Full text of Economic Indicators : June 2007
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110th Congress, 1st Session Economic Indicators JUNE 2007 (Includes data available as of July 9, 2007) Prepared for the Joint Economic Committee by the Council of Economic Advisers UNITED STATES GOVERNMENT PRINTING OFFICE hmoore on PRODPC68 with HMECOIND WASHINGTON : 2007 VerDate Aug 31 2005 01:19 Jul 12, 2007 Jkt 036496 PO 00000 Frm 00039 Fmt 3439 Sfmt 3439 E:\HR\OC\ECOIND.039 ECOIND JOINT ECONOMIC COMMITTEE (Created pursuant to Sec. 5(a) of Public Law 304, 79th Cong.) CHARLES E. SCHUMER, New York, Chairman CAROLYN B. MALONEY, New York, Vice Chair HOUSE OF REPRESENTATIVES MAURICE D. HINCHEY, New York BARON P. HILL, Indiana LORETTA SANCHEZ, California ELIJAH E. CUMMINGS, Maryland LLOYD DOGGETT, Texas JIM SAXTON, New Jersey KEVIN BRADY, Texas PHIL ENGLISH, Pennsylvania RON PAUL, Texas SENATE EDWARD M. KENNEDY, Massachusetts JEFF BINGAMAN, New Mexico AMY KLOBUCHAR, Minnesota ROBERT P. CASEY, Jr., Pennsylvania JIM WEBB, Virginia SAM BROWNBACK, Kansas JOHN E. SUNUNU, New Hampshire JIM DeMINT, South Carolina ROBERT F. BENNETT, Utah COUNCIL OF ECONOMIC ADVISERS EDWARD P. LAZEAR, Chairman KATHERINE BAICKER, Member [PUBLIC LAW 120—81ST CONGRESS; CHAPTER 237—1ST SESSION] JOINT RESOLUTION [S.J. Res. 55] To print the monthly publication entitled ‘‘Economic Indicators’’ Resolved by the Senate and House of Representatives of the United States of America in Congress assembled, That the Joint Economic Committee be authorized to issue a monthly publication entitled ‘‘Economic Indicators,’’ and that a sufficient quantity be printed to furnish one copy to each Member of Congress; the Secretary and the Sergeant at Arms of the Senate; the Clerk, Sergeant at Arms, and Doorkeeper of the House of Representatives; two copies to the libraries of the Senate and House, and the Congressional Library; seven hundred copies to the Joint Economic Committee; and the required numbers of copies to the Superintendent of Documents for distribution to depository libraries; and that the Superintendent of Documents be authorized to have copies printed for sale to the public. Approved June 23, 1949. Charts prepared under the direction of the Printing and Procurement Branch, Office of the Secretary, Department of Commerce. hmoore on PRODPC68 with HMECOIND Economic Indicators, published monthly, is available at $5.00 a single copy ($7.00 foreign), or by subscription at $58.00 per year ($81.20 for foreign mailing) from: SUPERINTENDENT OF DOCUMENTS GOVERNMENT PRINTING OFFICE WASHINGTON, D.C. 20402 For sale by the U.S. Government Printing Office Superintendent of Documents, Mail Stop: SSOP, Washington, DC 20402–9328 Also available on the internet at the following address: http://www.gpoaccess.gov/indicators ii VerDate Aug 31 2005 01:19 Jul 12, 2007 Jkt 036496 PO 00000 Frm 00040 Fmt 3440 Sfmt 3440 E:\HR\OC\ECOIND.040 ECOIND TOTAL OUTPUT, INCOME, AND SPENDING GROSS DOMESTIC PRODUCT In the first quarter of 2007, according to revised estimates, current-dollar gross domestic product (GDP) rose 4.9 percent (annual rate), real GDP (GDP in chained 2000 dollars) rose 0.7 percent, and the implicit price deflator rose 4.2 percent. [Billions of current dollars; quarterly data at seasonally adjusted annual rates] 1997 ...................... 1998 ...................... 1999 ...................... 2000 ...................... 2001 ...................... 2002 ...................... 2003 ...................... 2004 ...................... 2005 ...................... 2006 ...................... 2003: III ............. IV .............. 2004: I ................ II ............... III ............. IV .............. 2005: I ................ II ............... III ............. IV .............. 2006: I ................ II ............... III ............. IV .............. 2007: I r ............... 1 GDP Net exports Exports 8,304.3 8,747.0 9,268.4 9,817.0 10,128.0 10,469.6 10,960.8 11,712.5 12,455.8 13,246.6 11,086.1 11,219.5 11,430.9 11,649.3 11,799.4 11,970.3 12,173.2 12,346.1 12,573.5 12,730.5 13,008.4 13,197.3 13,322.6 13,458.2 13,620.2 ¥101.6 ¥159.9 ¥260.5 ¥379.5 ¥367.0 ¥424.4 ¥499.4 ¥613.2 ¥716.7 ¥762.5 ¥495.2 ¥501.8 ¥543.4 ¥606.2 ¥630.7 ¥672.7 ¥676.2 ¥686.4 ¥728.8 ¥775.4 ¥765.2 ¥781.8 ¥801.7 ¥701.2 ¥718.0 955.3 955.9 991.2 1,096.3 1,032.8 1,005.9 1,040.8 1,178.1 1,303.1 1,466.2 1,040.7 1,099.1 1,135.1 1,166.3 1,185.3 1,225.8 1,254.0 1,293.8 1,312.4 1,352.4 1,405.4 1,448.1 1,488.3 1,523.0 1,540.9 5,547.4 5,879.5 6,282.5 6,739.4 7,055.0 7,350.7 7,703.6 8,211.5 8,742.4 9,268.9 7,782.6 7,855.3 8,018.0 8,148.1 8,265.0 8,414.8 8,519.7 8,674.6 8,847.3 8,927.8 9,079.2 9,228.1 9,346.7 9,421.8 9,601.0 1,389.8 1,509.1 1,625.7 1,735.5 1,614.3 1,582.1 1,664.1 1,888.0 2,057.4 2,212.5 1,690.5 1,742.3 1,781.9 1,892.2 1,917.7 1,960.2 2,013.5 2,009.1 2,052.6 2,154.5 2,214.8 2,237.1 2,235.5 2,162.6 2,119.3 Government consumption expenditures and gross investment Federal Imports Total Total 1,056.9 1,115.9 1,251.7 1,475.8 1,399.8 1,430.3 1,540.2 1,791.4 2,019.9 2,228.7 1,535.9 1,600.9 1,678.5 1,772.5 1,815.9 1,898.5 1,930.2 1,980.2 2,041.2 2,127.8 2,170.6 2,229.8 2,290.1 2,224.2 2,258.9 less exports of goods and services plus imports of goods and services. 1,468.7 1,518.3 1,620.8 1,721.6 1,825.6 1,961.1 2,092.5 2,226.2 2,372.8 2,527.7 2,108.2 2,123.7 2,174.4 2,215.1 2,247.3 2,268.0 2,316.2 2,348.9 2,402.4 2,423.6 2,479.6 2,513.9 2,542.1 2,575.1 2,617.8 530.9 530.4 555.8 578.8 612.9 679.7 756.4 825.9 878.3 926.6 764.8 772.8 808.2 823.8 838.4 833.2 862.9 868.4 895.8 886.2 921.7 919.7 927.2 937.7 943.1 National defense 349.6 345.7 360.6 370.3 392.6 437.1 497.2 551.2 589.3 621.0 501.5 513.1 537.7 548.1 564.1 555.1 576.8 584.3 605.0 590.9 613.5 616.5 618.1 635.8 633.5 Nondefense 181.3 184.7 195.2 208.5 220.3 242.5 259.2 274.7 289.0 305.6 263.3 259.7 270.5 275.7 274.3 278.1 286.0 284.1 290.7 295.3 308.2 303.2 309.0 301.9 309.6 State and local 937.8 987.9 1,065.0 1,142.8 1,212.8 1,281.5 1,336.0 1,400.3 1,494.4 1,601.1 1,343.3 1,350.9 1,366.3 1,391.4 1,409.0 1,434.8 1,453.3 1,480.5 1,506.6 1,537.4 1,557.9 1,594.2 1,614.9 1,637.4 1,674.7 Final sales of domestic product Gross domestic purchases 1 Addendum: Gross national product 8,232.3 8,676.2 9,201.5 9,760.5 10,159.7 10,457.7 10,946.5 11,655.1 12,434.6 13,197.0 11,074.3 11,193.6 11,392.9 11,569.9 11,744.6 11,913.0 12,113.8 12,353.7 12,588.8 12,681.9 12,961.2 13,135.1 13,258.4 13,433.3 13,627.2 8,405.9 8,906.9 9,528.9 10,196.4 10,495.0 10,894.0 11,460.2 12,325.7 13,172.5 14,009.1 11,581.3 11,721.3 11,974.4 12,255.4 12,430.1 12,643.0 12,849.4 13,032.6 13,302.3 13,505.9 13,773.6 13,979.1 14,124.3 14,159.4 14,338.2 8,337.3 8,768.3 9,302.2 9,855.9 10,171.6 10,500.2 11,017.6 11,758.7 12,487.7 13,276.5 11,139.8 11,297.3 11,501.5 11,689.7 11,845.3 11,998.5 12,207.5 12,374.6 12,625.7 12,743.0 13,037.4 13,220.1 13,339.2 13,509.3 13,674.0 Source: Department of Commerce, Bureau of Economic Analysis. 1 VerDate Aug 31 2005 01:19 Jul 12, 2007 Jkt 036496 PO 00000 Frm 00001 Fmt 3401 Sfmt 3401 E:\HR\OC\ECOIND.001 ECOIND G:\GRAPHICS\eecoind.001 hmoore on PRODPC68 with HMECOIND Period Exports and imports of goods and services Personal Gross Gross conprivate domestic sumption domestic product expendi- investtures ment REAL GROSS DOMESTIC PRODUCT [Billions of chained (2000) dollars; quarterly data at seasonally adjusted annual rates] Gross private domestic investment Gross domestic product Period 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2003: 2004: 2005: 2006: 2007: ......... ......... ......... ......... ......... ......... ......... ......... ......... ......... III IV .. I .... II ... III IV .. I .... II ... III IV .. I .... II ... III IV .. I r ... 8,703.5 9,066.9 9,470.3 9,817.0 9,890.7 10,048.8 10,301.0 10,703.5 11,048.6 11,415.3 10,398.7 10,467.0 10,566.3 10,671.5 10,753.3 10,822.9 10,913.8 11,001.8 11,115.1 11,163.8 11,316.4 11,388.1 11,443.5 11,513.0 11,532.8 Personal conNonresi- Resi- Change sumption dential dential in priexpendifixed fixed vate tures invest- invest- invenment ment tories 5,831.8 6,125.8 6,438.6 6,739.4 6,910.4 7,099.3 7,295.3 7,577.1 7,841.2 8,091.4 7,352.9 7,394.3 7,479.8 7,534.4 7,607.1 7,687.1 7,739.4 7,819.8 7,895.3 7,910.2 8,003.8 8,055.0 8,111.2 8,195.9 8,280.7 934.2 1,037.8 1,133.3 1,232.1 1,180.5 1,071.5 1,081.8 1,145.8 1,223.8 1,312.4 1,098.8 1,106.5 1,111.2 1,130.7 1,158.8 1,182.3 1,199.7 1,214.8 1,232.4 1,248.2 1,288.8 1,302.8 1,334.2 1,323.7 1,332.3 388.6 71.2 418.3 72.6 443.6 68.9 446.9 56.5 448.5 ¥31.7 469.9 12.5 509.4 14.3 559.9 53.4 608.0 19.6 582.2 43.2 521.8 10.5 535.2 25.0 539.2 35.9 564.1 74.7 568.6 50.8 567.7 52.0 582.8 55.2 609.9 ¥7.4 620.4 ¥12.7 618.9 43.5 618.5 41.2 600.5 53.7 570.3 55.4 539.7 22.4 517.1 ¥4.2 Exports and imports of goods and services Government consumption expenditures and gross investment Federal Net exports Exports Imports Total ¥104.6 ¥203.7 ¥296.2 ¥379.5 ¥399.1 ¥471.3 ¥518.9 ¥590.9 ¥619.2 ¥618.0 ¥513.8 ¥527.8 ¥548.5 ¥593.9 ¥599.4 ¥621.9 ¥626.4 ¥606.1 ¥607.6 ¥636.6 ¥636.6 ¥624.2 ¥628.8 ¥582.6 ¥606.2 943.7 966.5 1,008.2 1,096.3 1,036.7 1,013.3 1,026.1 1,120.4 1,196.1 1,302.8 1,026.3 1,075.8 1,094.8 1,111.3 1,124.3 1,151.3 1,164.5 1,191.0 1,200.5 1,228.4 1,269.3 1,288.5 1,310.0 1,343.5 1,345.7 1,048.3 1,170.3 1,304.4 1,475.8 1,435.8 1,484.6 1,545.0 1,711.3 1,815.3 1,920.9 1,540.0 1,603.6 1,643.2 1,705.2 1,723.7 1,773.1 1,790.9 1,797.1 1,808.1 1,865.0 1,905.9 1,912.7 1,938.8 1,926.1 1,951.9 1,594.0 1,624.4 1,686.9 1,721.6 1,780.3 1,858.8 1,904.8 1,940.6 1,958.0 1,998.4 1,914.5 1,918.0 1,931.8 1,942.6 1,948.7 1,939.3 1,947.2 1,952.6 1,968.8 1,963.5 1,987.1 1,991.2 1,999.4 2,016.1 2,021.1 1 GDP less exports of goods and services plus imports of goods and services. NOTE.—Because of the formula used for calculating real GDP, the chained (2000) dollar estimates for the detailed components do not add to the chained-dollar value of GDP or to any intermediate aggregates. Total National defense Nondefense 567.6 561.2 573.7 578.8 601.4 643.4 687.1 716.6 727.5 741.9 693.7 699.0 711.3 715.7 724.5 714.9 720.8 721.6 738.2 729.6 745.1 736.6 738.9 747.2 739.8 373.0 365.3 372.2 370.3 384.9 413.2 449.0 475.4 483.6 492.8 452.2 461.1 471.3 473.6 484.0 472.6 477.8 481.1 494.1 481.4 491.8 489.3 487.8 502.2 492.7 194.5 195.9 201.5 208.5 216.5 230.2 238.0 241.0 243.7 248.9 241.5 237.8 239.9 241.9 240.1 242.1 242.8 240.1 243.8 248.0 253.1 247.0 250.9 244.7 246.8 State and local 1,025.9 1,063.0 1,113.2 1,142.8 1,179.0 1,215.4 1,217.8 1,223.9 1,230.4 1,256.4 1,220.8 1,219.0 1,220.4 1,226.8 1,224.1 1,224.3 1,226.3 1,230.9 1,230.5 1,233.7 1,242.0 1,254.4 1,260.3 1,268.7 1,281.0 Final sales of domestic product Gross domestic purchases 1 Addendum: Gross national product 8,636.6 8,997.6 9,404.0 9,760.5 9,920.9 10,036.5 10,285.1 10,648.3 11,025.2 11,365.8 10,385.9 10,440.0 10,528.7 10,596.1 10,700.1 10,768.2 10,856.5 11,005.3 11,123.5 11,115.5 11,269.0 11,328.0 11,381.6 11,484.5 11,532.2 8,807.6 9,272.5 9,767.7 10,196.4 10,290.1 10,517.7 10,815.5 11,286.5 11,659.7 12,027.3 10,908.7 10,989.5 11,108.5 11,257.2 11,344.5 11,435.9 11,531.5 11,599.9 11,714.6 11,792.9 11,946.3 12,005.9 12,066.6 12,090.6 12,133.6 8,737.5 9,088.7 9,504.7 9,855.9 9,933.6 10,079.0 10,355.3 10,746.8 11,077.9 11,441.7 10,449.9 10,540.5 10,632.2 10,709.4 10,796.3 10,849.3 10,946.0 11,028.2 11,162.0 11,175.6 11,342.7 11,408.5 11,458.5 11,557.3 11,579.2 Source: Department of Commerce, Bureau of Economic Analysis. IMPLICIT PRICE DEFLATORS FOR GROSS DOMESTIC PRODUCT [Index numbers, 2000=100; quarterly data are seasonally adjusted] Personal consumption expenditures Gross domestic product Period 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2003: 2004: 2005: hmoore on PRODPC68 with HMECOIND 2006: 2007: ................. ................. ................. ................. ................. ................. ................. ................. ................. ................. III ......... IV .......... I ............ II ........... III ......... IV .......... I ............ II ........... III ......... IV .......... I ............ II ........... III ......... IV .......... I r ........... 95.414 96.472 97.868 100.000 102.399 104.187 106.404 109.426 112.737 116.043 106.611 107.190 108.183 109.162 109.728 110.601 111.539 112.219 113.121 114.034 114.951 115.887 116.420 116.895 118.100 Total 95.124 95.979 97.575 100.000 102.094 103.542 105.597 108.373 111.493 114.552 105.845 106.235 107.195 108.146 108.649 109.467 110.083 110.931 112.058 112.865 113.436 114.564 115.232 114.957 115.945 Durable goods Nondurable goods 107.068 104.152 101.625 100.000 98.113 95.767 92.366 90.844 90.198 88.981 91.882 91.065 91.054 91.109 90.581 90.648 90.712 90.573 89.912 89.610 89.389 89.210 88.970 88.370 87.958 93.835 93.821 96.174 100.000 101.531 102.090 104.145 107.617 111.531 114.939 104.420 104.553 106.007 107.553 107.854 109.017 109.310 110.587 112.998 113.158 113.466 115.750 116.423 114.122 115.534 Gross private domestic investment Services Nonresidential fixed 93.304 95.318 97.393 100.000 103.256 106.019 109.379 112.863 116.529 120.510 109.801 110.620 111.564 112.435 113.294 114.123 115.041 115.921 116.850 118.273 119.185 120.051 120.953 121.816 122.952 103.696 101.421 100.057 100.000 99.683 99.513 99.591 100.834 103.428 106.385 99.508 99.845 100.082 100.607 100.967 101.625 102.528 103.043 103.596 104.499 105.459 106.255 106.490 107.310 107.835 Exports and imports of Government consumption expenditures goods and services and gross investment Federal Residential fixed 89.843 92.239 95.780 100.000 104.633 107.240 112.372 120.618 126.714 131.679 112.181 114.285 117.166 119.707 121.866 123.551 124.256 125.409 127.533 129.496 130.724 131.654 131.613 132.870 133.394 Exports Imports Total 101.233 98.905 98.313 100.000 99.625 99.272 101.429 105.152 108.950 112.540 101.409 102.164 103.684 104.955 105.423 106.472 107.684 108.632 109.324 110.091 110.720 112.383 113.614 113.361 114.501 100.816 95.354 95.960 100.000 97.497 96.342 99.686 104.678 111.269 116.024 99.734 99.828 102.149 103.948 105.353 107.070 107.777 110.189 112.890 114.090 113.890 116.581 118.116 115.475 115.729 93.533 94.512 96.883 100.000 101.908 105.632 110.095 115.249 120.726 124.885 110.252 110.552 113.613 115.093 115.721 116.555 119.706 120.355 121.346 121.472 123.715 124.865 125.475 125.489 127.488 Source: Department of Commerce, Bureau of Economic Analysis. 2 VerDate Aug 31 2005 01:19 Jul 12, 2007 Jkt 036496 PO 00000 Frm 00002 Fmt 3401 Sfmt 3401 E:\HR\OC\ECOIND.002 ECOIND National defense Nondefense State and local 93.716 94.643 96.886 100.000 102.002 105.792 110.751 115.954 121.855 126.015 110.908 111.280 114.091 115.715 116.530 117.460 120.736 121.446 122.461 122.753 124.746 125.999 126.707 126.601 128.589 93.192 94.269 96.880 100.000 101.738 105.345 108.898 113.962 118.606 122.761 109.052 109.218 112.773 113.972 114.227 114.869 117.785 118.311 119.257 119.056 121.783 122.733 123.151 123.402 125.429 91.414 92.935 95.667 100.000 102.868 105.434 109.712 114.417 121.463 127.439 110.041 110.822 111.952 113.419 115.104 117.189 118.516 120.272 122.434 124.615 125.428 127.090 128.142 129.057 130.739 GROSS DOMESTIC PRODUCT AND RELATED PRICE MEASURES: INDEXES AND PERCENT CHANGES [Quarterly data are seasonally adjusted] Percent change from preceding period 1 Index numbers, 2000=100 Real GDP (chain-type quantity index) Period 1997 ...................................................................................... 1998 ...................................................................................... 1999 ...................................................................................... 2000 ...................................................................................... 2001 ...................................................................................... 2002 ...................................................................................... 2003 ...................................................................................... 2004 ...................................................................................... 2005 ...................................................................................... 2006 ...................................................................................... 2002: III ............................................................................. IV .............................................................................. 2003: I ................................................................................ II ............................................................................... III ............................................................................. IV .............................................................................. 2004: I ................................................................................ II ............................................................................... III ............................................................................. IV .............................................................................. 2005: I ................................................................................ II ............................................................................... III ............................................................................. IV .............................................................................. 2006: I ................................................................................ II ............................................................................... III ............................................................................. IV .............................................................................. 2007: I r ............................................................................... 1 Quarterly GDP chain-type price index 88.658 92.359 96.469 100.000 100.751 102.362 104.931 109.031 112.546 116.281 102.788 102.840 103.148 104.031 105.926 106.621 107.633 108.705 109.538 110.247 111.173 112.069 113.223 113.719 115.274 116.004 116.569 117.277 117.478 95.415 96.475 97.868 100.000 102.402 104.193 106.409 109.429 112.744 116.062 104.347 104.926 105.742 106.076 106.616 107.204 108.190 109.172 109.744 110.610 111.558 112.229 113.139 114.048 114.967 115.905 116.446 116.930 118.131 percent changes are at annual rates. GDP implicit price deflator GDP (current dollars) 95.414 96.472 97.868 100.000 102.399 104.187 106.404 109.426 112.737 116.043 104.328 104.907 105.724 106.062 106.611 107.190 108.183 109.162 109.728 110.601 111.539 112.219 113.121 114.034 114.951 115.887 116.420 116.895 118.100 Real GDP (chain-type quantity index) 6.2 5.3 6.0 5.9 3.2 3.4 4.7 6.9 6.3 6.3 3.9 2.4 4.4 4.8 9.7 4.9 7.8 7.9 5.3 5.9 7.0 5.8 7.6 5.1 9.0 5.9 3.8 4.1 4.9 GDP chain-type price index 4.5 4.2 4.5 3.7 .8 1.6 2.5 3.9 3.2 3.3 2.4 .2 1.2 3.5 7.5 2.7 3.9 4.0 3.1 2.6 3.4 3.3 4.2 1.8 5.6 2.6 2.0 2.5 .7 GDP implicit price deflator 1.7 1.1 1.4 2.2 2.4 1.7 2.1 2.8 3.0 2.9 1.6 2.2 3.1 1.3 2.1 2.2 3.7 3.7 2.1 3.2 3.5 2.4 3.3 3.3 3.3 3.3 1.9 1.7 4.2 1.7 1.1 1.4 2.2 2.4 1.7 2.1 2.8 3.0 2.9 1.5 2.2 3.2 1.3 2.1 2.2 3.8 3.7 2.1 3.2 3.4 2.5 3.3 3.3 3.3 3.3 1.9 1.6 4.2 Source: Department of Commerce, Bureau of Economic Analysis. NONFINANCIAL CORPORATE BUSINESS–GROSS VALUE ADDED AND PRICE, COSTS, AND PROFITS [Quarterly data at seasonally adjusted annual rates] Price per unit of real gross value added of nonfinancial corporate business (dollars) 1 2 Gross value added of nonfinancial corporate business (billions of dollars)1 Unit nonlabor cost Period 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2003: 2004: 2005: hmoore on PRODPC68 with HMECOIND 2006: 2007: ........................................................ ........................................................ ........................................................ ........................................................ ........................................................ ........................................................ ........................................................ ........................................................ ........................................................ ........................................................ III ................................................ IV ................................................ I ................................................... II ................................................. III ................................................ IV ................................................ I ................................................... II ................................................. III ................................................ IV ................................................ I ................................................... II ................................................. III ................................................ IV ................................................ I r .................................................. Current dollars Chained (2000) dollars 4,401.8 4,655.0 4,950.8 5,272.2 5,293.5 5,371.7 5,558.4 5,932.9 6,369.7 6,858.6 5,603.3 5,684.6 5,780.2 5,878.9 5,992.9 6,079.6 6,193.9 6,324.4 6,425.7 6,534.8 6,788.2 6,790.0 6,898.9 6,957.1 7,047.3 4,469.3 4,725.4 5,011.0 5,272.2 5,224.5 5,269.7 5,387.5 5,630.0 5,852.9 6,133.8 5,424.6 5,481.9 5,549.0 5,587.8 5,677.7 5,705.7 5,763.4 5,844.4 5,875.8 5,927.8 6,111.2 6,069.0 6,158.9 6,196.2 6,218.4 Total Compensation of employees (unit labor cost) 0.985 .985 .988 1.000 1.013 1.019 1.032 1.054 1.088 1.118 1.033 1.037 1.042 1.052 1.056 1.066 1.075 1.082 1.094 1.102 1.111 1.119 1.120 1.123 1.133 1 Estimates for nonfinancial corporate business for 2000 and earlier periods are based on the Standard Industrial Classification (SIC); later estimates are based on the North American Industry Classification System (NAICS). 2 The implicit price deflator for gross value added of nonfinancial corporate business divided by 100. 0.629 .645 .652 .672 .688 .685 .687 .688 .700 .716 .687 .689 .684 .686 .686 .695 .696 .693 .705 .708 .710 .717 .712 .724 .730 Total 0.228 .226 .229 .237 .257 .253 .253 .250 .257 .255 .252 .251 .248 .250 .250 .252 .254 .255 .262 .258 .253 .260 .255 .256 .257 Consumption of fixed capital Taxes on production and imports 3 Net interest and miscellaneous payments 0.105 .104 .105 .108 .124 .122 .122 .122 .126 .121 .122 .121 .120 .120 .126 .121 .122 .122 .137 .124 .120 .123 .121 .122 .122 0.095 .092 .092 .093 .094 .099 .103 .104 .104 .105 .103 .104 .104 .105 .100 .106 .106 .107 .098 .106 .104 .107 .105 .105 .106 0.028 .030 .032 .036 .039 .032 .028 .024 .027 .029 .027 .026 .024 .025 .024 .025 .026 .026 .027 .028 .029 .030 .029 .029 .029 Corporate profits with inventory valuation and capital consumption adjustments 4 Total 0.128 .114 .107 .090 .068 .081 .091 .116 .131 .146 .094 .098 .109 .116 .119 .119 .125 .134 .127 .136 .147 .143 .153 .142 .146 Taxes on corporate income 0.036 .034 .034 .032 .021 .018 .025 .033 .043 .047 .025 .028 .030 .033 .035 .034 .041 .042 .044 .045 .046 .047 .049 .045 .046 Profits after tax 5 0.092 .080 .073 .058 .047 .063 .066 .083 .088 .100 .069 .070 .080 .083 .084 .086 .083 .092 .084 .091 .101 .096 .105 .097 .100 3 Less subsidies plus business current transfer payments. profits from current production. inventory valuation and capital consumption adjustments. Source: Department of Commerce, Bureau of Economic Analysis. 4 Unit 5 With 3 VerDate Aug 31 2005 01:19 Jul 12, 2007 Jkt 036496 PO 00000 Frm 00003 Fmt 3401 Sfmt 3401 E:\HR\OC\ECOIND.003 ECOIND NATIONAL INCOME [Billions of dollars; quarterly data at seasonally adjusted annual rates] Proprietors’ income 1 National income Period 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2003: 2004: 2005: 2006: 2007: ............. ............. ............. ............. ............. ............. ............. ............. ............. ............. III ..... IV ..... I ........ II ...... III ..... IV ..... I ........ II ...... III ..... IV ..... I ........ II ...... III ..... IV ..... I r ....... 1 With Compensation of employees 7,292.2 7,752.8 8,236.7 8,795.2 8,979.8 9,229.3 9,632.3 10,255.9 10,811.8 11,711.0 9,699.3 9,885.4 10,084.3 10,207.0 10,243.5 10,488.6 10,702.3 10,795.4 10,643.2 11,106.2 11,551.3 11,611.5 11,733.7 11,947.6 12,065.8 4,661.7 5,019.4 5,357.1 5,782.7 5,942.1 6,091.2 6,325.4 6,650.3 7,030.3 7,498.4 6,365.8 6,444.3 6,521.9 6,590.2 6,689.6 6,799.4 6,889.6 6,953.7 7,093.6 7,184.4 7,400.3 7,425.5 7,489.3 7,678.7 7,750.6 Farm 34.2 29.4 28.6 22.7 19.7 10.6 29.2 36.2 30.2 22.6 32.1 32.5 38.1 39.5 32.9 34.3 33.9 28.7 29.7 28.7 23.9 17.5 21.7 27.3 31.7 Nonfarm 541.8 598.4 649.7 705.7 752.2 757.8 782.1 874.9 940.4 992.5 791.5 808.3 839.4 870.6 882.2 907.3 918.9 937.1 937.7 968.1 984.4 994.3 993.2 998.0 1,007.5 Corporate profits with inventory valuation and capital consumption adjustments Rental income of persons with capital consumption adjustment Profits with inventory valuation adjustment and without capital consumption adjustment Total 128.8 137.5 147.3 150.3 167.4 152.9 133.0 127.0 72.8 77.4 116.3 147.6 140.1 132.0 112.7 123.4 118.5 102.8 ¥11.5 81.5 76.8 71.4 78.3 83.1 85.3 868.5 801.6 851.3 817.9 767.3 886.3 993.1 1,182.6 1,330.7 1,615.7 1,016.2 1,076.5 1,158.1 1,183.3 1,154.0 1,234.9 1,320.0 1,342.9 1,266.3 1,393.5 1,569.1 1,591.8 1,653.3 1,648.4 1,671.4 Total Profits before tax 812.3 738.5 776.8 759.3 719.2 766.2 894.5 1,104.5 1,486.1 1,776.6 912.9 983.6 1,061.7 1,097.2 1,086.9 1,172.1 1,453.1 1,487.4 1,444.9 1,559.1 1,717.7 1,752.6 1,815.8 1,820.2 1,828.8 798.2 718.3 775.9 773.4 707.9 768.4 908.1 1,144.3 1,518.7 1,810.9 918.3 1,003.5 1,091.7 1,144.7 1,125.5 1,215.2 1,492.3 1,508.3 1,475.8 1,598.3 1,740.6 1,811.5 1,854.0 1,837.6 1,861.6 inventory valuation and capital consumption adjustments. Inventory valuation adjustment 14.1 20.2 1.0 ¥14.1 11.3 ¥2.2 ¥13.6 ¥39.8 ¥32.6 ¥34.4 ¥5.3 ¥19.9 ¥30.0 ¥47.5 ¥38.6 ¥43.1 ¥39.2 ¥21.0 ¥30.9 ¥39.2 ¥22.9 ¥58.9 ¥38.2 ¥17.5 ¥32.8 Capital consumption adjustment Net interest and miscellaneous payments Taxes on production and imports 56.2 63.1 74.5 58.6 48.1 120.1 98.7 78.1 ¥155.5 ¥160.9 103.3 92.9 96.4 86.0 67.1 62.8 ¥133.1 ¥144.5 ¥178.6 ¥165.6 ¥148.6 ¥160.8 ¥162.4 ¥171.7 ¥157.4 415.6 487.1 495.4 559.0 566.3 520.9 524.7 485.1 483.4 509.3 526.4 513.7 501.8 493.4 475.7 469.4 483.7 477.1 482.9 490.0 514.8 513.2 498.6 510.4 509.0 612.0 639.8 674.0 708.9 728.6 762.8 807.2 864.0 922.4 965.1 812.9 828.0 845.4 858.2 867.2 885.2 901.6 920.2 930.2 937.3 952.5 966.4 968.6 972.9 981.6 Less: Subsidies Business current transfer payments Current surplus of government enterprises 32.9 35.4 44.2 44.3 55.3 38.4 47.9 44.7 57.3 52.5 46.5 47.3 43.7 42.8 44.3 47.8 52.3 55.6 58.1 63.1 55.1 52.3 51.8 51.0 50.1 49.9 64.7 67.4 87.1 92.8 84.3 83.8 85.5 74.2 92.6 84.1 83.3 85.4 86.1 79.1 91.2 97.6 99.9 .2 99.1 93.8 93.1 92.8 90.8 92.4 12.6 10.3 10.1 5.3 ¥1.4 .9 1.7 ¥5.0 ¥15.4 ¥9.9 .5 ¥1.5 ¥2.3 ¥3.6 ¥5.6 ¥8.6 ¥9.1 ¥11.3 ¥27.7 ¥13.3 ¥9.2 ¥9.4 ¥10.2 ¥10.9 ¥13.4 Source: Department of Commerce, Bureau of Economic Analysis. REAL PERSONAL CONSUMPTION EXPENDITURES [Billions of chained (2000) dollars, except as noted; quarterly data at seasonally adjusted annual rates] Durable goods Total personal consumption expenditures Period 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2003: 2004: 2005: 2006: hmoore on PRODPC68 with HMECOIND 2007: ............... ............... ............... ............... ............... ............... ............... ............... ............... ............... III ....... IV ........ I .......... II ......... III ....... IV ........ I .......... II ......... III ....... IV ........ I .......... II ......... III ....... IV ........ I r ......... 5,831.8 6,125.8 6,438.6 6,739.4 6,910.4 7,099.3 7,295.3 7,577.1 7,841.2 8,091.4 7,352.9 7,394.3 7,479.8 7,534.4 7,607.1 7,687.1 7,739.4 7,819.8 7,895.3 7,910.2 8,003.8 8,055.0 8,111.2 8,195.9 8,280.7 Total durable goods 646.9 720.3 804.6 863.3 900.7 964.8 1,020.6 1,085.7 1,145.3 1,202.9 1,049.6 1,051.4 1,067.0 1,071.4 1,093.9 1,110.3 1,116.8 1,150.8 1,175.9 1,137.9 1,190.5 1,190.3 1,208.8 1,221.9 1,247.7 Furniture and household equipment Motor vehicles and parts 304.7 339.0 372.4 386.5 405.8 429.0 442.1 450.4 452.9 447.4 454.8 446.4 449.0 444.7 451.3 456.5 447.7 463.0 474.6 426.3 445.1 443.7 452.9 447.8 460.8 216.3 244.7 280.7 312.9 331.8 364.3 397.8 446.0 490.6 550.5 410.0 419.1 430.3 440.1 453.0 460.8 471.2 482.0 497.7 511.5 538.5 542.9 551.7 569.1 581.7 Nondurable goods Other 127.3 137.6 151.7 163.9 163.2 172.4 183.2 195.6 212.6 224.5 187.5 189.9 192.6 192.9 196.7 200.3 20.7 214.2 213.1 216.3 224.6 222.5 223.4 227.5 228.3 Total nondurable goods 1,725.3 1,794.4 1,876.6 1,947.2 1,986.7 2,037.1 2,103.0 2,179.2 2,276.8 2,362.0 2,123.0 2,132.5 2,155.3 2,164.3 2,184.0 2,213.1 2,241.5 2,268.4 2,287.6 2,309.6 2,342.8 2,351.1 2,360.1 2,394.0 2,413.2 Food 845.2 865.6 893.6 925.2 940.2 954.6 977.7 1,011.0 1,065.7 1,110.9 985.3 985.8 999.6 1,003.7 1,011.0 1,029.6 1,043.7 1,058.5 1,074.9 1,085.7 1,103.4 1,108.8 1,106.8 1,124.5 1,128.4 1 Includes other items, not shown separately. NOTE.—Because of the formula used for calculating real GDP, the chained (2000) dollar estimates for the detailed components do not add to the chained-dollar value of GDP or to any intermediate aggregates. Clothing and shoes 246.0 263.1 282.7 297.7 303.7 318.3 334.2 350.9 372.7 392.5 340.8 340.1 349.8 345.5 351.1 357.2 362.8 371.1 373.9 383.1 391.1 387.4 392.6 399.1 406.7 Gasoline and oil 162.8 170.3 176.3 175.7 178.3 181.9 183.2 186.0 185.9 185.1 183.9 185.2 186.0 186.1 185.3 186.4 188.7 186.7 184.2 183.9 183.9 183.5 186.6 186.4 187.4 Services Fuel oil and coal 16.9 16.0 16.4 15.8 15.2 15.5 15.4 14.6 13.7 12.6 15.4 15.8 15.0 14.8 14.8 14.0 14.4 14.1 13.6 12.8 12.2 12.9 12.3 13.0 14.7 Other 456.6 481.1 508.6 532.9 549.2 567.1 593.2 618.5 643.9 671.1 598.6 606.5 606.5 615.2 623.8 628.4 634.3 642.2 646.7 652.4 662.6 668.3 671.5 682.2 687.4 Total services 1 3,468.0 3,615.0 3,758.0 3,928.8 4,023.2 4,100.4 4,178.8 4,323.9 4,436.6 4,550.4 4,190.7 4,220.2 4,268.2 4,308.4 4,341.5 4,377.4 4,395.3 4,420.0 4,454.5 4,476.7 4,494.5 4,535.4 4,566.6 4,605.2 4,648.6 01:19 Jul 12, 2007 Jkt 036496 PO 00000 Frm 00004 Fmt 3401 922.5 948.8 978.6 1,006.5 1,033.7 1,042.1 1,051.9 1,091.6 1,122.6 1,148.7 1,054.7 1,064.6 1,076.8 1,087.4 1,096.9 1,105.3 1,112.7 1,120.0 1,126.4 1,131.2 1,137.6 1,144.5 1,151.7 1,160.8 1,167.5 Source: Department of Commerce, Bureau of Economic Analysis. 4 VerDate Aug 31 2005 Housing Sfmt 3401 E:\HR\OC\ECOIND.004 ECOIND Medical care 942.8 970.7 989.0 1,026.8 1,075.2 1,136.6 1,180.8 1,217.3 1,260.9 1,305.0 1,184.2 1,191.0 1,199.1 1,210.8 1,224.2 1,235.1 1,243.4 1,253.8 1,267.5 1,279.0 1,292.6 1,300.9 1,307.6 1,319.0 1,333.0 Retail sales of new passenger cars and light trucks (millions of units) 15.1 15.5 16.9 17.3 17.1 16.8 16.6 16.9 16.9 16.5 17.2 16.8 16.6 16.6 17.0 17.2 16.6 17.3 18.0 16.0 16.9 16.3 16.6 16.3 16.5 SOURCES OF PERSONAL INCOME Personal income rose $47.3 billion (annual rate) in May following a decrease of $27.2 billion in April. Wages and salaries rose $28.1 billion in May following a decrease of $32.8 billion in April. [Billions of dollars; monthly data at seasonally adjusted annual rates] Compensation of employees, received Period 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2006: ................. ................. ................. ................. ................. ................. ................. ................. ................. ................. May ....... June ...... July ....... Aug ....... Sept ....... Oct ........ Nov ....... Dec ........ 2007: Jan r ....... Feb r ....... Mar r ...... Apr r ....... May p ..... 1 With 2 With Total personal income Total 6,915.1 7,423.0 7,802.4 8,429.7 8,724.1 8,881.9 9,163.6 9,731.4 10,239.2 10,891.2 10,795.3 10,842.2 10,892.5 10,937.1 10,988.7 11,050.1 11,089.5 11,150.2 11,274.0 11,348.0 11,436.5 11,409.3 11,456.6 4,664.6 5,020.1 5,352.0 5,782.7 5,942.1 6,091.2 6,310.4 6,665.3 7,030.3 7,485.9 7,406.8 7,434.7 7,467.9 7,480.0 7,519.8 7,588.3 7,625.3 7,672.4 7,761.7 7,794.8 7,845.2 7,813.5 7,846.3 Wage and salary disbursements 3,877.6 4,183.4 4,466.3 4,829.2 4,942.8 4,980.9 5,112.7 5,392.1 5,664.8 6,031.1 5,963.5 5,985.7 6,011.6 6,019.0 6,052.3 6,111.6 6,142.4 6,182.7 6,257.7 6,286.5 6,331.6 6,298.8 6,326.9 Supplements to wages and salaries 787.0 836.7 885.7 953.4 999.3 1,110.3 1,197.7 1,273.2 1,365.5 1,454.9 1,443.3 1,449.0 1,456.3 1,461.1 1,467.5 1,476.6 1,482.9 1,489.7 1,504.0 1,508.2 1,513.6 1,514.7 1,519.5 Proprietors’ income 1 Farm 34.2 29.4 28.6 22.7 19.7 10.6 29.2 36.2 30.2 22.6 17.5 14.6 17.1 21.5 26.4 28.4 28.6 24.9 28.3 31.7 35.1 30.9 27.3 inventory valuation and capital consumption adjustments. capital consumption adjustment. mainly of social insurance benefits to persons. Nonfarm Personal income receipts on assets Rental income of persons 2 541.8 598.4 649.7 705.7 752.2 757.8 782.1 874.9 940.4 992.5 997.3 996.1 992.9 995.7 991.0 995.5 996.7 1,001.6 1,002.6 1,008.8 1,010.9 1,012.8 1,017.7 128.8 137.5 147.3 150.3 167.4 152.9 133.0 127.0 72.8 77.4 71.8 68.2 73.4 78.1 83.4 82.8 83.5 83.1 84.0 85.0 86.7 87.5 88.4 Total Personal interest income 1,181.7 1,283.2 1,264.2 1,387.0 1,380.0 1,333.2 1,336.6 1,427.9 1,519.4 1,656.3 1,647.3 1,670.2 1,676.7 1,683.5 1,690.6 1,691.0 1,691.6 1,692.1 1,712.8 1,734.1 1,756.4 1,763.7 1,771.0 848.7 933.2 928.6 1,011.0 1,011.0 936.1 914.1 890.8 945.0 1,016.7 1,019.2 1,035.6 1,035.7 1,035.8 1,035.9 1,029.4 1,022.8 1,016.2 1,030.6 1,045.0 1,059.5 1,059.2 1,058.9 Personal dividend income 333.0 349.9 335.6 376.1 369.0 397.2 422.6 537.1 574.4 639.6 628.2 634.6 641.0 647.7 654.6 661.6 668.8 675.9 682.2 689.0 696.9 704.5 712.1 Personal current transfer receipts 3 951.2 978.6 1,022.1 1,084.0 1,193.9 1,286.2 1,351.0 1,426.5 1,526.6 1,602.2 1,591.1 1,597.8 1,608.0 1,622.5 1,625.5 1,621.5 1,625.1 1,643.1 1,671.5 1,684.8 1,699.6 1,693.7 1,702.6 Less: Contributions for government social insurance 587.2 624.2 661.4 702.7 731.1 750.0 778.6 826.4 880.6 945.7 936.6 939.4 943.4 944.2 948.0 957.3 961.3 967.1 986.8 991.2 997.5 992.8 996.8 Source: Department of Commerce, Bureau of Economic Analysis. 5 VerDate Aug 31 2005 01:19 Jul 12, 2007 Jkt 036496 PO 00000 Frm 00005 Fmt 3401 Sfmt 3401 E:\HR\OC\ECOIND.005 ECOIND g:\graphics\eecoind.005 hmoore on PRODPC68 with HMECOIND 3 Consists DISPOSITION OF PERSONAL INCOME According to revised estimates, per capita disposable personal income in chained (2000) dollars rose at an annual rate of 3.9 percent in the first quarter of 2007. Personal income Period Less: Personal current taxes Equals: Disposable personal income Less: Personal outlays 1 Equals: Personal saving Disposable personal income in billions of chained (2000) dollars Per capita disposable personal income Current dollars Billions of dollars 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 ............ 6,915.1 ............ 7,423.0 ............ 7,802.4 ............ 8,429.7 ............ 8,724.1 ............ 8,881.9 ............ 9,163.6 ............ 9,731.4 ............ 10,239.2 ............ 10,891.2 926.3 1,027.0 1,107.5 1,235.7 1,237.3 1,051.8 1,001.1 1,049.8 1,203.1 1,362.1 5,988.8 6,395.9 6,695.0 7,194.0 7,486.8 7,830.1 8,162.5 8,681.6 9,036.1 9,529.1 Chained (2000) dollars Per capita personal consumption expenditures Current dollars Chained (2000) dollars Dollars 5,770.5 6,119.1 6,536.4 7,025.6 7,354.5 7,645.3 7,987.7 8,507.2 9,070.9 9,625.5 218.3 276.8 158.6 168.5 132.3 184.7 174.9 174.3 ¥34.8 ¥96.4 6,295.8 6,663.9 6,861.3 7,194.0 7,333.3 7,562.2 7,729.9 8,010.8 8,104.6 8,318.6 21,940 23,161 23,968 25,479 26,236 27,157 28,031 29,531 30,440 31,794 Percent change in real per capita disposable personal income Saving as percent of disposable personal income Population, including Armed Forces overseas (thousands) 2 Percent 23,065 24,131 24,564 25,479 25,698 26,228 26,545 27,250 27,302 27,755 20,323 21,291 22,491 23,869 24,723 25,494 26,455 27,932 29,450 30,926 21,365 22,183 23,050 23,869 24,216 24,622 25,053 25,774 26,415 26,997 2.3 4.6 1.8 3.7 .9 2.1 1.2 2.7 .2 1.7 3.6 4.3 2.4 2.3 1.8 2.4 2.1 2.0 ¥.4 ¥1.0 272,958 276,154 279,328 282,351 285,365 288,330 291,194 293,978 296,852 299,715 26,770 26,812 27,012 27,110 27,226 27,647 27,307 27,276 27,167 27,462 27,714 27,548 27,698 28,061 28,331 26,694 26,874 27,373 27,755 28,082 28,515 28,805 29,262 29,768 29,961 30,401 30,831 31,149 31,319 31,846 25,220 25,296 25,536 25,664 25,846 26,049 26,167 26,378 26,565 26,546 26,800 26,912 27,031 27,244 27,466 5.2 .6 3.0 1.5 1.7 6.3 ¥4.8 ¥.5 ¥1.6 4.4 3.7 ¥2.4 2.2 5.3 3.9 2.3 2.2 2.1 2.0 1.6 2.3 .6 ¥.3 ¥1.5 ¥.3 ¥.3 ¥1.4 ¥1.4 ¥.9 ¥.7 291,551 292,307 292,915 293,572 294,322 295,102 295,773 296,445 297,206 297,985 298,651 299,312 300,064 300,833 301,487 2003: III .... IV .... 2004: I ....... II ..... III .... IV .... 2005: I ....... II ..... III .... IV .... 2006: I ....... II ..... III .... IV .... 2007: I r ..... 9,203.6 9,341.3 9,497.7 9,640.5 9,767.9 10,019.4 10,048.8 10,161.5 10,262.7 10,483.7 10,721.4 10,807.3 10,939.4 11,096.6 11,352.9 942.6 1,015.4 1,016.0 1,033.4 1,061.6 1,088.2 1,157.9 1,191.8 1,215.0 1,247.6 1,332.6 1,361.0 1,362.5 1,392.3 1,449.4 8,261.0 8,326.0 8,481.6 8,607.1 8,706.3 8,931.2 8,890.9 8,969.7 9,047.7 9,236.1 9,388.8 9,446.2 9,577.0 9,704.3 9,903.5 8,067.0 194.0 8,143.5 182.5 8,302.7 178.9 8,438.7 168.3 8,565.1 141.2 8,722.3 208.9 8,838.5 52.5 9,000.4 ¥30.8 9,180.3 ¥132.6 9,264.5 ¥28.5 9,418.5 ¥29.7 9,577.0 ¥130.8 9,710.0 ¥133.0 9,796.5 ¥92.2 9,970.2 ¥66.8 7,804.8 7,837.3 7,912.4 7,958.8 8,013.3 8,158.8 8,076.6 8,085.8 8,074.1 8,183.3 8,276.8 8,245.4 8,311.0 8,441.7 8,541.5 1 Includes personal consumption expenditures, personal interest payments (nonmortgage), and personal current transfer payments. 2 Annual data are averages of quarterly data, which are averages for the period. 28,335 28,484 28,956 29,318 29,581 30,265 30,060 30,257 30,443 30,995 31,437 31,560 31,916 32,258 32,849 Source: Department of Commerce (Bureau of Economic Analysis and Bureau of the Census). 6 VerDate Aug 31 2005 01:19 Jul 12, 2007 Jkt 036496 PO 00000 Frm 00006 Fmt 3401 Sfmt 3401 E:\HR\OC\ECOIND.006 ECOIND g:\graphics\eecoind.006 hmoore on PRODPC68 with HMECOIND Seasonally adjusted annual rates FARM INCOME According to the preliminary forecast for 2007, gross farm income is forecast at $318.0 billion, and net farm income at $66.6 billion. [Billions of dollars; quarterly data at seasonally adjusted annual rates] Income of farm operators from farming Gross farm income Cash marketing receipts Total 1 Total hmoore on PRODPC68 with HMECOIND 1998 ................................ 1999 ................................ 2000 ................................ 2001 ................................ 2002 ................................ 2003 ................................ 2004 ................................ 2005 ................................ 2006 ................................ 2007 p .............................. 2005: I .......................... II ......................... III ........................ IV ........................ 2006: I .......................... II ......................... III ........................ IV ........................ 2007: I p ......................... II p ........................ III p ...................... IV p ....................... 232.6 234.9 244.4 252.7 233.6 260.9 296.2 299.8 298.4 318.0 337.4 287.4 278.4 296.0 312.4 283.2 294.0 304.1 336.7 306.5 314.2 314.5 Livestock and products 196.5 187.8 192.0 200.1 195.0 215.5 237.9 238.9 242.7 258.7 251.0 241.5 232.5 230.7 241.1 238.5 247.0 244.3 264.3 255.6 261.5 253.3 94.2 95.7 99.6 106.7 94.0 105.6 123.6 125.0 121.2 125.2 125.3 126.1 124.6 123.9 122.6 115.1 122.7 124.3 125.8 126.3 126.4 122.3 1 Cash marketing receipts, Government payments, value of changes in inventories, other farm related cash income, and nonmoney income produced by farms including imputed rent of operator residences. 2 Crop receipts include proceeds received from commodities placed under Commodity Credit Corporation loans. 3 Physical changes in beginning and ending year inventories of crop and livestock commodities valued at weighted average market prices during the period. Value of inventory changes 3 Crops 2 102.2 92.1 92.4 93.4 101.0 109.9 114.3 114.0 121.6 133.5 125.7 115.5 107.9 106.7 118.5 123.5 124.3 120.0 138.5 129.3 135.1 131.0 ¥0.6 ¥.2 1.6 1.1 ¥3.4 ¥2.4 11.6 .4 ¥.8 4.3 .4 .4 .3 .3 ¥.8 ¥.8 ¥.8 ¥.8 4.4 4.3 4.4 4.2 Direct Government payments 4 Production expenses 12.4 21.5 23.2 22.4 12.4 16.5 13.0 24.3 16.3 12.4 48.0 9.0 10.4 30.1 32.1 6.0 7.0 20.1 24.5 4.6 5.3 15.3 185.5 187.2 193.1 197.1 193.4 200.4 210.8 226.0 237.8 251.3 237.4 228.4 219.9 218.1 236.2 233.7 242.0 239.4 256.8 248.4 254.1 246.1 Net farm income 47.1 47.7 51.3 55.6 40.2 60.4 85.4 73.8 60.6 66.6 100.0 59.0 58.5 77.8 76.1 49.5 52.0 64.7 79.9 58.1 60.1 68.4 4 Includes only Government payments made directly to farmers. NOTE.—Data for 2006 and 2007 are forecasts. Source: Department of Agriculture. 7 VerDate Aug 31 2005 01:19 Jul 12, 2007 Jkt 036496 PO 00000 Frm 00007 Fmt 3401 Sfmt 3401 E:\HR\OC\ECOIND.007 ECOIND g:\graphics\eecoind.007 Period CORPORATE PROFITS In the first quarter of 2007, according to revised estimates, corporate profits before tax rose $24.0 billion (annual rate) and profits after tax rose $20.5 billion. [Billions of dollars; quarterly data at seasonally adjusted annual rates] Profits (before tax) with inventory valuation adjustment 1 Profits after tax Domestic industries Nonfinancial Total 2 hmoore on PRODPC68 with HMECOIND Total Financial Total 3 Manufacturing Utilities Wholesale Retail Total Net dividends Undistributed profits Inventory valuation adjustment 1997 .......... 1998 .......... 812.3 738.5 701.4 635.5 193.0 165.9 508.4 469.6 209.0 173.5 ................ ................ 47.6 52.3 64.2 73.4 798.2 718.3 246.1 248.3 552.1 470.0 334.5 351.6 217.6 118.3 14.1 20.2 1998 4 ....... 1999 .......... 2000 .......... 2001 .......... 2002 .......... 2003 .......... 2004 .......... 2005 .......... 2006 .......... 2003: III .. IV .. 2004: I ..... II ... III .. IV .. 2005: I ..... II ... III .. IV .. 2006: I ..... II ... III .. IV .. 2007: I r ... 738.5 776.8 759.3 719.2 766.2 894.5 1,104.5 1,486.1 1,776.6 912.9 983.6 1,061.7 1,097.2 1,086.9 1,172.1 1,453.1 1,487.4 1,444.9 1,559.1 1,717.7 1,752.6 1,815.8 1,820.2 1,828.8 635.5 655.3 613.6 549.5 610.4 729.0 928.2 1,289.1 1,533.4 749.8 793.0 876.9 927.4 904.3 1,004.3 1,270.0 1,302.2 1,221.5 1,362.8 1,491.6 1,512.7 1,581.1 1,548.3 1,536.7 165.4 194.3 200.2 227.6 276.4 317.3 344.2 389.0 498.7 326.4 333.8 354.3 353.9 288.5 380.1 433.7 391.7 317.4 413.3 463.9 508.2 500.1 522.7 498.9 470.1 461.1 413.4 322.0 334.0 411.8 584.0 900.1 1,034.7 423.5 459.2 522.7 573.5 615.8 624.2 836.3 910.5 904.1 949.4 1,027.7 1,004.5 1,081.0 1,025.6 1,037.7 157.0 150.6 144.3 52.6 48.2 76.0 150.2 254.8 311.7 77.0 108.2 127.7 147.4 155.0 170.7 235.5 264.0 260.7 258.9 300.7 289.9 331.9 324.5 346.1 32.7 33.1 24.4 24.7 10.6 11.6 16.2 30.3 48.6 11.0 13.2 13.6 15.5 15.7 20.0 29.5 30.9 22.4 38.3 39.7 46.8 52.8 54.9 52.5 53.2 55.5 59.7 52.1 49.3 55.2 69.9 97.6 106.0 61.0 65.4 64.5 64.8 81.2 69.3 88.2 102.1 94.1 105.9 107.2 98.3 125.1 93.7 103.3 66.4 65.2 59.6 71.0 79.4 86.8 89.3 113.7 130.1 89.5 87.3 96.6 91.5 82.5 86.7 102.6 107.3 115.9 129.1 123.0 121.2 131.3 145.0 138.7 718.3 775.9 773.4 707.9 768.4 908.1 1,144.3 1,518.7 1,810.9 918.3 1,003.5 1,091.7 1,144.7 1,125.5 1,215.2 1,492.3 1,508.3 1,475.8 1,598.3 1,740.6 1,811.5 1,854.0 1,837.6 1,861.6 248.3 258.6 265.2 204.1 192.6 243.3 300.1 399.3 474.9 245.5 264.7 281.3 303.0 297.8 318.1 400.9 392.8 378.9 424.6 456.9 476.1 490.6 476.2 479.7 470.0 517.2 508.2 503.8 575.8 664.8 844.2 1,119.4 1,336.0 672.7 738.9 810.3 841.7 827.7 897.1 1,091.3 1,115.5 1,096.9 1,173.7 1,283.7 1,335.4 1,363.4 1,361.5 1,382.0 351.6 337.4 377.9 370.9 399.2 424.7 539.5 576.9 642.2 427.1 442.8 475.5 503.0 529.0 650.5 554.3 568.2 584.0 601.0 615.7 631.1 650.4 671.4 692.0 118.3 179.9 130.3 132.9 176.6 240.1 304.7 542.5 693.8 245.7 296.0 334.9 338.7 298.7 246.6 537.0 547.4 513.0 572.7 668.0 704.3 713.0 690.1 690.0 20.2 1.0 ¥14.1 11.3 ¥2.2 ¥13.6 ¥39.8 ¥32.6 ¥34.4 ¥5.3 ¥19.9 ¥30.0 ¥47.5 ¥38.6 ¥43.1 ¥39.2 ¥21.0 ¥30.9 ¥39.2 ¥22.9 ¥58.9 ¥38.2 ¥17.5 ¥32.8 1 See p. 4 for profits with inventory valuation and capital consumption adjustments. rest of the world, not shown separately. industries not shown separately. 2 Includes 3 Includes 4 Data by industry beginning 1998 are based on the 1997 North American Industry Classification System (NAICS) and are not directly comparable with data for prior years shown, which are based on the 1987 Standard Industrial Classification (SIC). Source: Department of Commerce, Bureau of Economic Analysis. 8 VerDate Aug 31 2005 01:19 Jul 12, 2007 Jkt 036496 PO 00000 Frm 00008 Fmt 3401 Sfmt 3401 E:\HR\OC\ECOIND.008 ECOIND g:\graphics\eecoind.008 Period Profits before tax Taxes on corporate income REAL GROSS PRIVATE DOMESTIC INVESTMENT In the first quarter of 2007, according to revised estimates, nonresidential fixed investment in chained (2000) dollars rose $8.6 billion (annual rate) and residential investment fell $22.6 billion. There was a decrease of $4.2 billion in inventories following an increase of $22.4 billion in the fourth quarter. [Billions of chained (2000) dollars; quarterly data at seasonally adjusted annual rates] Fixed investment Period hmoore on PRODPC68 with HMECOIND 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 Change in private inventories Nonresidential Total Total Equipment and software Residential Structures Total Nonfarm ................................................................................. ................................................................................. ................................................................................. ................................................................................. ................................................................................. ................................................................................. ................................................................................. ................................................................................. ................................................................................. ................................................................................. 1,387.7 1,524.1 1,642.6 1,735.5 1,598.4 1,557.1 1,613.1 1,770.6 1,866.3 1,945.6 1,320.6 1,455.0 1,576.3 1,679.0 1,629.4 1,544.6 1,596.9 1,713.9 1,842.0 1,894.7 934.2 1,037.8 1,133.3 1,232.1 1,180.5 1,071.5 1,081.8 1,145.8 1,223.8 1,312.4 280.1 294.5 293.2 313.2 306.1 253.8 243.5 248.7 251.5 274.0 658.3 745.6 840.2 918.9 874.2 820.2 843.1 904.2 984.9 1,048.6 388.6 418.3 443.6 446.9 448.5 469.9 509.4 559.9 608.0 582.2 71.2 72.6 68.9 56.5 ¥31.7 12.5 14.3 53.4 19.6 43.2 68.5 71.2 71.5 57.8 ¥31.8 15.2 14.0 47.0 19.6 40.6 2003: III ......................................................................... IV .......................................................................... 1,639.7 1,676.5 1,626.7 1,648.9 1,098.8 1,106.5 246.0 243.1 857.8 869.5 521.8 535.2 10.5 25.0 12.0 28.1 2004: I ............................................................................ II ........................................................................... III ......................................................................... IV .......................................................................... 1,696.4 1,781.9 1,790.8 1,813.4 1,658.0 1,704.4 1,736.1 1,757.1 1,111.2 1,130.7 1,158.8 1,182.3 245.0 249.1 251.0 249.7 872.0 887.6 915.1 942.0 539.2 564.1 568.6 567.7 35.9 74.7 50.8 52.0 32.1 54.5 44.8 56.5 2005: I ............................................................................ II ........................................................................... III ......................................................................... IV .......................................................................... 1,849.6 1,832.6 1,855.9 1,927.0 1,790.6 1,835.8 1,864.2 1,877.3 1,199.7 1,214.8 1,232.4 1,248.2 253.0 251.7 247.1 254.2 956.5 974.8 1,000.6 1,007.6 582.8 609.9 620.4 618.9 55.2 ¥7.4 ¥12.7 43.5 54.9 ¥1.0 ¥14.0 38.6 2006: I ............................................................................ II ........................................................................... III ......................................................................... IV .......................................................................... 1,963.6 1,968.5 1,964.8 1,885.6 1,914.6 1,906.8 1,901.3 1,856.3 1,288.8 1,302.8 1,334.2 1,323.7 259.6 271.9 282.0 282.6 1,044.8 1,041.2 1,060.7 1,047.8 618.5 600.5 570.3 539.7 41.2 53.7 55.4 22.4 36.8 52.2 53.3 20.0 2007: I r ........................................................................... 1,838.8 1,838.1 1,332.3 258.9 1,052.2 517.1 ¥4.2 ¥7.5 NOTE.—See p. 10 for further detail on fixed investment by type. Because of the formula used for calculating real GDP, the chained (2000) dollar estimates for the detailed components do not add to the chained-dollar value of GDP or to any intermediate aggregates. Source: Department of Commerce, Bureau of Economic Analysis. 9 VerDate Aug 31 2005 01:19 Jul 12, 2007 Jkt 036496 PO 00000 Frm 00009 Fmt 3401 Sfmt 3401 E:\HR\OC\ECOIND.009 ECOIND g:\graphics\eecoind.009 Gross private domestic investment REAL PRIVATE FIXED INVESTMENT BY TYPE [Billions of chained (2000) dollars; quarterly data at seasonally adjusted annual rates] Nonresidential Residential Equipment and software Period 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2003: Total fixed investment Structures Information processing equipment and software Total nonresidential Structures Total Computers and peripheral equipment 1 Software Total Transportation equipment Other equipment Total residential Total 2 Single family Other Industrial equipment Equipment ........................... ........................... ........................... ........................... ........................... ........................... ........................... ........................... ........................... ........................... III ................... IV .................... 1,320.6 1,455.0 1,576.3 1,679.0 1,629.4 1,544.6 1,596.9 1,713.9 1,842.0 1,894.7 1,626.7 1,648.9 934.2 1,037.8 1,133.3 1,232.1 1,180.5 1,071.5 1,081.8 1,145.8 1,223.8 1,312.4 1,098.8 1,106.5 280.1 294.5 293.2 313.2 306.1 253.8 243.5 248.7 251.5 274.0 246.0 243.1 658.3 745.6 840.2 918.9 874.2 820.2 843.1 904.2 984.9 1,048.6 857.8 869.5 269.9 328.9 398.5 467.6 459.0 437.4 462.7 509.3 552.6 601.2 470.4 492.4 ............. ............. ............. ............. ............. ............. ............. ............. ............. ............. ............. ............. 108.8 129.4 157.2 176.2 173.8 169.7 177.3 195.0 206.2 219.3 180.6 186.3 127.3 143.2 158.0 190.0 181.7 161.1 167.1 180.7 193.6 209.2 168.7 177.0 143.0 148.1 147.9 159.2 145.7 134.5 138.4 132.7 143.5 152.2 138.9 132.8 135.9 145.4 167.7 160.8 142.8 126.0 113.8 128.8 145.4 145.7 116.8 113.5 115.8 125.7 126.7 131.2 126.9 122.9 130.4 137.6 147.3 157.1 133.8 135.5 388.6 418.3 443.6 446.9 448.5 469.9 509.4 559.9 608.0 582.2 521.8 535.2 382.4 411.9 436.6 439.5 441.1 462.2 501.2 550.9 598.5 572.5 513.5 526.7 196.6 218.1 234.2 236.8 237.1 246.3 272.6 305.0 336.3 310.7 276.9 293.6 6.1 6.4 7.0 7.4 7.4 7.7 8.1 9.0 9.4 9.9 8.3 8.5 2004: I ...................... II ..................... III ................... IV .................... 1,658.0 1,704.4 1,736.1 1,757.1 1,111.2 1,130.7 1,158.8 1,182.3 245.0 249.1 251.0 249.7 872.0 887.6 915.1 942.0 501.8 503.1 510.3 521.8 ............. ............. ............. ............. 191.3 192.2 195.8 200.7 181.5 182.9 179.1 179.2 130.6 129.4 134.7 136.1 111.7 123.7 134.3 145.3 134.4 136.1 139.0 141.1 539.2 564.1 568.6 567.7 530.5 555.2 559.4 558.4 294.8 306.0 310.2 308.7 8.7 8.9 9.1 9.3 2005: I ...................... II ..................... III ................... IV .................... 1,790.6 1,835.8 1,864.2 1,877.3 1,199.7 1,214.8 1,232.4 1,248.2 253.0 251.7 247.1 254.2 956.5 974.8 1,000.6 1,007.6 537.4 547.9 557.7 567.3 ............. ............. ............. ............. 201.7 205.7 208.0 209.5 189.3 191.5 196.0 197.5 140.4 138.4 144.9 150.4 141.4 144.6 152.3 143.2 141.3 148.0 148.8 151.2 582.8 609.9 620.4 618.9 573.5 600.4 610.8 609.2 321.1 334.7 342.6 346.6 9.3 9.4 9.4 9.7 2006: I ...................... II ..................... III ................... IV .................... 1,914.6 1,906.8 1,901.3 1,856.3 1,288.8 1,302.8 1,334.2 1,323.7 259.6 271.9 282.0 282.6 1,044.8 1,041.2 1,060.7 1,047.8 595.9 594.3 608.6 605.9 ............. ............. ............. ............. 215.6 217.8 221.0 222.6 211.6 206.7 211.3 207.1 149.0 153.9 153.9 151.9 152.2 142.7 147.3 140.5 154.3 157.1 158.6 158.3 618.5 600.5 570.3 539.7 608.5 590.6 560.6 530.2 345.1 327.1 300.8 269.7 10.0 9.9 9.8 9.8 2007: I r ..................... 1,838.1 1,332.3 285.9 1,052.2 631.4 ............. 227.2 214.9 150.6 136.5 149.0 517.1 507.6 248.2 9.9 1 For details on this component, see Survey of Current Business, Tables 5.3.6, 5.3.1 for growth rates, 5.3.2 for contributions, and 5.3.3 for quantity indexes. 2 Includes other items, not shown separately. NOTE.—Because of the formula used for calculating real GDP, the chained (2000) dollar estimates for the detailed components do not add to the chained-dollar value of GDP or to any intermediate aggregates. Source: Department of Commerce, Bureau of Economic Analysis. BUSINESS INVESTMENT [Billions of dollars] Capital expenditures By industry Period Total capital expenditures Total by industry Forestry, fishing Con- Manuand Min- Utili- strucfacagriing ties turtion culing tural services ProFor Real fesscomTransesional, Health panies portaFiscien- care withWhole- Retail tion Infor- nance tate and tific, and out 1 sale and maand Other and social emtrade trade waretion insur- rental and tech- assisployhousance leasnical tance ees ing ing services For companies with employees hmoore on PRODPC68 with HMECOIND 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 ............................ ............................ ............................ ............................ ............................ ............................ ............................ ............................ ............................ ............................ 807.1 .............. ........... ........ ......... .......... ........... ............ .......... ............ .......... .......... .......... .......... ........... ........... .......... 871.8 .............. ........... ........ ......... .......... ........... ............ .......... ............ .......... .......... .......... .......... ........... ........... .......... 970.9 896.5 0.9 40.4 36.0 26.9 203.6 29.2 57.3 51.3 96.5 118.2 85.2 22.3 47.1 81.7 74.4 1,047.0 974.6 1.7 30.6 42.8 23.1 196.4 32.4 64.1 57.3 122.8 130.1 100.6 29.5 51.3 91.8 72.3 1,161.0 1,089.9 1.5 42.5 61.3 25.0 214.8 33.6 69.8 59.9 160.2 133.7 92.5 34.1 52.2 108.9 71.2 1,109.0 1,052.3 1.5 51.3 82.8 24.8 192.8 30.0 66.9 57.8 144.8 131.1 82.7 30.5 52.9 102.5 56.7 997.9 917.5 1.9 42.5 65.5 24.8 157.2 26.8 59.3 47.1 88.2 128.4 94.5 25.9 59.3 96.1 80.4 975.0 886.8 1.9 50.5 54.6 23.2 149.1 26.0 65.9 44.5 80.5 120.8 88.0 24.7 61.2 96.2 88.2 1,042.1 953.2 2.1 51.3 50.4 28.6 156.7 32.3 72.2 46.1 83.5 153.6 91.6 26.7 64.6 93.6 88.9 1,145.9 1,063.7 2.7 66.8 58.4 30.1 165.2 40.5 73.8 56.6 91.3 161.6 103.2 33.3 73.8 106.4 82.2 1 Includes the following industries: Management of companies and enterprises; administrative and support and waste management; educational services; arts, entertainment, and recreation; accommodation and food services; and other services (except public administration). Also includes an item for structure and equipment expenditures serving multiple industry categories. NOTE.—Data from Annual Capital Expenditures. Industry data are based on the North American Industry Classification System (NAICS). Data shown in this table are capital expenditures for both new and used structures and equipment. Source: Department of Commerce, Bureau of the Census. 10 VerDate Aug 31 2005 01:19 Jul 12, 2007 Jkt 036496 PO 00000 Frm 00010 Fmt 3401 Sfmt 3401 E:\HR\OC\ECOIND.010 ECOIND EMPLOYMENT, UNEMPLOYMENT, AND WAGES STATUS OF THE LABOR FORCE In June, employment rose by 197,000 and unemployment rose by 114,000. [Thousands of persons 16 years of age and over, except as noted; monthly data seasonally adjusted except as noted by NSA] Civilian employment 1997 2 .................... 1998 2 .................... 1999 2 .................... 2000 2 .................... 2001 ..................... 2002 ...................... 2003 2 .................... 2004 2 .................... 2005 2 .................... 2006 2 .................... 2006: June .......... July ........... Aug ........... Sept ........... Oct ............ Nov ............ Dec ............ 2007: Jan 2 .......... Feb ............ Mar ........... Apr ............ May ........... June .......... Civilian noninstitutional population (NSA) Civilian labor force 203,133 205,220 207,753 212,577 215,092 217,570 221,168 223,357 226,082 228,815 228,671 228,912 229,167 229,420 229,675 229,905 230,108 230,650 230,834 231,034 231,253 231,480 231,713 136,297 137,673 139,368 142,583 143,734 144,863 146,510 147,401 149,320 151,428 151,370 151,558 151,734 151,818 152,052 152,449 152,775 152,974 152,784 152,979 152,587 152,762 153,072 Total Men 20 years and over Women 20 years and over Both sexes 16–19 years 129,558 131,463 133,488 136,891 136,933 136,485 137,736 139,252 141,730 144,427 144,386 144,330 144,618 144,906 145,337 145,623 145,926 145,957 145,919 146,254 145,786 145,943 146,140 66,284 67,135 67,761 69,634 69,776 69,734 70,415 71,572 73,050 74,431 74,233 74,105 74,421 74,868 74,924 75,088 75,235 75,158 75,138 75,323 75,313 75,380 75,312 56,613 57,278 58,555 60,067 60,417 60,420 61,402 61,773 62,702 63,834 63,901 64,029 64,118 63,978 64,252 64,333 64,491 64,654 64,703 64,912 64,502 64,701 64,855 6,661 7,051 7,172 7,189 6,740 6,332 5,919 5,907 5,978 6,162 6,253 6,197 6,079 6,060 6,161 6,202 6,200 6,145 6,078 6,019 5,970 5,862 5,972 1 Civilian labor force (or employment) as percent of civilian noninstitutional population; and unemployment as percent of civilian labor force. 2 Not strictly comparable with earlier data. NOTE.—Beginning January 2007 data reflect revised population controls and are not strictly comparable with earlier data. Men 20 years and over Total 6,739 6,210 5,880 5,692 6,801 8,378 8,774 8,149 7,591 7,001 6,984 7,228 7,116 6,912 6,715 6,826 6,849 7,017 6,865 6,724 6,801 6,819 6,933 2,882 2,580 2,433 2,376 3,040 3,896 4,209 3,791 3,392 3,131 3,087 3,234 3,195 2,954 3,012 3,036 3,100 3,226 3,237 3,129 3,146 3,144 3,190 Women 20 years and over Both sexes 16–19 years 2,585 2,424 2,285 2,235 2,599 3,228 3,314 3,150 3,013 2,751 2,743 2,843 2,738 2,776 2,599 2,691 2,641 2,707 2,564 2,576 2,581 2,580 2,619 1,271 1,205 1,162 1,081 1,162 1,253 1,251 1,208 1,186 1,119 1,154 1,151 1,183 1,182 1,104 1,099 1,108 1,083 1,064 1,020 1,075 1,095 1,124 Not in labor force Labor force participation rate Employment/ population ratio Unemployment rate 67.1 67.1 67.1 67.1 66.8 66.6 66.2 66.0 66.0 66.2 66.2 66.2 66.2 66.2 66.2 66.3 66.4 66.3 66.2 66.2 66.0 66.0 66.1 63.8 64.1 64.3 64.4 63.7 62.7 62.3 62.3 62.7 63.1 63.1 63.1 63.1 63.2 63.3 63.3 63.4 63.3 63.2 63.3 63.0 63.0 63.1 4.9 4.5 4.2 4.0 4.7 5.8 6.0 5.5 5.1 4.6 4.6 4.8 4.7 4.6 4.4 4.5 4.5 4.6 4.5 4.4 4.5 4.5 4.5 66,837 67,547 68,385 69,994 71,359 72,707 74,658 75,956 76,762 77,387 77,301 77,354 77,433 77,602 77,623 77,456 77,333 77,676 78,050 78,055 78,666 78,718 78,641 See Employment and Earnings for details on breaks in series. Source: Department of Labor, Bureau of Labor Statistics. 11 VerDate Aug 31 2005 01:19 Jul 12, 2007 Jkt 036496 PO 00000 Frm 00011 Fmt 3401 Sfmt 3401 E:\HR\OC\ECOIND.011 ECOIND g:\graphics\eecoind.011 hmoore on PRODPC68 with HMECOIND Period Percent 1 Unemployment SELECTED UNEMPLOYMENT RATES In June, the unemployment rate was unchanged from May at 4.5 percent. [Monthly data seasonally adjusted] Unemployment rate (percent of civilian labor force in group) By race or ethnicity 1 hmoore on PRODPC68 with HMECOIND Period All civilian workers 1997 ......................... 1998 ......................... 1999 ......................... 2000 ........................ 2001 ........................ 2002 ........................ 2003 ........................ 2004 ......................... 2005 ......................... 2006 ......................... 2006: June .............. July ............... Aug ............... Sept .............. Oct ................ Nov ............... Dec ............... 2007: Jan ............... Feb ............... Mar ............... Apr ............... May ............... June .............. Men 20 years and over Women 20 years and over 4.2 3.7 3.5 3.3 4.2 5.3 5.6 5.0 4.4 4.0 4.0 4.2 4.1 3.8 3.9 3.9 4.0 4.1 4.1 4.0 4.0 4.0 4.1 4.4 4.1 3.8 3.6 4.1 5.1 5.1 4.9 4.6 4.1 4.1 4.3 4.1 4.2 3.9 4.0 3.9 4.0 3.8 3.8 3.8 3.8 3.9 4.9 4.5 4.2 4.0 4.7 5.8 6.0 5.5 5.1 4.6 4.6 4.8 4.7 4.6 4.4 4.5 4.5 4.6 4.5 4.4 4.5 4.5 4.5 Both sexes 16–19 years White 16.0 14.6 13.9 13.1 14.7 16.5 17.5 17.0 16.6 15.4 15.6 15.7 16.3 16.3 15.2 15.1 15.2 15.0 14.9 14.5 15.3 15.7 15.8 4.2 3.9 3.7 3.5 4.2 5.1 5.2 4.8 4.4 4.0 4.1 4.1 4.1 3.9 3.9 3.9 4.0 4.1 4.0 3.8 3.9 3.9 4.0 1 Beginning in 2003, persons who selected this race group only. Prior to 2003, persons who reported more than one race were included in the group they identified as the main race. Persons whose ethnicity is identified as Hispanic or Latino may be of any race. By selected groups Black or African American Asian (NSA) Hispanic or Latino ethnicity 10.0 8.9 8.0 7.6 8.6 10.2 10.8 10.4 10.0 8.9 9.0 9.4 8.8 9.1 8.5 8.6 8.4 8.0 7.9 8.3 8.2 8.5 8.5 .......... .......... .......... 3.6 4.5 5.9 6.0 4.4 4.0 3.0 3.5 2.7 2.9 2.8 2.7 3.2 2.4 3.2 2.7 3.0 3.3 2.9 3.1 7.7 7.2 6.4 5.7 6.6 7.5 7.7 7.0 6.0 5.2 5.3 5.3 5.3 5.4 4.6 5.0 4.9 5.7 5.2 5.1 5.4 5.8 5.7 Married men, spouse present 01:19 Jul 12, 2007 Jkt 036496 PO 00000 Frm 00012 Fmt 3401 Full-time workers Part-time workers 8.1 7.2 6.4 5.9 6.6 8.0 8.5 8.0 7.8 7.1 7.2 7.4 6.7 6.8 6.5 6.9 6.2 6.6 6.5 6.7 6.2 6.3 6.8 4.8 4.3 4.1 3.8 4.7 5.9 6.1 5.6 5.0 4.5 4.5 4.7 4.6 4.5 4.3 4.4 4.4 4.5 4.4 4.4 4.4 4.4 4.5 5.5 5.3 5.0 4.8 5.1 5.2 5.5 5.3 5.4 5.1 5.2 5.4 5.1 5.1 5.1 5.0 4.8 5.0 4.9 4.5 5.0 4.9 4.6 2.7 2.4 2.2 2.0 2.7 3.6 3.8 3.1 2.8 2.4 2.5 2.5 2.5 2.3 2.3 2.3 2.5 2.5 2.7 2.5 2.5 2.6 2.4 NOTE.—Data relate to persons age 16 years and over. Source: Department of Labor, Bureau of Labor Statistics. 12 VerDate Aug 31 2005 Women who maintain families (NSA) Sfmt 3401 E:\HR\OC\ECOIND.012 ECOIND g:\graphics\eecoind.012 By sex and age SELECTED MEASURES OF UNEMPLOYMENT AND UNEMPLOYMENT INSURANCE PROGRAMS In June, the percentages of the unemployed who had been out of work for 5–14 weeks and for 27 weeks and over fell; the percentages for less than 5 weeks and for 15–26 weeks rose. The mean duration of unemployment rose to 16.8 weeks and the median duration fell to 8.2 weeks. [Monthly data seasonally adjusted, except as noted] Duration of unemployment Period Unemployment (thousands) Percent distribution Less than 5 weeks 5–14 weeks 15–26 weeks Reason for unemployment: percent distribution State programs Number of weeks 27 weeks and over Average (mean) Median Job losers 1 Job leavers Reentrants New entrants Insured unemployment Initial claims Insured unemployment, all regular programs (unadjusted) 2 1997 ........................................ 1998 ........................................ 1999 ........................................ 2000 ........................................ 2001 ........................................ 2002 ........................................ 2003 ........................................ 2004 ........................................ 2005 ........................................ 2006 ........................................ 2006: June ............................. July .............................. Aug .............................. Sept ............................. Oct ............................... Nov .............................. Dec ............................... 2007: Jan .............................. Feb .............................. Mar .............................. Apr ............................... May .............................. June ............................. 6,739 6,210 5,880 5,692 6,801 8,378 8,774 8,149 7,591 7,001 6,984 7,228 7,116 6,912 6,715 6,826 6,849 7,017 6,865 6,724 6,801 6,819 6,933 37.7 42.2 43.7 44.9 42.0 34.5 31.7 33.1 35.1 37.3 39.0 37.3 36.5 37.3 38.5 37.0 39.7 37.5 37.5 34.9 35.6 35.6 36.1 31.7 31.4 31.2 31.9 32.3 30.8 29.8 29.2 30.4 30.3 30.0 30.2 30.7 30.0 30.7 31.4 29.8 32.4 31.6 32.4 31.3 32.0 30.8 14.8 12.3 12.8 11.8 14.0 16.3 16.4 15.9 14.9 14.7 14.7 14.3 14.5 14.6 14.5 14.8 14.5 14.0 13.1 14.3 15.7 16.0 16.9 15.8 14.1 12.3 11.4 11.8 18.3 22.1 21.8 19.6 17.6 16.3 18.3 18.3 18.1 16.2 16.8 16.0 16.1 17.8 18.4 17.5 16.4 16.2 1 Beginning January 1994, job losers and persons who completed temporary jobs. 2 Includes State (50 States, District of Columbia, Puerto Rico, and Virgin Islands), ex-servicemen (UCX), and Federal (UCFE). Also includes Federal and State extended benefit programs. Does not include Railroad (RR) program, Federal supplemental compensation or Emergency Unemployment Compensation programs. 15.8 14.5 13.4 12.6 13.1 16.6 19.2 19.6 18.4 16.8 16.1 17.3 17.3 17.2 16.4 16.3 15.9 16.2 16.4 17.3 17.1 16.7 16.8 8.0 6.7 6.4 5.9 6.8 9.1 10.1 9.8 8.9 8.3 7.6 8.2 8.4 8.1 8.0 8.2 7.3 8.1 8.1 8.5 8.7 8.3 8.2 45.1 45.5 44.6 44.2 51.1 55.0 55.1 51.5 48.3 47.4 48.3 46.6 46.6 46.1 46.0 46.5 47.3 48.6 50.1 48.0 48.2 49.0 48.7 11.8 11.8 13.3 13.7 12.3 10.3 9.3 10.5 11.5 11.8 11.7 11.9 12.1 11.6 11.7 11.6 11.8 11.2 11.8 11.2 11.0 11.2 11.7 34.7 34.3 34.1 34.5 29.9 28.3 28.2 29.5 31.4 32.0 30.8 32.8 32.2 33.1 33.5 33.3 32.1 31.5 29.6 31.9 31.9 31.7 30.7 8.4 8.4 8.0 7.6 6.8 6.4 7.3 8.4 8.8 8.8 9.2 8.8 9.1 9.2 8.8 8.6 8.8 8.7 8.4 8.9 8.9 8.1 9.0 2,323 2,222 2,188 2,110 2,974 3,585 3,531 2,950 2,661 2,476 2,435 2,466 2,478 2,441 2,433 2,458 2,457 2,488 2,553 2,513 2,536 .............. .............. 323 321 298 301 404 407 404 345 328 313 309 313 317 315 314 325 320 311 337 317 327 r306 p318 2,366 2,257 2,219 2,141 3,007 3,619 3,569 2,995 2,706 2,518 2,169 2,637 2,265 2,090 2,281 2,218 2,630 3,159 3,101 2,738 2,830 2,238 ................. NOTE.—Data relate to persons age 16 years and over (except for insured unemployment and initial claims). Source: Department of Labor (Bureau of Labor Statistics and Employment and Training Administration). 13 VerDate Aug 31 2005 01:19 Jul 12, 2007 Jkt 036496 PO 00000 Frm 00013 Fmt 3401 Sfmt 3401 E:\HR\OC\ECOIND.013 ECOIND g:\graphics\eecoind.013 hmoore on PRODPC68 with HMECOIND Weekly average, thousands NONAGRICULTURAL EMPLOYMENT Total nonagricultural employment as measured by the payroll survey rose by 132,000 in June. [Thousands of wage and salary workers; 1 monthly data seasonally adjusted] Goods-producing industries ...................... ...................... ...................... ...................... ...................... ...................... ...................... ...................... ...................... ...................... June ........... July ............ Aug ............ Sept ........... Oct ............. Nov ............ Dec ............. 2007: Jan ............. Feb ............ Mar ............ Apr r ........... May r ........... June p ......... hmoore on PRODPC68 with HMECOIND 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2006: 122,776 125,930 128,993 131,785 131,826 130,341 129,999 131,435 133,703 136,174 136,030 136,252 136,438 136,636 136,745 136,941 137,167 137,329 137,419 137,594 137,716 137,906 138,038 Total 2 23,886 24,354 24,465 24,649 23,873 22,557 21,816 21,882 22,190 22,570 22,613 22,622 22,629 22,625 22,573 22,525 22,520 22,554 22,465 22,497 22,460 22,451 22,448 Construction 5,813 6,149 6,545 6,787 6,826 6,716 6,735 6,976 7,336 7,689 7,691 7,703 7,719 7,725 7,707 7,683 7,684 7,718 7,641 7,692 7,671 7,669 7,681 Manufacturing 17,419 17,560 17,322 17,263 16,441 15,259 14,510 14,315 14,226 14,197 14,238 14,229 14,218 14,206 14,166 14,143 14,131 14,130 14,113 14,090 14,072 14,065 14,047 Service-providing industries Total 98,890 101,576 104,528 107,136 107,952 107,784 108,182 109,553 111,513 113,605 113,417 113,630 113,809 114,011 114,172 114,416 114,647 114,775 114,954 115,097 115,256 115,455 115,590 Trade, transportation, and utilities Total 3 Retail trade 24,700 25,186 25,771 26,225 25,983 25,497 25,287 25,533 25,959 26,231 26,197 26,226 26,227 26,241 26,258 26,320 26,345 26,378 26,393 26,436 26,427 26,450 26,452 14,389 14,609 14,970 15,280 15,239 15,025 14,917 15,058 15,280 15,319 15,296 15,306 15,298 15,290 15,298 15,328 15,324 15,358 15,365 15,404 15,377 15,390 15,366 1 Data from the establishment survey. Includes all full- and part-time wage and salary workers in nonagricultural establishments who received pay for any part of the pay period that includes the 12th of the month. Excludes proprietors, self-employed persons, unpaid family workers, and private household workers. Data from the household survey shown on p. 11 include those workers and also count persons as employed when they are not at work because of industrial disputes, bad weather, etc., even if they are not paid for the time off. In the series shown here, persons who work at more than one job are counted each time they appear on a payroll, in contrast to the series shown on p. 11 where persons are counted only once—as employed, unemployed, or not in the labor force. See Employment and Earnings for details. Information 3,084 3,218 3,419 3,631 3,629 3,395 3,188 3,118 3,061 3,055 3,048 3,043 3,051 3,052 3,054 3,057 3,073 3,071 3,084 3,086 3,096 3,101 3,101 2 Includes 3 Includes Financial activities 7,178 7,462 7,648 7,687 7,807 7,847 7,977 8,031 8,153 8,363 8,348 8,368 8,379 8,408 8,415 8,422 8,438 8,440 8,446 8,445 8,448 8,464 8,465 Profes- Educasional tion Leisure and and and busihealth hospiness services tality services 14,335 15,147 15,957 16,666 16,476 15,976 15,987 16,395 16,954 17,552 17,539 17,592 17,617 17,636 17,662 17,726 17,792 17,804 17,840 17,834 17,859 17,881 17,872 14,087 14,446 14,798 15,109 15,645 16,199 16,588 16,953 17,372 17,838 17,794 17,828 17,894 17,946 17,976 18,018 18,063 18,102 18,138 18,188 18,246 18,295 18,354 01:19 Jul 12, 2007 Jkt 036496 PO 00000 Frm 00014 Fmt 3401 Government Total 4,825 4,976 5,087 5,168 5,258 5,372 5,401 5,409 5,395 5,432 5,431 5,427 5,430 5,443 5,450 5,443 5,449 5,444 5,454 5,462 5,470 5,480 5,483 19,664 19,909 20,307 20,790 21,118 21,513 21,583 21,621 21,804 21,990 21,968 21,990 22,023 22,076 22,100 22,106 22,114 22,140 22,174 22,197 22,229 22,256 22,296 Federal 2,806 2,772 2,769 2,865 2,764 2,766 2,761 2,730 2,732 2,728 2,733 2,739 2,730 2,729 2,725 2,719 2,713 2,718 2,718 2,716 2,716 2,715 2,714 natural resources and mining, not shown separately. wholesale trade, transportation and warehousing, and utilities, not shown sepa- rately. NOTE.—Data classified by industry based on the 2002 North American Industry Classification System (NAICS). For details see Employment and Earnings, June 2003. Source: Department of Labor, Bureau of Labor Statistics. 14 VerDate Aug 31 2005 11,018 11,232 11,543 11,862 12,036 11,986 12,173 12,493 12,816 13,143 13,092 13,156 13,188 13,209 13,257 13,324 13,373 13,396 13,425 13,449 13,481 13,528 13,567 Other services Sfmt 3401 E:\HR\OC\ECOIND.014 ECOIND g:\graphics\eecoind.014 Period Total nonagricultural employment AVERAGE WEEKLY HOURS, HOURLY EARNINGS, AND WEEKLY EARNINGS PRIVATE NONAGRICULTURAL INDUSTRIES [For production or nonsupervisory workers; monthly data seasonally adjusted] Average weekly hours Average gross hourly earnings Manufacturing Total private nonagricultural 1 Period 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2006: .................... ..................... ..................... .................... ..................... ..................... ..................... ..................... ..................... ..................... May ........... June .......... July ........... Aug ........... Sept .......... Oct ............ Nov ........... Dec ........... 2007: Jan ........... Feb ........... Mar ........... Apr r .......... May r ......... June p ........ 34.5 34.5 34.3 34.3 34.0 33.9 33.7 33.7 33.8 33.9 33.8 33.9 33.9 33.8 33.8 33.9 33.8 33.9 33.8 33.7 33.9 33.8 33.8 33.9 Total 41.7 41.4 41.4 41.3 40.3 40.5 40.4 40.8 40.7 41.1 41.1 41.2 41.5 41.3 41.1 41.2 41.0 41.0 40.9 40.9 41.2 41.1 41.1 41.3 Average gross weekly earnings Total private nonagricultural 1 Current dollars Overtime 5.1 4.8 4.8 4.7 4.0 4.2 4.2 4.6 4.6 4.4 4.5 4.5 4.5 4.4 4.3 4.3 4.1 4.2 4.1 4.1 4.3 4.2 4.2 4.3 $12.51 13.01 13.49 14.02 14.54 14.97 15.37 15.69 16.13 16.76 16.66 16.73 16.79 16.84 16.88 16.94 16.99 17.07 17.10 17.16 17.21 17.25 17.32 17.38 1982 dollars 2 Total private nonagricultural 1 Manufacturing $7.69 7.89 8.01 8.04 8.12 8.25 8.28 8.24 8.18 8.24 8.17 8.18 8.17 8.17 8.25 8.34 8.36 8.36 8.36 8.36 8.32 8.30 8.26 .............. $13.14 13.45 13.85 14.32 14.76 15.29 15.74 16.15 16.56 16.80 16.77 16.78 16.78 16.83 16.83 16.88 16.89 16.95 16.98 17.03 17.09 17.18 17.21 17.24 1 Also includes other private industry groups shown on p. 14. 2 Current dollar earnings divided by the consumer price index for urban wage earners and clerical workers (CPI–W) (on a 1982=100 base). Percent change from a year earlier, total private nonagricultural Current dollars Current dollars 1982 dollars 2 Manufacturing Construction Retail trade $431.86 448.56 463.15 481.01 493.79 506.72 518.06 529.09 544.33 567.87 563.11 567.15 569.18 569.19 570.54 574.27 574.26 578.67 577.98 578.29 583.42 583.05 585.42 589.18 $265.60 272.18 275.03 275.97 275.71 279.18 279.13 277.88 276.17 279.19 276.03 277.33 277.11 276.31 278.99 282.61 282.47 283.25 282.54 281.61 281.92 280.46 279.35 .............. $548.22 557.12 573.17 590.65 595.19 618.75 635.99 659.59 673.37 690.83 689.25 691.34 696.37 695.08 691.71 695.46 692.49 694.95 694.48 696.53 704.11 706.10 707.33 712.01 $609.48 629.75 655.11 685.78 695.89 711.82 726.83 735.55 750.22 781.04 765.00 781.17 780.33 784.29 774.53 793.41 794.43 813.51 795.29 789.89 806.52 804.32 814.57 819.15 $295.97 310.34 321.63 333.38 346.16 360.81 367.15 371.13 377.58 383.16 380.91 382.74 384.56 382.99 384.56 385.78 385.52 385.17 385.78 383.84 384.14 385.05 384.38 386.26 Current dollars 4.5 3.9 3.3 3.9 2.7 2.6 2.2 2.1 2.9 4.3 4.0 4.7 4.5 4.4 4.1 4.2 4.2 4.6 4.1 3.8 4.3 3.4 4.0 3.9 1982 dollars 2.2 2.5 1.0 .3 ¥.1 1.3 ¥.0 ¥.4 ¥.6 1.1 ¥.2 .2 .2 .4 2.3 3.3 2.4 2.1 2.2 1.5 1.6 .9 1.2 .............. Source: Department of Labor, Bureau of Labor Statistics. EMPLOYMENT COST INDEX—PRIVATE INDUSTRY Index (December 2005 = 100) Percent change from 3 months earlier Period Total compensation Wages and salaries Benefits 1 Total compensation 12 months earlier Wages and salaries Benefits 1 Total compensation Wages and salaries Benefits 1 Not seasonally adjusted 1997: 1998: 1999: 2000: 2001: 2002: 2003: 2004: 2005: 2006: Dec Dec Dec Dec Dec Dec Dec Dec Dec Dec ................................................................. ................................................................. ................................................................. ................................................................. ................................................................. ................................................................. ................................................................. ................................................................. ................................................................. ................................................................. 74.9 77.5 80.2 83.6 87.3 90.0 93.6 97.2 100.0 103.2 77.6 80.6 83.5 86.7 89.9 92.2 95.1 97.6 100.0 103.2 68.5 70.2 72.6 76.7 81.3 84.7 90.2 96.2 100.0 103.1 ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ .................. .................. .................. .................. .................. .................. .................. .................. .................. .................. Seasonally adjusted hmoore on PRODPC68 with HMECOIND 2004: Mar ................................................................. June ............................................................... Sept ................................................................ Dec ................................................................. 2005: Mar ................................................................. June ............................................................... Sept ................................................................ Dec ................................................................. 2006: Mar ................................................................. June ............................................................... Sept ................................................................ Dec ................................................................. 2007: Mar ................................................................. 94.9 95.8 96.7 97.3 98.2 98.8 99.5 100.1 100.8 101.6 102.5 103.3 103.9 95.7 96.4 97.2 97.6 98.3 98.8 99.4 100.1 100.8 101.6 102.4 103.2 104.3 1 Employer costs for employee benefits. NOTE.—The employment cost index is a measure of the change in the cost of labor, free from the influence of employment shifts among occupations and industries. Data exclude farm and household workers. 92.9 94.4 95.4 96.5 98.0 98.8 99.6 100.3 100.8 101.5 102.5 103.4 103.1 1.2 .9 .9 .6 .9 .6 .7 .6 .7 .8 .9 .8 .6 3.5 3.5 3.5 4.2 4.1 3.1 4.0 3.8 2.9 3.2 3.9 3.9 3.6 3.8 3.8 2.6 3.1 2.6 2.5 3.2 2.2 2.5 3.4 5.6 5.2 4.2 6.5 6.7 4.0 3.1 Not seasonally adjusted 0.6 .7 .8 .4 .7 .5 .6 .7 .7 .8 .8 .8 1.1 2.7 1.6 1.1 1.2 1.6 .8 .8 .7 .5 .7 1.0 .9 ¥.3 3.8 3.9 3.8 3.8 3.5 3.1 2.9 2.9 2.6 2.8 3.0 3.2 3.2 2.6 2.7 2.6 2.6 2.7 2.5 2.3 2.5 2.4 2.8 3.0 3.2 3.6 6.8 7.3 6.7 6.7 5.5 4.7 4.5 4.0 3.0 2.7 2.8 3.1 2.2 Data beginning 2001 are based on the 2002 North American Industry Classification (NAICS); data prior to 2001 are based on the Standard Industrial Classification (SIC). For details on industry classification and other details see Employment Cost Index, release dated April 28, 2006. Source: Department of Labor, Bureau of Labor Statistics. 15 VerDate Aug 31 2005 01:19 Jul 12, 2007 Jkt 036496 PO 00000 Frm 00015 Fmt 3401 Sfmt 3401 E:\HR\OC\ECOIND.015 ECOIND PRODUCTIVITY AND RELATED DATA, BUSINESS SECTOR Output per hour of all persons Period Business sector Nonfarm business sector Output 1 Business sector Hours of all persons 2 Nonfarm business sector Business sector Compensation per hour 3 Nonfarm business sector Nonfarm business sector Business sector Real compensation per hour 4 Business sector Nonfarm business sector Unit labor costs Business sector Nonfarm business sector Implicit price deflator 5 Business sector Nonfarm business sector Indexes, 1992=100; quarterly data seasonally adjusted 1997 ........................ 1998 ........................ 1999 ........................ 2000 ........................ 2001 ........................ 2002 ........................ 2003 ........................ 2004 ........................ 2005 ........................ 2006 r ....................... 2003: I ................... II ................. III ............... IV ................ 2004: I ................... II ................. III ................ IV ................ 2005: I ................... II ................. III ................ IV ................ 2006: I ................... II ................. III ................ IV r ............... 2007: I r* ................ 106.5 109.5 112.8 116.1 119.1 123.9 128.7 132.6 135.4 137.7 125.8 127.9 130.8 130.3 131.4 132.8 133.0 133.5 134.6 134.8 136.2 136.1 137.4 137.7 137.6 138.1 138.3 106.4 109.4 112.5 115.7 118.6 123.5 128.0 131.8 134.6 136.7 125.2 126.9 130.1 129.9 130.6 132.1 132.2 132.3 133.6 134.1 135.4 135.2 136.3 136.7 136.6 137.3 137.6 122.7 128.6 135.2 140.5 141.0 143.1 147.5 154.0 159.8 165.8 144.4 146.0 149.7 150.1 151.7 153.5 154.8 155.8 157.4 159.0 160.9 161.7 164.3 165.4 166.2 167.4 167.6 122.8 128.9 135.6 140.8 141.3 143.4 147.8 154.2 160.0 166.1 144.6 146.1 150.0 150.6 151.9 153.9 155.1 156.0 157.6 159.4 161.3 162.0 164.6 165.7 166.5 167.7 167.9 115.2 117.5 119.8 121.0 118.4 115.4 114.6 116.1 118.0 120.4 114.8 114.1 114.5 115.2 115.5 115.7 116.5 116.8 117.0 118.0 118.2 118.8 119.6 120.1 120.8 121.2 121.1 115.4 117.9 120.5 121.7 119.2 116.1 115.4 117.0 118.9 121.5 115.5 115.1 115.3 115.9 116.4 116.5 117.3 117.9 118.0 118.8 119.1 119.8 120.7 121.2 121.9 122.1 122.0 113.0 119.9 125.8 134.7 140.4 145.3 151.2 156.9 163.5 171.6 148.1 150.8 152.5 153.6 154.4 155.7 157.5 160.0 161.7 161.8 164.7 165.7 170.8 170.2 170.5 174.8 175.9 112.8 119.6 125.2 134.2 139.5 144.6 150.4 155.9 162.3 170.4 147.3 149.7 151.7 152.9 153.5 154.8 156.5 158.6 160.5 160.8 163.5 164.5 169.6 169.0 169.2 173.8 175.0 100.5 105.2 108.0 112.0 113.5 115.7 117.7 119.0 119.9 121.9 115.7 117.8 118.4 118.9 118.5 118.4 119.0 119.9 120.5 119.4 119.9 119.7 122.8 120.8 120.2 123.8 123.4 100.4 104.9 107.5 111.6 112.8 115.1 117.1 118.2 119.1 121.0 115.2 116.9 117.8 118.4 117.8 117.6 118.3 118.8 119.6 118.7 119.1 118.8 121.9 120.0 119.2 123.1 122.8 106.1 109.5 111.5 116.0 117.9 117.3 117.5 118.3 120.7 124.6 117.7 117.9 116.6 117.9 117.5 117.3 118.5 119.9 120.1 120.0 120.9 121.8 124.4 123.6 123.9 126.6 127.2 106.0 109.3 111.3 116.0 117.7 117.1 117.5 118.3 120.6 124.6 117.7 118.0 116.6 117.7 117.5 117.2 118.4 119.9 120.1 119.9 120.8 121.7 124.4 123.6 123.9 126.6 127.1 109.0 109.7 110.7 112.7 114.9 116.1 117.8 120.8 124.3 127.5 117.3 117.4 118.0 118.5 119.5 120.6 121.1 122.1 123.0 123.7 124.7 125.7 126.6 127.5 127.9 128.2 129.4 109.1 109.9 111.1 113.3 115.4 116.7 118.3 121.1 124.9 128.2 117.9 118.0 118.4 118.7 119.8 120.7 121.4 122.5 123.5 124.3 125.3 126.4 127.3 128.3 128.6 128.8 129.8 1.4 3.1 1.8 4.2 1.5 ¥.5 .3 .7 2.0 3.3 2.0 1.0 ¥4.5 3.8 ¥.5 ¥1.2 4.2 5.2 .7 ¥.6 3.0 3.0 9.1 ¥2.5 1.1 8.9 1.8 1.5 .6 .9 1.8 2.0 1.0 1.5 2.6 2.9 2.6 1.9 .6 1.8 1.8 3.6 3.6 1.7 3.4 3.0 2.3 3.3 3.2 2.7 3.1 1.2 1.0 3.7 1.7 .7 1.1 1.9 1.9 1.1 1.3 2.4 3.1 2.7 2.0 .4 1.3 1.1 3.6 3.1 2.4 3.7 3.3 2.5 3.5 3.3 2.9 3.4 .8 .5 3.2 Percent change; quarterly data at seasonally adjusted annual rates hmoore on PRODPC68 with HMECOIND 1997 ........................ 1998 ........................ 1999 ........................ 2000 ........................ 2001 ........................ 2002 ........................ 2003 ........................ 2004 ........................ 2005 ........................ 2006 r ....................... 2003: I ................... II ................. III ............... IV ................ 2004: I ................... II ................. III ................ IV ................ 2005: I ................... II ................. III ................ IV ................ 2006: I ................... II ................. III ................ IV r ............... 2007: I r* ................ 1.9 2.8 3.1 2.9 2.6 4.1 3.8 3.1 2.1 1.7 3.3 7.0 9.1 ¥1.3 3.2 4.3 .6 1.6 3.4 .5 4.3 ¥.2 3.8 1.0 ¥.3 1.5 .5 1.6 2.8 2.9 2.8 2.5 4.1 3.7 2.9 2.1 1.6 3.4 5.7 10.4 ¥.5 1.9 4.9 .2 .4 4.0 1.5 3.7 ¥.6 3.5 1.2 ¥.5 2.1 1.0 5.3 4.8 5.1 3.9 .3 1.5 3.1 4.4 3.7 3.8 1.1 4.6 10.4 1.1 4.5 4.8 3.4 2.6 4.2 4.1 4.9 1.8 6.7 2.7 1.9 2.9 .4 5.2 5.0 5.2 3.8 .4 1.5 3.1 4.3 3.8 3.8 1.2 4.3 11.0 1.6 3.6 5.2 3.2 2.4 4.2 4.4 4.9 1.8 6.7 2.7 1.9 2.9 .6 3.4 2.0 2.0 1.0 ¥2.2 ¥2.5 ¥.7 1.3 1.6 2.1 ¥2.2 ¥2.2 1.2 2.5 1.2 .5 2.8 1.0 .8 3.6 .6 2.1 2.8 1.7 2.2 1.4 ¥.1 3.5 2.1 2.2 1.0 ¥2.0 ¥2.6 ¥.6 1.4 1.6 2.1 ¥2.1 ¥1.3 .5 2.2 1.7 .3 3.0 2.0 .3 2.9 1.1 2.3 3.0 1.5 2.4 .8 ¥.4 1 Output refers to real gross domestic product originating in the sector. 2 Hours of all persons engaged in the sector, including hours of proprietors and unpaid family workers. Estimates based primarily on establishment data. 3 Wages and salaries of employees plus employers’ contributions for social insurance and private benefit plans. Also includes an estimate of wages, salaries, and supplemental payments for the self-employed. 4 Hourly compensation divided by the consumer price index for all urban consumers (CPI– U) for recent quarters. The trend from 1978–2006 is based on the consumer price index research series (CPI–U–RS). 5 Current dollar gross domestic output divided by the output index. 3.2 6.1 4.9 7.1 4.2 3.5 4.1 3.8 4.2 5.0 5.5 7.6 4.7 2.9 2.1 3.5 4.6 6.6 4.2 .2 7.3 2.7 12.9 ¥1.6 .9 10.4 2.5 3.1 6.0 4.7 7.2 4.0 3.6 4.0 3.6 4.1 5.0 5.5 6.7 5.4 3.3 1.4 3.6 4.4 5.6 4.7 .9 6.8 2.4 12.9 ¥1.4 .6 11.2 2.8 1.0 4.6 2.7 3.7 1.4 1.9 1.7 1.1 .8 1.6 1.7 7.2 2.2 1.8 ¥1.4 ¥.6 2.3 2.9 2.2 ¥3.6 1.7 ¥.8 10.7 ¥6.2 ¥2.2 12.8 ¥1.4 0.9 4.5 2.5 3.7 1.2 2.0 1.7 .9 .8 1.6 1.7 6.4 2.9 2.2 ¥2.1 ¥.6 2.1 1.9 2.7 ¥2.9 1.2 ¥1.0 10.7 ¥6.1 ¥2.5 13.6 ¥1.0 1.3 3.2 1.8 4.1 1.6 ¥.5 .2 .7 2.0 3.2 2.1 .6 ¥4.1 4.3 ¥1.1 ¥.8 4.0 5.0 .8 ¥.3 2.9 2.9 8.8 ¥2.6 1.2 8.8 1.9 NOTE.—Data relate to all persons engaged in the sector. Percent changes are from preceding period and are based on original data; they therefore may differ slightly from percent changes based on indexes shown here. * Data based on GDP data released on May 31, 2007. Source: Department of Labor, Bureau of Labor Statistics. 16 VerDate Aug 31 2005 01:19 Jul 12, 2007 Jkt 036496 PO 00000 Frm 00016 Fmt 3401 Sfmt 3401 E:\HR\OC\ECOIND.016 ECOIND PRODUCTION AND BUSINESS ACTIVITY INDUSTRIAL PRODUCTION AND CAPACITY UTILIZATION Industrial production was unchanged in May; capacity utilization fell. [Monthly data seasonally adjusted] Percent Period hmoore on PRODPC68 with HMECOIND 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 Index, 2002=100 From preceding month Industry production indexes, 2002=100 change 2 From year earlier Capacity utilization rate (output as percent of capacity) 1 Manufacturing Total 1 Durable Nondurable Other (nonNAICS) 1 Mining Utilities Total industry Total manufacturing ....................... ....................... ....................... ....................... ....................... ....................... ....................... ....................... ....................... ....................... 89.2 94.6 99.1 103.6 100.0 100.0 101.1 103.6 106.9 111.1 .............. .............. .............. .............. .............. .............. .............. .............. .............. .............. 7.2 6.1 4.7 4.5 ¥3.5 .0 1.1 2.5 3.2 3.9 88.3 94.4 99.5 104.3 100.0 100.0 101.1 104.0 108.0 113.0 80.4 89.2 97.3 105.4 100.4 100.0 102.3 106.3 112.1 120.4 99.6 101.0 101.7 102.3 99.0 100.0 100.1 102.0 104.5 106.7 97.7 104.2 107.6 109.6 103.2 100.0 97.0 97.8 99.6 98.0 108.0 106.5 101.2 103.5 104.5 100.0 99.9 99.2 97.6 100.2 89.7 92.0 94.7 97.4 97.0 100.0 101.9 103.3 105.5 105.2 83.9 82.8 81.9 81.7 76.1 74.8 76.1 78.1 80.2 81.7 83.0 81.7 80.8 80.1 73.9 73.0 74.2 76.6 78.8 80.4 2006: May ............ June ............ July ............. Aug ............. Sept ............ Oct .............. Nov ............. Dec ............. 110.9 111.9 112.3 112.5 112.2 112.0 111.5 112.2 ¥0.1 .9 .4 .2 ¥.3 ¥.2 ¥.4 .6 4.0 4.3 4.7 4.6 6.0 4.6 3.0 2.8 112.6 113.5 113.9 114.3 114.3 113.4 113.2 114.4 120.1 121.3 121.7 122.6 122.2 121.2 121.3 122.7 106.1 107.0 107.4 107.5 107.8 106.7 106.2 107.4 98.0 98.1 98.1 97.0 97.2 99.6 99.4 98.7 100.7 101.1 101.0 99.9 101.0 100.9 100.7 102.5 105.7 107.4 108.7 108.8 104.5 109.8 106.8 102.5 81.7 82.3 82.4 82.4 82.0 81.7 81.3 81.6 80.3 80.8 80.9 81.1 80.9 80.1 79.8 80.5 2007: Jan ............. Feb r ............ Mar r ............ Apr r ............ May p ........... 111.7 112.5 112.2 112.7 112.7 ¥.5 .8 ¥.3 .4 .0 2.4 2.9 2.1 1.6 1.6 113.7 113.6 114.4 114.6 114.7 121.2 121.3 122.3 122.9 123.0 107.5 107.2 107.7 107.6 107.6 98.4 98.6 99.1 98.7 98.3 100.2 100.0 100.9 100.3 100.7 105.1 114.1 104.7 108.2 106.9 81.1 81.6 81.2 81.5 81.3 79.8 79.6 80.0 80.0 79.9 1 Total industry and total manufacturing series include manufacturing as defined in the North American Industry Classification System (NAICS) plus those industries—logging and newspaper, periodical, book and directory-publishing—that have traditionally been included in manufacturing. 2 Percent changes based on unrounded indexes. NOTE.—Data based on the North American Industry Classification System (NAICS) except series as defined in footnote 1. Source: Board of Governors of the Federal Reserve System. 17 VerDate Aug 31 2005 01:19 Jul 12, 2007 Jkt 036496 PO 00000 Frm 00017 Fmt 3401 Sfmt 3401 E:\HR\OC\ECOIND.017 ECOIND G:\graphics\eecoind.017 Total industrial production 1 INDUSTRIAL PRODUCTION—MAJOR MARKET GROUPS AND SELECTED MANUFACTURES [2002=100; monthly data seasonally adjusted] Products and nonindustrial supplies Final products Consumer goods Equipment Durable goods Business equipment Period Total Total 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 Nondurable goods Materials Nonindustrial supplies Total 1 Defense and space equipment Total Construction supplies Business supplies Total 1 Energy ............................................................ ............................................................ ............................................................ ............................................................ ............................................................ ............................................................ ............................................................ ............................................................ ............................................................ ............................................................ 91.6 97.0 99.7 102.9 100.8 100.0 101.2 103.3 107.6 111.5 92.1 95.5 97.3 99.3 98.1 100.0 101.3 102.8 105.7 106.9 84.0 89.9 96.1 99.2 94.9 100.0 103.4 104.8 105.9 105.6 95.7 97.8 97.8 99.3 99.4 100.0 100.5 102.0 105.5 107.2 91.9 101.4 106.0 111.6 107.3 100.0 100.9 104.7 112.7 124.1 89.7 100.3 106.5 114.6 107.6 100.0 100.2 104.5 112.8 125.9 100.9 105.1 102.7 92.1 100.6 100.0 103.8 104.0 109.7 112.0 91.1 96.4 100.3 104.5 100.1 100.0 101.0 103.2 107.0 110.3 95.1 100.2 102.8 105.1 100.5 100.0 99.8 101.8 106.7 110.4 89.6 95.0 99.4 104.2 100.0 100.0 101.5 103.7 107.1 110.3 86.2 91.7 98.0 104.0 99.1 100.0 100.9 104.0 106.2 111.0 99.4 99.8 99.6 101.0 100.0 100.0 99.9 99.7 98.4 99.8 2006: May ................................................. June ................................................ July ................................................. Aug .................................................. Sept ................................................. Oct .................................................. Nov .................................................. Dec .................................................. 110.9 112.2 112.5 112.9 112.7 112.4 112.8 113.6 106.4 107.6 107.4 107.8 107.6 107.3 107.6 107.8 106.0 107.4 105.1 106.2 105.4 102.8 104.4 106.2 106.4 107.6 108.1 108.2 108.2 108.7 108.5 108.2 123.3 124.7 126.2 126.6 126.6 126.3 126.9 129.2 124.8 126.4 128.1 128.6 128.5 128.4 129.5 132.1 111.8 112.6 113.8 113.0 113.6 113.3 112.0 112.5 110.3 110.9 111.3 111.4 110.7 110.9 109.6 110.1 111.1 111.1 111.6 111.3 110.3 108.4 107.4 109.7 109.9 110.8 111.2 111.5 110.8 111.9 110.5 110.3 111.0 111.9 112.5 112.6 112.2 112.0 111.0 111.7 100.2 101.1 101.7 100.9 100.0 101.3 100.6 100.2 2007: Jan .................................................. Feb r ................................................. Mar r ................................................ Apr r ................................................. May p ................................................ 112.7 114.2 113.5 114.2 114.0 107.4 109.4 108.3 109.2 108.9 103.1 104.6 105.0 106.7 106.6 108.7 110.9 109.2 109.8 109.5 126.9 127.1 127.6 127.8 128.0 128.8 129.2 130.5 130.5 130.6 113.9 113.0 109.9 111.1 113.0 110.0 110.2 109.7 109.9 110.0 108.4 106.8 107.9 107.9 108.4 110.6 111.5 110.5 110.7 110.6 111.3 111.8 111.9 112.4 112.4 100.5 101.9 100.1 100.8 100.8 1 Includes other items, not shown separately. [2002=100; monthly data seasonally adjusted] Durable manufactures Primary metal Period Total 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 Iron and steel products Fabricated metal products Machinery Total Selected hightechnology 1 Transportation equipment Total Motor vehicles and parts Apparel Printing and support Chemical Food ............................................................ ............................................................ ............................................................ ............................................................ ............................................................ ............................................................ ............................................................ ............................................................ ............................................................ ............................................................ 112.4 114.3 114.0 110.3 99.8 100.0 98.9 109.3 107.1 112.1 111.4 111.2 112.0 110.9 100.3 100.0 100.8 116.4 109.9 117.0 102.9 106.3 107.0 111.2 103.1 100.0 98.9 99.1 103.3 108.9 111.7 114.5 112.0 117.7 104.1 100.0 99.6 103.7 110.0 117.1 43.0 56.2 75.5 101.8 103.5 100.0 111.5 126.2 141.0 169.1 32.0 45.6 67.7 98.8 101.5 100.0 116.7 132.6 156.6 198.1 91.0 99.0 104.4 99.5 95.7 100.0 101.1 100.8 104.1 109.4 85.8 90.2 100.1 99.5 90.6 100.0 103.5 103.8 103.7 101.9 172.2 162.9 156.1 148.5 127.2 100.0 92.3 79.5 76.8 77.8 110.2 111.5 112.4 113.1 106.3 100.0 96.3 97.0 98.9 103.3 90.2 91.7 93.6 95.0 93.3 100.0 101.4 105.7 108.0 110.3 91.0 95.0 96.0 97.7 97.7 100.0 101.0 101.1 104.5 107.7 2006: May ................................................. June ................................................ July ................................................. Aug .................................................. Sept ................................................. Oct .................................................. Nov .................................................. Dec .................................................. 117.1 117.7 115.7 114.5 112.8 109.2 103.8 102.7 125.5 126.1 123.3 121.8 119.8 112.3 103.9 99.5 108.4 109.1 109.9 110.7 110.5 110.5 109.7 109.8 114.1 114.8 119.6 121.0 120.6 118.1 117.6 122.6 165.8 169.1 171.6 174.0 177.2 179.3 180.0 181.7 192.8 196.0 199.3 204.3 210.7 214.4 216.2 218.6 109.3 111.2 109.2 110.4 109.8 107.8 110.5 111.9 102.5 104.6 100.3 102.2 100.9 97.3 100.7 102.4 78.3 78.9 79.3 77.9 77.5 78.4 77.5 77.4 102.7 103.0 102.7 102.7 103.1 104.1 104.3 106.3 110.0 111.1 111.8 112.4 111.7 110.1 108.8 110.5 106.6 106.6 107.0 107.0 108.5 109.4 110.0 109.8 2007: Jan .................................................. Feb r ................................................. Mar r ................................................ Apr r ................................................. May p ................................................ 107.1 107.6 109.0 111.2 112.8 107.6 109.2 111.2 113.9 117.5 109.3 109.8 110.7 110.8 110.8 116.4 115.3 117.9 116.5 115.9 181.3 181.5 182.2 183.3 184.0 219.9 220.4 223.1 225.0 225.7 108.9 110.5 110.5 111.8 111.9 96.4 98.7 99.2 100.6 100.2 78.8 77.8 76.8 77.7 77.8 105.6 106.0 105.6 105.0 103.8 109.9 110.1 110.2 110.5 110.3 110.0 110.8 111.6 111.8 111.5 1 Computers and office equipment, communications equipment, and semiconductors and related electronic components. hmoore on PRODPC68 with HMECOIND Nondurable manufactures Computer and electronic products Source: Board of Governors of the Federal Reserve System. 18 VerDate Aug 31 2005 01:19 Jul 12, 2007 Jkt 036496 PO 00000 Frm 00018 Fmt 3401 Sfmt 3401 E:\HR\OC\ECOIND.018 ECOIND NEW CONSTRUCTION [Billions of dollars; monthly data at seasonally adjusted annual rates] Private Period 1997 r 1998 r 1999 r 2000 r 2001 r 2002 r 2003 r 2004 r 2005 r 2006 r ................................... ................................... ................................... ................................... ................................... ................................... ................................... ................................... ................................... ................................... May r ........................ June r ....................... July r ........................ Aug r ......................... Sept r ........................ Oct r ......................... Nov r ......................... Dec r ......................... 2007: Jan r ......................... Feb r ......................... Mar r ........................ Apr r ......................... May p ........................ Total new construction expenditures Residential Total New housing Total 1 656.2 706.8 768.8 831.1 864.2 873.1 921.4 1,023.5 1,132.1 1,192.2 1,210.0 1,204.0 1,192.9 1,186.3 1,172.1 1,164.9 1,166.3 1,167.3 1,160.2 1,162.2 1,163.6 1,166.0 1,176.6 502.7 552.0 599.7 649.8 662.2 659.7 705.3 803.3 898.0 937.0 954.4 946.2 936.5 932.4 919.0 907.3 904.5 896.6 884.4 889.7 886.8 887.6 892.1 289.0 314.6 350.6 374.5 388.3 421.9 475.9 564.8 641.3 641.3 665.9 650.9 636.6 625.4 614.4 601.3 590.0 580.7 567.5 562.9 555.6 553.6 549.0 Federal and State and local Nonresidential Total 198.1 224.0 251.3 265.0 279.4 298.8 345.7 417.5 480.8 469.0 494.3 478.9 465.3 452.8 444.3 430.0 418.7 411.1 398.1 386.1 383.5 380.0 375.4 213.7 237.4 249.2 275.3 273.9 237.7 229.3 238.5 256.6 295.7 288.5 295.3 299.9 306.9 304.6 306.0 314.5 315.9 316.9 326.7 331.2 334.1 343.1 1 Includes residential improvements, not shown separately. 2 Includes health care, educational, communication, and power, among other categories not shown separately. Lodging 12.9 14.8 16.0 16.3 14.5 10.5 9.9 12.0 12.7 17.7 16.8 18.0 18.5 18.7 18.8 20.2 21.0 20.5 20.6 22.0 25.0 26.7 27.8 Commercial (including farm) Office 32.8 40.4 45.1 52.4 49.7 35.3 30.6 32.9 37.3 46.2 44.7 46.2 48.8 49.4 48.8 48.7 50.4 51.5 54.5 53.5 52.8 51.4 52.0 Manufacturing 53.1 55.7 59.4 64.1 63.6 59.0 57.5 63.2 66.6 72.1 70.0 70.5 71.6 73.1 74.3 73.0 75.9 76.8 78.6 79.9 80.2 81.3 81.7 Other 2 37.6 40.5 35.1 37.6 37.8 22.7 21.4 23.7 29.9 34.3 33.2 35.3 34.2 38.6 35.9 34.2 35.1 35.2 34.3 35.7 35.0 36.0 38.2 77.3 86.0 93.7 104.9 108.2 110.2 109.9 106.8 110.2 125.4 123.8 125.2 126.8 127.2 126.8 129.8 132.1 132.0 128.8 135.6 138.1 138.7 143.5 153.4 154.8 169.1 181.3 201.9 213.4 216.1 220.2 234.2 255.2 255.6 257.8 256.4 253.9 253.1 257.6 261.9 270.6 275.9 272.5 276.8 278.3 284.5 Note.—Data reflect annual revisions released on June 29, 2007. Source: Department of Commerce, Bureau of the Census. NEW PRIVATE HOUSING AND VACANCY RATES [Thousands of units or houses, except as noted] New private housing units Units started, by type of structure Period Total 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 ...................................... ...................................... ...................................... ...................................... ...................................... ...................................... ...................................... ...................................... ...................................... ...................................... New private houses 1,474.0 1,616.9 1,640.9 1,568.7 1,602.7 1,704.9 1,847.7 1,955.8 2,068.3 1,800.9 2–4 units 1 1 unit 1,133.7 1,271.4 1,302.4 1,230.9 1,273.3 1,358.6 1,499.0 1,610.5 1,715.8 1,465.4 5 units or more 44.5 42.6 31.9 38.7 36.6 38.5 33.5 42.3 41.1 42.7 295.8 302.9 306.6 299.1 292.8 307.9 315.2 303.0 311.4 292.8 Units authorized 1,441.1 1,612.3 1,663.5 1,592.3 1,636.7 1,747.7 1,889.2 4 2,070.1 2,155.3 1,838.9 Units completed Houses sold Houses for sale at end of period 2 Vacancy rate for rental housing units (percent) 3 1,400.5 1,474.2 1,604.9 1,573.7 1,570.8 1,648.4 1,678.7 1,841.9 1,931.4 1,979.4 804 886 880 877 908 973 1,086 1,203 1,283 1,051 281 294 308 298 308 339 370 422 511 535 7.7 7.9 8.1 8.0 8.4 8.9 9.8 10.2 9.8 9.7 1,087 1,073 969 1,009 1,004 952 987 1,019 564 565 573 568 560 553 542 535 ...................... 9.6 ...................... ...................... 9.9 ...................... ...................... 9.8 ...................... ...................... 10.1 ...................... ...................... Seasonally adjusted annual rates 2006: May ........................... June .......................... July ........................... Aug ............................ Sept ........................... Oct ............................. Nov ............................ Dec ............................ 1,944 1,819 1,746 1,646 1,721 1,470 1,565 1,629 1,582 1,469 1,434 1,355 1,391 1,181 1,273 1,241 50 44 82 40 29 38 20 49 312 306 230 251 301 251 272 339 1,918 1,879 1,774 1,731 1,654 1,560 1,527 1,628 1,901 2,047 1,944 1,881 2,019 1,919 1,885 1,887 2007: Jan ............................ Feb ............................ Mar r .......................... Apr r ........................... May p .......................... 1,403 1,487 1,491 1,506 1,474 1,123 1,188 1,205 1,211 1,170 23 30 36 34 33 257 269 250 261 271 1,566 1,541 1,569 1,457 1,520 1,830 1,628 1,610 1,542 1,534 1 Derived; seasonally adjusted monthly data for 2–4 units are no longer published. adjusted. series. Quarterly data entered in last month of quarter. 4 Based on 20,000 permit-issuing places. Based on 19,000 places, the total for 2004 is 2,052.1 thousand units. 2 Seasonally hmoore on PRODPC68 with HMECOIND 3 Revised 890 536 r840 r544 827 930 915 547 542 535 NOTE.—Beginning 2004, units authorized are for 20,000 permit-issuing places. For other data shown, units authorized are for 19,000 places. Beginning 1999, housing starts, completions, and sales are not directly comparable with earlier data due to new estimation methods. Source: Department of Commerce, Bureau of the Census. 19 VerDate Aug 31 2005 01:19 Jul 12, 2007 Jkt 036496 PO 00000 Frm 00019 Fmt 3401 Sfmt 3401 E:\HR\OC\ECOIND.019 ECOIND BUSINESS SALES AND INVENTORIES—Manufacturing and Trade In April, according to preliminary estimates, manufacturing and trade sales rose 0.8 percent and inventories rose $4.9 billion. According to advance estimates, retail sales rose 1.5 percent in May. Retail and food services sales rose 1.4 percent. [Millions of dollars, except ratios; seasonally adjusted, except as noted] Manufacturing and trade 1 Sales 2 Inventories 3 Inventorysales ratio 4 Sales 2 Inventories 3 Retail Inventory sales ratio 4 hmoore on PRODPC68 with HMECOIND 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2006: .............................................................. 723,879 1,046,786 1.42 198,154 258,570 1.26 .............................................................. 742,837 1,078,644 1.43 202,260 272,315 1.31 .............................................................. 786,634 1,138,209 1.40 216,597 289,564 1.29 .............................................................. 834,325 1,196,628 1.41 234,546 307,962 1.28 .............................................................. 818,615 1,118,784 1.42 232,096 295,658 1.31 .............................................................. 823,714 1,138,707 1.36 236,294 298,808 1.25 .............................................................. 853,596 1,144,702 1.34 246,857 303,343 1.22 .............................................................. 923,319 1,235,243 1.30 274,710 332,815 1.16 .............................................................. 1,001,154 1,312,163 1.27 298,753 357,537 1.16 .............................................................. 1,066,358 1,388,979 1.28 329,336 388,168 1.14 Apr r ................................................... 1,060,487 1,338,413 1.26 323,579 368,409 1.14 May r .................................................. 1,073,974 1,352,235 1.26 329,881 371,694 1.13 June ................................................... 1,076,030 1,363,494 1.27 333,723 374,780 1.12 July ................................................... 1,080,842 1,371,459 1.27 335,226 377,659 1.13 Aug .................................................... 1,086,408 1,379,228 1.27 338,039 381,715 1.13 Sept ................................................... 1,063,680 1,384,505 1.30 333,762 384,500 1.15 Oct ..................................................... 1,060,357 1,386,151 1.31 331,297 385,808 1.16 Nov .................................................... 1,064,393 1,388,457 1.30 334,268 389,165 1.16 Dec .................................................... 1,080,663 1,388,979 1.29 339,937 388,168 1.14 2007: Jan .................................................... 1,070,438 1,391,893 1.30 336,713 390,424 1.16 Feb .................................................... 1,073,927 1,394,706 1.30 340,134 392,073 1.15 Mar r ................................................... 1,092,727 1,394,265 1.28 347,383 393,461 1.13 Apr p ................................................... 1,101,177 1,399,190 1.27 351,925 394,544 1.12 May p .................................................. .................. .................. ................ ................ ................ ................ 1 See page 21 for manufacturing. data are averages of monthly not seasonally adjusted figures; monthly data are seasonally adjusted totals for month. 3 Seasonally adjusted, end of period. 2 Annual Sales 2 01:19 Jul 12, 2007 Jkt 036496 PO 00000 Frm 00020 Fmt 3401 Inventory sales ratio 4 206,167 344,594 1.64 215,592 357,246 1.62 234,046 385,082 1.59 249,063 407,033 1.59 255,644 395,018 1.58 261,194 416,817 1.56 272,123 433,133 1.56 289,528 462,607 1.56 307,786 475,520 1.51 325,359 490,909 1.49 326,298 479,509 1.47 324,763 486,525 1.50 324,122 490,205 1.51 328,710 491,331 1.49 328,544 492,965 1.50 325,975 491,936 1.51 325,822 491,357 1.51 327,090 489,619 1.50 330,220 490,909 1.49 330,598 491,590 1.49 332,929 492,452 1.48 336,007 489,706 1.46 r 335,708 491,344 1.46 340,721 ................ ................ Retail and food services sales 2 227,670 238,278 257,797 274,518 282,131 288,845 301,264 320,526 340,669 360,871 361,376 359,961 359,223 363,968 364,247 361,978 361,980 363,234 367,341 367,230 369,287 372,851 r 372,631 377,885 4 Annual data are averages of seasonally adjusted monthly ratios. Source: Department of Commerce, Bureau of the Census. 20 VerDate Aug 31 2005 Inventories 3 Sfmt 3401 E:\HR\OC\ECOIND.020 ECOIND G:\graphics\eecoind.020 Period Wholesale MANUFACTURERS’ SHIPMENTS, INVENTORIES, AND ORDERS In May, manufacturers’ shipments, inventories, and unfilled orders rose, while new orders fell. Manufacturers’ shipments 1 Manufacturers’ inventories 2 Manufacturers’ new orders 1 Durable goods Period Total Durable goods Nondurable goods Durable goods Total Nondurable goods Total Total Capital goods industries, nondefense Manufacturers’ unfilled orders 2 Manufacturers’ inventory— shipments ratio 3 Millions of dollars, seasonally adjusted, except as noted .................................................... .................................................... .................................................... .................................................... .................................................... .................................................... .................................................... .................................................... .................................................... .................................................... 319,558 324,984 335,991 350,715 330,875 326,227 334,616 359,081 394,615 411,663 178,949 185,966 193,895 197,807 181,201 176,968 178,549 188,722 201,695 211,492 140,610 139,019 142,096 152,908 149,674 149,259 156,067 170,359 192,920 200,170 443,622 449,083 463,563 481,633 428,108 423,082 408,226 439,821 479,106 509,902 281,108 290,715 296,508 306,743 267,902 260,661 247,061 266,264 286,775 309,481 162,514 158,368 167,055 174,890 160,206 162,421 161,165 173,557 192,331 200,421 314,986 317,345 329,770 346,789 322,708 316,811 330,369 354,599 394,580 414,562 174,377 178,327 187,674 193,881 173,033 167,553 174,302 184,240 201,660 214,391 60,697 62,133 64,392 69,278 58,204 51,817 52,891 56,079 65,625 72,429 512,849 496,092 505,589 549,513 513,802 461,585 477,029 495,630 570,020 684,047 1.37 1.38 1.35 1.35 1.38 1.29 1.24 1.18 1.17 1.21 2006: May .......................................... June ......................................... July .......................................... Aug .......................................... Sept .......................................... Oct ........................................... Nov .......................................... Dec ........................................... 419,330 418,185 416,906 419,825 403,943 403,238 403,035 410,506 213,746 214,133 211,019 215,164 209,152 210,388 209,525 212,817 205,584 204,052 205,887 204,661 194,791 192,850 193,510 197,689 494,016 498,509 502,469 504,548 508,069 508,986 509,673 509,902 294,341 296,637 300,384 301,542 305,166 307,882 308,436 309,481 199,675 201,872 202,085 203,006 202,903 201,104 201,237 200,421 417,162 422,357 419,316 415,676 424,396 403,244 408,606 416,103 211,578 218,305 213,429 211,015 229,605 210,394 215,096 218,414 69,848 71,552 71,741 67,782 83,984 73,092 72,503 77,700 604,368 615,196 624,281 626,819 653,370 661,059 673,215 684,047 1.18 1.19 1.21 1.20 1.26 1.26 1.26 1.24 2007: Jan ........................................... Feb ........................................... Mar .......................................... Apr r ......................................... May p ........................................ 403,127 400,864 409,337 413,544 417,846 209,687 206,521 209,287 213,525 214,597 193,440 194,343 200,050 200,019 203,249 509,879 510,181 511,098 513,302 515,045 310,784 311,110 311,315 312,426 312,823 199,095 199,071 199,783 200,876 202,222 398,496 400,493 416,759 418,997 416,933 205,056 206,150 216,709 218,978 213,684 64,912 68,845 78,375 78,128 72,189 687,768 693,326 706,081 719,366 725,698 1.26 1.27 1.25 1.24 1.23 1 Annual data are averages of monthly not seasonally adjusted figures; monthly data are seasonally adjusted totals for month. Shipments are the same as sales. 2 Seasonally adjusted, end of period. 3 Annual data are averages of seasonally adjusted monthly ratios. NOTE.—Manufacturers’ nondurable new orders (not shown) are the same as nondurable shipments. Also, there are no unfilled nondurable orders; data shown for total unfilled orders are durable unfilled orders. Total and durable shipments and inventories include data on semiconductors; new and unfilled orders do not. Source: Department of Commerce, Bureau of the Census. 21 VerDate Aug 31 2005 01:19 Jul 12, 2007 Jkt 036496 PO 00000 Frm 00021 Fmt 3401 Sfmt 3401 E:\HR\OC\ECOIND.021 ECOIND g:\graphics\eecoind.021 hmoore on PRODPC68 with HMECOIND 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 PRICES PRODUCER PRICES The producer price index for all finished goods rose 0.9 percent in May. Prices of finished consumer foods fell 0.2 percent, while prices of other finished consumer goods rose 1.7 percent. Capital equipment prices rose 0.1 percent. [1982=100; monthly data seasonally adjusted] Finished goods Total finished goods Finished goods excluding consumer foods Consumer foods Consumer goods Total hmoore on PRODPC68 with HMECOIND Total 1997 ........................... 1998 ........................... 1999 .......................... 2000 ........................... 2001 ........................... 2002 .......................... 2003 .......................... 2004 .......................... 2005 .......................... 2006 .......................... 2006: May ............... June .............. July ............... Aug ................ Sept ............... Oct ................. Nov ................ Dec ................ 2007: Jan r ............... Feb ................ Mar ................ Apr ................ May ............... 1 Intermediate 131.8 130.7 133.0 138.0 140.7 138.9 143.3 148.5 155.7 160.4 160.7 161.5 161.3 161.9 160.2 157.8 160.3 161.5 160.6 162.7 164.3 165.5 167.0 134.5 134.3 135.1 137.2 141.3 140.1 145.9 152.7 155.7 156.7 154.2 156.0 156.1 157.9 158.6 157.9 158.0 159.8 161.4 164.7 167.0 167.6 167.3 130.9 129.5 132.3 138.1 140.4 138.3 142.4 147.2 155.5 161.0 162.1 162.7 162.4 162.6 160.4 157.5 160.7 161.7 160.1 161.9 163.3 164.6 166.7 Durable 128.2 126.4 130.5 138.4 141.4 138.8 144.7 150.9 161.9 169.2 170.8 171.6 171.6 171.5 167.9 163.9 167.9 169.5 167.0 169.3 171.5 173.4 176.4 Nondurable 133.7 132.9 133.0 133.9 134.0 133.0 133.1 135.0 136.6 136.9 137.1 137.3 135.4 136.5 137.2 135.5 138.0 137.8 137.6 138.3 137.9 137.6 137.8 materials for food manufacturing and feeds. Capital equipment 124.3 122.2 127.9 138.7 142.8 139.8 148.4 156.6 172.0 182.6 184.9 186.0 186.8 186.2 180.6 175.5 180.2 182.6 179.0 182.2 185.7 188.8 193.2 138.2 137.6 137.6 138.8 139.7 139.1 139.5 141.4 144.6 146.9 146.8 147.0 146.4 147.0 147.4 146.9 148.3 148.3 148.5 149.2 149.1 149.2 149.3 130.2 128.9 132.0 138.2 141.5 139.4 145.3 151.7 160.4 166.0 166.5 167.5 167.5 168.0 165.6 162.5 165.4 167.1 165.7 168.3 170.6 172.1 174.2 Intermediate materials Crude materials Total Foods and feeds 1 Other Total Foodstuffs and feedstuffs Other 125.6 123.0 123.2 129.2 129.7 127.8 133.7 142.6 154.0 164.0 164.9 165.8 166.1 166.8 164.6 162.6 163.6 165.0 163.9 165.6 167.3 168.8 170.7 125.4 116.2 111.1 111.7 115.9 115.5 125.9 137.1 133.8 135.2 132.9 133.7 134.8 134.2 135.0 135.6 138.9 140.6 143.1 148.3 150.8 151.5 151.7 125.7 123.4 123.9 130.1 130.5 128.5 134.2 143.0 155.1 165.4 166.4 167.4 167.7 168.4 166.1 164.0 164.8 166.2 165.0 166.5 168.2 169.7 171.7 111.1 96.8 98.2 120.6 121.0 108.1 135.3 159.0 182.2 184.8 186.2 181.3 186.3 191.2 183.9 166.9 186.5 191.3 180.8 200.1 206.6 203.6 207.6 112.2 103.9 98.7 100.2 106.1 99.5 113.5 127.0 122.7 119.3 111.3 115.7 118.3 118.7 120.8 124.1 127.2 127.1 130.2 139.5 142.9 144.8 146.4 106.4 88.4 94.3 130.4 126.8 111.4 148.2 179.2 223.4 230.6 239.4 227.2 233.9 242.3 227.8 195.1 227.1 235.7 212.9 239.6 248.6 241.1 247.5 Source: Department of Labor, Bureau of Labor Statistics. 22 VerDate Aug 31 2005 01:19 Jul 12, 2007 Jkt 036496 PO 00000 Frm 00022 Fmt 3401 Sfmt 3401 E:\HR\OC\ECOIND.022 ECOIND G:\graphics\eecoind.022 Period Total finished consumer goods CONSUMER PRICES—ALL URBAN CONSUMERS In May, the consumer price index for all urban consumers rose 0.7 percent seasonally adjusted; it rose 0.6 percent not seasonally adjusted. The index was 2.7 percent above its year-earlier level. [1982–84=100, except as noted; monthly data seasonally adjusted, except as noted] Housing Transportation Shelter hmoore on PRODPC68 with HMECOIND Period Not seasonally adjusted (NSA) Seasonally adjusted Food Rent of primary residence Total 1 Total 1 Owners’ equivalent rent (12/82= 100) Fuels and utilities Apparel Total 1 Motor fuel Medical care Energy 2 All items less food and energy Rel. imp.3 ............... 1997 ....................... 1998 ....................... 1999 ....................... 2000 ....................... 2001 ....................... 2002 ....................... 2003 ....................... 2004 ....................... 2005 ....................... 2006 ....................... 100.0 160.5 163.0 166.6 172.2 177.1 179.9 184.0 188.9 195.3 201.6 .............. .............. .............. .............. .............. .............. .............. .............. .............. .............. .............. 13.9 157.3 160.7 164.1 167.8 173.1 176.2 180.0 186.2 190.7 195.2 42.7 156.8 160.4 163.9 169.6 176.4 180.3 184.8 189.5 195.7 203.2 32.8 176.3 182.1 187.3 193.4 200.6 208.1 213.1 218.8 224.4 232.1 5.9 166.7 172.1 177.5 183.9 192.1 199.7 205.5 211.0 217.3 225.1 23.8 181.9 187.8 192.9 198.7 206.3 214.7 219.9 224.9 230.2 238.2 5.3 130.8 128.5 128.8 137.9 150.2 143.6 154.5 161.9 179.0 194.7 3.7 132.9 133.0 131.3 129.6 127.3 124.0 120.9 120.4 119.5 119.5 17.2 144.3 141.6 144.4 153.3 154.3 152.9 157.6 163.1 173.9 180.9 4.3 106.2 92.2 100.7 129.3 124.7 116.6 135.8 160.4 195.7 221.0 6.3 234.6 242.1 250.6 260.8 272.8 285.6 297.1 310.1 323.2 336.2 8.7 111.5 102.9 106.6 124.6 129.3 121.7 136.5 151.4 177.1 196.9 77.4 169.5 173.4 177.0 181.3 186.1 190.5 193.2 196.6 200.9 205.9 2006: May ............ June ........... July ........... Aug ............ Sept ........... Oct ............. Nov ............ Dec ............ 202.5 202.9 203.5 203.9 202.9 201.8 201.5 201.8 201.9 202.4 203.2 203.8 202.7 201.8 201.9 202.8 194.2 194.9 195.2 195.8 196.5 197.0 196.8 196.8 202.2 202.7 203.4 204.0 204.6 204.6 205.5 206.3 230.9 231.9 232.7 233.4 234.2 234.9 235.9 236.6 223.7 224.6 225.4 226.2 227.1 228.0 228.8 229.8 236.9 238.0 238.8 239.6 240.4 241.2 242.1 242.8 193.9 192.4 193.3 193.9 194.8 190.9 192.9 195.3 119.7 119.7 119.0 119.7 120.3 119.7 119.6 119.8 185.7 185.9 188.4 188.7 181.0 175.5 174.1 177.0 242.4 242.2 252.5 253.7 219.5 196.2 193.0 206.5 335.0 335.8 336.8 338.0 338.9 339.9 340.7 341.3 206.5 205.4 210.6 211.4 196.0 182.9 182.5 190.1 205.3 205.9 206.4 206.9 207.3 207.6 207.8 208.1 202.416 203.499 205.352 206.686 207.949 203.153 203.906 205.146 205.999 207.387 198.173 199.728 200.281 201.111 201.794 206.799 207.616 208.072 208.547 208.912 237.350 238.043 238.176 238.981 239.550 230.670 231.642 232.437 233.001 233.654 243.279 243.988 244.646 245.079 245.277 195.818 198.215 200.689 200.647 200.602 120.180 120.805 119.541 119.165 118.772 175.661 175.749 180.584 182.835 187.879 200.234 200.921 222.136 232.663 256.776 344.046 345.686 345.994 347.316 348.467 187.340 188.952 200.164 204.969 216.073 208.632 209.135 209.263 209.634 209.948 2007: Jan Feb Mar Apr May ............ ............ ............ ............ ............ 1 Includes items not shown separately. fuels—gas (piped), electricity, fuel oil, etc.—and motor fuel. Motor oil, coolant, etc. excluded beginning 1983. 2 Household 3 Relative importance, December 2006. Source: Department of Labor, Bureau of Labor Statistics. 23 VerDate Aug 31 2005 01:19 Jul 12, 2007 Jkt 036496 PO 00000 Frm 00023 Fmt 3401 Sfmt 3401 E:\HR\OC\ECOIND.023 ECOIND g:\graphics\eecoind.023 All items 1 CHANGES IN PRODUCER PRICES FOR FINISHED GOODS [Percent change from preceding period; monthly data seasonally adjusted, except as noted by NSA] Period Change from preceding period Change from 3 months earlier, annual rate Consumer goods Consumer goods Total finished goods Foods Capital equipment Excluding foods Change from 6 months earlier, annual rate Change from year earlier, total finished goods NSA Consumer goods Total finished goods Foods Excluding foods Capital equipment Total finished goods Foods Excluding foods Capital equipment ¥0.6 0 .3 1.2 0 ¥.6 .8 2.4 1.2 2.3 ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ .................. .................. .................. .................. .................. .................. .................. .................. .................. .................. Change, Dec. to Dec., NSA 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 ¥1.2 0 2.9 3.6 ¥1.6 1.2 4.0 4.2 5.4 1.1 ............... ............... ............... ............... ............... ............... ............... ............... ............... ............... ¥0.8 .1 .8 1.7 1.8 ¥.6 7.7 3.1 1.7 r 1.7 ¥1.5 ¥.1 5.1 5.5 ¥3.9 2.9 4.1 5.5 8.8 .4 0.4 ¥.8 1.8 3.8 2.0 ¥1.3 3.2 3.6 4.8 3.0 Change, month to month 2006: May .... June ... July .... Aug ..... Sept .... Oct ...... Nov ..... Dec ..... 0.2 .5 ¥.1 .4 ¥1.1 ¥1.5 1.6 .7 2007: Jan r .... Feb ..... Mar ..... Apr ..... May .... ¥.6 1.3 1.0 .7 .9 ¥0.8 1.2 .1 1.2 .4 ¥.4 .1 1.1 0.5 .5 0 ¥.1 ¥2.1 ¥2.4 2.4 1.0 0.2 .1 ¥.4 .4 .3 ¥.3 1.0 0 5.4 5.6 2.3 3.0 ¥3.2 ¥8.4 ¥3.9 3.3 0 3.1 1.6 9.9 6.8 4.7 .3 3.1 8.6 8.1 4.1 1.6 ¥8.3 ¥16.8 ¥8.1 3.9 2.2 2.2 ¥.3 .5 1.1 1.4 3.6 2.5 2.5 2.1 1.3 4.2 1.1 ¥3.2 ¥.5 0 ¥2.8 ¥1.8 ¥1.6 4.9 5.0 3.1 5.0 4.9 4.4 3.3 2.6 5.1 ¥.5 ¥6.9 ¥3.4 ¥2.4 2.5 2.8 1.2 1.4 1.6 .5 2.1 1.8 4.5 4.9 4.0 3.8 .9 ¥1.2 .9 1.1 1.0 ¥1.5 r 1.4 1.3 1.1 1.7 .1 r .5 ¥.1 .1 .1 7.3 6.1 7.1 12.8 11.0 9.2 18.1 19.3 r 16.3 6.5 7.8 3.4 4.8 r 16.2 17.9 4.4 2.4 2.2 r 1.9 .3 ¥.9 1.0 5.2 10.0 8.5 6.9 8.8 10.9 12.7 12.1 ¥5.3 ¥2.5 4.3 11.9 10.4 2.9 3.0 2.3 3.2 1.4 .1 2.5 3.2 3.2 4.1 r 2.0 1.4 .4 ¥.2 Source: Department of Labor, Bureau of Labor Statistics. CHANGES IN CONSUMER PRICES—ALL URBAN CONSUMERS [Percent change from preceding period; monthly data seasonally adjusted, except as noted by NSA] Housing Transportation Shelter Period All items 1 Food Total 1 Total 1 Rent of Ownpriers’ mary equivaresilent dence rent Fuels and utilities Apparel Total 1 New cars Motor fuel Medical care Energy 2 All items less food and energy Addendum: All items, percent change (annual rate) From previous quarter 3 From From 3 6 months months earlier earlier From year earlier NSA Change, December to December, NSA 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... 1.7 1.6 2.7 3.4 1.6 2.4 1.9 3.3 3.4 2.5 1.5 2.3 1.9 2.8 2.8 1.5 3.6 2.7 2.3 2.1 2.4 2.3 2.2 4.3 2.9 2.4 2.2 3.0 4.0 3.3 3.4 3.3 2.5 3.4 4.2 3.1 2.2 2.7 2.6 4.2 3.1 3.4 3.1 4.0 4.7 3.1 2.7 2.9 3.1 4.3 3.1 3.2 2.4 3.4 4.5 3.3 2.0 2.3 2.5 4.3 0.5 ¥2.6 2.4 12.1 ¥2.1 1.4 6.5 7.9 15.6 .5 1.0 ¥.7 ¥.5 ¥1.8 ¥3.2 ¥1.8 ¥2.1 ¥.2 ¥1.1 .9 ¥1.4 ¥1.7 5.4 4.1 ¥3.8 3.8 .3 6.5 4.8 1.6 ¥1.0 ¥.1 ¥.8 .3 0 ¥2.0 ¥2.1 .5 .8 .2 ¥6.2 ¥15.4 30.2 13.9 ¥24.8 24.6 6.8 26.1 16.2 6.4 2.8 3.4 3.7 4.2 4.7 5.0 3.7 4.2 4.3 3.6 ¥3.4 ¥8.8 13.4 14.2 ¥13.0 10.7 6.9 16.6 17.1 2.9 2.2 2.4 1.9 2.6 2.7 1.9 1.1 2.2 2.2 2.6 .......... .......... .......... .......... .......... .......... .......... .......... .......... .......... .......... .......... .......... .......... .......... .......... .......... .......... .......... .......... .......... .......... .......... .......... .......... .......... .......... .......... .......... .......... 2.3 1.6 2.2 3.4 2.8 1.6 2.3 2.7 3.4 3.2 Change, month to month 2006: May ............... June .............. July .............. Aug ............... Sept .............. Oct ................ Nov ............... Dec ............... hmoore on PRODPC68 with HMECOIND 2007: Jan Feb Mar Apr May ............... ............... ............... ............... ............... 0.5 .2 .4 .3 ¥.5 ¥.4 .0 .4 0.2 .4 .2 .3 .4 .3 ¥.1 0 0.2 .2 .3 .3 .3 0 .4 .4 0.4 .4 .3 .3 .3 .3 .4 .3 0.4 .4 .4 .4 .4 .4 .4 .4 0.4 .5 .3 .3 .3 .3 .4 .3 ¥0.5 ¥.8 .5 .3 .5 ¥2.0 1.0 1.2 0 0 ¥.6 .6 .5 ¥.5 ¥.1 .2 2.1 .1 1.3 .2 ¥4.1 ¥3.0 ¥.8 1.7 ¥0.1 .1 .1 .1 .1 ¥.1 ¥.4 ¥.1 7.5 ¥.1 4.3 .5 ¥13.5 ¥10.6 ¥1.6 7.0 0.4 .2 .3 .4 .3 .3 .2 .2 3.7 ¥.5 2.5 .4 ¥7.3 ¥6.7 ¥.2 4.2 0.2 .3 .2 .2 .2 .1 .1 .1 .......... 5.1 .......... .......... 3.0 .......... .......... ¥2.0 5.7 5.7 4.9 3.8 .6 ¥2.7 ¥3.7 .2 4.1 4.7 4.3 4.8 3.1 1.0 .0 .4 4.2 4.3 4.1 3.8 2.1 1.3 2.0 2.5 .2 .4 .6 .4 .7 .7 .8 .3 .4 .3 .2 .4 .2 .2 .2 .3 .3 .1 .3 .2 .4 .4 .3 .2 .3 .2 .3 .3 .2 .1 .3 1.2 1.2 .0 .0 .3 .5 ¥1.0 ¥.3 ¥.3 ¥.8 .1 2.8 1.2 2.8 ¥.1 ¥.2 .2 .1 ¥.3 ¥3.0 .3 10.6 4.7 10.4 .8 .5 .1 .4 .3 ¥1.5 .9 5.9 2.4 5.4 .3 .2 .1 .2 .1 .......... .......... 3.8 .......... .......... 2.7 4.0 4.7 5.7 7.0 .0 .1 2.4 4.2 5.5 2.1 2.4 2.8 2.6 2.7 1 Includes items not shown separately. fuels—gas (piped), electricity, fuel oil, etc.—and motor fuel. Motor oil, coolant, etc., excluded beginning 1983. 2 Household 3 Quarterly changes are shown in the last month of the quarter. Source: Department of Labor, Bureau of Labor Statistics. 24 VerDate Aug 31 2005 01:19 Jul 12, 2007 Jkt 036496 PO 00000 Frm 00024 Fmt 3401 Sfmt 3401 E:\HR\OC\ECOIND.024 ECOIND PRICES RECEIVED AND PAID BY FARMERS In June, prices received by farmers rose 2.2 percent; prices paid by farmers fell 0.6 percent. (Data are not seasonally adjusted.) [1990–92=100; not seasonally adjusted] Prices received by farmers hmoore on PRODPC68 with HMECOIND 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 All farm products Livestock and products Crops All commodities, services, interest, taxes, and wage rates 1 Production items, interest, taxes, and wage rates Production items Ratio 2 .............................. .............................. ............................... .............................. .............................. .............................. .............................. .............................. .............................. .............................. 107 102 96 96 102 98 107 119 116 116 115 107 97 96 99 105 111 117 112 120 98 97 95 97 106 90 103 122 120 112 118 115 115 120 123 123 128 133 142 148 118 114 113 118 122 121 125 132 141 148 119 113 111 116 120 119 124 131 139 146 90 89 83 80 83 79 84 89 82 78 2006: June ................... July .................... Aug .................... Sept ................... Oct ..................... Nov .................... Dec .................... 118 118 120 119 116 119 120 127 127 125 121 115 122 127 110 111 114 116 116 116 113 149 149 149 149 148 148 149 149 149 149 148 148 148 149 147 147 147 146 145 145 147 79 79 81 80 78 80 81 2007: Jan ..................... Feb .................... Mar .................... Apr .................... May r .................. June ................... 124 128 134 134 138 141 131 138 145 141 143 146 116 120 126 129 134 136 151 153 156 157 157 156 152 153 156 158 158 157 148 150 153 156 156 154 82 84 86 85 88 90 1 Includes items not shown separately. ratio of index of prices received by farmers to index of prices paid, interest, taxes, and wage rates. 2 Percentage NOTE.—The official indexes are published on a 1910–14 base as required by law. The indexes have been converted to a 1990–92=100 base to facilitate comparison with other indexes. Source: Department of Agriculture. 25 VerDate Aug 31 2005 01:19 Jul 12, 2007 Jkt 036496 PO 00000 Frm 00025 Fmt 3401 Sfmt 3401 E:\HR\OC\ECOIND.025 ECOIND G:\GRAPHICS\eecoind.025 Period Prices paid by farmers MONEY, CREDIT, AND SECURITY MARKETS MONEY STOCK AND DEBT MEASURES In May, M2 rose. [Averages of daily figures, except debt end-of-period basis; billions of dollars, seasonally adjusted] M1 M2 Sum of currency, demand deposits, travelers checks, and other checkable deposits (OCDs) M1 plus retail MMMF balances, savings deposits (including MMDAs), and small time deposits ....................................................................................... ....................................................................................... ....................................................................................... ....................................................................................... ....................................................................................... ....................................................................................... ....................................................................................... ....................................................................................... ....................................................................................... ....................................................................................... 1,072.8 1,095.9 1,123.0 1,087.7 1,182.0 1,219.5 1,305.5 1,375.1 1,373.0 1,366.3 4,038.8 4,385.1 4,645.9 4,924.5 5,436.7 5,781.5 6,071.6 6,419.1 6,679.7 7,022.1 15,127.2 16,153.8 17,222.8 18,080.8 19,200.2 20,581.3 22,294.7 24,307.2 26,582.3 28,727.7 ¥0.8 2.2 2.5 ¥3.1 8.7 3.2 7.1 5.3 ¥.2 ¥.5 5.6 8.6 5.9 6.0 10.4 6.3 5.0 5.7 4.1 5.1 5.3 6.8 6.4 4.9 6.3 7.2 8.2 9.0 9.4 8.1 2006: May r ....................................................................................... June r ..................................................................................... July r ...................................................................................... Aug r ....................................................................................... Sept r ...................................................................................... Oct r ........................................................................................ Nov r ....................................................................................... Dec r ....................................................................................... 2007: Jan r ....................................................................................... Feb r ....................................................................................... Mar r ....................................................................................... Apr r ....................................................................................... May ........................................................................................ 1,387.9 1,376.5 1,372.6 1,372.7 1,364.5 1,369.5 1,371.0 1,366.3 1,372.2 1,360.8 1,369.8 1,378.5 1,377.4 6,800.7 6,825.4 6,849.5 6,875.4 6,897.0 6,946.7 6,982.2 7,022.1 7,073.6 7,095.4 7,150.2 7,204.2 7,227.3 ............................ 27,694.6 ............................ ............................ 28,151.8 ............................ ............................ 28,727.7 ............................ ............................ 29,255.0 ............................ ............................ 1.8 .5 ¥.9 ¥.3 ¥2.8 ¥1.6 ¥2.4 ¥1.5 ¥.1 ¥1.7 .8 1.3 .9 4.4 4.4 3.7 3.8 3.8 4.6 5.3 5.8 6.5 6.4 7.3 7.4 7.0 ...................... 7.5 ...................... ...................... 6.9 ...................... ...................... 8.2 ...................... ...................... 7.3 ...................... ...................... hmoore on PRODPC68 with HMECOIND 1997: 1998: 1999: 2000: 2001: 2002: 2003: 2004: 2005: 2006: Dec r Dec r Dec r Dec r Dec r Dec r Dec r Dec r Dec r Dec r 1 Quarterly data; shown in last month of quarter. End-of-year data are for fourth quarter. Consists of outstanding credit market debt of the U.S. Government, State and local governments, and private nonfinancial sectors; data from flow of funds accounts. 2 Annual changes are from December to December and monthly changes are from 6 months earlier at a simple annual rate. 3 Annual changes are from fourth quarter to fourth quarter. Quarterly changes are from previous quarter at an annual rate. Debt of domestic nonfinancial sectors 1 01:19 Jul 12, 2007 Jkt 036496 PO 00000 Frm 00026 Fmt 3401 M1 M2 From previous period 3 Debt NOTE.—The Federal Reserve previously announced that the M3 monetary aggregate and most of its components would no longer be published. Institutional money market mutual funds will continue to be published as a memorandum item in the H.6 release, and the component on large-denomination time deposits will be published in other Federal Reserve Board releases. For details, see H.6 release of March 23, 2006. See p. 27 for components. Source: Board of Governors of the Federal Reserve System. 26 VerDate Aug 31 2005 Percent change From year or 6 months earlier 2 Sfmt 3401 E:\HR\OC\ECOIND.026 ECOIND g:\graphics\eecoind.026 Period Debt COMPONENTS OF MONEY STOCK [Averages of daily figures; billions of dollars, seasonally adjusted] Period 1997: 1998: 1999: 2000: 2001: 2002: 2003: 2004: 2005: 2006: Dec r Dec r Dec r Dec r Dec r Dec r Dec r Dec r Dec r Dec r Currency Nonbank travelers checks Demand deposits Other checkable deposits (OCDs) Savings deposits 1 At commercial banks Total At commercial banks Total At thrift institutions Small-denomination time deposits 2 At thrift institutions At commercial banks Total At thrift institutions Retail money funds Institutional money funds 3 .... .... .... .... .... .... .... .... .... .... 425.3 460.5 517.8 531.2 581.2 626.3 662.7 698.0 724.5 749.6 8.4 8.5 8.6 8.3 8.0 7.8 7.7 7.6 7.2 6.7 393.8 376.9 353.3 309.9 335.4 306.1 325.4 342.3 324.0 305.9 245.2 249.9 243.3 238.3 257.4 279.3 309.7 327.3 317.4 304.0 148.4 143.9 139.7 133.1 141.9 154.2 175.0 186.6 180.1 176.5 96.8 106.0 103.7 105.2 115.4 125.1 134.7 140.8 137.3 127.5 1,401.5 1,604.3 1,740.0 1,878.3 2,312.6 2,777.9 3,168.9 3,517.7 3,618.8 3,694.3 1,022.8 1,187.9 1,288.8 1,424.2 1,739.3 2,060.2 2,337.5 2,630.6 2,769.6 2,902.1 378.8 416.3 451.2 454.1 573.3 717.7 831.3 887.1 849.2 792.2 968.6 952.4 956.6 1,045.1 974.1 893.1 814.4 822.5 982.7 1,155.5 625.5 626.3 636.8 700.0 635.2 590.6 540.9 550.5 643.0 756.9 343.2 326.0 319.8 345.1 338.9 302.4 273.5 272.0 339.7 398.6 595.9 732.6 826.3 913.5 968.0 891.1 782.9 703.8 705.2 806.0 396.9 545.3 646.2 801.1 1,207.0 1,258.7 1,125.5 1,075.6 1,142.1 1,338.3 2006: May r .... June r ... July r .... Aug r .... Sept r ... Oct r ..... Nov r .... Dec r .... 740.7 740.2 740.6 741.8 742.3 744.5 747.4 749.6 7.0 7.0 6.8 6.8 6.8 6.8 6.8 6.7 325.3 318.5 315.5 316.4 309.1 312.0 312.7 305.9 315.0 310.8 309.6 307.6 306.3 306.3 304.3 304.0 179.7 177.7 176.8 175.6 175.6 177.8 177.1 176.5 135.3 133.1 132.8 132.0 130.7 128.4 127.2 127.5 3,622.2 3,630.7 3,631.8 3,629.5 3,633.4 3,652.6 3,667.4 3,694.3 2,776.9 2,785.4 2,789.1 2,781.1 2,790.2 2,849.2 2,868.1 2,902.1 845.2 845.3 842.7 848.4 843.3 803.4 799.3 792.2 1,061.8 1,076.4 1,094.2 1,111.7 1,128.1 1,142.4 1,150.8 1,155.5 694.4 703.0 713.8 723.2 731.0 748.4 753.5 756.9 367.3 373.4 380.4 388.5 397.1 393.9 397.4 398.6 728.9 741.9 750.9 761.4 771.0 782.3 792.9 806.0 1,195.7 1,211.4 1,225.8 1,246.9 1,269.1 1,291.9 1,309.3 1,338.3 2007: Jan r ..... Feb r .... Mar r .... Apr r ..... May ..... 750.3 749.8 751.2 753.4 754.7 6.7 6.6 6.6 6.6 6.5 306.8 300.0 302.9 306.3 305.7 308.5 304.4 309.1 312.2 310.5 179.1 176.5 177.5 179.8 178.0 129.4 127.9 131.7 132.4 132.5 3,723.4 3,745.1 3,771.8 3,806.8 3,821.1 2,920.0 2,931.9 2,924.5 2,939.1 2,941.7 803.4 813.3 847.3 867.7 879.4 1,157.8 1,163.1 1,165.9 1,171.2 1,174.4 757.4 761.9 751.2 753.0 754.3 400.4 401.2 414.7 418.2 420.1 820.2 826.4 842.6 847.7 854.3 1,333.4 1,342.5 1,371.6 1,410.0 1,449.1 1 Savings deposits including money market deposit accounts (MMDAs). deposits are those issued in amounts of less than $100,000. money funds are not part of non-M1 M2. NOTE.—See Note, p. 26. Source: Board of Governors of the Federal Reserve System. 2 Small-denomination 3 Institutional AGGREGATE RESERVES AND MONETARY BASE [Averages of daily figures 1; millions of dollars; seasonally adjusted, except as noted by NSA] Adjusted for changes in reserve requirements Period Nonborrowed 3 Total 2 1997: 1998: 1999: 2000: 2001: 2002: 2003: 2004: 2005: 2006: Dec r Dec r Dec r Dec r Dec r Dec r Dec r Dec r Dec r Dec r Required Excess (NSA) Monetary base Total Primary Secondary Seasonal Adjustment 4 ................................ ................................ ................................ ................................ ................................ ................................ ................................ ................................ ................................ ................................ 46,875 45,168 42,115 38,680 41,420 40,357 42,672 46,600 45,152 43,314 46,551 45,052 41,795 38,471 41,354 40,278 42,626 46,538 44,983 43,123 45,189 43,656 40,821 37,356 39,777 38,349 41,625 44,691 43,251 41,510 1,687 1,512 1,294 1,325 1,643 2,008 1,047 1,909 1,901 1,804 479,944 513,934 593,842 584,930 635,575 681,668 720,519 759,625 787,906 812,574 324 117 320 210 67 80 46 63 169 191 ................ ................ ................ ................ ................ ................ 17 11 97 111 ................ ................ ................ ................ ................ ................ 0 0 0 0 79 15 67 111 33 45 29 52 72 80 245 101 179 99 34 35 ................ ................ ................ ................ 2006: June r ............................... July r ................................ Aug r ................................ Sept r ............................... Oct r ................................. Nov r ................................ Dec r ................................ 45,172 44,122 42,832 43,088 42,891 43,185 43,314 44,920 43,771 42,463 42,685 42,662 43,025 43,123 43,477 42,682 41,447 41,460 41,268 41,493 41,510 1,696 1,440 1,385 1,628 1,623 1,691 1,804 804,374 803,996 804,592 805,323 806,897 810,082 812,574 253 350 369 403 229 160 191 16 39 26 66 24 48 111 0 0 0 0 0 0 0 237 312 343 338 205 112 80 ................ ................ ................ ................ ................ ................ ................ 2007: Jan r ................................. Feb r ................................ Mar ................................. Apr .................................. May ................................. June ................................ 42,180 42,437 42,337 42,715 43,155 43,579 41,969 42,407 42,283 42,636 43,052 43,391 40,670 40,934 40,697 41,187 41,715 41,893 1,510 1,502 1,640 1,528 1,440 1,686 813,387 812,166 813,792 816,072 817,897 819,118 211 30 54 79 103 187 187 8 21 32 14 43 0 0 5 0 0 0 24 22 28 48 90 145 ................ ................ ................ ................ ................ ................ 1 Data are prorated averages of biweekly (maintenance period) averages of daily figures. Reserves and monetary base incorporate adjustments for discontinuities, or ‘‘breaks,’’ associated with changes in reserve requirements. 2 Seasonally adjusted break-adjusted required reserves plus unadjusted excess reserves. hmoore on PRODPC68 with HMECOIND Borrowings of depository institutions from the Federal Reserve (NSA) Reserves of depository institutions 3 Seasonally adjusted break-adjusted total reserves less unadjusted total borrowings of depository institutions from the Federal Reserve. 4 Discontinued after January 8, 2003. Source: Board of Governors of the Federal Reserve System. 27 VerDate Aug 31 2005 01:19 Jul 12, 2007 Jkt 036496 PO 00000 Frm 00027 Fmt 3401 Sfmt 3401 E:\HR\OC\ECOIND.027 ECOIND BANK CREDIT AT ALL COMMERCIAL BANKS Total commercial bank loans and leases rose 0.7 percent in May; commercial and industrial loans rose 1.3 percent. [Billions of dollars, seasonally adjusted 1] Securities in bank credit Dec r .......... Dec r .......... Dec r .......... Dec r .......... Dec r .......... Dec r .......... Dec r .......... Dec r .......... Dec r .......... Dec r .......... May r ......... June r ........ July r ......... Aug r ......... Sept r ......... Oct r .......... Nov r ......... Dec r .......... 2007: Jan r .......... Feb r .......... Mar r ......... Apr r .......... May .......... hmoore on PRODPC68 with HMECOIND 1997: 1998: 1999: 2000: 2001: 2002: 2003: 2004: 2005: 2006: 2006: Total bank credit 4,097.2 4,531.3 4,760.7 5,217.5 5,420.0 5,882.8 6,258.1 6,796.1 7,507.8 8,325.0 7,928.6 7,936.8 7,984.4 8,044.1 8,063.2 8,213.4 8,264.6 8,325.0 8,362.9 8,442.2 8,430.5 8,490.8 8,540.8 Total securities U.S. Treasury and agency securities 1,099.4 1,238.3 1,282.0 1,348.4 1,487.2 1,716.4 1,849.5 1,935.8 2,050.8 2,227.6 2,206.4 2,189.2 2,193.9 2,205.7 2,191.6 2,216.3 2,228.1 2,227.6 2,219.5 2,239.5 2,266.6 2,278.2 2,282.7 755.4 797.0 812.6 790.4 847.1 1,022.6 1,104.8 1,153.7 1,142.5 1,200.5 1,196.3 1,202.1 1,213.8 1,222.3 1,211.0 1,221.4 1,216.9 1,200.5 1,201.5 1,205.5 1,212.5 1,188.1 1,175.4 Real estate CommerOther Total loans cial and securities and leases 2 industrial 344.0 441.2 469.4 557.9 640.1 693.8 744.7 782.1 908.3 1,027.1 1,010.1 987.2 980.1 983.5 980.6 994.9 1,011.2 1,027.1 1,018.1 1,034.0 1,054.1 1,090.0 1,107.3 2,997.8 3,293.0 3,478.8 3,869.1 3,932.8 4,166.3 4,408.5 4,860.3 5,457.0 6,097.4 5,722.2 5,747.6 5,790.5 5,838.4 5,871.6 5,997.1 6,036.5 6,097.4 6,143.3 6,202.7 6,164.0 6,212.6 6,258.1 1 Data are prorated averages of Wednesday values for domestically chartered commercial banks, branches and agencies of foreign banks, New York State investment companies (through September 1996), and Edge Act and agreement corporations. Data are adjusted for breaks caused by reclassifications of assets and liabilities. 848.0 940.9 992.3 1,080.3 1,019.6 956.8 897.7 921.6 1,041.7 1,195.0 1,113.5 1,121.3 1,132.8 1,161.9 1,166.3 1,179.6 1,184.8 1,195.0 1,202.1 1,211.2 1,219.6 1,226.4 1,242.3 Total 1,246.3 1,336.9 1,475.8 1,659.1 1,786.9 2,030.6 2,225.5 2,556.7 2,918.9 3,357.2 3,049.8 3,091.5 3,130.2 3,131.3 3,153.0 3,303.6 3,324.4 3,357.2 3,380.8 3,413.9 3,362.6 3,385.2 3,394.7 Revolving home equity 105.0 103.9 101.5 130.2 155.8 213.7 281.1 400.1 446.8 472.0 442.5 444.9 452.2 448.2 450.7 467.1 468.7 472.0 474.0 471.6 463.2 458.7 458.7 Consumer 1,141.3 1,232.9 1,374.3 1,528.9 1,631.1 1,817.0 1,944.4 2,156.7 2,472.1 2,885.2 2,607.3 2,646.6 2,678.1 2,683.1 2,702.3 2,836.5 2,855.7 2,885.2 2,906.8 2,942.3 2,899.4 2,926.6 2,936.0 01:19 Jul 12, 2007 Jkt 036496 PO 00000 Frm 00028 Fmt 3401 Other 502.5 496.9 490.8 540.3 557.5 588.1 645.4 697.5 708.3 737.5 735.7 730.6 724.0 729.8 727.8 724.9 730.1 737.5 745.7 745.5 742.6 748.6 751.9 94.4 145.3 149.8 177.3 146.0 190.2 217.7 216.4 264.8 293.3 281.5 259.6 258.2 265.9 277.4 280.1 288.7 293.3 297.3 310.1 314.6 313.2 326.7 306.6 373.1 370.1 412.1 422.9 400.7 422.4 468.1 523.4 514.4 541.6 544.4 545.3 549.5 547.1 508.9 508.6 514.4 517.4 522.0 524.6 539.2 542.5 2 Excludes Federal funds sold to, reverse repurchase agreements (RPs) with, and loans to commercial banks in the United States. Source: Board of Governors of the Federal Reserve System. 28 VerDate Aug 31 2005 Security Other Sfmt 3401 E:\HR\OC\ECOIND.028 ECOIND g:\graphics\eecoind.028 Period Loans and leases in bank credit SOURCES AND USES OF FUNDS, NONFARM NONFINANCIAL CORPORATE BUSINESS [Billions of dollars; quarterly data at seasonally adjusted annual rates] Sources Uses External (Net increase in liabilities) Funds raised in markets Period Total 1997 .................. 1998 .................. 1999 ................... 2000 ................... 2001 ................... 2002 r ................. 2003 r ................. 2004 r ................. 2005 r ................. 2006 r ................. 2005: I r ............ II r .......... III r ......... IV r ......... 2006: I r ............ II r .......... III r ......... IV r ......... 2007: I p ........... 995.4 1,298.1 1,718.6 1,955.4 850.2 896.2 844.7 1,500.5 1,422.2 1,462.6 1,246.1 1,525.9 1,488.5 1,428.3 1,394.9 1,460.7 1,362.0 1,632.8 1,419.3 Credit market instruments Internal 1 711.9 682.1 731.0 718.0 755.0 811.3 831.3 891.5 986.2 1,090.6 898.8 970.1 1,063.9 1,012.0 1,088.5 1,065.4 1,108.7 1,099.7 1,087.3 Total 283.5 616.0 987.6 1,237.4 95.2 84.9 13.4 609.0 436.0 372.0 347.3 555.8 424.6 416.3 306.4 395.3 253.3 533.1 332.0 Capital expenditures 3 Total Total net funds raised Net new equity issues 214.1 181.4 259.8 223.6 167.1 ¥28.8 46.7 38.4 ¥120.0 ¥147.6 17.7 ¥92.5 ¥178.2 ¥226.8 ¥84.4 ¥173.5 ¥261.0 ¥71.4 10.5 ¥77.4 ¥215.5 ¥110.4 ¥118.2 ¥48.1 ¥41.6 ¥42.0 ¥126.6 ¥363.4 ¥602.1 ¥264.3 ¥300.1 ¥469.9 ¥419.2 ¥569.6 ¥602.4 ¥535.2 ¥701.2 ¥510.4 Securities and mortgages Total 291.5 396.9 370.2 341.8 215.2 12.8 88.7 165.0 243.4 454.5 282.0 207.6 291.7 192.4 485.2 428.9 274.2 629.8 520.9 1 Profits before tax (book) less taxes on corporate income, less net dividends, plus capital consumption allowance (consumption of fixed capital plus capital consumption adjustment), foreign earnings retained abroad, inventory valuation adjustment, and net capital transfers. 2 Includes trade payables, taxes payable, and miscellaneous liabilities (foreign direct investment in the U.S., pension fund contributions payable, and other). 186.9 242.2 269.4 186.1 404.0 167.1 208.3 129.2 151.4 342.9 96.0 90.0 227.1 192.3 317.3 309.8 295.1 449.4 424.1 Loans and shortterm paper Other 2 104.6 154.9 100.8 155.8 ¥188.8 ¥154.1 ¥119.6 35.7 91.9 111.7 185.9 117.6 64.5 .0 167.8 119.1 ¥20.9 180.3 96.8 69.3 434.5 727.9 1,013.8 ¥71.8 113.6 ¥33.2 570.7 556.0 519.7 329.6 648.3 602.9 643.2 390.9 568.9 514.3 604.5 321.6 1,016.2 1,348.4 1,833.8 2,137.7 980.2 867.2 832.5 1,605.5 1,304.0 1,373.5 1,269.5 1,296.4 1,330.9 1,319.4 1,227.6 1,412.3 1,255.7 1,598.4 1,353.8 743.8 778.5 863.9 928.5 802.6 737.1 749.9 822.4 881.8 1,011.8 887.0 849.7 857.2 933.5 969.7 1,005.8 1,028.2 1,043.4 972.8 Increase in financial assets 272.4 569.9 969.9 1,209.2 177.6 130.1 82.6 783.1 422.2 361.7 382.5 446.7 473.7 385.9 257.9 406.5 227.5 555.0 381.0 Discrepancy (sources less uses) ¥20.8 ¥50.4 ¥115.2 ¥182.4 ¥130.0 28.9 12.2 ¥105.0 118.1 89.1 ¥23.6 229.5 157.6 108.9 167.3 48.5 106.3 34.4 65.5 3 Nonresidential fixed investment plus residential fixed investment, inventory change with inventory valuation adjustment, and nonproduced nonfinancial assets. Source: Board of Governors of the Federal Reserve System. CONSUMER CREDIT [Billions of dollars; seasonally adjusted] Consumer credit outstanding (end of period) Period Total Dec ............................................................................... Dec ............................................................................... Dec ............................................................................... Dec ............................................................................... Dec ............................................................................... Dec ............................................................................... Dec ............................................................................... Dec ............................................................................... Dec ............................................................................... Dec ............................................................................... May .............................................................................. June ............................................................................. July .............................................................................. Aug .............................................................................. Sept .............................................................................. Oct ............................................................................... Nov ............................................................................... Dec ............................................................................... 2007: Jan r .............................................................................. Feb r .............................................................................. Mar r ............................................................................. Apr ............................................................................... May p ............................................................................. hmoore on PRODPC68 with HMECOIND 1997: 1998: 1999: 2000: 2001: 2002: 2003: 2004: 2005: 2006: 2006: Revolving 1,323.3 1,419.4 1,532.7 1,722.4 1,871.9 1,984.1 2,087.8 2,201.8 2,295.0 2,398.0 2,330.9 2,342.2 2,357.1 2,370.4 2,373.6 2,373.8 2,393.9 2,398.0 2,406.9 2,412.4 2,425.4 2,427.7 2,440.6 1 Change based on data in billions of dollars as shown here. For year-end data, change from preceding year-end; for monthly data, change from preceding month. 2 Includes automobile loans and all other loans not included in revolving credit, such as loans for mobile homes, education, boats, trailers, or vacations. These loans may be secured or unsecured. 538.0 579.5 609.4 683.0 716.4 749.0 771.1 801.3 826.6 878.7 837.2 845.5 851.3 857.6 860.5 865.6 876.0 878.7 879.0 881.0 887.4 887.6 894.8 Nonrevolving 2 785.3 839.9 923.3 1,039.4 1,155.5 1,235.1 1,316.7 1,400.6 1,468.4 1,519.4 1,493.7 1,496.7 1,505.8 1,512.8 1,513.1 1,508.3 1,517.9 1,519.4 1,527.9 1,531.4 1,538.0 1,540.1 1,545.8 Net change in consumer credit outstanding 1 Total 70.0 96.1 113.3 189.7 149.5 112.2 103.7 114.0 93.2 103.0 15.4 11.3 14.9 13.3 3.2 .2 20.1 4.1 8.9 5.5 13.0 2.3 12.9 Revolving 30.5 41.5 29.9 73.6 33.4 32.6 22.1 30.2 25.3 52.1 8.4 8.3 5.8 6.3 2.9 5.1 10.4 2.7 .3 2.0 6.4 .2 7.2 Nonrevolving 2 39.5 54.6 83.4 116.1 116.1 79.6 81.6 83.9 67.8 51.0 6.9 3.0 9.1 7.0 .3 ¥4.8 9.6 1.5 8.5 3.5 6.6 2.1 5.7 NOTE.—Effective October 7, 2003 data beginning 1977 include student loans extended by the Federal Government and by SLM Holding Corporation. Source: Board of Governors of the Federal Reserve System. 29 VerDate Aug 31 2005 01:19 Jul 12, 2007 Jkt 036496 PO 00000 Frm 00029 Fmt 3401 Sfmt 3401 E:\HR\OC\ECOIND.029 ECOIND INTEREST RATES AND BOND YIELDS Interest rates were mixed in June. [Percent per annum] Constant hmoore on PRODPC68 with HMECOIND Period 3-month bills (new issues) 1 1997 ....................... 1998 ....................... 1999 ....................... 2000 ....................... 2001 ....................... 2002 ....................... 2003 ....................... 2004 ....................... 2005 ....................... 2006 ....................... 2006: June ............ July ............. Aug ............. Sept ............. Oct .............. Nov ............. Dec .............. 2007: Jan .............. Feb .............. Mar ............. Apr .............. May ............. June ............ Week ended: 2007: June 9 ......... 16 ....... 23 ....... 30 ....... July 7 .......... 3-year maturities 2 10-year 30-year Highgrade municipal bonds (Standard & Poor’s) 3 Corporate Aaa bonds (Moody’s) Discount window (N.Y. F.R. Bank) 4 5 Primary credit 5.07 4.81 4.66 5.85 3.45 1.62 1.02 1.38 3.16 4.73 4.79 4.96 4.98 4.82 4.89 4.95 4.85 4.96 5.02 4.97 4.88 4.77 4.63 6.10 5.14 5.49 6.22 4.09 3.10 2.10 2.78 3.93 4.77 5.09 5.07 4.85 4.69 4.72 4.64 4.58 4.79 4.75 4.51 4.60 4.69 5.00 6.35 5.26 5.65 6.03 5.02 4.61 4.01 4.27 4.29 4.80 5.11 5.09 4.88 4.72 4.73 4.60 4.56 4.76 4.72 4.56 4.69 4.75 5.10 6.61 5.58 5.87 5.94 5.49 * * * * 4.91 5.15 5.13 5.00 4.85 4.85 4.69 4.68 4.85 4.82 4.72 4.87 4.90 5.20 5.55 5.12 5.43 5.77 5.19 5.05 4.73 4.63 4.29 4.42 4.64 4.64 4.43 4.30 4.32 4.17 4.17 4.29 4.21 4.18 4.32 4.37 4.64 7.26 6.53 7.04 7.62 7.08 6.49 5.67 5.63 5.24 5.59 5.89 5.85 5.68 5.51 5.51 5.33 5.32 5.40 5.39 5.30 5.47 5.47 5.79 .............. .............. .............. .............. .............. .............. 2.12 2.34 4.19 5.96 6.25 6.25 6.25 6.25 6.25 6.25 6.25 6.25 6.25 6.25 6.25 6.25 6.25 4.71 4.64 4.49 4.69 4.79 4.98 5.09 5.00 4.93 4.95 5.02 5.20 5.14 5.09 5.10 5.12 5.29 5.25 5.19 5.19 4.51 4.71 4.66 4.66 4.64 5.67 5.89 5.85 5.80 5.80 6.25 6.25 6.25 6.25 6.25 1 Bank-discount basis. on actively traded issues adjusted to constant maturities. data are Wednesday figures. 4 Discount window borrowing for primary credit and discount rate (adjustment credit). The rate for primary credit replaced the rate for adjustment credit. 5 Average effective rate for year; rate in effect at end of month or week. 6 Daily effective rate; weighted average of rates on brokered trades. 2 Yields 3 Weekly Discount rate Prime rate charged by banks 5 5.00 4.92 4.62 5.73 3.40 1.17 01:19 Jul 12, 2007 Jkt 036496 PO 00000 Frm 00030 Fmt 3401 Newhome mortgage yields (FHFB) 7 * * * * * * * * * * * * * * * * * 8.44 8.35 8.00 9.23 6.91 4.67 4.12 4.34 6.19 7.96 8.25 8.25 8.25 8.25 8.25 8.25 8.25 8.25 8.25 8.25 8.25 8.25 8.25 5.46 5.35 4.97 6.24 3.88 1.67 1.13 1.35 3.22 4.97 4.99 5.24 5.25 5.25 5.25 5.25 5.24 5.25 5.26 5.26 5.25 5.25 5.25 7.71 7.07 7.04 7.52 7.00 6.43 5.80 5.77 5.94 6.63 6.79 6.81 6.87 6.72 6.69 6.55 6.37 6.35 6.31 6.22 6.21 6.22 .............. * * * * * 8.25 8.25 8.25 8.25 8.25 5.24 5.26 5.25 5.25 5.28 .............. .............. .............. .............. 7 Effective rate (in the primary market) on conventional mortgages, reflecting fees and charges as well as contract rate and assumed, on the average, repayment at end of 10 years. *Discount rate (adjustment credit) series was discontinued after January 8, 2003. Series for 30-year constant maturity was discontinued on February 18, 2002, and reintroduced on February 9, 2006. Sources: Department of the Treasury, Board of Governors of the Federal Reserve System, Federal Housing Finance Board, Moody’s Investors Service, and Standard & Poor’s. 30 VerDate Aug 31 2005 Federal funds rate 6 Sfmt 3401 E:\HR\OC\ECOIND.030 ECOIND g:\graphics\eecoind.030 U.S. Treasury security yields COMMON STOCK PRICES AND YIELDS Stock prices were mixed in June. Common stock prices 1 New York Stock Exchange indexes 2 3 (December 31, 2002=5,000) 1997 ......................................................... 1998 ......................................................... 1999 ......................................................... 2000 ......................................................... 2001 ......................................................... 2002 ......................................................... 2003 ......................................................... 2004 ......................................................... 2005 ......................................................... 2006 ......................................................... 2006: June ............................................. July .............................................. Aug ............................................... Sept .............................................. Oct ............................................... Nov ............................................... Dec ............................................... 2007: Jan .............................................. Feb ............................................... Mar .............................................. Apr ............................................... May .............................................. June ............................................. Week ended: 2007: June 9 .......................................... 16 ........................................ 23 ........................................ 30 ........................................ July 7 ........................................... Nasdaq composite index (Feb. 5, 1971=100) 6 Dividendprice ratio Earningsprice ratio Composite Financial Energy Health Care 4,827.35 5,818.26 6,546.81 6,805.89 6,397.85 5,578.89 5,447.46 6,612.62 7,349.00 8,357.99 7,985.59 8,103.97 8,294.89 8,383.29 8,651.02 8,856.30 9,089.55 9,132.04 9,345.98 9,120.57 9,555.98 9,822.99 9,896.98 ................ ................ ................ ................ ................ ................ 5,583.00 6,822.18 7,383.70 8,654.40 8,225.14 8,340.25 8,574.68 8,789.30 9,101.77 9,251.53 9,461.77 9,575.21 9,732.63 9,342.66 9,658.88 9,864.01 9,754.29 .................. .................. .................. .................. .................. .................. 5,273.90 6,952.36 9,377.84 11,206.94 10,690.86 11,360.86 11,610.65 10,807.75 11,020.11 11,657.36 12,078.39 11,381.56 11,658.11 11,503.16 12,441.16 13,031.00 13,639.81 ................ ................ ................ ................ ................ ................ 5,288.67 5,924.80 6,283.96 6,685.06 6,395.87 6,566.19 6,763.81 6,910.95 6,975.17 6,845.16 6,931.01 7,083.45 7,174.03 6,997.30 7,332.01 7,474.48 7,268.42 7,441.15 8,625.52 10,464.88 10,734.90 10,189.13 9,226.43 8,993.59 10,317.39 10,547.67 11,408.67 10,997.97 11,032.53 11,257.35 11,533.60 11,963.12 12,185.15 12,377.62 12,512.89 12,631.48 12,268.53 12,754.80 13,407.76 13,480.21 873.43 1,085.50 1,327.33 1,427.22 1,194.18 993.94 965.23 1,130.65 1,207.23 1,310.46 1,253.12 1,260.24 1,287.15 1,317.81 1,363.38 1,388.63 1,416.42 1,424.16 1,444.79 1,406.95 1,463.65 1,511.14 1,514.49 1,469.49 1,794.91 2,728.15 3,783.67 2,035.00 1,539.73 1,647.17 1,986.53 2,099.32 2,263.41 2,137.41 2,086.21 2,117.77 2,221.94 2,330.17 2,408.70 2,431.91 2,453.19 2,479.86 2,401.49 2,499.57 2,562.14 2,595.40 1.77 1.49 1.25 1.15 1.32 1.61 1.77 1.72 1.83 1.87 1.96 1.94 1.92 1.87 1.83 1.80 1.79 1.81 1.82 1.89 1.84 1.81 1.81 4.57 3.46 3.17 3.63 2.95 2.92 3.84 4.89 5.36 5.78 5.86 .................. .................. 5.88 .................. .................. 5.75 .................. .................. r 5.85 .................. .................. .................. 9,901.51 9,874.09 9,949.37 9,833.83 10,032.92 9,825.72 9,771.41 9,783.33 9,591.40 9,719.36 13,453.05 13,557.91 13,877.49 13,699.23 14,168.67 7,350.44 7,268.68 7,229.13 7,185.88 7,278.49 13,485.71 13,479.10 13,528.78 13,389.67 13,572.56 1,517.18 1,514.73 1,520.47 1,501.21 1,525.04 2,586.32 2,586.07 2,611.85 2,593.64 2,650.10 1.80 1.80 1.81 1.82 1.80 .................. .................. .................. .................. .................. 1 Average hmoore on PRODPC68 with HMECOIND Dow Jones industrial average 4 of daily closing prices. all the stocks (nearly 3,000) listed on the NYSE. January 9, 2003, the NYSE relaunched the composite index with changes in methodology, definitions, and based on Dec. 31, 2002=5,000. Effective January 8, 2004 new indexes for Financial, Energy, and Health Care were introduced by the NYSE. Previous indexes shown for Industrial, Transportation, Utility, and Finance were discontinued. 4 Includes 30 stocks. 2 Includes 3 Effective 5 Includes 500 stocks. over 5,000 stocks. & Poor’s series. Dividend-price ratios based on Wednesday closing prices. Earnings-price ratios based on prices at end of quarter. 6 Includes 7 Standard Sources: New York Stock Exchange, Dow Jones & Company, Inc., Standard & Poor’s, and Nasdaq Stock Market. 31 VerDate Aug 31 2005 01:19 Jul 12, 2007 Jkt 036496 PO 00000 Frm 00031 Fmt 3401 Sfmt 3401 E:\HR\OC\ECOIND.031 ECOIND g:\graphics\eecoind.031 Period Common stock yields (percent) 7 Standard & Poor’s composite index (1941– 43=10) 5 FEDERAL FINANCE FEDERAL RECEIPTS, OUTLAYS, AND DEBT In the first 8 months of fiscal 2007, there was a deficit of $148.5 billion, compared with a deficit of $227.0 billion a year earlier. [Billions of dollars] Total Outlays Surplus or deficit (¥) Receipts 1,055.1 1,091.3 1,154.5 1,258.7 1,351.9 1,453.2 1,579.4 1,722.0 1,827.6 2,025.5 1,991.4 1,853.4 1,782.5 1,880.3 2,153.9 2,407.3 2,540.1 2,662.5 1,324.3 1,381.6 1,409.5 1,461.9 1,515.9 1,560.6 1,601.3 1,652.7 1,702.0 1,789.2 1,863.2 2,011.2 2,160.1 2,293.0 2,472.2 2,655.4 2,784.3 2,901.9 ¥269.2 ¥290.3 ¥255.1 ¥203.2 ¥164.0 ¥107.4 ¥21.9 69.3 125.6 236.2 128.2 ¥157.8 ¥377.6 ¥412.7 ¥318.3 ¥248.2 ¥244.2 ¥239.4 761.2 788.9 842.5 923.7 1,000.9 1,085.7 1,187.4 1,306.2 1,383.2 1,544.9 1,483.9 1,338.1 1,258.7 1,345.5 1,576.4 1,798.9 1,906.0 1,988.4 1,082.6 1,129.3 1,142.9 1,182.5 1,227.2 1,259.7 1,290.7 1,336.1 1,381.3 1,458.5 1,516.4 1,655.5 1,797.1 1,913.5 2,070.0 2,233.4 2,333.0 2,439.3 ¥321.4 ¥340.4 ¥300.4 ¥258.8 ¥226.4 ¥174.0 ¥103.2 ¥29.9 1.9 86.4 ¥32.4 ¥317.4 ¥538.4 ¥568.0 ¥493.6 ¥434.5 ¥427.0 ¥450.9 293.9 302.4 311.9 335.0 351.1 367.5 392.0 415.8 444.5 480.6 507.5 515.3 523.8 534.7 577.5 608.4 634.1 674.1 241.7 252.3 266.6 279.4 288.7 300.9 310.6 316.6 320.8 330.8 346.8 355.7 363.0 379.5 402.2 422.1 451.3 462.5 52.2 50.1 45.3 55.7 62.4 66.6 81.4 99.2 123.7 149.8 160.7 159.7 160.8 155.2 175.3 186.3 182.8 211.6 3,598.2 4,001.8 4,351.0 4,643.3 4,920.6 5,181.5 5,369.2 5,478.2 5,605.5 5,628.7 5,769.9 6,198.4 6,760.0 7,354.7 7,905.3 8,451.4 9,007.8 9,575.5 2,689.0 2,999.7 3,248.4 3,433.1 3,604.4 3,734.1 3,772.3 3,721.1 3,632.4 3,409.8 3,319.6 3,540.4 3,913.4 4,295.5 4,592.2 4,829.0 5,083.3 5,345.4 1,545.4 1,668.8 1,772.4 1,817.3 ¥227.0 ¥148.5 1,141.5 1,243.7 1,479.5 1,508.4 ¥338.0 ¥264.7 403.9 425.1 292.9 308.9 111.0 116.2 8,298.3 8,768.8 4,793.9 4,965.0 from current issue Monthly Treasury Statement. Surplus or deficit (¥) Outlays Receipts Outlays 01:19 Jul 12, 2007 Jkt 036496 PO 00000 Surplus or deficit (¥) Gross Federal Held by the public NOTE.—Data (except as noted) are from Budget of the United States Government, Fiscal Year 2008, issued February 5, 2007. Sources: Department of the Treasury and Office of Management and Budget. 32 VerDate Aug 31 2005 Federal debt (end of period) Frm 00032 Fmt 3401 Sfmt 3401 E:\HR\OC\ECOIND.032 ECOIND g:\graphics\eecoind.032 hmoore on PRODPC68 with HMECOIND 1 Data Off-budget Receipts Fiscal year or period 1991 ...................................... 1992 ...................................... 1993 ...................................... 1994 ...................................... 1995 ...................................... 1996 ...................................... 1997 ...................................... 1998 ...................................... 1999 ...................................... 2000 ...................................... 2001 ...................................... 2002 ...................................... 2003 ...................................... 2004 ...................................... 2005 ....................................... 2006 ...................................... 2007 (estimates) ................... 2008 (estimates) .................... Cumulative total, first 8 months: 1 Fiscal year 2006 ............ Fiscal year 2007 ............ On-budget FEDERAL RECEIPTS BY SOURCE AND OUTLAYS BY FUNCTION In the first 8 months of fiscal 2007, receipts were $123.4 billion higher than a year earlier and outlays were $44.9 billion higher. [Billions of dollars] On-budget and off-budget receipts hmoore on PRODPC68 with HMECOIND Total Individual income taxes Corporation income taxes On-budget and off-budget outlays National defense Other Total Total Department of Defense, military International affairs Health Medicare Income Social security security Net interest Other 1991 1992 1993 1994 1995 1996 1997 1998 1999 .............................................. .............................................. .............................................. .............................................. .............................................. .............................................. .............................................. .............................................. .............................................. 1,055.1 1,091.3 1,154.5 1,258.7 1,351.9 1,453.2 1,579.4 1,722.0 1,827.6 467.8 476.0 509.7 543.1 590.2 656.4 737.5 828.6 879.5 98.1 100.3 117.5 140.4 157.0 171.8 182.3 188.7 184.7 396.0 413.7 428.3 461.5 484.5 509.4 539.4 571.8 611.8 93.2 101.4 99.0 113.8 120.2 115.5 120.3 132.9 151.7 1,324.3 1,381.6 1,409.5 1,461.9 1,515.9 1,560.6 1,601.3 1,652.7 1,702.0 273.3 298.4 291.1 281.6 272.1 265.8 270.5 268.2 274.8 262.3 286.8 278.5 268.6 259.4 253.1 258.3 255.8 261.2 15.9 16.1 17.2 17.1 16.4 13.5 15.2 13.1 15.2 71.2 89.5 99.4 107.1 115.4 119.4 123.8 131.4 141.1 104.5 119.0 130.6 144.7 159.9 174.2 190.0 192.8 190.4 172.5 199.6 210.0 217.2 223.8 229.7 235.0 237.8 242.5 269.0 287.6 304.6 319.6 335.8 349.7 365.3 379.2 390.0 194.4 199.3 198.7 202.9 232.1 241.1 244.0 241.1 229.8 223.6 172.2 158.0 171.7 160.3 167.3 157.4 189.0 218.2 2000 2001 2002 2003 2004 2005 2006 2007 2008 .............................................. .............................................. .............................................. .............................................. .............................................. .............................................. .............................................. (estimates) ........................... (estimates) ............................ 2,025.5 1,991.4 1,853.4 1,782.5 1,880.3 2,153.9 2,407.3 2,540.1 2,662.5 1,004.5 994.3 858.3 793.7 809.0 927.2 1,043.9 1,168.8 1,246.6 207.3 151.1 148.0 131.8 189.4 278.3 353.9 342.1 314.9 652.9 694.0 700.8 713.0 733.4 794.1 837.8 873.4 927.2 160.9 152.0 146.2 144.1 148.5 154.2 171.6 155.8 173.7 1,789.2 1,863.2 2,011.2 2,160.1 2,293.0 2,472.2 2,655.4 2,784.3 2,901.9 294.4 304.8 348.5 404.8 455.8 495.3 521.8 571.9 606.5 281.1 290.2 331.9 387.2 436.5 474.1 499.3 548.9 583.3 17.2 16.5 22.4 21.2 26.9 34.6 29.5 35.1 36.1 154.5 172.3 196.5 219.6 240.1 250.6 252.8 268.5 280.6 197.1 217.4 230.9 249.4 269.4 298.6 329.9 372.3 391.6 253.7 269.8 312.7 334.6 333.1 345.8 352.5 365.4 380.8 409.4 433.0 456.0 474.7 495.5 523.3 548.5 586.5 612.5 222.9 206.2 170.9 153.1 160.2 184.0 226.6 239.2 261.3 239.9 243.4 273.3 302.7 311.9 339.9 393.8 345.5 332.3 Cumulative total, first 8 months: 1 Fiscal year 2006 .................... Fiscal year 2007 .................... 1,545.4 1,668.8 687.5 765.6 183.9 210.9 563.0 588.0 111.0 1,772.4 104.3 1,817.3 348.0 368.9 328.3 349.1 19.6 19.1 166.4 178.5 214.4 249.2 254.6 265.8 363.6 384.6 148.1 156.8 257.8 194.4 1 Data from current issue Monthly Treasury Statement. Data for Department of Defense, military, include a small amount classified as international affairs, and not included in national defense. NOTE.—Data (except as noted) are from Budget of the United States Government, Fiscal Year 2008, issued February 5, 2007. Sources: Department of the Treasury and Office of Management and Budget. 33 VerDate Aug 31 2005 01:19 Jul 12, 2007 Jkt 036496 PO 00000 Frm 00033 Fmt 3401 Sfmt 3401 E:\HR\OC\ECOIND.033 ECOIND g:\graphics\eecoind.033 Fiscal year or period Social insurance and retirement receipts FEDERAL SECTOR, NATIONAL INCOME ACCOUNTS BASIS In the first quarter of 2007, according to revised estimates, Federal current receipts rose $66.7 billion (annual rate); while Federal current expenditures data rose $88.8 billion. [Billions of dollars; quarterly data at seasonally adjusted annual rates] Federal Government current receipts Total Total 1 Calendar year: 1997 ................. 1998 ................. 1999 ................. 2000 ................. 2001 ................. 2002 ................. 2003 ................ 2004 ................ 2005 ................ 2006 ................ 2003: III ............ IV ............ 2004: I ............... II ............. III ............ IV ............ 2005: I ............... II ............. III ............ IV ............ 2006: I ............... II ............. III ............ IV ............ 2007: I r .............. 1 Includes hmoore on PRODPC68 with HMECOIND 2 Includes 1,653.1 1,773.8 1,891.2 2,053.8 2,016.2 1,853.2 1,879.9 2,001.0 2,246.8 2,540.8 1,817.3 1,910.2 1,945.4 1,985.6 2,013.0 2,059.9 2,214.5 2,240.3 2,182.4 2,349.8 2,490.9 2,523.2 2,557.2 2,591.9 2,658.6 1,030.6 1,116.8 1,195.7 1,313.6 1,252.2 1,075.5 1,070.8 1,150.2 1,366.2 1,563.4 1,004.5 1,089.1 1,108.6 1,141.0 1,156.9 1,194.3 1,328.0 1,344.3 1,364.2 1,428.4 1,524.9 1,553.2 1,579.2 1,596.4 1,636.0 Personal current taxes 744.3 825.8 893.0 999.1 994.5 830.5 774.5 801.4 927.9 1,061.5 708.2 774.7 776.0 791.4 810.8 827.5 891.2 910.9 941.0 968.4 1,039.2 1,049.9 1,064.7 1,092.0 1,134.6 Taxes on production and imports 78.2 81.1 83.9 87.8 85.8 87.3 89.7 94.6 101.1 100.8 88.8 90.3 93.6 94.0 95.1 95.8 97.9 102.7 102.4 101.6 101.1 103.0 101.3 97.9 98.1 Taxes on corporate income 203.0 204.2 213.0 219.4 164.7 150.5 197.8 244.5 326.4 388.5 199.6 214.3 229.4 246.5 242.8 259.3 327.6 321.4 309.5 347.1 374.3 389.4 401.8 388.5 391.6 576.4 613.8 651.6 691.7 717.5 734.3 758.9 802.2 855.3 920.9 761.7 770.3 787.8 795.8 807.1 817.9 838.3 846.1 863.2 873.8 911.9 914.1 920.5 937.1 966.7 Federal Government current expenditures Income receipts on assets Current transfer receipts Current surplus of government enterprises 25.9 21.5 21.5 25.2 24.9 20.2 22.9 22.1 22.9 25.0 24.2 24.8 22.2 21.7 22.0 22.5 22.8 23.8 22.8 22.3 23.3 24.2 25.4 27.0 27.0 19.9 21.5 22.7 25.7 27.1 24.8 25.0 27.7 7.1 32.9 25.4 25.7 26.7 27.4 28.2 28.6 29.1 30.5 ¥61.7 30.6 32.2 32.8 33.6 33.0 32.5 .3 .1 ¥.3 ¥2.3 ¥5.5 ¥1.6 2.3 ¥1.2 ¥4.9 ¥1.4 1.5 .4 .1 ¥.3 ¥1.3 ¥3.4 ¥3.7 ¥4.5 ¥6.0 ¥5.4 ¥1.4 ¥1.1 ¥1.5 ¥1.6 ¥3.5 taxes from the rest of the world, not shown separately. a subtraction for wage accruals less disbursements, not shown separately. Total 2 1,708.9 1,734.9 1,787.6 1,864.4 1,969.5 2,101.1 2,252.1 2,383.0 2,555.9 2,691.7 2,268.8 2,291.7 2,346.4 2,366.3 2,393.6 2,425.6 2,502.0 2,529.9 2,578.5 2,613.3 2,637.9 2,686.2 2,730.2 2,712.7 2,801.5 Consumption expenditures 457.7 454.6 475.1 499.3 531.9 591.5 662.7 724.5 768.6 808.0 669.1 676.5 712.2 722.6 734.8 728.3 758.0 760.8 784.3 771.1 803.6 802.3 809.1 817.1 825.1 Current transfer payments 918.8 946.5 986.1 1,038.1 1,131.4 1,243.0 1,328.7 1,393.3 1,476.7 1,551.1 1,342.1 1,356.3 1,376.7 1,384.5 1,390.0 1,422.1 1,461.2 1,461.8 1,481.3 1,502.4 1,522.0 1,546.6 1,564.8 1,571.1 1,623.9 01:19 Jul 12, 2007 Jkt 036496 PO 00000 Frm 00034 Fmt 3401 300.0 298.8 282.7 283.3 258.6 229.1 212.9 220.9 253.8 280.4 210.0 212.5 215.6 215.3 224.8 227.7 230.9 252.1 255.2 277.1 257.5 285.4 304.9 273.9 302.8 Subsidies 32.4 35.0 43.8 43.8 47.6 37.5 47.8 44.3 56.9 52.1 47.5 46.4 43.4 42.4 43.9 47.4 51.9 55.2 57.7 62.7 54.7 51.9 51.4 50.6 49.7 Net Federal Government saving ¥55.8 38.8 103.6 189.5 46.7 ¥247.9 ¥372.1 ¥382.0 ¥309.2 ¥151.0 ¥451.4 ¥381.5 ¥401.0 ¥380.6 ¥380.6 ¥365.7 ¥287.6 ¥289.6 ¥396.0 ¥263.6 ¥147.0 ¥163.1 ¥173.0 ¥120.7 ¥142.8 Source: Department of Commerce, Bureau of Economic Analysis. 34 VerDate Aug 31 2005 Interest payments Sfmt 3401 E:\HR\OC\ECOIND.034 ECOIND g:\graphics\eecoind.034 Current tax receipts Period Contributions for government social insurance INTERNATIONAL STATISTICS INDUSTRIAL PRODUCTION AND CONSUMER PRICES—MAJOR INDUSTRIAL COUNTRIES Industrial production (2002=100; seasonally adjusted) Period Italy 153.2 154.2 155.0 157.6 160.2 163.3 166.7 170.3 173.2 176.2 176.0 176.8 176.8 176.5 177.1 176.7 176.3 176.5 176.9 137.8 139.1 140.0 142.0 144.8 146.7 148.3 150.8 153.7 156.3 156.0 156.3 156.6 157.1 157.0 156.4 156.6 156.4 157.7 218.2 222.5 226.2 231.9 238.3 244.3 250.8 256.3 261.3 266.9 266.1 266.9 267.1 267.9 268.3 268.1 267.9 268.1 268.3 2007: Jan r ................... 111.7 102.2 115.6 102.9 117.2 101.9 98.6 202.416 189.1 118.3 176.3 Feb r ................... 112.5 103.2 116.3 104.2 117.6 101.3 98.2 203.499 190.4 117.7 176.6 Mar r ................... 112.2 103.2 116.2 104.4 118.4 101.5 98.3 205.352 192.0 118.1 177.4 Apr p ................... 112.7 103.0 116.5 103.6 116.0 100.7 98.6 206.686 192.9 118.4 178.3 May p .................. 112.7 .............. 115.8 .............. 118.4 .............. 99.2 207.949 193.7 118.8 178.7 Jun p ................... .............. .............. ............ .............. .............. .............. .............. .................. .............. ............ ............ 157.4 158.0 158.4 159.0 159.3 159.4 268.5 236.9 269.4 238.6 269.8 240.2 270.2 241.3 271.0 242.3 271.6 .............. .............................. .............................. .............................. .............................. .............................. .............................. .............................. .............................. .............................. .............................. Apr r ................... May r .................. June r ................. July r .................. Aug r ................... Sept r .................. Oct r .................... Nov r ................... Dec r ................... 89.2 94.6 99.1 103.6 100.0 100.0 101.1 103.6 106.9 111.1 110.9 110.9 111.9 112.3 112.5 112.2 112.0 111.5 112.2 Canada Japan 86.2 89.2 94.4 102.6 98.4 100.0 100.7 102.7 104.0 103.3 103.7 103.3 103.3 103.9 103.4 101.8 101.9 102.2 102.2 Germany Consumer prices (1982–84=100; NSA) Germany 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2006: United States France 109.3 102.1 102.4 108.0 101.2 100.0 103.0 108.5 109.8 114.8 113.8 113.2 114.6 114.4 115.9 115.1 117.0 117.4 118.8 90.4 93.9 96.1 100.0 101.3 100.0 99.6 102.1 102.3 102.9 101.9 104.1 103.9 102.4 103.3 102.6 102.6 102.3 103.5 United Kingdom Italy 91.0 94.4 95.5 100.8 101.0 100.0 100.4 103.5 106.9 113.2 111.3 112.6 112.7 113.6 115.0 114.6 114.4 116.3 116.3 97.4 98.5 98.4 102.6 101.4 100.0 99.5 99.2 98.4 100.9 100.1 101.0 101.3 101.1 101.9 100.8 101.9 102.3 103.5 1 Data relate to all urban consumers. NOTE.—See Note, p. 17, for information on U.S. industrial production series. United States 1 99.2 100.2 101.6 103.5 102.0 100.0 99.7 100.5 r 98.5 r 98.5 98.2 98.6 98.5 98.5 98.6 98.9 98.2 98.7 98.5 Canada 160.5 163.0 166.6 172.2 177.1 179.9 184.0 188.9 195.3 201.6 201.5 202.5 202.9 203.5 203.9 202.9 201.8 201.5 201.8 Japan 156.2 157.8 160.5 164.9 169.0 172.8 177.6 180.9 184.9 188.5 188.7 189.6 189.2 189.4 189.7 188.7 188.4 188.7 189.1 121.5 122.2 121.8 121.0 120.1 119.0 118.7 118.7 118.3 118.7 118.4 118.8 118.8 118.4 119.2 119.2 119.0 118.4 118.5 France United Kingdom 185.1 191.4 194.3 200.1 203.6 207.0 213.0 219.4 225.6 232.8 230.9 232.3 233.2 233.2 234.1 235.1 235.5 236.3 238.2 Source: National sources as reported by Department of Commerce (Bureau of Economic Analysis and International Trade Administration, Office of Trade and Industry Information) and Council of Economic Advisers. U.S. INTERNATIONAL TRADE IN GOODS AND SERVICES [Billions of dollars; monthly data seasonally adjusted] Goods: Exports (f.a.s. value) Goods: Imports (customs value) Census basis (by end-use category) Services (BOP basis) Balance of trade (exports minus imports) Census basis (by end-use category) BOP basis Period 1997 r 1998 r 1999 r 2000 r 2001 r 2002 r 2003 r 2004 r 2005 r 2006 r BOP basis ............ 678.4 ............ 670.4 ............ 684.0 ............ 772.0 ............ 718.7 ............ 682.4 ............ 713.4 ............ 807.5 ............ 894.6 ............ 1,023.1 hmoore on PRODPC68 with HMECOIND 2006: Apr r .. May r June r July r Aug r .. Sept r Oct r .. Nov r .. Dec r .. 2007: Jan r .. Feb r .. Mar r Apr p .. 82.3 83.9 86.3 85.1 87.4 87.8 88.2 88.8 89.5 90.5 88.6 91.1 91.1 Total, Census basis 1 Auto- ConIndusmo- sumer Foods, trial Capital tive goods feeds, supgoods vehi- (nonand plies except cles, food) bevand auto- parts except erages mate- motive and autorials enmogines tive 689.2 682.1 695.8 781.9 729.1 693.1 724.8 818.8 906.0 1,036.6 51.5 46.4 46.0 47.9 49.4 49.6 55.0 56.6 59.0 66.0 158.2 148.3 147.5 172.6 160.1 156.8 173.0 203.9 233.0 276.0 83.2 84.9 87.2 86.2 88.6 89.1 89.5 90.4 91.0 91.7 89.6 92.4 92.4 5.2 5.4 5.5 5.6 5.8 5.7 5.7 5.6 5.9 6.0 6.3 6.0 6.7 22.3 23.1 23.6 22.9 23.5 24.5 24.3 24.0 23.8 23.8 23.7 24.8 25.1 BOP basis 294.5 74.0 77.4 876.8 299.4 72.4 80.3 918.6 310.8 75.3 80.9 1,031.8 356.9 80.4 89.4 1,226.7 321.7 75.4 88.3 1,148.2 290.4 78.9 84.4 1,167.4 293.7 80.6 89.9 1,264.3 331.4 89.2 103.2 1,477.1 362.3 98.6 116.1 1,681.8 413.9 107.2 130.0 1,861.4 33.6 33.9 34.8 33.9 34.9 35.2 35.5 36.1 36.4 36.9 34.8 35.3 34.6 8.6 8.5 9.0 9.4 9.3 8.8 8.8 9.1 9.5 8.9 9.1 9.9 9.8 10.3 10.7 10.9 10.9 11.2 10.9 11.2 11.3 11.4 11.9 11.5 11.8 12.0 150.9 155.9 156.9 158.8 161.6 158.7 153.7 155.0 158.1 155.1 154.1 161.8 158.2 IndusAutoFoods, trial Capital motive Total, feeds, supgoods vehiCensus and plies except cles, basis 1 bevand auto- parts erages mate- motive and enrials gines Consumer goods (nonfood) except automotive Exports Imports Goods, Census basis Goods Services Goods and services 869.7 911.9 1,024.6 1,218.0 1,141.0 1,161.4 1,257.1 1,469.7 1,673.5 1,853.9 39.7 41.2 43.6 46.0 46.6 49.7 55.8 62.1 68.1 74.9 213.8 200.1 221.4 299.0 273.9 267.7 313.8 412.8 523.8 602.0 253.3 269.5 295.7 347.0 298.0 283.3 295.9 343.6 379.3 418.3 139.8 148.7 179.0 195.9 189.8 203.7 210.1 228.2 239.5 256.7 193.8 217.0 241.9 281.8 284.3 307.8 333.9 372.9 407.2 442.6 256.1 262.8 281.9 298.6 286.2 292.3 304.3 349.7 388.4 422.6 165.9 180.7 199.2 223.7 221.8 231.1 250.4 292.2 315.7 342.8 ¥180.5 ¥229.8 ¥328.8 ¥436.1 ¥411.9 ¥468.3 ¥532.4 ¥650.9 ¥767.5 ¥817.3 ¥198.4 ¥248.2 ¥347.8 ¥454.7 ¥429.5 ¥485.0 ¥550.9 ¥669.6 ¥787.1 ¥838.3 90.2 82.1 82.7 74.9 64.4 61.2 54.0 57.5 72.8 79.7 ¥108.3 ¥166.1 ¥265.1 ¥379.8 ¥365.1 ¥423.7 ¥496.9 ¥612.1 ¥714.4 ¥758.5 150.4 155.3 156.3 158.2 160.9 158.1 153.0 154.4 157.5 154.5 153.5 160.3 157.0 6.1 6.1 6.1 6.2 6.4 6.4 6.4 6.4 6.5 6.6 6.6 6.8 6.6 48.5 52.7 51.9 53.9 55.0 51.9 46.8 46.9 48.3 48.0 44.5 49.7 50.0 34.2 34.6 34.7 35.2 35.8 35.8 35.5 35.7 35.7 36.5 36.7 36.2 35.6 21.3 21.0 21.9 21.1 21.3 21.2 21.1 21.4 22.6 20.4 20.8 22.1 21.1 35.4 36.1 36.8 36.9 37.4 37.9 38.1 38.8 39.3 38.2 39.7 40.4 38.9 34.4 34.9 34.8 34.8 35.2 35.5 36.4 37.1 37.6 37.3 37.3 38.2 38.4 28.2 28.6 28.7 28.7 28.6 28.8 29.1 29.3 29.3 29.5 29.4 29.8 29.8 ¥67.1 ¥70.4 ¥69.1 ¥72.0 ¥72.4 ¥69.0 ¥63.6 ¥64.0 ¥66.6 ¥62.8 ¥64.0 ¥67.9 ¥64.6 ¥68.6 ¥72.0 ¥70.6 ¥73.7 ¥74.3 ¥70.9 ¥65.5 ¥66.3 ¥68.6 ¥64.6 ¥65.5 ¥70.7 ¥67.1 6.3 6.3 6.1 6.2 6.7 6.7 7.3 7.8 8.3 7.8 7.9 8.4 8.6 ¥62.3 ¥65.7 ¥64.5 ¥67.6 ¥67.6 ¥64.1 ¥58.2 ¥58.5 ¥60.3 ¥56.8 ¥57.6 ¥62.4 ¥58.5 1 Total includes ‘‘other’’ exports or imports, not shown separately. NOTE.—BOP refers to balance of payments on international transactions basis. BOP data shown here are consistent with figures shown on pp. 36 and 37. Data revised to reflect annual revisions. For details, see International Trade in Goods and Services, Annual Revision for 2006, released June 8, 2007. Source: Department of Commerce (Bureau of the Census and Bureau of Economic Analysis). 35 VerDate Aug 31 2005 01:19 Jul 12, 2007 Jkt 036496 PO 00000 Frm 00035 Fmt 3401 Sfmt 3401 E:\HR\OC\ECOIND.035 ECOIND U.S. INTERNATIONAL TRANSACTIONS In the first quarter of 2007, the goods deficit rose to $200.9 billion, from $200.3 billion in the fourth quarter. The current account deficit rose to $192.6 billion in the first quarter, from $187.9 billion in the fourth quarter. (Series revised.) [Millions of dollars; quarterly data seasonally adjusted. Credits (+), debits (¥)] Period Exports Balance on goods Net military transactions 2 Net travel and transportation Income receipts and payments Balance on goods and services Other services, net Receipts Payments Balance on income Unilateral current transfers, net 3 Balance on current account ............ ............ ............ ............ ............ ............ ............ ............ ............ ............ 678,366 670,416 683,965 771,994 718,712 682,422 713,415 807,516 894,631 1,023,109 ¥876,794 ¥918,637 ¥1,031,784 ¥1,226,684 ¥1,148,231 ¥1,167,377 ¥1,264,307 ¥1,477,094 ¥1,681,780 ¥1,861,380 ¥198,428 ¥248,221 ¥347,819 ¥454,690 ¥429,519 ¥484,955 ¥550,892 ¥669,578 ¥787,149 ¥838,271 4,968 5,220 2,593 317 ¥2,296 ¥7,158 ¥11,981 ¥13,518 ¥10,536 ¥13,942 22,152 10,210 7,085 2,486 ¥3,254 ¥4,245 ¥11,475 ¥14,275 ¥12,945 ¥10,636 63,035 66,651 73,051 72,052 69,943 72,633 77,433 85,279 96,259 104,327 ¥108,273 ¥166,140 ¥265,090 ¥379,835 ¥365,126 ¥423,725 ¥496,915 ¥612,092 ¥714,371 ¥758,522 256,804 261,819 293,925 350,918 290,797 281,215 320,568 401,942 505,488 650,462 ¥244,195 ¥257,554 ¥280,037 ¥329,864 ¥259,075 ¥253,544 ¥275,147 ¥345,585 ¥457,430 ¥613,823 12,609 4,265 13,888 21,054 31,722 27,671 45,421 56,357 48,058 36,640 ¥45,062 ¥53,187 ¥50,428 ¥58,645 ¥51,295 ¥63,587 ¥70,607 ¥84,414 ¥88,535 ¥89,595 ¥140,726 ¥215,062 ¥301,630 ¥417,426 ¥384,699 ¥459,641 ¥522,101 ¥640,148 ¥754,848 ¥811,477 2004: I r ....... II r ..... III r .... IV r .... 194,110 200,045 203,835 209,526 ¥345,176 ¥365,168 ¥373,498 ¥393,252 ¥151,066 ¥165,123 ¥169,663 ¥183,726 ¥3,018 ¥3,317 ¥3,464 ¥3,719 ¥3,199 ¥3,443 ¥3,831 ¥3,803 21,246 21,281 20,356 22,396 ¥136,036 ¥150,603 ¥156,603 ¥168,852 93,308 ¥74,241 97,581 ¥84,294 102,741 ¥86,938 108,311 ¥100,112 19,067 13,287 15,803 8,199 ¥22,972 ¥21,371 ¥17,273 ¥22,799 ¥139,941 ¥158,687 ¥158,073 ¥183,452 2005: I r ....... II r ..... III r .... IV r .... 214,391 223,068 224,320 232,852 ¥398,781 ¥411,592 ¥423,638 ¥447,769 ¥184,390 ¥188,524 ¥199,318 ¥214,917 ¥2,724 ¥2,699 ¥2,211 ¥2,902 ¥4,140 ¥2,769 ¥2,858 ¥3,179 24,612 23,321 23,436 24,889 ¥166,641 ¥170,670 ¥180,952 ¥196,109 115,351 121,333 129,873 138,931 ¥102,877 ¥109,529 ¥113,308 ¥131,716 12,474 11,804 16,565 7,215 ¥28,225 ¥24,372 ¥9,019 ¥26,915 ¥182,392 ¥183,238 ¥173,406 ¥215,809 2006: I r ....... II r ..... III r .... IV r .... 243,880 252,458 260,285 266,486 ¥451,637 ¥463,734 ¥479,184 ¥466,825 ¥207,757 ¥211,276 ¥218,899 ¥200,339 ¥3,195 ¥3,549 ¥3,888 ¥3,310 ¥3,075 ¥3,111 ¥2,456 ¥1,995 24,315 25,359 25,936 28,718 ¥189,712 ¥192,577 ¥199,307 ¥176,926 148,391 162,020 167,026 173,025 ¥137,929 ¥151,352 ¥161,177 ¥163,365 10,462 10,668 5,850 9,661 ¥21,360 ¥23,686 ¥23,877 ¥20,673 ¥200,611 ¥205,595 ¥217,334 ¥187,938 2007: I p ...... 270,116 ¥470,983 ¥200,867 ¥3,498 ¥1,645 29,222 ¥176,788 177,523 ¥167,167 10,356 ¥26,148 ¥192,581 1997 r 1998 r 1999 r 2000 r 2001 r 2002 r 2003 r 2004 r 2005 r 2006 r hmoore on PRODPC68 with HMECOIND Imports Services 1 Adjusted from Census data for differences in timing and coverage; excludes military. 2 Transfers under U.S. military agency sales contracts (exports) minus direct defense expenditures (imports). 3 Includes transfers of goods and services under U.S. military grant programs. Note.—Data reflect annual revisions released on June 15, 2007. See p. 37 for continuation of table. 36 VerDate Aug 31 2005 01:19 Jul 12, 2007 Jkt 036496 PO 00000 Frm 00036 Fmt 3401 Sfmt 3401 E:\HR\OC\ECOIND.036 ECOIND g:\graphics\eecoind.036 Goods 1 U.S. INTERNATIONAL TRANSACTIONS—Continued In the financial account, U.S. claims on foreigners reported by U.S. banks increased $233.0 billion in the first quarter of 2007, following an increase of $123.9 billion in the fourth quarter. U.S. liabilities to private foreigners reported by U.S. banks, excluding Treasury securities, increased $203.8 billion in the first quarter, following an increase of $172.3 billion in the fourth quarter. (Series revised.) [Millions of dollars; quarterly data seasonally adjusted. Credits (+), debits (¥)] Financial account hmoore on PRODPC68 with HMECOIND 1997 r 1998 r 1999 r 2000 r 2001 r 2002 r 2003 r 2004 r 2005 r 2006 r 2004: ............................. ............................. ............................. ............................. ............................. ............................. ............................. ............................. ............................. ............................. I r ........................ II r ....................... III r ..................... IV r ...................... 2005: I r ........................ II r ....................... III r ..................... IV r ...................... 2006: I r ........................ II r ....................... III r ..................... IV r ...................... 2007: I p ........................ Statistical discrepancy U.S.-owned assets abroad, net [increase/financial outflow (¥)] Total ¥1,027 ¥485,475 ¥766 ¥353,829 ¥4,939 ¥504,062 ¥1,010 ¥560,523 ¥1,270 ¥382,616 ¥1,470 ¥294,646 ¥3,480 ¥325,424 ¥2,369 ¥905,024 ¥4,054 ¥426,875 ¥3,913 ¥1,055,176 ¥487 ¥319,682 ¥427 ¥147,854 ¥952 ¥152,663 ¥503 ¥284,826 ¥2,598 ¥86,619 ¥512 ¥213,305 ¥473 ¥141,628 ¥472 14,678 ¥1,724 ¥344,032 ¥1,008 ¥212,218 ¥545 ¥209,898 ¥637 ¥289,028 ¥559 ¥420,786 U.S. official reserve assets 4 Other U.S. Government assets ¥1,010 ¥6,783 8,747 ¥290 ¥4,911 ¥3,681 1,523 2,805 14,096 2,374 557 1,122 429 697 5,331 ¥797 4,766 4,796 513 ¥560 1,006 1,415 ¥72 Foreign-owned assets in the U.S., net [increase/financial inflow (+)] U.S. private assets 68 ¥484,533 ¥422 ¥346,624 2,750 ¥515,559 ¥941 ¥559,292 ¥486 ¥377,219 345 ¥291,310 537 ¥327,484 1,710 ¥909,539 5,539 ¥446,510 5,346 ¥1,062,896 727 ¥320,966 ¥2 ¥148,974 484 ¥153,576 501 ¥286,024 2,591 ¥94,541 989 ¥213,497 1,501 ¥147,894 459 9,423 1,049 ¥345,594 1,765 ¥213,423 1,570 ¥212,474 962 ¥291,405 466 ¥421,180 4 Consists of gold, special drawing rights (SDRs), foreign currencies, and the U.S. reserve position in the International Monetary Fund (IMF). NOTE.—See Note, p. 36. Total 706,809 423,569 740,210 1,046,896 782,859 797,813 864,352 1,461,766 1,204,231 1,859,597 441,606 313,790 255,885 450,485 232,614 310,822 383,808 276,987 538,140 355,442 449,987 516,029 623,554 Foreign official assets 19,036 ¥19,903 43,543 42,758 28,059 115,945 278,069 397,755 259,268 440,264 147,636 79,949 76,120 94,050 25,052 81,292 54,736 98,188 125,257 120,861 108,799 85,347 147,834 Other foreign assets Total (sum of the items with sign reversed) 687,773 443,472 696,667 1,004,138 754,800 681,868 586,283 1,064,011 944,963 1,419,333 293,970 233,841 179,765 356,435 207,562 229,530 329,072 178,799 412,883 234,581 341,188 430,682 475,720 ¥79,581 146,088 70,421 ¥67,937 ¥14,274 ¥42,056 ¥13,348 85,775 18,454 ¥17,794 18,505 ¥6,823 55,802 18,295 38,995 86,234 ¥68,302 ¥75,384 6,593 49,378 ¥37,121 36,643 ¥9,629 Of which: Seasonal adjustment discrepancy .................. .................. .................. .................. .................. .................. .................. .................. .................. .................. 8,467 ¥1,889 ¥13,383 6,809 12,335 ¥3,620 ¥18,362 9,644 9,958 ¥252 ¥15,973 6,267 11,077 U.S. official reserve assets, net 4 (unadjusted, end of period) 69,954 81,761 71,516 67,647 68,654 79,006 85,938 86,824 65,127 65,895 85,192 82,652 82,578 86,824 78,942 76,594 71,273 65,127 65,354 67,935 66,217 65,895 66,551 Sources: Department of Commerce (Bureau of Economic Analysis) and Department of the Treasury. 37 VerDate Aug 31 2005 01:19 Jul 12, 2007 Jkt 036496 PO 00000 Frm 00037 Fmt 3401 Sfmt 3401 E:\HR\OC\ECOIND.037 ECOIND g:\graphics\eecoind.037 Period Capital account transactions, net Contents Page TOTAL OUTPUT, INCOME, AND SPENDING Gross Domestic Product .......................................................................................................................................................................................... Real Gross Domestic Product .................................................................................................................................................................................. Implicit Price Deflators for Gross Domestic Product .............................................................................................................................................. Gross Domestic Product and Related Price Measures: Indexes and Percent Changes .............................................................................................. Nonfinancial Corporate Business—Gross Value Added and Price, Costs, and Profits ............................................................................................. National Income ...................................................................................................................................................................................................... Real Personal Consumption Expenditures ............................................................................................................................................................... Sources of Personal Income ...................................................................................................................................................................................... Disposition of Personal Income ............................................................................................................................................................................... Farm Income ............................................................................................................................................................................................................ Corporate Profits ...................................................................................................................................................................................................... Real Gross Private Domestic Investment ................................................................................................................................................................ Real Private Fixed Investment by Type .................................................................................................................................................................. Business Investment ................................................................................................................................................................................................ 1 2 2 3 3 4 4 5 6 7 8 9 10 10 EMPLOYMENT, UNEMPLOYMENT, AND WAGES Status of the Labor Force ......................................................................................................................................................................................... Selected Unemployment Rates ................................................................................................................................................................................ Selected Measures of Unemployment and Unemployment Insurance Programs ...................................................................................................... Nonagricultural Employment .................................................................................................................................................................................. Average Weekly Hours, Hourly Earnings, and Weekly Earnings—Private Nonagricultural Industries ................................................................. Employment Cost Index—Private Industry ............................................................................................................................................................. Productivity and Related Data, Business Sector ...................................................................................................................................................... 11 12 13 14 15 15 16 PRODUCTION AND BUSINESS ACTIVITY Industrial Production and Capacity Utilization ....................................................................................................................................................... Industrial Production—Major Market Groups and Selected Manufactures .............................................................................................................. New Construction .................................................................................................................................................................................................... New Private Housing and Vacancy Rates ............................................................................................................................................................... Business Sales and Inventories—Manufacturing and Trade ..................................................................................................................................... Manufacturers’ Shipments, Inventories, and Orders ................................................................................................................................................. 17 18 19 19 20 21 PRICES Producer Prices ........................................................................................................................................................................................................ Consumer Prices—All Urban Consumers ................................................................................................................................................................ Changes in Producer Prices for Finished Goods ...................................................................................................................................................... Changes in Consumer Prices—All Urban Consumers ............................................................................................................................................. Prices Received and Paid by Farmers ...................................................................................................................................................................... 22 23 24 24 25 MONEY, CREDIT, AND SECURITY MARKETS Money Stock and Debt Measures ............................................................................................................................................................................. Components of Money Stock ................................................................................................................................................................................... Aggregate Reserves and Monetary Base ................................................................................................................................................................... Bank Credit at All Commercial Banks .................................................................................................................................................................... Sources and Uses of Funds, Nonfarm Nonfinancial Corporate Business .................................................................................................................. Consumer Credit ...................................................................................................................................................................................................... Interest Rates and Bond Yields ............................................................................................................................................................................... Common Stock Prices and Yields ............................................................................................................................................................................ 26 27 27 28 29 29 30 31 FEDERAL FINANCE Federal Receipts, Outlays, and Debt ....................................................................................................................................................................... Federal Receipts by Source and Outlays by Function .............................................................................................................................................. Federal Sector, National Income Accounts Basis ..................................................................................................................................................... 32 33 34 INTERNATIONAL STATISTICS Industrial Production and Consumer Prices—Major Industrial Countries ............................................................................................................... U.S. International Trade in Goods and Services ...................................................................................................................................................... U.S. International Transactions ................................................................................................................................................................................ 35 35 36 hmoore on PRODPC68 with HMECOIND General Notes Detail in these tables may not add to totals because of rounding. Unless otherwise noted, all dollar figures are in current dollars. Symbols used: p Preliminary. r Revised. c Corrected. … Not available (also, not applicable). NSA not seasonally adjusted. For sale by the Superintendent of Documents, U.S. Government Printing Office, Washington, D.C. 20402. Price $5.00 (single copy) ($7.00 foreign). Subscription price: $58.00 per year; $81.20 for foreign mailing. 38 VerDate Aug 31 2005 U.S. GOVERNMENT PRINTING OFFICE : 2007 36–496 01:19 Jul 12, 2007 Jkt 036496 PO 00000 Frm 00038 Fmt 3438 Sfmt 3438 E:\HR\OC\ECOIND.038 ECOIND