Full text of Economic Indicators : May 2009
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111th Congress, 1st Session Economic Indicators MAY 2009 (Includes data available as of June 5, 2009) Prepared for the Joint Economic Committee by the Council of Economic Advisers UNITED STATES GOVERNMENT PRINTING OFFICE hsrobinson on PROD1PC76 with HEARING WASHINGTON : 2009 VerDate Nov 24 2008 22:14 Jun 09, 2009 Jkt 050117 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.) CAROLYN B. MALONEY, New York, Chair CHARLES E. SCHUMER, New York, Vice Chairman HOUSE OF REPRESENTATIVES MAURICE D. HINCHEY, New York BARON P. HILL, Indiana LORETTA SANCHEZ, California ELIJAH E. CUMMINGS, Maryland VIC SNYDER, Arkansas KEVIN BRADY, Texas RON PAUL, Texas MICHAEL C. BURGESS, M.D., Texas JOHN CAMPBELL, California SENATE EDWARD M. KENNEDY, Massachusetts JEFF BINGAMAN, New Mexico AMY KLOBUCHAR, Minnesota ROBERT P. CASEY, JR., Pennsylvania JIM WEBB, Virginia SAM BROWNBACK, Kansas JIM DEMINT, South Carolina JAMES E. RISCH, Idaho ROBERT F. BENNETT, Utah NAN GIBSON, Executive Director COUNCIL OF ECONOMIC ADVISERS CHRISTINA D. ROMER, Chair AUSTAN D. GOOLSBEE, Member CECILIA E. ROUSE, 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. hsrobinson on PROD1PC76 with HEARING Charts prepared under the direction of the Printing and Procurement Branch, Office of the Secretary, Department of Commerce. 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 Nov 24 2008 22:14 Jun 09, 2009 Jkt 050117 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 2009, according to revised estimates, current-dollar gross domestic product (GDP) fell 3.1 percent (annual rate), real GDP (GDP in chained 2000 dollars) fell 5.7 percent, and the implicit price deflator rose 2.8 percent. [Billions of current dollars; quarterly data at seasonally adjusted annual rates] 1999 ...................... 2000 ...................... 2001 ...................... 2002 ...................... 2003 ...................... 2004 ...................... 2005 ...................... 2006 ...................... 2007 ...................... 2008 ...................... 2005: III ............. IV .............. 2006: I ................ II ............... III ............. IV .............. 2007: I ................ II ............... III ............. IV .............. 2008: I ................ II ............... III ............. IV .............. 2009: I r ............... 1 GDP Net exports Exports 9,268.4 9,817.0 10,128.0 10,469.6 10,960.8 11,685.9 12,421.9 13,178.4 13,807.5 14,264.6 12,538.2 12,696.4 12,959.6 13,134.1 13,249.6 13,370.1 13,510.9 13,737.5 13,950.6 14,031.2 14,150.8 14,294.5 14,412.8 14,200.3 14,089.7 ¥260.5 ¥379.5 ¥367.0 ¥424.4 ¥499.4 ¥615.4 ¥713.6 ¥757.3 ¥707.8 ¥669.2 ¥725.1 ¥777.7 ¥761.7 ¥777.2 ¥792.7 ¥697.7 ¥728.8 ¥723.1 ¥682.6 ¥696.7 ¥705.7 ¥718.2 ¥707.7 ¥545.1 ¥333.4 991.2 1,096.3 1,032.8 1,005.9 1,040.8 1,182.4 1,311.5 1,480.8 1,662.4 1,859.4 1,314.5 1,359.6 1,423.2 1,462.8 1,492.5 1,544.5 1,560.5 1,614.4 1,714.9 1,759.7 1,820.8 1,923.2 1,968.9 1,724.7 1,539.3 6,282.5 6,739.4 7,055.0 7,350.7 7,703.6 8,195.9 8,694.1 9,207.2 9,710.2 10,057.9 8,791.1 8,893.7 9,026.3 9,161.9 9,283.7 9,357.0 9,524.9 9,657.5 9,765.6 9,892.7 10,002.3 10,138.0 10,163.5 9,927.9 9,941.0 1,625.7 1,735.5 1,614.3 1,582.1 1,664.1 1,888.6 2,086.1 2,220.4 2,130.4 1,993.5 2,084.2 2,174.6 2,236.7 2,253.7 2,231.7 2,159.5 2,117.8 2,147.2 2,164.0 2,092.3 2,056.1 2,000.9 2,010.9 1,906.1 1,598.7 Government consumption expenditures and gross investment Federal Imports Total Total 1,251.7 1,475.8 1,399.8 1,430.3 1,540.2 1,797.8 2,025.1 2,238.1 2,370.2 2,528.6 2,039.6 2,137.4 2,184.9 2,240.0 2,285.2 2,242.2 2,289.4 2,337.5 2,397.5 2,456.5 2,526.5 2,641.4 2,676.6 2,269.7 1,872.7 less exports of goods and services plus imports of goods and services. 1,620.8 1,721.6 1,825.6 1,961.1 2,092.5 2,216.8 2,355.3 2,508.1 2,674.8 2,882.4 2,388.0 2,405.9 2,458.4 2,495.7 2,526.9 2,551.4 2,597.0 2,655.9 2,703.5 2,742.9 2,798.1 2,873.7 2,946.1 2,911.4 2,883.3 555.8 578.8 612.9 679.7 756.4 825.6 875.5 932.2 979.3 1,071.9 894.2 879.5 922.8 928.5 935.5 941.7 950.3 974.6 994.0 998.3 1,026.5 1,056.1 1,098.0 1,107.0 1,102.1 National defense 360.6 370.3 392.6 437.1 497.2 550.7 588.1 624.1 662.2 734.9 606.3 585.4 613.6 623.1 624.0 635.9 636.9 656.8 675.6 679.3 699.9 723.3 759.5 757.0 748.9 Nondefense 195.2 208.5 220.3 242.5 259.2 274.9 287.4 308.0 317.1 337.0 288.0 294.1 309.3 305.4 311.5 305.9 313.4 317.8 318.3 319.0 326.6 332.9 338.5 350.0 353.2 State and local 1,065.0 1,142.8 1,212.8 1,281.5 1,336.0 1,391.2 1,479.8 1,575.9 1,695.5 1,810.4 1,493.8 1,526.4 1,535.5 1,567.2 1,591.4 1,609.7 1,646.8 1,681.3 1,709.5 1,744.6 1,771.6 1,817.6 1,848.1 1,804.4 1,781.2 Final sales of domestic product Gross domestic purchases 1 Addendum: Gross national product 9,201.5 9,760.5 10,159.7 10,457.7 10,946.5 11,627.3 12,378.6 13,129.0 13,811.2 14,311.6 12,527.2 12,636.1 12,906.5 13,068.3 13,187.1 13,354.3 13,526.5 13,738.4 13,927.6 14,052.3 14,176.4 14,370.5 14,462.5 14,236.9 14,211.0 9,528.9 10,196.4 10,495.0 10,894.0 11,460.2 12,301.3 13,135.5 13,935.7 14,515.3 14,933.8 13,263.3 13,474.1 13,721.4 13,911.3 14,042.3 14,067.9 14,239.7 14,460.6 14,633.1 14,728.0 14,856.6 15,012.7 15,120.5 14,745.4 14,423.1 9,302.2 9,855.9 10,171.6 10,500.2 11,017.6 11,762.1 12,514.9 13,256.6 13,910.0 14,397.8 12,641.2 12,770.6 13,039.2 13,219.4 13,316.1 13,452.0 13,583.3 13,797.2 14,062.8 14,196.6 14,289.0 14,408.3 14,539.6 14,354.3 14,238.2 Source: Department of Commerce, Bureau of Economic Analysis. 1 VerDate Nov 24 2008 22:14 Jun 09, 2009 Jkt 050117 PO 00000 Frm 00001 Fmt 3401 Sfmt 3401 E:\HR\OC\ECOIND.001 ECOIND G:\GRAPHICS\eecoind.001 hsrobinson on PROD1PC76 with HEARING 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 Period 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2005: 2006: 2007: 2008: 2009: ....... ....... ....... ....... ....... ....... ....... ....... ....... ....... III IV I .. II III IV I .. II III IV I .. II III IV Ir Gross domestic product 9,470.3 9,817.0 9,890.7 10,048.8 10,301.0 10,675.8 10,989.5 11,294.8 11,523.9 11,652.0 11,050.0 11,086.1 11,217.3 11,291.7 11,314.1 11,356.4 11,357.8 11,491.4 11,625.7 11,620.7 11,646.0 11,727.4 11,712.4 11,522.1 11,353.7 Exports and imports of goods and services Personal conNonresi- Resi- Change sumption dential dential in priexpendifixed fixed vate tures invest- invest- invenment ment tories 6,438.6 6,739.4 6,910.4 7,099.3 7,295.3 7,561.4 7,791.7 8,029.0 8,252.8 8,272.1 7,838.1 7,864.9 7,947.4 8,002.1 8,046.3 8,119.9 8,197.2 8,237.3 8,278.5 8,298.2 8,316.1 8,341.3 8,260.6 8,170.5 8,202.0 1,133.3 1,232.1 1,180.5 1,071.5 1,081.8 1,144.3 1,226.2 1,318.2 1,382.9 1,405.4 1,237.1 1,248.2 1,295.2 1,315.4 1,332.7 1,329.3 1,340.4 1,373.8 1,402.9 1,414.7 1,423.1 1,431.8 1,425.7 1,341.1 1,195.1 443.6 446.9 448.5 469.9 509.4 560.2 595.4 552.9 453.8 359.5 601.7 602.0 596.5 570.1 536.7 508.4 486.4 471.7 445.3 411.6 383.0 369.6 353.7 331.6 293.4 68.9 56.5 ¥31.7 12.5 14.3 54.3 38.9 42.3 ¥2.5 ¥29.0 11.0 53.5 45.9 56.9 53.3 13.1 ¥15.0 ¥2.8 16.0 ¥8.1 ¥10.2 ¥50.6 ¥29.6 ¥25.8 ¥91.4 Government consumption expenditures and gross investment Federal Net exports Exports Imports Total ¥296.2 ¥379.5 ¥399.1 ¥471.3 ¥518.9 ¥593.8 ¥616.6 ¥615.7 ¥546.5 ¥390.2 ¥603.6 ¥637.8 ¥636.0 ¥619.4 ¥623.0 ¥584.3 ¥618.6 ¥571.2 ¥511.8 ¥484.5 ¥462.0 ¥381.3 ¥353.1 ¥364.5 ¥302.6 1,008.2 1,096.3 1,036.7 1,013.3 1,026.1 1,126.1 1,205.3 1,314.8 1,425.9 1,514.1 1,204.3 1,235.7 1,284.3 1,301.4 1,312.6 1,361.1 1,363.2 1,392.2 1,466.2 1,482.1 1,500.6 1,544.7 1,556.1 1,454.9 1,336.8 1,304.4 1,475.8 1,435.8 1,484.6 1,545.0 1,719.9 1,821.9 1,930.5 1,972.4 1,904.3 1,807.9 1,873.6 1,920.2 1,920.9 1,935.7 1,945.3 1,981.8 1,963.4 1,978.0 1,966.5 1,962.6 1,926.0 1,909.1 1,819.4 1,639.5 1,686.9 1,721.6 1,780.3 1,858.8 1,904.8 1,931.8 1,939.0 1,971.2 2,012.1 2,070.2 1,950.4 1,941.9 1,960.5 1,966.6 1,974.9 1,982.7 1,987.1 2,006.4 2,025.3 2,029.4 2,039.1 2,058.9 2,088.1 2,094.7 2,076.3 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 573.7 578.8 601.4 643.4 687.1 715.9 724.5 741.0 752.9 798.2 736.8 723.2 740.6 737.7 741.1 744.4 737.5 749.6 762.7 761.7 772.6 785.0 810.8 824.5 815.4 372.2 370.3 384.9 413.2 449.0 475.0 482.2 490.0 502.1 538.1 495.1 476.5 486.7 489.0 487.9 496.3 488.8 498.8 511.0 509.9 518.9 528.1 550.4 555.0 545.4 201.5 208.5 216.5 230.2 238.0 240.7 242.0 250.8 250.4 259.5 241.4 246.5 253.8 248.5 253.1 247.8 248.6 250.5 251.2 251.5 253.2 256.3 259.5 268.9 269.6 State and local 1,113.2 1,142.8 1,179.0 1,215.4 1,217.8 1,215.8 1,214.3 1,230.2 1,259.0 1,273.0 1,213.6 1,218.5 1,219.9 1,228.8 1,233.7 1,238.2 1,249.3 1,256.6 1,262.6 1,267.5 1,266.7 1,274.4 1,278.7 1,272.3 1,262.8 Final sales of domestic product Gross domestic purchases 1 Addendum: Gross national product 9,404.0 9,760.5 9,920.9 10,036.5 10,285.1 10,619.8 10.947.3 11,249.3 11,523.4 11,681.0 11,035.5 11,028.4 11,167.6 11,232.1 11,257.8 11,339.7 11,370.5 11,490.5 11,605.0 11,628.0 11,653.7 11,778.8 11,739.2 11,552.2 11,451.9 9,767.7 10,196.4 10,290.1 10,517.7 10,815.5 11,261.4 11,597.8 11,904.1 12,066.8 12,035.2 11,645.4 11,716.2 11,846.2 11,904.4 11,930.6 11,935.6 11,970.9 12,058.2 12,135.1 12,103.2 12,105.8 12,102.6 12,057.8 11,874.5 11,644.4 9,504.7 9,855.9 9,933.6 10,079.0 10,355.3 10,746.0 11,072.1 11,362.3 11,609.8 11,762.3 11,140.7 11,151.2 11,286.5 11,365.1 11,370.8 11,426.5 11,419.1 11,541.7 11,719.9 11,758.3 11,760.9 11,822.2 11,817.3 11,648.7 11,476.5 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 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2005: 2006: 2007: hsrobinson on PROD1PC76 with HEARING 2008: 2009: ................. ................. ................. ................. ................. ................. ................. ................. ................. ................. III ......... IV .......... I ............ II ........... III ......... IV .......... I ............ II ........... III ......... IV .......... I ............ II ........... III ......... IV .......... I r ........... 97.868 100.000 102.399 104.187 106.404 109.462 113.034 116.676 119.816 122.422 113.468 114.525 115.533 116.317 117.107 117.732 118.956 119.547 119.997 120.743 121.508 121.890 123.056 123.244 124.097 Total 97.575 100.000 102.094 103.542 105.597 108.391 111.581 114.675 117.659 121.588 112.158 113.081 113.575 114.493 115.377 115.235 116.197 117.241 117.964 119.215 120.277 121.539 123.036 121.509 121.203 Durable goods 101.625 100.000 98.113 95.767 92.366 90.695 89.984 88.771 87.154 86.092 89.631 89.420 89.211 89.031 88.729 88.129 87.720 87.367 86.941 86.600 86.584 86.240 86.113 85.360 85.002 Nondurable goods Gross private domestic investment Services 96.174 100.000 101.531 102.090 104.145 107.626 111.606 114.985 118.408 124.671 113.038 113.697 113.786 115.151 116.410 114.578 116.021 117.825 118.675 121.085 123.053 125.014 128.123 122.448 120.829 Nonresidential fixed 97.393 100.000 103.256 106.019 109.379 112.929 116.700 120.752 124.712 128.748 117.079 118.423 119.304 120.276 121.272 122.122 123.194 124.212 125.173 126.248 127.128 128.445 129.532 129.880 130.228 100.057 100.000 99.683 99.513 99.591 100.896 103.829 107.277 108.740 110.484 103.959 105.091 106.199 107.058 107.527 108.294 108.654 108.729 108.556 109.010 109.173 109.784 110.909 112.170 111.844 Exports and imports of Government consumption expenditures goods and services and gross investment Federal Residential fixed 95.780 100.000 104.633 107.240 112.372 120.587 129.268 136.898 138.885 135.676 130.819 133.311 135.466 136.737 137.163 138.477 139.197 138.730 138.803 138.780 137.878 136.665 135.512 132.204 130.665 Exports Imports Total 98.313 100.000 99.625 99.272 101.429 104.997 108.814 112.618 116.585 122.805 109.154 110.026 110.819 112.402 113.704 113.476 114.480 115.963 116.962 118.735 121.337 124.498 126.528 118.541 115.141 95.960 100.000 97.497 96.342 99.686 104.526 111.153 115.932 120.168 132.782 112.814 114.082 113.785 116.615 118.056 115.262 115.520 119.058 121.208 124.915 128.730 137.144 140.198 124.755 114.225 96.883 100.000 101.908 105.632 110.095 115.322 120.835 125.806 130.077 134.291 121.361 121.614 124.614 125.866 126.232 126.510 128.848 130.027 130.331 131.057 132.867 134.540 135.435 134.265 135.163 National defense Nondefense State and local 96.886 100.000 102.002 105.792 110.751 115.932 121.944 127.381 131.874 136.573 122.451 122.851 126.067 127.424 127.893 128.124 130.312 131.683 132.213 133.217 134.885 136.946 137.983 136.400 137.315 96.880 100.000 101.738 105.345 108.898 114.218 118.743 122.803 126.636 129.874 119.310 119.273 121.847 122.895 123.060 123.427 126.067 126.868 126.718 126.883 128.984 129.865 130.463 130.154 131.023 95.667 100.000 102.868 105.434 109.712 114.431 121.863 128.110 134.671 142.212 123.094 125.266 125.873 127.541 128.991 129.999 131.818 133.794 135.388 137.638 139.854 142.619 144.527 141.825 141.056 Source: Department of Commerce, Bureau of Economic Analysis. 2 VerDate Nov 24 2008 22:14 Jun 09, 2009 Jkt 050117 PO 00000 Frm 00002 Fmt 3401 Sfmt 3401 E:\HR\OC\ECOIND.002 ECOIND 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 Personal consumption expenditures (PCE) Gross domestic product (GDP) Personal consumption expenditures (PCE) Gross domestic product (GDP) Period Real GDP (chain-type quantity index) 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2005: 2006: 2007: 2008: 2009: .................................... .................................... .................................... .................................... .................................... .................................... .................................... .................................... .................................... .................................... I ............................... II ............................. III ............................ IV ............................ I ............................... II ............................. III ............................ IV ............................ I ............................... II ............................. III ............................ IV ............................ I ............................... II ............................. III ............................ IV ............................ I r .............................. 1 Quarterly 96.469 100.000 100.751 102.362 104.931 108.748 111.944 115.054 117.388 118.692 110.786 111.502 112.560 112.928 114.264 115.022 115.250 115.681 115.696 117.056 118.425 118.374 118.631 119.460 119.308 117.369 115.654 GDP chain-type price index GDP implicit price deflator 97.868 100.000 102.402 104.193 106.409 109.462 113.039 116.676 119.819 122.500 111.778 112.357 113.487 114.536 115.536 116.317 117.109 117.742 118.935 119.531 119.984 120.826 121.613 121.951 123.134 123.302 124.168 PCE (chain-type price index) PCE less food and energy price index 97.575 100.000 102.094 103.542 105.597 108.392 111.581 114.675 117.659 121.596 110.187 110.881 112.168 113.089 113.581 114.499 115.381 115.239 116.202 117.246 117.969 119.221 120.283 121.544 123.041 121.514 121.208 98.343 100.000 101.904 103.705 105.175 107.338 109.644 112.129 114.548 117.043 108.838 109.405 109.838 110.495 111.076 111.887 112.531 113.022 113.682 114.201 114.797 115.512 116.158 116.782 117.481 117.749 118.197 97.868 100.000 102.399 104.187 106.404 109.462 113.034 116.676 119.816 122.422 111.765 112.346 113.468 114.525 115.533 116.317 117.107 117.732 118.956 119.547 119.997 120.743 121.508 121.890 123.056 123.244 124.097 percent changes are at annual rates. Real GDP (chain-type quantity index) GDP (current dollars) 6.0 5.9 3.2 3.4 4.7 6.6 6.3 6.1 4.8 3.3 7.1 4.8 8.1 5.1 8.6 5.5 3.6 3.7 4.3 6.9 6.3 2.3 3.5 4.1 3.4 ¥5.8 ¥3.1 GDP chain-type price index 4.5 3.7 .8 1.6 2.5 3.6 2.9 2.8 2.0 1.1 3.0 2.6 3.8 1.3 4.8 2.7 .8 1.5 .1 4.8 4.8 ¥.2 .9 2.8 ¥.5 ¥6.3 ¥5.7 1.4 2.2 2.4 1.7 2.1 2.9 3.3 3.2 2.7 2.2 4.0 2.1 4.1 3.7 3.5 2.7 2.8 2.2 4.1 2.0 1.5 2.8 2.6 1.1 3.9 .5 2.8 GDP implicit price deflator 1.4 2.2 2.4 1.7 2.1 2.9 3.3 3.2 2.7 2.2 4.0 2.1 4.1 3.8 3.6 2.7 2.7 2.2 4.2 2.0 1.5 2.5 2.6 1.3 3.9 .6 2.8 PCE (chain-type price index) PCE less food and energy price index 1.7 2.5 2.1 1.4 2.0 2.6 2.9 2.8 2.6 3.3 2.5 2.5 4.7 3.3 1.8 3.3 3.1 ¥.5 3.4 3.6 2.5 4.3 3.6 4.3 5.0 ¥4.9 ¥1.0 1.5 1.7 1.9 1.8 1.4 2.1 2.1 2.3 2.2 2.2 2.5 2.1 1.6 2.4 2.1 3.0 2.3 1.8 2.4 1.8 2.1 2.5 2.3 2.2 2.4 .9 1.5 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 hsrobinson on PROD1PC76 with HEARING 1999 ........................................................ 2000 ........................................................ 2001 ........................................................ 2002 ........................................................ 2003 ........................................................ 2004 ........................................................ 2005 ........................................................ 2006 ........................................................ 2007 ........................................................ 2008 r ....................................................... 2006: I ................................................... II ................................................. III ................................................ IV ................................................ 2007: I ................................................... II ................................................. III ................................................ IV ................................................ 2008: I ................................................... II ................................................. III ................................................ IV r ............................................... 2009: I p ................................................. Current dollars Chained (2000) dollars 4,950.8 5,272.2 5,293.5 5,371.7 5,558.4 5,956.4 6,396.1 6,863.4 7,075.1 7,168.5 6,771.2 6,817.5 6,931.7 6,933.3 6,999.6 7,066.7 7,098.6 7,135.5 7,119.3 7,153.1 7,260.7 7,140.9 7,019.1 5,011.0 5,272.2 5,224.5 5,269.7 5,387.5 5,662.1 5,916.1 6,156.4 6,243.1 6,324.3 6,126.1 6,132.4 6,198.2 6,169.0 6,165.5 6,230.2 6,271.2 6,304.4 6,283.0 6,375.1 6,410.9 6,228.3 6,027.5 Total Compensation of employees (unit labor cost) 0.988 1.000 1.013 1.019 1.032 1.052 1.081 1.115 1.133 1.133 1.105 1.112 1.118 1.124 1.135 1.134 1.132 1.132 1.133 1.122 1.133 1.147 1.165 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. Total 0.652 .672 .688 .685 .687 .683 .689 .701 .725 .733 .696 .698 .697 .714 .724 .722 .723 .730 .736 .726 .726 .742 .758 0.229 .237 .257 .253 .253 .249 .257 .262 .270 .277 .257 .261 .260 .266 .267 .269 .270 .271 .273 .272 .276 .284 .294 Consumption of fixed capital Taxes on production and imports 3 Net interest and miscellaneous payments 0.105 .108 .124 .122 .122 .121 .126 .126 .132 .140 .123 .125 .126 .129 .130 .131 .132 .133 .136 .136 .142 .144 .150 0.092 .093 .094 .099 .103 .103 .105 .108 .109 .108 .107 .108 .107 .109 .109 .109 .109 .109 .108 .107 .106 .109 .112 0.032 .036 .039 .032 .028 .025 .026 .028 .029 .029 .027 .028 .027 .028 .028 .029 .029 .029 .029 .029 .028 .031 .032 Corporate profits with inventory valuation and capital consumption adjustments 4 Total 0.107 .090 .068 .081 .091 .120 .135 .153 .139 .125 .152 .152 .161 .145 .143 .144 .139 .130 .125 .123 .130 .120 .113 Taxes on corporate income 0.034 .032 .021 .018 .025 .034 .046 .050 .051 .043 .049 .051 .052 .048 .052 .053 .051 .050 .045 .046 .047 .033 .036 Profits after tax 5 0.073 .058 .047 .063 .066 .087 .089 .102 .088 .082 .102 .102 .109 .096 .091 .091 .088 .080 .081 .077 .083 .087 .077 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 Nov 24 2008 22:14 Jun 09, 2009 Jkt 050117 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 1999 ........... 2000 ........... 2001 ........... 2002 ........... 2003 ........... 2004 ........... 2005 ........... 2006 ........... 2007 ........... 2008 r .......... 2005: III ... IV ... 2006: I ...... II .... III ... IV ... 2007: I ...... II .... III ... IV ... 2008: I ...... II .... III ... IV r .. 2009: I r ..... 1 With 8,236.7 8,795.2 8,979.8 9,229.3 9,632.3 10,306.8 10,974.0 11,795.7 12,270.9 12,427.4 10,779.5 11,331.3 11,611.1 11,738.5 11,848.6 11,984.7 12,087.4 12,233.6 12,338.6 12,424.1 12,447.6 12,468.6 12,491.4 12,302.0 12,254.5 Compensation of employees 5,357.1 5,782.7 5,942.1 6,091.2 6,325.4 6,656.4 7,030.8 7,433.8 7,812.3 8,052.8 7,090.2 7,191.0 7,318.0 7,364.2 7,441.9 7,611.1 7,709.0 7,760.1 7,839.3 7,941.0 8,009.7 8,033.5 8,092.9 8,074.9 8,024.0 Farm 28.6 22.7 19.7 10.6 29.2 37.3 34.1 16.2 44.0 34.6 37.1 27.7 17.3 9.8 13.8 23.7 39.3 42.3 47.4 47.1 41.6 38.0 32.4 26.3 24.1 Nonfarm 649.7 705.7 752.2 757.8 782.1 874.3 925.7 998.6 1,012.2 1,037.9 923.3 966.7 987.5 1,008.4 999.6 998.7 997.9 1,007.9 1,016.4 1,026.7 1,030.1 1,039.0 1,048.2 1,034.2 1,015.5 Corporate profits with inventory valuation and capital consumption adjustments Rental income of persons with capital consumption adjustment Capital consumption adjustment Net interest and miscellaneous payments Taxes on production and imports 74.5 58.6 48.1 120.1 98.7 69.7 ¥134.8 ¥165.7 ¥192.7 ¥71.7 ¥154.5 ¥146.0 ¥144.5 ¥160.0 ¥173.4 ¥184.8 ¥176.9 ¥187.0 ¥197.8 ¥209.2 ¥48.0 ¥62.7 ¥88.0 ¥88.1 ¥144.9 495.4 559.0 566.3 520.9 524.7 491.2 569.1 631.2 664.4 682.7 583.9 600.8 615.5 629.7 630.1 649.3 645.8 660.8 663.0 688.1 662.3 683.4 656.6 728.6 718.4 674.0 708.9 728.6 762.8 807.2 863.8 928.2 976.2 1,015.5 1,033.8 937.4 946.8 962.7 973.6 980.1 988.3 1,002.7 1,012.3 1,019.2 1,027.7 1,025.8 1,039.4 1,044.1 1,026.1 1,014.8 Profits with inventory valuation adjustment and without capital consumption adjustment Total 147.3 150.3 167.4 152.9 133.0 118.4 40.9 44.3 40.0 64.4 ¥56.9 58.0 52.8 45.6 40.4 38.2 35.1 44.6 41.8 38.6 39.1 58.6 68.5 91.4 89.8 851.3 817.9 767.3 886.3 993.1 1,231.2 1,447.9 1,668.5 1,642.4 1,476.5 1,342.6 1,538.6 1,634.2 1,681.6 1,713.8 1,644.5 1,617.8 1,672.5 1,668.3 1,611.1 1,593.5 1,533.3 1,514.8 1,264.5 1,307.1 Total Profits before tax Inventory valuation adjustment 776.8 759.3 719.2 766.2 894.5 1,161.6 1,582.8 1,834.2 1,835.1 1,548.2 1,497.1 1,684.6 1,778.7 1,841.6 1,887.2 1,829.3 1,794.7 1,859.5 1,866.1 1,820.2 1,641.5 1,596.0 1,602.8 1,352.6 1,452.0 775.9 773.4 707.9 768.4 908.1 1,204.7 1,620.6 1,873.7 1,886.3 1,597.3 1,536.3 1,733.3 1,813.8 1,900.1 1,929.9 1,851.1 1,838.9 1,914.8 1,897.1 1,894.3 1,750.9 1,750.0 1,693.7 1,194.5 1,346.6 1.0 ¥14.1 11.3 ¥2.2 ¥13.6 ¥43.1 ¥37.8 ¥39.5 ¥51.2 ¥49.0 ¥39.1 ¥48.7 ¥35.0 ¥58.5 ¥42.7 ¥21.8 ¥44.2 ¥55.3 ¥31.0 ¥74.1 ¥109.4 ¥154.0 ¥90.9 158.1 105.3 inventory valuation and capital consumption adjustments. Less: Subsidies Business current transfer payments Current surplus of government enterprises 44.2 44.3 55.3 38.4 47.9 44.6 59.3 49.7 52.3 50.7 60.7 63.3 54.2 49.8 48.2 46.8 47.5 55.9 53.5 52.3 50.6 50.8 50.3 51.2 50.5 67.4 87.1 92.8 84.3 83.8 83.0 70.0 85.4 100.2 103.6 8.5 76.1 85.1 83.5 86.0 86.8 98.3 97.4 102.2 103.1 103.2 102.1 92.1 116.8 122.8 10.1 5.3 ¥1.4 .9 1.7 ¥4.2 ¥13.4 ¥8.6 ¥7.9 ¥8.1 ¥25.8 ¥11.4 ¥7.8 ¥8.3 ¥9.1 ¥9.2 ¥10.8 ¥8.5 ¥5.5 ¥6.7 ¥7.1 ¥7.7 ¥8.0 ¥9.6 ¥11.6 Note—Revisions include changes to series affected by revised wage and salary estimates for 2008:IV. 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 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2005: 2006: 2007: hsrobinson on PROD1PC76 with HEARING 2008: 2009: ............... ............... ............... ............... ............... ............... ............... ............... ............... ............... III ....... IV ........ I .......... II ......... III ....... IV ........ I .......... II ......... III ....... IV ........ I .......... II ......... III ....... IV ........ I r ......... 6,438.6 6,739.4 6,910.4 7,099.3 7,295.3 7,561.4 7,791.7 8,029.0 8,252.8 8,272.1 7,838.1 7,864.9 7,947.4 8,002.1 8,046.3 8,119.9 8,197.2 8,237.3 8,278.5 8,298.2 8,316.1 8,341.3 8,260.6 8,170.5 8,202.0 Total durable goods 804.6 863.3 900.7 964.8 1,020.6 1,084.8 1,134.4 1,185.1 1,242.4 1,188.5 1,158.9 1,123.3 1,173.1 1,178.3 1,188.4 1,200.7 1,227.3 1,242.3 1,249.4 1,250.6 1,237.0 1,228.3 1,180.1 1,108.6 1,134.4 Motor vehicles and parts 372.4 386.5 405.8 429.0 442.1 450.8 449.9 437.9 446.7 387.2 469.0 418.1 435.4 437.3 439.4 439.6 449.5 451.3 443.5 442.6 430.2 407.2 376.9 334.6 349.6 Furniture and household equipment 280.7 312.9 331.8 364.3 397.8 445.1 490.9 550.2 594.0 614.3 497.0 514.0 537.9 544.6 553.8 564.5 580.3 588.3 600.8 606.6 609.3 629.6 616.2 602.2 608.4 Nondurable goods Other 151.7 163.9 163.2 172.4 183.2 195.1 205.1 218.0 228.3 226.5 203.5 209.0 218.7 216.6 216.7 219.8 222.0 227.7 232.9 230.8 229.4 230.8 228.1 217.7 221.0 Total nondurable goods 1,876.6 1,947.2 1,986.7 2,037.1 2,103.0 2,177.6 2,252.7 2,335.3 2,392.6 2,378.4 2,260.1 2,286.3 2,310.8 2,328.7 2,342.0 2,359.8 2,380.1 2,391.5 2,398.6 2,400.2 2,397.9 2,420.7 2,376.3 2,318.6 2,315.2 Food 893.6 925.2 940.2 954.6 977.7 1,009.4 1,047.7 1,090.1 1,110.5 1,109.3 1,053.3 1,063.7 1,077.8 1,090.3 1,093.3 1,099.1 1,102.5 1,110.1 1,110.9 1,118.7 1,122.4 1,133.6 1,112.3 1,069.0 1,060.7 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. Gasoline and oil Clothing and shoes 282.7 297.7 303.7 318.3 334.2 350.7 372.3 394.4 412.9 414.5 371.6 383.7 390.2 391.0 396.1 400.4 409.4 412.2 416.6 413.2 416.3 427.2 412.2 402.3 402.4 176.3 175.7 178.3 181.9 183.2 186.7 187.4 184.2 184.5 177.5 188.6 188.6 186.3 183.2 183.6 183.8 185.1 184.3 184.7 183.8 181.4 179.1 173.3 176.3 178.0 Services Fuel oil and coal 16.4 15.8 15.2 15.5 15.4 14.6 13.2 12.4 13.7 11.9 13.0 12.3 11.5 12.6 12.7 13.0 14.3 13.8 13.3 13.4 12.8 11.9 11.1 11.8 12.5 Total services 1 Other 508.6 532.9 549.2 567.1 593.2 618.0 637.3 666.1 687.3 689.3 638.2 645.4 655.3 663.3 669.0 677.0 683.5 687.1 690.5 687.9 684.8 695.1 695.5 681.6 683.8 3,758.0 3,928.8 4,023.2 4,100.4 4,178.8 4,311.0 4,420.9 4,529.9 4,646.2 4,714.3 4,439.4 4,466.9 4,484.7 4,515.7 4,537.6 4,581.5 4,616.1 4,632.7 4,659.8 4,676.1 4,704.3 4,712.1 4,711.3 4,729.4 4,745.0 22:14 Jun 09, 2009 Jkt 050117 PO 00000 Frm 00004 Fmt 3401 978.6 1,006.5 1,033.7 1,042.1 1,051.9 1,083.8 1,118.4 1,154.6 1,171.7 1,182.4 1,123.7 1,133.1 1,143.2 1,151.7 1,158.8 1,164.7 1,168.0 1,170.4 1,172.5 1,175.9 1,177.3 1,182.3 1,184.5 1,185.6 1,185.2 Source: Department of Commerce, Bureau of Economic Analysis. 4 VerDate Nov 24 2008 Housing Sfmt 3401 E:\HR\OC\ECOIND.004 ECOIND Medical care 989.0 1,026.8 1,075.2 1,136.6 1,180.8 1,216.5 1,257.3 1,290.2 1,327.8 1,374.8 1,263.4 1,273.8 1,283.7 1,287.9 1,289.8 1,299.2 1,316.0 1,319.4 1,331.4 1,344.5 1,360.8 1,370.3 1,378.9 1,389.2 1,396.2 Retail sales of new passenger cars and light trucks (millions of units) 16.9 17.3 17.1 16.8 16.6 16.9 16.9 16.5 16.1 13.2 18.0 15.9 16.8 16.4 16.5 16.3 16.3 16.1 15.9 16.0 15.2 14.1 12.9 10.3 9.5 SOURCES OF PERSONAL INCOME Personal income rose $58.2 billion (annual rate) in April following a decrease of $25.9 billion in March. Wages and salaries rose $3.2 billion in April following a decrease of $35.8 billion in March. [Billions of dollars; monthly data at seasonally adjusted annual rates] Compensation of employees, received 1999 ................. 2000 ................. 2001 ................. 2002 ................. 2003 ................. 2004 ................. 2005 ................. 2006 ................. 2007 ................. 2008 r ................ 2008: Apr ........ May ....... June ...... July ....... Aug ....... Sept ....... Oct r ....... Nov r ...... Dec r ....... 2009: Jan r ....... Feb r ....... Mar r ...... Apr p ...... 1 With hsrobinson on PROD1PC76 with HEARING 2 With Total personal income Total 7,802.4 8,429.7 8,724.1 8,881.9 9,163.6 9,727.2 10,269.8 10,993.9 11,663.2 12,100.6 12,003.1 12,219.8 12,233.6 12,139.9 12,179.8 12,191.4 12,162.6 12,112.0 12,083.8 12,088.6 12,059.6 12,033.7 12,091.9 5,352.0 5,782.7 5,942.1 6,091.2 6,310.4 6,671.4 7,025.8 7,432.6 7,818.6 8,052.8 8,018.1 8,033.1 8,049.3 8,072.3 8,104.2 8,102.3 8,088.0 8,078.1 8,058.5 8,052.5 8,026.8 7,992.8 8,000.8 Wage and salary disbursements 4,466.3 4,829.2 4,942.8 4,980.9 5,112.7 5,394.5 5,671.7 6,027.2 6,362.0 6,548.0 6,519.1 6,530.9 6,543.8 6,563.5 6,592.2 6,589.8 6,574.4 6,564.0 6,544.2 6,525.4 6,497.4 6,461.6 6,464.8 885.7 953.4 999.3 1,110.3 1,197.7 1,276.9 1,354.1 1,405.3 1,456.6 1,504.8 1,498.9 1,502.1 1,505.5 1,508.8 1,511.9 1,512.5 1,513.7 1,514.2 1,514.3 1,527.0 1,529.4 1,531.3 1,536.0 Farm Nonfarm 28.6 22.7 19.7 10.6 29.2 37.3 34.1 16.2 44.0 34.6 39.4 38.4 36.1 35.0 32.5 29.6 27.0 26.1 25.9 25.2 23.7 23.4 27.2 inventory valuation and capital consumption adjustments. capital consumption adjustment. mainly of social insurance benefits to persons. Personal income receipts on assets Rental income of persons 2 649.7 705.7 752.2 757.8 782.1 874.3 925.7 998.6 1,012.2 1,037.9 1,031.9 1,037.7 1,047.4 1,055.0 1,047.3 1,042.2 1,048.0 1,031.3 1,023.4 1,016.0 1,018.8 1,011.6 1,012.3 147.3 150.3 167.4 152.9 133.0 118.4 40.9 44.3 40.0 64.4 49.1 58.3 68.3 72.8 77.3 55.5 87.1 90.9 96.1 92.6 90.0 86.8 89.5 Total 1,264.2 1,387.0 1,380.0 1,333.2 1,336.6 1,432.1 1,596.9 1,824.8 2,000.1 2,037.7 2,051.8 2,052.3 2,052.8 2,054.1 2,055.6 2,057.3 2,023.0 1,988.6 1,954.0 1,933.5 1,912.9 1,892.4 1,889.7 Personal interest income 928.6 1,011.0 1,011.0 936.1 914.1 895.1 1,022.0 1,125.4 1,214.3 1,208.5 1,213.0 1,208.7 1,204.5 1,210.9 1,217.4 1,223.8 1,203.6 1,183.4 1,163.2 1,156.6 1,150.0 1,143.4 1,145.7 Personal dividend income 335.6 376.1 369.0 397.2 422.6 537.0 574.9 699.4 785.8 829.1 838.8 843.6 848.3 843.2 838.2 833.4 819.4 805.2 790.8 776.9 762.9 749.0 744.0 Personal current transfer receipts 3 1,022.1 1,084.0 1,193.9 1,286.2 1,351.0 1,422.5 1,520.7 1,603.0 1,713.3 1,869.1 1,807.5 1,995.3 1,976.0 1,849.0 1,864.3 1,904.8 1,887.2 1,892.5 1,918.3 1,967.3 1,981.4 2,015.7 2,061.4 Less: Contributions for government social insurance 661.4 702.7 731.1 750.0 778.6 828.8 874.3 925.5 965.1 995.7 994.5 995.4 996.3 998.2 1,001.4 1,000.3 997.8 995.5 992.4 998.5 994.0 989.0 989.0 Note.—Revisions include changes to series affected by revised wage and salary estimates for 2008:IV. Source: Department of Commerce, Bureau of Economic Analysis. 3 Consists 5 VerDate Nov 24 2008 22:14 Jun 09, 2009 Jkt 050117 PO 00000 Frm 00005 Fmt 3401 Sfmt 3401 E:\HR\OC\ECOIND.005 ECOIND g:\graphics\eecoind.005 Period Supplements to wages and salaries Proprietors’ income 1 DISPOSITION OF PERSONAL INCOME According to revised estimates, per capita disposable personal income in chained (2000) dollars rose at an annual rate of 5.6 percent in the first quarter of 2009. 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 1999 ............ 2000 ............ 2001 ............ 2002 ............ 2003 ............ 2004 ............ 2005 ............ 2006 ............ 2007 ............ 2008 r .......... 7,802.4 8,429.7 8,724.1 8,881.9 9,163.6 9,727.2 10,269.8 10,993.9 11,663.2 12,100.6 Chained (2000) dollars Per capita personal consumption expenditures Current dollars Chained (2000) dollars Dollars 1,107.5 6,695.0 6,536.4 1,235.7 7,194.0 7,025.6 1,237.3 7,486.8 7,354.5 1,051.8 7,830.1 7,645.3 1,001.1 8,162.5 7,987.7 1,046.3 8,680.9 8,499.2 1,207.8 9,062.0 9,029.5 1,353.2 9,640.7 9,570.0 1,492.8 10,170.5 10,113.1 1,457.3 10,643.3 10,450.7 158.6 168.5 132.3 184.7 174.9 181.7 32.5 70.7 57.4 192.7 6,861.3 7,194.0 7,333.3 7,562.2 7,729.9 8,008.9 8,121.4 8,407.0 8,644.0 8,753.6 23,968 25,473 26,243 27,183 28,076 29,592 30,611 32,263 33,706 34,950 Percent change in real per capita disposable personal income Saving as percent of disposable personal income Population, including Armed Forces overseas (thousands) 2 Percent 24,564 25,473 25,704 26,253 26,588 27,302 27,434 28,134 28,648 28,745 22,491 23,864 24,729 25,518 26,498 27,939 29,368 30,812 32,181 33,028 23,050 23,864 24,222 24,646 25,093 25,776 26,320 26,869 27,351 27,164 1.8 3.7 .9 2.1 1.3 2.7 .5 2.6 1.8 .3 2.4 2.3 1.8 2.4 2.1 2.1 .4 .7 .6 1.8 279,328 282,413 285,294 288,055 290,729 293,348 296,036 298,820 301,737 304,529 27,276 27,706 27,991 28,018 28,101 28,424 28,664 28,555 28,702 28,670 28,560 29,234 28,525 28,657 29,053 29,662 29,934 30,316 30,704 31,031 31,194 31,681 32,049 32,325 32,664 32,957 33,335 33,337 32,484 32,461 26,446 26,472 26,692 26,817 26,895 27,070 27,265 27,336 27,403 27,399 27,401 27,427 27,095 26,734 26,782 ¥2.3 6.5 4.2 .4 1.2 4.7 3.4 ¥1.5 2.1 ¥.4 ¥1.5 9.8 ¥9.4 1.9 5.6 ¥.7 .8 1.0 .6 .5 .9 1.1 .3 .5 .4 .2 2.5 1.3 3.2 4.4 296,378 297,109 297,743 298,399 299,175 299,965 300,644 301,332 302,108 302,865 303,498 304,128 304,872 305,619 306,245 2005: III .... IV .... 2006: I ....... II ..... III .... IV .... 2007: I ....... II ..... III .... IV .... 2008: I ....... II ..... III .... IV r ... 2009: I r ..... 10,289.1 10,561.0 10,781.6 10,913.2 11,056.1 11,224.7 11,473.0 11,577.5 11,730.4 11,872.1 11,960.5 12,152.2 12,170.4 12,119.5 12,060.6 1,222.3 1,252.5 1,316.0 1,341.1 1,356.2 1,399.6 1,459.5 1,489.4 1,501.6 1,520.5 1,535.0 1,346.1 1,470.7 1,477.4 1,276.7 9,066.9 9,308.6 9,465.6 9,572.1 9,699.9 9,825.1 10,013.5 10,088.0 10,228.8 10,351.5 10,425.5 10,806.0 10,699.7 10,642.0 10,783.9 9,129.8 9,234.2 9,371.2 9,518.0 9,651.8 9,739.0 9,904.2 10,056.9 10,182.0 10,309.2 10,404.9 10,538.2 10,559.9 10,299.7 10,308.4 ¥62.9 74.4 94.4 54.2 48.1 86.1 109.3 31.1 46.8 42.4 20.6 267.9 139.8 342.3 475.5 8,084.0 8,231.8 8,334.2 8,360.4 8,407.1 8,526.2 8,617.7 8,604.5 8,671.1 8,683.1 8,667.9 8,891.0 8,696.4 8,758.2 8,897.4 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. 30,592 31,331 31,791 32,078 32,422 32,754 33,307 33,478 33,858 34,179 34,351 35,531 35,096 34,821 35,213 Note.—Revisions include changes to series affected by revised wage and salary estimates for 2008:IV. Source: Department of Commerce (Bureau of Economic Analysis and Bureau of the Census). 6 VerDate Nov 24 2008 22:14 Jun 09, 2009 Jkt 050117 PO 00000 Frm 00006 Fmt 3401 Sfmt 3401 E:\HR\OC\ECOIND.006 ECOIND g:\graphics\eecoind.006 hsrobinson on PROD1PC76 with HEARING Seasonally adjusted annual rates FARM INCOME According to the preliminary forecast for 2009, gross farm income is forecast at $348.3 billion, and net farm income at $71.2 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 hsrobinson on PROD1PC76 with HEARING 2000 ................................ 2001 ................................ 2002 ................................ 2003 ................................ 2004 ................................ 2005 ................................ 2006 ................................ 2007 ................................ 2008 ................................ 2009 p .............................. 2007: I .......................... II ......................... III ........................ IV ........................ 2008: I .......................... II ......................... III ........................ IV ........................ 2009: I p ......................... II p ........................ III p ...................... IV p ....................... 243.6 251.8 232.6 260.0 295.6 301.1 292.4 341.1 379.9 348.3 336.5 335.1 337.1 355.8 419.1 369.6 385.0 345.8 376.7 332.5 336.2 348.0 Livestock and products 192.0 200.0 194.9 215.6 237.2 240.9 240.8 284.8 324.2 294.6 270.8 286.1 287.3 295.1 348.2 322.1 335.1 291.6 309.8 287.1 289.7 292.0 99.6 106.7 94.0 105.6 123.6 124.9 118.2 137.9 143.1 132.2 138.8 139.2 138.0 135.6 149.6 143.7 145.6 133.7 133.7 128.4 130.2 136.4 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 92.4 93.3 101.0 110.0 113.6 116.0 122.6 147.0 181.1 162.4 132.0 147.0 149.2 159.6 198.6 178.4 189.5 157.9 176.0 158.6 159.5 155.6 1.6 1.1 ¥3.4 ¥2.4 11.2 .5 ¥3.0 3.7 .3 .¥1.8 3.6 3.8 3.8 3.9 .3 .3 .3 .3 ¥1.9 ¥1.8 ¥1.8 ¥1.8 Direct Government payments 4 23.2 22.4 12.4 16.5 13.0 24.4 15.8 11.9 12.4 11.4 23.5 4.4 5.1 14.7 24.4 4.6 5.3 15.3 22.4 4.2 4.8 14.0 Production expenses 193.1 196.9 193.1 199.6 209.8 221.8 233.9 254.4 290.6 277.1 241.9 255.5 256.5 263.6 312.1 288.6 300.3 261.4 291.4 270.0 272.5 274.7 Net farm income 50.6 54.9 39.6 60.5 85.8 79.3 58.5 86.8 89.3 71.2 94.6 79.6 80.6 92.3 107.0 81.0 84.8 84.5 85.3 62.5 63.7 73.3 4 Includes only Government payments made directly to farmers. NOTE.—Data for 2008 are preliminary, while data for 2009 are forecasts. Source: Department of Agriculture. 7 VerDate Nov 24 2008 22:14 Jun 09, 2009 Jkt 050117 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 2009, according to current estimates, corporate profits before tax rose $152.1 billion (annual rate) and profits after tax rose $120.6 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 hsrobinson on PROD1PC76 with HEARING Total 1998 4 ............................ 1999 .............................. 2000 .............................. 2001 .............................. 2002 .............................. 2003 .............................. 2004 .............................. 2005 ............................... 2006 ............................... 2007 ............................... 2008 .............................. 2005: III ....................... IV ....................... 2006: I .......................... II ........................ III ....................... IV ....................... 2007: I .......................... II ........................ III ....................... IV ....................... 2008: I .......................... II ....................... III ...................... IV ...................... 2009: I p ....................... 1 See 738.5 776.8 759.3 719.2 766.2 894.5 1,161.6 1,582.8 1,834.2 1,835.1 1,548.2 1,497.1 1,684.6 1,778.7 1,841.6 1,887.2 1,829.3 1,794.7 1,859.5 1,866.1 1,820.2 1,641.5 1,596.0 1,602.8 1,352.6 1,452.0 635.5 655.3 613.6 549.5 610.4 729.0 968.2 1,343.3 1,566.7 1,490.5 1,161.7 1,244.2 1,447.2 1,528.3 1,571.9 1,626.7 1,540.0 1,496.6 1,556.7 1,509.7 1,398.9 1,243.1 1,222.5 1,224.4 956.7 1,065.4 Financial 165.4 194.3 200.2 227.6 276.4 317.3 348.9 425.3 478.8 449.9 308.9 362.3 431.4 470.0 493.1 473.3 478.8 454.1 492.7 460.3 392.4 412.8 383.2 308.8 130.9 252.2 Total 3 Manufacturing Utilities Wholesale Retail 470.1 157.0 32.7 53.2 66.4 461.1 150.6 33.1 55.5 65.2 413.4 144.3 24.4 59.7 59.6 322.0 52.6 24.7 52.1 71.0 334.0 48.2 10.6 49.3 79.4 411.8 76.0 11.6 55.2 86.8 619.3 152.7 18.6 79.2 91.1 918.1 243.8 28.9 97.3 120.4 1,087.9 304.3 55.6 107.5 132.3 1,040.6 316.6 58.5 102.6 132.3 852.7 239.8 54.6 76.5 91.7 881.9 241.6 21.7 85.5 114.8 1,015.8 251.6 38.2 103.8 137.8 1,058.3 279.2 44.9 102.3 133.5 1,078.8 305.8 53.5 94.5 126.0 1,153.4 333.5 62.5 128.3 132.1 1,061.2 298.9 61.4 104.9 137.5 1,042.5 317.0 57.2 108.2 132.8 1,064.0 350.8 54.7 112.7 145.9 1,049.3 306.6 58.7 109.1 126.0 1,006.5 292.1 63.2 80.2 124.5 830.2 240.5 46.2 49.2 112.0 839.3 214.9 56.7 59.4 92.7 915.6 272.6 59.1 92.1 86.2 825.8 231.2 56.3 105.2 75.8 813.1 ................ ................ .............. .............. 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 718.3 775.9 773.4 707.9 768.4 908.1 1,204.7 1,620.6 1,873.7 1,886.3 1,597.3 1,536.3 1,733.3 1,813.8 1,900.1 1,929.9 1,851.1 1,838.9 1,914.8 1,897.1 1,894.3 1,750.9 1,750.0 1,693.7 1,194.5 1,346.6 248.3 258.6 265.2 204.1 192.6 243.3 307.4 413.7 468.9 450.4 366.6 386.4 449.2 453.8 474.8 487.2 459.8 448.5 468.5 451.1 433.5 402.9 406.8 393.5 263.2 294.8 Total 470.0 517.2 508.2 503.8 575.8 664.8 897.3 1,206.9 1,404.8 1,435.9 1,230.6 1,149.9 1,284.1 1,359.9 1,425.2 1,442.6 1,391.4 1,390.4 1,446.3 1,446.1 1,460.9 1,348.0 1,343.2 1,300.1 931.2 1,051.8 22:14 Jun 09, 2009 Jkt 050117 PO 00000 Frm 00008 Fmt 3401 351.6 337.4 377.9 370.9 399.2 424.7 539.5 577.4 702.1 788.7 832.1 581.4 613.4 652.8 688.8 720.9 745.8 761.5 779.2 797.6 816.4 832.5 846.4 841.1 808.3 766.1 118.3 179.9 130.3 132.9 176.6 240.1 357.8 629.5 702.7 647.3 398.6 568.4 670.6 707.1 736.4 721.7 645.6 629.0 667.1 648.5 644.5 515.5 496.7 459.1 122.9 285.7 20.2 1.0 ¥14.1 11.3 ¥2.2 ¥13.6 ¥43.1 ¥37.8 ¥39.5 ¥51.2 ¥49.0 ¥39.1 ¥48.7 ¥35.0 ¥58.5 ¥42.7 ¥21.8 ¥44.2 ¥55.3 ¥31.0 ¥74.1 ¥109.4 ¥154.0 ¥90.9 158.1 105.3 4 Data by industry beginning 1998 are based on the 1997 North American Industry Classification System (NAICS). Source: Department of Commerce, Bureau of Economic Analysis. 8 VerDate Nov 24 2008 Net dividends Inventory Undisvalutributed ation adprofits justment 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 2009, according to revised estimates, nonresidential fixed investment in chained (2000) dollars fell $146.0 billion (annual rate) and residential investment fell $38.2 billion. There was a decrease of $91.4 billion in inventories following a decrease of $25.8 billion in the fourth quarter. [Billions of chained (2000) dollars; quarterly data at seasonally adjusted annual rates] Fixed investment Period hsrobinson on PROD1PC76 with HEARING 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 Change in private inventories Nonresidential Total Total Equipment and software Residential Structures Total Nonfarm ................................................................................. ................................................................................. ................................................................................. ................................................................................. ................................................................................. ................................................................................. ................................................................................. ................................................................................. .................................................................................. ................................................................................. 1,642.6 1,735.5 1,598.4 1,557.1 1,613.1 1,770.2 1,873.5 1,912.5 1,809.7 1,689.1 1,576.3 1,679.0 1,629.4 1,544.6 1,596.9 1,712.8 1,829.8 1,865.5 1,808.5 1,718.9 1,133.3 1,232.1 1,180.5 1,071.5 1,081.8 1,144.3 1,226.2 1,318.2 1,382.9 1,405.4 293.2 313.2 306.1 253.8 243.5 246.7 249.8 270.3 304.6 338.8 840.2 918.9 874.2 820.2 843.1 905.1 989.6 1,061.0 1,078.9 1,047.0 443.6 446.9 448.5 469.9 509.4 560.2 595.4 552.9 453.8 359.5 68.9 56.5 ¥31.7 12.5 14.3 54.3 38.9 42.3 ¥2.5 ¥29.0 71.5 57.8 ¥31.8 15.2 14.0 48.2 39.1 46.3 ¥3.7 ¥34.3 2005: III .......................................................................... IV .......................................................................... 1,862.8 1,917.3 1,847.2 1,858.0 1,237.1 1,248.2 246.2 247.4 1,006.5 1,017.4 601.7 602.0 11.0 53.5 6.2 53.2 2006: I ............................................................................. II ........................................................................... III ......................................................................... IV .......................................................................... 1,946.3 1,944.3 1,917.8 1,841.6 1,895.2 1,883.1 1,860.0 1,823.7 1,295.2 1,315.4 1,332.7 1,329.3 256.5 268.3 277.4 279.1 1,056.6 1,061.2 1,066.4 1,059.9 596.5 570.1 536.7 508.4 45.9 56.9 53.3 13.1 45.4 63.3 59.9 16.4 2007: I ............................................................................. II ........................................................................... III .......................................................................... IV .......................................................................... 2008: I ............................................................................. II ........................................................................... III ......................................................................... IV .......................................................................... 1,795.9 1,822.9 1,838.7 1,781.3 1,754.7 1,702.0 1,703.7 1,596.0 1,807.8 1,821.3 1,817.0 1,788.2 1,762.4 1,754.9 1,731.1 1,627.0 1,340.4 1,373.8 1,402.9 1,414.7 1,423.1 1,431.8 1,425.7 1,341.1 286.6 298.9 313.2 319.7 326.4 340.5 348.4 339.9 1,060.0 1,077.9 1,087.5 1,090.1 1,088.6 1,074.7 1,054.0 970.5 486.4 471.7 445.3 411.6 383.0 369.6 353.7 331.6 ¥15.0 ¥2.8 16.0 ¥8.1 ¥10.2 ¥50.6 ¥29.6 ¥25.8 ¥10.7 ¥2.6 19.2 ¥20.6 ¥17.9 ¥55.1 ¥33.3 ¥31.1 2009: I r ........................................................................... 1,346.7 1,447.6 1,195.1 296.2 876.4 293.4 ¥91.4 ¥99.0 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 Nov 24 2008 22:14 Jun 09, 2009 Jkt 050117 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 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2005: Structures Information processing equipment and software Total fixed investment 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 .................... 1,576.3 1,679.0 1,629.4 1,544.6 1,596.9 1,712.8 1,829.8 1,865.5 1,808.5 1,718.9 1,847.2 1,858.0 1,133.3 1,232.1 1,180.5 1,071.5 1,081.8 1,144.3 1,226.2 1,318.2 1,382.9 1,405.4 1,237.1 1,248.2 293.2 313.2 306.1 253.8 243.5 246.7 249.8 270.3 304.6 338.8 246.2 247.4 840.2 918.9 874.2 820.2 843.1 905.1 989.6 1,061.0 1,078.9 1,047.0 1,006.5 1,017.4 398.5 467.6 459.0 437.4 462.7 505.7 546.7 596.6 653.9 685.0 552.7 564.3 ............. ............. ............. ............. ............. ............. ............. ............. ............. ............. ............. ............. 157.2 176.2 173.8 169.7 177.3 193.6 207.0 215.5 237.0 248.4 208.2 211.4 158.0 190.0 181.7 161.1 167.1 181.1 191.6 206.7 218.0 226.1 195.3 194.9 147.9 159.2 145.7 134.5 138.4 134.0 145.3 153.5 155.7 149.2 146.3 152.0 167.7 160.8 142.8 126.0 113.8 130.6 149.5 159.5 139.4 99.6 157.2 150.3 126.7 131.2 126.9 122.9 130.4 138.3 150.4 156.5 148.4 146.3 151.7 153.7 443.6 446.9 448.5 469.9 509.4 560.2 595.4 552.9 453.8 359.5 601.7 602.0 436.6 439.5 441.1 462.2 501.2 551.2 586.0 543.5 444.9 351.3 592.3 592.4 234.2 236.8 237.1 246.3 272.6 305.3 325.9 294.9 214.1 136.0 327.6 333.7 7.0 7.4 7.4 7.7 8.1 9.0 9.3 9.6 9.5 9.1 9.2 9.5 2006: I ...................... II ..................... III ................... IV .................... 1,895.2 1,883.1 1,860.0 1,823.7 1,295.2 1,315.4 1,332.7 1,329.3 256.5 268.3 277.4 279.1 1,056.6 1,061.2 1,066.4 1,059.9 586.2 590.9 603.9 605.3 ............. ............. ............. ............. 212.5 213.2 215.8 220.5 207.6 205.1 209.4 204.8 149.9 157.2 153.8 153.2 165.3 157.9 159.7 155.2 158.2 158.7 155.2 153.8 596.5 570.1 536.7 508.4 586.8 560.6 527.4 499.3 333.1 308.7 282.7 255.2 9.7 9.7 9.6 9.4 2007: I ...................... II ..................... III ................... IV .................... 1,807.8 1,821.3 1,817.0 1,788.2 1,340.4 1,373.8 1,402.9 1,414.7 286.6 298.9 313.2 319.7 1,060.0 1,077.9 1,087.5 1,090.1 629.9 647.3 660.9 677.6 ............. ............. ............. ............. 227.9 235.7 239.4 245.1 212.5 216.2 219.6 223.5 150.3 160.3 159.1 153.1 149.0 139.4 137.4 131.9 145.3 147.5 149.2 151.5 486.4 471.7 445.3 411.6 477.3 462.8 436.5 403.0 235.6 227.3 210.3 182.9 9.5 9.5 9.5 9.4 2008: I ...................... II ..................... III ................... IV .................... 1,762.4 1,754.9 1,731.1 1,627.0 1,423.1 1,431.8 1,425.7 1,341.1 326.4 340.5 348.4 339.9 1,088.6 1,074.7 1,054.0 970.5 689.6 702.9 695.5 651.8 ............. ............. ............. ............. 251.0 252.3 249.5 240.8 223.6 230.6 233.6 216.6 153.4 152.0 148.6 142.8 127.0 108.6 93.6 69.3 146.5 145.3 151.5 141.9 383.0 369.6 353.7 331.6 374.6 361.1 345.6 323.9 156.7 142.9 130.5 113.8 9.3 9.5 9.0 8.6 2009: I r ..................... 1,447.6 1,195.1 296.2 876.4 620.2 ............. 227.8 206.2 121.6 49.2 128.3 293.4 286.0 86.2 8.4 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 and agricultural services Mining Con- ManuUtili- strucfacties turtion ing 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 hsrobinson on PROD1PC76 with HEARING For companies with employees 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ 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 1,144.8 1,062.5 2.7 66.7 58.0 30.1 165.6 40.6 73.5 56.9 91.4 161.4 103.0 33.1 73.8 105.6 82.2 1,309.9 1,217.1 2.7 99.3 69.8 30.3 192.4 36.6 86.7 68.0 104.4 163.1 132.1 30.3 75.3 126.3 92.8 1,361.6 1,277.4 2.1 121.7 83.6 36.7 197.0 31.8 84.2 68.5 105.3 172.5 123.0 31.8 83.8 135.3 84.2 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 Nov 24 2008 22:14 Jun 09, 2009 Jkt 050117 PO 00000 Frm 00010 Fmt 3401 Sfmt 3401 E:\HR\OC\ECOIND.010 ECOIND EMPLOYMENT, UNEMPLOYMENT, AND WAGES STATUS OF THE LABOR FORCE In May, employment fell by 437,000 and unemployment rose by 787,000. [Thousands of persons 16 years of age and over, except as noted; monthly data seasonally adjusted except as noted by NSA] Civilian employment 1999 2 .................... 2000 2 .................... 2001 ..................... 2002 ...................... 2003 2 .................... 2004 2 .................... 2005 2 .................... 2006 2 .................... 2007 2 .................... 2008 2 .................... 2008: May ........... June .......... July ........... Aug ........... Sept ........... Oct ............ Nov ............ Dec ............ 2009: Jan 2 .......... Feb ............ Mar ........... Apr ............ May ........... Civilian noninstitutional population (NSA) Civilian labor force 207,753 212,577 215,092 217,570 221,168 223,357 226,082 228,815 231,867 233,788 233,405 233,627 233,864 234,107 234,360 234,612 234,828 235,035 234,739 234,913 235,086 235,271 235,452 139,368 142,583 143,734 144,863 146,510 147,401 149,320 151,428 153,124 154,287 154,510 154,400 154,506 154,823 154,621 154,878 154,620 154,447 153,716 154,214 154,048 154,731 155,081 Total Men 20 years and over Women 20 years and over Both sexes 16–19 years Total 133,488 136,891 136,933 136,485 137,736 139,252 141,730 144,427 146,047 145,362 145,974 145,738 145,596 145,273 145,029 144,657 144,144 143,338 142,099 141,748 140,887 141,007 140,570 67,761 69,634 69,776 69,734 70,415 71,572 73,050 74,431 75,337 74,750 74,992 74,949 75,973 74,737 74,503 74,292 74,045 73,285 72,613 72,293 71,655 71,678 71,593 58,555 60,067 60,417 60,420 61,402 61,773 62,702 63,834 64,799 65,039 65,114 65,169 65,103 65,003 65,008 64,975 64,902 64,860 64,298 64,271 64,148 64,226 63,895 7,172 7,189 6,740 6,332 5,919 5,907 5,978 6,162 5,911 5,573 5,868 5,620 5,520 5,533 5,518 5,390 5,196 5,194 5,188 5,184 5,083 5,103 5,082 5,880 5,692 6,801 8,378 8,774 8,149 7,591 7,001 7,078 8,924 8,536 8,662 8,910 9,550 9,592 10,221 10,476 11,108 11,616 12,467 13,161 13,724 14,511 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 2009 data reflect revised population controls and are not strictly comparable with earlier data. Men 20 years and over 2,433 2,376 3,040 3,896 4,209 3,791 3,392 3,131 3,259 4,297 3,921 4,106 4,313 4,572 4,889 5,088 5,290 5,714 5,972 6,394 6,923 7,403 7,802 Women 20 years and over Both sexes 16–19 years 2,285 2,235 2,599 3,228 3,314 3,150 3,013 2,751 2,718 3,342 3,252 3,252 3,170 3,662 3,377 3,725 3,851 4,031 4,286 4,646 4,828 4,922 5,217 1,162 1,081 1,162 1,253 1,251 1,208 1,186 1,119 1,101 1,285 1,363 1,304 1,427 1,316 1,326 1,408 1,335 1,363 1,359 1,427 1,410 1,398 1,491 Not in labor force Labor force participation rate Employment/ population ratio Unemployment rate 67.1 67.1 66.8 66.6 66.2 66.0 66.0 66.2 66.0 66.0 66.2 66.1 66.1 66.1 66.0 66.0 65.8 65.7 65.5 65.6 65.5 65.8 65.9 64.3 64.4 63.7 62.7 62.3 62.3 62.7 63.1 63.0 62.2 62.5 62.4 62.3 62.1 61.9 61.7 61.4 61.0 60.5 60.3 59.9 59.9 59.7 4.2 4.0 4.7 5.8 6.0 5.5 5.1 4.6 4.6 5.8 5.5 5.6 5.8 6.2 6.2 6.6 6.8 7.2 7.6 8.1 8.5 8.9 9.4 68,385 69,994 71,359 72,707 74,658 75,956 76,762 77,387 78,743 79,501 78,895 79,227 79,358 79,284 79,739 79,734 80,208 80,588 81,023 80,699 81,038 80,541 80,371 See Employment and Earnings for details on breaks in series. Source: Department of Labor, Bureau of Labor Statistics. 11 VerDate Nov 24 2008 22:14 Jun 09, 2009 Jkt 050117 PO 00000 Frm 00011 Fmt 3401 Sfmt 3401 E:\HR\OC\ECOIND.011 ECOIND g:\graphics\eecoind.011 hsrobinson on PROD1PC76 with HEARING Period Percent 1 Unemployment SELECTED UNEMPLOYMENT RATES In May, the unemployment rate rose to 9.4 percent from 8.9 percent in April. [Monthly data seasonally adjusted] Unemployment rate (percent of civilian labor force in group) By race or ethnicity 1 hsrobinson on PROD1PC76 with HEARING Period All civilian workers 1999 ......................... 2000 ........................ 2001 ........................ 2002 ........................ 2003 ........................ 2004 ......................... 2005 ......................... 2006 ......................... 2007 ......................... 2008 ......................... 2008: May .............. June ............. July .............. Aug .............. Sept .............. Oct ............... Nov .............. Dec ............... 2009: Jan ............... Feb ............... Mar .............. Apr ............... May .............. Men 20 years and over Women 20 years and over 3.5 3.3 4.2 5.3 5.6 5.0 4.4 4.0 4.1 5.4 5.0 5.2 5.4 5.8 6.2 6.4 6.7 7.2 7.6 8.1 8.8 9.4 9.8 3.8 3.6 4.1 5.1 5.1 4.9 4.6 4.1 4.0 4.9 4.8 4.8 4.6 5.3 4.9 5.4 5.6 5.9 6.2 6.7 7.0 7.1 7.5 4.2 4.0 4.7 5.8 6.0 5.5 5.1 4.6 4.6 5.8 5.5 5.6 5.8 6.2 6.2 6.6 6.8 7.2 7.6 8.1 8.5 8.9 9.4 Both sexes 16–19 years White 13.9 13.1 14.7 16.5 17.5 17.0 16.6 15.4 15.7 18.7 18.9 18.8 20.5 19.2 19.4 20.7 20.4 20.8 20.8 21.6 21.7 21.5 22.7 3.7 3.5 4.2 5.1 5.2 4.8 4.4 4.0 4.1 5.2 4.9 5.0 5.2 5.5 5.5 6.0 6.2 6.6 6.9 7.3 7.9 8.0 8.6 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 8.0 7.6 8.6 10.2 10.8 10.4 10.0 8.9 8.3 10.1 9.7 9.4 9.9 10.7 11.4 11.3 11.3 11.9 12.6 13.4 13.3 15.0 14.9 .......... 3.6 4.5 5.9 6.0 4.4 4.0 3.0 3.2 4.0 3.8 4.5 4.0 4.4 3.8 3.8 4.8 5.1 6.2 6.9 6.4 6.6 6.7 6.4 5.7 6.6 7.5 7.7 7.0 6.0 5.2 5.6 7.6 7.0 7.7 7.5 8.1 7.9 8.8 8.6 9.2 9.7 10.9 11.4 11.3 12.7 Married men, spouse present 2.2 2.0 2.7 3.6 3.8 3.1 2.8 2.4 2.5 3.4 3.0 3.1 3.3 3.7 3.9 4.1 4.2 4.4 5.0 5.5 5.8 6.3 6.8 22:14 Jun 09, 2009 Jkt 050117 PO 00000 Frm 00012 Fmt 3401 Full-time workers Part-time workers 6.4 5.9 6.6 8.0 8.5 8.0 7.8 7.1 6.5 8.0 6.9 7.9 8.5 9.6 8.2 8.8 9.3 9.5 10.3 10.3 10.8 10.0 11.0 4.1 3.8 4.7 5.9 6.1 5.6 5.0 4.5 4.6 5.8 5.5 5.6 5.8 6.3 6.3 6.8 7.0 7.5 8.0 8.6 9.2 9.6 10.2 5.0 4.8 5.1 5.2 5.5 5.3 5.4 5.1 4.9 5.5 5.5 5.4 5.6 5.7 5.9 5.7 5.8 5.9 5.9 5.8 5.9 6.1 6.0 NOTE.—Data relate to persons age 16 years and over. Source: Department of Labor, Bureau of Labor Statistics. 12 VerDate Nov 24 2008 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 May, the percentages of the unemployed who had been out of work for less than 5 weeks and for 27 weeks and over fell; the percentages for 5–14 weeks and for 15–26 weeks rose. The mean duration of unemployment rose to 22.5 weeks and the median duration rose to 14.9 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 1999 ........................................ 2000 ........................................ 2001 ........................................ 2002 ........................................ 2003 ........................................ 2004 ........................................ 2005 ........................................ 2006 ........................................ 2007 ........................................ 2008 ........................................ 2008: May ............................. June ............................ July ............................. Aug .............................. Sept ............................. Oct .............................. Nov .............................. Dec .............................. 2009: Jan .............................. Feb .............................. Mar ............................. Apr .............................. May ............................. 5,880 5,692 6,801 8,378 8,774 8,149 7,591 7,001 7,078 8,924 8,536 8,662 8,910 9,550 9,592 10,221 10,476 11,108 11,616 12,467 13,161 13,724 14,511 43.7 44.9 42.0 34.5 31.7 33.1 35.1 37.3 35.9 32.8 38.1 31.4 32.4 33.9 29.8 30.3 31.4 29.2 31.0 26.9 25.7 24.7 22.4 31.2 31.9 32.3 30.8 29.8 29.2 30.4 30.3 31.5 31.4 29.0 34.6 32.0 30.1 32.1 29.7 30.3 30.4 29.8 31.4 30.8 29.4 29.6 12.8 11.8 14.0 16.3 16.4 15.9 14.9 14.7 15.0 16.0 14.5 15.4 16.3 16.4 16.9 17.9 17.0 17.2 16.8 18.6 19.3 18.7 20.9 12.3 11.4 11.8 18.3 22.1 21.8 19.6 17.6 17.6 19.7 18.4 18.6 19.3 19.6 21.2 22.1 21.3 23.2 22.4 23.1 24.2 27.2 27.0 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. 13.4 12.6 13.1 16.6 19.2 19.6 18.4 16.8 16.8 17.9 16.8 17.6 17.3 17.6 18.7 19.8 18.9 19.7 19.8 19.8 20.1 21.4 22.5 6.4 5.9 6.8 9.1 10.1 9.8 8.9 8.3 8.5 9.4 8.3 10.1 9.8 9.3 10.3 10.6 10.0 10.6 10.3 11.0 11.2 12.5 14.9 44.6 44.2 51.1 55.0 55.1 51.5 48.3 47.4 49.7 53.7 50.5 51.7 51.3 52.6 54.9 56.8 58.6 58.4 61.1 62.3 63.5 64.4 65.4 13.3 13.7 12.3 10.3 9.3 10.5 11.5 11.8 11.2 10.0 10.3 9.8 9.8 10.5 10.1 9.2 8.9 9.1 8.0 6.6 6.8 6.5 6.2 34.1 34.5 29.9 28.3 28.2 29.5 31.4 32.0 30.3 27.7 29.5 29.7 29.8 28.2 26.6 25.9 25.3 25.1 24.1 22.9 22.9 22.5 21.8 8.0 7.6 6.8 6.4 7.3 8.4 8.8 8.8 8.9 8.6 9.7 8.8 9.1 8.7 8.4 8.1 7.2 7.5 6.8 8.1 6.7 6.6 6.6 2,188 2,110 2,974 3,585 3,531 2,950 2,661 2,476 2,572 3,306 3,095 3,155 3,276 3,460 3,620 3,821 4,125 4,430 4,670 5,085 5,686 6,297 .............. 298 301 404 407 404 345 328 313 324 424 374 392 412 441 471 480 520 537 573 637 658 630 p 630 2,219 2,141 3,007 3,619 3,569 2,995 2,706 2,518 2,610 3,343 2,667 3,108 3,006 3,179 3,164 2,980 3,819 4,778 5,378 6,097 6,925 6,046 ................. 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 Nov 24 2008 22:14 Jun 09, 2009 Jkt 050117 PO 00000 Frm 00013 Fmt 3401 Sfmt 3401 E:\HR\OC\ECOIND.013 ECOIND g:\graphics\eecoind.013 hsrobinson on PROD1PC76 with HEARING Weekly average, thousands NONAGRICULTURAL EMPLOYMENT Total nonagricultural employment as measured by the payroll survey fell by 345,000 in May. [Thousands of wage and salary workers; 1 monthly data seasonally adjusted] Goods-producing industries Period .................. .................. .................. .................. .................. .................. .................. .................. .................. .................. May ........ June ....... July ........ Aug ........ Sept ....... Oct ......... Nov ........ Dec ......... 2009: Jan ......... Feb ........ Mar r ....... Apr r ....... May p ...... hsrobinson on PROD1PC76 with HEARING 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2008: 128,993 131,785 131,826 130,341 129,999 131,435 133,703 136,086 137,598 137,066 137,517 137,356 137,228 137,053 136,732 136,352 135,755 135,074 134,333 133,652 133,000 132,496 132,151 Total 2 24,465 24,649 23,873 22,557 21,816 21,882 22,190 22,531 22,233 21,419 21,612 21,507 21,432 21,351 21,247 21,063 20,814 20,532 20,127 19,832 19,520 19,246 19,021 Construction 6,545 6,787 6,826 6,716 6,735 6,976 7,336 7,691 7,630 7,215 7,293 7,232 7,201 7,177 7,131 7,066 6,939 6,841 6,706 6,593 6,470 6,362 6,303 Manufacturing 17,322 17,263 16,441 15,259 14,510 14,315 14,226 14,155 13,879 13,431 13,556 13,505 13,454 13,387 13,322 13,203 13,082 12,902 12,640 12,468 12,296 12,142 11,986 Service-providing industries Trade, transportation, and utilities Total 104,528 107,136 107,952 107,784 108,183 109,553 111,513 113,556 115,366 115,646 115,905 115,849 115,796 115,702 115,485 115,289 114,941 114,542 114,206 113,820 113,480 113,250 113,130 Total 3 Retail trade 25,771 26,225 25,983 25,497 25,287 25,533 25,959 26,276 26,630 26,385 26,503 26,467 26,425 26,354 26,257 26,157 26,005 25,843 25,735 25,605 25,479 25,364 25,310 14,970 15,280 15,239 15,025 14,917 15,058 15,280 15,353 15,520 15,356 15,420 15,404 15,380 15,335 15,278 15,217 15,126 15,038 14,992 14,934 14,872 14,836 14,818 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 3,419 3,630 3,629 3,395 3,188 3,118 3,061 3,038 3,032 2,997 3,013 3,006 2,995 2,990 2,986 2,982 2,965 2,940 2,924 2,918 2,905 2,885 2,861 Financial activities 7,648 7,687 7,808 7,847 7,977 8,031 8,153 8,328 8,301 8,146 8,179 8,162 8,154 8,141 8,115 8,088 8,043 8,010 7,954 7,898 7,857 7,812 7,782 Profes- Educasional tion Leisure and and and busihospihealth ness tality services services 15,957 16,666 16,476 15,976 15,987 16,394 16,954 17,566 17,942 17,778 17,887 17,824 17,788 17,727 17,675 17,612 17,488 17,356 17,205 17,029 16,910 16,799 16,748 14,798 15,109 15,645 16,199 16,588 16,953 17,372 17,826 18,322 18,855 18,798 18,843 18,888 18,950 18,957 18,981 19,044 19,080 19,119 19,138 19,158 19,171 19,215 22:14 Jun 09, 2009 Jkt 050117 PO 00000 Frm 00014 Fmt 3401 Government Total 5,087 5,168 5,258 5,372 5,401 5,409 5,395 5,438 5,494 5,528 5,542 5,535 5,536 5,530 5,532 5,535 5,509 5,477 5,461 5,449 5,426 5,420 5,419 20,307 20,790 21,118 21,513 21,583 21,621 21,804 21,974 22,218 22,500 22,488 22,522 22,537 22,556 22,535 22,539 22,543 22,532 22,540 22,547 22,543 22,635 22,628 Federal 2,769 2,865 2,764 2,766 2,761 2,730 2,732 2,732 2,734 2,764 2,763 2,765 2,776 2,768 2,771 2,775 2,783 2,778 2,793 2,796 2,808 2,894 2,879 2 Includes natural resources and mining, not shown separately. 3 Includes wholesale trade, transportation and warehousing, and utilities, not shown separately. NOTE.—Data classified by industry based on the 2007 North American Industry Classification System (NAICS). For details see Employment and Earnings. Source: Department of Labor, Bureau of Labor Statistics. 14 VerDate Nov 24 2008 11,543 11,862 12,036 11,986 12,173 12,493 12,816 13,110 13,427 13,459 13,495 13,490 13,473 13,454 13,428 13,395 13,344 13,304 13,268 13,236 13,202 13,164 13,167 Other services Sfmt 3401 E:\HR\OC\ECOIND.014 ECOIND g:\graphics\eecoind.014 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 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2008: ................. ................ ................. ................. ................. ................. ................. ................. ................. ................. Apr ....... May ....... June ...... July ....... Aug ....... Sept ...... Oct ........ Nov ....... Dec ....... 2009: Jan ....... Feb ....... Mar r ...... Apr r ...... May p ..... 34.3 34.3 34.0 33.9 33.7 33.7 33.8 33.9 33.9 33.6 33.8 33.7 33.6 33.6 33.7 33.6 33.5 33.4 33.3 33.3 33.3 33.1 33.2 33.1 Total Overtime 41.4 41.3 40.3 40.5 40.4 40.8 40.7 41.1 41.2 40.8 41.0 40.9 40.9 41.0 40.8 40.5 40.4 40.2 39.9 39.8 39.5 39.4 39.5 39.3 Average gross weekly earnings Total private nonagricultural 1 4.9 4.7 4.0 4.2 4.2 4.6 4.6 4.4 4.2 3.7 4.0 3.9 3.8 3.7 3.7 3.5 3.5 3.2 2.9 2.9 2.7 2.6 2.7 2.7 Current dollars $13.49 14.02 14.54 14.97 15.37 15.69 16.13 16.76 17.43 18.08 17.94 17.99 18.04 18.10 18.18 18.21 18.28 18.34 18.40 18.43 18.46 18.50 18.52 18.54 Total private nonagricultural 1 Manufacturing 1982 dollars 2 $8.01 8.04 8.12 8.25 8.28 8.24 8.18 8.24 8.33 8.30 8.29 8.27 8.20 8.16 8.20 8.21 8.33 8.54 8.65 8.64 8.61 8.64 8.65 .............. $13.85 14.32 14.76 15.29 15.74 16.14 16.56 16.81 17.26 17.74 17.64 17.68 17.73 17.80 17.78 17.81 17.89 17.94 17.96 17.99 18.07 18.10 18.12 18.10 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). Current dollars Current dollars 1982 dollars 2 $463.15 481.01 493.79 506.75 518.06 529.09 544.33 567.87 590.04 607.99 606.37 606.26 606.14 608.16 612.67 611.86 612.38 612.56 612.72 613.72 614.72 612.35 614.86 613.67 $275.03 275.97 275.71 279.20 279.13 277.88 276.17 279.19 281.97 279.14 280.03 278.56 275.59 274.31 276.47 275.99 279.11 285.23 288.12 287.60 286.80 286.10 287.34 .............. Manufacturing $573.14 590.77 595.19 618.75 635.99 658.49 673.30 691.02 711.56 724.23 723.24 723.11 725.16 729.80 725.42 721.31 722.76 721.19 716.60 716.00 713.77 713.14 715.74 711.33 Percent change from a year earlier, total private nonagricultural Construction Retail trade $655.11 685.78 695.89 711.82 726.83 735.55 750.22 781.21 816.66 842.36 841.02 836.22 842.50 845.60 849.97 846.05 849.11 839.96 851.58 850.10 851.96 851.64 849.01 854.28 $321.63 333.38 346.16 360.81 367.15 371.13 377.58 383.02 385.11 386.39 387.77 387.39 386.10 386.40 387.60 388.59 385.41 385.31 384.32 385.21 386.21 385.21 386.80 388.10 Current dollars 3.3 3.9 2.7 2.6 2.2 2.1 2.9 4.3 3.9 3.0 3.8 3.1 2.6 2.9 3.5 3.0 2.9 2.6 2.4 2.5 2.0 1.2 1.4 1.2 1982 dollars 1.0 .3 ¥.1 1.3 ¥.0 ¥.4 ¥.6 1.1 1.0 ¥1.0 ¥.4 ¥1.1 ¥2.5 ¥2.9 ¥2.2 ¥2.3 ¥.9 2.0 3.1 3.2 2.5 2.2 2.6 ................ 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 1999: 2000: 2001: 2002: 2003: 2004: 2005: 2006: 2007: 2008: Dec Dec Dec Dec Dec Dec Dec Dec Dec Dec ................................................................. ................................................................. ................................................................. ................................................................. ................................................................. ................................................................. ................................................................. ................................................................. ................................................................. ................................................................. 80.2 83.6 87.3 90.0 93.6 97.2 100.0 103.2 106.3 108.9 83.5 86.7 89.9 92.2 95.1 97.6 100.0 103.2 106.6 109.4 72.6 76.7 81.3 84.7 90.2 96.2 100.0 103.1 105.6 107.7 ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ .................. .................. .................. .................. .................. .................. .................. .................. .................. .................. Seasonally adjusted hsrobinson on PROD1PC76 with HEARING 2006: Mar ................................................................. June ............................................................... Sept ................................................................ Dec ................................................................. 2007: Mar ................................................................. June ............................................................... Sept ................................................................ Dec ................................................................. 2008: Mar ................................................................. June ............................................................... Sept ................................................................ Dec ................................................................. 2009: Mar ................................................................. 100.8 101.6 102.5 103.3 104.0 104.8 105.6 106.5 107.2 107.9 108.6 109.1 109.3 100.8 101.6 102.5 103.3 104.3 105.0 105.9 106.7 107.6 108.4 109.1 109.6 109.8 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. 100.8 101.6 102.5 103.4 103.1 104.2 104.9 105.9 106.5 106.9 107.5 107.9 108.1 0.6 .8 .9 .8 .7 .8 .8 .9 .7 .7 .6 .5 .2 3.5 4.2 4.1 3.1 4.0 3.8 2.9 3.2 3.0 2.4 3.6 3.8 3.8 2.6 3.1 2.6 2.5 3.2 3.3 2.6 3.4 5.6 5.2 4.2 6.5 6.7 4.0 3.1 2.4 2.0 Not seasonally adjusted 0.7 .8 .9 .8 1.0 .7 .9 .8 .8 .7 .6 .5 .2 0.5 .8 .9 .9 ¥.3 1.1 .7 1.0 .6 .4 .6 .4 .2 2.6 2.8 3.0 3.2 3.2 3.1 3.1 3.0 3.2 3.0 2.8 2.4 1.9 2.4 2.8 3.0 3.2 3.6 3.3 3.4 3.3 3.2 3.1 2.9 2.6 2.0 3.0 2.7 2.8 3.1 2.2 2.6 2.4 2.4 3.2 2.6 2.4 2.0 1.6 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 Nov 24 2008 22:14 Jun 09, 2009 Jkt 050117 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 Nonfarm business sector Hours of all persons 2 Business sector Compensation per hour 3 Nonfarm business sector Business sector Nonfarm 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 1999 ........................ 2000 ........................ 2001 ........................ 2002 ........................ 2003 ........................ 2004 ........................ 2005 ........................ 2006 ........................ 2007 ........................ 2008 r ....................... 2005: I ................... II ................. III ................ IV ................ 2006: I ................... II ................. III ................ IV ................ 2007: I ................... II ................. III ................ IV ................ 2008: I ................... II ................. III ................ IV r ............... 2009: I r * ............... 112.8 116.1 119.1 123.9 128.7 132.4 134.8 136.1 138.2 141.9 134.2 134.2 135.6 135.2 135.9 136.5 136.0 135.9 135.7 137.5 140.0 139.6 140.4 142.0 142.8 142.6 143.0 112.5 115.7 118.6 123.5 128.0 131.6 133.9 135.1 137.0 140.9 133.2 133.4 134.7 134.2 134.8 135.6 135.1 134.9 134.7 136.3 138.7 138.5 139.4 141.0 141.7 141.5 142.1 135.2 140.5 141.0 143.1 147.5 153.7 159.1 163.9 167.3 168.6 157.1 158.4 160.2 160.6 162.8 164.0 164.1 164.8 164.5 166.8 169.0 168.8 169.1 170.2 169.4 165.7 162.6 135.6 140.8 141.3 143.4 147.8 153.9 159.2 164.2 167.5 168.8 157.3 158.4 160.3 160.8 163.2 164.3 164.4 165.0 164.7 167.0 169.2 168.9 169.3 170.5 169.7 165.8 162.6 119.8 121.0 118.4 115.4 114.6 116.1 118.0 120.5 121.1 118.8 117.1 118.0 118.1 118.8 119.8 120.1 120.7 121.3 121.3 121.3 120.8 120.9 120.4 119.9 118.6 116.2 113.5 120.5 121.7 119.2 116.1 115.4 116.9 118.9 121.5 122.2 119.8 118.1 118.8 119.0 119.8 121.0 121.1 121.7 122.3 122.2 122.5 122.0 122.0 121.5 120.9 119.7 117.1 114.4 125.8 134.7 140.3 145.3 151.2 157.0 163.2 169.4 176.5 182.8 161.0 161.6 164.1 165.8 167.8 168.1 169.0 172.6 174.3 175.4 177.4 178.9 180.5 181.3 183.9 185.8 187.8 125.2 134.2 139.5 144.6 150.4 156.0 162.1 168.3 175.2 181.7 159.9 160.8 163.2 164.7 166.5 167.0 168.0 171.7 173.4 174.0 175.8 177.8 179.4 180.2 182.7 184.7 186.8 108.1 112.0 113.5 115.7 117.7 119.0 119.7 120.3 121.9 121.6 119.9 119.5 119.6 119.6 120.4 119.6 119.2 122.1 122.1 121.6 122.3 121.6 121.3 120.6 120.4 124.4 126.5 107.6 111.6 112.8 115.1 117.1 118.2 118.9 119.5 121.0 120.8 119.0 118.9 118.9 118.7 119.5 118.9 118.5 121.4 121.5 120.6 121.2 120.8 120.6 119.8 119.7 123.7 125.8 111.5 116.0 117.9 117.3 117.5 118.5 121.0 124.5 127.7 128.8 120.0 120.4 121.0 122.6 123.5 123.1 124.3 127.0 128.5 127.5 126.7 128.2 128.6 127.7 128.8 130.3 131.2 111.3 116.0 117.7 117.1 117.5 118.5 121.1 124.5 127.9 129.0 120.0 120.5 121.1 122.7 123.5 123.1 124.3 127.2 128.7 127.6 126.8 128.4 128.7 127.8 128.9 130.5 131.5 110.7 112.7 114.9 116.1 117.8 120.8 124.6 128.3 131.4 133.8 123.2 123.8 125.0 126.3 127.2 128.0 128.8 129.4 130.7 131.2 131.6 132.2 132.9 133.2 134.6 134.6 135.3 111.1 113.3 115.4 116.7 118.3 121.1 125.1 129.1 131.7 134.2 123.7 124.3 125.6 126.9 127.9 128.8 129.5 130.0 131.1 131.5 131.8 132.5 133.2 133.5 135.0 135.2 136.2 1.8 4.2 1.4 ¥.5 .3 .9 2.2 2.8 2.7 .9 ¥.5 1.6 2.0 5.3 2.6 ¥1.1 3.9 9.6 4.8 ¥3.3 ¥2.5 5.0 1.1 ¥2.8 3.5 5.1 3.0 0.9 1.8 2.0 1.0 1.5 2.6 3.1 3.0 2.4 1.8 3.6 2.0 4.1 4.1 3.0 2.6 2.4 1.9 4.0 1.7 1.1 2.0 2.0 .9 4.2 .0 2.2 1.1 1.9 1.9 1.1 1.3 2.4 3.4 3.1 2.1 1.9 3.9 2.2 4.3 4.2 3.1 2.9 2.1 1.5 3.4 1.5 .9 2.1 2.1 .9 4.7 .6 2.8 Percent change; quarterly data at seasonally adjusted annual rates 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2005: 2006: 2007: 2008: 2009: ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ I ................... II ................. III ................ IV ................ I ................... II ................. III ................ IV ................ I ................... II ................. III ................ IV ................ I ................... II ................. III ................ IV r ............... I r* ................ 3.1 2.9 2.5 4.1 3.8 2.9 1.8 .9 1.6 2.7 2.3 .1 4.3 ¥1.2 2.0 2.0 ¥1.6 ¥.3 ¥.7 5.7 7.3 ¥1.1 2.2 4.7 2.3 ¥.5 1.8 2.9 2.8 2.5 4.1 3.7 2.8 1.7 .9 1.4 2.8 2.8 .7 3.9 ¥1.5 1.9 2.4 ¥1.6 ¥.4 ¥.6 4.8 7.0 ¥.5 2.6 4.7 2.2 ¥.6 1.6 5.1 3.9 .3 1.5 3.1 4.2 3.5 3.0 2.0 .8 3.7 3.2 4.8 1.0 5.6 2.9 .3 1.7 ¥.7 5.6 5.5 ¥.6 .7 2.6 ¥1.8 ¥8.5 ¥7.2 5.2 3.8 .4 1.5 3.1 4.1 3.4 3.2 2.0 .8 3.7 2.9 4.8 1.3 6.0 2.9 .3 1.4 ¥.9 5.8 5.5 ¥.7 .9 2.8 ¥1.9 ¥8.8 ¥7.6 2.0 1.0 ¥2.2 ¥2.5 ¥.7 1.2 1.7 2.1 .5 ¥1.9 1.3 3.1 .5 2.2 3.6 .9 2.0 2.0 .0 .0 ¥1.7 .5 ¥1.5 ¥1.9 ¥4.0 ¥8.0 ¥8.8 2.2 1.0 ¥2.0 ¥2.6 ¥.6 1.3 1.7 2.2 .5 ¥1.9 .9 2.2 .8 2.8 4.0 .4 1.9 1.9 ¥.2 .9 ¥1.5 ¥.2 ¥1.7 ¥1.7 ¥3.9 ¥8.3 ¥9.0 hsrobinson on PROD1PC76 with HEARING 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 1978–2008 is based on the consumer price index research series (CPI–U–RS). 5 Current dollar gross domestic output divided by the output index. 4.9 7.1 4.2 3.5 4.1 3.8 3.9 3.8 4.2 3.6 1.9 1.4 6.3 4.3 4.8 .7 2.3 8.8 4.0 2.4 4.6 3.7 3.5 1.9 5.7 4.2 4.5 4.7 7.2 4.0 3.6 4.0 3.7 4.0 3.8 4.1 3.7 2.3 2.3 6.0 3.8 4.5 1.3 2.3 9.1 4.2 1.3 4.4 4.4 3.7 1.7 5.7 4.5 4.6 2.8 3.6 1.4 1.9 1.8 1.1 .6 .5 1.3 ¥.2 ¥.1 ¥1.1 .4 ¥.2 2.7 ¥2.4 ¥1.5 10.0 .2 ¥1.7 2.2 ¥2.0 ¥1.1 ¥2.4 ¥.4 13.7 7.0 2.6 3.7 1.1 2.0 1.8 1.0 .6 .5 1.3 r ¥.2 .3 ¥.2 .1 ¥.7 2.5 ¥1.9 ¥1.5 10.3 .3 ¥2.8 2.0 ¥1.2 ¥.8 ¥2.7 ¥.4 14.0 7.1 1.8 4.1 1.6 ¥.5 .2 .9 2.1 2.9 2.6 .9 ¥.4 1.3 2.0 5.6 2.7 ¥1.2 4.0 9.2 4.7 ¥3.1 ¥2.5 4.8 1.2 ¥2.6 3.3 4.8 2.7 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 29, 2009. Source: Department of Labor, Bureau of Labor Statistics. 16 VerDate Nov 24 2008 22:14 Jun 09, 2009 Jkt 050117 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 and capacity utilization fell in April. [Monthly data seasonally adjusted] Percent hsrobinson on PROD1PC76 with HEARING Period 1999 ....................... 2000 ....................... 2001 ....................... 2002 ....................... 2003 ....................... 2004 ....................... 2005 ....................... 2006 ....................... 2007 ....................... 2008 r ...................... 2008: Apr ............. May ............ June ........... July ............ Aug ............. Sept ............ Oct .............. Nov r ............ Dec r ............ 2009: Jan r ............ Feb r ............ Mar r ............ Apr p ............ Index, 2002=100 99.5 103.7 100.1 100.0 101.3 103.8 107.2 109.7 111.3 108.8 111.0 110.7 110.4 110.4 109.2 104.8 106.2 104.8 102.4 100.3 99.3 97.6 97.1 From preceding month .............. .............. .............. .............. .............. .............. .............. .............. .............. .............. ¥.6 ¥.3 ¥.2 ¥.1 ¥1.1 ¥4.0 1.3 ¥1.3 ¥2.2 ¥2.1 ¥1.0 ¥1.7 ¥.5 Industry production indexes, 2002=100 change 2 From year earlier 4.3 4.2 ¥3.4 ¥.1 1.3 2.5 3.3 2.3 1.5 ¥2.2 .0 ¥.4 ¥.7 ¥1.0 ¥2.2 ¥6.4 ¥4.7 ¥6.5 ¥8.9 ¥10.7 ¥11.4 ¥12.6 ¥12.5 Capacity utilization rate (output as percent of capacity) 1 Manufacturing Total 1 Durable 99.9 104.4 100.1 100.0 101.3 104.3 108.5 111.2 112.7 109.1 111.7 111.5 111.0 110.8 109.7 105.7 106.0 103.6 100.7 98.0 97.9 95.8 95.5 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. Nondurable 97.8 105.2 100.4 100.0 102.7 107.0 112.8 117.8 120.2 116.3 119.3 118.9 119.0 119.0 117.2 113.7 110.8 108.2 105.4 100.1 99.0 96.5 96.1 101.7 102.2 98.9 100.0 100.1 102.0 104.8 105.7 106.7 103.6 105.8 105.9 104.9 104.5 104.1 99.3 102.7 100.3 97.1 96.8 97.8 96.4 96.3 Other (nonNAICS) 1 Mining 110.9 112.6 105.7 100.0 97.1 97.9 97.6 96.6 95.3 89.9 91.8 90.8 90.8 89.3 88.9 88.1 86.9 86.4 84.7 81.6 80.3 76.8 74.8 Utilities Total industry 101.6 104.2 104.8 100.0 100.2 99.6 98.3 101.5 102.1 104.2 104.9 104.9 104.8 106.9 106.4 96.4 103.5 105.4 103.4 102.9 101.6 99.0 95.8 94.7 97.4 97.0 100.0 101.9 103.3 105.4 104.8 108.3 108.6 109.7 108.2 109.4 107.9 104.3 105.7 107.1 109.1 111.3 111.5 103.8 105.7 106.2 81.9 81.7 76.1 74.6 75.8 77.9 80.1 80.9 80.6 77.6 79.2 78.9 78.7 78.6 77.6 74.5 75.4 74.4 72.8 71.3 70.6 69.4 69.1 Total manufacturing 80.7 80.1 73.8 72.7 73.7 76.2 78.6 79.4 79.0 75.1 77.0 76.7 76.3 76.1 75.3 72.5 72.7 71.1 69.1 67.2 67.2 65.8 65.7 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 Nov 24 2008 22:14 Jun 09, 2009 Jkt 050117 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 Materials Final products Nonindustrial supplies Consumer goods Equipment Durable goods Business equipment Period Total Total Nondurable goods Total 1 Defense and space equipment Total Construction supplies Business supplies Total 1 Energy 1999 ............................................................ 2000 ............................................................ 2001 ............................................................ 2002 ............................................................ 2003 ............................................................ 2004 ............................................................ 2005 ............................................................ 2006 ............................................................ 2007 ............................................................ 2008 r .......................................................... 99.6 102.8 100.8 100.0 101.3 103.4 107.6 110.3 111.9 109.7 97.1 99.1 98.1 100.0 101.4 102.7 105.4 105.8 106.8 104.0 96.0 99.0 94.7 100.0 103.4 104.9 105.4 104.3 104.7 94.4 97.6 99.2 99.4 100.0 100.6 101.8 105.3 106.2 107.4 106.9 106.0 111.9 107.7 100.0 101.0 105.5 113.5 122.5 125.8 125.4 106.4 114.7 108.0 100.0 100.0 105.3 112.6 123.2 126.4 125.0 102.2 91.3 100.0 100.0 106.7 104.7 115.8 113.4 117.6 120.6 101.2 105.2 100.7 100.0 101.1 103.3 107.1 108.7 108.9 104.6 102.7 105.0 100.1 100.0 99.7 102.0 106.6 109.0 106.9 100.2 100.6 105.2 101.0 100.0 101.7 103.8 107.3 108.5 109.9 106.7 98.7 104.0 99.1 100.0 101.3 104.5 107.0 109.5 111.7 109.6 99.9 101.5 100.3 100.0 100.0 99.6 98.4 100.0 101.8 103.6 2008: Apr .................................................. May ................................................. June ................................................ July ................................................. Aug .................................................. Sept ................................................. Oct .................................................. Nov r ................................................ Dec r ................................................. 111.1 110.8 110.9 110.6 109.0 106.3 107.0 106.7 106.2 105.0 104.7 104.8 104.5 102.7 101.4 103.0 102.0 100.6 96.0 96.0 97.1 97.8 92.2 91.5 89.5 86.4 82.6 107.7 107.3 107.1 106.6 105.9 104.3 107.0 106.7 106.0 128.0 128.0 128.1 127.4 126.6 119.9 117.6 119.5 121.7 128.4 128.4 128.2 127.4 126.2 117.7 114.8 117.6 121.0 120.8 120.2 121.9 120.2 120.8 118.9 120.4 120.0 119.9 106.9 106.3 105.7 105.7 104.9 102.6 102.2 99.8 96.6 102.1 102.2 101.7 102.4 101.2 99.1 97.8 93.6 89.3 109.1 108.3 107.6 107.3 106.6 104.3 104.3 102.8 100.1 112.4 112.1 111.7 111.9 110.9 104.3 106.9 104.7 101.0 104.6 104.6 104.0 105.2 104.0 96.2 102.3 104.3 104.2 2009: Jan r ................................................. Feb r ................................................. Mar r ................................................ Apr p ................................................ 103.5 102.7 101.6 101.3 98.6 98.4 98.1 98.1 74.8 76.2 75.8 76.4 105.8 105.1 104.9 104.6 117.2 114.3 110.8 109.8 116.3 114.5 111.2 110.6 120.5 118.6 119.2 119.2 94.9 92.7 91.0 90.4 86.1 85.0 82.6 81.7 99.1 96.4 95.0 94.6 99.2 98.5 96.2 95.5 103.6 101.5 101.3 99.8 1 Includes other items, not shown separately. [2002=100; monthly data seasonally adjusted] Durable manufactures Primary metals Period Total 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 1999 ............................................................ 2000 ............................................................ 2001 ............................................................ 2002 ............................................................ 2003 ............................................................ 2004 ............................................................ 2005 ............................................................ 2006 ............................................................ 2007 ............................................................ 2008 r .......................................................... 115.1 111.4 99.5 100.0 99.1 110.0 108.0 112.6 110.0 102.4 111.9 110.8 96.8 100.0 101.2 118.2 110.1 119.3 115.8 105.2 106.4 110.7 102.6 100.0 98.7 98.9 103.4 109.0 112.1 110.1 112.0 117.7 104.2 100.0 99.7 103.7 110.2 115.5 116.4 109.4 77.2 101.4 103.3 100.0 114.3 129.9 144.5 163.8 176.7 192.9 70.0 98.3 101.3 100.0 120.5 137.9 158.8 189.1 213.7 238.0 104.6 99.7 96.2 100.0 101.0 100.7 104.5 104.2 106.1 96.1 100.5 99.9 91.4 100.0 103.5 103.7 103.9 100.2 97.4 83.3 155.6 148.0 126.9 100.0 92.8 79.8 76.9 75.3 76.5 72.6 112.4 113.1 106.3 100.0 96.2 96.9 99.2 99.8 100.6 93.9 93.6 95.0 93.4 100.0 101.3 105.6 109.3 112.7 114.1 108.8 96.0 97.7 97.7 100.0 101.0 101.1 104.2 105.4 109.5 111.2 2008: Apr .................................................. May ................................................. June ................................................ July ................................................. Aug .................................................. Sept ................................................. Oct .................................................. Nov r ................................................ Dec r ................................................. 109.7 107.8 107.9 110.1 108.6 102.0 93.2 81.4 72.0 118.0 114.5 114.3 118.9 116.9 104.9 88.5 68.3 53.3 112.6 112.1 110.5 109.8 110.2 109.2 107.3 106.0 102.4 111.2 110.9 110.6 109.2 110.2 107.3 106.1 104.0 99.8 199.2 199.4 199.0 198.0 196.6 194.2 188.4 180.7 176.3 251.2 250.3 248.4 246.6 243.6 240.0 228.4 214.3 205.2 98.2 97.9 100.1 100.9 94.6 88.2 85.1 86.5 88.4 83.9 83.9 86.4 88.7 79.2 79.9 76.9 74.2 69.2 73.1 71.5 72.5 73.7 74.2 72.8 71.4 69.6 67.8 96.9 96.4 93.4 91.9 93.0 92.3 91.9 90.6 87.4 112.2 112.1 111.0 110.6 109.7 101.0 106.7 103.2 98.9 112.2 111.5 111.2 110.5 110.7 110.4 111.8 111.7 108.7 2009: Jan r ................................................. Feb r ................................................. Mar r ................................................ Apr p ................................................ 67.7 65.1 62.0 61.2 48.3 49.0 45.7 44.9 98.3 95.8 91.5 89.6 96.2 94.2 88.6 87.9 175.3 172.5 169.8 169.4 204.9 200.9 197.0 195.5 75.9 78.2 78.3 78.3 51.6 56.0 56.2 56.9 65.6 64.6 64.8 63.7 85.4 82.7 81.5 79.5 100.5 102.0 100.8 100.7 108.4 109.5 109.1 109.3 1 Computers and peripheral equipment, communications equipment, and semiconductors and related electronic components. hsrobinson on PROD1PC76 with HEARING Nondurable manufactures Computer and electronic products Source: Board of Governors of the Federal Reserve System. 18 VerDate Nov 24 2008 22:14 Jun 09, 2009 Jkt 050117 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 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 Total new construction expenditures Residential Total New housing Total 1 Federal and State and local Nonresidential Total Lodging Commercial (including farm) Office Manufacturing Other 2 .................................... .................................... .................................... .................................... .................................... .................................... .................................... .................................... .................................... .................................... 744.6 802.8 840.2 847.9 891.5 991.6 1,102.7 1,167.6 1,137.2 1,074.1 575.5 621.4 638.3 634.4 675.4 771.4 868.5 912.2 850.0 766.6 326.3 346.1 364.4 396.7 446.0 532.9 611.9 613.7 492.5 355.9 251.3 265.0 279.4 298.8 345.7 417.5 480.8 468.8 353.4 230.2 249.2 275.3 273.9 237.7 229.3 238.5 256.6 298.4 357.5 410.7 16.0 16.3 14.5 10.5 9.9 12.0 12.7 17.6 27.5 36.2 45.1 52.4 49.7 35.3 30.6 32.9 37.3 45.7 53.4 57.5 59.4 64.1 63.6 59.0 57.5 63.2 66.6 73.4 85.0 81.9 35.1 37.6 37.8 22.7 21.4 23.7 29.9 35.1 42.2 63.2 93.7 104.9 108.2 110.2 109.9 106.8 110.2 126.7 149.4 171.9 169.1 181.3 201.9 213.4 216.1 220.2 234.2 255.4 287.1 307.5 2008: Apr ........................... May ......................... June ........................ July ......................... Aug .......................... Sept ......................... Oct ........................... Nov .......................... Dec .......................... 1,085.2 1,088.3 1,086.6 1,060.0 1,085.7 1,089.4 1,082.3 1,044.6 1,012.0 783.7 784.1 780.4 751.5 769.1 777.0 766.9 728.0 705.3 383.5 371.4 356.4 334.5 352.9 350.2 343.8 314.1 298.4 247.9 243.9 237.0 232.2 221.6 214.1 205.7 193.7 178.8 400.2 412.8 424.0 417.0 416.1 426.9 423.1 413.9 406.9 35.9 37.8 38.9 38.2 39.5 38.6 37.8 36.9 33.5 57.7 57.8 57.4 58.1 58.2 59.7 58.2 56.3 52.0 87.5 85.6 84.8 82.9 81.6 78.4 77.8 74.5 71.6 52.0 63.3 72.4 66.1 65.3 71.6 74.0 70.4 72.6 167.2 168.2 170.5 171.7 171.5 178.6 175.3 175.7 177.3 301.5 304.1 306.2 308.5 316.7 312.4 315.4 316.6 306.7 2009: Jan .......................... Feb r ......................... Mar r ........................ Apr p ......................... 977.2 957.1 961.3 968.7 675.7 647.1 648.2 657.3 286.4 256.6 247.4 249.2 165.1 150.1 140.1 132.3 389.3 390.5 400.8 408.2 30.5 30.7 32.0 32.8 49.1 48.5 48.4 47.4 68.2 66.5 66.6 65.2 76.2 81.4 85.6 89.0 165.4 163.4 168.1 173.7 301.5 310.0 313.2 311.4 1 Includes residential improvements, not shown separately. 2 Includes health care, educational, communication, and power, among other categories not shown separately. 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 Period Total 1999 ...................................... 2000 ...................................... 2001 ...................................... 2002 ...................................... 2003 ...................................... 2004 ...................................... 2005 ...................................... 2006 ...................................... 2007 ...................................... 2008 r ..................................... New private houses Units started, by type of structure 1,640.9 1,568.7 1,602.7 1,704.9 1,847.7 1,955.8 2,068.3 1,800.9 1,355.0 905.5 2–4 units 1 1 unit 1,302.4 1,230.9 1,273.3 1,358.6 1,499.0 1,610.5 1,715.8 1,465.4 1,046.0 622.0 5 units or more 31.9 38.7 36.6 38.5 33.5 42.3 41.1 42.7 31.7 17.5 306.6 299.1 292.8 307.9 315.2 303.0 311.4 292.8 277.3 266.0 Units authorized 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 1,398.4 905.4 Units completed Houses sold Houses for sale at end of period 2 Vacancy rate for rental housing units (percent) 3 1,604.9 1,573.7 1,570.8 1,648.4 1,678.7 1,841.9 1,931.4 1,979.4 1,502.8 1,119.7 880 877 908 973 1,086 1,203 1,283 1,051 776 485 308 298 308 339 370 422 511 536 r 497 350 8.1 8.0 8.4 8.9 9.8 10.2 9.8 9.7 9.8 10.0 Seasonally adjusted annual rates 2008: Apr r ........................... May r .......................... June r ......................... July r .......................... Aug r ........................... Sept r .......................... Oct r ........................... Nov r ........................... Dec r ........................... 2009: Jan r Feb r Mar r Apr p ........................... ........................... .......................... ........................... 1,001 971 1,078 933 849 822 763 655 556 676 679 655 632 612 549 534 457 393 15 19 22 14 15 19 10 18 9 310 273 401 287 222 254 219 180 154 991 978 1,174 924 857 806 729 630 564 1,028 1,139 1,131 1,089 1,018 1,148 1,055 1,084 1,028 533 509 488 500 444 436 409 390 374 460 453 436 419 412 395 380 370 350 ...................... ...................... 10.0 ...................... ...................... 9.9 ...................... ...................... 10.1 488 574 525 458 357 357 358 368 13 13 32 12 118 204 135 78 531 550 511 498 778 828 833 874 329 362 351 352 340 327 310 297 ...................... ...................... 10.1 ...................... 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 hsrobinson on PROD1PC76 with HEARING 3 Revised 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. Seasonally adjusted data beginning 2007 for housing units authorized, started, and completed and for houses sold and for sale reflect annual revisions. Source: Department of Commerce, Bureau of the Census. 19 VerDate Nov 24 2008 22:14 Jun 09, 2009 Jkt 050117 PO 00000 Frm 00019 Fmt 3401 Sfmt 3401 E:\HR\OC\ECOIND.019 ECOIND BUSINESS SALES AND INVENTORIES—Manufacturing and Trade In March, according to current estimates, manufacturing and trade sales fell 1.8 percent and inventories fell $16.5 billion. According to advance estimates, retail sales fell 0.4 percent in April. Retail and food services sales also fell 0.4 percent. [Millions of dollars, except ratios; seasonally adjusted, except as noted] Manufacturing and trade 1 Sales 2 Inventories 3 .............................................................. .............................................................. .............................................................. .............................................................. .............................................................. .............................................................. .............................................................. .............................................................. .............................................................. .............................................................. 786,634 834,325 818,615 823,714 853,596 923,319 1,000,368 1,064,187 1,102,196 1,136,984 1,138,982 1,198,022 1,120,815 1,141,313 1,148,318 1,240,052 1,307,060 1,391,292 1,447,020 1,455,972 2008: Mar r ................................................... Apr r ................................................... May .................................................... June ................................................... July ................................................... Aug .................................................... Sept ................................................... Oct ..................................................... Nov .................................................... Dec .................................................... 1,151,711 1,166,540 1,172,815 1,190,808 1,191,224 1,166,129 1,138,586 1,095,637 1,036,285 1,000,601 1,474,598 1,479,833 1,482,804 1,491,608 1,505,418 1,507,136 1,500,862 1,492,123 1,477,561 1,455,972 hsrobinson on PROD1PC76 with HEARING 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 Inventorysales ratio 4 Sales 2 Inventories 3 1.40 1.41 1.43 1.36 1.34 1.30 1.27 1.28 1.28 1.31 216,597 234,546 232,096 236,294 246,857 274,710 297,915 323,396 345,871 375,059 290,318 309,462 297,927 301,891 307,642 337,983 362,451 392,291 416,632 429,572 1.28 1.27 1.26 1.25 1.26 1.29 1.32 1.36 1.43 1.46 379,712 382,513 387,371 396,165 392,898 386,401 378,625 362,539 337,615 325,672 426,601 431,059 433,432 436,648 441,145 443,937 442,528 438,249 434,986 429,572 Retail Inventory sales ratio 4 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 1.30 1.29 1.32 1.26 1.23 1.18 1.18 1.17 1.16 1.17 234,046 249,063 255,644 261,194 272,123 289,528 307,280 322,461 332,902 329,996 385,039 406,887 394,775 416,289 432,372 461,372 471,749 487,514 499,724 484,414 1.59 1.59 1.58 1.55 1.56 1.56 1.51 1.50 1.49 1.52 257,797 274,518 282,131 288,845 301,264 320,526 340,057 357,284 369,385 367,741 1.12 1.13 1.12 1.10 1.12 1.15 1.17 1.21 1.29 1.32 337,621 337,996 338,033 338,770 335,947 334,273 328,469 317,198 309,742 298,949 502,206 503,141 500,547 499,333 505,203 500,418 500,038 498,884 490,322 484,414 1.49 1.49 1.48 1.47 1.50 1.50 1.52 1.57 1.58 1.62 374,845 375,614 375,860 376,663 373,898 372,192 366,555 355,037 347,707 336,438 303,921 476,498 1.57 304,889 470,939 1.54 r 300,837 467,566 1.55 299,516 ................ ................ 342,017 343,438 r 338,930 337,677 4 Annual data are averages of seasonally adjusted monthly ratios. Source: Department of Commerce, Bureau of the Census. 20 VerDate Nov 24 2008 22:14 Jun 09, 2009 Jkt 050117 PO 00000 Frm 00020 Fmt 3401 Retail and food services sales 2 Inventories 3 2009: Jan .................................................... 998,018 1,438,263 1.46 317,731 425,915 1.34 Feb r ................................................... 987,859 1,418,398 1.44 318,491 418,539 1.31 r 969,853 Mar p .................................................. 1,401,931 1.45 310,943 411,703 1.32 Apr p ................................................... .................. .................. ................ ................ ................ ................ 1 See Inventory sales ratio 4 Sales 2 Sfmt 3401 E:\HR\OC\ECOIND.020 ECOIND G:\graphics\eecoind.020 Period Wholesale MANUFACTURERS’ SHIPMENTS, INVENTORIES, AND ORDERS In April, manufacturers’ shipments, inventories, and unfilled orders fell; while new orders rose. 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 335,991 350,715 330,875 326,227 334,616 359,081 395,173 418,330 423,423 431,929 446,031 447,411 455,873 462,379 445,455 431,492 415,900 388,928 375,980 366,366 364,479 358,073 357,270 193,895 197,807 181,201 176,968 178,549 188,722 202,070 213,408 213,572 207,801 213,591 211,049 212,947 217,549 208,339 208,240 201,119 192,772 189,910 179,433 177,831 174,417 173,771 142,096 152,908 149,674 149,259 156,067 170,359 193,103 204,923 209,851 224,128 232,440 236,362 242,926 244,830 237,116 223,252 214,781 196,156 186,070 186,933 186,648 183,656 183,499 463,625 481,673 428,113 423,133 408,304 440,697 472,860 511,487 530,664 541,986 545,633 548,825 555,627 559,070 562,781 558,296 554,990 552,253 541,986 535,850 528,920 522,662 517,590 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. 296,553 306,727 267,829 260,582 246,963 265,070 283,598 309,914 320,757 343,468 328,911 330,426 333,127 336,185 339,033 339,728 341,168 342,259 343,468 339,735 335,164 329,460 326,482 167,072 174,946 160,284 162,551 161,341 175,627 189,262 201,573 209,907 198,518 216,722 218,399 222,500 222,885 223,748 218,568 213,822 209,994 198,518 196,115 193,756 193,202 191,108 329,770 346,789 322,746 316,809 330,369 354,619 395,401 419,793 427,597 429,343 445,915 450,033 459,576 462,993 443,200 429,286 403,315 377,203 358,811 346,120 348,460 341,935 344,440 187,674 193,881 173,072 167,550 174,302 184,261 202,298 214,871 217,746 205,216 213,475 213,671 216,650 218,163 206,084 206,034 188,534 181,047 172,741 159,187 161,812 158,279 160,941 64,392 69,278 58,246 51,817 52,894 56,094 65,770 71,725 74,288 69,132 73,609 73,639 71,958 74,498 68,694 67,923 63,487 60,140 53,964 48,637 50,931 50,424 49,004 505,498 549,445 514,349 462,122 477,608 496,343 572,835 660,406 773,297 800,360 802,972 810,293 818,023 824,232 826,529 828,225 820,672 812,879 800,360 783,955 770,939 757,692 748,743 1.35 1.35 1.38 1.28 1.24 1.19 1.17 1.19 1.23 1.28 1.22 1.23 1.22 1.21 1.26 1.29 1.33 1.42 1.44 1.46 1.45 1.46 1.45 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 Nov 24 2008 22:14 Jun 09, 2009 Jkt 050117 PO 00000 Frm 00021 Fmt 3401 Sfmt 3401 E:\HR\OC\ECOIND.021 ECOIND g:\graphics\eecoind.021 hsrobinson on PROD1PC76 with HEARING 1999 .................................................... 2000 .................................................... 2001 .................................................... 2002 .................................................... 2003 .................................................... 2004 .................................................... 2005 .................................................... 2006 .................................................... 2007 ..................................................... 2008 ..................................................... 2008: Apr ........................................... May .......................................... June ......................................... July .......................................... Aug .......................................... Sept .......................................... Oct ........................................... Nov .......................................... Dec ........................................... 2009: Jan ........................................... Feb ........................................... Mar r ......................................... Apr p ......................................... PRICES PRODUCER PRICES The producer price index for all finished goods rose 0.3 percent in April. Prices of finished consumer foods rose 1.5 percent, while prices of other finished consumer goods rose 0.1 percent. Capital equipment prices fell 0.1 percent. [1982=100; monthly data seasonally adjusted] Finished goods Finished goods excluding consumer foods Total finished goods Consumer foods Total 133.0 138.0 140.7 138.9 143.3 148.5 155.7 160.4 166.6 177.1 176.0 178.6 181.0 183.4 182.5 182.3 177.6 172.8 169.7 171.1 171.3 169.3 169.8 135.1 137.2 141.3 140.1 145.9 152.7 155.7 156.7 167.0 178.3 176.3 177.6 179.8 180.8 181.2 181.2 181.3 180.4 178.2 178.3 175.5 174.3 176.9 132.3 138.1 140.4 138.3 142.4 147.2 155.5 161.0 166.2 176.6 175.6 178.6 181.0 183.8 182.5 182.3 176.2 170.4 167.1 168.8 169.6 167.4 167.5 Consumer goods hsrobinson on PROD1PC76 with HEARING Total 1999 .......................... 2000 ........................... 2001 ........................... 2002 .......................... 2003 .......................... 2004 .......................... 2005 .......................... 2006 .......................... 2007 .......................... 2008 r ......................... 2008: Apr ................ May ............... June .............. July ............... Aug ................ Sept ............... Oct ................. Nov ................ Dec r ............... 2009: Jan ................ Feb ................. Mar ................ Apr ................. 1 Intermediate 130.5 138.4 141.4 138.8 144.7 150.9 161.9 169.2 175.6 189.1 188.1 192.4 195.9 199.7 197.3 196.8 187.2 178.4 173.0 175.5 176.7 173.6 173.8 Durable Nondurable 133.0 133.9 134.0 133.0 133.1 135.0 136.6 136.9 138.3 141.2 140.6 140.7 140.8 141.1 141.8 142.3 143.3 143.0 143.6 143.7 144.0 144.0 144.4 materials for food manufacturing and feeds. Capital equipment 127.9 138.7 142.8 139.8 148.4 156.6 172.0 182.6 191.7 210.5 208.8 215.2 220.6 226.0 222.1 221.1 205.9 192.8 184.3 188.1 189.6 185.0 185.0 137.6 138.8 139.7 139.1 139.5 141.4 144.6 146.9 149.5 153.8 152.6 153.0 153.4 154.2 154.8 155.4 156.3 156.3 156.9 157.2 157.3 157.0 156.9 Total finished consumer goods Total Foods and feeds 1 Other Total Foodstuffs and feedstuffs Other 132.0 138.2 141.5 139.4 145.3 151.7 160.4 166.0 173.5 186.3 185.1 188.5 191.7 194.6 193.1 192.7 185.9 179.4 174.9 176.8 177.0 174.4 175.1 123.2 129.2 129.7 127.8 133.7 142.6 154.0 164.0 170.7 188.3 186.9 191.6 195.5 200.9 198.3 197.1 188.9 179.9 172.6 172.5 170.9 168.4 167.5 111.1 111.7 115.9 115.5 125.9 137.1 133.8 135.2 154.4 181.6 180.5 184.0 186.1 194.8 193.6 189.6 180.0 175.3 168.7 167.3 164.9 164.0 164.5 123.9 130.1 130.5 128.5 134.2 143.0 155.1 165.4 171.5 188.7 187.3 192.1 196.1 201.4 198.6 197.6 189.4 180.2 172.9 173.0 171.4 168.8 167.7 98.2 120.6 121.0 108.1 135.3 159.0 182.2 184.8 207.1 251.8 274.4 290.8 298.6 310.3 273.0 253.1 212.3 184.5 174.2 168.2 160.6 160.1 164.9 98.7 100.2 106.1 99.5 113.5 127.0 122.7 119.3 146.7 163.4 169.4 170.3 174.0 174.1 167.8 165.6 148.2 146.2 138.0 139.8 134.3 131.8 137.8 94.3 130.4 126.8 111.4 148.2 179.2 223.4 230.6 246.3 313.9 351.6 381.8 392.8 415.0 350.4 314.8 254.7 203.9 192.5 179.6 170.6 172.1 175.2 Source: Department of Labor, Bureau of Labor Statistics. 22 VerDate Nov 24 2008 22:14 Jun 09, 2009 Jkt 050117 PO 00000 Crude materials Frm 00022 Fmt 3401 Sfmt 3401 E:\HR\OC\ECOIND.022 ECOIND G:\GRAPHICS\eecoind.022 Period Intermediate materials CONSUMER PRICES—ALL URBAN CONSUMERS In April, the consumer price index for all urban consumers was about unchanged seasonally adjusted; it rose 0.2 percent not seasonally adjusted. The index was 0.7 percent below its year-earlier level. [1982–84=100, except as noted; monthly data seasonally adjusted, except as noted] Housing Transportation Shelter Seasonally adjusted Rel. imp.3 ............... 1999 ....................... 2000 ....................... 2001 ....................... 2002 ....................... 2003 ....................... 2004 ....................... 2005 ....................... 2006 ....................... 2007 ....................... 2008 ....................... 100.0 166.6 172.2 177.1 179.9 184.0 188.9 195.3 201.6 207.342 215.303 .............. 14.6 43.4 33.2 6.0 .............. 164.1 163.9 187.3 177.5 .............. 167.8 169.6 193.4 183.9 .............. 173.1 176.4 200.6 192.1 .............. 176.2 180.3 208.1 199.7 .............. 180.0 184.8 213.1 205.5 .............. 186.2 189.5 218.8 211.0 .............. 190.7 195.7 224.4 217.3 .............. 195.2 203.2 232.1 225.1 .............. 202.916 209.586 240.611 234.679 .............. 214.106 216.264 246.666 243.271 24.4 5.4 3.7 15.3 3.2 6.4 192.9 128.8 131.3 144.4 100.7 250.6 198.7 137.9 129.6 153.3 129.3 260.8 206.3 150.2 127.3 154.3 124.7 272.8 214.7 143.6 124.0 152.9 116.6 285.6 219.9 154.5 120.9 157.6 135.8 297.1 224.9 161.9 120.4 163.1 160.4 310.1 230.2 179.0 119.5 173.9 195.7 323.2 238.2 194.7 119.5 180.9 221.0 336.2 246.235 200.632 118.998 184.682 239.070 351.054 252.426 220.018 118.907 195.549 279.652 364.065 7.6 77.7 106.6 177.0 124.6 181.3 129.3 186.1 121.7 190.5 136.5 193.2 151.4 196.6 177.1 200.9 196.9 205.9 207.723 210.729 236.666 215.572 2008: Apr ............ May ............ June ........... July ........... Aug ............ Sept ........... Oct ............. Nov ............ Dec ............ 214.823 216.632 218.815 219.964 219.086 218.783 216.573 212.425 210.228 213.997 215.044 217.034 218.610 218.576 218.675 216.889 213.263 211.577 211.199 211.969 213.370 215.376 216.599 217.748 218.586 218.988 219.082 214.883 215.844 216.811 218.015 218.004 217.818 217.788 217.622 217.592 245.443 245.948 246.653 247.052 247.327 247.899 248.063 248.455 248.519 241.491 241.964 242.915 243.659 244.414 245.089 245.836 246.480 246.928 251.422 251.702 252.325 252.701 253.079 253.538 253.911 254.522 254.683 216.551 221.132 224.991 231.806 229.802 224.296 223.185 219.934 219.092 118.466 118.364 118.384 119.531 119.984 119.631 118.802 118.905 118.221 195.691 197.903 204.195 207.057 205.196 204.916 195.027 176.111 167.353 281.176 289.288 314.506 325.755 317.702 318.765 278.245 197.861 160.675 362.300 362.793 363.723 364.072 364.847 365.835 366.402 367.299 368.302 235.774 242.134 256.230 265.314 260.104 257.426 237.300 197.086 178.835 214.496 214.950 215.575 216.162 216.534 216.784 216.758 216.868 216.882 2009: Jan Feb Mar Apr 211.143 212.193 212.709 213.240 212.174 213.007 212.714 212.671 219.193 218.970 218.651 218.254 217.646 217.621 217.335 217.180 248.938 248.881 248.899 249.334 247.744 248.087 248.490 248.916 255.349 255.687 256.257 256.627 217.515 217.260 214.254 210.702 118.523 120.039 119.744 119.537 169.489 172.759 170.903 170.259 169.176 182.030 173.947 169.373 369.914 371.175 371.902 373.257 181.938 187.901 182.254 177.924 217.265 217.670 218.042 218.594 Period hsrobinson on PROD1PC76 with HEARING All items less food and energy Not seasonally adjusted (NSA) ............. ............ ............ ............ Food Rent of primary residence Total 1 Total 1 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 Owners’ equivalent rent (12/82= 100) Fuels and utilities Apparel Total 1 Motor fuel Medical care Energy 2 3 Relative importance, December 2008. Source: Department of Labor, Bureau of Labor Statistics. 23 VerDate Nov 24 2008 22:14 Jun 09, 2009 Jkt 050117 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 Change from 6 months earlier, annual rate Consumer goods Consumer goods Consumer goods Total finished goods Foods Capital equipment Excluding foods Total finished goods Foods Excluding foods Capital equipment Total finished goods Foods Excluding foods Capital equipment 0.3 1.2 0 ¥.6 .8 2.4 1.2 2.3 1.4 4.3 ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ Change from year earlier, total finished goods NSA Change, Dec. to Dec., NSA 1999 ................. 2000 ................. 2001 ................. 2002 ................. 2003 ................. 2004 ................. 2005 ................. 2006 ................. 2007 ................. 2008 r ............... 2.9 3.6 ¥1.6 1.2 4.0 4.2 5.4 1.1 6.2 ¥.9 0.8 1.7 1.8 ¥.6 7.7 3.1 1.7 1.7 7.6 3.2 5.1 5.5 ¥3.9 2.9 4.1 5.5 8.8 .4 7.7 ¥4.8 1.8 3.8 2.0 ¥1.3 3.2 3.6 4.8 3.0 3.9 6.3 Change, month to month 2008: Apr ....... May ...... June ..... July ...... Aug ....... Sept ...... Oct ........ Nov ....... Dec r ...... 0.2 1.5 1.3 1.3 ¥.5 ¥.1 ¥2.6 ¥2.7 ¥1.8 0.2 .7 1.2 .6 .2 .0 .1 ¥.5 ¥1.2 0.1 2.3 1.8 1.9 ¥1.2 ¥.3 ¥4.9 ¥4.7 ¥3.0 0.5 .3 .3 .5 .4 .4 .6 .0 .4 6.1 10.7 12.9 17.9 9.0 2.9 ¥12.1 ¥19.6 ¥24.9 3.5 8.8 8.9 10.6 8.4 3.2 1.1 ¥1.8 ¥6.5 8.3 14.5 18.1 27.0 10.6 1.9 ¥22.8 ¥33.2 ¥40.3 4.0 3.5 4.3 4.3 4.8 5.3 5.6 3.9 3.9 9.0 7.1 11.0 11.9 9.9 7.8 1.8 ¥6.4 ¥12.1 7.4 9.1 8.9 7.0 8.6 6.0 5.8 3.2 ¥1.8 11.8 8.0 14.7 17.3 12.5 9.7 ¥1.0 ¥14.0 ¥22.0 3.6 3.3 4.0 4.1 4.1 4.8 4.9 4.4 4.6 6.4 7.3 9.1 9.9 9.7 8.8 5.2 .4 ¥.9 2009: Jan ........ Feb ....... Mar ....... Apr ....... .8 .1 ¥1.2 .3 r.1 ¥1.6 ¥.7 1.5 1.4 .7 ¥1.8 .1 r.2 ¥13.9 ¥3.4 ¥.9 ¥3.0 ¥6.5 ¥10.4 r¥8.5 ¥3.1 ¥22.8 ¥3.8 1.4 ¥3.8 2.3 2.6 r.3 ¥.8 ¥13.0 ¥11.9 ¥13.8 ¥8.6 ¥2.7 ¥6.2 ¥7.5 ¥4.8 ¥22.8 ¥19.8 ¥22.2 ¥13.8 3.9 3.3 2.1 .8 ¥1.0 ¥1.3 ¥3.5 ¥3.7 .1 ¥.2 ¥.1 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 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... 2.7 3.4 1.6 2.4 1.9 3.3 3.4 2.5 4.1 .1 1.9 2.8 2.8 1.5 3.6 2.7 2.3 2.1 4.9 5.9 2.2 4.3 2.9 2.4 2.2 3.0 4.0 3.3 3.0 2.4 2.5 3.4 4.2 3.1 2.2 2.7 2.6 4.2 3.1 1.9 3.1 4.0 4.7 3.1 2.7 2.9 3.1 4.3 4.0 3.4 2.4 3.4 4.5 3.3 2.0 2.3 2.5 4.3 2.8 2.1 2.4 12.1 ¥2.1 1.4 6.5 7.9 15.6 .5 5.4 6.0 ¥.5 5.4 ¥1.8 4.1 ¥3.2 ¥3.8 ¥1.8 3.8 ¥2.1 .3 ¥.2 6.5 ¥1.1 4.8 .9 1.6 ¥.3 8.3 ¥1.0 ¥13.3 ¥.8 .3 0 ¥2.0 ¥2.1 .5 .8 .2 ¥.4 ¥1.1 30.2 13.9 ¥24.8 24.6 6.8 26.1 16.2 6.4 29.5 ¥42.2 3.7 4.2 4.7 5.0 3.7 4.2 4.3 3.6 5.2 2.6 13.4 14.2 ¥13.0 10.7 6.9 16.6 17.1 2.9 17.4 ¥21.3 1.9 2.6 2.7 1.9 1.1 2.2 2.2 2.6 2.4 1.8 .......... .......... .......... .......... .......... .......... .......... .......... .......... .......... .......... .......... .......... .......... .......... .......... .......... .......... .......... .......... .......... .......... .......... .......... .......... .......... .......... .......... .......... .......... 2.2 3.4 2.8 1.6 2.3 2.7 3.4 3.2 2.8 3.8 0.1 .2 .3 .3 .2 .1 .0 .1 .0 .......... 2.9 .......... 4.2 4.5 6.5 .......... 8.9 .......... 6.7 6.2 3.1 .......... ¥3.1 .......... ¥9.4 ¥8.3 ¥12.4 4.7 3.7 5.1 5.8 5.4 4.7 2.7 ¥1.6 ¥5.0 3.9 4.2 5.0 5.6 5.4 3.7 3.7 1.1 .1 ¥8.4 ¥.5 2.2 .9 ¥5.8 ¥5.0 ¥5.4 ¥3.9 .0 .2 ¥.4 ¥.7 Change, month to month 2008: Apr ............... May ............... June .............. July .............. Aug ............... Sept .............. Oct ................ Nov ............... Dec ............... hsrobinson on PROD1PC76 with HEARING 2009: Jan Feb Mar Apr ............... ............... ............... ............... 0.2 .5 .9 .7 .0 .0 ¥.8 ¥1.7 ¥.8 0.8 .4 .7 .9 .6 .5 .4 .2 .0 0.3 .4 .4 .6 .0 ¥.1 .0 ¥.1 .0 0.1 .2 .3 .2 .1 .2 .1 .2 .0 0.3 .2 .4 .3 .3 .3 .3 .3 .2 0.2 .1 .2 .1 .1 .2 .1 .2 .1 1.8 2.1 1.7 3.0 ¥.9 ¥2.4 ¥.5 ¥1.5 ¥.4 0.3 ¥.1 .0 1.0 .4 ¥.3 ¥.7 .1 ¥.6 ¥0.8 1.1 3.2 1.4 ¥.9 ¥.1 ¥4.8 ¥9.7 ¥5.0 0.0 .1 .3 .8 .1 ¥.5 ¥.6 ¥.4 ¥.4 ¥2.3 2.9 8.7 3.6 ¥2.5 .3 ¥12.7 ¥28.9 ¥18.8 0.2 .1 .3 .1 .2 .3 .2 .2 .3 ¥0.5 2.7 5.8 3.5 ¥2.0 ¥1.0 ¥7.8 ¥16.9 ¥9.3 .3 .4 ¥.1 .0 .1 ¥.1 ¥.1 ¥.2 .0 .0 ¥.1 ¥.1 .2 .0 .0 .2 .3 .1 .2 .2 .3 .1 .2 .1 ¥.7 ¥.1 ¥1.4 ¥1.7 .3 1.3 ¥.2 ¥.2 1.3 1.9 ¥1.1 ¥.4 .2 .5 .3 .3 5.3 7.6 ¥4.4 ¥2.6 .4 .3 .2 .4 1.7 3.3 ¥3.0 ¥2.4 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 Nov 24 2008 22:14 Jun 09, 2009 Jkt 050117 PO 00000 Frm 00024 Fmt 3401 .2 .......... .2 .......... .2 ¥2.4 .3 .......... Sfmt 3401 E:\HR\OC\ECOIND.024 ECOIND PRICES RECEIVED AND PAID BY FARMERS In May, prices received by farmers rose 1.6 percent and prices paid by farmers fell 0.6 percent. (Data are not seasonally adjusted.) [1990–92=100; not seasonally adjusted] Prices received by farmers 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 1999 ............................... 2000 .............................. 2001 .............................. 2002 .............................. 2003 .............................. 2004 .............................. 2005 r ............................. 2006 .............................. 2007 .............................. 2008 r ............................. 96 96 102 98 106 118 114 115 136 149 97 96 99 105 110 115 110 120 143 168 95 97 106 90 103 122 119 111 130 130 115 119 123 124 128 134 142 150 160 182 113 117 121 121 125 133 142 150 161 187 111 115 120 119 124 132 140 148 160 188 83 81 83 79 84 88 81 77 85 82 2008: May r .................. June ................... July r .................. Aug r ................... Sept ................... Oct ..................... Nov .................... Dec .................... 152 158 159 156 154 150 141 135 173 183 182 177 174 167 156 149 134 137 138 137 133 127 123 119 184 187 191 191 190 187 182 177 188 193 197 197 196 192 187 181 191 196 201 202 200 195 189 182 83 84 83 82 81 80 77 76 2009: Jan .................... Feb .................... Mar .................... Apr r ................... May p .................. 139 126 126 129 131 160 146 146 151 153 114 109 109 112 112 178 177 178 177 176 182 181 182 181 180 181 179 180 179 178 78 71 71 73 74 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 Nov 24 2008 22:14 Jun 09, 2009 Jkt 050117 PO 00000 Frm 00025 Fmt 3401 Sfmt 3401 E:\HR\OC\ECOIND.025 ECOIND G:\GRAPHICS\eecoind.025 hsrobinson on PROD1PC76 with HEARING Period Prices paid by farmers MONEY, CREDIT, AND SECURITY MARKETS MONEY STOCK AND DEBT MEASURES In April, M2 fell. [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 ........................................................................................ ........................................................................................ ........................................................................................ ........................................................................................ ........................................................................................ ........................................................................................ ........................................................................................ ........................................................................................ ........................................................................................ ........................................................................................ 1,122.6 1,087.7 1,182.3 1,220.4 1,306.8 1,376.4 1,374.2 1,365.6 1,364.5 1,595.4 4,630.1 4,909.4 5,416.1 5,763.5 6,054.7 6,398.4 6,659.1 7,019.1 7,414.9 8,123.8 17,308.2 18,184.0 19,319.8 20,732.1 22,441.9 24,450.2 26,776.8 29,166.3 31,672.8 33,517.9 2.4 ¥3.1 8.7 3.2 7.1 5.3 ¥.2 ¥.6 ¥.1 16.9 5.8 6.0 10.3 6.4 5.1 5.7 4.1 5.4 5.6 9.6 6.4 5.0 6.3 7.3 8.1 8.9 9.5 8.9 8.6 5.8 2008: Apr ........................................................................................ May ........................................................................................ June ....................................................................................... July ........................................................................................ Aug ........................................................................................ Sept ....................................................................................... Oct ......................................................................................... Nov ........................................................................................ Dec ........................................................................................ 1,373.6 1,373.6 1,383.6 1,400.0 1,391.9 1,451.8 1,475.0 1,523.5 1,595.4 7,618.4 7,637.0 7,647.7 7,692.2 7,673.2 7,782.1 7,900.7 7,951.5 8,123.8 ............................ ............................ 32,339.1 ............................ ............................ 32,995.8 ............................ ............................ 33,517.9 .3 1.0 2.8 4.6 3.1 11.5 14.8 21.8 30.6 7.3 6.9 6.3 6.2 3.6 4.8 7.4 8.2 12.5 ...................... ...................... 3.1 ...................... ...................... 8.1 ...................... ...................... 6.3 2009: Jan r ....................................................................................... Feb ........................................................................................ Mar r ....................................................................................... Apr ........................................................................................ 1,576.1 1,559.5 1,562.3 1,592.3 8,210.1 8,241.9 8,316.6 8,264.0 ............................ ............................ ............................ ............................ 25.2 24.1 15.2 15.9 13.5 14.8 13.7 9.2 ...................... ...................... ...................... ...................... hsrobinson on PROD1PC76 with HEARING 1999: 2000: 2001: 2002: 2003: 2004: 2005: 2006: 2007: 2008: Dec Dec Dec Dec Dec Dec Dec Dec Dec Dec 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 22:14 Jun 09, 2009 Jkt 050117 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 Nov 24 2008 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 1999: 2000: 2001: 2002: 2003: 2004: 2005: 2006: 2007: 2008: Dec Dec Dec Dec Dec Dec Dec Dec Dec Dec 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 Total At commercial banks At thrift institutions Retail money funds Institutional money funds 3 ...... ...... ...... ...... ...... ...... ...... ...... ...... ...... 517.8 531.2 581.1 626.3 662.5 697.5 723.6 748.3 757.6 812.1 8.6 8.3 8.0 7.8 7.7 7.5 7.2 6.7 6.3 5.5 353.0 309.9 335.7 306.8 326.4 343.2 324.6 304.8 292.9 464.8 243.3 238.4 257.5 279.6 310.3 328.2 318.9 305.8 307.8 313.0 139.7 133.2 142.0 154.3 175.3 187.0 180.7 177.2 174.3 178.9 103.7 105.2 115.4 125.3 135.0 141.1 138.1 128.6 133.5 134.2 1,739.5 1,878.3 2,309.0 2,774.0 3,162.7 3,506.4 3,602.3 3,692.7 3,868.7 4,100.5 1,288.4 1,424.3 1,738.3 2,060.2 2,337.9 2,631.1 2,773.9 2,909.7 3,041.3 3,328.7 451.0 454.0 570.7 713.7 824.7 875.3 828.4 783.0 827.3 771.8 955.2 1,046.0 974.5 894.7 817.8 827.8 992.5 1,167.3 1,214.4 1,369.2 636.9 700.8 636.1 591.2 541.7 551.4 645.3 759.3 822.9 r 1,018.2 318.3 345.2 338.5 303.4 276.1 276.4 347.2 408.0 391.5 351.0 812.8 897.3 950.3 874.5 767.4 687.7 690.1 793.5 967.3 1,058.7 660.3 815.4 1,219.0 1,268.4 1,129.2 1,080.0 1,149.3 1,350.8 1,899.8 2,385.5 2008: Apr ...... May ..... June .... July ..... Aug ..... Sept ..... Oct ...... Nov ..... Dec ...... 760.1 763.4 769.0 774.5 777.0 781.6 796.5 804.3 812.1 6.1 6.1 6.0 5.9 5.8 5.8 5.7 5.6 5.5 295.1 292.0 294.3 303.5 300.6 350.2 r 360.6 406.7 464.8 312.3 312.2 314.2 316.1 308.4 314.2 312.1 306.9 313.0 177.1 175.1 176.4 176.8 172.4 176.9 176.3 173.5 178.9 135.3 137.1 137.7 139.3 136.0 137.3 135.8 133.4 134.2 3,981.2 4,010.1 4,021.2 4,033.1 4,005.9 4,032.8 4,034.9 4,015.6 4,100.5 3,122.0 3,126.5 3,123.9 3,130.9 3,116.5 3,170.8 3,250.3 3,246.4 3,328.7 859.2 883.6 897.3 902.2 889.4 862.0 784.7 769.2 771.8 1,208.6 1,207.4 1,206.8 1,217.6 1,242.2 1,266.5 r 1,324.2 1,354.1 1,369.2 817.5 818.8 823.3 838.4 861.5 889.5 979.0 r 1,003.3 r 1,018.2 391.2 388.6 383.5 379.2 380.6 377.0 345.1 350.9 351.0 1,055.0 1,045.9 1,036.2 1,041.5 1,033.2 1,031.1 1,066.7 1,058.3 1,058.7 2,174.7 2,210.3 2,242.2 2,259.3 2,280.9 2,245.5 2,227.6 2,322.5 2,385.5 2009: Jan r ..... Feb r .... Mar r .... Apr ...... 826.3 837.7 845.0 849.6 5.5 5.5 5.4 5.3 434.2 395.6 389.5 405.4 310.1 320.7 322.4 331.9 175.2 180.9 182.1 191.2 134.9 139.8 140.3 140.7 4,213.7 4,291.4 4,375.7 4,342.5 3,432.3 3,499.2 3,566.4 3,531.7 781.4 792.2 809.3 810.8 1,364.4 1,354.4 1,346.8 1,326.9 1,011.6 1,000.2 991.3 976.9 352.8 354.3 355.6 350.1 1,055.9 1,036.6 1,031.9 1,002.3 2,471.8 2,489.3 2,492.4 2,510.8 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 Borrowings from the Federal Reserve (NSA) Other borrowings from the Federal Reserve Reserves of depository institutions Period Total 2 hsrobinson on PROD1PC76 with HEARING 1999: 2000: 2001: 2002: 2003: 2004: 2005: 2006: 2007: 2008: Dec Dec Dec Dec Dec Dec Dec Dec Dec Dec Nonborrowed 3 Required Excess (NSA) Monetary base Total 4 Term auction credit Primary Primary dealer and other brokerdealer credit 5 Assetbacked commerical paper money market mutual fund liquidity facility Credit extended to American International Group, Inc. Adjustment 6 ......... ......... ......... ......... ......... ......... ......... ......... ......... ......... 42,183 38,717 41,442 40,400 42,757 46,552 45,139 43,338 42,674 821,055 41,862 38,507 41,376 40,320 42,711 46,489 44,970 43,147 27,243 167,489 40,889 37,391 39,799 38,392 41,710 44,643 43,238 41,475 40,905 53,655 1,294 1,325 1,643 2,008 1,047 1,909 1,901 1,863 1,769 767,400 593,842 584,928 635,557 681,629 720,402 759,072 786,976 811,126 822,356 1,651,278 320 210 67 80 46 63 169 191 15,431 653,565 .............. .............. .............. .............. .............. .............. .............. .............. 11,613 438,327 .............. .............. .............. .............. 17 11 97 111 3,787 88,245 .............. .............. .............. .............. .............. .............. .............. .............. .............. 47,631 .................. .................. .................. .................. .................. .................. .................. .................. .................. 32,102 .............. .............. .............. .............. .............. .............. .............. .............. .............. 47,206 179 99 34 35 .............. .............. .............. .............. .............. .............. 2008: May ........ June ....... July ........ Aug ......... Sept ........ Oct ......... Nov ......... Dec ......... 44,130 43,363 43,333 44,565 102,784 315,512 609,962 821,055 ¥111,650 ¥127,915 ¥122,331 ¥123,514 ¥187,322 ¥332,807 ¥88,824 167,489 42,119 41,092 41,360 42,571 42,726 47,606 50,920 53,655 2,011 2,271 1,973 1,993 60,057 267,907 559,042 767,400 827,171 832,489 838,059 842,813 905,168 1,130,296 1,433,503 1,651,278 155,780 171,278 165,664 168,078 290,105 648,319 698,786 653,565 127,419 150,000 150,000 150,000 149,814 244,778 393,088 438,327 14,076 14,225 15,204 17,980 32,632 94,017 95,839 88,245 14,238 6,908 255 0 53,473 114,953 60,655 47,631 .................. .................. .................. .................. 31,877 117,457 71,009 32,102 .............. .............. .............. .............. 22,187 77,047 78,070 47,206 .............. .............. .............. .............. .............. .............. .............. .............. 2009: Jan ......... Feb r ........ Mar r ....... Apr r ........ May p ....... 858,418 700,967 779,955 881,556 901,291 294,922 118,470 167,843 323,362 375,843 60,173 57,459 55,321 57,175 57,188 798,245 643,508 724,633 824,381 844,103 1,703,117 1,557,493 1,643,137 1,749,791 1,769,957 563,496 582,497 612,111 558,194 525,448 403,523 438,822 477,049 444,933 403,970 70,436 65,463 62,513 47,324 40,124 33,061 26,250 20,292 10,918 701 17,745 13,533 7,857 4,267 23,347 38,690 38,414 43,328 45,057 44,915 .............. .............. .............. 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. 3 Seasonally adjusted break-adjusted total reserves less unadjusted total borrowings of depository institutions from the Federal Reserve. .............. 4 Includes secondary and seasonal, and other credit extensions, not shown separately. 5 Includes credit extended through the Primary Dealer Credit Facility and credit extended to other broker-dealers. 6 Discontinued after January 8, 2003. Source: Board of Governors of the Federal Reserve System. 27 VerDate Nov 24 2008 22:14 Jun 09, 2009 Jkt 050117 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 fell 0.6 percent in April; commercial and industrial loans fell 1.3 percent. [Billions of dollars, seasonally adjusted 1] Securities in bank credit Dec r .......... Dec ........... Dec r .......... Dec ........... Dec r .......... Dec ........... Dec ........... Dec ........... Dec r .......... Dec r .......... Apr r .......... May r ......... June r ........ July r ......... Aug r ......... Sept r ......... Oct r .......... Nov r ......... Dec r .......... 2009: Jan r .......... Feb r .......... Mar r ......... Apr ........... hsrobinson on PROD1PC76 with HEARING 1999: 2000: 2001: 2002: 2003: 2004: 2005: 2006: 2007: 2008: 2008: Total bank credit 4,743.1 5,200.4 5,409.7 5,888.2 6,262.7 6,811.5 7,531.8 8,359.3 9,207.3 9,971.4 9,420.4 9,425.4 9,404.5 9,429.7 9,419.0 9,576.9 9,987.6 9,929.7 9,971.4 9,887.7 9,833.3 9,814.6 9,728.4 Total securities 1,270.0 1,336.2 1,480.5 1,719.7 1,851.0 1,944.5 2,063.0 2,240.4 2,407.8 2,777.3 2,527.4 2,506.5 2,500.1 2,510.8 2,491.7 2,542.6 2,724.9 2,717.3 2,777.3 2,753.5 2,696.8 2,721.4 2,677.2 U.S. Treasury and agency securities 811.3 789.5 849.2 1,033.1 1,107.7 1,165.5 1,159.7 1,211.7 1,128.5 1,262.2 1,099.6 1,109.4 1,125.9 1,123.4 1,131.6 1,155.6 1,235.9 1,264.5 1,262.2 1,281.4 1,268.1 1,279.9 1,265.2 458.7 546.8 631.3 686.5 743.4 779.0 903.4 1,028.7 1,279.3 1,515.0 1,427.9 1,397.1 1,374.2 1,387.5 1,360.1 1,387.0 1,489.0 1,452.7 1,515.0 1,472.2 1,428.6 1,441.5 1,412.0 3,473.1 3,864.2 3,929.2 4,168.5 4,411.7 4,867.1 5,468.8 6,118.9 6,799.5 7,194.2 6,893.0 6,918.8 6,904.4 6,918.9 6,927.3 7,034.3 7,262.7 7,212.4 7,194.2 7,134.2 7,136.5 7,093.2 7,051.2 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. 2 Includes other trading assets. Real estate Commercial and industrial Total loans and leases 3 Other securities 2 Total 4 990.2 1,078.4 1,018.0 955.7 896.1 918.5 1,035.8 1,187.5 1,436.3 1,582.2 1,487.1 1,493.3 1,504.8 1,515.6 1,516.0 1,536.5 1,601.9 1,599.8 1,582.2 1,570.1 1,559.7 1,542.5 1,521.9 1,475.3 1,660.5 1,789.8 2,038.4 2,235.4 2,574.8 2,942.0 3,378.8 3,607.1 3,827.7 3,643.6 3,639.8 3,631.7 3,620.7 3,623.1 3,660.4 3,820.4 3,826.3 3,827.7 3,810.6 3,829.7 3,831.6 3,837.5 Revolving home equity 101.7 130.4 156.0 213.8 281.1 399.2 445.6 469.9 486.0 590.7 506.2 511.1 516.7 522.4 526.8 540.2 579.7 585.0 590.7 594.5 597.0 601.4 606.1 Commercial .............. .............. .............. .............. .............. 1,081.7 1,273.0 1,452.2 1,601.6 1,736.5 1,651.0 1,660.8 1,672.2 1,675.3 1,677.5 1,687.7 1,728.5 1,731.8 1,736.5 1,730.1 1,729.6 1,727.7 1,725.1 22:14 Jun 09, 2009 Jkt 050117 PO 00000 Frm 00028 Fmt 3401 491.7 541.2 559.4 589.7 645.8 698.3 707.6 742.8 806.8 881.4 824.8 828.8 833.9 843.0 847.8 853.7 872.2 878.2 881.4 891.6 900.1 892.6 881.2 Security 5 128.6 153.1 119.8 161.2 187.9 188.7 236.4 257.4 285.4 244.7 287.5 304.7 290.1 297.7 303.6 327.4 293.6 263.3 244.7 224.5 218.1 198.0 188.3 Other 387.2 431.0 442.2 423.5 446.4 486.8 547.0 552.5 663.9 658.1 650.0 652.2 643.9 641.8 636.8 656.4 674.6 644.7 658.1 637.4 629.0 628.6 622.3 3 Excludes unearned income. Includes the allowance for loan and lease losses. Excludes Federal funds sold to, reverse repurchase agreements (RPs) with, and loans to commercial banks in the United States. 4 Includes other residential, not shown separately. 5 Includes other items, not shown separately. Source: Board of Governors of the Federal Reserve System. 28 VerDate Nov 24 2008 Consumer 5 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 Internal 1 Total 1999 ................ 2000 ................ 2001 ................ 2002 ................ 2003 ................ 2004 ................ 2005 ................ 2006 ................ 2007 ................ 2008 p .............. 2006: I ........... II ......... III ........ IV ........ 2007: I ........... II ......... III ........ IV ........ 2008: I ........... II ......... III ........ IV p ....... 1,718.6 1,955.4 850.2 896.2 844.7 1,537.5 2,026.3 1,922.5 2,002.7 1,582.0 1,831.5 2,126.8 1,833.3 1,898.2 1,882.9 1,928.6 2,327.7 1,871.8 1,821.7 1,566.2 1,295.0 1,645.0 731.0 718.0 755.0 811.3 831.3 928.5 1,065.1 1,086.0 1,047.0 1,044.9 1,094.3 1,091.2 1,117.2 1,041.2 1,028.8 1,032.7 1,065.0 1,061.7 1,041.2 1,008.7 1,088.4 1,041.3 Credit market instruments Total 987.6 1,237.4 95.2 84.9 13.4 609.0 961.2 836.5 955.7 537.1 737.2 1,035.6 716.1 857.0 854.1 895.9 1,262.7 810.1 780.5 557.5 206.6 603.7 Total Total net funds raised Net new equity issues 273.4 243.7 164.6 ¥18.5 46.2 79.5 ¥28.2 ¥133.2 ¥29.8 ¥71.4 ¥121.1 ¥111.2 ¥251.0 ¥49.6 101.6 64.5 12.8 ¥298.1 ¥57.9 154.1 ¥88.4 ¥293.2 ¥110.4 ¥118.2 ¥48.1 ¥41.4 ¥41.1 ¥124.4 ¥360.7 ¥602.7 ¥831.2 ¥395.1 ¥566.1 ¥578.0 ¥524.1 ¥742.5 ¥566.7 ¥799.1 ¥864.9 ¥1,093.9 ¥475.1 ¥262.0 ¥393.2 ¥450.0 Total Securities and mortgages 383.7 361.9 212.8 22.9 87.3 204.0 332.5 469.5 801.3 323.7 445.0 466.8 273.1 692.9 668.4 863.6 877.7 795.8 417.2 416.1 304.8 156.8 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). 273.7 187.3 399.7 167.1 217.0 134.8 266.4 314.3 438.0 254.9 329.9 290.7 246.8 389.9 421.4 528.3 358.5 443.7 267.3 416.9 135.5 199.8 Loans and shortterm paper Other 2 110.1 174.6 ¥187.0 ¥144.2 ¥129.7 69.2 66.2 155.2 363.4 68.8 115.1 176.0 26.3 303.1 246.9 335.2 519.1 352.1 149.9 ¥.8 169.3 ¥42.9 714.3 993.7 ¥69.4 103.4 ¥32.8 529.6 989.4 969.6 985.5 608.4 858.3 1,146.7 967.1 906.6 752.4 831.4 1,249.9 1,108.2 838.4 403.4 295.0 897.0 1,833.8 2,137.7 980.2 867.2 832.5 1,608.8 1,879.8 1,772.5 2,121.1 1,555.5 1,722.9 1,979.3 1,723.5 1,664.1 1,955.1 2,109.8 2,521.7 1,898.5 1,884.9 1,421.7 1,265.7 1,650.0 Capital expenditures 3 863.9 928.5 802.6 737.1 749.9 825.7 922.0 1,059.4 1,047.3 1,068.9 1,013.3 1,063.6 1,076.3 1,084.3 1,009.2 1,044.0 1,083.8 1,052.0 1,066.7 1,120.6 1,065.7 1,022.7 Increase in financial assets 969.9 1,209.2 177.6 130.1 82.6 783.1 957.8 713.1 1,073.8 486.6 709.6 915.7 647.2 579.8 945.9 1,065.8 1,437.2 846.5 818.2 301.1 200.0 627.3 Discrepancy (sources less uses) ¥115.2 ¥182.4 ¥130.0 28.9 12.1 ¥71.3 146.5 150.0 ¥118.4 26.4 108.6 147.6 109.8 234.1 ¥72.2 ¥181.2 ¥193.3 ¥26.8 ¥63.2 144.5 29.4 ¥5.0 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 hsrobinson on PROD1PC76 with HEARING 1999: 2000: 2001: 2002: 2003: 2004: 2005: 2006: 2007: 2008: 2008: Dec ............................................................................... Dec ............................................................................... Dec ............................................................................... Dec ............................................................................... Dec ............................................................................... Dec ............................................................................... Dec ............................................................................... Dec ............................................................................... Dec ............................................................................... Dec r .............................................................................. Apr ............................................................................... May .............................................................................. June ............................................................................. July .............................................................................. Aug .............................................................................. Sept .............................................................................. Oct r .............................................................................. Nov r ............................................................................. Dec r .............................................................................. 2009: Jan r .............................................................................. Feb r .............................................................................. Mar r ............................................................................. Apr p ............................................................................. Revolving 1,532.4 1,717.7 1,867.3 1,974.3 2,078.3 2,191.6 2,285.2 2,387.7 2,519.0 2,562.3 2,558.8 2,565.5 2,574.1 2,581.8 2,575.8 2,582.8 2,578.1 2,568.8 2,562.3 2,567.1 2,556.2 2,539.7 2,524.0 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. 610.7 683.7 716.6 748.8 770.4 799.8 824.5 874.6 939.5 960.9 957.3 963.0 965.8 972.1 974.2 976.8 974.0 968.3 960.9 959.6 948.4 939.6 931.0 Nonrevolving 2 921.7 1,034.0 1,150.7 1,225.5 1,307.9 1,391.8 1,460.7 1,513.1 1,579.5 1,601.4 1,601.5 1,602.5 1,608.3 1,609.7 1,601.6 1,606.0 1,604.2 1,600.5 1,601.4 1,607.6 1,607.8 1,600.1 1,593.0 Net change in consumer credit outstanding 1 Total 111.4 185.3 149.6 107.0 104.0 113.3 93.6 102.5 131.3 43.3 9.8 6.7 8.6 7.7 ¥6.0 7.0 ¥4.7 ¥9.3 ¥6.5 4.8 ¥10.9 ¥16.5 ¥15.7 Revolving 29.3 73.0 32.9 32.2 21.6 29.4 24.7 50.1 64.9 21.4 .0 5.7 2.8 6.3 2.1 2.6 ¥2.8 ¥5.7 ¥7.4 ¥1.3 ¥11.2 ¥8.8 ¥8.6 Nonrevolving 2 82.1 112.3 116.7 74.8 82.4 83.9 68.9 52.4 66.4 21.9 9.8 1.0 5.8 1.4 ¥8.1 4.4 ¥1.8 ¥3.7 .9 6.2 .2 ¥7.7 ¥7.1 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 Nov 24 2008 22:14 Jun 09, 2009 Jkt 050117 PO 00000 Frm 00029 Fmt 3401 Sfmt 3401 E:\HR\OC\ECOIND.029 ECOIND INTEREST RATES AND BOND YIELDS Interest rates were mixed in May. [Percent per annum] Constant hsrobinson on PROD1PC76 with HEARING Period 3-month bills (at auction) 1 1999 ....................... 2000 ....................... 2001 ....................... 2002 ....................... 2003 ....................... 2004 ....................... 2005 ....................... 2006 ....................... 2007 ....................... 2008 ....................... 2008: May ............ June ........... July ............ Aug ............. Sept ............ Oct .............. Nov ............. Dec ............. 2009: Jan .............. Feb ............. Mar ............. Apr ............. May ............ Week ended: 2009: May 9 ......... 16 ......... 23 ......... 30 ......... June 6 ........ 3-year maturities 2 10-year 30-year Highgrade municipal bonds (Standard & Poor’s) 3 Corporate Aaa bonds (Moody’s) 5.49 6.22 4.09 3.10 2.10 2.78 3.93 4.77 4.35 2.24 2.69 3.08 2.87 2.70 2.32 1.86 1.51 1.07 1.13 1.37 1.31 1.32 1.39 5.65 6.03 5.02 4.61 4.01 4.27 4.29 4.80 4.63 3.66 3.88 4.10 4.01 3.89 3.69 3.81 3.53 2.42 2.52 2.87 2.82 2.93 3.29 5.87 5.94 5.49 * * * * 4.91 4.84 4.28 4.60 4.69 4.57 4.50 4.27 4.17 4.00 2.87 3.13 3.59 3.64 3.76 4.23 5.43 5.77 5.19 5.05 4.73 4.63 4.29 4.42 4.42 4.80 4.34 4.48 4.88 4.90 5.03 5.68 5.28 5.53 5.13 5.00 5.15 4.88 4.60 7.04 7.62 7.08 6.49 5.67 5.63 5.24 5.59 5.56 5.64 5.57 5.68 5.67 5.64 5.65 6.28 6.15 5.08 5.05 5.27 5.50 5.39 5.54 .............. .............. .............. .............. 2.12 2.34 4.19 5.96 5.86 2.39 2.25 2.25 2.25 2.25 2.25 1.25 1.25 .50 .50 .50 .50 .50 .50 .20 .19 .19 .18 .15 1.44 1.32 1.36 1.47 1.59 3.23 3.14 3.29 3.59 3.70 4.15 4.12 4.24 4.48 4.54 4.75 4.62 4.46 4.56 4.75 5.50 5.44 5.57 5.69 5.68 .50 .50 .50 .50 .50 30 22:14 Jun 09, 2009 Primary credit 4.66 5.85 3.44 1.62 1.01 1.38 3.16 4.73 4.41 1.48 1.71 1.89 1.72 1.79 1.46 .84 .30 .04 .12 .31 .25 .17 .15 1 High bill rate at auction, issue date within period, bank-discount basis. Data are stop yields from uniform-price auctions. 2 Yields on actively traded issues adjusted to constant maturities. 3 Weekly 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. VerDate Nov 24 2008 Discount window (N.Y. F.R. Bank) 4 5 Jkt 050117 PO 00000 Frm 00030 Fmt 3401 Discount rate Prime rate charged by banks 5 4.62 5.73 3.40 1.17 Federal funds rate 6 Newhome mortgage yields (FHFB) 7 * * * * * * * * * * * * * * * * * * * 8.00 9.23 6.91 4.67 4.12 4.34 6.19 7.96 8.05 5.09 5.00 5.00 5.00 5.00 5.00 4.00 4.00 3.25 3.25 3.25 3.25 3.25 3.25 4.97 6.24 3.88 1.67 1.13 1.35 3.22 4.97 5.02 1.92 1.98 2.00 2.01 2.00 1.81 .97 .39 .16 .15 .22 .18 .15 .18 7.04 7.52 7.00 6.43 5.80 5.77 5.94 6.63 6.41 6.05 6.01 6.13 6.29 6.33 6.09 6.10 6.16 5.67 5.11 5.09 5.10 4.96 .............. * * * * * 3.25 3.25 3.25 3.25 3.25 .21 .17 .16 .17 .19 .............. .............. .............. .............. .............. 6 Daily effective rate; weighted average of rates on brokered trades. 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. Sfmt 3401 E:\HR\OC\ECOIND.030 ECOIND g:\graphics\eecoind.030 U.S. Treasury security yields COMMON STOCK PRICES AND YIELDS Stock prices rose in May. Common stock prices 1 New York Stock Exchange indexes 2 3 (December 31, 2002=5,000) Nasdaq composite index (Feb. 5, 1971=100) 6 Dividendprice ratio Earningsprice ratio Composite Financial Energy Health Care ......................................................... ......................................................... ......................................................... ......................................................... ......................................................... ......................................................... ......................................................... ......................................................... ......................................................... ......................................................... 6,546.81 6,805.89 6,397.85 5,578.89 5,447.46 6,612.62 7,349.00 8,357.99 9,648.82 8,036.88 ................ ................ ................ ................ 5,583.00 6,822.18 7,383.70 8,654.40 9,321.39 6,278.38 .................. .................. .................. .................. 5,273.90 6,952.36 9,377.84 11,206.94 13,339.99 13,258.42 ................ ................ ................ ................ 5,288.67 5,924.80 6,283.96 6,685.06 7,191.79 6,171.19 10,464.88 10,734.90 10,189.13 9,226.43 8,993.59 10,317.39 10,547.67 11,408.67 13,169.98 11,252.62 1,327.33 1,427.22 1,194.18 993.94 965.23 1,130.65 1,207.23 1,310.46 1,477.19 1,220.04 2,728.15 3,783.67 2,035.00 1,539.73 1,647.17 1,986.53 2,099.32 2,263.41 2,578.47 2,161.65 1.25 1.15 1.32 1.61 1.77 1.72 1.83 1.87 1.86 2.37 3.17 3.63 2.95 2.92 3.84 4.89 5.36 5.78 5.29 3.54 2008: May ............................................. June ............................................ July ............................................. Aug .............................................. Sept ............................................. Oct ............................................... Nov .............................................. Dec .............................................. 9,429.04 8,996.98 8,427.37 8,362.20 7,886.29 6,130.39 5,527.63 5,525.70 7,593.63 6,798.20 6,207.89 6,304.58 6,159.18 4,733.74 3,779.86 3,673.95 16,365.23 16,272.67 14,899.86 13,772.04 12,562.82 9,515.71 9,262.07 9,136.33 6,405.40 6,243.42 6,412.48 6,618.92 6,316.05 5,434.03 5,088.99 5,090.83 12,812.48 12,056.67 11,322.38 11,530.75 11,114.08 9,176.71 8,614.55 8,595.56 1,403.22 1,341.25 1,257.33 1,281.47 1,217.01 968.80 883.04 877.56 2,483.24 2,427.45 2,278.14 2,389.27 2,205.20 1,730.32 1,542.70 1,525.89 2.07 2.15 2.27 2.23 2.36 2.83 3.11 3.00 .................. 4.01 .................. .................. 3.94 .................. .................. 1.65 2009: Jan Feb Mar Apr May ............................................... .............................................. .............................................. .............................................. ............................................. 5,477.14 5,051.42 4,739.72 5,338.39 5,823.10 3,337.14 2,823.74 2,633.65 3,313.47 3,819.95 9,295.97 8,785.04 8,266.81 8,839.95 9,848.66 5,256.13 5,106.78 4,596.81 4,771.71 5,051.78 8,396.20 7,690.50 7,235.47 7,992.12 8,398.37 865.58 805.23 757.13 848.15 902.41 1,537.20 1,485.98 1,432.23 1,641.15 1,726.08 3.01 3.07 2.92 2.60 2.41 .................. .................. p.87 .................. .................. Week ended: 2009: May 9 ......................................... 16 ........................................ 23 ........................................ 30 ........................................ June 6 ....................................... 5,852.40 5,754.25 5,835.73 5,920.32 6,115.85 3,867.35 3,752.52 3,836.33 3,903.68 3,996.13 9,800.33 9,760.50 9,870.62 10,125.25 10,583.23 4,958.41 5,070.40 5,103.70 5,143.53 5,219.73 8,466.83 8,354.55 8,394.08 8,419.41 8,730.19 913.44 895.49 899.33 907.34 940.38 1,746.40 1,696.14 1,716.40 1,751.91 1,838.17 2.36 2.45 2.39 2.42 2.32 .................. .................. .................. .................. .................. 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 hsrobinson on PROD1PC76 with HEARING Dow Jones industrial average 4 1 Average of daily closing prices. all the stocks (nearly 1,850) 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. about 3,000 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 Nov 24 2008 22:14 Jun 09, 2009 Jkt 050117 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 seventh month of fiscal 2009, there was a deficit of $802.3 billion, compared with a deficit of $153.5 billion a year earlier. [Billions of dollars] Total Surplus or deficit (¥) Surplus or deficit (¥) Receipts Outlays Surplus or deficit (¥) Outlays 1992 .................................. 1993 .................................. 1994 .................................. 1995 .................................. 1996 .................................. 1997 .................................. 1998 .................................. 1999 .................................. 2000 .................................. 2001 .................................. 2002 .................................. 2003 .................................. 2004 .................................. 2005 ................................... 2006 .................................. 2007 r ................................. 2008 r ................................. 2009 (estimates) r .............. 2010 (estimates) r .............. 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 2,568.2 2,524.3 2,156.7 2,332.6 1,381.6 ¥290.3 1,409.5 ¥255.1 1,461.9 ¥203.2 1,515.9 ¥164.0 1,560.6 ¥107.4 1,601.3 ¥21.9 1,652.7 69.3 1,702.0 125.6 1,789.2 236.2 1,863.2 128.2 2,011.2 ¥157.8 2,160.1 ¥377.6 2,293.0 ¥412.7 2,472.2 ¥318.3 2,655.4 ¥248.2 2,728.9 ¥160.7 2,982.9 ¥458.6 3,997.8 ¥1,841.2 3,591.1 ¥1,258.4 788.9 842.5 923.7 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 1,933.2 1,866.3 1,501.8 1,649.4 1,129.3 ¥340.4 1,142.9 ¥300.4 1,182.5 ¥258.8 1,227.2 ¥226.4 1,259.7 ¥174.0 1,290.7 ¥103.2 1,336.1 ¥29.9 1,381.3 1.9 1,458.5 86.4 1,516.4 ¥32.4 1,655.5 ¥317.4 1,797.1 ¥538.4 1,913.5 ¥568.0 2,070.0 ¥493.6 2,233.4 ¥434.5 2,275.3 ¥342.2 2,508.1 ¥641.9 3,479.6 ¥1,977.8 3,041.9 ¥1,392.5 302.4 311.9 335.0 351.1 367.5 392.0 415.8 444.5 480.6 507.5 515.3 523.8 534.7 577.5 608.4 635.1 658.0 654.9 683.2 252.3 266.6 279.4 288.7 300.9 310.6 316.6 320.8 330.8 346.8 355.7 363.0 379.5 402.2 422.1 453.6 474.8 518.2 549.1 50.1 45.3 55.7 62.4 66.6 81.4 99.2 123.7 149.8 160.7 159.7 160.8 155.2 175.3 186.3 181.5 183.3 136.6 134.1 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 8,950.7 9,985.8 12,867.5 14,456.3 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 5,035.1 5,802.7 8,531.4 9,881.9 Cumulative total, first 7 months: 1 Fiscal year 2008 ............... Fiscal year 2009 ............... 1,549.7 1,256.1 1,703.2 2,058.4 ¥153.5 ¥802.3 1,161.6 866.4 1,430.6 1,761.1 ¥269.1 ¥894.8 388.2 389.7 272.6 297.2 115.6 92.5 9,326.7 11,204.1 5,234.1 6,924.2 from current issue Monthly Treasury Statement. Outlays Federal debt (end of period) Receipts 1 Data Receipts Off-budget 22:14 Jun 09, 2009 Jkt 050117 PO 00000 Held by the public NOTE.—Data (except as noted) are from Budget of the United States Government, Fiscal Year 2010, issued May 11, 2009. Sources: Department of the Treasury and Office of Management and Budget. 32 VerDate Nov 24 2008 Gross Federal Frm 00032 Fmt 3401 Sfmt 3401 E:\HR\OC\ECOIND.032 ECOIND g:\graphics\eecoind.032 hsrobinson on PROD1PC76 with HEARING Fiscal year or period On-budget FEDERAL RECEIPTS BY SOURCE AND OUTLAYS BY FUNCTION In the seventh month of fiscal 2009, receipts were $293.6 billion lower than a year earlier and outlays were $355.2 billion higher. [Billions of dollars] On-budget and off-budget receipts Total hsrobinson on PROD1PC76 with HEARING 1992 1993 1994 1995 1996 1997 1998 1999 Individual income taxes Corporation income taxes On-budget and off-budget outlays National defense Other Department of Defense, military Total Total International affairs Health Medicare Income Social security security Net interest Other ............................................ ............................................ ............................................ ............................................ ............................................ ............................................ ............................................ ............................................ 1,091.3 1,154.5 1,258.7 1,351.9 1,453.2 1,579.4 1,722.0 1,827.6 476.0 509.7 543.1 590.2 656.4 737.5 828.6 879.5 100.3 117.5 140.4 157.0 171.8 182.3 188.7 184.7 413.7 428.3 461.5 484.5 509.4 539.4 571.8 611.8 101.4 99.0 113.8 120.2 115.5 120.3 132.9 151.7 1,381.6 1,409.5 1,461.9 1,515.9 1,560.6 1,601.3 1,652.7 1,702.0 298.4 291.1 281.6 272.1 265.8 270.5 268.2 274.8 286.8 278.5 268.6 259.4 253.1 258.3 255.8 261.2 16.1 17.2 17.1 16.4 13.5 15.2 13.1 15.2 89.5 99.4 107.1 115.4 119.4 123.8 131.4 141.1 119.0 130.6 144.7 159.9 174.2 190.0 192.8 190.4 199.6 210.0 217.2 223.8 229.7 235.0 237.8 242.5 287.6 304.6 319.6 335.8 349.7 365.3 379.2 390.0 199.3 198.7 202.9 232.1 241.1 244.0 241.1 229.8 2000 ............................................ 2001 ............................................ 2002 ............................................ 2003 ............................................ 2004 ............................................ 2005 ............................................ 2006 ............................................ 2007 r ........................................... 2008 r ........................................... 2009 (estimates) r ........................ 2010 (estimates) ......................... 2,025.5 1,991.4 1,853.4 1,782.5 1,880.3 2,153.9 2,407.3 2,568.2 2,524.3 2,156.7 2,332.6 1,004.5 994.3 858.3 793.7 809.0 927.2 1,043.9 1,163.5 1,145.7 953.0 1,051.4 207.3 151.1 148.0 131.8 189.4 278.3 353.9 370.2 304.3 146.8 178.9 652.9 694.0 700.8 713.0 733.4 794.1 837.8 869.6 900.2 899.2 940.4 160.9 152.0 146.2 144.1 148.5 154.2 171.6 164.9 174.1 157.7 161.9 1,789.2 1,863.2 2,011.2 2,160.1 2,293.0 2,472.2 2,655.4 2,728.9 2,982.9 3,997.8 3,591.1 294.4 304.8 348.5 404.8 455.8 495.3 521.8 551.3 616.1 690.3 712.9 281.1 290.2 331.9 387.2 436.5 474.1 499.3 528.6 594.7 665.0 685.1 17.2 16.5 22.4 21.2 26.9 34.6 29.5 28.5 28.9 34.7 50.1 154.5 172.3 196.5 219.6 240.1 250.6 252.8 266.4 280.6 353.4 389.0 197.1 217.4 230.9 249.4 269.4 298.6 329.9 375.4 390.8 430.8 457.8 253.7 269.8 312.7 334.6 333.1 345.8 352.5 366.0 431.3 519.3 547.5 409.4 433.0 456.0 474.7 495.5 523.3 548.5 586.2 617.0 680.5 702.3 222.9 239.9 206.2 243.4 170.9 273.3 153.1 302.7 160.2 311.9 184.0 339.9 226.6 393.8 237.1 318.1 252.8 365.4 142.7 1,146.1 135.9 595.7 Cumulative total, first 7 months:1 Fiscal year 2008 ......................... Fiscal year 2009 ......................... 1,549.7 1,256.1 747.6 566.4 171.1 70.8 528.4 528.4 102.7 1,703.2 90.6 2,058.4 359.3 385.9 342.4 368.6 16.2 21.7 163.1 189.7 220.4 243.2 257.0 321.2 353.4 380.8 145.3 114.0 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. 172.2 158.0 171.7 160.3 167.3 157.4 189.0 218.2 188.6 401.8 NOTE.—Data (except as noted) are from Budget of the United States Government, Fiscal Year 2010, issued May 11, 2009. Sources: Department of the Treasury and Office of Management and Budget. 33 VerDate Nov 24 2008 22:14 Jun 09, 2009 Jkt 050117 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 2009, according to current estimates, Federal current receipts fell $155.6 billion (annual rate); while Federal current expenditures rose $99.3 billion. [Billions of dollars; quarterly data at seasonally adjusted annual rates] Federal Government current receipts Total Total 1 Calendar year: 1999 ................. 2000 ................. 2001 ................. 2002 ................. 2003 ................ 2004 ................ 2005 ................ 2006 ................ 2007 ................ 2008 r ............... 2005: III ............ IV ............ 2006: I ............... II ............. III ............ IV ............ 2007: I ............... II ............. III ............ IV ............ 2008: I ............... II ............. III ............ IV r ........... 2009: I r .............. 1 Includes hsrobinson on PROD1PC76 with HEARING 2 Includes 1,891.2 2,053.8 2,016.2 1,853.2 1,879.9 2,008.9 2,266.9 2,510.4 2,651.2 2,569.3 2,214.5 2,363.3 2,453.6 2,487.6 2,531.9 2,568.6 2,612.8 2,648.1 2,664.9 2,679.2 2,672.5 2,478.8 2,595.7 2,530.3 2,374.7 1,195.7 1,313.6 1,252.2 1,075.5 1,070.8 1,152.3 1,383.0 1,550.2 1,644.5 1,526.8 1,375.8 1,448.0 1,504.7 1,535.1 1,570.9 1,590.2 1,615.2 1,648.2 1,654.4 1,660.0 1,634.9 1,436.0 1,565.0 1,471.3 1,313.9 Personal current taxes 893.0 999.1 994.5 830.5 774.5 797.4 930.7 1,049.9 1,167.3 1,124.0 944.2 965.8 1,018.8 1,031.6 1,056.0 1,093.2 1,139.5 1,157.1 1,178.1 1,194.7 1,201.2 999.8 1,141.7 1,153.1 979.0 Taxes on production and imports 83.9 87.8 85.8 87.3 89.7 94.6 99.2 98.0 97.7 96.2 100.0 98.5 97.8 98.2 98.6 97.4 97.7 96.9 98.2 98.0 95.8 96.9 94.7 97.3 89.7 Taxes on corporate income 213.0 219.4 164.7 150.5 197.8 250.3 341.0 388.9 365.4 291.1 318.0 370.6 377.3 394.4 404.6 379.5 365.6 381.5 365.1 349.5 322.5 324.4 313.4 204.3 231.2 651.6 691.7 717.5 734.3 758.9 805.2 850.0 902.4 942.3 972.0 857.0 865.7 893.6 895.7 902.6 917.7 937.1 936.4 943.3 952.3 968.9 971.8 976.0 971.0 969.5 Federal Government current expenditures Income receipts on assets Current transfer receipts Current surplus of government enterprises 21.5 25.2 24.9 20.2 22.9 23.8 24.0 25.7 29.2 31.8 23.8 23.1 23.7 24.9 26.0 28.2 28.4 29.0 29.8 29.5 29.9 31.7 32.4 33.1 33.5 22.7 25.7 27.1 24.8 25.0 28.8 15.0 35.7 37.5 39.3 ¥35.8 32.8 34.7 35.5 36.0 36.5 37.0 37.2 37.6 38.2 39.4 40.0 22.4 55.6 60.3 ¥0.3 ¥2.3 ¥5.5 ¥1.6 2.3 ¥1.2 ¥5.0 ¥3.6 ¥2.2 ¥.5 ¥6.4 ¥6.2 ¥3.1 ¥3.5 ¥3.6 ¥4.0 ¥5.1 ¥2.8 ¥.2 ¥.8 ¥.5 ¥.6 ¥.1 ¥.7 ¥2.4 taxes from the rest of the world, not shown separately. a subtraction for wage accruals less disbursements, not shown separately. Total 2 1,787.6 1,864.4 1,969.5 2,101.1 2,252.1 2,379.5 2,558.6 2,711.6 2,880.5 3,094.3 2,579.2 2,617.1 2,661.5 2,712.5 2,750.4 2,721.8 2,837.9 2,859.5 2,909.2 2,915.6 3,003.2 3,128.4 3,139.8 3,105.9 3,205.2 Consumption expenditures 475.1 499.3 531.9 591.5 662.7 723.7 766.3 811.8 856.1 931.9 782.1 764.5 805.9 809.2 816.2 816.0 832.5 851.1 869.1 871.6 898.0 918.2 954.2 957.5 960.1 Current transfer payments 986.1 1,038.1 1,131.4 1,243.0 1,328.7 1,390.6 1,478.0 1,568.1 1,666.7 1,806.4 1,483.0 1,508.7 1,535.4 1,566.5 1,584.6 1,586.0 1,650.2 1,652.6 1,671.4 1,692.5 1,729.2 1,860.1 1,794.9 1,841.5 1,949.5 22:14 Jun 09, 2009 Jkt 050117 PO 00000 Frm 00034 Fmt 3401 282.7 283.3 258.6 229.1 212.9 221.0 255.4 282.3 312.6 308.2 253.8 281.0 266.4 287.4 301.9 273.3 309.6 310.5 323.9 306.4 329.4 302.3 342.6 258.5 247.1 Subsidies 43.8 43.8 47.6 37.5 47.8 44.2 58.9 49.4 45.2 47.7 60.4 62.9 53.8 49.4 47.8 46.5 45.6 45.2 44.8 45.1 46.6 47.8 48.2 48.3 48.5 Net Federal Government saving 103.6 189.5 46.7 ¥247.9 ¥372.1 ¥370.6 ¥291.7 ¥201.1 ¥229.3 ¥525.0 ¥364.7 ¥253.8 ¥207.9 ¥225.0 ¥218.4 ¥153.2 ¥225.2 ¥211.4 ¥244.3 ¥236.3 ¥330.7 ¥649.6 ¥544.0 ¥575.6 ¥830.4 Note.—Revisions include changes to series affected by revised wage and salary estimates for 2008:IV Source: Department of Commerce, Bureau of Economic Analysis. 34 VerDate Nov 24 2008 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 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 United States Canada Japan Germany France Consumer prices (1982–84=100; NSA) United Kingdom Italy United States 1 Canada Japan France Germany Italy United Kingdom .............................. .............................. .............................. .............................. .............................. .............................. .............................. .............................. .............................. .............................. 99.5 103.7 100.1 100.0 101.3 103.8 107.2 109.7 111.3 108.8 94.4 102.6 98.4 100.0 100.1 101.7 103.5 103.3 103.2 r 98.5 103.0 108.4 101.3 100.0 103.0 108.0 109.6 114.2 117.6 113.6 97.3 100.9 101.8 100.0 98.9 100.3 100.5 r 101.9 r 103.3 100.8 95.4 100.8 101.1 100.0 100.5 103.6 107.1 113.2 120.1 120.1 98.3 102.4 101.3 100.0 99.4 99.0 98.3 101.8 104.0 r 100.6 101.4 103.2 101.7 100.0 99.3 100.2 99.2 99.8 100.0 97.2 166.6 172.2 177.1 179.9 184.0 188.9 195.3 201.6 207.342 215.303 160.5 164.9 169.0 172.8 177.6 180.9 184.9 188.6 192.6 197.2 121.8 121.0 120.1 119.0 118.7 118.7 118.3 118.7 118.7 120.3 155.0 157.6 160.2 163.3 166.7 170.3 173.2 176.2 178.8 183.8 140.5 142.5 145.3 147.4 148.9 151.4 153.7 156.2 159.7 163.9 226.2 231.9 238.3 244.3 250.8 256.3 261.4 266.9 271.8 280.9 194.3 200.1 203.6 207.0 213.0 219.4 225.6 232.8 242.7 252.4 2008: Mar r ................... Apr r ................... May r .................. June r ................. July r .................. Aug r ................... Sept r .................. Oct r .................... Nov r ................... Dec r ................... 111.6 111.0 110.7 110.4 110.4 109.2 104.8 106.2 104.8 102.4 99.2 99.8 99.1 99.2 100.3 98.6 98.1 97.5 95.5 93.2 119.0 118.2 119.6 117.2 116.9 113.3 113.4 109.6 101.9 93.4 103.8 104.9 101.2 101.2 101.7 102.3 100.6 97.0 94.3 92.8 123.6 123.8 121.8 122.3 120.6 123.1 120.4 117.8 112.8 107.7 105.7 106.5 103.1 103.0 101.9 101.5 98.4 95.9 92.4 88.1 99.8 99.7 98.7 98.3 97.8 97.0 96.7 94.8 92.5 91.1 213.528 214.823 216.632 218.815 219.964 219.086 218.783 216.573 212.425 210.228 194.6 196.1 198.0 199.4 200.1 199.8 199.9 197.9 197.2 195.8 119.5 119.4 120.3 120.9 121.1 121.5 121.5 121.4 120.3 119.8 183.0 183.7 184.6 185.3 184.9 184.9 184.7 184.6 183.8 183.3 163.4 163.1 164.0 164.5 165.4 165.0 164.8 164.5 163.7 164.2 278.6 279.2 280.7 281.9 283.3 283.8 282.9 282.9 281.9 281.5 249.2 251.4 252.7 254.7 254.4 255.2 256.6 255.8 253.8 250.1 2009: Jan r ................... 100.3 90.5 84.0 89.1 101.1 87.0 88.5 211.143 195.3 119.1 182.6 Feb r ................... 99.3 90.2 76.1 88.3 97.3 83.0 87.8 212.193 196.7 118.8 183.3 p Mar .................. 97.6 89.2 77.3 87.1 96.9 79.1 87.4 212.709 197.0 119.1 183.6 Apr p ................... 97.1 .............. 81.3 .............. .............. .............. .............. 213.240 196.8 119.2 183.9 May p .................. .............. .............. ............ .............. .............. .............. .............. .................. .............. ............ ............ 163.4 164.3 164.2 164.2 164.0 281.1 246.9 281.7 248.4 281.9 248.3 282.5 248.5 283.1 .............. 1 Data relate to all urban consumers. NOTE.—See Note, p. 17, for information on U.S. industrial production series. 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 hsrobinson on PROD1PC76 with HEARING 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 BOP basis ............. 684.0 ............. 772.0 ............. 718.7 ............. 682.4 ............. 713.4 ............. 807.5 ............. 894.6 ............. 1,023.1 ............. 1,148.5 ............. 1,291.4 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 695.8 781.9 729.1 693.1 724.8 818.8 906.0 1,036.6 1,162.5 1,300.5 46.0 47.9 49.4 49.6 55.0 56.6 59.0 66.0 84.3 108.4 147.5 172.6 160.1 156.8 173.0 203.9 233.0 276.0 316.3 387.3 BOP basis 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 1,477.1 363.3 98.4 115.3 1,681.8 415.0 107.0 129.1 1,861.4 447.4 121.0 146.1 1,967.9 469.5 120.9 161.2 2,112.2 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 1,024.6 1,218.0 1,141.0 1,161.4 1,257.1 1,469.7 1,673.5 1,853.9 1,957.0 2,100.1 43.6 46.0 46.6 49.7 55.8 62.1 68.1 74.9 81.7 89.0 221.4 299.0 273.9 267.7 313.8 412.8 523.8 602.0 634.7 775.5 295.7 347.0 298.0 283.3 295.9 343.6 379.3 418.3 444.5 453.9 179.0 195.9 189.8 203.7 210.1 228.2 239.4 256.6 258.9 233.5 241.9 281.8 284.3 307.8 333.9 372.9 407.2 442.6 474.9 482.2 281.9 298.6 286.2 292.3 304.3 353.1 389.1 433.9 497.2 544.4 199.2 223.7 221.8 231.1 250.4 291.2 313.5 348.9 378.1 404.7 ¥328.8 ¥436.1 ¥411.9 ¥468.3 ¥532.4 ¥650.9 ¥767.5 ¥817.3 ¥794.5 ¥799.6 ¥347.8 ¥454.7 ¥429.5 ¥485.0 ¥550.9 ¥669.6 ¥787.1 ¥838.3 ¥819.4 ¥820.8 82.7 74.9 64.4 61.2 54.0 61.8 75.6 85.0 119.1 139.7 ¥265.1 ¥379.8 ¥365.1 ¥423.7 ¥496.9 ¥607.7 ¥711.6 ¥753.3 ¥700.3 ¥681.1 2008: Mar ... Apr ... May .. June July .. Aug ... Sept .. Oct .... Nov ... Dec ... 104.9 110.0 110.9 116.2 120.7 117.8 107.7 104.7 97.0 88.8 105.5 110.7 111.5 116.9 121.6 118.9 108.2 105.4 98.0 89.6 9.5 9.8 9.6 10.3 10.3 10.1 8.9 8.1 7.6 6.9 31.6 32.8 34.2 36.8 38.3 37.4 33.0 31.6 27.3 22.7 37.9 40.1 39.5 40.6 41.5 42.4 38.2 38.0 36.6 36.0 9.4 10.0 10.2 10.8 12.1 10.4 10.3 10.1 9.0 7.7 12.6 13.4 13.4 14.1 14.9 14.0 13.5 13.3 13.1 12.3 173.9 183.4 183.5 188.0 195.4 189.4 177.8 174.3 150.3 140.0 172.3 181.8 182.8 187.2 194.3 188.7 176.3 173.5 149.6 139.7 7.1 7.4 7.7 7.5 7.6 7.8 7.6 7.7 7.3 7.1 61.8 67.8 67.3 73.6 80.1 74.0 65.5 65.0 48.5 42.8 38.0 39.2 39.9 38.5 39.1 38.3 38.8 37.4 35.1 33.8 20.3 21.4 20.4 20.5 20.4 19.3 18.4 17.6 16.4 14.8 39.6 40.3 41.9 41.4 41.2 43.7 40.3 40.4 36.9 36.1 44.7 45.2 46.2 46.9 46.7 46.9 46.0 45.1 43.6 43.8 33.2 33.6 34.1 34.2 34.6 35.5 34.1 33.6 32.8 32.4 ¥66.8 ¥71.1 ¥71.3 ¥70.3 ¥72.8 ¥69.9 ¥68.1 ¥68.1 ¥51.6 ¥50.1 ¥68.9 ¥73.5 ¥72.6 ¥71.8 ¥74.6 ¥71.6 ¥70.1 ¥69.6 ¥53.3 ¥51.3 11.5 11.6 12.2 12.6 12.1 11.3 11.9 11.5 10.8 11.4 ¥57.4 ¥61.8 ¥60.5 ¥59.1 ¥62.5 ¥60.2 ¥58.1 ¥58.0 ¥42.5 ¥39.9 2009: Jan ... Feb r .. Mar p 82.2 84.5 82.0 82.7 85.1 82.7 7.0 7.3 7.5 22.0 22.2 22.2 33.1 33.2 31.5 5.5 6.0 5.8 11.4 12.7 12.2 129.2 121.6 120.3 128.8 121.3 120.0 6.8 6.7 6.7 38.3 34.7 34.0 31.7 29.8 29.3 11.5 10.5 10.6 35.8 34.4 34.7 42.5 42.2 41.7 31.8 31.2 30.9 ¥46.1 ¥36.2 ¥37.3 ¥46.9 ¥37.1 ¥38.4 10.7 11.0 10.8 ¥36.2 ¥26.1 ¥27.6 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. Source: Department of Commerce (Bureau of the Census and Bureau of Economic Analysis). 35 VerDate Nov 24 2008 22:14 Jun 09, 2009 Jkt 050117 PO 00000 Frm 00035 Fmt 3401 Sfmt 3401 E:\HR\OC\ECOIND.035 ECOIND U.S. INTERNATIONAL TRANSACTIONS In the fourth quarter of 2008, the goods deficit fell to $174.1 billion, from $216.3 billion in the third quarter. The current account deficit fell to $132.8 billion in the fourth quarter, from $181.3 billion in the third quarter. [Millions of dollars; quarterly data seasonally adjusted. Credits (+), debits (¥)] Period hsrobinson on PROD1PC76 with HEARING Exports Imports Services Balance on goods Net military transactions 2 Net travel and transportation Income receipts and payments Other services, net Balance on goods and services Receipts Payments Balance on income Unilateral current transfers, net 3 Balance on current account 1999 .............. 2000 .............. 2001 .............. 2002 ............. 2003 ............. 2004 ............. 2005 ............. 2006 ............. 2007 ............. 2008 p ............ 683,965 771,994 718,712 682,422 713,415 807,516 894,631 1,023,109 1,148,481 1,291,371 ¥1,031,784 ¥1,226,684 ¥1,148,231 ¥1,167,377 ¥1,264,307 ¥1,477,094 ¥1,681,780 ¥1,861,380 ¥1,967,853 ¥2,112,196 ¥347,819 ¥454,690 ¥429,519 ¥484,955 ¥550,892 ¥669,578 ¥787,149 ¥838,270 ¥819,373 ¥820,825 2,593 317 ¥2,296 ¥7,158 ¥11,981 ¥13,518 ¥10,536 ¥13,602 ¥16,768 ¥21,427 7,085 2,486 ¥3,254 ¥4,245 ¥11,475 ¥14,275 ¥13,006 ¥10,788 2,181 17,245 73,051 72,052 69,943 72,633 77,433 89,640 99,124 109,377 133,702 143,877 ¥265,090 ¥379,835 ¥365,126 ¥423,725 ¥496,915 ¥607,730 ¥711,567 ¥753,283 ¥700,258 ¥681,130 293,925 350,918 290,797 280,942 320,456 413,739 535,263 685,150 817,779 755,468 ¥280,037 ¥329,864 ¥259,075 ¥253,544 ¥275,147 ¥346,519 ¥462,905 ¥627,956 ¥736,030 ¥627,891 13,888 21,054 31,722 27,398 45,309 67,219 72,358 57,194 81,749 127,577 ¥50,428 ¥58,645 ¥51,295 ¥64,948 ¥71,794 ¥84,482 ¥89,784 ¥92,027 ¥112,705 ¥119,713 ¥301,630 ¥417,426 ¥384,699 ¥461,275 ¥523,400 ¥624,993 ¥728,993 ¥788,116 ¥731,214 ¥673,265 2006: I ........ II ....... III ..... IV ..... 244,679 253,332 259,277 265,821 ¥453,286 ¥465,016 ¥477,900 ¥465,178 ¥208,607 ¥211,684 ¥218,623 ¥199,356 ¥3,121 ¥3,482 ¥3,641 ¥3,358 ¥2,853 ¥2,885 ¥2,622 ¥2,429 25,493 26,209 27,414 30,258 ¥189,087 ¥191,841 ¥197,471 ¥174,885 155,683 170,011 176,251 183,205 ¥141,031 ¥153,960 ¥164,969 ¥167,996 14,652 16,051 11,282 15,209 ¥21,516 ¥24,116 ¥24,716 ¥21,679 ¥195,952 ¥199,906 ¥210,906 ¥181,355 2007: I ........ II ....... III ..... IV ..... 270,318 279,488 295,494 303,180 ¥473,681 ¥485,375 ¥496,698 ¥512,099 ¥203,363 ¥205,887 ¥201,204 ¥208,919 ¥3,286 ¥4,085 ¥4,251 ¥5,146 ¥1,587 ¥806 1,064 3,509 28,692 31,960 36,276 36,773 ¥179,543 ¥178,819 ¥168,114 ¥173,783 186,746 202,171 213,520 215,343 ¥173,959 ¥192,492 ¥190,562 ¥179,016 12,787 9,679 22,958 36,327 ¥30,174 ¥24,953 ¥27,796 ¥29,784 ¥196,930 ¥194,093 ¥172,952 ¥167,241 2008: I ........ II ....... III ..... IV p .... 317,548 337,048 346,272 290,505 ¥530,126 ¥554,922 ¥562,526 ¥464,624 ¥212,578 ¥217,874 ¥216,254 ¥174,119 ¥4,398 ¥5,432 ¥6,214 ¥5,383 3,295 4,815 6,165 2,970 35,238 37,073 35,422 36,146 ¥178,443 ¥181,419 ¥180,882 ¥140,386 199,900 196,523 192,347 166,699 ¥166,633 ¥168,307 ¥162,766 ¥130,185 33,266 28,216 29,581 36,513 ¥31,731 ¥29,034 ¥29,998 ¥28,949 ¥176,909 ¥182,237 ¥181,299 ¥132,822 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. See p. 37 for continuation of table. 36 VerDate Nov 24 2008 22:14 Jun 09, 2009 Jkt 050117 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 decreased $298.0 billion in the fourth quarter of 2008, following a decrease of $134.4 billion in the third quarter. U.S. liabilities to private foreigners reported by U.S. banks, excluding Treasury securities, decreased $35.1 billion in the fourth quarter, following a decrease of $124.7 billion in the third quarter. [Millions of dollars; quarterly data seasonally adjusted. Credits (+), debits (¥)] Financial account Period hsrobinson on PROD1PC76 with HEARING Total 1999 ......... 2000 ......... 2001 ......... 2002 ......... 2003 ......... 2004 ......... 2005 ......... 2006 ......... 2007 ......... 2008 p ........ 2006: I .... II ... III IV .. 2007: I .... II ... III IV .. 2008: I .... II ... III IV p ¥4,939 ¥504,062 ¥1,010 ¥560,523 ¥1,270 ¥382,616 ¥1,470 ¥294,646 ¥3,480 ¥325,424 ¥2,369 ¥1,000,870 ¥4,036 ¥546,631 ¥3,880 ¥1,251,749 ¥1,843 ¥1,289,854 ¥2,600 ¥52,459 ¥1,716 ¥359,608 ¥1,005 ¥234,828 ¥533 ¥286,769 ¥626 ¥370,543 ¥543 ¥442,065 ¥112 ¥523,556 ¥617 ¥170,476 ¥571 ¥153,757 ¥600 ¥264,866 ¥631 99,910 ¥735 28,056 ¥633 84,441 Statistical discrepancy Foreign-owned assets in the U.S., excluding financial derivatives [increase/financial inflow (+)] U.S. official reserve assets 4 Other U.S. Government assets 8,747 ¥290 ¥4,911 ¥3,681 1,523 2,805 14,096 2,374 ¥122 ¥4,848 513 ¥560 1,006 1,415 ¥72 26 ¥54 ¥22 ¥276 ¥1,267 ¥179 ¥3,126 2,750 ¥515,559 ¥941 ¥559,292 ¥486 ¥377,219 345 ¥291,310 537 ¥327,484 1,710 ¥1,005,385 5,539 ¥566,266 5,346 ¥1,259,469 ¥22,273 ¥1,267,459 ¥529,510 481,899 1,049 ¥361,170 1,765 ¥236,033 1,570 ¥289,346 962 ¥372,920 445 ¥442,438 ¥596 ¥522,985 623 ¥171,045 ¥22,744 ¥130,990 3,265 ¥267,855 ¥41,592 142,769 ¥225,990 254,226 ¥265,193 352,760 U.S. private assets Total 742,210 1,038,224 782,870 795,161 858,303 1,533,201 1,247,347 2,061,113 2,057,703 599,049 537,649 405,008 524,858 593,598 692,713 718,112 266,476 380,402 460,105 23,208 123,346 ¥7,611 4 Consists of gold, special drawing rights (SDRs), foreign currencies, and the U.S. reserve position in the International Monetary Fund (IMF). Foreign official assets 43,543 42,758 28,059 115,945 278,069 397,755 259,268 487,939 411,058 421,375 130,427 127,303 121,843 108,366 163,270 88,822 13,469 145,497 173,533 145,391 116,078 ¥13,627 Other foreign assets 698,667 995,466 754,811 679,216 580,234 1,135,446 988,079 1,573,174 1,646,645 177,674 407,222 277,705 403,015 485,232 529,443 629,290 253,007 234,905 286,572 ¥122,183 7,268 6,016 Financial derivatives, net Total (sum of the items with sign reversed) .................. .................. .................. .................. .................. .................. .................. 29,710 6,496 .................. 1,633 14,090 15,134 ¥1,147 14,795 ¥1,007 5,942 ¥13,234 ¥8,001 ¥2,519 ¥4,075 .................. 68,421 ¥59,265 ¥14,285 ¥37,770 ¥6,000 95,030 32,313 ¥47,078 ¥41,287 129,275 17,994 16,641 ¥41,784 ¥39,927 ¥67,970 656 71,627 ¥45,600 ¥9,729 62,269 34,706 56,625 Of which: Seasonal adjustment discrepancy .................. .................. .................. .................. .................. .................. .................. .................. .................. .................. 10,054 587 ¥19,426 8,787 12,192 722 ¥21,805 8,892 13,673 223 ¥28,548 14,652 U.S. official reserve assets, net 4 (unadjusted, end of period) 71,516 67,647 68,654 79,006 85,938 86,824 65,127 65,895 70,565 77,648 65,354 67,935 66,217 65,895 66,551 66,127 69,070 70,565 75,764 75,740 71,834 77,648 Sources: Department of Commerce (Bureau of Economic Analysis) and Department of the Treasury. 37 VerDate Nov 24 2008 22:14 Jun 09, 2009 Jkt 050117 PO 00000 Frm 00037 Fmt 3401 Sfmt 3401 E:\HR\OC\ECOIND.037 ECOIND g:\graphics\eecoind.037 U.S.-owned assets abroad, excluding financial derivatives [increase/financial outflow (¥)] 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 hsrobinson on PROD1PC76 with HEARING 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 Nov 24 2008 U.S. GOVERNMENT PRINTING OFFICE : 2009 50–117 22:14 Jun 09, 2009 Jkt 050117 PO 00000 Frm 00038 Fmt 3438 Sfmt 3438 E:\HR\OC\ECOIND.038 ECOIND