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U.S. DEPARTMENT OF COMMERCE
C. William Verity, Secretary
Robert Ortner, Under Secretary for Economic Affairs

BUREAU OF ECONOMIC ANALYSIS
Allan H. Young, Director
Carol S. Carson, Deputy Director
Edward K. Smith, Associate Director for
National Analysis and Projections
Feliks Tamm, Editor

This report is prepared in the Statistical Indicators Division of the Bureau of Economic
Analysis. Technical staff and their responsibilities for the publication a r e Barry A. Beckman—Technical supervision and review
Brian D, Kajutti—Composite indexes
Mary D. Young—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
John H. Auten, U.S. Department of the Treasury
Andrea Kusko, Board of Governors of the Federal Reserve System
Edward K, Smith, Bureau of Economic Analysis, U.S. Department of Commerce
Peter M. Taylor, Council of Economic Advisers
Charles A. Waite, Bureau of the Census, U.S. Department of Commerce

BUSINESS CONDITIONS DiGEST (BCD) provides
a monthty 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 cyciica) 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 cycfe 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 in this report
also are published by their source agencies, A
series finding guide and a complete list of series
titles and sources can be found at the back of the
report.
Cyclical indicators are economic time series
which have been singled out as leaders, coinciders, or laggers based on their general conformity to cyclical movements in aggregate
economic activity, in this report, cyclical indicators are classified both by economic process
and by their average timing at business cycle
peaks, at business cycle troughs, and at peaks
and troughs combined. These indicators have
been selected primarily on the basis of their
cyclical behavior, but they also have proven
usefuf 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

in

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

1
1
1
1
4
5
5
6

OCTOBER 1 9 8 7
Data Through September
Volume 27. Number 10

Table
Composite Indexes
Leading Index Components
Coincident Index Components
Lagging index Components

[cf

60

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

]
j
j

10
12
14
15

16
19
21
23
26
28
31

61
63
64
65
68
69
71

Diffusion Indexes
Selected Diffusion Index Components
Rates of Change . . -

36
—
39

74
77




,




GNPand Persona) 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

40
41
42
43
44
45
46
47

80
80
81
81
82
82
82
83

Price Movements
Wages and Productivity

48
49

84
87

Civilian Labor Force and Major Components

51

89

Receipts and Expenditures
Defense Indicators

52
53

90
90

Merchandise Trade
Goods and Services Movements

56
57

92
93

Industrial Production
Consumer Prices

58
59

94
95

Stock Prices

59

96

A- MCD and Related Measures of Variability (See 1984 Handbook of Cyclical Indicators}
QCDand Related Measures of Variability (See 1984 Handbook of Cyclical Indicators)
B. Current Adjustment Factors (August 1987 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 1987 issue)
F. Specific Peak and Trough Dates for Selected indicators (April 1987 issue!
G. Experimental Data and Analyses
Alphabetical Index—Series Finding Guide
Titles and Sources of Series
,
,

106
110
114

Readers are invited to submit comments and
suggestions concerning this publication.
Address them to Business Conditions Digest,
Statistical Indicators Division, Bureau of
Economic Analysis, U.S. Department of Commerce,
Washington, DC 20230

NEW FEATURES
AND CHANGFS
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

Changes in this issue are as follows:

source agencies in

1. The composite index of lagging indicators (series
930) has been recalculated back to January 1982 to incorporate a reestimation of the trend used in one of its components: labor cost per unit of output in manufacturing as a
percent of trend (series 62). For this component, the previously estimated trend did not reflect the behavior of the
unit labor cost series in recent years; the trend has been
reestimated to reflect more adequately the recent behavior
of this series. (The recalculation of the lagging index
used the latest available data for all components.) If the
previously estimated trend had been used, the lagging index
would have increased 0.9 percent in September and decreased
0.2 percent in August and 0.5 percent in July. Revised historical data for series 62 are shown on page 97 and for the
lagging index, on page 101.
The ratio of the coincident composite index to the lagging composite index (series 940) and the diffusion index of
six lagging indicator components (series 952) also have been
recalculated back to 1982 to reflect the above changes.
Further information concerning these revisions may be
obtained from the U.S. Department of Commerce, Bureau of
Economic Analysis, Statistical Indicators Division.
2. The indexes of industrial production (series 47,
73-76, 557, and 966) have been revised by the source agency
for the period 1985 to date to incorporate data previously
not available and new seasonal adjustment factors.
Further information concerning these revisions may be
obtained from the Board of Governors of the Federal Reserve
System, Division of Research and Statistics, Industrial Output Section.
(Continued on page iv.
The November issue of BUSINESS CONDITIONS DIGEST is scheduled
for release on December 7.



m

concept, composition.
comparability, coverage,
seasonal adjustment
methods, benchmark
data, etc. Changes may
result in revisions of
data, additions or
deletions ot series.
changes in placement oi
series in relation to
other senes. changes
in composition of
indexes, etc.

3. The index of labor cost per unit of output in manufacturing (series 62)
has been revised for the period 1985 to date to incorporate revisions in the index
of industrial production for manufacturing. (See item 2, page iii.) In addition,
the version of series 62 expressed as a percent of trend has been revised for the
period 1982 to date to reflect the reestimation of the trend. (See item 1, page
iii.)
Further information concerning this revision may be obtained from the U.S.
Department of Commerce, Bureau of Economic Analysis, Statistical Indicators Division.
4. The capacity utilization rates (series 82 and 84) have been revised by
the source agency to incorporate revisions in the industrial production indexes
(see item 2, page iii) for the period 1985 to date and revisions in the capacity
indexes for the period 1981 to date.
Further information concerning these revisions may be obtained from the Board
of Governors of the Federal Reserve System, Division of Research and Statistics,
industrial Output Section.
5. Appendix C contains historical data for series 26, 62, 63, 110, 200, 213,
217, 220, 224, 225, 227, 345, 346, 358, 370, 543, 564, 565, 580, 602, 604, 606,
612, 614, 616, 930, and 963.
6.




Appendix G contains cyclical comparisons for series 43, 50, 82, and 86.

BCD DATA ON DISKETTE
Data for most BCD series are available on diskette. Current data, covering
last 5 calendar years, are available on a subscription basis—one diskette
month for 12 months ($240). Historical data, covering 1945 to date,
available on a set of five diskettes ($100). For more information, write to
Statistical Indicators Division, Bureau of Economic Analysis, U.S. Department
Commerce, Washington, DC 20230.

the
per
are
the
of

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 U 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 reiate 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 1962, but those for the composite
indexes and their components (part I, section h)
begin with 1950, and a few charts use a two-panel
format which covers only the period since 1975.
Except for section F in part II, charts contain
shading which indicates periods of recession m
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
af 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 ranee 1 to 199.

Seasonal Adjustments
Adjustments for average seasonal fluctuations
are often necessary to ering 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.
MCO Moving Averages
Month-to-month changes in a series are often
dominated by erratic movements. MCO (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 N1CD will be; thus, W1CD is 1
for the smoothest series and 6 for the most erratic.
MOD moving averages (that is, moving averages of
the period equal to UCD) tend to have about the
same degree of smoothness for all series. Thus, a
5-term moving average of a series with an MCD of 5
will show its cyclical movements about as clearly
as the seasonally adjusted data for a series with an
MCD of 1,
The charts in this report generally include
centered MCD moving averages for those series
with an MCD greater than 4, The seasonally
adjusted data are also plotted to indicate their
variation about the moving averages and to provide
observations for the most recent months.
Reference Turning Dates
The historical business cycle turning dates used
in this report are those designated by the National
Bureau of Economic Research, Inc. (NBER). They
mark the approximate dates when, according to
NBER, aggregate economic activity reached its
cyclical high or low levels. As a matter of general
practice, neither new reference turning dates nor
the shading for recessions will be entered on the
charts until after both the new reference peak and
the new reference trough bounding the shaded area
have been designated.
The historical reference turning dates are subject
to occasional reviews by NBER and may be changed
as a result of revisions in important economic
time series. The dates shown in this publication
for the 1948-70 time period are.those determined
by a 1974 review. Since then, NBER has designated
turning points for recessions in 1973-75, 1980, and
1981-82.

Part I. CYCLICAL INDICATORS
Business cycles have been defined as sequences
of expansion and contraction in various economic
processes that show up as major fluctuations in aggregate economic activity—that is, in comprehensive measures of production, employment,
income, and trade. While recurrent and pervasive,
business cycles of historical experience have been
definitely nonperiodic anil have varied greatly in
duration and intensity, reflecting changes in
economic systems, conditions, policies, and
outside disturbances.
One of the techniques developed in business
cycle research and widely used as a tool for analyzing current economic conditions and prospects is
the cyclical indicators approach. This approach
identifies certain economic time series as tending
to lead, coincide with or lag behind the broad
movements in aggregate economic activity. Such
indicators have been selected and analyzed by
NBER in a series of studies published between
1938 and 1967. During the 1972-75 period, a new
comprehensive review of cyclical indicators was
carried out by the Bureau of Economic Analysis
(BEA) with the cooperation of the NBER research
staff. The present format and content of part I of
BCD are based on the results of that study.
Section A. Composite Indexes and
Their Components
All cyclical indicators have been evaluated according to six major characteristics: Economic
significance, statistical adequacy, consistency of
timing at business cycle peaks and troughs,
conformity to business expansions and
contractions, smoothness, and prompt availability
(currency). A formal, detailed weighting scheme
was developed and used to assess each series by all
of the above criteria. (See articles in the May and
November 1975 issues of BCD)
The resulting
scores relate to cyclical behavior of the series
during the period 1947-70. This analysis produced
a new list of indicators classified by economic
process and typical timing at business cycle peaks
and troughs, (See tables on page 2 and text below
relating to section B.)
This information, particularly the scores relating
to consistency of timing, served as a basis for the
selection of series to be included in the composite
indexes. The indexes incorporate the best-scoring
series from many different economic-process
groups and combine those with similar timing
behavior, using their overall performance scores as
weights. Because they use series of historically
tested usefulness and given timing characteristics
(for example, leading at both peaks and troughs),
with diversified economic coverage and a minimum
of duplication, composite indexes give more
reliable signals over time than do any of the
individual indicators. Furthermore, much of the

1

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

Economic
Process

Cyclical N .
Timing
\ .

LEADING (L)
INDICATORS
(61 series)

ROUGHLY
COINCIDENT (C)
INDICATORS
(24 series)

EMPLOYMENT AND
UNEMPLOYMENT
(15 series)

PRODUCTION
AND INCOME
(10 series)

Marginal wip \oymnt
adjustments
(3 series)
Job m&ieiBs
•(2 series)
Somsreriensive
emgtejmmt
(1 series)
Comprehensive
unemploymeat
(3 series)

Gapac% utilisation
(2 series)

Comprehensive,
efflptaytwnt
• 0 series)
. -

Gemprrtiensiw
Mgwt and income
14-series)
lEitetfial
production
• (4 series)

LAGGING (Lg)
INDICATORS
(19 series)

€m$&hen$tve
uneffijstopeBt
(ls#cmy

TIMING
UNCLASSIFIED (U)
(8 series)

ComOfefteRsive'
employment
(3 series)

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

IV.
FIXED CAPITAL
INVESTMENT
(19 series)

V.
INVENTORIES
AND [NVENTOfiY
INVESTMENT
(9 series)

Orders asrt deliveries
$ series)
SsRsaistptteii iflii
trade (t series)

Fermatton of business
e'Rter|irise$
(2 series)
Business insestmerit
eflnhsibmnts
(5 series)' .
fosifeiiiai
constriction
(3 series) •

teetrtery
iijvfestmeirt
(4 series)
Imfeifeiesm

Censumptiot gntf
trade-(4 series)

- •

(\ series) - •.

Censumpfieii s«wj tratii ( I series)

Money {§ series)
feeditilsm '{§ series)
grrtiittifflculBes
(1 series)
fertls resgf »es
^fZserte)
••
Interest rates
( I series)- /

Stack g r i m
f l series)
Sensitive c o m m o n
.'.fjfte' (2 series) "
Profits -MHtjS^it
ii&fgjtis (7 series)
€astift)ws (2 series)

Velocttjofmeney

Business tastnseirt
commitments
{I series)
.Bmkms'meslmmt
©#itiitym . •

§a$mm investment

••

orsfer •
(1 series)

VII.
MONEY AND
CREDiT
(28 series)

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

-

Merest fates (2,series)

. iiwenteies w
hand and ofi
wcter
• •
£4 series) '

Busiiffiss tee^ment .
Gammitwerts •
' (!series)

Unit (after costs
and tabor share •
(4 series) • , .

Interest rates
• (4 sems)
•
(4 series) ' •

pri^s ( 1 ssates).Profitsanrt profit
margins (1 series)

Interest rates
• ( I series)
•

B. Timing at Business Cycle Troughs
\ ^

Economic
Process

VII.
MONEY AND
CREDIT
(28 series)

Cyclical ^ v
Timing
N.

I,
EMPLOYMENT AND
UNEMPLOYMENT
(15 series)

II.
PRODUCTION
AND INCOME
(10 series)

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

IV.
FIXED CAPITAL
INVESTMENT
(19 series)

V.
INVENTORIES
AND INVENTORY
INVESTMENT
(9 series)

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

Martina! emffeymeitt
adjustments
( 1 series) .

\ .

Industrial
SrWucftoii
(iSeries)

Qrtfers mi deliveries
(5 series)
CensiifBpto m\4
trade (4 series)

f ormatiBts at Sasisess
enterprises
(2 series) Susiness inmtment
HiBimittients
(4 series)
Sesidential
censtFOEtiOR
{3 series)

'Inventory

• ]8ten«s-<4 series)
Stock pees
- .
.Credit flaws
(1 series) ;
-(§ series)
Sensitive eofliflwafty .
•CrMtdifiieuttigs
SrtceVCf «rte?}''
( 2 series);
Profits ws4 (irerfit - margins <8 ser^s)
Casfilews (2 series)

Eonsampfiort and
trade (3 mies)

Business inmtiRsrit
conKnitments
(I series)

Orders and deliveries
(1 series)

Bo^ness irtsestment
commitHignfe
(2 series)
Bysmess ifivestmeat
e*pendityres
(7 series)

LEADING (L)
INDICATORS
(47 series)

Marginal SMplsjtnent
ROUGHLY
COINCIDENT (C)
INDICATORS
(23 series)

(2 series)
CQmjsretreissira
em^oymest
(4 series)

LAGGING (Lg)
INDICATORS
(41 series)

Jot) vacancies
{2 series)
CemBreheBsise
employment
(1 sefies)
Comprehensiss
ufieasiflojfflent
(5 series)

TIMING
UNCLASSIFIED <U)
(1 series)




• Comprehensive
output and insome
£4 series)
Industrial
production
(3 series)
Capacity utliratisn
(2 series)

(4 wtes)

Profits artd praftt
imargfiss (2 ser»s)

Inventories OR
ftasrt and on
order
(5 series)

Men^ (I mies)Vefcwsity s-imiinfej
(! series)

( M labor costs
and labor snare
(4 series)

Vetotitjr of money
Ci series)
Bank reserves
( I series)
Interest rates
{g series)
QgtstandmgdeM
(4 series)

Bank reserves
(1 series)

-

independent measurement error and other "noise"
in the included series are smoothed out in the
index as a whole. The indexes include only monthly
series that are acceptable in terms of relatively
prompt avaiiability and reasonable accuracy.
The main composite indexes are distinguished by
their cyclical timing. Thus, there is an index of
leading indicators, series which historically reached
their cyclical peaks and troughs earlier than the
corresponding business cycle turns. There is an
index of roughly coincident indicators, consisting
of series which historically reached their turning
points at about the same time as the general
economy, and an index of lagging indicators, which
includes series that typically reached their peaks
and troughs later than the corresponding business
cycle turns.
The leading index contains series with long as
well as short leads, but each series leads on the
average over time and shows a frequency of leads
at the individual turns exceeding that attributable
to chance, given the historical distribution of
cyclical timing, (An analogous statement applies to
the components of the lagging index.) Since 1948,
leads were generally more frequent and longer at
peaks than at troughs of business cycles, while lags
were generally more frequent and longer at troughs
than at peaks. The adopted system of scoring and
classifying the indicators takes into account these
well-established differences in timing.
Consequently, rough coincidences include short
leads (-) and lags ( + ) as well as exact
coincidences (0). (For monthly series, the range is
from -3 through + 1 at peaks and from -1 through
+3 at troughs, where minus denotes leads and
plus denotes lags in months.)
For purposes of constructing a composite index,
each component series is standardized: The monthto-month percent changes in a given series are
divided by the long-run average (without regard to
sign) of those changes. Thus, the more volatile
series are prevented from dominating the index.
The coincident index is calculated so that its longterm trend (since 1948) equals the average of the
trends of its four components. This trend, which is
similar to that of GNP in constant dollars, can be
viewed as a linear approximation to the secular
movement (at an average growth rate) in aggregate
economic activity. The indexes of leading and lagging indicators have been adjusted so that both
their trends and their average month-to-montri
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.)
tn addition to these principal composite indexes,
differentiated according to cyclical timing, there
are other indexes based on leading indicators that
have been grouped by economic process. Taken
together, these additional indexes include many
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 inde^, 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 peaks and troughs,
all but one component of the leading index are
denoted "L,L,L," all components of the coincident
index "C,C,C," and ail components of the lagging
index "Lg,Lg,Lg." It should be remembered that
these classifications are based on limited evidence,
namely the performance of the indicators during
the business cycles of the 1948-70 period, which
included five peaks and five troughs. While the
timing classifications are expected to agree with
the patterns prevailing in the near future, they will
not necessarily hold invariably in every instance.
The timing of the series in the period since 1970
can be determined by inspection of the charts,
where the recessions of 1973-75, 1980, and
1981-82 are shaded according to the dates of
the NBER reference cycle chronology.

August '57, April '60, and December '69); crossclassification B, on their behavior at five business
cycle troughs (October '49, May '54, April '58,
February '61, and November 70). Each tabulation
distinguishes seven major economic processes and
four types of cyclical timing. The titles in the cells
identify subgroups of the given economic process
with the given timing characteristic. The number of
series in each such group is given in parentheses
following the title. Complete information on how
individual indicators are classified by timing at
peaks, troughs, and all turns, along with selected
measures and scores, is provided in the 1984

Handbook of Cyclical Indicators.
Section C. Diffusion Indexes and Rates of Change
Many series in this report are aggregates
compiled from numerous components. How the
individual components of an aggregate move over a
given timespan is summarized by a diffusion index
which indicates the percentage of components that
are rising (with half of the unchanged components
considered rising). Cyclical changes in these
diffusion indexes tend to lead those of the
corresponding aggregates. Since diffusion indexes
are highly erratic, they are computed from changes
measured over 6- or 9-month (or 3- or 4-quarter)
spans, as well as 1-month (or 1-quarter) spans.
Longer spans help to highlight the trends underlying the shorter-term fluctuations. Diffusion indexes
are shown for the component series included in
each of the three composite indexes and for the
components of some of the aggregate series shown
in section B.

Diffusion measures can be derived not only from
actual data but also from surveys of anticipations
or intentions. Indexes based on responses of
business executives about their plans and
Section B. Cyclical Indicators by Economic Process expectations for several operating variables are
presented, along with the corresponding indexes
based on actual data, as the last set of diffusion
This section covers 112 individual time series,
including the 22 indicators used in the series.
construction of the composite indexes. The peak
This section also records rates of change for the
and trough timing classifications are shown on the three composite indexes (leading, coincident and
charts in the same manner as described above, but
lagging) and for four indicators of aggregate
this section includes series with different timing at
economic activity: GNP in constant dollars
peaks and at troughs, as well as series where the
(quarterly), industrial production, employee hours
timing is not sufficiently consistent to be classified
in nonagricultural establishments, and personal
as either L,C, or Lg according to the probabilistic
income less transfers in constant dollars. Rates of
measures and scoring criteria adopted. Such series change are shown for 1- and 3-month spans or for
are labeled U, i.e., unclassified as to timing at
1-quarter spans.
turning points of the given type. Eight series are
Although movements in diffusion indexes and in
unclassified at peaks, one series at troughs, and 18 rates of change for the same aggregates are
series at all turns (of the 18, 14 have definite but generally positively correlated, these two measures
different timing at peaks and at troughs). No series present information about two related but distinct
that is classified as U both at peaks and at troughs aspects of economic change. Diffusion indexes
is included in the list of cyclical indicators.
measure the prevailing direction or scope of
The classification scheme which groups the change, while rates of change measure the degree
indicators of this section by economic process and as well as the overali direction. As is the case for
cyclical timing is summarized in the two diffusion indexes, cyclical movements in the rates
tabulations on page 2. Gross-classification A is of change tend to lead those of the corresponding
based on the observed behavior of the series at five indexes or aggregates, and thus, they tend to lead
business cycle peaks (November '48, July '53, at the business cycle turns as well

Part I I . OTHER IMPORTANT ECONOMIC
MEASURES
This part is divided into six sections which cover
a wide range of quarterly and monthly time series
measuring various aspects of economic activity.
Some of these series are very comprehensive,
pertaining to the U.S. economy as a whole, others
have to do with particular sectors or markets, and
still others relate to U.S. international transactions
or to seiected foreign countries. The represented
variables include incomes, outputs, and
expenditures; prices, earnings, and productivity;
labor resources; government receipts,
expenditures, and defense-related activities; exports and imports; and selected indicators for a few
key foreign countries.
Section A. National Income and Product
The national income and product accounts,
compiled by BEA, summarize both receipts and
final expenditures for the personal, business,
foreign, and government sectors of the economy.
Section Al shows the gross national product,
final sales, and personal and disposable personal
income. The four major components of the gross
national product—personal consumption
expenditures, gross private domestic investment,
government purchases of goods and services, and
net eKports of goods and services—are presented in
sections A2 through A5, iViost of the series in
section A are presented in current as well as
constant dollars. There are also a few per capita
series. The national income and product accounts,
briefly defined below, are described more fully in
the Survey of Current Business, Part 1,
January 1976Gross 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 trie 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 anci nontax
payments to government.
Personal consumption expenditures (A2) is
goods and services purchased by individuals,
operating expenses of nonprofit institutions, and
the value of food, fuel, clothing, rent of dwellings,
and financial services received in kind by individuals. Net purchases of used goods are also included.




Gross private domestic investment (A3) is fixed
capita! 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 seryices
(A4) is the compensation of government employees
and purchases from business and from abroad. It
excludes transfer payments, interest paid by
government, and subsidies. It includes gross
investment by government enterprises but excludes
their current outlays- It includes net purchases of
used goods and excludes sales and purchases of
land and financial assets.
Net exports of goods and services (A5) is exports
less imports of goods and services. Exports are part
of the national production; imports are not, but are
included in the components of GNP and are
therefore deducted. More detail on U.S.
international transactions is provided in section E.
National income (A6) is the incomes that
originate in the production of goods and services
attributable to labor and property supplied by
residents of the United States. Thus, it measures
the factor costs of the goods and services produced. It consists of the compensation of
employees, proprietors' income, rental income of
persons, corporate profits, and net interest.
Saving (A7) is the difference between income
and expenditures during an accounting period.
Total gross saving includes personal saving,
business saving (mainly undistributed corporate
profits and capital consumption allowances), and
government surplus or deficit.
Shares of GNP and national income (A8).—The
major expenditure components of GNP
(consumption, investment, etc.) are expressed as
percentages of GNP, and the major income
components of national income (compensation of
employees, corporate profits, etc.) are expressed as
percentages of national income.

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

Section B. Prices, Wages, and Productivity
The important data on price movements include
the monthly consumer and producer price indexes
and their major components. Based largely on
these series are the quarterly price indexes from
the national income and product accounts, notably
the GNP implicit price deflator (with weights
reflecting the changing proportions of different
expenditure categories in GNP) and the fixedweighted price index for the gross business product. Data on both levels and percent changes are
presented for the period since 1975.
The group of series on wages and productivity
consists of data on average hourly earnings and
average hourly compensation (including earnings
and other benefits) in current and constant dollars,
output per hour of work in the business sector, and
rates of change for most of these measures.

This section is designed to facilitate a quick
review of basic economic conditions in six of the
nations with which we have important trade
relationships. The U.S. business cycle shading has
been omitted from these charts. Data on industrial
production, consumer prices, and stock prices for
Canada, the United Kingdom, France, West Germany, Japan, and Italy are compared with the corresponding U.S. series. Also included is an industrial production index for the European
countries in the Organization for Economic
Cooperation and Development (OECD). The industrial production series provide cyclically sensitive output measures for large parts of the
economies covered. Changes in consumer price indexes (plotted for the period since 1975) provide
important measures of the rates of inflation in the
major industrialized countries. Stock prices (also
shown beginning in 1975) tend to be significant as
leading indicators.

HOW TO READ CHARTS
Peak (P) ui cycle indicates
end of expansion and beginning oi 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 actua
monthly figures or moving
averages.)

Dotted line indicates anticipated data.

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

Roman
number
indicates
latest quarter for which data
are plotted- { " I V " = fourth
quarter)

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

Diffusion Indexes

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

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

Dotted line indicates anticipated quarterly data over
various spans.

Rates of Change

Solid line indicates percent
changes over 3- or 6-month
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 tine with plotting points
indicates percent changes over
3-or 4-quarter spans.

Roman
number
indicates
atest quarter used in computing the changes.

HOW TO LOCATE A SERIES
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
senes 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 reporl's sections.

Table 1. Summary of Recent Data and Current Changes for Principal indicators
Base Ma
Unit
of
measure

h[k dsn=d timmg classification

Peicsnt change

Annual aserage

2d Q

2(3 Q
0987

Sept
19S7

to
JiiQ

Sent

to
198?

I. CYCLICAL INDICATORS
Al. Composite Indexes
9JO
920.
930
910.

186.2
167.2
142.8
117.1

189.2
167 .8
141.9
118.2

104.6

105 .9
HA

146.4

142.7

40.7
3.5
370

41.0
3.6
354

t L
*t
LtLtLs
l
L L

Twelve leading indicators
. .
Four rniighly coincident indicators..
Sa Sagging indicators
Ratio, comctden! index to iagg'og indc

Leading Indicator Subgroups.
914. Cspdal investment coramsSnieiHs.
9S5. inventory investment and purchasing
916. Prafftatrfrtfy
$17 Money and Smancsai
flows

.

168.6
160.3
135.3
118.5

179.2
164.7
1A1.9
116.1

L.L.L
L.L.L.
til..
L.L.I

!1O.3
102 . 0
115.2
138.8

109.5
103.4
119.0
143.9

40.5
3.3
383

192 . 6
169.4
141.2
120.0

192.5
169.7
142 . 9
118.8

0.6
0.2
•0.1
0.3

NA
107.0

NA
107.2
NA
142 .9

NA
106.5
HA
143.8

NA
107,4
SA
NA

40.8
3.7
303

41 .0
3.8
327

41,0
3.8
297

40.4
3.6
286

0.54S
146

0.591
148

0.645
156

0.651
158

0.639
155

0.646
154

0.012
-1.9

188.43
108.03
101.13
24,733

188.94
108.91
101.71
24,757

189.17 189.97 190.69
1 0 9 . 7 0 109.51 109.99
102 .27 102.13 102 .28
24.8K2 24 ,850 24,885

186.86
109.60
102.41
24,912

60.71

60.92

60.89

61 . 0 4

7,435

7 , 178
6.0
2.3
14.2
1.6

7,224
6.0
2.4
14.0
1.6

7,221
6.0
2.3

7 ,089

NA
1.0
NA

-0.2
0, 1
7.9

-0.2
0.
7 . 1

0.007
-0.6

0.043
1.4

60.82

7,948

NA
1 .2
HA
-2.5

0.1
0.1

60.36

I .6
1.0
-0.1
1. 1

-0.7
N
A
0.6

40.9
3.7
326

1.6
0.4
-0.6
0.9

-1 . 5
-0.2
3.7

191.5
169.1
141.3
119.7

192 .2
169.4
141.8
119.5

•0.1
0.2
1 .2
•I .0

B. Cyclical Indicators by Economic Process
8 1 . Employment, and Unemployment
tegmai f mpfoyroeni Ai)|iistmenis
• 1 Average weekly hours. m!g
21 ftierage weekiy overtime Sioms. mfg.'
*5. Average weekly initial claims (inverted')

••

lot) Vacancies
60. Saho, hsip-wanted advertising io unemployment.
46, Hslp-wan!ed advertising in newspapers
Cosnpfehensive Lmployment:
48. Employee hours in nonagricultural establishments
M. Persons engaged in nonaEncuttural achvsttss
• 4 1 . Employees on noisagnciiitiiral payrolls
40. Employees in gsods-produeing industries
90. Rsiffl, civilian employment !o popiilarjsn
of workmg age]

L.L.L
L.C.L..
L.C.L

Hows

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

Ratio .
1957=10

0,49?
139

0.5ft!
139

U.CC,.
U.CC.
C.CC..
LC.O.

A.!., Dll.lHS
Millions

182 . 11
103.97
97.61
24,930

185 .31
106,43
100.17
24,940

Percent.

59.38

59.95

Weeks .
Percent

I.J12
7 .2
2.8
15.6
2.0

do ...
Thousands .

Thousands.,

U.Lg.U.

Comprehensive Unemployment'
.57 Number ot persons unemployed (inverted1)
L.Lg,LS.
43 Unemployment rate (inverted'}'
L,lg.U
4b. Avg. weekly insured iinempioymeni rate (mv. s )'-.. .. L.Lg,U..
* 9 1 . Average dis:a!;on of unemployment (inverted*}
l.g,Lg.Lfi.
44. Unemployment (ale, 15 weeks and ovef \m')
Lg.Lg.Lg..

•,237
7 .0
2 ,8
15.0
i .9

6.7
2 .6
14.8

6 .2
2.4

1.8

14.9
1.7

3607.5
2977.0

37 13. 3 3 7 7 2 , 2
3093.6 3 1 3 2 . 6

3795.3
3133.2

2538.8

2639,9

539.2

541,4

0.3
0.8
0.6
0. 1
0.33

5 .9
2.2
14.2
1.6

0.
0.
0.1
-2.1
0.

1.8
0.1
0.1
0.7

3153.0

0.1

2691 .2 26 8 4 . 6 2 6 9 1 . 0 2698.1

14.3
1 .6

0.054
5.4

6.5
0.5
0.2
-0.7
0.1

4,7
0,1

0.2

0,6
0,

0.5

0.2

0.3

0.

0.6

-0.9

0.1

1 .0
0.7
2.0
O.E

2.1
2.0
2 .!

0.5
0.7

1.0
1 .3

3.5
0.2
0.1

B2. Production and Income
Comprehensive Output and Income
50 Gross national prodisd in 1982 dollars. .
.
C.CC
5? Persona! income m 1982 dollars
C,C,C.
*S1. Persona! income less transfer p3ymenfs
in 1982 dollars.
. C.CC.
53. Wages and salaries in I9S2 dollars, mining, mfg..
and con sir u d io ti
. . . . . . . C.CC
indiistfial Production
*47 Industrial production
73 Indus&na! production, durable mfrs.. J4 Indiisfrisi production, nondurable mfrs,
49 Value of goods eijr.put in 1982 dollars

C.CC
CC.C.
CL.L.

1977 = 100..
...
do....
do .

.C.CC.

Capacity Utilization.
82 Capacity utilization rate, mlg'..
8 1 Capacity utilization rate, materials'

2676 . I 2 6 7 5 . 7

3831 .2
3147.9 3 1 4 3 . 1

538.9

534.3

534.7

12 3 , 7
125,1
126,9
128,4
130.5
124 .6
133.1
130.1
1548.6 1595.0 1 6 2 6 , 0

128.2
131 . 4
135.7
1638.2

130.9
134.0

127.6

138.6
1658.3

79.7
78.6

L.C.U
l.CU

80.0
7 8.7

93.24

98.22

532 .6

534,7

536.8

0.4

0.4

130.6
133.4
138.4

131.0
134,2
138,6

131.2
134.3
138.7

0.3
0.6
0.1

0.2
O.I
0.1

81.5
80.7

100.10
93.11

3147.6

81 . 6
80,8

0. 1
0.4

-0, 1
0.

1.2

B3. Consumption, Trade, Orders, and Deliveries
Orders awl Deliveries.
8. M?rs,r fiew orders, durable goods
1. Mfrs.' flew orders in 198? dollars, durable goods
*8. Mfrs.' raw ortes in 198? dollars, consumer goods
and rHstenais
25. ChangE in mfrs.' un!i!l$d orders, durable gaoas96. Mfrs.' isntslled orders, dussble goods'
*32. Vendor performance, slower deliveries'®
Consumption and Trade.
56. Manttiactiinng and irade sales
*Vt Mai5ufell;ring and trsde sales <n i982(io!lsrs
75. Industrial production, consumer goods. . .
54 Sales o! retail stores
59. Sales of retail stores sn 1982 dollars
55. Persona! consiimpbon expendihires. automobiles
58. Indea o! consurrssr sentimenS @

L.L.L .
L.L.L

99.57
93.47

L.LL.
L.L.L..
1 .Lg.U.
l.t.i

0.66
363.03

CCC.
CCC.
CL.C,
CL.U
U.L.U..
L.CC.
L.L.L

Bi! dol., EOF .
Percent

107 . 8 0
97.65

-2 .4
-2.6

83.64
80.73
83.64
84.42
84.32
84.02
85.31
-0.02
4.48
3.08
6.18
2.52
0.54
-1.33
362.74 358.76 372.22 3 8 1 . 4 5 3 7 8 , 4 0 3 8 0 . 9 1 3 8 1 . 4 5
45
52
54
62
5B
64
60
69

-0.5
-3.66
0.7
-2

119.8
Hi.97
107.52
121.3
93.2

4 2 5 . 3 1 437 . 76 4 4 7 . 4 6
NA
419.3S 4 2 7 , 9 2 4 2 9 . 7 9
NA
124.0
126.2
126.7
129. 1
1 2 1 . 2 0 1 2 2 . 4 8 125.38 123,36
113.22 1 1 2 . 2 3 113.33 115.02
135,3
117.5
143.8
125.1
94,8
90.5
91.8
93.9

320.9
55,230

120,4
58,438

419.27
406.32
1977-1

99.83

452.65
432.55
129.2
127.06
114.26
93.7

97.19

458.65
KA
NA
432.84
129.3
128.9
129.27 1 2 8 . 7 6
115.83 1 1 4 . 9 6

1 .1
0.5
2.0
•1.98
0.1
9

1.3
O.I
0.1
1 .7
1.4

6.4
6.0

0.1
-0.7

0.9
5.81
3.8
4

-0. 1
•1.40
2 .5
6

N
A
-0.3
-0,4

NA

HA

•0.8

1.0
6.5

NA
1.9
2.4
1.5
14.9
2.3

94.4

93.6

0,7

-0.8

120.9
NA

123.9
NA

1.4
NA

2.5
NA

-0.5
-2.1

0.9
NA

38.33
29.52

38.04
29.15

•0.8
-1.3

10.6
9.0

4 .2
2,6

B4. Fixed Capita! Investment
Formation of Business Enterprises
12. Net busness formation .. .
13. New business incorporations
BSJSSWSS investment Co mra it men is.
10 Contracts anS wders for plant and equipment.
*20. Contracts and orders for plant and equipment
in 19B2do«ars
24. Mfts.' new orders, nofidelense capital goods
21 Mire.' new orders in 198? dollars, nondefense
capital goods




L.L.L
U.L.

1967=-100
Number

L.L.L.

120.2
57,198

3i . 1 8

LL.L.
L.L.L.
L.L.L.

!20.8
58,440

34.23
26.97

34.14
26.59
30.06

33.88
27.01

37 .46
29.44

39 . 0 4
30.22

40.74
31.98

33.56

-5.9
-7.7

Table 1. Summary of Recent Data and Current Changes for Principal Indicators—Continued
Basic data-'
Unst
o!
measure

MSe ftfid iimmg dassitscatissi!

Annual average
20 Q

3c! Q

JisSj

Sep.
3d Q

I. CYCUCftl SNDICfiTORS-Con.
B4. Fixed Capital investment—Can.
Business Investment Comimtafwsfs—Cos.1
9 Correction contracts awarded for commercial and
industrial buildings, floor space
LC.U
11. riewiy approved capital appropnates, si!g.,.
ULg.U..
5
97. Bacfcfog al capiiai appropustans, isij.
C.tg.Lg..

Residential Construction Commitments and Snvestfrssni:
28. New private hosismg uniis started
*29 Building permrts, sew private housmg units..
89. fiesiriesiiial iue<5 investment in 1982 dollars

U.I.
L.LL..
L.L.L

Ax, thousands
1967 = 100 ....
ft.r.. bii. dm....

79.43
26.14
71.87

387.13

Business investment Expenditures:
61. Expenditures for new pfostt arsd e$(ifpn?er>t
C-Lg-Lg69. Mfrs.' raartweiy and equipment sales and business
construction sipenditures
C.Lg.Lg.
76. Industrial cfoduttmn, business equipment
C,U,U..
86. NosvesuJetstial fsserj mvustment in 1982 dollars
C.Lg.C.

76.62
21,44
69.17

379.47

399.12
140.2

Mrf sq. ft....
Bsi.dol.. ....
Bsl. doi.. EOP

39 1.5 7 3 8 3 . 8 7
139.5
140.7
443.8

392.23
142.7
437.9

U6.I
461.8

1,612
122.5
196,8

I ,622
119.4
196.7

36.42
27.22
94.58

5,742
138.1
174.6

77.03
21.42

6 9 . 11

i ,806
141.3
196.4

3.7

2! .4
3.9

B.7
RA
KA

398.04

1,795
134.2
198.2

NA

1,598
118.6

1,598
119,8

i.8
•0.1

.145.8

1,669
119.8

0.5

4.4
0.

NA
2.4
5 .5

69
76

-10.2
-8.7
-0.7

0.6
-2.5
-0.1

28
29

-8,6

398.45
14S.0

-20.9

30

2.1
1 .4
2.S

B5> Inventories and Inventory feiresimeni
Jnvealor> Investment
30- Change in business inventories m 1982 tfoftars" L t . L
*36. Change in mfg. and trade mveniews en Sand and on
order in 19S2iSolto {smoothed*)3
LL.L.
3! Chanje m mfg. and trade inventories3
. L.L.L.
38. Change in mire.' inventories, material and supplies
on fund antf on ofite"'
L.L.LInventories on Hand and on Order:
71. Mfg. ana Srade inventories'
70 Mfg. and trade (fitwtofies in 1982 ctol!afss,
65. Mfrs.13jsven!ones, finished joods*
*77. Ratio, mfg. arid trade inventories to sales Irs

1982

toites'

I4lg.il-

7.4

13,8

47.6

0.85

5.26
2.0

17.48
41.2

33.82
47 . 0

-0.29

0.28

2.09

-0.67

Bi! fci

6il. doL EOP

Lg.Lg.Lg..

1.54
22b.73

ill. do!.. £OC.

1.52

27,01
12.9

-23,0

1.39

36.26
35.9

6 5 0 . 7 0 6 5 2 . 7 0 663,01 6 7 4 . 7 5
6 3 8 . U 6 4 3 . 2 9 651.82 65S.9B
105 . 7 6 1 0 3 . 27 304.59 1 0 3 . 4 8

Lg.ig.is-

78 IVHTS.' mveriimtes. materials and implies on hand
and on order'
.... Llg.Lg

18,1

-1.59

6??.74 678.82
658.29 6 5 6 . 8 4
104.58 105 . 3 4

1.53

1.52
236.B4

2 .02
284.2

1.81

1.98

1.2S
288.3
1.84

71
70
65

0.01

7?

238.22

2.27
238.3

I .8
0.8
-1.1

0.2
-0.2
0.7

1.52

227.58 133.86

16.34
5.8

78

86. Prices, Cssfs, and Profits
Sensitive Coftimedtty Prices:
98. Changs in producer prsees, sensitive rnafena/s'. . .
23. Spot market prices,rawjpsfestwai fnateials @
*99 Changs in sensitive materials prices (sntooihed1)'

LL.l
U.L.L.
L.L.L..

StocH Pncss.
*S9. SincS: prices, 500 cnminon stocks

Ll.L...

Profits and Pfofil Margins:
16. Corporate promts after tsr.
18. Corporate pro'iis after tax in 1982 dollars
79. Corporate profits after tax witts iVA and CCAU]
80
do
in 1982 dates...
15. Profits after Sues pefdntefS^sste, JJ)f|.1
?6. fe!w. PKB !o w)iS labor cost nonfarm business
Cash Row:
34. Corporate net cast? ftotv
35. Corporate net casts flow m S98? dollars.. ....

LLL
Ll.L..
LC.L
LC.L
L.L.L.
L.L.L.

-0.22
244.8
-0.43

1967 « 1
Percent

236.34

128.1
120.8
180,9
175.0
3.8
99, i

Cents
1977 = 1

L.L.L - kr., ttiL doi.
. . L.L.L

Unit Labor Costs and Labor Snare:
63. Unii later cost, business sector
68. U b w cost per unit of real gross domestic product.
nani man M i corporaiiorft
62 Labor cos: per ami of output isrfg.
a) Actual data
*b) Actual data as percent of trend'
64. Compensation of emoloyees 3$ perauf of
fidliofwi inco^f'. -.

0.30
228.9
O. 1A

369 .4
369.5

368.9
369.0

i.19
Z67.6
0,71

279.30

.

1977 = 100

3,50
392.4
1.61

-0.74
1.4
- 0 . 14

2 ,22
1.4
-0.23

129.0
US. i
165.9
153,3
4.4
99,1

134.5
120,5
161.6

376.?
3 7 8 . f.

384.6
384.3

1 .6
1,5
0.5

166 .9

169.4

370-2

0.7 24

0.728

73.A

23
99

16
18
79
80
15
36

4.3
3.8
-2 . 0

-2.9

0.715
137.8
100.4

1 .08
7.?
1.10

99,3

0.7 01
137.9
100.5

1.49
7.1
0.2B

318,66

163.6

197?--100.
Doiiars...

126,S
116,7
i79.4
170.0
3.7

-0.30
Z48.S
0,43

34
35

0.6
134.5
98.0

135 .4
93.7

0.4
0.5

0.8
0.8

-0.9
•0.8

-0.7
-0.8

73.2

136.7
99.6

135.5
98.8

133.7
97 . 4

134,3

97,9

62
62
64

B7, Mofiej and Crerfit
Money.
85. Change in money supply M l !
102. Change in money supply SI?5
104. Cnanga tn total jtqwdassets-1
105. fcney supply Ml m 19S2 daMars,.
•106. Money supply M2 m 1982 dollars
VetociCy of Money:
W. Ratio. GNP to rnofssy supply M l '
IDS. Ratio, personal meome to money sisiip'y M2'

33.
1121U.
*1U.
HO.

Net change in mortgage debt:
Net Changs in business loam1..Net change :rc consumer mstsftmsnt crerJtt1CJssflge «s tsusasess and consuiner credit outstanding'
funds raised by private nonfmanciai borrowers

Cre
39. DeSmqaency sale, mstallmfini loans {inverted')''




0,99
0.68
0.70

1,1,1.
L.CU..
l.L.L.
L.l.L.
LLL.

C.CC.
Cl&C

532.6

Rafsn.

it., fill. do!.
L.L.L
do....
L.l.L.
LL.L.
L.L.L. M., percent...
Ll.L..

Percenl C P .
O

0.32
1 .18
0.41
0.72
0.30
0.18
0.63
0.24
0.47
637.0
639.5
592.}
2360.8 2437.4 2422.2

6.757
1.341

6.301

?7.6<4

DA
10,50

22.53
76.62

54.99

10.2

6.6

632.33

628.03

2.32

i.85

5.930
1.296

5 .927
1.306

NA
-6.74
8.50
31,63
1.9
5.3
306.28 5 0 0 . 3 8
NA
16.53

0.13
0.44
0.03
0.22
0.5!
0.44
0.64
H
A
HA - 0 . 1 6
633.8
633.6
632.7
633.4
2 4 1 7 . 0 2414.3 2415.1 24,11.6
0.20
0.39

6.017
1.314

1.313

NA
NA
HA

-41.92
40.25
0.5

-23.33
55.88
4.8

HA
16.94
NA
HA

-0.41
-0,07
N
A
-0.1
0.3

-0,09
-0.12
0.23
0.4
-0.6

NA

18.59
15.63
4,3

HA
40.27
NA
BA

NA
-23.27
23.13

2.4
62.3

-0.07

-I.!)
-O.I

85
102
104
105
106

0.090
0.008

0.003

(.316

MA

• 1 6 . 10

0.31
0.29
0,80
0.
0.

107
108

NA
-9.36
Krt
HA
NA

33
III
113
IU
110

-0,12
0.2 1

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

Basic data
Unit
of
measure

Series title and ssmaig classification

Annual verige
IMS

1986

Juiv
196?

2d Q
198/

3d Q
•987

Jisij
138?

Ml

Sept
198?

U1Q
to

flue
to

m>

•Mi}

to
30 9

I9B1

mi

I, CYCLICAL INDICATORS-Con.
87. Money and Credit—Con.
aftk Reserves
93 free Eesesies {inverted 1 }'@
94 Borrowings from the federal Reserve' ( 5 )
Interest Sates.
I l l Metal iiswSs tat* ©
114. Discomfit rate on new Treasury b i l l s ' ©
116 Yield on new high-grade corporate bonds' (u)
115. Yield on long-term Treasury b o n d s ' ©
117. Yield on municipal
tends-'©
118. Secondary market yields, FHA mortgages-' ©
67. Bank rates on short-tarn business
teats'©
"109 flveragfi prime (aie charged by b a n k s - ©

66 Consumer installment credit outstanding"..
12. Commercial and industrial loans outstanrtrig
* 1 0 I . Commercial and industrial loans outstanding in
1982 d o f e
*9b Ratio, consumer installment rcedil to
personahncome'...

-492

1 10
753

89
672

385
647

-143
940

-296

528

935

-25

293

fc.80
5.97
9,23
8 . 14
7.32
9 .91
8 . 11
8.33

fc.22
5.53
8.62
7.64
6.63
8.85
7.46
7.50

6.65
5.73
9.65
8.58
7.7a
10.32
8.24
8.05

6 .84
6.03
1 0 . 14
9.08
7.93
10.55
8.20
8.40

6.58
5.78
9.70
8.70
7.72
10.38

6.73
6.00
10.09
8.97
1 ,82
10.55

7 .22
6.32
i0.63
9.58
8.26
10.71

0.15
0.22
0.39
0.2?
0.10
0.17

0.49

577.79
342 . 5 3

579.91
359.97

587.82
356.97

32 1 . 4 9 3 4 1 . 9 8

C.E.g.Lg.
SJ.Lg.Lg,
- Lg.Lg.Lg.
Lg,Lg,Lg
Li.lg.Lg.

dol, EC

. Lg,lg,Lg.

93
836

8.10
7.49
11.75
10.75
9.10
12.24
9 .74
9 .93

tig.tg.
C.Lg.Lg..

. Lg,Lg,Lg
U.Lg.Lg..

51 i
554

1,321

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

522 . 8 0
331.62

97

0.45

-13
-183

93
94

0.43
0.20
I .03
0.94
1.15.
1.47
0.78
0.55

0 . 19
0.30
0.49
0.50

1J9

-0.04
0.35

116
115
117
118
67
109

1.4
-0.8

NA
-1.7

66
72

-2 ,4

-2 .7

0.15
C23

in

8.25

8.70

N
A 59 i . 18
351 . 0 4 3 5 3 . 8 6

595.83
349 . 9 2

NA
351.33

0.8
-0.6

NA
0,4

338.62

339 . 6 1

337.41

136,79

-0.6

0.4

!5 . 8 2

15.85

NA

0.03

NA

344 . 4
0.2

0.6
0.3
0.
0,1
0.4
0.4
0.4
0.2

-0,1

0.5
-0.3
0,5
0.
-0.2
-0,9
0,1
0,7
0.2

0.5

0.3

0.6

0.7

0.

O.i

-0,6
0,8
-0.5
0.3
0.3

-0.3
NA
NA
NA
NA

34 1
345
346
370

0.3
0.3
0.

-0.4
-0.3

-2.6

-4.5

0.4
0.6
-3.5
-6.2
0.8

44 1
442
37
444
445
446
447

-0.2
0.2
0.7

8.25

356.89

348.16

14.64

15.71

15.82

15.77

111 .2
322.2
0.3
3O9.B
308.7
323.6
306.1
318.7
300,5
291.8

114.1
328.4
0.1
319.7
299.8
312.S
280.0
307.6
306.5
284.9

i 16. 1
334.5
0.5
329.1
301.9
314.7
285.7
308,9
310.5
287.2

117.1
338.8
0.4
332.2
306.9
318.6
301.5
313.0
311 . 5
291.5

0.3
334.4
310.4
323 .2
307 . 7
317.9
313.1
293.4

340.8
0.2
333.8
3SO.2
322.6
307.8
317.0
312.0
293.3

342.7
0.5
333.9
310.5
323.8
309.1
318.2
312 . 6
293. 1

335.6
310.4
323.3
306,2
318.4
314.8
293.7

165.2

169.2

171.7

172 . 8

174,0

173.1

174.1

iH.l

94. J
174.6
98, 3

Percent

0.32
0.5*
0.6!
0.1*4
0.16

41 A
381

95.0
1B1 .2
100. 1
109 . 5
107.5

94.6
184.1
99 , 8
109 .7
107 ,6

94.0
185 . 5
99 . 3
110.0
107.9

93.7
NA

117.83 119.20 119.62
109.60 111,25 112.18
8,237
7,948
7,435
3,64?
3,427
3,751
3.D32
2 ,877
2,661
1 ,454
1 ,347
1 ,424
6,708
6,432
6,02 3

120.04
112.86
7,178
3,216
2 ,683
1,279
5.736

KA

0.

-0.05

NA

II. OTHER IMPORTANT ECONOMIC MEASURES
8. Prices, Wages, mi Prsduciivity
B l , Nee Movements
310.
3M.
32Gt
322
330.
i'ih
331.
332.
333
334

implied i>!rce (letiator ior gross national product.
C*R»et pis* rate loi ali usSran ctrrssTmsrs (C?I-'J)
Changs in CPI-U (S/A)'
Coiisiimer pries indw fof all urban consumers, food
Producer price index (PPI), all commodities © . . . .
PPI, industrial commodities ©
PPS, trade materials for further processing
PPI, intermediale materials, supplies, 3<id components
PPI, capital equpnect.
PPI. finished conssimer goods

©

1967 = 100.
Percent
1967-100..

1 !7 .8
342.6

0.9
1 .3
-0.1
0.9
1.7
1 .2
5.5
1.3
0,3
1.5

0.6
1.1
-0. 1
0.7
1.1
I .4
2 .1
1.6
0.5
0.7

J10
320
320
322
330
335
331
332
333
334

B2, Wages and ProtkicHvsiy
340 Average hourly earnings of production or nonssipervisory
workers on private rionagricuiiufa! payrolls
3$1 ReaS average hourly earnings at production or
nonsupervisory workers on private tirjnagficisiiiiral payrolls.
341 Average hourly compensation. JsontOTi business sector .
346, Real average hsuriy eompfiosaitoa, nonfarm business sector ..
370 (Mput pei hour, business sectw

1977=-

107 .5
105 .8

358 Output pe; hour, jionfatm business sector

93.7

93.7

93.8

NA
NA

340

C. tabor Force, Employment, 3»4 Unemployment
441 Civilian labor torce
443
37.
444
445.
446.
447.

Civilian employment
Numbe' o) persons unemployed
. - .
Number unemployed, mates 20 years ami over
Numbe< unemployed, females 20 years and ovei
Number unemployed boifr sexes 16-19 years c i age
Number unemployed. iulMiine workers

CwSsasi Labor force Participation Rales.
4M Mste ZS yests mi mi452. Femato 20 years and over'
453. Both sexes 16-19 yearsoi age"" ...

Tbuussnrfs
ds

Percent
. . do

115.46
107.15
8,312
3,715
3,13$
1,468
6,793

78. 1
54.7
54.5

78. i
55.5
54.7

78.2
55.9
54,6

78. 1
56. 1
54.1

77.9

56.3
54.8

119.95
112.73
7,224
3,323
2,683
1,218
5,837

120,30
113.08
7 ,22 1
3,235
2 ,664
I ,321
5 ,783

119.86
112.77
7,089
3,089
2,703
1,297
5,587

78.0
56.4
53,8

77.9
56.4
56.4

77 . a
56.2
54.2

-0.7
8.5
-0.9

-3.4

0.4
0.8
-6.5
-6.0
-7.5
-5.4
-6.4

-0. 1
0.
2 .6

-0.1
-0.2
-2.2

-0.1
0.2
-0.5

-1,8
1.5

-1.8

-5 .0
-4.8

451
452
453

D. Government Activities
0 1 , Seceipts and Expenditures
WO.
501
50?
510
5H
512.

517
525.
548
55?.
570.
564

Defense Detriment gtoss obligations incurred
Defense Department pome contract awards .
Mirs,' new orders, defense products
Industrial Dreduction, defense and space equipment.
Employment, defense products industries. . . .
Federal Government purchases lor national defense

-196.0
788.6
9B4.6
63.1
579.6
516.5

Fiirjefal Govefnmflnt surplus or deficit'...
FsSefSl Government receipts
federal Government expenditures
StsSe and local government surpfus of M a t 1
Stftte and local govef^raent receipts
Siate and local government e-ipewMures

-204.7 -170,5
827.4
879.3
1033 . 0 1 8 4 9 . 8
56.8
41.0
618.8
632.1
561.9
591.1

-139,2
922 . 9
3062 . 1
50.6
651.3
6 00, 7

KA
NA
106 3 . 7
NA
NA
6 ! 2 .9

2 6 , 8 8 3 29 , 9 9 8 2 9 , 8 5 5
1 2 , 2 4 0 1 1 , 9 6 0 11 , 8 0 3
9 ,112
9 , 165
7 ,225
17 1.4
182.0
188.3
1 ,585
1,544
1,594
277.8
287 .5
259.3

32 , 3 5 7
Ii,902
10,141
189.0
1,592
294.5

NA
NA

31.3
5 ,0
1 .2
9 .6
3.0
1.6

NA
NA
0,2
NA
NA
2 .0

500
501
5 02
510
511
512

NA
NA
-4.5
0.7
K
A

8.4
0,8
43.1
0.4
-0.1
2 ,4

NA
K
A
-8.1
0.6
NA
0.5

517
525
548
557
570
564

KA
NA
KA
NA
MA
KA

7 .8
15.7
5.7
8.2
5.6
5.4

NA
HA
NA
NA
KA
HA

602
6 04
6 06
612
614
616

02. Defense Indicators

Thousands
A r , bil (So!.

31 , 8 6 7
14,980
9,523
188.7
1 ,596

32,619
14 , 4 9 9
9,511
190.2
1,603

SA
NA
9 ,083
191 . 5
HA

NA 2 1 , 0 0 5
NA
2,956
NA
4,260
KA 3 5 , 8 4 4
NA
4,125
NA
5,800

20,221
2,520
4,420
34,320
4,574
6,008

HA
KA
NA
KA
NA
NA

9 ,506
190. 1
NA
296.0

2.4

-3.2
-4.2
0.8
0.4

E. U.S. taltmalton^ Transactions
El. Merchandise Trade
602
60<J
606.
S12.
614
616.

Exporis. excluding military aid shipments © . . .
Exports oS domestic agncuitsiral products
ExpiHls & rssneledresl machinery
General imports @
Imports o\ petroleum and petroleum products
Imports of iliJtomobiies and parts




17,732
2,426
3,917
28,773
4,180
4,688

18,052
2 , 164
3,907
30,505
2,894
5,578

19,296 2 0 , 8 0 !
2,043
2,363
4,212
3,985
30,990 33,521
3 , 127
3,301
5,511
5,811

-3.7
-14.7
3.8

-4.3
10.9
3.6

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

Percent chang

Unit

Series title

Annual average

of
measure

2dQ
1984

1985

1986

3d Q

4th Q

1986

1986

3d Q
1987

4th Q
to
1st Q
1987

1st Q
to
2dQ
1987

E
2dQ
to
3d Q
1987

2dQ

1986

1st Q
1987

-33.84
93.89
127.73
-38.60
57.02
95 . 6 2
20.79
16.30

-33.68
98.95
132.63
-38.76
56.99
95 . 7 5
24.95
19.45

-38.19
99.98
138.17
-39.52
59.98
99.50
22.35
20.74

NA
NA
NA
NA
NA
NA
NA
NA

0.16
5.4
3.8
-0.16
-0.1
0.1
20.0
19.3

-4.51
1.0
4.2
-0.76
5.2
3.9
-10.4
6.6

NA
NA
NA
NA
NA
NA
NA
NA

667
668
669
622
618
620
651
652

1987

1

II. OTHER IMPORTANT ECONOMIC MEASURES-Con.
E2. Goods and Services Movements Except
Transfers Under Military Grants
667. Balance on goods and services3

Bil.dol

668

Exports of goods and services

do

669

Imports of goods and services

do

622. Balance on merchandise trade3

do

618. Merchandise exports, adjusted

do

620. Merchandise imports, adjusted

do

651. Income on U.S. investment abroad

do

652. Income on foreign investment in the United States

do

-23.71
90.19
113.90
-28.13
54.98
83.10
21.48
16.85

-25 .27 - 3 1 . 4 2 - 2 9 . 5 9 - 3 2 .25
89.86
93.20
93.54
93.24
1 1 5 . 1 4 1 2 4 . 6 2 1 2 3 . 13 1 2 5 . 4 9
-30.54 -36.08 -33.65 -37.12
56.09
53.98
56.93
56.53
92 . 1 8
90.58
84.52
93.65
22 . 0 5
22 . 0 1
22 . 0 8
21.33
17.43
16.84
15.72
15.99

3772.2
3501.4
14,770
3439.1
2668.6
2469.8
10,419

4010.3
3607.5
15 , 0 7 3
3600.1
2841.1
2542.2
10,622

A. National Income and Product
Al. GNP and Personal Income
200
50.
217.
213.
224.
225
227.

Gross national product
Gross national product in 1982 dollars
Per capita gross national product in 1982 dollars
Final sales in 1982 dollars
Disposable personal income
Disposable personal income in 1982 dollars
Per capita disposable personal income in 1982 dollars

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

4235.0
3713.3
15,368
3699 .5
3022. 1
2645 . 1
10,947

4211.6
3704.7
15,352
3676 .7
3022.4
2660.2
11,024

4265.9
3718.0
15,370
3711.9
3038.2
2653.2
10,968

4288. 1
3731.5
15 , 3 8 8
3745.8
3061 .6
2656.7
10,956

4377.7
3772.2
15,525
3724.5
3125 .9
2674.6
11,008

4445 . 1 4 5 1 2 . 0
3 7 9 5 . 3 3831 .2
1 5 , 5 8 8 15 , 6 9 6
3756.3 3813.1
3130.6 3193.5
2645.5 2676. 1
10,865 10,963

2 .1
1.1
0.9
-0.6
2.1
0.7
0.5

1.5
0.6
0.4
0.9
0.2
-1.1
-1.3

1.5
0.9
0.7
1.5
2 .0
1.2
0.9

200
50
217
213
224
225
227

2430.5 2629.4 2799.8
2249.3 2352.6 2450.5
368.7
402 . 4
335.5
352.7
383.5
323. 1
913. 1
939.4
867.3
849 . 5
877.2
825 . 9
1227.6 1347.5 1458.0
1100.3 1150.4 1189.8

2765.8
2434.3
386.4
369.6
934.3
880.0
1445.1
1184.7

2837.1
2477.5
427.6
405 . 5
940.0
879.8
1469.5
1192 . 2

2858.6
2480.5
419.8
399.0
946.3
880.3
1492.4
1201.1

2893.8
2475.9
396.1
375.9
969.9
883.2
1527.7
1216.9

2943.7 3003.7
2487.5 2517.0
432.6
409.0
403.3
385.4
988. 1
982.1
878.4
879.0
1552.6 1583.0
1235.4
1223. 1

1 .2
-0.2
-5.6
-5.8
2.5
0.3
2 .4
1.3

1.7
0.5
3.3
2.5
1.3
-0.5
1.6
0.5

2 .0
1 .2
5.8
4.6
0.6
-0.1
2 .0
1.0

230
231
232
233
236
238
237
239

702 . 6
673.7
662.3
634.7
40.3
39.0

696.5
676.5
681.1
658.4
15 . 5
18.1

6.0
6.5
-2.8
-3.3
58.0
62.0

0.4
0.3
2.2
1.7
-11.3
-8.6

-0.9
0.4
2 .8
3.7
-24.8
-20.9

240
241
242
243
245
30

933.5
775.5
384.6
338.3
548.9
437.3

1.1
-1.6
-0.5
-5 .0
2 .2
1.2

2.3
0.9
3.5
1.6
1 .6
0.4

1 .8
1. 1
1 .3
1 .7
2 . 1
0.7

260
261
262
263
266
267

A2. Personal Consumption Expenditures
230. Total

A r. bil dol

231. Total in 1982 dollars

do

232. Durable goods

do

233. Durable goods in 1982 dollars

do

236. Nondurable goods

do

238. Nondurable goods in 1982 dollars

do

237. Services...

do

239. Services in 1982 dollars

do

A3. Gross Private Domestic Investment
240. Total

do

241. Total in 1982 dollars

do

242. Fixed investment..

do

243. Fixed investment in 1982 dollars

do

245. Change in business inventories

do

30. Change in business inventories in 1982 dollars

do

664.8
658.4
597.1
596.1
67.7
62.3

641 .6
636. 1
631 .6
628.7
10.0
7 .4

671.0
654.0
655.2
640.2
15.7
13.8

679.4
665.6
651.9
637.6
27.5
28.1

660.8
645.0
657.3
638.8
3.5
6. 1

660.2
631.0
666.6
645 . 4
-6.4

-14.4

699.9
671.8
648.2
624.2
51.6
47.6

735.9
677 .7
310.5
290.8
425 . 3
387.0

818.6
726 . 9
353.9
324.2
464.7
402 . 7

869.7
754.5
366.2
332.5
503.5
422 . 1

867 . 2
751 .6
368.4
330.6
498.8
421 .0

878.5
757.2
371.2
332.6
507 . 3
424.6

886.3
771.8
368.6
344.6
517 . 7
427 . 1

896.2
759.6
366.9
327 . 3
529.3
432 .3

917. 1
766.7
379.6
332 . 6
537 .6
434.1

-58.9
-79.2
-84.0 -108.2
383.5
369.9
37 1 . 8
365.3
442 . 4
449 .2
455 . 8
473.6

- 1 0 5 .5
-145 .8
376.2
377.4
481.7
523.2

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

Total
Total in 1982 dollars
Federal Government
Federal Government in 1982 dollars
State and local government
State and local government in 1982 dollars

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

Net exports of goods and services3
Net exports of goods and services in 1982 dollars3
Exports of goods and services
Exports of goods and services in 1982 dollars
Imports of goods and services
Imports of goods and services in 1982 dollars

do
do
do
do
do
do

A5. Foreign Trade
do
do
do
do
do
do

-100.8 -110.5
-146.8 -161.6
371.3
376.6
370.2
379.6
472.1
487.1
517 . 0
541.2

-116.9
-151.8
383.3
388.3
500.2
540.1

-112.2
-135.2
397.3
397.8
509.5
533.0

-118.4
-132.7
416.5
414.5
534.8
547.2

-121.7
-137.9
433.4
430.6
555 . 1
568.5

4.7
16.6
3.7
2 .4
1.9
-1.3

-6.2
2 .5
4.8
4.2
5.0
2 .7

-3.3
-5.2
4.1
3.9
3.8
3.9

250
255
252
256
253
257

3422 . 0 3 4 1 4 . 1 3 4 3 8 . 7
2 5 0 4 . 9 2487 .6 2 5 1 5 . 1
289 . 8
298. 1
292 .5
16.7
17 . 4
17 . 2
284.4
282 . 3
286.4
326 . 1
328.7
327 . 5

3471.0
2552.0
297.8
18.4
281.1
321.7

3548.3
2589.9
320.9
20.0
294.0
323.6

NA
3593.3
2623.4 2664.3
322 . 1
323. 1
18.5
18.9
NA
296.8
339.5
331.1

2 .2
1 .5
7 .8
8.7
4.6
0.6

1.3
1.3
0.7
-5.5
1.0
2 .3

NA
1.6
-0.3
-2 .1
NA
2.5

220
280
282
284
286
288

NA
NA
94.6
NA
3.0

7.6
0.2
27.0
8.6
0.8

NA
NA
1 .5
NA
0.

290
295
292
298
293

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 before tax with IVA and CCAdj
Net interest

do
do
do
do
do
do

3028.6
2213.9
234.5
8.5
266.9
304.8

3229 .9
2370.8
257.3
9.0
277 .6
315.3

568.5
509.4
164.1
-105.0
6.1

532.0
531.3
549 . 2
537.2
130.6
127. 1
-132.9 -147.8
4.3
4.5

A7. Saving
290. Gross saving

do

295

do

Business saving

292. Personal saving
298. Government surplus or deficit3
293. Personal saving rate3

do
do
Percent

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.
:
The three-part timing code indicates the timing classification of the series at peaks, at troughs, and at all
turns: L, leading; C, roughly coincident; Lg, lagging; U, unclassified.




538.7
547.7
166.0
-175.0
5 .5

516.2
551 .5
108.9
-144.1
3.6

554.3
515 . 3
545.3
544.4
138.4
109.0
-138. 1 -129.5
4.4
3.6

551.3
546.7
93.2
-88.6
3.0

-0.5
0.3
-32.7
40.9
-1.4

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

CYCLICAL INDICATORS
A

COMPOSITE INDEXES AND THEIR COMPONENTS

Chart A l . Composite Indexes
July May

Aug. Apr.
P

P T

T

P

Jan. July July

Dec. Nov.

Apr. Feb.

P

T

T

P T

P

Nov.
T

iiii

tlllilllllMfll

mm

flit

jJHJ||Jjfj
II
IIIlll'II 1 1 ill
ill fLfif ii'il
1

•—tiiiini

130-

Hill Iiii iiii liiiiiii

II ill liii

| i l l l l §§§§! §§

••••mniiim
liliiiillllHlH.il

••••I
iiii

«•#:§•!

ilii

•Ilii

ilii

lll H I !
lli

ii i i til ii

iii
iii

f||| III

HI
iiii

•

ll
il
-illi

iiii

m
ill

iiii
HIHi
iiii
iiii

•11I illf ||||| iiii
ipil
iiiii iJiSi
i l l1

ills

ilii Ilii! fill
HI!
11
fill mi

I I ! i l l 1111
ilii

III

iiii i l l

•Si i i i nil III

IBilli

iiii
ilii
ill!

ill

illi H i !

l
ilii il

iiiililt iiii

liiiii
'•ill i l l I m i l

Hi
iiiiiIII

;||i|l
||| |
|

•:•

III IIIIiii!

Iiiii i i i !
ililii Sill

ill!

flU IIIIHI
m m til ••IIII

'•miilii—i

iiillslii iiii
iiii lift liii
i|ii|;||i|i iiiiiiii IIII
liiiiiii
liii ill*

nil
iiiSiili mi
ilii nil
Sill III

i i i Sii'ii? Illlil i§!#§! H H liii

1 1 I l i i IIII; IIII JHl HI
1

ll
il

ill i n i l l iiii Hill iiii iiii i l l sill!

•I
illiIlii

70-

iiiitill

liiiiiiiii nil

III § 1
1
Ill 11
ll 1
1
siiili iiiiil
iiiiill! iiii

jillllil IIII

liiiii 111 IIS

lllfljll

60-

50-

iiii mi
iiii

40-

1950 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 84 85 86 1987
NOTE: Numbers entered on the chart indicate length of leads ( - ) and lags ( + ) in months from reference turning dates.
1
Beginning with data for January 1984, series 12 has been suspended from this index.
Current data for these series are shown on page 60.

10



OCTOBER 1987

ItCII

CYCLICAL INDICATORS
COMPOSITE INDEXES AND THEIR COMPONENTS—Continued
Chart A l . Composite Indexes—Continued
J l May
uy
P T

Aug. Apr.
P T

Apr. Feb.
P T

1950 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 84 85 86 1987
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.

lt€

OCTOBER 1 9 8 7




11

CYCLICAL INDICATORS
A

I

COMPOSITE INDEXES AND THEIR COMPONENTS—Continued

Chart A2. Leading Index Components
Nov.

Mar,

Jan. July July

P T

P

Nov.

T

hours of fxoductwn or nonsupervtsory
41-1
40- •
39-J

200-

300-

,

400-

•

500600700-J
110 -i
1009080706050-

'

40-

30100 75- •
50- «
25-

4540-

Contracts and orders for plant and

35-

llpi|iiS|i| plllii 1 1 11
1

302520-

1950 51 52 53 54 55 56 57 58 59 60 61 62 63 64 65 65 67 68 69 70 7] 12 73 74 75 76 77 78 79 80 81 82 83 84 85 86 1987
Current data for these series are shown on pages 61, 64, and 66.

12



OCTOBER 1987

UCII

COMPOSITE INDEXES AND THEIR COMPONENTS—Continued

Chart A2. Leading Index Components—Continued

99. CJiiip in sensitive materials prices,

l i p o c k prices, 500 common stocks

EH

106. Money supply M2 h 1982 duiats

L
L
I

111. Change in business
(am. rate. DercenO

1950 51 52 53

68 69 70 71 72 73 74 75 76 77 78 79 80 81 82 83 84 85 86 1987

iThis is a weighted 4-term moving average (with weights 1,2,2,1) placed on the terminal month of the span.
Current data for these series are shown on pages 67, 68, 69, 7 1 , and 72.

ItCII OCTOBER 1987



1
3

CYCLICAL INDICATORS
COMPOSITE INDEXES AND THEIR COMPONENTS—Continued
Chart A3. Coincident Index Components
July May
P

T

Aug.

Apr.

Apr. Feb.

P

T

P T

Jan. July July Nov.
P T

P

T

110-

lilfiiii iiilS III
sin mill ill! i i
•iiiiSiiiiilil

100-

iiliiiliiiillii

90-

WBiiM «mmm W&ms S s

nil mi mi«

80-

70-

2800
2600-

240022002000
18001600
1401301201101009080450400350300-

250-

200-

150 J

1950 51 52 5354 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 84 85 86 1987
Current data for these series are shown on pages 62, 63, and 65.

1
4



OCTOBER 1987

lt€l>

CYCLICAL
COMPOSITE INDEXES AND THEIR COMPONENTS—Continued
Chart A4. Lagging Index Components
July May
P T

Aug. Apr
P T
••VIS---

Jan. July July Nov.
P T
P
T

Apr Feb
P T
••• i

i l l , - ••••

:

l

l

91. Average duration of unemployment
10121416- ,
182022-

•177, Ratio, manufacturing and trade i
ill .

1.8-1
1.71.61.51.4-

Later cost per unit of output, manufacturing
I I as:percB|)ffrend (percent)

1101051009590-

191715-

109. Average prime rate charged b y b

131197400350300-

and industrial loans outstanding in 1982 dollars (
,Lg,

250200-

15018-

95. Ratio, consumer installment credit
(percent)

16141210-

1950 51 52 53 54 55 56 57 58 59 60 61 62 63 64 65 66 67 68 89 70 71 72 73 74 75 76 77 78 79 80 81 82 83 84 85 86 1987
Current data for these series are shown on pages 62, 68, 70, and 73.

OCTOBER 1987




1
5

CYCLICAL INDICATORS
CYCLICAL INDICATORS BY ECONOMIC PROCESS
Chart B l . Employment and Unemployment

42-i

41-

403938

J

3-

for unemployment insurance,

- • • I J
200-

iit111

300-

400- "

500600700-

1.4-

1.0-

0.6-

0.2-

180160140120100-

80-

60 J
1962

63

64

65

66

67

68

69

70

71

72

73

74

75

76

77

78

79

80

81

82

83

84

85

86

87

88 1989

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

1
6



Kill

CYCLICAL IND1O,!V:«
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued
Chart B l . Employment and Unemployment—Continued

200190180170- "

160-

150-

115110 —
105100959085-

80-

75-

70-

65-

2726252 4 -

•

23- •
2221-

61—|
6059-

58-1'
57565554-J

1962 63

64

65

66

67

68

69

70

71

72

73

74

75

76

77

78

79

80

81

82

83

84

85

86

87

88 1989

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

IM:

OCTOBER 1 9 8 7




17

CYCLICAL INDICATORS
B

I

CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued

Chart B l . Employment and Unemployment—Continued
Dec.

Jan. July

Nov.

P

T

P

T

July

Nov.

P

T

5-

7-

911 -

56789-

1011-

234567-

8-

10121416182022'

123- ,
45-

1962

63

64

65

66

67

68

69

70

71

72

73

74

75

76

77

78

79

80

81

82

83

84

85

86

87

88 1989

Current data for these series are shown on page 62.

1
8



itrn

CYCLICAL

B

I

INDICATORS

CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued

Chart B2. Production and Income
Jan. July
P

T

July Nov.
P T

iiiii!

3200-

2800 -

2400-1

3600

il
l

• B I B Illllll iiiiiii i i i i i ill II11 nil iiiii
34003200-

Illl I I I I siiffggi Ilii Illl 3000flk Iiiii
2800'•?&£!£•£&-£j^ltP^0£^^~£

•illl

;& £•!• :•£•: •>'}£ i | ;>l:V >'&. ##' ££• :••">:; IS": •£# I S ££: |:!&: •!:'•

IllIlllllllll IIII1|| || :|i: I||lpi; 11 I l
I |-1;: 11 || l|l|ll | 1
l l ||1
1 ll
1
2600i||i|||l||
:|§ :|ii
24002200-

BiiJii

20001800-

3000•ssis'wasiss: S P i i S s : - <:m:mmmy >;: m m m
•mmmam s w w « s ss;«-;;S#SB;. ;.>.•: ^ «s< s:;s

lilllSliiBi

2800-

lisiiiiiiis i i i i i i i i i mmimiSjMmm

2600|ll|||||l|l|lll:;ii
pfflllil IIIIIIII lilllll iIll-ill

2400-

:

11II11 ill 11 ill ill i •! i J: 1 i
2200-

illl
lll

2000-

| i l | | | | | | I i : g h | | | | 1 | iiiii |i;|,i;:i:i

1800-

Illllll 1 III! I i i i i H S
llllll IIIII Iiilii I l l l
1600-

llllllililll
1400-

iiHi
iii
ili

HI

600-.

iiiii

§ 1 1 l i ! If li Hiii-i
11 i

iiii
IlillilW lllll 1 illliIliiSR
^Pili iiii||i| ill
llJI
111
illliliit illlflili": iiiKi

ill
lll

1962

63

liiiil

Ilii

550500 450-

1 Iiiiiiii ! | i ! ! 1

64 65 66 67 68 69 70 71 72 73 74 75 76 77 78 79 80 81 82 83 84 85 86 87 88

400

1989

Current data for these series are shown on page 63.

BCII

OCTOBER 1987




1
9

CYCLICAL INDICATORS
B I

CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued

Chart B2. Production and Income—Continued
Der.
P

Nov.
I

140 130120110100
90150140 130120110100908018001700160015001400130012001100 1000900800-

90807060908070601962 63

64

65

66

67

68

69

70

71

72

73

74

75

76

77

78

79

80

81

82

B3

84

85

86

87

88 1989

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

20



OCTOBER 1987

CYCLICAL INDICATOR
B I

CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued

Chart B3. Consumption, Trade, Orders, and Deliveries

1962

63

64

65

66

67

68

69

70

83

84

85

86

87

88 1989

Current data for these series are shown on page 64.

BCII

OCTOBER 1987




21

CYCLICAL INDICATORS
B

I

CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued

Chart B3. Consumption, Trade, Orders, and Deliveries—Continued
Ian. July
P

T

July
P

Nov.
T

550

lil lliillit illlliif jlilllll unit it niiil

500
450
400
350
300
250-

200-

56. Manufacturing and trade sales in current dollars
150

140
120'
100
80- 1
140 •
120>
100
80'

60

54. Sales of retail stor
160
140
120'
100
80

60

40-

20'

100'
SOSO"
70'
60'

1962 63

64 65

66

67

68

Current data for these series are shown on page 65.




69

70

71 72

73 74

75 76

77

78 79

80

81 82

83 84

85 86 87

88 1989

CYCLICAL INDICATORS
B

CYCLICAL INDICATORS BY E C O N O M I C P R O C E S S — C o n t i n u e d

Chart B4. Fixed Capital Investment

contracts awarded for commercial
(mil. sq. ft. of floor space; MCD movi

MX

1962 63

64

65

66

67

68

69

70

71

72

73

74

75

76

77

78

79

80

81

82

83

84

85

86

87

88 1989

1

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

BCD

OCTOBER 1987




23

CYCLICAL INDICATORS
B I

CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued

Chart B4. Fixed Capital Investment—Continued
Jan. July

July

Nov

no -i
1009080-

Ia

7060353025-

20-

15-

10-

480440400360320280240200-*

:

JM

480440400360320280240200160160140120 10080-

60-

1962 63

64

65

66

67

68

69

70

71

72

73

74

75

76

77

78

79

80

81

82

83

84

85

86

87

88 1989

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

24



OCTOBER 1 9 8 7

IMJI

CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued
Chart B4. Fixed Capital Investment—Continued
Jan. July
P

T

July

Nov.

P

I

550500450400350300250 -

200-

§j§§

'

150-

87. Structures)

100 J

2.6-i
2.42.22.01.81.61.41.21.00.8-

29. New private housing units

local building permits

t

20018016014012010080-

60 -»

89. Gross private
I I 1 9 8 2 dollars, Q

240-1
220200-

fixed investment in

180160140120100-

1962

63

64

65

66

67

88

89

7

72

73

74

75

76

77

78

79

80

81

82

83

84

85

86

87

88 1989

Current data for these series are shown on page 67.

ItCII

OCTOBER 1987




25

CYCLICAL INDICATORS
B

I

CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued

Chart B5. Inventories and Inventory Investment
Jan. July
P T

Dec. Nov
P
T

July
P

Nov.
T

+ 90+ 60+ 300-30-60-

+ 90+ 60+30
0-30-60-90

+ 90'
+ 60+300'
-30
-60

+ 4'
+ 20-2-4-

1962 63

64

65

66

67 68

69

70

71

72

73

74

75 76

77

78 79

80

81

82

83

84

85 86

87

88 1989

1

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

26



OCTOBER 1987

ItCII

CYCLICAL INDICATORS
B

I

CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued

Chart B5. Inventories and Inventory Investment—Continued

800700-

mini

600500-

400-

300-

200-

110100908070605040-

30-

1.81.71.61.51.4-

260220180140-

100 -

60 J

I II
1962

63

64

65

66

67

68

69

70

71

72

73

74

75

76

77

78

79

80

81

82

83

84

85

86

87

88

1989

Current data for these series are shown on page 68.

Bill

OCTOBER 1987




2
7

CYCLICAL INDICATORS
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued
Chart B6. Prices, Costs, and Profits
Jan. Jl Jl N v
uy u y o .
P T
P
T

80-

i J W f ; & .C r oae prots after}!* h <
. op r t
(ann. rate, bil. doL) J t J |
llfltjli!
nut'
liinii
1962 63 64 65 66 67 68 69 70 71 72 73 74 75 76 77 78 79 80 81 82 83 84 85 86 87 88 1989
1

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

2

28



OCTOBER 1987 I M J P

B

CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued

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

T

P

I

| I p f to iiid ProfIt llargins—Gon>|

280240-

with IVA and CCAdj in
« dot) • — - — —

i Corporate profits
1982 dollars, Q "

- "Hi.

r«H

200160120-

80-

40 -J

Hit'

H

22. Ratio, corporate domestic profits after tax to corporate domestic
1210-

6-

81. Ratio, corporate domestic profits

I

I I pporite io^stic income, Q
15. Profits after taxes per dollar of sales, manufacturing cortx
53J

26, j p o r implicit price d i ^ p | u r t labor cost, nonfarm biis|

|ptor, Q (index:

•s mi"
102 -

100-

iiii

9896-

FlB

94500-

35. Corporate net cash flow in 1982 dollars, Q

400 -

300-

200-

100-

1962

63

64

65

66

67

68

69

74

75

76

77

78

79

80

81

82

83

84

85

86

87

88 1989

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

I » I J ) OCTOBER 1987



29

CYCLICAL INDICATORS
B

I

CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued

Chart B6. Prices, Costs, and Profits—Continued
Jan. July
P T

IB

July
P

Nov.
T

.. :H§if"
-

I I§! 1 1 Illi ;Slllli||| llllr lljilll
11

68. Labor cost in current dollars per unit

I

1962 63

64

65

66

67

68

69

70

71

72

73

74

75 76

77

78 79

80

81

82

83 84

85

86

87

88 1989

Current data for these series are shown on page 70.

30



OCTOBER 1 9 8 7

BCD

CYCLICAL
B

I

CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued

Chart B7. Money and Credit
in. July

July

Nov.

P T

P

T

+ 2.0
+ 1.6
+ 1.2
+ 0.8
+ 0.40.0-0.4'
-0.8'

(percent; MCDiii«avg.-~6*ni
+ I.6-1
+ 1.2+ 0.8+ 0.40.0-0.4-

; MCD moving avg.—6+ 1.2+ 0.8+ 0.40.0-0.470065060055050045027002500230021001900170015007.5-

107. Ratio, gross national product to money supply M l ,

m

Hli

7.06.56.05.55.01.501.45-

io, personal inconi^lfiey simply RI2 ( r a i l

1.401.351.301.251.20-

1962 63

64

65

66

67

68

69

70

7

12

73

74

75

76

77

78

79

80

81

82

83

84

85

87

88 1989

Current data for these series are shown on page 71.

K C I I OCTOBER 1987



31

CYCLICAL INDICATORS
B

I

CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued

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

T

July

Nov.

P

T

4-140 -i
+ 120+ 100+ 80+ 60- •
+ 40-;
+200-20-40-

+ 100+ 80+ 60+ 40+ 200-20-40-60-

+ 120+ 100+ 80+ 60+ 40- ,
+ 200-20-

outstanding (ann. rate, percent)

+ 30+ 20+ 100-101200-1
1000800 H
600500400300200-

100-

1962 63

64

65

66

67

68

69

70

71

72

73

74

75

76

77

78

79

80

81

82

83

84

85

86

87

88 1989

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

32



OCTOBER 1987

RCII

CYCLICAL
B

I

CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued

Chart B7. Money and C r e d i t — C o n t i n u e d

of business failures (mil. dol.

si

100'

200300
400
6008001000'
150020003000400050006000 -I

1.61.82.02.22.42.62.8-7-6-5
-4-

-2-

m

-1
0+1

1962 63

64

65

66

67

68

69

70

3

74

75

76

77

78

79

80

81

82

83

84

85

86

87

88 1989

Current data for these series are shown on page 72.

BCII

OCTOBER 1987




33

CYCLICAL INDICATORS
B

I

CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued

Chart B7. Money and Credit—Continued

1918171615141312111098765-

17161514131211-

illlllllllin

1098765-

17161514131211-

76543-

1962 63

64

65

66

67

68

69

70

71

72

73

74

75

76

77

78

79

80

81

82

83

84

85

86

87

88 1989

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

34



OCTOBER 1987

CYCLICAL INDICATORS
B

I

CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued

Chart B7. Money and Credit—Continued
Nov

Jan. July
P

T

July
P

Nov
T

212019-

1817161514131211-

IIS i l l
11 Hlli illill lillli litlii ill!
11

1098765400350300250 -

200-

150700600500-

400-

300-

200-

100 J

18161412-

1962 63

64

65

66

67

68

69

70

71

72

73

74

75

76

77

78

79

80

81

82

83

84

85

86

87

88 1989

Current data for these series are shown on page 73.

licit

OCTOBER 1987




35

CYCLICAL INDICATORS
C

I

DIFFUSION INDEXES AND RATES OF CHANGE

Chart C l . Diffusion Indexes
Dec Nov
P
T

100 n

50-

100 T

50-

50-

ion or nonsupervisory workers, 20

H

tti

it

100-1

50-

100 T

50-

o-i

100-1

50-

1962 63

64

65

66

67

68

69

70

71

72

73

74

75

76

77

78

79

80

81

82

83

84

85

86

87

88 1989

1

Beginning with data for January 1984, series 12 has been suspended from this index.
Current data for these series are shown on page 74.

36



OCTOBER 1987

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

durable goods industries
100-

50-

0-

in I | p 2 dollars,17
mmg mm**,
807060-

mmrmm/\i

50403020-

ifim®. spar*~-~, 1-mo. spit

wmmmmmmm

10C-

50-

0-

raw industrial materials
100-

50-

0-

Stock prices, 500 common stocks, 40-82 industries

100 -

50-

0-

about 600 companies1 (4-Q span)

908070605040-

1962 63

64

65

66

67

68

69

70

7!.

:\:-

•

;

h

••

87

88 1989

1

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 1987




37

CYCLICAL

C

I

INDICATORS

DIFFUSION INDEXES AND RATES OF CHANGE—Continued

Chart C l . Diffusion Indexes—Continued
Mar.

Mar.

T

T

Jan. July
P

T

July

Nov.

P

T

Actual

ftnllcipat«dili||H!
IIII mi nil

iiii'

•MH| tiring aid trade < 4 H M t t M t l l l l l

Number of emptoyee

pllSil IIII

its
in

11

m

Il

§
1

971. New orderfS | a n u f ^ i | | l 4 - - Q span)

ii
itftl

50-

40-

^^^ lraite ^*flSSflliiiiS

|jj|

i

iiiiiiiiiii

IB

706050-

iiiiiiiiiii

i : • • «mmm
| il ili 7p||fl||
v*m mmm
| • •; |i; -I i ;-;; i 9 S p i l l i||iliS|
7 /

:

80-

Wjk /^Iiiiiiiiiii
fc;
lllllflli
fti! | B /
IK

:4"--•••••;•'.•:-

:

60-

' I i illllii liliS;! :i|l|Pi:|l 1

&

t

70-

|^ll§i

f I :mwmWtMmmw^ilm9-1

40-

100 90-

:

80-

SM; Mlliifl!

70-

:: :

i • -::|l|l lllllii : - -!!!:ill ^I'S'IIIII Illiiliil f

60-

i ..••l:i:-i •:;lillil^:' •.lli;;i>:./ Ill-l;'l:l i l l l l l l l 1

fciii • • P 1 *

I - . - * ;

trade (4-Q span)1

S?2, Net profits, i i i u f a c t

;«•••

pC^spanlJIIlI 111 11II1111

Illilil
90-

Sli

::;i;l'''•'••II

. •'••-•

" •

-

9 i ! l -

v

|;;||f»

\ i i i vi:i:ii:|

•

! • L ; i ' l i l •?>''*

80-

walifii

piiB"

70-

lillHImil

I •iilli •I,!'!

iiiiii

ppf

60-

p :mm

50•:•';.•• 1

I

1

.:"!'

1

'

•'<•'•''•'.•:-':•".•','.•'

:

I ':. .;:• •'...'. :':'!;;..•.:-.;'
'

J-y^^^l..:;"!-.';-.

:

-.>S

973. Net sales, ma
nufac

•

rig (4^.Q spaij)i

7060-

r ^ ^ ^ w f

1
•

80-

•ii

••';••

'

90-

IIIiiJiiillfflH
iiiiiiiliill
8 ^Jllli
IIIIII

llitfil

%

100-

§§§! ::|| |!-|i;|; II

100-

Iliilllili

100-

;;

Iii .
|

|

:

'

:

•

90-

90-

H;.~;-Jt:: ••••.'..<

11II11IIIIII I! 11II1II1
-

1

••••'•

•iiiipiy*'!-!

! •

1-

1

•;••;(
«

•

:

•

•;%p1iiii

80-

80-

3 WW.
*** IIS

70-

hm
1975

76

p/My r
77

78

79

80

81

82

83

i il;
84

85

liilliiiililii

60-

86

1987

7060-

1975

76

77

78

79 80

81

82

83

84

85

86

1987

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




CYCLICAL INDICATORS
C

I

DIFFUSION INDEXES AND RATES OF CHANGE—Continued

Chart C3. Rates of Change

transfer payments in 1982 dollars

1962 63

64

65

66

67

68

69

70

71

72

73

74

75

76

77

81

82

83

84

85

86

87

88 1989

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.
1
Beginning with data for January 1984, series 12 has been suspended from this index.

ItCII

OCTOBER 1 9 8 7




39

OTHER IMPORTANT ECONOMIC MEASURES
NATIONAL INCOME AND PRODUCT
Chart A l . GNP and Personal Income
Dec. Nov.

P

Nov.

T

P

Mar
T

national product in 1982 dollars, Q

wmmmKtmmmmm
mmm1962 63

64

65

66

67

68

69

70

71

72

73

74

75

76

77

78

79

80

81

82

83

84

85

86

87

88 1989

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

40



•Mil

OTHER IMPORTANT ECONOMIC MEASURES
NATIONAL I N C O M E A N D P R O D U C T — C o n t i n u e d
Chart A 2 . Personal C o n s u m p t i o n Expenditures

Personal consumption expenditures—

1962

63

64

65

66

67

68

69

70

71

72

73

74

75

76

77

78

79

80

81

82

83

84

85

86

87

88

1989

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

BCII

OCTOBER X987




41

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

No*

Jan. July
P

T

July
P

Nov.
T

rate, billion dollars (current) | j
900800700-

Gross private

600500-

400-

300-

200-

+ 80+ 60+ 40+200-20-40-60-

900800700600500-

400-

300-»

+ 80+ 60+ 40-

\r

+20-

^.^rr

IB

0-20-40-60-

1962 63

64

65

66

67

68

69

70

71

72

73

74

75

76

77

78

79

80

81

82

83

84

85

86

87

88 1989

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

42



OCTOBER 1987

ItCII

OTHER IMPORTANT ECONOMIC MEASURES
NATIONAL INCOME AND PRODUCT—Continued

Chart A4. Government Purchases of Goods and Services

P

i

Annual rate, billion dollars (current))

Government purchases of goods and

[Annual rate, billion dollars (1982)

1962

63

64

65

66

67

68

69

70

71

72

73

74

75

76

77

78

79

80

81

82

83

84

85

86

87

88

1989

Current data for these series are shown on page 81.

ItCII

OCTOBER 1987




43

OTHER IMPORTANT £•• ^>- ,>/MC \ EASJRES
I A I
U

NATIONAL INCOME AND PRODUCT—Continued

Chart A5. Foreign Trade
Jan. July
F

T

July
P

Nov.
T
600550500450400350-

s7

§§

252. Exports of goods aid services, Q

TV-

300-

iiliii.

§•1
ifc||p

250200-

Misfit

150-

Imports of g o ( ^ and;
100-

250. Net exports of goods and services, Q

257. Imports of goods and services, Q

256. Exports of goodi and services, Q

255. Net exports of goods and services, Q

1962 63

64

65

66

67

68

69

7>
f

76

77

78

79

80

81

82

83

84

85

86

87

88 1989

Current data for these series are shown on page 82.

44



OCTOBER 1987

OTHER IMPORTANT ECONOMIC Ivf • .. M J •;:
IA

I

NATIONAL INCOME AND PRODUCT—Continued

Chart A6. National Income and Its Components

P i

1 rate, bilion dollars (current) 1

li
'••'• • - .

:

:

:

•

•••'

•

.

",

•

:

•

v

'

•-.

"•

•

•

••. •

•

•

.

•

•

•

-

"

;

'

'•.

••

;

.

' ' . : • • ' " "

•

'

'

S

& i $ 0

|

S

j

;

|

f

!

Si

i k

e

-llJBi

li

400035003000 -

BiBI"

SI

25002000-

National income, Q
1500 -

Comp||tion.i|^
1000400 «
360 320280240-

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

200180160140120i00»
90807060 -

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

504030-

20-

294. Rental income of persons with capital
consumption adjustment, (f|§

10-

1962 63

64

65

66

67

68

69

80

81

32

83

84

85

86

87

88 1939

Current data for these series are shown on page 82.

BCII OCTOBER 1987



45

OTHER IMPORTANT ECONOMIC MEASURES
NATIONAL INCOME AND PRODUCT—Continued
Chart A7. Saving
Jan. July
T

July

Nov.

P

T

rate, billion dollars (current)|
800700600500400-

300250-

200-

150-

10080-

60-

+ 200-

-20-40-60-80-100-120-140-160-180-200-

lO-i

42-

1962 63

64

65

66

67

68

69

70

71

72

73

74

75

76

77

78

79

80

81

82

83

84

85

86

87

88 1989

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

46



OCTOBER 1 9 8 7

IECII

OTHEf* • "• jA

I

i

,v)AfliC MEASURES

NATIONAL INCOME AND PRODUCT—Continued

Chart A8. Shares of GNP and National Income
Jan. July
P T

July
P

Nov.
T

{Percent of GNP I
70-t

235. Personal consumption expenditures, Q

65-

60 J

268. State and focal government pu
of goods and services, Q

15-i

265. Federal Government purchases of goods and services, Q

10-

248. Nonresidential fixed investment, Q
5-

0-

247. Change in business inventories, Q

251. Net exports of goods and
-5-

I Percent of National Income!
80 T

64. Compensation of employees, Q
75-

70-

65-

15-i

uorporaie proms oerore tax witn inventory valuation
and capital consumption adjustments, Q

10-

5-

289. Net interest, q
0 J

285. Rental income of persons with capital consumption adjustment, Q
1962

63

64

>r\

f

>r

79

80

81

82

83

84

85

86

87

88 1989

Current data for these series are shown on page 83.

BCII

OCTOBER 1987




47

OTHER IMPORTANT ECONOMIC MEASURES
B

I

PRICES, WAGES, AND PRODUCTIVITY

Chart B l . Price Movements
Jan. July
P T

Mar.

July
P

Jan. July
P T

Nov.
T

ii i

76

77

78

79

80

81

82

Nov.
T

81

82

itliiitiis

t

1975

July
P

iiiiii

83

84

85

86 1987

130-1
120110100-

1975

76

77

78

79

80

83

84

85

86 1987

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




OCTOBER 1987

BCD

OTHER IMPORTANT L ONOMIC MEASURES
C
B

I

PRICES, WAGES, AND PRODUCTIVITY—Continued

Chart B l . Price Movements—Continued
Jan. July
P T

July
P

Nov.
T

81

82

Consumer price indexes—

Chart B2. Wages and Productivity

340. Average hourly earnings of proaucwn or
on private nonagricultural pa

1962 63

64

65

66

67

68

69

70

71

72

73

74

75

76

77

78

79

80

83

84

85

86

87

88 1989

1

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

BCII

OCTOBER 1987




49

OTHER IMPORTANT ECONOMIC MEASURES
B

I

PRICES, WAGES, AND PRODUCTIVITY—Continued

Chart B2. Wages and Productivity—Continued
Dec.
P

Nov.
T

workers on private MHagricuUiralinlyrolls1—

Negotiated wage and benefit decisions

lPercentchang<!'

348. Average first-year changes, Q (ann. rate)

urn

r, all persons, business sector, Q

1962 63

64

65

66

1

67 68

69

70

71

72

73

74

75

76

77

73 79

80

81

82

83

84

85

86

87

88 1989

2

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

50



OCTOBER 1987 B C D

OTHER IMPORTANT ECONOMIC MEASURES
LABOR FORCE, EMPLOYMENT, AND UNEMPLOYMENT
Chart C l . Civilian Labor Force and Major Components
Jan. July

July

P T

P

80

81

Nov.
T

Civilian labor force participation rates (percent)

1962

63

64

65

66

67

68

69

70

71

72

73

74

75

76

77

78

79

82

83

84

85

86

87

88 1989

Current data for these series are shown on page 89.




51

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

Annual rate, billion dollars (ciirrent)j|

. Federal Government surplus or deficit, Q

p

and local government expenditures, Q

1962 63

64

65

66

67

68

69

70

71

72

73

74

75

76

9

80

81

82

83

84

85

86

87

88 1989

Current data for these series are shown on page 90.

52



OCTOBER 1987

KCII

OTHER IMPORTANT ECONOMIC MEASURES
GOVERNMENT ACTIVITIES—Continued
C h a r t D 2 . Defense Indicators

40

T

35302520-

gross obligations incurred
ng avg.~6-term)

15-

22201816141210-

Department prime contract awards
bil.dol.;MCD
6J

240-i
220200180160140120100 -

141210-

6-

jw orders, defense products
MCD moving avg.—6-term)

2 J

1962 63

64

65

66

67

68

69

70

86

37

88 1989

Current data for these series are shown on page 90.

Bill OCTOBER 1987



53

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

Dec. Nov.

1962 63

64

65

66

67

68

69

70

71

72

73

74

75

76

77

78

79

80

July
P

Nov.
T

81

82

83

84

85

86

87

88 1989

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

54



OCTOBER 1987

OTHER IMPORTANT ECONOMIC MEASURES
I£) I

GOVERNMENT ACTIVITIES—Continued

C h a r t D 2 . Defense I n d i c a t o r s — C o n t i n u e d

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

1962

63

64

65

66

67

68

69

70

71

72

73

74

75

76

77

78

79

80

81

82

83

84

85

86

87

88

1989

Current data for these series are shown on page 91.

inn

OCTOBER

1987




55

OTHER IMPORTANT ECONOMIC MEASURES
E I

U.S. INTERNATIONAL TRANSACTIONS

Chart El. Merchandise Trade
Jan. July
P

T

11.

July

Nov.

P

T

#tf
2520-

151096543-

2-

604. Exports of domestic

iiimii
40353025-

1510987654-

2-

1-

0.80.60.4-

0.2-

1962

63

64

65

66

67

68

69

70

71

72

73

74

75

76

77

78

79

80

81

82

83

84

85

86

87

88 1989

Current data for these series are shown on page 92.




APTADCD

1007

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

Chart E2. Goods and Services Movements
an July
P T

July
P

Nov.
T

81

82

cess of receipts
cess of payments
Goods and $ir#es—

1962 63

64

65

66

67

68

69

70

71

72

73

74

75

76

77

78

79

80

83

84

85

86

87

88 1989

Current data for these series are shown on page 93.

RCII

OCTOBER 1987




5
7

OTHER IMPORTANT ECONOMIC MEASURES
INTERNATIONAL COMPARISONS
Chart F l . Industrial Production
Jan. July
P T

Mar.
T

July
P

Mar.
T

Nov.
T

Jan. July
P T

July
P

Nov.
T

1977^1001
Industrial production—

Industrial production—

140130 -

130-

721. OECD European countries

120-

120-

110-

110-

100 -

100-

90

90-

160'
150

130 - .

140'

728. Japan •

120

130'

mm

120

-

110100 -

110'
90-

10090-

130130-

110100-

120-

M

120-

110100-

1

90-

90-

140 -

^
^
^

130-

w

120110-

WIM

120 -

7

100-

110100 -

90-

1975 76

77

78 79

80

81

82

83

84 85

86 1987

90-i

1975 76

77

78

79 80

81

82 83

84

85

86 1987

Current data for these series are shown on page 94.




•Mil

OTHER IMPORTANT ECONOMIC MEASURES
F

INTERNATIONAL COMPARISONS—Continued

Chart F2. Consumer Prices

Chart F3. Stock Prices
Jan. July
P T

July
P

Nov.
T

iiii
iiiiiii II

IpHj illlilj il|3SMitt:pii

ilaiitiiiiili Ii'IPS w:M if "Jm

Warn

100-1
1975 76

77

78

79

80

81

82

83

84

85

86 1987

1975

76

77

78

79 80

81

82 83

84

85

86 1987

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

KCII

OCTOBER 1987




59

CYCLICAL INDICATORS
A

I

COMPOSITE INDEXES AND THEIR COMPONENTS

0 1

Year
and
month

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

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

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

COMPOSITE INDEXES

940. Ratio,
coincident index
to lagging index2
914. Capital
investment
commitments
(series 12, 20,
29) 2

(1967 = 100)

(1967 = 100)

(1967 = 100)

Revised 3

(1967 = 100)

Leading indicator subgroups

915. Inventory
investment and
purchasing
(series 8, 32, 36,
99)2

916. Profitability (series
19, 26, 80)

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

Revised 3

(1967 = 100)

(1967 = 100)

(1967 = 100)

(1967 = 100)

1985
January
February
March

165.5
166.5
167.2

158.4
159.0
159.3

131.6
131.9
132.9

120.4
120.5
119.9

109.2
111.0

April
May
June

165.9
166.9
167.3

160.5
160.2
159.5

133.3
134.9
134.9

120.4

July
August
September

168.5
169.3
170.2

159.7
160.9
160.9

October
November
December

171.2
171.1
174.0

January
February
March

110.8

102.6
102.5
102.0

113.1
114.1
114.2

139.0
138.6
138.9

118.8
118.2

110.0
109.7
110.1

101.8
101.6
101.5

114.5
115.0
115.8

137.1
135.9
135.6

135.3
135.6
137.1

118.0
118.7
117.4

110.5
110.6
111.2

101.5
101.5
101.6

116.7
116.9
115.6

137.7
139.0
140.0

160.8
161.6
163.0

138.5
138.5
139.5

116.1
116.7
116.8

110.3
109.5
110.5

102.1
102.3
102.7

114.8
114.9
116.5

141.1
140.6
141.9

174.1
175.0
176.4

162.9
163.4
162.9

140.5
141.1
142.3

115.9
115.8
114.5

108.9
110.2
109.9

103.3
103.3
103.5

117.3
119.0
119.8

142.2
140.3
140.0

April
May
June

178.1
178.5
178.3

165.6
164.3
163.7

140.5
141.4
141.6

117.9
116.2
115.6

110.4
109.5
109.6

103.8
103.5
103.0

119.9
119.7
120.4

140.3
142.4
142.6

July
August
September

179.9
180.3
179.9

164.4
164.8
165.8

141.8
142.2
141.6

115.9
115.9
117.1

109.8
108.8
108.9

103.3
102.9
102.8

120.0
120.4

144.9
145.6
145.5

October
November
December

181.2
182.7
186.6

rl65.4
165.8
rl67.4

143.7
143.4
142.4

115.1
115.6
117.6

108.4
108.6
111.0

102.8
103.6
rlO4.9

117.8
117.4
117.9

rl46.8
0>rl49.2

165.6

108.9
(NA)

rlO4.3
104.4
rlO5.O

119.3
120.8
0)121.5

rl48.8
rl46.3
144.0

121.2
121.1
(NA)

142.5
141.9
rl43.7

1986

118.9

rl47.3

1987
January
February
March

rl85.8
rl87.5

rl68.1
rl67.9

0)144.6
142.4
141.5

114.5
118.0
118.7

April
May
June

rl87.8
188.9
190.8

rl67.9
167.5
rl67.9

141.9
141.9
141.9

118.3
118.0
118.3

105.0
rlO5.9
106.7

rl91.5
0)192.6
5
192.5

rl69.1
169.4
0) 169.7

141.3
141.2
142.9

119.7
120.0
pll8.8

rlO7.2
rlO6.5
plO7.4

July
August
September

185.4

6

7

rl42.9
pl43.8
(NA)

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 0 ) ; for series that move counter to movements
in general business activity, current low values are indicated by 0 ) . Series numbers are for identification only and do not reflect series relationships or order. Complete titles and sources are listed at the back
of this issue. The "r" indicates revised; "p", preliminary; "e", estimated; "a", anticipated; and "NA", not available.

Graphs of these series are shown on pages 10 and 11.
'Beginning with data for January 1984, series 12 has been suspended from this index. 2The following series reached their high values
before 1985: series 940 (130.0) in January 1984, series 914 (111.5) in February 1984, and series 915 (107.9) in April 1984. 3See "New
Features and Changes for This Issue," page iii. ''See "New Features and Changes for This Issue" on page iii of the March 1987 issue.
5
6
Excludes series 36 and 111, for which data are not available.
Excludes series 57, for which data are not available.
'Excludes series
77 and 95, for which data are not available.

60




OCTOBER 1987

CYCLICAL INDICATORS
B

CYCLICAL INDICATORS BY ECONOMIC PROCESS

MAJOR ECONOMIC
PROCESS

Q

|

EMPLOYMENT AND UNEMPLOYMENT

Minor Economic
Marginal Employment Adjustments

Process

Tsming Class .

L, C, L

L.L.L

Comprehensive

iob Vacancies

Employment

L, tfc U

l.C.L

U, C. C

1. Average weekly hours

5. Average weeSiy initial

60. Ratio, help-wanted

46. ftrfex of tiglp-wante<5

48. Employes horns m

time hours of production

claims for unemployment

advertising in newspapers

advertising in newspapers

nonagriculttiral estab-

visory workers, manufac-

or nonsupervisery workers,

insurance, Staie programs'

to number of persons

turing

Year

21. Average weekly over-

Gf production or nonsuper-

manufacturing

lishments

unempioyed

and
month
(Ann. rate,
(Hows)

(Horns)

(1967-100)

(Ratio)

(Thous.)

bil. hours)

1985

40.5
40.0
40.5

3.3
3.3
3.2

378
402
389

0.490
0.501
0.502

140
141
141

180.12
179.92
181.32

40.3
40.4
40.5

3.3
3.1
3.2

387
383
392

0.470
0.474
0.500

132
132
141

181.01
181.68
181.97

40.5
40.6
40.7

3.2
3.3
3.4

381
375
381

0.497
0.490
0.491

141
134
136

181.82
182.41
182.86

40.7
40.7
40.9

3.3
3.4
3.6

367
371
391

0.503
0.524
0.527

140
144
145

184.16
183.90
184.20

40.8
40.6
40.7

3.5
3.4
3.4

375
393

0.538
0.498
0.490

143
142
138

184.62
184.05
184.41

40.7
40./
40.6

3.4
3.5
3.4

374
378
378

0.472
0.452
0.500

132
128
141

184.84
184.90
184.64

40.6
40.8
40.8

3.5
3.5
3.5

370
379
369

0.506
0.495
0.485

140
234
135

184.97
185.55
185.84

40.7
40.8
40.8

3.5
3.5
3.6

343
342
356

0.510
0.530
0.539

141
247
144

186.20
186-86
186.87

40.9

E>41.1
40.9

3.6
3.6
3.6

359
361
341

0.527
0.549
0.568

142
147
150

187.64
188.94
188.71

June . . .

40.6
41.0
41.0

3.5
3.8
3.7

324
326
327

0.571
0.568
0.635

144
144
155

187.7?
189.69
189.41

July
August
September

41.0
41.0
p40.4

3.8

JH}3.8
p3.6

327
297

[H>0.651
0.639
p0.646

H>158
155
pl54

rl89.97
H>rl90.69
p!86.86

January

.

..

February
March

. .

April .
May
June

. . . .
..

July
August .
September
October .
November
December

.

1986
January
February

. ..

March
April . .
May
June

. ..

July
August
September

. ..

Gctohnr
November
December

. .

.

1987
January
February
March
April
May

tf) 286

October
November
December

See note on page 60.
Graphs of these series are shown on pages 12, 16, and 17.

'ttafd exclude Puerto Rico, which js included in figures

ltd)

OCTOBER 1987




published by the source agcnc>

61

CYCLICAL INDICATORS
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued

MAJOR ECONOMIC
PROCESS

H I

EMPLOYMENT AND UNEMPLOYMENT-Contmued

Mmor Economic
Comprehensive Unemployment

Comprehensive Employment—Continued

Process

liming Class

U.C.C

42. Num&es
of persons
engaged in nortagricultural
activities

Year
and
month

(Thous.)

c,c,c
41. Employees
on nonagricultural payrolls

(Thous.)

L, C, U

40. Employees
on nonagricultural payrolls,
goodspforjucing
industries

(Thous.)

U, Lg, U

30. Safe,
civilian employment to population of
working age

(Percent)

L, Lg. U

L, Lg, U

37. Number of
persons unemployed

43, Unemployment rate

{Thous.)

(Percent)

Lg, Lg, Lg

45. Average
weekly insured
unemployment
rate, State
programs *

(Percent)

9 1 . Average
duration o(
unemployment

(Weeks)

g, Lg,

44. Unemployment rate,
persons unemployed 15
weeks and over.

(Percent)

1985
January
February
March . . . . . .

102,979
103,269
103,676

95,364
96,512
96,880

0)24,993
24,926
24,977

59.18
59.31
59.46

8,506
8,365
3,351

7.4
7.3
7.2

2.9
2.9
2.9

15.9
15.9
16.2

2.0
2.1
2.1

April

103,612
103,719
103,403

97,058
97,299
97,409

24,943
24,901
24,852

59.41
59.39
59.08

8,364
8,291
8,385

7.3
7.2
7.3

2.8
2.8
2.8

16.4
15.3
15.5

2.1
2.0
2.0

103,711
104,030
104,558

97.572
97,785
97,968

24,812
24,799
24,752

59.19
59.30
59.50

8,438
8,141
8,242

7.3
7,1
7.1

2.8
2.8
2.8

15.5
15.3
15.3

2.0
2.0
2.0

104,720
104,923
104,998

98,230
98,445
98,658

24,782
24,784
24,799

59.55
59.60
59.64

8,288
8,171
8,184

7.1
7.0
7.0

2.7
2.8
2.8

15.3
15.6
15.2

2.0
1.9
1,9

105,612
105,452
105,555

98,776
98,914
99,013

24,821
24,768
24,711

59.86
59.63
59.71

7.902
8,485
3,380

6.8
7.2
7.2

2.8
2.8
2.8

15.0
15.2
14.6

2.0
1.9

....

105,770
106,014
106,449

99,252
99,389
99,323

24,770
24,708
24,628

59.75
59.80
59.99

8,323
8,422
8,392

7.1
7.2
7.1

2.8
2.8
2.8

14.7
14.8
15.2

1.8
1.9
1.9

.

106,763
107,010
105,845

99,601
99,772
100,039

24,628
24,639
24,620

60.08
60.12
60.02

8,230
8,057
8,285

7.0
6.8
7.0

3.0
2.9
2.8

15.1
15.6
15.5

1.9
1.9
2.0

107,030
107,217
107,475

100,209
100,415
100,567

24,611
24,630
24,630

60.07
60.14
60.19

8,222
8,243
7,949

6.9
6.9

6.7

2.7
2.7
2.6

15.2
14.8
15.0

1.8
1.9
1.8

107,866
108,146
108,084

100,919
101,150
101,329

24,708
24,743
24,749

60.30
60.45
60.38

8,023
7,967
7,854

6.7
6.7
6.6

2.6
2.6
2.6

15.0
14.6
14.9

1.8
1.8
1.7

108,545
109,112
109,079

101,598
101,708
101,818

24,759
24,752
24,761

60.58
60.86
60.70

7,500
7,546
7,260

6.3
6.3
6.1

2.4
2.4
2.4

14.9
14.9
14.8

1.7
1.8
1.7

109,508
©109,989
109,602

rlO2,U6
rlO2,278
g)plO2,410

Y-24,850

SO. 89
©61.04
60.82

7,224
7,221
1)7,089

6.0
6.0
H>5.9

2.a
2.3

H)H.O

1.6
1.6
|H)l-6

May . . .

. .

June
July
August
September
October .
November
December

.
.

..

.

1986
January
February
March

....

April
May
June .
July
August
September

...

Gttotec
November
December

1.8

1987
January
February
March

....

April
May
June
July
August
September

r24,885
p24,912

E>2.2

14.3
1.4.2

October
November
December

See note on page 60.
Graphs of these series are shown an pages IA, 15, 17, and I S .

'Data exclude Puerto Rico, which i s included in figures published by the source agency.




OCTOBER 1987

BO»

CYCLICAL INDICATORS
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued

H

MAJOR ECONOMIC
PROCESS

PRODUCTION AND INCOME

Minor Economic
Comprehensive Output and

Process

Timing Class

ccc

cc.c

50. Gross national product

CCC

CC.C

ccc

c.cc

51. Personal

53. Wages and

4?. Index of

income less

salaries in 1982

industrial

dollars, mining,

production

52. Constant

ments in 1982

mfg., artd con-

(1982) dollars

dollars

struction

income

223. Current
dollars

and

Industrial Production

transfer pay-

Persona

m 1982 dollars
Year

ncome

73. Index of
industrial
production,
durable manufactures

CU

74. Index of
industrial
production,
nondurable
manufactures

ccc

49. Value of
goods output
in 1982 dollars

month

(Ann, rate,
bil. dol.)

(Ann. rate,

(Ann. rate,

•I Ann. rate,

(Ann. rate,

bti, dol.)

bil. dol.)

bil. dot,)

bil. doi.)

(Ann. rate,

(19/7-100)
Revised

1985

!

(1977-100)

(1977-100)

Revised *

Revised1

bil. dol.)

3,568.7

3,234.2
3,263.2
3,280.1

2,945.5
2,963.9
2,963.1

2,509.2
2,525,2
2,525.0

539.9
536.6
538.7

122.4
122.9
123.3

126.3
126.4
127.5

122.3
122.8
123.2

1,537.0

3,587.1

3,305.5
3,294.2
3,313,3

2,980.6
2,957.1
2,966.2

2,542.4
2,520.4
2,530.4

537.5
537.9
538.4

123.1
123.7
123.5

127.4
128.0
127.5

123.4
124.4
124.2

1,540.7

3,623.0

3,325.8
3,337.0
3,351.7

2,972.1
2,976.8
2,979.3

2,529.5
2,538.6
2,540.5

537.3
539.7
539.7

123.4
124.1
124.4

127.4
128.5
127.8

124.4
125.0
126.1

1,557.7

3,650.9

3,381.6
3,394.9
3,442.7

2,995.2
2,996.4
3,027.9

2,556.3
2,557.9
2,589.8

543.3
540.0
541.7

123.7
124.8
125.4

127.4
128.7
128.7

125.3
126.5
127.1

1,558.9

3,698.8

3,444.4
3,463.8
3,482.1

3,021.4
3,051.8
3,073.3

2,576.6
2,604.2
2,622.7

540.1
539.2
542.1

126.4
125.5
123.9

129.B
128.9
127.4

128.6
128.2
127.3

1,589.5

3,704.7

3,525.8
3,525.9
3,528.1

3,111.9
3,103.8
3,094.8

2,660.2
2,650.4
2,641.8

544.3
543.7
539.7

124.7
124.3
124.1

128.5
127.7
126.9

128.9
129.7
130.2

1,594.4

3,718.0

3,540.3
3,552.9
3,567.5

3,102.8
3,103.0
3,104.9

2,642.4
2,647.4
2,648,8

540.2
542.0
539.8

124.8
124.9
124.5

128.1
127.9
228.4

130.6
131.1
130.3

1,593.7

3,731.5

3,577.5
3,590.3
3,613.0

3,108.2
3,116.6
3,130.8

2,651,5
2,659.7
2,673.3

H)S44.9
541.1
540.2

125.3
125.7
126.8

128.6
129.0
129.7

131.2
131.7
133.4

1,602.6

3,772.2

3,631.5
3,671.2
3,683.4

3,117.2
3,143.2
3,137.5

2,660.3
2,685.5
2,682.4

540.1
538.7
537.8

126.2
127.1
127.4

129.3
130.8
131.5

132.7
132.9
133.7

1,626.0

3,795^3

3,701.9
3,708.5
3,715.3

3,139.9
3,132.2
3,127.4

2,684.1
2,671.5
2,671.4

534.2
535.1
533.7

127.4
128.2
129.1

130.9
131.4
132.0

134.6
135.7
136.9

1,638.2

U>p3.831.2

r3,737.2
r3,?58.2
(H}p3,?S3.6

r3,143.1
r3,H7.6
H)p3,153.0

r2,684.6
r2,691.0
[H>p2,69S.l

r532.6
r534.7
P536.8

130.6
131.0
|H>pl31.Z

133.4
134.2
g>pl34.3

138.4
138.6
(H>pl38.7

!H)pl,658.3

January
February
March
Afjrr!
May
June
July
Aiigusl
Septfiniier
October
November
Decesnber
1986
January
February
March
April
May
luns
July
August
September
October
November
December
1987
January
February
Maids
April
May
June
July
August
September
QcUiber
November
December

Sse nols OP psge 60.
Graphs of these series are shown on pages 14, 19, 26, and 40.

' S c f ".New i ; e ; i U L r e s a n d C h a n g e s f o r T h i s

OCTOBER 1987




I s s u e , " page i i :

63

CYCLICAL INDICATORS
B

I

CYCLICAL INDICATORS BY ECONOMIC PROCESS—Conttnued

• H
Mm

MAJOfi tCGNOIVtlC
PROCESS . . .

11

PRODUCTION AND
INCOME—Conttfmed

CONSUMPTION, TRADE, ORDERS. AND DELIVERIES

Minor Economic
Orders and Deliveries

Capacity Utilization

Process

Timing Oass

L, C. U

82 Capacity
utilization rate,
manufacturing

L. L, L

LC.U

84. Capacity
utiiizaticn rate,
materials1

L. LL

Manufacturers' new orders,
durable goods industries

Year

7 Constant
(19S2) dollars1

6 Current

and

dollars

month

L LL

8. Manufacturers' new
orders in 1982
dollars, consumer goods
and materials

L, L, L

25 Change in
manufacturers'
unfilled orders,
durable goods
industries !

L U, U

96. Manufacturers' unfilled
orders, durable
goods industries

L, L. i.

32 Vendor
performance,
companies receiving slower
deliveries *'(u)
(Percen!

(Percent)
Rev i s e d 2

(Percent)

{Bsi. dol.)

(8il. dol.)

(Bsl. doi.)

(Bil. dol.)

(Bil. doi.)

reporting)

Revised*

1985

80.0
80.0
80.3

81.2
Sl.l
81.0

98.98

98.44
97.45

93.47
92.87
91.85

81.30
78.95
78.43

1,64
0.74
-1.16

356.76
357.49
356,33

47
48
46

80.2
80.5
80.0

SO. 5
80.2
80.2

96.25
98.26
102.64

90.71
92.26
96.29

78.58
79.28
78.21

-1.64
-0.13
4.37

354.70
354.57
358.93

44
44
44

79.3
80.2
80.1

79.8
79.8
79.9

98.44
101.20
101.74

92.17
94.75
95.53

78.11
78.86
79.95

1.02
1.61
2.65

359-95
361.55
364.21

44
42
42

79,5
80.2
80.1

79.5
79.5
30.2

101.71
95.59
104.14

95,15
89.33
97.24

80.03
80.08
79.66

0.41
-5.15
3.56

364.61
359.47
363.03

46
42
46

80.7
80,2
79.2

BO. 5
79.8
78.5

99.02
101.26
100.94

92.63
94.73
94.33

81.47
80.64
79.01

0.63
2.18
3.23

363.66
365.84
369.06

46
48
50

79.9
79.6
79.3

78,7
78,3
78.0

98.18
97.30
97.90

91.58
90.68
91.24

80.92
78.79
80.24

-2.76
-1.32
-1.70

366.30
364.98
363.28

50
55
50

78.1
77.9
77.7

99.68
r96.30
rlO3.O3

92.81

September

79.7
79.6
79.4

r89.58
r95.66

79.02
r79.94
r82.55

-0.03
r-1.88
r2.30

363.24
r361.36
r363.66

54
51
52

October
November
December

79.5
79.6
80.2

77.9
78.5
79.1

rl00.94
100.66
105.97

r93.38
92.94
97.75

r81.28
79.56
85.30

r-0.59
0.44
-0.77

363-08
363-52
362-74

54
56
56

79.6
80.0
80.3

78.7
78.7
78.7

95.54
101.93
106.21

87.98
94.03
97.71

80.52
84.70
E>85.69

-3.77
-1.67
1.46

358.97
357.30
358.76

55
52
55

80.2
80.4
80.8

79.1
79.3

79.8

106.98
106.99
109.18

98.32
r98.16
100.17

84.14
r83.75
35.38

4.23
4.52
4.70

363.00
367.51
372.22

57
60
57

81.5

80.4
80.8
p80.8

[fi>109.21
rlO6.62
plO7.80

r99.83
r97.19
p97.65

r84.02
r83.64
P85.31

r6.18
r2.52
pO.54

r378,40
r380.91
B>P381.45

62
60
69

February
March

May
June
iisly
August
September .
Qcioher
November
December

1300
January
February
March
April
May
June
July
August

1987
January
February
March
Apiii
May

....

June

..

July
August
September

"p81.5

October
November
December

. .

See note on page 60
Graphs of these series are shown on pages 12, 20, and 2 1 .

"The following series reached their high values before U)SS:
(9.80) in March 1984, and series 32 (72) in March 1984.
*See "New Features and Changes for This Issue/' page iii.

64




scries 84 (82.8) in August 1984, series 7 (100.61) in March 1984, scries 2S

OCTOBER 1987

CYCLICAL INDICATORS
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued

E

MAJOR ECONOMIC
PROCESS . . .

| CQNSUWim. 1RADE, omRS, AND

Minor Economic
Process . . .
C, C.C

c, c, c

Manufacturing and trade sales
58. Current
doffars

(Mil. do!.)

57, Constant
(198Z) dollars

(Mil. dol.)

C, L, C

75. Index of
industrial
production,
consumer
goods

(1977-1G01

C, L. U

U. L, U

Sales o retail stores
f
54. Current
dollars

(f#i. dol.)

FIXED CAPITAL

WES7MENT

Formalion of Bustness Enterprises

Consumption and Trade

Timing Class

Year
anrf
month

Wm

lil

mmmS-Contmtie
d

59. Constant

L, C, C

55. Personal
consumption
expenditures,
automobiles

L, L. i.

58. Index of
consumer
senUment1^

L.L.L

12. Index of
net business
formation

L.L.L

13. Number of
new business
incorporations

(1982) dollars

(Mil. dol.)

(Ann. rate,
bil. dol.)

ilstQ
1966 = 100)

(1967 = 100)

(Number)

Revised*
1985
January
Febtuaff
March

410,285
413,449
417,197

399,063
401,841
403,012

117.8
118.7
119.2

110,569
111,839
112,500

104,606
105,409
105,535

115.9

96.0
93.7
93.7

121.2
122.1
121.4

52,328
53,086
54,574

April
May

419,063
420,705

416,284

118.2
119.5
119.3

114,511
114,504
214,263

107,220
107,213
106,394

ns'.o

jyns

405,564
407,873
402,381

94.6
91.8
96.5

120.8
120.4
120.4

54,690
55,394
54,313

iuiy
August
September

415,616
422,298
423,010

404,125
411,182
411,084

119.3
120.7
120.8

115,185
116,904
119,091

107,750
109,256
111,300

133'.7

94.0
92,4
92.1

121.5
121.2
120.7

54,558
55,843
56,180

October
November
December

421,003
425,318
427,016

409,171
411,573
409,028

120.4
121,7
122.0

115,711
116,412
117,389

108,040
108,190
108,794

117.8

88.4
90.9
93.9

121.2
120.4
119.9

57,644
56,570
57,583

January
February
March

424,035
419,569
415,705

411,322
411,123
409,587

123.6
122.9
121.4

118,393
117,590
117,259

109,421
109,692
110,310

122.4

95.6
95.9
95,1

119.3
120.8
121.5

57,636
59,114

April

421,276
417,493
422,031

418,962
413,181
415,160

123.8
123.8
123.7

118,113
119,507
119,605

111,744
112,530
112,411

126'. 2

96.2
94.8
99.3

122.4
120.7
120.3

59,156
57,747
57,446

July
August
September

421,167
r423,O40
r43S,061

419,079
r420,822
r432,158

125.0
123.6

120,478
rl21,735
rl29,118

113,125
rl!3,877
[H)rl20,llG

E> 151.3

97.7
94.9
91.9

120.7
119.3
120.4

57,618
56,299
57,942

October
November
December

430,012
429,944
443,766

423,892
423,849
433,476

124.8
125.0
126.6

122,121
121,678
127,613

113,919
113,400
118,160

141'.3

95.6
91.4
89.1

119.7
118,3
121.9

57,081
56,656
[R>65,692

425,080
443,169
445,032

418,148
iH)434,102
431,517

125.5
126.4
126.7

118,579
124,280
124,593

109,189
113,914
113,576

117^5

March

90.4
90.2
90.8

118.0
121.0
123.3

55,014
59,385
60,920

May
June

444,357
446,282
451,734

429,929
428,826
430,617

125.5
127.3
127.2

124,960
124,867
126,307

113,497
112,798
113,688

125.1

92.8
91.1
91.5

121.9
rll9.3
rI19.5

58,252
56,109

r452,652
iH)p458,653
(NA)

r432,550
p432,842
(NA)

129.2
[RH29.3
p!28.9

rl27,061
iH)fl29,2S7
p!28,760

rl!4,263
rll5,831
pl!4,964

93.7
94,4
93.6

119,2
rl20.9
!H)pl23.9

(NA)

pi 43.8

1986

May
June

1987
January

ksly
August
September
October
November
December
See note on page 60

Graphs of these series are shown on pages 14, 22, and 23.
S e r i e s 58 n i c h e d i t s h i g h v a t u u ( 1 0 1 . 0 ) i n M a r c h H>K4.
S e e "Sew i : c ; i t u r c s and Changes f o r T h i s I s s u e , " p a g e l i t .

2

KOI OCTOBER 1987




65

CYCLICAL INDICATORS
B

I

CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued

MAJOR ECONOMIC
PftOCiSS

^

..

J

fiXED WPiTftL INVESTMENT—Continued

Minor Economic
Busmess Investment Commitments

Process

Iimtng Clau

L. L, L

L.L.I

Contracts and orders for
plant and equipment
Year

30. Current

and

20. Constant
(1982) dollars

L, L, L

Manufacturers' new orders,
nondefense capital goods industries
24. Current
dollars

11. Constant

(Bil. dol.)

(Bil.dol.)

U, Lg. U

9. Construction contracts awarded for
commercial and industrial buildings1

(1SS2) dollars

Square feet of
floor space

(Bil.dol.)

(Millions)

month

(Bii. dol.)

L.C, U

L.L.L

Square meters of
floor space !

(Millions)

11. Newly
approved capital
appropriations,
1,000 manufacturing corporations3
(Bit. dol.)

C. Lg. Lg

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

(Bil. dol.)

1985

29.12
33.44
32.62

30.08
37-25
34.76

24.58
29.00
27.58

26.01
33.17
30.13

81.14
82.4.8
87.41

7.54
7.66
8.12

29.94

29.87
30.48
S I . 92

31.29
32.71
34.04

25.05
25.39
27.32

26.88
28.08
29.88

91.95
83.99
69.68

8.54
7.80
5.47

27.56

31.44
31.65
33.35

33.79
34.41
35.84

26.19
27.00
28.10

29.04
30-21
31.10

91.89
91.41
8)93.19

8.54
8.49

fi}8.66

33.94
29.86
34.46

36.97
32,59
37.00

28.42
25.00
29.89

32.01
28.22
32.90

92.00
92.61
79.23

8.55
8.60
7.36

27.19

29.25
32.76
30.99

30.77
36.35
33.44

24.96
27.66
26.61

26.92
31.78
29.53

70.66
78.41
69.96

6.56
7.28
6.50

23.39

30.06
29.69
30.70

32,22
32.59
33.93

25.36
25.43
25.85

28.05
28.80
29.64

84.26
76.71
75.88

7.83
7.13
7.05

19.99

31.07
r29.93
r32.07

34.77
r33.69
r34.78

26.40
r25.34
r27.18

30.63
r29.63
r30.47

73.10
79.09
80.82

6.79
7.35
7.51

20.20

September
October
November
December

r31.96
31.62
34.03

r34.83
34.91
37.39

27.30
29.31

r31.05
31.06
33-20

71.77
85.41
78.29

6.67
7.93
7.27

22.10

30.73
30.85
32.19

32.89
33.67
35.09

26.78
26.86
27.40

29.39
30.15
30.89

83.02
70.82
76.02

7.71
6.58
7.06

21.44

32.80
33.96
35.55

r36.28
r37.5I
r38.59

28.31
30.03
29.99

32.33
34,07
33.72

77.91
75.12
85.27

7.24
6.98
7.92

p26.24

0)36.90
r34.76
P34.32

JH)r40.74
r38.33
P38.04

©31.98
r29.52
P29.15

E>r3S.S7
r33.78
P33.56

84.21
86.10
88.77

7.82
8.00
8.25

(NA)

January
February
March
April
May

July
August
Septembej
OciGber
November
December

99.35

[H>99'.88
24.17
97.18

94.58

1986
January
February
March
Aprsl
May
June
July
August

T27.7O

92.22

85.77

80.71

69.72

1987
January
February

.

March
April
May
June

July
August
September .
October
November
December .

69.17

p71.87

(NA)

. .

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

'This is ; copyrighted series used by permission; it may not be reproduced without written permission from McGraw-Hill Information Sysi
tems Company, F. W. Dodge Division.
'Converted to metric units by the Bureau of Economic Analysis,
\Series II reached its high value (34.12) li\ 2d quarter 1984.

Rfi



OCTOBER 1987 I M .

CYCLICAL INDICATORS
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued

MAJOR ECONOMIC
PROCESS
Minor

| U

FIXED CAPITAL NVESTMENT-Con nued

Economic

fesidential Construction
ComrnitrnenEs and Investment

Business Investment Expenditures

Process

Jumag Ciass

C Lg. Lg

c. Lg. y

C Lg, Lg

Expenditures for new plant
and equipment

69. Machine^
and equipment
sales and

Veaf

61. Current
dollars

and

100, Constant
(1982) dollars

month

(Ann. rate,
bsl. do!.}

(Ann. rate,
bil. doi.)

trCiSffTSSS
construction
expenditures
(Ann. rafe,
bil. doL)

c, u c

76. Index of
industrial production, business equipment

Gross private nonrestdentiaf
fixed investment in 1982 dollars
86. Total

(Ann. rate,

(1977-100)

CU.C

hi. dol.)

87, Structures

(Ann. rate,
bil. dol.)

L, L, L

28.fewprivate housing
units startedI

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

(Ann. rate.
thous.)

L.L.L

i.L.L

29. index of
new private
housing units
authored by
local building
permits1

89. Gross private residential
fixed investment
in 1982 dollars

(1967-100)

(Ann. rate,
bit. dol.)

Revi set)2
1985

375.33

377.91

377.04
391,20
404.77

138.2
138.9
139.3

440.0

149! i

291.0

1,754
1,673
1,810

132.4
132.5
137.7

172.6

388^6

393.40

397.44
397.59
401.10

140,8
141.8
139.2

457.2

H>isi!7

305.5

1,816
1,683
1,678

132.7
236.3
135.8

171.2

394.QQ
390!05

395.69

140.3
140.9
140.5

454! 1

149^5

304.5

1,681
1,743
1,679

135.3
144.2
152.8

174.9

6)394^98

|H)402.90

H> 465^2

147^2

318.0

1,813
1,690
1,887

139.0
134.9
143.1

179.7

0)418.62

138.5
142.2
141.6

January
February
March
April
May
Jyne
JiJ^y
August
September
October
November
December

.

.

401.99
395.78
404.89
405.00

1986

380.04

387.13

381.52
394.74
394.11

142.1
141.3
139,2

453~2

145 .'4

307.8

2,004
1,923
1,887

147.4
141.1
144.3

185.9

376.21

379.25

395.29
383.39
388.43

139.6
138.6
137.2

441.0

128^4

312-6

2,945
1,848
1,842

149.4
141.8
143.0

196.5

375.50

January
February

376.42

388.27
r387.28
r387.47

139.4
139.1
139.6

437.7

m.i

315.0

1,786
1,800
1,689

141.8
137.8
134.5

201.1

386!09

386,76

394.85
390,78

443.'2

124-6

318.6

1,657
1,637
1,813

132.7
132.9
148.5

iH)2Q2-2

412.74

139.4
138.3
139.5

March .
Aprs!
May

June
itiiy
August
September
October
November

.

.

December
1987

374.23

374.'49

373.01
386.71
391.88

138.6
141.7
141.9

426.0

120.4

305.6

1,816
1,838
1,730

131.7
133.7
137.1

198.2

377"65

376.93

r390.24
r390.29
r396.16

142,1
141.7
144.2

437^9

12CL4

317.5

1,643
1,606
1,586

127,4
119.1
121.0

196.8

r398.45
p405.52
(NA)

146.0
145.8
@>pI46.6

P461.8

pl24!9

(H)p336.8

rl,598
rl,598
pl,669

118.6
119.8
119.8

pi96.7

January
February
March
April
May
fune
July
August

a 398'04

September
October
November

a4O6'.37

d4O3.'7S

December

See note on oage 60
Graphs of these series are shown on pag« 13, 24, and 25.
' S e r i e s i 8 r e a c h e d i t s h i i ; h v a l u e ( 2 , 2 6 0 ) Ln F e b r u a r y 1 9 8 4 ; s e r i e s
* S e e "Kew F e a t u r e s a n d C h a n g e s f o r T h i s f s s u e , " p a g e i i i .

IICII

OCTOBER 1987



29reached

i t s high valise (!S8.jj)

i n February 1984.

87

CYCLICAL INDICATORS
B

I

CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued

MAJOR ECONOMIC
PROCESS

MM

NUno! Economic
Process
Timing Class

Inventories on Hand and on Order

Inventory Investment

Ll.L

L,L,L

L 1.1

30. Change m
business inventories m 1982
dollars J

Year
and
moist h

NVENTORIES AND INVENTORY INVESTMENT

(Ann. rate.
in\. dol.)

36. Change sn Ffrtjj . and ttatie
inventories on ha d and on
order in 1982 dol ars !
Sinoothed5

Actual

(Ann. rate.
bii. dol.)

31. Change
m mfg. and
trade inventories 1

(Ann rate,
bit dol.)

(Ann. rate,
bil. dol.)

L,i, I

38. Change in
mfrs.' inventories, materials and supplies on hand
and on order 1
( 6 1 dol.)

Lg. Lg, Lg

Lg, Lg. l g

Manufactur g and irade
mren ones
7 L Current
dollars
(Bii. dol.)

n. Constant
(1982) dollars
(Bit. M.)

Lg, Lg, Lg

65. Manufacturers' inventories.
finished
goods

Lg, Lg, Lg

11. Ratio,
mfg. and
trade inventories to
sales in
1982 dollars

{U. U.)

(Rate)

L, Lg, Lg

78. Mfrs.1
inventories,
materials and
supplies on
hand and on
order 1
(Btl do*.)

1985

19.5

May
Jsme

22.13
11.47
-16.33

7.78
9.85
7.57

14.3
33.2
-2.3

0.20
-1.04
-4.71

642.52
645.28
645.09

632.24
633.78
633.51

108.04
108.54
53)108.77

1.58
1.58
1.57

238.42
237.38
232.66

17.3

January
February
March

-3.85
-8.26
9.94

1.43
-6.19
-5.10

-4.4
-6.3
20.0

1.44
-2.10
0.72

644.73
644.20
645.87

634.08
634.01
635.32

108.25
108.11
107.84

1.56
1.55

g>1.58

234.10
232.00
232.72

)u!y
August
September

-5.7

-5.21
-17.57
0.88

-0.95
-2.73
-5.79

-4.0
-12.8
-0.3

-1.55
-0.40
-1.00

645.54
644.47
644.45

635.70
635.17
635.59

106.73
106.34
105,82

1.57
1.54
1.55

231.17
230.77
229.77

October
November
December

-1.6

17.48
-6,61
12.06

-3.52
2.09
5.78

32.3
23.4
19.3

0.00
-2.33
2.76

647.14
649.09
650.70

637.74
637.77
638.17

105.37
105.54
105.76

1.56
1.55
1.56

229.77
227.44
230.20

January
February
March

21.82
16.33
42.60

8.37
12.92
21.84

14.3

35.3

Q.I
24.2

-0.23
1.22
-0.45

651.88
651.89
653.90

639.55
640.54
644.56

105.75
105.43
105.21

1.55
1.56
1.57

229.97
231.18
230,73

April
May
June

28.1

10.85
-39.11
20.70

25.11
14.03
1.13

12.9
-25.5
8.6

-0.96
-1.95
-1.33

654.98
652.85
653.57

646.10
643.87
645.89

105.17
104.87
103.80

1.54
1.56
1.56

229.77
227.82
226.49

e'.i

25.01
r-24.04
r-30.89

-0.16
r4.71
r-K38

33.7
r-9.8
r-30.9

-0.90
r-1.09
rl.52

656.37
r655.55
652.98

648.98
517.14
644.01

104.05
rl93.60
102.56

1.55
1.54
1.49

225.59
r224.50
r226.02

r25.?9
-21.16
-4.69

r-9.84
r-9.23
r-4.39

43.7
-5.2
-41.8

r-0.94
-0.04
1.69

656.62
656.19
652.70

646.72
645.45
643.29

102.85
103.82
103.17

1.53
1.52
1.48

225.08
225.04
226.73

47.6

64.25
2.18
48.05

r6.39
16.69
29.37

76.0
17.2
30.5

-0.58
-0.73
2.15

659.04
660.47
663.01

649.53
649.55
651.82

104.63
104.48
104.59

1.55
1.50
1.51

226.15
225.42
227.58

39.0

22.78
r50.33
r32.87

31.25
r32.36
r37.86

34.4
68.8
37.7

3.23
0.59
2.46

665.88
671.61
674.75

652.67
655.75
656.98

104.22
104.28
103.48

1.52
1.53
1.53

230.80
231.40
233.86

r28.37
p-10.74
(NA)

r36.26

plS.l

P37.O1
(NA)

r35.9
pl2.9

2.98
p i . 39

{NA;

(MA)

T677.74
[H)p67S.82
(NA)

(H>r658.29
p656.84
{NA)

r-104.58
P105.34
(NA)

1.52
pi.52
(NA)

236,84
P238.22
(NA)

1986

Juiy
August . . .
September

.. .

October
November
December

-14.4

1987
January .
February
March

..

Aprif
May
June
July
August
September
October . .
November
December

....

Sse note on page ...
Graphs of these series are shown on pages 13, 15, 26, and 27
27.
'The following series reached their high values before 1985: series 30 (83.4) in 1st quarter 1984, series 56 actual (91.14) in February
984, series 3b smoothed (78.58) in May 1984, series 31 (85,5) in February 1984, series 38 (3.S8) in October 1983, and series 78 (243.82)
.i July 1984.
i July 19S4.

This s e r i e s i s a weighted 4-terra moving average (with weights 1 , 2 , 2 , 1 ) placed on t h e t e r m i n a l month of the span

68



OCTOBER 1987

BCII

CYCLICAL INDICATORS
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued

MAJOR ECONOMIC
PROCESS

PRICES, COSTS. AND PROFITS

....

Minor tconotnic
Process

Stock

Sensitive Commodity Prices

. ..

Timing Class

L, L. L

98. Change in
producer prices
tor 28 sensitive
Year

crude and

and

intermediate

month

L, L, L

U.L.L

23. Index of
spot market
prices, raw
industrial,
materials 2 ©

Profits and Profit Margins

Prices

L,L, I

99. Change in sensitive materials
prices *
Actual

Smoothed

s

19. Index of
stock prices,
500 common
stocks ©

L, L, L

LL, L

Corporate profits after tax

L.C.L

L. C, L

Corporate profits after lax
with IVA and CCAdj11

L.L.L

22. Ratio, corporate domestic proMs after

16. Current
1

dollars

18. Constant
(1982) dollars1

79. Current

80. Constant

tax to corpo-

dollars

(1982) doliars

rate domestic
income*

materials

(Percent)

(1967=100)

(Percent)

(Percent)

(1941-43-10)

(Ann. rate,
bil. dol.)

(Ann. rate,
bil. doL)

(Ann. rate,

bil. dot)

(Ann. rate,
bfl. dol.)

(Percent)

$.0

1985

-0.07
-1.69
-0.38

255.8
253.1
252.4

-0.72
-1.20

-0.96
0.90
0.52

171.61
180.88
279.42

123.6

117.0

171.6

165.9

-0.26

-0.53
-0.68
-0.32

257.1
252.0
242.9

0.04
-0.13
-0.78

-0.60
-0.30
-0.20

180.62
184.90
188.89

u,e

117.6

181*6

175.3

-0.07
-0.34
-0.65

240.7
239.8
238.0

-0.31
-0.31
-0.53

-0.35
-0.44
-0.42

192.54
188.31
184.06

129', 7

122.2

0.59
-0.55
0-00

236.9
234.5
235.0

0.18
-0.62
0.09

-0.30
-0.27
-0.22

186.18
197.45
207.26

134^4

126.4

0.45
-2.24
0.91

236.9
233.3
223.1

0.45
-1.07
-0.85

-0.07
-0.10
-0.33

208.19
219.37
232.33

120.9

m 9

0.93
0.65
0.00

219.9
221.3
225.0

0.09
0.50
0.50

-G.55
-0.35
0.14

237.98
238.46
245,30

122.3

112'. 5

180.2

171.3

4.7

0.61
-2.57
1.36

227.6
212.0
221.2

0.67
-3.38
1.93

0.46
-0.09
-0.50

240.18
245.00
238.27

130.2

139^5

180*3

170. i

4.9

1.37
0.78
0.37

235,5
243,7
247.5

2.62
1.41
0.65

0.06
1.19
1.77

237.36
245.09
248.62

134,0

122*7

167 ! l

156.6

5'i

-1.14
-0.37
0.61

252.8
247.2
246.3

1.12
0.31

129.0

115". i

165^9

153.3

4.6

-0.14

264.51
280.93
292.47

May

-0.54
r2.07
r2.03

-0.11
r0.67
rl.56

289.32
289.12
301.38

134.5

120.5

162.6

148.8

4.8

June

253,8
272.6
276.4

0.00
-0.86
0.22
0.61
|H)r3.24
rl.46

2-02
1.28
[H)3.50

284.2
288.3
H>292.4

1.89
1.09
2.24

H)1.98

310.09
(H) 329.36
318.66

(NA)

(NA)

(HA)

January
February .
March .
April

....

May
June
July
August

....

September
October
November
Becembw

-

E>186.6

5^2

178*8

172 ."i

5.-1

189.9

182.8

1986
January
February
March
April
May
Sune
July
August
September .
October
November

.

December

i

^

1S87
January
February .
March .
April

..

.

July .
August
September
October

*295.2

rl.84
1.61

6

273.47

November
December

See note on page 60.
Graphs of these series are shown on pages 13, 28, and 29.

'The following s e r i e s reached t h e i r high values b e f o r e 1985: s e r i e s Ib ("152.5) in 1st. q u a r t e r 1984, s c r i e s 18 (149.4) in 1st q u a r t e r l'JS4 ;
a
and s e r i e s 22 ( 6 . 9 ) i n 1 s t q u a r t e r 1984.
T h i s i s a c o p y r i g h t e d s e r i e s used by p e r m i s s i o n ; it. may not be reproduced without w r i t t e n {ter3
A
mLssion from Cosrerodity Research Bureau, I n c .
See f o o t n o t e 2 on page 68.
See f o o t n o t e 1 on page 70.
'Average for October 1 through
6
27.
Average for October 7, 14, 2 1 , and 28.

Kitt

OCTOBER 1987



CYCLICAL INDICATORS
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued

MAJOR ECONOMIC
PROCESS

^ J

Minor Economic
Process

Cash Flows

Profits and Profit Margins—Continued

Timmg Class

U. L, L

LL, L

L,L,L

81. Ratio, corporate domestic profste after
tax with IVA
and CCAdj to
corp. domestic
income'

15. Profits after
taxes pet dollar
of sate, manufacturing corporations

26. Ratso. implicit price deflator to umt
labor cost,
nonfarm business sector

(Percent)

Yea*
and
month

PRICES, COSTS, mo PROFITS—Con nuerj

(Cents)

{1977 = 100)

L. L L

Uestt U t a Costs and. Latos Share

L, L, I

Corporate net cash flow
34. Current
dollars
(Ann. rate,
bil. dol.)

Lg. Lg. Lg

63. Index of
usiit labor cost,
business sector

35. Constant
(1982) M a t s
(Ann. rate,
bil. dol.)

(1977 = 100)

Lg, is, Lg

68. Labor cost
per unit of rea§
gross domestic
product, nonfeasoai corporations
(Dollars)

ianuary
February
March .

Actual data
as a percent
of trend

Actual data

(197?= 100)
2

Revised'

99.1

355'. 7

355.1

161.9

0.698

133.0
137.1
137.2

3.7

99.3

365.3

365.1

162.8

0.701

137.2
137.0
137.9

100.0
99.9

138.1
137.7
137.6

100,7
100.4
100.3

JH>139 . 8

July
August
September .
October
November
December

[g)101.9
100.8

. .

B>8A

..

1A

1

100.6
99.9
100.0

..

i'.9

(Percent)

(Percent)

4.2

April
May
June

64. Compensation of employees as a
percent of national income

62. Index of later cost per unit
of output, ssanufcctursng

Revised

1385

Lg. Lg, lg

tg. Lg. Lg

3.7

99.5

375.5

375.8

163.6

0.699

3.6

98.5

381.3

381.9

166.1

0.709

138.3
138.8

73.3

73.-4

300.5

73.3

[H)73.6

101 ?

1986

7.8

3,7

O ) 99.5
R

364.6

365.8

165.0

0.709

137.3
137.6
139.3

100.1
100.3
101.5

73.3

7.6

4.3

99.3

363.3

363.2

166-2

0.714

137.6
138.1
138.0

100.3
100.7
100.6

72.9

7.3

3.4

99.4

370,9

371.0

167.5

0.717

137.2
137.8
137.8

100.0
100.4
100.4

73.1

6.7

3.5

98.4

376.7

375.9

169,0

0.720

133.8
137.6
136.4

101.2
100.3
99.4

73.5

January . .
February
March

6.4

4^4

99.1

378.7

378.6

169.4

0.724

137.4
136.8
136.0

300.1
99.7
99.1

73.0

April . .
May . .
June

6.2

lH>4.9

99'.3

H>384.6

|g>384..3

H>170!2

E>0.728

135.9
135.7
135.0

99.1
98.9
98.4

73.0

July
August
September

(NA)

(NA)

(NA)

(fJAJ

(NA)

(NA)

(NA)

133.7
134.3
p!35.4

97.4
97.9
p98.7

(NA)

January
February
March
April
May
June

..
..

July . .
August
September

.

October
November
December .

..

1987

October
November
December .

..

.. .

See note on page 60.
Graphs of ihese series are shown on pages 15, 29, and 30.
l
IVAj
a

inventory valuation adjustment; CCM3, capital consiiraption
See "New Features and Changes for This Issue," page i i i .




adjustment,

OCTOBER 1987

CYCLICAL INDICATORS
B

I

CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued

MAJOR ECONOMIC
PROCESS . . .

§ J g MONEY AND CREDIT

Minor Economic
Process

Money

Ttmsng Class

L, L, L

85. Change
m money
supply Ml

L,C, U

102. Change
in money
supply M2 1

L, L, L

104. Change
in total (squid
assetsJ

Velocity of Money

L,L,L

105. Money
srjprjty Ml rr?
1982 dollars

L,L,L

106. Money
supply M2 ®
1982 dollars

Year
and
month
(Percent)

(Percent)

(Percent)

<8tl. dot)

(8il. do!.}

CCC

107. Ratio,
gross national
product to
money supply
Ml'

(Ratio)

Credit Flows

C Lg, C

108. Ratio,
pefSD/sal income
to money supply

M2

1

(Ratio)

L, 1,1

33. Net change
in mortgage debt
held by financial
institutions and
life insurance
companies1
(Ann. rate,
M. *).>

1, L, L

Ml. Net change
in busmess loans

(Ann. rate,
bi). del.)

1985
January
February
March

2,188.7
2,202.5
2,199.5

6.900

0.61

513.6
61S.4
513.6

1.350
1.348
1.350

71.21
59.26
101.14

54.62
22.08
40.85

0.07
0.64
1.14

0.20
0.47
0.83

520.1
523.5
529.7

2,193.5
2,200.6
2,221.0

6.815

1.359
1.346
1.339

86.62
66.98
73.73

9.59
28.55
-42.54

0.97
1.33
1.21

0.65
0.79
0.60

0.46
0.82
0.78

533.9
540.1
545.9

2,231.3
2,245.6
2,256.2

6.694

1.335
1.329
1.327

58.92
68.39
42.35

18.52
1.20
-18.55

0.46
0.86
1.23

0.34
0.57
0.80

0.64
0.99
0.94

546.4
548.3
553.3

2,225.7
2,256.6
2,267.6

6.618

1.334
1.332
1.340

125.47
71-12
106.55

56.11
56.44
43.50

0.30
0.52
1.31

0.20
0.30
0.64

0.60
0.48
0.38

553.1
557.5
567.1

2,264.5
2,277.4
2,301.1

6.585

1.338
1.341
1.340

-23.17
57.40
43.56

57.86
-50.58
-11.22

1.20
1.76
1.20

0.96
O.90
0.76

0.64
0.81
0.52

575.5
584.2
588.7

2,329.6
2,344.8
2,352.5

6.397

2.344
1.332
1.323

52.58
30.83
(NA)

-46.75
21.97
-26.40

1.36
1.54
0.89

0.99
0.92
0.67

0.66
0.72

2,375.1
2,393.4
2,402.0

6.222

rQ.69

596.5
604.8
608.3

1.314
1.307
2.304

8.20
47.78
-22.16

1.20
1.57

0.90
0.54
0.90

rO.64
rO.63
rO.79

614.5
622.6
637.3

2,419.1
2,426.4
2,443.7

5.999

1.296
2.293
1.290

25.92
23.40
98.02

rO.8O
-0.02
0.12

rO.79

rO.19
r-0.26

639.3
636.3
635.5

E>r2,446.9
2,436.1

5.930

1.286
rl.3O0
1.303

{H)122.21
-39.71
-32.92

0.47

0.28

641.9
[H>642.2
634.4

r2,429.8
2,422,3
r2,414.6

5.927

1.304
1.306

633.8
633.6
P&32.7

r2,414.3
vl,415.1
p2,421.6

P6.017

0.83
1.35

1.11
1.04

0.74
0.96

. ..

0.58

0.40

...

0.63
0.97
1.41

July
August
September .
October
November
December . .

Apn!
May
June

. . .
.

1986
January
February .
March . .
April
May
June

. . .

iuiy
August
September

. ..

October
November
December

H>2.54

1987
January
February
March

0.99
-0.04

April
May
June

1.46
0.37
-0,86

r0.02
r0.04

rO.79
rO.33

0.13
0.44

r0.22
rO.51

r-0.16

pO,O3

pO.AA

July
August
September

0.28

. .

. ..

October . .
November
December

pO.64
(HA)

r2,429.1

10.91
-4.14

rl.308

r-26.99

rl.312
rl-313
pi.316

r-4l,92
r~23.33
plfi.94

*0.96

See note on page 60
Graphs of these series ate shown on page; 13, 31, and 32.
!
Thi; following series reached their high values before 1985: series 102 (2.6b) in January 1985, series 104 (1.16) in September 1984,
-.cries 107 (6.962) in 4th quarter 1984, scries 108 ("1.374) in March 1984, and series 33 (143.70) in September 1984.
2
Aver;ige for weeks ended October 5 and 12.

I M J ) OCTOBER 1987



71

CYCLICAL INDICATORS
CYCLICAL INDICATORS BY ECONOMIC

PROCESS—Continued

MAJOR ECONOMIC
PROCESS

H M

Mmof Economic
Process

Credit Flows—Continued

Timing Class

L.L.L

113. Net change
in consumer
Year
and
month

credit

(Ann. rate,

bii. dot.)

111. Change in
business and
consumer ciedil
outstanding ;

(Ann. rate,
percent)

Bank Reserves

Credit Difficulties

L.L.L

L.LL

MONEY AND CREDIT- Continued

110. Funds
rarsed by private
rsontinancial
borrowers in
credit markets

L. L, L

L.L.L

39. Percent
of consumer
installment
loans delinquent 30 days
and over1

14. Current
fiabilities of
business
failures ' @

(Ann. rate.
fflii. dot.)

(Percent)

L,U,U

93. Free
reserves1©

(Mil. dol.)

Interest Rates

L, Lg. U

94. Member
bank borrowings from the
Federal
Rtsetw* @

(Mil. dol.)

1. Lg, Lg

119. Federal
funds rate1 @

(Percent)

114. Discount
rate on sw«
issues of 91-day
Treasury bills ! @

(Percent)

1985

63.20
80.62
98.02

12.5
10.2
13.9

465,144

1,821.0
2,409.8
3,485.8

2.20
2.19
2.40

-650
-386
-827

1,395
1,289
1,593

a. 35
8.50
8.58

7.76
8.22
8.57

91.94
73.07
35.28

9.8
9.3
2.8

559,244

3,289.2
3,048.3
2,914.1

2.38
2.25
2.33

-585
-530
-300

1,323
1,334
1,205

8,27
7.97
7.53

8.00
7.56
7.01

67.68
66.18
g>125,96

8.6
8.1
9.7

556,568

2,173.9
3,018.4
2,200.1

2.29
2.35
2.39

-252
-246
-623

1,107
1,073
1,289

7.38
7.90
7.92

7.05
7.18
7.08

67.28
66.58
83.65

14.5
10.4
12.5

JH)943,376

6,844.3
4,160.4
1,548.8

2.26
2.32
2.32

-434
-813
-260

1,187
1,741
1,318

7.99
8.05
8.27

7.17
7.20
7.07

January
February
ttfarch . . . .

75.83
60.96
28.68

11.8
3.5
4.4

409,120

3,238.9
3 S 252.2
3,278.8

2.27
2.29
2.41

341
213
135

770
884
761

8.14
7.86
7.48

7.04
7.03
6.59

April
May
June

71.18
50.8?
60.14

3.4
7.2
3.2

573,088

1,766.8
3,572.8
3,467.6

2.44
2.52
2.53

-92
-38
128

893
876
803

6.99
6.85
6.92

6.06
6.12
6.21

July
August .
September

75.40
67.28
91.37

8.0
8.0
4.0

735,828

p7,609.1
p3,685.0
p3,377.2

2.22
2.33
2.24

169
-132
-282

741
872
1,008

6.56
6.17
5.89

5.84
5.57
5.19

67.04
9.38
1.73

8.1
4.2
13.1

794,096

P4,099.5
pl,973.8
P3.867.9

1.81
1.95
1.85

-95
226
542

841
752
827

5.85
6.04
6.91

5.18
5.35
5.49

9.47
12.16
3.86

r7.9
-0.3
rl.2

308,280

p3,446.6
p2,921.1
p2,622.7

2.43
2.40
2.28

488
655
389

580
556
527

6.43
6.10
6.13

5.45
5.59
5.56

44.17
-3.82
54.54

rfi.l
r4.1
r5.8

p5G0s384

p2,O24.8
P2,872.A
p2,742.3

2.36
2.43
2.35

-166
44
414

993
1,035
776

6.37
6.85
6.73

5.76
5.75
5.69

r4Q,25
p55.88
(NA)

r0.5
p4.8
(NA)

(NA)

(MA)

89
385
p-143

672
647
p940

6,58
6.73
7.22

5.78
6.00
6.32

January
Febtuas?
March

.

..

April
May
June
July
August
September .
October .
November
December

.. .

1986

. . . .

October
November .
December
..
1987
January
February .
March . .
April
May
June

.. .
.

.

. .

JuJy
August .
September . .
October
November
December . . .

= 7.36

3

6.72

.

See note on page 69.
Graph; at these series are shown on pages 13, 32, 33, and 34.
!
Thu .following series reached their high values before 1985: scries lit (22.0) in Jwne 1984, series 14 (829.2) in July 1983, series 39
(1.78) in February 1984, series 93 (-7,328) in August 1984, series 94 (8,017) in August 1984, series 119 {11.64} in August 1984, and series
3
114 (10.49) in August 19S4.
Average for weeks ended October 7, 14, 21, and 28. 3Average for weeks ended October 1, 8, 15, and 22.

72



OCTOBER 1987

CYCLICAL INDICATORS
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued

MAJOR ECONOMIC
PROCESS

^ |

Mmor Economic
Process .

MONEY AND CREDIT-Continued
Outstand ngDebt

Interest Rates—Continued

Timing C/ass . . .

U , Lg, Lg

116. Yield on
new issues of
high-grade
corporate
ta?ds!(u)

Year

C, tg, Ig

115. Yield on
long-term
Treasury
bonds1©

u. a, a
117. Yield on
municipal
bonds, 20bond average1©

Lg. i-S, Ig

Lg, Lg, Lg

118. Secondary
market yields
onFHA
mortgages1©

67. Bank rates
on short-term
business
loans 1 ®

(Percent)

(Percent)

Lg, Lg, Lg

Lg, Lg, Lg

109. Average
prime rate
charged by
banks'(g)

66. Consumer
installment
credit dutstanding

(Percent)

(Mil. do!.)

Lg, Lg. Lg

Lg, Lg, Lg

Commercial and industrial
loans outstanding
72, Current
dollars

1G1. Constant
(1982) dollars

month
(Percent)

(Percent)

(Percent)

(AW. do).)

(Mil. del.)

Lg, Lg, Lg

95, Ratio,
consumer installment credit
outstanding
to personal
income
(Percent)

1985
. . .

12.46
12.39
12.85

11.15
11.35
11.78

9.51
9.65
9.77

13.01
13.27
13.43

10.10

10.61
10.50
10.50

451,450
458,168
466,336

324,425
326,266
329,670

313,758
315,843
319,758

13.96
14.04
14.22

April
.
. .
Usy . . . .
iune .

12.45
11.85
11.33

11.42
10.96
10.36

9.42
9.01
8.69

12.97
12.28
11.89

9.90

10.50
10.31
9.78

473,998
480,087
483,027

330,469
332,848
329,303

319,912
321,592
318,783

14.34
14.57
14.58

August . .
September . .

11.28
11.61
11.66

10.5]
10.59
10.67

8.81
9.08
9.27

12.12
11.99
12.04

9.27

9.50
9.50
9.50

488,667
494,182
504,679

330,846
330,946
329,400

320,587
322,245
322,625

14.69
14.82
15.06

October
November
December

11.51
11.19
10.42

10.56
10.08
9.60

9.08
8.54
8.43

11.87
11,28
10.70

9.68

9.50
9.50
9.50

510,286
515,834
522,305

334,076
338,779
342,404

324,661
327,639
330,506

15.09
15.19
15,19

10.33
9.76
8.95

9.51

8.08
7.44
7.08

10.78
10.59
9.77

9.29

9.50
9.50
9.10

529,118
534,198
536,589

347,226
343,011
342,076

336,459
337,277
341,053

15.36

9.07
8.13

April .
May . .
June

8.71
9.09
9.39

7.59
8.02
8.23

7.20
7.54
7.87

9.80
10.07
9.98

8.13

8.83
8.50
8.50

542,521
546,759
551,771

338,180
340,011
337,811

339,538
340,011
338,149

15.39
15.51
15.64

iuiy
Augus!
September

9.11
9.03
9.28

7.86
7.72
8.08

7.51
7.21
7.11

10.01
9,80
9.90

7.73

8.16
7.90
7.50

558,054
563,661
571,275

338,494
342,476
340,629

340,537
344,890
342,685

15.76
15.86
16.01

October . .
November
December

9.29
8.99
8.87

8.04
7.81
7.67

7.08
6.85
6.86

9.80
9.26
9.21

7.28

7.50
7.50
7.50

576,862
577,645
577,789

342,789
344,739
352,907

343,820
345,430
353,969

1)16.12
16.09
15.99

January
February
March

8.59
8.58
8.68

7.60
7.69
7.62

6.61
6.61
6.66

8.79
8.81
8.94

7.46

7.50
7.50
7.50

578,578
579,591
579,913

|H}363,091
359,782
357,039

>R}361,285
356,220
353,154

15.93
15.79
15.74

April
May
June

9,36
9.95
9.64

8.31
8.79
8.63

7.55
8.00
7.79

10.02
10.61
10.33

8.24

7.76
8.14
8.25

583,595
533,276
587,8?1

357,943
r357,603
r355,354

351,274
r348,541
r344,669

15.76
15.73
15.83

9.70
10.09
10.63

8.70
8.97
9.58

7.72
7.82
8.26

10.38
10.55
10.71

8.20

8.25
8.25
8.70

r591,175
R)p595,83?
(Nft)

r351,86J
r349,fS17
p351,329

r339,634
r337,432
0338,794

rl5,82
p!5.85
(NA)

'10.88

'9.78

January
February
March

1986
January
February .
March

.. .

15.42
15.41

198?

.

. .

July
August
September
October
November .
December

3

8.7 7

"9.08

See note on page 60.
Graphs of these series are shown on pages 15, 34, and 35.
1
T h c f o l l o w i n g s e r i e s r e a c h e d t h e i r h i g h v a l u e s b e f o r e 1985: s e r i e s lib ( 1 4 . 4 9 ) i n J u n e 3 9 8 4 , s c r i e s 115 ( 1 3 . 0 0 ) i n J u n e 1 9 8 4 , s e r i e s 117
( 1 0 . 6 7 ) i n J u n e 198.1, s e r i e s 1 " 8 ( 1 5 - 0 1 ) i n May 1 9 8 4 , s c r i e s 6 7 ( 1 3 . 2 9 ) i n 3d q u a r t e r 1 9 8 4 , a n d s e r i e s 1 0 9 ( 1 3 . 0 0 ) i n A u g u s t 1 9 8 4 . 2 A v o r a g e
J
s ended O c t o b e r 2 , 9 , 1 6 , a n d 2 3 . 3 A v e r a g e f o r weuks e n d e d O c t o b e r 1, 8 , 1 5 , a n d 2 2 .
"Average f o r October 1 through 2 8 .

OCTOBER 1987




7
3

CYCLICAL INDICATORS
C

I

DIFFUSION INDEXES AND RATES OF CHANGE

I Q I DtFR5SH)N INDEXES
950. Twelve leading
indicator components
(series 1, 5, 8
Y'eaf

20. 29, 32, 36

and

12, 19,
99,106,

952. S» laggspI
indicator components
(series 62, 77 91, 95,
101. 109)

951. Four roughly
coincident ind cator
components (series
41,57.51,57)

111) '

961. Average weekly
hours of production or
nonsupervtsory workers.
20 manufacturing
industries

962. Initial claims for
unemployment insurance.
State programs, 51
areas

3

963. Employees on
private no nag cultural
payiofe, 136
industries

montfi

6-month
span

span

1-month

6-month

span

span

1-month
span

6-month
span

Revised3

1-month

1-month
span

9-month
span

1-month
span

6-mo nth.

65.9
47.0
52.4

46.5

Revised3

9-month

1-month

span

span

span

1985
68.2
54.5
36.4

3une
July
August

.

September
October
November
December

66.7
66.7
83.3

27.5
15.0
95.0

42.5
40.0
47,5

84.3

33.3
41.2
64.7

45.5
54.5
72.7

100.0
62.5
75.0

100.0
100.0
100.0

41.7
50.0
50.0

66.7
66.7
66.7

15.0
30.0
SO.O

47.5
52.5
70.0

19.6
45.1
88.2

64.7
58.8
68.6

47.3
53.2
46.8

44.3
44.3
45.1

90.9
72.7
90.9

50.0
100.0
50.0

75.0
100.0
100.0

58.3
58.3
6fi.7

75.0
58.3
66.. 7

35.0
75.0
72.5

92.5
92.5
95.0

7.8
82.4
59.8

64.7
13.7
62.7

53.8
53.8
47.8

43.0
44.3
49.2

90.9
81.8
50,0

50.0
87.5
87.5

100.0
100.0
62.5

83.3
4K7
83.3

58.3
75.0
83.3

80.0
47.5
97.5

60.0
77.5
77.5

23.5
74.5
27.5

62,7
33.3
64.7

53.2
54.3
57.3

49.2
47,3
45.9

59.1
50.0
54.5

75.0
75.0
50.0

100.0
75.0
75.0

58.3
75.0
66.7

50.0
66.7
50.0

20.0
17.5
85.0

80.0
55.0
30.0

58.8
52.9
64.7

49.0
39.2
51.0

53.2
48.1
48.1

47.6
47.6
43.0

63.6
50.0
59.1

54.5
63.6
63.6

100.0
25.0
37.5

75.0
75.0
100.0

0.0
66.7
33.3

41.7
50.0
35.3

40.0
50.0
52.5

57.5
32.5
52.5

25.5
74.5
56.9

56.9
58.8
67.6

53.5
52.4
46.8

43.2
45.4
48.4

68.2
72.7
90.9

87.5
100.0
75.0

75.0
100.0
100.0

50.0
50.0
41.7

50.0
41.7
50.0

37.5
77.5
65.0

87.5
60.0
82.5

34.3
77.5
19.6

92.2
45.1
90.2

52.4
56.2
55.1

47.3
53.0
59.2

54.5
81.8
81.8

r72.7
r72.7
90.9

75.0
87.5
100.0

75.0
100.0
75.0

91.7
41.7
25.0

75.0
33.3
58.3

57.5
75.0
52.5

87.5
70.0
52-5

66.7
80.4
7.8

70.6
70.6
94.1

53.2
59.7
59.7

58.9
57.8
58.9

36.4
54.5
72.7

May . .

S3.3
50.0
58.3

59.1
50.0
50-0

April

100.0
75.0

59,1
45.5
59.1

. . .

100.Q

72.1
45.5
81.8

March .

50.0
100.0
75.0

50.0
63.6
68.2

February

45.5
50.0
50.0

36.4
77.3
50.0

January

63.6
63.6
63.6

25.0
100-0
50.0

100-0
100.0
50.0

66.7
25.0
25.0

50.0
50-0
50.0

67.5
60.0
32.5

72.5
70.0
r7S.O

88.2
35.3
52.0

69.6
82.4
78,4

53.5
56.8
58.6

61.9
62.. 7
58.9

59.1
45.5
68.2

72.7
63.6
"55.6

50.0
87.5

100-0
75.0
100-0

66.?
41.7
58.3

33.^
66.7
"50.0

7.5
95.0
50.0

r62.5
P25.O

73.5
78,4
19.6

P?7.5
(NA)

58.4
58.6
55.7

r67.3
r66.5
p71.9

11.8
72.5

46.5

13.2

1986
January
February
March
April

.

May

.

. .

June
)uly
August
September

.

October
November

.

..

December
1987
January

.

February
March
April

. . . .

May
June

.

. . .

50.0
45.5
"50.0

July
August
September

100.0
100.0
=100.0

3

33.3
50.0
fi
100.0

r55.0
50.0
P15.0

54.7
p80.4
(NA)

r6B.6
r53.0
P64.9

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 inte.es afe plated on the H month 6morth mtieses en \hs 4th month, and 9-monln indexes on the 6th month of the span; 1-quarter indexes are placed on the 1st month of the 2d quarter and 4-quarter indexes on the 2d month of the 3d quarter.
Series are seasonally adjusted except for those, indicated by @ , that appear to contain no seasonal movement. Series numbers are for identification only and de nof reflect series relationships or order. Complete titles and sources are listed at the bad of this issue. The " i " indicates revised; " p " , preliminary; "e", estimated; "a", anticipated; and "NA". not available.
Graphs of these series are shown on page 36.
beginning with data for January 1984, series 12 has been suspended from this index.
I
Figures are the percent of components declining.
3
See "New Features and Changes for This Issue," page iii.
'•Excludes series S6 ami ill, for which data are not available.
5
iixcludes series 57, for which data are not available.
6
includes series 77 and 95, for which data are not available.

7
4




OCTOBER 1987

CYCLICAL INDICATORS
C

I

DIFFUSION INDEXES AND RATES OF CHANGE—Continued

H P
564. Manufacturers'
new orders, 34
durable goods industries
Year
and

965. Newly approved
capital appropriations
in 1982 dollars, 17
manufacturing
industries

966. Indusiria
duct ion, 24 in

DIFFUSION H^DEXES—Continued
prolustries

967. Spot market
prices, 13 raw
industrial materials @

968. Stock prices, 500
common stocfcsi(u)

960. Net profits,
manufacturing,

about

600 companies2®

month

1-month
span

9-month
span

1-Quaitef
span

4-Q moving
average

50.0
42.6
58.8

....

November
. .

.

59

41.2
48.5
58.8

38.2
44.1
44.1

36

47.1

24

r51.5
32.4
66.2
47.1

59

61.3
79.4
72.1

65

52.9
67.6
55.9

r8b.3
r73.5
r73.5

42

r79.4
p73.5

3

Revised

9-month
span

1-month
span

9-month
span

(4-qumtef

span)

3

53

38.2
35.3
64.7

July
August
. .
September

55.9
48.5
52.9

r54.4
47.1
55.9

June

52.9
64.7
38.2

44.2
r39.7
r64.7

May

42

58.8
26.5
55.9

Aprs! .

54.4
45.6
58.8

55.9
47.1
44.1

March

50

61.8
42.6
44.1

February

50.0
64.7
57.4

41.2
58.8
51.5

January

December

span

Revised

1985

1-month
span

6-month
span

1-month

56.2
62.5
70.8

23.1
38.5
57.7

23.1
23.1
23.1

89.1
93.5
37,0

77.8
73.3
85.6

70

*54

41.7
54.2
66.7

75.0
75.0
66.7

76.9
38.5
23.1

23.1
38.5
46.2

55.4
66.7
75.6

77.8
82.2
73.3

72

'51

54.2
72.9
47.9

66.7
68.8
70.8

38.5
46.2
46.2

38.5
46.2
38.5

76.7
30.0
11.1

75.6
82.2
86.0

70

48

58,3
62.5
58.3
79.2

42.3
23.1
57.7

53.8
53.8
53.8

55.6
88.9
86.7

88.1
92.9
90.5

'70

58.3

83.3
62.5

85.4
37.5
16.7

75.0
41.7
58.3

61.5
38.5
34.6

46.2
50.0
57.7

60.5
81.0

94,0

90.5
90.5
88.1

'70

'43

47.9
50.0
58.3

53.8
61.5
65.4

42.3
50.0
50,0

61.9
50.0
77.4

88.1
90.5
81.0

'70

'46

75.0
35.4
52.1

47.9
75.0
79.2

50.0
50.0
65.4

50.0
65.4
73.1

35.7
67.9
42.9

81.0
71.4
78.6

74

48

58.3
47.9
31.2
70.8
70.8
75.0

72.9
87.5
87.5

73.1
61.5
65.4

65.4
80.8
76.9

34.5
76.2
50.0

95.2
100.0
92.9

'74

p57

91.7
89.6
75.0

84.6
42.3
30.8

88.5
96.2
80.8

98.8
95.2
83.3

87.8
92.7
92.5

{NA)

(NA)

31.2
64.6
60.4

p62

50.0
70.8
70.8

75.0
79.2
p87.5

61.5
88.5
57.7

73.1
96.2
"80.8

39.3
46.3
93.9

97.5
97.5

(NA)

77.1
62.5
p64.6

43

1986
January
February
March

.
. ..

Apri^
May
June
iuly
August
September

.

October
November
December

r50.0

1987
January
February

. .

March
Apni
May
Ame

.

July

.....

August

..

September
October

r67.6
r41.2
p52.9

. .

73.1
76.9
61.5

81.3
95.0
8.8

*53.8

November
December

See note on page 74.
Graphs of these series are shown on page 37.
1
Based on 46 industries through April 198$, on 45 industries through December 1985, on 43 industries through January 1986, on 42 industries through April 1987, on 43 industries through June 1987, and on 40 industries thereafter. Data for component industries are not shown
in table C2 but are available from the source.
*l"his is a copyrighted series used by permission; it may not be reproduced without written permission from Dun f Bradstreet, Inc.
.
^See "New Features and Changes for This Issue," page iii.
'•Based on average for October 6, 13, 20, and 27.

OCTOBER 2987



CYCLICAL INDICATORS
C

I

DIFFUSION INDEXES AND RATES OF CHANGE—Continued

Q [
970. Expenditures for new pian! and «tppment
21 mdustrtes

Year
and
quarter

a. Actual
expenditures
(1-Q span)

971. New orders, manufacturing: ©

c. Early
projections

b. Later
projections

Anticipated

Anticipated

(9-Q span)

S4-Q span)

<4-Q span)

973. Net sales, manufacturing
and trade: ©

972. Net profits, manufacturing
and trade! ©
Actual

Anticipated

Actual

(1-Q soars)

(1-Q span)

DIFFUSION INDEXES-Contmued

(4-Q span)

(4-Q span)

85
84
82
80

(4-Q span)

88
90
90
88

1984
97.6

73.8
90.5
59.5

88. 1
61. 3
71. »
71.

61.9
69.0
92.9
38.1

90
86
84
79

88
91
90
88

80
79
74
74

84
86
88
84

66.7
73.8
61.9
52.4

61.
76.
66.
42.

1
i

66.7
71.4
76.2
38.1

74
74
76
75

82
84
82
80

70
69
70
70

80
81
81
78

76
74
75
74

84
84
84
81

19.0
52.4
42.9
81.0

47.
66. 1
42.
85. 7

64.3
66.7
38.1
52.4

76
76
74
75

82
83
84
78

70
71
70
70

78
81
81
78

72
73
74
74

81
84
83
80

40.5
61.9

Fust quarter
Second quarter
Third quarter
Fourth quarter . . .

42. 3
78. 5
85. 7

50.0
71.4
66,7
61.9

78
83
(NA)

80
83
85
86

74
74
(NA)

78
81
83
82

78
80
(NA)

82
83
85
86

1985
Firsi quarter
Second quarter
Third quarter
fourth quarter

. .

i
1

198S
firs! quarter
Second quarter
Third quarter .
Fourth quarter

..

1987
First quarter
Second quarter
Third Quarter . . . . .
Fourth quarter

(MA)

1

| ]

feat
and
quarter

975. Level of inventories,
manufacturing and trade' @

Anticipated

Aetna

Anticipated

978. Selling prices, retad
trade! ( u )

977. Selling prices, wholesale
trade: @

376. Selling prices, manufactur

Actual

974. Number of employees,
manufacturing and trade' ( u )
Actual

DEXES—Continued
DIFFUSION IN

Anticipated

Anticipated

Actual

Anticipated

Actual

(4-Q span)

(4-Q span)

Tc

72
68
70
70

70
74
74
68

64
60
59
60

&i
6
6
6

66
63
66
62

65
70
67
62

62
65
62
59

59
59
58
62

64
64
62
62

60
62
66
62

62
62
64
64

60
66
67
66

63
70
(NA)

63
68
66
59

67
67
(HA)

64
64
68
70

(4-Q span)

{4-Q span)

(4-Q span)

(4-Q span)

(4-Q span)

(4-Q span)

(4-Q span|

65
63
62
62

62
64
64
62

72
70
70
70

66
70
70
66

74
70
70
68

74
76
76
72

73
69
65
65

60
58
58
59

60
62
59
58

66
63
60
61

64
66
62
58

65
62
61
61

70
70
64
62

58
59
60
58

59
60
59
58

62
61
62
60

58
58
60
57

59
60
58
63

60
61

60
59
62
62

64
65
(NA)

60
60
61
62

64
64
(NA)

(4-Q span)

1984
First quarter
Second quarter . . .
Third quarter
fourth quarter . . . .

r
7(
ft

1985
f i r s t quarter
Second quarter . . . .
t h i r d quarter .
..
Fourth quarter . . . .
1986
First quarter .
Second quarter
Third quarter
. ..
Fourth quarter . .
1987
fust quarter .
Second quarter . . .
Third quarter
Fourth quartet . . .

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^ © , thai appear to contain no seasonal movement. The " r " indicates revised; " p " , preliminary; and "NA", not available.
Graphs of these series are shown on page 38.

'This i s a copyrighted scries used by permission; i t may not be reproduced without written permission from Dun 5 Bradstreet, Inc. Dun &
Bradstreet diffusion indexes are based oft surveys of about 1,400 business executives.




OCTOBER 1987

CYCLICAL INDICATORS
C

I

DIFFUSION INDEXES AND RATES OF CHANGE—Continued

m

ELECTED DIFFUSION IND COMPONENTS
EX

Diffusion index components

Basic Data and Directions of Change

1987

March

Feb r u a r y

9G1.

April

May

June

August**

AVERAGE WEEKLY HOURS OF PRODUCTION OR NGNSUPERV S ORYVWORKERS, MANUFACTURING

September' 3

!

(Hours)

All manufacturing industries

+

41.1

_

+

40.6

(60}

Percent rising of 20 components

40.9
(32)

(a)

40.9
40.0

40.6
39.1

42.5
42.6

41.9
42.3

41.5
42.0

41.2
41.8

40.9
42.3

40.6
41.9

+

40.8
42.2

41.3
39.3

41.0
33.8

I

41.5
39.2

0

41.5
39.3

40.0
38.1

39.8
37.6

I

40.1
39.3

0

40.1
40.1

42.1
37.0

41.4
36.1

42.1
37.1

41.0

0

41.0

0

o

41.0

40.4

(60)

(55)

(50)

(95)

41.0

(15)

Durable goods industries.
Lumber and wood products
furnsture and fixtures

0

41.3
40.2

Stone, day, and glass products
Primary metal industries

0

42.8
42.6

fabricated meial producis
Machinery, except electrical

..

..

0

43.6
42.2

-

41.1
42.5

-

1

41.3
39.2

0

i

40.1
36.2

0

Electric and electronic equipment
Transportation equipment

\

instruments and related products
Miscellaneous manufacturing

-i-

•i-

;

41.0
39.9

+

40.6
40.0

42.3
43.3

0

42.0
43.1

41.6
42.2

0

41.5
42.2

:

41.1
41.9

0
0

+

+

40.6
40.0

+

40.4
40.1

39.3
39.3

42,2
43.4

+

42.1
43.7

41.8
43.0

41.5
42.2

40.6
41.5

41.4
42.4

+

41.1
41.7

+

41.0
41.8

40.3
41.2

41.6
38.8

*
+

41.8
39.4

40.8
39.3

-

39.9
35.5

+
+

40.3
36.4

40.1
35.3

*

42.4
37.3

+

42.1
37.4

4o.9
36.0

0

Notidurabk goods i n t o n e s :
Food and kmdred products
Tobacco manufacturers
Textile mill products
Apparel and other textile products
Paper and allied products
Printing and publishing

42.0
37.4
...

+

43.3
38.1

Chemicals and allied products
Petroleum and coal products .
Rubber antf msscelfaneaus piasto prodycls
Leather and leather products

42,2
44.0

0

-

43.0
37.9

o

-

42.0
44.1

+

+

41.5
37.2
964.

0
+•

41,5
37.5

+

43.0
37.7
42.2
43.9

42.0
37.2

+

43.5
37.9

+

40.9
36.7

43.3
38.1

42.1
44.3

42.0
43.3

41.5
38.6

+

41.8
39.3

0

I
-

43.5
38.1

«.4
37.9

+
+

43.9
38.1

*

42.8
43.0

42.2
44.4

+

42.4
43.1

41.0
38.6

+
+

41.5
38.8

41.1
36.0

106,621

+ 107,801

MANUFACTURERS1 NEW ORDERS, DURABLE GOODS INDUSTRIES
{Millions of dollars)

101,932

A!i durable goods industries

(68)

Percent rising of 34 components

Primary metals

. . .
4

Machinery, except electrical

franspartarron eqyipmeni

.
.

Other durable goods industries..

1

8,231
11,244

206,213

+

(56)

106,977

0

(38)

8,789
11,676

*
+

9,285
11,219

16,814
17,053

.

fabricated metal products

Electrical machinery

t

17,209
16,479

*
i-

27,302
21,288

30,253
21,907

-

28,028
21,069

•i-

A

9,509
11,036

109,181

+

9,976
11,603

17,583
18,353
+

0

(65)

(35}

17,667
19,709

:

106,992

17,496
19,672

29,571
20,940

28,794
21,640

109,213

-

(68)

-

+

{41}

9,718
11,261

9,457
11,002

+
t

10,37?
11,069

(53)

18,864
19,421

-

18,389
19,218

+
+

18,479
19,456

27,970
22,979

-

27,082
21,473

•i-

26,632
21,793

N O T E To f a c i l i t a t e i n t e r p r e t a t i o n , t h e m o n t h - l o - m o n i h d i r e c t i o n s o f c h a n g e a r e s h o w n a l o n g w i t h t h e n u m b e r s : f [ ) -= r i s i n g , ( a ) - u r i c f r a f t g e d , and ( - } -• falling
The " r " indicates revised, " p " .
preliminary; ani "HA", no! available
1
I)ata are seasonally adjusted by the source agency.
2
Data for raost of the diffusion index components are not available for publication, but they are included in the t o t a l s and d i r e c t i o n s of
change for the six major industry groups shown here.

OCTOBER 1987




7
7

CYCLICAL INDICATORS
C

I

DIFFUSION INDEXES AND RATES OF CHANGE-Continued

ge—Continued
( 1 1 S L C E DIFFUSION iNOEX CGMPQNEfiTS: Basit Data and Btieciions ot Chan
EE T D

1987

Diffusion index components

February

March

April

Hay

June

August

July

September^

966. INDEX OF INDUSTRIAL PRODUCTION '
(1977 = 100)

h\\ industrial production

+

Percent rising of 24 components •'

127.1

+

(65)

127.4

o

(60)

127.4

+

128.2

(50)

+

(71)

129.1

+

130.6

+

131.0

(77)

(71)

+

131.2

(62)

(65)

(NA)

Durabfe manufactures.
Lumber and products
Fufniiure and fixtures

.

Clay, glass, and stone products
Primary metals

+
+

129.6
145.0

+

128.9
149.9

-

127.8
148.2

+
+

130.3
150.5

+
+

131.1
153.9

+
+

132.6
156.2

+

131.0
157.0

118.8
75.1

+
+

119.8
77.0

+

+

120.6
76.1

+

117.2
77.Q

+
+

117.9
78.8

+
+

119.0
SI.4

+

117.7
84.7

+

86.1

109.9
150.4

-

108.5
149.7

+
*

111.1
151.8

+
+

111.2
154.4

*

111.0
154.9

+
+

111.3
155.6

0
-

174.4
126.7

+

147.0
(NA)

fabricated meiaS producls
Nonelectrical machinery

+

108.3
145.5

+
+

UO.5
148.5

+

Electrical machinery
Transportation equipment

+
+

171.0
132.7

-

168.5
132.2

-

168.4

171.1
129.4

-

170.5
126.5

+
+

172.7
127.6

174.4

127.8

+
+

+

-

+•

128.0

Instruments
Miscellaneous manufactures

+
o

142.0
101.6

+

140.3
103.9

+
-

142.8
101.4

+

142.1
101.9

+
-

144.5
101.2

-

144.1
100.7

+
+

146.1
100.9

+

136.4

+

137.3

136.0

t

137.4

+

137.7

+

138.6

+

139.8
(NA)

(NA)
{NA)
(NA)

Nondurable manufactures:
Foods ..

..

Textile mill products
Apparel products

+
+

110.8
106.5

+
-

112.6
105.4

+
-

116.6
105.3

+

115.7
106.4

+
+

117.2
107.7

+
+

119.5
109.6

-

116.3
(NA)

Paper and products .
Prinhrtg and publishing

+
-

139.9
164.4

o
+

139.9
167.6

+
+

H0.5
169.2

+
+

141.3
171.4

+
+

142.6
174.1

+
+

145.2
175.0

+
-

146.2
174.6

+

175.0

135.7
91.6

+

135.3
92.1

+
+

137.3
94.0

+

138.1
92.6

+

139.3
92.3

+
+

141.2
92.9

+

142.3
92.3

+

(NA)
92.6

+

158.6
59.4

+
+

160.5
60.2

+
+

162.2
51.4

+

165.4
60.8

+

167.7
59.2

+

167.5
61.1

Chemicals and products .
Petroleum products
Rubber and plastics products
Leather and products

+
+

156.2
59.8

Metal mining
Coal . .

-

73.6
131.7

-

71.2
122.3

-

65.7
121.9

+
+

71.7
127.2

+

70.7
128.8

+
-

72.4
127.9

+

(NA)
130.5

+

90.9
122.1

+
+

92.4
123.8

+
+

93.1
125.4

+

92.1
127.6

+

31.8
128.5

o
+

91.8
130.2

+
+

92.0
131.2

.

.

Oil and gas extraction
Stems snrj earth minerals

NOTE. To i a a i i l a t e tsiiecpretation. t h e m o n t h - i o - m o n t h d i r e c t i o n s o i change a r e s h o w n along m\h She n u m b e r s 1
p r e l i m i n a r y ; a n d " N A " , n o t available.

( ••)

:

rising, ( o ) - u n c h a n g e d , a n d { - ) - falling.

(NA)
(NA}

*
+

SNA)
131.7
92.8
(NA)

The " r " i n d i c a t e s revised: " p "

I

Revi5ed. See "New Features and Changes for This Issue," page iii. Data are seasonally adjusted by the source agency.
Wl\ere actual iSata for separate industries are not available, estimates are used to compute the percent rising.

a




OCTOBER 1987

ItCII

CYCLICAL INDICATORS
C

DIFFUSION INDEXES AND RATES OF CHANGE—Continued

||jp

fi'ifsisron iitdei

1987

coinpoiwnls

February

Marcfi

96/

KA\'t

SELECTED DiFFUS ON INDEX COMPONENTS. 8as«; Os!a and Directions o1 Change Continued

June

Hay

IHDM Of SPOT MARKET Pft CES. RAW INDUSIRtALS

247.2

246.3

(42)

ifuiustriaSs price m & x ( 1 9 6 7 - i O O )

fervent rising of l.i compunems

April

+

(31)

253.8

+

(62)

272.6

t

(38)

July

August

September

October'

;

276.4

+

234.2

+

+

(77)

(73)

(58)

288.3

292.4

+

29$.2

(62)

(54)

Dollars

iL'iiiis-i M M } !

(pound)

+

IKllOgfSfTI)
si-flO •-.Liu

0.452
0.996

+

0.167
0.363

(pounds.,
[kilogram}

+

0.502
1.107

+

0.542
1.195

+

0.599
1.321

+

0.619
1.3S5

+

0.644
1.420

*

0.646
1.424

0.280
0.617

0

0.280
0.617

o

Q.28Q
0.617

SG.OGO

+

95.000
304.719

0.162
0.357

+

0,173
0.381

*

0.235
O.52S

+

0.245
0.54D

+

0.275
0.606

+

74.600
82.232

-

74.000
81.570

+

79.000
87.082

+

82.000
90.389

+

84.000
92.593

-i-

3.738
8.241

-

3.620
7.981

*

3.708
8.175

+

3.812
8.404

-

0.455
1.003

-

3.778
3.329

-

3-744
8.254

+

3.790
8.355

*

3.815
8.411

spound),
(kilogram)

..

77.000
84.877

(ktkgtdtrt)

.S!=-'v,.'.u>

0.414
0.913

o

0.414
0.913

0

0.414
0.913

+

0.439
0.968

+

0.470
1.036

+

0.480
1.058

o

0.480
1.058

0.237
0.259

0.232
0.254

*

0.242 0.265

0.240
0.262

o

0.240
0.262

-

0.238
0,260

+

0.240
0.262

0.550
1.213

0.546
1.204

+

0.581

0.658

+

0.703
1.550

+

0.728

+

0.754
1.662

-

1.605

0.970

+

1.051

0.975
1.066

0.965
1.055

{ U S lorn

+

0.465
1.025

0.473
1.043

i metric k i n )

!-' •.

farm-

.

C'!U',:

(yard)
uneter!

-

i pound!
fMografn)

+
imeien
•<!•••:'•

'•••>':

(pound!

1

3.300
7.275

ipoLindi
i kilogram's

'!:.!>:•.

0.968
1.059

0.974
1.065

iiO0 pounds!

^^•••{".•'

i pound i

= knlogrami

To ''<sCLii!ati: s m e r p r e t a t H s f i ( h e rcioftfsi io-mon\h
ry a n d ' N A " . n o t avaitafeie

0.97Q
1.061

+

0.982
1.074

+

3.848
8.483
0.449
0.990

+

0.256
0.280

0.712
1.570

1.402

-

0.946
1.035

0.905
0.990

+

3.725
8.212

+

3.900
S.59S

-

3.710
8.179

3.650
8.047

+

3.850
8.488

+

4,080
8,995

*

4.300
9.039

0,800
1.754

+

0.932
2.055

+

0.938
2.063

-

0.916 +
2.019

0.928

+

0.938
2.068

+

0.987
2.176

+

P..046

1-000
2.205

50,000
110.230

o

50.000
110.230

o 50.000 o 50.000 o 50.000 o 50.000
110.230
110.230
110.230
110.230

0

50.000
110.230

o

50.000
1IO.?3<7

+

0.475
1.047

+

0,491 +
1.082

0.SO5
1.116

+

0.536
1.182

0.537
1.184

+

0.542
1.195

0.538
1.136

0.127
0.280

+

0,146 o
0.322

0.146

+

0.148
0.326

0.147
D.324

4

0.322

0.152
0.335

0.150
0.331

0.736
1.623

+

0

50.000
110.230

0

+

0.465
1.025

0.460
1.014
0.130
Q.287

UOOJuloaramsi

1.451

0.238
0.260

+ 117.000
128.969

3.270
7.209

0.143
0.315

^-•-i"

<
•

+

1.281

93.696

i J j - r E d i o n $ o l c h a n g e a r e -.hovvn a l o n g wstli I t e n u m b e r s

i •)

using

to)

<
•

unchanged, s n d { - ) - failing

T h e '<" m d u . a f c ; r e v i s e d " "o

inds;x is tlie average for October i through 27; component i>nces are averages for October 6, 1^, 20, and 27.
are not seasonally adjusted. These series ;tru based on copyrighted data used by permission; they may not be reproduced without
i permission From Commodity Research Bureau, Inc. Continents are converted to metric units by the Bureau of Economic Analysis.

OCTOBER X987



OTHER IMPORTANT ECONOMIC MEASURES
A

I

NATIONAL INCOME AND PRODUCT

<M km PERSONAL INCOME

Year
and
quarter

Difference

a. Total

(Ann. rate,
bit. dol-}

(Ann. rate,
bit. dol.)

21?. Pet capita
gross national
product in 1982
dollars

50. Gross natenal product in 1382 Mars

200. Gross national product in current dollars
c. Percent
change at
annual rate

a. Total

b. Prfference

(Ann. rate,

(Ann. rate,
bil dol.)

change at
annual rate

(Ann. rate,
dollars)

213. finaf sates
in 198? dollars

(Ann. rate,
bil. dol,)

1984
first quarter
Second quarter
Third quarter
Fourth quarter

3,674.9
3,754.2
3,807.9
3,851.8

129.1
79.3
53.7
43.9

15.4
8.9
5.8
4.7

3,451.7
3,498.0
3,520.6
3,535.2

86.6
46.3
22.6
14.6

10.7
5.5
2.6
1.7

14,613
14,777
14,834
14,857

3,368.3
3,434.8
3,459.6
3,493.5

3,921.1
3,973.6
4,042.0
4,104.4

69.3
52.5
68.4
62.4

7.4
5.5
7.1
6.3

3,568.7
3,587.1
3,623.0
3,650.9

33.5
18.4
35.9
27.9

3.8
2.1
4.1
3.1

14,966
15,010
15,120
15.197

3,549.2
3,569.9
3,628.7
3,652.5

4,174.4
4,211.6
4,265.9
4,288.1

70.0
37.2
54.3
22.2

7.0
3.6
5.3
2.1

3,698.8
3,704.7
3,718.0
3,731.5

47.9
5.9
13.3
13.5

5.4
0.6
1.4
1.5

15,362
15.352
15,370
15,388

3,676.7
3,711,9
3,745.8

4,377.7
4,445.1
:)4,512.0

89.6
67.4

8.6
5.3
j6.2

3,772.2
3,795.3
P3.S31.2

40.7
23.1
P35.9

4.4
2.5
p3.8

15,525
15,588
pl5,696

3,724.5
3,756.3
p3,813.1

1985
first quarter
Second Quarter
Third quartet
Fourth quarter
1986
First quarter
Second quarter
Third quarter
Fourth quarter
1987
first quarter .
Second quarter
Third quarter
Fourth quarter

GNP AND PERSONAL SNCOME-Continued

Year
and
quarter

PERSONAL CONSUMPTION EXPENDITURES
230. Total in current
dollars

Disposable personal income
224. Current dollars
(Ann. rate,
bit. dol.)

225. Constant
(1982) dollars
(Ann. rate,
bil. dol.)

231. Total in 1982
dollars

232. Durable goods
in current dollars

233. Durable goods
in 19S2 dollars

227. Pec capita n
1982 dollars
{Ann. rate,
dollars)

(Ann. rate,
bil. dol.)

{te\n. rate,
bil, dol.)

(Ann. sate,
bil. dol.)

{km. rate,
bil. dol.)

1984
First quarter
Second quarter
Third quarter
Fourth quarter

2,611.8
2,642.8
2,691.1
2,728.6

2,446.9
2,456.6
2,479.2
2,496.3

10,359
10,378
10,446
10,491

2,361.1

2,762.2
2,848.4
2,847.2
2,906.6

2,506.8
2,558.4
2,538.2
2,565.5

2,966.0
3,022.4
3,038.2
3,061.6

3,125.9
3,130.6
p3,!93.5

2,450.3
2,493.4

2,212.1
2,246.7
2,257.3
2,281.1

322.7
335.1
337.7
346.7

312.6
322.5
324.3
333.1

10,513
10.705
10,592
10,679

2,549.9
2,602.0
2,665.4
2,700.1

2,314.1
2,337.0
2,376.1
2,383.2

358.2
362 A
383.7
370.5

342.4
346.6
366.8
355.1

2,610.5
2,660.2
2,653-2
2,656.7

10,842
11,024
10,968
10,956

2,737.9
2,765.8
2,837.1
2,858.6

2,409.7
2,434.3
2,477.5

375.9
386.4
427.6
419.8

359.8
369.6
405.5
399.0

2,674.6
2,645,5
p2,576.1

11,008
10,865
plO,963

2,893-8
2,943.7
p3,003.7

396.1
409.0
p432.6

375.9
335.4
D403.3

2,417.0

1985
First quarter .
Second quarter
Tturd quartet .
Fourth quarter
1986
first quarter .
Second quarter
Third quarter
Fourth quarter

2,480.5

1987
First quarter .
Second quarter
Third quarter .
Fourth quarter

2,475.9
2,487.5
D 2 , 517.0

Wil: Series are seasonally adjusted except for those, indicated by @ , that appear to contain no seasonal movement. Series numbers are for identification only and do no! reflect series relationships or order.
Complete titles and sources are listed ai 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 1987

OTHER IMPORTANT ECONOMIC MEASURES
A

I

NATIONAL INCOME AND PRODUCT—Continued

B

ERSGiWL CONSUMPTION EXPENDITURES—Coot nued

236. Nondurable

quartet

237. Services m

goods in 1982

current dollars

dollars

and

238. Nondurabte

goods sn current

¥ear

WM

GROSS PRIVATE DOMESTIC INVESTMENT

dollars

(Ann. rats.

(Ann. rate,

U dol)

M

do).)

(Ann. raie,
bit dol.)

239. Sermss m
1982 dollars

(Ann. rate,
bit. dol.)

240. To!ai in
current dollars

(Ann. rate,
bil. del.)

24!. Total in
1982 dollars

242. fixed investment in current
dollars

(Ann. rate,
bil. dol.)

(Ann. rate,
bil. dol.)

243. Fixed investment in 1982
dollars

(Ann. rate,
bil. doi.)

1984
Firs! quarter

1,188.6
1,215.1
1,239.7
1,267.2

1,085.0

663.0

655.2

879,6

814.5
828.2
829.6
831.2

1,096.1
1,103.5
1,116.8

664.2
670.3
661.8

658.4
664.2
655.7

568.9
597.5
605.4
616.8

571.8
595.1
603.3
614.0

894,4
910.4
918.4
929.3

841.2
847.6
853.5
855.7

1,297.3
1,329.2
1,363.3
1,400.3

1,130.5
1,142.8
1,155.7
1,172.5

638.6
648.4
628.6
650.8

632.1
645.7
623.2
643.3

617.3
629.9
631.0
648.3

612.7
628.4
628.9
644.9

936.8
9.34.3
940.0
946.3

868.8
S80.0
879.8
880.3

1,425.2
1,445.1
1,459.5
1,492.4

1,181.2
1,184.7
1,192.2
1,201.1

683.4
679.4
660.8
660.2

674.4
665.6
645.0
631.0

645.1
651.9
657.3
666.6

639.1
637.6
638.8
645.4

969.9
982.1
p988.i

883.2
879.0

1,527.7
1,552.6
pi,583.0

1,216.9
1,223.1
pl,?35,4

699.9
70?.6
P696.5

671.8
673.7
p676.5

648.2
662.3
p681.1

624.?
634,7
p658.4

849.9

866,9
372.3

Second quarter
Third quarter

.

Fourth quarter
1985
Fsrst quarter

. . . . . .

Second quarter
Third quarter
fourth quarter
1986
Fust quarter
Second quarter
Third quarter
Fourth quarter

1S87
Firs! quarter
Second quarter
Third quarter

.

.

p'67 ?,,.",

fourth quarter

wm

-

Q

SS PRIVATE
C INVEST,-Con.

245. Change m

current dollars

261- Total in
I9S2 tfofJars

tories in 1982

dollars

quarter

260. Total in

business inven-

tories in current

and

30. Change in

business inven-

fear

SOVERNMEAJT PUfiCHASES OF GOODS AND SERVICES

266. State and
bcal government
in current dollars

267. State and
local government
in 1982 dollars

dollars

(Ann. rate.

(Ann. rate,

(Ann. rate,

bsi. dol.)

bst. dol.)

bit. dol.)

(Ann. rate,
bil. dol.)

262. Federal
Government m
current dollars

263. Federal
Government in
1982 dollars

(Ann. rate,

(Ann. rate,

bil. dol.)

bit. dol.)

(Ann. rate.
bil. do!.)

(Ann. rate,
bil. dol.)

1984
Fffsi q u a / t o . Second quarter
Third quarter
fourth quarter

...

9a.i
66.7
65.0
45,0

83.4
63.2
60.9
41.7

696.5
735.8
746.6
764.5

663.0
680.2
684.5
693.2

284.0
315.0
317.0
326.0

271.5
295.6
295.5
300.5

412.5
420.3
429.6
438.5

381.6
384.7
388.9
392.7

21.4
18.5
-2.4
2.5

19.5

784.1
800.5
332.8
867.0

703.4
712.1
738. 6
753.7

336.3

378.0

308.4
310.7
332.5
345.3

447.8
461.1
470.9
479.0

395.0
401.4
406.)
408.4

737.6
751.6
757.2
771.8

356.7
368.4
371.2
368.6

322.1
330.6
332.6
344.6

490.2
498.8
507,3
517.7

415.5
421.0
424.6
427.2

759.6
766.7
p775.5

366.9
379.6
p 3?.4.6

327.3
332.6
P33S.3

529.3
537.6
P548.9

432,3
434.1
p437.3

1985
Firs! quarter
Second quarts i
Third quarte?
fourth quarter

-5.7
-1.6

339.4
351.9

me
Firs! quarter
Second quarter
Third quarter
Fourth quarter

38.3
27.5
3,5
-6.4

-14.4

846.9
867.2
878.5
886.3

51. 6
40.3
P13.5

4 7.6
39.0
plJS.l

896.2
917.1
0933.5

35.3
28.1
6.1

1987
First quarter
Second quarter
Third quarter
Fourf.fr quarter

See note on pa^e S
O
Graphs of these series are shown on pages 41, 42, and 43.

OCTOBER 1987




OTHER IMPORTANT ECONOMIC MEASURES
NATIONAL INCOME AND PRODUCT—Continued

NATIONAL INCOME
AND ITS COMPONENTS

FOREIGN TRADE

Year
and
quarter

250. Current
dollars

255. Constant
(l%2) dollars

(Ann. rate,

Imports of goods and services

Exports of goods and services

Net exports of goods and services

(Ann. rate,
bil. do!.)

(Ann. rate,
b!l. dol.)

253. Current
dollars

256. Constant
{1382!

252. Current
dollars

280. Compensation <^
employees

257. Constant

(Arm. rate.

(Ann. rate,
bil. dol.)

220. National income in current
dollars

(Ann. rate,
bil. doi.)

(Ann rate.

(Ann. rate,

1984
First quarter
Second quarter
Third quarter
Fourth quarter

374.3
383.2
390-8
385.7

362.7
369.1
378.7
376.6

420.0
446.1
450.1
453.6

431.3
456.5
464.1
471.4

2,962.1
3,009.0
3,047.3
3,096.1

2,152.9
2,195.2
2,234.9
2,272.7

-31.0
•107.7
-114.9
-129.3

376.3
370.6
364.2
368.7

369.7
364.7
360.5
366.5

427.7
4-4-7.8
448.9
472.2

450.7
472.4
475.4
495.8

3,156.5
3,204.4
3,254.4
3,304.4

2,314,9
2,351.5
2,386.3
2,430.5

-93.8
-100.S
•110.5
•116.9

-123.0
-146.8
•161.6
-151.8

3/3.5
371.3
376.6
383.3

371.6
370.2
379.6
388.3

467.3
472.1
487.1
500.2

517.0
541.2
540.1

3,364.2
3,414.1
3,433.7
3,471.0

2,464.8
2,487.6
2,515.1
2,552.0

-112.2
-118.4
-121.7

-135.2
-132.7
p-137.9

397.3
416.5
p433.4

397.8
414.5
P430.6

509. S
534.8
p555.1

533.0
547.2
p568.5

3,548.3
3,593.3

2,589.9
2,623.4
p2,664.3

-45.7
-62.8
-59.3
-67.9

-87.3

-51.5
-77.3
-84.7
-103.5

1985
Fsrst quarfer
Second quarter
Third quarter
Fourth qua?ter
1886
Fjfs! quarter
Second quarter
Third quarter .
Fourth Quarter
198?
First quarter .
Second quarter
Third quarter
Fourth quarter

SAVING

NfclKML INCOME AMD ITS COMPONENTS-Continued

fear
and
quarter

282, Proprietors-'
income with IVA
and CCAdj:

284. fientai income
of persons with
CCAdj1

(Ann. iate,
bil. doi.)

(Ann. rate,
bii. dol.)

28S. Corporate
profits before tax
with IVA and
CCAdjJ

. Net interest

290. Gross saving

(Ann. rate,
bil. dol.)

(Ann. ra!e,
bil. dol.)

(Ann. rate.
fjfl. dol.)

292. Personal
saving

295. Business
saving

(Ann. rate,
bil. dol.)

(Ann. rate,
bil. dol.)

1984
First quarter
Second quarter
Third quarter
Fourth quarter

5.6

262.7
275.5
262.6
266.9

292.8
301.0
312.2
313.1

581.0
566.6
568.7
557.8

491.5
509.5
514.2
522.6

181.1
152.8
165.2
157.3

252.1
256.4
252.4
268.0

7.3
9.1
9.3
10.1

265.6
274.2
292.8
277.8

316.5
313.2
313.7
317.9

552.0
547.7
514.7
510.7

518.6
533.0
552.7
544.3

131.2
162.8
95.7
118.5

270.8
298.1
292.5
297.8

14.0
17.4
17.2
18.4

288.0
282.3
286.4
281.1

326.6
328.7
327.5
321.7

557.8
538.7
516.2
515.3

553.4
547.7
551.5
544.4

138.4
166.0
108.9
109.0

320.9
323.1
P322.1

20.0
18.9
J18.5

294.0
296.8

323.6
331.1
p339.5

554.3
551.3

545.3
546.7
(NA)

138.4
93.2

241.4
228.0
230.8
237.3

12.3
9.3

Fu&S quarto
Second quarter
Third quarter
Fourth quarter

Firs! quarter
Second quarter
Third quarter
Fourth quarter

1985

1987
First quarter .
Second quarter
Third quarter .
Fourth quarter

(MA)

See note on page 80.
Graphs af these series are sBown on pages 44, 46, and 46.
*IVA, inventory valuation adjustment;




CCAdj, c a p i t a l consumption adjustment.

OCTOBER 1987

OTHER IMPORTANT ECONOMIC MEASURES
A

NATIONAL INCOME AND PRODUCT—Continued

Q |

SAVING-Contmued

298. Government
surplus or deficit

Year
and

H I

SHARES OF GNP AND NATIONAL INCOME

293. Personal
saving rate

Percent of gross national product

quarter

235. Personal consumption expenditures

(Ann. rate.
bil. do!.)

(Percent)

(Percent)

248. Nonresidential
fixed investment

249. Residential
fixed investment
(Percent)

(Percent)

—
251. Net exports of
goods and services

247. Change in
business inventories

(Percent)

(Percent)

1984
-91.6
-95.8
-110,6
-122.1

6.9
5.8
6.1
5.8

63.2
64.4
64.3
64.7

10.7
11.0
11.1
11.3

4.8
4.9
4,8
4.7

2.6
1.8
1.7
1.2

-1.2
-1.7
-1.6
-1.8

4.8
5.7
3,4
4.1

65.0
65.5
65.9
65.8

11.0
11.2
10.9
11.0

4.7
4.6
4.7
4.8

0.5
0.5

....

-97.8
-148.1
-133.7
-152,1

0.1

-1.3
-1.9
-2.1
~2 5

Third quarter . . . .
Frjurfn quarter
....

-134.0
-175,0
-144.1
-138.1

4.7
5.5
3.6
3.6

65.6
65.7
66.5
66.7

10.6
10.3
10.2
10.3

4.9
5.2
5.2
5.3

0.9
0.7

-Z.Z
-? 4
- C. . ^r

66.1
66.2
p65.6

9.7
9.8
plO.O

5.1

First quarter

....

Second quarter
Third quarter

. ..

Fourth quarter

1985
First quarter .
Second quarter
Ihtrd quarter
Fourth quarter

First quarter .
Second quarter

-0.1

n i
U.I
-D.I

Firsi quarter
Second quarter .
Tturd quarter
Frjurlh quarter

4.4
3.0

-129.5
-88.6
(NA)

p3.0

H I

265, Federal Government purchases of
goods and services

0

i. i.
0 Q
u. y
p0.3

psa

o c.

-i. b

- n ,71
C-

D-? •7
V *- '

Percent of national income

268. State and local
government purchases
of goods and services

(Percent)

3 . X.

SHARES OF GflP AND NATIONAL INCOME-Continued

Percent of GNP—Continued

Year
and
quarter

1

R 1

~C . 0

-2.7

1987

(Percent)

64. Compensation of
employees

283. Proprietors'
income with IVA
:

and CCArJ]
(Percent)

285. Rental rrtesme
of persons with
CCAdj:
(Percent)

(Percent)

W. Corporate profits

2SS. Nei interest

before tax with
IVA and CCAdj

:

(Percent)

(Perten!)

1984

7.7
8.4
3.3
8.5

11.2
11.2

First quarter
Seccnrj quarter
Third quarter .
Fourth quarter

Fsrst quarter
Second quarter
Thsrd quarter
fourth quarter

First quarter
..
Second quarter
ftitrd quarter .
Fourth quarter

7.7

0.4
0.3
0.2
0.2

8.9
9.2
8.6

s.'e

9.9
10.0
10.2
10.1

73.3
73.4
73.3
73.6

8.0
8.0
7.8
8.1

0.2
0.3
0.3
0.3

8.4
8.6
9.0
8.4

10,0
9.8
9.6
9.6

11.7
11.8
11.9
12.1

73.3
72.9
73.1
73.5

8.0
8.7
8.5
8.6

0.4
0.5
0.5
0.5

8.6
8.3
8.3
8.1

9. 7
9.6
9. 5
9.3

12.1
12.1
pl2.2

73.0
73.0
{NA}

9.0
9.0

0.6
0.5

ft ?

9. ]

(NA)

(NA)

8.3
(NA)

9 .2.
(fJA)

8.1
7.6

11.4

72.7
73.0
73.3
73.4

8.6
3.5
9.0
9.2

11.4
11.6
11.7
11.7

8.5
8.7
8.7
8.6
8.4
8.5

n.3

7.6

1985

1987
First quarter .
Second quarte; .
Third quarter
Fourth quarter .

..

p8.5

See note on page 80.
Graphs of these series are shown on pages 46 and 47.
1

JV.A, inventory vaination adjustment; CCAdj, capital consurapt ion adjustment,

BOI OCTOBER 1987




O. 0

OTHER IMPORTANT ECONOMIC MEASURES
B

I

PRICES, WAGES, AND PRODUCTIVITY

| U
Implied price deflator for
gross national pto&sct
Year
and
month

310 Index

(1982=100)

310c. Change
over 1-quarter
spans1

(Ann. rate,
percent)

PRICE MOVEMENTS
Consumer price index
for all urban consumers

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

311c. Change
over 1-quarter
spans

320. Index ©

320c. Change
over 1-month
spans'

Consumer price index for
all urban consumers, food

320c. Change
over 6-month
spans:

322. Index

322c. Change
over I-month
spans1

322c. Change
over 6-mo nth
spans-

(Ann. rate,
percent)

(Percent)

(Ann. rate,
percent)

316.1
317.4
318.8

0.2
0.4
0.5

3.7
4.0
4.2

306.8
308.8
308.7

0.0
0,7
0.0

1.8

320.1
321.3
322.3

0.3
0.3
0.2

4.1
3.6
2.7

308.6
308.4
309.5

0.0
-0.1

0.4

1.8
0.6
1.2

2.8

322.8
323.5
324.5

0.2
0.2
0.1

2.8
3.2
3.4

309.6
309.7
310.6

0.0
0.0
0.3

1.7
2.9
3.7

3.0

325.5
326.6
327.4

0.4
0.5
0.3

3.7
2.8
1.7

311.2
312.9
315.1

0.2
0.5
0.7

3.6
3.2
2.5

1.9

328.4
327.5
326.0

0.3
-0 3
-0,4

0.4
-0.1
0.1

315.1
314.6
314.4

0.0
-0.2
-0.1

2.5
2.3
1.5

1.9

325.3
326.3
327.9

-0.3
0.2
0.4

-0.5
0.4
1.8

315.1
316.5
317.4

0.2
0.4
0.3

3.3
5.2
6.1

2.3

323.0
328.6
330.2

0.0
0.2
0.3

2.7
2.7
2.2

320.2
322.7
323.9

0.9
0.8
0.4

6.5
6.4
6.3

1-8

330.5
330.8
331.1

0.2
0.2
0.2

3.5
4.1
4.3

325.2
326.5
327.2

0.4
0.4
0.2

5.3
4.3
3.3

4.2

333.1
334.4
335.9

0.7
0.4
0.4

4.8
5.0
5.4

328.6
329.6
329.2

0.4
0.3
-0.1

3.1
3.4
4.4

4.0

337.7
338.7
340.1

0.4
0.3
0.4

4.5
4.6
4.1

330.2
332.0
334.4

0.3
0.5
0.7

3.2
2.6
3.9

p2.4

(1982=100)

340.8
342.7
344.4

0.2
0.5
0.2

333.8
333.9
335.6

-0.2
0.0
0.5

(Ann. rate,
percent)

(1957-100)

(1967 = 100)

(Percent)

1985

3.4

3.3

Janu^y
February
March

109.9

April
May
June

110.8

109.8
3.3

3.7
110.8

2.9

liily

111.5

111.6
September

2.9
112.4

November
December

112.4

1.6
1.7

1986
Jamj.sry
February
March

112.9

Apnl
May
June

113!?

August
September

114.7

October
November
December

114.9

1.8
112.9
2.9
113.4
3.6
114.1
0.7
114.6

1987
January
February
March

4.2
116.1

ni'.k

|ff

3.5
117.1

116.9
P2.4

August
September

pl17.8

P117.6

October
December
See note on page 80
Graphs of these series are shown on pages 48 and 4S,

'UutiiRsis as\> vyiUered within the spans'. 1-month ehnnges are placed on the 2d month,
S-quarter chasi^cs arc placed va t'm 1st munth of the Al quarter.




-month ohangos arc placet! on the 4th month, ;md

OCTOBER 1987

OTHER IMPORTANT ECONOMIC MEASURES
B

I

PRICES, WAGES, AND PRODUCTIVITY—Continued

I S

330. Index ©

and
month

330c. Change
over 6-mon!h
spans - ©

330c. Change
over 1-month
spans- (u)

(1967-100)

(Ann. rate,
percent)

(Percent)

Producer price index, crude materials
tor further processing

Producer price index, industrial commodities

Producer price index, all commodities
Year

P I E MOVEMENTS -Continued
RC

335. fn&x ©

(1967-100)

335c. Change
over 1-month
spans1 ©

335c, Change
over 6-month
spans' (u)

(Percent)

(Ann. fate,
percent)

331- Index

(196?= S O
O)

33k. Change
over 1-month
scans;

(Percent)

33k. Change
over 6-month
spans'

(Ann. rate,
percent)

-0.1
-0.1
-0.2

-0.1

March

309.5
309.1
308.6

-0.3
-0.4

322.9
322.2
322.5

0.0
-0.2
0.1

0.2
0.9
1.1

317.0
316.1
321.7

-1.8
-0.3
-1.4

-8.3
-9.9
-10.3

Iff

1985

309.3
309.8
309.2

0.2
0.2
-0.2

-0.3
-1.2
-2.0

323.8
325.3
324.8

0.4
0.5
-0.2

0.9
0.9
-0.1

309.7
307.9
305.8

-0.6
-0.6
-0.7

-8.1
-11.8
-11.6

309.0
307.3
305.5

-0.1
-0.6
-0.6

-0.9
-0.2
0.6

324.4
323.7
322.3

-0.1
-0.2
-0.4

0.2
-0.4
0.2

303.9
296.9
293.0

-0.6
-2 3
-1 3

-5.6
-2.1
-1.4

307.9
309.5
310.2

0.8
0.5
0.2

-0.1
-1.9
-3.4

324.2
324.7
325.1

0.6
0.2
0.1

-0.4
-2.9
-5.1

300.9
304.6
303.7

2.7
1.2
-0.3

-3.3
-6.1
-8.1

308.9
304.4
300.3

-0.4
-1.5
-1.3

-6.2
-6.5
-7.1

323.8
318.9
314.0

-0.4
-1.5
-1.8

-7.6
-7.9
-8.0

298.8
287.3
280.9

-1.6
-3.8
-1.7.

-17.6
-16.0
-16.7

298.2
299.2
299.0

-0,7
0.3
-0.1

-7.3
-4.7
-1,9

311.6
311.6
311.8

-0.8
0.0
04

-9.2
-6.8
-3.3

273.2
279.1
277.2

-2.7
2,2
-0.7

-14.2
-6.9
-2.9

297.4
297.2
297.5

-0.5
-0.1
0,1

0.1
-0.3
-0.3

308.5
307.9
308.7

-1.1
-0.2
0.3

-1.3
-1.2
-1.3

276.7
277.2
276.8

-0.2
0.2
-0.1

5./
-0.1
-0.4

298.4
298.7
298.5

0.3
0.1
-0.1

2.4
3.4
3.5

309.6
309.8
309.8

0.3
0,1
0.0

3.3
4.6
4.6

280,9
279.0
276.6

1.5
-0.7
-0.9

A-3
6.3
8.8

300.9
302.2
302,7

0.8
0.4
0.?

4.5
r5.7
6.8

313.5
314.9
315.7

1.2
0.4
0.3

5.0
r5.6
6.8

282.6
285.8
288.7

2.2.
1.1
1.0

10.7
r!7.9
22.4

305,0
r307.1
308.5

0.8
r0.7
rQ.5

6.3
5.6
5.2

317.3
r318.3
320.2

0.5
r0.3
r0.6

5.9
5.7
4.9

295.5
r3O3.0
306.0

2.4
r2.5
rl.O

18.6
17.0
12.5

310.2
310.5
310.4

0.6
0.1
0.0

322. 6

0.7
0.4
-0,2

307.8
309.1
306.2

0.6
0.4
-0.9

January
February

Jaty

.

August
September
October
November
December

iantsary
February

March
April
May
lisne

....

July
Augusi
September
October
November
December
3987
January
Februory
March
April
May

June .
July
August
September

323.8
323.3

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

'Changes are centered within iht; spans

OCTOBER 1987



1-month fh;ns»os arc placed or! the 2d month, ;i«d (wnonth changes art: placed on the 1th month.

OTHER IMPORTANT ECONOMIC MEASURES
B

I

PRICES, WAGES, AND PRODUCTIVITY—Continued

ffn P CE
R
Produc er price index, intermediate
matena s, supplies, and components
Year

332. Index

332c. Change
over 1-month
spans1

and

MOVEMENTS-Conhnued

over 6-month

333c. Change
over 1-mcnth

spans'

spans•

333. Index

332c. Change

(Ann. rate,

(1967=100)

(Percent)

Producer price index, finished consumer goods

Producer price index, capital equipment

(1967-100)

percent)

(Percent)

333c. Change
over 6-month
spans -

(Ann. fate,
percent)

334. Index

334c. Change
over I-month
spans•

(1967=100)

(Percent)

334c. Change
over 6-month
spans;

(Ann. rate,
percent)

1985

320.3
319.1
318.6

October
November
December

-0.2
-0.1
0.0

1.5
1.5
0.9

0.3
0.2
-0.3

-1.2
-0.8
-0.9

299.4
300.0
300.5

0.0
0.2
0.2

2.5
1.8
0.3

292.0
292.8
292.2

0.7
0.3
-0.2

1.7
1.1
-0.3

-0.2
-0.2
-0.2

-1.3
-1.4
-0.4

300.7
301.4
299.7

0.1
0.2
-0.6

2.0
2.1
2.0

292.8
291.6
289.5

0.2
-0.4
-0.7

-0.3
0.5
2.1

0.1
0.2
0.2

-0.3
-2.5
-4.2

302.4
303.2
303.5

0.9
0.3
0.1

1.9
1.6
3.1

291.6
293.5
295.2

0.7
0.7
0.5

0.7
-2.4
-3.4

-0.2
-1.3
-1.1

-6.2
-6.8
-7.3

303.5
303.8
304.3

0.0
0.1
0.2

1.8
1.5
1.7

293.8
288.1
284.5

-0.5
-1.9
-1.2

-6.3
-6.4
-7.0

307.3
306.8
306.6

-1.0
-0.2
-0.1

-8.1
-5.8
-2.9

305.1
305.5
306.1

0.3
0.1
0.2

1.9
1.9
2.2

282.3
284.1
284.7

-0.8
0.6
0.2

-8.1
-3.4
-0.5

-0.6
-0.1
0.4

-1.6
-1.4
-1.2

306.3
306.6
307.6

0.1
0.1
0.3

2.4
2.8
2.7

281.7
283.1
283.8

-1.1
0.5
0.2

1.8
0.4
0.1

304.8
304.7
304.7

-0.3
0.0
0.0

1.8
3.0
2.9

308.7
309.8
310.2

0.4
0.4
0.1

3.0
2.3
1.9

284.8
284.7
284.8

0.4
0,0
0.0

3.2
2.6
3.5

0.9
0.5
0.3

4.2
6.6

310.8
310.1
310.5

0.2
-0.2
0.1

1.7
1.2
0,9

286.2
286.7
288.7

0.5
0.2
0.7

4.1
r4.6
5.7

311.2
r313.2
314.6

September

290.3
290.0
290.0

307.5
309.1
310.1

July
Augys!

3.1
2.8
3.5

304.7
304.5
305.7

May

0.5
0.6
0.2

317.9
313.8
310.3

April

297.0
298.7
299.3

317.3
317.8
318,4

March

-0.6
-0.3
-0.8

318.4
317.8
317.1

Febfuary

0.0
-0.4
-0.2

319.4
320.1
319.0

January

0.4
r0.6
r0.4

6.3
6.0
5.4

311.3
311.6
311.6

0.3
0.1
0.0

0.8
1.6
2.8

290.6
r291.2
292.8

0.7
r0.2

5.0
4.5
3.5

317.0
318.2
318.4

0.8
0.4
0.1

312.0
312.6
314.8

0.1
0.2
0.7

293.3
293.1
293.7

0.2
-0.1
0.2

1300
January
February
March
April

.

.

May
ione
July
August
September
October
November
December

..

1987
January
February
March
April
May

liine
July
August

. . .

September
October
November
December

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

Changes are centered within the spans:




j-month changes are placed on tvse 2d month,

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

OCTOBER 1987

OTHER IMPORTANT ECONOMIC MEASURES
B

PRICES, WAGES, AND PRODUCTIVITY—Continued

H

WAGES AND PRODUCTIVITY

Average hourly earnings of production of nonsupe rvisory

Ayerage hourly compensation, al employees,

workers on private nonagricultural payrolls

nonfarm business sect jr

Year
Current-dollar earnings

and

Current-rJoffar compensatron

Real earnings

month

340. Index

340c, Change

340c, Change

341c. Change

341c, Change

over I-montts

over 6-month

over Imonth

over &-montk

spans'

spans'

spans'

341. index

{Percent)

percent)

345c. Change
Dverl-puarter
spans'

spans

(Ann, rate,

(Ann, rate,

(1977 = 100)

345, index

!

(1977 = 100)

(Percent)

percent)

(197? = 100)

(Ann, rate,
percent)

345c. Change
over 4-quarier
spans'
(Ann, rate,
percent)

1985

162.8
163.6
163.8

April
May
June
July
August
September
October
November
December

. .

.

94.4

3.2

94.5

3.0

94.1

0.3
0.2
0.4

2.8

94.0

2.5

93.9

3.3

94.1

0.0
0.3
0.5

2.5

93.9

2.9

94.1

3.3

94.5

166.2
166.9
167.8

-0.1
0.4
0.6

3.0

94.1

3.2

94.0

2.5

94.1

167.5
168-2
168.5

March

3.6

165.1
165.6
166.5

February

O.I
0.4
O.I

164.2
164.5
165.1

January

-0.2
0.4
0.?

2.8

93.6

2.4

94.4

1.7

95.0

168.5
168.9
169.2

0.0
0.2
0.2

169.1
169.5
169.8

-0.1
0.0
-0.4

4.7

0.3
-0.7

4.4

171.6

-0.8

-0.1
-0.1
0.2

-1.1

-0.2
0.2
0.4

0.1

-0.5
-0.1
0.2

-0.6

-0.8

4.3
4.6

173.4

0.9

0.1

us.i

4.8
4.4

0.0

0.6

4.8
177.6

4*i

1.1

1986
lanydry
February
March
April
May

.

.

lune
iuSy
August
September
October
November
December

-0.5
0.8
0.7

2.2

3.9

2.S
3.0

1.8

95.4

0.4

95.3

-0.1

1.8

95.2

-0.2

0.0

-Q.I
0.3
0.1

2.0

95.1

-0.1

-0.6

2.8
2.2

95.2

0.1

0.3

95.0

-0.2

0.3

170.2
171.2
171.1

0.3
0.6
-0.1

2. 5
Z.I
2.9

95.1

0.1

95.5

0.3

-0.8
-1.2

171.2
171.8
172.2

0.1
0.3
0.2

172.6
172.9
172.9

0.3
0.1
0.0

173.2
rl74.1
pi 74.7

0.2
rO.5
pO.3

2.8

3.1

1-5
1.5

3.6

179.3

95.3

-0.2

1

2.9
2.0
2.2

94.7

-0.6
-0.1

-3.0

94.4

-0.2

94.2

2.7
4.0

183*6

2.*8

-3.2

2.3
r2.7
p2.9

2.9
181.8

-1.9

94.6

3.4

180.5

Q

1987
January
February
March
AprH
May
June
July
Atigust
Septembe*

-0.2
-0.2

r-1.9

93.8

-0.3

p-1.2

93.7
r93.7
p93.8

-0.1
rO.l
pO.l

(NA)

3.1

-2.2

94.0

I.I
184.1

185.5

(NA)

<«>

October
November
December

Ses; note on page 80.
Graphs of these series are shown on pages 49 and 50.
i

.\d justed for overtime (ni mamif;Li-tun nii only) and interindustry employment s h i f t s .
C'iKiv;gos are centered within the. spans: I-month changes arc placed on the 2d month, 6~raonth changes are placed on the 4tk month, ]-quarto r changes ure placed on the 1st month of the 2d quarter, and -i-quarter changes are placed on the middle month of the 3d quarter.
2

ItOI OCTOBER 1987




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

H I

Negotiated wage and
benefit decisions

Average hourly compensation, al employees,
nontarm business sector -~C ntmued
Year
and
month

348- Average
first-year
changes @

Real compensation
346c. Changs
over 3-Quarter
spans:

346. Index

(1977=100)

WAGES AND PRODUCTIVITY -Continued

346c. Change
over 4-quarter
spans1

(Ann rate,
percent)

(Ann. rate,
percent)

(Ann. ;ate,
percent)

Output per hour, ail persons, busness sector

349. Average
changes over
life of
contract ©

(Ann. rate,
percent)

370c. Change
over 1-quartsr
spans1

3?0. Index

(19/7-100)

370c. Change
over 4-quartef
spans'

(Ann. rate,
percent)

(Ann rate,
percent)

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

(1977-100)

1986

3.6

1.3

January
February
March .

98-0

AprtI
May
June

97.9

JuSy
August
September

98.5

October
November
December .

98.7

2.0

1.4

2.8

108.4

2.3

105.9

1.3

107.7

1.5

107.7

0.2

107.5

0.4

107.5

(NA)

107.6

-1-0

107.9

2.4

105.7

3.7

3.0
103.2

2.0

0.8

1.9

10?'.?

1.3

105.2

?.9

3.4

1.1
2.4

2,5

106 -b

3.5

-0.3

2.2

2.J

1.0

1986
January
February .
March . . .
Aprti
May .
June .

2.3
99.3

0,6

1.2

4.2

100.3

5.8

109! s

1.9
0,7

0.6

1,6
109.7

2.0

. . .

July
.
.
August
...
September

0,7

0.4
.

100,4

October .
November
December

109.6
2.7

1.3

100.7

-0.3

1.2

0.5

-0 1

2.4

109.6

-1.0

1987
January
February .
Watch
April
May
June

..

. .

July
August
....
September

1.7

-3.9

99.8

-1.8

0.5

2.4

109.7

(NA)

r4.1

1.3

3.9

99.3

110.0
(NA)

(NA)

p2.5

107*9

{NA)

p?.l

(NA)

' NA ^

October
November
December . . . . . .
See note on page 80.
Graphs of these series are shown on pages 49 and 50.
I
Changes are centered within the spans: [-quarter dmnge
placed on the middle raonth of the 3d quartor.




on ilic 1st mont.h of the Jd 14u.1ri.er, auJ l-^uarte-r cfcasiges are

OCTOBER 1987

OTHER IMPORTANT ECONOMIC MEASURES
C

I

LABOR FORCE, EMPLOYMENT, AND UNEMPLOYMENT

Q |

CIVILIAN LABOR FORCC AND MAJOR COMPONENTS
447. Number
unemployed,
full-time
workers

Civilian iabor force
Year
and
monih

441. Total

442. Civilian
employment

Number unemployed
37. Persons
unemployed

444. Males
20 years
and over

{Thous)

(Thous.)

445. Females
20 years
and over

(Thous.)

Civilian lasor force participation rates
451. Males
20 years
and over

452. Females
20 years
and over

453. Both
sexes 16-S 9
years of age

446. Both
sexes 16-19
years of age

(Thous.)

448, Number
employed
part time
for economic
reasons

(Thous.)

(Percent)

(Percent)

(Percent)

(Thous)

(Thous.)

January
February
March

114,797
114,970
115,316

106,291
106,605
106,965

8,506
8,365
8,351

3,806
3,762
3,728

3,183
3,124
3,148

1,517
1,479
1,475

6,982
6,908
6,797

5,400
5,134
5,423

78.1
78.1
78.1

54.4
54.5
54.7

55.2
55.2
55.2

Apni
May
June

115,313
115,286
114,926

106,949
106,995
106,541

8,364
8,291
8,385

3,791
3,629
3,847

3,171
3,179
3,136

1,402
1,483
1,402

6,818
6,719
6,811

5,365
5,469
5,276

78.2
78.1
78.1

54.7
54.5
54.5

54.7
55.0
52.4

My
August
September

115,280
115,277
115,844

106,842
107,136
107,602

8,438
8,141
8,242

3,733
3,631
3,660

3,133
3,137
3,182

1,572
1,373
1,400

6,915
6,701
6,718

5,363
5,435
5,310

77.9
78.0
78.2

54.4
54.5
54.8

55.2
53.5
54.1

October
November
December

116,080
116,149
116,333

107,792
107,978
108,149

8,288
8,171
8,184

3,673
3,664
3,617

3,038
3,063
3,073

1,577
1,444
1,494

6,727
6,721
6,668

5,206
5,316
5,292

78.2
78.1
78.0

54.8
54.9
55.1

54.6
54.4
54.4

January
February
March

116,794
117,042
117,187

108,892
108,557
108,807

7,902
8,485
8,380

3,544
3,796
3,789

2,945
3,189
3,131

1,413
1,500
1,460

6,500
6,898
6,879

5,297
5,214
5,295

78.3
78.2
78.2

55.0
55.1
55.1

53.6
54.9
54.9

April
May
June

117,292
217,587
118,005

108,969
109,165
109,613

8,323
8,422
8,392

3,688
3,820
3,808

3,087
3,098
3,082

1,548
1,504
1,502

6,759
6,924
6,798

5,567
5,569
5,322

78.0
78.0
78.1

55.2
55.4
55.7

55.4
55.2
54.8

kiiy

August
September

118,117
118,124
118,272

109,887
110,067
109,987

8,230
8,057
8,285

3,811
3,634
3,805

3,010
2,994
3,015

1,409
1,429
1,465

6,684
6,518
6,739

5,222
5,259
5,303

78.1
77.9
78.0

55.8
55.8
55.7

54.5
54.8
54.8

Octobes
November
December

118,414
118,675
118,586

110,192
110,432
110,637

8,222
8,243
7,949

3,814
3,820
3,725

2,994
2,976
2,865

1,414
1,447
1,359

6,688
6,673
6,465

5,450
5,319
5,342

77.9
78.2
78.3

55.8
55.8
55,6

55.0
54.5
53.8

January
February
March

119,034
119,349
119,222

111,011
111,382
111,368

8,023
7,967
7,854

3,720
3,648
3,573

2,900
2,873
2,857

1,402
1,446
1,424

6,534
6,488
6,275

5,201
5,459
5,164

78.3
78.2
78.2

55.8
55.9
55.9

54.5
55.2
54.2

April
June

119,335
119,993
119,517

111,835
112,447
112,257

7,500
7,546
7,260

.3,409
3,436
3,437

2,715
2,680
2,588

1,376
1,430
1,235

6,018
6,052
5,998

5,110
5,029
4,918

78.1
78.2
78.0

56.0
56.3
56.1

54.2
55.2
53.0

July
August
Ssp Member

119,952
120,302
119,861

112,727
113,081
112,772

7,224
7,221
7,089

3,323
3,235
3,089

2,633
2,664
2,703

1,218
1,321

5,837
5,783
5,587

5,235
4,998
4,968

78.0
77.9
77.8

56.4
56.4
56.2

53.8
56.4
54.?

(Thous.)

1985

1986

198?

May

Ociobaj
November
Oecembe;

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

OCTOBER 1987




OTHER IMPORTANT ECONOMIC MEASURES
GOVERNMENT ACTIVITIES

Q
ederal Govern men
Year
and
month

500. Surplus
OF deficit

(Ann. rate.
bil, dol.)

I f f i DEFENSE INDICATORS

RECEIPTS AND EXPENDITURES

Advance measures of defense activity

State and local government"

501. Receipts

502. Expenditures

510. Surplus
or deficit

511. Receipts

512. Expenditures

(Ann. rate,
bit. dol.)

(Ann. rate,
bil. dol.)

(Ann. rate,
bil. dol.)

(Ann. rale,
bif. dol.)

(Ann. fate,
bil. dol.)

51?. Defense
Department
gross obligations incurred

(Mil. dol.)

525. Defense
Department
prime contract awards

543. Defense
Department
gross unpaid
obligations
ouislanding

(Mil. dol.)

(Mil. dol.)

548 Manufacturers'
new orders,
defense
products

(Mil. dol.}

1985
January
February
Marcti .

-162.9

795.3

958.2

65.1

563.7

498.6

22,492
20,377
20,346

12,449
12,432
10,360

174,180
173,704
174,338

9,173
6,278
7,810

ftpnl
May
June

-210.3

759.0

969.4

62.2

574.6

512.3

22,655
25,140
29,513

9,658
14,147
11,627

174,867
178,000
179,337

8,180
9,339
12,794

July
August
September

-195.8

794.9

990-8

62'.1

5S5.3

523.2

31,641
34,470
30,753

12,163
17,579
11,702

182,074
187,278
186,401

9,786
10,649
9,944

October
November
December

-215.0

805.1

1,020.2

62.9

594.6

531.7

28,629
25,809
30,768

10,584
10,086
14,088

185,059
182,400
183,504

8,727
6,808
10,734

January
February
March

-196.1

807.6

1,003.7

62A

608.1

546.1

28,411
30,247
30,969

13,424
9,318
14,368

185,822
188,008
190,756

8,502
9,193
12,214

Ann!
May
June

-230.2

816.9

1,047.1

55a

6ii!s

556.4

29,758
30,267
33,056

12,855
8,849
13,493

188,903
189,004
193,207

8,071
9,036
8,314

July
August
Sepiembef

-203.7

832.4

1,036.1

59.6

626^2

566.7

31,199
29,968
30,678

15,992
13,088
13,413

196,185
198,635
199,295

ID,062
r7,900
r!0,320

October
November
December

-188.7

852,5

1,041.2

50.6

629.1

578.5

?8,383
30,341
26,583

7,549
9,484
11,931

198,408
198,337
197,769

10,479
7,648

January
February
Match

-170.5

879.3

1,049.8

41.0

632.1

591.1

25,911
34,669
28,986

10,161
12,827
12,422

196,585
199,440
199,308

4,699
6,980
9,997

April
May
June

-139.2

92?.9

1,062.1

50.6

651.3

600.7

33,794
32,801
30,475

11,934
10,571
13,201

200,411
202,504
204,177

11,006
9,441
10,577

(NA)

(NA)

pi,063.7

{NA)

(NA)

p612.9

31,867
p3?,619
(NA)

14,980
p!4,499
(MA)

207,1*18
p209,556
(NA)

r9,923
r9,511
p9,0R3

1986

r8,326

198?

July
August . .
September
October
November
December

See note on page 80
Graphs of ihese series are shown on pages 52 and 53.
1

Based on national income ant! product accounts.




OCTOBER 1987

BCII

OTHER IMPORTANT ECONOMIC MEASURES
GOVERNMENT ACTIVITIES—Continued

I

£ | DEFENSE INDICATORS—Continue

Nationa defense
pure ases

Intermediate acid final measures of defense activity
tear
and
month

559. Mariefacturers' inventories, defense
products

557, Index sf
industrial
production,
defense and
space equipment
(1977 = 100)
Revised

(Mil. dol.)

(Mi!, doi.)

580. Defense
Department
net outlays,
military

(Mil, doi.)

588. Manufacturers' shipments, defense
products

(Mil. dol.)

570. Employment, defense
products industries

(Thous,)

Defense Department
personnel
577. Military
on active
(tot}'©
{Thous.)

578, Civilian,
direct hire
employment
(Thoys.)

564. Federal
purchases of
goods and
services,
national
defense
(Ann. rate,
bil. dol.)

565. Nationa!
defense purchases as a
percent of
GNP

(Percent)

January
February
March

163.6
165.1
167,2

27,846
28,378
28,439

147,994
146,726
146,560

18,762
20,058
2G,4S5

7,156
7,546
7,976

1,496
1,506
1,514

2,146
2,147
? 1&R

1,073
1,074
1,076

250!2

6.4

•

1

If?

1985

561. Maautacturers* unfilled
orders, defense
products

168.2
169.6
171.6

28,929
28,854
29,647

147,334
149,056
153,624

19,597
20,603
20,554

7,406
7,617
8,226

1,525
1,533
1,544

2,148
2,149
2,151

1,081
1,084
1,084

253.7

6.4

July
August
September

171.9
173.5
174.8

30,291
30,814
31,096

155,876
158,467
160,184

21,498
22,489
21,987

7,534
8,058
8,227

1,551
1,569
1,565

2,156
2,157
2,151

1,091
1,094
1,099

265 ! l

6.6

175.2
177.1
178.3

31,244
31,304
31,450

160,067
157,957
159,452

20,908
21,847
22,443

8,844
8,918
9,239

1,569
1,577
1,573

2,151
2,153
2,150

1,099
1,098
1,100

268'.2

6.5

178.9
178.0
178.6

31,787
31,471
32,467

160,175
161,009
164,969

20,152
21,586
23,342

7,779

8,359
8,254

1,568
1,569
1,568

2,157
2,160
2,160

1,103
1,087
1,084

266.6

6^4

179.8
180.2
180.7

32,962
33,329
33,549

164,580
164,951

22,101
22,921
21,954

8,460
8,665
9,118

1,580
1,585
1,563

2,150
2,150
2,143

1,081
1,072
1,060

278'. 2

6^6

164,147

July . .
August
September

182.4
183.7
184.6

33,618
r33,810
34,254

165,201
r!64,505
rl65,940

22,538
21,714
23,886

9,008
r8,596
r8,885

1,594
1,600
1,598

2,150
2,161
2,169

1,059
1,052
1,072

z&y. 6

6.7

October
Novfimber
December

185.6
185.5
186.2

34,560
34,409
33,873

165,006
165,613
162,605

22,324
21,168
22,512

9,260
9,872
10,656

1,598
1,600
1,600

2,177
2,181
2,178

1,069
1,063
1,059

279.0

6.S

January
February . . . . .
March . . .

187.3
188.9
188.6

34,164
34,220
34,093

159,028
157,615
157,738

22,243
24,096
23,259

8,276
8,393
9,874

1,597
1,594
1,592

2,179
2,172
2,168

1,061
1,067
1,070

28715

6.6

Aprsl
May . .
June

189.2
189.3
188.6

34,716
34,866
34,849

159,984
160,188
161,328

23,593
22,760
24,046

8,760
9,237
9,437

1,592
1,593
1,591

2,158
2,153
2,151

1,072
1,068
1,070

294,5

6.6

188.7
190.2
pl91.5

p36!053
(NA)

r!62,345
r-163,057
p!62,614

22,858
r24,340
p21,462

r8,906
r8,799
p9,526

rl,596
pi,603
(NA)

2,158
r2,167
p2,176

1,074
p i ,076
(NA)

p296.0

p6.6

October .
November
December

...

1986
January
February
March . . .
April
May
June

.

1987

July
August . . .
September
October
November
December . .

See note on page 80.
Graphs of these series are shown on p a f « 54 and 55.
!

See "New Features and Changes for This Issue," page iii.

inn

OCTOBER X987




OTHER IMPORTANT ECONOMIC MEASURES
E

I

U.S. INTERNATIONAL TRANSACTIONS

Q |
602. Exports, excluding
military aid shipments

604. Exports of domestic
@

606. Exports of non-

agricultural products

MERCHANDISE TRADE
612. General imports ©

electrical machinery

616. Imports of automobiles and parts

614. Imports of petroleum and petroleum
products

Year
and
month

(Mil do!.)

(Mil. do!.)

( M l del.)

(Msl. do!.)

(Ms!, dol.)

(Mil. dol.)

1985

17,428
17,846
19,765

2,945
2,842
2,436

4,247
3,970
4,160

28,836
25,941
28,725

4,005
3,833
3,411

4,033
4,999
4,243

17,984
18,915
18,068

2,624
2,215
2,218

3,970
4,073
3,952

28,572
29,302
30,136

4,936
5,237
4,842

4,350
4,073

16,553
16,401
16,790

2,184
2,347
2,080

3,615
3,897
3,777

27,000
26,247
31,349

3,342
3,252
4,041

4,161
4,489
5,555

17,868
17,743
17,417

2,351
2,446
2,426

3,694
3,918
3,730

28,429
30,010
30,728

3,811
4,367
5,079

4,198
5,461
5,758

17,041
17,401
18,557

2,320
2,283
2,135

3,854
4,294
3,740

30,090
27,521
29,403

4,978
4,254
3,578

5,044
5,378
5,018

18,001
18,270
19,092

2,043
1,960
1,819

3,981
3,644
3,582

30,898
30,034
30,942

2,084
2,718
2,731

5,044
5,054
5,535

17,346
16,895
17,530

2,062
2,231
2,111

3,585
4,091
3,812

31,848
29,482
30,808

2,483
2,225
2,435

6,242
6,280
4,909

19,562
18,411
18,523

2,447
2,204
2,352

3,932
4,138
4,227

32,771
32,413
29,854

2,155
2,788
2,299

5,790
7,156
5,483

16,753
19,359
21,775

1,926
2,047
2,157

3,452
4,404
4,09S

27,466
32,307
33,197

2,269
3,598
3,513

4,882
6,322
5,329

June

20,496
20,781
21,126

2,234
2,410
2,445

4,122
4,176
4,338

31,983
33,313
35,266

2,842
3,685
3,375

5,516
6,093
5,823

July
August . .
September

21,005
20,221
{NA)

2,956
2,520
(NA)

4,260
4,420
(NA}

35,844
34,320

4,125
4,574
(NA)

5,800
6,008
(NA}

January
February
March
Aptt!
May
June
July
August
September
October
November
December

4,932

1986
iantiafy
February
Marcti
April

.

.

May
June
July
ftugysl
September .
October
November
December

..

1987
January

..

February
March

. . .
. .

April
May

.

October . . .

November
December

im

...

See nate on page 80.
Graphs ef these series are shown on page 56.

92



OCTOBER 1987

OTHER IMPORTANT ECONOMIC MEASURES
E

1

U.S. INTERNATIONAL TRANSACTIONS—Continued

Q

|

GOODS Am $££V/C£S MOVEMENTS (EXCLUDING IHANSfiRS UNDER MltlTARY GRANTS)

Year

6G7.

668. Exports

Balance

Income on investment

Merchandise, adjusted

Goods and services

622. Balance

669. Imports

618.

620. Imports

fxports

651. U.S. investment abroad

and
month

(Mil. dol.)

(Mil. do!.)

(Mil. dol.)

(Mil. dol.)

(Mil. dol.)

(Mil. dol.)

(Mil. do!.)

652. Foreign
investment in
the United States

(Mil. dol.)

1985
January

-22,918

87,845

110,763

-24,882

55,064

79,946

18,530

16,359

-25,858

89,526

115,384

-29,946

54,040

83,986

21,931

16,670

-24,370

91,043

115,413

-31,206

53,367

84,573

24,174

16,055

-27,944

91,047

118,991

-36,114

53,464

89,578

23,665

13,818

-30,019

92,134

122,153

-34,978

53,878

88,856

24,076

17,651

-29,588

93,540

123,128

-33,651

56,928

90,579

22,013

17,426

-32,249

February

93,241

125,490

-37,115

56,534

93,649

21,333

15,994

-33,839

93,891

127,730

-38,595

57,021

95,616

20,787

16,295

-33,681

98,953

132,634

-38,757

56,992

95,749

24,960

19,450

p-38,193

p99,981

p!38,174

p-39,525

p59,975

p99,500

p22,351

p20,743

(NA)

(NA)

(NA)

.

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

.

1986
January
February
March
April
May

...

tune
July
Angus!
Septernber
October

.

November
December
198?
January
February
March
April
May

.

June
July

(NA)

August
September

(NA)

{NA}

<*>

(NA)

Odobei
November
December

See note on page SQ
Graphs of these series are shown on page 57.
1
Balance of payments basis: lixcliaios transfers under military grants and Department of Defense sales contracts (exports) and Department
oi' Defense purchases (imports).

IICII

OCTOBER 1987




93

OTHER IMPORTANT ECONOMIC MEASURES
F

I

INTERNATIONAL COMPARISONS

Q |
47. United States,
index of industrial production
Year
and

72I.QECD1
European countries, index of
industrial
production

728. Japan,
index of industrial production

INDUSTRIAL PRODUCTION

725. West
Germany, index
of industrial
production

726. France,
index of industrial production

727. Italy, index
of industrial
production

722. United
Kingdom, index
o! industrial
production

723. Canada,
index of industrial production

month

(1977 = 100)

(1977-100)

(1977=100)

(1377=100)

(1977 = 100)

(1977-100)

(1977-100)

(1977-100)

Revised*
1985

143.0
143.4
141.9

110
109
110

101
105
107

106
106
108

102.8
111.5
111.7

122.5
122.7
123.7

144.9
147.4
144.9

110
111
112

104
107
104

109
108
108

107.6
108.5
111.1

123.0
124.2
125.5

147.2
145.5
144,5

114
112
112

107
107
107

107
108
110

107.3
105.8
110.6

125.1
126.4
126.8

144.8
144.2
144.6

116
116
111

107
109
104

109

107

106.9
110.9
106.6

127.2
127.6
127.9

112
113
112

144.6
144.8
144.8

113
113
113

107
105
105

108
110
109

108.4
110.9
113.8

127.6
128.1
125.5

124.7
124.3
124.1

115
111
114

144.4
144.2
144.5

117
112
116

109
104
108

111
109
rlO9

114.9
108.7
113.9

128.9
126.9
125.5

124.8
124.9
124.5

115
114
114

144.2
141.9
145.8

117
116
114

109
109
109

rill
11
1
11
1

111.1
110.0
109.8

126.8
125.6
126.3

125.3
125.7
126.8

114
114
113

143.8
141.9
146.0

116
114
112

109
107
107

11
1
11
1
rill

111.0
112.2
111.1

126.2
126.2
128.5

126.2
127.1
127.4

112
114
115

145.5
144.6
147.1

111
113
112

104
108
109

ill
rll3
13
1

111.5
114.8
117.3

128.0
129.4
130.2

127.4
128.2
129.1

115
rll6
rll6

145.1
143.4
149.0

116
116
114

108
109

r!13
rll4
112

115.2
r!19.3
pll5.2

130.0
r-130.5

pllS
(MA)

t«A)

rl32.3
pl33.8
{NA)

122.4
122.9
123.3

108
110

123.1
123.7
123.5

no

123.4
124.1
124.4

m

September

October .
November
December

123.7
124.8
125.4

112
114

126.4
125.5
123.9

January .
February
March
April
May
June
iuiy
Augusl

. .
....

in
in
in
in
112

no

no

19SG
January
February
March
Apni
May
June

.

. .

.

....

July
August
September
October
November
December

....
... .

1987
January
February
March . .
April

.. .

May
June

130.6
131.0
pl31.2

iuiy
Augusl
September

(NA)

P149.8
(NA)

pll2
(NA)

pill
(NA}

rl32.2

October
November

. ..

December

.

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

'Organization for Economic Cooperation and Development.
i
See "New Features and Changes for This Issue," page iii.

94



OCTOBER 1987

IICII

OTHER IMPORTANT ECONOMIC MEASURES
F

I

INTERNATIONAL COMPARISONS—Continued

Q j

Vear

320. Index ©

and

320c. Change

738. index ©

OVSF 6-roonth

spans1

month

(1967 = 100}

West Germany

Japan

United States

(Ann. rate,
percent)

(1967 = 100)

CONSUMER FRiCES

738c. Change
over 6-month
spans'

(Ann. rate,
percent)

735. Index @

(1967=100)

United Kingdom

France

?35c. Change
over 6-montN
spans1

(Ann, fate,
percent)

736. Index ©

(1967-100]

736c. Change
over 6-month
spans'

(Ann. rate,
percent

732. Index ©

(19S7 = 2GO)

732c. Change
over S-month
spans1

(Ann. rate,
percent)

1985

316.1
317.4
318.8

August
Sepfembei

.

.

October
November
December

5.5
5.5
6.0

578.0
582.7
588.1

8.2
8.3
8.5

4.1
3.6
2.7

321.9
323.3
323.5

1.6
1.7
0.9

212.9
213.1
213.3

1.6
0.9
0.2

462.2
464.5
466.4

5.8
5.3
4.7

600.6
603.4
604.7

7.3
6.6
4.7

322.8
323.5
324.5

2.8
3.2
3.4

323.a
320.7
323.8

2.2
2.4
1.7

212.9
212.2
212.6

0.0
0.2
1.1

468.2
468.7
469.2

4.1
3.9
3.3

603.5
605.1
604.8

2.8
2.7
3.1

3.7
2.8
1.7

328.4
325.0
325.2

1.1
1.9
1.0

212.9
213.3
213.5

1.0
0.3
-0.2

470.6
471.5
472.1

2.7
1.7
1.4

605.8
607.9
608.7

4.0
3,6
3.6

0.4
-0.1
0.1

325.8
324.4
323.5

-0.6
-0.2
-0.6

213.8
213.3
212.8

-0.5
-Q.8
-1.3

472.6
471.7

472.9

1.6
1.1
1.3

610.0
612.2
613.0

3.2
2.8
2.0

-0.5
0.4
1.8

324.7
326.9
325.2

-0.6
0,4
0.4

212.6
212.6
212.9

-1.8
-1.0
-0.7

474.7
475.6
477.0

1.3
2.3
3.0

619.0
620.1
619.8

1.0
1.1
2,3

328.0
328.6
330.2

2.7
2.7
2.2

324.4
323.8
325.4

-1.0
-0.3
-0.5

211.9
221.4
211.7

-1.1
-1.5
-0.8

477.5
478.0
479.9

2.8
2.9

618.0
619.9
623.0

2.8
4.2
5.7

3.5
4.1
4.3

325.7
324.1
323.5

-2.0
-2.2
-0.2

211.0
210.8
211.2

0.0
0.0
-0.1

480.9
481.4
481.9

4.5
4.3
3.5

623.9
629.2
631.3

6.8
6.8
5.6

4.8
5.0
5.4

322.2
322.2
323.5

2.4
0.4
1.4

212.1
212.2
212.2

1.3
1,6
1.2

486.2
487.2
487.7

4.0
3.9
3.2

633,7
636,2
637.5

5.4
3.9
2.5

337.7
338.7
340.1

July

453.5
455.8
459.0

333.1
334.4
335.9

June

3.4
3.4
2.4

330.5
330.8
331.1

May

211.0
211.9
312.6

325.3
326.3
327.9

April

2.2
1.3
1.4

328.4
327.5
326.0

.March

321.3
318.7
320.2

325.5
326.6
327.4

February

3.7
4.0
4.2

320.1
321.3
322.3

January

4.5
4.6
4.1

326.4
327.0
326.3

2.2
4.0
(NA)

212.8
212.9
213.3

1.7
1.8
0.9

490.3
491.2
492.1

2.1
2.3
{NA)

645.1
645.7
645.7

2.2
2.0
2.8

1986
January
February
March
Aprsl
May
ftine
My

.

Augusi
September
October
November

Gecemte

2. a

1987
January
February
March
April
May
June
July
August
September
October

340.8
342.7
344.4

324.7
326.3
(NA)

213.3
213.1
212.6

493.3
494.3
(NA)

645.2
647.1
649.0

.

Movember
Oficembe;

Ses note on p g 80.
ae
Graphs of these series are shown on page 59,

"•Changes over fj-month spans are centered un the 4th month.

OCTOBER 1987



QE;
DO

OTHER IMPORTANT ECONOMIC MEASURES
F

I

INTERNATIONAL COMPARISONS—Continued

Q

Canada

Itay
Year
and
month

737. Index ©

| | £

CONSUMER PRICES- Continued

737c, Change
over 6-month
spans1

733. Index ©

733c. Change
over 6-monfh
spans1

STOCK PRKES

19. Unsted
States, index
of stock
prices, 500
common
stocks ©

748. Japan,
index of
stock
prices (u)

745. West
Germany,
mdex of
stock
prices ©

746, France,
index of
stock
prices ©

742. United
Kingdom,
indeKoi
stock
prices ©

747. Italy,
index of
stock
prices @

743. Canada,
index of
steek
prices 0

(1967 = 100)

(Ann. ra!e,
percent)

(1967-100)

(Ann. fate,
percent)

(1967-1G0)

(1967=100)

(1957=100)

(1967-100)

(1967 = 100)

(196/= 100)

tfech

744.2
749.4

10.7
11.1
10,4

341.3
343.5
344.3

5.3
4.5
4.0

186.7
196.8
195.2

839.5
851.9
900.4

195.1
202.0
213.4

336.4
352.0
363.4

578.1
585.1
592.3

147.2
164.1
165.0

293.2
293.2
295.2

April
May
June

756.1
760.6
764.4

10,0
9.4
8.5

345.7
346.5
348.3

3.4
2.9
3.6

196.5
201.1
205.5

880.3
890.6
915.0

212.5
218.7
234.2

375.5
384.0
385.0

592.0
607.0
591.3

164.4
188.7
199.0

297.8
309.2
306.5

July
August
September

766.7
768.2
771.3

7,5
6.0
7,0

349,5
350.1
350.5

3.1
3.4
4.7

209.4
204.8
200.2

941.6
915.9
915.0

234.8
237.4
253.2

367.4
361.7
356.7

568,4
597.0
605.7

212.9
229.8
246.4

314.0
318.6
297.4

October
November
Dscember

780.6
786.1
791.6

6,2
6,2
6.2

351.7
353.1
354.7

5.2
5.0
4.6

202.5
214.8
225.5

930.9
910.7
933.9

273-6
293.2
294-9

343.5
387.7
407.5

617.4
652.0
644.5

251.1
263.9
285.2

302.2
322.8
327.8

January
February
March

795.6
801,2
804.4

5,8
6,8
5.5

356.3
357.7
358.5

4.5
4.8
2.9

226.5
238.6
252,7

936,5
964.8
1,052.3

327.1
320.8
329.6

438.3
468.6
514.8

647.8
690.0
755.0

303.8
343.9
430.2

323.2
322.7
344.3

April

May
June

806.8
809.9
813.1

5.5
5.7
4.8

359.1
360.7
361.3

3.0
3.5
3.7

£58.9
259.4
266.8

1,116.7
1,144.6
1,203.9

345.8
318.7
313-8

590.3
600.2
537.2

780.6
756.2
764.9

512.3
580.0
485.1

347.9
352.8
348.6

July
Angus!
September

813.1
814.7
817.1

4.0
3.6
3-6

363.9
365.1
365.1

4.4
4.6
5.4

261.3
266.5
259.2

1,262.7
1,354.5
1,361.4

293.2
316.3
327.2

580.0
605.1
603.4

755.5
750.0
767.2

483.2
562.7
554.7

331.7
342.2
336.6

Delete
November
December

822.0
825.3
827.8

4.1
3.0
3.9

366.9
368.9
369.5

4.4
3.9
4.7

258.2
266.6
270.4

1,280.3
1,297.0
1,406.4

322-1
325.2
331.9

609.7
616.6
652.2

750.7
774.1
779.4

557.1
546.3
514.8

343.4
344.3
346.5

January
February
March

832.8
836.1
839.4

4.5
4.9
4.7

370.3
371.9
373.5

4.4
4.6
4.1

287.7
305.6
318.1

1,492.7
1,577.3
1,675.5

308.8
285.2

288.5

642.1
660.1
70S.1

841 .0
917.9
973.1

526.7
502.9
501.9

378.4
395.4
422.5

April
May
June

841.9
845.3
848.7

5.1
6.4
(NA)

375.3
377.3
378.5

5.2
5.?
4.8

314.7
314.5
327.8

1,856.7
1,937.3
1,965.7

304.1
302.3
313.7

725.9
703.5
664.6

r957.2
rpl,042.4
rpl,100.4

533.2
533.4
p521.5

420.0
416.4
422.6

My
August
September

851.2
853.8
(NA)

337.3
358.3
346.6

pi,863.3
pi,970.5
rpl,964.9

327.7
340.7
330.0

691.9
704.9
rp724.9

rpl,158.S
rpl,105.0
rpl,125.4

p508.1
p469.8
rp459.6

455.4
451.3
440.9

P297.5

pl,961.1

p309.6

p634.8

pl ,058.8

p469.8

p395.2

(1967 = 100)
1985
736.8

January
February

1986

1987

381.3
381.5
381.5

October
November
DscembeF
See note on page 80.
Graphs of these series ate shewn on page 59.

Changes over 6-month spans arc centered on the 4ih month.




OCTOBER 1987

C. Historical Data for Selected Series
Jan.

Year

Feb.
62.

May

Apr.

Mar.

INDEX

OF LABOR

COST

PER

July

June

UNIT

OF O'JTFSIT

,

Aug.

Nov.

Oct.

Sept

MANUFACTURING-- ASTiiAi,

Dec.

1 Q

IV?

( 1977*100)
57,6
fiD. 1
5 8.2
58.5
61 .5
64.5
62.7
62.1

57.7
69,3

5$,2
60,3

58.2
to.3

5B.1
60.1

58.3
59.5

58.3
58,9
61.1

57,7
59.3
61.4

57 ,6
59 .4
61.7

64,9
62,3
62.8

65.5
61.3
63.5

57.5
60.2
61,6
63.7

6 1.9
6 fi . !

62.3
(54,5

6 5.7
63.2
63.0
62 . 4

63.5
63,3
62.7
62.7

65,6
61 , 8
63.9
64.7

57.5
59,8
61.9
64.8

58. 1
59.4
57.7
62 .3
61.8
63.9
63.3
6i. 2

65.6

1953..,
1?54...
1955...
1956...
1 9 5 7....
1958,..
1959...
I96 0 . . .
1961...
196!.,.
3 96 3 . . .
1964...

64.3
64.0
62.1

64.2
64.4
62.0

63.6
63.7
62.7

e;.4
61.7

60.9
61.3

60.8
61.8

62.2
60.6

62,4
60.7

62.2
60.2

61.8

62.1

63,3
65.1
67.0
72.0

63,9
65.3
67.3
72.6

63.5
65.7
67 . 8

63.8
65,6
68.5

64.2
66.0
68,6

62.1
6i.7
66.4

7;,5

73,2
72.7
7 4,4

73.3
73,0
74,7

72.3
73.1

72 .6
73.3.

7J.4

Ti.2

72.9
75.4

73.1
75.2

80.8
91.8

80.9
94.0

8- . 6
93.2

81.9
94.1

82.5
93.4

94.4
97.9

95.6
98.4

9ft.0
98.5

95.6
99.3

96.2
iOO.O

96.2
J00.4

105.2

IO5.6

S04.3

104.7

104.7

',05.3

110.0
118.7

!SO.7
119.7

112.1

in.9

ti2.9

129. [
140.6
140.6
134.7
1 37. !
S37.6

129.8
Hi 1.7
139.6
134.5
'i 37 .2
139.3

12.J.0
133,0

125.0
131-5
143.3
138.!
134.9
\37,0
138.1

!26.6
5 32.0
1&3.6
137.7
134,4
1 37.9
138,0

63.5
63.2
62 . 0
hi. y

ms...
1966...

61,0
63,1
64.7

3967...
1968.,,
1969..,
1970...
1971...
1972. . ,

67.3
72.3
73.1
71.9

1973.,.
1974...

73.9
SO.5

1975...
J 976 . . .
!977.,.
1978., ,

91.3
95.2
97.3
103.5
309 . 4

1979..,
1980,,.
1981...
19S2...

118.5
129.7
142.5

1983...
1984...

541.5
5 34,5

5985..,
1986...
1987...

138.0
137.3

1955,..
1956 . . ,
1957..,
1958...
J959...
1960...
3 96 1 . . .
1962.,.
1963.,.
1964...
1965...
1966...
1967..,
1968...
1969...
1970...
1971, . .
1972,,.
1973.,.
1974...
5975. . .
1976...
1977...
1978...
1979...
1980...
1981..,
1982 . . ,
1983.. ,
1984...
1985. . .
1986 . , .
1987 . . .

n.2

[

138.9
135.0
137,2
537,6

IN3EX

Oi> ?,AK0R

COST

SOI .2

101.2

103.3

103,5
98.4
9 7,4
98,9
103.6

97.2
97.9
99.3
104.4

98.4
98.2
102,6
99.4
100.6
101.6

98.3
99.2
102.3
99.6
100.3
102.2

100.1

<!?.?.

98,7

98.4
98.9

97.6
99.6

99.5
101.4

100.0
100,7

100.2
100.9

105.5
103. 1
97,1

104,7
103.0
97,8

95.4
9S.6
104.9

OUST

103.4

48.4

PER

101.9

97.0
99 . 7
i 03. 3
99.5
97.2
102.4
99.8
100.7
100.8
(00.0
91 .6

103.0
99.2
99.1
9S.3
100,0
103.2
107 . 3
104, S
98.3
100.6
100.3

Of

3 0.9
43.?
36 .4
34,3
3 8.1
37.2

64 ,2
63,3
63,6
62.4

IV Q

Annual

62,9
63.6
62 . 3

62.5
60.5
62.7

60.6
62 .6

64,6
66.3
69.2
72.8
74. i
7 ! .9
75.6

64.3
66.8
69.6
72 .7
12.7
73.1

63 . 8
67 . 3

84.1
93.5

75.8
84.1
93.7

96 .9
100,2
105.2

RAOE

58.2

FOR

fEBIOD

58.0
59 , 3

59.5

56.4

59,5

59.8

57.9
61.3
61.9
63,7
64.0
6 4,3

58,4
61.3

5S.C
60.3

63,3
63,7
62.5

62.8
63.4
62.4

62.3
60,7
61.9
63.8
65.8
68.3

62.5
60.4
62,5
64.5

62 . 0
60.9
62.9
63.8
67.1
70.4

72.5
73.3
72.8
75.3

72,7
73.3
73.0
75,7

72,B
72.4
73.0
7 7,4

63.9
66,1
68.8
72.6
73.1
72.8
75,7

82 . 0
93.6

84.0
93.4

87.6
94.2

83.6
93.4

95.1
97.9
04.8

95.9
19.3
104.6

95.7
100.b
105.4

97 . 0
102,2
107 . I

10.0
19,0
29.5
45 ,4
40,6
34.6

112.3
S24..5
531.5
143.0
13S.2
134.8

114.6
126 . 3

116.7
127 ,5

132.5
143.2
535.2
135,0

137,3
143.8
135.7

37.4
38, 1

137,4

136.4

103.9
100.4

iOS . 4
103.4

5 01.4

96 . 6
99,9
10 2 . 5

= 8.0
97 . 4
99,3

9d .6
98.3
99.5

96.8
100.2
99.5

100.2
98.2
101.t,

103.7

502 .9
9J.5

101.0
5 00.6

100.3

98,4
100.8
iOl.9
100.8

107 ,4

500.3
99.2

61.8
6 1.0

61.5
60.7
62.4

63,3
63.7
66.8
70.4
72.9
72.2

59.3
53.2
61.5
64. I
63.4
62.7
65.5
62.6
63.4
62,7
61.8
60.9
62.9
63.9
67,1

76.3
85.7

?2.9
77.0
87 . 0

71.0
72,7
72,8
73,2
79.0
90.0

97 . 0
101 .2
LO5.8

93,9
96.6
10! ,8
106 .5

94.0
47.1
1G2.?
107-3

94.6
97.2
102.6
107.6

114.3

115.4

135.5

ii6.7

117.8

126,6
132,5
143. }
134. 8
134,8
S37.7
S37.8

126. 3
134.0
143.3
134.4

127 , 1
135.6
J43.8
134.9
135 ,9
139.8
13S.8

69.9
72.7
J2.2
72.8

135.8
137.6
131.8

57,8
60.2
58,1

98. 1
99 .5
102 . 0
99.4

62,9
64.7
64.7

63.7
62.5
62.7

60.4

102.3
iO1.3

58.0
61.3
62.6

27 . 0
37 . 3
43.5
36.0
36. 1
38,3
37,6

128.5
138.9
5 14. 1
136.3
137.0
138,8

58.9
61.3

60,0
57,5
59.8

61.7

65.0
62 , 4
62.8

64.7
61,9
64.2

65.6
63,3
6 3.0
62 . 1

64.4
64.5

61.2
61.3
63,4
65.0
67.2
72 . 3
73.2
72.5
74.3
80.6
92 . 4

62.0

63.5
63.0
64.1
65.0

66,5
69,2

136,3
S39.O
137 , 6

137.8
137 . 6

137.9

38,361
32,254
23,715
26 , 2 9 3

1958,..
1959...
I960..,

98.8
100.7
101,4

9S.5
9 8,0
99.1

98.5
98.'S
99.i>

100.4
302,1

100,9
102,0

105.3
502.8
97.8

304.9
102.3
96.7

104.3
102,3
97.0

304.5
101,7
96.9

95.6
98.9
104.9
£02.6
99 .3
100.2
98.3
99.6

95.6
98,5
106.9
Utf.i
99 .7
100.0
98.4
99.9

95.9
98.8
105.5

95.8
98.6
106.0

102.3
98.8
98. 3

102.2
105.5
103.4

102.3
105.6
102.6

99. 5
305 . 4
102.S

98.4
9 9.9
100.3

9S.2
100.0
101.5

98,6
100.0
100,3

DEFENSE

64. 1
63,5
64. 1
64,0
63.6
62.5
62.3
60,8

*2.i

96,2
JOO.O

105.4
113.4
524.3
132.7
142.9
137.1
535.2
137.9
1 37 . 8

34,907

23,041
24,506
14,304

22 , 9 3 1
24,659
24,036

1964.,,
1965...
1966...

23,003
13.4 3A
27 , 2 7 5

1967.. .
1968...
1969...
1970...
3971...

35,350
36,616
39,531
32,561
30,181

23,777
23,466
27.62!
3 5 , 7 19
37,236
39 , 147

23,595
23,698
28,355
3S , 6 6 8
37,490
38,472

1972...
1973...
1974...

32,879
34,280
37,446
40,052
4!,159

32,041
30,851
32,832

31,494
30,545
3 2 , 7 4-2

30,979
30,737
32,976

34,426
37,6!3
39,875
41,459
50,?29
58,40!

34,976
37,817
40,198
43,866
50,761
53,986

35,140
3 8 , 4 56

49,455
7 1 ,665
83,608
102,677
1Z3 , 8 0 3
145,648
5 7 3 , 7 04
188,006

67,663
73,179
84.883
105,418
125,570
150,842
174,338
190,756

69,360
73,912
84,994
1(SS,4ZR
126,165
149 , 3 6 9
174,867
18&,903

185,822




29,435
24 , 536
25,857
22 , 7 6 8
2 3,532
21 , 0 4 2
2 2 , 7 18
24,939
2 3 , 6 02
23,557
23,762
29,597
35.296
36,9!4
37,656

42 , 4 9 4
5 1 , 2 36
59,348

102.1
99.4
101.5
99.5
100.2

TBENt

99 .6
500.7

99,6
100.4

500.9
100.1
99.2
100.4

101 . i

S00.8

101 .7
97.5
98.2

102 , 1
97.8
98.9

100.2
101.4

99 .6
101.5
100.9
98. 7
100.8

105 . 4
100.6
98.8

105 , 6

r o i .8

97 . 8
98.6

100.9
£02.0
9? . 8
98. 1

98.9
100,5
100.9
100,9
98.0
9 9.4

99.9
SOl.t
102 . 3

99.2
101.7
102 . 6

98.3
102 . 3
5 02.8

98. 3
10!,2
10 3 . 3

103.8

103.5
98. 1
95.0

103,5

101.2
96 .5

104.3
102 .!)
95.9

95,2
98.£
104.fi

95.3
99.5
103. a

95.0
99.5
10 3 , 7

95.6
101. ]
102 ,7

97,8
103.9
102 .9

mi,/,
99.1
98.1

101."3
99.3
97.6

101.0
99,2

99 .6
98.7
97 .2

98.8
104.1
102 . 6

101.2
98.5
97 .0
99 .0
103.1
102.0

100.0
98.9
97 .2

98.4
S03.3
102 .7

97.5
99,2
103.4
101.2

95. I
100.2
103. 1
100.1
99.0
97,3
99.0
102 .6
103.4

99.5
1.02.0
104,2

99.9
102 .7

105 , 7
100.1

so;.6
98.8
98.3
1110.4
100.4

iO).?
99.5
99.2

1M.I

9 7.9
500.7

S06.5
101.4
98,4
99.9
!00,7

102,0
S04.3

106.3
101.5
98.0
100.5
100.6

DEPAR TMEN1

22 , 7 9 5
24,633
24,53!

1986...

96 .6
99.9
100.4

100.5
101,5
99.7
107 . 0

196 1 . . .
1962 . . .
1963...

1985...

iOl . 1
305 . 0

96.9
99 .2
99 . 4
100.8

100.6
100,8
99.7
101.6

22,051
23,663
21,509

7 1 , S76
82,087
98,818
522,62S
142,169
!7 4 , 1 8 0

1DD.3

96.8
99.4

97.7
100.7

35,974
30,030
J4 ,526
26 , 129
22 . 3 6 9
23,682
2 1 ,203

66,702

IDJ . 7

97.5
100,4

36,587
31 , 2 9 3
33,685
7.6 , 5 8 1
2 i ,957
13,641
2 ! ,314

49,258
57,304

1OS. 3
96,6

96.4
98.8
99.2
i 0 i .2

106.0
102.0

_

01.6

I

10] ,5
99.0
98.2

OF

AVESAOE FOR

,

100.4

96.6
98.3
99.8
103,1

1 00,6
99.2

Ptiscrsi

AS A

i 00 . !

102,8

104.5
97 ,4
99.8
101.1

ACTS'AS. S14TA

100.8

96 .9
97.9
99-6

I

1953 . . .
1954..,
1955...
1956,,,
5937...

1979..,
1980.. .
1981.. .
19S2 . . .
1963...
1984, . .

14.0
26 . 3

iiO.S
62 . 0
63.5
64.2

59 . 4
59.7
59.0
6 1.2
63,7
62 . 8
64.8
&5 . 3
63.0
63.3
62 .2

58.6
59.4

58,!
58,9
58.1
60.8
6i.9
63.6
64.6
04.5
63.0

!0§.4

101,3

R5QSS

(KltLIOHS

1 975 . . .

93.1

OUTFOT, MAUD FACT!1 R1 N(i(PERCENT)

1 0 ! .6
(03, 2

543,

1976...
1977.
1978.,,

68.8
72.7
73.2
73.5
75,6
83.6

57,8
59.7
57,9

iiiQ

j
62.

1953...
1954...

63 .9
61.9
62.2

11 Q

t ATA'

£00.0

UNPAID

JBLIGATIOBS

100.8
3 01.1
102.4

99.T
95 . 8
94.9
99.3
103.4
500.8
99 . 0
97 . 1
99.4
102 .2
102 ,7

Ifl5.7
9B.5
99.0
100.3
100.4

1$. 3
94.8

106,0
98,8
9 9.1
101.9
101.2

iOO.S
100.3

97,6
98.6
98.3
I 1! 1 . 4
103.8
302 .9
98 . ?

94, a

105.0
99.7
99 .9
301.2
99,4

98 .6
98.2

50!.5

99 . 8
97.9

100,7
SOl.O
99.5
101.7
93.7
98.2

99,1
99.9
10 5 . 0

99.2
100.7
101,8

505.2
1 0 3 . 1)
97.6

104.6

99,6
S00.5
105.5

95.5
98.7
105 .6
SC2.3
99.2
99 . 8
98.3
99.8
S02.6
iO6 . J
10 3 . 4
98.3
500.2
100.6

51,118
3 3 , 5*7
26,919
25,440
24,762

23,330
23,456
2 i , i48
22 , 5 3 9
24 , 5 1 5
23,i26

24,666
24,00?
22 . 9 5 5
22 .707
24,242
22,824

23,914
•2^,'ihi
30,322
36,683
37,622
36,855

23,043
24,65]
32,030
37,4!7
38,42!
35 , 4 4 5

3O,?79
3!,09S

30,767
29,077

32,772
35,693

32,417
35,877

3 8 , 389
40,086
42,970

38,909
40,959
4 3 , 6 12

5 0,051
25^93

45.535
7 3,'442

33 ,hT3

23,911
26 , 4 6 3

23,532
26 , 168
22,107

23,555
22,558
23 . 2 5 T
2 3,94 5
24,179

2 3,684
22.452

34,154
36,249
39,104
34 , 4 1 4
3 0,22!
3 3,06 9
33,350
36,666

36,625
39,960
33 ,6 13
29 , 9 3 8
30,6 7!
33,985

39,621

36,385
39,894

24,24!
24,547

42 , 5 5 8

43 , 6 6 3

60,549

61,833

62,028

62,730

67,783
74,25i
85 , 165
SOS,841
126,532
U9,452
178,000
189,004

67,996
74,592
86 , 126
109,454
139,720
151,538
179,337

6 8,662
7 4,870
87 , 9 6 8

7 9 , 2 19
75,133
89,85 7

70,629

no,sat
133,572
152,828
182,07 4
19 , 185

40,050
33,286
2 3,374
26 ,'; 1 8

98.7
100.7
101.2
101.2
97.8
98.7
98,2

97.7
9 8.6
99.8
10S T 4

101.6

102.3

102 . 0
97.1
98.9
100.0

101.8
99,3
100. 3
S00.3
100,4
too.*
101,6
98.5
98. 3
99 . 1
100.9
102 . !
5 04,3
101.2
96.3
95 ,6
99.6
104,4
101.2

96 .9

103,3
103,3
98,6
94.9

95.6
98.7
105.4

95.1
99.4
103.6

96.2
101.7
102 . 9

105.7

101.0
98.9
9J.2

99.9
98.9
97.2

99.2
105.9

99.5
302,4
104.2

98,9
102 . 0
102 . 9

105.9
99.3
99.4

106.0
100.8
98.6

501.3
100.3

100.5
100,4

40,050
3 3 . 166
23 , 374

40,050
33,!86
2 3,374

26,538
22,062
23,755
21,599

26,518
22 , 0 6 2

mi .1

99 . 1
98.0
98,8
102 .9
102.7
1 06,3

102,0
105.7
99.1
98.4
100.5
109.3

101.5
98.3
100.1
iOO.5

22,540
2 3,755
22 , 323
2 3 , 2?t>
23,955
24,831

22,062
!3,755
2 1,599
2?,866

99.0
98.0

35,974
30,030
74,526
26 , 129

26,919
25,440
24,762

23,95 1
26 , 4 6 3

22 , 3 6 9
2 3 , 6 82

24,666
24,007

I i , 21)1

22,955
22,707
24,212

23,555
22,558
23,357
23,945
2 4,179

24,522
2 4,43 0
23,050

22^931
2<.,659
2 4,036
23,595
23,698

23 , 2 7 5
2 6 , 7 46
35 , 0 6 4

36,993
4 0,178
33,234

36,831
4 0 , 127
32 ,9 12
30,085
. 1 ,4^0
3
34,255

3 7,033
39,587
32,781
3 0,07 7
31 , 0 4 6
31,225

36,869
39 , 7 7 2

3$,839
40,137

34,976

4 1,3 09

47,385

43,497

40,198
41,866
5 0 , 761
58,986
67 , 6 6 3

29 , 703

39,429

1)0.787
130 , 8 2 9
156 , 2 7 1
18?,278
59 8,635

7 6 , 7 45
91 , 8 9 6
111,9^7

133,056
156,950
186,40
199,395

47 , 3 6 6
6 3,006
63,757
77 , 7 7 7
91,354
1M.S66
131,130
159,226
385,059
198,408

J8.-555
35,668
37,490
38,472
31 , 4 9 4
30,541
32 , 7 4 2
37,817

63 , 4 4 0

64,470

69 ,95 0

70,006
79,936
93,827
113,788

73,179
84,883
105 , 4 1 8

141,820
172,010
183,504

!97 ,769

7 9 , 183
92,575
133,64.?
139,062
168,321
182,400
39

,33!

PERIOD

4 7 419

2 3,042
26,496
34,942

31,^tb
34,026
36,682

Of

5 5 118
33,567

23,008
2 6 , 105
34,583

41,437

60,723

193 ,2 07

IZJit'l

44 , 7 0"?
33,7J6
2 3,O3«
J6 , 3 4 4

4 3 ,46 8

23,365

43, 25!

99 .7
100.4
103 . 4

100,5
105.(1
102 . j

END
49 .349
3 3 , 3 97
24,076

2 4,463

3 6 , !SiS
39,741

99.8
10U6

1 !l 1 . 4

i l l ' TSTAND!KG 3

2 3 , 9 10
22,846
23,223
2 3 , 7 10

33 , 109

102 . 4
100,9
97, ]

104.1
iCi.O
96.3

OF HOLLARS!

...
34,76?
28 , 4 0 5
24,475
25,!S7

PF.KIOS

100,4
501. 1

22 , 8 2 4
23,043
24,651
31,030
37,417
38,421
35,445

33 ,4S2

2 4 , 5 22
24,430
2 3,050

2 3 , 7 55
21,599
23,S66
24,522
24 , 4 3 0
23 , 0 5 0

34,154

23,275
2 6 , 7 46
35,064

23,275
26,746
35,064

36,625
39,960
33,613

37,033
39,587
3 2,781

37,033
39,58!
3!,781
30,077
31,046

23.365

22,Zf,i>

30,787
29,077
32,417

29,938
30,67 1

30,077
3!,046

33,985

34,225

34,225

35,877
3 8 , 9 09
40,959
43,612
52,625
60,549
67,996
74,592
8 6 , 5 26

36,285
39,894
4 1 , 8 05
43,663

36,839
4 0 , 5 37

36,839
40,137

41,309
4 8,49 7

41,309
4S,497

5 5,77?
64,47 0
7 0 , 0 06

55,771
64,470
7 0 , 0 06

62^730
70,629
76,745
95,896

125,570
150,842
174,338

109,654
129,720
151,538
579,337

111,857
133,056
156,950
186,401

79,936
9 3,82 7
119,788
141,820
372,010
583,504

19 0 , 7 5 6

393,207

199,295

197,769

7 9,936
93,827
119,788
141,820
171,010
183,504
197,769

C, Historical Data for Selected Series—Continued
Year

•Ul-

1 9 'i 3 . . .
1 '( i 4 . , ,
1 0• 5 ...
>
1 9 56 . , .
i 9• i . . .
>
1958...
[959...
i960. . .
196 3 . . .
[962...
1963...
196 4 . - .
I<*ti5 . . .
•966...
1967 . . .
f96 8. . .
1969,,.
5970...
197[ . . .
1972, . .
197 1 . . .
19
74.,,
1975. ..
!9'6,
. .
19; 7 . . .
195*...
[979,..
[980...
1081.. .
3 982...
5983 . . .
1984.. .
!985 . . .
[9
86...
1987 . . .

Feb.

Jan.

3 , 86 1
3, 600
3, ] 7 3
3. 0 7 '
3 , 5 08
3 , it. 3
3 , 590
3 . 5S6
672
t,'. 06 S
4 , 2^3
4, 064
3 . •m 2
4 , 6 }4
6 . 02 S
& , 794
f, , 4 7 I
b , i95
6 , 2 01
6, 360
6 356
6 8? ;
7
?75
7 , 476
8
9 404
10 9 0 0
M 6 19
1 4 i.5?
17, 058
18 4 4 8
!8 762
2 0 1^2

SFENSE

4
3
3
1
3
J
3
3
4
4
4
3
4
6
d
6
6
f6
6
6
7
6
8
8
9

in
12
14
16
17
20
2 I

022
643
046
059
5 80
475
55?
53'
759
096
177
258
899
6 1 8
03!
346
7 1 4
485
162
2 05
377
6 25
5 03
908
0)1
27 i
466
65?
932
689
772
801
05R
5 86

i

j 01
3 369
3 549
3 004
3 601
J 4J>
3 588
3 5 13
3 800
4 179
3 332
4 00 1
3 963
4 900
6 09 I
6 02 5
6 608
6 194
6 082
6 343
6 3 66
6 , 46 7
,332
7 ,47/
7 ,961
8 ,375
9 , 5 00
] 1 ,358
1? , 6 1 9
IS , 0 7 5
16 , 8 04
17 , 7 94
20 , 4 6 5
2 3 ,342

602.

IVlay

Apr.

Mar.
DFVAKTMJiK f

3
3
3
3
3
%
3
3
3
4
4
4
4
4
6
6
6
6
5
6
6
b
1
7
8
9
9
11
12
15
17
18
t9
22

989
270
I 5 i
166
562
315
624
540
78!
187
226
237
036
864
460
724
190
323
SL3
723
194
762
096
672
06 9
,056
,400
, 188
,833
670
529
,525
,597

,10!

FXPORTS,

i .

0J9
3 ,220
1 18
j . 12 1
621
3 , *2<>
3, 630
3, 490
3 , 770
4 , 3 03
4 , 048
4 , 5 90
I. , 2 3 6
a, 7 5 3
5 , 83(1
* . 959
6 , 714
* , 416
s , 9 52
fi, 633
5 896
b 72 1
532
7 101
S 4 04
8 2 t?
9 836
061
li
13 4 3 3
56 3 7 9
l i . 854
I S , 6.09
7 0 6 03
22 9 2 1

!97'...
197E.,1979,..
1 S8a. . .
198!...
J9B2...
!983...
1984...
\^V>.
. -

1 041
56?
1 168
1 2 p?
1 653
1 42 3
I •i ) 4
1 534
! 62?
6*7
98'
053
\ H i
2 298
2 639
2 814
? 161
406
1 60!
4 074
1, 9 5 5
7 17?
498
9 113
677
9 S6S
3 3 281
17 4 1 9
18 9 0 ?
18 5 8 4
!7 232
16 7 66
17 4 2 8
17 0 4 !
?

i
j
;

1
1
3
1
j
j
2
2
2
3
2
2
3
3
3
5
)
8
8
9
j 3
16
19
IS
16
[ 7

?7
(7

971
047
S98
290
577
322
256
554
708
S?9
343
076
hf,
353
5 83
775
266
546
694
S2 4
OJO
549
8i2
935
9 00
9 4<i
627
984
588
6 14
3!2
039
846
401

! ,00!
86?
1 , 3 59
1 ,348
3 ,881
! ,385
1 , 326
1 ,54!.
[ .7 55
| ,66 4
1,954
2 ,06 7
1 ,7 3 ^
2 ,530
2 ,524
2 ,439
3 , S88
3 ,375
3 ,790
3 ,86S
5 ,31 !
7 ,630
a,73 0
9 ,036
iO . ! 6 7
H , SS(i
5' , 3 1 7
18 , 7 6 5
23 , 2 7 8
18 , 4 6 2
16 , 6 9 0
19 , 3 5 9
3 9,765
18 , 5 5 7

;

. 024
j , 196
I , I 13
1 ,394
1,ns
3 ,364
1 ,3 05
1 ,627
! ,637
j ,804
| ,927
} ,081
3
2

,316
,6 08

2 ,S55
3 ,318
3 4 £0

,6 3!
3
5
8
8
9
9
I
•

8
9
8
6
7
7
38

',820
^494
,116
, 1 S8
,380
,955
,611
,988
,567
, 7 86
,005
,095
,900
,984
,001

3 ,867
3.75P
3,353
3,917
3,455
1 ,6i>J
3,63!
3,176
3,711
4,256
4,05 7
4,624
4,035
5,2!4
5 ,06 1
6.769
6,57!
5,655
6. , 5 4 - 0
7 , ! 30
6,597
7,00!
6,719
7 ,02)
8,023
9 ,072
9,36!
11,537
13,364
15,334
37,389

ift, • m
20,554

2 1 ,954

3
3
3
2
3
'.I
3
3
3
4
4
3
4
5
7
6
6
7
*>
6
5
6
7
7
S

Aug.

1 008
1 087
1 3 32
! 413
3 560
1 37 9
1 320
! 6 44
1 578
1 764
3 899
J 076
* 199
436
J 549
1 740
3 268
3 663
3 746
863
563
i
654
8 250
9 575
10 5 3 1
l i 7 Si
k 106
7 647
i, 8 9 9
i 134
5 655
<i 0 0 9
8 93 5
s 270

OP

62 1
041
049
950
642
bib
692
7 34
720
176
356
566
06 9
52 1
279
022
7 16
3 02

m
10?

868
755
?4?
426
040
6 ,394
10 , 4 9 4
! 1,193
S3 , 8 8 9
! * 333
Si 9 7 5
tft ,405
2 i ,495
2 7 ,538

A IT'

EXCi-ODINC, M I L I T A R Y

(MILLIONS
1953. . .
1954.. .
J955 . . .
1956. . .
3 95?,.,
1 9 ', 8 . . .
3959...
1=60. . .
196 1 . . .
19 6 3 . . .
1963. . .
196 4 . . .
L9fc5 . . .
1966, . .
196 7 . . .
5968. . .
1969,..
19 7 0 . . .
1971...
3973 . . .
1973...
3974,..
!975. ..
S976. . .

July

June

Sept.

usurious ANB M I L I T A B Y
NET 0 1 , ' T L A Y S , M I L I T A R Y
CM 31,1- !ONS (IS1 D O L L A R S )
868
11?
09 /
254
633
4S'
649
3 665
3 713
4 136
4 203
3 768
4 355
5 315
6 40'
h 343
6 S38
6 5S9
• j 7 12
5 766
6 598
6 ,957
7 ,962
7 ,239
8 319
9 ,638
! 0 ,339
1 I,425
13 , 8 09
15 , 0 5 0
IS ,455
19 , 1 B !
22 ,489
2 i ,217.
3
3
3
3
3
•',

Oct.

ASSIST

3
3
3
3
3
3
3
3
3
4
4
3
4
5
6
6
6
6
h
h
6
6
7
7
8

847
160
069
364
173
758
63 t
638
837
2 08
188
9!8
449
52!
399
495
747
136
539
237
490
,973
,285
892
215
,026
,139
,193
,277
,972
7 S J

Nov.

Oec.

3,72!
3,108
3,050
3,399
3,416
3,661
3,630
3 , 6 45
4,001
4,290
4,09!
4,030
4 ,423
5,515
6,376
6,805
6,764
6,09 4

•j

i Q

li Q

TOTAL

3,983
3,062
3,447
.3.2S8
3,412
3 ,686
3 ,6 07
3,682
3,808
4,149
4,193
3,949
4,26!
5,599
6,434
6,663
6,473
6 ,276
5 ,959
5,502
6 ,527
7 ,584
7,351
7,5 3 0
8,046
8,592
9,993
1J , 9 9 3
34,014
16 , 8 8 1
!7 , 4 6 3
S9 ,46 9
21 , 9 8 7
23 , R 8 6

10
12
14
15
i?
1ft
70 , 9 0 8
22 , 3 2 4

6,010
6 , 3 03
6,5-0^
7 ,398
7,358
7,330
8 , 6 87
8 , 762
10,448
12,224
14,548
17,087
[7,329
26,151
21,847
21,168

3
3
3
3
3
3
3
4
1
4
3
4

631
160
12.3
359
335
681
617
752
054
132
[63
958
639
637
02 3
842
553
341
217
332
15!
.451
518
659
,484
,407
,887
,993
,298
,779
,726

I [
10
9
9
30
10
10
10
1 1
12
11
12

, on

3 ,013
2 ,87 3
3 ,525
3 ,927
3 ,111
k , 530
3 , 8 96
4 ,629
5 ,085
5 ,150
5 ,0S4
6 , 195
5 ,590
? , 181
7 ,745
8 ,028
7 ,655
10 , 3 2 7
1 1 ,«R511 , 7 6 6
15 , 3 3 6
22 , 3 5 0
27 ,0.30
27 ,08429 , 7 44
30 ,96 4
41 ,225
52 , 6 6 8
59 , 9 6 8
55 , 6 6 0
50 , 2 3 4
53 , i 6 4
55 , 0 3 9
52 ,999

5
6
6
6
6
6
6
6
7
7
7
8
9
)0
11
15
16
18
11
22 , 4 4 3
22 , 5 1 3

990
613
367
140
6 89
273
730
6 36
231
3 43
753
313
852
152
140
165
793
174
445
826
999
, 9 19
985
560
,454
,139
,370
,91 0
, 190
9S6
6 34

11
34
i8
19
19
19
18
IS
18
19
21
21
33
35
28
33
38
43
50
54
59 ,3 85
65 , 0 8 0

11 9 3 5
10 248
9 522
1 0 3 04
!0 638
10 4 1 i
10 8 6 5
10 2 0 6
11 2 6 2
13 7 4 5
S 2 331
13 5 0 1
12 3 0 ?
14 85 !
17 3 5 1
20 453
19 7 7 5
18 3 9 4
! 8 335
2 0 47 5
18 6 8 7
2 0 , 4 84
21 ,346
2 I ,800
24 , 4 1 6
26 ,345
28 ,597
33 , 7 8 6
39 , 5 3 0
46 , 3 8 3
51 , 5 7 2
3 6 ,0B7
6 0 , 7 54
66 ,976

Arifiua

FlTR

PERIOD

! 1 ,470
9,220
9,593
9 >92
10,68?
10,809
10,948
11,081
51,241
[2,46 5
32^752
12)585
16,435
30,117
19 , 0 2 8
30,026
30,(19?
17,442
17,375
18,993
2 1,296
22,955
22,185
2 4 , 2 05
26,624
3 0 , 8 26
34,611
4 1 , 7 12
4 8 , 2 43
5 2,89 3
57,055
65,974
6 8,138

11,199
9,428
9,302
10,12?
9 ,924
11.300
10,878
11,025
I [,892
12,620
12,442
11 , 9 0 6
1 3 , 5 11
16,663
18,796
20,14?
2 0,06 4
38,573
18,426
18,772
19,148
2 1,822
22,161
22,88S
I 5 , J 86
27,195
31,474
36,409
44,123
49,838
53,836
58,738
65,198
66,004

46 , 5 9 4
39,508
37,684
38,958
41,938
42,593
4 3,421
42 , 9 4 8
4 5 , 6 26
50,169
4 9,277
50*255
62,10!
7 4 , 4 04
7 8 , 7 87
!9,658
76,236
72,648
75,448
75,827
83,5 2 1
88,447
88,426
97 ,S.<>!
505,303
i!9,267
1 3 7 , 7 16
163,555
188,380
206,935
225,923
3 5 1 , 2 13
266,198

SHIVMENTEJ
1 0 CAL

DOLLARS)

998
t ,09!
t ,170
1 ,44 3
I ,674
1,337
1 ,357
) ,643
1 ,62 I
1,877
1 ,837
2 ,080
1 ,235
2,484
2 , 5 S3
2,870
3,379
3,727
3,672
3,971
5,728
8,326
8,758
9,738
10,096
15 , 5 6 8
14,828
18,440
19,750
58,833
56,959
58,734
18,06 8
19,092

tV Q

IIIQ

JiCE 1

i ,011
t ,076
i ,223
1,4)2
J ,517
1,361
J ,397
i ,711
i ,698
J ,750
1 ,839
; , 118
2 ,300
2 ,469
2 ,601
2 ,858
3 , 183
; ,704
3 ,573
4 ,07 4
5 ,865
8 ,330
8 ,890
9 ,994
10 , 3 8 0
11 , 6 6 9
15 ,7 06
18 , 2 6 7
19 , 2 8 9
38 , 0 6 0
16 , 4 8 6
17 , 6 5 7
It ,553
} 7 ,346

1 ,026
1 ,06?
1 , 3 15
1 ,454
S,617
L ,165
[ ,432
1,660
1 ,695
1 , 7 0£
3 ,913
2 ,095
2 ,329
2 ,460
2 ,566
2 ,950
3 , 36ft
3 ,59!
3 ,666
4 , 1.96
6 ,043
8 ,446
9 ,043
9 ,831
9 , 69K
12 , 2 9 1
15 , 7 5 4
19 , 0 8 6
19 , 0 3 1
17 , 4 6 3
16 , 5 8 2
18 , 2 1 9
16 , 4 0 !
16 , 8 9 5

1,8 54
1 ,056
1,235
1,586
1 ,6 05
\ ,354
1 ,528
I

,bfii

! ,669
1,898
1 ,964
3 ,23?
2,195
2 , 5 02
3 ,597
3,!11
3,34 1
3,553
4,48?
4,176
6,120
8,426
9,118
9,846
11 , 0 4 4
1 5 , 5 SB
15,843
18,82 8
(9 ,55 1
17 , 3 2 0
[7,257
17.4S2
16,790
37,530

951
] ,111
1 ,260
I ,509
1 ,546
1 ,149
1 ,328
1 ,685
! ,809
1 , 5 42
1 ,943
3 ,150
3 ,349
2 ,616
2 , 4 15
2 ,631
3 ,342
? ,688
3 ,669
4 ,316
6 , 5 85
8 , 6 87
9 ,246
9 ,779
9 ,364
12 , 9 06
16 , 7 0 0
39 , 2 17
19 , 1 6 3
16 , 6 7 1
17 , 0 3 3
18 ,7 3?
17 , 8 6 8
19 , 5 6 2

1,03 5
1,14 7
3 ,215
1,360
! , 5 34
! ,4,1)1.
! ,376
I ,673
1,738
1,717
1 ,946
2,183
2,378
2 ,491
2,671
2,572
3,398
3,499
3,194
4,473
6,879
8,978
9 , 4 26
9 , 6 09
9.4B6
13,460
16 , 9 3 8
18,715
19,153
15,85-3
17 , 0 6 3
18,630
17,743
!S,4U

|

i , 3 30
I ,326
,836
1 ,49 3
1 ,111
1 ,49 3
1,631
1 , 700
1 ,811
3 ,059
2 ,394
2 ,362
2 ,46 7
2 ,67?
2 ,977
3 ,280
3 ,569
3 ,8,61,
4 ,558
6 ,949
8 ,865
9 ,280
10 , 4 5 7
11 , 0 0 1
13 , 2 9 9
16 , 7 5 3
19 , 2 5 1
IS ,885
36 , 3 4 7
17 , 2 9 8
i 9 ,?.f> [
,417
IB , 5 3 3

n

3
3
3
A
4
a

,e»o

, 374
,415
,349
,973

3 ,982

t , 9 14
k ,836
5 ,445
,663
0 ,237
6 ,940
1 , 2 16
'! , 7 3 9
,465
» ,765
10 , 7 9 8
11 ,044
1! ,673
1* ,783
24 , 0 9 6
?s , 7 2 6
28 ,693
30 ,582
35 , 6 8 7
42 ,922
54 , 6 5 4
58 , 4 3 5
54 ,952
4S , 7 09
55 , 6 4 5
54 , 9 6 7
55 , 3 6 3

I'OE
3,191
3,199
3,673
4,453
4,839

,030

i.HBO
4,35 7
5,03 2
5,06 2
5,357
5,715
6 ,450
6,920
7,43!
7,764
9,019
9,889
10,848
13,7 2*
12,446
18,327
2 5 , 2 02
27,053
29,671
31,322
37,37.8
47 , 3 0 3
56,181
57 , 8 7 1
5 2,84.3
50,325
">% , I B 8
49 , 7 4 4
5!,77!

PERIOD
3,059
3,388
3,701
4,705
4,573
4,085
4,197
4 , 9 89
5,247
5,070
5 ,948
6 ,72?
7,089
7,574
7,763
8 , 5 80
10,02 0
1 0 , 7 56
9 , 7 4b
13,347
20,413
26,530
27,952
29,845
29,851
39,665
50,391
57,183
57 , 2 0 1
48,870
51,394
5ft, 6 1 8
53,028
56,496

12,263
12 , 8 5 4
34,291
17 , 3 3 3
19,495
16,367
16,407
19,636
2 0 , 190
20,973
22,427
35 , 6 9 0
26,691
29,379
30,934
3 4,06 3
37,332
42,659
4-3 ,5i»9
49,199
7 0,83 3
98,093
!07 ,652
115,233
121,232
143,683
18!,860
220,630
233,677
212,275
200,538
258,75?
3 12,778
2 16,629

19 8 7 . . .
604.

EXPO BTS

Of DOMESTIC
{BILLIONS
3F

ACEICULU'SAL
DOLLARS)

SOD
TOTAL

COS

PERIOD

...........
3 ,848
3,034
3,198
4,17 0
4 , 5 06
3,855
3,955
4,832
5,024
5,034
5 , 5 84
6,348

1 95*> . . 19 5 6 . . .
1 957 ...
1 9 5 d• - -

\ :l ^ : i . . .

3 96 0 - . .
196 1 . . : 96 3 . - .
1964
1 965. . .
196 6 . . .
1967 . . .
3968...
196 9 . . .
1970. . .
19/ 1 . . .
1 97? . . .
197 3 ...
3 97 4...
3 97 5-.1976 . . .
1977 . . .
J978...
597*...
1980.,,
198!...
19 82 . . .
1983,.,
1984,.,
3 95i5. . .

228
547
5 79
IB*
54}
680
7(i 6
1
;
2
i
1
3
2
3
4
3
3
3
3

in
? 74
369
91'
763
83 g
53 i
442
2" 5
359
12S
457
9 45

t
I
i

i
2
3
1
3
3
3
2
3
?




349
554
5 4?
5/3
346
569
633
703
, 142
829
8 30
6 30
004
058
,441
484
977
590
985
198
842

662
594
526
5]8
49 0
533
658
ft Oft
,268
,869
, ? 03
,668
; ,11!
,363
, 6 09
,335
,201
3 ,225
2 ,813
,3 36
2 ,436

538

550
550
526
538
6 09
565
636
.251
,978
723
^892
3 ,142
2 ,428
2 ,540
3 ,339
3 , 6 04
J ,400
2 ,891
3 ,030
2 ,6 2 4

!
]

I
1
1

i
2
3
3
3
2

3
i

553
542
491
576
566
633
722
412
8 82
575
950
360
861
597
336
7 08
52?
1 15
245
215

560
572
539
475
526
632
674

m

1 ,442
i ,806
3 ,480
1 ,948
2 ,077
2 ,904
2,628
3,085
3,256
3 ,332
3,977
2 , ? 15
2 , 2 i.8

595
531
512
503
541
614
632
1 54
i , 370
,842
, 7 35
1 ,039
1 ,976
2 ,393
2 ,954
3 ,286
'. . 0 6 9
2 ,789
3 .072
; .236
2 .194

5 00
624
5 13
5 44
494
610
6 36

fit,
,731
1 , 6 98
,872
2 ,058
j ,801
3 ,774
,019
3 ,557
3 ,202
2 ,763
2 ,9 7 3
3 ,022
1 ,347

51 5
60i
523
509
618
639
86 6
SI 7
3 ,726
i ,654
1,93?
2 , 160
2 , 06 4
2.532
3,032
3 ,596
3,563
2 ,648
3 ,322
3,153
2,QSQ

56?
595
5 07
44i
632
694
447

as?
, 7 06
,691
2 ,06 0
7 ,33!
i ,654
2 ,596
,309
3 ,485
3 ,735
2 .681
2 ,979
2 ,799
'

541
5#0
560
516
56 5
628
546
927
! ,769
1 ,978
1,871
1,750
3,755
3,533
3 ,459
3,464
3,4*2
2 ,783
3 , I 09
3,242
2 ,4&fc

1
3
2
3
i
7
1
3
2

591
5 80
533
569
55 1
689
768
,007
,785
,922
,776
,860
,313
,555
,3SL
,838
,220
,637
,175
,314

I ,339
J ,696
1 .637
1 ,670
922
1 ,643
1 ,971
2 ,07 5
3 ,52 1
5 ,472
5 ,902
5 ,215
5 ,878
6 .239
7 ,584
10 , 2 5 !
!2 ,473
IS , 0 7 3
8 ,92 4
9 ,991
8 ,223

1 ,63&
1 ,674
3 , 6 07
! ,49 4
1 ,711
1 ,743
1 ,883
2 , 12 1
I ,105
5 ,666
4 ,778
5 ,790
6 ,579
a,193
7,965
9 ,740
10 , 5 6 8
10 , 2 5 9
8 ,583
8 ,990
7 ,05"?

1 Al§

1 ,553
1 ,863
7,134
3,387
4,827
5 , i 94
5 , 53f
6,?.5?
5,841
7,678
9,005
10,639
9,854
8,200
9,36 7
9,41!
6,611

! ,«,<)<,
1 ,765
1 ,589
1 ,526
1 ,728
2,011
i ,76 !
2,816
5,260
5,591
5,657
5,S4!
5,520
1 ,6S4
10,079
1 0 , 7 87
iC.397
S.101
9 ,363
9,355
7 ,223

(' , 4 0 4

7 ,003

1 ,756
1 ,548
1,556

6'874
6 , 380
6 ,22?
5 ,936
7,347
7 ,698
<1 , 4 0 7
17,681
1 1 ,999
2 1 , 886
22,998
33,67!
19.3.&4
34,755
41,256
43,356
36 , 6 3 3
36,108
37,814
29 , 2 4 2
26,061

C. Historical Data for Selected Series—Continued
Year

Jan.

feb. j Mar.

1A

une 1 July

May

pr.

Sept.

Aug.

Oct.

Nov.

Dec,

11 Q j

(CRT
Of K«N F7, ECTJ!
( M U L 1 0 8 S UF DOLLARS)

IV Q .

HI Q

Annual

EXPO KTE

6 06.

.._

TOTAL

POP

... "I

|

19' 3
1VS4,..

j g, g
1959

5 96 5 . . .
S9SS...
1967...
1963.,.
1970..,
1971...
1972 . . .
1973...
1974 , . .
1975.-.
1976..,
1977.,.
1978...

Ift9.
.
19B0...
1981 . . .
19B2...
1983...
rss*...
1985...
1986...
1987...

230
43>
52 1
523
408
658
732
775
880
1 155
1 672
P 7SU
1, 8 3 1
2 084
3

!>B2
,29?

4

4 ,346
! ,6 44
i ,i!09
4 ,247
854

•12

2

439
502
530
678
693
7 80
9 1 !
1,19?
i ,612
J ,S 1 7
1,897
2 ,1ST
3., 832
3 , 4 54
4,155
4,054
3,359
3,848
3 ,970
4 , 3 94

480
47 0
490
4.13

43 3
44 8

415
46f

508
519

411
49 4
335

515

6'.)

1

6 SO

no
'17
*O6

647
111.
773
9!5
1,270
1 , 6 26
1,806
1,859
2 , 4 SO
1,917
3,42 3
4,332
3,997
't , 4 9 9
3,764
4,160
3,740

680
767

m

fiiO

i , >lt
I ,
I ,4 | 5
2 , y 06
3 ,5 7 !
H , * 1
t . <m
1 , •> i "
3 , i n
3 , f in
3 , 9Si

i

975
1 ,33B
1 , 72D
1 ,836
1 ,835
2 47 ?
2,859
3 620
4 , 160
3,957
3,433
3,976
4,073
3,644

476
484
485
5 26

?1S
700
?83
997
1 339
1 7f7
! »l i

r

755
>£6
776
3 128
! 398
1 , 770
1 ,9 5 2
$ 862
J , 451
J22
3 , 985

« h f

7 ,41?
T 0 34
'

4
5
11

'i
1
'i

94t
3HR
1 XI
765
7 46
952
5 82

!

1

56?
4 !05
5 >55
•
3, 790
3, H5
3 , 5 85

433
45/
476
557
7 06

663
8U
1 ,011
1 5 09
1 ,752
1 ,675
1 , 7 .3 2
7 ,528
3,241

4,210
6,207
3,856
3,290
3 , B7JJ
3,897
4 ,091

•

1

414
4?3
49 7
57J
616
?ia
8? I.
81S
,09(1
,491
,750
,883
,133
,815
1 53
,017
,55?
,197
,7 IB
,S4d
,777
,812

472
« i
458

678
7 85
583
781
1, 115
1 552
1, i l *
* , S23
1, 556
2 , • 25
•i 2 5 1
4 , 117
4, 338
J , 53 9
I , i89
4 , 007
3 , !94

3, •i'ii

450
475
510
5 86
IQS
672
86 J
1,10?
i,624
1 ,770
1 ,&l<t
1,791
2,MS
3,172
3,968
4,366
3,6 86
3,905
3,918
4,133

46 3
486
52 0
51s
630
720
783
860
(,111
1,523
1,843
! ,983
2,056
?,S24
3,240
3.BS9
4 ,005
3,7 19
3,683
4,318
3,730
4,227

1 ,03?
1 , 3 4'.
1 , 6 13
1,49 !

2,147
2 ,328
2,716
3,622
4,930
5,403
5 , 5 62
6,721
8 43 1
iO,l?4
12 56 5

12,39?
)fl,5D2
11,621
12,37?
11,888

1,323
1,349
! 5 00
1,573
2 049
2,100
2 , 107
2.898
1,965
5,352
5,525
7 3 14
8,599
i S 34
2,859
2,100
0,21!
1 ,533
1,995
1,2 07

3958...
1959. . .
I960...
196 1 . . .
1962...
J 963...
1964...
1965...
196ft.. .
1967...
1968...
196 9 . . .
1970...
1971...
19/2...

!°73...
1974...
1975...
1976...
1977...
J 978
1979...
1980...
1981...
1982...
1935..•
S984...
1935...
3 986...
1987...

904
855
SSS
1 ,045
1 ,057
! ,05 3
1 ,166
) ,247
1, 1 5 4
J ,320
! ,089
1 ,421
i , m
! ,96.6
2 ,317
2 ,65?
2 , 0 02
r ,232
,599
4 ,43ft
1 ,244
ft , 6 6 5
It , J45
,341
IE , 6 9 4
I' , 6 6 1
16 , 8 3 3
2i ,181
2 7 ,6 16
22 , 5 7 3
21 . 1 2 7
21 , 4 9 7
•/I
,«?*
11 , 0 9 0
'•

903
852
£9?
1 ,063
1,056
1 ,022
1 , 2 02
1,353
1,154
i,S2S
1,510
1,462
3 , 6 06
2 ,013
2,216
2,592
2 ,672
3,279
3 ,564
'>,&?!
5,483
7,534
B,133
9,302

a ,9?o
54,617
14,919
2 1,834
21,916
19,570
S8,804
25,118
25,94!
2? ,521

923
76?
907
1 ,034
1,}}B
1 ,05 1
1,27.0
1,291
1,164
1,539
! ,485
1.51S
5 , 8 6 1.
2,05 0
2,lib
2,588
2,98!
3,219
3,629
4.515
5,414
7,9°7
7,720
9,742
1 2 , 7 92
14,320
15,(557
2 1,028
21,019
2ft,Old
19,528
I'l , 7 3 1
28,725
29,403

6 14.

918
945
90?
i, H 9
1 . lfi(
1 ," 1
J , ^ ))
1 ,m
5 ,151
1 168
1 ,4 1 7
! , •>?•,

1
1

1, 8! 1
2 ,
2 ,
2 ,
J,

l»(

19!
1114

W<

3

If,'.

3
4
5
S.
K
*
12
14
I*
19
22
17,
19
;K.

'?4

It]-:
if, (

21?
ilf
tA(

I?'.
IT
,

IIA

SV
24(

?14
9j4

Iftl
57 7

1"

898

*31
848
939

I ,040
1 ,06 0
1 ,066
! ,330
1 ,278
1,162
1 ,396
1,4 09
1,535
1 ,797
2 ,06 0
2,136
2,755
3,256
3,33?
3,908
4,48ft
5 , /01
B,4fcO
7,470
9,489
11,47 8
14,295
J&.sos
20.S5S
2 1,237
20,47?
7.1,446
2 * , 607
2?,302
30,034

935
97?

1 M<
1 ( I . >•
1 (137

r

s

1 101
3 J7h
1
1
I
1
?
7
2
•'

• flfi
15'I
,4 3 2
575

,84f
irt?
.IS4
,792
.}'<•/

•" ,164
4 flV
4 ,46 8
-, 7 1'i

«70
H i
^7i
1 3, 6 7 6
! 4 57 6
17 , 2 0 ]
?r , 4 3 ?
?? (KK>
•;

u

lft?
9!6
, W
30 , 116
30 ,942
?1
7(
; * •

4 , 565
5 , Sin
1 214
8 110
(1 02 8
1? i 5 4
(4 S9S
17 1 16
|!t
189
•>n 1 1 4
19 8 4 9
JZfi
'l\
565
1 27 0 0 0
S4S

1 ,825
1,137
2,145
2,87!
3,16!
3,34S
3,913
4,726
6,010

9 , 5 04
8 , 166
10,7 38
12,530
14,412
18,659
19 ,!<.')
23,242
22 , 9 1 0

2?. ,?:).
T! , 0 * 3
26 , 2 1 7
29.482

968
BIS
9?2
, 132
,074
,083
,411
,210
,266
,479
,455
,559
,S5S
,38S
,198
,951
•
,078
- ,623
,179
,612
,6 44
,002
,3S8
10,972
13,158
15,245
1 ,632
f?,934
f ,27 4
'! ,581
) ,451
7 ,853
3 ,34?
30,80a
1

S18

$05
) , J4 5
1 , >•?•)
[

) , 091
1 , 184
] , 1«1
1 • 29R
1 , 3S«
1 459
! , 550
1 ,885
2 , 303
2 , 254
1 , 73$
3 , 19!
3 + 98
3 469
4 7SS
5 996
9 ,0 Z 6
i t , 533
M l 810
12, 936
11 091
I t 37 1
S I ) , 337
21! 07 7
2 1

on*

24 333
? J 530
?» 429
32 7 ! 1

873
82 1
1 ,045
969
1 , 065
1,156
1 ,292
1,162
1,305
1,429
1 ,459
1,688
3,941
2,195
2 , 3 9*
2 ,883
3,180
3,42s
3,456
5,3*8
6,684
9,135
8,464
10,951
!2,77S
15,238
39,013
19,856
22 , 5 0 8
1S,S92
23,115
2! ,296
30,010
32,413

837

an

971
1 ,050
1 , 060
1,3 39
1,353
1 ,142
1,316
1,3 SO
1,488
i,655
1,9] 1
2,196
2 ,493
2 ,908
3,078
3,402
4,169
5,002
6,295
•} ,61.7

8,670
11,5*6
13,661
15,30(1
ZO,!5<5
21,427
19 ,746
89,154
22 ,976
24,363
30,728
29,854

2,779
; ,4i>9
2,690
3 , !42
1
231
3 i 26
3 (S8
3,801
3 472
3,9 84
4,084
4 40!
4,666
6,029
6 6Q9
7 ,867
7,656
9,720
50,793
13,424
14,1*1
H.196
25,998
2 8 , 3 85
36,476
42,598
47,35!)
64,043
65,56;
62,161
58,459
"I'l, 346
83,502
87 ,014

2 ,77?

2,842
2,728
2,769
3,128

3,218
3,S54
3.B49
3,90?
3 , sen
4,119
4,253
4 , 5 85
5,456
6 ?5i
6,500
8,151
9 591
9,864
! ,719
3,371
6.83S
35,56?
22,999
0,00?
3?,28!
43,294
50,067
60,916

J &fti

59,378
62,276
0,731

88,010
f ,67*

2 ,5H
2 ,89?
3,26!
3,284
3,15?
3,92?
3,72::
j

2 , 2 06
2 ,037
2,503
3,333
4 699
5,42?
5,618
5,403
8 , S67
9
,M1
3 t ,904
12 , 7 0 9
11,234
11,05 8
12,040
11,34!
12 , 2 9 7

S ,387
S,5<M
9 ,546
12,106
1
k 5? 4
?6,i)85
22 '!•>!>
2'i , 2 2 3
29,996
36,209
45 , 4 5 4
5i ,d66
48,089
42 , 4 3 ' .
46,502
47.003
46,880

PERIOD

Tfl 1. f CE

910
851
952
1,065
1,099
1,04*
1 ,Z89
1,245
1,243
1,'147
i ,507
1 ,585

': ''7 9
6 ,316

jjj

4,167
4.4W5
4,720
5,425
6 04 |
6.5S8
B.54J
9,315

IS.OI:
1 i,924
53,10:
IT,485
27,721
24,6&4
22
238
38,342
44,554
54,407
5S,S42
64,63(
63,360
66,99J
86,46 1
84,5 9*
91,1J8

! , 52K
2,500
3,061
3,07d
3 23 1
J.3S6
3,8^9
3,501
3,929
4,115
fj , 4 0 6
4 ,893
5,73?
6,694
7 , 143
8 , 5 27
9 ,45 0
30,328
11 , 0 9 4
14,888
(9,971
37,512
8 5,667
J3.327
3 9,435
4"; , 6 2 9
58,440
61,610
65,33!

10,873
1S , J 1 •
>
1 ' , 3 Si
13 6 IS
IS . 9 8 ?
31,792
i " 7 0'
>
is,01s
U.39O
1 ' , 13S
IS,684
t | S6 j
23,3*2
"Ih 8 1 2
33,226
36 , 0 4 3
I'l
952
4 5,56 3
5 5 , 5 83
6 4 47(j
I 03,'{2 1

09

;n5

! 24 (,14
151.534
J/6,057
210,285
245 , 7 4 2
26 0 9 82
2 4 3,952
2 5 B , 04S
3 2 5 ? 2 fc
345 , 2 i > i
366 , 0 6 ' !

59,057
" 0,4 24
79,189
89,16;
95,038

! " •

IMPOSTS OF PETS 01, K M AKO FETROLKIiM
(MILLIONS 01- n o t ,AKS)
.

1953
1 9^4

899
847
953
}
)63
\
ill
1 , 02 3
1 , 22?
1 , 26S
1 35$
) , 341
£ , 447
1 ,576
1 74?
2 , 116
2 , 245
2 115
> 174
254
3 , S32

15,333
1 2 , 35i
10,66;
11,SOS
11,2 89
1 1 ,188

'.,013
'• 5 51

1,(.!6

3 , ] 79
2 ,220
2 , * Of
3 , 1 59
4,1SS
5,272
5,51!
•i , 727
7 ,794
9,4,16
12,24!

f s U . CKNEKAS. IMFOUT I 1
Of DOLLAR 3)
(NILLJC
J9 5 3 . . .
1554 .
1555...
3956...
i 9 5 •;...

:;:

1 ,385
!,452

! 2? 3
1 ,414
1,45S
i ,656

VROBSJCTS
TOTAL

FflB

PERIOD

|

1

j

j
...

..

1965...
ifss...
1967...
1965...
196 9 . . .
1970...
ill t .
1972...
3973...
1974...
1975...
1976...

362
\i>2
185
S92
208
756
319
337
652
,167
3,08^

3 ,217
1978.,.
1980...
198!...
19 5 1 . . .
1983 .
3984..,
1985 . . .
19F6

•

163
17',
172
IS?
7.06
252
220
334
&56
1 ,512
1,7 81
3,338
3,370

,000

3,580
c i, \u
? , 3 5">
6 ,810
4 ,481
/ ,515
4 ,005
0 1 (j

3,634
7,741
a,ois
4,396
3 , f 83
i 660
3,833
4 ''14




17 !
IBS
175
! 7 9
182
1 17
249
345
492
1 ,560
i ,21 t

4,191
3,(194
3,66?
6 ,99i
5,991
4,290
1 , 603
5 ,393
3,4t [

IBP
161
181
IS1

250
3?4
4 ^
1

1

1<i

1 J87
1
3
6
I
3
ft

611
16?
K3?

is 1 )

9]9
H94

ll,<
Odfl
9 If?
'""

166
179

2 06

15ft
191
162
228
2 1 5
200
288
350
520
2 306
1 990

2 09
IS?
14!
!H4

ISO
215
203
270
331
550

?rt"
22!
2 J6
34fc

1,137
3,74b

7 Of,""
1 , 3 54

I'll?

3 ,038
4,000
7,191
6 ,329
4 , ISO
1 4 32

5,11!
j ,237
- "IP

1 , 734
" ,27?

4 199
6 611
521
fi
1. 855
4 ,)!•>
h 694
4 ,847

1 *
,

415

I

3 194

J

693
153
'j
40(5
5 624
!.. 6 2 2
4 6 74
3 342

S70
201
155
SS2
211
23^
357.

703
2,274
2,008
3,266
3,257
4 9 49
6,018
6,335
5,731
4,597
4,03 3
1,252

7 "i"5

• " 1 1

'•""

176
178
160
7 I3
218
221
334
381
700
2,200
,5 15
,436
,30?
,662
,9S2
, 7'>9
,903
,919
,261
,04!
43..

1J3
173
17 J
111)
223
231
286
390
?sr
2 251
320

170
191
172
199
2 07
21%
335
4 00
9 42
2 ,30S
3 , 140

386
JA?
05 0
876
123
433
SIS
OO;

3,410
3,4S9
5,35i
6,05)
6 ,483
4,757
4,459
'(,637
4,36 7

?
3
3
6

5
6

5
4
4

8i 1

•?s«

"

s

lii
154
179
198
1 38

i',b
335
416
972
2,335
1 ,M0
3,233
3,588
6 ,502
* ,254
4.63S
4,694
.3,997
4,298
5 , 0? 9
7,299

49B
5!9
5?9
558
596
7 35
68$
t ,006
1 .410
4,239
10,778
9,720
10,861
2fi,346
21,369
15,496
11 ,267
14,568
i1,249
12,850

56 3
528
556
556
653
669
796

1,00
1,625

6,479
5,487
0,517
9,429
2,03!
8,987
9,769
2,979
3,396
5,807
5,015
7,533

496
570
477
63]
644

655
895
1.0B9
1,913
fi , 7 SO
6,513
10,117
9,758
15 , 3 0 3
16,153
17,44S
j
fi,25*
14,J4E
lr,S56
10,$35
7,143

535
5 IS
524
60?
668
7 20
95*
1,212
2 ,701
6,524
6,62 0
10.029
10,o7.4
17,903
58,381
17.Z4J
14,8S4
H.274
12,943
13,25?

i

i ,09'
s, 12;
3 ,086
? , 343
5 ,560
3,764

5,3;;)
4,300
? 614
24 ,270
74,31i
" 1 ,526
19 , 1 (14
56 ,0 36
n,?7i
'5,57?
59 ,396
53 32^
5 5 , 9 06
49,607
34,14fl

C, Historical Data for Selected Series—Continued
Jan.

Year

May

Apr.

Mar

Feb.

6 16.

Aug.

July

June

Sept.

Oct.

Nov.

Dec.

III Q

TMPQKXS OF AUTOMOBILES. AN 11 PARTS'1
( M I L L IONS Of B0M,AB S )

T OTflL

FOR

iv o

Annua

PERIOD

i

1

I

!
1958...

1965...
1966...
39*7...
i*48,,.
1969...
1971. . .
1971...
1973...
1974,.,
1975...
1976 , , .
1977...
1978...
1979..,
5980...
1981...
1982 . . .
1983...
19 8 4 . . .
5985...
5 9 86...
L9S7,. .

j

.

|
31
106
i76
l i t
293
437
4 82
589
780
86 2
742
,085
,083
. ,529
1 ,963
,899
7 ,26 4
,389
•J

4
5

963.

,3 39
,684
,033
, 544

54
1 14
16 J

61
125
16'

315

325
561
6HO
7579?

533
647
725
898
776
1,231
1,266
1,715

541
hhl
731
877
651
,041
,348
,66 1
; ,7 06
1 ,035
, 7 42
•I , 1 3 5
,<i 19
,751
4 ,999
J ,378
•

89
108
159

1

01FFUS I

54
i 1 3
184
339
392

399

j

!60

823
,117
i ,299
1 ,5 81
1 ,5 89
:
.960
7 , 125
1 ,596
•I ,b1d
1
, 6 8f
4 ,24:
5 ,018

os runev.

OF

529
680
814
901
731
976
1 ,183
,659
,851
,999
: ,299
3 ,785
7 ,859
,635
/ ,073
5 ,054

1,710
2,043
2,3B9
1 7 46
3,838
4,350
5,011

EMPLOYEES

CN

59
123
197
292
383
576
636
S3 i
84!
i RJ
1,169
1 , 360
1 ,684
1 ,7 JO
1 ,843
3 ,25?
2,636
2,573
3,683
'• , 9 3 2
"j , 5 3 5

49
146
!83
294
AS!

61

no
201
3 [4
391
525.
603
806
928
H I
1 ,025
1,315
1 Si3
i ,855
2 , 103
2,106
2,155
3 ,936
3,947
4,161
6,24;

699
? 19

659
"SB
1,055
1,338
1,666
5 113
2 , !39
3,635
3,795
2,8i 3
3,773
4,489
6,280

74
157
176
334
438
%71
622
722
912
8(sl
1
1 ,438
i ,822
1, 8 4 9
3 ,270
1 ,943
2 ,370
2 ,636
i ,302
5 ^55
4 , 9 09

84
139

1 tit
346
443
5 4^
681
B58
809
BBS
871
1 ,426
i ,872
i ,805
2 , !89
3,46 1
2 ,444
3 ,233
3,600
4,198
5,790

93
! 44
IIS
37 I
431

ti9
768
840
812
B7 3
1 128
S ,46 5
i ,875
1,984
2,314
7. , 2 3 9

i. no
3,415
3,817
5 ,46 !
7 , 15-ft

PAYHOLLS- - 1 7 2 - 1 86
P R I V f l T t NOKACS CBLTUKA
R I S I N G OVER j - H0NT& SP K S i

68.6
48.3
35 . 0
69,5
57 . 2
60.5
56 . 0
71,6
47.1
53 .5

3 02

S46
345
5 06

•ar
SSI

801
933
1 ,5B4
1
,93!
i
,264
I ,536
7 ,219
• ,243
,630
4 ,771
5 ,258
5 ,894
6 ,13!
I , U 0
S ,024
1 i , 1 !5
1 ,275
, ^ 0

167
433
56(
942

344

,174
,273
", ,638
,96:
•1 , (61
•I .641
•1 , J!*'
,366
,809
5 ,05f
f
,517
6 ,5', -1
h ,51£
i ,RtX
1 ,3 HI
, M6
1

1

1

•

!
I

•

•

,m

,633

1 ,130
1,219
1,857
1,93:
2 ,277
2.699
2,678
3,3S*
4,07:
5 , J0<
5,777
6,512
6 , 6 86
J ,656
8,385
13,022
14,205
17,431

272
496
648
1,082
1 ,29!
1,310
I ,770
3 ,143
3 ,329
2,435
2,774
3,320
4,370
5,^69
5 ,660
6,400
6,667
6 , 1b3
SO,449
11,149
15,417
16,439

807
1,618
2,254
3,7! 6
4,629
5,057
6,849
7,960
9 , 2 : :i
10,31 )
9 , 9 6 (1
13,147
15, 8! "I
3 6 , 6 ' ft
22,233
34,35 N
26,282
;9 ,3!
35,346
4"i , 4 4 2
56,252
66,933

1KBBSTR S E S *

35.8
J* . B
43.9
69.5
62.9
3 4 .4
69-2
65-3
71.6
47.4
58.7
59.3
25.6

95
213
111
365
428
426
642
694
631
8!4
,013
,221
1
,479
,S22
,871
,897
1 , 164
7 , 1S9
,801
• ,732
,758
,*&3

AVERAGK FOB

PbSIOts

I
1958...
1959,,.
I960...
1961 . . .
1962. , .
1963...
1961...
1965...
1966...
1967 , . .
1968. . .
1969...
5970...
5*7S . . .
197 2 . . .
1973...
i«'4. . .
1975...
19 7 6 . . .
1977...
1978. . .
1?79. . .
S980. . .
1981...
1982...
1983. . .
1984...
1985...

33.0
5?.S
40.8
56,9
57.5
57.2
70.'
73.1
-.1.8
15.3
64,5
50.9
41,6
71.5
67,7
60.8
20.4
73,7
69.1
65.9
63,5
53.5
54,1
36.2
52.2
66,8
55.9
53.1

11.0
64.4
70.9
36.2
72.5
V4-.4
70. 1
70.4
79.3
61.1
72,7
69.5
41.8
37,5
7 4.2
78.0
58.3
23.9
70.4
64.2
63.7
6 4.3
52.4
50-8
47 . ( ,
46.8
73.2
47.0
18.1

17.1
77 _•

!9.2
1 T ,f>
52.1
55.1
71.6
i i 5 •>
65.9
71.6
74 9
49.1
65, 1
62.2
3 0.8
57.6
62.1
60.5
51.1
41.1
70.2
73.3
11.6

16 . '
55.1
lO.i
i5 . '
6i .'
76,

11 .4
50.3
59.6
66.0
.H.i
41,1
67.2
57,2
47.6
28.2
W.S

ri,7
7G-4
64. <

50,8

If .
54 ,6
14 . '
57.6
hi .-

30.S
65.4
3*. 6
70.3
67.6
47.3
53.5

52,44B.1

65 .7
62.1
50.3
50.5
51.9
5 9.7
70-4
64.3
50.7
39.2
59.7
43.0
68.1
64.3
53.2
52.4

50.3

i'J.b
37 .4
70.1
57.2
53.0
6?.3
66,8
77,8
57.8
69.2
7 0. i
34.6
38.4
65. 1
57.3
46.9
*4 ,6
53.0
65.i
63 .6
30.0
S5 .9
33.5
65.4
*4,j
46,8
46 . 8

54.4
65 . 0
43.3
63.6
53.3
6 1 .4
72 . 8
77, g
65.9
51 .5
6 4.2
62,2
5 L2
5 7.3
16.5
53.0
50.J
57.8
58.3
64.8
60.8
54.1
33.0
5 9.7
36.3
73.3
6 1 .6
53,8
52.4

72.3
55.5
39.3
69.5
63.2
61.7
63.3
64. 1
66.5
63.7
66.3
58,7
31,4
49. 1
60.S
54.3
62.7
69.6
54.0
61.0
6 4.5
53.2
61.9
48.9
33.0
70.5
58,6
53.8
56,2

34.0
72 . 1
34.0
53.9
53.6
63. 1
80,8
79.0
42.5
50.9
58.7
42.3
4ft, 0
77,0
*?.]
51.1
34.1
66.9

61,0
66 .7
63,7
h'l . S
55.7
44.6
39.S
71 .6
3 1.1
IT .8
55.1

55,8
!S 5
46.8
64 . 8
64,5
38.4
65.6
48,7
63.2
67.2
63.5
65.i
35.1
29.7
73.4
6 ! .9
'i 3 1
53.2

74,3
58.3
29, i
70.4
46.1
47.6
6 = .ft
•
79.9
64 1
70. 1
74.4
54.4

IS,I
63,:
72.0
75.5
26. j
59,1
6 1 .8
68.8
7 1.8
53,2
65.1
34.6
31.9
65.9
52.4
'•A . 3
5 9. 7

/J.I
7 3.6
21.2
68.6

so. o
58.*
68.9
80.5
ft': . 0
66 . 3
67.3
59.3
41.9
62.5
(2.3
6 9.4
22 , 0
68.5
59.7
71.8
70.7
54.6
63.4
10-0
42.7
67 .6
55.4
53 , 3
59.7

74.9

i i ,6
44.0
r.1.4
56.6
63,0
72.4
77 .%
52.i
59.2
66. 7
44.9
40.0
71.0
71.0
55.6
24,2
70,5
>9 . 0
66.7

it.3
51.9
53.1
36,2
52.3
J9 . 1
55.8
49.8

\%.\
'•:. 1
44 5
64.9
>3 ,"•
ii .

65.1
'7.9
74, !
5 1 .4
64 '
6 3.*)
30,

51, <
63.1
56.1

so.:

46.1
it.'
68.7
-,l .4
11. !
•ir.o
67.9
55.4
50,9

JO.l
64.2
38. *
62.0
''fc , j
6 1 .6
73 .(
73.6
58..
55.'
63.

54.4
43.5
61 .
56,5
52.8
42.5
64.!
58.1
63. (
53.7
51.5
51.:
36.2
71.(
57.1
51.1
54.6

60.0
38,4
69.5
51.1
55.5
63.5
78.3
65.6
63.6
70.4
56.5
32.9
57.5
69.7
69.8
28.8
64.4
56.7
47.?
69.9
57.1
64,2
33.2
34.8
68.6
56.6
54.9
57.5

68,
43,
60.
58
58
66
73
69
55
64
60
37
53
65
61
44
49
ft 1
«1
<s"I

57
49.
49
36
65
62.
51
53

7
1
H
7
t
1
7
6
7
4
9
t
1
4
•;

8
[1

h
f
6
(,
4
t
1
0
9
3

1987...
963

0IPFFS1ON I!)D FK

OF

EMPLOYEES ON
{PERCENT

PRIVATE
RISING

NGSAGRICULTSJS.A
OVER 6 - MONTH SS'AKSl

-171-1
AVERAGE

FOB

FESIOD

: "

1 :::
1959...
1960...
1961...
1962...
S963...
1964...
1965. . .
1966. . .
196 7
1968...
1969.,.
197G...
1971...
1972.,.
1973...
13-7.4.,.
1975...
1976...
1977...
1978..,
1979...
1980...
1981 . . .
!9 8 2 . . .
1983.. .
1984...
5985...
19 86 . . .
1987...

i

I

92, 1
70.3
24.2
77.5
58.4
66,5
80.8
88..3
6i i
73.5
76.7
4-1.0
38.4
82,0
85.8
66.1
12.1
83.1
83,3
80.6
73.7
41 .4
70.5
IS. 1
49.3
78. 1
46.5
17.6

89.9
66.9
35.3
77.2
63.8
71.9
78,4
S5 .9
53.6
70.9
71.3
14.9
43.6
83.4
82.0
14.3
83.9
85.2
81.3
70,5
35,1
64.6
22.2
61.9
77.3
16 -5
17 .6




89.3
54.6
55.1
75.4

83.4
46 .6
59.0

hi..A
ft. •
81.
65 . 1
52 .
V5.j

66 . 8
78.1
80.5
SI.7
48.8
77.9
77.3
30 5
49.4
77.7
66.8

74.3
74.9
82.3
79.0
52,3
73,5
77.0
20.3
50.6
72,3
63,2

31,J
74.7
79.8
76.6
62.7
23.8
67,3
27,0
68.9
75.9
44 .1

48.9
70.4
79.0
78.5
56.5
26.5
65.4
72.2
76,8
70. 0

43,2

45.4

7

73,5
58.:
44.3
Jtft.
7 4.5
SO.2
77 . 4

il'i.6
S3 . '
67.6
10.5
(•!.'
T) .
66,•17. f
43.:
43 , i

!

81.3
38.3
73.7

LI

l><* .

1

82 .6
8 7 ./•
74.9
66.0
7 8.5
59.5
34.1
56.1
76.9
70.2

63.5
31.5
75.7
49.7
65.9
83.6
89.2
71.3
67.7
77.6
57.3
38,8
62.8
76.1
11.!

66 .6
[9.9
70.4
52.4
6 4.7
79.3
87.4
6S.0
64,3
77 . 0
54 . !
27,6
70.3
79.3

7 i.fl

77.4
20.3
73.3
45.5
65.6
82 . 0
89,2
65 . 0
66.9
76.5
53.5
30.5
77.6
82 , 8
71,4

69.6
66. 1
74.?
75.5
48.4
45 . 4
36.5
18.6
79.5
61.1
41,3
53.0

75.3
65.1
1*1 . 1
76.6
50.0
6!.6
31,9
21 .1
79.2
58,4
19,2
59 .2

78.8
68.8
78,1
78.2
52.4
74.6
21,6
13.8
79.2
55. j
49.2
58,9

81.7
72,0
80.1
73.1
54.3
69,7
26.5
27.3
78,S
50.0
47 . 1
57.8

77.3
36.5
7 ! .6
hi . 4
7 1.3
80,5
85.9
74.3
51.7
75.3
70.6
32.7
61.6
71.8
57.5

66.0
26.7
78. 1
6 \ .1
68.6
7 B , 'I
86.8
77.3
59.6
7B.5
67.7
24.1
55.3
73.7
6 1 .6

60.4
24.5
76,"
50."
61.7

57.0
71.8
77.7
76.6
4«.7
37.3
5S.6
21.6
78.6
66.8
45. 2
48.4

67.3
62 .9
71.9
71,5
54.9
33.0
21.4
80.5
64 1
43,0
47 . 3

63.3
20.9
73.5
54.2
67.7
82 . 0
90.7
65.0
70.9
76 . 7
4<i .1
26.7
77.6
82.5
75.1
13.4
80.6
73.9
79,S
74. i
53,S
70.0
11 A
33. j
77.S
53.4
45.?
58.9

90.4
S3.9
36.1
76.7

80.7
40.5
'.ft. 1

i'i.7
70,9
flO.l
86 .7
55.6
73.1
11 .i

70.)
77.S
S2 .'.

34.7
42.1

hH.t

ix.-

50.9
75.6
(5.1
M,5

83.9
80.8

53.:
73.t
63.2

15.5
51.5
84.0
SH.3
70.3
35.7
65.7
21.0
59.2
77.S
45.4
46. 1

45,7
'?.'•
78,1
77,J
56,-:
25. e
i 2 .4
J3.6
74. t
3 0.'
41.6
45.;

63 .3
24 .2
7ft. <
53.^
65.1
81.:
B7.8
74.5
64.4
78.2
t-1.4
25.7
58,(
75.6
67.7
70.7
64.7
75. (
74,5
51.1
46.7
38.1
31,4
79.7

ii,;
45.5
53.2

67.5
20.3
11. 0
50.7
66.0
81.1
BS , i
66.0
67.3
76 .7
52. i
38.3
75,2
SI.5
72.3
16.8
80.4
71.6
79.4
75.2
53.5
U . 4
24.4
28.1
78.4
52.5
47.5
58,5

75.
37. 7
Wi . 1
63. S
66. 1
7 7 . •1
85- 0
76. 4
59. i
75.
63. 7
28. i
5 7 >1
78. 7
71. 0
53- 1
72. 1
3
77. 0
57. *
44 .
47. !
23.
73.

5
1

*5 - 5
45.
50.

7
9

C, Historical Data for Selected Series—Continued
1

Jan.

Year

Feb.

Apr.

Mat.
930.

5 3.3
57.9
52,6
60.0
67 ,0
7i.J*
64. i
74.9

1953...
1954...
19 55 . . .
1 956 . . .
1957...
1958...
1959...
I960...
196 1 . . .
196 ? . . .
1963,,.
1964...
S965. . .
1966...
1967...
196S...
!969 . . .

76 . 7
73.8
77 . 9
81,9
87 . 8
92 . 4
99,3
99 ,S
104.9
14.8
109.1
104,4
106 .2
14,6
J2i-C
104.3
103.8
i l l .4
S59.2
126.2
12 1 .7
S26 , 5
1 17 . 8
1 15 . 0
131.6
340.5

1970.. .
1971...
1972...
1973...
1974...
1975...
1976...
1977 . . .
1978...
1979...
!9SO...
1991...
19S2 . , .
1983..,
19S4.. .
1965 . . .
1986.. .
19B7...

9

54 . i
56.3
53.0
61.2
67.0
69.2
64,3
77 , 0
75.8
73.9
78.3
83.4
88.2
9 3.6
100.3
100,3
5 05-9
115.1

53.8
57.3
52.7
60.2
66.6
69.3
64.0
76.2
76 . 6
73.5
78.)
82 . 9
87 .7
93.3
99.6
100.4
S05.6
114.8
108.»
104,2
(07.3
1S4.4
J 1 9-0
103.8
104.3
S 11 .6
119.7
127.1
120.7
125.6

00.

108.)

CHANGE

IN

CCiPOStTf:

55 ,2
5 5.3
52.6
62.5
67.8
67.8
6 4.3
77.3
75.0
74.5
78.3
83.8
88,9
94.6
100.2
101.1
10? , 0
513.7
1(57.2
104.7
109.4
U5.6
115.2
S02.B
104.7
111.6
5 2 1,7
532.3
119.0
126 . 3
115,9
1 ? <1. 6
133.3
140.5

104.4
107 .6
113.6
1 18.6
103.3
104.2
112.3
118.8
1 30, i
119.0
125. S
116.9
£18. J
132.9
142.3

117.9
I 16.7
131.9
34! . 1

May

COMPOSITE
{A

1.0
- 1 1 .6
-6.6
12 . 8
11.*
-20.7
-10.6
-4.7
-7.5

19bi.
1954...
1 91>5 . . .
1956...
1957...
I95S...
1959...
196 0 . . .
196 1 . . .
1962...
1963...
!96 4. . .
1965...
19.66...
1967. . .
3968...
1969...
1970...
1571 . . .
1972...
1973...
1974...
1475...
1*76...
1977...
1978...
1979...
1380...
1981...
19 82 . . .
!?83. . .
1984...
1985...
1986...

J9S7. . .

14.0
-1.5

11 . 9
-11.8
2.3
4. 1
-6.9
-34.6
-1.9
22.9
-1.6
-4.S
3. 1
15.7
10. 1
1.2 . 3

-7 .0
13.3
1.3
0.0
2.4
7, 1
37.4
-18.7
-15.7
17.3
1.1
-1.0
-1.4
1 . 2
24.3
12 .9
1.0
-12.0
22.2
-13.2
-9.9
14.7
8.9

j

-3.3
-2.3
13.2
-2. 1
-18,1
-5.6
5.9
2.2
5 .2
8-9
•9.4
-8.2
J .0
19.3
2 .8
5.2

30.2

-16.8

i.i
7.5

S.'i
o.o

9 3 OC.

1953.

1954...
1955 . . .
1956.. .
1957...
1958...
1959. . I960.. .
l.fil . . •
1962. . .
196 3 . . .
196 4 . . .
1.965...
S966...
1967...
1968...
1969...
i970...
1971...
1972...
1973...
1975...
1975...
1976...
1977...
2978...
1979..,
1980...
1981..1982 . . ,
1963.. .
1984...
1985...
1986...
39S7...

11.6
-6.7
-2.1

5.5
-17.1}
1.3
-1.0
J. j
5.1
3,1
4.0
9.7
6.2
2,4
3.3
9.6
13.2
-13.4
-6.6
8.6
2.8
-2.3
-3.4
S.9
9-9
9.2
2.6
2.0
3.6
-8.4
5.7
5.7
7.7
-2.S

3.5
3.2
-5 .4
2.3
3.4
-8.1
-4.0
-5,6
-1,1
7,8
-8,7
33,5
-15.7
i.9
-9,7
15.4
9,5
SO.7
-7.3

CHAfi GE

IH

-20,1
-2.5
9.9
-7. J
5,0
1 -5
4,9
10. 1
5.8
4.1
2 ,8
6.3
12.3
-9.4
-5,5
SI .3
-3.3

-i.e
-6.8
3 .2
.
52.6
3.5
- 17.8
-i.6
3.5
0.7
8.7
20.8
-a.6
-0.6
-6.3
20.9
5.3
0.0
-7.3

-a.o
-4.9
S .9
Si.O
2.7
13.7

- !! .4
4.6

-7 .5
I .4
S.9
8,3
-2.5

2 1.6
- 15.7
3.8
26 .9
9.3
-24.5
13,S
13.2
-10.5
7,3
2.i
2.9
9.9
10 .?
2.4
4.5
9.4
-4. !
-5.4
3.5
a.9
8.3
-19.3
- 1 .5
3.5
4.4
4.4
8. 1
5, 1
2 .1
-12.0
23.0
9.4

0.9
-1 . 4

July

ICDtX
OF 6 LAGGING
( 1967«100)

56.5
54.9
53.J
63.9
69. 1
64.6
64.1
7K.6
74.5
(4.8
78.5
83-5
S9.8
95.6
100.2
SOS.5
S08.0
111,6
107.3
105. S
S09.6
116.7
112,8
103.4
105.2
3 12.8
321.0
129-6
122 .2

56.8
54,3
53.9
64,4
68. 1
6 3.3
68.3
79.4
73.7
75.6
19. (7
84.3
69.9
96.4
iOC.4
101.8
109.2
154,0
505 .2
105.9
110.7
t 17. 1
SOS.6
102.9
106,3
113.7
5.22.3
125.5
122.4

326 . 3
114.2
J22.9
134.9
541.4

126,5
113.8
124.9
134,9
141.6

Ji»t:x
KUA.L

j

1

j

J

56.9
54.1
54.2
66.1
68.4
62.6
69.4
79.2
73 . 3
75 .9
?9.5
83.8
89.7
9 1 .0
100.5
101,5
109.3
113.5
106.0
S05.4
i. 12 . 0
117.1
108.0
S03.2
506.2
134.3
122 . 3
121.8
127.5
525.8
113,6
! 2 J , 8

£35.3
14S.8

Aug.

6 . 6 [
-12.4
[
S7.0
1
9.8
0.0
-21.6
j
48.1
52.9
-12.2
1.1.*)
7,9
52.1
1.3
10.5
2.4
3.6
14.2
4.3
- 2 1 . !
9.5
12.7
4.2
-36.6
-5.)
13.3
10.0
(3.7
-32.0
2.0
1,9
-4.1
2 1 .4
0.0
1,7
0.0

2.1
-4.3
6.9
36.7
5.4
-12.1
2 1.1
-3.0
-6.3
4.9
7.9
-6.9
- 2 .6
7.7
1,2
-3.5
\.l
-5,1
9.5
-5,5
15.0
o.o
-6.4
3,6
-1.5
6.5
O.O
-30.5
1.0
-6.4
-2.1
9.0
3.6
S.7
-5.0

12.9
-8.4
12.7
25.1
3.6
-27,3
35.7
SO.2
-8.8
1.7
6,3
0.0
3.6
[0.5
1.2
1.6
8,9
-C. 7
-4.4
2.7
9,9
5.3
-22.8
1 .6
5.9
10.0
2.0
-2S.2
12,3
-1.6
-7.7
18.4
6.1
1.8
-1.7

|

I

5.*
-9.8
27.2
6.4
S8.2
•15.)
36.1
-1.0
-7.3
7.7
7.9
7,4
4,5
8.2
-!.6
2.6
7.2
1.£
-S-!
-0.4
9,1
1.7
-19.3
-0,8
7.8
?,3
6.9
--25.3
3.6
-7.1
1.4
16,2
2.1
Z.3
-2.0

Oct.

Nov.

Dec.

10

ii Q

111 Q

AVERAGE
57.3
53.5
56.5
6 4.9
7 1.0
61 . 9
7 1.4
78.4
73.1
76.2
80.0
85.0
90.7
97.5
99.8
iO2.2
109.9
11*.1
iO7.0
105.0
112.0
117.2
106,9
103.2
10!.2
114.8
123.0
[29.5
123.3
124.0
!14.6
!37,6
135 .6
142.2

OVER

57 . 9
5 3.2
56 .9
6 5.9
72.3
63.5
IS . I
75.8
73.4
76.6
80.3
85.9
90.5
97.5
100. 3
102 .5
110.4
113.6
106.9
104.9
113.2
1 18.6
105,9

58, 1
53.0
58. 2
66 ,S
7 1.8
64.0
76,?
7 5.8
73.1
77, 1
80,7
86.6
91.7.
9?.?
101). 1
102 . 6

ill,!

107.7
115.4
124,7

113,5
106 .4
105.1
S13,3
1S8.7
106.0
104.2
10S.3
S 1 5 .3
125.S

119.^
124,7
123.4
1 14 .4
128.9
137.1
141 . 6

119,0
525,0
1.22.1
114.1
13 0 , 1
138.5
143.7

{<!} .1

1-H0HT5

58.3
53 ,0
59,4
66 .6
12.6
63.8
l i .4
76.4
72 . 6
7 7 ,1
82 . 1
85 . J
9 ! .9
99,0
99.6
503.2
111.3
112.8
106.0
5.05.1
113,6
1 19 . 7
104.7
i 03, 8
109 . 0
117.1
126 , 3
S20. 1
124,5
12!),5
115.1
130. 3
! 38.5
1*3.4

5H.5
5J .9
59.4
66.4
<"3,2
64.7

!';.2
77 .1
J3.0
78.0
82 .4
86 . 1
97 . 1
99.3
99 ,6
104.3
! 11 . 8
3 ! ! .0
105 .9
tOi.S
134.5
12 1 - i
iO4,6
!»3.7
109.4
118.0
136, 1
123.0
124.4
139,2
336.0
130. 1

159.5
S42.4

53.7
5 7.2
5 2.8
60,5
66.9
70. t
6 4. j
76 . 0
76 . 4
73.7
78.1
82. 7
87 . 6
93-1
99 ,7
100,2
105.5
114.9
1 OR- J
1S4 . 3
107 . 0
114.2
119.5
303-S
104. 1
113.8
119.2
127,8
12 0 . 5
J26.0
117.5
116.6
132.1
141.3

56. J
54.fi
53.2
63.6
68,0
65.2
66.2
78.4
74.4
75.0
78.6
83.9
89 ,5
95,5
100.3
I (51 . 5
SOB. !
1 13.S
106,6

iv o

Annual

1 MS. 2
109.9
I 16,5
112.1
103.0
105,4
113.1
121,7
129 . 1
121,2
(26.4
1 14.6
127.8
! 34 ,4
141.2

FOB
57.4
53-6
i$.9
65 .6
70.6
62 .7
72.0
77.8
73.3
76.2

79-9
84,9
90.3
97.3
10 0 . 2

\a?. .i
L09.9
113.7
106.6
j os - j
1 12 . 4
S17.6
106.9
103.4
107.0
i 54.8
12 3 . 3
120.6
123,5
124 .It
114,2
12 7 , 4
(36.0
S 4 1 .9

OV E

8.0
-7.9
24.3
9.6
27.0
1.3
46 ,2
"16-9
-1.6
5,4
6.7
?,8
2,7
4.6
-0.4
2.8
4,5
-1,4
6.6
-3.7
9.3
5.2
-9,6
3.9
5.4
6.1
S.I
-18.1
(.7
-9.4
2,1
13.4
6,7
0.0
3,8

13,3
-6.5
8.S
20, !
24,3

35.8
83.4
-33 , i
5.0
6.5

4 .6
13.5
-2,6

o.o
6.2
3.6
5.6

-5.1
-;. r
-1.1
13,6
15.3
-10.7
8.5
5.7
6.5
17,9
-SO.4
14.5
-5,7
-2 . 1
12,9
14.1
-4.9
15.4
3-MOHTH

4.2
-4.4
31.1
1.8
-S.O
9.9
21.0
0.0
-4.8
S. 1
6.1
10.2
9.7
2 .5
-2.4
1..2
7.9
-l.S
-S.5
2 .3
1.1
1.0
1 . 5
3.5
5.9
-1.0
11.1
-3.9
2.9
-11.9
-3. 1
11.8
13.0
19.3

4 .2
0.0
27.8
SS,5
14.2
-3. 7
1 .6
9.9
-T.9
6.4
22.9
-11,8
9 .6
17.2
-5.8
7 .2
2.2
-7.2
0.0
3.2
10,6
-13,H
-4.5
8,0
SO.4
4.9
LI.7
-4.;
-14,6
11.0
0.0
0.0
-2.5

4.2
-2. S
0.0
-3.5
1 0.4
18.3
-17.3
13.3
6.8
8. 0
4,5

5 .'!
5.3
3, 7
0.0
J3.6
5 .5
• S7,6
-1 . f
-3.4
9.9
15.0
••

j

.

l

- 1. i
4.5
9.6

-1.9
33.2
- 1 .0
-12 .2
9,8
0.0
9.0

-8. 1

8.6
-14. 1
0.9
12.9
4.0
- 19,0
-1.1
10,5
••7,0
5.3
1.6
5.4

10,2
5.8
4.2
2,9
6.3

1 3.5
•••

9

.

!

-5.2
11,3
-3.0
-7,7
-4.9
2.0
1 5 .4
3.1
34.5
- ! 2 .4
5,3
-7.3
8.3
9 . 0
8,3
-1,3

22.0
-J3.4

8.3
-7.8
26.8
12 . 4
28.7

7.6

23.0
6.9

-29.1
29.1
13.3
-10.6
9.6
3.7
4.6
8.0

3.6
4 8.4
-15.9
-1,5
5.4

s,e
8,4
3.0
4.7
-0.2
2.9
4.5
- '..2
6.8
-3.7
9.5
5.4

12 .5
O.I.
6.J

13, J
-3.5
-10.5
5,9

12.3
13.2
-29.5
-1.4
8,4
5.5
S3.5
-10.9
S3.2
2.3
-10.0
25. 1
6.4
-1.5
f . 1

-9.6
4,0
5,5
6. I
S.3
-17,6
7.9
-9.3
2.3
J3.5
6.8
O.I
3,2

66 .3
73.5
64,2
56.0
If, . 5
72.9
77.5
81.7
86. 1
91 . 8
98,7
99.8
(03,-t
111.4
112.4
106 . 1
105.0
113.8
1 19.8
105 . S
SO3.9
108.9
116.8
126. S
120.7
124.6
120.6
1 15 . !
S30.1
138.S
143.2

m.i

S41 ,9

ESI0D
10.7
-9.4
13.7
12 , 9
11,3
-9.1
19.3
3.9
-5.3
6 .1
5 .£
4 . 9
7 .(,
7,7
0.4
4.5
7.3
0.0
-4.1
-0.8
9 .5
6.1
-12.8
-0.7
5.6
8.2
7.4
-!>. 1
1.9
- 3.7

4,2
•2.2
19.6
3.3
5.5
8.2
1 .8
7.7
-2 .0
7 .5
11.2
1 .4
8.2
7 ,8
-2.1
7 .3
5,2
-8.6
-3.7
-0.4
4.7
8.9
-4.6
-0.7
6.5

9,7
4.7
n.?
-0.9
-12 .9
5,9
3.9
7.3
2.9

-2.3
12.;
7 ,4
2 .4

SPANS 1
AVERAGE

9. 7
-7.9
33,0
-0,6
2 1.4
9,3
46 . 1
-16,1
-1.1
6.5
6.2
14.1
6.9
2 , 9
-1,6
4,4
6.8
0.0
1.5
-1.1
4.7
5.6
- 7.2
3.9
8.1
3.5
II.9
-8.9
8.4
• i ! . 3
l.S
14.4
9.8
5 .5

56 . fi
54 ,6
55,2
64.0
6 9.6
65.5
69.6
17.1.
74.2
75.6
79.6
84 .4
89.8
96 .2
100.0
11)1.S
SOS.7
113.7
107 , 0
5 04.9
ISO.8
117.0
110.9
103.5
106.4
114.0
122.6
124 .6
['2.4
124.3
115.4
12 4 . 2

58.3
53.0

SPANS

AVBBAGE FOR

8,8
-12.5
64.7
-59.7
56.5
-12.6
40.6
- U .5
-3.2
4.8
7.8
18.6
i4.2
6.4
-8.0
S.6
6,8
6.5
11,9
-4.5
0.0
i.o
-i!.(i
0.0
31.9
5.4
7.1
-52.1
S.5
-15.9
11. S
18.6
2.7
3.4
-0.6

(!f 6 LACCING INDICATORS
BATE, PERCENT)

2! .5
• 13.5
7.0
22.6
6.7
-30.0
27.3
13.1
-10.6
9.5
3.6
4.4
7.9
12.5
0.4
6,1
13.!
- 3 . 8
-11.0
5.9
S3.0
J2. 9
-29.7
-1.5
8.3
5.1
12.3
-13,7
11.9
2.2
-10.7
25. i
6.2
-? ,0
J, J

Sept,

ISSIMTOB

OF 6 LAGGING INDICATORS
RATS,
PESCFNT)

32,2
•8.3
14.6
30,5
5.4
-44.0
39.3
22.2
-7.7
4.9
3.1
•4.2
12.S
J3.4
0.0
4.9
11.8
-S.I
! . 1
4.7
2.2
12.0
-22.3
7.2
5.9
13.7
-«.?
-21.9
37,5
0.0
-16.2
25.4
15.4
S.O
0.0

NKEX
COMPOSITE
(AflNilAL

? rt . I)
-16.8
0.0
17.7
4.9
- 20 . 5
1 . 3
13,4
-8.6
3.8
2.1
9.6
9,0
9.9
3.7
5.3
S.3

8, 6
-14.2
0.8
12.7
3 . 1




27.3
- 19.4
-S.7
25.7
15.3
-2 ! ,8
0.0
4.8
- 12 . 0
10. 2
0.0
5 .9
|
10.0
13.6
- 1 .2
SO.O
!3.2
-13.7
- 1 1.5
3.5
22.0
23.3
•29.5
-5.7
5 .9
-7.2
3}.*
2S .2
0.0
4.9
-9.8
1
28.6
3.7
1 -14.2
3.4

6.9
-19.0
1.1)
21.9
7,5
-1.7
5.8
13.4
-13.8
6 . 1
3.1
7.5
7.1
3.9
8.8
-1.2

June

1.2
-1.1
22.2
10.9
9 .3
12,9
31.1
-9,8
-2. 7
7.0
10,9
3.3
5 .4

b.'i
0.8
4,0
5.2

-4.5
-3.7
0.4
5.8
8.8

-S.O
2.3
6 . 9
8,3

II.?
-1.3
4,0

- 10.8
J .8
S.I
8.8
3,4

4.2
-2,2
IS.8
3 . 1
5 .1
7 .8

0,5
7 .6
••2.2
7.5
!0.9
0.9
8.2
7,6
-2.8
7 ,2
5 .2
-8.8
-3.7
-0.4
4.7
S.7
-4.8
-0.8
6.5
9.3
4.6
12.6
-1.0

-12.9
5 .7
3.8

-1.4

11 .9

-S.O
13.0
6.2

-12,6
-0.5
12.0
2 .9
•11.2
0.0
7.4
-4.9
!>,&
2 .2
6,2
9.6
7 , 3
3.4
3.8
8. 1
7 .2
-9.9
-3.6
10.8
1.1
-9.4
-4.6
2 .4
7 .2
6.9
!2.4

n.O
0.6
••

7 .

!

4.8
3.9
4, 2
6 . 1
1 .9
5.4
6 . 7
-1.2
9.3
1 4. 0
• 14,6
-7 .3

4.3
4.7
8.0

-6.3
-1.5
u .0

14.!
) . 3
9.4
4.9
-13.4
3.2
4.7

7.1

5.9

2 .3

2 .5

-6.3
2,5
-7,4
15.1
6.6
5.3
-4.2

18.7
-12,5
7.8
24.9
6.5
-11.
3
25.6
11.7
-10.0
8.3
4.0
2,4
7,1
11,1
1,3
4,1
! 0 . 5
-2.9
-6,9
4.0
10.3
8,8
-23.9
-0.5
5.9
6.5
6.2
-11.3
9.8
0.9
-SO.O
22 .2
7,2
0.9
-0.7

FOE

7,5
-S.5
2S.1
5. 1
22.2
-1.7
42.S
-11.3
-3.3

6.5
6.9
9.8
4.6
5.2
- 1 .2
3,3
6.2
0. 1
2.3
-1.7
7.7
4.2
- 12.0
2.3
7.3
5.6
8.9
• S7.4
6.6
-9.3
l.S
14.7
6.2

2.6

E.RIOD
10.3
-9.1
13,4
82.2
9, 1
• JO.3
19.2
2.3
-4.6
6,4
5,6
5.1
6.9
7.6
0.5
4 . 5
8.2
-1.2
-4.S

3.3
-3.0
18.0
6.7
4.S
7,3
8.2
0.9
-0.3
6.2
9.3
2 .0
6 .3
6.9
- 1 .«
6.8
S.I
-9.3

-i.9
3 .4
5.1
8.5
-6.4

0.0
8.4
5.6
-12.9
-0.7
6.0
7.5

0.0
8.5
10.6
5 .7
6.9
2.6
-13.4
3.6

6.9
-2.4
3.2
-4.5
-3.0
f 3.4
6.8
2.9

5.5
7,3
2 .7
_

od,

these ser

C, Historical Data for Selected Series—Continued
Year
26 .

1953.
19 5 4 .
1955 .
1956 .
[957.
1956.
1959.
1960.
196 1 .
19*3.
1963 .
J964.
1965.
1966 ,
1967.
[968.
1969.
1970.
397i.
1972 .
1973.
1974.
1975.
1976.
!977 .
S97S.
1979.
1980.
1981,
1982 ,
1983.
[984.
1985.
1986.
1987.

IN

il Q

99.0
9 7.0
100.5
99.i
98. J
96.7
1
1

99-6
98.8
96.6
99 . 0
99 . 4
100.6
[01.6

101.9
1 100.6
300.7
99 . 8
96.3
98,5
98.7
99,0
96,7
97.2
ioo.o
99.5
98.5
98.2
96, 7
97.7
95.8
96.2
98.7
99.1
99.5

98.8
97.7
98 . 4
9«.t
97,5
i00.4
97.6
98.0
98.2
t oo. o
100.6
101 . 4
101.1
100.7
30] .2
99.3
97 . 4
98,5
98.8
97.7
96.3
98.8
99.8
100.1
99.9
97.7
95 . 8
97.3
95.7
98.1
99 . 4
99.3
99,3

IV Q

HIQ

RATIO,
I M P L I C I T P R I C E DEFLATOR TO U N I T LASO
(INDEX:
!977=10
NOSFAKM BUSINESS SECTOK
98.6
98.1
100.7
98,0
98.3
97 . 7
98.8
97.7
98.4
99 .2
100.4
100.8
S02.0
ISO.6
100.9
100.7
98.5
97.4
99.0
98.9
97.1
96 . 1
100.2
99.3
kOO .7
99.6
97.1
95.8
97.9
95.3
98.3
99.1
99 . 5
99.4

3954.
195^ .
1956 .
1957 .
1958.
1959 .
i960.
I 96 '; ., , .
1962,
1963.
1964.
1965.
1966 .
5967.

44,084
48,684
54,726
72 , 0 9 6
7 3 , 7 36
59,368
63,868
102,004
86 , 3 0 0
i09,920
137 , 2 4 S
205,016
374,392
93,804
182 , 9 8 4

H72.
1973.
H74.
1975.
1976.
1"7 7 .
S978.
19 7 9 .
1980,
1981 .
1982.
!983.
I 9 84 .
1985,
1986 .
19*7 , . . . .
CHANGE

(953. . . . .
195.5-. ,
1956.
3957 .
1958. .
1959.
1960. .
196 1 .
1962. .
1963. .
1964.
1965.
1966. .

. . .

. . .
. . .
. . .
. , ,

. . ,

1967.
1968.
1909.
t9 0.
1 " i.
19
19 3 .
19 4 .
19 5 .
E9 6 .
19 7 .
19 8 .
19 9 .
39SO.
198 1 .
1982.
1961 . , - , .
19 S4.
19P5 .
19S6.
3987.

22 , 3 4 4
27,080
38,644
30,968
27,640
26,864
48,004
11 ,06.442 , 9 8 4
48 , 4 4 8
56 , 8 7 2
66 , 6 0 4
73,184
59,612
72,344
90,856
90,980
84,520
131,356
144,000
188,928
181,160
12S.56S
195,7!fi

311 * 2 s a
352 , 5 3 3
352,104
294 , 7 0 0
252,44?
256,424
495,236
46 5 , 1 4 4
409,120

j
[

1968,
1169.
1*70.

200B.

2 0 , 6 88
19,376
36 . 9 4 4
33,572
32.836
2 6,07 6
48,956
3 9,244
30,340
48,264
57,444
5 9,628
66 , 4 6 8
77,S12
64,352
SI ,200
98,136
81,936
109 , 4 8 0
132,856
180,508
204,352
94,116
178.448
332,144
3 7 5,032
373 , 5 4 0
3 4 8 , 3 16
266,424
3 34,816
630,704
5)9,244
575,088

34 0 , 5 88
423,884
29!,792
350,444
3 6 5 , 120
415,3(6
472,836
556 , 5 6 8
73 5,828

25,116
5 8 , 4 84

|

33,700
3 6 , 5 64
31,852
26,928
39,044
i ! ,116
<1 H O

IN KROSS NATIONAL PRO <)VCT IN CURRENT
(AHSUAL R T E , B I L L I O N S OF D0LLAHS)
6,7
12.S
2.1)
9.0
-7.0
10.9
13.7
4,4
J2.9
9.3
14.8
22.1
7'/ H
8,8
25.8
23.9
10.7
44.3
39.2
48. 1
12,9
7.8
52.7
5 5.4
49,0
52,9
81 . 5
130.2
-1.8
55.3
i 39 . 1
6 9.3
70.0




3.4
0.2
8.3
5.6
2.3
4.0
12.7
-1.6
10.5
! .8
8.2
6.7
32.3
0 ,8
6.2
? ^ . 8
14.3
14.7
19. 1
30.)
3 ! .3
32.9
38.9
30.9
69.a
118.9
54.0
-0.8
38.9
46.9
SOI . 6
79.3
52,5
37.2

-0.8
4 . 7
8.2
4.S
! .1
I 3. 1
0.2
3.2
10.6
7.0
!2.8
10,4
15.7
13,1
j 7.0
36.9
19.8
19.0
19.6
26.7
26.5
30.0
63.9
32 . 9
62,7
59.2
71.6
6 1.8
81.9
19,9
76.5
53.7
68,4
54.3

63,

}

IQ

98.3
98. 0
100.4
9 8.4
98.2
97.8
99.4
9T.6
98.0
99.0
j oo. o
100.6
101.8
101 .2
100.9
100.7
98.8
97.1
98.S
99 . 0
97.8
96,3
99.0
99.6
iCO.E
99-4

96-3
96.4
96.9
95 . 4
98.7
99.1
98.5
98.4

97,3
96.2
97.4

j

95.6
97.9
99. !
99.1
99.2

1973.....
1974.....
19J5
19J6
!9'7
1978
1979
i960...,.
1981-,,,.
19 82
1983.
3984
1985
i186
19 87

GEQES NAT10W L
(ANNUAL BAT ,

AVERAGE
20,97 1
23,535
37,064
33,132
30,038
30,604
44,292
16,162
38,128
47,437
55,529
61 , 3 8 7
69,394
64,581
68,683
85,275
95,556
84,021
116,569
147,323
183,351
174,564
116,244
193,537
2 7 3 , 6 77
342,222
363.335
286,628
3 3 2,043
343.5 7 3
380.963
563,412
632,333
628,033

15,436
29 , 2 0 0
39,968
31,414
27,824
42 , 5 4 8
41,164
35.,2-14
47 , 9 2 8
48,952
59,116
64,588
65,828
4 7 , 164
78,668
1 0 5 , 2 16
90,304
83,528
115,110
174,788
158,952
[38,352
148,488
2 17,06 8
292 , 6 2 4
384,868
301,892
329,076
254,712
190,300
517,496
654,872
948,376
794,096

I

lUFyeSENCEi
20.0

-5.1
1

33.4
22.3
22.8
5.8
39. 0
19.5
18.5
40.8
32 . 3
43.9
55.3
66.9
44.4
76.3
7 1.2
51.6
87 . 2
110.1
146.5
113.5
125,6
184.4
2 01 . ?
259.2
258.5
223.8
320.6
113.4
239.7
366.5
238. 1
224.7

j

1953
1954...,.
19 55
3 956
J 957
1958
1959

me
1 96 3
1962.
1963
1964.....
196 5
3 96 6
1 967
196B
1969
1970

mi
197!
1973
1974.....
1975
1976
1 977 . . . . .
197*.
1979.....
1980
1981
igaj
1983
1984,....
1985
1986
5987
20OC.

DCLLAiiS

6.4
8,4
-5.6
13,2
4.4
-4.7
l'i.0
3.6
9.0
4-6
25.3
13.?
14.2
13.8
8. 1
3.0
13.4
39.6
43.9
27,7
50.8
49.0
30.8
78,3
45.4
114,6
14.8
33.)
10! .9
43.9
62.4
22.2

42.6
43.5
42.9
44.7
46.7
48.2
48.0
*>9 . 4
50,1
50.3
50.5
50.4
51,]
53,0
54. 7
56.4
59.5
64.9
66.2
69.5
71.2
78.5
88,6
91.7
98.0
105.2
3!4.5
537.3
138.4
15-1.5
156.8
357.8
361,9
165.0

1953
1954.....
195 5
J95 6
1957
1958
1959
194 6
196 1
1962
1 963 . . . . .
1964
19*5
1966
19*7
3968.....
1969
1970
19U
S9I2.....

200
1

HQ

|

370.7
367.9
394.0
419.5
447,3
443.9
485.1
516.1
517.4
564.4
592.1
636.9
682.7
754.8
799.7
863.9
945.3
994.2
5675.2
1166.5
1311.6
1436.2
1524.6
*730.9
1899 . 1
2111-4
3420.5
3673.0
2978.8
311J.6
3365.8
3674.9
3921.1
4174.4

42.6
43-8
43.1
45 . 4
47. J
48.0
47.8
49.7
49.9
50.7
50.1
50.7
51 .2
53.1
54.5
56.8
60.8
65.2
1.7.3
69.3
73.2
81 . 4
88.4
93.4
99 . 4
i 06 . 0
117.9
131 . 9
14] . 1
153 . 5
155.5
158.0
162.8
166.2

iV Q

IflQ

HEX OF U N I T L BOH COST, BUSINESS
!1977»100)

I

AVERAGE
96.7
99. I
100.2
98.3
97.7
99.2
98.6
96 .6
99.0
99.8
100.2
100.4
5 02.2
101.1
101 . 3
100.2
97.5
97.3
99.0
99.6
97.5
96.3
99. g
99,1
9^ ,6
99.4

1 0 . FUNDS RAISED HV PRIVATE N ONFINANCIAS. BOR OWERS
C R E D I T MARKETS 1
( A N N U A L R A T E , M I L L I O N S OF DOLLARS)

1953.

Year

Annual

COST,

373.3
3 1 1 ,B
410.5
429.9
456,5
461 , 0
498.0
517.7
538.5
579.2
633.1
656.0
710.7
777.7
832.9
903.6
975.4
1027.9
1113,9
1223,9
1369.4
!489.1
1627.4
1794.7
2 031 . 6
2289.5
2 5 46.5
2734.0
3099.6
3179.4
3443.9
3807.9
4042.0
4265.9

PERCENT CHAKGE I S GROSS NATIONAL PRODUCT I N
HOLLARS
(A HVAt SATE, P E R C E N T ;

[953
19 5 4 ,
19 S 3 . . . . ' .
1956
1957
1958
1959
I960
196 1
1962
i963
1964
196 5
}966,....
1967,.,,,
1968
1969
I 97 0
197 1
i 972.....
1973
1974
1975
3976
1977
1978
1979.....
1980
398!
3 9 82
3983.,,..
1984
1985
5 9 86
(987

7.6
-Q.3
14.1
2.6
8.5
-6,1
9.5
11 . ( ,
3.5
9.7
ft.5
9.9
14.1
[3.1
4,5

\

J

12.9
10.8
4.4
Sft.i
[4.7
16.1
3.7
:. J
13.1
11,6
9 .8
9 ,2
13-2
19.6
-0.1
6.8
15-4
7.4
7.0

AVERAGE
42 . 8
41.3,
43.7
46. I
47.8
47.6
49 . 1
50. 1
49.7
50.5
50.5
5!.l
51.2
54.4
55.0
5B.9
63,2

43.0
43.2
43.:
45.S
47.4
48.1
49.0
49.8
49.9
50.3
5 0.2
50.8
51.2
53,6
54.6
57.6
62 . 0
65.3
67, B
69.9
75.1
84.5
88.6
95.2
99.8
108.4
121.1
134.3
143.5
156 . 2
156.8
159.9
163.6
167.5

66,3
68.5
69.9
76-3
86,6
90.6
97.0
102.5
H0.S
3.H.6
136.6
147.8
156.S
157.7
160.8
166.!
169.0

PROBUCT I N CURRENT DO1.LA RS
B I L L I O N S OF DOLLARS)
374,1
i&B.l
402.3
425.1
449 .4
447.9
49 7 . 8
514.5
527.9
572.2
600.3
645.6
695 . 0
764.6
805.9
8S6.7
955.6
1008.9
1094.3
j 197 .2
1343.9
1*59.1
1563.5
1761 .8
1968.9
2230.3
2474.5
2672.2
3017.7
3159 ,5
3 36 7 . 4
3754,2
3973.6
4211,6

3 , 7
0. 3
8.6
5.4
1.9
3.7
10.9
- 1 .2
8.4
5.6
5.7
5.6
7.4
5 . 3
3. 5
11.5
6,2
6.0
1 .3
11 . 0
9,9
9,6
10,6
7,3
15.5
24.5
9.2
-0. 1
5 .3
* .1
13.0
8.9
5 .5
3.6

Annual

SSCfOR

••0.9

's , 1
8.4
4. 7
6.5
12.2
0.2
2.5
8.3
5.0
8.8
6.6
9.3
7 . 0
8.7
7.8
8.5
7.7
1 .!)
9.3
8.1
8-5
!7.4
7.7
13.4
11.0
12.1
9.6
11.3
2 ,5
9.4
5.8
7.1
5.3

42.7
43 . i
43.2
45.5
47 . 2
48.0
48,5
49.7
49.9
50.4
50.3
50.7
51.1
53.3
54,7
57.4
61.4
65.4
67.4
69.6
73.9
82.7
89.0
100.0
107.6
119.5
132.5
142.7
354.5
156.8
159.1
163.6
166.9

AVERAGE
36S.2
381 .2
416.9
43R.3
450.9
474.2
5 02.4
513.0

551.5
5 82 . 8
622.1
660.6
732.0
790.9
837.)
917.4
983.5
1030.9
1127.3
1263.5
1413.3
1516,8
167S.2
1613.7
2 062.4
2367.6
2591.5
2848.6
3134.4
3212.5
3545.8
3851.8
4104.4
4288.1

CURRENT

-5,4
6,3
8.0
-4.8
12.0
3.6
-3.6
10.0
2.5
6.0
2.8
12.5
7 .0
7 .1
6,3
3.4
1.2
h ,9
13,6
13.5
7,7
13.:
11.4
6.2
14.4
7.3
17.9
1.9
6.2
32.4
4.7
6.3
2.5

371 .6
372-5
405.9
428.2
451.0
456 .8
49 5 . 8
515.3
533,8
574.6
6 06 .9
649.8
7 05.1
773.0
8!6.4
893.7
963,9
1015.5
1102 ,7
1212.8
1359.3
1472.8
1598.4

nsi.s
1990.5
2249.7
2 5 08.2
2732,0
3052.6
3166.0
3405.7
3773.2
40IO.3
4235 . 0

PERCENT
CHANCE 2
•j . 7

9 .0
5.5
5.3
1.3
8.5
3.9
3.6
7 .6
5.6
7.3
S.59 .5
5.8
9.3
8.0
5.4
8-6
io.o
12.3
8.3
8.5
11.5
53.7
13.0
11.5
8.9
11.7
3.7
7.6
10.8
6.3
5.6

C. Historical Data for Selected Series—Continued
Year

Annual

1423.1
1413.9
1457.9
149 8,5
1546.8
1521.3
1591.8
1644.9
1678.5
1755.9
18!?.7
1931,8
2004.6
3 154.3
2205.2
2308.3
2389.9
2402.8
2447.0
2537 .5
2 7 00.0
27 12.1
2664.4
2780.0
287 1 .8
2988.9
3157.7
3229 . 3
3233.6
3194.4
3228.9
3368.3
3549.2
3663.4

1955.
1956
1957 .

ms.
1959.
I960.
196!.
196 3 .
1964
1965
1967
196 8
1969.
1970
1971
1972

1973
1974
197?

1976
1977

1976
1979
1980
!981
1982
1933
19 84
19S5
1986
1987

1434.!
1408.9
1467,9
1510.3
1546.4
1527.
1609.4
1659.5
1690.4
1779,7
1841.4
1950.1
2042.5
2 163.0
2237.1
2335.5
2397.0
2396.5
2453.2
2569.6
2701.4
2717.8
2699-9
2787.9
291S.8
3074.8
3145.8
3154.8
3228.4
3185,3
3267.6
3434.8
3569,9
3676 ,7

1434.8
1423.8
1489.1
1513.5
1554.2
1548.5
1625.0
1657.6
16 99.2
1794.7
1872.3
1971.4
2073.9
2384.4
2256 .6
2362.1
2403.9
2419.7
2470.5
2589.7
2706.2
2700.4
2718.3
J8O5.O
2957.1
3109.5
3196.5
3188.6
3228.9
3)64.0
3307.4
3459.6
3628.7
3711.9

CAPITA CROSS NATIONAL PKOOCCT IN 1982 DOLLARS
(AHSOAI, RATE, !>01,LABS)
1438.1
1437.2
1499.4
1529.5
1545.1
1573.8
1624.1
1668, 0
17 37.5
1802.6
1895.4
1976.8
212S.3
3185.1
227 1.3
2373.5
2401.6
2412.7
24K9.9
2650.3
2706 .5
2653.9
2748.3
2S45.22972.4
3140.3
3208.9
3303.8
3208,5
3218.6
3338.1
3493.5
3652.5
3745.S

1432.5
1421.0
1478.6
1512.7
iSifl.i
1542.6
1612.6
1657.5
1J01.4
1783.3
1856.7
1957.6
2 06 2.4
2171.5
2242.6
2344.6
2393.1
2 4 07 .9
2465.2
2586.8
2704.!
2696.0
27 07,8
2JO4.6
2929.5
3078.4
3177.4
3194.0
3190.5
3285.5
3439.1
3600.1
3699.5

9,022
8,717
8,946
9 ,066
9,225
8,700
9,125
9,302
9,151
9.5S2
9,743
10,2 05
10,528
11,188
11.324
11,637
11,966
11.802
11,988
12,172
12,946
12,890
12,284
12,905
13,198
13,623
14,194
14,261

1953
1954
S955
1956
J95T
1958
1959
1960
1961
1962
1963
1964
1965
1966
196 7
1968
1969
1970
1971
1972
1973
1974
1975
1976
1977
1978
1979
1980
1981
19 82
1983
1984
19B5
1986

13,685
13,619
14,613
14,966
15,362

2 2 0 . NATIONAL INCOHE XV CHRE.EBT HOLLARS
("ANNUAL XAJK, BJI.LIOHS OF EOLLABS)
1953
1954
1955
!956
1957
1958
1959
1960
1961.,,..
196 2
1963.,...
1964
1965
96 6
1967
1968
196 9
1S7C
1971.....
972
1973
1974
1975
1976
1977
1978
1979

307.0
3 02.3
324.9
349. I
370.5
36 5.7
401,2
425.3
424.3
46 4 . 4
487.9
524.3
566.4
627. 1
662.7
713.0
777 . 1
818.3
872.7
956.3
1084.3
1178.5
J228.6
1403.4
1533.5
1724.4
19 86.7

98!...'/
9 82
1983
1984
985
9 86
987

2388.4
2483.1
2599.1
2962.1
3156.5
3364.2

225,
1953.
1954,
1955.
1956,
1957,
1958,
1959,
I960,
1961.
1962.
1963.
1964.
IS* 5 . .
1966..
1967..
1968.
1969.
1970.,
1971..
1972..
1973.,
1974..
1975.,
1976.,
1977.,
1978..
1979.
1980..
1981..
19 8 2 . ,
1983...
1984..
19 8 5 . .
19 8 * . .
1987..

973.4

1104.6
1190.6
5256.5
1425.6
1596.9
182 1.4
2013.2
1150.5
2415,2
2514.0
2685 .5
3009.0
31(15.4
3414.!

308.4
3 06.1
339.9
35?.4
376.7
377.3
408.S
425 .7
442.5
475.8
5 03. S
543.3
589.3
647.0
6 83.6
748,0
808.1
841 .0
905.2
1002.5
1133.3
1216.5
1315.5
H52.7
1654.8
1870,3
2 07 2. 1
2201.0
1483.I
2538.4
274i .8
3047 .3
3254.4
3438.7

DISPOSABLE PKRSONAL 1NCOKE IN CURSEHT COLLARS
(ANNUAL KATE, BILLIONS OF HOLLARS)
301 .6
314.4
346. S
364.fi
371. i
390.5
412.)
423. 1
4 54.9
48?.2
512.6
549.4
6 06.7

306.6
306.3
336.3

356.3
372.8
375.0
409.2
424.9
439.0
473.3
500.3
537.6
585.2
642.0
677.7

739.1
798.1
832.6
898.1
994.1
1122.7

1203.5
1289.1
1441.4
1617.8
1838.2
2 047.3
2203.5
2443,5
2518.1
27 19.5
3 02 8,6
3229.9
3422.0

DISPOSABLE PERSONAL itiCOKE IN 1982 DOi.LflSS
(ANNUAL BATE, BTLLTOSfS OF BOLLSKS)
870.4
885 . 9
918.2
978.3

1

3 09.5
30! .5
333,5
3 54,2
372.7
366 .4
414. 1
425 .3
434.i
470.9
496.8
533.4
578,6
6 36.4
669.3
732.4
792.0
82 9.5
890.6

1004.6
1008.3
1054.7
1087.3
1100.8
1158,4
1190.9
1253.7
1327.1
1414.3
1471.0
1530.5
1566,4
163S.0
1708,1
1750.9
1893.1
1907,2
1.873.1
1983.1
2 02 6.9
2 128.1
2216.6
2225.6
7342.9
2245.7
2288,4
2446.9
2506.8
2610.5

883.2
881.6
936,7
985 .6
1011.4
1016.3
10/1.9
1093.6
1117.7
1167.8
1198.2
12S7 ,7
1346.8
1422.3
1487.9
1554.7
1584.7
1666.2
1731.9
176? .6
19 07.6
1888.3
JC65.7
1992.8
3049.6
2162,7
2 2 06.6
21HS.7

2235.0
2260.9
2311,1
24H.fi
25SB.4
2660.2

a s i .5
895,7
952.8
990.6
1016.8
1038.1
1066.6
109 3.0
1127.4
1174,7
1210,9
1304.1
1383.2
1437 .4
1500.1
1555.1
1617.5
1686.2
1734.2
1801.5
1922.2
1898.6
! 93.5.0
2005.9
2086.9
3176.4
2213.7
220?.;
2262.9
2263.4
2335,4
2479.2
253S.2
2653,2

Annual

fear

2 1 3 . FiKAL SALES IN 1982 DOLLARS
(ANNUAL BATE, BILLIOISS OF DOLLARS)

1953
.
1954.....
1955
1956
1957
1958
1959
1960
3 961
1962
1963
1964
1965
1966
1967
1968.....
1969
1970
1971.....
1972
.
1973
1974
1975
1976
1977
1978
1979
1980.....
1981
198!
1983
1984.....
1985
1986
1987
237,

880.0
894.0
944.5
9S9.i
1012.1
102 8.8
1067.2
1091.1
H23.J
1S7O.2
1207.3
1391.0
136 5.7
143 1 .3
1493.2
1551.3
1599.8
1668. 1
17 2 8.4
1797,4
1916.3
1896.6
1931.7
2001.0
2 066.6
2167.4
2212.6
2214.3
2248.6
3261.5
2331.9
2469.8
2542.2
2645.1

1953
1954
1955

ms

1957
1958
1959
i960.
!9il
196 2
1963
1964
1965

1966
1967.
1968
1969
1970
197[
1972
1973

1974,
1975
1976
1977

1978
1979
J9S0
1981
19 82
1983
1984
J98S

251.3
258.5
269.5
290.5
308.7
318.1
337.8
354.9
364.6
389.2
407.1
436.6
46 9 . 6
5!3.7
549.0
591.3
631.5
691.1
754.5
807.3
911.0
1006.5
1080.4
1218.0
1317,9
1474.9
166 6 . 6
1857.6
2 06 5.6
2207.2
2345.7
2611 .8
2761.2
2966.n

255.7
257,9
276-0
295.1
312.6
320.3

256.4
260,4
282 .4
299. !
317.!
328.0
345. S

345.1
359.1
370.3
394.9
411.9
449.5

418. 1
456.!

478.9

49 3 . 7

519.9
557.2
6 07.5
647.0
71! .1
774.1
821.2

936.1
1032.1

360.S
376.;
398,3

530.4
566.7

614.3
667.7
726.5
784.3
845.3
959 .9
1052.8

1148.3
IJ36.fi
1359.0
1534.3
1701.5
186 9 . 8
2 09 5 . 8
2241.8
2395.4

1404.0
1573.6
1752.9
1934.1
116!.0

2642.8

2691,1

2848.4
3022,4

2847.;
3038.3

1155.7

1263.t

2278.6
2443.2

FEB. CAPITA DISPOSABLE PERSONAL INCOME IN
(AMKUA1 .RATE, DOLLARS)
5,486
5.489
5,590
5,851
5,9 01
5.827
5.991
6,051
6,02 8
6,243
6,324
6,566
6,859
T ,ltt.
7,446
7,653
7,756
8,026
8,26)
8,372
8,965
8,948
8,707
9,125
9,237
9,599
9,88.9
9,816
9,783
9,694
9.760
10,359
ie,5i3
10,842

5,546
5 ,440
5 ,679
5,671
5,918
5 ,848
6,066
6.06 4
6,097
6,272
6,343
6,722
6 ,942
7,247

7 ,49S
7.7 56
7,829
6,139
5,352
8,432
9,013
S.840
9,115
9,151
9,318
9,730
9,818
9,611
9,724
9,7 36
9,855
10,378
10,7 05
11,024

5,510
5,5152
5,751
5,874
5,923
5,94a
6,010
6,036
6, 124
6,285
6 , 3 85
6,783
7,106
7, JO!
7 ,538
7,737
7,969
8,2 08
8,337
8,571
9,059
8,866
8,947
9,18?
9,46 1
9,763
9,820
9,676
9,818
9,720
9,933
10,446
10,593
10,968

25). 1
265.6
287 ,2
3 05.5
317,5
333,2
349.8
361.1
3B3.9
402.2
426.3
462 .9
5 05.0
539.6
575.4
625.2
680.5
733.7
794.4
884.6
992.1
1072.0
1186.7
1392.5
1436.4
1622.1
17 9 6 . 3
2010.3
216?,0
2318.1
2527.9
3728.6
2906.6
3061.6

255.1
260.5
278.8
297.5
323.9
324.9
344.6
3 5 8.9
373.8
396.2
415.8
451,4
486.8
525.9
562 . I
6 09.6
656.7
715.6
776.8
839.6
949.8
1038.4
1142.8
1252.6
1379.3
1551.2
1729.3
1918.0
2ll~> .&
2261,4
2428.1
2668.6
2841.1
3011. i

-.—
T nni 1fluc

5,5 07
5,581
5,$27
5,917
5,888
6,000
6,034
5,994
6,203
6 , ! 86
6,458
6,834
7 ,199
7^70
7,766
8,009

s!338
8,871
9 , 130
8,814
9,007
9,237
9,5 06
9.849
9.790
9,7 86
9,751
9,749
10,151
10,491
10,679
10,9 56

6 ,027
6,036
6,113
6,271
6,378
6,727
7 ,03 7
7,280
7,513
7,728
7,891
8, 134
8,322
8,562
9 ,042
8,867
8,944
9,175
9,381
9,735
9,829
9,722
9 ,76

9

9,725
9,930
10,419
10,622
10,947

SCTE




103

C. Historical Data for Selected Series—Continued
iQ
345.

In53

. .

1955
1956
J9">7
1958
19 5 9
i960
i 96 i
196!
196 3
1964
1 96 5

1

;

196 7
1968
1969
(970
i9M
i972
1973
1974
i 9 75
! 97h
1978.!...
1 97 Q
1980.
198!
1982
1983
1984
1985.
1986
J987.....
345C,

7 5.5
26 . 6
57 . 4
58.9
30. 8
15.5
33,6
36.1
36.5
37 . 8
35. !
40. 7
42.0
44. !
44.7
49.9
53.2
56.9
60.8
t i .7
69,5
7 4,9
83.4
89 , 9
97 .1
105 . 4
114.9
125,9
J 39. 3
550.9
159.5
165.1
171,6
179.3

CRASiUE IK INDEX Of
4-qUARTEB
SVA8 SS

CHANCE
OVER

mi

1*82
i 983
1984
1985
1*56
1987

.....

5 6.2
26,9
58.1
39.9
3 I .*.
32.9
34,1
35.6
36 . 8

2 5,9
26^7
27.7
2 9.4
3 ! .7
32.A
33.9
35.4
36 . 6
18.0
39.3
41,0
41.4
44,9
47 . i
50.?
54.0
57, 8
f. 1.7
t.5 .*>
70.6
77.0
84.9
91.8
99,!
307.2
1!7.4
12 9 . 6
141.7
153.2
160,4
366 . 3
S?3.4
160.5

AVESAGE
(ANNUAL

6.3
2.8
4 .2
6.5
5- .'i
4.1
3.8
4 .4
3. 5
3.9
3.5
5,2
2.9
6 . 2
5 .2
7.5
6.S
7.3
6 .4
5.9
8 . 1
9.9
9. I
8 ,6
7 .6
8.4
9.5
10.8
9 . I
7.6
3.4
4.2
4.4
"3.%

I^t2
.....
1963
1964
3 96 5
1966
(967.
1968
1969
19 7 0
3971 . . . . .
397J
1973
1974
i975
.
1976
1977
1978
!979
S980
i 98 1 . .
1982
1983
1984
i985
5 <! Sh
19 8 7 .

!953
1954
1935
19 56
,
1957
'958.....
1959
1 960
196 i
1962.
.
(963
1964
1965
1966
£96 7 . . , . .
1968
1 969
!970
1971..,,,
1972
1973.
1974
1975
1976
5977., . . .
1978
1979
1980

IV Q

aa.i
19.6
4 1.6
42.9
45.5
<*').$
51 .5
55 . 0
59.0
62 . 8
66,5
75.0
79,1
86.3
93.8
100.9
109.4
1 19.8
132.7
144.9
155.9
161.3
168.3
175.5
1S1.8

27 .2
2*.4
30.4
31.9
33.2
34.4
.15 . 9
37.2
36.?
40. S
41 . 9
43.4
46. !
43.5
52.5
56.0
59.6
63.5
67 .7
73.3
81 . 2
88.0
95.5
JS2 . 8
1M.9
122.6
13 5 . 9
14 7 , 2
157 . 8
363. 1
169.7
177.6
181.6

Annual

1

1

|

4.7
3.0
4.4
7.0
=i .1
3.9
3.8
4.3
3,7
4.1
3. 7
4.5
3.6
6.1
5.3
8.2
6.7
6 .4
6.0
7,2
8.3
10, >
8.5
a.5
7,7
8.8
9.6
10.8
?• . 3
7.2
3.3
4.0
4.6
i.'i

I N INDEX OF REAL.
l- QUARTER SPAJIS 3
6,0
7 .6
2 .8
7.5
3.1
•2 . 5
3.8
7 .8
3.3
5 .2
2 .7
4.0
0. i
5.5
4. 1
7.3
0.4
-0.4
4 .4
6,2
4,5
-3.0
2.6
4,0
-0.1
3.2
0.8
-4.8
-6.7
6.6
4.0
-0,3
i.3
2,3
__...

.




HOStK T COMPELS T I O N
GATE
PERCENT)

56 . 9
27 . 9
29 . 6
31 . 4
37.6
34,11
35 . 5
36.7
56.2
39.5
41.3
42.7
45 . 1
17.6
51.2
5 4,5
58.3
62 . 1
66.i
73,3
78. !
85 . 6
9 2.8
100.0
LOS.5
118.7
131.0
143.3
154.4
361.1
167.3
174.6
IH.l

5 .4
6.7
4.1
4.5
4.7
3.)
4.3
3, 4
4. !
3.4
4.8
5 .9
6.9
6,6
6 .9
6.8
6 .4
7.4
7.8
11.3
7.9
8-t
8.4
9.0
9.5
10.7
8 ,3
5.7
3.5
4.0
4.4
2.7

-2.(1
0.6
2,4
S.2
0.4
-2 .4
-4. i
- 1.6
- 1 .6
0.7.
-2.4
-1.0
-0,3
4 .1

2.9
4,3
5 ,0
1,1
1 .5
•i.5
0,8
2.0
0.8
J . 2
1.7
5.3
3.4
2 .4
0.9
0.7
3.1
3.7
1,7
2.0
• 0.2
-0.6
-1.5
l.'i
i.8
-1.1
-4.5
2,3
-2, i
0.2
• 1.9
0.7
2.4
0.4

IQ

!

1953,
1954.
1955.
1956 ,
iqyt ,
1958.
1559.
1960.
196 1 .
i"62 .
1S63.
1(64.
1965.
H66-.
1967.
JS68.
1969.
11 7 0 .
397 1 ,
f972 .
! 17 t .
1974.
H75.
1176 . .

,

c

3.5
3.4
7.6
6 .';
2,3
4.5
8.2
4.2
6.8
4,0
5,7
1.3
6.4
5 .5
12,1
5 .4
6.3
8.0
30.0
i I .0
9 . 0
11,4

s.s
7 .5
30.4
il.2

1178.
1979..

mi.

1 0 , ft
10,5
4 .4
4.9
4.7
3.9

1982 ,
1983 .
J984,
1985,.
ISSt..
1987..

AVERAGE
(ANNUAL

IV Q

1)1 Q

1 »Q

CffANCE IN INDEX 0?
i-QUARTER SPAN S

AVEBAK E

HOI Rl ¥ COMPBKSATION
PERCENT;
KATE

Annual

OVES?

PERCENT
ORANGE1
—

6 . 1
1 . 7
4.3
7 .5
4.4
3.9
3.6
3.0
4.3
2.is
1.3
3.6
i.2
7,4
5.4
6.8
6 . 3
6.4
6.4
5-5
6. 3
! 1 ,6
7,5
ft. <
7.8
6.9
8.9
lL . J
6.0
2 .2
3.0
4.3
5.S

—~.

—-.....

4.1
4.0
3 .7
3.7
4.6
5 ,2
2.5
5 , !
4.7
5.3
8,5
8.0
4 .5

5 , 7
3.4
3.8
6 , 3
5 .8
4.0
4.1
4.4
3.4
4,1
3.4
4.6
3.3
5.8
5.4
7 .5
6.6
6.9

5.7
8.2
11.4
7.0

7 .6
1 , 7
10.7
8. 3

6.5
7 .9
9 .4
9.7

7.5
8.3
8.3

1 -"b
1 .9
9.;
9.8

3 . 2
5,3
6.6
5. i
5.3
2,9
2. 2
2.4
J .3
4. 1
6 .2
4.6
6.0
5 .2
6.0
7 .2
8.5

10,1
9 .2
7.4
2 . 1
4.3
4.8
2.9

3.6
6 . ?

7.8
8.5
9,4
10.4
9 .4
7.8
4 . 3
3.8
4 .4
3.8

9 .8
6 . 6
5.0
3 ,9
4 .8
4.0
.

OVER
AVKKAOK
3 .2
3.6
6.2
5 .9
4.0
4.4
4.5
3.5
1 . 9
3.0
4.7
3.3
5,9
5 . 4
7.3
6.5
•/ .a
6 .8
6 .5
7.6
9.1
10.3
8.2
7 .9
8.1
9.5
10.4
9.4
4.7
3. ;
4.3
4, 1
2 .8

AVERAGE !IGl!SLV COMPENSATION
fANNUAL SfiTK, PERCENT!
4.4
2 .3
4.9
4.8
0.9
1 .2
2.9
0,5
4.5
1 , 1
0.5
3.0
0,6
3.6
3. 1
2 .7
0.0
0. 7
2.5
3. 1

..__

4.3
3.0

Year
345 C.

1

1953
3954
1955
19 5 6 . . . , .
1«57
,
1958
19 5 9
i960
196 1

34fsC,

III Q

i_HQ

OF AVERAGE HOURLY COMPENSATION, A L L EMPLOYEES ,
FARM Bl SiSiESS SECTOS
(1977-J00

IKB6X

2 . 1
5 . 0
3.3
2.6
5 .9
3. 7
1.6
0.6
3.1
4,0
0.6
2.9
t ,1
1 .3
3,0
! .9
- S.2
-0. I
3.4
-2.3
-5.0
0.4
1.5
1.8
O.O
~2.S
-1.8
0.(1
3,7
0. 7
0.6
0.8
1 .3

4 .6
3, 1
5 .0
6,5
4.7
4.2
4.2
3,8
3.8
3.6
4.0
4. 1
4.3
5 .9
6,2
7,2
6.8
6.8
6 .1
7.0
5.4
10.6
8.4
ft.3
8.0
8.9
9.8
10.4
6.3
3.5
4. i
4 .4
3.1

PERCENT
CHANGE 1
4.9
2,9
4. I
4.7
2 .3
1 .2
i.3
1 ,8
2,3
2 ,9
5 , 1
3.3
1 .6
1.8
5 .5
3.2
1.2
0.9
J.I
3.1
1.6
- ! .4
0.5
1,4
1.2
0.8
-i.7
- J .8
-0.9
t .5
I , 1
-0.4
0.8
! .8

3 4 6 . S-fi&ES O f REAt AVEfAGE HOURLY COMPENSATION,
EMPLOYEES, NO5FA RM B1SSIKES3 SECT OS s
( I97?*!0
1953,
5954. .
195 5 . ,
1956..
1957..
1958..
195 9 . .
! 96 0 . .
196i,,
196 2 . .
196 3 . .
196 4 . .
1965..
196ft , .
1967,,
1968..
19(i9 , .
1970..
19? 1 , .
19J2..
1973..
1974..
1975..
5 97 6 . .
1917..
19(8, .
1919.,
1980..

i

19S 3 . .
3982, .
!9S3,.
19S4..
19S5 .
1986..
3987. .
346C.

j

58,1
59,9
62,0
65.2
67.3
67.7
70.!
75.4
73,6
76. 1
77.7
79.6
SI , 4
81,3
85 , 1
88.4
89 , 9
90.5
92 ,2
94.8
97.6
96.0
96. i
97.4
99.6
101.4
100.6
96 .5

58. /
60.2
62.8
66 , 0
67.4
67.9
70.6
72,5
74,4
76 . 3
77.8
80.2
81.5
K4. . 1
86.4
89.0
89.9
90.6
95 , «
95.5
97.4
96 . 1
96.7
98,7
99.7
100,7
99 . 6
96. 1

59.2
60.8
63.5
66 . 3
67. 7
68.8
70.8
72.9
H , i
76.5
78. i
81.3
82.2
34.6
86.6
89. 1
90 2
91.5
93.4
96.0
97.3
96,0
96 , 4
99.5
100,1
100.5
98.5
96.6

96 , 0
96.7
98.6
97.6
9ft n
99 . 3

96.?
98,0
97 ,l>
97.G
100, 5

95.1
96 , 8
97.5
97,6
9 8 ,5
100.4

CHANGE IB IHilEX OF REAL AVSRAGE
QVF.E 4-QU45TSK S!M S "U«SMl
5.6
2,8
4 .4
4.4
2 .0
1.7
2.8
3.9
2.1
? 6

!953..
1954. .
1955.,
11 U> . .
19 57 , ,
1958..
1 9 59 , .
i960..
I9fe\
1963..
1964. ,
!96S, .
S9b&. .
1967. .
1968..
1969, .
i970. .
1971 . , . : :
5972, ,
S973,.
1974..
1975. .
1976 . .
1977. .
1978..
1979..
1980..
1981..
398!..
1983..
1 9 81.
1981..
1986..
198?..

5.1
4. 1
1 .!
3.9
2.4
3.0
1, 1
1 .5
2.3
2.8
1 .4
••1.4
0.4
2.9
0,9
0.4
-2 , 0
• 1 .8
•1.6
3 .7
0.8
S.O
1

1.9

3.9
3.5
4 . 0
2. 1
3 .9
2 . 3
2 .7
2 .9
5 . 7
2 .7
3.2
1.8
2 . 3
3 .4
0.9
0.7
2.4
3.6
-0. 1
-1.3
1.0
3.2
1.0
-0.1
-5.8
~ i '. 1
2,6
0. 1
0.0
L.I
2.0

ALL

5 8.9
60,6
63.1
66.1
67 . 6
68.4
70.7
7 2.-6
74.3
76.4
78.0
80.6
81 . 9
84.2
86 . 3
89.1
9 0 . '/
90,9
92.9
95.8
97.3
95.9
96.4
93.B
300,0
f GO. 8
99.1

61 . 6
64.0
66.5
68.5
69.5
7 S 1
73.0
T°i.\
77 . 1
78,9
81.4
82 . 8
84.9
86,9
89.8
9 0,6
91 . 2
93.4
96.8
96.7
95.5
96.5
99.6
3 00.6
1 00 T 5
97.7
16.2

95.5
97 . 0
98.0
97,6

95.1
97.6
97.7
97 . 7

100. 1

i 00. 7
'

POURLY

'

""

~

COMPENSATSOD
AVERAGE

3.0
3.6
5 , 2
1.2
0, 7
3.5
3.2
t .6
3.4
2 . J
2.5
2.2
2 .4
5 , 8
3. j
1 .7
0.7
] -9
2.8
3.2
-1.9
0.1
1.4
2.2
1.8
-0.7
• 4.1
-H .5.
0,7
2 .0
-1.0
0.4
1.1
0.5

2 . 5
4,2
5 . 1
2 .2
0.8
4,0
2 .6
2 .6
2 .5
5 , 0
3 , 2
1 .6
3 . !
2.7
3.0
I . 0
0.8
2 .4
2 . 9
] .9
- [ . 3
0,6
2. 1
1 .0
1 . 1
- 1 . I
-3.5
- 0 .5
1- 1
1 . 3
-9.6
0.6
1 ,<f
-1.0

3.S
3.5
4 . 7
3. 5
! ,4
2.S
2 . 7
2 .4
2 .8
2 . 4
5,5
2.8
2, 1
2.7
2 .7
2.3
0,9
i.6
2 .6
2.9
-0,5
-0.5
l.l
2 ,3
1.2
-0.4
-3.1
-i . S
-0.2
1 .9
-0,2
0.5
1 .4
0,8

~~

C. Historical Data for Selected Series—Continued

INDEX

35S.

OP OSITC! 1
BiiS 1NSSE

1953. , . .

PER HOHK,
SECTOR

1960. . - 1961
1962 . . . .
1963

1970
I97 I . . . .
!-)72 , . . .
197 3 . . . .
1974
3 97 5
1977.,-,
3 978. . . .
19 8 0 . . , 19 8 1 . . . , ,
1962
: 9 8 1 , . . .
1984

'

70.3
7 1.0
74.7
76. 7
79.2

7 0 . 2
7 1 .0
J
3.2

82.0
8 4.8
S5.3
88.2
89.7
SS.8

98.8

98 . 4
99.4
98 , 8
99.7

99 . 3

100, !

99 . 3
99.2

i9 79
19R0", . .
1981..,.
1987.
19S3. . . .
1984.,..

99. 8
101,9
1 05 . 1

S9SS
1986 . . . .
I9S7

! Oft , 5
109.5

10'i.7

107. 5

i 02 . 7
304 . 7

OUTPUT

i 03, 3
104 , 8
iO5 . 9
107 . 5

1

FES HOI

RATE,

OVER

1 - O O A R T E S

1955
1956
5957

3.4
2.S
2.6

0.8

1958
!959,,,.

i -6
3.3
8.3

2.9
0.6
1.4
3 . 8

196 2
1 9 6 3'.'..
1965
1966

(970
1971
1972
5573....
1974 ... ,
1975....

7.5
4. 1

1.3

1 . 7

0.4

1 . 1
0,5
4.4
-2 . 7

1,0
7.0
-Q.8

. 3

•-2.8

4 .5

_-l

- 2 .7
-0.7

! . »

S.3
J. 1
-0.7
o. o
0,3
-3.4
0.6
-2.2
2 .0

C

5. i

-5.5
3.0
7 .8

3. 7
-0.3

I

.

•;

-1.0
-0.1

1 .6
3.0
1 . 1
2 .6
1.0
3.3
1.7
3.5
3 6
4.0
4.3
3. 0
2.S
2.7
2,7
o. r
0.7
3,2
3.0
2.0
-2. 1
1 . ft
2.S
5. 7
0,8

GOVERNMENT

\

1 . -,
!

51,2
48.6
56.8
7 1.3
73.3
77.8
78.8
75.6
TS.l
7 8.0
79. [
87.7
91.4
98. !
1S4.S
! 13 . 9
1 "i 5 . 9
15 7 . 2
1 S3 . 2
2fiS.5




F

PURCHASES

(ANNUAL

44 . !
'il,,9

196 ! . . . .
f Q6 2 . . .

OH/lNGE

68.4
91.3
94.1

95 , '$
93.4
95 . 8
98.5
101.:
101.0

98.6
100.3
10] .2
98.7

99.3
103.3

1 00 . 2
i 01 . 5
05 . 6
107.7

S00.1
103.0
105 . 5

99.9
101.0
i 03 . 8
105 .9

108.2
£09.6

107.9
109.6

99 . 8

L09.7

RATF

'5.4
78.7
81,0

95.9
93,9
95,7
98.3
100. D
100.8
99.6
99.3
S0O.7
100. 3
103.0
I 05 , *
107 . 5
109 . 5

HOUR

OVEE

3.7

4.2

1 .7

2,3

1955 . . , .

2.4
1 . 0
2.8
5.6

1 .7
2.8
1.8
4 .8

7 , i
1.8
4,7
1.6

1.1
1. 0
6.0
J. il
1. 7
4.0
3.6
1.4

1956
1957
1958..,,
^959
I960....
196 i . . . .
1962 . . . .
196 3 . . . .
196 4

4. 1
2.9
2 . 1

1965...,
S96 6
3967 . . . .

3. 3
2 .4

196S

-6.1,
2 . 0
2.6

1970. . . .
19M
S972

!.5
1 .2

1973
19 7 4

• 1,9
3 .6

1975..,.

5982 , . . .
19S3.
. . .
1984 . , . ,

I,?,
2.7
-0.2
• 1 . 7

0.0
2 ,0
- i .0
2.7
2.5
.

s

2

.

5

1.3

3

4.-13UAKTF E SPANS

AVSSAC.E

PF.KCENT)

!953, . , .
3954, , . .

39S5
19S6

89 . 4
91.5
96.1
95.8
91.3
96.8

89.6
91.9
94.2

00.8

OUTPUT P ;K

iH

197&
1977. . . .
S97R..,.
19 7 9 . . , .
19S0. . . .
1981

5.8
1.9

85.5
87 . 8
87 , 8

99.9

S

(ASKIJAI.

-0.4
2. 7
2.5

83.2

86.5
85.0
8S.0

66.5
6? . 6
70.0
72.5

' 1

3 7 0C .

- ' 7
-0.3
i.4

83.5

8S.2
87.9

6 0.1
60.9
62 .'i
6 4.4

t-5
4.4
1.1
2.8
1.5

0.5
3.0

5.2
Z.6
0.1

4.6

4.9
3 .6
5,3
2.4
3.8
i.O
3.7

3.6
1.8
-0. i
1 ,6
2 .4
5.0

0.7

2 .7

0,5
-0,2
4.5
1.3

4 . 3

2 . 3

3.7
4 . 5

4 , I
2 .7
1.3
2. 9
Z.8
0,0
0. 1
3.4
3.2

5.1
-2.6
-0.8
4 . 5
1 , 4
0.8

3 . £
1 .9
i.7
O.S
-3,4
1.0
0. 1

5 . 1
- j .3
1 .7
7 . 7

0,5
-1.2
i .5
-1.1

-0.3
-2.6

-1,3
-1.2
2.0
-0.6

J. 5
3. 1
1.3
2.8
0.2

1 . 1
2.7
2 . J
1.9
5 .5

S .2
1 .7

3.1
2. 1
1.5
2 .3
0.4

2 .5
3.2
1 .3
2 . 4
1.0
4 ,6
j.a
1.6
4 ,6
3. 7
4. 3
3.3
3.4
J.9
3.4
1.2
-0. !
7 .4
3,7
• 0.9
-0.9
l.h
1.6
1.7
0.0
-1.6
1.1
0.1
] .4
2.6
f.S
2 .4
0.8

1937

45

1 9S3. . .

-3

2.9
0.6

-H.8
39, 1
3S . 8

1959...!
I960. , -

J 9 S 2 . . .

-4.9
-1.8
8 . 7

•

- > 7

0.2
- 1 .6
- 9.4

49,5

1955
1956 . . . .
195 7 . . .

1979. . .
1980. . .
1981.. .

8.0
4.5
1.5

i.5
6. 1
2.1

DEFEUSS

.

2.0
-0.6
0.6

) .7

2 .7.
5.6

{

1953. , . .
195 4 . , . .

1976. . .
1977.. .
[978...

1.7

3.6

j

FEOEHAE,

19 7 3 , ,
1974...
!975

5 . 6

3.0
-1.2
6.6

i

1.6
4.4
0.6

4.6

'i , 9
5 . 3

NATEONAI

196 7 . . .
1**8....
1969...
1970...
1971..,
(972

5 .9

4.7

•2.3
2.8
4.8
-0. 1

19 85
S986. . . . .
1987 . . . . -

6.9
4. 3
2 . !

2 .1

1 . 8

5.1
3. i
-0.7

I 9 S ; . . . .
1983.,..
1984. . . ,

4.8
1 .7

. 8

1.1
• 0.3

0

\ 979, , . .
19SS0
1981 . . .

1964. , ,
1965
5966...

-3

0,7

• 5 . !

[

7.8
7,ft

i.3
3.4

1,1
-3,7
3 0.9

4. 1

1977
LS78

564.

) . 3

1 .8
) .9

1 96 7 . . . .
196S....
i969 . . . .

-0.4
7.3

0,2

"2.9
-3.5
8. 3
3 . 7

. . . .

2.0
4,2

6.5

2.6
9, 1
2.8
3,6

1964

105.S
107 .5

Wiser
2,3

4. 2
0. 7

1 0.' . 4
104.6

7.1.7
76.0
79.4

81.5
83.4
86.5

9S.3
9 9.5
10) .?

9S.0
99.4

1978

fERLENT

SPANS

F^BCITNT!
6,6
1.4

i960
1961 . . . .

94 , 5
93.8

61.8
61 . 9
65.9
66.9
65,5
71.6

71.0
76.0
7 9,1

8 7.9
9S.9
9 3.8
9 5 ij
94^ 1
9 5.7

91.1
92.3
9 7 /]

iQO.l
100.6
99 . 4
i00.9

6.0
-i-.b

. 1
1951...
19 54 . . . .

1970
S 97 1 . . . .
3972
if! 3 . . . .
1974,...
I975 . . . .

66.J
67 . 3
7 0.4

85 . 4
87. S
87.8

86.9
87.'.
87.?

57 . 5
5S.4

5K. 1
59 . 4
6 0.1

60,S
62.5
64. 1

78,2
SO,4
S'.< . 0

81.9

1976
1977,,..

j o; - J

IN

1967
S96K
1969

AVESAGS-;
57.8
58,8
60, 2

7 i . 9
7^.1

80.0
33. !

$8.->
10 0 . 0
iOO.B

99.1
102.9
104 . 6
!06 . 4

{ AKKIJAi.

<H . 1
94.;
96 . *
94. J
9 6 , li

1964
1965
1966

Annual

B I! S I BBSS

1977*SGO)

67.6
70. 0

68,2
71.6
It.l
78,1

98. 5
100,0
I 0 ! . S

305.2

CHANCE

S7 . 1
£9.4
8 0, 9
C.9.3

63.2
66,5
68.1

93. 8
101,!
!0S . 0

J O ? . ;

3 7 01, .

95 , 8
93.6
96.8

(13.4
S i .2

5958.,..
1959
I960
1961 . . . .
1962
196 3

IV Q

PERSONS,

60.3
60.6
6 2 . i
61,8
66 . 7

60,6
6 ; , ;

99.9
99,?

100.3
98.5
100.9
1 04 . 1

1985...,
£986 . . . .
39J17 . . . .

89.9
92 , 0
96 . 4

92 . 1
94.9
96.0
9 3.?
97.3

78,3
8 ! . 4

3 956 , , - 1957 . . . .

ALL

57 . 5
57.9

56 , 5
57.4

98.6
99 ,15
101 . 1
J9.5

100.'.
in u

[ 9 '9 . . , .

1954..-.
! 955 . . . .

85.3
87.8
89.S
88.9
90.4

96 . 3
94.5
96 . 0

97,9
99 . 3
100.2

1976 . . . .

63.0
6a . K
65.2
66 .5
6S.0

82 . I>
8-j.I

89 . 6
89.1
8R.B
91.7
94.4

91 . 7
93.3
9 7.!
95 .5
94.0

63.7
64,5
65. I
66 , 9
69.6

75.S
78.9

81 . 7
81. 5
85 . 0
86,9

85 .2
85. 1
BS. 7
89.5
87,9

S967. . . .
1968. . . .
L969 . , . .

1953

7 0. g
73,6

(

SECTOR

6J.1

6S-3
69.7

H01JK,

OF OUTPUT PF.8

iSVESAf.t
6 ) .5

65.1
65 . 3
66 . 6

73.0
74.9
7 8.1

IN BEX

i IQ

II Q

i Q

370.

NONFARW

62.4
63.4

67, 7
70.9
70.9

80.7
Si. J

1 96 4 . . . .
1965.,..
[965 . . . .

Year

Annual

IV Q

ALL
PERSONS
i<t?7=ioe>

62.5
64,9
65,2
66 . 2

66. 1
66 . 6
70.1
7 1 ,2
71.8
7 5,2
77.5

I9SS
1959. , . .

mQ

62,0

6 1.4
62 . 3
64.5
64,8

1954
1955 . . . .
19 56
1957 . . . .

r

«Q

IQ

Year

RATS,

B

i.OODS

1.L108S

AtJD
OF

SERVICES,

DOLLARS!

5 6 5.

49 . 9
42.4

4R.7
4 0.3

47 , 9
3?.9

41.0
41 . i ,

38,6

39. 7
40.8

3 8 . 'i
42.4

39 . 0
40. 7

46,6
46. 3
45 . 6
4 7 .8
5 2.3
5 3.4

•* 7 . ?

40.9
46 I
46.3
44,6
1') . 6
5

2 . 3

5 0 , 9
*<?

. 71

60,1
72.4
7 3.4
7S.2
76 . 0
7.S.S
7S.6
77 ,15
ft2 . 0
SB. 3
92. 3
iS0.7
10? . 8
US.4
139.3
U4.6
100.3
2 13.3

SATSONAL

k<.';Af.(, S
1953
19 5 4 , . . .
!955 . . , .
1956
19 5 7 , . . ,

B E F 5 K S J . P I RCHASES
(PER r F N T )

5 959

13.0
10,8
9 . 7
9 .5
9 .9
10.1

9.0
9. 1
£.6

8.9
9 . 0
8 .4

7.9
7.2

7.7
7 .2

7.9

tf,1!

9.0
9.0
8, 2
7 .5
ij.7

9.!
8.8
S.2
7 .4

46 . J
',0.4
' : ' ^

5? . 5

i960....
196[. . , ,
i '16 . ' . . , .
196 3

50.3
50."?
64.4
74.5
79. 1
79.9

49.4
54.7

5 0.4
01 . 0
f.? . fi

S964

S, 0

66. 8

196 5
1966

7. I
7 . 5

7 5.5
;o. s
19.9

.' 3 . i
79 , t
rti. a

76.1
72.9
U . l

76 . 7
74,0
7 6. J
7 S. 5

1 5 . 8
82 . 3
S9.9

86,5
92 , 5
96,2

/*>.

8

7 ' . .

1

197:

'7.5
82.6
89 . 6

1973..,,
1974. . . .

12? .9
143.0
168.4

It . 4
100,9
108,9
113.9
SdJ-7
H7.5

197.3
?!4 . 1

2 05 . 4
27 i . 5

19 3 . 8
? M .4

8.9
9.1
S.3

. . . .

? I . it

103 . 0
m . 4
1.10.3
£52 .5
1 ?9 . 7

93,8
S0I.7

no.3

I9t>; . . , . - |

19 7 5 , . . ,
iV7h,,..
5977
197 8
1979.,.
3 9 80
19S1
1 °B? , . . .
f 0 * 3 . . . .

I

7.9
7.0
6 .7

C^P
AV ERA0 E

13.3
1 i.5
9.6
1 .6
9 .9
10.3
9.3
8,7

9. !
9 . 2
fl . 7

, , ' ,

1f 6 • ? . . , .
! 9 i 0 , . . ..
597]

A P E R t li S TO f

13,4
12 . 2
9.9
9 .7.
9 .$
1 G. 2
9 ,7
8.7

it ,4
',•• . I
lii . 9

3 1 'i I1

AS

8.8

6 ,6

6.5
6.2

5 ,9
5.5
5 . S

5 .£
5.6
5.6

5. 5
5 .6
5 .5

>r 3
3.2
4 .9
4.8

5 .2
5 . 1
4.8
4,8

5-i
5.3
5.9
6 .4

1 3.0

13.?

10.2
9 .7
9.7

11.2
9.6
9.5
9 . 9
10.1
9,4
8 ,8

i 0 . 0
10.0
1. i
9.0
9.0
8.9

9.0
9 , 1
8 , 5

7.5
7,5
a. 4
9.0
8.7

il.O

8.1
7 .4
6.6
6. 1

7,8
7.3
9.0
8.9
8.2
7.6
6 .7
6.4

5.2

5.6
5.7
5.5
5,2

5 7
5.6
5.6
5,1

5.0
4.S
4.8

5.0
4.8
5.0

5 . !
4.8

5.2
5 .5

5.2
5,4

6,0
I, . '!

6.2
6.2
4.1

S.4
5.8
6.4

5 , ^
6.7

6,2
6.3
6.5
6.5

4.9
5.2
5 .5
6.1
6.3
6,2
6.5
6.6

15
0

G. Experimental Data and Analyses

111 mmmiimuiuimmimi III

f o r e i g n currency per U.S. d o l l a r
Year
and
month

i

i

i

United
Kingdom

France

Japan
Germany
(D. mark)

(Franc)

(Pound)

199.89
184.8b
178.69
175.09
167.03
167.54
158.61
154.18
164.73
156.47
162.85
162.05

2.4384
2,3317
2.2752
2.?732
2.2277
?.?337
2.1517
2.0621
2.0G54
2.0243
1.98P0

7.4821
7.1575
6.9964
7.2060
7,0967
7.1208
6.9323
6,7215
6.6835
6.5628
6.6206
6.6?%

0.7020
0,6994
0.6815
0.6673
0.6574
0.6629
0,6635
0.6729
0.6304
0.7011
0.7023
0.6943

154.83
153.41
151.43
143.00
140.48
144.55
150.29
147.33
143.29
2
144.38

1.8596
1.8239
1.8355
1.8125
1.7881
1.8189
1.8482
1.8553
1.8134
*1.8165

6.2QO7
6.0760
6.1091
6.0332
5.9748
6.0739
6.1530
6.1934
6.0555
2
6.0565

i

i

i

\\\ 111 111 III
Ratio scale

i

\J~
\s

300

Japan (yen)

0.6643
0,6545
0.6280
0.6135
0.6000
0.6139
0.6215
0.6252
0.6081
"0.6068

(Yen)

\

1986
Jan,...
Feb....
Mar....
Apr
Hay....
June,..
July...
Aug. . . .
Sept...
Oct....
Nov....
Dec

i

Foreign currency per U.S. dollar—

A

\

\

280

r

220

^

K

180

E
E

West Germany (d, mark)

L

y

A

f

\

V
V

\

140
3.2
2.8

\

2.4

E
E

2.0

1987
Jan....
Feb....
Mar....
Apr....
Hay....
June...
July...
ftug
Sept...
Oct....
Nov,...
Dec....

Italy

Canada

Exchange value
of the U.S.
dollar5

(Lira)

(Dollar)

(March 1973-100)

do!lar

1,663.14
1,538.21
1,548.43
1,559.45
l,5?8.5O
1,533.10
1,478.31
1,420.33
1,410.23
1,387.67
1,401.03
1,379.44

* . '1070
1 .4043
.4009
.3879
i .3757
i .3899
i .3808
i ,3885
.3872
i .3885
i .3863
1 .3801

J

J

1,31/.'?
1,297.74
1,305.90
1,292.96
1,290.80
1,316.50
1,337.96
1,344.18
1,310.86
2
1,311.37

1 .3605
.3340
; .3194
.3183
.3411
.3387
.3262
1.3256
.3154
.3074

101.13
99.46
98.99
97.09
96.05
97.78
99.36
99.43
97.23
"97.35

r

V

;

i

\

fiii

\

J\

\s

IE

J
A

0.5

1

2000
1800

\

/

y

1800

\

f

>
\
_

1400

M
It!)

1200
1000

-,_ -

Canada (dollar)
V—

1.4

m

f

~^

s/

\

m
X

A
/

HI in III Ml III HI III HI III HI III III III III
71 71 77 7t 71 60 I 12 13 M
I

H

N




14Q
120
ISO

n

'This Index is the weighted-average exchange value of the U.S. dollar against the currencies of the other G-10 countries
plus Switzerland. Heights are the 1972-76 global trade of each of the 10 countries. For a description of this index, see
the August 1978 FEDERAL ZFSEnVE BULLETIN (p. 700).
^Average for October 1 through 23,
Source: Board of Governors of the Federal Reserve System.

1.2
1.0
180

ixcha nge v alue )f the U.S. dolla
(md ex: March 1973 = 10 3)

71

0.7

-v

1/

/—

S
0.9
0.8

0.6

r

106.58
107.90
106.54

8
7
8

J

Ita ¥ (lira)

107.15

Dec....

10
8
Cu

f

A-

123.65
118.77
116.05
115.67
113.27
113.77
110.38
107.50

•

ff

umieu fungoom s,pounu;

1987
Jan....
Feb
Har. . . .
Apr,...
Hay....
June...
July.,.
Aug....
Sept...
Oct....
Nov....

t

j
/*

/I

1

1986
Jan....
Feb
Mar....
Apr....
May..,.
June...
July...
Aug....
Sept...
Oct
Nov....
Dec

\
if \
V

France (franc)

\
Foreign currency per u.S

Year
and
month

1.6

80

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

June
July

title

Sept.
1987

Aug.
1987

July
1987

June
1987

July

to

to
Aug

1987

Series

(and unit of measure)

1987

Aug.
to

Sept.
1987

LEADING INDICATORS
1 . Average weekly hours of production or non-

supervisory workers, manufacturing (hours), .
claims f o r unemployment insurance, State programs1 ( t t o u s . ) . . .
Mfrs.' new orders in 1982 d o l l a r s , consumer
goods and materials industries ( b i l . d o l - ) - Vendor performance, percent of companies
receiving slower deliveries (percent)
Contracts and orders f o r plant and equipment
in 1982 dollars { b i l . d o l . }
. . .
New private housing units authorized by
local building permits (index: 1967=100). . .
Change in inventories on hand and on order in
1982 d o ! . , smoothed2 {ann. rate, b i 1 . d o l . ) .
Change in sensitive materials prices,
smoothed2 (percent) . . . . . .
Stock prices, 500 common stocks
(index: 1941-43=10)
Money supply M in 1982 dollars
2
(bil. dol.)
Change in business and consumer credit
outstanding (ann. rate, percent)
Composite index of leading indicators 3
(index: 1967-100)

.

41 .0

41.0

41 .0

p40.4

0,00

0 . 00

.

327

327

297

2 86

0.00

0 . 29

0.14

•

85.3 8

r84.02

r83.64

p85 .31

-0.09

- 0 . 02

0.13

57

62

60

69

0.22

- 0 . 09

0.48

.

r38.59

r40 .74

i:38.33

p38.04

0.13

- 0 . 14

.

121.0

11 8.6

119.8

119.8

-0.06

0 . 03

0.00

.

r37.86

r36.26

?27.01

NA

-0.04

- 0 . 24

SA

r l .56

1.98

ri.84

1.61

0.18

- 0 . 06

-0.12
-0.27

-0.60

5. Average weekly i n i t i a l
8.
32.
20.
29.
36.
99.
19.
106.
111.
910.

-0.02

301.38

310.09

329.36

318.66

0.19

0 . 41

r2,414.6

r2,414.3

r2,415.1

p2,421.6

0.00

0 . 01

r5.8

t0.5

p4.8

HA

-0.30

0 . 24

190.8

t l 9 1 .5

192.6

p!92.5

0.37

a. 57

-0.05

101,818

r!02,126

rlO2,278

pI02,41O

0.25

0 . 12

0.14

2,671.4

r2,684.6

r 2 , 6 9 I .0

p2,698.I

0.25

0 . 12

0.17

rl29.1

ri30.6

r!31 . 0

pU1.2

0.32

0 . 09

0.05

430,617

r432,550

p432,842

HA

0.10

0 . 01

tl67.9

rl69.i

rl«9.4

pl69.7

0.71

0 . 18

0.18

14.8

14.0

14.3

14.2

0.40

- 0 . 15

0.07

1.53

1.52

pi.52

XA

-0.13

0 . 00

r98.4

r97.4

r97.9

P98.7

-0.37

0 . 18

0.43

8.25

8.25

8.25

8.70

0.00

0 . 00

0.46

r344,669

r339,634

r337,432

P338.794

-0.39

- 0 . 17

0.16

15.82

rl5.82

P15.85

HA

0.00

0 . 12

NA

r!41.9

r U l .3

ri41.2

pl42.9

-0.42
— _ _

- 0 . 07

1.20

0.11
HA

ROUGHLY COINCIDENT INDICATORS
4 1 . Employees on nonagricultural
51.
47.
57.
920.

payrolls
(thous.)
Persona] income less transfer payments in
19S2 dollars (ann. r a t e , b i l . d o l . )
Industrial production
(index: 1977=100)
Manufacturing and trade sales in 1982
dollars ( m i l . d o l . )
Composite index of roughly coincident
indicators 3 (index: 1967-100"!

8A

LAGGING INDICATORS
9 1 . Average duration of unemployment'
77.
62.
109.
101.
95.
930.

(weeks) . .
Ratio, manufacturing and trade inventories
to sales in 1982 dollars ( r a t i o )
Labor cost per unit of output, manufacturing-actual data as a percent of trend (percent) . .
Average prime rate charged by banks
(percent)
. .
Commercial and industrial loans outstanding
in 1982 dollars (mil. d o l . )
Ratio, consumer installment credit
outstanding to personal income (percent). . . .
Composite index of lagging indicators 3
(index: 1967=100)

NA

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 BUSINESS COfWITIONS DIGEST (pp. 108-109) or
the 2984 HANDBOOK OP CYCLICAL INDICATORS (pp. 67-68) for the weights and standardization factors. NA, not available, p, preliminary, r, revised, e, estimated.
Hhis series is inverted in computing the composite index; i.e., a decrease in this series is considered an upward movement.
2
This series is a weighted 4-term moving average (with weights 1,2,2,1) placed on the terminal month of the span.
3
Figures in the net contribution columns are percent changes in the index. The percent change is equal (except for rounding
differences) to the sum of the individual components' contributions plus the trend adjustment factor. The trend adjustment factor
for the leading index is 0.139; for the coincident index, -0J75; for the lagging index, 0.018.




107

G. Experimental Data and Analyses—Continued
Cyclical Comparisons; Current and Selected Historical Patterns
Tmi|llMl|I3UI|HtlJ|!jtlljMH[|nt!l|UntJJMTT|M

43. Unemployment rate, total (inverted)

Deviaboits

43. Unemployment rate, total (inverted)
SERIES

specific
iroughs

43

PKSCEHT

Aciua

• 6

• 7

• 10

4-1

+2

SERIES
PERCENT

Capacity utilization fate, manufacturing

Capacity utilization rate, manufacture

79.5
79,6

50
5 1
52

10/86
1 W86

8 0,2
79.6
80.0

t,c,u

]2/Sft
1/87
2/87

80.3

3/8?

80.2
50.4
80.8
55.5

4/S7
5/87
6/87
7/87

81.6
BJ,5

8/87

• 80

5?
58
T

r

: MONTHS I

1!KV I - I

I

T

FRnis)
12/8J!
SERIES

82

10/86
1 1/R6
12 / 8 6
1/87
2/87
3/87
4/87

I ] .6
12.0
\2 .:;
12.2




P0.3
HP.2

12.4
12.8
13."i
13.6

gt) . *
BO.8
81.5
81 -ft

5/8?
fi/87
7/R7

S i .'>

Moulds fs"orn reference iroughs

• 75

ACTUAL
BATA

II. 1 )
! 1 .6
12 .2

0 + 6 + 12 + 19 + 24+30 + 36 + 42 + 48 + 54

i

FROMIATIONSICURRBNTSMOSITHI

j SPEC.
ITROUCH!

65

• 85

9/87

• 65

D +6 +12+18+244-50+36+42+48+54
.

MontJts (rom specific troughs

G. Experimental Data and Analyses—Continued
Cyclical Comparisons: Current and Selected Historical Patterns—Continued
jQRTRS.
DEVI,
FROMJATIOKS
j
REF.i
FROM

TROUGH: m

Actual

iNP in 1982 dollars

/si

c,c,c

SERIES
ANN. KATE
BIS.. DOL.
t I .8
3650.9
13
H

13.1
13.5

3698.8
3 7 04.7

id

U.3

3731 .5

n.5
16.3
17.4

3 7 7 2 .2
3795.3
•5831 .2

for
cycie

XV/86

17
18
19

(fcm
travghs

1

1/87
11/87
I H /8?

u

n.s

1/86
11/86

j n s . e i n /B6

• 3,900

• 5,800

DEVT-

s

custsENTJQRTR.

IIT/ 8

16

15.7
il. 3
17.4
17,9

I?
IS
!<)
20

• 3,700
AUK. SATE
B I L . DOL.
3650.9
IV/85

IK.3
19.6
20.3
2 1.5

H98.H

• 3.600

1/86

3704.7
3718.0

11/86
III/86

JTJi.5
3772.J
3795.3
3831.2

IV/86
3 /87
11/87
111/87

• 3,500

• 3,400

• 3.300

• 3.20G

86. Nonresidential fixed investment, total,
1982 dollars
— — ,
—

Nonresidential fixed investment, total,
1982 dollars

• 490
DEVIATIONS C
BEF.
FROM
ACTUAL
DATA
TROUGH 111 / S i 1

QRTSS.

QRTR.
AND
YEAR

• 470
SESIES

86

ANN.
BIL,

HATE
DOL.

t5 . 5

465.2

i ; .*>

8-7
10. J

4?3.2
441.0
437 .7
443.3

IV/S5

1/86
II/R6
111/86
IV/86

1,8
•9. ?
U.7

426.0
iJ7.9
46 1 . 8

1/87
11/87
IH/87

450

• 430

450

430

•

410

• 410
QRTRS.
SPEC. ,
TROUGH'

• 390

if 8 ON !
1/83 1

ACTUAL ;
DATA ;

• 350

j

1 1
12

SERIES
8b
AMD. RAT
B I L . DOT.
36 .2
465.2
32 -1
453.2

13
14
15
16

28,1
29. 7
24. 7

441.0
437.7
443. 2
426,0

11/86
ill/86
JV/86
1/87

17
18

370

• 390

AHD
YEAR

1H.2
35.2

437.9
461 .8

111/87

20

.]

• 370

1V/85
1/86

• 350

11/8?

0 + 6 +12+18+24+ 304- 36+42+48+54
Motsihs from reference troughs

0 + 6 +12+18 4-24+304- 36+42+48+54+60
Months from specific troughs

NOTE; For an explanation of these chares, see "/ftjw to Read Charts* on p. 107 of the July S9S/ is




109

ALPHABETICAL INDEX—SERIES FINDING GUIDE
Historical
daia

Series title
Clsari:,

. of Series,' following this mrjcn

Building

f,

9/4
9/5
971

I
i

i-

«t fei

j

m
SI
970
976
9/8

in

9/2
973

38
38
38
24
38
38
'(8
ii
38
38
56

65
76
It,
It,
d?
6?

ii

li>
76
Ib

87
8 87
8 87
8
Ii %k
1! 86
11 86
8 87
8 87
8 81
8 87
S 8?

92

iO 87

/C!

76

NonresiiSf nlial structures, constant dollars .
Residential, constant rtollsfs
Residential, per fen! of GNP
Housing starts

Net cnanj,e ..-..-

u ib
Ii

S7

6 87
12 86

24
12

14
!2
13

ii
?.i
23

72
65
65

6 8/
6 86
6 8S

.14
21
21

01
7?

15.35
3!)
32
3!i

73
73
7i
82

5 87
5 8/
5 87
12 8fi

32
32
T!
26

•?

1? 86

12 8b
12 86
'.0-86
3 8/
914
35
3-5
44?
9G

n
29
5i
1/
51

L8.il

ft?

89
62.83

10
39
id
1

I
I

t

i
r
I J I

1 87
2 8/
2 87
1 8/

fe 8/

.ts awarded

5 87
b 8/
5 87

8 87
1
1

1
id

34]
348
349

19
50
50

8 8/
/ 87
7 87

Corporate borxt yields
CorposaSe piotils—See Pro'rts.
Costs-See labor costs ^nd Fnce indexes

J
V

1

1 r.

60

92!k
3SiS

h
n

6
C

MO

I
1 I

920

10
39

60

n

b
C
60
60
60
60

930i

W

I

1

11
1



115
915
917
916
9!0

IS
N
11
10
39

10 8/

9
69

73
?A

6 e7
8 ?,l

?[

67

86

ft

6/
%i
67
S7
83
6?

9 8/
Vs %h
9 HI
9 87
11 S6
i 87

S
O
S
O
^0
40
40
24

64
65

4'87
U 8S

15
\2

li
T!
li
72

i 8?

ii

9 87
1 %1

33
34

4 8/

•19
&

&'S7

20

fi7
89

g
Ii
%
95
39

•!?n

S7
2s
25
4?
25
i22)

n
ii
J2
15.35

33
49

9A
65

m
Hi

(oans sxitsliMidisj. ronslitnl dii('s<
Lo^rib (Mitslandmg. current fellas
losn r , outsEanding. ncl c l a ^ e
Consumer snstallrwnl credit
Crsrjit ciitsSasiding Ratio to personal income
Oreumer installment ioans, dslmqsieflcy rste
Ciedit oubtaniiing. percent chw-ge
Mo'tsage debt, net channe
Crude and sntei medrale riwterisis. change m
producer prices
Crude materials, p^oriycei price snde*

90

/ 8/

\m

66

6 8/

2!

10
US

23
34

66
73

1 8/
2 8?

21
35

m
72

li.li
35
32

U
?3
/I

5 3/
5 ?J

.19
Hi
33

35
'42
15 35
33
i3.32
3?

73
7?
73
/?
12
Ii

5 87
5 g?
9 87
1 87
5
9 86

98
331

28
48

65
8^

5 87
3 87

517
543
580
5/g
577
525

bi
bl
54
^
55

90
9
G
9i
91
91
90

m

54
53
54

!1?
66
U3

95

D
Deb! See Credit
Defense snd space equipment. mdusStsal profliictwi
Detfisss Depjftmenl
Grass obligations incurred
Gross unpard ebligations
Met oiiilays
f-'ersonnei civilian
Peisonnel rr.itiMry
Prime contract awards
frivenSoncs. mjjsiifactiirers'
fjew orders, manutactiiresi'
Shipments, manisisciifrers
Unfilled orders, msiiufacluiers
Detsnss prodycls mduslnes. employmeni
Os'ense pyidases goods and ssrvsces
Defense purchases., percept si GNP
DeSicrt See Goverranpnt
DphnQuency rate, consume! ins.SsNmerit loans

[mpioyees. manufacturing sr^d trdde
tmsloyees on private nonsgricultural payrolls
Irschistridl prsttucbori
Industrial production, comporssrils
iaitial Oairos. Sliile iinemploymenS msuiasice
Inveniones. manufscliinne and tr^de
I dggint; indicators
t eadmg mfeators
New orders, dmable goods inSiiStties
Hew orders, durable goods industries components
Plant and equipmenl eipersd^tyies
Profits, mamstgcturing
Profits, rr.atiulatiutsEg 'wi if-iile
R.iw mrJusirials. spot market prices
Rsw mdubtnais, spot market prices, components
Sales manutactsjiinsi and trade
Selling puces, manutactiirmg
.....

SeinnE u'iif.s. tels! UsSe
Seihng prices, wholesale irade
..
Sfock prii.es. 500 common sacks.
Workweek. marmtacLLiriiig
Warkweek masmfacfufing. components
pibswsirrjle personal iiKOWe--See income

!7

20

Sosrowtsig. total ptsvile

Hew orders. ;ryrriifactur^s .
1

tissue date)

in

Dilfusioii mde>es
Capital appropriations, manufai-tiirsftj;

ID 87

fables

1 it
$.>$

Consume? goods jnrj materials, acw osders
Conssimer goods. inrJusW D'odUfliors
Consumer installment aedil
Credit outstanding
Ratio to personal income
testinscr installment lows. ilElriiqsiencv rate
Consumer prices • See also mteraalioreat comparisons
All items
food
...
Consumer seniiment. mdev
Consumption Fipenditmes See Personal
ronsii-mphers eipenttitiires
Contract awards. Defense Oepdrlrneist
Cositracls and or den. pi mil itnd equipoisnt
const Jot dollars
CoMirixts srsd orders, plant and eqsipment.

'95

Charts

new plivalc

bpe;>d:t«S. plus matfenery and equipment sales
Gross pniiale Sited investment
fJcnresideatisl. constant dollars

^9
76

Sern;s

number

557

548
588

12 86

53

91
90
31
93
95
91
91

7 87
IS- 87
/ 87
I 87
7 87

•y-ai
6.8?
fj'87
8'87
10 87
10 87

570
564
565

55

39
32

3J
12.21

11

96b
ffii
974
963
966

37
36
38
36
37

75

10 86

76
74
75

8- %1
10/87
12•86

962
97b
952
950
954

36

12 •86
8- 87
1- 8fi
S.-S?
9; 87

97s
970
960
%11
96?

38
38
37
38
37

IS
76
74
74
75
77
76
76
75
If,
75
79
76
76
76
76
75
U

973
976
978
977
968
961

55

38
36
36
i7

38
M
38
3S
37
36

8.87
<&•%}

1/86

8/87
8/87
8,87
8;87
2-87

ALPHABETICAL INDEX—SERIES FINDING GUIDE—Continued
f,=.nrens issue
ipige numbers)

iSse (.oropJele biles in "Titles aw
Sources oi Series," fosiowmg Ihis sndex)
ousing
Housing sMris
Housing units a;jlkmz«t By to! building
Residential CPD1. constant sjoiiais.
Sesidetstial GPDI. percent of GNi1

I P

4^.'

48
4{i

9/3
41
96.)

ill?
9G
46
I

I

6fj
l

j

?l
552
1b<
448
47
Mfj

345
447
4.14

91
3'
1.1
•15

4.:

39
If
1/
38
1 -1. i /

36
5J
55
1?
'•6

16
17 16

36
16
51
5!
51
5!
17
5;
51
5!
5!
ii.lfc
i8 5!

18
18
18
\7 !6

6!
62
76
6?
M
ftS
91

62
61
61
61
75
6!

m

89
89
89
62
89
89
89
89
62
62.89
67
6?
62

9 8/
9 8/
8 87
8 8?
8 8/
!0 87
2-Hl
8 87
2 87
4 86
? 87
12 86
12 86
8 8/
7 8/
2-87
2 87
2 11
7 87
2 SJ
2 87
? 87
1 8/
2 8/
? 8/
7 8/
3 8/
? 87

s;

119

i 8?

94

il
80
60

87
10 8/
1 86

W\
iC'tj

W
5?
5?
S?

9
G
30
90
90

52
52
46

Qlj

798

81
81

51 i

)fcj




43

265
564
5G5
iS,il» ,1'iri ii--. ai ruffe

4.!

?6/'

A!

.'6/
?fif)

4,i

768

55
55

90
83

8J
91

9i

si
81

9 87
9 8/
9-37
9 8/
9 R7
9 8?
12 86
11 86
!! 86
!! 86
10 8/
!0 8/
1! 86

,'60

83

ii 86
II 86

a;

43
4/

i! 86

in

84

68

iO

/!]

5 Sf
9 8/

=.;•

•9 40

Hj 80

5 Si

.'ii'i

ji
•10

iO;'

<;

49

;>0

i;0

•18
V:

!;,"

Sz
80
S
O
80
80

business sector
Conspensahon of employees, pefcent o'
national income
Compensation. ?eat average 'lo^irly. nuntdrm
business sector
Coiiiiiraer installment credit, ratio to personal mcorrie .
Corpofair profits vn9\ F A anri CCflrfi
V
Corporate prolits wilh P A and CCAd). percent
V
0: national income
Disposable pfrsonsl mcom«, wnstant dollars
Qivjosstite iwfsonai fnccBie. w o i i i M s r i
. .
Oraposable personal income, per capita.
Ldnslsnt dollars
economy
tflmngs. ?es^ averasf fwsiriy private nonlarm
Konomy
Income on loreign fflvestment m the Llmtsd States
income on U S investment abroad
Interest, fie!
Interest, net percent o! national income
National incoms
Pssoiial intorrss. constant fcilsrs
Pmvntil BicoiTO, tunenS dn\hi$
Person^ istome less traosfes psymsiits. constant dollars
RatP ot change
....
Total
Persona! incixrw. ralio to money sypply W?
Pi3p?ieto?s income wi!r> IVA and CCAdi
Propnptors' income with iVA and CCAd] percsn!
oj national income
....
Rental iccome ol perwiw wilh CCAdj .
fftnlsi income of person's wrfd CCArJ[. sertefi)
of national income
Wage anrJ benetst riEcffioiss. lirst year
Wage and benefit decisions. Me ?A contract
. .
W^es 3Jid iid)dr£^ jii njjni^. miuisiiactijj'ing,
and consfriiflion
Incotporaliens, new businesses .
industrial sommoihties. produce? price mde* .
Induitssal prodiicthijn. See also International comparisons
Business equipment
Ctmsymer goods
Defense and space eqwproenl
.
. .

7j
f,i.

m
«(.-

ToSal. Dl

!»t<M mis of chaagf
l-'sdustrials. n:n. spot market prices
Component
Orlisissosi index
Spot mafkel mdei
Inslijllment credil — S«e Credit
Insured isridrnployment
Avesap weekly initial claims. Dl
Average weekly- msuied iisemploymenf late.
feli'TPSt. ne! pettent ol siatsHial income
(ntere'iS rale1.
Sank sales «a jhor' term fejsmesi loans
Cdfoorate bonj yields
MoriKase yieSds. secondly market
•^lii^ii ipdl boi^d yields
Prsjne rjte ctsarged by banh
Trpasury b'St faie
tseasusy bend ^elr)s

frante
l!a!y
ia Dan
United Kmgdo1!1feted States
Wes! Germany

llaiy
Japan

GtCD. furopt.an coun
8 87
8 S7

Charts

lablss

28
29
89
249

»
0.25
25
47

%7
67
67
S3

Hi sim sea!

Series

(issue date)

(*)

3/8?
6/8/
9/87
1L-S6

m
24
40
40

10.8/
Si/86

345
30,47
346
%i

JS.S?

49
15.35

SS
73

UnilPii Slates
West Germwv

10/87
9/87

um
12/8fi
1G.;8J
10/87
iQ/87

341
657
65!
289
220

5?

Til

5k
51
SOB

49
57

a/
93

57

93

•*3

47
45
19
40
3S
14J9
31

m

83
82
63
63
63
71
U

8/87
7.'87
7/87
12/86
10.-87

9-s;
9-37

9.8/
9/87
S.;87
!!••«

283
2S4

4/
45

m

H.-86

82

11 86

m>

47

349

50

83
88
88

H-86
7.87
7 ; 8i

53
13
335

19
23
48

63
65
85

9'87
6-86
3/87

76
75
557
73
74
47

11
67
Zi
65
54
91
20
63
20
63
14.20.58 63.94

Total components

!)•«/

9 8/
10 8/
10 8/
iS 8/
3 8/
9 8/
9 8/

^urnbe?

mplK.it p n u cieilaiCT GNP
nporis See hteinatiensS i

Tntal
5'J2

Current issue

Series hlk
descriptors

n
7S

tf-'Sfi
12 '86

12/86
12-86

i2m

i?/86
12,86
12-U

966
4?c

37
39

96/
23

37
28
12.16
36
18
45
4/

61

962
35
2SS
289
6/
116
119
118

35
34
34
34

73
73
11

W

"ii

109
114
US
Ji?

35
34
34
«

72
73
86

m
I'm

59
59
S3
59
59
49
59

%
95
96
95
9b
84.95
95

5 87

723
J?6
727
728
721
/??
47
72b

53
58

94
94
94
58
94
58
94
58
53
34
14,20.58 63.94
58
94

6 87
6.87
6'8/
6-87
6 8?
6-87
1?'86
6-87

737
738
732
J?0
?35

79
75
69

n
67
82
83

n
«
73

I 86
1-8S
1? 86
12/86
J'S?
12:86
12-86
12-8S
2'87
3'87
3'87
I-87
1-87
2.'87
2 87
3 87

5 ''il
5.8/
5-87
5.87
4.-87
5'87

111

ALPHABETICAL INDEX—SERIES FINDING GUIDE—Continued
Current 'SSiie
ipsge mjtr.bcrs!

data
sue date.1

CuirenS issae
i p s p numbers)

Series Wie
'See complete tiUes in 1 :Ues and
r i e s of Se-rss^." loilowing this i n f o

Ctiarts

Tables

Historical
da!a
(issue date)

descriptor-

1.87
/46
717
718

74?
19
?45
66/
62?
602
618
604
256
252
658
606
61?
620
616
669
25/
253
6<4
55?

59
59
59
59
69
59

96
96
96
96
96
%

57
57
56
5/
56

93
93
92
93
92
82
S?

•14

7
/
/
7
7
7

87
87
8/
8?
87
8/

J 8/
/ 8/
10 87
1 87
10 8/
1! 86
Jl 86
/ 8/
W 87
10 87
7 87
10 87
/ 87
11 86
11 86
10 8/

ii 1 )!

44
5?
56
56
5/
56
5/
5'1
44
56
57
57

255

U

8?

11 86

>55
25!

«
47

82
83

il 86
il 86

21b
747
559
65

4?'
47

77

lb.?/

915
7i

I!
7]
?b

93
9?
92
93
9?
93
82
8?
V
93
93

68.81

bi

?/

8!
83
91
68
68
60
68
68
68

/ 8/
/ 8/

9 8/
S! 86

n 86
6 8/

9/5

1)
38

76

b
6
I
6
6
6
8

36

13 ?6

68

9 86

;'8

2!

68

5 87

i8

>b

68

5 8/

9/

24
24

12 86
\2 86
IB 86

8 8/

ji
Hi

96b
914
9

it
I}

>i

66
66
75
60
66

69

2-1

bl

i \

Mo
25?
86

42
4?
25

248

4/

88

2b
25
25
47
4?

87

89
249
M)
'10

V

&l
81
6/
83
6/
6/
6/
83

m
81

87
8/
86
87
8/
87
8/

I 8fc
6 87

I! 86
9 87
1! 8ft
9 87
9 8?
9 S7
11 86
II 86
1? SS

4 87

IOC
61
970




Liquid assess, tMange m tol^
Mpfiey suDijiy M l . corsstanl doliari
Mosisy supply mi percent charigss
Mosiey supply Ml' roustgnt dollars
Money siapiy M2. pe'reni enanges
Ratio GUP to riioney yjpply Ml
Ratio jif'iOiial intome to money supply Si?
Mosigsgc debt ne! change
MoMgagp yieMi, secondly market
MiifiCiPSl band yields

5,87
5-8?

105
S5
1S
S
102
10?
108
33
US
11?

68
63

30
3
G

6?
62
26
I'iO

31
31
31
31
31
31
32
34
34

71
71
71
71
71
71
71
71
73
73

1 8?
4-8/
4 •87
4 •87
4 •87
87
a;87
8
9-86
87
3•87

13.31

23
29
29
3
D
29
30
30
31
35
35

N
Se
e
'!ens
National Goiwsmcsii See GovcnmenS
National mcame See In-row
New (irsMirs. stsssiifacturefs'
Capilal ff'Od^ insjiistnes. nondelenie
ion^'aiit dollars
Capita! goods si5<j<jsUies nondeieiise. cuTisn
Consumer goods t^rstl nsaterwli. tonsldnl do
Contracts arsd Orlifri srdn! and eqisipment
tonsUn! dolors
Contidits and orderi. (ilrfnl sni fauipmeiil
tisrrerit dollars
Defense tKO-teis
Su!3h\» worlds snSii^tries. rnsistaiit dollars
DusBble- cood^ ira!i:st'ips. csirifrst dollars .
f.im ponenSs
Piftiir,ion Midei
Nrn afdsre. rsicSfSLFiactunng. Oi
SineresideAtial lixed invesl^ent
Producers du'Sbie (quipmenl tonsSiini stoil
Strsjctiises. tonslanl dclia^
Total- consldii dolldr^
TeSjI. percent Ol G«?

8

12.21

64

4-87

20

12.23

66

6-8/

iO
548
/
6

23
53
2\
2\

4 87
5'87
4 87
4 8?

964
971

37
38

66
90
64
64
77
75
76

88
87
86

25
25

2-58

47

Obl!g<ihs«i isniiired. Detense Dep^rifiicsil
Gblipirans unpaid Defense Depsrtm?ni
OECO. tisropeas1 coynines. indliStfial production
O'deri—See tew aider; and Unfilled orders
Oiitldys Deienss Oepartmen!
Oiilpul See jiso Gress national product and
lisdusfnal p'C-dddion
Goods oulpiit. corstsn! dollar;
USor coil oe! unit of
AUua^ ijdld
Actual dt$!si iii peaeiil o! Srsri{|
Ff; noisr rjsiyness secior.
Pe; hoisr nontarm busineii setio^
Ratio to casatitv manutacturm.i;
R^fe to (s>ac>ty nijienais

51/
543
7?l

53

62

30

62
370
358
82
81

15
50
50
20
20
16

88
88
64
64
61

153
452

51

89

83

2.-8/
2'87

9

451

51

89

2-87

9

55
233
232
238
236
239
237
231
230
235

22

47

83

9-8/
H.86
H 86
H<86
11/8$
11.-86
H/86
It '85
U/86
1! .'86

39
39
39

<
n
a
41

65
80
B
O
81
SI
81
81
80
B
O

292
293
6i4

46
46
56

82
83
92

12.-86
12-S6
10/87

48

21

7 87
7 8?

112

M
MsienSiS and sappiiei c-i' t^iid drssS o;i Order
TOfiufactufe's invern!ofies
Matensis and supplies on Isaix] arsd on order
m^iylactyte'S' inventories, change
Materials., onacily litigation ia!e
Msten.ils ne* orders, for consumet soods asid
M^itG'i^s price*. •• See Pnee mdeis^
Merchandise iiade See International transschoiis
Military--See Oelesse
Money and tiridaciaS flows Cl
Monty supply

25

9 87

8'87

6/
67
67
S3

9,87
11 'Sfi

30
30
94

7 87
10 8/
6-87

10
70

10 8/
10'8?
10:87
10-87
12/86
12-86

9,8/
9-8/

SI 'Ab

6 87

(lDtjr s.Oil [S' il'll! Ot S!5SS StCliUCSih ISOllliiJ
a&sr c?s! i>er uml o< outpu=. biib^esi iecuw
ab*' Ms! K f ijr'i! oi ffliitaiil mani>!,i(!sirriig
fii !?!<?: dslu
4ctoil dtJta j i pereen! ol liens
POf cos! ]ifi(e ]ii" am! ol rnsiildsni Dusicess
issor ton e See fBiploj-niesif
lSS">gTttejlOri. ii<
C o m p i l e mdfi
Composite mile* rate o ! ch^ge

Liabilities o! business failures
Liquid 35se!s. ckwg?. in [oUI
Loaf i See Credit

70

9 8/
10 i'l

31i

m

15
?.S

70
70

10 87
10 87
10 8/

Hi

60

39
36

/4

10 8/
10 il
1 86

arUi!(iiitsw! fdies Oiviiiafi iabtis hue
Both seies 16 \3 yeah ol age
Females 20 ve^s and eve:
Mjiei 20 yea;s aud over

Durable goods., constant (folios
[isj'jble goods CiiiTerst dollars
fedyfable soods. constant dollars
Noi'darablc goods, current doliais
Sert'Ces raiistsrst dollars
Sen'ices. currcnl dollars
Tot.il coistanl dollars
Tod?1, cisrrcnl dollars
Tots! ?e-ffen! of GNP
P{irsonJi s'w.oriie Sef income

rsd petroleum prpducis. imports

53
58

bl

1]
•ii

11
11
41

39
39
3S
39
39
39
39

56

ALPHABETICAL INDEX—SERIES FINDING GUIDE—Continued
Series Srtle
(See wmpiele tiUes in 'Mies and
Sources o- S«nes.' following this m f c
Plarst mi equipment—See also investment, wpita!
Contract and ordsrs. constant i f e t o
Contracis and orders csjfrenl dollars
. .
Lspeisdr tares by harness. consian! dollar?
EipcndUijres by businpss. omeiit dollars
t (pen dilutes by busmess. 01
Population, civilian employment ss pe?c^ni of
Price indeses
Consumer prices See also irrt etna teal comparisons
All jlcras
Food
Deflato!1,
Fixed n e s t e d gross liomesiic business piorjm.t
Itsiplirjl (ijicp deilaioi Wp
Labor cos! puce p«r unst ol nnnia™ business
Producer prires
i l l commodities
CawUI tvwpirienl
Ciiide. materials
finished consurw goods
indnitnal rommodrties
fnlermeriiate materials
Sensitive crude and siitefmefeie materials
Raw industrials spot market prices
Components
Oillusion inciet
Spot market iniSn
Sensitive, cjude ano1 mier mediae materials. chanae
in producer prices
Sensitive materials prices, percent change
Slock price; See also lnlernalional comparisons
500 common Mocks
500 common stocks 15!
Ptice tf» um! labor cost, noatarm business
Prices, stlbisg
ManiilaUursrsj 1 1
3
Retail tfjjile. D l . . . . .
Wholesale rralie. Di
('rime cost'ac! awarsis Dficnse Oesarlinen!
P^ime rsti; {harged by basiks
Piodticw price:. Sf>( Puce wdexes.
Prsitijcers duribli 1 eqinpmenl. rninresidenNi, GPO>
Prodiif-tiOii See Gross nations! prodiK' srsil
Indeslrsa! praduclion
PradMChwtf
Oulpsit per hour, basinet Sfitor
Oiilpiit p»r iiour !>onlarm blisiriess sedO;
Pfofitabihiy Cl
fronts
Corporate prohss ,<tler tas
Conslan! doMaps
Ctiirent dollars
Wilii (W and CCttiii constjiTt Unil^
Wilh 1VA and CCAd|. ciirrenl (ipilats
Corsorrstp proiilt. iiefere tai
With IVft arid CCAttj
With IW jnd CCAdi BPrrpn! o( rsjliorij; mrrjnsf
Manufacturing M<i tradf. 01
ManuSaf-liifsng DI
Per dollar of salei. msmstai taririg
ProiiUbilsty. Ci
Raho. pfoiii-i la (orporj!e rfornesitt snesinp
Ratio [irrjfils with IVft and C£M\ !o corocrate
domestic liicomi;
Pi.iprielors income wild IVA ar?d CCAd^
Propneturs' mcome with IVA and CCAdi perrcit o (
ridliona! income

Series iiUe
;bee complete titles in "TirJcs and
ircei of Sc-ues," following tins indei

WM

Rpsiderstisl sliiiEturss

' Tlsi1




tissue date)

Series
description
(*)

See Housing.

Retail ssles. mititani dollars
RcLisl sales, ru'rent rttstois

% 87
6:87

i l 86

Fsrwi sales, ennitan? dollars
Mtfcfenffy end c-fjujprowjl ^^

32?
ill

9 §/
9 37
10 8/

98
48
29

84
81
70

335
i32
98

48
48
48
18
W
78

86
85
86
85
86
69

96/
?3

V
28

/5
69

58
99

28
IMS

S9
69

5 87
i 3/

19
968
?S

i3 2g

69
75
W

7 87
2'87
IQ-8?

?6
76
76

H 8/
8 87

310
26

m
331
3.14

37

n

976
978
97/

38
38

109

35

88

fg

>:•

3 8/
3 8/
3 87
3 8?
3 87
3. S7

28
2£

Business saving
uovemmfnl siiip:i;s OF dehc^t
Gross saving
Personal saving
Peisonal w i n ? rate
Selling prices- See Prices, selling
Sensitive truile and mle^mediate materials, change
m producer prses
Sensitive matetsaK prices, percent change
Shipments ol sielense prodiicls
Spol msifeel jsnces. iaw mduilnals
Components

69
57
56
973
11
59
54
295
298
290
292

9G

24

6?
65
61.
76

8 8?
§.fi7
6 87

22
22

65
65

6 8?
6-8?

-56

82
S3
82
S?

12-36

H.22

22
38
15.27

46
46
46

28

69
91

79

29

» ; •

76
7b

8,87
8 g/

54

967
23

37
28

75

19
968

S3.28

69
75

1 HI
2'87

34
34

n
n

1. 87
2 %1

9i
60
5
962

15.18

36

6Z
61
61
74

2 a/
2 87
12 8i
i?-8(

146
445

FuS bum ;
Mal?s ?Q
Total uner
IJiiemploymi;
)b weeks
Insurei! in ^"mploymeiit
Total .
Hied orders mani?lacU^r^rs
Pfteose nrs-d ucts

itn;

51
51
51
51

U
S
89
89
89

18 51

62.85

2
2
2
2
2

18
18
18

62
62
62

2 87
3"S7
2 8/
6 87
4 8/
1 8/

Spot market mdei
Stiile ajid locsi gcver^nseni See Governmefit
Slock prices See also Infsrnationai !;orsipari5op-:b00 common stocks
500 cwmon slocks. DI

3/

m

'

^

'

"

411
37
U

45
43

16
12 16

9 8/
f I -86

561

54

9!

Durable good1, mdiistne-). tSiange
f t e d Kini'dsm See Intpriialirpndi comparisons

25

21

03
64

!' !o money s^pp^y Mi raiio
f i i ) i . r ireome -ID money supply M?, ra!i
f!' pei-fo^-aiir? slower deNueiios

9 8/

107
JOS
32

\T/A

i

as

33
25

3i
3b

8/
87
87
87
87

12.1b

961

36

•.V.if.!- ,jiid '.jijiies Sft:
Hes! Gpsmsny See lolfl
W

4s,

3i
31

n
1\.
64

8 87
8 87
1 86

30
17

See Prsrie miteies

n%
9J

b-%7
5:87
6 87

99

13.28

588

•

8?

si

12,86
12,86

Duration of -^mploymtmi. aveiags
o
Help wanltd adve'tsing. jat:o !o sisemploymi
liirtui claim1". fi>! unemployment insurance llll-.lS tl.JrIPS hr iivmok)ymen\ iiswaace. DI
Number une' ililloyerj
Both sex?

69

•IS

m

12/86

114
115

69
W.

286
?£?
9/2
960

J7
38
37

Manufacturing mi trade sales, constant dollars
Manijtijctarins; and tiafle sales, current dollars
Maniif.Ktcr.-nK and imie sales PI
Ratio mientorips So sales, manufacture and trade
Retail sales, constant fcPss.
Retail saies currenl dollars .

•

916
IS
16

)0 8/
iid business

/3
{

1 8/

Cl iomansi*i> .n=fc* DI ^ t h r - i r a ndex GNP [,mw r'.ihi.oj! B :
fliimbf '.S'-ow'i is Ilie owe ol tl>e Handbook o> CyckS Wfcj.'a-'i ' i 9 8 4 > on which the seises deyniiiiO

CCAdi. EdislaiftTO'jmeliooadiiiSimpjii

Tables

Residential b e d investment. pF!?«fit o( GNP

R

Spsl n'ark?t mdei
Rpnlai siititmf ot persons with CCAdi
Rental 'ricome of persons wsth CCAdi. pe'i.pni
ol idtiri'M! sisoi'ie
fiese've, tree
Residential Sin;d invesfm»n|. torsstanl dollars

Charis

vafudtujn dii|us!rneiil

1
3

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. "W following a series title
indicates monthly data; " Q " indicates quarterly data.
Data apply to the whole period except when indicated by
"EONS" (end of month) or "EOQ" (end of quarter).
To save space, the commonly used sources listed below
are referred to by number:
Source I—U.S. Department of Commerce, Bufeau 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.
Following the source for each series is an indication of
the pages on which that series appears. The "Series
finding Guide" aiso lists chart and table page numbers
for each series.

Composite index of twelve leading indicators
(includes series 1, 5, 8,12,19, 20, 29, 32, 36, 99,
106, 111) (M).-Source i
(10,39,60)

914. Composite index of capital investment commitments
(indudes series 12,20,29) (M).-Source 1 (11,60)
915. Composite index of inventory investment and purchasing (includes series 8, 32, 36, 99) ).—Source
1
(11,60)
916.

Composite index of profitability (includes series
19,26,80) ( M ) . - S o u r c e l
(11,60)

917.

Composite index of money and financial flows
(includes series 104, 106, 1 H ) (M).-Source
1
(11,60)

920.

930.

940.

11. Newly approved capital appropriations, 1,000 manufacturing corporatiens (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.
(23,65)

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)

14. Current liabilities of business failures

Source 1

(29,70)

35. Corporate net cash flow in 1982 dollars (Q).—Source
1

(29,70)

36. Change in manufacturing and trade inventories en
hand and on order in 1982 dollars (M).—Sources 1
and 2
(13,26,68)
37. Number of persons unemployed (M).—Source 3
38. Change in manufacturers' inventories, materials
and supplies on hand and on order (M).—Source

ing corporations (Q).—Source 2 and Federal Trade
Commission; seasonal adjustment by Bureau of Economic Analysis
(29,70)

40. Employees on nonagricultural payrolls, goods-

Source 1

(28,69)

19. Index of stock prices, 560 common stocks (M).—
Standard & Poor's Corporation

(13,28,59,69,96)

20. Contracts and orders for plant and equipment in
1982 dollars (M).-Sources 1, 2, and McGraw-Hill
Information Systems Company; seasonal adjustment
by Bureau of the Census and Bureau of Economic
Analysis
(12,23,66)
nonsupervisory workers, manufacturing ( M ) . —
Sources
(16,61)

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)

1-8, Cyclical Indicators

(12,16,61,77)
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)

24. Manufacturers' new orders in current dollars, nondefense capital goods industries (M).—Source 2

(23,66)
25. Change in manufacturers' unfilled orders, durable
goods industries (M).—Source 2

(21,64)

26. Ratio, implicit price deflator to unit labor cost,
nonfarm business sector (Q).—Sources 1 and 3
(29,70)

6. Manufacturers' new orders in current dollars, durable
goods industries (M).-Source 2
(21,64.77)

27, Manufacturers' new orders in 1982 dollars, nondefense capital goods industries (M).—Sources 1
and 2
(23,66)

7. Manufacturers' new orders in 1982 dollars, duraS).-Sources 1 and 2 (21,64)

28. New private housing units started

8. Manufacturers' new orders in 1982 dollars, consumer goods and materials industries (M).—Sources
land 2
(12,21,64)

29. Index of new private housing units authorized by

9. Construction contracts awarded for commercial
and industrial buildings, floor space (M).—McGrawHill Information Systems Company; seasonal adjustment by Bureau of Economic Analysis (Used by
permission. Bis series may not be reproduced without
written permission from the source.)
(23,66)

(26,68)

18. Corporate profits after tax in 1982 dollars (Q).—

22. Ratio, corporate domestic profits after tax to total
corporate domestic income (Q).—Source 1
(29,69)

1, Average weekly hours of production or nonsupervisory workers, manufacturing (M).—Source 3

2

(28,69)

Source 1

Composite index of six lagging indicators (includes
series 62, 77, 91, 95, 101, 109) (M).-Source
1
(10,39,60)
Ratio, coincident composite index (series 920) to
lagging composite index (series 930) (M).—Source
1
(11,60)

(18,51,62,89)

39. Percent of consumer installment loans delinquent
30 days and over (EOM).—American Bankers
Association
(33,72)

16. Corporate profits after tax in current dollars (Q).—

21. Average weekly overtime hours of production or




34. Corporate net cash flow in current dollars (Q).—

).-Dun
(33,72)

& Bradstreet, Inc.

Composite index of four roughly coincident indicators (indudes series 41, 47, 51, 57) (M).—Source
1
(10,39,60)

114

33. Net change in mortgage debt held by financial
institutions and life insurance companies (M).—
Sources 1; 4; 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; and Federal Home
Loan Bank Board; seasonal adjustment by Bureau of
Economic Analysis
(32,71)

15. Profits after taxes per dollar of sales, manufactur-

I-A. Composite Indexes
910.

10. Contracts and orders for plant and equipment in
current dollars (M).—Sources 1, 2, and McGrawHill information Systems Company; seasonal adjustment by Bureau of the Census and Bureau of Economic Analysis
(23,66)

2
local building permits (M).-Source 2

Source
(25,67)
(13,25,67)

30. Change In business inventories in 1982 dollars (Q).-~
Source 1

(26,42,68,81)

31. Change in manufacturing and trade inventories
(M).-Sourcesland?
(26,68)
32. Vendor performance, percent of companies receiving slower deliveries (M).—Purchasing Management Association of Chicago
(12,21.64)

producing industries (M).— Source 3

(17,62)

41. Employees on nonagricultura! payrolls (M).—Source
3
(14,17,62)
42. Number of persons engaged in nonagritultural activities (M).-Source 3

(17,62)

(18,62)

43. Unemployment rate (M).—Source 3

44. Unemployment rate, persons unemployed 15 weeks
and over (M).-Source 3
(18,62)
45. Average weekly insured unemployment rate, State
programs (M).—U.S. Department of Labor, Employment and Training Administration
(18,62)

46. Index of help-wanted advertising in newspapers
(M).— The Conference Board

(16,61)

47. Index of industrial production (M).—Source 4
(14,20,39,58,63,78,94)

48. Employee hours in nonagricultural establishments
(M).-Source3

(17,39,61)

49. Value of goods output in 1982 dollars (Q).—Source
1

(20,63)

50. Gross national product in 1982 dollars (Q).—Source
1
(19,39,40,63,80)
51. Personal income less transfer payments in 1982
dollars (M).-Source 1

(14,19,39,63)

52. Personal income in 1982 dollars (M).—Source 1
(19,63)
53. Wages and salaries in 1982 dollars, mining, manufacturing, and construction (M).—Source 1

(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).-Sourcesland2

(22,65)

57. Manufacturing and trade sales in 1982 dollars
(M).—Sources 1 and 2

(14,22.65)

58. Index of consumer sentiment (Q,M).—University
of Michigan, Survey Research Center

(22,65)

59. Sales of retail stores in 1982 dollars (M).—Sources 1
and 2

(22,65)

TITLES AND SOURCES OF SERIES—Continued
60. Ratio, help-wanted advertising in newspapers to
number of persons unemployed (M).—Sources 1,
3, and The Conference Board
(16,61)

88, Gross private nonresidential fixed investment in
1982 dollars, producers' durable equipment (0).—
Source 1
(25,67)

61. New plant and equipment expenditures by business
in current do!lars(0).—Source 1
(24,67)

89. Gross private residential fixed investment in 1982
dollars (Q).-Source 1
(25,67)

62, Index of labor cost per unit of output, manufacturing (M).-Sources 1 and 4
(15,30,70)

90. Ratio, civilian employment to population of work-

63. Index of unit labor cost, business sector
3

ing age (M).—Sources 1 and 3

-Source
(30,70)

Free reserves (M).—Source 4

64. Compensation of employees as a percent of national
income (Q).-Source 1
(30,47,70,83)
65. Manufacturers' inventories, finished goods(EOM).—
Source 2
(27,68)
66. Consumer installment credit outstanding (EOM).—
Source 4
(35,73)
67. Bank rates on snort-term business loam (Q).—Source
4
(35,73)
68. Labor cost in current dollars per unit of grass
domestic product in 1982 dollars, nonfinancial corporations (Q). -Source 1
(30,70)
69. Manufacturers' machinery and equipment sales and
business construction expenditures (M).—Source
2
(24,67)
70. Manufacturing and trade inventories in 1982 dollars (E0M).-Sources 1 and 2
(27,68)
71. Manufacturing and trade inventories in current
dollars (EOM).-Sources I and 2
(27.68)
72. Commercial and industrial loans outstanding in current dollars (M).— Sources 1, 4 and The Federal
Reserve Bank of New York
(35,73)
73. index of industrial production, durabfe manufactures (M).-Source 4
(20,63)
74. Index of industrial production, nondurable manufactures (M).-Source 4
(20,63)
75. index of industrial production, consumer goods
(M).-Source 4
(22,65)
76. Index of industrial production, business equipment
(M).-Source 4
(24,67)
77. Ratio, manufacturing and trade inventories to sales in
1982 dollars (M).-Sources 1 and 2
(15,27,68)
78. Manufacturers' inventories, materials and supplies
on hand and on order (EOM).-Source 2 (27,68)
79. Corporate profits after tax with inventory valuation and capital consumption adjustments in current dollars (Q).-Source 1
(29,69)
80. Corporate profits after tat with inventory valuation and capital consumption adjustments in 1982
dollars (Q),-Sou r e e l
(29,69)
81. Ratio, corporate domestic profits slier fax with
inventory valuation and capital consumption adjustments to total corporate domestic income (Q).—
Source 1
(29,70)
82. Capacity utilization rate, manufacturing ( M ) . —
Source 4
(20,64)
84. Capacity utilization rate, materials (M).--Source
4
(20,64)
85. Change in money supply Ml

-Source 4

(31,71)

86. Gross private nonresidential fixed investment in
1982 dollars (Q). --Sou reel
(25,67)
87. Gross private rtonresidentia) fixed investment in
1982 dollars, structures (Q).-Source 1
(25,67)




(17,62)

Average duration of unemployment in weeks (M).—
Sources
(15,18,62)
(33,72)

Member bank borrowings from the Federal Reserve
(M}.-Source4

(33,72)

95. Ratio, consumer installment credit outstanding to
personal income (M). —Sources 1 and 4

(15,35,73)

96. Manufacturers' unfitted orders, durable goods industries (EOM).-Source 2

(21,64)

97. Backlog of capita! appropriations, 1,000 manufacturing corporations (EOQ).—The Conference Board

(24,66)
gg. Percent change in producer prices for 28 sensitive
crude and intermediate materials (M).—Sources I
and 3
(28,69)

99. Change in sensitive materials prices (M).Souices
3, and Commodity Research Bureau, Inc.

I,
(13,28,69)

1W. New plant and equipment expenditures by business
in 1982 dollars (Q).—Source 1
(24,67)
Commercial and industrial loans outstanding in 1982
dollars (M).-~Sources 1, 4, and The Federal Reserve
Bank o! Mew York
(15,35,73)

102. Change in money supply MZ (M).—Source 4 (31,71)
-Sources 1 and
104, Change in total liquid assets
4

(31,71)

105. Money supply M l in 1982 dollars (M).—Sources 1
and 4

(31.71)

106. Money supply M2 in 1982 dollars (M).—Sources I
and 4

(23,31,72)

107. Ratio, gross national product to money supply M l
(Q).-Sources I 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

no.

(35,73)

Funds raised by private nonfinancial borrowers in
credit markets (Q).-Source 4
(32,72)

I-C, Diffusion Indexes
950. Diffusion index of twelve leading indicator components (M). -Source 1
(36,74)
951. Diffusion index of four roughly coincident indicator
components (M).—Source 1
(36,74)
952. Diffusion index of six lagging indicator components
(M). -Source 1
(36,74)
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)
961. Diffusion index of average weekly hours of production or nonsupervisory workers, 20 manufacturing
industries (M).—Sources 2 and 3
(36,74,77)
962. Diffusion index ot 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 employees on private nonagricultural payrofis, 172-186 industries (M).—Source
3
(36,74)
964. Diffusion index of manufacturers' new orders, 34-35
durable goods industries (M).—Sources 1 and 2
(37,75,77)
965. Diffusion index of newly approved capital appropriations in 1982 dollars, 17 manufacturing industries (Q).-The Conference Board
(37,75)
966. Diffusion index of industrial production, 24 industries (M).—Sources 1 and 4
(37,75,78}
967. Diffusion index of spot market prices, 13 raw industrial materials (M).—Sources 1, 3, and Commodity
Research Bureau, inc.
(37,75.79)
968. Diffusion index of stock prices, 500 common stocks,
40-82 industries (M).—Source 1 and Standard &
Poor's Corporation
(37,75)
970. Diffusion index of expenditures for new plant and
equipment by U.S. nonfarm business, 22 industries
<Q).—Source 1
(38,76)
971. Diffusion index of new orders, manufacturing— about
600 businessmen reporting (Q).—Dun & Bradstreet,
inc. (Used by permission- This series may not be
reproduced without written permission from the
source.)
(38,76)

Change in business and consumer credit outstanding
(fyl).—Sources 1, 4, Federal Home Loan 8ank Board,
arid The Federal Reserve Bank of New fork (13,32,72)

972. Diffusion index of net profits, manufacturing and
trade—about 1,400 businessmen reporting (Q).—
Dun & Bradstreet, Inc. (Used by permission. Trrrs
112. Net change in business loans (M).—Sources 1, 4,
series may not be reproduced without written
and The Federal Seserue Bank of New York (32,71)
permission from the source.)
(38,76)
Net change in consumer installment credit (M).—
973. Diffusion index of net sales, manufacturing and
Source 4
(32,72)
trade—about 1,400 businessmen reporting (Q).—
H4.

Discount rate on new issues of 91-day Treasury
bills (M).-Source 4
(34,72)
Yield on long-term Treasury bonds (M).—U.S. Department of the Treasury
(34,73)

li6.

Yield on new issues of high-grade corporate bonds
(M).—Citibank and U.S. Department of She Treasury
(34,73)

117. Yield on municipal bonds, 20-bond average (M),—The
Bond Buyer

(34.73)

Secondary market yields on FHA mortgages (M).—
U.S. Department of Housing and Urban Development.
Federal Housing Administration
(34,73)

119. Federal funds rate (M).-Source 4

(34,72)

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
(0).—Dun & Bradstreet, Inc. (Used by permission,
This series may not be reproduced without written
permission from the source.)
(38,78)
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)

115

TITLES AND SOURCES OF SERIES—Continued
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)
977. diffusion index of selling prices, wholesale trade—
aboui 400 businessmen reporting (Q).—Dun &
Bradstreet, inc. (Used by permission. This series
may not be reproduced without written permission
from trie source.)
(38,76)

243. Gross private domestic fixed investment in 1982
dollars (Q).-Source 1
(42,81)

289. Net interest as a percent of national income
(47,83)
Source 1

Change in business inventories in current dollars

290. Gross saving (Q)-—Source 1

(46,82)

(Q).-Source 1

245.

292, Personal saving (Q).—Source 1

(46,82)

(42,81)

247. Change in business inventories as a percent of
gross national product (Q).—Source 1
(47,83)
248.

293. Personal saving rate (Q).—Source 1

(46,83)

295. Business saving (Q).—Source 1

(46,82)

Gross private nonresidential fixed investment as a
percent of gross national product (Q).—Source 298. fiovernment surplus or deficit (Q). -Source 1
(46,83)
1
(47,83)

978. Diffusion index of selling prices, retail trade—about 249. Gross private residential fixed investment as a
percent of gross national product (Q).—Source H-B.
400 businessmen reporting (Q).—Oun & Bradstreet,
1
(47,83)
Inc. (Used by permission. This series may not be
310.
reproduced without written permission from the 250. Net exports of goods and services in current dollars
source.)
(38,76)
(Q).-Source 1
311.
251. Net exports of goods and services as a percent of
H-A. National Income and Product
gross national product (Q).—Source 1
(47,83)
320.
30. Change in business inventories in 1982 dollars (Q).—
252. Exports of goods and services in current dollars
Source 1
(26,42,68,81)
(Q).-Source 1
(44,82)
322.

50.

Gross national product in 1982 dollars (Q),—Source
1

(19,39,40,63,80)

253.

Imports of goods and services in current dollars
<Q).—Source 1
(44,82)

64.

Compensation of employees as a percent of national
income (Q).-Source 1
(30,47,70,83)

255. Net exports of goods and services in 1982 dollars
(Q).-Source 1
(44,82)

200.

Sross national product in current dollars (Q) —
Source 1
(40.80)

256.

213.

Final sates in 1982 dollars (Q).-Source 1

217.

Per capita gross national product in 1982 dollars
<Q).—Sources 1 and 2
(40,80)

Exports of goods and services in 1982 dollars
(Q).-Source 1
(44,82)

Prices, Wages, and Productivity
Implicit price deflator for gross national product
(Q).-Source 1
Fixed-weighted price index, gross domestic business product (Q). -Source 1
(48,84)
Consumer price index for all urban consumers
(M).-Source3
(49,59,84,95)
Consumer price index for all urban consumers,
food (M).—Source 3

330.

Producer price index, all commodities
3

Source
)
331. Producer price index, crude materials for further
processing (M).—Source 3
(48,85)
332.

Imports of goods and services in 1982 dollars
(Q).-Source I
(44,82)

Producer price index, intermediate materials, supplies, and components (M).—Source 3

333.

260.

Producer price index, capital equipment (M)
Source 3

National income in current dollars (Q) —Source
1
(45,82)

Government purchases of goods and services in
current dollars (Q).-Source 1
(43,81)

334.

261.

Producer price index, finished consumer goods
(M).-Source3

Personal income in current dollars (M).—Source
1
(40,63)

Government purchases of goods and services in
1982 dollars (Q).-Sourcel
(43,81)

335.

262.

Producer price index, industrial commodities
(M).-Source3
(48,85)

Disposable personal income in current dollars (Q)—
Source 1
(40,80)

Federal Government purchases of goods and services in current dollars (Q).—Source 1
(43,81)

340.

263.

225.

Disposable personal income in 1982 dollars (Q).—
Source 1
(40,80)

Federal government purchases of goods and services in 1982 dollars (Q).-Source 1
(43,81)

Index of average hourly earnings of production or
nonsupervisory workers on private nonagriculturat
payrolls (M).-Source 3
(49,87)

265.

Per capita disposable personal income in 1982 dollars <Q).-Sources 1 and 2
(40,80)

Federal Government purchases of goods and services as a percent of gross national product (Q) .—
Source I
(47,83)

341.

227.

index of real average hourly earnings of production
or nonsupervisory workers on private nonagricultural payrolls (M).-Source 3
(49,87)

230.

Personal consumption expenditures in current dollars (Q). -Source 1
(41,80)

266.

State and local government purchases of goods and
services in current dollars (Q).—Source 1
(43,81)

345.

W e i of average hourly compensation, all employees,
nonfarm business sector (Q).—Source 3
(49,87)

231.

Persona! consumption expenditures in 1982 dollars
(Q).-Source 1
(41,80)

267.

State and local government purchases of goods and
services in 1982 dollars (Q).—Source 1
(43,81)

346.

232.

Personal consumption expenditures in current dollars, durable goods (Q).—Source 1
(41,80)

268.

State and local government purchases of goods and
services as a percent of gross national product
(Q).-Source 1
(47,83)

Index of real average hourly compensation, all
employees, nonfarm business sector (Q).—Source
3

233.

Personal consumption expenditures in 1982 dol280.
lars, durable goods (Q).-Source 1
(41,80)

220.
223.
224.

(40,80)

235. Personal consumption expenditures as a percent of
gross national product (Q).—Source 1
(47,83)
236.

Persona! consumption expenditures in current dollars, nondurable goods (Q).—Source 1
(41,81)

237.

Persona! consumption expenditures in current dollars, services (Q).—Source I
(41,81)

238.

Personal consumption expenditures in 1982 dollars, nondurable goods (Q).—Source 1
(41,81)

239.

Personal consumption expenditures in 1982 dollars, services (Q).-Source 1
(41,81)

2 57

282.

Compensation of employees (Q).—Source 1

(45,82)

Proprietors' income with inventory valuation and
capita! consumption adjustments (Q).—Source

(Q).-Source 1

(42,81)

Gross private domestic fixed investment in current
(Q).-Sourcel
(42,81)




349. Negotiated wage and benefit decisions, average
changes over life of contract (Q).—Source 3 (50,88)

(45,82)

358. Index of output per hour, all persons, rtsnfarm business sector (Q).—Source 3

283. Proprietors' income with inventory valuation and
capital consumption adjustments as a percent of
national income (Q).—Source 1
(47,83)

370. Index of output per hour, all persons, business
sector (Q).—Source 3

284. Rental income of persons with capital consumption
adjustment (Q).-Sourcel
(45,82)

1I-C. Labor Force, Employment, and
Unemployment

1

285, Rental income of persons with capital consumption
adjustment as a percent of national income
—
Source 1

37. Number of persons unemployed (M).— Source 3

(47,83)

286. Corporate profits before tax with inventory valua240. Gross private domestic investment in curreni doltion and capital consumption adjustments (Q).—
lars (Q).-Source 1
(42,81)
Source 1
(45,82)
241. Gross private domestic investment in 1982 dollars
287. Corporate profits before tax with inventory valua242,

348. Negotiated wage and benefit decisions, average
first year changes (Q).-Source 3
(50,88)

(18,51,62,89)

441. Civilian labor force (M).—Sources

(51,89)

442. Civilian employment (M).—Source 3

(51,89)

444. Number unemployed, males 20 years and over
(51,89)
tion and capital consumption adjustments as a
(M).-Source3
percent of national income (Q).—Source 1
(47,83)
445. Number unemployed, females 20 years and over
(M).—Source3
(51,89)
288. Neimterest <Q).—Source 1
(45,82)

TITLES AND SOURCES OF SERSES-Continued
446. Ifember unemployed, both sexes 18-19 years of
age(M).-Source3
(51,89)
447. Number unemployed, full-time workers ( M ) . —
Source3
(51,89)
448. Number of persons employed part time for economic reasons (M).--Source 3
(51,89)
451. Civilian labor force participation rate, males 20
years and over (M).—Source 3
(51,89)
452. Civilian labor force participation rate, females 20
years and over (M).—Source 3
(51,89)
453. Civilian labor force participation rate, both sexes
16-19 years of age (M)-Source 3
(51,89)

Il-D. Government Activities
500. Federal Government surplus or deficit (Q).—Source
1
(52,90)
501. Federal government receipts (Q).—Source 1
(52,90)

570. Employment, defense products industries (M).—
Source 3; seasonal adjustment by Bureau of Economic Analysis
(55,91)
577. Defense Department military personnel on active
duty (EOM).—U.S. Department of Defense, Office
of the Assistant Secretary of Defense (Comptroller), Washington Headquarters Services, Directorate for Information Operations and Reports
(55,91)
578. Defense Department civilian personnel, direct fire env
ptoynsnt (EOM).—U.S. Department of Defense, Office
of the Assistant Secretary of Defense (Comptroller),
Washington Headquarters Services, Directorate for
Information Operations and Reports
(55,91)
580. Defense Department net outlays, military functions
and military assistance (M).—U.S. Department of
Defense, Office of the Assistant Secretary of Defense
(Comptroller), Directorate for Program and Financial Control; seasonal adjustment by Bureau of Economic Analysis
(54,91)
588. Manufacturers'
Source 2

defense products (M).—
(54,91)

502. Federal government expenditures (Q).—Source

1

(52,90)

602. Exports, excluding military aid shipments (M).—
Source 2
(56,92)

511. State and local government receipts (Q).—Source

604, Exports of domestic agricultural products (M).—
Source 2; seasonal adjustment by Bureau of Economic Analysis
(56,92)

(52,90)

512. State and local government expenditures (Q).-~
Source 1
(52,90)
517. Defense Department gross obligations Incurred
(Ml.—t/.S. Department of Defense, Office of the
Assistant Secretary of Defense (Comptroller), Directorate for Program and financial Control; seasonal
adjustment by Bureau of Economic Analysis
(53,90)
525. defense Department prime contract awards for work
performed in the United States (fVI).--U.S. Depart
men! of Defense, Office of the Assistant Secretary of
Defense (Comptroller), Washington Headquarters
Services, Directorate for Information Operations
and Reports; seasonal adjustment by Bureau of Economic Analysis
(53,90)

606. Exports of nonelectrical machinery (M).—Source
2; seasonal adjustment by Bureau of Economic
Analysis
(56,92)
612. Seneral imports <M).-Source 2

(56,92)

614. Imports of petroleum and petroleum products
(M).—Source 2; seasonal adjustment by Bureau of
Economic Analysis
(58,92)
616. Imports of automobiles and parts (M).—Source 2;
seasonal adjustment by Bureau ot Economic Analysis
(56,92)
618. Merchandise exports, adjusted, excluding military

(Q).~~Source 1

(5?,93)

620. Merchandise imports, adjusted, excluding military
543. Defense Department gross unpaid obligations
(Q)-Source 1
(57,93)
outstanding (EONS),—U.S. Department of Defense,
622. Balance on merchandise trade (Q).—Source 1
Office of the Assistant Secretary of Defense (Comptrol<5?,93)
ler), Directorate for Program and Financial Control; seasonal adjustment by Bureau of Economic 651, Income on U.S. investment abroad (Q).—Source
1
(57,93)
Analysis
(53,90)
548. Manufacturers' new orders,
products (M).-~ 652. Income on foreign investment in the United States
(Q).-Source 1
{57,93)
Source 2
(53,90)
557. W e i of industrial production, defense and space
equipment (M).—Source 4
(54,91)
559. Maniifactarers' inventories, defense products (£QM).
-Source 2
(54,91)
561. Manufacturers' unfilled orders, defense products
(E0M).~-Soufce2
(54,91)
564. Federal Government purchases of goods and services, national defense (Q).—Source 1
(55,91)
565. National defense purchases as a percent of gross
national product (Q).—Source 1
(55,91)




667. Balance on goods and services (Q).—Source 1
(57,93)
668. Exports of goods and services, excluding transfers
under US, mrtffary grants (Q)-Source 1
(57,93)
669. Imports of goods and services (Q),—Source 1

(57,93)

Il-F, Internationa) Comparisons
19. United States, index of stock prices, 500 common
stocks ( M ) . —Standard & Poor's Corporation
{15, t

320. United States, consumer price index for all urban
consumers (M).-Source 3
(49,59,84,95)
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 ot industrial production (M).-fetitut
National de la Statistiqoe et des Etudes Economiques
(Paris)
(58,94)
727. Italy, index of industrial production (M).—Istituto
Centrale di Statistica (Rome)
728. Japan, index of industrial production (N
of International Trade am! Industry (Tokyo)

LI—E. U.S. International Transactions

510. State and local government surplus or deficit (Q).—
Source 1
(52,90)

2

47. United States, index oi industrial production (M).—
Source 4
(14,20,39,58,63,78,34)

-Ministry
(58,94)

732. United Kingdom, consumer price index (M).—
Department of Employment (London); percent
changes seasonally adjusted by Bureau of Economic
Analysis
(59,95)
733. Canada, consumer price index (M).—Statistics
Canada (Ottawa); percent changes seasonally adjusted
by Bureau of Economic Analysis
(59,96)
735. West Germany, consumer price index
Statistisches Bundesamt (Wiesbaden);
changes seasonally adjusted by Bureau oi
ic Analysis

(M).—
percent
Econom(59,95)

736. France, consumer price index (M).—Institut National
de la Statistique et des Etudes Economiques (Paris);
percent changes seasonally adjusted by Bureau of
Economic Analysis
(59,95)
737. Italy, consumer price index (M).—Istituto Centrale di
Statistica (Rome); percent changes seasonally adjusted by Bureau of Economic Analysis
(59,96)
738. Japan, consumer price index (M).—Bureau of Statistics, Office of the Prime Minister (Tokyo); percent
changes seasonally adjusted by Bureau ef Economic
Analysis
(59,95)
742. united Kingdom, index of stock prices (M).—Central
Statistical Office (London)
(59,96)
743. Canada, index of stock prices (M).—Toronto Stock
Exchange (Toronto)
(59,96)
745. West Germany, index of stock prices ( M ) . —
Statistisches Bundesamt (Wiesbaden)
(59,96)
746. France, index of stock prices (M).—Institut National
de la Statistique et des Etudes Economises (Paris)

(59,96)
747. Italy, index of stock prices (M).—Banca dltalia
(Rome)
(59,96)
748. Japan, index of stock prices (M).—Bank of Japan
(Tokyo)
(59,96)


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