Full text of Business Conditions Digest : October 1984
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U.S. DEPARTMENT OF COMMERCE
Malcolm Baldrige, Secretary
Sidney L. Jones, Under Secretary for Economic Affairs
BUREAU OF ECONOMIC ANALYSIS
George Jaszi, Director
Allan H. Young, Deputy Director
Edward K. Smith, Associate Director for
National Analysis and Projections
FeliksTamm, Editor
This report is prepared in the Statistical Indicators Division of the Bureau of Economic
Analysis. Technical staff and their responsibilities for the publication areBarry A. Beckman—Technical supervision and review
Brian D. Kajutti—Composite indexes
Betty F. TunHtall—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
Ahmad Al-Samarrie, Office of Management and Budget
Lincoln F. Anderson, Council of Economic Advisers
John H. Auten, U.S. Department of the Treasury
Edward K. Smith, Bureau of Economic Analysis, U.S. Department of Commerce
Charles A. Waite, Bureau of the Census, U.S. Department of Commerce
Helmut F. Wendel, Board of Governors of the Federal Reserve System
ABOUT THIS REPORT
BUSINESS CONDITIONS DIGEST (BCD) provides
a monthly look at many of the economic time
series found most useful by business analysts
and forecasters.
The original BCD, which began publication
in 1961 under the title Business Cycle Developments, emphasized the cyclical indicators approach to the analysis of business conditions
and prospects. The report's contents were based
largely on the list of leading, roughly coincident,
and lagging indicators maintained by the
National Bureau of Economic Research, Inc.
In 1968, BCD was expanded to increase its
usefulness to analysts using other approaches to
business conditions analysis. Principal additions
to the report were series from the national income and product accounts and series based on
surveys of businessmen's and consumers' anticipations and intentions. The composite indexes were added at that time, and the report's
present title was adopted.
The dominant feature of the current BCD is
the cyclical indicators section, in which each
business cycle indicator is assigned a three-way
timing classification according to its behavior at
peaks, at troughs, and at all turns. This section is
supplemented by a section containing other important economic measures. The method of
presentation is explained in the introductory text
which begins on page 1.
Annual subscription price: $44.00 domestic,
$55.00 foreign. Single copy price: $4.00 domestic, $5.00 foreign. Foreign airmail rates are
available on request. Address correspondence
Most of the data contained an 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 1984
Data Through September
Volume 24, 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
—
—
—
16
19
21
23
26
28
31
61
63
64
65
68
69
71
36
—
39
74
77
—
CYCLICAL INDICATORS
BY ECONOMIC PROCESS
Bl
B2
B3
B4
B5
B6
B7
Employment and Unemployment
Production and Income
Consumption, Trade, Orders, and Deliveries
Fixed Capital Investment
Inventories and Inventory Investment
Prices, Costs, and Profits
Money and Credit
DIFFUSION INDEXES
AND RATES OFCHANGE
"Cl~1
_
Diffusion Indexes
Selected Diffusion Index Components
Rates of Change
The Secretary of Commerce has determined
that the publication of this periodical is necessary in the transaction of the public business
required by law of this Department. Use of funds
for printing this periodical has been approved
by the Director of the Office of Management
and Budget through April 1, 1985.
BCII
PART II.
OTHER IMPORTANT
ECONOMIC MEASURES
NATIONAL INCOME
jjU__
A2
,A6_
AND PRODUCT
GNP and Personal Income
Personal Consumption Expenditures
Gross Private Domestic Investment
Government Purchases of Goods and Services
Foreign Trade
National Income and Its Components
Saving
Shares of GNP and National Income
_
PRICES, WAGES,
AND PRODUCTIVITY
Bll
B2
Price Movements
Wages and Productivity
J
CT]
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
LABOR FORCE, EMPLOYMENT,
AND UNEMPLOYMENT
Civilian Labor Force and Major Components
GOVERNMENT ACTIVITIES
JJM
D2|
Receipts and Expenditures
Defense Indicators
U.S. INTERNATIONAL TRANSACTIONS
Ell
~E2~I
Merchandise Trade
Goods and Services Movements
INTERNATIONAL COMPARISONS
Fl 1
F2j
F3|
Industrial Production
Consumer Prices
Stock Prices
PART III. APPENDIXES
A. MCD and Related Measures of Variability (See J984 Handbook of Cyclical Indicators)
QCD and Related Measures of Variability (See 1984 Handbook of Cyclical Indicators)
B. Current Adjustment Factors (July 1984 issue)
C. Historical Data for Selected Series
97
D. Descriptions and Sources Of Series (See "Alphabetical Index—Series Finding Guide")
E. Business Cycle Expansions and Contractions (July 1984 issue)
F. Specific Peak and Trough Dates for Selected Indicators (August 1984 issue)
G. Experimental Data and Analyses
Alphabetical Index—Series Finding Guide
Titles and Sources of Series
105
110
114
Readers are invited to submit comments and
suggestions concerning this publication.
Address them to Feliks Tamm, Chief, Statistical
Indicators Division, Bureau of Economic Analysis,
U.S. Department of Commerce, Washington, DC 20230
NEW FEATURES
AND CHANGES
FOR THIS ISSUE
A limited number of
changes are made from
time to time to incorporate recent findings of economic
research, newly available time series, and
revisions made by
source agencies in
concept, composition,
comparability, coverage,
seasonal adjustment
methods, benchmark
data, etc. Changes may
result in revisions of
data, additions or
deletions of series,
changes in placement of
series in relation to
other series, changes
in composition of
indexes, etc.
Changes in this issue are as follows:
1. Appendix C contains historical data for series 50,
200, 213, 217, 220, 224, 225, 227, 230-233, 235-243, 245, 247253, 255-257, 260-263, 265-268, 280, and 282-284.
2. Appendix 6 contains cyclical comparisons for series
1, 12, 19, 30, 41, and 50.
The November issue of BUSINESS CONDITIONS DIGEST is scheduled
for release on December 4.
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 containing valuable background information for users of Business Conditions Digest.
This recurrent report provides descriptive and analytical information on the economic time series
presented monthly in Business Conditions Digest. Included are series descriptions, historical
data, and measures of variability. For the cyclical indicators and composite indexes, special tables
show detailed scoring measures and average timing at cyclical peaks and troughs. Verbal and
algebraic explanations of the composite index methodology are also provided.
LONG TERM ECONOMIC GROWTH A report for the study of economic
trends over a long span of years: 1860-1970.
This report provides a comprehensive, long-range view of the U.S. economy by presenting relevant
statistical time series in easy-to-follow analytical charts and convenient data tables. It is a basic
research document for economists, historians, investors, teachers, and students, bringing together in
one volume a complete statistical basis for the study of long-term economic trends. A computer tape
file of the time series included in the report is available for purchase.
COMPUTER PROGRAMS FOR TIME SERIES ANALYSIS The source
statements for FORTRAN IV programs used by BEA in its analysis of
time series are available on a single computer tape.
SEASONAL ADJUSTMENT PROGRAMS—Two variants of the Census computer program
measure and analyze seasonal, trading-day, cyclical, and irregular fluctuations. They are particularly
useful in analyzing economic fluctuations that take place within a year. The X-ll variant is used for
adjusting monthly data and the X-11Q for quarterly data. These programs make additive as well as
multiplicative adjustments and compute many summary and analytical measures.
INDEX PROGRAM—This program computes composite and diffusion indexes and summary
measures of the properties of each index.
TIME SERIES PROCESSOR—This program, through simple commands, performs a variety of
arithmetic, statistical, and manipulative operations on time series data.
SURVEY OF CURRENT BUSINESS
current economic developments.
A monthly report for analyzing
Features include a review of current economic developments; articles pertaining to BEA's work
on the national,, regional, and international economic accounts and related topics; quarterly
national income and product accounts tables; and over 1,900 major economic series obtained
from other public and private sources.
For further information (including prices and
ordering instructions) on any of these items,
please write to the Bureau of Economic Analysis,
U.S. Department of Commerce, Washington,
DC 20230.
BUSINESS STATISTICS A reference volume containing statistical
series reported currently in the Survey of Current Business.
This report provides historical data on statistical time series. The series are accompanied by
concise descriptions of their composition, methods of compilation, comparability, revisions, and
availability. Also listed are the names and addresses of organizations that provide the data for
the series.
IV
METHOD OF PRESENTATION
This report is organized into two major parts.
Part I, Cyclical Indicators, includes about 150 time
series which have been found to conform well to
broad fluctuations in comprehensive measures of
economic activity. Nearly three-fourths of these are
individual indicators, the rest are related analytical
measures: Composite indexes, diffusion indexes,
and rates of change. Part II, Other Important
Economic Measures, covers over 140 series which
are valuable to business analysts and forecasters
but which do not conform well enough to business
cycles to qualify as cyclical indicators. (There are a
few exceptions; Four series which are included in
part I are also shown in part II to complete the
systematic presentation of certain sets of data,
such as real GNP and unemployment.) The largest
section of part II consists of quarterly series from
the national income and product accounts; other
sections relate to prices, labor force, government
and defense-related activities, and international
transactions and comparisons.
The two parts are further divided into sections
(see table of contents), and each of these sections
is described briefly in this introduction. Data are
shown both in charts and in tables. Most charts
begin with 1959, but those for the composite
indexes and their components (part I, section A)
begin with 1948, and a few charts use a two-panel
format which covers only the period since 1972.
Except for section F in part II, charts contain
shading which indicates periods of recession in
general business activity. The tables contain data
for only the last few years. The historical data for
the various time series are contained in the 1984
Handbook of Cyclical Indicators.
In addition to the charts and tables described
above, each issue contains a summary table which
shows the current behavior of many of the series.
Appendixes present seasonal adjustment factors,
measures of variability, specific cycle turning
dates, cyclical comparison charts, and other
information of analytical interest. An index appears
at the back of each issue. It should be noted that
the series numbers used are for identification
purposes only and do not reflect precise
relationships or order. However, all series
considered as cyclical indicators are numbered in
the range 1 to 199.
Seasonal Adjustments
Adjustments for average seasonal fluctuations
are often necessary to bring out the underlying
trends of time series. Such adjustments allow for
the effects of repetitive intrayear variations
resulting primarily from normal differences in
weather conditions and from various institutional
arrangements. Variations attributable to holidays
are usually accounted for by the seasonal
adjustment process; however, a separate holiday
adjustment is occasionally required for holidays
with variable dates, such as Easter. An additional
adjustment is sometimes necessary for series
which contain considerable variation due to the
number of working or trading days in each month.
As used in this report, the term "seasonal
adjustment" includes trading-day and holiday
adjustments where they have been made.
Most of the series in this report are presented in
seasonally adjusted form and, in most cases, these
are the official figures released by the source
agencies. However, for the special purposes of this
report, a number of series not ordinarily published
in seasonally adjusted form are shown here on a
seasonally adjusted basis.
MCD Moving Averages
Month-to-month changes in a series are often
dominated by erratic movements. MCD (months for
cyclical dominance) is an estimate of the appropriate span over which to observe cyclical
movements in a monthly series. (See appendix A.)
It is the smallest span of months for which the
average change in the cyclical factor is greater than
that in the irregular factor. The more erratic a
series is, the larger the MCD will be; thus, MCD is 1
for the smoothest series and 6 for the most erratic.
MCD moving averages (that is, moving averages of
the period equal to MCD) tend to have about the
same degree of smoothness for all series. Thus, a
5-term moving average of a series with an MCD of 5
will show its cyclical movements about as clearly
as the seasonally adjusted data for a series with an
MCD of 1.
The charts in this report generally include
centered MCD moving averages for those series
with an MCD greater than 4. The seasonally
adjusted data are also plotted to indicate their
variation about the moving averages and to provide
observations for the most recent months.
Part I. CYCLICAL INDICATORS
Business cycles have been defined as sequences
of expansion and contraction in various economic
processes that show up as major fluctuations in aggregate economic activity—that is, in comprehensive measures of production, employment,
income, and trade. While recurrent and pervasive,
business cycles of historical experience have been
definitely nonperiodic and have varied greatly in
duration and intensity, reflecting changes in
economic systems, conditions, policies, and
outside disturbances.
One of the techniques developed in business
cycle research and widely used as a tool for analyzing current economic conditions and prospects is
the cyclical indicators approach. This approach
identifies certain economic time series as tending
to lead, coincide with or lag behind the broad
movements in aggregate economic activity. Such
indicators have been selected and analyzed by
NBER in a series of studies published between
1938 and 1967. During the 1972-75 period, a new
comprehensive review of cyclical indicators was
carried out by the Bureau of Economic Analysis
(BEA) with the cooperation of the NBER research
staff. The present format and content of part I of
BCD are based on the results of that study.
Section A. Composite Indexes and
Their Components
All cyclical indicators have been evaluated according to six major characteristics: Economic
significance, statistical adequacy, consistency of
timing at business cycle peaks and troughs,
c o n f o r m i t y to b u s i n e s s e x p a n s i o n s and
contractions, smoothness, and prompt availability
(currency). A formal, detailed weighting scheme
was developed and used to assess each series by all
of the above criteria. (See articles in the May and
November 1975 issues of BCD.) The resulting
Reference Turning Dates
scores relate to cyclical behavior of the series
The historical business cycle turning dates used during the period 1947-70. This analysis produced
in this report are those designated by the National a new list of indicators classified by economic
Bureau of Economic Research, Inc. (NBER). They process and typical timing at business cycle peaks
mark the approximate dates when, according to and troughs. (See tables on page 2 and text below
NBER, aggregate economic activity reached its relating to section B.)
This information, particularly the scores relating
cyclical high or low levels. As a matter of general
practice, neither new reference turning dates nor to consistency of timing, served as a basis for the
the shading for recessions will be entered on the selection of series to be included in the composite
charts until after both the new reference peak and indexes. The indexes incorporate the best-scoring
the new reference trough bounding the shaded area series from many different economic-process
groups and combine those with similar timing
have been designated.
The historical reference turning dates are subject behavior, using their overall performance scores as
to occasional reviews by NBER and may be changed weights. Because they use series of historically
as a result of revisions in important economic tested usefulness and given timing characteristics
time series. The dates shown in this publication (for example, leading at both peaks and troughs),
for the 1948-70 time period are those determined with diversified economic coverage and a minimum
by a 1974 review. Since then, NBER has designated of duplication, composite indexes give more
turning points for recessions in 1973-75, 1980, and reliable signals over time than do any of the
1981-82.
individual indicators. Furthermore, much of the
1
Cross-Classification of Cyclical Indicators by Economic Process and Cyclical Timing
A. Timing at Business Cycle Peaks
1.
EMPLOYMENT
AND
UNEMPLOYMENT
II.
PRODUCTION
AND
INCOME
(10 series)
(18 series)
LEADING (L)
INDICATORS
(62 series)
ROUGHLY
GOING! DENTfC)
INDICATORS
TIMING
UNCLASSIFIED
(U)
CAPITAL
INVESTMENT
(18 series)
(13 series)
Marginal
employment
adjustments
(6 series)
Job vacancies
(2 series)
Comprehensive
employment
(1 series)
Comprehensive
unemployment
(3 series)
Capacity
utilization
(2 series)
New and
unfitted orders
and deliveries
(6 series)
Consumption
(2 series)
Formation of
business
enterprises
(2 series)
Business
investment
commitments
(5 series)
Residential
construction
(3 series)
Comprehensive
employment
(1 series)
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)
(23 series)
LAGGING (L0)
INDICATORS
(18 series)
IV.
ill.
CONSUMPTION. FIXED
TRADE,
ORDERS, AND
DELIVERIES
Duration of
unemployment
(2 series)
Business
Investment
expenditures
(1 series)
Comprehensive
employment
(3 series)
Trade
(1 series)
Business
Investment
commitments
(1 series)
(8 series)
V.
INVENTORIES
AND
INVENTORY
INVESTMENT
VI.
PRICES, COSTS,
VII,
MONEY
AND PROFITS
AND CREDIT
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)
(17 series)
(26 series)
(9 series)
Inventory
Investment
(4 series)
inventories on
hand and on
order
(1 series)
Velocity of
money
(2 serfes)
Interest ratas
(2 series)
Inventories on
hand and on
order
{4 series)
Unit tabor costs
and tabor share
(4 series)
Interest 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
N. Economic
\Process
CycllcalV
Timing
>^
LEADING (L)
INDICATORS
(47 series)
ROUGHLY
COINCIDENT(C)
INDICATORS
(23 series)
LAGGING (L9)
INDICATORS
(40 series)
1.
EMPLOYMENT
AND
UNEMPLOYMENT
(18 series)
PRODUCTION
AND
INCOME
(10 series)
H.
III
CONSUMPTION,
TRADE,
ORDERS, AND
DELIVERIES
(13 series)
IV.
FIXED
CAPITAL
INVESTMENT
(18 series)
V.
INVENTORIES
AND
INVENTORY
INVESTMENT
(9 sertes)
VI.
PRICES, COSTS,
AND PROFITS
(17 series)
MONEY
AND CREDIT
(26 series)
Marginal
employment
adjustments
(3 series)
Industrial
production
(1 series)
New and unfilled
orders and
deliveries
(5 series)
Consumption
and trade
(4 series)
Formation of
business
enterprises
(2 series)
Business
Investment
commitments
{4 series)
Residential
construction
(3 series)
Inventory
Investment
(4 series)
Stock prices
(1 series)
Commodity
prices
(2 series)
Profits and
profit margins
(6 series)
Cash flows
(2 series)
Money flows
(2 series)
Real money
supply
(2 series)
Credit flows
(4 series)
Credit
difficulties
(2 series)
Marginal
employment
adjustments
(2 series)
Comprehensive
empioyment
(4 series)
Comprehensive
Consumption
and trade
Business
Investment
commitments
(1 series)
Profits
(2 sertes)
Money flow
(1 series)
Velocity of
money
(1 series)
Unfilled orders
(1 series)
Business
Investment
commitments
(2 series)
Business
Investment
expenditures
(6 series)
Unit labor costs
and labor share
(4 series)
Velocity of
money
(1 series)
Bank reserves
(1 series)
Interest ratas
(8 series)
Outstanding debt
(3 sertes)
Marginal
employment
adjustments
(1 sories)
Job vacancies
(2 series)
Comprehensive
employment
(1 sories)
Comprehensive
and duration
of
unemployment
(i> sories)
TIMING
UNCLASSIFIED
(U)
(1 series)
output and
real income
(4 series)
Industrial
production
(3 series)
Capacity
utilization
(2 series)
(3 series)
Inventories on
hand and on
order
(5 series)
VII.
Bank reserves
(1 series)
independent measurement error and other "noise"
in the included series are smoothed out in the
index as a whole. The indexes include only monthly
series that are acceptable in terms of relatively
prompt availability and reasonable accuracy.
The main composite indexes are distinguished by
their cyclical timing. Thus, there is an index of
leading indicators, series which historically reached
their cyclical peaks and troughs earlier than the
corresponding business cycle turns. There is an
index of roughly coincident indicators, consisting
of series which historically reached their turning
points at about the same time as the general
economy, and an index of lagging indicators, which
includes series that typically reached their peaks
and troughs later than the corresponding business
cycle turns.
The leading index contains series with long as
well as short leads, but each series leads on the
average over time and shows a frequency of leads
at the individual turns exceeding that attributable
to chance, given the historical distribution of
cyclical timing. (An analogous statement applies to
the components of the lagging index.) Since 1948,
leads were generally more frequent and longer at
peaks than at troughs of business cycles, while lags
were generally more frequent and longer at troughs
than at peaks. The adopted system of scoring and
classifying the indicators takes into account these
w e l l - e s t a b l i s h e d d i f f e r e n c e s in timing.
Consequently, rough coincidences include short
leads (-) and lags ( + ) as well as exact
coincidences (0). (For monthly series, the range is
from -3 through +1 at peaks and from -1 through
+3 at troughs, where minus denotes leads and
plus denotes lags in months.)
For purposes of constructing a composite index,
each component series is standardized: The monthto-month percent changes in a given series are
divided by the long-run average (without regard to
sign) of those changes. Thus, the more volatile
series are prevented from dominating the index.
The coincident index is calculated so that its longterm trend (since 1948) equals the average of the
trends of its four components. This trend, which is
similar to that of GNP in constant dollars, can be
viewed as a linear approximation to the secular
movement (at an average growth rate) in aggregate
economic activity. The indexes of leading and lagging indicators have been adjusted so that both
their trends and their average month-to-month
percent changes (without regard to sign) are approximately equal to those of the coincident index.
(For a more detailed description of the method of
constructing the composite indexes, see the 1984
Handbook of Cyclical Indicators.)
In addition to these principal composite indexes,
differentiated according to cyclical timing, there
are five indexes based on leading indicators which
have been grouped by economic process. Taken
together, these additional indexes include all 12
component series of the overall leading index, plus
a few related series. Also shown in this section is
the ratio of the index of roughly coincident
indicators to the index of lagging indicators, a
series known to have a useful pattern of early
cyclical timing. Numbers entered on the charts of
the composite indexes show the length, in months,
of leads (-) and lags (+) at each of the reference
turning dates covered.
The next set of data consists of series included
in the principal composite indexes. These are the
12 components of the leading index, the 4
components of the coincident index, and the 6
components of the lagging index. Following the title
of each series, its typical timing is identified by
three letter symbols in a small box. The first of
these letters refers to the timing of the given
indicator at business cycle peaks, the second to its
timing at business cycle troughs, and the third to
its timing at all turns, i.e., at peaks and troughs
combined. "L" denotes a tendency to lead, "C" a
tendency to roughly coincide with the business
cycle turns (as represented by the 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 UL,L,L," all components of the coincident
index "C,C,C," and all components of the lagging
index "Lg,l_grLg." It should be remembered that
these classifications are based on limited evidence,
namely the performance of the indicators during
the business cycles of the 1948-70 period, which
included five peaks and five troughs. While the
timing classifications are expected to agree with
the patterns prevailing in the near future, they will
not necessarily hold invariably in every instance.
The timing of the series in the period since 1970
can be determined by inspection of the charts,
where the recessions of 1973-75, 1980, and
1981-82 are shaded according to the dates of
the NBER reference cycle chronology.
Section B, Cyclical Indicators by Economic Process
This section covers 111 individual time series,
including the 22 indicators used in the
construction of the composite indexes. The peak
and trough timing classifications are shown on the
charts in the same manner as described above, but
this section includes series with different timing at
peaks and at troughs, as well as series where the
timing is not sufficiently consistent to be classified
as either L,C, or Lg according to the probabilistic
measures and scoring criteria adopted. Such series
are labeled U, i.e., unclassified as to timing at
turning points of the given type. Eight series are
unclassified at peaks, one series at troughs, and 19
series at all turns (of the 19, 15 have definite but
different timing at peaks and at troughs). No series
that is classified as U both at peaks and at troughs
is included in the list of cyclical indicators.
The classification scheme which groups the
indicators of this section by economic process and
cyclical timing is summarized in the two
tabulations on page 2. Cross-classification A is
based on the observed behavior of the series at five
business cycle peaks (November '48, July '53,
August '57, April '60, and December '69); crossclassification B, on their behavior at five business
cycle troughs (October '49, May '54, April '58,
February '61, and November 70). Each tabulation
distinguishes seven major economic processes and
four types of cyclical timing. The titles in the cells
identify subgroups of the given economic process
with the given timing characteristic. The number of
series in each such group is given in parentheses
following the title. Complete information on how
individual indicators are classified by timing at
peaks, troughs, and all turns, along with selected
measures and scores, is provided in the 1984
Handbook of Cyclical Indicators.
Section C. Diffusion Indexes and Rates of Change
IVlany series in this report are aggregates
compiled from numerous components. How the
individual components of an aggregate move over a
given timespan is summarized by a diffusion index
which indicates the percentage of components that
are rising (with half of the unchanged components
considered rising). Cyclical changes in these
diffusion indexes tend to lead those of the
corresponding aggregates. Since diffusion indexes
are highly erratic, they are computed from changes
measured over 6- or 9-month (or 3- or 4-quarter)
spans, as well as 1-month (or 1-quarter) spans.
Longer spans help to highlight the trends underlying the shorter-term fluctuations. Diffusion indexes
are shown for the component series included in
each of the three composite indexes and for the
components of some of the aggregate series shown
in section B.
Diffusion measures can be derived not only from
actual data but also from surveys of anticipations
or intentions. Indexes based on responses of
business executives about their plans and
expectations for several operating variables are
presented, along with the corresponding indexes
based on actual data, as the last set of diffusion
series.
This section also records rates of change for the
three composite indexes (leading, coincident, and
lagging) and for four indicators of aggregate
economic activity: GNP in constant dollars
(quarterly), industrial production, employee hours
in nonagricultural establishments, and personal
income less transfers in constant dollars. Rates of
change are shown for 1- and 3-month spans or for
1-quarter spans.
Although movements in diffusion indexes and in
rates of change for the same aggregates are
generally positively correlated, these two measures
present information about two related but distinct
aspects of economic change. Diffusion indexes
measure the prevailing direction or scope of
change, while rates of change measure the degree
as well as the overall direction. As is the case for
diffusion indexes, cyclical movements in the rates
of change tend to lead those of the corresponding
indexes or aggregates, and thus, they tend to lead
at the business cycle turns as well.
Part II. OTHER IMPORTANT ECONOMIC
MEASURES
This part is divided into six sections which cover
a wide range of quarterly and monthly time series
measuring various aspects of economic activity.
Some of these series are very comprehensive,
pertaining to the U.S. economy as a whole, others
have to do with particular sectors or markets, and
still others relate to U.S. international transactions
or to selected foreign countries. The represented
variables include incomes, outputs, and
expenditures; prices, earnings, and productivity;
labor r e s o u r c e s ; government receipts,
expenditures, arid defense-related activities; exports and imports; and selected indicators for a few
key foreign countries.
Section A. National Income and Product
The national income and product accounts,
compiled by BEA, summarize both receipts and
final expenditures for the personal, business,
foreign, and government sectors of the economy.
Section Al shows the gross national product,
final sales, and personal and disposable personal
income. The four major components of the gross
national p r o d u c t — p e r s o n a l c o n s u m p t i o n
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 presentee! in current as well as
constant dollars. There are also a few per capita
series. The national income and product accounts,
briefly defined below, are described more fully in
the Survey of Current Business, Part I,
January 1976.
Gross national product (GNP) is the market
value of final goods and services produced by the
labor and property supplied by residents of the
United "States, before deduction of allowances for
the consumption of fixed capital goods. It is the
most comprehensive measure of aggregate
economic output. Final sales is GNP less change in
business inventories.
Personal income is the income received by
persons (individuals, owners of unincorporated
businesses, nonprofit institutions, private trust
funds, and private noninsured welfare funds) from
all sources. It is the sum of wage and salary
disbursements, other labor income, proprietors'
income, rental income of persons, dividends,
personal interest income, and transfer payments,
less personal contributions for social insurance.
Disposable personal income is the personal
income available for spending or saving. It consists
of personal income less personal taxes and nontax
payments to government.
Personal consumption expenditures (A2) is
goods and services purchased by individuals,
operating expenses of nonprofit institutions, and
the value of food, fuel, clothing, rent of dwellings,
and financial sen/ices received in kind by individuals. Net purchases of used goods are also included.
Gross private domestic investment (A3) is fixed
capital goods purchased by private business and
nonprofit institutions and the value of the change
in the physical volume of inventories held by
private business. The former include all private
purchases of dwellings, whether purchased for
tenant or owner occupancy. Net purchases of used
goods are also included.
Government purchases of goods and services
(A4) is the compensation of government employees
and purchases from business and from abroad. It
excludes transfer payments, interest paid by
government, and subsidies. It includes gross
investment by government enterprises but excludes
their current outlays. It includes net purchases of
used goods and excludes sales and purchases of
land and financial assets.
Net exports of goods and services (A5) is exports
less imports of goods and services. Exports are part
of the national production; imports are not, but are
included in the components of GNP and are
therefore deducted. More detail on U.S.
international transactions is provided in section E.
National income (A6) is the incomes that
originate in the production of goods and services
attributable to labor and property supplied by
residents of the United States. Thus, it measures
the factor costs of the goods and services produced. It consists of the compensation of
employees, proprietors' income, rental income of
persons, corporate profits, and net interest.
Saving (A7) is the difference between income
and expenditures during an accounting period.
Total gross saving includes personal saving,
business saving (mainly undistributed corporate
profits and capital consumption allowances), and
government surplus or deficit.
Shares of GNP and national income (A8).-The
m a j o r e x p e n d i t u r e c o m p o n e n t s of GNP
(consumption, investment, etc.) are expressed as
percentages of GNP, and the major income
components of national income (compensation of
employees, corporate profits, etc.) are expressed as
percentages of national income.
Section 6. Prices, Wages, and Productivity
The important data on price movements include
the monthly consumer and producer price indexes
and their major components. Based largely on
these series are the quarterly price indexes from
the national income and product accounts, notably
the GNP implicit price deflator (with weights
reflecting the changing proportions of different
expenditure categories in GNP) and the fixedweighted price index for the gross business product. Data on both levels and percent changes are
presented for the period since 1972.
The group of series on wages and productivity
consists of data on average hourly earnings and
average hourly compensation (including earnings
and other benefits) in current and constant dollars,
output per hour of work in the business sector, and
rates of change for most of these measures.
Section C. Labor Force, Employment, and
Unemployment
This section contains measures of the civilian
labor force and its major components: Total
numbers of employed and unemployed persons.
The number of unemployed is subdivided into
selected categories defined by sex, ager <md class
of worker. Also included are data on participation
rates for a few principal segments of the labor
force.
Section D. Government Activities
Receipts, expenditures, and their balance (surplus or deficit) are shown quarterly on two levels;
(1) Federal Government and (2) State and local
government. Also shown is a selection of series
from the discontinued Defense Indicators,
These series measure defense activities which
influence short-term changes in the national
economy. Included are series relating to
obligations, contracts, orders, production,
shipments, inventories, outlays, and employment.
These series are grouped according to the time at
which the activities they measure occur in the
defense order-production-delivery process. Series
measuring activities which usually precede production, such as contract awards and new orders,
are classified as "advance measures of defense
activity." Series measuring activities which tend to
coincide with production, such as employment, and
activities which usually follow production, such as
shipments, are classified as "intermediate and final
measures of defense activity."
Section E, U.S. International Transactions
This group includes monthly series on exports
(excluding military aid) and general imports, plus a
few selected components of these aggregates. Also
shown are the balances between receipts and
expenditures for goods and services, merchandise,
and investment income.
Section F. International Comparisons
This section is designed to facilitate a quick
review of basic economic conditions in sin of the
nations with which we have important trade
relationships. The U.S. business cycle shading has
been omitted from these charts. Data on industrial
production, consumer prices, and stock prices for
Canada, the United Kingdom, France, West Germany, Japan, and Italy are compared with the corresponding U.S. series. Also included is an industrial production index for the European
countries in the Organization for Economic
Cooperation and Development (OECD). The industrial production series provide cyclically sensitive output measures for large parts of the
economies covered. Changes in consumer price indexes (plotted for the period since 1972) provide
important measures of the rates of inflation in the
major industrialized countries. Stock prices (also
shown beginning in 1972) tend to be significant as
leading indicators.
HOW TO READ CHARTS
Peak (P) of cycle indicates
end of expansion and beginning of recession (shaded
area) as designated by NBER.
Basic Data
Arabic number indicates latest
month for which data are
plotted. ("9" = September)
Solid line indicates monthly
data. (Data may be actual
monthly figures or moving
averages.)
Dotted line indicates anticipated data.
Broken line indicates actual
monthly data for series where
a moving average is plotted.
Roman number indicates
latest quarter for which data
are plotted. ("IV" = fourth
quarter)
Solid line with plotting points
indicates quarterly data.
Parallel lines indicates a break
in continuity (data not available, extreme value, etc.).
Diffusion Indexes
Solid line indicates monthly
data over 6- or 9-month
spans.
Broken line indicates monthly
data over 1-month spans.
Various scales are used to
highlight the patterns of the
individual series. "Scale A"
is an arithmetic scale, "scale
L-1" is a logarithmic scale
with 1 cycle in a given distance, "scale L-2" is a logarithmic scale with two cycles
in that distance, etc.
Arabic number indicates latest
month for which data are
used in computing the indexes.
Broken line with plotting
points indicates quarterly
data over 1-quarter spans.
Roman number indicates
latest quarter for which data
are used in computing the indexes.
Solid line with plotting points
indicates quarterly data over
various spans.
Diffusion indexes and rates
of change are centered within
the spans they cover.
Trough (T) of cycle indicates
end of recession and beginning of expansion as designated by NBER.
Rates of Change
Solid line indicates percent
changes over 3- or 6-month
spans.
Dotted line indicates anticipated quarterly data over
various spans.
Arabic number indicates latest
month used in computing
the changes.
Broken line indicates percent
changes over 1-month spans.
Broken line with plotting
points indicates percent
changes over 1-quarter spans.
Solid line with plotting points
indicates percent changes over
3- or 4-quarter spans.
Roman number indicates
latest quarter used in computing the changes.
HOW TO LOCATE A SERIES
1. See ALPHABETICAL INDEX-SERIES FINDING GUIDE at
the back of the report where series are arranged alphabetically
according to subject matter and key words and phrases of the
series titles, or-
2. See TITLES AND SOURCES OF SERIES at the back of
the report where series are listed numerically according to
series numbers within each of the report's sections.
Table 1.
Summary of Recent Data and Current Changes for Principal Indicators
Basic data2
Series title and timing classification
Unit
of
measure
1
Percent change
i*l
Annual average
198?
1983
i-i A
1984
My
2dQ
1984
3dQ
1984
July
1984
Aug.
1984
Sept.
1984
Aug.
Aug.
1984
Sept.
1984
IstQ
to
2dQ
1984
to
to
2dQ
to
3dQ
1984
t;
ij
"K
1. CYCLICAL INDICATORS
A, Composite Indexes
910.
920.
930.
940.
Twelve leading indicators
Four roughly coincident indicators
Six lagging indicators
Ratio, coincident index to lagging index
Leading Indicator Subgroups:
913. Marginal employment adjustments
914. Capital investment commitments
915. Inventory investment and purchasing
916. Profitability
,.,
917, Money and financial (lows
136.8
136 .3
123.0
110.9
156.0
139.9
111 . 7
125 .4
166.2
150.4
111.3
135.1
167.9
154.0
116.1
132.7
164.2
155.7
119.8
130.0
164.1
155.7
118.8
131 .1
164.0
155.7
120.0
129.8
164.6
155.8
120.7
129.1
-0.1
0.
1.0
-1.0
0.4
0.1
0.6
-0.5
1.0
2.4
4.3
-1.8
-2.2
1.1
3,2
-£.0
910
920
930
940
NA
104.3
97.2
93.7
122.8
NA
108.8
102.8
104.7
130.6
NA
111.1
106.9
109.0
135,2
NA
111 .0
107.3
110.4
138.1
NA
110.2
103.8
NA
137.2
NA
109.8
104.7
109.8
137 .6
NA
110.4
103.4
111 .8
136.4
NA
110.4
103.2
NA
137.5
NA
0.5
-1 .2
1.8
-0.9
NA
0.
-0.2
NA
0.8
NA
-0.1
0.4
1.3
2.1
NA
-0,7
-3.3
NA
-0.7
913
914
915
916
917
38.9
2,3
578
40.1
3.0
426
40.8
3.5
352
40.8
3.4
353
40.5
3.3
364
40.5
3 ,, 3
365
40.4
3.2
358
40.5
3.3
368
-0.2
-0.1
1.9
0.2
0.1
-2.8
0.
-0.1
-0.3
-0.7
-0.1
-3.1
1
21
5
L,Lg,U.... Ratio
L,Lg,U.... 1967-100
0.243
86
0.271
96
0.421
125
0.449
128
0.461
132
0.481
138
0.447
128
0.454 -0.034
-7.2
129
0.007
0,8
0.028
2.4
0,012
3,1
60
46
U,C,C.... A.r., bil. hrs.
„. U,C,C. . Millions
do
C.C.C....
L.C.U.... Thousands
166.02
96.12
89.57
23,813
0.6
0.2
0.1
-0.4
1.3
1.3
1.1
1.4
0,5
0,1
0,,8
0,,7
48
42
41
40
0.09
0.64
-0,13
90
l,l,L... 1967-100
do
C,C,C....
do
lg,lg,Lg,.,.
do
l.l.L...
do
do
do
do
do
1,1,1....
L,L,L...
1,1,1....
1,1,1,.,.
L,L,L...
B. Cyclical Indicators by Economic Process
Bl. Employment and Unemployment
Marginal Employment Adjustments:
*1. Average workweek, prod workers, mfg
21. Avg. weekly overtime, prod, workers, mfg.3
*5. Avg, weekly initial claims (inverted4)
Job Vacancies:
60. Ratio, help-wanted advertising to unemployment3
46. Help-wanted advertising.,...
Comprehensive Employment:
48. Employee-hours in nonagtt establishments
42. Persons engaged in nonagri. activities
Ml. Employees on nonagri. payrolls
40, Employees in mining, mfg,, construction
90. Ratio, civilian employment to total population
of working age3,.
Comprehensive Unemployment:
37. Total unemployed (inverted1)
43. Unemployment rate, total (inverted*) 8
45. Avg, weekly insured unemployment rate (inv.*)3
*91. Avg. duration of unemployment (inverted*)
44. Unemployment rate, 15 wp°ks and over (inv.4)3
L,LL . Hours
L,C,L...
do
tp,L... Thousands
U.lg.U.... Percent
L.lg.U...,
L,lg,U....
L,Lg,U....
L&L&1&...
Lg,Lg,Lg....
Thousands
Percent
do
Weeks
Percent
57.05
168.15 174.48 176.73 1 7 7 . 7 0 177.06 1 7 7 . 4 8 1 7 8 . 5 6
9 7 . 4 5 1 0 0 . 4 2 101 .75 101 .90 1 0 2 . 0 5 101 .74 101 . 9 2
92.76
94.52
90.14
94.53
94.67
93.79
94.35
2 3 , 3 9 4 2 4 , 5 1 8 2 4 , 8 6 2 25 , 0 4 7 2 5 , 0 5 9 2 5 , 0 8 6 2 4 , 9 9 6
0.2
-0.3
0.2
0.1
58,32
58.96
58.83
58.99
58.70
58.79
8,866
7.9
2.9
19.4
2.7
8,496
7.5
2.7
18.5
2.4
8,510
7.5
2.7
17 .5
2.3
8,543
7.5
2.7
18.1
2.4
8,526
7.5
2.6
17 .3
2.3
8,460
7.4
2.7
17.1
2.3
0.2
0.
0.1
4,4
0.1
0.8
0.1
-0.1
1.2
0.
4.2
0.4
0.2
4.6
0.3
-0,2
0.
0.
5 .4
0.1
37
43
45
91
44
1 4 8 0 . 0 1 5 3 4 . 7 Hi 10. 9 1 6 3 8 . 8 1 6 4 9 . 6
1254.5 1284.6 1339.5 1361.6 1374.3 1372.1 1372.9 1 3 7 7 . 8
1 0 7 2 . 0 1095 .0 1 1 5 0 . 8 1 1 7 2 , 2 1 1 8 5 . 1 1 1 8 3 . 0 1 1 8 3 . 6 1188.7
O.I
0.1
0.4
0.4
1 .7
1.6
1.9
0,7
0.9
1.1
50
52
51
57.15
10,678 10,717
9.7
9.6
4.6
3.8
15.6
20.0
3.2
3.8
-0.29
B2. Production and Income
Comprehensive Output and Income:
50. GNPin 1972 dollars,, ,
52. Personal income in 1972 dollars
*51. Pers. ineome less transfer pay., 1972 dollars
53. Wages and salaries in mining, mfg,, and
construction, 1972 dollars
Industrial Production:
*47. Industrial production, total,
73, Industrial production, durable mt'rs
74. Industrial production,.itondurable mfrs
49. Value of goods output, 1972 dollars
Capacity Utilization:
83. Capacity utilization fate, mfg., BFA3
82, Capacity utilization rate, mfg., FRB3
84. Capacity utilization rate material, FRB3 ,.
C.C.C.... A.r., bil. dol
C,C,C....
do
C,C,C....
do
do
C.C.C....
.C.C.C.... 1967 = 100
do
C,C,C...
do
C,L,L...
C.C.C.... A.r., bil. dol
L,C,U.,.,
LCU
Percent
do
do
215.9
213.5
222 ,6
225.0
225.3
225,7
225 .7
224.6
0.
-0.5
1.1
0.1
53
138.6
124.7
156.2
660.6
147 .6
134.5
168.1
688.6
1.59.8
150.2
176.7
744.9
163.1
153.6
180.1
767 . 4
165 .7
157.1
182.0
771.4
165 .9
157.0
182.4
166.1
157.8
182.2
165 .1
156.5
181.5
0.1
0.5
-0,1
-0.6
-0.8
-0.4
2.1
2.3
1.9
3.0
2.3
1. 1
o . :i
1.6
47
73
74
49
70
71 .1
70.0
74
75.2
75.2
NA
80.7
81.6
NA
81.8
82.7
NA
82.6
82.8
NA
1.1
1.1
NA
o.ij
o.:i
83
82
84
B3. Consumption, Trade, Orders, and Deliveries
Orders and Deliveries:
6. New orders, durable goads
?. New orders, durable goods, 1972 dollars
•8. New orders, cons, goods and mils., 19723 dol
25. Change in unfilled orders, durable goods
,
96. Mfrs ' unfilled orders durable goods5
. .
*32. Vendor performance1 <u)
l,l,L... Bil. dol
75.00
87 .85 1 0 2 . 3 2
9 9 . 9 2 1 0 0 . 4 4 101 .70 1 0 2 . 0 2
97.61
L,L,L.
.do
32.47
42.48
41 .12
37 .01
41 .27
41 .86
40.10
41 .84
L,L,L
do
29.44
34.12
37.90
36.08
38.15
37 .46
37.86
37.28
1,1,1,.,.
do.
6.13
0.98
-1 .81
3.30
2.69
1.12
-0.92
2.35
1 Ig U Bil. dol, EOP .. 2 8 7 . 0 1 3 1 9 . 3 0 3 3 7 . 7 0 3 4 4 . 7 6 3 4 8 . 1 3 3 4 8 . 0 6 3 4 9 . 0 5 3 4 8 . 1 3
L L L Percent
68
37
69
60
54
57
54
58
Consumption and Trade:
56. Manufacturing and tiade sales
*57. Manufacturing and ttade sales, 1972 dollars
75. Industrial production, consumer goods
54. Sales of retail stores
59, Sales of retail stores, 1972 dollars
55, Personal consumption expenditures, automobiles
58. Index of consumer sentiment (u) .
.
C,C,C. .,
C,C,C...
C.L.C..
0,1 U
U.L.U.
L.C.C..
LLL
Bil. dol
3 4 3 . 3 4 367 .06 4 0 0 . 6 2 4 1 0 . 9 1
NA 411 .41 4 1 0 . 6 8
NA
do . , 1 5 2 . 4 9 1 6 1 . 7 0 1 7 2 . 6 7 1 7 6 . 6 5
NA 1 7 6 . 5 7 1 7 6 . 5 6
NA
1967^100..
163.2
142.6
151.7
1 5 9 .7 1 6 2 . 0
161.6
164.0
162.9
Bil dol
9 7 . 8 3 105.32 108.35 1 0 7 . 5 9 107.44 106.81 108.52
89.55
. , . .do
50.68
52.21
47,75
44.67
51 .20
51.58
$1 .66
51 .90
A.r, bil. dol...
88.3
73 .6
101.9
104.6
102 .7
I Q 1966-100
68.0
96.6
87.5
98.9
119.5
96.6
99.1
100.9
0.3
0.
0.1
-2.32
0.3
-6
-4.3
-4,2
-4.8
-1 .90
-0.3
4
-2.3
-3.2
-1.8
-3.78
2.1
1
0.5
0.4
-0.5
-1.23
1.0
«12
6
7
8
25
96
32
-0.2
0.
-0.5
-0.6
-0.9
NA
NA
-1.0
1 .6
1.4
2.6
1.8
2.6
2.3
1.4
2.9
3.0
2.6
-2.9
NA
NA
0.6
-0.7
-1.2
-1 .8
2.4
56
57
75
54
59
55
58
2.2
NA
1.2
NA
-0.4
NA
1 ,7
HA
12
13
84. Fixed Capital Investment
Formation of Business Enterprises:
*12. Net business formation
13. New business incorporations
Business Investment Commitments:
10. Contracts and orders, plant and equipment
*20. Contracts and orders, plant and equipment,
1972 dollars
,
24. New orders, capital goods Indus., r:ondefense
27. New orders, capital goods industries,
nondefense, 1972 dollars
L,l,L... 1967-100
L,L,L.... Number
117.5
113 .2
114.8
47,153 50,162 53,353
117.0
NA
119.0
NA
116.8
NA
119.4
NA
120.8
NA
L,L,L... Bil, dol
24.79
26 .77
30.12
31 .94
31.66
32.66
31.14
31.19
-4.7
0.2
6.0
-0,9
10
L.L.L.... ......... do
do
L,L,L....
12.31
20.63
13 .44
22.73
15 .23
26 ,32
15 .89
27,62
15 .43
27.08
15.41
27,65
15 .45
26.50
15.43
27 .10
0.3
-4.2
-0.1
2.3
4.3
4.9
-2,9
-2,0
20
24
do
10.52
11 .72
13.65
14.11
13.53
13.33
13.53
13.73
1.5
1 .5
3 A
-4.1
27
L.L.L..
Table 1.
Summary of Recent Data and Current Changes for Principal Indicators—Continued
Basic data'
Percent change
Unit
Series title and timing classification1
of
Annual average
measure
1982
1983
IstQ
1984
2dQ
1984
July
1984
3dQ
1984
Aug.
1984
Sept.
1984
July
to
Aug.
1984
Aug.
to
Sept.
1984
IstQ
to
2dQ
1984
2dQ
to
3dQ
1984
j
1. CYCLICAL INDICATORS— Con.
B4, Fixed Capital Investment — Con.
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.s
L,CU
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.:
Residential Construction Commitments and Investment;
28. New private housing units started, total
*29. New building permits, private housing
89. Fixed investment, residential, 1972 dollars
57.38
21 .28
70.76
63.86
22.00
73.50
71 .28
26.82
78.65
79.49
37 . 0 9
92.41
C,Lg,Lg.... A.r., bit. dol
282.71 269.22
do
C.Lg.Lg....
C,Lg,U.... 1967 = 100
C,Lg,C.... A.r., bil.dol
325 .69 3 2 0 . 5 7 3 5 0 . 4 8 3 7 3 . 3 0
153.3
177.0
157.9
171 .6
193.3
166.9
171 .0
202.9
1,062
80.7
37.9
1,703
129.4
53,7
do
-10.4
-3.6
do
ILL
do
L,L,L...
L,L L . Bil. dol
-16.00
L,L,L.., A.r., thousands ,.
L,L,L... 1967 = 100
L.l.L... A.r, bil.dol
293.15
79.70
NA
NA
79.71
84.26
75.12
5 .7
-10.8
302.70 316.22
1 , 9 6 8 1,895
141 .9
146.1
60.6
60.8
NA 3 7 2 . 4 4 3 7 6 . 2 2
185 .2
188.0
187.2
206 .8
NA
188.5
1,754
126 .4
1,539
121 .6
1 ,676
116.3
18.85
54.4
2.40
13.66
55.3
-0.91
NA 5 5 1 . 3 7
NA 2 7 2 . 1 4
NA
87.26
555 .98
273.99
88.83
1 ,656
121.4
61.2
11.5
38.3
17.5
0.3
NA
NA
9
11
97
3.3
4.5
61
1.0
1 .5
NA
0.3
6.5
3.1
5.0
NA
5 .8
1.9
69
76
86
-12.3
-3.8
8.9
-4.4
-3.7
-2.9
0.3
-12.6
-14.4
0.7
28
29
89
NA
NA
NA
-5.19
0.9
-3.31
NA
NA
NA
6.86
-17 .4
-1.38
NA
NA
NA
36
31
38
NA
NA
NA
0.8
0.7
1 .8
NA
NA
NA
2.6
1.9
4.4
NA
NA
NA
71
70
65
85. Inventories and 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
ILL
Inventories on Hand and on Order:
71. Mfg. and trade inventories, book value s
70. Mfg. and trade inventories, 1972 dollars5
65. Mfrs.' inventories of finished goods5
*77. Ratio, constant-dollar inventories to sales, mfg.
and trade 3
78. Stocks of materials and supplies on hand and on
order, mfg.1
Lg,Lg,Lg.... Bil. dol., EOP ...
do
LgtLg,lg....
do
Lg,Lg,Lg....
Lg,Lg,Lg.... Ratio
20.3
32.28
56.3
1 .28
505.55 514.34 532.77
259.40 259.02 265.12
85.02
80.87
82.87
546.83
270.03
86.54
-18.1
-2.13
1.59
1.52
1.52
191.12 2 0 8 . 5 9
216.59
220.44
0.32
285.5
0.52
-0.57
288.1
0.18
1.74
L,Lg,Lg.... Bil. dot, EOP ...
31.6
25.42
73.7
2.66
1.91
8.8
1 .46
-11 .3
31.2
NA
NA
NA
NA
1.54
NA 2 2 2 . 8 5
10.9
30
HA
0.01
NA
NA
77
221 .93
NA
-0.4
NA
1.8
NA
78
-1.40
275.6
-1.05
1.55
0.
B6. Prices, Costs, and 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.... Percent
U,L,L.... 1967 = 100
L,i_,L.. Percent
0.88
274.0
-1.06
0.78
-1.6
-0.41
2.28
-0.6
-0,01
-0.89
0.9
-0,34
-0.33
-4.0
-1 .10
98
23
99
Stock Prices:
*19. Stock prices, 500 common stoc,ks ©
L,L,L... 1941-43 = 10.,, 1 1 9 . 7 1 1 6 0 . 4 1 1 6 0 . 3 6 1 5 5 . 7 6 1 6 0 . 5 4 1 5 1 . 0 8 1 6 4 . 4 2 1 6 6 . 1 1
8.8
1.0
-2.9
3.1
19
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
A.r., bil. dol
ILL
do
L,L,L...
do
L,C,L...
do
LCL
l,l,L... Cents
L,l,L... 1977 = 100
104.8
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
.
-0.38
242.5
-0.67
1 .23
258.5
1.03
-0.90
276.6
-0.92
-2.18
280.1
-0.64
96.2
127.4
60.5
149.4
71.2
4.0
98.0
150.6
71 .0
184.7
87.5
4.9
98.7
150.2
70.3
195.2
92.1
4.9
99.8
NA
NA
NA
NA
NA
99.7
-0.3
-1.0
5.7
5.3
0.
1.1
NA
NA
NA
NA
NA
-0.1
16
18
79
80
15
26
L,L,L... A.r, bil.dol
....do
L,LL
260.4
121.9
318.9
149.3
360.4
167.5
366.7
169.3
NA
NA
1.7
1.1
NA
NA
34
35
Lg,Lg,Lg.,.. 1977-100
153.6
156.0
157.7
156.5
157 .6
-0.8
0.7
63
Lg,lg,Lg.... Dollars
50.6
98.4
47.6
3.4
1.409
1.415
1.414
NA
226.8
102.0
219.6
91.9
218.5
87 .3
218.0
85.6
216.3
83.4
do
76.2
75.0
73.5
73.3
NA
do
L,L L
do
L,C,U.,..
do
L,L L ..
L,L,L... Bil. dol
do
L,L,L...
0.70
0.75
0.86
198.7
814.3
0.75
0.93
0.81
213.8
888.8
0.62
0.51
0.90
217 .6
906.6
0.69
0.62
0.99
218.9
913.8
0.17
0.49
NA
219.4
919.7
-0.11
0.41
1.02
219.8
919.1
0.13
0.39
NA
219.1
918.6
0.49
0.66
NA
219.4
9 2 1 .4
0.24
-0.02
NA
-0.3
-0.1
0.36
0.27
NA
0.1
0.3
C,C,C.... Ratio
do
C,Lg,C..,.
6.697
1.376
6.491
1.297
6.670
1.316
6.739
1.322
6.766
1.330
1 .327
1. 3 3 0
1 .332
0.003
0.002
NA
11 .57
71 . 9 8
10.1
NA
NA
38.03 -27.60
NA - 1 3 . 2 9
-*.o
12.4
NA
26.46
NA
2.3
NA
NA
NA
NA
Lg,Lg,Lg....
NA
68
-0.2
-1.7
-0.8
-2.2
62
62
-0.2
NA
64
0.07
0.11
0.09
0.6
0.8
-0.52
-0.13
NA
0.2
0.6
85
102
104
105
106
0.069
0.006
0.027
0.008
107
108
38.91
NA
36.13 - 5 8 . 7 9
30.08
NA
7 .2
-9.7
22.6
NA
33
112
113
111
110
-0.1
. 1.397
Lg.Lg.Lg.... 1967 = 100
Lg,Lg,Lg.... Percent
215 .6
83.6
216.3
83.4
216.9
83.1
0.3
-0.2
0.3
-0,3
B7. Money and Credit
Money:
85 Change in money supply (Ml) 3
102. Change in money supply (M2)3
104 Change in total liquid assets (smoothed6)3
105. Money supply (Ml), 1972 dollars
*106. Money supply (M2), 1972 dollars
Velocity of Money:
107. Ratio, GNP to money supply (Ml)1
108. Ratio, personal income to money supply (M2)3
Credit
33.
112
113.
*111.
110.
Flows:
Change in mortgage debt3
Change in business loans3
Change in consumer installment credit3
Change in credit outstanding3
Total private borrowing
Credit Difficulties:
14. Liabilities of business failures (inv.') <§>
39. Delinquency rate, installment loans (inv. 4 ) 35
L,L,L... A.r., bil. dol
do
L,L L
do
L,L,L...,
L,L,L... A.r., percent
L,L,L..., A.r., bil. dol
36 .08
91.48 1 3 0 . 3 9
-5.12
17.32
3.66
88.38
52.25
39.77
67 .79
97.87
13.36
4.9
14.7
1.9
21.9
271.41 3 9 0 . 9 9 393.48 482.28
L.L.L... Mil. dol
1300.9
L,L,L... Percent, EOP ...
2.18
NA
1.94
NA
1.85
NA
2.02
NA 1 1 8 . 3 6
29.59
39.17
NA
85 .27
14.1
12.2
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
-0.17
NA
NA
14
39
Table 1.
Summary of Recent Data and Current Changes for Principal Indicators—Continued
Basic data2
Series title and timing classification
Unit
of
measure
1
Percent change
1
Annual average
1982
1S83
1st 0
1984
2dQ
1984
3dQ
1984
July
1984
Aug.
1984
Sept,
1984
July
to
Aug.
1984
Aug.
to
Sept.
1984
IstQ
to
2dQ
1984
?dQ
to
3<1Q
1S84
f:
1
1. CYCLICAL INDICATORS -Con.
B7, Money and Credit=Con.
Bank Reserves:
93, Free reserves (inverted')3 (§>
94. Borrowing from the Federal Reserve 3 ®
L.U.U... Mil. dot
do
., L,Lg,U...
-692
1,052
-545
1 ,034
Interest Rates:
119, Federal funds rate3 ®
114. Treasury bill rate' <§>....
116. Corporate bond yields3 <g)
115 Treasury bond yieds s (g)
117. Municipal bond yields3 ©
118. Mortgage yields, residential1 ©
67, Sank rates on short-term business loans3 ©
*109. Average prime ratts charged by banks3 ®
L.Lg.Lg... Percent
do
C.Lg.lg...
do
Lg.Lg.Lg...
do
Ctlg,Lg.,.
do
U,lg,lg...
do
lg,lg,Lg...
do
Lg,Lg,Lg,..
...do
Lg,lg,lg...
12.26
10.72
14.68
12.23
11 .66
15.30
14.69
14.86
9.09
8.62
12.25
10.84
9.51
13.11
10.64
10.79
Outstanding Debt:
66, Consumer installment credit5
72. Commercial and industrial loans outstanding
*101. Commercial and industrial loans outstanding,
1972 dollars .,..,
*95. Ratio, consumer install credit to pers. income5
10 - 1 , 8 9 6 - 6 , 4 2 3 - 5 , 3 1 7 - 7 , 3 3 4 - 6 , 6 1 8
7,242
745
2,507
7,061
8,017
5,924
9.69
9.13
12.94
11.54
9.73
13.32
11 .06
11 .07
10.56
9.84
14.18
12.69
10.37
14.57
12.45
12.31
11 .39
10.34
13.72
12.34
10.17
14.26
13 .29
12.99
11 .23
10.13
14.25
12.82
10.42
14.58
11 .64
10.49
13.54
12.23
9.99
14.21
11 .30
10.41
13.37
11.97
10.10
13.99
13.00
13 .00
12.97
NA 4 3 7 . 2 4 4 4 3 . 2 4
Lg,Lg,Lg... Bit. dot., EOP .., 3 4 8 . 9 4 3 8 8 . 7 2 4 0 5 . 6 6 4 3 0 . 1 3
NA
268.24 2 6 4 . 9 4 2 7 3 . 7 2 2 9 6 . 2 4 3 0 8 . 9 4 3 0 7 . 2 4 3 0 8 . 2 1 311.38
Lg.Lg.Lg... Bil. dot
do.,
Lg,lg,lg....
Lg.lg.Lg.,.. Percent
106.74
13.10
104.13 1 0 5 . 3 9
13.34
13.68
113.30 118.39 117.27
14.12
NA
14.45
118.09 119.81
14.56
NA
2,017
2,093
-716
-775
1,906
1,762
4,527
4,534
93
94
0.41
0.36
-0.71
-0.59
-0.43
-0.37
-0.34
-0.08
-0.17
-0.26
0.11
-0.22
0.87
0.71
1.24
1.15
0.64
1.25
1 .39
1 .24
0.83
O.;i0
-0.46
-0. J5
-0.20
-O..U
0.34
0.68
119
114
116
115
117
118
67
109
0.
-0.03
1 .4
0.3
NA
1.0
6.0
8.2
NA
4.3
66
72
0.7
0.11
1.5
NA
7.5
0.44
4.5
HA
101
95
0,9
1,1
0,1
0,7
-0,2
0,
-1,6
0,
0,6
0.1
310
320
320
322
330
335
331
332
333
334
II. OTHER IMPORTANT ECONOMIC MEASURES
B. Prices, Wages, and Productivity
81. Price Movements
310.
320.
320e,
3?2
330
335.
331.
33?
333.
334.
Implicit price deflator, GNP
Consumer price index (CPI), all items ©
Change in CPI all items, S/A 3 .
CPI food
Producer price index (PPI) all commodities ©
PPI industrial commodities ©
PPI, crude materials
PPI intermediate material?
PPI capital equipment
PPI, finished consumer goods
.
1972-100
1967-100
Percent
1967-100
do
do
do
do
do.
do
207.4
289.1
0.3
285.7
299.3
312.3
319.5
310,4
279.6
280.9
215.3
298.4
0.3
291.7
303.1
315.8
323.6
312.4
287.3
284.6
220.6
306.4
0.4
301.4
309.3
320.5
334.7
318.0
291 .6
289.8
222 .4
309.7
0.3
301 .3
311 .4
323.2
333.9
320.5
294.2
290.4
224.4
313.1
0.4
303.4
310.8
323.3
328.5
320.5
295 . 9
290.7
311.7
0.3
302.2
312.0
324.0
331 .3
321 .0
295,2
291 .3
313.0
0.5
304.1
310.9
323.5
327 .2
320.5
296.2
290.7
314.5
0.4
303.8
309.5
322.3
327 .0
320.1
296.3
290.0
0.4
0.2
0.6
-0.4
-0.2
-1 ,2
-0,2
0.3
-0.2
0.5
-0.1
-0.1
-0.5
-0.4
-0.1
-0.1
0.
-0.2
0.8
1 .1
-0.1
0.
0.7
0.8
-0.2
0.8
0.9
0.2
1977 — 100
148.3
155.1
158.7
159.9
161.0
160.8
160.6
161 .7
-0.1
0.7
0.8
0.7
340
93,4
154.1
96.8
100.9
100.0
94.8
161.6
98.3
103.7
103.4
94.9
165.9
98.2
105 .7
105 .2
95.2
167 .4
98.1
107.0
106.6
94.5
169.0
98.2
107.5
106.6
95.2
94.1
94.3
-1.2
0.2
0.3
0.9
-0.1
1.2
1.3
-0.7
1.0
0.1
0.5
0.
341
345
346
370
358
0.1
0.
0.2
-0.7
2.4
-2.3
0.2
441
442
37
444
445
446
447
0.
-9.2
-0.8
451
452
453
B2. Wages and Productivity
340. Average hourly earnings, production workers,
private nonfarni economy
341. Real average hourly earnings, production
workers private nonfarrrt economy
345 Average hourly compensation nonfarm business
346 Real averape hourly compensation nonfarm business
3?0 Output per hour private business sector
358 Output per hour nonfarm businass sector
do
do
do
do
do
C. Labor Force, Employment, and
Unemployment
441
442.
37.
444.
445.
446.
447
Labor
45).
452.
453.
Total civilian labor force
Total civilian employment
Nufflbar o1 persons yfl@inpley.ed
Unemployed males, 20 years and over
Unemployed females, 20 years and over
Unemployed persons, 16-19 years of age
Number unemployed full-time workers
Force Participation Rates:
Males, 20 years and over3
Females 20 years and over'
Both sexes, 16-19 years of age3
.
,
1 1 0 . 2 0 1 1 1 . 5 5 1 1 2 . 6 1 1 1 3 . 6 4 113 .71 1 1 3 . 9 4 1 1 3 . 4 9 1 1 3 . 7 0
Millions
9 9 . 5 3 1 0 0 . 8 3 1 0 3 . 7 4 1 0 5 . 1 5 105 .20 1 0 5 . 4 0 1 0 4 . 9 7 1 0 5 . 2 4
. .do.
10,678 10,717
.3 866
Thousands.
8,496
8,510
8,526
8,460
8,543
5,257
5,089
4 149
3,904
3,853
do
3,906
3,878
3,875
3
,
6
3
2
3
,
6
1
3
.do., ..
3 149
3,088
3,163
3,264
3,173
3,053
do
1 568 1,503
1 ,977
1,829
1,464
1 ,468
1,409
1,532
9,006
do
9,075
7 372
6,993
6,980
7,061
7,009
6,986
-0.4
-0.4
-0,2
-1.4
2.9
-3.8
-1.1
0.2
0.3
-0.8
0.6
-6.5
8.7
0.1
0.9
1.4
-4.2
-5.9
-1.9
-4.1
-5.1
Percent., ..
,.do..
do
0.
-0.3
-2.1
0.
-0.3
2.0
0.
0.8
0.8
78.7
52.7
54.1
78.5
53.1
53.5
78.3
53.2
53.7
78.3
54,0
54.5
78.3
53.8
53 .7
A.r., bil.dol.
- 1 4 8 . 2 - 1 7 8 . 6 -161 .3 - 1 6 3 . 7
,. .do
641 .1
616 . 7
686.4
704.3
do
764.9
847.6
819.7
868.0
..do
,.
44.1
32.9
53.9
54.5
do
441 .9
478.2
509.6
520.6
do
409.0
434.1
455.7
466.1
NA
NA
888.8
NA
NA
477.5
Mil dol . .
do
do
1967-100
Thousands
A.r., bil.dol
18,908 20,635 22,419 19,769
10,718 1 0 , 7 8 7 14,380 10,834
6,772
6,256
8,479
6,306
109.4
129.3
119.9
133.3
1,355
1 ,367
1 ,391
1 ,420
179.5
213.4
220.8
200,5
NA 2 0 , 9 8 8 2 3 , 0 9 8
NA 1 0 , 1 0 1 1 2 , 6 4 7
7 ,584
6,895
7,215
136.4
136.7
135.9
1 ,444
1,443
HA
225 .4
NA
NA
5,886
137.7
NA
10.1
25 .2
5 .1
0.4
0.1
NA
NA
-22.4
1.0
NA
-11 .8
-24.7
-25 .6
3.1
2.1
3 5
17 , 6 9 4 1 6 , 7 2 2 17 , 7 5 5 1 7 , 7 0 2
3,053
3,330
3,011
2,997
4,007
3,874
3,536
3,844
,. 2 0 , 3 2 9 21 , 5 1 3 26 , 5 0 1 2 6 , 4 3 1
4,964
4,667
4,383
5,267
2,442
3,609
2,935
3,774
NA 1 9 , 4 4 2 1 8 , 0 3 6
NA
3,022
3,236
NA
3,878
3,790
NA 31 , 8 8 3 2 6 , 5 6 7
NA
5 ,103
4,049
NA
3,648
4,010
NA
NA
NA
NA
NA
NA
-7.2
-6.6
2.3
-16.7
-20.7
-9.0
NA
NA
NA
NA
NA
NA
-0.3
-10.0
-0.8
-0.3
12.9
4.6
78.3
54.1
54.4
78.3
53.8
52,3
78.3
53.5
54.3
D. Government Activities
Dl. Receipts and Expenditures
500.
501,
502.
510.
511.
512.
Federal Government surplus or deficit 3
Federal Government receipts
Federal Government expenditures
State and local government surpSus or deficit 3 ,
State and local government receipts . .
State and local government expenditures
,
-2.4
2.6
2.4
0.6
2.2
2 3
NA
NA
2 . .4
NA
NA
? 4
500
501
502
510
511
512
NA
NA
517
525
548
557
570
564
02. Defense Indicators
517,
525,
548,
557.
570.
564.
Defense Department obligations incurred
Defense Department prime contract awards
New orders, defense products
Output of defense and space equipment
Employment in defense products industries
National defense purchases
9 . ;i
2 . 1)
NA
E. U.S. International Transactions
El. Merchandise Trade
602,
604.
606
612.
614
616.
Exports, excluding military aid shipments, total
Exports of domestic agricultural products
Exports of nonelectrical machinery
General imports, total
Imports of petroleum arid products
Imports of automobiles and parts
Mil, dol
do
do
do
do
do
NA
NA
NA
NA
NA
NA
602
604
606
6U
614
616
Table 1.
Summary of Recent Data and Current Changes for Principal Indicators—Continued
Basic data1'
Series title
Percent chang
A nnual averag
of
1981
1982
1983
2d 0
3983
4th 0
1983
3d 0
1983
i«t n
1984
2d 0
1984
3d 0
1984
4th Q
IstQ
2ttQ
IstQ
1984
2dQ
1984
3dQ
1984
fe
e
s
3s
II. OTHER IMPORTANT ECONOMIC
MEASURES— Con.
E2. Goods and Services Movements Except
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
BiLdol. .
do... .
. . . do . .
. . . do. . .
.. .do.
..
.. ..do.. .
...do. .
.. . d o . . . .
. .
-7 .71
- 9 . 7 0 -14.13 -17 .53 - 2 2 . 3 0
84.83
88.74
81 .36
84.91
90 . 6 9
89.07
94.53
9 9 . 0 4 1 0 8 . 2 2 111 .05
- 1 4 . 8 7 - 1 7 . 5 0 - 1 9 . 4 1 -25 . 8 6 - 2 5 . 7 4
50.44
54.60
48.74
53 .94
51.83
63 .62
67.94
71 .24
80.33
79.79
20.80
20.62
18.97
23.30
19.61
13 .63
16.96
13.00
15.55
14.49
NA
NA
NA
NA
NA
NA
NA
NA
-3.40
6.8
9.3
-6.45
4.1
12.0
18.8
7.3
-4.77
-2.2
2.6
0.12
1 .2
0.7
-11 .5
9.1
NA
NA
NA
NA
NA
NA
NA
NA
667
668
669
622
618
620
651
652
3701,2
1649.6
6,962
1618.5
2604.8
1175.4
4,961
3.5
2.4
2.2
0.9
3.0
2.1
1 .9
2.6
1.7
1.5
2.5
2.1
1 .5
1.3
1.6
0.7
0.4
0.
2.0
0.9
0.6
200
50
217
213
224
225
227
1 8 4 9 . 1 1 9 8 4 . 9 2155 , 9 2141 .6 2181 .4 2 2 3 0 .2 2 2 7 6 .5 2 3 3 2 . 7 2 3 5 9 . 3
9 6 3 . 3 1 0 0 9 . 2 1 0 0 6 . 2 1015.6 1 0 3 2 . 4 1 0 4 4 . 1 1 0 6 4 . 2 1 0 6 4 . 6
950.5
235.4
284.1
299.8
320.7
317.3
276.1
310.9
245.1
279.8
140.9
156.2
140.5
159.6
178.6
177.0
167 ,2
173.7
157.5
823 .0
858.3
863.3
730.7
811 .7
841 .3
757.5
801 .7
796.9
396.1
383.2
396.6
360.8
387.1
363.1
376.3
374.9
378.5
9 8 2 . 2 1 0 7 4 . 4 1 0 6 8 . 6 1 0 8 5 . 7 1107 .5 1 1 2 4 . 4 1 1 5 3 . 7 1 1 7 8 . 7
883.0
459.8
483.4
448.8
491 .5
475.4
482.0
488.9
475 .1 477 . 6
2 .1
1.1
3.7
3.9
2.2
1 .0
1.5
0.3
2.5
1.9
3.2
2.8
2.0
2.5
2.6
1.1
1 .1
0.
-1.1
-0.9
0.6
-0.1
2.2
0.5
230
231
232
233
236
238
237
239
5 .3
5 .4
2.0
1 .6
21 .8
10.9
240
241
242
243
245
30
3.28
93.93
90.65
-7.00
59.27
66 .27
21 .60
13.09
-0.28
-8.23
87 .36
83.05
87.65
91.28
-9.12 -15.26
52.80
50.06
61 .92
65 .33
20.96
19.25
14.01
13.37
A. National Income and Product
Al. GNP and Personal Income
200.
50.
217,
213.
224
225
227
A.r., fail. dol...
GNP, current dollars
. .
GNP, 1972 dollars
Per capita GNP, 1972 dollars
Final sales, 1972 dollars
Disposable personsl income current dollars
Disposable personal income 1972 dollars
Per capita disposable personal income 1972 dollars
do. ..
A.r, dollars..
A.r., bil. dol . .
. . d o
do..
.
A . r , dollars
2957.8
1512.2
6,572
1500.9
2041 .7
1049.3
4,561
3069.3
1480.0
6,370
1490.4
21 80 .5
1058.3
4,555
3304.8
1534.7
6,543
1538.3
2 3 4 0 .1
1095 .4
4,670
3267.0
1524.8
6,510
1530.9
2302.9
1082.0
4,619
3346.6
1550.2
6,602
1549.3
2 3 6 7 .4
1102.2
4,694
3 4 3 1 .7
1572.7
6,681
1565 .4
2428.6
1124.3
4,776
3553.3
1610.9
6,829
1579.3
2502.2
1147.6
4,865
3644.7
1638.8
6,933
1618.5
2554.3
1165.3
4,930
A2. Personal Consumption Expenditures
230
231.
232.
233.
236,
238.
237.
239.
Total current dollars
Total, 1972 dollars
Durable goods, current dollars
Durable goods, 1972 dollars
Nondurable goods, current dollars.
Nondurable goods, 1972 dollars
Services, current dollars
Services, 1972 dollars
A.r., bil. dol
..do
. .do. .
. .do. ..
.
.
. do. ..
. ..do. ...
.. ..do.
.do. . .
.
A3, Gross Private Domestic Investment
240.
241.
242.
243.
245.
30,
Total, current dollars
Total, 1972 dollars
Total fixed investment, current dollars.
Total fixed investment, 1972 dollars
Change in business inventories, current dollars3
Change in business inventories, 1972 dollars3
. .. .do,.
do
..do. ..
... .do.. .
. . ..do. . .
do. .
484.2
230.9
458.1
219.6
26.0
11.3
414.9
194.3
441 .0
204.7
-26.1
-10.4
471.6
221.0
485 .1
224.6
-13.5
-3.6
449.6
212.6
469.0
218.7
-19.4
-6.1
491.9
230.6
496.2
229.8
-4.3
0.9
540.0
249.5
527.3
242.2
12.7
7 .2
623.8
285.5
550.0
253.9
73.8
31.6
627.0
283.9
576.4
263.7
50.6
20.3
660.5
299.2
588.1
268.0
72.4
31 .2
15.5
14.4
4.3
4.8
61.1
24.4
0.5
-0.6
4.8
3.9
-23 .2
-11.3
.
.do.
..
do. ...
. ..do. ..
.. do
.do. .
do
596.5
287 .0
228.9
110.3
367 .6
176 8
650.5
292.7
258.9
117 .0
391 .5
175 7
6 8 5 .5
291 .9
269.7
116.2
415 .8
175 7
682.2
292.4
270.5
117.2
411 .6
175.2
689.8
292.0
269.2
115.6
420.6
176 4
691 .4
288.8
266.3
113.0
425.1
175 8
704.4
289.5
267 .6
112.2
436.8
177 3
743 .7
302.1
296 .4
123.2
447 .4
178.9
766 .9
308.4
307 .7
127 .4
459.2
1 81 . 1
1.9
0.2
0.5
-0.7
2.8
0 9
5.6
4.4
10.8
9.8
2.4
0 .9
3.1
2.1
3.8
3.4
2.6
1.2
260
261
262
263
266
267
do
do
do
do
do
do
280
43 . 8
369.9
160 2
341 . 9
116 4
19.0
29.7
348.4
147 6
329.4
118 0
-8 3
12.6
336.2
1395
344 .4
126 9
-6 .5
13.6
328.1
137 0
334 .5
1 23 .4
-16.4
11.9
342 .0
141 6
35 8 .4
129,7
-29.8
2 .0
346 .1
141 0
375,9
139.1
-51 5
-8.3
358.9
144 9
41 0 .4
153.2
-58.7
-11 .4
362 .4
144.7
421 .1
156.2
-85 .5
-22 .7
375 .5
150.2
461 .0
172.8
-21 .7
-10.3
3.7
2 8
9 .2
10 1
-7 .2
-3.1
1 .0
-0 .1
2 .6
2 .0
-26 . 8
-11 .3
3 .6
3 .8
9.5
10.6
250
255
252
256
253
257
NA
.4 2 7 6 6 . 5 2 8 7 3 . 5 2 9 4 4 . 8
7 2 0 5 5 4 2113 4 21 5 9 . 2 21 91 .2
3
149 8
131 9
154 9
155 9
2
62 0
63 0
61 0
60 4
291 1
NA
0
277 4
26 0 0
292 5
2
282 8
258 9
266 8
3.9
2 8
174
1 0
6 7
3 1
2.5
2 .2
-3 3
1 6
4 9
6 0
NA
1 .5
4 1
1 6
NA
3 4
220
280
282
284
286
288
NA
NA
164.7
NA
6.3
Z2.0
2.5
18.5
21 9
0.8
1 .3
3 .3
-5.0
-1 8
-0.4
NA
NA
13.7
NA
0.6
290
295
292
2 98
293
A4. Government Purchases
of Goods and Services
260.
261.
262.
263.
266.
267
Total, current dollars. .
Total, 1972 dollars
Federal Government, current dollars. . .
.
Federal Government, 1972 dollars
State and local governments, current dollars
State and local governments 1972 dollars
.
250
255
252
256
253
257
Net exports of goods and services current dollars3
Net exports of goods and services 1972 dollars'
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
.
.
. ..
A5. Foreign Trade
A6. National Income and Its Components
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 saving
Personal saving
.
.
Government surplus or deficit3
3
Personal saving rate .
. .
do
do
do
do
do
do
2 3 6 3 . 8 2 4 4 6 . 8 2 6 4 6 . 7 2 6 0 9 .0 26 84
1 7 6 5 4 1 864 2 1 984 9 1 962 4 2 0 0 0
123
121 7
116 9
125 1
111 1
56
583
42 3
59 0
51 5
ISO 1
245
225 2
216 7
1 89 9
259
256 6
254 2
260 9
241 0
A7. Saving
.do.
.
.
.
. . . .
.do.. .
..do. .
..do...
Percent.
..
484.3
372.6
137 .4
26 7
6.7
408.8
388.0
136 .0
115 3
6.2
437 . 2
453 .6
118.1
134 5
5.0
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: I, leading; C, roughly coincident; Lg, lagging; U, unclassified.
414.7
455 .2
485 .7
469.7
486.4
441 .4
119.0
128.7
96.7
123 4 -133 5 - 1 2 9 3
5.0
4.2
5.3
543.9
498.8
152.5
107 4
6.1
551 .0
515.3
144.8
109 2
5 .7
1
For a few series, data shown here are rounded to fewer digits than those shown
figures published by the source agencies are used if available.
3
Differences rather than percent changes are shown for this series.
'Inverted series. Since this series tends to move counter to movements in general
the changes are reversed.
s
End-of-period series. The annual figures (and quarterly figures for monthly series)
period.
®This series is a weighted 4-term moving average (with weights 1, 2, 2, 1) placed
the span.
elsewhere in BCD. Annual
business activity, signs of
are the last figures for the
on the terminal month of
CYCLICAL INDICATORS
COMPOSITE INDEXES AND THEIR COMPONENTS
Chart Al. Composite Indexes
Nov. Get,
P T
Jan July July NOT.
T
P
T
Indtx: 19H-1001
910. index of 12 fading indicators
(series 1, 5J, 12,19,20,29,32,36. 99.106. Ill)
920. Index of four roughly coincident Motors
(series 41147, 51, 57)
930, Index of six lagging indicators
{series 62, 77,91, 95,101,1U3J
194849 50 51 52 53 54 55 56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 71 72 73 74 75 76 77 78 79 80 81 82 83 841985
NOTE: Numbers entered on the chart indicate length of leads {-) and fags { + ) in months from reference turning dates.
Current data for these series fire shown on page 60.
10
OCTOBER 1984
ItCII
CYCLICAL INDICATORS
A I
COMPOSITE INDEXES AND THEIR COMPONENTS—Continued
Chart Al. Composite Indexes—Continued
Aug, Apr.
Apr, Feb.
P T
P
Jan. July July Nov.
T
F T P
T
914, iCapital investment commitments (series
915. Inventory investment and purchasing (series 8,
916, Profitability (series 19,26,80)
917. Money and financial flows (series 104,
940, Ratio, coincident index to lagging
:
: If 1.
• ' I:
• ! : •
•.iiifif. ,:/• , '
. WUL • • , :\ .v.; .
• .-194849 50 51 52 53 54 55 56 57 58 59 00 61 62 63 64 65 66 67 68 69 70 71 72 73 74 75 76 77 78 79
83 841985
NOTE: Numbers entered on the chart indicate length of leads {-} and lags ( + ) in months from reference turning dates.
Current data for these series are shown on page 60.
OCTOBER 1984
11
COMPOSITE INDEXES AND THEIR COMPONENTS—Continued
Chart A2. Leading Index Components
Nov. tkt
P
T
!L>[|; May
P T
uf>, Apr,
Apr. Fob,
P T
P
i)«t;. Nuv.
P r
T
N&v.
p
an July July
P I P
Wev.
T
1. Average workweek, production workers, manufacturing (hours)
inn
5, Average weekly initial claims, State unemployment insurance
(thousands—inverted scale)
New orders for consumer goods and materials in 1972 doiars
32. Vendor performance, percent of companies receiving slower
deliveries (percent)
12, Net business formation (index: 1967-100)
20, Contracts and orders for plant and equipment in
1972 dollars (b«, do),)
Current data for these series are *;hown on pages 61, 64, 65, and 66.
12
OCTOBER 1984
KCII
CYCLICAL INDICATORS
A
COMPOSITE INDEXES AND THEIR COMPONENTS—Continued
Chart A2. Leading Index Components—Continued
Nov. Oct.
P
T
July May
P T
Aug. Apr,
Apr. Feb.
P T
P
Nov. Mar.
Jan. July July
» T
P
Nov.
T
29, New;building permits, private housing units (index: 1967==
MI
36. Net change in inventories on hand and on order in 1972 dollars, smoothed1 (ann. rate, bil. dot,)
99. Change in sensitive materials prices, smoothed1 (percent)
19. Stock prices, 500 common stocks (index: 1941-43=10)
L
106, Money supply
M2 in 1972 dollars (biOloiT
,^_____ » •*•»! iiiittHten<Br^j^^.^3aic^Br-^4-'^'"-^' -i
U,L
. Change in credit outstanding-—business and consumer
borrowing (ann, rate, percent) rjjT
194849 50 51 §2 53 §4 55 56 57
71 72 73 74 7i 76 77 78 79 SO 81 82 83 841985
'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, 71, and 72.
BCII OCTOBER 1984
13
CYCLICAL
A
COMPOSITE INDEXES AND THEIR COMPONENTS—Continued
Chart A3. Coincident Index Components
N0y. Oct.
P
T
July May
P T
Aug. Apr.
Apr, Feb.
P T
P
Dae. Nov.
T
P
Nov. Mar.
P
T
T
Jan. July July
Nov.
P I P
T
41. Employees on nonagricultural payrols (nitons)
70 -J
_^"
./"M"
i,WW-
UOO-
1100*
51. Personal income less transfer paymei
1972 dollars (ann. rate, bi. do).)
\*M\ "* " "11 T
?JOO*
i: :
S
^S
I
:
!i
:
;
900vlil.
im
170WO'
140^
i;?o-
1110
il!0
iyO'
HO'
110KO-
57. Manufacturing and trade sates
130-
120'
no-
1943 49 H© S3, B^ S3 !34 5S B6 §>J US §§ f
@6 67
71 72 73 74 7i 76 77 78 J9 86 il 82 83 84198S
Current data for these series are shown on pages 62, 63, and 69.
14
OCTOBER 1984
BCII
CYCLICAL
A
I
COMPOSITE INDEXES AND THEIR COMPONENTS—Continued
Chart A4. Lagging Index Components
Aug. Apr.
P T
Apr. Feb.
P T
Dec. Nov.
P T
Wov. Mar.
P
T
Jan. July July
F T P
Nov.
T
91. Average duration of unemployment (weeks—inverted scale)
77, Ratio, constant-dollar inventories to sales
62. Labor cost per unit of output, manufacturing—actual data
as percent of trend
109. Average prime rate chargedJ^^anks (percent)
101. Commercial and industrial loans outstanding
in 1972 dollars (bil. dol.)
95. Ratio, consumer installment credit to personal income (percent)
Lg.Lglg
194849 50 51 52 §3 54 55 5S 57 58 59 ©0 61 62
Current data for these series are shown on pages 62, 68, 70, and 73.
KCII OCTOBER
1984
15
CYCLICAL INDICATORS
B I
CYCLICAL INDICATORS BY ECONOMIC PROCESS
Chart Bl. Employment and Unemployment
Apr. Feb.
P
Dee.
Nov.
P
T
I
Nov.
Mar.
P
T
Jan, July
July
P T
P
80
81
Nov.
T
[Marginal Employment Adjustments]
1, Average workweek, production mitajrs, manufacturing (hours)
production wooers , manufacturing (hours)
21, Average weekly ov
initial claims, State
(thousands—inverted scale)
fC.L
fill. Ratio, heln. wantw
of persons unemployed
wanted advertising; (index
1959 60
61
64
6S
66
67
68
69
70
71
72
73
74
75
76
77
78
79
82
83
84
85 1986
Current data for these series are shown on page 61.
16
OCTOBER
1984
!!€!»
CYCLICAL INDICATORS
B [
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued
Chart Bl. Employment and Unemployment—Continued
m, July
July
Nov.
F
P
T
T
190*
rehensive Employment |
180170-
48. Emptoybe-hours in nnnayricultoral estahlishmenfa
160-
(ana rte, bit, hours)
1501401051
10095"
90"
858075-
41. Employees on nonagricultural payrolls (millions)
rrn
706528 «
Employees in goods-producing industries
manufactdfing, and construction
2726252423222120 J
60-
90. Ratio, civilian employment to total population of working age (percent) /S
59-
\
5857565554-
1959
60
61
62
63
64
65
66
67
68
69
70
71
72
73
74
75
76
77
78
79
SO
81
82
63
84
85 1986
Current data for these series are shown on pages 61 and 62.
OCTOBER 1984
17
B
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued
Chart Bl. Employment and Unemployment—Continued
Dee. KQV.
P
T
Apr. f-eb.
P
T
Nov.
Mar.
P
T
Jan. July
P T
July
P
Nov.
T
| Comprehensive Unemployment |
37. Number unemployed (millions—inverted scale)
9*
1113-
43. Unemplojfment rate, total (percent—inverted scale)
10-
II-
45. Average weekly insured unemployment rate (percent—inverted scale)
3-
91. Average duration of unemployment (weeks—inverted scale)
10
12
14
44. Unemployment rate, persons unemployed 15 weeks and over (percent—inverted scale)
m
si
at
§1
©4
ss
m
Current data for these series are shown on page 62.
18
OCTOBER
1984
CYCLICAL INDICATORS
B I
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued
Chart B2. Production and Income
Apr. Feb.
P
T
Jan. July
F T
July
P
Wov.
T
I Comprehensive Output and Income!
52. Personal income in 1972 dollars (ann. rate, bfl. dol.)
cZc
51. Personal ncome less transfer payments in 1972 dollars
(ann. rate, bU. dot.)
in mining, manufacturing, and
53, Wages and
construction in 1972 dollars (ann. rate, bil dpi.)
1959
60
61
62
63
64
65
66
67
Current data for these series are shown on page 63.
BCII OCTOBER
1984
19
CYCLICAL INDICATORS
B I
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued
Chart 82. Production and Income—Continued
Apr. Feb.
P
Dee.
P
T
Nov.
Kev.
Mar.
P
T
Jan. July
July
Nov.
P T
P
T
T
180-t
170160-
150140-
47, Industrial production, total (index: 1967 =JOOJL
'
e] '""
130120-
JS
74. Industrial production, nondurable manufactures
(index: 1967=100)
\^
190180170160150140*
130*
120-
J
110-
v^
7
^r^^ 73. IndustrialVoduction, durable manufactures
(index: 1967= 100)
*.
fiiil
/
800-
750*
7006S0600-
jS~*~~^*~^T'J'
/* ^y
550§00-
W> V^* °* £°°ds OUIPUI « ii*^ dollars, Q
-/
450-
fc^c]
83, Rate of capacity utilization, manufacturing (BEA), Q (percent)
| Capacity Utilization]
70-
80-
82. Rate of capacity utilization, manufacturing (FRB), Q (percent)
70-
84. Rate of capacity utilization, materials, Q (percent)
60 J
8070-
60195i
60
61
62
i3
©4
6S
©6
I
71
72
73
74
75
76
77
78
84
88 1986
Current data for these series are shown on pages 63 and 64.
20
OCTOBER 1984
KCII
CYCLICAL INDICATORS
B I
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued
Chart B3. Consumption, Trade, Orders, and Deliveries
Apr. Feb.
P
T
Jan. July
P T
July Nov.
P '
T
8. New orders for consumer goods and materials
in 1972 dollars (bil. dol.)
25. Change in unfilled orders, durable goods industries
(bii. dol,; MCD moving avg.—4-term)
96. Manufacturers' unfied orders, durable goods industries
(bil. dol.)
i
32. Vepdor performance, percent of companies
receiving slower del[verie^ (percent)
1959
60
61
63
63
64
65
66
67
68
69
70
71
72
J3
81
82
83
84
89 1986
Current data for these series are shown on page 64.
BCII OCTOBER 1984
21
CYCLICAL
B I
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued
Chart B3. Consumption, Trade, Orders, and Deliveries—Continued
Apr, Fob.
P
T
Dec,
Nov.
Nov.
F
T
P
Jan. July
F
T
July
Nov.
P
T
[Consumption and Trade]
56. Manufacturing and trade sales in current dollars
(bi. doL)
^^
™-——-
57. Manufacturing and trade sales
in 1972 dollars M,.«,)_
75. Industrial production, consumer goods
(index: 1967-
lie
54. Sales of retail stores in currenfdolIaFs ^bit; dof.
J
59. Sales of retail stores
" "in 1972
"dollars
" ffl ddj
55. Personal consumption expenditures,
automobiles, Q (ann. rate, bii, dol)
L,C,C
58. Index of consumer sentiment (1st Q 1966=100)
§0
SI
62
©3
S4
0S
7g
76
77
78
79
S3
84
SS
1986
OCTOBER
1984
Current data for these setrloe are shown on page 65.
22
CYCLICAL INDICATORS
B I
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued
Chart B4. Fixed Capital Investment
;|Formation of Business Enterprises!
13. New business incorporations (thousands)
I
Investment Commitments |
Contracts and orders for plant and equipment
in current dollars (bil, do!.) 45J
20. Contracts and orders for plant
in 1972 dollars (bil. do!.)
24. Manufacturers' new orders, capital goods industries,
nondefense, in current dollars (bil. dol.)
27. Manufacturers' new orders, capital goods industries,
nondefense, in 1972 dollars (bil. dol.)
(mil. sq. ft. of floor area; MCO moving avg.—6-terrn)
1959
00
81
62
63
84
65
.2
83
84
85
1980
'This is a copyrighted series used by permission; it may not be reproduced without written permission from McGraw-Hill Information Systems Company, F.W, Dodge Division.
Current data for these series are shown on pages 65 and 66.
KCII OCTOBER
1984
23
CYCLICAL
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued
Chart B4. Fixed Capital Investment—Continued
Feb.
T
Dec.
?
Nov.
T
Nov.
P
Mar.
Jin. July
F T
July
P
Wav.
T
| Business Investment Commitments—Con.
97. Backlog of capital appropriations mmufStaring, Q
11, New capital appropriations, manufacturing,
Q(b!.dol.)
61. Business expenditures for new plant and equipment, Q
(ann. rate, bi, dot,)
[Business Investment Expenditures]
69. Machinery and equipment sales and business
construction fixpcnclitiiifjcS (ano* tatff* M76, Industrial production, business equipment
(index: 1967=100)...., _
1959
60
61
83
83
84
85 1988
Current data for these series are shown on pages 66 and 67.
24
OCTOBER 1984
ltd*
CYCLICAL INDICATORS
B
CYCLICAL INDICATORS BY ECONOMIC PROCESS— Continued
Chart B4. Fixed Capital Investment— Continued
Apr. Feb,
P
T
—r
Dec, Nov.
P
T
Nov
P
Jan. July
July
Nov.
P T
P
T
| Business Investment Expenditures—Con
Nonresidential fixed investment in 1972 dollars, Q (ann. rate, bil. dol.)
86. Total, Q
*""
rw
88. Producers' durable equipment, Q
so-
40-
[Residential Construction Commitments and Investment[.
28, New private housing units started (ann. rate, millions)
jul
&
29. New building permits, private housing units (index: 1967-100)
89. Residential fixed investment in 1972 dollars, Q
(ann, rate, bil. dol.)
1959
60
61
62
63
64
6S
66
84
88 1986
Current data for these series are shown on page 67.
ltd*
OCTOBER 1984
25
CYCLICAL INDICATORS
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued
Chart B5. Inventories and Inventory Investment
Apr. Feb.
P
Dee. Nov.
P
T
| Inventory Investment]
T
T
Jan. July
P T
July
P
Nov.
T
30. Change in business inventories in 1972 dolars, Q (ann. rate, bj|, dpi,)
fuJI
36. Net change in inventories on hand and on order in 1972 ddars
(ann. rate, bil. dol,; moving avg,—4-term1) ^
31. Change in book value, manufacturing and trade inventories
(ana rate, bil. dol.; MCD moving avg.—6-term)
38, Change in stocks of materials and supplies on hand and on order,
[manufacturing (bil, dot.; MCD moving avg.—4-term)
'This Is a weighted 4- lerm moving average (with weights 1,2,2,1) placed on the terminal month of 'the span.
Current data for these series are shown on page 68.
26
OCTOBER 1984
KCII
CYCLICAL IMD
B
I
CYCLICAL INDICJ TORS BY ECONOMIC PROCESS—Continued
Chart B5. Inventories anc Inventory Investment—Continued
Apr. Feb.
P
Nov.
Dec. Nov.
P
T
P
T
Jan. July
F
T
July
Nov.
P
T
1 Inveiitoriesi on Hand and on i)rder
71. Manufacturing and trade
book value (bil. dol.)
\
70. Manufacturing and trade wentories in 1972 dollars (bl. dd.)
no*
100-
so*
8070-
65. Book value of manufacturers' inventories
of finished goods (bil. dol.)
77. Ratio, constant-dollar inventories to sales, manufacturing and trade
1.7 •
^
"Z
^V/K
"V*r
1.6-
V/V:
1.51,4 J
2S024@^
220 =
2©0180°
160 =
78. Stocks of materials and supplies on hand^fpn'ofjerj
manufacturing (bil. dol-JfLTTLgT
" ^
/
1959
60
61
62
S3
64
5
z ,
120100_: ^_:^.~ . ' • xr^-nra-r;-...» ^—•-
€6
Current data for these series are shown on pag 68.
OCTOBER
1984
I
27
CYCLICAL INDICATORS
B I
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued
Chart B6. Prices, Costs, and Profits
Apr, Feb.
P
Dec.
T
Nov.
P
Sensitive Commodity Prices
Jan. July
P I
Nov.
P
T
July
P
Nov.
T
98. Change in producer prices for 28 sensitive materials
(percent; MCD moving avg,—6-term)
99. Change in sensitive materials prices (percent; moving
avg,—4-term1) [L,L,L
19. Stock prices, 500 common stocks (index: 1941-43-10)
|Profits and Profit Margins
18. Corporate profits after taxes in 1972 iJotlars, Q
(ann, rate, bil. dol) jLLL
16. Corporate profits after t^xes in current doiars, Q
(ann, rate, bi, dol)
70
71
72
73
74
79
76
77
78
79
83
84
S3 1986
l
fhls Is a weighted 4-term moving average (with weights 1,2,2,1} placed on the terminal month of the span.
"Boglnnlng with data for Juno 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 1984
ItCII
CYCLICAL
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued
Chart B6. Prices, Costs, and Profits—Continued
Apr. Feb.
P
Dec. Nov.
T
——ir
P
Nov. Mar.
T
P
Jan. July
July
P T
P
T
Nov.
T
•
|Profits and Profit Margins—Con.
79. Corporate profits after taxes with IVA and CCAdj in
$, Q (ann. rate, bil. dol.)
40 -
80. Corporate profits after taxes with IVA and CCAdj in
1972 dollars, Q (ann. rate, bil, dol.) r
14-
22. Ratio, corporate profits after taxes to corporate domestic
1210-
I-
81. Ratio, corporate profits after taxes with IVA and
to corporate domestic income, Qj (percent) rjj"[~t
i! ' ' : 15. Profits after taxes per doflaif^JgfejL"131!111!-a-£Sifog c^^^5LSj(PnM
26, Ratio, price to unit labor cosLnonfarm business sector Q(jndex: 1977 =
410 H
:|Ca$ti| Flows]
400350300-
aso34. Net cash flow, corporate, in current dollars, Q
150100-
35. Net cash flow, corporate, in 1972 dollars, Q
(ann. rate, fail, dol.) I L L LI
50 J
1959
60
61
B2.
63
64
65
66
7©
71
73
84
85 1980
Current data for these series are shown on pages 69 and 70.
ItCII OCTOBER 1984
29
CYCLICAL INDICATORS BY ECONOMIC PROCESS-Continued
Chart B6. Prices, Costs, and Profits—Continued
Apr. Fell.
p
Dee.
r
P
Jin. July
F T
Mar.
Nov.
T
T
July
P
Nav.
T
170160-
[Unit Labor Costs and Labor Share I
IbO140*
130120-
no100*
63. Unit labor cost, private business sector, Q
(index: 1977=100)
so80*
Qfl
1,61.5U-
1,31,21,1-
68. Labor cost in current dolars per unit of real gross domestic product, jr
nonfinancial corporatom, Q (dollars)
.——. _~
1,00.9-
62, Labor cost per unit of output, manufacturing (index: 1967-100)
L2,Lg,L
64. Compensation of employees as a percent of national income,
Q (percent)
|lg,lg,Lg|
~
7876747270
72
73
7S
76
84
8B
Current data for these series are shown on page 70.
30
OCTOBER 1984
licit
CYCLICAL
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued
Chart B7. Money and Credit
Jan. July
F T
July Nov.
P
T
85. Change in money supply Ml
^
j_
(percent; MCD moving avg.—6-term)|i,L,Li|
102. Change in money supply M2
(percent; MCD moving avg.—6-term)
104. Change in total liquid assets (percent; movingiavg.-^-term1) |L,L,L
.m,.,:,,.,,:, ,;'.,,,,
t
.*. .JL__.... . ,
. ... ^JL AC . ±.^g^^L^^^ -^rfiwJi^
SSTTETS^SSS^'O^^.1J^^ VM^Y
105. Money supply Ml in 1972 dollars (bil. dol.)
106. Money supply M2 in 1972 dollars (bil. dol.)
107. Ratio, GNP to money supply Ml, Q (ratio)
clTc
|Velocity of Money;
108. Ratio, personal income to money supply M2 (ratio)
1999
6©
61
'This is a weighted 4-term moving average (with weights 1,2,2,1) placed on the terminal month of the span.
Current data for these series are shown on page 71.
BCII OCTOBER 1984
31
CYCLICAL INDICATORS
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued
Chart B7, Money and Credit—Continued
Apr,
Feb.
P
T
Jao.Jyly
F T
July
P
NOT.
T
81
82
33. Change m mortgage debt (am.
112, Change tn busi
MCD moving avg.-^B
111, Change in credit outstanding—business and consumer
borrowing (arm, rate, percent)
(arm, rate, bit, dd.)
1939
60
61
62
63
64
63
66
70
71
72
73
74
75
76
77
78
79
80
83
84
85 1986
Current data for these series are sbown on pages 71 and 72.
32
OCTOBER 1984
BCI»
CYCLICAL INDICATORS
B I
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued
Chart 67. Money and Credit—Continued
Jan. July
July
Now.
F T P
' :~™' -; ' v~
T
"
[CredttiiDifficulties
14. Current liabilities of business failures (mil dol.inverted scale; MCD moving avg,—6-term)
11
39. Delinquency rate,
(percent—inverted scale)
>WJ
r
over, consumer installment loans
Q
s/
W^:\A.>^/
(bit. dol—inverted scale)
UUJ
94, Member bank borrowing from tt)e Federal Reserve (bi. dol.)
1959
60
61
62
63
64
65
66
67
68
69
70
71
72
73
74
73
76
77
78
79
80
81
82
83
84
85 1986
Current data for these series are shown on page 72.
itcn
OCTOBER 1984
33
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued
Chart B7. Money and Credit—Continued
Apr.
Rjh.
P
T
Doe.
Now.
P
T
Jan. July
P T
July
P
Nov.,
T
pnte^st Rates]
119, Federal funds rate (percent)
U
114. Treasury bill rate
(percent)
116. Corporate bond yields (percent)
115. Treasury bond yields (percent)
Cjl
118. Secondary market yields on FHA mortgages (percent)
117, Municipal bond yields (percent)
84
85 198S
Current data for these series are shown on pages 72 and 73.
34
OCTOBER 1984 K*A
CYCLICAL INDICATORS
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued
Chart B7. Money and Credit—Continued
Jan. July
F T
July
P
Nov.
T
;| Interest Rates—Con. |
17-
67. Bank rates on shwt-temrfasinesrto^^
1312 =
1110-
§00 T
459-
109. Average, prime rate charged by banks (percent)
=— H 350 =
200-
| Outstanding Debtj
CoMUM jpsjajiment Qreji{
260220 =
ial and industrial toans outstanding in current
(biLdol.)
100-
101. Commercial and industrial loans outstanding in 1972 dollars
(fail do!,)
-**
16*
95. Ratio, consumer nstaKment credit to personal income (percent)
1210"
1959
60
61
62
S3
64
6S
66
87
Current data for these series are shown on page 73.
BUI OCTOBER
1984
35
CYCLICAL
C
I
DIFFUSION INDEXES AND RATES OF CHANGE
Chart Cl. Diffusion Indexes
Dee.
Apr, Feb.
P
Now.
Wov.
P
T
Jan, July
P T
Mar.
P
T
950, Twelve leading indicator components (6-mo, span
T
, 1-mo. span- —)
July
P
Nov.
T
[P^ntrising]
100-
951. Four roughly coincident indicator component? (6-mo. span—*, 1-mo. span—)
pfipiiiiHivtfv iffl/ypnv
I« I!!!«!!»«! IH| Mr b1f|kj;|j|j(u-j| ( L
1
U'li 8 ! liI
:i li!
« Mil
It-i—«.—I
«~,4|-H(4f"l-TJf1*
j
' )
I !
§0-
I*'
i
952. Six lagging indicator components (6-mo. span—-*, 1-mo. span—)
100-
961. Average workweek, production workers, manufacturing—20 industries (9-mo. span
, 1-mo. span-—)
100-
962. Initial claims, State unemployment insurance—51 areas (percent declining; 9-mo. span
, 1-mo. span-—)
50-
963, Employees on private nonagricultural payrofls—172-186 industries (6-mo. span—, 1-mo. span—)
1001
1939
60
61
82
S3
€4
65
71
72
77
JB
S3
84
m 1986
Current data for these series are shown on page 74.
36
OCTOBER 1984
CYCLICAL
DIFFUSION INDEXES AND RATES OF CHANGE—Continued
Chart Cl. Diffusion Indexes—Continued
Apr. Feb.
P
T
Dec,
P
Nov.
T
Nov.
P
Mar,
T
964, New orders, durable goods industries—34-35 industries
(9-mo. span^—j, 1-mo. span-—)
Jan, July
F T
July
P
Nov.
T
Percent rising |
100 T
165- Newlv approved capital appitaiations^eflated—JJJndu^
90«
70-
5030 J
966, Industrial production-424 industries (6-mo, span*-vt 1-mo, span—100«
50-
0-
967. Spot market prices, raw industrials—1£ industrial materials (9-mo. span—, 1-mo. span—)
100-
50-
968. Stock prices, 500 common stocks—46-82 industries (9-mo. span-—, 1-mo. span—)
50-
about 600 companies1 (4-Q span)
90!
§0-
1959
60
61
62
83
64
65
66
§7
89 1986
'This is a copyrighted series used by permission; it may not be reproduced without written permission from Dun & Bradstreet, Inc.
Current data for these series are shown on page 75.
Bill OCTOBER
1984
37
CYCLICAL
C
I
DIFFUSION INDEXES AND RATES OF CHANGE—Continued
Chart Cl. Diffusion Indexes—Continued
Jan. July
P T
Nov. Mar,
July Nov.
P
T
Actual
•Anticipated «•
I Percent rising)
Jan, July
P T
Mov. Mar.
P
T
[Actual
I Anticipated
1 !!•!•«
•
••*•
July
P
[Percent rising];
» < •
*-*-••
970, Business expenditures for new plant and
equipment—21 industries (1-Q span)
(a) Actual expenditures
—_,. . -p
: -.^-T-.-T •-. »—S.
-Tf^
-
-"
-
974. Numbel' of employees, manufacturing and trade (4-Q span)1
- " * - , . 5 — T T T - . — t™J—rr- -
70 1
§0-
i Later anticipations
975. Level of inventories, manufacturing and trade (4-Q span)1
(a) Actual expenditures
971, New orders, manufacturing (4-Q span)1
976, Selling prices, manufacturing (4-Q span)1
972, Net profits, manufacturing and trade (4-Q span)1
977. Selling prices, wholesale trade (4-Q span)1
70-
973. Net sales, manufacturing and trade (4-Q span)1
978, Selling prices, retail trade (4-Q span)1
90 <
73
74
76
77
78
79
8©
81
82
83 1984
'This Is a copyrighted series used by permission; it may not be reproduced without written permission from Dun &Bradstreet, Ihc. Dun & Bradstreet diffusion indexes are based on surveys of about 1,400
business executives.
Current data for these series are shown on page 76.
38
OCTOBER 1984
IICII
DIFFUSION INDEXES AND RATES OF CHANGE—Continued
Chart C3. Rates of Change
Dec.
P
Nov.
P
Nov.
T
Mar.
T
Jan. July
P T
July
P
Nov.
T
1-month spans --3-month spans —-
920c, Composite index of four roughly coincident indicators
930c, Composite index of six lagging indicators
47c, Index of industrial production
50c, GNP in 1972 dollars (1-0 span)
48c. Employee-hours in nonagricultural establishments
51c. Personal income less transfer
payments in 1972 doiars
1959
60
61
62
63
64
6S
66
67
88
§9
7©
71
72
73
1@>
7S
7®
77
7i
79
S®
81
S2
§3
§4 -85
1986
NOTE: Data for these percent changes are shown occasionally in appendix C. The "Alphabetical Index—Series Finding Guide" indicates the latest issue in which the data for each series were published.
ltd* OCTOBER
1984
39
NATIONAL INCOME AND PRODUCT
Chart Al. GNP and Personal Income
Apr.
Feb.
P
T
Dee, Nov.
P
T
Wow.
Mar.
P
T
Jan. July
F
T
July
P
200, GNP in current dollars, Q (arm. rate, bffl, dol.)
223, Personal income in current dollars
(ann. rate, bit, dol,)
224. Disposable personal income in current
dolars, 0 (ann. rate, bil. dol.)
18001600
213, Final sales in 1972 dollars, Q (ann. rate,!. W
1400
1200
1000800-
225. Disposable personal income in 1972
dolars, Q (ann, rate, bil. dol.)
600
8-1
7
217. Per capita GNP in 1972 doflars, Q (ann. rate, tbous. dbtf
65-
227. Per capita disposable personal income in
"
1050
60
61
S2
63
©4
©S
66
-
83
84
85 198@
Current data for these series are shown on pages 63 and 80.
40
OCTOBER
1984
OTHER IMPORTANT
NATIONAL INCOME AND PRODUCT—Continued
Chart A2. Personal Consumption Expenditures
Apr. Feb.
P
Dec. Nov.
I
P
T
Nov.
P
Mar.
T
Jan. July
F
T
July
Now,
P
T
Annual rate, bittion dollars (current)]
Annual rate, bion dollars (1972) |
1959
60
61
62
63
64
Current data for these series are shown on pages 80 and 81.
KCII OCTOBER
1984
41
OTHER IMPORTANT
NATIONAL INCOME AND PRODUCT—Continued
Chart A3. Gross Private Domestic Investment
Apr,
Feb.
P
T
Dee. Nov.
P
T
Nov.
Mar.
P
T
Jan. July
P T
July
P
Nov.
!
[Annual rate, billion dolars (current)!
Gross private domestic investment
245, Change in business inventories, 0
[Annualrate,biondolars (1972)1
160120-
148-
30. Change in business inventories, Q
50
©31
©^
('13
S4
©5
Current data for these series are shown on page 81.
42
OCTOBER 1984
OTHER IMPORTANT ECONOMIC
NATIONAL INCOME AND PRODUCT—Continued
Chart A4. Government Purchases of Goods and Services
Annual rate, billion doiars (current)]
Government purchases of goods and services—
266. State and local
governments, Q
Federal Government, Q
Annual rate, bion doiars (1972) [
267. State and Jocai_gQvernmentsu.Q
263, Federal Government, Q
1959
60
61
62
63
64
65
Current data for these series are shown on page 81.
OCTOBER
1984
43
OTHER IMPORTANT ECONOMIC
A
NATIONAL INCOME AND PRODUCT—Continued
Chart A5. Foreign Trade
Dec. Nov.
Apr. Feb.
P
P
T
Nov.
Mar.
P
T
T
Jan. July
July
P T
P
[Annual rate, bikxi doiars (current)|-
252. Exports of goods and services, Q
§00*1
253. Imports of goods and services, Q
250. Net exports of goods and services, Q
Annual rate, bion doiars (1972)]
256, Exports of goods and services, Q~—
~257. Imports of goods and services, Q
255. Net exports of goods and services, Q
19B9
60
61
62
S3
§4
Current data for these series are chown on page 82.
44
OCTOBER
1984
KCII
OTHER IMPORTANT ECONOMIC
NATIONAL INCOME AND PRODUCT—Continued
Chart A6. National Income and Its Components
Apr. Feb.
P
T
Nov.
P
Dec. Nov.
P
T
Jan, July
F T
Mar.
T
July
P
Nov.
T
Annual rate, bii(M| doiars (current)!
*~*— 280. Compensation of employees, Q
400360320280240-
286, Corporate profits with inventory valuation and capital consumption
adiustments>Q
;:
200-
_7
160 •
140 «
z
t.
120100908070-
r
60«
^288. Net interest, Q
50-
282. Proprietors' income with inventory valuation and
Hsapital' consumption .Adjust
40-
284, Rental income of persons with capital
consumption adjustment, Q
/
20-
10J
1959
60
SI
62
63
64
65
66
67
69
70
71
72
73
78
79
81
82
83
84
8S 198$
Current data for these series are shown on page 82.
IICII OCTOBER
1984
45
IMPORTANT ECONOMIC
NATIONAL INCOME AND PRODUCT—Continued
Chart A7. Saving
Apr. Feb.
P
T
Dee.
P
Nov.
Nov.
Mar.
P
T
Jan. July
T
P
T
July
Now.
P
T
Annual rate, biffion doiars (current) |
290. Gross saving (private aind government), Q
298, Government surplus or deficit, Q
293, Personal saving rate, Q
10-
in
_/\
641
71
72
77
78
79
SO
Si
§2
83
84
85 1986
Curront data for these series are shown on pages 62 and 83.
46
OCTOBER
1984
KCII
OTHER IMPORTANT
I
NATIONAL INCOME AND PRODUCT—Continued
Chart A8. Shares of GNP and National Income
Apr. Feb.
P
T
Dec.
P
Nov.
P
Nov.
T
Mar,
T
Jan. July
F
T
July
Wov,
P
T
I Percent olGNP]
70°
235. Persona! consumption expenditures, Q
60 -
268, State and local government purchases
of goods and services, Q
265. Federal Government purchases of goods and services, Q
10-
248, Nonresidential fixed investment; Q
5-
249. Residential fixed investment, Q
^247. Change in business inventories, Q
251, Net exports of goods and services, Q
| Percent of National income]
64. Compensation of employees, Q
75-
70-
65-
287. Corporate profits with inventory valuation and
capital consumption adjustments, Q
10-
283, Proprietors' income with inventory valuation
and capital consumption adjustments, Q
-~,«J
5-
285. Rental income of persons with capital consumption adjustment, Q
1959
60
61
62
63
64
69
66
7©
71
72
73
84
as 1986
Current data for these series are shown on page 83.
ltd)
OCTOBER
1984
47
OTHER IWIPORTAINT ECONOMIC MEASURES
B
PRICES, WAGES, AND PRODUCTIVITY
Chart 81. Price Movements
Nov.
Jan. July
P T
Mar.
I
July
P
Jan. July July
F T P
Nov.
T
I Index: 1972=100.1
240
220
200
Nov.
T
(Percentchange at annual rate|
310c, Impirit price deflator,
(1~Q span)
415-
180
310, knplcit price deflator, GNP, Q
>5-
160
140
311c. Fixed-weighted price index, gross business product (1~Q span)
31J, Fixed-weighted price index,
I gross business product, Q
1972
73
74
75
76
77
78
79
81
82
83 1984
1972 73
74
75
76
77
78
79
80
81
82
83 1984
Current data for these series are shown on pages 84, 85, and
48
OCTOBER 1984
OTHER IMPORTANT ECONOMIC MEASURES
B
PRICES, WAGES, AND PRODUCTIVITY— Continued
Chart Bl. Price Movements— Continued
Jan July
F T
July
P
Nov.
T
320c. All terns (6-month span)
Chart B2. Wages and Productivity
c 1977=1001
200-|
180160-
341, leal average hourly earnings of production
140-
workers, private nonfarn^ economy1
120-
^V
I
10080-
340. Average hourly earnings of production workers,
private nonfarm economy (current dollars)1 |
200180160140-
346. Real average
nonfarm business sector
1201008060"
Average hourly compensation, all employees,
nonfarm business sector, Q (current dollars)
40-
1959 60
61
62
63
64
65
66
67
68
69
70
71
72
73
74
75
76
77
78
79
81
82
83
84
S3 1986
'Adjusted for overtime {in manufacturing only) and interindustry employment shifts and seasonally.
Current data for these series are shown on pages 84, 87, and 88.
ItCII OCTOBER 1984
49
IMPORTANT
PRICES, WAGES, AND PRODUCTIVITY—Continued
Chart B2. Wages and Productivity—Continued
Apr. i-'eb.
p
r
Dec.
in average hourly earning of production
;, private nonfarm Economy 1 —"f—f 1111 ?
Jan. July
F T
Nov. Mar.
p
p
T
\ . j
tjUj;
, 7T~7^rjO~JJi irr^
AL LwM**^
<
J.
NOT,
T
.. ukfc i
t
'^tt^
340c, Current-dollar earnings ^W1;/^^ *
July
P
--- ••-•
inES
i3^^^
Change in average hourly compensation, all employees,
nonfarrn business sector, Q—
345c, Current-dollar compensation
w
THilarfer spans Tann.rate)
Negotiated wage and benefit decisions, all industries—
348, First year average changes, Q (ann. rate)
349. Average changes over life of
contract, Q (ann, rate)
I index: 1977=1001
| Productivity]
110'
358, Output per hour, all persons,
nonfarm business sector, Q
100'
\ ^_^
90"
J7rj. TOP per haul,"Ti
80-
private business sector, Q
70-
370c, Change in output per hour, private business sector, Q
V
/ .
4-quarter spans '•
q
8
| Percent change |
IV^
73
74
7§
76
77
78
79
S@
81
82
83
84
85 198S
1
Adjusted for overtime (In manufacturing only) and interindustry employment shifts and seasonally. "One-month percent changes havo been multiplied by a constant (12) to make them comparable
with the annualtzed 6-month changes. See page 87 for actual 1-month percent changes.
Current data for these series are sSiown on pages 87 and 88.
50
OCTOBER 1984
KtJ)
OTHER IMPORTANT ECONOMIC
LABOR FORCE, EMPLOYMENT, AND U N E M P L O Y M E N T
Chart Cl. Civilian Labor Force and Major Components
Jan. July
Apr. Feb.
P
F
I
T
July
Nov.
P
T
441. Civilian labor forte (mj|pgns)
Labor force participation rates (percent)
451. Males 20 years and over
453, Both sexes 16-19 years of age
Number unemployed (millions)—
37, Total unemployed
444, Males 20 years-^
and over
446. Both sexes 16-19 years of age
447. Number unemployed, fulkime
Workers (millions) ""*"
<wo. Humuer enpuyeu pdii-uinc lui ctut
reasons (millions)
1959
60
61
62
63
64
65
66
67
1986
Current data for these series are shown on page 89.
ltd*
OCTOBER 1984
51
OTHER IMPORTANT ECONOMIC
GOVERNMENT ACTIVITIES
Chart Dl. Receipts and Expenditures
Apr. Feb.
P
T
Dec.
P
Nov.
Nov.
T
Jan. July . July
P T
P
Mar.
P
T
Wev.
T
[Annual rate, bion doiars (current)]
1300 •
I
I
1100900*
700"
500-
502, Federal Government expenditures, Q
300-
501. Federal Government receipts, Q
ino500. Federal Government surplus or deficit, Q
600 •
§00400 «
511, State and local government receipts, Q
200-
512. State and local government expenditures, Q
100 «*
+ 80-
+60-
510, State and local government surplus Of deficit, Q
+404-20-
10§9
60
61
62
S3
64
71
72
73
74
77
78
81
82
S3
84
85
Current data for these series are shown on page 90.
52
OCTOBER 1984
HtCII
OTHER IMPORTANT ECONOMIC MEASURES
I £) I
GOVERNMENT ACTIVITIES—Continued
Chart D2. Defense Indicators
Apr, Feb.
P
T
Nov.
P
Dec. Nov.
P
T
Mar.
T
Jan. July
F
T
July
P
Nov.
T
26 «
jfice Measures of Defense Activity!
2218-
•VI
m
14-
517. Defense pepartment gross obligations incurred
(bil. dol.j MCD moving avg.—6-tqrm) '
525, Defense Department military prime contract awards
(by. dol.; MCD moving avg.-6-term)
543. Defense Department gross unpaid obligations outstanding (bit. dol.)
548. Manufacturers' new orders, defense products
(bil. dpi.; MCD moving avg.—6-term)
JYJLJL
1959
60
itJHiR.
61
62
63
64
65
66
67
68
69
70
'
71
iL'uLPJ J
72
73
74
75
76
77
78
79
80
81
83
84
89 1986
Current data for these series are shown on page 90.
BUI
OCTOBER
1984
53
[IMPORTANT
GOVERNMENT ACTIVITIES—Continued
Chart D2. Defense Indicators—Continued
Apr, I'elj.
P
T
Dee.
P
Now.
T
(\low.
P
Jin. July
P T
Mar.
T
July
P
Nov.
T
160*1
|Intermediate and Final Measures of Defense Activity]
140-
557. Output of defense and space equipment (index: 1967^ 100)
12D"
10080 •*
22-1
201816-
LZ:
1412-
559. Manufacturers' inventories, defense products (bil do),)
10-
561. Manufacturers' unfilled orders, defense products (bil dol.)
18161412-
580. Defense Department net outlays, mitary functions and military
assistance (bil. doi.; MCD moving avg,—6-term) "*"
10-
7654-
588. Manufacturers' shipments, defense products
(by. dol.; MCD moving avg.—4-term)
3-
2*
73
74
J7
?S
84
85 1986
Current data for these series ore shown on page 91.
54
OCTOBER 1984
KCII
OTHER IMPORTANT ECONOMIC
GOVERNMENT ACTIVITIES—Continued
Chart D2. Defense Indicators—Continued
Apr. Feb.
P
T
;
•
:•
••-;! ;
t 1
[intermediate and Final Measures of Defense Activity—Cbn7|
:
Nov.
P
Dec, Nov.
P
T
Mar.
T
Jan. July
P T
July
P
Nov.
T
'
570. Employment in defense products industries (millions)
Defense Department personnel (millions)—
578. Civilian, direct hire employment
564. Federal Government purchases of goods anTsiracesTorlltiorTaT
defense, Q (ann. rate, bil, dol.)
60-
40-
565, National defense purchases as a percent of GNP, Q (percent)
10*
9-
_
8«
7-
654.
1959
60
61
62
S3
64
65
66
67
70
731
72
73
75
7®
77
78
79
84
85 1986
Current data for these series are shown on page 91.
ltd*
OCTOBER
1984
55
OTHER IMPORTANT
U.S. INTERNATIONAL TRANSACTIONS
Chart El. Merchandise Trade
Apr.
P
Nix
T
Dee.
Mar.
P
T
Jan, July
F T
July
P
2416-
602, Exports excluding military aid shipments
(bil, dol.; MCD moving avg.—5-term)
6
1
5*
43-
2-
|j 604, Exports of domestic agricultural products
?
(bil, dol.)
606, Exports of nonelectrical machinery
(bit. dot,)
3430 «
26-
14*
10-
6-
612, General imports (bi, dol.; MCD moving avg.—4-term)
9.0"
8.07.06.05.04.0-
;'
3.0-
614, Imports of petroleum and petroleum products
2.0-
1,0-
616. Imports of automobiles and parts (bil, dol.)
0,80,60.4-
0,2-
S3
84
85 1986
Current data for these series are shown on page 92.
56
OCTOBER 1984
BCIt
OTHER IMPORTANT
E I
U.S. INTERNATIONAL TRANSACTIONS—Continued
Chart E2. Goods and Services Movements
Apr. Feb.
P
Dec. Nov.
T
P
Nov.
Mar.
P
T
T
Jan. July
F
T
July
Nov.
P
T
[Annual rate, billion dollars)
g^g] Excess of receipts
l-i.::vi:.:ji::| Excess of payments
667. Balance on goods and services, Q
Merchandise, adjusted--
Merchandise trade
Investment income—
651. Income on U.S. investments abroad, Q
652. Income on foreign investments in the U.S., Q
1959
60
61
62
63
64
S§
§4
SS 1986
Current data for these series are shown on page 93.
!!€!»
OCTOBER
1984
57
OTHER IMPORTANT ECONOMIC
INTERNATIONAL COMPARISONS
Chart Fl. Industrial Production
Apr. Feb.
P
T
Die. Nov.
P
T
Jan. July
F T
Nov.
P
July
P
Nov.
T
280-
Industrial production—
240*
220209-
y
721. QECD European pmintrifg
\
JIL
m
189ISO*
140120-
47, United States 1
100 «
/^. united Kingdom
80*
728. Japan
60-
1959
60
©1
®a
63
64
S5
66
67
71
72
73
74
75
76
77
78
79
80
SI
83
84
SS
Current data for these series are shown on page 94,
58
OCTOBER
1984
BCD
OTHER IMPORTANT
INTERNATIONAL COMPARISONS—Continued
Chart F2. Consumer Prices
Nov.
Chart F3. Stock Prices
Jan. July
Mar.
P
P
T
[Percent change at annual rate |
I
July
Nov.
Nov.
P
T
P
16-month spans]
Mar.
T
Stock prices—
Jan. July
July
Nov.
P T
P
T
I Index: 1967=100l
Consumer prices-
1972
73
74
75
76
77
78
79
I
Current data for these series are shown on pages 95 and 96.
BCII
OCTOBER
1984
59
CYCLICAL INDICATORS
A
COMPOSITE INDEXES AND THEIR COMPONENTS
Q 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
914. Capital
investment
commitments
(series 12, 20,
29)
(1967-100)
915. Inventory
investment
and purchasing
(series 8, 32, 36,
99)
(1967 = 100)
916. Profitability (series
19, 26, 80)
(1967-100)
917. Moiey
and financial
flows (series
104, 106, 111)
(1967-100)
1982
'135. 1
135.7
134.7
138.4
139.9
139,2
126.1
125.3
125.1
109.8
111.7
111.3
104.2
104.2
104.0
96.7
96.5
96.6
94.5
93.2
9^.6
123.3
122.1
122.2
April
May
June
136,0
136.2
135.5
138.0
138.8
137,3
125.9
125.1
124.8
109.6
111.0
110.0
104.9
104.2
102.9
96.4
97.1
97.6
93.1
93.0
92.4
123.0
122.4
122.2
July
August
September
136,2
136.1
137.5
136.4
135.2
134.5
124.3
122.3
121.4
109.7
110.5
110.8
103.9
102.9
103.4
97.8
98.1
98.3
92.6
92.4
93.9
122.5
124.5
124,2
October
November
December
138.6
139.4
140.9
132.9
132.7
138.6
120.2
118.2
116.7
110.6
112.3
113.6
104.7
105.4
107.0
98.0
97.0
96.4
95.0
95.5
96.4
122.7
122.5
122,5
January , . . . . . . . ,
February
March
145.2
147.4
150.2
134.3
133.5
134.6
115.7
115.8
114.4
116.1
115.3
117.7
106.3
107.0
107.2
97.7
99.2
101.3
97.6
98.6
100.5
127.2
129.1
129.8
April
May
June
152.5
184.4
157.3
135.6
137.9
139.8
113.5
111.0
109.8
119.5
124.2
127.3
107.7
109,3
110.3
101.9
102.3
102.5
102.5
104.6
105.7
129.7
129.0
131.5
July
»
August
September . . . . . . .
158.2
158.9
160.0
140.7
140.8
143.3
109.7
110.3
109.7
128.3
127.7
130,6
109.4
108.9
109.3
103.1
104.4
104.7
106.5
107.0
107.9
133.4
132.0
130.2
October
November
December
162.4
162.5
163.4
145.0
145.9
147.5
109.6
110.0
110.9
132.3
132.6
133.0
110.4
110.0
109.2
105.4
105.2
106.1
108.4
108.6
108.8
131.1
132.0
rl33.8
r!64.5
166.9
167,3
149.5
150.6
151.0
r!09.6
rill.4
rl!3.0
E>rl36.4
r!35.2
r!33.6
110.3
[H)112.1
111.0
106.1
106.9
107.6
109.2
108.4
r!09.3
r!33.5
r!35.3
r!36.7
168.2
[H)rl68.5
r!66.9
152.6
153.9
155.5
rl!4.6
rl!6.3
rl!7.4
r!33.2
r!32.3
r!32.5
111.0
rlll.O
mo. 9
107.9
0>rl07.9
106.0
rllO.l
rllO.8
110.2
r!37.2
rl38.5
|H>rl38.6
r!64.1
164.0
2
164.6
155.7
155.7
3
[H) 155.8
rll8.8
120.0
E>M20.7
rl31.1
H29.8
p!29.1
r!09.8
rllO.4
pl.10.4
r!04.7
r!03.4
P103.2
109.8
[H)plll.8
(NA)
r!37.6
136.4
p!37.5
January
February
March
1983
1984
January
February
March
April
May
June
July
August
September
October
November
December
NOTE; Series are seasonally adjusted except for those, indicated by (§>, that appear to contain no seasonal movement. Current high values are indicated by (fl); 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 issue. The "r" indicates revised; "p", preliminary; "e", estimated; "a", anticipated; and "NA", not available.
Graphs of these series are shown on pages 10 and 11.
Includes a substitute value for series 1. Sec "New Features and Changes for This Issue" on page iii of the March 1982 issue,
2
Excludes series 36, for which data are not available.
3
Kxcludes series 57, for which data are not available.
"Excludes suries 77 and 95, for which data are not available.
60
OCTOBER 1984
CYCLICAL INDICATORS
CYCLICAL INDICATORS BY ECONOMIC PROCESS
MAJOR ECONOMIC
PROCESS
Qj EMPLOYMENT AND UNEMPLOYMENT
Minor Economic
Process
Timing Class
L, C, L
L,L, L
1. Average workweek
of production workers,
manufacturing
Year
and
month
(Hours)
L, C, L
21. Average weekly
overtime hours,
production workers,
manufacturing
L, Lg, U
5. Average weekly
initial claims, State
unemployment
insurance '
60. Ratio, help-wanted
advertising to persons
unemployed
(Ratio)
(Thous.)
(Hours)
Comprehensive
Employment
Job Vacancies
Marginal Employment Adjustments
U, C, C
L, Lg, U
46. Index of helpwanted advertising
in newspapers
48. Employee-hours
in nonagricultural
establishments
(1967-100)
(Ann. rate,
bil. hours)
1982
37.4
39.5
39.1
2.3
2.4
2.3
563
514
566
0.336
0,316
0.288
106
103
96
164.24
168.94
168.32
April
May
June
39.0
39,1
39.1
2.4
2.3
2.3
566
585
551
0.254
0.250
0.241
88
87
85
167.52
167,63
166.55
July
August
September
39.1
39.0
38.8
2.3
2.3
2.3
533
605
653
0.227
0.213
0.193
83
78
73
165.91
165.52
165.14
October
November
December
38.9
39.0
39.1
2.3
2.3
2.3
651
616
531
0,196
0.195
0.208
76
78
83
164.36
163.50
164.61
39.5
39.1
39,7
2.4
2.4
2.6
507
478
479
0.214
0.215
0.216
83
83
83
165.75
164.04
165.06
April
May
June
40.1
39.9
40.1
2.9
2.7
2.9
470
453
406
0.212
0.232
0.245
81
87
92
166.67
167.07
167.47
July
August
September
40.2
40.3
40.7
3.0
3.0
3.2
380
408
387
0.281
0.272
0.282
100
97
98
168.29
168.25
170,68
October
November
December
40.6
40.6
40.6
3.3
3.3
3.4
386
381
378
0.334
0.360
0.392
111
114
121
171.12
170.69
172.73
40.9
40.9
40.7
3.5
3.5
3.5
364
E>345
348
0.406
0.436
0.421
123
129
124
174.01
175.02
174.40
40.6
40.6
[H>3.7
3.3
3.3
360
348
350
0.418
0.437
E>0.491
124
125
134
176.89
176.31
176.99
40.5
40.4
3.3
3.2
365
358
368
0.481
0.447
pO.454
E>138
128
r!77.06
r!77.48
G>pl78.56
January
February
March
....
1983
January
February
March
. ,.
1984
January
February
March
April
May
June . . .
..
D41.1
....
July .
August
September
p40.5
P 3.3
p!29
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.
OCTOBER 1984
61
CYCLICAL INDICATORS
B
I
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued
MAJOR ECONOMIC
PROCESS
Q| EMPLOYMENT AND UNEMPLOYMENT-Continued
Minor Economic
Process
u.c, c
C, C, C
L, C, U
U. Lg, U
42, Persons
engaged in nonagricultural
activities, labor
force survey
41. Employees
on nonagricultural payrolls,
establishment
survey
40. Employees
in goodsproducing industries (mining, mfg., construction)
90. Ratio,
civilian employment to total
population of
working age
(Thous.)
(Thous.)
(Thous.)
(Percent)
Timing Class
Year
and
month
Comprehensive Unemployment
Comprehensive Employment-Continued
L, Lg, U
L, Lg, U
Lg, Lg, Lg
Lg, Lg, Lg
37. Number of
persons unemployed, labor
force survey
43. Unemployment rate,
total
45. Average
weekly insured unemployment rate,
State programs '
91. Average
duration of
unemployment
44, Unemployment rate,
persons unemployed 15
week;, and over
(Thous.)
(Percent)
(Percent)
(Weeks)
(Parcent)
L, Lg, U
1982
96,301
96,419
96,374
90,402
90,409
90 301
24,691
24,667
24 524
57.46
57.48
57.38
9,393
9,693
9,910
8.6
8.9
9.0
4.1
4.1
4.3
13.4
14.1
14.0
2.2
2.5
2.7
96,223
96,726
96,314
90,059
90,006
89,755
24,299
24,165
23,920
57.23
57.51
57.15
10,303
10,363
10,480
9.4
9.4
9.5
4 5
4 6
4 6
14.4
14.8
16.0
2,8
2.9
3.1
July
August
September . . .
96,086
96,183
96,046
89,412
89,208
89,103
23,716
23,528
23,376
57.01
56.99
56.84
10,896
10,910
11,267
9.9
9.9
4.6
15.4
16.1
16.6
3.3
3.4
3.5
October
November
December
95,703
95,537
95,550
88,820
88,674
88 646
23,101
22,930
22 873
56.63
56.52
56.44
11,544
11,887
11,894
10.4
10.7
17.2
17.4
10 7
5.1
5.1
4 8
18 4
3.8
4,0
4 2
January
February
March
95,734
95,757
95,930
88,827
88,728
88,945
22,959
22,827
22,832
56.48
56.45
56.48
11,523
11,516
11,419
10.4
10.4
10.3
4.5
4,5
4.4
19.4
19.1
19.2
4.2
4.2
4.1
April
May
June
96,214
96,388
97,264
89,259
89,578
89,927
22,949
23,087
23,241
56.60
56.63
57.14
11,369
11,188
11,162
10.2
10.1
10.0
4,4
4.1
19.2
20.2
21.4
4,0
4.1
4.0
July
August .
September . .
97,726
98,035
98,568
90,274
89,918
91,018
23,414
23,532
23 669
57.35
57,45
57.62
10,600
10,633
10 353
9.5
9 5
9 2
3,7
3.5
3 3
21.3
19 9
20 2
3.9
3 6
3 5
October
November ,
December
98,730
99,349
99,585
91 345
91 688
92 026
23 895
24 058
24 198
57.61
57.92
58 05
9 896
9,429
9 195
8 8
8 4
8 2
3 ?
3 2
3 1
20 1
20 2
1Q fi
3 3
3 1
^ n
99,918
100,496
100,859
92,391
92 846
93,058
24,383
24 577
24,595
58.06
58.41
58.49
9,026
8,801
8,772
8.0
7.8
7.8
3.0
20.5
9
18 8
2,9
2 6
2.5
101,009
101 899
D 102 ',344
93,449
93,786
94,135
24,760
24,851
24,974
58.59
59.04
E>59.24
8,843
8 514
1)8,130
7.8
7 5
H>7.1
102,050
101 744
101 923
r94 350
r94 532
fu\^?R nsfi
n?d QQ£
8 543
8,526
8,460
7 5
7 5
fuSnQ4 fi71
58 99
58 70
58 79
January
February
March
April .
May
June
. . . .
10.2
4 7
4 9
1983
3 9
1984
January
February
March
April
May
June
July
August
September . . .
y,OC
("IRQ
7 A
Q
2.9
18.8
2.8
18.5
2,5
9 7
1Q A
2
2.7
18.6
2.3
2 7
(H>2.6
2 7
18 1
17 3
fH)l7 1
October
November
December
See note on page 60.
Graphs of these series are shown on pages 14, 15, 17, and 18.
*Data exclude Puerto Rico, which is included in figures published by the source agency.
62FRASER
Digitized for
OCTOBER 1984
C
2 4
2 3
fTj\ o o
H/£* j
CYCLICAL INDICATORS
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued
MAJOR ECONOMIC
PROCESS
|yj PRODUCTION AND INCOME
Minor Economic
Process
Timing Class
Year
and
month
Industrial Production
Comprehensive Output and Income
50. Gross national product
in 1972 dollars
(Ann, rate,
bil. dol.)
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. dot.)
53. Wages and
salaries in
mining, mfg.,
and construction in 1972
dollars
(Ann. rate,
bil. dol.)
C, C , C
C, C, C
Personal income
223. Current
dollars
(Ann. rate,
bil. dol.)
C, C r C
47. Index of
industrial
production,
total
(1967 = 100)
C, C, C
C, L, L
73. Index of
industrial
production,
durable manufactures
74. Index of
industrial
production,
nondurable
manufactures
(1967 = 100)
(1967-100)
C, C , C
49, Value of
goods output
in 1972 dollars
(Ann, rate,
bil. dol.)
1982
January
February
March
1,483.5
2,521.5
2,542.6
2,545.2
1,246.4
1,256.2
1,255.0
1,072.0
1,080.7
1,077.9
222.9
223.7
222.7
140.7
142.9
141.7
127.1
129.3
128.2
155.1
157.8
157.3
669.0
April
May
June .
1,480.5
2,561.2
2,570.7
2,572.7
1,260.4
1,258.9
1,248.3
1,081.2
1,079.5
1,070.1
221.8
220.2
217.1
140.2
139.2
138.7
126.7
126.1
125.5
156.1
155.0
155.3
662! 6
July
August
September
l,477!l
2,591.4
2,591.5
2,599.8
1,251.9
1,248.9
1,249.3
1,067.8
1,064.9
1,064.2
214.8
212.7
211.0
138.8
138.4
137.3
125.9
124.9
123.5
155.7
156.9
156.7
65?! 9
October
November
December
l,478!s
2,617.0
2,645.0
2,656.3
1,249.2
1,261.9
1,267.3
1,060.8
1,070.3
1,074.8
208.3
207.3
208.4
135.7
134.9
135.2
120.3
119.3
119.9
156.2
155.3
155.6
653!e
January
February
March
I 9 49l!b
2,659.7
2,656.8
2,671.8
1,264.1
1,260.9
1,265.7
1,075.5
1,071.1
1,074.8
2 10,. 5
209.4
210.2
137.4
138.1
140.0
122.5
123.9
126.3
157.4
159.0
160.7
658.*9
April
May . ,
June . . .
1,524*.8
2,693.2
2,715.8
2,734.4
1,268.0
1,275.6
1,282.6
1,077.6
1,083.0
1,091.3
210.6
210.9
212.2
142.6
144.4
146.4
129.1
131.0
133.2
163.3
165.4
167.8
68i!e
July
August
September
1.55CL2
2,744.9
2,759.9
2,785.0
1,283.3
1,284.9
1,291.1
1,094.2
1,096.8
1,104.1
213.3
213.6
216.0
149.7
151.8
153.8
136.8
138.8
141.6
170.6
172.9
174.6
698 !l
October
November
December
1,572!7
2,814.9
2,834.2
2,860.4
1,306.2
1,312.1
1,321.2
1,119.1
1,121.9
1,130.8
217.1
218.2
219.8
155.0
155.3
156.2
142.8
143.6
145.0
175.6
174.8
173.9
715!5
January
February
March
1,610.9
2,897.4
2,923.5
2,940.6
1,332.8
1,341.7
1,344.0
1,144.1
1,153.1
1,155.3
221.9
223.1
222.9
158.5
160.0
160.8
148.6
150.5
151.4
175.2
177.2
177.6
744! 9
April
May
June , . .
1,638.8
2,968.5
2,978.8
3,006.5
1,354.2
1,358.9
1,371.6
1,165.0
1,169.7
1,181.8
224.7
224.7
225.7
162.1
162.8
r!64.4
152.6
153.3
154.9
179.1
179.9
rl81.3
767.4
July
August
September
H>pl,649.6
r3,026.8
r3,045.1
E>p3, 071.1
rl, 372.1
rl,372.9
E>pl,377.8
rl, 183.0
rl,183.6
(H)pl,188.7
r225.7
Dr225.7
p224.6
r!65.9
H>rl66.1
p!65.1
r!57.0
E>rl57.8
p!56.5
[H>rl82.4
182.2
plBl.5
®p77l!4
1983
1984
October
November
December
See note on page 60.
Graphs of these series are shown on pages 14, 19, 20, and 40.
OCTOBER 1984
63
CYCLICAL INDICATORS
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued
MAJOR ECONOMIC
PROCESS
£9 PRODUCTION AND INCOME-Continued
Q| CONSUMPTION, TRADE, ORDERS, AND DELIVERIES
Capacity Utilization
Orders and Deliveries
Minor Economic
Process
Timing Class
L, C, U
83. Rate of
capacity
utilization,
manufacturing
(BEA)
Year
and
month
(Percent)
82. Rate of
capacity
utilization,
manufacturing
(FRB)
(Percent)
L, C, U
84. Rate of
capacity
utilization,
materials
(Percent)
L, L, L
L.L.L
Value of manufacturers' new
orders, durable goods industries
6. Current
dollars
(Bil. dol.)
7. Constant
(1972) dollars
(Bil. dol.)
L, L, L
8. New orders
for consumer
goods and
materials in
1972 dollars
(Bil, dol.)
L, L, L
L, Lg, U
1, L, L
25. Change in
unfilled orders,
durable goods
industries
96, Manufacturers' unfilled
orders, durable
goods industries
32. Vendor
performance,
compares receiving slower
deliveries ®
(Bil. dol.)
(Bil. dol.)
(Percent
reporting)
1982
January
February
March
72^9
73*.6
76.13
77.37
78.60
33.29
33,83
34.31
29.04
29.50
30.48
-0.53
-1.34
-0.24
308.24
306.89
306,65
32
36
35
7i!e
7<X7
76.91
75.83
74.92
33.50
32.89
32.42
29.40
30.48
29.94
-1.04
-3.54
-3.64
305.61
302.08
298.44
31
30
38
7i!6
69.*4
75.23
72.05
73.23
32.51
31.12
31.52
30.04
29.23
29.75
-3.24
-4.49
-3.22
295.20
290.71
287.49
37
40
40
69.'6
67.'i
71.55
71.54
76.61
30,76
30.68
32.79
28.25
28.42
28.70
-1.64
-1.64
285.84
284.21
287.01
44
40
38
81.84
77.52
79.80
35.06
32.96
33.87
31.42
31,64
31.70
-0.38
0.15
290.85
290.47
290.61
41
42
50
*72
April
May
June
'?i
July
August
September
*69
October
November
December
,
,
"68
2.81
1983
January
February
March
?6!7
?6!i
*70
April
May
June
*73
July
August
September
'76
October
November
December
3.83
73^8
73*.5
82.86
83.29
89.46
35.16
35.19
37.64
32.02
33.56
33.86
2.74
1.28
3.87
293.36
294.63
298.50
52
52
52
77.'i
77.'5
87.88
88.82
91.51
36.91
37.23
38.35
34.60
35.20
35.31
2.80
2.09
2.55
301.30
303.39
305.94
52
61
60
78.9
79.'e
94.78
97.99
98,44
39.72
40.95
41.09
36.09
36.60
37.49
5.60
5.68
2.09
311.53
317.21
319.30
64
59
67
80 *7
81 .*6
99.44
102.34
|H>105.18
41.50
42.52
[H>43.43
[H>38.59
38.38
37.49
4.15
6.06
E>8.19
323.46
329.51
337.70
63
68
B>72
98.32
102.26
99.17
40.49
42.13
40.74
37.28
r38.44
36.65
2.62
4,31
0.13
340.32
344.63
344.76
71
70
66
rl01.70
r 102. 02
p97.61
r41.84
r41.86
p40.10
r37.86
r37.90
p36.08
r3.30
rO.98
p-0.92
r348.06
(H)r349.05
p348.13
60
54
58
E>77
1984
January
February
March
..
April
May
June
July . ,
August
September
(NA)
81.8
E)p82".6
82.7
H>P82;8
October
November
December
See note on page 60.
Graphs of these series are shown on pages 12, 20, and 21.
64
OCTOBER
1984
CYCLICAL INDICATORS
B I
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued
MAJOR ECONOMIC
PROCESS
Minor Economic
Process
Timing Class
C.C.C
c, c, c
56. Current
dollars
(Mil. dol.)
57. Constant
(1972) dollars
(Mil. dol.)
C, L, C
75. Index of industrial production, consumer
goods
(1967-100)
C.L.U
U, L, U
Sales of retail stores
54. Current
dollars
(Mil. dol.)
FIXED CAPITAL
INVESTMENT
Formation of Business Enterprises
Consumption and Trade
Manufacturing and trade sales
Year
and
month
B
JQ CONSUMPTION, TRADE, ORDERS, AND DELIVER! ES-Continued
59. Constant
(1972) dollars
(Mil dol.)
L, C , C
55. Personal
consumption
expenditures,
automobiles
L, L, L
58. Index of
consumer,
sentiment <g)
L, L.L
12. Index of
net business
formation
(Ann. rate,
bit. dol.)
(IstQ
1966=100)
(1967 = 100)
L, L , L
13. Number of
new business
incorporations
(Number)
1982
January
February
March
341,593
347,076
346,824
151,294
154,569
154,775
139.6
141.8
141.5
86,468
88,846
87,882
43,539
44,826
44,340
7l!i
71.0
66.5
62.0
113.2
115.6
113.5
43,330
47,234
46,899
April
May
June
345,177
350,022
345,717
153,447
155,152
152,840
142.1
143.6
144.8
88,268
89,794
88,048
44,557
45,145
43,870
70,4
65.5
67.5
65.7
115.2
114.7
112.1
46,876
46,995
45,936
July
August
September . . .
345,663
341,974
342,109
152,873
152,012
151,628
145.8
144.1
143.4
89,252
89,251
90,019
44,382
44,381
44,719
73.4
65.4
65.4
69.3
112.4
112.6
110.4
44,525
46,981
45,552
October
November
December
336,574
339,344
338,065
149,396
151,182
150,684
142.2
141.3
142.0
90,511
92,747
91,861
44,785
45,937
45,566
79*1
73.4
72.1
71.9
111.5
112.9
114.4
45,530
48,474
E>57,507
January
February
March
345,890
342,742
348,227
154,406
153,118
155,385
143.6
143.4
144.3
92,526
92,211
93,804
45,782
45,672
46,323
78.'i
70.4
74.6
80.8
111.4
113.3
112.7
49,999
48,296
48,032
April
May
June
351,012
360,488
368,971
155,865
159,952
163,600
147.7
150.4
152.4
95,125
97,239
98,638
46,767
47,666
48,328
88." i
89.1
93.3
92.2
112.0
114.8
116.4
48,903
50,211
50,992
July
August
September
370,181
373,283
379,229
162,835
163,471
165,070
154.8
156.3
157.3
98,832
98,277
99,537
48,258
47,847
48,366
90.*2
93.9
90.9
89.9
115,2
114.4
115.8
48,601
52,828
50,445
October
November
December
382,457
386,564
395,682
166,410
168,444
171,812
156.9
156.1
157.7
100,923
101,896
102,438
48,968
49,464
49,607
96.'3
89.3
91.1
94.2
118.0
117.8
•116.3
50,441
51,642
51,557
401,133
398,815
401,905
173,478
172,113
172,420
159.5
159.4
160.2
106,602
105,482
103,873
51,300
50,810
49,915
ioi.*9
100.1
97.4
(ED101.0
115.9
119.1
117.6
53,044
53,591
53,424
405,880
412,725
(H>414,124
174,134
177,407
0)178,417
161.4
161.7
r!63.0
107,505
108,237
E>109,322
51,660
,52,162
E>52,813
ERioi.'e
96.1
98.1
95.5
118.5
rl!5.8
rl!6.6
53,933
51,166
(NA)
r411,410
p410,679
(NA)
r!76,566
p!76,556
(NA)
H>rl64.0
163.2
P161.6
r!07,442
r!06,808
p!08,520
r51,655
r51,202
p51,899
p!02'.7
96.6
99.1
100.9
rll6.8
rl!9.4
E)pl20.8
1983
1984
January
February
March
April
May
June
July
August
September
.,.
October
November
December
See note on page 60.
Graphs of these series are shown on pages 12, 14, 22, and 23,
OCTOBER 1984
65
CYCLICAL INDICATORS
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued
MAJOR ECONOMIC
PROCESS
|9
Minor Economic
Process
INVESTMENT-Continued
Business Investment Commitments
Timing Class
I, L, L
1, L, L
Contracts and orders for plant
and equipment
Year
and
month
FIXED CAPITAL
10. Current
dollars
(Bil. dol.)
20. Constant
(1972) dollars
(Bil. dot.)
I, L, I
L, L, L
Value of manufacturers' new orders,
capital goods industries, nondefense
24. Current
dollars
(Bil. dol.)
L,C, U
9. Construction contracts for commercial and industrial buildings'
27. Constant
(1972) dollars
Square feet of
floor space
(Bil. dol.)
(Millions)
Square meters of
floor space 2
(Millions)
U, Lg, U
c, LB, Lg
11. Newly
approved capital
appropriations,
1,000 manufacturing corporations
97. Backlog of
capital appropriations, 1,000
manufacturing
corporations
(Bil. dol.)
(Bil. dol.)
1982
21.85
22.59
21.91
11.00
11.61
11.30
58.18
63.29
61.15
5.40
5.88
5.68
25. 'is
22.45
20.13
19.62
12.07
10.16
58.93
53.71
64.87
5.47
4.99
6.03
20. *02
11.63
11.06
11,96
20.33
18.62
20.28
10.13
57.80
59.78
55.95
5.37
5.55
5.20
is! 44
23.23
23.70
24.47
11.71
11.58
12.58
19.93
20.01
19.84
54.65
50.69
49.55
5.08
4.71
4.60
2L49
January
February
March
23.26
24,07
23.83
11.62
11.77
12.59
20.48
19.17
20.13
6.21
5.37
4.89
20.*07
11.01
66. ,89
57,77
52,65
April
May
June
25.77
28.31
27.24
13.14
13.84
14.07
21.96
21.85
23.83
11.52
11.09
12.61
54.32
61.20
65,40
5.05
5.69
6.08
20.' 87
July
August
September
25.59
27.60
29.09
12.86
13.62
15.15
22.06
22,89
25.30
11.36
11.62
13.54
61.78
65.26
69.20
5.74
6.06
6.43
22.78
October
November . . . , . , .
December
29.66
28.86
27.99
14.78
14.05
13.76
25.50
24.68
24.89
13.01
12.28
12.45
71.35
73.65
66.89
6.63
6.84
6.21
24.26
28.85
30.66
30.85
14,57
15.41
15.71
25.09
27.02
26.86
13.00
13.89
14.06
77,59
62.61
73.63
7.21
5.82
6.84
26.' 82
29.55
83)34.47
31.80
r!4.61
E>rl7.09
r!5.97
25.88
E>28.96
28.03
13.11
E>14.82
14.41
80.03
|H>84.39
74.04
H>7.84
r32.66
r31,14
P31.19
r!5.41
r!5.45
p!5.43
r27.65
r26.50
p27.10
r!3.33
r!3.53
p!3.73
79.71
84.26
75.12
January
February
March
26.75
29.54
26.15
13.10
14.60
13.11
April
May
June
25.88
23.81
23.10
13.54
11.74
11.13
July
August
September
23.81
22.70
24.34
October
November
December
..
9.64
9.30
10.21
10.29
9.99
10.60
90 '.20
82 '.88
74 '.is
70,' 76
1983
10.44
9.67
69.' 60
70.' 58
72.57
73.50
1984
January
February . . . . . . . .
March
April
May
June
July
August
September .
78.65
7.43
I®>p37'.09
[R)p92.41
6.88
7.41
7.83
6.98
(NA)
(NA)
October . . . . . . . . .
November
December
See note on page 60,
Graphs of these series are shown on pages 12, 23, and 24.
l
This is a copyrighted series used by permission; it may not be reproduced without written permission from McGraw-Hill Information Systems
Company, F.W. Dodge Division.
"Converted to metric units by the Bureau of Economic Analysis.
66
OCTOBER 1984
CYCLICAL INDICATORS
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued
MAJOR ECONOMIC
PROCESS . . . .
^f FIXED CAPITAL INVESTMENT-Continued
Minor Economic
Process
Timing Class
Year
and
month
Residential Construction
Commitments and Investment
Business Investment Expenditures
C, Lg, Lg
C, Lg, Lg
C, Lg, U
61. Business
expenditures
for new plant
and equipment,
total
69. Machinery
and equipment
sales and business
construction
expenditures
76. Index of
industrial production, business
equipment
(Ann. rate,
bil. dol.)
(Ann. rate,
bil. dol.)
(1967 = 100)
C, Lg, C
Lg, Lg, Lg
C, Lg, C
Nonresidentia 1 fixed investment ir 1972 dollars
86. Total
(Ann. rate,
bil. dol.)
87. Structures
(Ann. rate,
bil. dol.)
88. Producers'
durable equipment
(Ann. rate,
bil. dol.)
L, L, L
28. New
private housing
units started,
total
(Ann. rate,
thous.)
L, L, L
29. Index of
new private
housing units
authorized by
local building
permits
(1967-100)
L, L, L
89. Residential
fixed investment, total, in
1972 dollars
(Ann. rate,
bil. dol.)
1982
January
February
March
293.46
335.85
345.85
343.90
172.2
171.6
169.0
175.2
55.4
119.8
853
880
920
64.1
65.3
72.0
36,2
April
May
June
288 ! 04
329.13
335.67
329.55
164.9
159.9
156.7
16e!9
53^7
113.2
935
1,020
913
71.7
77.0
73.7
37^6
July
August
September
279iei
326.30
316.14
318.53
154.9
153.9
150.5
163.9
52^4
111.5
1,173
1,026
1,148
84.3
74.8
84.2
36^8
October
November
December
269^80
310.36
309.83
307.12
147.1
146.4
148.1
161.*5
5L9
m'j
1,156
1,355
1,296
92.8
99.3
109.1
4CL8
1983
January
February . . .
March
26l!?i
307.65
298.73
310.69
146.6
142.7
143.7
161.6
4916
112.5
1,632
1,706
1,592
115.6
117.6
120.5
46^2
April
May
June
26l!l6
308.89
302.96
327.25
146.9
147.7
150.2
16S'.3
4s!i
117\2
1,549
1,779
1,743
125.7
134.1
142,5
53^4
July
August
September
270!65
319.56
320.14
331.57
153.3
156.6
158,7
172.6
48 '.3
124 '.3
1,793
1,873
1,679
141.5
135.0
124.4
57^2
October
November
December
283'.96
325.11
339.42
354.91
161.3
164.1
167.3
184 !5
5l!i
133.1
1,672
1,730
1,694
133.3
133.2
129.4
5?!8
293^5
343.03
345.94
362.47
170.7
171.9
172.1
193.3
54.1
139*.2
1,980
0)2,262
1,662
145.3
B>153.6
139.5
6(L6
E>302.70
r358 57
r375 62
E>r385.72
173.5
176.5
r-181.1
202 9
56.8
146.0
2,015
1,794
1,877
142.0
141.0
142.8
60.8
July
August
September
a316.22
r372 44
p376.22
[H)pl49.7
rl,754
rl,539
pi, 676
126.4
121.6
116.3
[R>p61,2
October
November
December
a318.33
1984
January
February
March
April
May ,
June
(NA)
r!85 2
r!88 0
E)pl88.5
[H>p206.8
[H>p57.1
See note on page 60.
Graphs of these series are shown on pages 13, 24, and 25.
OCTOBER 1984
67
CYCLICAL INDICATORS
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued
MAJOR ECONOMIC
PROCESS
H|
Minor Economic
Process
Timing Class
Year
and
month
INVENTORIES AND INVENTORY INVESTMENT
Inventories on Hand and on Order
Inventory Investment
L, L, L
L, L, L
L, L, L
L,L, L
30. Change in
business inventories in 1972
dollars
36. Change in inventories on
hand and on order, 1972 dollars
31. Change
in book value
of mfg. and
trade inventories, total
38. Change
in stocks of
materials and
supplies on
hand and on
order, mfg.
Monthly
data
Smoothed
data 1
(Ann. rate,
bil. dol,)
(Ann, rate,
bil. dol.)
(Ann. rate,
bil. dol.)
January
February
March
-6\7
-26.80
-23.28
-5.68
-10.17
-17.89
-20.44
-28.7
-18.7
April
May
June
-i!6
-9.73
-31.19
-5.84
-15.74
-14.22
-15.56
-52.7
July
August
September
-e!i
-4.46
-24.55
-9.04
October
November
December
-24,'e
(Ann. rate,
bil. dol.)
(Bil. dol.)
LE, Lg, Lg
Lg, Lg, Lg
Manufacturing and trade
inventories
71. Book
value
(Bil. dol.)
70. Constant
(1972) dollars
(Bil. doi.)
Lg, Lg, Lg
Lg, Lg, Lg
L, Lg, Lg
65. Manufacturers' inventories of
finished
goods, book
value
77. Ratio,
constantdollar inventories to
sales, mfg.
and trade
78. Stocks of
materials and
supplies on
hand and on
order, mfg.
(Bil. dol.)
(Ratio)
(Bil. dol.)
1982
-2.27
-2.71
-1.89
521.24
519.67
519.42
268.00
267.06
266.85
89.30
90.07
90.03
1.77
1.73
1.72
214.45
211.74
209.85
13.8
-1.82
-2.08
-3.67
521.40
517.01
518.16
267.45
265.30
265.53
89.42
88.58
87.71
1.74
1.71
1.74
208.03
205.95
202.28
-14.71
-12.72
-12.15
2.8
-23 ,,6
-18.3
-2.16
-2.35
-2.20
518.39
516.42
514.90
265.85
264.88
264.38
88.14
88.03
87.49
1.74
1.74
1,74
200.11
197.76
195.56
-19.56
-36.52
-19.96
-15.20
-19.71
-23.53
-19..2
-66 ,.8
-26. .2
-1.72
-1.81
-0.92
513.30
507.73
505.55
263.25
260.61
259.40
87.18
85,98
85.02
1.76
1.72
1.72
193.85
192.04
191.12
-13.50
-24.34
-16.73
-9.33
-40,0
0.08
0.97
0.69
502.21
503.04
499.37
257.82
257.60
256.06
83.84
83.63
82.34
1.67
1.68
1.65
191.19
192.16
192,85
-5.94
-1.73
10.7
2.02
-5.0
0.13
1.16
1,58
500.26
501.04
500.62
255.89
256.22
255.65
82,08
82.10
81.88
1.64
1.60
1.56
192.98
194,13
195.72
1.64
1.64
501.38
504.28
506.98
255,86
256.31
256.78
82.23
82.14
81.72
1.57
1.57
1.56
197.36
200.27
201.91
-3.0
23.7
1983
January . ,
February . . .
March
-16\5
3.06
-15,16
April
May
June
-e!i
2.08
12.73
-2.32
10.0
-44.1
9.3
16.86
16.97
13.01
13.06
34.9
32.4
26.2
27.4
34.6
2.47
1.77
2,44
509.17
511.45
514.34
257.29
258.06
259.02
81.54
81.72
80,87
1.55
1.53
1.51
204.38
206.15
208.59
44.7
2.86
2.71
2.42
518.06
527.22
532.77
260.17
263.23
265.12
80.77
81.87
82.87
1.50
1.53
1.54
211.45
214.16
216.59
2.28
2.55
541.06
545.91
546.83
267.93
270.03
270.03
84,06
85.30
86.54
1.54
1.52
1.51
218.87
221,42
220.44
r551.37
[R>p555.98
r272.14
(H>p273.99
r87.26
[H)p88.83
1.54
i>pl.55
[H)r222.85
" p221.93
6.63
9.80
July
August . .
September
6,*9
October
November
December
1\2
18.91
18.14
15.34
15.96
16.49
17.08
E>3L6
28.30
[H>46,84
25.49
19.03
25.38
31.85
2CL3
38.32
r34.76
r-11.16
E>35.21
r34.87
r26.75
99.5
58.2
11.1
-0.98
r27.58
p!4.33
r!8.85
p!3.66
r54.4
p55.3
r2.40
p-0.91
(NA)
(NA)
9.2
0)2.92
1984
January
February
March
April
May
Juna
July
August
September
p3i!z
CNA)
(NA)
1)109.8
66.6
CNA)
CNA)
(NA)
(NA)
October
November
December . . . .
See note on page 60.
Graphs of these series are shown on pages 13, 15, 26, and 27.
l
This series is a weighted 4-term moving average (with weights 1,2,2,1) placed on the terminal month of the span.
68
OCTOBER 1984
(NA)
CYCLICAL INDICATORS
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued
MAJOR ECONOMIC
PROCESS
J 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)
I L, L
U, I, L
23. Index of
spot market
prices, raw
industrials 1
<S>
(1967 = 100)
L, L, L
99. Change in sensitive materials
prices
Smoothed
data 2
Monthly
data
(Percent)
(Percent)
19- Index of
stock prices,
500 common
stocks (g)
(1941-43-10)
Profits and Profit Margins
L, L, L
L, Lr L
Corporate profits after taxes
16, Current
dollars
18. Constant
(1972) dollars
L, C, L
L, C, L
Corporate profits after taxes
with 1VA and CCAdj 3
79. Current
dollars
80. Constant
(1972) dollars
(Ann. rate,
bil. dol.)
(Ann. rate,
bil, dol.)
(Ann. rate,
bil. dol.)
(Ann. rate,
bil. dol.)
L, L, L
22. Ratio,
profits (after
taxes) to total
corporate
domestic
income
(Percent)
1982
January
February , . .
March
April
May
June
.
-0.21
-1.61
-0.62
263.4
261.0
254.5
-0.22
-1.10
-1.06
-1.06
-0.82
-0.76
117.28
114,50
110.84
104!?
5K2
97*.6
47*.6
5*. 7
-0.62
-0.22
-0.63
247.4
245.5
232.2
-1.16
-0.32
-1.96
-0.95
-0.98
-1.00
116.31
116.35
109.70
ioe!9
5l!?
9&\8
4?!s
5*.7
0.11
237.0
236.2
239.0
0.65
-0.88
-0.84
-0.64
-0.32
109.38
109.65
122.43
10716
5i!s
ioi!i
48^7
5\7
132.66
138.10
139.37
100 ! 8
48!l
96\6
46! i
5*.3
0.09
-0.10
-0.28
-0.33
1.50
-0.07
144.27
146.80
151.88
102! 6
48.*9
12Cl!6
57^3
sis
1.34
0.91
157.71
164.10
166.39
123^4
58".9
14K9
67*.9
e'.a
142! 6
67^9
16CK2
76\5
7\l
141 !l
eeii
175!<5
83!6
6\9
H>7i!6
184^7
87*. 5
?!i
H>195.2
(H>92!i
B>7.1
July
August
September
-1.48
October
November
December
-0.15
-0.26
0.26
0.90
235.5
230.4
227.4
0.51
-0.51
-0.79
1983
January
February
March .
1,68
E>2.75
2.00
April
May
June
-0.18
1.76
2.55
232.1
241.3
248.8
0)2.58
1.93
0.83
1.70
H>1.83
253.2
251.5
250.5
0.44
0.70
1.22
0.86
1.62
0,21
0.86
1.08
1.06
166.96
162.42
167.16
July
August
September
-0.20
256.0
265.2
267.9
October
November
December
0.96
1.12
0.81
273.4
279.8
282.4
1.09
1.29
0.70
0.94
0.92
0.94
E>167.65
165.23
164.36
-0.94
283.6
283.6
289.2
-0.37
0.78
0.43
0.35
166.39
157.25
157.44
E>150'.6
0.40
0.27
150.2
70.3
-0.13
157.60
156.55
153.12
-0.64
-1,05
-1.06
151.08
164.42
166.11
(NA)
(NA)
0.37
1.14
1984
January
February
March
1.17
0.74
April ,
May
June
-0.54
r-0.55
r-0.61
288.6
ED289.5
286.2
-2.18
-1.40
280.1
275.6
274.0
July
August
September
0.88
October . . . .
November
December
"266.7
0,61
0.93
-0.32
-0.20
-0.65
-1.79
-1.20
0.29
S
(NA)
(NA)
(NA)
163.97
See note on page 60.
Graphs of these series are shown on pages 13, 28, and 29.
lr
This is a copyrighted series3 used by permission; it may not be reproduced without written permission from Commodity Research Bureau, Inc.
See footnote 1 on page 68.
IVA, inventory valuation adjustment; CCAdj, capital consumption adjustment.
"Average for October 1-23.
5
Average for October 3, 10, 17, and 24.
a
OCTOBER 1984
69
CYCLICAL INDICATORS
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued
MAJOR ECONOMIC
PROCESS
^J PRICES, COSTS, AND PROFITS-Continued
Minor Economic
Process
Timing Class
Year
and
month
U, L, L
1, L, L
81, Ratio,
profits (after
taxes) with IVA
and CCAdj to
corp, domestic
income '
15. Profits (after
taxes) per dollar
of sales, all
manufacturing
corporations
(Percent)
(Cents)
L, L, L
Unit Labor Costs and Labor Share
Cash Flows
Profits and Profit Margins-Continued
L, L, L
L, L, L
26. Ratio, price
Net cash flow, corporate
to unit labor
cost, nonfarm
business sector 34. Current
35. Constant
dollars
(1972) dollars
(1977-100)
(Ann. rate,
bil.dol.)
(Ann. rate,
bil. dol.)
Lg, Ig, 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)
(1967-100)
Lg- Lg, Lg
Lg, Lg, Lg
62. Index of labor cost per
unit of output, manufacturing
Actual data
Actual data
as a percent
of trend
64, Compensation of employees as a percent
of national
income
(Percent)
(Prcent)
1982
January
February
March
,. .
s.'i
3.*9
96*8
249*4
118*4
150.0
1.372
225.8
223.3
223.5
104,9
103.2
102.6
75 .'7
April
May
June
5*2
3.*6
96.4
259*6
121.'6
153*4
1.395
226.5
228.2
228.5
103.4
103.5
103.0
76*0
July
August
September , . , , , . .
5'.3
3.'S
96*6
266.' 6
124*3
ISS.'s
1.404
226.9
226.2
226.4
101,7
100.8
100.3
76*5
October
November
December . ,
5*6
2.S
95*6
266,'?
123*4
155*9
1.419
227.9
229.0
229,1
100.3
100.2
76.'5
99.6
1983
January
February
March
6.*S
sis
96.4
280 1 6
130 .'9
156*8
H>1.42i
227,4
225.6
223.9
98.3
96.9
95.6
76*6
7*.5
4.'6
97*9
310*5
146*2
155.4
1.408
221,9
220.4
219.0
94,2
93,0
91.9
75*2
July
August
September
8*1
4.2
98.7
339 .'6
159.'2
ISS.'i
1.466
216.4
214.7
214.4
90.2
89.0
88.3
74.*5
October
November . .
December . ,
8*9
4,5
9B.B
345.' 6
160.*9
156.8
1.408
215.0
217.1
219.2
88.0
88.4
88,7
?4.*3
9*1
4.*9
98*7
360.' 4
167*5
(H>157.'7
1.415
218.4
218.5
218.7
87.8
87.3
86.9
73*5
E>p4.9
|H>r99.8
E)366.7
[H>169.3
r!56.5
1.414
218.9
218.1
217.0
86.4
85.6
84.7
73.3
(NA)
p99!?
p!57*6
(NA)
April
May
June
,
,.
1984
January
February
March
April
May
June
fi>9l6
July
August
September
(NA)
(NA)
(NA)
215.6
r216.3
p216.9
83.6
r83.4
pSS.l
October
November
December
See note on page 60.
Graphs of these series are shown on pages 15, 29, and 30.
1
IVA, inventory valuation adjustment; CCAdj, capital consumption adjustment.
70
OCTOBER 1984
(NA)
CYCLICAL INDICATORS
B
I
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued
MAJOR ECONOMIC
PROCESS
199 MONEY AND CREDIT
Minor Economic
Process
Timing Class
Year
and
month
Money
L, L, L
85. Change in
money supply
Ml
102. Change
in money
supply M2
104. Change in total liquid assets
Smoothed
data 1
Monthly
data
(Percent)
(Percent)
L, 1, L
L, L, L
L, C , U
(Percent)
Credit Flows
Velocity of Money
(Percent)
L,L,L
105, Money
supply Ml
in 1972
dollars
106. Money
supply M2
in 1972
dollars
(Bil. dol.)
(Bil. dol.)
C, Lg, C
L, L, L
108. Ratio,
personal income
to money supply
M2
33. Net change
in mortgage debt
held by financial
institutions and
life insurance
companies
(Ann. rate,
bil.dol.)
C.C.C
107. Ratio,
gross national
product to
money supply
Ml
(Ratio)
(Ratio)
1982
6.742
1.390
1.398
1.393
810.4
809.2
805.7
6.785
1.392
1.386
1.379
-7.61
194.6
196.1
198.5
806.8
812.8
819.6
6.724
1.380
1.366
1.358
-5.03
-5.84
-13.14
0.87
0.82
0.71
200.6
203.2
205.6
822.9
830.1
841.0
6.537
1.357
1.359
1,352
-50.09
-7.82
-46.81
1.07
0.74
0.81
0.92
0.89
0.87
199.3
197.8
198.0
0.67
0.80
0.63
0.89
0.88
0.98
0.84
0.84
0.89
198.2
197.0
195.3
0.18
1.02
1.27
0.66
1.01
0.88
0.93
0.81
0.84
0.92
0.92
0.88
1.45
1.32
0.86
0.77
0,88
1.01
0.98
0,45
0.56
0.96
1.24
1.08
|H>2.66
-0.49
-0.04
0.98
0.21
0.50
April
May
June
0.42
0.38
0.18
July
August
September
October
November
December
January .
February
March
.. .
1.90
803.0
802.7
807.8
36.72
18.02
4.75
10.64
4.73
1983
1.81
0.65
0.83
0.70
0,72
0.85
0.93
207.0
209.7
211.8
860.7
876.9
882.0
6.465
1.318
1.293
1.292
45.85
34.37
-40.55
0.96
0.78
0.99
0.89
0.82
0.86
211.0
213.7
215.1
882.2
886.9
891.3
6.468
0.85
0.70
0.98
0.70
1.294
1.292
1.292
-32.22
31,43
July
August
September
0.78
0.49
0.29
0.45
0.41
0.59
0.88
0.50
0.74
0.90
0.84
0.75
216.0
216.2
216.1
892.1
892.4
894.4
6.472
1.291
1.293
1.297
65.16
71.27
October
0.52
0.27
0.44
0.90
0.69
0.65
0.52
0.99
0.65
0.67
rO.79
898.9
901.8
905.5
6.558
rl.OO
216.3
216.1
216.6
1.299
1.299
1.302
62.30
75.52
rllO.15
January . , .
February
March
0.89
0.55
0.41
0.48
0.72
0.33
rO.71
0.87
0.94
1.29
HK89
rO.93
217.2
217.6
218.0
904.2
907.4
908.3
6.670
1.313
1.315
1.319
r82.34
81.96
110.14
April
May
June
0.04
1.06
0.96
0.57
0.70
0.60
rO.78
rO.94
rl.23
rO.99
rl.OO
rO.99
217.1
218.9
E>220.7
909.4
914.0
918.0
6.739
1.324
1.319
1.323
r!33.85
(H>rl42.00
rll5.33
-0.11
rO.13
pO.49
rO.41
rO.39
pO,66
pi. 03
K>pl.02
219.8
r219.1
P219.4
919.1
r918,6
[H)p921.4
1.327
rl.330
Dpi. 332
pll8.36
DP6.766
January
February , .
March
April
May
June
0.30
E>1.75
.
November
December
B>1.34
3.82
5.84
1984
July
August
September
2
October
November
December
(NA)
(NA)
(NA)
-0,02
See note on page 60.
Graphs of these series are shown on pages 13, 31, and 32.
lr
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 1, 8, and 15.
OCTOBER 1984
71
CYCLICAL INDICATORS
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued
MAJOR ECONOMIC
PROCESS
Ql MONEY AND CREDIT - Continued
Minor Economic
Process
. ..
Timing Class
Year
and
month
Credit Flows—Continued
ILL
U, L
L, Lr L
112. Net change 113. Net
in business
change in
loans
consumer installment
credit
(Ann. rate,
bil. dol.)
Credit Difficulties
(Ann. rate,
bil. dol.)
111. Change
in credit outstandingbusiness and
consumer
borrowing
(Ann. rate,
percent)
L.L.L
L, L, L
110. Total
private
borrowing
14. Current
liabilities
of business
failures ©
(Ann. rate,
mil. dol.)
(Mil. dol.)
Bank Reserves
L, U, U
ILL
39. Delinquency
rate, 30 days
and over, consumer installment loans
93. Free
reserves ®
(Percent)
Interest Rates
L, Lg, U
94. Member
bank borrowing from the
Federal
Reserve ®
(Mil. dol.)
(Mil. dol.)
C, Jg, LR
U Lg, U
119. Federal
funds rate ©
(Percent)
114. Treasury
bill rate ©
(Percent)
1982
January
February
March
77.99
61,63
24.17
5.00
2.00
7.60
April
May
June
64.98
44.36
29.44
19.48
22.13
24.28
3.13
2.54
10.07
July
August
September
October
November . . . . . . .
December
3.07
246,632
645.14
913.46
836.01
2.48
2.39
2.24
-1,101
-1,414
-1,254
1,526
1,713
1,611
13.22
14.78
14.68
12.41
13.78
12.49
6 8
4 8
3 0
1,309.33
2,850.45
1,020.25
2.20
2.21
2.16
-1,307
295 528
-745
-895
1,581
1,105
1,?05
14.94
14.45
14.15
12.82
12.15
12 11
-2 2
-0 2
0 8
1,425.60
2 759 58
1 024 66
2.19
ocp ppA
-378
-199
-592
669
510
976
12.59
10 12
10 31
11.91
9 01
8 20
455
579
697
9 71
7 75
9.20
8.04
8 95
8 01
500
557
852
8 68
8 51
8 77
7 81
8 13
8 30
993
902
1 714
8 80
8 63
8 25
8 19
8 ft?
10.7
8 2
3 o
14.87
15.07
11 80
-64.49
-62 64
-1 57
24.18
29 02
38 41
-4 84
11 70
31 14
0 26
35 24
8
0
n
A
-^fi n?
?4 4Q
fi
f\
-47 33
27 26
a
7
5
0
i poo fi4
-3 1
-5.3
4 1
275,268
733.27
mon
2 21
2 19
2 24
-51
2.23
-177
-197
2 18
1983
January
February
March
April
May ,
June . .
4 1ft
July
August
September
-9
RQ
8
19
C
Cfl
e en
October
November
December
46
Q-3
44 47
4Q 1 9
on fiA
£1
1 p
on (\y
CT
QO
C1
fid
*5R
"3C
1
0
n
8
8. 0
Q
(NA)
f) C O 1 A O
389, 164
***
384 , 480
1.0
8 r
.b
in 7/
1U.
.[H)527,176
13.3
46
2.24
2 23
2 22
-122
-415
2 07
2 00
1 92
-517
-453
-1 234
1 95
-875
1 1 97
1 QH
8
Qft
1 382
q 0.7
q ip
1 ^73
9
9
9 ^q
9 AC
EC
i ftft
Q/10
1 01
oop
007
1 fl£
OQO
1 Qd
1 9/1
Q1 9
7/1 c
1 84
1 no
-lUd
71 E
9
375
cfi7
nco
9.59
9.91
9.03
9.44
1 234
2 988
3 300
10 29
10. 32
11.06
9 fiQ
9 on
5 924
0)8 017
n7 74?
11 23
[R}11 64
11 30
10 13
i AAl
AK
9 48
9 04
9 /L7
8
8
8
7i
71
qc
1984
January
February
March
April
May
June .
r-17 78
r cc
on
ftfSHIQ pp
r90 92
r69 83
r!04 38
July
August , . . .
September
r39 17
rll 57
p38 03
53 63
79 30
70 44
-}£.
OH.
fu\ipp on
93 90
85 27
71 98
(NA)
rft 1
„•( C O
ono /I7C
y,pn 7
HQ ft
fHV?1 Q
r22 1
r!4 1
10 1
p!2 4
October . . . .
November . . . . . . .
December
ISS1 7ft
oc
n4ft° °ftO,
I. ob
-243
2 06
1 96
2 02
7/i/t
? 41 1
(NA)
fNfli
\IMrtJ
p
COO
-5 317
fj-jV_7 334
p-6 618
S en
ee
9.94
fin) 10 49
1
10 22
See note on ptge 60,
Graphs of these series are shown on pages 13, 32, 33, and 34.
*Avorago for weeks ended October 3, 10, 17, and 24.
Average for weeks ended October 4, 11, 18, and 25.
2
72
OCTOBER 1984
10 41
2
9 96
CYCLICAL INDICATORS
B
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued
MAJOR ECONOMIC
PROCESS
|2 MONEY AND CREOIT-Continued
Minor Economic
Process
Timing Class
Interest Rates— Continued
Lg, Lg, Lg
Year
and
month
C, Lg, Lg
U, Lg, Lg
Lg- Lg, Lg
Outstanding Debt
Lg, Lg, Lg
116. Corporate 115. Treasury 117. Municipal 118. Secondary 67. Bank rates
bond yields (u) bond yields (u) bond yields (g) market yields
on short-term
on FHA
business loans
mortgages (u) ©
(Percent)
(Percent)
(Percent)
(Percent)
(Percent)
Lg, Lg, Lg
109. Average
prime rate
charged by
banks (u)
(Percent)
Lg, Lg, Lg
66. Consumer
installment
credit
Lg, Lg, Lg
(Mil. dol.)
Lg, Lg, Lg
101. Constant
(1972) dollars
95. Ratio,
consumer installment credit
to personal
income
(Mil. dol.)
(Percent)
Commercial and industrial
loans outstanding
72. Current
dollars
(Mil. dol.)
Lg, Lg, Lg
1982
January
February
March
16.34
16.35
15.72
13.73
13.63
12.98
13.28
12.97
12.82
17.38
17.10
16.41
17*13
15.75
16.56
16.50
332,197
333,227
333,574
254,352
259,488
261,502
101,538
103,505
104,517
13.17
13.11
13.11
April
May
June
15,62
15.37
15.96
12.84
12.67
13.32
12.59
11.95
12.45
16.31
16.19
16.73
Ij'.ll
16.50
16.50
16.50
335,225
336,804
338,475
266,917
270,614
273,067
106,681
107,943
108,662
13.09
13. 10
13.16
July
August
September
15.75
14.64
13.78
12.97
12.15
11.48
12.28
11.23
10.66
16.29
14.61
14.03
13.27
16.26
14.39
13.50
338,994
339,306
340,415
273,328
273,540
274,779
108,377
108,505
109,343
13.08
13.09
13.09
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
341,293
342,852
348,944
275,762
270,388
265,168
109,560
107,254
105,017
13.04
12.96
13.14
January
February
March
12.04
12.11
11.81
10.37
10.60
10.34
9.50
9.58
9.20
12.87
12.65
12.68
10. *20
11.16
10.98
10.50
351,539
351,561
354,498
268,369
267,966
268,941
106,580
106,083
106,553
13.22
13.23
13.27
April
May
June
11.58
11.24
11.90
10.19
10.21
10.64
9.05
9.11
9.52
12.50
12.41
12.96
loisi
10.50
10.50
10.50
356,539
358,811
362,672
265,939
261,995
262,360
105,364
103,514
103,332
13.24
13.21
13.26
July
August
....
September
12.46
12.89
12.68
11.10
11.42
11.26
9.53
9.72
9.58
14.23
13.78
13.55
11*09
10.50
10,89
11.00
366,378
370,471
373,024
262,144
262,871
262,409
102,963
102,764
102,383
13.35
13.42
13.39
October
November
December
12.54
12.86
12.87
11.21
11.32
11.44
9.66
9.75
9.89
13.23
13.23
13.25
10*95
11.00
11.00
11.00
378,117
382,936
388,718
262,875
264,543
268,823
102,326
103,136
104,600
13.43
13.51
13.59
12.65
12.80
13.36
11.29
11.44
11.90
9.63
9.64
9.93
13.08
13.20
13.68
11.' 06
11.00
11.00
11.21
393,187
399,795
405,665
r267,341
r271,949
r 28 1,884
r!03,380
r!04,838
r!07,960
13.57
13.68
13.80
13,64
14.41
(ED14.49
12.17
12.89
D13.00
9.96
10.49
(R>10.67
13.80
H>15.01
14.91
12*45
11.93
12.39
12.60
412,073
422,306
430,131
r289,461
r295,280
r303,978
rllO,735
rl!2,918
r!16,244
13.88
14.18
14.31
14.25
13.54
13,37
12.82
12.23
11.97
10.42
9.99
10.10
14,58
,£14*21
13.99
E>13*29
13.00
E>13.00
12.97
rl!7,268
r307,242
437,237
rl!8,087
H> 443, 235
r308,206
(NA) E>p311,375 E>pll9,806
14.45
|H>pl4.56
(NA)
October
November
December
. ..
1983
1984
January
February
March
April
May
June
July
August
September
1
October
November
December
13.16
1
11.81
2
10.31
3
12.66
See note on page 60.
Graphs of these series are shown on pages 15, 34, and 35.
1
Average for weeks ended October 5, 12, and 19.
2
Average for weeks ended October 4, 11, and 18.
3
Average for October 1 through 26.
OCTOBER 1984
73
CYCLICAL INDICATORS
C I
DIFFUSION INDEXES AND RATES OF CHANGE
Qj DIFFUSION INDEXES
950. Twelve leading
indicator components
(series 1, 5, 8, 12, 19,
20, 29, 32, 36, 99, 106,
111)
Year
and
month
952. Six lagging
indicator components
(series 62, 77, 91,
95, 101, 109)
951. Four roughly
coincident indicator
components (series
41, 47, 51, 57)
1-month
span
6-month
span
1-month
span
6-month
span
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
66.7
37.5
37.5
66.7
50.0
45.8
25.0
75.0
0.0
25.0
0.0
0.0
58.3
41.7
58.3
58.3
58.3
62.5
50.0
41.7
62.5
25.0
0.0
12.5
0.0
0.0
0.0
75.0
58.3
66.7
83.3
87.5
91.7
0.0
50.0
75.0
75.0
70.8
66.7
100.0
100.0
100.0
87.5
70.8
87.5
961. Average workweek
of production workers,
manufacturing (20
industries)
963. Number of «mployees on privatu
nonagricultural payrolls
(186 industries)
962. Initial claims for
State unemployment
insurance, week including the 12th1
(51 areas)
9-month
span
1-month
span
9-month
span
1-month
span
6-month
span
5,0
95.0
25.0
7.5
30.0
25.0
96.1
24.5
5.9
11.8
31.4
43.1
27.6
47,6
35.7
19.2
22.2
21.9
33.3
33.3
33.3
22.5
65.0
70.0
20.0
20.0
82,5
62.7
68.6
19.6
15.7
23.5
9.8
31.1
41.1
33.5
24.6
20.3
21,4
33.3
50.0
33.3
33.3
16.7
16.7
37.5
42.5
35.0
35.0
65.0
82.5
67.6
9.8
17.6
17,6
72.5
82.4
34.6
32.4
37.3
21.4
18.6
23.2
50.0
50.0
75.0
16.7
0.0
16.7
0.0
8.3
16.7
52.5
80.0
62.5
57.5
85.0
97.5
88.2
60.8
76.5
71.6
66.7
84.3
28.9
32.4
45.7
27.3
29.5
35.4
100.0
25.0
100.0
100.0
100,0
100.0
33.3
50.0
25.0
16.7
16.7
16.7
77.5
12.5
100,0
90.0
90.0
80.0
68.6
57.8
35.3
98.0
96.1
100.0
54.3
46.5
60.8
50.8
63,0
69.2
91.7
100.0
91.7
87.5
100.0
100.0
100.0
100.0
100.0
25.0
8.3
25.0
16.7
16.7
33.3
90.0
30.0
85.0
85.0
95.0
95.0
80'. 4
48.0
78.4
84.3
90.2
92.2
68.9
69.5
64.6
75,1
80.0
82.4
62.5
62.5
66.7
91.7
83.3
66.7
75.0
75.0
100.0
100.0
100.0
100.0
58.3
58.3
16.7
33.3
41.7
66.7
70.0
62.5
92.5
95.0
95.0
92.5
70.6
7.8
96.1
88.2
94,1
80.4
74.3
68.6
69.5
84.1
82.4
84.6
75.0
45.8
62.5
r83.3
83,3
79,2
100.0
100.0
100.0
100.0
100.0
100.0
41.7
58.3
75.0
r66.7
66.7
66.7
40.0
62.5
55.0
95.0
85.0
92.5
58.8
35.3
60.8
84.3
86.3
68.6
75.4
69.7
73.8
85.9
86.8
83.8
58.3
70.8
50.0
75.0
70.8
r62.5
100.0
75.0
100,0
100.0
100.0
100.0
8.3
75.0
75.0
66.7
66.7
75.0
77.5
50.0
22.5
80.0
30.0
r32,5
36.3
72.5
68.6
76.5
r90.2
r56.9
71.1
73.2
67.0
81.9
82.7
79.7
58.3
41.7
r29.2
r33.3
33.3
a
27.3
100.0
100.0
100.0
100.0
100.0
3
100.0
75.0
66.7
50.0
83.3
83,3
"75.0
87.5
7.5
37.5
r25.0
pSO.O
43.1
29.4
r92.2
p64.7
(NA)
63.8
64.1
63.0
75.4
70.5
p62.2
1-month
span
6-month
span
1-month
span
1982
January
February
March
. ,
April
May
June
. ,
July
August
September
. .,
October
November
December
1983
January
February
March
,
April
May
June
,
July
August , .
September ,
..
October
November
December
1984
January
February .
March
April
May
June
July
August , .
September
2
25.0
41,7
54.5
3
75.0
87.5
66.7
83.3
75.0
"50.0
r37.5
r52.5
p66.0
r21.6
pSl.O
(NA)
r62.4
57.3
p38.9
October
November . . . . . . .
December
NOTE: Figures are the percent of series components rising. (Half of the unchanged components are counted as rising.) Data are centered within the spans: 1-month indexes are placed on the 2d month, 6month indexes on the 4th month, and 9-month indexes on the 6th month of the span; 1-quarter indexes are placed on the 1st month of the 2d quarter and 4-quarter indexes on the 2d month of the 3d quarter.
Series are seasonally adjusted except for those, indicated by(u), that appear to contain no seasonal movement. Series numbers are for identification only and do not reflect series relationships or order, Complete titles and sources are listed at the back of this issue. The "r" indicates revised; "p", preliminary; "e", estimated; "a", anticipated; and "NA", not available.
Graphs of these series are shown on page 36.
^Figures are the percent of components declining.
2
Excludes series 36, for which data are not available.
3
Exeludos series 57, for which data are not available.
^Excludes series 77 and 95, for which data are not available.
74
OCTOBER
1984
ItCII
CYCLICAL INDICATORS
DIFFUSION INDEXES AND RATES OF CHANGE—Continued
Q| DIFFUSION INDEXES-Continued
Year
and
month
964. Value of manufacturers' new orders,
durable goods industries (34 industries)
1-month
span
965. Newly approved
capital appropriations,
deflated (17 manufacturing industries)
9-month
span
1-quarter
span
966. Index of industrial
production (24
industries)
967. Index of spot
market prices, raw
industrials (u)
(13 industrial materials)
968. Index of stock
prices, 500 common
stocks ' (g)
960, Net profits,
manufacturing 2 @
(about 600 companies)
4-Q moving
average
1-month
span
6-month
span
12.5
33.3
42.3
34.6
38.5
15.4
30.8
26.9
10.6
34.6
28.8
34.6
42.3
38.5
*50
'40
33.3
75.0
31.3
41.7
37.5
33.3
30.8
34.6
23.1
26.9
19,2
19.2
88.5
54,8
11.5
18.0
56.0
79.6
'53
*52
20.8
41,7
54.2
60.4
52.1
41.7
33.3
25.0
37.5
61.5
53.8
61.5
26.9
15.4
23.1
52.9
26.5
100.0
87.8
87.8
89.8
*58
'50
45.8
60,4
75.0
46.2
30.8
46.2
50.0
57.7
65.4
98.0
85.7
51.0
89.8
98,0
'57
25.0
33.3
41.7
79,2
87.5
91.7
61.5
76.9
57.7
80.8
61,5
57.7
63.3
59.2
73.5
100.0
*56
75.0
58.3
75.0
91.7
95.8
95.8
65.4
46.2
46.2
80.8
96.2
88.5
81.6
91.8
65.3
89.8
87.5
86.5
*74
*52
83.3
91.7
79.2
'59
87.5
83.3
75.0
95.8
91.7
81.3
57.7
73.1
57.7
88.5
80.8
73,1
52.0
30.6
85.4
91,5
80.9
72.3
83
p59
62.5
56.3
70.8
79.2
83.3
87.5
69.2
76.9
42.3
80,8
80.8
73.1
47.9
57.4
61.7
38.3
40.4
34,0
'si
87.5
79.2
68.8
89.6
91.7
83.3
38.5
61.5
65.4
73.1
65.4
42.3
52.1
10.6
60.6
41.5
25.5
58.7
62.5
64.6
70.8
81.3
r62.5
p66,7
50.0
50.0
42,3
34.6
30.8
43.6
36.2
36.2
30.4
37.0
1-month
span
9-month
span
1-month
span
9-month
span
(4-quarter span)
1982
January
February
March
35.3
52.9
38.2
20.6
20.6
35.3
53
April ,
May .
June
38.2
58.8
32.4
23.5
23.5
38.2
24
July
August
September
47.1
27.9
67.6
26.5
26.5
52.9
53
October
November
December
35.3
70.6
44.1
39.7
50.0
73.5
77
January
February
March
67.6
52.9
55.9
88.2
88.2
83.8
April
May
June
70.6
73.5
67.6
86.8
88.2
88.2
53
July
August
September
47.1
58.8
64.7
91.2
88.2
85.3
50
October
November
December
64.7
67.6
55.9
94.1
91.2
88.2
59
January
February
March
61.8
47.1
55.9
85.3
73.5
82.4
71
April
May
June
29.4
67.6
35.3
70.6
p56
p54.4
0.0
*66
100.0
1983
45
98.0
93.9
"ll
1984
July
August
September
58.8
r44.1
p41.2
(NA)
(NA)
r75.0
r50.0
p39.6
34.6
46.2
46.2
3
October
November
December
3
30.8
(NA)
34.8
9-3.5
73.9
30.8
See note on page 74.
Graphs of these series are shown on page 37.
1
Based on 52 industries through August 1982, on 50 industries in September 1982, on 49 industries through August 1983, on 48 industries
through October 1983, on 47 industries through June 1984, and on 46 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 H Bradstreet, Inc.
3
Based on average for October 2, 9, 16, and 23.
OCTOBER 1984
75
B
CYCLICAL INDICATORS
DIFFUSION INDEXES AND RATES OF CHANGE—Continued
Qj DIFFUSION INDEXES-Contimied
Year
and
quarter
a. Actual
expenditures
(1-Q span)
b. Later
anticipations
c. Early
anticipations
(1-Q span)
(1-Q span)
(4-Q span)
(4-Q span)
(4-Q span)
Actual
Anticipated
Actual
Anticipated
Actual
973. Net sales, manufacturing
and trade l <g)
972. Net profits, manufacturing
and trade 1 ®
971. New orders, manufacturing ' (g)
970. Business expenditures for new plant and
equipment (21 industries)
Anticipated
(4-Q span)
(4-Q span)
(4-Q span)
1981
first quarter . . . . . .
Second quarter
Third quarter
Fourth quarter . . . .
57.1
61.9
33.3
61.9
81.0
54.8
85.7
38,1
66.7
76.2
52.4
47,6
47.6
26.2
23.8
21.4
23.8
57.1
66.7
71.4
69,0
69.0
68
70
62
62
74
74
76
76
60
66
60
60
70
69
74
72
70
74
71
68
78
76
80
80
52
50
52
56
60
68
64
60
53
52
52
54
61
66
66
60
63
58
57
60
65
70
72
65
66
74
78
84
66
77
82
85
62
66
71
74
64
73
80
81
66
74
74
80
68
78
84
86
90
86
88
91
90
88
80
79
84
86
88
84
85
84
88
90
90
88
1982
First quarter
Second quarter
Third quarter . . . . .
Fourth quarter . . . .
33.3
57.1
1983
First quarter
Second quarter . . . .
Third quarter
Fourth quarter . . . .
38.1
57.1
52.4
38.1
76.2
40.5
90,5
38.1
66.7
81.0
81.0
76.2
76.2
78.6
61.9
54.8
1984
First quarter
Second quarter . . . .
Third quarter
Fourth quarter . . . .
71.4
(NA)
76.2
66.7
78.6
(NA)
61.9
(NA)
(NA)
Qj DIFFUSION INDEXES-Continued
Vftar
Tear
and
quarter
974. Number of employees,
manufacturing and trade l <g)
975. Level of inventories,
manufacturing and trade l ®
Actual
Actual
Anticipated
(4-Q span)
(4-Q span)
Anticipated
(4-Q span)
(4-Q span)
976. Selling prices, manufacturing ' <g)
Anticipated
Actual
(4-Q span)
(4-Q span)
977. Selling prices, wholesale
trade ' ®
978. Selling prices, retail
trade ' <g)
Actual
Actual
Anticipated
(4-Q span)
(4-Q span)
Anticipated
(4-Q span)
(4-Q span)
1981
First quarter
Second quarter . . . .
Third quarter
Fourth quarter
51
53
52
52
56
54
56
55
62
64
62
63
63
61
66
64
88
86
84
82
88
90
89
84
90
88
84
82
90
89
89
84
94
90
86
86
90
90
92
87
48
46
46
46
50
51
51
48
58
52
52
52
54
56
56
50
72
68
63
60
80
76
68
66
72
67
68
61
82
78
72
68
78
75
74
68
82
81
76
72
48
54
58
61
50
56
59
60
54
59
62
68
52
58
62
64
61
60
65
68
65
66
70
69
63
62
68
70
68
64
68
72
68
72
69
72
69
67
70
71
65
63
62
64
64
62
72
70
66
70
70
66
74
70
74
76
76
72
73
69
72
76
75
72
72
68
70
74
74
68
1982
First quarter
Second quarter . . . .
Third quarter
Fourth quarter . . . .
1983
First quarter . . . . . .
Second quarter
Third quarter
Fourth quarter . .
1984
First quarter .
Second quarter . . . .
Third quarter
Fourth quarter . . .
(NA)
(NA)
(NA)
(NA)
(NA)
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 b y ® , that appear to contain no seasonal movement. The "r" indicates revised; "p", preliminary; and "NA", not available.
Graphs of these scries are shown on page 38.
lf
l'his is a copyrighted series used by permission; it may not be reproduced without written permission from Dun £ Bradstreet, Inc. Dun §
Bradstreet diffusion indexes are based on surveys of about 1,400 business executives*
76
OCTOBER 1984
CYCLICAL INDICATORS
C
I
DIFFUSION INDEXES AND RATES OF CHANGE—Continued
Qj SELECTED DIFFUSION INDEX COMPONENTS: Basic Data and Directions of Change
Diffusion index components
1984
February
March
April
May
June
August1"
July
September13
961. AVERAGE WORKWEEK OF PRODUCTION WORKERS, MANUFACTURING '
(Average weekly hours)
o
All manufacturing industries
Percent rising of 20 components
40.9
40.7
(50)
(22)
40.4
39.9
40.1
39.6
+
+
40.4
39.7
41.9
41.8
+
+
41.3
41.9
+
41.1
40.6
(88)
o
(8)
40.6
r40.5
40.4
(38)
(38)
(52)
+
40.5
(65)
Durable goods industries:
Lumber and wood products
Furniture and fixtures
Stone, clay, and glass products
Primary metal industries
+
+
42.5
42.0
Fabricated metal products
Machinery except electrical
+
+
41.8
41.9
Electric and electronic equipment
Transportation equipment
o
41.2
43.1
Instruments and related products
Miscellaneous manufacturing
+
o
39.6
39.7
39.4
39.1
42.3
42.2
42.1
42.1
41.8
41.7
+
+
+
41.8
42,3
41.4
41.9
41.3
42.0
o
41.0
42.9
+
+
41.3
43,5
41.0
42.4
40.8
42.3
o
41.4
39.5
40.7
39.3
+
41,3
39.2
o
39.7
39.6
+
+
40.0
36.5
o
41.2
39.6
41.1
39.6
+
0
39.7
36.4
+
+
39.8
36.9
+
+
40.1
39.5
40.6
36.7
+
+
41.2
37.4
o
+
+
r39.3
r39.8
+
r41.9
r41.5
39.4
39.2
+
+
40.0
40.2
41.6
41.0
+
+
41.8
41.5
o
41.2
41.8
+
r41.8
41.5
41.7
40.8
+
+
40.9
42.5
+
+
41.2
42.6
r38.9
o
41.1
38.9
+
+
41.3
39,2
39.8
40.5
r39.5
r37,5
+
+
39.6
38.8
o
+
39.6
40.3
40.0
36.4
r39.8
r35.8
+
39.4
36.0
37.7
+
43.0
37.9
41.9
+
+
42.0
43.8
41.2
36.5
41.3
r42.2
41.3
Nondurable goods industries:
Food and kindred products
Tobacco manufacturers
o
Textile mill products
Apparel and other textile products
+
+
40.8
36.9
0
0
43.2
37.9
o
43.0
37.9
+
+
43.2
38.2
Chemicals and allied products
Petroleum and coal products
0
42.1
44.5
42.0
44.7
o
42.0
43.7
41.8
43.5
+
+
Rubber and miscellaneous plastics products
Leather and leather products
o
41.7
36.7
+
+
42.1
37.5
41.7
36.5
+
+
Paper and allied products
Printing and publishing .
....
,
42.0
37.2
+
- '
43.1
38.0
42.9
37.7
+
o
r43.3
41.9
43.1
o
+
r43.2
41.9
36.7
r41.2
r37.0
o
+
+ r!01,704
+
39.2
35.9
o
42.9
37.9
41.6
42.2
+
+
41.4
37.1
-
97,614
964. VALUE OF MANUFACTURERS' NEW ORDERS. DURABLE QOODS INDUSTRIES ' 2
(Millions of dollars)
+
All durable goods industries
Machinery except electrical
Electrical machinery
Transportation equipment
Other durable goods industries
. .
+
(47)
Percent rising of 34 components
Primary metals
Fabricated metal products
102,345
+
105,183
-
(56)
98,317
+
(29)
102,256
-
(68)
99,171
(35)
(59)
102,015
(44)
(41)
11,442 +
11,411 -
11,657
10,931
+
-
11,877
10,889
+
10,653
11,573
-
10,155
11,084
+
-
11,183
H,024
+
+
11,245
12,034
+
10,340
12,155
..
+
... -
17,215
16,143
+
+
18,303
16,892
-
16,873
14,716
+
+
18,797
17,535
-
18,512
15,988
+
r!8,149
16,267
+
17,549
16,403
+
-
17,852
16,337
+
+
26,702
19,432
+
, ,.
28,444
18,956
+
24,523
19,439
+
23,776
19,922
+
-
24,055
19,377
+
+
25,267
r!9,814
-
25,096
19,688
-
21,382
19,548
NOTE: To facilitate interpretation, the month-to-month directions of change are shown along with the numbers:
preliminary: and "NA", not available.
( + ) = rising, (o) = unchanged, and ( —) = falling.
The "r" indicates revised; "p",
l
Data are seasonally adjusted by the source agency.
Data for most of the diffusion.index components are not available for publication, but they are included in the totals and directions of
change for the six major industry groups shown here.
2
OCTOBER 1984
77
CYCLICAL INDICATORS
C
I
DIFFUSION INDEXES AND RATES OF CHANGE—Continued
Qj SELECTED DIFFUSION INDEX COMPONENTS: Basic Data and Directions of Change-Continued
Diffusion index components
1984
April
March
February
Julyr
June1"
May
August 1 "
Septemberp
966, INDEX OF INDUSTRIAL PRODUCTION '
(1967-100)
+
All industrial production
Percent rising of 24 component a
J
160.0
+
160.8
+
(69)
(79)
162.1 +
162.8
(62)
(65)
+
164.4
+
165.9
+
(75)
(71)
165.1
166,1
(50)
(40)
148.5
195.1
(NA)
(NA)
Durable manufactures:
145.6
185.6
+
149.3
184.6
+
+
151.2
186.6
+
146.3
190.5
+
160,6
+
+
148.5
191.9
Lumber and products
Furniture and fixtures . . . .
+
Clay, glass, and stone products . .
Primary metals
+
+
160.4
160.2
98.4
97.5
+
99.3
Fabricated metal products
Nonelectrical machinery
+
+
132.8
170.9
+
+
134.9
171.9
+
+
135.5
174.9
+
+
136.5
178.8
+
+
138.7
182.0
+
+
Electrical machinery
Transportation equipment . .
+
+
209.9
135.2
+
+
212.0
135.8
+
214.6
134.5
o
+
214.5
135.0
+
+
216.0
137.2
+
+
Instruments
Miscellaneous manufactures
+
+
168.6
152.0
+
+
169.7
152.3
+
171.0
152.1
+
171.8
151.5
+
174.5
150.8
+
160.0
110.9
+
+
161.2
111.8
+
+
163.1
113.3
+
164 ,,2
112.8
142.3
+
143.5
+
140,5
160.0
159.7
+
146.0
192.6
+
+
160.9
160.2
94.5
92.6
(NA)
89.5
140.6
186.1 +
140.0
189.5
138.7
188.0
221.5
140.6
+
+
222.4
141.0
+
223.5
136.7
+
+
177.1
152,4
+
177.3
149.1
+
178.0
148.2
+
+
165.1 +
118.3
166.1
117.1
+
140.7
139,8
98.2
+
97.9
Nondurable manufactures:
Foods . . .
Tobacco products
Textile mill products
Apparel products
Paper and products
Printing and publishing
+
+
176.6
164,8
Chemicals and products
Petroleum products
+
+
224.8
127.6
+
Rubber and plastics products . . . .
Leather and products
+
+
318.5
63.9
140.0
(NA)
(NA)
+
173.8
165.2
(NA)
+
225.0
127.0
+
+
o
323.8
+
+
+
100.0
164.0
+
118.2
135.8
63.9
172.4
166.3
+
+
228.3
126.8
+
328.0 +
63.5
+
(NA)
(NA)
(NA)
(NA)
140.5
(NA)
(NA)
(NA)
(NA)
174.1 +
167.5 +
174.6
169.0
+
+
176.3
173.6
+
174.4
174.2
231.0
127.5
+
233.0
124.7
+
+
233.6
125.0
334.1 +
341.0
60.0
+
+
341.4
61.4
227.9
127.9
+
(NA)
60.6
(NA)
+
+
(NA)
123.8
340.9
+
174.5
175.4
(NA)
(NA)
62.3
Mining:
Metal mining
Coal
Oil and gas extraction . . . .
Stone and earth minerals
+
+
97.4
163.2
119.6
133.0
98.5
151.4
+
+
118.8
140.4
96.8
96.4
90.9
+
153.9
+
161.5
+
176.5
171.7
+
+
120.4
144.0
+
+
121.6
147.9
+
+
122.4
151.9
98.0
NOTE: To facilitate interpretation, the month-to-month directions of change are shown along with the numbers: ( + ) ^ rising, (o) ^ unchanged, and (-) >-• • falling.
preliminary; and "NA", not available.
+
(NA)
+
122.5
151.7
174.3
122.3
(NA)
The "r" indicates ravised; "p",
l
Data are seasonally adjusted by the source agency.
Where actual data for separate industries are not available, estimates are used to compute the percent rising.
2
78
OCTOBER
1984
ICCII
CYCLICAL INDICATORS
C
I
DIFFUSION INDEXES AND RATES OF CHANGE—Continued
|Q SELECTED DIFFUSION INDEX COMPONENTS: Basic Data and Directions of Change-Continued
Diffusion index components
1984
February
March
May
April
June
967. INDEX OF SPOT MARKET PRICES, RAW INDUSTRIALS
Raw industrials price index (1967^100) . . . .
o
283,6
+
(62)
Percent rising of 13 components
289.2
-
288.6
+
(50)
(65)
July
August
October 1
September
2
289.5
286.2
(50)
(42)
-
280.1
-
(35)
275,6
-
(46)
274.0
-
(46)
266.7
(31)
Dollars
Copper scrap
. . . .
Lead scrap
(pound)
(kilogram). .
+
(pound) . .
(kilogram) . ,
-
0.505
1.113
+
0.146
0.322
0.536
1.182
+
+
0.149
0.328
+
0.150
0.331
o
- 103.750
114.364
-
99.250
109.403
-
95.750
105.545
0.546
-
0.508
-
0.479
1.056
-
0.459
1,012
+
0.460
1.014
-
0.435
0.959
-
0.419
0.924
0.150
0.331
+
0.158
0.348
+
0.188
0.414
-
0.171
0.377
-
0.143
0,315
-
0.120
0.265
+
98.600
108.687
-
94.250
103.892
-
85.000
93.696
+
86.000
94.798
+
92.000
101.412
-
88.750
97.829
5.845
12.886
+
5.890
12.985
-
5.882
12.967
-
5.772
12.725
-
5.680
12.522
-
5.585
12.313
-
5.405
11.916
0.536
-
0.533
-
0.530
1.168
-
0.502
1.107
-
0.491
1.082
-
0.476
1.049
-
0.454
1.001
0.300
0.328
+
0.313
0,342
+
0.329
0.360
+
0.336
0.367
+
0.366
0.400
+
0.393
0.430
0.803
-
0.763
1.682
-
0.683
1.506
-
0.640
1.411
-
0.625
1.378
+
0.626
1.380
0.762
0.833
+
0.779
0.852
+
0,792
0.866
1.204
1.120
Steel scrap
..
( U S ton)
(metric ton). .
Tin
..
(pound)
(kilogram). .
+
5.765
12.710
+
5.840
12.875
+
(pound)
(kilogram), .
+
0.517
1.140
+
0.529
1.166
+
Burlap
(yard). .
(meter). .
-
0.306
0.335
o
0.306
0.335
o
0.306
0.335
Cotton
(pound) . .
(kilogram) . .
+
0.731 +
1.612
0.762
1.680
+
0.771 +
1.700
1.770
(yard) . .
(meter) . .
-
0.845
0.924
-
0.820
0.897
-
0.815
0.891
-
0.784
0.857
-
0.762
0.833
+
0.768
0.840
(pound) . .
(kilogram)..
o
3.500
7.716
o
3.500
7.716
o
3.500
o
3,500
+
3.512
7.743
-
3.500
7,716
o
3.500
7.716
o
3.500
7.716
o
3.500
7.716
(pound)
(kilogram)..
+
0.720
1.587
-
+
0,748
1.649
+
0.766
1,689
+
0.771
1.700
+
0.795
1.753
-
0.732
1.614
(100 pounds) . .
(100 kilograms)..
o
47.000
103.616
o
47.000
103.616
o
o
47.000
103.616
(pound) . ,
(kilogram)..
+
0.582
1.283
-
(pound). .
(kilogram)..
+
0.197
0.434
+
Zinc
...
Print cloth
Wool tops
Hides
Rosin
Rubber
Tallow
•
...
0.671 +
1.479
1.182
1.175
-
7.716
7.716
0.712
1.570
+
47.000
103.616
o
47.000
103.616
o
47.000
103,616
o
47.000
103.616
o
47.000
103.616
o
47.000
103.616
0.578
1.274
0.568
-
0.514
1.133
-
0.475
1.047
-
0,464
1.023
+
0.465
1.025
-
0.464
1.023
0.219
0.483
0.218
0.481
+
0.249
0.549
+
0.259
0.571
-
0.208
0.459
-
0.201
0.443
+
0.218
0.481
0.744
1.640
1.252
0.438
0.966
-
0.215
0.474
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.
^he index is the average for October 1 through 23; component prices are averages for October 2, 9, 16, and 23.
2
Data are not seasonally adjusted. These series are based on copyrighted data used by permission; they may not be reproduced without
written permission from Commodity Research Bureau, Inc. Components are converted to metric units by the Bureau of Economic Analysis.
OCTOBER 1984
79
OTHER IMPORTANT ECONOMIC MEASURES
NATIONAL INCOME AND PRODUCT
IQ GNP AND PERSONAL INCOME
Year
and
quarter
217. Per capita
GNP in 1972
ooiiars
50. Gross national product in 1972 dollars
200. Gross national product in current dollars
rt
a. Total
b. Difference
(Ann. rate,
bil. dot.)
(Ann. rate,
bil. do!.)
b. Difference
a. Total
c. Percent
change at
annual rate
(Ann. rate,
bil. dol.)
(Ann. rate,
bil. dol.)
c. Percent
change at
annual rate
213. Final sales
in 1972 dollars
II
(Ann. rate,
dollars)
(Anr. rate,
bil. dol.)
1981
First quarter
Second quarter
Third quarter
Fourth quarter . . . .
2,875.8
2,918.0
3,009.3
3*027. 9
139.8
3,026.0
3,061.2
3,080.1
3,109.6
-1.9
35.2
18.9
29.5
3,173.8
3,267.0
3,346.6
3,431.7
64.2
93.2
79.6
85.1
3,553.3
3,644.7
p3,701.2
121,6
42.2
91.3
18.6
1,513.5
1,511.7
1,522.1
1,501.3
22.1
6.0
13.1
35.6
-1,8
10.0
-0.5
2.8
10.4
6,603
6,580
6,607
6,500
1,505.4
1,499.4
1,504.6
1,494.0
1,490.3
1,484.5
1,483.5
1,503,4
-20.8
-5.4
1,483.5
1,480.5
1,477.1
1,478.8
-17.8
-4.6
-0.8
-0.9
1.7
0.5
6,408
6,381
6,349
6,341
12.3
10.1
10.6
1,491.0
1,524.8
1,550.2
1,572.7
12.2
33.8
25.4
22.5
3.3
9.4
6.8
5.9
6,379
6,510
6,602
6,681
1,507.5
1,530.9
1,549.3
1,565.4
14.9
10.7
p6.3
1,610.9
1,638.8
pi, 649. 6
6,829
6,933
p6,962
1,579.3
1,618.5
pi, 618. 5
2.5
1982
First quarter
Second quarter . . . .
Third quarter . . . . .
Fourth quarter
...
-0.2
4.7
2.5
3.9
-3.0
-3.4
1983
First quarter
Second quarter . . . .
Third quarter
Fourth quarter . . . .
8.5
1984
first quarter
Second quarter . . . .
Third quarter
Fourth quarter . . . .
91.4
p56.5
D sposable personal income
224. Current dollars
(Ann. rate,
bil. doi.)
225, Constant
(1972) dollars
(Ann. rate,
bil. dol.)
10,1
plO.8
P 2.7
7.1
IQ] PERSONAL CONSUMPTION EXPENDITURES
m GNP AND PERSONAL INCOME-Continued
Year
and
quarter
38.2
27.9
230. Total n current
dollars
231. Total in 1972
dollars
.232. Durable goods
in current dollars
(Ann, rate,
bil. dol.)
(Ann. rate,
bil. dol.)
(Ann. rate,
bil. dol.)
233. Durable goods
in 1972 dollars
227. Per capita in
1972 dollars
(Ann. rate,
dollars)
(Ann. rate,
bil. dol.)
1981
First quarter
Second quarter . . . .
Third quarter
Fourth quarter . . . .
1,972,5
2,006.0
2,078.6
2,109.8
1,042.5
1,040.7
1,058.1
1,056.0
4,548
4,530
4,593
4,572
1,797.9
1,829.3
1,877.3
1,891.8
950.2
949.1
955.7
946.8
237,8
232.4
242,5
228.9
146,1
140.0
143.5
134.0
2,132.0
2,156.8
2,195.8
2,237.5
1,052.8
1,054.8
1,057.9
1,067.6
4,548
4,546
4,548
4,578
1,931.3
1,960.9
2,001.3
2,046.1
953,7
958.9
964.2
976.3
239.4
241.6
244,5
255.0
138.5
138.8
139.3
145.2
2,261.4
2,302.9
2,367.4
2,428.6
1,073.1
1,082.0
1,102.2
1,124.3
4,591
4,619
4,694
4,776
2,070.4
2,141.6
2,181.4
2,230.2
982,5
1,006.2
1,015.6
1,032.4
259.4
276.1
284.1
299.8
146,8
156,2
159.6
167.2
2,502.2
2,554.3
p2,604.8
1,147.6
1,165.3
pi, 175. 4
4*865
4,*930
p4,961
2 276.5
2,332.7
p2,359.3
j?m
iu ,Qy
320.7
p317,3
m . 7/
1,064.2
pi, 064. 6
1982
First quarter
Second quarter . . . .
Third quarter
Fourth quarter . . . .
1983
First quarter . . . .
Second quarter . . . .
Third quarter
Fourth quarter
1984
First quarter , . .
Second quarter . . . .
Third quarter
Fourth quarter . . . .
i
044 i
1 ,U*T*t . 1
178.6
p!77.0
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 1984
OTHER IMPORTANT ECONOMIC MEASURES
NATIONAL INCOME AND PRODUCT—Continued
^R PERSONAL CONSUMPTION EXPENDITURES-Continued
Year
and
quarter
^Q GROSS PRIVATE DOMESTIC INVESTMENT
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.)
241. Total in
1972 dollars
(Ann. rate,
bil dol.)
242. Fixed investment, total, in
current dollars
243, Fixed investment, total, in
1972 dollars
(Ann. rate,
bil. dol.)
(Ann. rate,
bil. dol.)
1981
First quarter
Second quarter . . . .
Third quarter
Fourth quarter . . . .
715.4
727.9
736.8
742.6
358.7
361.2
361.6
361.7
844.8
869.0
898.0
920.3
445.4
447.9
450.5
451.2
468.1
481.1
505.8
481.7
228.5
232.8
238.5
223.7
446.2
457.3
466.2
462.8
220.4
220.5
221.0
216.4
746.4
750.6
762.5
770.6
360.5
362.0
363.7
366.0
945.4
968.6
994.2
1,020.6
454.7
458.1
461.2
465.1
436.2
431.2
415.9
376.2
204.7
200.4
194.3
177.8
453.2
442.1
431.3
437.3
211.4
204,5
200.7
202.4
775.2
796,9
811.7
823.0
368.8
374.9
378.5
383.2
1,035.8
1,068.6
1,085.7
1,107.5
466.8
475.1
477.6
482.0
405.0
449.6
491.9
540.0
191.3
212.6
230.6
249.5
447.9
469.0
496.2
527.3
207.8
218.7
229.8
242.2
841.3
858.3
p863.3
387.1
396.6
p396.1
1,124.4
1,153.7
pi, 178. 7
483.4
488.9
P491.5
623.8
627.0
p660 . 5
285.5
283.9
p299.2
550.0
576.4
p588.1
253.9
263.7
p268.0
1982
First quarter
Second quarter . . . .
Third quarter
Fourth quarter . . . .
1983
First quarter
Second quarter . . . .
Third quarter
Fourth quarter . . . .
1984
First quarter
Second quarter . . . .
Third quarter
Fourth quarter . . . .
B
Year
and
quarter
GROSS PRIVATE
DOMESTIC INVEST.-Con.
245. Change in
business inventories in current
dollars
(Ann. rate,
bil. dol.)
30. Change in
business inventories in 1972
dollars
(Ann. rate,
bil. dol.)
|Q GOVERNMENT PURCHASES OF GOODS AND SERVICES
260. Total in
current dollars
(Ann. rate,
bil. dol.)
261. Total in
1972 dollars
(Ann. rate,
bil. dol.)
262. Federal
Government in
current dollars
263. Federal
Government in
1972 dollars
(Ann. rate,
bil. dol.)
(Ann. rate,
bil. dol.)
266. State and
local government
in current dollars
(Ann. rate,
bil. dol.)
267. State and
local government
in 1972 dollars
(Ann. rate,
bil. dol.)
1981
First quarter
Second quarter . . . .
Third quarter
Fourth quarter . . . .
8.1
21.9
23.7
39.7
18.9
12.4
17.5
7.2
576.6
585.3
601.3
622.7
286.0
285.1
287.4
289.6
215.6
220.9
232.2
246.9
107.4
108.2
111.7
113.8
361.0
364.4
369.1
375.8
178.6
176.9
175.7
175.9
630.9
633.7
656.3
681.0
290.2
287.0
292.8
300.6
249.8
245.0
261.6
279.4
114.8
111.0
117.2
124.8
381.1
388.7
394.7
401.6
175.4
176.0
175.7
175.8
678.8
682.2
689.8
691.4
294,3
292.4
292.0
288.8
273.0
270.5
269.2
266.3
119.0
117.2
115.6
113.0
405.8
411.6
420.6
425.1
175.3
175.2
176.4
175.8
704.4
743.7
P766.9
289.5
302.1
p308.4
267.6
296.4
p307.7
112.2
123.2
p!27.4
436.8
447.4
p459.2
177.3
178.9
plSl.l
1982
First quarter
Second quarter . . . .
Third quarter . . . . . .
Fourth quarter . . . .
-17.0
-10.9
-15.3
-61.1
-6.7
-4.0
-6.4
-24.6
1983
First quarter
Second quarter . . . .
Third quarter
Fourth quarter . . . .
-42.9
-19.4
-16.5
-6.1
0.9
7.2
-4.3
12.7
1984
First quarter
Second quarter . . . .
Third quarter
Fourth quarter . . . .
73.8
50.6
31.6
20.3
p72.4
p31.2
See note on page 80.
Graphs of these series are shown on pages 41, 42, and 43.
OCTOBER 1984
81
OTHER IMPORTANT ECONOMIC MEASURES
A
I
NATIONAL INCOME AND PRODUCT—Continued
D
Q| FOREIGN TRADE
Year
and
quarter
255. Constant
(1972) dollars
250. Current
dollars
(Ann. rate,
bil. dol.)
(Ann. rate,
bil. dol.)
(Ann. rate,
bit. dol.)
280. Compensation of
employees
220, National income in current
dollars
257. Constant
(1972) dollars
253. Current
dollars
256. Constant
(1972) dollars
252. Current
dollars
(Ann. rate,
bil. dol.)
(Ann. rate,
bil. dol.)
Imports of goods and services
Exports of goods and services
Net exports of goods and services
NATIONAL INCOME
AND ITS COMPONENTS
(Ann. rate,
bil. dol.)
(Ann. rate,
bil. dol,)
(Ann. rate,
bil. dol.)
1981
First quarter
Second quarter . . . .
Third quarter
Fourth quarter . . . .
33.1
22.4
24.8
31.7
48.8
44.8
40.6
41.2
368.4
369.8
368.7
372.8
161.2
161.0
159.3
159.4
335.3
347.5
343,9
341.1
112.5
116.3
118.7
118.2
2,299.4
2,330.6
2,407.8
2,417,6
1,716.1
1,747.6
1,785,5
1,812.5
27.7
35.5
34.9
34.1
25.7
24.1
359.4
366.3
346.3
321.7
152.2
155.1
146.6
136.7
331.7
330.8
339.7
315.4
117.3
121.0
120.9
112.6
2,422.3
2,443.9
2,452,4
2,468.6
1,834.2
1,857.7
1,876.3
1,888.7
22.9
13.6
11.9
328.5
328.1
342.0
346.1
138.2
137.0
141.6
141,0
308.9
334.5
358.4
375.9
115.3
123.4
129,7
139.1
2,527.0
2,609.0
2,684,4
2,766.5
1,921.3
1,962.4
2,000.7
2,055.4
358.9
362.4
p375.5
144.9
144.7
p!50.2
410.4
421.1
p461.0
153.2
156.2
p!72.8
2,873.5
2,944.8
2,113.4
2,159.2
p2,191.2
1982
First quarter
Second quarter . . . .
Third quarter . . .
Fourth quarter
6,6
6.3
1983
First quarter
Second quarter . . . .
Third quarter
Fourth quarter . . . .
19.6
-6.5
-16.4
-39.8
2.0
1984
-51.5
-58.7
p-85.5
First quarter
Second quarter . . . .
Third quarter
Fourth quarter . . . .
-8.3
-11.4
p-22,7
Qj NATIONAL INCOME AND ITS COMPONENTS-Continued
year
and
quarter
282. Proprietors'
income with inventory valuation and
capital consumption adjustments
(Ann. rate,
bil. dol.)
284, Rental income
of persons with
capital consumption adjustment
(Ann. rate,
bil, dot.)
286. Corporate
profits with inventory valuation and
capital consumption adjustments
(Ann. rate,
bil. clot.)
(NA)
Q SAVING
288. Net interest
(Ann. rate,
bil. dol.)
290. Gross saving
(private and government)
(Ann. rate,
bil. dol.)
295. Business
savng
292. Personal
saving
(Ann. rate,
bil. dol,)
(Ann rate,
bil. dol.)
1981
First quarter
Second quarter . . . .
Third quarter
Fourth quarter
127.8
123.9
129.7
119.1
38,7
40.8
42.9
46.8
194.8
184.3
195.7
184.9
222.0
233.9
253,9
254.4
469.0
475.9
503.0
489.5
355.8
364.1
380.3
390.2
121.8
122.1
145.0
160.6
116.8
107.7
102.2
117.6
47.8
48.3
52.9
57.0
159.9
161.7
163.3
151.6
263.6
268.5
257.7
253.8
447.0
445.4
397.9
344.8
378.3
386.2
393.8
393.9
142.6
136.7
134.5
130.2
114.7
116.9
123.3
131.9
57.7
59.0
56.2
60.4
179.1
216.7
245.0
260.0
254.2
254.2
259.2
258.9
393.4
414.7
455.2
485.7
417.0
441.4
469.7
486.4
128.0
154.9
149.8
P155.9
61.0
62,0
277.4
291.1
498.8
515.3
(NA)
266.8
282.8
p292.5
543.9
551.0
P63.0
(NA)
(NA)
1982
First quarter
Second quarter . . . .
Third quarter
Fourth quarter . . . .
1983
First quarter
Second quarter . . . .
Third quarter
Fourth quarter . . . .
96.7
119.0
128.7
1984
First quarter
Second quarter
Third quarter
Fourth quarter . . . .
152.5
144.8
P164.7
See note on page 80.
Graphs of these series are shown on pages 44, 45, and 46.
82
OCTOBER
1984
OTHER IMPORTANT ECONOMIC MEASURES
A
I
NATIONAL INCOME AND PRODUCT—Continued
Qj SAVING-Continued
Year
and
quarter
298. Government
surplus or deficit,
loiai
tntal
,
(Ann. rate,
bil. dot.)
Q SHARES OF GNP AND NATIONAL INCOME
293. Personal
saving rate
(percent of disposable personal
income)
(Percent)
Percent of gross national product
235. Personal consumption expenditures, total
248. Presidential
fixed investment
(Percent)
(Percent)
249. Residential
fixed investment
(Percent)
247. Change in
business inventories
251. Net exports of
goods and services
(Percent)
(Percent)
1981
First quarter
Second quarter . . . .
Third quarter
Fourth quarter . . . .
-11.4
-23.3
-62,4
6.2
6.1
7.0
7.6
62.5
62.7
62.4
62.5
11.6
11.9
12.1
12.2
3.9
3.7
3.4
3.1
-73.8
-77,6
-130.4
-179.2
6.7
6.3
6.1
5.8
63.8
64.1
65.0
65.8
12.1
11.5
11.1
10.9
2.9
3.0
2.9
3.1
-0,6
-0,4
-0,5
-2.0
-151.7
-123.4
-133.5
-129.3
5.7
4.2
5.0
5.3
65.2
65.6
65.2
65.0
10.5
10.4
10.6
11.2
3.6
4.0
4,3
4.2
-1.4
-0.6
-0.1
-107.4
-109.2
6 1
5>
64.1
11.2
ii!s
4.3
4^3
pll.7
P 4.2
-9.7
0.8
0.8
1.3
0.6
1.2
0.8
0.8
1.0
1982
First quarter
Second quarter . . . .
Third quarter
Fourth quarter . . . .
0.9
1,2
0.2
0.2
1983
First quarter
Second quarter . . . .
Third quarter
Fourth quarter . . . .
0.6
0.4
-0.2
-0.5
-0.9
2. 1
— 1. H
1984
First quarter
Second quarter . . . .
Third quarter
Fourth quarter . . . .
p6.3
(NA)
64.'o
p63.7
l.*4
p2.0
-1 d
-1.6
p-2.3
Ql SHARES OF GNP AND NATIONAL INCOME-Continued
Year
and
quarter
Percent of national income
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 CCAdjl
285. Rental income
of persons with
CCAdj '
(Percent)
(Percent)
287. Corporate
profits with IVA
and CCAdj '
289. Net interest
(Percent)
(Percent)
1981
First quarter
Second quarter . . . .
Third quarter
Fourth quarter . . . .
7,5
7.6
7.7
8.2
12.6
12.5
12.3
12.4
74.6
75.0
74.2
75.0
5.6
5.3
5.4
4.9
1.7
1.8
1.8
1.9
8.5
7.9
8.1
7.6
10.0
10.5
10,5
8.3
8.0
8.5
9.0
12.6
12.7
12.8
12.9
75.7
76.0
76.5
76.5
4.8
4.4
4.2
4.8
2.0
2.0
2.2
2.3
6.6
6.6
6.7
6.1
10.9
11.0
10.5
10.3
8.6
8.3
8.0
7.8
12.8
12.6
12.6
12.4
76.0
75.2
74.5
74.3
4.5
4.5
4.6
4.8
2.3
2.3
2.1
2.2
7.1
8.3
9.1
9.4
10.1
7.5
8.1
12.3
12.3
73.5
73.3
(NA)
5.4
5.1
2.1
2.1
9.7
9.9
9.7
1982
First quarter
Second quarter . . . .
Third quarter
Fourth quarter . . . .
1983
First quarter
Second quarter . . . .
Third quarter
Fourth quarter . . . .
9.7
9,7
9.4
1984
First quarter
Second quarter . . . .
Third quarter
Fourth quarter . . . .
p8.3
p!2.4
(NA)
(NA)
(NA)
9.3
9.6
(NA)
See note on page 80.
Graphs of these series are shown on pages 46 and 47.
1
IVA, inventory valuation adjustment; CCAdj, capital consumption adjustment.
OCTOBER 1984
83
OTHER IMPORTANT ECONOMIC MEASURES
B I
PRICES, WAGES, AND PRODUCTIVITY
Q| PRICE MOVEMENTS
Implicit price deflator,
gross national product
Year
and
month
310. Index
(1972 = 100)
310c. Change
over 1-quarter
spansl
(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 <u)
320c. Change
over 1-month
spans '
320c. Change
over 6-month
spans '
(1967 = 100)
(Percent)
(Ann. rate,
percent)
322. Index
(1967 = 100)
322c. Change
over 1-month
spans 1
322c. Change
over 6-month
spans l
(Percent)
(Ann. rate,
percent)
1982
5.3
211.7
282.5
283.4
283.1
4.4
214.1
284.3
287.1
290.6
5.6
4.6
January
February
March
204.0
5.6
April
May
June
206*. 8
July
August
September
208.5
October
November
December
210*3
3.4
217.0
3.4
3.7
218.9
0.4
0.2
3.5
4.4
6.0
281.8
283.4
282.7
0.4
0.9
1.1
6.2
6.2
6.6
283.4
285.3
287.2
292.2
292.8
293.3
0.5
0.3
0.0
6.6
4.7
1.8
287.6
286.8
287.2
294.1
293.6
292.4
0.4
0.0
1.4
0.7
0.8
-0.1
-0.3
0.9
0.6
-0.2
3.7
4.8
5.8
0.2
0.7
0.7
4.2
2.4
3.2
0.1
0.1
3.0
1.8
0.6
287.6
287.9
288.0
0.1
0.1
0.0
0.9
1.6
2.2
288.9
289.1
290.3
0.3
0.1
0.4
2.7
2.9
2.4
0.4
0.2
1.6
1.8
1.4
-0.3
1983
5.0
January
February
March
212!9
2.7
214.2
July
August
September
215.9
October
November
December
218.2
0.1
0.7
0.4
0.2
3.4
4.3
5.0
291.5
292.1
291.5
299.3
300.3
301.8
0.4
0.4
0.4
4.4
4.2
4.3
291.2
291.7
292.3
3.5
302.6
303.1
303.5
0.4
0.4
0.2
4.8
4.8
4.5
4.2
305.2
306.6
307.3
0.6
0.4
0.2
308.8
309.7
310.7
0.5
0.2
0.2
311.7
313.0
314.5
0.3
0.5
0.4
222.5
3.1
4.5
225.0
4.4
0.3
295.5
297.1
298.1
3.9
2.6
April
May
June
293.1
293.2
293.4
1.4
2.3
3.3
220.4
226^9
-0.1
-0.2
0.2
0.2
1.4
1.4
2.7
293.5
294.1
295.4
0.4
0.2
0.4
6.3
7.3
6.6
4.6
4.3
4.1
300.2
302.2
301.8
1.6
0.7
5.7
4.7
4.0
3.4
3.6
3.9
301.7
300.9
301.3
-0.1
1984
4.4
January
February
March
220.6
April
May
June
222.4
July
August
September
229.3
3.3
4.1
231.6
p3.6
p3.6
p224.'4
p233!7
302.2
304.1
303.8
-0.1
0.0
-0.3
0.1
1.3
1.3
1.3
0.3
0.6
-0.1
October
November
December
See note on page 80.
Graphs of these series are shown on pages 48 and 49.
l
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 1984
OTHER IMPORTANT ECONOMIC MEASURES
PRICES, WAGES, AND PRODUCTIVITY—Continued
IH PRICE MOVEMENTS-Continued
Producer prices, industrial commodities
Producer prices, all commodities
Year
and
month
330. Index (u)
(1967 = 100)
330c. Change
over 1-month
spans 1 (u)
(Percent)
330c. Change
over 6-month
spans ' (u)
(Ann. rate,
percent)
335. Index (u)
(1967 = 100)
335c. Change
over 1-month
spans ' (u)
(Percent)
Producer prices, crude materials
335c. Change
over 6-month
spans ' (u)
(Ann. rate,
percent)
331. Index
(1967 = 100)
331c. Change
over 1-month
spans l
(Percent)
331c. Change
over 6-month
spans l
(Ann. rate,
percent)
1982
January
February
March
298.3
298.6
298.0
0.8
0.1
-0.2
1.3
2.1
2.4
311.8
311.6
311.0
0.6
-0.1
-0.2
0.6
0.2
0.4
320.4
319.5
317.9
1.3
-0.3
-0.5
-2.2
3.0
4.8
April
May
June
298.0
298.6
299.3
0.0
0.2
0.2
1.4
1.1
0.9
309.9
309.6
310.6
-0.4
-0.1
0.3
0.6
1.0
1.1
320.0
324.2
323.7
0.7
1.3
-0.2
0.2
-1.1
-1.3
July
August
September
300.4
300.2
299.3
0.4
-0.1
-0.3
1.2
1.1
0.9
312.8
313.2
312.7
0.7
0.1
-0.2
2.9
3.5
3.0
320.8
317.8
315.8
-0.9
-0.9
-0.6
-2.9
-3.1
-3.7
October
November
December
299.8
300.3
300.7
0.2
0.2
0.1
-0.3
0.5
0.9
314.3
315.0
315.2
0.5
0.2
0.1
0.7
0.4
0.5
315.4
319.1
317.7
-0.1
1.2
-0.4
-2.8
0.4
2.8
January
February
March
299.9
300.9
300.6
-0.3
0.3
-0.1
0.5
0.8
1.1
313.9
313.9
313.5
-0.4
0.0
-0.1
-1.2
-0.9
0.1
316.2
318.5
320.2
-0.5
0.7
0.5
5.0
1.6
2.2
April
May
June
300.6
301.5
302.4
0.0
0.3
0.3
2.2
2.5
3.2
312.4
313.6
315.3
-0.4
0.4
0.5
1.7
2.2
2.3
323.2
321.6
321.1
0.9
-0.5
-0.2
1.1
4.1
5.4
July
August
September
303.2
304.7
305.3
0.3
0.5
0.2
3.6
2.7
2.5
316.5
317.3
317.1
0.4
0.3
-0.1
3.9
3.0
2.0
317.9
325.0
328.8
-1.0
2.2
1.2
3.7
5.5
7.9
October
November
December
306.0
305.5
306.1
0.2
-0.2
0.2
3.2
2.8
3.8
318.5
318.3
318.4
0.4
-0.1
0.0
1.6
2.1
3.1
329.2
330.4
333.6
0.1
0.4
1.0
11.7
3.7
5.1
308.0
308.9
311.0
0.6
0.3
0.7
3.5
r4.0
3.5
319.1
320.6
321.9
0.2
0.5
0.4
2.6
r3.1
3.5
336.0
330.9
337.1
0.7
-1.5
1.9
4.7
r2.1
-1.5
311.3
r311.5
311.4
0.1
0.1
rO.O
2.6
1.3
-1.0
322.6
r323.2
323.9
0.2
0.2
0.2
3.1
1.8
0.2
336.9
r333.8
331.1
-0.1
r-0.9
r-0.8
-2.8
-2.2
-5.9
312.0
310.9
309.5
0.2
-0.4
-0.5
324.0
323.5
322.3
0.0
-0.2
-0.4
331.3
327.2
327.0
0.1
-1.2
-0.1
1983
1984
January
February
March
April
May
June
July
August
September
October
November
December
See note on |
Graphs of these series are shown on page 48.
Changes are centered within the spans:
OCTOBER 1984
1-month changes are placed on the 2d month and 6-month changes are placed on the 4th month.
85
OTHER IMPORTANT ECONOMIC MEASURES
PRICES, WAGES, AND PRODUCTIVITY—Continued
Q[ PRICE MOVEMENTS-Continued
Year
and
month
332. Index
(1967-100)
332c. Change
over 1-month
spans '
(Percent)
Producer prices, finished consumer goods
Producer prices, capital equipment
Producer prices, intermediate materials
332c. Change
over 6-month
spans '
333. Index
(Ann. rate,
percent)
(1967-100)
-0.5
-0,7
-0.6
275.2
274.5
276.0
-0.7
-0,6
333c. Change
over 1-month
spansl
(Percent)
333c. Change
over 6-month
spans '
(Ann. rate,
percent)
334, Index
(1967-100)
334c. Change
over 1-month
spans '
(Percent)
334c. Change
over 6-month
spans '
(Ann. rate,
percent)
1982
January
February
March
311.6
311.1
310,1
April
May , ,
June . . .
309.0
309.1
309.8
. . .
July
August
September
310,5
310.2
310.4
October
November
December
310.3
311.1
311.3
0.3
-0.2
-0.3
-0.4
0.0
0.2
0.2
-0.1
0.1
0.0
0.3
0.1
0.5
4.9
4.4
4.4
278.2
278.3
277.5
0.2
276.8
277.9
279.5
0.3
0.4
0.6
3.9
5.4
4.3
277.8
277.4
280.1
0.8
1.3
1.0
280.5
281.8
281.9
0.4
0.5
0.0
3.7
3.6
3.5
-0.5
-0.2
-0.8
281.9
282.8
284.3
0.0
0.3
0.5
-1.5
-1.3
0.6
-0,3
0.7
0.0
2.3
1.3
2.7
-0.3
1.0
2.3
3.1
3.8
281.4
282,6
282.7
0.5
0.4
0.0
4.4
6.0
4.3
2.6
2.3
2.8
283.8
285.6
286.1
0.4
0.6
0.2
1.4
0.6
0.0
2.9
2.6
1.9
283.4
283.4
282.7
0.1
-0.1
1983
-0*8
-1.5
-1.0
-0.9
January
February
March .
309.8
309.9
309,1
-0.5
-0.3
0.0
284.1
285.0
285.8
April
May
June
307.9
309.1
311.3
-0.4
0.4
0.7
1.6
2.3
4.1
285.9
286.5
287.0
0.0
0.2
2.4
2.7
1.9
282.6
283.5
284.7
0.0
0,3
0.4
0.8
1.5
2.4
July
August
September
312.2
313.4
315.3
0.3
0.4
0.6
5.5
4.9
3.8
287.5
288.8
288,5
0.2
0.5
1.9
1.8
2.0
284.6
285,5
286,1
0.0
0,3
0.2
2.9
2.0
1.4
October
November . . , , . . .
December
316.2
316.6
317.1
0.3
0.1
0.2
3,1
2.7
2.6
288.6
289.0
289.8
0.0
0.1
0.3
2.1
2.0
2.8
286.6
286.3
286.7
0.2
2.9
3.0
3.5
317.0
317.6
319.3
0.0
0.2
0.5
2.1
0.2
0.4
0.3
4.0
2.9
290.5
291,7
292.5
3.3
288.7
289.8
291.0
0.7
0.4
0.4
319.5
r320.3
321.6
rO.3
2.5
1.8
0.5
294.3
r293,9
294.5
0.6
r-0.1
3.3
3.1
2.6
290.6
r290.3
290.4
r-0.1
321.0
320.5
320.1
-0.2
-0.2
-0.1
295.2
296.2
296.3
0.2
0.3
0.0
0.0
-0.1
0.3
0.3
o.a
-0.1
0.0
-0.2
-0.1
0.1
1984
January
February
March
April
May
June
July
August
September
0.1
0.4
r2.4
rO.2
r3.4
291.3
290.7
290.0
2.8
r2,8
2,6
1.8
0,6
-0.1
rO.O
-0.7
0.3
-0.2
-0.2
October . . . .
November
December
See note on page 80.
Graphs of these series are shown on page 48.
l
Changes are cantered within the spans: 1-month changes are placed on the 2d month and 6-month changes are placed on the 4th month.
86
OCTOBER 1984
OTHER IMPORTANT ECONOMIC MEASURES
B
PRICES, WAGES, AND PRODUCTIVITY—Continued
Qj WAGES AND PRODUCTIVITY
Average hourly compensation, all employees,
nonfarm business sector
Average hourly earnings, production workers, private nonfarm economy, adjusted '
Year
and
month
340. Index
(1977 = 100)
340c. Change
over 1-month
spans 2
(Percent)
Current-dollar compensation
Real earnings
Current-dollar earnings
340c. Change
over 6-month
spans 2
(Ann. rate,
percent)
341. Index
(1977 = 100)
341c. Change
over 1-month
spans 2
(Percent)
341c. Change
over 6-month
spans
345. Index
2
(Ann. rate,
percent)
(1977 = 100)
345c. Change
over 1-quarter
spans 2
345c. Change
over 4-quarter
spans 2
(Ann. rate,
percent)
(Ann. rate,
percent)
1982
yo. O
c
O . Po
3 . 0O
A 1
2 9
. <-
no r
yo . o
-U. 1
O c
.D
6.5
6.4
93.7
93.5
92.9
0.2
-0.2
-0.7
0.6
0.6
0.2
6.1
5.1
5.6
92.9
93.2
93.4
0.0
0.3
0.2
150.9
151.3
152.2
0.4
0.3
0.6
5.2
5.0
4.5
93.4
93.6
94.5
0.0
0.3
0.9
4.2
4.5
3.6
January
February
March
152.9
153.6
153.6
0.4
0.5
0.0
4.4
4.6
3.8
94.8
95.3
95.1
0.4
0.5
3.1
2.5
1.0
April
May
June
154.2
154.7
155.1
0.4
0.3
0.2
3.7
2.4
3.4
94.8
94.8
94.9
-0.2
July
August
September
155.6
155.4
156.2
0.4
-0. 1
o!s
3.7
3.2
3^5
94.9
94.4
94^5
0.0
-0 6
0.*2
-0.3
-0 5
16l!9
October , .
November
December
157.1
157.2
157.8
0.5
0.1
0.4
3.7
4.0
3.7
94.7
94^6
94^9
0.2
-0*.2
0.3
-0.3
o'.8
153!;
January
February
March
158.4
158.5
159.1
0.4
0.1
0.4
3.6
3.1
3.2
94.8
94.8
95.1
-o!i
0.0
165^9
0.3
1.4
0^7
0.7
April
May
June
159.9
159.6
160.3
0.5
3.0
2.6
95.4
94.9
95.2
0.3
-0.5
0.3
0.7
-1.5
p-1.7
167!4
95.2
94.1
p94.3
0.0
r-1.1
pO.2
January
February
March
idR
140 . i1
1 O
1 . L.
•MC 0
143 . C,
14C 7
1H J . /
0 . 11
April
May
June
146.5
147.6
148.1
0.5
5.5
0.7
0.4
July
August
September
149.0
149.9
150.3
October
November
December
O O
. O
6
C
. 0
6 c
.J
6 p
. O
no
no
r\
yo. u
10.6
150.7
7.7
i1 .nU
-0.6
0.4
-0.3
-0.6
0.3
3.5
5.8
7^2
152^9
...
.. .
155.6
7.4
...
157.5
5.0
e!6
5^3
1983
-0.2
o.o.
0.1
5.7
3.3
0.3
-1.9
-1.1
-o!i
4!l
159^7
16l!6
3^9
2.3
3^9
4.5
r3.9
1.2
1984
160.8
160.6
P161.7
July
August
September
-0.2
0.4
rO,3
r-0.1
pO.7
p3.3
5.4
P 4!3
r3.5
...
...
p3.8
r^*
w
pl69\6
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 are placed on the 4th month, 1-quarter changes are placed on the 1st month of the 2d quarter, and 4-quarter changes are placed on the middle month of the 3d quarter.
2
OCTOBER
1984
87
OTHER IMPORTANT ECONOMIC MEASURES
PRICES, WAGES, AND PRODUCTIVITY—Continued
RR| WAGES AND PRODUCTIVITY-Continued
Negotiated wage and benefit
decisions, all industries (u)
Average hourly compensation, all employees,
nonfarm business sector-Continued
Year
and
month
348. First year
average changes
Real compensation
346. Index
(1977-100)
346c. Change
over 1-quarter
spans '
346c. Change
over 4-quarter
spans '
(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 '
(Ann. rate,
percent)
(Ann. rate,
percent)
358. Index of
output jer hpur
all persans,
nonfiirm
business sector
(1977-100)
1982
6.6
January
February
March
96\5
April
May
June
96^6
July
August
September
96*. 6
October
November
December
97*.4
1.9
1.2
i'.B
0,3
2.6
2.1
2.6
0.2
2.5
6.2
4.7
3.3
4.8
99^8
l'.3
99^4
i".2
106! 3
3^3
lobis
3'.k
ioi!e
a!i
103^6
sis
104 !i
r3*.3
104^4
ps!6
105^2
2.4
lOCl! 9
2.i)
-6!e
-2.3
100 '.3
2.3
3.4
ioo!9
ioi!e
2.7
1983
5.3
January . , . . , . . , .
February
March
96\7
April
May
June
9&\5
-1.0
i!s
6!e
-1.6
2.1
1.4
102^2
4.4
5.9
3.6
103! 6
,
July
August
September
98!6
October
November
December
9&\i
-1.8
-6! e
0.1
5,0
2.8
4.3
104^3
4.9
1.4
3.1
-6'.3
104!?
1984
0.4
January , . . , . .
February
March
98^2
April
May
June
9s!i
July
August
September
-0.1
p6!2
r5.1
4,0
r4.7
105!?
r3.5
r3.2
r4.9
rl06*6
r!07.0
pO.2
p98!2
P 2.9
pi. 7
P 3.3
pioe'.e
pl07!s
October
November . . .
December .
See note on page 80.
Graphs of these series are shown on pages 49 and 50.
Changes are centered within the spans:
on the middle month of the 3d quarter.
1
1-quarter changes are placed on the 1st month of the 2d quarter and 4-quarter changes are placed
OCTOBER 1984
OTHER IMPORTANT ECONOMIC MEASURES
LABOR FORCE, EMPLOYMENT, AND UNEMPLOYMENT
^J CIVILIAN LABOR FORCE AND MAJOR COMPONENTS
Civilian labor force
Year
and
month
Labor force participation rates
Number unemployed
441. Total
442. Employed
451. Males
20 years
and over
452. Females
20 years
and over
453. Both
sexes, 16-19
years of age
(Thous.)
(Thous.)
(Percent)
(Percent)
(Percent)
37. Total
(Thous.)
444. Males
20 years
and over
445. Females
20 years
and over
446, Both
sexes, 16-19
years of age
447. Fulltime
workers
(Thous.)
(Thous.)
(Thous.)
(Thous.)
448. Number employed
part-time
for economic
reasons
(Thous.)
1982
January
February
March
109,075
109,503
109,664
99,682
99,810
99,754
78.6
78.7
78.7
52.2
52.4
52.6
54.2
54.8
54.2
9,393
9,693
9,910
4,374
4,427
4,615
3,117
3,293
3,405
1,902
1,973
1,890
7,820
7,989
8,335
4,961
5,413
5,591
April
109,901
110,542
110,133
99,598
100,179
99,653
78.8
79.0
78.8
52.6
52.9
53.0
54.5
55.5
52.4
10,303
10,363
10,480
4,766
4,787
5,065
3,571
3,568
3,550
1,966
2,008
1,865
8,605
8,739
8,914
5,756
5,781
5,696
110,399
110,473
110,679
99,503
99,563
99,412
78.8
78.6
78.9
53.0
53.0
52.8
53.2
53.9
54.1
10,896
10,910
11,267
5,207
5,245
5,563
3,682
3,668
3,693
2,007
1,997
2,011
9,128
9,188
9,580
5,627
5,886
6,436
110,690
110,923
110,873
99,146
99,036
98,979
78.8
78.8
78.6
52.7
52.9
53.0
54.2
54.5
53.7
11,544
11,887
11,894
5,710
5,847
5,836
3,814
3,995
4,026
2,020
2,045
2,032
9,907
10,115
10,171
6,445
6,344
6,367
January
February
March
110,677
110,688
110,735
99,154
99,172
99,316
78.2
78.2
78.2
53.0
52.9
52.9
53.5
53.1
53.2
11,523
11,516
11,419
5,623
5,717
5,595
3,979
3,933
3,891
1,921
1,866
1,933
9,811
9,865
9,744
6,678
6,362
6,169
April
May
June
110,975
110,950
111,905
99,606
99,762
100,743
78.4
78.4
78.7
52.9
52.8
53.2
53.0
52.6
54.7
11,369
11,188
11,162
5,682
5,583
5,352
3,780
3,748
3,837
1,907
1,857
1,973
9,727
9,514
9,332
6,077
5,965
5,886
July
August
September
111,825
112,117
112,229
101,225
101,484
101,876
78.7
78.6
78.6
53.1
53.3
53.4
53.7
54.4
53.8
10,600
10,633
10,353
5,217
5,150
5,065
3,524
3,598
3,512
1,859
1,885
1,776
8,985
8,964
8,747
5,700
5,866
6,027
October
November
December
111,866
112,035
112,136
101,970
102,606
102,941
78.4
78.4
78.3
53.2
53.2
53.2
52.8
53.3
53.7
9,896
9,429
9,195
4,809
4,596
4,392
3,366
3,215
3,181
1,721
1,618
1,622
8,319
7,900
7,658
5,724
5,848
5,712
January
February
March
112,215
112,693
112,912
103,190
103,892
104,140
78.3
78.4
78.3
53.0
53.3
53.4
53.0
53.9
54.2
9,026
8,801
8,772
4,300
4,128
4,020
3,182
3,120
3,144
1,543
1,553
1,608
7,532
7,283
7,301
5,943
5,808
5,463
April
May
June
113,245
113,803
113,877
104,402
105,288
105,748
78.3
78.3
78.4
53.7
54.2
54.0
54.4
54.4
54.7
8,843
8,514
8,130
4,095
3,861
3,755
3,186
3,124
2,955
1,562
1,529
1,419
7,398
7,058
6,524
5,593
5,353
5,491
July
August
September
113,938
113,494
113,699
105,395
104,969
105,239
78.3
78.3
78.3
54.1
53.8
53.5
54.4
52.3
54.3
8,543
8,526
8,460
3,906
3,853
3,875
3,173
3,264
3,053
1,464
1,409
1,532
7,061
6,980
6,986
5,300
5,324
5,496
May
June
..
July
August
September
..
October
November
December
1983
1984
October
November
December
See note on page 80.
Graphs of these series are shown on page 51.
OCTOBER 1984
OTHER IMPORTANT ECONOMIC MEASURES
£) I GOVERNMENT ACTIVITIES
|Q DEFENSE INDICATORS
Qj RECEIPTS AND EXPENDITURES
Year
and
month
Advance measures of defense activity
State and local governments '
Federal Government '
517. Defense
Department
gross obligations incurred
525. Defense
Department
military prime
contract
awards
543. Defense
Department
gross unpaid
obligations
outstanding
548, Value of
manufacturers'
new orders,
defense
products
(Mil. dol.)
(Mil. dol.)
(Mil. dol.)
(Mil, dol.)
9,756
13,761
9,870
98,818
102,677
105,418
6,987
6,639
6,917
20,793
17,786
17,503
10,518
9,657
14,296
108,428
108,841
109,654
6,386
5,273
5,752
412.6
17,669
16,448
18,387
8,610
8,928
10,296
110,885
110,787
111,85?
5,055
5,762
4,149
451.6
420.2
16,476
18,599
24,396
5,423
10,209
17,298
111,866
113,647
119,788
5,978
5,769
10,410
34 ."l
458.' 3
424. *2
21,340
19,502
20,444
16,908
13,042
7,351
122,628
123,803
125,570
9,419
5,105
6,751
816.'?
43,9
473*5
429. '5
19,332
19,554
21,518
10,132
10,111
10,814
126,165
126,532
129,720
7,309
4,805
7,692
640*. 2
82l'i
47^4
486. 'i
438.'7
19,409
20,489
20,388
11,017
10,727
10 9 921
131,172
130,829
133,056
6,750
5,103
5,154
-ISO*. 5
655*. 0
835 '.5
5i!2
495'6
443.* 8
17,201
24,242
24,204
2 9 820
16,140
9,463
131,130
139,062
141,820
6,566
9,004
7,600
January
February
March
-isi.'s
686.4
847*6
53*9
509! 6
455*.?
21,145
22,667
23,445
15,089
14,273
13,779
142,169
145,648
150,842
6,608
7,289
11,539
April
May
June
-163.'?
704.3
868.0
54.5
520.6
466.1
19,185
20,342
19,781
11,398
9,459
11,644
149,369
149,452
151,538
6,248
5,679
6,990
(NA)
p888.*8
(NA)
(NA)
p477*5
20,988
p23,098
10,101
12,647
152,828
156,271
7,215
r7,584
p5,886
500. Surplus
or deficit
501. Receipts
502. Expenditures
510. Surplus
or deficit
511. Receipts
512. Expenditures
(Ann. rate,
bil. dol.)
(Ann. rate,
bil. dol.)
(Ann. rate,
bil. dol.)
(Ann. rate,
bil. dol.)
(Ann. rate,
bil. dol.)
(Ann. rate,
bil. dol.)
-106*3
622*9
729~3
32.5
430. 'l
397*6
19,361
20,608
18,869
April
May
June
-112*.6
625*9
737.' 9
34*4
440 .'l
405 .'7
July
August
September
-163!?
609*9
773*6
33.3
445.*9
October
November , , . , . . ,
December
-210*6
608.3
818.9
31.5
January
February
March . . . . . . . . . .
-185*7
619*8
805*6
April
May
June
-16?'3
649*3
July
August . . . . . .
September
-180*9
October
November
December
1982
January
February
March
...
.
1983
1984
July
August
September
(NA)
(NA)
(NA)
(NA)
October
November . . . . . . .
December
See note on page 80.
Graphs of these series are shown on pages 52 and 53.
^asod on national income and product accounts.
90
OCTOBER 1984
OTHER IMPORTANT ECONOMIC MEASURES
GOVERNMENT ACTIVITIES—Continued
Q DEFENSE INDICATORS-Continued
National defense
purchases
Intermediate and final measures of defense activity
Year
and
month
557. Output of
defense and
space equipment
559. Manufacturers' inventories, defense
products
561. Manufacturers' unfilled
orders, defense
products
580. Defense
Department
net outlays
(1967 = 100)
(Mil. dot.)
(Mil.dol.)
{Mil.dol.)
588. Manufacturers' shipments, defense
products
570. Employment in defense products
industries
(Mil.dol.)
(Thous.)
Defense Department
personnel
577. Military,
active duty ©
578. Civilian,
direct hire
employment ®
(Thous.)
(Thous.)
564. Federal
purchases of
goods and
services
(Ann. rate,
bil. dol.)
565. Federal
purchases as
a percent of
GNP
(Percent)
1982
January
February
March
105.2
106.5
107.0
13,677
13,841
14,024
81,014
83,275
85,687
14,152
14,689
15,075
4,110
4,378
4,505
1,386
1,380
1,377
2,104
2,109
2,107
1,008
1,013
1,018
168*.4
5.6
April
May
June
107.2
107.7
107.6
14,172
14,251
14,421
87,763
88,318
89,149
15,670
15,379
15,334
4,311
4,717
4,921
1,375
1,370
1,368
2,106
2,104
2,108
1,022
1,028
1,045
175.3
5^7
July
August
September
109.5
109.5
109.5
14,473
14,714
15,092
89,432
90,418
89,575
16,312
15,050
16,881
4,772
4,776
4,992
1,368
1,358
1,360
2,110
2,109
2,109
1,051
1,043
990
183*. 3
6.'6
October
November
December
111.9
113.6
115.9
15,402
15,594
15,938
90,534
91,326
96,654
15,972
17,087
16,779
5,020
4,977
5,082
1,356
1,354
1,350
2,108
2,114
2,113
1,016
1,024
1,027
19l!6
e.'i
January
February
March
116.4
116.1
117.0
16,545
16,458
16,774
100,886
100,716
102,234
17,058
16,772
16,804
5,187
5,275
5,233
1,344
1,346
1,342
2,120
2,122
2,127
1,024
1,028
1,030
194^7
e.'i
April
May
June
118.2
117.6
118.0
16,782
17,185
17,295
104,234
103,804
106,114
17,529
16,854
17,189
5,309
5,235
5,382
1,345
1,349
1,354
2,123
2,120
2,116
1,029
1,040
1,049
199.3
e!i
July
August
September
120.4
120.2
121.8
17,400
17,803
17,508
107,287
106,908
106,596
16,975
18,455
17,463
5,577
5,482
5,466
1,361
1,344
1,364
2,113
2,115
2,123
1,053
1,052
1,026
200.9
e!6
October
November
December
122.9
124.0
125.7
17,358
17,363
17,759
107,522
110,839
112,761
17,781
17,329
18,726
5,640
5,687
5,678
1,369
1,369
1,378
2,120
2,126
2,124
1,034
1,040
1,045
207*.2
6.'6
128.3
129.5
130.1
17,812
18,217
18,537
113,650
115,087
120,894
18,448
17,801
17,794
5,718
5,852
5,731
1,382
1,391
1,400
2,130
2,135
2,140
1,042
1,043
1,046
213.4
6.0
April
May
June
133,2
133.1
.r!33.5
13,925
19,492
19,989
121,158
121,088
122,100
18,525
18,609
18,953
5,985
5,749
5,977
1,408
1,420
1,433
2,138
2,141
2,143
1,049
1,061
1,071
220.8
e!i
July
August
September
r!35.9
r!36.4
p!37.7
20,776
p21,263
123,319
r!24,774
p!24,783
18,405
r!9,181
p!9,462
5,993
r6,129
p5,875
rl s 443
pi, 444
2,142
2,144
p2,138
1,079
1,074
pi, 043
p225*.4
pe!i
1983
1984
January
February
March
(NA)
(NA)
October
November
December
See note on page 80,
Graphs of these series are shown on pages 54 and 55,
IN:
OCTOBER 1984
91
OTHER IMPORTANT ECONOMIC MEASURES
E I
U.S. INTERNATIONAL TRANSACTIONS
Q MERCHANDISE TRADE
602. Exports, excluding
military aid shipments,
total
Year
and
month
(Mil.dol.)
604. Exports of domestic agricultural
products
(Mil.dol.)
606. Exports of non*
electrical machinery
(Mil.dol.)
612. General imports,
total
(Mil.dol.)
614. Imports of
petroleum and
petroleum products
(Mil.dol.)
616. Imports of
automobiles and parts
(Mil.dol.)
1982
January
February
March
18,584
18,614
18,462
3,258
3,590
3,225
4,346
4,054
3,997
22,573
19,570
20,018
6,810
4,396
4,290
2, ,389
2, ,135
2,596
April
May
June
18,005
18,124
18,823
3,400
3,527
3,332
3,932
3,957
4,211
17,714
20,477
21,187
3,894
4,180
4,855
2,389
2,785
2,626
July
August
September
18,060
17,463
17,320
2,789
2,763
2,648
4,305
3,856
4,197
19,849
22,930
20,581
5,624
5,731
4,903
2/55
2,795
2,370
October
. . .
November
December
16,671
15,852
16,347
2,681
2,783
2,637
3,829
3,686
3,719
21,006
18,892
19,154
5,433
4,757
4,694
2,444
2,130
2,189
January . . . . . . . .
February . . . . . . . .
March . . . . . . . . . .
17,232
16,312
16,690
3,128
2,985
2,811
3,644
3,359
3,499
20,127
18,804
19,528
4,166
2,859
3,261
2,329
3,019
2,676
April
May
June
16,095
15,655
16,959
2,891
2,715
2,977
3,513
3,433
3,265
19,914
21,446
20,916
3,252
5,284
4,203
2,746
3,001
2,851
July
August
September
16,486
16,582
17,257
3,072
2,973
3,322
3,655
3,290
3,718
21,828
22,714
22,451
5S220
4,828
5 S 538
2,988
2,762
2,547
October
November .
December . . . ,
17,033
17,063
17,298
2,979
3,109
3,175
3,689
3,686
3,683
24,333
23,115
22,976
5,232
5 S 036
3,713
3,154
3,425
3,724
18,326
17,212
17,727
3,457
3,198
3,336
4,009
3,848
3,764
26,586
26,147
26,771
4,456
4,258
5,287
3,776
3,323
3,728
17,522
17,950
17,633
3,030
3,245
2,715
3,811
3,976
3,746
28,368
25,569
25,356
6,348
4,783
4,671
4,011
3,682
3,630
19,442
18,036
3,236
3,022
3,790
3,878
31,883
26,567
5 S 103
4,049
4,010
3,648
(NA)
(NA)
(NA)
(NA)
1983
1984
January , .
February ,
March . . . . .
April .
May
June
...
July
August
September
(NA)
(NA)
October
November
December . . . . . . .
See note on page 80.
Graphs of these series are shown on page 56.
92
OCTOBER 1984
OTHER IMPORTANT ECONOMIC MEASURES
U.S. INTERNATIONAL TRANSACTIONS—Continued
^J GOODS AND SERVICES MOVEMENTS (EXCLUDING TRANSFERS UNDER MILITARY GRANTS)
Merchandise, adjusted '
Goods and services
Year
and
month
667. Balance
(Mil.dol.)
668. Exports
(Mil.dol.)
669. Imports
(Mil.dol.)
622. Balance
(Mil.dol.)
618. Exports
(Mil.dol.)
Income on investments
620. Imports
(Mil.dol.)
651. U.S. investments abroad
(Mil.dol.)
652. Foreign
investments in
the United
States
(Mil.dol.)
1982
January
February
March
2,270
90,082
87,8i2
-7,064
55,482
62,546
20,889
13,653
April
May
June
3,729
91,274
87,545
-5,803
55,118
60, 92i
22,307
14,772
July
August
September
-3,231
87,158
90,389
-12,363
52,079
64,442
21,505
14,390
October
November
December
-3,908
80,936
84,844
-11,239
48,519
59 , 758
19,162
13,243
January
February
March
-1,370
81,111
82,481
-9,277
49,246
58,523
17,618
12,380
April
May
June
-7,712
81,355
89,067
-14,870
48,745
63,615
18,973
12,995
July
August
September
-9,703
84,826
94,529
-17,501
50,437
67,938
20,802
13,630
October
November
December
-14,127
84,910
99,037
-19,407
51,829
71,236
19,609
14,490
-17,526
90,689
108,215
-25,855
53,935
79,790
23,300
15,552
p-22,301
p88,745
pill, 046
p-25,736
p54,597
p80,333
p20,618
p!6,956
1983
1984
January
February .
March
April
May
June
July
August
September
(NA)
(NA)
(NA)
(NA)
(NA)
(NA)
(NA)
(NA)
October
November
December
See note on page 80.
Graphs of these series are shown on page 57.
Balance of payments basis: Excludes transfers under military grants and Department of Defense sales contracts (exports) and Department
of Defense purchases (imports).
OCTOBER 1984
93
OTHER IMPORTANT ECONOMIC MEASURES
INTERNATIONAL COMPARISONS
Q| INDUSTRIAL PRODUCTION
721. OECD l
European countries, index of
industrial
production
728. Japan,
index of industrial production
725. West
Germany, index
of industrial
production
(1967-100)
(1967-100)
(1967-100)
(1967-100)
140,7
142,9
141,7
153
154
154
232.7
231.4
233.4
153
154
156
April
May
June
140.2
139.2
138,7
153
153
151
230.5
228.2
231,4
July
August . . . .
September . . . . , , .
138.8
138.4
137.3
150
148
150
October
November
December
135.7
134.9
135.2
January
February . „
March
47. United States,
index of industrial production
Year
and
month
726. France,
index of industrial production
722. United
Kingdom, index
of industrial
production
727. Italy, index
of industrial
production
723, Canada,
index of industrial production
(1967 = 100)
(1967-100)
(1967-100)
157
155
155
118
118
118
161.9
169,9
165.6
155.5
153.8
152.2
154
153
151
157
157
157
119
120
119
164.7
162.7
154.9
149.4
150.2
147.0
230.5
230.7
231,8
148
150
148
154
154
154
119
120
120
159.6
146.4
154.0
142.4
148.6
144.6
148
150
148
225.7
230.7
228,4
146
146
145
155
157
154
120
118
120
149.8
155.4
151.9
140.5
141.1
140,3
137.4
138.1
140,0
150
150
150
229.5
228,0
232,7
146
148
150
157
155
155
122
122
120
152.0
152.2
149.4
147.7
147.6
148.3
April
May . . . .
June
142.6
144.4
146,4
150
151
r!53
233.0
235.2
235,9
150
150
r!56
155
160
157
122
123
120
142.1
144,4
144.4
150.0
151.7
155.0
July
August
September
149.7
151,8
153.8
153
153
153
236.4
242.3
245.0
150
r!50
153
160
160
157
124
124
124
153.8
148.9
148.3
156.9
159.1
162.0
October
November
December , . . . , , .
155.0
155.3
156.2
153
156
154
244.5
247.7
250.9
r!54
156
r!57
155
160
160
125
125
127
150.2
154.0
149.3
162.7
164.1
165.3
158.5
160.0
160.8
r!56
r!56
156
251.4
260,2
256.4
r!57
159
154
160
157
160
r!25
125
124
151,9
150.4
155.9
168.4
163.2
165.3
June
162.1
162.8
r!64.4
r!54
156
151
257.7
263.9
r265.2
r!54
156
140
157
162
160
123
122
122
149.4
152.7
r!56.2
165.9
r!67.1
r!68.3
July
August
September
r!65.9
r!66.1
p!65.1
p!58
(NA)
265.9
p267.7
(NA)
161
p!57
(NA)
p!62
(NA)
p!20
(NA)
p!54.1
(NA)
ri74,2
P173.3
(NA)
(1967-100).
1982
January
February
March
.
1983
1984
January . , ,
February . . .
March . . . .
April
May . ,
October
November
December
See note on page 80.
Graphs of these series are shown on page 58.
Organization for Economic Cooperation and Development.
94
OCTOBER 1984
Ill It
OTHER IMPORTANT ECONOMIC MEASURES
INTERNATIONAL COMPARISONS—Continued
Q CONSUMER PRICES
Japan
United States
Year
and
month
320. Index ©
(1967-100)
320c. Change
over 6-month
spans '
(Ann. rate,
percent)
738. Index ®
(1967-100)
West Germany
738c. Change
over 6-month
spans '
735. Index ©
France
735c. Change
over 6-month
spans '
736. Index (u)
(Ann. rate,
percent)
(1967-100)
192.3
192.8
193.1
3.0
3.5
4.9
356.0
359.6
363.8
2.9
4.0
194.0
195.2
197.1
4.9
5.4
6.3
368.2
371.1
373.7
(Ann. rate,
percent)
(1967 = 100)
United Kingdom
736c. Change
over 6-month
spans '
(Ann. rate,
percent)
732. Index ®
732c. Change
over 6-month
spansl
(1967 = 100)
(Ann. rate,
percent)
499.0
499.1
503.5
8.4
7.3
6.0
9.9
8.2
7.2
513.6
517.3
518.9
6.0
6.0
4.7
5.8
6.9
7.3
518.9
519.0
518.7
5.3
5.3
4.2
9.5
1982
January
February
March
282.5
283.4
283.1
3.5
4.4
6.0
300.7
299.8
300.4
April
May
June
284.3
287.1
290.6
6.2
6.2
6,6
302.9
303.8
303.8
July
August
September
292.2
292.8
293.3
6.6
4.7
1.8
301.5
303.8
309.1
4.4
4.1
3.7
197.6
197.3
197.9
6.8
5.9
4.0
374.7
375.9
377.5
October
November
December
294.1
293.6
292.4
1.4
0.7
0.8
310.0
306.6
306.0
4.0
0.7
0.9
198.5
198.9
199.4
2.7
2.3
2.3
379.5
383.2
386.4
10.3
10.8
521.3
523.9
522.9
4.0
5.6
4.6
January
February
March
293.1
293.2
293.4
1.4
2.3
3.3
306.6
305.5
307.5
1.7
0.5
199.8
200.0
201.2
1.4
1.5
1.9
390.1
392.9
396.5
12.3
11.2
10.2
523.5
525.8
526.7
2.3
1.7
2.8
April
May
June
295.5
297.1
298.1
3.4
4.3
5.0
308.6
312.0
309.7
0.7
1.7
0.3
201.7
202.2
202.9
3.4
4.8
4.5
401.8
404.5
406.9
9.8
9.7
9.6
534.1
536.4
537.7
4.5
4.3
6.1
July
August . . .
September
299.3
300.3
301.8
4.4
4.2
4.3
308.3
307.4
311.4
3.2
1.9
3.1
203.6
204.3
204.9
5.0
4.4
4.4
410.4
412.8
416.0
8.6
8.3
8.4
540.6
543.0
545.4
7.7
7.4
7.7
October
November
December
302.6
303.1
303.5
4.8
4.8
4.5
314.2
312.2
311.4
3.0
4.2
4.5
204.9
205.2
205.7
3.4
2.6
1.8
419.2
420.9
422.4
8.3
8.2
7.5
547.3
549.2
550.7
6.0
5.0
4.6
January
February
March . .
305.2
306.6
307.3
4.6
4.3
4.1
312.3
314.2
315.1
1.7
2.3
1.1
206.6
207.1
207.3
1.2
1.6
1.5
425.4
428.0
431.0
6.8
7.0
7.1
550.4
552.6
554.4
3.3
2.9
2.9
April
May
June
308.8
309.7
310.7
3.4
3.6
3.9
315.9
318.2
315.6
2.3
207.7
207.8
208.6
1.0
0.7
1.1
433.6
436.2
438.4
6.8
7.0
561.8
563.9
565.3
3.2
5.1
5.0
July
August
September
311.7
313.0
314.5
1.9
0.5
0.1
-0.5
13.0
12.0
12.0
1983
-0.3
1984
316.2
313.4
(NA)
-0.3
(NA)
208.2
207.8
208.0
441.5
443.7
(NA)
(NA)
564.7
570.0
571.1
October
November
December
See note on page 80,
Graphs of these series are shown on page 59.
Changes over 6-month spans are centered on the 4th month.
OCTOBER
1984
95
OTHER IMPORTANT ECONOMIC MEASURES
INTERNATIONAL COMPARISONS—Continued
Q STOCK PRICES
Q CONSUMER PRICES-Continued
Year
and
month
Italy
Canada
737. Index ® 737c. Change
over 6-month
spans '
733. Index © 733c. Change
over 6-month
spans '
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,
in^ex of
(1967-100)
(1967-100)
(1967-100)
(1967-100)
(1967-100)
(1967-100)
G967-10Q)
StKk
prices ©
(1967-100)
(Ann. rate,
percent)
(1967-100)
(Ann. rate,
percent)
January
February
March
517.7
524.4
529.1
13.8
13.6
13.1
288.7
292.1
295.8
10.5
11.4
11.4
127.6
124.6
120.6
518.9
516.9
486.2
116.8
118.4
120.1
185.7
193.1
145.9
291.1
300.1
298.8
95.0
98.8
104.2
185.3
176,7
173.1
April
May
June
533.9
539,8
545.2
15.9
19.0
18.7
297.5
301.5
304.5
11.1
10.2
9.5
126.5
126.6
119.7
484.5
503.4
489.6
120.6
117.6
114.2
184.8
183.3
166.3
303.2
315.4
314.6
96.7
91.0
83.1
171.2
168.4
153.8
July
August
September
553.4
563.4
571.3
20.6
19,8
19.1
306.1
307.6
309.2
9.4
8.2
7.2
119.0
119.3
133.2
480.8
474.3
481.6
113.5
112.3
115.6
161.1
169.3
168.4
313.2
320.1
343.5
78.4
86.1
85.8
156.8
177.4
177.3
October
November
December
582.7
590.3
594.4
16.7
13.7
14.4
311.2
313.3
313.4
5.7
4.7
5.0
144.3
150.2
151.6
490.4
512.7
528.2
118.2
118.8
124.3
170.7
174.5
169.9
360.7
372.0
365.0
86.4
88.8
91.2
192,6
189,7
199.5
January
February
March
602,7
610.5
616.0
12.9
13.2
13.1
312.5
313.9
317.1
3.8
2.8
3.8
156,9
159.7
165.2
533,3
530.8
544.2
126.0
131.9
143.9
181.8
188.5
204.7
371.9
381.6
388.3
95.5
109.1
118.7
210,0
216.6
219.5
April
May
June
622.2
628.2
632.2
14.0
13.6
13.6
317.1
317.9
321.5
5.5
6.3
4.9
171.6
178,5
181.0
559.7
573.4
583.3
157.0
158.6
159.5
215.6
230.0
224.9
410.4
403.7
426.1
115.8
111.6
110.3
240.0
251,8
260.2
July .
August
September
638.5
641.1
649.4
13.6
12.5
12.0
322.9
324.5
324.5
5.8
5.7
5.3
181.6
176.7
181.8
598.7
606.4
619.7
169.0
166.9
164.7
235.6
251.8
257.1
418.9
431.8
422.6
112.9
120.5
118.4
264.3
267.3
272.0
October
November
December
660.4
667.0
670.3
11.1
11.0
11.1
326.5
326.5
327.5
5.4
4.9
4.4
182.4
179.7
178.8
621.0
621.5
638.$
173.4
176.7
179.2
257.3
273.7
282.8
411.2
424.1
432.6
111.6
112.7
112.8
251.1
273.6
268.6
January
February
March
678,3
685.8
690.6
10.7
10.7
11.1
329.2
331.1
331.9
4.3
4.2
3.0
181.0
171.1
171.3
687.6
699.6
736.1
185.3
182.3
173.4
315,0
300.8
261.1
457.2
457.2
485.3
125.3
128.7
128.5
259.5
259.5
260,0
April
May
June
695.4
699.6
703.8
10.0
9.8
8.3
332.7
333.3
334.7
2.9
2.5
3.2
171.4
170.3
166.6
776.0
744.6
711, a
177.9
178.0
175.8
285.4
277.1
272.3
495.0
489.6
468.7
124.9
122.5
119.6
252,0
P245.6
p242.6
July
August
September
705.9
708.0
713.0
164.3
178.9
180.7
701.3
728.8
rp739.8
167.2
172.0
rpl80.6
256.5
p260.3
rp274.6
447.5
478.6
497.0
121.4
12B.7
127.6
p234.0
p252.S
rp256,6
p!78,4
p752.4
p!88.3
p281.5
p502.0
p!26.7
p257.6
1982
!
1983
1984
336.6
336.6
336.9
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.
96
OCTOBER 1984
C. Historical Data for Selected Series
Year
IQ
50.
1 950
1 95 1
1952
1953
1 954
1955
1956
1 957
1958
1 95 9 ....
1 960
1961
1 962
1 963
1964
1965
. .
1 966
1 967
1 96 8
1969
1970
1971
1972
1973
1 974
1975
1976
1 977 ....
1 97 8
1 97 9
1 980
1 981
1 982
1 983
1984
50C.
II Q
III Q
IV Q
GROSS NATIONAL P R O D U C T IN 1 9 7 2 DOLLARS
( A N N U A L RATE, B I L L I O N S OF D O L L A R S )
512.6
564.4
593.7
623.2
610.5
644.1
666.8
683.5
665.5
711.5
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
1513.5
1483.5
1491.0
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
1088.8
1083.0
1116.9
1178.5
1248.3
1254.7
121 8.9
1293.7
1363.3
1437.0
1469.2
1461 .4
1511.7
1480 .5
1524.8
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
1246.8
1246.1
1301.1
1385.8
1448.8
1486.6
1464,2
1522.1
1477.1
1550.2
1961
1 962
1963
1964
1965
1 966
1967
1968
1969
1 970
1971
1972
1 973
1 974
1975
1 976
1 977
1 97 8
1979
1980
1981
1 982
1 983
1984
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
-8.2
9.1
8.9
3.4
1.1
1.9
10.0
-4.6
3.3
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
-0.5
-0,8
9.4
IQ
Year
50B.
AVERAGE
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
956.8
996.6
1027.3
1071.8
1085.6
1084.7
1135 .4
1214.8
1266.1
1230.3
1257 .3
1313.1
1388.4
1468.4
1489.3
1477.9
1501.3
1478,8
1572.7
C H A N G E FROM P R E C E D I N G P E R I O D IN GNP , 1972 DOLLARS
( A N N U A L RATE, P E R C E N T )
1 950
1 95 1
1 952 ....
1953
1 954
1 955
1 95 6
1 957
1958
1 959
Annual
13.9
8.6
4.2
-2.4
5.9
6 .3
0.3
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
2.8
-0.9
6.8
534.8
579.4
600 . 8
623.6
616.1
657 .5
671 .6
683.8
680.9
721.7
737 .2
756.6
800.3
832.5
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
1512.2
1480.0
1534.7
1 950
1951 ....
1952
1953
1954
1955
1956 ....
1957. ....
1958
1959
I960
1961
1962
1963
1 964
1 965
1966
1967
1968
1969
1970
1 971
1972
1973
1974
1975
1976
1977
1978
1979
1980
1981
1982
1983
1984
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
2.5
-2.1
3.7
III Q
IV Q
21.8
8.1
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
28.2
11.6
4.2
5.6
35.6
-17.8
12.2
13.8
11.5
0.
5.
-2 .
9.
3.
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
-1.8
-3.0
33.8
17.4
12.0
6.2
-3.9
8.8
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
8.8
14.6
7.5
-7.9
27.2
7.4
22.5
11.8
17 .4
2.8
10.4
-3.4
25.4
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
8.7
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
-20.8
1 .7
22.5
200. GROSS N A T I O H A L P R O D U C T IN C U R R E N T DOLLARS
( A N H U A L RATE, B I L L I O N S OF D O L L A R S )
PERCENT
CHARGE 1
9.5
0.8
9.7
-3 9
7.7
3.8
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
3.8
-5.4
0.5
5.9
II Q
I I P P E R E N C E FROM P R E C E D I N G PERIOD I N G N P , 1 9 7 2
DOI
1950
1951
1952
1 953 ....
1954
1 955
1956 .....
1957
1958
1959
I 9 6 0 ....
1961
1962
1 963
1964
1965
1966
1967
1968
1969
1970
1971 ....
1972
1973
1974
1975
1976
1977
1978
1979
1 980 ....
1981
1982
1 983 ....
1984
67.6
20.4
41.9
66.1
62.5
88.2
12.8
40.2
436.8
477.0
506.9
508.2
554.2
582.0
625.3
668.8
738.5
780.7
841.2
921.2
972.0
1049.3
1142.4
1283.5
1387.7
1479.8
1672.0
1834.8
2031.7
2335.5
2572.9
2875.8
3026.0
3173.8
277.1
328.3
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
681.7
750.0
788.6
867.2
937.4
986.3
1068.9
1171.7
1307.6
1423 .8
1516.7
1698.6
1895.1
2139.5
2377.9
2578.8
2918.0
3061.2
3267.0
294.8
335.0
347.8
368.4
366.7
404.8
423,5
449.4
453.9
489.0
508.0
528.2
568.9
601.8
642.8
696.4
760.6
805.7
884.9
955.3
1003.6
1086.6
1196.1
1337.7
1451.6
1578.5
1729.0
1954.4
2202.5
2454.8
2639.1
3009.3
3080.1
3346.6
1950
1951
1 952
1953
1954
1955
1 956
1 95 7
1 95 8
1959
1 960
1961
1962
1963
1 964
1 965
1 966
1 967
968
96 9
970
971
972
973
974
1975
1976
1977
1978
1979
1980
1981
1982
1983
1984
..
.
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.
8.
8.
12.
11.
7.9
26.0
16.2
14.3
19.6
29.3
24.1
36.1
36.
26 .
60 .
107 .
42.
5.
42 .
35.
93.2
17.7
6.7
5.7
-1.0
4.4
8.6
5.1
7.1
13.2
-1.6
1 .7
9.0
6.2
11.1
8.8
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
91.3
18.9
79.6
11.5
4.2
12.2
-5.3
8.9
6.2
8.6
-5.4
13.1
6.0
-3.2
14.4
5.4
10.6
6.0
20.8
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
18.6
29.5
85.1
28.2
44.3
17 .2
18. 8
0.0
33 .2
21.7
22.3
5.7
38.2
18.6
18.1
40.4
31.7
41 .0
53 .4
64.9
43 .6
73 .8
70.6
48.7
84.9
108.3
140.5
107.8
115.0
168.8
200.3
245 .6
253.9
213.9
326.1
111.5
235.5
NOTE: These series contain revisions beginning with 1981.
Year-to-year differences and percent changes are computed from annual data.
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.
1984.
,.
..
..
..
..
..
,.
..
..
,.
..
..
..
..
..
..
,.
..
..
..
..
..
..
..
..
..
..
..
..
..
..
..
..
..
..
17.9
19.7
3.2
7.0
-0.7
14.1
1 .7
7 .7
-6.3
8.9
10.0
2.7
8.9
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
9.8
11.7
22.1
-0.2
8.5
15.0
10.2
0.3
3.7
-0 .2
8.5
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 . 8
10.4
6.5
13 .8
23 .0
7.5
0.9
6.0
4.7
12 .3
28.0
8.5
6.8
-1.1
5.0
9.0
4.9
6.6
12.5
-1.3
1.4
7.1
4.4
7.7
5.7
8.9
5.8
9.0
8.4
7.9
7,2
6.8
8.6
9.6
8.0
17.3
7.3
13.1
12.3
13.6
9.7
13.1
2.5
10.1
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
36.8
63.5
68.4
-8.0
-14.7
66.6
71.5
68.9
40.8
-4.4
37.2
-32.2
54.7
286.5
330.8
348.0
366.8
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
1718.0
1918.3
2163.9
2417.8
2631.7
2957.8
3069.3
3304.8
PERCENT 1
CHANGE
( A N N U A L R A T E , B I L L I O N S OF D O L L A R S )
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
139.8
-1.9
64.2
DIFFERENCE'
AVER'AGE
306 .3
339.2
360.0
363.1
375 .6
411.0
432.1
444.0
467.0
495,0
504.8
542.6
574.3
612.4
648.8
717.2
774 . 9
823.3
900.3
962.0
1009.0
1105.8
1233.5
1376.7
1473.8
1621.8
1772.5
1988.9
2281 .6
2502.9
2736.0
3027 . 9
3109.6
3431.7
200C. C H A N G E FROM P R E C E D I N G P E R I O D IN G N P ,
DOLLARS
Annual
16 .6
5.1
14.8
-5 .6
10.0
6.3
8.4
-4.8
12.1
5.0
-2.5
11.3
3.9
7.3
3.8
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
15.2
8.1
15.5
2.5
3.9
10.6
10.9
15,5
5.2
5.4
0.0
9.0
5.4
5.3
1.3
8.5
3.8
3.6
7.7
5.6
6.9
8.4
9.4
5.8
9.2
8.1
5.2
8.6
10.1
11.8
8.1
8.0
10.9
11.7
12.8
11.7
8.8
12.4
3.8
7.7
(OCTOBER 1984)
1
97
C. Historical Data for Selected Series—Continued
Year
IQ
II Q
III Q
IV Q
213. F I N A L SALES I N 1 9 7 2 D O L L A R S
( A N N U A L SATK, B I L L I O N S OF DOLLARS)
1930
1 95 1
1 9§2
1 953
1954
1 955
1956
1957
195 8
1 959
1 fl60
1961
1 9^2
1963
1 964. ....
1 965
1966
1967
1968
H)69
1970
1971
1 972
1973
1 974
1975
1976
1977
1978 ....
1979
I960
1982
1 983
1 9 84
308.2
550.9
§86. 4
619.2
613.9
638.2
639.3
681.0
672.3
706.0
728.0
741.8
778.8
807,6
857.3
891.9
959.8
983.3
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
1505.4
1490.3
1507.3
518.7
556.0
§97.0
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
1499.4
1484.5
1530,9
535.8
573,3
595.1
622.5
619.6
655.4
665,9
684.8
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
1 2 9 3 .8
1367.0
1435.5
1481.9
1474.4
1504.6
1483.5
1549.3
AVERAGE
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
1494.0
1503.4
1565.4
220. NATIONAL INCOME IN CURRENT DOLLARS
( A N N U A L S A T E , B I L L I O N S OF D O L L A R S )
1950
1 951
1952
1953
1 954
1 955
195$
1957
1 958
1959
I960
1 961
1962
1963
1964
1965
1 96§
1 967
1958
1969
1970
1971
1 972
...
.
1974
1975
1976
1977
1 97 g
1 97 9
1980
1981
1982
1983
1984
219.1
265.9
282B?
303.0
297,1
319.7
342,3
363.0
357 .5
392.7
416.5
414. 8
453.4
476,2
511.9
§53.8
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
2299.4
2422.3
2527,0
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
485.2
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
2330.6
2443,9
2609.0
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
2407 .8
2 4 5 2 .4
2684.4
361.5
365=7
375.1
395.5
399.8
414.8
441.0
452.7
452,2
474.4
480.2
493,6
519.4
533.5
563.5
599,4
639.8
665.0
690.5
710.5
73V.4
771.1
792.0
855.2
860.2
84,'j , 1
899. §
919.5
973.4
ion .1
1025.8
1042,5
1052.8
1073.1
359.4
373.7
379.0
401.2
397.5
423.7
444.5
455.5
454.9
482.2
490.9
500.6
5 2 4 .1
538.7
579.5
607 .4
642 .1
671.1
702.2
716,8
752.5
779.9
798.7
862.3
859.7
891.4
904.1
933.9
982.8
1011.7
1012.0
1040.7
1054.8
1082 .0
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
2417.6
2468.6
2766.5
362,2
375.6
387.3
399.7
403.9
430.8
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
1058.1
1057.9
1102 .2
NOTE:' These series contain revisions beginning with 1981.
524.2
565.6
596.5
622.1
618.2
649.8
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
1500.9
1490.4
1538.3
AVERAGE
2 2 5 . DISPOSABLE PERSONAL INCOME IN 1972 DOLLARS
( A N N U A L RA'CE, B I L L I O N S O F D O L L A R S )
1950
1951
1952
1 953
1 954 , , ,
1 955 , , . ,
19S6
1 957 . . . .
1 95g
1 95 9
1960. . .
1961
1 9§2
L 963
1964
1965
1966
1967
1968
1 96 9 . . .
1 970 . .
1971
1972
1973
1974
1975
1976
1977
1978
1979
1980
1981
1982
1983
1984
Annual
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
1056.0
1067.6
1124.3
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
488.5
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
2363.8
2446.8
264'6.7
Year
1950
1951
1 952
1 953
1 954
1955
1956
1957
1958
1959
1960
1 ggi
1962
1963
1 964
1965
1 966
1 967 ... .
1968
1 969
1 970 .
1971
1972
1 973 ....
1974
1975
1976
1977
1978
1979
1 980
1981
1 982
1983
1984
III Q
IV Q
3,398
3,681
3,805
3,928
3,783
3,921
3,988
4,015
3,844
4,024
4,12?
4,03$
4,253
4,328
4,526
4,68?
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
6,603
6,408
6,379
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
6,580
6,381
6,510
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
6,607
6,349
6,602
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
4,458
4,596
4,900
3,047
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
6,500
6,341
6,681
224. DISPOSABLE PERSONAL INC0ME IN CURRENT DOLLARS
(ANNUAL RATE, B I L L I O N S OF DOLLARS)
1 950 .
1951
1952
1 953
1954
1955
1956
1957
1958
1 95 9
1 960
1961
1 962 . .
1963
1964
1965
1966
1967
1968
1 96 9
1 970
1971
1972
1973
1 974 . . .
1975
1976
1977
1978
1979
1980
1 981 . . . .
1 982 . . . .
1983
1984
201.7
220.4
231.1
248.8
255.0
265.8
285.9
303.7
312.4
331.7
34 8. .3
357.2
380.3
397.3
426.1
458.8
502.2
535.3
575*8
616.6
671 ,5
732t7
782+2
878.9
963*9
1035t2
1163,7
1255.2
1405,7
1587,5
1771 ,7
1972,5
2132.0
2261 y4
201 .2
225.5
233.9
253.0
254.3
272.1
290.4
307,4
314.5
339,0
352.3
362.5
385.6
402 .0
438.6
468.0
507.8
543.1
591.0
630.2
692.4
749,3
794.5
903.5
988.6
1105.2
1180.8
1291.9
1451.3
1624.0
1789.8
2 0 0 6 .0
2156.8
2302.9
208.6
227 .3
240.3
253.4
256.8
278.3
294.3
311.8
322.0
339.6
353.5
368.0
388.7
408.3
445 .7
482 .7
518.1
552.0
598.1
649.1
705.8
757,6
815.6
925.3
1012,7
1109.4
1203.3
1335.5
1496.2
1674,3
1846.0
2078.6
2195.8
2367.4
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
S61.3
608.8
659.9
711.5
767.4
1549.0
950.3
1028.1
1134.5
1229.6
1373.5
1542.7
1714.9
1908,0
2109.8
2237.5
2428.6
L I N C O M E IN
( A N N U A L R A T E , DC L L A R S )
AVERAGE
362.8
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
722.5
751.6
779.2
810.3
864.7
857.5
874.9
906.8
942.9
988.8
1015.7
1021.6
1049.3
1058.3
1095.4
II Q
IQ
217. PER CAPITA GROSS N A T I O N A L PRODUCT IN 1972 DOLLARS
( A N N U A L RATE, DOLLARS)
1 950 .....
1 95 1 . .
1 952 .
1953
1954
1955
1 956 . . . .
1957
1958
1959
1960
1961
1962
1963
1964
1965
1966
1967
1 968
196 9
1970
1971
1972
1973
1974
1975
1976
1977
1 978
1979
1980
1981
1982
1983
1984
2,396
2,385
2,404
2,493
2,477
2,525
2,638
2,660
,612
,683
,717
,703
,799
,833
,951
,098
,268
3,359
3,453
3,518
3,613
3,729
3,787
4,050
4,036
3,928
4,139
4,190
,390
,511
,524
,548
,548
4,591
2,374
2,427
2,420
2,520
2,453
2,569
2,648
2,665
2,617
2,717
2,722
2,731
2,815
2,852
3,025
3,131
3,271
3,381
3,503
3,541
3,676
3,761
3,810
4,074
4,025
4,134
4,151
4,246
4,422
4,502
4,451
4.S30
4,546
4,619
2,382
2,428
2,462
2,499
2,481
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
4,593
4,548
4,694
Annual
AVERAGE
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
§,649
§,918
§,826
5,702
§,953
6,218
6,462
6,572
6,478
6,572
6,3?0
6,543
AV ERAS K
206.6
226.0
237.7
252.2
257.1
275,0
292.9
308.6
319.0
338.4
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
131 4 . 0
1474.0
16SD.2
1828.9
2041.?
2180.5
2340.1
AVERAGE
2,411
2,417
2,475
2,490
2,517
2,630
2,670
2.64S
2,686
2,698
2,688
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
4,572
4,578
4,776
2,392
2,415
2,441
2,501
2,483
2,582
2,653
2,660
2,645
2,697
2,709
2,?42
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
4,561
4,555
4,670
(OCTOBER 1984)
C. Historical Data for Selected Series—Continued
Year
IQ
II Q
III
230. PERSONAL C O N S U M P T I O N E X P E N D I T U R E S ,
Q
IV Q
Annual
AVERAGE
1 950
1951
1952
1953
1954
1 955
1 956 ....
1957
1 958
1 959
1960
1 961
1962
1963
1 9^4
1965
1 966
1967
1968
,
1969
1 970
1 971
1972
1973
1974
1975
1 976
1977
1978
1 97 9
1980
1981
1982
1 983
1984
232.
182.9
208.3
211.1
228.3
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
17 97 .9
1931.3
2070.4
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
1829.3
1960.9
2141.6
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
1877.3
2001.3
2181.4
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
1891.8
2046.1
2230.2
192.0
207.1
217.1
229.7
235.8
253.7
266.0
280.4
289.5
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
1084.3
1204.4
1346.5
1507 .2
1668.1
1849.1
1984.9
2155.9
P E R S O N A L C O N S U M P T I O N E X P E N D I T U R E S , D U R A B L E G O O D S , IN
AVERAGE
1950
1951
1 952
1 953
1954
1955
1956
1 957
1 95 8 ....
1 95 9
1 960
1 961
1 962
1 963
1964
1 965
1 966 ....
1967... .
1968... .
1969... .
1970... .
1971... .
1972... .
1 973
1974
1975
1976
1977
1978
197 9
1980
1 ggi
1982
1 983
1984
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
84.9
93.0
105 .6
125.5
118.5
122.4
152 .0
171.2
184.9
211.1
220.7
237.8
239,4
259.4
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
232.4
241.6
276.1
Year
IQ
II Q
II! Q
IV Q
Annual
TOTAL, I N C U R R E N T
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
242.5
244.5
284.1
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
228.9
255.0
299.8
30.8
29.8
29.1
32.5
31.8
38.6
37.9
39.3
36.8
42.4
43.1
41 .6
46.7
51.4
56.4
63.0
68.0
70 .1
80.5
85.7
85.2
97.2
111.1
23.3
21 .5
32 .2
56.8
78.2
00.2
213.4
214.7
235.4
245.1
279.8
DOLLARS
1950
1 951
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.
1984.
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
,..
...
...
...
...
...
. ..
...
...
...
...
...
...
...
( A N N U A L RATE, B I L L I O N S OF D O L L A R S )
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
651.9
667.4
687.0
718.6
768.8
761.2
763.3
809.9
851.7
883.8
921 .2
938.3
950.2
953.7
982.5
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
949.1
958.9
1006.2
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
955.7
964,2
1015.6
AVERAGE
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
946.8
976.3
1032.4
233. PERSONAL CONSUMPTION EXPENDITURES, DURABLE GOODS, IN
1972 DOLLARS
( A N N U A L RATE, B I L L I O N S O F D O L L A R S )
1 950
1951
1952
1953
1954
1 955 ....
1956
1 95 7
1 95 8
1959 ....
I960
1961
1962
1963
1964
1 965
1966
1 967
1968
1969
1970
1 971
1 972
1973
1974
1975
1 976
1 977
1 97 8
1979
1 980
1981
1 982
1 983
1 984
38.9
44.3
37.5
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
146.1
138.5
146.8
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
140.0
138.8
156.2
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
143.5
139.3
159.6
43.2
36.9
40.5
42.5
45.1
52.2
48.8
47.9
46.6
49.7
50,5
51.8
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
134.0
145.2
167.2
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
696.8
737.1
767.9
762.8
779.4
823.1
864.3
903.2
927.6
931.8
950.5
963.3
1009.2
AVERAGE
42.6
39.1
38.0
42.1
42.5
51 .1
48.8
48.6
45.3
50.7
51.4
49.3
54.7
59.7
64.8
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
140.9
140.5
157,5
236. PERSONAL C O N S U M P T I O N E X P E N D I T U R E S , N O N D U R A B L E G O O D S ,
D I T U R E S , TOTAL AS A
AVERAGE
1950
1951
1952
1 953
1 954
1 955
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
1984
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
..
NOTE:
68.3
65 .0
61.7
62.4
64.0
63.6
63.3
62.7
65.0
3.6
3 .1
4,6
2 .7
3 .1
62.5
62.5
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
62.5
63.8
65.2
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.
61,
61 .
63.
62.
62.
62.
62,1
63.1
62.7
64.1
65.6
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
62.4
65.0
65.2
These series contain revisions beginning with 1981.
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
62.5
65.8
65.0
67 .1
62.6
62.4
62 .6
64.3
63.4
63.1
63.2
64.4
63.7
64.2
63.9
62.9
62.8
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
62.5
64.7
65.2
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.
1984.
94.8
107.6
110.8
117 .0
117.1
120.5
127.2
132.5
137.6
144.3
148.8
153.9
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
715.4
746.4
775.2
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
727 .9
750.6
796.9
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
736.8
762.5
811.7
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
284.0
312.6
346.8
385.1
420.4
455.5
494.3
556.1
635.5
693.7
742.6
770.6
823.0
98.2
108.8
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
66 8.8
730.7
757.5
801 .7
(OCTOBER 1984)
99
C. Historical Data for Selected Series—Continued
Year
IQ
II Q
III Q
IV Q
Annual
AVERAGE
1950
1951
1952
1 953
1954
1 955
1956
1957
195 8
1 95 9
1 960
1961
1962
1963
1 964
1 965
1966
1 957
1968
1969
1 970
1972
1973
1974
1975
1 97$
197?
1978
1979
1980
1981
1 982
1 983
1984
60.3
66.9
71. S
78.4
83.6
90.1
96.5
103.6
.. .
,. ,
...
...
1 1 7 ', 9
U8.0
135.0
143.2
152.1
162,9
173.7
187.0
201.9
217.8
,..
239,2
262.8
286.0
63.9
69.0
74.9
81.8
87.0
92.4
100.1
106.5
114.2
123.2
131.2
138.6
148.0
157.7
168.5
180.1
194.1
205.7
223,2
245.3
209.8
228.4
250.9
273.6
299.5
328.0
359.8
398.9
267.1
292.7
315.2
321.2
343.0
350.9
387.5
432.0
476,4
536.8
608.8
376.1
420.6
466.2
525,5
588,8
666.0
748.3
844.8
945.4
1035.8
. ,.
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
681.3
701.7
767.5
869.0
968.6
1068.6
797.6
898.0
994.2
1085.7
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
233.8
257.4
279.7
306.6
336.8
367.3
225 .8
410.4
441 .3
490,5
555.9
628.8
65.4
70.
76,
82.
88.3
94.
102.1
108.7
115.5
125.9
133.3
141.4
150.5
160.4
171.4
184.3
198.0
213.0
453.9
509.8
571.5
645.6
725.9
824.6
920.3
1020.6
1107.5
239. PERSONAL CONSUMPTION EXPENDITURES, SERVICES, IN 1972
DOLLARS
(ANNUAL RATE, B I L L I O N S OF DOLLARS)
1 950
1951
1952
1933
1954
1 955
1956
1957
1958
1959
.
1 960
1961
J, 962
1 363 , . .
i 964 . . ,
1965
1966
1967
1 96 8 , . . ,
1969
1970
1971
1972
1973
1974
1975
1976
1 977
1 9 7 8 ....
1979
1 980
.
1981
1982
1983
1984
128,6
136.7
138.7
144.4
146.6
155.?
162.2
168.?
172.5
181. §
169.9
196.7
205.1
213.4
132.7
137.1
140.0
146.0
149.7
156.5
163.9
169.7
175.3
183.8
192.3
199.9
225.2
236.2
248.0
259,2
269.5
283.9
296.4
305.4
320.0
228.7
239.2
250.6
262.3
274.0
334.1
344.2
354.0
368.4
208.3
215.7
287.1
297.4
308.5
322.9
337.5
346.8
358.8
207.6
248.2
270,8
296.2
325.3
355.2
393.2
437.0
485.7
547.4
618.0
693.7
784.5
883.0
982.2
1074.4
132.9
137.2
140.9
145.6
150.5
157.6
165.0
170.3
175.9
184.8
192.4
200.2
209.7
203.7
200.2
208.8
252.6
265.7
277.8
290.2
300.8
310.8
222.4
217.8
234.1
229.8
240.9
246.0
255.9
267.4
281.0
293.9
302.5
326.4
314.9
331.9
341.5
343.5
349.2
360.5
351.6
251.8
263.7
275.6
288.8
299.3
309.9
325.3
339.2
348.0
359.3
374.7
393.0
371.3
376.1
387.1
389.2
395.7
363.9
382.8
399.7
405.3
422.8
434.3
410.3
415.4
416.9
412.0
425.4
435.4
447.9
428.5
440 .3
432.6
444.7
427.3
438.8
445 ,4
448. 8
454.7
466.8
458.1
475.1
461.2
451 .2
465.1
477.6
482.0
450.5
459.8
475,4
2 4 1 . GROSS P U I V A T S D O M E S T I C I H V B S T M E K T , T O T A L , I N 1 9 7 2
AVERAGE
1950 .....
1 95 1
1 952 , . , ,
1953
1954
1 955
1 956
195?
1958
1959
I960
1 §61
1 962
1963.... ,
1964
1965
1 966 ....
1967
1 96 8 ....
1969
1970
1 971 . . . .
1972
1973
1974
1975
1 9 7 6 . . . ..
1977
1978
1979
1 980
1981
1982
1983
1984
NOTE:
'
79.6
96'.' 6
'86 '.'4
87. S
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
169.6
186.0
215.7
89.8
100.1
77.4
89.1
79.7
103.9
102 .7
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
206.3
200.9
145.6
181.4
201.7
146 . 8
185.7
213.7
226.7
239.9
96.0
93.8
80.5
86.0
84.0
105.8
102.2
99.8
88.1
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
222.8
238.0
237.2
108.7
85.3
87.6
78.6
89.7
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
241.5
241.3
224.3
228.5
204.7
202.4
232.8
200.4
197.4
210.0
238.5
223.7
194.3
177.8
191.3
212.6
230.6
249.5
These scries contain revisions beginning with 1981.
100
1950
1 951
1952
1953
1954
1955
1 956
1 957
1958
1959
I960
1961
1962
1963
1964
1965
1966
1967
1 968
1969
1970
1971
1972
1973
1974
1975
1976
1977
1978
1 97 9
1980
1981
1982
1983
1984
240.
135.7
137.5
143.4
145.3
153.4
160,6
168.0
172.3
178.2
188.1
194.6
219.7
231.4
242,1
IQ
93.5
93.9
83.0
85.3
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
230.9
194.3
221.0
II Q
III
Q
160.1
164.7
166.5
176.1
175.8
181 .4
191.6
193.1
193.4
161.7
162.7
170.3
176.6
175.0
184.4
191.1
193.9
194.9
164.4
166.0
172.8
175.2
177.2
185.9
191.2
196.7
198.3
203.2
207.2
209.6
204.6
209.5
205.5
216.5
221.5
IV Q
349.9
358.5
358.7
360.5
368.8
349.2
354.2
361.2
361.6
361.7
362.0
374.9
363.7
378.5
366.0
383.2
316.3
GROSS P R I V A T E
1 9 7 2 . . ..
1973
1974
1975
1976
1977
1978
1979
1980
1981
1982
1983
1984
327.5
33S.7
352.2
359.8
356.2
341.0
287.6
292.4
309.9
302.6
302.8
1955
1956
1957
1958
1959
1960
1961
1962
1963
1964
1965
1966
1967
1968
1969
1970
1971
255.9
260.8
273.3
278.7
286.7
290.2
307.6
306.0
300.4
220.8
224.2
236,7
339.1
281.3
1 9 5 4 . , ..
208.1
2U.8
330.6
275.7
1950
1951
1952
1953
206.6
206.8
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
266.1
DOL
211.6
217.4
161 .0
167.7
174.9
174.9
180.0
189.8
192.5
195.7
222.4
232.2
240.9
255.4
259.4
269.0
277.0
282.4
288.5
299.3
306.3
302.6
307.8
320.2
33K9
228.2
239.2
253.5
258.3
AVERAGE
134.6
137.6
141.5
146.6
152.1
157.7
165.8
170.5
177.5
185.7
192.7
212.1
Year
238. P E R S O N A L C O N S U M P T I O N E X P E N D I T U R E S , N O N D U R A B L E G O O D S ,
IK 1 9 7 2 DOLLARS
( A N N U A L R A T E , B I L L I O N S OF D O L L A R S )
251.8
310.2
D O M E S T I C I N V E S T M E N T , TOTAL, I N C U H E E N T
LARS)
43.6
60.7
54.1
54.8
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
50.5
63.9
47.5
56.1
50.4
67.9
70.4
69.8
56.5
83.0
76.4
72.9
85.9
90.4
96.7
111.8
127.4
117.1
133.6
149,4
143.6
166.9
193.2
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
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
138.6
146.5
144.1
170.6
206.1
240,9
228.0
222.4
225.8
227.0
232.9
229.6
227.9
191 .4
193.0
217.5
248.8
296,4
354.2
258.3
259.6
339.6
394.6
415.1
422 .0
468.1
436.2
405.0
319.4
388.5
428.3
394.3
481.1
431.2
449.6
1 962
1963
1964
1965
1966
1967
1968
1969
1 970
1971
1972
1973
1974
1975
1976
1977
1978
1979
1980
1981
1982
1983
1984
..
213.1
45.8
48.7
49.9
53.0
53.1
61,9
66.1
67.5
61.6
72.9
73.6
71.4
79.5
84.3
90.9
102 .3
112.9
111.1
123.0
139.0
139.2
157.0
181.1
211.6
215.2
205.7
207.6
233 .5
241 .0
276.8
296.2
357.7
41.2,
50.2
48.9
52.4
52.1
58.9
64.6
67.$
63.2
70.3
75.5
70.2
76.7
80.7
90.2
99.2
111.7
107.8
122.5
136.7
139.8
148.8
177.1
205.3
328. £
393. S
401.9
391.3
161.8
165 .3
171.2
175.7
177.0
185.4
191.6
194.9
196.8
205.0
208.2
211.9
21 8.5
223.0
233.3
244.0
255.5
259.5
270.S
277.3
283.7
288.7
300.6
307 .4
302.5
307.5
321.9
333.4
344.4
353.1
355.6
360.8
363.1
376.3
AVERAGE
53.8
S9.2
52.1
53.3
52.7
68.4
71.0
69.2
61.9
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
2S7.9
340.7
324.1
386.6
423.0
379.5
505.8
409.1
416.8
411.7
481.7
415.9
491.9
376.2
340.0
431.9
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
446. 2
45 3. i
457.3
420.2
404.9
466.2
442.1
431.3
447.9
469.0
496.2
423.6
AVERAGE
264 .7
2 4 2 . GROSS P R I V A T E DOMESTIC FIXED I N V E S T M E N T , TOTAL, IN
DOLLARS)
1950
1951
1 952
1953
1 954
1955
1 95 6
1957
1958
1 95 9
1960
Annual
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
88.9
93.5
108.2
109.5
117.8
130.9
140.2
143.2
167.3
196.3
213.8
212 .6
223.2
401.9
484.2
414.9
471.6
AVERAGE
47,0
48.9
49.0
S2.9
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
US.4
139.5
141.0
158.8
184.8
211.3
214.5
213 .0
261.5
246.0
323.7
332.8
301.0
360.1
419.4
408.8
426.8
462.8
437.3
527.3
411.7
458.1
441 .0
485.1
(OCTOBER 1980)
C. Historical Data for Selected Series—Continued
Year
243. GROSS
1972 DOI LARS
N Q
(ANNUAL RATE,
75.2
83.2
79.1
83.7
82.5
91.8
96.4
96.0
89.7
98.2
104.7
98.1
106.3
111.3
125.0
134.6
149 .1
138.1
151 .7
160.7
155.9
158.6
179.7
199 .7
193.1
160.1
171 .4
191.2
209.4
228.6
224. 8
220 .4
211 .4
207 .8
1950
1951
1952
1953
1 954
1 955
1 955
1957
1958
1959
1 960
1 961
1962
1963
1 964
1965
1966
1967
1968
1969
1970
1971
1972
1973
1974
1 975
1976
1977
1978
1979
1980
1981
1982
1983
1984
247.
IQ
GROSS P R I V A T E D O M E S T I C
IHV E
*
1 950
1951
1952
1953
1954
1955
1956
1957
1958
1959
I960
1 961
1962
1963
1 964
1965
1966
1967
1968
1969
1970
1971
1972
1973
1 974
1975
1976
1977
1978
1979
1 980
1 981
1982
1983
1984
0.9
3.3
1.5
0.7
-0.7
1.2
1.5
0.5
-1 .2
0.9
2 .1
-0 .6
1.5
1.0
0. 9
1.8
1.8
1.6
0.5
1.1
0.2
1.0
0.6
1.3
0.9
-1.0
0.9
1.1
1 .2
0. 9
-0.1
0.8
0 6
-1 .4
III Q
6 .5
6 .2
5.0
5.1
5.0
6 .2
5.5
4. 8
4.6
5.5
5.2
4.6
4.7
4.9
5.1
4.6
4.2
3.2
3.9
4.2
3.7
4.2
5.3
5.5
4.4
3.4
4.0
4.6
5.0
5.0
4.4
3.9
2.9
3.6
Annual
Year
IQ
II Q
III Q
IV Q
BILLIONS OF DOLLARS)
82.1
80.1
80.1
84.0
83.8
95.8
97.2
95.1
87.0
101.5
101.8
99.4
110.2
116.7
125.0
139.2
147 . 9
141.5
150.5
161.2
153.3
164.7
182.5
202.0
188.3
158.1
174.4
199.9
221.5
227 .6
204.5
220.5
204 .5
218.7
88.0
79.2
75.1
84.1
86.7
98.1
97.3
96.1
87.8
102.6
99.1
101.4
111.6
119.3
126.1
141.4
146.6
143.3
151.8
161.7
155.1
168.2
184.0
201.6
182.6
162.3
177.3
204.0
224.8
232.4
207 .5
221 .0
200.7
229.8
1 .7
4.6
-0.7
0.8
-0.7
1.5
1 .0
0.5
-1 . 2
2.1
0.6
0.3
1. 1
1.0
0 .9
1 .4
1.9
0.8
1 .2
1.1
0.4
0.9
.0
.2
.2
- .0
.0
.2
.4
.1
0.1
0. 8
0 4
-0.6
7 .1
5 .3
5.1
5.1
5.4
6.2
5.4
4.7
4.6
5.6
4.8
4.5
4. 8
5 .1
4.8
4.6
4.0
3.5
4.0
4.2
3.5
4.6
5.3
5,3
4.2
3.5
4.1
5 .0
5 .2
5.0
3.6
3. 7
3.0
4.0
1.7
3.1
1.2
0.2
-0.6
1.5
1.0
0.7
0.0
0.3
0.5
1.0
1.0
1.1
0.7
1.3
1.5
1.3
1.0
1.3
0.6
0.6
1.1
1.1
0.7
0.1
0.7
1 .6
1.1
0.5
-1.0
1.3
-0.5
-0.1
4.9
1.5
1.5
-1.2
0.3
1,7
1.0
-0.5
0.9
1.4
-0.8
1.1
0.8
0,9
1.0
.2
2,3
1.6
0.9
0.7
0.1
0.3
0.8
2 .0
1.0
0.0
0.
0.
1.
-0.
-0.
0,6
-2 .0
0.4
INVESTMENT, RESIDENTIAL,
(PERCENT)
7.3
4.9
5.1
4.9
5.7
6.0
5.3
4.6
4.8
5.5
4.6
4.7
4.8
5.0
4.7
4.5
3.7
3.7
4.0
4.0
3.6
4.9
5 .3
5.1
4.0
3.6
4.1
5.1
5.2
5.0
3.7
3.4
2.9
4.3
visions beginning with 1981.
Annual
AVERAGE
86.7
78.4
80.4
83.5
88.3
98.5
96.4
94.6
92.8
101.5
99.0
104 .9
110.7
122 .9
127 .4
145.3
141.2
147 . 8
156.3
157.9
154.8
171.8
193.0
198.1
171.5
165 .5
183.9
208.4
227 .1
227.6
214,7
216.4
202.4
242 .2
INVESTMENT, CHANGE IN BUSINESS
F GNP
(PERCENT)
249. GROSS PRIVATE DOMESTIC FIXED
AS A P E R C E N T OF GNP
1950
1951
1 952
1 953
1954
1955
1956
1 95 7
1958
1959
1960
1 9^1
1962
1963
1964
1965
1966
1967
1968
1969 ....
1970
1971
1972
1 973
1974
1975
1976
1977
1978
1979
1980
1981
1982
1983
1984
IV Q
6.7
4.9
5.1
5 .0
5.9
5.6
5.0
.6
.1
.2
.6
.8
.8
5.2
4.6
4.3
3.2
3.9
4.1
3.8
4.0
5 .1
5.5
4.7
3.6
3.8
4.5
5.2
5 .1
4.7
4.0
3.1
3 .1
4.2
83.0
80.2
78.7
83.8
85.3
96.1
96.8
95.5
89.3
100.9
101.2
100.9
109.7
117.5
125,9
140.1
146.2
142.7
152.6
160.4
154.8
165.8
184.8
200.4
183.9
161.5
176.7
200.9
220.7
229.1
212.9
219.6
204.7
224.6
1950
1 951
1952
1953
1 954
1 955 .
1956
1957
1958
1959
1 960
1961
1 962
1 963
1964
1965
1966
1967
1968
1969
1970
1971
1972
1 973
1 974
1975
1 976
1977
1978
1979
1 980 .
1 981
1982
1 983 ....
1984
2.4
1 .5
.2
.4
- .5
.6
6.0
2.1
-5.4
4.2
10.5
-3.2
8.3
5.7
5.4
12.3
13.1
12.4
4.6
10.4
1.6
10.5
6.3
16.3
12.7
-14.3
15,3
19.6
25.3
21.5
-1.6
21.9
-17.0
-42.9
248. GROSS
4.8
15.2
-2.3
3.2
-2 .7
6 .1
4.3
2.3
-5.1
10.2
2.8
1.5
6.4
6.1
5.9
9,5
14.5
6.0
10.7
10.4
4.4
9.9
12.0
15.4
17.7
-14.6
17.3
23.3
30.8
26.4
3.0
23.7
-10.9
-19.4
4.9
10.4
4.3
0.7
-2.2
6.0
4.1
3.2
0.1
1.4
2,6
5.2
5.9
6.5
4.5
9.2
11.3
10,2
8.5
12.3
6.0
6.8
12.8
15.1
10.7
2.1
11 .4
32,1
23.5
11 .8
-25 .4
39.7
-15.3
-4.3
15 ,1
5.1
5.4
-4.5
1.3
7,1
4.3
-2.2
4.1
6.8
-4.2
5.8
4,5
5.6
6.7
8.5
17.6
12.8
7.7
6.3
0.9
3.3
9.8
27.1
15.4
-0.8
3.3
17.1
26.2
-2.6
-15.1
18,9
-61.1
12.7
9.4
9.5
9.4
9.3
9.3
9.4
10.4
10.5
9.4
9.3
9.7
9.2
9.3
9.1
9.5
10.4
11.1
10.6
10.2
10.7
10.6
10.0
10.1
10.9
10.
10.
10.
10 .
9.9
9.5
8.4
9.6
9.4
9.9
10.6
10 ,7
9.0
9.6
9.4
9.1
9.3
9.2
9.7
10 .6
11 .0
10.4
10.2
10.8
10.5
10 ,0
10 .1
11.0
11,0
10.1
10.3
10.7
11 .6
12 . 2
11.7
12 .1
11.1
10.6
9.8
9.3
8.9
9.6
9.2
10.2
10.5
10.6
9.1
9.5
9.4
9.1
9.2
9.4
9.8
10.8
10.9
10.4
10.5
10.8
10.2
10.0
10.4
10.8
10.8
10.0
0,2
1 .1
1.7
2 .1
1.6
12.2
10.9
11.2
PRIVATE
AVERAGE
2.3
3.1
0.9
0.1
-0.4
1.5
1,1
0.3
-0.4
1.2
0.6
0.4
1.1
1.0
0.9
1.4
1.9
1.3
0.9
1.0
0.3
0.7
0.9
1 .4
1 .0
-0.5
0.7
1.2
1.2
0.6
-0.4
0.9
-0.9
-0.4
AVERAGE
1 950
1 951
1952
1953
1 954 . ...
1955
1956
1957
1958
1959
1 960
1961
1962
1 963
1964
1 965
1966
1967
1 968
1 969
1 970
1971
1972
1973
1974
1975
1976
1977
1978
1979
1980
1981
1 982
1 983
1 984
8.9
9.5
9.3
9.2
9,4
9.0
10. 2
10.6
9.9
9.2
9.7
9.2
9.1
9.0
9.3
10.2
10.9
10.6
10.6
10.6
10.6
10.0
10.2
10.5
11.0
10.5
10.0
10.4
11.2
11.9
12 .1
11.6
12.1
10.5
(ANNUAL RATE,
AVERAGE
6.9
5.3
5.1
5.0
5.5
6.0
5.3
4.7
4.8
5.4
4.8
4.6
4.8
5.0
4.8
4.5
3.8
3.6
4.0
4.0
3.7
4.7
5.4
5.2
4.0
3.6
4.2
5.0
5.1
4.9
3.9
3.5
3.0
4.0
6.8
10,3
3.1
0.4
-1.5
6.0
4.7
1.3
-1.5
5.7
3.0
2.3
6.3
6.0
5,6
9.9
14,1
10.3
7.9
9.8
3.2
7.7
10.2
18.5
14.1
-6.9
11.8
23,0
26.5
14,3
-9.8
26.0
-26.1
-13.5
1950
1 951
1952
1953
1954
1955
1956
1957
1958
1959
1960
1961
1962
1963
1964
1965
1966
1967
1 968
1969
1 970
1971
1 972
1973
1974
1975
1976
1977
1978
1979
1980
1981
1982
1983
1984
...
3.4
1.7
5.7
1.3
1.7
3.6
3.4
8.0
3.8
1.1
3,8
7 .8
5 .7
6.3
10.7
.9
.5
.0
.1
.9
.5
.3
-0.2
7 .0
22.0
25.6
18.4
-2 .1
-11 .7
17.2
12.8
33.1
27.7
19.6
11 .
11 .
11.6
11.9
11.5
10.4
AVERAGE
B I L L I O N S OF D O L L A R S )
3.0
3. 8
4.0
0.8
2 .3
2.3
4.9
7.6
3.2
0.4
4.7
6.4
7.0
7.9
9.4
10.0
6.7
6.7
4.9
3 .7
8.1
3.5
-0.3
11.4
11 .7
28.5
15.0
-1.8
-4.1
9.1
22.5
22.4
35.5
-6 .5
0.9
5.8
2,0
1 .3
2.6
3.3
5.6
7 .4
3.5
2.1
6.1
6.1
6 .7
7.3
10,1
9.2
5.7
6.3
4.4
3 .9
6 .6
3.9
1,4
18.5
7 .8
24.9
12.2
-0.4
1.2
16.1
37.1
24.8
6.6
-16 .4
9.5
9.4
9.0
9.4
9.3
9,6
10.4
10.6
9.4
9.4
9.6
9.2
9.2
9.2
9.6
10.5
11.0
10.5
10.4
10 ,7
10.5
10.0
10.2
10.8
10.9
10.2
10.2
10.7
11.5
12.0
11.8
12.0
11.4
10.7
1.5
6.4
1.0
1 .6
3.5
2. 9
7 .2
6. 1
2.4
2.1
7.3
6.3
6.0
8.8
10.0
8.1
6.2
5.3
3.7
5.2
5.5
1.7
2.
19.
12.
28.
9.
-11.7
10.1
10.5
23.3
31.7
6.3
-29.8
2.2
4.4
3.2
1.3
2.5
3.0
5.3
7.3
3.3
1 .4
5.5
6.6
6 ,4
7.6
10.1
8.8
6.5
6.3
4.3
4.2
6.7
4.1
0.7
14.2
13.4
26.8
13.8
-4.0
-1 .1
13.2
23.9
28.0
19.0
-8.3
(OCTOBER 1984)
101
C. Historical Data for Selected Series—Continued
Year
IQ
II Q
III
Q
IV Q
251. NET E X P O R T S OF G O O D S AND S E R V I C E S AS A PE R C E K T OF
GNF
(PERCENT)
1 950
1951
1952
1953
1954
1955
1956
1957
1958
1 95 9 .
1 960
1961
1962
1963
1964
1965
1966
1967
I 96 8. ,
,1969
1970
1971
1 97 2
1 §73
1 974 . .
1975
1976
1977 .,
1978
1979
I ggo
1981 . . . .
X 982 . .
1 983 ,
1984
1.3
0.5
1.7
0.4
0.5
0.9
0.8
1.8
0.9
0,2
0.?
.5
»<D
,1
.7
.2
.0
0,9
0,3
0,4
0/7
0,7
0,0
0,3
1 .6
1 .7
1.1
-0.1
-0.6
0.7
0.3
1 .2
0.9
0.6
1.1
1.2
1.2
0,2
0.6
0.6
1.2
1.7
0,7
0.1
0.9
1.2
1.2
1 ,3
1.5
1.5
0.9
0.8
0.6
0.4
0.8
0.3
0.0
0.9
0,8
1.9
0.9
-0.1
-0.2
0.4
0.9
0,8
1.2
-0,2
0.3
1.7
0.6
0.4
0.7
0.8
1.3
1.6
0.8
0.4
1.2
1.2
1.2
1.2
1.6
1.3
0.7
0.8
0.5
0.4
0.7
0.4
0.1
1.4
0.5
1.6
0.7
0.0
0.1
6.7
1.4
0.8
0.2
-0.5
0.5
1.9
0.3
0.4
0.9
0.7
1 .7
1.4
0.5
0.4
1.4
1.2
1.0
1.4
1.5
1.1
0.8
0.6
0.4
0.5
0.5
0.2
0.2
1.4
0.8
1.7
0.5
-0.6
0.4
0.4
0.9
1.0
0.2
-0,9
253. IMPORTS OF GOODS AND SERVICES IN CURRENT DOLLARS
(ANNUAL HATE, BILLIONS OF DOLLARS)
1930
1951
1952
1953
1954
1 955
1956
195? .....
1 95 g
1 95 9 ...
I960
1961
1962
1 963 . .
1964
1 955
1966
1967
1968
1 96 9 . . . .
1970
1971
1972 ....
1 973
1974
1975
1976
1977
1978
1979
1980
1981
1982
1 983
1984
10. 1
15,6
15.6
16.5
15. §
16.9
19.8
21 .0
20.*
22.4
23.9
22.3
24,8
25 .6
27.6
29.1
36.0
40.6
45.7
45 .9
57 .1
61 .0
74, 3
88.8
114,7
130.3
145.6
180.0
207 .2
238.9
322.5
335.3
331.7
308.9
10.8
15.9
15.3
17 .1
16.9
17 .9
19.8
21 .1
21.0
23.6
24.0
22.5
25 .4
26.4
28.4
32.7
37.0
40.1
46,9
55.3
58.6
65.6
74.0
93.5
134.6
120,7
153.4
186,8
217.2
259.1
314.2
347.3
330.8
334.5
13.6
15.0
15.9
17 .0
16.0
18.3
20.1
20.6
20.7
24.0
23.4
24 .0
25 .6
27 .2
29.1
33.0
39.4
40.6
49.9
55 .6
59.6
67.9
76.5
95.6
139.8
127.8
161.4
187 .2
222.9
274.5
300.5
343.9
339.7
358.4
14,3
14.7
17.0
16.3
16.2
18.9
19.4
20.5
21.8
23.6
22.3
24.5
26.0
27.3
30.0
34.4
39.8
42.8
49.8
56.6
60.7
64.3
82.1
103.6
142.1
133.8
H8.1
192.9
232.0
300.0
322,0
341.1
315.4
375.9
2 5 6 . E X P O R T S O F 6003)3 AMD S E R V I C E S I N 1 9 7 2 D O L L A R S
( A N N U A L RATE, BILLIONS OP D O L L A R S )
1 950 . .
1951
1952
1 933
1 95 4 ....
1955
1 956
1 957 ....
1958
1 95 9
1960
1961
1962
1963
i%4
1965
19&6
1 %7
1 96 8. . . . .
1 96 9 . . .
1970.
1971
1972
1 973
1974. ....
1975
1976
1977
1978
1979
1980
1981
1982
1983
1984
22.6
25 .8
30.8
26.3
25 .7
30.3
33.0
39.4
33.0
32,1
37.3
39.9
40 .0
41.9
50.0
46.7
54.1
56.9
39.0
57.1
69.4
70.7
74.9
91 .0
108.0
104.0
107.6
111 .0
118.1
138.8
164 .4
161.2
152.2
138.2
23.3
28.2
28.0
26.
28.
29.
34.
39.
33.
32.7
38.2
37.8
42.6
44.8
49.2
53.6
53.8
56.1
60.1
67 .4
71.5
71 .2
74.2
95.8
111.4
100.3
109.3
113.9
124.3
140.4
161.0
161.0
155.1
137.0
23.8
30.0
26.2
27.0
27 ,9
31 .2
36.2
37.7
33.2
35.4
38.9
39.4
42.6
45 .2
50.6
53.1
54.6
56.3
63.6
67 .2
70.6
74.2
78.2
99 .8
107.5
102 .5
111.5
115 .2
128.8
149.2
156.4
159.3
146 .6
141 .6
NOTE: ThflSR scries contain revisions beginning with 1981,
102
24.6
30.5
26.6
26.3
29.3
31 .4
37.1
35.6
33.2
34.9
39.2
40.3
42.2
47.3
51.4
53.6
55.1
57.4
62,3
68.3
70.4
67 .7
82.5
102.4
106.9
107,4
111 .9
111 .4
135.6
156.4
154.7
159.4
136.7
141,0
Annual
Year
252.
AVERAGE
0.8
1.3
1.0
0.4
0.7
0.8
1.2
1.6
0.7
0.3
1.0
1.3
1.1
1.2
1.
1.
0.
0.
0.
0.
0.7
0.4
0.1
1.0
0.9
1.7
0.8
-0.2
-0.1
0.6
0.9
1.0
0.6
-0.2
1 950
1951
1952
1953
1954
1955
1956 . . . .
1957
1958
1959
1960
1 961
1 9 6 2 . ....
1 963
1 §64
1965
1 966 .
1 967
1968
1 969
1 970
1 971
1972
1 973
1974
1975
1 976
1977
1978
1979
1980
1981
,
1982
1983
1984
255,
AVERAGE
12 .2
15.3
15.9
16.7
16 .2
18.0
19.8
20.8
21.0
23.4
23.4
23.3
25.4
26.6
28.8
32.3
38.1
41.0
48.1
53.3
59.0
64.7
76,7
95.4
132.8
128.1
157.1
186.7
219.8
268.1
314.8
341.9
329.4
344.4
1 Q
257.
23.6
28.6
27.9
26.6
27.8
30.7
35.3
38.0
33 .2
33,8
38.4
39,3
41 .8
44,8
50.3
51.7
54.4
56.7
61.2
65.0
70,5
71.0
77.5
97.3
108.5
103.5
110. 1
112.9
126.7
146 .2
159.1
160.2
147.6
139,5
1 950 .
1 951
1952
1953
1954
1955
1956
1957
1958
1959
1 960 . .
1961
1962
1963
1 964
1965
1966
1967
1968
1969
1970
1971
1 972
1973
1974
1975
1976
1977
1978
1979
1980
1 981
1982
1983
1984
III
Q
IV Q
13.5
17.3
21.3
17.8
17.2
20.5
23.2
29,0
24.2
23.5
27.7
30.0
30.5
31.9
38,3
36.9
43.4
47.5
49.8
49.7
63.6
68.4
74.0
95.8
136.8
156.0
164.0
177.9
195.6
256.1
335.3
368.4
359.4
328.5
13.8
19.7
19.3
18.0
19.2
20.2
24.6
28.7
24.2
24.0
28.7
28.9
32.4
34.3
37.8
42.6
43.8
46.8
51.8
59.0
66.7
69.1
73.8
105.0
146.3
149.2
168.4
185.1
213.1
268.2
336.8
369.8
366.3
328.1
14.5
20.7
17.9
18.3
18.7
21.5
25.7
28.0
24.2
26,0
29.5
30.0
32.3
34.6
39,2
42.3
45,0
46.9
54.3
59.5
66.1
71.8
78.0
114.1
147.5
152.7
173.6
186.8
224.0
290.6
337.6
368.7
346.3
342.0
15.8
21.0
18.0
17.
19.
21.
26,
26.
24.2
25.7
29.5
30.8
32.0
36.1
40.0
42.5
46.0
48.1
53.5
61.9
66.2
66.0
84.1
123.5
154.2
161.9
177.5
181.2
242.1
310.5
345.4
372.8
321.7
346.1
N E T E X P O R T S O F GOODI3 A N D S E R V I C E S I N 1 9 7 2 D O L L A R S
( A N N U A L RATE, 3ILLIONS OP DOLLARS)
1950 . , .
1951
1952
1 953
1954
1955
1956
1957
1958,.,.
1 959 . .
I960
1 961 ....
1 962 .
1963.,,..
1964
1965
1966
1967
1968
1969
1970
1971
1972
1973
1974
1975
1976
1977
1978
1979
1980. ....
1981
1982
1983
1984
AVERAGE
II Q
EXPORTS O F G O O D S A N D S E R V I C E S I N C U R R E N T D O L L A R S
( A N N U A L RATE, B I L L I O N S O F D O L L A R S )
6.8
6.4
11.7
5.0
5.2
8.4
7.7
13.2
6.5
2.1
6.0
10.4
6.6
7.4
14.0
9.0
.2
.2
,2
.2
.2
.7
-1.9
7.7
28.2
32.1
26.7
22.3
19.1
33.4
49.8
48.8
34.9
22.9
6.8
9.5
9.0
4.4
6.7
6.3
9.6
12.6
5.6
1.2
6.8
8.0
8.5
9.6
12.3
11.2
7.1
6.0
2.2
0.4
4.5
0.3
-0.4
13.7
28.9
33.5
25.9
22.6
22.4
31.5
52.6
44.8
34.1
13.6
4.3
12.2
6.1
4,8
7.3
7.5
10.5
11.9
5.9
3.6
8.1
7 .7
8,0
9.2
12.8
10.6
5.1
5.4
2.0
0.2
4.3
1.7
2.4
19.4
26.2
30.8
25.6
24.9
25 .3
39.8
53,4
40.6
25.7
11.9
5.6
12.5
4.9
5.0
8.4
7.1
12.5
9.5
4.3
3.8
9.8
7.8
7.0
11.3
12.4
9.8
5.4
3.9
1.2
1.8
3.6
-0.2
2.9
21.2
27.8
32.3
23,4
18.1
29.3
44.2
45.4
41.2
24.1
2.0
IMPORTS OF GOODS AND SERVICES IN 1 9 7 2 DOLLARS
( A N N U A L RATE, BILLIONS OP D O L L A R S )
15.9
19.4
194
21. $
20.5
21.9
25.3
26.2
26.$
30.0
31.3
29.5
33.3
34.5
36.0
37.7
45.8
50.7
56.8
55,8
66.2
66.0
76.9
83.3
79.8
71.9
80.9
88.7
99.0
05.4
14.5
12.5
17.3
15.3
16.5
18.7
19.0
22.4
21.8
23.4
25.2
26.4
27.6
31.5
31.5
29.8
34.1
35.2
36.9
42.4
46.7
50.2
57.9
67.0
67.0
70.9
74.6
82.1
82.5
66.8
83.3
91.3
101.9
109.0
108.4
116.3
121.0
123.4
19.5
17 .8
20,1
22.2
20.6
23.8
25 ,7
25.8
27 .3
31 .8
30.7
31.7
34.6
36 .0
37.9
42.5
49.5
50.9
61.5
67.0
66.3
72.5
75.8
80.4
81.3
7 .7
8 .9
9 .3
10 .5
10 .4
10 .9
118.7
120,9
129.7
19.0
18.0
21.7
21 .3
20.9
24.4
24.6
26.1
28.9
31 .1
29.4
32.5
35.2
36.0
39.0
43.9
49.7
53.5
61.1
66.5
66.8
67.9
79.6
81.2
79,1
75.1
88.5
93.2
106.2
112.2
109.3
118.2
112.6
139.1
Annual
AVERAGE
14.4
19,7
19.1
18.0
18.7
21.0
25 .0
28.1
24.2
24.8
28.9
29.9
31.8
34.2
38,8
41.1
44.6
47.3
52.4
57.5
65.7
68.8
77.5
109.6
146.2
154.9
170.9
182.7
218.7
281 .4
338.8
369.9
348.4
336.2
AVERAGE
5.9
10.1
7.9
4.8
6.9
7.3
10.1
11.8
5.6
2.7
7.7
8,5
7,5
9.4
12.8
10. 1
6.5
5.4
1.9
0.9
3.9
1.6
0,7
15.5
27.8
32.2
25.4
22.0
24.0
37.2
50.3
43.8
29.7
12.6
AVERAGE
17.7
18.5
20.0
21,8
20.9
23.4
25 ,2
26.1
27 .6
31,1
30.7
30.9
34.3
35.4
37.S
41.6
47.9
51.3
59.3
64.1
66.6
69,3
76.7
81.8
80.7
71.4
84.7
90.9
102.7
109.0
108.8
116.4
118.0
126.9
(OCTOBER 1984)
C. Historical Data for Selected Series—Continued
Year
IQ
C U R R E N T DOLLARS
1 967 . . . . .
1968
37.7
49.6
70.9
81.7
79.5
74.3
77.2
86.2
91.2
97.8
97.3
105 .0
116 .1
122.1
128.3
131.6
150.0
174.9
192.4
1 9 6 9 . . ...
204.5
1970
1971
1972
1 973
1 974
1975
1976
1977
1978
1979
1 980
1 981
1 982 . . .
1 983
1 984
216.4
1950
1 951
1 952
...
1953
1 954
1955
1956
1 957
1958
1959
1 960
1961
1 962
1 963 . . . .
1 964
1965
1966.o...
2 6 2 . FEDERAL
229.7
249.7
264.9
286.8
327.7
357.0
377.9
412.8
456.9
517 .6
576.6
630.9
678.8
II Q
III Q
( A N N U A L RATE,
38.0
64.4
77.5
82.4
74.6
75.4
79.7
87.5
96.1
97.5
101.8
108.4
118.8
124.3
130.0
140.1
162.0
182.0
201 .0
210 ,7
221.1
232.4
236.4
252.9
268.9
309.2
344.0
362.8
398.7
439.3
478.5
266.3
300.6
333.6
358.1
390.7
424.4
464.5
535.5
585.3
633.7
682 .2
G O V E R N M E N T PURCHASES
AVERAGE
B I L L I O N S OF DOLLARS)
36.9
56.7
75.5
82.6
75.4
74.1
79.3
86 .6
94.2
98.0
99.3
106.8
116.8
121.3
130.0
135.6
155.3
177.3
198.6
207 .4
217.7
251.5
Annual
IV Q
41.4
69.6
78.3
83.4
73.4
76.2
81.3
88.1
98.7
97.0
102.7
112.3
120.4
127.0
130.9
146.1
167.3
186.5
204.0
38.5
60.1
75.6
82.5
75.8
75.0
79.4
87.1
95.0
97.6
100.3
108.2
118.0
123.7
129.8
138.4
158.7
180.2
199.0
212.4
208.8
225.3
240.9
258.3
220 .1
281.6
319.7
234.9
253.1
270 .4
304.1
354.3
370.4
408.0
393.8
451.1
431,9
539.1
601.3
497.6
559.0
622.7
656.3
689.8
681 .0
691.4
474.4
537.8
596.5
650.5
685.5
OF GOODS AND S E R V I C E S
339.9
362.1
Year
IQ
IN 1972 DOLLARS
1 950
1951
1 952
1 953
1 954 . . . .
1 955
1956
1957
1958 .
1959
1960
1 961
1962
1 963
1 964
1 965
1 966
1967
1968
1969
1970
1 971
1 972
1973
1 974
1975
1 976
1977
1 97 8
1979
1980
1 981
1 982
1 983
1 984
98.6
115.7
152.9
167.7
162.6
152,7
152.1
160.1
165.0
171.6
169.2
179.4
191.3
195.8
201 .7
202.3
221.2
244.2
256.5
258.6
252.7
250.0
254.5
254.6
257.5
263.0
267.0
265.6
270.4
276.4
284.0
286.0
290.2
294.3
265. FEDERAL
18.6
28.7
48.3
57.2
52.8
44.5
44 .9
50.3
51.6
54.3
52.3
55.3
63.0
64.9
65.9
63.9
73.6
88.6
96.0
97.0
98.0
95.8
102.7
103.0
103.9
119.2
126.7
135 .8
147.3
164.4
188.1
215.6
249.8
273.0
17.4
35.1
52.2
58.1
48.0
43.7
46.2
49.9
53.6
54.3
53.1
56.9
63 .0
63.3
65.8
65.8
76.8
89.4
98.8
97.2
95.8
95 .0
102 .8
100 .4
109.6
120.1
126.3
142.2
149.2
163.2
199.0
18.0
42.3
54.3
57.2
46.2
44.7
45.8
50.1
54.4
53.7
54.6
57.7
64 .1
64.5
64.7
67.6
81.5
92.1
98.6
98.3
94.2
96.6
100.4
98.8
112.7
123.7
129.5
146 .2
156.1
168.0
194.5
20.9
47 .2
54.6
57.6
44.8
44.9
46.7
49.6
55.9
53.3
54.8
59.6
64.8
65.
64.
71.
83.
93.
98.
97.8
95 .0
97.4
100.8
105.8
117.8
127.9
134.3
149.5
161.8
177.8
245 .0
261.6
206.6
246.9
279.4
270.5
269.2
266 .3
220.9
232.2
111 Q
IV Q
)S AND S E R V I C E S , TOTAL,
( A N N U A L RATE
B I L L I O N S OF D O L L A R S )
96.2
128.5
159.4
170.2
155.6
150.9
154.0
161.1
168.7
171.3
172.4
181 .0
191.8
195 .1
203.4
207.2
224.8
247.0
260.9
259,2
249.6
248.3
253,2
7 .0
9,0
14.1
15 .6
14.6
11 .5
10 . 9
11.4
11 .8
11.4
10.3
10.9
11 .4
11.2
10,5
9.6
10.0
11.3
11.4
10.5
10.1
9.1
9.0
8.0
7.5
8.1
7.6
7 .4
7.3
7 .0
7 .3
7.5
8.3
8.6
.3
1 .7
1 .3
1 .7
1 .2
1 .0
1 .0
1 .3
1 .2
1 .1
1 .5
1 .0
1 .2
1 .7
1 .4
.7
1 .2
1 .3
1 .4
1 .4
.7
.9
.8
7.7
7.7
7.9
7.4
7.5
7.0
6.9
7.7
7.6
8.0
8.3
6 .1
12 .6
15 .6
15.5
12.6
11 .0
10.8
11 .1
12.0
11.0
10.7
10.9
11 .3
10.7
10.1
9.7
10.7
11 .4
11 .1
10.3
9.4
8.9
8.4
7.4
7.8
7.8
7.5
7.5
7.1
6.8
7.4
7.7
8.5
8.0
NOTE: These series contain revisions beginning with 1981.
6.8
13.9
15.2
15.9
11.9
10.9
10.8
11.2
12.0
10.8
10.9
11.0
11.3
10.8
9.9
10 .0
10.8
11.4
11.0
10.2
9.4
8.8
8.2
7.7
8.0
7.9
7.6
7.5
7.1
7.1
7.6
8.2
9.0
7.8
98.1
133.7
159.8
170 .1
156.0
152.3
153.5
161.2
169.8
170.6
172.8
182.9
193.2
197.6
102.0
149.2
163.3
172.0
151 .7
152.0
154.8
162.0
174.7
169.3
175.4
1 88.4
195 .0
202,3
211.8
203.1
217.7
234.0
250.6
238.7
252.2
262 .2
261.1
256,8
250.9
250,6
252.6
255.0
202.6
209.8
229.7
248.5
260.2
257.4
251.0
251,5
252.1
251,1
250.1
253.1
253.3
260.3
265.2
265.2
269.2
274.6
278.3
284.3
287.0
292.7
200.2
251.1
251.3
256.4
260.9
266.6
264,3
270.8
268.3
264.5
273.6
276.8
286.8
276 .8
277.7
278.8
284.0
281.2
285.1
287 .4
287.0
292.4
292.8
292.0
261.8
271 .4
282.5
289,6
300.6
286.8
18.7
38.3
52.4
57.5
47.9
44.5
45 .9
50.0
53.9
53.9
53,7
57.4
63.7
64.6
65.2
67.3
78.8
90.9
98.0
97.6
95.7
96.2
101.7
102.0
111.0
122.7
129.2
143.4
153.6
168.3
197 .0
291.9
228.9
258.9
269,7
AVERAGE
*
1 950
1951
1 952
1 953
1954
1 956
1 957
1958
1959
1 960
1 961
1962
1 963
1 964
1965
1 966
1 967
1968
1 969
1970
1971
1972
1 973
1974
1975
1 976
1 977
1 97 8
197 9
1 980
1 981
1 982
1 983
1984
....
....
....
....
....
47.3
82.2
107.2
114.7
96.1
88.2
86.6
90.6
93.4
91.4
90.4
95.3
102,8
101.8
100.2
100,3
112.6
125.1
128,1
121.8
110.6
103.7
101.7
95 .9
96.6
97,4
96.8
100.4
100.3
102.1
106.4
110.3
117,0
116 .2
48.1
65.0
100.7
113.5
103.9
89.5
86.6
91.0
90.9
92.3
88.9
92.6
102.2
102.2
101 .8
96.8
106.5
122.5
127.8
123 .6
115.1
105.6
104.3
98.9
95.3
96.8
96.5
97.6
98.8
102.2
105 .8
107 .4
114.8
119.0
45 .4
77 .0
106.3
115.9
96.5
86.8
87.6
91.3
93.2
92.0
90.4
94.6
102.1
100.6
101 .3
99.0
108.8
124.6
129.5
123.5
110.9
102.6
103.3
94.9
96.9
96.5
96.3
100.2
99.0
101.0
109.3
108.2
111,0
117.2
44.5
89.5
111.6
114 ,4
93.3
89,2
85,9
90.7
93.9
90.8
91 .1
95 .4
103 ,7
102.3
99.1
100 .5
116.8
127.1
128.8
120.8
108.8
104.1
101 .0
93.5
96.8
98.1
96.8
102.2
101 .1
101.9
106 .2
111.7
117,2
115.6
51.0
97.4
110.0
115,1
90.8
87.2
87.2
89.5
96.0
90.3
91 ,3
98.7
103 .2
102.0
98.6
104.7
118.3
126.3
126.5
119.1
107.5
102.7
98.1
96.3
97.5
98.2
97.4
101.8
102 .4
103.4
104.2
19.1
20.9
22.6
24.5
26 .7
29.8
32.3
35.9
39.5
43.6
44.9
49.7
53.1
57.2
62 .4
67.7
76 .4
86.3
96.4
107 .5
118.4
133 .9
147.0
161.9
182.8
19.4
21.6
23.3
24.4
27.4
30.3
33.1
36.7
40.6
43.7
46.2
49.9
53.8
58.0
64.2
69.8
7 8.5
88.0
99.7
110.3
122.0
137.4
148.7
165.9
191 .0
213.5
231.8
20 .0
22.1
23 ,1
25 .1
28.4
30.7
33.9
37.5
41.7
43.8
47.2
50.8
54.7
59.8
65.3
72.6
80.5
89.9
102 .3
112.4
126.9
139.9
152.5
170.2
196 .6
220 .3
23 .4
25 .5
28 .2
31 .5
34 .6
369.1
20.5
22.4
23.8
25.8
28.7
31 .3
34.6
38.5
42.7
43.7
47.9
52.7
55.6
61.2
66,4
74.3
83.9
92.9
105 .4
114,6
130.3
143.4
157.5
175.9
201 .9
226 .4
236 .2
352.4
375,8
306.0
340.8
367.6
394.7
420.6
401.6
425.1
391.5
415.8
113.8.
124.8
113.0
GOVERNMENT PURCHASES OF GOODS AND SERVICES
AS A P E R C E N T OF GNP
(PERCENT)
1 950
.....
1 951 ....
1 952
1 953
1 954
1 955
1956
1 957
1958
1959
1960
1961
1962
j 963
1 964
1 965 . . . .
1 966
1 967 ....
1968
1969
1970
1 97
1 97
197
197
197
197
1 97
1 97
197
198
198
198
1983
1984
AVERAGE
95.5
141 .2
163.7
170.0
153.8
153.5
152.9
161.6
171,0
170.2
174.4
182.7
194.6
199.3
260.8
263.0
264.9
26 9.0
Annual
2 6 3 . F E D E R A L G O V E R N M E N T P U R C H A S E S O F G O O D S A N D S E R V I C E S IN
IN
AVERAGE
1 950 ....
1951
1952
1953
1 954 . . . . .
1 955 . . . .
1 956
1957
1958
1959
1960
1961
1 962
1 963
1964
1 965
1 966
1967
1 96 8
1969 ....
1 970
1 971
1972
1 973 ....
1974
1 975
1976
1977
197 8
1 97 9
1 980
1981
1 982
1983
1984
II Q
AVERAGE
6 .6
11.6
15.0
15.7
13.1
11 .1
10 .9
11.2
12.0
11.1
10.6
11.0
11.3
10.8
10.2
9.8
10.4
11.4
11 .2
10 .4
9.6
6.9
8.6
7.7
7.8
7.9
7.5
7.5
7.1
7.0
7.5
7.8
8.4
8.2
1 950
1 951
1 952
1 953
1 954
1955
1 956
1 957
1958 . . . .
1959
1 960
1961
1962
1963
1964
1965
1 966
1967
1968
1969
1970
1971
1972
1973
1974
1975
1976
1977
1978
1979
1980
1981
1982
1983
1984
208.5
230.4
242.1
265.5
292.5
329.6
248.4
275,3
301.2
361.0
381.1
336,5
364.4
388.7
405.8
411.6
258.4
289.3
319.8
19.8
21.8
23 .2
25 .0
27.8
30.6
33.5
37.1
41 .1
43,7
46.5
50.8
54.3
59.0
64.6
71.1
79.
89.
101,
111.
124.
138.
151.
168,
193.
217.
232.
250.
278.
(OCTOBER 1
103
C. Historical Data for Selected Series—Continued
Year
IQ
II Q
III Q |
IV Q
267. STATE A N D LOCAL G O V E R N M E N T PURCHASES OF GOODS AND
S E R V I C E S IN 1 9 7 2 DOLLARS
( A N N U A L RATE, B I L L I O N D O L L A R S )
1 95 p
1 951 , , ...
1952
1 953
1 954 . ,
1955
1956
j 957
1958
.1959
1 960
1 961 ....
1962
1963
1 964
1965
1966
1967
1968
1969
1 970 ., ...
1971
1972
1973
1 9 7 4 . ....
1975 ....
1376
1977
1 9 7 8 ....
1979
1 900
1 gal
1 982 . . , ,
1983
1 984
50.4
50.7
52.2
54.3
58.;
63.3
65.5
69.2
74.2
79.3
80.3
86.3
89,1
93.6
99.9
105.3
114.7
121 .7
128.7
135.0
137.6
144.4
150.2
155.7
162.2
166.2
170. 5
168.0
171.6
174.2
178.1
178.6
175.4
175.3
( A N N U A L RAT3,
1 950 . . . , ,
1 951 ....
1952
1953
\ 954
1 955 . . , , ,
1 956 .
1957
1958 ....
1959
1.960
1 961
1 962 ....
1 963 ....
1 964 . . .
1965
1966
1 967
196 8 . . . .
1969
1970
1971
1 972 . . ,
1973
j 9 7 4 . , ...
1 975 ...
1976
1 977
1978
1979
1 980
1 981
1 982
1983
1984
144.2
174.5
191.0
207.*
207.3
216.3
237.1
254.2
254,0
273.1
292.5
296.4
318.4
335.3
357.4
384.5
423.4
459.9
500.6
551.7
602.5
635 .4
693.7
773.3
848.1
993.6
1001.4
1101 .1
1237.2
1406.5
1555.6
1716.1
1834.2
1921 .3
50.8
51.5
53.1
54.3
59.0
64.1
66.5
69.8
75.6
79.3
82.0
86.4
89.7
94.4
102.1
108,2
116.0
122 .4
131.4
135,7
138.7
145,7
150.0
156.2
163.9
166.5
168.6
168.8
174.7
175.9
177.5
176.9
176,0
175.2
NOTE:
16.8
16,0
15.0
14.1
14.0
13.2
12.6
12.3
13,3
12.2
11.2
11.6
11 .0
10.5
10. 0
9.9
10.1
9.3
8.9
8.8
8.4
8.1
8.0
8.4
8.2
7.0
7.0
6.9
6.7
6.8
5.9
5.6
4.8
4 .5
51.
51.
53.
56.
60.
64.
67.
72.5
78.7
79.0
84.1
89.7
91.8
98.2
104.6
113.0
120.4
125.9
134.6
135.9
143.4
148.8
154,0
160.1
164.3
170.2
167,1
169.6
175.3
177.8
178,3
175.9
175.8
175 .8
150.2
180.1
192.3
210.7
206.9
222.8
241 .7
256.0
253.5
280.2
295.4
300.5
324.3
340.1
364 .7
391.2
434.5
465.3
513. a
565 .6
608.7
647 .3
709.0
791 .3
868.8
914.4
1023.9
1136.0
1283.2
1434.9
1574.8
1747.6
1857,7
1962.4
16.3
15,7
15.3
13.7
3.6
3.0
2.5
2,4
3.2
1 .9
11 .5
11 .4
10.9
10.4
10.0
10.1
9.7
9.3
8.8
8.7
8.2
8.0
8.1
8.6
7.7
.3
.9
.6
.8
.9
5.4
5.3
4.4
4.5
158.5
183.3
195.8
210.8
207.5
227.7
244.7
258.6
259.6
280.9
296.2
305.4
327.1
345.0
371.9
399.3
445.5
474.8
527.0
581.8
617.4
657.3
722.9
809.3
889.9
939.2
1046.9
1167.8
1320.4
1477.6
1604.5
1785 .5
1876 .3
2000.7
166.4
186.0
203.6
209.3
211.8
232.8
250.5
257.0
265.8
284.1
295.6
312,0
330.5
351.1
377.8
411.2
453.8
485.6
539,4
592.3
619,3
668.7
746.3
831.3
903.1
968.0
1073.2
1203.4
1363.6
1513.6
1663.6
1812.5
1888.7
2055.4
50.8
51.5
52,7
55.3
59.9
64.1
66.7
70 .6
76.4
79.2
82.4
87.5
90.4
95.8
102.4
109.5
117.1
123 .4
132.1
135.6
140.5
146.4
151.4
157.4
163.6
167 .8
168.4
168.8
174.3
176.2
177.9
176.8
175.7
175.7
IQ
154.8
181 .0
195.7
209.6
208.4
224.9
243.5
256.5
258.2
279.6
294,9
303 .6
325.1
342.9
368.0
396.5
439.3
471.4
519.9
572.9
612.0
652.2
718.0
801.3
877.5
931.4
1036.3
1152.1
1301 .1
1458.1
1599.6
1765.4
1864.2
1 9 84 . 9
II Q
III Q
1950
1951
1952
1953
1954
1955
1956
1957
1958
1959
1960
1961
1962
1 953
1964
1 965
1 966
1967
1968
1 969. . .
1 970
1 971
1 972
1973
1974
1975
1 976
1977
1978,.,,,
1979
1980
1 9 8 1 . . . ..
1982
1983..'...
1 984
7.1
6.5
6.6
6.7
7.4
7.7
7.8
8.2
9.0
9.1
8.9
9.8
9.6
9.8
10.0
10.1
10.3
11.1
11.5
11 .7
12.2
12.8
12.9
12 .6
13 .2
14 .1
13.8
13 .2
13.1
12.5
12.8
12.6
12.6
12,8
7.0
6.6
6.8
6.6
7.6
7.6
7.9
8.3
9.2
8.9
9.1
9.6
9.6
9.8
10.1
10.2
10.5
H.2
11.5
11.8
12.4
12.9
12.7
12.7
13.4
14,1
13.6
13.1
12.9
12.7
13.0
12.5
12.7
12.6
16.3
15,6
15,6
13.5
13.7
12.9
12.6
12.5
12.9
11.8
11.4
11 .2
10.7
10.3
10.0
10,0
9.5
9.3
.9
.5
.0
.8
.9
.7
7.5
7.5
6.7
6.6
6.7
6.7
5.5
5.4
4.2
4.6
16.3
15,8
15.0
13.8
13.7
13.0
12.6
12.4
13.0
11.9
11.4
11.3
10.8
10.4
10.0
10.0
9.6
9.2
8.8
8.6
8.2
8.0
8.0
8.6
7.7
7.3
6.8
6.7
6.7
6.7
5.6
5.3
4.6
4.6
6.7
6.6
6.6
7,1
7.6
7.6
8.0
8.7
9.1
a. B
9.5
9.7
9.7
10.0
10,2
10.4
10.8
11.3
11.7
11.9
12.9
13.0
12.8
12.8
13.7
14.0
13.3
13.0
12.7
12.8
12.9
12.4
12.9
12 .4
36.9
42.5
42 .4
42.6
41.6
42.2
43.2
44.6
47.5
47.8
46 .6
48.0
49.8
50.0
51.2
54.7
61.7
59.9
62.3
67.2
66 .9
68.7
74.5
88.1
92.9
82.7
93.9
100.8
111. I
128.9
1234
127.8
116 . 8
114.7
37.4
42.9
43.4
41.8
40.5
42.8
43.5
45,1
47.4
48.2
47.8
48.3
49.9
50.3
52.2
57.0
60.4
60.8
63.2
67.3
66.4
68.7
76.5
92.1
88.5
87.8
94.6
100.3
118.1
134.1
111.7
123.9
107.7
116.9
39.8
43.3
45 .1
41,1
41.3
43.1
44.3
46.0
47.7
47.4
47.3
48.6
49.9
50.7
52.9
57.6
60.2
62.1
64.8
67.1
65.7
68.2
76.6
95.8
87.4
94.7
92.5
103.9
120.1
133.3
116.7
129.7
102.2
123.3
40.7
44.1
42.5
41.5
41.5
43.5
44.8
45.5
48.2
47.0
47.1
49.4
49.9
51.1
53.5
58.5
59.7
62.0
65.
66.
65.
71.
79.
99.
86.1
94.9
95.3
110.4
124.8
132.2
118.3
119. 1
117.6
131.9
AVERAGE
6.9
6.6
6.6
6.8
7.6
7.6
7.9
8.4
9.1
9.0
9.2
9.7
9.6
9.9
10.1
10.3
10.6
11.2
11.6
11.8
12.5
12.9
12.8
12.7
13 .4
14.0
13.6
13.0
12.9
12.6
13.0
12.4
12.8
12.6
38.7
43.2
43.4
41.8
41.2
42.9
43.9
45.3
47.7
47.6
47.2
48.6
49. 9
50.5
52.5
56,9
60.5
61.2
64.0
67.0
66.2
69.4
76.9
93.8
88.7
90.0
94.1
103.9
118.5
132.1
117.4
125.1
111.1
121.7
DJ
( A N N U A L RATE, B I L L I O N S OF DOLLARS)
1950
1951
1952
1953
1954
1955
1956
1957
1958
1 95 9 ...
1 960 . .
1961
1962
1 963
1964 .....
1 965 . , .
1 966 . . .
1967
1968
1969
1970
1971
1 972
1 973
1 974
1975
1976
1977
1978
1979
1980
1981
1982
1983
1984
Annual
AVERAGE
( A N N U A L RATE, M I L L I O N S OF D O L L A R S )
1 950 ....
1 951
1952
1953
1954
1955
1956
1957
1958
1959
1960
1 961
1962
1 963 ....
1 964 . . .
1 965
1 966
1967
1968
1969
1970
1971
1972
1973
1974
1975
1976
1977
1978
1979
1980
1 981
1982
1983
1984
AVERAGE
15.8
15.7
14.3
4.0
3.4
2.8
2.5
2.5
2.6
1.6
1.4
1.1
0.6
0.2
0.0
9.9
9.3
9.1
8.8
8.4
8.1
8.0
7.9
8.8
7.3
7.3
6.7
6.8
6.7
6.5
5.4
4.9
4.8
4.8
IV Q
6.8
6.6
6.6
6.8
.7
.6
.0
.3
.2
.0
.3
.6
.6
.9
10.2
10,4
10.6
11.2
11.6
11.8
12.6
12.9
12,7
12.7
13.5
14.0
13.5
12.9
12.9
12.6
13.1
12.3
12.8
12.6
28
(PERCENT)
These senes ccntain revisions beginning with 1981.
104
AVERAGE
Year
2 6 8 . STATE AND LOCAL G O V E R N M E N T P U R C H A S E S OF GOODS AND
S E R V I C E S AS A P E R C E N T OF GNP
(PERCENT)
AVERAGE
B I L L I O N S OP D O L L A R S )
283. P R O P R I E T O R S ' I
P E R C E N T OP RAT X Q N A L INCOME
1950
1951
1952
1953
1954
1955
1956
1957 ....
1958
1959
1960
1961
1962... .
1963....
1964
1965
1966
1967
1968
1969... .
1 9 7 0 . .. ,
197 ....
197
197
197 . . . .
197
197 . . . .
197 ....
197
1 9 7 9 . ...
1980
1981
1 9 8 2 . . ..
1983
1984
50.9
51 .8
52.1
55.6
60.6
64.3
66.9
70.8
77.2
79.4
83.3
87,3
90.9
96.9
103.3
111.3
117.2
123.5
133.4
136.0
142,1
146.5
151.6
157.8
164.1
168.4
167.6
168.6
175.7
176,8
177.8
175.7
175.7
176 ,4
Annual
6.8
7.4
8.2
9.5
10.6
1 .2
1 .4
1.9
2 .7
3.0
4.3
4.8
5.4
16.3
17,0
17.5
18.6
19.3
19.5
19.7
19.5
19.6
21.2
22.3
23.4
23.3
23 .1
24.8
25 .2
28.2
29.0
38.7
47.8
57.7
6.9
7.5
8.6
9.8
10.9
11.2
11.6
12.1
12.8
13.5
14.5
14.9
15.6
16.5
17 .0
18.0
18.5
19.8
19.6
19.9
19.8
20.1
17.6
21.6
23.2
23.1
22.7
24.4
25.0
27.0
30,1
40.8
48.3
59.0
7.2
7.8
9.0
10.2
11,2
11.3
11.7
12.4
12.9
13.9
14.6
15.1
15.8
16.7
17.0
18.1
18.9
19.9
19.6
19.5
19.8
20.5
22.7
22.9
23.7
22.8
23.6
25,5
27.8
27.2
32.5
42.9
52.9
56.2
AVERAGE
7.4
8.1
9.4
10.6
11.4
11.4
11 .8
12.5
13.1
14 .2
14.6
15 .3
16.2
16.6
17.2
18.3
18.9
19.8
19.5
19.2
19.7
20.7
22.4
23.5
23.8
22.9
24.6
24.5
28.4
29.2
34.4
46.8
57.0
60.4
7.1
7 .7
8.8
10.0
11.0
11.3
11.6
12.2
12.9
13.6
14.5
15.0
15.8
16.5
17 .1
18.0
18.7
19.7
19.5
19.6
19.7
20,2
21.0
22.6
23.5
23.0
23.5
24.8
26.6
27.9
31.5
42.3
51.5
58.3
(OCTOBER 1984}
G. Experimental Data and Analyses
(Nov.)
P
Implicit price
deflator, gross
nonfarm business
product
(Index: 1977=100)
Unit labor cost,
all persons, nonfarm
business sector
(Index: 1977=100)
1982
I Q....
II Q...
Ill Q..
IV Q...
(Nov.)
T
Ill III III 1U III III III TTT T l T T M l 111 Hi Ml III
Components of BCD series 26 x
Year
and
quarter
(Jan.)(July) (July)
P T
P
(Mar.)
T
146.5
148.6
149.3
150.2
151.4
154.2
155.6
157.1
151.9
152.7
153.8
155.2
157.6
155.9
155.9
157.1
Components of BCD series 26—
Ml
I
Implicit price deflator, gross nonfarm
business product, Q
(index: 1977 = 100)
m
1983
I Q....
II Q...
Ill Q..
IV Q...
Unit labor cost, all persons, nonfarm
business sector, Q
(index: 1977 = 100)
170
160
150
140
130
120
110
100
1984
156.3
r!57.3
p!58.7
I Q....
II Q...
Ill Q..
IV Q...
Vaav
Manufacturing
(Ratio)
90
158.3
r!57.6
p!59.1
Inventory-sales ratios in 1972 dollars 2
i ear
and
month
Ratio scale
170
160
150
140
130
120
110
Merchant
wholesalers
(Ratio)
80
Arithmetic
scale
Inventory-sales ratios in 1972 dollars (ratio)—
Retail trade
2.2
(Ratio)
2.1
1983
Jan.
Feb.
Mar.
Apr.
May.
June
1.96
1.96
1.91
1.90
1.87
1.81
1.44
1.47
1.45
1.46
1.38
1.34
1.36
1.38
1.35
1.35
1.33
1.31
July
Aug.
Sept
Oct.
Nov.
Dec.
1.83
1.80
1.78
1.77
1.74
1.69
1.35
1.35
1.35
1.34
1.34
1.32
1.31
1.33
1.32
1.32
1.32
1.31
2.0
El
1.9
1.8
1.7
1.5
1.4
1984
Jan.
Feb.
Mar.
Apr.
May.
June
1.71
1.72
1.72
1.74
1.74
1.75
1.30
1.34
1.33
1.34
1.30
1.29
1.29
1.33
1.36
1.34
1.32
1.30
July
Aug.
Sept
Oct.
Nov.
Dec.
rl.76
pi. 76
(NA)
rl.32
pi. 35
(NA)
rl.33
pi. 34
(NA)
1.3
1.2
1.5
1.4
1.3
ill ILL ILL tit ill
ILL ILL 111 ILL 111 Html I l l l l l l
1971 1972 1973 1974 1975 1976 1977 1978 1979 1980 1981 1982 1983 1984
NOTE: The "r" indicates revised; "p", preliminary; and "NA", not available.
Source: U.S. Department of Labor, Bureau of Labor Statistics.
2
Source: U.S. Department of Commerce, Bureau of Economic Analysis.
1(
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,
manufacturina (hours)
5. Average weekly initial claims, State
unemployment insurance 1 (thousands)
8. New orders for consumer goods and materials
in 1972 dollars (billion dollars)
32. Vendor performance, companies receiving
slower deliveries (percent)
12. Net business formation
(index: 1967=100)
20. Contracts and orders for plant and equipment
in 1972 dollars (billion dollars)
29. New building permits, private housing
units (index* 1967=100) . . . .
. . .
36. Change in inventories on hand and on order in
2
1972 do!., smoothed (ann. rate, bil. do! . ) .
99. Change in sensitive materials prices,
smoothed 2 (percent)
19. Stock prices, 500 common stocks
(index- 1941-43=10)
106.
Money supply (M2) in 1972 dollars
(billion dollars)
111. Change in credit—business and consumer
borrowing (annual rate, percent)
910.
Composite index of 12 leading indicators 3
(index: 1967=100)
ROUGHLY COINCIDENT INDICATORS
41. Employees on nonagri cultural 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
indicators 3 (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, manufacturing-actual data as a percent of trend (percent) .
109.
Average prime rate charged by banks
(percent)
.
.
101. Commercial and industrial loans outstanding
in 1972 dollars (million dollars) . .
95. Ratio, consumer installment credit to
personal income (percent) .
.
.
. . .
930.
Composite index of 6 lagging indicators 3
(index- 1967=100)
June
1984
July
1984
40.6
Sept.
1984
Aug.
1984
40.5
June
to
July
1984
July
to
Aug.
1984
Aug.
to
Sept.
1984
40.4
p40.5
-0.08
-0.08
0.08
350
365
358
368
-0.12
0.05
-0.08
36.65
r37.86
r37.90
p36.08
0.16
0.01
-0.26
66
60
54
58
-0.24
-0.24
0.18
rl!6.6
rl!6.8
rl!9.4
p!20.8
0.02
0.31
0.18
r!5.97
r!5.41
r!5.45
pi 5 . 43
-0.08
0.01
-0.01
142.8
126.4
121.6
116.3
-0.36
-0.12
-0.14
r26.75
r!8.85
p!3.66
-0.44
-0.29
-0.13
-0.64
-1.05
-1.06
-0.20
-0.16
153.12
151 . 0 8
164.42
166.11
-0.08
0.53
0.07
918.0
919.1
r918.6
p 9 2 1 .4
0.04
-0.02
0.11
r22.1
r!4.1
p!2.4
-0.42
-0.21
0.13
10.1
NA
NA
-0.01
r!66.9
r!64.1
r!64.0
p!64.6
-1.68
-0.06
0.37
94,135
r94,350
r94,532
p94,671
0.19
0.16
0.16
1,181.8
rl, 1 8 3 . 0
rl,183.6
0.05
0.03
0.28
r!64.4
r!65.9
r!66.1
p!65.1
0.25
0.03
-0.22
178,417
r!76,566
p!76,556
NA
-0.23
-0.01
155.5
155.7
r!55.7
p!55.8
0.13
0.00
0.06
18.6
18.1
17.3
0.20
0.33
0.12
1.51
1.54
pi. 55
0.40
0.13
84.7
83.6
r83.4
p83.1
-0.40
-0.07
-0.16
12.60
13.00
13.00
12.97
0.28
0.00
-0.03
rl!8,087
pl!9,806
0.23
0.18
0.56
rl!6,244
rl!7,268
pi, 188. 7
17.1
NA
14.31
14.45
p!4.56
NA
0.54
0.42
rl!7.4
rl!8.8
r!20.0
p!20.7
1.19
1 .01
NA
NA
NA
0.58
NOTE: The net contribution of an individual component is that component's share in the composite movement of the group. It
is computed by dividing the standardized and weighted change for the component by the sum of the weights for the available components and dividing that result by the index standardization factor. See the February 1983 issue of BUSINESS CONDITIONS DIGEST
(pp. 108-109) for the weights and standardization factors. NA, not available, p, preliminary, r, revised, e, estimated.
x
This
2
This
3
series is inverted in computing the composite index; i.e., a decrease in this series is considered an upward movement.
series is a weighted 4-term moving average (with weights 1,2,2,1) placed on the terminal month of the span.
Figures in the net contribution columns are percent changes in the index. The percent change is equal (except for rounding
differences) to the sum of the individual components' contributions plus the trend adjustment factor. The trend adjustment
factor for the leading index is 0.139; for the coincident index, -0.175; for the lagging index, 0.018.
106
G. Experimental Data and Analyses—Continued
Cyclical Comparisons: Current and Selected Historical Patterns
1. Average workweek, production
workers, manufacturing
lull
Devi-
Actual
ations
data
from
reference
current
peaks
cycle
for
MONTHS DEVIFROM ATIONS CURRENT MONTH
REF.
FROM ACTUAL
AND
TROUGH
DATA YEAR
7/81
11
+2
+1
Average workweek, production
workers, manufacturing
Deviations
from
specific
troughs
SERIES
1
HOURS
Percent
-i + 3
rjTTTn|rnii|Tim|mii|imi|iiiM|i
12
1.8
1.8
40.6
40.6
10/83
11/83
13
14
15
16
1.8
2.5
2.5
2.0
40.6
40.9
40.9
40.7
12/83
1/84
2/84
3/84
17
18
19
20
3.0
1.8
1.8
1.5
41.1
40.6
40.6
40.5
4/84
5/84
6/84
7/84
21
22
1 .3
1.5
40.4
40.5
8/84
9/84
MONTHS DEVIFROM ATIONS CURRENT MONTH
SPEC.
FROM ACTUAL
AND
TROUGH
DATA YEAR
9/82
-1
SERIES
1
HOURS
-2
• 39.0
1975
-3
13
14
15
16
4.6
4.6
4.6
5.4
40.6
40.6
40.6
40.9
10/83
11/83
12/83
1/84
17
18
19
20
5.4
4.9
5.9
4.6
40.9
40.7
41.1
40.6
2/84
3/84
4/84
5/84
21
22
23
24
4.6
4.4
4.1
4.4
40.6
40.5
40.4
40.5
6/84
7/84
8/84
9/84
-5
-J -6
• 37.5
MONTHS
DEVIFROM ATIONS CURRENT MONTH
REF.
FROM ACTUAL
AND
TROUGH
7/81
DATA YEAR
SERIES 41
THOUSANDS
41. Employees on nonagricultural payrolls
Percent
+8
• 98,000
• 96,000
11
12
-0.1
0.2
91345
91688
10/83
11/83
13
14
15
16
0.6
1.0
1.5
1.7
92026
92391
92846
93058
12/83
1/84
2/84
3/84
17
18
19
20
2.2
2.5
2.9
3.2
93449
93786
94135
94350
4/84
5/84
6/84
7/84
21
22
3.4
3.5
94532
94671
8/84
9/84
SERIES 41
THOUSANDS
> 92,000
> 90,000
-2
II1111111111111 1111111111111111111111111111
-12 -6
0 +6 +12 +18 +24 +30
• 88.000
11
12
3.4
3.8
91688
92026
11/83
12/83
13
14
15
16
4.2
4.7
5.0
5.4
92391
92846
93058
93449
1/84
2/84
3/84
4/84
17
18
19
20
5.8
6.2
6.4
6.6
93786
94135
94350
94532
5/84
6/84
7/84
8/84
21
6.8
94671
9/84
Months from reference troughs
NOTE:
10
MONTHS DEVIFROM ATIONS CURRENT MONTH
SPEC.
FROM ACTUAL
AND
TROUGH 12/82
DATA YEAR
+2
-" -4
41. Employees on nonagricultural payrolls
-12
-6
0
+6
+12 +18 +24 +30
Months from specific troughs
For an explanation of these charts, see "How to Read Charts" on p.. 106 of the July 1984 issue.
107
G. Experimental Data and Analyses—Continued
Cyclical Comparisons: Current and Selected Historical Patterns—Continued
12. Net business formation
'in
MONTHS
DEVIFROM ATIONS CURRENT MONTH
REF.
FROM ACTUAL
AND
TROUGH
7/81
DATA YEAR
SERIES
12
1967=100
11
12
-0.2
-0.3
118.0
117.8
10/83
11/83
13
14
15
16
-1 .6
-1 .9
0.8
-0.5
116.3
115.9
119.1
117.6
12/83
1/84
2/84
3/84
17
18
19
20
0.3
-2.0
-1 .4
-1 .2
118.5
115.8
116.6
116.8
4/84
5/84
6/84
7/84
21
22
1 .0
2.2
119.4
120.8
8/84
9/84
MONTHS
DEVIFROM A T I O N S C U R R E N T MONTH
SPEC.
FROM ACTUAL
AND
TROUGH
9/82
DATA
YEAR
SERIES
12
1967=100
13
14
15
16
6.9
6.7
5.3
5.0
118.0
117.8
116.3
115.9
10/83
11/83
12/83
1/84
17
18
19
20
7.9
6.5
7.3
4.9
119.1
117.6
118.5
115.8
2/84
3/84
4/84
5/84
21
22
23
24
5.6
5.8
8.2
9.4
116.6
116.8
119.4
120.8
6/84
7/84
8/84
9/84
MONTHS
DEVIFROM A T I O N S CURRENT MONTH
REF.
FROM ACTUAL
AND
TROUGH
7/81
DATA YEAR
SERIES
19
1941-43=10
12
28.0
165.23
11/83
13
14
15
16
27.3
28.9
21 .8
21.9
164.36
166.39
157.25
157.44
12/83
1/84
2/84
3/84
17
18
19
20
22.0
21.2
18.6
17.0
157.60
156.55
153.12
151.08
4/84
5/84
6/84
7/84
21
22
23
27.3
28.6
27.0
164.42
166.11
163.97
8/84
9/84
10/84
MONTHS
DEVIFROM A T I O N S C U R R E N T MONTH
SPEC.
FROM ACTUAL
AND
TROUGH
7/82
DATA YEAR
SERIES
19
1941-43=10
-12
-6
0 + 6 +12 +18 + 24 +30
16
51.1
165.23
11/83
17
18
19
20
50.3
52.1
43.8
43.9
164.36
12/83
1/84
2/84
3/84
21
22
23
24
44.1
43.1
40.0
38.1
157.60
156.55
153 .12
151 .08
4/84
5/84
6/84
7/84
25
26
27
50.3
51.9
49.9
164.42
166 .11
163.97
8/84
9/84
10/84
166 .39
157 .25
157.44
Months from reference troughs
NOTE: For an explanation of these charts, see "How to Read Charts" on p. 106 of the July 1984 issue.
108
-12
-6
0 + 6
+12 +18 +24 +30
Months from specific troughs
G. Experimental Data and Analyses—Continued
Cyclical Comparisons: Current and Selected Historical Patterns-Continued
QRTRS.
FROM
REF.
TROUGH
30. Change in business inventories
1972 dollars
CURRENT QRTR.
ACTUAL
AND
DATA YEAR
Devi- Actual
ations
data
from
for
specific current
troughs cycle
30. Change in business inventories,
1972 dollars
0
SERIES 30
ANN. RATE
BIL. DOL.
-24.6 IV/82
1
2
3
4
-16.5 1/83
-6.1 11/83
0.9 111/83
7.2 IV/83
55
5
6
7
31.6
1/84
20.3 11/84
31.2 HI/84
50
• + 25
45
• + 20
Actual
-1 60
QRTRS. DEVIFROM ATIONS CURRENT QRTR,
SPEC.
FROM ACTUAL
AND
' TROUGH IV/82
DATA YEAR
SERIES 30
ANN. RATE
BIL. DOL.
0. T -24.6 IV/82
1
2
3
4
8.1
18.5
25.5
31.8
-16.5
1/83
-6.1
11/83
0.9 III/83
7,2 IV/83
35
5
6
7
56.2
44.9
55.8
31.6
1/84
20.3
11/84
31.2 HI/84
30
25
20
• -5
15
-10
10
•-is
5
•-20
QRTRS. DEVIFROM ATIONS CURRENT QRTR.
REF.
FROM ACTUAL
AMD
TROUGH HI/81
DATA YEAR
0
• 1,725
-
+10
•1.675
1,625
i
2
3
4
-2.0
0.2
1.8
3.3
1491 .0
1/83
1524.8 11/83
1550.2 HI/83
1572.7 IV/83
5
6
7
5.8
7.7
8.4
1610.9
1/84
1638.8 11/84
1649.6 HI/84
-12
-6
0
+6
Percent
15
• 1,675
10
5
6
6.5
9.1
7
8
10.9
11.7
1,525
1572.7 IV/83
1610.9
1/84
1638.8 11/84
1649,6 H I / 8 4
+12 +18 +24 +30
•1,625
• 1.575
S E R I E S 50
A N N . RATE
BIL. DOL.
IV/82
0 , 1 1478,8
1/83
0 . 9 1491.0
3 . 2 1 5 2 4 . 8 11/83
4.9 1550,2 HI/83
Months from reference troughs
MOTE:
50. GNP in 1972 dollars
ctc,c I
QRTRS. DEVIFROM ATIONS CURRENT QRTR.
AND
SPEC.
FROM ACTUAL
DATA YEAR
TROUGH HI/82
• 1.525
-I -5
SERIES 50
ANN. RATE
BIL. DOL.
-2.8 1478,8 IV/82
-1 0
-12
-6
0
+6
•1,475
+12 +18 +24 +30
Months from, specific troughs
For an explanation of these charts, see "How to Read Charts" on p. 106 of the July 1984 issue.
109
ALPHABETICAL INDEX—SERIES FINDING GUIDE
Series title
(See complete titles in "Titles and
Sources of Series," following this index)
Accession rate, manufacturing
Agricultural products, exports
Anticipations and intentions
Business expenditures, new plant and equipment
Business expenditures, new plant and equipment, Dl,
Consumer sentiment, index
Employees, manufacturing and trade, Dl
Inventories, manufacturing and trade, Dl
New orders, manufacturing, Dl
Prices, manufacturing, Dl
Prices, retail trade, Dl
Prices, wholesale trade, Dl
Profits, manufacturing and trade, Dl
Sales, manufacturing and trade, Dl
Automobiles
Imports of automobiles and parts
Personal consumption expenditures
Current issue
(page numbers)
number Charts Tables
Series
Historical
data
(issue date)
Series
description
(*)
2
604
8/81
1/83
7
56
61
970
58
974
975
971
976
978
977
972
973
24
38
22
38
38
38
38
38
38
38
38
67
76
65
76
76
76
76
76
76
76
76
8/84
8/84
1/84
5/83
5/83
5/83
5/83
5/83
5/83
5/83
5/83
23
23
20
37
37
37
37
37
37
37
37
616
55
56
22
92
65
1/83
9/84
56
39
B
Balance of payments—See International transactions.
Bank loans—See Business Loans.
Bank rates—See Interest rates.
Bank reserves
Free reserves
Member bank borrowing from the Federal Reserve...
Bonds—See Interest rates.
Borrowing—See Credit.
Budget—See Government
Building—See Construction.
Building permits, new private housing
Business equipment, industrial production
Business expenditures, new plant and equipment
Business expenditures, new plant and equipment, Dl....
Business failures, current liabilities
Business formation, index
Business incorporations
Business inventories—See Inventories.
Business loans
Loans outstanding, constant dollars.
Loans outstanding, current dollars
Loans outstanding, net change
Business saving
Canada—See International comparisons.
Capacity utilization
Manufacturing (BEA)
Manufacturing (FRB)
Materials
Capital appropriations, manufacturing
Backlog
Newly approved
Newly approved, Dl
Capital equipment, producer price index
Capital investment—See Investment, capital.
Capital investment commitments, Cl
Cash flow, corporate, constant dollars
Cash flow, corporate, current dollars
Civilian labor force—See also Employment.
Employment
Employment as percent of population
Total labor force
Unemployed
Coincident indicators, four
Composite index
Composite index, rate of change
Diffusion index
Ratio to lagging indicators, composite index
Commercial and industrial buildings, contracts awarded..
Commercial and industrial loans
Loans outstanding, constant dollars
Loans outstanding, current dollars
Loans outstanding, net change
Compensation—See also Income.
Compensation, average hourly, nonfarm
business sector
Compensation of employees, NIPA
Compensation of employees, percent of
national income
Compensation, real average hourly, nonfarm
business sector
Earnings, average hourly, production workers,
private nonfarm economy
Earnings, real average hourly, production workers,
private nonfarm economy
Wage and benefit decisions, first year
Wage and benefit decisions, life of contract
Wages and salaries in mining, manufacturing,
and construction
Composite indexes
Coincident indicators
Four coinciders, index
Four coinciders, rate of change.
Ratio to lagging indicator index
Lagging indicators
Six laggers, index
Six laggers, rate of change,
Leading indicators
Capital investment commitments.
Inventory investment and purchasing.
Marginal employment adjustments
Money and financial flows
See notes at end of index.
110
93
94
33
33
72
72
6/83
6/83
35
35
29
76
61
970
14
12
13
13,25
24
24
38
33
12,23
23
67
67
67
76
72
65
65
7/84
8/84
8/84
8/84
5/83
2/83
5/83
24
12
23
23
34
21
21
101 15,35
72
35
112
32
295
46
73
73
72
82
6/84
6/84
6/84
11/83
32
32
32
26
83
82
84
20
20
20
64
64
64
12/83
8/83
8/83
14
14
14
97
11
965
333
24
24
37
66
66
75
86
12/83
12/83
12/83
3/84
22
22
22
51
914
35
34
11
29
29
60
70
70
7/84
9/84
9/84
5
26
26
442
90
441
37
51
17
51
18,51
89
62
89
62,89
2/84
2/84
2/84
2/84
9
9
9
9
920
920c
951
940
9
10
39
36
11
23
60
'74'
60
66
1/84
1/84
2/83
7/84
12/83
5
5
21
101
72
112
15,35
35
32
73
73
72
6/84
6/84
6/84
32
32
32
345
280
49
45
87
82
12/83
10/84
46
46
70,83
9/84
46
12/83
46
64
30,47
346
49
340
49
87
8/84
5
341
348
349
49
50
50
87
8/84
12/83
12/83
5
53
53
53
19
63
9/84
920
920c
940
10
39
11
60
1/84
1/84
7/84
930
930c
10
39
914
915
913
917
11
11
1/84
1/84
60
60
7/84
7/84
2/83
7/84
Series title
(See complete titles in "Titles and
Sources of Series," following this index)
Profitability
Twelve leaders, index
Twelve leaders, rate of change.
Construction
Building permits, new private housing
Contracts awarded, commercial and
industrial buildings
Expenditures, plus machinery and equipment sales
Gross private domestic fixed investment
Nonresidential, percent of GNP
Nonresidential structures, constant dollars
Nonresidential, total, constant dollars
Residential, percent of GNP..
Residential, total, constant dollars
Housing starts
Consumer finished goods, producer price index.
Consumer goods and materials, new orders.
Consumer goods, industrial production
Consumer installment credit
Credit outstanding
Net change
Ratio to personal income
Consumer installment loans, delinquency rate.
Consumer prices—See also International comparisons.
All items
Food
Consumer sentiment, index
Consumption expenditures—See Personal
consumption expenditures.
Contract awards, Defense Department
Contracts and orders, plant and equipment,
constant dollars
Contracts and orders, plant and equipment,
current dollars
Corporate bond yields
Corporate profits—See Profits.
Costs—See Labor costs and Price indexes.
Credit
Borrowing, total private
Business loans
Loans outstanding, constant dollars
Loans outstanding, current dollars
Loans outstanding, net change
Consumer installment credit
Credit outstanding
Net change
Ratio to personal income
Consumer installment loans, delinquency rate
Credit outstanding, percent change
Mortgage debt, net change
Crude and intermediate materials, change in
producer prices
Crude materials, producer price index
Debt-See Credit.
Defense and space equipment, output
Defense Department
Gross obligations incurred
Gross unpaid obligations
Net outlays
Personnel, civilian
Personnel, military
Prime contract awards
Defense products
Inventories, manufacturers'
New orders, manufacturers'
Shipments, manufacturers'
Unfilled orders, manufacturers'
Defense products industries, employment
Defense purchases, goods and services, NIPA
Defense purchases, percent of GNP
Deficit—See Government.
Deflators—See Price indexes.
Delinquency rate, consumer installment loans
Deliveries, vendor performance
Diffusion indexes
Business expenditures, new plant and equipment
Capital appropriations, manufacturing
Coincident indicators
Employees, manufacturing and trade
Employees on private nonagricultural payrolls
Industrial production
Industrial production, components
Initial claims, State unemployment insurance
Inventories, manufacturing and trade
Lagging indicators
Leading indicators
New orders, durable goods industries
New orders, durable goods industries, components..
New orders, manufacturing
Profits, manufacturing
Profits, manufacturing and trade
Raw industrials, spot market prices
Raw industrials, spot market prices, components ....
Sales, manufacturing and trade
Selling prices, manufacturing
Selling prices, retail trade
Selling prices, wholesale trade
Stock prices, 500 common stocks
Workweek, manufacturing production workers
Workweek, manufacturing production workers,
components
Disposable personal income—See income.
Current issue
(Page numbers)
number Charts Tables
Serjes
916
910
910c
29
11
10
39
60
60
Historical
data
(issue date)
Series
description
(*)
7/84
1/84
1/84
13,25 67
7/84
21
17
9
69
23
24
66
67
12/83
9/84
248
87
86
249
89
28
334
47
25
25
47
25
25
48
12,21
22
83
67
67
83
67
67
86
64
65
10/84
9/84
9/84
10/84
9/84
4/84
3/84
4/84
8/84
40
40
40
40
40
24
51
15
12
66
113
95
39
35
32
15,35
33
73
72
73
72
6/84
6/84
9/84
11/83
33
33
33
34
320
322
58
49
49
22
84,95
84
65
4/84
4/84
1/84
49
49
20
525
53
90
4/83
55
20
12,23
66
6/84
21
10
116
23
34
66
73
6/84
8/83
21
35
12/83
110
32
101
72
112
15,35
35
32
73
73
72
6/84
6/84
6/84
32
32
32
66
113
95
39
111
33
35
32
15,35
33
13,32
32
73
72
73
72
72
71
6/84
6/84
9/84
11/83
6/84
5/84
33
33
33
34
31
31
331
28
48
69
85
3/84
3/84
51
50
557
54
517
543
580
578
577
525
53
53
54
55
55
53
90
90
91
91
91
90
1/84
4/83
7/83
1/84
1/84
4/83
55
55
56
56
56
55
559
548
588
561
570
564
565
54
53
54
54
55
55
55
91
90
91
91
91
91
91
6/84
6/84
6/84
6/84
7/84
9/84
9/84
17
15
17
15
5
43
43
39
32
33
12,21
72
64
11/83
5/83
34
17
970
965
951
974
963
966
38
37
36
38
36
37
8/84
12/83
2/83
5/83
7/84
8/84
23
22
5
37
5
12
962
975
952
950
964
36
38
36
36
37
5/83
5/83
2/83
2/83
6/84
37
5
5
15
971
960
972
967
"38"
37
5/83
12/83
5/83
6/83
'37'
37
37
25
973
976
978
977
968
961
38
38
38
38
37
36
76
75
74
76
74
75
78
74
76
74
74
75
77
76
75
76
75
79
76
76
76
76
75
74
5/83
5/83
5/83
5/83
6/83
7/84
'37'
37
37
37
25
5
7/82
ALPHABETICAL INDEX—SERIES FINDING GUIDE—Continued
Series title
(See complete titles in "Titles and
Sources of Series," following this index)
Earnings—See Compensation.
Employment and unemployment
Accession rate, manufacturing
Civilian labor force, total
Defense Department personnel, civilian
Defense Department personnel, military
Employee-hours in nonagricultural establishments
Rate of change
Total
Employees in mining, manufacturing,
and construction
Employees, manufacturing and trade, Dl
Employees on nonagricultural payrolls
Employees on private nonagricultural payrolls, Dl
Employment in defense products industries
Employment, ratio to population
Employment, total civilian
Help-wanted advertising in newspapers
Help-wanted advertising, ratio to unemployment
Initial claims, State unemployment insurance
Initial claims, State unemployment insurance, Dl
Layoff rate, manufacturing
Marginal employment adjustments, Cl
Overtime hours, manufacturing production workers..
Participation rate, both sexes, 16-19 years old
Participation rate, females 20 years and over
Participation rate, males 20 years and over
Part-time workers for economic reasons
Persons engaged in nonagricultural activities
Quit rate, manufacturing
Unemployed, both sexes, 16-19 years old
Unemployed, females 20 years and over
Unemployed, full-time workers
Unemployed, males 20 years and over
Unemployment, average duration
Unemployment rate, 15 weeks and over
Unemployment rate, insured, average weekly
Unemployment rate, total
Unemployment, total civilian
Workweek, manufacturing production workers
Workweek, manufacturing production workers,
components
Workweek, manufacturing production workers, Dl
Equipment—See Investment, capital.
Exports—See International transactions.
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
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.
Current issue
Series (page numbers)
number Charts Tables
2
Historical
data
(issue date)
8/81
2/84
1/84
1/84
441
578
577
51
55
55
48c
48
39
17
40
974
41
963
570
90
442
46
60
5
962
3
913
21
453
452
451
448
42
4
446
445
447
444
91
44
45
43
37
1
17
38
14,17
36
55
17
51
16
16
12,16
36
62
76
62
74
91
62
89
61
61
61
74
16
51
51
51
51
17
61
89
89
89
89
62
51
51
51
15,18
18
18
18
18,51
12,16
62
62
62
62
62,89
61
7/84
5/83
7/84
7/84
7/84
2/84
2/84
2/84
2/84
5/83
5/83
8/81
2/83
7/84
2/84
2/84
2/84
2/84
2/84
8/81
2/84
2/84
2/84
2/84
2/84
2/84
4/84
2/84
2/84
7/84
961
36
77
74
7/84
91
91
34
94
213
917
33
40
11
5
37
5
5
5
9
9
9
9
10/83
72
80
60
6/83
10/84
7/84
35
38
5
9/84
311
6/83
9/84
502
501
500
512
511
510
298
52
52
52
52
52
52
46
90
90
90
90
90
90
83
9/84
9/84
9/84
9/84
9/84
9/84
11/83
53
53
53
53
53
53
48
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
10/84
10/84
10/84
9/84
9/84
10/84
10/84
10/84
10/84
10/84
43
43
43
43
43
43
43
43
43
43
311
48
30
84
70
9/84
9/84
49
28
50
50b
50c
200
200b
200c
107
49
310
217
19,40
63,80
80
80
10/84
10/84
10/84
10/84
10/84
10/84
9/84
9/84
9/84
10/84
38
38
38
38
38
38
30
14
38
38
46
60
16
16
'39'
40
31
20
71
63
84
H
Help-wanted advertising in newspapers
Help-wanted advertising, ratio to unemployment
Hours of production workers, manufacturing
7
9
56
56
5/84
5/84
'si'
119
Series
description
(*)
61
61
2/84
2/84
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
I
Implicit price deflator, GNP
Imports—See International transactions.
Income
Compensation, average hourly, nonfarm
business sector
Compensation of employees
Compensation of employees, percent of
national income
Compensation, real average hourly, nonfarm
business sector
Consumer installment credit, ratio to personal income
Corporate profits with IVA and CCAdj
Corporate profits with IVA and CCAdj, percent
of national income
Disposable personal income, constant dollars
Disposable personal income, current dollars
Disposable personal income, per capita,
constant dollars
Earnings, average hourly, production workers,
private nonfarm economy
Earnings, real average hourly, production workers,
private nonfarm economy
Income on foreign investments in the United States
Income on U.S. investments abroad
Interest, net
Interest, net, percent of national income
National income
Personal income, constant dollars
Personal income, current dollars
Personal income, less transfer payments, constant dollars
Rate of change
Total
Personal income, ratio to money supply M2
Proprietors' income with IVA and CCAdj
Proprietors' income with IVA and CCAdj, percent
of national income
Rental income of persons with CCAdj
Rental income of persons with CCAdj, percent
of national income
Wage and benefit decisions, first year
Wage and benefit decisions, life of contract
Wages and salaries in mining, manufacturing,
and construction
Incorporations, new businesses
Industrial commodities, producer price index
Industrial production—See also International comparisons.
Business equipment
Consumer goods
Durable manufactures
Nondurable manufactures
Total
Total, components
Total, Dl
Total, rate of change
Industrials, raw, spot market prices
Components
Diffusion index
Spot market index
Installment credit-See Credit.
Insured unemployment
Average weekly initial claims
Average weekly initial claims, Dl
Average weekly insured unemployment rate
Interest, net
Interest, net, percent of national income
Interest rates
Bank rates on short-term business loans
Corporate bond yields
Federal funds rate
Mortgage yields, secondary market
Municipal bond yields
Prime rate charged by banks
Treasury bill rate
Treasury bond yields
Intermediate materials, producer price index
International comparisons
Consumer prices
Canada,
France
Italy
Japan
United Kingdom
United States.
West Germany.
Industrial production
Canada,
France
Italy
Japan
OECD, European countries
United Kingdom.
United States.
West Germany
Current issue
Series (page numbers)
number Charts Tables
16
12,16
961
36
61
61
77
74
28
29
89
249
25
13,25
25
47
67
67
67
83
310
Historical
data
(issue date)
7/84
7/84
4/84
7/84
9/84
10/84
Series
description
(*)
7/84
24
24
40
40
9/84
345
280
49
45
87
82
70,83
9/84
73
82
12/83
9/84
11/83
46
33
26
26
11
11
12/83
10/84
64
30,47
346
95
286
49
15,35
45
287
225
224
47
40
40
11/83
10/84
10/84
10/84
46
46
227
40
340
49
341
652
651
288
289
220
52
223
49
57
57
45
47
45
19
40
87
93
93
82
83
82
63
63
8/84
8/84
8/84
11/83
11/83
10/84
9/84
9/84
5
57
57
47
47
46
11
11
Sic
51
108
282
39
14,19
31
45
63
71
82
9/84
9/84
9/84
10/84
11
30
47
283
284
47
45
83
82
10/84
10/84
47
47
285
348
349
47
50
50
11/83
12/83
12/83
47
53
53
53
13
335
19
23
48
9/84
5/83
3/84
11
21
51
8/84
8/84
8/84
8/84
8/84
12
12
12
12
12
76
75
73
74
47
8/84
63
65
85
24
67
22
65
20
63
20
63
14,20,58 63,94
78
37
39
75
8/84
8/84
967
23
37
28
79
75
69
6/83
6/83
25
25
5
962
45
288
289
12,16
36
18
45
47
61
74
62
82
83
5/83
5/83
4/84
11/83
11/83
47
47
67
116
119
118
117
109
114
115
332
35
34
34
34
34
35
34
34
48
73
73
72
73
73
73
72
73
12/83
8/83
10/83
10/83
10/83
7/83
8/83
8/83
3/84
35
35
35
35
35
35
35
35
50
733
736
737
738
732
320
735
59
59
59
59
59
49
59
96
95
96
95
95
84,95
95
4/84
4/84
4/84
4/84
4/84
4/84
4/84
60
61
61
61
60
49
61
94
723
58
726
58
94
727
58
94
728
58
94
58
94
721
722
58
94
47 14,20,58 63,94
725
58
94
5/84
5/84
5/84
5/84
5/84
5/84
8/84
5/84
59
59
59
59
58
58
12
59
966
47c
See notes at end of index.
111
ALPHABETICAL INDEX—SERIES FINDING GUIDE—Continued
Series title
(See complete titles in "Titles and
Sources of Series," following this index)
Stock prices
Canada
France
Italy
Japan
United Kingdom
United States
West Germany
International transactions
Balance on goods and services
Balance on merchandise trade
Exports, merchandise, adjusted, excluding military
Exports, merchandise, total excluding military aid
Exports of domestic agricultural products
Exports of goods and services, constant dollars, NIPA ..
Exports of goods and services, current dollars, NIPA
Exports of goods and services, excluding military
Exports of nonelectrical machinery
Imports, merchandise, adjusted, excluding military
Imports, merchandise, total
Imports of automobiles and parts
Imports of goods and services, constant dollars, NIPA..
Imports of goods and services, current dollars, NIPA ....
Imports of goods and services, total
Imports of petroleum and products
Income on foreign investments in the United States
Income on U.S. investments abroad
Net exports of goods and services,
constant dollars, NIPA
Net exports of goods and services,
current dollars, NIPA
Net exports of goods and services, percent of GNP
Inventories
Business inventories, change, constant dollars, NIPA ....
Business inventories, change, current dollars, NIPA
Business inventories, change, percent of GNP
Defense products, manufacturers'
Finished goods, manufacturers'
Inventories on hand and on order, net change
Inventories to sales ratio, manufacturing and trade
Inventory investment and purchasing, Cl
Manufacturing and trade, book value
Manufacturing and trade, change in book value
Manufacturing and trade, constant dollars
Manufacturing and trade, Dl
Materials and supplies on hand and on order,
manufacturing
Materials and supplies on hand and on order,
manufacturing, change
Investment, capital
Capital appropriations, manufacturing, backlog
Capital appropriations, manufacturing, new
Capital appropriations, manufacturing, new, Dl
Capital investment commitments, Cl
Construction contracts, commercial and industrial
Construction expenditures, business, plus machinery
and equipment sales
Gross private domestic investment
Business inventories, change—See Inventories.
Fixed investment, constant dollars
Fixed investment, current dollars
Nonresidential, constant dollars
Nonresidential, percent of GNP
Producers' durable equipment, nonresidential,
constant dollars
Residential, constant dollars
Residential, percent of GNP
Structures, nonresidential, constant dollars
Total, constant dollars
Total, current dollars
New orders, capital goods, nondefense,
constant dollars
New orders, capital goods, nondefense,
current dollars
Plant and equipment
Business expenditures, new
Business expenditures, new, Dl
Contracts and orders, constant dollars
Contracts and orders, current dollars
Investment, foreign
Income on foreign investments in the United States
Income on U.S. investments abroad
Italy—See International comparisons.
Current issue
(Page numbers)
Series
number Charts Tables
Historical
data
(issue date)
Series
description
(*)
743
746
747
748
742
19
745
59
59
59
59
59
59
59
96
96
96
96
96
96
96
1/84
1/84
1/84
1/84
1/84
1/84
1/84
63
63
63
63
63
25
63
667
622
618
602
604
256
252
668
606
620
612
616
257
253
669
614
652
651
57
57
57
56
56
44
44
57
56
57
56
56
44
44
57
56
57
57
93
93
93
92
92
82
82
93
92
93
92
92
82
82
93
92
93
93
8/84
8/84
8/84
5/82
1/83
10/84
10/84
8/84
1/83
8/84
5/82
1/83
10/84
10/84
8/84
1/83
8/84
8/84
57
57
57
56
56
44
44
57
56
57
56
56
44
44
57
56
57
57
255
10/84
250
251
44
47
83
10/84
10/84
44
44
30
245
247
559
65
36
77
915
71
31
70
975
26,42
42
47
54
27
13,26
15,27
11
27
26
27
38
68,81
81
83
91
68
68
68
60
68
68
68
76
9/84
10/84
10/84
6/84
6/84
4/84
9/83
7/84
9/83
9/83
9/83
5/83
40
40
40
17
17
17
17
5
17
17
17
37
27
68
6/84
97
11
965
914
9
24
24
37
11
23
68
6/84
66
66
75
60
66
12/83
12/83
12/83
7/84
12/83
22
22
22
5
21
See notes at end of index.
112
Diffusion index
Liabilities of business failures..
Liquid assets, change in total ..
Loans—See Credit.
M
Man-hours—See Employment.
Marginal employment adjustments, Cl
Materials and supplies on hand and on order,
manufacturing
Materials and supplies on hand and on order,
manufacturing, change
Materials, new orders for consumer goods and
Materials prices—See Price indexes.
Materials, rate of capacity utilization
Merchandise trade—See International transactions.
Military-See Defense.
Money and financial flows, Cl
Money supply
Liquid assets, change in total
Money supply Ml, 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 yields, secondary market
Municipal bond yields
N
National defense—See Defense.
National Government—See Government.
National income—See Income.
New orders, manufacturers'
Capital goods industries, nondefense,
constant dollars
Capital goods industries, nondefense, current dollars..
Consumer goods and materials, constant dollars
Contracts and orders, plant and equipment,
constant dollars
Contracts and orders, plant and equipment,
current dollars
Defense products
Durable goods industries, constant dollars
Durable goods industries, current dollars
Components
Diffusion index
New orders, manufacturing, Dl
Nonresidential fixed investment, GPDI
Producers' durable equipment, constant dollars
Structures, constant dollars
Total, constant dollars
Total, percent of GNP
Series
number
950
14
104
Current issue
(Paie numbers)
Charts Tables
36
33
31
74
72
71
913
2/83
5/83
5/84
Series
description
(*)
5
34
29
2/83
78
38
Historical
data
(issue date)
6/84
26
12,21
68
64
6/84
4/84
17
15
8/83
917
11
104
105
85
106
102
107
108
33
118
117
31
31
31
13,31
31
31
31
32
34
34
71
71
71
71
71
71
71
71
73
73
5/84
5/84
5/84
5/84
5/84
9/84
9/84
5/84
10/83
10/83
29
29
29
30
29
30
30
31
35
35
27
24
23
23
12,21
66
66
64
6/84
6/84
4/84
15
15
15
7/84
6/84
20 12,23
6/84
6/84
6/84
6/84
'37'
38
66
90
64
64
77
75
76
248
25
25
25
47
67
67
67
83
9/84
9/84
9/84
10/84
40
40
40
40
517
543
721
53
53
58
90
90
94
1/84
4/83
5/84
55
55
58
580
54
557
49
54
20
91
63
7/82
9/84
13
14
62
62
358
370
83
82
84
21
30
15
50
50
20
20
20
16
70
70
64
64
64
61
11/83
11/83
12/83
12/83
12/83
8/83
8/83
7/84
28
28
52
52
14
14
14
5
453
452
451
51
51
51
89
89
2/84
2/84
2/84
9
9
9
55
233
232
238
236
239
237
231
230
235
22
41
41
41
41
41
41
41
41
47
80
81
81
81
81
9/84
10/84
10/84
10/84
10/84
10/84
10/84
10/84
10/84
10/84
39
39
39
39
39
39
39
39
39
39
292
293
614
46
46
56
82
83
92
11/83
11/83
1/83
48
48
56
61
970
20
10
90
24
38
12,23
23
17
67
76
66
66
62
8/84
8/84
6/84
6/84
2/84
23
23
21
21
9
10
548
7
6
23
53
21
21
964
971
21
15
15
15
6/84
5/83
9/84
243
242
86
248
42
42
25
47
81
81
67
83
10/84
10/84
9/84
10/84
40
40
40
40
249
87
241
240
25
25
47
25
42
42
67
67
83
67
81
81
9/84
9/84
10/84
9/84
10/84
10/84
40
40
40
40
40
40
6/84
23
6/84
61
970
20
10
24
38
12,23
23
67
76
66
66
8/84
8/84
6/84
6/84
23
23
21
21
652
651
57
57
93
93
8/84
8/84
57
57
Japan—See International comparisons.
Labor cost per unit of gross domestic product
Labor cost per unit of output, manufacturing
Actual data
Actual data as percent of trend
Labor cost per unit of output, private business sector..
Labor cost, price per unit of, nonfarm business
Labor force—See Employment.
Lagging indicators, six
Composite index
Composite index, rate of change
Diffusion index
Layoff rate, manufacturing
Leading indicators, twelve
Composite index
Composite index, rate of change
Series title
(See complete titles in "Titles and
Sources of Series," following this index)
68
30
62
62
63
26
30
15
30
29
930
930c
952
3
10
39
36
1/84
1/84
2/83
8/81
910
910c
10
39
1/84
1/84
9/84
70
70
70
70
11/83
11/83
9/83
9/83
28
28
28
28
Obligations incurred, Defense Department
Obligations unpaid, Defense Department
OECD, European countries, industrial production
Orders—See New orders and Unfilled orders.
Outlays, Defense Department
Output—See also Gross national product and
Industrial production.
Defense and space equipment, output
Goods output, constant dollars
Labor cost per unit of
Actual data
Actual data as percent of trend
Per hour, nonfarm business sector
Per hour, private business sector
Ratio to capacity, manufacturing (BEA)
Ratio to capacity, manufacturing (FRB)
Ratio to capacity, materials
Overtime hours, manufacturing production workers..
Participation rates, civilian labor force
Both sexes, 16-19 years of age
Females 20 years and over
Males 20 years and over
Personal consumption expenditures
Automobiles
Durable goods, constant dollars
Durable goods, current dollars
Nondurable goods, constant dollars
Nondurable goods, current dollars
Services, constant dollars
Services, current dollars
Total, constant dollars
Total, current dollars
Total, percent of GNP
Personal income—See Income.
Personal saving
Personal saving rate
Petroleum and products, imports
Plant and equipment—See also Investment, capital.
Business expenditures, new
Business expenditures, new, Dl
Contracts and orders, constant dollars
Contracts and orders, current dollars
Population, civilian employment as percent of
7/83
TITLES AND SOURCES OF SERIES
Series are listed below according to the sections of this report
in which they appear. Series numbers are for identification
only and do not reflect relationships or order among the
series. "M" following a series title indicates monthly data;
"Q" indicates quarterly data. Data apply to the whole period
except when indicated by "EOM" (end of month) or "EOQ"
(end of quarter).
To save space, the commonly used sources listed below are
referred to by number:
Source 1—U.S. Department of Commerce, Bureau of
Economic Analysis; Source 2—U.S. Department of Commerce,
Bureau of the Census; Source 3—U.S. Department of Labor,
Bureau of Labor Statistics; Source 4—Board of Governors of
the Federal Reserve System.
Bureau of Economic Analysis (Used by permission.
This series may not be reproduced without written
permission from the source.)
(23,66)
10. Contracts and orders for plant and equipment in current
dollars (M).—Source 2 and McGraw-Hill Information
Systems Company; seasonal adjustment by Bureau of
the Census and Bureau of Economic Analysis (23,66)
11. Newly approved capital appropriations, 1,000
manufacturing corporations (Q).—The Conference
Board
(24,66)
12. Index of net business formation (M).—Source 1;
seasonal adjustment by Bureau of Economic Analysis
and National Bureau of Economic Research,
Inc.
(12,23,65)
33. Net change in mortgage debt held by financial
institutions and life insurance companies (M).—
American Council of Life Insurance; Federal National
Mortgage Association; U.S. Department of Housing and
Urban Development, Government National Mortgage
Association; National Association of Mutual Savings
Banks; U.S. Savings and Loan League; and source 4;
seasonal adjustment by Bureau of Economic
Analysis
(32,71)
34. Net cash flow, corporate, in current dollars (Q).—
Source 1
(29,70)
35. Net cash flow, corporate, in 1972 dollars (Q).-Source
1
(29,70)
36. Net change in inventories on hand and on order in 1972
dollars (smoothed) (M).-Sources 1, 2, and 3(13,26,68)
Following the source for each series is an indication of the
pages on which that series appears. The "Series Finding
Guide" also lists chart and table page numbers for each
series.
13. Number of new business incorporations (M).—Dun &
Bradstreet, Inc.; seasonal adjustment by Bureau of
Economic Analysis and National Bureau of Economic
Research, Inc.
(23,65)
37. Number of persons unemployed, labor force survey
(M).-Sources 2 and 3
(18,51,62,89)
I-A. Composite Indexes
14. Current liabilities of business failures (M).—Dun &
Bradstreet, Inc.
(33,72)
910. Composite index of twelve leading indicators (includes
series 1, 5, 8, 12, 19, 20, 29, 32, 36, 99,106, 111)
(M).-Source 1
(10,39,60)
15. Profits (after taxes) per dollar of sales, all
manufacturing corporations (Q).—Federal Trade Commission; seasonal adjustment by Bureau of Economic Analysis
(29,70)
39. Percent of consumer installment loans delinquent 30
days and over (EOM). — A m e r i c a n B a n k e r s
Association
(33,72)
913. Composite index of marginal employment adjustments
(includes series 1, 2, 3, 5) (M).-Source 1
914. Composite index of capital investment commitments
(includes series 12, 20, 29) (M).-Source 1 (11,60)
16. Corporate profits after taxes in current dollars (Q).—
Source 1
(28,69)
915. Composite index of inventory investment and
purchasing (includes series 8, 32, 36, 99) (M).-Source
1
(11,60)
18. Corporate profits after taxes in 1972 dollars (Q).Source 1
(28,69)
38. Change in stocks of materials and supplies on hand and
on order, manufacturing (M).—Source 2
(26,68)
40. Number of employees in nonagricultural goodsproducing industries—mining, manufacturing, and
construction (M).—Source 3
(17,62)
41. Number of employees on nonagricultural payrolls,
establishment survey (M).-Source 3
(14,17,62)
42. Number of persons engaged in nonagricultural activities,
labor force survey (M).-Sources 2 and 3
(17,62)
43. Unemployment rate, total (M).-Sources 2 and 3(18,62)
19. Index of stock prices, 500 common stocks (M).—
Standard & Poor's Corporation
(13,28,59,69,96)
44. Unemployment rate, persons unemployed 15 weeks and
over (M).-Sources 2 and 3
(18,62)
917. Composite index of money and financial flows (includes
series 104, 106, 111) (M).-Source 1
(11,60)
20. Contracts and orders for plant and equipment in 1972
dollars (M).-Sources 1, 2, 3, and McGraw-Hill
Information Systems Company
(12,23,66)
45. Average weekly insured unemployment rate, State
programs (M).~U.S. Department of Labor, Employment
and Training Administration
(18,62)
920. Composite index of four roughly coincident indicators
(includes series 41, 47, 51, 57) (M).-Source
1
(10,39,60)
21. Average weekly overtime hours of production workers,
manufacturing (M).—Source 3
(16,61)
46. Index of help-wanted advertising in newspapers (M).—
The Conference Board
(16, 61)
930. Composite index of six lagging indicators (includes
series 62, 77, 91, 95, 101, 109) (M).-Source
1
(10,39,60)
22. Ratio of profits (after taxes) to total corporate domestic
income (Q).-Source 1
(29,69)
47. Index of industrial production, total (M).—Source
4
(14,20,39,58,63,78,94)
23. Index of spot market prices, raw industrial materials
(M).—Source 3 and Commodity Research Bureau, Inc.
(Used by permission. Beginning with June 1981, this
series may not be reproduced without written permission
from Commodity Research Bureau, Inc.)
(28,69,79)
48. Employee-hours in
(M).-Source 3
24. Value of manufacturer's new orders, capital goods
industries, nondefense, in current dollars (M).—Source
2
(23,66)
50. Gross national product in 1972 dollars (Q).—Source
1
(19,39,40,63,80)
916. Composite index of profitability (includes series 19, 26,
80) (M).-Source 1
(11,60)
940. Ratio, coincident composite index (series 920) to lagging composite index (series 930) (M).—Source
1
(11,60)
1-B. Cyclical Indicators
1. Average workweek of production workers,
manufacturing (M).-Source 3
(12,16,61,77)
2. Accession rate, manufacturing (M).—Source 3
3. Layoff rate, manufacturing (M).—Source 3
4. Quit rate, manufacturing (M).—Source 3
5. Average weekly initial claims for unemployment
insurance, State programs (M).-U.S. Department of
Labor, Employment and Training Administration;
seasonal adjustment by Bureau of Economic
Analysis
(12,16,61)
6. Value of manufacturers' new orders, durable goods
industries, in current dollars (M).-Source 2(21,64,77)
7. Value of manufacturers' new orders, durable goods
industries, in 1972 dollars (M).-Sources 1, 2, and
3
(21,64)
25. Change in manufacturers' unfilled orders, durable goods
industries (M).-Source 2
(21,64)
26. Ratio, implicit price deflator to unit labor cost, nonfarm
business sector (Q).-Sources 1 and 3
(29,70)
27. Value of manufacturers' new orders, capital goods
industries, nondefense, in 1972 dollars (M).—Sources
1, 2, and 3
(23,66)
28. New private housing units started, total (M).—Source
2
(25,67)
29. Index of new private housing units authorized by local
building permits (M).-Source 2
(13,25,67)
30. Gross private domestic investment, change in business
inventories, all industries, in 1972 dollars (Q).—Source
1
(26,42,68,81)
8. Value of manufacturers' new orders for consumer goods
and materials in 1972 dollars (M).-Sources 1, 2, and
3
(12,21,64)
31. Change in book value of manufacturing and trade
inventories, total (M).-Sources 1 and 2
(26,68)
9. Construction contracts awarded for commercial and
industrial buildings, floor space (M).—McGraw-Hill
Information Systems Company; seasonal adjustment by
32. Vendor performance, percent of companies receiving
slower deliveries (M).—Purchasing Management
Association of Chicago
(12,21,64)
114
nonagricultural
establishments
(17,39,61)
49. Value of goods output in 1972 dollars (Q).-Source
1
(20,63)
51. Personal income, less transfer payments, in 1972 dollars (M).-Source 1
(14,19,39,63)
52. Personal income, total, in 1972 dollars (M).-Source
1
(19,63)
53. Wage and salary income in mining, manufacturing, and
construction in 1972 dollars (M).—Sources 1 and
3
(19,63)
54. Sales of retail stores in current dollars (M).—Source
2
(22,65)
55. Personal consumption expenditures, automobiles (Q).—
Source 1
(22,65)
56. Manufacturing and trade sales in current dollars (M).—
Sources 1 and 2
(22,65)
57. Manufacturing and trade sales in 1972 dollars (M).—
Sources 1, 2, and 3
(14,22,65)
58. Index of consumer sentiment (Q,M).-University of
Michigan, Survey Research Center
(22,65)
59. Sales of retail stores in 1972 dollars (M).-Sources 1
2, and 3
(22,65)
ALPHABETICAL INDEX—SERIES FINDING GUIDE—Continued
Current issue
Series (page numbers)
number Charts Tables
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 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, manufacturing
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
Historical
data
(issue date)
Series
description
(*)
R
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
Current issue
Series . (page numbers)
number Charts Tables
Historical
data
(issue date)
Series
description
C)
S
.
.
.
'.
.
Salaries— See Compensation.
Sales
Final sales, constant dollars
Machinery and equipment sales and business
construction expenditures .
Manufacturing and trade sales, constant dollars.
Manufacturing and trade sales, current dollars.
Manufacturing and trade sales, Dl
Ratio, inventories to sales, manufacturing and trade .
Retail sales, constant dollars
Retail sales, current dollars
Saving
Business saving
Government surplus or deficit
Gross saving, private and government
Personal saving
Personal saving rate
Selling prices— See Prices, selling
Sensitive crude and intermediate materials, change
in producer prices ....
Sensitive materials prices, percent change
Shipments of defense products
Spot market prices, raw industrials
Components
Diffusion index
Spot market index
State and local government— See Government.
Stock prices— See also International comparisons.
500 common stocks
500 common stocks, Dl
Stocks of materials and supplies on hand and on order
Stocks of materials and supplies on hand and on
order change
Surplus— See Government.
320
322
49
49
84,95
84
4/84
4/84
49
49
311
310
26
48
48
29
84
84
70
9/84
9/84
9/83
49
38
28
330
333
331
334
335
332
98
48
48
48
48
48
48
28
85
86
85
86
85
86
69
3/84
3/84
3/84
3/84
3/84
3/84
3/84
50
51
50
51
51
50
51
967'
'37'
28
79
75
69
6/83
6/83
'25'
23
98
99
28
13,28
69
69
3/84
3/84
51
25
19
968
26
13,28
37
29
69
75
70
1/84
6/83
9/83
25
25
28
976
978
977
525
109
38
38
38
53
35
76
76
76
90
73
5/83
5/83
5/83
4/83
7/83
37
37
37
55
35
88
25
67
9/84
40
358
370
916
50
50
11
88
88
60
12/83
12/83
Treasury bill rate
Treasury bond yields
7/84
52
52
5
18
16
80
79
28
28
29
29
69
69
69
69
9/84
9/84
9/84
9/84
26
26
26
26
286
287
972
960
15
916
22
45
47
38
37
29
11
29
82
83
76
75
70
60
69
11/83
11/83
26
26
37
37
27
5
26
81
282
29
45
70
82
10/84
26
47
283
47
83
10/84
47
Unemployment
Duration of unemployment, average
Help-wanted advertising, ratio to unemployment
Initial claims for unemployment insurance
Initial claims for unemployment insurance, Dl
Layoff rate, manufacturing
Number unemployed, civilian labor force
Both sexes, 16-19 years of age
Females 20 years and over
Full-time workers
Males 20 years and over
Total unemployed
Quit rate, manufacturing.
Unemployment rates
15 weeks and over
Insured unemployment.
Total
Unfilled orders, manufacturers'
Defense products ...
Durable goods industries
Durable goods industries, change.
United Kingdom— See International comparisons.
25
213
40
80
10/84
38
69
57
56
973
77
59
54
24
14,22
22
38
15,27
22
22
67
65
65
76
68
65
65
9/84
9/83
9/83
5/83
9/83
5/84
5/84
17
17
17
37
17
20
20
295
298
290
292
293
46
46
46
46
46
82
83
82
82
83
11/83
11/83
11/83
11/83
11/83
26
48
48
48
48
98
99
588
28
13,28
54
69
69
91
3/84
3/84
6/84
51
25
17
967
23
'37'
79
75
69
6/83
6/83
'25'
28
19
968
78
13,28
37
27
69
75
68
1/84
6/83
6/84
25
25
17
38
26
68
6/84
17
114
115
34
34
72
73
8/83
8/83
35
35
91
60
5
962
3
15,18
16
12,16
36
62
61
61
74
2/84
2/84
5/83
5/83
8/81
9
9
8
8
7
446
445
447
444
37
4
51
51
51
51
18,51
89
89
89
89
62,89
2/84
2/84
2/84
2/84
2/84
8/81
9
9
9
9
9
44
45
43
18
18
18
62
62
62
2/84
4/84
2/84
9
8
9
561
96
25
54
21
21
91
64
64
6/84
6/84
6/84
15
15
15
107
108
32
31
31
12,21
71
71
64
9/84
9/84
5/83
30
30
17
1
12,16
'36'
61
77
74
7/84
961
5
"5"
25
T
U
.
5/83
12/83
5/83
7/84
9/84
9/84
Q
Quit rate manufacturing
Series title
(See complete titles in "Titles and
Sources of Series," following this index)
4
8/81
967
23
284
37
28
45
79
75
69
82
285
93
89
249
47
33
25
47
83
72
67
83
11/83
10/84
47
35
40
40
59
54
22
22
65
65
5/84
5/84
20
20
6/83
6/83
10/84
6/83
9/84
25
25
47
V
Velocity of money
GNP to money supply Ml, ratio
Personal income to money supply M2, ratio
Vendor performance, slower deliveries
W
Wages and salaries— See Compensation.
West Germany— See International comparisons.
Wholesale (producer) prices— See Price indexes.
Workweek of manufacturing production workers
Average workweek
Diffusion index
7/84
NOTE: CCAdj, capital consumption adjustment; Cl, composite index; Dl, diffusion index; GNP, gross national product; GPDI, gross private domestic investment; IVA, inventory valuation adjustment; NIPA, national income and product accounts.
* The number shown is the page of the Handbook of Cyclical Indicators (1984) on which the series description appears.
113
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
(16,61)
61. Business expenditures for new plant and equipment,
total (Q).-Source 1
(24,67)
62. Index of labor cost per unit of output, total
manufacturing—ratio, index of compensation of
employees in manufacturing (sum of wages, salaries,
and supplements to wages and salaries) to index of
industrial production, manufacturing (M).—Sources 1
and 4
(15,30,70)
63. Index of unit labor cost, private business sector (Q).—
Source 3
(30,70)
64. Compensation of employees as a percent of national
income (Q).-Source 1
(30,47,70,83)
65. Manufacturers' inventories of finished goods, book
value, ail manufacturing industries (EOM).—Source
2
(27,68)
66. Consumer installment credit (EOM) -Source 4
(35,73)
67. Bank rates on short-term business loans (Q).—Source
4
(35,73)
68. Labor cost (current dollars) per unit of gross domestic
product (1972 dollars), nonfinancial corporations—ratio
of current-dollar compensation of employees to real
gross corporate product (Q).—Source 1
(30,70)
69. Manufacturers' machinery and equipment sales and
business construction expenditures (industrial and commercial construction put in place) (M).—Source
2
(24,67)
70. Manufacturing and trade inventories in 1972 dollars
(EOM).-Sources 1, 2, and 3
(27,68)
71. Manufacturing and trade inventories, total book value
(EOM).-Sources 1 and 2
(27,68)
72. Commercial and industrial loans outstanding in current
dollars (M).-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 (M).—
Sources 1, 2, and 3
(15,27,68)
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)
91. Average (mean) duration of unemployment in weeks
(M).-Sources 2 and 3
(15,18,62)
960. Diffusion index of net profits, manufacturing—about
600 companies (Q).-Dun & Bradstreet, Inc. (Used by
permission. This series may not be reproduced without
written permission from the source.)
(35,75)
93. Free reserves (member banks excess reserves minus
borrowings) (M).-Source 4
(33,72)
961. Diffusion index of average workweek of production
workers, manufacturing—20 industries (M).—Sources 1
and 3
(36,74,77)
94. Member bank borrowings from the Federal Reserve
(M).-Source 4
(33,72)
95. Ratio, consumer installment credit to personal income
(M).-Sources 1 and 4
(15,35,73)
96. Manufacturers' unfilled orders, durable goods industries
(EOM).-Source 2
(21,64)
97. Backlog of capital appropriations, 1,000 manufacturing
corporations (EOQ).-The Conference Board (24,66)
98. Change in producer prices for 28 sensitive crude and
intermediate materials (M).—Sources 1 and 3 (28,69)
(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)
962. Diffusion index of initial claims for unemployment
insurance, State programs—51 areas (M).—Source 1
and U.S. Department of Labor, Employment and Training
Administration; seasonal adjustment by Bureau of
Economic Analysis
(36,74)
963. Diffusion index of number of employees on private
nonagricultural payrolls—172-186 industries (M).—
Source 3
(36,74)
964. Diffusion index of value of manufacturers' new orders,
durable goods industries— 34-35 industries (M).—
Sources 1 and 2
(37,75,77)
(13,28,69)
965. Diffusion index of newly approved capital
appropriations, deflated—17 manufacturing industries
(Q).-The Conference Board
(37,75)
101. Commercial and industrial loans outstanding in 1972
dollars (M).-Sources 1, 3, and 4
(15,35,73)
966. Diffusion index of industrial production—24 industries
(M).-Sources 1 and 4
(37,75,78)
102. Change in money supply M2 (M).-Source 4 (31,71)
967. Diffusion index of spot market prices, raw industrials—
13 industrial materials (M).—Sources 1, 3, and
Commodity Research Bureau, Inc.
(3575,79)
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)
112. Net change in business loans (M).—Sources 1 and 4
(Q).-Source 1
951. Diffusion index of four roughly coincident indicator
components (M).—Source 1
(36,74)
90. Ratio, civilian employment to total population of
working age (M).-Sources 1, 2, and 3
(17, 62)
79. Corporate profits after taxes with inventory valuation
and capital consumption adjustments in current dollars
80. Corporate profits after taxes with inventory valuation
and capital consumption adjustments in 1972 dollars
1-C. Diffusion Indexes
950. Diffusion index of twelve leading indicator components
(M).-Source 1
(36,74)
952. Diffusion index of six lagging indicator components
(M).-Source 1
(36,74)
111. Change in credit outstanding (business and consumer
borrowing) (M).—Sources 1, 4, and Federal Home
Loan Bank Board
(13,32,72)
(29,69)
(34,72)
89. Gross private domestic fixed investment, total
residential, in 1972 dollars (Q).-Source 1 (25,67)
78. Stocks of materials and supplies on hand and on order,
manufacturing (EOM).-Source 2
(27,68)
(Q).-Source 1
119. Federal funds rate (M).-Source 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. Diffusion index of stock prices, 500 common stocks—
46-82 industries (M).—Standard & Poor's Corporation
(37,75)
970. Diffusion index of business expenditures for new plant
and equipment, total—21 industries (Q).—Source
1
(38,76)
971. Diffusion index of new orders, manufacturing—about
600 businessmen reporting (Q).—Dun & Bradstreet, Inc.
(Used by permission. This series may not be reproduced
without written permission from the source.) (38,76)
972. Diffusion index of net profits, manufacturing and
trade—about 1,400 businessmen reporting (Q).—Dun &
Bradstreet, Inc. (Used by permission. This series may
not be reproduced without written permission from the
source.)
(38,76)
973. Diffusion index of net sales, manufacturing and tradeabout 1,400 businessmen reporting (Q).—Dun &
Bradstreet, Inc. (Used by permission. This series may
not be reproduced without written permission from the
source.)
(38,76)
974. Diffusion index of number of employees, manufacturing
and trade—about 1,400 businessmen reporting (Q).—
Dun & Bradstreet, Inc. (Used by permission. This series
may not be reproduced without written permission from
the source.)
(38,76)
975. Diffusion index of level of inventories, manufacturing
and trade—about 1,400 businessmen reporting (Q).—
Dun & Bradstreet, Inc. (Used by permission. This series
may not be reproduced without written permission from
the source.)
(38,76)
976. Diffusion index of selling prices, manufacturing—about
600 businessmen reporting (Q).—Dun & Bradstreet, Inc.
(Used by permission. This series may not be reproduced
without written permission from the source.) (38,76)
115
TITLES AND SOURCES OF SERIES- Continued
977. Diffusion index of selling prices, wholesale trade—about
400 businessmen reporting (Q).—Dun & Bradstreet, Inc.
(Used by permission. This series may not be reproduced
without written permission from the source.) (38,76)
978. Diffusion index of selling prices, retail trade—about 400
businessmen reporting (Q).—Dun & Bradstreet, Inc.
(Used by permission. This series may not be reproduced
without written permission from the source.) (38,76)
II-A. National Income and Product
30. Gross private domestic investment, change in business
inventories, all industries, in 1972 dollars (Q).—Source
1
(26, 42, 68, 81)
50. Gross national product in 1972 dollars (Q).-Source
1
(19,39,40,63,80)
64. Compensation of employees as a percent of national
income (Q).-Source 1
(30,47,70,83)
200. Gross national product in current dollars (Q).—Source
1
(40,80)
213. Final sales (series 50 minus series 30) in 1972 dollars
(Q).-Source 1
(40,80)
217. Per capita gross national product in 1972 dollars (Q).—
Sources 1 and 2
(40,80)
220. National income in current
1
dollars (Q).—Source
(45,82)
223. Personal income in current dollars (M).—Source
1
(40,63)
224. Disposable personal income in current dollars (Q).—
Source 1
(40,80)
225. Disposable personal income in 1972 dollars (Q).—
Source 1
(40,80)
227. Per capita disposable personal income in 1972 dollars
(Q).-Sources 1 and 2
(40,80)
230. Personal consumption expenditures, total, in current
dollars (Q).-Source 1
(41,80)
231. Personal consumption expenditures, total, in 1972 dollars (Q).-Source 1
(41,80)
232. Personal consumption expenditures, durable goods, in
current dollars (Q).-Source 1
(41,80)
233. Personal consumption expenditures, durable goods, in
1972 dollars (Q).-Source 1
(41,80)
235. Personal consumption expenditures, total, as a percent
of gross national product (Q).—Source 1
(47,83)
236. Personal consumption expenditures, nondurable goods,
in current dollars (Q).-Source 1
(41,81)
247. Gross private domestic investment, change in business
inventories, all industries, as a percent of gross national
product (Q).-Source 1
(47,83)
292. Personal saving (Q).-Source 1
248. Gross private domestic fixed investment, nonresidential,
as a percent of gross national product (Q).—Source
1
(47,83)
295. Business saving—undistributed corporate profits plus
capital consumption allowances with inventory valuation
and capital consumption adjustments (Q).—Source
1
(46,82)
249. Gross private domestic fixed investment, residential, as
a percent of gross national product (Q).—Source
1
(47,83)
250. Net exports of goods and services in current dollars;
national income and product accounts (Q).—Source
1
(44,82)
251. Net exports of goods and services as a percent of gross
national product (Q).—Source 1
(47,83)
252. Exports of goods and services in current dollars;
national income and product accounts (Q).—Source
1
(44,82)
253. Imports of goods and services in current dollars;
national income and product accounts (Q).—Source
1
(44,82)
255. Net exports of goods and services in 1972 dollars;
national income and product accounts (Q).—Source
1
(44,82)
256. Exports of goods and services in 1972 dollars; national
income and product accounts (Q).—Source 1 (44,82)
257. Imports of goods and services in 1972 dollars; national
income and product accounts (Q).—Source 1 (44,82)
260. Government purchases of goods and services, total, in
current dollars (Q).-Source 1
(43,81)
261. Government purchases of goods and services, total, in
1972 dollars (Q).-Source 1
(43,81)
262. Federal Government purchases of goods and services in
current dollars (Q).-Source 1
(43,81)
263. Federal Government purchases of goods and services in
1972 dollars (Q).-Source 1
(43,81)
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)
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)
245. Gross private domestic investment, change in business
inventories, all industries, in current dollars (Q).—
Source 1
(42,81)
116
311. Fixed-weighted price index, gross business product
(Q).-Source 1
(48,84)
320. Index of consumer prices, all items (M).—Source
3
(49,59,84,95)
322. Index of consumer prices, food (M).-Source 3(49,84)
330. Index of producer prices, all commodities (M).—Source
3
(48,85)
331. Index of producer prices, crude materials for further
processing (M).-Source 3
(48,85)
332. Index of producer prices, intermediate materials, supplies, and components (M).-Source 3
(48,86)
333. Index of producer prices, capital equipment (M).—
Source 3
(48,86)
334. Index of producer prices, finished consumer goods
(M).-Source 3
(48,86)
335. Index of producer prices, industrial commodities (M).Source 3
(48,85)
340. Index of average hourly earnings of production workers,
private nonfarm economy—adjusted for overtime (in
manufacturing only), interindustry employment shifts,
and seasonality (M).-Source 3
(49,87)
341. Index of real average hourly earnings of production
workers, private nonfarm economy—adjusted for
overtime (in manufacturing only), interindustry
employment shifts, and seasonality (M).—Source
3
(49,87)
345. Index of average hourly compensation, all employees,
nonfarm business sector (Q).—Source 3
(49,87)
348. Negotiated wage and benefit decisions, all industriesaverage (mean) first year changes (Q).—Source
3
(50,88)
(45,82)
282. Proprietors' income with inventory valuation and capital
consumption adjustments (Q).—Source 1
(45,82)
284. Rental income of persons with capital consumption
adjustment (Q).-Source 1
(45,82)
243. Gross private domestic fixed investment, total, in 1972
dollars (Q).-Source 1
(42,81)
310. Implicit price deflator, gross national product (Q).—
Source 1
(48,84)
280. Compensation of employees (Q).-Source 1
238. Personal consumption expenditures, nondurable goods,
in 1972 dollars (Q).-Source 1
(41,81)
242. Gross private domestic fixed investment, total, in
current dollars (Q).-Source 1
(42,81)
II-B. Prices, Wages, and Productivity
346. Index of real average hourly compensation, all
employees, nonfarm business sector (Q).—Source
3
(49,88)
237. Personal consumption expenditures, services, in current
dollars (Q).-Source 1
(41,81)
241. Gross private domestic investment, total, in 1972 dollars (Q).-Source 1
(42,81)
298. Government surplus or deficit, total (Q).-Source
1
(46,83)
268. State and local government purchases of goods and
services as a percent of gross national product (Q).—
Source 1
(47,83)
283. Proprietors' income with inventory valuation and capital
consumption adjustments as a percent of national
income (Q).-Source 1
(47,83)
240. Gross private domestic investment, total, in current dollars (Q).-Source 1
(42,81)
(46,82)
293. Personal saving rate—personal saving as a percent of
disposable personal income (Q).—Source 1 (46,83)
286. Corporate profits with inventory valuation and capital
consumption adjustments (Q).-Source 1
(47,82)
287. Corporate profits with inventory valuation and capital
consumption adjustments as a percent of national
income (Q).-Source 1
(47,83)
349. Negotiated wage and benefit decisions, all industriesaverage (mean) changes over life of contract (Q).—
Source 3
(50,88)
358. Index of output per hour, all persons, nonfarm business
sector (Q).-Source 3
(49,88)
370. Index of output per hour, all persons, private business
sector (Q).-Source 3
(49,88)
II-C. Labor Force, Employment, and
Unemployment
37. Number of persons unemployed, labor force survey
(M).-Sources 2 and 3
(18,51,62,89)
(45,82)
441. Total civilian labor force, labor force survey (M).—
Sources 2 and 3
(51,89)
289. Net interest as a percent of national income (Q).—
Source 1
(47,83)
442. Total civilian employment, labor force survey (M).—
Sources 2 and 3
(51,89)
290. Gross saving—private saving plus government surplus or
deficit (Q).-Source 1
(46,82)
444. Number unemployed, males 20 years and over, labor
force survey (M).-Sources 2 and 3
(51,89)
288. Net interest (Q).-Source 1
r U. S. GOVERNMENT PRINTING OFFICE : 1984 461-082/307
TITLES AND SOURCES OF SERIES- Continued
445. Number unemployed, females 20 years and over, labor
force survey (M).-Sources 2 and 3
(51,89)
565. National defense purchases as a percent
national product (Q).-Source 1
of gross
(55,91)
47. United States, index of industrial production, total
(M).-Source 4
(14,20,39,58,63,78,94)
446. Number unemployed, both sexes 16-19 years of age,
labor force survey (M).-Sources 2 and 3
(51,89)
570. Employment in defense products industries (M).—
Source 3; seasonal adjustment by Bureau of Economic
Analysis
(55,91)
320. United States, index of consumer prices, all items
(M).-Source 3
(48,59,84,95)
447. Number unemployed, full-time workers, labor force
survey (M).-Sources 2 and 3
(51,89)
448. Number employed, part-time workers for economic
reasons, labor force survey (M).—Sources 2 and
3
(51,89)
451. Civilian labor force participation rate, males 20 years
and over (M).-Sources 2 and 3
(51,89)
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)
452. Civilian labor force participation rate, females 20 years
and over (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
453. Civilian labor force participation rate, both sexes 16-19
years of age (M).-Sources 2 and 3
(51,89)
Financial Control; seasonal adjustment by Bureau of
Economic Analysis
(54,91)
II-D. Government Activities
588. Value of manufacturers' shipments, defense products
(M).-Source 2
(54,91)
500. Federal Government surplus or deficit; national income
and product accounts (Q).—Source 1
(52,90)
II-E. U.S. International Transactions
501. Federal Government receipts; national income and product accounts (Q).-Source 1
(52,90)
602. Exports, excluding military aid shipments, total (M).—
Source 2
(56,92)
502. Federal Government expenditures; national income and
product accounts (Q).-Source 1
(52,90)
604. Exports of domestic agricultural products (M).—Source 2;
seasonal adjustment by Bureau of E c o n o m i c
Analysis
(56,92)
510. State and local government surplus or deficit; national
income and product accounts (Q).-Source 1 (52,90)
511. State and local government receipts; national income
and product accounts (Q).-Source 1
(52,90)
512. State and local government expenditures; national
income and product accounts (Q).—Source 1 (52,90)
517. Defense Department gross obligations incurred (M).~
U.S. Department of Defense, OSD, Comptroller,
Directorate for Program and Financial Control; seasonal
adjustment by Bureau of Economic Analysis (53,90)
525. Defense Department military prime contract awards for
work performed in the United States (M).-U.S.
Department of Defense, OSD, Comptroller, Washington
Headquarters Services; seasonal adjustment by Bureau
of Economic Analysis
(53,90)
543. Defense Department gross unpaid obligations
outstanding (EOM).-U.S. Department of Defense, OSD,
Comptroller, Directorate for Program and Financial
Control; seasonal adjustment by Bureau of Economic
Analysis
(53,90)
721. Organization for Economic Cooperation and
Development, European countries, index of industrial
production (M).—Organization for Economic Cooperation and Development (Paris)
(58,94)
722. United Kingdom, index of industrial production (M).—
Central Statistical Office (London)
(58,94)
723. Canada, index of industrial production (M).—Statistics
Canada (Ottawa)
(58,94)
725. West Germany, index of industrial production (M).—
Statistisches Bundesamt (Wiesbaden)
(58,94)
726. France, index of industrial production (M).—Institut
National de la Statistique et des Etudes Economiques
(Paris)
(58,94)
727. Italy, index of industrial production (M).—Istituto
Centrale di Statistics (Rome)
(58,94)
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 a d j u s t m e n t by 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,
(Q).-Source 1
adjusted,
excluding
military
(57,93)
622. Balance on merchandise trade (Q).-Source 1 (57,93)
651. Income on
1
U.S. investments abroad
(Q).—Source
(57,93)
652. Income on foreign investments in the United States
(Q).-Source 1
(57,93)
(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)
742. United Kingdom, index of stock prices (M).-Central
Statistical Office (London)
(59,96)
667. Balance on goods and services (Q).—Source 1(57,93)
743. Canada, index of stock prices (M).—Statistics Canada
(Ottawa)
(59,96)
(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
Bundesamt (Wiesbaden)
(59,96)
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)
II-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)
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)
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