Full text of Business Conditions Digest : September 1980
The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
U.S. DEPARTMENT OF COMMERCE
Philip M. Klutznick, Secretary
Courtenay M. Slater, Chief Economist for the Department of Commerce
BUREAU OF ECONOMIC ANALYSIS
George Jaszi, Director
Allan H. Young, Deputy Director
Charles A. Waite, Acting Associate Director for
National Analysis and Projections
Feliks Tamm, Editor
This report is prepared in the Statistical Indicators Division of the Bureau of Economic
Analysis. Technical staff and their responsibilities for the publication areBarry A. Beckman—Technical supervision and review
Brian D. Kajutti—Composite indexes
Morton Somer—Seasonal adjustments
Betty F. Tunstall—Data collection and compilation (Phone: 202-523-0541)
The cooperation of government and private agencies that provide data is gratefully
acknowledged. Agencies furnishing data are indicated in the list of series titles and sources
at the back of this report.
This publication is prepared under the general guidance of a technical committee under the
auspices of the Office of Federal Statistical Policy and Standards. The Committee consists of
the following persons:
Beatrice N. Vaccara, Chairman, Bureau of Industrial Economics, 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
the cyclical indicators section, in which each
business cycle indicator is assigned a three-way
timing classification according to its behavior at
peaks, at troughs, and at all turns. This section is
supplemented by a section containing other important economic measures. The method of
presentation is explained in the introductory text
which begins on page 1.
Annual subscription price: $55.00 domestic,
$68.75 foreign. Single copy price: $4.75
domestic, $5.95 foreign. Foreign airmail rates
are available upon request. Address all
correspondence concerning subscriptions to the
Most of the data contained in this report
also are published by their source agencies. A
series finding guide and a complete list of series
titles and sources can be found at the back of the
report.
Cyclical Indicators are economic time series
which have been singled out as leaders, coinciders, or laggers based on their general conformity to cyclical movements in aggregate
economic activity. In this report, cyclical indicators are classified both by economic process
and by their average timing at business cycle
peaks, at business cycle troughs, and at peaks
and troughs combined. These indicators have
been selected primarily on the basis of their
cyclical behavior, but they also have proven
useful in forecasting, measuring, and interpreting short-term fluctuations in aggregate
economic activity.
Other Economic Measures provide additional information for the evaluation of current business
conditions and prospects. They include selected
components of the national income and product
accounts; measures of prices, wages, and
productivity; measures of the labor force,
employment, and unemployment; economic
data on Federal, State, and local government activities; measures of U.S. international transactions; and selected economic comparisons with
major foreign countries.
Superintendent of Documents, U.S. Government
Printing Office, Washington, D.C. 20402. Make
checks payable to the Superintendent of
Documents.
BUSINESS CONDITIONS DIGEST
KCII
New Features and Changes for This Issue
METHOD OF
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 1980
Data Through August
Volume 20, Number 9
L
CYOUfAi
Al |
A2 |
A3 j
A4
T i f f IH iX^V^O^/; 1 ^
Composite Indexes
Leading Index Components
Coincident Index Components
Lagging Index Components
Bl
B2
B3
B4
B5
B6
B7
rf . ; \>.^v^fv!> '^'r*-. ; S
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
'
Chart
10
12
14
15
Table
60
—
—
—
16
19
21
23
26
28
31
61
63
64
65
68
69
71
36
—
39
74
77
—
,:<.- :. f :--: i^t't i:/
w; K-V ' ; i-/ <v*<v • ' *
Cl
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
transaction of the public business required by law of this Department. Use of funds for printing this
periodical has been approved by the Director of the Office of Management and Budget through SeptemDigitized
berfor1,FRASER
1980.
BCII
II.
IMPORTANT
NATIONAL INCOME
AND PRODUCT
GNP and Personal Income
Personal Consumption Expenditures
Gross Private Domestic Investment
Government Purchases of Goods and Services
Foreign Trade
National Income and Its Components
Saving
Shares of GNP and National Income
All
A2
A3
A4
A5
A6 H
A7 "
A8
m
PK.'CTlv WAGES
.*NL» PRODUCTS iTY
Bl
B2 |
Price Movements
Wages and Productivity
Chart
40
41
42
43
44
45
46
47
Table
80
80
81
81
82
82
82
83
48
49
84
87
51
89
52
53
90
90
• A30ft fOvtcE ttaKOtf^'fuT
AND UNEMPLOYMENT
Cl
Civilian Labor Force and Major Components
jjj
GOVERNMENT A C T S V i T u .•
Dl i
D2 :
Receipts and Expenditures
Defense Indicators
I
I
I
fJ
- INTFRNATIOf^P' TK^NolAC f'fONS
El j
E2
Merchandise Trade
Goods and Services Movements
56
57
92
93
Fl"i
F2 i
F31
Industrial Production
Consumer Prices
Stock Prices
58
59
59
94
95
96
I
III
A. MCD and Related Measures of Variability (April 1980 issue)
QCD and Related Measures of Variability (April 1980 issue)
B. Current Adjustment Factors
C. Historical Data for Selected Series
97
98
D. Descriptions and Sources Of Series (See "Alphabetical Index—Series Finding Guide")
E. Business Cycle Expansions and Contractions: 1854 to 1975 (March 1980 issue)
F. Specific Peak and Trough Dates for Selected Indicators (June 1980 issue)
G. Experimental Data and Analyses
Alphabetical Index—Series Finding Guide
Titles and Sources of Series
106
110
114
Readers are invited to submit comments and
suggestions concerning this publication.
Address them to 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 availChanges in this issue are as follows:
able time series, and
1. The series on U.S. industrial production (series
47, 73, 74, 75, 76, 557, and 966) have been revised for the
period 1979 to date to reflect the source agency's annual
updating of the basic data.
revisions made by
Further information concerning these revisions may be
obtained from the Board of Governors of the Federal Reserve
System, Division of Research and Statistics, Business
Conditions Section.
source agencies in
concept, composition,
comparability, coverage,
seasonal adjustment
methods, benchmark
data, etc. Changes may
result in revisions of
data, additions or
2. Series 62 (Index of labor cost per unit of output,
manufacturing) has been revised for the period 1979 to date
to reflect the revision of its industrial production
component. (See item 1, above.)
deletions of series,
Further information concerning this revision may be
obtained from the U.S. Department of Commerce, Bureau of
Economic Analysis, Statistical Indicators Division.
in composition of
3. Series 82 and 84 on Capacity utilization rates
have been revised by the source agency for the period 1979
to date. These revisions reflect revised capacity indexes
and industrial production indexes.
Further information concerning these revisions may be
obtained from the Board of Governors of the Federal Reserve
System, Division of Research and Statistics, Business
Conditions Section.
4. Appendix C contains historical data for series 31,
40, 41, 47, 48, 93, 94, 570, 913-917, 940, 961, 963, and
964.
5. Appendix G contains cyclical comparisons for
series 1, 3, 8, 20, 913, 914, 915, and 917.
The October issue of BUSINESS CONDITIONS DIGEST is scheduled
for release on November 3.
in
changes in placement of
series in relation to
other series, changes
indexes, etc.
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 B E A 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
monthly 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.
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.
Month-to-month changes in a series are often
dominated by erratic movements. MCD (months for
cyclical dominance) is an estimate of the appro-,
priate 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.
The historical business cycle turning dates used
in this report are those designated by the National
Bureau of Economic Research, Inc. (NBER). They
mark the approximate dates when, according to
NBER, aggregate economic activity reached its
cyclical high or low levels. As a matter of general
practice, neither new reference turning dates nor
the shading for recessions will be entered on the
charts until after both the new reference peak and
the new reference trough bounding the shaded area
have been designated.
The historical reference turning dates are subject
to periodic review by NBER and on occasion are
changed as a result of revisions in important
economic time series. The dates shown in this publication for the 1948-1970 time period are those
determined by a 1974 review. The turning dates for
the 1973-1975 period are detailed in NBER's 1976
Annual Report.
!Nf)iCATi.?;>
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 historicai experience have been
definitely nonperiodic and have varied greatly in
duration and intensity, reflecting changes in
economic systems, conditions, policies, and
outside disturbances.
One of the techniques developed in business
cycle research and widely used as a tool for analyzing current economic conditions and prospects is
the cyclical indicators approach. This approach
identifies certain economic time series as tending
to lead, coincide with or lag behind the broad
movements in aggregate economic activity. Such
indicators have been selected and analyzed by
NBER in a series of studies published between
1938 and 1967. During the 1972-75 period, a new
comprehensive review of cyclical indicators was
carried out by the Bureau of Economic Analysis
(BEA) with the cooperation of the NBER research
staff. The present format and content of part I of
BCD are based on the results of that study.
Section A. Composite Indexes and
Their Components
All cyclical indicators have been evaluated according to six major characteristics: Economic
significance, statistical adequacy, consistency of
timing at business cycle peaks and troughs,
c o n f o r m i t y to business e x p a n s i o n s and
contractions, smoothness, and prompt availability
(currency). A formal, detailed weighting scheme
was developed and used to assess each series by all
of the above criteria. (See articles in the May and
November 1975 issues of BCD.) The resulting
scores relate to cyclical behavior of the series
during the period 1947-70. This analysis produced
a new list of indicators classified by economic
process and typical timing at business cycle peaks
and troughs. (See tables on page 2 and text below
relating to section B.)
This information, particularly the scores relating
to consistency of timing, served as a basis for the
selection of series to be included in the composite
indexes. The indexes incorporate the best-scoring
series from many different economic-process
groups and combine those with similar timing
behavior, using their overall performance scores as
weights. Because they use series of historically
tested usefulness and given timing characteristics
(for example, leading at both peaks and troughs),
with diversified economic coverage and a minimum
of duplication, composite indexes give more
reliable signals over time than do any of the
individual indicators. Furthermore, much of the
1
A. Timing at Business Cycle Peaks
Economic
Process
Cyclical
Timing
LEADING (L)
INDICATORS
(62 series)
ROUGHLY
COINCIDENT(C)
INDICATORS
(23 series)
LAGGING (Lg)
INDICATORS
(18 series)
TIMING
UNCLASSIFIED
1
EMPLOYMENT
AND
UNEMPLOYMENT
II.
III.
AND
INCOME
(10 series)
CONSUMPTION.
TRADE,
ORDERS, AND
DELIVERIES
(13 series)
PRODUCTION
(18 series)
IV.
FIXED
CAPITAL
INVESTMENT
(18 series)
V.
INVENTORIES
AND
INVENTORY
INVESTMENT
(9 series)
VI.
PRICES, COSTS,
AND PROFITS
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)
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)
Comprehensive
employment
(1 series)
Comprehensive
output and
real income
(4 series)
Industrial
production
(4 series)
Consumption
and trade
(4 series)
Backlog of
investment
commitments
(1 series)
Business
investment
expenditures
(5 series)
Duration of
unemployment
(2 series)
Business
investment
expenditures
(1 series)
Comprehensive
employment
(3 series)
Trade
(1 series)
Business
investment
commitments
(1 series)
(U)
(8 series)
(17 series)
VII
MONEY
AND CREDM
(26 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)
Velocity of
money
(2 series)
1 nterest rates
(2 series)
Inventories on
hand and on
order
(4 series)
Unit labor costs
and labor share
(4 series)
1 nterest rates
(4 series)
Outstanding
debt
(3 series)
Commodity
prices
(1 series)
Profit share
(1 series)
Interest rates
(1 series)
B. Timing at Business Cycle Troughs
Economic
Process
Cyclical
Timing
LEADING (L)
INDICATORS
(47 series)
ROUGHLY
COINCIDENT(C)
INDICATORS
(23 series)
LAGGING (Lg)
INDICATORS
(40 series)
TIMING
UNCLASSIFIED
(U)
for FRASER
(1 series)
1.
EMPLOYMENT
AND
UNEMPLOYMENT
(18 series)
II.
PRODUCTION
AND
INCOME
(10 series)
1 11
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)
MONEY
AND CREDIT
(26 series)
Marginal
employment
adjustments
(3 series)
Industrial
production
(1 series)
New and unfilled
orders and
deliveries
(5 series)
Consumption
and trade
(4 series)
Formation of
business
enterprises
(2 series)
Business
investment
commitments
(4 series)
Residential
construction
(3 series)
Inventory
investment
(4 series)
Stock prices
(1 series)
Commodity
prices
(2 series)
Profits and
profit margins
(6 series)
Cash flows
(2 series)
Money flows
(2 series)
Real money
supply
(2 series)
Credit flows
(4 series)
Credit
difficulties
(2 series)
Marginal
employment
adjustments
(2 series)
Comprehensive
employment
(4 series)
Comprehensive
output and
real income
(4 series)
Industrial
production
(3 series)
Capacity
utilization
(2 series)
Consumption
and trade
(3 series)
Business
investment
commitments
(1 series)
Profits
(2 series)
Money flow
(1 series)
Velocity of
money
(1 series)
Unfilled orders
(1 series)
Business
investment
commitments
(2 series)
Business
investment
expenditures
(6 series)
Unit labor costs
and labor share
(4 series)
Velocity of
money
(1 series)
Bank reserves
(1 series)
Interest rates
(8 series)
Outstanding debt
(3 series)
Marginal
employment
adjustments
(1 series)
Job vacancies
(2 series)
Comprehensive
employment
(1 series)
Comprehensive
and duration
of
unemployment
(5 series)
Digitized
Inventories on
hand and on
order
(5 series)
VII.
Bank reserves
(1 series)
independent measurement error and other "noise"
in the included series are smoothed out in the
index as a whole. The indexes include only monthly
series that are acceptable in terms of relatively
prompt availability and reasonable accuracy.
The main composite indexes are distinguished by
their cyclical timing. Thus, there is an index of
leading indicators, series which historically reached
their cyclical peaks and troughs earlier than the
corresponding business cycle turns. There is an
index of roughly coincident indicators, consisting
of series which historically reached their turning
points at about the same time as the general
economy, and an index of lagging indicators, which
includes series that typically reached their peaks
and troughs later than the corresponding business
cycle turns.
The leading index contains series with long as
well as short leads, but each series leads on the
average over time and shows a frequency of leads
at the individual turns exceeding that attributable
to chance, given the historical distribution of
cyclical timing. (An analogous statement applies to
the components of the lagging index.) Since 1948,
leads were generally more frequent and longer at
peaks than at troughs of business cycles, while lags
were generally more frequent and longer at troughs
than at peaks. The adopted system of scoring and
classifying the indicators takes into account these
w e l l - e s t a b l i s h e d d i f f e r e n c e s i n 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,Lg." It should be remembered that
these classifications are based on limited evidence,
namely the performance of the indicators during
the business cycles of the 1948-70 period, which
included five peaks and five troughs. While the
timing classifications are expected to agree with
the patterns prevailing in the near future, they will
not necessarily hold invariably in every instance.
The timing of the series in the 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.
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
Section B. Cyclical Indicators by Economic Process expectations for several operating variables are
presented, along with the corresponding indexes
This section covers 111 individual time series, based on actual data, as the last set of diffusion
including the 22 indicators used in the series.
This section also records rates of change for the
construction of the composite indexes. The peak
and trough timing classifications are shown on the three composite indexes (leading, coincident, and
charts in the same manner as described above, but lagging) and for four indicators of aggregate
this section includes series with different timing at economic activity: GNP in constant dollars
peaks and at troughs, as well as series where the (quarterly), industrial production, employee hours
in nonagricultural establishments, and personal
timing is not sufficiently consistent to be classified
as either L,C, or Lg according to the probabilistic income less transfers in constant dollars. Rates of
measures and scoring criteria adopted. Such series change are shown for 1- and 3-month spans or for
1-quarter spans.
are labeled U, i.e., unclassified as to timing at
Although movements in diffusion indexes and in
turning points of the given type. Eight series are
rates of change for the same aggregates are
unclassified at peaks, one series at troughs, and 19
series at all turns (of the 19, 15 have definite but generally positively correlated, these two measures
different timing at peaks and at troughs). No series present information about two related but distinct
that is classified as U both at peaks and at troughs aspects of economic change. Diffusion indexes
measure the prevailing direction or scope of
is included in the list of cyclical indicators.
change, while rates of change measure the degree
The classification scheme which groups the
as well as the overall direction. As is the case for
indicators of this section by economic process and
diffusion indexes, cyclical movements in the rates
cyclical timing is summarized in the two
of change tend to lead those of the corresponding
tabulations on page 2. Cross-classification A is
indexes or aggregates, and thus, they tend to lead
based on the observed behavior of the series at five
at the business cycle turns as well.
business cycle peaks (November '48, July '53,
Gross private domestic investment (A3) is fixed
capital goods purchased by private business and
nonprofit institutions and the value of the change
This part is divided into six sections which cover in the physical volume of inventories held by
a wide range of quarterly and monthly time series private business. The former include all private
measuring various aspects of economic activity. purchases of dwellings, whether purchased for
Some of these series are very comprehensive, tenant or owner occupancy. Net purchases of used
pertaining to the U.S. economy as a whole, others goods are also included.
Government purchases of goods and services
have to do with particular sectors or markets, and
(A4)
is the compensation of government employees
still others relate to U.S. international transactions
and
purchases
from business and from abroad. It
or to selected foreign countries. The represented
excludes
transfer
payments, interest paid by
variables include incomes, outputs, and
expenditures; prices, earnings, and productivity; government, and subsidies. It includes gross
labor 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
ports and imports; and selected indicators for a few used goods and excludes sales and purchases of
land and financial assets.
key foreign countries.
Net exports of goods and services (A5) is exports
less imports of goods and services. Exports are part
Section A. National Income and Product
of the national production; imports are not, but are
The national income and product accounts,
included in the components of GNP and are
compiled by BEA, summarize both receipts and therefore deducted. More detail on U.S.
final expenditures for the personal, business,
international transactions is provided in section E.
foreign, and government sectors of the economy.
National income (A6) is the incomes that
Section Al shows the gross national product, originate in the production of goods and services
final sales, and personal and disposable personal attributable to labor and property supplied by
income. The four major components of the gross
residents of the United States. Thus, it measures
n 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 proexpenditures, gross private domestic investment, duced. It consists of the compensation of
government purchases of goods and services, and employees, proprietors' income, rental income of
net exports of goods and services—are presented in persons, corporate profits, and net interest.
sections A2 through A5. Most of the series in
Saving (A7) is the difference between income
section A are presented in current as well as and expenditures during an accounting period.
constant dollars. There are also a few per capita Total gross saving includes personal saving,
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
the Survey of Current Business, Part I, government surplus or deficit.
January 1976.
Shares of GNP and national income (A8).—The
Gross national product (GNP) is the market major e x p e n d i t u r e c o m p o n e n t s of GNP
value of final goods and services produced by the (consumption, investment, etc.) are expressed as
labor and property supplied by residents of the percentages of GNP, and the major income
United States, before deduction of allowances for components of national income (compensation of
the consumption of fixed capital goods. It is the employees, corporate profits, etc.) are expressed as
most comprehensive measure of aggregate percentages of national income.
economic output. Final sales is GNP less change in
business inventories.
Personal income is the income received by
persons (individuals, owners of unincorporated Section B. Prices, Wages, and Productivity
businesses, nonprofit institutions, private trust
funds, and private noninsured welfare funds) from
The important data on price movements include
all sources. It is the sum of wage and salary the monthly consumer and producer price indexes
disbursements, other labor income, proprietors' and their major components. Based largely on
income, rental income of persons, dividends, these series are the quarterly price indexes from
personal interest income, and transfer payments, the national income and product accounts, notably
less personal contributions for social insurance.
the GNP implicit price deflator (with weights
Disposable personal income is the personal reflecting the changing proportions of different
income available for spending or saving. It consists expenditure categories in GNP) and the fixedof personal income less personal taxes and nontax weighted price index for the gross business prodpayments to government.
uct. Data on both levels and percent changes are
Personal consumption expenditures (A2) is presented for the period since 1969.
The group of series on wages and productivity
goods and services purchased by individuals,
operating expenses of nonprofit institutions, and consists of data on average hourly earnings and
the value of food, fuel, clothing, rent of dwellings, average hourly compensation (including earnings
and financial services received in kind by in- and other benefits) in current and constant dollars,
dividuals. Net purchases of used goods are also in- output per hour of work in the business sector, and
rates of change for most of these measures.
cluded.
Part II. OTHER IMPORTANT ECONOMIC
MEASURES
4
Section C. Labor Force, Employment, and
Unemployment
This section contains measures of the civilian
labor force and its major components: Total
numbers of employed and unemployed persons.
The number of unemployed is subdivided into
selected categories defined by sex, age, and class
of worker. Also included are data on participation
rates for a few principal segments of the labor
force.
Section D. Government Activities
Receipts, expenditures, and their balance (surplus or deficit) are shown quarterly on two levels:
(1) Federal Government and (2) State and local
government. Also shown is a selection of series
from the discontinued Defense Indicators,
These series measure defense activities which
influence short-term changes in the national
economy. Included are series relating to
obligations, contracts, orders, production,
shipments, inventories, outlays, and employment.
These series are grouped according to the time at
which the activities they measure occur in the
defense order-production-delivery process. Series
measuring activities which usually precede production, such as contract awards and new orders,
are classified as "advance measures of defense
activity." Series measuring activities which tend to
coincide with production, such as employment, and
activities which usually follow production, such as
shipments, are classified as "intermediate and final
measures of defense activity."
Section E. U.S. International Transactions
This group includes monthly series on exports
(excluding military aid) and general imports, plus a
few selected components of these aggregates. Also
shown are the balances between receipts and
expenditures for goods and services, merchandise,
and investment income.
Section F. International Comparisons
This section is designed to facilitate a quick
review of basic economic conditions in six of the
nations with which we have important trade
relationships. The U.S. business cycle shading has
been omitted from these charts. Data on industrial
production, consumer prices, and stock prices for
Canada, the United Kingdom, France, West Germany, Japan, and Italy a r o compared with the corresponding U.S. series. Also included is an industrial production index for the European
countries in the Organization for Economic
Cooperation and Development (OECD). The industrial production series provide cyclically sensitive output measures for large parts of the
economies covered. Changes in consumer price indexes (plotted for the period since 1969) provide
important measures of the rates of inflation in the
major industrialized countries. Stock prices (also
shown beginning in 1969) tend to be significant as
leading indicators.
HOW TO READ CHARTS
Peak (P) of cycle indicates
end of expansion and beginning of recession (shaded
area) as designated by NBER.
Basic Data
Arabic number indicates latest
month for which data are
plotted. ("9" = September)
Solid line indicates monthly
data. (Data may be actual
monthly figures or moving
averages.)
Dotted line indicates anticipated data.
Broken line indicates actual
monthly data for series where
a moving average is plotted.
Roman
number indicates
latest quarter for which data
are plotted. ("IV" - fourth
quarter)
Solid line with plotting points
indicates quarterly data.
Parallel lines indicates a break
in continuity (data not available, extreme value, etc.).
Diffusion Indexes
Solid line indicates monthly
data over 6- or 9-month
spans.
Broken line indicates monthly
data over 1-month spans.
Various scales are used to
highlight the patterns of the
individual series. "Scale A"
is an arithmetic scale, "scale
L-1" is a logarithmic scale
with 1 cycle in a given distance, "scale L-2" is a logarithmic scale with two cycles
in that distance, etc.
Arabic number indicates latest
month for which data are
used in computing the indexes.
Broken line with plotting
points indicates quarterly
data over 1-quarter spans.
Roman
number indicates
latest quarter for which data
are used in computing the indexes.
Solid line with plotting points
indicates quarterly data over
various spans.
Diffusion indexes and rates
of change are centered within
the spans they cover.
Trough (T) of cycle indicates
end of recession and beginning of expansion as designated by NBER.
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 - o r 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.
Basic data1
Timing
classification3
Series title
Percent change
Unit
Average
of
June
measure
1979
1978
4th Q
IstQ
2dQ
June
July
1979
1980
1980
1980
1980
Aug.
1980
July
to
to
July
Aug.
1980
1980
Series number
1
Table 1. Summary of Recent Data and Current Changes for Principal Indicators
4th Q
to
IstQ
IstQ
1980
1980
-2.1
-0.3
-7.0
-4.6
-0.4
910
920
930
-6.6
-5.4
-3.7
913
914
915
916
917
to
2dQ
I. CYCLICAL INDICATORS
A. Composite Indexes
910. Twelve leading indicators
920 Four coincident indicators
930. Six lagging indicators
,
...
Leading Indicator Subgroups:
913. Marginal employment adjustments
914. Capital investment commitments
915. Inventory investment and purchasing
916 Profitability
917. Money and financial flows
L,L,L
c,c,c
Lg,Lg,Lg
L,L,L
L,L,L
L,L,L
L LL
L,L,L
1967=100 ..
do. ...
do. . . .
141.8
140.1
143.1
do.
do.
do.
do
do.
...
...
...
115.7
106.2
...
149.0
98.1
93.2
140.1
145.1
166.4
136.3
145.1
111 .1
133.5
144.7
183.4
124.2
138.0
182.7
124.0
136.1
168.1
96.8
96.3
95.7
89.4
89.6
113.5
105.9
112.5
102.6
110.1
102.2
104.2
104.8
89.4
128.6
135.8
164.1
131.0
136.1
162.4
92.1
93.1
106.5
107.4
98.4
97.2
98.5
99.3
145.5
140.8
136.8
NA
127.3
NA
125.7
NA
128.4
NA
130.6
40.2
40.1
40.1
39.4
39.1
39.1
39.6
91.7
90.4
3.7
-0.2
-2.4
1.9
0.2
3.2
-1.0
2.8
1.6
1.3
NA
2.1
1.1
0.8
0.8
NA
1.7
0.
0.1
0.1
1 .3
0.3
0.3
6.3
-0.6
-2.1
-0.4
-1 .1
-2.8
NA
-6.9
B. Cyclical Indicators by Economic Process
B1. Employment and Unemployment
Marginal Employment Adjustments:
*1 . Average workweek, prod, workers, mfg
L,L,L
21. Avg. weekly overtime, prod, workers, mfg.2 ..
L,C,L
2. Accession rate, per 100 employees, mfg.2 . . . .
L,L,L
5 Avg weekly initial claims (inverted 4 )
L,C,L
*3. Layoff rate, per 100 employ., mfg. (inv.4)2 . . L,L,L
4. Quit rate, per 100 employees, mfg.2
L,Lg,U
Job Vacancies:
60. Ratio, help-wanted advertising to persons
unemployed2
46 Help-wanted advertising
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 age2
Hours
do. . . .
Percent
Thousands. .
Percent
do. . . .
L,Lg,U
L Lg U
Ratio
1967=100
u,c,c
u,c,c
Thousands. .
C,C,C
L,C,U
do. . . .
do. . . .
U,Lg,U
A.r., bil. hrs. .
Percent
Comprehensive Unemployment:
37. Total unemployed (inverted4)
L,Lg,U Thousands . .
43. Unemployment rate, total (inverted 4 ) 2
L,Lg,U Percent
4 2
45. Avg. weekly insured unemploy-rate (inv. ) . . L,Lg,U
do. . . .
*91. Avg. duration of unemployment (inverted4) . . Lg,Lg,Lg Weeks
44. Unemploy. rate, 15 weeks and over (inv. 4 ) 2 .. Lg,Lg,Lg Percent
40.4
3.6
4.1
339
0.9
2.1
3.3
4.0
381
1.1
2.0
3.2
4.0
404
1.2
2.0
3.1
3.8
406
1.4
1.9
2.7
3.1
607
3.1
1.4
2.4
3.3
617
2.9
1.4
2.5
3.4
536
1.7
1.3
2.8
3.7
502
2.0
1.3
0.738
0.786
0.699
0.446
0.428
0.428
0.438
149
158
161
150
116
115
118
118
164.56
91,031
86,697
25,585
169.89
93,648
89,886
26,504
170.90
94,319
90,557
26,549
171.97
94,486
91,120
26,605
169.39
93,622
90,489
25,763
168.42
93,346
90,047
25,422
167.59
93,739
89,865
25,142
168.27
93,826
90,066
25,275
58.59
59.25
59.31
59.17
58.41
58.12
58.29
58.23
6,047
5,963
6,084
6,390
7,808
8,006
8,207
6.0
3.2
5.8
3.0
5.9
3.0
6.1
3.2
7.5
4.2
7.7
4.6
7.8
4.5
8,019
7.6
4.3
11.9
10.8
0.789
10.5
10.7
11.2
11.7
11.6
12.6
13.1
1.2
-0.1
0.
2.6
-0.3
0.
0 .010
0.
0.
-1 .7
-0.1
-0.2
-0.5
-0.2
-0.1
-0.4
-0.7
-49.5
-0.090
-0.253
-6.8
-1.7
-0.5
1
21
2
5
3
4
-22.7
60
46
0.4
Q.I
0.2
0.5
0.6
0.2
0.6
0.2
-1.5
-0.9
-0.7
-3.2
48
42
41
40
0.17
-0 .06
-0.14
-0.76
90
-2.5
-0.1
2.3
0.2
0.2
-5.0
-0.2
-0.2
-1.9
-0.1
-22.2
-1.4
-1.0
-4.7
-0.3
37
43
45
91
44
-0.5
0.4
-0.2
-1.1
0.1
0.9
-8.6
-0.3
2.1
-0.1
1399.2 1431.6 1440.3 1 4 4 4 . 7 1408.6
1145.2 1176.3 1186.8 1182.2 1165.1 1164.6 1174.7 1172.1
9 9 5 . 7 1024.1 1029.1 1024.3 1006.9 1005.1 1002.6 1002.1
-0.2
0.
-0.4
-0.5
-2.5
-1.4
-1.7
50
52
51
1.4
1.2
1.2
1.3
1.6
1.7
1.8
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 mfrs
74. Industrial production, nondurable mfrs
49. Value of goods output, 1972 dollars
Capacity Utilization:
82. Capacity utilization rate, mfg., FRB 2
83 Capacity utilization rate mfg BEA 2
84. Capacity utilization rate, materials, FRB 2 . . . .
C,C,C
0 .3
c,c,c
c,c,c
A.r., bil. dol.
do. . . .
......do. . . .
c,c,c
do
243.5
246.0
241.5
238.5
228.1
224.7
223 .4
224.8
-0.6
0.6
-1.2
-4.4
53
c,c,c
c,c,c
1967=100...
152.5
146.4
164.0
653.1
152.5
145.3
165.0
655.1
152.5
144.1
165.5
659.7
144.6
133.9
158.3
636.9
141.4
129.9
155.3
139.8
127.6
153.4
140.5
128.4
154.0
-1.1
-1.8
-1.2
0 .5
0.6
0.4
-0.8
C,L,L
C,C,C
146.1
139.7
156.9
639.5
0.
do. . . .
do. ...
A.r., bil.dol.
-5.2
-7.1
-4.4
-3.5
47
73
74
49
L,C,U
Percent. . . . .
84.4
85.6
84.4
83.4
77.9
-1 .0
-1
-5.5
L,C,U
do
do. ...
-0.8
-6.8
82
83
84
84
85.6
82
81
80
0.9
-0.2
76
87.4
86.3
85.5
78.7
77.20
41.40
76.54
39.43
36.46
34.71
80.01
39.61
35.21
68.73
33.76
29.48
0.3
0 .7
-4
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 goods2
96. Mfrs.' unfilled orders, durable goods5
*32. Vendor performance 2 ©
L,L,L
L,L,L
L,L,L
L,L,L
L,Lg,U
L,L,L
Consumption and Trade:
c,c,c
56. Manufacturing and trade sales
*57. Manufacturing and trade sales, 1972 dollars . . C,C,C
C,L,C
75 Industrial production consumer goods
C,L,U
54 Sales of retail stores
U,L,U
59. Sales of retail stores, 1972 dollars
58 Index of consumer sentiment®
Bil.dol
do
do. . . .
do. . . .
Bil.dol., EOP
Percent
Bil.dol
L,C,C
L,L,L
do. . . .
1967=100...
Mil. dol
do. . . .
A.r., bil.dol.
I Q 1966=100
L,L,L
L,L,L
1967=100...
Number. . . .
70.19
41.48
37.16
3.68
228.82
64
72.30
34.74
31.37
11.3
10.3
0.04
1.68
-2.60
2.33
-1.50
2.05
3.26
267 .88 2 6 7 . 8 8 2 7 4 . 8 8 2 7 0 . 3 8 2 7 0 . 3 8 2 7 2 . 0 6 272.10
34
32
28
45
33
49
63
4.28
66.45
32.42
29.07
73.98
35.77
31 .66
NA
NA
141.7
141.6
142.2
148.3
143.3
149.2
150.8
149.1
66,741 73,837 7 6 , 3 8 5 7 7 , 9 9 7 7 5 , 2 0 0 76,001 78,394 7 9 , 5 3 3
4 4 , 3 1 4 4 4 , 8 0 0 4 4 , 8 7 9 4 4 , 3 4 4 4 1 , 7 7 7 4 2 , 0 1 3 43,169 4 3 , 2 4 8
254.26 288.28 300.05 309.65 293.99 294.20 302.71
156.32 159.82 158.89 158.76 148.54 147.80 151.45
68.0
79.4
69.2
66.0
66.8
62.1
71.5
63.5
132.9
131.7
132.4
128.9
52.5
54.4
58.7
62.3
67.3
8.9
0.6
4
-2.3
-2.9
-0.9
-1.64
0.
4.5
0.5
1.4
0.28
2
2 .6
-4
-1.6
3 .2
-5.1
-6.4
-3.4
-3.6
-5.8
3.1
2.8
NA
NA
0.1
1.5
0.2
6.1
8.0
7.0
2.3
0.4
NA
NA
NA
-2 .6
-2 .4
2.9
2 .5
-0.4
-14.1
-14.8
-16.3
-3.83
-0.1
-0.6
2.1
-1.2
-12
6
7
8
25
96
32
-26.6
-14.3
56
57
75
54
59
55
58
-8.7
-5.7
12
13
B4. Fixed Capital Investment
Formation of Business Enterprises:
*12 Net business formation
13. New business incorporations
3 9 , 9 9 6 43,714 4 4 , 9 5 6 4 3 , 8 8 2
117.7
114.8
41,394 3 9 , 7 4 6
115.3
NA
NA
NA
Table 1. Summary of Recent Data and Current Changes for Principal Indicators—Continued
Basic data1
Series title
Timing
classification3
Unit
of
measure
Percent change
Average
1978
1979
4th 0
1979
IstQ
1980
2dQ
1980
June
1980
July
1980
June
to
July
1980
Aug.
1980
July
to
Aug.
1980
4th Q
to
IstQ
1980
IstQ
to
2dQ
1980
5
E
3
C
»
£
I. CYCLICAL INDICATORS-Con.
B4. Fixed Capital In vestment -Con.
Business Investment Commitments:
Bil. dol
10. Contracts and orders, plant and equipment . . . L,L,L
*20. Contr. and orders, plant and equip.,
do. . . .
1972 dol
..
.
L LL
do. . . .
24. New orders, cap. goods Indus., nondefense . . . L,L,L
27. New orders, capital goods industries, nondedo. . . .
fense, 1972 dollars
L,L,L
9. Construction contracts, commercial and industrial buildings floor space
L,C,U Mil. sq.ft. . .
1 1 New capital appropriations, mfg
U,Lg,U Bil. dol
97. Backlog of capital appropriations, mfg.5 . . . . . C,Lg,Lg Bil. dol., EOP
Business Investment Expenditures:
61. Business expend., new plant and equipment .. C,Lg,Lg A.r., bil. dol.
69. Machinery and equipment sales and business
do. . . .
construction expenditures
C,Lg,Lg
76. Industrial production, business equip
C,Lg,U 1967=100...
86. Nonresid. fixed investment, total, 1972 dol. .. C,Lg,C A.r., bil. 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
22.01
25.32
25.77
26.06
22.77
22.92
24.86
24.90
8.5
0.2
1.1
-12 .6
10
13.60
18.30
14.57
21.64
14.50
21.70
14.18
22.64
12.38
20.57
12.62
19.95
13.72
21.61
13.54
20.31
8.7
8.3
-1.3
-6.0
-2.2
4.3
-12.7
-9.1
20
24
11.41
12.68
12.52
12.57
11.36
11.26
12.24
11.45
8.7
-6.5
0.4
-9.6
27
72.28
65.99
1.5
-8.7
5.7
26.7
9.7
-24.2
-12.7
4.3
9
11
97
2 .4
1.3
61
2 3 0 . 1 3 271.93 2 8 4 . 1 0 3 0 0 . 3 9 2 9 2 . 5 5 292.17 2 9 4 . 1 3
171.3
175.7
171.7
168.1
160 .3
173.0
169.0
140.1
148.8
151.2
145.3
150.5
NA
167.3
0.7
-0.5
NA
-0.5
5.7
1.6
0.5
-2.6
-2.3
-3.9
69
76
86
1,249
99.8
1,399
109.9
2.1
14.6
12.0
10.1
-20.7
-15.1
-7.3
-16.6
-20.9
-21.3
28
29
89
-1 .1
2.3
30
80.73
16.78
63.43
90.34
22.20
76.66
86.02
23.28
76.66
90.91
29.50
84.09
68.94
25.76
87.71
153.82 1 7 7 . 0 9 186.95 191.36 193.89
A.r., thous. .
1967=100...
A.r., bil. dol.
2,020
145.4
60.1
1,744
123.8
56.7
1,593
108.0
55.8
1,263
91.7
51.7
1,053
72.5
40.7
L LL
do. . . .
14.1
9.7
1.4
0.3
2.6
L,L,L
L,L,L
L,L,L
do. . . .
do. . . .
Bil. dol
19.02
43.2
2.05
10.62
46.4
2.56
L,L,L
L,L,L
L,L,L
71.19
1,223
87.1
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
Lg,Lg,Lg Bil. dol., EOP
do. . . .
Lg,Lg,Lg
do. . . .
Lg,Lg,Lg
Lg,Lg,Lg Ratio
- 8 . 7 5 -12.15 -14.23
43.7
30.8
14.8
1.37
-1.84
-2.32
NA
NA
NA
-2.08
28.9
3 .69
NA
NA
NA
-3.45
15.3
-0.01
2.21
-18.3
-3.92
36
31
38
380.64 427.04 427.04 439.32 447.03 4 4 7 . 0 3 450.67
249.59 257.32 257.32 256.88 257.50 2 5 7 . 5 0 2 5 8 . 4 8
63.88
70.53
70.53
77.00
73.94
76.61
76.61
NA
NA
NA
0.8
0 .4
0.5
NA
NA
NA
2.9
-0.2
4.8
1.8
0.2
3.6
71
70
65
1.71
NA
-0.03
NA
0.
168.52 199.20 199.20 2 0 5 . 4 3 1 9 9 . 9 0 1 9 9 . 9 0 2 0 1 . 2 7
NA
0.7
NA
1.57
L,Lg,Lg Bil. dol., EOP
1.60
-7.51 -10.96
33.8
49.1
2.09
2.08
1.62
1.62
1.74
1.74
3.1
0.12
77
-2.7
78
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...
1.23
231.0
1.12
292.1
0.73
3.8
0.85
5.2
0.09
3.7
-2.33
-11.3
92
23
Stock Prices:
*19. Stock prices, 500 common stocks®
L,L,L
1941-43=10.
9 6 . 0 2 103.01 105.30 110.30 1 0 8 . 4 0 114.55 119.83 1 2 3 . 5 0
4.6
3.1
4.7
-1.7
19
Profits and Profit Margins:
1 6. Corporate profits after taxes
18. Corp. prof its after taxes, 1972 dollars . . .
79. Corp. profits after taxes, with I VA and CCA . .
80
do
in 1972 dol. ...
1 5. Profits (after taxes) per dol. of sales, mfg.2 . . .
26. Ratio, price to unit labor cost, nonfarm bus
L,L,L
L,L,L
L,C,L
L,C,L
L,L,L
L,L,L
A.r., bil. dol.
do. . . .
do. . . .
do. . . .
Cents
1967=100...
121.5
78.5
83.1
54.2
5.4
95.6
144.1
85.7
85.6
51.6
5.7
94.3
146.9
84.7
80.3
46.9
5.4
94.0
158.0
88.8
72.6
41.4
5.6
93.6
127.1
69.9
75.2
41.7
4.4
93.5
7.6
4 .8
-9.6
-11.7
0 .2
-0.4
-19.6
-21.3
3.6
0.7
-1.2
-0.1
16
18
79
80
15
26
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.
194 .1
121.5
222.3
128.8
227.7
127.5
238.8
131.3
207.8
111.7
4 .9
3 .0
-13.0
-14.9
34
35
Lg,Lg,Lg 1967-100...
194.0
214.0
221.1
227.5
235.1
2.9
3.3
63
lg,Lg,Lg Dollars
Lg,Lg,Lg 1967=100...
1.020
164.1
1.115
175.0
1.152
179.5
1.182
185.0
1.220
194.3
2 .6
3.1
3.2
5.0
68
62
75.7
75.8
76.0
76.4
77.4
0.4
1.0
64
0.05
0.10
-0.14
-2.4
-2.1
-0.43
0.10
0.02
-3.7
-1.8
85
102
104
105
106
0.070
0.010
0.040
-0.003
107
108
-2 .69
49.85
3 4 . 2 1 -41.38
55.94
-3.36
11.2
-55.6
33
112
113
110
Unit Labor Costs and Labor Share:
63. Unit labor cost, private business sector
68. Labor cost (cur. dol.) per unit of gross
domestic product ( 1 972), nonfin, corp
*62. Labor cost per unit of output, mfg
64. Compensation of employees as percent of
national income2
Lg,Lg,Lg Percent
2.08
293.0
2.42
307.1
2.51
318.5
0.18
282.6
-0.46
267.5
197.6
0.27
277.6
200.4
202.3
1.4
0.9
B7. Money and Credit
Money:
85. Change in money supply (M1-B)2
102. Change in money supply (M2)2
*104. Chg. in total liquid assets (smoothed6.)2
105. Money supply (M1-B), 1972 dollars
*106. Money supply (M2), 1972 dollars
L,L,L
L,C,U
L,L,L
L,L,L
L,L,L
Percent. . . .
do
do
Bil. dol
do. . . .
0.66
0.67
0.97
222.5
864.4
0.60
0.71
0.95
215.6
846.2
0.36
0.50
0.79
211.4
834.0
0.41
0.60
0.65
206.3
816.5
-0.02
0.70
0.67
198.6
801.5
1.22
1.51
0.61
198.2
804.1
0.92
1.51
0.64
200.0
816.2
1.80
1.13
0.76
202.3
819.8
-0.30
0.
0.03
0.9
1.5
Velocity of Money:
107. Ratio, GNP to money supply (M1-B)2
108. Ratio, pers. income to money supply (M2) 2 ..
C,C,C
C,Lg,C
Ratio
6.125
1.273
6.330
1.310
6.390
1.322
6.460
1.332
6.500
1.329
1.318
1.318
1.313
0.
Credit
33
112
113.
1 10.
L,L,L
L LL
L,L,L
L,L,L
A.r., bil. dol.
do
do
i
do. . . .
40.93
13.28
-7.31
NA
30.96
NA
33.06
11.14
34.25
Flows:
Change in mortgage debt2
Change in business loans2
Change in consumer installment debt2
Total private borrowing
do. . . .
86.19
90.83
77.47
74.78
24.93
7.87
14.27
22.88
2.14
-4.28
2 9 . 9 3 -11.45
44.35
35.50
23.77
2 0 . 4 1 - 3 5 . 5 3 -41.56
3 4 6 . 6 3 3 5 6 . 9 8 3 0 9 . 7 5 344 .39 152.86
0.88
-0.38
0.12
1.2
0.4
-0.005
NA
17.68
NA
Basic data1
Timing
classification3
of
measure
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. do!
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. . . .
Series title
Pwc.H!»t change
Average
1978
1979
4th Q
1979
IstQ
1980
2dQ
1980
June
1980
July
1980
Aug.
1980
June
to
July
1980
July
to
Aug.
1980
4th Q
to
IstQ
1980
IstQ
to
2dQ
1980
Series number
1
Table 1. Summary of Recent Data and Current Changes for Principal Indicators —Continued
I. CYCLICAL INDICATORS-Con.
B7. Money and Credit-Con.
Interest Rates:
119. Federal funds rate 2 ®
114. Treasury bill rate 2 ®
115. Treasury bond yields 2 ®
116. Corporate bond yields 2 ®
117. Municipal bond yields2®
118. Mortgage yields, residential 2 ®
67. Bank rates on short-term bus. loans2®
*109. Average prime rate charged by banks 2 ®
L,Lg,Lg Percent
do.
C,Lg,Lg
do.
C,Lg,Lg
do.
Lg,Lg,Lg
do.
U,Lg,Lg
do.
Lg,Lg,Lg
do.
Lg,Lg,Lg
do.
Lg.Lg.Lg
...
...
...
...
...
..:
...
Outstanding Debt:
66. Consumer installment debt5
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
221.33
2.45
2 2 2 . 2 8 2 3 9 . 3 6 2 3 6 . 0 6 415.33 4 3 6 . 6 9 4 4 5 . 6 9
2.74
NA
2.53
2.74
2.64
2 .64
NA
NA
-2 .1
NA
NA
NA
1 .4
0.11
-75.9
-0.21
1
3
-679 -1,131 -1,527 -1,715 -1,070
1,907
1,279
872
1,338
1,800
-114
365
28
390
-356
687
-142
25
384
297
188
107
-645
-628
9
9
12.69
10.05
10.02
12.03
7.95
12.43
17.75
16.32
9.47
7.00
9.40
11.12
7.63
11.85
9.03
8.13
9.83
11.48
8.13
12.39
9.61
9.26
10.53
12.31
8.67
13 .54
-0.44
1.13
0.43
0.36
0.50
0 .54
0.58
1.13
0.70
0.83
0.54
1.15
12.63
11.48
11.12
-1.15
-0.36
1.47
1.66
1.54
1.66
1.03
NA
-0.14
1.32
-2.36
-3.41
-1.13
-0.96
-0.28
NA
2.08
-0.08
11
11
11
11
11
11
6
10
2 6 7 . 6 3 303.13 303.13 3 0 8 . 2 4 2 9 9 . 3 5 2 9 9 . 3 5 2 9 8 . 7 4
NA
-0.2
NA
1 .7
-2.9
6
159.21 1 6 0 . 3 2 1 6 2 . 9 0
NA
14.32
14.08
0.7
-0.24
1.6
NA
4.0
-0.14
-0.6
-0.34
7
9
7.94
7.22
7.89
8.98
6.02
9.75
9.80
9.06
11.20
10.04
8.74
10.05
6.52
10.89
13.18
12.67
13.58
11.80
9.61
11.33
7.20
NA
15.81
15.08
15.05
13.46
11.15
12.99
8.23
NA
15.67
16.40
126.31 1 4 7 . 0 6 154.92 161.16
14.90
14.34
14.99
15.04
160 .17
14.56
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
. ,
1972=100...
1967=100...
Percent
1967=100...
152.0
195.4
0.7
211.4
165.5
217.4
1.0
234 .5
170.6
227.6
1.1
242 .0
174.5
236.5
1.4
245.5
179.0
245.0
0.9
249.4
247.6
1.0
250.5
247.8
0.
252.9
249.4
0.7
257.5
0.1
-1.0
1.0
0.6
0.7
1.8
2 .3
3.9
0.3
1.4
2.6
3.6
-0.5
1.6
31
32
32
32
do.
do.
do.
do.
do.
...
...
. ..
...
...
209.3
240.2
215.5
199.1
192.6
235.6
282.2
242.8
216.7
215.7
247.5
298.2
257.5
223.0
227.5
259.0
302.6
271.3
230.1
237.5
263.9
293.2
275.4
236.8
242.5
265.2
295.1
277.1
238.1
243 .8
269.8
313 .6
279.3
241.3
248.2
273.1
331.6
282.1
243.5
252.7
1.7
6.3
0.8
1.3
1.8
1.2
5.7
1.0
0.9
1.8
4.6
1.5
5.4
3.2
4.4
1.9
-3.1
1.5
2.9
2.1
33
33
33
33
33
do. . . .
212.9
229.8
237.2
242.6
248.5
250.9
251.7
253 .1
0.3
0.6
2.3
2.4
34
do.
do.
do.
do.
109.0
226.9
116.1
119.3
105.6
247.1
113.7
118.3
104.0
254.6
111.7
117.7
102.3
261.1
110.1
117.7
101.4
267.8
109.4
117.1
101.5
101.8
101.7
0.3
-0.1
-1.6
2 .6
-1 .4
0.
-0.9
2.6
-0.6
-0.5
34
34
34
37
100.42 102.91 103.75 104.19 104.70 104.54 105.20 105.02
96.89
96.54
97.01
97.80
97 .00
96.94
97.66
94.37
8,019
5,963
6,084
6,390
7,808
8,006
8,207
6,047
3,542
3,682
2,252
3,710
3,730
2,223
2,593
2,318
2,600
2,702
2,236
2,213
2,271
2,596
2,628
2,235
1,666
1,774
1,709
1,700
1,559
1,531 1,526
1,528
0.6
0.5
2.5
0.5
4.1
4.4
-0.2
0.
-2.3
-1.3
-2.7
-3.7
0.4
0 .1
5.0
11.9
1.6
-0.3
0.5
-0.9
22.2
36 .6
14.5
9.2
44
44
3
44
44
44
0.1
0.3
0.9
0.
0.1
-2.2
-0.1
0.2
-0.6
0.1
0.2
-0.7
45
45
45
2 .6
3 .9
-7.2
1 .8
2.2
-1.2
-1.6
3.2
-26.3
-0.6
0.9
-5.1
50
50
50
51
51
51
82. 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
...
...
...
...
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 age2
Percent
do. . . .
do. . . .
79.8
49.6
58.0
79.8
50.6
58.1
79.6
51.0
58.2
79.5
51.2
57.6
79.6
51.4
56.9
A.r., bil.dol.
do. ...
do. . . .
do. . . .
do. . . .
do. . . .
432.1
459.8
-27.7
331.0
303.6
27.4
497.6
509.0
-11.4
354.6
330.0
24.6
524.7
540.4
-15.7
368.7
342.9
25.8
538.4
561.3
-22.9
375.3
350.6
24.6
529.9
579.1
-49.2
373.2
353.6
19.5
79.4
51.3
56.5
79.5
51.6
57.4
79.5
51.7
55.2
D. Government Activities
D1. Receipts and Expenditures
501 . Federal Government receipts
502. Federal Government expenditures
500. Federal Government surplus or deficit 2
51 1 . State and local government receipts
512. State and local government expenditures . . . .
510 State and local govt. surplus or deficit 2
D2. Defense Indicators
517.
525
548
564
Defense Department obligations
Military prime contract awards
New orders defense products
National defense purchases
MiL dol
do. . . .
do. ...
A.r., bil.dol.
10,360 11,132
5,157
5,356
3,467
3,284
99.0
108.3
11,325 13,246 13,346 12,193 12,973
7,413
7,184
NA
6,149
5,159
3,875
4,591 3 , 5 4 6
4,366
3,623
119.6
124.1
114.6
NA
NA
3,941
6.4
NA
23.1
NA
NA
-9.7
17.0
19.2
7.0
4 .4
0.8
20.6
18.5
3.8
51
52
54
56
Mil.dol.
do.
do.
do.
do.
do.
11,955 15,136 16,783 1 7 , 7 0 5 18,263 1 8 , 6 4 2 1 8 , 0 7 5
2,483
2,896
3,430
3,131 3 , 0 2 4
3,300
3,368
3 , 2 2 1 3,391 3,711 3 , 9 4 3
3,985
2,500
3,009
14,333 17,195 19,083 2 1 , 0 6 4 19,910 19,893 18,995
6,782
4,676
6,611
5,153
3,278
5,968
6,329
1,725
1,853
1,965
2,103
1,887
1,851 1,843
NA
3,682
4,230
NA
NA
NA
-3.0
9.1
1.1
-4.5
-22.1
14.1
NA
11.6
6.1
NA
NA
NA
5.5
1.8
5.3
10.4
13.6
4.1
3.2
-8.7
9.4
-5.5
-6.7
-5.8
60
60
60
61
61
61
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
...
...
. ..
. ..
...
...
Table 1. Summary of Recent Data and Current Changes for Principal Indicators—Continued
Basic data1
Series title
Unit
of
measure
Percent change
Average
1st 0
2dQ
3dQ
4th Q
IstQ
2dQ
1979
1979
1979
1979
1980
1980
1977
1978
1979
30,204
37,922
-7,718
8,147
3,650
46,177
48,543
-2,366
35,514
43,953
-8,440
10,743
5,518
55,260
57,560
-2,301
45,514
52,881
-7,367
16,492
8,365
71,627
70,408
1,220
41,805
46,919
-5,114
14,263
7,225
65,667
62,935
2,732
42,815
50,885
-8,070
15,250
7,980
67,763
67,873
A.r., bil.dol
do
do
do
do ....
A.r., dollars
do
1340.5
1899.5
1327.4
1305.1
929.5
6,180
4,285
1399.2
2127.6
1385.1
1458.4
972.6
6,401
4,449
1431.6
2368.8
1421.9
1624.3
994.8
6,494
4,512
1430.6
2292.1
1418.4
1572.2
996.6
6,512
4,536
1422.3
2329.8
1404.1
1601.7
993.0
6,460
4,510
A.r bil dol
do
do
do
do
do
do
do
924 .5 921.8
915.0
935.4
9 3 6 . 5 910.8
861.7
900.8
925.9
138.2 146.7
127.4
147.1 150.2
144.8
146.9
146.7
145.4
344.1
332.7
3 4 3 . 3 349.1
354.1
348.1
349.2 355.1
347 .8
390.8
410.8
428.3 423.5
426.1
429.9
433.6 437.0 435.6
1210.0 1350.8 1509.8 1454.2 1475.9 1528.6 1580.4 1629.5 1626.6
178.8
195.7
2 0 0 . 3 213.0
213.8
208.7
216.2
220.2
213.4
481.3
530.6 596.9
571.1
581.2
654.1
604.7 630.7
652.0
5 4 9 . 8 619.8
669.3
699.8
686.0
710.6
733.5 757.3
776.9
o3
3dQ
to
4th Q
4th Q
to
IstQ
IstQ
to
2dQ
1979
1980
1980
|
c
S
£
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 exports
Merchandise imports
Merchandise trade balance2
Income on U S investments abroad
Income on foreign investment in the U.S. .....
Exports of goods and services
Imports of goods and services
Balance on goods and services2
Mil. dol
do
do
do
do
do
do
. ...do
-110
47,198
54,258
-7,060
18,050
8,731
74,773
72,267
2,506
50,237
59,462
-9,225
18,407
9,524
78,305
78,555
1433.3
2396.5
1426.2
1640.0
993.4
6,494
4,501
1440.3
2456.9
1439.0
1683.1
996.2
6,509
4,502
-250
54,708
65,583
•10,875
20,846
10,752
85,647
86,470
-823
0.
6.4
8.9
54,710
62,353
9.6
10.3
- 7 , 6 4 3 -2,165 -1,650
16,772
2.0
13.3
9.1
12.9
10,417
81,522
4.7
9.4
82,780
8.7
10.1
-1,258 - 2 , 7 5 6
-573
-4.9
3,232
-19.5
-3.1
-4.8
-4.3
-435
618
620
622
651
652
668
669
667
A. National Income and Product
A1. GNPand Personal Income
50.
200
213.
224.
225
217
227
GNPin 1972 dollars
GNPin current dollars
Final sales, 1972 dollars
Disposable personal income, current dollars ...
Disposable personal income, 1972 dollars
Per capita GNPin 1972 dollars
Per capita disposable pers income 1972 dol
1444.7
2520.8
1444.4
1737.4
998.5
6,514
4,502
1408.6
2521.3
1406.0
1755.9
983.1
6,337
4,423
0.5
2 .5
0.9
2.6
0.3
0.2
0.
0.3
2.6
0.4
3.2
0 .2
0.1
0.
-2.5
0.
-2.7
1.1
-1.5
-2.7
-1 .8
50
200
213
224
225
217
227
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
1.0
-0.1
1.7
0.9
3.4
1.3
4.3
3.2
0.1
-2.7
-12.4
-0.9
-0.3
-1.8
-0.3
-0.2
0.8
3.1
1.9
3.4
3.2
-11.1
0.3
2.6
231
233
238
239
230
232
236
237
A3. Gross Private Domestic Investment
241
243
30
240
242.
245.
do
do
do
do
do
do
Total 1972 dollars
Total fixed investment 1972 dollars
Change in business inventories 1972 dol 2
Total current dollars
Total fixed investment, current dollars
Chg. in bus. inventories, current dol.2
200.1
186.9
214.3
200.2
13.1
14.1
303.3
281.3
351.5
329.1
215.2
205.5
9.7
387.2
369.0
217.2
204.9
12.3
18.1
373.8
354.6
395.4
361.9
214.2
207.1
7.1
392.3
377.8
14.5
221.7
203.5
207.7
206.3
1.4
387.2
381.7
5.6
203.2
202.9
0.3
387.7
383.0
4.7
188.6
186.0
2 .6
368.5
357.1
-3.0
-0.4
-5.7
-1.3
11.4
-8.9
280.0
104.3
175.7
517.2
186.2
331.0
280.9
106 .7
174.3
528.3
193.3
335.0
1.5
3.8
0.2
4.9
9.5
2.5
128.3
1.7
2.0
0.
4.9
8.5
21.9
22.3
18.2
19.1
33.4
do
do
do
do
do
do
268.5
100.6
167.9
396.2
144.4
251.8
273.2
274.3
273.1
99.4
98.1
97.4
174.6
435.6
152.6
283.0
174.9
476.4
166.6
309.8
274.7
101.1
173.6
460.1
163.6
296.5
272.4
98.6
174.3
466.6
161.7
304 .9
175.6
477.8
162.9
314.9
277.1
101.1
176.0
501.2
178.4
322.8
do
do
do
do
do
do
98.4
108.9
119.9
102.3
117.0
100.0
116.0
102.9
122.2
102.1
124.3
104.1
131.7
106.7
17.6
17.0
13.2
20.1
20.1
25.0
238.5
234 .4
4.0
243.7
251.9
267.3
269.5
280.4
292.4
-11.9
308.1
321.7
-13.6
1.0
-7.2
-8.3
-2.2
-1.6
-1.1
2.3
0.1
0.3
-5.0
-6.8
6.7
-0.9
241
243
30
240
242
245
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
State and local governments, current dollars . . .
0.3
2.3
1.0
3.2
-0.2
-0.8
2 .1
3.8
1.2
3.2
4.4
2.5
261
263
267
260
262
266
A5. Foreign Trade
256.
257.
255.
252.
253.
250.
Exports of goods and services, 1972 dollars . . .
Imports of goods and services, 1972 dollars ...
Net exports of goods and serv., 1972 dol.2 . . . .
Exports of goods and services, current dol
Imports of goods and services, currentdol
Net exports of goods and serv., current dot.2 . .
88. 2
10.3
175.9
185.8
-9.9
97.9
11.0
207.2
217.5
-10.3
257.5
262.1
-4.6
-8.1
-2.3
99.9
28.3
307.0
309.2
-2.2
-9.6
6.0
2.5
4 .9
9.9
-2.6
-6.4
3.3
-0.4
-3.9
11.4
10.0
-1.7
256
257
255
252
253
250
A6. National Income and Its Components
220.
280.
282.
286.
284.
288
National income
Compensation of employees
Proprietors' income with IVA and 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 deficit2
Personal saving rate2
do
do
do
do
do
do
1525.8 1724.3 1924.8 1869.0 1897.9 1941.9 1990.4 2 0 3 5 . 4 2 0 2 4 . 6
1156.9 1304.5 1459.2 1411.2 1439.7 1472.8 1513.2 1555.2 1567.2
100.2
129.0
116.8
130.8
129.3 130.3
130.0
120.5
134.5
150.0
167.7
178.2
178.9
152.8
176.6
180.8
176.4
175.0
2.5
2 .7
3.2
-2.4
1.5
5.9
24.7
94.0
25.9
26.9
27.3
26.8
26.6
27.0
27.0
27.3
109.5
129.7
122.6
125.6
131.5
139.2
148.1
156.8
276.1
230.7
324.6
253.0
363.9
275.9
362.2
266.0
374.3
274.6
367.3
281.9
351.9
281.0
346.6
279.2
345.5
287.6
-4.2
-0.3
65.0
72.0
-0.3
73.8
13.2
79.2
15.8
85.9
12.7
70.3
14.0
64.4
86.3
-15.1
-29.6
4.9
-4.0
-0.8
2.3
2.8
-3.3
-0.8
0.
6.4
-0.5
0.8
-7.3
-12.7
1.1
5.9
220
280
282
286
284
288
A7. Saving
do
do
do
do
Percent
-19.5
5.0
4.9
4.5
5.0
5.4
4.3
59.7
10.0
3.5
1.7
3.7
-0.3
-1.5
-0.6
3.0
7.9
-8.3
0.2
34.0
-31.3
1.2
NUI h: beries are seasonally
mally adjusted
adjusted except tor those indicated by <B>,
<§), which appear to contain no seasonal movement. Series indicated by an asterisk (*)
(*) are included in tlthe major composite indexes. Dollar values are in
aruuico cnorifioH
finrinHinn composition
nnmnneitmn noff tho
urrent dollars unless otherwise
specified. Pnr
For mmnioto
complete corioc
series titioc
titles (including
the nnmnnejta
composite inHovo^
indexes) ™A
and ™.
sources,
see"Titles
'Titles and Sources of Series" at the back
ba of BCD. NA = not available, a = anticipated.
jrceSi see
:OP = end of period. A.r. = annual rate. S/A = seasonally adjusted (used for special emphasis). IVA = inventory valuation adjustment. CCA = capital consumption adjustment.
t. NIA = 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 availilable.
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 »«sj 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.
290
295
292
298
293
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, 106)
920. Index of four roughly coincident indicators (series 41, 47, 51, 57)
930. Index of six lagging indicators (series 62, 70, 72, 91, 95, 109)
Digitized forNOTE:
FRASER
Numbers entered on the chart indicate length of leads (-)
Current data for these series are shown on page 60.
and lags ( + ) in months from reference turning dates.
COMPOSITE INDEXES AND THEIR COMPONENTS—Continued
Chart Al. Composite Indexes—Continued
(Aug.)iApr,'
(Nov.) ( O c t . )
F
T
P
( N o v ) (Mar.)
P
T
911 Marginal employment adjustments (series 1, 2, 3, 5)
-10
914. Capital investment commitments (series 12, 20, 29)
-13
T
Index: 1967=100
120-
-8
2L
11010090-
120-
915. Inventory investment and purchasing (series 8, 32, 36, 92)
11010090110
-12
100
-11
90
916 Profitabilitv ^series 19 26 80)
160 •
150 140 130 •
917. Money and financial flows (series 104, 106, 110)
f
940. Ratio, coincident index to lagging index
1948 49 50
51 52 53 54 55 56
NOTE: Numbers entered on the chart indicate length
Current data for these series are shown on page 60.
57 58 59 60
61 62 63
64 65 66 67 68
69
70 71 72 73 74 75 76 77 78 79 1980
of leads (-) and lags (+) in months from reference turning dates.
11
COMPOSITE INDEXES AND THEIR COMPONENTS—Continued
Chart A2. Leading Index Components
1. Average workweek, production workers,
3. Layoff rate, manufacturing (per 100 employees—inverted scale)
8. New orders for consumer goods and materials, 1972 dollars (bil. dol.)
32. Vendor performance, percent of companies reporting slower deliveries (percent)
Ul
12. Net business formation (index: 1967=100)
20. Contracts and orders for plant and equipment,
1972 dollars (bil. dol.) [7771
I L>L>LI
Digitized Current
for FRASER
data for these series are shown on pages 61,
64, 65, and 66.
COMPOSITE INDEXES AND THEIR COMPONENTS—Continued
Chart A2. Leading Index Components—Continued
_29. New iwildifipeiTn|^jriyate^ho
36. Net change in inventories on hand and on order, 1972 dollars, smoothed1 (ann. rate, bil. dol.)
92. Change in sensitive prices, smoothed1 (percent)
LL.L
104. Change in total liquid assets, smoothed1 (percent) | L,L,l|
19. Stock prices, 500 common stocks
(index: 1941-43=10)
EMI
106. Money supply-M2-in
LIE
1
This series is a weighted 4-term moving average (with weights 1,2,2,1) placed on the terminal month of the span.
68, 69, and 71.
Current data for these series are shown on pages 67,
CYCLICAL INDICATORS
A
I
COMPOSITE INDEXES AND THEIR COMPONENTS—Continued
1
Chart A3. Coincident Index Components
(Dec.) ; N o v , )
P
T
(Nov.) (Mar ;
T
P
41. Employees on nonagricuitural payrolls (miliions)
51. Personal income less transfer payments.
57. Manufacturing and trade sales, 1972 dollars (bil. dol.)
1948 49
50
51
52
53
54
55
56
57
58
Current data for these series are shown on pages 62, 63, and 65.
http://fraser.stlouisfed.org/
Federal Reserve
Bank of St. Louis
14
59
60
61
62
63
64
65
66
67
68
69
70
71
72
73
74
75
76
77
78
79 1980
A
COMPOSITE INDEXES AND THEIR COMPONENTS—Continued
Chart A4. Lagging Index Components
Current data for these series are shown
9L Average duration of unemployment (weeks-inverted
70. Manufacturing and trade inventories, 1972 dollars (bil. dol.)
62. Labor cost per unit of output, manufacturing (index: 1967=100)
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
I Marginal Employment Adjustments]
1. Average workweek, production markers, manufacturing (hours)
21. Average weekly overtime hours, production workers, manufacturing (hours)
2. Accession rate, manufacturing (per 100 employees)
A.
4-
5. Average weekly initial claims, State unemployment insurance (thousands—inverted scale)
200-
300-
700-
3. Layoff rate, manufacturing (per 100 employees—inverted safe)
234-
4. Quit rate, manufacturing (per 100 employees)
3-!
1956
57
58
59
60
61
62
63
Current
data for these series are shown on page 61.
64
65
66
67
68
69
70
71
72
73
74
75
76
77
78
79
80
1981
B
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued
Chart Bl. Employment and Unemployment—Continued
| Job Vacancies |
1.4-
GO. Ratio, help-wanted advertising to number
of persons unemployed (ratio)
1.0-
Z
0.6™
0.2-
ZUU
46. Help-wanted advertising Cm** 1967=100)
FT Ulll
s V
V^s-
/
175
l
^~^\
;
S
~\
\^
150
^
8
\r^
125
100
7S
180-1
170-
| Comprehensive Employment |
160«
48. Employee-hours in nonagricultural establishments
(ann. rate, bil. hours)
150-
100'
9590-
42. Persons engaged in nonagricultural activities (millions)
8580'
41. Employees on nonagricultural payrolls (millions)
6528
27
26
25
24
23
22-
1956
V
57
58
40. Employees in goods-fyodudng industnes—mining,
manufacturing, construction (millions)
2120-
59
60
61
62
63
64
65
66
67
68
69
70
71
72
73
74
75
76
77
78
79
80
1981
Current data for these series are shown on pages 61 and 62.
17
B
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued
Chart Bl. Employment and Unemployment—Continued
[Comprehensive Employment-Con.|
90. Ratio, civilian employment to total population of working age (percent)
| Comprehensive Unemployment]
37. Number unemployed, total (millions—inverted scale)
43. Unemployment rate, total (percent—inverted scale)
45. Average weekly insured unemployment rate (percent—inverted scale)
91. Average duration of unemployment (weeks—inverted scale)
44. Unemployment rate, persons unemployed 15 weeks and over (percent—inverted scale)
Current data for these series are shown on page 62.
http://fraser.stlouisfed.org/
Federal Reserve18
Bank of St. Louis
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued
Chart B2. Production and Income
1600 *•
1500-
|Comprehensive Output and Income]
1400 -
50. GNP in 1972 dollars,' Q (ann. rate, bil. dot.)
13001200 -
11001000900 -
8001300*
12001100-
52. Personal income in 1972 dollars (ana rate, bil. dd)
1000 900 -
800700 -
51. Personal income less transfer payments in 1972t dollars
(ann. rate, bil. dol.)
fc^c]
53. Wages and salaries in mining, manufacturing, and
construction in 1972 dollars (ann. rate, bil. dol.)
1956
57
58
59
Digitized for
60
61
62
63
64
65
66
67
68
69
73
74
?5
76
77
78
79
80
1981
Current data for these series are shown on page 63.
FRASER
10
B
I
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued
Chart B2. Production and Income—Continued
I Industrial Production]
47. Industrial production, totalI (index: 1967=100)^
|C,C,C|
74. Industrial production, nondurable manufactures
(index: 1967=100)
N.
73. Industrial production, durable manufactures
(index: 1967=100)
49. Value of goods output in 1972 dollars, Q
(ann. rate, bil. doL) ™
[Capacity Utilization]
data for these series are
Digitized for Current
FRASER
http://fraser.stlouisfed.org/
Federal Reserve
9fl Bank of St. Louis
83. Rate of capacity utilization, manufacturing (BEA), Q (percent)
82. Rate of capacity utilization, manufacturing (FRB), Q (percent) h Q
84. Rate of capacity utilization, materials, Q (percent)
shown on pages 63 and 64.
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued
Chart B3. Consumption, Trade, Orders, and Deliveries
| Orders and Deliveries]
6. New orders, durable goods industries,
current dollars (bit. dol.)
fuJI
x
.^f
y
i
-^
\/
./^.
\j^\^- o
jS
7. New orders, durable goods industries, 1972 dollars £J^
(bil. dol.) [YJJ11] X
J
30 J
8. New orders for consumer goods and materials
in 1972 dollars (bil. dol.)
V
25. Change in unfilled orders, durable goods industries
(bil. dol.; MCD moving avg.—4-term) ,
I *->»->»-
TTt
96. Manufacturers' unfilled orders, durable goods industries
(bit. dol.)
32. Vendor performance, percent of companies
reporting slower deliveries (percent) -
Current data for these series are shown on page 64.
21
CYCLICAL INDICATORS
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued
Chart B3. Consumption, Trade, Orders, and Deliveries—Continued
[Consumption and Trade]
56. Manufacturing and trade i
(bil. dol.)
in current dollars—
57. Manufacturing and trade sales
in 1972 dollars (bil. dol.)
75. Industrial production, consumer goods
(index: 1967=100)
clcl ""
54. Sales of retail stores in current dollars (bil.
C,LU
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)
Current data for these series are shown on page 65.
22
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued
Chart B4. Fixed Capital Investment
I Formation of Business Enterprises!
12. Net business formation (index: 1967=100)
[uTI
\
13. New business incorporations (thousands)
11,1,11
-
[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.) h | _ | |
27. Manufacturers' new orders, capital goods industries,
nondefense, in 1972 dollars (bil. dol.) X
\
24. Manufacturers' new orders, capital goods industries,
nondefense, In current dollars (Kl. dol.) ILL jT
—ft- -*••
1" 1 8
-, •
9. Construction contracts, commercial and industrial buildings j
(mil. sq. ft. of floor area; MCD moving avg7-6-term)1'
1
J
If 7
*
This is a copyrighted series used by permission; it may not be reproduced without written permission from McGraw-Hill Information Systems Company, F.W. Dodge Division.
shown on pages 65 and 66.
Current data for these series are
urn
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued
Chart B4. Fixed Capital Investment—Continued
Business Investment Commitments-Con.
11. New capital appropriations, manufacturing, Q (bil. dol.)
97. Backlog of capital appropriations, manufacturing, Q
(bil. dol.)
61. Business expenditures for new plant and equipment, Q
(ann. rate, bil. dol.)
[Business Investment Expenditures]
69. Machinery and equipment sales and business
construction expenditures (ann. rate, bil. dol.)
76. Industrial production, business equipment
(index: 1967=100)
Current data for these series are shown on pages 66 and 67.
http://fraser.stlouisfed.org/
Federal Reserve
24 Bank of St. Louis
B
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued
Chart B4. Fixed Capital Investment—Continued
180-|
[Business Investment Expenditures— Con. |
160 4
Presidential fixed investment in 1972 dollars, Q (ana rate, bil. dol.)
uo-j
88. Producers' durable equipment, Q
[Residential Construction Commitments and Investment]
28. New private housing units started,
iLLLl
29. New building permits, private housing units (index: 1967=100)
dm
9. Residential fixed investnMit total in 1972. dollars,4
(ann. rate, bil. dol.)
Current data for these series are shown on page 67.
http://fraser.stlouisfed.org/
SEPTEMBER
Federal Reserve Bank of St. Louis
1980
25
B
CYCLICAL INDICATORS BY ECONOMIC PROCESS —Continued
Chart B5. Inventories and Inventory Investment
I Inventory investment]
30. Change in business inventories, 1972 dollars, Q (ann. rate, bit. dd)
iLLLl
36. Net change in inventories on hand and on order, 1972 dollars
(ann. rate, bil. do!.; moving avg.—4-term1) [LLL]
7 '
31. Change in book value, manufacturing and trade inventories
(ann. rate, bil. dol.; MCD moving avg.-6-term)
38. Change in stocks of materials and supplies on hand andjn order,
manufacturing (bil. dol.; MCD moving avg.—4-term)T h |_L|
-4h
-I
-I
1
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 68.
http://fraser.stlouisfed.org/
26
Federal Reserve Bank of St. Louis
SEPTEMBER 1980
ItCII
B I
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued
Chart B5. Inventories and Inventory Investment—Continued
•Api.,iTt?!> ;
')< . ) 'Nov :
/I en
I Inventories on Hand and on Order]
-^
^
100
S
W)
71. Book value, manufacturing and trade inventories, .s'
current dollars (bil. dol.)
^^
-^/*
|Lg1lgI|L&|
/
70. Manufacturing and trade inventories, 1972 dollars (HL dol.)
^
LZJ,
?£^ ,
^^^
77. Ratio, deflated inventories tom grffis, rnanufacturin^ i ai^ trade vi
(ratio) 11* la I
~
~"
z.
•H
78. Stocks of materials and supplies on hand and on order,
manufacturing (bil. dol.)
|L,LgfL
J j
Current data for these series are shown on page 68.
http://fraser.stlouisfed.org/
Federal Reserve Bank ofSEPTEMBER
St. Louis
1980
ItCII
27
CYCLICAL INDICATORS
B I
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued
Chart B6. Prices, Costs, and Profits
[Sensitive Commodity Prices
92. Change in sensitive prices (percent; moving avg.—4-term1)
, ;J ill
;i^aujyT
23. Industrial materials prices (index: 1967=100)
19. Stock prices, 500 common stocks (index: 1941-43=10)
16. Corporate profits after taxes, current dollars, Q
(ann. rate, bil. dol.)
[Profits and Profit Margins
18. Corporate profits after taxes, 1972 dollars, Q
(ann. ^JbiLjtoU
profits after taxes with IVA and CCA.
Corporate profits after taxes with IVA and CCA,
current dollars, Q (ann. rate, bil. dol.) rrTT
1
This series is a weighted 4-term moving average (with weights 1,2,2,1) placed on the terminal month of the span.
page 69.
Digitized forCurrent
FRASER
data for these series are shown on
http://fraser.stlouisfed.org/
Federal Reserve
28 Bank of St. Louis
SFPTPMRFR 1Q«n
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued
Chart B6. Prices, Costs, and Profits—Continued
[Profits and Profit Margins—Con.|
22. Ratio, corporate profits (after taxes) to total corporate domestic
income, Q (percent)
31. Ratio, corporate profits (after taxes) with inventory valuation and
capital consumption adjustments to total corporate domestic income,
Q (percent)
[uj.,1.1
15. Profits (after taxes) per dollar of sates, all manufacturing corporations, Q (cents)
26. Ratio, price to unit labor cost, nonfarm business sector, Q (index: 1967=100)
"
[Cash Flows|
35. Net cash flow, corporate, in 1972 dollars, Q
(ann. rate, bil. dol.) | | _ L L |
\
34. Net cash flow, corporate, in current dollars, Q
(ann. rate, bil. dol.) nrm
Current data for these series are shown on pages 69 and 70.
http://fraser.stlouisfed.org/
BCD Bank
SEPTEMBER
Federal Reserve
of St. Louis1980
29
CYCLICAL INDICATORS
BJ
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued
Chart B6. Prices, Costs, and Profits—Continued
(Aug.) (Apr.)
P
(Apr.) (Feb.)
T
P
(Dec.) (Nov.)
T
P
(Nov.)
(Mar.)
P
T
T
260-
[Uniliabor Costs lid; Labor Share!
n
240220200180160140-
63. Unit labor cost private business sector, Q
(index: 1967=100)
IOG-*
THJ
1.31.21
1 •«
1.009- '
68. Labor cost (current dollars) per unit of gross domestic product
(1972 dollars), nonfinancial corporations, Q (dollars)
p R«
/
/
|Lg.Lg,Lg|
220210200190180170160150140-
6Z Labor cost per unit of output, manufacturing (index: 1967=100)
130120-
64. Compensation of employees as a percent of national income, Q (percent)
y
in
807876747270-
1956
57
58
59
60
61
62
63
64
65
66
67
68
69
70
71
72
73
74
75
76
77
78
79
80
1981
Current data for these series are shown on page 70.
30
SEPTEMBER 1980
BCII
CYCLICAL INDICATORS
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued
Chart B7. Money and Credit
(Aug.) (Apr.)
P
T
(Apr,) (Feb.)
P
T
(Dec.) (Nov.)
P
(Nov.)
(Mar.)
P
T
T
+ 1.6-
j$L (Change In money supply Ml-B
(percent; MCD moving avg.-6-term) {
l i ?
.»
I
[I]
+ 1.2+ 0.8-
„ J ll M ii^uM iftSA hfi
+ 0.4-
0.0-0.4-
>', i
-0.8-
10Z Change in money supply M2
(percent; MCD moving av&~64erm) \L&U
+ 1.6-
104. Change in total liquid assets (percent; moving avg.-4-term1)
iLLLl
/ fll
Money supply-Mi-B-in 1972 dollars (bil. dd.)
106. Money supply-M2-in 1972 dollars (ha. dd.)
full
107. Ratio, G N P o money supply Ml-B, Q (ratio)
108. Ratio, personal income to money supply M? (ratkrt
cllc
1956
1
57
58
59
60
61
62
63
64
65
66
67
68
69
70
71
72
This series is a weighted 4-term moving average (with weights 1,2,2,1) placed on the terminal month of the span.
page 71.
Current data for these series are shown on
http://fraser.stlouisfed.org/
Federal Reserve Bank SEPTEMBER
of St. Louis 1980
KCII
73
74
75
76
77
78
79
80 1981
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued
Chart B7. Money and Credit—Continued
[Credit Flows!
Current data for these series are shown on
http://fraser.stlouisfed.org/
Federal Reserve
00 Bank of St. Louis
33. Change in mortgage debt (arm. rate, JMLdoll
tun
112. Change in bank loans to businesses (ana rate, biL dol; ji
MCD moving avg.-6-term)
113. Change in consumer installment debt (ann. rate, bil. dol.)
Eu]
110. Total private borrowing, Q (ann. rate, bil. dol.)
iLLLl
pages 71 and 72.
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued
Chart B7. Money and Credit—Continued
[Credit Difficulties I
14. Current liabilities of business failures (mil. dol.inverted scale; MCD moving avg.-6-term)
39. Delinquency rate, 30 days and over, consumer installment loans
(percent—inverted scale).
I till
[Bank Reserves]
93. Free reserves (bil. dd-inverted scale)
94. Member bank borrowing from
the Federal Reserve (bil. dol.)
data for these series are shown on page
Digitized Current
for FRASER
itrn
72.
CYCLICAL INDICATORS
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued
Chart B7. Money and Credit—Continued
(Aug.) (Apr.)
P
(Apr.) (Feb.)
T
P
T
1817-
Intent Rates!
16-
119. Federal funds rate (percent)
\
114. Treasury bill rate
(percent)
116. Corporate bond yields (percent)
118. Secondary market yields on FHA mortgages (percent)
117. Municipal bond yields (percent)
|U,Lg.lg|
1956
57
58
59
60
61
62
63
64
65
66
67
6H
bl;
70
/I
72
73
74
/3
76
77
78
79
80 1981
Current data for these series are shown on pages 72 and 73.
itri
CYCLICAL INDICATORS
B
I
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Continued
Chart B7. Money and Credit—Continued
(Aug.) (Apr.)
P I
(Nov.)
(Dec.) (Nov.)
\Apr.){Feb.)
P
F
p
T
21-
[Interest Rates—Con/
2019-
109. Average prime rate charged by banks (percent)
[Outstanding Debt)
66. Consumer installment debt (bil. dot)
72. Commercial and industrial loans outstanding, -—
weekly reporting large commercial
^yin^
banks (H, dol.)
/
95. Ratio, consumer instalment debt to personal income (percent)
1956
57
58
59
Digitized for
SO
6.1
62
63
Current data for these series are shown on page 73.
FRASER
urn
64
65
66
67
68
69
70
71
72
73
74
75
76
77
78
79
80
1981
DIFFUSION INDEXES AND RATES OF CHANGE
Chart Cl. Diffusion Indexes
950. Twelve leading indicator components (6-mo. span—, 1-mo. span—)
951. Four roughly coincident indicator components (6-mo. span—, 1-mo. span—)
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—)
96Z Initial claims, State unemployment insurance—51 areas (percent declining; 9-mo. span—, 1-mo. span—)
Current data for these series are
963. Employees on private nonagricuKurai payrolls—172 industries
shown on page 74.
(6-mo. span—-, 1-mo. span—)
DIFFUSION INDEXES AND RATES OF CHANGE—Continued
Chart Cl. Diffusion Indexes—Continued
964. New orders, durable goods industries—35 industries (9-mo. span—, 1-mo. span—)
/
[81
965. Newly approved capital appropriations, deflated-17 industries (4-Q moving avg.-~, 1-Q span •—•)
V
VJ <
*
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—53-82 industries (9-mo. span—, 1-mo. span—)
960. Net profits, manufacturing-about 700 companies1 (4-Q span)
1
This is a copyrighted series used by permission; it may not be reproduced without written permission from Dun & Bradstreet, Inc.
shown on page 75.
data for these series are
Digitized forCurrent
FRASER
itrn
37
CYCLICAL INDICATORS
DIFFUSION INDEXES AND RATES OF CHANGE—Continued
Chart Cl. Diffusion Indexes—Continued
Percent rising
970. Business expenditures for new plant and
equipment—IS industries (1-Q span)
(a) Actual exoenditures
974., Number of employees, .
(a) Actual expenditures
and trade (4-Q span)1
975. Level of inventories, manufacturing and trade (4-Q span)1
(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
.--./••x
973. Net sales, manufacturing and trade (4-Q span)1
1
978. Selling prices, retail trade (4-Q span)1
This is a copyrighted series used by permission; it may not be reproduced without written permission from Dun & Bradstreet, Inc.
of about 1,400 business executives.
Digitized for surveys
FRASER
Current data for these series are shown on page 76.
Dun & Bradstreet diffusion indexes are based on
CYCLICAL INDICATORS
DIFFUSION INDEXES AND RATES OF CHANGE—Continued
Chart C3. Rates of Change
(Aug.) (Apr.)
P
(Apr.) (Feb.)
T
P
(Dec.) (Nov.)
T
P
(Nov.)
(Mar.)
P
T
T
Percent changes at annual rate
910c. Composite index of twelve leading indicators
(series 1, 3, 8, 12, 19, 20,», 32, 36, 92, 104,
A
,^
* \i
920c. Composite index of four roughly coincident indicators
(series 41, 47, 51, 57)
^innti'i /
• ' ry
930c. Composite index of six lagging indicators
(series 62, 70 72, 91, 95, 109)
50c. GNP in constant (1972) dollars (1-Q span)
47c. Index of industrial production
48c. Employee-hours in nonagricultural establishments
W
-*
1
"1
-
I
1
51c. Personal income less transfer j
paymentsJa Ml Joto_ 1
Data for these percent
Digitized for NOTE:
FRASER
were published.
•trn
changes are shown occasionally in appendix C. The "Alphabetical Index—Series Finding Guide" indicates the latest issue in which the data for each series
NATIONAL INCOME AND PRODUCT
Chart Al. GNP and Personal Income
, ——^^^—^z: -wri
__.
^f^
_^~?T
_^_
~7~~~IJ
H
200. GNP in current dollars, Q (ann. ^^^^^^
223. Personal income in current dollars
(ann. rate, bil. dol.)
224. Disposable personal income in current
dollars, Q (ann. rate, bil. dol.)
225.nDfep(Kab!e personal BoOTeTn 197?"""
217. Per capita GNP in 1972 dollars (am. jate,
227. Per capita disposable personal income in
197OollaMT(ann. rate,thous. dol.)
1956
57
58
59
60
61
Current data for these series are shown
http://fraser.stlouisfed.org/
Federal Reserve
yin Bank of St. Louis
62
63
64
65
66
67
68
69
70
71
72
73
74
75
76
77
78
79
80
1981
on pages 63 and 80.
•ft4^Ik
NATIONAL INCOME AND PRODUCT—Continued
Chart A2. Personal Consumption Expenditures
Annual rate, billion dollars (current)
1800-
"M
Personal consumption expenditures—
16001400-
1000900 -
800-
n
230. TotaLQ
?00600-
237. Services, Q
^236. Nondurable goods, Q
Annual rate, billion dollars (1972)
...s*^
233. Durable goods, Q ,
\
M
s^^~\S
^-~-*J
^r^^
1958
57
58
59
60
61
62
63
64
Current data for these series are shown on pages 80 and 81.
65
66
67
J
68
69
70
71
72
73
74
75
76
77
78
79
80
1981
OTHER IMPORTANT ECONOMIC MEASURES
NATIONAL INCOME AND PRODUCT—Continued
Chart A3. Gross Private Domestic Investment
(Aug.) (Apr.)
P
T
(Apr.) (Feb.)
P
T
(Dec.) (Nov.)
P
T
(Nov.)
P
(Mar.)
T
Annual rale, billion dollars (current)
Gross private domestic investment—
Current data for these series are
http://fraser.stlouisfed.org/
Federal Reserve
A9Bank of St. Louis
245. Change in business inventories, 0
Annual rate, billion dollars (1972)
30. Change in business inventories, 0
shown on page 81.
OTHER IMPORTANT ECONOMIC MEASURES
NATIONAL INCOME AND PRODUCT—Continued
Chart A4. Government Purchases of Goods and Services
(Aug.,) (Apr.)
P I
(Apr.)(Feb;
P I
(Nov}
P
(Mar,)
T
Annual rate, billion dollars (current)
580
540
500
^6j
Government purchases of goods and services—
Current data for these series are
420-
260. Tobl, Q
266. State and local
governments, Q
Annual rate, billion dollars (1972)
261. Total, Q
267. State and local governments, Q
X
263. Federal Government, Q
shown on page 81.
A
NATIONAL INCOME AND PRODUCT—Continued
Chart A5. Foreign Trade
Current data for these series are
Annual rate, billion dollars (current)
252. Exports of goods and services, Q
\
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
shown on page 82.
A
NATIONAL INCOME AND PRODUCT—Continued
Chart A6. National Income and Its Components
Annual rate, billion dollars (current)
[nj
fff]
220. National income, Q
280. Compensation of employees, Q
[nj
286. Corporate profits with inventory valuation and capital consumption adjustments, Q
28Z Proprietors1 income with inventory valuation
and capital consumption adjustments, Q
fnl
288. Net interest Q
284. Rental income of persons with capital
consumption adjustment, Q "v
Current data for these series are shown on page 82.
45
OTHER IMPORTANT ECONOMIC MEASURES
NATIONAL INCOME AND PRODUCT—Continued
Chart A7. Saving
(Aug.)(Apr.)
P
(Apr.) (Feb.)
T
P
T
(Dec.) (Nov.)
P
I
(Nov.!
(Mar.)
P
T
Annual rate, billion dollars (current)
-f-
n
400360320280240-
290. Gross saving (private and government), Q
V
200360320280 «
240-
Current data for these series are shown on pages 82 and 83.
46
itrift
OTHER IMPORTANT ECONOMIC MEASURES
NATIONAL INCOME AND PRODUCT—Continued
Chart A8. Shares of GNP and National Income
(Aug.) (Apr.)
P
T
(Dec.) (Nov.)
P
T
(Apr.) (Feb.)
P
T
(Nov.)
(Mar.)
P
T
Percent
[Pereprt of GNP| K^
235. Personal consumption expenditures, Q
65-
60-1
20-1
288. State and local government purchases
of goods and sen/ices, Q
265. Federal Government purchases of goods and services, Q
248. Nonresidential fixed investment, Q
249. Residential fixed investment, Q
\
^247. Change in business inventories, Q
251. Net exports of goods and services, Q
[Percent of National Incomel
64. Compensation of employees, Q
283. Proprietors' income with inventory valuation
and capital consumption adjustments, Q
Current data for these series are
287. Corporate profits with inventory valuation and
capital consumption adjustments, Q
\
285. Rental income of persons with capital consumption adjustment, Q ^
shown on page 83.
15-
ECONOMIC
PRICES, WAGES, AND PRODUCTIVITY
Chart Bl. Price Movements
[Index: 1972=1001-
200
190
180
170
160
150
140'
130'
1/0
310. Implicit price
311. Fixed-weighted price index,
gross business product, Q-
-ffi
I/O
,60'
IbO140
310c. Implicit price deflator.
GNP (1-Q span)
1 Percent changes at annual rate |
3s:
*
311c. Fixed-weighted price into, gross business
product (1-Q span)
f j
16-month spans |
Producer prices—
no-
330c. All commodities
fT]
Index: 1967=1001"
Producer prices—
335c. Industrial commodities
330.
334c. Finished consumer goods
JH
1969
70
71
72
/3
74
75
76
77
78
Current
data for these series are shown on pages 84, 85, and 86.
79
1980
1969 70
71
72
73
74
75
76
77
78
79
1980
• , i i , ••',/ , : ' • , . ; " . : cUK^^IC
PRICES, WAGES, AND PRODUCTIVITY—Continued
Chart Bl. Price Movements—Continued
Consumer prices—
Percent changes at annual rate
320c. All items (6-month span)
322c. Food (6-month span)
7
Chart B2. Wages and Productivity
Index: 1967=100
345. Average hourly compensation, all employees,
nonfarm business sector, Q (curreril dbl(ars)
340. Average hourly earnings of production workers,
private nonfarm economy (current dollars)1
346. Real average hourly compensation, all employees,
nonfarm business sector, 0
X
341. Real average hourly earnings of production workers,
private nonfarm economy1
59
Digitized
6U
6!
62
63
64
6t»
67
68
69
>U
7i
74
"*5
76
77
78
79
80 1981
Adjusted for overtime (in manufacturing only) and interindustry employment shifts and seasonality.
for FRASER
Current data for these series are shown on pages 84, 87, and 88.
1
/in
OTHER IMPORTANT ECONOMIC MEASURES
PRICES, WAGES, AND PRODUCTIVITY—Continued
Chart B2. Wages and Productivity—Continued
(Aug.) (Apr.)
P
(Apr.) (Feb.)
T
P
(Dec.) (Nov.)
T
P
T
|Wajefe-Con.|
Change in average Jtarty earnings of production
JUIUM
workers, private nonfarm economy1 —
6-month
rate) ;;
o-iiiuimi spans
bpdift (aim,
ydiwL Rjj^
!^^?^%1?
i
II jrfcji . 1 1 '
' ? I iiT''fi1' '' 'ffp
340c. Current-dollar earnings /^
/./-
^^
LiUia
H4^
L JMl.l .1IIJ4 J,
341c. Real earnings
T
Change in average hourly compensation, all employees,
norrfarm business sector, Q—
345c. Current-dollar compensation
6-month spars (ann. rate) j |j ^
—4—
, 1-quarter spans (ann. rate) !
^ 4V
4-quarter spans
346c. Real compensation
1-quarter spans (ann. rate)
Negotiated wage and benefit decisions, all industries—
348. First year average changes, Q (ann. rate)-*349. Average changes over life of.
contract, Q (ann. rate)
| Productivity |
370. Output per hour, all persons,
private business sector, Q
358. Output per hour, all persons, nonfarm business sector, Q
370c. Change in output per hour, private business sector, Q
i-quarterlpans lanr
4-quarter spans V * ^
*
2
'Adjusted for overtime (in manufacturing only) and interindustry employment shifts and seasonality.
One-month percent changes have been multiplied by a constant (12) to make
data table for actual 1-month percent changes.
them comparable to the annualized 6-month changes. See the current
Current data for these series are shown on pages 87 and 88.
OTHER IMPORTANT ECONOMIC MEASURES
LABOR FORCE, EMPLOYMENT, AND UNEMPLOYMENT
Chart Cl. Civilian Labor Force and Major Components
lAug ' Apr t
P
r
110105100-
441. Civilian labor force, total (millions)
442. Total employed (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
446. Both sexes 16-19 years of age
448. Number employed part-time for economic
reasons (millions)
Current data for these series are shown on page
itn
89.
447. Number unemployed, full-time
workers (millions)
9590-
£)
GOVERNMENT ACTIVITIES
Chart Dl. Receipts and Expenditures
Digitized forCurrent
FRASER
data for these series are
Annual rate, billion dollars (current)
50Z Federal Government expenditures, Q
501. Federal Government receipts, Q
500. Federal Government surplus or deficit, Q
511. State and local government receipts, Q
512. State and local government
510. State and local government surplus or deficit, Q
shown on page 90.
GOVERNMENT ACTIVITIES—Continued
Chart D2. Defense Indicators
[Advance Measures of Defense Activity|
data for these series are
Digitized forCurrent
FRASER
517. Defense Department gross obligations incurred
(bil. dol.; MCD moving avg.-6-term)
525. Defense Department military prime contract awards
(bil. dol.; MCD moving avg.-6-term)
543. Defense Department gross unpaid obligations outstanding (bil. dol.)
548. Manufacturers'new orders, defense products
(bil. dol.; MCD moving avg.-6-term)
shown on page 90.
OTHER IMPORTANT ECONOMIC MEASURES
GOVERNMENT ACTIVITIES—Continued
Chart D2. Defense Indicators—Continued
(Aug.) (Apr.)
P
T
(Apr.) (Feb.)
P
T
(Dec.) (Nov.)
P
T
|lnt|ritediate and ftol Measures of Defense Activity]
557. Output of defense and space equipment (index: 1967=100)
559. Manufacturers' inventories, defense products (bil. dol.)
_r
561. Manufacturers' unfilled orders, defense products (bil. dol.)
l£
580. Defense Department net outlays, military functions and military
assistance (bil. dol.; MCD moving avg.—6-tem)
.
_E! : "l1
.4
I
A>L**^^
**
mi
588. Manufacturers' shipmwrts, defense products
(bil. dol.; MCD moving avg.-4-term)
1956
57
58
59
80
61
62
63
Current data for these series are shown on page 91.
64
65
66
67
68
69
70
71
72
73
74
75
76
77
78
79
80
1981
OTHER IMPORTANT ECONOMIC MEASURES
GOVERNMENT ACTIVITIES—Continued
Chart D2. Defense Indicators—Continued
(Aug.) (Apr.)
P
I
(Dec.) (Nov.)
(Apr ; ( f - e b
P
T
P
I
(Nov.)
(Mar.
P
T
I intermediate and Final Measures of Defense Activity-Con. |
570. Employment in defense products industries (millions)
16-
1.4-
Defense Department personnel (millions)—
577. Military, active duty
578. Civilian, direct hire employment
I National Defense Purchases]
564. Federal Government purchases of goods and setvkgsJQLJoa&aaaL
defense, Q (ann. rate, bil. dol.)
565. National defense purchases as a percent of GNP, Q (percent)
1956
5?
58
59
r>0
fai
Current data for these series are shown
http://fraser.stlouisfed.org/
Federal Reserve Bank of CCDTCMQCD
St. Louis
1 QQf\
itr
82
r.
on page 91.
f;8
6/
68
fc9
:0
71
72
73
74
75
78
77
78
79
80
1981
U.S. INTERNATIONAL TRANSACTIONS
Chart El. Merchandise Trade
data for these series are
Digitized forCurrent
FRASER
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.)
\
612. General imports (bil. dol.; MCD moving avg.-4-term)
614. Imports of petroleum and petroleum products (bil. dol.)
616. Imports of automobiles and parts (bil. dol.)
shown on page 92.
U.S. INTERNATIONAL TRANSACTIONS— Continued
Chart E2. Goods and Services Movements
Annual rate, billion dollars
Excess of receipts
Excess of payments
Goods and services—
667. Balance on goods and services, Q
Merchandise, adjusted622. Merchandise trade balance, Q
618. Exports, Q
Investment income—
G&l. Income on U.S. investments abroad,
^852. Income on foreign investments in the U.S., Q
NOTE: Annual totals are shown for the period prior to 1960.
93.
Digitized forCurrent
FRASER
data for these series are shown on page
http://fraser.stlouisfed.org/
Federal Reserve Bank
of St. Louis 1 OQO
CCDTCMDCD
itrit
OTHER IMPORTANT ECONOMIC MEASURES
F I
INTERNATIONAL COMPARISONS
Chart Fl. Industrial Production
(Aug.) (Apr.)
P
( D e c . ) (Nov.)
(Apr.) (Feb.)
T
P
P
T
(Nov.)
(Mar.)
P
T
T
280260240220-
Industrial production—
200-
728. Japan —~,
180-
y
721. OECD European countries
160-
v
m
140-
722. United Kingdom
728. Japan
1956
57
58
59
60
61
62
63
64
65
66
67
68
69
70
71
72
73
74
75
76
77
78
79
80
1981
Current data for these series are shown on page 94.
58
QFPTFMRFR 1 Qftfl
It!
OTHER IMPORTANT ECONOMIC MEASURES
F I
INTERNATIONAL COMPARISONS—Continued
Chart F3. Stock Prices
Chart F2. Consumer Prices
(Dec.) (Nov.)
P
T
(Nov.)
P
(Mar.)
T
(Nov.)
P
(Dec.) (Nov.)
P
T
6-month spans
Percent changes at annual rate
(Mar.)
T
Stock prices—
Consumer prices—
19. United States
140-
'
•M~ ^^"
V
J^
W"
9
w
A
/
^
^^r*™
t~f~^
I ^\
/
A/
120-
1^1
^^Ay^^
100*
so-
450«
400«
35C300250-
200JHfi-
745. West Germany
*~ Vv^V
j- /^^^ ^v
/^W
-vA"^
1969
70
71
72
73
74
75
76
77
Current data for these series are shown on pages 95 and 96.
http://fraser.stlouisfed.org/
CCDTCMDCD
Federal Reserve Bank of St.
Louis
KI:
mon
78
79 1980
1969 70
71
72
73
74
75
rw^-w^^V^..
T
76
77
78
79 1980
140-
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)
(1967=100)
(1967=100)
930. Index of 6
lagging indicators (series
62, 70, 72,
91,95, 109)
(1967=100)
Leading 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)
(1967=100)
(1967=100)
916. Profitability (series
19, 26, 80) *
(1967=100)
917. Money
and financial
flows (series
104,106, 110)
(1967=100)
940. Ratio,
coincident
index to
lagging index 1
(1967=100)
1978
January
February
March
139.1
140.3
140.3
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
April
May
June
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
July
August
September
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
116.0
105.2
105.8
105.8
94.2
95.4
95.4
148.9
149.1
149.9
97.9
97.9
96.6
0)143.6
142,8
143.0
143.0
144.3
145.5
148.1
152.7
155.2
98.7
98.8
0)117.2
116.1
115.7
106.1
106.2
106.7
94.9
94.1
93.5
150.6
0)151.1
150.2
96.6
94.5
93.8
January
February
March . ..
142.6
142.3
143.2
144.8
144.9
D146.6
157.4
158.5
158.4
98.5
98.4
98.0
113.9
113.9
115.5
107.4
108.3
0)108.8
93.2
92.2
92.2
148.6
145.6
144.5
92.0
April
May
June
140.3
141.4
141.6
144.1
145.6
145.0
161 .8
162.5
163.6
94.6
97.3
96.7
113.6
113.3
113.9
107.8
107.3
106.6
92.3
91.7
146.1
146.9
148.4
89.1
89.6
88.6
July
August . . .
September
141.2
140.1
140.1
145.4
145.0
144.9
164.8
166.4
H70.6
96.4
96.0
96.4
113.6
112.9
114.0
106.1
105.7
104.6
91.7
92.0
88.2
87.1
91 .8
148.6
148.3
r!46.2
r84.9
October
November
December ....
137.8
135.6
135.4
145.1
r!45.0
145.3
175.9
r!79.1
r!78.0
96.6
96.1
96.3
112.7
112.0
112.7
103.3
102.3
102.3
90.8
90.3
90.2
r!43.9
H40.4
r!38.2
r81.0
r81 .6
January . . .
February .
March
' 134.9
134.3
131.3
r!45.9
145.2
H43.1
r!78.7
r!81 .0
H90.4
96.3
96.3
94.5
111.9
110.3
108.0
102.7
102.3
rlOl.6
89.9
89.8
137.0
r!38.1
H35.2
r81.6
r80.2
April
May
June
H25.7
rl22.8
124.0
r!40.4
r!37.4
r!36.1
DH96.3
r!83.8
r!68.1
90.3
88.3
89.6
H04.5
H03.3
H04.8
r99.9
r98.2
r97.2
H30.5
r!25.6
r!25.7
r71 .5
r74.8
rSl.O
July ...
August
September
135.8
136.1
164.1
"162. 4
92.1
2
rl06.5
p!07.4
r98,5
p99.3
H28.4
p!30.6
r82.8
p83.8
October
November
December . . .
0)99.1
99.6
98.7
1979
91 .8
91 .4
92.6
82.5
1980
128.6
131 .0
3
p93.1
r88,5
r88.2
r88.8
(NA)
75.2
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.
Series 916 reached
Excludes series 12
Excludes series 57
^Excludes series 70
2
3
60
its
and
for
and
high value (97.2) in August 1977; series 940 reached its high value (106.6) in March 1977.
36 for which data are not yet available.
which data are not yet available.
95 for which data are not yet available.
SEPTEMBER 1980
CYCLICAL INDICATORS
CYCLICAL INDICATORS BY ECONOMIC PROCESS
MAJOR ECONOMIC
PROCESS
BB EMPLOYMENT AND UNEMPLOYMENT
Minor Economic
Process
Timing Class
L, L, L
1. Average
workweek of
production
workers,
manufacturing
Year
and
month
(Hours)
L, L, L
L, C, L
2. Accession
21. Average
weekly overtime rate, manufachours, produc- turing
tion workers,
manufacturing
(Per 100 employees)
(Hours)
L, C, L
L, L, L
5. Average
weekly initial
claims, State
unemployment
insurance1
3. Layoff rate,
manufacturing
(Thous.)
Comprehensive
Employment
Job Vacancies
Marginal Employment Adjustments
L, Lg, U
L, Lg, U
(Per 100 employees)
4. Quit rate,
manufacturing
(Per 100 employees)
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)
1978
January
February
March
3 4
3 7
3 6
4 1
3 9
4 0
338
364
335
1 0
1 0
1 0
1 9
1 9
2 0
0 652
0.680
0.682
138
139
141
159 30
160 83
162 59
0)3 8
3 5
3 5
4 2
4 0
4 0
334
330
341
1 0
1 0
0 9
2 1
2 0
2 1
0 718
0 700
0 741
146
144
147
164 21
164 02
165 04
40 5
An A
3 5
4 0
A 1
4.2
2 1
9 1
2.1
0 712
0 753
0.758
165 27
165 40
3.6
0 9
0 9
E>0.8
1 en
40.5
362
345
328
149
C
152
165.66
9 o
9 9
0)0 828
0.815
0 821
9
n 81 9
fu\
o
|M/ £9 .£
9 i
i\ 0r I-\
n 8nn
0 ?Qn
1 RQ
39 7
40 0
40 5
April
May
June
0)40 9
An A
40 4
July
August
September
0
An R
q c
40.6
3.7
An 6
q 7
fO\/l /i
January
February
March
/in £
An &
/in ao
40.
q 7
4
q 7
A 1
3 . 7/
4
April
May
June
on .oo
oy
2 .y
40.2
/in. i1
40.
3 0
July
August
September
40.1
40. 1
40.1
October
November
December
A 1
4.3
fffn?'}
334
qqA
n Q
0.9
in
2.2
infi ?n
1 61
167.90
161
i fic; 1 68 ?n
1979
October
November
December
....
Q
3 ./ 14
. 0
3.3
3 0
. 0
3.2
4
9
A
.0
. AU
4 .0A
4
A,
.0
3.9
Q
3. y
3.9
q/i/i
qq/i
O
q/17
O . ny
434
T
n
n Q
"I
i.i
2
9
T
2 .U
2
0
0 777
09
0 . 7lOL
1 .9
0.
350
375
I .0n
1 .L
395
390
387
I .4/I
2
1.2
1.9
9
1 .1
~jjc.
A
A
.0
A
.U
1 bo
1
££
1 3D
1 RR
1 RA
1 fi£ A^
1 68 86
i 7A 09
1 67 6n
1 by .4b
1 £A
/] C
i / o . iy
1 R"3
1 7A
•) Q
ICC
•I -t A
O7
1 ^^
1 /O.o/
-i 7f\ 9£
0.790
159
170.49
0)167
158
170.50
7Q1
/O 1
07cq
40.1
40.1
40. 2
3.2
3.3
3. 2
4.1
4.0
3. 9
395
409
A H7
407
1 .2
1 .3
1 O
1 .d
2.0
2.0
I .yn
o
0 1L
0 . 01
40.3
40.1
39.8
3.2
3.0
3.1
3.9
3.9
3.6
404
375
440
1.3
1.3
1.5
1.9
1.9
1.9
0.714
0.713
0.670
154
151
145
0)172.24
172.09
171.57
39.8
39 3
39 i
3.0
2 6
2 4
3.0
3 0
3 3
569
635
617
2.9
3 5
2 9
1 .5
1 .4
1 4
0.500
0.409
0.428
122
112
115
170.49
169.27
r!68 42
39 1
n?Q 6
2 5
n? 8
3 4
nq 7
po. /
11 Q
1 lo
nl 1 Q
p
II o
r!67 . 59
p!68.27
0 7 7 Q
. I/O
0
778
1r Q
-i 7 A
7-3
1 /U./o
171 A 7
1980
January
February
March
April
May
June
July
August
September
....
cqc
n cno
i7
i "3
0 /190
p2 0
nli .J
^
p
r>n A "38
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, 16 and 17.
1
Data exclude Puerto Rico which is included in figures published by the source agency.
http://fraser.stlouisfed.org/
SEPTEMBER 1980
Federal Reserve Bank of St. Louis
61
CYCLICAL INDICATORS
CYCLICAL INDICATORS BY ECONOMIC PROCESS-Con.
MAJOR ECONOMIC
PROCESS
IH EMPLOYMENT AND UNEMPLOYMENT-Con.
Minor Economic
Process
Timing Class
Year
and
month
Comprehensive Unemployment
Comprehensive Employment-Con.
U,C,C
C, C , C
L, C, U
U, Lg,U
L, Lg, U
L, Lg, U
L, Lg, U
Lg, Lg, Lg
Lg, Lg, Lg
42. Persons
engaged in nonagricultural
activities, labor
force survey
41. Employees
on nonagricultural payrolls,
establishment
survey
40. Employees
in goodsproducing industries (mining, mfg., construction)
90. Ratio,
civilian employment to total
population of
working age
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.)
(Thous.)
(Thous.)
(Percent)
(Thous.)
(Percent)
(Percent)
(Weeks)
(Percent)
1978
January
February
March
89,425
89,653
89,813
84,582
84,892
85,396
24,871
24,909
25,085
58.03
58.03
58.09
6,305
6,088
6,153
6.4
6.1
6.2
3.5
3.6
3.5
13.0
12.6
12.4
1.6
1.6
1.5
April
May
June
90,468
90,818
91,141
86,104
86,368
86,746
25,460
25,481
25,599
58.42
58.56
58.76
6,056
6,126
5,902
6.1
6.1
5.9
3.2
3.2
3.2
12.4
12.0
12.1
1.5
1.4
1.3
July
August
September
91,046
91,457
91,598
86,924
87,231
87,419
25,657
25,719
25,801
58.60
58.76
58.78
6,228
5,929
5,971
6.2
5.9
5.9
3.3
3.3
3.2
11.9
11.5
11.5
1.3
1.2
1.3
October
....
November
December
92,024
92,488
92,456
87,790
88,242
88,567
25,965
26,141
26,267
58.95
59.08
59.06
H>5,788
5,882
5,984
5.7
5 8
5 9
3.0
3.0
3.0
11.8
11 1
10 6
1 .3
1 2
1 2
January
February
March
..
92,897
93 189
93 303
88,858
89,109
89,455
26,363
26,377
26,537
59.19
59 33
59 31
5,904
5 883
5 882
5 8
5 7
5 7
3.0
3 0
3 0
11 2
11 3
11 8
1 2
1 2
1 3
April
May
June
93 039
93 249
93 409
89,386
89,708
89,909
26,473
26,522
26,557
59 05
59 1 1
59 13
5 944
5 903
5 824
5 8
5 8
5 7
? Q
fu\ o p
? Q
11 0
10 9
10 5
1 ?
1 2
1 ]
July
August
September
93 9] 7
93 689
94 140
90,054
90,222
90,283
26,582
26 528
26 554
59 37
59 1 9
0)59 42
5 909
6 1 24
5 990
IMS
[n/o5. 7
/
5 9
9 Q
IMMD i
IwM 0
i i
i i
October
November
December
94 180
94 223
94 553
90 441
?fi RRd.
on c e o
oc cpi/l
90 678
?fi
59 27
59 27
59 38
94,534
[0)94,626
91,031
[0)91,186
59.24
59.26
1979
KQfl
O
Q
5 8
0
Q
6 121
6 044
6 087
5 9
5 8
5 9
9 Q
fin
6,425
6,307
6 / 1 -30
107
in?
10 5
106
10 5
1 2
1 i
3.2
3.1
3.3
10.5
10.7
11 .0
1.3
1.2
1 .3
0
1
•3
1
1 2
1980
January
February
March
April
May
June
July
August
September
. .
[0)26,715
26,623
,4oo
6.2
6.0
6. 2
93,912
93,609
93,346
90,951
90,468
r90,047
26,121
25,745
r25,422
58.63
58.47
58.12
7,265
8,154
8,006
7.0
7.8
7.7
3.7
4.3
4.6
11.3
10.5
11.7
1.6
1.6
1.7
93,739
93,826
r89,865
p90,066
r25,142
p25,275
58.29
58.23
8,207
8,019
7.8
7.6
4.5
p4.3
11.6
12.6
1.8
2.1
QZL
9QR
Ql
1 A.A.
f)C
A-JC
CQ
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[0); 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 14, 15, 17, and 18.
*Data exclude Puerto Rico which is included in figures published by the source agency.
62
SEPTEMBER
1980
licit
CYCLICAL INDICATORS
B
CYCLICAL INDICATORS BY ECONOMIC PROCESS —Con.
MAJOR ECONOMIC
PROCESS . . .
Qj PRODUCTION AND INCOME
Minor Economic
Process
Industrial Production
Comprehensive Output and Income
C,C, C
C,C,C
Timing Class
50. Gross national product
in 1972 dollars
Year
and
month
Personal income
223. Current
dollars
(Ann. rate,
bil.dol.)
52. Constant
(1972) dollars
(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.)
(Ann. rate,
bil.dol.)
C, C,C
47. Index of
industrial
production,
total
(1967=100)
Revised1
C,C,C
C, L, L
73. Index of
industrial
production,
durable manufactures
74. Index of
industrial
production,
nondurable
manufactures
(1967=100)
f1)
(1967=100)
Revised1
C,C,C
49. Value of
goods output
in 1972 dollars
(Ann. rate,
bil.dol.)
1978
January
February
March
1,367^8
1,618.5
1,631.3
1,654.4
1,117.0
1,118.1
1,127.7
967.4
969.4
978.9
233.3
236.0
240.2
140.0
140.3
142.1
132.1
132.3
135.0
152.4
152.9
153.8
621 'A
1, 3 9 5 ^ 2
1,676.5
1,687.3
1 ,704.2
1,135.1
1,133.9
1,137.6
987.5
986.7
991.1
244.0
243.2
244.2
144.4
144.8
146.1
137.6
137.9
139.0
155.5
155.8
157.0
63J'.2
1,407.1
1,730.0
1,741.3
1,756.1
1,149.5
1,151.7
1,154.6
998.5
1,000.3
1,004.1
245.3
244.5
245.1
147.1
148.0
148.6
141.1
141.8
142.9
157.2
158.4
159.3
641^8
l,426!e
1,781.0
1,801.4
1,826.8
1,163.3
1,172.0
1,181.6
1,013.0
1,021.4
1,030.5
246.3
248.7
250.7
149.7
150.6
151.8
144.6
145.5
146.8
159.5
160.4
161.7
657.*3
January
February
March
1,43CL6
1,834.3
1,851.4
1,872.1
1,172.8
1,172.5
1,177.4
1,021.9
1,022.6
1,027.0
249.4
250.3
D251.6
152.0
152.5
1)153.5
r!47.0
147.2
E)148.6
161.6
162.9
164.0
658^6
April
May
June
1,422*.3
1,880.7
1,891.6
1,905.1
1,174.0
1,172.7
1,172.4
1,022.7
1,021.5
1,021.8
248.7
248.2
246.9
151.1
152.7
153.0
H44.5
147.6
147.6
162.6
163.6
163.7
647! 3
July
August
September
1,433.*3
1,933.2
1,946.5
1,960.1
1,180.9
1,179.7
1,177.2
1,023.0
1,021.4
1,019.5
246.1
243.1
242.6
153.0
152.1
152.7
147.2
H44.4
145.9
164.8
165.2
165.4
651. '3
October
November
December
1,44CU
1,981.2
2,005.5
2,028.3
1,181.4
1,188.1
B)l, 191.0
1,023.5
1,030.6
E>1,033.2
241.9
241.0
241.6
152.7
152.3
152.5
r!46.0
r!45.2
r!44.8
164.8
165.0
165.3
655 '.1
[H)l, 444^7
2,046.5
2,055.7
2,070.0
1,190.5
1,182.1
1,174.1
1,030.5
1,024.8
1,017.5
239.9
239.1
236.5
152.7
152.6
152.1
144.7
144.1
r!43.4
[H)166.0
165.9
164.7
(H)659!7
rl',408!6
r2, 072.0
r2, 079.0
r2,090.4
rl,166.7
rl, 164.1
rl,164.6
rl, 010.1
rl,005.5
rl, 005.1
231.8
227.7
r224.7
148.3
144.0
141.4
r!38.4
H33.3
129.9
161.6
158.0
155.3
r636!9
r2,121.5
[H}p2,137.9
rl,174.7
pi, 172.1
rl,002.6
pi ,002.1
r223.4
p224.8
139.8
p!40.5
r!27.6
p!28.4
153.4
p!54.0
April
May
June
.
July
August
September
.
.
. .
October
November
December
1979
1980
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 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 14, 19, 20, and 40.
1
See "New Features and Changes for This Issue," page iii.
SEPTEMBER 1980
63
CYCLICAL INDICATORS
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Con.
MAJOR ECONOMIC
PROCESS
H
Minor Economic
Process
PRODUCTION AND
INCOME-Con.
Q| CONSUMPTION, TRADE, ORDERS, AND DELIVERIES
Capacity Utilization
L, C, U
Timing Class
83. Rate of
capacity
utilization,
manufacturing
(BEA)
Year
and
month
(Percent)
1978
January
February
March
82. Rate of
capacity
utilization,
manufacturing
(FRB)
Orders and Deliveries
L, C, U
84. Rate of
capacity
utilization,
materials
(Percent)
(Percent)
(M
(M
L, L, L
Value of manufacturers' new
orders, durable goods industries
6. Current
dollars
(Bil.dol.)
(Bil.dol.)
L, Lg, U
25. Change in
unfilled orders,
durable goods
industries
96. Manufacurers' unfilled
orders, durable
goods industries
(Bil.dol.)
(Bil.dol.)
L, L, L
32. Vendor
performance,
companies reporting slower
deliveries®
(Percent
reporting)
62.03
65.05
67.04
38.31
39.81
40.78
35.04
36.20
36.47
2.23
2.73
4.06
186.93
189.66
193.72
55
64
67
83.9
85^6
69.20
68.88
68.54
41.71
41.24
40.70
37.98
37.02
36.84
3.45
4.00
2.79
197.17
201.16
203.95
64
64
66
85^2
86^4
67.39
71.29
72.71
39.76
41.64
42.25
36.50
37.61
37.34
1.94
3.15
3.95
205.89
209.04
212.99
56
65
66
86.4
88.*2
76.42
77.21
76.54
44.10
44.14
43.36
38.06
38.06
38.86
6.32
5.71
3.80
219.31
225.02
228.82
68
66
68
H>r86!9
Drssli
78.68
80.43
E)81.65
44.16
44.68
[H)45.04
E>38.94
38.43
38.63
5.91
D7.10
5.89
234.72
241.82
247.71
69
77
H>78
85."9
r87.*5
75.93
77.04
76.03
41.36
41.75
40.98
36.74
36.88
36.43
4.73
1.52
3.23
252.43
253.96
257.19
76
76
70
r85.*3
87.2
74.58
74.76
77.65
39.82
39.81
40.91
35.95
35.44
35.93
0.71
0.40
3.45
257.90
258.30
261.74
60
55
51
r84!4
86!i
76.52
75.90
77.20
39.71
39.15
39.43
35.60
34.34
34.19
0.98
2.15
3.01
262.72
264.87
267.88
50
47
49
r83.'4
r85'.5
81.47
81.02
77.55
40.61
39.93
38.28
36.10
36.00
33.52
3.52
1.86
1.62
271.40
273.26
274.88
48
42
45
r77.9
r78.7
72.42
67.33
66.45
r35.62
33.23
32.42
r30.35
29.03
29.07
0.21
-2.12
-2.60
0)275.10
272.98
270.38
40
32
28
r73.98
p72.30
r35.77
p34.74
r31.66
p31.37
rl.68
pO.04
r272.06
p272.10
32
34
*83
October
November
December
(Bil.dol.)
8. New orders
for consumer
goods and
materials in
1972 dollars
L, L, L
82.6
*84
July
August
September
7. Constant
(1972) dollars
L, L, L
82.'o
*84
April
May
June
L, L, L
*84
1979
January
February
March
i>84
April
May
June
"83
July
August
September
*82
October
November
December
81
1980
January
February
March
April
May
June
. ..
*80
. ..
p76
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 ©. Current high values are indicated byE); 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, 20, and 21.
x
See "New Features and Changes for This Issue," page iii.
64
SEPTEMBER 1980
CYCLICAL INDICATORS
B
CYCLICAL INDICATORS BY ECONOMIC PROCESS —Con.
MAJOR ECONOMIC
PROCESS
.
B
Iflj 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
(Mil. dot.)
C, L,C
C,C,C
57. Constant
(1972) dollars
75. Index of industrial produc-
(1967=100)
U, L, U
Sales of retail stores
54. Current
dollars
goods
(Mil.dol.)
C.L.U
(Mil.dol.)
FIXED CAPITAL
INVESTMENT
59. Constant
(1972) dollars
(Mil.dol.)
L,C,C
L,L, L
L, L, L
55. Personal
consumption
expenditures,
automobiles
58. Index of
consumer
sentiment ®
(Ann. rate,
bil.dol.)
(1stQ
1966=100)
1
12. Index of
net business
formation
(1967=100)
L, L, L
13. Number of
new business
incorporations
(Number)
Revised 2
1978
January
February . . . . . .
March
232,748
238,854
241,915
148,346
151,393
153,449
143.2
145.2
147.5
62,220
63,040
64,100
42,881
43,149
43,665
62!3
83.7
84.3
78.8
133.5
133.1
130.5
36,414
39,434
37,847
April
May
June
250,279
251,562
252,883
156,423
156,450
156,468
149.5
149.0
149.3
65,305
65,861
66,392
44,095
44,143
44,232
7CK2
81.6
82.9
80.0
131 .9
132.1
132.7
39,585
39,059
39,860
July
August
September .
253,690
259,732
260,457
155,750
158,585
157,533
149.8
150.6
150.8
66,794
67,469
68,006
44,322
44,563
44,623
68*.9
82.4
78.4
80.4
133.3
132.5
133.3
40,152
41,007
41,553
October
November
December
266,934
269,692
272,424
159,972
160,370
161,050
151.2
151.3
151.5
69,164
69,871
70,832
45,117
45,312
45,669
7CL6
79.3
75.0
66.1
134.8
133.4
133.8
41,437
41,423
42,179
January
February
March
274,091
274,844
283,741
160,460
159,177
[H)164,058
151.3
151.8
|H>153.4
71,293
71,266
72,045
45,381
44,850
44,944
(H>74!6
72.1
73.9
68.4
131.3
132.1
132.5
42,410
42,302
42,761
April
May
June
276,406
286,413
283,772
157,285
161,807
158,316
149.3
152.2
152.1
71,606
72,292
72,093
44,229
44,405
43,932
68.2
66.0
68.1
65.8
130.9
130.5
130.9
43,034
43,895
43,044
July
August
September
289,994
293,167
296,776
159,751
160,273
160,068
151.2
148.7
150.0
73,121
74,871
76,666
44,316
45,130
(8)45,771
67.'9
60.4
64.5
66.7
131.8
130.3
132.5
44,655
42,911
44,687
298,619
299,153
302,386
159,757
158,205
158,718
150.0
149.1
148.6
75,583
76,421
77,150
44,803
44,954
44,881
66.'8
62.1
63.3
61.0
131 .9
131.4
B>133.9
B>46,478
44,811
43,579
H)312,730
310,571
305,657
161,600
160,189
154,500
147.9
148.4
148.6
79,464
77,993
76,534
45,695
44,365
42,972
71. * 5
67.0
66.9
56.5
131.0
129.8
r!25.8
44,447
44,583
42,615
295,277
r292,478
r294,203
r!50,706
H47J03
r!47,805
145.3
142.4
142.2
75,011
74,587
r76,001
41,859
41,460
r42,013
r52.7
51.7
r58.7
r!20.5
H17.8
114.8
42,461
41,974
39,746
p302,707
(NA)
p!51,447
(NA)
141.6
P141.7
r78,394
[H>p79,533
r43,169
p43,248
62.3
67.3
e!15.3
(NA)
(NA)
. .
1979
.
October
November
December
...
. .
1980
January
February
March
April
May
June
. .
July
August
September
.
.
r52.5
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[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.
l
Series 58 reached its high value (89.1) in 2d quarter 1977.
See "New Features and Changes for This Issue," page iii.
2
http://fraser.stlouisfed.org/SEPTEMBER 1980
Federal Reserve Bank of St. Louis
65
CYCLICAL INDICATORS
B
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Con.
MAJOR ECONOMIC
PROCESS
Q| FIXED CAPITAL INVESTMENT-Con.
Minor Economic
Process
Business Investment Commitments
L, L, L
Timing Class
L, L, L
Contracts and orders for plant
and equipment
Year
and
month
10. Current
dollars
(Bil. dot.)
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
space1
11. 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 meters2
(Millions)
1978
20.79
21.89
20.13
13.26
13.90
12.84
16.07
16.99
16.84
10.30
10.84
10.79
83.03
67.86
71.94
7.71
6.30
6.68
17JO
19.00
21.18
19.83
12.06
13.31
12.42
17.24
17.68
17.66
10.98
11.20
11.13
76.71
88.41
83.27
7.13
8.21
7.74
15J2
22.08
22.92
23.18
13.62
13.99
14.07
18.05
18.57
19.69
11.27
11.48
12.09
74.82
79.21
86.38
6.95
7.36
8.02
16J7
25.94
24.87
22.34
15.56
14.93
13.24
21.12
20.92
18.76
12.86
12.74
11.28
84.55
91.08
81.48
7.85
8.46
7.57
18*.75
26.16
25.48
0)28.10
15.40
15.17
0)16.99
21.23
22.48
23.60
12.72
13.56
16)14.60
88.51
0)105.49
102.77
25.36
22.67
24.66
14.76
13.14
14.32
20.60
21.13
21.70
12.24
12.34
12.78
93.59
87.09
84.08
8.69
8.09
7.81
2K20
July
August
September
25.82
r23.83
24.49
14.55
H3.38
13.67
21.23
21.08
21.58
12.20
12.00
12.21
88.48
83.85
92.17
8.22
7.79
8.56
22! 69
October
November
December
24.21
25.69
27.42
13.55
14.65
15.31
21.07
21.75
22.28
12.01
12.73
12.81
93.15
84.13
80.79
8.65
7.82
7.51
23.28
27.35
24.56
26.27
15.01
13.47
14.07
0)23.86
21.48
22.59
13.34
12.02
12.35
104.43
85.46
82.84
9.70
7.94
7.70
0>29*.50
24.20
21.18
22.92
12.98
11.53
12.62
22.16
19.59
19.95
12.02
10.79
11.26
72.90
62.72
71.19
6.77
5.83
6.61
p25^76
r24.86
p24.90
H3.72
p!3.54
r21.61
p20.31
H2.24
pll.45
72.28
65.99
6.71
6.13
January
February
March
April
May
June
.
.
.
July
August
September
October
November .
December
. .
59 '.73
59i98
6o!83
63!43
1979
January
February
March
. ...
April
May
June
8.22
0)9.80
2i!ei
9.55
67^63
69.'95
73^45
76.' 66
1980
January
February
March
. . .
April
May
June
July
August
September
October
November
December
84 '.09
0)p87i71
. .
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.
x
Graphsof these series are shown on pages 12, 23, and 24.
This is a copyrighted series used by permission; it may not be reproduced without
written permission from McGraw-Hill Information Systems Company, F.W. Dodge Division. 2Converted to metric units by the Bureau
of Economic Analysis.
SEPTEMBER 1980
66
IICII
CYCLICAL INDICATORS
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Con.
MAJOR ECONOMIC
PROCESS
^9 FIXED CAPITAL INVESTMENT-Con.
Minor Economic
Process
Timing Class
Year
and
month
Residential Construction
Commitments and Investment
Business Investment Expenditures
C, Lg, Lg
C, Lg, Lg
61. Business
expenditures
for new plant
and equipment,
total
69. 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
86. Total
equipment
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.)
Revised1
1978
January
February
March
144^25
205.29
209.48
213.55
152.0
153.6
156.5
133J
40.2
93.0
April
May
June
150^76
222.93
221.05
228.54
158.0
158.4
160.1
140^3
43.9
96.4
July
August
September
155.' 41
230.65
236.47
245.60
161.7
163.4
163.8
141 .6
45 'i
October
November
December
163.'%
245.93
249.54
252.58
164.8
165.0
166.8
145^5
January
February
March
165!94
256.93
256.86
268.78
168.2
169.3
171.0
April
May
June
173^48
261.20
268.02
265.92
July
August
September
179^33
October
November
December
1,779
1,762
2,028
140.5
140.2
145.3
0)2,182
2,018
2,092
157.4
142.6
0)160.2
96 .*5
2,090
1,983
2,014
144.3
136.6
141.4
60.2
46.5
98^9
2,001
2,111
2,052
143.9
145.0
146.8
66!6
147.2
45.8
10l".3
1,727
1,469
1,800
119.1
120.4
136.7
57^7
168.7
171.2
171.2
146^9
47!9
99^0
1,750
1,801
1,910
125.0
133.1
132.4
56.7
274.41
278.61
280.10
171.3
171.6
173.4
150'.7
48.7
0)ioii9
1,764
1,788
1,874
126.3
131.0
136.9
56^5
186*95
285.29
279.46
287.54
172.3
172.6
174.1
150.5
50.1
100.4
1,710
1,522
1,548
119.4
104.0
100.7
55^8
191*36
297.92
ry)303.20
300.05
174.9
176.0
1)176. 1
0)151.2
[H)50.3
100.9
1,419
1,330
1,041
102.7
94.3
78.2
51 '.7
0)193l89
291.99
293.49
r292.17
174.2
171.9
169.0
r!45!3
49 ll
r96.3
1,030
906
rl,223
63.7
66.6
87.1
4C)'.7
p294.13
(NA)
168.1
pi 67. 3
rl,249
pi ,399
99.8
109.9
59.4
0)60*9
1979
1980
January
February
March
April
May
June
July
August
September
a!9l'.24
October
November
December
a!93.17
NOTE: Series are :
series that mov
order. Complete titleo unu ouu.i^o u,^ o,,u.... .
Graphs of these series are shown on pages i o, *t, dim LV.
x
See "New Features and Changes for This Issue," page iii.
SEPTEMBER 1980
67
CYCLICAL INDICATORS
B
CYCLICAL INDICATORS BY ECONOMIC PROCESS -Con.
MAJOR ECONOMIC
PROCESS
Ml
Minor Economic
Process
Timing Class
Year
and
month
INVENTORIES AND INVENTORY INVESTMENT
Inventory Investment
L, L, L
L, L,L
36. Change in inventories on
30. Change in
hand and on order in 1972
business invendollars
tories in 1972
Monthly
Smoothed
dollars
data
data1
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.
Lg, Lg, Lg
Lg, Lg, Lg
Manufacturing and trade
inventories
71. Current
dollars
Lg, Lg, Lg
70. Constant
(1972) dollars
65. Mfrs.'
inventories of
finished
goods, book
value
(Bil.dol.)
(Bil.dol.)
U Lg, Lg
Lg, Lg, Lg
77. Ratio,
constantdollar inventories to
sales, mfg.
and trade
78. Stocks of
materials and
supplies on
hand and on
order, mfg.
(Ann. rate,
bil.dol.)
(Ann. rate,
bil.dol.)
(Ann. rate,
bil.dol.)
January
February
March
isis
21.07
13.75
E)35.22
16.33
18.36
20.35
42.9
36.3
61.1
0.48
1.41
1.81
341.01
344.04
349.13
238.18
238.92
241.23
59.76
59.78
60.24
1.61
1.58
1.57
144.38
145.80
147.60
April . . .
May
June
isie
28.69
18.05
14.51
24.62
|H)26.60
23.87
61.2
32.0
32.1
1.84
2.00
2.32
354.23
356.90
359.58
242.94
243.93
244.65
60.71
61.03
61.45
1.55
1.56
1.56
149.44
151.45
153.76
July
August
September . . . .
12.*2
14.94
18.77
14.06
18.12
15.95
16.00
37.0
42.9
38.8
1.95
1.64
2.94
362.66
366.23
369.47
245.54
246.77
247.13
61.85
62.65
62.74
1.58
1 . 56
1.57
155.71
157.35
160.29
October
November
December
U'.Q
14.46
18.32
19.09
15.84
15.69
16.45
42.0
54.3
37.8
2.19
3.19
2.84
372.97
377.50
380.64
247.88
249.09
249.59
62.75
63.64
63.88
1.55
1.55
1.55
162.48
165.67
168.52
12.3
28.12
14.56
13.64
19.57
21.22
19.68
56.8
47.2
39.8
E>5.09
3.70
2.98
385.38
389.31
392.63
250.98
251.38
252.24
64.70
65.51
65.88
1.56
1.58
1.54
173.60
177.30
180.29
E>i8!i
28.62
-1.31
20.72
18.86
H6.30
14.83
68.1
43.7
57.3
4.33
0.52
2.59
398.31
401.94
406.72
253.80
254.71
256.18
67.08
67.22
68.08
1.61
1.57
1.62
184.62
185.14
187.73
July
August
September
7J
24.47
2.46
-21.16
15.32
rl5.26
8.90
B>82.3
44.9
15.2
1.24
2.21
1.74
413.58
417.32
418.59
258.92
[0)259.42
257.63
68.62
68.95
69.87
1.62
1.62
1.61
188.97
191.18
192.93
October
November
December
i.'i
-4.33
-8.72
-13.45
-2.88
-9.54
-10.12
53.4
37.8
10.2
2.24
2.52
1.51
423.04
426.19
427.04
258.18
258.13
257.32
69.75
69.94
70.53
1.62
1.63
1.62
195.16
197.69
199.20
6. "3
-9.97
-16.31
r-0.77
-9.77
-11.98
r-11.13
57.3
42.1
48.0
2.48
2.54
1.21
431.82
435.32
439.32
257.47
256.82
256.88
71.78
72.76
73.94
1.59
1.60
1.66
201.67
204.22
D205.43
rl.10
r-25.97
r-22.38
r-7.17
r-6.94
r-12.15
74.4
r3.3
r!4.8
-0.36
-2.85
r-2.32
445.53
r445.80
r447.03
r258.65
r257.83
r257.50
75.76
76.21
r76.61
1.72
|H>rl.75
rl.74
205.07
202.22
H99.90
plO.21
(NA)
p-14.23
(NA)
p43.7
(NA)
pi. 37
(NA)
0>p450.67
(NA)
P258.48
(NA)
[H) P 77.00
(NA)
pi. 71
(NA)
p201.27
(NA)
(Ann. rate,
bil.dol.)
(Bil.dol.)
(Bil.dol.)
(Ratio)
(Bil.dol.)
1978
1979
January
February
March
April
May
June
1980
January
February
March
April
May
June
July
August
September
r2.6
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 byH); for
series that move counter to movements in general business activity, current low values are indicated by [R). 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.
SEPTEMBER 1980
CYCLICAL INDICATORS
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Con.
MAJOR ECONOMIC
PROCESS
M PRICES, COSTS, AND PROFITS
Minor Economic
Process
Stock
Prices
Sensitive Commodity Prices
L, L, L
Timing Class
U, L, L
92. Change in sensitive prices
Year
and
month
Monthly
data 2
Smoothed
data 3
(Percent)
(Percent)
23. Index of
industrial
materials
prices®
(1967=100)
L, L, L
19. Index of
stock prices,
500 common
stocks ©
(1941-43=10)
Profits and Profit Margins
L, L, L
L, L, L
Corporate profits after taxes
16. Current
dollars
(Ann. rate,
bil.dol.)
18. Constant
(1972) dollars
(Ann. rate,
bil.dol.)
L,C,L
L, C, L
Corporate profits after taxes
with I V A a n d CCA 1
79. Current
dollars
(Ann. rate,
bil.dol.)
80. Constant
(1972) dollars 2
(Ann. rate,
bil.dol.)
L, L, L
22. Ratio,
profits (after
taxes) to total
corporate
domestic income
(Percent)
1978
January
February
March
0.74
0.27
0.94
1.47
1.36
0.90
219.7
219.9
219.8
90.25
88.98
88.82
106.7
71 \2
70.4
47.*4
9!9
April
May
June
1.36
0.82
1.82
0.75
0.95
1.19
220.3
217.8
222.1
92.71
97.41
97.66
122*.4
79.9
84!7
55^7
l6'.7
July
August
September
2.45
0.03
1.37
1.51
1.56
1.36
224.7
232.6
239.1
97.19
103.92
103.86
124'.6
79^7
87.'7
56*7
io.'7
October
November
December
1.32
1.60
1.22
1.09
1.17
1.40
249.4
254.8
251.8
100.58
94.71
96.11
132! 3
83.2
E>89'.7
56^9
ii!6
1.77
2.92
3.04
1.45
1.75
2.27
258.3
273.5
288.5
99.71
98.23
100.11
142.'6
87*3
87.*6
54.'4
n'.'i
-0.35
2.85
2.93
2.22
1.86
1.83
294.5
293.8
293.9
102.07
99.73
101.73
139^3
83.*7
87^9
53^4
ii!6
July
August
September
1.63
1.09
3.47
2.14
2.18
1.97
297.3
298.1
297.3
102.71
107.36
108.60
148.3
86\9
86.'8
5l'! 5
ii!2
October
November
December
2.63
1.92
2.33
2.23
2.54
2.48
307.7
304.0
309.6
104.47
103.66
107.78
146.9
84.7
80.3
46.9
11.0
3.43
2.99
-1.05
2.43
D2.74
2.35
316.2
E)322.5
316.9
110.87
115.34
104.69
[H>158!6
E>88!8
72^6
41.4
B>ii!s
r-0.65
r-0.24
0.09
rl.ll
r-0.11
r-0.46
301.9
278.5
267.5
102.97
107.69
114.55
r!27.'i
r69.'9
r75.*2
r41.*7
r9.'3
rO.27
1.12
277.6
292.1
"297.8
119.83
D123.50
5
127.43
1979
January
February .
March
....
April
May
June
1980
January
February
March
April
May
June
July
August
September
October
November
December
2.56
1.65
....
CYCLICAL INDICATORS
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Con.
MAJOR ECONOMIC
PROCESS
Minor Economic
Process
Timing Class
Year
and
month
^H 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 2
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
business sector 2 34. Current
35. Constant
(1972) dollars
dollars
(1967=100)
(Ann. rate,
bil. dol.)
(Ann. rate,
bil. dol.)
Lg, Lg, Lg
Lg, Lg, Lg
Lg, Lg, Lg
68. Labor cost
63. Index of
unit labor cost, per unit of real
private business gross domestic
product; nonsector
financial
corporations
(1967=100)
62. Index of
labor cost per
unit of output,
manufacturing
Lg, Lg, Lg
64. Compensation of employees as a percent
of national
income
(1967=100)
(Dollars)
(Percent)
Revised3
1978
January
February
March
6'.2
5.0
94.7
178J
114l4
189*.4
1.002
161.5
163.9
164.4
76!7
April
May
June
7.'l
5.'i
95.'8
19S.'s
123.5
192,'i
1.009
163.1
163.2
163.3
75!6
July
August
September
Y.2
5.'5
96.'6
197.*3
122ls
195.*2
1.024
163.6
163.1
163.9
75 A
October
November
December
Y.2
5!?
96."6
205. ' 7
125.'8
199!6
1.042
164.9
166.6
167.8
75.'6
January
February
March
'6.6
E>5.'9
94 '.7
216.'6
129'.8
205^9
1.075
170.0
171.4
171.5
75!5
April
May
June
6'.6
5'.6
94.4
217.'3
127,'i
211 '.7
1.104
174.9
173.0
173.7
75!9
July
August
September
6.'6
sis
94*. 2
228^3
isols
21716
1.127
174.6
175.8
176.3
75^8
October
November
December
5.5
5.4
94*. 6
227.7
127.5
221.1
1.152
177.8
179.2
181.5
76.0
4.'6
S.'e
93.6
D238.'8
DISKS
22?l5
1.182
182.8
185.1
187.1
7614
rsli
p4^4
93l5
r207^8
rllll7
(H>235ll
lH>rl.220
190.6
194.6
197.6
1979
1980
January
February .
March
April
May
June
July
August
September
[H}r77l4
200.4
DP202.3
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[fl); for
series that move counter to movements in general business activity, current low values are indicated by |H). Series numbers are for identification only and do not reflect series relationships or
order. Complete titles and sources are shown at the back of the book. The "r" indicates revised; "p", preliminary; "e", estimated; "a", anticipated; and "NA", not available.
1
Graphs of these series are shown on pages 15, 29, and 30.
IVA, inventory valuation adjustment; CCA, capital consumption adjustment.
2
3
Series 81 reached its high value (8.1) in 3d quarter 1977; series 26 reached its high value (98.1) in 3d quarter 1975.
See
"New Features and Changes for This Issue," page iii.
70
SEPTEMBER 1980
ItCII
CYCLICAL INDICATORS
B
CYCLICAL INDICATORS BY ECONOMIC PROCESS -Con.
MAJOR ECONOMIC
PROCESS
Ql MONEY A N D C R E D I T
Minor Economic
Process
Velocity of Money
Money
L, L, L
Timing Class
85. Change in
money supply
(Ml-B)
Year
and
month
L, C, U
102. Change
in money
supply (M2) 1
104. Change in total liquid assets
Monthly
data
(Percent)
(Percent)
L, L, L
L, L,L
Smoothed
data 2
(Percent)
(Percent)
L, L, L
106. Money
105. Money
supply (Ml-B) supply (M2)
in 1972
in 1972
dollars
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-B)
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.)
1978
i.n
January
February
March
0.00
0.48
0.66
0.41
0.64
0.83
0.82
1.08
0.99
0.93
0.89
[H)224.3
223.0
222.3
0)869.1
867.6
866.3
5.974
1.243
1.247
1.257
82.43
85.03
89.80
April
May
June
1.12
0.88
0.70
0.65
0.66
0.62
1.06
1.11
0.79
0.95
1 .04
1.04
223.2
223.4
223.0
865.6
864.5
862.3
6.11*6
1.265
1.265
1.270
85.40
93.48
89.80
July
August
September
0.40
0.43
1.11
0.57
0.78
0.93
0.81
1.03
1.18
0.94
0.89
0.94
222.4
222.0
222.5
861.5
863.0
863.5
6.158
1.282
1.280
1.279
89.15
101.17
92.98
October
November
December
0.20
0.79
0.73
0.77
0.74
0.57
0.66
1.24
1.11
0.98
0.99
1.02
221.1
221.4
221.6
862.8
863.6
862.9
6.258
1.287
1.293
1 . 303
94.51
94.62
91.61
0.03
0.19
0.89
0.43
0.45
0.91
0.61
0.79
1.20
1.00
0.91
0.85
219.6
217.6
217.3
858.6
852.9
852.0
6.341*
1.303
1.310
1.312
rlOO.84
r82.15
r88.18
1.57
-0.11
1.27
1.02
0.58
1.13
1.13
1.02
1.37
0.95
1.08
0)1.14
218.7
216.2
216.7
852.6
848.7
849.6
6.281
1.305
1.305
1.300
r75.24
r91 .96
r94.76
July
August
September
0.94
0.66
0.61
0.85
0.91
0.74
0.74
0.85
0)1.38
1.11
1.02
0.99
216.4
215.7
214.5
847.7
846.9
843.3
6.310
1.308
1.305
1.304
r97.36
r84.01
r87.42
October
November
December
0.18
0.34
0.57
0.48
0.42
0.60
0.49
0.28
0.69
0.95
0.81
0.60
212.8
21V.3
210.0
839.1
834.1
828.9
6.390
1.312
1.323
1.330
0)rl03.69
r77.12
r51 .59
January
February
March
0.44
0.82
-0.03
0.59
0.80
0.41
0.66
0.96
0.65
0.52
0.66
0.76
208.0
206.9
203.9
822.4
817.7
809.5
6.460
1.334
1.329
1.333
r87.55
67.51
69.29
April
May
June . .
-1.18
-0.10
1.22
-0.21
0.79
rl.51
0.48
rO.71
rO.62
0.73
0.66
0.61
199.7
197.8
198.2
800.5
r799.9
r804.1
0)r6.500
0)1.337
rl.331
rl.318
50.12
16.79
r7.87
0.92
0)pl.80
3
1.19
rl.51
pi. 13
pO.73
el. 14
pO.64
eO.76
200.0
p202.3
r816.2
p819.8
rl .318
pi .313
p40.93
(NA)
1979
January
February
March
April
May
June
.
..
1980
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 @. 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 13, 31, and 32.
Series 102 reached its high value (1.64) in June 1975. 2See footnote 1 on page 68.
and 17.
SEPTEMBER 1980
3
Average for weeks ended September 3, 10,
71
CYCLICAL INDICATORS
B
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Con.
MAJOR ECONOMIC
PROCESS
HHj MONEY AND CREDIT-Con.
Minor Economic
Process
Credit Flows-Con.
U L, L
Timing Class
U L,L
112. Net change
in bank loans
to businesses
Year
and
month
(Ann. rate,
bil.dol.)
113. Net
change in
consumer installment
debt
(Ann. rate,
bil.dol.)
Credit Difficulties
L, L, L
110. Total
private
borrowing
(Ann. rate,
mil. dol.)
L, L, L
Bank Reserves
L,L,L
L, U, U
39. Delinquency 93. Free
rate, 30 days
reserves©
and over, consumer installment loans
14. Current
liabilities
of business
failures@ *
(Mil. dol.)
(Percent)
(Mil. dol.)
Interest Rates
L, Lg, Lg
L, Lg, U
C, Lg, Lg
119. Federal
funds rate®
94. Member
bank borrowing from the
Federal
Reserve©
(Mil. dol.)
1 14. Treasury
bill rate®
(Percent)
(Percent)
1978
January . .February
March
9.76
17.21
19.97
29.24
34.34
48.91
309,956
168.31
205.01
324.41
2.42
2.48
2.51
-176
-272
-38
April
May
June
18.10
26.24
21.96
49.27
51.36
50.48
336,240
202.99
160.40
178.84
2.44
2.28
2.44
-475
-975
-974
13.61
11.78
13.92
41.59
43.58
44.16
345,916
231 .82
206.40
127 02
2.42
2.37
2 42
10.90
8.77
-0 94
40.51
45 98
52 79
394 412
475 34
178 93
196 54
2 35
2 34
2 45
39 31
33 07
5 76
36 80
42 76
43 50
r347 904
April
May
June
39 62
31 99
23 23
AQ
July
August
September
40 RR
30 54
d^ ^fi
July
August . . . .^
September
>
October
November
December
481
405
344
6.70
6.78
6 79
6.45
6.46
6 32
539
1,227
1 ,111
6 89
7.36
7 60
6 31
6.43
6 71
-1 ,146
-885
-993
1 286
1,147
1 068
7 81
8.04
8 45
7 07
7.04
7 34
-1 049
417
-749
1 261
722
874
8 96
9 76
8 13
8 79
cqo
764
-742
QQZL
i n 0.7
070
1 0 Ofi
1 0 OQ
in rn
Q
1 9
1979
January
February
March
. . . .
.
October
November
December
. .
•3
70
9i in
4
CC
Of.
39 67
30 70
29 32
29 35
[R)53 35
r355 864
[fj\r4"l4 400
00
1C
1 Q
r309 748
[UN? i 9
2 31
2 33
9 /I Q
9
91 9 9C\
9 dR
npq
AA
9 A.7
9 ^Q
Qfl/l
1 "^Q
one y e
9 zm
1 7£o
m . "3011
9 RO
007
"37
2 45
1 38.02
9
£/l
qqq
1 /inn
1 1 7^
9
9
9
or
97
nc
OQ7
1 j~\
10 . r\l
U1
9 . 49
1
777
1n
1
qq£
1 0 9Q
Q
9 . rbo
9 nc
1 1 7Q
1 nq7
10 A7
1 D QA
PQQ
242.76
?nn 4R
273 1 7
1 Pfi 90
26 23
OQ
182 22
177 09
187 76
1 "3AZL
n
9/1
no
1 q
77
"I O
1 Q
9
9
or
/j r
1 r\
Q
10 . -ilo
11
A7
-1 ,079
2,022
1 ,906
1 ,473
-999
-1,465
[H>-2,680
1,241
1,655
E>2,824
13.82
14.13
17.19
12.04
12.81
0)15.53
2,455
1,018
p365
[H}17 61
10.98
9 47
14 00
9 03
9 61
10.44
8 13
9 26
"10.32
-1 ,751
1 o 7Q
1 6 . /O
n . OQ7/
12.07
1980
E>55.48
35.83
-1.52
16.46
27.54
17.24
r344,388
243.15
190.79
274.24
2.37
2.32
2.53
April
May
June
2.47
-38.96
2.14
-23.82
-41.21
-41.56
pi 52, 860
428.15
381.15
436.68
2.53
2.64
2.74
-2,261
-835
p-114
July
August
September
13.28
p30.96
2
21.36
-7.31
(NA)
445.69
(NA)
(NA)
p28
p-356
3
-732
January
February
March
3
p390
p687
1,052
3
9.15
7 00
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,
1
Series 14 reached its high value (96.99) in September 1977. 2Average for weeks ended September 3 and 10. 3Average for weeks
ended September 3, 10, and 17. ^Average for weeks ended September 4} 11, 18, and 25.
72
SEPTEMBER 1980
CYCLICAL INDICATORS
CYCLICAL INDICATORS BY ECONOMIC PROCESS—Con.
MAJOR ECONOMIC
PROCESS
H9 MONEY AND CREDIT-Con.
Minor Economic
Process
Outstanding Debt
Interest Rates-Con.
Timing Class
Lg, Lg, Lg
C, Lg, Lg
U, Lg, Lg
Lg, Lg, Lg
116. Corporate
bond yields©
115. Treasury
bond yields®
117. Municipal
bond yields®
11 8. Secondary
market yields
onFHA
mortgages®
Year
and
month
(Percent)
(Percent)
(Percent)
(Percent)
Lg, Lg, Lg
Lg, Lg, Lg
7. Bank rates
n short-term
usiness loans
109. Average
prime rate
charged by
banks®
®
(Percent)
(Percent)
Lg, Lg, Lg
Lg, Lg, Lg
66. Consumer
installment
debt
72. Commercial
nd industrial
oans outtan ding, weekly
eporting large
commercial
banks
(Mil.dol.)
(Mil.dol.)
Lg, Lg, Lg
95. Ratio,
consumer installment debt
to personal
income
(Percent)
1978
January
February
March
8.70
8.70
8.70
7.51
7.60
7.63
5.71
5.62
5.61
9.18
(NA)
9.35
8.90
7.93
8.00
8.00
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
9.15
7.74
7.87
7.94
5.80
6.03
6.22
9.44
9.74
(NA)
8.'%
8.00
8.27
8.63
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
7.88
7.82
6.28
6.12
6.09
9.96
9.81
9.81
9.92
9.00
9.01
9.41
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
6.50
9.98
10.04
10.23
1K44
9.94
10.94
11.55
259,399
263,231
267,630
131,055
131,786
131,708
14.56
14.61
14.65
January
February
March
9.47
9.52
9.65
8.43
8.43
8.45
6.47
6.31
6.33
10.24
10.24
10.26
12!27
11.75
11.75
11.75
270,697
274,260
277,885
134,984
137,740
138,220
14.76
14.81
14.84
April
May
June
9.69
9.82
9.51
8.44
8.55
8.32
6.29
6.25
6.13
(NA)
10.61
10.49
12^34
11.75
11.75
11.65
281,990
285,296
287,854
141,522
144,188
146,124
14.99
15.08
15.11
July
August
September
9.47
9.57
9.87
8.35
8.42
8.68
6.13
6.20
6.52
10.46
10.58
11.37
12'.31
11.54
11.91
12.90
290,297
292,743
297,189
149,503
152,048
155,661
15.02
15.04
[0)15.16
October
November
December
11.17
11.52
11.30
9.44
9.80
9.58
7.08
7.30
7.22
(NA)
12.41
12,24
is.'si
14.39
15.55
15.30
299,375
301,782
303,131
155,971
154,213
154,592
15.11
15.05
14.95
11.65
13.23
[0)14.08
10.03
11.55
[H)11.87
7.35
8.16
[0)9.17
12.60
(NA)
[0)14.63
1 5'. 67
15.25
15.63
18.31
304,503
306,798
[0)308,235
159,215
162,201
162,074
14.88
14.92
14.89
13.36
11.61
11.12
10.83
9.82
9.40
8.63
7.59
7.63
13.45
11.99
11.85
[0)17.'75
[0)19.77
16.57
12.63
306,250
302,816
299,353
162,280
159,033
159,211
14.78
14.57
H4.32
11.48
12.31
M2.58
9.83
10.53
MO. 76
8.13
8.67
8.86
12.39
13.54
11.48
11.12
12.07
298,744
(NA)
160,318
[H)pl62,898
"164,678
H4.08
(NA)
.......
1979
1980
January
February
March
April
May
June
July
August
September
October
November
December
2
n '. 56
3
. .
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 (0); for
series that move counter to movements in general business activity, current low values are indicated by (0). Series numbers are for identification only and do not reflect series relationships or
order. Complete titles and sources are 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, 34, and 35.
Average for weeks ended September 5, 12, and 19. 2Average for weeks ended September 4, 11, and 18.
through 25. AAverage for weeks ended September 4 and 10.
SEPTEMBER 1980
3
Average for September 1
73
CYCLICAL INDICATORS
DIFFUSION INDEXES AND RATES OF CHANGE
Qj DIFFUSION INDEXES
Year
and
month
950. Twelve leading
indicator components
(series 1,3, 8, 12,19,
20,29,32,36,92, 104,
951. Four ro ughly
coincident in dicator
components (series
41,47,51,5 7)
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
962. Initial claims for
State unemployment
insurance, week including the 12th
(51 areas)
963. Number of employees on private
nonagricultural payrolls
(172 industres)
1-month
span
6-month
span
1-month
span
9-month
span
1-month
span
9-month
span
2.5
77.5
65.0
40.0
33.3
47.1
54.9
76.5
56.9
47.1
68.6
68.6
71.8
82.3
82.8
79.9
82.4
11.8
58.8
52.9
60.8
60.8
69.8
61.9
64.2
74.7
75.3
74.7
1 -month
span
6-month
span
100.0
100.0
91.7
100.0
100.0
100.0
75.0
90.0
66.7
100.0
85.0
1978
January
February
March
45.8
62.5
41.7
58.3
54.2
58.3
April
May
June
66.7
54.2
62.5
54.2
50.0
58.3
July
August
September
45.8
50.0
62.5
62.5
83.3
66.7
100.0
October
November
December
54.2
37.5
66.7
January
February
March
25.0
75.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
62.5
100.0
100.0
100.0
66.7
66.7
50.0
100.0
100.0
100.0
100.0
100.0
100.0
58.3
41.7
66.7
33.3
41.7
41.7
25.0
75.0
April
May
June
25.0
45.8
41.7
July
August
September .
October
November
December
83.3
83.3
62.5
52.5
70.0
95.0
83.3
83.3
83.3
100.0
100.0
100.0
47.5
45.0
60.0
82.5
47.5
22.5
49.0
42.2
94.1
51.0
76.5
15.7
61.0
67.7
67.2
73.3
77.6
80.5
66.7
100.0
100.0
100.0
83.3
83.3
35.0
67.5
57.5
62.5
70.0
12.5
25.5
29.4
86.3
51.0
66.7
29.4
68.0
75.3
74.7
82.0
79.1
78.2
100.0
75.0
87.5
50.0
83.3
75.0
75.0
100.0
100.0
100.0
52.5
37.5
67.5
15.0
10.0
15.0
11.8
72.5
68.6
46.1
27.5
23.5
66.9
66.3
62.2
74.7
71.8
64.0
41.7
33.3
29.2
12.5
75.0
75.0
75.0
50.0
25.0
91.7
75.0
83.3
83.3
100.0
100.0
0.0
92.5
32.5
17.5
30.0
17.5
66.7
66.7
56.9
49.0
31.4
49.7
58.1
57.8
60.5
53.8
51.5
45.8
29.2
54.2
37.5
33.3
45.8
100.0
100.0
50.0'
100.0
75.0
66.7
83.3
75.0
83.3
75.0
75.0
45.0
72.5
32.5
25.0
90.0
35.3
56.9
86.3
21.6
23.5
49.0
57.0
54.4
52.9
58.1
55.5
55.2
16.7
20.8
50.0
41.7
45.8
16.7
r62.5
75.0
75.0
25.0
83.3
41.7
50.0
50.0
58.3
50.0
37.5
57.5
65.0
45.0
32.5
27.5
53.9
68.6
35.3
33.3
65.1
55.2
53.5
59.3
63.1
56.4
January
February
March
41.7
29.2
33.3
25.0
58.3
66.7
41.7
66.7
66.7
50.0
75.0
10.0
0.0
17.5
16.7
16.7
60.2
54.9
45.9
r32.0
April
May
June
12.5
25.0
50.0
33.3
28.2
29.1
r23.3
p26.5
p70.6
r22.7
July
August
September
87.5
(NA)
r32.0
p57.3
50.0
75.0
75.0
91.7
5.0
1979
50.0
50.0
50.0
100.0
7.8
8.8
5.9
1980
"70.0
0.0
75.0
25.0
0.0
0.0
0.0
16.7
1
0.0
0.0
50.0
2
0.0
25.0
66.7
33.3
33.3
25.0
66.7
66.7
2
0.0
3
50.0
50.0
3
50.0
55.0
17.5
r!7.5
r42.5
p85.0
2.5
r5.0
p22.5
25.5
60.8
46.1
3.9
2.0
p2.0
(NA)
42.7
38.1
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.
1
Excludes series 12 and 36 for which data are not yet available.
2
Excludes series 57 for which data are not yet available.
3
Excludes series 70 and 95 for which data are not yet available.
74
SEPTEMBER
1980
CYCLICAL INDICATORS
DIFFUSION INDEXES AND RATES OF CHANGE—Con.
|}B DIFFUSION INDEXES-Con.
Year
and
month
964. Value of manufacturers' new orders,
durable goods industries (35 industries)
1 -month
span
9-month
span
965. Newly approved
capital appropriations,
deflated, The
Conference Board
(17 industries)
1-quarter
span
966. Index of industrial
production (24
industries)
4-Q moving
avg.
1-month
span
6-month
span
967. Index of industrial
materials prices ©
(13 industrial materials)
1-month
span
9-month
span
968. Index of stock
prices, 500 common
stocks x ®
1-month
span
9-month
span
960. Net profits,
manufacturing 2 ®
(about 700 companies)
1-quarter
span
4-quarter
span
Revised 7 Revised7
1978
January
February
March
. .
37.1
60.0
45.7
85.7
91.4
80.0
62
74.3
42.9
57.1
85.7
80.0
94.3
27
48.6
80.0
65.7
88.6
80.0
88.6
59
77.1
45.7
62.9
91.4
97.1
91.4
50
January
February
March
62.9
45.7
62.9
82.9
80.0
61.4
48
April
May
June
25.7
62.9
51.4
65.7
62.9
60.0
33
July
August
September
42.9
57.1
60.0
54.3
45.7
75.7
48
51.4
45.7
54.3
62.9
62.9
42.9
53
January
February
March
72.9
40.0
31.4
22.9
28.6
71
April
May
June
17.1
34.3
42.9
April
May
June
July
.
August
September
..
October
November
December
3
8.1
66.7
66.7
3
58.3
30.6
50.0
"49.1
"62.1
"69. 8
'78
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
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
91.7
79.2
83.3
88.5
80.8
42.3
88.5
88.5
92.3
69.0
39.1
47.3
67.3
74
*52
66.7
79.2
87.5
62.5
66.7
50.0
61.5
76.9
76.9
96.2
96.2
88.5
94.8
35.5
85.5
18.2
32.7
57.4
'?!
45
62.5
54.2
70.8
56.2
54.2
45.8
69.2
42.3
53.8
80.8
84.6
90.7
88.9
75.0
74
*45
16.7
62.5
56.2
'si
52.1
39.6
45.8
66.7
50.0
54.2
46.2
30.8
53.8
63.0
68.5
68.5
75
p47
64.6
52.1
58.3
58.3
58.3
45.8
75.0
37.5
35.4
16.7
16.7
12.5
*49
39.6
47,9
85.4
83.3
79.2
91.7
69.2
34.6
46.2
'BO
87.5
54.2
83.3
87.5
87.5
85.4
*48
70.8
83.3
70.8
3
8.6
0.0
1979
October
November
December
.
5
62.5
5
91.7
80.0
16.4
90.0
5
66.7
66.7
58.3
64.8
92.6
53.7
66.7
58.3
5
58.3
38.0
95.4
69.8
37.7
39.6
74.1
52.8
39.6
47.2
5
5
5
61.5
76.9
5
50.0
73.1
61.5
5
3.7
(NA)
1980
July
August
September
r71.4
p51.4
r34.3
p45.7
p!5
12.5
16.7
16.7
8.3
11.5
15.4
p8.3
0.0
53.8
76.9
16.7
p79.2
6
5
58.3
50.0
53.8
6
50.0
46.2
3.8
26.4
92.5
89.6
77.4
90.6
92.5
88.7
57.7
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; 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 "NA", 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, on 54 industries through January 1980, and on 53 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).
A
Based on 58 components for January 1978 through May 1978 and on 57 components through September 1978.
3
Based on 12 components (excluding rosin).
6
Average for September 2, 9, and 16. 7See "New Features and Changes for This Issue," page iii.
SEPTEMBER 1980
75
CYCLICAL INDICATORS
DIFFUSION INDEXES AND RATES OF CHANGE—Con.
DIFFUSION INDEXES-Con.
Year
and
quarter
a. Actual
expenditures
(1-Qspan)
b. Later
anticipations
c. Early
anticipations
(1-Qspan)
Anticipated
Actual
(1-Qspan)
(4-Qspan)
80
83
82
82
973. Net sales, manufacturing
and trade 1 ®
972. Net profits, manufacturing
and trade1®
971. New orders, manufacturing 1 ©
970. Business expenditures for new plant and
equipment (18 industries)
(4-Qspan)
(4-Qspan)
Anticipated
Actual
Anticipated
Actual
(4-Q span)
(4-Qspan)
(4-Qspan)
80
81
84
85
82
86
90
1977
First quarter ..
Second quarter
Third quarter..
Fourth quarter
66.7
75.0
88.9
44.4
58 ,.3
66.7
66.7
66.7
72.2
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
66.7
77.8
83.3
77.8
66.7
72.2
66.7
72.2
55.6
72.2
69.4
77.8
52.8
63.9
50.0
58.3
41.7
47.2
75.0
66.7
50.0
61.1
72.2
69.4
71
74
74
76
78
80
84
82
82
83
73
76
78
78
79
82
84
83
85
81
73
78
80
84
80
72
78
74
70
72
78
82
80
70
74
66
75
57
62
66
73
59
86
1978
First quarter ..
Second quarter
Third quarter..
Fourth quarter
86
87
92
90
86
1979
First quarter ..
Second quarter
Third quarter..
Fourth quarter
87
84
82
82
85
88
84
78
73
72
80
63
1980
First quarter ..
Second quarter
Third quarter..
Fourth quarter
(NA)
(NA)
(NA)
DIFFUSION 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 ®
978. Selling prices, retail
trade 1 ®
Actual
Actual
Actual
Actual
Actual
Anticipated
(4-Qspan)
(4-Qspan)
Anticipated
Anticipated
Anticipated
(4-Qspan)
(4-Qspan)
(4-Q span)
(4-Q span)
(4-Q span)
(4-Q span)
Anticipated
(4-Qspanl
(4-Qspan)
1977
First quarter ..
Second quarter
Third quarter..
Fourth quarter
60
59
61
62
59
60
61
59
74
72
74
75
65
68
72
70
86
86
87
87
78
81
86
82
87
86
88
90
80
86
86
84
90
86
92
92
86
84
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
84
90
87
90
91
94
94
93
90
88
92
92
62
60
60
58
60
60
58
56
80
76
73
75
70
74
71
92
93
92
94
86
96
95
95
96
90
92
90
94
95
94
96
90
92
92
90
58
(NA)
54
56
48
67
(NA)
62
70
53
90
(NA)
87
90
83
92
(NA)
90
92
87
92
(NA)
90
93
84
1978
First quarter ..
Second quarter
Third quarter..
Fourth quarter
1979
First quarter ..
Second quarter
Third quarter..
Fourth quarter
1980
First quarter ..
Second quarter
Third quarter..
Fourth quarter
NOTE: Figures are the percent of series components rising. (Half of the unchanged components are counted as rising.) Data are placed 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 available.
Graphs of these series are shown on page 38.
'•This is a copyrighted series used by permission; it may not be reproduced without written permission from Dun and Bradstreet,
Inc. Dun and Bradstreet diffusion indexes are based on surveys of about 1,400 business executives.
76
SEPTEMBER 1980
CYCLICAL INDICATORS
C
DIFFUSION INDEXES AND RATES OF CHANGE—Con.
H| SELECTED DIFFUSION INDEX COMPONENTS: Bas c Data and Directions of Change
Diffusion index components
1980
January
April
March
February
961. AVERAGE WORKWEEK OF PRODUCTION WORKERS, MANUFACTURING
(Average weekly hours)
+
All manufacturing industries
Percent rising of 20 components
40.3
40.1
39.8
(75)
(10)
(0)
39.1
39.0
38.7
38.5
41.2
40.8
40.9
40.7
o
Julyr
June
May
August' 3
1
39.8
39.3
39.1
(55)
(18)
(18)
o
39.1
+
(42)
39.6
(85)
Durable goods industries:
+
+
39.2
37.9
40.4
r38.8
40.2
38.6
+
40.1
39.8
r39.7
40.7
39.6
40.6
+
+
40.1
40.9
+
-
r37.6
r37.0
40.6
40.6
40.3
39.2
+
-
+
+
40.8
41.5
39.9
41.0
-
+
39.9
40.5
39.5
39.7
40.7
38.5
40.3
38.3
+
39.9
38.2
40.3
35.8
39.7
35.3
o
42.5
37.2
41.7
37.1
41.8
39.7
+
41.5
41.1
39.9
36.9
+
+
40.1
37.3
+
+
39.4
39.2
Stone, clay, and glass products
Primary metal industries
+
41.4
40.8
Fabricated metal products
Machinery, except electrical
o
+
40.9
41.6
40.8
41.5
40.7
41.3
Electrical equipment and supplies
Transportation equipment
o
o
40.5
40.9
40.3
40.8
40.0
40.4
Instruments and related products
Miscellaneous manufacturing industries
+
+
41.4
39.2
40.9
39.1
40.4
38.6
+
Food and kindred products
Tobacco manufactures
o
39.8
38.5
39.7
37.9
39.3
37.7
+
+
39.6
38.2
Textile mill products
Apparel and other textile products
+
+
41.5
36.0
41.1
35.9
40.8
35.3
+
Paper and allied products
Printing and publishing
+
+
43.0
37.8
42.9
37.4
42.6
37.2
Chemicals and allied products
Petroleum and coal products
+
42.0
36.9
+
41.9
40.7
Rubber and plastic products, n.e.c
Leather and leather products
+
+
40.7
37.2
o
40.0
37.2
o
38.0
36.9
37.5
37.6
Lumber and wood products
Furniture and fixtures
o
37.3
38.5
+
+
39.2
39.5
o
o
39.2
39.5
+
+
39.7
41.1
r40.4
38.2
+
40.0
38.4
+
+
40.6
38.6
-
r39.6
r37.3
+
+
39.8
38.8
+
39.9
37.7
-
r39.1
35.2
o
39.1
35.1
o
+
39.1
35.2
41.4
r36.8
+
+
41.5
36.9
+
+
41.8
37.0
r41.1
42.3
o
40.8
42.3
+
o
41.0
42.3
Nondurable goods industries:
+
o
+
+
Percent rising of 35 components
.
81,467
-
-
(40)
(73)
. . .
81,021
77,546
-
(31)
72,416
-
41.3
42.5
39.3
36.7
964. VALUE OF MANUFACTURERS' NEW ORDERS, DURABLE GOODS INDUSTRIES 1
(Millions of dollars)
All durable goods industries
-
-
67,328
39.2
r36.7
o
o
39.2
35.8
+
+
40.2
36.7
-
66,454
+
73,979
-
72,299
2
(43)
(34)
(17)
(51)
(71)
Primary metals
Fabricated metal products
+
-
13,533
9,092
+
13,086
10,223
-
11,141
9,738
-
9,680
8,862
-
8,373
8,333
+
-
8,947
8,076
+
+
10,811
8,621
+
-
11,637
8,223
Machinery, except electrical
Electrical machinery
+
+
15,249
10,626
+
14,247
11,440
-
14,000
11,109
-
11,651
10,737
-
12,701
10,022
+
-
13,085
9,941
+
14,177
9,677
+
13,934
10,818
Transportation equipment
Other durable goods industries
+
16,448
16,519
-
16,005
16,020
+
-
16,345
15,213
+
-
17,510
13,976
-
14,320
13,579
+
12,672
13,733
+
+
16,113
14,580
-
13,214
14,473
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
Data for most of the 35 diffusion index components are not available for publication; however, they are included in the totals
and directions of change for the six major industry groups shown here.
SEPTEMBER 1980
77
CYCLICAL INDICATORS
DIFFUSION INDEXES AND RATES OF CHANGE—Con.
Rl SELECTED DIFFUSION INDEX COMPONENTS: Basic Data and Directions of Change-Con.
1980
Diffusion index components
January
February
April
March
966. INDEX OF INDUSTRIAL PRODUCTION *
(1967=100)
+
All industrial production
3
Machinery and allied goods
Nonelectrical machinery
Electrical machinery
Transportation equipment
Instruments
Lumber, clay, and glass
Clay, glass, and stone products
Lumber and products
-
(75)
Percent rising of 24 components
Durable manufactures:
Primary and fabricated metals
Primary metals
Fabricated metal products
152.7
+
+
+
+
+
152.6
152.1
(38)
(35)
116.4
145.0
+
111.9
145.7
167.1
181.7
122.1
175.9
+
-
167.0
179.2
125.7
174.8
165.0
131.6
-
162.4
130.2
+
o
-
June
May
August* 3
July
2
148.3
-
(12)
141.4
144.0
(17)
(17)
139.8 +
140.5
(79)
(17)
113.7
145.5
-
106.4
141.4
-
96.1
133.2
90.4
125.8
80.8 +
122.7 +
83.9
125.7
166.5
179.2
123.8
173.5
+
163.2
177.0
115.1
173.8
-
162.1
171.4
109.8
171.0
158.4
166.8
110.2
169.2
156.8 +
165.5 +
110.6
166.5 +
156.9
167.2
107.3
169.0
156.4
125.3
-
148.8
105.2
-
140.8
104.5
+
+
134.5
108.7
+
+
133.3
108.9
(NA)
(NA)
Furniture and miscellaneous
Furniture and fixtures
Miscellaneous manufactures
+
160.8
153.8
-
159.2
151.6
+
+
159.5
152.8
-
157.1
151.2
-
149.5
147.3
143.1
143.7
138.3
142.0
Nondurable manufactures:
Textiles, apparel, and leather
Textile mill products
. .
Apparel products
Leather and products
+
+
143.4
131.5
74.2
+
+
144.0
133.8
73.3
+
142.0
136.1
72.8
-
139.9
131.3
69.9
+
137.1
128.6
70.1
133.6
128.1
68.5
131.8
(NA)
66.0
Paper and printing
Paper and products
Printing and publishing
+
+
157.4
138.9
+
153.6
139.9
152.7
139.2
-
148.2
136.5
-
145.7
135.5
146.2
134.9
142.5 +
134.5 +
143.7
134.9
Chemicals, petroleum, and rubber
Chemicals and products
Petroleum products
Rubber and plastics products
+
+
+
218.0
147.5
265.5
+
217.4
144.6
266.8
213.6
140.7
264.4
-
-
189.9
131.1
-
199.2
133.0
248.1
191.1
132.0
-
209.1
137.4
261.8
242.2
238.6
(NA)
127.5
(NA)
Foods and tobacco
Foods
Tobacco products
+
+
148.5
118.7
+
+
149.0
120.0
+
+
149.3
122.2
-
147.8
121.9
+
-
149.5
116.2
149.0
113.9
147.5
(NA)
(NA)
(NA)
+
141.0
129.9
+
136.0
130.4
+
+
137.2
131.8
+
+
143.4
132.5
+
+
145.0
133.9
+
+
137.6
144.6
-
136.6
142.3
132.7
136.0
-
123.5
133.1
-
120.8
128.1
Mining:
Coal
Oil and gas extraction
Metal, stone, and earth minerals
Metal mining
Stone and earth minerals
+
+
150.0
133.8
119.8
123.9
+
(NA)
141.6
149.8 +
134.8 +
90.5
121.7
(NA)
(NA)
(NA)
150.7
135.3
(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.
x
Data are seasonally adjusted by the source agency,
2
Revised. See "New Features and Changes for This Issue," page Hi,
3
Where actual data for separate industries are not available,, estimates are used to compute the percent rising.
78
SEPTEMBER
1980
CYCLICAL INDICATORS
C I
DIFFUSION INDEXES AND RATES OF CHANGE—Con.
JRJ SELECTED DIFFUSION INDEX COMPONENTS: Basic Data and Directions of Change-Con.
Diffusion index components
1980
January
February
March
April
May
June
August
July
i
September
967. INDEX OF INDUSTRIAL MATERIALS PRICES 2
Industrial materials price index (1967=100) . . . .
+ 316.2
+
(50)
Percent rising of 13 components
322.5
- 316.9 -
(73)
(62)
301.9 (12)
278.5 -
(15)
267.5
+
277.6
+
(54)
(0)
292.1
+
(77)
297.8
(58)
Dollars
+
0.971
2.141
-
0.346
0.763
+
+ 96.750
106.648
+100.000
110.230
-
(pound). .
(kilogram). .
-
7.805
17.207
+
+
8.368 18.448
(pound). .
(kilogram). .
o
0.375
0.827
+
0.380
0.838
+
(yard). .
(meter). .
-
0.404
0.442
-
0.385
+
(pound). .
(kilogram). .
+
0.726
+
Print cloth
(yard). .
(meter). .
o
Wool tops
(pound). .
(kilogram). .
o
Lead scrap
(pound). .
(kilogram). .
-
Steel scrap
(U.S. ton). .
(metric ton). .
Copper scrap
Tin
Zinc
Burlap
Cotton
Hides
Rosin
Tallow
0.346
0.763
o
7.910
17.438
0.421
1.601
0.810
1.786
-
0.625
0.684
+
0.651
0.712
+
(pound). .
(kilogram). .
+ 3.150
+
3.200
7.055
+
(pound). .
(kilogram). .
+
0.745
-
6.944
0.825
-
1.642
- 40.000
88.184
+ 42.000
92.593
+
(pound). .
(kilogram). .
+
+
-
(pound). .
(kilogram). .
- 0.180
0.743
1.638
0.397
0.833
0.170
0.375
0.688 1.517
0.679
1.497
0.760
1.675
-
0.732
1.614
-
0.697
1.537
0.364
0.802
0.313 0.690
0.220
0.485
0.216
0.476
+ 0.218
0.481
+
0.256
0.564
+
0.293
0.646
71.000 78.263
63.000
69.445
+ 68.000
74.956
+ 78.000
85.979
+
88.000
97.002
7.918 +
17.456
8.063 17.776
7.810
17.218
-
7.742
17.068
o
7.742
17.068
+
7.930
17.482
0.390 0.860
0.385 0.849
0.375 0.827
0.368
0.811
-
0.355
0.783
+
0.359
0.791
+
0.373
0.822
0.389 0.425
0.362 0.396
0.350 0.383
0.337
0.369
-
0.324
0.354
+ 0.331
0.362
-
0.324
0.354
0.788 -
0.787 1.735
0.779 1.717
0.725
1.598
+
0.783
1.726
+
0.857
1.889
+
1.737
0.891
1.964
0.682 +
0.746
0.695 0.760
0.691 0.756
0.690
0.755
-
0.675
0.738
-
0.668
0.731
-
0.660
0.722
3.500 -
3.460 7.628
3.250 7.165
3.200
7.055
o
3.200
7.055
+
3.400
7.496
+
3.433
7.568
0.490 1.080
0.405 0.893
0.380
0.838
+
0.476
1.049
+
0.522
1.151
-
0.483
1.065
48.000 o 48.000 46.500 105.821
105.821
102.514
45.000
99.207
o 45.000
99.207
o 45.000
99.207
o
45.000
99.207
0.680
1.499
-
0.678
1.495
+
0.688
1.517
+
0.737
1.625
0.152
0.335
+
0.167
0.368
+ 0.187
0.412
-
0.183
0.403
98.000 91.800 108.025
101.191
0.592 -
1.305
0.750
1.653
1.836
-
0.674 +
1.486
+
1.614
0.732 -
7.716
1.819
(100 pounds). .
(100 kilograms). .
Rubber
0.872
1.922
+
0.181 0.399
0.711
1.567
0.180 0.397
0.682
1.504
0.168 0.370
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 2, 9, and 16.
2
Data are not seasonally adjusted. Components are converted to metric units by the Bureau of Economic Analysis.
SEPTEMBER
ItCII
1980
79
OTHER IMPORTANT ECONOMIC MEASURES
NATIONAL INCOME AND PRODUCT
GNP AND PERSONAL INCOME
50. Gross national product in 1972 dollars
200. Gross national product in current dollars
and
quarter
a. Total
(Ann. rate,
bil.dol.)
a. Total
c. Percent
change at
annual rate
. Difference
b. Difference
(Ann. rate,
bil.dol.)
(Ann. rate,
bil.dol.)
c. Percent
change at
annual rate
(Ann. rate,
bil.dol.)
217. Per capita
GNP in 1972
dollars
213. Final sales
in 1972 dollars
(Ann. rate,
dollars)
(Ann. rate,
bil.dol.)
1977
First quarter ..
Second quarter
Third quarter..
Fourth quarter
22.7
7.4
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
4.0
-8.3
11.0
7.0
1.1
11.9
10.5
1,430.6
1,422.3
1,433.3
1,440.3
2.0
6,512
6,460
6,494
6,509
1,418.4
1,404.1
1,426.2
1,439.0
10.8
rO.l
1,444.7
rl,408.6
4.4
r-36.1
1.2
r-9.6
6,514
r6.337
1,444.4
rl,406.0
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
2,329.8
2,396.5
2,456.9
56.9
37.7
66.7
60.4
10.6
6.7
2,520.8
r2,521.3
63.9
rO.5
15.5
1978
First quarter ..
Second quarter
Third quarter..
Fourth quarter
1979
First quarter ..
Second quarter
Third quarter..
Fourth quarter
-2.3
3.1
1980
First quarter ..
Second quarter
Third quarter..
Fourth quarter
GNP AND PERSONAL INCOME-Con.
Year
and
quarter
PERSONAL CONSUMPTION EXPENDITURES
230. Total in current
dollars
Disposable personal income
224. Current dollars 225. Constant
(1972) dollars
(Ann. rate,
bil.dol.)'
(Ann. rate,
bil.dol.)
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.)
(Ann. rate,
bil.dol.)
1977
First quarter ..
Second quarter
Third quarter..
Fourth quarter
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
185.3
200.3
203.5
212.1
139.3
147.8
147.5
152.1
1,572.2
1,601.7
1,640.0
1,683.1
996.6
993.0
993.4
996.2
4,536
4,510
4,501
4,502
1,454.2
1,475.9
1,528.6
1,580.4
921.8
915.0
925.9
935.4
213.8
208.7
213.4
216.2
150.2
144.8
146.9
146.7
1,737.4
rl,755.9
998.5
r983.1
4,502
r4,423
1,629.5
rl,626.6
936.5
r910.8
220.2
195.7
145.4
127.4
1978
First quarter ..
Second quarter
Third quarter..
Fourth quarter
1979
First quarter ..
Second quarter
Third quarter..
Fourth quarter
1980
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 1980
BCIt
OTHER IMPORTANT ECONOMIC MEASURES
NATIONAL INCOME AND PRODUCT—Con.
^M GROSS PRIVATE DOMESTIC INVESTMENT
Q PERSONAL CONSUMPTION EXPENDITURES-Con.
Year
and
quarter
236. Nondurable
goods in current
dollars
(Ann. rate,
bil. dol.)
238. Nondurable
goods in 1972
dollars
(Ann. rate,
bil. dol.)
237. Services in
current dollars
(Ann. rate,
bil. dol.)
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,
bii.dol.)
1977
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
581.2
604.7
630.7
348.1
344.1
349.2
355.1
669.3
686.0
710.6
733.5
423.5
426.1
429.9
433.6
373.8
395.4
392.3
387.2
217.2
221.7
214.2
207.7
354.6
361.9
377.8
381.7
204.9
203.5
207.1
206.3
652.0
r654.1
354.1
r347.8
757.3
r776.9
437.0
r435.6
387.7
r368.5
203.2
H88.6
383.0
r357.1
202.9
r!86.0
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
1980
First quarter
. ...
Second quarter
Third quarter
Fourth quarter
B
Year
and
quarter
GROSS PRIVATE
DOMESTIC INVEST.-Con.
245. Change in
business inventories in current
dollars
(Ann. rate,
bil. dol.)
R9 GOVERNMENT PURCHASES OF GOODS AND SERVICES
30. Change in
business inventories in 1972
dollars
260. Total in
current dollars
(Ann. rate,
bil. dol.)
(Ann. rate,
bil. dol.)
261. Total in
1972 dollars
(Ann. rate,
bil. dol.)
262. Federal
Government in
current dollars
263. Federal
Government in
1972 dollars
(Ann. rate,
bil. dol.)
(Ann. rate,
bil. dol.)
266. State and
local government
in current dollars
267. State and
local government
in 1972 dollars
(Ann. rate,
bii.dol.)
(Ann. rate,
bii.dol.)
1977
First quarter
Second quarter .
Third quarter
Fourth quarter .
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
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
33.4
14.5
12.3
18.1
460.1
466.6
477.8
501.2
274.7
272.4
273.1
277.1
163.6
161.7
162.9
178.4
101.1
101.1
296.5
304.9
314.9
322.8
173.6
174.3
175.6
176.0
517.2
528.3
280.0
r280.9
186.2
193.3
104.3
r!06.7
331.0
335.0
175.7
174.3
98.4
1978
First quarter
Second quarter
Third quarter
Fourth quarter
1979
First quarter
Second quarter
Third quarter
Fourth quarter
5.6
7.1
1.4
98.1
97.4
1980
First quarter
Second quarter
Third quarter
Fourth quarter
4.7
rll.4
0.3
r2.6
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.
SEPTEMBER 1980
ItCII
81
OTHER IMPORTANT ECONOMIC MEASURES
NATIONAL INCOME AND PRODUCT—Con.
I
FOREIGN 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.)
NATIONAL INCOME
AND ITS COMPONENTS
220. National income in current
dollars
280. Compensation of
employees
257. Constant
(1972) dollars
253. Current
dollars
(Ann. rate,
bil.dol.)
(Ann. rate
bil.dol.)
(Ann. rate,
bil.dol.)
(Ann. rate,
bil.dol.)
1977
First quarter ..
Second quarter
Third quarter..
Fourth quarter
96.5
99.4
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
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
-11.9
17.0
13.2
20.1
20.1
238.5
243.7
267.3
280.4
117.0
116.0
122.2
124.3
234.4
251.9
269.5
292.4
100.0
102.9
102.1
104.1
1,869.0
1,897.9
1,941.9
1,990.4
1,411.2
1,439.7
1,472.8
1,513.2
-13.6
r-2.2
25.0
r28.3
308.1
r307.0
131.7
H28.3
321.7
r309.2
106.7
r99.9
2,035.4
r2,024.6
1,555.2
1,567.2
-9.2
-6.0
-6.3
170.5
178.6
180.1
174.2
100.5
-18.1
11.1
10.9
13.2
5.8
-22.2
-7.6
-6.8
-4.5
5.3
12.3
13.3
12.9
4.0
1978
First quarter ..
Second quarter
Third quarter..
Fourth quarter
1979
First quarter ..
Second quarter
Third quarter..
Fourth quarter
-8.1
-2.3
1980
First quarter ..
Second quarter
Third quarter..
Fourth quarter
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
prof its with
inventory valuation
and capital consumption adjustments
(Ann. rate,
bil. dolj
SAVING
288. Net interest
(Ann. rate,
bil.dol.)
290. Gross saving
(private and government)
(Ann. rate,
bil.dol.)
292. Personal
saving
295. Business
saving
(Ann. rate,
bil.dol.]
(Ann. rate,
bil. dol.)
1977
First quarter ..
Second quarter
Third quarter..
Fourth quarter
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
129.3
130.3
134.5
27.3
26.8
26.6
27.0
178.9
176.6
180.8
176.4
122.6
125.6
131.5
139.2
362.2
374.3
367.3
351.9
266.0
274.6
281.9
281.0
79.2
85.9
70.3
59.7
130.0
r!20.5
27.0
27.3
175.0
r!52.8
148.1
r!56.8
346.6
r345,5
279.2
r287.6
64.4
r86.3
96.9
97.6
98.6
1978
First quarter ..
Second quarter
Third quarter..
Fourth quarter
1979
First quarter ..
Second quarter
Third quarter..
Fourth quarter
1980
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 1980
ltd*
OTHER IMPORTANT ECONOMIC MEASURES
NATIONAL INCOME AND PRODUCT—Con.
IjJ SHARES OF GNP AND NATIONAL INCOME
IRj SAVING-Con.
Year
and
quarter
298. Government
surplus or deficit,
total
(Ann. rate,
bil.dol.)
293. Personal
saving rate
(percent of disposable personal
income)
Percent of Gross National Product
235. Personal consumption expenditures, total
(Percent)
(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
I
1977
First Quarter
Second quarter
Third quarter
Fourth quarter
-13.1
-16.6
-23.5
-24.8
4.2
5.1
5.4
5.1
64.2
63.5
63.2
63.9
-19.2
5.0
2.3
10.8
5.3
5.0
4.8
4.7
15.8
12.7
14.0
10.0
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
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
5.0
5.4
4.3
3.5
63.4
63.3
63.8
64.3
10.6
10.7
10.9
10.8
4.9
4.8
4.8
4.7
0.8
1.4
0.6
0.2
-0.3
-0.1
-0.5
3.7
64.6
64.5
10.8
10.6
4.4
3.5
0.2
0.5
-0.5
-0.1
9.9
9.9
1978
First quarter
Second quarter
Third quarter
Fourth quarter
1979
First quarter
Second quarter
Third quarter
Fourth quarter
0.2
1980
First quarter
Second quarter
Third quarter
Fourth quarter
1.7
r-29.6
r4.9
1M SHARES OF GNP AND NATIONAL 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
employees
(Percent)
283. Proprietors'
income with IVA
and CCA 1
(Percent)
285. Rental income
of persons with
CCA
1
(Percent)
287. Corporate
profits with IVA
and CCA 1
289. Net interest
(Percent)
(Percent)
1977
First quarter
Second quarter
Third quarter
Fourth quarter
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
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
7.1
6.9
6.8
7.3
12.9
13.1
13.1
13.1
75.5
75.9
75.8
76.0
6.9
6.8
6.7
6.8
1.5
1.4
1.4
1.4
7.4
7.7
13.1
13.3
6.4
r77.4
1.3
1.3
9.4
9.9
10.4
9.6
6.1
6.2
6.2
6.2
1978
First quarter
Second quarter
Third quarter
Fourth quarter
8.7
9.9
10.0
10.2
6.3
6.3
6.4
6.5
1979
First quarter
Second quarter
Third quarter
Fourth quarter
9.6
9.3
9.3
8.9
6.6
6.6
6.8
7.0
8.6
7.3
7.7
1980
First quarter . . . .
Second quarter
Third quarter . . . .
Fourth quarter
76.4
r6.0
r7.5
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.
X
IVA, inventory valuation adjustment; CCA, capital consumption adjustment.
SEPTEMBER 1980
83
OTHER IMPORTANT ECONOMIC MEASURES
B I
PRICES, WAGES, AND PRODUCTIVITY
Qj PRICE MOVEMENTS
Implicit price deflator,
gross national product
Year
and
month
310. Index
(1972=100)
Fixed weighted price index,
gross business product
310c. Change 311. Index
over 1 -quarter
spans1
(Ann. rate,
percent)
(1972=100)
31 1c. Change
over 1-quarter
spans1
(Ann. rate,
percent)
Consumer prices, all items
320. index ® 320c. Change
over 1-month
spans1
(1967=100)
(Percent)
Consumer prices, food
320c. Change
over 6-month
spans1
(Ann. rate,
percent)
322. Index
(1967=100)
322c. Change
over 1-month
spans1
322c. Change
over 6-month
spans1
(Percent)
(Ann. rate,
percent)
1978
6.3
January
February
March
147.0
April
May
June
iso.'s
July
August
September
153.4
10.6
October
November
December
0.6
0.6
0.8
8.1
8.5
9.2
200.4
202.1
204.5
0.9
0.8
1.2
12.2
12.7
14.6
10.5
191.5
193.3
195.3
0.7
0.8
0.9
9.3
9.3
9.5
207.2
209.6
212.7
1.3
1.2
1.5
13.5
12.8
11.8
8.8
196.7
197.8
199.3
0.7
0.6
0.9
9.7
9.4
8.9
213.5
214.6
216.2
0.4
0.5
0.7
11.0
10.1
9.1
8.7
200.9
202.0
202.9
0.9
0.6
0.6
9.5
10.6
10.9
218.3
219.9
222.2
1.0
0.7
1.0
11.4
13.3
13.8
10.0
204.7
207.1
209.1
0.9
1.1
1.0
11.1
12.0
12.9
225.3
228.4
230.6
1.4
1.4
1.0
12.9
12.8
11.1
10.1
211.5
214.1
216.6
1.0
1.0
1.0
13.2
12.9
13.3
232.0
233.5
234.2
0.6
0.6
0.3
9.1
6.3
6.4
10.4
218.9
221.1
223.4
1.1
1.0
1.2
13.4
13.3
13.8
235.3
235.5
237.9
0.5
0.1
1.0
6.8
6.9
9.3
8.4
225.4
227.5
229.9
1.0
1.0
1.2
14.5
15.3
15.9
239.8
241.4
244.8
0.8
0.7
1.4
8.2
8.0
7.9
11.2
233.2
236.4
239.8
1.4
1.4
1.4
15.7
15.4
14.8
244.8
244.7
247.1
0.0
0.0
1.0
7.3
6.6
4.7
10.4
242.5
244.9
247.6
0.9
0.9
1.0
11.7
10.2
248.4
249.2
250.5
0.5
0.3
0.5
6.7
10.7
247.8
249.4
0.0
0.7
252.9
257.5
1.0
1.8
155^2
8.7
. .
187.2
188.4
189.8
152^6
7.2
.
6.6
148*.2
158^5
156!)
1979
January
February
March
16CL2
April
May
June
16X8
9.3
162^3
9.3
166.*3
. .
July
August
September
167!2
October
November
December
17C)!6
8.5
17CK4
8.4
173.9
1980
January
February
March
9.5
174!s
April
May
June
July
August
September
178^6
rlO.7
rl79*6
. .
183.'l
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 pages 48 and 49.
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.
SEPTEMBER 1980
ito
OTHER IMPORTANT ECONOMIC MEASURES
PRICES, WAGES, AND PRODUCTIVITY—Con.
Q| PRICE MOVEMENTS-Con.
Producer prices, all commodities
Year
and
month
330. Index®
330c. Change
over 1 -month
spans1 (u)
(1967=100)
(Percent)
Producer prices, crude materials
Producer prices, industrial commodities
330c. Change
over 6-month
spans1 (u)
335. Index®
335c. Change
over 1 -month
spans1 ®
(Ann. rate,
percent)
(1967=100)
(Percent)
335c. Change
over 6-month
spans1 @
(Ann. rate,
percent)
331. Index
(1967=100)
331c. Change
over 1-month
spans1
33 Ic. Change
over 6-month
spans1
(Percent)
(Ann. rate,
percent)
1978
January
February
March
200.1
202.1
203.7
1.0
1.0
0.8
10.7
11.4
11.8
201.6
202.9
204.1
0.8
0.6
0.6
7.2
8.3
8.9
221.6
224.2
229.0
1.2
1.2
2.1
24.6
19.1
21.4
April
May
June
206.5
208.0
209.6
1.4
0.7
0.8
10.9
8.6
8.7
206.1
207.4
208.7
1.0
0.6
0.6
8.6
8.6
8.4
234.5
235.6
241.3
2.4
0.5
2.4
19.9
17.0
16,1
July
August
September
210.7
210.6
212.4
0.5
0.0
0.9
8.3
7.5
7.7
210.1
211.4
212.5
0.7
0.6
0.5
8.5
8.5
8.3
242.6
242.5
246.8
0.5
0.0
1.8
16.6
17.4
13.7
October
November
December
214.9
215.7
217.5
1.2
0.4
0.8
9.8
13.2
13.9
214.7
216.0
217.2
1.0
0.6
0.6
9.6
10.8
12.5
253,2
255.3
257.3
2.6
0.8
0.8
17.2
23.1
23.4
220.8
224.1
226.7
1.5
1.5
1.2
14.5
15.7
15.3
220.0
222.5
225.4
1.3
1.1
1.3
13.8
15.0
16.1
262.6
269.1
274.2
2.1
2.5
1.9
16.4
16.1
17.1
230.0
232.0
233.5
1.5
0.9
0.6
15.1
13.1
14.0
229.0
231.6
234.0
1.6
1.1
1.0
16.5
16.9
17.4
273.2
275.1
278.4
July
August
September
236.9
238.3
242.0
1.5
0.6
1.6
14.0
13.5
14.4
237.5
240.6
244.2
1.5
1.3
1.5
18.2
17.1
17.0
October
November
December
245.6
247.2
249.7
1.5
0.7
1.0
15.8
19.2
17.1
249.0
250.6
253.1
2.0
0.6
1.0
254.9
260.2
261.9
2.1
2.1
0.7
H4.5
13.8
12.8
260.6
265.9
268.6
12.0
10.2
1979
January
February
March
April
May
June
. . . .
-0.4
0.7
1.2
17.5
12.3
12.9
284.6
285.2
291.4
2.2
0.2
2.2
16.2
17.7
17.4
20.4
22.1
21.0
294.5
298.4
301.7
1.1
1.3
1.1
10.7
16.2
3.0
2.0
1.0
H8.7
17.1
16.3
299.5
307.5
300.9
rl.O
rO.O
11.8
8.8
0.7
r290.4
294.1
295.1
1.0
0.6
313.6
331.6
6.6
1980
January
February
March
April
May
June
July
August
September
r2"62.8
263.7
265.2
rO.3
rO.3
0.6
r271.3
271.2
273.0
269.8
273.1
1.7
1.2
275.6
277.3
-0.7
2.7
-2.1
-3.5
1.3
0.3
-2.8
-2.9
-4.3
9.6
16.3
6.3
5.7
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:
the 4th month.
SEPTEMBER 1980
1-month changes are placed on the 2d month and 6-month changes are placed on
85
OTHER IMPORTANT ECONOMIC MEASURES
B I
PRICES, WAGES, AND PRODUCTIVITY—Con.
I
I
I PRICE MOVEMENTS-Con.
Producer prices, intermediate materials
Year
and
month
332. Index
332c. Change
over 1 -month
spans1
(1967=100)
(Percent)
Producer prices, finished consumer goods
Producer prices, capital equipment
332c. Change
over 6-month
spans1
(Ann. rate,
percent)
333. Index
(1967=100)
333c. Change
over 1 -month
spans1
(Percent)
333c. Change
over 6-month
spans1
(Ann. rate,
percent)
334c. Change
over 1-month
spans1
334. Index
(1967=100)
334c. Change
over 6-month
spans1
(Ann. rate,
percent)
(Percent)
1978
January
February
March
208.2
209.7
210.9
0.8
0.7
0.6
7.6
7.5
7.9
192.2
193.3
194.5
0.6
0.6
0.6
7.7
7.6
8.1
184.5
186.1
187.2
0.6
0.9
0.6
April
May
June
211.9
213.1
214.5
0.5
0.6
0.7
6.7
6.9
7.1
195.6
197.0
198.6
0.6
0.7
0.8
8.4
8.4
8.4
189.5
190.8
192.2
1.2
0.7
0.7
July
August
September
215.1
216.8
218.3
0.3
0.8
0.7
8.6
9.3
9.3
200.1
201.3
202.5
0.8
0.6
0.6
7.7
8.4
8.0
193.7
194.3
195.7
0.8
0.3
0.7
October
November
December
220.8
222.8
224.3
1.1
0.9
0.7
11.3
11.8
12.6
203.0
205.1
206.4
0.2
1.0
0.6
8.6
9.1
9.2
197.5
198.6
201.1
0.9
0.6
1.3
10.6
12.5
13.4
January
February
March
226.9
229.2
231.6
1.2
1.0
1.0
13.3
13.4
14.2
208.5
210.3
211.6
1.0
0.9
0.6
9.9
9.9
203.7
206.1
208.4
1.3
1.2
1.1
12.7
12.7
11.1
April
May
June
235.0
237.3
239.7
1.5
1.0
1.0
15.3
16.2
17.2
214.0
215.0
216.4
1.1
0.5
0.7
9.5
7.4
7.6
209.7
210.8
212.0
0.6
0.5
0.6
11.2
12.2
13.7
243.6
247.1
250.7
1.6
1.4
1.5
17.7
17.6
17.8
218.2
217.9
219.5
0.8
7.0
7.5
7.9
214.8
218.3
222.2
1.3
1.6
1.8
14.9
16.9
17.6
255.0
257.3
260.2
1.7
0.9
1.1
20.4
21.7
19.4
221.4
222.9
224.8
0.9
0.7
0.9
9.6
11.4
11.7
224.8
227.9
229.9
1.2
1.4
0.9
18.3
18.5
18.0
267.3
272.6
273.9
2.7
2.0
0.5
r!5.7
228.4
230.0
232.0
1.6
0.7
0.9
H3.8
12.1
12.2
233.6
237.6
241.4
1.6
1.7
1.6
r!5.6
r274.3
274.9
277.1
rO.l
rO.2
0.8
9.2
7.1
r236.2
236.0
238.1
r-0.1
0.9
11.6
12.1
r241.7
242.1
243.8
rO.l
rO.2
279.3
282.1
0.8
1.0
241.3
243.5
1.3
0.9
248.2
252.7
1.8
1.8
9.3
9.2
9.8
10.2
9.0
9.3
8.6
8.3
9.5
1979
July
August .
September
...
October
November
December
-0.1
0.7
11.1
1980
January
February
March .
April
May
June
July
August
September
....
14.1
13.4
rl.8
12.8
12.5
12.9
13.1
0.7
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:
the 4th month.
1-month changes are placed on the 2d month and 6-month changes are placed on
SEPTEMBER
1980
OTHER IMPORTANT ECONOMIC MEASURES
B
I
PRICES, WAGES, AND PRODUCTIVITY—Con.
Bl WAGES AND PRODUCTIVITY
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
spans2
(Ann. rate,
percent)
341. Index
(1967=100)
341c. Change
over 1 -month
spans2
(Percent)
341c. Change
over 6-month
spans2
(Ann. rate,
percent)
345. Index
(1967=100)
345c. Change
over 1-quarter
spans2
(Ann. rate,
percent)
345c. Change
over 4-quarter
spans2
(Ann. rate,
percent)
1978
205.8
206.5
208.1
1.1
0.3
0.8
8.5
8.6
9.0
109.6
109.3
109.4
0.5
-0.3
0.1
209.9
211.1
212.5
0.9
0.6
0.7
8.1
8.4
8.3
109.6
109.3
109.1
0.2
-0.3
-0.2
-0.9
-0.7
-1.0
2HA
July
August
September
214.0
215.0
216.6
0.7
0.5
0.7
8.1
8.0
8.2
109.1
109.0
108.9
0.0
-0.1
-0.1
-1.5
-1.3
-0.9
228.9
October
November
December
218.3
219.4
221.0
0.8
0.5
0.7
8.2
8.5
8.2
108.7
108.6
108.6
-0.2
-0.1
0.0
-1.4
-2.1
-2.9
233.*7
January
February
March
222.6
224.0
225.2
0.7
0.6
0.5
7.8
7.6
7.5
108.4
107.8
107.3
-0.2
-0.6
-0.5
-3.3
-4.2
-4.9
239^5
April
May
June
226.7
227.6
229.2
0.7
0.4
0.7
7.5
7.6
8.2
106.9
106.3
105.9
-0.4
-0.6
-0.4
-5.2
-4.9
-4.5
244 !2
July
August
September
230.8
232.3
234.3
0.7
0.6
0.9
7.5
8.8
9.1
105.5
105.2
104.9
-0.4
-0.3
-0.3
-5.1
-4.0
-4.0
249! 2
October
November
December
235.0
237.3
239.4
0.3
1.0
0.9
8.4
8.9
9.6
104.2
104.1
103.8
-0.7
-0.1
-0.3
-5.3
-5.5
-5.5
254^6
240.3
242.4
245.2
0.4
0.9
1.2
9.8
9.4
r9.8
102.7
102.2
102.0
-1.1
-0.5
-0.2
-5.2
-5.2
-4.4
261 !i
April
May
June
2'46.2
248.3
r250.9
0.4
0.9
1.0
r9.7
p9.0
101.4
101.4
101.5
-0.6
0.0
0.1
July
August
September
r251.7
p253.1
rO.3
pO.6
rlOl.8
plOl.7
rO.3
p-0.1
January
February
March
April
May
June
. . .
0.6
0.3
0.0
11.4
22CL5
8^4
7.3
8^9
8.4
8^6
8.6
s'.s
1979
10.2
8\9
8.1
8.9
8.5
9.0
9.0
9'.7
1980
January
February
March
r-1.7
p-1.0
10.5
10.9
267^8
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 49 and 50.
Adjusted for overtime (in manufacturing only) and interindustry employment shifts.
2
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 middle month
of the 3d quarter.
SEPTEMBER 1980
87
OTHER IMPORTANT ECONOMIC MEASURES
B I
PRICES, WAGES, AND PRODUCTIVITY—Con.
R9 WAGES AND PRODUCTIVITY-Con.
Average hourly compensation, all employees,
nonfarm business sector-Con.
Year
and
month
Real compensation
346. Index
(1967=100)
346c. Change
over 1-quarter
spans1
(Ann. rate,
percent)
346c. Change
over4-quarter
spans1
(Ann. rate,
percent)
Negotiated wage and benefit
decisions, all industries®
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
spans1
370c. Change
over 4-quarter
spans1
(Ann. rate,
percent)
(Ann. rate,
percent)
358. Index of
output per hour,
all persons,
nonfarm
business sector
(1967=100)
1978
January
February
March
ne!6
April
May
June
. .
July
August
September
ne.'o
115,'s
3.4
-2.0
-0.7
6!i
6!o
-i!i
13.2
8.2
6.8
6.0
7.2
ns!5
ii9*.i
-1.5
ne!2
6.*7
116.'/1
6!s
117.*4
-6'.7
lu.'e
-i".6
ne.'e
-\'.7
ns.'i
-i!6
ii5!6
-i!6
115.*2
1.9
2.1
5.9
6!i
119^7
. . .
October
November
December
. .
ii5!e
-0.8
-i!y
6.1
5.2
ng!8
0.3
1979
January
February .
March
115.*3
April
May
June
114J
July
August
September
112i9
October
November
December
iii!?
2.8
-0.9
5.3
-2.6
10.5
-4.2
7.8
-3.*4
-4.3
9.0
6.1
8.5
6.0
-4.*5
-4.0
-i!i
ns!9
ns!3
IU.'B
-3.1
-2.0
-1.4
-0.3
117.'7
1980
January
February
March
n6!i
April
May
June
logii
-5.5
-2.5
p8.6
plO.l
p6.4
p6.8
n?!?
iiy'.i
-0.3
114.'9
-2.0
114.1
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 ®. 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.
SEPTEMBER 1980
OTHER IMPORTANT ECONOMIC MEASURES
C
I
LABOR FORCE, EMPLOYMENT, AND UNEMPLOYMENT
Qj CIVILIAN LABOR FORCE AND MAJOR COMPONENTS
Civilian labor force
Year
and
month
441. Total
442. Em-
ployed
(Thous.)
(Thous.)
Labor force participation rates
451. Males
20 years
and over
452. Females 453. Both
20 years
sexes, 16-19
and over
years of age
(Percent)
(Percent)
(Percent)
448. Num-
Number unemployed
37. Total
(Thous.)
444. Males
445. Females 446. Both
20 years and 20 years and sexes, 16-19
over
over
years of age
(Thous.)
(Thous.)
(Thous.)
447. Fulltime
workers
(Thous.)
ber employed
part-time
for economic
reasons
(Thous.)
1978
January
February
March
99,118
99,009
99,281
92,813
92,921
93,128
79.8
79.7
79.8
48.9
48.8
49.0
57.1
56.8
56.8
6,305
6,088
6,153
2,437
2,361
2,379
2,314
2,126
2,171
1,554
1,601
1,603
4,948
4,812
4,799
3,071
3,227
3,204
April
May .
June
99,819
100,242
100,458
93,763
94,116
94,556
79.8
79.9
79.8
49.4
49.5
49.6
57.3
58.3
58.3
6,056
6,126
5,902
2,274
2,278
2,171
2,219
2,295
2,275
1,563
1,553
1,456
4,644
4,802
4,581
3,281
3,226
3,329
July
August
September
100,656
100,731
100,944
94,428
94,802
94,973
79.7
79.7
79.6
49.8
49.6
50.0
58.6
59.1
58.3
6,228
5,929
5,971
2,190
2,177
2,180
2,425
2,219
2,241
1,613
1,533
1,550
4,887
4,612
4,647
3,266
3,256
3,248
October
November
December
101,189
101,610
101,815
95 401
95,728
95,831
79.6
79.9
80.0
50.0
50.1
50.1
58.6
58.5
58.5
5,788
5,882
5,984
2,139
2,110
2,198
2,107
2,215
2,212
1,542
1,557
1,574
4,475
4,491
4,609
3,231
3,163
3,082
January
February
March
102,061
102,379
102,505
96,157
96,496
96,623
80.0
80.1
79.9
50.1
50.3
50.4
58.9
58.8
58.6
5,904
5,883
5,882
2,167
2,138
2,164
2,195
2,202
2,212
1,542
1,543
1,506
4,514
4,565
4,539
3,203
3,176
3,211
April
May
June
102,198
102,398
102,476
96,254
96,495
96,652
79.8
79.7
79.7
50.2
50.4
50.3
58.2
57.9
57.7
5,944
5,903
5,824
2,190
2,130
2,169
2,199
2,208
2,196
1,555
1,565
1,459
4,637
4,533
4,515
3,279
3,283
3,284
July
August
September
103,093
103,128
103,494
97,184
97,004
97,504
79.9
79.8
79.9
50.8
51.0
50.9
57.9
56.3
58.2
5,909
6,124
5,990
2,254
2,286
2,282
2,160
2,304
2,164
1,495
1,534
1,544
4,617
4,727
4,715
3,274
3,298
3,167
October
November
December
103,595
103,652
103,999
97,474
97,608
97,912
79.7
79.5
79.5
50.9
50.9
51.1
57.9
58.1
58.6
6,121
6,044
6,087
2,317
2,335
2,303
2,250
2,197
2,257
1,554
1,512
1,527
4,796
4,770
4,791
3,315
3,392
3,519
January
February
March
104,229
104,260
104,094
97,804
97,953
97,656
79.4
79.6
79.4
51.4
51.3
51.0
58.2
57.4
57.3
6,425
6,307
6,438
2,577
2,507
2,696
2,304
2,254
2,255
1,545
1,547
1,487
5,046
4,942
5,168
3,513
3,406
3,418
April
May
June
104,419
105,142
104,542
97,154
96,988
96,537
79.5
79.9
79.4
51.5
51.5
51.3
56.3
57.9
56.5
7,265
8,154
8,006
3,246
3,671
3,710
2,534
2,670
2,596
1,485
1,813
1,700
5,875
6,740
6,621
3,816
4,349
3,999
105,203
105,025
96,996
97,006
79,5
79.5
51.6
51.7
57.4
55.2
8,207
8,019
3,730
3,682
2,702
2,628
1,774
1,709
6,781
6,600
4,113
4,148
. .
1979
1980
July
August
September
....
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.
SEPTEMBER 1980
OTHER IMPORTANT ECONOMIC MEASURES
D|
GOVERNMENT ACTIVITIES
[] RECEIPTS AND EXPENDITURES
Federal Government1
Year
and
month
Q 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,
bit. 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.)
1978
-49li
397!8
447!3
3CL2
319!6
288.8
10,537
10,659
10,155
4,853
4,741
4,909
57,304
58,401
58,986
2,735
2,529
4,393
-2^.6
424. '8
449.4
29'.6
330^5
301 !6
10,242
10,793
10,094
4,970
6,204
7,081
59,348
60,723
60,549
3,761
3,946
3,237
July
August
September
-2CK4
442 '.1
462 '.6
22.7
33K8
309 '.1
10,327
10,278
10,256
3,928
4,924
4,855
61,833
62,028
62,730
2,157
3,214
3,279
October
November
December
-16^3
463. * 5
479^7
27.'l
342! 6
315.*5
10,214
10,484
10,282
4,343
6,509
4,568
63,006
63,440
64,470
3,867
4,381
4,101
-1K7
475. '6
486.8
27!e
343.9
3ie!3
10,787
10,250
11,741
5,706
4,773
5,763
65,120
48,267
67,128
2,684
3,871
3,102
-7.6
485.' 8
492^9
19.'7
345. * 9
326J
9,297
10,935
10,926
4,936
4,720
5,117
68,883
68,468
68,976
3,181
3,640
2,464
-1K3
504^8
516J
25!3
359 '.8
334^5
12,657
11 ,052
11,965
6,135
5,282
6,364
70,252
81,542
71 ,886
2,332
3,029
4,237
-15,'7
524. '7
540 .'4
25*8
368 .*7
342 .'9
11,679
10,730
11,565
4,318
5,670
5,489
64,325
68,634
68,525
3,048
4,033
3,787
-22.9
538.4
561.3
24.6
375.3
350.6
12,563
12,419
14,757
5,515
7,152
5,781
70,088
68,497
72,961
3,352
3,680
4,594
r-49.*2
r529.9
r579.i
r!9.*5
r373.2
r353.6
13,639
14,206
12,193
7,572
7,483
7,184
73,766
74,848
75,204
4,948
5,279
3,546
12,973
(NA)
(NA)
76,366
(NA)
r4,366
p3,941
January
February
March
April
May
June
.
. .
1979
January
February
March
.
. .
April
May ..
June
July
August .
September
October
November
December
. .
1980
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 ©. 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.
90
SEPTEMBER 1980
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. Manufacdefense and
turers' invenspace 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 (u)
(Thous.)
(Thous.)
(Thous.)
564. Federal
purchases of
goods and
services
565. Federal
purchases as
a percent of
GNP
(Ann. rate,
oil. dol.)
(Percent)
Revised 1
1978
January
February
March
82.6
80.8
83.9
6,441
6,606
6,626
34,633
34,511
36,108
8,493
8,271
8,375
2,532
2,652
2,795
1,120
1,125
1,138
2,065
2,062
2,058
982
982
982
97!6
i!9
April
May
June
84.9
84.9
85.6
6,736
6,828
6,804
37,150
38,382
38,914
9,056
8,217
9,072
2,719
2,714
2,705
1,143
1,162
1,173
2,054
2,046
2,057
982
988
1,000
98.*2
4^7
July
August
September
87.5
87.9
89.0
6,901
6,896
6,905
38,467
38,993
39,499
8,394
9,638
8,592
2,604
2,688
2,773
1,184
1,193
1,195
2,062
2,062
2,062
1 ,002
994
980
99.0
i.'e
October
November
December
89.3
90.3
91.4
7,013
7,004
7,170
40,660
42,293
43,563
9,026
8,762
9,407
2,706
2,748
2,832
1,207
1,219
1,236
2,058
2,050
2,041
981
981
978
10l'.2
4^5
January
February
March
92.3
92.4
93.0
7,397
7,485
7,586
43,409
44,515
44,588
9,645
9,452
9,525
2,838
2,765
3,029
1,242
1,262
1,278
2,040
2,030
2,026
972
971
968
103.4
4^5
April
May
June
92.1
92.4
92.2
7,573
7,806
7,953
44,854
45,670
45,138
9,299
9,781
9,425
2,915
2,824
2,996
1,283
1,289
1,299
2,022
2,018
2,024
968
972
979
106.'o
4*.5
July
August
September
92.9
91.9
93.8
8,048
8,178
8,553
44,656
44,697
46,000
10,499
10,103
9,982
2,814
2,988
2,934
1,310
1,312
1,324
2,027
2,024
2,027
982
974
960
109.0
4.*5
October
November
December
95.4
96.4
96.7
8,871
9,275
9,462
46,010
46,893
47,492
9,982
10,206
11,182
3,038
3,150
3,188
1,336
1,349
1,356
2,030
2,029
2,020
964
967
967
114.6
4.7
January
February
March
97.0
97.2
97.1
9,592
9,619
10,075
47,769
48,196
49,401
11 ,341
10,632
11,235
3,076
3,253
3,389
K359
1,366
1,377
2,029
2,032
2,033
964
965
966
119*.6
4.7
April
May
June
97.6
97.2
96.9
10,277
10,451
10,588
51,061
52,902
53,011
11,356
11,061
11,480
3,286
3,440
3,435
1,373
1,375
1,373
2,028
2,031
r2,034
969
975
988
124*.!
4^9
97.8
p98.4
10,908
(NA)
r53,922
p54,452
rll,303
pll,127
r3,453
p3,410
pi, 371
(NA)
2,044
(NA)
990
(NA)
1979
1980
July
August
September
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 pages 54 and 55.
1
See "New Features and Changes for This Issue," page iii.
http://fraser.stlouisfed.org/
SEPTEMBER 1980
Federal Reserve Bank of St. Louis
91
OTHER IMPORTANT ECONOMIC MEASURES
E
U.S. INTERNATIONAL TRANSACTIONS
EH
602. Exports, excluding
military aid shipments,
total
Year
and
month
(Mil.dol.)
604. Exports of agricultural products
(Mil.dol.)
MERCHANDISETRADE
606. Exports of nonelectrical machinery
(Mil.dol.)
612. General imports,
total
(Mil.dol.)
614. Imports of
petroleum and
petroleum products
616. Imports of
automobiles and parts
(Mil.dol.)
(Mil.dol.)
1978
9,863
9,938
11,143
1,818
2,058
2,363
2,084
2,187
2,450
13,103
14,221
14,005
3,000
3,626
3,094
1,529
1,661
1,581
April
May
June
11,628
11,776
12,264
2,428
2,861
2,904
2,415
2,472
2,427
14,491
14,012
13,970
3,162
3,038
3,229
1,715
1,659
1,684
July
August
September
11,656
12,286
13,275
2,392
2,774
2,512
2,451
2,528
2,815
14,543
14,130
14,821
3,194
3,257
3,307
1,812
1,666
1,822
October
November
December
12,901
13,448
13,282
2,596
2,533
2,555
2,625
2,718
2,824
14,852
14,818
15,028
3,347
3,489
3,588
1,872
1,875
1,822
January
February
March
13,265
13,616
14,297
2,338
2,424
2,682
2,682
2,832
2,917
16,528
14,605
15,358
3,580
3,634
3,667
1,963
1,706
1,589
April
May
June
13,979
14,083
14,817
2,547
2,450
2,909
2,706
2,859
3,034
15,841
16,438
16,835
3,832
4,000
4,199
1,956
1,851
1,730
July
August
September
15,691
15,713
15,822
3,103
3,141
3,059
3,022
3,241
3,153
16,806
18,277
18,407
4,692
4,949
5,662
1,815
2,113
1,849
October
November
December
16,680
16,928
16,742
3,254
3,415
3,434
3,251
3,172
3,240
19,037
18,548
19,665
6,050
5,351
6,502
1,805
1,984
1,871
17,348
17,233
18,534
3,439
3,520
3,331
3,297
3,454
3,423
20,945
21,640
20,607
5,614
7,741
6,991
1,899
2,035
1,960
April
May
June
18,468
17,678
18,642
3,285
3,083
3,024
3,571
3,620
3,943
19,308
20,528
19,893
5,185
7,191
6,611
1,710
1,999
1,843
July
August
September
18,075
3,300
3,682
3,985
4,230
18,995
5,153
2,103
(NA)
(NA)
January
February
March
.
...
1979
1980
January
February
March
.
. .
(NA)
(NA)
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
1980
OTHER IMPORTANT ECONOMIC MEASURES
E
U.S. INTERNATIONAL TRANSACTIONS—Con.
IH GOODS AND SERVICES M OVEMENTS(EXCL UDING TRANSFER S UNDER MILITA 3Y GRANTS)
|\Merchandise, adjustec 1
Goods and services
Year
and
month
667. Balance
668. Exports
(Mil. dol.)
(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.)
1978
January
February
March
... .
-4,969
49,319
54,288
-11.141
30,922
42,063
9,607
4,539
April
May
June
-2,795
54,156
56,951
-8,295
35,404
43,699
9,957
5,474
July
August
September
-1 ,933
56,432
58,365
-7,508
36,828
44,336
10,557
-5,717
October
November
December
493
61,131
60,638
-6,815
38,900
45,715
12,851
6,343
2,732
65,667
62,935
-5,114
41,805
46,919
14,263
7,225
-no
67,763
67,873-
-8,070
42,815
50,885
15,250
7,980
Cflfi
7/1 770
70 oc7
7 nfin
A 7 i no
C/l
OCQ
1 P, HRD
p 701
-250
78 305
78 555
-9 225
50 237
59 452
18 407
9 524
r-823
r85,647
r86,470
-10 875
54 708
65 583
r20 846
rlO 752
p-1 258
p81 522
p82 780
rn 7 ft/1^
y,nc/i 710
v~nfi9 ^^^
nl £
nin AT 7
1979
January
February
March
April
May
June
July
August
September
0
October
November
December
1980
January
February
March
April
May
June
.
779
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 @. 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.
1
Balance of payments basis: Excludes transfers under military grants and Department of Defense sales contracts (exports) and
Department of Defense purchases (imports).
SEPTEMBER 1980
93
OTHER IMPORTANT ECONOMIC MEASURES
F I
INTERNATIONAL COMPARISONS
Qj INDUSTRIAL PRODUCTION
Year
and
month
47. United States, 721.0ECD 1
index of indusEuropean countrial 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
(1967=100)
723. Canada,
index of industrial production
(1967=100)
Revised2
1978
January
February
March
140.0
140.3
142.1
153
152
150
196.9
197.0
199.5
157
152
152
152
152
155
123
124
123
143.8
146.1
145.9
150.0
151.8
152.2
April
May
June
144.4
144.8
146.1
153
152
153
200.5
201.5
201.8
153
152
154
161
157
152
128
126
128
143.5
143.8
145.3
154.3
151.8
154.8
July
.. .
August
September
147.1
148.0
148.6
153
152
154
201.8
204.1
206.0
157
156
159
155
155
157
128
128
128
144.4
143.7
146.2
154.1
154.0
158.8
October
November
December
149.7
150.6
151.8
157
157
158
206.9
207.6
210.1
159
159
159
157
159
161
125
126
129
154.3
154.7
151.9
158.3
158.8
161.8
January
February
March
152.0
152.5
153.5
154
156
157
210.2
213.1
213.1
159
157
161
158
159
161
122
132
133
152.8
160.0
156.0
160.8
161.0
162.0
April
May
June
151.1
152.7
153.0
158
158
158
214.4
218.2
218.5
161
164
164
159
163
r!63
132
134
136
156.7
151.9
145.1
160.3
162.1
160.6
July
August
September
153.0
152.1
152.7
163
158
161
221.2
221.8
220.5
168
164
164
168
168
165
134
130
128
150.4
150.1
159.4
163.1
163.3
165.4
October
November
December
152.7
152.3
152.5
r!63
225.0
228.1
228.4
166
167
167
161
163
165
129
132
130
166.8
167.3
164.7
164.7
163.7
160.8
January
February
March
152.7
152.6
152.1
164
164
230.9
243.3
235.0
168
170
170
165
166
130
r!28
r!66
126
166.8
174.0
173.2
H60.9
161.2
164.2
April
May
June
148.3
144.0
141.4
238.8
236.4
p234.0
168
166
124
124
124
175.5
H61.5
p!65.7
r!60.6
r!57.3
r!56.5
1979
163
163
1980
July
August
September
139.8
p!40.5
r!64
163
160
p!61
(NA)
(NA)
r!64
pi 63
r!59
p!61
(NA)
(NA)
p!25
(NA)
(NA)
p!56.6
(NA)
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 page 58.
Organization for Economic Cooperation and Development.
2
See "New Features and Changes for This Issue," page iii.
94
SEPTEMBER 1980
ItO
OTHER IMPORTANT ECONOMIC MEASURES
INTERNATIONAL COMPARISONS—Con.
JQ CONSUMER PRICES
United States
Year
and
month
Japan
320. Index® 320c. Change
over 6-month
spans1
738. Index®
France
United Kingdom
736. Index® 736c. Change
over 6-month
spans 1
732. Index® 732c. Change
over 6-month
spans 1
West Germany
738c. Change
over 6-month
spans1
735. Index®
735c. Change
over 6-month
spans 1
(1967=100)
(Ann. rate,
percent)
(1967=100)
(Ann. rate,
percent)
(1967=100)
(Ann. rate,
percent)
(1967=100)
(Ann. rate,
percent)
(1967=100)
(Ann. rate,
percent)
January
February
March
187.2
188.4
189,8
8.1
8.5
9.2
246.1
247.1
249,4
3.0
3.9
4.1
158.3
159.1
159.5
2.4
2.4
2.5
222.8
224.4
226.4
8.4
9.3
9.9
304.4
306.2
308.1
6.7
6.5
6.8
April
May
June
191.5
193.3
195.3
9.3
9.3
9.5
252.1
253.5
252.1
5.4
5.9
3.6
160.0
160.3
160.8
2.8
2.2
1.9
228.9
231.1
232.8
11 .7
11.2
10.1
312.6
314.4
316.8
8.4
9.0
8.5
July
August
September
196.7
197.8
199.3
9.7
9.4
8.9
253.1
253.3
256.4
3.6
3.1
2.9
160.5
160.3
160.2
2.1
2.4
2.5
235.7
237.1
238.6
10.2
9.8
9.6
318.2
320.3
321.6
8.8
9.4
9.8
October
November
December
200.9
202.0
202.9
9.5
10.6
10.9
256.8
254.1
253.7
1.2
0.9
160.3
160.8
161.4
3.0
3.5
4.3
240.8
242.1
243.2
8.7
9.1
10.4
323.1
325.3
328.0
10.3
10.2
11.2
January
February
March
204.7
207.1
209.1
11.1
12.0
12.9
253.9
253.1
255.1
1.8
3.1
4.6
162.9
163.6
164.4
4.4
4.3
4.7
245.5
247.1
249.4
9.8
10.4
10.9
332.9
335.6
338.3
11.4
11.4
13.2
April
May
June
211.5
214.1
216.6
13.2
12.9
13.3
258.6
261.3
261.5
7.3
7.0
5.3
165.3
165.7
166.6
6.0
5.8
5.8
251.8
254.5
256.6
11 .9
12.6
11 .7
344.1
346.8
352.8
21.5
21.4
22.1
July
August
September
218.9
221.1
223.4
13.4
13.3
13.8
263.8
261 .1
264.4
6.7
6.9
6.9
167.7
167.8
168.3
6.0
6.4
6.1
260.0
262.7
264.9
12.7
12.4
12.8
368.0
370.9
374.6
23.2
23.7
21.5
October
November
December
225.4
227.5
229.9
14.5
15.3
15.9
267.7
266.7
268.3
6.0
8,9
168.7
169.3
170.1
4.0
5.4
5.6
268.1
269.8
272.0
14.2
14.7
15.6
378.5
381.8
384.6
15.4
16.8
17.4
233.2
236.4
239.8
15.7
15.4
14.8
270.8
273.3
275.5
9.9
9.5
9.9
171.0
172.8
173.8
5.6
5.6
5.7
277.2
280.2
283.4
15.0
15.0
14.1
394.1
399.7
405.1
20.4
20.5
20.5
April
May
June
242.5
244.9
247.6
11.7
10.2
280.2
282.7
283.5
9.5
174.9
175.6
176.5
6.9
5.5
286.7
289.3
291.1
12.9
(NA)
419.0
422.8
426.8
18.5
15.8
July
August
September
247.8
249.4
1978
-0.7
1979
10.8
1980
January
February
March
.
. .
(NA)
284.2
(NA)
176.8
177.0
295.5
(NA)
430.4
431.3
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 59.
Changes over 6-month spans are centered on the 4th month.
SEPTEMBER 1980
95
OTHER IMPORTANT ECONOMIC MEASURES
INTERNATIONAL COMPARISONS—Con.
E9 STOCK PRICES
Qj 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®
spans1
spans1
Italy
Year
and
month
Canada
748. Japan,
index of
stock
prices®
745. West
Germany,
index of
stock
prices®
746. France, 742. United
Kingdom,
index of
stock
index of
stock
prices®
prices®
747. Italy,
ndex of
stock
prices®
743. Canada,
ndex of
stock
prices®
(1967=100)
(Ann. rate,
percent)
(1967=100)
(Ann. rate,
percent)
(1967=100)
(1967=100)
(1967=100)
(1967=100)
(1967=100)
(1967=100)
(1967=100)
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
99.1
98.7
105.3
April
May
June
280.0
282.7
285.1
12.1
12.6
12.0
197.9
200.7
202.4
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
106.9
109.4
109.1
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
116.7
120.8
129.5
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
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
122.3
129.1
131.7
305.1
309.7
313.8
14.5
15.6
15.6
211.2
213.2
215.7
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
138.4
141.1
150.7
317.8
321.3
323.9
14.9
15.5
17.8
217.2
219.3
220.3
9.5
8.5
8.5
111.0
108.5
110.7
402.9
411.1
402.3
130.6
127.8
121.7
164.5
162.0
171.7
255.7
255.0
241.0
54.1
56.8
58.0
149.5
154.8
168.9
326.7
330.6
339.2
19.2
19.4
21.7
222.1
222.9
224.9
7.9
8.8
9.5
111.7
116.8
118.1
400.6
408.0
412.5
122.0
124.3
125.7
173.7
188.6
207.4
232.8
233.9
236.3
58.8
61.7
63.0
159.4
178.6
191.7
345.5
350.3
356.6
25.8
26.1
23.1
226.5
228.7
230.1
10.0
10.4
113.6
112.8
117.2
408.2
403.4
410.8
123.5
118.3
118.8
187.5
189.1
186.8
238.9
215.6
217.1
62.6
58.6
55.4
175.2
189.3
199.5
January
February
March
367.9
374.3
378.2
23.0
22.3
20.2
231.3
233.3
235.8
10.3
120.6
125.5
113.9
420.1
425.5
413.0
117.2
123.3
118.1
203.8
207.4
185.4
224.3
239.4
231.6
59.8
61.1
61.1
224.7
256.3
203.2
April
May
June
384.3
387.8
391.3
18.0
17.2
237.2
240.0
242.7
10.0
11.0
112.0
117.1
124.6
417.6
422.9
423.8
116.5
118.8
120.6
189.0
201.1
p203.6
228.1
230.3
240.7
61.0
61.5
64.8
212.8
216.4
227.5
July
August
September
398.0
402.0
130.4
134.3
p!38.2
424.9
429.1
p438.0
121.2
121.7
pl!9.7
p202.2
rp206.8
p211.9
rp257.5
rp258.1
p257.0
66.0
D76.0
p82.8
240.0
rp260.0
p268.8
1978
11.0
10.9
1979
January
February
March
....
April
May
June
July
August
September
October
November
December
. ..
10.9
10.1
9.9
1980
9.9
10.6
244.5
246.8
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 59.
1
Changes over 6-month spans are centered on the 4th month.
96
SEPTEMBER
1980
ItO
APPENDIXES
B. Current Adjustment Factors
19*30
5. Average weekly initial claims, State
unempl oyrnent insurance
13. New business incorporations
1
Feb.
150.1
114.8
90.4
85.7
93.2
105.6
104.8
105.8
15. Profits (after taxes) per dollar of sales,
manufacturing 2
33
Net change in mortgage debt 1
3
517.
525.
543.
570.
Defense Department gross obligations
incurred 1 .
.
.
.
.
Defense Department military prime
contract awards
-1989
May
80.3
103.5
-317
189
1033
July
100.3
75.8
87.6
100.8
131.1
104.2
104.8
96.8
96.6
103.8
90.5
94.5
1847
83
640
100.4
100.1
99.3
99.4
89.3
99.6
87.4
91.9
91.5
79.6
69.9
111.5
82.9
87.8
78.2
77.0
74.3
100.9
101.4
99.7
97.6
95.1
93.0
100.4
100.3
99.8
100 9
101 2
Employment in defense products industries .
100.2
100.1
99.8
99.9
99.9
96 6
102.9
102 0
100.0
101 .9
283
-72
-364
474
100.0
100.5
122.1
140.9
113.3
172.0
150.4
105.6
102.1
101.5
104.1
104.0
99.7
100.0
100.0
94.6
100.0
100.5
91.4
97.5
102.7
103.5
92.5
88.1
88.7
105.2
107.7
95.3
94.9
91.5
93.7
100.4
97.1
104.4
98 8
105 2
97.5
109 6
99.5
90.0
96.9
108 2
95 5
77 8
88 1
101 0
94 7
100 5
Defense Department net outlays
604.
Exports of agricultural products
95.3
95.3
110.7
105.6
103.9
99.8
91.5
606
Exports of nonelectrical machinery
93.7
95.5
114.4
104.4
106.9
103.2
614
Imports of petroleum and products 1
107 7
93.0
97 8
112 5
90 6
105 8
98 7
107 0
118 8
101 3
Imports of automobiles and parts
98.3
97.9
91.2
106.3
Dec.
86.3
108.7
90.3
Nov.
109.9
100.0
100.2
Oct.
87.1
580
616
Sept.
99.1
104.5
1
Aug.
100.1
Defense Department gross unpaid
obligations outstanding 1
1
June
109.2
94.5
-1913
72. Commercial and industrial loans
outstanding
Mar.
Apr.
Jan.
102.4
NOTE: These series are seasonally adjusted by the Bureau of Economic Analysis or the National Bureau of Economic Research, Inc.,
rather than by the source agency. Seasonal adjustments are kept current by the Bureau of Economic Analysis. Seasonally adjusted
data prepared by the source agency will be used in BUSINESS CONDITIONS DIGEST whenever they are available. For a description of the
method used to compute these factors, see Bureau of the Census Technical Paper No. 15, THE X-II VARIANT OF THE CENSUS METHOD II SEASONAL ADJUSTMENT PROGRAM.
factors are the products of seasonal and trading-day factors.
Quarterly
series; factors are placed in the middle month of the quarter.
3
These quantities, in millions of dollars, are subtracted from the month-to-month net change in the unadjusted monthly totals to
yield the seasonally adjusted net change. These factors are computed by the additive version of the X-ll variant of the Census Method II seasonal adjustment program.
97
C. Historical Data for Selected Series
Quarterly
Monthly
Annual
Year
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
IQ
31. CHANGE IN BOOK VALUE OF MANUFACTURING AND TRADE INVENTORIES, TOTAL
(ANNUAL RATE, BILLIONS OF DOLLARS)
1948...
1949...
1950. ..
1951.. .
1952. ..
1953. ..
1954. . .
1955. . .
1956. ..
1957. . .
1958...
1959. . .
1960. ..
1961. . .
1962. . .
1963.. .
1964.. .
1965. . .
1966. ..
1967. ..
1968. ..
1969. ..
1970. . .
1971. . .
1972. . .
1973. ..
1974.. .
1975. .
1976. .
1977. .
1978. .
.
.
.
.
1979.. .
1980.. .
9 .6
1.9
29.2
5.7
19.6
-4.7
4.5
9.1
6.6
-16.5
0.5
9.5
-3.5
7.0
2.2
6.5
11.5
10.2
17.7
11.1
10.9
2.0
9.9
7.8
33.4
44.5
10.5
21.5
25.1
42.9
56.8
8.6
0.3
7.1
4.5
2.0
9.0
-3.1
-7.8
-6.5
-5.5
5.3
3.6
8.3
18.4
-0.2
16.6
-2.2
14.5
-4.5
5.1
11.4
-4.4
-3.2
-2.9
21.9
5.4
5.2
2.2
5.4
8.7
3.9
7.3
9.4
2.2
5.7
9.5
2.8
-3.5
-3.8
-4.6
-3.8
-4.6
-4.2
-5.4
3.2
7.6
5.1
1.9
13.1
6.0
8.0
8.0
6.4
0.9
6.6
5.7
3.0
8.9
5.4
7.0
-1.7
10.8
-2.4
-0.3
17.8
-1.1
12.7
2.4
2.9
3.7
-5.7
5.3
9.2
12.5
-2.6
-6.4
7.0
3.7
7.8
2.7
4.5
6.4
17.7
7.3
10.3
16.8
12.4
11.8
8.1
29.7
38.5
-11.9
24.8
29.6
36.3
47.2
5.1
15.4
14.2
9.7
7.0
15.2
8.2
15.9
11.6
28.1
53.5
-11.3
26.4
39.2
61.1
39.8
0.8
3.7
-9.5
14.2
0.2
0.1
1.8
1.2
-0.1
-6.8
6.1
6.8
0.9
9.0
5.4
6.9
7.4
4.7
8.2
12.2
18.9
6.3
4.8
13.9
12.8
15.5
12.3
15.5
26.4
32.2
-2.4
27.0
38.9
61.2
68.1
16.5
17.6
-0.2
13.6
20.3
34.2
55.8
-16.9
27.3
21.0
32.0
43.7
2.5
-1.1
5.9
5.6
-3.0
8.4
4.5
2.4
4.6
5.3
-1.0
-1.8
1.9
-2.1
5.4
5.8
5.8
5.6
2.7
4.7
10.3
20.5
12.5
16.0
12.0
17.2
13.3
15.1
13.7
12.8
12.9
25.6
24.5
45.0
13.4
17.6
31.1
42.9
44.9
3.3
9.7
6.2
6.3
11.1
13.2
14.2
15.0
5.6
7.5
8.9
7.2
31.2
59.1
-7.5
44.4
17.2
32.1
57.3
26.2
58.6
0.8
19.0
9.9
37.0
82.3
5.2
1.0
17.8
0.1
10.8
2.6
-0.9
5.0
8.0
5.6
4.3
-4.8
1.9
4.9
8.7
6.7
13.9
4.8
13.8
6.9
9.3
15.9
7 .9
11.2
20.8
22.3
63.4
13.4
42.9
40.7
38.8
15.2
II Q
III Q
IV Q
AVERAGE FOR PERIOD
5.0
3.0
-4.0
20.0
-5.5
24.0
-0.9
-7.2
17.4
2.8
9.3
2.5
5.8
3.2
3.7
-5.0
-3.8
11.3
-7.1
-3.4
-0.3
5.0
-8.6
10.7
-2.1
3.8
3.5
-1.1
-1.0
1.9
6.2
9.1
-0.2
5.7
18.6
-0.8
15.4
14.1
3.1
6.3
14.6
22.7
61.4
12.4
15.6
7.7
42.0
53.4
4.2
7.0
3.5
0.6
7.3
0.5
4.9
7.3
4.4
0.8
6.5
11.9
-13.6
1.2
1.3
0.5
5.2
7.2
2.4
2*. 3
2.3
-6.6
-2.1
12.2
-5.6
20.5
21.8
13.5
-1.5
2.8
6.3
6.4
6.1
3.6
2.3
5.0
-4.0
-4.3
-3.5
5.1
9.0
3.6
4.9
9.2
1.5
-6.4
-6.0
10.4
6.8
6.4
5.2
0.
1.8
1.4
4.2
6.4
5.9
1.5
9.1
3.2
10.4
-4.2
7.3
2.9
5.4
3.2
0.
5.6
4.1
4.6
4.8
-4.7
3.5
2.7
4.8
6.4
7.8
1.8
-1.9
5.0
2.6
0.9
5.5
4.4
7.1
9.8
5.9
8.2
6.0
9.4
15.7
16.6
15.9
7.6
8.4
9.7
7.7
9.5
13.5
14.3
2.3
7.5
9.5
-0.1
19.6
40.5
50.7
-5.7
24.1
32.2
54.3
37.8
14.4
16.7
52.7
54.3
-0.9
20.8
24.5
37.8
10.2
12.5
30.4
45.5
-4.2
24.2
31.3
46.8
47.9
10.5
14.4
30.6
49.0
-8.9
32.9
25.7
41.8
56.4
40. NUMBER OF EMPLOYEES IN NONAGRICULTURAL GOODS-PRODUCING INDUSTRIES — MINING, MANUFACTURING
(THOUSANDS)
AND CONSTRUCTION, ESTABLISHMENT SURVEY2
-3.3
2.1
3.7
-2.9
5.7
8.6
8.9
9.7
14.2
13.0
9.2
0.
8.5
6.7
17.2
9.0
9.1
17.0
14.7
11.1
14.0
11.6
-5.2
-3.0
10.3
10.4
4.8
8.8
9.0
8.5
13.4
13.8
10.2
14.6
11.9
11.0
17.9
24.3
55.7
10.2
12.0
10.8
13.7
5.0
6.9
17.0
38.6
55.5
9.2
1.9
26.5
27.2
39.6
47.5
20.2
21.5
44.7
33.8
8.5
10.2
14.6
31.0
51.4
-0.5
26.0
26.4
43.2
•46.4
AVERAGE FOR PERIOD
18,915
18,394
17,389
19,817
20,014
21,073
20,219
19,832
20,997
21,196
20,183
20,061
20,789
19,675
20,122
20,463
18,710
18,195
17,119
19,988
20,146
21,235
20,163
19,984
21,087
21,278
19,730
20,121
20,903
19,559
20,304
20,425
18,782
17,978
17,563
20,041
20,066
21,295
20,030
20,191
21,024
21,269
19,504
20,315
20,636
19,621
20,328
20,447
18,507
17,778
17,808
20,094
20,099
21,304
19,877
20,367
21,137
21,192
19,266
20,520
20,721
19,628
20,526
20,615
18,651
17,537
18,198
20,088
20,034
21,296
19,727
20,526
21,135
21,124
19,165
20,644
20,653
19,745
20,516
20,681
18,777
17,401
18,424
20,080
19,642
21,278
19,646
20,641
21,207
21,092
19,178
20,765
20,544
19,880
20,473
20,650
18,876
17,332
18,680
20,045
19,511
21,266
19,476
20,626
20,596
21,026
19,219
20,793
20,451
19,878
20,526
20,697
18,822
17,385
19,074
19,919
20,149
21,142
19,418
20,661
21,124
20,942
19,320
20,273
20,375
19,967
20,546
20,717
18,915
17,510
19,219
19,809
20,421
21,068
19,479
20,675
21,137
20,843
19,494
20,242
20,255
19,963
20,548
20,745
18,822
16,777
19,435
19,834
20 ,582
20,889
19,547
20,789
21,261
20,741
19,426
20,127
20,151
20,004
20,552
20,769
18,795
17,119
19,510
19,853
20,793
20,638
19,705
20,876
21,214
20,539
19,817
20,339
20,012
20,144
20,505
20,707
18,677
17,358
19,533
19,957
20,934
20,471
19,748
20,942
21,292
20,418
19,838
20,720
19,752
20,200
20,428
20,723
18,802
18,189
17,357
19,949
20,075
21,201
20,137
20,002
21,036
21,248
19,806
20,166
20,776
19,618
20,251
20,445
18,645
17,572
18,143
20,087
19,925
21,293
19,750
20,511
21,160
21,136
19,203
20,643
20,639
19,751
20,505
20,649
18,871
17,409
18,991
19,924
20,027
21,159
19,458
20,654
20,952
20,937
19,344
20,436
20,360
19,936
20,540
20,720
18,765
17,085
19,493
19,881
20,770
20,666
19,667
20,869
21,256
20,566
19,694
20,395
19,972
20,116
20,495
20,733
18,774
17,565
18,506
19,959
20,198
21,074
19,751
20,513
21,104
20,964
19,513
20,411
20,434
19,857
20,451
20,640
20,608
21,459
22,615
23,488
23,336
1969.. . 24,119
1970...
24,190
1971. . . 22,941
1972. ..
23,226
1973...
24,391
1974...
25,200
1975. . . 23,296
1976. . . 23,116
20,830
21,560
22,793
23,389
23,542
24,229
24,198
22,841
23,269
24,618
25,219
22,111
23,174
23,807
24,909
26,377
20,832
21,606
22,950
23,314
23,542
24,306
24,204
22,828
23,406
24,702
25,139
22,478
23,250
24,012
25,085
26,537
20,875
21,642
23,002
23,282
23,663
24,310
24,027
22,917
23,484
24,745
25,094
22,328
23,364
24,179
25,460
26,473
20,915
21,763
23,082
23,211
23,694
24,358
23,744
22,977
23,588
24,804
25,054
22,352
23,315
24,290
25,481
26,522
20,958
21,849
23,250
23,200
23,717
24,445
23,649
22,918
23,661
24,919
25,003
22,291
23,303
24,399
25,599
26,557
21,020
21,941
23,291
23,236
23,758
24,497
23,598
22,885
23,574
24,931
24,911
22,251
23,347
24,464
25,657
26,582
21,088
22,032
23,363
23,238
23,796
24 ,486
23,467
22,844
23,694
24,981
24,834
22,445
23,360
24,489
25,719
26,528
21,225
22,134
23,299
23,226
23,831
24,477
23,375
22,982
23,795
24,977
24,726
22,616
23,525
24,610
25,801
26,554
20,983
22,206
23,373
23,205
23,872
24,442
22,830
22,933
24,004
25,109
24,587
22,727
23,398
24,659
25,965
26,554
21,307
22,373
23,419
23,440
23,972
24,300
22,702
23,038
24,121
25,214
24,216
22,762
23,562
24,766
26,141
26,504
21,402
22,536
23,467
23,474
24,092
24,353
23,014
23,067
24,188
25,268
23,659
22,887
23,586
24,780
26,267
26,590
20,757
21,542
22,786
23,397
23,473
24,218
24,197
22 ,870
23,300
24,570
25,186
22,850
23,180
23,834
24,955
26,426
20,916
21,751
23,111
23,231
23,691
24,371
23,807
22,937
23,578
24,823
25,050
22,324
23,327
24,289
25,513
26,517
21,111
22,036
23,318
23,233
23,795
24,487
23,480
22,904
23,688
24,963
24,824
22,437
23,411
24,521
25,726
26,555
21,231
22,372
23,420
23,373
23,979
24,365
22,849
23,013
24,104
25,197
24,154
22,792
23,515
24,735
26,124
26,549
21,005
21,926
23,158
23,308
23,737
24,362
23,577
22,935
23 ,668
24,893
24,794
22,600
23,352
24,346
25,585
26,504
1948. ..
1949. . .
1950. . .
1951. ..
1952. . .
1953. . .
1954. . .
1955...
1956. . .
1957. . .
1958. . .
1959...
1960. . .
1961.. .
1962. . .
1963...
1964...
1965. . .
1966. ..
1967. . .
1968. . .
1977. . . 23 ,683
1978 . . . 24,871
1979. . . 26,363
1980...
41. NUMBER OF EMPLOYEES ON NONAGRICULTURAL PAYROLLS, ESTABLISHMENT SURVEY2
(THOUSANDS)
1948. . . 44,680
1949.. .
44,631
1950. . . 43,472
1951.. .
1952.. .
47,227
48,229
50,043
1954.. . 49,340
1955. ..
49,363
1956...
51,880
1957.. . 52,808
1958.. . 52,002
1959. ..
52,410
I960.. . 54,184
1961. . . 53,524
1962. . . 54,703
1963.. . 55,927
1953. ..
1964...
57,281
59,419
62,415
1967. ..
65,240
1968. . . 66,656
1969. . . 69,297
1970...
71,059
1971...
70,752
1972. ..
72,357
1973...
75,521
1974...
78,020
1975...
77,153
1976.. . 78,381
1977...
80,594
1978.. . 84,582
1979...
88,858
1980...
1965. ..
1966.. .
AVERAGE FOR PERIOD
44,492
44,399
43,175
47,519
48,491
50,271
49,270
49,523
52,096
53,000
51,448
52,558
54,406
53,373
54,996
56,039
44,615
44,169
43,816
47,700
48,450
50,360
49,081
49,867
52,141
53,052
51,131
52,863
54,348
53,462
55,109
56,157
44,334
44,057
44,238
47,849
48,476
50,367
48,984
50,106
52,302
53,029
50,787
53,190
54,561
53,485
55,384
56,398
44,615
43,806
44 ,589
47,803
48,478
50,343
48,857
50,414
52,387
52,999
50,760
53,382
54,366
53,664
55,514
56,534
44,863
43,582
44,953
47,915
48,130
50,386
48,810
50,705
52,454
52,961
50,822
53,603
54,292
53,922
55,563
56,571
45,059
43,415
45,361
47,923
47,992
50,385
48,689
50,823
51,764
52,970
50,915
53,683
54,230
54,052
55,663
56,705
45,052
43,490
46,035
47,806
48,687
50,272
48,644
50,905
52,396
52,918
51,118
53,230
54,198
54,232
55,796
56,832
45,167
43,708
46,304
47,743
49,076
50,216
48,752
51,085
52,446
52,825
51,359
53,265
54,069
54,303
55,860
56,971
45,084
42,823
46,530
47,833
49,436
50,114
48 ,828
51,308
52,667
52,673
51,379
53,203
53,982
54,375
55,919
57,148
45,083
43,148
46,654
48,026
49,710
49,824
49,102
51,491
52,722
52,458
51,831
53,503
53,843
54,636
55,943
57,125
45,032
43,497
46,756
48,119
49,933
49,627
49,242
51,721
52,865
52,281
51,968
54,033
53,571
54,739
55,915
57,251
4,596
4,400
3,488
7,482
8,390
50,225
49,230
49,584
52,039
52,953
51,527
52,610
54,313
53,453
54,936
56,041
44,604
43,815
44,593
47,856
48,361
50,365
48,884
50,408
52,381
52,996
50,790
53,392
54,406
53,690
55,487
56,501
45,093
43,538
45,900
47,824
48,585
50,291
48 ,695
50,938
52,202
52,904
51,131
53,393
54,166
54,196
55,773
56,836
45,066
43,156
46,647
47,993
49,693
49,855
49,057
51,507
52,751
52,471
51,726
53,580
53,799
54,583
55,926
57,175
44,866
43,754
45,197
47,819
48 ,793
50,202
48,990
50,641
52,369
52,853
51,324
53,268
54,189
53,999
55,549
56,653
57,621
59,710
62,766
65,224
67,026
69,575
71,201
70,689
72,542
75,923
78,181
76,743
78,637
80,838
84,892
89,109
57,686
59,921
63,129
65,305
67,156
69,803
71,363
70,766
72,850
76,168
78,184
76,429
78,877
81,242
85,396
89,455
57,846
60,080
63,318
65,373
67,422
69,980
71,283
70,969
73,079
76,308
78,239
76,333
79,139
81,615
86,104
89,386
57,974
60,389
63,595
65,478
67,519
70,197
70,998
71,129
73,346
76,473
78,381
76,470
79,186
81,966
86,368
89,708
58,128
60,590
63,989
65,642
67,779
70,478
70,888
71,136
73,639
76,743
78,443
76,400
79,244
82,339
86,746
89,909
58,309
60,868
64,166
65,816
67,979
70,629
70,927
71,169
73,576
76,713
78,492
76,640
79,436
82,640
86,924
90,054
58,510
61,072
64,306
65,933
68,189
70,742
70,750
71,168
73,908
77,009
78,511
77,034
79,584
82,919
87,231
90,222
58,777
61,333
64,367
66,074
68,333
70,800
70,815
71,499
74,107
77,170
78,542
77,216
79,373
83,426
87,419
90,283
58,658
61,538
64,614
66,091
68,569
70,957
70,383
71,485
74,537
77,506
78,599
77,479
79,825
83,662
87,790
90,441
59,080
61,859
64,839
66,570
68,837
70,921
70,264
71,723
74,904
77 ,867
78,234
77,582
80,129
84,032
88,242
90,552
59,320
62,209
65,042
66,767
69,151
71,119
70,661
71,977
75,164
77,933
77,531
77,878
80,324
84,287
88,567
90,678
57,529
59,683
62,770
65,256
66,946
69,558
71,208
70,736
72,583
75,871
78,128
76,775
78,632
80,891
84,957
89,141
57,983
60,353
63,634
65,498
67,573
70,218
71,056
71,078
73,355
76,508
78,354
76,401
79,190
81,973
86,406
89,668
58,532
61,091
64,280
65,941
68,167
70,724
70,831
71,279
73,864
76,964
78,515
76,963
79,631
82,995
87,191
90,186
59,019
61,869
64,832
66,476
68,852
70,999
70,436
71,728
74,868
77,769
78,121
77,646
80,093
83,994
88,200
90,557
58,283
60,765
63,901
65,803
67,897
70,384
70,880
71,214
73,675
76,790
78,265
76,945
79,382
82 ,471
86,697
89,886
This series contains revisions beginning with 1967. This series contains revisions beginning with 1975.
(SEPTEMBER 1980)
C. Historical Data for Selected Series—Continued
Quarterly
Monthly
Year
Feb.
Jan.
Apr.
Mar.
47.
1948. ..
1949.. .
1950. . .
1951.. .
1952...
1953...
1954...
1955.. .
1956. . .
1957.. .
1958...
1959.. .
1960. . .
1961. . .
1962. . .
1963.. .
1964...
1965. . .
1966...
1967.. .
1968. . .
1969. . .
1970. . .
1971...
1972. . .
1973. ..
1974.. .
1975.. .
1976...
1977. ..
1978.. .
1979. . .
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
IQ
INDEX OF INDUSTRIAL P R O D U C T I O N , TOTAL
(1 9 6 7 = 1 0 0 )
II Q
III Q
Annual
IV Q
AVERAGE FOR PERIOD
40.8
40.3
39.9
48.8
49.3
54.6
51.4
54.9
61.1
62.5
57.4
62.5
68.8
63.0
70.2
73.8
40.9
39.9
40.0
49.1
49.6
54.9
51.6
55.6
60.5
63.1
56.2
63.7
68 .2
62.9
71.3
74.6
40.4
39.1
41.3
49.4
49.7
55.3
51.3
56.9
60.5
63.1
55.5
64.7
67.6
63.3
71.7
75.1
40.5
38.9
42.7
49.4
49.3
55.6
51.0
57.5
61.0
62.2
54.6
66.0
67 .0
64.6
71.9
75.8
41.2
38.3
43.7
49.3
48 .8
55.9
51.3
58.5
60.5
62.0
55.1
67.0
67.0
65.6
71.8
76.7
41.7
38.3
45.0
49.0
48.4
55.6
51.4
58.5
59.9
62.1
56.5
67.1
66.1
66.5
71.6
76.9
41.7
38.2
46.4
48.3
47.6
56.3
51.5
59.0
58.1
62.5
57.4
65.5
65.9
67.3
72.3
76.6
41.6
38.6
47.9
47.8
50.7
56.0
51.4
58.9
60.5
62.5
58.5
63.3
65.8
67.9
72.4
76.8
41.2
38.9
47.6
48.1
52.5
54.9
51.5
59.3
61.8
62.0
59.1
63.2
65.1
67.8
72.8
77.5
41.6
37.5
47.9
48.1
53.0
54.4
52.1
60.3
62.4
61.1
59.8
62.7
65.0
69.1
72.9
78.1
41.0
38.5
47.8
48.4
54.1
53.1
53.0
60.5
61.8
59.6
61.5
63.1
64.1
70.2
73.2
78.4
40.6
39.2
48.7
48.7
54.4
51.8
53.6
60.7
62.7
58.5
61.6
67.0
62.9
70.8
73.2
78.3
39.8
40.4
49.1
49.5
54.9
51.4
55.8
60.7
62.9
56.4
63.6
68.2
63.1
71.1
74.5
79.0
86.2
94.4
99.8
103.7
109.5
109.1
108.1
114.6
126.3
129.9
115.2
126.1
133.7
140.0
152.0
79.5
86.7
95.0
99.0
104.3
110.2
108.8
108.0
115.3
127.8
129.6
112.7
128.1
134.5
140.3
152.5
79.5
87.8
96.3
98.5
104.7
110.8
108.8
108.0
116.5
128.5
130.0
111.7
128.7
136.3
142.1
153.5
80.8
88.2
96.5
99.2
104.9
110.6
108.6
108.5
117.7
128.5
129.9
112.6
129.0
137.1
144.4
151.1
81.3
88.9
97.4
98.7
106.2
110.3
108.3
109.1
118.1
129.6
131.3
113.7
130.1
138.0
144.8
152.7
81.5
89.6
97.9
98.4
106.6
111.2
108.1
109.6
118.7
129.9
131.9
116.4
130.7
138.9
146.1
153.0
82 .0
90.4
98.4
98.7
106.5
111.8
108.4
109.8
119.3
130.4
131.8
118.4
131.2
139.0
147.1
153.0
82.6
90.8
98.5
100.0
107.1
112.3
108.3
108.9
120.7
130.4
131.7
121.0
132.0
139.3
148.0
152.1
82 .9
91.1
99.4
100.3
107.1
112.3
107.6
110.3
121.8
131.1
131.8
122.1
131.3
139.6
148.6
152.7
81.7
92.0
100.1
101.2
107.4
112.5
105.4
110.9
123.4
131.4
129.5
122.2
131.3
140.1
149.7
152.7
84.2
92.4
99.4
102.6
108.6
111.4
104.8
111.3
124.4
131.6
124.9
123.5
132.6
140.3
150.6
152.3
85.2
93.5
99.6
103.5
108.8
111.2
107.2
112.3
125.8
131.3
119.3
124.4
133.6
140.5
151.8
152.5
79.3
86.9
95.2
99.1
104.2
110.2
108.9
108.0
115.5
127.5
129.8
113.2
127.6
134.8
140.8
152.7
81.2
88.9
97.3
98.8
105.9
110.7
108.3
109.1
118.2
129.3
131.0
114.2
129.9
138.0
145.1
152.3
-1.5
-13.8
24.5
5.9
8.6
6.8
-3.6
27.2
-1.0
2.8
-18.9
21.7
5.8
2.6
5.9
10.8
13.8
-7.7
41.1
-3.2
-10.0
2.4
1.0
12.1
-3.4
-5.9
9.6
16.2
-8.4
21.9
-0.5
10.1
-4.6
6.6
27.9
-6.6
49.0
-3.7
0.8
5.8
20.3
-0.4
19.8
-20.2
-5.8
8.3
7.0
3.4
-4.9
8.5
10.1
5.1
15.6
-20.4
17.4
10.1
6.8
-20.6
19.1
34.7
-12.5
19.1
2.3
4.3
0.7
-1.6
25.9
0.3
15.8
-3.7
3.9
13.8
5.7
-6.0
7.4
13.1
-5.2
13.0
3.6
7.1
7.0
6.9
6.3
8.1
2.0
4.1
-1.7
3.1
10.9
3.8
-0.3
21.3
2.0
2.0
7.0
-0.7
14.2
11.0
1.0
13.4
6.6
-3.7
0.9
7.5
13.9
0.6
-32.2
7.9
7.3
2.6
8.9
-0.5
9.6
9.8
6.7
4.3
5.2
2.4
-2.8
5.0
12.2
4.5
-7.5
6.3
7.6
5.3
8.2
0.8
40.7
41.1
38.5
43.8
49.2
48.8
55.7
51.2
58.2
60.5
62.1
55.4
66.7
66.7
65.6
71.8
76.5
41.5
38.6
47.3
48.1
50.3
55.7
51.5
59.1
60.1
62.3
58.3
64.0
65.6
67.7
72.5
77.0
41.1
38.4
48.1
48.4
53.8
53.1
52.9
60.5
62.3
59.7
61.0
64.3
64.0
70.0
73.1
78.3
82.5
90.8
98.8
99.7
106.9
112.1
108.1
109.7
120.6
130.6
131.8
120.5
131.5
139.3
147.9
152.6
83.7
92.6
99.7
102.4
108.3
111.7
105.8
111.5
124.5
131.4
124.6
123.4
132.5
140.3
150.7
152.5
41.1
38.8
44.9
48.7
50.6
54.8
51.9
58.5
61.1
61.9
57.9
64.8
66.2
66.7
72.2
76.5
81.7
89.8
97.8
100.0
106.3
111.1
107.8
109.6
119.7
129.8
129.3
117.8
130.5
138.2
146.1
152.5
1980.. .
47-C. CHANGE IN INDEX OF INDUSTRIAL PRODUCTION, TOTAL, OVER 1-MONTH
(COMPOUND ANNUAL RATE, P E R C E N T )
1948. ..
1949.. .
1950. . .
1951...
1952...
1953. . .
1954...
1955. . .
1956. . .
1957...
1958.. .
1959. ..
1960...
1961...
1962. ..
1963.. .
1964.. .
1965...
1966...
1967.. .
1968...
1969.. .
1970. ..
1971...
1972...
1973. . .
1974.. .
1975. ..
1976.. .
1977. . .
1978...
1979...
1980.. .
1949...
1950...
1951. . .
1952. . .
1953...
1954.. .
1955. ..
1956. . .
1957...
1958...
1959. . .
1960...
1961.. .
1962. . .
1963...
1964.. .
1965. ..
1966...
1967...
1968...
1969.. .
1970...
1971. . .
1972.. .
1973.. .
1974...
1975. ..
1976. . .
1977.. .
1978. . .
1979...
1980...
AVERAGE FOR PERIOD
6.1
-8.5
23.7
2.5
15.8
4.5
-8.9
33.3
8.2
-3.8
-20.4
19.0
37.5
1.9
-9.7
10.3
3.0
-11.3
3.0
7.6
7.6
6.8
4.8
16.4
-11.2
12.1
-22.4
25.6
-10.0
-1.9
20.5
13.8
-13.7
-21.6
46.8
7.6
2.4
9.1
-6.8
32.0
0.
0.
-14.0
20.6
-10.1
7.9
6.9
8.3
3.0
-6.0
49.2
0.
-9.2
6.7
-6.8
13.4
10.4
-15.8
-17.8
27.0
-10.1
27.6
3.4
11.8
22.8
-17.0
32.0
-2.4
-11.5
6.7
7.3
23.0
-9.4
-3.8
11.6
19.8
0.
20.2
-1.7
15.2
15.6
0.
42.2
-7.1
-9.4
-6.3
2.4
0.
-11.3
2.0
35.1
1.8
-15.0
17.8
-3.3
3.2
0.
-3.1
44 .4
-15.9
-18.1
16.2
2.4
10.8
-30.7
8.0
20.9
-25.1
-3.6
15.4
12.4
-4.6
-2.8
13.3
46.5
-11.7
113.2
-6.2
-2.3
-2.0
62.5
0.
25.6
-33.6
-1.8
11.2
1.7
3.2
-10.9
9.7
-7.3
7.8
52.0
-21.2
2.4
8.5
29.1
-9.2
13.0
-1.9
-12.0
-1.8
6.8
11.5
12.3
-35.6
7.8
0.
12.0
-10.4
14.9
22.2
12.3
-16.1
15.2
-9.1
-1.8
25.6
1.7
9.7
-16.0
37.1
-2.5
7.7
28.0
-25.2
22.8
4.1
-10.9
-25.8
40.0
7.9
-15.4
20.9
5.1
4.7
-11.1
24.1
25.1
7.7
6.9
-25.7
14.5
4.0
18.9
-20.0
2.0
105.4
-20.3
10.8
0.
-1.5
11.3
15.0
12.2
2.4
2.3
8.0
-20.5
10.6
27.5
4.9
-12.1
-34.3
17.7
0.9
-4.2
1.6
1.6
7.9
7.2
7.9
-9.2
7.2
7.9
-3.3
-1.1
7.6
15.2
-2.7
-23.1
20.8
7.4
2.6
4.0
-0.8
0.
16.3
17.7
-5.9
4.7
6.7
0.
0.
13.2
6.8
3.8
-10.1
5.8
17.3
16.5
8.2
-3.9
21.5
5.6
2.5
8.9
2.3
-2.1
-2.2
5.7
13.1
0.
-0.9
10.1
2.8
7.3
21.2
-17.2
-26.2
7.7
9.9
11.8
-5.9
15.9
-3.2
-3.3
6.8
4.2
10.8
13.7
12.4
10.7
8.2
3.4
13.5
-29.7
3.0
9.9
6.3
-3.6
4.6
10.2
-2.2
5.6
6.3
2.8
5.6
32.5
5.7
8.1
11.3
2.4
-19.6
7.6
11.3
6.3
3.7
-1.1
6.7
3.4
2.2
6.2
4.7
-0.9
22.7
4.7
0.9
8.5
0.
-12.8
9.1
5.4
1.2
17.0
7.0
5.5
-1.1
-9.4
15.0
0.
-0-.9
29.8
7.6
2.6
7.6
-6.8
6.2
4.4
4.0
11.5
3.7
0.
0.
-7.5
16.6
11.5
6.6
0.9
11.5
-6.2
2.6
5.0
4.8
-16.1
12.5
8.8
11.3
3.4
2.2
-22.0
6.7
17.0
2.8
-19.0
1.0
0.
4.4
9.3
0.
43.6
5.3
-8.1
17.9
14.3
-11.1
-6.6
4.4
10.2
1.8
-35.2
13.5
12.5
1.7
7.5
-3.1
15.2
15.3
2.4
11.0
2.2
-2.1
31.2
11.3
14.4
-2.7
-42.3
9.1
9.4
1.7
10.0
1.6
6.4
12.8
12.6
-4.2
4.7
7.5
-7.9
3.2
16.1
9.0
-3.7
-22.5
14.8
8.5
5.0
4.6
-1.0
10.7
8.5
6.9
-0.2
7.6
1.6
-2.6
6.0
7.9
4.5
6.1
18.3
6.4
7.9
12.0
-0.4
-25.2
-5.7
3.1
9.6
5.1
15.3
-20.7
17.3
9.8
6.0
-20.7
18.0
26.3
-12.8
18.9
2.2
4.2
-11.9
28.2
7.7
10.4
12.6
-20.3
23.3
5.4
0.6
-22.1
19.3
45.0
-11.8
6.5
5.0
4.7
0.
-12.5
23.6
7.4
6.3
6.8
-5.9
22.8
-0.7
3.1
-19.3
20.4
10.0
2.0
7.2
10.0
9.6
-10.0
40.9
-3.4
-9.8
4.9
0.8
15.1
-7.2
-3.7
7.3
11.7
-7.3
19.3
1.5
8.6
-0.6
0.8
27.7
-6.8
36.2
-5.7
2.1
5.8
15.5
-2.0
21.5
-19.2
-6.1
11.3
4.6
3.9
-7.7
10.1
5.5
6.9
19.2
-20.1
17.9
8.8
5.2
-20.0
19.8
23.3
-11.5
13.2
3.9
5.8
0.3
-2.9
24.4
1.0
13.0
-3.5
3.7
13.1
3.2
-5.6
7.3
9.1
-3.7
11.5
4.3
7.1
11.6
11.0
0.8
13.4
6.5
-3.9
-1.5
7.5
13.8
0.6
-32.9
7.7
7.2
2.6
8.9
-0.5
23.9
10.9
-1.2
10.3
8.1
-11.6
10.6
14.0
9.7
-4.5
-37.4
13.4
7.5
-0.3
6.3
0.
7.1
11.6
11.1
-2.8
5.4
5.9
-6.4
5.8
14.1
9.2
-3.3
-21.8
13.3
8.3
5.9
2.5
-3.7
8.6
9.8
8.5
-1.2
7.1
2.1
-1.7
5.0
7.8
5.4
5.8
14.6
6.6
8.1
11.0
1.4
-22.3
4.0
7.7
6.0
7.9
2.9
4.7
-4.1
2.0
11.5
3.1
-2.0
21.0
2.7
3.0
7.8
-1.1
14.5
9.7
1.1
11.5
6.8
-6.2
-1.1
10.2
12.1
-0.1
-29.8
9.9
5.5
1.7
7.5
0.
8.6
9.7
6.7
3.9
5.5
1.6
-3.3
5.8
11.4
4.4
-7.3
5.9
7.0
5.3
8.0
0.7
47-C.
1948. . .
SPANS
CHANGE IN INDEX OF INDUSTRIAL PRODUCTION, TOTAL, OVER 3-MONTH
(COMPOUND ANNUAL RATE, P E R C E N T )
SPANS
AVERAGE FOR PERIOD
5.0
-10.3
16.5
11.3
10.3
6.0
-10.8
21.1
0.
8.7
-20.9
15.1
36.5
-7.3
6.4
7.9
-2.0
-14.0
23.2
5.9
8.5
6.8
-3.8
27.0
-1.3
2.6
-19.0
21.7
3.6
2.6
5.2
10.8
-2.9
-13.2
31.2
5.0
0.
7.5
-3.1
20.3
-0.7
-1.9
-18.1
24.4
-10.1
10.6
10.0
11.3
3.0
-15.1
42.5
1.6
-6.3
7.5
-2.3
22.6
0.
-6.8
-7.6
22.4
-6.9
18.3
2.8
11.7
13.5
-7.9
40.9
-3.2
-10.1
2.2
0.8
11.7
-3.9
-6.2
7.4
15.7
-8.6
21.8
-0.6
9.9
12.4
-7.0
39.4
-8.6
-13.1
5.1
4.0
10.9
-17.7
1.9
22.1
-3.0
-6.4
17.8
2.2
4.3
3.9
3.2
44.3
-11.6
16.5
0.7
0.8
2.8
0.
3.3
27.1
-20.3
-7.0
14.8
3.4
0.5
-4.7
6.4
25.2
-7.1
38.4
-4.9
0.8
5.6
13.3
-0.6
19.7
-21.3
-5.9
8.1
6.9
3.2
13.6
-1.6
53.7
-12.8
4.7
9.1
33.1
-8.7
17.8
-16.0
-5.4
11.1
3.4
8.1
-5.6
-1.0
-0.8
5.1
29.6
-19.2
13.0
11.3
8.9
-17.3
22.1
-1.3
-9.9
14.3
4.5
8.6
5.7
12.4
11.7
-1.6
6.8
6.0
-9.0
12.8
15.2
11.4
-5.9
-33.7
15.8
5.9
0.
5.1
0.8
6.3
12.8
12.5
-4.3
4.7
7.6
-8.4
3.0
15.8
8.9
-3.9
-23.1
14.6
8.3
4.6
4.6
-1.0
9.4
9.6
9.2
-2.4
4.7
4.1
-1.8
1.5
11.3
7.2
0.
-8.7
9.5
10.6
13.2
-2.3
-11.0
9.4
10.5
10.5
-1.2
7.5
0.4
-1.8
4.1
10.1
5.8
5.4
3.6
6.4
10.8
13.5
0.5
-20.7
10.4
8.5
6.8
-0.4
7.5
1.5
-2.5
6.1
7.8
4.4
6.0
17.9
6.4
7.9
11.7
-1.3
-25.3
6.1
10.4
8.1
-2.0
6.2
4.4
-0.7
4.9
5.5
6.0
6.0
22.3
7.0
5.7
7.7
5.1
-21.0
6.6
8.8
4.6
5.4
3.4
7.5
0.
-0.7
9.1
2.5
1.2
28.3
6.0
3.8
9.1
-1.6
-9.4
7.0
6.9
6.3
7.9
1.9
4.0
-1.8
2.6
10.9
3.7
-0.3
21.1
1.8
2.0
7.0
-0.8
-1.5
7.3
7.1
10.5
3.4
2.5
-10.6
4.1
14.5
3.1
-6.8
13.5
0.3
3.2
7.3
-0.8
8.0
7.2
3.7
10.8
5.7
-3.2
-12.3
9.1
12.8
3.7
-19.1
8.5
1.8
2.9
7.2
0.5
-1.0
-7.1
NOTE: These series contain no revisions but are reprinted for the convenience of the user.
(SEPTEMBER 1980)
99
C. Historical Data for Selected Series—Continued
Quarterly
Monthly
Annual
Year
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
IQ
II Q
48. EMPLOYEE-HOURS IN NONAGRICULTURAL ESTABLISHMENTS
(ANNUAL RATE, BILLIONS OF EMPLOYEE-HOURS)
III Q
IV Q
AVERAGE FOR PERIOD
1948...
1949...
1950. . .
1951...
1952. . .
1953...
1954...
1955. . .
1956.. .
1957...
1958. ..
1959.. .
1960. . .
1961. ..
1962. ..
1963. ..
93.57
92.44
89.16
98.69
100.52
103.81
100.48
101.24
106.88
107.71
104.90
106.43
110.00
107.72
109.91
113.23
92.96
92.04
88.72
98.99
101.00
104.34
100.86
101.87
107.09
108.51
103.14
106.64
110.14
107.81
111.36
113.40
93.48
91.28
90.40
99.38
100.48
104.67
100.59
103.11
106.67
108.22
102.80
107.65
109.78
107.82
112.02
113.50
92.60
90.94
90.99
99.95
100.02
104.59
100.13
103.21
107.38
107.63
101.83
108.57
110.32
107.65
112.58
114.34
93.11
90.41
92.32
99.75
100.46
104.06
99.67
104.41
107.12
107.65
102.04
108.94
110.03
108.27
112.80
114.66
93.84
89.69
93.32
99.74
99.70
104.19
99.69
104.58
107.39
107.56
102.14
109.42
109.89
108.91
112.90
114.91
94.06
89.32
94.33
99.71
99.19
104.05
99.45
104.80
106.10
107.61
102.45
109.08
109.89
109.29
112.94
115.11
94.00
89.37
96.34
99.42
100.72
103.35
99.26
104.98
107.39
107.64
103.01
108.18
109.81
109.70
113.22
115.18
93.93
89.54
96.33
99.19
102.35
102.57
99.36
105.62
107.53
107.19
104.03
107.84
109.24
109.24
113.57
115.56
93.55
87.91
96.89
99.16
102.80
103.29
99.79
105.89
108.08
106.06
104.07
107.71
108.99
110.06
113.09
115.93
93.65
88.48
97.44
99.60
103.12
102.29
100.93
106.46
108.23
105.72
105.03
108.20
109.52
110.87
113.38
115.87
93.53
88.89
97.19
99.93
103.94
101.66
101.20
106.80
108.56
105.54
105.42
109.95
106.79
110.68
113.21
115.84
93.34
91.92
89.43
99.02
100.67
104.27
100.64
102.07
106.88
108.15
103.61
106.91
109.97
107.78
111.10
113.38
93.18
90.35
92.21
99.81
100.06
104.28
99.83
104.07
107.30
107.61
102.00
108.98
110.08
108.28
112.76
114.64
94.00
89.41
95.67
99.44
100.75
103.32
99.36
105.13
107.01
107.48
103.16
108.37
109.65
109.41
113.24
115.28
93.58
88.43
97.17
99.56
103.29
102.41
100.64
106.38
108.29
105.77
104.84
108.62
108.43
110.54
113.23
115.88
93.52
90.03
93.62
99.46
101.19
103.57
100.12
104.41
107.37
107.25
103.40
108.22
109.53
109.00
112.58
114.79
1964...
1965. ..
1966. ..
1967. . .
1968. . .
1969. . .
1970. . .
1971...
1972. . .
1973. . .
1974...
1975.. .
1976. . .
1977...
1978...
1979. ..
1980...
114.80
120.96
126.60
131.41
132.44
137.62
139.91
137.97
141.12
146.60
151.04
147.69
150.77
152.46
159.30
168.43
116.59
121.64
127.74
130.70
133.68
137.82
139.97
137.34
141.86
147.88
151.51
146.26
150.55
155.03
160.83
168.86
116.75
122.06
128.42
130.61
133.61
138.52
140.26
137.84
142.11
148.62
151.26
145.34
150.40
155.03
162.59
170.32
117.43
122.11
128.38
130.55
133.76
138.72
139.83
137.95
143.11
148.91
149.18
145.45
149.66
155.65
164.21
167.60
117.47
122.87
128.58
130.92
134.48
139.38
139.07
138.33
142.92
149.20
151.72
145.78
151.26
156.46
164.02
169.45
117.72
122.76
129.53
131.23
134.97
139.58
138.75
138.56
143.65
149.56
151.62
145.36
151.14
157.00
165.04
170.19
118.06
123.13
129.49
131.43
135.52
139.83
139.04
138.09
143.37
149.87
151.44
145.62
151.66
157.50
165.27
170.37
118.31
123.62
129.86
131.77
135.86
140.33
138.54
138.63
143.87
149.99
151.32
147.16
151.40
157.68
165.40
170.26
118.31
123.88
129.80
132.34
136.14
140.46
134.34
138.41
144.64
150.31
151.47
147.64
151.86
158.39
165.66
170.49
118.72
124.60
130.44
132.07
136.46
140.56
137.31
138.02
144.92
149.81
151.91
147.92
151.86
159.16
166.30
170.50
119.67
125.36
130.76
133.02
136.42
140.20
136.78
139.80
146.02
151.56
149.76
148.49
152.31
159.45
167.90
170.73
120.60
126.16
130.98
133.11
136.90
140.73
137.77
140.26
145.99
151.38
148.04
149.31
152.88
159.49
168.20
171.47
116.05
121.55
127.59
130.91
133.24
137.99
140.05
137.72
141.70
147.70
151.27
146.43
150.57
154.17
160.91
169.20
117.54
122.58
128.83
130.90
134.40
139.23
139.22
138.28
143.23
149.22
150.84
145.53
150.69
156.37
164.42
169.08
118.23
123.54
129.72
131.85
135.84
140.21
137.31
138.38
143.96
150.06
151.41
146.81
151.64
157.86
165.44
170.37
119.66
125.37
130.73
132.73
136.59
140.50
137.29
139.36
145.64
150.92
149.90
148.57
152.35
159.37
167.47
170.90
117.87
123.26
129.22
131.60
135.02
139.48
138.46
138.43
143.63
149.47
150.86
146.84
151.31
156.94
164.56
169.89
48-C. CHANGE IN EMPLOYEE-HOURS IN NONAGRICULTURAL ESTABLISHMENTS OVER 1-MONTH SPANS
(COMPOUND ANNUAL RATE, PERCENT)
AVERAGE FOR PERIOD
1948...
1949...
1950. ..
1951.. .
1952. ..
1953. . .
1954.. .
1955. ..
1956. ..
1957. . .
1958.. .
1959.. .
1960...
1961.. .
1962...
1963. ..
2.6
-13.1
3.7
20.2
7.3
-1.5
-13.1
0.5
0.9
-9.0
-7.0
12.1
0.5
11.0
-8.0
0.2
-7.5
-5.1
-5.8
3.7
5.9
6.3
4.6
7.7
2.4
9.3
-18.4
2.4
1.5
1.0
17.0
1.8
6.9
-9.5
25.2
4.8
-6.0
3.9
-3.2
15.6
-4.6
-3.2
-3.9
12.0
-3.9
0.1
7.3
1.1
-10.7
-4.4
8.1
7.1
-5.4
-0.9
-5.4
1.2
8.3
-6.3
-10.8
10.8
6.1
-1.9
6.2
9.3
6.8
-6.8
19.0
-2.4
5.4
-5.9
-5.4
14.9
-2.9
0.2
2.5
4.2
-3.1
7.1
2.4
3.4
9.8
-9.1
13.8
-0.1
-8.7
1.5
0.2
2.0
3.1
-1.0
1.2
5.4
-1.5
7.3
1.1
2.6
2.8
-4.8
13.8
-0.4
-6.0
-1.6
-2.9
2.6
-13.5
0.6
3.7
-3.7
0.
4.3
0.4
2.1
-0.8
0.7
28.8
-3.4
20.2
-7.8
-2.3
2.1
15.6
0.3
6.8
-9.5
-0.9
4.6
3.0
0.7
-0.9
2.3
-0.1
-2.7
21.2
-8.7
1.2
7.6
1.6
-4.9
12.6
-3.7
-6.1
-4.9
3.8
4.0
-4.7
-19.8
7.2
-0.4
5.4
8.8
5.3
3.1
6.3
-11.9
0.5
-1.4
-2.7
9.4
-5.0
3.9
1.3
8.1
7.0
5.5
3.8
-11.0
14.6
6.7
1.7
-3.8
11.6
5.6
6.0
9.2
3.1
-0.6
-1.5
5.7
-3.0
4.0
10.0
-7.1
3.3
3.9
3.7
-2.0
4.5
21.2
-26.1
-2.0
-1.8
-0.3
0.7
-9.2
7.7
9.6
2.4
2.9
-3.9
7.9
-0.4
-1.0
-9.8
8.8
-0.6
4.0
5.4
1.0
2.0
-6.8
13.6
1.5
-2.9
-1.8
-3.5
6.0
2.8
-2.4
-2.4
6.8
0.5
4.2
3.2
5.1
0.4
-0.6
14.2
-2.2
11.8
-6.0
-1.3
4.1
1.2
-1.3
7.7
-5.6
-2.3
1.3
2.4
2.3
-1.6
-2.0
3.7
3.0
6.4
-3.1
7.7
4.6
3.9
-5.9
5.5
8.5
-7.6
5.5
-1.2
1.0
0.3
-4.6
9.8
3.0
4.4
-2.0
-0.3
5.7
1.9
-2.6
0.3
4.6
-2.5
3.8
2.5
2.4
1964. . .
1965...
1966. . .
1967...
1968. ..
1969...
1970...
1971.. .
1972.. .
1973. ..
1974.. .
1975...
1976. ..
1977. . .
1978 .
1979*.!!
1980
-10.3
3.6
4.3
4.0
-5.9
6.5
-6.8
1.8
7.6
5.1
-2.7
-2.8
12.4
-3.2
— 1.4
20.4
7.0
11.4
-6.3
11.8
1.8
0.5
-5.3
6.5
11.0
3.8
-11.0
-1.7
22.2
1.7
4.2
6.6
-0.8
-0.6
6.3
2.5
4.5
2.1
6.2
-2.0
-7.3
-1.2
0.
7.2
0.5
-0.4
-0.5
1.4
1.7
-3.6
1.0
8.8
2.4
-15.3
0.9
-5.7
4.9
0.4
7.7
1.9
3.5
6.7
5.9
-6.3
3.4
-1.6
2.4
22.5
2.8
13.6
6.4
2.6
-1.1
9.2
2.9
4.5
1.7
-2.7
2.0
6.3
2.9
-0.8
-3.4
-0.9
4.2
3.5
3.7
-0.4
1.8
5.0
2.2
2.5
-4.0
-2.3
2.5
-1.4
2.2
4.2
3.9
2.6
4.9
3.5
3.1
3.1
4.4
-4.2
4.8
4.3
1.0
-0.9
13.5
-2.0
1.5
0.
2.6
-0.6
5.3
2.5
1.1
-30.9
-1.9
6.6
2.6
1.2
4.0
3.7
5.5
4.2
7.2
6.1
-2.4
2.9
0.9
30.0
-3.3
2.3
-3.9
3.5
2.3
0.
6.0
10.0
7.6
3.0
9.0
-0.4
-3.0
-4.5
16.6
9.5
15.0
-15.7
4.7
3.6
2.2
9.7
7.9
2.0
0.8
4.3
4.6
9.0
4.0
-0.2
-1.4
-12.9
6.8
4.6
0.3
3.4
2.4
3.6
2.0
4.2
3.1
-4.2
2.1
4.5
2.6
2.1
0.1
2.3
5.2
2.0
3.7
0.8
3.4
3.5
2.6
-10.9
-0.4
2.9
2.0
-0.4
6.6
2.0
3.6
8.0
7.6
3.7
2.5
2.3
0.8
11.5
5.8
3.9
3.2
-8.4
4.6
2.7
2.8
4.3
4.6
3.9
1.7
2.9
2.8
-1.2
2.0
4.2
3.8
-1.7
1.1
2.6
4.5
s!s
3.1
-1.0
10. 9
-3.6
-17.6
-7.3
14.1
-8.3
5.4
-5.9
1.3
-5.8
-0.8
5.0
1.6
0.1
1.6
5.3
3.9
4.9
7.4
-1.0
1.8
4.9
-1.3
0.3
5.4
7.4
-0.3
-7.0
3.2
6.3
8.3
5.*2
0.3
0.*6
-7.2
0.*7
2!a
2\2
48-C. CHANGE IN EMPLOYEE-HOURS IN NONAGRICULTURAL ESTABLISHMENTS OVER 3-MONTH SPANS
(COMPOUND ANNUAL RATE, PERCENT)
AVERAGE FOR PERIOD
1948. ..
1949...
1950. . .
1951.. .
1952...
1953.. .
1954...
1955. ..
1956. . .
1957...
1958. ..
1959. ..
1960. . .
1961...
1962...
1963. ..
0.8
-6.7
1.1
6.5
5.7
4.8
-5.5
3.8
2.4
1.0
-9.4
6.3
7.4
-6.1
1.8
0.1
0.5
-9.3
7.0
9.3
2 .2
2.8
-4.1
7.8
-0.5
-1.2
-10.0
8.7
-0.6
3.9
4.9
1.0
-4.1
-6.3
8.5
5.2
-2.0
3.0
-1.4
8.0
1.9
-0.3
-11.2
8.3
1.2
-0.3
10.1
4.0
0.6
-6.9
17.2
3.1
-2.1
-1.1
-4.6
10.4
0.1
-3.1
-4.2
8.9
-0.4
1.7
5.3
4.5
1-.5
-6.8
13.6
1.5
-3.1
-1.8
-3.5
5.8
2.7
-2.4
-2.5
6.7
0.4
4.1
3.2
5.1
6.5
-6.9
15.5
-1.0
-3.3
-2.0
-2 .7
6.3
-4.7
-0.1
2.5
1.9
-1.6
6.2
1.3
2.7
3.9
-4.5
18.6
-1.3
1.0
-2.7
-1.6
2.2
1.0
0.
3.9
-2.8
-0.8
5.4
1.5
1.8
0.4
-0.7
13.5
-2.2
11.1
-6.1
-1.3
4.0
0.5
-1.4
7.6
-5.7
-2.3
1.2
2.4
2.3
-2.2
-6.2
11.3
-2.2
15.4
-2.9
1.4
4.2
7.7
-5.6
6.5
-4.9
-3.2
2.8
0.5
2.9
-1.5
-3.9
4.6
0.7
9.9
-4.0
6.9
5.8
3.2
-6.9
8.1
0.1
-1.1
4.3
0.6
2.4
-1.7
-2.9
3.6
3.0
6.4
-3.5
7.6
4.5
3.9
-6.0
5.5
8.1
-8.7
5.4
-1.3
1.0
-4.7
5.8
7.6
5.6
4.0
-10.4
5.9
3.8
-1.4
-4.3
9.4
8.8
-4.6
-0.5
0.5
-3.8
-0.9
-7.4
5.5
7.0
2.0
3.5
-3.7
6.5
1.3
-0.2
-10.2
7.8
2.7
-0.8
5.6
1.7
2.9
-6.9
15.4
1.2
-2.8
-1.6
-3.6
7.5
-0.6
-1.9
-1.4
5.8
-0.5
4.0
3.3
4.1
0.7
-3.8
14.5
-1.9
9.2
-3.9
-0.5
3.5
3.1
-2.3
6.0
-4.5
-2.1
3.1
1.5
2.3
-2.6
-0.3
5.3
3.1
6.8
-6.0
6.8
4.7
1.9
-5.7
7.7
5.7
-4.8
3.1
-0.1
-0.1
0.
-4.6
10.2
2.4
3.8
-2.0
-0.2
5.6
1.4
-2.5
0.5
3.7
-1.2
2.3
2.6
2.0
1964...
1965...
1966...
1967...
1968...
1969...
1970...
1971...
1972...
1973.. .
1974...
1975...
1976...
1977...
1978...
1979...
1980...
2.5
6.7
7.8
-0.2
2.0
4.2
-0.7
1.6
6.0
5.2
-0.1
-9.0
5.7
7.3
3.5
2.3
3.2
3.2
4.9
7.4
-1.1
1.5
4.8
-1.3
0.2
5.4
7.4
-0.3
-7.1
3.0
5.7
8.0
5.1
0.2
9.5
3.9
5.7
-2.6
4.0
3.2
-0.2
-0.1
5.8
6.5
-4.8
-5.9
-2.9
8.6
12.9
-2.0
-4.0
3.1
4.1
2.7
0.7
2.4
4.6
-2.5
2.9
3.0
3.6
0.6
-1.3
1.9
3.7
8.2
1.4
-6.4
3.4
2.3
3.5
1.9
4.1
3.1
-4.2
2.1
4.4
2.6
1.0
0.1
2.0
5.2
6.2
-0.3
-7.1
2.2
3.4
3.5
2.7
5.4
3.2
-2.2
0.4
0.7
2.6
6.2
0.5
5.5
4.8
2.6
6.8
-6.6
2.9
2.5
4.0
2.6
4.2
2.8
-1.5
0.9
2.7
2.1
-1.1
3.8
0.4
3.2
3.4
1.9
-2.3
2.0
3.7
0.8
3.4
3.5
2.5
-12.1
-0.4
2.8
2.0
-0.4
6.4
1.9
3.6
1.5
0.7
2.3
4.9
3.0
2.0
2.8
2.1
-4.9
-0.2
4.4
-0.2
1.2
6.5
0.5
4.3
2.5
0.3
4.7
5.8
2.8
3.8
1.7
-0.4
-5.0
3.4
6.1
4.3
-4.1
3.7
2.4
4.6
6.2
1.1
8.0
7.6
3.7
2.3
2.3
0.8
10.6
5.5
3.8
2.9
-8.8
4.6
2.7
2.8
6.3
2.3
7.8
6.6
3.0
1.1
3.4
-1.8
1.9
9.3
4.7
3.3
-10.7
7.9
1.6
0.4
5.2
4.1
5.1
5.2
7.0
-1.3
2.5
4.1
-0.7
0.6
5.7
6.4
-1.7
-7.3
1.9
7.2
8.1
1.8
-0.2
2.9
3.3
3.2
1.8
4.0
3.6
-3.0
1.8
2.7
2.9
2.6
-0.2
3.1
4.6
5.7
2.6
-6.7
2.4
3.7
2.6
2.7
3.5
2.5
-6.2
0.1
3.3
1.3
-0.1
5.6
0.9
3.7
2.5
1.0
6.8
6.7
3.2
2.4
2.5
-0.5
2.5
6.1
4.9
3.5
-7.9
5.4
2.2
2.6
5.9
2.5
4.3
4.7
4.0
1.4
3.1
2.4
-1.8
2.1
4.2
3.5
-1.8
0.8
2.1
4.5
5.5
2.0
NOTE: These series contain revisions beginning with 1947.
http://fraser.stlouisfed.org/
100
Federal Reserve Bank of St. Louis
(SEPTEMBER (1980)
C. Historical Data for Selected Series—Continued
Monthly
Year
Jan.
Mar.
Feb.
93.
Apr.
May
June
Quarterly
July
Sept.
Aug.
FREE R E S E R V E S (MEMBER BANKS EXCESS R E S E R V E S M I N U S B O R R O W I N G S ) 1
( M I L L I O N S OF DOLLARS )
Oct.
Nov.
Dec.
IQ
II Q
III Q
IV Q
Annual
©
AVERAGE FOR PERIOD
1948.
1949.
1950.
1951.
1952.
1953.
1954.
1955.
1956.
1957.
1958.
1959.
1960.
1961.
1962.
1963.
..
..
..
..
..
..
..
..
..
..
..
..
..
..
..
..
938
669
900
613
723
-640
836
369
-255
116
122
-59
-375
696
555
375
560
600
614
298
330
-672
339
270
-267
-126
324
-48
-365
517
434
301
552
546
655
471
578
-614
503
122
-409
-316
495
-140
-219
486
382
269
700
608
593
672
283
-631
626
95
-533
-504
492
-259
-194
551
441
313
599
601
624
152
65
-353
561
212
-504
-444
547
-319
-33
453
440
247
752
658
700
664
130
365
711
168
-195
-508
484
-513
37
549
391
138
722
910
623
562
-468
366
770
92
-139
-383
547
-556
120
530
440
161
750
861
483
412
-383
-7
725
-189
-339
-471
382
-536
247
537
439
133
756
847
669
383
95
250
708
-286
-214
-466
95
-493
414
547
375
91
706
816
775
821
-400
390
638
-359
-195
-344
96
-459
480
442
419
94
655
677
586
389
-875
198
650
-492
-154
-293
20
-433
614
517
473
33
663
685
885
169
-870
252
457
-245
-36
-133
-41
-424
669
419
268
209
683
605
723
461
544
-642
559
254
-310
-109
314
-82
-320
566
457
315
684
622
639
496
159
-206
633
158
-411
-485
508
-364
-63
518
424
233
743
873
592
452
-252
203
734
-128
-231
-440
341
-528
260
538
418
128
675
726
749
460
-715
280
582
-365
-128
-257
25
-439
588
459
387
112
696
706
676
467
-66
-91
627
-20
-270
-323
297
-353
116
520
421
197
1964.
1965.
1966.
1967.
1968.
1969.
1970.
1971.
1972.
..
..
..
..
..
..
..
..
..
175
106
-44
-16
144
-480
-799
-91
153
-823
-808
-454
130
433
-176
-692
89
36
-107
-4
38
-596
-819
-127
91
99
-75
-246
236
-315
-701
-781
-120
134
167
-105
-268
175
-413
-844
-704
-8
27
82
-180
-352
269
-326
120
-182
-352
297
-341
135
-174
-362
272
-226
-1,064
-795
-18
-15
-701
-322
110
-1,074
-1,217
-658
-55
89
-144
-368
268
-132
-831
-335
-295
-352
106
-146
-431
160
-167
-992
-208
-153
-327
-34
-83
-222
270
-245
-988
-305
-144
-292
168
-2
-165
107
-310
-829
-49
58
-830
121
22
-132
72
-44
-592
-800
-113
126
123
-156
-324
247
-360
-1,102
83
-134
-390
298
-190
-946
-682
-606
-183
-733
-116
41
102
-151
-373
279
-183
-950
-745
-520
-197
80
-77
-273
179
-241
-936
-187
-80
-483
107
-90
-276
194
-207
-871
-616
-207
-128
-1,388
-1,563
-1,176
-1,564
-1,556
-1,668
-2,386
-1,730
-2,869
-1,708
-3,131
-1,897
-3,173
-1,624
-3,096
-1,267
-1,702
-1,195
-1,036
-1,166
-1,031
-1,455
-1,857
277
-3
-149
-974
-293
-53
12
-35
123
-980
110
171
-690
-738
-11
134
-253
-679
-1,175
-989
-1,049
-1,750
75
101
-46
-808
-161
117
-434
-1,146
-197
212
-443
-993
-1,490
6
193
-872
-885
-904
-1,751
-1,079
-994
-70
149
158
-162
-733
-1,743
-3,133
-61
261
72
-975
-1, 0 2 7
229
280
-705
-417
-1,654
-2,270
10
45
-62
-475
-899
-364
135
110
-384
-749
-1,258
160
378
155
-38
-742
-1,527
-1,131
1973...
1974.
1975.
1976.
1977.
1978.
1979.
1980.
..
..
..
..
..
..
..
-997
85
-62
-114
-272
-764
9 4 . MEMBER BANK BORROWINGS FROM THE FEDERAL R E S E R V E
M I L L I O N S OF DOLLARS )
1948. . .
1949. . .
1950.. .
1951. ..
1952. . .
1953.. .
1954...
1955.
1956.
1957.
1958.
1959.
1960.
1961.
1962.
1963.
..
..
..
..
..
..
. .
. .
..
1964. . .
1965. . .
1966. . .
1967...
1968.
1969.
1970.
1971.
. .
..
..
..
1972...
1973.. .
1974.
1975.
1976.
1977.
1978.
1979.
1980.
. .
..
..
. .
. .
..
..
-1,339
1
-1,003
-1,188
-1,008
-1,077
©
AVERAGE FOR P E R I O D
143
169
35
212
210
1,347
100
313
807
406
451
556
905
49
70
99
244
110
123
330
365
1,310
293
354
799
640
242
508
816
137
68
172
270
148
128
242
307
1,202
189
463
993
834
138
601
635
70
91
155
111
98
101
161
367
1,166
139
495
1,060
1,011
130
676
602
56
69
121
144
176
80
438
563
944
155
368
971
909
119
767
502
96
63
209
100
100
68
170
579
423
146
401
769
1,005
142
921
425
63
100
236
95
109
123
194
1,077
418
65
527
738
917
109
956
388
51
89
322
87
94
164
292
1,032
651
115
765
898
1,005
252
1,008
293
67
127
330
128
75
96
338
683
468
67
849
792
988
476
903
225
37
80
321
111
46
67
95
1,048
362
82
884
715
811
425
905
149
65
65
313
118
134
145
340
1,532
486
164
1,016
744
804
486
873
142
105
119
376
134
118
142
657
1,593
441
246
839
688
710
557
906
87
149
304
327
219
142
95
261
294
1,286
194
377
866
627
277
555
785
85
76
142
118
125
83
256
503
844
147
421
933
975
13G
788
510
72
77
189
103
93
128
275
931
51^
82
714
809
970
279
956
302
52
99
324
121
99
118
364
1,391
430
164
913
716
775
489
896
126
106
163
339
140
115
106
289
780
768
147
606
831
837
294
799
431
79
104
248
256
299
402
389
237
697
965
370
20
1,164
1,044
390
79
61
481
994
304
405
478
362
361
824
1,092
328
33
1,593
1,186
147
76
79
405
973
259
416
551
199
671
918
896
319
99
1,858
1,352
106
58
110
344
999
213
471
626
134
683
996
822
148
109
1,721
1,714
110
44
73
539
897
255
505
722
101
746
1,402
976
330
119
1,786
270
528
674
123
692
1,407
883
453
94
1,788
265
524
766
87
525
1,190
1,358
820
202
60
121
200
1,227
1,777
271
120
262
1,111
1,396
261
123
336
1,286
1,179
309
490
733
126
427
1,135
462
360
574
1,465
1,793
191
66
1,319
1,261
430
452
611
133
569
1,241
425
407
606
1,399
1,285
61
84
840
722
1,906
243
454
557
238
765
1,086
321
107
1,049
1,298
703
127
62
558
874
1,473
273
373
477
317
423
813
984
339
51
1,538
1,194
214
71
83
410
989
246
501
674
119
707
1,268
895
310
107
1,765
2,431
147
95
178
959
1,357
310
539
753
89
535
1,169
931
708
385
2,018
3,315
289
101
680
1,167
1,207
327
465
634
166
587
1,154
403
291
743
1,387
1,260
126
71
906
952
1,800
289
470
634
173
563
1. . 0 1
803
412
321
1,677
3,000
2,050
3,308
331
528
766
90
515
1,067
607
501
514
1,861
2,580
334
564
728
89
565
1,249
827
804
438
2,144
3,351
211
104
1,071
1,147
1,097
570.
3,287
396
75
634
1,068
1,344
2,022
EMPLOYMENT IN D E F E N S E PRODUCTS I N D U S T R I E S 2
(THOUSANDS)
2,050
194
84
462
872
1,338
AVERAGE FOR P E R I O D
1948
1949. . .
1950 . . .
1951. . .
1952 . . .
1956 . . .
1957 . . .
1958. . .
1959. . .
1960. . .
1961. . .
1962.. .
1963...
1964. . .
1965. . .
1966...
1967. . .
1968. . .
1969. . .
1970...
1971.
1972.
1973.
1974.
1975.
1976.
1977.
. .
..
. .
..
..
..
. .
1978...
1979. . .
1,218
1,249
1,250
1,235
1,303
1,369
1,211
1,254
1,246
1,240
1,316
1,366
1,210
1,255
1,244
1,244
1,326
1,354
1,212
1,259
1,240
1,248
1,330
1,350
1,210
1,267
1,233
1,255
1,340
1,347
1,222
1,271
1,201
1,257
1,350
1,345
1,224
1,280
1,213
1,259
1,361
1,337
1,229
1,277
1,228
1,255
1,369
1,332
1,233
1,274
1,224
1,262
1,369
1,328
1,239
1,266
1,218
1,274
1,370
1,328
1,246
1,259
1,230
1,283
1,371
1,317
1,249
1,256
1,232
1,292
1,371
1,318
1,213
1,253
1,247
1,240
1,315
1,363
1,215
1,266
1,225
1,253
1,340
1,347
1,229
1,277
1,222
1,259
1,366
1,332
1,245
1,260
1,227
1,283
1,371
1,321
1,225
1,264
1,230
1,259
1,348
1,341
1,307
1,228
1,357
1,588
1,719
1,691
1,546
1,262
1,109
1,154
1,179
1,185
1,096
1,069
1,120
1,242
1,294
1,224
1,382
1,614
1,723
1,672
1,521
1,238
1,115
1,155
1,179
1,153
1,092
1,074
1,125
1,262
1,285
1,230
1,406
1,630
1,719
1,688
1,503
1,213
1,117
1,157
1,182
1,156
1,093
1,069
1,138
1,278
1,278
1,237
1,430
1,645
1,713
1,686
1,472
1,190
1,123
1,160
1,185
1,138
1,087
1,085
1,143
1,283
1,266
1,247
1,457
1,650
1,713
1,682
1,441
1,179
1,125
1,165
1,187
1,152
1,084
1,088
1,162
1,289
1,258
1,254
1,478
1,662
1,718
1,658
1,421
1,167
1,124
1,169
1,189
1,139
1,071
1,098
1,173
1,299
1,246
1,267
1,502
1,668
1,717
1,659
1,400
1,150
1,124
1,171
1,193
1,129
1,059
1,109
1,184
1,310
1,235
1,276
1,525
1,675
1,725
1,643
1,373
1,147
1,127
1,175
1,152
1,123
1,069
1,103
1,193
1,312
1,236
1,289
1,537
1,686
1,708
1,627
1,353
1,141
1,136
1,171
1,188
1,114
1,069
1,103
1,195
1,324
1,232
1,300
1,554
1,699
1,691
1,613
1,321
1,132
1,134
1,172
1,197
1,103
1,065
1,066
1,207
1,336
1,231
1,315
1,573
1,709
1,701
1,580
1,299
1,123
1,144
1,176
1,193
1,089
1,063
1,068
1,219
1,349
1,228
1,331
1,579
1,718
1,703
1,565
1,281
1,114
1,152
1,176
1,180
1,089
1,068
1,093
1,236
1,356
1,295
1,227
1,382
1,611
1,720
1,684
1,523
1,238
1,114
1,155
1,180
1,165
1,094
1,071
1,128
1,261
1,267
1,246
1,455
1,652
1,715
1,675
1,445
1,179
1,124
1,165
1,187
1,143
1,081
1,090
1,159
1,290
1,239
1,277
1,521
1,676
1,717
1,643
1,375
1,146
1,129
1,172
1,178
1,122
1,066
1,105
1,191
1,315
1,230
1,315
1,569
1,709
1,698
1,586
1,300
1,123
1,143
1,175
1,190
1,094
1,065
1,076
1,221
1,347
1,258
1,266
1,482
1,662
1,712
1,647
1,411
1,171
1,128
1,167
1,184
1,131
1,076
1,085
1,175
1,303
1980...
This series contains no revisions but is reprinted for the convenience of the user.
This series contains revisions beginning with 1978.
(SEPTEMBER 1980)
101
C. Historical Data for Selected Series—Continued
Monthly
Year
Jan.
Mar.
Feb.
Apr.
May
June
Quarterly
July
Aug.
Sept.
Oct.
Nov.
Dec.
1 Q
II Q
913. COMPOSITE I N D E X OF M A R G I N A L EMPLOYMENT ADJUSTMENTS
(1967=100)
1948.
1949.
1950.
1951.
1952.
..
..
..
..
..
1953...
1954 . . .
1955...
1956. . .
102.6
94.1
96.8
104.3
101.3
104.1
93.5
98.4
99.8
101.3
94.4
96.6
104.1
101.5
104.0
93.5
99.4
98.4
101.3
92.9
98.1
104 .6
101.1
103.8
93.4
100.1
98.7
101.4
92.0
99.1
103.6
99 .6
103.7
93.0
100.3
99.5
100.6
92.4
100.4
102.5
100.8
102.3
93.8
100.6
97 .5
101.9
93.4
100.9
101.5
100.1
101.9
94.7
99 .4
98.2
1958!
1959.
1960.
1961.
1962.
1963.
! !
..
..
..
..
..
90.7
97.2
98.6
92.6
96.9
96.4
89.8
97.9
97.1
91.9
97.2
96.9
89.4
98.9
95.1
94.2
97.8
97.1
89.7
99.0
95.1
94.9
98.0
96.7
91.3
98.9
95.2
94.9
97.3
97.2
92.8
98.1
94.7
95.6
96.9
97.5
1964.
1965.
1966.
1967.
1968.
1969.
..
..
..
..
..
..
96.9
100.0
102 .1
101.3
100.0
102.3
99.2
96.5
98.9
101.3
99.0
90.0
97.9
95.9
97.6
98.5
97.6
100.0
102.7
99.4
101.2
101.6
98.3
96.5
99.2
102.4
98.7
89.7
98.1
96.6
97.2
98.4
97.6
100.6
103.8
98.6
101.4
102.3
97.4
96.5
99.5
101.9
98.8
90.1
97.6
98.0
98.3
98.0
98.6
99.7
103.5
98.9
100.4
102.4
96.0
96.7
99.8
101.7
97.9
91.7
96.1
97.3
99.0
94.6
98.3
100.3
103.1
99.5
101.6
102.0
96.3
96.7
99 .4
101.3
99.1
91.4
96.5
97.1
98.0
97.3
98 .4
100.4
102.5
99.9
101.5
102.0
96.6
97.0
98.7
101.0
98.2
92.5
96.1
97.2
97 .8
96.7
1970...
1971.
1972.
1973.
1974.
1975.
1976.
..
..
..
..
..
..
1977.. .
1978. . .
1979...
1980. . .
914.
1948.
1949.
1950.
1951.
1952.
1953.
..
..
..
..
..
..
1954...
1955.
1956.
1957.
1958.
1959.
1960.
1961.
1962.
1963.
..
..
..
..
..
..
..
..
..
1964. . .
1965...
1966.
1967.
1968.
1969.
1970.
1971.
1972.
1973.
1974.
..
..
..
..
..
..
..
..
..
1975.. .
1976.
1977.
1978.
1979.
1980.
..
..
..
..
..
..
..
..
..
..
..
..
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...
Annual
AVERAGE FOR PERIOD
101.5
93.7
102.8
99.8
96.3
100 .9
95.3
99.1
97.8
96 . 7
93.7
97.5
94 .4
95.4
97.1
97.6
100.2
93.5
105.5
98.7
102.6
99.4
94 .4
99.5
98.6
95.9
94.4
97.0
93.9
96.5
96.3
96.9
99.8
95.1
103.8
99.2
104 .3
97.4
94.6
100.7
98.7
94.1
94.8
96 .8
94.0
94.7
97.0
97.4
100.0
93.3
103.5
99.3
104 .5
96.4
95.9
100.4
100.0
93.2
95.3
94.6
93.2
97 .1
96.1
97.6
99.0
93.5
102 .2
100.4
104.2
94.4
97.6
101.0
99.1
92.2
95.9
94.9
92.7
97.4
96.6
97.2
96.9
97.1
102 .2
101.1
103.8
94.4
97.7
100.4
99.3
91.1
95.8
98.9
91.4
97.2
96.3
97.3
101.7
93.8
97.2
104.3
101.3
104.0
93.5
99.3
99.0
101.3
92.6
100.1
102.5
100.2
102.6
93.8
100.1
98.4
100.5
94.1
104.0
99.2
101.1
99.2
94.8
99.8
98.4
98.6
94.6
102.6
100.3
104.2
95.1
97.1
100.6
99.5
100.5
93.8
101.0
101.6
101.7
100.2
94.8
99.9
98.8
9o!o
98.0
96.9
92.9
97.3
96.8
9l!3
98.7
95.0
95.1
97.4
97.1
94!3
97.1
94.1
95.5
96.8
97.3
95!7
96.1
92.4
97.2
96.3
97.4
92!s
97.5
94.6
95.2
97.0
97.2
98 .8
100.2
102.0
99.7
101.3
101.5
97.7
96.9
98.8
100.5
98.1
94.5
96.1
96.7
97.4
99.4
99.6
102.8
100.3
101.1
101.2
96.3
95.7
100.2
100.3
97.0
94.5
95.5
96.2
97.3
98 .4
100.5
103.0
100.4
101.6
101.4
95.2
95.9
100.3
101.1
96 .5
94.3
95.0
97.0
98.5
98.6
101.1
102.5
100.2
102.1
100.9
94.7
96.9
100.5
101.1
94.9
95.0
95.1
97.4
98.7
98 .6
101.6
101.9
100.8
102.2
100.3
94.9
97.5
101.1
101.0
92.0
95.6
96.1
98.0
98.8
99.2
102 .1
101.0
101.1
102.0
100.4
95.9
98.6
101.1
99.8
91.1
97.0
96.9
98.7
99.1
97.4
100.2
102.9
99.8
100.9
102.1
98.3
96.5
99.2
101.9
98.8
89.9
97.9
96.8
97.7
98.3
98.4
100.1
103.0
99.4
101.2
102.1
96.3
96.8
99.3
101.3
98 .4
91.9
96.2
97.2
98.3
96.2
98.9
100.1
102.6
100.1
101.3
101.4
96.4
96.2
99.8
100.6
97.2
94.4
95.5
96.6
97.7
98.8
101.6
101.8
100.7
102.1
100.5
95.2
97.7
100.9
100.6
92.7
95.9
96.0
98.0
98.9
98.4
100.5
102.6
100.0
101.4
101.5
96.5
96.8
99.8
101.1
96.8
93.0
96.4
97.2
98.1
COMPOSITE I N D E X OF C A P I T A L I N V E S T M E N T COMMITMENTS
(1967=100)
AVERAGE FOR P E R I O D
100.0
90.3
95.3
96 .6
95.9
97.0
92.3
99.8
97.6
94.8
90.6
97.8
96.8
93.5
96.8
96.9
99.1
89.7
96.1
95.8
95.9
96.4
91.7
99.5
97.4
94.8
91.1
99.5
95.4
93.6
96.2
97.3
100.5
89.2
97.1
94.7
94.9
96.3
92.4
99.0
97 .9
93.9
91.3
98.5
96.2
94.1
96.8
97.3
98.9
89 .4
97.5
96.1
95.0
95.8
92.8
99.0
97.5
94.0
92.6
98.6
96.0
94.1
95.9
98.2
99.1
89.7
97.9
94.2
96.0
94.0
93.6
99.2
96.9
94.4
93.7
98.0
95.2
94.8
95.8
97.8
97.4
89.1
99.5
93.8
96.0
94.6
94.3
99.0
96.4
93.7
94.3
97.8
95.5
95.2
96.2
97.7
95.8
90 .0
99.1
93.7
96.3
93.8
94.4
98.8
95.9
93.9
95.6
97.4
94.9
95.2
96.3
98.1
94.6
92.2
96 .8
94.9
98.5
93.3
95.3
99.0
95.4
93.0
96.4
97.5
94.7
94.6
96.7
98.8
94 .9
92.2
96.0
93.9
96.9
93.9
96.5
98.3
95.7
93.0
96.3
97.0
94.4
95.4
96.4
98 .9
93.3
93.4
96.1
94 .2
96.4
92.7
96.9
98.1
95.7
92.4
97.4
96.8
93.6
96.2
96.8
98.7
93.4
94.0
97.8
94.5
96.8
92.7
96.9
98.0
95.3
91.8
96.6
97.6
93.5
95.8
97 .0
99.3
100.2
90.3
95.2
96.7
95.5
96.8
92.2
99.2
97.6
94.8
91.2
98 .2
96.5
93.4
96.2
97.0
99.5
89.4
97.5
95.0
95.3
95.4
92.9
99.1
97.4
94.1
92.5
98.4
95.8
94.3
96.2
97.8
95.9
90.4
98.5
94.1
96.9
93.9
94.7
98.9
95.9
93.5
95.4
97.6
95.0
95.0
96.4
98.2
93.9
93.2
96.6
94.2
96.7
93.1
96.8
98.1
95.6
92.4
96.8
97.1
93.8
95.8
96.7
99.0
97.4
90.8
97.0
95.0
96.1
94.8
94.1
98.8
96.6
93.7
94.0
97.8
95.3
94.6
96.4
98.0
99.1
100.2
101.9
97.3
101.8
107.9
104.5
104.6
109.8
112.1
107.3
98.8
106.4
110.9
115.4
113.9
99.5
99.9
101.7
96.9
103.9
108.3
104.6
104.5
109.6
112.6
107.7
98.2
106.0
111.2
115.9
113.9
98.9
100.2
102.0
97.7
105.3
107.2
103.7
106.2
110.1
112.2
107.9
98.2
106.7
112.0
115 .0
115.5
99.0
99.6
101.0
98.1
103.1
108.3
103.7
106.1
110.6
111.2
107.6
100.3
106.0
111.7
114 .9
113.6
100.1
99.8
100.3
99.0
102.1
107.2
103.7
107.3
110.8
111.6
107.1
101.3
105.7
112.5
115.0
113.3
99.6
100.3
99.3
100.3
102.8
106.9
103.2
108.3
110.5
111.8
106.1
103.1
107.7
113 .3
116.1
113.9
99.4
100.4
99.1
100.4
104 .5
106.4
103.0
107.9
111.4
110.8
106 .6
104.1
107.8
112.4
115.5
99 .4
100.2
98.0
101.7
105.2
106;6
102 .9
108.2
110.9
110.6
105.1
104.3
107.8
114 .8
115.4
100.0
100.4
97.3
101.6
105.6
106.4
103.3
108.3
112.6
109.5
103.6
104 .1
109.4
114.6
116.0
100.0
100.6
96.8
101.6
107.5
106.2
103.5
108.6
112.5
108.8
101.3
103.9
109.8
115.0
117.2
100.1
101.1
95.9
102.5
106.1
105.2
104.1
109.3
112.0
109.2
100.3
104.2
110.3
115.7
116 . 1
100.0
101.5
96.1
102.7
107.2
105.1
105.6
109.9
112.9
107.4
101.7
104 .8
110.2
116.6
115.7
99.2
100.1
101.9
97.3
103.7
107.8
104.3
105.1
109.8
112.3
107.6
98.4
106.4
111.4
115.4
114.4
99.6
99.9
100.2
99.1
102.7
107.5
103.5
107.2
110.6
111.5
106.9
101.6
106.5
112.5
115. 3
113.6
99.6
100.3
98.1
101.2
105.1
106.5
103.1
108.1
111.6
110.3
105.1
104.2
108.3
113.9
115.6
100.0
101.1
96.3
102.3
106.9
105.5
104.4
109.3
99.6
100.4
99.1
100.0
104.6
106.8
103,8
107.4
111.1
110.6
105.2
102.1
107.8
113.4
115.7
92.9
88.5
93.0
102.4
93.0
97.3
89.7
98.0
97.4
94.6
91.2
99.0
94.8
93.6
98.6
98.2
93.1
86.5
96.6
98.5
94.1
95.9
91.9
99.0
96.2
93.7
92.2
99.3
93.1
96.7
95.9
98.9
93.6
90.2
102.4
94.6
95.1
92.9
92.5
99.9
96.2
94.1
95.6
97.6
94.4
97.5
96.7
97.5
90.2
92.8
100.6
93.4
95.3
88.6
95.5
99.0
96.5
91.1
97.6
97.4
93.9
97.8
97.4
98.2
99.1
101.9
104.2
100.2
101.5
102.9
100.3
101.0
102.0
108.1
110.3
93.1
101.1
103.0
105.7
108.2
100.0
101.5
104.2
98.6
100.5
103.5
100.9
100.4
102.4
108.8
107.5
94.5
103.7
104.5
107.0
107.2
101.0
101.1
103.0
100.1
100.3
103.7
99.4
99.3
103.8
108.7
103.6
98.6
103.9
103.4
105.6
101.7
101.5
101.5
101.0
102.5
102.5
98.7
100.7
106.2
109.9
98.1
100.3
102.9
104.1
106.3
COMPOSITE I N D E X OF I N V E N T O R Y I N V E S T M E N T AND P U R C H A S I N G
(1967=100
92 .9
88.5
93.1
102.3
92.6
97.4
89.8
97.6
97.4
94.8
91.1
99.3
94.8
93.4
98.9
98.3
92 .4
88.0
93.8
102.2
93.4
97.6
90.2
99.3
97.1
93.7
91.2
99.8
93.4
94.4
98.5
98.9
92.6
87.2
95.0
100.1
93.9
96 .9
90.9
99.6
97.0
93.2
91.3
100.2
92.8
95.9
96.5
99.4
92.9
86.4
96.9
98.3
93.3
95.6
91.9
98.9
96.1
93.6
92.2
99.3
93.0
96.8
95.8
99.1
93.7
85.9
97.8
97 .0
95.2
95.3
92.8
98 .5
95.4
94.3
93.2
98.3
93.6
97.3
95.4
98.1
94.2
87.4
101.6
95.8
95.4
95.0
92.5
99.4
95.8
94.7
94.5
97.5
94.2
97.0
96.2
97.4
93.8
90.5
103.6
94.2
94.8
93.1
92.1
100.1
96.2
94.3
95.6
97.2
94.4
97.6
96.7
97.3
92.7
92.6
102.0
93.7
95.0
90.7
92 .8
100.2
96.7
93.4
96.8
98.0
94.7
97.8
97.2
97.7
91.4
93.2
101.7
94.4
94.8
88.9
94.3
99.7
97.1
92.3
97.3
97.9
94.2
97.8
97.6
98.1
90.2
93.3
100.4
93.1
95.2
88 .4
95.8
99.1
96.6
90.8
98.1
97.1
93.9
97.7
97.5
98.4
89.0
91.8
99 .8
92.8
95.9
88.6
96.5
98.2
95.9
90.1
97.4
97.2
93.6
98.0
97.2
98.2
99.2
102.1
102.9
100.6
101.7
103.1
100.5
100.3
101.6
107.3
110.6
94.3
100.2
102.3
104.8
107.4
98.9
102.2
104.3
100.6
101.8
102.8
100.4
101.2
102.0
108.2
110.5
92.9
101.1
102.7
105.9
108.3
99.3
101.5
105.4
99.3
101.1
102.8
99.9
101.5
102.5
108.9
109.8
92.1
102.0
104.1
106.3
108.8
100.0
101.6
105.0
98.9
100.4
103.4
100.1
101.1
102.2
108.7
109.0
93.2
102.9
105.0
106.9
107.8
100.2
101.6
104.1
98.3
100.5
103.5
101.4
100.5
102.3
108.9
107.6
94.5
103.8
104.7
107.2
107.3
99.8
101.3
103.6
98.7
100.5
103.7
101.2
99.6
102.7
108.9
105.8
95.9
104.5
103.8
106.9
106.6
100.4
101.3
103.5
99.4
100.5
103.7
99.6
99.2
102.9
108.9
104.7
97.3
104.3
103.0
105.2
100.6
101.3
103.3
100.5
99.8
103.7
99.2
99.1
103.8
108.6
104.1
98.4
104.2
103.3
105.8
102.1
100.8
102.2
100.5
100.6
103.8
99.4
99.5
104.8
108.5
102.0
100.0
103.2
103.8
105.8
101.6
100.7
101.8
100.5
101.8
103.5
98.5
100.4
105.9
109.0
100.2
100.8
102.3
104.3
106.1
101.7
101.4
101.6
100.8
103.0
102.3
98.3
100.7
106.2
110.3
98.1
100.4
103.2
103.8
106.2
101.9
102.3
101.2
101.7
102.8
101.7
99.3
101.1
106.6
110.5
95.9
99.6
103.3
104.3
106.7
NOTE: These series contain no revisions but are reprinted for the convenience of the user
112.5
108.5
101.1
104.3
110.1
115.8
116.3
AVERAGE FOR PERIOD
93.3
88.9
92.1
102.6
92.9
97.0
89.0
97.0
97.7
95.4
91.2
97.8
96.2
93.1
98.5
97.4
1980. ..
102
IV Q
101.5
90.9
94.2
97.8
94 .6
97.0
92.6
98.3
97.7
94.7
91.9
97.3
97.2
93.0
95.6
96.7
915.
1948.
1949.
1950.
1951.
1952.
1953.
1954.
III Q
92.4
89.5
98.2
97.2
94.4
93.7
92.4
99.0
96.6
93.4
94.2
98.3
94.1
96.4
97.2
98.2
100.5
101.5
103.2
100.0
101.2
103.2
99.8
100.4
103.6
108.9
104.9
96.6
102.9
103.8
106.2
(SEPTEMBER 1980)
C. Historical Data for Selected Series—Continued
Monthly
Year
Jan.
Feb.
Mar.
Apr.
916.
1948. . .
1949. . .
1950. . .
1951.. .
1952. . .
1953.. .
1954.. .
1955.. .
1956. . .
1957...
1958. . .
1959. . .
1960. . .
1961. . .
1962 . . .
1963.. .
1964...
1965. . .
1966. . .
1967...
1968. . .
1969...
1970. . .
1971. . .
1972.. .
1973.
1974.
1975.
1976.
. .
. .
. .
..
1977...
1978. . .
1979. . .
1980. . .
1949...
1950. ..
1951. . .
1952. . .
1953.. .
1954...
1955.
1956.
1957.
1958.
1959.
..
..
. .
. .
. .
1960...
1961.. .
1962. ..
1963.. .
1964. . .
1965. . .
1966. . .
1967. . .
1968. . .
1969. . .
1970...
1971. . .
1972. . .
1973...
1974. . .
1975...
1976. ..
1977...
1978. . .
1979. . .
1980. . .
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
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
90.4
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
91.4
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
92.1
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
92.4
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
93.2
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
92.2
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
92.2
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
92.3
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
91.7
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
91.8
. .
..
. .
..
..
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. . .
Aug.
Sept.
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
92.5
Nov.
Dec.
IQ
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
II Q
III Q
Annual
IV Q
AVERAGE FOR PERIOD
71.3
82.3
82.7
81.1
75.6
86.0
85.5
82.3
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
71.1
71.8
75.0
76.5
74.2
71.9
75.5
85.1
81.6
80.6
79.7
85.8
82.7
86.3,
72.1
70.3
76.0
76.6
74.9
69.4
78.6
84.5
81.0
77.7
83.6
85.2
81.3
88.5
71.0
70.9
73.9
75.3
74.8
72.3
74.7
83.9
81.8
80.1
78.9
86.2
83.3
85.5
90.2
92.0
93.1
93.6
92.2
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
92.5
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
91.9
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
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
94.2
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
71.2
71.6
75.8
77.0
74.2
70.7
76.3
85.2
81.2
79.7
80.9
85.0
82.1
86.9
72.2
70.8
76.4
76.9
74.4
69.8
77.3
84.3
81.0
78.5
82.4
84.9
81.3
87.6
72.3
69.9
76.5
76.5
75.1
68.8
78.5
84.9
80.8
77.7
83.8
84.9
81.2
88.7
93. *2
93.5
93.4
93!3
71.8
70 .3
75.2
76.4
75.3
69.6
80.1
84.2
81.2
76.8
84.6
85.7
81.3
89.3
89 9
94. 'l
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
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
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
94.1
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
93.5
54.4
56 .1
56.0
56.5
59.6
57.4
62.9
67.6
64.4
63.0
68.1
68.5
68 .7
73.3
76.9
82.8
54.5
56.0
55.9
57.6
54.6
62.2
69.4
67.3
68.5
74.3
76.9
83.3
54.6
56.7
55.4
57.4
60.0
57.0
63.6
67.1
64.7
62.1
69.9
67 .6
68.2
74.7
77.9
83.0
57.7
53.5
58.6
60.0
58.0
64.5
66.2
65.3
62.5
71.0
68.7
68.7
75.6
80.0
54.4
55.8
59.1
53 .5
58.2
60.3
59.0
65.7
64.5
64.9
64.1
71.8
67.4
71.0
76.6
81.7
53.9
56.2
57.5
55.9
58.6
58.9
61.4
67.5
64.0
63.8
65.7
71.4
68.0
72.8
77.0
82.2
54.5
56.3
55.8
57.0
59.9
57.0
63.3
67.4
64.6
62.4
69.1
67.8
68.5
74.1
77.2
83 .0
55.1
55.7
57.5
55.0
58.8
59.1
60 .4
66 .3
64 .8
64.1
65.4
70.5
68.1
71.6
76.6
81.7
87 .9
94.2
90 .9
103 .7
109.3
103.5
107.8
120.2
133.5
133.4
123.9
126.8
137.9
148.8
150 .6
88 .5
94.7
90 .4
103.9
110.2
103 .7
108.0
119.8
134.8
132.8
122.0
128.4
139.3
148.8
151.1
88.8
95.2
91.8
103.5
111.1
102.8
109.2
121.0
137.0
133.4
119.6
129.3
140.4
148.5
150.2
83.7
89.8
95.5
95.2
103.3
110.3
102.0
114.0
125.3
138.4
134.6
118.5
131.6
142.2
148.0
146.2
85.2
90.9
96.2
98.7
104.8
108.0
103.1
118.4
127.4
136.4
132.7
120.7
133.7
142.7
147.9
147.1
86.7
93.1
92.6
102.4
107.4
103.5
104.9
120.9
130.4
135.3
127.8
126.8
135.9
146.6
149.3
88.4
94.7
91.0
103.7
110.2
103.3
108.3
120.3
135.1
133.2
121.8
128.2
139.2
148.7
150.6
86.0
92.1
93.8
100.0
106.4
106.3
104.6
118.4
129.6
135.8
129.2
123.5
135.1
145.1
149.0
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
69.1
71.0
71.1
73.8
75.6
74.7
COMPOSITE I N D E X OF MONEY AND F I N A N C I A L FLOWS 2
(1967=100)
AVERAGE FOR PERIOD
57.5
54.5
57.7
53.1
58.7
59.9
58.0
64.7
66.2
65.3
62.6
71.0
69.0
68.7
75.5
80.1
57.9
54.8
58.0
52.8
58.9
60.2
58.4
64.7
65.9
65 .6
63.0
71.1
68.8
69.3
76.0
80.5
55.5
55.3
58.9
52.8
58.4
60.5
58.5
64.9
65.3
65.4
63.6
71.5
68.2
70.1
76.6
81.2
54.1
56.0
59.2
53.4
58.1
60.5
59.0
65.6
64.2
65.1
64.1
72.0
67.2
70.9
76.6
81.8
53.7
56.0
59.1
54.3
58.0
59.9
59.6
66.6
64.0
64.2
64.6
72.0
66.8
71.9
76.7
82.1
53.4
56.6
58.4
55.3
58.0
59.4
60.6
67.5
63.9
63.9
64 .9
72.2
67.3
72.6
76.9
82.1
53.8
56.3
57.6
56.1
58.5
59.0
61.5
67.6
63.9
63.9
65.5
71.6
68.0
73.0
77.1
82.1
54/4
55.8
56 .6
56.4
59.3
58.3
62.0
67.4
64.3
63.5
66.8
70 .3
68 .7
72.8
77.1
82.5
83.2
89.1
95.7
93.1
103.0
111.1
102.3
111.4
123.3
138.8
134.6
118.4
130.7
141.2
148.5
148.6
83.7
90.0
95.4
95.5
103.2
110.5
101.5
114.3
125.7
138.7
134.9
117.9
132.0
142.2
148.0
145.6
84.1
90.4
95.5
97.0
103.7
109.4
102.1
116.4
127.0
137.7
134.2
119.1
132 .0
143.3
147.4
144.5
84.6
90.5
96.2
97.5
104.2
108.8
103.1
117.5
127.2
136.4
133.7
118.9
133.0
143.3
147.5
146.1
85.3
90.6
96.7
98.6
104.8
108.4
103.3
118.3
127.1
136.2
132.7
119.6
133.7
142.2
147.8
146.9
85.8
91.5
95.8
100.0
105.5
106.8
103.0
119.5
128.0
136.7
131.7
123.5
134.5
142.5
148.5
148.4
86.3
92.5
94.1
101.6
106.2
104.6
103.1
120.7
129.1
136.8
130.2
125.8
135.4
144 .8
148.9
86.6
93.2
92.1
102.5
107.5
103.0
104.9
121.3
130.3
134.9
127.9
127.5
135.9
146.9
149.1
87.1
93.5
91.6
103.0
108.5
103.0
106.7
120.6
131.9
134.2
125.4
127.1
136.5
148.2
149.9
RATIO, COINCIDENT COMPOSITE INDEX TO L A G G I N G COMPOSITE
(1967=100)
57.
60.
56.
63.
67.
64.
INDEX2
AVERAGE FOR PERIOD
93.0
92.7
98.1
90.8
96 .0
98.9
99.1
105.5
99.2
115.0
98.5
96.8
94.4
94.7
101.1
94 .9
92.1
94.5
93.7
90.5
97.0
98.8
99.1
104.9
101.1
110.9
97.6
99.0
92.7
96.0
101.1
95.3
90.6
95.0
92.2
90.7
96.7
98.4
99.4
106 .4
95.6
109.4
97.8
99.8
92.5
96.9
101.0
96.1
90.8
95.6
90.9
90.7
98.1
98.2
99.4
103 .8
98.7
106.3
97.8
99.8
91.3
98.2
100.6
95.0
88.8
98.1
91.8
89.4
100.0
98.2
98.0
103.5
100.2
108.3
96.8
99.2
90.0
99.4
101.3
95.8
87.2
96.9
96.0
87.8
100.3
97.8
98.4
108.4
99.6
102.8
105 .4
96.8
98.5
90.2
101.0
99.6
95.3
86.4
99.5
95.3
89.0
99.5
98.3
107.5
98 .0
108.2
101.7
95.5
96.4
91.8
103.7
96.4
93.4
87.8
100.9
92.2
93.2
99.4
99.7
105.6
99.2
113.2
98.3
96.1
94.2
94.6
101.9
93.6
91.9
94.1
94.7
90.7
96.6
98.7
99.2
104.6
98.2
108.0
97.5
99.6
91.3
98.2
101.0
95.6
88 .9
96.9
92.9
89.3
99.5
98.1
98.6
106.5
98.7
108.0
100.7
97.0
95.1
93.7
101.9
96.3
92.4
91.3
97.0
91.9
94.6
98.9
99.0
101.4
102.8
100.8
99.3
102.3
96.9
94.5
102.1
109.9
102.7
89.2
93.8
103.0
105.2
97.9
101.0
102.3
100.1
100.5
101.9
96.9
93.9
100.8
111.0
99.8
88.4
95.3
103.6
104.3
97.9
100.6
103.2
100.2
100.4
102.0
96.5
94.3
101.6
110.5
98.7
87.6
96.2
102.6
103.8
96.6
99.3
103.6
100.5
100.8
102.8
96.2
93.2
102 .4
111.4
99.5
86.8
96.1
102.8
103.4
96.6
101.8
103.7
99.3
102.0
102.8
95.5
93.5
103.9
112.0
99.8
85.4
98.2
104.5
102.7
94.5
102.5
103.7
99.1
102.2
101.6
95.1
96.6
105.1
112.4
98.1
82.9
99.0
106.0
103.0
93.8
99.2
101.9
103.4
99.1
102.1
100.5
93.6
100.2
109.1
110.2
96.3
83.5
102.0
105.7
99.7
92.0
100.3
101.7
101.8
99.3
101.6
98.1
94.8
102.7
109.8
105.9
91.7
90.0
103.4
105.8
99.8
89.1
101.0
102.8
100.4
100.1
102.1
96.8
94.2
101.5
110.5
100.4
88 .4
95.1
103.1
104.4
97.5
101.2
103.7
99.6
101.7
102.4
95.6
94.4
103.8
111.9
99.1
85.0
97.8
104.4
103.0
95.0
100.4
102,5
101.3
100.0
102.0
97.7
94.3
102.1
110.3
103.9
90.4
91.6
103.2
104.8
98.0
108.9
100.6
101.7
107.1
96.0
98.6
89.6
100.3
100.4
94.6
86.9
98.7
97.2
88.6
98.6
97.9
108.0
99.4
101.5
105.1
97.5
98.3
90.4
100.8
99.9
95.8
86.5
99.4
95.2
88.5
99.9
98.4
108.4
98.8
105.1
104.0
96.9
98.5
90.6
101.9
98.4
95.4
85.7
100.4
93.4
89.9
99.9
98.7
107.0
98.6
106.8
103.2
96.9
96 .9
90.8
103.7
97.9
93.8
85.4
101.2
93.5
91.5
99.9
99 .6
107.4
97.6
107.9
101.6
95.9
96.4
91.6
104.3
95.9
93.3
87.7
101.3
92.1
93.0
99.6
99.7
108.2
97.7
110.0
100.2
93.8
96 .0
92.9
103.1
95.3
93.1
90.4
100.3
91.0
95.2
98.7
99.7
106.4
97.3
113.
99.1
101.9
103.8
99.4
102.0
100.6
93.5
99.6
108.0
110.9
96.1
82.1
100.7
105.1
99.9
92.0
99.4
101.9
103.2
99.1
102.0
100.6
93.4
99.9
109.2
110.4
96.4
83.7
102.2
105.5
99.3
91.4
. 99.0
101.9
103.2
98.7
102.4
100.2
93.9
101.1
99.8
101.5
102.2
99.5
101.9
99.1
95.2
102.3
110.2
107.1
93.4
87.3
103.9
106.3
101.1
89.1
100.6
101.5
101.7
99.2
101.3
98.4
95.0
102.4
110.0
106.2
91.1
89.4
103.5
106.1
99.6
89.6
100.4
102.0
101.6
99.1
101.6
96.9
94.2
103.5
109.1
104.5
90.5
93.3
102.9
105.0
98.7
88.6
110.0
109.3
96.5
84.8
103.1
106.6
99.8
92.6
Oct.
70.7
72.5
75.3
76.8
74.0
72.4
75.4
84 .9
81.7
80.7
79.6
85.6
82.9
86.4
57.3
54.4
57.4
54.7
58.1
59.9
57.5
64.1
66.6
65.0
61.8
70.8
68.3
68.1
75.3
79.3
940.
1948.
1949.
1950.
1951.
1952.
July
COMPOSITE I N D E X OF PROFITABILITY 1
(1967=100)
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
90.1
917.
1948. . .
June
May
Quarterly
98.
92.
95.
93.
103.
90.
1980.. .
'This series contains revisions beginning with 1978.
2
This series contains no revisions but is reprinted for the convenience of the user
(SEPTEMBER 1980)
1f)3
C. Historical Data for Selected Series—Continued
Quarterly
Monthly
Year
Jan.
961.
1948. . .
1949. . .
1950. ..
1951...
1952...
1953. ..
1954. ..
1955. ..
1956. . .
1957...
1958. . .
1959. ..
1960. . .
1961. . .
1962. ..
1963. . .
1964. . .
1965. . .
1966. . .
1967.. .
1968. . .
1969. . .
1970. . .
1971. . .
1972. . .
1973. . .
1974. . .
1975.. .
1976...
1977. ..
1978. . .
1979. . .
1980...
963.
May
37.5
52.5
62.5
42.5
42 .5
42.5
75.0
82.5
30.0
77.5
17.5
62.5
12.5
57.5
60.0
42.5
57.5
27.5
65.0
72.5
37.5
85.0
27.5
82.5
25.0
22.5
62.5
72.5
32.5
57.5
77.5
55.0
42.5
12.5
80.0
77.5
25.0
45.0
30.0
42.5
70.0
47.5
40.0
75.0
37.5
80.0
77.5
20.0
47.5
57.5
62.5
22 .5
80.0
27.5
67.5
92.5
0.
90.0
52.5
82.5
45.0
75.0
40.0
47.5
15.0
87.5
32 .5
72.5
57.5
50.0
37.5
30.0
32.5
37.5
90.0
67.5
77.5
17.5
40.0
57.5
17.5
27.5
20.0
45.0
90.0
55.0
10.0
70.0
25.0
80.0
85.0
35.0
85.0
65.0
30.0
90.0
52.5
35.0
75.0
12.5
27.5
90.0
50.0
90.0
25.0
2.5
1964. . .
1965. . .
1966. . .
1967. ..
1968. . .
1969. . .
1970. . .
1971. . .
1972. . .
1973. . .
1974. . .
1975...
1976. . .
1977.. .
1978. . .
1979.. .
1980. ..
Apr.
30.0
32.5
90.0
57.5
75.0
17.5
22.5
92.5
35.0
35.0
27.5
92.5
45.0
92.5
25.0
82.5
52.5
1948. . .
1949. . .
1950. . .
1951. . .
1952. ..
1953. ..
1954. . .
1955...
1956. . .
1957. . .
1958. . .
1959...
1960. ..
1961...
1962. . .
1963...
Mar.
June
July
Aug.
Sept.
Nov.
Oct.
Dec.
IQ
DIFFUSION INDEX OF AVERAGE WORKWEEK OF PRODUCTION WORKERS, MANUFACTURING- -20 INDUSTRIES
(PERCENT RISING OVER 1-MONTH SPANS)
60.0
57.5
72.5
15.0
52.5
35.0
75.0
50.0
42.5
27.5
27.5
100.0
10.0
961.
Feb.
5.0
90.0
17.5
17.5
22.5
72.5
92.5
42.5
10.0
17.5
97.5
75.0
37.5
0.
5.0
10.0
65.0
70 .0
80.0
45.0
25.0
85.0
5.0
92.5
40.0
52.5
87.5
37.5
50.0
17.5
77.5
37.5
30.0
45.0
92.5
32.5
22.5
97.5
35.0
67.5
37.5
70.0
82.5
25.0
22.5
37.5
65.0
25.0
75.0
45.0
82.5
42.5
42.5
60.0
42.5
62.5
70.0
45.0
77.5
22.5
87.5
35.0
55.0
62.5
22.5
42.5
80.0
32 .5
25.0
70.0
40.0
35.0
12.5
82.5
30.0
75.0
87.5
40.0
30.0
40.0
55.0
60.0
40.0
60.0
52.5
80.0
32.5
40.0
80.0
15.0
80.0
62.5
32.5
62.5
55.0
20.0
72.5
35.0
32.5
82.5
55.0
30.0
57.5
30.0
75.0
70.0
22.5
47.5
75.0
70.0
42.5
62.5
62.5
55.0
52.5
20.0
27.5
62.5
32 .5
50.0
87.5
20.0
62.5
45.0
45.0
5.0
87.5
40.0
50.0
72.5
2.5
100.0
27.5
20.0
10.0
90.0
22.5
42.5
85.0
57.5
72.5
87.5
85.0
10.0
65.0
45.0
5.0
65.0
85.0
57.5
20.0
0.
82.5
82.5
77.5
15.0
60.0
15.0
92.5
42.5
40.0
25.0
52.5
100.0
15.0
15.0
15.0
95.0
30.0
87.5
82.5
35.0
65.0
77.5
85.0
12.5
70.0
22.5
10.0
87.5
90.0
37.5
10.0
15.0
60.0
90.0
65.0
10.0
32.5
12.5
100.0
15.0
45.0
15.0
35.0
85.0
45.0
15.0
100 .0
25.0
55.0
7.5
7.5
47.5
95.0
20.0
77.5
5.0
17.5
42.5
90.0
27.5
75.0
67.5
95.0
22.5
67.5
95.0
22.5
95.0
30.0
70.0
42.5
85.0
12.5
12.5
92.5
72.5
10.0
90.0
70.0
82.5
72.5
85.0
55.0
12.5
65.0
22.5
17.5
80.0
90.0
45.0
10.0
22.5
75.0
80.0
40.0
15.0
90.0
77.5
52.5
25.0
40 .0
40.0
12.5
77.5
92.5
35.0
50.0
27.5
42.5
35.0
77.5
42.5
15.0
45.0
80.0
77.5
0.
40.0
85.0
5.0
2.5
60.0
57.5
82.5
52.5
17.5
2.5
67.5
25.0
82.5
70.0
30.0
17.5
45.0
90.0
20.0
72.5
15.0
57.5
90.0
15.0
5.0
90.0
42.5
10.0
97.5
50.0
80.0
87.5
52.5
32.5
27.5
87.5
25.0
10.0
65.0
77.5
67.5
15.0
65.0
12.5
90.0
95.0
17.5
12.5
50.0
95.0
27.5
75.0
7.5
72.5
90.0
12.5
0.
100.0
42.5
10.0
95.0
47.5
67.5
72.5
62.5
10.0
72.5
32 .5
62.5
15.0
75.0
75.0
42.5
0.
90.0
32.5
45.0
82.5
32.5
0.
47.5
95.0
20.0
80.0
0.
80.0
80.0
27.5
0.
95.0
45.0
7.5
87.5
25.0
60.0
95.0
70.0
15.0
65.0
55.0
20.0
15.0
77.5
50.0
27.5
5.0
95.0
45.0
67.5
47.5
25.0
34.2
49.2
49.2
55.0
52.5
47.5
70.0
55.8
47.5
23.3
58.3
55.8
36.7
57.5
32.5
52.5
39.8
48.3
65.4
49.8
55.4
38.1
54.0
63.1
41.9
37.7
60.0
55.6
35.4
64.6
46.9
57.1
87.5
72.5
22.5
37.5
45.0
70.0
60.0
77.5
20.0
32.5
15.0
90.0
55.0
40 .0
57.5
65.0
45.0
62.5
60.0
41.7
40.0
52.5
28.3
56.7
60.0
61.7
35.8
22.5
50.0
48.3
55.8
52.5
50.8
44.2
48.3
47.5
55.8
40.0
38.3
57.5
60.8
38.3
46.7
66.7
43.3
61.7
50.8
41.7
50.0
41.7
43.3
62.5
57.5
49.2
37.5
33.3
46.7
58.3
34.2
78.3
38.3
50.8
50.8
64.2
71.7
73.3
35.0
50.0
36.7
47.5
60.8
80.8
49.2
42.5
16.7
70.8
62.5
51.7
53.3
53.3
54.4
55.4
46.7
50.4
47.5
47.3
41.2
57.1
54.2
50.2
33.3
59.6
48.5
53.1
52.7
52.9
0.
87.5
75.0
25.0
87.5
2.5
90.0
55.0
30.0
7.5
95.0
17.5
25.0
95.0
22.5
80.0
55.8
10.8
93.3
32.5
45.0
37.5
30.0
95.0
14.2
17.5
22.5
91.7
26.7
68.3
78.3
62.5
23.3
35.8
95.0
21.7
68.3
41.7
17.5
72.5
67.5
57.5
77.5
20.0
17.5
42.5
82.5
77.5
17.5
27.5
47.5
52.5
82.5
62.5
10 .0
17.5
47.5
85.0
22.5
72.5
25.0
67.5
60.0
72.5
62.5
70 .0
50.0
42.5
47.5
27.5
75.0
87.5
57.5
25.0
27.5
50.0
72.5
80.0
35.0
37.5
65.0
77.5
32.5
70.0
17.5
45.0
47.5
77.5
70.0
70.0
20.0
90.0
85.0
30 .0
95.0
INDUSTRIES
92.5
35.0
35.0
67.5
27.5
50.0
5.0
80.0
80.0
35 .0
65.0
0.
92.5
42.5
52.5
10.0
97.5
12.5
10.0
92.5
17.5
62.5
82.5
90.0
15.0
32.5
85.0
22.5
42.5
77.5
27.5
20.0
35.0
100.0
50.0
10.0
22.5
90.0
85.0
97.5
7.5
72.5
22.5
7.5
32.5
77.5
70.0
27.5
0.
100.0
62.5
25.0
62.5
45.0
2.5
92.5
85.0
15.0
5.0
7.5
FOR P E R I O D
40.0
65.8
63.3
40.8
65.8
26.7
45.8
53.3
55.0
48.3
80.0
31.7
28.3
57.5
55.0
58.3
17.5
62.5
42.5
82.5
65.0
32.5
45.0
35.0
70.0
35.0
47.5
72.5
7.5
17.5
30 .0
77.5
72.5
60.0
35.0
67.5
57.5
Annual
IV Q
37.5
72.5
57.5
51.7
48.3
41.7
85.8
30.0
45.0
35.8
75.8
30.0
69.2
54.2
60.0
32.5
27.5
42 .5
62.5
27.5
27.5
92.5
60.0
15.0
30.0
90.0
42.5
12.5
70.0
62.5
22.5
DIFFUSION I N D E X OF AVERAGE WORKWEEK OF PRODUCTION WORKERS, MANUFACTURING — 20
(PERCENT R I S I N G OVER 9-MONTH SPANS)
75.0
AVERAGE
III Q
43.3
40.8
76.7
45.8
51.7
30.0
58.3
57.5
35.0
34.2
65 .8
59.2
46.7
74.2
45.8
57.5
52.5
57.5
62.5
20.0
65.0
82.5
72.5
72.5
57.5
5.0
37.5
52.5
90.0
85.0
5.0
57.5
7.5
II Q
DIFFUSION INDEX OF NUMBER OF EMPLOYEES ON PRIVATE NONAGRICULTURAL PAYROLLS--172
(PERCENT RISING OVER 1-MONTH SPANS)
AVERAGE
5.0
85.0
67 .5
32.5
90.0
5.0
95.0
30.0
57.5
10.0
97.5
20.0
15.0
77.5
40.0
55.0
92.5
95.0
12.5
62.5
40.0
15.0
52.5
92.5
67.5
32.5
5.0
95.0
60.0
67.5
70.0
32.5
57.5
85.0
10.0
27.5
45.0
5.0
45.0
95.0
72.5
7.5
2.5
72.5
65.0
100.0
12.5
27.5
70.0
83.3
75.0
11.7
66.7
30.0
10.8
77.5
88.3
46.7
13.3
12.5
72.5
84.2
60.8
13.3
INDUSTRIES
9.2
FOR PERIOD
10.8
62.5
91.7
25.8
83.3
3.3
3.3
84.2
74.2
30.8
80.8
2.5
46.7
86.7
10.8
13.3
83.3
70.0
14.2
94.2
50.0
77.5
81.7
85.0
18.3
95.8
40.8
17.5
83.3
33.3
59.2
96.7
16.7
16.7
88.3
26.7
65.8
75.8
52.5
42.5
29.2
68.3
35.8
12.5
62.5
83.3
60.0
83.3
74.2
13.3
56.7
57.5
35.0
24.2
76.7
50.8
30.0
13.3
95.0
42.5
40.8
50.8
49.2
78.3
92.5
10.0
54.2
35.8
6.7
64.2
31.7
85.0
72.5
21.7
1.7
92.5
42 .5
46.7
9.2
9.2
43.3
88.3
70.0
22.5
2.5
89.2
62.5
64.2
48.3
35.0
23.3
48.3
88.5
27.7
69.4
13.1
62.7
77.3
22.5
10.4
74.6
54.8
18.8
83.5
47.1
66.2
76.9
75.6
35.2
37.9
57.1
27.5
22.7
76.2
73.1
39.8
9.0
65.2
52.3
68.5
58.1
29.8
AVERAGE FOR PERIOD
1948. . .
1949. . .
1950 . . .
1951. . .
1952 . .
1953 . . .
1954 . . .
1958. . .
1959. . .
1960. . .
1961...
1962. ..
1963...
1964. ..
1965. ..
1966...
1967. . .
1968. . .
1969. ..
1970.. .
1971...
1972...
1973.. .
1974.. .
1975. . .
1976. . .
1977...
1978.. .
1979. . .
1980...
NOTE:
83.0
67.5
40.8
56.9
57.5
11.0
64.4
70.9
36.2
72.5
46.4
17.3
77.3
46.3
55.1
60.8
65.9
19.2
77.6
52.1
55.1
71.6
65.9
35.8
79.8
43.9
69.5
62.9
64.4
50.3
69.6
37.4
70.1
57.2
53.0
54.4
65.0
43.3
62.6
53.3
61.4
72.3
55.5
39.3
69.5
63.2
61.7
84.0
72.1
34.0
53.9
53.6
61.7
68.6
48.2
35.0
69.5
57.2
60.5
74.2
58.3
29.1
70.4
46.1
47.6
71.1
73.6
21.2
68.6
50.0
58.4
57.2
70.4
73.1
63.8
45.3
64.5
50.9
41.6
71.5
70.1
62.2
18.3
75.0
72.4
68.6
66.9
70.1
70.4
79.3
42.2
72.7
69.5
44.8
37.5
75.6
79.7
58.4
22.1
71.8
66.9
68.6
66.3
61.7
76.3
81.4
50.3
59.6
66.0
39.0
41.0
68.9
68.3
47.7
27.3
67.7
73.5
71.8
62.2
65.9
71.6
74.9
49.1
65.1
62.2
30.8
57.6
63.4
61.0
51.2
41.6
70.6
72.4
69.8
49.7
69.2
65.3
71.6
47.4
58.7
59.3
25.6
65.7
62.8
50.0
51.5
51.5
59.3
71.2
61.9
58.1
62.3
66.8
77.8
57.8
69.2
70.1
34.6
38.4
66.0
57.6
49.7
44.8
52.3
65.1
64.2
57.8
72.8
77.8
65.9
51.5
64.2
62.2
51.2
57.3
45.9
54.4
49.4
57.3
59.6
64.0
61.0
57.0
62.3
64.1
66.5
63.7
66.3
58.7
31.4
49.1
61.6
53.5
43.0
71.8
56.7
60.5
67.7
54.4
80.8
79.0
42.5
50.9
58.7
42.2
48.0
77 .0
62.8
51.7
33.4
67.7
68.3
70.1
67.2
52.9
56.0
74.6
67.1
53.5
69.5
55.8
28.5
46.8
66.3
65.1
36.3
67.2
48.0
65.1
68.0
65.1
65.6
79.9
64.7
70.9
74.4
54.4
28.2
63.1
73.5
76.7
25.0
59.3
64.5
71.8
75.3
55.2
68.9
80.5
65.0
66.3
67.2
59.3
41.9
62.5
73.5
70.1
20.6
70.1
62.2
75.0
74.7
53.5
These series contain revisions beginning with 1975.
http://fraser.stlouisfed.org/
104
Federal Reserve Bank of St. Louis
61.6
44.0
63.4
56.6
35.1
75.7
44.5
64.9
63.9
61.1
70.2
64.2
38.9
62.0
56.7
61.6
71.3
60.0
28.4
69.5
51.1
55.5
68.7
43.3
60.1
58.8
58.7
63.0
72.4
77.9
52.1
59.2
66.7
44.9
40.0
72.0
72.7
56.1
22.6
71.5
70.9
69.7
65.1
65.8
67.9
74.8
51.4
64.3
63.9
30.3
53.9
64.1
56.2
50.8
46.0
60.7
69.6
65.3
55.2
72.0
73.6
58.3
55.4
63.1
54.4
43.5
61.1
56.8
53.2
41.9
65.6
61.5
64.9
65.3
54.8
63.5
78.3
65.6
63.6
70.4
56.5
32.9
57.5
71.1
70.6
27.3
65.5
58.2
70.6
72.7
57.9
66.1
73.1
69.2
55.6
64.2
60.4
37.9
53.1
66.0
63.2
44.0
49.9
63.0
69.0
68.2
58.3
74!9
(SEPTEMBER 1980)
C. Historical Data for Selected Series—Continued
Quarterly
Monthly
Year
Jan.
963.
1948. . .
1949. . .
1950. ..
1951 ..
1952 . . .
1953 . . .
1954. . .
1955. . .
1956 . . .
1957. . .
1958. . .
1959. . .
1960. . .
1961. . .
1962...
1963...
1964. ..
1965...
1966. . .
1967 .. .
1968. . .
1969.. .
1970. ..
1971...
1972. ..
1973...
1974. . .
1975. ..
1976. . .
1977...
1978. . .
1979...
1980...
964.
1948.
1949.
1950.
1951.
..
..
. .
..
1952...
1953...
1954...
1955.. .
1956.. .
1957. . .
1958...
1959.
1960.
1961.
1962.
1963.
..
. .
..
..
. .
1964. ..
1965...
1966.. .
1967. . .
1968. . .
1969...
1970. . .
1971. . .
1972. . .
1973...
1974. ..
1975...
1976. . .
1977. . .
1978. ..
1979. . .
1980. ..
964.
1948.
1949.
1950.
1951.
1952.
1953.
1954.
1955.
..
..
..
..
..
..
..
..
1956.. .
1957. . .
1958...
1959.
1960.
1961.
1962.
..
..
..
..
1963...
1964...
1965...
1966...
1967. . .
1968...
1969. . .
1970 . . .
1971...
1972...
1973...
1974. ..
1975...
1976. . .
1977. . .
1978. . .
1979...
1980...
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
IQ
D I F F U S I O N INDEX OF NUMBER OF EMPLOYEES ON PRIVATE N O N A G R I C U L T U R A L PAYROLLS--172 INDUSTRIES 1
(PERCENT R I S I N G OVER 6-MONTH S P A N S )
II Q
III
Q
IV Q
Annual
AVERAGE FOR PERIOD
92.1
70.2
24.2
77.5
58.4
89.9
66.9
28.2
77.2
63.8
89.3
54.6
55.8
75.4
64.4
15.4
83.4
46.6
59.0
71.3
66.8
23.9
81.3
38.3
73.7
68.0
74.3
49.4
77.3
36.5
71.6
67.4
71.3
66.4
66.0
26.7
78.1
61.1
68.6
76.4
60.4
24 .5
76.9
50.9
61.7
80.8
63.5
21.5
75.7
49.7
65.9
87.4
66.6
19.9
70.4
52.4
64.7
90.3
72.4
20.2
73.1
45.5
65.6
86.8
63.5
20.9
72.5
54.2
67.7
90.4
63.9
36.1
76.7
62.2
29.6
80.7
40.5
68.1
68.9
70.8
74.5
63.3
24.2
76.9
53.9
65.4
88.2
67.5
20.3
72.0
50.7
66.0
75.5
37.2
63.3
62.6
66.1
66.5
80.8
88.3
61.1
73.5
76.7
41.0
38.4
82.0
88.4
67.2
11.6
84.9
86.0
82.3
74.7
71.9
78.4
85.9
53.6
70.9
71.2
34.9
43.6
83.4
84.0
60.8
13 .1
86.0
85.8
82.8
71.8
74.3
81.1
85.9
52.1
75.0
73.5
28.2
44.2
86.3
76.2
54.9
19.2
78.5
84.9
79.9
64.0
78.1
80.5
81.7
48.8
77.9
77.3
30.5
49.4
79.1
70.6
52.6
30.5
75.3
80.8
74.7
60.5
74.9
82.3
79.0
52.3
73.5
77.0
20.3
50.6
74.1
63.4
46.2
49.7
70.1
80.2
75.3
53.8
80.5
85.9
74.3
51.7
75.3
70.6
22.7
61.6
72.4
58.1
42.4
57.8
73.3
77.9
74.7
51.5
78.7
86.8
77.2
59.6
78.5
67.7
24.1
55.2
75.0
62.2
37.2
68.0
63.7
74.1
73.3
58.1
82.6
87.4
74.9
66.0
78.5
59.3
24.1
56.1
78.5
71.5
31.7
70.9
67.7
76.7
77.6
55.5
82.6
89.2
71.3
67 .7
77.6
57.3
28.8
62.8
77.9
71.8
23.0
76.5
68.3
79.1
80.5
55.2
79.3
87.4
68.0
64.2
77.0
54.7
27.6
70.3
82.0
70.9
19.2
81.1
73.3
81.4
82.0
59.3
82.0
89.2
65.0
66.9
76.5
53 .5
30.5
77.6
84.9
73.8
15.4
84.6
75.3
84.6
79.1
63.1
82.0
90.7
65.0
70.9
76.7
49.7
26.7
77.6
84.9
73.0
12.2
82.8
77.3
82.0
78.2
56.4
70.9
80.1
86.7
55.6
73.1
73.8
34.7
42.1
83.9
82.9
61.0
14.6
83.1
85.6
81.7
70.2
77.8
82.9
78.3
50.9
75.6
75.0
24.5
53.9
75.2
64.0
47.1
46.0
72.9
79.6
74.9
55.3
81.3
87.8
74.5
64.4
78.2
61.4
25.7
58.0
77.1
68.5
30.6
71.8
66.6
76.6
77.1
56.3
81.1
89.1
66.0
67.3
76.7
52.6
28.3
75.2
83.9
72.6
15.6
82.8
75.3
82.7
79.8
59.6
77.8
85.0
76.4
59.6
75.9
65.7
28.3
57.3
80.0
72.0
38.6
53.8
74.5
81.1
78.4
60.3
D I F F U S I O N I N D E X OF VALUE OF MANUFACTURERS' NEW ORDERS, DURABLE GOODS INDUSTRIES--35 INDUSTRIES 2
(PERCENT R I S I N G OVER 1-MONTH S P A N S )
AVERAGE FOR PERIOD
66.7
73.8
40.5
66.7
42.9
77.1
31.4
38.6
54.3
71.4
28.6
37.1
54.3
61.4
52.4
57.1
31.0
57.1
28.6
65.7
67.1
28.6
60.0
24.3
65.7
44.3
57.1
60.0
71.4
38.1
57.1
52.4
45.2
38.6
31.4
72.9
57.1
38.6
38.6
74.3
42.9
62.9
38.6
52.9
31.0
76.2
47.6
61.9
68.6
51.4
35.7
67.1
20.0
45.7
28.6
55.7
62.9
52.9
64.3
38.1
81.0
52.4
19.0
27.1
44.3
57.1
51.4
60.0
51.4
45.7
34.3
60.0
48.6
58.6
57.1
52.4
28.6
61.9
14.3
65.7
87.1
50.0
50.0
65.7
68.6
45.7
71.4
45.7
54.3
28.6
95.2
47.6
66.7
77.1
77.1
45.7
25.7
41.4
52.9
52.9
38.6
45.7
52.9
70.0
66.7
83.3
38.1
28.6
20.0
58.6
65.7
68.6
57.1
67.1
28.6
52.9
70.0
51.4
48.6
85.7
31.0
23.8
66.7
47.1
57.1
40.0
40 .0
52.9
58.6
88.6
42.9
57.1
62.9
60.0
19.0
33.3
81.0
64.3
32.9
58.6
68.6
75.7
35.7
47.1
37.1
42.9
55.7
48.6
62.9
83.3
57.1
38.1
38.1
45.7
48.6
58.6
80.0
44.3
82.9
31.4
38.6
51.4
62.9
42.9
52.4
85.7
33.3
57.1
60.0
71.4
45.7
38.6
14.3
38.6
67.1
54.3
38.6
42.9
57.1
60.3
52.4
47.6
44.6
46.7
72.4
39.0
45.7
39.1
70.5
38.6
52.4
51.0
61.9
42.1
69.9
42.9
47.6
36.7
53.8
60.0
56.2
43.3
54.3
47.6
45.2
64.8
49.1
59.1
60.3
69.8
36.5
54.0
48.1
64.3
50.5
44.8
50.5
59.5
56.7
44.8
57.6
55.7
59.5
51.6
58.7
50.8
53.2
46.2
59.5
57.6
64.8
31.4
56.2
45.2
45.3
48.6
51.5
54.3
64.7
45.6
50.6
43.9
56.1
60.1
51.2
42.7
52.3
55.0
43.5
55.8
51.8
58.7
77.1
54.3
47.1
48.6
51.4
51.4
51.4
57.1
57.1
55.7
57.1
42.9
60.0
54.3
37.1
62.9
31.4
37.1
71.4
42.9
40.0
67.1
54.3
57.1
67.1
60.0
68.6
48.6
74.3
45.7
60.0
45.7
65.7
64.3
71.4
41.4
54.3
58.6
37.1
48.6
60.0
68.6
62.9
37.1
68.6
71.4
45.7
62.9
61.4
55.7
42.9
48.6
48.6
54.3
51.4
51.4
48.6
31.4
65.7
74.3
54.3
40.0
74.3
25.7
54.3
41.4
45.7
61.4
48.6
40.0
62.9
60.0
57.1
68.6
75.7
51.4
57.1
60.0
42.9
62.9
57.1
67.1
62.9
71.4
54 .3
48.6
54.3
57.1
60.0
45.7
42 .9
48.6
51.4
60.0
57.1
51.4
71.4
62.9
47.1
40.0
58.6
48.6
48.6
48.6
48.6
54.3
57.1
80.0
62.9
48.6
48.6
42.9
40.0
45.7
60.0
71.4
54 .3
42.9
34.3
54 .3
80.0
45.7
48.6
57.1
48.6
67.1
80.0
57.1
65.7
64.3
51.4
37.1
74.3
68.6
74.3
44.3
68.6
51.4
42.9
48.6
52.9
65.7
65.7
60.0
51.4
61.4
42.9
47.1
61.4
48.6
2 .9
42.9
41.4
68.6
34.3
62.9
55.7
58.6
77.1
51.4
54.3
77.1
45.7
62.9
40.0
41.4
58.6
60.0
67.1
62.9
34.3
54.3
62.9
60.0
45.7
45.7
60.0
71.4
48.6
60.0
41.4
52.9
61.4
62.9
65.7
37.1
28.6
42.9
64.3
65.7
62.9
54.3
58.1
51.9
63.3
44.3
48.6
59.0
47.6
54.3
61.4
61.4
62.9
42.9
67.6
57.1
47.6
57.2
57.6
54.7
50.5
60.5
50.5
47.6
56.2
56.2
55.2
48.6
61.4
58.1
54.3
53.3
58.1
46.7
59.0
57.6
52.8
49.5
62.4
53.4
52.4
49.1
65.7
50.5
49.5
61.9
54.8
60.5
64.8
53 .3
55.2
70.0
45.7
56.7
47.6
47.6
41.0
55.3
58.1
56.2
32.4
53.4
61.0
61.4
61.9
50.5
57.5
58.6
53.1
52.7
52.3
51.9
49.3
53.7
60.1
54 .2
51.6
54.1
59.4
58.1
58.1
51.9
D I F F U S I O N I N D E X OF VALUE OF MANUFACTURERS' NEW ORDERS, DURABLE GOODS INDUSTRIES--3 5 INDUSTRIES 2
(PERCENT R I S I N G OVER 9-MONTH S P A N S )
AVERAGE FOR PERIOD
90.5
57.1
33.3
66.7
34.3
94.3
64.3
37.1
31.4
88.6
42.9
47.1
65.7
80.0
95.2
57.1
66.7
47.6
44.3
85.7
68.6
45.7
51.4
94.3
34.3
65.7
61.4
68.6
100.0
47.6
42.9
52.4
55.7
88.6
34.3
25.7
61.4
78.6
34.3
58.6
57.1
71.4
100.0
50.0
26.2
28.6
65.7
94.3
40.0
17.1
74.3
65.7
51.4
82.9
60.0
68.6
100.0
9.5
50.0
42 .9
65.7
88.6
21.4
18.6
80.0
88.6
37.1
68.6
68.6
68.6
52.4
100.0
9.5
57.1
5.7
91.4
80.0
51.4
14.3
74.3
72.9
37.1
88.6
62.9
62.9
66.7
95.2
23.8
38.1
7.1
65.7
74.3
68.6
20 .0
84.3
48.6
31.4
80.0
62.9
45.7
57.1
95.2
9.5
52.4
8.6
94.3
71.4
64.3
17.1
68 .6
51.4
45.7
74.3
61.4
62.9
95.2
100.0
4.8
52.4
7.1
88.6
87.1
38.6
25.7
82.9
44.3
31.4
71.4
68.6
77.1
85.7
90.5
9.5
85.7
11.4
94.3
68.6
54.3
28.6
85.7
45.7
32.9
77.1
65.7
62.9
95.2
95.2
28.6
47.6
27.1
91.4
68.6
41.4
28.6
82.9
25.7
42.9
71.4
78.6
77.1
90.5
85.7
38.1
66.7
22.9
88.6
71.4
51.4
25.7
94.3
34.3
64.3
88.6
77.1
80.0
95.2
53.9
47.6
55.6
44.8
89.5
55.7
36.2
48.1
87.2
37.2
57.1
61.4
73.3
100.0
23.0
44.4
25.7
74.3
87.6
37.6
16.7
76.2
75.7
41.9
80.0
63.8
66.7
73.0
96.8
12.7
47.6
7.6
82.9
77.6
57.2
20.9
78.6
48.1
36.2
75.2
64.3
61.9
90.5
90.5
25.4
66.7
20.5
91.4
69.5
49.0
27.6
87.6
35.2
46.7
79.0
73.8
73.3
95.6
28.8
51.6
27.3
73.3
81.1
49.9
25.4
72.6
61.6
40.5
72.9
65.8
68.8
91.4
81.4
92.9
42.9
50.0
68.6
40.0
68.6
91.4
88.6
85.7
22.9
91.4
85.7
85.7
82.9
90.0
88.6
91.4
44.3
68.6
74.3
22.9
62.9
91.4
85.7
80.0
25.7
88.6
85.7
91.4
80.0
74.3
82.9
85.7
42.9
70.0
60.0
32.9
74.3
91.4
82.9
71.4
44.3
97.1
77.1
80.0
61.4
82.9
80.0
84.3
62.9
57.1
62.9
25.7
68.6
85.7
85.7
68.6
54.3
82.9
77.1
85.7
65.7
85.7
80.0
67.1
51.4
55.7
80.0
37.1
57.1
80.0
85.7
72.9
54.3
94.3
80.0
80.0
62.9
74.3
82.9
57.1
62.9
72.9
65.7
31.4
61.4
82.9
82.9
54.3
60.0
84.3
81.4
94.3
60.0
71.4
91.4
50.0
65.7
65.7
55.7
45.7
68.6
80.0
72.9
42.9
80.0
85.7
91.4
88.6
54.3
81.4
80.0
34.3
74.3
71.4
54.3
58.6
72.9
85.7
60.0
40.0
74.3
71.4
91.4
80.0
45.7
80.0
85.7
42.9
77.1
77.1
34.3
62.9
78.6
81.4
71.4
34.3
74.3
82.9
77.1
88.6
75.7
72.9
91.4
40.0
71.4
84.3
37.1
55.7
77.1
88.6
80.0
17.1
80.0
77.1
88.6
91.4
62.9
77.1
97.1
35.7
75.7
82.9
34.3
57.1
82.9
91.4
77.1
17.1
94.3
82.9
91.4
97.1
62.9
80.0
97.1
40.0
71.4
91.4
25.7
58.6
94.3
91.4
68.6
28.6
85.7
77.1
91.4
91.4
42.9
85.2
84.3
90.0
43.4
62.9
67.6
31.9
68.6
91.4
85.7
79.0
31.0
92.4
82.8
85.7
74.8
81.0
81.0
69.5
59.1
61.9
69.5
31.4
62.4
82.9
84.8
65.3
56.2
87.2
79.5
86.7
62.9
77.6
85.7
42.4
72.4
71.4
48.1
55.7
73.4
82.4
68.1
39.1
76.2
80.0
86.6
85.7
58.6
76.7
95.2
38.6
72.8
86.2
32.4
57.1
84.8
90.5
75.2
20.9
86.7
79.0
90.5
93.3
56.2
80.1
86.5
60.1
61.9
70.6
54.4
44.0
72.3
86.8
78.5
51.1
62.5
84.6
84.9
87.8
63.1
This series contains revisions beginning with 1975. 2 This series contains revisions beginning with 1977.
(SEPTEMBER 1980)
105
G. Experimental Data and Analyses
(Dec.) (Nov.)
P
T
Year
and
quarter
Unit labor cost,
all persons, nonfarm
business sector 1
Implicit price
deflator, gross
nonfarm business
product 1
(Index: 1967=100)
II
(Nov.)
P
(Mar.)
T
1 1 1 1 1 1 jI IN 111 1 1 1 I M:p:i ;nr IN ITT TIT TTT TTT
Ratio scale
240
Components of BCD series 26-
220
(Index: 1967-100)
200
1978
180.2
184.7
187.8
191.4
IQ . . . .
II Q . . .
Ill Q . .
IV Q . . .
190.2
192.8
195.6
199.3
Implicit price deflator, gross nonfarm
business product, Q
(index: 1967-100)
180
160
140
240
220
1979
I Q....
II Q . . .
195.1
200.3
204.7
208.4
Ill Q . .
IV Q . . .
206.0
212.1
217.3
221.8
1980
I Q....
II Q . . .
213.7
220.5
200
Unit labor cost, all persons, nonfarm
business sector, Q
(index: 1967-100)
180
160
228.2
235.8
140
Ill Q . .
IV Q . . .
120
Inventory-sales ratios in 1972 dollars 2
Year
and
month
Manufacturing
(Ratio)
Merchant
wholesalers
(Ratio)
—J 100
Inventory-sales ratios in 1972 dollars (ratio)—
Arithmetic
scale
Retail trade
(Ratio)
2.1
1979
Jan.
Feb.
Mar.
Apr.
May.
June
1.76
1.78
1.72
1.86
1.78
1.84
1.33
1.35
1.30
1.33
1.30
1.31
1.39
1.38
1.38
1.41
1.42
1.45
July
Aug.
Sept
Oct.
Nov.
Dec.
1.84
1.86
1.87
1.87
1.91
1.90
1.31
1.31
1.31
1.30
1.29
1.46
1.42
1.37
1.41
1.40
1.37
.30
Manufacturing-
Merchant wholesalers
1980
Jan.
Feb.
Mar.
Apr.
May.
June
1.87
1.88
1.92
2.06
2.09
r2.10
July
Aug.
Sept
Oct.
Nov.
Dec.
p2.08
(NA)
1.29
1.27
1.37
rl.31
rl.38
rl.37
pi. 32
(NA)
1.34
1.35
1.38
1.42
1.43
rl.40
r
Retail trade
pi. 38
(NA)
1.4
1.3
1.2
1.1
1.5
1.4
1.3
ill I I I Ml Mt Ml III ill Him I I N I II M i l l III IN
1967 1968 1969 1970 1971 1972 1973 1974 1975 1976 1977 1978 1979 1980
NOTE: The "r" indicates revised; "p", preliminary; and "NA", not available.
Source: U . S . Department of Labor, Bureau of Labor Statistics.
2
Source: U . S . Department of Commerce, Bureau of Economic Analysis.
http://fraser.stlouisfed.org/
106
Federal Reserve Bank of St. Louis
1.7
G. Experimental Data and Analyses—Continued
Net Contributions of Individual Components to the Leading, Roughly Coincident, and Lagging Composite Indexes
Basic data
Series title
(and unit of measure)
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 dollars)
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 dollars)
29. New building permits, private housing
units (index: 1967=100)
36. Change in inventories on hand and on order in
1972 do!., smoothed 2 (ann. rate, bil. do! . ) .
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
(billion dollars)
910. Composite index of 12 leading indicators 3
(index: 1967=100)
ROUGHLY COINCIDENT INDICATORS
41. Employees on nonagricultural payrolls
(thousands)
51. Personal income less transfers in 1972
dollars (annual rate, billion dollars). . . .
47. Industrial production, total
(index- 1967=100)
57. Manufacturing and trade sales in 1972
dollars (million dollars)
920. Composite index of 4 roughly coincident
indicators 3 (index: 1967=100)
LAGGING INDICATORS
91. Average duration of unemployment1
(weeks)
70. Manufacturing and trade inventories, total,
in 1972 dollars (billion dollars)
62. Labor cost per unit of output, manufacturing
(index- 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)
May
1980
July
June
1980
39.3
Net contribution to index
Aug.
1980
1980
39.1
39.1
p39.6
3.5
2.9
1.7
29.03
29.07
r31.66
p31.37
32
28
32
34
p2.0
May
to
June
1980
June
to
July
1980
-0.17
0.
July
to
Aug.
1980
0.51
0.60
1.20
-0.36
0.01
0.45
-0.06
-0.14
0.14
0.08
0.06
NA
rl!7.8
114.8
el!5.3
NA
-0.37
11.53
12.62
r!3.72
p!3.54
0.21
0.19
-0.04
66.6
87.1
109.9
0.79
0.40
0.34
99.8
r-6.94
r-12.15
p-14.23
r-0.11
r-0.46
rO.27
107.69
114.55
119.83
rO.64
0.66
0.61
NA
-0.33
-0.13
NA
-0.15
0.31
0.43
123.50
0.38
0.28
0.22
eO.76
-0.16
0.10
0.46
1.12
r799.9
r804.1
r816.2
p819 .8
0.20
0.58
0.20
r!22.8
r!24.0
r!28.6
p!31.0
0.98
3.71
1.87
90,468
r90,047
r89,865
p90,066
-0.37
-0.16
rl,005.5
rl, 0 0 5 . 1
rl,002.6
pi, 0 0 2 . 1
-0.02
-0.12
r!44.0
r!41.4
r!39.8
p!40.5
-0.50
-0.31
0.18
rl47,103
r!47,805
p!51,447
NA
0.10
0.53
NA
r!37.4
r!36.1
r!35.8
p!36.1
-0.95
-0.22
0.22
-0.67
0.05
-0.77
-0.06
0.18
0.48
0.44
0.44
-7.66
-2.24
-1.05
0.15
0.53
10.5
11.7
11.6
12.6
r257.83
r257.50
p258.48
NA
r!94.6
r!97.6
r200.4
p202.3
16.57
12.63
11.48
11.12
0.02
159,033
159,211
160,318
162,898
14.57
r!4.32
p!4.08
NA
-0.86
-0.83
r!83.8
r!68.1
r!64.1
p!62.4
-8.54
-2.38
0.23
-0.03
NA
NA
-1.04
NOTE: The net contribution of an individual component is that component's share in the composite movement of the group. It
is computed by dividing the standardized and weighted change for the component by the sum of the weights for the available components and dividing that result by the index standardization factor. See the March 1979 BUSINESS CONDITIONS DIGEST (pp. 106107) for weights and standardization factors. NA, not available, p, preliminary, r, revised, e, estimated.
series is inverted in computing the composite index; i.e., a decrease in this series is considered an upward movement.
series is a weighted 4-term moving average (with weights 1,2,2,1) placed at the terminal month of the span.
Figures in the net contribution columns are percent changes in the index. The percent change is equal (except for rounding
differences) to the sum of the individual components' contributions plus the trend adjustment factor. The trend adjustment
factor for the leading index is 0.099; for the coincident index, -0.164; for the lagging index, -0.170.
2
This
3
G. Experimental Data and Analyses—Continued
Recession Comparisons: Current and Selected Historical Patterns
I I I I I I I I I I I 11 I I I I I I I I I I I I I I 11 11 I I I I I I I II I I I I I I I
913. Composite index of marginal
employment adjustments
Devi-
Actual
ations
data
from
for
reference
current
peaks
cycle
MONTHS DEVIFROM ATIONS CURRENT MONTH
REF.
FROM ACTUAL
AND
PEAK
1/80
DATA YEAR
SERIES 913
1967=100
B
UL]
-3
-2
-1
Percent
0
+5
• 100
915. Composite index of inventory
investment and purchasing
Actual
data
from
for
reference
current
peaks
cycle
D
0.
96.6
96.1
96.3
10/79
11/79
12/79
0. P
96.3
1/80
0.
0.3
-0.2
Deviations
1
2
3
4
-1.9
-6.2
-8.3
96.3
94.5
90.3
88.3
2/80
3/80
4/80
5/80
5
6
7
-7.0
-4.4
-3.3
89.6
92.1
93.1
6/80
7/80
8/80
Percent
+10
• 110
• 95
-5
MONTHS DEVIFROM ATIONS CURRENT MONTH
REF.
AND
FROM ACTUAL
PEAK
1/80
DATA YEAR
-3
-2
-1
0 .6
-0.4
-0.4
• 85
-0.4
-1.1
-2.7
-4.4
-15
5
6
7
-5.4
-4.1
-3.3
-3
-2
-1
+ 10
• 120
+5
• 115
mo
0
-10
+12 +18
1/80
102,
101,
99,
98.2
2/80
3/80
4/80
5/80
97.2
98.5
99.3
6/80
7/80
8/80
112.7
112.0
112.7
10/79
11/79
12/79
0. P
111.9
1/80
-1.4
-3.5
-6.6
-7.7
110.3
108.0
104 .5
103.3
2/80
3/80
4/80
5/80
5
6
7
-6.3
-4.8
-4.0
104.8
106.5
107.4
6/80
7/80
8/80
• 90
-15
917. Composite index of money and
financial flows
+ 15
• 155
+ 10
1140
• 135
SERIES 917
1967=100
5.0
2.5
0.9
• 100
143.9
140.4
138.2
• 150
+5
DEVIFROM ATIONS CURRENT MONTH
I
REF.
FROM ACTUAL
AND
| PEAK
1/80
DATA YEAR
10/79
11/79
12/79
137.0
1/80
0.8
-1.3
-4.7
-8.3
138.1
135.2
130.5
125.6
2/80
3/80
4/80
5/80
5
-8.2
6
7
-6.3
-4.7
125.7
128.4
130.6
6/80
7/80
8/80
+24 +30 +36
For an explanation of these charts, see "How to Read Charts" on p. 107 of the July 1980 issue.
http://fraser.stlouisfed.org/
108
Federal Reserve Bank of St. Louis
-10
TMONTHS
Months from reference peaks
NOTE:
• 95
Percent
0.7
0.1
0.7
0. P
-1-6
102.7
1
2
3
4
• 105
0
10/79
11/79
12/79
SERIES 914
1967=100
Percent.
-6
• 100
103.3
102.3
102.3
MONTHS DEVIFROM ATIONS CURRENT MONTH
AND
REF.
FROM ACTUAL
DATA YEAR
PEAK
1/80
914. Composite index of capital
investment commitments
H05
SERIES 915
1967=100
• 90
-10
+5
-5
•130
• 125
-10
0
+6
+12 +18
+24 +30 +36
Months from reference peaks
G. Experimental Data and Analyses—Continued
Recession Comparisons: Current and Selected Historical Patterns—Continued
1. Average workweek, production
workers, manufacturing
Deviations
from
reference
peaks
Actual
data
for
current
cycle
MONTHS DEVIFROM ATIONS CURRENT MONTH
REF.
FROM ACTUAL
AND
PEAK
DATA YEAR
1/80
SERIES
1
HOURS
Percent
-I +2
»41.0
-3
-2
-1
0
+1
• 40.5
• 40.0
-1
-0.5
-0.5
-0.2
0. P
40.1
40.1
40.2
New orders for consumer goods and
materials, 1972 dollars, smoothed'
Li
D
039.5
40.3
1/80
1
2
3
4
-0.5
-1.2
-1.2
-2.5
40.1
39.8
39.8
39.3
2/80
3/80
4/80
5/80
5
6
1
-3.0
-3.0
-1.7
39.1
39.1
39.6
6/80
7/80
8/80
Percent
+ 20
+15
• 40
+10
MONTHS DEVIFROM ATIONS CURRENT MONTH
AND
FROM ACTUAL
REF.
DATA YEAR
PEAK
1/80
-4
-3
-2
-1
0
-3
• 39.0
-4
Actual
data
for
current
cycle
10/79
11/79
12/79
+5
0
SERIES
81
BIL. DOL
-2
Deviations
from
reference
peaks
0.6
-0.4
-2.0
-1.6
0. P
35.66
35.29
34.71
34.88
9/79
10/79
11/79
12/79
35.43
1/80
1
2
3
4
-0.6
-6.0
-12.6
-16.8
35.21
33.29
30.97
29.48
2/80
3/80
4/80
5/80
5
6
-15.6
-13.4
29.92
30.70
6/80
7/80
>38.5
• 35
-5
-10
-15
• 30
-20
-25
20. Contracts and orders for plant and
equipment, 1972 dollars, smoothed 1
'Eul
MONTHS DEVIFROM ATIONS CURRENT MONTH
REF.
FROM ACTUAL
AND
PEAK
1/80
DATA YEAR
3. Layoff rate, manufacturing (inverted)
mi
-3
-2
-1
• Actual
-1.0
• 0.5
-0-5
• 1.0
0-0
H.5
+ 0-5
• 2.0
0. P
1.3
1/80
1
2
3
4
0.
0.2
1.6
2.2
1.3
1.5
2.9
3.5
2/80
3/80
4/80
5/80
5
6
7
1.6
0.4
0.7
2.9
1.7
2.0
6/80
7/80
8/80
• 3.0
• 3.5
+ 6 +12 +18 +24 +30 +36
+ 10
+5
0
-5
-4
-3
-2
-1
-15
• 12
-20
9/79
10/79
11/79
12/79
-25
0.1
13.79
13.81
14.29
14.63
0. P
14.61
1/80
-30
-5.6
-5.5
-2.2
• 14
-10
MONTHS DEVIFROM ATIONS CURRENT MONTH
REF.
FROM ACTUAL
AND
PEAK
DATA YEAR
1/80
0
+2.0
0
+15
SERIES 201
BIL. DOL
+1-5
-6
+20
SERIES
3
PER 100
EMPLOYEES
1.2 10/79
-0.1
0.
1.3 11/79
-0.1
1.2 12/79
0
4-1.0
+ 2.5
• 18
• 10
1
2
3
4
-1.0
-5.0
-11.0
-12.4
14.47
13.88
13.01
12.80
2/80
3/80
4/80
5/80
5
6
-13.0
-12.0
12.71
12.85
6/80
7/80
Months from reference peaks
-35
-6
0
+6
+12 +18 +24 +30 +36
Months from reference peaks
NOTE: For an explanation of these charts, see "How to Read Charts" on p. 107 of the July 1980 issue,
^his series is an MCD moving average placed on the center month of the span.
2
Numeral indicates latest month used in computing the series.
109
ALPHABETICAL INDEX-SERIES FINDING GUIDE
Series titles
(See complete titles in "Titles and Sources of
Series," following this index)
Current issue
(page numbers)
Series
number
Charts
Tables
Series
Historical
descriptions
data
(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
8/80
8/80
8/68
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
2/79
2/79
8/80
2/79
2/79
2/79
2/79
2/79
2/79
2/79
2/79
11/68
11/68*
11/68*
11/68*
11/68*
11/68*
11/68*
11/68*
11/68*
11/68*
11/68*
55
616
22
56
65
92
9/79
8/80
10/69*
B
Balance of payments-See International transactions.
Bank loans to businesses, loans outstanding
Bank loans to businesses, net change
Bank rates-See Interest rates.
Bank reserves
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, D 1 . . . .
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
9/80
9/80
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
8/80
1/80
2/79
2/79
2/79
3/80
3/80
295
46
82
11/79
83
82
84
20
20
20
64
64
64
9/79
9/79
9/79
97
11
965
24
24
37
66
66
75
8/79
8/79
2/79
914
35
34
11
29
29
60
70
70
9/80
9/79
9/79
4/69
ii/68
11/68*
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
1/72'
1/72
442
90
441
37
51
18
51
18,51
89
62
89
62,89
3/80
2/80
3/80
2/80
4/72*
920
920c
951
940
9
72
112
10
39
36
11
23
15,35
32
60
7/80
7/80
6/79
9/80
8/79
6/79
6/79
11/75*
74*"
60
66
73
72
345
49
87
345c
280
50
45
87
82
ii/79
10/72*
10/69
9/79
10/69*
4/72*
4/72*
ii/72
11/72
10/72*
64
30,47
70,83
346
49
88
346c
50
88
340
49
87
2/80
6/72*
340c
50
87
2/80
6/72*
341
49
87
2/80
6/72*
341c
348
349
50
50
50
87
88
88
2/80
11/79
11/79
6/72*
6/72*
6/72*
53
19
63
4/80
10/72*
10/72*
Series titles
(See complete titles in "Titles and Sources of
Series," following this index)
Composite indexes
Coincident indicators
Four coinciders
Four coincideis, 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, rale of change
Construction
Building permits, new private housing
Contracts awarded, commercial and industrial bldgs. . .
Expenditures, plus machinery and equipment sales . . . .
Gross private domestic fixed investment
Nonresidential,as percent of GNP
IMonresidential structures, constant dollars
Nonresidential, total, constant dollars
Residential as percent of GNP
Residential, total, constant dollars
Housing starts
Consumer finished goods-See Wholesale prices.
Consumer goods and materials, new orders
Consumer goods, industrial production
Consumer installment debt
Debt outstanding
Net change
Ratio to personal income . ,
Consumer installment loans, delinquency rate
Consumer pncos-Seealso International comparisons.
All items index
Ail items, percent changes
Food, index
„
Food percent changes
Consumer sentiment, index
Consumption expenditures-See Personal consumption
expenditures.
Contracts and orders, plant and equipment, constant dol. .
Contracts and orders, plant and equipment, current dol. . .
Corporate 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
110
Tables
920
920c
940
10
39
11
60
930
930c
10
39
914
915
913
917
916
910
910c
Historical
Series
data
descriptions
(issue date) (issue date)
7/80
7/80
9/80
11/75*
60
7/80
7/80
11/75*
11
11
11
11
11
10
39
60
60
60
60
60
60
9/80
9/80
9/80
9/80
9/80
7/80
7/80
29
9
69
13,25
23
24
67
66
67
8/80
8/79
8/80
4/69
248
87
86
249
89
28
47
25
25
47
25
25
83
67
67
83
67
67
11/79
9/79
9/79
11/79
9/79
3/80
10/69*
8
75
12,21
22
64
65
7/80
12/79
66
113
95
39
35
32
15,35
33
73
72
73
72
5/79
6/79
8/79
2/79
10/72
10/72
320
320c
322
322c
58
49
49,59
49
49
22
84,95
84,95
84
84
65
5/80
5/80
5/80
5/80
8/80
5/69*
5/69*
5/69*
5/69*
11/68*
20
10
116
12,23
23
34
66
66
73
7/80
7/80
1/79
9/68'
7/64
112
110
72
32
32
15,35
72
72
73
6/79
11/79
6/79
11/72
7/64
11/72
66
113
95
39
33
35
32
15,35
33
32
73
72
73
72
71
5/79
6/79
8/79
2/79
4/80
10/72
10/72
525
564
548
517
53
55
53
53
90
91
90
90
5/80
10/79
8/80
5/80
39
32
33
12,21
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
9/80
5/80
11/68*
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
60'"
5/75*
9/68*
io/69*
6/72"
11/72
11/72
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 prices, 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 manufacturing
Profits, net, manufacturing and trade
Sales, net, manufacturing and trade
Workweek mfg production workers
Workweek, mfg. production workers, components
Disposable personal income-See Income.
NOTE: The following abbreviations are used in this index: Cl, composite index; Dl, diffusion index; GPDI, gross private domestic investment; and NIPA, national income and product accounts.
*The identification number for this series has been changed since the publication date shown.
Current issue
(page numbers)
Series
number
io/69*
l'i/68*
4/69*
9/79'
6/78"
2/79 '
6/79f
6/79
9/80
6/69*
11/68*
2/79'
9/79
2/79
2/79
2/79
10/79
2/79
2/79
9/80
11/68*
5/69*
11/68*
11/68*
11/68*
ii/68*
11/68*
ALPHABETICAL INDEX-SERIES FINDING GUIDE-Continued
Series titles
(See complete titles in "Titles and Sources of
Series," following this index)
Curren t issue
(pagem mbers)
Series
Charts
Tables
Series
Historical
data
escriptions
issue date) issue date)
E
Earnings-See Compensation.
Employment and unemployment
Accession rate, manufacturing
Civilian labor force, total
Employee hours in nonagricultural
establishments
Employee hours in nonagricultural
establishments rate of change
Employees in mining, mfg., and construction
Employees manufacturing and trade Dl
Employees on nonagricuitural payrolls
Employees on private nonag. payrolls, Dl
Employment, ratio to population
Employment total civilian
Help-wanted advertising in newspapers
Help-wanted advertising, ratio to unemployment
Initial claims, State unemployment insurance
Initial claims, State unemployment insurance, Dl
Layoff rate manufacturing
Marginal employment adjustments, Cl
Overtime hours, mfg. production workers
Participation rate, both sexes, 16-19 years old
Participation rate females 20 years and over
Participation rate, males 20 years and over
Part-time workers for economic reasons
Persons engaged in nonagricultural activities
Quit rate manufacturing
Unemployed, both sexes, 16-19 years old
Unemployed females 20 years and over
Unemployed, full-time workers
Unemployed, males 20 years and over
Unemployment, average duration
Unemployment rate, 1 5 weeks and over
Unemployment rate, insured, average weekly
Unemployment rate, total
Unemployment, total civilian
Workweek, mfg. production workers
Workweek, mfg. production workers, Di
Equipment-See Investment, capital.
Exports-See Foreign trade and International transactions.
2
441
16
51
61
89
8/80
3/80
8/68
A/7?*
48
17
61
9/80
o/cp*
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
9/80
9/80
2/79
9/80
9/80
2/80
3/80
7/79
2/80
7/80
6/78
8/80
9/80
8/80
3/80
3/80
3/80
3/80
2/80
8/80
3/80
3/80
3/80
3/80
3/80
2/80
8/80
2/80
2/80
8/80
8/68*
961
36
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
62,89
61
77
74
9/80
119
34
72
1/79
94
213
917
33
40
72
80
60
9/80
10/79
9/80
311
311c
48
48
84
84
11/79
11/79
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
7/80
7/80
7/80
8/80
8/80
11/79
11/79
7/80
8/80
7/80
8/80
8/80
11/79
11/79
7/80
8/80
11/79
11/79
11/79
93
33
72
9/80
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
9/79
9/79
10/79
10/79
10/79
11/79
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
11/79
11/79
11/79
10/79
11/79
11/79
11/79
11/79
11/79
G
Goods output in constant dollars
Government budget, NIPA
Federal expenditures
Federal receipts
Federal surplus or deficit
State and local expenditures
State and local receipts
State and local surplus or deficit
Surplus or deficit, total
Government purchases of goods and services
Federal, constant dollars
Federal current dollars
Federal, percent of GNP
National defense
State and local, constant dollars
State and local, current dollars
State and local, percent of GNP
Total, constant dollars
Total current dollars
Curren t issue
(pagen mbers)
Series
Charts
Tables
Series
Historical
descriptions
data
(issue date) issue date)
Gross business product
F
Federal funds rate
Federal Government-See Government.
Federal Reserve, member bank borrowing from
Final sales in constant dollars
Financial flows and money Cl .
Fixed investment-See Investment, capital.
Fixed weighted price index, NIPA
Fixed weighted price index, percent changes, NIPA
Food-See Consumer prices.
Foreign trade-See also International transactions.
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, constant dol., NIPA . . . .
Exports of goods and services, current dol., NIPA
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, constant dol., NIPA . . . .
Imports of goods and services current dol NIPA
Imports of goods and services, total
Imports of petroleum and products
Net exports, goods and services, constant dol., NIPA
Net exports goods and services current dol NIPA
Net exports, goods and services, percent of GNP, NIPA
France-See International comparisons.
Free reserves
Series titles
(See complete titles in "Titles and Sources of
Series," following this index)
11/68*
8/68
4/72*
12/74
6/69"
6/69*
8/68*
12/74
4/72
Fixed weighted price index, percent changes
Gross domestic product, labor cost per unit
Gross national product
GNP constant dollars
GNP, constant dollars, differences
GNP constant dollars percent changes
GNP current dollars
GNP, current dollars, percent changes
GNP ratio to monpy supply
Goods output in constant dollars
Implicit price deflator
Implicit price deflator, percent changes
Per capita GNP constant dollars
Gross private domestic invest. -See Investment, capital.
311
311c
68
48
48
30
84
84
70
11/79
11/79
9/79
50
50b
50c
200
200b
200c
107
49
310
3!0c
217
19,40
10/79
10/79
10/79
10/79
10/79
10/79
7/80
9/79
11/79
11/79
10/79
10/69*
10/69*
10/69*
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
2/80
12/74
21
1
16
12 16
8/80
8/80
12/74
8/68
961
36
61
61
77
74
28
29
89
249
25
13,25
25
47
67
67
67
83
3/80
8/80
9/79
11/79
6/72
4/69
310
310c
48
48
84
84
11/79
11/79
10/69*
10/69*
345
49
87
345c
280
64
50
45
30,47
87
82
70,83
346
49
88
346c
95
286
287
225
224
227
50
15 35
45
47
40
40
40
88
73
82
83
80
80
80
8/79
11/79
11/79
10/79
10/79
10/79
10/69
10/69*
10/69
10/69
10/69
340
49
87
2/80
6/72*
340c
50
87
2/80
6/72*
6/72*
39
40
7/68'
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 workweek components
Average workweek Di
Housing
Housing starts
Housing units authorized by local bldg. permits
Residential GPDI constant dollars
Residential GPDI, percent of GNP
9/80
10/69*
1
4/72"
6/69
4/72
4/72*
8/68
Implicit price deflator GNP
Implicit price deflator GNP percent changes
Imports-See Foreign trade and International transactions.
Income
nonfarm business sector
Compensation, average hourly, all employees,
nonfarm business sector, percent changes
Compensation of employees, pet. of nat'l. income ....
Compensation, real average hourly, all employees,
11/73
nonfarm business sector
Compensation, real average hourly, all employees,
nonfarm business sector, percent changes
Consumer installment debt, ratio to personal income , .
Corporate profits with IVA and CCA
Corp. profits with IVA and CCA, pet. of nat'l. income .
Disposable personal income, constant dollars
Disposable personal income, current dollars
Disposable personal income, per capita, constant dol. . .
Earnings, average hourly, production workers,
private nonfarm economy
Earnings, average hourly, production workers,
5/69*
private nonfarm economy, percent changes
5/69*
Earnings, real average hourly, production
workers, private nonfarm economy
Earnings, real average hourly, production
5/69'
workers, private nonfarm economy, percent changes .
5/69*
Income on foreign investment in the U.S
Income on U.S. investments abroad
5/69*
Interest net
5/69*
Interest, net, percent of national income
National income
Personal income, constant dollars
5/69"
Personal income current dollars
5/69*
Personal income, less transfers, constant dollars
Personal income, less transfers, constant dols. rate of chg.
Personal income, ratio to money supply
5/69
Proprietors' income with IVA and CCA
10/69*
Proprietors' income with IVA and CCA, percent
of national income
11/72
Rental income of persons with CCA
Rental income of persons with CCA, pet. of nat'l. income
Wage and benefit decisions, first year
Wage and benefit decisions, life of contract
Wages and salaries, mining, mfg., and construction ....
Incorporations, new businesses
7/68*
Industrial materials prices
7/68*
Industrial materials prices components
7/68*
Industrial materials prices Dl
Industrial production - See also International comparisons
Business equipment
Consumer goods
10/69
Durable manufactures
Nondurable manufactures
11/73
Total
10/69
Total components
10/69*
Total, Dl
10/69*
Total rate of change
Installment debt-See Credit.
11/73
10/69
Insured unemployment
Avg. weekly initial claims, unemploy. insurance
10/69*
Avg. weekly initial claims, unemploy. insurance, Dl . . .
Avg weekly insured unemployment rate
10/69
10/72*
11/79
9/79
10/72*
10/69
10/69*
10/72*
10/72*
341
49
87
2/80
341 c
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
2/80
7/80
7/80
11/79
11/79
10/79
2/80
1/80
2/80
7/79
6/8011/79
6/72*
5/69*
5/69*
10/69
10/69*
10/69
283
284
285
348
349
53
13
23
47
45
47
50
50
19
23
28
11/79
11/79
11/79
11/79
11/79
4/80
3/80
5/80
10/69*
10/69
10/69*
6/72*
6/72*
967
37
83
82
83
88
88
63
65
69
79
75
5/80
4/69*
67
65
63
63
63,94
78
75
1/80
12/79
12/79
12/79
9/80
11/68
76
75
73
74
47
24
22
20
20
14,20,58
966
47 c
37
39
5
962
45
16
36
18
71 '"
82
61
74
62
7/68*
10/69
4/69"
9/79
9/80
7/80
6/78
8/80
6/69
6/69*
6/69
NOTE: The following abbreviations are used in this index: Cl, composite index; Dl, diffusion index; GPDI, gross private domestic investment; and NIPA, national income and product accounts.
*The identification number for this series has been changed since the publication date shown.
111
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
mports, merchandise, adjusted, exc. military
mports, merchandise, total
mports of automobiles and parts
mports of goods and services total
mports of petroleum and products
ncome on foreign investments in U.S
ncome 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
nventories 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
Current issue
(page numbers)
Series
number
Charts
Tables
Historical
Series
data
descriptions
(issue date) issue date)
288
289
45
47
82
83
11/79
11/79
10/69
10/69*
67
116
119
118
117
109
114
115
35
34
34
34
34
35
34
34
73
73
72
73
73
73
72
73
8/79
1/79
1/79
3/80
1/79
1/79
1/79
1/79
12/74
7/64
11/73
7/64
7/64
11/73
7/64
7/64
1/79
1/79
7/79
7/79
1/79
1/79
1/79
1/79
1/79
1/79
5/80
5/80
1/79
1/79
9/72*
59'"
96
96
95
95
96
96
95
95
95
95
84,95
84,95
95
95
723
726
727
728
721
722
47
725
58
58
58
58
58
58
14,20,58
58
94
94
94
94
94
94
63,94
94
3/80
2/79
2/79
2/79
2/79
2/79
9/80
2/79
743
746
747
748
742
19
745
59
59
59
59
59
59
59
96
96
96
96
96
96
96
6/79
6/79
6/79
6/79
6/79
6/79
6/79
667
622
618
602
604
668
606
620
612
616
669
614
652
651
57
57
57
56
56
57
56
57
56
56
57
56
57
57
93
93
93
92
92
93
92
93
92
92
93
92
93
93
7/80
7/80
7/80
8/80
8/80
7/80
8/80
7/80
8/80
8/80
7/80
8/80
7/80
7/80
30
245
247
65
36
77
915
70
71
31
975
78
26,42
42
47
27
13,26
27
11
15,27
27
26
38
27
68,81
81
83
68
68
68
60
68
68
68
76
68
9/79
11/79
11/79
8/80
8/80
1/80
9/80
12/79
12/79
9/80
2/79
8/80
38
26
68
8/80
97
11
965
914
9
24
24
37
11
23
66
66
75
60
66
8/79
8/79
2/79
9/80
8/79
69
24
67
8/80
243
242
42
42
81
81
11/79
10/79
86
248
88
89
249
87
241
240
25
47
25
25
47
25
42
42
67
83
67
67
83
67
81
81
9/79
11/79
9/79
9/79
11/79
9/79
10/79
10/79
27
23
66
8/80
24
23
66
8/80
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.
Charts
....
Tables
Series
Historical
descriptions
data
(issue date) issue date)
61
970
20
10
24
38
12,23
23
67
76
66
66
2/79
2/79
7/80
7/80
9/68'
652
651
57
57
93
93
7/80
7/80
5/69*
5/69*
68
62
63
26
30
15,30
30
29
70
70
70
70
9/79
12/79
7/80
7/80
7/68
11/68
10/72
930
930c
952
3
10
39
36
12,16
60
7/80
7/80
6/79
8/80
11/75*
910
910c
950
14
104
10
39
36
33
13,31
60
74"'
72
71
7/80
7/80
6/79
2/79
6/80
913
78
11
27
60
68
9/80
8/80
38
26
68
8/80
8
84
12,21
20
64
64
7/80
9/79
917
11
60
9/80
104
105
85
106
102
107
108
33
118
117
13,31
31
31
13,31
31
31
31
32
34
34
71
71
71
71
71
71
71
71
73
73
6/80
6/80
6/80
6/80
6/80
7/80
6/80
4/80
3/80
1/79
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
9/80
2/79
ii/68*
88
87
86
248
25
25
25
47
67
67
67
83
9/79
9/79
9/79
11/79
i6/69*
517
721
53
58
90
94
5/30
2/79
49
62
358
370
370c
83
82
84
21
20
15,30
50
50
50
20
20
20
16
63
70
88
88
88
64
64
64
61
9/79
12/79
11/68
11/68*
J
Japan-See International comparisons.
733
733c
736
736c
737
737c
738
738c
732
732c
320
320c
735
735c
59'"
59'"
59'"
59""
59
49
49,59
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
9/72*
Labor cost, price per unit of, nonfarm business
9/72*
Labor force-See Employment and unemployment.
Lagging indicators, six
Composite index
9/72*
Composite index, rate of change
Diffusion index
. .
5/69*
Layoff rate, manufacturing
5/69*
Leading indicators, twelve
9/72*
Composite index
Composite index rate of change
....
Diffusion index
.. .
10/72*
10/72* Liabilities of business failures
Liquid
assets
change
in
total
.
.
.
10/72*
10/72* Loans-See Credit.
9/72*
10/72*
11/68
10/72*
5/69*
5/69*
5/69*
5/69*
5/69*
5/69*
5/69*
5/69*
74
61
8/68*
5/75*
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 M1
..
Money supply M1 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
10/72
10/72
7/64'
7/64
IM
National defense-See Defense.
10/69
10/69* National Government-See Government.
National income-See Income.
9/68
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
.
11/68*
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
Obligations incurred, Defense Department
OECD, European countries, industrial production
....
Orders-See New orders and Unfilled orders.
10/69* Output-See also Gross national product and
Industrial production.
Goods output constant dollars
Labor cost per unit of
...
10/69*
Per hour nonfarm business sector
Per hour private business sector
16/69
Per hour, private business sector, percent changes
Ratio to capacity manufacturing (BEA)
Ratio to capacity, manufacturing (FRB)
Ratio to capacity materials
9/68
Overtime hours, production workers, manufacturing
NOTE: The following abbreviations are used in this index: Cl, composite index; Dl, diffusion index; GPDI, gross private domestic investment; and NIPA, national income and product accounts.
*The identification number for this series has been changed since the publication date shown.
http://fraser.stlouisfed.org/
112 Bank of St. Louis
Federal Reserve
Curren issue
(page numbers)
Series
8/80
8/80
7/80
7/80
7/80
8/80
7/80
7/80
9/68
9/68'
9/68*
ii/68
6/68*
10/72*
10/72*
9/79*
9/79
9/79
8/80
12/74
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
number
Charts
Tables
Historical
Series
data
escriptions
(issue date) (issue date)
P
Participation rates, civilian labor force
Both sexes 16-1 9 years of age
453
Females 20 years and over
452
Males 20 years and over
451
Personal consumption expenditures
Automobiles
55
Durable goods, constant dollars
233
Durable goods, current dollars
232
Nondurable goods, constant dollars
238
Nondurable goods, current dollars
236
Services, constant dollars
239
Services, current dollars
237
Total, constant dollars
231
Total, current dollars
230
Total percent of GNP
235
Personal income-See Income.
Personal saving
292
Personal saving rate
.
293
Petroleum and products imports
614
Plant and equipment-See also Investment, capital.
Business expenditures for
61
Business expenditues for Dl
970
Contracts and orders for, constant dollars
20
Contracts and orders for, current dollars
10
Population, civilian employment as percent of
90
Price indexes
Consumer prices-See also International comparisons.
All items index
320
All items, percent changes
320c
Food index
322
Food, percent changes
322c
Deflators NIPA
Fixed weighted, gross business product, index
311
Fixed weighted, gross business product, pet. changes
311c
Implicit price deflator GNP index
310
Implicit price deflator, GNP, percent changes
310c
Industrial materials
23
Industrial materials, components
Industrial materials, Dl
967
Labor cost, price per unit of
26
Sensitive prices change in
92
Stock prices-See also International comparisons.
500 common stocks
19
500 common stocks, D I
968
Wholesale prices
All commodities, index
330
All commodities, percent change
330c
Consumer finished goods, index
334
Consumer finished goods, percent changes
334c
Crude materials index
331
Crude materials, percent changes
331c
Intermediate materials, index
332
Intermediate materials, percent changes
332c
Producer finished goods, index
333
Producer finished goods, percent changes
333c
Price to unit labor cost nonfarm business
26
Prices, selling
Manufacturing, Dl
976
Retail trade, Dl
978
Wholesale trade, Dl
977
Prime contracts, military
525
Prime rate charged by banks
109
Producer finished goods-See Wholesale prices.
Producers' durable equipment, nonresid., GPDI
88
Production-See Industrial production and GNP.
Productivity
Output per hour, nonfarm business" sector
358
Output per hour, private business sector
370
Output per hour, private business sector, pet. changes .
370c
Profitability, Cl
916
Profits
Corporate, after taxes, constant dollars
18
Corporate, after taxes, current dollars
16
Corporate, after taxes, with I VA and CCA,
constant dollar
80
Corporate, after taxes, with I VA and CCA, cur. dol. . . .
79
Corporate with IVAand CCA
286
Corporate, with I VA and CCA, pet. of nat'l. income . . .
287
Manufacturing and trade, Dl
972
Manufacturing Dl
960
Per dollar of sales, manufacturing
15
Profitability, Cl
916
Ratio, profits to corporate domestic income
22
Ratio, profits with IVA and CCA to corporate domestic
income
81
Proprietors' income with IVA and CCA
282
Proprietors' income with IVA and CCA, pet. of nat'l. inc. . 283
89
89
89
3/80
3/80
3/80
22
41
41
41
41
41
41
41
41
47
65
80
80
81
81
81
81
80
80
83
9/79
10/79
10/79
10/79
10/79
10/79
10/79
10/79
10/79
10/79
46
46
56
82
83
92
11/79
11/79
8/80
24
38
12,23
23
18
67
76
66
66
62
2/79
2/79
7/80
7/80
2/80
49
49,59
49
49
84,95
84,95
84
84
5/80
5/80
5/80
5/80
48
48
48
48
28
11/79
11/79
11/79
11/79
5/80
37
29
13,28
84
84
84
84
69
79
75
70
69
5/8o'
7/80
4/80
4/69*
13,28
37
69
75
9/79
9/79
5/69
5/69*
48
48
48
48
48
48
48
48
48
48
29
85
85
86
86
85
85
86
86
86
86
70
6/80
6/80
5/80
5/80
6/80
6/80
6/80
6/80
6/80
6/80
7/80
6/69*
38
38
38
53
35
76
76
76
90
73
2/79
2/79
2/79
5/80
1/79
25
67
9/79
50
50
50
11
88
88
88
60
9/80 '
Unemployment
Duration of unemployment, average
Help-wanted advertising to unemployment, ratio
Initial claims, avg. weekly, unemploy. insurance
Initial claims, avg. weekly, unemploy. insurance, Dl . . .
Layoff rate, manufacturing
Number unemployed, civilian labor force
Both sexes, 16-19 years of age
Females, 20 years and over
Full-time workers
Males, 20 years and over
Total unemployed
11/68*
Quit rate, manufacturing
11/68*
Unemployment rates
11/68*
1 5 weeks and over
Insured, average weekly
11/73
Total
Unfilled orders, manufacturers'
Durable goods industries
Durable goods industries, change in
United
Kingdom-See International comparisons.
6/68*
10/72*
10/72*
V
28
28
69
69
9/79
9/79
1/72
7/68
28
28
45
47
38
37
29
11
29
69
69
82
83
76
75
70
60
69
9/79
9/79
11/79
11/79
2/79
10/79
7/80
9/80
9/79
29
45
47
70
82
83
9/79
11/79
11/79
4
16
61
8/80
284
45
82
11/79
R
Rental income of persons, with CCA
Rental income of persons, with CCA, percent of national
income
Reserves, free
Residential fixed investment, constant dollars, GPDI . . . .
Residential fixed investment, percent of GNP
Residential structures-See Housing.
Retail sales, constant dollars
Retail sales current dollars
51
51
51
Q
Quit rate, manufacturing
Series titles
(See complete titles in "Titles and Sources of
Series," following this index)
285
47
83
11/79
Current issue
(page numbers)
Series
Charts
Tables
Series
Historical
descriptions
data
(issue date) issue date)
93
89
249
33
25
47
72
67
83
9/80
9/79
11/79
59
54
22
22
65
65
6/80
6/80
213
40
80
10/79
69
57
56
973
77
59
54
24
14,22
22
38
27
22
22
67
65
65
76
68
65
65
8/80
1/80
1/80
2/79
1/80
6/80
6/80
295
298
290
292
293
46
46
46
46
46
82
83
82
82
83
11/79
11/79
11/79
11/79
11/79
92
13,28
69
4/80
19
968
78
13,28
37
27
69
75
68
9/79
9/79
8/80
38
26
68
8/80
114
115
34
34
72
73
1/79
1/79
7/64
7/64
91
60
5
962
3
15,18
17
16
36
12,16
62
61
61
74
61
3/80
2/80
7/80
6/78
8/80
6/69
6/69*
8/68*
446
445
447
444
37
4
51
51
51
51
18,51
16
89
89
89
89
62,89
61
3/80
3/80
3/80
3/80
2/80
8/80
44
45
43
18
18
18
62
62
62
2/80
8/80
2/80
4/72
6/69
4/72
96
25
21
21
64
64
8/80
8/80
9/68
9/68
107
108
32
31
31
12,21
71
71
64
7/80
6/8u
8/79
12/74
330
330c
334
334c
331
331c
332
332c
333
333c
92
1
48
48
48
48
48
48
48
48
48
48
13,28
12,16
85
85
86
86
85
85
86
86
86
86
69
61
6/80
6/80
5/80
5/80
6/80
6/80
6/80
6/80
6/80
6/80
4/80
8/80
36
77
74
9/80
11/72
10/69*
6/72
10/69*
s
10/69
10/69
10/69
10/69
10/69
10/69*
Salaries-See Compensation.
Sales
Final sales constant dollars
Machinery and equipment sales and business
Manufacturing and trade sales, constant dollars
Manufacturing and trade sales, current dollars
Manufacturing and trade sales, Dl
10/69
Ratio, inventories to sales, mfg. and trade
7/68*
Retail sales, constant dollars
Retail sales, current dollars
11/68 Saving
Business saving
11/68*
Government surplus or deficit ,
Gross saving, private and government
9/68
Personal saving
Personal saving rate
Selling prices-See Prices, selling.
Sensitive prices, change in
5/69*
State and local government-See Government.
5/69*
Stock prices-See also International comparisons.
5/69*
500 common stocks
5/69*
500 common stocks, Dl
Stocks of materials and supplies on hand and on order . . .
Stocks of materials and supplies on hand and on order,
10/69* change
10/69* Surplus-See Government.
4/69
2/69"
11/68*
6/72
10/69
10/69
10/69
7/68*
5/69
5/69*
T
Treasury bill rate
Treasury bond yields
10/69
10/69*
11/68*
9/68*
U
Velocity of money
GNP to money supply M1 , ratio
Personal income to money supply M2, ratio
Vendor performance
4/72*
W
Wages and salaries-See Compensation.
West Germany-See International comparisons.
3/69'
Wholesale prices
All commodities, index
7/68*
All commodities, percent changes
Consumer finished goods, index
Consumer finished goods, percent changes
10/69
Crude
materials, index
10/69*
Crude materials, percent changes
Intermediate materials, index
Intermediate materials, percent changes
Producer finished goods, index
Producer finished goods, percent changes
Sensitive prices, change in
Workweek of production workers, manufacturing
Workweek
of production workers, manufacturing,
10/69
components
10/69* Workweek of production workers, manufacturing, Dl
961
6/69*
8/68"
NOTE: The following abbreviations are used in this index: Cl, composite index, Dl, diffusion index; GPDI, gross private domestic investment; and NIPA, national income and product accounts.
*The identification number for this series has been changed since the publication date shown.
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 numberSource 1—U.S. Department of Commerce, Bureau of
Economic Analysis; Source 2—U.S. Department of Commerce,
Bureau of the Census; Source 3—U.S. Department of Labor,
Bureau of Labor Statistics; Source 4—Board of Governors of
the Federal Reserve System.
Bureau of Economic Analysis and National Bureau of
Economic Research, Inc. (Used by permission. This
series may not be reproduced without written
permission from the source.)
(23,66)
10. Contracts and orders for plant and equipment in current
dollars (M).-Source 2 and McGraw-Hill Information
Systems Company; seasonal adjustment by Bureau of
the Census and Bureau of Economic Analysis (23,66)
11. Newly approved capital appropriations, 1,000
manufacturing corporations (Q).—The Conference
Board
(24,66)
12. Index of net business formation (M).-Source 1;
seasonal adjustment by Bureau of Economic Analysis
and National Bureau of Economic Research,
Inc.
(12,23,65)
33. Net change in mortgage debt held by financial
institutions and life insurance companies (M).—
American Council of Life Insurance; Federal National
Mortgage Association; U.S. Department of Housing and
Urban Development, Government National Mortgage
Association; National Association of Mutual Savings
Banks; U.S. Savings and Loan League; and source 4;
seasonal adjustment by Bureau of Economic
Analysis
(32,71)
34. Net cash flow, corporate, in current dollars (Q).Source 1
(29,70)
35. Net cash flow, corporate, in 1972 dollars (Q).-Source
1
(29,70)
36. Net change in inventories on hand and on order in 1972
dollars (smoothed) (M).-Sources 1, 2, and 3(13,26,68)
Following the source for each series is an indication of the
pages on which that series appears. The "Series Finding
Guide" also lists chart and table page numbers for each
series.
13. Number of new business incorporations (M).—Dun &
Bradstreet, Inc.; seasonal adjustment by Bureau of
Economic Analysis and National Bureau of Economic
Research, Inc.
(23,65)
37. Number of persons unemployed, labor force survey
(M).-Sources 2 and 3
(18,51,62,89)
I-A. Composite Indexes
14. Current liabilities of business failures (M).—Dun &
Bradstreet, Inc.
(33,72)
910. Composite index of twelve leading indicators (includes
series 1, 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
manufacturing corporations (Q).-Federal
mission and Securities and Exchange
seasonal adjustment by Bureau of
Analysis
39. Percent of consumer installment loans delinquent 30
days and over ( E O M ) . — A m e r i c a n B a n k e r s
Association
(33,72)
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
(1160)
18. Corporate profits after taxes in 1972 dollars (Q).Source 1
(28,69)
sales, all
Trade ComCommission;
Economic
(29,70)
38. Change in stocks of materials and supplies on hand and
on order, manufacturing (M).-Source 2
(26,68)
40. Number of employees in nonagricultural goodsproducing industries—mining, manufacturing, and
construction (M).-Source 3
(17,62)
41. Number of employees on nonagricultural payrolls,
establishment survey (M).-Source 3
(14,17,62)
42. Number of persons engaged in nonagricultural activities,
labor force survey (M).—Sources 2 and 3
(17,62)
43. Unemployment rate, total (M).-Sources 2 and 3(18,62)
19. Index of stock prices, 500 common stocks (M).Standard & Poor's Corporation
(13,28,59,69,96)
44. Unemployment rate, persons unemployed 15 weeks and
over(M).-Sources2 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
(12,23,66)
45. Average weekly insured unemployment rate, State
programs (M).—U.S. Department of Labor, Employment
and Training Administration
(18,62)
920. Composite index of four roughly coincident indicators
(includes series 41, 47, 51, 57) (M).-Source
1
(10,39,60)
21. Average weekly overtime hours of production workers,
manufacturing (M).—Source 3
(16,61)
46. Index of help-wanted advertising in newspapers (M).The Conference Board
(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
(H60)
1-B. Cyclical Indicators
1. A v e r a g e w o r k w e e k of production w o r k e r s ,
manufacturing (M).-Source 3
(12,16,61,77)
2. Accession rate, manufacturing (M).—Source 3 (16,61)
23. Index of industrial materials prices (M).—Source
3
((28,69,79)
24. Value of manufacturer's new orders, capital goods
industries, nondefense, in current dollars (M).—Source
2
(23,66)
25. Change in manufacturers' unfilled orders, durable goods
industries (M).-Source 2
(21,64)
47. Index of industrial production, total (M).—Source
4
(14,20,39,58,63,78,94)
48. Employee-hours in
(M).-Source 3
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
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)
7. Value of manufacturers' new orders, durable goods
industries, in 1972 dollars (M).-Sources 1, 2, and
3
(21,64)
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)
8. Value of manufacturers' new orders for consumer goods
and materials in 1972 dollars (M).-Sources 1, 2, and
3
(12,21,64)
31. Change in book value of manufacturing and trade
inventories, total (M).-Sources 1 and 2
(26,68)
9. Construction contracts awarded for commercial and
industrial buildings, floor space (M).-McGraw-Hill
Information Systems Company; seasonal adjustment by
http://fraser.stlouisfed.org/
114
Federal Reserve Bank of St. Louis
32. Vendor performance, percent of companies reporting
slower deliveries (M).-Purchasing Management
Association of Chicago
(12,21,64)
3. Layoff rate, manufacturing (M).-Source 3 (12,16,61)
4. Quit rate, manufacturing (M).—Source 3
5. Average weekly initial claims for
insurance, State programs (M).-U.S.
Labor, Employment and Training
seasonal adjustment by Bureau
Analysis
(16,61)
unemployment
Department of
Administration;
of Economic
(16,61)
6. Value of manufacturers' new orders, durable goods
industries, in current dollars (M).-Source 2(21,64,77)
1
2
(19,63)
(22,65)
57. Manufacturing and trade sales in 1972 dollars (M).Sources 1, 2, and 3
(14,22,65)
58. Index of consumer sentiment (Q,M).-University of
Michigan, Survey Research Center
(22,65)
59. Sales of retail stores in 1972 dollars (M).-Sources 1
2, and 3
(22,65)
TITLES AND SOURCES OF SERIES- Continued
60. Ratio, help-wanted advertising in newspapers (series
46) to number of persons unemployed (series 37)
(M).-Sources 1, 2, 3, and The Conference
Board
(17,61)
84. Rate of capacity utilization, materials (Q).—Source
4
(20,64)
119. Federal funds rate (M).-Source 4
(34,72)
85. Change in money supply Ml-B (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
components (M).—Source 1
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 (PPI of crude materials less
agricultural products) (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).—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;
seasonal adjustment by Bureau of Economic
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, business equipment
(M).-Source 4
(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
$8,69)
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, 1,000 manufacturing
corporations (EOQ).—The Conference Board (24,66)
102. Change in money supply M2 (M).-Source 4 (31,71)
104. Change in total liquid assets (smoothed) (M).-Sources
1 and 4
(13,31,71)
indicator
(36,74)
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 and 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 manufacturing industries
(Q).-The Conference Board
(37,75)
966. Diffusion index of industrial production-24 industries
(M).-Sources 1 and 4
(37,75,78)
967. Diffusion index of industrial materials prices—13
industrial materials (M).-Sources 1 and 3 (37,75,79)
105. Money supply Ml-B in 1972 dollars (M).-Sources 1, 3,
and 4
(31,71)
968. Diffusion index of stock prices, 500 common stocks—
53-82 industries ( M ) . - S t a n d a r d & P o o r ' s
Corporation
(37,75)
106. Money supply M2 in 1972 dollars (M).-Sources 1, 3,
and 4
(13,31,71)
970. Diffusion index of business expenditures for new plant
and equipment, total—18 industries (Q).-Source
1
(38,76)
107. Ratio, gross national product to money supply Ml-B
(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 businesses (M).—Source 4;
seasonal adjustment by Bureau of Economic
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 bonds (M).-U.S.
Department of the Treasury
(34,73)
116. Yield on new issues of high-grade corporate bonds
(M).-Citibank and U.S. Department of the
Treasury
(34,73)
117. Yield on municipal bonds, 20-bond average (M).—The
Bond Buyer
(34,73)
118. Secondary market yields on FHA mortgages (M).-U.S.
Department of Housing and Urban Development, Federal
Housing Administration
(34,73)
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)
115
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)
II-A. National Income and Product
30. Gross private domestic investment, change in business
inventories, all industries, in 1972 dollars (Q).—Source
1
(26, 42, 68, 81)
50. Gross national product in 1972 dollars (Q).-Source
1
(19,39,40,63,80)
64. Compensation of employees as a percent of national
income (Q).-Source 1
(30,47,70,83)
200. Gross national product in current dollars (Q).—Source
1
(40,80)
213. Final sales (series 50 minus series 30) in 1972 dollars
(Q).-Source 1
(40,80)
217. Per capita gross national product in 1972 dollars (Q).—
Sources 1 and 2
(40,80)
220. National income in current dollars (Q).-Source
1
(45,82)
223. Personal income in current dollars (M).-Source
1
(40,63)
224. Disposable personal income in current dollars (Q).—
Source 1
(40,80)
225. Disposable personal income in 1972 dollars (Q).—
Source 1
(40,80)
227. Per capita disposable personal income in 1972 dollars
(Q).-Sources 1 and 2
(40,80)
247. Gross private domestic investment, change in business
inventories, all industries, as a percent of gross national
product (Q).-Source 1
(47,83)
292. Personal saving (Q).-Source 1
248. Gross private domestic fixed investment, nonresidential,
as a percent of gross national product (Q).—Source
1
(47,83)
295. Business saving—undistributed corporate profits plus
capital consumption allowances with inventory valuation
and capital consumption adjustments (Q).—Source
1
(46,82)
249. Gross private domestic fixed investment, residential, as
a percent of gross national product (Q).—Source
1
(47,83)
250. Net exports of goods and services in current dollars;
national income and product accounts (Q).—Source
1
(44,82)
251. Net exports of goods and services as a percent of gross
national product (Q).-Source 1
(47,83)
252. Exports of goods and services in current dollars;
national income and product accounts (Q).—Source
1
(44,82)
253. Imports of goods and services in current dollars;
national income and product accounts (Q).—Source
1
(44,82)
255. Net exports of goods and services in 1972 dollars;
national income and product accounts (Q).—Source
1
(44,82)
256. Exports of goods and services in 1972 dollars; national
income and product accounts (Q).—Source 1 (44,82)
257. Imports of goods and services in 1972 dollars; national
income and product accounts (Q).-Source 1 (44,82)
260. Government purchases of goods and services, total, in
current dollars (Q).-Source 1
(43,81)
261. Government purchases of goods and services, total, in
1972 dollars (Q).-Source 1
(43,81)
262. Federal Government purchases of goods and services in
current dollars (Q).-Source 1
(43,81)
263. Federal Government purchases of goods and services in
1972 dollars (Q).-Source 1
(43,81)
(46,82)
293. Personal saving rate—personal saving as a percent of
disposable personal income (Q).—Source 1 (46,83)
298. Government surplus or deficit, total (Q).-Source
1
(46,83)
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)
265. Federal Government purchases of goods and services as
a percent of gross national product (Q).—Source
1
(47,83)
266. State and local government purchases of goods and
services in current dollars (Q).—Source 1
(43,81)
267. State and local government purchases of goods and
services in 1972 dollars (Q).-Source 1
(43,81)
341. Index of real average hourly earnings of production
workers, private nonfarm economy—adjusted for
overtime (in manufacturing only), interindustry
employment shifts, and seasonality (M).—Source
3
(49,87)
268. State and local government purchases of goods and
services as a percent of gross national product (Q).—
Source 1
(47,83)
346. Index of real average hourly compensation, all
employees, nonfarm business sector (Q).—Source
3
(49,88)
280. Compensation of employees (Q).-Source 1
282. Proprietors' income with inventory valuation and capital
consumption adjustments (Q).—Source 1
(45,82)
348. Negotiated wage and benefit decisions, all industriesfirst year average (mean) changes (Q).—Source
3
(50,88)
237. Personal consumption expenditures, services, in current
dollars (Q).-Source 1
(41,81)
283. Proprietors' income with inventory valuation and capital
consumption adjustments as a percent of national
income (Q).-Source 1
(47,83)
349. Negotiated wage and benefit decisions, all industriesaverage (mean) changes over life of contract (Q).—
Source 3
(50,88)
238. Personal consumption expenditures, nondurable goods,
in 1972 dollars (Q).-Source 1
(41,81)
284. Rental income of persons with capital consumption
adjustment (Q).-Source 1
(45,82)
239. Personal consumption expenditures, services, in 1972
dollars (Q).-Source 1
(41,81)
285. Rental income of persons with capital consumption
adjustment as a percent of national income (Q).—
Source 1
(47,83)
230. Personal consumption expenditures, total, in current
dollars (Q).-Source 1
(41,80)
231. Personal consumption expenditures, total, in 1972 dollars (Q).-Source 1
(41,80)
232. Personal consumption expenditures, durable goods, in
current dollars (Q).-Source 1
(41,80)
233. Personal consumption expenditures, durable goods, in
1972 dollars (Q).-Source 1
(41,80)
235. Personal consumption expenditures, total, as a percent
of gross national product (Q).—Source 1
(47,83)
236. Personal consumption expenditures, nondurable goods,
in current dollars (Q).-Source 1
(41,81)
240. Gross private domestic investment, total, in current dollars (Q).-Source 1
(42,81)
241. Gross private domestic investment, total, in 1972 dollars (Q).-Source 1
(42,81)
242. Gross private domestic fixed investment, total, in
current dollars (Q).-Source 1
(42,81)
243. Gross private domestic fixed investment, total, in 1972
dollars (Q).-Source 1
(42,81)
245. Gross private domestic investment, change in business
inventories, all industries, in current dollars (Q).—
Source 1
(42,81)
http://fraser.stlouisfed.org/
116
Federal Reserve Bank of St. Louis
(45,82)
286. Corporate profits with inventory valuation and capital
consumption adjustments (Q).-Source 1
(47,82)
287. Corporate profits with inventory valuation and capital
consumption adjustments as a percent of national
income (Q).-Source 1
(47,83)
345. Index of average hourly compensation, all employees,
nonfarm business sector (Q).-Source 3
(49,87)
358. Index of output per hour, all persons, nonfarm business
sector (Q).-Source 3
(49,88)
370. Index of output per hour, all persons, private business
sector (Q).-Source 3
(49,88)
II-C. Labor Force, Employment, and
Unemployment
37. Number of persons unemployed, labor force survey
(M).-Sources 2 and 3
(18,51,62,89)
(45,82)
441. Total civilian labor force, labor force survey (M).—
Sources 2 and 3
(51,89)
289. Net interest as a percent of national income (Q).—
Source 1
(47,83)
442. Total civilian employment, labor force survey (M).—
Sources 2 and 3
(51,89)
290. Gross saving—private saving plus government surplus or
deficit (Q).-Source 1
(46,82)
444. Number unemployed, males 20 years and over, labor
force survey (M).-Sources 2 and 3
(51,89)
288. Net interest (Q).-Source 1
TITLES AND SOURCES OF SERIES- Continued
445. Number unemployed, females 20 years and over, labor
force survey (M).-Sources 2 and 3
(51,89)
565. National defense purchases as a percent of gross
national product (Q).-Source 1
(55,91)
47. United States, index of industrial production, total
(M).-Source 4
(14,20,39,58,63,78,94)
446. Number unemployed, both sexes 16-19 years of age,
labor force survey (M).-Sources 2 and 3
(51,89)
570. Employment in defense products industries (M).Source 3; seasonal adjustment by Bureau of Economic
Analysis
(55,91)
320. United States, index of consumer prices, all items
(M).-Source 3
(48,59,84,95)
447. Number unemployed, full-time workers, labor force
survey (M).-Sources 2 and 3
(51,89)
448. Number employed, part-time workers for economic
reasons, labor force survey (M).—Sources 2 and
3
(51,89)
451. Civilian labor force participation rate, males 20 years
and over (M).-Sources 2 and 3
(51,89)
577. Defense Department personnel, military, active duty
(EOM).-U.S. Department of Defense, OSD, Comptroller,
Washington Headquarters Services
(55,91)
578. Defense Department personnel, civilian, direct hire
employment (EOM).-U.S. Department of Defense, OSD,
Comptroller, Washington Headquarters Services(55,91)
453. Civilian labor force participation rate, both sexes 16-19
years of age (M).-Sources 2 and 3
(51,89)
580. Defense Department net outlays, military functions and
military assistance (M).-U.S. Department of Defense,
OSD, Comptroller, Directorate for Program and
Financial Control; seasonal adjustment by Bureau of
Economic Analysis
(54,91)
II-D. Government Activities
588. Value of manufacturers' shipments, defense products
(M).-Source 2
(54,91)
500. Federal Government surplus or deficit; national income
and product accounts (Q).-Source 1
(52,90)
II-E. U.S. International Transactions
501. Federal Government receipts; national income and product accounts (Q).-Source 1
(52,90)
602. Exports, excluding military aid shipments, total (M).Source 2
(56,92)
502. Federal Government expenditures; national income and
product accounts (Q).-Source 1
(52,90)
604. Exports of agricultural products (M).—Source 2;
seasonal adjustment by Bureau of Economic
Analysis
(56,92)
452. Civilian labor force participation rate, females 20 years
and over (M).-Sources 2 and 3
(51,89)
510. State and local government surplus or deficit; national
income and product accounts (Q).—Source 1 (52,90)
511. State and local government receipts; national income
and product accounts (Q).-Source 1
(52,90)
512. State and local government expenditures; national
income and product accounts (Q).—Source 1 (52,90)
517. Defense Department gross obligations incurred (M).—
U.S. Department of Defense, OSD, Comptroller,
Directorate for Program and Financial Control; seasonal
adjustment by Bureau of Economic Analysis (53,90)
525. Defense Department military prime contract awards for
work performed in the United States (M).-U.S.
Department of Defense, OSD, Comptroller, Washington
Headquarters Services; seasonal adjustment by Bureau
of Economic Analysis
(53,90)
543. Defense Department gross unpaid obligations
outstanding (EOM).-U.S. Department of Defense, OSD,
Comptroller, Directorate for Program and Financial
Control; seasonal adjustment by Bureau of Economic
Analysis
(53,90)
548. Value of manufacturers' new orders, defense products
(M).- Source 2
(53,90)
(56,92)
614. Imports of petroleum and petroleum products (M).—
Source 2; seasonal adjustment by Bureau of Economic
Analysis
(56,92)
616. Imports of automobiles and parts (M).—Source 2;
seasonal adjustment by Bureau of Economic
Analysis
(56,92)
618. Merchandise exports, adjusted, excluding military grants
(Q).-Source 1
(57,93)
620. Merchandise imports, adjusted, excluding military
(Q).-Source 1
(57,93)
622. Balance on merchandise trade (Q).-Source 1 (57,93)
651. Income on U.S. investments abroad (Q).-Source
1
(57,93)
652. Income on foreign investments in the United States
(Q).-Source 1
(57,93)
667. 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 of goods and services, total (Q).—Source
1
(57,93)
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).-lnstituto
Centrale di Statistica (Rome)
(58,94)
606. Exports of nonelectrical machinery (M).—Source 2;
seasonal adjustment by Bureau of Economic
Analysis
(56,92)
612. General imports, total (M).-Source 2
721. Organization for Economic Cooperation and
Development, European countries, index of industrial
production (M).—Organization for Economic Cooperation and Development (Paris)
(58,94)
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).-lnstituto 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).-lnstituto Centrale di
Statistica (Rome)
(59,96)
748. Japan, index of stock prices (M).—Tokyo Stock
Exchange (Tokyo)
(59,96)
Superintendent of Documents
U.S. Government Printing Office
Washington, D.C. 20402
OFFICIAL BUSINESS
Penalty for Private Use $300
FIRST-CLASS MAIL
POSTAGE & FEES PAID
USDC
WASHINGTON, D.C.
PERMIT No. G-56
@FedFRASER