lags in months.) For purposes of constructing a composite index, each component series is standardized: The monthto-month percent changes in a given series are divided by the long-run average (without regard to sign) of those changes. Thus, the more volatile series are prevented from dominating the index. The coincident index is calculated so that its longterm trend (since 1948) equals the average of the trends of its four components. This trend, which is similar to that of GNP in constant dollars, can be viewed as a linear approximation to the secular movement (at an average growth rate) in aggregate economic activity. The indexes of leading and lagging indicators have been adjusted so that both their trends and their average month-to-month percent changes (without regard to sign) are approximately equal to those of the coincident index. (For a more detailed description of the method of constructing the composite indexes, see the 1977 Handbook of Cyclical Indicators,) In addition to these principal composite indexes, differentiated according to cyclical timing, there are five indexes based on leading indicators which have been grouped by economic process. Taken together, these additional indexes include all 12 component series of the overall leading index, plus a few related series. Also shown in this section is the ratio of the index of roughly coincident indicators to the index of lagging indicators, a series known to have a useful pattern of early cyclical timing. Numbers entered on the charts of the composite indexes show the length, in months, of leads (-) and lags ( + ) at each of the reference turning dates covered. The next set of data consists of series included in the principal composite indexes. These are the 12 components of the leading index, the 4 components of the coincident index, and the 6 components of the lagging index. Following the title of each series, its typical timing is identified by three letter symbols in a small box. The first of these letters refers to the timing of the given indicator at business cycle peaks, the second to its timing at business cycle troughs, and the third to its timing at all turns, i.e., at peaks and troughs combined. "L" denotes a tendency to lead, "C" a tendency to roughly coincide with the business cycle turns (as represented by the NBERdesignated reference dates), and "Lg" a tendency to lag. Since these series have been selected for the consistency of their timing at both peaks and troughs, all components of the leading index are denoted "L,L,L," all components of the coincident index "C,C,C,M 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, Ap il '60, and December '69); crossclassification B on their behavior at five business cycle troughs October '49, May '54, April '58, February '61, and November 7 0 ) . Each tabulation distinguishes slven major economic processes and four types of cyclical timing. The titles in the cells identify subgr ps of the given economic process with the given iming characteristic. The number of series in each such group is given in parentheses following the itle. Complete information on how individual indcators are classified by timing at peaks, trough;,, and all turns, along with selected measures/and scores, is provided in the 1977 Handbook of Cyclical Indicators. Section C. Diffusion Indexes and Rates of Change Many series in this report are aggregates compiled from numerous components. How the individual components of an aggregate move over a given timespan is summarized by a diffusion index which indicates the percentage of components that are rising (with half of the unchanged components considered rising), Cyclical changes in these diffusion indexes tend to lead those of the corresponding aggregates. Since diffusion indexes are highly erratic, they are computed from changes measured over 6- or 9-month (or 3- or 4-quarter) spans, as well as 1-month (or 1-quarter) spans. Longer spans help to highlight the trends underlying the shorter-term fluctuations. Diffusion indexes are shown Jfor the component series included in each of thi three composite indexes and for the component of some of the aggregate series shown in section Diffusio measures can be derived not only from actual da but also from surveys of anticipations or intenti ns. Indexes based on responses of business executives about their plans and expectatio s for several operating variables are presented along with the corresponding indexes based on ictual 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 economii 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 measurfe the prevailing direction or scope of change, while rates of change measure the degree as well as the overall direction. As is the case for diffusion indexes, cyclical movements in the rates of change tend to lead those of the corresponding indexes or aggregates, and thus, they tend to lead at the (business cycle turns as well. Part I I . OTHER IMPORTANT ECONOMIC MEASURES This part is divided into six sections which cover a wide range of quarterly and monthly time series measuring various aspects of economic activity. Some of these series are very comprehensive, pertaining to the U.S. economy as a whole, others have to do with particular sectors or markets, and still others relate to U.S. international transactions or to selected foreign countries. The represented variables include incomes, outputs, and expenditures; prices, earnings, and productivity; labor resources; government receipts, expenditures, and defense-related activities; exports and imports; and selected indicators for a few key foreign countries. Section A. National Income and Product The national income and product accounts, compiled by BEA, summarize both receipts and final expenditures for the personal, business, foreign, and government sectors of the economy. Section Al shows the gross national product, final sales, and personal and disposable personal income. The four major components of the gross national product—personal consumption expenditures, gross private domestic investment, government purchases of goods and services, and net exports of goods and services—are presented in sections A2 through A5. Most of the series in section A are presented in current as welt 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 <ind property supplied by residents of the United States, before deduction of allowances for the consumption of fixed capital goods. It is the most comprehensive measure of aggregate economic output. Final sales is GNP less change in business inventories. Personal income is the income received by persons (individuals, owners of unincorporated businesses, nonprofit institutions, private trust funds, and private noninsured welfare funds) from all sources. It is the sum of wage and salary disbursements, other labor income, proprietors' income, rental income of persons, dividends, personal interest income, and transfer payments, less personal contributions for social insurance. Disposable personal income is the personal income available for spending or saving. It consists of personal income less personal taxes and nontax payments to government. Personal consumption expenditures (A2) is goods and services purchased by individuals, operating expenses of nonprofit institutions, and the value of food, fuel, clothing, rent of dwellings, and financial services received in kind by individuals. Net purchases of used goods are also included. Gross private domestic investment (A3) is fixed Section C. Labor Force, Employment, and capital goods purchased by private business and Unemployment nonprofit institutions and the value of the change This section contains measures of the civilian in the physical volume of inventories held by private business. The former include all private labor force and its major components; Total purchases of dwellings, whether purchased for numbers of employed and unemployed persons. tenant or owner occupancy. Net purchases of used The number of unemployed is subdivided into selected categories defined by sex, age, and class goods are also included. Government purchases of goods and services of worker. Also included are data on participation (A4) is the compensation of government employees rates for a few principal segments of the labor and purchases from business and from abroad. It force. excludes transfer payments, interest paid by Section D. Government Activities government, and subsidies. It includes gross investment by government enterprises but excludes Receipts, expenditures, and their balance (surtheir current outlays. It includes net purchases of plus or deficit) are shown quarterly on two levels: used goods and excludes sales and purchases of (1) Federal Government and (2) State and local land and financial assets. government. Also shown is a selection of series Net exports of goods and services (A5) is exports from the discontinued Defense Indicators, less imports of goods and services. Exports are part These series measure defense activities which of the national production; imports are not, but are influence short-term changes in the national included in the components of GNP and are economy. Included are series relating to therefore deducted. More detail on U.S. obligations, contracts, orders, production, international transactions is provided in section E. shipments, inventories, outlays, and employment. National income (A6) is the incomes that These series are grouped according to the time at originate in the production of goods and services which the activities they measure occur in the attributable to labor and property supplied by defense order-production-delivery process. Series residents of the United States. Thus, it measures measuring activities which usually precede prothe factor costs of the goods and services pro- duction, such as contract awards and new orders, duced. It consists of the compensation of are classified as "advance measures of defense employees, proprietors' income, rental income of activity." Series measuring activities which tend to persons, corporate profits, and net interest. coincide with production, such as employment, and Saving (A7) is the difference between income activities which usually follow production, such as and expenditures during an accounting period. shipments, are classified as "intermediate and final Total gross saving includes personal saving, measures of defense activity." business saving (mainly undistributed corporate profits and capital consumption allowances), and Section E. U.S. International Transactions government surplus or deficit. This group includes monthly series on exports Shares of GNP and national income (A8).—The major expenditure components of GNP (excluding military aid) and general imports, plus a (consumption, investment, etc.) are expressed as few selected components of these aggregates. Also percentages of GNP, and the major income shown are the balances between receipts and components of national income (compensation of expenditures for goods and services, merchandise, employees, corporate profits, etc.) are expressed as and investment income. percentages of national income. Section F. International Comparisons Section 8. Prices, Wages, and Productivity The important data on price movements include the monthly consumer and producer price indexes and their major components. Based largely on these series are the quarterly price indexes from the national income and product accounts, notably the GNP implicit price deflator (with weights reflecting the changing proportions of different expenditure categories in GNP) and the fixedweighted price index for the gross business product. Data on both levels and percent changes are presented for the period since 1971. The group of series on wages and productivity consists of data on average hourly earnings and average hourly compensation (including earnings and other benefits) in current and constant dollars, output per hour of work in the business sector, and rates of change for most of these measures. This section is designed to facilitate a quick review of basic economic conditions in six of the nations with which we have important trade relationships. The U.S. business cycle shading has been omitted from these charts. Data on industrial production, consumer prices, and stock prices for Canada, the United Kingdom, France, West Germany, Japan, and Italy are compared with the corresponding U.S. series. Also included is an industrial production index for the European countries in the Organization for Economic Cooperation and Development (OECD). The industrial production series provide cyclically sensitive output measures for large parts of the economies covered. Changes in consumer price indexes (plotted for the period since 1971) provide important measures of the rates of inflation in the major industrialized countries. Stock prices (also shown beginning in 1971) tend to be significant as leading indicators. HOW TO READ CHARTS Peak (P) of cycle indicates end of expansion and beginning of recession (shaded area) as designated by NBER. Basic Data Trough (T) of cycle indicates end of recession and beginning of expansion as designated by NBER. Arabic number indicates latest month for which data are plotted. ("9" = September) Solid line indicates monthly data. (Data may be actual monthly figures or moving averages.) Dotted line indicates anticipated data. Broken line indicates actual monthly data for series where a moving average is plotted. Roman number indicates latest quarter for which data are plotted. ("IV" = fourth quarter) Solid line with plotting points indicates quarterly data. Parallel lines indicates a break in continuity (data not available, extreme value, etc.). Various scales are used to Diffusion Indexes tOO-i Solid line indicates monthly data over 6- or 9-month spans. Broken line indicates monthly data over 1-month spans. 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. Solid line indicates percent changes over 3- or 6-month spans. highlight the patterns of the individual series. "Scale A " is an arithmetic scale, "scale L-1" is a logarithmic scale with 1 cycle in a given distance, "scale L-2" is a logarithmic scale with two cycles in that distance, etc. Dotted line indicates anticipated quarterly data over various spans. Rates of Change ^XKKkSjf^dn^Y Arabic number indicates latest month used in computing the changes. Broken line indicates percent changes over 1-month spans. Broken line with plotting points indicates percent changes over 1-quarter spans. Solid line with plotting points indicates percent changes over 3-or 4-quarter spans. Roman number indicates latest quarter used in computing the changes. HOW TO LOCATE A SERIES 1. See ALPHABETICAL INDEX-SERIES FINDING-GUIDE at the back of the report where series are arranged alphabetically according to subject matter and key words and phrases of the series titles, o r - 2. See TITLES AND SOURCES OF SERIES at the back of the report where seriesiare listed numerically according to series numbers within ^ach of the report's sections. Table 1. Summary of Recent Data and Current Changes for,Principal Indicators Basic data' Unit of measure 1 Series title and timing classification Percent change Annual average 2dQ 1983 3dQ 1983 July to Aug. 1983 Aug. to Sept. 1983 1st Q to 2dQ 1983 1983 4.7 2.8 -3.4 6.3 2.5 -0.9 3.5 ?dq to 3dQ 1981 1982 1st Q 1983 140.9 146.0 122.4 119.3 136.8 136.3 123.0 110.9 147.8 134.1 115.1 116.6 154.7 137.8 111.2 123.9 159,0 141.3 110.2 128.2 158.2 140.7 109.8 128.1 158.7 140.4 110.8 126.7 160.2 142.7 110.0 129.7 0.3 -0.2 0.9 -1.1 0.9 1.6 -0.7 2.4 93.0 107.7 100.9 97.9 122.7 NA 104.3 97.2 93.7 122.8 NA 106.8 99.5 98.9 129.4 NA 109.2 102.1 104.2 130.8 NA 108.9 103.9 NA NA NA 109.4 102.9 106.0 133.1 NA 108.3 104.7 105.8 132,9 NA 109.0 104.2 NA NA NA -1.0 1.7 -0.2 -0.2 NA 0.6 -0.5 NA NA NA 2.2 2.6 5.4 1.1 -0.3 1.8 NA NA 39.8 2.8 446 38.9 2.3 578 39.5 2.5 488 40.1 2.8 443 40.4 3.1 392 40.2 3.0 380 40.3 3.1 408 40.7 3.3 387 0.2 0.1 -7.4 1.0 0.2 5.1 1.5 0.3 9,2 0.7 0.3 11.5 1 21 5 0.429 119 0.243 86 0.216 83 0.230 87 0.278 99 0.281 100 0.270 97 0.283 - 0 . 0 1 1 -3.0 99 0.013 2.1 0.014 4.8 0.048 13,8 60 46 170.02 97,030 91,156 25,497 165.84 96,125 89,596 23,907 164.58 95,697 88,815 23,088 166.81 96,514 89,452 23,341 168.27 98,162 90,118 23,828 168.08 97,758 90,152 23,724 167.28 98,074 89,735 23,832 169.44 98,655 90,468 23,927 -0.5 0.3 -0.5 0.5 1.3 0.6 0.8 0.4 1.4 0.9 0.7 1.1 0.9 1.7 0.7 2.1 4(1 42 41 40 58.28 57.06 56.40 56.73 57.51 57.39 57.49 57.66 0.10 0.17 0,33 0.78 90 8,273 10,678 11,439 11,222 10,571 10,590 10,699 10,423 7.6 10.4 9.4 9.7 10.1 9.5 9.5 9.3 3.4 3.4 4.6 4.5 4.1 3.6 3.4 3.3 13.7 20.6 IS.6 19.2 20.5 21.7 19.9 20.2 2.1 3.6 3.2 4.0 3.9 3.6 4.2 3.4 -1.0 0. 0.2 8.3 0.3 2.6 0.2 0.1 -1.5 0.2 1.9 0.3 0.4 -6.8 0.2 5.8 0.7 0.7 -0.5 0.4 37 43 45 91 44 1513.8 1485.4 1490.1 1525.1 1554.4 1254.2 1256.1 1265.2 1277.2 1286.3 1285.6 1283.5 1289.9 1080.5 1073.8 1075.5 1086.4 1098.6 1096.8 1096.2 1102.9 0.5 0.6 2. 3 0.9 1.0 1.9 0.7 1.1 50 -0.2 -0.1 52 51 July 1983 Aug. 1983 Sept. 1983 i 1. C Y C L I C A L I N D I C A T O R S A. C o m p o s i t e I n d e x e s 91C. 920. 930. 940 Twelve leading indicators Four roughly coincident indicators Six lagging indicators Ratio, coincident index to lagging index Leading Indicator Subgroups: 913. Marginal employment adjustments 914. Capital investment commitments 915. Inventory investment and purchasing 916 Profitability 517. Money and financial flows L.L.L.... 1967-100 C,C,C.... do LgLgLg.... do do L,L,L... . L,l,L.... L,L,L... L,L,L... LLL L,L,L... do do do do do 2.8 NA 910 920 930 940 913 914 915 916 917 15. C y c l i c a l I n d i c a t o r s b y E c o n o m i c P r o c e s s B l . Employment and Unemployment Miirgin.jl Employment Adjustments: • 1 . Vrerage workweek, prod, workers, mfg 21. IWR. weekly overtime, prod, workers, mfg.3 *5. Avg. weekly initial claims (inverted') Jot Vacancies: 00, Patio, help-wanted advertising to unemployment3 <I6. Kelp-wanted advertising... Comprehensive Employment: 48. Enployee-hours in nonagri. establishments 42. Persons engaged in nonagri. activities * 4 L Employees on nonagri. payrolls 40. Employees in mining, mfg., construction 90. R::tio, civilian employment to total population i>f working age3 Comprehensive Unemployment; 3?, Tolal unemployed (inverted*) 43. Unemployment rate, total (inverted')* 45, Avf. weekly insured unemployment rate (inv.<)3 •91 Avg. duration of unemployment (inverted1) 44, Unemployment rate, 15 weeks and over (inv.1)1 L,l,L... Hours L,CtL... do L,CL... Thousands l,Lg,U.... Ratio L,Lg,U.... 1967 = ib'b" U,C,C... A.r., bil. hrs U,C,C... Thousands C,C,C.... do do L,C,IL. U,lg,U.... Percent L,Lg,U.... L,lg,U.... L,Lg,U.... Le.Lg.Lg.... Lg,Lg,Lg- Thousands Percent do Weeks Percent B2. Production and Income Comprehensive Output and Income: 50. GNF in 1972 dollars 52. Personal income in 1972 dollars •51. Pers. income less transfer pay., 1972 dollars 53. Wagis and salaries in mining, mfg., and construction, 1972 dollars..,. Industral Pi eduction: *47. ndustrial production, total 73. Industrial production, durable mfrs 74. Industrial produetion.-nondurable mfrs 49. Value of goods output, 1972 dollars Capacity Util tation: 83. Capacity utilization rate, mfg., BEAS 82. Capacity utilization rate, mfg., FRB3 84, Capacty utilization rate, materials, FRB3 C,C,C... A.r., bil. dol C,C,C.... do do C,C C... C,C,C... do C,C,C... 1967 = 100 . C,C,C... , do . . C,L,L ....do C,C,C... A r . b i l dol.. . L,C,U.... l,C,U... Percent do do 229.8 216.2 212.5 216.0 220.0 219.1 219.8 221.0 0.3 0.5 1.6 1.9 53 151.0 140.5 164.8 692.6 138.6 124.7 156.2 661.6 138.5 124.2 159.0 656.9 144.5 131.1 165.5 681.8 151.6 139.0 172.2 701*0 149.6 136.8 170.2 151.4 138.6 172.1 153.7 141.7 174.2 1.2 1.3 1.1 1.5 2.2 1.2 4.3 5.6 4.1 3. 8 4.9 6.0 4.0 2.8 47 73 74 49 76 79.4 80.7 70 71.1 70.0 70 70.7 70.1 73 73.8 73.5 NA 77.3 77.4 3 3.1 3. 4 NA 3.5 3.9 83 82 84 B3. C o r s u m p t i o n , Trade, Orders, and Deliveries Orders and Deliveries: 6. New orders, durable goods 7. New orders, durable goods, 1972 dollars *8. New orders, cons, goods and mtls., 1972 dol 25. Change in unfilled orders, durable goods3 96. Mf-s/ unfilled orders, durable goods5 •32. Vendor performance3 @ L,L,U, Bil. dol 89.24 83.68 79.92 86.15 88.23 89.98 75.03 89.SO L.L.L.... do 37.41 37.04 37.61 32.48 34.06 36.42 37.68 37.52 L,L,L... do 29.45 35.29 33.28 31.65 33.38 34.86 35.96 35.06 L,LtL... do -1.80 1.80 -0.15 1.55 2.99 2.59 2.06 0.74 L,Lg,U.... Bil. dol., EOP ... 313.34 291.76 296.41 305.37 310.76 307.96 310.02 310.76 L.L.L... Percent 37 58 45 44 52 52 61 60 Consumption aid Trade: 56. Manufacturing and trade sales...,. *57. Manufacturing and trade sales, 1972 dollars 75. Industrial production, consumer goods 54. Saks of retail stores 59. Sales of retail stores, 1972 dollars 55. Personal consumption expenditures, automobiles 58. Index of consumer sentiment © C,C,C... C,C,C... C.L.C.... C,L,U.... U,L,U.... L,C,C.... L,L,L... Bil. dol do 1967-100 Mil. dol do A.r., bil. dol Q 1966=100 355.99 159.85 147.9 87,298 45,268 69.3 70.7 344.11 152.07 142.6 89,640 44,680 73.9 68.0 344.94 153.46 143.8 92,245 45,553 80.7 75.3 NA 372.43 362.86 NA 162.78 160.04 156.4 150.2 155.0 97,684 98,985 99,521 47,798 47,990 48,429 94.2 91.4 91.5 91.6 93.9 373.57 NA 162.87 NA 156.0 158.2 97,955 99,480 47,482 48,058 2.0 1.7 3.2 -0.53 0.7 9 -0.5 -0.4 -2.5 -1.32 0.2 -1 7.8 6.9 i.§ 1.44 3.0 8 3.6 2.7 5.7 -1.19 1.8 6 6 7 8 25 96 32 0.3 0.1 0.6 -1.6 -2.0 NA NA 1.4 1.6 1.2 NA NA 4.1 1.3 0.4 3 1 0.1 56 57 75 54 59 55 f 90.9 89.9 -3.2 -1.1 5.2 4.3 4.5 5.9 4.9 13 3 21.5 115.5 112.4 115.3 -2.7 2.6 1.7 NA NA NA 58 £14. Fixed C a p i t a l I n v e s t m e n t Formation cf Business Enterprises: *12. Net tiusiniss formation 13. New busiress incorporations Business Investment Commitments: 10. Contracts and orders, plant and equipment *20. Contncts and orders, plant and equipment, 197? dollars 24. New order:;, capital goods indus., nondefense 27. New orders, capital goods industries, nondefen;;e, 1972 dollars , L.L.L.... 1967-100 L L L... Number 118.6 113.2 112.5 114.4 48,435 47 153 4rt 776 50 035 114.4 NA NA NA 2.6 0. NA 12 13 L,l,L... Bil. dol 27.99 24.75 23.79 27.61 •26.55 25.10 26.76 27.80 6.6 3.9 16.1 -3.8 10 L,L,L... 1,1,1.... do do 14.11 24.01 12.39 20.64 12.08 19.91 14.24 23.04 13.59 22.87 12.53 21.58 13.43 23.03 14.81 24.01 7.2 6.7 10.3 4.3 17.9 15.7 -4.6 -0.7 20 24 L,L,L... do 12.38 10.62 10.43 12.28 12.01 11.02 11.82 13.18 7.3 11.5 17.7 -2.2 27 Table 1. Summary of Recent Data and Current Changes for Principal Indicators—Continued Basic data1 Unit of measure Series title and timing classification1 Percent change Annual average July 1982 1st Q 1983 2dQ 1983 3dQ 1983 July 1983 Aug. 1983 Sept. •• 1983 I f Aug. 1983 Aug. to Sept. 1983 1st Q 2dQ 1983 2dQ to 3d Q 1983 I. C Y C L I C A L I N D I C A T O R S — C o n . B4, Fixed Capital I n v e s t m e n t — C o n . Business Investment Commitments—Con.: 9. Construction contracts, commercial and industrial buildings, floor space 11. Newly approved capital appropriations, mfg 97. Backlog of capital appropriations, mfg.5 L,C,U... Mil. sq. ft U,Lg,U.., Bil. dol C,Lg,Lg... Bil. dol., EOP ., Business Investment Expenditures: 61. Business expend., new plant and equipment 69. Machinery and equipment sales and business construction expenditures 76. Industrial production, business equipment 86. Nonresid. fixed investment, total, 1972 dollars C,lg,Lg... A,r., bil.dol 321.49 316.43 293.03 293.46 313.04 C.Lg.Lg... do C,Lg,U... 1967 = 100 C,Lg,C... A.r., bil. dol 348.65 325.76 307.34 316.84 181.1 157.9 144.3 148.3 174.4 166.1 159.9 163.0 Residential Construction Commitments and Investment: 28. New private housing units started, total •29. New building permits, private housing 89. Fixed investment, residential, 1972 dollars L,L,L. Ax, thousands, L,L,L... 1967=100 LtL,L... A.r., bil.dol 77.72 26.38 92.46 57.38 21.28 70.76 59.10 20.18 70.04 60.31 20.96 71,36 65.41 NA NA 61.78 65.26 69.20 5.6 6.0 NA 318.94 321.07 155.4 153.0 154.8 168.7 NA 158. 0.7 1.2 NA 2.3 5.8 -7.3 -13.5 1,087 80.0 44.7 1,061 80.7 37.8 1,694 118.3 45.5 1,683 132.8 52.6 1,788 133.0 56.9 8.5 -9.4 -15.4 -5.4 4.8 1.77 -14.23 •14.83 33.3 -14.2 -34.9 0.83 O.O3 -2.12 -2.41 9.2 1.15 NA NA NA 1,804 143.9 1,909 133.4 1,65 121. 2.0 3.9 1.9 8.5 NA NA 9 11 97 0.1 6.7 61 3.1 2.8 1.9 NA 4.8 3.5 69 76 86 -0.6 12.3 15.6 6.2 0.2 8.2 28 29 89 10.0 10.2 30 B5. Inventories a n d Inventory Investment Inventory Investment: 30. Change in business inventories, 1972 dollars3 *36. Change in inventories on hand and on order, 1972 dollars (smoothed6)3 31. Change in mfg. and trade inventories3 38. Change in materials on hand and on order3 L,L,L... ..do.. L.L.L. do L,L,L... do L,L,L... BiL dol Inventories on Hand and on Order: 71, Mfg. and trade inventories5 70. Mfg. and trade inventories, 1972 dollars5 65. Mfrs.1 inventories of finished goods5 *77. Ratio, constant-dollar inventories to sales, mfg. and trade3 78. Stocks of materials and supplies on hand and on order, mfg.s Lg,Lg,Lg.... Bil. dol., EOP . Lg,Lg,Lg.... do do Lg,Lg,Lg..... 526.15 511.94 503.22 505.52 269.42 261.21 257.57 257.05 89.55 85.07 1.67 1.75 82.41 5.79 3.7 2.23 12.63 75.0 3.40 NA 505.83 512.07 256.93 259.10 81.93 82.49 82.60 1.58 1.59 NA MA NA Lg,Lg,Lg.... Ratio 1.69 1.61 NA L,Lg,Lg.... 8il. dol., EOP . 221.56 196.07 198.57 202.02 6.84 71.3 1.17 NA NA NA 12.42 44.1 0.32 NA NA NA 36 31 38 1.2 0.8 0.1 NA NA NA 0.5 -0.2 -0.6 NA NA NA 71 70 65 0.01 -0.08 NA 77 1.7 1.7 NA 78 204.25 207.64 B6. Prices, Costs, a n d Profits Sensitive Commodity Prices: 98. Change in producer prices, sensitive materials3 23. Spot market prices, raw industrials © *99. Change in sensitive materials prices (smoothed6)3 L,L,L... U,L,L... L,L,L... Percent 1967=100... Percent Stock Prices: *19. Stock prices, 500 common stocks © L,LtL... 1941-43=10.. Profits and Profit Margins: 16. Corporate profits after taxes 18. Corporate profits after taxes, 1972 dollars 79. Corp. profits after taxes with IVA and CCAdj 80 do 1972 dollars 15. Profits (after taxes) per dollar of sales, mfg.3 26. Ratio, price to unit labor cost, nonfarm business.. L,L,I A.r., bil.dol L,L,L... ....do L,C,L. ....do L,C,L. do L,L,L. Cents L.L.L.. 1977 = 100 144.1 72.7 109.5 55.5 4.8 98.1 115.1 55.6 105.6 51.1 3.4 96.2 108.2 51.7 120.3 57.5 3.3 96.3 127.2 60.6 142.2 67.9 4.0 97.6 . L.L.L.... A.r., bil. dol 271.3 133.3 267.3 125.2 278.9 130.3 Cash Flows: 34. Net cash flow, corporate 35. Net cash flow, corporate, 1972 dollars.. Unit Labor Costs and Labor Share: 63. Unit labor cost, private business sector 68. Labor cost per unit of real gross domestic product, nonfin. corporations 62. Labor cost per unit of output, manufacturing a) Actual data *b) Actual data as percent of trend 64. Compensation of employees as percent of national income3 B7. -0.38 242.5 -0.67 2.78 240.7 0.92 1.20 265.2 1.07 1.33 3.6 0.17 -2.26 1.0 -0.14 -1.27 4.6 0.56 -1.51 4.5 -0.51 98 23 99 -2.7 2.9 10.2 1.7 19 NA NA NA NA NA 98.3 17.6 17.2 18.2 18.1 0.7 1.4 NA NA NA NA NA 0.7 16 18 79 80 15 26 310.6 145.9 NA NA 11.4 12.0 NA NA 34 35 1.51 251.7 1.48 0. 263.0 0.97 -0.13 256.0 0.90 128.04 119.71 147.65 162.73 165.51 166.96 162.42 167.|l6 Lg,Lg,Lg.... 1977 = 100... 142.1 153.3 156.9 156.2 156.5 -0.4 0.2 63 Lg,Lg,Lg.... Dollars 1.302 1.397 1.428 1.416 NA -0.8 NA 68 Lg,Lg,Lg.... 1967 = 100... Lg,Lg,Lg.... Percent 209.0 100.2 228.0 101.0 230.8 97.4 227.4 94.2 223.1 90,6 -1.5 -3.2 -1.9 -3.6 62 62 74.6 76.1 76.1 75.3 0.52 0.81 0.95 197.9 789.8 0.69 0.73 0.86 198.5 813.9 1.34 1.85 0.83 209.3 872.3 0.94 0.71 0.86 213.4 885.2 0.36 0.48 NA 215.7 892.1 0.74 0.56 NA 216.2 891.9 0.23 0.50 NA 215.8 892.5 -0.51 -0.06 NA -0.2 0.1 -0.58 -0.23 NA 1.1 0.8 85 102 104 105 106 6.870 1.418 6.711 1.373 6.468 1.301 6.477 1.295 6.512 1,293 1.292 1.290 1L296 -0.002 0.009 0.035 0.006 -0.006 -0.002 107 108 NA 2.75 NA NA NA 69.42 4.58 58.08 9.7 71.86 8.95 40.66 8.5 2.44 NA -2.78 1 NA 4.37 -14.24 -37.83 +5.29 -17.42 NA 13.32 NA NA -1.2 -1.6 NA 37.9 NA NA NA NA NA NA Lg,Lg,Lg.... do 224.3 91.7 223.3 90.7 221.7 69.5 -0.4 -1.0 -0.7 -1.2 -0.8 Money and Credit Money: 85. Change in money supply ( M l ) 3 102. Change in money supply (M2) 3 . , . 104. Change in total liquid assets (smoothed6)3. 105. Money supply ( M l ) , 1972 dollars . *106. Money supply (M2), 1972 dollars . . Velocity of Money: 107. Ratio, GNP to money supply (Ml) 3 ... 108. Ratio, personal income to money supply (M2) 3 Credit 33. 112. 113. •111. 110. . . .. . -0.93 283.4 -0.58 . L,L,L .do. L,C,U . .do. L,L,L .do.. L.L.L Bil. dol L.L.L .do. C,C,C... Ratio C,Lg,C... Flows: Change in mortgage debt3 Change in business loans3 Change in consumer installment credit3 Change in credit outstanding3 Total private borrowing L,l,L... A.r., bil. dol... do L,L,L... L,L,L... L,L,L... A.r., percent.. L,L,L... A.r., bil.dol... 39.91 - 7 . 0 1 2.16 -0.62 36.30 16.79 12.50 -25.33 18.14 13.04 24.17 37.49 2.0 7.1 0.4 1.4 305.60 262.99 277.77 383.00 Credit Difficulties: 14. Liabilities of business failures (inv.*) © 39. Delinquency rate, installment loans (inv.') 3S L,L,L... Mil. dol L,L,L... Percent, EOP , 579.60 2.37 NA 2.18 NA 2.22 NA 1.92 NA NA| NA NA -0.13 -0.11 NA -0.4 -0.1 NA NA -0.40 -1.14 0.03 2.0 1.5 NA 0.30 NA 28.08 NA NA NA 33 112 113 111 110 NA NA 14 39 Table 1. Summary of Recent Data and Current Changes for Principal Indicators—Continued Basic data' Unit of measure 1 Series title and timing classification Percent change Annual average 1981 1982 July 1st Q 1983 2dQ 1983 3dQ 1983 July 1983 Aug. 1983 Sept. 1983 Aug. 1983 Aug. to Sept. 1983 1st Q to 2dQ 1983 2dQ to 3dQ 1983 I. CYCLICAL INDICATORS—Con. 87. Money and C r e d i t — C o n . Bank Reserves: 93. Free reserves (inverted*) 3 ® 94. Borrowing from the Federal Reserve1 © ... L.U.U.... Mil. dol do.. . L,Lg,U.... •1,051 1,359 -692 1,052 -164 636 -735 1,203 -997 1,467 -875 -1,127 1,382 1,573 -989 1,446 252 191 -138 -127 571 567 262 264 Interest Rates: 119 Federal funds rate3 © 114. Treasury bill rate 8 ©.. 116. Corporate bond yields 3 © 115. Treasury bond yields'© 117. Municipal bond yields 3 ® 118. Mortgage yields, residential3 © 67. Bank rates on short-term business loans3 ® *IO9. Average prime rate charged by banks3 © L,Lg,Lg.... Percent do.., C,Lg,Lg..., do... Lg,LgtLg- do... C,lg,Lg,... do... U,Lg,Lg.... do... Lg.Lg.Lg.... do... Lg,Lg,Lg.... do... Lg,Lg,lg.... 16.38 14.08 15.48 12.87 11.33 16.31 19.56 18.87 12.26 10.72 14.68 12.23 11.66 15.30 14.69 14.86 8.65 8.08 11.99 10.44 9.43 12.73 10.20 10.88 8.80 8.42 11.57 10.35 9.23 12.62 10.31 10.50 9.46 9.19 12.68 11.26 9.61 13.85 11.09 10.80 9.37 9.12 12.46 11.10 9.53 14.23 9.56 9.39 12.89 11.42 9.72 13.78 9.45 9.05 12.68 11.26 9.58 13.55 0.19 0.27 0.43 0.32 0.19 -0.45 -0.11 -0.34 -0.21 -0.16 -0.14 -0.23 10.50 10.89 11.00 0.39 0.11 0.15 0.34 -0.42 -0.09 -0.20 -0.11 0.11 -0.38 0.66 0.77 1.11 0.91 0. 1.23 0.78 0.30 326.27 339.32 345.36 354.73 NA 359.57 362.96 227.06 266.42 266.15 261.32 261.00 260.65 261.40 260.96 0.9 0.3 NA -0.2 2.7 -1.8 NA -0.1 92.14 106.02 105.50 103.22 102.10 102.38 102.11 101.82 NA 13.09 13.17 13.16 12.92 12.92 12.93 -0.3 0.08 -0.3 NA -2.2 0.01 -1.1 NA 0.5 0. 1. 0. 0. 1.0 1.1 0.3 1 0.8 O.i OjtstandingDebt: 66. Consumer installment credit5 It Commercial and industrial loans outstanding *]01. Commercial and industrial loans outstanding, 1972 dollars *95. Mio, consumer install, credit to pers. income3 Lg,Lg,Lg.... Bil. dol., EOP. Lg,Lg,Lg.... Bil. dol do Lg,Lg,Lg,... Lg,Lg,Lg,... Percent It. OTHER IMPORTANT ECONOMIC MEASURES B. Prices, Wages, a n d Productivity B l . Price M o v e m e n t s 310. 3J'O. 320c. 322. 330. 335. 331. 33?. 33.1. 33-1. Implicit price deflator, GNP Consumer price index (CPI), all items ® Change in CPI, all items, S/A3 CPI, food P-oducer price index (PPI), all commodities © . . P'l, industrial commodities © Pl'l, crude materials Pl'l, intermediate materials PPI, capital equipment Pfi, finished consumer goods 1972 = 100... 1967 = 100... Percent 1967=100... ...do.., ...do.. ...do.. ..do.., ..do.. 195.1 272.4 0.7 274.6 293.4 304 329.0 306, 264, 271.3 206.9 289.1 0.3 285.7 299.3 312.3 319.5 310.4 279.6 280.9 212.8 293.2 0. 288.9 300.5 313.8 317.2 309.5 284.9 282.9 214.6 296.9 0.4 291.6 301.5 313.8 323.8 309.1 286.4 283.2 216.4 300.5 0.4 291.7 304.5 317.1 324 314, 288. 285.5 299.3 0.4 291.0 303.2 316.6 319.7 312.2 287.7 284.6 300.3 0.4 291.6 304.9 317,5 326.5 314.0 289.6 285.5 301.8 0.5 292.5 305.3 317.2 328.0 316 288.8 286.4 0 0 0.2 0 0.3 0.3 0.7 -0.3 0.3 0.8 1.3 0.4 0.9 0.3 0 2, -0, 0. 0.1 138.9 148.3 153.2 154.5 155.4 155.2 155.0 155.9 -0.1 0.6 0.8 0.6 92.6 143.1 95.4 101.3 100.3 93.3 154.4 96.9 101.2 100.2 95.0 160.6 99.3 102.5 101.7 94.8 162.2 99.3 103.8 103.3 94.3 164 99.3 105.0 104.6 94.7 94.0 94.2 -0.7 0.2 -0.2 1.0 0 1.3 1.6 -0 1 0 1.2 1.3 108.67 110.20 110.53 111.16 112.17 111.88 112.26 112.37 100.40 99.53 99.09 99.93 101.60 101.28 101.56 101.94 8,273 10,678 11,439 11,222 10,571 10,590 10,699 10,423 3,615 5,089 5,532 5,169 5 , 2 0 8 5,642 5,174 5,125 2,895 3,613 3,777 3,549 3,521 3,926 3,609 3,518 1,763 1,977 1,913 1,852 1,860 1,871 1,916 1,780 6,795 9,006 9,478 8,934 8,949 9,022 9,811 8,832 0.3 0.3 1.0 -0.7 2.5 3.0 0.8 0 1 0.4 2.6 0.9 2.5 7.1 2.1 0.6 0.8 -1.9 -1.9 -3.8 2.2 -3.4 0.9 1.7 -5.8 -6.6 -6.0 -3.2 -5.7 -0.2 0.3 1.1 0. 0.1 -0.7 0.3 0. 0.4 0.3 0.4 0.7 17.2 4.7 1.5 11.3 3.7 1.4 NA 1.7 NA NA 2.4 NA NA -19.6 3.1 NA 3.2 0.1 8 2 . Wages a n d Productivity 340. Average hourly earnings, production workers, private nonfarm economy 341, Real average hourly earnings, production workers, private nonfarm economy 345. Avtrage hourly compensation, nonfarm business 346, Reel average hourly compensation, nonfarm business.. 370, Output per hour, private business sector 358. OutDut per hour, nonfarm business sector 1977-100... ..do.., ...do.., ...do... ...do... C. Labor Force, E m p l o y m e n t , and Unemployment 441. 442, 37. 444. 445. 446. 447. Labor 451. 452. 453. .do. .do.. Percent.... 79.0 52.1 55.4 78.7 52.7 54.1 78.1 52.9 53.0 78.4 52.9 53.4 78.7 53.3 54.1 183.3 - 1 6 6 . 1 623.3 652.6 818.7 806.6 51.7 40.4 478.7 461.7 427.0 421.3 NA NA 832.3 NA NA 437.4 78.8 53.1 53.6 78.6 53.4 54.7 78.6 53.5 54.0 D. G o v e r n m e n t Activities Receipts and Expenditures Fuderel Government surplus or deficit3 Ftideral Government receipts Federal Government expenditures State end local government surplus or deficit3. State and local government receipts State and local government expenditures D2, 517. 525. 548. 557. 570. 564. .do. Force Participation Rates: Males, 20 years and over3. f'ema es, 20 years and over3 Eiothuexes, 16-19 years of age3 Dl. 500. 501. 502. 510. 511. 512. Millions .do... Thousands.. . do Total civilian labor force Total civilian employment Number of persons unemployed Unenployed males, 20 years and over Unemployed females, 20 years and over . . . . Unemployed persons, 16-19 years of age. . .. dumber unemployed, full-time workers ...do... ...do.. ...do... ...do... ...do... -62.2 -147.1 627.0 617.4 689.2 764.4 35.3 31.3 418.1 439.1 382.7 407.8 Defense Indicators De!ense Department obligations incurred Deiense Department prime contract awards.. New orc'ers, defense products Output uf defense and space equipment Ermloyniflnt in defense products industries... National defense purchases Mil. dol.. 1967 = 100... Thousands.. A.r., bil. dol.. 15,945 18,908 20,429 20,135 8,065 10,718 12,434 10,352 4,917 7,152 6,600 6,246 102.7 116.5 117.9 109.3 1,392 1,356 1,362 1,371 154.0 194.4 199.4 179.4 NA 19,409 20,489 NA 11,017 10,727 5,304 6,901 4,545 121.5 120.0 121.5 1,354 NA 1,373 205.8 NA NA 4,467 122.9 NA 5.6 -2.6 -34.1 1.2 -1.4 NA NA -1.7 1.2 NA -1.4 -16.7 -7.7 1.2 0.4 2.6 16,628 16,630 2,973 NA 3,072 3,290 NA 3,655 NA 21,950 22,782 4,828 NA 5,220 2,762 NA 2,988 NA NA NA NA NA NA 0. -3.2 -10.0 3.8 -7.5 -7.6 NA NA NA NA NA NA -3.6 -3.8 -2.8 6.4 23.8 7.1 E. U.S. International Transactions E l . Merchandise Trade 602. 604. 606. 612. 614. 616. Exports, excluding military aid shipments, total Experts cf domestic agricultural products Exports cf nonelectrical machinery General imports, total Imports of petroleum and products Imports of automobiles and parts .. Mil. dol.... ..do.. ...do,. 19,456 17,694 3,053 3,608 4,007 4,456 21,751 20,329 4,964 6,319 2,442 2,190 6,824 16,216 2,975 2,861 3,501 3,404 9,520 20,770 3,429 4,246 2,675 2,866 NA NA Table 1. Summary of Recent Data and Current Changes for Principal Indicators—Continued Basic data2 Unit of measure Series title Percent change Annual average 2dQ 1981 1982 1982 3dQ 1982 4th Q 1982 1st Q 1983 2dQ 1983 3dQ 1983 4th Q to 1st Q 1983 1st Q to 2<JQ 1983 2dQ to 3dQ 1983 II. OTHER I M P O R T A N T E C O N O M I C MEASURES—Con. E2. G o o d s a n d S e r v i c e s M o v e m e n t s E x c e p t Transfers Under Military Grants 667. 668. 669. 622. 618. 620. 651. 652. Balance on goods and services3 Exports of goods and services Imports of goods and services Merchandise trade balance3 Merchandise exports Merchandise imports Income on U.S. investments abroad Income on foreign investments in the U.S Bil. dol. .. ...do.. .do.. .do... do .do.. . .do. ....do... 1.87 85.52 83.65 -6.39 56.06 62.44 18.11 10.72 2, 93, 90, -7. 59, 66. 21. 13. -0.80 87.08 87.88 -9.10 52.80 61.90 21.04 14.21 3.24 - 4 . 8 5 - 4 . 1 9 90.79 86.93 80.84 87.55 91.79 85.03 - 5 . 8 5 -13.08 -11.35 55.00 52.24 48.34 60.85 65.32 59.70 22.32 21.57 19.50 14.78 14.75 13.49 - 2 . 0 3 -7.87 81.14 81.88 83.17 89.75 - 8 . 8 1 -14.66 49.51 48.91 58.32 63.57 17.70 19.19 12.61 13.26 2.16 0.4 -2.2 2.54 2.4 -2.3 -9.2 -6.5 -5.84 0.9 7.9 -5.85 -1.2 9.0 8.4 5.2 NA NA NA NA 618 620 651 652 2.0 0.6 0.4 0.1 1.3 0.7 0.5 3.2 2.3 2.1 1.7 2.0 0 0.7 2,8 1.9 1.7 1.2 2.6 1.6 1.4 200 50 217 213 224 225 227 2186. 1019, 284. 158.6 818, 379, 1083, 481.1 1.3 0 2 1 0.5 0,8 1.5 0.3 3.6 2.4 7.4 7.3 2.9 1.6 3.1 1.6 1.8 0.9 2,3 1.3 2,4 1,3 1,3 0.4 230 231 232 233 236 238 237 239 667 668 NA A. N a t i o n a l I n c o m e a n d P r o d u c t A l . GNPand Personallncome 200. 50. 217. 213. 224. 225. 227. GNP, current dollars GNP, 1972 dollars Per capita GNP, 1972 dollars Final sales, 1972 dollars '. Disposable personal income, current dollars Disposable personal income, 1972 dollars Per capita disposable personal income, 1972 dollars 230. 231. 232. 233. 236. 238. 237. 239. Total, current dollars Total, 1972 dollars Durable goods, current dollars Durable goods, 1972 dollars Nondurable goods, current dollars... Nondurable goods, 1972 dollars Services, current dollars Services, 1972 dollars 240. 241. 242. 243. 245. 30. Total, current dollars Total, 1972 dollars Total fixed investment, current dollars Total fixed investment, 1972 dollars Change in business inventories, current dollars3... Change in business inventories, 1972 dollars3 : A.r., bil. dol.. ...do A.r., dollars.. A.r., bil. dol.. ...do ...do A.r., dollars.. 2631.7 1475.0 6,478 1479.4 1828.9 1021.6 4,487 A.r., bil. dol.. ..do.. ..do.. ..do.. ...do... ..do... ..do.., ..do.., 1668.1 1857. 931.8 956 214.7 236 137.5 141. 668.8 733 355.6 362 784.5 887 438.8 453 2954.1 1513.8 6,584 1505.3 2047.6 1054.7 4,587 3073.0 1485.4 6,399 1494.8 2176.5 1060.2 4,567 3070.2 1489.3 6,425 1492.7 2159.0 1060.2 4,574 3090.7 1485.7 6,393 1487.0 2191.5 1059.3 4,558 3109.6 14 80.7 6,355 1503.4 2227.8 1066.1 4,576 3171.5 1490.1 6,382 1505.5 2255.9 1073.8 4,599 A2. Personal C o n s u m p t i o n Expenditures 970.2 244.5 139.8 761.0 364.2 986.4 466.2 1972.8 2008, 968.8 971, 242.9 243, 139.5 138. 754.7 766. 363.5 364. 975.2 998. 465.7 463. 2046.9 2073.0 2147, •979.6 986.7 1010, 252.1 258.5 277, 143.2 145.8 156, 773.0 777.1 799, 366.0 368.9 374, 1021.8 1037.4 1069, 470.4 472.0 479, A 3 . Gross P r i v a t e D o m e s t i c I n v e s t m e n t ..do.. ..do.. ..do.. ..do,. ..do.. 401.9 208.5 411.7 212.9 -9.8 -9.8 474.9 227.6 456.5 219.1 18.5 18.5 414.5 194.5 439.1 203.9 -24.5 -24.5 432.5 425.3 201.4 198.4 443.7 430.2 20 4.9 199.8 -11.2 -4.9 -3.4 -1.3 377.4 178.4 433.8 201.1 -56.4 -22.7 404.1 190.0 443.5 205.4 -39.4 -15.4 450 210 464 215 -14 -5 501.0 230.4 489.2 225.6 11.8 4.8 7.1 6.5 2.2 2.1 17.0 7.3 11, 10, 4.3 5 24.9 10.0 11.3 9.6 5.3 4.6 26.3 10.2 240 241 242 243 245 30 ..do.. ..do.. ..do... ..do... ..do... ..do.., 537.8 284.3 197.0 106.4 340.8 177.9 595.7 286.5 229.2 110.4 366.5 176.1 649.2 291.8 258.7 116.6 390.5 175.2 631.6 285.8 244.1 110.3 387.5 175.4 655.7 292.2 261.7 116.9 394.0 175.3 679.7 299.7 279.2 124.4 400.5 175.2 677.4 292.9 273.5 118.4 404.0 174.5 .4 292 273 117 409| 701.8 296.1 281.2 119.6 420.6 176.6 -0.3 -2.3 -2.0 -4.8 0.9 -0.4 0.9 -0.3 0 -0.7 1.4 0. 2.7 1.4 2.7 1.7 2.7 1.2 260 261 262 263 266 267 ..do.. ...do.. 23.9 50.3 338.8 159.1 314.8 108.8 26.3 43.0 368.8 159.7 342.5 116.7 17.4 28.9 347.6 147.3 330.2 118.4 33.3 33.4 364.5 154.5 331.2 121.1 0.9 24.0 346.0 146.4 345.0 122.4 5.6 23.0 321.6 136.5 316.1 113.5 17.0 20, 326, 137. 309, 116.8 -25.9 8.7 339.2 139.9 365.1 131.1 11.4 -2.5 1.6 0 -2.0 2.9 -25.5 -8.2 0.1 -0.8 8.3 6.1 -17.4 -3 3.7 2.7 8.8 5.8 250 255 252 256 253 257 2474.0 2528.5 2116.6 2373.0 2450.4 2448.9 1599.6 1769.2 1865.7 1859.9 1879.5 1889.0 1923.7 116.2 120.6 117.4 120.2 109.0 104.9 54.1 49.0 52.3 31.5 50 41.4 49.9 161.9 181.8 175.4 192.3 164.8 166.8 168 254.7 248.3 192.6 249.9 261.1 268.3 256.4 NA 2011.3 127.4 53.9 NA 246.1 2.2 1.8 3.8 3.4 12.3 -2.5 3.3 2.3 5 1.3 20.0 -1.8 NA 2.2 0.2 -1.6 NA 0.9 220 280 282 234 286 288 NA NA 110.9 NA 4.7 13.4 3.4 0 32.4 0. 5.5 5.6 -24.8 28.5 -1.4 NA NA 21.2 NA 0.7 290 295 292 298 293 A4. G o v e r n m e n t P u r c h a s e s of G o o d s a n d S e r v i c e s 260. 261. 262. 263. 266. 267. Total, current dollars Total, 1972 dollars Federal Government, current dollars Federal Government, 1972 dollars State and local governments, current dollars State and local governments, 1972 dollars A5. Foreign Trade 250. 255. 252. 256. 253. 257. Net exports of goods and services, current dollars3 Net exports of goods and services, 1972 dollars3 Exports of goods and services, current dollars Exports of goods and services, 1972 dollars Imports of goods and services, current dollars Imports of goods and services, 1972 dollars ..do.. ,..do.. ..do.. A 6 . N a t i o n a l I n c o m e a n d Its C o m p o n e n t s 220. 280. 282. 284. 286. 288. National income Compensation of employees Proprietors' income with IVA and CCAdj . Rental income of persons with CCAdj Corporate profits with IVA and CCAdj Net interest 290. 295. 292. 298. 293. Gross saving (private and government) . Business saying Personal saving Government surplus or deficit3 Personal saving rate3 A7. ..do... ..do.. ..do.. ..do.. ..do.. Saving ..do.. ....do.. ....do.. ....do.. Percent 405.9 325.2 110.2 -30.7 6.0 483.8 4 0 5 . 8 374.4 396.2 135.3 125.4 -26.9 -115.8 6.6 5.8 NOTE: Series are seasonally adjusted except for those, indicated by ® , that appear to contain no seasonal movement. Series indicated by an asterisk (*) are included in the major composite indexes. Dollar values are in current dollars unless otherwise specified. For complete series titles and sources, see "Titles and Sources of Series" at the back of this issue. NA, not available, a, anticipated. EOP, end of period. A.r., annual rate. S/A, seasonally adjusted (used for special emphasis). IVA, inventory valuation adjustment. CCAdj, capital consumption adjustment. 1 The three-part timing code indicates the timing classification of the series at peaks, at troughs, and at all turns: L, leading; C, roughly coincident; Lg, lagging; U, unclassified. 439.5 397.9 351.3 398.5 0.6 393.6 401.9 405.8 419.7 3.4 127.1 123.0 120.8 121.7 1.5 - 8 1 . 2 -127.0 -175.3 -142.9 -1 4.4 5.4 5.9 5.6 5.4 4.0 2 For a few series, data shown here are rouided to fewer digits than those shown elsewhere in BCD. Annual figures published by the source agencies are used if aliable. 3 Differences rather than percent changes are si Dwn for this series. 4 love counter to movements in general business activity, signs of Inverted series. Since this series tends I the changes are reversed. 5 End-of-period series. The annual figures (am quarterly figures for monthly series) are the last figures for the period. 6 This series is a weighted 4-term moving av age (with weights 1, 2, 2, 1) placed on the terminal month of the span. I CYCLICAL INDICATORS COMPOSITE INDEXES AND THEIR COMPONENTS Chart A l . Composite Indexes Aug. Apr. P T Nov. Oct. P T I; hpr. Feb. P T low. M M . Dee. Nov. P T P I P {Index: 1967*-100 1 ij no|i -it / (series lj 5,8,12,19, 20, 29,32, 36,99, 106,) I1 i! f i! li I If 150130* / ji jj 160- -3 9io. Index of 12 leading indicators 1 T ^ \ / V / rrn3 in 120110- -i / 1; 1; 920. Wex of 4 roughly coincktent indicators (serte|.41,47, 51, 57) o 930. Index of 6 lagging indicators (Series 62, 77, 91, 95,101,109) SI 52 33 84 BS §6 §J §8 S9 60 61 64 ©S 6© 67 ©S 69 70 71 NOTE: Numbe'S entered on the chart indicate length of leads ( - ) and lags ( + ) in months from reference turning dates. Current data f i r these series are shown on page 60. 10 OCTOBER 1983 BCII CYCLICAL INDICATORS IA I COMPOSITE INDEXES AND THEIR COMPONENTS—Continued Chart A l . Composite Indexes—-Continued Nov. Oct. P T P T Aug. Apr. PI Apr. Feb. P T Dec. Nov. P T Nov. Mar. P T Jan. July July Nov. P T P T 913. Marginal employment adjustments (series 1,2f 3 , 5 ) 914. Capital investment commitments (series 12,20,29) -15 -u! 120110100- 90- I f i 915.J Inventory investment and purchasing (series 8,32, ;&>, 99) "L"rl i 120- ^1 110100- 4 916. Profitability (series 19,26, 917. Money add financial flows (series 104,106, 111) II J \\r 940. Ratio, coincident index to lagging index 1948 49 50 51 57 58 59 60 61 62 63 64 65 66 67 68 82 1983 NOTE: Numbers entered on the chart indicate length of leads ( - ) and lag&( + ) in months from reference turning dates. Current data for these series are shown on page 60. OCTOBER 1983 11 1 CYCLICAL INDICATORS COMPOSITE INDEXES AND THEIR COMPONENTS—Continued Chart A2. Leading Index Components No/. Get P T July May P T Aug. Apr. P T • Apr. Feb. P T Dec WOT. P T Nov. Mar. P T P T P Nov. T i 1. Average workweek, production workers, mamifacjlturhg (hotir^) At/prnff0 u/ppklu initial rlaimc fltato nnnmnlnumpnt incuranrp (thousands—inverted scale) 8. Mew orders for consumer goods and materiaJs, 1972 dollars (bil, dol.) 32. Vendor performance, percent of companies receiving slower deliveries (percent) 12. fjet business formation (index; 1967 T= 100) 20.!! Contracts and 1948 49 90 51 52 93 54 55 56 57 58 59 60 61 62 S3 64 65 82138$ Current thita (or these secies are shown on pages 61, 64, 65, and 66. 12 OCTOBER 1983 CYCLICAL !A COMPOSITE INDEXES AND THEIR COMPONENTS—Continued Chart A2. Leading Index Components—Continued Nov. Oct. P T July May P T. 29. 36. Aug. Apr. P T Apr. Feb. P T Dec, Nov. P T Nov. Mar. P T Jan. July July NOT. P T P T New building permits, private housing units (index: 1967 = 100) nxn NeJ change in inventories on hand and on order, 1972 dollars, smoothed1 (ann. rate, bil, dol.) smoothed1 (percent) 111. Change in credit outstanding—business and consumer porrowmg ^ann. rate, percent; I JLLLI 19. Stock prices, 500 cbmmon stocks (index: ' 1 9 4 1 - 4 3 - 1 0 ) 106. Money s u p p l y ^ M 2 - i n 1972 dollars (bil. dk) 1948 49 50 51 52 53 §4 55 5i 'This is a weighted 4-term moving average (with weights 1,2,2,1) placed on the terminal month of the span. Current data for these series are shown on pages 67, 68, 69, 7 1 , and 72. OCTOBER 1983 13 1 CYCLICAL INDICATORS COMPOSITE INDEXES AND THEIR COMPONENTS—Continued Chart A3. Coincident Index Components Nov. Oct. T Aug. Apr. P . Apr. Feb. T P T .. 41. Employees an nonagricultural payrofls p l o n s ) cite 51. Personal \ncme less transfer 0$m 1972 M a r l tm. rate, bilj|*li) — Industrial product^ total (index: cZc 57. Manufacturing and trade sales 1972 dollars (bil. <ML) 1948 49 90 51 92 §3 54 §§ S6 57 58 99 60 61 62 63 64 65 66 67 68 69 70 71 72 73 74 75 76 77 78 79 80 8X 821983 Current data for these series are shown on pages 62, 63, and 65. 14 OCTOBER 1983 BCII CYCLICAL INDICATORS IA COMPOSITE INDEXES AND THEIR COMPONENTS—Continued Chart A4. Lagging Index Components Nov. Oct. P T July May P T Aug. Apr. P T Apr. Feb. P T Dec. Nov. P T Nov. Mar. P T Jan. July July Now. P T P T |i 91. Average duration of unemployment (weeks—inverted scale) 10121416* 1820 « 22^ 7. Ratio, constant-dollar inventories to sales, manufacturing and t r a * (ratio) ,• •• • '| i 1.91.81.71.61.5- i,$2. Labor cpst per unit of output, manufacturing—actual data |j as perceht of trend (percent) [ L g L g ) L g | f 1.4llO-i 105* 10095« 109. Average prime rate charged by banks (percent) 101, Commercial and industrial loans outstanding in 1972 dollars (bil. doJ.) o. Kauo, consumer installment crean to personal mcom 1948 49 50 51 52 93 54 55 56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 71 72 73 ?4 Current data for these series are shown on pages 62, 68, 70, and 73. OCTOBER 1983 15 CYCLICAL INDICATORS CYCLICAL INDICATORS BY ECONOMIC PROCESS Chart B l . Employment and Unemployment jg. Apr. P T Dec. P Apr. Feb. T Now. T Now. Mar. P T Jan. July P T July P New. T 81 82 1933 [Margjhal Employment Adjustments 1. Average workweek, production workers, ma 21, Average weekly overtime hours, 2. Accession rate, manufacturing (per 1 5, Average weekly initial claims, State unemployment insurance (thots^ruis—inverted scale) 3. Layoff rate, manufacturing (per 1(W wployees—invert 19S6 B7 m Si 60 ©1 62 S3 S4 6§ 67 S8 69 70 71 72 73 74 79 Current data for these series are shown on page 6 1 . 16 OCTOBER 1983 CYCLICAL INDICATORS CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued Chart B l . Employment and Unemployment—Continued Aug. Apr. P T Apr. Feb. P T Dec. Nov. P T 1 60. Ratio, help-wanted advertising to number of persons unemployed (ratio) 0.60.2- 200* 46. Help-wanted advertising (index: 1967 = 100) 175110- 125100- 170- [Comprehensive Employment! 48. Employee-hours in nonagricultural establishments (ann. rate, bil. hours) 150- iril nonagricultural activities ( [ p i l l i o n s ) ^ ' , /* 85- 41. Employees on nonagricultural payrolls (millions) CXiC S52827* 23 - njf 40. Employees in goocls-producing industriest-mming, manufacturing, construction (millions) 20 J 1 1956 57 58 59 $0 61 62 63 64 65 66 67 68 69 70 71 72 73 74 7i 76 77 78 79 Current data for these series are shown on pages 6 1 and 62. IMJI OCTOBER 1983 17 CYCLICAL INDICATORS B I CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued Chart B l . Employment and Unemployment—Continued Dec. toy. P T Apr. Feb. P T Aug. Apr, P T i%v. 1 '1; \ Im. July P T Mar. P Juiy P Nov. T -If ] Comprehensive Employment—Con, j 90. Ratio, civilian employment to total population of wojtiif age (percent) 55§4- | Comprehensive Unemployment] 37. Number unemployed, total (npons—inverted scale 43. Unemployment rate, total (|Krs«nt—inverted 10125i 910- 45. Average weekly insured unemployment rate (percent—inverted ,lg,U 11- 91. Average duration of unemployment (weeks—inverted sc ILg.Lg.Lel ID* 12141618ZO22- \ . A -4V^ 44. Unemployment rate, persons unemployed IS weeks and over (percent—inverted scale) 1- v IV : 2- 9 34- ..JUUl 1956 57 S§ S© ©0 SI 62 §7 68 70 71 72 73 iUUdl . 74 75 S77 78 80 81 82 1983 Current data for these series are shown on page 62. 18 OCTOBER 1983 BCII CYCLICAL INDICATORS CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued Chart B2. Production and Income Aug. Apr. P T Dec. Nov. P T Apr. Feb. PI Ian. July P T July P Nov. T 51. Personal incofBefes transfer payments if , (aifin. Hjjte, b f | | ) •' \, prr s in mining, man 72 dollars (ann. ftrtUlJ 1 ..".. 1 iV -.JI. j l . / . J . . j i . : J L J U U h l u .1 : i . - - I 1 . 1956 57 58 59 60 61 62 63 64 65 66 67 68 69 70 71 72 73 74 75 76 J > i J7 i M 78 r " J U l • I. 79 80 JJL-'—i SI 82 1983 Current data for these series are shown on page 63. licit OCTOBER 1983 19 CYCLICAL INDICATORS CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued Chart B2. Production and Income—Continued Aug. Apr, P , Apr. Feb. P T iL , T ' . ! Nov. Nev. Mar, P T P T 1 Jan. July Jiilj; F T P Nov. T ]1 _ ™ jj ^A Industrial Production] ;i i! Dee. \ ii 47. Industrial production, total (index: 1 9 6 7 = 1 0 0 ) ^ , ^ ^ || i; 160 •< ii J / / \ .. , ji lc.c,c| 130* ii . I' ISO* 140^ I: 'i 110- 74. Industrial production, Nondurable manufacture (index: 1 9 6 7 - 1 0 0 ) g X I 73, industrial production, durable mamjfactures (index: 1 9 6 7 - 1 0 0 ) j value or goods output in w z i j m a f j t (ann. rate, bil. dol.) !l [Capacity Utilization^ | 83. Rate of capacity utilization, manufacturKt| (BEA), Q (percent) 80- eo- 82. Rate of capacity utilization, manufacturing (FRB)f Q (percent) 908070* 84. Rate of capacity utilization, materials, Q (pwcent) 6090- 70 71 It 81 82 1S83 Current data for these series are shown on pages 63 and 64. 20 OCTOBER 1983 CYCLICAL INDICATORS B I CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued Chart B3. Consumption, Trade, Orders, and Deliveries Aug. Apr. P . T . ..ji. . , . i | Ordefe. and Deliveries li ' l ' II !} 6. New orders, durable goods industries, current dollars (bif. do I.) 7; New orders, durable i»Qods industries. 1972 dollars " (bil.dol.) X 8. New orders for consumer goods and materials in 1972 dollars (bil. dol.) 25. Change in unfilled orders, durable goods industries (bil. dol.; MCO moving a v ^ - 4 - t e r m ) ~ T LL 96. Manufacturers' unfilled orders, durable goods industries (bil. dol.) 32. Vendor performance, percent of companies receiving slower deliveries (percent) 1956 57 58 59 60 61 62 63 64 65 66 67 68 69 70 71 72 73 74 7S 76 J7 78 79 SO Current data for these series are shown on page 64. BCD OCTOBER 1983 21 CYCLICAL INDICATORS CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued Chart B3. Consumption, Trade, Orders, and Deliveries—Continued Aug. Apr. P" T ten. July July P I P Apr. Feb. P T Nov. T fCoriSiimption andTrfldel ».ir.... :. H I i.m. « 56. Manufacturing and trade sales te current g and trade sales (ML doO 75. Industrial production, (index: 1967*= 100) 54. Sales of retail s t o r # M current dollars ( 59. Sites of retail stores m 1972 dollars (bil. dol.) iro 55. Personal.tpumption expenditures, a u t o m i t e Q (ann. rate, M. dd.) 58> Index of consurt&f sentiment (1st Q 1986 §7 SS UB 09 SI 62 63 64 65 66 67 68 70 71 72 73 74 79 76 77 78 79 80 81 1983 Current djita (or these series are shown on page 65. 22 OCTOBER 1983 ItCII CYCLICAL INDICATORS CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued Chart B4. Fixed Capital Investment Jan. July July P I P Apr. Feb. P T Aug. Apr. P T Wov. T [Fornjiation of BusinesS Enterprises) 12. Net business format^ (index: 1967-lOOli jjTT 13. New business 10. Contracts and orders for pjant and in current dollars;(M*idol.) | L L L | [Business Investment Commitments [ f r* 20. Contracts and orders for plant and equipment in 102 doKars (bil. dpi.) 24. Manufacturers' new orders, capital goods industries, nondefense, in current dollarsTO,dol.) 27, Manufacturers' new orders, capital goods industries nondefense, ml 1972 dollars {bil. dol.) 9. Construction contracts, commercial and industrial butldmgs (mil. sq. ft. of floor area; MCQ moving avg.—b-term)' "LLIJ 19S6 57 58 59 60 61 62 63 64 65 66 67 68 699 70 ILJ 71 i1 72 : l !ULiUL_L. 73 74 ' 75 i 76 . 77 - .,.....,._ 78 ,.- 7@ 80 81 82 1983 l This is a copyrighted series used by permission; it may not be reproduced without written permiiission from McGraw-Hill Information Systems CompanyJ F.W. Dodge Divisio Current data for these series are shown on pages 65 and 66, IECII OCTOBER 1983 23 B CYCLICAL INDICATORS CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued Chart B4. Fixed Capital Investment—Continued Aug. Apr. Apr. Fab. PI i P Dec, Nov. Nov. (War. P T f T T kw. Jt)!y p T hi )j Nov. P T 1 Busipss Investrpent.Commitments—Con. 97, Backlog of capital appropriates, manufacturing, Q (bil, doL) I Vl.LV.LK I 11. New capital appropn&t&ns, manufacturing Q (by. dol.) h 61. Business expendtares for new plant ^xi equipment, Q (ann.rate,by!4*) Investmefrt fxpentjitures 1 : ^T i Machinery and equipment salek m\ business construction expenditures ( a n l ^ ^ e , bil. dol.) /* Jr ! production, N : 1967-100) 1996 m 88 59 SI 62 S3 04 65 66 ©7 68 69 81 §2 1983 Current d»ta Vor these series are shown on pages 66 and 67. 24 OCTOBER 1983 ItCII B CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued Chart B4. Fixed Capital Investment—Continued | Busiriess Investment Expenditures—Con, Nonresidential fixed investment in 1972 dollars, Q (ann. rate, bil. dol.) 86. Total, Q 88. Producers' durable 87. Structures, Q I Residential Construction Commitments and Investment! started, total (ann. rate, millions) 28. New private housing u LLL 29. New building permits, private housing units (inde# 19^7 = ip0) : 89. Residential fixed investment, total, in 1972 (Mars, Q (ann. rate, bil. dol.) 70- m 60§0- \ / 40- I ii nKJ 1958 37 §8 59 jinJi 6© §!. ' §2 ' 63 i ' ^ !i i ' , 64 65 66 67 J l i JLUIJL-I J L U U L J MI I H LI J ui' _Lfuui ll j ' , ' ,^. i, 68 69 70 71 72 73 74 75 76 aoI j 7(7 I i 78 J, JL.1L J 79 80 SI 82 1983 Current data for these series are shown on page 67. ItCII OCTOBER 1983 25 CYCLICAL INDICATORS CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued Chart B5. Inventories and Inventory Investment Aug. P" Apr. .pr. Feb. P T Dec. Hm. Nov. Mar. P T P T T I Inventory Ihvestmentll Jan. Jdy F T July P Nov. T 30. Change in business inventories, 1$72 do«ars, Q (ann. r*t* ffcl.dol.) +20- HI A A 36. Net change in inventories on hand and on order, 1972 dollars (ann. rate, bit. dol.; moving avg.—4-terrttl) i . i 31. Change in book value, manufacturing and trade inventories (ann. rate, biL dol.; MCD moving avg.—6 38. Change in stocks of materials and supplies on feaftd and on order, i! manufacturing (bil. dol.; MCD moving avg.—4- 1956 l\7 S8 99 60 61 62 63 64 69 66 67 68 69 70 71 72 73 74 75 7© 7/ 78 79 SO 81 82 1983 'This is a weighted 4-term moving average (with weights 1,2,2,1) placed on the terminal month of the span. Current data t j r these series are shown on page 68. 26 OCTOBER 1983 BCII CYCLICAL INDICATORS CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued Chart B5. Inventories and Inventory Investment—Continued Aug, Apr. P T Jan, July P T Apr. Feb. P T July P Nov. T Hand ahd on Order 1 71. Book value, manufacturing and bade [inventories^ J current dofers (bil. dol.) 70. Manufacturing and trade inventories, 1972 dollars (bit. dol) 65. Book value of m ; of finished goods rers' inventories dol.) 77, Ratio, constant-dollar inventon i and trade (ratio) iLg,Lg,Lg 78, Stocks of materials and supplies on manufacturing (bil. dol.) ' "" 1956 57 58 59 60 61 62 S3 64 65 66 67 68 69 70 71 72 73 74 75 76 Current data for these series are shown on page 68. KCII OCTOBER 1983 27 CYCLICAL INDICATORS B I CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued Chart B6. Prices, Costs, and Profits Aug. Apr. P T Nov. P Dec. Ncw. P T Apr. Feb. P T I Sensitive Commodity prices] Ji || Mar. T 93, c h a n g e j n proaucer prices for 28 sensitive materials (percent; MCD moving avg.—6-term) pr-fc Jan. July July F T P Nov. T r-.- 99. Change in sensitive materials prfets (percent; moving <tvg.™4-tefm1) 23. Spot market prices, raw industrials2 (index: 1967 = 100) A 19. 18. Stock Drices. 500 common stodts iindex: 194143 Corporate profits after taxes, 1972 dollars, Q (ann, rate, bil. <tol.) 16. Corporate profits after taxes, current dollars, Q (ann. rate, bil. doL) \T\Xi JL/LAJI. . ©1 62 63 64 69 66 67 70 .:. : 71 . !. : . 72 73 JiiUUl 74 75 76 77 78 79 80 81 82 1983 'This is a weigh tod 4-term moving average (with weights 1,2,2,1) placed on the terminal month of the span. ^Beginning with data for June 1981, this is a copyrighted series used by permission; it may not be reproduced without written permission from Commodity Research Bureau, Inc. Current data for these series are shown on page 69. 28 OCTOBER 1983 IU B CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued Chart B6. Prices, Costs, and Profits—Continued Aug. Apr. P T Apr. Feb. ? 1 Jan. July P T July P Nov. T [ Profits and Profit Margins—Con. 80. Corporate profits after taxes with IVA and CCAdj, 1972 dollars, Q (ann. rate, biL dok) 79. Corporate profits after taxes with IVA and CCAdj, current dollars, Q (ann. rate, bit. dol.) •4 20- 81. Ratio, corporate profits (after taxes| with inventory valuation arid 22. Ratio, corporate! profits (after taxes) to total corporate domestic of salesi all manufacturing corporations, ( I (cents) 1 \ ii 26. Ratio, price to unit labor cost, nonfarm business sector, : -A Q(index: 1977-100) |L,L,I•1 , \ AS* ]„ ]( V 35. Net cash flow, corporate, in 1972 d c t a s J l (ann. rate, bil. dol.) 34. Net cash flow, corporate, in current dollars, Q (ann. rate, bill' dol.) 19S6 57 Current data for these series are shown on pages 69 and 70. OCTOBER 1983 29 CYCLICAL INDICATORS CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued Chart B6. Prices, Costs, and Profits—Continued Aug. Apr. P T I Umt Labor Costs ayj 63. Unit labor cost, private business M i r , Q (indek: 19)7== 100) Labor cost (Current dollars) per unit of gross dot^stic product (1972 dollars), nonfinancial corporations, Q (doi*fs) 62. Labor cost per unit of output, !imanufactujjH- (index: 1 9 b / = l W ) " 64. Compensation of employees as a percent of ittlfenal income, Q (percent) 19S6 W 58 59 00 61 62 63 64 65 66 67 68 69 70 71 72 73 74 75 78 77 78 79 80 81 82 1983 Current dJta far these series are shown on page 70. 30 OCTOBER 1983 BCII CYCLICAL INDICATORS B I CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued Chart B7. Money and Credit Aug. Apr. P T Apr. Feb. P T Nov. P Dec. Nov. P T Mar. I 85. Change in money supply M l (percent; MCD moving avg.—6-term) , Change in money supply M2 (percent; MCD moving avg.—6-term) JLC,U| S i\ 1041 Change irt total liquid assets (percent; moving avg.—4-term 1 ) 10$. Money supply—Ml—in 1972 dollars (bil. dol.) • , i || 1 i 1 '| i 1 , ' 106. Money supply--M2 in 1972 d<>ltar& |L,L,L| (bil. dol.) X \ i| i, 909850- — * 9 750- > y • \ 700- \ 650- j[ ' 809- 7.5- 107, Ratio, 6NP to money supply M l , Q (ratio) CXC 108. Ratio, personal income to money supply M2 (ratio) 19S6 57 58 59 Ut 1983 'This is a weighted 4-term moving average (with weights 1,2,2,1) placed on the terminal month of the span. Current data for these series are shown on page 7 1 . IMJI OCTOBER 1983 31 eYGUOIL INDICATORS CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued Chart B7. Money and Credit—Continued Aug. Apr. P T Dec. Nov. Ploy. Mar, P T P T Jsf:i iuly P T July Kw. P T 33. Change in mortgage debt (ann. rate, bit. dol.) 2 112. Change in business loans (ann. rate, bit. dol.; MCD moving avg.—6-term) 113. Change in consumer installment credit (ann. rate, bil. dol.) 111. Change in credit outstanding—business and consumer borrowing (ann. rate, percent) t 110. Total private borrowing, Q (ann; 81 82 IS83 Current duta for these series are shown on pages 71 and 72. 32 OCTOBER 1983 CYCLICAL INDICATORS B I CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued Chart B7. Money and Credit—Continued Aug. Apr. P T Nov. P Mar. T Jan. July July F T P Nov. T [Credit Difficulties! 14. 39. Current liabilities of business failures (mil. dol.— inverted scale; MCD moving avg.—6-term) Delinquency rate, 30 days and over] (percent—inverted scale) 93. 94. Free reserves (bil. dpi.™inverted scale) Member bank borrowing from the Federal Reserve (bil. dol.) Current data for these series are shown on page 72. KM) OCTOBER 1983 33 CYCLICAL INDICATORS CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued Chart B7. Money and Credit—Continued Apr. Feb. llntartet Rates 1 119. Federal funds rate (percent) 116. Corporate bond fields (percent) 4 * * 115. Treasury bond yields (p«fcent) 118. Secondary market ytekh on FHA mortgage (percent) 117, Municipal bond|-|kMt (percent) JLJUUI., 1SS6 07 38 5S gO il 62 S3 64 • .: 71 i ' L I L J U I J U L : '••'•.; 72 73 74 79 . • • 76 77 81 82 19S3 Current data for these series are shown on pages 72 and 73. 34 OCTOBER 1983 BCD CYCLICAL INDICATORS B I CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued Chart B7. Money and Credit—Continued Jan, July P T July P T llntertet Rates—Con, 67. Bank rates on short-term business 109. Average prime rate charged by banks (percent) r r ^ ~ H , ' 72. Commercial and industrial loans outstanding in current ,, dollars (bl. dol.) lOx. Commercial and industrial loans outstanding in 1972 dollars ! Ratio, consumer installment credit to personal income (percent) 1956 57 58 59 60 61 62 63 64 65 66 67 68 69 70 71 72 73 74 75 76 77 78 79 80 81 Current data for these series are shown on page 73. BCD OCTOBER 1983 35 I CYCLICAL INDICATORS DIFFUSION INDEXES AND RATES OF CHANGE Chart C l . Diffusion Indexes Aug. Apr. P T J6(. Apr. Feb. FT N-V Nov. Mar. T P I ten, July P 950. Twelve leading indicator components (6-mo. span—., l*mo. s p a n — ) I July Nov. P I I Percent rising | 100-1 so 0 951. Four roughly coincident indicator components (6-mo. span—-, l*mo. span—-) 100 952. Six lagging indicator components 100 50- 961. Average workweek, production workers, manufacturing— 20 industries (9-mo. span-^*, 1-mo. s p a n — ) 100 962,, Initial claims, State unemployment insurance—51 areas (percent declining; 9-mo. s p a n — , 1-mo. span——) 100 - i 50* 963, Employees on private nonagricultural payrolls—172-186 industries (6-m6. s p i n — , 1-mo, span—-) J §8 S§ i© 61 62 81 82 1983 Current duta far these series are shown on page 74. 36 OCTOBER 1983 CYCLICAL INDICATORS C I DIFFUSION INDEXES AND RATES OF CHANGE—Continued Chart C l . Diffusion Indexes—Continued Aug. Apr. P T Dec. Uo\i. P T hpr. Feb. P T Nov. Jan. July P T Mar. T July P Nov. T [Percent tog| 964. New orders, durable goods industries—34-35 industries (9-mo. s p a n ^ t t-mo. span—-) so- 96b. Newly approved capital appropriations, deflated—17 industries (4-Q moving avg.**«, 1-Q span ) 90705030 J 966, Industrial production—24 industries (6-mo. s p a n — , 1-mo. s p a n — ) 100-1 50- Spot market prices, raw industrials—13 industrial materials (9-mo. span—*, 1-mo. s p a n - r - ) 100- §0- 0- 968- Stock prices, 500 common stocks—49-82 ftrdustries (9-mo. $part*-^i-mo. span—1~ 100- 50- ! i i ! i1 ! I 960. Hetprofits, manufacturing—about 600 companies1 (4•Q: span) 90- '• ^ _ w | r A 70- '•"V 50- JLflAJUL. 1956 57 58 §9 60 61 63 ©4 @@ S0 70 71 It 'This is a copyrighted series used by permission; it may not be reproduced without written permission from Dun & Bradstreet, Inc. Current data for these series are shown on page 75. BCD OCTOBER 1983 37 CYCLICAL INDICATORS DIFFUSION INDEXES AND RATES OF CHANGE—Continued Chart C l . Diffusion Indexes—Continued Nov. P - Jan, July P T Mar. 1 No\ T July p Mar. T P Jan. JyJy P T *uly P Nov T r Actual *• Anticipated • • i * Percent ritinf | II Actual *» Anticipated - l III •*•• Percent rising 970, Business expenditures for new plant and equipment—22 industries (1-Q span) <•) Actual expenditures 1 100- 974. Number «l employees, manufacturing and trade (4-Q 5pm) 1 701 i (b) Later anticipations 975. Level of inventories, manufacturing and tilde i J 70* 60- * 5049- 971. ftew orders, manufacturing (4-Q span) 1 976. SdiRg prices, manufacturing (4-Q jpm) 1 100- A 90807060- 972, Htt profits, manufacturing and trade (4-Q span) 1 977. Sefej prices, wholesale trade (4-Qspan)^ 100* \ VJ"'* :• ,*« 80 « 7060* 973. H i t $alest manufacturing and trad* (4-Q 978. Seifcif prices, retail trade (4-Q span} 1 100- S • f*i/ W J) 90" 8070 « i ii 60 J 1971 72 73 74 7© 77 78 79 81 82 1983 1971 72 73 74 7§ 76 77 78 70 80 81 %t 1983 'This is a copyrighted series used by permission; it may not be reproduced without written permission from Dun & Bradstreet, Inc. Dun & Bradstreet diffusion indexes are based on surveys of about 1,400 buitinests executives. Current data for these series are shown on page 76. 38 OCTOBER 1983 KCII CYCLICAL INDICATORS C I DIFFUSION INDEXES AND RATES OF CHANGE—Continued Chart C3. Rates of Change Aug. Apr. Apr. feb. P T P T i. July F T July P Nov. T "T 1-month spans 3-month spans Percent change at armual rate 910c. Composite index of 1 920c. Composite index of 4 roughly coincident indicators 930c. Composite index of 6 tagging indicators 50c. GNP in constant (1972) dollks (1-Q span) 47c. Index of industrial 48c. Employee-hours in nonagricultural eitsfefchments 51c* Personal income less transfer payments in 1972 dollars 1956 57 58 59 6© SI 62 63 $4 65 66 67 68 69 70 71 72 73 74 7S 76 17 78 79 82 1983 NOTE: Data for these percent changes are shown occasionally in appendix C. The "Alphabetical Index—Series Finding Guide" indicates the latest issue in] which the data for each series were published. K C I ) OCTOBER 1983 39 O T H i R IMPORTANT ECONOMIC MEASURES A I NATIONAL INCOME AND PRODUCT Chart Al. GNP and Personal Income 200. 223. GNP in current (Mars, Q (ann. rate, bi. doll) Personal income in current dollars (ann. rate, on. <HH.; 224. Disposable personal income in current dollars, Q (ann, rate, bit. dol.) 50. 213. GNP in 1972 M a r s , Q (ann. rate, b i . dot.) Final sales in 1972 doflars, Q (ann. rate, bil; 6o\.) 225. Disposable personal income in 1972 Q (ann. rate, bit. dol.) 217. Per capita GNP in 1972 dollars, Q (ann. ratet thous. dol.) 227. Per capita disposable personal income in aouars, u ^arw. rate, mous. aoi.) 195S S7 Bi S9 BO 61 S2 S3 64 @S Current data for these series are shown on pages 63 and 80. 40 OCTOBER 1983 NATIONAL INCOME AND PRODUCT—Continued Chart A2. Personal Consumption Expenditures Jan. July July P T P Aug, Apr. P T Urn, T Annual rate, bi lion dollars (current) Personal consumption expenditures 237. Services, Q 236. Nondurable goods, Q 232. Durable goods, Q Annual rate; billion dollars (1972) ;239. Services, Q 238. nondurable goods, Q 233. Durable goods, Q 1056 70 71 72 73 74 75 1983 Current data for these series are shown on pages 80 and 81, BCII OCTOBER 1983 41 OTHER IMPORTANT ECONOMIC MEASURES NATIONAL INCOME AND PRODUCT—Continued Chart A3. Gross Private Domestic Investment Jan j % Aug. Apr, P P T J;% Km. T I [Annual rate, biton dollars {current)] gross private dwriestk; investment— ^-241 Total fixed investmtraMQ 245. Change in business inventories, Q Annual rate, button dollar (1972)1 243, Total Iked investment, Q 30. Change in business inventories, Q 19S© Ul SS S9 g@ 61 62 S3 @4 6S 66 67 70 71 72 73 74 75 7% 80 81 82 1983 Current data for these series are shown on page 8 1 . 42 OCTOBER 1983 OTHER IMPORTANT ECONOMIC MEASURES A I NATIONAL INCOME AND PRODUCT—Continued Chart A4. Government Purchases of Goods and Services Jan. July P T July P Nov. T T Annual rate, billion dollars (current)] rnment purchases of goods and services il , i, 267. State and local governments, Q j| \ 1956 57 58 5© 60 61 62 63 64 65 66 67 68 69 70 71 72 73 74 75 76 78 79 ' JU' 80 _Jl 81 82 1933 Current data for these series are shown on page 8 1 . BCII OCTOBER 1983 43 OTHER IMPORTANT ECONOMIC MEASURES IA I I I III NATIONAL INCOME AND PRODUCT—Continued d Chart A5. Foreign Trade Aug. Apr. Apr. Feb. FT P Jan, J;i!y T T Ju'y Nev. P T Annual rate, billion dollars (current) I 252. Exports of goods and services, Q * 4 | 253. Imports of goods ami services, Q 250. Net exports^ of goods and services, Q [Annual rate, billion dollars (1972)1 256. Exports of goods and services, Q - ^ of goods and services, Q 1996 B7 58 §9 SO Si 62 71 It 73 74 75 7© 77 78 79 80 81 B2 1083 Current data for these series are shown on page 82 44 OCTOBER 1983 IU II . OTHER IMPORTANT El A I NATIONAL INCOME AND PRODUCT—Continued Chart A6. National Income and Its Components Aug. Apr. P T Apr. Feb. P T Dec. Now. P T Nov. P Jan. July P T Mar. T July P Nov. T Annual rate, billion dollars (current) 3000« 1000 « . Compensation of employees, Q 46® » /T^*^ m 280240- lie** y 286. Corporate profits with inventory valuation and capital consumption adjustments^ 360320 - 146* 120- so- 40- 282. Proprietors' income with inventory valuation and capital consumption adjustments, Q 20- 284. Rental income of persons with capital consumption 'adjustment, Q i ! 10- 1996 97 58 78 79 80 81 82 1983 Current data for these series are shown on page 82. ItCII OCTOBER 1983 45 OTHER IMPORTANT ECONOMIC MEASURES A I NATIONAL INCOME AND PRODUCT—Continued Chart A7. Saving Jan. July T July P New. T Annual rate, bikMi dolars (turret)} ?90. Gross saving (private and wv _ 'I." A . lifil 19S6 57 98 59 6© 61 62 63 64 65 66 67 68 69 70 71 72 73 74 75 7© 77 78 79 80 81 82 1983 Current diita tor these series are shown on pages 82 and 63. 46 OCTOBER 1983 RCII OTHER IMPORTANT ECONOMIC MEASURES IA I NATIONAL INCOME AND PRODUCT—Continued Chart A8. Shares of GNP and National Income Aug. Apr. P T Apr. Feb. P T Dec. Nov. P T — Nov. P Jan. July July F T P Mar T Nov. T -?r~ I Percent of GNP 1 235. Personal consumption expenditures, Q 268. ment purchases State and local .Q 265. Federal Government purchases of goods and services, Q 248. 249. Nonresidential ftxed investnjent, Q Residential fixed investment, Q 247, Change in business inventories, Q 251. Net exporis of goods and services, Q I Percent of National 64. Compensation of employees, Q 283. Proprietors' income with inventory valuation jj and capital consumption adjustments, Q 15- £87* Corporate profit wttt^ inventory valuation and capital consumption adjustments, Q 10- 5- 285. 1956 57 58 §9 Rental income of persons with capital consumption adjustment, Q 60 61 62 63 64 65 66 67 68 69 70 71 72 73 74 79 76 7^ 78 79 SI 82 1983 Current data for these series are shown on page 83. BCII OCTOBER 1983 47 OTHIR IMPORTANT ECONOMIC MEASURES B I PRICES, WAGES, AND PRODUCTIVITY Chart B l . Price Movements Nov. Jan. July July F T P Nov, P Nov. T ^1rt . .. .4 . . a 310c. Implicit drfci deflator. = 10(1 |lndex: Jsn. J;.% P T Mar. T July P Nov. T [Percent change at annual rjrtt] ! V ' GNP (1-Q span) i: 310. Implicit price deflator, GNP, Q 180- y i +1S* III +§« 311c* Fixed weighted price index, gross business product (1-Q span) 311. Fixed-welgMed price index, _^ gross business product, Q Producer prices-^ 14© j! |6'tTKHith spans ] d +30 « 330c. All commodities 9 Index: 1967 - 1 0 0 wm I • Producer prices— i .. - / T 300- 191 2S0« 330, All commodities 218 < ^ , Industrial commodities /A\335c. I 7 \L 200180 J ii :1 II i r i| / ij 335. Industrial commodities ^ in— j - \ 268< 240- :, . ^ j 340' 320 300 28© Vv +19^ +20 - v^ 9 +N8- 1^1 200- ii „ +30- 333c. Capital equipment 334c. Finished consumer go<Kls IB71 72 J3 74 7$ 76 77 78 7§ 1971 72 73 I 1983 Current data for these series are shown on pages 84, 85, and 86. OCTOBER 1983 OTHER IMPOiTAWT ECONOMIC MEASURES PRICES, WAGES, AND PRODUCTIVITY—Continued Chart B l . Price Movements—Continued hug. Apr. P T Apr. feb, P T Dec. Nov. P T Jan July T July P Nov. T Index: 1967-100 Consumer prices- Percent ehange at annual rate 320c. All items,(6-month span) 322c. Food (6-month span) C h a r t B 2 . Wages a n d P r o d u c t i v i t y !' Wages 341. 340. Real average hourly earnings of production workers, private norifarm economy1 Average hourly earnings of production workers, private nonfarm economy (current dollars)1j 346. Real average hourly compensation, all employees, nonfarm business sector, Q verage nouriy compensation, all employees, nonfarm business sector, Q (current dollars) 1950 97 'Adjusted for overtime (in manufacturing only) and interindustry employment shifts and seasonality. Current data for these series are shown on pages 84, 87, and 88. BCJ) OCTOBER 1983 49 OTHER IMPORTANT ECONOMIC MEASURES PRICES, WAGES, AND PRODUCTIVITY—Continued Chart B2. Wages and Productivity—Continued Jan. July P T July P N@v. ; b-momh spans (awt rate) \, \ j t i \ in averagt ftOurly earnings of production workers, private noitfarm economy1— R *! 340c. Cuimit-dollar earnings y compensation, aH employees, 6-month spam (ann. rate) ' • business suitor, Q ' quarter 345c| Current-doWar compensation . Real compensation Negotiated wage ami benefit decisions, all industries— 341. iiFirst year average changes, Q (ami. rate)-*s 349. Average changes over life of i! contract, Q (ann. rate) 358. Output per hour, all persons, nonfarmijbusiness sector, Q . Output per Jmir, ail persons, private busims sector, Q !i i 370c. Change in output per hour, private tetiess sector, Q 19S6 57 60 il 62 63 64 69 6@ €7 @3 S2 1983 69 'Adjustec for overtime (in manufacturing only) and interindustry employment shifts and seasonally. 'One-month percent changes have been multiplied by a constant (12) to make them comparable with the annualized 6-month changes. See page 87 for actual 1-month percent changes. Current data for these series are shown on pages 87 and 88. 50 OCTOBER 1983 OTHER IMPORTANT ECONOMIC MEASURES C LABOR FORCE, EMPLOYMENT, AND UNEMPLOYMENT Chart C l . Civilian Labor Force and Major Components Aug. Apr. P T -)|- - Apr, Feb. P T if " - j f Nov. P Dec. Nov. P T Mar. T I 1 1 n Jan. July P T ii il I ! i it i i July P n-»irr.--'j-.- II j i •)..' j II " i 120110- " .... j 441. )• ^ J ! ! 1 Nov. T " 100 « Civilian labor ford , total (millions) 90- . u ^ 442, Tot^'ewiflfoyed (millions) i j , i 80- i 70 J Labor force participation rates (percent)— 451. 453. Males 20 wears and over Both sexes 16-19 years of age 452. Females 20 years 37J Total unemployed . Females 20 years and over v 446. 447. 448. L: 1956 Number employed part-time for economic reasons (millions) Both sexes \%\% years of age Nunjfe«r unemployed, workm (millions) ' " ^ j . j/s^ f ' ^w T /1 • IL'I. 57 58 59 60 61 62 63 64 65 66 67 68 69 70 71 72 73 74 75 76 SI 82 1983 Current data for these series are shown on page 8 9 . BCD OCTOBER 1983 51 OTHIR IMPORTANT ECONOMIC MEASURES GOVERNMENT ACTIVITIES Chart D l . Receipts and Expenditures Aug. Apr. P Oee. Mow. P T Apr. Feb. T P T [Annual rate, billion dollars (current) 502. Federal GovernmenLeinfinrijtiire^G 501. Federal Government receipts, Q 500. Federal Government surplus or deficit, Q 511. State and local government receipts, Q 512. State and local government expenditures, Q 510. State and local government surplus or deficit, Q S7 UB m SO 61 62 83 64 6B 81 §2 1983 Current data for these series aro shown on page 90. 52 OCTOBER 1983 KCII OTHER IMPORTANT ECONOMIC MEASURES GOVERNMENT ACTIVITIES—Continued Chart D2. Defense Indicators Jan. July P T July P T [Advance Measures of Defense Activity| 517. Defense Department gross obligations incurred (bil. dol.; MCD moving avg.~6-term) , 525. Defense Department military prime contract awards (bil. dol.; MCD moving avg.—6-term) 543. Defense Department gross unpaid obligations outstanding (bil. dol.) 548. 57 58 S9 60 61 62 63 64 65 Manufacturers' new orders, defense products (bil. do!.; MCD moving avg.—6-term) 66 67 68 69 70 71 Current data for these series are shown on page 90. OCTOBER 1983 53 OTHER IMPORTANT ECONOMIC MEASURES GOVERNMENT ACTIVITIES—Continued Chart D2. Defense Indicators—Continued <LtJt.V| 1956 57 53 60 It . 61 62 i3 64 i ' I 65 > 66 ( I i J - 67 68 69 Lfl 70 71 72 73 74 7S Current cata for these series are shown on page 9 1 . 54 OCTOBER 1983 BCD OTHER IMPORTANT ECONOMIC MEASURES GOVERNMENT ACTIVITIES—Continued Chart D2. Defense Indicators—Continued Aug. Apr. P T Jan. July July F T P Mow. T nteffttediate and Final, Measures of Defense Activity—Con 570. Employment in defen Defense Department personnel (millions)— 577. Military, active duty 578. Civilian, direc [National Defense Purchases! 564, Federal Government purchases of goods and defense, Q (ann.rate, bildol.) 565. National defense purchases as a percent Of GNP, Q (percent) 1956 57 58 59 60 61 62 63 64 69 66 67 68 69 70 71 72 73 74 79 76 78 79 80 81 82 1983 Current data for these series are shown on page 9 1 . BCII OCTOBER 1983 55 OTHiR IMPORTANT ECONOMIC MEASURES U.S. INTERNATIONAL TRANSACTIONS Chart E l . Merchandise Trade Aug. Apr. i a t . J:iy Apr, Feb. T F Juty Nov. T 602. Exports, excluding military M shipments (bil. dol.; MCD moving av&-~5-term) 604. Exports of agricu*tural products, total (bil. dol.)! \ 606. Exports of nonelectrical machinery (bjl. doi) 612. General imports (bil. dot.; MCD moving avg.~4-term) 614. Imports of petrolebu and petroleum pdfucts'kbil. i<*-) hk \ yJ 616. Imports of automobiles and $®\\ (Pi; 6bl 19S6 57 SS §9 SO 61 62 I 19S3 Current cata for these series are $hown on page 92. 56 OCTOBER 1983 BOII U.S. INTERNATIONAL TRANSACTIONS—Continued Chart E2. Goods and Services Movements Jan. July July F T P Aug. Apr. P I Nov. T Annual rate, billion dollars I Excess of receipts xcess of payments 667. Balance on goods and services, Q 668i! Exports, Q - ^ » " * 669. Imports, Q Merchandise, adjusted— 622. Merchandise trade balance, Q - * - B 2 0 . ; Imports, Q Investment incbmen651. Income <in U.Sl investmertts . Income on foreign investments in the U.S., Q 79 80 81 32 1933 NOTE: Annual totals are shown for the period prior to 1960. Current data for these series are shown on page 93. OCTOBER 1983 57 OTHER IMPORTANT ECONOMIC MEASURES F I INTERNATIONAL COMPARISONS Chart F l . Industrial Production Aug. Apr. P T Dgc. Hm, P T Apr. Feb. P T Nov. Mar. P T Jan. inly F T July P Nev, 1 Index: 1967 = 100 260M0- Industrial production— 728. Japan - ^ 160- 721. OECD European countries W0- I 1956 57 58 Si 60 61 62 63 64 65 66 67 68 69 70 71 72 73 74 75 Ji 11 83, 82 1983 Current data for these series are shown on page 94. 58 OCTOBER 1983 ItCII OTHER IMPORTANT ECONOMIC MEASURES INTERNATIONAL COMPARISONS—Continued Chart F2. Consumer Prices Nov. Mar. P T Chart F3. Stock Prices Jan, July F | Percent change at annual rate] T July P Nov. Nov. Mar. P T Jan. July T P [6-month spans | Consumer prices- Nov. P T {Index: 1967^1001 Stock prices— 1 July T aooi ! ; -; • 19. United States •: ; 7 : 320c. United States 1 • • ^ ^ A ! ' • / .,.:, , 1 V"",- 180160140120100- i: 1101 ;. 800< 700-j i + 30" 1 748. Japan 738c. Japan " ! |[ J: : :i i ^ iii :; jit/ 600500- "^ tii 400- I +20- HV + 10- 0' 1 ^ !, = i ^ j; ,;! 300- 200-1 ; 745. WestGe 180-1 ! •: ,: .: . .. lfinJ '/ + 20- 140 H 735c. West Germany \ ! V ii ;,i !! i[ j w. :; ) :; ' !' •• : . jjl] ' • ;; : , i: • •• , ; 120 A 100-1 260- •; \ '• •' j t ' [ i •• j i • i _ i: ii •' •: :: •' / 746. Francje 220180140- 10 100§00450400350- 742. United Kingdom L- 300:: • y / x :; • '• ;• 10 250200150- 1/ j 100 J 1971 72 73 74 75 76 77 78 79 80 81 82 1983 1971 72 73 74 75 76 77 78 79 80 81 82 1983 Current data for these series are shown on pages 95 and 96. BCII OCTOBER 1983 59 CYCLICAL INDICATORS A I COMPOSITE INDEXES AND THEIR COMPONENTS COMPOSITE INDEXES Year and month 910. Index of 12 leading indicators (series 1, 5,8, 12, 19, 20, 29, 32, 36, 99, 106, 111) 920. Index of 4 roughly coincident indicators (series 41, 47, 51,57) 930. Index of 6 lagging indicators (series 62,77, 91, 95, 101, 109) (1967-100) (1967-100) (1967-100) 940. Ratio, coincident index to lagging index (1967-100) Leading indicator subgroups 913. Marginal employment adjustments (series 1, 2, 3, 5) (1967 = 100) 914. Capital investment commitments (series 12, 20, 29) 915. Inventory investment and purchasing (series 8, 32, 36, 99) (1967-100) (1967 100) 916. Profitability (series 19, 26, 80) (1967-100) 917. Money and financial flows (series 104, 106, 111) (1967 100) 1981 January February March 142.1 140.4 141.7 146.8 147.2 147.2 121.7 120.7 119.0 120.6 122.0 123.7 94, 94, 94.1 110.7 109.3 109.8 100.5 100.5 100.7 98.2 98.8 99.0 122.2 122.1 122.2 April May Jine 144.6 144.5 143.2 147.1 146.9 147.5 119.0 122.2 122.4 123.6 120, 120, 94, 94. 94.5 110.5 109.3 107.3 101.8 102.5 102.6 98, 98, 98, 123.5 123.2 123.1 August September . . 142 142 139 147.6 147.3 146.5 122. 123. 124. 120 119. 117.5 95.0 93.6 91.4 107.1 107.0 106,3 102 102, 101, 98.2 98.5 96.9 123.3 123,8 122.9 October November . . December . . 136.9 137.0 136.2 144.5 143.0 140.9 125,0 124.5 124.4 115.6 114.9 113.3 90, 90. 89.3 104, 105, 105.1 99.8 98.7 97.8 96.9 97.1 96.2 121.7 122.2 122.2 135.1 135.7 134.7 138.4 139.9 139.2 126.1 125.3 125.1 109.8 111 111 (NA) 104.2 104.2 104.0 96.7 96, 96. 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, 97. 97.6 93.1 93.0 92.4 123.0 122.4 122.2 July August September . . . 136.2 136.1 137.5 136. 135. 134. 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, 92. 93. 122.5 124.5 124.2 October November , . . December , . . 138.6 rl39.4 rl40.9 132.9 rl32.7 132.6 120.2 118.2 116.7 110.6 rll2.3 113.6 rlO4.7 rlQ5.4 rl07.0 98.0 97.0 96.4 95.0 95.5 96.4 122./ 122. S 122.4 January February March . . . . . . rl45.2 rl47.7 rl50.6 134.3 133.5 134.6 115.5 115.6 114.2 116.3 115.5 117.9 rlO6.2 rl07.0 rlO7.2 97.7 99,3 101.4 97.6 98.6 rlOO.5 127.2 129.7 131.2 April . May . . . . . . . Juns rl52.6 rl54.4 rl57.2 135.6 137.9 139.8 113.4 rll0.8 109.5 119.6 H24.5 127.7 rlO7.8 rlO9 101.8 102.2 102.3 rlO2.5 rlO4.6 105.4 130.9 129.7 July August Septemaer . . . rl58. 158. J>3160.2 rl40.7 140.4 E>*142.7 rlO9.8 110.8 rl28.1 rl26.7 E>Pl29.7 rlO2.9 H>rlO4.7 plO4.2 |H)1O6.O plOS.8 (NA) [8>rl33.1 P132.9 (NA) Jily •• 1982 2 Jaiuaiy February March 1983 nio.o E>rll0 109.4 rlO8.3 pl09.0 October November . , . December . . . NOTE: Series are seasonally adjusted except for those, indicated by © , that appear to contain no seasonal movement. Current high values are indicated by [H); for series that move counter to movements in general business activity, current low values are indicated by[H). 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 issie. The " r " indicates revised; " p " , preliminary; "e", estimated; "a", anticipated; and "NA", not available. Graphs of these series are shown on pages 10 and 11. 'See 'New Features and Changes for This Issue" on page iii of the February 1982 issue. ^Includes a substitute value for series 1. See "New Features and Changes for This Issue" on page iii of the March 1982 issue. Excludes series 36 and 111, for which data are not available. ^Excludes series S7, for which data are not available. "Excludes series 77 and 95, for which data are not available. 60 OCTOBER 1983 ito CYCLICAL INDICATORS CYCLICAL INDICATORS BY ECONOMIC PROCESS MAJOR ECONOMIC PROCESS | H Minor Economic Process Timing Class Year and month EMPLOYMENT AND UNEMPLOYMENT 1 L, L I, L, L L.C.L 1. Average workweek of production workers, manufacturing 21. Average weekly overtime hours, production workers, manufacturing (Hours) (Hours) 2. Accession rate, manufacturing (Per 100 employees) L.C.L L.L.L 5. Average weekly initial claims, State unemployment insurance' 3. Layoff rate, manufacturing (Thous.) (Per 100 employees) L,lg,U 4. Quit rate, manufacturing (Per 100 employees) L, Lg.U L, Lg, U U, C, C 60. Rstio, helpwante d advertising to persons unem iloyed 46. Index of help-wanted advertising in newspapers 48. Employeehours in nonagricultural establishments fotio) (1967 = 100) (Ann. rate, bit. hours) _ < | (a) (a) (a) 1981 Comprehensive Employment Job Vacancies Marginal Employment Adjustments January February March 40.3 39.8 39.9 3.0 2.9 2.9 3.5 3.5 3.4 424 410 413 1.4 1.3 1.3 1.4 1.4 1.3 0.474 0.478 0.467 128 129 125 171.56 170.07 170.79 April May June 40.0 40.2 40.0 2.9 3.0 2.9 3.4 3.1 3.4 395 401 405 1.1 1.3 1.3 1.3 1.3 1.4 0.447 0.432 0.448 118 118 121 169.70 170.70 170.94 July August . September 39.9 39.9 39.5 2.9 2.9 2.7 3.4 3.2 2.9 395 421 483 1.0 1.4 1.7 1.5 1.3 1.3 0.466 0.440 0.403 123 119 112 171.19 171.09 167.31 October November December 39.6 39.4 39.2 2.6 2.5 2.4 2.9 3,1 2.7 517 539 551 2.2 2.3 2.2 1.2 1.1 1.1 0.378 0.366 0.346 110 111 109 169.68 168.66 168.58 January February March 37.5 39.5 39.0 2.3 2.5 2.3 (NA) 563 514 566 (NA) (NA) 0.338 0.317 0.289 106 103 96 164.25 168.40 167.74 April May June 39.0 39.1 39.1 2.4 2.3 2.3 566 585 551 0.255 0.249 0.242 88 87 85 167.21 167.61 166.58 July August September 39.1 39.0 38.8 2.3 2.3 2.3 533 605 653 0.228 0.212 0.192 83 78 73 166.05 165.46 165.30 October . . November . . . December 38.9 39.0 39.0 2.3 2.3 2.3 651 616 531 0.195 0.195 0.205 76 78 83 164.29 163.24 164.01 January February March 39.7 39.2 39.5 2.4 2.4 2.6 507 478 479 0.216 0.215 0.217 83 83 83 165.78 163.53 164.44 April May June 40.1 40.0 40.1 2.9 2.7 2.9 470 453 406 0.213 0.231 0.246 81 87 92 166.10 166.94 167.40 40.2 40.3 H>p40,7 3.0 r3.1 H>p3.3 E>380 408 387 0.281 rO.270 P>p0.283 |H>100 r 168.08 r167.28 E>Pl69.44 1982 1983 July August September p99 October November . . . . December 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. a See "New Features and Changes for This Issue" (item 2) on page iii of the February 1982 issue. OCTOBER 1983 61 CYCLICAL INDICATORS B I CYCLICAL INDICATORS BY ECONOMIC PROCESS-Continued MAJOR ECONOMIC PROCESS ^ J Minor Economic Process Comprehensive Employment—Continued Timing Class Year and month EMPLOYMENT AND UNEMPLOYMENT—Contfnued Comprehensive Unemployment U, C, C c, c,c 42. Persons engaged in nonagricultural activities, labor force survey 41. Employees on nonagriculturat payrolls, establishment survey 40. Employees in goodsproducing industries (mining, mfg., construction) 90. Ratio, civilian employment to total population of working age (Thous.) (Thous.) (Thous.) (Percent) I. C, U U, Lg, U t, Lg, I) L, Lg, U 37. Number of persons unemployed, labor force survey 43. Unemployment rate, total 45. Average weekly insured unemployment rate, State programs l 91. Average duration of unemployment (Thous.) (Percent) (Percent) (Weeks) L, Lg, U Lg, Lg, Lg Lg, Lg, Lg 1981 Janunry February March 96,544 96,803 97,148 90,920 90,990 91,030 25,600 25,516 25,579 58.38 58.43 58.58 8,048 8,032 7,967 7.5 7.4 7.3 3.5 3.4 3.4 14.3 14.0 13.9 April 97,487 97,597 97,033 91,128 91,131 91,322 25,530 25,503 25,654 58.80 58.72 58.31 7,860 8,133 8,047 7.2 7.5 7.4 3.3 3.3 3.2 13. 13. 14.1 September . . . 97,428 97,313 96,746 91,484 91,424 91,411 25,720 25,653 25,586 58.44 58.36 57.94 7,854 8,053 8,271 7.2 7.4 7.6 3.2 3.2 3.3 14.0 14.3 13.6 October November . . . December . , . 96,981 96,840 96,458 91,295 91,041 90,730 25,445 25,242 24,992 58.02 57.88 57.51 8,673 9,025 9,389 8.0 8.3 8.6 3.5 3.8 4.1 13.5 13.2 12.9 January February March 96,309 96,328 96,230 90,396 90,417 90,207 24,711 24,670 24,483 57.46 57.41 57.29 9,346 9,669 9,881 8.6 8.8 9.0 4.1 4.1 4.3 13.4 14.0 13.9 April May June 96,128 96,548 96,310 90,024 90,016 89,775 24,307 24,226 24,001 57.17 57.40 57.17 10,256 10,384 10,465 9.3 9.4 9.5 4.5 4.5 4.5 14.3 14.9 16.3 July August September . . . 96,143 96,254 96,180 89,450 89,264 89,235 23,843 23,672 23,530 57.06 57.06 56.92 10,828 10,931 11,315 9.8 9.9 10.2 4.5 4.7 5.0 15, 16, 16.6 October November . . . December . . . 95,763 95,670 95,682 88,938 88,785 88,665 23,287 23,131 23,061 56.65 56.57 56.50 11,576 11,906 12,036 10.5 10.7 10.8 5.2 5.2 5.0 17.1 17,3 18.0 January February March 95,691 95,670 95,729 88,885 88,746 88,814 23,186 23,049 23,030 56.46 56.38 56.36 11,446 11,490 11,381 10.4 10.4 10.3 4.5 4.5 4.4 19.4 19.0 19.1 April May June 96,088 96,190 97,264 89,090 89,421 89,844 23,159 23,347 23,518 56.51 56.52 57.16 11,328 11,192 11,146 10.2 10.1 10.0 4.4 4.1 3.8 19.0 20.4 22.0 97,758 98,074 E> 98,655 r90,152 r89,735 E>p90,468 r23,724 r23,832 0>p23,927 57.39 57.49 H>57.66 10,590 10,699 E>10,423 9.5 9.5 >9.3 3.6 3.4 0>p3.3 21 19 20.2 May Jjne My August 1982 1983 July August September . . . October November . . . December . , . Seo note on page 60. Griiphs of these series are shown on pages 14, 15, 17, and 18. ' exclude Puerto Rico, which is included in figures published by the source agency. 62 OCTOBER 1 9 8 3 CYCLICAL INDICATORS B I CYCLICAL INDICATORS BY ECONOMIC PROCESS-Continued B MAJOR ECONOMIC PROCESS Minor Economic Process PRODUCTION AND INCOME Industrial Production Comprehensive Output and ncome Timing Class c, c, c 50. Gross national product in 1972 dollars Year and month (Ann. rate, bil. dot.) C, C, C C, C,C 52. Constant (1972) dollars 51. Personal income, less transfer payments, in 1972 dollars (Ann. rate, bil. dol.) (Ann, rate, bil. dol.) 53. Wages and salaries in mining, mfg., and construction in 1972 dollars (Ann. rate, bil. dol.) C, C, C Persona income 223. Current dollars (Ann. rate, bil. dol.) c, c, c 47. Index of industrial production, total (1967 = 100) :, c, c C.L.L 73. ndex of industrial production, durable manufactures 74. Index of industrial production, nondurable manufactures (l§67-100) (1967=100) c, c, c 49. Value of goods output in 1972 dollars (Ann. rate, bil. dol.) 1981 January February March I,5l6!l 2,316.9 2,336.5 2,361.4 l,233;0 1,236.2 1,240.9 1,061.3 1,065.0 1,069.1 234.0 230.8 231.5 151.4 151.8 152.1 141.0 140.8 142.1 165.6 166.2 165.3 69U2 April May June l,512!s 2,375.1 2,390.6 2,416.9 1,241.6 1,242.5 1,251.6 1,070.8 1,072.5 1,081.1 231.6 231.3 232.2 151.9 152.7 152.9 142.5 143.5 143.2 165.9 166.4 165.8 692! 3 July August September 1,525!8 2,463.7 2,494.6 2,514.3 1,266.0 l',274.7 1,274.4 1,088.7 1,098.3 1,098.4 231.7 231.0 228.3 153.9 153.6 151.6 143.6 143.4 140.9 167.1 167.3 165.9 703! 2 October November December l,506*.9 2,513.4 2,518.7 2,517.6 1,268.1 1,263.8 1,257.5 1,092.6 1,087.6 1,081.1 227.6 225.3 222.5 149.1 146.3 143.4 137.8 134.4 131.3 2,518.1 2,530.2 2,535.8 1,249.1 1,255.7 1,256.0 1,074.6 1,080.0 1,078.7 223.0 223.8 222.7 140.7 142.9 141.7 127.1 129.3 128.2 155.1 157.8 157.3 • 162.8 160.3 157.4 683 '.7 1982 January February March 1,485*8 ... April May June 1,489*3 2,549.0 2,568.0 2,572.5 1,258.1 1,263.8 1,254.3 1,079.3 1,084.3 1,076.0 221.6 220.2 217.4 140.2 139.2 138.7 126.7 126.1 125.5 156.1 155.0 155.3 664! 6 1,485*.7 2,589.8 2,586.7 2,597.4 1,256.0 1,250.8 1,251.2 1,072.2 1,067.5 1,066.6 215.5 213.3 211.9 138.8 138.4 137.3 125.9 124.9 123.5 155.7 156.9 156.7 66K6 1,480.7 2,617.8 2,633.1 2,645.0 1,253.7 1,259.9 1,264.9 1,065.6 1,068.0 1,072.2 208.9 207.9 208.6 135.7 ' 134.9 135.2 120.3 119.3 119.9 156.2 155.3 155.6 652 ! l January . . February March l,49C)!i 2,652.6 2,650.5 2,670.1 1,264.3 1,262.1 1,269.1 1,075.9 1,072.6 1,078.0 212.3 212.3 213.0 137.4 138.1 140.0 122.5 123.9 126.3 157.4 159.0 160.7 656! 9 April May June l,525."i 2,689.0 2,719.3 2,732.6 1,267.8 1,278.5 1,285.3 1,077.9 1,087.3 1,094.0 214.8 215.7 217.6 142.6 144.4 rl46.4 129.1 131.0 rl33.2 163.3 165.4 rl67.8 681*8 E>pi,554!4 r2,747.4 r2,755.7 H>p2,781.0 rl,285.6 r1,283.5 0>pl,289.9 rl,096.8 ml,096.2 E>pl,102.9 r219.1 r219.8 H>p221.0 rl49.6 rl51.4 (H>pl53.7 rl36.8 rl38.6 |[H>pl41.7 rl70.2 rl72.1 E>pl74.2 i>p7Ol!6 July August September ' October November . . . . . . . . December 668! 1 ... 1983 July , . . August September October November December See note on page 60. Graphs of these series are shown on pages 14, 19, 20, and 40. OCTOBER 1983 63 CYCLICAL INDICATORS B I CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued MAJOR ECONOMIC PROCESS Minor Economic Process ;. . Capacity Utilization Timing Class Year and month ^ g | j f | PRODUCTION AND INCOME—Continued LC 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 L.C.U 84. Rate of capacity utilization, materials (Percent) L.L.L L,L,L I.L.L L, Lg, U 7. Constant (1972) dollars 8. New orders for consumer goods and materials in 1972 dollars 25. Change in unfilled orders, durable goods industries 96. Manufacturers' unfilled orders, durable goods industries (Bil. dol.) (Bil. dol.) (Bil. dol.) (Bil. dol.) Value of manufacturers' new orders, durable goods industries 6. Current dollars (Bit. dol.) L, L,L I, U 32. Vendor performance, companies receiving slower deliveries ® (Percent reporting) 1981 80.6 82.7 83.17 83.54 83.77 38.52 38.54 38.41 33.31 34.50 34.15 1.13 0.93 -0.30 316.32 317.25 316.95 46 50 52 80. 81.9 87.38 88.31 88.20 39.72 39.92 39.61 34.92 35.29 35.16 .92 ,37 ,86 318.87 321.23 322.09 56 52 48 80.3 82.0 86.94 85.84 83.38 38.83 38.15 36.94 34.45 33.44 32.48 0.84 -0.32 -0.67 322.93 322.61 321.94 46 48 43 75.9 76.2 78.47 79.03 76.11 34.65 34.66 33.34 31.00 30.22 30.50 -3.33 -1.84 -3.43 318.61 316.77 313.34 38 32 30 72.9 73.0 76.70 77.36 78.18 33.54 33.82 34.12 29.18 29.45 30.55 0.23 -1.17 -0.55 313.57 312.40 311.85 32 36 35 April May June 71.6 70.7 76.74 76.35 76.16 33.44 33.15 32.93 29.30 30.77 30.29 310.78 307.45 304.41 31 30 38 July August September , ., 71.0 69.4 75.56 72.96 72.35 32.63 31.49 31.14 30.29 29.60 29.62 301.12 296.83 292.76 37 40 40 69.0 67.1 70.74 71.07 76.18 30.42 30.45 32.57 27.91 28.22 28.25 2.68 291.02 289.08 291.76 44 40 38 Janusry Febrjary March 78 April May June 78 July August Septdmbur ., , 76 October November . . . December . . . 72 1982 January Febnary March it 69 October Novenber . . . December . . , 1983 January February March April , May June July August September . . . 70.7 70,1 82.36 77.45 79.95 35.28 32.93 33.98 31.54 31.52 31.90 H>4.61 -0.32 0.36 296.37 296.05 296.41 41 42 50 73.8 73.5 83.10 84.46 H>90.90 35.30 r35.71 D38.24 32.03 r33.91 34.20 2,86 1.78 4.32 299.27 301.05 305.37 52 52 52 E>P77.3 E>p77.4 88.23 r89.98 P89.50 37.04 r37.68 P37.52 34.86 [H>r35.96 P35.06 2.59 r2.06 p0.74 307.96 r310.02 E>p310.76 52 H>61 60 70 E>p73 (NA) Octobttr November . . . December . . . See ncte on page 60. Graph;; of these series are shown on pages 12, 20, and 21. 64 OCTOBER 1983 ItCII CYCLICAL INDICATORS B I CYCLICAL INDICATORS BY ECONOMIC PROCESS-Continued MAJOR ECONOMIC PROCESS Minor Economic Process Timing Class Formation of Business Enterprises Consumption and Trade c, c, c c, c, c Manufacturing and trade sales and month FIXED CAPITAL INVESTMENT CONSUMPTION, TRADE, ORDERS, AND DELIVERIES—Continued 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.) 59. Constant (1972) dollars (Mil. dol.) L, C, C 55. Personal consumption expenditures, automobiles (Ann. rate, bil. dol.) L,L, L 58. Index of consumer, sentiment 1*66=100) L, Lr L 12. Index of net business formation (1967-100) L, L, L 13. Number of new business incorporations (Number) 1981 January February March 355,151 355,316 356,688 162,132 161,645 161,661 146.9 147.8 148.3 85,355 86,058 86,978 45,547 45,678 45,802 73.2 71.4 66.9 66.5 121.6 120.7 120.8 46,039 48,588 47,972 April May June 358,809 359,239 360,912 162,252 161,594 162,371 148.9 150.7 150.3 86,746 86,939 87,948 45,488 45,328 45,735 66.4 72.4 76.3 73.1 121.9 119.1 117.3 49,413 48,997 49,172 July August September . . . 360,189 360,384 357,454 161,262 160,902 159,032 150.7 149.6 147.8 87,759 88,775 88,562 45,377 45,737 45,300 73.7 74, 77, 73. 118.2 118.7 117.6 49,038 48,631 48,450 October November . . . December . . . 352,092 349,712 345,958 156,389 155,558 153,354 146.5 144.0 142.0 87,231 87,358 87,409 44,506 44,412 44,303 64.0 70.3 62.5 64.3 114.8 117.4 115.2 47,947 49,413 47,556 January February March 340,746 345,687 347,061 150,871 153,723 154,188 139.6 141.8 141.5 86,542 88,049 87,701 43,576 44,492 44,293 70.4 71.0 66.5 62.0 113.2 115.6 113.5 43,330 47,234 46,899 April May June 344,934 353,110 349,742 152,619 155,866 153,409 142.1 143.6 144.8 88,468 90,813 88,603 44,636 45,635 44,103 71.4 65. 67, 65.7 115.2 114.7 112.1 46,876 46,995 45,936 July August September . . . 347,676 343,426 342,882 152,957 151,770 151,184 145.8 144.1 143.4 89,469 89,069 89,897 44,401 44,181 44,526 74.0 65, 65, 69.3 112.4 112.6 110..4 44,525 46,981 45,552 October November . . . December . . . 336,905 338,722 338,391 148,456 149,877 149,959 142.2 141.3 142.0 90,905 92,492 92,459 44,847 45,720 45,749 79.7 73.4 72.1 71.9 111.5 112.9 114.4 45,530 48,474 0)57,507 January February March 345,337 341,490 348,009 153,884 152,079 154,416 143.6 143.4 144.3 92,308 91,164 93,263 45,562 45,108 45,988 80.7 70.4 74.6 80.8 111.4 113.3 112.7 49,999 48,296 48,032 April May June 351,100 363,925 373,572 155,086 160,627 E>164s405 95,449 98,431 99,173 46,812 48,133 E>48,448 91.4 89.1 93.3 92.2 112.0 114.8 E> 116.4 p50,992 r372,434 H>p373,573 (NA) rl62,776 pl62,866 (NA) E>r99,521 r97,955 p99,480 r48,429 r47,482 p48,058 E>p94.2 3.9 89.9 rl!5.5 rll2.4 P115.3 1982 1983 July August September . . . 147, 150, rl52. 155.0 rl56.0 H>pl58.2 48,903 50,211 (NA) October November . . . December . . . See note on page 60, Graphs of these series are shown on pages 12, 14, 22, and 23. OCTOBER 1983 65 CYCLICAL INDICATORS B I CYCLICAL INDICATORS BY ECONOMIC PROCESS-Continued MAJOR ECONOMIC PROCESS Q Mi not Economic Process Business Investment Commitments Timing Class L.L.L L,L, L Contracts and orders for plant and equipment Year and month FIXED CAPITAL INVESTMENT-Continued 10. Current dollars (Bil. dol.) 20. Constant (1972) dollars (Bil. dol.) L.L.L Value of manufacturers' new orders, capital goods industries, nondefense 24. Current dollars (Bil. dol.) L.C, U UL.L 9. Construction contracts for commercial and industrial buildings * 27. Constant (1972) dollars Square feet of floor space (Bil. dol.) (Millions) Square meters of floor space a (Millions) U,Lg ( U C Lg, Lg 11. Newly approved capital appropriations, 1,000 manufacturing corporations 97. Backlog of capital appropriations. 1,000 manufacturing corporations (Bil. dol.) (Bil. dol.) 1981 January February March 28.66 26.59 27.76 14.60 13.63 13.98 25.02 22.70 23.99 13.00 11.92 12.33 83.72 83.86 83.79 7.78 7.79 7.78 27.70 April May June 30.56 28.61 28.96 15.14 14.28 14.47 26.00 24.56 24.62 13.16 12.52 12.58 79.64 84.75 81.01 7.40 7.87 7.53 28! 06 July August September . . , 28.12 28.14 27.98 13.72 14.24 14.26 24.16 24.74 24.36 12.00 12.77 12.70 73.46 78.67 68.12 6.82 7.31 6.33 26.71 October November , . . December . .. 27.09 27.82 25.58 13.60 14.48 12.87 22.66 24.30 21.05 11.68 12.96 10.92 74.26 70.77 70.65 6.90 6.57 6.56 23! 04 26.77 29.36 25.94 13.22 14.44 13.14 21.86 22.41 21.71 11.14 11.45 11.30 58.18 63.29 61.15 5.40 5.88 5.68 25! 18 26.23 23.99 23.41 14.05 11.81 11.36 22.81 20.31 19.93 12.59 10.23 9.86 58.93 53.71 64.87 5.47 4.99 6.03 20! 02 July August September . . . 23.42 22.83 r23.63 11.32 11.24 rll.84 19.93 18.74 20.22 9.84 9.47 10.36 57.80 59.78 55.95 5.37 5.55 5.20 18.44 October November . . . December . .. 23.46 23.63 24.37 11.95 11.52 12.77 20.13 19.98 19.68 10.53 9.94 10.75 54.65 50.69 49.55 5.08 4.71 4.60 21*. 49 23.35 24.21 23.80 11.79 11.76 12.70 20.51 19.18 20.03 10.58 9.62 11.09 66.89 57.77 52.65 6.21 5.37 4.89 20! 18 26.49 H>28.66 27.69 rl3.85 H4.38 12.20 11.63 13.01 54.32 61.20 65.40 5.05 5.69 6.08 p20.96 rl4.48 22.59 22.23 (H>24.29 25.10 r26.76 P27.8O rl2.53 13.43 H>pl4.81 21.58 r23.03 P24.01 11.02 rll.82 E>pl3.18 61.78 65.26 •1)69.20 5.74 6.06 >6.43 (NA) 93.44 96! 18 97! 07 92! 46 1982 January February March April May June 90.20 82.88 74! 15 70.76 1983 January February March Aptil Ma/ June Juljr August September . . . 70! 04 p7l!36 (NA) October November . . . Decemtier . . , Sec note on page 60. Graphs of these $«rie$ are shown on pages 12, 23, and 24. l Tliis 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 OCTOBER 1983 CYCLICAL INDICATORS B I CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued MAJOR ECONOMIC PROCESS Q j Minor Economic Process FIXED CAPITAL INVESTMENT-Continued Residential Construction Commitments and Investment Business Investment Expenditures Timing Class Year and month C Lg, Lg C, U, Lg C Lg, U 61. Business expenditures for new plant and equipment, total 69. Machinery and equipment sales and business construction expenditures 76. Index of industrial production, business equipment (Ann. rate, bil. dol.) (Ann. rate, bil. dol.) (1967=100) C, Lg, C Lg, Lg, Lg C Lg, C Nonresidential fixed investment ir 1972 dollars 87. Structures 86. Total (Ann. rate, bil. dol.) (Ann. rate, bil. dol.) 88. Producers' durable equipment (Ann. rate, bil. dol.) ,L,L L, L, 1 28. Yew priva te housing unit! started, total 1 nn. rate, nous.) 29. Index of new private housing units authorized by local building permits (1967=100) L, I , L 89. Residential fixed investment, total, in 1972 dollars (Ann. rate, bil. dol.) 1981 311.95 333.32 331.22 343.78 177.7 177.5 179.3 170.9 50.1 120.8 1,588 1,279 1,305 98.6 96.8 95.6 48.8 316.42 346.11 345.55 353.96 181.0 182.0 183.6 173.4 51.6 121.7 1,332 1,150 1,047 96.1 94.7 78.8 47.3 328!i9 350.15 359.04 360.03 184.8 184.4 182.7 177.6 53*5 123.5 1,035 949 900 75.5 71.8 68.4 43.*1 329.'43 349.75 357.85 353.04 180.5 179.0 179.0 176 .'3 54.*6 12i.*8 866 839 906 59.0 60.4 64.3 39.4 January February March 334.30 344.06 343.89 172.2 171.6 169.0 877 326.95 173.6 ... 54.3 119.3 • •. 911 920 64.6 66.2 71.3 36.3 April May June 321.87 328.44 334.75 332.35 164.9 159.9 156.7 167.1 ... 54.0 1,028 910 71.1 76.8 74.6 37.8 ... 113.i •.• July August September 313.76 326.06 316.23 320.13 154.9 153.9 150.5 163.3 53.0 116.3 1,185 1,046 1,134 86.0 75.0 83.1 36.5 303.18 308.63 310.31 310.02 147.1 146.4 148.1 160.5 52.2 108.3 1,142 1,361 1,280 93.2 99.1 107.1 40.6 January February March 293.03 307.70 300.14 314.18 146.6 142.7 143.7 159.9 50.3 109.6 1,694 1,784 1,605 116.9 119.5 118.5 45.5 April May June 293.* 46 312.41 305.68 146.9 147.7 rl50.2 163.0 48-3 114.7 1,506 1,807 1,736 124.1 132.1 142.2 52.6 E>pll9.0 rl,804 [IH>rl,909 1 pi,652 E>143.9 p49.7 January February March ....... April May June July August September . ... .. . October December 1982 ... October November December . . ... 911 1983 B>332.43 July August September a313.04 October November December a326.*73 r318.94 p321.07 (NA) rl53.0 rl54.8 E>Pl58.4 * *** E>Pl68.7 133.4 121.6 (H>p56.9 See note on page 60. Graphs of these series are shown on pages 13, 24, and 25. OCTOBER 1983 67 CYCLICAL INDICATORS 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 I, 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 (Ann. rate, bil. do!.) Monthly data (Ann. rate, bil. dot.) Smoothed data 1 (Ann. rate, bil. dol.) (Ann. rate, bil. dol.) L L, L 38. Change in stocks of materials and supplies on hand and on order, mfg. (Bil. dol.) Lg, Lg, Lg Lg, Lg, Lg Manufacturing and trade inventories 71. Current dollars (Bil. dol.) 70. Constant (1972) dollars {Bil. dol,) Lg, Lg, Lg Lg, Lg, Lg L, Lg, Lg 65. Manufacturers' inventories of finished goods, book value 77. Ratio, constantdollar inventories to sales, mfg. and trade 78. Stocks of materials and supplies on hand and on order, mfg. (Bil. dol.) (Ratio) (Bil. dol.) 1981 January February Maich 3.0 -12.56 17.52 -8.77 -5.23 -3.72 -0.75 38.6 61.4 20.7 April May Junt! 8.9 -5.57 25.49 1.01 -0.10 2.39 5.35 July Augjst September . . . 16.1 4.67 4.52 11.65 October November . . . Decomber , . . 6.0 1.36 0.32 -0.38 496.10 501.21 502.94 263.85 265.04 264.56 79.89 81.01 82.63 23. 44, 37. 1.26 1.66 1.27 504.87 508,56 511.70 264.42 266,30 266.20 82.96 84.65 85.30 223.77 225.42 226.70 8.68 6.90 5.17 27.6 53.8 46.9 ,05 ,10 0.75 514.00 518.48 522.39 266.72 267.72 269.30 85.50 87.08 88.30 1.69 227.75 226.65 227,40 -9.35 2.18 -20.83 4.61 1.88 -3.92 21.3 35.9 -12.1 -1.05 524.17 527.16 526.15 269.65 270.78 269,42 89.34 90.00 89.55 ,72 ,74 1.76 224.39 222,61 221.56 -10.2 -26.62 -23.18 -10.81 -12.21 -19.32 -21.87 -30.1 -28.3 -10.2 -1.87 -2.82 -1.88 523.65 521.29 520.44 267.83 266.93 266.28 89.14 89.78 89.90 1.78 1.74 1.73 219.69 216.87 214.99 April May June -3.4 -4.87 -24.35 -7.56 -16.58 -13.15 -12.80 35.2 -51.0 23.1 -2.08 -2.03 -3.18 523.37 519.12 521.04 267.04 265.27 265.88 89.19 88.32 87.56 ,75 ,70 .73 212.91 210.88 207.70 July August September . . . -1.3 0.37 -16.70 -1.50 -11.39 -9.24 -6.95 1.3 1.3 -3.1 -1.57 -2.12 -2.45 521.14 521.26 521.00 266.21 265.79 266.01 88.22 88.30 87.79 1.74 1.75 1.76 206.13 204.01 201.56 October November . . . December . , . -22.7 -20.08 -38.14 -11.29 -9.35 -16.33 -21.54 -14.4 -70.9 -23.4 -1.94 -1.85 -1.69 519.80 513.89 511.94 264.90 262.12 261.21 87.61 86.40 85.07 1.78 1.75 1.74 199.62 197.77 196.07 -15.4 -16.13 6.86 -15.96 -22.51 -14.35 -7.63 -52.7 1.4 -53.3 0.79 1.00 0.71 507.55 507.66 503.22 259.22 259.42 257.57 83.78 83.29 82.41 1.68 ,71 ,67 196.86 197.87 198.57 -5.4 -0.88 rl2.79 r-1.92 -5.87 r-2.34 r0.99 18.9 10.3 -1.6 0.13 1,39 1.92 504.80 505.66 505.52 257.22 257.55 257.05 82.04 82.12 81.93 1.66 1.60 1.56 198.70 200.09 202.02 rl3.87 r5.79 E>pl2.63 (NA) 2.23 .40 (NA) r505.83 E>p512.07 (NA) r256.93 p259.10 (NA) 82.49 82.60 (NA) rl.58 pi. 59 (NA) 204.25 (g>p207.64 (NA) 1.63 1.64 1.64 222.56 222.88 222.50 1982 January February March 1983 January February March April May June July Augusit September . . . H>p4.8 Octoter Novembe* . . . December . . . See note on page 60. Graphs of these series are shown on pages 13, 15, 26, and 27. l This scries is a weighted 4-term moving average (with weights 1,2,2,1) placed on the terminal month of the span. OCTOBER 1983 CYCLICAL INDICATORS CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued MAJOR ECONOMIC PROCESS PRICES, COSTS, AND PROFITS Minor Economic Process Timing Class Year and month Stock Prices Sensitive Commodity Prices L, L, L 98. Change in producer prices for 28 sensitive materials (Percent) L, L, L U.L.L 23. Index of spot market prices, raw industrials l (1967 = 100) L, L, L 99. Change in sensitive materials prices Monthly data (Percent) Smoothed data 2 (Percent) 19. Index of stock prices, 500 common stocks ® (1941-43 = 10) (fits and Profit Margins L, t, L L. L,L Corporate profits after taxes 16. Current dollars (Ann. rate, bil. dot.) 18. Constant (1972) dollar (Ann. rate, bil. dol.) L.C.L UC, 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.) . L, Lt L 22. Ratio, profits (after taxes) to total corporate domestic income (Percent) 1981 January February March -1.81 -2.50 0.64 291.6 284.2 289.8 -1.60 -2.08 0.92 0.16 -0.80 -1.15 132.97 128.40 133.19 152.2 79. 103.1 53.8 9.0 0.94 0.10 0.30 293.0 288.9 282.9 0.83 -0.37 -0.45 -0.52 0.17 0.23 134.43 131.73 132.28 138. 6 70. 104.6 53.5 8.1 July August September . . . 286, 289, 283.0 -0.25 -0.41 -1.91 -0.18 -0.36 -0.61 129.13 129.63 118.27 14416 72.C 113.8 57.2 8.1 October November . . . December . , . -1.14 -1.88 -1.05 -1.00 -1.40 -1.50 119.80 122.92 123.79 14L7 69.4 116.5 57.4 7.7 -0.72 277, 270, 264.2 January February March 0.87 -1.40 -0.22 263.4 261.0 254.5 0.35 -0.97 -0.89 -1.11 -0.71 -0.53 117.28 114.50 110.84 1129 55. 101,7 49.9 6.2 April May June -0.76 0.11 0.29 247.4 245.5 232.2 -1.21 -0.18 -1.45 -0.76 -0.89 -0.85 116,31 116.35 109.70 1174 56. t 105.3 51.1 6.4 July August September . . . -0.33 -2.46 -0.26 237.0 236.2 239.0 0.41 -1.38 0.19 -0.68 -0.61 -0.53 109.38 109.65 122.43 1165 56.E 107.6 51.9 6.4 October November . . . December , . . -0.23 -0.57 0.34 235.5 230.4 227.4 -0.51 -0.93 -0.24 -0.41 -0.49 -0.49 132.66 138.10 139.37 54.; 107.9 51.6 6.0 2.80 2.08 E>2.87 2.07 -0.13 0.94 1.96 144.27 146.80 151.88 108. 2 51. 120.3 57.5 5.8 2.25 232.1 241.3 248.8 April May June -0.42 r2.10 r2.85 253.2 251.5 250.5 0.31 >0.92 rl.35 B>2.04 rl.42 r0.98 157.71 164.10 166.39 E>127.*2 S>60. [H>142.2 |H>67.9 5.7 July August September . . . -0.13 1.20 -1.06 256.0 265.2 (H>267.9 0.56 rl.67 -0.25 0.90 1.07 0.93 166.96 162.42 ED 167.16 (NA) (NA (NA) (NA) (NA) April May June 1982 1983 January February March E>3.28 October November . . . December . . . "271.7 M68.03 See note on page 60, Graphs of these series are shown on pages 13, 28, and 29. beginning with June 1981, this series is based on copyrighted data used by permission; it may not! be reproduced without written permission from Commodity Research Bureau, Inc. 2See footnote 1 on page 68. 3IVAf inventory valuation adjustment; CCAdj, capital consumption adjustment. ''Average for October 1 through 18. 3Average for October 5, 12, and 19. ' OCTOBER 1983 69 CYCLICAL INDICATORS CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued MAJOR ECONOMIC PflOCISS Q Minor l-conomic Process Timing Class Year and month Cash Flows Profits and Profit Margins—Continued U, L r L L.L.L 8 1 Ratio, profits (after taxes) with IVA and CCAdj to corp. domestic income' 15. Profits (after taxes) per dollar of sales, all manufacturing corporations (Percent) (Cents) PRICES, COSTS, AND PROFITS-Continued L, L, L L.L.L Unit Labor Costs and Labor Share Lr L, L 26. Ratio, price Net cash flow, corporate to unit labor cost, nonfarm business sector 34. Current 35. Constant dollars (1972) dollars (1977 = 100) (Ann. rate, bil. dol.) (Ann. rate, bil. dol.) Lg, Lg, Lg Lg, Lg, Lg 63. Index of unit labor cost, private business sector 68. Labor cost per unit of real gross domestic product, nonfinancial corporations (1977-100) (Dollars) Lg, Lg, Lg Lg, Lg, Lg 62. Index of labor cost per unit of output, manufacturing Actual data (1967-100) Actual data as a percent of trend 64. Compensation of employees as a percent of national income (Percent) (Percent) 1981 January . . . February . , March 5.5 4.9 97.8 271.7 138.0 139.0 1.272 202.4 201.8 203.4 100.8 99.8 99.9 74.9 April . May . June. 5.7 5.0 97.7 263.1 130*2 140.7 1.290 205.2 206.2 207.9 100.1 99.9 100.0 74.9 July August , ., September , 6.1 4.8 98.8 273.1 132 .'8 142.3 1.306 207.8 208.7 211.1 99.3 99.0 99.5 73.9 October November .. , December . . . 6.0 4.4 98.1 277.5 132.2 146.4 1.342 215.2 218.1 220.7 100.7 101.4 101.9 74.5 January . , February , March . . . 5.5 3.9 96.8 255.1 121! i 149.9 1.374 226.9 224.2 224.5 104.1 102.2 101.7 75.8 April . May . June , 5.6 3.6 96.5 266.3 124^9 152.9 1.394 226.9 229.1 229.6 102.1 102.4 102.0 75.9 July August September . . . 5.8 3.5 95.9 272 ,#4 126.9 154.7 1.403 228.6 227.7 228.2 100.9 99.9 99.4 76.4 October.. November December 5.6 2.8 95.8 275.5 127*9 155.6 1.419 229.3 230.4 230.7 99.3 99.1 98.6 76.4 6.5 3.3 96,3 278.9 130'. 3 Dl56.*9 ©1.428 H>231.8 231.1 229.6 98,5 97.5 96.3 76.1 r97.6 H>3l6.*6 0)145.9 rl56.2 1.416 228.4 227.6 r226.3 95.2 94.2 r93.1 75.3 (NA) (NA) pl56.5 (NA) r224.3 r223.3 P221.7 91.7 r90.7 P89.5 (NA) 1982 1983 January , , February , March.. , April May June July August September ., . (NA) (NA) October.. November December See note on page 60. Graphs of these series are shown on pates 15, 29, and 30. l IVA> inventory valuation adjustment; CCAdj, capital consumption adjustment. 70 OCTOBER 1983 CYCLICAL INDICATORS CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued MAJOR ECONOMIC PROCESS Q | Minor Economic Process Timing Class . . . Year and month MONEY AND CREDIT Money L, l , L 85. Change in money supply (Ml) ' L, C, U 102. Change in money supply (M2) L, I 104. Change in total liquid assets Monthly data (Percent) (Percent) Smoothed data 1 (Percent) Credit Flows Velocity of Money (Percent) L, L, L L, I, L 105. Money supply (Ml) in 1972 dollars 106. Money supply (M2) in 1972 dollars (Bil. dol.) (Bil. dol.) CCC 107. totio, gross national money supply (Ml)f C Lg, C L t 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.) JRatio) (Ratio) 1981 January February March 0.63 0.77 1.10 0.49 0.85 1.20 1.07 1.05 0.66 0.96 0.95 199.9 199.9 200.5 785.9 786.5 789.7 6.819 1.414 1.414 1.412 55.82 60.60 46.93 April May June 1.22 0.00 0.05 0.87 0.43 0.71 0.46 1.00 1.19 0.82 0.72 0.80 202.1 200.4 198.9 793.2 789.8 789.3 6.776 1.408 1.411 1.417 54.62 42.05 47.48 July August September 0.49 0.44 -0.09 0.86 1.23 0.59 0.97 1.36 0.94 0.97 1.11 1.13 197.6 196.8 194.7 787.1 790.1 786.7 6.938 1.432 1.432 1.435 60.85 34.20 26.76 October November December . . . . -0.05 0.60 1.08 0.69 0.95 0.80 0.93 1.02 0.64 1.08 1.02 0.91 193.9 194.2 195.5 789.3 793.1 796.4 6.945 1.425 1.415 1.403 22.79 21.66 5.14 January . . February March 1.63 0.04 0.13 0.85 0.31 0.72 0.85 0.90 0.92 0.85 0.82 0.84 198.1 198.1 198.4 800.9 802.8 808.9 6.743 1.391 1.393 1.387 22.08 16.39 3.53 April . . . . . . May ... . June ... . 0.16 0.69 0.22 0.34 0.84 0.75 0.65 1.00 1.08 0.86 0.84 0.88 198.2 197.6 195.9 809.7 808.2 805.6 6.797 1.389 1.388 1.380 8.75 3.22 -9.78 July August September 0.22 0.86 1.07 0 88 1.21 0.70 1 13 0.91 0.60 0 99 1.06 0.96 195.2 196.3 198.2 807.9 815.2 820.1 6.739 1.377 1.359 1.355 -5.95 -7.22 -10.42 October November December . . . . 1.19 1.13 0.89 0.66 0.79 0.75 0.90 0.57 0.50 0.84 0.75 0.67 199.7 201.9 204.3 822.1 828.6 837.1 6.566 1.357 1.354 1.350 -48.32 -9.05 -47.32 0.82 1.87 1.32 (H>2.58 2.03 0.93 1)1.17 1.01 0.93 0.70 0.82 H)0.96 205.6 209.9 212.4 857.2 876.4 883.4 6.468 1.320 1.292 1.290 20.60 34.81 -48.94 -0,22 H>2.20 0.85 0.24 1.03 r0.87 rO.62 r0.87 pO.92 rO.94 r0.83 p0.80 210 7 214 1 215.5 880 4 884 7 890.5 6.477 1.296 1.297 1.292 r5.20 r-36.43 r29.38 July August September 0.74 0.23 pO.10 rO.56 r0.50 pO.39 (NA) (NA) 0)216.2 215.8 p215.0 D892.5 P891.9 0>p6.5i2 rl.292 rl.290 pi.296 DP71.86 (NA) October November December 2 0.89 1982 1983 January February . . . . March April May June r891.9 r69.42 0.27 See note on page 60. Graphs of these series are shown on pages 13, 31, and 32. l This series is a weighted 4-term moving average (with weights 1,2,2,1) placed on the terminal month[ of the span. 2 Average for weeks ended October 5 and 12. KCII OCTOBER 1983 71 CYCLICAL INDICATORS CYCLICAL INDICATORS BY ECONOMIC PROCESS-Continued MMOf ECONOMIC PROCESS Q H Minor Economic Process Year and month Credit Difficulties Credit Flows-Continued Timing Class L.L.L L,L,L 112. Net change 113. Net in business change in loans consumer installment credit (Ann. rate, bil. dol.) (Ann. rate, bil. dol.) L, L, L 111. Change in credit outstandingbusiness and consumer borrowing (Ann. rate, percent) MONEY AND CREDIT—Continued L.L.L 110. Total private borrowing (Ann. rate, mil. dol.) L.L.L 14. Current liabilities of business failures ® (Mil. dol.) Bank Reserves L.L.L L, U, U 39. Delinquency 93. Free rate, 30 days reserves ® and over, consumer installment loans (Percent) Interest Rates L.Lg.U 94. Member bank borrowing from the Federal Reserve ® (Mil. dol.) (Mil. dol.) L, Lg, U 119. Federal funds rate ® (Percent) C, Lg, Lg 114. Treasury bill rate ® (Percent) 1981 17.57 4.36 -20.64 19.54 35.65 23.12 7.9 7.9 3.2 307,840 341.36 789.20 485.34 2.42 2.51 2.53 -1,028 -1,023 -719 1,386 1,301 994 19.08 15.93 14.70 14.72 14.90 13.48 46.46 67.79 51.17 25.55 24.02 12.78 10.0 11.2 8.4 368,380 536.88 428.20 408.54 ,40 40 30 -1,136 -1,968 -1,700 1,338 2,220 2,039 15.72 18.52 19.10 13.63 16.30 14.56 52.51 57.31 59.23 19.28 21.67 33.73 9.9 8.3 9.1 303,776 619.46 450.41 752.34 22 .35 28 -1,335 -1,122 -1,035 1,679 1,417 1,451 19.04 17.82 15.87 14.70 15.61 14.95 25.18 42.12 32.60^ 9.41 -4.36 -2.76 3.0 3.6 3.1 242,420 897,94 618.76 626.74 2.37 2.42 2.37 -871 -348 -330 1,149 695 642 15.08 13.31 12.37 13.87 11.27 10.93 65.16 62.47 23.77 21.42 8.66 2.62 8.4 7.9 2.8 245,804 645.14 913.46 836.01 2.48 2.39 2.24 -1,101 -1,414 -1,254 1,526 1,713 1,611 13.22 14.78 14.68 12.41 13.78 12.49 64.22 45.05 31.64 19.62 18.10 20.90 6.6 4.7 3.2 293,064 1,309.33 2,850.45 1,020.25 ,20 ,21 ,16 -1,307 -745 -895 1,581 1,105 1,205 14.94 14.45 14.15 12.82 12.15 12.11 7.98 4.73 22.00 4.70 0.80 10.04 -1.9 1.4 1.2 247,372 1,425.60 (NA) 19 21 ,19 -378 -199 -592 669 510 976 12.59 10.12 10.31 11.91 9.01 8.20 2.71 -63.76 -64.46 4.96 15.65 29.03 -4.1 -5.6 -8.1 265,728 24 23 2.18 -51 -177 -197 455 579 697 9.71 9.20 8.95 7.75 8.04 8.01 1H> 32.20 -5.70 11.00 32.70 8.82 30.98 5.7 1.4 -1.2 277,772 2.24 2.23 2.22 46 -122 -415 500 557 852 8.68 8.51 8.77 7.81 8.13 8.30 -32.62 -49.01 5.65 27.25 32.35 52.87 r-0.1 r-4.5 r5.7 H>p383,004 2.07 2.00 E>1.92 -517 -453 3>-l,234 993 902 E>1,714 8.80 8.63 8.98 8.25 8.19 8.82 r4.58 r8.95 p-5.29 |fl>58.08 40.66 (NA) i>9.7 8.5 (NA) (NA) (NA) -875 r-1,127 p-989 1,382 rl,573 pi,446 9.37 E>9.56 9.45 9.12 E>9.39 9.05 x -532 x l,089 "9.65 See note on page 60. Graphs of these series are shown on pages 13, 32, 33, and 34. ^Average f o r weeks ended October 5, 12, and 19. a Average f o r weeks ended October 6, 1 3 , and 2 0 . 72 OCTOBER 1983 2 8.73 CYCLICAL INDICATORS B CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued i MAJOR ECONOMIC PROCESS Minor Economic Process Timing Class Year and month J MONEY AND CREDIT—Continued Outstanding Debt Interest Rates-Continued Lg, Lg. Lg . C Lg, Lg U, Lg, Lg Lg, Lg, Lg Lg, Lg, Lg 116. Corporate 115. Treasury 117. Municipal 118. Secondary 67. Bank rates bond yields @ bond yields <§) bond yields <u) market yields on short-term on FHA business loans mortgages <§) (Percent) (Percent) (Percent) (Percent) (Percent) Lg, Lg, Lg Lg, Lg, Lg 109. Average prime rate charged by banks ® 66. Consumer installment credit (Percent) (Mil. dol.) Lg, Lg, Lg Lg, Lg, Lg 101. Constant (1972) dollars 95. Ratio, consumer in* stallment credit to personal income (Mil. dol.) (Percent) Commercial and industrial loans outstanding 72. Current dollars (Mil. dol.) Lg, Lg, Lg 1981 January . . . February . . . March 14.01 14.60 14.49 11.65 12.23 12.15 9.68 10.10 10.16 14.23 14.79 15.04 19.91 20.16 19.43 18.05 309.765 312,736 314,663. 211,841 212,204 210,484 88,599 87,869 86,370 13.37 13.38 13.33 April May June 15.00 15.68 14.97 12.62 12.96 12.39 10.62 10.78 10.67 15.91 16.33 16.31 19.99 17.15 19.61 20.03 316,792 318,794 319,859 214,356 220,005 224,269 87,030 89,107 90,614 13.34 13.34 13.23 July August September 15.67 16.34 16.97 13.05 13.61 14.14 11.14 12.26 12.92 16.76 17.96 18.55 20.39 20.50 20.08 321,466 323,272 326,08- 228,645 233,421 238,357 91,936 93,781 95,996 13.05 12.96 12.97 October November December .. 16.96 15.53 15.55 14.13 12.68 12.88 12.83 11.89 12.91 17.43 15.98 16.43 18.45 16.84 15.75 326,86: 326,50' 326,27' 240,455 243,965 246,682 96,724 98,333 99,308 13.00 12.96 12.96 January February March 16.34 16.35 15.72 13.73 13.63 12,98 13.28 12.97 12.82 17.38 17.10 16.41 17.13 15.75 16.56 16.50 328,05!) 328,78L 328,99) 252,112 257,318 259,299 100,644 102,640 103,637 13.03 12.99 12.97 April May June 15.62 15.37 15.96 12.84 12.67 13.32 12.59 11.95 12.45 16.31 16.19 16.73 17.il 16.50 16.50 16.50 330,63\ 332,14> 333,88 * 264,651 268,405 271,042 105,776 107,062 107,856 12.97 12.93 12.98 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 13.50 334,275 334,343 335,180 271,707 272,101 273,934 107,735 107,934 109,007 12.91 12.93 12.90 October November December 12.63 11.89 12.15 10.51 10.18 10.33 9.69 10.06 9.96 12.99 12.82 12.80 11.26 12.52 11.85 11.50 335,593 336,897 339,31(6 274,160 268,847 263,475 108,923 106,643 104,347 12.82 12.79 12.83 January February March 12.04 12.11 11.81 10.37 10.60 10.34 9.50 9.58 9.20 12.87 12.65 12.68 10'.20 11.16 10.98 10.50 342,041 342,75 6 345,398 266,158 265,683 266,600 105,702 105,179 105,626 12.89 12.93 12.93 April 11.58 11 24 11 90 10.19 10,21 10.64 9.05 9.11 9.52 12.50 12.41 12.96 10.31 10.50 10.50 10.50 347,629 350,3<5 354,7'1 263,882 259,798 260,269 104,549 rlO2,646 102,468 12.93 12.88 12.98 July August September 12.46 E> 12.89 12.68 11.10 H>11.42 11.26 9.53 H>9.72 9.58 ©14.23 13.78 13.55 Dili 09 10.50 10.89 11.00 359, sn E>362,9)9 (Nf r260.651 r261,397 p260,956 rlO2,377 rl02,108 plOl.817 rl3.09 E>pl3.17 (NA) October November December M2.48 1982 1983 June . . 2 9.60 .311.00 See note on page 60. Graphs of these series are shown on pages 15, 34, and 35. Average f o r weeks ended October 7, 14, and 2 1 . a Average f o r weeks ended October 6, 1 3 , and 2 0 . 3 Average f o r October 1 through 2 4 . BUI OCTOBER 1983 73 B CYCLICAL INDICATORS DIFFUSION INDEXES AND RATES OF CHANGE H | | 950. Twelve leading indicator components (series 1, 5, 8, 12, 19, 20, 29, 32, 36r 99,106, Year and month DIFFUSION INDEXES 952. Six lagging indicator components (series 62,77, 91, 95,101,109) 951. Four roughly coincident indicator components (series 41, 47, 51, 57) 961. Average workweek of production workers, manufacturing (20 industries) HI) 1-month span 6-month span 8.3 33.3 58.3 75.0 54.2 58.3 100.0 87.5 75.0 100.0 100.0 100.0 100.0 41.7 25.0 45.8 58.3 33.3 50.0 50.0 100.0 75.0 75.0 July Augujit September 33.3 41.7 8.3 8.3 16.7 8.3 Octoter Novembe' December 25.0 50.0 29.2 1-month span 6-month span 1-month span 6-month span 962. Initial claims for State unemployment insurance, week including the 12th* (51 areas) 963. Number of employees on private nonagricultural payrolls (186 industries) 1-month span 9-month span 1-month span 9-month span 1-month span 6-month span 1981 25.0 41.7 16.7 66.7 33.3 75.0 15.0 47.5 95.0 77.5 60.0 86.3 39.2 31.4 76.5 81.4 70.6 57.8 52.4 52.2 68.5 65.3 63.7 50.0 83.3 66.7 41.7 66.7 50.0 66.7 60.0 77.5 22.5 42.5 15.0 10.0 64.7 78.4 17.6 19.6 19.6 5.9 65.6 60.2 58.9 69.4 64.2 58.6 75.0 25.0 37.5 50.0 25.0 12.5 66.7 50.0 83.3 83 3 66.7 66.7 32.5 57.5 15.0 15.0 20.0 5.0 68.6 58.8 9.8 17.6 9.8 27.5 62.6 49,5 42.2 45.7 8.3 8.3 25.0 0.0 0.0 0.0 0.0 0.0 0.0 75.0 66.7 75.0 66.7 66.7 50.0 65.0 17.5 32.5 7.5 0.0 5.0 60.8 49.0 22.5 11.8 5.9 7.8 33.3 29.3 30.9 24.2 25.0 22,0 45.8 58.3, 33.3 41.7 41.7 45.8 0.0 87.5 37.5 0.0 50.0 50,0 75.0 33.3 33.3 41.7 33.3 33.3 5.0 95.0 12.5 5.0 32.5 22.5 96.1 24.5 5.9 11.8 31.4 43.1 28.5 45.4 36.0 20,2 23.7 25.3 April May , June 66.7 37.5 37.5 66.7 50.0 45.8 25.0 75,0 25.0 0.0 0.0 58.3 41.7 58.3 33.3 33.3 33.3 47.5 65.0 80.0 22.5 25.0 85.0 62.7 68.6 19.6 15.7 23.5 9.8 39.0 47.6 32.8 29.8 26.1 26.1 July August September 58.3 58.3 62.5 50.0 41.7 62.5 25.0 0.0 0.0 0.0 33.3 50.0 33.3 33.3 16.7 16.7 45.0 37.5 42.5 32.5 60.0 80.0 67.6 17.6 17.6 72.5 82.4 38.4 37.1 34.1 23.4 19.1 21.2 Octobw November December r75.0 58.3 66.7 83.3 87.5 83.3 0.0 16.7 50.0 75.0 50.0 50.0 75.0 0.0 0.0 8.3 16.7 16.7 57.5 65.0 62.5 62.5 82.5 100.0 88.2 60.8 76.5 71 6 66.7 84.3 29 3 32.0 42,2 26 1 26.6 35.8 January February March . . 75.0 66.7 66.7 100.0 100.0 100.0 100.0 25.0 100.0 100.0 100.0 100.0 33.3 50.0 25.0 16.7 16.7 16.7 85.0 7.5 97.5 90.0 90.0 80.0 68.6 57.8 35.3 98.0 96.1 56.5 45.7 62.4 50.5 63.2 73.4 April May June 83.3 70.8 87.5 100.0 91.7 2 90.0 87.5 100.0 100.0 100.0 100.0 100.0 33.3 8.3 25.0 16.7 16.7 "25.0 92.5 32.5 87.5 r87.5 P90.0 80.4 48.0 78.4 69.1 71.0 64.5 r76.3 r79.3 p80.9 Janutiry . February March April May June 8.3 34.4 29.6 1.982 January February Marcr . . ....... 0.0 0.0 12.5 9.8 1)83 July August September October November December . 2 70.8 58.3 50.0 75.0 50.0 100.0 3 3 58.3 66.7 "25.0 r57.5 52.5 p90.0 70.6 pll.8 (NA) 100.0 p84.3 (NA) r68.5 r67.7 p58.9 ... NOTE: Figures are the percent of series components rising. (Half of the unchanged components are counted as rising.) Data are centered within the spans: 1-month indexes are placed on the 2d month, 6month indexes on the 4th month, and 9-month indexes on the 6th month of the span; 1-quarter indexes are placed on the 1st month of the 2d quarter and 4-quarter indexes on the 2d month of the 3d quarter. Series are seasonally adjusted except for those, indicated by <§>, 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 pate 36. ^Figures; are the percent of components declining. 3 Exclud€is series 36 and 111, for which data are not available. 3 Excludes series 57, for which data are not available. "Excludes series 77 and 95, for which data are not available. 74 OCTOBER 1983 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) 965. Newly approved capital appropriations, deflated (17 manufacturing industries) 1-month span 9-month span 1-quarter span January February March . . . . . . 41.2 50.0 50.0 82.4 79.4 64.7 56 April May June 64.7 52.9 52.9 55. 41, 32.4 53 July August September . . . 35.3 35.3 47.1 32. 26, 14, 33 October November . . . December . . . 36.8 50.0 35.3 29.4 20.6 14.7 30 January February March 38.2 47.1 45.6 23.5 26.5 33.8 53 April May June 47.1 61.8 35.3 26.5 23.5 41.2 24 July August . . . . . . September . . . 50.0 38.2 50.0 23.5 32.4 52.9 53 October November .. . December . . . 38. 70, 41.2 44.1 50.0 64.7 77 January February March 70. 52. 55. 91 85 85 42 April May June 76.5 64. 64. 4-Q moving average 966. Index of industrial production (24 industries) 1-month span 6-month span 967. Index of spot market prices, raw industrials © (13 industrial materials) 1-month span 9-month span 968, Index of stock prices 500 common stock 1-m nth 9-month span 960. Net profits, manufacturing2 ® (about 600 companies) (4-quarter span) 1981 79.2 70.8 58.3 30.8 30.8 65.4 38.5 38.5 46.2 .0 2.5 79.2 67.3 59.6 60 49 83.3 62.5 45.8 54.2 58.3 45.8 69.2 26.9 38.5 46.2 46.2 53.8 1.1 0.2 59,6 44.2 42.3 59 43 56.2 62.5 45.8 31.3 20.8 16.7 61. 61, 42, 61.5 42.3 23.1 L9.2 ;o.4 0.0 46.2 32.7 9.6 49 42 87.5 52.1 12.5 8.3 8.3 10.4 38.5 26.9 46.2 23.1 23.1 15.4 18.7 15.4 157.3 14.4 10.6 34.6 48 35 20.8 8.3 20.8 0.0 12.5 33.3 42.3 34.6 38.5 15.4 30.8 26.9 10.6 34.6 28.8 34.6 42.3 38.5 50 40 33.3 75.0 31.3 41.7 37.5 33.3 30,8 34.6 23.1 26.9 19, 19, 88.5 4.8 11.5 18.0 56.0 79.6 53 52 20.8 41.7 54.2 33.3 25.0 37.5 61.5 53.8 61.5 26.9 15, 23 •2.9 26.5 00.0 87.8 87.8 89.8 58 49 60.4 52.1 41.7 45.8 60 f 4 75.0 46.2 30.8 46.2 50.0 57.7 65.4 98.0 85.7 1.0 89.8 98.0 100.0 66 p58 25.0 33.3 41.7 75.0 58.3 75.0 79.2 87.5 91.7 61.5 76.9 57.7 80.8 61.5 57.7 63. 59, 73. 100.0 98.0 93.9 (NA) (NA) r91.7 95.8 p95.8 65.4 46.2 46.2 80.8 96.2 88.5 81.6 91.8 65.3 89.8 87.5 1982 1983 July August September . . . r82.4 p85.3 47.1 r61.8 p52.9 October November . . . December . . . See note on page 74. Graphs of these series are shown on page 37. p59 (NA) 83, 91. r79. 57.7 73.1 57.7 r87.5 r81.3P95.8 3 3 52.0 30.6 85.4 50.0 , 1 Based on 53 industries through May 1981, on 52 industries through August 1982, on 50 industries in September 1982, on 49 industries through August 1983, and on 48 industries thereafter. Data for component industries are not shown in table C2 but are available from the source. 2 This is a copyrighted series used by permission; it may not be reproduced without written permission from Dun § Bradstreet, Inc. 3 Based on average for October 4, 11, and 18. OCTOBER 1983 75 CYCLICAL INDICATORS C I DIFFUSION INDEXES AND RATES OF CHANGE-Contlnued Q j Year and quarter (1-Q span) 1980 First quarter Secand quarter . . . . Third quarter Fourth quarter . . . . b. Later anticipations c. Early anticipations (1-Q span) (1-Q span) Revised* 2 Revised (4-Q span) (4-Q span) Actual Anticipated Actual Anticipated Actual 973. Net sales, manufacturing and tradel ® 972. Net profits, manufacturing and trade' ® 971. New orders, manufacturing1 ® 970. Business expenditures for new plant and equipment (22 industries) a. Actual expenditures DIFFUSION INDEXES—Continued (4-Q span) (4-Q span) Anticipated (4-Q span) (4-Q span) 72.7 50.0 47.7 59.1 59.1 40.9 34.1 36.4 77.3 54.5 90.9 72.7 74 63 60 60 66 75 57 62 62 54 57 56 66 73 59 61 73 62 68 66 72 80 63 67 70.5 65.9 81.8 40.9 59.1 36.4 56.8 68.2 59.1 59.1 84.1 77.3 68 70 62 62 74 74 76 76 60 66 60 60 70 69 74 72 70 74 71 68 78 76 80 80 50.0 29.5 22.7 25.0 50.0 22.7 31.8 54.5 50.0 54.5 68.2 72.7 52 50 52 56 60 68 64 60 53 52 52 54 61 66 66 60 63 58 57 60 65 70 72 65 36.4 36.4 (NA) 59.1 43.2 90.9 50.0 40.9 68.2 77.3 66 74 (NA) 66 77 82 85 62 66 (NA) 64 73 80 81 66 74 (NA) 68 78 84 86 1981 First quarter Second quarter . . . . Third quarter Fourth quarter 1982 Firs! quarter Second quarter . . . . Third quarter fourth quarter . . . . 1983 First quarter Second quarter . . . . "hird quarter Fourth quarter . . . . Q | Year and quarter 974. Number of employees, manufacturing and trade' ® 975. Level of inventories, manufacturing and trade' ® Actual Actual Anticipated (4-Q span) (4-Q span) Anticipated (4-Q span) (4-Q span) DIFFUSION INDEXES—Continued 976. Selling prices, manufacturing ' ® Anticipated Actual (4-Q span) (4-Q span) 977. Selling prices, wholesale tradel ® 978. Selling prices, retail tradel ® Actual Actual Anticipated (4-Q span) (4-Q span) Anticipated (4-Q span) (4-Q span) 1980 F rst quarter Second quarter . . . . Tltird quarter Fourti quarter . . . . 58 54 53 51 54 56 48 50 67 61 64 60 62 70 53 56 90 88 90 90 87 90 83 86 92 90 92 90 90 92 87 88 92 91 94 90 90 93 84 90 51 53 52 52 56 54 56 55 62 64 62 63 63 61 66 64 88 86 84 82 88 90 89 84 90 88 84 82 90 89 89 84 94 90 86 86 90 90 92 87 48 46 46 46 50 51 51 48 58 52 52 52 54 56 56 50 72 68 63 60 80 76 68 66 72 67 68 61 82 78 72 68 78 75 74 68 82 81 76 72 48 54 (NA) 50 56 59 60 54 59 (NA) 52 58 62 64 61 60 (NA) 65 66 70 69 63 62 (NA) 68 64 68 72 68 72 (NA) 69 67 70 71 1981 First <|uarter Sticond quarter . . . . Third quarter Fourth quarter . . . . 1982 Fi -st quarter Second quarter . . . . Third quarter Fourth quarter . . . . 1983 First quarter Second quarter . . . . Third quarter Fourth quarter . . . . NOTE: Figures are the percent of series components rising. (Half of the unchanged components are counted as rising.) Data are placed at the end of the span. Series are seasonally adjusted except for those, indicated :y<§), that appear to contain no seasonal movement. The "r" indicates revised; "pft, preliminary; and "NA", not available. Graphs of these series are shown on page 38. l T\\is is a copyrighted series used by permission; it may not be reproduced without written permission from Dun £ Bradstroet, Inc. Dun £ Bradstreet diffusion indexes are based on surveys of about 1,400 business executives. 2 Sae "New Features and Changes for This Issue," page iii. 76 OCTOBER 1983 CYCLICAL INDICATORS C I DIFFUSION INDEXES AND RATES OF CHANGE—Continued SELECTED DIFFUSION INDEX COMPONENTS: Basic Da 3 and Directions of Change Diffusion index components 1983 April March February June May August September'3 961. AVERAGE WORKWEEK OF PRODUCTION WORKERS, MANUFACTURING (Average weekly hours) 39.2 39.5 40.1 40.0 40.1 (8) (98) (92) (32) Lumber and wood products Furniture and fixtures 39.5 37.9 39.5 38.3 40.0 39.3 Stone, clay, and glass products. Primary metal industries 40.5 39.1 40.6 39.4 Fabricated metal products Machinery, except electrical 39.6 39.4 Electric and electronic equipment . Transportation equipment Instruments and related products , Miscellaneous manufacturing 40.2 40.3 (88) (58) (52) (90) 39.8 39.2 40.0 39.6 39.9 r39.7 40.1 39.5 40.3 39.8 41.0 39.9 41.2 40.3 41.6 40.3 41.7 40.8 41.7 41.0 42.0 41.1 39.7 39.7 40, 40. 40.4 40.0 40.5 40.4 + + 40.7 r40.7 40.8 40.7 41.5 40.9 39.5 41.2 39.8 41.7 40.4 42.3 40.3 41.6 40.5 41.9 + + 40.8 r42.0 40.7 41.9 41.0 43.4 39.7 37.7 40.0 39.0 40.5 39.0 40.4 38.8 40.1 38.9 + r40.7 r38.8 40.2 39.1 40.4 39.4 Food and kindred products Tobacco manufacturers 39.0 34.1 39.2 36.3 39.6 37.3 39.4 37.4 39.4 r36.8 39.6 37.6 39.8 37.6 Textile mill products Apparel and other textile products 39.0 35.2 39, 35, 40.6 36.2 40.4 36.1 r40.7 35.8 41.0 36.2 41. 36. Paper and allied products... Printing and publishing 41.4 37.1 42.1 37.4 42.4 37.7 42.7 37.4 r42.9 37.7 42.8 37.5 43.1 37.7 Chemicals and allied products . Petroleum and coal products .. 41.0 44.4 41.2 44.9 41.5 43.5 41.6 43.6 41.8 r43.7 41.6 43.4 41.6 43.0 Rubber and miscellaneous plastics products . Leather and leather products 39.7 34.9 40.6 36.0 41.1 37.0 41.1 36.8 41.2 36.f 40.9 r37.4 41.2 37.4 41.8 38.1 84,456 90,90! 3,234 89,978 89,498 (65) (65 (47) (62) (53) 11,006 10,341 + + 11,061 11,033 All manufacturing industries Percent rising of 20 components . + + 40.7 Durable goods industries: Nondurable goods industries: 964. VALUE OF MANUFACTURERS' NEW ORDERS, DURABLE GOODS INDUSTRIES ' (Millions of dollars) All durable goods industries 77,449 Percent rising of 34 components . + (53) Primary metals Fabricated metal products... + Machinery, except electrical . Electrical machinery Transportation equipment Other durable goods industries. 79,951 + 83,101 + (76) (56) + 9,911 9,024 9,183 9,715 + 8,952 9,313 + + 9,963 10,036 + + 10,11 10,13: + + 10,407 9,885 + 12,252 12,398 + + 14,330 12,526 + + 14,806 13,181 + + 14,956 13,849 + - 15,46 13,43 + 14,844 14,713 + - 15,391 13,987 + - 16,653 13,956 - 17,708 16,156 + + 17,953 16,244 + + 19,973 16,876 + 18,377 17,275 + + 23,44 18,31 - 20,495 17,890 + - 21,660 17,593 + 18,527 18,268 NOTE: To facilitate interpretation, the month-to-month directions of change are shown along with the numbers: { + ) = rising, (o) = unchanged] and ( —) = falling. The "r" indicates revised; "p", preliminary; and "NA", not available. *Data are seasonally adjusted by the source agency. 2 Data for most of the diffusion index components are not available for publication, but they are incjluded in the totals and directions of change for the six major industry groups shown here. OCTOBER 1983 77 CYCLICAL INDICATORS C I DIFFUSION INDEXES AND RATES OF CHANGE—Continued SELECTED DIFFUSION INDEX COMPONENTS: Basic Data and Directions of Change-Continued 1983 Diffusion index components February April March June May July r August/ September^ 966. INDEX OF INDUSTRIAL PRODUCTION ! (1967 = 100) 146.4 149.6 151.4 153.7 (92) (79) (88) (81) (96) 135.8 169.6 137.4 173.1 141.3 174.9 144.5 175.6 (NA) (NA) 138.3 83.1 139.2 84.9 141.7 84.8 145*8 + 85.5 + 149.7 87.4 (NA) 89.8 113.9 138.6 115.3 143.1 115.5 146.1 118.5 149,5 122.5 154.2 125.1 157.1 127.6 160.6 173.8 110.1 177.2 111.4 180.1 113.8 182.4 116.6 188.2 119.7 187.9 121.4 193.9 123.6 153.4 133.9 154.0 136.9 155.1 145.0 + + 156.0 + 149.0 + 156.1 + 151.0 + 162.3 153.8 165.8 155.6 Foods Tobacco products . 153.0 108.5 152.0 113.4 153.7 114.8 + 155.6 + 112.9 + 157.7 120.0 159.3 112.9 (NA) (NA) (NA) (NA) Textile mill products Apparel products.... 130.7 (NA) 131.9 (NA) 136.6 (NA) + 139.6 (NA) 141.8 (NA) 146.7 (NA) 149.3 (NA) Paper and products . . . . Printing and publishing . 155.6 144.0 156.3 145.9 163.0 147.4 165.0 151.0 167.3 154.3 168.9 156.2 Chemicals and products Pet'oleum products . . . . 202.3 111.7 205.7 114.8 208.5 + 120.6 + 211.0 123.8 214.7 123.0 217.6 + 220.2 123.1 (NA) 127.2 Rubber and plastics products. Lea iher and products 264.0 61.7 272.0 59.4 283.0 58.7 288.0 59.6 293.8 60.1 296.1 62.3 + + 303.7 62.9 Metat mining . Coa 75.1 136.5 75.2 127.3 79.8 125.3 84.4 125.6 82.9 124.6 82.5 139.9 82.2 141.2 140.2 Oil ind gas extraction Stone and earth minerals . 117.0 115.7 114.4 114.0 112.2 117.7 112.5 122.5 112.6 121.7 114.1 118.9 115.2 121.6 116.7 (NA) 142.6 144.4 (75) (83) 130.2 154.0 128.7 161.0 132.1 167.7 Clay, glass, and stone products. Primary metals 131.8 77.9 135.6 81.2 fabricated metal products Nonelectrical machinery... 110.3 136.2 Electrical machinery Transportation equipment 168.9 109.6 Instruments 138.1 140.0 (58) Lumber and products., Ftrntlure and fixtures . All industrial production Percent rising of 24 components ' + + Durable manufactures: Mi ;cellaneous manufactures . . . + + + + 159.3 + 153.7 + Nondurable manufactures: + 157.0 + 145.7 161.5 + 145.2 + (NA) (NA) (NA) (NA) Mining: NOTE: l o facilitate interpretation, the month-to-month directions of change are shown along with the numbers: ( + ) - rising, (o) - unchanged, and ( - ) - falling. preliminary; and "NA", not available. (NA) The "r" indicates revised; " p " , l Data are seasonally adjusted by the source agency. Whero actual data for separate industries are not available, estimates are used to compute the percent rising. a 78 OCTOBER 1983 ItCII CYCLICAL INDICATORS C I DIFFUSION INDEXES AND RATES OF CHANGE-Continued SELECTED DIFFUSION INDEX COMPONENTS: Basic Data and Q Diffusion index components irections of Change—Continued 1983 February April March May Jul June August September ,October 1 + + 967. INDEX OF SPOT MARKET PRICES RAW INDUSTRIALS » Raw industrials price index (1967 = 100) .... + 241.3 4 (77) Percent rising of 13 components 248.8 + (58) 253.2 - (65) 251.5 - 250.5 + (46) (46) 25 .0 + 265.2 (73) ( 8) 267.9 (58) 271.7 (50) Dollars 0.608 1.340 0.623 1.373 - 0.591 + 1.303 0. 04 1. 32 - 0.592 1.305 - 0.568 1.252 - 0.515 1.135 + 0.128 0.282 0.124 0.273 - 0.118 0.260 - 0. 13 0. 49 + 0.115 0.254 + 0.122 0.269 + 0.150 0.331 85.000 93.696 - 80.500 88.735 69.600 76.720 + 75.500 83.224 + 80.(100 88. 84 + 87.400 96.341 + 88.750 97.829 - 88.667 97.738 + 6.180 13.624 + 6.300 13.889 6.208 13.686 - 6.158 13.576 - 6. in 13.' 70 5.950 13.117 - 5.932 13.078 + 5.947 13.111 0.404 0.891 - 0.384 0.847 + 0.387 0.853 + 0.404 0.891 + 0.405 0.893 + 0. 11 0. 06 + 0.440 0.970 + 0.464 1.023 o 0.464 1.023 + 0.237 0.259 + 0.256 0.280 + 0.260 0.284 - 0.244 0.267 + 0.252 0.276 - 0. 50 0. 73 + 0.258 0.282 + 0.266 0.291 + 0.286 0.313 (pound)., (kilogram).. + 0.633 1.396 0.681 1.501 - 0.677 1.493 + 0.692 1.526 + 0.726 1.601 - 0. 20 1 . 87 + 0.748 1.649 - 0.735 1.620 - 0.728 1.605 Print doth ... (yard)., (meter).. - 0.608 0.665 - 0.594 0.650 - 0.578 0.632 + 0.584 0.639 - 0.576 0.630 + 0. 15 0. 73 0.638 0.698 + 0.686 0.750 + 0.728 0.796 Wool tops ... (pound)., (kilogram).. o 3.300 7.275 - 3.240 7.143 - 3.200 7.055 0 3.200 7.055 o 3.200 7.055 o 3. 00 7. 55 + 3.340 7.363 + 3.550 7.826 o 3.550 7.826 Hides (pound)., (kilogram).. + 0.479 1.056 0.504 1.111 + 0.560 1.235 0.605 1.334 + 0.618 1.362 + 0. 92 1. 26 - 0.674 1.486 - 0.632 1.393 - 0.630 1.389 Rosin (100 pounds).. (100 kilograms).. 0 47.000 103.616 47.000 103.616 0 47.000 103.616 0 47.000 103.616 o 47.000 103.616 o 47. 00 103. 16 0 47.000 103.616 o 47.000 103.616 o 47.000 103.616 Rubber (pound)., (kilogram).. + 0.484 1.067 0.584 1.287 - 0.568 1.252 - 0.555 1.224 + 0. 81 1. 81 0.596 1.314 + 0.599 1.321 + 0.600 1.323 Tallow (pound)., (kilogram).. + 0.148 0.326 0.169 0.373 - 0.164 0.362 - 0.150 0.331 o 0. 50 31 0,186 0.410 - 0.180 0.397 - 0.167 0.368 Copper scrap (pound)., (kilogram).. + 0.591 1.303 - 0.587 1.294 Lead scrap (pound) (kilogram).. - 0.125 0.276 _ 0.123 0.271 (U.S. ton)., (metric ton).. + 72.750 80.192 + Tin ......(pound).. (kilogram).. + 5.948 13.113 Zinc (pound)., (kilogram).. + Burlap (yard)., (meter).. Cotton Steel scrap .. + + 0 + + 0.560 1.235 0.151 0.333 + + - + P. NOTE: To facilitate interpretation, the month-to-month directions of change are shown along with the numbers: ( + ) - rising, (o) = unchanged, nd ( - ) = falling. The "r" indicates revised; "p", preliminary; and "NA", not available. 1 Average for October 4, 11, and 18. 2 Data are not seasonally adjusted. These series are based on copyrighted data used by permission; they may not be reproduced without written permission from Commodity Research Bureau, Inc. Components are converted to metric units by th|e Bureau of Economic Analysis. OCTOBER 1983 79 OTHER IMPORTANT ECONOMIC MEASURES NATIONAL INCOME AND PRODUCT Q | and quarter b. Difference a. Total (Ann. rate, bil. dol.) (Ann. rate, bil, dol.) b. Difference a. Total c. Percent change at annual rate (Ann. rate, bil. dol.) (Ann. rate, bil. dol.) 213. Final sales in 1972 dollars 217. Per capita GNP in 1972 dollars 50. Gross national product in 1972 dollars 200. Gross national product in current dollars Year GNP AND PERSONAL INCOME c. Percent change at annual rate (Ann. rate, dollars) (Ann. rate, bil. dol.) 1980 First quarter S'corcfquarter . . . . Third quarter F o u r t i quarter . . . . 2,572.9 2,578.8 2,639.1 2,736.0 73.0 5.9 60.3 96.9 11.7 0.9 9.7 15.5 1,496.4 1,461.4 1,464.2 1,477.9 5.6 -35.0 2.8 13.7 1.9 -9.0 0.8 3.8 6,600 6,427 6,421 6,464 1,496.9 1,463.6 1,474.4 1,482.5 2,866.6 2,912.5 3,004.9 3,032.2 130.6 45.9 92.4 27.3 20.5 6.6 13.3 3.7 1,510.1 1,512.5 1,525.8 1,506.9 32.2 2.4 13.3 -18.9 9.0 0.7 3.6 -4.9 6,592 6,588 6,629 6,529 1,507.0 1,503.6 1,509.7 1,500.9 3,021.4 3,070.2 3,090.7 3,109.6 -10.8 48.8 20.5 18.9 -1.4 6.6 2.7 2.5 1,485.8 1,489.3 1,485.7 1,480.7 -21.1 3.5 -3.6 -5.0 -5.5 1.0 -1.0 -1.3 6,424 6,425 6,393 6,355 1,495.9 1,492.7 1,487.0 1,503.4 3,171.5 3,272.0 P3.363.3 61.9 100.5 p91.3 8.2 13.3 pll.6 1,490.1 1,525.1 pi,554.4 9.4 35.0 p29.3 2.6 9.7 p7.9 6,382 6,518 p6,627 1,505.5 1,530.5 pi,549.6 1981 First quarter Second quarter . . . . Third quarter Fourth quarter . . . . 1982 First quarter Second quarter . . , . Third quarter Fourth quarter . . . . 11)83 First cjuarter Sticond quarter . . . . Third quarter Fourth quarter . . . . Q [ ^ H GNP AND PERSONAL INCOME-Continued Disposable personal income Year and quarter 224. Current dollars (Ann. rate, bil. dol.) 225. Constant (1972) dollars (Ann. rate, bil. dol.) PERSONAL CONSUMPTION EXPENDITURES 230. Total in current dollars 231. Total in 1972 dollars 232. Durable goods in current dollars (Ann. rate, bil. dol.) (Ann. rate, bil. dol.) (Ann. rate, bil. dol.) 233. Durable goods if\ 1972 dollars 227. Per capita in 1972 dollars (Ann. rate, dollars) (Ann. rate, bil. dol.) 1980 First quarter Second quarter . . . . Third quarter Fourth quarter . . . . 1,771.7 1,789.8 1,846.0 1,908.0 1,025.8 1,012.0 1,019.2 1,029.6 4,524 4,451 4,469 4,503 1,620.5 1,626.4 1,683.4 1,741.9 938.3 919.6 929.4 940.0 220.7 200.8 213.8 223.6 145.2 130.0 135.6 139.0 1,967.6 2,010.4 2,092.0 2,120.5 1,040.7 1,045.6 1,068.1 1,064.3 4,543 4,554 4,640 4,612 1,802.8 1,835.8 1,886.1 1,904.1 953.6 954.7 962.9 955.7 236.9 233.4 243.5 230.8 145.4 140.5 143.9 134.8 2,127.9 2,159.0 2,191.5 2,227.8 1,055.1 1,060.2 1,059.3 1,066.1 4,562 4,574 4,558 4,576 1,938.9 1,972.8 2,008.8 2,046.9 961.4 968.8 971.0 979.6 239.4 242.9 243.4 252.1 138.5 139.5 138.2 143.2 2,255.9 2,301.0 P2.361.5 1,073.8 rl,083.0 pi,100.8 4,599 4,629 p4,693 2,073.0 2,147.0 p2,186.5 986.7 1,010.6 pi,019.Z 258.5 277.7 p284.2 145.8 156.5 P158.6 1981 First quarter Second quarter Third quarter F o r t h quarter . . . . . . . . 1982 First quarter Sei:onc quarter Third quarter Fourth quarter . . . . . . . . 1983 First quarter Second quarter Third quarter Fourth quarter . . . . . . . . NOTE: Series are seasonally adjusted except for those, indicated by <§), that appear to contain no seasonal movement. Series numbers are for identification only and do not reflect series relationships or order. Complete titles and sources are listed at the back of this issue. The "r" indicates revised; "p", preliminary; "e", estimated; "a", anticipated; and "NA", not available. Graphs of these series are shown on pages 40 and 41. OCTOBER 1983 OTHER IMPORTANT ECONOMIC MEASURES A I NATIONAL INCOME AND PRODUCT-Continued IS r Year __ and quarter J Q PERSONAL CONSUMPTION EXPENDITURES—Continued 236. Nondurable goods in current dollars 238. Nondurable goods in 1972 dollars 237. Services in current dollars 239. Services in 1972 dollars (Ann. rate, bil. dol.) (Ann. rate, bil. dol.) (Ann. rate, bil. dol.) (Ann. rate, bil. dol.) 240. Total in current dollars (Ann. rate, bil. dol.) GROSS PRIVUTE DOMESTIC INVESTMENT 241. Total in 1972 dollars (Ann. rate, bil. dol.) 242. Fixed investment, total, in current dollars 243. Fixed investment, total, in 1972 dollars (Ann. rate, bil. dol.) (Ann. rate, bil. dol.) 1980 First Quarter Second quarter Third quarter Fourth quarter . . . . 651.4 658.2 671.9 693.7 358.5 354.2 353.5 356.2 748.3 767.5 797.6 824.6 434.5 435.4 440.3 444.7 422.0 394.3 379.5 411.7 224. 3 202. \ 197. \ 210. 3 423.6 391.3 404.9 426.8 224.8 204.5 207.5 214.7 1981 First quarter Second quarter . . . . Third quarter Fourth quarter . . . . 716.3 730.6 741.1 747.7 359.8 362.7 363.6 363.8 849.6 871.8 901.5 925.6 448.3 451.5 455.5 457.1 455.5 472.1 495.8 476.2 222. 1 229. 236. 3 221. 1 444.7 457.1 462.2 461.8 219.7 220.7 220.2 215.7 First quarter . . . . . . Second quarter . . . . Third quarter Fourth quarter . . . . 749.7 754.7 766.6 773.0 362.6 363.5 364.7 366.0 949.7 975.2 998.9 1,021.8 460.4 465.7 468.2 470.4 422.9 432.5 425.3 377.4 199. 201. 198. 178. 7 4 % " 448.6 443.7 430.2 433.8 209.9 204.9 199.8 201.1 1983 First quarter Second quarter . . . . Third quarter Fourth quarter . . , . 777.1 799.6 p818,7 368.9 374.7 p379.5 1,037.4 1,069.7 pi,083.6 472.0 479.4 p481.1 404.1 450.1 p501.0 190. 3 210. p230. 443.5 464.6 p489.2 205.4 215.6 p225.6 1982 • • GROSS PRIVATE K S l DOMESTIC INVEST.-Con. Vflor Year and quarter 245. Change in business inventories in current dollars (Ann. rate, bil. dol.) 30. Change in business inventories in 1972 dollars (Ann. rate, bil. dol.) H J 260. Total in current dollars (Ann. rate, bil. dol.) 261. Total in 1972 dollars (Ann. rate, bil. dol.) GOVERNMENT PURCHASES OF GOODS Ah0 SERVICES 262. Federal Government in current dollars 263. Federal Government in 1972 dollars (Ann. rate, bil. dol.) (Ann. rate, bil. dol.) 266. State and local government in current dollars (Ann. rate, bil. dol.) 267. State and local government in 1972 dollars (Ann, rate, bil. dol.) 1980 First quarter . . . . . . Second quarter . . . . Third quarter Fourth quarter . . . . -25.4 -15.1 -0.5 -2,1 -10.1 -4.7 517.6 535.5 539.1 559.0 284.0 286.8 284.0 282.5 188.1 199.0 194.5 206.6 105. 109. 106. 104. 329.6 336.5 344.6 352.4 178.1 177.5 177.8 10.9 15.0 33.6 14.3 3.0 8.9 16.1 6.0 576.3 583.5 600.3 622.8 285.6 284.1 286.8 289.6 215.7 220.4 232.4 248.5 107. 107. 111. 114. 360.5 363.2 367.9 374.3 178.3 176.2 175.0 175.1 -25.7 -11.2 -4.9 -56.4 -10.2 -3.4 -1.3 -22.7 629.8 631.6 655.7 679.7 289.4 285.8 292.2 299.7 249.7 244.1 261.7 279.2 114. 110. 116. 124. 380.0 387.5 394.0 400.5 174.9 175.4 175,3 175.2 -39.4 -14.5 pll.8 -15.4 -5.4 p4.8 677.4 683.4 P701.8 292.9 292.1 p296.1 273.5 273.7 p281.2 118. U7-. pll9. 404.0 409.7 p420.6 174.5 174.5 pl76.6 -1.6 3.0 178.3 1981 First quarter Second quarter . . . . Third quarter Fourth quarter . . . . 1982 First quarter Second quarter . . . . • Third quarter Fourth quarter . . . . 1983 First quarter Second quarter . . . . Third quarter Fourth quarter . . . . See note on page 80. Graphs of these series are shown on pages 41, 42, and 43. OCTOBER 1983 81 OTHER IMPORTANT ECONOMIC MEASURES A NATIONAL INCOME AND PRODUCT-Continued Q Year and quarter 255. Constant (1972) dollars (Ann. rate, bil. dol.) (Ann. rate, bil. dol.) (Ann. rate, bil. dol.) (Ann. rate, bil. dol.) (Ann. rate, bil. dol.) 280. Compensation of employees 257. Constant (1972) dollars 253. Current dollars 256. Constant (1972) dollars 252. Current dollars NATIONAL INCOME AND ITS COMPONENTS 220. National income in current dollars Imports of goods and services Exports of goods and services Net exports of goods and services 250. Current dollars • 1 H I FOREIGN TRADE (Ann. rate, bil. dol.) (Ann. rate, bil. dol.) (Ann. rate, bil. dol.) 1980 first quarter Second quarter . . . . Third quarter fourth quarter . . . . 12.8 22.5 37.1 23.3 49.8 52.6 53.4 45.4 335.3 336.8 337.6 345.4 164.4 161.0 156.4 154.7 322.5 314.2 300.5 322.0 114.5 108.4 102.9 109.3 2,076.2 2,072.5 2,117.7 2,200.1 1,555.6 1,574.8 1,604.5 1,663.6 31.9 21.1 22.8 29.2 48.3 44.1 39.8 39.9 367.3 369.2 367.5 371.0 160.6 160.7 159.0 158.7 335.4 348.1 344.7 341.7 112.4 116.6 119.1 118. £ 2,295.8 2,337,2 2,423.4 2,435.6 1,718.8 1,750.9 1,791.7 1,815.6 29.9 33.3 0.9 5.6 35.2 33.4 24.0 23.0 358.4 364.5 346.0 321.6 151.8 154.5 146.4 136.5 328.5 331.2 345.0 316.1 116.6 121.1 122.4 113.5 2,419.7 2,448.9 2,458.9 2,474.0 1,834.2 1,859.9 1,879.5 1,889.0 17.0 -8.5 p-25.9 20.5 12.3 p8.7 326.9 327.1 P339.2 137.3 136.2 pl39.9 309.9 335.6 p365.1 116.8 123.9 pl31.1 2,528.5 2,612.8 (NA) 1,923.7 1,968.7 p2,011.3 1981 First quarter Second quarter . . . . Third quarter Fourth quarter . . . . 1982 First quarter Second quarter . . . . Third quarter fourth quarter 1983 first quarter Second quarter . . . . Third quarter fourth quarter . . . . Q j Year and quarter 282. Proprietors' income with inventory valuation and capital consumption adjustments (Ann. rate, bil. dol.) Q NATIONAL INCOME AND ITS COMPONENTS-Continued 284. Rental income of persons with capital consumption adjustment (Ann. rate, bil. dol.) 286. Corporate profits with inventory valuation and capital consumption adjustments (Ann. rate, bil. dol.) 288. Net interest (Ann. rate, bil. dol.) 290. Gross saving (private and government) (Ann. rate, bil. dol.) SAVING 295. Business saving 292. Personal saving (Ann. rate, bil. dol.) (Ann. rate, bil. dol.) 1980 first quarter Second quarter . . . . Thirc 1 quarter Fourth quarter . . . . 123.1 111.7 116.7 118.3 29.0 30.1 32.5 34.4 187.3 168.3 170.6 175.6 181.2 187.6 193.5 208.2 408.3 400.3 398.7 416.1 314.0 324.1 328.0 334.7 100.8 113.2 112.2 114.6 121.1 118.9 123.5 117.1 37.4 39.9 42.7 45.6 194.7 185.0 197.6 192.0 223.7 242.6 268.0 265.3 461.8 475.8 507.6 490.1 356.6 365.1 381.9 393.8 112.2 120.2 149.7 159.0 111.2 104.9 103.6 116.2 47,4 49,0 50.9 52.3 162.0 166.8 168.5 161.9 265.0 268.3 256.4 254.7 434.4 439.5 397.9 351.3 383.3 393.6 401.9 405.8 130.8 127.1 123.0 120.8 120.6 127.2 pl27.4 54.1 54.8 p53.9 181.8 218.2 (NA) 248.3 243.8 p246.1 398.5 420.6 (NA) 419.7 443.4 (NA) 121.7 91,5 1981 first quarter Second quarter . . . . Third quarter fourth quarter . . . . 1982 first quarter Second quarter . . . . Ihirc quarter f o u r h quarter . . . . 1983 First quarter Second quarter . . . . Third quarter Fourth quarter . . . . Sae note on page 80. Graphs of these series are shown on pages 44, 45, and 46. 82 OCTOBER 1983 pllO.9 OTHER IMPORTANT ECONOMIC MEASURES NATIONAL INCOME AND PRODUCT—Continued Q j SAVING-Continued Year and quarter 298. Government surplus or deficit, total (Ann. rate, biL dol.) Q | 293. Personal saving rate (percent of disposable personal income) (Percent) SHARES OF GNP AND IMATIC NAL INCOME Percent of gross national p) )duct 235. Personal consumption expenditures, total 248. Nonresidential fixed investment (Percent) (Percent) 247. Change in business inventories 249. Residential fixed investment (Percent) (Percent) (Percent) 251. Net exports of goods and services 1980 First quarter Second quarter . . . . Third quarter Fourth quarter . . . . -7.5 -38.1 -43.3 -33.9 5.7 6.3 6.1 6.0 63.0 63.1 63.8 63.7 12.1 11.6 11.7 11.6 4.4 3.6 3.7 4.0 -0.1 -0.6 1.4 0.9 -8.1 -10.6 -25.2 -63.7 5.7 6.0 7.2 7.5 62.9 63.0 62.8 62.8 11.6 11.9 12.0 12.1 3.9 3.8 3.4 3.1 0.4 0.5 1.1 0.5 1.1 0.7 0.8 1.0 -79.7 -81.2 -127.0 -175.3 6.1 5.9 5.6 5.4 64.2 64.3 65.0 65.8 12.0 11.5 11.1 10.8 2.9 3.0 2.8 3.1 -0.9 -0.4 -0.2 -1.8 1.0 1.1 0.0 0.2 -142.9 -114.4 (NA) 5.4 4.0 65.4 65.6 p65.0 10.5 10.3 3.5 3.9 p4,7 pl0.4 p4.2 -1.2 -0.4 p0.4 0.5 -0.3 p-0.8 0.5 0.9 0.1 -1.0 1981 First quarter Second quarter . . . . Third quarter Fourth quarter . . . . 1982 First quarter Second quarter . . . . Third quarter Fourth quarter . . . . 1983 First quarter Second quarter Third quarter Fourth quarter . . . . Q j Year and quarter SHARES OF GNP AND NATIONAL INCOME—Continued Percent of national in cor e Percent of GNP—Continued 265. Federal Government purchases of goods and services (Percent) 268. State and local government purchases of goods and services 64. Compensation of employees (Percent) (Percent) 283. Proprietors' income with IVA and CCAdj' 285. Rental income of persons with CCAdj l 289. Net interest (Percent) (Percent) (Percent) (Percent) 287. Corporate profits with IVA and CCAdj' 1980 First quarter Second quarter . . . . Third quarter Fourth quarter . . . . 74.9 76.0 75.8 75.6 5.4 1.4 1.5 7.4 7.6 12.8 13.0 13.1 12.9 5.5 5.4 7.5 7.6 7.7 8.2 12.6 12.5 12.2 12.3 74.9 74.9 73.9 74.5 8.3 8.0 8.5 9.0 12.6 12.6 12.7 12.9 8.6 8.4 12.7 12.5 pl2.5 7.3 7.7 5.9 8.7 1.5 1.6 9.0 8.1 8.1 8.0 5.3 5.1 5.1 4.8 1.6 1.7 1.8 1,9 8.5 7.9 8.2 7.9 9.7 10.4 11.1 10.9 75.8 75.9 76.4 76.4 4.6 4.3 4.2 4.7 2.0 2.0 2.1 2.1 6.7 6.8 6.9 6.5 11.0 11.0 10.4 10.3 76.1 75.3 (NA) 4.8 4.9 2.1 2.1 (NA) (NA) 7.2 8.4 (NA) 9.8 9.3 (NA) 9.1 9.1 9.5 1981 First quarter . . . Second quarter . . . . Third quarter Fourth quarter . . . . 1982 First quarter Second quarter . . . . Third quarter Fourth quarter . . . . 1983 First quarter . Second quarter . . . . Third quarter Fourth quarter . . . . P8.4 See note on page 80. Graphs of these series are shown on pages 46 and 47. X IVA, inventory valuation adjustment; CCAdj, capital consumption adjustment. IICII OCTOBER 1983 83 OTHER IMPORTANT ECONOMIC MEASURES PRICES, WAGES, AND PRODUCTIVITY PRICE MOVEMENTS Implicit price deflator, gross national product Year and month 310. Index (1972=100) 310c. Change over 1-quarter spans > (Ann. rate, percent) Fixed-weighted price index, gross business product 311. Index (1972 = 100) 311c. Change over 1-quarter spans' (Ann. rate, percent) Consumer prices, food Consumer prices, all items 320. Index ® (1967=100) 322c. Change over 1-month spansl 322c. Change over 6-month spans' (Percent) (Ann. rate, percent) 320c. Change over 1-month spans' 320c. Change over 6-month spansl (Percent) (Ann. rate, percent) (1967-100) 9.9 9.6 9.1 268.9 270.3 272.0 0.4 0.5 0.6 6.9 4.7 3.8 322. Index 1981 January February March 189.8 April May June 192.6 July Auijust September . . , 196.9 October November December 201.2 10.6 197.0 10.6 260.5 263.2 265.1 0.7 0.8 0.8 8.1 266.8 269.0 271.3 0.4 0.9 0.8 10. 10. 10, 272.3 272.4 272.9 0.1 0.0 0.2 4.8 4.9 4.5 9.2 274.4 276.5 279.3 1.1 0.8 1.0 10.5 9.6 8.8 275.3 276.9 278.0 0.9 0,6 0.4 4.8 4.8 4.8 7.2 279.9 280.7 281.5 0.4 0.5 0.4 6.9 5.3 3.1 278.7 278.9 279.4 0.3 0.1 0.2 4.4 4.2 3.5 4.9 282.5 283.4 283.1 0.3 0.1 0.0 2.9 4.0 5.5 281.3 282.6 282.8 0,7 0.5 0.1 3.3 4.7 5.6 4.5 284.3 287.1 290.6 0.2 1.0 1.1 6.1 6.6 6.9 283.3 285.4 287.1 0.2 0.7 0.6 4.5 3.1 3.4 5.8 292.2 292.8 293.3 0.6 0.3 0.1 7.2 5.1 2.3 287.6 286.9 287.5 0.2 »0.2 0.2 3.4 2.0 0.7 3.8 294.1 293.6 292.4 0.4 0.0 -0.3 1.4 0.4 0.5 288, 288, 288.1 0.2 0.0 0.0 0.5 1.0 1.8 0.8 1.9 2.9 288.3 288.3 290.1 0.1 0.0 0.6 2.2 2.8 2.2 3.4 4.7 5.4 291.3 292.2 291.3 0.4 0.3 -0.3 1.9 2.3 1.7 291.0 291.6 292.5 -0.1 0.2 0.3 5.9 200.9 9.4 205.3 9.0 ... ... 208.9 1982 4.3 January February March 203.4 April May June 206.2 Julif August September . . . 208.0 October November December 210.0 218.8 January February March 212.8 220.8 April May June 214.6 223,0 211.4 5.6 ... ... 213.8 3.7 216.8 3.8 1983 July August September . , . October November December p3.4 p216.4 p225.3 P 3.6 293.1 293.2 293.4 4.1 295.5 297.1 298.1 0.6 0.5 0.2 4.1 299.3 300.3 301.8 0.4 0.4 0.5 .., ... See ncte on page 80. Griphs of then stries art shown on pages 48 and 49. Changes are centered within the spans: 1-month changes are placed on the 2d month, 6-month changes are placed on the 4th month, and 1-quarter changes are placed on the 1st month of the 2d quarter. 84 OCTOBER 1983 OTHER IMPORTANT ECONOMIC MEASURES B I PRICES, WAGES, AND PRODUCTIVITY-Contlnued PRICE MOVEMENTS-Continued Producer prices, industrial commodities Producer prices, all commodities Year and month 330. Index © (1967=100) 330c. Change over 6-month spans' ® 330c. Change over 1-month spans' © (Ann. rate, percent) (Percent) 335. Index © (1967 = 100) 335c. Change over 1-month spans4 ® (Percent) Producer prices, crude materials 335c. Change over 6-month spans' © (Ann. rate, percent) 331. Index (1967=100) 331c. Change over 1-month spans l (Percent) 331c. Change over 6-month spans' (Ann. rate, percent) 1981 284.8 287.6 290.3 1.4 1.0 0.9 11.5 11.0 10.2 291.5 295.7 299.6 1.7 1.4 1.3 15.8 15.6 13.3 330.0 332.6 330.6 0.9 0.8 -0.6 5.0 1.9 5.1 , 293.4 294.1 294.8 1.1 0.2 0.2 8.2 6.2 3.8 303.5 304.7 305.1 1.3 0.4 0.1 10.3 7.9 5.3 333.6 332.4 335.5 0.9 -0.4 0.9 3,7 0.2 -1.9 July August September . . . 296.2 296.4 295.7 0.5 0.1 -0.2 1.8 1.0 0.7 306.2 307.2 307.4 0.4 0.3 0.1 3.7 3.0 3.2 336.1 333.0 327.4 0.2 -0.9 -1.7 -6.5 -8.4 -U.8 October November . . December . . 296.1 295.5 295.8 0.1 -0.2 0.1 1.4 1.5 1.6 309.0 309.3 310.0 0.5 0.1 0.2 3.7 2.9 2.4 322.5 318.1 315.1 -1.5 -1.4 -0.9 -9.2 -8.9 -6.3 January February March 298.3 298.6 298.0 0.8 0.1 -0.2 1.3 2.1 2.4 311.8 311.6 311.0 0.6 -0.1 -0.2 0.6 0.2 0.4 320.2 317.9 317.0 1.6 -0.7 -0.3 -1.1 5.3 6.9 April May June 298.0 298.6 299.3 0.0 0.2 0.2 1.4 1.1 0.9 309.9 309.6 310.6 -0.4 -0.1 0.3 0.6 1.0 1.1 320.8 326.4 325.8 1.2 1.7 -0.2 1.2 0.8 -1.0 July August September . . . 300.4 300.2 299.3 0.4 -0.1 -0.3 1.2 1.1 0.9 312.8 313.2 312.7 0.7 0.1 -0.2 2.9 3.5 3.0 322.1 319.1 315.4 -1.1 -0.9 -1.2 -4.0 -5.5 -5.6 October . . . ' . . November . . . December . . . 299.8 300.3 300.7 0.2 0.2 0.1 -0.3 0.5 0.9 314.3 315.0 315.2 0.5 0.2 0.1 0.7 0.4 0.5 314.3 317.3 316.6 -0.3 1.0 -0.2 -3.0 -1.4 2.2 299.9 300.9 300.6 -0.3 0.3 -0.1 0.5 r0.8 1.2 313.9 313.9 313.5 -1.2 r-0.9 0.1 315.8 316.8 318.9 -0.3 0.3 0.7 6.2 r4.3 4.4 300.6 r301 302 0.0 rO.3 0.3 2.2 2.7 3.2 312.4 r313.6 315.4 1.7 2.3 2.4 2.5 6.2 5.8 0.2 0.6 0.1 323.9 r324.1 323.5 319.7 326.5 328.0 1.6 rO.l r-0.2 303. 304 305.3 -0.4 0.0 -0.1 -0.4 0.4 r0.6 0.4 0.3 -0.1 January February March April May June 1982 1983 January February March April May June July August September . . . 316.6 317.5 317.2 -1.2 2.1 0.5 October November . . . December . . . See note on page 80. Graphs off these series are shown on page 48. Changes are centered within the spans: r OCTOBER 1983 1-month changes are placed on the 2d month and 6-month changes are placed on the 4th month. 85 OTHER IMPORTANT ECONOMIC MEASURES B I PRICES, WAGES, AND PRODUCTIVITY-Continued PRICE MOVEMENTS-Continued Year and month 332. Index (1967-100) 332c. Change over 6-month spans' 332c. Change over 1-month spans' (Ann. rate, percent) (Percent) Producer.prices, finished consumer goods Producer prices, capital equipment Producer prices, intermediate materials 333. Index (1967 = 100) 333c. Change over 1-month spans' (Percent) 333c. Change over 6-month spans l (Ann. rate, percent) 334. Index (1967-100) 334c. Change over 1-month spans' (Percent) 334c. Change over 6-month spans' (Ann, rate, percent) 1981 Jiinuary Fsbruary March 297,0 298.3 301.1 1.2 0.4 0.9 11.4 10.6 9.4 253.5 256.1 258.1 1.1 1.0 0.8 10.1 10.5 11.0 262.2 264.8 267.7 0.9 1.0 1.1 10.7 9.7 9.6 April Nay . June 304.2 305.6 307.0 1.0 0.5 0.5 7.3 7.7 5.9 260.2 262. 264. 0.8 0.8 0.7 9.8 8.8 8.1 270.3 270.8 272.1 1.0 0.2 0.5 8.2 6.2 4.9 July August September . . , 307, 309, 309 0.2 0.7 0.1 4.1 3.4 2.6 265, 267, 268, 0.6 0.6 0.5 7.9 7.8 7.3 272.8 272.9 274.2 0.3 0.0 0.5 3.7 3.8 3.6 October November . .. December . . . 310, 310. 311.0 0.1 2.8 0.9 -0.2 270.3 272.3 273.6 0.7 0.7 0.5 7.1 5.6 5.7 275.3 275.9 277.0 0.4 0.2 0.4 3,8 4.0 2.1 Jiinuary February Warch 311.9 311.0 309.6 0.3 -0.3 -0.5 -1.2 -1.3 -0.8 274.9 274.5 276.0 0.5 -0.1 0.5 4.6 4.1 4.4 278.0 278.3 277.0 0.4 0.1 -0.5 1.5 0.7 2.2 April May June 308.4 308.7 309.7 -0.4 0.1 0.3 -1.0 -0.4 0.8 276.5 277.8 279.5 0.2 0.5 0.6 4.1 5.8 4.3 277.3 276.9 280.0 0.1 -0.1 1.1 2.5 3.1 4.4 July August September . . , 310.3 310.3 310.8 0.2 0.0 0.2 1.6 2.0 1.4 280.5 282, 281, 0.4 0.6 -0.1 4.0 3.9 3.5 281.5 282.6 283.0 0.5 0.4 0.1 5.2 6.8 5.1 October November . . . December . . . 310.9 311.7 311.8 0.0 0.3 0.0 -0.3 -1.4 282.0 283.1 284.4 0.0 0.4 0.5 2.4 1.9 2.8 284.4 286.2 287.0 0.5 0.6 0.3 1.1 0.6 -0.6 310.1 309.8 308.6 -0.5 -0.1 -0.4 -2.4 r-2.0 -0.3 283.9 285.0 285.8 -0.2 0.4 0.3 2.6 r2.2 2.0 -1.4 0.1 -0.4 1.5 2.3 -1 8 307.2 r308.6 311.4 -0.5 r0.5 r0.9 1.4 2.7 4.9 285.6 r286.2 287.3 -0.1 rO, rO, 2.7 3.3 2.1 282.3 282.9 284.4 0.0 0.2 0.5 1.1 1.5 3.0 312.2 314.0 316.1 0.3 0.6 0.7 287.7 289.6 288.8 0, 0, -0.3 284.6 285.5 286.4 0.1 0.3 0.3 1982 1983 January February March April May Jtne JUy August September . . . 283. 283, 282, October Navernber , . . Decenber . . . Sfte note on page 80. Graphs of these series are shown on page 48. l Changes are centered within the spans: 1-month changes are placed on the 2d month «and 6-month changes are placed on the 4th month. OCTOBER 1983 OTHER IMPORTANT ECONOMIC MEASURES 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 340. Index (1977=100) 340c. Change over 1-month spans2 (Percent) Current-dollar compensation Real earnings Current-dollar earnings 340c. Change over 6-month spans2 (Ann. rate, percent) 341. Index (1977 = 100) 341c. Change over 1-month spans2 (Percent) 341c. Change over 6-month spans2 (Ann. rate, percent) 345. Index (19J77 = 100) 345c. Change over 1-quarter spans2 345c. Change over 4-quarter spans2 (Ann. rate, percent) (Ann. rate, percent) 1981 January February March 133.8 135.0 135.8 1.0 0.9 0.6 9.4 8.6 8.8 92.9 93.0 93.0 0.2 0.1 0.0 -0.4 -0.7 0.1 139.0 April May June 136.7 137.5 138.2 0.7 0.6 0.5 7.9 8.2 8.5 93.1 92.9 92.7 0.1 -0.3 -0.2 -1.7 -1.5 -2.0 141.4 July August September . . . 139.0 140.4 141.4 0.5 1.0 0.7 7.7 8.1 7.5 92, 92. 92. -0.7 0.2 -0.3 -2.4 -1.1 -1.0 144.7 October November . . , December . . . 141.9 143.0 143.3 0.3 0.8 0.3 8.7 6.8 6.0 92.0 92.4 92.2 -0.1 0.4 -0.1 2.1 1.8 3.3 147.4 January February March . . . . . . 144.9 145.1 145.5 1.1 0.1 0.3 6.5 6.4 6.6 93.1 93.1 93.5 0.9 0.1 0.4 3.9 2.5 1.3 151.0 April May June 146.4 147.5 148.0 0.6 0.7 0.4 5.4 6.3 6.3 93.8 93.5 92.8 0.3 -0.3 -0.7 -0.7 -0.3 -0.9 153.1 July August September . . . 148.8 149.6 150.0 0.5 0.5 0.3 5.9 4.9 5.4 92.8 93.0 93.1 -0.1 0.2 0.2 -1.5 -0.2 2.8 155.7 October"..... November . , . December . , . 150.7 151.1 151.9 0.4 0.3 0.6 5.4 5.1 4.6 93.1 93.4 94.1 -0.1 0.4 0.8 4.2 5.1 4.1 157.9 January February March 152.7 153.4 153.4 0.5 0.4 0.0 4.5 4.7 3.9 94.7 95.3 95.0 0.6 0.7 -0.3 3.8 2.8 1.3 160.6 April May June 154.0 154.6 154.8 0.4 0.4 0.2 r3.3 r2.1 P 3.2 94.8 94.7 94.8 -0.2 -0.1 0.0 r-2.7 p-1.7 155.2 155.0 pl55.9 r0.3 r-0.2 p0.6 r94.7 r94.0 p94.2 -0.1 r-0.7 p0.2 11.5 9.6 7.1 9.0 9.8 8.7 7.7 8.3 1982 10.0 7.6 5.7 7.1 7.1 6.3 5.8 r5.9 1983 July August September . . . 6.8 -0.1 rl62.2 p5.4 r4.1 p5.0 pl64.1 October November . . . December . . . See note on page 80. Graphs of these series are shown on pages 49 and 50. Adjusted for overtime (in manufacturing only) and interindustry employment shifts. Changes are centered within the spans: 1-month changes are placed on the 2d month, 6-month changes dre placed on the 4th month, 1-quarter changes are placed on the 1st month of the 2d quarter, and 4-quarter changes are placed on the middle month of the 3d quarter. 2 OCTOBER 1983 87 B OTHER IMPORTANT ECONOMIC MEASURES PRICES, WAGES, AND PRODUCTIVITY—Continued WAGES AND PRODUCTIVITY—Continued Average hourly compensation, all employees, nonfarm business sector-Continued Year and month Negotiated wage and benefit decisions, all industries ® 348. First year average changes Real compensation 346. Index (1977 = 100) 346c. Change over 1-quarter spans' 346c. Change over 4-quarter spans l (Ann. rate, percent) (Ann. rate, percent) (Ann. rate, percent) 349. Average changes over life of contract (Ann. rate, percent) Output per hour, all persons, private business sector 370. Index (1977-100) 370c. Change over 1-quarter spans' 370c. Change over 4-quarter spans l (Ann. rate, percent) (Ann, rate, percent) 358. Index of output per hour all persons, nonfarm business sector (1977-100) 1981 7.7 0.9 January . February March . , 95.8 April , May . June , 95.5 July August . . September 95.1 October, . November December 95.2 7.2 11.6 -1.2 10.8 10.5 8.1 11.0 0.4 5.8 2.1 100.1 0.6 101.1 -0.4 99.9 -1.1 100.0 0.7 99.9 1.3 100.4 r3.1 100.8 p3.9 101.7 -4.1 101.2 1.4 100.1 4.7 102.3 1.0 3.4 2.2 101.1 -0.5 -1.9 5.9 100.5 -1.2 1982 January . . . February . . March 96.7 April . May . June . 96.8 July August . . September 96.7 October . . November December 97.6 1.9 6.8 101.1 2.6 0.4 2.1 2.5 -0.7 -1.6 100.7 6.2 4.7 2.6 1.7 101.1 3.3 3.7 -0.4 1.2 1.7 4.8 2.5 3.3 101.9 1983 7.2 January . February Maxh .. 99.3 April . , May . June . , 99.3 July August . . September P 2.7 r-O.l pO.2 p99.3 -1.7 1.5 2.0 102.5 P 4.7 P 3.9 (NA) (NA) r5.4 rlO3.3 rlO3.8 P105.0 p4.8 plO4.6 October . . November December See note on page 80. Graphs of these series are shown on pages 49 and SO. Changes are centered within the spans: on th'e middle month of the 3d quarter. 1-quarter change:s are placed on the 1st month of the 2d quarter and 4-quarter changes are placed OCTOBER 1983 OTHER IMPORTANT ECONOMIC MEASURES LABOR FORCE, EMPLOYMENT, AND UNEMPLOYMENT D Civilian labor force Year and month 441. Total 442. Employed 1 CIVILIAN LABOR FORCE AND MAJOR COMPONENTS Number unem floyt d Labor force participation rates 451. Males 20 years and over 452. Females 20 years and over 453. Both sexes, 16-19 years of age (Percent) (Percent) (Percent) (Thous.) 37. Total 444. Males 20 years and over (Thous,) 445. Fern 3 es 20 years and over (Thous. 446. Both sexes, 16-19 years of age (Thous.) (Thous.) (Thous.) January February March 108,012 108,175 108,471 99,964 100,143 100,504 79.1 79.1 79.2 51.8 51.9 52.0 56.6 56.5 56.3 8,048 8,032 7,967 3,479 3,500 3.439 2 , 8 )9 2,7 April May June 108,866 109.101 108,440 101,006 100,968 100,393 79.3 79.4 78.9 52.2 52.4 52.2 56.9 56.2 54.4 7,860 8,133 8,047 3,353 3,540 3,492 2,7 in 108,602 108,762 108,375 100,748 100,709 100,104 78.9 78.9 78.7 52.2 52.1 51.7 54.5 55.2 54.9 7,854 8,053 8,271 109,028 109,254 109,066 100,355 100,229 99,677 78.7 78.7 78.8 52.3 52.4 52.2 54.9 55.0 53 9 January February March 109,034 109,364 109,478 99,688 99,695 99,597 78.6 78.7 78.6 52.2 52.3 52.5 April May June . : 109,740 110,378 110,147 99,484 99,994 99,681 78.7 78.9 78.8 July August September 110,416 110,614 110,858 99,588 99,683 99,543 October November December 110,752 111,042 111,129 January February March 447. Fulltime workers (Thous.) 448. Number employed part-time for economic reasons (Thous.) 1981 1,760 1,766 1,763 6,620 6,602 6,541 4.467 4,182 4,222 2,8 \6 2,8 JO 1,747 1,747 1.725 6,429 6,617 6,581 4,149 4,242 4,088 3,343 3,513 3,559 2 , 8 >7 2 , 8 19 2,9 1,644 1,691 1,759 6,428 6,473 6,762 4,432 4,448 4,612 8,673 9,025 9,389 3,815 4.026 4,367 3,0 [3 3,1 )5 3 1 1,815 1,894 1 848 7,137 7,442 7 990 4,948 5,005 5 325 54.2 54.5 53.8 9,346 9,669 9,881 4,362 4,451 4,607 3,1 )9 3 , 2 $6 3,4 32 1.875 1,932 1,872 7,822 8,000 8,346 5,066 5,489 5.611 52.5 52.8 52.9 54.2 55.2 53.0 10,256 10,384 10,466 4,770 4,818 5,016 3,5 18 3,5 58 3,5 S 1,958 1,998 1,885 8,575 8,689 8,878 5,750 5,731 5,561 78.8 78.7 79.0 53.0 53.0 52.9 53.2 54.2 54.3 10,828 10,931 11,315 5,150 5,232 5,578 3,6 2 3,6 1 3,7 n 2,006 2,028 2,027 9,036 9.209 9,622 5,577 5,820 6,495 99,176 99,136 99.093 78.9 78.9 78.7 52.8 52.9 53.1 54.1 54.4 53.9 11,576 11,906 12,036 5,714 5,865 5,909 3,8 4 3,9 9 4,0 1 2,038 2,052 2,056 9,942 10,127 10,285 6,403 110,548 110,553 110,484 99.103 99,063 99,103 78.1 78.2 78.1 52.9 52.9 52.8 53.5 52.7 52.8 11,446 11,490 11,381 5,597 5,749 5,581 3,9 3 3 9 c 1,886 1,815 1,911 9,810 9,872 9,751 April May June 110,786 110,749 111,932 99,458 99.557 100,786 78.3 78.3 78.6 52.8 52.7 53,1 52.6 52.2 55.4 11,328 11,192 11,146 5,702 5,605 5,288 3,7 29 3,7 44 3,c" 59 1,897 1,843 1,999 9,702 9,438 9,294 6,845 6,481 6,202 6,082 5,928 5.729 July August September 111,875 112,261 112,368 101,285 101,563 101,945 78.8 78.6 78.6 53.1 53.4 53.5 53.6 54.7 54.0 10,590 10,699 10,423 5,208 5,174 5.125 3.E 21 3,6 09 3,5 18 1,860 1,916 1,780 8,949 9,022 8,832 5,636 5,789 6.106 July August September October November December . .. 2,7 H 1982 6,411 6,425 1983 October November December See note on page 80. Graphs of these series are shown on page 51. OCTOBER 1983 OTHER IMPORTANT ECONOMIC MEASURES GOVERNMENT ACTIVITIES DEFENSE INDICATORS RECEIPTS AND EXPENDITURES State and local governmentsl Federal Government! Year and month 500. Surplus or deficit 501. Receipts 502. Expenditures 510. Surplus or deficit 511. Receipts Advance measures of defense activity 512. Expenditures 517. Defense Department gross obligations incurred 525. Defense Department military prime contract awards 543. Defense Department gross unpaid outstanding 548, Value of manufacturers' new orders, defense products (Mil. dol,) (Mil. dol.) (Mil. dol.) (Ann. rate, bil dol.) (Ann. rate, bil. dol.) (Ann. rate, bil. dol.) (Ann. rate, bil. dol.) (Ann. rate, bil. do!.) January , February March.. -43.4 617.4 660.8 35.3 411.3 376.0 14,808 15,741 15,560 7,155 7»514 7,590 82,087 83,608 84,883 4,480 5,060 3,785 April , May . June . -47.3 622.6 669.9 36.7 415.9 379.2 15,210 15,699 15,156 8,505 7,967 7,041 84,994 85,165 86,126 4,041 5,170 5,057 July August . , , September , -62.4 638.8 701.2 37.3 421.6 384.3 16,836 17,374 16,584 8,845 9,504 9,325 87,968 89,857 91,896 5,317 5,440 5,435 October . . November December -95.8 629.2 725.0 32.0 423.4 391.4 12,892 15,674 19,805 4,466 9,817 9,049 91,354 92,575 93,827 4,711 5,269 5,244 January . February March . . -108.5 619.5 728.0 28.8 425.9 397.2 19,361 20,608 18,869 9,756 13,761 9,870 98,818 102,677 105,418 7,151 6,922 6,688 April . May June . -113.2 622.2 735.4 32.0 436.8 404.8 20,793 17,786 17,503 10,518 9,657 14,296 108,428 108,841 109,654 6,204 5,013 5,994 Juy August . . September -158.3 615.2 773.5 31.3 442.8 411.4 17,669 16,448 18,387 8,610 8,928 10,296 110,885 110,787 111,857 5,195 5,656 3,638 October . , Noverrber December -208.2 612.6 820.9 32.9 450.7 417.8 16,476 18,599 24,396 5,423 10,209 17,298 111,866 113,647 119,788 5,621 5,663 11,207 January . Fearuary Merch . . -183.3 623.3 806.6 40.4 461.7 421.3 21,340 19,502 20,444 16,908 13,042 7,351 122,628 123,803 125,570 9,568 5,319 6,569 Apil . May . June . -166.1 652.6 818.7 51.7 478.7 427.0 19,332 19,554 21,518 10,132 10,111 10,814 126,165 126,532 129,720 7,079 4,782 7,939 (NA) (NA) P832.3 (NA) (NA) P437.4 19,409 p20,489 11,017 plO,727 (NA) (NA) 131,172 pl30,829 (NA) 6,901 r4,545 P4.467 (Ann. rate, bil. dol.) (Mil. dol.) 1981 1982 1983 July . . . . Auuust . . September October. . November December Sec noSe on page 80. Graphs of these series are shown on pages 52 and 53. x Based on national income and product accounts. 90 OCTOBER 1983 OTHER IMPORTANT ECONOMIC MEASURES GOVERNMENT ACTIVITIES-Continued DEFENSE INOfCATORS-Continued National defense purchases Intermediate and final measures of defense activity Year and month 557. Output of defense and space equipment 559. Manufacturers' inventories, defense products 561. Manufacturers' unfilled orders, defense products 580. Defense Department net outlays (1967 = 100) (Mil.doi.) (Mil. dol.) (Mil.doi.) 588. Manufacturers' shipments, defense products 570. Employment in defense products industries (Mil.doi.) (Thous.) Defense Djpartment pers( nnel 577. Military, active duty <§) 578. Civilian, direct hire employment <g) (Thous.) (Thous.) 564. Federal purchases of goods and services (Ann. rate, bit. dol.) 565. Federal purchases as a percent of GNP (Percent) 1981 January February March 100. 100. 100. 11,113 11,318 11,547 67,999 69,269 69,109 12,639 12,932 12,619 3,613 3,790 3,945 1,391 1,388 1,390 2,056 2,061 2,062 973 972 974 143.3 5,0 April May June 101. 102. 101.7 11,823 11,959 12,352 69,265 70,594 71,692 12,833 13,433 13,264 3,885 3S841 3,959 1,393 1,393 1,395 2,060 2,064 2,070 980 990 1,008 151.2 5.2 July August September . . . 102.6 102.8 103.0 12,417 12,457 12,747 72,912 74,129 75,490 13,889 13,809 14,014 4,097 4,223 4,074 1,394 1,397 1,397 2,082 2,084 2,083 1,023 1,017 984 154.9 5.2 October November . . , December . . . 104.5 105.3 107.0 12,857 13,227 13,386 76,042 77,133 78,076 14,277 14,548 15,298 4,159 4,178 4,301 1,392 1,385 1,390 2,090 2,097 2,093 998 1,006 1,009 166.7 5.5 January February March 105106, 107.0 13,676 13,864 14,059 81,144 83,719 85,990 14,152 14,689 15,075 4,083 4,347 4,417 1,386 1,380 1,377 2,104 2,109 2,107 1,008 1,013 1,018 168.1 5.6 April May June . .' 107. 107. 107, 14,209 14,276 14,431 87,917 88,258 89,371 15,670 15,379 15,334 4,277 4,672 4,881 1,376 1,372 1,371 2,106 2,104 2,108 1,022 1,028 1,045 175.2 5.7 July August September . . . 109, 109, 109.5 14,437 14,700 15,039 89,708 90,598 89,255 16,312 15,050 16,881 4,858 4,766 4,981 1,372 1,364 1,366 110 109 2,109 1,051 1,043 990 183.6 5.9 October November . . . December . . . 111.9 113.6 115.9 15,334 15,568 15,983 89,866 90,561 96,691 15,972 17,087 16,779 5,010 4,968 5,077 1,363 1,363 1,359 2,108 2,114 2,113 1,016 1,024 1,027 190.8 6.1 January February March 116.4 116.1 117.0 16,538 16,501 16,824 101,116 101,179 102,632 17,058 16,772 16,804 5,143 5,255 5,116 1,355 1,358 1,355 120 122 2,127 1,024 1,028 1,030 194.4 6.1 April May June 118, 117. 118.0 16,850 17,240 17,311 104,440 104,046 106,648 17,529 16,854 17,189 5,271 5,176 5,337 1,358 1,362 1,367 2,123 2,120 2,116 1,029 1,040 1,049 199.4 6.1 rl20.0 rl21.5 P122.9 17,348 17,805 (NA) 107,865 rlO6,967 plO6,158 16,975 rl8,455 P17.414 5,683 r5,442 p5,275 rl,373 pi,354 2,113 2,115 p2,123 1,053 1,052 pi,026 p205.8 p6.1 1982 1983 July August September . . . (NA) October November . . . December . . . See note on page 80. Graphs of these series are shown on pages 54 and 55. OCTOBER 1983 91 OTHER IMPORTANT ECONOMIC MEASURES U.S. INTERNATIONAL TRANSACTIONS MERCHANDISE TRADE Year and month 602. Exports, excluding military aid shipments, total 604. Exports of agricultural products (Mil.dol.) (Mil.dol.) 606. Exports of nonelectrical machinery (Mil.dol.) 612. General imports, total (Mil. dol.) 616. Imports of automobiles and parts 614. Imports of petroleum and petroleum products (Mil.dol.) (Mil. dot.) 1981 January February March 18,902 19.788 21,278 4,295 3,977 4,201 4,058 4,155 4,352 22,616 21,916 21,029 7,359 8,018 5,992 2,264 1,742 2,125 Aliril May 19,786 18,899 19,750 3,604 3,708 3,256 4,311 4,160 4,388 22,249 21,232 22,005 6,919 6,329 6,521 2,042 2,299 2,257 19,289 19,031 19,551 3,089 3,202 3,563 4,567 6,207 4,559 20,114 23,242 21,274 5,400 6,335 5,709 2,108 2,635 1,943 19,163 19,153 18,885 3,735 3,442 3,220 4,338 4,366 4,005 23,077 22,508 19,746 6,123 6,483 4,636 2,464 2,239 2,164 January Fcbruitry Murch 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 April Mjiy 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 2,135 2,596 2,389 2,785 2,626 % August September . . , 18,060 17,463 17,320 2,789 2,763 2,648 4,305 3,856 4,197 19,849 22,930 20,581 5,624 5,731 4,903 2,455 2,795 2,370 October November December . . . 16,671 15,852 16,347 2,681 2,783 2,637 3,829 3,686 3,719 21,006 18,892 19,154 5,433 4,757 4,694 2,444 2,130 2,189 January February March 17,393 16,326 16,752 3,128 2,985 2,811 3,644 3,359 3,499 20,021 19,015 19,525 4,166 2,859 3,261 Ap«il Mar June 16,074 15,566 17,008 2,891 2,715 2,977 3,513 3,433 3,265 19,771 21,514 21,024 3,252 5,284 4,203 2,329 3,019 2,676 2,746 3,001 2,851 Joljf August 16,628 16,630 3,072 2,973 (NA) 3,655 3,290 (NA) 21,950 22,782 (NA) 5,220 4,828 (NA) June July August dffpiciiiij'Or » * i October November . . , December . . 1912 1983 September . . . (NA) October December ... See note on page 80. 6rapht of \t*u twits art 92 M p*fe 56. OCTOBER 1983 2,988 2,762 (NA) OTHER IMPORTANT ECONOMIC MEASURES E I U.S. INTERNATIONAL TRANSACTIONS-Continued • | GOODS AND SERVICES MOVEMENTS (EXCLUDING TRANSFERS UNDER MlLITAf Y GRANTS) Year and month 667. Balance 669. Imports 668. Exports (Mil.dol.) (Mil.dol.) Income on investments Merchandise, adjusted' Goods and services (Mil. dol,) 622. Balance (Mil.dol.) 618. Exports (Mil.dol.) 620. Imports (Mil. doll) 652. Foreign investments in the United States 651. U.S. investments abroad (Mil. dol.) (Mil. dol.) 1981 Janudry February March 4,839 ... 93,786 • *. 88,947 ... -4,482 ... 60,793 ... 65^275 20,683 ... 12,477 » April May June 2,309 94,534 92,225 -7,342 60,031 67|,373 21,717 13,505 July August September l,80i 93,082 91,281 -8,402 57,8iz 661.214 22,043 13,888 2,57i 93,221 90,650 -7,841 58,383 661,224 21,801 12,892 2,625 89,761 87,136 -6,103 55,636 6^739 20,761 13,824 3,236 90,790 87,554 -5,854 54,996 64*850 22,316 14,779 -4,854 86,932 91,786 •. • -13,078 .•• 52,24i •*• 6?,3i9 ••• 21,569 • • • 14,748 .•• 85,030 -11,354 48,344 50,698 19,499 13,491 October November 1982 January February March April May June .. July August September October November December . . » • . . -4,190 *** 80,840 »t * 1983 January . . February . . . March April May June . . July August September -2,026 81,142 83,168 -8,810 49,506 56,316 17,697 12,608 p-7,874 P81.876 p89,750 p-14,66i p48,9i3 p6|3,574 pl9,i90 pl3,257 • (NA) (NA) (NA) (NA) (NA) (NA) • • (NA) (NA) October . November . . December See note on page 80. Graphs of thtst writs are shown on p a p 57. ^Balance of payments basis: Excludes transfers under military grants and Department of Defense sales contracts (exports) and Department of Defense purchases (imports).. OCTOBER 1983 OTHER IMPORTANT ECONOMIC MEASURES INTERNATIONAL COMPARISONS INDUSTRIAL PRODUCTION Year and month 47. United States, index of industrial production (1967 = 100) 721. OECO' European countries, index of industrial production 728. Japan, index of industrial production 725. West Germany, index of industrial production 726. France, index of industrial production 722. United Kingdom, index of industrial production (1967-100) (1967 = 100) (1967 = 100) (1967 = 100) (1967-100) 727. Italy, index of industrial production 723. Canada, index of industrial production (1967 = 100) 1981 January February March 151.4 151.8 152.1 154 159 158 226.9 225.8 226.3 156 164 160 156 159 157 116 117 117 158.6 170.3 169.3 Apfil Mar June 151.9 152.7 152.9 156 156 155 226. 223, 228. 160 160 156 156 159 160 117 116 118 168.4 158.0 159.8 153.9 153.6 151.6 158 152 158 230, 229, 233.1 157 157 160 157 157 160 118 118 118 165.2 137.2 164.1 149.1 146.3 143.4 158 158 156 234.5 234.5 233.9 160 157 156 160 159 160 121 120 118 158.4 168.1 160.4 140.7 142.9 141.7 156 158 158 232.6 231.2 233.2 160 161 161 157 156 156 118 118 120 161.9 169.8 165.7 140.2 139.2 138.7 156 156 154 230. 228, 231. 160 157 154 157 157 157 164.7 162.7 154.9 138.8 138.4 137.3 152 151 152 229. 230, 231, 150 153 152 154 154 154 120 120 118 118 120 120 135.7 134.9 135.2 151 152 151 225.5 230.6 228.4 150 150 149 156 157 154 120 117 120 149.7 155.5 151.8 137.4 138.1 140.0 154 154 154 229.4 228.3 233.4 157 156 156 121 122 121 152.0 155.3 152.5 142 144, rl46. rl54 155 154 232.6 233.1 235.2 152 152 153 153 154 157 156 160 156 122 122 120 145.2 148.9 rl44.4 rl49.6 rl51.4 pl53.7 (NA) <NA) (NA) (NA) P149.0 (NA) rl54 (NA) 159.6 146.4 154.1 See note on page 80. Graphs ol these series are shown on page 58. Organization for Economic Cooperation and Development, 94 OCTOBER 1983 ItCII OTHER IMPORTANT ECONOMIC MEASURES INTERNATIONAL COMPARISONS-Continued CONSUMER PRICES Year and month 320. Index ® (1967 = 100) West Germany Japan United States 320c. Change over 6-month spans l (Ann. rate, percent) 738. Index ® (1967=100) 738c. Change over 6-month spans' (Ann. rate, percent) 735. Index ® (1967 = 100) Frai 735c. Change over 6-month spans! 736. Index ® (Ann. rate, percent) (1967 = 100) United Kingdom ce 736c. Change over 6-month spans' (Ann. rate, percent) 732. Index © (1967-100) 732c. Change over 6-month spansl (Ann. rate, percent) 1981 January February March 260.5 263.2 265.1 9.9 9.6 9.1 291.1 290.8 292.2 4.4 3.1 3.8 180.9 182.3 183.5 6.6 6.2 5.7 312.7 315.6 318.8 13.2 13.0 13.0 445.5 449.5 456.2 13.0 12.1 11.6 April May June . .• 266.8 269.0 271.3 10.0 10.1 10.6 294.5 297.0 297.3 2.6 2.9 3.2 184. 185. 186, 6.3 6.7 6.9 323 326, 329 13.8 14. 15, 469.4 472.4 475.2 12.5 12.1 10.7 July August September . . . 274.4 276.5 279.3 10.5 9.6 8.8 296.4 294.7 299.5 3.9 4.1 4.2 187, 187, 188. 6.9 7.1 6.9 334.9 I 339.0 342.9 14, 15. 15. 477.3 480.8 483.5 10.4 11.8 12.5 October November . . . December . . . 279.9 280.7 281.5 6.9 5.3 3.1 300.7 299.8 299.8 4.0 3.3 2.4 189. 190, 190.7 6.3 4.8 3.5 347.1 350.3 352.4 13.9 13.6 13.0 487.9 493.0 496.1 11.5 9.9 10.0 January February March 282.5 283.4 283.1 2.9 4.0 5.5 300.7 299.8 300.4 1.9 0.5 0.1 192.3 192.8 193.1 3.0 3.5 4.9 356.0 359.6 363.8 13.0 12.0 12.0 499.0 499.1 503.5 8.4 7.3 6.0 April May June 284.3 287.1 290.6 6.1 6.6 6.9 302.9 303.8 303.8 -0.5 2.9 4.0 194.0 195, 197, 4.9 5.4 6.3 368.2 371.1 373.7 9.9 8.2 7.2 513.6 517.3 518.9 6.0 6.0 4.7 July August September . . . 292.2 292.8 293.3 7.2 5.1 2.3 301.5 303.8 309.1 4.4 4.1 3,7 197.6 197.3 197.9 6.8 5.9 4.0 374.7 375. 377. 5.8 6.9 7.3 518.9 519.0 518.7 5.3 5.3 4.2 October November . . . December . . . 294.1 293.6 292.4 1.4 0.4 0.5 310.0 306.6 306.0 4.0 0.7 0.9 198. 198. 199.4 2.7 2.3 0.9 379. E 383.2 386.4 9.5 10.3 10.8 521.3 523.9 522.9 4.0 5.6 4.6 January February March 293. 293. 293, 0.8 1-9 2.9 306.6 305.5 307.5 -0.3 1.7 0.5 199.8 200.0 199.8 0.0 0.4 0.8 390.1 392. <) 396.$ 12.3 11.2 10.2 523.5 525.8 526.7 2.3 1.7 2.8 April May June 295, 297. 298, 3.4 4.7 5.4 308.6 312.0 309.7 0.7 1.7 (NA) 200.3 201.1 201.8 2.4 3.6 (NA) 401. 404. 406. 9.8 9.7 (NA) 534.1 536.4 537.7 4.5 4.3 6.1 July August September . . . 299, 300. 301.8 1982 1983 308.3 307.4 (NA) 202.6 203.2 (NA) 410. 412. i (NA 540.6 543.0 545.4 October November . . , December . . See note on page 80. Graphs of these series are shown on page 59. 1 Changes over 6-month spans are centered on the 4th month. OCTOBER 1 9 8 3 95 OTHER IMPORTANT ECONOMIC MEASURES FJ INTERNATIONAL COMPARISONS-Continued STOCK PRICES CONSUMER PRICES—Continued Year and month Italy Canada 737. Index © 737c. Change over 6-month spans' 733. Index ® 733c. Change over 6-month spansl (1967 = 100) (Ann. rate, percent) (1967-100) (Ann. rate, percent) 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) 1981 January Feb'uary March 440.7 449.1 455.4 20.1 20.1 19.3 259.1 261.7 265.2 13, 12, 13, 144.6 139.7 144.9 457.9 458, 467, 115.3 114.0 116.3 191.1 201.1 209.4 259.0 269.0 273.2 110.0 122.1 125.9 223.7 218.6 233.9 April May June 461, 468, 473, 18.9 18.2 16.8 267.2 269.6 273.8 12, 12, 11.9 146. 143. 143.9 494.6 502.8 515.2 122.7 122.1 126.1 197, 162. 152, 293.2 295.6 289.0 132.4 135.9 123.5 232. 245, 242. July August September . . . 477.7 481.0 487.7 17.7 16.8 17.0 276.2 278.2 280.2 12, 12, 11.0 140.5 141.0 128.7 534.4 540.7 511.3 127.5 123.5 122.5 168, 177, 176, 284.8 298.6 278.9 99.1 112.0 99.1 232. 231, 192. October Novtsmbur . . . December . . , 497.5 506.0 511.1 15.8 15.3 15.6 283.0 285.4 286.7 10.6 10.9 11.2 130.3 133.7 134.7 493.8 505.6 512.7 118.8 118.0 117,7 163, 169, 170.7 259.5 278.0 284.2 91.2 93.8 96.9 190, 208. 201.2 January February March 517.7 524.4 529.1 13.8 13.6 13.1 288.7 292.1 295.8 10.5 11.4 11.4 127.6 124.6 120.6 518.9 516.9 486.2 116.8 118.4 120.1 185.7 193.1 145.9 291.1 300.1 298.8 95.0 98.8 104.2 185.3 176.7 173.1 April May June 533.9 539.8 545.2 15.9 19.0 18.7 297. 301, 304, 11.1 10.2 9.5 126. 126, 119, 484, 503, 489, 120.6 117.6 114.2 184.8 183, 166, 303, 315. 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, 307, 309, 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, 169, 168.4 313, 320. 343.5 78.4 86.1 85.8 156.8 177.4 177.3 October Novenber . . . December . . , 582, 590. 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 13, 13, 312.5 313.9 317.1 3.8 2.8 3.8 156.9 159, 165. 533.3 530.8 544.2 126.0 131.9 143.9 181.8 188.5 204.7 371.9 381.6 388.3 95.5 109.1 118,7 210.0 216.6 219.5 April May June 622, 14.0 13.6 13.6 317.1 317.9 321.5 5.5 6.3 4.9 171.6 178.5 181.0 559.7 573.4 583.3 157.0 158.6 159.5 215.6 230.0 224.9 115.8 111.6 110.3 240.0 251.8 260.2 July August , September . , . 638. 641 649.4 181.6 176.7 181.8 598.7 606, rp593, P182.8 p630.7 1982 1983 628, 632, 322, 324, 324.5 October November . . . December . . . 169. 166, rpl64, pl71.6 410, 403, p411, p237.8 P249.3 rp251.7 p414.5 P432.6 rp422.4 112.9 P117.1 rpllB.O 264.3 p260.1 rp273.8 p257.7 P412.9 pllO.2 p264.4 See note on page 80. Graphs of these series are shown on page 59. & Chan,ges over 6-month spans are centered on the 4th month. 96 OCTOBER 1983 BCD APPENDIXES B. Current Adjustment Factors Jan. Feb. Mar. Apr. May 1983 1 June July I Aug. 144.9 105.9 91.4 94.2 84.5 92.1 90.6 112.0 100.8 101.1 106.6 Series 5. Average weekly initial claims, State unemployment insurance 13. New business incorporations 1 96.2 15. Profits after taxes per dollar of sales, manufacturi ng2 ... 33. Net change in mortgage debt 13 517. Defense Department gross obligations incurred1. . . . Oct. Nov. Dec. 85.7 80.4 88.4 96.9 123 9 98.2 101.3 98.9 99.3 91.5 103.9 111.3 105.5 97.4 -1696 -1977 -1102 72. Commercial and industrial loans outstanding in current dollars'* Sept. 100.4 99.9 108.7 90.8 103.9 99.3 98.7 98.3 -67 1253 -292 1010 1390 99.9 100.0 99.4 99.6 99.2 99.9 100.5 85.9 90.8 84.0 128.0 122.5 -169 104.4 87.8 361 543 825 100.8 101.0 95.7 95.6 89.3 101.3 91.2 95.1 88.2 81.4 80.9 102.8 102.0 101.8 102.5 101.3 98.5 97.0 94.6 98.1 100.7 100.2 99.8 99.9 99.8 99.4 99.9 100.2 100.3 97.7 100.2 104.2 99.8 98.3 100.3 604. Exports of domestic agricultural products . 99.6 101.1 113.4 103.1 98.7 93.7 84.! 87.9 89.5 106.6 111.9 606. Exports of nonelectrical machinery 91.4 93.6 111.8 100.9 103.0 109.1 98.J! 98.2 96.7 103.9 95.7 96.9 92.0 111.0 94.6 104.8 91.2 104.2 101.2 94.5 525. Defense Department prime contract awards 543. Defense Department gross unpaid obligations outstanding 89.9 76.0 109.7 96.2 570. Employment in defense products industries . 100.4 100.2 100.3 100.0 580. Defense Department net outlays 1 93.2 614. Imports of petroleum and products 616. Imports of automobiles and parts 1 1 .... 96.6 109.8 106.6 105.0 100.0 101.1 106.6 86.3 111.7 100.6 83.1 103.1 108.4 109.4 90.0 93.2 199.2 91.2 99.9 100.2 95.3 100.0 101.1 103.1 110.2 NOTE: These series are seasonally adjusted by the Bureau of Economic Analysis rather than by| the source agency. Seasonally adjusted data prepared by the source agency will be used in BUSINESS CONDITIONS DIGEST whenever they are available. For a description of the method used to compute these factors, see Bureau of the Census Technical Paper No. 15, THf x-11 VARIANT OF THE CENSUS METHOD II SEASONAL ADJUSTMENT PROGRAM. 1 Factors are the products of seasonal and trading-day factors. Quarterly series; factors are placed in the middle month of the quarter. 3 These quantities, in millions of dollars, are subtracted from the month-to-month net change Jin the unadjusted monthly totals to yield the seasonally adjusted net change. These factors are computed by the additive version ofj the X-11 variant of the Census Method II seasonal adjustment program. '•These factors apply to only the loans portion of this series. 97 C. Historical Data for Selected Series Year Jan. Feb. Mar. Apr. May June Aug. July Sept. Oct. Nov. Dec. IQ II Q 87.91 96.89 99.16 102.00 103.29 99.79 105.09 108.08 106.06 104.07 107.71 108.99 110.06 113.09 115.93 118.72 124.60 130.44 132.07 136.46 140.56 137.31 138.02 144.96 149,81 151.91 147.00 152.00 159.29 166.37 170.39 169.25 169.68 164.29 88.48 97.44 99.60 103.12 102.29 100.93 106.46 108.23 105.72 105.03 100.20 109.52 110.87 113.38 115.87 119.67 125.36 130.76 133.02 136.42 140.20 136.78 139.00 146,00 151.57 149,78 148.37 152.56 159.58 167.87 170.38 169.19 168.66 163.24 88,89 97.19 99.93 103.94 101.66 101.20 106,80 108.56 105.54 105.42 109.95 106.79 110.68 113.21 115.84 120.60 126.16 130.98 133.11 136,90 140.73 137.77 140.26 146.10 151.44 148.06 149.22 153.13 159.49 167.92 170.01 170.22 160.58 164.01 91.92 89.43 99.02 100.67 104.27 100.64 102.07 106.88 108.15 103.61 106.91 109.97 107.78 111.10 113.38 116.05 121.55 127.59 130.91 133.24 137.99 140.05 137.72 141.69 147.72 151.30 146.47 150.74 153.91 160.57 160.67 171.27 170.81 166.80 90.35 92.21 99.81 100.06 104.28 99.83 104.07 107.30 107.61 102.00 108.98 110.08 108.28 112.76 114.64 117.54 122.58 128.83 130.90 134.40 139.23 139.22 138.28 143.11 149.10 150.00 145.40 150.66 156.33 164.41 168.60 168.99 170.45 167.13 III Q IV Q Annual 48. EMPLOYEE-HOURS IN NONAGRICULTURAL ESTABLISHMENTS {ANNUAL R A T E , 194SL.. 195C... 1951... 1952... 1953... 1954... 1955... 1956... 1957... 1958... 1959... 1960... 1961... 1962... 1963... 1964... 1965... 1966,., 1967,.. 1968,.. 1969,.. 1970, .. 1971... 1972... 1973... 1974... 1975... 1976.., 1977... 1978... 1979... 1980... 1981... 1982... 1983... | 92.44 89.16 96.69 100.52 103.81 100.48 101.24 106.88 107.71 104.90 106.43 110.00 107.72 109.91 113.23 114.00 120.96 126.60 131.41 132.44 137.62 139.91 137.97 141.16 146.64 151.12 147.02 151.04 152.19 159.02 16B.01 171.81 171.56 164.25 48C. 92.04 88.72 98.99 101.00 104.34 100.66 101.87 107.09 108.SI 103.14 106.64 110.14 107.81 111,36 113.40 116.59 121.64 127.74 130.70 133.60 137.82 139.97 137.34 141.86 147.91 151.55 146.29 150.70 154.79 160.54 166.36 171.37 170.07 168.40 91.26 90.40 99.38 100.48 104.67 100.59 103.11 106.67 108.22 102.80 107.65 109.78 107.82 112.02 113.50 116.75 122.06 128.42 130.61 133.61 138.52 140.26 137,84 142.06 148.61 151.22 145,31 150.49 154.74 162.16 169.61 170.63 170.79 167.74 90.94 90.99 99.95 100.02 104.59 100.13 103.21 107.38 107.63 101.83 108.57 110.32 107.65 112.58 114.34 117.43 122.11 128.38 130.55 133.76 138.72 139,83 137.95 142.87 148.82 149.09 145.37 149.63 155.41 163.93 166.05 169.80 169.70 167.21 BILLIONS 90.41 92.32 99.75 100.46 104.06 99.67 104.41 107.12 107.65 102.04 106.94 110.03 108.27 112.80 114.66 117.47 122.87 128.58 130.92 134.48 139.38 139.07 138.33 142.93 149.19 151.73 145.76 151.29 156.49 164.13 169.43 168.88 170.70 167.61 CHANGE IN EMPLOYEE-HOURS I N N O N A G R I C U L T U R A L {COMPOUND ANNUAL RATE , 1949... 1950.,. 1951.,. 1952.,. 1953.,,. 1954... 19S5.!. 1956... 1957.,. 1958.,. 1959... 1960... 1961... 1962!!! 1963... 1964... 1965... 1966... 1967... I960... 1970.'!! 1971... 1972... 1973... 1974.., 1975... 1976.., 1977..,, 1978.., 1979.., 1980.., 1981.•. 19B2... 1983 -13.1 3.7 20.2 7.3 -1.5 -13.1 0.5 0.9 -9.0 -7.0 12.1 0.5 11 • 0 -e!o -10. 3 3.6 4.3 4.0 -5.9 -6.8 1.8 B.O 4.5 -2.5 -1.9 15.7 -7.1 -3.5 0.6 7.3 9.9 -26.8 48C. -5.1 -5.8 3.7 5.9 6.3 4.6 7.7 2.4 9.3 -18.4 2.4 1.5 -9.5 25.2 4.8 -6.0 3.9 -3.2 15.6 -4.6 -3.2 -3.9 12.0 -3.9 -4.4 8.1 7.1 -5.4 -0.9 -5.4 1. J 8.3 -6.3 -10.8 10.8 6.1 17.0 7.3 6.2 -6.8 19.0 -2.4 5.4 -5.9 -5.4 14.9 -2.9 0.2 2.5 -9.1 13.8 -0.1 -8.7 1.5 0.2 2,0 3.1 -1.0 1.2 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 89. 94. 99. 99. 04. 99. 04. 06. 07. 02. 09, 09. 09. 12. 15. 18. 23. 29. 31. 35. 39. 39. 38. 43. 49. 51. 45. 51. 57. 65. 70. 67. 71. 66. 32 33 71 19 05 45 80 10 61 45 08 89 29 94 11 06 13 49 43 52 83 04 09 25 87 43 59 61 65 57 49 29 19 05 89.37 96.34 99.42 100.72 103.35 99.26 104.98 107.39 107.64 103.01 108.18 109.81 109.70 113.22 115.18 118.31 123.62 129.86 131.77 135.86 140.33 138.54 138.63 143.92 150.01 151.33 147.13 151.52 157.95 165.70 170.43 168.11 171.09 165.46 09.54 96.33 99.19 102.35 102.57 99.36 105.62 107.53 107.19 104.03 107.84 109.24 109.24 113.57 115.56 118,31 123.88 129,80 132.34 136.14 140.46 134.34 138.41 144.09 150.29 151.47 147.54 152.00 158.67 166.02 170.73 168.76 167.31 165.30 E S T A B L I S H M E N T S OVER 1-MONTH SPANS PERCENT) 1 - 4.8 3.8 0.4 6.0 1.6 2.9 2.6 -13.5 0.6 3.7 2 2 1 0 8 3 0 7 2 2 5 0 6 . . . . . . . . . . 7 8 4 2 8 3 1 6 3 8 -6.8 13.6 1.5 -2.9 -3.5 -0.6 14.2 -2.2 11.8 -6.0 -1.3 1.6 -4.9 12.6 6.3 -11.9 1.7 -3.0 3.7 -2.0 -0.4 -1.0 2.B -2.4 l!2 -1*.3 7.7 3*9 ~s',9 -2.3 1. 3 8.5 -7.6 5.5 - 0 . 9 -6.1 0.4 2.1 3 . 0 0 . 7 3.8 4.0 0.0 z'.i 2.0 0.8 4.3 7.4 -1.0 1.0 30.0 -3.3 0.6 -3.8 3.5 2.1 0.0 4.8 2.6 -2.4 3.5 10.4 -7.1 -4.5 16.6 9.0 15.0 -15.6 4.7 4.5 2.2 9.0 4.0 0.8 -1.0 -12.9 7.1 4.6 -0.7 -1.3 0.3 5.3 7.1 -0.5 -7.1 3.8 5.0 -4! 2 2.1 4.3 2.5 2.2 0.1 2.0 6.2 -0.1 -0.4 —7.0 -7,4 3.1 7.6 -0. 6 5.8 4.1 -0.3 3.8 -5.3 1.7 1.2 1. 8 0.5 -2.6 7.5 0.5 -5.3 6.1 10.9 3.5 -11,7 -2.7 2.5 4.5 1.7 5.8 -2.6 -7.7 -1.7 -3.6 1.0 7,1 1.7 -15.7 0.5 -6.6 -6.3 3.4 0.5 3.0 23.4 3.3 14.2 -2.7 2.0 5.2 2.7 -1.2 -3.6 -1.7 2.5 - 4 . 2 -4.0 4 . 8 -2.3 5 . 8 2.8 1 . 1 -1.2 - 0 . 8 2.3 1 3 . 5 4.4 - 0 . 7 -30.9 -1.9 8.4 2.3 1.1 3.4 3.9 12.1 2.7 -3.0 12.8 9.1 -5.1 13.9 -22.5 -5.7 1.5 27.4 -6.3 7.9 6.6 -4.0 1,7 -7.1 2.9 1 . 5 1.1 - 0 . 4 -7.0 6 . 0 1.8 — 0 . 7 -3.8 - 4 . 2 1.8 2.1 4.7 —23.5 -1.2 R A T E, 0.5 4. 2 3.0 9.0 -0.4 4.5 ANNUAL -0.3 9.7 5.4 1.0 3.9 6.1 -2.4 2.9 9.2 2.9 CHANGE IN EMPLOYEE-HOURS I N N O N A G R I C U L T U R A L -0.6 -0.6 5.3 2.5 3.5 6.7 2.9 -26.1 5.1 3.4 2.4 3.6 2.0 4.2 0.5 -0.4 -0.5 1.4 -3.7 6.0 -0.6 10.0 4.2 6.6 -0.8 -0.6 -4.6 -2.7 -s!o -1.8 3.9 4.2 7.0 11.4 -6.3 11.6 34.9 -2.0 -9.2 7.7 9.6 2.4 2.9 -3.9 0.0 E S T A B L I S H M E N T S OVER 3-MONTH SPANS PERCENT) 2.3 2.0 3.7 0.8 3.4 3.5 2.6 -10.9 -0.4 4.0 2.1 -0.3 6.4 2.5 4.1 0.9 1.2 — 7. 5 -3.1 5. 3 3.7 3.0 6.4 -3.1 -U2 1.0 0.0 7.6 3.7 2.5 2.3 0. 8 11,5 5.8 3.5 3.4 -8.3 4.6 3.0 2.1 0.2 3.6 3.6 -2.9 -6.9 17.2 3.1 -2.1 -1.1 -4.6 10.4 0.1 -6.8 13.6 1.5 -3.1 -1.8 -3.5 5.8 2.7 -6.9 15.5 -1.0 -3.3 -2.0 -2.7 6.3 -4.7 -4.5 - 0 . 7 18.6 1 3 . 5 -1.3 - 2 . 2 1.0 1 1 . 1 -2.7 - 6 . 1 -1.6 - 1 . 3 2.2 4 . 0 1.0 0 . 5 -6.2 11.3 -2. 15.' -2.* 1.' 4. 7. -3.9 4.6 0.7 9.9 -4.0 6.9 S.8 3.2 -2.9 3.6 3.0 6.4 -3.5 7.6 4.5 3.9 5.0 7. 5. 4.( -10. * 5. 3. -1. -7.4 5.5 7.0 2.0 3.5 -3.7 6.5 . 1.3 -6.9 15.4 1.2 -2.fl -1.6 -3.6 7.5 -0.6 -3.8 14.5 -1.9 9.2 -3.9 -0.5 3.5 3.1 -0.3 5.3 3.1 6.8 -6.0 -5.5 3.8 2.4 -6.3 8.5 5,2 -2.0 3.0 -1.4 0.0 1.9 -9.4 6.3 7.4 -6.1 -10.0 6.7 -0.6 3.9 -11.2 6.3 1.2 -0.3 -4.2 8.9 -0.4 1.7 -2.5 6.7 0.4 4.1 2.5 1.9 -1.6 6.2 5.5 8.1 -8.7 5.4 9.' n'.f -4.< -0.5 -10.2 7.0 2.7 -0.8 -1.4 5.8 -0.5 4.0 6.0 -4.5 -2.1 3.1 7.7 5.7 -4.8 3.1 1.0 3.2 4.9 4.0 9.5 3.9 4.5 3.1 4.1 5.1 3.4 2.3 2.7 2.2 3.4 6. -4.9 -3.2 2.8 0.5 2.9 2.3 4.9 8.1 0.1 -1.1 4.3 0.1 2.5 6.7 7.8 3.9 -2.8 -0.8 5.4 1.5 1.8 2.9 2.5 2.4 4.7 S.8 1.0 B.O -3.8 7.8 6.6 1.7 5.1 5.2 4.1 2.9 3.3 2.3 2.4 3.7 -0.1 6.0 6.7 -1.3 1.8 2.7 2.4 2.0 1.5 4.0 4.1 -0.7 0.6 5.4 6.2 -2.0 -7.6 2.0 6.3 7.4 0.2 -0.9 -0.3 1.6 0.9 3.6 -3.0 1.8 2.8 3.0 2.6 -0.3 2.9 5.5 7.0 5.1 -5.6 1.8 -2.4 7.0 2,5 -6.2 0.1 3.8 1.4 0.0 5.4 1.4 4.0 2.7 1.0 1.4 -3.6 -4.1 -0.5 2.5 6.1 4.7 3.6 -7.7 5.7 2.1 1.9 4.6 1.2 3.9 -4,9 -1.6 4.8 -0.7 1.6 6.0 5.3 -0.1 -9.0 6.4 6.0 2.4 1.2 2.3 2.1 -0.6 0.7 -1.3 0.2 5.2 7.1 -0.6 -7.2 3-4 4.3 6.9 4.1 -0.4 1.3 -2.0 1.1 -0.2 -0.1 4.9 6,1 -5.3 -6.5 -3.7 8.7 12.9 -4.6 -4.6 -4.3 7.4 0.8 -2.5 2.9 3.1 3.5 0.5 -1.4 1.6 4.5 9.2 2.5 -5.7 1.5 -1.9 8.6 -4.2 2.1 4.2 2.5 1.0 0.0 1.6 6.2 7.6 1.7 -5.4 0.4 -2.7 7.4 -2.2 0.4 1.1 2.9 6.4 0.6 5.4 5.9 4.1 11.1 -5.8 3.6 -2.7 4.9 -1.5 0.9 2.8 2.2 -1.1 3.8 0.6 3.8 4.1 2.4 -1.8 0.9 -5.0 0.8 7 . - 5 . - 2 . 1 . 2 . 2 . 2 . 3 . - 1 - 0 3 2 - 0 6 2 4 2 0 1 - 0 - 3 5 6 7 3 2 4 3 0 7 2 . 1 . 4 . 8 . 1 . 3 . 3 . S . 1 . 1 . 9 . 1 . 2 . 0 . 0 -4.9 -0.2 4.9 -0.2 1.3 6.2 1.0 4.2 1.9 -0.2 4.8 -3.5 -4.2 -5.0 3.4 5.9 4.2 -4.0 3.4 2.8 4.2 5.1 -0.1 2.6 -S.6 -5.3 7.6 10.6 5.5 3.4 3.1 -8.7 4.6 3.0 2.1 4.7 0.2 3.5 3.1 -3.1 1.9 9.4 4.7 3.5 -10.3 9.1 0.5 -0.7 4.0 3.4 5.6 -12.2 3.7 NOTE: These series contain revisions beginning w i t h 1979. Percent changes are centered w i t h i n the spans: 1-month changes are placed on the 2d month and 3-month changes are placed on the 3d month. Quarterly and annual figures are averages of the centered changes. -4.6 9.8 3,0 4.4 -2.0 -0,3 5 7 -2.6 0.3 4.6 -2.5 3. B 2.4 4.3 4.6 3.9 1.7 2.9 2.8 -1.2 2.0 4.2 3.8 -1.7 1.0 2.8 4.4 5.4 2.3 -0.2 -I'.t AVERAGE FOR 'ERIOD -9.3 7.0 9.3 2,2 2.8 -4.1 7.8 -O.S -6.7 1.1 6.5 5.7 90.03 93.62 99.46 101.19 103.57 100.12 104.41 107.37 107.25 103.40 108.22 109.53 109.00 112.58 114.79 117.B7 123.26 129.22 131.60 135.02 139.40 138.46 130.43 143.63 149.47 150.06 146.79 151.42 156.94 164.54 169.59 169.47 170.02 165.04 AVERAGE FOR PERIOD 5.7 -3.0 4,0 10.0 -7.1 3.3 1.1 2,6 3 . 5 . 3 . 1 3 . 1 UO. 54 113.23 115.88 119.66 125.37 130.73 132.73 136.59 140.50 137.29 139.36 145.69 150.94 149.92 148.46 152.56 159.45 167.39 170,53 169.55 166.97 163.85 8.1 7.0 5.5 3.0 -11.0 14.6 -1.5 -0.4 1.8 5.0 B8.43 97.17 99.56 103.29 102.41 100,64 106.38 100.29 105.77 104.84 108.62 108.43 -19.8 7.2 -0.4 5.4 8.8 5.3 2.4 3.4 1.9 89.41 95.67 99.44 100.75 103.32 99.36 105.13 107.01 107.48 103,16 100.37 109.65 109.41 113.24 115.28 118.23 123.54 129.72 131.85 135.84 140.21 137.31 138.38 144.02 150.06 151.41 146.75 151.71 158.09 165.79 170.55 168.05 169.86 165.60 2.3 -0.1 -2.7 21.2 -8.7 1.2 -3.1 (COMPOUND 1949... 1950.. 1951.. 1952.. 1953.. 1954.. 1955.. 1956.. 1957, 1958.. 1959.. I960.. 1961.. 1962.. 1963.. 1964.. 1965.. 1966.. 1967.. 196B.. 1969.. 1970.. 1971.. 1972.. 1973.. 1974.. 1975.. 1976.. 1977.. 1978.. 1979.. 1980.. 1981.. J.982., 1983.. AVERAGE FOR PERIOD O F EMPLOYEE-HOURS) 89.69 93.32 99.74 99.70 104.19 99.69 104.56 107.39 107.56 102.14 109.42 109.89 108.91 112.90 114.91 117.72 122.76 129.53 131.23 134.97 139.58 138.75 138.56 143.53 149.52 151.58 145.31 151.07 157.08 165.17 170.33 168.30 170.94 166.58 6.8 4.7 1.9 -4.6 10.2 2.4 3.8 -2.0 -0.2 5.6 1.4 -2.5 0.5 3.7 -1.2 2.3 2.6 2.0 4.3 4.7 4.0 1.4 3.1 2.4 -1.8 2.1 4.2 3.5 -1.8 0.8 2.1 4.4 5.4 1.9 -0.3 -1.7 -1.6 (OCTOBER 1983) C. Historical Data for Selected Series—Continued Year Jan. 1 Feb. Mar. Apr. May June Sept. Aug. July 117. YIELD.ON MUNICIPAL BONDS, 20-BOND AVERAGE (PERCENT) Oct. Nov. II Q 2.09 1.72 2.09 2.38 2.60 2.36 2.57 3.22 3.04 3.34 3.68 3.40 3.47 3.07 3.27 3.13 3.54 3.86 4.43 4.82 6.82 5.46 5.21 5.05' 5.12 7.05 2.18 2.03 1.64 2.08 2.54 2.44 2.43 2.50 3.09 3.00 3.36 3.63 3.39 3.23 3.10 3.21 3.11 3.63 3.54 4.38 5.03 6.35 5.25 5.24 5.16 5.27 2.16 2.01 2.04 2.06 2.81 2.48 2.40 2.64 3.27 2.95 3,56 3.57 3.48 3.14 3.14 3.23 3,19 3,66 3.82 4.46 5.43 6,82 5.74 5.36 5.16 5,96 2.14 1.69 2.06 2.23 2.93 2.30 2.57 2.80 3.49 3.33 3.69 3.42 3.52 3.21 3.18 3.20 3.29 4.06 4.04 4.31 6.00 6.33 5.75 5.36 5.33 6.72 2.12 1.75 2.07 2.38 2.66 2.34 2.51 3.11 3.28 3.37 3.62 3.44 3.43 3.04 3.26 3.19 3.47 3.89 4.36 4.64 6.40 5,93 5.16 5.08 5.12 6.74 2.15 1.92 1.95 2.19 2.73 2.39 2.48 2.76 3.28 3.16 3.56 3.52 3.46 3.16 3.17 3.21 3.26 3.81 3.94 4.45 5.72 6.35 5.48 5.26 5.19 6.17 7.23 6.64 5.59 6.16 6.28 8.58 12.11 11.39 7.38 6.18 5.57 6.27 7.20 9.62 12.54 9.90 6.64 5.68 6.02 6.52 8.60 11.33 11.66 AVERAGE FOR PERIOD 2.20 2.03 1.58 2.07 2.55 2.42 2.44 2.44 3.00 3.02 3.36 3.60 3.31 3.21 3.15 3.14 3.09 3.64 3.52 4.31 4.98 6.36 5.23 5.2R 5.13 5.20 2.18 2.01 1.74 2.08 2.65 2.40 2.44 2.57 3.10 3.06 3.30 3.56 3.45 3.14 3.05 3.28 3.18 3.72 3.55 4.54 5.26 6.03 5.17 5.31 5,29 5.40 2.14 2.03 1.94 2.04 2.65 2.47 2.41 2.70 3.13 2.96 3.39 3.56 3.50 3.06 3.10 3.28 3.15 3.56 3.60 4. 34 5.19 6.49 5.37 5.43 5,15 5.73 2.14 2.00 2,00 2.06 2.78 2.50 2.38 2.68 3.27 2.92 3.58 3.60 3.43 3.11 3.11 3.20 3.17 3.65 3.89 4.54 5.33 7,00 5.90 5.30 5.14 6.02 2.20 1.99 2.19 2.13 2.99 2.48 2.41 2.54 3.41 2.97 3.72 3.55 3.52 3.26 3.21 3.20 3.24 3.77 3.96 4.50 5.76 6.96 5.95 5.34 5.18 6.13 2.16 2.01 2.15 2.15 2.98 2.32 2.54 2.65 3.40 3.09 3.71 3.50 3.52 3.28 3.22 3.18 3.27 3.95 4.02 4.33 5.75 6.53 6.06 5.41 5.40 6.68 2.12 1.83 2.02 2.24 2.90 2.26 2.60 2.80 3.54 3.36 3.58 3.34 3.52 3.23 3.13 3.19 3.24 4.12 3.99 4.21 6.00 6.20 5.82 5.30 5.48 6.71 2.14 1.84 2.01 2.30 2.90 2.31 2.58 2.94 3.54 3.54 3.78 3.42 3.53 3.11 3.20 3.23 3.35 4.12 4.12 i1.38 >.26 5.25 5.37 5.36 i. 10 5.76 2.16 1.79 2.06 2.38 2.75 2.34 2.51 2.95 3.42 3.45 3.62 3.53 3.42 3.02 3.20 3.25 3.40 3.94 4.30 4.49 6.09 6.39 5.06 5.18 5.05 6.57 1975... 1976... 1977... 1978... 1979... 1980... 1981... 1982... 1983... 7.07 5.87 5.71 6.47 7.35 9.68 13,28 6.94 5.89 5.62 6.31 8.16 10.10 12.97 6.92 5.89 5.61 6.33 9.17 10.16 12.82 6,60 5.73 5.80 6.29 8.63 10.62 12.59 6.87 5.75 6.03 6.25 7.59 10.78 11.95 6.87 5.62 6.22 6.13 7.63 10.67 12.45 6.79 5.63 6.28 6.13 8.13 11.14 12.28 6.61 5.62 6.12 6.20 8.67 12.26 11.23 S.51 3. 51 6.30 5.64 6.13 7.08 9.11 12.83 9.69 6.29 5.49 6.19 7.30 9.56 11.89 10.06 5.94 5.57 6.50 7.22 10.20 12.91 9.96 6.98 5.88 5.65 6.37 8.23 9.98 13.02 6.78 5.70 6.02 6.22 7.95 10,69 12.33 4.32 4.08 4.27 4.32 4.81 4.56 4.75 4.32 4.08 4.26 4.32 4.78 4.56 4.73 4.35 4.31 4.09 4.27 4.34 4.69 4.57 4.70 4.35 5.63 5.60 6.23 5.61 5.60 6.23 5*5S 5.58 4*59 4.62 4.77 5.34 5.40 5.64 5.*70 5.54 5*69 5.53 5*90 5.67 ... 5.61 S.5B 5.60 4.35 4.31 4.08 4.27 4.34 4.69 4.56 4.70 5. 36 5.56 5.5fl 4.35 4.30 4.12 4.29 4.34 4.64 4.59 4.68 5.35 5.51 5.57 6.00 5.69 5.89 5.66 5,82 5.65 4.35 4.31 4.08 4.26 4.34 4.75 4.56 4.73 1961.* 1962. 1963. 1964. 5.45 1966. 1967. 1968. 1969. 1970. 1971. 5.70 6.62 6.81 1973. 1974. 1975. 1976. 1977. 1978. 1979. 1980. 1981. 1982. 1983. 7*55 8.99 9.06 8.45 9.18 10.24 12.60 14.23 17.38 5.45 6.46 6.78 7.99 9.29 7*56 8.54 8.84 9.04 8.55 10.24 14.79 17.10 5.45 6.00 6.35 6.63 8.05 9.20 7.32 7.45 7.63 8.66 8.69 8.65 9.35 10.26 14.63 15.04 16.41 4.59 4.63 4.78 5.32 5.39 5.64 5.37 5.80 5.50 4.32 4.08 4.27 4.31 4.82 4.56 4.73 4.95 5.63 5.57 5! 60 5*59 5.68 5.58 5.66 5.57 5.'69 5.56 5.70 5.55 4*62 4.60 4.71 5.35 5.43 5.58 5.77 5.64 7.73 9.17 8*82 8.64 9.44 13*45 15.91 16.31 AVERAGE FOR PERIOD 4.32 4.08 4.30 4.30 4.86 4.56 4.70 4.92 4*27 4.29 2.12 1.74 2.05 2.38 2.62 2.32 2.46 3.16 3.37 3.32 3.55 3.40 3.41 3.04 3.30 3.18 3.46 3.86 4.34 4.60 . 6.30 5.93 5.20 5.02 5.18 6.61 © 4.34 4.08 4.31 4.30 4.82 4.56 4.67 4.87 4*19 4.29 6.29 6.94 8.06 9.10 7.37 8.94 12.92 10.66 4.34 4.08 4.31 4.30 4.74 4.56 4.64 4.81 5.38 5.35 5.75 4.34 5.45 J.09 J.52 4.35 4.09 4. 29 4.30 4.67 4.57 4.63 4.81 5.35 5.37 5.71 4.35 5*70 5.S4 ... 5.60 5.45 5.46 5.45 5.46 5.46 5.46 5.45 5.45 5,45 5*45 5.45 5.46 6.58 6.60 7.35 8.36 9.07 7.92 6.81 6.77 7.36 8.46 8.90 7.62 7.57 8.86 6.57 6.59 7.35 8.37 9.06 7.91 7.55 10.30 9.32 8.93 8.77 9.81 10.58 13.54 17.96 14.61 6*77 6.81 7.50 8.62 8.40 7,59 7, 56 8.78 9.51 9.32 8.28 8.96 10.23 12.24 14.08 16.43 12.80 ... 6* 41 8.19 9.85 9.13 8.99 8.77 9.96 10.46 12.39 16.76 16.29 ... 6*65 7.29 8.48 8.97 7.75 7.57 8.97 10.13 9.53 8.55 8.81 9.98 ... 6*48 6.81 7.89 9.46 9.06 9.05 6.77 6.63 6.63 7.28 8.40 9.01 7.84 7.56 9*18 10.38 9.74 8.82 8.74 9.81 11.37 14.26 18.55 14.03 9.74 10.61 11.99 16. 33 16.19 10.49 11.85 16.31 16.73 14*38 17.43 12.99 9.41 8.45 8.81 10.04 12.41 14.47 15.96 12.82 8.84 8.97 8*55 10.25 14*69 16.96 12.43 16.18 16.41 10.18 9.40 8.91 8,76 9.86 10.60 13.40 17.76 14.98 6.74 7.36 8.53 8.76 7.65 7.57 8,87 5*49 ... ... 6. 56 7.53 9.42 6.43 8.86 10.08 14.31 16.61 12.87 16.31 15.30 (§> AVERAGE FOR PERIOD 1.37 2.44 2.93 2.72 2. 48 3.99 1.45 2.14 2.91 3.48 3.90 1.29 2.50 3.00 1.67 2. 40 3.97 2.54 2.37 3.00 3.48 3.98 1.35 2.50 2.96 1.20 2. 80 3.84 2.02 2.70 2,98 3.43 4.04 1.43 2.62 3.00 1.26 1.43 2.75 3.00 0.63 1.62 2.71 3.00 0.93 1.68 2.74 2.99 0.68 1. 21 1.90 2.74 3.24 1.53 1.07 2.18 2.95 3.50 1,76 0.90 2.24 2.96 3.50 1.80 0. 91 2.35 2.88 3.22 2.27 3.92 1.50 2.69 2.90 3.47 4.09 3.85 1.98 2.29 3.00 3.50 4.10 3.32 1.73 2.68 2.99 3.50 4.04 3.23 1.16 2.71 3.02 3.42 4.09 2.98 2.00 2.93 3.49 3.50 4.12 1967.!.* 1968... 1969... 1970... 1971... 4*94 4.60 6.30 8.98 4.14 5*00 4.72 6.64 8.98 3.72 4.53 5.05 6.79 7.76 3.71 4.05 5.76 7.41 8.10 4.15 3.94 6.12 8.67 7.94 4.63 3.98 6.07 8.90 7.60 4.91 1973... 1974... 1975... 1976... 1977... 1978... 1979.,. 1980... 1981... 1982... 1983... 5.94 9.65 7.13 4.87 4.61 6.70 10.07 13.82 19.08 13.22 6.58 6.97 6.24 4.77 4.68 6.78 10.06 14.13 15.93 14,78 7.09 9.35 5.54 4.84 4.69 6.79 10.09 17.19 14.70 14.68 7.12 10.51 5.49 4.82 4.73 6.89 10.01 17.61 15.72 14.94 7.84 11.31 5.22 5.29 5.35 7.36 10.24 10.98 18.52 14.45 8.49 11.93 5.55 5.48 5.39 7.60 10.29 9.47 3.79 6.02 8.61 7.21 5.31 4.55 10.40 12.92 6.10 5.31 5.42 7.81 10.47 9.03 19.04 12.59 3.89 6.03 9.19 6.61 5.57 4.80 10*50 12.01 6.14 5.29 5.90 8.04 10.94 9.61 17.82 10.12 2.60 1.80 2.90 3.48 3.45 4.01 5.40 4.00 5.78 9.15 6,29 5.55 4.87 10*78 11.34 6.24 5.25 6.14 8.45 11.43 10.87 15.67 10.31 2*47 2.26 2.90 3.50 3.36 4.08 5.53 3. SB 5.92 9.00 6.20 5.20 5.04 10.01 10.06 5.82 5.03 6.47 8.96 13.77 12.81 15.08 9.71 2.44 2.62 2.94 3.48 3.52 4.10 5.77 4.12 5.81 8.85 5.60 4.91 5 • 06 10.03 9.45 5.22 4.95 6.51 9.76 13.16 15.85 13.31 9.20 19.10 14.15 7.47 7.58 4*60 4.65 5*68 5.57 6.51 6.53 7.42 8.36 9.11 7.97 7.79 9.46 9.16 9.03 4.34 4*23 4.30 5.62 5.59 5.45 8.16 9.12 7.67 7.52 7*80 9.36 4.32 4.08 4.27 4.32 4.60 4.56 4.74 5.41 6.45 6.51 7.52 8.35 9.16 7.89 1954 1955... 1956... 1957... 1958... 1959... 1960... 1961... 1962... 1963... 1964.., 1965.., These series contain no revisions but are reprinted for the convenience of the user. 4.33 4.08 4.31 4.30 4.81 4.56 4.67 4.67 5.45 119. FEDERAL FUNDS RATE (PERCENT) NOTE: 4.25 4.29 6.32 6.44 8.06 9.11 7.75 Annual © 2.16 2.06 1.61 2.09 2.43 2.50 2.40 2.50 3.18 2.91 3.42 3.72 3.40 3.34 3.10 3.22 3.06 3.52 3.54 4.29 4.85 6.65 5.36 5.12 5.05 5.22 1949... 1950. 1951. 1952. 1953. 1954. 1955. 1956. 1957. 1958. 1959. IV Q |Q 1949. .. 1950... 1951... 1952... 1953... 1954... 1955... 1956... 1957.., 1958... 1959... 1960... 1961... 1962... 1963... 1964... 1965... 1966... 1967... 1968... 1969... 1970... 1971... 1972... 197 3... 1974... 118. SECONDARY MARKET flELDS ON FHA MORTGAGES (PERCENT) III Q Dec. 1. 26 2.48 2.94 2.98 2.42 3.99 1 1.98 1 2.33 1 2.93 1 3.38 1 3.85 1 4.32 5 .40 4.51 6.02 8.97 4.90 4.14 5 . 33 9.95 8.53 5.20 4.65 6.56 10.03 13.78 18.90 12.37 8.95 1.34 2.48 2.96 1.86 3.93 2.00 2.40 2.96 3.46 3.97 4. 56 4.82 4.79 6.58 8.57 3.86 3 . 54 6.54 9.32 6.30 4.83 4.66 6.76 10.07 15.05 16.57 14.23 1.49 2.69 3.00 0.94 3.08 3.70 1.74 2.55 2.96 3.49 4.08 4.91 3.99 5.98 8.33 7.88 4.56 4. 30 7.82 11.25 5.42 5.20 5.16 7.28 10.18 12.69 17.78 14.51 1.92 2.81 3.24 1.32 3. 57 2.94 1. 68 2.85 3.33 3.46 4.07 5.41 3.89 5.94 6.98 6.70 5.4ft 4.74 10.56 12.09 6.16 5.28 5.82 8.10 10.95 9.84 17.58 11.01 X.02 2.36 2.93 3.23 2.16 3. 99 2.30 2.40 2.92 3.45 3.58 4.17 5.57 4.17 5.92 8.94 5.57 4.75 5.14 10.00 9.35 5.41 4.68 6.51 9.58 13.58 15.85 13.59 9.29 1*78 2.73 3.11 1.57 3.22 1.96 2.68 3.18 3.50 4.07 5.11 4.22 5.66 8.21 7.17 4.66 4.44 8.74 10.51 5.82 5.05 5.54 7.93 11.19 13.36 16.38 12.26 (OCTOBER 1983) 99 C. Historical Data for Selected Series—Continued Year IQ II Q III Q IV Q 50. GROSS NATIONAL PRODUCT IN 1972 DOLLARS (ANNUM, RATE, BILLIONS OF DOLLARS) 1949... 1950... 1951... ( t 1952... t . 1 9 5 3 , . . ... 1954... 1955... 1956... 1957... 1958... 1959... 1960... 1961... 1962... 1963... 1964... 1965... 1966... 1967... 1966... 1969... 1970... 1971... 1 9 7 2 . . . * ii 1973.,. 1974.,.. 1975... 1976... 1977.,. 1976.,. 1979.,. 1980.•. 1981... 1982... 1983... 492. <i 512. <J 564.' 1 593.' t 623.1 ! 610.!I 644.] L 666. () 683.! > 665.!1 711.! i 740.7 737.7 789.2 815.0 864.2 906.7 975.4 997.8 1036.6 1084.2 1081.4 1111.5 1157.2 1246.8 1253.3 1204.3 1285.0 1341.3 1400.0 1472.6 1496.4 1510.1L 1465.8 490.3 526.4 575.9 594.3 628.3 608.1 653.2 670.2 684.1 669.9 726.2 738.4 750.1 798.4 826.7 873.7 919.7 979.3 1004.2 1055.7 1088.6 1083.0 1116.9 1178.5 1248.3 1254.7 1218.9 1293.7 1363.3 1437.0 1469.2 1461.4 1512.5 1489.3 494.8 543.8 587.9 600.5 624.4 616.9 663.2 670.7 688.5 685.9 721.2 737.7 759.6 805.5 839.8 880.9 934.1 987.9 1016.2 1068.2 1092.0 1093.3 1125.7 1193.1 1255.8 1246.6 1246.1 1301.1 1365.8 1448.8 1486.6 1464.2 1525.8 1485.7 t t . . ,t t, ., 11 t, 11 t , -4.2 19.1 6.0 3.2 5.7 -4.9 10.3 -1.6 3.0 -7.8 5.2 7.2 3.1 5.3 3.5 7.5 9.3 8.0 0.5 3.7 4.7 -1.5 10.3 7.9 10.9 -4.0 -6.2 9.1 6.9 3.4 1.1 1.9 9.0 -5.5 -1.8 11.2 8.4 0.4 3.3 -1.6 5.8 2.0 0.4 2.7 8.5 -1.2 6.9 4.8 5.8 4.5 5.8 1.6 2.6 7*6 1.7 0.6 2.0 7.6 0.5 0.4 4.9 2.7 6.7 11.0 -0.9 -9*0 0.7 1.0 3.6 13.9 8.6 4.2 -2.4 5.9 6.3 2.6 9.9 -2*8 -0.4 5.2 3.6 6.5 3.3 6.4 3.6 4.9 4.8 1.2 3.9 3.2 5.0 2.4 -2.5 9.2 2.3 6.8 3.3 4.8 0.8 3.6 -1.0 490.8 556.3 589.1 614.6 618.2 628.4 669.5 678.4 679.1 702.5 727.9 732.1 779.0 808.0 848.6 886.8 956.6 996.6 1027.3 1071.8 1085.6 1084.7 1135.4 1214.6 1266.1 1230.3 1257.3 1313.1 1368.4 1468.4 1489.3 1477.9 1506.9 1480.7 1 1 t t t t t -5.4 10.8 14.1 2.7 6.1 -0.6 12.6 1.8 8.1 -7.2 10.0 11.9 3.4 11.6 7.7 12.9 20.0 21.3 5.8 17.9 20.9 10.0 40.3 36.6 50.0 11.0 6.0 50.2 62*3 42.8 53.9 73.0 130.6 -10.8 -3.5 9.5 7.9 0.2 3.3 -0.2 8.0 5.6 2.1 3.9 13.6 -0.6 11.0 8.5 8.7 8.7 12.9 11.5 7.9 26.0 16.2 14.3 19.6 29.3 24.1 36.1 36.9 26.6 60.3 107.8 42.4 5.9 45.9 48.8 1.9 17.7 6.7 S.7 -1.0 4.4 8.6 5.1 7.1 13.2 -1.6 1.7 9.0 6.2 11.1 8.6 14.7 10.6 17.1 17.7 17.9 17.3 17.7 24.4 30.1 27.8 61.8 30.4 59.3 63.0 76.9 60.3 92.4 20.5 492.2 534.8 579.4 600.8 623.6 616.1 657.5 671.6 663.8 680.9 721.7 737.2 756.6 800.3 632.5 876.4 929.3 984.8 1011.4 1058.1 1087.6 1085.6 1122.4 1185.9 1254.3 1246.3 1231.6 1298.2 1369.7 1438.6 1479.4 1475.0 1513.8 1485.4 -2.1 11.5 4.2 12.2 -5.3 6.9 6.2 6.6 -5.4 13.1 6.0 -3.2 14.4 5.4 10.6 6.0 20.6 14.3 17.6 15.4 6.7 5.4 19.2 37.4 39.0 22.2 43.3 43.5 34.5 79.1 48.1 96.9 27.3 lfi.9 0.5 8.7 8.3 3.7 3.8 -1.2 6.7 2.1 1.8 -0.4 6.0 2.2 2.6 5.8 4.0 5.3 6.0 6.0 2.7 4.6 2.8 -0.2 3.4 5.7 5.8 -0.6 -1.2 5.4 5.5 5.0 2.8 -0.3 2.6 -1.9 NOTE: Th*!,e strits contain revisions beginning with 1980. V«r-to-y«sar d1fferences and percent changes are computed from annual data. 1 100 1949. 1950. 1951. 1952. 1953. 1954. 1955. 1956. 1957. 1958. 1959. 1960. 1961. 1962. 1963. 1964. 1965. 1966. 1967. 1966. 1969. 1970. 1971. 1972. 1973. 1974. 1975. 1976. 1977. 1978. 1979. I960. 1981. 1982. 1983. IV Q HQ -5.3 21.8 a.i 4.6 8.6 -7.7 15.7 -2.7 5.1 -13.6 9.0 12.8 5.6 10.2 7.0 15.6 19.9 18.6 1.2 9.3 12.4 -4.2 26.8 21.8 32.0 -12.8 -26.0 27.7 26.2 11.6 4.2 S.6 32.2 -21.1 -2.3 13.8 11.5 0.6 5.1 -2.4 9.1 3.4 0.6 4.4 14.7 -2.3 12.4 9.2 11.7 9.5 13.0 3.9 6.4 19.1 4.6 1.6 5.4 21.3 1.5 1.4 14.6 8.7 22.0 37.0 -3.4 -35.0 2.4 3.5 -4.0 12.5 1.2 14.1 -6.2 11.5 6.3 7.7 -9.4 16.6 6.7 -5.6 19.4 2.5 8.8 5.9 22.7 9.7 11.1 3.6 -6,4 -8.6 9.7 21.7 10.3 -16.5 11.2 12.0 2.6 19.6 2.7 13.7 -18.9 -5.0 4.5 17.4 12.0 6.2 -3.9 8.6 10.0 0.5 4.4 16.0 -5.0 -0.7 9.5 7.1 13.1 7.2 14.4 8.6 12.0 12.5 3.2 10.3 8.6 14.6 7.5 -7.9 27.2 7.4 22.5 11.8 17.4 2.8 13.3 -3.6 200. GROSS NATIONAL PRODUCT IN CURRENT DOLLARS (ANNUAL RATE, BILLIONS OP DOLLARS) 1949. 1950. 1951. 1952. 1953. 1954. 1955. 1956. 1957. 1958* 1959. 1960. 1961. 1962. 1963. 1964. 1965. 1966. 1967. 1966. 1969. 1970. 1971. 1972. 1973. 1974. 1975. 1976. 1977. 1978. 1979. 1980. 1981. 1982. 1983. 260.5 267.6 320.4 341.9 366.1 362.5 388.2 412.8 440.2 436.6 477.0 506.9 508.2 554.2 5B2.O 625.3 668.8 738.5 780.7 641.2 921.2 972.0 1049.3 1142.4 1283.5 1367.7 1479.6 1672.0 1834.8 2031.7 2335.5 2572.9 2866.6 3021.4 257.0 277.1 326.3 342.1 369.4 362.3 396.2 418.4 442.3 440.7 490.6 506.3 519.2 562.7 590.7 634.0 6B1.7 750.0 768.6 667.2 937.4 966.3 1068.9 1171.7 1307.6 1423.8 1516.7 1698.6 1895.1 2139.5 2377.9 2578.8 2912.5 3070.2 256.9 294.8 335.0 347.8 366.4 366.7 404.8 423.5 449.4 453.9 489.0 SOR.O 52ft.2 568.9 601.8 642.8 696.4 760.6 BOS. 7 8B4.9 955.3 1003.6 1086.6 1196.1 1337.7 1451.6 1578.5 1729.0 1954.4 2202.5 2454.8 2639.1 3004.9 3090.7 1949. 1950. 1951. 1952. 1953. 1954. 1955. 1956. 1957. 1958. 1959. 1960. 1961. 1962. 1963. 1964. 1965. 1966. 1967. 1968. 1969. 1970. 1971. 1972. 1973. 1974. 1975. 1976. 1977. 1978. 1979. 1980. 1961. 1962. 1983. -7.9 17.9 19.7 3.2 7.0 -0.7 14.1 1.7 7.7 -6.3 8.9 10.0 2.7 6.9 5.4 8.7 13.0 12.4 3.1 9.0 9.6 4.2 16.9 13.9 17.2 3.2 1.6 13.0 14.8 8.9 9.6 11.7 20.5 -1.4 -5.3 15.0 10.2 0.3 3.7 -0.2 6.5 5.5 1.9 3.7 11.9 -0.5 9.0 6.3 6.1 5.7 7.9 6.4 4.1 13.0 7.2 6.0 7.7 10.7 7.7 10.6 10.4 6.5 13.8 23.0 7.5 0.9 6.6 6.6 3,1 28.0 8.5 ,H .1 .0 i.O 7. 4.4 7,7 5.7 6.9 5.8 9.0 8.4 7.9 7.2 6.6 8.6 9.6 8.0 17.3 7.3 13.1 12.3 13.6 9.7 13.3 2.7 Annual DIFFERENCE1 2.4 42.6 44.6 21.4 22.8 -7.5 41.4 14.1 12.2 -2.9 40.8 15.5 19.4 43.7 32.2 43.9 52.9 55.5 26.6 46.7 29.5 -2.0 36. fl 63.5 6B.4 -8.0 -14.7 66.6 71.5 66.9 40.8 -4.4 38.6 -28.4 AVERAGE 256.8 306. 3 339.2 360.0 363.1 375.6 411.0 432.1 444.0 467.0 495.0 504. fl 542.6 574.3 612.4 64R.8 717.2 774.9 823.3 900.3 962.0 1009.0 1105.6 1233.5 1376.7 1473.6 1621.ft 1772.5 1980.9 2201.6 2502.9 2736,0 3032.2 3109.6 200C. CHANGE FROM PRECEDING PERIOD IN GNP, CURRENT DOLLARS (ANNUAL RATE, PERCENT) DIFFERENCE1 -1.2 2B.2 44.3 17.2 18.8 0.0 33.2 21.7 22.3 5.7 38.2 16.6 16.1 40.4 31.7 41.0 53.4 64.9 43.6 73.8 70.6 46.7 64.9 108.3 140.5 107.8 115.0 166.6 200.3 245.6 253.9 213.9 322.4 118.9 IQ SOB. DIFFERENCE FROM PRECEDING PERIOD IN GNP, 1972 DOLLARS (ANNUAL RATE, BILLIONS OF DOLLARS) PERCENT CHANGE' -3.3 9.5 0.8 9.7 -3.9 7.7 3.6 4.7 -5.3 10.0 3.8 -3.0 10.6 1.2 4.3 2.7 10.1 3.6 4.4 1.4 -2.3 -3.1 3.5 7.5 3.3 -5.2 3.6 3.7 0.8 5.5 0.7 3.6 -4.9 -1.3 200B. DIFFERENCE PROM PRECEDING PERIOD IN GNP, CURRENT DOLLARS (ANNUAL RATE, BILLIONS OP DOLLARS) 1949.. 1950*. . .i 1951.. 1952.. , , 1953.. 1954.. , 1955.. . 1956.. 1957.. 1958.. 1959.. . 1960.. 1961.. 1962*. 1963.. 1964*. 1965.. . 1966.. 1967.. . . 1966.. 1969.. 1970.. 1971.. 1972.. 1973.. 1974.. 1975.. , 1976.. 1977.. . , 1979.. 1979.. 1980.. 1981.. 1982.. 1983.. Year AVERAGE 3OC. CHANGE PROM PRECEDING PERIOD IN ONP, 1972 DOLLARS (ANNUAL RATE, PERCENT) 1949.. 1950.. 1951.. 1952.. 1953.. 1954.. 1955.. 1956.. 1957.. 1958.. 1959.. I960.. 1961.. 1962*. 1963.. 1964.. 1965.. 1966*. 1967*. 1968.. 1969.. 1970.. 1971*. 1972,. 1973*. 1974,. 1975.. 1976., 1977.. 1978.. 1979.. 1980.. 1981*. 1982.. 1983... Annual 258, 3 286.5 330.8 348.0 366.6 366.8 400.0 421.7 444.0 449.7 487.9 506.5 524.6 565.0 596.7 637.7 691.1 756.0 799.6 873.4 944.0 992.7 1077.6 1185.9 1326.4 1434.2 1549.2 1716,0 1916.3 2163.9 2417.6 2631.7 2954.1 3073.0 PKRCENT1 CHANGE -3.2 16.6 5.1 14.6 -5.6 10.0 6.3 B.4 -4.8 12.1 5.0 -2.5 11.3 3.9 7.3 3.0 12.5 7.7 9.0 7.2 2.8 2.2 7.3 13.1 12.2 6.3 11.4 10.5 7,2 IS.2 B.I 15.5 3.7 2.5 -0.5 10.9 15.S 5.2 5.4 0.0 9.0 5.4 5.3 1.3 6.5 3.8 3.6 7.7 5.6 6.9 B.4 9.4 5.8 9.2 8.1 5.2 8.6 10.1 11.8 e.i 8.0 10.9 11.7 12.8 11.7 8.6 12.2 4.0 (OCTOBER 1983) C. Historical Data for Selected Series—Continued Year IQ IV Q II Q 213. FINAL SALES IN 1972 DOLLARS (ANNUAL RATE, BILLIONS OF DOLLARS) 1949.... 1950.... 1951.... 1952 1953.... 1954 1955 1956.... 1957.... 1958.... 1959 I960.... 1961 1962 1963.... 1964.... 1965 1966 1967 1968 1969.... 1970 1971 1972 1973.... 1974 1975 1976.... 1977 1978.... 1979.... 1980 1981 1982.... 1983 492.9 508.2 550.9 586.4 619.2 613.9 638.2 659.3 681.0 672.3 706.0 728.0 741.8 778.8 807.6 8S7.3 891.9 959.8 9R3.3 1031.2 1072.5 1079.2 1100.3 1150.9 1230.7 1240.1 1218.6 1274.9 1330.8 1382.8 1459.7 1496.9 1507.0 1495.9 497.4 518.7 556.0 597.0 623.2 612.2 645.2 664.7 681.2 676.1 713.6 735.1 748.3 790.4 818.8 866.3 908.3 962.2 996.9 1043.5 1077.0 1077.9 1106,5 1166.5 1233.1 1242.1 1230,2 1282.4 1349.5 1418.6 1455.4 1463.6 1503.6 1492.7 497.4 535.8 573.3 595.1 622.5 619.6 655.4 665.9 6B4.8 685.6 719.8 734.3 753.2 797.9 831.7 875.4 923.1 974.3 1004.4 1058.4 1078.3 1086.8 1118.7 1180.3 1242.0 1239.1 1245.1 1293.8 1367.0 1435.5 1481.9 1474.4 1509.7 1487.0 I960.. 1961.. 1962.. 1963.. 1964.. 1965.. 1966.. 1967.. 1968.. 1969.. 1970.. 1971.. 1972.. 1973.. 1974.. 1975.. 1976.. 1977.. 1978,. 1979.. 1980.. 1981.. 19B2.. 1983.. 21R.1 219.1 265.9 282.7 303.0 297.1 319.7 342.3 363.0 357.5 392.7 416.5 414.8 453.4 476.2 511.9 553.8 613.3 647.2 696.9 761.5 798.1 849.4 930.7 1052.3 1133.1 1180.4 1346.0 1471.0 1653.4 1907.4 2076.2 2295.8 2419.7 213.0 229.4 272.4 283.1 305.2 297.3 328.2 347.3 365.1 358.3 405.9 416.3 424.0 459.5 4RS.2 520.8 566.2 622.6 653.8 715.6 773.9 808.8 863.9 946.1 1071.4 1155.1 1210.9 1363.9 1528.3 1737.2 1941.3 2072.5 2337.2 2448.9 213.2 244.8 276.9 288.3 303.8 300.8 334.1 350.3 368.9 369.1 400.4 416.3 432.1 464.3 492.4 530.4 576.5 633.0 666.5 731.6 788.5 818.6 876.9 971.2 1094,9 1170.7 1264.2 1388.6 1584.6 1792.0 1993.6 2117.7 2423.4 2458.9 AVERAGE 498.4 534.2 582.1 607.4 623.2 627.0 660.2 673.0 682.1 697.2 719.2 737.4 771.3 802.6 841.9 878.2 946.7 975.8 1012.2 1063.2 1078.6 1083.3 1131.7 1205.1 1242.4 1217.5 1259.5 1310.6 1378.3 1453.2 1491.6 1482.5 1500.9 1503.4 NOTE: 336.2 361.5 365."1 375. L 395. j 399. iJ 414.(} 441. () 452. 7 452., 2 474.' I 488. 2 493. <5 519.'1 533. > 563. 3 599.'I 639.(3 665.0 690. 5 710. 5 737.' I 771. L 792. 3 855. 2 860. 2 845. L 899. 5 919. 5 973. » 1011. 1 1025. 3 1040. 7 1055. L 336.2 359.4 373.7 379.0 401.2 397.5 423.7 444.5 455.5 454.9 482.2 490.9 500.6 524.1 538.7 579.5 607.4 642.1 671.1 702.2 716.8 752.5 779.9 798.7 662.3 859.7 891.4 904.1 933.9 982.8 1011.7 1012.0 1045.6 1060.2 336.5 362.2 375.6 387.3 399.7 403.9 430.fi 446.9 457.7 464.7 479.2 490.9 505.8 526.7 544.6 586.7 623.5 649.6 676.2 703.9 729.8 760.1 780.7 812.4 867.9 859.4 878.2 908.9 952.2 994.2 1019.8 1019.2 1068.1 1059.3 1949.. 1950.. 1951.. 1952.. 1953.. 1954.. 1955.. 1956.. 1957.. 1958.. 1959.. 1960.. 1961.. 1962.. 1963.. 1964.. 1965.. 1966.. 1967.. 1968.. 1969.. 1970.. 1971.. 1972.. 1973.. 1974.. 1975.. 1976.. 1977.. 1978.. 1979.. 1980.. 1981.. 1982.. 1983.. 224. 210.4 256.8 281.5 297.9 296.5 309.0 340.4 357.0 363.3 382.0 404.2 413.6 444.1 470.7 500.2 536.6 593.2 643.4 681.5 746.1 793.4 817.3 895.9 1006.7 1126.1 1184.0 1302,0 1418,4 1618.1 1858.4 2024.5 2200.1 2435.6 2474.0 338.2 368.2 375.6 391.2 400.1 411.7 437.8 452.5 456.2 471.0 483.0 489.0 515.0 529.2 552,5 593.5 634.8 655.9 681.6 708.5 732.8 756.2 785.2 838.1 873.3 850.8 885.1 914.6 965.9 1004.8 1020.1 1029.6 1064.3 1066.1 These series contain revisions beginning with 1980. 496.6 524.2 565.6 596.5 622.1 618.2 649. B 665.8 682.2 682.7 714.7 733.7 753.7 792.4 825.0 869.3 917.5 968.0 999.2 1049.1 1076.6 1081.8 1114.3 1175.7 1237.1 1234.7 1238.4 1290.4 1356.4 1422.6 1472.2 1479.4 1505.3 1494.8 213.6 237.6 274.1 287.9 302.1 301.1 330.5 349.4 365.2 366.9 400.8 415.7 428.8 462.0 483.5 524.9 572.4 628.1 662.2 722.5 779.3 810.7 871.5 963.6 1086.2 1160.7 1239.4 1379.2 1550.5 1760.3 1966.7 2116.6 2373.0 2450.4 1949.. 1950.. 1951.. 1952.. 1953.. 1954.. 1955.. 1956.. 1957.. 1958.. 1959.. I960.. 1961.. 1962.. 1963.. 1964.. 1965.. 1966.. 1967.. 1968.. 1969.. 1970.. 1971.. 1972.. 1973.. 1974.. 1975.. 1976.. 1977.. 1978.. 1979.. 1980.. 1981.. 1982.. 1983.. 227. AVERAGE 336.8 362.a 372.6 383.2 399.1 403.2 426.8 446.2 455.5 460.7 479.7 489.7 503.8 524.9 542.3 580.8 616.3 646.8 673.5 701.3 722. S 751.6 779.2 810.3 864.7 857.5 874.9 906.8 942.9 988.8 1015.7 1021.6 1054.7 1060.2 IV Q tlQ PER CAPITA GROSS NATIONAL PRi UCT IN 1972 DOLLARS (ANNUAL RATE, DOL RS) AVERAGE DISPOSABLE PERSONAL INCOME IN 1972 DOLLARS (ANNUAL RATE, BILLIONS OF DOLLARS) 1949. 1950. 1951. 1952. 1953. 1954. 1955. 1956. 1957. 1958. 1959. 1960. 1961. 1962. 1963. 1964. 1965. 1966. 1967, 1968. 1969. 1970. 1971. 1972. 1973. 1974. 1975. 1976. 1977. 1978. 1979. 1980. 1981. 1982. 1983. Year 217. 2 2 0 . NATIONAL INCOME IN CURRENT DOLLARS (ANNUAL RATE, BILLIONS OF DOLLARS) 1949.. 1950.. 1951.. 1952.. 1953.. 1954.. 1955.. 1956.. 1957.. 1958.. 1959.. Annual 1949. 1950. 1951. 1952. 1953. 1954. 1955. 1956. 1957. 1958. 1959. 1960. 1961. 1962. 1963. 1964. 1965. 1966. 1967. 1968. 1969. 1970. 1971. 1972. 1973. 1974. 1975. 1976. 1977. 1978. 1979. 1980. 1981. 1982. 1983. 3,322 3,398 3,681 3,805 3,928 3,783 3,921 3,988 4,015 3,844 4,024 4,122 4,039 4,253 4,328 4,526 4,687 4,983 5,040 5,183 5,369 5,299 5,376 5,533 5,904 5,880 5,598 5,913 6,113 6,314 6,570 6,600 6,592 6,424 3,293 3,477 3,741 3,794 3,946 3,753 3,961 3,992 4,003 3,855 4,092 4,095 4,091 4,288 4,376 4,561 4,741 4,989 5,060 5,267 5,379 5,290 5,386 5,622 5.898 5,874 5,652 5,941 6,198 6,465 6,537 6,427 6,588 6,425 3,309 3,577 3,801 3,817 3,903 3,789 4,003 3,977 4,010 3,930 4,046 4,074 4,126 4,309 4,429 4,582 4,799 5,018 5,106 5,315 5,380 5,322 5,412 5,677 5,918 5,822 5,761 5,959 6,283 6,499 6,595 6,421 6,629 6,393 3,267 3,643 3,791 3,889 3,847 3,841 4,021 4,002 3,938 4,007 4,066 4,024 4,213 4,305 4.4SR 4,596 4,900 5,047 5,148 5,318 5,332 5,262 5,442 5,765 5,952 5,730 5,798 5,998 6,277 6,568 6,586 6,464 6,529 6,355 DISPOSABLE PERSONAL INCO4E IN CURRENT DOLLARS (ANNUAL RATE, BILLIONS OF DOLLARS) 188.1 201.7 220.4 231.1 248.8 255.0 265.8 285.9 303.7 312.4 331.7 348.3 357.2 380.3 397.3 426.1 458.8 502.2 535.3 575.8 616.6 671.5 732.7 782.2 878.9 963.9 1035.2 1163.7 1255.2 1405.7 1S87.5 1771.7 1967.6 2127.9 187. 201. 225. 233. 253. 254. 272. 290. 307. 314. 339. 352. 362. 385. 402. 438. 468. 507. 543. 591. 630 692. 749 1789 2010 167.2 208.6 227.3 240.3 253.4 2S6.8 278.3 294.3 311.8 322.0 339.6 353.5 368.0 388.7 40ft. 3 445.7 402.7 518.1 552.0 596.1 649.1 705.8 757.6 815.6 925.3 1012.7 1109.4 1203.3 1335.5 1496.2 1674.3 1846.0 2092.0 2191.5 188. fl 214.3 230.5 245.3 253.7 261.9 282.7 300.6 311.9 327.1 343.5 353.9 375.3 392.5 416.0 451.9 493.7 526.7 561.3 608.8 659.9 711.5 767.4 849.0 950.3 1028.1 1134.5 1229.6 1373.5 1542.7 1714.9 1908.0 2120.5 2227.8 PER CAPITA DISPOSABLE PERS NAL INCOME IN 1972 DOLLARS (ANNUAL RATE, 2,267 2,396 2,385 2,404 2,493 2,477 2,525 2,638 2,660 2,612 2,683 2,717 2,703 2,799 2,633 2,951 3,098 3,268 3,359 3,453 3,518 3,613 3,729 3,787 4,050 4,036 3,928 4,139 4,190 4,390 4,511 4,524 4,543 4,562 2,251 2,382 2,428 2,462 2,499 2,461 2,600 2,650 2,666 2,662 2,688 2,710 2,747 2,818 2,872 3,052 3,203 3,299 3,398 3,502 3,595 3,700 3,753 3,865 4,090 4,013 4.061 4,163 4,317 4,460 4,524 4,469 4,640 4,558 2,251 2,411 2,417 2,475 2,490 2,517 2,630 2,670 2,645 2,666 2,698 2,668 2,785 2,820 2,902 3,076 3,251 3,321 3,416 3,515 3,600 3,669 3,764 3,977 4,106 3,963 4,081 4,178 4,367 4,494 4,511 4,503 4,612 4,576 Annual AVERAGE 3,298 3,524 3,754 3,826 3,906 3,792 3,976 3,990 3,992 3,909 4,057 4,079 4,117 4,289 4,398 4,566 4,782 5,009 5,088 5,271 5,365 5,293 5,404 5,649 5,918 5,826 5,702 5,953 6,218 6,462 6,572 6,478 6,584 6,399 AVERAGE 187,9 206.6 226.0 237,7 252.2 257.1 275.0 292.9 308.6 319.0 33S.4 352.0 365.8 386.8 405.9 440.6 475.8 513.7 547.9 593.4 638.9 695.3 751.8 810.3 914.5 998.3 1096.1 1194.4 1314.0 1474.0 1650.2 1828.9 2047.6 2176.5 AVERAGE 2,257 2,392 2,415 2,441 2,501 2,463 2,582 2,653 2,660 2,645 2,697 2,709 2,742 2,813 2,865 3,026 3,171 3,290 3,389 3.493 3,564 3,665 3,752 3,860 4,080 4,009 4,051 4,158 4,280 4,441 4,512 4,487 4,587 4,567 (OCTOBER 1983) 101 C. Historical Data for Selected Series—Continued Year IQ II Q IV Q III Q 230. PERSONAL CONSUMPTION EXPENDITURES, TOTAL, IN CURRENT DOLLARS (ANNUAL RATE, BILLIONS OF DOLLARS) 1949 1950 1951... . 1952... . 1951 1954 195 ; 1956 1957...... 1950-.... 196(1 1963, 196; 1963 1964 196« 1966 1967..... 1968. • 1969 1970 1971,. .. 1972. 1973 1974... . 1975 1976 1977 1978 1979 1980...... 1981 1982 1983,.... 176.6 182. 9 208. 3 211,1 22B.3 231. 9 246. 8 261.4 276.1 284.0 303. 5 319.8 328.5 347.5 367.2 390.6 417.9 456.2 478.7 517. 6 565.8 607.8 652.8 709.6 790.0 853.0 935.1 1047.8 1162.7 1276.4 1446.3 1620.5 1802.8 1938.9 178.2 186.8 203.8 215.1 229.9 234.3 251.9 263.9 278.3 286.8 309.1 325.9 333.1 353.0 371.2 397.9 424.3 460.6 487.5 530.2 576.9 616.9 666.0 727.3 802.9 878.6 961.6 1067.2 1186.8 1330.7 1476.0 1626.4 1835.8 1972.8 177.6 200.4 206.2 217.2 230.5 236.4 256.0 266.8 282.8 291.7 314,2 326.0 335.7 357.0 377.8 405.9 432.9 469.4 494.0 545.7 586.7 628.1 677.5 744.2 820.6 906.7 992.1 1094.2 1216.5 1367,5 1528.3 1683.4 1886.1 2008.8 180.1 197.8 209.9 225. 0 230.0 , 240.8 260.0 271.9 284.4 295.4 316.2 328.0 342.7 363.4 382.1 407.6 446.3 474.2 500.8 554.0 597.8 634.1 692. 6 767.0 834.3 914.1 1016.9 1127.9 1251.8 1411.3 1578.0 1741.9 1904.1 2046.9 232. PERSONAL CONSUMPTION EXPENDITURES, DURABLE GOODS, IN CURRENT DOLLARS {ANNUAL RATE, BILLIONS OF DOLLARS) 1949 1950. 1951. .. . 1952. 1953. 1954. 1955. 1956. 1957. 1958. 1959, 1960. 1961. 1962. 1963. 1964. 1965. 1966. 1967. . .* .. . . . . .. . I960. 1969. 1970. 1971. 1972. 1973. 1974. . . . 1975. 1976. 1977. 197B. 1979. . . . 1980. 1981. 1982. . .. 1983. 22.8 27.7 33.8 28.9 32.9 31.2 36.2 37.6 40.0 36.8 41.2 43.0 39.7 45.0 49.8 55.0 61.6 68.7 67.3 76.8 85.3 64.9 93.0 105.6 125.5 118.5 122.4 152.0 171.2 184.9 211.1 220.7 236.9 239.4 24.8 28.1 28.9 29.0 32.8 31.8 38.6 37.6 39.5 36.0 43.0 43.9 40.7 46.3 51.1 56.4 61.5 66.0 70.6 78.7 85.7 86.3 95.9 109.0 124.3 121.7 127.1 154.6 175.5 202.6 208.7 200.8 233.4 242.9 25.8 35.6 28.3 27.3 32.5 31.3 40.3 37.3 39.1 36.7 43.9 43.4 41.9 46.8 51.9 58.2 63.3 68.5 70.8 83.0 85.9 87.3 98.2 112.2 123.4 127.4 136.7 158.1 180.1 203.7 217.3 213.8 243.5 243.4 26.8 31.5 28.3 31.4 31.9 33.0 39.4 38.9 38.8 38.0 41.6 42.2 44.0 48.8 52.9 56.1 65.6 68.8 71.6 83.3 86.0 82.4 102.0 117.6 120.2 118.5 142.6 162.6 186.0 209.6 216.6 223.6 230.8 252.1 235. PERSONAL CONSUMPTION EXPENDITURES, TOTAL AS A PERCENT OF GNP (PERCENT) 1949..... 1950. 1951. 1952. , , , 19S3. 1954. 1955. 1956. 1957. 1958. 1959. 1960. 1961. 1962. 1963. 1964. 1965. 1966. 1967. 1968. 1969. 1970. 1971. 1972. 1973. 1974. 1975. 1976. 1977. 1978. 1979. 1980. 1981. 1982. 1983 . . . NOTE: 102 67.8 68.3 65.0 61.7 62.4 64.0 63.6 63.3 62.7 65.0 63.6 63.1 64.6 62.7 63.1 62.5 62. S 61.8 61.3 61.5 61.4 62.5 62.2 62.1 61.6 61.5 63.2 62.7 63.4 62.8 61.9 63.0 62.9 64.2 69.3 67.4 62.1 62.9 62.2 64.7 63.6 63.1 62.9 65.1 63.0 64.4 64.2 62.7 62.8 62.8 62.2 61.4 61.8 61.1 61.5 62.5 62.3 62.1 61.4 61.7 63.4 62.8 62.6 62.2 62.1 63.1 63.0 64.3 68.6 68.0 61.6 62.4 62.6 64.5 63.2 63.0 62.9 64.3 64.3 64.2 63.6 62.8 62.8 63.1 62.2 61.7 61.3 61.7 61.4 62.6 62.4 62.2 61.3 62.5 62.9 63.3 62.2 62.1 62.3 63.8 62.8 65.0 These series contain revisions beginning with 1980. 70.1 64.6 61.9 62.5 63.3 64.1 63.3 62.9 64.1 63.3 63.9 65.0 63.2 63.3 62.4 62.8 62.2 61.2 60.8 61. 5 62.1 62.8 62.6 62.2 60.6 62.0 62.7 63.6 62.9 61.9 63.0 63.7 62.8 65.8 Annual AVERAGE 178.1 192.0 207.1 217. l 229.7 235.8 253.7 266.0 280.4 269.5 310.8 324.9 335.0 355.2 374.6 400.5 430.4 465.1 490.3 536. 9 581.8 621.7 672. 2 737.1 812.0 888.1 976.4 1064.3 1204.4 1346.5 1507.2 1668.1 1857.2 1991.9 AVERAGE 25.0 30.8 29.8 29.1 32. 31. < 38. < 37. 39. 36.( 42.' 43. 41.6 46.7 51.4 56.4 63.0 68.0 70.1 80.5 85.7 85.2 97.2 111.1 123.3 121.5 132,2 156.8 178.2 200.2 213.4 214.7 236.1 244.5 AVERAGE 69.0 67. 62. i 62./ 62. ( 64,. 63.^ 63.] 63. 64./ 63.' 64. 63. < 62.« 62.( 62.8 62.3 61.5 61.3 61.4 61.6 62.6 62.4 62.2 61.2 61.9 63.0 63.1 62.8 62.2 62.3 63.4 62.9 64.8 Year IQ It Q IV Q III Q 231. PERSONAL CONSUMPTION EXPENDITURES, TOTAL, IN 1972 DOLLARS (ANNUAL RATE, BILLIONS OP DOLLARS ) 1949 1950.... 1951. .. . 1952.... 1953 1954.... 1955.... 1956 1957 1958 1959.... 1960 1961.... 1962 1963.... 1964.... 1965.... 1966 1967 1968.... 1969 1970.... 1971.... 1972.... 1973 1974.... 1975 1976.... 1977.... 1978.... 1979 1980.... 1981 1982 1983.... 315.8 327.7 345.7 342.7 362.8 363.5 385.2 403.2 411.7 411.0 434.1 448.1 454.0 474.5 493.1 516.6 546.0 581.2 594.8 620.7 6S1.9 667.4 687.0 718.6 768.8 761.2 763,3 809.9 BS1.7 883.8 921.2 938.3 953.6 961.4 319.8 333.6 337.8 348.6 364.6 366.2 392.2 403.9 412.4 414.7 439.7 454.1 459.9 479.8 497.4 525.6 550.7 582.3 602.4 629.9 656.2 670.5 693.3 731.1 766.3 764.1 775.6 817.1 858.0 901.1 919.5 919.6 954.7 968.8 319.3 348.0 340.7 350.2 363.6 371.8 396.4 405.1 415.2 420.9 443.3 452.7 461.4 483.7 503.9 534.3 559.2 588.6 605.2 642. 3 659.6 676.5 698. 2 741.3 769.7 769. 4 785.4 826.5 867.3 908.6 930.9 929.4 962.9 971.0 322.5 339.9 342.1 358.8 362.6 378.6 402.6 409.3 416.0 425.4 444.6 453.2 470.3 490.0 507.5 535.3 573.9 590.5 608.2 644. 7 663.9 673.9 708. 6 757.1 766.7 756.5 793.3 838.9 880.4 919.2 938.6 940.0 955.7 979.6 233. PERSONAL CONSUMPTION EXPENDITURES, DURABLE GOODS, IN 1972 DOLLARS (ANNUAL RATE, BILLIONS OP DOLLARS) 1949 1950 1951 1952 1953 1954 1955 1956 1957 1958 1959 1960 1961.... 1962 1963 1964 1965.... 1966 1967 1968.... 1969 1970 1971.... 1972.... 1973.... 1974 1975.... 1976.... 1977.... 1978 1979 1980 1981 1982..., 1983.... 32.2 38.9 44.3 37.S 42.3 40.9 48.1 49.4 49.9 45.1 49.5 51.0 47.7 52.9 58.2 63.2 70.5 79.7 77.2 85.2 92.3 89.7 94.0 106.2 124.8 114.4 106.5 125.1 133.9 139.4 148.6 145.2 145.4 138.5 35.4 39.2 38.1 38.3 41.9 41.4 51.3 48.9 48.8 44.5 51.3 52.3 48.4 54.2 59.4 64.8 70.6 76.3 80.7 86.9 92.1 90.7 96.3 108.9 122.5 114.7 109.0 125.6 136.9 149.8 144.9 130.0 140.5 139.5 36. R 49.0 37.1 35.9 41.8 42.4 52.7 48.1 48.0 45.1 52.1 51.8 49.4 54.7 60.1 66.8 73.1 78.8 79.9 90.9 91.7 91.1 99.0 111.7 120.8 115.8 115.9 126.9 139.2 147-9 149.1 135.6 143.9 138.2 37,7 43.2 36.9 40.5 42.5 45.1 52.2 48.8 47.9 46.6 49.7 50.5 51. S 57.0 61.0 64.6 76.1 78.7 80.1 90.4 91.3 84.8 103.5 117.6 117.2 104. 5 119.2 128.5 142.0 150.1 146.3 139.0 134.8 143.2 236. PERSONAL CONSUMPTION EXPENDITURES, NONDURABLE GOODS, IN CURRENT DOLLARS (ANNUAL RATE, BILLIONS OF DOLLARS) 1949.... 1950.... 1951.... 1952 1953 1954.... 1955 1956 1957 1958.... 1959 1960 1961.... 1962 1963 1964.... 1965 1966 1967 1968.... 1969 1970 1971 1972 1973 1974 1975.... 1976 1977 1978 1979 1980 1981 1982 1983 96.3 94.8 107.6 110.8 117.0 117.1 120.5 127.2 132.5 137.6 144.3 148.8 1S3.9 159.3 165.2 172.7 182.6 200.5 209.6 223.1 241.3 260.2 273.8 288.8 321.6 358.4 392-2 429.6 466.0 502.7 569.3 651.4 716.3 749.7 95.3 96.3 107.1 113.0 116.9 117,1 122.2 128.1 133.9 138.9 145.6 151.8 154.7 160.6 165.9 175.7 186.0 203.9 211.2 228.2 245.9 263.5 277.4 297.2 327.7 369.4 402.5 436.2 474.5 519,2 586.0 658.2 730.6 754.7 93.5 100.9 109.0 115.0 116.2 118.1 123.3 129.4 137.2 140.8 147.1 151.4 155.2 162.2 168.3 179.1 189,5 206.8 213.4 234.2 249.9 267.3 279.9 304.0 337.5 380.4 414.1 445.6 480.5 534.9 609.3 671.9 741.1 766.6 94.3 100.9 111.4 116.9 116.0 119.5 125.7 130.8 136.9 141.9 148.7 152.5 157.4 164.1 168.8 180.1 196.5 207.4 216.2 236.9 254.3 271.9 2R4.0 312.6 346.8 385.1 420.4 455.5 494.3 556.1 635.5 693.7 747.7 773.0 Annual AVERAGE 319.3 337.3 341.6 350.1 363.4 370.0 394.1 405.4 413.8 418.0 440.4 452.0 461.4 482.0 500.5 528.0 557.5 585.7 602.7 634.4 657.9 672.1 696. R 737.1 767.9 762. 8 779.4 823.1 664.3 903.2 927.6 931.8 956.8 970.2 AVERAGE 35.5 42.6 39.1 38.0 42.1 42.5 51.1 48.6 48.6 45.3 50.7 51.4 49.3 54.7 59.7 64. B 72.6 78.4 79.5 88.3 91.8 89.1 98.2 111.1 121.3 112.3 112.7 126.6 138.0 146.8 147.2 137.5 141.2 139.fi AVERAGE 94.9 98.2 108.fi 113.9 116.5 118,0 122.9 128.9 135.2 139.8 146.4 151.1 155.3 161.6 167.1 176.9 188.6 204.7 212.6 230.6 247.8 265.7 278.8 300.6 333.4 373.4 407.3 441,7 478.8 528.2 600.0 668.8 733.9 761.0 {OCTOBER 1983) C. Historical Data for Selected Series—Continued Year IQ IV Q II Q 237. PERSONAL CONSUMPTION EXPENDITURES, SERVICES, IN CURRENT DOLLARS (ANNUAL RATE, BILLIONS OF DOLLARS) 1949 1950 1951..,. 1952 1953 1954.... 1955..,. 1956.... 1957 19S8 1959..,. 1960 1961 1962 1963 1964 1965 1966 1967 1968 1969 1970 1971 1972 1973 1974 1975 1976 1977 1978 1979 19R0 1981 1982 1983 57.5 60.3 66.9 71.5 78.4 83.6 90.1 96.5 103.6 109.6 117.9 128.0 135.0 143.2 152.1 162.9 173.7 187.0 201.9 217.8 239.2 262.8 286. 0 315.2 343.0 376.1 420.6 466.2 525.5 588.8 666.0 748.3 B49.6 949.7 58.1 62.3 67.9 73.1 80.2 85.3 91.1 98.1 104.9 111.9 120.5 130.2 137.6 146.1 154.1 165.7 176.9 190.6 205.7 223.2 245.3 267.1 292.7 321.2 350.9 387.5 432.0 476.4 536.8 608.8 681.3 767.5 871.8 975.2 58.3 63.9 69.0 74.9 81.8 87.0 92.4 100.1 106.5 114.2 123.2 131.2 138.6 146.0 157.7 168.5 180.1 194.1 209.8 228.4 250.9 273.6 299.5 328.0 359.8 398.9 441.3 490.5 555.9 628.8 701.7 797.6 901.5 998.9 59.0 65.4 70.1 76.7 82.1 88.3 94.9 102.1 108.7 115.5 125.9 133.3 141.4 150.5 160.4 171.4 184.3 198.0 213.0 233.8 257.4 279.7 306.6 336.8 367.3 410.4 453.9 509.8 571.5 645.6 725.9 824.6 925.6 1021.8 239. PERSONAL CONSUMPTION EXPENDITURES, SERVICES, IN 1972 DOLLARS (ANNUAL RATE, BILLIONS OF DOLLARS) 1949.., 1950... 1951... 1952... 1953... 1954... 1955... 1956... 1957... 1958... 1959... 1960... 1961... 1962... 1963... 1964... 1965... 1966... 1967... 1968... 1969... 1970... 1971... 1972... 1973... 1974... 1975... 1976... 1977... 1978... 1979... 1980... 1981... 1982... 1983... 126.4 128.6 136.7 138.7 144.4 146.8 155.7 162.2 168.7 172.5 181-5 189.9 196.7 205.1 213.4 225.2 236.2 248.0 259.2 269.5 283.9 296.4 305.4 320.0 334.1 344.2 354.0 368.4 387.1 405.3 422.8 434.5 448.3 460.4 126.8 132.7 137.1 140.0 146.0 149.7 156.5 163.9 169.7 175.3 183.8 192.3 199.9 208.3 215.7 228.7 239.2 250.6 262.3 274.0 287.1 297.4 308.5 322.9 337.5 346.8 358.8 371.3 389.2 410.3 425.4 435.4 451.5 465.7 126.2 134.6 137.6 141.5 146.6 152.1 157.7 165.8 170.5 177.5 185.7 192.7 200.2 209.7 219.7 231.4 242.1 252.6 265.7 217.& 290.2 300.8 310.8 326.4 341.5 349.2 360.5 376.1 395.7 415.4 428.5 440.3 455.5 468.2 126.4 135.7 137.5 143.4 145.3 153.4 160.6 168.0 172.3 178.2 188.1 194.6 203.7 212.1 222.4 234.1 246.0 255.9 267,4 281.0 293.9 302.5 314,9 331.9 343.5 351.6 363.9 382.R 399.7 416.9 432.6 444.7 457.1 470.4 Annual AVERAGE 58.2 63.0 68.5 74.0 80.6 86.1 92.1 99.2 105.9 112.8 121.9 130.7 138.1 147.0 156.1 167.1 178.7 192.4 207.6 225.8 248.2 270.8 296.2 325.3 355.2 393.2 437.0 485.7 547.4 618.0 693.7 784.5 887.1 986.4 AVERAGE 126.5 132.9 137.2 140.9 145.6 150.5 157.6 165.0 170.3 175.9 184.8 192.4 200.2 208.8 217.8 229.8 240.9 251.8 263.7 275.6 288.8 299.3 309.9 325.3 339.2 348.0 359.3 374.7 393.0 412.0 427.3 438.8 453.1 466.2 241. GROSS PRIVATE DOMESTIC INVESTMENT, TOTAL, IN 1972 DOLLARS (ANNUAL RATE, BILLIONS OF DOLLARS) 1949 1950 1951 1952 1953 1954 1955.... 1956 1957 1958 1959 1960 1961 1962 1963 1964 1965,... 1966 1967 1968 1969 1970 1971 1972 1973 1974 1975 1976.... 1977 1978 1979 1980 1981 1982 1963.... 71.3 79.6 96.6 66.4 87.6 79.1 97.7 103.9 98.4 82.9 103.7 117.4 94.0 116.8 118.7 131.8 149.4 164.8 152.6 157.2 172.5 158. 1 169.8 186.0 215.7 206.3 145.8 lfll.4 201.7 226.7 241.5 224. 3 222.7 199.7 61.6 89.8 100. 77. 89. 79. 103. 102. 98.0 80.8 114.1 105.1 101.1 118.3 124.6 132.4 150.5 165.0 148.9 162.7 173.1 158.3 175.1 194.5 217.2 200.9 146.8 185.7 213.7 239.9 241.3 202.4 229.5 201.4 65.8 96.0 93.8 80.5 86.0 84.0 105.8 102.2 99.8 68.1 104.0 102.5 107.9 119.1 127.3 131.5 152.4 160.3 155.1 161.6 175.4 161.6 175.3 196.8 215.4 190.3 163.3 184.6 222.R 236.0 237.2 197.4 236.3 198.4 NOTE: These series contain revisions beginning with 1980. IV Q PERSONAL CONSUMPTION EXPENDITURES, NONDURABLE GOODS, IN 1972 DOLLARS (ANNUAL RATE, BILLIONS OF DOLLARS) 1949 1950..... 1951 1952 1953 1954 1955 1956 1957 1958 1959 1960 1961 1962 1963 1964 1965 1966 1967 1968 1969 1970 1971 1972 1973 1974 1975..... 1976 1977 1978 1979 1980 1981 1982 1983 157.2 160.1 164.7 166.5 176.1 175.8 181.4 191.6 193.1 193.4 203.2 207.2 209.6 216.5 221.5 228.2 239.2 253.5 258.3 266.1 275.7 281.3 287.6 292.4 309.9 302.6 302.8 316.3 330.6 339.1 349.9 358.5 359.8 362.6 157.5 161.7 162.7 170.3 176.6 175,0 184.4 191.1 193.9 194.9 204.6 209.5 211.6 217.4 222.4 232.2 240.9 255.4 259.4 269.0 277.0 232.4 288.5 299.3 306.3 3.02.6 307.8 320.2 331.9 341.0 349.2 354.2 362.7 363. S 156.3 164.4 166.0 172.8 175.2 177.2 185.9 191.2 196.7 198.3 205.5 208.1 211.7 219.3 224.1 236.1 244.1 257.2 259.5 273.6 277.7 284.5 288.4 303.3 307.4 304.4 309.0 323.5 332.4 345.3 353.4 353.5 363.6 364.7 158.4 161.0 167.7 174.9 174.9 180.0 189.8 192.5 195.7 200.6 206.8 208.1 214.8 220.8 224.2 236.7 251.8 255.9 260.8 273.3 278.7 266.7 290.2 307.6 306.0 300.4 310,2 327.5 338.7 352,2 359.8 356.2 363.8 366.0 240. GROSS PRIVATE DOMESTIC INVESTMENT, TOTAL, IN CURRENT DOLLARS (ANNUAL RATE, BILLIONS OP DOLLARS) 1949 1950 1951 1952 1953 1954 1955 1956 1957 1958 1959 1960 1961 1962 1963 1964 1965 1966 1967 1968 1969 1970 1971 1972 1973 1974 1975 1976 1977 1978 1979 1980 1981 1982 1983 35.7 55.4 58.7 51.1 54.2 53.1 70.1 71.3 71.8 62.5 75.2 74.2 78.0 86.4 92.3 96.8 114.2 123.5 123.5 133.8 154.1 147.8 168.7 197.5 229.6 227.9 217.5 259.6 339.6 394.6 431.9 379.5 495.8 425.3 39.3 43.6 60.7 54.1 54.fl 49.5 63.5 70.8 69.8 57.8 74.5 86.0 66.9 84.9 86.4 95.6 111.5 124.8 120.2 127.1 147.1 141.3 159.4 183.3 221.6 225.8 191.4 248.6 296.4 354.2 415.1 422.0 455.5 422.9 33.4 65.6 53.4 55,7 48,2 57.8 72.0 71.6 65.4 70.4 79,7 66.9 81.3 84.5 94.5 100.2 116.7 127.1 130.6 136.6 146.5 144.1 170.6 206.1 240.9 228.0 222.4 264.7 340.7 409.1 416.8 411.7 476.2 377.4 242. GROSS PRIVATE DOMESTIC FIXED INVESTMENT, TOTAL, IN CURRENT DOLLARS (ANNUAL RATE, BILLIONS OF DOLLARS) 62.8 108.7 85.3 87.6 78.6 65.4 93.5 93.9 89.7 83.1 103.8 102.6 97.0 87.5 108.0 104.7 103.9 117.6 125.1 133.0 151.9 163.0 154.9 161.6 171.4 158.5 173.9 195.0 217.5 195,5 154.8 184.5 214.2 236.7 236.3 208.5 227.6 194.5 107.8 101.7 91.7 98.0 110.2 93.8 112.6 116.0 129.6 136.1 155.4 162.0 163.0 164.9 164.8 156.2 175.4 202.7 221.8 184.3 163.3 186.3 218.5 242.2 225.3 210.0 221.7 178.4 II Q Year 238. 83.0 85.3 1949 1950 1951 1952 1953 1954 1955 1956 1957 1958 1959 1960 1961 1962 1963 1964 1965 1966 1967 1966 1969 1970 1971 1972 1973 1974 1975 1976 1977 1978 1979 1980 1981 1982 1983 39.3 41.2 50.2 48.9 52.4 52.1 58.9 64.8 67.8 63.2 70.3 75.S 70.2 76.7 80.7 90.2 99.2 111.7 107.8 122.5 136.7 139.6 148.8 177.1 205,3 213.1 205.7 233,5 276.8 328.9 393.5 423,6 444.7 448.6 38. 45. 48. 49. 53 53 61 66 67 61. 72. 73. 71 79 84 90 102 112 111 123 139 139 157 161 211 215 207 241 296 3S7 401 391 457 443 0 8 7 9 0 1 9 1 5 6 9 6 4 5 3 9 3 9 1 0 0 2 0 1 6 2 6 0 2 7 9 3 1 7 37.4 50.6 48.3 46.8 53.5 55.3 64.0 67.2 68.6 62.4 73.8 71.6 72.8 80.5 85.9 92.3 105.0 112.2 113.3 125.3 141.8 141.8 161.9 184.7 214.5 217.1 215.5 248.2 307.5 371.1 420.2 404.9 462.2 430.2 38.6 50.6 48.3 50.3 52.8 56.6 64.9 67.3 67.6 66-3 72.9 71.1 75.5 80.0 86.9 93.5 108.2 109.5 117.8 130.9 140.2 143.2 167.3 196.3 213.8 212.6 223.2 261.5 323.7 382.8 419.4 426.8 461.8 433.8 Annual AVERAGE 157.4 161.8 165.3 171.2 175.7 177.0 185.4 191.6 194.9 196.8 205.0 208.2 211.9 218.5 223.0 233.3 244.0 255.5 259.5 270.5 277.3 283.7 288.7 300.6 307.4 302.5 307.5 321.9 333.4 344.4 353.1 355.6 362.5 364.2 AVERAGE 35.3 53.8 59.2 52.1 53.3 52.7 68.4 71.0 69.2 61.9 78.1 75.9 74.8 85.4 90,9 97.4 113.5 125.7 122.8 133.3 149.3 144.2 166.4 195.0 229.8 228.7 206.1 257.9 324.1 386.6 423.0 401.9 474.9 414.5 AVERAGE 38.4 47.0 48.9 49.0 52.9 54.3 62.4 66.3 67.9 63.4 72.5 72.9 72.5 79.2 84.9 91.7 103.7 111.6 112.5 125.4 139.5 141.0 158.8 184.8 211.3 214.5 213.0 246.0 301.0 360.1 408.8 411.7 456.5 439.1 (OCTOBER 1 9 8 3 ) 103 C. Historical Data for Selected Series—Continued Year IV Q IQ 500. FEDERAL GOVERNMENT SURPLUS OR DEFICIT, NIPA (ANNUAL RATE, BILLIONS OF DOLLARS) 0.6 -4.7 18.3 0.2 -4.5 -10.6 1.8 6.6 4.6 -7.5 -2.9 7.6 -4.3 -5.6 -1.9 -3.0 4.6 0.6 -12.9 -9.8 11.4 -1.3 -18.5 -12.fi -8.6 -4.7 -45.5 -56.3 -37.6 -48.4 -10.1 -38,5 -43.4 -108.5 1949 1950 1951 1952 1953 1954 1955 195S 1960. 196',.. 196;t. 196*1 196JI 196«i 196V 196GI 196? 197C 1971 1972 1973 197-3 1975 1976 197? 1970 1979 1980 1901. 1982 1963 502. 1949 1950 1951 1952,.... 1953 1954, . 1955, 1956..... 1957 1958 1959 1960 1961 1962 1963 1964 1965 1966 1967 1968 1970 1971...,. 1972 1973 1974 1975 1976 1977 1978 1979 1980 1981 1982 1983 -3.1 7.8 8.4 -3.7 -6.2 -6.7 4.9 5.8 2.B -11.9 1.6 4.2 -5.1 -4.1 1.9 -6.7 3.9 1.3 -13.2 -12.2 11.5 -13.1 -23.7 -19.8 -7.1 -10.6 -99.0 -48.2 -41.9 -26.6 -6.7 -64.3 -47.3 -113.2 -4.1 16, e> l.r -7.! -5.( ) -5.] 4.JI 5.; 2.a -12.] -1.' l.< -3.9 -3.; I 1.3 -2.4 -3.0 -3.2 -13. i -2.(» 6.!> -14.<i -23.' -10.! > -2.(> -8./ \ -66. i -51.6 -52.] -23.: -lfi.O -73.: 1 -62.4 158,: > -4.1 17.3 -1.7 -3.7 -11.8 -1.9 6.5 6.3 -i.3 -10.0 -1.5 -1.1 -2.2 -4.0 -0.2 -1.0 -3.4 -5.9 -13.0 0.3 4.3 -20.4 -22.2 -24.1 -4.0 -22.4 -66.1 -56.3 -51.8 -19.6 -29.6 -69.0 -95.8 -208.2 40.0 47.2 47.6 66.1 76.3 73.5 67.9 69.4 78.1 83.5 90.5 90,2 98.9 109.0 113.5 118.3 118.2 135.8 159.9 173.4 184.0 193.9 213.4 235.8 260.7 279.6 333.6 376.3 401.7 445.1 487.9 564.5 660.8 728.0 41.7 39.0 54.5 70.1 78.2 69.6 66.7 71.8 79.8 87.8 89.9 92.3 101.7 109.2 112.2 118.8 120.4 140.0 160.9 180.9 1B7.1 207.4 220.8 244.0 262.R 295.2 353.6 375.7 412,4 451.1 493.4 587.7 669.9 735.4 42.4 36.5 61.2 74.4 76.6 68.7 6S. 9 72,4 79.8 91.6 91.5 94.2 102.8 110.7 114.1 117.6 126.1 146.9 165.1 182.6 189.8 205.7 222.3 238.1 262.3 305.0 365.3 387,4 429.6 465.6 518.0 616.5 701.2 773.5 NOTE: 104 18.8 20.5 23.1 24.5 26.3 28.4 30. 5 33.7 37.7 40.1 45.0 48.3 52,5 57.1 61.0 67.2 72,6 81.0 90.1 102.3 114,5 130.1 145.4 166.3 191.9 203.1 224.0 258.0 284.7 316.7 341.0 375.3 411.3 42S.9 19.0 21.0 23.1 25.0 27.8 28.7 31.2 34.6 38.1 41.3 45.3 49.6 53.3 58.0 62.3 68.8 74.2 83.8 91-0 106.0 118.0 133.7 151.6 178.6 193.6 209.6 233.7 263.7 293.9 329.1 344.3 377.2 415.9 436.8 19.9 21.8 23.4 25.8 27.7 29. 3 32. 35.5 38.8 42.0 47.7 50.5 54.5 58.9 64.1 70.5 75.9 86.3 94.7 108.9 122. 2 137.5 155.2 175.8 194.8 214.2 243.7 269.5 304.0 327.8 356.3 389.4 421.6 442.8 Tiose series contain revisions beginning with 1980. Year -2.6 9.2 6.5 -3.7 -7.1 -6.0 4.4 6.1 2.3 -10.3 -1.1 3.0 -3.9 -4.2 0.3 -3.3 0.5 -1.8 -13.2 -6.0 8.4 -12.4 -22.0 -16.8 -5.6 -11.5 -69.3 -53.1 -45.9 -29.5 -16.1 -61.2 -62.2 -147.1 1949 1950 1951 1952 1953 1954 1955 1956 1957 1958 1959.... 1960 1961.... 1962 1963.... 1964 1965 1966.... 1967 1968 1969 1970 1971 1972 1973 1974.... 1975 1976 1977 1978 1979 1980 1981 1982 1983 510. 41.4 40.4 67,9 73,6 77.4 67,6 69.0 74.2 81.0 93.0 91.9 95.7 104.4 112.8 116.8 118.0 130.5 151.8 168.9 185.1 192.9 210.3 225.9 259.4 271.2 317.6 374.0 399.9 440.6 482.4 539.6 639.8 725.0 820.9 41.3 40,8 57.8 71.1 77.1 69,8 68.1 71.9 79.6 88.9 91.0 93.1 101.9 110.4 114.2 118.2 123.8 143.6 163.7 180.5 188.4 204.3 220.6 244. 3 264.2 299.3 356,6 384.8 421,1 461.0 509.7 602.1 689.2 764.4 19.S 21.3 23.4 25.4 27.4 29.0 31.7 35.0 38.5 42.0 46.4 49.9 54.0 58.5 63.2 69.5 75.1 84.fl 93.6 107.3 120. 135. 153. 178. 195. 211. 237. 267.8 297.7 327.6 352.0 386.1 418.1 439.1 Annual 40.6 42.6 65.9 66.3 71.8 62.9 69.7 76.0 82.7 76.0 87.6 97.9 94.5 103.3 111.6 115.4 122.7 136.5 147.0 163.6 195.4 192.7 194.9 223.0 252.1 274.8 288.2 320.0 364.1 396.7 477.8 526.1 617.4 619.5 38.6 46.8 62. 66. 71. 62. 71. 77. 82.5 75.9 91.6 96.4 96.6 105.1 114.1 112.1 124.4 141.3 147.6 168.8 198.5 194.3 197.1 224.2 255.6 284.6 254.5 327.5 370.5 424.4 486,7 523.4 622.6 622.2 38.3 53.1 62.2 66.9 70.8 63.5 73.6 77.6 82.6 79.5 89.8 95.7 90.9 107.5 115.3 US.2 123.1 143.7 151.5 180.0 196.3 190.7 198.6 227.6 259.7 296.6 298.7 335.9 377.5 442,3 500.0 543.2 638.8 615.2 37.4 57.7 66.2 69.9 65.6 65.7 75.5 80.5 79.6 83.0 90.4 94.6 102.2 108.8 116,6 117.0 127.1 145.9 155.9 185.4 197.2 189.8 203.7 235.3 267.2 295.3 307.9 343.6 388.7 462.8 510.1 570.8 629.2 612.6 38.7 50.0 64.3 67.3 70.0 63.7 72.6 78.0 81.9 78,7 89.8 96.1 98.1 106.2 114.4 114.9 124.3 141.8 150.5 174,4 196.9 191.9 198.6 227.5 258.6 287.8 287.3 331.8 375.2 431.6 493.6 540.9 627.0 617.4 STATE AND LOCAL GOVERNMENT SURPLUS OR DEFICIT, NIPA (ANNUAL RATE, BILLIONS OF DOLLARS) 1949 1950 1951 1952 1953 1954 1955 1956 1957 1958 1959 1960 1961 1962..... 1963 1964 1965 1966 1967 1968 1969 1970 1971 1972 1973 1974 1975 1976 1977 1978 1979 1980 1981 1982 1983 -0.1 -1.4 0.0 -0.3 -0.4 -0.6 -1.6 -1.0 -0.7 -2.5 -1.7 0.2 -0.8 0.1 0.1 0.9 1.0 0.4 -1.2 0.2 0.0 3.5 0.4 5.7 16.7 9.5 1.7 10.1 23.7 31.6 32.3 30.9 35.3 28.8 -0.8 -1.7 -0.6 -0.6 1.0 -1.0 -1.6 -0.9 -1.3 -2.4 -1.6 0.2 -0.1 0.5 0.5 0.6 0.4 0.9 -2.3 0.2 0.4 3.1 2.4 16.6 14.5 7.8 5.7 13.8 26,1 34.0 26.8 26.2 36.7 32.0 -0.8 -0.8 -0.8 0.4 0.2 -1.4 -0.9 -0.7 -1.4 -2.9 0.7 0.0 0.1 0.6 0.6 1.3 -0.8 1.1 -0.7 0.0 2.0 1.0 3.3 9.9 11.5 5.7 7.7 17.4 32.0 25.7 30.9 30.0 37.3 31.3 -1.1 -0.9 -0.3 0.4 -0.1 -1.3 -0.9 -0.9 -2.0 -1.7 0.9 -0.1 -0.7 0.7 0.6 1.2 -0.7 -0.4 0.0 -0.1 3.6 -0.2 4. 2 21.8 11.0 4.2 6.8 25.0 30.4 29.8 31.6 35.1 32.0 32.9 -0.7 -1.2 -0.4 0.0 0.1 -1.1 -1.3 -0.9 -1.4 -2.4 -0.4 0.1 -0.4 Q.5 0.5 1.0 0.0 0.5 -1.1 0.1 1.5 1.9 2.6 13.5 13.4 6.8 5.5 16.6 26,0 30.3 30.4 30.6 35,3 31.3 21.1 22.9 24,4 26.0 2fl.O 31.1 33.6 37.0 41.3 46.0 46.9 51.2 56.4 59.3 65.0 70.3 78.4 88.6 98.7 112.0 122.4 140.5 155.7 170.8 188.fl 214.3 242. $ 255.0 278.1 307.1 334.7 367.3 391.4 417.8 20.2 22.5 23.9 25.5 27.3 30.2 33.0 35.9 39. 8 44.3 46.9 49.8 54.4 58.0 62.8 68.5 75.1 84.3 94.7 107.2 118.7 133.5 150.4 164.8 181.6 204.6 232.2 251.2 269.7 297.3 321.5 355.5 382.7 407.8 STATE AND LOCAL GOVERNMENT EXPENDITURES, (ANNUAL RATE, BILLIONS OF DOLLARS) AVERAGE 20,0 22.0 24,1 26.4 27.9 29.8 32.8 36.2 39.3 44.4 47.8 51.1 55.7 60.0 65.6 71.6 77.7 88.2 98.6 111.9 126.1 140.4 159.9 192.6 199.8 218.5 249.4 280.0 308.4 336.9 366.3 402.5 423.4 450.7 IV Q 501. FEDERAL GOVERNMENT RECEIPTS, NIPA (ANNUAL RATE, BILLIONS OF DOLLARS) AVERAGE FEDERAL GOVERNMENT EXPENDITURES, NIPA (ANNUAL RATE, BILLIONS OF DOLLARS) STATE AND LOCAL GOVERNMENT RECEIPTS, (ANNUAL RATE, BILLIONS OF DOLLARS) 1949.,. 1950.,, 1951.,. 1952... 1953.,. 1954.., 1955... 1956... 1957... 1958... 1959... I960.,, 1961... 1962... 1963... 1964... 1965,.. 1966... 1967... 1968... 1969... 1970.., 1971... 1972... 1973... 1974.., 1975.. , 1976.. , 1977..„ 1978.., 1979.., 1980.., 1981... 1982.., 1983... Annual 1949 1950 1951 1952 1953 1954 1955 1956 1957. 1958 1959 1960 1961 1962 1963 1964 1965 1966 1967 1968 1969 1970..... 1971 1972..... 1973 1974 1975 1976 1977 1978 1979 1980 1981 1982 1983 18.9 21.8 23.2 24.8 26.8 29.0 32.2 34.7 38.5 42.6 46.7 48.1 53.2 57.0 60.9 66.4 71.6 80.6 91.3 102.1 114.5 126.6 145.0 160.6 175.2 193.6 222.3 247.8 261.0 285.1 308.7 344.4 376.0 397.2 19.8 22.7 23.7 25.7 26.8 29.7 32.8 35.5 39,4 43.7 47.0 49.5 53.4 57.5 61.7 68.2 73.8 82.9 93.3 105.8 117.6 130.6 149.2 162,0 179.1 201.8 228.0 249.9 267.8 295.1 317.5 351.0 379,2 404.8 20.7 22.6 24.2 25.4 27.5 30.7 33,1 36.2 40.2 44.9 47.0 50.5 54.4 58.3 63.5 69.2 76.7 85.2 95.4 108.9 120.2 136.4 151.9 166,0 183,3 208.5 235.9 252.1 272.0 302.1 325.4 359.4 384.3 411.4 (OCTOBER 1983) G. Experimental Data and Analyses (Nov.) T Year and quarter I m p l i c i t price d e f l a t o r , gross nonfarm business product 1 (Index: 1977=100) Unit labor cost, a l l persons, nonfarm business sector 1 (Index: 1977=100) 1981 I Q.... I I Q... I l l Q.. IV Q... 136.2 138.4 141.8 145.0 139.2 141.6 143.5 147,8 146.4 148.3 149.1 150.5 151.3 153.6 155.4 157.1 (Nov.) P (Hat.) T HI 111 111 iiifiiiini in in {Nov.) T in III If! III Components of BCD series 2 6 - i in i i Implicit price deflator, gross nonfi rm business product Q (index: 1977 = 100) 1983 152.4 rl53.6 pl54.6 I Q.... I I Q... I l l Q.. IV Q... — no - 1 170 160 150 — 140 130 — 120 — 1982 I Q.... I I Q... I l l Q.. IV Q... Ratio scale 160 150 140 130 120 Unit labor cost, alt persons, nonfa business sector, Q (index: 1977 = 100) 158.3 rl57.4 P157.3 — 110 100 — 90 — 80 - 70 ratios in 1972 dollars (ratio)— Arithmetic scale Inventory-sales ratios in 1972 dollars 2 Year and month Manufacturing fMerchant Retail - trade 2.2 wholesalers (Ratio) (Ratio) (Ratio) 2.1 1982 Jan Feb..., Mar.... Apr.... May.... June... 2.11 2.06 2.05 2.07 2,03 2.02 1.49 1.45 1.43 1.50 1.45 1.50 1.45 1.40 1.42 1.42 1.38 1.43 July... Aug Sept... Oct.... Nov Dec... 2.03 2.05 1.52 1.51 1.55 1.56 1.54 1.55 1.42 1.43 1.43 1.43 1.38 1.39 2.05 2.12 2.09 2.06 mm 2.0 - 1.9 — 1.8 1.6 - 1.5 1.4 1983 Jan.... Feb.... Mar Apr.... May June... 1.97 1.97 1.91 1.89 1.85 1.79 1.47 1.51 1.50 1.52 1.41 1.37 1.38 1.41 1.38 1.38 1.35 1.33 July... Aug Sept... Oct.... Nov Dec rl.82 pi. 80 (NA) 1.39 pi.41 (NA) rl.33 pi. 37 - 1.3 - 1.6 - 1.5 1.4 (NA) 1.3 1970 1971 1972 1973 1974 1975 1976 1 9 7 1978 1979 1980 1981 1982 1983 NOTE: The V indicates revised; °p", preliminary; and "NA", not available. 'Source: U.S. Department of Labor, Bureau of Labor S t a t i s t i c s . 2 Source: U.S. Department of Commerce, Bureau of Economic Analysis. 105 G. Experimental Data and Analyses—Continued Net Contributions of Individual Components to the Leading, Roughly Coincident, and Lagging Composite Indexes Net contribution to index Basic data Series title (and unit of measure) LEADING INDICATORS 1,. Average workweek, production workers, manufacturing (hours) 5, Average weekly initial claims, State unemployment insurance1 (thousands) 8, New orders for consumer goods and materials in 1972 dollars (billion dollars) 32. Vendor performance, companies receiving slower deliveries (percent) 12. Net business formation (index: 1967=100) 20. Contracts and orders for plant and equipment in 1972 dollars (billion dollars) 29. New building permits, private housing units (index: 1967=100) 36. Change in inventories3 on hand and on order in 1972 d o K , smoothed (ann. rate, bil. dol.) . 99. Change in 3 sensitive materials prices, smoothed (percent) 19. Stock prices, 500 common stocks (index: 1941-43=10) . . 106. Honey supply (M2) in 1972 dollars (billion dollars) 111. Change in credit—business and consumer borrowing (annual rate, percent). . . . . . . 910. Composite index of 12 leading indicators3 (index: 1967=100) ROUGHLY COINCIDENT INDICATORS 41. Employees on nonagricultural payrolls (thousands) 51. Personal income less transfers in 1972 dollars (annual rate, billion dollars). 47. Industrial production, total (index: 1967=100) 57. Manufacturing and trade sales in 1972 dollars (million dollars) , 920. Composite index of 4 roughly coincident indicators3 (index: 1967=100) LAGGING INDICATORS 91. Average duration of unemployment1 (weeks) 77. Ratio, constant-dollar inventories to sales, manufacturing and trade (ratio) 62. Labor cost per unit of output, manufacturingactual data as a percent of trend (percent) 109. Average prime rate charged by banks (percent) 101. 95. 930. Commercial and i n d u s t r i a l loans outstanding in 1972 d o l l a r s ( m i l l i o n d o l l a r s ) . . . . . Ratio, consumer installment c r e d i t t o personal income (percent) Composite index o f 6 lagging i n d i c a t o r s 3 (index: 1967=100) June 1983 July 1983 Aug. 1983 Sept. 1983 June to July 1983 July to Aug. 1983 40.1 40.2 40.3 p40.7 0.08 0.08 406 380 408 387 0.18 -0.20 0.09 0.15 0. 0.36 34.20 34.86 r35,96 p35.06 52 52 61 60 116.4 rll5.5 rll2.4 pll5.3 -0,11 -0,38 rl4.48 rl2.53 13.43 pl4.81 -0,32 0.15 142.2 143.9 133.4 121.6 0.04 -0.23 r0.99 r5.79 pl2.63 NA 0.27 0.38 r0.98 0.90 1.07 0.93 -0.03 0.07 166.39 166.96 162.42 167.16 0.02 -0.17 890.5 r891.9 892.5 p891.9 0.05 0,02 r5.7 9.7 p8.5 0.21 -0.06 rl57.2 rl58.2 rl58.7 pl60.2 0,64 0.32 89,844 r90,152 r89,735 p90,468 0.28 -0.38 1,094.0 rl,096.8 rl,096.2 pi,102.9 0.13 -0.03 rl46.4 rl49.6 rl51.4 pl53.7 0.60 0,33 164,405 rl62,776 pl62,866 -0.22 0.01 139.8 rl40.7 rl40.4 22.0 21.7 19.9 1.56 rl.58 pi.59 r93.1 91.7 10.50 NA NA pl42.7 20.2 0.64 -0.21 0.10 0.63 NA 0.26 0.13 r90.7 p89.5 -0.51 10.50 10.89 11.00 102,468 rlO2,377 rl02,108 pl01,817 -0.02 12.98 rl3.09 pl3.17 NA 0.42 0.31 109.5 rlO9.8 rll0.8 pllO.O 0.27 0.91 0. -0.37 0.27 -0.07 NOTE: The net contribution of an individual component is that component's share in the composite movement of the group. I t is computed by dividing the standardized and weighted change for the component by the sum of the weights for the available components and dividing that result by the index standardization factor. See the February 1983 issue of BUSINESS CONDITIONS DIGE (pp, 108-109) for th$ 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. 9 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. 106 G. Experimental Data and Analyses—Continued Cyclical Comparisons: Current and Selected Historical Patterns .|M.M|..,.F|FFTTTTTTFFI|F!F 1. Average workweek, production workers, manufacturing Deviations from reference peaks Actual data for current cycle Percent +2 • 40.5 +1 • 40.0 MONTHS DEVIFROM ATIONS CURRENT MONTH REF. FROM ACTUAL AND 7/81 TROUGH DATA YEAR SERIES 1 HOURS 0 -2.3 39.0 11/82 1 2 3 4 -2.3 -0.5 -1.8 -1.0 39.0 39.7 39.2 39.5 12/82 1/83 2/83 3/8 3 5 6 7 8 0.5 0.3 0.5 0.8 40.1 40.0 40.1 40.2 4/83 5/83 6/8 3 7/83 9 10 1.0 2.0 40.3 40.7 8/83 9/83 T l F 11 I I I I I I I 1 I F F F F F 1 F T T T J T F F F F F F 1. Average workwi ;ek, production workers, manu acturing Rtrc«nt +5 ^39.5 -2 • 39.0 • 38.5 -4 • - 6 8. New orders for consumer goods and materials, 1972 dollars, smoothed1 38.0 *37.5 38.8 9/82 38.9 39.0 10/82 11/82 12/82 1/83 0 0. 1 2 3 4 0.3 0.5 0.5 2.3 5 6 7 8 1.0 1.8 3.4 3.1 39.5 40.1 40.0 2/83 3/83 4/8 3 5/8 3 9 10 11 12 3.4 3.6 3.9 4.9 40.1 40.2 40.3 40.7 6/8 3 7/8 3 8/83 9/8 3 +3 T 39.0 39.7 39.2 +2 29.04 28.58 9/82 10/82 -18.1 28.13 11/8 2 1 2 3 4 -14.6 29.34 30.44 31.65 31.82 12/82 1/83 2/83 3/8 3 5 6 7 a -5.1 -2.8 -0.1 1.9 32.61 33.38 34.32 35.01 4/8 3 5/83 6/83 7/8 3 9 2.7 35.29 8/8 3 -2 -1 + 20 0 + 15 + 10 + 5 • 35 -15.4 -16.8 -11.4 -7.9 -7.4 • 38.5 "2 30 • 37.5 -4 New orders fo|r consumer goods and materials, 1972 dollars, smoothed * 0. T Percent + 40 #40 • 38 +30 • 36 + 20 28.58 10/82 -1.6 2.6 6.5 10.7 28.13 29.34 30.44 31.65 11/82 12/8 2 1/83 2/83 5 6 7 8 11.3 14.1 16.8 20.1 31.82 32.61 33.38 34.32 3/83 4/83 5/83 6/83 9 10 22.5 23.5 35.01 35.29 7/83 8/83 •38.0 -3 SERIES 8 B I L . DOL. -10 • 39.5 -1 DEVIMONTHS FROM ATIONS CURRENT MONTH SPEC. FROM ACTUAL AND TROUGH 10/82 DATA YEAR • 40.0 • 39.0 0 -5 • +1 DEVIMONTHS FROM ATIONS CURRENT MONTH REF. FROM ACTUAL AND TROUGH DATA YEAR 7/81 Percent 40 40.5 SERIES 1 HOURS SERIES 8 B I L . DOL • • +4 DEVIMONTHS FROM ATIONS CURRENT MONTH FROM SPEC. ACTUAL AND 9/82 TROUGH DATA YEAR -1 DeviActual ations data from for specific current troughs cycle • 34 -15 1982 1975 -20 -25 -12 -6 0 +6 • 32 + 10 • 30 +12 +18 Months from reference troughs 1...I..,,,1M,,LI -12 -6 |0 1..i.. 1 , . , . , I M +6 +12 +18 Months from specific troughs NOTE: For an explanation of these charts, see "How to Read Charts" on p. 106 of the July 1983 issue. *Trns series is an MCD moving average placed on the center month of the span. "Numeral indicates latest month used in computing the series. 107 G. Experimental Data and Analyses—Continued Cyclical Comparisons: Current and Selected Historical Patterns-Continued , V T I M | . . M . | , , M IJfTTTI JFT1TTJ1 QRTRS. FROM REF. TROUGH 30. Change in business inventories, 19/2 dollars CURRENT QRTR. ACTUAL AND DATA YEAR -1 SERIES 30 ANN. RATE BIL. DOL -10.2 1/82 -3.4 11/82 -1.3 111/82 0 -22.7 1 -15.4 1/83 -5.4 11/83 4.8 111/83 -3 -2 2 3 p 30. Change in business inventories, 1972 dollars IV/82 ORTRS. DEVIFROM ATIONS CURRENT ORTR. SPEC. AND FROM ACTUAL DATA YEAR TROUGH IV/82 -3 -2 -1 0 1 2 3 SERIES 30 ANN. RATE BIL. DOL 1/82 12.5 -10.2 -3.4 11/82 19.3 21.4 -1.3 CII/82 0. T 7.3 17.3 27.5 -22.7 IV/82 -15.4 1/83 -5.4 11/83 4.8 [11/83 ORTRS. DEVIFROM ATIONS CURRENT QRTR. FROM ACTUAL AND REF. DATA YEAR TROUGH 111/81 -3 -2 -1 SERIES 50 ANN. RATE B I L . DOL. 1/82 -2.6 1485.8 -2.4 1489.3 11/82 -2.6 1485.7 [11/82 0 -3.0 1480.7 1 2 3 -2.3 -0.0 1.9 1490.1 1/8 3 1525.1 11/83 1554.4 EII/83 IV/82 ORTRS. DEVIFROM ATIONS CURRENT ORTR. AND SPEC. FROM ACTUAL DATA YEAR TROUGH IV/8 2 •1575 SERIES 50 ANN. RATE B I L . DOL. 1485.8 0.6 0.3 -J -12 -6 0 +6 #1475 0. T 1480.7 • 1425 0.6 3.0 5.0 -5 1/82 IV/82 1554.4 111/83 +12 -1-18 NOTE: For em explanation of these charts, see "How to Read Charts" on p. 106 of the July 1983 Issue. 108 -J 1490.1 1/83 1525.1 11/83 Months from reference troughs • 1525 1489.3 11/82 1485.7 111/82 -12 Months from specific troughs 0 • 1475 G. Experimental Data and Analyses—Continued Cyclical Comparisons: Current and Selected Historical Patterns-Continued Deviations from reference peaks 910. Composite index of 12 leading indicators Actual data for current cycle m FWcent - . +20 •170 - +15 • 160 - +10 - +5 A -5 •130 - V1 -10 15 •120 J -20 -2.4 139.4 11/82 1 2 3 4 -1.4 140.9 145.2 147.7 150.6 12/82 1/83 2/83 3/8 3 5 6 7 8 6.8 8.0 10.0 10.7 152.6 154.4 157.2 158.2 4/8 3 5/83 6/83 7/83 9 10 11.1 12.1 158.7 160.2 8/8 3 9/83 a fVrcant DEVIMONTHS FROM A T I O N S CURRENT MONTH FROM ACTUAL AND SPEC. TROUGH 3/82 DATA YEAR Median X f - +5 • 155 J f 8 3.5 139.4 11/82 9 10 11 12 4.6 7.8 9.7 11.8 140.9 145.2 147.7 150.6 12/8 2 1/83 2/83 3/8 3 13 14 15 16 13.3 14.6 16.7 17,4 152.6 154.4 157.2 158.2 4/83 5/83 6/83 I 7/83 17 18 17.8 18.9 158.7 160.2 8/83 9/83 O -10.1 132.7 11/82 1 2 3 4 -10.2 -9.0 -9,6 -8.8 132.6 134.3 133.5 134.6 12/82 1/83 2/83 3/8 3 5 6 7 8 -8.1 -6.6 -5.3 -4.7 135.6 137.9 139.8 140.7 4/8 3 5/83 6/83 7/8 3 9 10 -4.9 -3.3 140.4 142.7 8/83 9/83 £y -5 • 135 10 -1-15 -12 -8 0 +6 • 125 cycle PWcont 1 n Jl •170 - +25 \ v\ \s Median • 165 - +20 LX. • 160 iff / it IJ Sf Sr /w 1MI\ Si S I a? 10/70 \ \ \ I \ - +15 •155 •150 - +10 •145 Is JI - U +5 • -1 o 140 •135 Ii a Rwe.nt "1+20 SERIES5 9 2 0 ] 967=100 0.1 132.7 11/82 O 0. T 132.6 12/82 1 2 3 4 1.3 0.7 1.5 2.3 134.3 133.5 134.6 135.6 1/8 3 2/83 3/83 4/83 5 6 7 8 4.0 5.4 6.1 5.9 137.9 139.8 140.7 140.4 5/83 6/83 7/8 3 8/83 9 7.6 142.7 9/8 3 +12 +18 Months from reference troughs • 155 \ MONTHS DEVIFROM A T I O N S CURRENT MONTH SPEC. FROM ACTUAL AND TROUGH 12/82 DATA YEAR 145 current 9*0. Composite ir indicators [CCCl •-I m - 1 Actual data for -I +30 DEVIMONTHS FROM A T I O N S CURRENT MONTH FROM ACTUAL AND REF. TROUGH DATA YEAR 7/81 0 • [7 i l l a SERIES» 9 1 0 ] 967=100 - i +10 1970 1.6 3.4 5.4 SERIES 920 1967=100 920. Composite ndex of 4 coincident indicators indicators L 0 Deviations front specific troughs 910. Composite index of 12 leading SERIES! 9 1 0 : 967=100 • 150 • 140 - DEVIMONTHS FROM A T I O N S CURRENT MONTH AND REP. FROM ACTUAL TROUGH DATA YEAR 7/81 I Median - +15 • 150 JT\ \ * Jl \* \ \ \ \ - +10 n/ rJ - +5 J 0 iff 12/82A11 WIlH r ...1 12 Months f +8 • 140 • 135 1.....I.....I.....1 - 6 • 145 +12 1..... +18 specific troughs NOTE: For an explanation of these charts, see "How to Read Charts" on p. 106 of the July 1983 issue. 109 ALPHABETICAL INDEX—SERIES FINDING GUIDE Series title (See complete titles in "Titles and Scurcesof Series." following this index) Current issue Series <Page numbers) number Charts Tables Historical data (issue date) Series description (*) 2 604 16 56 61 92 8/81 1/83 18 64 61 970 58 974 975 971 976 978 977 972 973 24 38 22 38 38 38 38 38 38 38 38 67 76 65 76 76 76 76 76 76 76 76 6/82 6/82 12/82 5/83 5/83 5/83 5/83 5/83 5/83 5/83 5/83 34 34 31 48 48 48 48 49 48 48 48 616 55 56 22 92 65 1/83 8/83 64 50 A Accession rate, manufacturing Agrteulbral products, exports Anticipations mid intentions Business expenditures, new plant and equipment Business expenditures, new plant and equipment, Dl Consjmer sentiment, index Empbyee:;, manufacturing and trade, Dl Inventories, manufacturing and trade, Dl New ardeis. manufacturing, Dl ,.. Prices, manufacturing, Dl Prices, retail trade, Dl Prices, wholesale trade, Dl , Prodis, nunufaetunng and trade, 01 Sales, manufacturing and trade, Dl Automobiles Imports ol automobiles and parts Personal consumption expenditures B Balance of payments—See International transactions. Bank loans—See Business Loans. Bank rates-See Interest rates. Bank reserve:; free leser/es Memter bunk borrowing from the Federal Reserve Bonds—See Interest rates. Borrowirg—See Credit. Budget—See Government. Building- See Construction, Building aermits. new private housing.. , Business equipment, industrial production Business expenditures, new plant and equipment Business expenditures, new plant and equipment. 01 Business failures, current liabilities Business forrration. index... „ Business mco'porations „ Business inveilories—See Inventories. Business loan; Loans outstanding, constant dollars,.,.. Loans outstanding, current dollars Loans outstanding, net change Business saving C Canada--See International comparisons, Capacity utilization Manufacturing (BEA) Manufacturing (FRB) , Materials Capital appropriations, manufacturing Backlog.. Newly appnvcd ,, Newly approved. Dl...; , Capital ecuiprrent. producer price index...Capital Mwestnent—See Investment, capital. Capital m/estnient commitments, Cl Cash flow, corwrate. constant dollars Cash flow, corporate, current dollars Civilian laior farce- -See also Employment. Employmen1 Employment as percent ol population Total Ijibor 'orce .,. Unempoyed ,,,, , Coincidem indicators, four Compose ndex ,., Composite ndex. rate of change Oiflusicn index Ratio to lagging indicators, composite index Commercial anj industrial buildings, contracts awarded Commercul anj industrial loans Loans ttulst.uiding. constant dollars........ Loans outstanding, current dollars Loans outstanding, net change Compensation—See also Income. Compensate, average hourly, nonfarm business sector Compersaticn of employees. NIPA Compersaticn of employees, percent of national income Compersaticn. real average hourly, nonfarm business sector Earnings, avmage hourly, production workers. private nonlarm economy Earning!*. re« I average hourly, production workers. private nonlarm economy : Wage and benefit decisions, first year Wage and benefit decisions, life ol contract Wages end sVaries m mining, manufacturing. and constriction Composite mtoes Coincident indicators Four comtiders. index . Four coinoders, rate of change Ratio to legging indicator index . .... Lagging indicators Six laggen,, index ........, . Six laggen,. rate ol change Leading indicators Capitjil investment commitments Inventory nvestment and purchasing ,... Marginal employment adjustments Money anc financial Hows See notes at enc of index. 110 Current issue Series title (See complete titles in "Titles and Sources of Series," following this index) Series (page numbers? number Charts Tables Profitability Twelve leaders, index Twelve leaders, rate of change 916 910 910c 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 93 94 33 33 72 72 6/83 6/83 29 76 61 970 14 12 13 13,25 24 24 38 33 12,23 23 67 67 67 76 72 65 65 6/83 12/82 6/82 6/82 5/83 2/83 5/83 101 72 112 295 15,35 35 32 46 73 73 72 82 7/83 7/83 7/83 11/82 45 45 35 24 34 34 44 32 32 43 43 37 83 82 84 20 20 20 64 64 64 12/82 8/83 8/83 25 25 25 97 11 965 333 24 24 37 48 66 66 75 86 1/83 1/83 1/83 4/83 33 33 33 914 35 34 11 29 29 60 70 70 2/83 8/83 8/83 15 37 37 442 90 441 37 51 18 51 18.51 89 62 89 62,89 3/83 3/83 3/83 3/83 20 20 20 20 920 920c 951 940 9 10 39 36 11 23 60 74' 60 66 2/83 5/83 2/83 2/83 3/82 "is 101 72 112 15.35 35 32 73 73 72 7/83 7/83 7/83 43 43 345 280 49 45 87 82 11/82 10/82 56 56 15 15 32 64 30.47 70.83 9/83 56 346 49 88 11/82 56 340 49 87 9/83 15 341 348 349 49 50 50 87 88 88 9/83 8/81 8/81 15 62 62 53 19 63 8/83 22 920 920c 940 10 39 11 60 2/83 5/83 2/83 15 930 930c 10 39 60 2/83 5/83 15 914 915 913 917 11 11 11 11 60 60 60 60 2/83 2/83 2/83 2/83 15 15 15 15 '60' ' is Ratio to personal income Consumer installment loans, delinquency rate Consumer prices—See also International comparisons. All items Food Consumer sentiment, index 60 60 2/83 2/83 5/83 15 15 29 13,25 67 6/83 35 9 69 23 24 66 67 3/82 9/83 32 28 248 87 86 249 89 28 334 8 75 4? 25 25 47 25 25 48 12,21 22 83 67 67 83 67 67 86 64 65 10/82 8/83 8/83 10/82 8/83 6/83 4/83 6/83 12/82 51 51 51 51 51 35 60 26 24 73 4/83 4/83 4/83 2/82 43 43 43 45 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 35 113 32 72 95 39 15,35 33 73 72 320 322 49 49 84,95 84 65 3/83 3/83 12/82 59 59 31 525 53 90 4/83 64 20 12,23 66 9/83 32 10 116 23 34 66 73 9/83 8/83 32 46 58 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 Series description 11 10 39 66 Net change Historical data (issue date) 22 110 32 72 11/82 101 72 112 15,35 35 32 73 73 72 7/83 7/83 7/83 66 113 95 39 Ill 33 35 32 15,35 33 13,32 32 73 72 73 72 72 71 4/83 4/83 4/83 2/82 7/83 3/82 '« 98 331 28 48 69 85 2/83 4/83 60 43 43 43 43 43 45 D Debt-See Credit. Defense and space equipment, output Defense Department Gross obligations incurred Gross unpaid obligations Net outlays Personnel, civilian Personnel, military Prime contract awards Defense products Inventories, manufacturers' New orders, manufacturers' Shipments, manufacturers' Unfilled orders, manufacturers' Defense products industries, employment Defense purchases, goods and services, NIPA Defense purchases, percent of GNP Deficit—See Government. Deflators—See Price indexes. Delinquency rate, consumer installment loans Deliveries, vendor performance Diffusion indexes Business expenditures, new plant and equipment Capital appropriations, manufacturing Coincident indicators Employees, manufacturing and trade Employees on private nonagricultural payrolls Industrial production Industrial production, components Initial claims, State unemployment insurance Inventories, manufacturing and trade Lagging indicators Leading indicators New orders, durable goods industries New orders, durable goods industries, components New orders, manufacturing Profits, manufacturing Profits, manufacturing and trade Raw industrials, spot market prices Raw industrials, spot market prices, components Sales, manufacturing and trade Selling prices, manufacturing Selling prices, retail trade Selling prices, wholesale trade Stock prices, 500 common stocks Workweek, manufacturing production workers Workweek, manufacturing production workers, components Disposable personal income—See income. „,. 557 54 91 7/82 517 543 580 578 577 525 53 53 54 55 55 53 90 90 91 91 91 90 7/82 4/83 7/83 12/82 12/82 4/83 559 548 588 561 570 564 565 54 53 54 54 55 55 55 91 90 91 91 91 91 91 6/83 6/83 6/83 6/83 7/83 11/82 11/82 39 32 33 12,21 72 64 2/82 5/83 45 28 970 965 951 974 963 966 38 37 36 38 36 37 6/82 1/83 2/83 5/83 7/83 7/82 34 33 15 48 15 24 962 975 952 950 964 36 38 36 36 37 5/83 5/83 2/83 2/83 6/83 18 48 15 15 26 971 960 972 967 38 37 38 37 5/83 12/82 5/83 6/83 48 973 976 978 977 968 961 38 38 38 38 37 36 76 75 74 76 74 75 78 74 76 74 74 75 77 76 75 76 75 79 76 76 76 76 75 74 5/83 5/83 5/83 5/83 6/83 7/83 48 48 49 48 36 15 77 64 26 *53 48 36 ALPHABETICAL INDEX—SERIES FINDING GUIDE—Continued Series title (See complete titles in "Titles and Sources of Series." following this index) E Earnings-See Compensation. Employment and unemployment Accession rate, manufacturing Civilian labor force, total Defense Department personnel, civilian Defense Department personnel, military Employee-hours in nonagricultural establishments Rate of change Total . Employees in mining, manufacturing, and construction . . Employees, manufacturing and trade. Dl . Employees on nonagricultural payrolls . ... Employees on private nonagncullural payrolls. Dl Employment in defense products industries . Employment, ratio to population Employment, total civilian . . . ... Help-wanted advertising in newspapers Help-wanted advertising, ratio to unemployment Initial claims. State unemployment insurance Initial claims. State unemployment insurance, Dl Layoff rate, manufacturing Marginal employment adjustments, Cl Overtime hours, manufacturing production workers Participation rate, both sexes, 16-19 years old Participation rate, females 20 years and over Participation rate, males 20 years and over Part-time workers tor economic reasons Persons engaged in nonagricultural activities Quit rate, manufacturing.. .. Unemployed, both sexes, 1619 years old Unemployed, females 20 years and over Unemployed, full-time workers Unemployed, males 20 years and over Unemployment, average duration Unemployment rate, 15 weeks and over Unemployment rate, insured, average weekly Unemployment rate, total Unemployment, total civilian Workweek, manufacturing production workers Workweek, manufacturing production workers, components Workweek, manufacturing production workers, Dl Equipment—See Investment, capital. Exports—See International transactions. F Federal funds rate Federal Government—See Government. Federal Reserve, member bank borrowing from Final sales in constant dollars Financial flows, Cl Fixed investment—See Investment, capital. Fixed-weighted price index, gross domestic business product Food—See Consumer prices. Foreign trade—See International transactions. France—See International comparisons. Free reserves G Goods output in constant dollars Government budget, NIPA Federal expenditures Federal receipts Federal surplus or deficit State and local expenditures State and local receipts State and local surplus or deficit Surplus or deficit, total Government purchases of goods and services Federal, constant dollars Federal, current dollars Federal, percent of GNP National defense National defense, percent of GNP State and local, constant dollars State and local, current dollars State and local, percent of GNP Total, constant dollars ., Total, current dollars Gross domestic business product, fixed-weighted price index Gross domestic product, labor cost per unit Gross national product GNP, constant dollars GNP, constant dollars, differences GNP, constant dollars, percent changes GNP, current dollars GNP, current dollars, differences GNP, current dollars, percent changes GNP, ratio to money supply Ml Goods output in constant dollars Implicit price deflator Per capita GNP, constant dollars Gross private domestic investment—See Investment, capital. H Help-wanted advertising in newspapers Help-wanted advertising, ratio to unemployment Hours of production workers, manufacturing Series number Charts Historical Tables data (issue date) 2 441 578 577 16 51 55 55 61 89 91 91 8/81 3/83 12/82 12/82 48c 48 39 17 ei" 10/83 10/83 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 45 43 37 1 17 38 14,17 36 55 18 51 17 17 12,16 36 16 11 16 51 51 51 51 17 16 51 51 51 51 15,18 18 18 18 18.51 12.16 62 76 62 74 91 62 89 61 61 61 74 61 60 61 89 89 89 89 62 61 89 89 89 89 62 62 62 62 62.89 61 7/83 5/83 7/83 7/83 7/83 3/83 3/83 7/82 3/83 5/83 5/83 8/81 2/83 7/83 3/83 3/83 3/83 3/83 3/83 8/81 3/83 3/83 3/83 3/83 3/83 3/83 3/83 3/83 3/83 7/83 961 36 77 74 7/83 44 119 94 213 917 33 40 11 72 80 60 311 Series description <*) 18 20 15 15 48 15 15 20 20 19 19 18 18 18 15 15 20 20 20 20 20 18 20 20 20 20 20 20 18 20 20 15 i5 10/83 46 6/83 10/83 2/83 45 49 15 8/83 93 6/83 49 8/83 502 501 500 512 511 510 298 52 52 52 52 52 52 46 90 90 90 90 90 90 83 10/83 10/83 10/83 10/83 10/83 10/83 11/82 62 62 62 62 62 62 58 263 262 265 564 565 267 266 268 261 260 43 43 47 55 55 43 43 47 43 43 81 81 83 91 91 81 81 83 81 81 11/82 11/82 11/82 11/82 11/82 11/82 11/82 11/82 11/82 11/82 53 53 53 53 53" 53 53 53 53 311 68 48 30 84 70 8/83 8/83 58 39 50 50b 50c 200 200b 200c 107 49 310 217 19,40 63,80 10/83 10/83 10/83 10/83 10/83 10/83 9/83 8/83 8/83 10/83 49 49 49 49 49 49 40 25 49 49 39 40 31 20 48 40 71 63 84 80 Current issue (page numbers) Series number Charts Tables Series title (See complete titles in "Titles and Sources of Series," following this 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 21 1 961 28 25 29 13,25 89 25 249 47 I Implicit price deflator, GNP Imports—See International transactions. Compensation, average hourly, nonfarm business sector Compensation of employees Compensation of employees, percent of national income Compensation, real average hourly, nonfarm business sector Consumer installment credit, ratio to personal income Corporate profits with IVA and CCAdj Corporate profits with IVA and CCAdj, percent of national income Disposable personal income, constant dollars. Disposable personal income, current d o l l a r s . . . Disposable personal income, per capita, constant dollars. . Earnings, average hourly, production workers, private nonfarm economy . Earnings, real average hourly, production workers, private nonfarm economy.., Income on foreign investments in the United States .. Income on U.S. investments abroad lnterest.net. Interest, net, percent of national income National income Personal income, constant dollars Personal income, current dollars Personal income, less transfer payments, constant dollars Rate of change. Total 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,. I Wage and benefit decisions, first year " Wage and benefit decisions, life of contract Wages and salaries in mining, manufacturing, ,, and construction I Incorporations, new businesses Industrial commodities, producer price index Industrial production—See also International comparisons. I h Business equipment Consumer goods .... , Durable manufactures i Nondurable manufactures ' Total ,• Total, components. Total, Dl l Total, rate of change | Industrials, raw, spot market prices Components , Diffusion index I Spot market index | Installment credit-See Credit. Insured unemployment 1 Average weekly initial claims I Average weekly initial claims, Dl Average weekly insured unemployment rate Interest, net t 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 1. International comparisons I Consumer prices Canada ,> France I. Italy i. Japan : t. United Kingdom J United States ).. West Germany Industrial production Canada France 1 I Italy 46 60 17 17 61 61 7/82 3/83 19 19 16 61 12,16 61 77 36 74 Japan OECD, European countries United Kingdom United States (.. !!.. ,. West Germany L 67 67 67 83 310 48 345 280 49 45 87 82 Historical data (issue date) Series description <*) 7/83 7/83 7/83 6/83 6/83 8/83 10/82 35 35 51 51 8/83 11/82 10/82 56 56 64 30,47 70,83 9/83 56 346 95 286 49 15,35 45 88 73 82 11/82 4/83 10/82 56 43 37 287 225 224 47 40 40 83 80 80 10/82 10/83 10/83 37 22 22 227 40 80 10/83 22 340 49 87 9/83 15 341 652 651 288 289 220 52 223 49 57 57 45 47 45 19 40 87 93 93 82 83 82 63 63 9/83 8/83 8/83 10/82 10/82 10/83 8/83 8/83 15 65 65 57 57 55 22 22 51c 51 108 282 39 14,19 31 45 '63* 71 82 8/83 8/83 4/83 10/82 22 40 56 283 284 47 45 83 82 10/82 10/82 56 57 285 348 349 47 50 50 83 88 88 10/82 8/81 8/81 57 62 62 53 13 335 19 23 48 63 65 85 8/83 5/83 6/82 22 32 24 67 76 22 65 75 20 63 73 20 63 74 47 14,20,58 63,94 78 37 75 966 39 47c 12/82 12/82 12/82 12/82 12/82 24 24 24 24 24 7/82 12/82 24 967 23 '37" 28 79 75 69 6/83 6/83 36 36 5 962 45 288 289 12.16 36 18 45 47 61 74 62 82 83 5/83 5/83 3/83 10/82 10/82 18 18 18 57 57 67 116 119 118 117 109 114 115 332 35 34 34 34 34 35 34 34 48 73 73 72 73 73 73 72 73 86 12/82 8/83 10/83 10/83 10/83 7/83 8/83 8/83 4/83 46 46 46 46 46 46 46 46 60 96 96 95 95 84,95 95 4/82 4/82 4/82 4/82 4/82 3/83 4/82 68 68 69 69 68 59 68 94 58 723 58 94 726 58 94 727 58 94 728 58 94 721 58 94 722 47 14.20,58 63,94 58 94 725 1/83 1/83 1/83 1/83 1/83 1/83 12/82 1/83 66 66 66 66 66 66 24 66 733 736 737 738 732 320 735 95 49' See notes at end of index. 111 ALPHABETICAL INDEX—SERIES FINDING GUIDE—Continued Series title (See complete titles in "Titles and Sources ot Series." following this index) Stock prices Canada. Francti Italy Japan United Kingdom , United States West (lermany Internationa transactions Balance tn goods and services Balance en merchandise trade Exports, merchandise, adjusted, excluding military Exports, merchandise, total excluding military aid Exports ol domestic agricultural products Exports of goods and services, constant dollars, NIPA Exports ol goods and services, current dollars. NIPA... Exports ol goods and services, excluding military Exports ot nonelectrical machinery Imports, merchandise, adjusted, excluding military Imports, merchandise, total Imports ol automobiles and parts Imports o : goods and services, constant dollars, NIPA Imports o' goods and services, current dollars, NIPA .. Imports o' goods and services, total Imports o petroleum and products Income or foreign investments in the United States ... Income or U.S. investments abroad Net cxpors of goods and services, constant dollars. NIPA Net exports of goods and services, current collars. NIPA , Net exports of goods and services, percent of GNP Inventores Business nventories, change, constant dollars, NIPA .. Business inventories, change, current dollars, NIPA Business nventories. change, percent of GNP Defense pioducts. manufacturers' Finished goods, manufacturers' Invert :orie:. on hand and on order, net change Inventories to sales ratio, manufacturing and trade.... Inventory investment and purchasing, Cl Manufacturing and trade, constant dollars Manufacturing and trade, current dollars Manufacturing and trade, current dollars, change MamracUring and trade, Dl Materials end supplies on hand and on order. manufsctjring Mater als end supplies on hand and on order. mamilactjring, change , Investment, cipital Capital appropriations, manufacturing, backlog Capital apfropriations, manufacturing, new Capital appropriations, manufacturing, new, Dl Capital investment commitments, Cl Constiucticn contracts, commercial and industrial Constiucticn expenditures, business, plus machinery and nquipment sales...,. Gross private domestic investment Business, inventories, change—See Inventories. Fixtid investment, constant dollars Fixdd investment, current dollars Nor resit ential. constant dollars Norresicential, percent of GNP Producers' durable equipment, nonresidential, constant dollars Resdenlal, constant dollars Res dental, percent ot GNP Structures, nonresidential, constant dollars Totnl. constant dollars Totiil, eurrent dollars New oiders capital goods, nondefense, constant dollars , New oiders capital goods, nondetense, current dollars Plant and equipment Business expenditures, new Business expenditures, new. Dl Conrad;; and orders, constant dollars Contract!! and orders, current dollars Investment, foieign Income on foreign investments in the United States ... Income on U.S. investments abroad., Italy—See International comparisons. Series number Current issue ^page numbers) Charts Tables Historical data (issue date) Series description C) 743 746 747 748 742 19 745 59 59 59 59 59 59 59 96 96 96 96 96 96 96 12/82 12/82 12/82 12/82 12/82 12/82 12/82 70 70 70 70 70 36 70 667 622 618 602 604 256 252 668 606 620 612 616 257 253 669 614 652 651 57 57 57 56 56 44 44 57 56 57 56 56 44 44 57 56 57 57 93 93 93 92 92 82 82 93 92 93 92 92 82 82 93 92 93 93 8/83 8/83 8/83 5/82 1/83 10/82 10/82 8/83 1/83 8/83 5/82 1/83 10/82 10/82 8/83 1/83 8/83 8/83 65 65 65 64 64 54 54 65 64 65 64 64 54 54 65 64 65 255 44 250 251 44 47 82 83 10/82 10/82 54 54 30 245 247 559 65 26,42 42 47 54 27 13.26 15.27 11 27 27 26 38 68,81 81 83 91 68 68 68 60 68 68 68 76 8/83 10/82 10/82 6/83 6/83 9/83 9/83 2/83 9/83 9/83 9/83 5/83 51 51 51 '28' 28 28 15 28 28 28 48 27 68 S 915 70 71 31 975 10/82 6/83 6/83 97 11 965 914 9 24 24 37 11 23 66 66 75 60 66 1/83 1/83 1/83 2/83 3/82 33 33 33 15 32 69 24 67 9/83 28 243 242 86 248 42 42 25 47 81 81 67 83 10/82 10/83 8/83 10/82 51 51 51 51 88 89 249 87 241 240 25 25 47 25 42 42 67 67 83 67 81 81 8/83 8/83 10/82 8/83 10/83 10/83 51 51 51 51 51 51 9/83 9/83 61 970 20 10 24 38 12.23 23 67 76 66 66 6/82 6/82 9/83 9/83 34 34 32 32 652 651 57 57 93 93 8/83 8/83 65 65 Japan—Ste International comparisons. Labor cos! per unit of gross domestic product Labor cost per unit of output, manufacturing Actual data Actual data is percent of trend Labor cost per unit of output, private business sector.. Labor cost, price per unit of, nonfarm business Labor forej-See Employment. Lagging indicators, six Composite irdex „ Composite index, rate of change Diffusion indix Layoff rate, manufacturing leading indicators, twelve Compos te index Compos te index, rate ot change See notes at em) ot index, 112 68 30 70 8/83 39 62 62 63 26 30 15 30 29 70 70 70 70 2/83 2/83 9/83 9/83 39 930 930c 952 3 10 39 36 16 60 2/83 5/83 2/83 8/81 910 910c 10 39 60 74' 61 2/83 5/83 •39 15 '1i8s 15 Curfent Series title (See complete titles in "Titles and Sources of Series," following this index) Diffusion index Liabilities of business failures liquid assets, change in total loans-See Credit. Series number 950 14 104 Charts 'ssue > Tables Historical data (issue date) Series description (•) 36 33 31 74 72 71 2/83 5/83 4/83 15 44 40 ( p a g e numbcfS M Man-hours—See Employment. Marginal employment adjustments, Cl Materials and supplies on hand and on order, manufacturing Materials and supplies on hand and on order, manufacturing, change Materials, new orders for consumer goods amt Materials prices—See Price indexes. Materials, rate of capacity utilization Merchandise trade-See International transactions. Military-See Defense. Money and financial flows. Cl Money supply Liquid assets, change in total Money supply M l , constant dollars Money supply Ml, percent changes Money supply M2, constant dollars Money supply M2, percent changes Ratio, GNP to money supply Ml Ratio, personal income to money supply M2 Mortgage debt, net change Mortgage yieWs, secondary market Municipal bond yields 913 11 60 2/83 15 78 27 68 6/83 28 38 8 26 12,21 68 64 6/83 6/83 28 26 84 20 64 8/83 917 11 60 2/83 104 105 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 4/83 4/83 4/83 4/83 4/83 9/83 4/83 3/82 10/83 10/83 40 40 40 40 40 40 40 42 46 46 27 24 8 23 23 12,21 66 66 64 9/83 9/83 6/83 26 26 26 20 12,23 66 9/83 32 10 548 7 6 23 53 21 21 9/83 6/83 6/83 6/83 32 26 26 26 6/83 5/83 '26 48 N National defense-See Defense. National Government—See Government National income—See Income. New orders, manufacturers' Capital goods industries, nondefense, constant dollars Capital goods industries, nondefense, current dollars. Consumer goods and materials, constant dollars Contracts and orders, plant and equipment. constant dollars Contracts and orders, plant and equipment. current dollars Defense products Durable goods industries, constant dollars Durable goods industries, current dollars Components . Diffusion index New orders, manufacturing, Dl Presidential fixed investment, GPDI Producers' durabte equipment, constant dollars Structures, constant dollars Total, constant dollars Total, percent of GNP 964 971 37 38 66 90 64 64 7 75 76 88 87 86 248 25 25 25 47 67 67 67 83 8/83 8/83 8/83 10/82 51 51 51 51 517 543 721 53 53 58 90 90 94 7/82 4/83 1/83 '66 580 54 91 7/83 557 49 54 20 91 63 7/82 8/83 62 62 358 370 83 82 84 21 30 15 50 50 20 20 20 16 70 70 88 88 64 64 64 61 2/83 2/83 12/82 11/82 12/82 8/83 8/83 7/83 39 453 452 451 51 51 51 89 89 89 3/83 3/83 3/83 20 20 20 55 233 232 238 236 239 237 231 230 235 22 41 41 41 41 41 41 41 41 47 65 80 80 81 81 81 81 80 80 83 8/83 10/83 10/83 10/83 10/83 10/83 10/83 10/83 10/83 10/83 50 50 50 50 50 50 50 50 50 50 292 293 614 46 46 56 82 83 92 11/82 11/82 1/83 58 58 64 61 970 20 10 90 24 38 12,23 23 18 67' 76 66 66 62 6/82 6/82 9/83 9/83 3/83 34 34 32 32 20 . 7 0 Obligations incurred, Defense Department Obligations unpaid, Defense Department OECO, 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 . . *25 61 61 25 25 25 15 P Participation rates, civilian labor force Both sexes, 16-19 years of age Females 20 years and over Males 20 years and over Personal consumption expenditures Automobiles Durabte goods, constant dollars Durable goods, current dollars Nondurable goods, constant dollars Nondurable goods, current dollars Services, constant dollars Services, current dollars Total, constant dollars Total, current dollars Total, percent of GNP Personal income—See Income. Personal saving Personal saving rate Petroleum and products, imports Plant and equipment—See also Investment, capital. Business expenditures, new Business expenditures, new, Dl Contracts and orders, constant dollars Contracts and orders, current dollars Population, civilian employment as percent of .,.,. ALPHABETICAL INDEX—SERIES FINDING GUIDE—Continued Series title (See complete titles in "Titles and Sources of Series," following this index) Price indexes Consumer prices—See also International comparisons. All items Food Deflators, NIPA Fixed-weighted, gross domestic business product Implicit price deflator, GNP Labor cost, price per unit of, nonfarm business Producer prices All commodities . . . Capital equipment ... . . Crude materials Finished consumer goods. . ,. Industrial commodities Intermediate materials . Sensitive crude and intermediate materials Raw industrials, spot market prices Components . . . Diffusion index . . Spot market index Sensitive crude and intermediate materials, change in producer prices . Sensitive materials prices, percent change Stock prices—See also International comparisons. 500 common stocks 500 common stocks, Dl Price to unit labor cost, nonfarm business. Prices, selling Manufacturing, Dl Retail trade, Dl . . . Wholesale trade, Dl Prime contract awards, Defense Department. . . Prime rate charged by banks Producer prices—See Price indexes. Producers' durable equipment, nonresidential, GPDI Production—See Gross national product and Industrial production. Productivity Output per hour, nonfarm business sector Output per hour, private business sector Profitability, Cl Profits Corporate profits after taxes Constant dollars Current dollars With IVA and CCAdj, constant dollars With IVA and CCAdj, current dollars. . Corporate profits, total With IVA and CCAdj With IVA and CCAdj, percent of national income Manufacturing and trade, Dl. . . ... Manufacturing, Dl Per dollar of sales, m a n u f a c t u r i n g . . . . Profitability, Cl Ratio, profits to corporate domestic income Ratio, profits with IVA and CCAdj to corporate domestic income Proprietors' income with IVA and CCAdj Proprietors' income with IVA and CCAdj, percent of national income Current issue Series (page numbers) number Charts Tables Series description 3/83 3/83 8/83 8/83 9/83 59 59 Series title (See complete titles in "Titles and Sources of Series," following this index) Current issue Series (page numbers) number Charts Tables Historical data (issue date) Series description (*) S 320 322 49 49 84,95 311 310 26 48 48 29 330 333 331 334 335 332 98 48 48 48 48 48 48 28 85 86 85 86 85 86 69 5/82 4/83 4/83 4/83 6/82 4/83 2/83 59 60 60 60 967 23 37 28 79 75 69 6/83 6/83 36 36 98 99 28 13,28 69 69 2/83 2/83 19 968 26 13,28 37 29 69 75 70 7/82 6/83 9/83 976 978 977 525 109 38 38 38 53 35 76 76 76 90 73 5/83 5/83 5/83 4/83 7/83 58 49 36 36 ' 48 49 48 64 46 8/83 213 40 69 57 56 973 77 59 54 24 14,22 22 38 15,27 22 22 67 65 65 76 68 65 65 9/83 9/83 9/83 5/83 9/83 9/83 9/83 28 28 28 48 28 31 31 295 298 290 292 293 46 46 46 46 46 82 83 82 82 83 11/82 11/82 11/82 11/82 11/82 37 58 58 58 58 98 99 588 28 13,28 54 69 69 91 2/83 2/83 6/83 967 23 '37' 28 79 75 69 6/83 6/83 36 36 19 968 78 13,28 37 27 69 75 68 7/82 6/83 6/83 36 36 28 38 26 114 115 34 34 72 73 8/83 8/83 46 46 91 60 5 962 3 15,18 17 12,16 36 16 62 61 61 74 61 3/83 3/83 5/83 5/83 8/81 20 19 18 18 18 446 445 447 444 37 4 51 51 51 51 18,51 16 89 89 89 89 62,89 61 3/83 3/83 3/83 3/83 3/83 8/81 20 20 20 20 20 18 44 45 43 18 18 18 62 62 62 3/83 3/83 3/83 20 18 20 561 96 25 54 21 21 91 64 64 6/83 6/83 6/83 26 26 Velocity of money GNP to money supply M l , ratio Personal income to money supply M2, ratio. Vendor performance, slower deliveries 107 108 32 31 31 12,21 71 71 64 9/83 4/83 5/83 40 40 28 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 12,16 15 *36" 61 77 74 7/83 961 7/83 "is" 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. 61 61 15 Treasury bill rate Treasury bond yields 69 69 69 69 8/83 8/83 8/83 8/83 37 37 37 37 45 -47 38 37 29 11 29 82 83 76 75 70 60 69 10/82 10/82 5/83 12/82 5/83 2/83 8/83 37 37 48 "38' 15 37 29 45 70 82 8/83 10/82 37 56 Unemployment Duration of unemployment, average Help-wanted advertising, ratio to unemployment Initial claims for unemployment insurance . Initial claims for unemployment insurance, D l . Layoff rate, manufacturing Number unemployed, civilian labor force Both sexes, 16-19 years of age. . Females 20 years and over, Full-time workers.... Males 20 years and over. . .. Total unemployed.... Quit rate, manufacturing, Unemployment rates 50 50 11 18 16 28 28 29 29 286 287 972 960 15 916 22 81 282 283 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. 12/82 11/82 2/83 358 370 916 47 15 weeks and over.. Insured unemployment Total 10/82 Quit rate, manufacturing Raw industrials, spot market prices Components Diffusion index Spot market index Rental income of persons with CCAdj Rental income of persons with CCAdj, percent of national income Reserves, free Residential fixed investment, constant dollars, GPDI.... Residential fixed investment, percent of GNP Residential structures—See Housing. Retail sales, constant dollars Retail sales, current dollars Historical data (issue date) Unfilled orders, manufacturers' Defense products Durable goods industries Durable goods industries, change United Kingdom—See International comparisons. 8/81 967 23 284 37 28 45 79 75 69 82 6/83 6/83 10/82 36 36 57 285 93 89 249 47 33 25 47 83 72 67 83 10/82 6/83 8/83 10/82 57 45 51 51 59 54 22 22 65 65 9/83 9/83 31 31 10/83 6/83 NOTE: CCAdj, capital consumption adjustment; Cl, composite index; Dl, diffusion index; GNP, gross national product; GPDI, gross private domestic investment; IVA, inventory valuation adjIjustment; NIPA, national income and product accounts. * The number shown is the page of the Handbook of Cyclical Indicators (1977) on which the series description appears. 113 TITLES AND SOURCES OF SERIES Series are listed below according to the sections of this report in which they appear. Series numbers are for identification only and do not reflect relationships or order among the series. "M" following a series title indicates monthly data; "Q" indicates quarterly data. Data apply to the whole period except when indicated by "EOM" (end of month) or "EOQ" (end of quarter). To save space, the commonly used sources listed below are referred to by number: Source 1—U.S. Department of Commerce, Bureau of Economic Analysis; Source 2—U.S. Department of Commerce, Bureau )f the Census; Source 3—U.S. Department of Labor, Bureau of Labor Statistics; Source 4-Board of Governors of the rednral Reserve System. Bureau of Economic Analysis (Used by permission. This series may not be reproduced without written permission from the source.) (23,66) 10. Contracts and orders for plant and equipment in current dollars (M).-Source 2 and McGraw-Hill Information Systems Company; seasonal adjustment by Bureau of the Census and Bureau of Economic Analysis (23,66) 11. Newly approved capital appropriations, 1,000 manufacturing corporations (Q).-The Conference Board (24,66) 12. Index of net business formation (M).—Source 1; seasonal adjustment by Bureau of Economic Analysis and National Bureau of Economic Research, Inc. (12,23,65) Following the source for each series is an indication of the page;; oi which that series appears. The "Series Finding Guidii" JISO lists chart and table page numbers for each series. 13. Number of new business incorporations (M).—Dun & Brad street, Inc.; seasonal adjustment by Bureau of Economic Analysis and National Bureau of Economic Research, Inc. (23,65) I-A. Composite Indexes 14. Current liabilities of business failures (M).-Dun & Bradstreet, Inc. (33,72) 910. Composite index of twelve leading indicators (includes series 1, 5( 8, 12, 19, 20, 29, 32, 36, 99,106, 111) (M).-Source 1 (10,39,60) 15. Profits (after taxes) per dollar of sales, all manufacturing corporations (Q).-Federal Trade Commission; seasonal adjustment by Bureau of Economic Analysis (29,70) 913. Composite index of marginal employment adjustments {includes series 1, 2, 3, 5) (M)-Source 1 (11,60) 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) 37. Number of persons unemployed, labor force survey (M).-Sources 2 and 3 (18,51,62,89) 38. Change in stocks of materials and supplies on hand and on order, manufacturing (M).-Source 2 (26,68) 39. Percent of consumer installment loans delinquent 30 days and over (EOM).—American Bankers Association (33,72) 40. Number of employees in nonagricultural goodsproducing industries-mining, manufacturing, and construction (M).-Source 3 (17,62) 41. Number of employees on nonagricultural payrolls, establishment survey (M).-Source 3 (14,17,62) 914. Composite index of capital investment commitments (includes series 12, 20, 29) (M)-Source 1 (11,60) 16. Corporate profits after taxes in current dollars ( Q ) . Source 1 (28,69) 915. Composite index of inventory investment and purchasing (includes series 8,32, 36, 99) (M).-Source 1 (11,60) 916. Composite Index of profitability (Includes series 19,26, 80) (M).-Source 1 (11,60) 18. Corporate profits after taxes in 1972 dollars (Q).~ Source 1 (28,69) 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).-Source$2 and 3 (18,62) 20. Contracts and orders for plant and equipment in 1972 dollars (M).-Sources 1, 2, 3, and McGraw-Hill Information Systems Company (12,23,66) 45. Average weekly insured unemployment rite, 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 (17,61) 22. Ratio of profits (after taxes) to total corporate domestic income (Q).-Source 1 (29,69) 47. Index of industrial production, total (M).—Source 4 (14,20,39,58,63,78,94) 23. Index of spot market prices, raw industrial materials (M).—Source 3 and Commodity Research Bureau, Inc. (Used by permission. Beginning with June 1981, this series may not be reproduced without written permission from Commodity Research Bureau, Inc.) (28,69,79) 24. Value of manufacturer's new orders, capital goods industries, nondefense, in current dollars (M).—Source 2 (23,66) 48. Employee-hours in nonagricultural establishment* (M).-Source 3 (17,39,61) 49. Value of goods output in 1972 dollars (Q)-Source 1 (20,63) 917. Composite index of money and financial flows (includes series 104, 106, 111) (M).-Source 1 (11,60) 920. Composite index of four roughly coincident indicators (includes series 41, 47, 51, 57) (M).-Source I (10,39,60) 930. Composite index of six lagging indicators (includes series 62, 77, 91, 95, 101, 109) (M).-Source 1 (103,60) 940. Itatii), coincident composite index (series 920) to lagKing composite index (series, 930) (M).-Source I (11,60) 1-B. Cyclical Indicators 1. Average workweek of production workers, rnanjfaduring (M).-Source 3 (12,16,61,77) 2. Recession rate, manufacturing (M).-Source 3 (16,61) 3. layoff rate, manufacturing (M).-Source 3 (16,61) 4. (|uit rate, manufacturing (M).-Source 3 (16,61) 5. Avenge 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. Valuu of manufacturers' new orders, durable goods industries, in current dollars (M).-Source 2(21,64,77) 7. Valui; of manufacturers' new orders, durable goods industries, in 1972 dollars (M).—Sources 1, 2, and 3 (21,64) 8. Valun 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 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) 42. Number of persons engaged in nonagricultural activities, labor force survey (M).-Sources 2 and 3 (17,62) 50. Gross national product in 1972 dollars (Q).-Source 1 (19,39,40,63,80) 51. Personal income, less transfer payments, in 1972 dot* lars (M).-Source 1 (14,19,39,63) 52. Personal income, total, in 1972 dollars (M).-Source 1 (19,63) 27. Value of manufacturers' new orders, capital goods industries, nondefense, in 1972 dollars (M).—Sources 1, 2, and 3 (23,66) 53. Wage and salary income in mining, manufacturing, and construction in 1972 dollars (M).-Sources 1 and 3 (19,63) 54. Sales of retail stores in current dollars (M).-Source 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) 55. Personal consumption expenditures, automobiles (Q).-~ Source 1 (22,65) 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) 2 (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)4—University of Michigan, Survey Research Center ' (22,65) 59. Sales of retail stores in 1972 dollars (M).-Sources 1 2, and 3 (22,65) TITLES AND SOURCES OF SERIES- Continued 60. Ratio, help-wanted advertising in newspapers (series 46) to number of persons unemployed (series 37) (M).-Sources 1, 2, 3, and The Conference Board (17,61) 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) 86. Gross private domestic fixed investment, total nonresidential, in 1972 dollars (Q).-Source 1(25,67) 87. Gross private domestic fixed investment, nonresidential structures, in 1972 dollars (Q).-Source 1 (25,67) 88. Gross private domestic fixed investment, nonresidential producers' durable equipment, in 1972 dollars (Q).— Source 1 (25,67) 119. Fede al funds rate (M).-Source 4 (34,72) 1-C. Diffusion Indexes 950. Diffu ;ion index of twelve leading indicator components (M).^Source 1 (36,74) 951. Diffusion index of four roughly coincident indicator components (M).-Source 1 (36,74) 89. Gross private domestic fixed investment, total residential, in 1972 dollars (Q).-Source 1 (25,67) 952. Diffusion index of six lagging indicator components (M), -Source 1 (36,74) 90. Ratio, civilian employment to total population of working age (M).-Sources 1, 2, and 3 (18,62) 63. Index of unit labor cost, private business sector (Q).— Source 3 (30,70) 91. Average (mean) duration of unemployment in weeks (M).-Sources 2 and 3 (15,18,62) 960. Diffision index of net profits, manufacturing—about 600 companies (Q).-Dun & Bradstreet, Inc. (Used by pern ission. This series may not be reproduced without written permission from the source.) (35,75) 64. Compensation of employees as a percent of national income (Q).-Source 1 (30,47,70,83) 93. Free reserves (member banks excess reserves minus borrowings) (M).-Source 4 (33,72) 65. Manufacturers' inventories of finished goods, book value, all manufacturing industries (EOM).-Source 2 (27,68) 961. Diffision 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) 66. Consumer installment credit (EOM).-Source 4 95. Ratio, consumer installment credit to ptrsonil income (EOM).-Sources 1 and 4 (15,35,73) (35,73) 67. Bank rates on short-term business loans (Q).-Source 4 (35,73) 68. Labor cost (current dollars) per unit of gross domestic product (1972 dollars), nonfinancial corporations—ratio of current-dollar compensation of employees to real gross corporate product (Q).-Source 1 (30,70) 69. Manufacturers' machinery and equipment sales and business construction expenditures (industrial and commercial construction put in place) (M).—Source 2 (24,67) 70. Manufacturing and trade inventories in 1972 dollars (EOM).-Sources 1, 2, and 3 (27,68) 71. Manufacturing and trade inventories, total book value, in current dollars (EOM).-Sources 1 and 2 (27,68) 72. Commercial and industrial loans outstanding in current dollars (M).-Sources 1 and 4 (35,73) 73. Index of industrial production, durable manufactures (M).-Source 4 (20,63) 74. Index of industrial production, manufactures (M).-Source 4 nondurable (20,63) 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 ( E O 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 (20,64) 85. Change in money supply Ml (M).-Source 4 (31,71) 96. Manufacturers' unfilled orders, durable goods industries (EOM).-Source 2 (21,64) 97. Backlog of capital appropriations, 1,000 manufacturing corporations (EOQ).-The Conference Board (24,66) 98. Change in producer prices for 28 sensitive crude and intermediate materials (M).—Sources 1 and 3 (28,69) 962. Diffision index of initial claims for unemployment insuance, State programs—51 areas (M).—Source 1 and J.S. Department of Labor, Employment and Training Adm nistration; seasonal adjustment by Bureau of Eco omic Analysis (36,74) 963. Diffision index of number of employees on private non agricultural payrolls—172-186 industries (M).— Soiree 3 (36,74) (13,28,69) 964. Diff ision index of value of manufacturers' new orders, dun ble goods industries— 34-35 industries ( M ) . Souces 1 and 2 (37,75,77) 965. Dif usion index of newly approved capital app opriations, deflated—17 manufacturing industries -The Conference Board (37,75) 101. Commercial and industrial loans outstanding in 1972 dollars (M).-Sources 1, 3r and 4 (15,35,73) 966. Diff jsion index of industrial production—24 industries (37,75,78). (M .-Sources 1 and 4 102. Change in money supply M2 (M) -Source 4 (31,71) 967. Diff sion index of spot market prices, raw industrials— 13 industrial materials (M).—Sources 1, 3, and Commodity Research Bureau, Inc. (35,75,79) 99. Change in sensitive materials prices (smoothed) (M).— Sources 1, 3, and Commodity Research Bureau, Inc. 104. Change in total liquid assets (smoothed) (M).-Sources 1 and 4 (31,71) 105. Money supply Ml in 1972 dollars (M) .-Sources 1,3, and 4 (31,71) 106. Money supply M2 in 1972 dollars (M)-Sources 1, 3, and 4 (13,31,71) 107. Ratio, gross national product to money supply 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).—Sources 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. Net change in consumer installment credit (M).-Source 4 (32,72) 114. Discount rate on new issues of 91-day Treasury bills (M).-Source 4 (34,72) 115. Yield on long-term Treasury bonds (M).-U.S. Department of the Treasury (34,73) 116. Yield on new issues of high-grade corporate bonds (M).-Citibank and U.S. Department of the Treasury (34,73) 117. Yield on municipal bonds, 20-bond average (M).-The Bond Buyer (34,73) 118. Secondary market yields on FHA mortgages (M).-U.S. Department of Housing and Urban Development, Federal Housing Administration (34,73) 968. Diffision index of stock prices,500 common stocks— 49- 2 industries (M).—Standard & Poor's Corporation (37,75) 970. Dif usion index of business expenditures for new plant ant equipment, total—22 industries (Q).-Source 1 (38,76) 971. Dif usion index of new orders, manufacturing—about 60) businessmen reporting (Q).—Dun & Bradstreet, Inc. (Used by permission. This series may not be reproduced without written permission from the source.) (38,76) 972. D fusion index of net profits, manufacturing and trade—about 1,400 businessmen reporting (Q).-Dun & Bndstreet, Inc. (Used by permission. This series may no: be reproduced without written permission from the so irce.) (38,76) 973. Oil fusion index of net sales, manufacturing and trade— ab>ut 1,400 businessmen reporting (Q).-Dun & Bndstreet, Inc. (Used by permission. This series may no be reproduced without written permission from the sojrce.) (38,76) 974. Di fusion index of number of employees, manufacturing and trade—about 1,400 businessmen reporting (Q).— Din & Bradstreet, Inc. (Used by permission. This series m iy not be reproduced without written permission from this source.) (38,76) 975. Diffusion index of level of inventories, manufacturing and trade—about 1,400 businessmen reporting (Q).— 0 n & Bradstreet Inc. (Used by permission. This series m iy not be reproduced without written permission from th source.) (38,76) 976. D ffusion index of selling prices, manufacturing—about 600 businessmen reporting (Q).-Dun & Bradstreet, Inc. (I sed by permission. This series may not be reproduced wthout written permission from the source.) (38,76) 115 TITLES AND SOURCES OF SERIES- Continued 977. Diffusion index of selling prices, wholesale trade-about 4(30 businessmen reporting (Q).-Dun & Bradstreetr Inc. (Used by permission. This series may not be reproduced without written permission from the source.) (38,76) 978. OH fusion index of selling prices, retail trade-about 400 businessmen reporting (Q).-Dun & Bradstreetr Inc. (Used by permission. This series may not be reproduced without written permission from the source.) (38,76) Il-A National Income and Product 30. Gross private domestic investment, change in business inventories, alt 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. Penonal income in current dollars (M).-Source 1 (40,63) 224. Distwsable 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) (46,82) 293. Personal saving rate—personal saving as a percent of disposable personal income (Q).-Source 1 (46,83) 298. Government surplus or deficit, total (Q).—Source 1 (46,83) Il-B. Prices, Wages, and Productivity 310. Implicit price deflator, gross national product ( Q ) . ~ Source 1 (48,84) 311. Fixed-weighted price index, gross business product (Q).-Source 1 (48,84) 320. Index of consumer prices, all items (M).—Source 3 (49,59,84,95) 253. Imports of goods and services In current dollars; national income and product accounts (Q).—Source 1 (44,82) 322. Index of consumer prices, food (M).-Source 3(49,84) 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) 331. Index of producer prices, crude materials for further processing (M).-Source 3 (48,85) 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) 330. Indw of producer prices, all commodities (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 worker*, private nonfarm economy—adjusted for overtime (In manufacturing only), interindustry employment shifts, and seasonally (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) 345. Index of average hourly compensation, all employm, nonfarm business sector (Q).-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 1 236. Personal consumption expenditures, nondurable goods, in current dollars (Q).-Source 1 (41,81) 237. Personal consumption expenditures, services, in current dollars (Q).-Source 1 (41,81) 282. Proprietors1 income with inventory valuation and capital consumption adjustments (Q).-Source 1 (45,82) 348. Negotiated wage and benefit decisions, all industriesfirst year average (mean) changes (Q).-Source 3 (50,88) 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. Fersonat consumption expenditures, nondurable goods, in 1IJ72 dollars (Q).-$ource 1 (41 t 8i) 284. Rental income of persons with capital consumption adjustment (Q).-Source 1 (45,82) 358. Index of output per hour, all persons, nonfarm business sector (Q),-Source 3 (49,88) 239. Personal consumption expenditures, services, in 1972 dollars (Q).-Source 1 (41,81) 285. Rental income of persons with capital consumption adjustment as a percent of national income (Q).— Source 1 (47,83) 370. Index of output per hour, all persons, private business sector (Q).-Source 3 (49,88) 230. Personal consumption expenditures, total, in current ilolhrs (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 currant dollars (Q).-Source 1 (41,80) 233. Personal consumption expenditures, durable goods, in W:> dollars (Q).-Source 1 (41,80) 235. Personal consumption expenditures, total, as a percent (if gross national product (Q).-Source 1 (47,83) 240. Gross private domestic investment, total, in current dotliirs (Q).-Source 1 (42,81) 241. Gros* 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. Gros: private domestic fixed investment, total, in 1972 dollars (Q).-$ource 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) 341. Index of real average hourly earnings of production workers, private nonfarm economy—adjusted for overtime (in manufacturing only), interindustry employment shifts, and seasonally (M).—Source 3 (49,87) Il-C. Labor Force, Employment, and Unemployment (45,82) 37. Number of persons unemployed, labor force survey (M).-Sources 2 and 3 (18,51,62,89) 441. Total civilian labor force, labor force 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, mates 20 years and over, tabor force survey (M),—Sources 2 and 3 (51,89) 287. Corporate profits with inventory valuation and capital consumption adjustments as a percent of national income (Q).-Source 1 (47,83) 288. Net interest (Q)-Source 1 GOVERNMENT PRINTING OFFICE: 1983-420-993:207 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 (48,59,84,95) (M).-Source 3 447. Number unemployed, full-time workers, labor force survey (M).-Sources 2 and 3 (51,89) 448. Number employed, part-time workers for economic reasons, labor force survey (M).-Sources 2 and 3 (51,89) 451. Civilian labor force participation rate, males 20 years and over (M).—Sources 2 and 3 (51,89) 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, Comptroller, Directorate for Program and Financial Control; seasonal adjustment by Bureau of Economic Analysis (54,91) Il-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).-Sources 2 and 3 (51,89) Il-E. U.S. International Transactions 501. Federal Government receipts; national income and product accounts (Q).-Source 1 (52,90) 602. Exports, excluding military aid shipments, total (M).— Source 2 (56,92) 502. Federal Government expenditures; national income and product accounts (Q).-Source 1 (52,90) 604. Exports of domestic agricultural products (M).—Source 2; seasonal adjustment by Bureau 'of Economic Analysis (56,92) 511. State and local government receipts; national income and product accounts (Q).-Source 1 (52,90) 512. State and local government expenditures; national income and product accounts (Q).—Source 1 (52,90) 517. Defense Department gross obligations incurred ( M ) . U.S. Department of Defense, OSD, Comptroller, Directorate for Program and Financial Control; seasonal adjustment by Bureau of Economic Analysis (53,90) 525. Defense Department military prime contract awards for work performed in the United States (M).-U.S. Department of Oefense, OSD, Comptroller, Washington Headquarters Services; seasonal adjustment by Bureau of Economic Analysis (53,90) 543. Defense Department gross unpaid obligations outstanding (EOM).-U.S. Department of Defense, OSD, Comptroller, Directorate for Program and Financial Control; seasonal adjustment by Bureau of Economic Analysis (53,90) 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 (58,94) Canada (Ottawa) 725, West Germany, index of industrial production ( M ) . (58,94) Statistisches Bundesamt (Wiesbaden) 726 France, index of industrial production (M).—Institut National de la Statistique et des Etudes Economiques (Paris) (58,94) 727 Italy, index of industrial production (M).—Istituto Centrale di Statistica (Rome) (58,94) 500. Federal Government surplus or deficit; national income and product accounts (Q).-Source 1 (52,90) 510. State and local government surplus or deficit; national income and product accounts (Q).—Source 1 (52,90) 72 728 Japan, index of industrial production (M).—Ministry of International Trade and Industry (Tokyo) (58,94) 732, United Kingdom, index of consumer prices ( M ) . Department of Employment (London); percent changes seasonally adjusted by Bureau of Economic Analysis (59,95) 606. Exports of nonelectrical machinery (M).—Source 2; seasonal adjustment ; b y Bureau of Economic Analysis (56,92) 733. Canada, index of consumer prices (M).—Statistics Canada (Ottawa); percent changes seasonally adjusted by Bureau of Economic Analysis (59,96) 612. General imports, total (M).-Source 2 735, West Germany, index of consumer prices (M).— Statistisches Bundesamt (Wiesbaden); percent changes seasonally adjusted by Bureau of Economic Analysis (56,92) 614. Imports of petroleum and petroleum products (M).— Source 2; seasonal adjustment by Bureau of Economic Analysis (56,92) 616. Imports of automobiles and parts (M).—Source 2; seasonal adjustment by Bureau of Economic Analysis (56,92) 618. Merchandise exports, adjusted, excluding military grants (Q).-Source 1 (57,93) 620. Merchandise imports, adjusted, excluding military (Q).-Source 1 (57,93) 622. Balance on merchandise trade (Q).-Source 1 (57,93) 651. Income on U.S. investments abroad (Q).—Source 1 (57,93) (59,95) 736 France, index of consumer prices (M).-Institut National de la Statistique et des Etudes Economiques (Paris); percent changes seasonally adjusted by Bureau of Economic Analysis (59,95) 737 Italy, index of consumer prices (M).—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) 667. Balance on goods and services (Q).—Source 1(57,93) 742 United Kingdom, index of stock prices (M).—Central Statistical Office (London) (59,96) 743 Canada, index of stock prices (M). Statistics Canada (59,96) (Ottawa) (54,91) 668. Exports of goods and services, excluding transfers under U.S. military grants (Q).-Source 1 (57,93) 745 West Germany, index of stock prices (M).—Statistisches (59,96) Bundesamt (Wiesbaden) 559. Value of manufacturers' inventories, defense products (EOM).-Source 2 (54,91) 669. Imports of goods and services, total (Q).—Source 1 (57,93) 746 France, index of stock prices (M).—Institut National de la Statistique et des Etudes Economiques (Paris) 561. Value of manufacturers' unfilled orders, defense products (EOM).-Source 2 (54,91) Il-F. International Comparisons 747 Italy, index of stock prices (M).—Banca d' Italia (Rome) (59,96) 548. Value of manufacturers' new orders, defense products ( M ) . - Source 2 (53,90) 557. Output of defense and space equipment (M).— Source 4 564. Federal Government purchases of goods and services for national defense (Q).-Source 1 (55,91) 652. Income on foreign investments in the United States (Q).-Source 1 . (57,93) 19. United States, index of stock prices, 500 common stocks (M).—Standard & Poor's Corporation (13,28,59,69,96) (59,96) 748 japan, index of stock prices (M).—Bank of Japan (Tokyo) (59,96) Superintendent of Documents U.S. Government Printing Office Washington, D.C. 20402 OFFICIAL BUSINESS Penalty for Private Use $300 FIRST-CLASS MAIL POSTAGE & FEES PAID USDC WASHINGTON , D.C. PERMIT No. G-56