Full text of Business Conditions Digest : September 1979
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INESS
.11'
ST
R 1979
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U.S. DEPARTMENT OF COMMERCE
Juanita M. Kreps, Secretary
Courtenay M. Slater, Chief Economist for the Department of Commerce
BUREAU OF ECONOMIC ANALYSIS
George Jaszi, Director
Allan H. Young, Deputy Director
John E. Cremeans, Associate Director for National
Analysis and Projections
Feliks Tamm, Editor
This report is prepared in the Statistical Indicators Division, Bureau of Economic Analysis.
Technical staff and their responsibilities for the publication areBarry A. Beckman—Technical supervision and review
Morton Somer—Selection of seasonal adjustment methods
Betty F. Tunstall—Collection and compilation of basic data.
Telephone (202) 523-0541
The cooperation of various government and private agencies which provide data is gratefully
acknowledged. Agencies furnishing data are indicated in the list of series and sources at the
back of this report.
This publication is prepared under the general guidance of a technical committee under the
auspices of the Office of Federal Statistical Policy and Standards. The committee consists of
the following persons:
Beatrice N. Vaccara, Chairman, U.S. Department of the Treasury
John E. Cremeans, Bureau of Economic Analysis, U.S. Department of Commerce
Joseph W. Duncan, Office of Federal Statistical Policy and Standards
Lyle E. Gramley, Council of Economic Advisers, Executive Office of the President
Ronald E. Kutscher, Bureau of Labor Statistics, U.S. Department of Labor
J. Cortland Peret, Board of Governors of the Federal Reserve System
ABOUT THIS REPORT
BUSINESS CONDITIONS DIGEST (BCD) provides
a monthly look at many of the economic time
series found most useful by business analysts
and forecasters.
The original BCD, which began publication
in 1961 under the title Business Cycle Developments, emphasized the cyclical indicators approach to the analysis of business conditions
and prospects. The report's contents were based
largely on the list of leading, roughly coincident,
and lagging indicators maintained by the
National Bureau of Economic Research, Inc.
In 1968, BCD was expanded to increase its
usefulness to analysts using other approaches to
business conditions analysis. Principal additions
to the report were series from the national income and product accounts and series based on
surveys of businessmen's and consumers' anticipations and intentions. The composite indexes were added at that time, and the report's
present title was adopted.
The dominant feature of the current BCD is
:he cyclical indicators section, in which each
ousiness cycle indicator is assigned a three-way
timing classification according to its behavior at
peaks, at troughs, and at all turns. This section is
supplemented by a section containing other important economic measures. The method of
presentation is explained in the introductory text
which begins on page 1.
Annual subscription price: $40 domestic, $50
foreign. Single copy price: $3.50 domestic, $4.50
foreign. For information concerning foreign airmail delivery, available at an additional charge,
vA,r;+ Q tho <;,,nprjntpnr|pnj- o f Documents (address
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 theii
cyclical behavior, but they also have prover
useful in forecasting, measuring, and in
terpreting short-term fluctuations in aggregate
economic activity.
Other Economic Measures provide additional in
formation for the evaluation of current busines
conditions and prospects. They include selecte<
components of the national income and produc
accounts; measures of prices, wages, an<
productivity; measures of the labor force
employment, and unemployment; economi
data on Federal, State, and local government ac
tivities; measures of U.S. international transac
tions; and selected economic comparisons wit
major foreign countries.
follows), enclosing a copy of your address labe
Make checks payable to the Superintendent c
Documents. Send to the U.S. Governmen
Printing Office, Washington, D.C. 20402.
BUSINESS CONDITIONS DIGEST
New Features and Changes for This Issue
BCII
iii
METHOD OF PRESENTATION
Seasonal Adjustments
MCD Moving Averages
Reference Turning Dates
Part I. Cyclical Indicators
Part II. Other Important Economic Measures
How To Read Charts
How To Locate a Series
Summary of Recent Data and Current Changes. . . . . . . .
1
1
1
1
4
5
5
6
SEPTEMBER 1979
Data Through August
Volume 19, Number 9
PART I.
CYCLICAL INDICATORS
AL
A2
A3
A4
COMPOSITE INDEXES AND
THEIR COMPONENTS
Composite Indexes
Leading Index Components
Coincident Index Components
Lagging Index Components
Chart
Table
10
12
14
15
60
—
—
—
16
19
21
23
26
28
31
61
63
64
65
68
69
71
36
—
39
74
77
_
CYCLICAL INDICATORS
BY ECONOMIC PROCESS
B1
B2
B3
B4
B5_
~BB_
~B7
Employment and Unemployment
Production and Income
Consumption, Trade, Orders, and Deliveries
Fixed Capital Investment
Inventories and Inventory Investment
Prices, Costs, and Profits
Money and Credit
.
DIFFUSION INDEXES
AND RATES OF CHANGE
C2
C3
Diffusion Indexes
Selected Diffusion Index Components
Rates of Change
The Secretary of Commerce has determined that the publication of this periodical is necessary in the transac-
tion offor
theFRASER
public business required by law of this Department. Use of funds for printing this periodical has
Digitized
been approved by the Director of the Office of Management and Budget through September 1, 1980.
!!€!»
II.
IMPORTANT
ECONOMIC MEASURES
NATIONAL INCOME
AND
i A1 j
j A2 j
L-A3.J
| A4 J
| A5 1
[_A6_i
[ A7 J
I A8j
PRODUCT
Chart
Table
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
LABOR hORCL EMPLOYMENT,
AND UNEMPLOYMENT
Civilian Labor Force and Major Components
51
89
52
53
90
90
56
57
92
93
58
59
59
94
95
96
GNP and Personal Income
Personal Consumption Expenditures
Gross Private Domestic Investment
Government Purchases of Goods and Services
Foreign Trade
National Income and Its Components
Saving
Shares of GNP and National Income
PRICES, WAGES,
AND PRODUCTIVITY
| B1 ;
; B_2 ;
C1 i
WttBtKSatf^
D1 i
D2 j
GOVERNMENT ACTIVH iF£
Receipts and Expenditures
Defense Indicators
U.S. INTERNATIONAL TRANSACTIONS
' E1 i
E2 i
Merchandise Trade
Goods and Services Movements
t^l E^NAT«O'\/--a. OOIVPALISONS
F1 j
F2 i
F3 <
Industrial Production
Consumer Prices
Stock Prices
HI.
A. MCD and Related Measures of Variability (April 1978 issue)
QCD and Related Measures of Variability (April 1978 issue)
B. Current Adjustment Factors (July 1979 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: 1854 to 1975 (July 1979 issue)
F. Specific Peak and Trough Dates for Selected Business Indicators (October 1978 issue)
G. Experimental Data and Analyses
Alphabetical Index—Series Finding Guide
Titles and Sources of Series
104
110
114
Readers are Invited to submit comments and
suggestions concerning this publication.
Address them to Feliks Tamm, Chief, Statistical
Indicators Division, Bureau of Economic Analysis,
U.S. Department of Commerce, Washington, D.C. 20230
NEW FEATURES
AND CHANGES
FOR THIS ISSUE
A limited number of
changes are made from
time to time to incorporate recent findings of economic
research, newly available time series, and
revisions made by
source agencies in
concept, composition,
Changes in this issue are as follows:
1. The series on current-dollar manufacturing and trade
sales and inventories (series 31, 56, and 71) have been
revised by the source agency for the period 1967 to date.
These revisions incorporate recent revisions in data for manufacturers' shipments (sales) and inventories.
(See "New
Features and Changes For This Issue,11 item 3, of the August
1979 issue.)
Further information concerning these revisions may be
obtained from the U.S. Department of Commerce, Bureau of the
Census, Business Division.
comparability, coverage,
seasonal adjustment
methods, benchmark
data, etc. Changes may
result in revisions of
data, additions or
deletions of series,
changes in placement of
series in relation to
other series, changes
in composition of
indexes, etc.
2. The series on Secondary market yields on FHA mortgages (series 118) has been revised by the source agency for
the period beginning January 1, 1977. (In BCD., first-ofmonth yields are shown as end-of-month yields for the
previous month.) The revised data are based on an assumed
prepayment of mortgages in 12 years instead of 15 years,
Further information concerning this revision may be
obtained from the U.S. Department of Housing and Urban
Development, Office of Financial Management, Financial
Analysis Division.
3. Appendix C contains historical data for series 6-8,
16, 18, 19, 22, 26, 30, 34, 35, 49, 55, 64, 68, 79-84,
86-89, 500-502, 916, 966, and 968,
4. Appendix G contains cyclical comparisons for series
12, 29, 36, 57, 64, and 84.
The October issue of BUSINESS CONDITIONS DIGEST is scheduled
for release on November 1.
BEA PROJECTS
for economic
analysis
BUSINESS CONDITIONS DIGEST A monthly report for analyzing economic fluctuations over a short span of years.
This report brings together many of the economic time series found most useful by
business analysts and forecasters. The dominant feature is the cyclical indicators
section in which approximately 110 business cycle indicators are each assigned a
three-way timing classification according to their cyclical behavior at peaks, at
troughs, and at all turns. This section also contains other valuable aids for the
analysis of business conditions and prospects, such as composite indexes of leading,
coincident, and lagging indicators and various diffusion indexes. A second section
contains other important economic measures such as prices, wages, productivity,
government activities, U.S. international transactions, and international comparisons.
Data are presented in charts and tables. Appendixes provide historical data, series
descriptions, seasonal adjustment factors, and measures of variability. A computer
tape containing data for most of the series is available for purchase.
LONG TERM ECONOMIC GROWTH A report for the study of economic
trends over a long span of years, 1860-1970.
This report has been developed from available statistics to provide a comprehensive,
long-range view of the U.S. economy. It is a basic research document for economists,
historians, investors, teachers, and students. It brings together under one cover, in
meaningful and convenient form, the complete statistical basis for a study of longterm economic trends. A computer tape file of the time series included in the report
is available for purchase.
COMPUTER PROGRAMS FOR TIME SERIES ANALYSIS
The source
statements for FORTRAN IV programs used by BEA in its analysis of
time series are available on a single computer tape.
SEASONAL ADJUSTMENT PROGRAMS.-Two variants of the Census computer
program for measuring and analyzing seasonal, trading-day, cyclical, and irregular
fluctuations. They are particularly useful in analyzing economic fluctuations which
take place within a year. The X-11 variant is used for adjusting monthly data and
the X-11 Q for quarterly data. These programs make additive as well as multiplicative
adjustments and compute many summary and analytical measures.
DIFFUSION INDEX PROGRAM.-A computer program for computing diffusion
indexes, cumulated diffusion indexes, and summary measures of the properties of
each index.
SURVEY OF CURRENT BUSINESS
current economic developments.
A mon
thly report for analyzing
This report provides a useful combination of current data for more than 2,500
statistical series and significant articles analyzing economic developments. These
data and analyses include such areas as the national income and product accounts,
the balance of payments accounts, plant and equipment expenditures, regional
personal income, and the input-output accounts.
A
BUSINESS STATISTICS
biennial reference volume containing statistical series reported currently in the Survey of Current Business.
This report provides historical data back to 1947 for nearly 2,500 time series. The
series are accompanied by concise descriptions as to their composition, methods of
compilation, comparability, revisions, and availability. Also listed are the names and
addresses of organizations which provide the basic data for the series.
METHOD OF PRESENTATION
This report is organized into two major parts.
Part I, Cyclical Indicators, includes about 150 time
series which have been found to conform well to
broad fluctuations in comprehensive measures of
economic activity. Nearly three-fourths of these are
individual indicators, the rest are related analytical
measures: Composite indexes, diffusion indexes,
and rates of change. Part II, Other Important
Economic Measures, covers over 140 series which
are valuable to business analysts and forecasters
but which do not conform well enough to business
cycles to qualify as cyclical indicators. (There are a
few exceptions: Four series which are included in
part i are also shown in part II to complete the
systematic presentation of certain sets of data,
such as real GNP and unemployment.) The largest
section of part II consists of quarterly series from
the national income and product accounts; other
sections relate to prices, labor force, government
and defense-related activities, and international
transactions and comparisons.
The two parts are further divided into sections
(see table of contents), and each of these sections
is described briefly in this introduction. Data are
shown both in charts and in tables. Most charts
begin with 1955, but those for the composite
indexes and their components (part I, section A)
begin with 1948. and a few charts use a two-panel
format which covers only the period since 1968.
Except for section E in part II, charts contain
shading which indicates periods of recession in
general business activity, The tables contain data
for only the last few years. The historical data for
the various time series are contained in the 1977
HamihiHtk <>l Cyclical Indicator*.
In addition to the charts and tables described
above, each issue contains a summary table which
shows the current behavior of many of the series.
Appendixes present seasonal adjustment factors,
measures of variability, specific cycle turning
dates, cyclical comparison charts, and other
information of analytical interest. An index appears
at the back of each issue, it should be noted that
the series numbers used are for identification
purposes only and do not r e f l e c t precise
r e l a t i o n s h i p s or order. However, ail series
considered as cyclical indicators are numbered in
the range 1 to 199.
Seasonal Adjustments
Adjustments for average seasonal fluctuations
are often necessary to bring out the underlying
trends of time series. Such adjustments allow for
the effects of repetitive intrayear variations
resulting primarily from normal differences in
weather conditions and from various institutional
arrangements. Variations attributable to holidays
are usually accounted for by the seasonal
adjustment
process; however, a separate holiday
adjustment is occasionally required for holidays
with variable dates, such as Easter. An additional
adjustment is sometimes necessary for series
which contain considerable variation due to the
number of working or trading days in each month.
As used in this report, the term "seasonal
adjustment" includes trading-day and holiday
adjustments where they have been made.
Most of the series in this report are presented in
seasonally adjusted form and, in most cases, these
are the official figures released by the source
agencies. However, for the special purposes of this
report, a number of series not ordinarily published
in seasonally adjusted form are shown here on a
seasonally adjusted basis.
MCD Moving Averages
Month-to-month changes in a series are often
dominated by erratic movements. MCD (months for
cyclical dominance) is an estimate of the appropriate span over which to observe cyclical
movements in a monthly series. (See appendix A.)
It is the smallest span of months for which the
average change in the cyclical factor is greater than
that in the irregular factor. The more erratic a
series is, the larger the MCD will be; thus, MCD is 1
for the smoothest series and 6 for the most erratic.
MCD moving averages (that is, moving averages of
the period equal to MCD) tend to have about the
same degree of smoothness for all series. Thus, a
5-term moving average of a series with an MCD of 5
will show its cyclical movements about as clearly
as the seasonally adjusted data for a series with an
MCD of 1.
The charts in this report generally include
centered MCD moving averages for those series
with an MCD greater than 4. The seasonally
adjusted data are also plotted to indicate their
variation about the moving averages and to provide
observations for the most recent months.
Part I. CYCLICAL INDICATORS
Business cycles have been defined as sequences
of expansion and contraction in various economic
processes that show up as major fluctuations in aggregate economic activity—that is, in comprehensive measures of production, employment,
income, and trade. While recurrent and pervasive,
business cycles of historical experience have been
definitely nonperiodic and have varied greatly in
duration and intensity, reflecting changes in
economic systems, conditions, policies, and
outside disturbances.
One of the techniques developed in business
cycle research and widely used as a tool for analyzing current economic conditions and prospects is
the cyclical indicators approach. This approach
identifies certain economic time series as tending
to lead, coincide with or lag behind the broad
movements in aggregate economic activity. Such
indicators have been selected and analyzed by
NBER in a series of studies published between
1938 and 1967. During the 1972-75 period, a new
comprehensive review of cyclical indicators was
carried out by the Bureau of Economic Analysis
(BEA) with the cooperation of the NBER research
staff. The present format and content of part I of
BCD are based on the results of that study.
Section A. Composite Indexes and
Their Components
All cyclical indicators have been evaluated according to six major characteristics: Economic
significance, statistical adequacy, consistency of
timing at business cycle peaks and troughs,
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
Reference Turning Dates
November 1975 issues of BCD) The resulting
scores relate to cyclical behavior of the series
The historical business cycle turning dates used during the period 1947-70. This analysis produced
in this report are those designated by the National a new list of indicators classified by economic
Bureau of Economic Research, Inc. (NBER). They process and typical timing at business cycle peaks
mark the approximate dates when, according to and troughs. (See tables on page 2 and text below
NBER, aggregate economic activity reached its relating to section B.)
This information, particularly the scores relating
cyclical high or low levels. As a matter of general
practice, neither new reference turning dates nor to consistency of timing, served as a basis for the
the shading for recessions will be entered on the selection of series to be included in the composite
charts until after both the new reference peak and indexes. The indexes incorporate the best-scoring
the new reference trough bounding the shaded area series from many different economic-process
groups and combine those with similar timing
have been designated.
The historical reference turning dates are subject behavior, using their overall performance scores as
to periodic review by NBER and on occasion are weights. Because they use series of historically
changed as a result of revisions in important tested usefulness and given timing characteristics
economic time series. The dates shown in this pub- (for example, leading at both peaks and troughs),
lication for the 1948-1970 time period are those with diversified economic coverage and a minimum
determined by a 1974 review. The turning dates for of duplication, composite indexes give more
the 1973-1975 period are detailed in NBER's 1976 reliable signals over time than do any of the
Annual Report.
individual indicators. Furthermore, much of the
A. Timing at Business Cycle Peaks
Economic
Process
'••-
Cyclical \
Timing
LEADING (L)
INDICATORS
(62 series)
j
ROUGHLY
COINCI DENT(C)
INDICATORS ;
(23 series)
1.
EMPLOYMENT
AND
UNEMPLOYMENT
(18 series)
II.
PRODUCTION
AND
INCOME
(10 series)
III.
CONSUMPTION,
TRADE,
ORDERS, AND
DELIVERIES
(13 series)
IV.
FIXED
CAPITAL
INVESTMENT
(18 series)
V.
INVENTORIES
AND
INVENTORY
INVESTMENT
(9 series)
VI.
PRICES, COSTS,
AND PROFITS
(17 series)
VII.
MONEY
AND CREDIT
(26 series)
Marginal
employment
adjustments
(6 series)
Job vacancies
(2 series)
Comprehensive
employment
(1 series)
Comprehensive
unemployment
(3 series)
Capacity
utilization
(2 series)
New and
unfilled orders
and deliveries
(6 series)
Consumption
(2 series)
Formation of
business
enterprises
(2 series)
Business
investment
commitments
(5 series)
Residential
construction
(3 series)
Inventory
investment
(4 series)
Inventories on
hand and on
order
(1 series)
Stock prices
(1 series)
Commodity
prices
(1 series)
Profits and
profit
margins
(7 series)
Cash flows
(2 series)
Money flows
(3 series)
Real money
supply
(2 series)
Credit flows
(4 series)
Credit
difficulties
(2 series)
Bank reserves
(2 series)
Interest rates
(1 series)
Comprehensive
employment
(1 series)
Comprehensive
output and
real income
(4 series)
Industrial
production
(4 series)
j Duration of
unemployment
LAGGING (Lg) *
(2 series)
INDICATORS 1
(18 series)
\
t
v"
"
Comprehensive
employment
(3 series)
Business
investment
expenditures
(1 series)
__ .,_
I
i
CyclicalX,
Timing
LEADING (L)
i
INDICATORS
(47 series)
i
'
Business
investment
commitments
(1 series)
Trade
(1 series)
j
I
Inventories on
hand and on
order
(4 series)
PRODUCTION
AND
INCOME
(10 series)
EMPLOYMENT
AND
UNEMPLOYMENT
(18 series)
Marginal
employment
adjustments
(3 series)
Marginal
employment
adjustments
(2 series)
Comprehensive
employment
(4 series)
'
j
1
j
Industrial
production
(1 series)
j Comprehensive
!
output and
;
real income
!
(4 series)
j Industrial
j
production
!
(3 series)
j Capacity
i
utilization
i
(2 series)
V.
INVENTORIES
III
CONSUMPTION
TRADE,
ORDERS, AND
DELIVERIES
(13 series)
IV.
FIXED
CAPITAL
INVESTMENT
(18 series)
New and unfilled
orders and
deliveries
(5 series)
Consumption
and trade
(4 series)
Formation of
business
enterprises
(2 series)
Business
investment
commitments
(4 series)
Residential
construction
(3 series)
!
1
i
!
1
j
;
;
Business
investment
commitments
(1 series)
i
i
|
j
j
:
AND
INVENTORY
INVESTMENT
(9 series)
Commodity
prices
(1 series)
Profit share
(1 series)
Interest rates
(1 series)
VI.
PRICES, COSTS
AND PROFITS
(17 series)
VII.
MONEY
ANDCREDIT
(26 series)
;
Stock prices
(1 series)
Commodity
prices
(2 series)
Profits and
profit margins
(6 series)
Cash flows
(2 series)
Inventory
investment
(4 series)
Money flows
(2 series)
Real money
supply
(2 series)
Credit flows
(4 series)
Credit
difficulties
(2 series)
:
;
;
r~~~ ' — - — - •?
Money flow
(1 series)
Velocity of
money
(1 series)
Profits
(2 series)
i
j
j
Unfilled orders
(1 series)
r"~
"'
Business
investment
commitments
(2 series)
Business
investment
expenditures
(6 series)
Inventories on
hand and on
order
(5 series)
i
"
Velocity of
money
(1 series)
Bank reserves
(1 series)
Interest rates
(8 series)
Outstanding debt
(3 series)
Unit labor costs
and labor share
(4 series)
i
:
i
"
TIMING
UNCLASSIFIED
1 nterest rates
(4 series)
Outstanding
debt
(3 series)
:
Consumption
and trade
(3 series)
.
Marginal
employment
adjustments
(1 series)
I Job vacancies
(2 series)
LAGGING (Lg) i
INDICATORS
! Comprehensive
employment
(40 series)
j
(1 series)
j Comprehensive
*
and duration
of
unemploymenl
(5 series)
(U)
(1 series)
Unit labor costs
and labor share
(4 series)
i
i
!
i
i
i
1
i
I
ROUGHLY
|
COINCIDENT(CJ
INDICATORS i
(23 series)
!
:
Velocity of
money
(2 series)
Interest rates
(2 series)
_. . _i
B. Timing at Business Cycle Troughs
!
*] "
i ii.
Economic • 1.
\ Process
\.
Backlog of
investment
commitments
(1 series)
i
Business
i
investment
expenditures
(5 series)
i
1
j
TIMING
i
UNCLASSIFIED!
(U)
i
(8 series)
j
i
i
Consumption
and trade
(4 series)
i
~
'
"~~
~""~j
!
:
~
~
Bank reserves
(1 series)
independent measurement error and other "noise"
in the included series are smoothed out in the
index as a whole. The indexes include only monthly
series that are acceptable in terms of relatively
prompt availability and reasonable accuracy.
The main composite indexes are distinguished by
their cyclical timing. Thus, there is an index of
leading indicators, series which historically reached
their cyclical peaks and troughs earlier than the
corresponding business cycle turns. There is an
index of roughly coincident indicators, consisting
of series which historically reached their turning
points at about the same time as the general
economy, and an index of lagging indicators, which
includes series that typically reached their peaks
and troughs later than the corresponding business
cycle turns.
The leading index contains series with long as
well as short leads, but each series leads on the
average over time and shows a frequency of leads
at the individual turns exceeding that attributable
to chance, given the historical distribution of
cyclical timing. (An analogous statement applies to
the components of the lagging index.) Since 1948,
leads were generally more frequent and longer at
peaks than at troughs of business cycles, while lags
were generally more frequent and longer at troughs
than at peaks. The adopted system of scoring and
classifying the indicators takes into account these
well-established d i f f e r e n c e s in timing.
Consequently, rough coincidences include short
leads (-) and lags ( + ) as well as exact
coincidences (0). (For monthly series, the range is
from -3 through +1 at peaks and from -1 through
+ 3 at troughs, where minus denotes leads and
plus denotes lags in months.)
For purposes of constructing a composite index,
each component series is standardized: The monthto-month percent changes in a given series are
divided by the long-run average (without regard to
sign) of those changes. Thus, the more volatile
series are prevented from dominating the index.
The coincident index is calculated so that its longterm trend (since 1948) equals the average of the
trends of its four components. This trend, which is
similar to that of GNP in constant dollars, can be
viewed as a linear approximation to the secular
movement (at an average growth rate) in aggregate
economic activity. The indexes of leading and lagging indicators have been adjusted so that both
their trends and their average month-to-month
percent changes (without regard to sign) are approximately equal to those of the coincident index.
(For a more detailed description of the method of
constructing the composite indexes, see the 1977
Handbook of Cyclical Indicators.)
In addition to these principal composite indexes,
differentiated according to cyclical timing, there
are five indexes based on leading indicators which
have been grouped by economic process. Taken
together, these additional indexes include all 12
component series of the overall leading index, plus
a few related series. Also shown in this section is
the ratio of the index of roughly coincident
indicators to the index of lagging indicators, a
series known to have a useful pattern of early
cyclical timing. Numbers entered on the charts of
the composite indexes show the length, in months,
of leads (-) and lags ( + ) at each of the reference
turning dates covered.
The next set of data consists of series included
in the principal composite indexes. These are the
12 components of the leading index, the 4
components of the coincident index, and the 6
components of the lagging index. Following the title
of each series, its typical timing is identified by
three letter symbols in a small box. The first of
these letters refers to the timing of the given
indicator at business cycle peaks, the second to its
timing at business cycle troughs, and the third to
its timing at all turns, i.e., at peaks and troughs
combined. "L" denotes a tendency to lead, "C" a
tendency to roughly coincide with the business
cycle turns (as represented by the NBERdesignated reference dates), and "Lg" a tendency
to lag. Since these series have been selected for the
consistency of their timing at both peaks and
troughs, all components of the leading index are
denoted "L,L,L," all components of the coincident
index "C,C,C," and all components of the lagging
index "Lg,Lg,l_g." 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 post-1970 period
can be determined by inspection of the charts
where the 1973-75 recession is shaded according
to the dates of the NBER reference cycle
chronology.
Section B. Cyclical Indicators by Economic Process
This section covers 111 individual time series,
i n c l u d i n g the 22 i n d i c a t o r s used in the
construction of the composite indexes. The peak
and trough timing classifications are shown on the
charts in the same manner as described above, but
this section includes series with different timing at
peaks and at troughs, as well as series where the
timing is not sufficiently consistent to be classified
as either L,C, or Lg according to the probabilistic
measures and scoring criteria adopted. Such series
are labeled U, i.e., unclassified as to timing at
turning points of the given type. Eight series are
unclassified at peaks, one series at troughs, and 19
series at all turns (of the 19, 15 have definite but
different timing at peaks and at troughs). No series
that is classified as U both at peaks and at troughs
is included in the list of cyclical indicators.
The classification scheme which groups the
indicators of this section by economic process and
cyclical timing is summarized in the two
tabulations on page 2. Cross-classification A is
based on the observed behavior of the series at five
business cycle peaks (November '48, July '53,
August '57, April '60, and December '69); crossclassification B, on their behavior at five business
cycle troughs (October '49, May '54, April '58,
February '61, and November '70). Each tabulation
distinguishes seven major economic processes and
four types of cyclical timing. The titles in the cells
identify subgroups of the given economic process
with the given timing characteristic. The number of
series in each such group is given in parentheses
following the title. Complete information on how
individual indicators are classified by timing at
peaks, troughs, and all turns, along with selected
measures and scores, is provided in the 1977
Handbook of Cyclical Indicators.
Section C. Diffusion Indexes and Rates of Change
Many series in this report are aggregates
compiled from numerous components. How the
individual components of an aggregate move over a
given timespan is summarized by a diffusion index
which indicates the percentage of components that
are rising (with half of the unchanged components
considered rising). Cyclical changes in these
diffusion indexes tend to lead those of the
corresponding aggregates. Since diffusion indexes
are highly erratic, they are computed from changes
measured over 6- or 9-month (or 3- or 4-quarter)
spans, as well as 1-month (or 1-quarter) spans.
Longer spans help to highlight the trends underlying the shorter-term fluctuations. Diffusion indexes
are shown for the component series included in
each of the three composite indexes and for the
components of some of the aggregate series shown
in section B.
Diffusion measures can be derived not only from
actual data but also from surveys of anticipations
or intentions. Indexes based on responses of
business executives about their plans and
expectations for several operating variables are
presented, along with the corresponding indexes
based on actual data, as the last set of diffusion
series.
This section also records rates of change for the
three composite indexes (leading, coincident, and
lagging) and for four indicators of aggregate
economic activity: GNP in constant dollars
(quarterly), industrial production, employee hours
in nonagricultural establishments, and personal
income less transfers in constant dollars. Rates of
change are shown for 1- and 3-month spans or for
1-quarter spans.
Although movements in diffusion indexes and in
rates of change for the same aggregates are
generally positively correlated, these two measures
present information about two related but distinct
aspects of economic change. Diffusion indexes
measure the prevailing direction or scope of
change, while rates of change measure the degree
as well as the overall direction. As is the case for
diffusion indexes, cyclical movements in the rates
of change tend to lead those of the corresponding
indexes or aggregates, and thus, they tend to lead
at the business cycle turns as well.
! ; ari h. OTHER
MEASURES
Gross private domestic investment (A3) is fixed Section C. Labor Force, Employment, and
capital goods purchased by private business and Unemployment
nonprofit institutions and the value of the change
This section contains measures of the civilian
This part is divided into six sections which cover in the physical volume of inventories held by labor force and its major components: Total
private
business.
The
former
include
all
private
a wide range of quarterly and monthly time series
numbers of employed and unemployed persons.
measuring various aspects of economic activity. purchases of dwellings, whether purchased for The number of unemployed is subdivided into
Some of these series are very comprehensive, tenant or owner occupancy. Net purchases of used selected categories defined by sex, age, and class
pertaining to the U..S. economy as a whole, others goods are also included.
Government purchases of goods and services of worker. Also included are data on participation
have to do with particular sectors or markets, and
(A4)
is the compensation of government employees rates for a few principal segments of the labor
still others relate to U.S. international transactions
force.
or to selected foreign countries. The represented and purchases from business and from abroad. It
v a r i a b l e s include incomes, outputs, and excludes transfer payments, interest paid by Section D. Government Activities
expenditures; prices, earnings, and productivity; government, and subsidies. It includes gross
Receipts, expenditures, and their balance (surl a b o r r e s o u r c e s ; g o v e r n m e n t r e c e i p t s , investment by government enterprises but excludes
expenditures, and defense-related activities; ex- their current outlays. It includes net purchases of plus or deficit) are shown quarterly on two levels:
ports and imports; and selected indicators for a few used goods and excludes sales and purchases of (1) Federal Government and (2) State and local
land and financial assets.
government. Also shown is a selection of series
key foreign countries.
Net exports of goods and services (A5) is exports from the discontinued Defense Indicators,
less imports of goods and services. Exports are part These series measure defense activities which
Section A. National Income and Product
of the national production; imports are not, but are influence short-term changes in the national
The national income and product accounts,
included in the components of GNP and are economy. Included are series relating to
compiled by BEA, summarize both receipts and
t h e r e f o r e d e d u c t e d . More detail on U.S. obligations, contracts, orders, production,
final expenditures for the personal, business,
international transactions is provided in section E. shipments, inventories, outlays, and employment.
foreign, and government sectors of the economy.
National income (A6) is the incomes that These series are grouped according to the time at
Section Al shows the gross national product,
originate in the production of goods and services which the activities they measure occur in the
final sales, and personal and disposable personal attributable to labor and property supplied by
defense order-production-delivery process. Series
income. The four major components of the gross
residents of the United States. Thus, it measures measuring activities which usually precede pron a t i o n a l p r o d u c t — p e r s o n a l c o n s u m p t i o n the factor costs of the goods and services production, such as contract awards and new orders,
expenditures, gross private domestic investment, duced. It consists of the compensation of
are classified as "advance measures of defense
government purchases of goods and services, and
employees, proprietors' income, rental income of activity." Series measuring activities which tend to
net exports of goods and services—are presented in
persons, corporate profits, and net interest.
coincide with production, such as employment, and
sections A2 through A5. Most of the series in
Saving (A7) is the difference between income activities which usually follow production, such as
section A are presented in current as well as and expenditures during an accounting period.
shipments, are classified as "intermediate and final
constant dollars. There are also a few per capita Total gross saving includes personal saving,
measures of defense activity."
series. The national income and product accounts,
business saving (mainly undistributed corporate
briefly defined below, are described more fully in
profits and capital consumption allowances), and Section E. U.S. International Transactions
the Survey of Current Business, Part I, government surplus or deficit.
January 1976.
This group includes monthly series on exports
Shares of GNP and national income (A8).—The
Gross national product (GNP) is the market m a j o r e x p e n d i t u r e c o m p o n e n t s o f G N P (excluding military aid) and general imports, plus a
value of final goods and services produced by the (consumption, investment, etc.) are expressed as few selected components of these aggregates. Also
labor and property supplied by residents of the percentages of GNP, and the major income shown are the balances between receipts and
United States, before deduction of allowances for components of national income (compensation of expenditures for goods and services, merchandise,
the consumption of fixed capital goods. It is the employees, corporate profits, etc.) are expressed as and investment income.
most comprehensive measure of aggregate percentages of national income.
Section F. International Comparisons
economic output. Final sales is GNP less change in
business inventories.
Personal income is the income received by
This section is designed to facilitate a quick
persons (individuals, owners of unincorporated Section B. Prices, Wages, and Productivity
review of basic economic conditions in six of the
businesses, nonprofit institutions, private trust
nations with which we have important trade
funds, and private noninsured welfare funds) from
The important data on price movements include relationships. The U.S. business cycle shading has
all sources. It is the sum of wage and salary the monthly consumer and wholesale price indexes been omitted from these charts. Data on industrial
disbursements, other labor income, proprietors' and their major components. Based largely on production, consumer prices, and stock prices for
income, rental income of persons, dividends, these series are the quarterly price indexes from Canada, the United Kingdom, France, West Gerpersonal interest income, and transfer payments, the national income and product accounts, notably many, Japan, and Italy are compared with the corless personal contributions for social insurance.
the GNP implicit price deflator (with weights responding U.S. series. Also included is an inDisposable personal income is the personal reflecting the changing proportions of different dustrial production index for the European
income available for spending or saving. It consists expenditure categories in GNP) and the fixed- countries in the Organization for Economic
of personal income less personal taxes and nontax weighted price index for the gross business prod- Cooperation and Development (OECD). The inpayments to government.
uct. Data on both levels and percent changes are dustrial production series provide cyclically sensitive output measures for large parts of the
Personal consumption expenditures (A2) is presented for the period since 1968.
The group of series on wages and productivity economies covered. Changes in consumer price ingoods and services purchased by individuals,
operating expenses of nonprofit institutions, and consists of data on average hourly earnings and dexes (plotted for the period since 1968) provide
the value of food, fuel, clothing, rent of dwellings, average hourly compensation (including earnings important measures of the rates of inflation in the
and financial services received in kind by in- and other benefits) in current and constant dollars, major industrialized countries. Stock prices (also
dividuals. Net purchases of used goods are also in- output per hour of work in the business sector, and shown beginning in 1968) tend to be significant as
rates of change for most of these measures.
leading indicators.
cluded.
HOW TO READ CHARTS
Peak (P) of cycle indicates
end of expansion and beginning of recession (shaded
area) as designated by NBER.
Basic Data
Arabic number indicates latest
month for which data are
plotted. ("9" = September)
Solid line indicates monthly
data. (Data may be actual
monthly figures or moving
averages.)
Dotted line indicates anticipated data.
Broken line indicates actual
monthly data for series where
a moving average is plotted.
Roman
number
indicates
latest quarter for which data
are plotted. ("IV" = fourth
quarter)
Solid line with plotting points
indicates quarterly data.
Parallel lines indicates a break
in continuity (data not available, extreme value, etc.).
Diffusion Indexes
Solid line indicates monthly
data over 6- or 9-month
spans.
Broken line indicates monthly
data over 1-month spans.
Various scales are used to
highlight the patterns of the
individual series. "Scale A"
is an arithmetic scale, "scale
L-1" is a logarithmic scale
with 1 cycle in a given distance, "scale L-2" is a logarithmic scale with two cycles
in that distance, etc.
Arabic number indicates latest
month for which data are
used in computing the indexes.
Broken line with plotting
points indicates quarterly
data over 1-quarter spans.
Roman
number
indicates
latest quarter for which data
are used in computing the indexes.
Solid line with plotting points
indicates quarterly data over
various spans.
Diffusion indexes and rates
of change are centered within
the spans they cover.
Trough (T) of cycle indicates
end of recession and beginning of expansion as designated by NBER.
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 line with plotting points
indicates percent changes over
3-or 4-quarter spans.
Roman number indicates
latest quarter used in computing the changes.
HOW TO LOCATE A SERIES
1. See ALPHABETICAL INDEX-SERIES FINDING GUIDE at
the back of the report where series are arranged alphabetically
according to subject matter and key words and phrases of the
series titles, or
2. See TITLES AND SOURCES OF SERIES at the back of
the report where series are listed numerically according to
series numbers within each of the report's sections.
Table 1. Summary of Recent Data and Current Changes for Principal Indicators
Basic data 1
Timing
classification 3
Series title
Percent change
Unit
Average
of
4th Q
1978
measure
1977
1978
1st Q
1979
2dQ
June
July
1979
1979
1979
|
Aug.
1979
June
July
to
1979
to
Aug.
1979
July
4th Q
to
1st Q
1st Q
to
2d Q
1979
1979
3
.i
8
I. CYCLICAL INDICATORS
A. Composite Indexes
910. Twelve leading indicators
920 Four coincident indicators
930 Six lagging indicators
L,L,L
1967-100 ..
c,c,c
do.
do.
-9<l-9.Lg
Loading Indicator Subgroups:
913. Marginal employment adjustments
914. Capital investment commitments
915. Inventory investment and purchasing
916 Profitability
917. Money and financial flows
do.
do.
do.
do.
do.
L,L,L
L,L,L
L,L,L
(_(_!_
L!L',L
...
.. .
.. .
...
136.4
131.3
125.4
141.8
140.1
143.1
143.4
144.3
152.0
142.8
145.5
158.2
97.2
11J.4
103.8
95.2
145.1
98.2
115.7
106.2
93.2
148.8
99 .2
116 .5
106.3
94.1
149.9
40.4
40.6
3.7
4.4
328
0.9
2.2
40.7
0.738
0.818
162
139.1
145 0
165.5
139.1
143 7
167 7
-0.2
0 0
0 9
0.0
—0 9
1 3
-0.4
96.3
95.1
113.6
105.1
0.2
-1.5
-0.7
NA
0.6
-1.2
0.7
-0.5
NA
0 .9
-0.3
0.2
0.1
-0.1
-2.1
0.2
-0.1
-0.5
0.0
-0.1
0.5
-0.5
0.0
139.6
145.0
162.8
139.4
145 0
164.0
98.9
96.2
114.7
108.0
92.4
143.7
114.1
107.1
NA
139.9
96.1
114.5
106.3
NA
1^9.6
39.8
3.1
3.9
393
1.1
2.0
40.1
3.2
3.8
390
1.3
2.0
40.2
40.0
3.8
4.3
346
0.8
2.3
3.3
3.7
398
1.1
1.9
3.3
3.6
396
1.6
1.9
0.802
0.76C
0.789
0.789
0.750
158
154
153
155
155
166.45 167.54
93,205 93,494
88,517 88,764
26,402 26,433
167.72
93,949
81,813
26,441
167.39
93,578
88,815
26,286
0.1
0.5
0.1
0.0
112.8
105.6
NA
140.5
NA
141.8
O . po
4
1
-1.5
1.6
-1 8
-4.1
-2.2
n . o"3
—u
z9
. Qy
-2.7
-0.5
-0.8
NA
-2.6
91
92
Q
y "3j
91
91
91
91
91
B. Cyclical Indicators by Economic Process
B1. Employment and Unemployment
Marginal Employment Adjustments:
*1 . Average workweek, prod, workers, mfg
21. Avg. weekly overtime, prod, workers, mfg. 2 .
2. Accession rate, per 100 employees, mfg. 2 . . . .
5. Avg. weekly initial claims (inverted 4 )
*3. Layoff rate, per 100 employ., mfg. (inv. 4 ) 2 ..
4. Quit rate, per 100 employees, mfg. 2
L,L,L
L,C,L
L,L,L
L,C,L
L,L,L
Percent
Thousands. .
Percent
L,Lg,U
do. . . .
40.3
3.4
4.0
371
1.1
1.8
Job Vacancies:
60. Ratio, help-wanted advertising to persons
unemployed 2
46. Help-wanted advertising
L,Lg,U
L,Lg,U
Ratio
1967-100...
0.518
118
u,c,c
A.r.,bil. Mrs..
Thousands. .
156.32
87,302
82,256
24,288
Comprehensive Employment:
48. Employee hours in nonagri. establishments . . .
42. Persons engaged in nonagri. activities
*41 . Employees on nonagri. payrolls
40. Employees in mfg., mining, construction . . . .
90. Ratio, civilian employment to total population of working age 2
U,C,C
C,C,C
L,C,U
U,Lg,U
Comprehensive Unemployment:
37. Total unemployed (inverted 4 )
L,Lg,U
43. Unemployment rate, total (inverted 4 ) 2
L,Lg,U
45. Avg. weekly insured unemploy. rate (inv. 4 ) 2 . . L,Lg,U
4
*91. Avg. duration of unemployment (inverted ) . . Lg,Lg,Lg
44. Unemploy. rate, 15 weeks and over (inv. 4 ) 2 . . Lg,Lg,Lg
Hours
do. . . .
do. . . .
do. . . .
3.6
4.1
339
0.9
2.1
149
162.59
91,0^1
85,763
25,381
166.55
93,301
86,963 87,868
25,857 26,241
165.05
92,270
0.0
-0. 0 3 9
1.3
0.0
-0.2
-0.4
0.0
-0.6
Percent
57.10
58.6U
59.01
59.39
59.06
59.19
59.39
5? .11
0.20
-0.27
Thousands . .
Percent
6,855
6,047
5,908
5,878
5,880
5,774
5,848
6,149
7.0
3.9
14.3
2.0
6.0
3.2
11.9
1.4
5.8
3.0
5.7
3.0
11.4
5.6
3.0
10.4
1.1
5.7
2.9
11.2
1 .2
5.7
3.0
10.8
1.2
1.2
-1.3
-0.1
0.1
3.8
0.1
-5.1
-0.3
-0.1
-5.0
-0.2
1174.6 1176.5 1 1 7 5 . 7 1175.3 1181.0 1176.7
1 0 2 3 . 6 1 0 2 5 . 8 1 0 2 4 . 3 I u 2 4 . 3 1 0 2 3 . 0 1018.4
0.5
-C.I
-0.4
-0.4
do. . . .
Weeks
Percent
1.2
10.0
1.0
6.0
3.0
10.5
0.2
0.1
-0.1
-5.5
0.1
0.1
-2.2
-0 .7
-0.4
-13.6
-0.3
-0.3
-2.5
6
4
-0.1
-0 .1
0.7
0.6
4
4
4
4
-0.016 - 0 . 0 2 2
-2.5
0.9
1.1
1.0
1.5
-0.33
0.38
0 .5
0.1
0.0
-1.8
0.0
2
9
0.0
0 .0
0 .0
5.3
0 .0
3
4
4
9
4
5
5
5
B2. Production and Income
Comprehensive Output and Income:
50 GNP in 1972 dollars
52. Personal income in 1972 dollars
*51. Pers. income less transfer pay., 1972 dollars . .
53. Wages and salaries in mining, mfg., and construction, 1972 dollars
Industrial Production:
*47. Industrial production, total
73. Industrial production, durable rnfrs
74. Industrial production, nondurable mfrs
49 Value of goods output 1972 dollars
Capacity Utilization:
82. Capacity utilization rate, mfg., FRB
ad. tapaci y u i iza i
, g.,
C CC
1340 .5 1399 .2 1426 .6 1430 .6 1 4 2 2 . 3
C,C,C
A.r., bii. dol.
. . . !.do. . . .
do. . . .
1093.0
944.3
1147.6
997.8
0.2
-0 . 6
-0.1
-0.1
c,c,c
do. . . .
231.9
243.5
248.7
250.7
247.8
246.8
246.2
242.9
-0.2
-1.3
0 .8
-1.2
5
138.2
130 .0
150.5
615.6
146.1
139 .7
156.9
639 .5
150.7
145.6
160.5
657 .3
152.2
147.5
161.9
658 .6
151.9
146 .6
162.4
647 .3
152.4
147.6
162.7
152.6
147.3
163.3
150.9
144.4
162.7
0.1
-0.2
0.4
-1.1
-2.0
-0.4
1.0
1.3
0.9
0 . 2
-0.2
-0.6
0.3
-1 . 7
4
7
7
4
82.0
83
82.7
84.4
84
85 .6
86.4
86.7
0 .3
-0.8
84
84
88.2
88 .0
-0 . 2
-0.8
8
8
8
6.0
2.9
2.3
-6.2
-8 .3
-6.0
-3.68
3.9
-1
9
3
1.6
-1.3
-0.5
0.5
-2.1
-7 .8
-6.9
5
5
7
5
5
5
5
-1.4
NA
1
1
c,c,c
c,c,c
1967=100..
C,C,C
C,L,L
C,C,C
do. . . .
do. . . .
A.r , bil. dol.
L CU
... ....
L,C,U
do
do
0 . 3
0 .2
o
83
87 .2
B3. Consumption, Trade, Orders, and
Deliveries
Orders and Deliveries:
6. New orders, durable goods
7. New orders, durable goods, 1972 dollars
*8. New orders, cons, goods and mtls., 1972 dol. .
25. Chg. in unfilled orders, durable goods 2
96. Mfrs.' unfilled orders, durable goods 5
*32. Vendor performance 2 (u)
Consumption and Trade:
56. Manufacturing and trade sales
*57. Manufacturing and trade sales, 1972 dollars ..
75. Industrial production, consumer goods
54. Sales of retail stores
59. Sales of retail stores, 1972 dollars
r
R PP nnal rnrKi imntinn pxnpnrt fliitns
58. Index of consumer sentiment @
L,L,L
L,L,L
L,L,L
L,L,L
L,Lg,U
Bil. dol
do. . .,
do. . . .
do. . . .
Bil. dol., EOP
L,L,L
Percent
C,C,C
C,C,C
C.L.C
C,L,U
U,L,U
L,C,C
L,L,L
Bil. dol
do. . . .
76.32
75.82
73.04
7 6 . 7 3 81.35
72.48
43.91
45.20
41.45
40.98
38.76
38.89
36.80
38.61
39.51
37.15
35.80
35.63
3.20
6.88
-1.04
-0.97
1.57
3.66
5.36
3.18
184 .32 2 2 8 . 1 8 228.18 2 4 8 . 8 4 2 5 8 . 4 6 2 5 8 . 4 6 2 5 7 . 4 2 2 5 6 . 4 4
59.58
38.35
35.36
NA
287.50
158.85
NA
150.9
147.7
71,694 71,803 7 2 , 2 8 3 7 2 , 7 8 6
44,003 4 3 , 7 5 6 43,914 43,821
1.5
0 .4
-0.5
0.7
0.4
-2.1
64.5
-8.2
6.8
NA
NA
NA
NA
NA
NA
37.54
64
67
75
74
2 2 4 . 5 3 254.10
147.61 156.21
269.68
160.50
151.3
70,016
45,464
70 .6
73.5
277.75
161.11
151.7
71,341
44,935
74 .0
71.5
282.15
158.95
283.39
158.14
150.9
151.7
68 .2
66.6
65.8
60.4
134.2
131.9
41,991 4 2 , 3 0 4
130.1
IJA
130.1
NA
NA
NA
55
1967=100...
145.3
149.1
Mil. dol
do. . . .
A.r., bil. dol.
60,335
42,644
64,972
44,208
61 .7
86.8
68 .0
79.4
I d'l966=100
55
-4.4
-5.4
-2.7
-4.22
-0.4
-10
70.16
41.46
70
60
0.8
0.3
-0.5
0.07
-0.4
-5
NA
NA
0.7
-0.2
1.52
9.1
8
3 .0
0.4
0.3
1.9
-1.0
4 .8
-2.7
T
B4. Fixed Capital Investment
Formation of Business Enterprises:
*1 2. Net business formation
1 3. New business incorporations
L,L,L
L.L.L
1967=100 . . . .
Number. . . .
126.5
36,509
132.9
39,985
-1.7
0.7
Table 1. Summary of Recent Data and Current Changes for Principal Indicators —Continued
Basic data 1
Series title
Timing
classification 3
Percent change
Unit
E
Average
of
measure
1977
1978
4th Q
1978
1st Q
1979
2d Q
1979
June
July
1979
1979
Aug.
1979
June
July
to
to
Aug.
1979
July
1979
4th Q
to
1st Q
1979
1st Q
to
2d Q
1979
.2
I. CYCLICAL INDICATORS-Con.
B4. Fixed Capita! Investment-Con.
Business Investment Commitments:
1 0. Contracts and orders, plant and equipment . . .
*20. Contr. and orders, plant and equip.,
1972 do!
24. New orders, cap. goods indus., nondefense . . .
27. New orders, capital goods industries, nondefense, 1972 dollars
9. Construction contracts, commercial and industrial buildings, floor space
1 1 . New capital appropriations, mfg
97. Backlog of capital appropriations, mfg. 5 . . . .
Business Investment Expenditures:
61. Business expend., new plant and equipment . .
69. Machinery and equipment sales and business
construction expenditures
76. Industrial production, business equip
86. Nonresid. fixed investment, total, 1972 dol. . .
Residential Construction Commitments and
Investment:
28. New private housing units started, total
*29. New building permits, private housing
89. Fixed investment, residential, 1972 dol
L,L,L
Bil.dol
do. . . .
do. . , .
L,L,L
L,L,L
18.04
21.97
24.29
26.10
24.31
25.06
23.50
22.70
-6.2
-3.4
7.5
-6.9
1
12.05
15.08
13.58
18.30
14.52
15.63
22.75
14.55
21.75
13.34
20.30
14.14
21.16
20.23
13.16
19.91
-8.3
-7.0
-1.3
-1.6
7.6
12.1
-9.5
-7.0
2
2
-9.2
0.6
12.2
-9.8
2
15.4
21.3
8.4
-10.8
-5.2
3.3
1
9
1.2
4.5
6
do. . . .
10.12
11 .42
12.3.
13.82
12.46
12.81
11.63
11.70
Mil. s q . f t . . .
Bil.dol
Bil.dol., EOP
62.96
80.73
85.70
88.25
84.08
88.48
83.85
15.99
16.73
18.62
98.92
22.58
56.50
63.26
63.28
68.61
70.85
C,Lg,Lg A.r., bil. dol.
135.80
153.82
163.96
165.94
173.48
do. . . .
C,Lg,Lg
C,Lg,U 1967-100...
C,Lg,C A.r., bil. dol.
194.45
230.22
249.16
260.69
263.24
204.63
272.18
147.8
129.3
160.3
140.1
165.5
145.5
169.3
147.2
170.6
146.9
171.6
A.r., thous. .
1967=100...
1,987
144 .9
57.7
2,018
145.4
60.1
2,078
146.8
60.0
1,615
121.1
57.7
1,834
128.5
56.7
1,923
132.4
13.1
14.1
12.0
12.3
18.1
15.78
41.6
2.71
21.09
49.1
4.33
17.63
56.3
2.51
15.66
53.5
2.70
15.48
94.1
0.20
NA
NA
NA
-0 .18
40 .6
-2.50
379.63
391.89
405.97
413.81
259.22
L,L,L
L,C,U
U,Lg,U
C,Lg,Lg
L,L,L
L,L,L
L,L,L
A.r., bil. dol.
5.2
-5.2
21.41
171.6
NA
170.3
2.9
0.0
NA
-0.8
4.6
2.3
1.2
1.0
0.8
-0.2
6
7
8
1,791
123.4
1,783
133.6
-6 .9
-6.8
-0.4
8.3
-22.3
-17.5
-3.8
13.6
6.1
-1.7
2
2
8
0.3
5.8
3
NA
NA
NA
5.31
7.5
1.62
-3.46
7.2
-1.82
3
3
3
1.9
1.2
1.3
NA
NA
NA
3.2
1.1
2.9
3.6
1.6
3.9
7
7
6
0.01
NA
0.01
B5. Inventories and Inventory Investment
Inventory Investment:
30. Chg. in business inventories, 1972 dol. 2
*36. Change in inventories on hand and on order,
1972 dollars (smoothed 6 ) 2
31. Chg. in book value, mfg, and trade invent. 2 ..
38. Chg. in mtl. stocks on hand and on order 2 . . .
Inventories on Hand and on Order:
71. Mfg. and trade inventories, total 5
*70. Mfg. and trade invent., total, 1972 dol. 5
65. Mfrs.' inventories of finished goods 5
77. Ratio, inventories to sales, mfg. and trade,
constant dollars 2
78. Materials and supplies, stocks on hand and on
order 5
L,L,L
do. . . .
L,L,L
L,L,L
L,L,L
. . . . . . do. . . .
do. .. .
Bil. dol
12.36
27.4
0.88
18.98
41.5
2.04
Lg.Lg.Lg Bil.dol., EOP
do . . .
Lg,lg,Lg
do. . . .
Lg.Lg.Lg
338.10
236.82
58.88
379.63
249.59
63.80
63.80
65.67
68.26
405.97
256.18
68.26
69.15
NA
NA
NA
1.57
1.57
1.55
1.56
1.61
1.62
1.63
NA
L,Lg,Lg Bil.dol., EOP
143.50
167.95
167.95
180 ,93 1 8 8 . 4 6
188.46
188.67
NA
0 .1
NA
7.7
4 .2
7
1.98
298.1
0.19
1.2
0.01
0.3
0.46
8.5
0.12
7.6
9
2
1C1.73 102.71 1 0 7 . 3 6
1.0
4.5
2.3
1.8
1
Lg,Lg,Lg Ratio
2 4 9 . 5S 2 5 2 . 2 4 2 5 6 . 1 8
0.05
7
B6. Prices, Costs, and Profits
Sensitive Commodity Prices:
*92. Chg. in sensitive prices (smoothed 6 ) 2
23. Industrial materials prices®
L,L,L
U,L,L
Percent
1967=100...
0.69
210.4
1.22
231.0
1.38
1.84
252.0
273.4
1.96
294.1
Stock Prices:
*19. Stock prices, 500 common stocks®
L,L,L
1941-43=10.
98.20
96.02
97.13
99.35
101.18
Profits and P r o f i t Margins:
16. Corporate p r o f i t s after taxes
18. Corp. prof its after taxes, 1972 dollars
79. Corp. profits after taxes, with i VA and CCA . .
80
do
in 1972 d o l . . . .
15. Profits (after taxes) per dol. of sales, mfg, 2 . . .
26. Ratio, price to unit labor cost, nonfarm bus
L,L,L
L.L.L
LC,L
L,C,L
L,L,L
L,L,L
A.r., bil. dol.
do. . . .
Cents
1967=100.. ,
104.5
72.6
77.3
54.0
5.3
96.9
121.5
78.5
83.1
54.2
5.4
95.6
132.3
83.2
89.7
56.9
5.7
95.9
142.0
87.3
87.6
54.4
6.0
94.6
139.3
83.7
87.9
53.4
5.6
94.3
7.3
4.9
-2.3
-4.4
0.3
-1.4
-1.9
-4.1
0.3
-1.8
-0.4
-0.3
1
1
7
8
1
2
Cash Flows:
34. Net cash flow, corporate
35. Net cash flow, corporate, 1972 dollars
L,L,L
L,L,L
A.r., bil. dol.
do. .. .
171.7
115.4
194.1
121.5
205.7
125.8
216.0
129.8
217.3
127.4
5.0
3.2
0.6
-1.8
3
3
Lg,Lg,Lg 1967=100...
179.7
194.2
199.2
206.1
212.0
3.5
2.9
6
Lg,Lg,Lg Dollars
Lg,Lg,Lg 1967=100...
0.951
154.3
1.020
164.1
1.042
166.4
1.075
171.5
1.104
174.2
3.2
3.1
2.7
1.6
6
6
75.8
75.7
75.0
75.5
75.9
0.5
0.4
6
0.64
0.54
0.05
-0.21
0.92
0.84
0.59
-0.39
-0.25
-0.26
0.39
0.91
0,94
0.69
214.1
1.19
0.68
213.8
1.07
0.73
213.5
0.92
0.84
212.5
524.3
523.9
524.4
523.7
-0.12
0 .05
-0.1
0.1
-0.15
0.11
-0.5
-0.1
-0.25
-0.10
-3.1
-2.2
2.106
2.111
2.101
0 . 0 0 5 -0.010
0.047
100.84
27.62
30.70
93.22
NA
-7.62
NA
13.85 -11.78
NA
-1.38
-9.42
15.68
-5.41
-17.8
Unit Labor Costs and Labor Share:
63. Unit labor cost, private business sector
68. Labor cost (cur. dol.) per unit of gross
domestic product (1972), nonfin corp
*62. Labor cost per unit of output, mfg
64. Compensation of employees as percent of
national income 2
.....do. ...
do. . . .
Lg,Lg,Lg Percent
1.78
1.97
293.9
297.3
174.1
175.2
176.5
0.6
0.7
B7. Money and Credit
Money:
85. Change in money supply (Ml ) 2
102. Change in money supply plus time deposits at
commercial banks (M2) 2
*104. Chg. in total liquid assets (M7) (smoothed 6 ) 2 .
105. Money supply (Ml), 1972 dollars
*106. Money supply (M2), 1972 dollars
Velocity of Money:
107. Ratio, GNP to money supply ( M l ) 2
108, Ratio, pcrs. income to money supply (M2) 2
Credit
33.
1 12.
1 13.
1 10.
Flows:
Change in mortgage debt 2
Change in business loans 2
Change in consumer installment debt 2
Total private borrowing
L,L,L
L.C.U
L,L,L
L,L,L
L,L,L
C,C,C
Percent. . . .
do. . . .
do. . . .
Bil.dol
do. . . .
0.74
0.91
225.9
538.0
0.66
0.90
226.1
223.9
0.14
0.81
216.9
542.5
541.6
529.9
6.0^8
2.028
6.192
6.383
6.367
2.065
2.112
2.112
97.14
6.24
46 . 4 3
87.72
21.92
41.02
89.53
34.00
39.88
3 4 2 . 1U 3 7 6 . 4 4 3 0 9 . 4 0
NA
Ratio. . . , , .
5.802
C,Lg,C
.do. .. .
1.964
L,L,L
L.L.L
A.r,, bil. dol.
do. . . .
do. . . .
do. . . .
80.10
7.46
90.88
34.96
283.76
44.35
L,'L,L
L,L,L
14.27
1.23
0.191
41.47
29.32
29.69
NA
1.13
8
0.80
-0.12
-1.3
-1.1
10
10
10
10
-0.016
0.0
10
10
1.81
11.08
-1.14
NA
3
11
1111(
Table 1. Summary of Recent Data and Current Changes for Principal Indicators —Continued
Basic data'
Timing
classification 3
Series title
Unit
of
measure
Percent change
Average
1977
1978
4th Q
1978
1st Q
1979
2d Q
1979
July
1979
June
1979
4th Q
to
1st Q
1979
July
to
Aug.
1979
June
to
July
1979
Aug.
1979
1st Q
to
2d Q
1979
"1
.i
£
I. CYCLICAL INDICATORS-Con.
B7. Money and Credit-Con.
Credit Difficulties:
14. Liabilities of business failures (inv. 4 )®
39. Delinquency rate, instal. loans (inv. 4 ) 2 5 . . . .
L,L,L
L,L,L
Mil.dol
Percent, EOP
Bank Reserves:
93. Free reserves (inverted 4 ) 2 ©
94. Borrowing from the Federal Reserve 2 ©
L,U,U
L,Lg,U
Mil.dol
do. . . .
-253
462
-679
872
-738
952
L,Lg,Lg
Percent
do.
. . . .do.
. . ..do.
do.
....do.
do.
do.
5.54
5.26
7.06
8.20
5.68
8.72
7.84
6.82
7.94
7.22
7 89
8.98
6.02
9.75
9.80
9.06
9.5b
8.66
8 20
9.25
6.27
10.08
11.44
10.81
Interest Rates:
119. Federal funds rate 2 ®
114. Treasury bill rate 2 ®
115 Treasury bond yields 2 ©
1 16. Corporate bond yields 2 ®
117. Municipal bond yields 2 ®
118. Mortgage yields, residential 2 ®
67. Bank rates on short-term bus. loans 2 ®
*109. Average prime rate charged by banks 2 ®
C,Lg,Lg
C,Lg,Lg
Lg,Lg,Lg
U,Lg,Lg
Lg,Lg,Lg
Lg,Lg,Lg
Lg,Lg,Lg
...
...
...
...
...
. ..
Outstanding Debt:
66. Consumer installment debt 5
Lg,Lg,Lg Bil.dol., EOP
*72. Commercial and industrial loans outstanding,
weekly reporting large comm. banks
Lg,Lg,Lg Bil.dol
*95. Ratio, consumer install, debt to pers. income 2 . Lg,Lg,Lg Percent
257.94 196.33 183.60 182.36
2.45
2.36
2.45
2.33
II A
2.45
NA
NA
NA
NA
0.7
0.12
NA
-0.12
1<
3
-989
1,179
-861
1,097
-18G
-217
-128
-82
-5
37
455
368
9
9'
10.29
9.05
8 . 0J ">z.
9.51
6.13
10 .49
10.47
9.26
9.47
6.13
10.46
10.94
9.45
8.42
9.57
6.20
10.58
0.18
0 .21
0.03
-0.04
0.0
-0 .03
0.47
0.19
0.07
0.10
0.07
0.12
11.65
11.54
11.91
-0.11
0.37
0.49
0.68
0.24
0.30
0.10
0.17
0 .83
0.94
0.11
0 .01
0 .0
0 .13
-0.15
NA
0.07
-0.03
2 8 7 . 81 2 8 7 . 8 5 2 9 0 . 3 0
NA
0.9
NA
3.8
3 .6
- 7 3 3 -1,188 -1,175
1,357
989
1,396
10 .07
9.36
8 . 41/> 'i
9.55
6.37
10.25
12.27
11.75
MA
NA
NA
NA
10 .18
9.37
8
A A
. <i %
9.68
6.22
NA
12.34
11.72
223.28 267.63 267.63
277.88
113.13
13.46
1 3 5 . 9 3 143.19
14.81,
15.06
1 2 6 . 3 1 131.52
14.34
14.61
NA
2.45
8
-> c
. jD
11
11'
11
11
11
11
6
10<
6(
145.69
15.11
149.14
15.04
151.62
NA
2.4
-0.07
1.7
NA
3.4
0.19
5.3
0.26
7
9
II. OTHER IMPORTANT ECONOMIC
MEASURES
B. Prices, Wages, and Productivity
B1 . Price Movements
310.
320.
320c.
322.
330.
331.
332.
333.
334.
Implicit price deflator, GNP
Consumer prices (CPI), all items®
Change in CPI, all items, S/A 2
CPI, food
Producer prices (PPI), all commodities®
PPI, crude materials
PPI, intermediate materials
PPI, capital equipment
PPI, finished consumer goods
i
1972=100...
1967=100...
Percent
1967=100...
141.7
181.5
0.5
192.2
152.0
195.4
0.7
211.4
156 .7
201.9
0.7
219.5
160 .2
207.0
1.0
227.7
163 .8
214.1
1.1
233.9
216.6
1.0
234.7
218.9
1.0
235.0
221.1
1.1
235.0
1.1
0.0
0.1
1.0
0.1
0.0
2 .2
2.5
0.3
3.7
2 .2
3.4
0.1
2.7
31
32
32
32
. ..
. ..
...
.. .
.. .
194.2
214.3
201. 7
184.5
178.9
209.3
2 4, 0 . 2
215.5
199.1
192.6
216.0
255.3
222.5
205.0
199.0
223.9
27U.2
229.2
210.1
206.2
231.6
275.9
237.1
215.1
210.8
233.1
277.9
239.1
216.2
211.7
23L.6
282.8
243.6
217.9
214.2
238.1
283.1
246 .5
218.2
217.7
1.5
1.8
1.9
0.8
1.2
0.6
0.1
1.2
0.1
1.6
3.7
5.8
3.0
2.5
3.6
3.4
2.1
3.4
2.4
2.2
33
33
33
33
33
do. . . .
196.8
212.6
219.2
224.0
227.7
228.8
230.4
231.0
.. .
...
...
. ..
108.4
209.4
115.4
118 .8
108.9
228.7
117.0
120.1
108.6
236.1
116.8
120 .8
107.9
242 1
116.7
120 .0
106.2
246 7
115.2
119.3
105.6
105.4
104.6
do.
do.
do.
do.
do.
B2. Wages and Productivity
340. Average hourly earnings, production workers,
private nonfarm economy
341 . Real average hourly earnings, production
workers, private nonfarm economy
345. Average hourly compensation, nonfarm bus. . .
346. Real avg. hourly comp., nonfarm business . . .
370. Output per hour, private business sector
do.
do.
do.
do.
0.7
0.3
2.2
1.7
34
-0.2
-0.8
-0.6
2.5
-0 .1
-0 . 7
-1.6
1. 9
-1 .3
-0 . 6
34
34
34
37
0.5
0.5
1.3
7.3
-3.3
-0.3
0.0
-0.3
5.1
2.3
8.1
5.2
0.9
1.0
-0.5
1.3
-0.4
-3.1
-0.2
-0.2
0.0
-2.2
1.5
1.2
44
44
3
44
44
44
0.2
0.4
-0.3
-0.2
0.3
-1.5
0.4
0.2
0.2
-0 .5
-0.1
-0.8
45
45
45
2 .5
1 .5
4.6
0.4
0 .3
0.5
2 .3
1 .3
4 .7
0.6
3 .1
-7.9
50
50
50
51
51
C. Labor Force, Employment, and
Unemployment
441 .
442.
37.
444.
445.
446.
Labor
451 .
452.
453.
Total civilian labor force
Total civilian employment
Number of persons unemployed
Unemployed males, 20 years and over
Unemployed females, 20 years and over
Unemployed persons, 16-19 years of age
Millions
do. . . .
Thousands. .
do. . . .
do. . . .
do. . . .
Force Participation Rates:
Males, 20 years and over 2
Females, 20 years and over 2
Both sexes, 16-19 years of age 2
Percent
do. . .
do. . . .
79.7
4C.1
56.2
A.r., b i l . d o l .
do. . . .
do. . . .
do. . . .
do. . . .
do. . . .
375 .4
421 .7
-46 .3
298 .8
271.9
26 .8
Mil.dol
do. . . .
do. ...
A.r., bil.dol.
9 , 8 7 9 10,372 10,370 10,948 10,293 10,508 12,594
NA
5,115
4,548
4,422
4,5LO
5,146
5,545
2,304
2,755
3,468
3,109
4,098
3,247
2,497
99 .0
101 .2
103.4
106.0
93 .7
NA
NA
3,042
19.9
NA
-7.7
NA
NA
32.0
5.6
7.8
-20.8
2.2
-6.0
-18.0
-4.2
2 .5
51
52
54
56
10,117 11,959 13,211 1 3 , 6 9 7 1 4 , 2 6 1 1 5 , 0 3 8 1 5 , 6 6 9
1,985
2,483
2,561
2,909
3,103
2,481 2,635
3,022
1,852
2,122
2,866
3,034
2,810
2,500
12,308 14,337 14,903 15,437 16,438 16,937 16,777
3,2t4
3,462
3,470
4,011
4,753
3,593
4,101
1,725
1,815
1,856
1,846
1,730
1,323
1,753
NA
NA
NA
NA
NA
NA
4.2
6.7
-0 .4
-0 .9
15.9
4.9
MA
NA
NA
NA
NA
NA
3.7
-3.1
3.2
3.6
3.5
-5.5
4.1
6.2
2.0
6.5
11.6
5.3
60
60
60
61
61
61
9 7 . 3 7 1 0 0 . 4 2 101.53 1 0 2 . 4 7 1 0 2 . 3 0 1 0 2 . 5 3 1 0 3 . 0 6 1 0 3 . 0 5
96.41
90.54
94.30
97.21
95.61
96.60
96.75
96.90
6,855
6,047
5,880
5,774
5,848
5,908
5,878
6,149
2,252
2,727
2,151
2,129
2,096
2,178
2,249
2,300
2,236
2,181
2,486
2,190
2,213
2,223
2,150
2,324
1,642
1,559
1,568
1,537
1,455
1,450
1,519
1,525
79.8
49.6
58.0
79.8
50.1
58.5
80.2
50.3
58.7
79.7
50.2
57.9
432.1
459 .8
-27 .7
331 .0
303.6
27 .4
463.5
479 .7
-16 3
342 . 6
315.5
27 .1
475 .0
486 .8
-11 .7
343 .9
316.3
27.6
485.8
492.9
-7 .0
345 9
326 .1
19 7
79.7
50.3
58.2
79.9
50.7
57.9
79.7
51.0
56.4
D. Government Activities
D1. Receipts and Expenditures
501.
502.
500.
51 1 .
512.
510.
Federal Government receipts
Federal Government expenditures
Federal Government surplus or deficit 2
State and local government receipts
State and local government expenditures . . . .
State and local govt. surplus or deficit 2
51
D2. Defense Indicators
517.
525.
548.
564.
Defense Department obligations
Military prime contract awards
New orders, defense products
National defense purchases
E. U.S. International Transactions
E1 . Merchandise Trade
602.
604.
606.
612.
614.
616.
Exports, total except military aid
Exports of agricultural products
Exports of nonelectrical machinery
General imports, total
Imports of petroleum and products
Imports of automobiles and parts
,
Mil.dol.
do.
do.
do.
do.
do.
..
...
...
...
. ..
. ..
Table 1. Summary of Recent Data and Current Changes for Principal Indicators —Continued
Basic data 1
Series title
Unit
of
measure
Percent change
Average
1976
1977
1st Q
1978
2d Q
1978
30,811
42,710
•11,8S9
9,776
4,537
49,065
54,792
-5,707
35,267
43,174
-7,907
10,256
5,402
54,225
56,338
-2,113
1367.8
2011.3
1351.3
1395.0
956.6
6,401
6,276
4,449
4,390
1395.2
2104.2
1379.6
1437.3
1978
3d Q
1978
1st Q
1979
2d Q
1979
36,491 39,315
44,503 45,684
-8,012 - 6 , 3 6 9
10, 5 2 6 1 2 , 9 0 7
5,574
6,308
5 6 , 2 2 2 61,317
56,216 60,316
-1,994
1,001
41,348
47,463
-6,115
14,115
42,792
50,508
-7,716
1407.3
2159.6
1395.1
1476.5
976.2
1430 .6 1 4 2 2 . 3
4th Q
1978
3d Q
to
4th Q
1978
4th Q
to
1st Q
1979
1st Q
to
2d Q
1979
.9?
II. OTHER IMPORTANT ECONOMIC
MEASURES-Con.
E2. Goods and Services Movements Except
Transfers Under Military Grants
618.
620.
622.
651 .
652.
668.
669.
667.
Merchandise e x p o r t s
Merchandise imports
Merchandise trade balance 2
Income on U.S. investments abroad
Income on foreign investment in the U.S
E x p o r t s of goods and services
1 mports of goods and services
Balance on goods and services 2
Mil. dol
28,686
31,013
-2,326
7,322
3,328
42,940
40,540
2,400
30,204 35,471
3 7 , 9 2 2 44,018
-7,718 - 8 , 5 4 7
8,147 1 0 , 8 6 6
3,650
5,455
46,149 55,212
4 8 , 5 0 5 57,416
-2,356 -2,203
A.r., bil. dol
...
do
do
do
do
A.r., dollars
do
1273.0
1702.2
1266.4
1184.5
1399.2
2127.6
1385.1
1458.4
972.6
5,915
4,144
6,180
A.r., b i l . d o l
do
do
do
do
do
do
do
820.6
861.7
13L.2
do
do
do
do
do
do
do
15 , It 1
7,251
7,763
64,893 67,563
63,156 67,146
1,737
417
7.7
2.7
1,643
22.6
13.2
9.1
3.6
2,995
5.2
3.5
6.4
3.9
2 5 4 -1,601
9.4
7.4
14.9
7.1
5.8
4.1
4.7
6.3
736 -1,320
618
620
622
651
652
668
669
667
A. National Income and Product
A1. GNP and Personal Income
50.
200.
213.
224.
225.
217.
227
GNP in 1972 dollars
GNP in current dollars
Final sales, 1972 dollars
Disposable personal income, current dollars . . .
Disposable personal income, 1972 dollars
Per c a p i t a GNP 10 1972 dollars
Per capita disposable pers. income, 1972 dol. . .
1340.5
1899.5
1327.4
1305.1
891.8 9 2 9 . 5
4,285
1426.6
2235.2
1414.6
1524.8
6,390
4,426
6,431
4,462
2292.1 2329.8
1418.4 1 4 0 4 . 1
1 5 7 2 . 2 1601.7
991.5
996.6
993.0
6,512
6,506
6,460
4,522
4,536
4,510
966.1
1.4
3.5
1.4
3.3
1.6
1.2
1.3
0.3
2.5
0.3
3.1
0.5
0.1
0.3
-0.6
1.6
-1.0
1.9
-0.4
-0.8
-0.6
50
200
213
224
225
217
227
1.7
3.1
2.1
0.8
3.4
4.2
4.0
2.5
0.2
-1.2
-1.1
1.7
2.7
0.8
2.3
3.8
-0.7
-3.6
-1.1
0.6
1.5
-2.4
1.8
2.5
231
233
238
239
230
232
236
237
1.6
1.8
* -0.2
4.0
4.1
0.6
-0.1
-0.3
0.3
0.9
1.4
-1.5
2.1
-0.7
5.8
5.8
2.1
14.3
241
243
30
240
242
245
0.5
0.8
0.2
2.9
4.4
2.1
-0.5
1.8
-1.7
1.4
2.9
0.6
-0.8
-3.0
0.4
1.4
-1.2
2.8
261
263
267
260
262
266
1.7
2.5
-0.4
5.2
4.0
2.3
2.8
-1.0
4.1
6.0
2.2
8.5
-0.9
2.9
-3.8
2.2
7.5
-12.1
256
257
255
252
253
250
3.9
3.3
7.1
5.5
1.1
5.1
2.7
3.4
2.6
-3.2
0.7
4.3
1.5
2.0
0.2
-1.3
-1.8
2.4
220
280
282
286
284
288
4.3
2 Q
4 .4
0 5
10 8
5.0
0.3
3.3
3 2
290
z9 yQ _>c.
9
z yQ z9
298
293
A2. Personal Consumption Expenditures
231.
233.
238.
239.
230.
232.
236.
237.
Total, 1972 dollars
Durable goods, 1972 dollars
Nondurable goods, 1972 dollars
Services, 1972 dollars
Total, current dollars
Durable goods, current dollars
Nondurable goods, current dollars
Services, current dollars
126.6
321.5
900.8
882.7
894.8
905.3
920.3
14b.7
139.3
147.8
147.5
152.1
921.8
150.2
915.0
144.8
332.7
343.3
337.3
339.4
344.7
351.9
348.1
344.1
372.5
390.8
41U.8 4 0 6 . 1
413.1 416.3
407.6
423.5
426.1
1 0 8 9 . 9 1210.0 1 3 5 0 . 8 1 2 8 7 . 2 1331.2 1 3 6 9 . 3 1 4 1 5 . 4 1 4 5 4 . 2 1 4 7 5 . 9
1 5 '/ . 4 178.8
200.3
185.3
203.5
200.3
212.1 213.8
208.7
443.9
481.3
530 .6 5 0 5 . 9 521.8
536.7
551.1 571.1
581.2
488 .5 5 4 9 . 8 619.8
596.0
629.1
609.1
645.1
669.3
686.0
A3. Gross Private Domestic Investment
241.
243.
30.
240.
242
246.
T o t a l , 1972 dollars
T o t a l f i x e d investment, 1972 dollars
Change in business inventories, 1972 dol. 2 . . . .
Total, current dollars
T o t a l f i x e d investment, current dollars
Chg. in bus. inventories, current dol. 2
do
do
do
do
do
do
173.4
166.8
do
do
do
do
do
do
200.1
186.9
13.1
214.3
209.0
200.2
192.5
16.5
216.8
201.2
15.6
214.0
201.8
12.2
217.4
217.2
221.7
205.5
204.9
203.5
12.0
12.3
18.1
352.3
326.5
356.2
370.5
349.8
373.8
354.6
395.4
20.6
19.1
272.4
281.3
21.9
14.1
351.5
329.1
22.3
263.3
268.5
273.2
270.7
96.4
166.9
361.3
129.7
231.6
100.6
167.9
9o.6
174.6
396.2
435.6
144.4
251.8
152.6
99.9
170.9
419.4
150.9
283.0
268.5
96.1
80.4
15.8
163.3
155.4
98.4
88.2
10.3
175.9
185.8
-9.9
108.9
97.9
11.0
100.7
95.4
207.2
184.4
205.7
217.5
-10.3
206.6
213.3
-7.6
6.6
243.0
233.0
10.0
303.3
327.0
304.1
22.6
25.8
336.1
20.0
361.9
33.4
A4. Government Purchases
of Goods and Services
261.
263.
267.
260.
262.
266.
Total, 1972 dollars
Federal Government, 1972 dollars
State and local governments, 1972 dollars
Total, current dollars
Federal Government, current dollars
S t a t e and local governments, current dollars . . .
271.3
96.6
174.7
274.7
276.0
98.5
176.2
99.3
176.6
428.3
440.9
453.8
148 .2
280 .1
152.3
159.0
274 .7
101.1
173.6
460.1
163.6
288.6
294.8
296.5
304.9
109.2
96.9
12.3
111.9
98.5
13.3
213.8
113.8
101.0
12.9
117.0
100 .0
17.0
116.0
102.9
13.2
224.9
229.4
-6.8
-4.5
238.5
234.4
4.0
243.7
220.6
98.1
174.3
466.6
161.7
A5. Foreign Trade
256.
257.
255.
252.
253.
250.
do
do
do
do
do
do
E x p o r t s of goods and services, 1972 dollars ...
Imports of goods and services, 1972 dollars . . .
Net e x p o r t s of goods and serv., 1972 dol. 2 . . . .
E x p o r t s of goods and services, current dol
Imports of goods and services, current dol
Net exports of goods and serv., current dol. 2 . .
8.0
5.3
-22.2
251.9
-8.1
A6. National Income :?nd its Components
220.
280.
282.
286.
284.
288.
National income
Compensation of employees
Proprietors' income with IVA aod CCA
Corporate profits with IVA and CCA
Rental income of persons with CCA
Net interest
290.
295
292
298.
293.
Gross saving (private and govt.)
Business saving
Personal saving
Government surplus or deficit 2
Personal saving rate 2
do
do
do
do
do
do
1 3 5 9 . 8 1 5 2 5 . 8 1 7 2 4 . 3 1621.0 1 7 0 3 . 9 1 7 5 2 . 5 1 8 2 0 . 0 1 8 6 9 . 0 1 8 9 7 . 9
1 0 3 7 . 8 1156.9 1 3 0 4 . 5 1244 .0 1 2 8 8 . 2 1321.1 1 3 6 4 . 8 1411.2 1 4 3 9 . 7
89.3
126.8
22.1
83.8
100.2
15U.O
24.7
94.0
116.8
167.7
25.9
109.5
109.1
141.2
25.2
101.5
115.0
169.4
24.4
106.8
117.4
175.2
26.8
111.9
125.7
184.8
27 .1
117.6
129.0
178.9
27.3
122.6
129.3
176.6
26.8
125.6
236.2
203.3
276.1
324.6
253.0
289.7
234.4
329.2
230.7
332.7
259.6
346.9
264.7
362.2
266.0
68.6
-35.7
65.0
-19.5
72.0
-0.3
74.6
-19\2
70.9
71.5
10.8
79 2
15.8
5.8
5.0
4.9
5.3
4.8
4.7
5.0
374.3
274.6
85 9
12.7
5.4
A7. Saving
do
do
do
do
Percent
253.1
71.2
5.0
5.0
0 8
8.5
-0.1
NOTE: Seriesare seasonally adjusted except tor those indicated by®, which appear to contain no sonal movement. Series indicated by an asterisk (*) are included in the major composite indexes. Dollar values are in
compos indexes) and sources, see "Titles and Sources of Series" at the back of BCD. NA = not available, a = anticipated.
current dollars unless otherwise specified. For complete series titles (including composition of the composite
EOP = end of period. A.r. = annual rate. S/A = seasonally adjusted (used for special emphasis). IVA = inventory valuation adjustment. CCA = capital consumption adjustment. MIA = national income accounts.
1
For a few series, data shown here have been rounded to fewer digits than those shown elsewhere in BCD. Annual figures published by the source agencies are used if available.
2
Differences rather than percent changes are shown for this series.
3
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.
4
Inverted series. Since this series tends to move counter to movements in general business activity, signs of the changes are reversed.
5
End-of-period series. The annual figures (and quarterly figures for monthly series) are the last figures for the period.
6
This series is a weighted 4-term moving average (with weights 1, 2, 2, 1) placed at the terminal month of the span.
0
C
0 .D
-3.1
0.4
COMPOSITE INDEXES AND THEIR COMPONENTS
Chart Al. Composite Indexes
910. Index of twelve leading indicators (series 1, 3, 8, 12, 19, 20, 29, 32, 36, 92, 104, 106X.
920. Index of four roughly coincident indicators (series 41, 47, 51, 57)
indicators (series 62, 70, 72, 91, 95, 109)
48 50 51 52 53 54 55 56 57 53 59 60 61 62 63 64 65 68 67 68
Digitized for 1948
FRASER
http://fraser.stlouisfed.org/
NOTE: Numbers entered on the chart indicate length of leads (•) and lags ( + ) in months from reference turning dates.
Federal Reserve Bank of St. Louis
6r"> 70
71 72 73 74 75 76 77 78 79 1980
A I
COMPOSITE INDEXES AND THEIR COMPONENTS—Con.
Chart Al. Composite Indexes —Con.
913. Marginal employment adjustments (series 1, 2, 3, 5)
-9
914. Capital investment commitments (series 12, 20, 29)
-10
-30
^F
-13
915. Inventory investment and purchasing (series 8, 32, 36, 92)
917. Money and financial flows (series 104, 106, 110)
NOTE: Numbers entered on the chart indicate length of leads (•) and lags ( + ) in months from
http://fraser.stlouisfed.org/
Current data for these series are shown on page 60.
Federal Reserve Bank of St. Louis
940. Ratio, coincident index to lagging index
reference turning dates.
"""""— "tr
CYCLICAL INDICATORS
A |
COMPOSITE INDEXES AND THEIR COMPONENTS—Con.
Chart A2. Leading Index Components
(July/(May)
P
T"
(Nov.) (Mar
P
T
1. Average workweek, production workers,
manufacturing (hours)
4140-
39-
3. Layoff rate, manufacturing (per 100 employees—inverted scale)
8. New orders for consumer goods and materials, 1972 dollars (bil. dol.)
A ^
-TUT
V
32. Vendor performance, percent of companies reporting slower deliveries (percent)
20. Contracts and orders for olant and equipment
1948 49 50 51 52 53 54 55 56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 71 12
Current data for these series are shown on pages 61, 64, 65, and 66.
73 74 75 76 77 78 79 1980
A
COMPOSITE INDEXES AND THEIR COMPONENTS—Con.
Chart A2. Leading Index Components—Con.
29. New building permits, private housing units (index: 1967=100)
36. Net change in inventories on hand and on order, 1972 dollars, smoothed1 (ann. rate, bil. dol.)
92. Change in sensitive prices, smoothed1 (percent)
Ul
104. Change in total liquid assets, smoothed1 (percent)
19. Stock prices, 500 common stocks
(index: 1941-43=10)
itm
106. Money supply-M2-in 1972 dollars (bil. dol.)
1
This series is a weighted 4-term moving average (with weights 1,2,2,1) placed on the terminal
Current data for these series are shown on pages 67, 68, 69, and 71.
month of the span.
CYCLICAL INDICATORS
A I
COMPOSITE INDEXES AND THEIR COMPONENTS—Con.
Chart A3. Coincident Index Components
41. Employees on nonagricultural payrolls (millions)
51. Personal income less±ansfa_payments
47. Industrial production, total (index: 1967=100)
Current data for these series are shown on pages 62, 63, and 65.
c£c
57. Manufacturing and ttade^aJeUlZ2jlgJkLXbLM)
m
A
COMPOSITE INDEXES AND THEIR COMPONENTS—Con.
Chart A4. Lagging Index Components
Current
data for these series are shown
91. Average duration of unemployment (weeks—inverted scale)
70. Manufacturing and trade inventories, 1972 dollars (bil. dol.)
Di
62. Labor cost per unit of output, manufacturing (index: 1967=100)
109. Average prime rate charged by banks (percent)
Lg,Lg,Lg
72. Commercial and industrial loans outstanding, weekly
reporting large commercial banks (bil. dol.) *
95. Ratio, consumer installment debt to personal income (percent)
on pages 62, 68, 70, and 73.
CYCLICAL INDICATORS
B |
CYCLICAL INDICATORS BY ECONOMIC PROCESS
Chart Bl. Employment and Unemployment
| Marginal Employment Adjustments]
1. Average workweek, production workers, manufacturing (hours)
21. Average weekly overtime hours, production workers, manufacturing (hours)
2. Accession rate, manufacturing (per 100 employees)
5. Average weekly initial claims, State unemployment insurance (thousands—inverted scale)
3. Layoff rate, manufacturing (per 100 employees—inverted scale)
Current data for these series are shown on page 61.
4. Quit rate, manufacturing (per 100 employees)
CYCLICAL
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Con.
Chart Bl. Employment and Unemployment—Con.
I Job Vacancies |
1 4 -i
I
60. Ratio, help-wanted advertising to number
of persons unemployed (ratio)
,0-j
46. Help-wanted advertising (index: 1967^100^
I Comprehensive Employment!
48. Employee-hours in nonagricultural establishments
(ann. rate, bil. hours)
lyQQ
42. Persons engaged in nonagricuitural activities (millions)
Current data for these series are shown on pages 61 and 62.
41. Employees on nonagricultural payrolls (millions)
40. Employees in goods-producing industries—mining,
manufacturing, construction" (millions) U
C ' Y ; 'CA1..
B |
;iND:C AT <>•'•.
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Con.
Chart Bl. Employment and Unemployment—Con.
I Comprehensive Employment—Con. |
90. Ratio, civilian employment to total population of working age (percent)
|Comprehensive Unemployment]
Current data for these series are shown on page 62.
37. Number unemployed, total (millions—inverted scale)
ESDI
45. Average weekly insured unemployment rate (percent—inverted scale)
91. Average duration of unemployment (weeks—inverted scale)
^V^^^M'
B
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Con.
Chart B2. Production and Income
[Comprehensive Output and Income]
Current data for these series are shown on page 63.
50. GNP in 1972 dollars, Q (ann. rate, bil. dol.)*
fc^cl
—
52. Personal incomen1972 dollars (ann. rate, bil. dol.)
51. Personal income less transfer payments in 1972 dollars
(ann. rate, bil. dol.)
c,c,c
53. Wages and salaries in mining, manufacturing, and
construction in 1972 dollars (ann. rate, bil. dol.)
fc^cl
B
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Con.
Chart B2. Production and Income—Con.
| Industrial Production]
47. Industrial produdin, total (index:1967=100)
74. Industrial production, nondurable manufactures
(index: 1967=100)
73. Industrial production, durable manufactures
(index: 1967=100)
(ann. rate, bit. dol.)
| Capacity Utilization [
http://fraser.stlouisfed.org/
Current data for these series are shown on pages 63
Federal Reserve Bank of St. Louis
83. Rate of capacity utilization, manufacturing (BEA), Q (percent)
82. Rate of capacity utilization, manufacturing (FRB), Q (percent)
84. Rate of capacity utilization, materials, Q (percent)
and 64.
[L,C,U|
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Con.
Chart B3. Consumption, Trade, Orders, and Deliveries
Orders and Deliveries
7. New orders, durable goods industries, 1972 dollars
[Ull
6. New orders, durable goods industries,
current dollars (bil. dol.)
8. New orders for consumer goods and materials
in 1972 dollars (bil. dol.)
25. Change in unfilled orders, durable goods industries
(bil. dol.; MCD moving avg.—4-term)
XT 'V-
1955 56 57 58 59 60
Current
data for these series are shown on page
^^
*^^
_^ ^
96. Manufacturers' unfilled orders, durable
(bil. dol.)
32. Vendor performance, percent of companies
reporting slower deliveries (percent)
Ul
61
64.
62
83
64
65
66
67
68
69
70
71
72
73
74
75
76
77
78 1979
B
I
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Con.
Chart B3. Consumption, Trade, Orders, and Deliveries—Con.
I Consumption and Trade
Current data for these series are shown on page 65.
56. Manufacturing and trade sales in current dollars
(bil. dol.)
57. Manufacturing and trade sales
in iy/2jtoHars (oil. dol.)
c,c,c
75. Industrial production, consumer goods
(index: 1967=100)
54. Sales of retail stores in current dollars (bil. dol.) ~--*-A^/>/
59. Sales of retail stores in 1972 dollars (bil. dol.)
,
55. Personal consumption expenditures, automobiles, Q
(ann. rate, bil. dol.)
58. Index of consumer sentiment (1st Q 1966=100)
T
B
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Con.
Chart B4. Fixed Capital Investment
|Formation of Business Enterprises!
12. Net business formation (index: 1967=100) L,L,L
13. New business incorporations (thousands)
Business Investment Commitments
20. Contracts and orders for plant and equipment
in 1972 dollars (bil. dol.)
10. Contracts and orders for plant and equipment
in current dollars (bil. dol.) |~jjj[
27. Manufacturers' new orders, capital goods industries,
nondefense, in 1972 dollars (bil. dol.)
nondefense, in current dollars (bil. dol.)
1
! ',
lit H
IlL
9. Construction contracts, commercial and industrial buildings
(mil. sq. ft. of floor area; MCD moving avg.—5-term)1
1955- 56
57
58
59 GO *>!
http://fraser.stlouisfed.org/
iThis is a copyrighted series used by permission; it may not be reproduced without written
series are shown on pages 65 and 66.
Federal Reserve Current
Bankdata
of for
St.these
Louis
30
G9
per
/
72
73
74
75
ion from McGraw-Hill Information Systems Company, F W. Dodge Division.
76
77
78 1979
CYCLICAL INDICATORS
B |
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Con.
Chart B4. Fixed Capital Investment—Con.
[Business Investment Commitments—Con.
11. New capital appropriations, manufacturing, Q (bil. dol.)
appropriations, manufacturing,
61. Business expenditures for new plant and equipment, Q
(ann. rate, bil. dol.)
Business Investment Expenditures]
1955 56 57 58
69. Machinery and equipment sales and business
construction expenditures (ann. rate, bil. dol.)
76. Industrial production, business equipment
(index: 1967=100)
59
60
61
62
63
64
65
66
67
68
69
70
71
72
73
74
75
76
77
78 1979
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Con.
Chart B4. Fixed Capital Investment—Con.
[Business Investment Expenditures—Con.|
Nonresidential fixed investment in 1972 dollars, Q (ann. rate, bil. dol.)
88. JProdiicers'jdurable eqwprrent,jQ_
"~~*
[Residential Construction Commitments and Investment]
28. New private housing units started, total (ann. rate, millions)^,
29. New building permits, private housing units (index: 1967=1001
http://fraser.stlouisfed.org/
Current data for the;
shown on page 67.
Federal Reserve Bank of St. Louis
Residential fixed investment, total, in 1972 dollars, Q
(ann. rate, bil. dol.)
r*('.?. 1C-'
B
|
• ' • • ; " • •' ,/" ;•*;;.
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Con.
Chart B5. Inventories and Inventory Investment
| Inventory Investment)
30. Change in bjjsjn.^ iTOfltonfo 1972 dollars, Q (ann. rate, bil. dol.)
-^
36. Net change in inventories on hand and on order, 1972 dollars
(ann. rate, bil. dol.; moving avg.—4-term1)
31. Change in book value, manufacturing and trade mventones
(ann. rate, bil. dol.; MCD movingjvg.:^5:terrnj
1955 56 57 58
59 60
6.1 62 63 64
65 66
67 68 69
http://fraser.stlouisfed.org/
This series is a weighted 4-term moving average (with weights 1,2,2,1) placed on the terminal month of the span.
Federal Reserve Bank
ofdata
St.forLouis
Current
these series are shown on page 68.
1
70
71
7.2
74
75
76
77
78 1979
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Con.
Chart B5. Inventories and Inventory Investment—Con.
Inventories on Hand and on Order
Current data for these series are shown on page 68.
70. Manufacturing and trade inventories, 1972 dollars (bil. dol.)
71. Book value, manufacturing and trade inventories,
current dollars (bil. dol.) 11«LgLg
65. Book value of manufacturers' inventories
of finished goods (bil. dol.)
77. Ratio, deflated inventories to salevmanufacturmg^ and trade
78. Stocks of materials andLsupplies;k onjhand jnd on order,
manufacturing (bil. doL)
f^v^';cK : s
B |
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Con.
Chart B6. Prices, Costs, and Profits
[Sensitive Commodity Prices|
92. Change in sensitive prices (percent; moving avg—4-term1)
;L</m*v, .#WL ..L .*MM
23. Industrial materials prices (index: 1967=100)
19. Stock prices, 500 common stocks (index: 1941-43=10)
[Profits and Profit Margins
18. Corporate profits after taxes, 1972 dollars, Q
farm. rate. hil. Hol.^ \
^
16. Corporate profits after taxes, current dollars, Q
(ann. rate, bil. dol.)
["["["[
80. Corporate profits after taxes with IVA and P.f.A
1972 dollars, Q (ann. rate, bil. dol.)
79. Corporate profits after taxes with IVA and CCA,
current dollars, Q (ann. rate, bil. dol.)
1955 56 57 58 59 60 61 62 63 84 65 66 67 68 69
http://fraser.stlouisfed.org/
This series 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 69.
Federal Reserve Bank
of St. Louis
1
70
71
72
73
74
75
76
77
78 1979
B
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Con.
Chart B6. Prices, Costs, and Profits—Con.
I Profits and Profit Margins—Con.J
22. Ratio, corporate profits (after taxes) to total corporate domestic
income, Q (percent)
81 Ratio, corporate profits (after taxes) with inventory valuation and
capital consumption adjustments to total corporate domestic income,
Q (percent)
l
15. Profits (after taxes) per dollar of sales, all manufacturing corporations, Q (cents)
fuS
26. Ratio, price to unit labor cost, nonfarm business sector, Q (index: 1967=100)
| Cash Flows |
http://fraser.stlouisfed.org/
Current data for these series are shown on pages 69
Federal Reserve Bank of St. Louis
35. Net cash flow, corporate, in 1972 dollars, Q
(ann. rate, bil. dol.)
34. Net cash flow, corporate, in current dollars, Q
(ann. rate, bil. dol.)
i. . . t
and 70.
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Con.
Chart B6. Prices, Costs, and Profits—Con.
|Unit Labor Costs and Labor Share]
63. Unit labor cost, private Mm* sector, Q (index: 1967=100)
68. Labor cost (current dollars) per unit of gross domestic product
(1972 dollars), nonfinandai corporations. Q (dollars) ,
http://fraser.stlouisfed.org/
Current data for these series are shown on page
Federal Reserve Bank of St. Louis
62. Labor cost per unit of output, manufaduring (index: 1967=100)
64. Compensation of employees as a percent of national income, Q (percent)
70.
B
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Con.
Chart B7. Money and Credit
85. Change in money supply—demand deposits plus currency (Ml)
(percent; MCD moving avg—6-term)
i.*
102. Change in money supply plus time deposits at commercial banks (M2)
(percent; MCD moving avg.—6-term)
^
104. Change in total liquid assets (percent; moving avg.—4-term1)
1
This series is a weighted 4-term moving average (with weights
Current data for these series are shown on page 71.
106. Money supply-M2-in 1972 dollars
108. Ratio, personal income to money supply M2 (ratio) | C,Lg,C [
1,2,2,1) placed on the terminal month of the span.
B
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Con.
Chart B7. Money and Credit—Con.
| Credit Flows
Current data for these series are shown on pages 71 and 72.
33. Change in
112. Change in bank loans to businesses (ann. rate, bil. dol.;
MCD moving avg—6-term)
1777]
113. Change in consumer installment debt (ann. rate, bil. dol.)
110. Total private borrowing, Q (ann. rate, bil. dol.)
B
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Con.
Chart B7. Money and Credit—Con.
[Credit Difficulties |
Current data for these series are shown on page 72.
14. Current liabilities of business failures (mil. dot
inverted scale; MCD moving" avg—6-term)
'
39. Delinquency rate, 30 days and over, consumer installment loans
(percent—inverted scale) n~f[
93. Free reserves (bil. dol.—inverted scale)
MTU
94. Member bank borrowing from the Federal Reserve (bil. doi.)
B
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Con.
Chart B7. Money and Credit—Con.
[interest Rates
119. Federal funds rate (percent)
116. Corporate bond yields (percent)
115. Treasury bond yields (percent)
117. Municipal bond yields (percent)
-/fr
118. Secondary market yields on FHA mortgages
(percent)
.
.
[lg,lg>lg|
Current data for these series are shown on pages 72
and 73.
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Con.
Chart B7. Money and Credit—Con.
Interest Rates-Con.
67. Bank rates on short-term business loans (percent)
109. Average prime rate charged by
Outstanding Debt
66. Consumennstallment debt (bil. dol.)
Lg,
72. Commercial and industrial loans outstanding,
weekly reporting large commercial
banks (bil. dol.)
Current data for these series are shown on page
95. Ratio, consumer installment debt to personal income (percent)
g,Lg,lg|
73.
DIFFUSI
'MDEXES AND RATES OF CHANGE
Chart Cl. Diffusio
^u. Twelve leading indicator components (6-mo. span——, 1-mo. span—)
951. Four roughly coincident indicator components (6-mo. span—, 1-mo. span—)
,' i/;;
III
. i jU
1
;/l /
,
PJW sip
j
if
- ~ ! jj
!
-
|{l/Mi 1
1i ui
952. Six lagging indicator components (6-mo. span—, 1-mo. span—)
961. Average workweek, production workers, manufacturing—20 industries (9-mo. span—, 1-mo. span—)
962. Initial claims, State unemployment insurance—51 areas (percent declining; 9-mo. span—, 1-mo. span —)
963. Employees on private nonagricultural payrolls—172 industries
http://fraser.stlouisfed.org/
Current data for these series are shown on page 74.
Federal Reserve Bank of St. Louis
(6-mo. span—, 1-mo. span—)
DIFFUSION INDEXES AND RATES OF CHANGE—Con.
Chart Cl. Diffusion Indexes—Con.
964. New orders, durable goods industries-35 industries (9-mo. span—, 1-mo. span—)
965. Newly approved capital appropriations, deflated—17 industries (4-Q moving avg.•-*-», 1-Q span-—)
966. Industrial production—24 industries (6-mo. span—, 1-mo. span—)
967. Industrial materials prices—13 industrial materials (9-mo. span—, 1-mo. span
968. Stock prices, 500 common stocks—54-82 industries
(9-mo. span—, 1-mo. span
960. Net profits, manufacturing-about 700 companies1
1955 56 57 58 59 60 61 62 63 64
1
This is a copyrighted series used by permission; it may not be reproduced without
Current data for these series are shown on page 75.
65
66
67
68
69
70
written permission from Dun & Bradstreet, Inc
)
)
(4-Q span)
72
73
74
75
76
77
78 1979
DIFFUSION INDEXES AND RATES OF CHANGE—Con.
Chart Cl. Diffusion Indexes—Con.
970. Business expenditures for new plant and
equipment—18 industries (1-Q span)
(a) Actual expenditures
974. Number of employees, manufacturing and trade (4-Q span)1
(b) Later anticipations
975. Level of inventories, manufacturing and trade (4-Q span)1
(a) Actual expenditures
(c) Early anticipations
971. New orders, manufacturing (4-Q span)1
976. Selling prices, manufacturing (4-Q span)1
972. Net profits, manufacturing and trade (4-Q span)1
977. Selling prices, wholesale trade (4-Q span)1
973. Net sales, manufacturing and trade (4-Q span)1
978. Selling prices, retail trade (4-Q span)1
"*" "'
• -" • "•.«. ' jr-c • --—-
-g^*«.j
....^j - - -
/ > /J5sr*8 A . '
^i-^-7^%.f^5^-'
... .••*•••
•
/'JMr\S •.
Digitized^ for
FRASER
This is a copyrighted series used by permission; it may not be reproduced without
http://fraser.stlouisfed.org/
business executives.
Current data for these series are shown on page 76.
Federal Reserve
Bank of St. Louis
written permission from Dun & Bradstreet, Inc. Dun & Bradstreet diffusion indexes are based on surveys of about 1,400
DIFFUSION INDEXES AND RATES OF CHANGE—Con.
Chart C3. Rates of Change
Percent changes at annual rate
.i.955 56 57 58
910c. Composite index of twelve leading indicators
(series 1, 3, 8, 12, 19, 20, 29, 32, 36, 92, 104, 106)
920c. Composite index of four roughly coincident indicators
(ser^41, 47,51, 57) t
930c. Composite index of six lagging indicators
(series 62, .70 72, ,91, 95, 109)"™ 7
50c. GNP in constant (1972) dollars (1-Q span)
47c. Index of industrial production
51c. Personal income less transfer payments in 1972 dollars
59
C3
.'9
70
:i
72
73
74
>5
"6
77
78 1979
0V''"-*•: m^-^', " ' " - 7
A|
:--
NATIONAL INCOME AND PRODUCT
Chart Al. GNP and Personal Income
200. GNP in current dollars, 0 (ann. rate, bil. dol.)
http://fraser.stlouisfed.org/
Current data for these series are shown on pages 63 and 80.
Federal Reserve Bank of St. Louis
223. Personal income in current dollars
(ann. rate, bil. dol.)
224, Disposable personal income in current
dollars, 0 (ann. rate, bil. dol.)
213. Final sales in 1972 dollars, Q (ann. rate, biJ. dol.)
BilBQsafc4y3ersona!
227. JPiLca^ta disable personal income in
1972 dollars, Q (ann. rate,1hous. dol.)
A
NATIONAL INCOME AND PRODUCT—Con.
Chart A2. Personal Consumption Expenditures
Annual rate, billion dollars (current)
Persona! consumption expenditures-
http://fraser.stlouisfed.org/
Current data for these series ate
Federal Reserve Bank of St. Louis
Annual rate, billion dollars (1972)
239. Services, Q,
shown on pages 80 and 81.
A
NATIONAL INCOME AND PRODUCT—Con.
Chart A3. Gross Private Domestic Investment
Annual rate, billion dollars (current)
Gross private domestic investment—
Annual rate, billion dollars (1972)
30. Change in business inventories, Q
1955 56
57
58
59
60
61
Current data for these series are shown on page 81.
62
63
64
65
66
67
68
69
70
71
71
73
74
75
76
77
78 1979
A
NATIONAL INCOME AND PRODUCT—Con.
Chart A4. Government Purchases of Goods and Services
Annual rate, billion dollars (current)
Government purchases of goods and services—
266. State and local
governments, Q
Annual rate, billion dollars (1972)
261. Total, Q
267. State and local governments, Q
ihown on page 81.
NATIONAL INCOME AND PRODUCT—Con.
Chart A5. Foreign Trade
Annual rate, billion dollars (current) -<
252. Exports of goods and services,
\
253. Imports of goods and services, Q
250. Net exports of goods and services, Q
Annual rate, billion dollars (1972)
256. Exports of goods and services, Q
257. Imports of goods and services, Q
255. Net exports of goods and services, Q
1955 56
57
58
59
60
Current data for these series are shown on page 82.
61
6.2 63
64
65
66
87
68
69
70
71
72
73
74
75
76
77
78 1979
A
NATIONAL INCOME AND PRODUCT—Con.
Chart A6. National Income and Its Components
Annual rate, billion dollars (current)
220. National income, Q
280. Compensation of employees, Q
286. Corporate profits with inventory valuation and capital consumption adjustments, Q
Current data for these series are shown on page
282. Proprietors' income with inventory valuation
and capital consumption adjustments, Q
288. Net interest, Q-^
284. Rental income of persons with capital
consumption adjustment, Q
82.
A
NATIONAL INCOME AND PRODUCT—Con.
Chart A7. Saving
http://fraser.stlouisfed.org/
Current data for these series are shown on pages 82 and
Federal Reserve Bank of St. Louis
[Annual rate, billion dollars (current)
290. Gross saving (private and government), Q
298. Government surplus or deficit, Q
83.
A
NATIONAL INCOME AND PRODUCT—Con.
Chart A8. Shares of GNP and National Income
^ercent
235. Personal consumption expenditures, Q
265. Federal Government purchases of goods and services, Q
268. State and local government purchases
of goods and services* Q...,.,....„.
\
248. Nonresidential fixed investment, Q
249. Residential fixed investment, Q
251. Net exports of goods and services, Q
247. Change in business inventories, Q
Percent of National Income
64. Compensation of employees, Q
283. Proprietors' income with inventory valuation
and capital consumption adjustments, Q
\
287. Corporate profits with inventory valuation and
capital consumption adjustments, Q
289. Net interest, Q
\
285. Rental income of persons with capital consumption adjustment, Q'
http://fraser.stlouisfed.org/
Current data for these series are shown on page 83.
Federal Reserve Bank of St. Louis
B
PRICES, WAGES, AND PRODUCTIVITY
Chart Bl. Price Movements
index: 1972= IQPl ......
Percent changes at annual rate
310c. Implicit price deflator,
310. Implicit price deflator, GNP,
311c. Fixed weighted price i
product (1-Q span)
Producer prices—
330c.. All. cornrnoditifis
Producer prices—
330. All commodities
333. Capital equipment
http://fraser.stlouisfed.org/
Current data for these series are shown on pages 84, 85,
Federal Reserve Bank of St. Louis
and 86.
334c. Finished consumer goods
16-month spans
B
PRICES, WAGES, AND PRODUCTIVITY—Con.
Chart Bl. Price Movements—Con.
Consumer prices-
Percent changes at annual rate
320c. All items (6-month span)
Chart B2. Wages and Productivity
345. Average hourly compensation, all employees,.
nonfarm business sector,
340. Average hourly earnings of production workers,
private nonfarm economy (current dollars)1
1
Adjusted for overtime (in manufacturing only) and interindustry
http://fraser.stlouisfed.org/
Current data for these series are shown on pages 84. 87, and 88.
Federal Reserve Bank of St. Louis
346. Real average hourly
nonfarm business sector,
78
employment shifts and seasonality.
1979
B
PRICES, WAGES, AND PRODUCTIVITY—Con.
Chart B2. Wages and Productivity—Con.
I Wages—Con. |
., .. .,.
Change in average hourly earnings of production
workers, private nonfarm economy1 —
340c. Current-dollar earnings /^fvtl
341c. Real earnings
^
Change in average hourly compensation, all employees,
nonfarm business sedor, Q—
345c. Current-dollar compensation
6-month spans (ann. rate) T
j
jj
1-quarter spans (ann. rate)
XA._
-A
4-quarter spans
346c. Real compensation _
1-quarter spans (ann. rate)
4-quarter spans
Negotiated wage and benefit decisions, all industries—
348. First year average changes, Q (ann. rate)
349. Average changes over life of
contract, Q (ann. rate)
,
| Productivity
370. Output per hour, all persons,
private business sector, Q
358. Output per hour, all persons, nonfarm business sector, Q
,
-*•
,*,
A
370c. Change in output per hour, private business sector, Q
11
/ \
•
•I
/ ' A
1-quarter spans (ann. rate)
1-UUdllCl 5Udllb I dill
,'
*
»
4-quarter spans
^ Adjusted for overtime (in manufacturing only) and interindustry employment shifts and seasonality. 2one-month percent changes have been multiplied
http://fraser.stlouisfed.org/
against the background of the annualized changes over 6-month spans. See the current data table for actual 1-month percent changes.
Current
data for
series are shown on pages 87 and 88.
Federal Reserve
Bank
of these
St. Louis
by a constant (12) so that they may be show
C
LABOR FORCE, EMPLOYMENT, AND UNEMPLOYMENT
Chart Cl. Civilian Labor Force and Major Components
441. Civilian labor force, total (millions)
Labor force participation rates (percent)—
453. Both sexes 16-19 years of age
452. Females 20 years and over
Number unemployed (millions)—
37. Total unemployed
444. Males 20 years and over
445. Females 20 years
and over
446. Both sexes 16-19 years of
448. Number employed part-time for economic
reasons (millions)
Current data for these series are shown on page
89.
447. Number unemployed, full-tjme
workers (millions)
D
GOVERNMENT ACTIVITIES
Chart Dl. Receipts and Expenditures
1955 56 57 58 59 60
Current data for these series are shown on page
Annual rate, billion dollars (current)
502. Federal Government expenditures, Q
501. Federal Government receipts, 0
500. Federal Government surplus or deficit, Q
511. State and local government receipts, Q
\
51Z State and local government
expenditures, Q
510. State and local government surplus or deficit, Q
61
90.
62
63
64
65
66
67
68
69
70
71
73
74
75
76
77
78 1979
D
GOVERNMENT ACTIVITIES—Con.
Chart D2. Defense Indicators
| Advance Measures of Defense Activity |
Current data for these series are shown on page 90.
517. Defense Department gross obligations incurred
(bil. dol.; MCD moving avg.-6-term)
525. Defense Department military prime contract awards
(bil. dol.; MCD moving avg.—6-term)
543. Defense Department gross unpaid obligations outstanding (bii. dol.)
J
548. Manufacturers' new orders, defense products
(bil. dol.; MCD moving avg.—6-term)
D
GOVERNMENT ACTIVITIES—Con.
Chart D2. Defense Indicators—Con.
| Intermediate and Final Measures of Defense Activity|
data for these series are shown on page
Digitized forCurrent
FRASER
557. Output of defense and space equipment (Index: 1967=100)
559. Manufacturers' inventories, defense products (bil. dol.)
561. Manufacturers' unfilled orders, defense products (bil. dol.)
580. Defense Department net outlays, military functions and military
assistance (bil. dol.; MCD moving avg.—4-term)
588. Manufacturers' shipments, defense products
(bil. dol.; MCD moving avg.-4-term)
91.
D
GOVERNMENT ACTIVITIES—Con.
Chart D2. Defense Indicators—Con.
[intermediate and Final Measures of Defense Activity—Con.|
570. Employment in defense products industries (millions)
Defense Department personnel (millions)—
577. Military, active duty
578. Civilian, direct hire employment
| National Defense Purchases]
Current data for these
564. Federal Government purchases of goods and services for national
defense, Q (ann. rate, bil. dol.)
565. National defense purchases as a percent of GNP, Q (percent)
series are shown on page 91.
E
U.S. INTERNATIONAL TRANSACTIONS
Chart El. Merchandise Trade
602. Exports, excluding military aid shipments
(bil. dol.; MCD moving avg.—5-term)
<
604. Exports of agricultural products,
total (bil. dol.)
606. Exports of nonelectrical machinery (bil. dol.)
Current data for these series are shown on page 92.
612. General imports (bil. dol.; moving avg.-4-term)
614. Imports of petroleum and petroleum
products (bil. dol.)
616. Imports of automobiles and parts (bil. dol.)
E
U.S. INTERNATIONAL TRANSACTIONS—Con.
Chart E2. Goods and Services Movements
Annual rate, billion dollars
fc^^l
I
Excess of receipts
I Excess of payments
Goods and services—
667. Balance on goods and services, Q
622. Merchandise trade balance
NOTE: Annuai totals are shewn for the period prior to
Current data for these series are shown on page 93.
651. Income on U.S. investments abroad, Q
X
652. Income on foreign investments in the U.S., Q
1960.
F
INTERNATIONAL COMPARISONS
Chart Fl. Industrial Production
Index: 1967=100
Industrial production—
Digitized forCurrent
FRASER
data for these series are shown on page
728. Japan -*y
721. OECD European countries \
725. West Germany-
94.
F
INTERNATIONAL COMPARISONS—Con.
Chart F2. Consumer Prices
Percent changes at annual rate
Chart F3. Stock Prices
6-month spans
Stock prices—
Consumer prices—
19. United States
320c. United States
748.
735c. West Germany
736c. France
742. United Kingdom
732c. United Kingdom
737c. Italy
733c. Canada
Current data for these series are shown on pages 95 and 96.
Index: 1967=100
CYCLICAL INDICATORS
COMPOSITE INDEXES AND THEIR COMPONENTS
^M COMPOSITE INDEXES
Year
and
month
910. Index of
12 leading indicators (series
1,3,8, 12, 19,
20,29,32,36,
92, 104, 106)
920. Index of
4 roughly
coincident indicators (series
41,47,51,57)
930. Index of 6
lagging indicators (series
62, 70, 72,
91,95, 109)
Lead ng Indicator Subgroups
913. Marginal
employment
adjustments
(series 1,2,3,
5)
914. Capital
investment
commitments
(series 12,20,
29)
915. Inventory
investment
and purchasing
(series 8, 32, 36,
92)
(1967=100)
917. Money
and financial
flows (series
916. Profitability (series
19, 26, 80)
940. Ratio,
coincident
index to
lagging index
104, 106, 110)
(1967=100)
(1967=100)
(1967=100)
102.3
102.7
104.1
94.5
94.4
94.9
141.2
142.2
143.3
111.7
112.5
113.3
105.0
104.7
103.8
95.1
95.6
96.3
143.3
142.2
142.5
106.3
106.1
105.0
96.7
96.2
97.0
112.4
114.8
114.6
103.0
103.3
103.8
97.0
0)97.2
96.1
144.8
146.9
148.2
105.2
104.3
103.8
129.4
131.1
131.7
97.4
98.0
98.7
115.0
115.7
116.6
104.3
103.8
104.3
94.9
94.0
92.7
148.8
148.8
148.5
103.4
102.7
103.0
134.0
135.0
136.9
134.1
135.9
137.2
97.6
97.2
98.3
115.4
115.9
115.0
104.8
105.9
106.3
90.9
89.4
90.4
148.5
148.0
147.4
99.9
99.3
99.8
141.5
141.8
142.5
139.3
139.5
140.1
137.8
140.0
142.0
99.0
98.0
97.8
114.9
115.0
116.1
106.9
107.2
106.9
92.1
93.8
94.1
147.5
147.8
148.5
101.1
141.2
142.0
142.9
140.5
141.4
141.4
143.5
144.5
146.4
97.4
97.3
98.5
115.5
115.4
rl!6.0
105.2
105.8
105.8
94.2
95.4
95.4
148.9
149.1
149.9
97.9
97.9
96.6
143.1
144.4
145.5
148.1
H52.7
H55.2
H)rH7.2
116.3
115.9
106.1
106.2
106.7
94.9
94.0
93.4
150.2
0)150.4
149.1
(1967-100)
(1967=100)
(1967-100)
(1967=100)
(1967=100)
131.9
133.0
135.6
126.3
127.6
129.7
120.2
121.0
121.7
95.9
96.6
98.0
110.9
111.2
112.0
136.0
135.8
135.5
130.0
130.6
131.3
122.3
123.1
125.0
97.3
97.1
97.2
135.0
136.9
138.0
131.7
131.9
132.6
125.2
126.5
127.8
139.1
139.4
140.2
133.8
134.7
135.7
January
February
March
139.1
140.3
140.3
April
May .
June
July
August
September
1977
January
February
March
April
May
June
. ...
July
August
September
October
November
December
. ...
105.1
105.5
0)106.6
1978
October
November
December
D143.7
143.2
143.3
98.5
0)99.4
99.2
99.6
98.7
96.6
r94.6
r93.8
1979
January
February
March
r!42.6
142.7
H43.0
144.8
144.9
[0)146.8
157.5
158.5
H58.5
99.1
99.0
98.5
rl!3.9
114.4
115.8
107.4
108.1
0)108.6
93.1
92.1
92.1
146.5
143.8
H40.8
91.9
91.4
92.6
April
May
June
r!39.7
r!39.8
139.4
144.2
145.7
r!45.0
H61.9
rl62.5
H64.0
95.0
97.6
96.1
rl!4.0
H13.7
rl!4.5
H07.7
107.2
r!06.3
r92.2
r!40.7
r!39.3
H39.6
r89.1
r89.7
r88.4
July
August
September
2
M39.1
139.1
3
145.0
143.7
165.5
0)^167.7
r96.3
P95.1
rl!2.8
pl!3.6
H05.6
p!05.1
H40.5
pi 41. 8
r87.6
p85.7
91.6
(NA)
October
November
December
NOTE: Series are seasonally adjusted except those series that appear to contain no seasonal movement. Unadjusted series are indicated by (u). Current high values are indicated by0); 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 shown at the back of the book. 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.
'•Excludes series 12 for which data are not yet available.
2
Excludes series 12 and 36 for which data are not yet available.
3
Excludes series 57 for which data are not yet available.
**Excludes series 70 and 95 for which data are not yet available.
60
SEPTEMBER 1979
CYCLICAL INDICATORS
B I
CYCLICAL INDICATORS BY ECONOMIC PROCESS
MAJOR ECONOMIC
PROCESS
BB EMPLOYMENT AND UNEMPLOYMENT
Minor Economic
Process
Timing Class
Year
and
month
L,L,L
L, L, L
L, C, L
2. Accession
21 . Average
weekly overtime rate, manufachours, produc- turing
tion workers,
manufacturing
1 . Average
workweek of
production
workers,
manufacturing
(Per 100 employees)
(Hours)
(Hours)
L, Lg, U
L, C, L
L, L, L
5. Average
weekly initial
claims, State
unemployment
insurance 1
3. Layoff rate,
manufacturing
4. Quit rate,
manufacturing
(Per 100 employees)
(Per 100 employees)
(Thous.)
Comprehensive
Employment
Job Vacancies
Marginal Employment Adjustments
L, Lg, U
L, Lg, U
60. Ratio, helpwanted advertising to persons
unemployed
46. Index of
help-wanted
advertising
in newspapers
(Ratio)
(1967=100)
U, C , C
48. Employeehours in nonagricultural
establishments
(Ann. rate,
bil. hours)
1977
January
February
March
39.7
40.3
40.4
3.3
3.3
3.4
4.0
4.4
4.1
386
431
329
1.3
1.4
1.1
1.9
1.9
1.8
0.439
0.434
0.450
105
106
108
152.25
154.82
154.81
April
May
June
40.4
40.4
40.5
3.5
3.4
3.5
3.9
3.9
3.9
358
378
363
1.1
1.1
1 .2
1.8
1.9
1.8
0.467
0.484
0.484
109
112
114
155.34
156.07
156 46
July
August
September
40 3
40.3
40.3
3 5
3.4
3.4
3.9
3.7
3.9
382
391
377
1 .2
1 .3
1.1
1 .8
1.8
1.9
0 537
0 535
0 539
121
122
120
156 84
156 92
157 54
October
November
December
40 5
40.5
40.5
3 5
3.6
3.6
4 0
4.1
4.4
372
349
331
1 1
1.0
1 .0
1 .9
2.0
2.0
0 573
0.597
0 674
128
133
140
158 16
158.36
158 28
January
February
March
39 8
40 1
40 6
3 5
3 7
3 7
4 2
4 0
3 9
331
370
[H}320
0 9
0 9
1 0
2 0
2 0
2 0
0
0
O
£OC
138
139
141
157.94
159.36
160.99
April
May
June
40 8
40.4
4 2
4.0
•3 q
330
328
346
0 9
1.0
i n
2 2
2.1
2 1
0
717
R
3 8
3.5
3 g
0.696
n 7/ifi
146
144
147
162 53
162.11
163 14
July
August
September
40 5
40.3
40.4
3 6
3.4
3.6
3 8
3.8
4.1
375
361
328
0 9
0.9
0.8
2 0
1 .9
2.0
0718
0 752
0.759
149
150
152
163 24
163 20
163.45
October
November
December
40 5
40 7
40.7
3 6
3.7
3.8
4 4
JH) 4 5
4.4
325
334
325
0 9
0 8
0.9
2 3
2 2
2.2
[u\ n R?I
O pi £
0.817
161
161
0)165
164 00
165 51
165.64
40.7
40.7
H)40.8
3.8
3.8
[H>3.8
4.4
4.3
4.1
344
341
352
0 8
H> 0.8
0.9
2 3
[H)2.3
2.2
0815
0 800
0.791
161
158
156
165 87
166 20
167.59
39 2
40 2
40.1
2 8
3 4
r3.2
3 9
4 1
3,8
438
352
390
1.0
1.0
1.3
2 1
2 0
2.0
0.777
0.773
0.789
155
154
153
164.96
166.84
T167.54
1. 1
pi .6
1 .9
pi. 9
0.789
pO.750
155
p!55
[u\rl67.72
^ p!67.39
1978
/LO
£7Q
cpo
1979
January
February
March
April
May
June
July
August
September
40 2
o o
o 7
i^.OQQ
nAPl D
p3.3
p3.6
p396
rjyo
October
November
December
NOTE: Series are seasonally adjusted except those series that appear to contain no seasonal movement. Unadjusted series are indicated by@. Current high values are indicated by[H); for
senes that move counter to movements in general business activity, current low values are indicated by|H). Series numbers are for identification only and do not reflect series relationships
or order. Complete titles and sources are shown at the back of the book. The "r" indicates revised; "p", preliminary; "e", estimated; "a", anticipated; and "NA", not available.
Graphs of these series are shown on pages 12, 16 and 17.
Data exclude Puerto Rico which is included in figures published by the source agency.
http://fraser.stlouisfed.org/
Federal Reserve Bank of St.SEPTEMBER
Louis
1979
IIUI
R1
CYCLICAL INDICATORS
B
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Con.
MAJOR ECONOMIC
PROCESS
Qj EMPLOYMENT AND UNEMPLOYMENT-Con.
Minor Economic
Process
Timing Class
Year
and
month
Comprehensive Unemployment
Comprehensive Employment-Con.
U, C, C
42. Persons
41. Employees
engaged in non- on nonagriculagricultural
tural payrolls,
activities, labor establishment
force survey
survey
(Thous.)
L, C, U
U, Lg,U
L, Lg, U
L, Lg, U
L, Lg, U
Lg, Lg, Lg
Lg, Lg, Lg
40. Employees
in goodsproducing industries (mining, mfg., construction)
90. Ratio,
civilian employment to total
population of
working age
37. Number of
persons unemployed, civilian
labor force
43. Unemployment rate,
total
45. Average
weekly insured unemployment rate
State programs 1
91. Average
duration of
unemployment
44. Unemployment rate,
persons unemployed 15
weeks and over
(Thous.)
(Percent)
(Thous.)
(Percent)
(Percent)
(Weeks)
(Percent)
C,C,C
(Thous.)
1977
January
February
March
85 529
85 860
86 312
80 483
80 796
81 264
23 635
23 804
24 032
April
May
June
86 544
86 81 7
87 209
81 654
pi
56 84
cc qp
82 277
24 205
OA TDZL
?d Arn
July
August
September
87 407
87 684
87 999
op
October
November
December
88,136
88,839
89,257
January
February
March
qq/l
56 33
7115
CC
7 ?nR
7 ] ci
C1
56 73
C7
A 1
A I
o p
1r
o 7
o 7
q 7
1/1 C.
1 r rv
C
QAA
6
QQC.
7 o
7 •)
1 1
7 nnp.
7 9
6 .y
o
1/1
1 4 . 0Q
1/1 £
1b. U
U . qO
3 . 00
4 . riU
4
H-i
. 1
7/ .nU
6P
6 654
6 635
6,187
6 8
6 7
6.3
4 0
3 8
3.7
1? 7
iq c
6 292
6,092
fi ?
6.1
ACC
OA
A OA
C7
-I n
r
7nA
oo cnq
OA
O7C
C7
pi
r
7QC
PP
OA
AA~\
C7 01
S
CO A
83 199
83 549
83,719
24 507
24 617
24,626
57 35
57 80
57.95
89 560
89,767
89 948
83 871
84,188
84 726
24 648
24,724
24 927
58 10
58.11
58 1 9
April
May
June
90 430
90 71 0
91 216
85 418
25 31 3
cp op
PC
C.~\ 0
PC
OA-]
cp AC
pc qqc
pc
Ajo
co pi
C
July
August
September . . .
91 069
91 ,372
91 ,604
86 033
86 149
86 163
25 501
25 463
25 471
58 61
58 71
58 80
c. i 7C
5 940
5 964
07-3
7 &
7 R
7 A
Q
A
. 0
10 Q
1 O. 0
10 Q
i o. y
q
2 .0
2 9
. L
2 - \
o<L . U
n
0
2.U
i .y
1 Q
1 .9
1 .9
1.8
13.7
iP
l R
1.7
0 C
iqn
1 7
3.6
12.6
1.6
q A
19/1
1
1978
October
November
December
91 867
92,476
92 468
86 573
87 036
87 281
25 670
25 872
26 030
58 85
59 09
59 08
C
1 CO
r
6
1
q I
1 9 / 1
1 C
1 .0
1 £,£
r
-|
19 9
1 <L . L
PC/I
5
p
q rv
0. U
q -]
1.4
i
1 .q
0
C
1
q q
5 9
5 9
3 5
np
11 A
3 2
11
E,
q n
3 0
n
p
q 1
11 n
in 7
3 . rvU
n .c
c r\co
6
c o
5 836
5 877
c mo
c
p
5 8
c q
19
1 ^ .n
0
1
"5
1 9
1 ?
1 ^
1 9
1 o
1979
January
February
March
qq n.60.
93 335
April
May
June
92 987
93 1 34
93 494
88 248
88 539
r88 764
[H)93,949
93,578
r88,813
[tr>D88 81 5
July
August
September
qq
/I qq
07
CO A
OC
11 1
O7
0] 0
OC
1 QQ
pp
oc q
OC
/M O
26
351
26 423
rOC
400
[H>26,44!
p26 286
cq op
cq A o
[Lj\c,q AC
5 0
5 7
c
poq
c
ppi
c
P71
c 7
59 00
59 00
59 1 9
5 937
5 929
[LJ\C 774
5 8
5 8
rrixc c
[H/3 . D
3 ]
nnxp
p
[H/^-.o
q n
59,39
59 12
5,848
6 149
5,7
6 0
r2.9
p3 0
o 0n
J.
3. U
0
o
11.3
1.2
1 .2
1.3
11 0
1 2
n
n
7
i
in A
H)io.o
10 5
1
9
i i
0)1.0
1 2
October
November .
December
NOTE: Series are seasonally adjusted except those series that appear to contain no seasonal movement. Unadjusted series are indicated by ®. Current high values are indicated by |H); tenseries that move counter to movements in general business activity, current low values are indicated by [Fj). Series numbers are for identification only and do not reflect series relationships or
order. Complete titles and sources are shown at the back of the book. The "r" indicates revised; "p", preliminary; "e", estimated; "a", anticipated; and "NA", not available.
Graphs of these series are shown on pages 14, 15, 17, and 18.
x
Data exclude Puerto Rico which is included in figures published by the source agency.
http://fraser.stlouisfed.org/
Federal Reserve
R9 Bank of St. Louis
CYCLICAL INDICATORS
B
CYCLICAL INDICATORS BY ECONOMIC PROCESS —Con.
MAJOR E C O N O M I C
PROCESS
Qj PRODUCTION AND INCOME
Minor Economic
Process
C,C, C
Timing Class
Year
and
month
Industrial Production
Comprehensive Output and Income
C,C,C
50. Gross national product
in 1972 dollars
Persona income
52. Constant
(1972) dollars
223. Current
dollars
(Ann. rate,
bil.dol.)
(Ann. rate,
bil.dol.)
(Ann. rate,
bil.dol.)
C, C , C
C,C,C
51. Personal
income less
transfer payments in 1972
dollars
53. Wages and
salaries in
mining mfg
and construction in 1972
dollars
(Ann. rate,
bil.dol.)
(Ann. rate,
bil.dol.)
C,C,C
C,C,C
47. Index of
industrial
production
total
(1967-100)
c,c, c
C,L,L
73. Index of
industrial
production,
durable manufactures
74. Index of
industrial
production,
nondurable
manufactures
(1967=100)
(1967=100)
49. Value of
goods output
in 1972 dollars
(Ann. rate,
bil.dol.)
1977
January
February .
March
1 315 7
1 455 2
1 472 0
1 490 3
1 066 1
1 070 5
1 079 1
918 2
993 o
930 9
224 6
226 7
229 6
1 33 7
1 34 5
136 3
124 6
1 25 0
127 5
1465
1473
149 1
cnc; n
April
May
June
1 331 2
1 ,499.3
1 509 2
15186
1,081.0
1 084 2
1 085 5
932.5
937 5
940 7
230.1
231 2
9Q9 q
137.1
1 38 0
1 38 9
128.4
1 29 6
1 30 7
149.5
1 50 5
1 51 1
6106
July
August
September
1 537 0
1 547 7
1 560 7
1 OQA 7
qAc, i
oqq A
1 097 7
1 1 02 2
947 7
232 8
91A. R
1 39 0
1 39 3
1 ?1 ?
1 31 5
l ?? i
TCI
1 353 9
October
November
December
1 An i
i An Q
140.5
n 09
l co o
1 "361 ?
134.0
152.4
140.0
i1 4(J
A n. o
o
132.1
i
QC .U
n
1 ob
152.4
152.9
ICO Q
1 bJ .0
C 91
/I
0
61.4
. .
qC9
0
1 579 4
1 ill £.
qci c.
9qc q
1 RQfi Q
1
qCQ r\
9qc;
1,612.8
1,124.7
974.1
235.4
1,618.5
1,119.3
1
969.4
233.6
1
yQ79
id. . flu
9
OC .11
£ob
11 Q 1
1 ^Q
o
fi
T O O
o
fl
0
i m fi
1 CT
coo
c
7
1 c 9 /I
£9/1
9
1978
January
February
March
1
7£7 8
1
April
May
June
1,395\2
July
August
September
-)
October
November
December
o
1,426.*6
£C.A
q
A
1,676.5
1,687.3
1
nr\-j
r qi
70/1
O
1,730.0
191 9
i i in i
1 ,137.4
1,136.2
1 , 1 39 . 9
1,151.8
T
1 1 C/l
7
11 , 7/bo.
CC 1
I
-\ r c
n
~] c c
c
17/11
1 , i bo. y
1/19
989.6
988.7
993. 1
243.9
243.0
244. 0
144.4
144.8
146 ,1
137.6
137.9
1 39.0
155.5
155.8
157.0
637.'2
1,000.5
i1 ,UU£
nn9
.y Q
1 ,006 . 1
245.3
9/1/1
C
244. b
245. 1
147,1
i1 4o
A Q. n
U
141.1
641 . 8
1 48. 6
142 .9
157.2
1 58. 4
159.3
n nr
1 AQ 7
1 59 . 5
160.4
1C 1 7
1 6 1. /
657. ' 3
Q
i 7fn n
1 ,801 .4
1 C>9 C Q
1,174.3
US
0 Qy
rl/ 11 ,11Qoo.
1,u
m1 bc . nu
1 ,023.4
[Tj\ I r> 09 r
\r\} \ ,Uo£i . b
248.9
250 . 9
1 834 3
1,851.4
1 872 1
1 1 75 1
1,174.7
1 179 6
1 023 9
1,024.6
1 028 9
249 7
250.5
[H)251 9
1,880.7
rl 905 1
1 ,176.2
rl, 175.6
rl 1 7 5 3
1,024.6
rl, 024.1
rl 024 3
r?Afi o
rl >929 7
K>pl, 938,1
1 ,181 0
el, 176. 7
1 023 0
el, 018. 4
246 2
p242.9
1
11 0
9 .O
0
61
9/1 n. QO
£41)
Q Op)
n
245 . 4
1
1/11
14 1
m
. Qo
r
.D
150.6
145.5
1 r-|
n
1AC
1 CT
C
1 Afi 8
Q
1 4b .0
1979
January
February
March
April
May
June
0)1,430.6
rl , 4 2 2 . 3
July
August
September
r l,891.6
248.6
248.0
152.0
[u\l
co n
150.8
152.4
Y*~\ CO
/I
r!52.6
pi 50. 9
147.2
fuM AR
fi
144.6
r!47.6
1/17
£
H47.3
pi 44. 4
i An 7
162.0
[H)658.6
icq n
161 .7
162.8
r I bz . 7
r647'.3
1 r 9 -7
0)rl63.3
pi 62. 7
October
November
December
NOTE: Series are seasonally adjusted except those series that appear to contain no-seasonal movement. Unadjusted series are indicated by (u). Current high values are indicated by|H); for
?nries that move counter to movements in general business activity, current low values are indicated by (H). Series numbers are for identification only and do not reflect series relationships or
order. Complete titles and sources are shown at the back of the book. The "r" indicates revised; "p", preliminary; "e", estimated; "a", anticipated; and "NA", not available.
Graphs of these series are shown on pages 14, 19, 20, and 40.
http://fraser.stlouisfed.org/
SFPTFMRFR 1Q79
Federal Reserve Bank of St. Louis
IUII
63
CYCLICAL INDICATORS
B
CYCLICAL INDICATORS BY ECONOMIC PROCESS —Con.
MAJOR ECONOMIC
PROCESS
•• P R O D U C T I O N /^ND
n.
Minor Economic
Process
Timing Class
Qj CONSUMPTION, TRADE, ORDERS, AND D E L I V E R I E S
Capacity Utilization
L, C, U
. . ..
83. Rate of
capacity
utilization,
manufacturing
(BEA)
Year
and
month
(Percent)
82. Rate of
capacity
utilization,
manufacturing
(FRB)
(Percent)
Orders and Deliveries
L, C, U
84. Rate of
capacity
utilization,
materials
(Percent)
L, L, L
L, L, L
Value of manufacturers' new
orders, durable goods industries
6. Current
dollars
(Bil.dol.)
7. Constant
(1972) dollars
(Bil.dol.)
L, L, L
8. New orders
for consumer
goods and
materials in
1972 dollars
(Bil.dol.)
L, L, L
L, Lg, U
25. Change in
unfilled orders,
durable goods
industries
96. Manufacturers' unfilled
orders, durable
goods industries
(Bil.dol.)
(Bil.dol.)
L, L, L
32. Vendor
performance,
companies reporting slower
deliveries®
(Percent
reporting)
1977
January
February
March
80'.7
81 ' 7
55.91
55.74
58.58
37.15
36.87
38.49
33.95
34.58
36.15
1.35
0.46
0.60
166.86
167.32
167.92
44
55
56
82.1
83.2
57.98
58.27
59.01
37.92
37.94
38.27
34.96
34.96
35.39
1 .55
1 .27
1.39
169.46
170.73
172.12
58
56
58
82^4
82.'8
56.94
59.56
60.70
36.57
38.04
38.44
34.76
35.93
35.64
-0.69
1 .18
1 .44
171.43
172.61
174.05
59
58
56
82.* 6
83!o
63.23
63.07
65.98
39.82
39.52
41 .14
35.82
35.89
36.34
3.01
2.91
4.35
177.06
179.97
184.32
56
50
56
82.'6
82^6
62.61
65.54
68.14
38.62
40.11
41 .45
35.14
36.71
37.28
2.76
2.99
4.38
187.08
190.06
194.44
55
64
67
83*9
85^6
69.25
68.90
68.31
41.69
41 .23
40.57
38.47
37.65
37.33
3.69
3.88
2.72
198.13
202.01
204.73
64
64
66
85 '.2
86^4
65.94
70.59
72,40
38.85
41.23
42.07
36.38
37.97
37.67
0.83
2.62
3.92
205.56
208.18
212.10
56
65
66
86*.4
0)88 '.2
76.46
76.91
76.83
44 J 2
43.98
43.63
38.66
38.40
38.78
6.37
5.52
4.19
218.47
223.99
228.18
68
66
68
0)86^7
8s!o
79.65
81 .31
0)83.09
44.64
45.17
0)45.78
0)39.76
39.16
39,62
6.76
0)7.66
6.23
234.94
242.61
248.84
69
77
0)78
87 ',2
76.10
77,03
r75.82
r41.53
41.84
r40.98
r37.16
37.50
36.80
5.11
1.32
r3.18
253.95
255.27
0)r258.46
76
76
70
r72.48
p73.04
r38.76
p38.89
r35.80
p35.63
r-1 .04
p-0.97
r257.42
p256.44
60
55
*83
April
May
June
*84
July
August
September
. ...
*82
October
November
December
*82
1978
January
February
March
*84
April
May
June
*84
July
August
September
83
October
November
December
'84
1979
January
February
March
April
May
June
0)84
. ...
July
August
September
85'.9
83
October
November
December
NOTE: Series are seasonally adjusted except those series that appear to contain no seasonal movement. Unadjusted series are indicated by (u). Current high values are indicated by0); 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 shown at the back of the book. The "r" indicates revised; "p", preliminary; "e", estimated, "a", anticipated; and "NA", not available.
Graphs of these series are shown on pages 12, 20, and 21.
64
SFPTFMRPP 1Q7Q
IUII
CYCLICAL INDICATORS
B
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Con.
MAJOR ECONOMIC
PROCESS
H
^fl CONSUMPTION, TRADE, ORDERS, AND DELIVERIES-Con.
Minor Economic
Process
Formation of Business Enterprises
Consumption and trade
C, C , C
Timing Class
Manufacturing and trade sales
Year
and
month
56. Current
dollars
57. Constant
(1972) dollars
(Mil.dol.)
Revised
1977
C, L , C
C,C,C
C, L,U
U, L, U
75. Index of inSales of retail stores
dustrial production, consumer
59. Constant
54. Current
goods
(1972) dollars
dollars
(Mil.dol.)
(1967=100)
(Mil.dol.)
FIXED CAPITAL
INVESTMENT
(Mil.dol.)
L C,C
55. Personal
consumption
expenditures,
automobiles
L, L, L
58. Index of
consumer
sentiment ®
(Ann. rate,
bil.dol.)
(1stQ
1966=100)
L, L, L
12. Index of
net business
formation
(1967=100)
L, L, L
13. Number of
new business
incorporations
(Number)
1
213,574
217,003
221,956
143,799
145,055
147,331
141.4
142.1
144.5
57,405
58,474
58,917
41,598
42,098
42,265
62^4
87\S
122.7
122.2
123.6
34,519
33,173
35,300
April
May
June
221,241
222,422
223,249
146,165
146,463
147,128
144.6
145.2
146.3
59,254
59,367
59,203
42,294
42,284
42,048
6l!s
H)89J
121.7
122.6
125.1
33,394
34,442
37,229
July
August
September
223,686
225,400
226,879
147,250
147,992
148,272
146.8
146.5
146.4
60,176
60,566
60,973
42,618
42,742
42,909
6CK9
87\6
125.7
129.6
128.7
35,749
39,525
37,812
October
November
December
229,543
232,586
236,790
149,412
150,316
152,117
147.1
146.6
146.2
61,979
62,862
62,480
43,525
43,929
43,419
62^2
83J
130.8
132.3
133.6
38,943
38,344
39,674
January
February
March
232,439
238,873
242,926
148,120
151,295
153,432
143.2
145.2
147.5
61,892
62,898
64,075
42,655
43,051
43,648
62^3
83.7
84.3
78.8
133.6
133.7
130.5
36,547
39,253
37,602
April
May
June
249,868
251,588
252,380
156,316
156,223
156,183
149.5
149.0
149.3
65,146
65,522
65,964
43,988
43,916
43,947
70.*2
81.6
82.9
80.0
130.7
131.0
132.9
38,498
38,320
39,796
252,728
259,226
260,099
155,372
158,476
157,585
149.8
150.6
150.8
66,224
67,303
68,085
43,944
44,454
44,675
68.9
82.4
78.4
80.4
133.4
133.0
133.0
39,403
42,605
41 ,827
266,724
269,792
272,537
159,846
160,556
161,105
151.2
151.3
151.5
68,971
70,158
70,918
44,991
45,498
E)45,724
70*.6
79.3
75.0
66.1
0)135.5
133.6
133.5
January
February
March
273,304
274,579
285,372
160,181
159,086
[H)164,058
150.6
151.5
E>152.9
70,855
71,122
72,045
45,102
44,759
44,944
B>74.'6
72.1
73.9
68.4
131.3
132.3
132.1
42,777
42,048
42,087
April
May
June
275,936
287,139
283,388
71,366
71 ,914
r71,803
44,080
44,173
r43,756
r68.2
66.0
68.1
65.8
130.3
130.0
elSO.l
42,633
E)43,623
(NA)
January
February
March
..
1978
July
August
September
October
November
December
. .
41 ,945
41 ,568
42,461
1979
July
August
September
E>p287,496
(NA)
157,136
161 ,575
r!58,140
149.1
r!52.0
rl51.7
p!58,846
(NA)
r!50.9
p!47.7
r72,283
[H)p72,786
43,914
e43,821
60.4
64.5
(NA)
October
November
December
NOTE: Series are seasonally adjusted except those series that appear to contain no seasonal movement. Unadjusted series are indicated by (u). Current high values are indicated by[H); for
series that move counter to movements in general business activity, current low values are indicated by (H). Series numbers are for identification only and do not reflect series relationships or
order. Complete titles and sources are shown at the back of the book. The "r" indicates revised; "p", preliminary; "e", estimated; "a", anticipated; and "NA", not available.
Graphs of these series are shown on pages 12, 14, 22, and 23.
x
See "New Features and Changes for This Issue," page ill.
http://fraser.stlouisfed.org/
1979
Federal Reserve Bank of St.SEPTEMBER
Louis
65
CYCLICAL INDICATORS
B
CYCLICAL INDICATORS BY ECONOMIC PROCESS -Con.
MAJOR E C O N O M I C
PROCESS
MM
Minor Economic
Process
Timing Class
Business Investment Commitments
L, L, L
L, L, L
Contracts and orders for plant
and equ pment
Year
and
month
FIXED CAPITAL INVESTMENT-Con.
10. Current
dollars
(Bil.dol.)
20. Constant
(1972) dollars
(Bil.dol.)
L, L, L
Value of manufacturers' new orders,
capital goods industries, nondefense
24. Current
dollars
(Bil.dol.)
L, C, U
U, Lg, U
C, Lg, Lg
9. Construction contracts for commercial and industrial buildings, floor
space 1
1 1 . Newly
approved capital
appropriations,
1,000 manufacturing corporations
97. Backlog of
capital appropriations, manufacturing
(Bil.dol.)
(Bil.dol.)
L, L, L
27. Constant
(1972) dollars
(Bil.dol.)
Square feet
(Millions)
Square meters 2
(Millions)
1977
January
February
March
16.90
16.77
16.32
11.62
11.49
11.16
14.43
13.96
14.27
9.95
9.59
9.78
53.56
51.27
67.45
4.98
4.76
6.27
14^58
April
May
June
17.22
19.11
18.42
11.75
12.91
12.32
14.32
14.80
15.45
9.83
10.10
10.39
55.88
63.20
61.12
5.19
5.87
5.68
15.00
July
August
September
16.13
18.38
20.22
10.76
12.26
13.24
14.05
14.62
16.13
9.40
9.83
10.60
58.48
71.07
67.79
5.43
6.60
6.30
17.46
October
November
December
17.68
18.59
20.74
11.64
12.06
13.34
15.84
16.18
16.94
10.46
10.54
10.96
63.06
70.62
72.04
5.86
6.56
6.69
16^92
January
February
March
20.90
22.09
20.48
13.33
14.05
13.08
16.17
17.19
17.18
10.36
10.97
11.01
83.03
67.86
71 .94
7.71
6.30
6.68
17JO
April
May
June
19.04
21.11
19.78
12.08
13.25
12.38
17.28
17.61
17.61
11.00
11.16
11.10
76.71
88.41
83.27
7.13
8.21
7.74
15^08
July
August
September
21.47
r22.71
23.16
13.25
rl 3 . 86
14.08
17.45
18.36
19.84
10.90
11.35
12.18
74.82
79.21
86.38
6.95
7.36
8.02
16J4
October
November
December
25.45
24.58
22.84
15.28
14.75
13.53
21.03
20.75
19.13
12.81
12.64
11.50
84.55
91 .08
81.48
7.85
8.46
7.57
-\8'.62
21 .41
22.87
0)23.98
12.83
13.79
0)14.84
88.51
0)105.49
102.77
8.22
0)9.80
9.55
0)22^58
p2K41
49. *28
50.68
53.94
56. '50
1978
59.73
59^94
60^78
63^28
1979
January
February
March
25.02
25.99
0)27.29
14.80
15.48
DIG. 62
April
May
June
25.38
22.50
r25.06
14.81
13.06
H4.55
20.77
20.96
r21.75
12.33
12.24
r!2.81
93.59
87.09
84.08
8.69
8.09
7.81
July
August
September
r23.50
p22.70
H3.34
p!3.16
r20.23
p!9.91
rll.63
pi 1.70
88.48
83.85
8.22
7.79
68.' 61
0)P70!S5
October
November
December
NOTE: Series are seasonally adjusted except those series that appear to contain no seasonal movement. Unadjusted series are indicated by (u). Current high values are indicated by0); 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 shown at the back of the book. The "r" indicates revised; "p", preliminary; "e", estimated; "a", anticipated; and "IMA", not available.
1
Graphs of these series are shown on pages 12, 23, and 24.
This is a copyrighted series used by permission; it may not be reproduced
2
without written permission from McGraw-Hill Information Systems Company, F.W. Dodge Division.
Converted to metric units
by the Bureau of Economic Analysis.
FRASER
Digitized for
66
SEPTEMBER 1979
CYCLICAL INDICATORS
B
CYCLICAL INDICATOR^ BY ECONOMIC PROCESS -Con.
MAJOR E C O N O M I C
PROCESS
^J FIXED CAPITAL INVESTMENT-Con.
Minor Economic
Process
RE sidential Construction
Com nitmentsand Investment
Business Investment Expenditures
Timing Class
Year
and
month
C, Lg, Eg
C, Eg, Lg
61. Business
expenditures
for new plant
and equipment,
total
39. Machinery
and equipment
sales and business
construction
expenditures
(Ann. rate,
bil.dol.)
(Ann. rate,
bil.dol.)
C, Lg,U
C, Lg,C
Lg, Lg, Lg
C, Lg,C
76. Index of
Nonresidential fixed investment in 1972 dollars
industrial production, business
equipment
86. Total
87. Structures
88. Producers'
durable equip.
(1967=100)
(Ann. rate,
bil.dol.)
(Ann. rate,
bil.dol.)
(Ann. rate,
bil.dol.)
L, L, L
28. New
private housing
units started,
total
(Ann. rate,
thous.)
L, L, L
29. Index of
new private
housing units
authorized by
local building
permits
(1967=100)
L, L, L
89. Residential
fixed investment, total, in
1972 dollars
(Ann. rate,
bil.dol.)
1977
January
February . .
March
130J6
181 .50
183.15
188.92
142.1
142.8
143.2
126.3
37.5
88*8
1,519
1,856
2,064
124.6
134.5
143.1
53*5
April
May
June
134.24
188.58
192.25
188.88
146.0
147.1
148.2
128^3
39.6
89 .*3
1,883
1,985
1,907
143.1
143.8
151 .0
57.9
July
August
September
140^38
195.08
198.96
201 .12
149.1
149.9
151 .0
13CL8
39^9
90.9
2,062
2,023
1,982
145.4
153.4
144.3
59.'3
October . .
November .
December
138J1
204.15
205.05
205.76
150.8
150.8
152.3
13l".7
40.1
91 ! 5
2,078
2,041
2,151
151 .5
152.7
151 .2
60.1
January
February
March
144*.25
204.83
209.20
214.91
152.0
153.6
156.5
133!i
40 ' 2
93.0
1,744
1,659
2,011
139.2
137.7
140.7
59*4
April
May
June
150.'76
221.86
220.94
228.18
158.0
158.4
160.1
140.3
43^9
96*4
[H}2,176
2,037
2,093
154.6
141 .8
D160.2
E)60;9
July
August
September
155.'41
230.58
238.02
246.70
161.7
163.4
163.8
141*. 6
45. 'l
96^5
2,104
2,004
2,024
142.6
138.6
148.5
60*2
October
November
December
163^96
245.58
248.99
252.90
164,8
165.0
166.8
145!5
46^5
98^9
2,054
2,107
2,074
148.2
144.5
147.6
60.0
165*94
256.18
255.73
270.16
168.1
169.0
170.8
E>147'.2
E>ioi!3
1,679
1,381
1 ,786
117.2
115.1
130.9
57i7
0)173.48
258.54
266.54
r264.63
168.7
171 .4
r!71.6
H46.9
r99.0
1,745
1 ,835
rl ,923
122.5
130.7
132.4
r56!7
ra!75.29
0>p272.18
(NA)
0X171 .6
pi 70. 3
rl,791
pi ,783
123.4
133.6
1978
9
1979
January
February
March
April
May
June
...
July
August
September
October
November
December
45.8
H)r47i9
. .
ra!79.56
NOTE: Series are seasonally adjusted except those series that appear to contain no seasonal movement. Unadjusted series are indicated by (u). Current high values are indicated by |H); 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 shown at the back of the book. The "r" indicates revised; "p", preliminary; "e", estimated; "a", anticipated; and "NA", not available.
Graphs of these series are shown on pages 13, 24, and 25.
http://fraser.stlouisfed.org/
Federal Reserve Bank of St.SEPTEMBER
Louis
1979
ItCII
B7
CYCLICAL INDICATORS
B I
CYCLICAL INDICATORS BY ECONOMIC PROCESS -Con.
MAJOR E C O N O M I C
PROCESS
Ml| INVENTORIES AND I N V E N T O R Y INVESTMENT
Minor Economic
Process
Inventory Investment
L, L, L
Timing Class
L, L, L
36. Change in inventories on
30. Change in
hand and on order in 1972
business invendollars
tories in 1972
dollars
Monthly
Smoothed
data
data 1
Year
and
month
(Ann. rate,
bil.dol.)
(Ann. rate,
bil.dol.)
(Ann. rate,
bil.dol.)
Inventories on Hand and on Order
L, L, L
L, L, L
31. Change
in book value
of mfg. and
trade inventories, total
38. Change
in stocks of
materials and
supplies on
hand and on
order, mfg.
(Ann. rate,
bil.dol.)
Revised
1977
(Bil.dol.)
2
Lg, Lg, Lg
Lg, Lg, Lg
Manufacturing and trade
inventories
71. Current
dollars
(Bil.dol.)
Revised
Lg, Lg, Lg
70. Constant
(1972) dollars
65. Mfrs.'
inventories of
finished
goods, book
value
(Bil.dol.)
(Bil.dol.)
Lg, Lg, Lg
77. Ratio,
constantdollar inventories to
sales, mfg.
and trade
L, Lg, Lg
78. Stocks of
materials and
supplies on
hand and on
order, mfg.
(Ratio)
(Bil.dol.)
2
January
February . .
March
n'ia
15.11
11.99
15.05
5.60
9.52
12.49
30.6
29.4
40.5
rl.50
rO.80
1.35
313.29
315.73
319.11
226.11
226.81
227.89
54.42
54.70
54.91
1.57
1.56
1.55
r!34.37
135.18
136.52
April
May
June
is!i
15.76
8.77
9.78
14.16
13.73
12.31
39.8
22.0
21.7
0.87
0.97
0.20
322.42
324.26
326.07
229.16
229.84
230.81
55.39
56.35
56.84
1.57
1.57
1.57
137.39
138.36
138.57
July
August
September
leie
7.94
22.78
19.14
10.13
11.16
15.06
9.7
31.9
38.7
-0.63
1.13
1.23
326.88
329.54
332.76
231.68
233.01
234.49
57.42
57.46
57.83
1.57
1.57
1.58
137.94
139.07
140.30
October
November
December
11 ! 3
3.02
20.26
17.06
15.80
14.56
13.79
7.4
32.1
24.5
0.58
0.88
1.74
333.38
336.06
338.10
234.60
235.77
236.82
58.45
59.02
58.88
1.57
1.57
1.56
140.88
141.76
143.50
. .
1978
January
February
March
le'.s
23.21
13.62
0)36.53
16.81
19.07
21.21
41.0
33.9
60.8
0.92
1.51
2.07
341.52
344.34
349.41
238.18
238.92
241.23
59.74
59.76
60.05
1.61
1.58
1.57
144.42
145.93
148.00
April
May
June
15.6
29.34
17.71
15.10
25.47
E>27.18
24.29
60.4
33.7
33.8
1.83
2.00
2.38
354.44
357.25
360.06
242.94
243.93
244.65
60.71
61.07
61.57
1.55
1.56
1.57
149.84
151.84
154.22
July
August
September
12^2
10.36
18.49
12.82
17.55
14.52
14.27
35.8
42.3
31.8
1.18
1.81
2.62
363.05
366.57
369.23
245.54
246.77
247.13
62.10
62.74
62.82
1.58
1.56
1.57
155.40
157.22
159.83
October
November
December
i2!6
15.64
19.19
18.38
14.77
15.77
16.81
38.1
52.9
33.8
2.43
2.98
2.71
372.40
376.81
379.63
247.88
249.09
249.59
62.69
63.52
63.80
1.55
1.55
1.55
162.26
165.24
167.95
U.3
31.04
14.76
15.07
20.30
22.13
20.84
54.7
43.6
48.9
D5.71
3.96
3.31
384 . 1 9
387.82
391.89
250.98
251.38
252.24
64.67
65.48
65.67
1.57
1.58
1.54
173.66
177.62
180.93
DrlS.'i
r29.44
r-0.52
r21.04
r20.02
r!7.21
r!5.66
67.6
47.7
53.5
4.31
0.52
2.70
397.53
401.50
405.97
253.80
254.71
r256.18
67.10
67.28
68.26
1.62
1.58
rl.62
185.24
185.76
188.46
p22.40
(NA)
pi 5. 48
(NA)
0}p94.1
(NA)
0.20
(NA)
H)p413.81
(NA)
H)p259.22
(NA)
D69.15
(NA)
E>PJ.63
(NA)
E>1 88.67
(NA)
1979
January
February
March
April
May
June
July
August
September
October
November
December
. .
NOTE: Series are seasonally adjusted except those series that appear to contain no seasonal movement. Unadjusted series are indicated by (u). Current high values are indicated byU); for
series that move counter to movements in general business activity, current low values are indicated by [H). Series numbers are for identification only and do not reflect series relationships or
order. Complete titles and sources are shown at the back of the book. The "r" indicates revised; "p", preliminary; "e", estimated; "a", anticipated; and "NA", not available.
Graphs of these series are shown on pages 13, 15, 26, and 27.
1
Series is a weighted 4-term moving average (with weights 1,2,2,1) placed at the terminal month of the span.
and Changes for This Issue," page iii.
2
See "New Features
SEPTEMBER 1979
ltd*
CYCLICAL INDICATORS
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Con.
MAJOR E C O N O M I C
PROCESS
HRj PRICES, COSTS, AND P R O F I T S
Minor Economic
Process
Stock
Prices
Sensitive Commodity Prices
U, L, L
L, L, L
Timing Closs
92. Change in sensitive prices
Year
and
month
Monthly
Smoothed
data 2
data
23. Index of
industrial
materials
prices®
L, L, L
19. Index of
stock prices,
500 common
stocks ®
Profits and Profit Margins
L, L, L
L, L, L
Corporate profits after taxes
16. Current
dollars
(Ann. rate,
bil dol.)
L, C , L
L, C, L
Corporate profits after taxes
with I V A a n d CCA 1
18. Constant
(1972) dollars
(Ann. rate,
bil. dol.)
79. Current
dollars
(Ann. rate,
bil. dol.)
80. Constant
(1972) dollars
(Ann. rate,
bil. dol.)
L, L, L
22. Ratio,
profits (after
taxes) to total
corporate
domestic income
(Percent)
(1967=100)
(1941-43=10)
210.2
216.4
222.8
103.81
100.96
100.57
99!2
70i6
67!9
48i6
l6'.2
1.57
0.71
-0.14
0.69
0.43
1.04
-1.35
1.77
1.58
0.53
221.9
218.1
206.4
99.05
98.76
99.29
103^7
7^6
76^4
53.'8
i6!s
July
August
September
0.22
1.44
0.67
0.01
0.04
0.44
204.1
202.7
202.9
100.18
97.75
96.23
107*.2
73^9
87 J
DGO.'S
October
November
December
0.21
1.51
2.52
0.77
0.79
1.11
204.7
203.8
210.9
93.74
94.28
93.82
107.*9
73J
77!9
53!2
10.*3
January
February
March
0.67
0.03
1.27
1.49
1.32
0.87
219.7
219.9
219.8
90.25
88.98
88.82
106^7
7\'.2
7CL4
47.4
9^9
April
May
June
1.39
0.62
1.85
0.78
1.00
1.19
220.3
217.8
222.1
92.71
97.41
97.66
122A
79^9
84 .'7
55^7
10.'?
July
August
September
1.59
0.44
1.62
1.32
1.32
1.26
224.7
232.6
239.1
97.19
103.92
103.86
124^6
79^7
87^7
56.*7
1CL7
October
November
December
1.44
1.85
1.1 fi
1.19
1.40
1.56
249.4
254.8
251.8
100.58
94.71
96.11
132.*3
83.*2
\B)89.7
56^9
ii!6
1.85
2.57
3.43
1.55
1.74
2.24
258.3
273.5
288.5
99.71
98.23
100.11
[R>142:6
{8)8713
87 '.6
54! 4
E)ii'.4
April
May .
June . . . .
r-0.38
r2.46
3.06
[H)r2.24
1.86
rl.78
294.5
293,8
293.9
102.07
99.73
101.73
r!39.3
r83*.7
r87.9
r53',4
11 .0
July
August
September
1 .14
1 .05
rl .97
1.98
297.3
[0)298.1
3
297.7
102.71
0)107.36
4
107.50
(Percent)
(Percent)
1977
-1.76
January
February
March
April
May
June
EM. 40
....
10*2
1978
1979
January
February
March
October
November
December
....
CYCLICAL INDICATORS
B I
CYCLICAL INDICATORS BY ECONOMIC PROCESS —Con.
MAJOR E C O N O M I C
PROCESS
Minor Economic
Process
Timing Class
Year
and
month
PS
PRICES, COSTS, AND PROFITS-Con.
Profits and Profit Margins-Con.
U, L, L
L, L, L
81. Ratio,
profits (after
taxes) with IVA
and CCA to
corp. domestic
income 1
15. Prof its (after
taxes) per dollar
of sales, all
manufacturing
corporations
(Percent)
(Cents)
Unit Labor Costs and Labor Share
Cash Flows
L, L, L
L, L, L
L, L, L
26. Ratio, price
Net cash flow, corporate
to unit labor
cost, nonfarm
35. Constant
business sector 2 34. Current
(1972) dollars
dollars
(1967-100)
(Ann. rate,
bil.dol.)
(Ann. rate,
bil.dol.)
Lg, Lg, Lg
63. Index of
unit labor cost,
private business
sector
(1967-100)
Lg, Lg, Lg
Lg, Lg, Lg
68. Labor cost
per unit of real
gross domestic
product, nonfinancial
corporations
(Dollars)
62. Index of
labor cost per
unit of output,
manufacturing
Lg, Lg, Lg
64. Compensation of employees as a percent
of national
income 2
(1967=100)
(Percent)
1977
January
February
March
6.6
5.3
96~.8
162^5
nz.'i
175^2
0.928
150.4
152.2
151.9
76^2
April
May
June
7!3
5^5
97.0
17CL5
115^8
178^9
0.945
152.3
152.8
153.6
75 '.8
5.'6
97*3
176.2
117^5
iso.'a
0.954
154.2
154.8
155.7
75^5
July
August
September
H>8.'i
October
November
December
j'.i
5^4
96^5
177!6
116.'6
183.'9
0.975
156.6
157.7
159.1
75.'8
January
February
March
e'.z
s!6
94.'?
178.'i
114^4
189.'5
1 .002
161.5
163.9
164.4
76^7
April
May
June
7J
5.' 5
95.7
195.5
123.5
192.'2
1 .009
163.1
163.2
163.3
75.'6
July
Auqust
September
7^2
5^4
96^6
197^3
122.5
195^3
1 .024
163.6
163.1
163.9
75 ."4
October
November
December
7!2
5.7
95 '.9
205!7
125^8
199! 2
1 .042
164.9
166.6
167.8
75!6
6.6
K>6.'o
94^6
216.0
0)129.8
206. 'l
1 .075
170.6
171 .8
172.0
75.5
r6.*6
5,6
94 '.3
1978
1979
January
February
March
April
May
June
.
July
August
September
H)r217;3
r!27^4
[H)212,"o
B>rl.io4
175.2
173.3
r!74.1
75^9
H75.2
[H)pl76.5
October
November
December
NOTE: Series are seasonally adjusted except those series that appear to contain no seasonal movement. Unadjusted series are indicated by (u). Current high values are indicated by Jj); for
series that move counter to movements in general business activity,current low values are indicated by (H). Series numbers are for identification only and do not reflect series relationships or
order. Complete titles and sources are shown at the back of the book. The "r" indicates revised, "p", preliminary; "e", estimated; "a", anticipated; and "NA", not available.
Graphs of these series are shown on pages 15, 29, and 30.
1
2
IVA, inventory valuation adjustment; CCA, capital consumption adjustment.
Series 26 reached its high value (98.1) in 3d
quarter 1975; series 64 reached its high value (76.8) in 4th quarter 1976.
70
SEPTEMBER 1979 IN J)
CYCLICAL INDICATORS
B
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Con.
MAJOR E C O N O M I C
PROCESS
^9 MONEY AND CREDIT
Minor Economic
Process
L, L, L
Timing Class
Year
and
month
Velocity of Money
Money
85. Change in
money supply
(Ml)
(Percent)
L, L, L
L, C, U
102. Change
in money
supply plus
time deposits
at commercial
banks (M2) *
(Percent)
L, L, L
104. Change in total liquid assets
Monthly
data
Smoothed
data 2
(Percent)
(Percent)
L, L, L
105. Money
supply (M1)
in 1972
dollars
106. Money
supply (M2)
in 1972
dollars
(Bil.dol.)
(Bil.dol.)
Credit Flows
C, C , C
C, Lg,C
L, L, L
107. Ratio,
gross national
product to
money supply
(Ml)
108. Ratio,
personal income
to money supply
(M2)
(Ratio)
(Ratio)
33. Net change
in mortgage debt
held by financial
institutions and
life insurance
companies
(Ann. rate,
bil.dol.)
1977
January
February
March
0.73
0.57
0.57
0.93
0.78
0.78
1.13
1.11
0.74
0.82
0.90
0.98
225.4
224.5
224.4
533.1
532.1
532.9
5.726
1.947
1 .954
1 .963
51 .70
57.72
69.95
April
May
June
0.88
0.34
0.53
0.84
0.56
0.73
0.85
0.64
0.79
0.95
0.82
0.75
224.7
224.5
224.5
533.5
534.2
535.1
5.794
1 .958
1 .960
1 .958
79.81
82.10
94.26
July
August
September
1.05
0.58
0.76
1.08
0.73
0.75
1.11
0.97
0.94
0.80
0.90
0.98
226.0
226.4
227.2
539.1
540.6
542.6
5.836
1 .961
1.960
1 .962
74.11
83.71
96.79
October
November
December
0.69
0.33
0.65
0.72
0.50
0.52
1.15
0.96
0.75
1.01
|H)1.02
0.98
227.9
227.4
227.8
544.4
544.2
544.4
5.851
1.971
1 .983
1 .993
87.62
87.00
96.48
January
February
March
0.94
0.15
0.23
0.82
0.42
0.39
D1.29
0.73
0.71
0.98
0.96
0.92
H>228.4
227.2
226.0
0)545.0
543.8
541.6
5.872
1 .983
1.991
2.011
76.55
77.64
91 .07
April
May
June
1.37
0.80
0.51
0.94
0.77
0.71
1.01
0.94
0.81
0.86
0.85
0.90
227.2
227.1
226.3
542.1
541.8
540.9
6.005
2.019
2.017
2.023
84.20
96.47
97.12
July
August
September
0.54
0.65
1 .12
0.72
0.93
1 .06
0.82
0.79
1 .13
0.89
0.83
0.86
226.2
226.3
226.9
541.7
543.4
544.5
6.044
2.039
2.033
2.029
80.23
D101.65
94.21
0.14
-0.17
0.17
0.53
0.40
0.24
0.70
1 .03
0.90
0.89
0.91
0.92
225.4
223.7
222.6
543.0
542.0
539.8
6.192
2.047
2.062
2.086
97.60
99.98
93.85
-0.42
-0.31
0.11
-0.09
0.19
0.32
0.75
0.68
rO.58
0.88
0.84
rO.72
219.7
216.5
214.6
534.5
529.4
525.8
E)6.383
2.096
2.112
0)2.129
91 .70
84.80
86.66
Dl.48
0.05
1.23
1.17
0.45
1.19
rO.95
rO.40
rO.80
rO.70
rO.69
rO.68
215.4
213.2
213.8
526.2
522.8
523.9
r6.367
2.114
r2.116
r2.106
73.62
94.14
100.84
rl .07
pO.92
b
1.26
rl .05
pO.96
rO.73
pO.84
213.5
p212.5
524.4
p523,7
r2.ll!
p2.101
p93.22
(NA)
1978
. .
October
November
December
1979
January
February
March
April
May
June
July
August
September
0.84
pO.59
1.29
October
November
December
NOTE: Series are seasonally adjusted except those series that appear to contain no seasonal movement. Unadjusted series are indicated by (u). Current high values are indicated by 18); for
series that move counter to movements in general business activity, current low values are indicated by (H). Series numbers are fur identification only and do not reflect series relationships or
order. Complete titles and sources are shown at the back of the book. The "r" indicates revised; "p", preliminary; "e", estimated; "a", anticipated; and "NA", not available.
Graphs of these series are shown on pages 13, 31, and 32.
Series 102 reached its high value (1.25) in February 1976. 2Series is a weighted 4-term moving average (with weights 1,
3
2,2,1) placed at the terminal month of the span.
Average for weeks ended September 5 and 12.
http://fraser.stlouisfed.org/
SEPTEMBER 1979
Federal Reserve Bank of St. Louis
IICII
71
CYCLICAL INDICATORS
B I
CYCLICAL INDICATORS BY ECONOMIC PROCESS -Con.
MAJOR E C O N O M I C
PROCESS
EM
Minor Economic
Process
Credit Flows-Con.
L, L,L
Timing Class
112. Net change
in bank loans
to businesses
Year
and
month
(Ann. rate,
bil.dol.)
Credit Difficulties
L, L, L
L, L , L
113. Net
change in
consumer installment
debt
(Ann. rate,
bil.dol.)
MONEY AND CREDIT-Con.
110. Total
private
borrowing
(Ann. rate,
mil. dol.)
L, L, L
L, L, L
L, U, U
(Percent)
(Mil. dol.)
119. Federal
funds rate®
94. Member
bank borrowing from the
Federal
Reserve®
(Mil. dol.)
C, Lg, Lg
L, Lg, Lg
L, Lg, U
39. Delinquency 93. Free
rate, 30 days
reserves©
and over, consumer installment loans
14. Current
liabilities
of business
failures®
Interest Rates
Bank Reserves
(Percent)
(Percent)
(Mil. dol.)
1 14. Treasury
bill rate©
1977
January
February
March
-5.36
11 .59
6.90
25.28
28.33
40.42
256,468
168.54
194.20
248.20
2.37
2.37
2.37
433
-114
155
61
79
110
4.61
4.68
4.69
4.60
4.66
4.61
April
May
June
0.54
4.16
11 .33
37.07
34.80
30.77
262,804
207.27
473.89
305.86
2.40
2.43
2.38
-62
72
-149
73
200
262
4.73
5.35
5.39
4.54
4.94
5.00
July
August
September
6.59
13.61
7.81
28.88
35.22
34 14
310,520
577.82
338.25
E) 96 99
2.41
2.34
2 36
12
-872
-443
336
1 ,071
634
5.42
5.90
6.14
5.15
5.50
5.77
10.79
11 81
9.72
38 48
43 15
42.95
305 232
1 15 69
200 29
168.32
2 41
2 24
2.36
-980
705
-384
1 ,319
840
558
6.47
6 51
6.56
6.19
6 16
6.06
January
February
March
9 76
17.21
19 97
29.24
34.34
48.91
309,996
168.31
205.01
324.41
2.42
2.48
2.51
-176
-272
-38
481
405
344
6.70
6.78
6.79
6.45
6.46
6.32
April
May
June
18 10
26.24
21 96
49.27
51.36
50 48
328,012
202. Q9
160.40
178 84
2.44
2.28
2 44
-475
-975
-974
539
1,227
1,111
6.89
7.36
7.60
6.31
6.43
6.71
July
August
September
1 3 61
11 78
13.92
41 59
43.58
44.16
231 82
206 40
127.02
2 42
2 37
2.42
1 146
--885
-993
1 286
1 147
1,068
7 Rl
7 A7
353,972
8 04
8.45
7 04
October
November
December
1090
8.77
-0.94
r40 51
r45.98
E)r52.79
9 QC;
8
8
2.34
2.45
i n/iQ
-417
-749
1 9£1
[H}376,440
1 75 34
178.93
196.54
January
February
March
r26 78
r32 68
n?DQ "3Q6
r6 29
r36 80
r42 76
r43 50
182 22
177 09
187 76
[H>2.12
2.31
2 33
April
May
June
r39.71
r49.26
04 co
v ^ Q A7
91 &9
r^n 70
October
November
December
.
...
1978
;
Q/T
7.84
1 "5
722
874
9.76
10.03
8.79
9.12
10.07
1 0 . 06
10.09
00
9 . or
1979
July
August
September
[u\ 4"!
47
p29.69
101
?Q
(NA)
(NI\}
??
2.43
2 37
2 45
£Q9
-oy<c
994
*> 7F>A
Q 7 0
-742
QQ Q
-899
|H}'-1 490
-1 1 75
v
A ^j
\(|NNtr\
(NA)
2
"i
897
[H)l 777
1 396
non
p-861
40
y 16
-j n Q
1 1 7Q
1,097
2
1 444
9.27
9.46
10.01
10 24
10 29
[Rftq R&
9 Q5
10 47
18)10.94
9.45
211
00
9.49
q pc
31 n
or
October
November
December
NOTE: Series are seasonally adjusted except those series that appear to contain no seasonal movement. Unadjusted series are indicated by ©. Current high values are indicated by H); for
series that move counter to movements in general business activity, current low values are indicated by |H). Series numbers are for identification only and do not reflect series relationships or
order. Complete titles and sources are shown at the back of the book. The "r" indicates revised; "p", preliminary; "e", estimated; "a", anticipated; and "NA", not available.
Graphs of these series are shown on pages 32, 33, and 34.
Average for weeks ended September 5 and 12.
September 6, 13, and 20.
http://fraser.stlouisfed.org/
72 Bank of St. Louis
Federal Reserve
2
Average for weeks ended September 5, 12, and 19.
3
Average for weeks ended
SEPTEMBER 1979 IU Jl
CYCLICAL INDICATORS
B
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Con.
MAJOR E C O N O M I C
PROCESS
^H MONEY AND CREDIT-Con.
Minor Economic
Process
Timing Class
Outstanding Debt
Interest Rates-Con.
Lg, Lg, Lg
C, Lg, Lg
1 16. Corporate 1 15. Treasury
bond yields® bond yields©
U, Lg, Lg
Lg, Lg, Lg
1 17. Municipal
bond yields®
11 8. Secondary
market yields
on FHA
mortgages©
Year
and
month
(Percent)
(Percent)
(Percent)
(Percent)
Lg, Lg, Lg
Lg, Lg, Lg
67. Bank rates
on short-term
Business loans
109. Average
prime rate
charged by
banks®
®
(Percent)
Lg, Lg, Lg
66. Consumer
installment
debt
(Mil.dol.)
(Percent)
Lg, Lg, Lg
Lg, Lg, Lg
72. Commercial 95. Ratio,
consumer inand industrial
stallment debt
loans outstanding, weekly to personal
reporting large
income
commercial
banks
(Percent)
(Mil.dol.)
Revised 1
1977
January
February
March
5 87
5 89
5.89
8 45
8.55
8.65
7.50
6 25
6 25
6.25
190,426
192,787
196,155
109,531
110,497
111 ,072
13.09
13.10
13.16
8.33
6 68
7 16
7.20
April
May
June
8.30
8 38
8 08
7.13
7 17
6 99
5.73
5 75
5 62
8.64
(NA)
8 77
7!40
6.25
6 41
6 75
199,244
202 144
204 708
111 ,117
111,464
112,408
13.29
13 39
13 48
July
August
September
8.12
8.06
8 11
6.98
7.01
6 94
5.63
5.62
5 51
8.77
8.77
8 74
7.80
6.75
6.83
7 13
207 115
210,050
919 RQ^.
112.957
114,091
114 742
1 3 48
13.57
October
November
December
8.21
8 26
8 39
7 08
7 16
7 24
5 64
5 49
5 57
8 81
8 81
8 96
8 64
7 52
7 75
7 75
216,102
219,698
223 277
115,641
116 625
1 1 7 435
13 68
13 76
1? t°,4
January
February
March
8.70
8.70
8 70
7.51
7.60
7 fi?
5.71
5.62
c ci
9.18
(NA)
Q ^R
8^90
7.93
8.00
Q nn
225,714
228,576
232 652
118,248
119,682
121 ,346
13.95
14.01
14 06
April
May
June
8.88
9 00
7.74
7 86
5.80
6 03
9.44
9 74
8.00
8 27
Q I C
7
236,758
241 038
245 245
122,854
125,041
126 871
14.12
14 29
14 39
July
August
September
9.27
8 83
8.78
8.10
6.28
9.96
7 Rft
f* 19
Q 81
7.82
6.09
9.81
248,711
252 343
256,023
128,005
128 987
130,147
14.38
14 49
14.58
October
November
December
9 14
9.30
9.30
8 07
8.16
8 36
6.13
6.19
[H>6.50
9.98
10.04
10.23
11 .44
9.94
10.94
11.55
r259,399
r263,231
r267,630
9 47
9 52
8 43
8 43
8 45
6 46
6 31
6 33
1024
10 24
1 0 26
12 27
11 75
11 75
11 75
r270 697
r274,260
r277,885
r!33 940
136,663
r!37,187
H4.76
14.81
r!4.84
6 28
6,25
6 13
DID. 61
D12.34
Q Rl
8.44
E>8.55
8.32
10 49
11 75
11 .75
1 1 65
r281 990
r285,296
r287 854
140 496
143,386
145 688
r!4 99
H5.07
[uyi5 U
9 47
9 57
2
9.83
8 35
8 42
2
8 66
6 13
6 20
3
6 51
10 46
10 58
11,54 0)290,297
(NA)
149,144
[H)pl51,618
^154,236
p!5.04
H/n.91
....
7 96
8 18
1 ? £A
1978
QZL
A
99
8 96
(M/n
U'A;
0
Q Q9
£0
9.00
q ni
9.41
131 ,055
131,786
131 ,708
r!4.56
r!4.61
r!4.65
1979
January
February
March
April
May
June
July
August
September
Q ec\
9 69
0)9.83
(NA)
"12 80
(NA)
October
November
December
NOTE: Series are seasonally adjusted except those series that appear to contain no seasonal movement. Unadjusted series are indicated by @. Current high values are indicated by|H); for
series that move counter to movements in general business activity,current low values are indicated by [H>. Series numbers are for identification only and do not reflect series relationships or
order. Complete titles and sources are shown at the back of the book. The "r" indicates revised; "p", preliminary; "e", estimated; "a", anticipated; and "NA", not available.
Graphsof these series are shown on pages 15, 34, and 35.
*See "New Features and Changes for This Issue," page iii. 2Average for weeks
3
ended September 7, 14, and 21.
Average for weeks ended September 6, 13, and 20.
^Average for September 1 through 25.
FRASER
5
Average for weeks ended September 5 and 12.
Digitized for
http://fraser.stlouisfed.org/
Federal ReserveItl^lt
Bank of St. Louis
73
CYCLICAL INDICATORS
DIFFUSION INDEXES AND RATES OF CHANGE
Qj DIFFUSION INDEXES
950. Twelve leading
indicator components
(series 1,3, 8, 12, 19,
20,29,32 36,92, 104,
Year
and
month
951. Four roughly
coincident indicator
components (series
41,47,51,57)
952. Six lagging
indicator components
(series 62, 70, 72, 91,
95, 109)
961 . Average workweek
of production workers,
manufacturing (20
industries)
106)
1 -month
span
6-month
span
1-month
span
6-month
span
1 -month
span
962. Initial claims for
State unemployment
insurance, week including the 12th
(51 areas)
963. Number of employees on private
nonagricultural payrolls
(172 industries)
1-month
span
6-month
span
74.5
70.6
68.6
76.2
56.0
74.7
88.1
87.8
85.2
68.6
23.5
37.3
57.8
53.9
74.5
68.0
64.8
71.2
79.4
75.9
72.1
65.7
82.4
68.6
59.3
51.7
60.8
69.8
74.1
72.1
6-month
span
1-month
span
9-month
span
1-month
span
83.3
83.3
100.0
12.5
97.5
40.0
87.5
90.0
82.5
39.2
25.5
49.0
50.0
47.5
80.0
77.5
77.5
90.0
9-month
span
1977
January
February
March
. .
100.0
100.0
100.0
66.7
75.0
91.7
75.0
83.3
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
75.0
75.0
75.0
100.0
100.0
100.0
75.0
91.7
83.3
100.0
100.0
100.0
17.5
55.0
50.0
50.0
50.0
7.5
80.4
24.5
82.4
91.7
100.0
100.0
100.0
77.5
52.5
40.0
27.5
70.0
92.5
76.5
41.2
90.2
70.6
78.4
86.3
60.5
73.8
72.1
77.9
82.0
83.1
100.0
100.0
100.0
0.0
67.5
95.0
82.5
72.5
60.0
33.3
47.1
54.9
76.5
56.9
47.1
69.8
70.3
70.1
85.5
79.9
77.9
82.4
11.8
58.8
52.9
60.8
60.8
62.8
56.4
67.2
68.9
67.7
59.6
45.8
50.0
83.3
91.7
79.2
70.8
April
May
June
50.0
41.7
58.3
58.3
83.3
54.2
July
August
September
45.8
70.8
54.2
62.5
58.3
70.8
October
November
December
75.0
70.8
58.3
66.7
75.0
66.7
100.0
100.0
100.0
100.0
100.0
100.0
January
February
March
45.8
62.5
41.7
58.3
54.2
58.3
25.0
75.0
100.0
100.0
100.0
April
May
June
66.7
54.2
62.5
54.2
50.0
58.3
100.0
July
August
September
45.8
50.0
62.5
62.5
83.3
66.7
75.0
58.3
41.7
62.5
66.7
54.2
50.0
58.3
33.3
33.3
33.3
25.0
100.0
100.0
75.0
75.0
100.0
75.0
1978
October
November
December
.. .
66.7
50.0
100.0
100.0
100.0
91.7
100.0
,83.3
100.0
100.0
100.0
100.0
91.7
83.3
60.0
35.0
52.5
92.5
62.5
100.0
100.0
100.0
83.3
83.3
83.3
100.0
100.0
100.0
37.5
32.5
57.5
90.0
42.5
30.0
49.0
42.2
94.1
51.0
76.5
17.6
54.9
51.7
57.6
61.3
74.4
77.9
100.0
100.0
100.0
100.0
100.0
100.0
66.7
100.0
100.0
100.0
57.5
77.5
83.3
83.3
52.5
87.5
47.5
25.5
29.4
86.3
51.0
66,7
29.4
70.6
80.2
79.7
83.1
84.6
86.0
25.0
75.0
74.1
65.1
62.5
81.7
69.2
50.0
13.7
72.5
68.6
46.1
27.5
100.0
83.3
75.0
75.0
100.0
100.0
r65.4
44.2
48.0
p50.3
50.0
75.0
100.0
66.7
72.5
7.5
7.5
1979
January
February
March
April
May
June
July
August
September
r20.8
r33.3
41,7
....
'54.5
40.0
2
X
2
27.3
35.0
75.0
12.5
r75.0
rSO.O
3
50.0
3
33.3
91.7
58.3
83.3
75.0
66.7
16.7
"75.0
83.3
100.0
83.3
"100.0
62.5
40.0
70.0
0.0
20.0
r20.0
r30.0
p!2.5
7.8
87.5
37.5
66.7
66.7
r58.5
p28.5
p33.3
(NA)
p25.5
(NA)
53.2
r60.5
r52.0
p51.7
October
November
December
NOTE: Figures are the percent of series components rising. (Half of the unchanged components are counted as rising.) Data are centered within the spans: 1-month indexes are placed on
the 2d month, 6-month indexes on the 4th month, and 9-month indexes on the 6th month of the span. Diffusion indexes 961, 962, and 963 are computed from seasonally adjusted components; indexes 950, 951, and 952 are computed from the components of the composite indexes. The "r" indicates revised; "p", preliminary; and "NA", not available.
Graphs of these series are shown on page 36.
Excludes series 12 for which data are not yet available.
2
Excludes series 12 and 36 for which data are not yet available.
3
Exc.ludes series 57 for which data are not yet available.
'•Excludes series 70 and 95 for which data are not yet available.
74
SEPTEMBER
1979
CYCLICAL INDICATORS
C
DIFFUSION INDEXES AND RATES OF CHANGE—Con.
IHI DIFFUSION INDEXES-Con.
964. Value of manufacturers' new orders,
durable goods industries (35 industries)
Year
and
month
1 -month
span
9-month
span
966. Index of industrial
production (24
industries)
965. Newly approved
capital appropriations,
deflated, The
Conference Board
(17 industries)
1 -quarter
span
4-Q moving
avg.
1-month
span
6-month
span
967. Index of industrial
materials prices ®
(13 industrial materials)
1-month
span
968. Index of stock
prices, 500 common
stocks x ©
9-month
span
1-month
span
9-month
span
960. Net profits,
manufacturing 2 ©
(about 700 companies)
1-quarter
span
4-quarter
span
1977
January
February
March
....
....
April
May
June
54.3
42.9
72.9
88.6
88.6
48
r74.3
38.6
71.4
57.1
rSO.O
r31.4
88.6
85.7
74.3
56
57.1
68.6
65.7
88.6
92.9
48
January
February
March
40.0
65.7
60.0
90.0
94.3
77.1
62
April
May
June
65.7
52.9
54.3
82.9
85.7
94.3
27
July
August
September
31.4
82.9
60.0
88.6
74.3
91.4
59
October
November
December
82.9
42.9
60.0
r88.6
45
July
August
September
October
November
December
74.3
62.9
. .
83.3
91.7
91.7
69.2
73.1
80.8
57.7
50.0
50.0
46.0
27.4
43.5
33.0
43.5
54.8
'72
60
58.3
72.9
68.8
83.3
87.5
83.3
34.6
34.6
15.4
50.0
46.2
46.2
49.2
37.0
46.0
54.8
29.0
17.7
*78
'57
70.8
72.9
83.3
89.6
87.5
83.3
34.6
50.0
50.0
45.8
29.2
41.7
56.5
23.4
15.3
26.6
27.4
22.6
'74
'ei
68.8
75.0
66.7
75.0
79.2
75.0
45.8
62.5
75.0
11.3
66.9
46.8
19.4
16.1
23.7
'78
48
72.9
66.7
72.9
83.3
79.2
91.7
69.2
34.6
46.2
66.7
66.7
58.3
30.6
50.0
"49. 1
"62.1
"69.8
*78
'49
39.6
47.9
85,4
87.5
87.5
85.4
50.0
61.5
80.8
69.2
80.8
84.6
90.7
90.7
59.3
"82.8
"86.2
"87.7
'78
"48
87.5
54.2
83.3
87.5
87.5
91.7
65.4
69.2
76.9
88.5
92.3
88.5
28.8
98.3
37.3
"70.2
"67.5
"68.4
'so
48
70.8
83.3
70.8
p52
66.7
79.2
87.5
87.5
77.1
81.3
88.5
80.8
42.3
88.5
88.5
92.3
69,0
39.1
47.3
67.3
54.2
52.1
66.7
58.3
58.3
61 .5
96.2
96.2
88.5
94.8
35.5
85.5
18.2
32.7
57.4
80.8
80.0
16.4
90.0
90.7
77
80.0
82.9
91 .4
3
50.0
37.5
57.7
3
3
3
3
3
3
1978
91.4
92.9
3
3
3
8.1
8.6
0.0
1979
January
February
March
57.1
45.7
65.7
April
May
June
25.7
62.9
July
August
September . . . .
r48.6
40.0
p55.7
80.0
59
rSO.O
r52.9
p65.7
p45
16.7
r64.6
r64.6
76.9
76.9
r50.0
69.2
42.3
53.8
r58.3
p50.0
r66.7
p33.3
5
46.2
30.8
5
84.6
64.8
92.6
38.5
October
November
December
NOTE: Figures are the percent of series components rising. (Half of the unchanged components are counted as rising.) Data are centered within the spans: 1-month indexes are placed on
the 2d month, 6-month indexes on the 4th month, and 9-month indexes on the 6th month of the span; 1-quarter indexes are placed on the 1st month of the 2d quarter, 3-quarter indexes on
the 1st month of the 3d quarter, and 4-quarter indexes on the 2d month of the 3d quarter. Seasonally adjusted components are used except in index 968, which requires no adjustment, and
index 969, which is adjusted as an index (1-quarter span only). Unadjusted series are indicated by @. The "r" indicates revised; "p", preliminary; and "IMA", not available.
Graphs of these series are shown on page 37.
1
Based on 62 industries through March 1978, on 59 industries through September 1978, on 58 industries through January 1979,
on 55 industries through June 1979, and on 54 industries thereafter. Data for component industries are not shown in table C2
but are available from the source agency.
2
This is a copyrighted series used by permission; it may not be reproduced without written permission from Dun and Bradstreet
Inc.
3
Based on 12 components (excluding print cloth).
"Based on 58 components for January 1978 through May 1978 and on 57 components through September 1978.
5
Average for September 4, 11, and 18.
http://fraser.stlouisfed.org/ SEPTEMBER 1979
Federal Reserve Bank of St. Louis
ItCIt
75
CYCLICAL INDICATORS
C
I
DIFFUSION INDEXES AND RATES OF CHANGE—Con.
D I F F U S I O N INDEXES-Con.
970. Business expenditures for new plant and
equipment (18 industries)
Year
and
quarter
a. Actual
expenditures
(1-Qspan)
c. Early
anticipations
b. Later
anticipations
972. Net profits, manufacturing
and trade 1 ©
Actual
Actual
Anticipated
(4-Qspan)
(1-Qspan)
(1-Qspan)
971. New orders, manufacturing 1 ©
Anticipated
Actual
Anticipated
(4-Qspan)
(4-Qspan)
973. Net sales, manufacturing
and trade 1 ©
(4-Qspan)
(4-Qspan)
(4-Qspan)
1976
First quarter ...
Second quarter .
Third quarter...
Fourth quarter
82
66.7
80.6
72.2
47.2
61.1
77.8
72.2
63.9
75.0
61.1
66.7
83.3
78
78
76
74
72
74
66.7
75.0
88.9
44.4
61.1
72.2
69.4
58.3
66.7
66.7
66.7
72.2
83
82
82
84
71
74
74
76
82
61.1
88.9
61.1
66.7
77.8
69.4
63.9
72.2
61.1
66.7
61.1
69.4
83
86
86
86
82
83
88
86
73
76
78
78
79
82
84
83
66.7
77.8
66.7
72.2
66.7
55.6
72.2
69.4
77.8
85
(NA)
84
78
(NA)
82
84
90
87
82
81
1977
First quarter ..
Second quarter
Third q u a r t e r . .
Fourth quarter
82
86
90
78
81
84
85
1978
First quarter ..
Second quarter
Third quarter..
Fourth quarter
87
92
90
1979
First quarter ..
Second quarter
Third quarter..
Fourth quarter
87
(NA)
85
88
D I F F U S I O N INDEXES-Con.
Year
and
quarter
974. Number of employees,
manufacturing and trade 1 ©
975. Level of inventories,
manufacturing and trade 1 ©
976. Selling prices, manufacturing 1 ©
977. Selling prices, wholesale
trade 1 ©
Actual
Actual
Actual
Actual
Anticipated
Anticipated
Anticipated
Anticipated
(4-Qspan)
(4-Qspan)
57
58
58
58
56
60
62
60
62
65
68
69
60
59
61
62
59
60
61
59
74
72
74
75
65
68
72
70
86
87
87
78
81
86
82
87
86
88
90
.......
.....
.......
.....
62
64
64
63
59
60
62
62
76
76
76
78
67
70
73
74
87
88
90
91
82
84
87
87
92
93
94
.......
.....
.......
.....
62
(NA)
60
60
58
(NA)
70
74
71
92
(NA)
88
96
(NA)
(4-Qspan)
(4-Qspan)
(4-Qspan)
(4-Qspan)
(4-Qspan)
978. Selling prices, retail
trade 1 ©
Actual
Anticipated
(4-Qspan)
(4-Qspan)
1976
First quarter
Second quarter
Third quarter
Fourth quarter
84
82
80
82
80
82
82
92
81
82
84
1977
First quarter ...... ,
Second quarter
Third quarter ...... ,
Fourth quarter
.....
90
86
92
92
86
84
90
87
90
91
94
94
93
90
88
92
92
88
90
92
94
(NA)
90
92
92
1978
First quarter
Second quarter
Third quarter
Fourth quarter
1979
First quarter
Second quarter
Third quarter
Fourth quarter
sonTartS
series components rising. (Half of the unchanged components are counted as rising.) Data are placed on the terminal month of the span. Series are seasonally adjusted except those, indicated by © , that appear to contain no seasonal movement. The "r" indicates revised; "p", preliminary • and "NA" not a-ilabip
Graphs of these series are shown on page 38.
'
" "J
*This is a copyrighted series used by permission; it may not be reproduced without written permission from Dun and Bradstreet
Inc. Dun and Bradstreet diffusion indexes are based on surveys of about 1,400 business executives.
tstreet,
76
It
CYCLICAL INDICATORS
DIFFUSION INDEXES AND RATES OF CHANGE-Con.
RS SELECTED DIFFUSION INDEX COMPONENTS: Bas c Data and Directions of Change
Diffusion index components
1979
February
January
March
April
Julyr
June
May
August p
961. A V E R A G E W O R K W E E K OF PRODUCTION WORKERS, MANUFACTURING l
(Average weekly hours)
All manufacturing industries
o
Percent rising of 20 components
40.7
o
(62)
40.7
+
(40)
40.8
39.2
(70)
(0)
f
40.2
40.1
(88)
(38)
+
40.2
40.0
(58)
(28)
Durable goods industries:
Lumber and wood products
Furniture and fixtures
o
40.0
39.2
-
39.5
38.8
+
+
40.1
39.4
39.2
38.1
o
+
39.2
38.4
+
o
r39.4
r38.4
o
o
39.4
38.4
Stone, clay, and glass products
Primary metal industries
+
41.4
42.4
+
-
41.5
42.3
+
42.3
41.9
41.3
41.7
+
41.6
41.3
o
41.5
r41.3
-
41.3
41.2
41.2
40.9
Fabricated metal products
Machinery, except electrical
-
41.2
42.2
+
+
41.4
42.6
+
o
41.5
42.6
39.1
40.5
+
+
40.7
42.0
o
o
40.7
42.0
+
o
40.8
42.0
40.1
41.4
Electrical equipment and supplies
Transportation equipment
+
+
40.7
43.0
+
-
40.9
42.7
o
40.9
42.4
39.0
38.0
+
+
40.3
41.2
-
r40.2
r40.7
+
+
40.4
41.0
Instruments and related products
Miscellaneous manufacturing industries
+
+
41.1
39.1
o
-
41.1
39.0
+
+
41.4
39.2
40.2
37.7
+
+
40.8
38.5
+
r40.6
r38.8
40.5
39.1
+
+
40.9
38.7
Food and kindred products
Tobacco manufactures
+
-
40.1
36.7
o
39.7
36.7
+
+
40.1
38.5
39.7
37.9
+
+
39.8
38.9
-
r39.7
r38.2
+
-
40.1
38.1
o
40.1
37.6
Textile mill products
Apparel and other textile products
+
-
40.9
35.3
40.0
35.5
+
o
40.6
35.5
38.9
34.3
+
+
40.0
35.2
o
o
40.0
35.2
o
+
40.0
35.5
o
+
40.0
35.3
Paper and allied products
Printing and publishing
+
+
42.9
37.7
o
o
42.9
37.7
o
+
42.9
37.8
42.3
37.2
+
+
42.5
37.3
o
+
42.5
37.4
o
o
42.5
37.4
Chemicals and allied products
Petroleum and coal products
+
42.0
43.4
o
41.9
43.4
+
+
42.0
44.2
41.8
44.1
+
41.9
43.7
-
41.7
43.2
o
+
41.7
43.6
Rubber and plastic products, n.e.c
Leather and leather products
+
+
41.5
37.0
o
-
41.5
36.3
41.4
36.2
39.8
35.8
+
+
40.8
36.2
+
40.7
36.3
+
40.4
36.6
-r75,820
-
72,476
+
+
39.6
37.9
40.3
41.3
Nondurable goods industries:
964. VALUE OF MANUFACTURERS' NEW O R D E R S , DURABLE G O O D S I N D U S T R I E S 1
(Millions of dollars)
All durable goods industries
Percent rising of 35 components
+ 79,647
+
81,312
+
(46)
(57)
83,088
-
76,099
+
(63)
(26)
(66)
77,027
+
o
42.2
37.5
41.7
43.5
39.8
36.3
2
(49)
+
73,035
(56)
(40)
Primary metals
Fabricated metal products
+ 13,607
- 9,276
-
13,042
9,193
o
+
13,037
10,509
-
11,782
9,036
+
11,270
9,477
+ 11,658
- 8,878
+
10,937
8,994
+
10,613
9,050
Machinery, except electrical
Electrical machinery
+ 13,085
+ 9,611
+
+
13,401
10,017
+
-
14,988
9,676
-
12,772
9,362
+
+
13,140
9,587
+r!3,502
+ 9,690
-
13,105
8,867
+
+
13,777
9,526
Transportation equipment
Other durable goods industries
+ 20,102
- 13,966
+
-
21,869
13,790
+
20,002
14,876
-
18,375
14,772
+
-
18,966
14,587
-r!7,586
- 14,506
+
15,805
14,768
+
15,285
14,784
NOTE: To facilitate interpretation, the month-to-month directions of change are shown along with the numbers: (+) - rising, (o) = unchanged, and (-) = falling. The "r" indicates revised;
"p", preliminary; and "NA", not available.
Data are seasonally adjusted by the source agency.
Data for most of the 35 diffusion index components are not available for publication; however, they all are included in the
totals and directions of change for six major industry groups shown here.
http://fraser.stlouisfed.org/
Kill
Federal Reserve
BankCCDTCMRCR
of St. Louis
1 Q7Q
77
CYCLICAL INDICATORS
DIFFUSION INDEXES AND RATES OF CHANGE—Con.
j^l SELECTED DIFFUSION INDEX COMPONENTS: Basic Data and Directions of Change-Con.
1979
Diffusion index components
January
February
March
April
r
i
June
May
Julyr
August P
966. INDEX OF INDUSTRIAL P R O D U C T I O N 1
(1967=100)
All industrial production
-
Percent rising of 24 components^
151.5
+
(52)
(54)
Durable manufactures:
Primary and fabricated metals
Primary metals
Fabricated metal products
- 123.4
+ 149.1
Machinery and allied goods
Nonelectrical machinery
Electrical machinery
Transportation equipment
Instruments
+ 161.2
+ 170.9
- 141.2
+
175.2
Lumber, clay, and glass
Clay, glass, and stone products
Lumber and products
+
167.4
- 137.3
Furniture and miscellaneous
Furniture and fixtures
Miscellaneous manufactures
+ 161.7
+
152.0
Nondurable manufactures:
Textiles, apparel, and leather
Textile mill products
Apparel products
Leather and products
Paper and printing
Paper and products
Printing and publishing
152.0
+ 153.0
(67)
150.8
+ 152.4
(17)
(65)
o
152.4
+ 152.6
(65)
-
150.9
(67)
(33)
120.4
150.8
+ 123.7
- 150.2
121.7
148.8
+
121.0
150.3
+
124.3
149.4
+
+
126.5
149.7
162.9
173.2
139.9
176.0
+ 164.0
+ 174.2
+ 143.7
+ 177.3
161.8
170.6
131.6
176.3
+ r!64.3
+ 174.7
+
141.9
- r!74.7
+
+
+
164.5
175.2
139.4
175.8
+
-
165.7
174.5
135.0
175.4
- 164.9
- 173.4
123.4
+ 175.9
166.9
137.2
164.9
+ 137.7
161.2
137.2
+
-
r!63.8
136.1
+
162.8
136.7
+ 163.0
+ 137.2
(NA)
(NA)
+
+
163.1
154.0
+ 163.5
+ 154.5
159.4
152.3
+ 159.6
150.7
o
+
159.6
151.9
- 159.2
+ 152.2
(NA)
- 152.0
- 141.6
- 130.3
+
74.8
+
139.9
133.5
73.4
+ 142.3
+
136.5
72.9
141.2
130.8
69.6
+ 141.5
- 128.2
+
72.3
+
+
142.2
130.2
70.1
+ 142.8
(NA)
+
71.1
(NA)
(NA)
(NA)
144.6
+ 135.6
+
+
146.6
138.2
+ 149.0
137.3
148.7
135.7
147.9
+ 136.8
+
+
148.0
136.9
+ 152.0
135.1
- 151.1
+ 135.3
-
208.6
146.0
267.5
207.4
- 143.8
+
270.4
207.7
145.4
265.5
+
+
209.7
rl42.4
r270.0
+
207.8
142.8
269.1
+
209.3
+ 144.8
+ 271.1
145.5
116.2
+ 147.6
+ 123.3
147.0
120.0
+
+
r!49.2
r!20.2
+
150.0
118.3
-
149.3
(NA)
104.5
120.4
+ 124.0
- 119.3
+
130.1
118.6
+ 133.4
o rl!8.6
+
+
137.5
119.0
+
136.6
120.1
125.3
135.7
+ 126.9
- 135.6
+
128.9
135.3
- r!23.1
+ 137.8
+
123.4
137.3
+
120.5
138.4
+
+
+
+
Chemicals, petroleum, and rubber
Chemicals and products
Petroleum products
Rubber and plastics products
+
+
206.5
147.0
267.4
Foods and tobacco
Foods
Tobacco products
- 143.9
+ 120.6
+
o
+
+
-
124.1
148.0
(NA)
143.9
(NA)
(NA)
(NA)
Mining:
Oil and gas extraction
Metal, stone, and earth minerals
Metal mining
Stone and earth minerals
-
115.9
123.0
+ 124.2
+ 135.9
+
+ 145.8
+ 121.0
(NA)
(NA)
NOTE: To facilitate interpretation, the month-to-month directions of change are shown along with the numbers: (+) = rising, (o) = unchanged, and (-} = falling. The "r " indicates revised;
"p", preliminary; and "NA", not available.
1
Data are seasonally adjusted by the source agency.
2
Where actual data for separate industries are not available, estimates are used to compute the percent rising.
78
CCDTCK/mrn i n-rn
CYCLICAL INDICATORS
DIFFUSION INDEXES AND RATES OF CHANGE—Con.
^9 S E L E C T E D D I F F U S I O N I N D E X COMPONENTS: Basic Data and Directions o Change-Con.
Diffusion index components
1979
April
March
February
January
August
July
June
May
September 1
967. INDEX OF INDUSTRIAL M A T E R I A L S P R I C E S 2
Industrial materials price index (1967=100) . . . .
+
Percent rising of 13 components .
258.3
+
273.5
+
(77)
(62)
288.5
+ 294.5
(77)
(69)
-
293.8
o
293.9
+
(54)
(42)
297.3
+ 298.1
(46)
-
297.7
(38)
(31)
Dollars
Copper scrap
(pound). .
(kilogram). .
+
Lead scrap
(pound). .
(kilogram). .
Steel scrap
(U.S. ton). .
(metric ton). .
+ 0.714
1.574
+
0.756
1.667
+
0.778
1.715
-
0.709
1.563
-
0.681
1.501
-
0.663
1.462
+
0.702 +
1 .548
0.723
1.594
+ 0.178
0.392
+
+
0.210
0.463
+
0,223
0.492
+
0.237
0.522
+
0.256
0.564
+
0.267
0.589
-
0.263
0.580
0.263
0.580
+ 94.000
103.616
+104.000
114.639
+122.500
135.032
- 102.500
112.986
+ 7.162
15.789
0.594
1.310
0.195
0.430
Tin
(pound). .
(kilogram). .
-
6.429
14.173
+
6.832
15.062
Zinc
(pound). .
(kilogram). .
+
0.350
0.772
+
0.370
0.816
Burlap
+
o
- 92.000
101.412
+107.000
117.946
- 98.400
108.466
- 91.500
100.860
- 87.000
95.900
6.958
15.340
-
6.930
15.278
+
7.020
15.476
+ 7.134
15.728
-
6.845
15.090
+
o
0.395
0.871
o
0.395
0.871
+
0.397
0.875
-
0.368
0.811
- 0.361
0.796
7.040
15.520
0.379
0.836
+
0.395
0.871
o
0.181
0.198
o 0.181
0.198
o 0.181
0.198
+
0.239
0.261
+
0.349
0.382
-
0.574
1.265
+ 0.612
1.349
+
0.638
1.407
- 0.619
1.365
+
0.622
1.371
- 0.621
1.369
(yard). .
(meter). .
+ 0.181
0.198
o 0.181
0.198
o 0.181
0.198
(pound). .
(kilogram). .
- 0.618
1.362
-
0.606
1.336
-
0.584
1.287
(yard). .
(meter). .
-
0.604
0.661
o
0.604
0.661
-
0.595
0.651
f
0.670
0.733
+ 0.721
0.788
-
0.720
0.787
-
0.708
0.774
-
0.654
0.715
-
0.648
0.709
Wool tops
(pound). .
(kilogram). .
o
2.600
5.732
o
2.600
5.732
+
2.638
5.816
i-
2.838
6.257
+
2.850
6.283
o
2.850
6.283
o
2.850
6.283
o
2.850
6.283
+
2.883
6.356
Hides
(pound). .
(kilogram). .
+
0.754
1.662
+
0.898
1.980
+ 1.075
2.370
*•
1.098
2.421
- 1.093
2.410
-
0.955
2.105
-
0.834
1.839
-
0.820
1.808
- 0.810
1.786
Rosin
(100 pounds). .
(100 kilograms). .
o 28.500
62.831
o 28.500
62.831
o 28.500
62.831
o
28.500
62.831
o 28.500
62.831
o 28.500
62.831
o 28.500
62.831
o 28.500
62.831
o 28.500
62.831
Cotton, 12-market average
Print cloth, average
0.345
0.377
Rubber
(pound). .
(kilogram). .
-
0.546
1.204
+
0.579
1.276
+
0.623
1.373
^
0.670
1.477
-
0.657
1.448
+
0.677
1.493
-
0.664
1.464
-
0.649
1.431
-
0.647
1.426
Tallow
(pound). .
(kilogram). .
+ 0.199
0.439
+
0.205
0.452
+
0.230
0.507
f-
0.248
0.547
-
0.247
0.545
-
0.217
0.478
+
0.227
0.500
-
0.225
0.496
+
0.229
0.505
NOTE: To facilitate interpretation, the month-to-month directions of change are shown along with the numbers: (+) = rising, (o) = unchanged, and (-) = falling. The "r" indicates revised;
"p", preliminary; and "NA", not available.
1
Average for September 4, 11, and 18.
2
Data are not seasonally adjusted. Components are converted to metric units by the Bureau of Economic Analysis.
http://fraser.stlouisfed.org/
SEPTEMBER
1979
Federal Reserve Bank of
St. Louis
licit
79
OTHER IMPORTANT ECONOMIC MEASURES
NATIONAL INCOME AND PRODUCT
GNP AND PERSONAL INCOME
Year
and
quarter
50. Gross national product in 1972 dollars
200. Gross national product in current dollars
c. Percent
change at
annual rate
b. Difference
a. Total
c. Percent
change at
annual rate
b. Difference
a. Total
(Ann. rate,
bil.dol.)
(Ann. rate,
bil.dol.)
(Ann. rate,
bil.dol.)
(Ann. rate,
bil.dol.)
1,653.7
1,683.1
1,715.8
1,756.1
55.7
29.4
32.7
40.3
14.7
7.3
8.0
9.8
1,259.5
1,267.4
1,277.1
1,288.1
31.6
7.9
9.7
1,820.2
1,876.0
1,930.5
1,971.3
64.1
55.8
54.5
40.8
15.4
12.8
12.1
8.7
1,315.7
1,331.2
1,353.9
1,361.3
27.6
2,011.3
2,104.2
2,159.6
2,235.2
40.0
92.9
55.4
75.6
8.4
19.8
10.9
14.8
2,292.1
r2,329.8
56.9
r37.7
10.6
6.7
217. Per capita
GNP in 1972
dollars
213. Final sales
in 1972 dollars
(Ann. rate,
dollars)
(Ann. rate,
bil.dol.)
1976
First quarter ..
Second quarter
Third quarter..
Fourth quarter
10.7
2.6
3.1
3.5
5,869
5,896
5,929
5,967
1,250.6
1,257.7
1,270.3
1,287.0
22.7
7.4
8.9
4.8
7.0
2.2
6,084
6,145
6,236
6,256
1,304.4
1,317.8
1,337.3
1,350.0
1,367.8
1,395.2
1,407.3
1,426.6
6.5
27.4
12.1
19.3
1.9
8.3
3.5
5.6
6,276
6,390
6,431
6,506
1,351.3
1,379.6
1,395.1
1,414.6
1,430.6
rl,422.3
4.0
r-8.3
6,512
r-2.3
1,418.4
rl,404.1
11.0
1977
First quarter ..
Second quarter
Third q u a r t e r . .
Fourth quarter
15.5
1978
First quarter ..
Second quarter
Third quarter..
Fourth quarter
1979
First quarter ..
Second quarter
Third quarter..
Fourth quarter
GNP AND P E R S O N A L INCOME-Con.
Year
and
quarter
(Ann. rate,
bil.dol.)
(Ann. rate,
bil. dol.)
r6,46Q
PERSONAL CONSUMPTION E X P E N D I T U R E S
230. Total in current
dollars
Disposable personal income
224. Current dollars 225. Constant
(1972) dollars
1.1
231. Total in 1972
dollars
232. Durable goods
in current dollars
233. Durable goods
in 1972 dollars
227. Per capita in
1972 dollars
(Ann. rate,
dollars)
(Ann. rate,
bil.dol.)
(Ann. rate,
bil.dol.)
(Ann. rate,
bil. dol.)
1976
First quarter ..
Second quarter
Third quarter..
Fourth quarter
1,152.2
1,170.2
1,193.1
1,222.6
883.1
887.7
893.4
903.3
4,115
4,130
4,148
4,185
1,053.3
1,073.7
1,100.5
1,132.0
807.3
814.5
824.0
836.4
152.9
155.6
158.3
162.9
125.5
126.0
126.5
128.5
1,250.1
1,286.0
1,323.2
1,361.2
908.0
921.5
936.3
951.8
4,200
4,255
4,313
4,375
1,169.1
1,190.5
1,220.6
1,259.7
849.2
853.1
863.7
880.9
174.3
175.7
178.9
186.4
135.8
136.6
138.2
142.4
1,395.0
1,437.3
1,476.5
1,524.8
956.6
966.1
976.2
991.5
4,390
4,426
4,462
4,522
1,287.2
1,331.2
1,369.3
1,415.4
882.7
894.8
905.3
920.3
185.
200.
203.
212.1
139.3
147.8
147.5
152.1
1,572.2
rl,60l.7
996.6
r993.0
4,536
r4,510
1,454.2
rl , 4 7 5 . 9
921.8
r91 5.0
213.8
r208.7
150.2
r!44.8
1977
First quarter ..
Second quarter
Third quarter..
Fourth quarter
1978
First quarter ..
Second quarter
Third quarter..
Fourth quarter
1979
First quarter ..
Second quarter
Third quarter..
Fourth quarter
NOTE: Series are seasonally adjusted except those series that appear to contain no seasonal movement. Unadjusted series are indicated by ©. Series numbers are for identification only and
do not reflect series relationships or order. Complete titles and sources are shown at the back of the book. 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.
SEPTEMBER 1979
OTHER IMPORTANT ECONOMIC MEASURES
NATIONAL INCOME AND PRODUCT—Con.
R| GROSS PRIVATE DOMESTIC INVESTMENT
^M PERSONAL CONSUMPTION EXPENDITURES-Con.
236. Nondurable
goods in current
dollars
Year
and
quarter
238. Nondurable
goods in 1972
dollars
237. Services in
current dollars
239. Services in
1972 dollars
(Ann. rate,
bil. dol.)
240. Total in
current dollars
(Ann. rate,
bil. dol.)
241. Total in
1972 dollars
(Ann. rate,
bil. dol.)
242. Fixed investment, total, in
current dollars
243. Fixed investment, total, in
1972 dollars
(Ann. rate,
bil. dol.)
(Ann. rate,
bil. dol.)
(Ann. rate,
bil. dol.)
(Ann. rate,
bil. dol.)
(Ann. rate,
bil. dol.)
431.2
438.2
448.2
458.1
315.6
319.4
323.3
327.6
469.2
479.9
494.0
511.0
366.2
369.1
374.2
380.4
233.5
241 .9
246,0
250.7
169.9
173.8
174.2
175.7
220.3
227.4
235.1
249.0
161 .0
164.1
167.5
174.6
467.7
475.5
483.0
499.2
328.9
329.6
332.1
340.0
527.1
539.3
558.7
574.1
384.5
386.9
393.3
398.5
280.4
300.0
315.7
316.9
191 .0
199.6
206.7
203.0
261 .1
277.5
288.2
298.5
179.7
186.2
190.1
191 .7
505.9
521.8
536.7
558.1
337.3
339.4
344.7
351 .9
596.0
609.1
629.1
645.1
406.1
407.6
413.1
416.3
327.0
352.3
356.2
370.5
209.0
216.8
214.0
217.4
304.1
326.5
336.1
349.8
192.5
201 .2
201 .8
205.5
571.1
r581.2
348,1
r344.1
669.3
r686.0
423.5
r426.1
373.8
r395.4
217.2
r221.7
354.6
r361.9
204.9
r203.5
1976
First quarter
Second quarter
Third quarter
Fourth quarter
. ..
1977
First quarter
Second quarter
Third quarter
Fourth quarter
1978
First quarter
Second quarter
Third quarter
Fourth quarter
1979
First quarter
Second quarter
Third quarter
Fourth quarter
B
Year
and
quarter
GROSS PRIVATE
DOMESTIC INVEST.-Con.
245. Change in
business inventories in current
dollars
mf GOVERNMENT P U R C H A S E S O F GOODS AND SERVICES
30. Change in
business inventories in 1972
dollars
260. Total in
current dollars
(Ann. rate,
bil. dol.)
(Ann. rate,
bil. dol.)
(Ann. rate,
bil. dol.)
13.2
14.5
10.8
1 .7
8.9
9.7
6.7
1 .1
355,1
357.5
362.4
370.3
264.7
262.9
262.7
262.6
126.9
127.5
129,8
134.6
96.1
95.9
96.4
97.1
228.2
230.0
232.6
235.7
168.7
167.1
166.3
165.5
19..3
22.5
27.5
18.5
11 .3
13.4
16.6
11 .3
380.0
391 .6
400.5
412.8
264.5
267.6
270.3
271 ,5
138.2
142.6
145.6
151 .2
98.4
100.3
101 .8
101 .8
241 .8
249.0
254.9
261 .6
166.0
167.3
168.5
169.8
22.8
25.8
20.0
20.6
16.5
15.6
12.2
12,0
419.4
428.3
440,9
453.8
270.7
271 .3
274.7
276,0
150.9
148,2
152.3
159.0
99.9
96.6
98.5
99.3
268.5
280.1
288.6
294.8
170.9
174.7
176.2
176.6
19,1
r33.4
12.3
H8.1
460,1
r466.6
274,7
r272.4
163.6
H61.7
101 .1
r98.1
296.5
r304.9
173.6
r!74,3
261. Total in
1972 dollars
(Ann. rate,
bil. dol.)
262. Federal
Government in
current dollars
263. Federal
Government in
1972 dollars
(Ann. rate,
bil. dol.)
(Ann. rate,
bil. dol.)
266. State and
local government
in current dollars
(Ann. rate,
bil.dol.)
267. State and
local government
in 1972 dollars
(Ann. rate,
bil.dol.)
1976
First quarter
Second quarter
Third quarter
Fourth quarter
1977
First quarter
Second quarter
Third quarter
Fourth quarter
1978
First quarter
Second quarter
Third quarter
Fourth quarter
1979
First quarter
Second quarter
Third quarter
Fourth quarter
NOTE: Series are seasonally adjusted except those series that appear to contain no seasonal movement. Unadjusted series are indicated by ®. Series numbers are for identification only and
do not reflect series relationships or order. Complete titles and sources are shown at the back of the book. The "r" indicates revised; "p", preliminary; "e", estimated; "a", anticipated; and
"NA", not available.
Graphs of these series are shown on pages 41, 42, and 43.
http://fraser.stlouisfed.org/ SEPTEMBER 1979
Federal Reserve Bank of St. Louis
81
OTHER IMPORTANT ECONOMIC MEASURES
NATIONAL INCOME AND PRODUCT—Con.
NATIONAL INCOME
AND ITS COMPONENTS
F O R E I G N TRADE
Year
and
quarter
(Ann. rate,
bil.dol.)
256. Constant
(1972) dollars
252. Current
dollars
255. Constant
(1972) dollars
250. Current
dollars
Imports of goods
and services
Exports of goods
and services
Net exports of
goods and services
(Ann. rate,
bil.dol.)
(Ann. rate,
bil.dol.)
(Ann. rate,
bil.dol.)
253. Current
dollars
(Ann. rate,
bil.dol.)
280. Compensation of
employees
220. National income in current
dollars
257. Constant
(1972) dollars
(Ann. rate,
bil.dol.)
(Ann. rate,
bil.dol.)
(Ann. rate,
bil.dol.)
1976
First quarter . . ,
Second quarter
Third quarter..
Fourth quarter
11.8
10.0
7.0
3,2
17.5
16.2
16.1
13.3
155.9
160.9
166.9
169.6
93.8
95.4
97.6
97.7
144.2
150.9
159.9
166.4
76.3
79.2
81 .5
84.4
1 ,323.1
1,344.9
1,369.6
1 ,401 .6
1,001 .4
1 ,025.9
1 ,048.0
1,075.9
-9.2
-6.0
-6.3
170.5
178.6
180.1
174.2
96.5
99.4
-18.1
11 .1
10.9
13.2
5.8
97.3
179.8
184.7
186.4
192.3
85.4
88.5
87.3
91.4
1,456.9
1,505.3
1 ,551 .1
1 ,589.8
1 ,110.1
1,141.5
1 ,170.7
1 ,205.5
-22.2
-7,6
-6.8
-4.5
5,3
12.3
13.3
12.9
184.4
205.7
213.8
224,9
100.7
109.2
111.9
113.8
206.6
213.3
220.6
229.4
95.4
96.9
98.5
101 .0
1,621 .0
1 ,703.9
1,752.5
1,820.0
1 ,244.0
1 ,288.2
1 ,321 .1
1 ,364.8
17.0
r!3.2
238.5
r243.7
117.0
rllB.O
234.4
r251.9
100.0
r!02.9
1,869.0
rl,897.9
1977
First quarter ..
Second quarter
Third quarter..
Fourth quarter
100.5
1978
First quarter ..
Second quarter
Third q u a r t e r . .
Fourth quarter
1979
First quarter ..
Second quarter
Third quarter..
Fourth quarter
4.0
r-8.1
NATIONAL INCOME AND ITS COMPONENTS-Con.
Year
and
quarter
282. Proprietors'
income with inventory valuation
and capital consumption adjustments
(Ann. rate,
bil. dol.)
284. Rental income
of persons with
capital consumption adjustment
(Ann. rate,
bil.dol.)
286. Corporate
profits with
inventory valuation
and capital consumption adjustments
(Ann. rate,
bil. dol.)
1,411 .2
rl , 4 3 9 . 7
SAVING
. Net interest
(Ann. rate,
bil.dol.)
290. Gross saving
(private and government)
(Ann. rate,
bil.dol.)
295. Business
saving
(Ann. rate,
bil. dol.)
292. Personal
saving
(Ann. rate,
bil.dol.)
1976
First quarter ..
Second quarter
Third quarter..
Fourth quarter
89,0
89.8
87,6
91 ,1
22.0
21,6
21 ,9
22.8
130.1
125.6
126.9
124.6
80.6
82.1
85.2
87.2
233.6
239.3
236.2
235.8
205.1
200.5
203.6
203.9
73.8
70.9
66.3
63.4
96,9
97.6
98.6
107,6
23.6
24.6
25.2
25.5
137.1
148.9
160.8
153.0
89.3
92.7
95.8
98.2
253.3
276.0
291 .6
283.6
213.9
226.8
243.2
238.8
52.5
65.9
71 .9
69.5
109,1
115.0
117.4
125.7
25.2
24.4
26.8
27,1
141 .2
169.4
175.2
184.8
101 .5
106.8
111.9
117.6
289.7
329.2
332.7
346.9
234.4
253.1
259.6
264.7
74.6
71 .2
70.9
71 .5
129.0
rl29.3
27.3
26.8
178.9
r!76.6
122.6
H25.6
362.2
374.3
266.0
r274.6
79.2
r85.9
1977
First quarter ..
Second quarter
Third quarter..
Fourth quarter
1978
First quarter ..
Second quarter
Third quarter..
Fourth quarter
1979
First quarter ..
Second quarter
Third quarter..
Fourth quarter
NOTE: Series are seasonally adjusted except those series that appear to contain no seasonal movement. Unadjusted series are indicated by ®. Series numbers are for identification only and
do not reflect series relationships or order. Complete titles and sources are shown at the back of the book. The "r" indicates revised; "p", preliminary; "e", estimated; "a", anticipated; and
"NA", not available.
Graphs of these series are shown on pages 44, 45, and 46.
82
SEPTEMBER 1979
OTHER IMPORTANT ECONOMIC MEASURES
A
I
NATIONAL INCOME AND PRODUCT—Con.
PJ SHARES OF GNP AND NATIONAL INCOME
^9 SAVING-Con.
298. Government
surplus or deficit,
total
Year
and
quarter
(Ann. rate,
bil.dol.)
293. Personal
saving rate
(percent of disposable personal
income)
(Percent)
Percent of Gross National Product
235. Personal consumption expenditures, total
(Percent)
248. Nonresidential
fixed investment
249. Residential
fixed investment
247. Change in
business inventories
(Percent)
(Percent)
(Percent)
(Percent)
251. Net exports of
goods and services
1976
First quarter
Second quarter
Third quarter
Fourth quarter
. .
-45.3
-32.1
-33.7
-31.6
6.4
6.1
5.6
5.2
63.7
63.8
64.1
64.5
9.5
9.6
9.8
9.8
3.8
3.9
3.9
4.4
0.8
0.9
0.6
0.1
0.7
0.6
0.4
0.2
-13.1
-16.6
-23.5
-24.8
4.2
5.1
5.4
5.1
64.2
63.5
63.2
63.9
9.9
9.9
10.0
10.1
4.5
4.9
4.9
5.1
1.1
1 .2
1.4
0.9
-0.5
-0.3
-0.3
-0.9
-19.2
5.0
2.3
10.8
5.3
5.0
4.8
4.7
64.0
63.3
63.4
63.3
10.1
10.4
10.5
10.6
5.0
5.1
5.1
5.1
1.1
1.2
0.9
0.9
-1.1
-0.4
-0.3
-0.2
15.8
r!2.7
5.0
5.4
63.4
63.3
10.6
rlO.7
4.9
r4.8
0.8
rl .4
0.2
-0.3
1977
First quarter
Second quarter
Third quarter
Fourth quarter
. ..
1978
First quarter
Second quarter
Third quarter
Fourth quarter
1979
First quarter
Second quarter
Third quarter
Fourth quarter
^J SHARES OF GNP AND N A T I O N A L INCOME-Con.
Year
and
quarter
Percent of GNP -Con.
265. Federal Govt.
purchases of goods
and services
(Percent)
Percent of National Income
268. State and
local govt. purchases of goods
and services
(Percent)
64. Compensation of 283. Proprietors'
income with IVA
employees
and CCA 1
»
(Percent)
285. Rental income
of persons with
CCA1
(Percent)
(Percent)
287. Corporate
p r o f i t s w i t h IVA
and CCA 1
289. Net interest
(Percent)
(Percent)
1976
First quarter
Second quarter
Third quarter ... .
Fourth quarter
7,7
7.6
7.6
7.7
13.8
13.7
13.6
13.4
75.7
76.3
76.5
76.8
6.7
6.7
6.4
6.5
1.7
1.6
1.6
1.6
9.8
9.3
9.3
8.9
6.1
6.1
6.2
6.2
7.6
7.6
7.5
7.7
13.3
13.3
13.2
13.3
76.2
75.8
75.5
75.8
6.7
6.5
6.4
6.8
1.6
1.6
1.6
1.6
9.4
9.9
10.4
9.6
6.1
6.2
6.2
6.2
7.5
7.0
7.1
7.1
13.3
13.3
13.4
13.2
76.7
75.6
75.4
75.0
6.7
6.7
6.7
6.9
1.6
1.4
1.5
1.5
8.7
9.9
10.0
10.2
6.3
6.3
6.4
6.5
7.1
6.9
12.9
13.1
75.5
75.9
6.9
6.8
1.5
1.4
9.6
9.3
6.6
6.6
1977
First quarter
Second quarter
Third quarter
Fourth quarter
1978
First quarter
Second quarter
Third quarter
Fourth quarter
1979
First quarter
Second quarter
Third quarter
Fourth quarter
NOTE: Series are seasonally adjusted except those series that appear to contain no seasonal movement. Unadjusted series are indicated by ®. Series numbers are for identification only and
do not reflect series relationships or order. Complete titles and sources are shown at the back of the book. The "r" indicates revised; "p", preliminary; "e", estimated; "a" anticipated' and
"NA", not available.
Graphs of these series are shown on pages 46 and 47.
IVA means inventory valuation adjustment; CCA means capital consumption adjustment.
http://fraser.stlouisfed.org/
Federal Reserve Bank of St.SEPTEMBER
Louis
1979
OTHER IMPORTANT ECONOMIC MEASURES
B I
PRICES, WAGES, AND PRODUCTIVITY
^^ PRICE MOVEMENTS
Implicit price deflator,
gross national product
Year
and
month
310. Index
(1972=100)
310c. Change
over 1-quarter
spans1
(Ann. rate,
percent)
Fixed weighted price index,
gross business product
311. Index
(1972=100)
31 1c. Change
over 1-quarter
spans 1
(Ann. rate,
percent)
Consumer prices, all items
320. Index © 320c. Change
over 1-month
spans 1
(1967=100)
(Percent)
Consumer prices, food
320c. Change
over 6-month
spans1
322. Index
(Ann. rate,
percent)
(1967=100)
322c. Change
over 1-month
spans1
322c. Change
over 6-month
spans 1
(Percent)
(Ann. rate,
percent)
1977
6.0
January
February
March
138.'3
April
May
June
14CL9
July
August
September
142^6
October
November
December
144.8
6.9
175.3
177.1
178.2
0.7
1.0
0.6
7.9
8.1
8.3
183.9
187.7
188.6
0.6
2.1
0.5
10.1
11.1
11.5
7.1
179.6
180.6
181.8
0.7
0.4
0.6
7.5
6.4
5.9
191.2
191.8
193.0
1.4
0.3
0.6
10.1
6.9
6.6
5.2
182.6
183.3
184.0
0.3
0.4
0.4
5.2
5.4
5.2
193.0
194.1
194.7
0.0
0.6
0.3
4.1
5.1
4.9
6.5
184.5
185.4
186.1
0.4
0.5
0.5
6.0
6.4
7.3
195.1
196.6
197.7
0.2
0.8
0.6
7.4
8.5
10.5
6.6
187.2
188.4
189.8
0.7
0.6
0.8
8.3
8.9
9.8
200.0
202.2
204.7
1.2
1.1
1.2
13.8
14.6
16.6
10.5
191.5
193.3
195.3
0.8
0.8
0.9
9.5
9.4
9.6
208.1
210.5
213.5
1.7
1.2
1.4
14.2
12.6
11.3
8.8
196.7
197.8
199.3
0.6
0.6
0.9
9.5
9.0
8.5
213.7
214.6
216.0
0.1
0.4
0.7
9.6
8.4
7.4
8.7
200.9
202.0
202.9
0.8
0.6
0.6
9.2
10.4
10.7
217.9
219.2
221.3
0.9
0.6
1.0
10.4
13.0
13.9
10.0
204.7
207.1
209.1
0.9
1.2
1.0
11.4
12.4
13.2
224.5
228.1
230.5
1.4
1.6
1.1
14.0
14.3
12.5
rlO.l
211 .5
214.1
216.6
1 .1
1 .1
1.0
13.4
13.1
232.7
234.3
234.7
1 ,0
0.7
0.2
9.6
6.1
218.9
221.1
1.0
1.1
235.0
235.0
0.1
0.0
139!4
7.7
141 ".8
4.8
143.*6
6.4
145.9
1978
January
February
March
....
6.3
147^0
April
May
June
isois
July
August
September
153.4
October
November
December
148.2
10.6
152.0
7.2
155.*2
8.7
156. * 7
158^5
....
1979
January
February
March
160^2
April
May
June
163.'8
July
August
September
9.3
162.3
r9.3
....
166'.3
October
November
December
NOTE: Series are seasonally adjusted except those series that appear to contain noseasonal movement. Unadjusted seriesare indicated by (u). Series numbers are for identification only and
do not reflect series relationships or order. Complete titles and sources are shown at the back of the book. The "r" indicates revised; "p", preliminary; "e", estimated; "a", anticipated; and
"NA", not available.
Graphs of these series are shown on pages 48 and 49.
1
Percent changes are centered within the spans: 1-quarter changes are placed on the 1st month of the 2d quarter, 1-month
changes are placed on the 2d month, and 6-month changes are placed on the 4th month.
C P D T C M D C D 10TO
OTHER IMPORTANT ECONOMIC MEASURES
B
I
PRICES, WAGES, AND PRODUCTIVITY—Con.
^g PRICE MOVEMENTS-Con.
Producer prices, all commodities
Year
and
month
330. Index®
330c. Change
over 1-month
spans 1
(1967=100)
(Percent)
Producer prices, crude materials
Producer prices, industrial commodities
330c. Change
over 6-month
spans'
(Ann. rate,
percent)
335. Index®
(1967=100)
335c. Change
over 1 -month
spans 1
(Percent)
335c. Change
over 6-month
spans 1
(Ann. rate,
percent)
331. Index
(1967=100)
331c. Change
over 1-month
spans 1
33 1c. Change
over 6-month
spans 1
(Percent)
(Ann. rate,
percent)
1977
January
February
March
188.1
190.2
192.0
0.4
1.0
1.0
9.5
9.3
7.2
188.4
190.0
191.7
0.5
0.8
0.7
7.3
7.3
7.4
210.6
217.0
218.6
-0.4
3.0
0.7
16.4
9.4
0.3
April
May
June
194.3
195.2
194.5
1.0
0.4
-0.4
6.5
4.8
3.5
193.3
194.2
194.7
0.7
0.5
0.3
7.8
7.2
6.8
222.0
220.3
211.8
1.6
-0.8
-3.9
-0.9
-8.0
-9.4
July
August
September
194.8
194.6
195.3
0.1
0.2
0.4
2.4
3.1
4.8
195.9
196.9
197.8
0.7
0.5
0.6
6.4
5.8
6.2
209.6
208.1
208.1
-1.0
-0.7
0.0
-10.6
-3.3
7.4
October
November
December
196.3
197.1
198.2
0.5
0.8
0.5
6.3
7.9
8.9
199.1
199.3
200.0
0.5
0.2
0.5
6.2
6.4
6.2
209.9
216.6
219.5
0.9
3.2
1.3
12.4
18.5
21.3
January
February
March
200.1
202.1
203.7
0.8
0.9
0.8
10.2
10.0
10.7
201.6
202.9
204.1
0.7
0.6
0.4
6.8
7.9
8.4
222.2
226.5
229.2
1.2
1.9
1.2
24.1
18.6
20.4
April
May
June
206.5
208.0
209.6
1.1
0.7
0.8
9.9
8.6
8.5
206.1
207.4
208.7
0.8
0.7
0.7
8.3
8.3
8.7
233.8
235.9
240.9
2.0
0.9
2.1
18.1
13.7
14.9
July
August
September
210.7
210.6
212.4
0.4
0.3
0.8
8.6
8.9
8.8
210.1
211.4
212.5
0.7
0.6
0.6
8.7
9.0
8.8
241.5
241.5
245.7
0.2
0.0
1.7
16.8
17.4
14.3
October . . .
November
December
214.9
215.7
217.5
1.1
0.8
0.7
10.8
13.1
14.0
214.7
216.0
217.2
0.8
0.8
0.6
9.8
11.0
12.2
252.7
255.6
257.5
2.8
1.1
0.7
19.0
27.0
25.3
220.8
224.1
226.7
1.3
1.4
1.2
r!4. 3
13.6
13.6
220.0
222.5
225.4
1.2
1.1
1.2
r!3.4
13.8
15.0
263.4
272.2
275.0
2.3
3.3
1.0
17.5
16.6
16.5
T230.0
231.6
233.1
rl.2
H).5
0.7
r229.0
231.1
233.5
rl.4
rl.O
1.2
15.9
16.5
273.9
276.0
277.9
-0.4
0.8
0.7
15.3
8.2
236.6
238.1
1.5
0.9
237.2
240.3
1.6
1.4
282.8
283.1
1.8
0.1
1978
1979
January
February
March
April
May
June
July .
August
September
13.9
12.9
October
November
December
NOTE: Series are seasonally adjusted except those series that appear to contain noseasonal movement. Unadjusted seriesare indicated by @. Series numbers are for identification only and
do not reflect series relationships or order. Complete titles and sources are shown at the back of the book. The "r" indicates revised; "p", preliminary; "e", estimated; "a", anticipated; and
"NA", not available.
Graphs of these series are shown on page 48.
Percent changes are centered within the spans: 1-month changes are placed on the 2d month and 6-month changes are placed on
the 4th month.
http://fraser.stlouisfed.org/
II QCDTPMRPR
Federal Reserve Bank of St. Louis
1Q7Q
85
OTHER IMPORTANT ECONOMIC MEASURES
B |
PRICES, WAGES, AND PRODUCTIVITY—Con.
Iflj PRICE MOVEMENTS-Con.
332. Index
(1967=100)
332c. Change
over 1 -month
spans 1
(Percent)
Producer prices, finished consumer goods
Producer prices, capital equipment
Producer prices, intermediate materials
Year
and
month
332c. Change
over 6-month
spans 1
(Ann. rate,
percent)
333. Index
(1967=100)
333c. Change
over 1-month
spans 1
(Percent)
333c. Change
over 6-month
spans 1
(Ann. rate,
percent)
334. Index
(1967=100)
334c. Change
over 1-month
spans 1
(Percent)
334c. Change
over 6-month
spans 1
(Ann. rate,
percent)
1977
January
February
March
195.9
197.3
198.9
0.5
0.7
0.8
8.6
8.3
6.8
178.9
179.9
180.7
0.3
0.6
0.4
6.0
6.5
5.8
173.2
174.9
176.7
0.5
1.0
1.0
9.5
10.1
7.8
April
May
June
200.7
201.5
201.4
0.9
0.4
0.0
6.4
5.7
5.0
181.7
182.7
183.5
0.6
0.6
0.4
6.4
6.6
6.4
177.6
179.0
178.9
0.5
0.8
-0.1
7.2
5.9
4.5
July
August
September
202.1
202.8
203.8
0.3
0.3
0.5
3.6
3.9
5.0
184.5
185.7
186.4
0.5
0.7
0.4
8.1
8.0
8.5
179.3
180.0
180.6
0.2
0.4
0.3
4.2
4.1
5.0
October
November
December
204.3
205.4
206.4
0.2
0.5
0.5
5.9
6.8
7.1
188.9
189.9
191.1
1.3
0.5
0.6
8.6
8.5
8.8
181.3
182.6
183.3
0.4
0.7
0.4
6.0
7.0
7.8
January
February
March
208.0
209.6
210.9
0.8
0.8
0.6
7.7
7.8
7.9
192.3
193.4
194.4
0.6
0.6
0.5
7.3
7.8
8.1
184.6
186.2
187.5
0.7
0.9
0.7
9.5
9.2
10.1
April
May
June
212.0
213.3
214.4
0.5
0.6
0.5
7.2
7.0
7.0
195.7
197.2
198.7
0.7
0.8
0.8
8.3
8.0
8.1
189.7
190.8
192.3
1.2
0.6
0.8
10.1
8.6
9.0
July
August
September
215.4
216.8
218.2
0.5
0.6
0.6
8.5
8.9
9.4
200.1
201.0
202.1
0.7
0.4
0.5
8.0
8.2
7.9
193.7
194.0
195.8
0.7
0.2
0.9
8.3
8.3
9.3
October
November
December
220.8
222.6
224.2
1 .2
0.8
0.7
10.8
11.8
12.8
203.4
205.1
206.4
0.6
0.8
0.6
8.6
9.5
9.5
197.4
198.6
201.0
0.8
0.6
1.2
10.7
13.1
13.5
226.7
229.2
231.7
1.1
1.1
1.1
rl3.4
13.4
13.7
208.5
210.3
211.5
1.0
0.9
0.6
rlO.8
10.0
9.7
203.8
206.3
208.6
1.4
1.2
1.1
H3.3
12.6
10.9
r235.1
237.0
239.1
rl.5
rO.8
0.9
15.5
15.7
r214.1
215.1
216.2
rl.2
rO.5
0.5
9.2
7.7
r210.1
210.7
211.7
0.7
0.3
0.5
10.5
11.4
243.6
246.5
1.9
1.2
214.2
217.7
1.2
1,6
. . .
1978
1979
January
February
March
April
May
June
July
August
September
217.9
218.2
0.8
0.1
October
November
December
NOTE: Series are seasonally adjusted except those series that appear to contain no seasonal movement. Unadjusted series are indicated by ©. Series numbers are for identification only and
do not reflect series relationships or order. Complete titles and sources are shown at the back of the book. The "r" indicates revised; "p", preliminary; "e", estimated; "a", anticipated; and
"NA", not available.
Graphs of these series are shown on page 48.
Percent changes are centered within the spans; 1-month changes are placed on the 2d month and 6-month changes are placed on
the 4th month.
86
OTHER IMPORTANT ECONOMIC MEASURES
PRICES, WAGES, AND PRODUCTIVITY—Con.
Bl WAGES AND P R O D U C T I V I T Y
Average hourly compensation, all employees,
nonfarm business sector
Average hourly earnings, production workers, private nonfarm economy, adjusted 1
Year
and
month
Current dollar earnings
340. Index
(1967=100)
340c. Change
over 1-month
spans 2
(Percent)
Current dollar compensation
Real earnings
340c. Change
over 6-month
spans 2
(Ann. rate,
percent)
341. Index
(1967=100)
341c. Change
over 1 -month
spans 2
(Percent)
341c. Change
over 6-month
spans 2
(Ann. rate,
percent)
345. Index
(1967=100)
345c. Change
over 1-quarter
spans 2
(Ann. rate,
percent)
345c. Change
over 4-quarter
spans 2
(Ann. rate,
percent)
1977
January
February
March
191.1
191.9
193.0
0.8
0.4
0.6
7.9
7.6
7.4
108.7
108.2
108.2
0.1
-0.5
0.0
0.0
-0.5
-0.8
203.7
April
May
June
194.4
195.5
196.4
0.7
0.6
0.5
7.1
6.7
6.9
108.1
108.2
108.1
-0.1
0.1
-0.1
-0.3
0.3
0.9
207.2
July
August
September
197.8
198.2
199.6
0.7
0.2
0.7
7.4
7.2
7.4
108.6
108.3
108.6
0.5
-0.3
0.3
2.2
1.8
2.0
211.4
October
November
December
201.4
202.4
203.5
0.9
0.5
0.5
8.5
8.6
8.9
109.3
109.2
109.2
0.6
-0.1
0.0
2.3
2.0
1.6
21 5.'4
January
February
March
206.0
206.6
208.3
1.2
0.3
0.8
8.9
8.7
8.8
109.8
109.4
109.5
0.5
-0.4
0.1
0.6
-0.1
-0.7
221.7
April
May
June
210.2
211.0
212.2
0.9
0.4
0.6
7.9
7.9
7.7
109.6
109.1
108.8
0.1
-0.5
-0.3
-1.3
-1.2
-1.5
226'.6
July
August
September
214.0
214.6
216.2
0.8
0.3
0.7
7.5
7.7
8.1
109.1
108.7
108.7
0.3
-0.4
0.0
-1.7
-1.1
-0.4
230.9
October
November
December
218.0
219.0
220.7
0.8
0.5
0.8
8.3
8.9
8. 6
108.7
108.5
108.6
0.0
-0.1
0.1
-1.0
-1 .7
-2.4
236.1
222.8
223.9
225.3
1 .0
0,5
0.6
8.4
7.8
r7.5
108.6
107.8
107.3
o.o
-0.7
-0.5
-3.1
-4.5
r-5.3
242.1
April
May
June
227.0
227.4
r228.8
0.8
0.2
rO.6
r7.0
p6.4
107.0
106.1
105.6
-0.3
-0.8
-0.5
-5.7
p-5.7
246^7
July
August
September
r230.4
p231 .0
0.7
pO.3
r!05.4
p!04,6
r-0,2
p-0.8
9.0
8 "2
7.0
8.0
8.3
8.8
7.7
9.'l'
1978
12.2
9.2
8.0
9.6
9.0
9!2
9.3
9.2
1979
January
February
March
10.6
7.9
October
November
December
NOTE: Series are seasonally adjusted except those series that appear to contain no seasonal movement. Unadjusted series are indicated by ®. Series numbers are for identification only and
do not reflect series relationships or order. Complete titles and sources are shown at the back of the book. The "r" indicates revised; "p", preliminary; "e", estimated; "a", anticipated; and
"NA", not available.
Graphs of these series are shown on pages 49 and 50.
Adjusted for overtime (in manufacturing only) and interindustry employment shifts.
Percent changes are centered within the spans: 1-month changes are placed on the 2d month, 6-month changes are placed on the
4th month, 1-quarter changes are placed on the 1st month of the 2d quarter, and 4-quarter changes are placed on the m i d d l e month
of the 3d quarter.
•tru
0~7
OTHER IMPORTANT ECONOMIC MEASURES
B
|
PRICES, WAGES, AND PRODUCTIVITY—Con.
EM WAGES AND PRODUCTIVITY-Con.
Year
and
month
Average hourly compensation, all employees,
nonfarm business sector-Con.
Real compensation
346. Index
(1967=100)
346c. Change
over 1-quarter
spans 1
(Ann. rate,
percent)
346c. Change
over 4-quarter
spans 1
(Ann. rate,
percent)
Negotiated wage and benefit
decisions, all ndustries®
348. First year 349. Average
average changes changes over
life of
contract
(Ann. rate,
percent)
(Ann. rate,
percent)
Output per hour, all persons, private
business sector
370. Index
(1967-100)
370c. Change
over 1-quarter
spans 1
(Ann. rate,
percent)
370c. Change
over 4-quarter
spans 1
(Ann. rate,
percent)
358. Index of
output per hour,
all persons,
nonfarm
business sector
(1967=100)
1977
0.8
January
February
March
ns'.o
April
May
June
114.7
July
August
September
115*.5
October
November
December
neiz
i.'s
-1.0
i'.2
3.0
9.0
118.5
8.9
10.2
6.0
6.2
z'.O
2.2
4.6
7.5
9.5
ns!6
ng'.y
116. * 4
1.8
115^9
C)'.5
117.6
i'.6
ns'.s
6 '.7
1 1 6 '. 7
i!s
117'.4
6!i
1 1 8 '. 3
-1 .7
6.1
-1.3
6.3
i'.8
2^6
119^3
1978
January
February
March
nyia
April
May
June
ne'.s
July
August
September
116.8
October
November
December
nsis
4.1
i '. i
-1.9
13.2
8.2
6.8
119^8
7.2
5.9
-6'.5
»
0.1
-0.8
2.5
6.0
6'.6
0.1
iig'.i
6.1
126^6
2.6
0.8
5.2
120.8
-\'.3
-0.5
ns.'e
1979
-0.4
January
February
March
116.7
April
May
June
115.2
-5.1
P2.5
plO.6
p5,2
i2o!6
-2.8
117^7
-2.4
p7.7
119.3
116*5
July
August
September
October
November
December . . .
NOTE: Series are seasonally adjusted except those series that appear to contain no seasonal movement. Unadjusted series are indicated by ©. Series numbers are for identification only and
do not reflect series relationships or order. Complete titles and sources are shown at the back of the book. The "r" indicates revised; "p", preliminary; "e", estimated; "a", anticipated; and
"NA", not available.
Graphs of these series are shown on pages 49 and 50.
'Percent changes are centered within the spans: 1-quarter changes are placed on the 1st month of the 2d quarter and 4-quarter
changes are placed on the middle month of the 3d quarter.
http://fraser.stlouisfed.org/
Federal Reserve
QQ Bank of St. Louis
OTHER IMPORTANT ECONOMIC MEASURES
C
I
LABOR FORCE, EMPLOYMENT, AND UNEMPLOYMENT
Q CIVILIAN LABOR F O R C E AND MAJOR COMPONENTS
Civilian labor force
Year
and
month
441. Total
(Thous.)
442. Employed
(Thous.)
Labor force participation rates
451. Males
20 years
and over
(Percent)
Number unemployed
452. Females 453. Both
20 years
sexes, 16-19
and over
years of age
(Percent)
(Percent)
37. Total
(Thous.)
444. Males
20 years and
over
(Thous.)
445. Females 446. Both
20 years and sexes, 16-19
over
years of age
(Thous.)
(Thous.)
447. Fulltime
workers
(Thous.)
448. Number employed
part-time
for economic
reasons
(Thous.)
1977
January
February
March
95,774
96,316
96,654
88,659
89,048
89,503
79.7
79.9
79.8
47.3
47.6
47.8
54.4
55.3
55.7
7,115
7,268
7,151
2,983
3,059
2,877
2,453
2,539
2,582
1,679
1,670
1,692
5,663
5,731
5,605
3,312
3,451
3,288
April
May
June
96,749
97,062
97,508
89,805
90,166
90,500
79.6
79.6
79.8
47.9
48.2
48.0
55.7
55.4
57.4
6,944
6,896
7,008
2,776
2,802
2,686
2,515
2,441
2,541
1,653
1,653
1,781
5,545
5,477
5,466
3,177
3,273
3,369
July
August
September
97,311
97,698
97,811
90,605
90,903
91,187
79.6
79.6
79.4
48.0
48.1
48.6
56.3
57.2
56.0
6,706
6,795
6,624
2,660
2,667
2,488
2,443
2,489
2,476
1,603
1,639
1,660
5,385
5,448
5,256
3,445
3,256
3,283
October
November
December
98,028
98,838
98,748
91,374
92,203
92,561
79.7
79.9
79.9
48.2
48.8
48.7
56.7
57.4
56.6
6,654
6,635
6,187
2,605
2,489
2,387
2,440
2,524
2,362
1,609
1,622
1,438
5,304
5,179
4,869
3,226
3,257
3,208
99,215
99,139
99,435
92,923
93,047
93,282
80.0
79.9
79.9
48.9
48.9
49.1
57.1
56.7
56.9
6,292
6,092
6,153
2,464
2,376
2,394
2,288
2,112
2,169
1,540
1,604
1,590
4,949
4,836
4,778
3,045
3,203
3,184
April
May
June
99,767
100,109
100,504
93,704
93,953
94,640
79.8
79.9
79.8
49.3
49.4
49.6
57.2
57.9
58.7
6,063
6,156
5,864
2,279
2,264
2,112
2,211
2,322
2,294
1,573
1,570
1,458
4,676
4,782
4,529
3,310
3,247
3,433
Juiy
August
September
100,622
100,663
100,974
94,446
94,723
95,010
79.7
79.5
79.5
49.7
49.6
50.1
58.6
59.1
58.3
6,176
5,940
5,964
2,187
2,181
2,172
2,413
2,231
2,230
1,576
1,528
1,562
4,890
4,641
4,652
3,316
3,298
3,203
October
November
December
101,077
101 ,628
101,867
95,241
95,751
95,855
79.5
79.9
79.9
49.9
50.1
50.2
58.6
58.4
58.6
5,836
5,877
6,012
2,145
2,113
2,195
2,134
2,208
2,227
1,557
1,556
1,590
4,505
4,491
4,597
3,164
3,131
3,058
January
February
March
102,183
102,527
102,714
96,300
96,647
96,842
80.2
80.3
80.1
50.1
50.3
50.5
58.9
58.6
58.7
5,883
5,881
5,871
2,200
2,154
2,180
2,166
2,177
2,201
1,517
1,549
1,490
4,500
4,584
4,499
3,159
3,147
3,179
April
May
June .
102,111
102,247
102,528
96,174
96,318
96,754
79.8
79.7
79.7
50.1
50.3
50.3
58.1
57.5
58.2
5,937
5,929
5,774
2,187
2,105
2,096
2,180
2,237
2,223
1 ,570
1,587
1 ,455
4,655
4,508
4,458
3,312
3,307
3,416
July
August
September
103,059
103,049
97,210
96,900
79.9
79.7
50.7
51.0
57.9
56.4
5,848
6,149
2,249
2,300
2,150
2,324
1 ,450
1,525
4,624
4,774
3,340
3,355
1978
January
February
March
1979
October
November
December
NOTE: Series are seasonally adjusted except those series that appear to contain noseasonal movement. Unadjusted seriesare indicated by ©. Series numbers are for identification only and
do not reflect series relationships or order. Complete titles and sources are shown at the back of the book. The "r" indicates revised; "p", preliminary; "e", estimated; "a", anticipated; and
"NA", not available.
Graphs of these series are shown on page 51.
OTHER IMPORTANT ECONOMIC MEASURES
GOVERNMENT ACTIVITIES
Q| RECEIPTS AND EXPENDITURES
Federal Government'
Year
and
month
Qj DEFENSE INDICATORS
State and local governments'
Advance measures of defense activity
500. Surplus
or deficit
501. Receipts
502. Expenditures
510. Surplus
or deficit
511. Receipts
512. Expenditures
(Ann. rate,
bil. dol.)
(Ann. rate,
bil. dol.)
(Ann. rate,
bil. dol.)
(Ann. rate,
bil. dol.)
(Ann. rate,
bil. dol.)
(Ann. rate,
bil. dol.)
517. Defense
Department
gross obligations incurred
(Mil. dol.)
525. Defense
Department
military prime
contract awards
(Mil. dol.)
543. Defense
Department
gross unpaid
obligations
outstanding
548. Value of
manufacturers'
new orders,
defense products
(Mil. dol.)
(Mil. dol.)
1977
January
February
March
-37^2
366^8
404! 6
24^2
285 '.4
26l!3
9,804
9,763
9,873
3,354
4,369
4,819
49,258
50,229
50,761
2,067
1,918
2,425
April
May
June
-4CL9
370.' 8
41l'.6
24.2
293!)
269^5
9,671
9,919
9,835
4,303
4,654
4,300
51,236
52,170
52,625
3,165
2,744
2,432
July
August
September
-53.*6
375^8
429^4
3o!i
305!2
275J
9,498
10,486
9,143
4,624
4,623
4,255
53,383
54,262
52,697
1,967
2,422
2,003
October
November
December
-53.'6
388 .'2
441.' 8
28.*8
31CL7
281 ! 9
10,697
10,208
9,652
6,028
4,100
5,530
54,775
55,479
55,771
4,358
3,311
4,252
January
February
March
-49.*4
397.' 8
447.' 3
30.'2
319!6
*
288 ! 8
10,959
10,410
10,272
4,552
4,071
5,878
57,304
58,401
58,986
2,798
2,520
4,394
April
May . .
June
-24.6
424.8
449.4
29^6
330. * 5
301 ! 6
10,107
10,988
9,818
4,501
6,614
7,278
59,348
60,723
60,549
3,792
3,933
3,259
July
August
September
-20 '.4
442'.l"
462 '.6
22.7
33\'.8
309 J
10,188
10,169
10,436
3,682
4,500
4,863
61,833
62,028
62,730
2,133
3,216
3,272
October
November
December
-16.3
463.' 5
479^7
27. 'l
342^6
315!s
10,733
10,619
9,759
4,480
6,467
4,490
63,006
63,440
64,470
3,841
4,371
4,083
-ll'.7
475!o
486! 8
27.*6
343.9
316.3
10,833
10,065
11,945
5,527
4,354
r6,753
65,120
48,267
67,128
2,781
3,858
3,101
r-7.0
r485,8
r492.9
r!9.7
r345.9
r326.i
9,377
10,993
10,508
4,605
4,616
4,422
68,883
68,468
68,976
3,213
3,618
2,497
12,594
(NA)
(NA)
70,252
(NA)
r2,304
p3,042
1978
1979
January
February
March
April
May
June
,
July
August
September
October
November
December
NOTE: Series are seasonally adjusted except those series that appear to contain noseasonal movement. Unadjusted series are indicated by (u). Series numbers are for identification only and
do not reflect series relationships or order. Complete titles and sources are shown at the back of the book. The "r" indicates revised; "p", preliminary; "e", estimated; "a", anticipated; and
"NA", not available.
Graphs of these series are shown on pages 52 and 53.
1
Based on national income and product accounts.
OTHER IMPORTANT ECONOMIC MEASURES
D|
GOVERNMENT ACTIVITIES—Con.
Q| DEFENSE INDICATORS— Con.
National defense
purchases
Intermediate and final measures of defense activity
Year
and
month
557. Output of 559. Manufacturers' invendefense and
space equipment tories, defense
products
(1967-100)
(Mil. dol.)
561. Manufacturers' unfilled
orders, defense
products
580. Defense
Department
net outlays
588. Manufacturers' shipments, defense
products
(Mil. dol.)
(Mil. dol.)
(Mil. dol.)
570. EmployDefense Department
ment in defense
personnel
products
industries
577. Military, 578. Civilian,
active duty © direct hire
employment ©
(Thous.)
(Thous.)
(Thous.)
564. Federal
purchases of
goods and
services
565. Federal
purchases as
a percent of
GNP
(Ann. rate,
bil. dol.)
(Percent)
1977
January
February
March
80.6
80.9
80.8
6,461
6,419
6,270
31 ,024
30,459
30,364
7,476
8,017
7,961
2,593
2,483
2,520
1,069
1,074
1,069
2,077
2,078
2,0 7 5
994
995
995
9K6
516
April
May
June
81 .9
81.7
81.8
6,227
6,231
6,305
31 ,114
31 ,384
31,319
s,nc9
8,404
8,023
2,415
2,474
2,497
1 ,08*
1,086
1,095
2,071
2,070
2,075
995
997
1,009
93J
5.0
July
August
September
82.0
82.0
82.6
6,304
6,338
6,335
30,755
30,730
30,188
8,040
8,119
8,046
2,531
2,446
2,545
1,105
1,098
1,098
2,079
2,073
2,075
1,U08
998
982
93.*9
4^9
October
November
December
79.6
79.9
81.6
6,178
6,273
6,389
32,019
32,743
34,430
8,563
8,652
8,782
2,527
2,588
2,565
1,060
1,061
1,085
2,072
2,069
2,060
983
985
983
96^4
4^9
January
February
March
82.6
80.8
83.9
6,451
6,622
6,634
34,633
34,511
36,108
8,209
8,061
8,433
2,595
2,642
2,796
1,110
1,116
1,127
2,065
2,062
2,058
982
982
982
97^6
4^9
April
May
June
84.9
84.9
85.6
6,734
6,840
6,823
37,150
38,382
38,914
9,338
8,303
9,113
2,750
2,701
2,728
1,131
1,150
1,160
2,054
2,046
2,057
982
988
1,000
98!2
4^7
July
August
September
87.5
87.9
89.0
6,902
6,892
6,890
38,467
38,993
39,499
8,426
9,810
7,934
2,581
2,690
2,765
1,171
1,180
1,181
2,062
2,062
2,062
1,002
994
980
99^0
4^6
October
November
December
89.3
90.3
91.4
6,985
6,988
7,167
40,660
42,293
43,563
9,428
8,645
9,658
2,680
2,738
2,813
1,193
1,203
1,220
2,058
2,050
2,041
981
981
978
101.'2
4^5
92.4
92.4
92.9
7,411
7,512
7,599
43,409
44,515
44,588
9,602
9,360
9,473
2,941
2,751
3,028
1,225
1,244
1,259
2,040
2,030
2,026
972
971
968
103 .'4
4. '5
April
May
June
92.9
92.5
r92.3
7,574
7,832
7,980
44,854
45,670
45,138
9,566
10,157
9,190
2,949
2,804
3,029
1 ,265
1 ,270
1 ,280
2,022
2,018
2,024
968
972
979
106^6
r4.5
July
August
September
92.4
p92.9
8,046
(NA)
r44,656
p44,674
rl 0,906
plO,426
r2,783
p3,026
pi, 288
(NA)
2,027
p2,023
982
p974
1978
1979
January
February
March
October
November
December
NOTE: Series are seasonally adjusted except those series that appear to contain noseasonal movement. Unadjusted series are indicated by @. Series numbers are for identification only and
do not reflect series relationships or order. Complete titles and sources are shown at the back of the book. The "r" indicates revised; "p", preliminary; "e", estimated; "a", anticipated; and
"NA", not available.
Graphs of these series are shown on pages 54 and 55.
http://fraser.stlouisfed.org/
Federal Reserve Bank of SFPTFMRFR
St. Louis
1 Q7Q
OTHER IMPORTANT ECONOMIC MEASURES
E I
U.S. INTERNATIONAL
TRANSACTIONS
l» MERCHANDISE TRADE
Year
and
month
602. Exports, excluding
military aid shipments,
total
(Mil.dol.)
604. Exports of agricultural products
(Mil.dol.)
606. Exports of nonelectrical machinery
(Mil.dol.)
612. General imports,
total
(Mil.dol.)
614. Imports of
petroleum and
petroleum products
(Mil.dol.)
616. Imports of
automobiles and parts
(Mil.dol.)
1977
January
February
March
9,626
9,922
10,250
1,762
2,004
2,112
1 ,831
1,892
1,859
11,036
12,340
12,702
3,075
3,247
4,171
1,083
1 ,248
1,299
April
May
June
10,262
10,467
10,109
2,142
2,360
2,077
1,808
1,835
1,868
11,889
11,190
13,572
3,803
2,885
3,933
1,266
1,183
1,360
July
August
September
10,286
9,576
10,848
1,976
1,801
2,064
1,862
1,732
2,133
12,361
12,113
12,695
3,212
3,318
3,789
1,315
1,328
1,428
October
November
December
9,385
9,554
11,116
1,654
1,755
2,111
1,556
1,791
2,056
12,409
12,049
13,335
3,325
3,627
3,157
1,426
1,465
1,479
January
February
March
9,864
9,945
11,146
1,818
2,058
2,363
2,084
2,187
2,450
13,103
14,260
14,004
2,968
3,586
2,996
1,529
1,661
1,581
April
May
June
11,630
11,786
12,268
2,428
2,861
2,904
2,415
2,472
2,427
14,492
14,008
13,970
3,051
3,084
3,252
1,715
1,659
1 ,684
July
August
September
11,662
12,294
13,274
2,392
2,774
2,512
^,451
2,528
2,815
14,545
14,133
14,820
3,082
3,291
3,448
1,812
1,666
1 ,822
October
November
December
12,901
13,451
13,282
2,596
2,533
2,555
2,625
2,718
2,824
14,852
14,825
15,032
3,454
3,539
3,417
1,872
1,875
1,822
January
February
March
13,132
13,507
14,452
2,338
2,424
2,682
2,682
2,832
2,917
16,231
14,806
15,273
3,773
3,501
3,506
1,963
1 ,706
1 ,589
April
May
June
13,883
13,862
15,038
2,547
2,450
2,909
2,706
2,859
3,034
16,036
16,342
16,937
3,795
4,137
4,101
1,956
1,851
1,730
July
August
September
15,669
(NA)
3,103
(NA)
3,022
(NA)
16,777
(NA)
4,753
(NA)
1 ,815
(NA)
1978
1979
October
November . .
December
NOTE: Series are seasonally adjusted except those series that appear to contain noseasonal movement. Unadjusted seriesare indicated by ®. Series numbers are for identification only and
do not reflect series relationships or order. Complete titles and sources are shown at the back of the book. The "r" indicates revised; "p", preliminary; "e", estimated; "a", anticipated; and
"NA", not available.
Graphs of these series are shown on page 56.
92
SEPTEMBER 1979
OTHER IMPORTANT ECONOMIC MEASURES
U.S. INTERNATIONAL TRANSACTIONS—Con.
Q| GOODS AND S E R V I C E S MOVEMENTS ( E X C L U D I N G T R A N S F E R S UNDER M I L I T A R Y GRANTS)
Merchandise, adjusted 1
Goods and services
Year
and
month
667. Balance
(Mil. dol.)
668. Exports
(Mil. dol.)
669. Imports
(Mil. dol.)
622. Balance
(Mil. dol.)
618. Exports
(Mil. dol.)
Income on investments
620. Imports
(Mil. dol.)
651. U.S. investments abroad
(Mil. dol.)
652. Foreign
investments in
the U.S.
(Mil. dol.)
1977
January
February
March
-2,320
44,850
47,170
April
May
June
-1,173
46,914
July
August
September
October
November
December
-4,272
3,192
29,518
37,185
7,775
48,087
31,075
37,639
8,080
46,897
48,556
30,558
37,996
8,420
3,686
45,935
50,207
-9,204
29,665
38,869
8,312
4,201
49,085
54,792
-11,899
30,811
42,710
9,776
4,537
-7,667
1978
January
February
March
April
May
June
-2,113
54,225
56,338
-7,907
35,267
43,174
10,256
5,402
July
August
September
-1,994
56,222
58,216
-8,012
36,491
44,503
10,526
5 574
October
November
December
i,66i
61,317
60,316
-6,369
39,315
45,684
12,907
6,308
rl,737
r64,893
r63,156
r-6,115
r41,348
r47,463
r!4,115
r7,251
p417
p67,563
p67,146
rp-7,716
rp42,792
rp50,508
pl5J61
p7,763
1979
January
February
March
April
May
June
July
August
September
October
November
December
NOTE: Series are seasonally adjusted except those series that appear to contain noseasonal movement. Unadjusted seriesare indicated by (u). Series numbers are for identification only and
do not reflect series relationships or order. Complete titles and sources are shown at the back of the book. The "r" indicates revised; "p", preliminary; "e", estimated; "a", anticipated; and
"NA", not available.
Graphs of these series are shown on page 57.
Balance of payments basis: Excludes transfers under military grants -:nd Department of Defense sales contracts (exports) and
Department of Defense purchases (imports),
http://fraser.stlouisfed.org/
II CCDTCMRFR
Federal Reserve Bank of St. Louis
1 Q7Q
93
OTHER IMPORTANT ECONOMIC MEASURES
F I
INTERNATIONAL COMPARISONS
Q| INDUSTRIAL P R O D U C T I O N
Year
and
month
47. United States, 7 2 1 . 0 E C D 1
European counindex of industrial production
tries, index of
industrial
production
(1967=100)
(1967=100)
728. Japan,
index of industrial production
(1967=100)
725. West
Germany, index
of industrial
production
(1967=100)
726. France,
index of industrial production
(1967=100)
722. United
Kingdom, index
of industrial
production
(1967=100)
727. Italy, index
of industrial
production
723. Canada,
index of industrial production
(1967=100)
(1967=100)
1977
January
February
March
133.7
134.5
136.3
152
152
153
191.4
188.8
191.4
153
152
154
157
155
157
122
123
123
153.6
153.4
153.8
150.4
148.4
149.8
April
May
June
137.1
138.0
138.9
149
150
149
190.4
189.8
191.1
152
152
153
152
151
157
122
124
121
144.0
147.1
137.3
148.2
149.8
151.3
July
August .
September
139.0
139.3
139.6
149
149
150
187.9
191.6
191.2
152
152
153
152
152
152
123
124
123
139.7
140.9
144.5
150.0
151.4
150.6
October
November
December
140.1
140.3
140.5
149
149
150
190.1
193.4
194.9
152
152
156
150
152
148
122
121
123
140.9
142.0
137.9
151.7
152.3
152.4
January
February .
March
140.0
140.3
142.1
153
r!52
150
196.9
197.0
199.5
157
152
152
152
152
155
123
124
123
143.8
146.1
145.9
152.8
155.3
155.8
April
May
June
144.4
144.8
146.1
153
152
153
200.5
201.5
201.8
153
152
154
161
157
r!52
128
126
128
143.5
143.8
145.3
157.5
155.3
158.4
July
August
September
147.1
148.0
148.6
153
r!52
H54
201.8
204.1
206.0
157
156
159
155
155
r!57
129
129
128
144.4
143.7
146.2
158.1
158.2
164.4
October
November
December
149.7
150.6
151.8
r!56
157
r!57
206.9
207.6
210.1
159
159
159
r!57
r!59
rl61
124
126
128
154.3
154.7
151.9
163.5
164.4
165.3
151.5
152.0
153.0
r!54
r!56
157
210.2
213.1
r212.6
159
157
161
158
158
161
r!2l
131
r!33
151.5
158.9
155.1
H65.9
r!65.5
r!66.6
April
May
June
150.8
152.4
r!52.4
r!58
H57
(NA)
214.2
r218.5
r219.8
161
160
p!64
158
r!61
p!61
131
132
pi 34
156.2
151.5
p!44.7
r!64.1
r!65.1
p!63.3
July
August
September
r-152.6
p!50.9
p220.8
(NA)
(NA)
(NA)
(NA)
1978
1979
January
February
March .
(NA)
(NA)
October
November
December
NOTE: Series are seasonally adjusted except those series that appear to contain noseasonal movement. Unadjustedseriesare indicated by ®. Series numbers are for identification only and
do not reflect series relationships or order. Complete titles and sources are shown at the back of the book. The "r" indicates revised; "p", preliminary; "e", estimated; "a", anticipated; and
"NA", not available.
Graphs of these series are shown on page 58.
Organization for Economic Cooperation and Development.
94
CCDTCMDCD 1
IM It
OTHER IMPORTANT ECONOMIC MEASURES
INTERNATIONAL COMPARISONS—Con.
19 CONSUMER P R I C E S
United States
Year
and
month
320. Index ®
Japan
320c. Change
over 6-month
spans 1
738. Index©
738c. Change
over 6-month
spans 1
735. Index®
United Kingdom
France
West Germany
735c. Change
over 6-month
spans 1
736. Index®
736c. Change
over 6-month
spans 1
(Ann. rate,
percent)
732. Index® 732c. Change
over 6-month
spans 1
(Ann. rate,
percent)
(1967=100)
(Ann. rate,
percent)
January
February
March
175.3
177.1
178.2
7.9
8.1
8.3
236.0
237.2
238.7
8.2
8.8
6.1
154.0
154.9
155.5
4.7
5.3
5.2
204.1
205.5
207.3
9.5
9.3
9.7
276.9
279.7
282.4
April
May
June
179.6
180.6
181.8
7.5
6.4
5.9
242.6
244.9
243.6
5.6
7.1
7.2
156.2
156.9
157.6
4.5
4.2
3.2
210.0
212.0
213.6
11.3
10.8
10.4
289.6
291.9
294.9
July
August
September
182.6
183.3
184.0
5.2
5.4
5.2
243.0
243.0
247.3
6.9
3.7
2.8
157.4
157.3
157.1
3.1
2.2
1.8
215.5
216.7
218.6
9.7
8.8
8.1
295.3
296.7
298.3
October
November
December
184.5
185.4
186.1
6.0
6.4
7.3
248.6
245.7
245.1
2.2
1.1
2.0
157.3
157.5
157.9
2.2
2.0
2.9
220.3
221.1
221.7
7.1
7.6
8.1
299.6
301.0
302.6
8.4
6.5
6.0
January
February
March
187.2
188.4
189.8
8.3
8.9
9.8
246.1
247.1
249.4
1.4
3.5
4.6
158.9
159.7
160.3
2.5
2.9
2.8
222.8
224.4
226.4
8.4
9.3
9.9
304.4
306.2
308.1
6.3
5.5
5.6
April
May
June
191.5
193.3
195.3
9.5
9.4
9.6
252.1
253.5
252.1
7.0
7.7
4.9
160.7
161.1
161.5
2.9
2.7
1.5
228.9
231.1
232.8
11.7
11.2
10.1
312.6
314.4
316.8
7.5
9.7
9.2
July
August
September
196.7
197.8
199.3
9.5
9.0
8.5
253.1
253.3
256.4
5.0
2.9
2.5
161.5
161.0
160.6
1.6
1.8
2.4
235.7
237.1
238.6
10.2
9.8
9.6
318.2
320.3
321.6
October
November
December
200.9
202.0
202.9
9.2
10.4
10.7
256.8
254.1
253.7
0.1
-2.1
0.0
160.6
161.1
161.8
3.1
3.4
5.0
240.8
242.1
243.2
8.7
9.1
10.4
323.1
325.3
328.0
11.2
204.7
207.1
209.1
11.4
12.4
13.2
253.9
253.1
255.1
0.5
2.8
4.5
163.5
164.5
165.5
5.4
5.6
5.2
245.5
247.1
249,4
9.8
10.4
10.9
332.9
335.6
338.3
1C. 6
258.6
261.3
261.5
8.3
(NA)
166.4
167.0
167.8
6.0
5.9
251 .8
254.5
256.6
11.9
(NA)
344.1
346.8
352.8
21.0
22.4
(1967=100)
(Ann. rate,
percent)
(1967=100)
(Ann. rate,
percent)
(1967-100)
(1967=100)
1977
18.9
16.0
14.7
11.2
11.9
11.6
9.4
10.2
9.5
1978
10.1
11.0
10.7
9.3
10.3
1979
January
February
March
April
May
June . .
211.5
214.1
216.6
July
August
September
218.9
221.1
13.4
13.1
263.8
(NA)
168.8
168,8
260.0
(NA)
10.1
12.7
368.0
370.9
October
November
December
NOTE: Series are seasonally adjusted except those series that appear to contain noseasonal movement. Unadjusted series are indicated by ®. Series numbers are for identification only and
do not reflect series relationships or order. Complete titles and sources are shown at the back of the book. The "r" indicates revised; "p", preliminary; "e", estimated; "a", anticipated; and
"NA", not available.
Graphs of these series are shown on page 59.
Changes over 6-month spans are centered on the 4th m o n t h .
http://fraser.stlouisfed.org/
1979
Federal Reserve Bank of SEPTEMBER
St. Louis
ItO
95
OTHER IMPORTANT ECONOMIC MEASURES
F I
INTERNATIONAL COMPARISONS—Con.
Q
CONSUMER PRICES-Con.
19. United
States, index
of stock
737. Index® 737c. Change 733. Index® 733c. Change prices, 500
over 6-month
over 6-month common
stocks®
spans 1
spans 1
Canada
Italy
Year
and
month
Qj STOCK PRICES
(1967=100)
(Ann. rate,
percent)
(1967=100)
(Ann. rate,
percent)
(1967=100)
748. Japan,
index of
stock
prices®
745. West
Germany,
index of
stock
prices®
746. France,
index of
stock
prices®
742. United
Kingdom,
index of
stock
prices®
747. Italy,
index of
stock
prices®
743. Canada,
index of
stock
prices®
(1967=100)
(1967=100)
(1967=100)
(1967=100)
(1967=100)
(1967=100)
1977
January
February
March
238.8
243.4
246.5
17.0
14.8
12.7
178.0
179.7
181.5
9.3
9.5
10.0
112.9
109.8
109.4
343.8
344.7
341.3
119.5
118.3
118.1
116.0
109.7
101.6
149.6
157.0
164.2
52.9
50.0
48.7
107.1
108.1
110.2
April
May
June
249.5
252.6
254.3
14.7
13.4
12.3
182.5
184.0
185.3
9.8
7.8
7.3
107.7
107.4
108.0
339.3
343.3
340.7
124.0
128.4
125.2
93.9
97.2
104.0
164.9
180.3
178.6
46.2
44.4
43.4
108.3
105.5
104.6
July
August
September
255.8
258.2
261.5
13.0
12.5
12.7
187.1
187.9
188.9
8.2
8.6
9.1
109.0
106.3
104.7
339.6
345.0
351.2
124.3
126.0
124.9
99.8
105.3
109.7
178.4
191.6
208.7
43.9
45.3
50.3
106.7
104.4
100.0
October
November
December
265.0
267.6
268.9
12.8
11.6
12.5
190.8
192.0
193.3
8.4
9.5
10.0
102.0
102.6
102.1
345.0
332.5
328.6
126.4
128.5
125.4
111.9
111.3
105.3
210.4
197.7
198.8
46.2
43.6
40.0
97.4
96.3
100.4
January
February
March
271.1
273.9
277.4
10.3
10.9
11.5
194.0
195.3
197.5
8.5
9.3
9.6
98.2
96.8
96.6
339.0
348.3
359.7
126.5
127.9
126.1
98.0
100.3
120.0
198.2
187.7
187.5
40.7
43.5
42.8
98.5
97.1
99.1
April
May
June
280.0
282.7
285.1
12.1
12.6
12.0
197.9
200.7
202.4
11.0
9.6
7.3
100.8
106.0
106.2
371.8
371.0
373.2
124.9
124.0
127.1
130.6
133.3
135.7
191.9
202.9
201.2
41.4
43.2
44.0
105.1
107.1
108.8
July
August
September
286.8
288.3
292.9
12.7
11.8
11.5
205.4
205.5
205.2
8.6
8.2
7.7
105.7
113.0
113.0
382.8
380.3
387.6
129.1
132.3
136.4
149.8
150.6
165.1
204.4
220.3
223.3
44.8
48.4
57.3
110.3
118.0
122.3
October
November
December
295.5
298.6
300.1
12.7
13.8
14.1
207.3
209.0
209.6
6.8
8.7
10.9
109.4
103.3
104.5
395.0
398.9
404.9
138.7
134.8
133.9
158.7
155.4
158.7
217.4
208.1
213.3
57.5
51.6
51.2
126.8
123.0
128.4
305.1
309.7
313.8
14.5
r!5.6
rl6.0
211.2
213.2
215.7
10.9
10.1
9.9
108.5
106.9
108.9
416.1
409.9
405.7
135.0
131.9
131 .2
160.9
149.9
155.4
211.1
212.2
240.8
52.4
54.8
57.9
p!35.2
p!37.0
p!42.5
April
May
June
317.8
r321.3
r324.5
r!5 4
15.6
217.2
219.3
220.3
111.0
108.5
110.7
402.9
411 .1
402.3
130.6
127.8
121.7
1G4.5
162.0
p!65.6
255.7
255.0
241 .0
54.1
56.8
58.0
p!46.3
pi 47 .5
p!57.2
July
August
September
r327.4
330.7
111.7
116.8
pl!6.9
400.6
408.0
p410,0
122.0
124.3
p!26,4
pi 66. 3
rp!75.0
pi 88. 9
232.8
233.9
p236.0
58.8
rp62,9
p64.8
p!56.2
rp!61 .4
p!70.7
1978
1979
January
February
March
October
November
December
222.1
229.9
9.5
8,5
.. .
NOTE: Series are seasonally adjusted except those series that appear to contain noseasonal movement. Unadjusted seriesare indicated by ®. Series numbers are for identification only and
do not reflect series relationships or order. Complete titles and sources are shown at the back of the book. The "r" indicates revised; "p", preliminary; "e", estimated; "a", anticipated; and
"NA", not available.
Graphs of these series are shown on page 59.
1
Changes over 6-month spans are centered on the 4th month.
96
SEPTEMBER 1979
APPENDIXES
C. Historical Data for Selected Series
Quarterly
Monthly
Annual
Year
Jan.
Feb.
Mar.
Apr.
May
June
July
6 . V A L U E O F M A N U F A C T U R E R S ' N E W O R D E R S , D U R A B L E GOODS
( B I L L I O N S O F DOLLARS
Aug.
INDUSTRIES ,
Sept.
Oct.
Nov.
Dec.
1 Q
II Q
III Q
IVQ
IN C U R R E N T DOLLARS
TOTAL FOR P E R I O D
1947.. .
1948.. .
1949.. .
1950.. .
1951...
1952...
1953...
1954.. .
1955.. .
1956.. .
1957...
1958.. .
1959 . . .
1960 . . .
1961...
1962.. .
5.66
7 .46
7.14
7.56
15.46
11.06
14.45
9.99
13.48
15.72
15.16
12.95
15.66
15.51
14.06
17.44
5.98
7.50
7.08
7.62
14.08
11.06
14.21
10.31
13.92
14.61
15.64
12.41
16.92
15.92
14.62
17.75
5.90
7.82
6.67
7.86
14 .64
12.81
13.34
9.72
14.96
15.04
15.14
12.48
16.64
15.19
14.48
17.06
5.89
8.00
6.16
8.35
13.84
12.94
13.69
10.17
14.24
15.69
14.11
11.79
16.83
15.00
15.26
16 .66
6.21
8.06
6.02
9.23
13.25
10.86
13.58
9.75
14.51
15.16
14.58
12.17
15.96
15.16
15.42
16.84
5.92
8.85
5.75
9.39
12.88
13.00
13.20
10.29
14.84
15.06
14.23
13.26
16.82
15.51
15.82
16 .71
5.95
8.85
5.93
11.52
12.61
12.04
12.35
10.50
14.98
14.75
13.43
13.11
15.72
15.23
15.64
16.99
6.19
8.92
6.85
14.21
11.41
11.76
10.89
10.45
15.04
17.73
14.03
13.54
14 .91
15.77
16.46
17.01
6.83
8.38
6.92
11.79
10.75
12.66
9.71
11.69
15.74
14.78
13.64
13.61
16.01
15.93
16.28
17.83
6.99
8.34
6.77
12.00
11.98
11.85
9.99
12.64
15.74
14.84
12.96
14.14
15.76
14.56
16.33
17 .88
7.36
7.95
7.12
10.95
11.55
11.95
9.94
11.14
15.74
15.78
13.58
15.33
14.70
14.72
16.99
17.67
7.72
7.72
7.00
11.88
11.18
12.89
9.96
12.60
16.42
15.73
12.54
14.58
15.96
14.85
17.58
18.63
17.54
22.78
20.89
23.04
44.18
34.93
42.00
30.02
42.36
45.37
45.94
37.84
49.22
46.62
43.16
52.25
18.02
24.91
17.93
26 .97
39.97
36.80
40.47
30.21
43.59
45.91
42.92
37.22
49 .61
45.67
46.50
50.21
18.97
26.15
19.70
37.52
34.77
36 .46
32.95
32.64
45.76
47 .26
41.10
40.26
46.64
46.93
48.38
51.83
22.07
24.01
20.89
34.83
34.71
36.69
29 .89
36.38
47.90
46.35
39 .08
44.05
46.42
44.13
50.90
54.18
76.60
97.85
79.41
122.36
153.63
144.88
145.31
129.25
179.61
184.89
169.04
159.37
191.89
183.35
188.94
2U8.47
1963.. .
1964.. .
1965.. .
1966.. .
1967 . . .
1968.. .
1969.. .
1970.. .
1971.. .
1972.. .
1973.. .
1974...
1975. . .
1976.. .
1977.. .
1978.. .
1979.. .
18.13
20 .62
22.10
25.59
24.82
27.13
29.31
28.02
29.86
32.32
40.51
45.46
41.04
45.80
55.91
62.61
18.90
19.99
22.36
25.69
24.80
27.33
30.05
27.78
30.09
33.08
41.40
45.43
40.38
47.68
55.74
65 .54
19.03
19.77
22.73
26.79
24.42
28.95
30.14
27.55
29.81
33.29
42.91
45.16
38.41
50.28
58.58
68.14
18.57
20.46
23.03
26.35
24.70
27.64
31.57
26.81
29 .14
33.63
42.41
45.79
40.72
50.01
57.98
69.25
18.94
20.54
22.36
25.89
25.91
27.27
29.65
27.80
28.70
34.39
42.85
48.82
40.42
50.43
58.27
68.90
18.09
20.61
22.68
26.73
26.66
27.46
29.14
28 .00
29.30
34.33
42.61
48.43
40.21
51.31
59.01
68.31
18.85
21.57
23.34
26.22
25.70
27.11
29.65
27.63
29.59
34.07
42.22
49.15
43.35
52.75
56 .94
65.94
18.69
20.18
23.16
25.86
26.30
27.43
29.35
26.89
29 .59
34.83
42.47
50.97
43.02
51.33
59.56
70.59
18.89
21.10
23.69
27.15
25.61
28 .62
30.67
27.83
30.53
37.00
42.78
48 . 7 2
43.89
51.08
60.70
72.40
19 .00
20.46
23.88
26.06
25.75
30.12
30.22
25.63
30.06
36 .64
44 .43
45.74
43.30
51.58
63.23
76.46
18.89
20.79
24.51
25.61
26.40
29.05
29.77
26.10
31.42
37.88
46 .06
45.47
44.43
53.86
63.07
76.91
18.48
22.02
25.14
25.58
28.63
29.16
29.50
29.05
31.89
39.27
43.53
41.46
44.52
56.52
65.98
76.83
56.06
60.38
67.19
78.07
74.04
83.41
89 .50
83.35
89.76
98.69
124.82
136.05
119.83
143.76
170.23
196 .29
55.60
61.61
68.07
78.97
77.27
82.37
90 .36
82.61
87.14
102.35
127.87
143.04
121.35
151.75
175.26
206.46
56.43
62.85
70.19
79.23
77.61
83.16
89 .67
82.35
89.71
105 .90
127.47
148.84
130.26
155.16
177.20
208.93
56.37
63.27
73.53
77.25
80 .78
88.33
89.49
80.78
93.37
113.79
134.02
132.67
132.25
161.96
192.28
230.20
224.46
248.11
278.98
313.52
309.70
337.27
359.02
329.09
359 .98
420 . 7 3
514.18
560.60
503.69
612.63
714 .97
841.88
44.29
37.05
41.68
70.39
55.29
65.86
46.05
63.92
64.12
61.72
49.92
63.82
59.73
55.84
67 .68
37 .03
47.14
32.09
47 .96
63.11
58.07
62.61
46.14
65 .10
63.85
57.42
49.09
63.82
58.58
60.10
64.96
38 .29
47.34
35.69
64.68
55.18
57.33
50.34
49.74
66 .83
65.15
54.64
52.95
59.85
60.61
62.54
67.05
43 .79
42.67
38.08
57.61
55 .10
57.90
45.85
55.28
68.65
62.74
51.69
57.48
59.57
57.11
65 .89
70.25
72.80
77.65
85.41
97.87
90.33
98 .70
101.77
91.40
94.71
99.56
121.88
121.31
72.21
78.92
86.23
97.89
94.16
96.82
102.26
89.61
90.82
102.70
121.86
119.79
72.84
80.37
88.51
97.57
93.89
97.07
100.74
88 .64
91.95
105.47
120.87
116.92
72.61
80.71
92.53
94.64
96.73
101.96
99.04
85.87
95.17
112.73
124.35
100.50
101.42
112.51
120.18
105.79
114.13
123.49
106.30
113.05
122.15
108.83
120.48
131.73
7.
V A L U E O F M A N U F A C T U R E R S ' N E W O R D E R S , D U R A B L E GOODS I N D U S T R I E S ,
( B I L L I O N S OF D O L L A R S )
1947 . . .
1948.. .
1949.. .
1950.. .
1951...
1952.. .
1953.. .
1954.. .
1955.. .
1956.. .
1957 . . .
1958.. .
1959 . . .
I960.. .
1961...
1962.. .
14.60
12.66
13.72
24 .73
17.55
22.71
15.33
20.39
22.33
20.43
17.06
20.34
19.89
18 .19
22.62
14.59
12.55
13.80
22.43
17.50
22.31
15.81
21.00
20 .66
20.99
16.37
21.95
20.40
18 .92
22.99
15.10
11.84
14.16
23.23
20 . 2 4
20.84
14.91
22.53
21.13
20.30
16.49
21.53
19.44
16.73
22.07
1963...
1964.. .
1965 . . .
1966.. .
1967.. .
1968.. .
1969.. .
1970.. .
1971.. .
1972.. .
1973.. .
1974.. .
23.54
26 .57
28.12
32.15
30.31
32.26
33.49
30.76
31.63
32.75
39.95
41.03
24.54
25.70
28 .40
32.19
30.24
32.30
34.19
30.50
31.77
33.32
40.51
40.63
24.72
25.38
28.89
33.53
29.78
34.14
34.09
30.14
31.31
33.49
41.42
39.65
1976.. .
1977.. .
1978...
1979.. .
32.48
37.15
38.62
33.63
36.87
40.11
35.31
38.49
41.45
ti.
VALUE OF M A N U F A C T U R E R S '
IN 1 9 7 2 DOLLARS
TOTAL FOK P E R I O D
12.20
15.27
10.96
14.99
21.86
20.44
21.33
15.54
21.35
21.89
18.91
15.57
21.71
19.21
19.75
21.56
12.75
15.27
10.79
16.43
20.94
17.13
21.03
14.91
21.66
21.08
19.49
16.05
20.54
19.46
19.92
21.78
12.08
16.60
10.34
16.54
20.31
20.50
20 .25
15.69
22.09
20.88
19.02
17.47
21.57
19.91
20.43
21.62
12.11
16.33
10.68
20.11
19.92
18.96
18.82
15.99
22.06
20.54
17.89
17.30
20.18
19.60
20.23
21.98
12.49
16.02
12.41
24.51
18.14
18.46
16.63
15.93
21.96
24.42
18.64
17.79
19.14
20.35
21.27
22.00
13 .69
14.99
12.60
20.06
17.12
19.91
14 .89
17.82
22.81
20.19
18.11
17.86
20.53
20.66
21.04
23.07
13.95
14.87
12.36
20.14
19.02
18.70
15.32
19.27
22.62
20.13
17.19
18.50
20.23
18 .81
21.12
23.16
14.58
14.11
12.98
18.19
18.33
18.87
15.25
16.91
22.54
21.35
17.96
20.02
18.88
19.06
22.00
22.92
15.26
13.69
12.74
19.28
17.75
20.33
15 .28
19.10
23.49
21.26
16.54
18.96
20.46
19.24
22.77
24.17
24.15
26.23
29.22
32.81
30.12
32.48
35.76
29.23
30.48
33.77
40 . 6 2
39.37
30.06
35.02
37.92
41.69
24.60
26.30
28.34
32.04
31.60
32.08
33.54
30.15
29.89
34.53
40.73
40.79
29 . 7 7
35.19
37.94
41.23
23.46
26.39
28.67
33.04
32.44
32.26
32.96
30.23
30.45
34.40
40.51
39.63
29.55
35.58
38.27
40.57
24.35
27.62
29.47
32.38
31.19
31.74
33.47
29.80
30.51
34 .00
40.18
39.32
31.80
36.35
36.57
38.85
24.11
25.81
29 .21
31.80
31.80
32.05
32 .97
28.94
30.22
34.73
40.30
39.92
31.45
35.20
38.04
41.23
24.38
26.94
29.83
33.39
30.90
33.28
34.30
29 .90
31.22
36.74
40.39
37.68
31.95
34.75
38 .44
42.07
24.48
26.10
30.08
32.02
30.95
34.86
33.61
27 .26
30.70
36.42
41.72
34.91
31.22
34.85
39.82
44.12
24.34
26.52
30.83
31.35
31.62
33.58
32.94
27.74
32.09
37.54
42.73
34.40
31.82
36.25
39.52
43.98
23.79
28.09
31.62
31.27
34.16
33.52
32.49
30.87
32.38
38 .77
39.90
31.19
31.69
37.73
41.14
43.63
N E W O R D E R S F O R C O N S U M E R GOODS A N D M A T E R I A L S I N 1 9 7 2 D O L L A R S
( B ILLIONS OF DOLLARS)
181.44
142.91
211.93
243.78
228 .59
224 . 6 6
197.21
264.50
255.86
225.47
209 .44
247.06
236.03
244 . 3 7
269.94
290.46
317 .65
352.68
387.97
375.11
394.55
403.81
355.52
372.65
420.46
488 . 9 6
458.52
368.25
422 .34
460.17
497.55
TOTAL FOR P E R I O D
1948.. .
1949 . . .
1950.. .
1951.. .
1952.. .
1953.. .
1954.. .
1955.. .
1956.. .
1957.. .
1958.. .
1959.. .
I960.. .
1961.. .
1962.. .
12.33
11.01
12.34
20.27
14.43
18.53
13 .67
19.03
18.88
17 .78
15.65
18 .86
18.49
16.61
20.53
12.22
10.66
12.39
18.13
14.52
17.75
14.39
18 .88
18.33
18 .52
14.82
20 .70
18.59
16.75
20.36
12.87
10.44
12.31
18 .62
16.22
18.00
14.44
20.21
18.21
18 .14
14.60
20 .03
17.50
17.77
20.03
12.52
9 .98
12.88
16.95
16.74
18.62
14.50
19.67
18.48
17.56
14.60
19.74
17.53
18.24
18.99
12.90
10 .03
14.37
16.28
14 .74
18.13
14.50
19.52
17.90
17.48
15.08
19.12
17.60
18.76
19.60
13.88
9.57
14.49
15.76
17.12
17.80
15.24
19.91
17.48
17.63
15 .94
19.21
17 .92
19.32
19.30
13.65
10.24
18.05
15.67
16.09
17.62
14.57
20.28
17.59
16.93
16.26
18.72
17.91
18.44
19.89
13.46
11.86
20.21
14.31
15.71
15.39
15.00
19.67
17.84
17.13
16.70
17.75
17.93
19.31
20.18
12.71
11.96
15.96
13.73
16 .58
13.77
15.78
19.35
17.38
17.19
17.27
18.59
18.29
19.23
20.43
12.30
11.17
16.11
15.21
15.72
13.32
15.97
19.13
17.95
16.46
17.22
17.98
17.67
19.27
20.65
11.91
11.66
14.68
14.66
15.78
13.56
16.92
19.85
18.02
15.81
18.17
17.46
17 .48
20.34
20.56
11.40
11.45
15.55
14.19
17 .05
13.68
18.14
19.46
18.19
14.91
17.98
18.72
17.26
20.91
20.08
37.42
32.11
37.04
57.02
45.17
54.28
42.50
58.12
55.42
54.44
45.07
59.59
54.58
51.13
60.92
39.30
29.58
41.74
48 .99
48.60
54 . 5 5
44.24
59.10
53.86
52.67
45.62
58.07
53.05
56 .32
57.89
39.82
34 .06
54.22
43.71
48.38
46.78
45.35
59.30
52.81
51.25
50.23
55.06
54.13
56.98
60.50
5.61
4.28
6.34
4.06
8.55
40.56
51.03
58 .44
54.16
47.18
53.37
54.16
52.41
60.52
61.29
152.15
130 .03
179.34
193.78
190.70
196.17
183.12
234 .96
216.25
205.54
194.29
226.88
214.17
224.95
240.60
1963.. .
1964.. .
1965.. .
1966...
1967 . . .
1968.. .
1969.. .
1970.. .
1971.. .
1972...
1973.. .
1974...
1975...
1976.. .
1977.. .
1978.. .
1979.. .
20.53
23.07
25.09
27 .07
26.33
27.98
30.06
26.04
28.87
30.31
36.10
34.78
26.56
30.83
33.95
35.14
21.73
22.63
25.38
27.49
26.17
28.51
30.07
27.63
28.81
31.08
36.78
34.58
26.72
31.73
34.58
36.71
21.67
22.39
25.41
28.56
26.08
28.61
30.10
27.60
29.14
31.01
37.19
34.13
26.05
32.81
36.15
37.28
21.86
23.26
25.08
27.61
26.28
28.11
29.94
27.38
28.34
31.11
35.96
34.16
27.43
32.44
34.96
38.47
21.51
22.96
25.14
27.36
26 .44
28 .70
29.51
27.69
28.06
31.38
36.41
35.27
27 .66
33.06
34.96
37.65
20.86
23.00
25.25
27.51
26.86
28 .87
29.85
28.29
27.90
32.12
36.16
34.92
28.06
33.36
35.39
37.33
21.72
23.82
25.90
26.98
26.72
28 .20
30.40
27.25
28.59
31.62
35.76
33.64
29.47
33.12
34 .-76
36.38
21.11
23.17
25.44
27.16
28.15
27.76
29.90
27.28
28.50
32.95
35.90
33.33
29.77
32 .94
35.93
37.97
21.27
24.37
25.22
27.05
26.97
29.49
30.36
27.59
28 .44
33.65
35.75
32.10
30 .28
32.27
35.64
37.67
22.10
23.04
25.65
27.38
26.43
30 .05
30.35
25.74
28.78
33.75
36.24
31.16
30.28
31.62
35.82
38.66
22.09
23.72
26.68
26.82
27.47
30.35
29.25
25.45
29.63
34.42
36.62
29.98
30.00
33.15
35.89
38.40
21.76
24.76
27.32
26.53
29.14
29.42
28.67
27.69
29.43
34.60
34.22
26.61
30.06
33.85
36.34
38.78
63. 9 j
68.09
75.88
83.12
78.58
85.10
90.23
83.27
86.82
92.40
110.07
103.49
79.33
95.37
104.68
109.13
64.23
69.22
75.47
82.48
79 .58
85.68
89 .30
83.36
84 .30
94.61
108.53
104.35
83.15
98.86
105.31
113.45
64.10
71.36
76.56
81.19
81.84
85.45
90.66
82.12
85.53
98.22
107.41
99.07
89.52
98.33
106.33
112.02
65.95
71.52
79.65
80.73
83.04
89.82
88.27
78 .88
87.84
102.77
107.08
87.75
90.34
98.62
108.05
115.84
258.21
280.19
307.56
327.52
323.04
346.05
358.46
327.63
344.49
388.00
433.09
394 .66
342.34
391.18
424.37
450.44
NOTE: These series contain revisions beginning with 1967.
(SEPTEMBER 1979)
97
C. Historical Data for Selected Series—Continued
Monthly
Quarterly
Year
Annual
Jan.
Feb.
Mar.
Apr.
May
June
July
19. INDEX OF STOCK PRICES, 500 COMMON STOCKS
(1941-43=10)
1947.. .
1948.. .
1949.. .
1950...
1951.. .
1952. . .
1953.. .
1954.. .
1955.. .
1956.. .
1957.. .
1958.. .
1959.. .
I960.. .
1961.. .
1962.. .
15.21
14.83
15.36
16.88
21.21
24.19
26.18
15.80
14.10
14.77
17.21
22.00
23.75
25.86
26.02
36.79
44.43
43.47
41.26
54.77
55.78
62.17
70.22
15.16
14.30
14.91
17.35
21.63
23.81
25.99
26.57
36.50
47.49
44.03
42.11
56.15
55.02
64.12
70.29
14.60
15.40
14.89
17.84
21.92
23.74
24.71
27.63
37.76
48.05
45.05
42.34
57.10
55.73
65.83
68.05
14.34
16.15
14.78
18.44
21.93
23.73
24.84
28.73
37.60
46.54
46.78
43.70
57.96
55.22
66.50
62.99
14.84
16.82
13.97
18.74
21.55
24.38
23.95
28.96
39.78
46.27
47.55
44.75
57.46
57.26
65.62
55.63
15.77
16.42
14.76
17.38
21.93
25.08
24.29
30.13
42.69
48.78
48.51
45.98
59.74
55.84
65.44
56.97
15.46
15.94
15.29
18.43
22.89
25.18
24.39
30.73
42.43
48.49
45.84
47.70
59.40
56.51
67.79
58.52
65.92
77.39
86.75
92.69
87.36
90.75
101.46
87.16
97.11
105.24
114.16
93.45
80.10
100.64
100.96
88.98
65.67
78.80
86.83
88.88
89.42
89.09
99.30
88.65
99.60
107.69
112.42
97.44
83.78
101.08
100.57
88.82
68.76
79.94
87.97
91.60
90.96
95.67
101.26
85.95
103.04
108.81
110.27
92.46
84.72
101.93
99.05
92.71
70.14
80.72
89.28
86.78
92.59
97.87
104.62
76.06
101.64
107.65
107.22
89.67
90.10
101.16
98.76
97.41
70.11
80.24
85.04
86.06
91.43
100.53
99.14
75.59
99.72
108.01
104.75
89.79
92.40
101.77
99.29
97.66
69.07
83.22
84.91
85.84
93.01
100.30
94.71
75.72
99.00
107.21
105.83
82.82
92.49
104.20
100.18
97.19
70.98
82.00
86.49
80.65
94.49
98.11
94.18
77.92
97.24
111.01
103.80
76.03
85.71
103.29
97.75
103.92
25.46
35.60
44.15
45.43
41.12
55.62
58 .03
59.72
69.07
1963.. .
65.06
1964.. .
76.45
86.12
1965.. .
93.32
1966.. .
1967.. .
84.45
95.04
1968.. .
1969...
102.04
1970.. .
90.31
1971.. .
93.49
1972.. . 103.30
1973.. . 118.42
1974.. .
96.11
1975. . .
72.56
96.86
1976.. .
1977.. . 103.81
90.25
1978.. .
1979.. .
Sept.
Aug.
Oct.
Nov.
15.45
16.19
15.89
19.87
23.36
24.26
23.97
32.18
42.11
46.24
41.24
50.95
57.00
53.73
68.00
56.17
15.27
15.29
16.11
19.83
22.71
25.03
24.50
33.44
44 .95
45.76
40.35
52.50
57.23
55.47
71.08
60.04
73.03
84.85
91.39
77.13
95.66
103.76
95.52
84.37
97.29
109.56
109.84
69.44
88.57
101.89
93.74
100.58
72.62
85.44
92.15
80.99
92.66
105.40
96.21
84.28
92.78
115.05
102.03
71.74
90.07
101.19
94.28
94.71
1 9 5 7 ...
1958.. .
1959.. .
I960.. .
1961...
1962.. .
1963..
1964..
1965..
1966..
1967.
.
.
.
.
. .
1968.. .
1969.. .
1970.
. .
1971..
1972..
1973..
1974..
1975..
.
.
.
.
.
.. .
1976
1977.. .
1978.. .
1979.. .
2.5
23.48
24.78
23.27
31.45
44.34
46.84
43.98
48.96
57.05
54.81
67.26
58.00
72.85
83.41
89.38
77.81
95.81
101.34
94.51
82.58
99.40
109.39
105.61
68.12
84.67
105.45
96.23
103.86
88 .7
42.5
76.2
81.2
78.1
84.4
9.4
16.9
40.0
36.2
80.0
52.5
25.0
46.9
75.0
41.0
79.9
23.4
51.3
80.3
29.4
89.7
24.7
38.3
81.6
48.7
1.3
4.0
47.9
27.8
43.1
15.4
39.4
70.8
50 .8
46.0
59.3
41.7
44.4
30.6
66.2
76.9
76.3
81.2
3.9
57.2
86.7
61.3
96.5
71.5
33.8
88.2
1.5
40.0
56.2
15.3
37.3
91.2
53.7
35.0
81.9
86.2
41.9
76.2
40.0
8.7
1.2
1.2
43.7
78.5
64.3
14.3
61.0
21.1
13.3
82.7
71.5
76.4
19.6
91.0
86.2
53.1
43.5
50.0
91.2
75.6
70.8
63.6
76.0
94.7
54.0
16.4
84.0
71.5
21.7
85.0
52.6
66.9
51.9
35.3
3.9
97.5
74.7
92.2
74.0
90.9
64.5
12.0
43.3
95.8
89.6
26.8
85.8
95.4
78.7
65.2
81.8
48.7
92.2
10.5
43.3
23.3
87.5
70.1
14.5
50.7
93.8
83 .1
27.4
30.6
46.0
8.1
85.6
80.6
35.0
42.5
69.4
59.4
53.1
51.9
72.5
77^5
62.5
12.5
96.2
75.0
•100.0
61.9
95.0
92.5
41.9
13.7
75.6
60.6
73.1
80.6
34.4
85.6
47.5
93.1
47.5
47.5
49 .4
21.2
5.6
9.7
69 .2
31.5
49.2
90.7
74.0
83.6
74.7
2.7
41.7
21.5
14.7
27.3
61.0
41.5
37.0
90.7
80.0
1.9
33.1
20.0
78.1
0.0
0.0
4.5
64.6
80.0
56.5
28.8
3.7
6.5
77.6
17.8
34.7
77.8
23.6
76.4
41.9
7.6
6.2
43.1
23.4
98 .3
968. DIFFUSION INDEX OF STOCK PRICES, 500 COMMON STOCKS-- 58-8 2 INDUSTRIES 1
(PERCENT RISING OVER 9-MONTH SPANS)
1948 ...
1949.. .
1950.. .
1951
1952.. .
1953.. .
1954.. .
1955.. .
1956.. .
1957.. .
1958...
1959.. .
I960.. .
1961.
. .
1962.. .
1963.. .
1964.. .
1965...
1966...
1967...
1968.. .
1969.. .
1970.. .
1971.. .
1972.. .
1973.. .
1974.. .
1975.. .
1976.. .
1977.. .
1978.. .
1979.. .
...
53.7
68.7
80.0
67.5
48.7
97.5
95.0
67.5
50.0
100.0
84.4
42.5
97.5
63.7
71.2
86.2
58.7
16.2
97.5
88.7
55.6
36.9
100.0
67.5
36.9
95.6
61 .2
70.6
71.9
70.0
42.5
17.5
96.2
70.0
48.7
20.0
98.7
61.9
38.7
81.2
61.2
83.7
67.5
45.6
64.4
30 .0
96.2
68.7
43.7
25.0
100.0
55.6
46.2
76.2
55.0
85.0
65.0
62.5
74.4
31.2
97.5
81.2
31.9
23.7
100.0
56.9
57.5
73.7
27.5
90.0
96.2
42.5
59.4
83.7
91.2
56.2
51.2
47.5
95.0
30.0
97.5
17.5
18.7
87.5
83.7
35.0
38.1
91.2
97.5
51.2
59.4
60.0
85.0
41.2
97.5
6.2
7.5
3.1
3.7
2.5
1.2
3.7
95.0
83.1
80.5
51.9
85.7
61.8
73.3
5.5
98.6
62.5
26.5
28.8
62.0
90.8
33.0
49.1
95.0
78.2
58.4
43.5
90.3
63.2
40.0
98 .7
86.5
51.9
37.7
97.4
71.1
14.7
95.0
85.9
58.4
22.1
93.4
76.3
12.0
89.1
84.6
72.7
11.7
92.1
82.7
84.6
84.6
67.5
78.2
81.8
61.0
25.0
77.8
67.6
17.6
10.6
93.8
93 .8
29.0
86.2
79.5
68.8
59.1
22.1
65.8
97.3
21.3
46.5
43.1
54.9
16.4
27.5
62.5
68.7
52.5
55 .0
92.5
96.2
72.5
65.0
95.0
85.0
42.5
97.5
5.6
5.6
6.9
95.1
59.0
19.1
10.6
98.5
93.8
43.5
62.1
91.0
68.1
25.0
97.2
84.7
19.1
6.1
6.1
100.0
95.4
54.8
69.8
95.4
89.2
54.8
82.8
6.7
6.5
9.7
86.2
85.3
21.3
27.8
56.9
43.7
30.9
68.4
93.3
25.3
31.9
31.9
54.9
23.9
4.6
4.6
3.1
89.2
64.6
17.7
87.7
80.8
45.4
26.6
70.2
66.2
56.5
27.4
67.5
32.5
96.2
78.7
61.2
80.0
53.7
100.0
63.7
33.7
31.2
100.0
50.6
68.7
71.2
18.7
77.6
65.6
63.6
20.1
71.1
81.3
20.0
72.2
44.4
47.9
26.9
10.8
90.8
62.9
22.6
68.4
15.03
15.19
16.54
19.75
23.41
IVQ
26.04
24.83
34.97
45.37
46.44
40.33
53.49
59.06
56.80
71.74
62.64
74.17
83.96
91.73
81.33
95.30
106.48
91.11
90.05
99.17
117.50
94.78
67.07
88.70
104.66
93.82
96.11
15.39
14.41
15.01
17.15
21.61
23.92
26.01
26.02
36.30
45.36
44.31
41.50
55.51
56.28
62.00
69.86
14.59
16.12
14.55
18.34
21.80
23.95
24.50
28.44
38.38
46.95
46.46
43.60
57.51
56.07
65.98
62.22
15.43
16.04
15.18
18.30
22.77
25.01
23.98
30.77
43.15
48 .04
46.11
47.55
58.73
55.72
66.83
57.83
15.25
15.56
16.18
19.82
23.16
25.11
24.43
33.53
44.14
46.15
40.64
52.31
57.76
55.33
70.27
59.62
15.17
15.53
15.23
13.40
22.34
24.50
24.73
29.69
40 .49
46.62
44.38
46.24
57.38
55.85
66.27
62.38
65.55
77.55
86.57
91.63
87.08
91.63
100.93
88.71
96.73
105.41
115.00
95.67
78.81
99.53
101.78
89.35
69.67
80.30
87.43
88.15
91.66
98.02
101.67
79.20
101.47
108.16
107.41
90.64
89.07
101.62
99.03
95.93
70.97
82.88
86.93
81.43
94.44
99.92
94.47
78.74
98.55
109.20
105.08
75.66
87.62
104.31
98.05
101.66
73.27
84.75
91.76
79.82
94.54
105.21
94.28
86.23
96.41
114.04
102.22
69.42
89.11
102.58
93.95
97.13
69.86
81.37
88 .17
85.26
91.93
98.69
97.84
83.22
98.29
109.20
107.43
82.84
86.16
102.01
98.20
96.02
5.0
23.7
1.2
65.6
31.9
6.2
90.0
81.2
91.9
86.9
46.9
41.2
86.2
52.5
71.2
90.0
67.5
96.2
71.9
45.6
89 .4
55.6
90.0
87.5
98.7
8 2 ".5
44 .9
73.1
66 .9
25.3
32.2
82.7
72.7
72.2
18.1
33.8
89.0
66.2
70.8
15.4
11.3
44.9
59.6
70.1
88.3
68.4
24.0
57.1
59.7
71.1
72.7
8.6
0.0
8.1
7.9
77.3
68.0
48.6
2.8
90.1
7.5
70.8
64.6
50.8
66.9
71.9
81,2
55.0
84.4
4.0
98.6
95.8
77.5
13.4
9.2
26.2
91.9
46.8
69.0
89.6
26.3
51.9
36.5
45 .8
15.6
81.2
68.5
25.6
16.0
89.2
67.9
77.7
51.0
47.3
75.2
49.1
54.8
34.8
82.3
59.0
39.8
64.6
74.8
82.9
54.6
38.7
8o!s
76.4
24.8
89.6
49.4
78 .9
49.6
54.4
64.8
86.2
44.2
42.7
54.6
61.2
84.0
60.0
65.4
63.1
63.7
63.0
63.0
55.6
53.6
50.7
80.9
60.4
44.1
41.3
82.5
57.5
46.8
68.0
44.5
73.3
72.8
79.4
45.7
81.4
32.0
22.9
49.8
84.9
78.7
20.3
75.8
91.8
78.7
39.0
29.6
76.0
54.5
45.9
30.3
67.1
86.2
43.3
22.3
51.2
45.4
17.3
25.5
67.0
41.3
44.1
80.2
60.4
69 .0
61.9
16.2
72.1
51.1
33.3
72.0
46.5
46.9
65.4
52.7
52.2
64.7
57.8
37.1
77.6
48 .2
73.1
38.9
67.1
36.6
48 .7
53.9
52.7
41.7
25.9
65.6
62.1
63.0
37.5
64.4
61.7
36.9
54.3
55.4
59.5
34.9
38 .6
62.4
58.1
39.1
47.6
54.1
73.3
68.5
52 ,Q
65.2
84.4
69.2
57.3
3.7
4.5
36.9
59.8
31.7
54.8
©
AVERAGE FOR PERIOD
11 .2
97.5
80.0
52.5
81.2
65.6
98.7
72.5
27.5
26.2
100.0
33.7
83.7
67.5
67.5
10.0
96.2
84.4
66.2
79.4
83.7
98.7
73.7
41.2
30.0
98.7
32.5
90.0
70.0
93.7
20 .0
92.5
96.9
62.5
65.0
83.7
98.7
60.6
33.1
30.0
96.2
26.2
97.5
62.5
95.0
69.2
75.3
60.4
47.4
52.6
71.3
14.7
95.8
50.7
42.0
35.8
23.1
87.7
57.3
19.4
39.1
71.2
76.6
67.5
58.4
46.1
52.0
25.3
97.2
59.7
36.2
53.7
38.5
80.0
56.5
16.1
47.3
84.4
76.6
70.1
66.2
50.0
56.0
31.5
98.6
65.3
34.8
35.8
70.8
80.0
48.4
23.7
67.3
49.6
88.3
70.4
56 .4
72.9
38.3
97.9
71.2
36.4
26.6
100.0
54.4
57.5
73.7
24.6
80.0
82.9
43.3
50.8
89.1
95.0
60.0
58.5
67.5
88.3
37.9
97.5
10.4
62.7
70.6
78.7
56.2
27 .5
97.1
84.6
57.3
35.6
99.6
71.3
39.4
91.4
3.1
7.9
96.2
82.6
63.6
44.4
91.1
65.4
42.7
89.6
85.0
66.2
13.4
90.6
81.4
13.3
19.9
77.3
65.3
22.5
78.4
72.1
61.2
17.3
68.4
90.6
22.2
50.2
39.8
52.6
22.4
5.6
94.9
63.2
23.5
15.2
86.8
93.3
43.8
60.3
7.1
6.2
92.8
82.5
33.8
85.6
79.3
54.9
25.5
68.7
NOTE: These series contain no revisions but are reprinted for the convenience of the user.
'Diffusion index is based on 82 components from 1948 through February 1963; the number of components then declines gradually to 58 at the end of 1978.
III Q
AVERAGE FOR PERIOD
31.9
72.5
90.0
93.1
13.7
0.0
51.9
70.6
12.5
71.2
88.7
20.0
81.2
71.2
66.2
21.9
56.2
80.6
80.6
47.5
88.7
Q
®
95.0
94.4
92.5
53.7
76.9
83.1
23.1
56.9
85.6
83.7
33.7
17.5
66.2
85.0
25.6
43.7
79.4
87.5
41.9
II
AVERAGE FOR PERIOD
15.06
15.76
15.49
19.08
12.5
100.0
19.4
47.5
85.6
65.0
90.6
53.7
95.0
95.6
29.4
75.0
40.0
38.1
41.2
86.9
33.1
23.1
73.7
87.5
98.7
76.9
71.2
93.1
72.5
41.2
57.5
91.9
86.2
27.5
86.9
25.6
1 Q
©
968. DIFFUSION INDEX OF STOCK PRICES, 500 COMMON STOCKS-- 58-8 2 INDUSTRIES
(PERCENT RISING OVER 1 -MONTH SPAMS)
1948...
1949.. .
1950.. .
1951.. .
1952...
1953...
1954.. .
1955.. .
1956...
Dec.
13.7
95.4
87.1
60.4
75.2
77.7
98.7
68.9
33.9
28.7
98.3
30.8
90.4
66.7
85.4
67.7
77.0
69.6
61.9
48.6
95.7
79.9
46.9
37.4
91.3
61.2
56.3
82.3
26.7
74.9
76.2
66.0
57.3
49.6
59.8
23.8
97.2
58.6
37.7
41.8
44.1
82.6
54.1
19.7
51.2
84.8
79.0
64.3
33.1
74.9
74.3
25.5
43.2
67.6
54.7
27.6
18.1
85.4
71.2
30.7
66.5
(SEPTEMBER 1979)
C. Historical Data for Selected Series—Continued
Quarterly
Monthly
Annual
Year
Jan.
Feb.
Apr.
Mar.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
1 Q
916. C O M P O S I T E I N D E X OF P R O F I T A B I L I T Y 1
(1967=100)
1947. ..
1948.. .
1*49.. .
1950 . . .
1951.. .
1952 . . .
1953.. .
1954.. .
1955.. .
1956.. .
1 9 5 7 ...
1958 . . .
1959.. .
I960.. .
1961.. .
1962. . .
1963.. .
1964.. .
1965.. .
1966.. .
1967.. .
1968.. .
1969.. .
1970.. .
1971 . . .
1972.. .
1973.. .
1974.. .
1975.. .
1976 . . .
1977.. .
1978.. .
1979 . . .
69.1
70.8
71.0
73.3
75.4
74.7
71.4
82.7
82.3
81.0
75.0
85.8
85.7
82.0
90 .0
69.7
70.7
71.6
73.5
75.1
74.4
72.0
82.9
82.7
80.9
75.7
86.8
84.8
83.2
89.7
71.0
70.5
72.4
73.9
74.7
73.5
72.8
83.6
82.5
80.9
76.1
87.7
84.2
84.3
89.0
72.0
70.2
73.3
74.2
74.3
73.2
73.6
83.8
81.7
81.1
76.9
88 .6
83.4
85.2
87.7
72.1
70.2
74.2
74.7
74.3
72.6
74.1
84.4
81.5
81.2
77.7
87.4
83.6
85.3
86.4
71.4
71.4
74.0
75.6
74.3
72.6
74.8
85.1
81.9
81.4
78 .6
86.8
83.0
85.6
87.1
70.7
72.5
75.3
76.8
74.0
72.4
75.4
84.9
81.7
71.2
71.6
75.8
77.0
74.2
70.7
76.3
85.2
81.2
72.2
70.8
76.4
76.9
74.4
69 .8
77.3
84.3
81.0
72.3
69.9
76.5
76.5
75.1
68.8
78.5
84.9
80.8
71.8
70.3
75.2
76.4
75.3
69.6
80.1
84.2
81.2
79.6
85.6
82.9
86 .4
87.8
80.9
85.0
82.1
86.9
88.2
82.4
84 .9
81.3
87.6
88.3
83.8
84.9
81.2
88.7
89.7
90.1
95.1
99.0
103.0
99.1
100.1
99.0
89.6
90.7
95.2
98 .5
89.0
80.1
94.6
94.5
90.9
90.0
95.8
100.2
102.7
99.1
98.9
98.6
88.4
92.1
95.9
97.2
87.2
82.3
96.3
94 .4
89.4
90.4
96.2
100.3
101.8
99.3
99.1
97.9
88.9
92.6
96.4
96.2
86.9
84 .4
95.8
94.9
90.4
91.4
96.5
100 .6
102.0
99.5
100.6
97.8
88.8
93.2
96.7
95.0
85 .4
86.2
95.4
95.1
92.1
92.1
96.7
100.9
100.9
99.7
101.4
97.9
87.5
93.2
96.7
93.8
84.1
88 .5
94.8
95.6
93.8
92.4
96.8
100.5
100 .4
99.6
101.6
96.6
87.5
93.2
97.0
93.2
82.7
90.4
94.8
96.3
94.1
92.5
97.5
100.8
100.1
100.0
101.3
95.4
87.6
93.4
97.1
93.2
80.2
91.9
95.0
97.0
94.2
93.2
97.4
101.5
98.8
100.4
100.8
94.8
88.0
93.3
97 .9
92.7
77.6
92.3
94.8
97.2
95.4
93.5
97.3
102.2
98.5
100.8
100.7
93.8
88 .3
93.7
98 .0
92.9
76.7
91.6
94.8
96.1
95.4
93.4
97.1
102.8
98.7
101.0
100.4
92.9
88.2
93.5
98.4
93.5
77.3
91.7
93.9
94.9
94.9
72.1
70.3
76.0
76.6
74.9
69.4
78.6
84.5
81.0
71.0
70.9
73.9
75.3
74.8
72.3
74.7
83.9
81.8
84.6
85.7
81.3
89.3
89.9
71.3
82.3
82.7
81.1
75.6
86.0
85.5
82.3
89.7
71.1
71.8
75.0
76.5
74.2
71.9
75.5
85.1
81.6
79.7
85.8
82.7
86.3
87.7
83.6
85.2
81.3
88.5
89.3
78.9
86 .2
83.3
85.5
88.6
93.3
96 .9
103.2
99.6
100.8
100.1
91.9
87.7
92.9
99.6
92.5
78.0
91.3
93.5
94.0
94.0
94.1
97.6
103.0
99.1
100.7
99.9
90.5
89 .4
94.3
99.1
90.1
78.2
92.3
94.3
92.7
93.4
90.2
95.7
99.8
102.5
99 .2
99.4
98.5
89.0
91.8
95.8
97.3
87.7
82.3
95.6
94.6
90.2
92.0
96.7
100.7
101.1
99.6
101.2
97.4
87.9
93.2
96.8
94 .0
84.1
88.4
95.0
95.7
93.3
93.1
97.4
101.5
99.1
100 .4
100.9
94.7
88 .0
93.5
97.7
92.9
78.2
91.9
94.9
96.8
95.0
93.6
97.2
103.0
99.1
100 .8
100.1
91.8
88.4
93.6
99.0
92.0
77 .8
91.8
93.9
93.9
94.1
92.2
96.7
101.2
100.5
100.0
100.4
95.6
88 .3
93.0
97.3
94.1
81.9
88.6
94 .8
95.2
93.2
53.5
23.6
76.4
56.3
67.4
62.5
53.5
88.2
50.0
59.0
19 .4
81.2
54.9
64.6
54.9
51.4
58.3
30.6
88.2
44.4
58.3
55.5
63.2
82.6
43.8
38 .9
63.2
73.6
34.0
78.5
52.8
60.4
41.0
63.2
77.1
41.6
72.9
45.1
56.2
54.9
61.1
44 .4
84.7
48.6
31.2
70.1
63.9
79.9
36.1
57.7
66.0
61.1
75.7
20.8
86 .8
75.7
60.4
10.4
71 .5
62.5
30.6
75.7
57.0
47 .2
43.8
76.9
50.9
68 .6
46.0
64.9
75.4
53.8
38 .2
59.7
66.5
37.7
72.2
57.1
66.7
77.1
69.4
65.3
58.3
69.4
54.1
47.3
75.0
75.7
59.7
59.0
66.7
69.5
65.3
65.3
63.9
55.6
57.0
45.8
60.4
79.9
66 .7
39.6
52.1
70.8
80.6
53.5
64.6
64 .6
56.9
48 .6
79.9
77 .1
59 .0
11.1
64.0
70.8
72.0
63.7
56 .6
64.1
58 .2
45.2
67.0
77.6
64 .4
39.9
67 .4
75.7
75.0
55.5
70.2
75.0
61.8
70 .8
77.8
65.4
70.8
71.4
D I F F U S I O N INDEX OF I N D U S T R I A L PRODUCTI ON--24 I N D U S T R I E S 2
( P E R C E N T R I S I N G OVER 1-MONTH S P A N S )
A V E R A G E FOR P E R I O D
54.2
20.8
72.9
54.2
75.0
52.1
35.4
89 .6
58.3
45.8
20 .8
83.3
66 .7
70.8
16.7
62.5
52.1
31.2
79.2
62.5
52.1
77.1
58.3
93.8
47.9
50.0
31.2
75.0
47.9
68.8
70.8
54.2
58.3
18.8
87.5
56.2
45.8
72.9
41.7
83.3
85.4
22.9
27.1
91.7
41.7
77.1
64.6
47 .9
58.3
20.8
81.2
33.3
62.5
62.5
83.3
81.2
18 .8
33.3
68.8
75.0
37.5
66 .7
52.1
52.1
58.3
52.1
95.8
43.8
66.7
31.2
64 .6
83.3
27 .1
60 .4
93.8
54.2
22.9
91.7
41.7
50.0
50.0
50.0
97.9
31.2
45.8
81.2
58.3
43.8
60.4
47.9
87.5
64.6
35.4
72.9
58.3
56.2
52.1
66.7
87.5
37.5
91.7
41.7
47.9
52.1
68.8
60.4
83.3
20.8
33.3
81.2
56.2
75.0
20 .8
72.9
45.8
56 .2
81.2
12.5
62.5
68 .8
54.2
25.0
83.3
60 .4
25.0
56.2
77.1
79.2
54.2
54.2
70.8
43.8
75.0
25.0
81.2
91.7
64 .6
8.3
68.8
45.8
47 .9
95.8
27.1
83.3
27.1
50.0
64.6
66.7
93.8
20.8
95.8
68.8
47.9
87.5
45.8
25.0
75.0
77.1
77.1
27.1
68.8
62.5
72.9
58.3
16.7
83.3
66.7
68.8
20.8
58.3
95.8
18.8
56.2
66.7
1963.. .
1964...
1965.. .
1966.. .
1967...
1968.. .
1969.. .
1970.. .
1971.. .
1972.. .
1973.. .
1974.. .
58.3
85.4
77.1
70.8
66.7
56.2
68.8
29.2
60 .4
83.3
58.3
22.9
83.3
68.8
70.8
62.5
16.7
85.4
45.8
43.8
45.8
72.9
83.3
62.5
70.8
43.8
70.8
79.2
35.4
58.3
79.2
43.8
52.1
77.1
75.0
64.6
77.1
89.6
58.3
62.5
75.0
58.3
31.2
54.2
81.2
85.4
35.4
43.8
64 .6
85.4
72.9
75.0
37.5
91.7
60.4
43.8
68.8
66.7
79.2
75.0
58.3
56.2
77.1
58.3
62.5
58.3
70.8
43.8
75.0
75.0
64.6
58.3
62.5
79.2
72.9
70.8
50.0
45.8
54.2
54.2
58.3
66.7
64.6
45.8
70.8
66.7
64.6
54.2
87.5
66.7
54.2
33.3
43.8
87 .5
64.6
41.7
66 .7
62.5
58.3
70.8
54.2
54.2
62.5
50.0
79.2
85.4
70.8
31.2
60.4
58.3
79.2
62.5
64.6
66.7
60.4
50.0
77.1
75.0
66.7
25.0
64 .6
77.1
79.2
47.9
70.8
77.1
56.2
29.2
75.0
85.4
72.9
31.2
77.1
83.3
50.0
58.3
50.0
54.2
66.7
87.5
70 .8
37.5
4.2
4.2
70.8
66 .0
72.9
70.8
39.6
66.6
64.6
38 .9
52.8
77.8
72.2
50.0
1976.. .
1977.. .
1978 . . .
1979.. .
79.2
58.3
39.6
85.4
72.9
47.9
66.7
68.8
85.4
58.3
70.8
87.5
68.8
72.9
54.2
75.0
83.3
83.3
56 .2
68.8
70 .8
62.5
75.0
83.3
47.9
66.7
70.8
56.2
72.9
66.7
62.5
66.7
79.2
66.7
72.9
87.5
77.1
66 .7
57.6
95.8
83.3
29.2
91.7
66.7
66 .7
83.3
25.0
100 .0
75.0
79.2
966.
1947 .
1948 . . .
1949 . . .
1950.. .
1951.. .
1952...
1953.. .
1954. . .
1955.. .
1956.. .
1957.. .
1958 . . .
1959.. .
I960.. .
1961.. .
1962...
1963.. .
1964.. .
1965.. .
1966.. .
1967.. .
1968.. .
1969.. .
1970 .. .
1971...
1 9 7 2 . ..
1973.. .
1974.. .
1975.. .
1976...
1977.. .
1978.. .
1979.. .
75.0
12.5
97.9
62.5
66.7
77.1
25.0
95.8
79 .2
58.3
8.3
100.0
79.2
50.0
79.2
91.7
95.8
83.3
91.7
50 .0
95.8
79.2
25.0
62.5
100.0
83.3
45.8
8.3
83.3
83.3
83.3
2.1
D I F F U S I O N I N D E X O F I N D U S T R I A L P R O D U C T I O N - - 24 I N D U S T R I E S 3
( P E R C E N T R I S I N G O V E R 6-MONTH S P A N S )
79.2
12.5
100.0
47.9
62.5
66 .7
43.8
100.0
62 .5
56.2
16.7
95.8
87.5
77.1
75.0
66 .7
20.8
95.8
37.5
68 .8
62.5
58.3
100.0
45.8
54.2
33.3
91.7
50 .0
91.7
58.3
62 5
75.0
27.1
100.0
29.2
50 .0
75.0
64.6
93.8
39.6
54.2
50.0
83.3
25.0
91.7
81.2
95.8
100.0
91.7
95.8
50 .0
89.6
75.0
33.3
75.0
91.7
87.5
37.5
16.7
75.0
91.7
79.2
100.0
100.0
79 .2
83.3
41.7
93.8
75.0
20.8
70.8
87.5
83.3
45.8
54.2
87.5
91.7
91.7
87.5
95.8
87.5
75.0
41.7
91.7
66.7
37.5
70.8
79.2
95.8
56.2
70.8
79.2
83.3
87.5
A V E R A G E FOR P E R I O D
45.8
83.3
41.7
100.0
35.4
79.2
58.3
70.8
95.8
50.0
37.5
83.3
79.2
37.5
100.0
70.8
45.8
66.7
52.1
95.8
39.6
95.8
45.8
62.5
87.5
60.4
27 .1
91.7
62.5
20.8
91.7
75.0
64.6
56.2
54 .2
93.8
37.5
91.7
20.8
83.3
100.0
50.0
22.9
95.8
45.8
20.8
100.0
54.2
83.3
41.7
54.2
95.8
37.5
100.0
18.8
79.2
87.5
58.3
6.2
100 .0
35.4
12.5
100.0
70.8
87.5
20.8
64.6
95.8
39.6
100.0
16.7
87.5
87.5
79.2
12.5
100 .0
62.5
8.3
95.8
77.1
89 .6
14.6
83.3
87.5
58.3
95.8
8.3
91.7
91.7
70.8
4.2
95.8
70.8
16.7
87.5
75.0
95.8
91.7
87.5
75.0
72.9
81.2
75.0
39.6
75.0
91.7
87.5
45.8
83.3
75.0
87.5
87.5
89.6
95.8
79 .2
66.7
85.4
79.2
66.7
62.5
75.0
95.8
83.3
45.8
87.5
75.0
83.3
85.4
87.5
83.3
91.7
70.8
70.8
83.3
87.5
50.0
70.8
83.3
87.5
50.0
87.5
75.0
89.6
87.5
83.3
79.2
95.8
66.7
87.5
77.1
60.4
45 .8
75.0
93.8
83.3
4.2
95.8
70.8
87.5
87.5
70.8
95.8
87.5
62.5
83.3
77.1
45.8
47.9
83.3
79.2
66.7
4.2
91.7
70.8
83.3
91.7
83.3
85.4
91.7
62.5
87.5
75.0
39.6
50.0
95.8
87.5
52.1
4 .2
95.8
79.2
75.0
87.5
2.1
4.2
100.0
83.3
25.0
95.8
77.1
91.7
77.1
43.8
91.7
75.0
19.4
95.8
72.2
72.9
70.8
51.4
75.0
40 .3
98 .6
34.7
75.0
59.7
66.0
92.4
50.0
39.6
75.0
75.0
27.8
94.5
75.7
87.5
87.5
91.7
50.0
89.6
87.5
35.4
52.1
95.8
83.3
58.3
12.5
91.7
79.2
79.2
77.1
75.0
93.8
95.8
41.7
91.7
79.2
33.3
41.7
93.8
83.3
45.8
95.8
98 .6
84.7
90.3
47.2
93.1
76.4
26.4
69.4
93.1
84.7
43.0
26.4
81.9
88.9
84.7
91.0
94.4
84.7
72.2
66 .7
84 .0
69.5
46.5
73.6
88.9
88 .9
49.3
80 .5
76.4
84.7
86.8
8.3
85.4
62.5
75.0
91.7
18.8
100.0
79.2
83.3
4.2
91.7
83.3
75.0
81.3
73.6
15 .3
97.9
49.3
66.0
68.8
42.4
98.6
62.5
56.2
'This series contains revisions beginning with 1948. 2 This series contains revisions beginning with 1976. 3 This series contains revisions
beginning with 1975.
IVQ
71.7
70.3
73.3
74.3
74.4
73.1
73.5
83.9
81.9
81.1
76.9
87.9
83.7
84.9
87.7
69.1
71.0
71.1
73.8
75.6
74.7
75.0
54.2
18.8
77.1
52.1
75.0
58.3
66 .7
81.2
43.8
81.2
6 .2
85.4
50.0
54 .2
77.1
1947.. .
1948 . . .
1949.. .
1950.. .
1951.. .
1952.. .
1953...
1954.. .
1955. . .
1956.. .
1957.. .
1958.. .
1959.. .
I960...
1961.. .
1962.. .
III Q
AVERAGE FOR P E R I O D
68.6
71.6
70.6
74.5
76.2
75.1
70.5
81.3
83.1
81.3
76.0
85.5
85.9
81.7
89.3
966.
II Q
78.5
39.6
57.7
95.1
38.2
97 .2
18.8
83.3
91.7
62.5
13.9
98 .6
47.9
13.9
98.6
67.4
89 .6
17.4
86.8
72.2
66.7
90.3
17.4
97.2
82.0
77.8
3.5
95.8
77.1
28 .5
91.7
75 .7
51.4
50.0
91.0
47.2
82.1
41.2
72.2
91.2
63.2
28.3
72.2
74.0
35.6
89 .4
72.4
80.5
86.1
91.7
66 .7
80.5
79.2
64.6
47.9
76.4
85.4
79.2
19.5
91.7
72.2
86.8
88.9
81 .9
88 .9
93.1
51.4
89 .6
80.6
36.1
47.9
95.1
84.7
52.1
7.0
93.1
80.6
76.4
82.0
87.3
92.0
88 .6
70.1
71.0
84.2
61.6
42.2
78.6
88.0
76 .2
29.7
72.9
77.8
84.2
85.6
(SEPTEMBER 1979)
nn
C. Historical Data for Selected Series—Continued
Quarterly
Quarterly
Year
Annual
IQ
IIQ
IIIQ
IVQ
16. CORPORATE PROFITS AFTER TAXES IN CURRENT DOLLARS
(ANNUAL RATE, BILLIONS OF DOLLARS)
1947
194&
1949
1950
1951
1952
1953
1954
1955
1956 . ...
1957
1958
1959
I960.
1 961
1962
1963
1964
1965
1966
1967
1968
1 969
1970
1971
1972
1973
1974
1975. ...
1976
1977
1978
1979
I960
1961
1962
1963
1964
1965
1966
1967
1968
1969
1970
1971
1972
1973
1974
1975
1976
1977
1978
1979
...
I960
1961
1962
1963
1964
1965
1966
1967
1968
1969
1970
1971
1972
1973
1974
1975
1976
1977
1978
1979
III Q
IVQ
18. CORPORATE PROFITS AFTER TAXES IN 1972 DOLLARS
(ANNUAL RATE, BILLIONS OF DOLLARS)
AVERAGE
AVERAGE
19.6
23.4
17.9
22.4
21.1
18.7
21.7
19.7
26.0
27.2
26.0
20.1
30.4
26.1
24.6
29.0
19.3
23.1
18.6
27.4
19.1
18.7
21.2
20.8
26.7
25.5
25.5
22.6
27.1
25.0
26.4
29.8
21.1
22.3
18.2
30.1
20.4
20.6
16.5
22.4
27.7
26.9
23.2
26.0
26 .3
24.0
28.5
30.6
20.2
22.7
18.7
24.7
21.3
19.5
20 .2
20.5
26.4
26.6
25.5
22.1
28.0
25.8
25.8
29.6
1947
1948
1949
1950
1951
1952
1953
1954.
1955
1956
1957
1958
1959
1960
1961
1962
44 .4
43.6
37.8
34.8
42.2
33.0
35.3
30.6
41.1
40.9
39.5
28.2
39.6
39.4
32.7
40.0
40.8
45.2
33.0
41.4
35.5
30.9
35.2
31.5
41.4
41.3
37.7
28.8
42.7
36.2
34.5
39.8
39.3
43.1
34.5
49.4
32.0
30.9
34.1
33.5
42.0
38.2
36.7
32.4
37.9
34.7
36.5
40.8
41.9
41.3
33.8
53.0
33.0
33.7
26.5
35.9
43.2
39.7
33.3
36.9
36.8
33.3
39.3
41.8
41.6
43.3
34.8
44.6
35.9
32.0
32.7
32.9
41.8
40.1
36.8
31.7
39.2
35.9
35.8
40.6
29.7
36.3
42.4
47.6
43.5
45.3
46.1
38.1
40.4
50.7
66.5
70.9
59.1
91.0
99 .2
106.7
31.2
36.3
43.9
47.6
43.6
46.6
44.9
37.1
43.1
52.3
67.9
72.8
64.6
91.6
103 .7
122.4
32.1
37.3
44.4
47.1
44.9
46.1
42.7
37.7
45.5
55.0
65.4
81.0
78.1
92.9
107.2
124.6
32.9
36.9
46.7
46.1
47.4
46.6
41.4
35.1
48.1
60.4
68.5
73.5
80.3
93.2
107.9
132.3
31.5
36.7
44.3
47.1
44.8
46.2
43.8
37.0
44.3
54.6
67.1
74.5
70.6
92.2
104.5
121.5
1963
40.3
48.8
56.4
62.0
54.9
55.1
53.8
42.2
42 .6
51.3
65.2
64.4
47.1
67 ,tf
70 .6
71.2
42.5
48 .8
58.2
61.4
54.6
56.1
51.6
40.5
44 .8
52.6
65.5
64.0
50.3
67.8
72.6
79.9
43.5
49.9
58.6
60.3
55.8
54.8
48.4
40.8
46.8
54.9
62.1
68.6
59.6
67.9
73.9
79.7
44.4
49.3
61.4
58.5
58.3
54.9
46 .4
37.4
49.2
59.8
63.9
59.9
60.5
67.4
73.1
83.2
42.7
49.2
58.6
60.5
55.9
55.2
50.0
40.2
45.9
54.6
64.2
64.3
54.4
67.7
72.6
78.5
1965
1966
1967
1968
1969
1970
1971
1972
1973
1974
1975
1976
1977
1978
1979
26. RATIO, PRICE TO UNIT LABOR COST,
NONFARM BUSINESS SECTOR1 (1967=100)
AVERAGE
20.6
18.6
16.4
15.3
16.2
12.2
12.2
11.0
13.4
12.8
12.3
9.4
12.0
11.1
9.3
10.4
18.5
19.2
14.9
17.2
13.3
11.6
12.1
11.3
13.2
12.9
11.7
9.6
12.5
10.2
9.6
10.2
17.9
18.5
15.5
19.4
11.9
11.5
11.9
11.9
13.3
12.0
11.4
10.4
11.2
10.0
9.9
10.4
18.6
17.6
15.9
20.2
12.5
11.9
9.6
12.3
13.5
12.5
10.7
11.5
10.8
9.6
10.5
10.3
18.9
18.5
15.7
18.0
13.5
11.8
11.4
11.6
13.4
12.6
11.5
10.2
11.6
10.2
9.8
10.3
1947
1948
1949
1950
1951
1952
1953
1954
1955
1956
1957
1958
1959
10.0
11.3
12.1
12.5
10.8
10.4
9.4
7.2
7.5
8.6
9.8
9.3
7.8
10.3
10.2
9.9
10.4
11.1
12.3
12.2
10.8
10.2
9.0
7.1
7.6
8.6
9.8
9.7
8.4
10.4
10.3
10.7
10.5
11.2
12.3
12.0
10.7
10.0
8.3
7.1
8.2
8.8
9.3
10.5
9.7
10.2
10.2
10.7
10.6
11.0
12.7
11.5
11.1
9.9
8.1
6.7
8.2
9.3
9.3
9.2
9.8
10.1
10.3
11.0
10.4
11.2
12.4
12.0
10.8
10.1
8.7
7.0
7.9
8.8
9.6
9.7
8.9
10.2
10.2
10.6
1963
1964
1965
1966
1967
1968
1969
1970
1971
1972
1973
1974
1975
1976
1977
1978
1979
30. GROSS PRIVATE DOMESTIC INVESTMENT, CHANGE IN BUSINESS
INVENTORIES, IN 1972 DOLLARS
(ANNUAL RATE, BIL. DOL.)
1947
1 948
1949
1950
1951
1952
1953
1954
1955
1956
1957
1958
1959
Annual
II Q
1 Q
20.7
22.3
20.3
18.8
24.9
19.9
21.6
19.1
25.6
26.7
27.1
19.6
28.1
28.3
23.5
29.0
22. RATIO OF PROFITS
AFTER TAXES) TO TOTAL CORPORATE
DOMESTIC INCOME
(PERCENT)
1947
1948
1949
1950
1951
1952
1953
1954
1955 ....
1956
1957
1958
1959
Year
1961
1962
09
5.6
-7.1
7.7
19.9
27
5.1
-4.1
8.0
5.5
29
-6.2
130
49
1.9
9.2
29
6.9
-2.5
8.0
14.6
54
1.9
-2.7
7.8
4.9
37
0.3
04
30
6.6
8.0
2.7
5.3
-7.7
22.1
7.0
7.2
-5.0
1.5
9.2
5.4
30
5.3
82
39
6.7
4.7
-0.2
5.5
-4 . 4
10.6
13.7
4.3
1.5
7.6
6.1
13.4
13.5
14.6
6.3
9.8
2.9
7.9
4.8
11.7
13.9
-19.4
8.9
11.3
16.5
7.0
8.0
10.6
17.8
7.5
11.8
12.2
4.8
10.0
10.1
14.8
9.2
-16.7
9.7
13.4
15.6
9.3
7.3
12.4
15.1
12.2
9.2
13.4
6.3
5.0
12.1
14.1
2.0
2.1
6.7
16.6
12.2
7.1
7.9
8.8
20.5
13.8
7.6
6.8
3.3
3.7
10.8
25.4
6.8
-5.2
1.1
11.3
12.0
7.8
7.3
11.3
16.7
12.0
8.7
10.6
4.3
6.6
9.4
16.5
8.0
-9.8
6.6
13.1
14.1
7.7
5.8
1.5
-1.8
6.5
4 .4
2 .9
8.1
Unless otherwise noted, these series contain revisions beginning with 1976.
this appendix for the first time.
97.6
100.3
99.6
101.2
100.7
100.3
98.8
97.6
100.8
98 . 2
97.9
97.0
100.1
97.5
97.1
97.7
97.2
99 .6
100.9
102.8
101.5
99.7
98.7
98.1
100.8
97.9
97.9
97.4
98.4
97.0
97.7
98.5
98 .2
100.6
99.6
102.7
101.8
99.7
96.6
99.1
100.2
98.1
97.4
98 .9
98.2
96.3
98.4
99.1
97.5
100.0
100.0
101.7
101.6
100.1
98.3
98.0
100.6
98.2
97.9
97.4
99.0
97.4
97.3
98 .4
98 .6
99.8
100.6
101.0
99 .8
100.1
99 .0
95.9
97.3
97.5
97.1
94.6
94 .7
97.9
96.8
94.7
99.3
99 .9
100.6
100 .5
99.8
100.4
98.5
96.6
97.2
97.5
96.1
94.4
96 .5
97.5
97.0
95.7
99.8
100.1
101.1
100 .1
100.0
100.1
97.8
96.9
97.7
97.8
95.5
94.0
98 .1
97.2
97.3
96.0
99.5
99.6
101.5
100.5
100.4
99.3
96 .9
96.7
97.5
98.3
95.6
93.8
97.1
96.7
96.5
95.9
99.3
99.8
101.0
100.5
100.0
100.0
98.0
96.5
97.4
97.8
96.1
94.2
96.6
97.3
96.9
95.6
34. NET CASH FLOW, CORPORATE, IN CURRENT DOLLARS
(ANNUAL RATE, BILLIONS OF DOLLARS)
AVERAGE
01
4.1
-0.3
4.4
13.4
13
3.9
-3.4
5.9
7.5
25
-6.8
50
135
-3.8
10.6
series is shown in
I960
AVERAGE
97 .0
99 .3
99.7
100.1
102.2
100.7
99.2
97 .0
100.4
98.8
98.5
96.2
99.3
98.7
96.0
98 .4
1947
1 y4 8
1949
1950
1951
1952
1953
1954
1955
1956 .
1957
1958
1959
I960
1961
1962
1963
1964
1965
1967
1968
1969
1970
1971
1972
1973
1974
1975
1976
1977
1978
1979
AVERAGE
19.9
21.7
20.8
19.1
26.2
23.0
25.6
24.1
32.3
34.6
35.5
30.1
39.3
40.4
36.6
45.0
19.1
23.6
18.6
22.7
22.7
21.6
25.5
25.7
33.1
35.1
34.9
30.4
42.0
38.4
38.3
44 .7
18.7
23.1
19.6
27.2
21.2
21.9
25.7
26.9
34.3
33.5
34.9
33.4
38.4
37.4
39.8
45.9
20.9
22.3
19.1
29.8
22.8
24 .0
21.8
29.0
35.2
34.7
33.5
37.4
38.1
36.6
41.6
47.0
19.7
22 .7
19.5
24.7
23.1
22.5
24.7
26.4
33.5
34.5
34.9
32.9
39.4
38.2
39.1
45.6
46.0
53.6
60.3
66 . 8
66.4
70.8
75.0
70.1
76.4
91.8
111.1
119.6
114.1
150.0
162.5
178.1
48.2
53.4
62.0
68.1
66.9
72.5
75.0
70.1
80.5
96 .6
113.6
122.6
121.7
150.1
170.5
195.5
49.2
54.7
63.1
6b. 7
69.0
72.2
73.7
72.1
84.0
98.3
111.3
132.2
136.2
152.6
176.2
197.3
50.3
54.2
65.1
69.3
73.2
73.8
73.0
70.6
87.8
105.0
116.1
126.4
139.7
154.5
177 .6
48.4
54.0
62.6
68 .3
68.9
72.3
74.2
70.7
82.2
97.9
113.0
125.2
127.9
151.8
171.7
194.1
205.7
(SEPTEMBER 1979)
C. Historical Data for Selected Series—Continued
Quarterly
Quarterly
Year
Annual
1 Q
IIQ
III Q
1963
1964
1965
1966
1967
1968
1969
1970
1971
1972
1973
1974
1975
1976 .
1977 .....
1978
1979 .....
1 Q
IV Q
35. NET CASH FLOW, CORPORATE, IN 1972 DOLLARS
(ANNUAL RATE, BILLIONS OF DOLLARS)
1947
1948
1949
1950
1951
1952
1953
1954
1955
1956
1957.
1958
1959
I960
1961
1962
Annual
Year
41.7
47.0
35.6
43.1
39.0
36.1
41,8
42.0
53.4
52.8
49.3
42.4
57.5
52.2
52.2
60.8
39,8
44.6
37.5
50 .4
35.9
36.8
41.9
43.9
53.9
49.2
48.9
46.4
52.4
50.9
54 .2
62.3
43.1
42.7
36.6
53.5
38.3
39.9
35.5
47.0
54.9
50.1
46.6
51.7
51.9
49.9
56.6
63.7
42.6
44.8
37.4
45.9
39.5
37.7
40.5
42.9
53.4
51.3
49.0
45.7
53.9
52.0
53.2
62.0
62.3
72.3
80.5
87.5
84.1
86.4
87.6
77.5
80.1
92.8
109.1
109.2
89.7
108.6
112.4
114.4
65.3
71.8
82.7
88.4
84.0
87 .8
86.6
76.7
83.6
97.1
110.3
108.0
92.6
107.6
115.8
123.5
66.6
73.4
83.6
88.5
85.8
86.3
83.7
77.6
86.2
98.0
106.2
112.1
101.6
108.3
117.5
122.5
67.9
72.5
85.8
88 .2
90.0
87.0
81.7
74.8
89.3
103.6
108.6
102.9
102.7
108.5
116.0
125.8
65.5
72.5
83.2
88.2
86.0
86.9
84.9
76.6
84.8
97.9
108.6
108.0
96.7
108.2
115.4
121.5
55. PERSONAL CONSUMPTION EXPENDITURES, AUTOMOBILES
(ANNUAL RATE, BILLIONS OF DOLLARS)
III Q
IV Q
49. VALUE OF GOODS OUTPUT IN 1972 DOLLARS
(ANNUAL RATE, BILLIONS OF DOLLARS)
AVERAGE
45.0
44.2
40.0
36.6
45.6
38.7
42.4
39.4
52.4
52.7
50.6
42.0
54.0
54.9
49.8
61.2
II Q
AVERAGE
1947
1948
1949
1950
1951
1952
1953
1954
1955
1956
1957
1958
1959
I960 . .
1961 . . .
1962
233.9
240.6
243.1
250.0
275.3
289.2
306.4
293.6
303.7
321.7
324.6
303.1
326.9
344.4
325.8
359.4
237.0
242.7
239.3
255.6
280.9
286.7
310.3
286.5
314.9
321.0
322.8
304.1
338.7
340.5
335.6
361.6
236.3
245.0
241.2
266.8
288.0
291.1
307.6
290.0
321.0
319.3
325.2
315.2
328 .8
336.4
341.3
364.2
239 .9
248.2
236.1
273.4
288.3
302.2
303.1
298.7
325.9
321.6
314.7
325.5
335.7
327 2
349.6
362.8
236.8
244.2
239.9
261.5
283.1
292.3
306.9
292.2
316.3
320.9
321.8
312.0
332.5
337.1
338.1
362.0
1963
1964
1965
1966
1967
1968
1969 .
1970
1971
1972
1973
1974
1975
1976
1977
1978
1979
367.2
386.8
410.7
448.5
458.6
468.9
491.6
483.6
490.0
505.8
565.6
562.8
518.7
572.2
605.0
621.4
369.0
393.7
414.2
452.9
460.1
480.1
493.2
486.1
488.8
522.8
565.1
559.1
531.0
577.5
610.6
637.2
375.9
397.9
424 .8
458.2
464.2
488 .7
494.5
488.5
492.0
530.6
568.0
554.6
552.2
581.2
622.5
641.8
379.8
397 .8
436.4
462.9
464.7
486 .7
489.9
475 .6
495.5
545 .0
577.4
540.1
551.0
582.6
624.2
657.3
373.0
394 .0
421.5
455.6
461 .9
481.1
492.3
483.4
491.6
526 .0
569.0
554.2
538.3
578 .4
615.6
639.5
64. COMPENSATION OF EMPLOYEES AS PERCENT
OF NATIONAL INCOME
(PERCENT)
AVERAGE
AVERAGE
1947 . . .
1948
1949
1950
1951
1952
1953
1954
1955 ... .
1956
1957
1958 ... .
1959
1 960
1961
1962
4.4
6.0
7.3
10.4
12.1
9.2
12.3
11.1
14.2
14.0
15.4
12.3
15.3
16.4
13.6
17.0
4.8
5.5
9.3
10.9
10.3
9.5
12.2
11.6
16.0
13.2
15.0
12.0
16.4
16.9
14.2
18.0
4.5
6.3
9.6
13.2
9.3
7.5
12.0
10.8
16.9
12.9
14.1
11.9
17.1
17.1
14.9
17.7
5.4
6.9
9.6
12.3
8 .8
10.9
11.5
11.8
15.7
14.1
14.4
12.7
14.8
16 .0
16.3
19.2
4.8
6.2
9.0
11.7
10.1
9.3
12.0
11.3
15.7
13.5
14.7
12.2
15.9
16.6
14.8
18.0
1947
1948 ...
1949
1950
1951
1952 ....
1953 ....
1954
1955
1956
1957
1958
1959
1960
1961
1962
66.1
65.2
66.0
66.2
65.9
68.1
69.0
70.3
68.1
69.7
70.6
71.7
70.1
70.8
72.2
71.0
66.7
63.7
66.5
65.9
66 .5
68.4
69.6
70.0
68.4
70.1
70.7
71.3
69.7
71.5
71.6
71.2
66.6
64 .6
66.2
65.1
66.7
68.4
69.9
69.4
68 .8
70.4
70.7
70.9
70.8
71.8
71.5
71.2
66.3
64.8
7.0
5.2
6.6
8.8
1.2
8.9
68 .9
70.7
71.3
70.1
71.0
72.2
71.0
70.9
66 .4
64.6
66.4
65.6
66 .4
68.4
69.9
69 .6
68.6
70.2
70.8
71.0
70.4
71.6
71.6
71.1
1963 ... .
1964
1965
1966
1967
1968
1969
1970
1971
1972
1973
1974
1975 ...
1976
1977
1978
1979
19.8
21.7
25.6
27.0
22.9
28.4
31.0
28.
33.
37.
45.
35.
35.9
51.6
62.4
62.3
20.6
21.9
24.8
24.0
25.5
28.8
30.4
29.5
34.5
38.8
44.6
36.2
36.9
52.9
61.3
70.2
20.6
23.0
25.4
24.8
25.0
30.5
30.8
29.3
34.9
39.5
42.4
39.9
42.3
53.2
60.9
68.9
21.1
20.6
25.4
24.6
24.6
30.5
30.5
24.0
36.7
41.7
38.7
33.4
45.8
55.2
62.2
70.6
20.5
21.8
25.3
25.1
24.5
29.6
30.7
27.8
35.0
39.4
42.9
36.3
40.2
53.2
61.7
68.0
1963
1964
1965
1966
1967
1968
1969
1970
1971
1972
1973
1974
1975
1976
1977 . ...
1978
1979
71.2
70.7
70.3
69.8
71.8
72.5
73.4
76.3
75.8
75.3
74.8
76.3
78.1
75.7
76.2
76.7
71.0
70.8
70.0
70.3
71.9
72.4
73.9
76.2
75.7
75.4
75.2
76.8
76.9
76.3
75.8
75.6
70.9
70.8
69.9
71.0
72.0
72.9
74.7
76.2
75.9
75.1
75.2
77.4
75.5
76.5
75.5
75.4
71.0
71.2
70.1
71.2
72.1
73.3
75.5
76.6
75.6
74.8
75.1
77.8
76.1
76.8
75.8
75.0
71.0
70.9
70.1
70.6
72.0
72.8
74.4
76.3
75.8
75.2
75.1
77.1
76.6
76.3
75,8
75.7
68. LABOR COST (CURRENT DOLLARS) PER UNIT OF GROSS PRODUCT
(1972 DOLLARS), NON FINANCIAL CORPORATIONS
(DOLLARS)
1947 . ...
1948
1949
1950
1951
1952
1953 ....
1954
1955
1956
1 957 . .
1958
1959
I960 .
1961 ..
1962
1963
1964 .
1965 ..
1966 .. .
1967
1968
1969
1970
1971
1972
1973
1974
1975
1976
1977
1978
1979
NOTE:
0.378
0.388
0.384
0.401
0.422
0.435
0.451
0 .435
0.458
0.479
0.502
0.492
0.498
0.511
0.500
0.375
0.389
0.380
0.409
0.428
0.438
0 .449
0.435
0.464
0.481
0.500
0.488
0.507
0.507
0.502
0.389
0.384
0.382
0.409
0.433
0.440
0.444
0.440
0.471
0.486
0.498
0.497
0.505
0.505
0.500
0.387
0.390
0.387
0.412
0.435
0.451
0.442
0.446
0 .477
0.492
0.491
0.498
0.508
0.497
0.498
0.382
0.388
0.383
0 .408
0.430
0.441
0.446
0.439
0.467
0.484
0.497
0.494
0.505
0.505
0.500
0.500
0.493
0.497
0.504
0.531
0.547
0.573
0.620
0.637
0.659
0.678
0.750
0.853
0.865
0.928
1.002
0.495
0.496
0.497
0.511
0.533
0.550
0.582
0.624
0.644
0.660
0.692
0.781
0.842
0.881
0.945
1.009
0.493
0.498
0.498
0.516
0.537
0.554
0.593
0.628
0 .648
0.662
0.705
0.814
0.839
0.896
0.954
1.024
0 .494
0.501
0.497
0.521
0.538
0.561
0.605
0.639
0.651
0 .666
0.723
0.841
0.858
0.917
0.975
1.042
0.495
0.497
0.497
0.513
0.535
0.553
0.589
0.628
0 .645
0.661
0.699
0.796
0.848
0.890
0.951
1.020
These series contain revisions beginning with 1976.
AVERAGE
79. CORPORATE PROFITS AFTER TAXES WITH IVA AND CCADJ IN
CURRENT DOLLARS
ANNUAL RATE, BILLIONS OF DOLLARS)
AVERAGE
1947
1948 ....
1949
1950
1951
1952
1953
1954
1955
1956
1957
1958
1959
I960
1961
1962
7.9
15.6
17.8
14 .4
11.7
16 .6
16.8
15.5
22.2
21.6
21.1
16.2
24.0
25.6
21.9
30.1
11.9
16.7
17.0
15.3
15.5
15.5
16.0
16.4
23.1
20.9
21.2
16.9
26.5
23.9
24.0
30.3
11.8
16.3
17.8
16.1
17.8
14.9
15.3
17.0
22.5
20.9
21.0
18.9
23.8
23 .8
24.3
30.4
12.1
18.2
14.6
17.2
17.2
17.0
12.8
19.0
22.8
20.0
19.3
21.7
24.1
22.3
26.3
32.7
10 .9
16.7
16.8
15.8
15.6
16 .0
15.2
17.0
22 .6
20.8
20.6
18.4
24.6
23.9
24.1
30.9
1963 .
1964 ... .
1965
1966
1967
1968
1969
1970
1971
1972
1973
1974
1975
1976
1977
1978
1979
32.2
38.5
44.5
49 .0
46.7
44.0
44.6
34.3
36.8
47.5
52.2
40.7
33.6
66 .1
67.9
70.4
32.9
39.1
45.6
49.3
46.2
47.8
43.6
34.3
39.4
49.9
48.3
33.8
43.1
61.1
76.4
84.7
34.0
39.8
47.0
48.0
46.7
47.6
42.5
34.0
39 .8
51.2
50.3
22.9
54.3
63.1
87.1
87.7
34.5
38.6
47.8
49.1
47.6
46.1
36.4
31.1
42.1
53.6
50.7
27.2
53.4
61.7
77.9
89.7
33.4
39.0
46.2
48 .8
46.8
46.4
41.8
33.4
39.5
50.6
50.4
31.2
46.1
63.0
77.3
83.1
(SEPTEMBER 1979)
101
C. Historical Data for Selected Series—Continued
Quarterly
Quarterly
Annual
Year
1 Q
II Q
III Q
Annual
Year
80. CORPORATE PROFITS AFTER TAXES WITH IVA AND CCADJ IN
1972 DOLLARS 1
(ANNUAL RATE, BILLIONS OF DOLLARS)
II Q
1 Q
IVQ
AVERAGE
III.Q
IVQ
81. RATIO OF PROFITS AFTER TAXES WITH IVA AND CCADJ TO
TOTAL CORPORATE DOMESTIC INCOME 1
(PERCENT)
AVERAGE
1947
19 4 8
1949 ....
1950
1951
1952 ...
1953
1954
1955
1956
1957
1958
1959
1960
1961
1962
16.0
29.9
33.1
26.5
19.6
27.4
27.5
24.8
35.5
33.1
31.0
23.4
33.9
35.5
30 .4
41.5
24.2
31.6
31.2
27.8
26.2
25.5
25.7
26.2
36.7
31.7
30.7
24.2
37.3
33.2
33.3
41.8
23.6
30 .0
33.0
28.6
30.0
24.6
24.3
27 .4
35.2
31.3
30.2
27.3
33.5
33.0
33.7
41.7
23.6
33.6
26.9
30.1
28.5
27.9
20.5
30.5
35.5
29.8
27.7
30.9
33.7
31.0
36.3
44.7
21.8
31.3
31.0
28.2
26.1
26.4
24.5
27.2
35.7
31.5
29.9
26.4
34.6
33.2
33.4
42.4
1947 . . .
1948
1949
1950 ... .
1951 ... .
1952
1953 .
1954
1955
1956
1957
1958
1959
I960
1961
1962
7.5
12.8
14.4
11.6
7.2
10.1
9.3
8.8
11.5
10.1
9.4
7.6
10.1
9.9
8.6
10.8
10.9
13.4
14.0
11.5
9.6
9.5
8.6
9.3
11.7
9.7
9.3
7.9
10.8
9.3
9.3
10.7
10.7
12.8
14.8
11.1
11.1
9.0
8.3
9.6
11.1
9.7
9.2
8.6
9.8
9.5
9.1
10.6
10.5
14.2
12.5
11.2
10 .4
9.7
7.3
10.3
10 .9
9.1
8.7
9.5
9.8
8.9
9.6
11.1
9.9
13.3
13.9
11.4
9.6
9.6
8.4
9.5
11.3
9.6
9.2
8.4
10.1
9.4
9 .2
10.8
1963
1964
1965
1966
1967
1968
1969
1970
19 7 1
1972
1973
1974
1975
1976
1977
1978
1979
43.8
51.8
59.1
64.0
59.0
53.5
52.1
37.8
38.6
48.0
51.2
36.7
27 .0
49.6
48.6
47.4
44.9
52.7
60.6
63.6
58.0
57.6
50.3
37.6
41.1
50.1
46.6
29.4
33.9
45.5
53.8
55.7
46.0
53.3
62.0
61.5
58 .2
56.8
48 .2
36.8
41.1
51.1
47.7
19.3
41.7
46 .4
60.3
56.7
46.6
51.6
62.9
62.4
58.7
54.3
40.7
33.1
43.0
52.9
47.1
22.4
40.7
45.1
53.2
56.9
45.3
52.4
61.2
62.9
58.5
55.6
47.8
36.3
41.0
50.5
48.2
27.0
35.8
46.6
54.0
54.2
1963
1964 ... .
1965
1966
1967
1968
1969
1970
1971
1972
1973 ... .
1974
1975 .
1976
1977
1978
1979
10.9
12.0
12.8
13.0
11.6
10.1
9.1
6.4
6.7
8.0
7.4
4.7
4.1
7.2
6.6
6.2
11.1
12.1
12.9
12.7
11.5
10.5
8.7
6 .6
6.9
8.1
6.7
3.8
5.3
6.6
7.3
7.1
11.2
12.0
13.1
12.2
11.2
10.3
8.3
6.3
7.1
8.1
6.9
2.0
6.5
6.6
8.1
7.2
11.2
11.5
13.0
12.3
11.1
9.8
7.1
5.9
7.0
8.1
6.6
2.4
6.3
6.4
7.1
7.2
11.1
11.9
13.0
12.6
11.4
10.2
8.3
6.3
6.9
8.1
6.9
3.2
5.6
6.7
7.3
6.9
82. RATE OF CAPACITY UTILIZATION, MANUFACTURING (FRB)2
(PERCENT)
1947
1948
1949 . .
1950
1951
1952
1953
1954
1955
1956
1957
1958
1959
I960
1961
1962
1963
1964
1965 .
1966
1967
1968
1969
1970
1971
1972
1973
1974
1975
j 976
1977
1978
1979
AVERAGE
83.9
76.9
75.6
88.3
84.6
91.0
80.8
84.5
87.6
86.5
74.1
81.4
84.5
73.8
81.2
83.3
73.5
81.1
87.4
82.9
91.3
79.7
87.4
86.5
84.6
72.4
84.6
81.3
76.4
81.3
82.5
73.8
87.0
84.1
84.2
90.0
79.1
87.5
84.2
83.9
75.4
80.5
78.9
78.4
81.6
80.4
72.4
87.5
83.5
89.8
84.7
80.8
88.6
86.3
79.4
78.2
80.1
75.8
80.6
81.6
82.5
74.2
82.8
85.8
85.4
89.2
80.1
87.0
86.2
83.6
75.0
81.6
80.1
77.3
81.4
1947
1948
1949
1950
1951
1952 .
1953
1954
1955
1956
1957
1958
1959
I960
1961 ... .
1962 .
82.3
84.5
88.9
91.1
88 .2
87.1
87.2
81.5
77.8
81.3
87.2
85.5
70.3
78.4
80.7
82.0
83.8
85.5
89.4
91.6
86 .6
87.3
86.5
80.3
78.2
82.8
87.7
85.5
70.7
79.5
82.1
83.9
83.6
86.1
89.9
91.2
85.9
86 .8
86.4
79.2
78.1
83.7
87.8
85.1
74 .6
80.0
82.4
85.2
84.2
86.5
90.0
90.6
86.9
86 .8
84.8
76.6
79.4
86.0
87.6
79.1
76.1
80.0
82.6
86.4
83.5
85.6
89.6
91.1
86.9
87.0
86.2
79.4
78.4
83.4
87.6
83.8
72.9
79.5
82.0
84.4
1963
1964
1965 ... .
1966
1967
1968
1969
1970
1971
1972
1973
1974
1975
1976
1977
1978
1979
84. RATE OF CAPACITY UTILIZATION, MATERIALS 2
( PERCENT)
AVERAGE
1947
1949
1950
1 951 ....
1952
1953
1954
1955
1956
1957
1958
1959
I960
1961
1962
1963
1964
1965
1966
1967
1968
1969
1970
1971
1972
1973
1974
1975
1976
1977
1978
1979
88.1
80.3
80.7
93.6
85.5
91.3
79.6
88 .3
92.8
88.2
72.6
84.8
86.6
71.9
82.9
88.3
74.4
87.0
93.5
79.7
92.4
79.8
92.4
90.7
85.4
71.1
89.5
80.9
76.5
bl.l
88.0
75.4
92.6
88.6
83.5
90 .4
79.7
93.4
85.0
85.3
77.1
77.8
78.0
80.7
80.7
84.7
74.7
93.5
85.3
90.7
83.5
83.3
93.9
89.2
80.0
80.8
79.8
73.7
82.6
81.3
87.3
76.2
88.4
90.2
84.8
89.4
80.6
92.0
89.4
84.7
75.4
83.0
79.8
77.9
81.5
81.8
85.7
91.0
91.8
87.4
86.8
88.3
84.5
81.6
84.5
91.4
89.9
71.2
79.8
81.7
8 2.. 6
85.0
87.1
91.2
92.0
85.2
87.9
88.2
82.7
82.3
86.2
91.9
89.0
70.4
81.3
83.2
85.0
83.6
88.7
91.7
91.9
85.1
87.3
88.8
82.7
80.5
87.4
92.3
88.5
74.7
8 1. 9
8'i.8
86 .4
84.8
89.8
90.2
90.1
86.4
87.4
87.9
80.1
81.4
89.7
91.6
81.2
77.1
81.3
83.0
88.2
83.8
87.8
91.0
91.4
86.0
87.4
88.3
82.5
81.4
87.0
91.8
87.2
73.4
81.1
82.7
85.6
'This series contains revisions beginning with 1976.
of the user.
but is reprinted for the convenience
109
83. RATE OF CAPACITY UTILIZATION, MANUFACTURING
( PERCENT)
2
This series conta
86
84
85
85
82
80
82
86
84
75
82
83
84
87
83
85
84
82
81
82
86
84
75
82
84
84
(BEA)3
END OF PERIOD
86
85
85
85
84
80
80
85
85
78
79
81
82
84
86
84
84
85
79
80
83
85
84
79
80
82
83
86. NONRESIDENTIAL FIXED INVESTMENT, TOTAL, IN 1972
DOLLARS 1
(ANNUAL RATE, BILLIONS OF DOLLARS)
86
85
85
85
84
80
80
85
85
78
79
81
82
84
AVERAGE
1947
1948
1949
1950
1951
1952
1953 ....
1954
1955
1956
1957
1958 .
1959
I960 ....
1961
1962
49.8
51.6
49.3
44.8
51.8
53.1
55.6
55.3
56.6
64.2
65.9
61.2
60.4
66 .7
64.0
69.0
48.8
50.4
46.8
48.9
53.0
53.7
55.8
54.8
60.1
65.2
65.7
58.5
62.4
67.0
65.2
71.3
48.0
50.4
44.4
53.0
53.9
48.9
57.0
55.9
63.1
66.0
67.1
57.2
64.3
65.2
65.6
72.2
49.0
51.8
43.5
53.3
52.9
52.8
56.6
55.5
65.1
65.5
65.4
58.9
64.5
65.2
67.6
71.3
48.9
51.0
46 .0
50.0
52.9
52.1
56.3
55.4
61.2
65.2
66.0
58.9
62.9
66.0
65.6
70.9
1963
1964 ...
1965
1966
1967 ....
1968
1969
1970
1971
1972
1973
1974
1975
1976
1977
1978
1979
70.5
77.6
90.0
104.7
103.7
106.9
113.9
111.6
107.8
113.3
128.5
134.0
117.7
115.3
126.3
133.1
72.7
79.9
93.8
106.1
103.3
105.9
113.7
111.7
107.1
114.6
130.7
133.8
112.9
117.6
128.3
140.3
74.6
82.2
97.1
107.0
102.8
107.9
115.2
110.8
107.4
116.5
132.5
130.6
112.0
120.7
130.8
141.6
76.4
84.5
101.5
106.4
104.1
111.3
114.2
106.0
109.6
122.9
132.4
124.1
111.8
122.5
131.7
145.5
73.5
81.0
95.6
106.1
103.5
108.0
114.3
110.0
108.0
116.8
131.0
130.6
113.6
119.0
129.3
140.1
isions beginning with 1967.
3r
his series contains no revisions
(SEPTEMBER 1979)
C. Historical Data for Selected Series—Continued
Quarterly
Quarterly
Year
Annual
1 Q
II Q
III Q
AVERAGE
1947
194b
1949 ...
1950
1951
1952
1953
1 954 ....
1955
1956
1 957 ....
1958
195y
I960
1961
1962
17.6
17.4
18.6
17.9
20.3
20.2
22.0
23.4
24 .4
27.2
28.2
27.5
25.7
28.7
29.6
29 . 6
17.3
18 .2
18.2
18.7
21.1
20.4
22.4
23.6
24 .9
28.2
28.2
26.5
26.7
28.3
29.2
30.8
17.4
18.8
17.4
19 .6
20.9
20 .6
22.5
23.6
25.7
28 .6
28.1
25.8
27.4
28.5
29.3
31.8
17.0
19.1
17.0
20.3
20.1
21.3
23.0
23.6
26.2
28.5
28 .0
25.9
27.4
29.7
29.2
31.1
17.3
18.4
17.8
19.1
20.6
20.6
22.5
23.5
25.3
28.1
28.1
26.4
26.8
28 .8
29.3
30.8
1963
1 964 ....
1965
1966
1 967 ....
29.7
31.6
36.6
42.8
41.9
42.2
43.4
43.0
42.2
42.2
44.3
44 .8
37.6
38.1
37.5
40 .2
31.1
33.1
39.6
42.2
40.8
41.6
43.6
43.2
41.9
42.3
45.5
44 .2
36.6
38.3
39.0
43.9
31.1
34.0
37.8
43.1
41.1
41.3
44 .8
42.8
41.8
42.4
46 .3
41.1
37.0
38.6
39.9
45.1
31.4
34.7
42.4
41.8
40.5
42.7
44.2
42.3
41.0
43.2
45.7
40.1
37.2
38.4
40.1
46.5
30.8
33.3
39.6
42.5
41.1
42.0
44.0
42.8
41.7
42.5
45.5
42.5
37.1
38.3
39.1
43.9
89. RESIDENTIAL FIXED INVESTMENT, TOTAL, IN 1972 DOLLARS
(ANNUAL RATE, BILLIONS OF DOLLARS)
1947
1948
1949.. .
1950
1951
1952
1953 ...
1954
1955
1956
1957 ...
1958 ...
1959
1961
1962
1963
1964
1965
1 966 ....
1967 ... .
1968
1969
1970
1971
1972
1973
1974
1975
1976
1977
1978
1979
Annual
1 Q
IVQ
87. NONRESIDENTIAL FIXLL1 INVESTMENT, STRUCTURES, IN 1972
DOLLARS
(ANNUAL RATE, BILLIONS OF DOLLARS)
1969
1970 ....
1971
1972
1973
1974
1975
1976
1977
1978
1979 ....
Year
III Q
IVQ
68. NONRESIDENTIAL FIXED INVESTMENT, PRODUCERS' DURABLE
EQUIPMENT, IN 1972 DOLLARS
(ANN. RATE, BIL. DDL.)
1947
1948
1949
1950
1951
1952
1953
1954
1955
1956
1957
1958
1959.
I960 . .
1961
1962
1964
1965
1966
1967
1968
1969
1970
1971
1972
1973 ....
1974
1975 ...
1976
1 977 ...
1978.
1979
AVERAGE
32.2
34.2
30.7
26.9
31.4
33.0
33.7
31.9
32.2
37.0
37.7
33.7
34.7
38 .0
34.3
39 .4
31.5
32.1
28.5
30.2
31.9
33.3
33.4
31.2
35.2
36.9
37.5
31.9
35.8
38.7
36.0
40.4
30.6
31.6
27 0
33.4
32.9
28.3
34.4
32.3
37.4
37.4
38.9
31.4
36.9
36 .8
36.3
40.3
32.0
32.8
26 .5
33.0
32.8
31.5
33.7
31.9
38.9
37.0
37.4
32.9
37.1
35.5
38 .4
40 .2
31.6
32.7
28 .2
30 .9
32 .3
31.5
33.8
31.8
35.9
37.1
37.9
40.8
46 .0
53.4
62 .0
61.8
64.7
70.5
68 .6
65.7
71.1
84 .2
89.2
80 .1
77.2
88 .8
93.0
41.6
46 .8
54.2
63.8
62.6
64.3
70.2
68 .5
65.2
72.2
85.1
89.6
76.3
79.3
89.3
96.4
43.4
48 .2
57.3
63.9
61.7
66 .6
70.4
68.0
65.6
74.1
86 .2
89 .5
75.0
82.1
90.9
96.5
45.0
49 .8
59.1
64.6
63.6
68 .6
70.0
63.8
68 .7
79.7
86.7
84 .0
74.6
84.1
91.5
98.9
42.7
47.7
56.0
63 .6
62.4
66.1
70.3
67.2
66.3
74.3
85.5
88.1
76.5
80.7
90.1
96.2
3e!i
37.2
36.3
40 .1
MI PA
AVERAGE
(ANNUAL RATE, BILLIONS OF DOLLARS)
AVERAGE
19.8
25.5
22.5
30.5
31.6
26.2
2b .3
27.5
35.5
32.5
30.4
28.7
37.9
J8 .2
33.8
37.1
18.7
27.0
22.2
33.4
27.3
26.6
28 .4
29.3
36.0
32.3
29.6
28.7
39 .2
34.8
34.0
38 .6
21.5
26 .2
24.1
35.2
25.5
26.4
27.4
31.1
35.2
31.6
29.3
30 .8
38.3
33.5
35.7
38.9
25.7
24.2
27.1
33.5
25.7
27.8
27.2
33.0
33.7
31.1
29.5
34.1
36.9
33.4
37.0
38.8
21.5
25.8
24.0
33 .2
27.5
26.8
27.8
30.2
35.1
31.9
29.7
30 .6
38.1
35.0
35.1
38.4
1947
1948
1949 ...
1950
1951
1952
1953
1954
1955 .
1956
1957
1958
40.2
46.4
43.4
42.7
32.7
41.9
45.2
40 .2
46 .4
60.9
64 .4
49.5
36.3
45.8
53.5
59.4
43.3
44.1
44.1
40.1
36.3
42.9
44 .7
38.3
51.3
61.6
62.0
46.8
37.0
46.5
57.9
60 .9
43.9
42.8
43.0
38.0
38.4
42.8
42.9
39.6
54.6
61.7
58.3
44 .0
39 .5
46.8
59.3
60 .2
45.6
41.9
42.3
33.3
41.4
43.6
40.1
43.4
56 .4
63.8
54.0
39.7
42.3
52.1
60.1
60.0
43.2
43 .8
43.2
38.5
37 .2
42.8
43.2
40.4
52.2
62.0
59.7
45.0
38 . 8
47.8
57.7
60.1
1963
1964
1965
1966
1967
1968
1969
197U
1971
1972 ...
1973
1974
1975
1976 ... .
1977
1978
1979
i960
1961
1962
14.8
13.6
0 .6
-4.7
18.3
0 .2
-4.5
-10.6
1.8
6 .6
4.6
-7.5
-2.9
7.7
-4.3
-5.6
13.6
10 .5
-3.1
7.8
8.4
-3.7
-6.2
-6.7
4.9
5.8
2.8
-11.9
1.6
4 .2
-5.1
-4.1
10.0
5.8
4 1
16.6
1.0
-7.5
-5.8
-5.1
4.8
5 .2
2.8
-12.1
-1.8
1.4
3 9
-3.2
15.2
3.3
4 i
17.3
-1.7
-3.7
-11.8
-1.9
6.5
6 .3
-1.3
-10 .0
-1.5
1.1
2 2
-4.1
13.4
8.3
-2.6
9 .2
6.5
-3.7
-7.1
-6.0
4 .4
6.1
2.3
-10.3
-1.1
3.0
-3.9
-4.2
-1.9
-3.0
4.6
0.6
-12.8
-9.7
11.2
-1.1
-18.5
-13.4
9 7
-5.5
1.9
-6.7
3.9
1.3
-13.2
-12.0
12.0
-12.8
23 8
-20 .0
-6.6
-7.6
99 9
-47.3
-40 .9
24 6
1.2
-2.4
-3.0
-3.2
-13.6
-2.3
6.7
-14.6
23 4
-10 .8
-5.2
-8.0
-0.2
-1.0
-3.4
-5.9
-13.0
0.7
4 .2
-20.1
22 2
-24 .9
-5.3
-21.7
0 .3
-3.3
0.5
-1.8
-13.2
-5.8
8. 5
-12.1
-22.0
-17.3
6 7
-10.7
-52.2
-53.6
57 4
-53.6
16 3
-53.6
-46.3
27 7
-57.5
-37.2
-49 .4
502
501. FEDERAL GOVERNMENT RECEIPTS, NIPA
(ANNUAL RATE, BILLIONS OF DOLLARS)
43.5
44 .6
40 .6
42.6
65.9
66 .3
71.8
62.9
69.7
76 .0
82.7
76.0
87.6
97.9
94.5
103.4
42.8
43.4
38 .6
46.8
62.9
66 .4
71.9
62.9
71.6
77.6
82.5
75.9
91.6
96.5
96.6
105.1
42.1
42.5
38.3
53.1
62.2
66 .9
70.8
63.5
73.6
77.6
82.6
79.5
89.8
95.7
98.9
107.5
44 .5
42.3
37 .4
57.7
66 .2
69.9
65.6
65.7
75.5
80.5
79.6
83.0
90.3
94.5
102.2
108.8
43.2
43.2
38.7
50.0
64.3
67.3
70.0
63.7
72.6
78.0
81.9
78.7
89 .8
96.1
98.1
106.2
1963
1964
1965
1 966 ...
1 967 ...
1968
1969
1970
1971
1972
1973
1974
1975
1976
1977
1978
1979
111.6
115.4
122.8
136.5
147.1
164.1
195.6
193.2
194.9
222.6
252.0
275.6
287.2
j 1 9. 0
J66 .8
397.8
114.1
112.1
124.4
141.3
147.6
169.1
199.2
194 .7
197.1
224.3
255.7
286 .1
254.3
328 .2
370.8
424 .8
115.3
115.3
123.1
143.7
151.5
180 .3
196.0
190.8
198.8
227.7
259.3
297.9
297.6
335.4
375.8
442.1
116.6
117.0
127.1
145.9
155.8
185.4
197.1
189.5
203.8
235.3
266.2
294.8
305.9
343.1
386 .2
463.5
114.4
114.9
124.3
141.8
150.5
174.7
] 97 .0
192.1
198.6
227.5
258.3
288 .6
286.2
331.4
375 .4
432.1
AVERAGE
(ANNUAL RATE, BILLIONS OF DOLLARS)
AVERAGE
1947
1948
1949
1950
1951
1952
1953
1954
1955
1956
1957
1 958 ....
1959
I960 . .
1961
1 962 ...
NOTE: These series contain revisions beginning with 1976.
II Q
1947
1948
1949
1950
1951
1952
1953
1954
1955
1956 .
1 9 5 7 ... .
1958
1959
I960
1961
1962
28.7
31.0
40.0
47.2
47.6
66.1
76.3
73.5
67.9
69.4
78.1
83.5
90.5
90.2
98 .7
109.0
29.2
33.0
41.7
39.0
54.5
70.1
78.2
69 .6
66 .7
71.8
79.8
87 .8
89.9
92.3
101.7
109.2
32.2
36.7
42.4
36.5
61.2
74 .4
76.6
68 .7
68 .9
72.4
79.8
91.6
91.5
94 .2
102.8
110.7
29 .3
39 .0
41 .4
40 .4
67.9
73.6
77.4
67 .6
69 .0
74.2
81 .0
93.0
91.9
95.7
104.4
112.8
29 .8
34.9
41.3
40 .8
57 .8
71.1
77 .1
69 .8
68 .1
71.9
79.6
88 .9
91.0
93.1
101.9
110.4
1^63.
113.5
118.3
118.2
135.8
159.9
173.8
184.3
194.3
213.5
235.9
261.7
281.1
3 35.2
3 7 6. 5
404 .0
447.3
112.2
i .18.8
120.4
140.0
160.9
181.0
187.2
207.5
220.9
244 .2
262.2
293.7
354.2
375.5
411.6
449 .4
114.1
117.6
126.1
146.9
165.1
182.6
189 .4
205.3
222.2
238 .6
264 .6
306.0
363.9
387.6
429 .4
462.6
116.8
118.0
130.5
151.8
168.9
184.8
192.9
209.6
225.9
260.2
271.5
316.5
374.1
400 .5
441.8
479.7
114. 2
lib. 2
I 2 J . •>
14 3. (S
163.7
180.6
188.4
204. 2
1 y 64
195",
1966
1967
1968
1969
1970
1971
1972
1973
1974
1975.....
197o
1977
1978
1979
244. 7
265.0
29 9. 3
356.8
385.0
421.7
459.8
G. Experimental Data and Analyses
(Nov.)
(Mar.)
TIT TIT TIT TIT TIT TIT TTT TIT TIT TIT TIT TTT TIT TIT TIT TIT T|T TM
Components of BCD series 26—
Unit labor cost, all persons, nonfarm business sector, Q
(index: 1967-100)
Implicit price deflator, gross nonfarm business product, Q
(index: 1967-100)
Inventory-sales ratios in 1972 dollars (ratio)—
Merchant wholesalers
ill 1 1 1 M i n i MI MI u r n i in m in MI MI in MI MI in in mm
1951
in in MI in in MI in i i i i n
1952 1953 1954 1955 1956 1957 1958 1959 1960 1961 1962 1963 1964 1965 1966 1967 1968 1969 1970 1971 1972 1973 1974 1975 1976 1977 1978 1979
NOTE:
Current data for these series are shown on page 105.
G. Experimental Data and Analyses—Continued
Implicit price deflator, gross nonfarm business product 1
Year
Jan.
Feb.
Mar.
Apr.
May
June
July
(Index: 1967=100)
Aug.
Sept.
Oct.
Nov.
1975
153.0
155.0
157.5
159.9
1976
161.9
163.6
165.7
168.1
1977
169.8
173.6
176.2
178.3
1978
180.2
184.7
187.8
191.4
1979
195.1
200.7
Index of unit labor cost, all persons, nonfarm business sector 1
Year
Jan.
Feb.
Mar.
Apr.
May
1975
161.6
1976
165.4
1977
175.4
1978
190.3
192.9
1979
206.2
213.2
June
July
Aug.
Jan.
Feb.
Mar.
Apr.
Sept.
Oct.
Nov.
164.6
167.8
170.5
173.9
179.0
181.0
184.8
195.7
199.5
Inventory-sales ratio, manufacturing, in 1972 dollars 2
Year
(Index: 1967=100)
160.5
160.7
May
June
July
Dec.
Dec.
(Ratio)
Aug.
Sept.
Oct.
Nov.
Dec.
1975
2.10
2.11
2.15
2.08
2.11
2.07
2.03
2.00
1.99
1.98
1.99
1 .96
1976
1.91
1.89
1.87
1.87
1.86
1.86
1.85
1.86
1.88
1.90
1.86
1 .82
1977
1,82
1.82
1.77
1.82
1.83
1.82
1.83
1.81
1.81
1.80
1.81
1 .78
1978
1.84
1.80
1.78
1.75
1.77
1.78
1.81
1.77
1.78
1.76
1.76
1 .75
1979
rl.76
rl.78
rl . 72
rl.86
rl.78
rl . 84
pi. 86
(NA)
Inventory-sales ratio, merchant wholesalers, in 1972 dollars 2
Year
Jan.
Feb.
Mar.
1975
1 .34
1.32
1.36
1.37
1976
1 .28
1 .28
1.27
1.28
1977
1 .29
1 .29
1.29
1978
1 .32
1.31
1.33
1.33
1.35
1.30
1.33
1979
May
Apr.
June
July
Aug.
Jan.
|
Feb.
Mar.
Nov.
Dec.
1 .34
1 .33
1 .34
1 .33
1 .32
1 .31
1 .29
1.30
1.30
1 ,32
1 .29
1.31
1.30
1 .28
1.29
1 .27
1 .27
1.25
1 .28
1 .30
1 .30
1 .29
1 .27
1.31
1 .28
1 .31
1.29
1,27
1 .30
1 .27
1 .29
1 .31
1 .30
rl.31
pi. 31
(NA)
Apr.
|
May
1 . 34
June
Aug.
1.44
1.39
1.41
1.39
1.34
1.34
1976
1,31
1.32
1.33
1.33
1.34
1 ,33
1977
1.32
1.30
1.31
1.32
1.32
1 .35
1978
1,40
1.38
1.38
1,37
1,39
1979
1,39
1,38
1.41
1.42
(Ratio)
Sept.
Oct.
1,35
1 .35
1.33
1.33
1,35
1.34
1.35
1 .36
1,39
1,40
1.39
1 .39
1 .38
1.45
pi. 47
(NA)
NOTE: Data for these series are plotted on page 104. The "r" indicates revised;
'Source: U.S. Department of Labor, Bureau of Labor Statistics.
2
Source: U.S. Department of Commerce, Bureau of Economic Analysis.
Oct.
1.30
1975
1 . 38
Sept.
1 .36
Inventory-sales ratio, retail trade, in 1972 dollars 2
Year
(Ratio)
Nov.
Dec.
1.34
1 .32
1.33
1.32
1 .30
1 .34
1.34
1.36
1 .38
1 .35
1.37
preliminary; "NA", not available.
G. Experimental Data and Analyses—Continued
Net Contributions of Individual Components to the Leading, Roughly Coincident, and Lagging Composite Indexes
Basic data
(and
Series title
unit of measure)
May
1979
LEADING INDICATORS
1. Average workweek, production workers,
manufacturing (hours)
. .
3. Layoff rate, manufacturing 1
(per 100 employees)
8. New orders for consumer goods and materials
in 1972 dollars (billion d o l l a r s )
32. Vendor performance, companies reporting
slower deliveries (percent)
12. Net business formation
(index- 1967=100)
. . . .
20. Contracts and orders for plant and equipment
in 1972 dollars (billion d o l l a r s )
29. New building permits, private housing
units (index: 1967=100)
36. Change in inventories on hand and on order in
1972 dol . , smoothed 2 (ann. rate, bil. dol . ) .
92. Change in sensitive prices, smoothed 2
(percent)
.
. .
19. Stock prices, 500 common stocks
(index: 1941-43=10)
104. Change in total liquid assets, smoothed 2
(percent)
106. Money supply (M2) in 1972 dollars
(bi 1 1 i on dol 1 ars )
910. Composite index of 12 leading indicators 3
( i n d e x - 1967=100) .
ROUGHLY COINCIDENT INDICATORS
41. Employees on nonagricul tural payrolls
(thousands)
51. Personal income less transfers in 1972
dollars (annual rate, billion d o l l a r s ) .
47. Industrial production, total
( i n d e x - 1967=100)
57. Manufacturing and trade s a l e s in 1972
dollars (million dollars)
920. Composite index of 4 roughly coincident
indicators 3 (index: 1967=100)
. . .
LAGGING INDICATORS
91. Average duration of unemployment 1
(weeks)
. . .
70. Manufacturing and trade inventories, total,
in 1972 dollars (billion dollars)
62. Labor cost per unit of output, manufacturing
( i n d e x - 1967=100)
109. Average prime rate charged by banks
(percent)
72. Commercial and industrial loans outstanding
(million dollars)
95. Ratio, consumer installment debt to
personal income (percent)
930. Composite index of 6 lagging indicators 3
(index- 1967=100)
July
1979
June
1979
40.2
Net contribution to index
40.1
May
to
June
1979
Aug.
1979
40.2
June
to
July
1979
July
to
Aug.
1979
p40 .0
-0.08
0.09
-0.20
1.0
1.3
1.1
pi. 6
-0.30
0.22
-0.60
37.50
36.80
r35.80
P35.63
-0.10
-0.16
-0.03
76
70
60
55
-0.21
-0.38
-0.1!
rlSO.O
elSO.l
NA
NA
0.01
NA
13.06
r!4.55
r!3.34
P13.16
0.25
-0.22
130.7
132.4
133.6
0.04
-0.22
r!7.21
r!5.66
pi 5. 4 8
-0.10
-0.01
rl.78
rl.97
99.73
101.73
102.71
107.36
0.12
rO.69
rO.68
rC.73
pO.84
-0.03
522.8
523.9
524 .4
p523.7
r!39.8
r!39.4
r!39.1
88,539
rS8,764
r88,813
rl, 0 2 4 . 1
rl,024.3
rl, 0 2 3 . 0
152.4
r!52.4
r!52.6
pi 50 .9
161,575
r!58,140
p!58,846
N .A
-0.47
0.10
r!45.0
145.0
pi 4 3 . 7
-0.48
0.0
-0.90
1.86
145.7
11.1
123.4
10.4
NA
0.01
G.Oo
0.33
0 ., i 6
0.44
0.09
G ,04
-0.07
p!39.1
-0 .,.9
-0,22
0.0
p88,815
•'.2C
0.04
0.00
..-,01
-0.06
-C.29
0.04
-0.40
el, 0 1 8 . 4
1U-3
0.40
0.24
-0.45
0.27
0.56
NA
0.14
0.20
11.91
-0.19
-0.21
1.08
p 1 51 , 61 8
0.35
0.52
0.54
0.14
-0.24
p259 .?.?
NA
173.3
r!74.1
rl?5.2
ul 7 0 . 5
11.75
11.65
11.54
;u9 , j. •• ,
1
r!5.07
r!5, '.]
p 1 5 « 04
r!62.5
r 164.0 !
L ., C :, . 5
NOTE: The net contribution of an individual component is that
is computed by dividing the standardized and weighted change for T
ponents and dividing that result by the index standardization fac :
107) for weights and standardization factors. NA, not available.
NA
10,0
r256.18
145,688
" •
C .09
1.98
254.71
143,386
-0.03
_ r,
NA
p!67.7
0.92
0.91
0.35
NA
1.33
' c share in the composite movement of the group. It
.. vr ?y; the sum of the weights for the available com',rch 1979 BUSINESS CONDITIONS DIGEST (pp. 106'.>ry. r, revised, e, estimated.
series is inverted in computing the composite index, i
oe in this series is considered an upward movement.
series is a weighted 4-term moving average (with wv ohcs , L , ,\t yidced at the terminal month of the span.
Figures in the net contribution columns are percent cha, 'e-. iri t^e index. The percent change is equal (except for rounding
differences) to the sum of the individual components' conti .bu + ions plus the trend adjustment factor. The trend adjustment
factor for the leading index is 0.099; for the coincident index, -0.164; for the lagging index, -0.170.
2
This
3
G. Experimental Data and Analyses—Continued
Cyclical Comparisons: Current and Selected Historical Patterns
"I |»">|">«.|.im|..m|..m|.iii.|.m.|.....|..i.i
12. Net business formation
IJJ
hOIITHS DEVIFROM ATIONS CURRENT MONTH
AND
FROM ACTUAL
REE.
DATA YEAR
TROUGH 11/73
12. Net business formation
UTI
0
SERIES 12
1967=100
39
40
15.6
16.0
132.9
133.4
6/78
7/78
41
42
43
44
15.7
15.7
17.8
16.2
133.0
133.0
135.5
133.6
8/78
9/78
10/76
11/78
45
46
47
48
16.1
14.2
15.0
14.9
133.5
131.3
132.3
132.1
12/78
1/79
2/79
3/79
49
50
51
13.3
13.0
13.1
130.3
130.0
130.1
4/79
5/79
6/79
Deviations
from
spec,
trough
Actual
data
current
cycle
+15
• 130
+12
• 135
+9
+6
• 120
+3
-3
• 110
-6
•IDS
-12
29. New building permits, private
housing units
un
40
SERIES 12
1967=100
30.3
132.9
41
42
43
44
30. b
30. 4
30.4
32.8
133.4
133.0
133.0
135.5
7/78
8/78
9/78
10/78
45
46
47
48
31.0
30.9
28.7
29.7
133.6
133.5
131.3
132.3
11/76
49
50
51
52
o
Percent
+100
MONTHS
I ROM
KLF.
TROUGH
+90
+80
+30
+25
MONTHS DEVII ROM ATIONS CURRENT MONTH
SPEC.
FROt
ACTUAL
AND
TROUGH
2/75
DATA YCAR
0
-g
+35
1220
+70
• 200
+ 60
+50
• 125
+20
• 120
6/76
+15
+10
M10
12/78
1/79
2/79
29.5
i 32.1
3/79
27 .7
130.3
4/79
27.5
130.0
5/79
27.5
130.1
6/79
DEVIATIONS CURRENT MONTH
FROM ACTUAL
AND
11/73
DATA YEAR
SERIES 29
1967=100
41
42
43
44
14.7
22.9
22.7
19.6
138.6
146.5
148.2
144.5
8/78
9/78
10/78
11/78
45
46
47
48
22.2
-3.0
-4.7
8.4
147 .6
117.2
115.1
130.9
12/78
1/79
2/79
3/79
49
50
51
52
1 .4
8.2
9.6
2.2
122.5
130.7
132.4
123.4
4/79
5/79
6/79
7/79
53
10 .6
133.6
8/79
+5
• 105
29. New building permits, private
housing units
UI
O
Percent
n+160 « 160
+ 140
+120
+.40
+30
+20
+10
0
-20
-30
-40
-50
-6
»60
+80
+60
41
42
43
44
SERIES 29
1967=100
8/78
138.6
126.8
9/7b
148.5
143.0
10/78
148.2
142,6
11/78
144.5
136.5
45
46
47
48
141.6
91.8
88.4
.114.2
147.6
117.2
115.1
130.9
12/78
1/79
2/79
3/79
+20
49
50
51
52
100.5
113.9
116.7
102.0
122.5
130.7
132.4
123.4
4/79
5/79
6/79
7/79
0
53
118.7
133.6
0 +6+12+18 + 24+30+36+42+48+54
Months from reference troughs
NOTh: For an explanation of these charts, see "How to Read Charts" on p. 106 of the June 1979 issue.
1120
MONTHS DEVIFROM ATIONS CURRENT MONTH
ANL
FROM ACTUAL
SPEC.
DATA YEAR
TP.OUGI
3/75
H20
-10
+100
• 100
+40
• 80
-6
0 + 6 +12+18+24+30+36+42+48+54
Months from specific troughs
.6
G. Experimental Data and Analyses—Continued
Cyclical Comparisons: Current and Selected Historical Patterns—Continued
'»l»»'l'»»l | | i i
6. Net change in inventories on
hand and on order, smoothed 1
MONTHS
FROM
CURRENT MONTH
ACTUAL
AND
DATA YEAR
RRF.
TROUGH
SCRIES
361
A N N . RATE
36. Net change in inventories on
hand and on order, smoothed 1
rUD
B
DID. DOL.
17.55
7/78
14.52
8/78
14.27
9/76
1 4 . 7 7 10/7b
15.77
11/78
40
41
42
43
44
45
46
47
48
16.81
12/78
20.30
20.84
1/79
2/79
3/79
20.02
4/79
17.21
15.66
15.48
5/79
6/79
7/79
22.13
+60
>+20
+50
+10
49
50
51
52
+40
MONTHS DEVIFROM ATIONS CURRENT MONTE!
SPEC.
FROM ACTUAL
AND
TROUGH
3/75
DAI A YEAR
+30
36 1
A mi. RATE
L 1L. LUL.
17.55
7/78
14.52
8/78
14.27
9/78
14.77 10/78
15.77 11/78
SERIES
40
41
42
43
44
56.06
53.03
52.78
53.28
54.28
45
55.32
46
47
48
58.81
• -10
+20
16.81 12/78
20. 3C
1/79
22.13
2/79
20.84
3/79
60.64
59.35
58.53
20.02
4/79
55.72
17.21
5/79
51 54.17
15. 60
6/79
52
53.99
15.46
7/79
MONTHS DEVIFRGM AT IONS CURRENT MONTH
REI .
FROM ACTUAL
ANC
TROUGH 11/73
DATA YEAR
>-20
+10
• -30
49
50
57. Manufacturing and trade sales,
1972 dollars
57. Manufacturing and trade sales,
1972 dollars
Actual
SELILS
57
MIL. DOL.
40
160,000
• 155,000
• 150,000
• 145,000
9.1 155372
+32
• 165,000
7/^n
41
42
43
44
11.3
10.7
12.3
12.8
158476
157585
159846
160556
8/-L
9/7t
10/7b
11/78
+28
45
46
47
48
13.2
12.5
11.8
15.3
161105
16U181
159086
164058
12/78
1/79
2/79
3/~7C
+24
49
50
51
52
10.4
13.5
11.1
11.6
157136
161575
158140
158846
4/79
5/79
6/79
7/79
+20
H60,000
1155,000
• 150,000
MONTHS DEVIFRCN ATIONS CURRENT flOf-TH
AND
SPEC.
FROM ACTUAL
DATA YEAR
TROUGH
3/75
140,000
+16
• 145,000
SERIES
57
ML. DOL.
+12
M40,000
40
23.4 155372
7/78
41
42
43
44
25.9
25.2
27.0
27.5
158476
157585
159846
160556
8/78
9/78
10/78
11/78
45
46
47
48
28.0
27.2
26.4
30.3
161105
160181
159086
164058
12/78
1/79
2/79
3/79
49
50
51
52
24.8
28.3
25.6
26.2
157136
161575
158140
158846
4/79
5/79
6/79
7/79
• 135,000
• 130,000
—'
-6
-12
• 125,000
0 +6+12+18+24 + 3 0 + 3 6 + 4 2 + 4 8 + 5 4
Months from reference troughs
NOTE: For an explanation of these charts, see "How to Read Charts" on p. 106 of the June 1979 issue.
T h i s is a weighted 4-term moving average (with weights 1,2,2,1) placed on the terminal month of the span.
J
+8
H35,000
+4
M30,000
• 125,000
-6
0 +6
+12 +18 +24+30 +36+42 + 48 +54
Months from specific troughs
G. Experimental Data and Analyses—Continued
Cyclical Comparisons: Current and Selected Historical Patterns—Continued
n
T
I
I
I
I
I
I
I
64. Compensation of employees as
percent of national income
C.RTRG.
I
CURRENT U-TR.
AND
ACTUAL
YRAR
DATA
b ROM
RLR.
TROUGH
Deviations
from
spec,
trough
64. Compensation of employees as
percent of national income
m
76.7
76
Actual
data
for
current
cycle
Actual
1/78
13
75.0
11/78
14
75.4
HI/71,
15
75.0
IV/78
10
75.5
1/79
75.9
11/79
• 78
74
+2
LEVIw I.IKS.
R R O f i A T I O R S C U R R L R T C.LTT,.
t'Kon
ACTUAL
AI:L>
SPLC.
DATA
YLAR
TROUGH HI/75
+1
SLRILG
64
PLRCLKT
70
10
1.2
76.7
1/78
11
0.1
75.6
1 1/78
12
-0.1
75.4 III/7-
13
-0.5
75.0
14
0.0
75.5
1/79
15
0.4
75.9
11/79
• 75
68
84. Rate of capacity utilization,
materials (FRB)
IV/78
95
L,C,U i
L.RTRS.
RRCfi
CURRENT yRTi .
ACTUAL
Ah'L
RATA YLAR
rxr.
T R C U C 11
90
84. Rate of capacity utilization,
materials (FRB)
MMfl
SRRILS
84
PLRCLliT
Actual
-,
I/7L
85
13
85.0
11/76
14
86.4
HI/78
15
88.2
IV/78
10
88.0
1/79
87.2
11/79
+20
+15
• 85
+10
• 80
80
QRTRS. LLVIRRGn ATIGfjS CURFRt.'T GRTR.
SRLC.
tRGM
ANL
ACTUAL
TRGUGR
11/75
RAT A YLAR
SR 1LS
84
t-LRCLNT
6
0
11
12 2
82 .6
1/78
12
14 6
85 .0
11/78
13
16 0
86 .4 HI/78
14
17 8
88 .2
IV/78
15
17 6
88 .0
1/79
10
16 8
67 .2
11/79
+6+12+18+24+30+36+42+48+54
Months from reference troughs
NOTE: For an explanation of these charts, see "How to Read Charts" on p. 106 of the June 1979 issue.
-5
-6
0 +6 + 1 2 + 1 8 + 2 4 + 3 0 + 3 6 + 4 2 + 4 8 + 5 4
Months from specjfic troughs
• 90
ALPHABETICAL INDEX-SERIES FINDING GUIDE
Series titles
(See complete titles in "Titles and Soorces of
Series," following this index)
Curret t issue
(page n mbers)
Series
number
Charts
Tables
Historical
Series
data
descriptions
(issue date) (issue date)
A
Accession rate, manufacturing
Agricultural products, exports
Anticipations and intentions
Business expenditures, new plant and equipment
Business expenditures, new plant and equipment, Dl
Consumer sentiment, index
Employees, manufacturing and trade, Dl
Inventories, manufacturing and trade, Dl
New orders, manufacturing, Dl
Prices, selling, manufacturing, Dl
Prices, selling, retail trade, Dl
Prices, selling, wholesale trade, Dl
Profits, net, manufacturing and trade, Dl
Sales, net, manufacturing and trade, Dl
Automobiles
Expenditures, personal consumption
Imports of automobiles and parts
2
604
16
56
61
92
61
970
58
974
975
971
976
978
977
972
973
24
38
22
38
38
38
38
38
38
38
38
67
76
65
76
76
76
76
76
76
76
76
55
616
22
56
65
92
4/79
8/68
12/78
2/79
2/79
8/78
2/79
11/68
11/68*
11/68*
11/68*
2/79
11/68*
11/68*
11/68*
11/68*
11/68*
11/68*
11/68*
9/79
10/69*
2/79
2/79
2/79
2/79
2/79
2/79
12/78
g
Balance of payments-See International transactions.
Bank loans to businesses, loans outstanding
Bank loans to businesses, net change
Bank rates-See Interest rates.
Free reserves
Member bank borrowing from Federal Reserve
Bonds-See Interest rates.
Borrowing-See Credit.
Budget-See Government.
Building-See Construction.
Building permits, new private housing
Business equipment, industrial production
Business expenditures, new plant and equipment
Business expenditures, new plant and equipment, Dl . . . .
Business failures, current liabilities
Business formation
Business incorporations
Business inventories-See Inventories.
Business loans-See Bank loans.
Business saving
72
112
15,35
32
73
72
6/79
6/79
11/72
11/72
93
94
33
33
72
72
12/78
11/72
29
76
61
970
14
12
13
13,25
24
24
38
33
12,23
23
67
67
67
76
72
65
65
295
46
82
83
82
84
20
20
20
64
64
64
97
11
965
24
24
37
66
66
75
914
35
34
11
29
29
60
70
70
6/79
2/78
2/79
2/79
2/79
5/79
7/78
11/78
9/79
9/79
9/79
8/79
8/79
2/79
Debt outstanding
Net change
Ratio to personal income
Consumer installment loans, delinquency rate
4/69
Consumer prices-See also International comparisons.
All items, index
il/68
All items, percent changes
11/68*
Food, index
,
Food, percent changes
Consumer sentiment, index
Consumption expenditores-See Personal consumption
expenditures.
Contracts and orders, plant and equipment, constant dol. .
Contracts and orders, plant and equipment, current dol. . .
C o r p o r a t e bond yields
Corporate profits-See Profits.
Costs-See Labor costs and Price indexes.
Credit
Bank loans to businesses, net change
Borrowing, total private
Commercial and industrial loans outstanding
Consumer installment debt
Debt outstanding
Net change
Ratio to personal income
Consumer installment loans, delinquency rate
Mortgage debt, net change
,
.
Crude materials-See Wholesale prices.
Charts
Tables
920
920c
940
10
39
11
60
930
930c
10
39
914
915
913
917
916
910
11
n
n
n
n
Historical
Series
data
descriptions
(issue date) (issue date)
3/79
7/79
3/79
11/75*
60
3/79
7/79
11/75*
60
60
60
60
60
60
3/79
3/79
3/79
3/79
9/79
3/79
7/79
6/79
8/79
9/78
4/69
10/69*
60'"
5/75*
9!0c
10
39
29
9
69
23
24
67
66
67
248
87
86
249
89
28
47
25
83
67
25
47
25
25
67
83
67
67
11/78
9/79
9/79
11/78
9/79
5/79
8
75
12,21
22
64
65
9/79
2/78
66
113
95
39
35
32
73
72
73
72
5/79
6/79
8/79
2/79
10/72
10/72
15,35
33
320
320c
322
322c
58
49
49,59
84,95
84,95
49
49
22
84
84
65
5/79
5/79
5/79
5/79
8/78
5/69*
5/69*
5/69*
5/69*
11/68*
20
10
116
12,23
23
66
66
34
9/68
73
9/78
6/78
1/79
112
110
72
32
32
72
72
73
6/79
2/79
6/79
7/64
66
113
95
39
33
35
32
33
32
73
72
73
72
71
5/79
6/79
8/79
2/79
8/79
525
564
548
517
53
55
53
53
90
91
90
90
8/78
9/78
8/78
8/78
39
32
33
72
64
2/79
8/79
11/72
12/74
970
965
951
974
963
967
38
37
36
38
36
37
2/79
2/79
6/79
2/79
6/79
11/68*
4/78
4/69*
966
37
962
975
952
950
964
36'"
38
36
36
37
971
968
976
978
977
960
972
973
961
38
37
38
38
38
37
38
38
36
76
75
74
76
74
75
79
75
78
74
76
74
74
75
77
76
75
76
76
76
75
76
76
74
77
13,25
15,35
15,35
9/68*
10/69*
6/72"
11/72
7/64
11/72
11/72
10/72
10/72
ii/72
3/79
9/79
1/72'
9/79
1/72
442
90
441
37
51
18
51
89
62
89
4/79
18,51
62,89
4/79
4/72*
4/72*
920
920c
951
940
9
72
112
10
39
36
11
23
60
3/79
11/75*
74'"
32
60
66
73
72
6/79
3/79
345
49
87
15,35
Composite indexes
Coincident indicators
Four comciders
Four comciders, rate of change
Ratio to lagging indicator index
Lagging indicators
Six laggers
Six laggers, rate of change
Leading indicators
Capital investment commitments
Inventory investment and purchasing
Marginal employment adjustments
Money and financial flows
Profitability
Twelve leaders
Twelve leaders, rate of change
Construction
Building permits, new private housing
Contracts awarded, commercial and indostrial bldgs. . .
Expeoditures, plus machinery and equipment sales . . . .
Gross private domestic f i x e d investment
Nonresidential, as percent of GNP
Nonresidential structures, constant dollars
Nonresidential, total, constant dollars
Residential as percent of GNP
Residential, t o t a l , constant dollars
Housing starts
Consumer finished goods-See Wholesale prices.
Consumer goods and materials, new orders
Consumer goods, industrial production
Currer t issue
(page n umbers)
Series
number
8/79
c
Canada-See International comparisons.
Capacity utilization
Manufacturing (BEA)
Manufacturing (FRB)
Materials
Capital appropriations, manufacturing
Backlog
,
Newly approved
Newly approved Dl
Capital investment-See Investment, capital.
Capital investment commitments, Cl
Cash flow, corporate, constant dollars
Cash flow, corporate, current dollars
Civilian labor force-See also Employment.
Employment
Employment as percent of population
Total
Unemployed
Coincident indicators, four
Composite index
Composite index, rate of change
Diffusion index
Ratio to lagging indicators, composite index
Commercial and industrial buildings, contracts awarded . .
Commercial and industrial loans outstanding
Commercial and industrial loans outstanding, net change .
Compensation
Compensation, average hourly, all employees,
nonfarm business sector
Compensation, average hourly, all employees,
nonfarm business sector, percent changes
Compensation of employees
Compensation of employees, percent of national
income
Compensation, real average hourly, all employees,
nonfarm business sector
Compensation, real average hourly, all employees,
nonfarm business sector, percent changes
Earnings, average hourly, production workers,
private nonfarm economy
Earnings, average hourly, production workers,
private nonfarm economy, percent changes
Earnings, real average hourly, production
workers, private nonfarm economy
Earnings, real average hourly, production
workers, private nonfarm economy, percent changes .
Wage and benefit decisions, first year
Wage and benefit decisions, life of contract
Wages and salaries, mining, manufacturing, and
construction
Series titles
(See complete titles in "Titles and Sources of
Series," following this index)
4/72*
3/79
3/79
7/79
8/79
6/79
ii/72
11/72
6/76*
10/72*
6/79
345c
280
50
45
87
82
6/76*
11/78
10/72*
10/69
64
30,47
70,83
9/79
10/69*
346
49
88
6/76*
346c
50
88
6/76*
10/72*
340
49
87
8/79
6/72*
340c
50
87
8/79
6/72*
341
49
87
8/79
6/72*
341c
87
88
88
8/79
348
349
50
50
50
8/78
6/72*
6/72*
6/72*
53
19
63
8/79
8/78
10/72*
D
Debt-See Credit.
Defense
Military prime contract awards
National defense purchases
New orders, defense products
Obligations incurred
,
Deficit-See Government.
Deflators-See Price indexes.
Delinquency rate, consumer installment loans
Deliveries, vendor performance
Diffusion indexes
Business expenditures, new plant and equipment
Capital appropriations, manufacturing
Coincident indicators
Employees, manufacturing and trade
Employees on private nonagricultural payrolls
Industrial materials prices
,
Industrial materials puces, components
Industrial production
Industrial production, components
Initial claims, State unemployment insurance
Inventories, manufacturing and trade
Lagging indicators
Leading indicators
New orders, durable goods industries
,
New orders, durable goods industries, components . . . .
New orders, manufacturing
Prices, 500 common stocks
Prices, selling, manufacturing
Prices, selling, retail trade
Prices, selling, wholesale trade
Profits, m a n u f a c t u r i n g
,
P r o f i t s , net, manufacturing and trade . ,
Sales, net, manufacturing and trade
Workweek, mfg. production workers
Workweek, mfg. production workers, components
Disposable personal income-See Income.
12,21
10/69*
ii/68*
9/79
6/78
2/79
6/79
6/79
7/78
6/69*
11/68*
2/79'
9/79
2/79
2/79
2/79
11/68*
5/69*
11/68*
11/68*
11/68*
2/79*
11/68*
11/68*
2/79
12/78
ALPHABETICAL INDEX-SERIES FINDING GUIDE-Continued
Series titles
(See complete titles in "Titles and Sources of
Series," following this index)
Current issue
(page numbers)
Series
lumber
Charts
Tables
Historical
Series
data
descriptions
(issue date issue date)
E
Earnings -See Compensation
Employment ind ununuloymuit
A c c e s s i o n ntf mnuhcturmq
Gi ilnn hbor fore totil
Pmplo\et hours in non irjricultur il
f st ibhshmmts
Fmployee hours in non igncultur il
cstiblishmnits nu of ch HKJP
E mployets in mining n fg md c o n s t r u c t i o n
E m p l o y e e s nnnof u turmg ind tnde Dl
E m p t i e s on non igncultur il pi\ olis
F uplny f s en p r w i t t nnmg piyroll Dl
r
n pk / m m Uin to pup ihtion
f m|il 1/1 u n t t t ] | i id i
Hf Ip w i n n d ulvfrtismi] m nu paptrs
H i l p w m t n l idvinisi iq i UK to memploymt nt
Initnl c i urns St )t( unemployment msunn (
Imti i 1 i him it it; u n t m p l o \ m f nt msurmct Dl
Liy i f f f iti iiutnif K turmg
Vhniiiil i m p l u y m i n t id|ustm( nt CI
Ov runt hours mfg produc tion wnrkt rs
P i r t i i p i t i o n ntt [mtli f \ f s 16 1 9 y i a i old
1 irt i| itiiin r i t i f i n il( 2 0 y e i r s ind nvt r
p
n it i,i itn n i
n i l f s 20 yi irs ind cwt r
Pf ison i no '
i in ]Mi i itur ! let v i t u
' i nt n
n in
ng
Hi ( i i,
!
t s I f 1 ( ) F i r s Hd
M i ] 1 \t '
il
'Oy
iO nu r
U u ,1 v
'
'
J< i
UK ip
i
/( M
i ut
Hmmpl in
n 1 r ;t
nd yer
Uiif mplovn n U ' sund
1 1 q vut1
U n e m o l n \ m c n t i m tot il
Dm mpluymtnt tot 1 ( ivili in
W o r t - w u k rnfg produc tion \M i l r
M i r l < w i i k mil] p r o d u c t i o n w o i h f
i pum nt
W m k w u t mfg i r o d u c t i n n worh
01
f [i irt
Si i F o t ign t idc
2
441
16
51
61
89
48
17
61
48c
40
974
41
963
90
442
46
60
5
962
3
913
21
453
452
451
448
42
4
446
445
447
444
91
44
45
43
37
1
39
17
38
14,17
36
18
51
17
17
16
36
12,16
11
16
51
51
51
51
17
16
51
51
51
51
15,18
18
18
18
18,51
12,16
961
36
4/79
3/79
7/79
7/79
62 "
76
62
74
62
89
61
61
61
74
61
60
61
89
89
89
89
62
61
89
89
89
89
62
62
62
62
12/78
2/79
12/78
5/79
3/79
4/79
7/79
Gross business product
Fixed weighted price index
Fixed weighted price index, percent changes
Gross domestic product, labor cost per unit
Gross
national product
8/68
GNP, constant dollars
4/72*
GNP constant dollars differences
G NP, constant dollars, percent changes
8/68*
GNP, current dollars
.
8/68*
GNP, current dollars, differences
GNP, current dollars, percent changes
11/68*
GNP r a t i o to money supply
8/68
Goods output in constant d o l l a r s
Implicit price deflator
Implicit price deflator, percent changes
4/72*
Per capita GNP constant dollars
12/74
Gross private domestic invest. -See Investment, capital.
7/79
6/78
4/79
6/69'
6/69*
8/68*
3/79
12/78
12/74
4/79
4/79
4/79
4/79
4/79
4/72
4/79
4/79
4/79
4/79
3/79
7/79
4/72"
6/69
4/79
4/72
62,89
4/79
4/72*
61
77
74
12/78
8/68
12/78
119
34
72
1/79
33
40
11
72
80
60
8/79
311
84
84
9/78
311c
48
48
667
622
618
602
604
256
252
668
606
620
612
616
257
253
669
614
255
250
251
57
57
57
56
56
44
44
57
56
57
56
56
44
44
57
56
44
44
47
93
93
93
92
92
82
82
93
92
93
92
92
82
82
93
92
82
82
83
33
72
11/73
10/78
3/79
9/78
48
48
30
84
84
70
9/79
7/68
19,40
217
10/78
10/78
10/78
10/78
10/78
10/78
8/79
9/79
9/78
9/78
10/78
10/69*
10/69*
10/69*
31
20
48
48
40
63,80
80
80
80
80
80
71
63
84
84
80
46
60
17
17
61
61
7/79
3/79
12/74
21
1
16
12,16
12/78
12/78
12/74
8/68
961
36'"
61
61
77
74
28
29
89
249
25
13,25
25
47
67
67
67
83
5/79
6/79
9/79
11/78
6/72
4/69
310
310c
48
48
84
84
9/78
9/78
10/69*
10/69*
345
49
87
6/76*
10/72*
345c
280
64
50
45
30,47
87
82
70,83
6/76*
10/72*
11/78
9/79
10/69
346
49
88
6/76*
10/72*
346c
95
286
287
225
224
227
50
15,35
45
47
40
40
40
88
73
82
83
80
80
80
6/76*
10/72*
340
49
87
8/79
6/72*
340c
50
87
8/79
6/72*
341
49
87
8/79
6/72*
341c
652
651
288
289
220
52
223
51
51c
108
282
50
57
57
45
47
45
19
40
14,19
39
31
45
87
93
93
82
83
82
63
63
63
8/79
8/79
8/79
11/78
11/78
10/78
8/79
9/78
7/79
7/79
8/79
11/78
6/72*
5/69*
5/69*
283
284
285
348
349
53
13
23
47
45
47
50
50
19
23
28
11/78
11/78
11/78
8/78
8/78
8/79
7/78
1/78
10/69*
967
S/'"
83
82
83
88
88
63
65
69
79
75
4/78
4/69*
67
65
63
63
63,94
78
75
2/78
2/78
2/78
2/78
7/79
11/68
61
74
62
7/79
6/78
7/79
311
311c
68
50
50b
50c
200
200b
200c
107
49
310
310c
39""
40
9/78
9/78
10/69
10/69
10/69
10/69*
10/69*
10/69
H
Help-wanted advertising in newspapers
Help-wanted advertising, ratio to unemployment
Hours of production workers, manufacturing
Average weekly overtime
Average workweek
Average w o r k w e e k , components
Average workweek, Dl
Housing
Housing s t a r t s
Housing units authorised by local bldg. permits
Residential GPDI, constant d o l l a r s
Residential GPDI, percent of GNP
12/78
10/69*
Implicit price deflator, GNP
Implicit price deflator, GNP, percent changes
Imports-See Foreign trade and International transactions.
Income
Compensation, average hourly', all employees,
nonfaim business sectoi
Compensation, average hourly, all employees,
nonfarm business sector, percent chanqes
Compensation of employees
Compensation of employees, pet. of nat'l. income . . . .
Cnmpensitiun, real average hourly, all employees,
nontarm business sector
Compensation, real avoiage hourl\ , all employees,
nonfarm business s e c t o r , percent changes
Consumer installment debt, r a t i o to personal income ..
C o r p o r a t e p r o f i t s with 1 VA and CCA
Corp. profits with IVA aild CCA, pet. of nat'l. income .
Disposable personal income, constant dollars
Disposable personal income, current dollars
Disposable personal income, per capita, constant dol. .
;M ,ite ri )of IIT econom\
8/79
8/79
11/78
11/78
10/78
10/78
10/78
10/69*
10/69
10/69*
10/69
10/69
10/69
8/79
8/79
12/78
12/78
11/78
11/78
8/79
5/69*
5/69*
5/69
5/69*
12/78
8/79
12/78
IP/78
11/78
11/78
8/79
12/78
11/78
11/78
11/78
12/78
G
Goods output in constant dollars
Government budget, NIPA
Federal expenditures
Federal receipts
Federal surplus or deficit
State and local expenditures
State and local receipts
State and local surplus or d e f i c i t
Surplus or d e f i c i t , t o t a l
Government purchases of goods and services
Federal, constant dollars
Federal, current dollars
Federal, percent of GNP
National defense
State and local, constant dollars
Stale and local, current dollars
State and local, percent of GNP
T o t a l , constant dollars
Total, current dollars
Tables
1
3/79
94
213
917
93
Charts
Historical
lescriptions
data
ssue date) issue date)
4/79
F
Fixed weighted price index, percent changes, NIPA
Fond See Consumer prices.
Fmeign trade See also International transactions.
Balance on goods and services
Balance on merchandise trade
[ x p n r t s , merchandise, adjusted, e x c . military
F x p o r t s , merchandise, t o t a l exc. military aid
F x p o r t s of a g r i c u l t u r a l products
F x p o r t s of goods and services, constant dol., NIPA . . . .
F x p o r t s of goods and services, current dol., NIPA
F x p o r t s of goods and services, e x c . military
F x p o r t s of nonelectrical machinery
Imports, merchandise, adjusted, exc. military
Imports, meicbandise, total
Imports ni automobiles and parts
Imports of goods and services, constant dol., NIPA . . . .
Imports of goods and services, current dol., NIPA
Imports of goods and services, total
Imports of petroleum and products
Net e x p o r t s , goods and services, constant dol., NIPA
Net e x p o r t s , goods and services, current dol., NIPA . . .
Net e x p o r t s , goods and services, percent of GNP, NIPA
France -See International comparisons.
Free reserves
Current issue
(page ncmbers)
Series
3/79
id 1 mm tioinl tr nsirJi n
Federal funds rale
Federal Government -See Government.
Federal Reserve, member bank borrowing from
Final sales in constant dollars
Financial flows, and money, CI
Fixed mvestment--Se,e Investment, capital.
Series titles
(See complete titles in "Titles and Sources ul
Series," following this index)
49
20
63
9/79
502
501
500
512
511
510
298
52
52
52
52
52
52
46
90
90
90
90
90
90
83
9/79
263
262
265
564
267
266
268
261
260
43
43
47
55
43
43
47
43
43
81
81
83
91
81
81
83
81
81
11/78
11/78
11/78
9/79
9/79
10/78
10/78
10/78
11/78
9/78
11/78
11/78
11/78
11/78
11/78
ndex, GPDI, gro
5/69*
5/69*
5/69'
5/69*
f arn i i c , nvtl ,i\ci iqe mnn^, ,u id^ction
Farnmcj', teal a v e r iqe Muuri v , p r o d or t i o n
w o r f ers, private m m t a r m ei onornv, percent changes .
Income on f o r e i g n mvi'sime it in the U.S
Income on U S investments abrn.td
Interest net
Interest, net, percent if national income
National income
Personal income, constant doMai,
Personal income, current dollais
Personal income, less tiansfers, constant dollars
Personal income, rat.o to rnon. v supply
Pnippptots' 'nciimc with IVA and CCA
10/69*
Pmpnetors' income with IVA and CCA, percent
of national income
Rental income of persons with CCA
11/72
Rental income of persons with CCA, pet. of nat'l. income
Wage and benefit decisions, f i r s t year
Wage and benefit decisions, life of contract
Wages and salaries, mining, mtg , and construction . . . .
Incorporations, new businesses
7/68*
Industrial materials prices
7/68*
Industrial materials prices, components
7/68*
Industrial materials prices, Dl
Industrial production - Soe also International comparisons
Business equipment
Consumer goods
Duiable manul.icturps
10/69
Nondurable manufactures
11/73
Total
10/69
Total, Dl
10/69*
Tot.il, rate of change
10/69*
11/73
Installment debt See Credit
Insured unemployment
10/69
Avg weekly initial claims, unemploy. insurance
10/69*
Avg. weekly initial claims, unemploy. insurance, Dl
Avg. weel- ly insured unemployment rate
10/69
5/69
76
75
73
74
47
24
22
20
20
14,20,58
966
47c
37'"
5
962
45
16
36
18
71 "'
82
39
10/69
10/69*
10/69
7/68*
10/69
10/69
10/69*
6/72*
6/72*
4/69'
9/79
7/79
6/69
6/69*
6/69
ALPHABETICAL INDEX-SERIES FINDING GUIDE-Continued
Series titles
(See complete titles in "Titles and Sources of
Series," following this index)
Interest, net
Interest, net, percent of national income
Interest rates
Bank rates on short-term business loans
Corporate bond yields
Federal funds rate
Mortgage yields, secondary market
Municipal bond yields
Prime rate charged by banks
Treasury bill rate
Treasury bond yields
Intermediate materials-See Wholesale prices.
International comparisons
Consumer prices
Canada index
Canada, percent changes
France, index
France percent changes
Italy index
Italy, percent changes
Japan index
Japan, percent changes
United Kingdom, index
United Kingdom percent changes .
United States index
United States, percent changes
West Germany, index
West Germany, percent changes
Industrial production
Canada
France
Italy
Japan
OECD European countries
United Kingdom
United States
West Germany
Stock prices
Canada
France
Italy
Japan
United Kingdom
United States
West Germany
International transactions-See also Foreign trade.
Balance on goods and services
Balance on merchandise trade
Exports, merchandise, adjusted, exc. military
Exports, merchandise, total exc. military aid
Exports of agricultural products
Exports of goods and services, exc. military
Exports of nonelectrical machinery
Imports merchandise adjusted exc military
Imports merchandise total
Imports of automobiles and parts
Imports of goods and services, total
Imports of petroleum and products
Income on foreign investments in U S
Income on U.S. investments abroad
Inventories
Business inventories, change, constant dollars
Business inventories, change, current dollars
Business inventories, change, percent of GNP
Finished goods, manufacturers'
Inventories on hand and on order net change
Inventories to sales ratio, mfg. and trade (deflated) . . . .
Inventory investment and purchasing, Cl
Manufacturing and trade, constant dollars
Manufacturing and trade, current dollars
Manufacturing and trade, current dollars, change
Manufacturing and trade Dl
Materials and supplies on hand and on order, mfg
Materials and supplies on hand and on order mfg
change
Investment capital
Capital appropriations, manufacturing, backlog
Capital appropriations, manufacturing, new
Capital appropriations, manufacturing, new, Dl
Capital investment commitments, Cl
Construction contracts commercial and industrial
Construction expenditures, business and machinery
and equipment sales
Gross private domestic investment
Fixed investment, constant dollars
Fixed investment current dollars
Inventories, business, change in-See Inventories.
Nonresidential, total constant dollars
Nonresidential, total, percent of GNP
Producers' durable equip., nonresid., constant dol. . .
Residential total constant dollars
Residential total percent of GNP
Structures nonresidential constant dollars
Total, constant dollars
Total, current dollars
New orders capital goods nondefense constant
dollars
New orders, capital goods, nondefense, current
dollars
http://fraser.stlouisfed.org/
110
Federal Reserve Bank of St. Louis
Curren t issue
(page n mbers)
Series
number
Charts
Tables
Historical
Series
data
descriptions
issue date) issue date)
288
289
45
47
82
83
11/78
11/78
10/69
10/69*
67
116
119
118
1 17
109
114
115
55
73
8/79
12/74
34
34
34
34
35
34
73
72
73
73
73
72
34
1/79
7/64
1/79
11/73
1/79
7/64
1/79
7/64
1/79
11/73
1/79
7/64
73
1/79
7/64
96
1/79
9/72*
96
95
95
1/79
96
1/79
96
95
95
95
1/79
Series titles
(See complete titles in "Titles and Sources of
Series," following this index)
Plant and equipment
Business expenditures, new
Business expenditures, new, Dl
Contracts and orders constant dollars
Contracts and orders, current dollars
Investment foreign
Income on foreign investments in U.S
Income on U S investments abroad
Italy-See International comparisons.
Currer t issue
(page n umbers)
Series
Charts
Tables
Historical
Series
descriptions
data
(issue date) issue date)
61
970
20
10
24
38
12 23
23
67
2/7Q
76
66
2/79
9/78
66
6/78
9/68'
652
651
57
57
93
93
8/79
5/69*
R/7Q
c
68
62
63
26
30
15,30
30
29
70
70
930
930c
952
3
10
39
36
12,16
60
910
950
14
104
10
39
36
33
13 31
913
78
11/68
11/68*
/en*
J
Japan-See International comparisons.
733
733c
736
736c
737
737c
738
738c
732
732c
32Q
320c
735
735c
59
59""
59
59
7/79
7/79
1/79
1/79
1/79
5/79
49,59
84,95
84,95
59'"
95
95
1/79
1/79
723
726
727
728
721
722
47
725
58
94
?/79
58
58
94
94
2/79
58
58
58
94
94
94
14,20,58
63,94
7/79
58
94
2/79
743
746
747
748
742
19
745
59
96
6/79
59
59
59
59
59
59
96
96
96
96
96
96
6/79
667
622
618
602
604
668
606
620
612
616
669
614
652
651
57
57
57
56
56
57
56
93
93
93
92
92
93
92
57
56
93
92
56
57
56
92
93
92
57
57
93
93
9/72*
9/72*
1/79
95
59
49
9/72*
5/79
2/79
2/79
9/72*
5/69*
5/69*
9/72*
10/72*
10/72*
10/72*
10/72*
L
Labor cost per unit of gross domestic product
Labor cost per unit of output manufacturing
Labor cost per unit of output private business sector
Labor cost, price per unit of, nonfarm business
Labor f o r c e — See Employment and unemployment
Lagging indicators, six
Composite index
Composite index rate of change
Diffusion index
Layoff rate, manufacturing
Leading indicators, twelve
Composite index
Composite index, rate of change
Diffusion index
Liabilities of business failures
Liquid assets change in total
Loans-See Credit.
910c
70
70
9/79
7/68
9/78
1 1/68
10/72
1/77
9/79
3/79
11/75*
7/79
74
6/79
61
4/79
8/68*
3/79
5/75*
60
74*"
7/79
6/79
72
71
2/79
60
68
3/79
27
38
26
68
6/78
8
84
12,21
20
64
64
9/79
917
11
60
104
105
85
106
102
107
108
33
118
117
13,31
31
31
13 31
71
71
71
71
3/79
2/79
2/79
10/72*
11/68
10/72*
6/79
6/79
6/79
6/79
6/79
8/79
8/79
8/79
12/78
12/78
8/79
5/69*
5/69*
5/69*
12/78
8/79
12/78
l?/78
8/79
5/69*
5/69*
5/69*
12/78
8/79
8/79
5/69*
5/69*
M
Man-hours-See Employment and unemployment.
Marginal employment adjustments Cl
Materials and supplies on hand and on order mfg
Materials and supplies on hand and on order, mfg.
change
Materials, crude and intermediate-See Wholesale prices.
Materials, industrial-See Price indexes.
Materials, new orders for consumer goods and
Materials rate of capacity utilization
Merchandise trade-See Foreign trade.
Military-See Defense.
Money and financial flows Cl
Money supply
Liquid assets, change in total
Money supply M 1
Money supply Ml, percent changes
Money supply M2
Money supply M2 percent changes
Ratio GNP to money supply M1
Ratio personal income to money supply M2
Mortgage debt, net change
Mortage yields secondary market
Municipal bond yields
n
6/78
9/79
3/79
3/79
3/7°
3/79
10/72
3/79
31
31
71
71
31
32
34
71
71
73
8/79
1/79
7/64
34
73
1/79
7/64
27
24
8
20
10
548
7
6
23
23
12,21
12,23
23
53
21
21
964
971
37
38
66
66
64
66
66
90
64
64
77
75
76
2/79
88
87
86
248
25
25
25
67
67
67
9/79
47
83
11/78
517
721
53
90
8/78
58
94
2/79
49
62
358
370
370c
83
82
84
21
20
15,30
63
3/79
10/72
8/79
8/79
N
30
245
247
65
36
77
915
70
71
31
975
78
26,42
38
42
47
27
13 26
27
11
15,27
27
26
38
68,81
81
83
68
68
68
60
68
68
68
76
27
68
2/79
6/78
26
68
6/78
97
11
965
914
g
24
24
37
11
23
66
66
75
60
66
8/79
69
24
67
9/78
243
242
42
42
81
81
11/78
10/78
86
248
88
89
249
87
241
240
25
47
25
25
47
25
67
83
67
67
9/79
National defense-See Defense.
National Government-See Government.
National income-See Income.
New orders manufacturers'
Capital goods industries, nondefense, constant dol
Capital goods industries, nondefense, current dol
Consumer goods and materials, constant dollars
Contracts and orders, plant and equip., constant dol. . .
2/69
Contracts and orders, plant and equip., current dol. . . .
2/69
Defense products
1 1/68*
Durable goods industries, constant dollars
Durable goods industries current dollars
Components
Diffusion index
New orders, manufacturing, Dl
Nonresidential fixed investment, GPDI
Producers' durable equipment, constant dollars
Structures, constant dollars
„
Total constant dollars
Total, percent of GNP
9/68*
0
11/78
11/78
10/69
10/69*
6/78
9/68
5/79
6/79
3/79
10/78
5/79
5/79
8/79
2/79
3/79
8/79
9/79
11/78
10/69*
9/79
9/79
83
67
9/79
42
42
81
81
10/78
10/78
27
23
66
6/78
24
23
66
6/78
11/78
10/69*
10/69
9/68
Obligations incurred, Defense Department
OECD, European countries, industrial production
Orders-See New orders and Unfilled orders.
Output-See also Gross national product and
Industrial production.
Goods output constant dollars
Labor cost per unit of
.
. . . . . .
Per hour nonfarm business sector
Per hour, private business sector
Per hour, private business sector, percent changes
Ratio to capacity manufacturing (BEA)
Ratio to capacity, manufacturing (FRB)
Ratio to capacity, materials
Overtime hours, production workers, manufacturing . . . .
50
70
88
50
50
20
20
20
16
88
88
64
64
64
61
6/78
6/78
9/68
9/79
9/78
6/78
9/68
8/78
9/79
9/79
7/78*
9/68
11/68*
9/79
9/79
10/69*
9/79
9/78
6/76*
6/76*
6/76*
11/68
6/68*
10/72*
10/72*
9/79
9/79
9/79
12/78
12/74
ALPHABETICAL INDEX-SERIES FINDING GUIDE-Continued
Series t i t l e s
(Sen complete t i t l e s in "Titles and Sources of
Series," following this index)
Curren t issue
(page n mbers)
Series
number
Charts
Tables
Series
Historical
data
ascriptions
(issue date) issue date)
P
Participation rates, civilian labor f o r c e
Both sexes, 1 6-1 9 years of age
Females 20 years and over
Males 20 years and over
Personal consumption e x p e n d i t u r e s
Automobiles
Durable goods, c o n s t a n t dollars
Durable goods, c u r r e n t dollars
Nondurable goods, constant dollars
Nondurable goods, current dollars
Services, constant dollars
Services, current dollars
Total, constant dollars
Total, current dollars
Total, percent of GNP
Personal income-See income.
Personal saving
Personal savior] r a t e
Petroleum and products, imports
Plant and equipment-See also Investment, c a p i t a l .
Business expenditures lor
Business expenditues f o r , Dl
C o n t r a c t s and orders f o r , constant dollars
Contracts and orders f o r , current dollars
Population, civilian employment as percent of
Price indexes
Consumer prices See also International comparisons.
All items, percent changes
Food, index
'.
Food, percent changes
Deflators, N I P A . . . .
Fixed weighted, gross business product, index
F i x e d weighted, gross business p r o d u c t , pet. changes
Implicit price deflator, GNP, index
Implicit price d e f l a t o r , GNP, percent changes
I n d u s t r i a l materials
Industrial materials, components
Industrial materials, Dl
Labor cost, price per unit of
Sensitive prices, change in
Stock prices- -See also I n t e r n a t i o n a l comparisons.
500 common s t o c k s
500 common s t o c k s , Dl
Wholesale prices
All commodities, index
All commodities, percent change
Consumer finished goods, index
Consumer f i n i s h e d goods, percent changes
Crude materials, percent changes
I n t e r m e d i a t e m a t e r i a l s , index
I n i e r m e d i a t e materials, percent changes
Producer f i n i s h e d goods, index
Product;! finished goods, percent changes
Price to unit labor c o s t , nonfarm business
Prices, selling
Manufacturing, Dl
R e t a i l trade, Dl
Wholesale trade, Dl
Prune c o n t r a c t s , military
Prime rate charged by banks
Producer finished goods-See Wholesale p r i c e s .
Producers' durable equipment, nonresid., GPDI
Production-See Industrial p r o d u c t i o n and GNP.
Productivity
O u t p u t per hour, nonfarm business" sector
O u t p u t per dour, private business sector
Output per dour, private business sector, pet. changes .
P r o f i t a b i l i t y , Cl
Profits
C o r p o r a t e , after taxes, constant dollars
Corporate, alter taxes, current dollars
C o r p o r a t e , a f t e r t a x e s , w i t h IVA and CCA,
c o n s t a n t dollar
C o r p o r a t e , a f t e r taxes, w i t h IVA and CCA, cur. dol. . . .
C o r p o r a t e , with IVA and CCA
C o r p o r a t e , with IVA and CCA, p e t . of nat'l. income . . .
M a n u f a c t u r i n g and Trade, Dl
Manufacturing, Dl
,
Per dollar of sales, manufacturing
P r o f i t a b i l i t y , Cl
.'
Ratio, p r o f i t s to corporate domestic income
Ratio, p r o f i t s with IVA and CCA to corporate domestic
income
Proprietors' income with IVA and CCA .
Proprietors' income with IVA and CCA, pet. of nat'l. inc. .
Reserves, f r e e
Residential f i x e d investment, constant d o l l a r s , G P D I . . . .
Residential f i x e d investment, percent of GNP
Residential structures-See Housing.
Retail sales, constant dollars
Retail sales, current d o l l a r s
453
452
451
51
51
51
89
89
89
4/79
4/79
4/79
55
233
232
238
236
239
237
231
230
235
22
41
41
41
41
41
41
41
41
47
65
80
80
81
81
81
81
80
80
83
9/79
10/78
10/78
10/78
10/78
10/78
10/78
10/78
10/78
10/78
10/69*
292
293
614
46
46
56
82
83
92
11/78
11/78
12/78
10/69
61
970
20
10
90
24
38
12,23
23
18
67
76
66
66
62
2/79
2/79
9/78
6/78
3/79
320
320c
49
49,59
49
49
84,95
84,95
84
84
5/79
5/79
5/79
5/79
23
48
48
48
48
28
9/78
9/78
9/78
9/78
1/78
967
26
92
37'"
29
13,28
84
84
84
84
69
79
75
70
69
19
968
13,28
37
69
75
9/79
9/79
330
48
48
48
48
48
48
48
48
48
48
29
85
85
86
86
85
85
86
86
86
86
70
4/79
4/79
5/79
5/79
4/79
4/79
4/79
4/79
5/79
5/79
9/79
6/69*
38
38
38
53
35
76
76
76
90
73
2/79
2/79
2/79
8/78
1/79
11/68*
11/68*
11/68*
322
322c
311
311c
310
310c
330c
334
334c
331
331c
332
332c
333
333c
26
976
978
977
525
109
88
25
67
4/78'
9/79
4/79
10/69
10/69
10/69
10/69
10/69*
7/68*
11/68
11/63*
9/68'
5/69*
5/69*
5/69*
10/69*
10/69*
li/73
18
16
28
28
69
69
9/79
9/79
1/72
80
79
286
287
972
960
15
916
22
28
28
45
47
38
37
29
11
29
69
69
82
83
76
75
70
60
69
9/79
9/79
11/78
11/78
2/79
10/69*
11/68*
1/78
3/69"
7/68
4
16
61
7/68
9/79
10/69
10/69*
4/79
R
Rental income of persons, with CCA
Rental income of persons, with CCA, percent of national
income
72
67
83
59
54
22
22
65
65
213
40
80
10/78
69
57
56
973
77
59
54
24
14,22
22
38
27
22
22
67
65
65
76
68
65
65
9/78
295
298
290
292
293
46
46
46
46
46
82
83
82
82
83
92
1 3 28
19
968
78
13,28
37
27
69
75
68
6/78
38
26
68
6/78
114
115
34
34
72
73
1/79
1/79
91
62
61
61
74
61
3/79
962
3
15,18
17
16
36
12,16
446
445
447
444
37
4
51
51
51
51
18,51
16
89
89
89
89
62,89
4/79
61
4/79
44
45
43
18
18
18
62
62
62
96
25
21
21
64
64
6/78
9/68
6/78
9/68
107
108
32
31
31
12,21
71
71
64
8/79
8/79
12/74
330
85
85
86
86
85
85
86
86
86
86
69
61
4/79
6/69*
92
1
48
48
48
48
48
48
48
48
48
48
13,28
12,16
961
36'"
77
74
11/72
9/79
11/78
10/69*
5/79
6/79
6/72
9/68*
5/79
5/79
2/79
2/69
11/68*
6/79
5/79
6/79
6/72'
11//8
11/78
11/78
11/78
11/78
10/69
10/69
10/69
7/68*
"tA 1/ 71Qy
9/79
5/69
9/79
5/69*
7/64
7/64
u
Initial claims, avg. weekly, unernplny. insurance, Dl . . .
Layoff rate, manufacturing
Number unemployed, c i v i l i a n labor f o r c e
Both sexes, 16-19 years of age
Females, 20 years and over
Full-time workers
Males, 20 years and over
Total unemployed
Q u i t rate, m a n u f a c t u r i n g
Unemployment r a t e s
15 weeks and ovei
Insured, average weekly
Total
Unfilled orders, manufacturers'
Durable goods i n d u s t r i e s
D u r a b l e goods i n d u s t r i e s , change in
United Kingdom -See I n t e r n a t i o n a l comparisons.
60
5
3/79
7/79
6/69
6/78
6/69*
8/68*
4/79
4/79
4/79
4/79
4/79
4/72*
3/79
4/72
7/79
6/69
4/79
4/72
Velocity of money
GNP to money supply Ml, ratio
Personal income to money supply M2, r a t i o
Vendor performance
8/79
10/69
Q
Quit rate, manufacturing
33
25
47
V
9/79
11/78
11/78
12/78
93
89
249
T
Unemployment
D u r a t i o n of unemployment, average
Help-wanted a d v e r t i s i n g to unemployment, ratio
916
70
82
83
Tables
5/69
5/69*
6/68*
10/72*
10/72*
29
45
47
State and local government-See Government.
S t o c k prices-See also I n t e r n a t i o n a l comparisons.
500 common s t o c k s
500 common s t o c k s , Dl
Stocks of materials and supplies on hand and on order . . .
S t o c k s of m a t e r i a l s and supplies on hand and on order,
change
S u r p l u s - See G o v e r n m e n t .
Treasury Lull r a t e
Treasury bond y i e l d s
6/76*
6/76*
6/76*
9/79
81
282
283
Salaries-Set; Compensation.
Sales
Final sales, constant d o l l a r s
Machinery and equipment sales and business
construction expenditures
Manufacturing and trade sales, constant dollars
M a n u f a c t u r i n g and trade sales, current d o l l a r s
M a n u f a c t u r i n g and trade sales, Dl
R a t i o , i n v e n t o r i e s to sales, mtg. and trade
R e t a i l sales, constant d o N a r s
R e t a i l sales, c u r r e n t d o l l a r s
Saving
Business saving
Government surplus or d e f i c i t
G r o s s saving, private and government
Personal saving
Personal saving r a t e
Selling prices-See Prices, selling.
4/69*
9/79
9/79
Charts
Series
Historical
data
(issue date) (issue date)
4/69
88
88
88
60
370c
Cur re t issue
( p a g e i mbers)
Series
S
10/69
50
50
50
11
358
370
Scries t i t l e s
(Set; c o m p l e t e t i t l e s in "Titles and Sources of
Series, " f o l l o w i n g this index)
284
45
82
11/78
10/69
285
47
83
11/78
10/69*
W
Wages and salaries-See Compensation.
West Germany --See International comparisons.
Wholesale prices
All commodities, index
All commodities, percent changes
Consumer finished goods, index
Consumer finished goods, percent changes
Crude materials, index
Crude materials, percent changes
Intermediate materials, index
Intermediate materials, percent changes
Producer f i n i s h e d goods, index
Producer finished goods, percent changes
Sensitive prices, change in
Workweek o f p r o d u c t i o n w o r k e r s , manufacturing
Workweek of p r o d u c t i o n w o r k e r s , manufacturing,
components
Workweek of p r o d u c t i o n w o r k e r s , manufacturing, Dl . . . .
330c
334
334c
331
331c
332
332c
333
333c
4/79
5/79
5/79
4/79
4/79
4/79
4/79
5/79
5/79
4/79
12/78
8/68"
12/7?
113
TITLES AND SOURCES OF SERIES
Series are listed below according to the sections of this report
in which they appear. Series numbers are for identification
only and do not reflect relationships or order among the
series. "M" following a series title indicates monthly data;
"Q" indicates quarterly data. Data apply to the whole period
except when indicated by "EOM" (end of month) or "EOQ"
(end of quarter).
To save space, the commonly used sources listed below are
referred to by number:
Source 1—U.S. Department of Commerce, Bureau of
Economic Analysis; Source 2—U.S. Department of Commerce,
Bureau of the Census; Source 3—U.S. Department of Labor,
Bureau of Labor Statistics; Source 4—Board of Governors of
the Federal Reserve System.
Economic Research, Inc. (Used by permission. This
series may not be r e p r o d u c e d without written
permission from the source.)
(23,66)
10. Contracts and orders for plant and equipment in current
dollars (M).-Source 2 and McGraw-Hill Information
Systems Company; seasonal adjustment by Bureau of
the Census and Bureau of Economic Analysis (23,66)
11. Newly approved capital
manufacturing corporations
Board
appropriations,
1,000
(Q).—The Conference
(24,66)
33. Net change in mortgage debt held by financial
institutions and life insurance companies (M).—
American Council of Life Insurance; Federal National
Mortgage Association; U.S. Department of Housing and
Urban Development, Government National Mortgage
Association; National Association of Mutual Savings
Banks; U.S. Savings and Loan League; and source 4;
s e a s o n a l a d j u s t m e n t by B u r e a u of E c o n o m i c
Analysis
(32,71)
34. Net cash flow, corporate, in current dollars (Q).—
Source 1
(29,70)
12. Index of net business formation (M).—Source 1;
seasonal adjustment by Bureau of Economic Analysis
and National Bureau of Economic Research,
Inc.
(12,23,65)
35. Net cash flow, corporate, in 1972 dollars (Q).-Source
1
(29,70)
Following the source for each series is an indication of the
pages on which that series appears. The "Series Finding
Guide" also lists chart and table page numbers for each
series.
13. Number of new business incorporations (M).—Dun &
Bradstreet, Inc.; seasonal adjustment by Bureau of
Economic Analysis and National Bureau of Economic
Research, Inc.
(23,65)
37. Number of persons unemployed, labor force survey
(M)-Sources 2 and 3
(18,51,62,89)
I-A. Composite Indexes
14. Current liabilities of business failures (M).—Dun &
Bradstreet, Inc.
(33,72)
910. Composite index of twelve leading indicators (includes
series 1, 3, 8, 12, 19, 20, 29, 32, 36, 92, 104, 106)
(M).-Source 1
(10,39,60)
913. Composite index of marginal employment adjustments
(includes series 1, 2, 3, 5) (M).-Source 1 (11,60)
15. Profits (after taxes) per dollar of sales, all
manufacturing corporations (Q).—Federal Trade Commission and Securities and Exchange Commission;
s e a s o n a l a d j u s t m e n t by B u r e a u of E c o n o m i c
Analysis
(29,70)
914. Composite index of capital investment commitments
(includes series 12, 20, 29) (M).-Source 1 (11,60)
16. Corporate profits after taxes in current dollars (Q).—
Source 1
(28,69)
915. Composite index of inventory investment and
purchasing (includes series 8, 32, 36, 92) (M).-Source
1
(11,60)
18. Corporate profits after taxes in 1972 dollars (Q).—
Source 1
(28,69)
36. Net change in inventories on hand and on order in 1972
dollars (smoothed) (M).-Sources 1, 2, and 3(13,26,68)
38. Change in stocks of materials and supplies on hand and
on order, manufacturing (M).—Source 2
(26,68)
39. Percent of consumer installment loans delinquent 30
days and over (EOM). — A m e r i c a n B a n k e r s
Association
(33,72)
40. Number of employees in nonagricultural goodsproducing industries—mining, manufacturing, and
construction (M).-Source 3
(17,62)
41. Number of employees on nonagricultural payrolls,
establishment survey (M).-Source 3
(14,17,62)
42. Number of persons engaged in nonagricultural activities,
labor force survey (M).-Sources 2 and 3
(17,62)
43. Unemployment rate, total (M).-Sources 2 and 3(18,62)
19. Index of stock prices, 500 common stocks (M).—
Standard & Poor's Corporation
(13,28,59,69,96)
44. Unemployment rate, 15 weeks and over (M).—Sources 2
and 3
(18,62)
917. Composite index of money and financial flows (includes
series 104, 106, 110) (M).-Source 1
(11,60)
20. Contracts and orders for plant and equipment in 1972
dollars (M).-Sources 1, 2, 3, and McGraw-Hill
Information Systems Company
(12,23,64)
45. Average weekly insured unemployment rate, Mate piugrams (M).—U.S. Department of Labor, Employment
Training Administration
(18,62)
920. Composite index of four roughly coincident indicators
(includes series 41, 47, 51, 57) (M).—Source
1
(10,39,60)
21. Average weekly overtime hours of production workers,
manufacturing (M).—Source 3
(16,61)
46. Index of help-wanted advertising in newspapers (M).—
The Conference Board
(17,61)
930. Composite index of six lagging indicators (includes
series 62, 70, 72, 91, 95, 109) (M).-Source
1
(10,39,60)
22. Ratio of profits (after taxes) to total corporate domestic
income (Q).-Source 1
(29,69)
916. Composite index of profitability (includes series 19, 26,
80) (M).-Source 1
(11,60)
940. Ratio, coincident composite index (series 920) to lagging composite index (series 930) (M).-Source
1
(11,60)
1-B. Cyclical Indicators
1. A v e r a g e w o r k w e e k of p r o d u c t i o n w o r k e r s ,
manufacturing (M).-Source 3
(12,16,61,77)
2. Accession rate, manufacturing (M).—Source 3 (16,61)
3. Layoff rate, manufacturing (M).-Source 3 (12,16,61)
4. Quit rate, manufacturing (M).—Source 3
(16,61)
5. Average weekly initial claims for unemployment
insurance, State programs (M).—U.S. Department of
Labor, Employment Training Administration; seasonal
adjustment by Bureau of Economic Analysis (16,61)
6. Value of manufacturers' new orders, durable goods
industries, in current dollars (M).-Source 2(21,64,77)
7. Value of manufacturers' new orders, durable goods
industries, in 1972 dollars (M).-Sources 1, 2, and
3
(21,64)
8. Value of manufacturers' new orders for consumer goods
and materials in 1972 dollars (M).—Sources 1, 2, and
3
(12,21,64)
9. Construction contracts awarded for commercial and
industrial buildings, floor space (M).—McGraw-Hill
Information Systems Company; seasonal adjustment by
Bureau of Economic Analysis and National Bureau of
http://fraser.stlouisfed.org/
Federal Reserve
11A Bank of St. Louis
23. Index
3
of
industrial
materials
prices
(M).—Source
((28,69,79)
24. Value of manufacturers' new orders, capital goods
industries, nondefense, in current dollars (M).—Source
2
25. Change in manufacturers' unfilled orders, durable goods
industries (M).-Source 2
(21,64)
47. Index of industrial production, total (M).—Source
4
(14,20,39,58,63,78,94)
48. Employee-hours
(M).-Source 3
in
nonagricultural
establishments
(17,39,61)
49. Value of goods output in 1972 dollars (Q).-Source
1
(20,63)
50. Gross national product in 1972 dollars (Q).—Source
1
(19,39,40,63,80)
51. Personal income, less transfer payments, in 1972 dollars (M).-Source 1
(14,19,39,63)
26. Ratio, implicit price deflator to unit labor cost, nonfarm
business sector (Q).-Sources 1 and 3
(29,70)
52. Personal income, total, in 1972 dollars (M).—Source
27. Value of manufacturers' new orders, capital goods
industries, nondefense, in 1972 dollars (M).-Sources
1, 2, and 3
(23,66)
53. Wage and salary income in mining, manufacturing, and
construction in 1972 dollars (M).—Sources 1 and
3
(19,63)
28. New private housing units started, total (M).—Source
2
(25,67)
54. Sales of retail stores in current dollars (M).—Source
2
(22,65)
29. Index of new private housing units authorized by local
building permits (M).-Source 2
(13,25,67)
55. Personal consumption expenditures, automobiles (Q).—
Source 1
(22,65)
30. Gross private domestic investment, change in business
inventories, all industries, in 1972 dollars (Q).—Source
1
(26,42,68,81)
56. Manufacturing and trade sales in current dollars (M).—
Sources 1 and 2
(22,65)
31. Change in book value of manufacturing and trade
inventories, total (M).-Sources 1 and 2
(26,68)
32. Vendor performance, percent of companies reporting
slower deliveries (M). — P u r c h a s i n g M a n a g e m e n t
Association of Chicago
(12,21,64)
1
(19,63)
57. Manufacturing and trade sales in 1972 dollars (M).—
Sources 1, 2, and 3
(14,22,65)
58. Index of consumer sentiment (Q,M).—University of
Michigan, Survey Research Center
(22,65)
59. Sales of retail stores in 1972 dollars (M).-Sources 1
2, and 3
(22,65)
TITLES AND SOURCES OF SERIES- Continued
60. Ratio, help-wanted advertising in newspapers (series
46) to number of persons unemployed (series 37)
( M ) . - S o u r c e s 1, 2, 3, and The C o n f e r e n c e
Board
(17,61)
84. Rate of capacity utilization, materials (Q).—Source
4
(20,64)
85. Change in money supply Ml (demand deposits plus
currency) (M).-Source 4
(31,71)
1-C. Diffusion Indexes
61. Business expenditures for new plant and equipment,
total (Q).-Source 1
(24,67)
86. Gross private domestic fixed investment, total
nonresidential, in 1972 dollars (Q).-Source 1(25,67)
950. Diffusion index of twelve leading indicator components
(M).-Source 1
(36,74)
62. Index of labor cost per unit of output, total
manufacturing—ratio, index of compensation of
employees in manufacturing (sum of wages, salaries,
and supplements to wages and salaries) to index of
industrial production, manufacturing (M).—Sources 1
and 4
(15,30,70)
87. Gross private domestic fixed investment, nonresidential
structures, in 1972 dollars (Q).-Source 1
(25,67)
951. Diffusion index of four roughly coincident indicator
components (M).—Source 1
(36,74)
88. Gross private domestic fixed investment, nonresidential
producers' durable equipment, in 1972 dollars (Q).—
Source 1
(25,67)
952. Diffusion index of six lagging indicator components
(M).-Source 1
(36,74)
63. Index of unit labor cost, private business sector (Q).—
Source 3
(30,70)
89. Gross private domestic fixed investment, total
residential, in 1972 dollars (Q).-Source 1
(25,67)
64. Compensation of employees as a percent of national
income (Q).-Source 1
(30,47,70,83)
90. Ratio, civilian employment to total population of
working age (M).-Sources 1, 2, and 3
(18,62)
65. Manufacturers' inventories of finished goods, book
value, all manufacturing industries (EOM).—Source
2
(27,68)
91. Average (mean) duration of unemployment in weeks
(M)-Sources 2 and 3
(15,18,62)
66. Consumer installment debt (EOM).-Source 4; FRB
seasonally adjusted net change added to seasonally
adjusted figure for previous month to obtain current
figure
(35,73)
92. Change in sensitive prices (WPI of crude materials excluding foods, feeds, and fibers) (smoothed) (M).—
Sources 1 and 3
(13,28,69)
93. Free reserves (member banks excess reserves minus
borrowings) (M).-Source 4
(33,72)
67. Bank rates on short-term business loans (Q,M).—Source
4
(35,73)
94. Member bank borrowings from the Federal Reserve
(M).-Source 4
(33,72)
68. Labor cost (current dollars) per unit of gross domestic
product (1972 dollars), nonfinancial corporations—ratio
of current-dollar compensation of employees to real
gross corporate product (Q).—Source 1
(30,70)
95. Ratio, consumer installment debt to personal income
(EOM).-Sources 1 and 4
(15,35,73)
69. Manufacturers' machinery and equipment sales and
business construction expenditures (industrial and commercial construction put in place) (M).—Source
2
(24,67)
70. Manufacturing and trade inventories in 1972 dollars
(EOM).-Sources 1, 2, and 3
(15,27,68)
71. Manufacturing and trade inventories, total book value,
in current dollars (EOM).-Sources 1 and 2 (27,68)
72. Commercial and industrial loans outstanding, weekly
reporting large commercial banks (M).—Source 4;
s e a s o n a l a d j u s t m e n t by B u r e a u of E c o n o m i c
Analysis
(15,35,73)
73. Index of industrial production, durable manufactures
(M).-Source 4
(20,63)
74. Index of industrial production,
manufactures (M).-Source 4
nondurable
(20,63)
75. Index of industrial production, consumer goods (M).—
Source 4
(22,65)
76. Index of industrial production,
(M).-Source 4
business equipment
(24,67)
77. Ratio, constant-dollar inventories (series 70) to sales
(series 57), manufacturing and trade, total (EOM).—
Sources 1, 2, and 3
(27,68)
78. Stocks of materials and supplies on hand and on order,
manufacturing (EOM).-Source 2
(27,68)
79. Corporate profits after taxes with inventory valuation
and capital consumption adjustments in current dollars
(Q)-Source 1
(28,69)
80. Corporate profits after taxes with inventory valuation
and capital consumption adjustments in 1972 dollars
(Q).-Source 1
(28,69)
81. Ratio of profits (after taxes) with inventory valuation
and capital consumption adjustments to total corporate
domestic income (Q).-Source 1
(29,70)
82. Rate of capacity utilization, manufacturing (Q).—Source
4
(20,64)
83. Rate of capacity utilization, manufacturing (EOQ).—
Source 1
(20,64)
96. Manufacturers' unfilled orders, durable goods industries
(EOM).-Source 2
(21,64)
97. Backlog of capital appropriations,
(EOQ).-The Conference Board
manufacturing
(24,66)
102. Change in money supply M2 (demand deposits and
currency plus time deposits at commercial banks other
than large CD's) (M).-Source 4
(31,71)
104. Change in total liquid assets (smoothed) (M).—Sources
1 and 4
(13,31,71)
105. Money supply Ml (demand deposits plus currency) in
1972 dollars (M)-Sources 1, 3, and 4
(31,71)
106. Money supply M2 (demand deposits and currency plus
time deposits at commercial banks other than large
CD's) in 1972 dollars (M).-Sources 1, 3, 4 (13,31,71)
107. Ratio gross national product to money supply Ml (Q).—
Sources 1 and 4
(31,71)
108. Ratio, personal income to money supply M2 (M).—
Sources 1 and 4
(31,71)
109. Average prime rate charged by banks (M).—Source
4
(35,73)
110. Total funds raised by private nonfinancial borrowers in
credit markets (Q).-Source 4
(32,72)
112. Net change in bank loans to business (M).—Source 4;
s e a s o n a l a d j u s t m e n t by B u r e a u of E c o n o m i c
Analysis
(32,72)
113. Net change in consumer installment debt (M).—Source
4
(32,72)
114. Discount rate on new issues of 91-day Treasury bills
(M).-Source 4
(34,72)
115. Yield on long-term Treasury
Department of the Treasury
bonds
(M).—U.S.
(34,73)
116. Yield on new issues of high-grade corporate bonds
( M ) . - C i t i b a n k and U.S. D e p a r t m e n t of the
Treasury
(34,73)
117. Yield on municipal bonds, 20-bond average (M).—The
Bond Buyer
(34,73)
118. Secondary market yields on FHA mortgages (M).—U.S.
Department of Housing and Urban Development, Federal
Housing Administration
(34,73)
119. Federal funds rate (M).-Source 4
(34,72)
960. Diffusion index of net profits, manufacturing—about
700 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 workweek of production
workers, manufacturing—20 industries (M).—Sources 1
and 3
(36,74,77)
962. Diffusion index of initial claims for unemployment
insurance, State programs—51 areas (M).—Source 1
and U.S. Department of Labor, Employment Training
Administration; seasonal adjustment by Bureau of
Economic Analysis
(36,74)
963. Diffusion index of number of employees on private
nonagricultural payrolls—172 industries (M).—Source
3
(36,74)
964. Diffusion index of value of manufacturers' new orders,
durable goods industries—35 industries (M).—Sources
1 and 2
(37,75,77)
965. Diffusion index of newly approved capital appropriations, deflated—17 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 industrial materials prices—13
industrial materials (M).—Sources 1 and 3 (37,75,79)
968. Diffusion index of stock prices, 500 common stocks—
58-82 industries (M).-Standard & Poor's Corporation
(37,75)
970. Diffusion index of business expenditures for new plant
and equipment, total—18 industries (Q).—Source
1
(38,76)
971. Diffusion index of new orders, manufacturing—about
700 businessmen reporting (Q).—Dun & Bradstreet, Inc.
(Used by permission. This series may not be reproduced
without written permission from the source.) (38,76)
972. Diffusion index of net profits, manufacturing and
trade—about 1400 businessmen reporting (Q).—Dun &
Bradstreet, Inc. (Used by permission. This series may
not be reproduced without written permission from the
source.)
(38,76)
973.
Diffusion index of net sales, manufacturing and tradeabout 1400 businessmen reporting (Q).—Dun &
Bradstreet, Inc. (Used by permission. This series may
not be reproduced without written permission from the
source.)
(38,76)
974. Diffusion index of number of employees, manufacturing
and trade—about 1400 businessmen reporting (Q).—
Dun & Bradstreet, Inc. (Used by permission. This series
may not be reproduced without written permission from
the source.)
(38,76)
975. Diffusion index of level of inventories, manufacturing
and trade—about 1400 businessmen reporting (Q).—
Dun & Bradstreet, Inc. (Used by permission. This series
may not be reproduced without written permission from
the source.)
(38,76)
976. Diffusion index of selling prices, manufacturing—about
700 businessmen reporting (Q).—Dun & Bradstreet, Inc.
(Used by permission. This series may not be reproduced
without written permission from the source.) (38,76)
TITLES AND SOURCES OF SERIES- Continued
977.
Diffusion index of selling prices, wholesale trade—about
450 businessmen reporting (Q).—Dun & Bradstreet, Inc.
(Used by permission. This series may not be reproduced
without written permission from the source.) (38,76)
978. Diffusion index of selling prices, retail trade—about 250
businessmen reporting (Q).—Dun & Bradstreet, Inc.
(Used by permission. This series may not be reproduced
without written permission from the source.) (38,76)
247.
Gross private domestic investment, change in business
inventories, all industries, as a percent of gross national
product (Q).-Source 1
(47,83)
248. Gross private domestic fixed investment, nonresidential,
as a percent of gross national product (Q).—Source
1
(47,83)
249. Gross private domestic fixed investment, residential, as
a percent of gross national product (Q).-Source
1
(47,83)
250. Net exports of goods and services in current dollars;
national income and product accounts (Q).—Source
1
(44,82)
II-A. National Income and Product
30. Gross private domestic investment, change in business
inventories, all industries, in 1972 dollars (Q).—Source
1
(26, 42, 68, 81)
50. Gross national product in 1972 dollars (Q).—Source
1
(19,39,40,63,80)
251. Net exports of goods and services as a percent of gross
national product (Q).-Source 1
(47,83)
252.
Exports of goods and services in current dollars;
national income and product accounts (Q).—Source
1
(44,82)
253.
Imports of goods and services in current dollars;
national income and product accounts (Q).—Source
1
(44,82)
64. Compensation of employees as a percent of national
income (Q).-Source 1
(30,47,70,83)
213. Final sales (series 50 minus series 30) in 1972 dollars
(Q).-Source 1
(40,80)
255. Net exports of goods and services in 1972 dollars;
national income and product accounts (Q).—Source
1
(44,82)
256. Exports of goods and services in 1972 dollars; national
income and product accounts (Q).—Source 1 (44,82)
217. Per capita gross national product in 1972 dollars (Q).—
Sources 1 and 2
(40,80)
257. Imports of goods and services in 1972 dollars; national
income and product accounts (Q).—Source 1 (44,82)
220. National income
1
in
current
dollars
(Q).—Source
(45,82)
260. Government purchases of goods and services, total in
current dollars (Q).-Source 1
(43,81)
223. Personal income
1
in
current
dollars
(M).—Source
(40,63)
261. Government purchases of goods and services, total, in
1972 dollars (Q).-Source 1
(43,81)
224. Disposable personal income in current dollars (Q).—
Source 1
(40,80)
262. Federal Government purchases of goods and services in
current dollars (Q).-Source 1
(43,81)
225. Disposable personal income in 1972 dollars (Q).—
Source 1
(40,80)
263.
227. Per capita disposable personal income in 1972 dollars
(Q).-Sources 1 and 2
(40,80)
265. Federal Government purchases of goods and services as
a percent of gross national product (Q).—Source
1
(47,83)
200. Gross national product in current dollars (Q).—Source
1
(40,80)
230. Personal consumption expenditures, total, in current
dollars (Q).-Source 1
(41,80)
231. Personal consumption expenditures, total, in 1972 dollars (Q).-Source 1
(41,80)
232. Personal consumption expenditures, durable goods, in
current dollars (Q).-Source 1
(41,80)
Personal consumption expenditures, total, as a percent
of gross national product (Q).—Source 1
(47,83)
236. Personal consumption expenditures, nondurable goods,
in current dollars (Q).-Source 1
(41,81)
237. Personal consumption expenditures, services, in current
dollars (Q).-Source 1
(41,81)
242. Gross private domestic fixed investment, total, in
current dollars (Q).-Source 1
(42,81)
243. Gross private domestic fixed investment, total, in 1972
dollars (Q).-Source 1
(42,81)
245.
Gross private domestic investment, change in business
inventories, all industries, in current dollars (Q).—
Source 1
(42,81)
total (Q).—Source
(46,83)
II-B. Prices, Wages, and Productivity
310. Implicit price deflator, gross national product (Q).—
Source 1
(48,84)
311. Fixed weighted price index, gross business product
(Q).-Source 1
(48,84)
320. Index of consumer prices, all items (M).—Source
3
(49,59,84,95)
322. Index of consumer prices, food (M).-Source 3(49,84)
330. Index of producer prices, all commodities (M).—Source
3
(48,85)
331. Index of producer prices, crude materials for further
processing (M).-Source 3
(48,85)
332. Index of producer prices, intermediate materials, supplies, and components (M).-Source 3
(48,86)
333. Index of producer prices, capital equipment (M).—
Source 3
(48,86)
334. Index of producer prices, finished consumer goods
(M).-Source 3
(48,86)
335. Index of producer prices, industrial commodities (M).—
Source 3
(48,85)
340. Index of average hourly earnings of production workers,
private nonfarm economy—adjusted for overtime (in
manufacturing only), interindustry employment shifts,
and seasonality (M).-Source 3
(49,87)
268.
346. Index of real average hourly compensation, all
employees, nonfarm business sector (Q).—Source
3
(49,88)
State and local government purchases of goods and
services as a percent of gross national product (Q).—
Source 1
(47,83)
280. Compensation of employees (Q).-Source 1
(45,82)
282. Proprietors' income with inventory valuation and capital
consumption adjustments (Q).—Source 1
(45,82)
283. Proprietors' income with inventory valuation and capital
consumption adjustments as a percent of national
income (Q).-Source 1
(47,83)
285. Rental income of persons with capital consumption
adjustment as a percent of national income (Q).—
Source 1
(47,83)
241. Gross private domestic investment, total, in 1972 dollars (Q).-Source 1
(42,81)
or deficit,
345. Index of average hourly compensation, all employees,
nonfarm business sector (Q).—Source 3
(49,87)
239. Personal consumption expenditures, services, in 1972
dollars (Q).-Source 1
(41,81)
Gross private domestic investment, total, in current dollars (Q).-Source 1
(42,81)
298. Government surplus
1
267. State and local government purchases of goods and
services in 1972 dollars (Q).-Source 1
(43,81)
284. Rental income of persons with capital consumption
adjustment (Q).-Source 1
(45,82)
240.
295. Business saving—undistributed corporate profits plus
capital consumption allowances with inventory valuation
and capital consumption adjustments (Q).—Source
1
(46,82)
266. State and local government purchases of goods and
services in current dollars (Q).—Source 1
(43,81)
Personal consumption expenditures, nondurable goods,
in 1972 dollars (Q).-Source 1
(41,81)
238.
(46,82)
293. Personal saving rate—personal saving as a percent of
disposable personal income (Q).—Source 1
(46,83)
341. Index of real average hourly earnings of production
workers, private nonfarm economy—adjusted for
overtime (in manufacturing only), interindustry
employment shifts, and seasonality (M).—Source
3
(49,87)
233. Personal consumption expenditures, durable goods, in
1972 dollars (Q).-Source 1
(41,80)
235.
Federal Government purchases of goods and services in
1972 dollars (Q).-Source 1
(43,81)
292. Personal saving (Q).-Source 1
286.
Corporate profits with inventory valuation and capital
consumption adjustments (Q).—Source 1
(47,82)
287. Corporate profits with inventory valuation and capital
consumption adjustments as a percent of national
income (Q).-Source 1
(47,83)
348. Negotiated wage and benefit decisions, all industriesfirst year average (mean) changes (Q).—Source
3
(50,88)
349. Negotiated wage and benefit decisions, all industriesaverage (mean) changes over life of contract (Q).—
Source 3
(50,88)
358. Index of output per hour, all persons, nonfarm business
sector (Q).-Source 3
(49,88)
370.
Index of output per hour, all persons, private business
sector (Q).-Source 3
(49,88)
II-C. Labor Force, Employment, and
Unemployment
37. Number of persons unemployed, labor force survey
(M).-Sources 2 and 3
(18,51,62,89)
(45,82)
441. Total civilian labor force survey (M).—Sources 2 and
3
(51,89)
289. Net interest as a percent of national income (Q).—
Source 1
(47,83)
442. Total civilian employment, labor force survey (M).—
Sources 2 and 3
(51,89)
290. Gross saving—private saving plus government surplus or
deficit (Q).-Source 1
(46,82)
444. Number unemployed, males 20 years and over, labor
force survey (M).-Sources 2 and 3
(51,89)
288. Net interest (Q).-Source 1
TITLES AND SOURCES OF SERIES- Continued
445. Number unemployed, females 20 years and over, labor
force survey (M).-Sources 2 and 3
(51,89)
565. National defense purchases as a percent
national product (Q).—Source 1
of gross
(55,91)
47. United States, index of industrial production, total
(M)-Source 4
(14,20,39,58,63,78,94)
446. Number unemployed, both sexes 16-19 years of age,
labor force survey (M).-Sources 2 and 3
(51,89)
570. Employment in defense products industries (M).—
Source 3; seasonal adjustment by Bureau of Economic
Analysis
(55,91)
320. United States, index of consumer prices, all items
(M)-Source 3
(48,59,84,95)
447.
Number unemployed, full-time workers, labor force
survey (M).-Sources 2 and 3
(51,89)
448. Number employed, part-time workers for economic
reasons, labor force survey (M).—Sources 2 and
3
(51,89)
451. Civilian labor force participation rate, males 20 years
and over (M).-Sources 2 and 3
(51,89)
452. Civilian labor force participation rate, females 20 years
and over (M).-Sources 2 and 3
(51,89)
453.
Civilian labor force participation rate, both sexes 16-19
years of age (M).-Sources 2 and 3
(51,89)
II-D. Government Activities
577.
Defense Department personnel, military, active duty
(EOM).-U.S. Department of Defense, OSD, Comptroller,
Washington Headquarters Services
(55,91)
578. Defense Department personnel, civilian, direct hire
employment (EOM).-U.S. Department of Defense, OSD,
Comptroller, Washington Headquarters Services(55,91)
580. Defense Department net outlays, military functions and
military assistance (M).—U.S. Department of Defense,
OSD, C o m p t r o l l e r , D i r e c t o r a t e for Program and
Financial Control; seasonal adjustment by Bureau of
Economic Analysis
(54,91)
588. Value of manufacturers' shipments, defense products
(M).-Source 2
(54,91)
II-E. U.S. International Transactions
501. Federal Government receipts; national income and product accounts (Q).-Source 1
(52,90)
602. Exports, excluding military aid shipments, total (M).—
Source 2
(56,92)
502.
604. Exports of agricultural products (M).—Source 2;
seasonal a d j u s t m e n t by Bureau of E c o n o m i c
Analysis
(56,92)
510. State and local government surplus or deficit; national
income and product accounts (Q).—Source 1 (52,90)
511. State and local government receipts; national income
and product accounts (Q).—Source 1
(52,90)
512. State and local government expenditures; national
income and product accounts (Q).—Source 1 (52,90)
517. Defense Department obligations incurred (M).—U.S.
Department of Defense, OSD, Comptroller, Directorate
for Program and Financial Control; seasonal adjustment
by Bureau of Economic Analysis
(53,90)
525. Defense Department military prime contract awards for
work performed in the United States (M).—U.S.
Department of Defense, OSD, Comptroller, Washington
Headquarters Services; seasonal adjustment by Bureau
of Economic Analysis
(53,90)
543. Defense Department gross unpaid obligations
outstanding (EOM).-U.S. Department of Defense, OSD,
Comptroller, Directorate for Program and Financial
Control; seasonal adjustment by Bureau of Economic
Analysis
(53,90)
548. Value of manufacturers' new orders, defense products
(M).- Source 2
(53,90)
606. Exports of nonelectrical machinery (M).—Source 2;
seasonal a d j u s t m e n t by Bureau of E c o n o m i c
Analysis
(56,92)
612. General imports, total (M).-Source 2
(56,92)
614. Imports of petroleum and petroleum products (M).—
Source 2; seasonal adjustment by Bureau of Economic
Analysis
(56,92)
616. Imports of automobiles and parts (M).—Source 2;
seasonal adjustment by Bureau of Economic
Analysis
(56,92)
618. Merchandise exports, adjusted, excluding military grants
(Q).-Source 1
(57,93)
620. Merchandise imports,
(Q).-Source 1
adjusted,
excluding
military
(57,93)
622. Balance on merchandise trade (Q).—Source 1 (57,93)
651. Income
1
on
U.S. investments abroad (Q).—Source
(57,93)
652. Income on foreign investments in the United States
(Q).-Source 1
667.
(57,93)
Balance on goods and services (Q).—Source 1(57,93)
557.
Output of defense and space equipment (M).— Source
4
(54,91)
668. Exports of goods and services, excluding transfers under
U.S. military grants (Q).-Source 1
(57,93)
559.
Value of manufacturers' inventories, defense products
(EOM)-Source 2
(54,91)
669. Imports
1
561. Value of manufacturers' unfilled orders, defense products (EOM).-Source 2
(54,91)
564. Federal Government purchases of goods and services for
national defense (Q).-Source 1
(55,91)
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).—
Deutsche Bundesbank (Frankfurt)
(58,94)
726. France, index of industrial production (M).—Institut
National de la Statistique et des Etudes Economiques
(Paris)
(58,94)
727. Italy, index of industrial production (M).—Institute
Centrale di Statistica (Rome)
(58,94)
500. Federal Government surplus or deficit; national income
and product accounts (Q).-Source 1
(52,90)
Federal Government expenditures; national income and
product accounts (Q).-Source 1
(52,90)
721. O r g a n i z a t i o n for Economic C o o p e r a t i o n and
Development, European countries, index of industrial
production (M).—Organization for Economic Cooperation and Development (Paris)
(58,94)
of goods and services, total (Q).—Source
(57,93)
II-F. International Comparisons
19. United States, index of stock prices, 500 common stocks
(M).-Standard & Poor's Corporation (13,28,59,69,96)
728. Japan, index of industrial production (M).—Ministry of
International Trade and Industry (Tokyo)
(58,94)
732.
United Kingdom, index of consumer prices (M).—
Ministry of Labour (London); percent changes seasonally adjusted by Bureau of Economic Analysis (59,95)
733. Canada, index of consumer prices (M).—Statistics
Canada (Ottawa); percent changes seasonally adjusted
by Bureau of Economic Analysis
(59,96)
735. West Germany, index of consumer prices (M).—
Statistisches Bundesamt (Wiesbaden); percent changes
seasonally adjusted by Bureau of Economic Analysis
(59,95)
736. France, index of consumer prices (M).—Institut
National de la Statistique et des Etudes Economiques
(Paris); percent changes seasonally adjusted by Bureau
of Economic Analysis
(59,95)
737.
Italy, index of consumer prices (M).—Institute Centrale
di Statistica (Rome); percent changes seasonally
adjusted by Bureau of Economic Analysis
(59,96)
738. Japan, index of consumer prices (M).—Office of the
Prime Minister (Tokyo); percent changes seasonally
adjusted by Bureau of Economic Analysis
(59,95)
742. United Kingdom, index of stock prices (M).—The
Financial Times (London)
(59,96)
743. Canada, index of stock prices (M).—Statistics Canada
(Ottawa)
(59,96)
745. West Germany, index of stock prices (M).—Statistisches
Bundesamt (Wiesbaden)
(59,96)
746. France, index of stock prices (M).—Institut National de
la Statistique et des Etudes Economiques (Paris)
(59,96)
747. Italy, index of stock prices (M).—Institute Centrale di
Statistica (Rome)
(59,96)
748. Japan, index of stock
Exchange (Tokyo)
prices
(M).—Tokyo Stock
(59,96)
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