Full text of Economic Indicators : November 2010
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111th Congress, 2nd Session Economic Indicators NOVEMBER 2010 (Includes data available as of December 3, 2010) Prepared for the Joint Economic Committee by the Council of Economic Advisers UNITED STATES GOVERNMENT PRINTING OFFICE WASHINGTON : 2010 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 JEFF BINGAMAN, New Mexico AMY KLOBUCHAR, Minnesota ROBERT P. CASEY, Jr., Pennsylvania JIM WEBB, Virginia MARK R. WARNER, Virginia SAM BROWNBACK, Kansas JIM DeMINT, South Carolina JAMES E. RISCH, Idaho ROBERT F. BENNETT, Utah ANDREA CAMP, Executive Director COUNCIL OF ECONOMIC ADVISERS AUSTAN D. GOOLSBEE, Chairman CECILIA E. ROUSE, Member [Public Law 120—81st Congress; Chapter 237—1st Session] JOINT RESOLUTION [S.J. R es. 55] To print the monthly publication entitled “Economic Indicators” Resolved by the Senate and House of Representatives of the United States of America in Congress assembled, That the Joint Economic Committee be authorized to issue a monthly publication entitled “Economic Indicators,” and that a sufficient quantity be printed to furnish one copy to each Member of Congress; the Secretary and the Sergeant at Arms of the Senate; the Clerk, Sergeant at Arms, and Doorkeeper of the House of Representatives; two copies to the libraries of the Senate and House, and the Congressional Library; seven hundred copies to the Joint Economic Committee; and the required numbers of copies to the Superintendent of Documents for distribution to depository libraries; and that the Superintendent of Documents be authorized to have copies printed for sale to the public. Approved June 23, 1949. Charts prepared under the direction of the Printing and Procurement Branch, Office of the Secretary, Department of Commerce. Economic Indicators, published monthly, is available online at: http://www.gpo.gov/economicindicators To subscribe to the print edition, $58.00 per year ($81.20 outside the United States), contact the U.S. Government Printing Office at 202-512-1800, http://www.gpo.gov/economicindicators, or: SUPERINTENDENT OF DOCUMENTS U.S. GOVERNMENT PRINTING OFFICE MAIL STOP: IDCC WASHINGTON, DC 20402-9328 ii TOTAL OUTPUT, INCOME, AND SPENDING Gross Domestic Product In the third quarter of 2010, according to revised estimates, current dollar gross domestic product (GDP) rose 4.8 percent (annual rate), real GDP (GDP in chained 2005 dollars) rose 2.5 percent, and the chained price index rose 2.3 percent. [Billions of current dollars; quarterly data at seasonally adjusted annual rates] Period 2000 �������������������� 2001 �������������������� 2002 �������������������� 2003 �������������������� 2004 �������������������� 2005 �������������������� 2006 �������������������� 2007 �������������������� 2008 �������������������� 2009 �������������������� 2007: I ���������������� II ��������������� III �������������� IV �������������� 2008: I ���������������� II ��������������� III �������������� IV �������������� 2009: I ���������������� II ��������������� III �������������� IV �������������� 2010: I ���������������� II ��������������� III r ������������ Gross domestic product 9,951.5 10,286.2 10,642.3 11,142.1 11,867.8 12,638.4 13,398.9 14,061.8 14,369.1 14,119.0 13,789.5 14,008.2 14,158.2 14,291.3 14,328.4 14,471.8 14,484.9 14,191.2 14,049.7 14,034.5 14,114.7 14,277.3 14,446.4 14,578.7 14,750.2 Personal consumption expenditures Gross private domestic investment 6,830.4 7,148.8 7,439.2 7,804.0 8,285.1 8,819.0 9,322.7 9,806.3 10,104.5 10,001.3 9,632.8 9,753.2 9,850.8 9,988.4 10,065.7 10,183.0 10,202.0 9,967.2 9,913.0 9,920.1 10,040.7 10,131.5 10,230.8 10,285.4 10,383.6 1,772.2 1,661.9 1,647.0 1,729.7 1,968.6 2,172.2 2,327.2 2,295.2 2,096.7 1,589.2 2,277.4 2,329.6 2,313.4 2,260.4 2,198.8 2,170.9 2,111.3 1,905.8 1,640.4 1,530.2 1,548.5 1,637.7 1,739.7 1,841.8 1,895.3 Exports and imports of goods and services Net exports –382.1 –371.0 –427.2 –504.1 –618.7 –722.7 –769.3 –714.0 –710.4 –386.4 –725.1 –730.7 –704.4 –695.7 –738.5 –751.9 –763.1 –588.4 –375.7 –335.2 –408.3 –426.4 –479.9 –539.3 –552.2 Government consumption expenditures and gross investment Federal Exports 1,093.2 1,027.7 1,003.0 1,041.0 1,180.2 1,305.1 1,471.0 1,661.7 1,843.4 1,578.4 1,575.5 1,619.1 1,690.3 1,761.8 1,819.9 1,925.3 1,927.3 1,700.9 1,521.2 1,520.2 1,582.1 1,689.9 1,757.8 1,817.9 1,847.0 1 GDP less exports of goods and services plus imports of goods and services. Imports 1,475.3 1,398.7 1,430.2 1,545.1 1,798.9 2,027.8 2,240.3 2,375.7 2,553.8 1,964.7 2,300.6 2,349.8 2,394.7 2,457.5 2,558.4 2,677.2 2,690.4 2,289.3 1,896.9 1,855.3 1,990.5 2,116.3 2,237.6 2,357.1 2,399.1 Total 1,731.0 1,846.4 1,983.3 2,112.6 2,232.8 2,369.9 2,518.4 2,674.2 2,878.3 2,914.9 2,604.4 2,656.0 2,698.4 2,738.2 2,802.3 2,869.8 2,934.7 2,906.5 2,872.0 2,919.3 2,933.8 2,934.5 2,955.7 2,990.8 3,023.5 Total 576.1 611.7 680.6 756.5 824.6 876.3 931.7 976.3 1,079.9 1,139.6 944.0 968.7 992.1 1,000.6 1,033.4 1,065.2 1,105.5 1,115.4 1,103.2 1,139.8 1,155.4 1,159.9 1,178.1 1,206.7 1,233.9 National defense Nondefense 371.0 393.0 437.7 497.9 550.8 589.0 624.9 662.3 737.3 771.6 637.6 657.0 674.7 679.9 702.1 724.9 762.1 760.2 743.9 769.9 787.3 785.4 796.3 813.0 830.8 205.0 218.7 242.9 258.5 273.9 287.3 306.8 314.0 342.5 368.0 306.4 311.7 317.4 320.7 331.3 340.3 343.4 355.1 359.4 369.8 368.1 374.5 381.8 393.7 403.1 State and local 1,154.9 1,234.7 1,302.7 1,356.1 1,408.2 1,493.6 1,586.7 1,697.9 1,798.5 1,775.3 1,660.3 1,687.3 1,706.4 1,737.6 1,768.9 1,804.6 1,829.2 1,791.2 1,768.8 1,779.5 1,778.4 1,774.7 1,777.6 1,784.1 1,789.6 Final Addendum: Gross sales of Gross domestic domestic purchases 1 national product product 9,896.9 10,324.5 10,630.3 11,125.8 11,802.8 12,588.4 13,339.0 14,032.7 14,410.2 14,246.3 13,772.5 13,960.6 14,118.8 14,278.8 14,342.1 14,495.1 14,514.3 14,289.2 14,191.6 14,214.0 14,258.0 14,321.5 14,396.4 14,498.3 14,623.6 10,333.5 10,657.2 11,069.5 11,646.3 12,486.4 13,361.1 14,168.2 14,775.8 15,079.5 14,505.4 14,514.6 14,738.8 14,862.6 14,987.0 15,066.8 15,223.7 15,248.0 14,779.5 14,425.4 14,369.6 14,523.0 14,703.7 14,926.3 15,118.0 15,302.4 9,989.2 10,338.1 10,691.4 11,210.8 11,959.0 12,735.5 13,471.3 14,185.1 14,543.6 14,265.3 13,859.8 14,087.6 14,302.9 14,489.9 14,520.7 14,647.3 14,689.2 14,317.2 14,172.2 14,164.2 14,281.9 14,442.8 14,637.6 14,774.0 14,940.0 Source: Department of Commerce (Bureau of Economic Analysis). 1 Real Gross Domestic Product [Billions of chained (2005) dollars; quarterly data at seasonally adjusted annual rates] Period 2000 �������������������� 2001 �������������������� 2002 �������������������� 2003 �������������������� 2004 �������������������� 2005 �������������������� 2006 �������������������� 2007 �������������������� 2008 �������������������� 2009 �������������������� 2007: I ���������������� II ��������������� III �������������� IV �������������� 2008: I ���������������� II ��������������� III �������������� IV �������������� 2009: I ���������������� II ��������������� III �������������� IV �������������� 2010: I ���������������� II ��������������� III r ������������ Gross private domestic investment Personal Gross condomestic sumption Nonresi- Resi- Change in product expendi- dential dential fixed fixed private tures investinvest- invenment ment tories 11,226.0 11,347.2 11,553.0 11,840.7 12,263.8 12,638.4 12,976.2 13,228.9 13,228.8 12,880.6 13,089.3 13,194.1 13,268.5 13,363.5 13,339.2 13,359.0 13,223.5 12,993.7 12,832.6 12,810.0 12,860.8 13,019.0 13,138.8 13,194.9 13,277.4 7,608.1 7,813.9 8,021.9 8,247.6 8,532.7 8,819.0 9,073.5 9,289.5 9,265.0 9,153.9 9,235.2 9,270.5 9,310.0 9,342.3 9,324.1 9,326.2 9,243.5 9,166.3 9,154.1 9,117.0 9,161.6 9,182.9 9,225.4 9,275.7 9,340.3 1,318.5 1,281.8 1,180.2 1,191.0 1,263.0 1,347.3 1,453.9 1,552.0 1,556.6 1,290.8 1,499.0 1,539.1 1,574.1 1,595.9 1,603.7 1,597.0 1,561.5 1,464.2 1,313.7 1,288.3 1,282.9 1,278.3 1,302.6 1,355.3 1,388.9 580.0 583.3 613.8 664.3 729.5 775.0 718.2 584.2 444.2 342.7 631.3 611.4 570.6 523.3 482.2 464.4 435.6 394.7 352.7 333.9 342.4 341.7 330.7 350.1 323.1 60.2 –41.8 12.8 17.3 66.3 50.0 59.4 27.7 –37.6 –113.1 17.3 44.9 36.1 12.6 –8.2 –20.6 –27.4 –94.3 –125.8 –161.8 –128.2 –36.7 44.1 68.8 111.5 Exports and imports of goods and services Government consumption expenditures and gross investment Federal Net exports Exports Imports Total –451.6 –472.1 –548.8 –603.9 –688.0 –722.7 –729.2 –654.9 –504.1 –363.0 –696.4 –696.2 –666.6 –560.4 –529.9 –493.8 –514.8 –477.7 –389.2 –342.0 –390.8 –330.1 –338.4 –449.0 –506.7 1,188.3 1,121.6 1,099.2 1,116.8 1,222.8 1,305.1 1,422.0 1,554.4 1,647.7 1,490.7 1,496.4 1,521.3 1,578.0 1,622.0 1,644.7 1,696.6 1,675.0 1,574.5 1,451.6 1,447.8 1,490.0 1,573.5 1,616.4 1,652.1 1,677.5 1,639.9 1,593.8 1,648.0 1,720.7 1,910.8 2,027.8 2,151.2 2,209.3 2,151.7 1,853.8 2,192.7 2,217.5 2,244.6 2,182.4 2,174.6 2,190.4 2,189.8 2,052.2 1,840.8 1,789.9 1,880.8 1,903.6 1,954.8 2,101.1 2,184.2 2,097.8 2,178.3 2,279.6 2,330.5 2,362.0 2,369.9 2,402.1 2,434.2 2,502.7 2,542.6 2,406.7 2,426.8 2,447.9 2,455.3 2,469.2 2,489.4 2,521.5 2,530.7 2,511.5 2,549.3 2,559.3 2,550.3 2,540.2 2,564.9 2,590.1 1 GDP less exports of goods and services plus imports of goods and services. State and local National Nondefense defense Total 698.1 726.5 779.5 831.1 865.0 876.3 894.9 906.1 971.8 1,027.6 883.6 898.9 919.7 922.2 937.6 955.3 987.5 1,006.9 994.1 1,029.2 1,043.5 1,043.6 1,048.4 1,071.5 1,094.5 453.5 470.7 505.3 549.2 580.4 589.0 598.4 611.8 657.7 693.0 595.3 607.3 622.3 622.4 632.7 643.4 673.0 681.6 666.8 693.2 708.3 703.8 704.4 717.1 731.9 244.4 255.5 273.9 281.7 284.6 287.3 296.6 294.2 314.0 334.6 288.2 291.5 297.3 299.8 304.8 311.9 314.2 325.2 327.3 335.9 335.2 339.8 344.0 354.5 362.6 AddenFinal Gross dum: sales of domestic Gross domestic purchases 1 national product product 1,400.1 1,452.3 1,500.6 1,499.7 1,497.1 1,493.6 1,507.2 1,528.1 1,532.6 1,518.8 1,522.9 1,527.8 1,528.4 1,533.3 1,532.2 1,535.1 1,536.2 1,526.8 1,520.1 1,523.8 1,520.0 1,511.2 1,496.8 1,499.1 1,502.0 11,167.5 11,391.7 11,543.5 11,824.8 12,198.2 12,588.4 12,917.1 13,200.0 13,268.1 12,992.8 13,071.1 13,146.4 13,230.4 13,352.2 13,346.2 13,382.4 13,249.6 13,094.1 12,964.2 12,971.4 12,984.5 13,051.1 13,085.5 13,114.7 13,154.5 11,681.4 11,825.7 12,107.7 12,449.2 12,952.5 13,361.1 13,705.7 13,883.9 13,729.4 13,233.6 13,786.2 13,891.2 13,935.8 13,922.4 13,866.9 13,850.1 13,737.2 13,463.3 13,212.6 13,143.7 13,239.8 13,338.2 13,467.6 13,637.7 13,778.2 11,268.8 11,404.6 11,606.9 11,914.2 12,358.5 12,735.5 13,046.1 13,344.4 13,388.7 13,014.7 13,155.8 13,269.0 13,404.4 13,548.5 13,516.8 13,519.7 13,408.7 13,109.5 12,945.5 12,929.4 13,013.8 13,170.1 13,313.0 13,372.7 13,449.8 Source: Department of Commerce (Bureau of Economic Analysis). Note: Because of the formula used for calculating real GDP, the chained (2005) dollar estimates for the detailed components do not add to the chained-dollar value of GDP or to any intermediate aggregates. Chained Price Indexes For Gross Domestic Product [Index numbers, 2005=100; quarterly data are seasonally adjusted] Period 2000 �������������������� 2001 �������������������� 2002 �������������������� 2003 �������������������� 2004 �������������������� 2005 �������������������� 2006 �������������������� 2007 �������������������� 2008 �������������������� 2009 �������������������� 2007: I ���������������� II ��������������� III �������������� IV �������������� 2008: I ���������������� II ��������������� III �������������� IV �������������� 2009: I ���������������� II ��������������� III �������������� IV �������������� 2010: I ���������������� II ��������������� III r ������������ Gross domestic product 88.648 90.654 92.113 94.099 96.769 100.000 103.263 106.301 108.598 109.618 105.366 106.188 106.709 106.940 107.454 108.295 109.488 109.154 109.465 109.555 109.759 109.693 109.959 110.485 111.111 Personal consumption expenditures Total 89.777 91.488 92.736 94.622 97.098 100.000 102.746 105.564 109.061 109.258 104.311 105.212 105.813 106.919 107.954 109.185 110.367 108.736 108.290 108.810 109.598 110.333 110.901 110.888 111.172 Goods Services 97.520 97.429 96.430 96.380 97.867 100.000 101.508 102.946 106.262 103.634 101.626 102.798 102.997 104.362 105.670 106.929 108.807 103.643 102.039 102.974 104.403 105.120 105.784 104.812 105.055 Source: Department of Commerce (Bureau of Economic Analysis). 2 Gross private domestic investment 85.824 88.428 90.807 93.692 96.687 100.000 103.411 106.973 110.566 112.233 105.754 106.510 107.330 108.298 109.191 110.412 111.234 111.428 111.579 111.894 112.355 113.102 113.620 114.116 114.423 Nonresidential fixed 96.219 95.788 95.363 95.355 96.834 100.000 103.534 105.505 106.984 105.700 105.393 105.586 105.499 105.541 105.686 106.248 107.431 108.571 107.726 106.162 104.768 104.144 103.639 103.636 103.662 Residential fixed 77.415 80.994 83.002 86.953 93.296 100.000 106.081 107.613 106.361 102.736 107.793 107.480 107.500 107.681 107.296 107.012 106.268 104.867 104.094 102.503 101.637 102.712 102.869 102.030 101.919 Exports and imports of goods and services Government consumption expenditures and gross investment Federal Exports 91.999 91.627 91.253 93.216 96.517 100.000 103.447 106.902 111.874 105.877 105.319 106.465 107.154 108.672 110.719 113.553 115.137 108.089 104.841 105.031 106.212 107.424 108.771 110.060 110.127 Imports 89.963 87.762 86.784 89.796 94.144 100.000 104.144 107.531 118.685 105.987 104.892 105.936 106.671 112.623 117.728 122.345 122.999 111.669 103.127 103.719 105.879 111.222 114.514 112.234 109.882 Total 82.524 84.201 87.318 91.024 95.335 100.000 104.107 107.753 111.119 110.895 106.849 107.773 107.882 108.509 110.230 111.515 111.958 110.772 110.979 110.743 110.716 111.141 112.375 112.615 112.740 National defense 81.821 83.484 86.624 90.659 94.895 100.000 104.421 108.249 112.109 111.342 107.113 108.191 108.434 109.259 110.975 112.673 113.245 111.544 111.562 111.063 111.153 111.590 113.046 113.377 113.508 Nondefense 83.907 85.612 88.689 91.774 96.234 100.000 103.468 106.743 109.077 109.984 106.321 106.926 106.755 106.969 108.695 109.122 109.294 109.198 109.794 110.096 109.822 110.222 110.997 111.053 111.166 State and local 82.482 85.019 86.810 90.425 94.062 100.000 105.276 111.112 117.349 116.892 109.033 110.445 111.644 113.326 115.451 117.555 119.075 117.313 116.356 116.779 116.998 117.434 118.760 119.014 119.143 Gross Domestic Product and Related Price Measures: Indexes and Percent Changes [Quarterly data are seasonally adjusted] Percent change from preceding period 1 Index numbers, 2005=100 Personal consumption expenditures (PCE) Gross domestic product (GDP) Period Real GDP (chain-type quantity index) GDP chain-type price index GDP implicit price deflator PCE (chain-type price index) PCE less food and energy price index Personal consumption expenditures (PCE) Gross domestic product (GDP) GDP (current dollars) Real GDP (chain-type quantity index) GDP chain-type price index GDP implicit price deflator PCE (chain-type price index) PCE less food and energy price index 2000 ���������������������� 2001 ���������������������� 2002 ���������������������� 2003 ���������������������� 2004 ���������������������� 2005 ���������������������� 2006 ���������������������� 2007 ���������������������� 2008 ���������������������� 2009 ���������������������� 2007: I ������������������ II ����������������� III ���������������� IV ���������������� 2008: I ������������������ II ����������������� III ���������������� IV ���������������� 2009: I ������������������ II ����������������� III ���������������� IV ���������������� 88.825 89.783 91.412 93.688 97.036 100.000 102.673 104.672 104.672 101.917 103.568 104.398 104.985 105.737 105.545 105.702 104.630 102.811 101.537 101.358 101.760 103.012 88.648 90.654 92.113 94.099 96.769 100.000 103.263 106.301 108.598 109.618 105.366 106.188 106.709 106.940 107.454 108.295 109.488 109.154 109.465 109.555 109.759 109.693 88.647 90.650 92.118 94.100 96.770 100.000 103.257 106.296 108.619 109.615 105.349 106.169 106.706 106.943 107.416 108.330 109.539 109.216 109.484 109.558 109.750 109.665 89.777 91.488 92.736 94.622 97.098 100.000 102.746 105.564 109.061 109.258 104.311 105.212 105.813 106.919 107.954 109.185 110.367 108.736 108.290 108.810 109.598 110.333 91.111 92.739 94.345 95.784 97.788 100.000 102.292 104.696 107.151 108.774 103.905 104.344 104.901 105.633 106.301 106.998 107.569 107.735 107.973 108.583 108.990 109.551 6.4 3.4 3.5 4.7 6.5 6.5 6.0 4.9 2.2 –1.7 5.3 6.5 4.4 3.8 1.0 4.1 .4 –7.9 –3.9 –.4 2.3 4.7 4.1 1.1 1.8 2.5 3.6 3.1 2.7 1.9 .0 –2.6 .9 3.2 2.3 2.9 –.7 .6 –4.0 –6.8 –4.9 –.7 1.6 5.0 2.2 2.3 1.6 2.2 2.8 3.3 3.3 2.9 2.2 .9 4.4 3.2 2.0 .9 1.9 3.2 4.5 –1.2 1.1 .3 .7 –.2 2.2 2.3 1.6 2.2 2.8 3.3 3.3 2.9 2.2 .9 4.4 3.2 2.0 .9 1.8 3.4 4.5 –1.2 1.0 .3 .7 –.3 2.5 1.9 1.4 2.0 2.6 3.0 2.7 2.7 3.3 .2 4.0 3.5 2.3 4.2 3.9 4.6 4.4 –5.8 –1.6 1.9 2.9 2.7 1.7 1.8 1.7 1.5 2.1 2.3 2.3 2.4 2.3 1.5 2.9 1.7 2.2 2.8 2.6 2.6 2.2 .6 .9 2.3 1.5 2.1 2010: I ������������������ II ����������������� III r �������������� 103.960 104.403 105.056 109.959 110.485 111.111 109.952 110.488 111.092 110.901 110.888 111.172 109.887 110.171 110.399 4.8 3.7 4.8 3.7 1.7 2.5 1.0 1.9 2.3 1.1 2.0 2.2 2.1 .0 1.0 1.2 1.0 .8 1 Quarterly percent changes are at annual rates. 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] Period Current dollars 2000 �������������������� 2001 �������������������� 2002 �������������������� 2003 �������������������� 2004 �������������������� 2005 �������������������� 2006 �������������������� 2007 �������������������� 2008 �������������������� 2009 �������������������� 2007: I ���������������� II ��������������� III �������������� IV �������������� 2008: I ���������������� II ��������������� III �������������� IV �������������� 2009: I ���������������� II ��������������� III �������������� IV �������������� 2010: I ���������������� II r ������������� III p ������������ 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 5,279.4 5,252.5 5,307.7 5,503.7 5,877.5 6,302.8 6,740.3 6,946.0 6,990.5 6,625.2 6,896.9 6,965.5 6,908.6 7,013.2 6,971.4 6,971.5 7,087.3 6,932.0 6,694.3 6,580.4 6,558.4 6,667.8 6,804.4 6,923.0 6,998.5 Chained (2005) dollars 5,707.9 5,604.6 5,629.3 5,767.4 6,040.4 6,302.8 6,536.5 6,626.5 6,686.4 6,284.3 6,598.8 6,620.3 6,558.8 6,728.0 6,724.4 6,717.5 6,721.9 6,581.9 6,309.3 6,216.4 6,210.3 6,401.0 6,567.6 6,639.4 6,636.7 Total 0.925 .937 .943 .954 .973 1.000 1.031 1.048 1.045 1.054 1.045 1.052 1.053 1.042 1.037 1.038 1.054 1.053 1.061 1.059 1.056 1.042 1.036 1.043 1.055 Compensation of employees (unit labor cost) 0.621 .635 .630 .633 .627 .631 .640 .658 .663 .667 .653 .656 .665 .659 .663 .663 .661 .666 .668 .674 .672 .655 .640 .643 .651 Corporate profits with inventory valuation and capital consumption adjustments 4 Unit nonlabor cost Total 0.222 .236 .237 .237 .234 .243 .250 .264 .274 .282 .259 .261 .269 .267 .269 .273 .274 .281 .288 .285 .279 .274 .268 .265 .266 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. 3 Less subsidies plus business current transfer payments. Consumption of fixed capital 0.103 .113 .116 .116 .115 .118 .123 .127 .131 .140 .126 .126 .129 .127 .128 .130 .132 .136 .142 .142 .140 .136 .132 .131 .132 Net interest Taxes on and production miscellaneous and imports 3 payments 0.085 .088 .092 .095 .097 .101 .102 .102 .102 .107 .102 .102 .103 .101 .101 .102 .102 .104 .106 .108 .106 .106 .104 .104 .104 0.034 .035 .029 .026 .022 .024 .025 .035 .041 .035 .031 .033 .037 .039 .040 .041 .040 .041 .040 .035 .033 .032 .032 .030 .030 Total Taxes on corporate income 0.082 .066 .076 .084 .112 .127 .141 .126 .108 .106 .134 .135 .119 .117 .105 .102 .119 .107 .105 .099 .104 .113 .128 .134 .137 0.030 .020 .017 .023 .031 .043 .047 .044 .034 .027 .047 .046 .043 .042 .037 .038 .037 .024 .025 .025 .026 .032 .040 .043 .045 Profits after tax 5 0.052 .046 .059 .061 .081 .083 .094 .082 .074 .078 .087 .089 .077 .075 .067 .065 .083 .083 .080 .074 .078 .081 .088 .091 .091 4 Unit profits from current production. 5 With inventory valuation and capital consumption adjustments. Source: Department of Commerce (Bureau of Economic Analysis). 3 National Income [Billions of dollars; quarterly data at seasonally adjusted annual rates] Proprietors’ income 1 Period 2000 �������������������� 2001 �������������������� 2002 �������������������� 2003 �������������������� 2004 �������������������� 2005 �������������������� 2006 �������������������� 2007 �������������������� 2008 �������������������� 2009 �������������������� 2007: I ���������������� II ��������������� III �������������� IV �������������� 2008: I ���������������� II ��������������� III �������������� IV �������������� 2009: I ���������������� II ��������������� III �������������� IV �������������� 2010: I ���������������� II r ������������� III r ������������ ComNational pensation of income employees 8,938.9 9,185.2 9,408.5 9,840.2 10,534.0 11,273.8 12,031.2 12,396.4 12,557.8 12,225.0 12,261.4 12,360.9 12,407.1 12,556.3 12,628.0 12,619.9 12,686.4 12,296.9 12,150.3 12,129.7 12,204.8 12,415.5 12,621.0 12,782.6 12,902.6 5,788.8 5,979.3 6,110.8 6,382.6 6,693.4 7,065.0 7,477.0 7,855.9 8,060.8 7,811.7 7,756.4 7,814.4 7,868.5 7,984.3 8,082.2 8,077.3 8,082.9 8,000.7 7,797.7 7,819.0 7,798.7 7,831.4 7,858.1 7,969.9 8,032.4 Rental income of persons with capital conNonfarm sumption adjustment Farm 29.6 30.5 18.5 36.5 49.7 43.9 29.3 37.8 50.8 30.5 36.2 34.1 35.0 45.9 60.7 52.7 50.5 39.5 29.6 28.0 28.0 36.2 36.8 38.9 47.4 787.8 840.2 871.8 894.1 984.1 1,025.9 1,103.6 1,052.6 1,051.2 981.5 1,066.8 1,056.0 1,044.3 1,043.3 1,046.6 1,063.4 1,061.1 1,033.5 989.0 972.5 978.4 985.9 994.0 1,010.8 1,010.2 215.3 232.4 218.7 204.2 198.4 178.2 146.5 143.7 222.0 274.0 122.4 139.8 146.8 165.9 182.4 206.0 237.1 262.6 264.7 269.4 279.1 282.8 292.7 298.8 304.7 Corporate profits with inventory valuation and capital consumption adjustments Net interest and Capital miscelconsumption laneous Inventory adjust- payments valuation ment adjustment Taxes on production and imports Profits with inventory valuation adjustment and without capital consumption adjustment Total 819.2 784.2 872.2 977.8 1,246.9 1,456.1 1,608.3 1,510.6 1,262.8 1,258.0 1,515.5 1,565.3 1,501.0 1,460.8 1,376.3 1,329.0 1,350.8 995.0 1,138.2 1,178.0 1,297.5 1,418.2 1,566.6 1,614.1 1,658.5 Total Profits before tax 755.7 720.8 762.8 892.2 1,195.1 1,609.5 1,784.7 1,691.1 1,289.1 1,328.6 1,688.3 1,748.7 1,686.0 1,641.5 1,406.1 1,353.3 1,376.0 1,021.0 1,223.0 1,249.8 1,360.5 1,481.2 1,736.5 1,784.7 1,827.8 772.5 712.7 765.3 903.5 1,229.4 1,640.2 1,822.7 1,738.4 1,333.2 1,316.7 1,738.6 1,783.5 1,715.1 1,716.3 1,534.8 1,493.3 1,442.7 861.9 1,130.0 1,219.2 1,369.2 1,548.4 1,772.9 1,788.2 1,864.5 1 With inventory valuation and capital consumption adjustments. –16.8 8.0 –2.6 –11.3 –34.3 –30.7 –38.0 –47.2 –44.1 11.9 –50.3 –34.8 –29.1 –74.8 –128.7 –140.0 –66.7 159.1 93.0 30.6 –8.7 –67.2 –36.4 –3.5 –36.7 63.6 63.4 109.4 85.6 51.8 –153.4 –176.4 –180.5 –26.3 –70.6 –172.8 –183.3 –185.1 –180.7 –29.8 –24.3 –25.2 –26.1 –84.8 –71.8 –63.0 –63.0 –169.9 –170.7 –169.3 539.3 544.4 506.4 504.1 461.6 543.0 652.2 731.6 812.8 784.3 703.9 693.7 743.3 785.6 787.4 794.3 804.7 864.9 847.4 773.4 750.7 765.6 765.9 736.2 728.4 Business Less: current Subsidies transfer payments 708.6 727.7 762.8 806.8 863.4 930.2 986.8 1,027.2 1,045.1 1,024.7 1,014.7 1,023.9 1,030.7 1,039.4 1,041.7 1,051.9 1,052.6 1,034.3 1,016.7 1,018.7 1,028.2 1,035.2 1,045.9 1,054.6 1,060.6 45.8 58.7 41.4 49.1 46.4 60.9 51.4 54.6 52.8 60.3 50.0 58.1 55.7 54.5 51.7 51.8 52.4 55.2 56.8 57.2 69.1 58.4 57.4 58.5 58.5 87.0 101.3 82.4 76.1 81.7 95.9 83.0 103.3 121.7 134.0 105.6 102.9 104.4 100.4 118.4 114.0 115.7 138.8 139.7 141.8 124.9 129.8 130.5 130.8 133.1 Current surplus of government enterprises 9.1 4.0 6.3 7.0 1.2 –3.5 –4.2 –11.8 –16.7 –13.2 –10.1 –11.0 –11.2 –14.8 –16.0 –17.0 –16.5 –17.3 –15.8 –14.2 –11.7 –11.3 –12.1 –13.1 –14.1 Source: Department of Commerce (Bureau of Economic Analysis). Real Personal Consumption Expenditures [Billions of chained (2005) dollars, except as noted; quarterly data at seasonally adjusted annual rates] Goods Period 2000 �������������������� 2001 �������������������� 2002 �������������������� 2003 �������������������� 2004 �������������������� 2005 �������������������� 2006 �������������������� 2007 �������������������� 2008 �������������������� 2009 �������������������� 2007: I ���������������� II ��������������� III �������������� IV �������������� 2008: I ���������������� II ��������������� III �������������� IV �������������� 2009: I ���������������� II ��������������� III �������������� IV �������������� 2010: I ���������������� II ��������������� III r ������������ Total personal consumption expenditures 7,608.1 7,813.9 8,021.9 8,247.6 8,532.7 8,819.0 9,073.5 9,289.5 9,265.0 9,153.9 9,235.2 9,270.5 9,310.0 9,342.3 9,324.1 9,326.2 9,243.5 9,166.3 9,154.1 9,117.0 9,161.6 9,182.9 9,225.4 9,275.7 9,340.3 Services Durable Total goods 2,521.7 2,600.9 2,706.6 2,829.9 2,955.3 3,073.9 3,173.9 3,261.6 3,180.3 3,117.4 3,241.1 3,252.4 3,271.9 3,281.0 3,232.6 3,235.2 3,171.4 3,082.3 3,095.7 3,084.0 3,138.2 3,151.8 3,195.4 3,222.6 3,250.6 Total durable goods 1 819.9 864.4 930.0 986.1 1,051.0 1,105.5 1,150.4 1,198.6 1,136.4 1,094.6 1,181.2 1,194.5 1,205.7 1,212.9 1,178.6 1,170.0 1,133.2 1,063.9 1,076.6 1,068.2 1,118.3 1,115.1 1,138.9 1,157.8 1,178.6 Nondurable Motor vehicles and parts 356.1 374.3 394.0 405.3 411.3 409.6 396.6 403.9 348.2 324.0 401.6 407.4 404.4 402.0 383.0 362.1 339.8 307.9 317.1 313.5 342.7 322.7 320.6 326.0 330.4 Total nondurable goods 1 1,714.7 1,745.6 1,780.2 1,845.6 1,904.6 1,968.4 2,023.6 2,064.3 2,041.2 2,017.4 2,060.2 2,059.0 2,067.7 2,070.3 2,054.5 2,064.6 2,035.6 2,010.1 2,012.0 2,008.3 2,016.9 2,032.3 2,053.5 2,063.4 2,072.4 Food and beverages purchased for offpremises consumption Gasoline and other energy goods Total services 1 Household consumption expenditures 600.6 607.6 609.0 622.4 639.2 665.0 686.2 697.5 691.6 685.1 697.3 693.5 696.4 702.7 700.3 699.8 691.2 675.1 675.2 681.2 687.8 696.3 702.7 697.6 702.3 287.1 289.2 294.0 302.2 306.5 304.8 298.4 295.9 282.0 285.5 298.4 296.4 296.1 292.8 287.2 284.0 274.7 282.2 287.0 286.5 285.1 283.5 284.0 286.1 284.1 5,093.3 5,218.7 5,318.1 5,418.4 5,577.6 5,745.1 5,899.7 6,028.3 6,082.3 6,032.7 5,994.4 6,018.3 6,038.7 6,061.7 6,090.6 6,090.2 6,070.0 6,078.5 6,053.6 6,027.7 6,020.7 6,028.7 6,029.6 6,053.4 6,090.5 4,917.8 5,028.8 5,109.3 5,199.0 5,359.3 5,531.0 5,664.4 5,783.2 5,816.1 5,777.0 5,753.7 5,780.8 5,792.4 5,805.9 5,830.2 5,828.5 5,802.1 5,803.6 5,793.5 5,778.4 5,766.5 5,769.7 5,769.9 5,791.7 5,826.4 1 Includes other items, not shown separately. 2 Food consists of food and beverages purchased for off-premises consumption; food services, which include purchased meals and beverages, are not classified as food. Housing and utilities 1,413.7 1,451.5 1,462.0 1,480.2 1,512.8 1,582.8 1,616.7 1,626.4 1,638.6 1,656.9 1,625.8 1,624.8 1,628.6 1,626.2 1,636.3 1,637.6 1,630.9 1,649.7 1,650.1 1,652.0 1,659.4 1,666.3 1,664.3 1,668.9 1,682.7 Health care 1,081.5 1,135.4 1,202.3 1,229.4 1,268.6 1,316.0 1,340.0 1,371.6 1,410.0 1,440.4 1,362.9 1,368.2 1,372.9 1,382.3 1,401.5 1,411.0 1,410.1 1,417.4 1,430.0 1,442.1 1,441.6 1,447.9 1,446.7 1,457.6 1,467.7 Financial services and insurance 665.4 660.7 658.3 657.8 691.8 712.6 735.4 766.4 770.9 743.0 755.9 765.7 769.8 774.2 774.9 772.1 772.8 763.9 753.9 746.2 739.4 732.5 727.4 729.5 725.3 Retail sales of new passenger cars and light trucks (millions of units) 6,548.6 6,745.7 6,941.9 7,142.0 7,402.6 7,658.8 7,905.7 8,111.1 8,114.2 8,002.9 8,053.7 8,095.1 8,129.8 8,165.7 8,152.0 8,162.9 8,113.7 8,028.2 8,015.2 7,973.7 8,007.1 8,015.4 8,055.2 8,106.8 8,157.3 17.3 17.1 16.8 16.6 16.9 16.9 16.5 16.1 13.2 10.4 16.4 16.1 15.9 16.0 15.3 14.2 12.9 10.4 9.6 9.7 11.6 10.8 11.0 11.3 11.6 Note: Because of the formula used for calculating real GDP, the chained (2005) dollar estimate 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). 4 Addendum: Personal consumption expenditures excluding food and energy 2 Sources of Personal Income Personal income rose $57.6 billion (annual rate) in October, following a decrease of $2.8 billion in September. Wages and salaries rose $35.6 billion in October, following an increase of $3.5 billion in September. [Billions of dollars; monthly data at seasonally adjusted annual rates] Compensation of employees, received Period 2000 �������������������� 2001 �������������������� 2002 �������������������� 2003 �������������������� 2004 �������������������� 2005 �������������������� 2006 �������������������� 2007 �������������������� 2008 �������������������� 2009 �������������������� 2009: Oct ����������� Nov ���������� Dec ����������� 2010: Jan ����������� Feb ����������� Mar ���������� Apr r ��������� May r �������� June r ������� July r �������� Aug r ��������� Sept r �������� Oct p ��������� Total personal income 8,559.4 8,883.3 9,060.1 9,378.1 9,937.2 10,485.9 11,268.1 11,912.3 12,391.1 12,174.9 12,178.7 12,237.4 12,300.7 12,324.3 12,337.2 12,389.4 12,478.5 12,532.8 12,540.0 12,559.8 12,622.1 12,619.3 12,676.9 Total 5,788.8 5,979.3 6,110.8 6,367.6 6,708.4 7,060.0 7,475.7 7,862.2 8,065.8 7,806.7 7,813.1 7,838.7 7,842.4 7,855.0 7,851.0 7,868.3 7,939.1 7,985.8 7,984.8 8,013.4 8,038.7 8,045.0 8,085.7 Wage and salary disbursements 4,827.7 4,952.2 4,997.3 5,139.6 5,425.7 5,701.0 6,068.9 6,421.7 6,559.0 6,274.1 6,272.1 6,291.2 6,291.5 6,291.3 6,284.8 6,298.1 6,362.4 6,403.7 6,400.4 6,425.1 6,446.0 6,449.5 6,485.1 1 With inventory valuation and capital consumption adjustments. 2 With capital consumption adjustment. 3 Consists mainly of social insurance benefits to persons. Supplements to wages and salaries 961.2 1,027.1 1,113.5 1,228.0 1,282.7 1,359.1 1,406.9 1,440.4 1,506.8 1,532.6 1,541.1 1,547.5 1,550.9 1,563.7 1,566.1 1,570.2 1,576.7 1,582.1 1,584.4 1,588.3 1,592.7 1,595.5 1,600.6 Proprietors’ income 1 Farm 29.6 30.5 18.5 36.5 49.7 43.9 29.3 37.8 50.8 30.5 34.0 36.7 38.0 37.4 36.8 36.2 37.6 38.9 40.3 43.9 47.4 51.0 56.3 Nonfarm 787.8 840.2 871.8 894.1 984.1 1,025.9 1,103.6 1,052.6 1,051.2 981.5 981.8 988.5 987.3 989.7 991.2 1,001.0 1,011.6 1,012.7 1,008.0 1,005.3 1,011.9 1,013.2 1,017.7 Personal income receipts on assets Rental income of persons 2 215.3 232.4 218.7 204.2 198.4 178.2 146.5 143.7 222.0 274.0 283.0 283.0 282.3 287.4 292.5 298.0 298.1 298.8 299.6 301.7 304.5 308.0 309.6 Total 1,360.7 1,346.0 1,309.6 1,312.9 1,408.5 1,542.0 1,829.7 2,057.0 2,109.3 1,919.7 1,870.7 1,880.8 1,915.9 1,913.3 1,916.1 1,903.8 1,911.1 1,915.0 1,917.3 1,907.5 1,897.8 1,892.9 1,899.8 Personal interest income 984.2 976.5 911.9 889.8 860.2 987.0 1,127.5 1,265.1 1,314.7 1,222.3 1,197.0 1,203.7 1,216.6 1,212.6 1,208.7 1,204.7 1,205.0 1,205.3 1,205.6 1,194.8 1,184.1 1,173.4 1,184.9 Personal dividend income 376.5 369.5 397.7 423.1 548.3 555.0 702.2 791.9 794.6 697.4 673.7 677.1 699.3 700.7 707.4 699.0 706.0 709.7 711.8 712.7 713.7 719.5 714.9 Personal current transfer receipts 3 1,083.0 1,188.1 1,282.1 1,341.7 1,415.5 1,508.6 1,605.0 1,718.5 1,879.2 2,132.8 2,168.6 2,185.7 2,210.5 2,228.7 2,236.3 2,271.4 2,279.0 2,285.4 2,293.8 2,295.2 2,332.5 2,320.4 2,323.7 Less: Contributions for government social insurance, domestic 705.8 733.2 751.5 778.9 827.3 872.7 921.8 959.5 987.2 970.3 972.5 976.0 975.8 987.3 986.7 989.3 998.0 1,003.9 1,003.9 1,007.2 1,010.7 1,011.3 1,016.0 Source: Department of Commerce (Bureau of Economic Analysis). 5 Disposition of Personal Income According to revised estimates, per capita disposable personal income in chained (2005) dollars was unchanged in the third quarter of 2010. Period Personal income Less: Personal current taxes Equals: Disposable personal income Less: Personal outlays 1 Equals: Personal saving Disposable personal income in billions of chained (2005) dollars Current dollars Billions of dollars 2000 �������������������� 2001 �������������������� 2002 �������������������� 2003 �������������������� 2004 �������������������� 2005 �������������������� 2006 �������������������� 2007 �������������������� 2008 �������������������� 2009 �������������������� 8,559.4 8,883.3 9,060.1 9,378.1 9,937.2 10,485.9 11,268.1 11,912.3 12,391.1 12,174.9 1,232.3 1,234.8 1,050.4 1,000.3 1,047.8 1,208.6 1,352.4 1,488.7 1,438.2 1,140.0 7,327.2 7,648.5 8,009.7 8,377.8 8,889.4 9,277.3 9,915.7 10,423.6 10,952.9 11,034.9 Per capita personal consumption expenditures Per capita disposable personal income Chained (2005) dollars Current dollars Chained (2005) dollars Dollars 7,114.1 7,443.5 7,727.5 8,088.0 8,585.7 9,149.6 9,680.7 10,208.9 10,505.0 10,379.6 213.1 204.9 282.2 289.8 303.7 127.7 235.0 214.7 447.9 655.3 8,161.5 8,360.1 8,637.1 8,853.9 9,155.1 9,277.3 9,650.7 9,874.2 10,042.9 10,099.8 25,944 26,805 27,799 28,805 30,287 31,318 33,157 34,512 35,931 35,888 Percent Saving change as in real percent per capita of disposable disposable personal personal income income Population, including Armed Forces overseas (thousands) 2 Percent 28,899 29,299 29,976 30,442 31,193 31,318 32,271 32,693 32,946 32,847 24,185 25,054 25,819 26,832 28,228 29,771 31,174 32,469 33,148 32,526 26,939 27,385 27,841 28,357 29,072 29,771 30,341 30,757 30,394 29,770 3.9 1.4 2.3 1.6 2.5 .4 3.0 1.3 .8 –.3 2.9 2.7 3.5 3.5 3.4 1.4 2.4 2.1 4.1 5.9 282,418 285,335 288,133 290,845 293,502 296,229 299,052 302,025 304,831 307,483 32,674 32,644 32,681 32,775 32,821 33,480 32,672 32,810 32,780 33,191 32,746 32,673 32,717 33,100 33,096 32,012 32,336 32,575 32,947 33,132 33,448 33,430 32,584 32,343 32,302 32,619 32,839 33,097 33,208 33,448 30,691 30,736 30,786 30,816 30,690 30,634 30,289 29,966 29,867 29,687 29,763 29,764 29,844 29,948 30,087 0.8 –.4 .5 1.2 .6 8.3 –9.3 1.7 –.4 5.1 –5.3 –.9 .5 4.8 .0 2.3 2.0 1.8 2.1 2.7 4.8 3.6 5.2 5.4 7.2 5.6 5.5 5.5 6.2 5.8 300,913 301,617 302,406 303,166 303,810 304,445 305,177 305,890 306,496 307,101 307,815 308,521 309,120 309,724 310,438 Seasonally adjusted annual rates 2007: I ���������������� II ��������������� III �������������� IV �������������� 2008: I ���������������� II ��������������� III �������������� IV �������������� 2009: I ���������������� II ��������������� III �������������� IV �������������� 2010: I ���������������� II r ������������� III r ������������ 11,714.3 11,839.0 11,954.4 12,141.4 12,300.4 12,460.9 12,447.0 12,356.3 12,093.2 12,203.4 12,164.0 12,239.0 12,350.3 12,517.1 12,600.4 1,458.7 1,480.4 1,497.5 1,518.0 1,535.8 1,331.6 1,442.4 1,443.0 1,213.4 1,112.5 1,117.0 1,117.2 1,134.7 1,149.1 1,178.6 10,255.5 10,358.6 10,456.9 10,623.4 10,764.6 11,129.2 11,004.7 10,913.3 10,879.8 11,090.9 11,047.0 11,121.7 11,215.6 11,368.0 11,421.8 10,014.9 10,153.8 10,267.2 10,399.7 10,475.2 10,591.6 10,608.0 10,345.3 10,291.6 10,297.4 10,423.6 10,505.7 10,603.9 10,663.7 10,755.5 240.6 204.8 189.7 223.7 289.3 537.7 396.7 568.0 588.2 793.5 623.4 616.0 611.8 704.3 666.3 9,832.1 9,845.9 9,882.8 9,936.1 9,971.4 10,192.8 9,970.8 10,036.3 10,046.9 10,193.0 10,079.7 10,080.4 10,113.3 10,251.9 10,274.2 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. 6 34,081 34,344 34,579 35,042 35,432 36,556 36,060 35,677 35,497 36,115 35,888 36,049 36,282 36,704 36,792 Source: Department of Commerce (Bureau of Economic Analysis and Bureau of the Census). Farm Income According to the revised forecast for 2010, gross farm income is forecast at $368.2 billion, and net farm income at $81.6 billion. [Billions of dollars; quarterly data at seasonally adjusted annual rates] Income of farm operators from farming Gross farm income Period Cash marketing receipts Total 1 2001 ��������������������������������������������������� 2002 ��������������������������������������������������� 2003 ��������������������������������������������������� 2004 ��������������������������������������������������� 2005 ��������������������������������������������������� 2006 ��������������������������������������������������� 2007 ��������������������������������������������������� 2008 ��������������������������������������������������� 2009 ��������������������������������������������������� 2010 r ������������������������������������������������� 2008: I ����������������������������������������������� II ���������������������������������������������� III ��������������������������������������������� IV ��������������������������������������������� 2009: I ����������������������������������������������� II ���������������������������������������������� III ��������������������������������������������� IV ��������������������������������������������� 2010: I r ��������������������������������������������� II r �������������������������������������������� III r ������������������������������������������� IV r ������������������������������������������� 249.9 230.6 258.6 294.7 298.4 290.2 339.5 379.6 343.2 368.2 419.4 377.2 367.5 354.1 371.7 354.8 315.5 330.8 367.4 339.3 368.3 397.7 Livestock and products Total 200.0 194.6 216.1 238.0 241.0 240.6 288.5 318.3 283.4 312.9 342.6 323.0 314.0 293.8 297.6 299.9 265.7 270.4 301.6 294.4 319.3 336.3 106.7 93.9 105.7 123.5 124.9 118.5 138.5 141.5 119.8 139.8 143.4 142.5 141.1 139.2 120.2 120.0 120.7 118.2 132.8 136.0 146.3 144.3 1 Cash marketing receipts, Government payments, value of changes in inventories, other farm related cash income, and nonmoney income produced by farms including imputed rent of operator residences. 2 Crop receipts include proceeds received from commodities placed under the Commodity Credit Corporation loans. Crops 2 93.4 100.7 110.5 114.5 116.1 122.1 150.1 176.8 163.7 173.1 199.2 180.5 172.9 154.6 177.4 180.0 145.0 152.2 168.8 158.4 173.0 192.0 Value of inventory changes 3 1.1 –3.5 –2.7 11.2 –.4 –3.1 .6 6.6 4.5 –.1 7.1 6.7 6.5 6.1 4.7 4.7 4.2 4.2 –.1 –.1 –.1 –.1 Direct Government payments 4 22.4 12.4 16.5 13.0 24.4 15.8 11.9 12.2 12.3 12.4 24.1 4.5 5.2 15.1 24.2 4.5 5.2 15.1 24.5 4.6 5.3 15.4 Production expenses 195.0 191.4 197.7 207.3 219.7 232.7 269.2 293.0 281.0 286.6 315.3 297.3 289.0 270.3 295.1 297.4 263.5 268.1 276.2 269.6 292.4 308.0 Net farm income 54.9 39.1 60.9 87.3 78.7 57.4 70.3 86.6 62.2 81.6 104.1 80.0 78.6 83.7 76.6 57.4 52.0 62.8 91.1 69.6 75.8 89.7 3 Physical changes in beginning and ending year inventories of crop and livestock commodities valued at weighted average market prices during the period. 4 Includes only Government payments made directly to farmers. Note: Data for 2010 are forecasts. Source: Department of Agriculture. 7 Corporate Profits In the third quarter of 2010, according to current estimates, corporate profits before tax rose $76.3 billion (annual rate) and profits after tax rose $44.5 billion. [Billions of dollars; quarterly data at seasonally adjusted annual rates] Profits (before tax) with inventory valuation adjustment 1 Profits after tax Domestic industries Period 2000 �������������������� 2001 �������������������� 2002 �������������������� 2003 �������������������� 2004 �������������������� 2005 �������������������� 2006 �������������������� 2007 �������������������� 2008 �������������������� 2009 �������������������� 2007: I ���������������� II ��������������� III �������������� IV �������������� 2008: I ���������������� II ��������������� III �������������� IV �������������� 2009: I ���������������� II ��������������� III �������������� IV �������������� 2010: I ���������������� II ��������������� III p ������������ Total 2 755.7 720.8 762.8 892.2 1,195.1 1,609.5 1,784.7 1,691.1 1,289.1 1,328.6 1,688.3 1,748.7 1,686.0 1,641.5 1,406.1 1,353.3 1,376.0 1,021.0 1,223.0 1,249.8 1,360.5 1,481.2 1,736.5 1,784.7 1,827.8 Nonfinancial Total 610.0 551.1 604.9 726.4 990.1 1,370.0 1,527.8 1,340.2 877.8 976.3 1,400.3 1,436.2 1,312.2 1,212.4 976.0 941.1 931.8 662.5 873.8 916.6 996.2 1,118.6 1,348.0 1,393.4 1,444.1 Financial 189.6 228.0 265.2 311.8 362.3 443.6 448.0 345.5 139.9 258.0 364.0 379.9 366.3 271.8 253.5 242.5 116.5 –52.7 141.6 243.4 300.2 346.7 362.7 359.4 392.5 Total 3 Manufacturing Utilities Wholesale Taxes on corporate income Total Net dividends Retail 420.4 143.9 25.6 58.7 60.7 323.1 49.7 25.2 51.3 72.6 339.7 47.7 12.3 49.1 81.6 414.6 69.4 12.4 54.8 88.9 627.8 154.1 19.4 75.6 93.4 926.4 247.2 29.8 92.2 122.6 1,079.9 304.5 54.4 103.7 133.2 994.7 271.3 50.3 99.9 117.8 737.9 183.7 28.3 84.0 75.0 718.4 150.9 30.0 80.4 99.0 1,036.3 289.5 54.7 105.1 121.0 1,056.3 303.2 50.6 108.9 131.1 945.8 229.8 57.3 104.7 114.1 940.6 262.7 38.6 80.9 105.0 722.5 196.7 15.6 58.1 71.2 698.6 161.6 –18.0 65.4 74.0 815.3 211.2 66.0 88.2 74.2 715.2 165.2 49.6 124.5 80.4 732.3 141.0 37.7 103.9 97.7 673.2 139.7 33.4 73.8 99.7 696.0 151.8 22.4 70.8 101.3 771.9 170.9 26.4 73.0 97.1 985.3 250.4 41.5 91.5 129.1 1,034.0 277.1 32.8 107.7 126.7 1,051.6 ��������������� ��������������� ��������������� ��������������� 1 See p. 4 for profits with inventory valuation and capital consumption adjustments. 2 Includes rest of the world, not shown separately. 3 Includes industries not shown separately. 8 Profits before tax 772.5 712.7 765.3 903.5 1,229.4 1,640.2 1,822.7 1,738.4 1,333.2 1,316.7 1,738.6 1,783.5 1,715.1 1,716.3 1,534.8 1,493.3 1,442.7 861.9 1,130.0 1,219.2 1,369.2 1,548.4 1,772.9 1,788.2 1,864.5 265.1 203.3 192.3 243.8 306.1 412.4 473.3 445.5 308.4 254.9 474.1 467.9 431.0 408.8 356.7 343.0 313.3 220.4 222.0 222.8 255.7 319.1 403.2 405.6 437.4 507.4 509.4 573.0 659.7 923.3 1,227.8 1,349.5 1,292.9 1,024.8 1,061.8 1,264.4 1,315.6 1,284.1 1,307.5 1,178.1 1,150.4 1,129.4 641.5 908.0 996.5 1,113.5 1,229.3 1,369.7 1,382.6 1,427.1 377.9 370.9 399.3 424.9 550.3 557.3 704.8 794.5 797.7 718.9 756.5 804.4 809.7 807.4 812.7 802.1 798.4 777.5 747.8 719.7 699.6 708.5 720.3 728.4 736.6 Inventory Undistrib- valuation adjustment uted profits 129.5 138.5 173.8 234.8 373.0 670.5 644.7 498.4 227.2 342.9 508.0 511.2 474.3 500.1 365.4 348.3 331.0 –135.9 160.2 276.7 413.9 520.8 649.4 654.2 690.5 –16.8 8.0 –2.6 –11.3 –34.3 –30.7 –38.0 –47.2 –44.1 11.9 –50.3 –34.8 –29.1 –74.8 –128.7 –140.0 –66.7 159.1 93.0 30.6 –8.7 –67.2 –36.4 –3.5 –36.7 Note: Data by industry are based on the North American Industry Classification System (NAICS). Source: Department of Commerce (Bureau of Economic Analysis). Real Gross Private Domestic Investment In the third quarter of 2010, according to revised estimates, nonresidential fixed investment in chained (2005) dollars rose $33.6 billion (annual rate) and residential investment fell $27.0 billion. Inventories increased $111.5 billion, following an increase of $68.8 billion in the second quarter. [Billions of chained (2005) dollars; quarterly data at seasonally adjusted annual rates] Fixed investment Period 2000 ��������������������������������������������������� 2001 ��������������������������������������������������� 2002 ��������������������������������������������������� 2003 ��������������������������������������������������� 2004 ��������������������������������������������������� 2005 ��������������������������������������������������� 2006 ��������������������������������������������������� 2007 ��������������������������������������������������� 2008 ��������������������������������������������������� 2009 ��������������������������������������������������� 2007: I ����������������������������������������������� II ���������������������������������������������� III ��������������������������������������������� IV ��������������������������������������������� 2008: I ����������������������������������������������� II ���������������������������������������������� III ��������������������������������������������� IV ��������������������������������������������� 2009: I ����������������������������������������������� II ���������������������������������������������� III ��������������������������������������������� IV ��������������������������������������������� 2010: I ����������������������������������������������� II ���������������������������������������������� III r ������������������������������������������� Gross private domestic investment 1,970.3 1,831.9 1,807.0 1,871.6 2,058.2 2,172.2 2,230.4 2,161.6 1,957.3 1,515.7 2,146.1 2,195.1 2,178.9 2,126.1 2,074.3 2,033.8 1,967.2 1,753.8 1,529.5 1,453.2 1,494.5 1,585.7 1,690.2 1,791.5 1,844.7 Change in private inventories Nonresidential Total 1,913.8 1,877.6 1,798.1 1,856.2 1,992.5 2,122.3 2,171.3 2,132.7 1,997.0 1,630.7 2,127.7 2,147.2 2,140.8 2,114.9 2,081.6 2,057.3 1,993.3 1,855.6 1,663.4 1,619.6 1,622.4 1,617.1 1,630.5 1,702.5 1,709.5 Total 1,318.5 1,281.8 1,180.2 1,191.0 1,263.0 1,347.3 1,453.9 1,552.0 1,556.6 1,290.8 1,499.0 1,539.1 1,574.1 1,595.9 1,603.7 1,597.0 1,561.5 1,464.2 1,313.7 1,288.3 1,282.9 1,278.3 1,302.6 1,355.3 1,388.9 Note: See p. 10 for further detail on fixed investment by type. Because of the formula used for calculating real GDP, the chained (2005) dollar estimates for the detailed components do not add to the chained-dollar value of GDP or to any intermediate aggregates. Structures 440.0 433.3 356.6 343.0 346.7 351.8 384.0 438.2 464.2 369.6 404.8 430.6 454.6 462.9 462.7 471.2 466.9 456.1 399.7 377.8 365.5 335.3 319.3 318.9 314.2 Equipment and software 895.8 866.9 830.3 851.4 917.3 995.6 1,069.6 1,109.0 1,082.0 916.3 1,093.0 1,104.6 1,112.6 1,125.7 1,134.0 1,116.5 1,084.1 993.3 903.4 903.8 913.1 944.7 989.7 1,046.0 1,087.3 Residential 580.0 583.3 613.8 664.3 729.5 775.0 718.2 584.2 444.2 342.7 631.3 611.4 570.6 523.3 482.2 464.4 435.6 394.7 352.7 333.9 342.4 341.7 330.7 350.1 323.1 Total 60.2 –41.8 12.8 17.3 66.3 50.0 59.4 27.7 –37.6 –113.1 17.3 44.9 36.1 12.6 –8.2 –20.6 –27.4 –94.3 –125.8 –161.8 –128.2 –36.7 44.1 68.8 111.5 Nonfarm 61.2 –41.5 15.6 17.2 58.3 49.8 63.2 28.7 –39.0 –116.9 12.0 50.3 38.9 13.7 .2 –25.6 –29.4 –101.1 –128.6 –168.5 –127.7 –43.0 36.5 61.0 106.0 Source: Department of Commerce (Bureau of Economic Analysis). 9 Real Private Fixed Investment by Type [Billions of chained (2005) dollars; quarterly data at seasonally adjusted annual rates] Nonresidential Equipment and software Total fixed investment Period 2000 ������������ 2001 ������������ 2002 ������������ 2003 ������������ 2004 ������������ 2005 ������������ 2006 ������������ 2007 ������������ 2008 ������������ 2009 ������������ 2007: I �������� II ������� III ������ IV ������ 2008: I �������� II ������� III ������ IV ������ 2009: I �������� II ������� III ������ IV ������ 2010: I �������� II ������� III r ���� Residential Total nonresidential 1,913.8 1,877.6 1,798.1 1,856.2 1,992.5 2,122.3 2,171.3 2,132.7 1,997.0 1,630.7 2,127.7 2,147.2 2,140.8 2,114.9 2,081.6 2,057.3 1,993.3 1,855.6 1,663.4 1,619.6 1,622.4 1,617.1 1,630.5 1,702.5 1,709.5 1,318.5 1,281.8 1,180.2 1,191.0 1,263.0 1,347.3 1,453.9 1,552.0 1,556.6 1,290.8 1,499.0 1,539.1 1,574.1 1,595.9 1,603.7 1,597.0 1,561.5 1,464.2 1,313.7 1,288.3 1,282.9 1,278.3 1,302.6 1,355.3 1,388.9 Information processing equipment and software Structures 440.0 433.3 356.6 343.0 346.7 351.8 384.0 438.2 464.2 369.6 404.8 430.6 454.6 462.9 462.7 471.2 466.9 456.1 399.7 377.8 365.5 335.3 319.3 318.9 314.2 Total 895.8 866.9 830.3 851.4 917.3 995.6 1,069.6 1,109.0 1,082.0 916.3 1,093.0 1,104.6 1,112.6 1,125.7 1,134.0 1,116.5 1,084.1 993.3 903.4 903.8 913.1 944.7 989.7 1,046.0 1,087.3 Computers and peripheral Software equipment 1 Total 391.9 390.2 379.3 405.0 443.1 475.3 514.8 560.5 594.7 595.8 546.5 550.2 561.5 583.8 597.4 606.2 598.1 577.2 567.3 581.4 601.8 632.9 645.7 669.1 686.8 ������������������ ������������������ ������������������ ������������������ ������������������ ������������������ ������������������ ������������������ ������������������ ������������������ ������������������ ������������������ ������������������ ������������������ ������������������ ������������������ ������������������ ������������������ ������������������ ������������������ ������������������ ������������������ ������������������ ������������������ ������������������ 172.4 173.7 173.4 185.6 204.6 218.0 227.1 240.9 254.9 259.3 238.9 239.2 241.1 244.2 253.4 254.8 256.3 255.0 250.7 256.2 260.7 269.5 275.4 280.9 291.0 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. Other 168.4 163.2 148.4 156.4 168.1 178.4 191.2 210.6 217.9 215.5 201.4 205.8 210.9 224.5 221.0 224.1 219.3 207.4 204.8 209.5 220.3 227.4 232.3 239.5 246.4 Structures Industrial Transportation equipequipment ment 175.8 162.8 151.9 151.6 147.4 159.6 172.9 179.9 172.2 132.2 172.6 185.0 185.4 176.5 177.6 176.2 172.4 162.8 138.2 132.8 129.3 128.3 128.4 140.7 143.3 Other equipment 186.2 169.6 154.2 140.4 162.3 181.7 196.5 185.8 143.0 69.4 195.1 184.1 181.3 182.6 182.1 158.1 136.5 95.3 64.2 70.5 68.5 74.5 95.8 110.2 124.7 150.4 149.3 148.2 155.0 164.4 178.9 185.5 184.2 177.5 137.8 179.9 185.8 185.6 185.6 180.8 181.1 182.3 165.7 148.1 136.4 134.1 132.7 142.4 147.8 154.5 Total residential Total 2 580.0 583.3 613.8 664.3 729.5 775.0 718.2 584.2 444.2 342.7 631.3 611.4 570.6 523.3 482.2 464.4 435.6 394.7 352.7 333.9 342.4 341.7 330.7 350.1 323.1 572.6 575.6 605.9 655.9 720.1 765.2 708.1 574.2 434.7 333.9 621.3 601.5 560.7 513.5 472.6 454.6 426.1 385.7 344.0 325.4 333.6 332.7 321.4 340.7 313.6 Single family Equipment 315.0 315.4 327.7 362.6 406.1 433.5 391.1 284.0 178.2 105.4 314.0 301.8 278.0 242.1 209.5 193.0 168.2 142.3 110.0 94.7 106.2 110.9 115.9 121.9 113.4 7.4 7.6 7.9 8.4 9.4 9.8 10.2 10.0 9.7 9.0 10.1 10.0 10.0 10.0 9.8 10.0 9.7 9.2 8.9 8.7 9.0 9.2 9.5 9.7 9.7 Note: Because of the formula used for calculating real GDP, the chained (2005) 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 Forestry, Total fishing, by and agri- Mining industry cultural services ConUtilities struction Manufacturing Wholesale trade Retail trade Transportation Informa- Finance and and tion insurwareance housing ProfesReal sional, estate scienand tific, rental and and leasing technical services Health care and social assistance Other 1 For companies without employees For companies with employees 1996 �������� 1997 �������� 1998 �������� 1999 �������� 2000 �������� 2001 �������� 2002 �������� 2003 �������� 2004 �������� 2005 �������� 2006 �������� 2007 �������� 2008 ��������� 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 1,354.7 1,270.5 2.1 120.7 85.4 36.7 197.3 30.8 82.5 67.4 106.1 173.4 117.5 31.8 84.2 134.8 84.2 1,375.1 1,295.5 2.4 149.9 98.3 41.7 211.4 32.9 73.4 79.6 103.4 145.4 96.0 32.7 90.0 138.3 79.7 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 EMPLOYMENT, UNEMPLOYMENT, AND WAGES Status of the Labor Force In November, employment fell by 173,000 and unemployment rose by 276,000. [Thousands of persons 16 years of age and over, except as noted; monthly data seasonally adjusted except as noted by NSA] Period 2000 2 ������������������ 2001 �������������������� 2002 �������������������� 2003 2 ������������������ 2004 2 ������������������ 2005 2 ������������������ 2006 2 ������������������ 2007 2 ������������������ 2008 2 ������������������ 2009 2 ������������������ 2009: Nov ���������� Dec ����������� 2010: Jan 2 ��������� Feb ����������� Mar ���������� Apr ����������� May ���������� June ��������� July ���������� Aug ���������� Sept ��������� Oct ����������� Nov ���������� Civilian noninstitutional population (NSA) 212,577 215,092 217,570 221,168 223,357 226,082 228,815 231,867 233,788 235,801 236,743 236,924 236,832 236,998 237,159 237,329 237,499 237,690 237,890 238,099 238,322 238,530 238,715 Civilian employment Civilian labor force Total 142,583 143,734 144,863 146,510 147,401 149,320 151,428 153,124 154,287 154,142 153,720 153,059 153,170 153,512 153,910 154,715 154,393 153,741 153,560 154,110 154,158 153,904 154,007 136,891 136,933 136,485 137,736 139,252 141,730 144,427 146,047 145,362 139,877 138,381 137,792 138,333 138,641 138,905 139,455 139,420 139,119 138,960 139,250 139,391 139,061 138,888 Men 20 years and over 69,634 69,776 69,734 70,415 71,572 73,050 74,431 75,337 74,750 71,341 70,662 70,391 70,390 70,623 70,913 71,358 71,477 71,316 71,332 71,521 71,545 71,363 71,129 Women 20 years and over 60,067 60,417 60,420 61,402 61,773 62,702 63,834 64,799 65,039 63,699 63,269 62,998 63,527 63,538 63,495 63,552 63,505 63,516 63,314 63,356 63,586 63,386 63,370 Percent 1 Unemployment Both sexes 16–19 years 7,189 6,740 6,332 5,919 5,907 5,978 6,162 5,911 5,573 4,837 4,450 4,403 4,416 4,480 4,496 4,544 4,438 4,286 4,315 4,373 4,261 4,312 4,389 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. Total 5,692 6,801 8,378 8,774 8,149 7,591 7,001 7,078 8,924 14,265 15,340 15,267 14,837 14,871 15,005 15,260 14,973 14,623 14,599 14,860 14,767 14,843 15,119 Men 20 years and over 2,376 3,040 3,896 4,209 3,791 3,392 3,131 3,259 4,297 7,555 8,239 8,011 7,835 7,848 7,882 7,998 7,760 7,793 7,638 7,811 7,762 7,626 7,900 Women 20 years and over 2,235 2,599 3,228 3,314 3,150 3,013 2,751 2,718 3,342 5,157 5,473 5,622 5,422 5,531 5,532 5,712 5,623 5,343 5,433 5,488 5,505 5,617 5,788 Both sexes 16–19 years 1,081 1,162 1,253 1,251 1,208 1,186 1,119 1,101 1,285 1,552 1,627 1,634 1,580 1,491 1,591 1,550 1,590 1,486 1,528 1,561 1,500 1,600 1,432 Not in labor force 69,994 71,359 72,707 74,658 75,956 76,762 77,387 78,743 79,501 81,659 83,022 83,865 83,663 83,487 83,249 82,614 83,107 83,949 84,330 83,989 84,164 84,626 84,708 Labor force participation rate 67.1 66.8 66.6 66.2 66.0 66.0 66.2 66.0 66.0 65.4 64.9 64.6 64.7 64.8 64.9 65.2 65.0 64.7 64.6 64.7 64.7 64.5 64.5 Employment/ population ratio Unemployment rate 64.4 63.7 62.7 62.3 62.3 62.7 63.1 63.0 62.2 59.3 58.5 58.2 58.4 58.5 58.6 58.8 58.7 58.5 58.4 58.5 58.5 58.3 58.2 4.0 4.7 5.8 6.0 5.5 5.1 4.6 4.6 5.8 9.3 10.0 10.0 9.7 9.7 9.7 9.9 9.7 9.5 9.5 9.6 9.6 9.6 9.8 Note: Beginning January 2010, data reflect revised population controls and are not strictly comparable with earlier data. See Employment and Earnings for details on breaks in series. Source: Department of Labor (Bureau of Labor Statistics). 11 Selected Unemployment Rates In November, the unemployment rate rose to 9.8 percent. [Monthly data seasonally adjusted] Unemployment rate (percent of civilian labor force in group) By race or ethnicity 1 By sex and age Period 2000 �������������������� 2001 �������������������� 2002 �������������������� 2003 �������������������� 2004 �������������������� 2005 �������������������� 2006 �������������������� 2007 �������������������� 2008 �������������������� 2009 �������������������� 2009: Nov ���������� Dec ����������� 2010: Jan ����������� Feb ����������� Mar ���������� Apr ����������� May ���������� June ��������� July ���������� Aug ���������� Sept ��������� Oct ����������� Nov ���������� All civilian workers 4.0 4.7 5.8 6.0 5.5 5.1 4.6 4.6 5.8 9.3 10.0 10.0 9.7 9.7 9.7 9.9 9.7 9.5 9.5 9.6 9.6 9.6 9.8 Men 20 years and over 3.3 4.2 5.3 5.6 5.0 4.4 4.0 4.1 5.4 9.6 10.4 10.2 10.0 10.0 10.0 10.1 9.8 9.9 9.7 9.8 9.8 9.7 10.0 Women 20 years and over 3.6 4.1 5.1 5.1 4.9 4.6 4.1 4.0 4.9 7.5 8.0 8.2 7.9 8.0 8.0 8.2 8.1 7.8 7.9 8.0 8.0 8.1 8.4 Both sexes 16–19 years 13.1 14.7 16.5 17.5 17.0 16.6 15.4 15.7 18.7 24.3 26.8 27.1 26.4 25.0 26.1 25.4 26.4 25.7 26.1 26.3 26.0 27.1 24.6 White 3.5 4.2 5.1 5.2 4.8 4.4 4.0 4.1 5.2 8.5 9.3 9.0 8.7 8.8 8.8 9.0 8.8 8.6 8.6 8.7 8.7 8.8 8.9 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. 12 Black or African American 7.6 8.6 10.2 10.8 10.4 10.0 8.9 8.3 10.1 14.8 15.6 16.2 16.5 15.8 16.5 16.5 15.5 15.4 15.6 16.3 16.1 15.7 16.0 By selected groups Hispanic or Latino ethnicity Asian (NSA) 3.6 4.5 5.9 6.0 4.4 4.0 3.0 3.2 4.0 7.3 7.3 8.4 8.4 8.4 7.5 6.8 7.5 7.7 8.2 7.2 6.4 7.1 7.6 5.7 6.6 7.5 7.7 7.0 6.0 5.2 5.6 7.6 12.1 12.7 12.9 12.6 12.4 12.6 12.5 12.4 12.4 12.1 12.0 12.4 12.6 13.2 Married men, spouse present Women who maintain families (NSA) 2.0 2.7 3.6 3.8 3.1 2.8 2.4 2.5 3.4 6.6 7.5 7.3 6.6 6.8 6.7 6.6 6.7 6.8 6.6 6.8 6.8 7.0 7.0 Note: Data relate to persons age 16 years and over. Source: Department of Labor (Bureau of Labor Statistics). 5.9 6.6 8.0 8.5 8.0 7.8 7.1 6.5 8.0 11.5 11.4 13.0 12.3 11.6 11.3 11.0 11.6 12.1 13.4 13.4 12.9 12.4 13.0 Full-time workers 3.8 4.7 5.9 6.1 5.6 5.0 4.5 4.6 5.8 10.0 11.0 10.9 10.4 10.5 10.5 10.6 10.4 10.2 10.2 10.3 10.4 10.4 10.7 Part-time workers 4.8 5.1 5.2 5.5 5.3 5.4 5.1 4.9 5.5 6.0 5.6 6.0 6.4 6.2 6.7 6.5 6.7 6.4 6.4 6.7 6.1 6.3 5.8 Selected Measures of Unemployment and Unemployment Insurance Programs In November, the percentage of the unemployed who had been out of work for 5-14 weeks fell, while the percentages for less than 5 weeks, 15-26 weeks, and for 27 weeks and over rose. The mean duration of unemployment fell to 33.8 weeks and the median duration rose to 21.6 weeks. [Monthly data seasonally adjusted, except as noted by NSA] Duration of unemployment Period Unemployment (thousands) Percent distribution Less than 5 weeks 5–14 weeks 15–26 weeks Reason for unemployment: percent distribution Number of weeks 27 weeks and over Average (mean) Median Job losers Job leavers Reentrants New entrants State programs Insured unemployment (NSA) Initial claims (NSA) Insured unemployment, all programs (NSA) 1 Weekly average, thousands 2000 �������������������� 2001 �������������������� 2002 �������������������� 2003 �������������������� 2004 �������������������� 2005 �������������������� 2006 �������������������� 2007 �������������������� 2008 �������������������� 2009 �������������������� 2009: Nov ���������� Dec ����������� 2010: Jan ����������� Feb ����������� Mar ���������� Apr ����������� May ���������� June ��������� July ���������� Aug ���������� Sept ��������� Oct ����������� Nov ���������� 5,692 6,801 8,378 8,774 8,149 7,591 7,001 7,078 8,924 14,265 15,340 15,267 14,837 14,871 15,005 15,260 14,973 14,623 14,599 14,860 14,767 14,843 15,119 44.9 42.0 34.5 31.7 33.1 35.1 37.3 35.9 32.8 22.2 18.2 19.0 19.6 18.3 17.8 18.3 18.7 18.6 19.4 18.5 19.7 17.9 18.8 31.9 32.3 30.8 29.8 29.2 30.4 30.3 31.5 31.4 26.8 23.0 22.7 22.0 22.8 21.7 20.4 20.5 21.0 20.9 24.4 22.8 23.3 22.3 11.8 14.0 16.3 16.4 15.9 14.9 14.7 15.0 16.0 19.5 20.1 18.5 17.2 18.0 16.4 15.4 14.7 14.9 14.7 15.0 15.9 17.0 17.1 11.4 11.8 18.3 22.1 21.8 19.6 17.6 17.6 19.7 31.5 38.7 39.8 41.2 40.9 44.1 45.9 46.0 45.5 44.9 42.0 41.7 41.8 41.9 12.6 13.1 16.6 19.2 19.6 18.4 16.8 16.8 17.9 24.4 28.6 29.1 30.2 29.7 31.2 33.0 34.4 35.2 34.2 33.6 33.3 33.9 33.8 1 Includes State (50 States, District of Columbia, Puerto Rico, and the Virgin Islands), Federal (UCFE), ex-service members (UCX), and Federal and State extended benefit programs. Also includes Temporary Extended Unemployment Compensation (2002-2004), Emergency Unemployment Compensation (2008-2010), and Federal Additional Compensation (2009-2010). 5.9 6.8 9.1 10.1 9.8 8.9 8.3 8.5 9.4 15.1 20.2 20.5 19.9 19.4 20.0 21.6 23.2 25.5 22.2 19.9 20.4 21.2 21.6 44.2 51.1 55.0 55.1 51.5 48.3 47.4 49.7 53.7 64.2 64.8 63.7 61.9 63.2 62.4 61.0 62.1 63.0 62.5 62.7 63.4 61.8 63.1 13.7 12.3 10.3 9.3 10.5 11.5 11.8 11.2 10.0 6.2 6.0 6.1 6.1 5.7 6.0 6.2 6.5 6.2 6.2 5.9 5.4 5.8 5.7 34.5 29.9 28.3 28.2 29.5 31.4 32.0 30.3 27.7 22.3 20.9 21.9 23.8 22.8 23.6 24.7 23.3 22.9 23.2 23.0 23.2 23.8 22.9 7.6 2,110 301 2,143 6.8 2,974 404 3,012 6.4 3,585 407 4,453 7.3 3,531 404 4,400 8.4 2,950 345 3,103 8.8 2,661 328 2,709 8.8 2,476 313 2,521 8.9 2,572 324 2,612 8.6 3,306 424 3,898 7.3 5,724 568 9,074 8.3 5,638 553 10,809 8.3 5,810 701 11,677 8.2 6,114 640 12,213 8.2 5,530 484 11,240 8.0 6,050 496 12,618 8.1 4,949 482 10,434 8.1 4,782 421 10,563 r 7.9 4,758 497 10,166 r 9,041 8.1 4,551 502 r 11,164 8.5 4,936 440 r r 9,237 8.0 4,046 402 8.6 3,944 442 9,215 8.2 ��������������� ��������������� ����������������� 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 Nonagricultural Employment Total nonagricultural employment as measured by the payroll survey rose by 39,000 in November. [Thousands of wage and salary workers; 1 monthly data seasonally adjusted] Private industries Period 2000 �������������������� 2001 �������������������� 2002 �������������������� 2003 �������������������� 2004 �������������������� 2005 �������������������� 2006 �������������������� 2007 �������������������� 2008 �������������������� 2009 �������������������� 2009: Nov ���������� Dec ����������� 2010: Jan ����������� Feb ����������� Mar ���������� Apr ����������� May ���������� June ��������� July ���������� Aug ���������� Sept r �������� Oct r ���������� Nov p �������� Total nonagricultural employment 131,785 131,826 130,341 129,999 131,435 133,703 136,086 137,598 136,790 130,920 129,697 129,588 129,602 129,641 129,849 130,162 130,594 130,419 130,353 130,352 130,328 130,500 130,539 Goods-producing industries Total private 110,995 110,708 108,828 108,416 109,814 111,899 114,113 115,380 114,281 108,371 107,190 107,107 107,123 107,185 107,343 107,584 107,635 107,696 107,813 107,956 108,068 108,228 108,278 Total 2 24,649 23,873 22,557 21,816 21,882 22,190 22,531 22,233 21,334 18,620 17,960 17,906 17,876 17,848 17,905 17,972 17,993 17,994 18,031 18,048 18,038 18,041 18,026 Construc- Manufaction turing 6,787 6,826 6,716 6,735 6,976 7,336 7,691 7,630 7,162 6,037 5,732 5,696 5,636 5,585 5,612 5,634 5,605 5,596 5,594 5,628 5,617 5,620 5,615 17,263 16,441 15,259 14,510 14,315 14,226 14,155 13,879 13,406 11,883 11,552 11,534 11,556 11,572 11,591 11,629 11,668 11,672 11,704 11,678 11,672 11,661 11,648 Private service-providing industries Trade, transportation, and utilities Total Total 3 86,346 86,834 86,271 86,600 87,932 89,709 91,582 93,147 92,947 89,751 89,230 89,201 89,247 89,337 89,438 89,612 89,642 89,702 89,782 89,908 90,030 90,187 90,252 26,225 25,983 25,497 25,287 25,533 25,959 26,276 26,630 26,293 24,949 24,678 24,653 24,666 24,667 24,714 24,741 24,742 24,741 24,771 24,779 24,795 24,819 24,806 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. 14 Retail trade 15,280 15,239 15,025 14,917 15,058 15,280 15,353 15,520 15,283 14,528 14,375 14,360 14,409 14,416 14,439 14,453 14,448 14,431 14,442 14,449 14,445 14,458 14,430 Information Financial activities 3,630 3,629 3,395 3,188 3,118 3,061 3,038 3,032 2,984 2,807 2,762 2,748 2,745 2,739 2,728 2,727 2,725 2,711 2,717 2,724 2,717 2,716 2,717 7,687 7,808 7,847 7,977 8,031 8,153 8,328 8,301 8,145 7,758 7,666 7,657 7,635 7,628 7,609 7,611 7,602 7,591 7,581 7,578 7,582 7,582 7,573 Profes- Education Leisure sional and and and health hospitalbusiness services ity services 16,666 16,476 15,976 15,987 16,394 16,954 17,566 17,942 17,735 16,580 16,466 16,488 16,511 16,567 16,568 16,638 16,664 16,697 16,692 16,730 16,758 16,808 16,861 15,109 15,645 16,199 16,588 16,953 17,372 17,826 18,322 18,838 19,191 19,313 19,350 19,370 19,400 19,449 19,477 19,502 19,532 19,558 19,599 19,625 19,689 19,719 11,862 12,036 11,986 12,173 12,493 12,816 13,110 13,427 13,436 13,102 13,024 12,991 13,003 13,026 13,049 13,085 13,070 13,100 13,111 13,135 13,173 13,163 13,174 Other services 5,168 5,258 5,372 5,401 5,409 5,395 5,438 5,494 5,515 5,364 5,321 5,314 5,317 5,310 5,321 5,333 5,337 5,330 5,352 5,363 5,380 5,410 5,402 Government 20,790 21,118 21,513 21,583 21,621 21,804 21,974 22,218 22,509 22,549 22,507 22,481 22,479 22,456 22,506 22,578 22,959 22,723 22,540 22,396 22,260 22,272 22,261 2 Includes mining and logging, 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). Average Weekly Hours, Hourly Earnings, and Weekly Earnings— Private Nonagricultural Industries [For production or nonsupervisory workers; monthly data seasonally adjusted] Average weekly hours Total private nonagricultural 1 Period 2000 �������������������� 2001 �������������������� 2002 �������������������� 2003 �������������������� 2004 �������������������� 2005 �������������������� 2006 �������������������� 2007 �������������������� 2008 �������������������� 2009 �������������������� 2009: Oct ����������� Nov ���������� Dec ����������� 2010: Jan ����������� Feb ����������� Mar ���������� Apr ����������� May ���������� June ��������� July ���������� Aug ���������� Sept r �������� Oct r ���������� Nov p �������� Average gross hourly earnings Total private nonagricultural 1 Manufacturing Total 34.3 34.0 33.9 33.7 33.7 33.8 33.9 33.9 33.6 33.1 33.0 33.2 33.2 33.3 33.2 33.3 33.4 33.5 33.4 33.4 33.5 33.5 33.6 33.5 Overtime 41.3 40.3 40.5 40.4 40.8 40.7 41.1 41.2 40.8 39.8 40.0 40.5 40.5 40.9 40.5 41.0 41.2 41.5 41.0 41.1 41.1 41.2 41.2 41.3 4.7 4.0 4.2 4.2 4.6 4.6 4.4 4.2 3.7 2.9 3.2 3.4 3.4 3.6 3.5 3.7 3.8 3.9 3.9 3.8 3.8 3.9 3.9 4.0 Current dollars Average gross weekly earnings Total private nonagricultural 1 Manufacturing 1982-84 dollars 2 $14.02 $8.30 14.54 8.38 14.97 8.51 15.37 8.55 15.69 8.50 16.13 8.45 16.76 8.50 17.43 8.60 18.08 8.57 18.62 8.88 18.78 8.86 18.80 8.85 18.85 8.85 18.90 8.85 18.92 8.86 18.90 8.84 18.95 8.88 19.00 8.93 19.02 8.95 19.04 8.93 19.09 8.92 19.11 8.92 19.19 8.93 19.19 ����������������� Current dollars $14.32 14.76 15.29 15.74 16.14 16.56 16.81 17.26 17.75 18.23 18.41 18.38 18.38 18.42 18.47 18.47 18.48 18.56 18.54 18.57 18.59 18.64 18.68 18.70 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 cleri- Percent change from a year earlier, total private nonagricultural Current dollars 1982-84 dollars 2 $481.01 $284.79 493.79 284.61 506.75 288.09 518.06 288.13 529.09 286.77 544.33 284.99 567.87 288.11 590.04 290.99 607.95 288.06 617.11 294.38 619.74 292.47 624.16 293.84 625.82 293.92 629.37 294.60 628.14 294.01 629.37 294.41 632.93 296.49 636.50 298.99 635.27 298.97 635.94 298.18 639.52 298.81 640.19 298.67 644.78 299.89 642.87 ����������������� Manufacturing Construction $590.77 595.19 618.75 635.99 658.49 673.30 691.02 711.56 724.46 725.87 736.40 744.39 744.39 753.38 748.04 757.27 761.38 770.24 760.14 763.23 764.05 767.97 769.62 772.31 $685.78 695.89 711.82 726.83 735.55 750.22 781.21 816.66 842.61 852.45 845.38 865.24 860.63 874.73 855.81 873.94 893.58 880.87 885.09 886.62 898.61 906.36 908.31 906.33 Retail trade Current dollars $333.38 346.16 360.81 367.15 371.13 377.58 383.02 385.11 386.21 388.72 390.20 393.60 394.80 396.72 396.00 396.72 397.92 399.24 398.22 402.50 401.78 400.93 404.08 404.98 1982-84 dollars 2 3.9 0.4 2.7 –.1 2.6 1.2 2.2 .0 2.1 –.5 2.9 –.6 4.3 1.1 3.9 1.0 3.0 –1.0 1.5 2.2 1.2 1.5 2.0 –.3 2.2 –1.2 2.6 –.8 2.4 –.5 2.7 –.4 3.2 .3 3.7 1.2 3.7 2.3 3.2 1.5 3.4 1.9 3.4 1.9 4.0 2.5 3.0 ������������������� Source: Department of Labor (Bureau of Labor Statistics). cal workers (CPI–W) (on a 1982-84=100 base). Employment Cost Index—Private Industry Index (December 2005 = 100) Period Total compensation Wages and salaries Percent change from 3 months earlier Benefits 1 Total compensation 12 months earlier Wages and salaries Benefits 1 Total compensation Wages and salaries Benefits 1 Not seasonally adjusted 2000: 2001: 2002: 2003: 2004: 2005: 2006: 2007: 2008: 2009: Dec ������������������������������������������ Dec ������������������������������������������ Dec ������������������������������������������ Dec ������������������������������������������ Dec ������������������������������������������ Dec ������������������������������������������ Dec ������������������������������������������ Dec ������������������������������������������ Dec ������������������������������������������ Dec ������������������������������������������ 83.6 87.3 90.0 93.6 97.2 100.0 103.2 106.3 108.9 110.2 86.7 89.9 92.2 95.1 97.6 100.0 103.2 106.6 109.4 110.9 76.7 81.3 84.7 90.2 96.2 100.0 103.1 105.6 107.7 108.8 ����������������������� ����������������������� ����������������������� ����������������������� ����������������������� ����������������������� ����������������������� ����������������������� ����������������������� ����������������������� ����������������������� ����������������������� ����������������������� ����������������������� ����������������������� ����������������������� ����������������������� ����������������������� ����������������������� ����������������������� ����������������������� ����������������������� ����������������������� ����������������������� ����������������������� ����������������������� ����������������������� ����������������������� ����������������������� ����������������������� 4.2 4.1 3.1 4.0 3.8 2.9 3.2 3.0 2.4 1.2 Seasonally adjusted 2007: Mar ����������������������������������������� June ���������������������������������������� Sept ���������������������������������������� Dec ������������������������������������������ 2008: Mar ����������������������������������������� June ���������������������������������������� Sept ���������������������������������������� Dec ������������������������������������������ 2009: Mar ����������������������������������������� June ���������������������������������������� Sept ���������������������������������������� Dec ������������������������������������������ 2010: Mar ����������������������������������������� June ���������������������������������������� Sept ���������������������������������������� 103.9 104.8 105.6 106.5 107.2 108.0 108.6 109.1 109.3 109.6 110.0 110.4 111.1 111.6 112.1 104.3 105.1 105.9 106.7 107.6 108.4 109.1 109.6 109.8 110.1 110.5 111.0 111.4 111.9 112.4 103.1 104.2 105.0 105.8 106.5 107.0 107.5 107.9 108.1 108.3 108.6 108.9 110.4 111.0 111.6 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. 3.8 3.8 2.6 3.1 2.6 2.5 3.2 3.3 2.6 1.4 5.6 5.2 4.2 6.5 6.7 4.0 3.1 2.4 2.0 1.0 Not seasonally adjusted 0.6 .9 .8 .9 .7 .7 .6 .5 .2 .3 .4 .4 .6 .5 .4 1.0 .8 .8 .8 .8 .7 .6 .5 .2 .3 .4 .5 .4 .4 .4 –0.2 1.1 .8 .8 .7 .5 .5 .4 .2 .2 .3 .3 1.4 .5 .5 3.2 3.1 3.1 3.0 3.2 3.0 2.8 2.4 1.9 1.5 1.2 1.2 1.6 1.9 2.0 3.6 3.3 3.4 3.3 3.2 3.1 2.9 2.6 2.0 1.6 1.4 1.4 1.5 1.6 1.6 2.2 2.6 2.4 2.4 3.2 2.6 2.4 2.0 1.6 1.3 1.1 1.0 2.0 2.5 2.8 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 Productivity and Related Data, Business and Nonfarm Business Sectors Output per hour of all persons Period Business sector Nonfarm business sector Hours of all persons 2 Output 1 Business sector Nonfarm business sector 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 Implicit price deflator 5 Business sector Nonfarm business sector Business sector Nonfarm business sector 96.1 97.7 96.4 97.3 97.8 100.0 102.8 105.4 107.6 105.9 101.7 102.0 103.0 104.6 105.6 105.3 105.1 105.7 107.1 106.8 108.1 108.4 106.5 106.6 105.8 104.6 103.4 104.6 104.6 96.1 97.5 96.2 97.2 97.8 100.0 102.8 105.3 107.6 105.9 101.7 102.1 103.0 104.6 105.5 105.1 104.9 105.6 107.2 106.8 108.1 108.4 106.5 106.7 105.8 104.7 103.4 104.7 104.6 90.8 92.4 93.1 94.4 96.9 100.0 102.9 105.7 107.6 108.1 101.9 102.7 103.4 103.7 104.8 105.7 106.1 106.1 106.3 107.3 108.7 108.0 108.2 108.0 108.2 108.1 108.4 109.1 109.8 90.8 92.3 93.1 94.3 96.6 100.0 103.0 105.5 107.4 108.3 102.0 102.9 103.5 103.7 104.7 105.5 105.8 105.8 106.0 107.1 108.5 108.0 108.4 108.2 108.5 108.2 108.5 109.2 109.7 3.7 1.7 –1.3 .9 .5 2.2 2.8 2.5 2.1 –1.6 2.8 1.0 3.8 6.6 3.8 –.9 –.8 2.3 5.4 –1.1 4.8 1.1 –6.9 .6 –3.2 –4.4 –4.5 4.6 .0 3.9 1.5 –1.3 1.1 .5 2.3 2.8 2.4 2.2 –1.6 2.6 1.5 3.5 6.6 3.5 –1.4 –1.0 2.7 6.2 –1.4 5.0 1.2 –6.9 .6 –3.3 –4.2 –4.6 4.9 –.1 1.8 1.8 .8 1.4 2.6 3.3 2.9 2.6 1.8 .5 2.0 3.2 2.9 1.3 4.2 3.3 1.6 –.1 .9 4.0 5.1 –2.6 .8 –.8 .9 –.5 1.2 2.5 2.5 1.9 1.7 .9 1.3 2.4 3.5 3.0 2.4 1.8 .8 2.2 3.6 2.6 .9 3.8 3.1 1.3 –.3 .8 4.2 5.4 –1.9 1.4 –.8 1.1 –1.1 1.2 2.6 2.1 Indexes, 2005=100; quarterly data seasonally adjusted 2000 �������������������� 2001 �������������������� 2002 �������������������� 2003 �������������������� 2004 �������������������� 2005 �������������������� 2006 �������������������� 2007 �������������������� 2008 �������������������� 2009 �������������������� 2006: I ���������������� II ��������������� III �������������� IV �������������� 2007: I ���������������� II ��������������� III �������������� IV �������������� 2008: I ���������������� II ��������������� III �������������� IV �������������� 2009: I ���������������� II ��������������� III �������������� IV �������������� 2010: I ���������������� II r ������������� III r * ��������� 85.6 88.1 92.1 95.6 98.4 100.0 100.9 102.5 103.6 107.3 101.0 101.1 100.5 101.1 101.1 102.0 103.0 103.8 103.6 103.9 103.6 103.5 104.4 106.5 108.4 110.0 111.0 110.4 111.1 85.9 88.4 92.4 95.7 98.4 100.0 100.9 102.5 103.6 107.2 100.9 101.0 100.5 101.2 101.3 101.9 103.0 103.9 103.5 103.8 103.5 103.5 104.3 106.5 108.3 109.9 110.9 110.4 111.0 87.7 88.4 90.1 92.9 96.7 100.0 103.1 105.2 104.2 100.4 102.6 102.9 102.8 103.9 103.9 104.9 105.5 106.3 105.7 105.6 103.9 101.4 99.8 99.8 100.1 101.7 103.0 103.4 104.4 87.7 88.5 90.2 92.9 96.8 100.0 103.1 105.3 104.2 100.3 102.7 102.9 102.9 104.0 104.0 105.1 105.8 106.4 105.7 105.6 104.0 101.4 99.7 99.7 100.0 101.7 102.9 103.3 104.3 102.4 100.3 97.8 97.2 98.3 100.0 102.1 102.6 100.5 93.6 101.5 101.8 102.3 102.7 102.7 102.9 102.4 102.4 102.1 101.6 100.3 98.0 95.6 93.7 92.4 92.5 92.8 93.7 93.9 102.2 100.2 97.7 97.1 98.3 100.0 102.2 102.7 100.6 93.5 101.7 101.9 102.4 102.7 102.7 103.1 102.7 102.4 102.1 101.7 100.5 98.0 95.6 93.6 92.4 92.5 92.8 93.6 93.9 82.3 86.1 88.8 93.0 96.2 100.0 103.8 108.1 111.5 113.6 102.8 103.1 103.5 105.8 106.8 107.4 108.3 109.8 111.0 111.0 112.0 112.2 111.2 113.6 114.6 115.1 114.7 115.5 116.2 82.5 86.2 88.9 93.1 96.2 100.0 103.8 107.9 111.5 113.5 102.6 103.1 103.5 105.9 106.9 107.2 108.0 109.7 111.0 110.9 111.9 112.2 111.1 113.6 114.5 115.0 114.7 115.5 116.2 93.3 95.0 96.3 98.7 99.5 100.0 100.5 101.8 101.1 103.4 100.6 100.0 99.5 102.1 102.1 101.5 101.7 101.9 101.8 100.6 99.9 102.5 102.1 103.9 103.9 103.6 102.9 103.8 104.1 93.5 95.0 96.5 98.8 99.4 100.0 100.5 101.6 101.1 103.3 100.5 100.0 99.4 102.2 102.1 101.2 101.4 101.8 101.8 100.5 99.8 102.5 102.1 103.9 103.8 103.5 102.9 103.8 104.0 Percent change; quarterly data at seasonally adjusted annual rates 2000 �������������������� 2001 �������������������� 2002 �������������������� 2003 �������������������� 2004 �������������������� 2005 �������������������� 2006 �������������������� 2007 �������������������� 2008 �������������������� 2009 �������������������� 2006: I ���������������� II ��������������� III �������������� IV �������������� 2007: I ���������������� II ��������������� III �������������� IV �������������� 2008: I ���������������� II ��������������� III �������������� IV �������������� 2009: I ���������������� II ��������������� III �������������� IV �������������� 2010: I ���������������� II r ������������� III r * ��������� 3.5 3.0 4.5 3.8 2.9 1.7 .9 1.5 1.1 3.5 2.6 .3 –2.2 2.5 .0 3.4 4.1 3.1 –.9 1.2 –1.1 –.3 3.5 8.3 7.2 6.1 3.5 –1.8 2.5 3.4 2.9 4.6 3.6 2.8 1.6 .9 1.6 1.0 3.5 2.6 .3 –1.9 2.9 .2 2.6 4.1 3.6 –1.4 1.2 –1.3 –.1 3.4 8.4 7.0 6.0 3.9 –1.8 2.3 4.5 .8 2.0 3.1 4.2 3.4 3.1 2.0 –.9 –3.7 6.5 1.4 –.4 4.0 .2 4.0 2.2 2.9 –2.0 –.6 –6.1 –9.3 –6.2 –.3 1.6 6.5 5.0 1.8 3.7 4.4 .9 1.9 3.0 4.1 3.4 3.1 2.1 –1.1 –3.8 6.8 1.0 –.1 4.2 .3 4.2 2.5 2.5 –2.5 –.3 –6.2 –9.5 –6.4 –.2 1.4 6.7 5.0 1.6 3.7 1.0 –2.1 –2.4 –.7 1.2 1.7 2.1 .5 –2.0 –6.9 3.7 1.1 1.9 1.5 .2 .6 –1.8 –.2 –1.1 –1.8 –5.0 –9.0 –9.4 –7.9 –5.3 .3 1.4 3.7 1.2 1.0 –2.0 –2.5 –.6 1.3 1.7 2.2 .5 –2.1 –7.0 4.1 .7 1.8 1.3 .0 1.5 –1.6 –1.0 –1.2 –1.5 –4.9 –9.5 –9.5 –7.9 –5.2 .7 1.1 3.5 1.4 1 Output refers to real gross domestic product originating in the sector. 2 Hours of all persons engaged in the sector, including hours of proprietors and unpaid family workers. Estimates based primarily on establishment data. 3 Wages and salaries of employees plus employers’ contributions for social insurance and private benefit plans. Also includes an estimate of wages, salaries, and supplemental payments for the self-employed. 4 Hourly compensation divided by the consumer price index for all urban consumers (CPI–U) for recent quarters. The trend from 1978–2009 is based on the consumer price index research series (CPI–U–RS). 5 Current dollar gross domestic output divided by the output index. 16 7.4 4.7 3.1 4.8 3.5 3.9 3.8 4.1 3.2 1.8 5.5 1.3 1.6 9.2 3.8 2.4 3.4 5.5 4.5 .1 3.6 .8 –3.6 9.0 3.8 1.5 –1.1 2.7 2.5 7.4 4.5 3.2 4.7 3.3 3.9 3.8 4.0 3.3 1.9 5.3 1.8 1.5 9.6 3.8 1.2 3.1 6.4 4.7 –.2 3.7 1.1 –3.7 9.1 3.4 1.5 –.9 2.9 2.2 3.9 1.8 1.5 2.5 .7 .5 .5 1.2 –.6 2.2 3.4 –2.3 –2.2 11.1 –.2 –2.2 .9 .6 –.3 –4.8 –2.6 11.0 –1.5 7.1 .0 –1.2 –2.6 3.5 1.0 4.0 1.6 1.5 2.4 .6 .6 .5 1.1 –.5 2.2 3.1 –1.9 –2.2 11.5 –.2 –3.4 .6 1.5 .0 –5.1 –2.6 11.3 –1.6 7.2 –.3 –1.1 –2.4 3.7 .8 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 November 23, 2010. Source: Department of Labor (Bureau of Labor Statistics). PRODUCTION AND BUSINESS ACTIVITY Industrial Production and Capacity Utilization Industrial production and capacity utilization were unchanged in October. [Monthly data seasonally adjusted] Total industrial production 1 Period 2000 �������������������� 2001 �������������������� 2002 �������������������� 2003 �������������������� 2004 �������������������� 2005 �������������������� 2006 �������������������� 2007 �������������������� 2008 �������������������� 2009 �������������������� 2009: Oct ����������� Nov ���������� Dec ����������� 2010: Jan ����������� Feb ����������� Mar ���������� Apr ����������� May r �������� June r ������� July r �������� Aug r ��������� Sept r �������� Oct p ��������� Industry production indexes, 2007=100 Percent change 2 Index, 2007=100 92.0 88.9 89.1 90.2 92.3 95.3 97.4 100.0 96.7 87.7 88.6 89.1 89.6 90.5 90.5 91.0 91.5 92.6 92.6 93.3 93.5 93.4 93.4 From preceding month ��������������������� ��������������������� ��������������������� ��������������������� ��������������������� ��������������������� ��������������������� ��������������������� ��������������������� ��������������������� 0.3 .5 .5 1.0 .0 .6 .5 1.2 .0 .8 .2 –.2 .0 Capacity utilization rate (output as percent of capacity) 1 Manufacturing From year earlier 4.0 –3.3 .2 1.3 2.3 3.2 2.2 2.7 –3.3 –9.3 –5.6 –4.1 –1.6 1.5 2.3 4.4 5.8 8.0 8.3 7.6 6.6 5.6 5.3 Total 1 90.9 87.3 87.6 88.7 91.2 94.8 97.1 100.0 95.5 85.0 86.0 86.8 86.9 87.8 87.5 88.5 89.3 90.3 90.0 90.7 90.7 90.8 91.3 Durable 84.6 80.8 80.7 82.9 86.2 91.1 95.3 100.0 96.4 82.1 83.5 84.3 84.5 85.7 85.5 86.7 88.2 89.5 89.6 90.7 90.2 90.3 91.1 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. Nondurable 95.9 93.0 94.3 94.5 95.9 98.3 98.9 100.0 94.7 89.0 89.8 90.7 90.8 91.3 91.2 91.9 92.1 92.7 92.2 92.3 92.9 93.3 93.5 Other (non-NAICS) 1 116.4 108.8 105.2 102.1 102.9 102.6 101.4 100.0 93.5 79.9 78.2 79.7 79.7 78.1 76.4 76.8 76.3 78.1 76.9 76.7 76.4 74.5 74.5 Mining 102.9 103.4 98.7 98.9 98.1 96.6 99.5 100.0 100.8 95.8 96.0 96.7 94.9 96.5 97.5 98.9 100.8 100.0 99.8 100.8 103.1 103.2 103.2 Utilities 89.9 89.5 92.3 94.1 95.3 97.3 96.7 100.0 99.9 97.3 98.4 95.8 101.2 102.1 102.6 99.0 95.3 99.2 101.6 102.5 101.5 99.3 95.9 Total industry 81.5 76.0 74.7 75.9 77.9 80.1 80.7 81.3 77.9 70.0 70.7 71.1 71.6 72.3 72.4 72.8 73.2 74.2 74.2 74.8 74.9 74.8 74.8 Total manufacturing 79.7 73.7 72.8 73.8 76.2 78.5 79.1 79.6 75.0 67.2 68.2 69.0 69.1 69.8 69.7 70.4 71.1 72.0 71.7 72.2 72.2 72.3 72.7 2 Percent changes based on unrounded indexes. Note: Data based on NAICS except series as defined in footnote 1. Source: Board of Governors of the Federal Reserve System. 17 Industrial Production— Major Market Groups and Selected Manufactures [2007=100; monthly data seasonally adjusted] Products and nonindustrial supplies Materials Final products Consumer goods Period Total 2000 �������������������� 2001 �������������������� 2002 �������������������� 2003 �������������������� 2004 �������������������� 2005 �������������������� 2006 �������������������� 2007 �������������������� 2008 �������������������� 2009 �������������������� 2009: Oct ����������� Nov ���������� Dec ����������� 2010: Jan ����������� Feb ����������� Mar ���������� Apr ����������� May r �������� June r ������� July r �������� Aug r ��������� Sept r �������� Oct p ��������� Nonindustrial supplies Total 90.9 89.2 88.7 89.8 91.5 95.2 97.7 100.0 96.9 89.4 90.8 90.6 91.2 92.4 92.0 92.7 92.5 94.4 94.4 95.5 95.1 94.9 95.2 92.8 91.8 93.7 95.1 96.1 98.7 99.2 100.0 95.8 90.2 92.2 92.1 92.6 93.7 93.0 93.4 92.3 94.4 94.4 95.5 95.0 94.6 94.6 Durable goods 91.4 87.3 92.6 95.7 97.1 97.8 98.2 100.0 89.7 74.5 78.7 80.2 79.5 80.9 80.2 81.3 81.6 83.8 83.3 87.5 84.4 84.0 84.6 Equipment Nondurable goods 93.4 93.6 94.2 94.9 95.7 99.0 99.6 100.0 97.9 95.6 96.7 96.1 97.0 98.0 97.3 97.5 95.9 98.0 98.1 98.3 98.6 98.2 98.0 Total 1 86.0 82.7 77.1 77.7 81.0 87.3 94.2 100.0 99.3 87.4 87.6 87.3 88.2 89.6 89.8 91.2 93.0 94.4 94.5 95.4 95.5 95.7 96.7 Business 89.0 83.7 77.8 77.6 81.7 87.6 95.7 100.0 98.5 86.5 86.8 86.4 87.4 88.6 88.4 89.3 91.2 93.0 93.6 94.3 94.5 94.7 95.8 Defense and space Total 67.8 74.3 75.0 79.7 77.7 85.8 84.5 100.0 102.5 103.6 105.5 104.4 103.3 104.7 105.1 107.8 108.3 107.9 107.1 108.9 108.3 108.1 108.8 95.1 91.4 91.5 92.5 94.4 97.8 99.3 100.0 94.3 82.8 82.0 82.7 83.1 83.4 82.8 83.4 84.7 85.2 85.2 85.2 85.5 84.7 84.3 Construction Business 96.8 92.4 92.4 92.2 94.4 98.9 101.2 100.0 90.5 75.4 73.8 75.3 73.6 74.8 74.4 76.1 79.4 79.3 79.3 78.8 79.6 79.3 79.4 94.4 91.0 91.1 92.7 94.4 97.3 98.4 100.0 96.2 86.5 86.1 86.3 87.8 87.6 86.9 87.0 87.3 88.1 88.1 88.3 88.4 87.3 86.6 Total 1 91.8 87.7 88.6 89.8 92.3 94.4 96.5 100.0 97.3 87.9 88.9 89.9 90.3 91.2 91.7 92.1 92.9 93.5 93.5 94.2 94.8 95.0 94.9 Energy 99.5 98.3 98.0 98.1 97.7 96.5 98.1 100.0 100.7 98.6 99.2 99.1 100.2 100.2 101.6 101.1 101.4 102.0 102.0 103.1 104.5 104.2 103.2 1 Includes other items, not shown separately. [2007=100; monthly data seasonally adjusted] Durable manufactures Computer and electronic products Primary metals Period Total 2000 �������������������� 2001 �������������������� 2002 �������������������� 2003 �������������������� 2004 �������������������� 2005 �������������������� 2006 �������������������� 2007 �������������������� 2008 �������������������� 2009 �������������������� 2009: Oct ����������� Nov ���������� Dec ����������� 2010: Jan ����������� Feb ����������� Mar ���������� Apr ����������� May r �������� June r ������� July r �������� Aug r ��������� Sept r �������� Oct p ��������� 99.9 91.0 91.0 89.4 97.3 94.9 97.6 100.0 98.3 67.3 73.3 77.5 80.7 81.8 82.5 84.5 86.3 86.5 87.0 82.1 82.2 84.0 83.6 Iron and steel products 96.5 87.6 88.7 89.3 101.1 93.8 97.8 100.0 103.5 61.8 78.0 79.9 85.8 89.9 89.5 93.5 95.8 96.1 94.6 85.3 84.6 87.9 85.6 Fabricated metal products 96.9 89.9 87.6 86.6 86.9 91.0 95.9 100.0 96.4 82.4 81.6 82.4 82.6 83.3 83.3 84.3 85.9 87.3 88.4 89.6 90.7 90.9 91.2 Machinery Total 98.5 87.1 83.7 83.3 86.8 92.1 96.5 100.0 97.7 76.4 74.5 73.5 76.5 78.2 78.4 78.7 81.9 83.9 84.9 84.7 84.6 84.7 85.8 52.9 54.0 52.7 60.2 68.4 76.9 87.1 100.0 109.4 100.4 104.1 105.2 105.6 107.0 108.5 110.3 112.4 114.3 114.1 115.5 116.0 115.6 116.4 1 Computers and peripheral equipment, communications equipment, and semiconductors and related electronic components. 18 Nondurable manufactures Selected high-technology 1 42.9 44.2 44.0 53.1 60.6 70.9 84.3 100.0 113.5 100.0 106.9 107.4 107.8 109.1 111.2 112.4 115.1 116.5 116.4 116.8 117.5 117.7 117.7 Transportation equipment Total 88.3 84.9 88.6 89.5 89.3 93.1 94.2 100.0 87.8 76.0 80.5 80.7 80.3 81.6 80.4 81.7 80.9 82.7 82.3 86.7 83.9 83.9 84.6 Motor vehicles and parts 97.4 88.8 97.6 101.1 101.6 102.3 100.7 100.0 80.7 60.6 69.3 71.0 71.2 73.5 71.7 73.2 72.0 76.0 75.3 82.5 77.4 77.4 78.6 Apparel Printing and support 249.6 215.0 170.1 156.7 134.6 129.1 125.8 100.0 79.7 65.3 62.5 63.0 64.2 67.1 66.4 65.9 66.8 66.3 65.6 63.9 65.5 63.6 65.1 Source: Board of Governors of the Federal Reserve System. 108.4 104.8 102.1 98.1 98.5 98.6 97.8 100.0 94.3 79.7 78.2 77.5 77.4 77.1 76.0 75.6 76.6 78.1 77.4 76.6 77.7 76.4 75.9 Chemical 81.4 79.9 85.3 86.7 90.1 93.1 95.4 100.0 94.1 90.9 92.1 93.8 94.3 95.4 94.2 94.2 94.1 93.4 92.6 92.4 92.9 94.3 94.2 Food 92.9 93.0 95.0 95.6 95.6 98.6 99.4 100.0 98.6 97.6 99.4 99.5 99.2 100.0 101.0 101.7 101.6 102.5 102.5 102.8 104.9 105.3 105.6 New Construction [Billions of dollars; monthly data at seasonally adjusted annual rates] Private Period Total new construction expenditures 2000 �������������������� 2001 �������������������� 2002 �������������������� 2003 �������������������� 2004 �������������������� 2005 �������������������� 2006 �������������������� 2007 �������������������� 2008 �������������������� 2009 �������������������� 2009: Oct ����������� Nov ���������� Dec ����������� 2010: Jan ����������� Feb ����������� Mar ���������� Apr ����������� May ���������� June ��������� July ���������� Aug r ��������� Sept r �������� Oct p ��������� Residential Total 802.8 840.2 847.9 891.5 991.4 1,104.1 1,167.2 1,152.4 1,067.6 907.8 884.7 861.5 841.8 841.0 815.8 824.0 843.1 819.7 820.2 798.8 791.5 797.1 802.3 New housing Total 1 621.4 638.3 634.4 675.4 771.2 870.0 911.8 863.3 758.8 592.3 571.0 555.8 540.0 547.6 524.6 524.4 538.4 519.1 510.7 489.9 476.1 477.8 481.8 Federal and State and local Nonresidential 346.1 364.4 396.7 446.0 532.9 611.9 613.7 493.2 350.3 245.6 253.0 249.0 243.0 266.2 248.7 249.3 264.2 251.8 247.7 237.6 222.8 224.0 229.6 Total 265.0 279.4 298.8 345.7 417.5 480.8 468.8 354.1 230.1 133.6 130.6 130.4 130.6 129.9 130.5 131.2 134.0 132.8 130.9 128.9 123.3 121.0 120.2 Lodging 275.3 273.9 237.7 229.3 238.3 258.1 298.1 370.0 408.6 346.7 318.0 306.8 297.0 281.5 275.9 275.1 274.1 267.3 263.0 252.3 253.3 253.8 252.2 1 Includes residential improvements, not shown separately. 2 Includes health care, educational, communication, and power, among other categories not Commercial (including farm) Office 16.3 14.5 10.5 9.9 12.0 12.7 17.6 27.5 35.4 25.4 20.1 18.5 17.2 14.1 13.0 12.0 11.3 11.2 10.9 10.8 10.8 10.2 9.7 52.4 49.7 35.3 30.6 32.9 37.3 45.7 53.8 55.5 37.9 32.8 29.9 29.4 28.0 27.7 26.0 25.2 24.3 23.6 22.5 23.3 23.7 22.3 Manufacturing 64.1 63.6 59.0 57.5 63.2 66.6 73.4 85.9 82.7 51.3 42.3 42.2 42.7 41.6 40.1 39.0 39.5 39.5 38.6 38.0 37.4 36.9 35.8 Other 2 37.6 37.8 22.7 21.4 23.2 28.4 32.3 40.2 52.8 58.0 54.5 52.3 44.0 42.6 42.7 45.0 44.1 40.2 38.7 36.8 36.0 36.0 33.9 104.9 108.2 110.2 109.9 107.0 113.1 129.2 162.7 182.3 174.2 168.3 164.0 163.8 155.3 152.4 153.1 154.1 152.0 151.2 144.2 145.7 147.0 150.4 181.3 201.9 213.4 216.1 220.2 234.2 255.4 289.1 308.7 315.5 313.6 305.7 301.8 293.4 291.2 299.6 304.8 300.6 309.5 308.8 315.4 319.2 320.5 Source: Department of Commerce (Bureau of the Census). shown separately. New Private Housing and Vacancy Rates [Thousands of units or houses, except as noted] New private housing units Units started, by type of structure Period Total 2000 �������������������� 2001 �������������������� 2002 �������������������� 2003 �������������������� 2004 �������������������� 2005 �������������������� 2006 �������������������� 2007 �������������������� 2008 �������������������� 2009 �������������������� New private houses 1,568.7 1,602.7 1,704.9 1,847.7 1,955.8 2,068.3 1,800.9 1,355.0 905.5 554.0 1,230.9 1,273.3 1,358.6 1,499.0 1,610.5 1,715.8 1,465.4 1,046.0 622.0 445.1 Units authorized 5 units or more 2–4 units 1 1 unit 38.7 36.6 38.5 33.5 42.3 41.1 42.7 31.7 17.5 11.6 299.1 292.8 307.9 315.2 303.0 311.4 292.8 277.3 266.0 97.3 Units completed Houses for sale at end of period 2 Houses sold Vacancy rate for rental housing units (percent) 3 1,592.3 1,636.7 1,747.7 1,889.2 4 2,070.1 2,155.3 1,838.9 1,398.4 905.4 583.0 1,573.7 1,570.8 1,648.4 1,678.7 1,841.9 1,931.4 1,979.4 1,502.8 1,119.7 794.4 877 908 973 1,086 1,203 1,283 1,051 776 485 375 298 308 339 370 422 511 536 497 353 231 8.0 8.4 9.0 9.8 10.2 9.9 9.7 9.8 10.0 10.6 576 621 681 629 650 685 610 574 583 559 571 547 552 751 850 752 662 668 643 747 705 879 576 606 633 613 396 368 356 349 347 384 414 282 310 283 275 308 283 242 236 231 232 232 228 216 216 211 210 207 203 202 ���������������������������� ���������������������������� 10.7 ���������������������������� ���������������������������� 10.6 ���������������������������� ���������������������������� 10.6 ���������������������������� ���������������������������� 10.3 ���������������������������� Seasonally adjusted annual rates 2009: Oct ����������� Nov ���������� Dec ����������� 2010: Jan ����������� Feb ����������� Mar ���������� Apr ����������� May ���������� June ��������� July ���������� Aug r ��������� Sept r �������� Oct p ��������� 529 589 576 612 605 634 679 588 539 550 614 588 519 475 504 486 511 527 535 563 459 450 427 432 441 436 5 9 12 7 16 8 12 12 5 20 14 6 9 1 Derived; seasonally adjusted monthly data for 2–4 units are no longer published. 2 Seasonally adjusted. 3 Revised 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 49 76 78 94 62 91 104 117 84 103 168 141 74 r Note: Beginning 2004, units authorized are for 20,000 permit-issuing places. For other data shown, units authorized are for 19,000 places. Source: Department of Commerce (Bureau of the Census). 2,052.1 thousand units. 19 Business Sales and Inventories—Manufacturing and Trade In September, according to current estimates, manufacturing and trade sales rose 0.7 percent, while inventories rose $15.6 billion. According to advance estimates, retail sales rose 1.3 percent in October. Retail and food services sales rose 1.2 percent. [Millions of dollars, except ratios; seasonally adjusted, except as noted] Manufacturing and trade 1 Period Sales 2 Inventories 3 Inventory/sales ratio 4 Wholesale Sales 2 Inventories 3 Retail Inventory/sales ratio 4 2000 �������������������� 834,325 1,196,993 1.41 234,546 308,906 1.29 2001 �������������������� 818,615 1,119,541 1.42 232,096 297,135 1.32 2002 �������������������� 823,714 1,139,673 1.36 236,294 300,813 1.25 2003 �������������������� 854,559 1,147,796 1.34 247,624 307,550 1.22 2004 �������������������� 925,277 1,240,354 1.30 276,213 338,542 1.17 2005 �������������������� 1,002,939 1,310,916 1.27 299,630 365,037 1.18 2006 �������������������� 1,065,569 1,405,709 1.28 324,142 395,634 1.18 2007 �������������������� 1,124,749 1,482,537 1.29 346,119 420,779 1.18 2008 �������������������� 1,154,682 1,474,215 1.32 367,564 436,423 1.21 r 2009 �������������������� 1,003,274 1,329,337 1.36 313,174 390,453 1.29 2009: Sept r �������� 1,011,367 1,319,439 1.30 316,318 386,281 1.22 r Oct ���������� 1,022,838 1,327,175 1.30 319,030 389,434 1.22 Nov ���������� 1,047,001 1,331,921 1.27 330,869 393,627 1.19 Dec ����������� 1,057,078 1,329,337 1.26 332,897 390,453 1.17 2010: Jan ����������� 1,063,822 1,331,665 1.25 335,870 391,038 1.16 Feb ����������� 1,066,760 1,340,176 1.26 339,739 393,220 1.16 Mar ���������� 1,093,913 1,349,012 1.23 348,691 396,057 1.14 Apr ����������� 1,100,530 1,354,192 1.23 351,783 396,876 1.13 May ���������� 1,087,459 1,356,256 1.25 349,899 398,732 1.14 June ��������� 1,082,515 1,362,503 1.26 347,997 399,907 1.15 July ���������� 1,091,658 1,377,960 1.26 350,681 406,035 1.16 Aug r ��������� 1,095,236 1,389,687 1.27 352,417 410,732 1.17 p Sept ������� 1,102,367 1,405,257 1.27 353,880 416,952 1.18 p Oct ��������� ����������������������� ����������������������� ����������������������� ����������������������� ����������������������� ����������������������� 1 See page 21 for manufacturing. 2 Annual data are averages of monthly not seasonally adjusted figures; monthly data are seasonally adjusted totals for month. 20 Sales 2 Inventories 3 Inventory/sales ratio 4 249,063 406,730 1.59 255,644 394,554 1.58 261,194 415,977 1.55 272,319 432,084 1.56 289,983 461,253 1.56 308,136 472,038 1.51 323,464 486,502 1.49 333,771 498,302 1.48 329,930 478,823 1.51 305,932 428,946 1.45 305,017 427,070 1.40 309,555 428,774 1.39 315,401 428,102 1.36 315,752 428,946 1.36 316,980 429,197 1.35 318,054 430,249 1.35 325,435 433,910 1.33 326,614 434,929 1.33 322,912 437,060 1.35 321,858 441,699 1.37 323,473 446,203 1.38 326,339 451,259 1.38 r 328,919 454,756 1.38 333,339 ����������������������� ����������������������� 3 Seasonally adjusted, end of period. 4 Annual data are averages of seasonally adjusted monthly ratios. Source: Department of Commerce (Bureau of the Census). Retail and food services sales 2 274,518 282,131 288,845 301,572 321,217 341,289 358,818 370,960 368,110 344,223 343,179 347,674 353,863 354,098 355,197 357,272 364,836 365,997 362,219 361,170 362,829 365,992 r 368,576 373,103 Manufacturers’ Shipments, Inventories, and Orders In October, manufacturers’ shipments, inventories, and unfilled orders rose, while new orders fell. Manufacturers’ shipments 1 Manufacturers’ inventories 2 Manufacturers’ new orders 1 Durable goods Period Total Durable goods Nondurable goods Total Durable goods 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 2000 �������������������� 2001 �������������������� 2002 �������������������� 2003 �������������������� 2004 �������������������� 2005 �������������������� 2006 �������������������� 2007 �������������������� 2008 �������������������� 2009 �������������������� 2009: Oct ����������� Nov ���������� Dec ����������� 2010: Jan ����������� Feb ����������� Mar ���������� Apr ����������� May ���������� June ��������� July ���������� Aug ���������� Sept r �������� Oct p ��������� 350,715 330,875 326,227 334,616 359,081 395,173 417,963 444,859 457,189 384,168 394,253 400,731 408,429 410,972 408,967 419,787 422,133 414,648 412,660 417,504 416,480 419,568 421,020 197,807 181,201 176,968 178,549 188,722 202,070 213,516 224,653 218,725 183,154 185,949 187,705 192,426 192,141 189,328 193,305 197,099 195,799 196,120 201,103 198,420 198,431 196,642 152,908 149,674 149,259 156,067 170,359 193,103 204,447 220,206 238,464 201,014 208,304 213,026 216,003 218,831 219,639 226,482 225,034 218,849 216,540 216,401 218,060 221,137 224,378 481,357 427,852 422,883 408,162 440,559 473,841 523,573 563,456 558,969 509,938 508,967 510,192 509,938 511,430 516,707 519,045 522,387 520,464 520,897 525,722 527,696 533,549 538,241 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. 306,472 267,628 260,366 246,823 264,895 283,756 317,786 335,615 338,808 295,335 296,632 295,936 295,335 295,440 297,545 299,463 301,985 305,591 309,396 311,100 313,187 315,405 316,916 174,885 160,224 162,517 161,339 175,664 190,085 205,787 227,841 220,161 214,603 212,335 214,256 214,603 215,990 219,162 219,582 220,402 214,873 211,501 214,622 214,509 218,144 221,325 346,789 322,736 316,835 330,432 354,655 395,383 419,417 456,124 453,583 371,038 385,773 390,090 394,645 406,306 407,985 415,012 419,055 411,469 408,867 411,101 411,259 423,713 420,086 193,881 173,062 167,577 174,366 184,296 202,280 214,970 235,918 215,118 170,024 177,469 177,064 178,642 187,475 188,346 188,530 194,021 192,620 192,327 194,700 193,199 202,576 195,708 69,278 58,240 51,858 53,086 56,179 65,849 71,713 84,340 73,685 53,799 57,481 56,072 55,795 59,563 64,937 60,600 65,483 65,218 65,965 65,505 66,371 74,093 70,881 549,193 514,132 462,279 478,545 497,801 574,104 661,749 868,116 892,699 793,288 807,298 801,847 793,288 794,513 798,552 797,869 800,948 803,078 803,897 804,173 805,524 816,371 821,562 1.35 1.38 1.28 1.24 1.19 1.17 1.20 1.22 1.28 1.36 1.29 1.27 1.25 1.24 1.26 1.24 1.24 1.26 1.26 1.26 1.27 1.27 1.28 Note: Manufacturers’ nondurable new orders (not shown) are the same as nondurable shipments. Also, there are no unfilled nondurable orders; data shown for total unfilled orders are durable unfilled orders. Total and durable shipments and inventories include data on semiconductors; new and unfilled orders do not. Source: Department of Commerce (Bureau of the Census). 21 PRICES Producer Prices The producer price index for all finished goods rose 0.4 percent in October. Prices of finished consumer foods fell 0.1 percent and prices of other finished consumer goods rose 1.2 percent. Capital equipment prices fell 0.8 percent. [1982=100; monthly data seasonally adjusted] Finished goods Intermediate materials Finished goods excluding consumer foods Period 2000 �������������������� 2001 �������������������� 2002 �������������������� 2003 �������������������� 2004 �������������������� 2005 �������������������� 2006 �������������������� 2007 �������������������� 2008 �������������������� 2009 �������������������� 2009: Oct ����������� Nov ���������� Dec ����������� 2010: Jan ����������� Feb ����������� Mar ���������� Apr ����������� May ���������� June r ������� July ���������� Aug ���������� Sept ��������� Oct ����������� Total finished goods 138.0 140.7 138.9 143.3 148.5 155.7 160.4 166.6 177.1 172.5 173.6 176.2 177.1 179.4 178.5 179.9 179.7 179.1 178.3 178.7 179.4 180.2 181.0 Consumer foods 137.2 141.3 140.1 145.9 152.7 155.7 156.7 167.0 178.3 175.5 176.5 177.7 180.1 180.5 181.3 185.7 185.1 184.2 179.4 181.4 180.9 183.1 183.0 Consumer goods Total 138.1 140.4 138.3 142.4 147.2 155.5 161.0 166.2 176.6 171.1 172.2 175.0 175.7 178.4 177.0 177.8 177.7 177.1 177.2 177.2 178.3 178.7 179.7 1 Intermediate materials for food manufacturing and feeds. 22 Total 138.4 141.4 138.8 144.7 150.9 161.9 169.2 175.6 189.1 179.4 181.2 185.4 186.3 190.4 188.3 189.5 189.2 188.1 188.3 188.1 189.7 190.3 192.5 Durable 133.9 134.0 133.0 133.1 135.0 136.6 136.9 138.3 141.2 144.3 143.3 144.2 144.1 144.7 144.7 144.8 144.8 145.3 145.0 145.7 145.7 146.0 143.9 Nondurable 138.7 142.8 139.8 148.4 156.6 172.0 182.6 191.7 210.5 194.1 196.9 202.6 204.1 209.8 206.7 208.4 208.1 206.1 206.6 205.9 208.3 209.0 213.4 Capital equipment 138.8 139.7 139.1 139.5 141.4 144.6 146.9 149.5 153.8 156.7 156.3 156.9 156.9 157.2 157.2 157.2 157.3 157.7 157.6 158.1 158.2 158.3 157.1 Total finished consumer goods 138.2 141.5 139.4 145.3 151.7 160.4 166.0 173.5 186.3 179.1 180.7 184.1 185.5 188.6 187.2 189.2 188.9 187.8 186.8 187.1 188.2 189.2 190.8 Total 129.2 129.7 127.8 133.7 142.6 154.0 164.0 170.7 188.3 172.5 174.0 176.0 177.3 180.6 180.6 181.8 183.2 183.4 181.8 181.3 181.9 182.8 185.0 Foods and feeds 1 111.7 115.9 115.5 125.9 137.1 133.8 135.2 154.4 181.6 166.0 165.5 167.3 170.3 169.8 168.9 168.0 168.7 169.9 168.7 169.1 170.7 174.3 176.5 Crude materials Other 130.1 130.5 128.5 134.2 143.0 155.1 165.4 171.5 188.7 173.0 174.8 176.8 177.9 181.6 181.7 183.0 184.5 184.6 183.0 182.4 182.9 183.6 185.7 Source: Department of Labor (Bureau of Labor Statistics). Total 120.6 121.0 108.1 135.3 159.0 182.2 184.8 207.1 251.8 175.2 186.1 193.9 197.1 213.8 208.5 212.4 210.7 205.4 200.0 205.3 210.1 209.1 218.0 Foodstuffs and feedstuffs 100.2 106.1 99.5 113.5 127.0 122.7 119.3 146.7 163.4 134.5 135.4 136.9 141.3 144.8 143.5 148.0 149.8 149.1 140.6 145.6 150.7 158.2 164.9 Other 130.4 126.8 111.4 148.2 179.2 223.4 230.6 246.3 313.9 197.5 217.4 230.6 232.3 260.2 251.5 254.4 249.6 240.4 238.4 243.5 247.6 238.4 248.5 Consumer Prices—All Urban Consumers In October, the consumer price index for all urban consumers rose 0.2 percent; it rose 0.1 percent not seasonally adjusted. The index was 1.2 percent above its year earlier level. [1982–84=100, except as noted; monthly data seasonally adjusted, except as noted by NSA] All items 1 Housing Transportation Shelter Period Rel. imp. 3 ����������� 2000 �������������������� 2001 �������������������� 2002 �������������������� 2003 �������������������� 2004 �������������������� 2005 �������������������� 2006 �������������������� 2007 �������������������� 2008 �������������������� 2009 �������������������� 2009: Oct ����������� Nov ���������� Dec ����������� 2010: Jan ����������� Feb ����������� Mar ���������� Apr ����������� May ���������� June ��������� July ���������� Aug ���������� Sept ��������� Oct ����������� Not seasonally Seasonally adjusted adjusted (NSA) 100.0 172.2 177.1 179.9 184.0 188.9 195.3 201.6 207.342 215.303 214.537 216.177 216.330 215.949 216.687 216.741 217.631 218.009 218.178 217.965 218.011 218.312 218.439 218.711 ��������������� ��������������� ��������������� ��������������� ��������������� ��������������� ��������������� ��������������� ��������������� ��������������� ��������������� 216.357 216.859 217.224 217.587 217.591 217.729 217.579 217.224 216.929 217.597 218.150 218.372 218.879 Food 13.7 167.8 173.1 176.2 180.0 186.2 190.7 195.2 202.916 214.106 217.955 217.335 217.482 217.801 218.339 218.494 219.032 219.396 219.459 219.369 219.222 219.563 220.262 220.408 Total 1 42.0 169.6 176.4 180.3 184.8 189.5 195.7 203.2 209.586 216.264 217.057 216.926 216.881 216.880 216.185 216.181 216.280 216.129 216.172 215.933 216.192 216.277 216.157 216.351 Total 1 32.3 193.4 200.6 208.1 213.1 218.8 224.4 232.1 240.611 246.666 249.354 249.644 249.173 249.216 248.029 247.976 247.812 247.855 248.080 248.360 248.533 248.475 248.590 248.725 1 Includes items not shown separately. 2 Household fuels—gas (piped), electricity, fuel oil, etc.—and motor fuel. Owners’ Rent equivalent of rent primary 1982 residence (Dec. =100) 6.0 183.9 192.1 199.7 205.5 211.0 217.3 225.1 234.679 243.271 248.812 248.946 248.786 248.788 248.885 248.813 248.957 248.982 249.015 249.201 249.381 249.213 249.535 249.675 25.2 198.7 206.3 214.7 219.9 224.9 230.2 238.2 246.235 252.426 256.610 256.952 256.721 256.708 256.509 256.449 256.170 256.091 256.166 256.370 256.521 256.580 256.667 256.884 Fuels and utilities 5.1 137.9 150.2 143.6 154.5 161.9 179.0 194.7 200.632 220.018 210.696 209.288 211.881 211.685 212.757 213.770 216.172 215.725 214.885 212.218 213.471 214.372 213.483 214.378 Apparel 3.7 129.6 127.3 124.0 120.9 120.4 119.5 119.5 118.998 118.907 120.078 120.555 120.247 120.684 120.613 119.814 119.316 118.459 118.740 119.705 120.373 120.205 119.444 119.028 Total 1 Motor fuel 16.7 153.3 154.3 152.9 157.6 163.1 173.9 180.9 184.682 195.549 179.252 187.266 189.647 191.018 193.593 193.332 193.195 192.243 189.994 188.135 190.544 192.909 193.961 196.318 4.5 129.3 124.7 116.6 135.8 160.4 195.7 221.0 239.070 279.652 201.978 226.620 232.878 236.762 248.088 244.826 242.182 236.628 224.806 215.489 224.977 233.847 238.064 248.648 Medical care 6.5 260.8 272.8 285.6 297.1 310.1 323.2 336.2 351.054 364.065 375.613 379.184 380.212 380.732 382.737 384.703 386.007 386.905 387.136 388.254 387.933 388.842 391.328 391.902 Energy 2 8.6 124.6 129.3 121.7 136.5 151.4 177.1 196.9 207.723 236.666 193.126 203.606 208.041 209.699 215.536 214.379 214.376 211.324 205.093 199.059 204.195 208.874 210.256 215.720 All items less food and energy 77.7 181.3 186.1 190.5 193.2 196.6 200.9 205.9 210.729 215.572 219.235 220.459 220.546 220.764 220.463 220.579 220.664 220.768 221.037 221.388 221.676 221.779 221.781 221.765 3 Relative importance, December 2009. Source: Department of Labor (Bureau of Labor Statistics). 23 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 Total finished goods Foods Excluding foods 1.2 .0 –.6 .8 2.4 1.2 2.3 1.4 4.3 –.1 ����������������� ����������������� ����������������� ����������������� ����������������� ����������������� ����������������� ����������������� ����������������� ����������������� ����������������� ����������������� ����������������� ����������������� ����������������� ����������������� ����������������� ����������������� ����������������� ����������������� –0.6 .4 .0 .2 .0 .0 .1 .3 –.1 .3 .1 .1 –.8 4.7 4.9 9.1 14.0 5.3 6.5 .7 1.4 –3.5 –2.2 .7 r 4.3 5.2 6.6 8.0 14.0 9.4 8.4 13.0 10.6 6.6 –12.9 –7.8 –7.0 r 8.5 3.6 Capital equipment Excluding foods Change from year earlier, total finished goods (NSA) Capital equipment Total finished goods Foods Excluding foods ����������������� ����������������� ����������������� ����������������� ����������������� ����������������� ����������������� ����������������� ����������������� ����������������� ����������������� ����������������� ����������������� ����������������� ����������������� ����������������� ����������������� ����������������� ����������������� ����������������� ����������������� ����������������� ����������������� ����������������� ����������������� ����������������� ����������������� ����������������� ����������������� ����������������� ����������������� ����������������� ����������������� ����������������� ����������������� ����������������� ����������������� ����������������� ����������������� ����������������� ����������������� ����������������� ����������������� ����������������� ����������������� ����������������� ����������������� ����������������� ����������������� ����������������� ����������������� ����������������� ����������������� ����������������� ����������������� ����������������� ����������������� ����������������� ����������������� ����������������� 3.8 2.0 –1.3 3.2 3.6 4.8 3.0 3.9 6.3 –2.6 7.6 7.2 12.5 21.9 6.4 7.0 –2.5 –.4 –2.5 –2.3 3.4 4.3 9.7 –1.8 –1.5 –.8 2.3 .8 .8 .3 1.3 1.0 2.0 1.3 r 1.8 –2.5 3.5 6.7 4.0 9.3 5.1 7.8 7.2 3.3 1.4 –.8 1.0 .3 1.5 –0.2 4.1 4.7 8.0 8.2 13.5 10.0 7.4 –.8 1.0 –.4 –2.8 –2.3 7.1 10.8 5.9 14.5 6.8 9.7 9.0 2.9 2.2 –2.4 1.5 .8 3.5 –0.9 .1 –.4 .3 –.4 .0 1.3 1.0 .9 1.1 1.3 1.4 –.3 –2.0 2.2 4.3 4.5 4.2 5.9 5.4 5.1 2.7 4.2 3.1 4.0 4.3 Capital equipment Change, Dec. to Dec., NSA 2000 �������������������� 2001 �������������������� 2002 �������������������� 2003 �������������������� 2004 �������������������� 2005 �������������������� 2006 �������������������� 2007 �������������������� 2008 �������������������� 2009 �������������������� 3.6 –1.6 1.2 4.0 4.2 5.4 1.1 6.2 –.9 4.3 1.7 1.8 –.6 7.7 3.1 1.7 1.7 7.6 3.2 1.2 5.5 –3.9 2.9 4.1 5.5 8.8 .4 7.7 –4.8 7.4 Change, month to month 2009: Oct ����������� Nov ���������� Dec ����������� 2010: Jan ����������� Feb ����������� Mar ���������� Apr ����������� May ���������� June r ������� July ���������� Aug ���������� Sept ��������� Oct ����������� 0.2 1.5 .5 1.3 –.5 .8 –.1 –.3 –.4 .2 .4 .4 .4 1.3 .7 1.4 .2 .4 2.4 –.3 –.5 –2.6 r 1.1 –.3 1.2 –.1 0.2 2.3 .5 2.2 –1.1 .6 –.2 –.6 .1 –.1 .9 .3 1.2 Source: Department of Labor (Bureau of Labor Statistics). Changes in Consumer Prices—All Urban Consumers [Percent change from preceding period; monthly data seasonally adjusted, except as noted by NSA] Housing Period All items 1 Shelter Food Total 1 Total 1 Addendum: All items, percent change (annual rate) Transportation Fuels Rent Ownand of ers’ primary equiva- utilities resilent dence rent Apparel Total 1 New cars Motor fuel Medical care Energy 2 All items less food and energy From previous quarter 3 From From 3 6 months months earlier earlier From year earlier (NSA) Change, December to December, NSA 2000 �������������������� 2001 �������������������� 2002 �������������������� 2003 �������������������� 2004 �������������������� 2005 �������������������� 2006 �������������������� 2007 �������������������� 2008 �������������������� 2009 �������������������� 3.4 1.6 2.4 1.9 3.3 3.4 2.5 4.1 .1 2.7 2.8 2.8 1.5 3.6 2.7 2.3 2.1 4.9 5.9 –.5 4.3 2.9 2.4 2.2 3.0 4.0 3.3 3.0 2.4 –.3 3.4 4.2 3.1 2.2 2.7 2.6 4.2 3.1 1.9 .3 4.0 4.7 3.1 2.7 2.9 3.1 4.3 4.0 3.4 .7 3.4 4.5 3.3 2.0 2.3 2.5 4.3 2.8 2.1 .7 2009: Oct ����������� Nov ���������� Dec ����������� 2010: Jan ����������� Feb ����������� Mar ���������� Apr ����������� May ���������� June ��������� July ���������� Aug ���������� Sept ��������� Oct ����������� 0.2 .2 .2 .2 .0 .1 –.1 –.2 –.1 .3 .3 .1 .2 0.0 .1 .1 .2 .1 .2 .2 .0 .0 –.1 .2 .3 .1 0.1 .0 .0 –.3 .0 .0 –.1 .0 –.1 .1 .0 –.1 .1 0.0 –.2 .0 –.5 .0 –.1 .0 .1 .1 .1 .0 .0 .1 –0.1 –.1 .0 .0 .0 .1 .0 .0 .1 .1 –.1 .1 .1 0.0 –.1 .0 –.1 .0 –.1 .0 .0 .1 .1 .0 .0 .1 12.1 –2.1 1.4 6.5 7.9 15.6 .5 5.4 6.0 –3.0 –1.8 –3.2 –1.8 –2.1 –.2 –1.1 .9 –.3 –1.0 1.9 4.1 –3.8 3.8 .3 6.5 4.8 1.6 8.3 –13.3 14.4 0.3 .0 –2.0 –2.1 .5 .8 .2 –.4 –1.1 3.6 13.9 –24.8 24.6 6.8 26.1 16.2 6.4 29.5 –42.2 50.7 4.2 4.7 5.0 3.7 4.2 4.3 3.6 5.2 2.6 3.4 14.2 –13.0 10.7 6.9 16.6 17.1 2.9 17.4 –21.3 18.2 2.6 2.7 1.9 1.1 2.2 2.2 2.6 2.4 1.8 1.8 ����������� ����������� ����������� ����������� ����������� ����������� ����������� ����������� ����������� ����������� ����������� ����������� ����������� ����������� ����������� ����������� ����������� ����������� ����������� ����������� ����������� ����������� ����������� ����������� ����������� ����������� ����������� ����������� ����������� ����������� 3.4 2.8 1.6 2.3 2.7 3.4 3.2 2.8 3.8 –.4 0.9 1.3 .7 1.3 –.1 –.1 –.5 –1.2 –1.0 1.3 1.2 .5 1.2 1.4 1.0 –.2 –.8 .1 .0 –.2 .1 .0 .0 –.1 .4 –.3 0.3 2.8 1.7 4.8 –1.3 –1.1 –2.3 –5.0 –4.1 4.4 3.9 1.8 4.4 0.2 .3 .1 .5 .5 .3 .2 .1 .3 –.1 .2 .6 .1 0.6 2.2 .8 2.8 –.5 .0 –1.4 –2.9 –2.9 2.6 2.3 .7 2.6 0.2 .0 .1 –.1 .1 .0 .0 .1 .2 .1 .0 .0 .0 ����������� ����������� 2.6 ����������� ����������� 1.5 ����������� ����������� –.7 ����������� ����������� 1.5 ����������� 3.0 2.4 2.5 2.3 1.4 .9 .0 –.7 –1.5 .0 1.7 2.7 2.4 3.4 3.6 2.5 2.6 1.9 1.7 1.1 .3 –.3 .0 .5 .6 1.2 –0.2 1.8 2.7 2.6 2.1 2.3 2.2 2.0 1.1 1.2 1.1 1.1 1.2 Change, month to month 1 Includes items not shown separately. 2 Household fuels—gas (piped), electricity, fuel oil, etc.—and motor fuel. 24 0.9 1.2 –.1 .5 .5 1.1 –.2 –.4 –1.2 .6 .4 –.4 .4 –0.3 –.3 .4 –.1 –.7 –.4 –.7 .2 .8 .6 –.1 –.6 –.3 3 Quarterly changes are shown in the last month of the quarter. Source: Department of Labor (Bureau of Labor Statistics). Prices Received and Paid by Farmers In November, prices paid by farmers rose 1.1 percent and prices received by farmers rose 2.6 percent. (Data are not seasonally adjusted.) [1990–92=100; not seasonally adjusted] Prices received by farmers Period 2000 ��������������������������������������������������� 2001 ��������������������������������������������������� 2002 ��������������������������������������������������� 2003 ��������������������������������������������������� 2004 ��������������������������������������������������� 2005 ��������������������������������������������������� 2006 ��������������������������������������������������� 2007 ��������������������������������������������������� 2008 ��������������������������������������������������� 2009 ��������������������������������������������������� 2009: Nov ����������������������������������������� Dec ������������������������������������������ 2010: Jan ������������������������������������������ Feb ������������������������������������������ Mar ����������������������������������������� Apr ������������������������������������������ May ����������������������������������������� June ���������������������������������������� July ����������������������������������������� Aug ����������������������������������������� Sept ���������������������������������������� Oct r ����������������������������������������� Nov p ��������������������������������������� All farm products 96 99 105 110 115 110 120 142 169 150 154 150 152 147 154 150 152 147 150 156 159 168 177 1 Includes items not shown separately. 2 Percentage ratio of index of prices received by farmers to index of prices paid, interest, taxes, and wage rates. All commodities, services, interest, taxes, and wage rates 1 Livestock and products Crops 96 102 98 106 118 114 115 136 149 131 136 135 140 135 141 139 141 138 142 145 148 155 159 Prices paid by farmers 97 106 90 103 122 119 111 130 130 112 115 119 122 123 128 128 131 129 132 134 135 134 135 Production items, interest, taxes, and wage rates 119 123 124 128 134 142 150 161 183 179 178 178 183 182 182 183 183 182 182 182 183 186 188 117 121 121 125 133 141 150 162 188 182 181 182 187 186 185 187 187 186 186 186 187 190 193 Ratio 2 Production items 115 120 119 124 132 140 148 160 190 182 181 181 186 185 184 186 186 185 185 186 187 190 193 81 83 79 83 88 80 77 84 81 73 76 76 77 74 77 76 77 76 78 80 81 83 85 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 MONEY, CREDIT, AND SECURITY MARKETS Money Stock and Debt Measures In October, M2 rose. [Averages of daily figures, except debt end-of-period basis; billions of dollars, seasonally adjusted] Period 2000: Dec ������������������������������������������ 2001: Dec ������������������������������������������ 2002: Dec ������������������������������������������ 2003: Dec ������������������������������������������ 2004: Dec ������������������������������������������ 2005: Dec ������������������������������������������ 2006: Dec ������������������������������������������ 2007: Dec ������������������������������������������ 2008: Dec ������������������������������������������ 2009: Dec ������������������������������������������ 2009: Oct ������������������������������������������ Nov ����������������������������������������� Dec ������������������������������������������ 2010: Jan ������������������������������������������ Feb ������������������������������������������ Mar ����������������������������������������� Apr ������������������������������������������ May ����������������������������������������� June ���������������������������������������� July r ��������������������������������������� Aug ����������������������������������������� Sept r ��������������������������������������� Oct ������������������������������������������ M1 M2 Debt 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 Debt of domestic nonfinancial sectors 1 1,087.7 1,182.2 1,220.4 1,306.9 1,376.8 1,375.1 1,367.1 1,374.5 1,602.1 1,696.6 1,676.2 1,687.5 1,696.6 1,680.7 1,714.8 1,713.1 1,701.4 1,706.0 1,721.5 1,716.4 1,742.8 1,765.7 1,779.6 4,914.8 5,430.9 5,778.7 6,067.4 6,409.4 6,675.5 7,072.5 7,502.6 8,255.3 8,542.8 8,492.1 8,523.3 8,542.8 8,486.0 8,545.7 8,519.9 8,490.6 8,573.0 8,604.6 8,603.3 8,649.4 8,709.1 8,767.1 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. 26 18,166.1 19,298.3 20,716.9 22,444.7 24,442.9 26,767.6 29,179.1 31,708.7 33,615.6 34,640.2 ��������������������������������������������� ��������������������������������������������� 34,640.2 ��������������������������������������������� ��������������������������������������������� 35,035.9 ��������������������������������������������� ��������������������������������������������� 35,453.8 ��������������������������������������������� ��������������������������������������������� ��������������������������������������������� ��������������������������������������������� Percent change From year or 6 months earlier 2 M1 From previous period 3 M2 –3.1 8.7 3.2 7.1 5.3 –.1 –.6 .5 16.6 5.9 8.4 9.8 6.1 3.7 8.1 6.3 3.0 2.2 2.9 4.2 3.3 6.1 9.2 Debt 6.1 10.5 6.4 5.0 5.6 4.2 5.9 6.1 10.0 3.5 3.1 2.1 2.1 1.0 3.0 1.4 .0 1.2 1.4 2.8 2.4 4.4 6.5 5.0 6.3 7.4 8.1 8.8 9.5 9.0 8.6 6.0 3.0 ������������������������������� ������������������������������� .9 ������������������������������� ������������������������������� 4.5 ������������������������������� ������������������������������� 4.8 ������������������������������� ������������������������������� ������������������������������� ������������������������������� Note: The Federal Reserve no longer publishes the M3 monetary aggregate and most of its components. Institutional money market mutual funds continue to be published as a memorandum item in the H.6 release, and the component on large-denomination time deposits is 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. Components of Money Stock [Averages of daily figures; billions of dollars, seasonally adjusted] Period 2000: Dec ����������� 2001: Dec ����������� 2002: Dec ����������� 2003: Dec ����������� 2004: Dec ����������� 2005: Dec ����������� 2006: Dec ����������� 2007: Dec ����������� 2008: Dec ����������� 2009: Dec ����������� 2009: Oct ����������� Nov ���������� Dec ����������� 2010: Jan ����������� Feb ����������� Mar r �������� Apr r ��������� May r �������� June r ������� July r �������� Aug ���������� Sept r �������� Oct ����������� Nonbank travelers checks Currency 531.2 581.1 626.3 662.5 697.7 724.1 749.6 759.8 815.3 862.2 862.7 861.8 862.2 861.2 867.3 871.6 877.3 881.2 883.1 886.5 892.8 899.7 907.6 Other checkable deposits (OCDs) Demand deposits 8.3 8.0 7.8 7.7 7.5 7.2 6.7 6.3 5.5 5.1 5.1 5.1 5.1 5.1 5.1 5.0 5.0 4.9 4.8 4.7 4.7 4.7 4.8 At commercial banks Total 309.9 335.7 306.8 326.4 343.5 325.0 305.3 301.9 468.1 443.7 432.8 435.5 443.7 438.0 457.9 447.1 451.7 448.2 459.2 454.2 469.3 479.3 480.3 238.4 257.4 279.6 310.2 328.0 318.9 305.4 306.6 313.2 385.6 375.6 385.1 385.6 376.5 384.5 389.3 367.4 371.7 374.4 371.1 376.0 382.0 386.9 Savings deposits 1 At thrift institutions 133.2 142.0 154.3 175.2 187.0 180.9 177.0 173.4 179.2 234.1 226.1 236.4 234.1 221.6 228.0 235.0 214.2 216.2 223.0 220.5 224.3 228.2 228.2 105.2 115.4 125.3 135.0 141.1 138.0 128.4 133.2 134.0 151.4 149.6 148.7 151.4 154.9 156.6 154.3 153.2 155.5 151.4 150.6 151.7 153.8 158.8 1 Savings deposits including money market deposit accounts (MMDAs). 2 Small-denomination deposits are those issued in amounts of less than $100,000. 3 Institutional money funds are not part of non-M1 M2. Total 1,878.4 2,309.2 2,773.6 3,162.9 3,507.4 3,605.1 3,698.6 3,877.3 4,113.0 4,848.5 4,715.9 4,788.0 4,848.5 4,856.0 4,911.0 4,935.7 4,957.1 5,048.2 5,074.3 5,100.0 5,151.2 5,219.2 5,298.4 At commercial banks 1,424.4 1,738.5 2,060.0 2,338.1 2,631.7 2,775.9 2,914.4 3,048.4 3,340.2 4,007.0 3,861.7 3,952.4 4,007.0 4,010.0 4,050.6 4,064.8 4,092.1 4,168.0 4,187.0 4,209.5 4,253.5 4,315.4 4,384.5 Small-denomination time deposits 2 At thrift institutions 454.0 570.7 713.6 824.8 875.7 829.1 784.2 829.0 772.8 841.5 854.2 835.6 841.5 846.0 860.4 870.9 865.0 880.3 887.3 890.5 897.7 903.7 913.9 Total At commercial banks 1,046.0 974.6 894.7 818.1 828.3 993.6 1,205.5 1,275.0 1,455.2 1,172.9 1,234.4 1,202.3 1,172.9 1,144.3 1,127.0 1,106.2 1,086.8 1,068.6 1,051.5 1,036.0 1,017.9 992.9 967.8 700.8 636.1 591.3 541.9 552.0 646.7 780.4 858.2 1,076.7 854.2 906.0 880.2 854.2 829.8 816.2 799.2 784.4 770.4 757.6 745.3 730.7 710.3 689.8 At thrift institutions 345.3 338.5 303.5 276.1 276.3 346.9 425.1 416.8 378.5 318.7 328.3 322.1 318.7 314.5 310.9 307.1 302.4 298.2 293.9 290.7 287.2 282.7 278.0 Retail money funds 902.6 964.8 889.9 779.5 696.9 701.7 801.3 975.8 1,085.0 824.7 865.7 845.6 824.7 805.0 792.8 764.8 745.3 750.2 757.3 750.8 737.5 731.4 721.3 Institutional money funds 3 819.4 1,221.5 1,275.4 1,135.3 1,087.4 1,158.0 1,368.2 1,925.1 2,411.2 2,224.1 2,342.1 2,286.0 2,224.1 2,182.3 2,110.4 2,026.5 1,945.3 1,896.2 1,865.9 1,869.8 1,883.1 1,898.8 1,896.5 Note: See Note, p. 26. Source: Board of Governors of the Federal Reserve System. 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) Reserves of depository institutions Other borrowings from the Federal Reserve Period Total 2 2000: Dec r ��������� 2001: Dec r ��������� 2002: Dec r ��������� 2003: Dec r ��������� 2004: Dec r ��������� 2005: Dec r ��������� 2006: Dec r ��������� 2007: Dec r ��������� 2008: Dec r ��������� 2009: Dec r ��������� 2009: Nov r ��������� Dec r ��������� 2010: Jan r ��������� Feb r ��������� Mar r �������� Apr r ��������� May r �������� June r ������� July r �������� Aug r ��������� Sept r �������� Oct r ���������� Nov p �������� 38,703 41,402 40,319 42,618 46,547 45,101 43,234 43,274 820,375 1,139,002 1,140,795 1,139,002 1,108,995 1,224,790 1,185,964 1,116,368 1,109,412 1,099,258 1,087,162 1,085,607 1,048,360 1,040,214 1,038,737 Nonborrowed 3 38,493 41,336 40,240 42,572 46,484 44,932 43,042 27,843 166,810 969,075 923,488 969,075 966,852 1,113,563 1,094,320 1,036,143 1,033,787 1,029,361 1,021,315 1,025,524 995,839 991,641 992,048 Required 37,377 39,759 38,311 41,572 44,639 43,201 41,371 41,489 53,045 63,668 63,653 63,668 63,060 62,792 65,447 66,029 64,505 64,227 65,449 66,023 67,504 66,662 66,733 Excess (NSA) 1,325 1,643 2,008 1,046 1,908 1,900 1,862 1,784 767,330 1,075,335 1,077,143 1,075,335 1,045,935 1,161,998 1,120,517 1,050,339 1,044,908 1,035,031 1,021,714 1,019,584 980,855 973,552 972,005 Monetary base 584,868 635,440 681,504 720,238 759,260 787,466 812,389 824,469 1,654,228 2,018,027 2,019,194 2,018,027 1,986,885 2,109,173 2,074,878 2,009,933 2,007,201 1,998,986 1,989,991 1,994,243 1,963,317 1,963,390 1,969,200 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. Total 4 210 67 80 46 63 169 191 15,431 653,566 169,927 217,307 169,927 142,142 111,227 91,644 80,225 75,626 69,897 65,847 60,083 52,521 48,573 46,689 Term auction credit Primary ������������������ ������������������ ������������������ ������������������ ������������������ ������������������ ������������������ 17 ������������������ 11 ������������������ 97 ������������������ 111 11,613 3,787 438,327 88,245 82,014 19,025 110,049 20,434 82,014 19,025 54,209 16,407 23,677 14,258 7,286 11,136 796 6,468 0 4,198 0 288 0 39 0 22 0 32 0 37 0 89 Primary dealer and other brokerdealer credit 5 ������������������ ������������������ ������������������ ������������������ ������������������ ������������������ ������������������ ������������������ 47,631 0 0 0 0 0 ������������������ ������������������ ������������������ ������������������ ������������������ ������������������ ������������������ ������������������ ������������������ Assetbacked Credit commercial extended paper to money American market International mutual Group, fund Inc. liquidity facility ������������������ ������������������ ������������������ ������������������ ������������������ ������������������ ������������������ ������������������ 32,102 0 0 0 0 0 ������������������ ������������������ ������������������ ������������������ ������������������ ������������������ ������������������ ������������������ ������������������ ������������������ ������������������ ������������������ ������������������ ������������������ ������������������ ������������������ ������������������ 47,206 22,023 43,222 22,023 23,213 25,544 25,252 25,739 26,397 25,937 24,185 22,064 19,791 19,478 19,912 Term assetbacked securities loan facility, net 6 �������������������� �������������������� �������������������� �������������������� �������������������� �������������������� �������������������� �������������������� �������������������� 46,310 43,497 46,310 47,342 46,874 47,306 46,617 44,565 43,401 41,548 37,913 32,620 29,012 26,665 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 Includes credit extended by the Federal Reserve Bank of New York to eligible borrowers through the Term Asset-Backed Securities Loan Facility, net of unamortized deferred administrative fees. Source: Board of Governors of the Federal Reserve System. 27 Bank Credit at All Commercial Banks Total commercial bank loans and leases fell 0.1 percent in October. [Billions of dollars, seasonally adjusted 1] Securities in bank credit 2 Period 2000: Dec ����������� 2001: Dec ����������� 2002: Dec ����������� 2003: Dec ����������� 2004: Dec ����������� 2005: Dec ����������� 2006: Dec ����������� 2007: Dec ����������� 2008: Dec ����������� 2009: Dec ����������� 2009: Oct ����������� Nov ���������� Dec ����������� 2010: Jan ����������� Feb ����������� Mar ���������� Apr ����������� May ���������� June ��������� July r �������� Aug r ��������� Sept r �������� Oct ����������� Total bank credit 5,030.9 5,213.8 5,642.8 6,003.0 6,574.0 7,292.6 8,078.0 8,882.3 9,355.5 8,999.2 8,974.7 9,033.6 8,999.2 8,936.8 8,879.0 8,941.5 9,264.8 9,210.5 9,167.8 9,211.4 9,227.2 9,228.0 9,241.3 Total securities 1,196.2 1,328.7 1,516.8 1,646.0 1,739.0 1,850.7 1,981.1 2,099.4 2,101.7 2,330.9 2,294.5 2,303.7 2,330.9 2,333.9 2,335.5 2,324.7 2,330.1 2,312.4 2,295.1 2,359.3 2,391.6 2,433.3 2,452.6 U.S. Treasury and agency securities 780.7 837.8 1,002.6 1,086.1 1,143.4 1,133.5 1,185.7 1,107.6 1,238.1 1,438.2 1,387.8 1,401.5 1,438.2 1,438.6 1,449.9 1,461.5 1,508.4 1,506.2 1,496.4 1,548.8 1,570.8 1,609.7 1,634.2 Loans and leases in bank credit Real estate loans Other securities 415.5 490.9 514.2 559.9 595.6 717.3 795.4 991.8 863.6 892.7 906.7 902.2 892.7 895.3 885.6 863.2 821.7 806.2 798.7 810.5 820.8 823.6 818.5 Total loans and leases 3 3,834.7 3,885.0 4,126.0 4,357.0 4,834.9 5,441.9 6,096.9 6,782.9 7,253.8 6,668.3 6,680.2 6,729.9 6,668.3 6,602.9 6,543.5 6,616.9 6,934.8 6,898.1 6,872.7 6,852.1 6,835.5 6,794.7 6,788.7 1 Data are prorated averages of Wednesday values for domestically chartered commercial banks, branches and agencies of foreign banks, and Edge Act and agreement corporations. 2 Includes securities held in trading accounts, held-to-maturity, and available-for-sale. Excludes all non-security trading assets, such as derivatives with a positive fair value or loans held in trading accounts. 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. Includes all loans held in trading accounts under a fair value option. 28 Commercial and industrial loans 1,087.3 1,023.8 961.7 888.7 912.7 1,043.3 1,191.9 1,430.6 1,585.3 1,293.6 1,330.8 1,314.9 1,293.6 1,268.6 1,251.7 1,240.0 1,240.6 1,230.5 1,226.1 1,225.4 1,223.8 1,218.1 1,218.9 Total 4 1,638.2 1,758.2 2,009.3 2,206.9 2,552.5 2,922.3 3,364.1 3,591.0 3,816.5 3,777.1 3,737.0 3,801.2 3,777.1 3,756.1 3,720.6 3,706.0 3,715.5 3,700.9 3,681.6 3,656.7 3,648.5 3,634.7 3,618.5 Revolving home equity loans 129.5 154.0 212.5 278.5 395.2 443.0 467.7 484.3 588.5 602.0 600.6 603.9 602.0 599.7 599.3 600.9 603.6 600.2 597.6 596.3 594.4 591.5 587.2 Commercial loans ��������������������� ��������������������� ��������������������� ��������������������� 1,081.9 1,272.0 1,459.5 1,583.2 1,726.1 1,639.7 1,665.2 1,656.6 1,639.7 1,626.0 1,617.7 1,608.2 1,598.3 1,586.0 1,573.9 1,560.3 1,549.6 1,535.6 1,517.7 4 Includes closed-end residential loans, not shown separately. 5 Includes credit cards and other consumer loans. 6 Includes other items, not shown separately. Source: Board of Governors of the Federal Reserve System. Consumer loans 5 532.0 550.0 578.9 635.4 685.6 697.0 730.8 792.1 859.5 830.4 843.0 838.7 830.4 814.6 812.8 893.1 1,176.7 1,168.9 1,167.4 1,167.1 1,162.4 1,146.0 1,140.6 Other loans and leases 6 577.3 553.0 576.2 625.9 684.2 779.3 810.1 969.1 992.5 767.1 769.4 775.2 767.1 763.6 758.4 777.8 802.0 797.8 797.6 802.8 800.9 796.0 810.7 Sources and Uses of Funds, Nonfarm Nonfinancial Corporate Business [Billions of dollars; quarterly data at seasonally adjusted annual rates] Sources Uses External (Net increase in liabilities) Funds raised in markets Period Total 2000 �������������������� 2001 �������������������� 2002 �������������������� 2003 �������������������� 2004 �������������������� 2005 �������������������� 2006 �������������������� 2007 �������������������� 2008 �������������������� 2009 �������������������� 2008: I ���������������� II ��������������� III �������������� IV �������������� 2009: I ���������������� II ��������������� III �������������� IV �������������� 2010: I ���������������� II p ������������� Internal 1 1,972.0 862.3 906.7 851.9 1,551.0 2,049.8 1,925.3 2,335.7 1,656.3 1,305.4 1,515.6 1,521.1 1,899.3 1,689.1 1,297.6 1,098.3 1,340.0 1,485.7 1,630.1 1,939.1 734.6 767.1 821.8 838.5 942.0 1,088.6 1,088.8 1,058.4 1,069.2 1,048.5 1,015.5 995.9 1,172.0 1,093.3 1,043.3 997.6 1,065.0 1,088.2 1,152.5 1,187.2 Total net funds raised Total 1,237.4 95.2 84.9 13.4 609.0 961.2 836.5 1,277.3 587.1 256.9 500.1 525.2 727.3 595.8 254.3 100.7 275.0 397.5 477.6 751.9 244.5 161.0 17.3 47.7 74.0 –18.1 –98.6 –34.6 27.1 –66.9 161.1 311.8 –25.0 –339.6 47.3 129.2 –55.8 –388.1 168.6 90.2 Net new equity issues –118.2 –48.1 –16.2 –39.6 –122.7 –341.8 –565.7 –786.8 –336.0 –64.7 –430.0 –218.2 –342.8 –352.9 –133.1 126.4 65.7 –318.0 –200.8 –182.6 Credit market instruments Total Securities and mortgages Loans and short-term paper 187.1 398.6 166.6 216.9 132.3 256.9 303.0 367.4 232.6 347.6 297.1 411.3 61.1 160.8 600.2 385.8 207.1 197.4 365.3 146.7 175.6 –189.4 –133.0 –129.5 64.4 66.9 164.0 384.9 130.6 –349.8 294.0 118.8 256.7 –147.6 –419.9 –383.0 –328.6 –267.5 4.0 126.1 362.7 209.2 33.6 87.3 196.6 323.7 467.1 752.2 363.0 –2.1 591.1 530.1 317.8 13.2 180.4 2.8 –121.5 –70.1 369.4 272.8 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). Total Other 2 992.9 –65.7 67.5 –34.2 535.2 979.3 935.0 1,311.9 560.0 323.7 339.0 213.3 752.3 935.5 206.9 –28.5 330.8 785.6 309.1 661.8 Capital expenditures 3 2,153.8 1,000.1 902.8 866.2 1,638.2 1,909.5 1,811.1 2,227.1 1,131.9 1,226.3 1,348.6 1,449.8 1,122.7 606.6 949.6 1,063.3 1,473.5 1,419.1 1,715.1 1,811.0 953.0 828.0 767.0 782.5 861.6 965.8 1,112.8 1,156.5 1,112.7 803.9 1,155.3 1,154.1 1,120.1 1,021.4 850.3 751.6 769.3 844.5 936.8 998.4 Increase in financial assets 1,200.8 172.1 135.8 83.7 776.6 943.7 698.3 1,070.6 19.2 422.4 193.3 295.7 2.6 –414.8 99.3 311.7 704.2 574.6 778.3 812.6 Discrepancy (sources less uses) –181.8 –137.8 3.9 –14.4 –87.1 140.2 114.2 108.6 524.3 79.0 166.9 71.3 776.5 1,082.6 348.0 35.0 –133.4 66.6 –84.9 128.1 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] Net change in consumer credit outstanding 1 Consumer credit outstanding (end of period) Period Total 2000: Dec ������������������������������������������ 2001: Dec ������������������������������������������ 2002: Dec ������������������������������������������ 2003: Dec ������������������������������������������ 2004: Dec ������������������������������������������ 2005: Dec ������������������������������������������ 2006: Dec ������������������������������������������ 2007: Dec ������������������������������������������ 2008: Dec ������������������������������������������ 2009: Dec ������������������������������������������ 2009: Sept ���������������������������������������� Oct ������������������������������������������ Nov ����������������������������������������� Dec ������������������������������������������ 2010: Jan ������������������������������������������ Feb ������������������������������������������ Mar ����������������������������������������� Apr ������������������������������������������ May ����������������������������������������� June ���������������������������������������� July ����������������������������������������� Aug ����������������������������������������� Sept p �������������������������������������� Nonrevolving 2 Revolving 1,717.0 1,866.5 1,971.2 2,076.9 2,192.1 2,291.0 2,384.8 2,522.2 2,561.1 2,449.4 2,483.7 2,476.0 2,457.4 2,449.4 2,451.4 2,443.6 2,437.7 2,431.9 2,423.5 2,419.9 2,414.5 2,409.6 2,411.7 682.6 714.6 750.8 768.2 799.5 829.6 871.0 941.8 957.5 865.8 893.5 885.7 874.6 865.8 859.0 851.2 847.5 841.6 837.4 832.2 827.2 822.2 813.9 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. 1,034.3 1,151.9 1,220.5 1,308.7 1,392.6 1,461.5 1,513.8 1,580.4 1,603.6 1,583.5 1,590.2 1,590.3 1,582.9 1,583.5 1,592.4 1,592.4 1,590.2 1,590.3 1,586.1 1,587.7 1,587.3 1,587.4 1,597.8 Total Nonrevolving 2 Revolving 185.9 149.5 104.7 105.7 115.2 98.9 93.8 137.4 38.9 –111.7 –7.8 –7.7 –18.6 –8.0 2.0 –7.8 –5.9 –5.8 –8.4 –3.6 –5.4 –4.9 2.1 71.9 32.0 36.2 17.4 31.3 30.1 41.4 70.8 15.7 –91.7 –8.4 –7.8 –11.1 –8.8 –6.8 –7.8 –3.7 –5.9 –4.2 –5.2 –5.0 –5.0 –8.3 113.9 117.6 68.6 88.2 83.9 68.9 52.3 66.6 23.2 –20.1 .6 .1 –7.4 .6 8.9 .0 –2.2 .1 –4.2 1.6 –.4 .1 10.4 Note: Data include student loans extended by the Federal Government and by SLM Holding Corporation. Source: Board of Governors of the Federal Reserve System. 29 Interest Rates and Bond Yields Overall, interest rates rose in November. [Percent per annum] U.S. Treasury security yields Period 3-month bills (at auction) 1 Constant maturities 2 3-year 10-year 30-year High-grade municipal bonds (Standard & Poor’s) 3 Corporate Aaa bonds (Moody’s) Discount window (N.Y. F.R. Bank) 4, 5 Primary credit 2000 �������������������� 2001 �������������������� 2002 �������������������� 2003 �������������������� 2004 �������������������� 2005 �������������������� 2006 �������������������� 2007 �������������������� 2008 �������������������� 2009 �������������������� 2009: Nov ���������� Dec ����������� 2010: Jan ����������� Feb ����������� Mar ���������� Apr ����������� May ���������� June ��������� July ���������� Aug ���������� Sept ��������� Oct ����������� Nov ���������� 5.85 3.44 1.62 1.01 1.38 3.16 4.73 4.41 1.48 .16 .06 .07 .06 .10 .15 .15 .16 .12 .16 .15 .15 .13 .13 6.22 4.09 3.10 2.10 2.78 3.93 4.77 4.35 2.24 1.43 1.32 1.38 1.49 1.40 1.51 1.64 1.32 1.17 .98 .78 .74 .57 .67 6.03 5.02 4.61 4.01 4.27 4.29 4.80 4.63 3.66 3.26 3.40 3.59 3.73 3.69 3.73 3.85 3.42 3.20 3.01 2.70 2.65 2.54 2.76 5.94 5.49 5.43 * * * 4.91 4.84 4.28 4.08 4.31 4.49 4.60 4.62 4.64 4.69 4.29 4.13 3.99 3.80 3.77 3.87 4.19 5.77 5.19 5.05 4.73 4.63 4.29 4.42 4.42 4.80 4.64 4.35 4.16 4.22 4.23 4.22 4.24 4.15 4.18 4.11 3.91 3.76 3.83 4.30 7.62 ��������������������� 7.08 ��������������������� 6.49 ��������������������� 5.67 2.12 5.63 2.34 5.24 4.19 5.59 5.96 5.56 5.86 5.63 2.39 5.31 .50 5.19 .50 5.26 .50 5.26 .50 5.35 .75 5.27 .75 5.29 .75 4.96 .75 4.88 .75 4.72 .75 4.49 .75 4.53 .75 4.68 .75 4.87 .75 Week ended: 2010: Nov 6 ������ 13 ������ 20 ������ 27 ������ Dec 4 ������ .13 .13 .14 .14 .18 .49 .65 .78 .75 .80 2.61 2.68 2.89 2.84 2.93 4.04 4.22 4.30 4.22 4.22 3.98 4.17 4.64 4.40 4.40 4.75 4.90 4.98 4.90 4.90 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. 30 .75 .75 .75 .75 .75 Prime rate charged by banks 5 Discount rate 5.73 3.40 1.17 * * * * * * * * * * * * * * * * * * * * 9.23 6.91 4.67 4.12 4.34 6.19 7.96 8.05 5.09 3.25 3.25 3.25 3.25 3.25 3.25 3.25 3.25 3.25 3.25 3.25 3.25 3.25 3.25 * * * * * 3.25 3.25 3.25 3.25 3.25 New-home mortgage yields (FHFA) 7 Federal funds rate 6 6.24 7.52 3.88 7.00 1.67 6.43 1.13 5.80 1.35 5.77 3.22 5.94 4.97 6.63 5.02 6.41 1.92 6.05 .16 5.14 .12 5.08 .12 5.01 .11 5.04 .13 5.08 .16 5.09 .20 5.21 .20 5.12 .18 5.00 .18 4.87 .19 4.67 .19 4.52 .19 4.40 .19 ����������������������� .20 .18 .19 .20 .20 ����������������������� ����������������������� ����������������������� ����������������������� ����������������������� 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 Agency, Moody’s Investors Service, and Standard & Poor’s. Common Stock Prices and Yields Stock prices were mixed in November. Common stock yields (percent) 7 Common stock prices 1 New York Stock Exchange indexes (December 31, 2002=5,000) 2, 3 Period Composite 2000 ��������������������� 2001 ��������������������� 2002 ��������������������� 2003 ��������������������� 2004 ��������������������� 2005 ��������������������� 2006 ��������������������� 2007 ��������������������� 2008 ��������������������� 2009 ��������������������� 2009: Nov ����������� Dec ������������ 2010: Jan ������������ Feb ������������ Mar ����������� Apr ������������ May ����������� June ���������� July ����������� Aug ����������� Sept ���������� Oct ������������ Nov ����������� Week ended: 2010: Nov 6 ������� 13 ������� 20 ������� 27 ������� Dec 4 ������� Financial Energy Health Care Dow Jones industrial average 4 Standard & Poor’s composite index (1941–43=10) 5 Nasdaq composite index (Feb. 5, 1971=100) 6 Dividend/price ratio Earnings/price ratio 6,805.89 �������������������������� �������������������������� �������������������������� 6,397.85 �������������������������� �������������������������� �������������������������� 5,578.89 �������������������������� �������������������������� �������������������������� 5,547.46 5,583.00 5,273.90 5,288.67 6,612.62 6,822.18 6,952.36 5,924.80 7,349.00 7,383.70 9,377.84 6,283.96 8,357.99 8,654.40 11,206.94 6,685.06 9,648.82 9,321.39 13,339.99 7,191.79 8,036.88 6,278.38 13,258.42 6,171.19 6,091.02 3,987.04 10,020.30 5,456.63 7,079.38 4,848.04 11,486.95 6,155.21 7,167.51 4,734.07 11,335.23 6,430.25 7,257.37 4,795.75 11,548.08 6,523.83 6,958.36 4,567.29 10,840.96 6,320.43 7,349.86 4,942.17 11,194.52 6,453.81 7,607.49 5,187.03 11,690.25 6,391.99 7,010.08 4,689.81 10,491.24 5,929.68 6,767.75 4,484.05 9,960.54 5,838.56 6,814.61 4,553.76 10,007.16 5,867.77 6,922.30 4,588.87 10,186.03 5,939.69 7,149.32 4,694.66 10,423.43 6,208.29 7,482.15 4,778.71 11,164.11 6,456.56 7,608.40 4,770.65 11,639.37 6,389.44 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 8,876.15 10,227.55 10,433.44 10,471.24 10,214.51 10,677.52 11,052.15 10,500.19 10,159.27 10,222.24 10,350.40 10,598.07 11,044.49 11,198.31 1,427.22 1,194.18 993.94 965.23 1,130.65 1,207.23 1,310.46 1,477.19 1,220.04 948.05 1,088.07 1,110.38 1,123.58 1,089.16 1,152.05 1,197.32 1,125.06 1,083.36 1,079.80 1,087.28 1,122.08 1,171.58 1,198.89 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 1,845.38 2,143.53 2,220.60 2,267.77 2,194.44 2,362.24 2,475.72 2,319.24 2,235.23 2,210.27 2,205.28 2,298.35 2,441.30 2,530.99 1.15 1.32 1.61 1.77 1.72 1.83 1.87 1.86 2.37 2.40 1.99 1.95 1.92 2.00 1.90 1.84 1.98 2.09 2.10 2.10 2.06 1.97 1.94 3.63 2.95 2.92 3.84 4.89 5.36 5.78 5.29 3.54 1.86 ���������������������������� 4.57 ���������������������������� ���������������������������� 5.21 ���������������������������� ���������������������������� 6.51 ���������������������������� ���������������������������� p 6.30 ���������������������������� ���������������������������� 7,656.57 7,715.69 7,567.98 7,540.22 7,596.37 11,281.48 11,317.26 11,123.63 11,123.56 11,211.76 1,204.56 1,213.62 1,190.22 1,191.58 1,204.12 2,546.99 2,559.11 2,498.44 2,526.16 2,548.74 1.93 1.91 1.98 1.95 1.93 ���������������������������� ���������������������������� ���������������������������� ���������������������������� ���������������������������� 4,843.65 4,875.89 4,753.08 4,655.78 4,697.91 11,582.71 11,848.96 11,623.37 11,559.64 11,710.00 6,495.37 6,449.30 6,350.42 6,319.00 6,281.78 1 Average of daily closing prices. 2 Includes all the stocks (in 2009, over 3,800) listed on the NYSE. 3 Effective January 9, 2003, the NYSE relaunched the composite index with changes in meth- odology, 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. 5 Includes 500 stocks. 6 Includes about 2,700 stocks in 2009. 7 Standard & Poor’s series. Dividend/price ratios based on Wednesday closing prices. Earnings/ price ratios based on prices at end of quarter. Sources: New York Stock Exchange, Dow Jones & Company, Inc., Standard & Poor’s, and Nasdaq Stock Market. 31 FEDERAL FINANCE Federal Receipts, Outlays, and Debt In the first month of fiscal 2011, the deficit was $140.4 billion, compared with $176.4 billion a year earlier. [Billions of dollars] Total Fiscal year or period Receipts 1992 ���������������������������������������������������� 1993 ���������������������������������������������������� 1994 ���������������������������������������������������� 1995 ���������������������������������������������������� 1996 ���������������������������������������������������� 1997 ���������������������������������������������������� 1998 ���������������������������������������������������� 1999 ���������������������������������������������������� 2000 ���������������������������������������������������� 2001 ���������������������������������������������������� 2002 ���������������������������������������������������� 2003 ���������������������������������������������������� 2004 ���������������������������������������������������� 2005 ���������������������������������������������������� 2006 ���������������������������������������������������� 2007 ���������������������������������������������������� 2008 ���������������������������������������������������� 2009 ���������������������������������������������������� 2010 1 �������������������������������������������������� 2011 (estimates) ��������������������������������� First month: 2 Fiscal year 2010 ���������������������������������� Fiscal year 2011 ���������������������������������� Outlays On-budget Surplus or deficit (–) Receipts Outlays Federal debt (end of period) Off-budget Surplus or deficit (–) Receipts Outlays Surplus or deficit (–) Gross Federal 1,091.2 1,154.3 1,258.6 1,351.8 1,453.1 1,579.2 1,721.7 1,827.5 2,025.2 1,991.1 1,853.1 1,782.3 1,880.1 2,153.6 2,406.9 2,568.0 2,524.0 2,105.0 2,161.7 2,425.7 1,381.5 1,409.4 1,461.8 1,515.8 1,560.5 1,601.1 1,652.5 1,701.8 1,789.0 1,862.9 2,010.9 2,159.9 2,292.9 2,472.0 2,655.1 2,728.7 2,982.6 3,517.7 3,455.8 3,841.9 –290.3 –255.1 –203.2 –164.0 –107.4 –21.9 69.3 125.6 236.2 128.2 –157.8 –377.6 –412.7 –318.3 –248.2 –160.7 –458.6 –1,412.7 –1,294.1 –1,416.2 788.8 842.4 923.6 1,000.7 1,085.6 1,187.3 1,305.9 1,383.0 1,544.6 1,483.6 1,337.8 1,258.5 1,345.4 1,576.1 1,798.5 1,932.9 1,866.0 1,451.0 1,530.1 1,763.8 1,129.2 1,142.8 1,182.4 1,227.1 1,259.6 1,290.5 1,335.9 1,381.1 1,458.2 1,516.1 1,655.2 1,796.9 1,913.3 2,069.8 2,233.0 2,275.1 2,507.8 3,000.7 2,901.2 3,259.2 –340.4 –300.4 –258.8 –226.4 –174.0 –103.2 –29.9 1.9 86.4 –32.4 –317.4 –538.4 –568.0 –493.6 –434.5 –342.2 –641.9 –1,549.7 –1,371.1 –1,495.4 302.4 311.9 335.0 351.1 367.5 392.0 415.8 444.5 480.6 507.5 515.3 523.8 534.7 577.5 608.4 635.1 658.0 654.0 631.7 661.9 252.3 266.6 279.4 288.7 300.9 310.6 316.6 320.8 330.8 346.8 355.7 363.0 379.5 402.2 422.1 453.6 474.8 517.0 554.7 582.7 50.1 45.3 55.7 62.4 66.6 81.4 99.2 123.7 149.8 160.7 159.7 160.8 155.2 175.3 186.3 181.5 183.3 137.0 77.0 79.2 4,001.8 4,351.0 4,643.3 4,920.6 5,181.5 5,369.2 5,478.2 5,605.5 5,628.7 5,769.9 6,198.4 6,760.0 7,354.7 7,905.3 8,451.4 8,950.7 9,986.1 11,875.9 13,526.6 15,265.2 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 5,803.1 7,544.7 9,017.8 10,549.5 135.3 146.0 311.7 286.4 –176.4 –140.4 88.7 99.7 258.6 232.3 –170.0 –132.6 46.6 46.2 53.0 54.1 –6.4 –7.9 11,860.6 13,635.5 7,483.3 9,065.6 1 Data for fiscal year 2010 are from Final Monthly Treasury Statement issued October 15, 2010. 2 Data from current issue Monthly Treasury Statement. Note: Data for fiscal year 2011 are from Mid-Session Review, Budget of the U.S. Government, Fiscal Year 2011, issued July 23, 2010. Other data (except as noted) are from Budget of the United States Government, Fiscal Year 2011, issued February 1, 2010. Sources: Department of the Treasury and Office of Management and Budget. 32 Held by the public Federal Receipts by Source and Outlays by Function In the first month of fiscal 2011, receipts were $10.7 billion higher than a year earlier and outlays were $25.3 billion lower. [Billions of dollars] On-budget and off-budget receipts Fiscal year or period 1992 ���������������������������������������������������� 1993 ���������������������������������������������������� 1994 ���������������������������������������������������� 1995 ���������������������������������������������������� 1996 ���������������������������������������������������� 1997 ���������������������������������������������������� 1998 ���������������������������������������������������� 1999 ���������������������������������������������������� 2000 ���������������������������������������������������� 2001 ���������������������������������������������������� 2002 ���������������������������������������������������� 2003 ���������������������������������������������������� 2004 ���������������������������������������������������� 2005 ���������������������������������������������������� 2006 ���������������������������������������������������� 2007 ���������������������������������������������������� 2008 ���������������������������������������������������� 2009 ���������������������������������������������������� 2010 1 �������������������������������������������������� 2011 (estimates) ��������������������������������� First month: 2 Fiscal year 2010 ���������������������������������� Fiscal year 2011 ���������������������������������� Total Indi- Corporavidual tion income income taxes taxes Social insurance and retirement receipts On-budget and off-budget outlays National defense Other Total Total Depart- Internament tional of affairs Defense, military Health Medicare Income Social Net security security interest Other 1,091.2 1,154.3 1,258.6 1,351.8 1,453.1 1,579.2 1,721.7 1,827.5 2,025.2 1,991.1 1,853.1 1,782.3 1,880.1 2,153.6 2,406.9 2,568.0 2,524.0 2,105.0 2,161.7 2,425.7 476.0 509.7 543.1 590.2 656.4 737.5 828.6 879.5 1,004.5 994.3 858.3 793.7 809.0 927.2 1,043.9 1,163.5 1,145.7 915.3 898.5 1,031.9 100.3 117.5 140.4 157.0 171.8 182.3 188.7 184.7 207.3 151.1 148.0 131.8 189.4 278.3 353.9 370.2 304.3 138.2 191.4 280.4 413.7 428.3 461.5 484.5 509.4 539.4 571.8 611.8 652.9 694.0 700.8 713.0 733.4 794.1 837.8 869.6 900.2 890.9 864.8 916.4 101.3 98.8 113.7 120.1 115.4 120.1 132.6 151.5 160.6 151.8 146.0 143.9 148.4 154.0 171.2 164.7 173.8 160.5 207.0 197.0 1,381.5 1,409.4 1,461.8 1,515.8 1,560.5 1,601.1 1,652.5 1,701.8 1,789.0 1,862.9 2,010.9 2,159.9 2,292.9 2,472.0 2,655.1 2,728.7 2,982.6 3,517.7 3,455.8 3,841.9 298.3 291.1 281.6 272.1 265.7 270.5 268.2 274.8 294.4 304.7 348.5 404.7 455.8 495.3 521.8 551.3 616.1 661.0 696.1 752.2 286.8 278.5 268.6 259.4 253.1 258.3 255.8 261.2 281.0 290.2 331.8 387.1 436.4 474.1 499.3 528.5 594.6 636.7 666.7 723.7 16.1 17.2 17.1 16.4 13.5 15.2 13.1 15.2 17.2 16.5 22.3 21.2 26.9 34.6 29.5 28.5 28.9 37.5 45.2 55.3 89.5 99.4 107.1 115.4 119.4 123.8 131.4 141.0 154.5 172.2 196.5 219.5 240.1 250.5 252.7 266.4 280.6 334.3 369.0 394.8 119.0 130.6 144.7 159.9 174.2 190.0 192.8 190.4 197.1 217.4 230.9 249.4 269.4 298.6 329.9 375.4 390.8 430.1 451.6 494.7 199.6 210.0 217.2 223.8 229.7 235.0 237.8 242.5 253.7 269.8 312.7 334.6 333.1 345.8 352.5 366.0 431.3 533.2 623.9 581.5 287.6 304.6 319.6 335.8 349.7 365.3 379.2 390.0 409.4 433.0 456.0 474.7 495.5 523.3 548.5 586.2 617.0 683.0 706.7 735.8 199.3 198.7 202.9 232.1 241.1 244.0 241.1 229.8 222.9 206.2 170.9 153.1 160.2 184.0 226.6 237.1 252.8 186.9 197.0 220.9 172.1 157.9 171.5 160.2 167.2 157.3 188.9 218.1 239.7 243.2 273.1 302.6 311.8 339.8 393.5 317.9 365.2 651.6 366.3 606.8 135.3 146.0 61.2 71.4 –4.5 –4.4 63.3 63.1 15.3 15.9 311.7 286.4 70.2 68.0 67.8 65.4 3.9 3.0 30.3 30.9 52.6 37.2 45.0 42.4 57.6 59.7 17.9 18.3 34.1 26.9 1 Data for fiscal year 2010 are from Final Monthly Treasury Statement issued October 15, 2010. 2 Data from current issue Monthly Treasury Statement. Data for Department of Defense, military, include a small amount that is classified and listed under international affairs, and not included in national defense. Note: Data for fiscal year 2011 are from Mid-Session Review, Budget of the U.S. Government, Fiscal Year 2011, issued July 23, 2010. Other data (except as noted) are from Budget of the United States Government, Fiscal Year 2011, issued February 1, 2010. Sources: Department of the Treasury and Office of Management and Budget. 33 Federal Sector, National Income Accounts Basis In the third quarter of 2010, according to current estimates, Federal current receipts rose $57.2 billion (annual rate), while Federal current expenditures rose $58.7 billion. [Billions of dollars; quarterly data at seasonally adjusted annual rates] Federal Government current receipts Current tax receipts Period Calendar year: 2000 ������������� 2001 ������������� 2002 ������������� 2003 ������������� 2004 ������������� 2005 ������������� 2006 ������������� 2007 ������������� 2008 ������������� 2009 ������������� 2007: I ��������������� II �������������� III ������������� IV ������������� 2008: I ��������������� II �������������� III ������������� IV ������������� 2009: I ��������������� II �������������� III ������������� IV ������������� 2010: I ��������������� II r ������������ III r ����������� Total 2,057.1 2,020.3 1,859.3 1,885.1 2,013.9 2,290.1 2,524.5 2,654.7 2,503.1 2,205.8 2,642.8 2,658.5 2,651.5 2,666.1 2,640.7 2,412.6 2,506.1 2,452.9 2,223.9 2,191.2 2,176.3 2,231.7 2,322.8 2,364.7 2,421.9 Total 1 1,309.6 1,249.4 1,073.5 1,070.2 1,153.8 1,383.7 1,558.3 1,637.6 1,447.8 1,142.4 1,637.2 1,648.6 1,632.6 1,632.0 1,588.1 1,359.8 1,452.7 1,390.5 1,169.1 1,113.0 1,121.3 1,166.2 1,253.6 1,281.1 1,326.2 Personal current taxes 995.6 991.8 828.6 774.2 799.2 931.9 1,049.9 1,165.6 1,102.8 852.7 1,136.5 1,155.1 1,174.2 1,196.4 1,198.7 984.3 1,109.0 1,119.1 912.8 847.7 827.0 823.4 843.2 868.5 886.2 Taxes on production and imports 87.3 85.3 86.8 89.3 94.3 98.8 99.4 94.5 96.0 94.4 94.1 94.5 95.2 94.2 96.2 97.9 96.2 93.6 87.2 96.4 97.0 97.1 100.6 106.6 109.1 Contributions Income for Taxes govern- receipts on on ment assets corporate social income insurance 219.4 164.7 150.5 197.8 250.3 341.0 395.0 362.8 232.2 182.1 392.8 384.0 349.1 325.4 278.0 262.0 231.2 157.4 154.9 155.7 184.4 233.2 297.1 293.2 319.1 698.6 723.3 739.3 762.8 807.6 852.6 904.6 945.3 972.4 953.5 938.4 940.1 944.9 957.8 974.2 973.1 974.4 967.8 948.0 954.9 953.5 957.4 970.6 984.7 992.4 1 Includes taxes from the rest of the world, not shown separately. 2 Includes an item for the difference between wage accruals and disbursements, not shown separately. 34 Federal Government current expenditures 24.5 24.5 20.3 22.8 23.2 23.7 26.1 29.8 31.7 46.2 28.2 29.0 30.3 31.5 31.4 33.1 32.1 30.1 40.4 48.6 46.0 50.0 41.8 44.0 47.6 Current transfer receipts 25.7 27.0 26.1 25.6 29.0 33.6 38.3 44.8 55.0 67.9 43.5 43.6 44.5 47.6 50.2 50.4 50.3 68.9 71.3 79.4 58.9 61.8 60.2 59.1 60.5 Current surplus of government enterprises –1.2 –4.0 .2 3.7 .3 –3.5 –2.9 –2.7 –3.7 –4.2 –4.5 –2.8 –.8 –2.8 –3.1 –3.8 –3.4 –4.5 –4.9 –4.8 –3.5 –3.6 –3.4 –4.2 –4.9 Total 2 1,871.9 1,979.8 2,112.1 2,261.5 2,393.4 2,573.1 2,728.3 2,900.0 3,119.3 3,457.5 2,844.4 2,896.0 2,916.6 2,942.8 3,017.4 3,174.1 3,152.8 3,132.9 3,227.1 3,527.9 3,532.9 3,542.0 3,637.1 3,701.2 3,759.9 ConCurrent sumption transfer Interest Subsidies expendipaypayments tures ments 3 496.0 530.2 590.5 660.3 721.4 765.8 811.0 848.9 934.6 987.1 822.8 840.4 862.0 870.4 901.9 920.1 954.2 962.3 958.1 989.0 999.7 1,001.8 1,017.3 1,038.5 1,061.7 1,047.4 1,140.0 1,252.1 1,339.4 1,405.0 1,491.3 1,587.1 1,690.4 1,843.7 2,157.4 1,676.8 1,673.1 1,691.5 1,720.4 1,763.3 1,899.7 1,831.7 1,880.2 2,009.8 2,211.8 2,191.5 2,216.7 2,292.3 2,311.4 2,351.5 283.3 258.6 229.1 212.9 221.0 255.4 279.2 313.2 291.2 254.0 296.8 335.0 316.2 304.7 304.5 305.6 316.6 238.0 204.4 271.3 273.8 266.4 271.6 294.9 289.8 45.3 51.1 40.5 49.0 46.0 60.5 51.0 47.4 49.8 58.9 48.1 47.5 46.9 47.2 47.7 48.8 50.3 52.4 54.8 56.0 67.9 57.2 55.8 56.4 56.9 3 Includes Federal grants-in-aid to State and local governments, not shown separately. Source: Department of Commerce (Bureau of Economic Analysis). Net Federal Government saving 185.2 40.5 –252.8 –376.4 –379.5 –283.0 –203.8 –245.2 –616.2 –1,251.7 –201.6 –237.4 –265.2 –276.7 –376.7 –761.6 –646.7 –680.0 –1,003.2 –1,336.8 –1,356.7 –1,310.3 –1,314.2 –1,336.5 –1,338.0 INTERNATIONAL STATISTICS Industrial Production and Consumer Prices—Major Industrial Countries Industrial production (2007=100; seasonally adjusted) Period United States Canada Japan France Germany Consumer prices (1982–84=100; NSA) United Kingdom Italy United States 1 Canada Japan France Germany 2000 r ������������� 92.0 100.3 92.2 98.1 83.9 98.6 104.0 172.2 164.9 121.0 157.8 2001 r ������������� 88.9 96.3 86.2 99.0 84.2 97.5 102.4 177.1 169.1 120.0 160.3 2002 r ������������� 89.1 97.8 85.1 97.2 83.3 96.0 100.7 179.9 172.9 119.0 163.4 r 2003 ������������� 90.2 97.9 87.6 96.1 83.7 95.4 100.1 184.0 177.7 118.7 166.9 r 2004 ������������� 92.3 99.5 91.8 97.3 86.3 95.2 101.2 188.9 181.0 118.7 170.4 2005 r ������������� 95.3 101.4 93.2 97.5 89.2 94.7 99.9 195.3 185.0 118.3 173.4 2006 r ������������� 97.4 100.8 97.1 98.8 94.3 98.1 99.9 201.6 188.7 118.6 176.3 r 2007 ������������� 100.0 100.0 100.0 100.0 100.0 100.0 100.0 207.342 192.7 118.7 178.9 r 2008 ������������� 96.7 94.4 96.6 97.2 100.0 96.2 96.9 215.303 197.3 120.3 184.0 2009 r ������������� 87.7 84.3 75.5 85.3 83.6 78.7 87.1 214.537 197.9 118.7 184.1 r 2009: Sept ��� 88.4 84.2 78.8 86.0 86.7 79.6 86.5 215.969 198.3 118.8 184.2 Oct r ����� 88.6 84.7 80.0 86.0 85.8 79.8 86.6 216.177 198.1 118.3 184.4 Nov r ���� 89.1 85.6 82.0 87.2 86.1 80.4 87.0 216.330 199.2 118.1 184.6 Dec r ���� 89.6 85.8 84.2 86.9 85.7 79.6 87.1 215.949 198.5 117.8 185.1 2010: Jan r ���� 90.5 87.2 87.8 88.8 87.1 81.1 87.0 216.687 199.0 117.6 184.7 Feb r ���� 90.5 88.0 87.2 89.1 86.8 81.4 87.6 216.741 199.9 117.5 185.7 Mar r ��� 91.0 88.8 88.3 89.9 89.4 81.5 89.3 217.631 199.9 117.8 186.6 r Apr ���� 91.5 89.1 89.4 89.5 90.3 82.4 88.7 218.009 200.6 117.8 187.1 r May ��� 92.6 89.9 89.5 91.0 93.4 83.1 89.2 218.178 201.1 118.0 187.3 June r �� 92.6 90.4 88.5 89.5 92.8 83.5 88.8 217.965 200.9 118.0 187.3 July r ��� 93.3 90.7 88.3 90.3 92.9 83.8 89.1 218.011 202.0 117.4 186.8 r Aug ���� 93.5 91.0 87.8 90.3 94.4 85.1 89.4 218.312 201.8 117.7 187.2 r Sept ��� 93.4 89.9 86.4 90.4 93.7 83.3 89.7 218.439 202.1 118.1 187.1 Oct r ����� 93.4 ��������������� 84.8 ��������������� ��������������� ��������������� ��������������� 218.711 203.0 118.6 187.3 Nov p ��� ��������������� ��������������� ��������������� ��������������� ��������������� ��������������� ��������������� ��������������� ��������������� ��������������� ��������������� 1 Data relate to all urban consumers. 142.5 145.3 147.4 148.9 151.4 153.7 156.2 159.7 163.9 164.5 164.3 164.5 164.3 165.7 164.7 165.3 166.0 165.9 166.0 166.2 166.7 166.7 166.5 166.7 166.8 Italy United Kingdom 231.3 200.0 237.8 203.7 243.6 207.0 250.1 213.0 255.7 219.3 260.7 225.6 266.2 232.8 271.1 242.7 280.1 252.4 282.3 251.1 282.8 253.0 283.0 253.8 283.0 254.5 283.6 256.1 284.0 256.0 284.2 257.5 285.1 259.3 286.1 261.8 286.3 262.7 286.3 263.3 287.3 262.7 287.9 263.8 287.3 264.7 287.9 265.3 287.9 ����������������� Sources: As reported by each country, Board of Governors of the Federal Reserve System, and Department of Labor (Bureau of Labor Statistics). Note: See Note, p. 17, for information on U.S. industrial production series. U.S. International Trade in Goods and Services [Billions of dollars; monthly data seasonally adjusted] Goods: Exports (f.a.s. value) Census basis (by end-use category) Period 2000 ��������������� 2001 ��������������� 2002 ��������������� 2003 ��������������� 2004 ��������������� 2005 ��������������� 2006 ��������������� 2007 ��������������� 2008 ��������������� 2009 ��������������� 2009: Sept ���� Oct ������ Nov ����� Dec ������ 2010: Jan ������ Feb ������ Mar ����� Apr ������ May ����� June ���� July ����� Aug r ���� Sept p �� BOP basis 784.2 730.3 696.3 728.3 819.9 909.0 1,035.9 1,160.4 1,304.9 1,068.5 92.0 95.2 95.7 99.6 100.4 100.2 105.1 104.1 107.1 104.9 107.7 107.5 107.6 IndusFoods, trial Total, feeds, supCensus and plies basis 1 bever- and ages materials 781.9 729.1 693.1 724.8 814.9 901.1 1,026.0 1,148.2 1,287.4 1,056.0 91.0 94.3 94.3 98.3 99.4 99.2 104.4 103.2 106.1 104.0 106.9 106.6 106.9 47.9 49.4 49.6 55.0 56.6 59.0 66.0 84.3 108.3 93.9 7.4 7.9 8.9 9.0 8.9 8.5 8.5 7.9 7.9 7.6 7.5 8.7 9.2 172.6 160.1 156.8 173.0 203.9 233.0 276.0 316.4 388.0 296.7 27.0 27.4 27.0 28.3 29.1 29.6 31.7 32.3 32.9 31.8 32.4 32.9 32.1 80.4 75.4 78.9 80.6 89.2 98.4 107.3 121.3 121.5 81.7 7.6 7.9 8.3 8.8 9.0 9.0 9.1 9.3 9.4 9.7 9.3 9.4 9.3 Balance of trade (exports minus imports) Census basis (by end-use category) Auto- Consumer Capital motive vegoods goods hicles, except parts (nonfood) autoexcept motive and enautogines motive 356.9 321.7 290.4 293.7 327.5 358.4 404.0 433.0 457.7 390.5 32.7 33.5 33.5 35.1 34.9 35.0 36.0 36.0 38.0 36.6 38.8 37.4 37.6 Services (BOP basis) Goods: Imports (customs value) 89.4 88.3 84.4 89.9 103.2 115.3 129.1 146.0 161.3 150.0 12.7 13.6 12.9 13.2 13.6 13.2 13.9 13.2 13.5 13.6 13.6 13.7 13.8 BOP basis 1,230.4 1,152.3 1,171.6 1,269.8 1,485.5 1,692.8 1,875.3 1,983.6 2,139.5 1,575.4 138.3 139.2 142.8 148.7 147.6 151.8 157.5 156.9 161.7 167.1 162.7 166.7 164.4 IndusFoods, trial Total, feeds, supCensus and plies basis 1 bever- and ages materials 1,218.0 1,141.0 1,161.4 1,257.1 1,469.7 1,673.5 1,853.9 1,957.0 2,103.6 1,559.6 136.9 137.6 141.2 147.2 145.8 150.0 155.6 155.0 159.8 165.0 160.8 164.6 162.4 1 Total includes ‘‘other’’ exports or imports, not shown separately. 46.0 46.6 49.7 55.8 62.1 68.1 74.9 81.7 89.0 81.6 6.7 6.8 6.7 6.9 7.3 7.2 7.5 7.5 7.7 7.7 7.6 7.8 7.8 299.0 273.9 267.7 313.8 412.8 523.8 602.0 634.7 779.5 462.5 42.7 41.0 43.4 47.4 46.7 49.3 52.1 52.2 50.1 49.9 49.4 49.6 49.7 BOP basis Auto- Consumer Capital motive vegoods goods hicles, except parts (nonfood) autoexcept motive and enautogines motive 347.0 298.0 283.3 295.9 343.6 379.3 418.3 444.5 453.7 369.3 31.1 32.0 32.6 33.7 33.5 33.9 34.4 36.0 37.9 38.3 37.7 38.6 39.9 195.9 189.8 203.7 210.1 228.2 239.4 256.6 256.7 231.2 157.6 15.7 16.0 16.1 17.0 16.8 16.0 17.6 17.3 19.5 20.8 20.0 20.7 19.3 281.8 284.3 307.8 333.9 372.9 407.2 442.6 474.6 481.6 428.4 35.5 36.7 37.5 37.0 36.5 38.3 38.9 37.4 40.0 43.1 41.1 42.6 40.7 Exports Imports Goods, Census Ser- Goods and basis Goods vices services 286.4 274.6 281.2 291.6 338.7 372.2 416.9 488.3 534.1 502.3 42.2 42.9 43.3 43.7 44.1 44.2 44.9 44.7 45.5 45.7 45.9 46.1 46.5 219.0 217.0 226.4 244.3 282.4 302.5 336.7 367.2 398.3 370.3 31.1 31.2 31.5 31.8 31.7 32.5 32.2 32.0 32.6 33.2 33.4 33.4 33.7 –436.1 –411.9 –468.3 –532.4 –654.8 –772.4 –828.0 –808.8 –816.2 –503.6 –45.9 –43.2 –46.9 –48.9 –46.4 –50.8 –51.2 –51.9 –53.7 –61.0 –53.9 –57.9 –55.5 –446.2 67.5 –378.8 –422.0 57.6 –364.4 –475.3 54.8 –420.5 –541.5 47.4 –494.2 –665.6 56.3 –609.3 –783.8 69.6 –714.2 –839.5 80.2 –759.2 –823.2 121.1 –702.1 –834.7 135.9 –698.8 –506.9 132.0 –374.9 –46.3 11.1 –35.2 –44.0 11.7 –32.3 –47.1 11.8 –35.3 –49.1 12.0 –37.1 –47.3 12.4 –34.8 –51.7 11.8 –39.9 –52.4 12.7 –39.7 –52.8 12.7 –40.0 –54.6 12.8 –41.8 –62.2 12.5 –49.8 –55.1 12.5 –42.6 –59.1 12.6 –46.5 –56.9 12.9 –44.0 Source: Department of Commerce (Bureau of the Census and Bureau of Economic Analysis). 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. 35 U.S. International Transactions In the second quarter of 2010, the goods deficit rose to $169.6 billion, from $151.3 billion in the first quarter. The current account deficit rose to $123.3 billion in the second quarter, from $109.2 billion in the first quarter. [Millions of dollars; quarterly data seasonally adjusted. Credits (+), debits (–)] Period 2000 �������������������� 2001 �������������������� 2002 �������������������� 2003 �������������������� 2004 �������������������� 2005 �������������������� 2006 �������������������� 2007 �������������������� 2008 �������������������� 2009 �������������������� 2007: I ���������������� II ��������������� III �������������� IV �������������� 2008: I ���������������� II ��������������� III �������������� IV �������������� 2009: I ���������������� II ��������������� III �������������� IV �������������� 2010: I ���������������� II p ������������� Exports 784,181 730,277 696,268 728,258 819,870 909,016 1,035,868 1,160,366 1,304,896 1,068,499 275,321 284,743 294,605 305,697 323,507 342,637 345,091 293,661 255,044 254,021 268,858 290,576 305,640 316,112 Goods 1 Services Imports Net travel and transportation –1,230,413 –1,152,257 –1,171,613 –1,269,802 –1,485,501 –1,692,817 –1,875,324 –1,983,558 –2,139,548 –1,575,443 –478,632 –490,316 –499,104 –515,505 –539,107 –565,303 –567,388 –467,750 –376,241 –367,528 –400,977 –430,698 –456,961 –485,725 Balance on goods –446,233 –421,980 –475,345 –541,544 –665,631 –783,801 –839,456 –823,192 –834,652 –506,944 –203,311 –205,574 –204,498 –209,808 –215,600 –222,666 –222,297 –174,089 –121,197 –113,507 –132,119 –140,121 –151,321 –169,613 Net military transactions 2 –6,610 –8,398 –12,761 –17,062 –17,232 –15,512 –11,652 –10,701 –13,375 –13,378 –2,310 –3,927 –3,371 –1,093 –3,413 –2,656 –3,564 –3,741 –4,014 –3,101 –2,283 –3,980 –3,479 –3,220 2,714 –3,217 –4,334 –12,249 –15,328 –13,121 –9,743 4,576 19,103 14,951 –929 –522 1,859 4,166 4,531 5,603 6,257 2,710 2,537 4,064 3,849 4,501 5,288 5,245 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 expendi- tures (imports). 36 Other services, net 71,349 69,201 71,916 76,671 88,846 98,258 101,611 127,217 130,122 130,463 29,414 30,860 32,876 34,069 33,006 34,277 31,983 30,857 32,235 32,104 31,231 34,893 35,062 35,988 Balance on goods and services –378,780 –364,393 –420,524 –494,183 –609,345 –714,176 –759,240 –702,099 –698,802 –374,908 –177,136 –179,163 –173,135 –172,665 –181,476 –185,444 –187,621 –144,262 –90,439 –80,441 –99,322 –104,707 –114,451 –131,600 Income receipts and payments Receipts 350,918 290,797 280,942 320,456 413,739 535,263 682,221 829,602 796,528 588,203 189,657 205,286 215,918 218,741 211,856 209,443 203,373 171,855 143,356 142,281 146,584 155,982 161,268 161,883 Payments –329,864 –259,075 –253,544 –275,147 –346,519 –462,905 –634,136 –730,049 –644,554 –466,783 –178,171 –191,394 –185,598 –174,884 –169,451 –171,083 –157,959 –146,061 –118,747 –115,995 –111,127 –120,914 –121,108 –120,697 Balance on income 21,054 31,722 27,398 45,309 67,219 72,358 48,085 99,553 151,974 121,419 11,486 13,891 30,321 43,858 42,405 38,360 45,414 25,794 24,609 26,286 35,457 35,068 40,160 41,185 Unilateral current transfers, net 3 –58,645 –64,487 –64,948 –71,794 –88,362 –105,772 –91,481 –115,548 –122,026 –124,943 –32,189 –26,449 –28,126 –28,786 –32,928 –29,747 –30,177 –29,176 –29,747 –30,292 –33,638 –31,268 –34,867 –32,868 3 Includes transfers of goods and services under U.S. military grant programs. See p. 37 for continuation of table. Balance on current account –416,371 –397,158 –458,074 –520,668 –630,488 –747,590 –802,636 –718,094 –668,854 –378,432 –197,840 –191,720 –170,941 –157,593 –171,999 –176,830 –172,383 –147,644 –95,577 –84,447 –97,503 –100,907 –109,158 –123,283 U.S. International Transactions—Continued In the financial account, U.S. claims on foreigners reported by U.S. banks increased $16.5 billion in the second quarter of 2010, following an increase of $171.8 billion in the first quarter. U.S. liabilities to private foreigners reported by U.S. banks, excluding Treasury securities, decreased $12.0 billion in the second quarter, following an increase of $63.8 billion in the first quarter. [Millions of dollars; quarterly data seasonally adjusted. Credits (+), debits (–)] Financial account Period U.S.-owned assets abroad, excluding financial derivatives [increase/financial outflow (–)] Capital account transactions, net Total 2000 �������������������� 2001 �������������������� 2002 �������������������� 2003 �������������������� 2004 �������������������� 2005 �������������������� 2006 �������������������� 2007 �������������������� 2008 �������������������� 2009 �������������������� 2007: I ���������������� II ��������������� III �������������� IV �������������� 2008: I ���������������� II ��������������� III �������������� IV �������������� 2009: I ���������������� II ��������������� III �������������� IV �������������� 2010: I ���������������� II p ������������� –1 13,198 –141 –1,821 3,049 13,116 –1,788 384 6,010 –140 0 443 –57 –2 –8 –18 6,043 –7 –20 –29 –36 –56 –3 –1 –560,523 –382,616 –294,646 –325,424 –1,000,870 –546,631 –1,285,729 –1,475,719 156,077 –140,465 –493,886 –557,248 –201,395 –223,191 –222,848 153,977 74,829 150,119 112,726 31,734 –276,241 –8,685 –301,389 –139,056 U.S. official reserve assets 4 –290 –4,911 –3,681 1,523 2,805 14,096 2,374 –122 –4,848 –52,256 –72 26 –54 –22 –276 –1,267 –179 –3,126 –982 –3,632 –49,021 1,379 –773 –165 Other U.S. Government assets –941 –486 345 537 1,710 5,539 5,346 –22,273 –529,615 541,342 445 –596 623 –22,744 3,268 –41,592 –225,997 –265,293 244,102 193,750 57,736 45,754 9,433 –2,352 Statistical discrepancy Foreign-owned assets in the U.S., excluding financial derivatives [increase/financial inflow (+)] U.S. Private assets –559,292 –377,219 –291,310 –327,484 –1,005,385 –566,266 –1,293,449 –1,453,324 690,540 –629,552 –494,259 –556,677 –201,964 –200,424 –225,840 196,836 301,005 418,538 –130,394 –158,384 –284,956 –55,817 –310,048 –136,539 4 Consists of gold, special drawing rights (SDRs), foreign currencies, and the U.S. reserve position in the International Monetary Fund (IMF). Total 1,038,224 782,870 795,161 858,303 1,533,201 1,247,347 2,065,169 2,107,655 454,722 305,736 727,267 731,720 270,817 377,851 400,171 3,740 76,357 –25,546 –111,916 –28,348 342,385 103,615 320,217 175,642 Foreign official assets 42,758 28,059 115,945 278,069 397,755 259,268 487,939 481,043 550,770 450,030 165,888 88,383 47,707 179,065 208,768 178,899 147,836 15,267 107,912 128,667 96,616 116,835 72,507 49,645 Other foreign assets 995,466 754,811 679,216 580,234 1,135,446 988,079 1,577,230 1,626,612 –96,048 –144,294 561,379 643,337 223,110 198,786 191,403 –175,159 –71,479 –40,813 –219,828 –157,015 245,769 –13,220 247,710 125,997 Financial derivatives, net ������������������ ������������������ ������������������ ������������������ ������������������ ������������������ 29,710 6,222 –32,947 50,804 14,795 –1,007 5,942 –13,508 –7,966 –2,355 –4,886 –17,740 7,221 11,275 11,496 20,812 15,838 ������������������ Total (sum of the items with sign reversed) –61,329 –16,294 –42,300 –10,391 95,107 33,758 –4,727 79,552 84,991 162,497 –50,336 17,812 95,634 16,443 2,649 21,486 20,040 40,818 87,565 69,815 19,899 –14,779 74,494 86,697 Of which: Seasonal adjustment discrepancy U.S. official reserve assets, net (unadjusted, end of period) 4 ������������������ ������������������ ������������������ ������������������ ������������������ ������������������ ������������������ ������������������ ������������������ ������������������ 9,345 –733 –23,857 15,246 6,113 –2,019 –28,020 23,929 7,761 –1,796 –19,298 13,336 11,715 –2,144 67,647 68,654 79,006 85,938 86,824 65,127 65,895 70,565 77,648 130,760 66,551 66,127 69,070 70,565 75,764 75,740 71,834 77,648 74,958 81,489 134,296 130,760 127,521 124,514 Sources: Department of Commerce (Bureau of Economic Analysis) and Department of the Treasury. 37 CONTENTS TOTAL OUTPUT, INCOME, AND SPENDING Page Gross Domestic Product . ...................................................................................................................................................... 1 Real Gross Domestic Product . .............................................................................................................................................. 2 Chained Price Indexes For Gross Domestic Product ............................................................................................................ 2 Gross Domestic Product and Related Price Measures: Indexes and Percent Changes ........................................................... 3 Nonfinancial Corporate Business—Gross Value Added and Price, Costs, and Profits .......................................................... 3 National Income . .................................................................................................................................................................. 4 Real Personal Consumption Expenditures ............................................................................................................................ 4 Sources of Personal Income ................................................................................................................................................... 5 Disposition of Personal Income ............................................................................................................................................. 6 Farm Income ......................................................................................................................................................................... 7 Corporate Profits ................................................................................................................................................................... 8 Real Gross Private Domestic Investment . ............................................................................................................................. 9 Real Private Fixed Investment by Type . ................................................................................................................................ 10 Business Investment .............................................................................................................................................................. 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 and Nonfarm Business Sectors . ............................................................................ 11 12 13 14 15 15 16 PRODUCTION AND BUSINESS ACTIVITY Industrial Production and Capacity Utilization .................................................................................................................... 17 Industrial Production—Major Market Groups and Selected Manufactures ......................................................................... 18 New Construction ................................................................................................................................................................. 19 New Private Housing and Vacancy Rates .............................................................................................................................. 19 Business Sales and Inventories—Manufacturing and Trade . ................................................................................................ 20 Manufacturers’ Shipments, Inventories, and Orders ............................................................................................................. 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 ..................................................................................................................................... 32 Federal Receipts by Source and Outlays by Function . .......................................................................................................... 33 Federal Sector, National Income Accounts Basis ................................................................................................................... 34 INTERNATIONAL STATISTICS Industrial Production and Consumer Prices—Major Industrial Countries .......................................................................... 35 U.S. International Trade in Goods and Services ................................................................................................................... 35 U.S. International Transactions . ........................................................................................................................................... 36 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. 38 U.S. GOVERNMENT PRINTING OFFICE : 2010 62-620