Full text of Economic Indicators : October 2007
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110th Congress, 1st Session Economic Indicators OCTOBER 2007 (Includes data available as of November 5, 2007) Prepared for the Joint Economic Committee by the Council of Economic Advisers UNITED STATES GOVERNMENT PRINTING OFFICE ccoleman on PROD1PC69 with ECOIND WASHINGTON : 2007 VerDate Aug 31 2005 00:09 Nov 07, 2007 Jkt 038665 PO 00000 Frm 00039 Fmt 3439 Sfmt 3439 E:\HR\OC\ECOIND.039 ECOIND JOINT ECONOMIC COMMITTEE (Created pursuant to Sec. 5(a) of Public Law 304, 79th Cong.) CHARLES E. SCHUMER, New York, Chairman CAROLYN B. MALONEY, New York, Vice Chair HOUSE OF REPRESENTATIVES MAURICE D. HINCHEY, New York BARON P. HILL, Indiana LORETTA SANCHEZ, California ELIJAH E. CUMMINGS, Maryland LLOYD DOGGETT, Texas JIM SAXTON, New Jersey KEVIN BRADY, Texas PHIL ENGLISH, Pennsylvania RON PAUL, Texas SENATE EDWARD M. KENNEDY, Massachusetts JEFF BINGAMAN, New Mexico AMY KLOBUCHAR, Minnesota ROBERT P. CASEY, Jr., Pennsylvania JIM WEBB, Virginia SAM BROWNBACK, Kansas JOHN E. SUNUNU, New Hampshire JIM DeMINT, South Carolina ROBERT F. BENNETT, Utah COUNCIL OF ECONOMIC ADVISERS EDWARD P. LAZEAR, Chairman [PUBLIC LAW 120—81ST CONGRESS; CHAPTER 237—1ST SESSION] JOINT RESOLUTION [S.J. Res. 55] To print the monthly publication entitled ‘‘Economic Indicators’’ Resolved by the Senate and House of Representatives of the United States of America in Congress assembled, That the Joint Economic Committee be authorized to issue a monthly publication entitled ‘‘Economic Indicators,’’ and that a sufficient quantity be printed to furnish one copy to each Member of Congress; the Secretary and the Sergeant at Arms of the Senate; the Clerk, Sergeant at Arms, and Doorkeeper of the House of Representatives; two copies to the libraries of the Senate and House, and the Congressional Library; seven hundred copies to the Joint Economic Committee; and the required numbers of copies to the Superintendent of Documents for distribution to depository libraries; and that the Superintendent of Documents be authorized to have copies printed for sale to the public. Approved June 23, 1949. Charts prepared under the direction of the Printing and Procurement Branch, Office of the Secretary, Department of Commerce. ccoleman on PROD1PC69 with ECOIND Economic Indicators, published monthly, is available at $5.00 a single copy ($7.00 foreign), or by subscription at $58.00 per year ($81.20 for foreign mailing) from: SUPERINTENDENT OF DOCUMENTS GOVERNMENT PRINTING OFFICE WASHINGTON, D.C. 20402 For sale by the U.S. Government Printing Office Superintendent of Documents, Mail Stop: SSOP, Washington, DC 20402–9328 Also available on the internet at the following address: http://www.gpoaccess.gov/indicators ii VerDate Aug 31 2005 00:09 Nov 07, 2007 Jkt 038665 PO 00000 Frm 00040 Fmt 3440 Sfmt 3440 E:\HR\OC\ECOIND.040 ECOIND TOTAL OUTPUT, INCOME, AND SPENDING GROSS DOMESTIC PRODUCT In the third quarter of 2007, according to advance estimates, current-dollar gross domestic product (GDP) rose 4.7 percent (annual rate), real GDP (GDP in chained 2000 dollars) rose 3.9 percent, and the implicit price deflator rose 0.7 percent. [Billions of current dollars; quarterly data at seasonally adjusted annual rates] 1997 ...................... 1998 ...................... 1999 ...................... 2000 ...................... 2001 ...................... 2002 ...................... 2003 ...................... 2004 ...................... 2005 ...................... 2006 ...................... 2004: I ................ II ............... III ............. IV .............. 2005: I ................ II ............... III ............. IV .............. 2006: I ................ II ............... III ............. IV .............. 2007: I ................ II ............... III p ............ 1 GDP Net exports Exports 8,304.3 8,747.0 9,268.4 9,817.0 10,128.0 10,469.6 10,960.8 11,685.9 12,433.9 13,194.7 11,405.5 11,610.3 11,779.4 11,948.5 12,154.0 12,317.4 12,558.8 12,705.5 12,964.6 13,155.0 13,266.9 13,392.3 13,551.9 13,768.8 13,926.7 ¥101.6 ¥159.9 ¥260.5 ¥379.5 ¥367.0 ¥424.4 ¥499.4 ¥615.4 ¥714.6 ¥762.0 ¥543.2 ¥603.1 ¥632.6 ¥682.6 ¥671.1 ¥679.8 ¥725.0 ¥782.4 ¥763.3 ¥780.4 ¥799.1 ¥705.3 ¥714.2 ¥714.2 ¥712.8 955.3 955.9 991.2 1,096.3 1,032.8 1,005.9 1,040.8 1,182.4 1,309.4 1,467.6 1,140.9 1,172.8 1,187.3 1,228.6 1,260.8 1,301.2 1,316.0 1,359.6 1,406.6 1,447.4 1,484.5 1,531.9 1,549.9 1,598.7 1,676.0 5,547.4 5,879.5 6,282.5 6,739.4 7,055.0 7,350.7 7,703.6 8,195.9 8,707.8 9,224.5 8,010.1 8,135.0 8,245.1 8,393.3 8,488.8 8,632.6 8,810.5 8,899.3 9,034.7 9,183.9 9,305.7 9,373.7 9,540.5 9,674.0 9,785.6 1,389.8 1,509.1 1,625.7 1,735.5 1,614.3 1,582.1 1,664.1 1,888.6 2,077.2 2,209.2 1,769.6 1,875.6 1,929.7 1,979.5 2,029.6 2,024.7 2,078.5 2,176.0 2,221.1 2,239.0 2,224.1 2,152.4 2,117.3 2,139.1 2,139.0 Government consumption expenditures and gross investment Federal Imports Total Total 1,056.9 1,115.9 1,251.7 1,475.8 1,399.8 1,430.3 1,540.2 1,797.8 2,023.9 2,229.6 1,684.1 1,775.8 1,820.0 1,911.2 1,931.9 1,981.0 2,041.0 2,141.9 2,169.9 2,227.8 2,283.6 2,237.2 2,264.0 2,312.9 2,388.8 less exports of goods and services plus imports of goods and services. 1,468.7 1,518.3 1,620.8 1,721.6 1,825.6 1,961.1 2,092.5 2,216.8 2,363.4 2,523.0 2,169.1 2,202.8 2,237.3 2,258.2 2,306.7 2,339.8 2,394.8 2,412.5 2,472.1 2,512.5 2,536.1 2,571.4 2,608.3 2,670.0 2,714.9 530.9 530.4 555.8 578.8 612.9 679.7 756.4 825.6 878.4 932.5 806.2 821.9 839.4 835.0 864.0 870.4 896.0 883.4 921.5 926.9 932.0 949.7 946.6 969.5 989.2 National defense 349.6 345.7 360.6 370.3 392.6 437.1 497.2 550.7 588.7 624.3 536.5 546.5 564.9 555.0 577.7 585.0 604.3 587.7 610.8 620.6 620.7 645.2 634.8 654.5 672.6 Nondefense 181.3 184.7 195.2 208.5 220.3 242.5 259.2 274.9 289.8 308.2 269.7 275.3 274.5 280.0 286.2 285.4 291.7 295.7 310.7 306.3 311.3 304.5 311.7 315.0 316.6 State and local 937.8 987.9 1,065.0 1,142.8 1,212.8 1,281.5 1,336.0 1,391.2 1,485.0 1,590.5 1,362.9 1,381.0 1,397.9 1,423.2 1,442.7 1,469.5 1,498.7 1,529.0 1,550.6 1,585.7 1,604.1 1,621.7 1,661.7 1,700.5 1,725.6 Final sales of domestic product Gross domestic purchases 1 Addendum: Gross national product 8,232.3 8,676.2 9,201.5 9,760.5 10,159.7 10,457.7 10,946.5 11,627.3 12,397.0 13,148.0 11,368.6 11,541.3 11,714.4 11,885.0 12,084.7 12,305.2 12,553.1 12,645.0 12,920.3 13,095.5 13,204.1 13,372.3 13,553.5 13,763.6 13,909.9 8,405.9 8,906.9 9,528.9 10,196.4 10,495.0 10,894.0 11,460.2 12,301.3 13,148.5 13,956.7 11,948.7 12,213.3 12,412.0 12,631.1 12,825.1 12,997.2 13,283.8 13,487.8 13,727.9 13,935.4 14,065.9 14,097.6 14,266.1 14,483.0 14,639.5 8,337.3 8,768.3 9,302.2 9,855.9 10,171.6 10,500.2 11,017.6 11,762.1 12,502.4 13,252.7 11,501.7 11,683.1 11,862.3 12,001.1 12,224.0 12,385.1 12,645.7 12,755.0 13,027.5 13,218.9 13,311.9 13,452.4 13,615.1 13,839.4 .............. Source: Department of Commerce, Bureau of Economic Analysis. 1 VerDate Aug 31 2005 00:09 Nov 07, 2007 Jkt 038665 PO 00000 Frm 00001 Fmt 3401 Sfmt 3401 E:\HR\OC\ECOIND.001 ECOIND G:\GRAPHICS\eecoind.001 ccoleman on PROD1PC69 with ECOIND Period Exports and imports of goods and services Personal Gross Gross conprivate domestic sumption domestic product expendi- investtures ment REAL GROSS DOMESTIC PRODUCT [Billions of chained (2000) dollars; quarterly data at seasonally adjusted annual rates] Gross private domestic investment Gross domestic product Period 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2004: ......... ......... ......... ......... ......... ......... ......... ......... ......... ......... I .... II ... III IV .. 2005: I .... II ... III IV .. 2006: I .... II ... III IV .. 2007: I .... II ... III p 8,703.5 9,066.9 9,470.3 9,817.0 9,890.7 10,048.8 10,301.0 10,675.8 11,003.4 11,319.4 10,543.6 10,634.2 10,728.7 10,796.4 10,878.4 10,954.1 11,074.3 11,107.2 11,238.7 11,306.7 11,336.7 11,395.5 11,412.6 11,520.1 11,630.7 Personal conNonresi- Resi- Change sumption dential dential in priexpendifixed fixed vate tures invest- invest- invenment ment tories 5,831.8 6,125.8 6,438.6 6,739.4 6,910.4 7,099.3 7,295.3 7,561.4 7,803.6 8,044.1 7,475.1 7,520.5 7,585.5 7,664.3 7,709.4 7,775.2 7,852.8 7,876.9 7,961.9 8,009.3 8,063.8 8,141.2 8,215.7 8,244.3 8,305.3 934.2 1,037.8 1,133.3 1,232.1 1,180.5 1,071.5 1,081.8 1,144.3 1,225.8 1,306.8 1,099.1 1,127.5 1,160.7 1,189.7 1,199.5 1,214.1 1,239.5 1,250.0 1,289.7 1,303.2 1,319.4 1,314.8 1,321.7 1,356.6 1,382.7 388.6 71.2 418.3 72.6 443.6 68.9 446.9 56.5 448.5 ¥31.7 469.9 12.5 509.4 14.3 560.2 54.3 597.1 33.2 569.5 40.3 540.5 35.0 561.7 64.9 567.5 60.1 570.9 57.2 578.3 63.4 596.4 10.1 606.4 5.9 607.2 53.6 606.1 38.4 587.5 51.4 555.0 53.9 529.4 17.4 506.3 .1 490.7 5.8 463.9 15.7 Exports and imports of goods and services Government consumption expenditures and gross investment Federal Net exports Exports Imports Total ¥104.6 ¥203.7 ¥296.2 ¥379.5 ¥399.1 ¥471.3 ¥518.9 ¥593.8 ¥618.0 ¥624.5 ¥549.1 ¥591.1 ¥602.7 ¥632.3 ¥624.4 ¥601.0 ¥604.1 ¥642.6 ¥640.1 ¥626.6 ¥633.8 ¥597.3 ¥612.1 ¥573.9 ¥546.2 943.7 966.5 1,008.2 1,096.3 1,036.7 1,013.3 1,026.1 1,126.1 1,203.4 1,304.1 1,101.8 1,119.4 1,128.0 1,155.3 1,172.4 1,199.3 1,205.6 1,236.4 1,270.6 1,288.4 1,306.6 1,350.9 1,354.7 1,379.5 1,432.2 1,048.3 1,170.3 1,304.4 1,475.8 1,435.8 1,484.6 1,545.0 1,719.9 1,821.5 1,928.6 1,650.9 1,710.5 1,730.8 1,787.7 1,796.8 1,800.3 1,809.7 1,879.0 1,910.7 1,915.0 1,940.4 1,948.2 1,966.8 1,953.4 1,978.4 1,594.0 1,624.4 1,686.9 1,721.6 1,780.3 1,858.8 1,904.8 1,931.8 1,946.3 1,981.4 1,925.4 1,931.8 1,939.4 1,930.6 1,936.8 1,942.5 1,957.6 1,948.2 1,971.8 1,976.5 1,980.2 1,997.2 1,994.7 2,014.8 2,033.3 1 GDP less exports of goods and services plus imports of goods and services. NOTE.—Because of the formula used for calculating real GDP, the chained (2000) dollar estimates for the detailed components do not add to the chained-dollar value of GDP or to any intermediate aggregates. Total National defense Nondefense 567.6 561.2 573.7 578.8 601.4 643.4 687.1 715.9 726.5 742.3 709.5 713.7 724.5 716.0 721.0 722.2 737.3 725.5 740.4 737.4 739.2 752.3 740.2 751.0 763.5 373.0 365.3 372.2 370.3 384.9 413.2 449.0 475.0 482.4 491.5 470.2 472.5 484.8 472.7 478.1 481.1 492.7 477.7 485.5 488.2 486.4 505.8 491.6 501.7 513.5 194.5 195.9 201.5 208.5 216.5 230.2 238.0 240.7 243.9 250.7 239.1 241.0 239.4 243.2 242.7 240.9 244.3 247.8 254.8 249.0 252.7 246.1 248.4 248.9 249.5 State and local 1,025.9 1,063.0 1,113.2 1,142.8 1,179.0 1,215.4 1,217.8 1,215.8 1,219.6 1,239.0 1,215.9 1,218.1 1,214.7 1,214.4 1,215.7 1,220.1 1,220.3 1,222.5 1,231.3 1,238.9 1,240.9 1,244.9 1,254.2 1,263.5 1,269.8 Final sales of domestic product Gross domestic purchases 1 Addendum: Gross national product 8,636.6 8,997.6 9,404.0 9,760.5 9,920.9 10,036.5 10,285.1 10,619.8 10,966.9 11,275.9 10,507.1 10,568.5 10,666.6 10,737.0 10,813.0 10,940.4 11,064.8 11,049.5 11,196.1 11,252.1 11,279.7 11,375.8 11,411.6 11,512.8 11,612.9 8,807.6 9,272.5 9,767.7 10,196.4 10,290.1 10,517.7 10,815.5 11,261.4 11,613.1 11,937.1 11,086.3 11,216.9 11,322.8 11,419.2 11,493.8 11,546.9 11,670.0 11,742.0 11,871.3 11,926.1 11,963.6 11,987.1 12,018.7 12,088.9 12,172.8 8,737.5 9,088.7 9,504.7 9,855.9 9,933.6 10,079.0 10,355.3 10,746.0 11,064.7 11,370.1 10,633.0 10,701.4 10,804.9 10,844.4 10,941.9 11,014.7 11,151.2 11,151.1 11,294.0 11,362.5 11,375.9 11,447.8 11,466.7 11,580.0 .............. Source: Department of Commerce, Bureau of Economic Analysis. IMPLICIT PRICE DEFLATORS FOR GROSS DOMESTIC PRODUCT [Index numbers, 2000=100; quarterly data are seasonally adjusted] Personal consumption expenditures Gross domestic product Period ................. ................. ................. ................. ................. ................. ................. ................. ................. ................. I ............ II ........... III ......... IV .......... 2005: I ............ II ........... III ......... IV .......... 2006: I ............ II ........... III ......... IV .......... 2007: I ............ II ........... III p ........ ccoleman on PROD1PC69 with ECOIND 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2004: 95.414 96.472 97.868 100.000 102.399 104.187 106.404 109.462 113.000 116.567 108.175 109.178 109.793 110.671 111.726 112.446 113.405 114.389 115.357 116.347 117.026 117.522 118.745 119.519 119.741 Total 95.124 95.979 97.575 100.000 102.094 103.542 105.597 108.391 111.587 114.675 107.157 108.171 108.695 109.512 110.110 111.027 112.196 112.981 113.474 114.665 115.401 115.139 116.125 117.341 117.824 Durable goods Nondurable goods 107.068 104.152 101.625 100.000 98.113 95.767 92.366 90.695 90.018 88.856 90.938 90.991 90.416 90.452 90.472 90.376 89.737 89.493 89.279 89.114 88.832 88.218 87.803 87.493 87.095 Gross private domestic investment Services 93.835 93.821 96.174 100.000 101.531 102.090 104.145 107.626 111.561 114.989 105.912 107.521 107.892 109.141 109.218 110.553 113.098 113.315 113.399 115.761 116.577 114.211 115.621 118.414 118.751 93.304 95.318 97.393 100.000 103.256 106.019 109.379 112.929 116.725 120.725 111.574 112.524 113.397 114.189 115.194 116.155 117.089 118.424 119.307 120.244 121.202 122.115 123.244 124.047 124.836 Nonresidential fixed 103.696 101.421 100.057 100.000 99.683 99.513 99.591 100.896 103.778 106.962 100.112 100.713 101.029 101.666 102.799 103.425 103.836 105.002 106.018 106.759 107.262 107.785 108.297 108.289 108.111 Exports and imports of Government consumption expenditures goods and services and gross investment Federal Residential fixed 89.843 92.239 95.780 100.000 104.633 107.240 112.372 120.587 128.653 134.287 116.979 119.460 121.932 123.773 125.755 126.884 129.560 132.247 133.555 134.163 134.427 135.118 135.779 135.502 135.242 Exports Imports Total 101.233 98.905 98.313 100.000 99.625 99.272 101.429 104.997 108.803 112.537 103.549 104.768 105.257 106.346 107.537 108.491 109.154 109.963 110.705 112.337 113.620 113.403 114.412 115.891 117.019 100.816 95.354 95.960 100.000 97.497 96.342 99.686 104.526 111.117 115.610 102.010 103.822 105.154 106.913 107.518 110.033 112.778 113.996 113.564 116.334 117.688 114.834 115.114 118.408 120.745 93.533 94.512 96.883 100.000 101.908 105.632 110.095 115.322 120.914 125.622 113.636 115.158 115.857 116.616 119.834 120.507 121.530 121.767 124.460 125.684 126.095 126.242 127.884 129.096 129.570 Source: Department of Commerce, Bureau of Economic Analysis. 2 VerDate Aug 31 2005 00:09 Nov 07, 2007 Jkt 038665 PO 00000 Frm 00002 Fmt 3401 Sfmt 3401 E:\HR\OC\ECOIND.002 ECOIND National defense Nondefense State and local 93.716 94.643 96.886 100.000 102.002 105.792 110.751 115.932 122.034 127.026 114.104 115.672 116.515 117.412 120.843 121.586 122.651 123.042 125.797 127.100 127.611 127.575 129.146 130.446 130.990 93.192 94.269 96.880 100.000 101.738 105.345 108.898 114.218 118.807 122.959 112.812 114.247 114.656 115.141 117.950 118.481 119.423 119.355 121.931 122.997 123.213 123.724 125.512 126.549 126.879 91.414 92.935 95.667 100.000 102.868 105.434 109.712 114.431 121.758 128.370 112.089 113.371 115.079 117.192 118.675 120.439 122.820 125.080 125.932 127.991 129.265 130.266 132.492 134.580 135.893 GROSS DOMESTIC PRODUCT AND RELATED PRICE MEASURES: INDEXES AND PERCENT CHANGES [Quarterly data are seasonally adjusted] Percent change from preceding period 1 Index numbers, 2000=100 Real GDP (chain-type quantity index) Period 1997 ...................................................................................... 1998 ...................................................................................... 1999 ...................................................................................... 2000 ...................................................................................... 2001 ...................................................................................... 2002 ...................................................................................... 2003 ...................................................................................... 2004 ...................................................................................... 2005 ...................................................................................... 2006 ...................................................................................... 2003: I ................................................................................ II ............................................................................... III ............................................................................. IV .............................................................................. 2004: I ................................................................................ II ............................................................................... III ............................................................................. IV .............................................................................. 2005: I ................................................................................ II ............................................................................... III ............................................................................. IV .............................................................................. 2006: I ................................................................................ II ............................................................................... III ............................................................................. IV .............................................................................. 2007: I ................................................................................ II ............................................................................... III p ............................................................................ 1 Quarterly 88.658 92.359 96.469 100.000 100.751 102.362 104.931 108.748 112.086 115.304 103.148 104.031 105.926 106.621 107.402 108.325 109.287 109.977 110.812 111.583 112.808 113.143 114.482 115.175 115.481 116.080 116.254 117.349 118.475 GDP implicit price deflator GDP chain-type price index 95.415 96.475 97.868 100.000 102.402 104.193 106.409 109.462 113.005 116.568 105.742 106.076 106.616 107.204 108.180 109.185 109.807 110.677 111.745 112.455 113.422 114.398 115.363 116.350 117.030 117.527 118.750 119.527 119.756 percent changes are at annual rates. GDP (current dollars) 95.414 96.472 97.868 100.000 102.399 104.187 106.404 109.462 113.000 116.567 105.724 106.062 106.611 107.190 108.175 109.178 109.793 110.671 111.726 112.446 113.405 114.389 115.357 116.347 117.026 117.522 118.745 119.519 119.741 6.2 5.3 6.0 5.9 3.2 3.4 4.7 6.6 6.4 6.1 4.4 4.8 9.7 4.9 6.8 7.4 6.0 5.9 7.1 5.5 8.1 4.8 8.4 6.0 3.4 3.8 4.9 6.6 4.7 Real GDP (chain-type quantity index) GDP chain-type price index 4.5 4.2 4.5 3.7 .8 1.6 2.5 3.6 3.1 2.9 1.2 3.5 7.5 2.7 3.0 3.5 3.6 2.5 3.1 2.8 4.5 1.2 4.8 2.4 1.1 2.1 .6 3.8 3.9 GDP implicit price deflator 1.7 1.1 1.4 2.2 2.4 1.7 2.1 2.9 3.2 3.2 3.1 1.3 2.1 2.2 3.7 3.8 2.3 3.2 3.9 2.6 3.5 3.5 3.4 3.5 2.4 1.7 4.2 2.6 .8 1.7 1.1 1.4 2.2 2.4 1.7 2.1 2.9 3.2 3.2 3.2 1.3 2.1 2.2 3.7 3.8 2.3 3.2 3.9 2.6 3.5 3.5 3.4 3.5 2.4 1.7 4.2 2.6 .7 Source: Department of Commerce, Bureau of Economic Analysis. NONFINANCIAL CORPORATE BUSINESS–GROSS VALUE ADDED AND PRICE, COSTS, AND PROFITS [Quarterly data at seasonally adjusted annual rates] Price per unit of real gross value added of nonfinancial corporate business (dollars) 1 2 Gross value added of nonfinancial corporate business (billions of dollars)1 Unit nonlabor cost Period Current dollars Chained (2000) dollars 4,401.8 4,655.0 4,950.8 5,272.2 5,293.5 5,371.7 5,558.4 5,956.4 6,319.4 6,689.4 5,778.1 5,907.6 6,038.5 6,101.4 6,170.9 6,291.1 6,349.9 6,465.6 6,594.1 6,639.8 6,739.1 6,784.5 6,865.0 6,967.2 4,469.3 4,725.4 5,011.0 5,272.2 5,224.5 5,269.7 5,387.5 5,652.3 5,806.6 6,012.1 5,546.9 5,618.5 5,721.3 5,722.6 5,727.5 5,802.8 5,808.3 5,887.8 5,966.9 5,965.7 6,039.7 6,076.2 6,089.6 6,159.1 ........................................................ ........................................................ ........................................................ ........................................................ ........................................................ ........................................................ ........................................................ ........................................................ ........................................................ ........................................................ I ................................................... II ................................................. III ................................................ IV ................................................ 2005: I ................................................... II ................................................. III ................................................ IV ................................................ 2006: I ................................................... II ................................................. III ................................................ IV ................................................ 2007: I ................................................... II ................................................. ccoleman on PROD1PC69 with ECOIND 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2004: Total Compensation of employees (unit labor cost) 0.985 .985 .988 1.000 1.013 1.019 1.032 1.054 1.088 1.113 1.042 1.051 1.055 1.066 1.077 1.084 1.093 1.098 1.105 1.113 1.116 1.117 1.127 1.131 1 Estimates for nonfinancial corporate business for 2000 and earlier periods are based on the Standard Industrial Classification (SIC); later estimates are based on the North American Industry Classification System (NAICS). 2 The implicit price deflator for gross value added of nonfinancial corporate business divided by 100. Total 0.629 .645 .652 .672 .688 .685 .687 .684 .702 .718 .680 .681 .681 .693 .697 .695 .709 .709 .712 .716 .713 .731 .738 .740 0.228 .226 .229 .237 .257 .253 .253 .250 .257 .260 .249 .249 .248 .251 .254 .255 .262 .257 .256 .261 .259 .261 .261 .260 Consumption of fixed capital Taxes on production and imports 3 Net interest and miscellaneous payments 0.105 .104 .105 .108 .124 .122 .122 .122 .128 .129 .120 .120 .125 .121 .122 .123 .139 .127 .126 .129 .129 .130 .131 .130 0.095 .092 .092 .093 .094 .099 .103 .103 .106 .109 .104 .104 .099 .106 .108 .109 .100 .108 .108 .109 .108 .109 .108 .108 0.028 .030 .032 .036 .039 .032 .028 .025 .023 .022 .025 .025 .024 .024 .024 .023 .023 .022 .022 .023 .022 .022 .022 .022 Corporate profits with inventory valuation and capital consumption adjustments 4 Total 0.128 .114 .107 .090 .068 .081 .091 .121 .129 .135 .112 .121 .125 .123 .126 .134 .123 .133 .137 .137 .143 .125 .128 .131 Taxes on corporate income 0.036 .034 .034 .032 .021 .018 .025 .034 .045 .048 .031 .034 .035 .035 .044 .045 .045 .048 .047 .048 .050 .047 .049 .052 Profits after tax 5 0.092 .080 .073 .058 .047 .063 .066 .087 .084 .087 .081 .087 .090 .088 .083 .090 .078 .085 .090 .089 .094 .078 .079 .079 3 Less subsidies plus business current transfer payments. profits from current production. inventory valuation and capital consumption adjustments. Source: Department of Commerce, Bureau of Economic Analysis. 4 Unit 5 With 3 VerDate Aug 31 2005 00:09 Nov 07, 2007 Jkt 038665 PO 00000 Frm 00003 Fmt 3401 Sfmt 3401 E:\HR\OC\ECOIND.003 ECOIND NATIONAL INCOME [Billions of dollars; quarterly data at seasonally adjusted annual rates] Proprietors’ income 1 National income Period 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2004: ........... ........... ........... ........... ........... ........... ........... ........... ........... ........... I ...... II .... III ... IV ... 2005: I ...... II .... III ... IV ... 2006: I ...... II .... III ... IV ... 2007: I ...... II .... III p 1 With 7,292.2 7,752.8 8,236.7 8,795.2 8,979.8 9,229.3 9,632.3 10,306.8 10,887.6 11,655.6 10,090.0 10,248.0 10,317.8 10,571.3 10,768.5 10,903.0 10,714.6 11,164.5 11,473.6 11,618.7 11,685.6 11,844.6 12,010.5 12,244.9 ................ Compensation of employees 4,661.7 5,019.4 5,357.1 5,782.7 5,942.1 6,091.2 6,325.4 6,656.4 7,029.6 7,448.3 6,505.6 6,596.7 6,709.7 6,813.6 6,890.5 6,961.3 7,088.5 7,178.3 7,328.7 7,371.9 7,442.5 7,649.9 7,764.9 7,874.9 7,972.9 Farm 34.2 29.4 28.6 22.7 19.7 10.6 29.2 37.3 30.8 19.4 40.3 39.6 33.0 36.5 30.1 34.0 30.9 28.2 20.8 14.6 18.1 23.9 29.1 33.1 38.4 Nonfarm 541.8 598.4 649.7 705.7 752.2 757.8 782.1 874.3 939.1 987.4 839.1 869.1 881.1 908.0 918.6 937.1 936.2 964.4 979.3 998.9 985.5 985.8 998.3 1,005.3 1,007.3 Corporate profits with inventory valuation and capital consumption adjustments Rental income of persons with capital consumption adjustment Capital consumption adjustment Net interest and miscellaneous payments Taxes on production and imports 56.2 63.1 74.5 58.6 48.1 120.1 98.7 69.7 ¥170.6 ¥215.8 89.4 79.7 59.0 50.5 ¥136.3 ¥155.2 ¥197.5 ¥193.5 ¥193.3 ¥209.1 ¥223.7 ¥237.0 ¥227.9 ¥234.4 ¥237.0 415.6 487.1 495.4 559.0 566.3 520.9 524.7 491.2 558.0 598.5 497.3 491.8 483.9 491.8 534.0 546.7 568.5 583.0 592.9 611.0 594.2 596.0 599.6 592.4 593.1 612.0 639.8 674.0 708.9 728.6 762.8 807.2 863.8 921.6 967.3 844.8 857.1 867.8 885.5 899.5 917.7 930.0 939.2 953.3 965.9 971.2 978.9 990.8 1,004.1 1,018.6 Profits with inventory valuation adjustment and without capital consumption adjustment Total 128.8 137.5 147.3 150.3 167.4 152.9 133.0 118.4 42.9 54.5 140.4 126.0 105.5 101.7 87.6 74.5 ¥49.8 59.3 59.0 55.4 52.9 50.9 53.2 62.1 67.6 868.5 801.6 851.3 817.9 767.3 886.3 993.1 1,231.2 1,372.8 1,553.7 1,184.0 1,227.4 1,218.7 1,294.8 1,376.7 1,404.0 1,297.9 1,412.5 1,515.5 1,575.5 1,592.5 1,531.2 1,547.7 1,642.4 ............ Total Profits before tax Inventory valuation adjustment 812.3 738.5 776.8 759.3 719.2 766.2 894.5 1,161.6 1,543.4 1,769.5 1,094.6 1,147.7 1,159.7 1,244.3 1,513.0 1,559.3 1,495.4 1,605.9 1,708.8 1,784.6 1,816.2 1,768.2 1,775.6 1,876.8 ............ 798.2 718.3 775.9 773.4 707.9 768.4 908.1 1,204.7 1,579.6 1,805.8 1,128.3 1,199.6 1,199.3 1,291.5 1,558.3 1,578.7 1,528.3 1,653.0 1,740.2 1,842.3 1,851.4 1,789.2 1,815.8 1,931.5 ............ 14.1 20.2 1.0 ¥14.1 11.3 ¥2.2 ¥13.6 ¥43.1 ¥36.2 ¥36.3 ¥33.7 ¥51.9 ¥39.6 ¥47.2 ¥45.3 ¥19.4 ¥32.9 ¥47.0 ¥31.4 ¥57.7 ¥35.2 ¥21.0 ¥40.2 ¥54.7 .............. inventory valuation and capital consumption adjustments. Less: Subsidies Business current transfer payments Current surplus of government enterprises 32.9 35.4 44.2 44.3 55.3 38.4 47.9 44.6 58.5 49.7 43.7 42.9 44.2 47.6 54.3 58.1 59.6 62.2 53.2 49.7 48.3 47.8 47.0 47.3 46.8 49.9 64.7 67.4 87.1 92.8 84.3 83.8 83.0 66.5 90.2 84.8 86.6 67.0 93.6 94.3 96.1 ¥.3 75.8 89.1 88.6 91.4 91.8 91.8 92.8 94.7 12.6 10.3 10.1 5.3 ¥1.4 .9 1.7 ¥4.2 ¥15.1 ¥13.9 ¥2.5 ¥3.3 ¥4.7 ¥6.5 ¥8.5 ¥10.4 ¥27.7 ¥13.9 ¥11.7 ¥13.4 ¥14.5 ¥16.0 ¥17.8 ¥15.0 ¥12.2 Source: Department of Commerce, Bureau of Economic Analysis. REAL PERSONAL CONSUMPTION EXPENDITURES [Billions of chained (2000) dollars, except as noted; quarterly data at seasonally adjusted annual rates] Durable goods Total personal consumption expenditures Period ............... ............... ............... ............... ............... ............... ............... ............... ............... ............... I .......... II ......... III ....... IV ........ 2005: I .......... II ......... III ....... IV ........ 2006: I .......... II ......... III ....... IV ........ 2007: I .......... II ......... III p ...... ccoleman on PROD1PC69 with ECOIND 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2004: 5,831.8 6,125.8 6,438.6 6,739.4 6,910.4 7,099.3 7,295.3 7,561.4 7,803.6 8,044.1 7,475.1 7,520.5 7,585.5 7,664.3 7,709.4 7,775.2 7,852.8 7,876.9 7,961.9 8,009.3 8,063.3 8,141.2 8,215.7 8,244.3 8,305.3 Total durable goods 646.9 720.3 804.6 863.3 900.7 964.8 1,020.6 1,084.8 1,137.4 1,180.5 1,066.2 1,071.3 1,091.5 1,110.1 1,116.0 1,146.3 1,163.5 1,123.8 1,167.8 1,170.2 1,186.3 1,197.6 1,223.2 1,228.4 1,241.8 Motor vehicles and parts 304.7 339.0 372.4 386.5 405.8 429.0 442.1 450.8 451.3 437.3 448.9 445.7 450.9 457.8 449.6 464.4 470.7 420.4 435.7 434.3 439.5 439.6 451.5 448.2 442.0 Furniture and household equipment 216.3 244.7 280.7 312.9 331.8 364.3 397.8 445.1 492.2 550.9 429.1 438.8 451.7 460.8 472.6 483.4 499.0 513.8 536.8 544.4 555.4 566.9 579.9 585.9 602.5 Nondurable goods Other 127.3 137.6 151.7 163.9 163.2 172.4 183.2 195.1 205.5 213.9 193.0 192.9 195.9 198.7 202.9 207.3 204.6 207.4 214.5 212.4 213.6 215.2 216.6 220.2 226.4 Total nondurable goods 1,725.3 1,794.4 1,876.6 1,947.2 1,986.7 2,037.1 2,103.0 2,177.6 2,255.4 2,337.7 2,156.7 2,164.9 2,181.4 2,207.5 2,226.8 2,247.2 2,260.9 2,286.8 2,312.3 2,325.6 2,343.9 2,368.8 2,386.6 2,383.8 2,399.8 Clothing and shoes Food 845.2 865.6 893.6 925.2 940.2 954.6 977.7 1,009.4 1,050.0 1,091.8 1,000.8 1,003.4 1,008.9 1,024.7 1,032.9 1,043.1 1,056.3 1,067.6 1,080.7 1,084.4 1,091.4 1,110.7 1,115.3 1,111.4 1,116.2 1 Includes other items, not shown separately. NOTE.—Because of the formula used for calculating real GDP, the chained (2000) dollar estimates for the detailed components do not add to the chained-dollar value of GDP or to any intermediate aggregates. 246.0 263.1 282.7 297.7 303.7 318.3 334.2 350.7 372.6 391.1 349.5 345.6 350.2 357.5 363.4 372.3 372.3 382.3 386.2 388.0 393.3 397.0 405.1 407.5 415.1 Gasoline and oil 162.8 170.3 176.3 175.7 178.3 181.9 183.2 186.7 186.1 186.8 186.0 187.2 186.5 187.0 187.8 186.1 184.3 186.1 187.2 187.1 188.3 184.8 184.1 182.8 183.6 Services Fuel oil and coal 16.9 16.0 16.4 15.8 15.2 15.5 15.4 14.6 13.2 12.0 14.9 14.7 14.6 14.0 14.2 13.5 13.0 12.3 11.6 12.1 11.8 12.4 14.1 13.1 12.2 Other 456.6 481.1 508.6 532.9 549.2 567.1 593.2 618.0 639.1 662.2 607.1 615.0 623.0 626.9 631.7 637.4 641.1 646.2 655.3 663.4 669.5 676.5 681.7 684.7 690.6 Total services 1 3,468.0 3,615.0 3,758.0 3,928.8 4,023.2 4,100.4 4,178.8 4,311.0 4,427.3 4,545.5 4,262.9 4,294.6 4,325.2 4,361.1 4,381.3 4,401.3 4,449.1 4,477.5 4,501.0 4,531.6 4,554.0 4,595.5 4,630.7 4,656.7 4,689.6 00:09 Nov 07, 2007 Jkt 038665 PO 00000 Frm 00004 Fmt 3401 922.5 948.8 978.6 1,006.5 1,033.7 1,042.1 1,051.9 1,083.8 1,118.3 1,148.3 1,073.3 1,079.7 1,087.1 1,095.1 1,104.4 1,113.9 1,123.3 1,131.6 1,139.7 1,146.0 1,151.0 1,156.6 1,163.7 1,171.6 1,178.9 Source: Department of Commerce, Bureau of Economic Analysis. 4 VerDate Aug 31 2005 Housing Sfmt 3401 E:\HR\OC\ECOIND.004 ECOIND Medical care 942.8 970.7 989.0 1,026.8 1,075.2 1,136.6 1,180.8 1,216.5 1,258.2 1,300.3 1,199.0 1,210.3 1,223.2 1,233.5 1,240.4 1,250.3 1,264.0 1,278.1 1,291.2 1,298.2 1,301.4 1,310.5 1,323.2 1,330.8 1,339.4 Retail sales of new passenger cars and light trucks (millions of units) 15.1 15.5 16.9 17.3 17.1 16.8 16.6 16.9 16.9 16.5 16.6 16.7 17.0 17.2 16.5 17.3 17.9 16.0 16.8 16.4 16.5 16.3 16.4 16.0 15.9 SOURCES OF PERSONAL INCOME Personal income rose $47.4 billion (annual rate) in September following an increase of $52.8 billion in August. Wages and salaries rose $38.0 billion in September following an increase of $22.7 billion in August. [Billions of dollars; monthly data at seasonally adjusted annual rates] Compensation of employees, received Period 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2006: ................. ................. ................. ................. ................. ................. ................. ................. ................. ................. Sept ....... Oct ........ Nov ....... Dec ........ 2007: Jan ........ Feb ........ Mar ........ Apr ........ May ....... June ...... July r ...... Aug r ...... Sept p ..... 1 With 2 With Total personal income Total 6,915.1 7,423.0 7,802.4 8,429.7 8,724.1 8,881.9 9,163.6 9,727.2 10,301.1 10,983.4 11,077.0 11,140.4 11,187.3 11,272.9 11,375.5 11,467.5 11,564.7 11,565.0 11,620.0 11,672.8 11,733.4 11,786.2 11,833.6 4,664.6 5,020.1 5,352.0 5,782.7 5,942.1 6,091.2 6,310.4 6,671.4 7,024.6 7,440.8 7,481.2 7,556.4 7,596.9 7,646.4 7,712.1 7,761.5 7,821.1 7,816.9 7,847.6 7,885.3 7,915.0 7,942.5 7,986.3 Wage and salary disbursements 3,877.6 4,183.4 4,466.3 4,829.2 4,942.8 4,980.9 5,112.7 5,394.5 5,667.9 6,018.2 6,048.6 6,115.7 6,150.2 6,193.0 6,248.4 6,291.2 6,343.6 6,335.9 6,361.5 6,393.7 6,417.3 6,440.0 6,478.0 Supplements to wages and salaries 787.0 836.7 885.7 953.4 999.3 1,110.3 1,197.7 1,276.9 1,356.8 1,422.6 1,432.6 1,440.7 1,446.7 1,453.5 1,463.7 1,470.3 1,477.5 1,481.0 1,486.1 1,491.7 1,497.7 1,502.5 1,508.3 Proprietors’ income 1 Farm 34.2 29.4 28.6 22.7 19.7 10.6 29.2 37.3 30.8 19.4 19.7 22.7 24.1 25.0 27.2 29.5 30.5 31.9 33.1 34.4 36.0 38.3 40.8 Nonfarm Personal income receipts on assets Rental income of persons 2 541.8 598.4 649.7 705.7 752.2 757.8 782.1 874.3 939.1 987.4 981.3 980.0 982.9 994.5 992.6 1,000.1 1,002.3 1,003.1 1,006.1 1,006.7 1,012.3 1,009.6 1,000.0 inventory valuation and capital consumption adjustments. capital consumption adjustment. mainly of social insurance benefits to persons. 128.8 137.5 147.3 150.3 167.4 152.9 133.0 118.4 42.9 54.5 53.1 51.6 51.1 50.0 51.2 53.0 55.4 58.3 61.6 66.5 66.5 67.5 68.9 Total 1,181.7 1,283.2 1,264.2 1,387.0 1,380.0 1,333.2 1,336.6 1,432.1 1,617.8 1,796.5 1,834.6 1,835.8 1,836.6 1,837.2 1,859.5 1,882.5 1,906.6 1,918.4 1,930.1 1,941.5 1,955.6 1,969.4 1,983.0 Personal interest income Personal dividend income 848.7 933.2 928.6 1,011.0 1,011.0 936.1 914.1 895.1 1,018.9 1,100.2 1,117.6 1,110.4 1,102.7 1,095.3 1,110.7 1,126.1 1,141.5 1,145.0 1,148.4 1,151.8 1,158.1 1,164.3 1,170.5 333.0 349.9 335.6 376.1 369.0 397.2 422.6 537.0 598.9 696.3 717.1 725.5 733.9 741.9 748.8 756.4 765.0 773.4 781.7 789.7 797.5 805.1 812.4 Personal current transfer receipts 3 951.2 978.6 1,022.1 1,084.0 1,193.9 1,286.2 1,351.0 1,422.5 1,520.7 1,612.5 1,637.4 1,634.0 1,639.7 1,669.5 1,696.4 1,710.4 1,725.3 1,711.4 1,719.7 1,720.4 1,733.3 1,746.5 1,747.2 Less: Contributions for government social insurance 587.2 624.2 661.4 702.7 731.1 750.0 778.6 828.8 874.8 927.6 930.3 940.2 944.0 949.7 963.5 969.5 976.6 975.0 978.1 982.0 985.2 987.6 992.5 Source: Department of Commerce, Bureau of Economic Analysis. 5 VerDate Aug 31 2005 00:09 Nov 07, 2007 Jkt 038665 PO 00000 Frm 00005 Fmt 3401 Sfmt 3401 E:\HR\OC\ECOIND.005 ECOIND g:\graphics\eecoind.005 ccoleman on PROD1PC69 with ECOIND 3 Consists DISPOSITION OF PERSONAL INCOME According to advance estimates, per capita disposable personal income in chained (2000) dollars rose at an annual rate of 3.3 percent in the third quarter of 2007. Personal income Period Less: Personal current taxes Equals: Disposable personal income Less: Personal outlays 1 Disposable personal income in billions of chained (2000) dollars Equals: Personal saving Per capita disposable personal income Current dollars Billions of dollars 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 ............ 6,915.1 ............ 7,423.0 ............ 7,802.4 ............ 8,429.7 ............ 8,724.1 ............ 8,881.9 ............ 9,163.6 ............ 9,727.2 ............ 10,301.1 ............ 10,983.4 926.3 1,027.0 1,107.5 1,235.7 1,237.3 1,051.8 1,001.1 1,046.3 1,209.1 1,354.3 5,988.8 6,395.9 6,695.0 7,194.0 7,486.8 7,830.1 8,162.5 8,680.9 9,092.0 9,629.1 Chained (2000) dollars Per capita personal consumption expenditures Current dollars Chained (2000) dollars Dollars 5,770.5 6,119.1 6,536.4 7,025.6 7,354.5 7,645.3 7,987.7 8,499.2 9,047.4 9,590.3 218.3 276.8 158.6 168.5 132.3 184.7 174.9 181.7 44.6 38.8 6,295.8 6,663.9 6,861.3 7,194.0 7,333.3 7,562.2 7,729.9 8,008.9 8,147.9 8,396.9 21,940 23,161 23,968 25,469 26,224 27,145 28,020 29,517 30,616 32,115 Percent change in real per capita disposable personal income Saving as percent of disposable personal income Population, including Armed Forces overseas (thousands) 2 Percent 23,065 24,131 24,564 25,469 25,687 26,217 26,535 27,232 27,436 28,005 20,323 21,291 22,491 23,860 24,712 25,483 26,445 27,868 29,322 30,765 21,365 22,183 23,050 23,860 24,205 24,612 25,043 25,711 26,277 26,828 2.3 4.6 1.8 3.7 .9 2.1 1.2 2.6 .7 2.1 3.6 4.3 2.4 2.3 1.8 2.4 2.1 2.1 .5 .4 272,958 276,154 279,328 282,459 285,490 288,451 291,311 294,096 296,972 299,833 26,990 27,087 27,210 27,636 27,342 27,450 27,293 27,661 27,930 27,881 27,930 28,280 28,595 28,571 28,806 27,336 27,699 28,001 28,431 28,690 29,109 29,631 29,853 30,241 30,671 30,999 31,147 31,634 32,005 32,293 25,511 25,607 25,761 25,961 26,056 26,217 26,410 26,423 26,650 26,748 26,862 27,052 27,241 27,275 27,408 2.8 1.4 1.8 6.4 ¥4.2 1.6 ¥2.3 5.5 3.9 ¥.7 .7 5.1 4.5 ¥.3 3.3 2.1 2.0 1.8 2.5 1.0 .8 ¥.5 .8 .9 .3 .0 .4 1.0 .6 .8 293,018 293,691 294,455 295,222 295,878 296,567 297,339 298,105 298,754 299,432 300,196 300,950 301,590 302,266 303,028 2004: I ....... II ...... III .... IV ..... 2005: I ....... II ...... III .... IV ..... 2006: I ....... II ...... III .... IV ..... 2007: I ....... II ..... III p .. 9,482.8 9,629.6 9,770.9 10,025.5 10,074.1 10,234.1 10,328.6 10,567.4 10,787.1 10,915.5 11,030.9 11,200.2 11,469.2 11,619.2 11,784.4 1,008.1 8,474.7 8,299.5 1,024.5 8,605.1 8,432.9 1,062.1 8,708.9 8,553.7 1,090.7 8,934.8 8,710.6 1,166.4 8,907.7 8,819.0 1,195.5 9,038.6 8,970.8 1,223.5 9,105.1 9,153.9 1,251.0 9,316.4 9,245.7 1,318.6 9,468.5 9,384.0 1,342.6 9,572.9 9,542.9 1,355.2 9,675.8 9,677.1 1,401.0 9,799.2 9,757.2 1,454.7 10,014.5 9,917.5 1,485.6 10,133.6 10,069.2 1,499.6 10,284.8 10,198.3 175.1 172.2 155.2 224.2 88.7 67.8 ¥48.8 70.8 84.5 30.0 ¥1.4 42.0 97.0 64.4 86.5 7,908.7 7,955.1 8,012.2 8,158.8 8,089.8 8,140.9 8,115.4 8,246.0 8,344.2 8,348.6 8,384.5 8,510.7 8,623.9 8,636.0 8,729.0 1 Includes personal consumption expenditures, personal interest payments (nonmortgage), and personal current transfer payments. 2 Annual data are averages of quarterly data, which are averages for the period. 28,922 29,300 29,576 30,265 30,106 30,477 30,622 31,252 31,693 31,970 32,231 32,561 33,206 33,525 33,940 Source: Department of Commerce (Bureau of Economic Analysis and Bureau of the Census). 6 VerDate Aug 31 2005 00:09 Nov 07, 2007 Jkt 038665 PO 00000 Frm 00006 Fmt 3401 Sfmt 3401 E:\HR\OC\ECOIND.006 ECOIND g:\graphics\eecoind.006 ccoleman on PROD1PC69 with ECOIND Seasonally adjusted annual rates FARM INCOME According to the current forecast for 2007, gross farm income is forecast at $337.0 billion, and net farm income at $87.1 billion. [Billions of dollars; quarterly data at seasonally adjusted annual rates] Income of farm operators from farming Gross farm income Cash marketing receipts Total 1 Total ccoleman on PROD1PC69 with ECOIND 1998 ................................ 1999 ................................ 2000 ................................ 2001 ................................ 2002 ................................ 2003 ................................ 2004 ................................ 2005 ................................ 2006 ................................ 2007 ................................ 2005: I .......................... II ......................... III ........................ IV ........................ 2006: I .......................... II ......................... III ........................ IV ........................ 2007: I p ......................... II p ........................ III p ...................... IV p ....................... 232.6 234.9 243.7 251.9 232.8 260.0 296.0 299.6 291.5 337.0 335.3 287.3 280.0 295.7 298.3 284.4 288.3 294.9 348.9 333.6 334.4 331.0 Livestock and products 196.5 187.8 192.1 200.1 195.0 215.6 237.3 240.7 239.3 276.4 251.3 243.5 235.8 232.4 231.9 241.8 244.4 239.0 275.4 280.8 280.9 268.6 94.2 95.7 99.6 106.7 94.0 105.6 123.6 124.9 119.3 140.2 125.2 125.9 124.5 123.9 118.6 119.7 119.2 119.6 129.3 145.7 146.0 139.8 1 Cash marketing receipts, Government payments, value of changes in inventories, other farm related cash income, and nonmoney income produced by farms including imputed rent of operator residences. 2 Crop receipts include proceeds received from commodities placed under Commodity Credit Corporation loans. 3 Physical changes in beginning and ending year inventories of crop and livestock commodities valued at weighted average market prices during the period. Value of inventory changes 3 Crops 2 102.2 92.1 92.4 93.4 101.1 109.9 113.7 115.9 120.0 136.2 126.1 117.5 111.3 108.5 113.2 122.0 125.2 119.4 146.1 135.1 134.8 128.8 Direct Government payments 4 ¥0.6 ¥.2 1.6 1.1 ¥3.4 ¥2.4 11.2 ¥1.1 ¥1.6 5.1 ¥1.1 ¥1.1 ¥1.0 ¥1.0 ¥1.5 ¥1.6 ¥1.6 ¥1.6 5.1 5.2 5.2 5.0 Production expenses 12.4 21.5 23.2 22.4 12.4 16.5 13.0 24.4 15.8 13.6 48.1 9.0 10.4 30.1 31.1 5.8 6.7 19.5 26.8 5.0 5.8 16.8 185.5 187.2 193.0 196.8 192.7 200.3 210.0 222.5 232.5 249.9 232.2 225.0 218.0 214.7 225.3 234.9 237.5 232.3 248.9 253.9 253.9 242.8 Net farm income 47.1 47.7 50.7 55.0 40.1 59.7 85.9 77.1 59.0 87.1 103.1 62.3 62.1 81.0 73.0 49.5 50.9 62.7 100.0 79.7 80.5 88.2 4 Includes only Government payments made directly to farmers. NOTE.—Data for 2007 are forecasts. Source: Department of Agriculture. 7 VerDate Aug 31 2005 00:09 Nov 07, 2007 Jkt 038665 PO 00000 Frm 00007 Fmt 3401 Sfmt 3401 E:\HR\OC\ECOIND.007 ECOIND g:\graphics\eecoind.007 Period CORPORATE PROFITS In the second quarter of 2007, according to current estimates, corporate profits before tax rose $115.7 billion (annual rate) and profits after tax rose $78.1 billion. [Billions of dollars; quarterly data at seasonally adjusted annual rates] Profits (before tax) with inventory valuation adjustment 1 Profits after tax Domestic industries Nonfinancial Total 2 ccoleman on PROD1PC69 with ECOIND Total Financial Total 3 Manufacturing Utilities Wholesale Retail Total Net dividends Undistributed profits Inventory valuation adjustment 1997 .......... 1998 .......... 812.3 738.5 701.4 635.5 193.0 165.9 508.4 469.6 209.0 173.5 ................ ................ 47.6 52.3 64.2 73.4 798.2 718.3 246.1 248.3 552.1 470.0 334.5 351.6 217.6 118.3 14.1 20.2 1998 4 ....... 1999 .......... 2000 .......... 2001 .......... 2002 .......... 2003 .......... 2004 .......... 2005 .......... 2006 .......... 2004: I ..... II ... III .. IV .. 2005: I ..... II ... III .. IV .. 2006: I ..... II ... III .. IV .. 2007: I ..... II ... III p 738.5 776.8 759.3 719.2 766.2 894.5 1,161.6 1,543.4 1,769.5 1,094.6 1,147.7 1,159.7 1,244.3 1,513.0 1,559.3 1,495.4 1,605.9 1,708.8 1,784.6 1,816.2 1,768.2 1,775.6 1,876.8 .............. 635.5 655.3 613.6 549.5 610.4 729.0 968.2 1,325.2 1,512.2 892.7 959.9 954.7 1,065.4 1,309.0 1,347.6 1,255.0 1,389.3 1,466.7 1,525.2 1,566.4 1,490.4 1,477.7 1,562.1 .............. 165.4 194.3 200.2 227.6 276.4 317.3 348.9 423.6 505.3 347.3 350.2 292.4 405.7 464.8 429.3 364.8 435.6 478.7 521.0 500.3 521.0 493.0 546.4 ............ 470.1 461.1 413.4 322.0 334.0 411.8 619.3 901.6 1,006.9 545.4 609.7 662.4 659.6 844.2 918.4 890.2 953.8 987.9 1,004.2 1,066.1 969.5 984.7 1,015.7 ............ 157.0 150.6 144.3 52.6 48.2 76.0 152.7 251.2 293.4 134.2 148.3 158.4 170.0 244.2 244.9 252.5 263.1 276.1 298.0 319.5 280.2 298.9 347.0 ................ 32.7 33.1 24.4 24.7 10.6 11.6 18.6 28.4 35.7 15.2 17.8 18.6 22.8 30.2 30.4 19.9 32.9 31.7 35.3 37.8 37.8 36.4 41.2 ................ 53.2 55.5 59.7 52.1 49.3 55.2 79.2 95.2 97.0 69.0 79.6 91.4 76.8 89.0 107.4 87.2 97.4 93.3 85.4 118.1 91.1 97.8 104.9 .............. 66.4 65.2 59.6 71.0 79.4 86.8 91.1 114.4 124.5 96.2 91.1 87.7 89.2 99.6 122.6 108.5 126.9 119.4 119.6 126.9 132.1 134.3 134.4 .............. 718.3 775.9 773.4 707.9 768.4 908.1 1,204.7 1,579.6 1,805.8 1,128.3 1,199.6 1,199.3 1,291.5 1,558.3 1,578.7 1,528.3 1,653.0 1,740.2 1,842.3 1,851.4 1,789.2 1,815.8 1,931.5 ............ 248.3 258.6 265.2 204.1 192.6 243.3 307.4 392.9 453.9 282.5 307.1 302.5 337.3 389.0 393.8 373.1 415.6 432.8 460.0 470.4 452.4 452.5 490.1 ............ 470.0 517.2 508.2 503.8 575.8 664.8 897.3 1,186.7 1,351.9 845.8 892.5 896.7 954.2 1,169.4 1,184.9 1,155.2 1,237.3 1,307.3 1,382.4 1,381.0 1,336.8 1,363.3 1,441.4 .............. 351.6 337.4 377.9 370.9 399.2 424.7 539.5 601.4 698.9 473.9 500.7 528.5 654.8 566.0 588.1 612.6 638.7 662.5 685.6 711.1 736.4 759.4 784.2 807.7 118.3 179.9 130.3 132.9 176.6 240.1 357.8 585.3 653.0 371.9 391.8 368.3 299.3 603.4 596.8 542.6 598.6 644.9 696.8 670.0 600.3 603.9 657.2 .............. 20.2 1.0 ¥14.1 11.3 ¥2.2 ¥13.6 ¥43.1 ¥36.2 ¥36.3 ¥33.7 ¥51.9 ¥39.6 ¥47.2 ¥45.3 ¥19.4 ¥32.9 ¥47.0 ¥31.4 ¥57.7 ¥35.2 ¥21.0 ¥40.2 ¥54.7 ............ 1 See p. 4 for profits with inventory valuation and capital consumption adjustments. rest of the world, not shown separately. industries not shown separately. 2 Includes 3 Includes 4 Data by industry beginning 1998 are based on the 1997 North American Industry Classification System (NAICS) and are not directly comparable with data for prior years shown, which are based on the 1987 Standard Industrial Classification (SIC). Source: Department of Commerce, Bureau of Economic Analysis. 8 VerDate Aug 31 2005 00:09 Nov 07, 2007 Jkt 038665 PO 00000 Frm 00008 Fmt 3401 Sfmt 3401 E:\HR\OC\ECOIND.008 ECOIND g:\graphics\eecoind.008 Period Profits before tax Taxes on corporate income REAL GROSS PRIVATE DOMESTIC INVESTMENT In the third quarter of 2007, according to advance estimates, nonresidential fixed investment in chained (2000) dollars rose $26.1 billion (annual rate) and residential investment fell $26.8 billion. There was an increase of $15.7 billion in inventories following an increase of $5.8 billion in the second quarter. [Billions of chained (2000) dollars; quarterly data at seasonally adjusted annual rates] Fixed investment Period ccoleman on PROD1PC69 with ECOIND 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 Change in private inventories Nonresidential Total Total Equipment and software Residential Structures Total Nonfarm ................................................................................. ................................................................................. ................................................................................. ................................................................................. ................................................................................. ................................................................................. ................................................................................. ................................................................................. ................................................................................. ................................................................................. 1,387.7 1,524.1 1,642.6 1,735.5 1,598.4 1,557.1 1,613.1 1,770.2 1,869.3 1,919.5 1,320.6 1,455.0 1,576.3 1,679.0 1,629.4 1,544.6 1,596.9 1,712.8 1,831.4 1,874.7 934.2 1,037.8 1,133.3 1,232.1 1,180.5 1,071.5 1,081.8 1,144.3 1,225.8 1,306.8 280.1 294.5 293.2 313.2 306.1 253.8 243.5 246.7 247.8 268.6 658.3 745.6 840.2 918.9 874.2 820.2 843.1 905.1 991.8 1,050.6 388.6 418.3 443.6 446.9 448.5 469.9 509.4 560.2 597.1 569.5 71.2 72.6 68.9 56.5 ¥31.7 12.5 14.3 54.3 33.2 40.3 68.5 71.2 71.5 57.8 ¥31.8 15.2 14.0 48.2 34.0 41.7 2004: I ............................................................................ II ........................................................................... III ......................................................................... IV .......................................................................... 1,685.3 1,766.3 1,800.5 1,828.8 1,647.9 1,698.7 1,736.7 1,767.7 1,099.1 1,127.5 1,160.7 1,189.7 242.9 246.5 248.7 248.6 861.9 887.4 920.0 951.2 540.5 561.7 567.5 570.9 35.0 64.9 60.1 57.2 30.4 50.5 55.4 56.4 2005: I ............................................................................ II ........................................................................... III ......................................................................... IV .......................................................................... 1,852.6 1,834.3 1,865.3 1,924.9 1,785.3 1,819.8 1,854.9 1,865.6 1,199.5 1,214.1 1,239.5 1,250.0 249.8 248.9 244.8 247.7 960.0 977.4 1,011.1 1,018.7 578.3 596.4 606.4 607.2 63.4 10.1 5.9 53.6 69.0 11.5 3.9 51.6 2006: I ............................................................................ II ........................................................................... III ......................................................................... IV .......................................................................... 1,945.4 1,948.5 1,928.2 1,856.2 1,901.4 1,892.3 1,869.6 1,835.5 1,289.7 1,303.2 1,319.4 1,314.8 256.5 266.4 273.3 278.3 1,050.2 1,050.1 1,057.6 1,044.4 606.1 587.5 555.0 529.4 38.4 51.4 53.9 17.4 38.0 57.6 57.6 13.6 2007: I ............................................................................ II ........................................................................... III p ........................................................................ 1,816.9 1,837.4 1,841.3 1,815.2 1,829.3 1,822.5 1,321.7 1,356.6 1,382.7 282.6 299.5 308.4 1,045.3 1,057.4 1,072.7 506.3 490.7 463.9 .1 5.8 15.7 ¥5.8 1.3 12.4 NOTE.—See p. 10 for further detail on fixed investment by type. Because of the formula used for calculating real GDP, the chained (2000) dollar estimates for the detailed components do not add to the chained-dollar value of GDP or to any intermediate aggregates. Source: Department of Commerce, Bureau of Economic Analysis. 9 VerDate Aug 31 2005 00:09 Nov 07, 2007 Jkt 038665 PO 00000 Frm 00009 Fmt 3401 Sfmt 3401 E:\HR\OC\ECOIND.009 ECOIND g:\graphics\eecoind.009 Gross private domestic investment REAL PRIVATE FIXED INVESTMENT BY TYPE [Billions of chained (2000) dollars; quarterly data at seasonally adjusted annual rates] Nonresidential Residential Equipment and software Period 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 Structures Information processing equipment and software Total fixed investment Total nonresidential Structures Total Computers and peripheral equipment 1 Software Total Transportation equipment Other equipment Total residential Total 2 Single family Other Industrial equipment Equipment ........................... ........................... ........................... ........................... ........................... ........................... ........................... ........................... ........................... ........................... 1,320.6 1,455.0 1,576.3 1,679.0 1,629.4 1,544.6 1,596.9 1,712.8 1,831.4 1,874.7 934.2 1,037.8 1,133.3 1,232.1 1,180.5 1,071.5 1,081.8 1,144.3 1,225.8 1,306.8 280.1 294.5 293.2 313.2 306.1 253.8 243.5 246.7 247.8 268.6 658.3 745.6 840.2 918.9 874.2 820.2 843.1 905.1 991.8 1,050.6 269.9 328.9 398.5 467.6 459.0 437.4 462.7 505.7 554.3 595.9 ............. ............. ............. ............. ............. ............. ............. ............. ............. ............. 108.8 129.4 157.2 176.2 173.8 169.7 177.3 193.6 205.7 213.0 127.3 143.2 158.0 190.0 181.7 161.1 167.1 181.1 191.5 204.8 143.0 148.1 147.9 159.2 145.7 134.5 138.4 134.0 144.3 149.6 135.9 145.4 167.7 160.8 142.8 126.0 113.8 130.6 145.1 155.2 115.8 125.7 126.7 131.2 126.9 122.9 130.4 138.3 151.9 156.2 388.6 418.3 443.6 446.9 448.5 469.9 509.4 560.2 597.1 569.5 382.4 411.9 436.6 439.5 441.1 462.2 501.2 551.2 587.7 560.0 196.6 218.1 234.2 236.8 237.1 246.3 272.6 305.3 328.3 302.7 6.1 6.4 7.0 7.4 7.4 7.7 8.1 9.0 9.3 9.7 2004: I ...................... II ..................... III ................... IV .................... 1,647.9 1,698.7 1,736.7 1,767.7 1,099.1 1,127.5 1,160.7 1,189.7 242.9 246.5 248.7 248.6 861.9 887.4 920.0 951.2 494.2 499.3 507.5 521.7 ............. ............. ............. ............. 190.5 190.5 193.9 199.3 179.2 183.0 181.2 181.0 129.1 131.5 136.9 138.7 112.0 125.5 137.0 147.9 132.7 135.3 140.8 144.5 540.5 561.7 567.5 570.9 531.8 552.8 558.5 561.7 295.4 305.6 310.1 310.1 8.7 8.8 9.1 9.2 2005: I ...................... II ..................... III ................... IV .................... 1,785.3 1,819.8 1,854.9 1,865.6 1,199.5 1,214.1 1,239.5 1,250.0 249.8 248.9 244.8 247.7 960.0 977.4 1,011.1 1,018.7 537.4 548.8 560.5 570.6 ............. ............. ............. ............. 201.6 206.0 206.7 208.3 188.9 188.3 194.6 194.2 142.8 139.4 145.9 149.2 138.2 142.0 153.2 147.0 145.7 151.6 154.2 156.1 578.3 596.4 606.4 607.2 569.1 587.1 597.0 597.6 317.5 325.7 332.3 337.9 9.2 9.3 9.3 9.5 2006: I ...................... II ..................... III ................... IV .................... 1,901.4 1,892.3 1,869.6 1,835.5 1,289.7 1,303.2 1,319.4 1,314.8 256.5 266.4 273.3 278.3 1,050.2 1,050.1 1,057.6 1,044.4 589.8 592.1 602.0 599.6 ............. ............. ............. ............. 211.0 212.1 213.8 215.1 206.3 203.3 207.1 202.6 147.0 152.0 150.9 148.4 160.3 153.3 156.3 150.9 157.8 157.9 155.2 153.7 606.1 587.5 555.0 529.4 596.3 577.9 545.5 520.1 338.5 318.8 291.1 262.4 9.7 9.7 9.7 9.6 2007: I ...................... II ..................... III p .................. 1,815.2 1,829.3 1,822.5 1,321.7 1,356.6 1,382.7 282.6 299.5 308.4 1,045.3 1,057.4 1,072.7 623.3 638.5 647.1 ............. ............. ............. 219.9 225.6 229.6 209.2 213.4 214.2 147.3 152.9 156.0 144.8 135.3 136.9 144.8 148.0 150.1 506.3 490.7 463.9 497.1 481.6 454.9 240.2 231.2 215.4 9.6 9.5 9.6 1 For details on this component, see Survey of Current Business, Tables 5.3.6, 5.3.1 for growth rates, 5.3.2 for contributions, and 5.3.3 for quantity indexes. 2 Includes other items, not shown separately. NOTE.—Because of the formula used for calculating real GDP, the chained (2000) dollar estimates for the detailed components do not add to the chained-dollar value of GDP or to any intermediate aggregates. Source: Department of Commerce, Bureau of Economic Analysis. BUSINESS INVESTMENT [Billions of dollars] Capital expenditures By industry Period Total capital expenditures Total by industry Forestry, fishing Con- Manuand Min- Utili- strucfacagriing ties turtion culing tural services ProFor Real fesscomTransesional, Health panies portaFiscien- care withWhole- Retail tion Infor- nance tate and tific, and out 1 sale and maand Other and social emtrade trade waretion insur- rental and tech- assisployhousance leasnical tance ees ing ing services For companies with employees ccoleman on PROD1PC69 with ECOIND 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 ............................ ............................ ............................ ............................ ............................ ............................ ............................ ............................ ............................ ............................ 807.1 .............. ........... ........ ......... .......... ........... ............ .......... ............ .......... .......... .......... .......... ........... ........... .......... 871.8 .............. ........... ........ ......... .......... ........... ............ .......... ............ .......... .......... .......... .......... ........... ........... .......... 970.9 896.5 0.9 40.4 36.0 26.9 203.6 29.2 57.3 51.3 96.5 118.2 85.2 22.3 47.1 81.7 74.4 1,047.0 974.6 1.7 30.6 42.8 23.1 196.4 32.4 64.1 57.3 122.8 130.1 100.6 29.5 51.3 91.8 72.3 1,161.0 1,089.9 1.5 42.5 61.3 25.0 214.8 33.6 69.8 59.9 160.2 133.7 92.5 34.1 52.2 108.9 71.2 1,109.0 1,052.3 1.5 51.3 82.8 24.8 192.8 30.0 66.9 57.8 144.8 131.1 82.7 30.5 52.9 102.5 56.7 997.9 917.5 1.9 42.5 65.5 24.8 157.2 26.8 59.3 47.1 88.2 128.4 94.5 25.9 59.3 96.1 80.4 975.0 886.8 1.9 50.5 54.6 23.2 149.1 26.0 65.9 44.5 80.5 120.8 88.0 24.7 61.2 96.2 88.2 1,042.1 953.2 2.1 51.3 50.4 28.6 156.7 32.3 72.2 46.1 83.5 153.6 91.6 26.7 64.6 93.6 88.9 1,145.9 1,063.7 2.7 66.8 58.4 30.1 165.2 40.5 73.8 56.6 91.3 161.6 103.2 33.3 73.8 106.4 82.2 1 Includes the following industries: Management of companies and enterprises; administrative and support and waste management; educational services; arts, entertainment, and recreation; accommodation and food services; and other services (except public administration). Also includes an item for structure and equipment expenditures serving multiple industry categories. NOTE.—Data from Annual Capital Expenditures. Industry data are based on the North American Industry Classification System (NAICS). Data shown in this table are capital expenditures for both new and used structures and equipment. Source: Department of Commerce, Bureau of the Census. 10 VerDate Aug 31 2005 00:09 Nov 07, 2007 Jkt 038665 PO 00000 Frm 00010 Fmt 3401 Sfmt 3401 E:\HR\OC\ECOIND.010 ECOIND EMPLOYMENT, UNEMPLOYMENT, AND WAGES STATUS OF THE LABOR FORCE In October, employment fell by 250,000 and unemployment rose by 38,000. [Thousands of persons 16 years of age and over, except as noted; monthly data seasonally adjusted except as noted by NSA] Civilian employment 1997 2 .................... 1998 2 .................... 1999 2 .................... 2000 2 .................... 2001 ..................... 2002 ...................... 2003 2 .................... 2004 2 .................... 2005 2 .................... 2006 2 .................... 2006: Oct ............ Nov ............ Dec ............ 2007: Jan 2 .......... Feb ............ Mar ........... Apr ............ May ........... June .......... July ........... Aug ........... Sept ........... Oct ............ Civilian noninstitutional population (NSA) Civilian labor force 203,133 205,220 207,753 212,577 215,092 217,570 221,168 223,357 226,082 228,815 229,675 229,905 230,108 230,650 230,834 231,034 231,253 231,480 231,713 231,958 232,211 232,461 232,715 136,297 137,673 139,368 142,583 143,734 144,863 146,510 147,401 149,320 151,428 152,052 152,449 152,775 152,974 152,784 152,979 152,587 152,762 153,072 153,231 152,891 153,464 153,253 Total Men 20 years and over Women 20 years and over Both sexes 16–19 years 129,558 131,463 133,488 136,891 136,933 136,485 137,736 139,252 141,730 144,427 145,337 145,623 145,926 145,957 145,919 146,254 145,786 145,943 146,140 146,110 145,794 146,257 146,007 66,284 67,135 67,761 69,634 69,776 69,734 70,415 71,572 73,050 74,431 74,924 75,088 75,235 75,158 75,138 75,323 75,313 75,380 75,312 75,362 75,284 75,296 75,276 56,613 57,278 58,555 60,067 60,417 60,420 61,402 61,773 62,702 63,834 64,252 64,333 64,491 64,654 64,703 64,912 64,502 64,701 64,855 64,808 64,845 65,068 64,826 6,661 7,051 7,172 7,189 6,740 6,332 5,919 5,907 5,978 6,162 6,161 6,202 6,200 6,145 6,078 6,019 5,970 5,862 5,972 5,940 5,665 5,894 5,905 1 Civilian labor force (or employment) as percent of civilian noninstitutional population; and unemployment as percent of civilian labor force. 2 Not strictly comparable with earlier data. NOTE.—Beginning January 2007 data reflect revised population controls and are not strictly comparable with earlier data. Total 6,739 6,210 5,880 5,692 6,801 8,378 8,774 8,149 7,591 7,001 6,715 6,826 6,849 7,017 6,865 6,724 6,801 6,819 6,933 7,121 7,097 7,207 7,245 Men 20 years and over 2,882 2,580 2,433 2,376 3,040 3,896 4,209 3,791 3,392 3,131 3,012 3,036 3,100 3,226 3,237 3,129 3,146 3,144 3,190 3,289 3,228 3,340 3,378 Women 20 years and over Both sexes 16–19 years 2,585 2,424 2,285 2,235 2,599 3,228 3,314 3,150 3,013 2,751 2,599 2,691 2,641 2,707 2,564 2,576 2,581 2,580 2,619 2,771 2,783 2,746 2,773 1,271 1,205 1,162 1,081 1,162 1,253 1,251 1,208 1,186 1,119 1,104 1,099 1,108 1,083 1,064 1,020 1,075 1,095 1,124 1,062 1,086 1,120 1,094 Not in labor force Labor force participation rate Employment/ population ratio Unemployment rate 67.1 67.1 67.1 67.1 66.8 66.6 66.2 66.0 66.0 66.2 66.2 66.3 66.4 66.3 66.2 66.2 66.0 66.0 66.1 66.1 65.8 66.0 65.9 63.8 64.1 64.3 64.4 63.7 62.7 62.3 62.3 62.7 63.1 63.3 63.3 63.4 63.3 63.2 63.3 63.0 63.0 63.1 63.0 62.8 62.9 62.7 4.9 4.5 4.2 4.0 4.7 5.8 6.0 5.5 5.1 4.6 4.4 4.5 4.5 4.6 4.5 4.4 4.5 4.5 4.5 4.6 4.6 4.7 4.7 66,837 67,547 68,385 69,994 71,359 72,707 74,658 75,956 76,762 77,387 77,623 77,456 77,333 77,676 78,050 78,055 78,666 78,718 78,641 78,727 79,319 78,997 79,462 See Employment and Earnings for details on breaks in series. Source: Department of Labor, Bureau of Labor Statistics. 11 VerDate Aug 31 2005 00:09 Nov 07, 2007 Jkt 038665 PO 00000 Frm 00011 Fmt 3401 Sfmt 3401 E:\HR\OC\ECOIND.011 ECOIND g:\graphics\eecoind.011 ccoleman on PROD1PC69 with ECOIND Period Percent 1 Unemployment SELECTED UNEMPLOYMENT RATES In October, the unemployment rate was unchanged from September at 4.7 percent. [Monthly data seasonally adjusted] Unemployment rate (percent of civilian labor force in group) By race or ethnicity 1 ccoleman on PROD1PC69 with ECOIND Period All civilian workers 1997 ......................... 1998 ......................... 1999 ......................... 2000 ........................ 2001 ........................ 2002 ........................ 2003 ........................ 2004 ......................... 2005 ......................... 2006 ......................... 2006: Oct ................ Nov ............... Dec ............... 2007: Jan ............... Feb ............... Mar ............... Apr ............... May ............... June .............. July ............... Aug ............... Sept .............. Oct ................ Men 20 years and over Women 20 years and over 4.2 3.7 3.5 3.3 4.2 5.3 5.6 5.0 4.4 4.0 3.9 3.9 4.0 4.1 4.1 4.0 4.0 4.0 4.1 4.2 4.1 4.2 4.3 4.4 4.1 3.8 3.6 4.1 5.1 5.1 4.9 4.6 4.1 3.9 4.0 3.9 4.0 3.8 3.8 3.8 3.8 3.9 4.1 4.1 4.0 4.1 4.9 4.5 4.2 4.0 4.7 5.8 6.0 5.5 5.1 4.6 4.4 4.5 4.5 4.6 4.5 4.4 4.5 4.5 4.5 4.6 4.6 4.7 4.7 Both sexes 16–19 years 16.0 14.6 13.9 13.1 14.7 16.5 17.5 17.0 16.6 15.4 15.2 15.1 15.2 15.0 14.9 14.5 15.3 15.7 15.8 15.2 16.1 16.0 15.6 White 4.2 3.9 3.7 3.5 4.2 5.1 5.2 4.8 4.4 4.0 3.9 3.9 4.0 4.1 4.0 3.8 3.9 3.9 4.0 4.2 4.2 4.2 4.2 1 Beginning in 2003, persons who selected this race group only. Prior to 2003, persons who reported more than one race were included in the group they identified as the main race. Persons whose ethnicity is identified as Hispanic or Latino may be of any race. By selected groups Black or African American Asian (NSA) Hispanic or Latino ethnicity 10.0 8.9 8.0 7.6 8.6 10.2 10.8 10.4 10.0 8.9 8.5 8.6 8.4 8.0 7.9 8.3 8.2 8.5 8.5 8.0 7.7 8.1 8.5 .......... .......... .......... 3.6 4.5 5.9 6.0 4.4 4.0 3.0 2.7 3.2 2.4 3.2 2.7 3.0 3.3 2.9 3.1 3.0 3.4 3.2 3.7 7.7 7.2 6.4 5.7 6.6 7.5 7.7 7.0 6.0 5.2 4.6 5.0 4.9 5.7 5.2 5.1 5.4 5.8 5.7 5.9 5.5 5.7 5.6 Married men, spouse present 00:09 Nov 07, 2007 Jkt 038665 PO 00000 Frm 00012 Fmt 3401 Full-time workers Part-time workers 8.1 7.2 6.4 5.9 6.6 8.0 8.5 8.0 7.8 7.1 6.5 6.9 6.2 6.6 6.5 6.7 6.2 6.3 6.8 6.8 6.2 6.4 6.3 4.8 4.3 4.1 3.8 4.7 5.9 6.1 5.6 5.0 4.5 4.3 4.4 4.4 4.5 4.4 4.4 4.4 4.4 4.5 4.6 4.6 4.7 4.7 5.5 5.3 5.0 4.8 5.1 5.2 5.5 5.3 5.4 5.1 5.1 5.0 4.8 5.0 4.9 4.5 5.0 4.9 4.6 5.0 4.9 4.7 4.9 2.7 2.4 2.2 2.0 2.7 3.6 3.8 3.1 2.8 2.4 2.3 2.3 2.5 2.5 2.7 2.5 2.5 2.6 2.4 2.7 2.4 2.4 2.5 NOTE.—Data relate to persons age 16 years and over. Source: Department of Labor, Bureau of Labor Statistics. 12 VerDate Aug 31 2005 Women who maintain families (NSA) Sfmt 3401 E:\HR\OC\ECOIND.012 ECOIND g:\graphics\eecoind.012 By sex and age SELECTED MEASURES OF UNEMPLOYMENT AND UNEMPLOYMENT INSURANCE PROGRAMS In October, the percentages of the unemployed who had been out of work for less than 5 weeks and 15–26 weeks fell; the percentages for 5–14 weeks and for 27 weeks and over rose. The mean duration of unemployment rose to 17.1 weeks and the median duration fell to 8.7 weeks. [Monthly data seasonally adjusted, except as noted] Duration of unemployment Period Unemployment (thousands) Percent distribution Less than 5 weeks 5–14 weeks 15–26 weeks Reason for unemployment: percent distribution State programs Number of weeks 27 weeks and over Average (mean) Median Job losers 1 Job leavers Reentrants New entrants Insured unemployment Initial claims Insured unemployment, all regular programs (unadjusted) 2 1997 ........................................ 1998 ........................................ 1999 ........................................ 2000 ........................................ 2001 ........................................ 2002 ........................................ 2003 ........................................ 2004 ........................................ 2005 ........................................ 2006 ........................................ 2006: Oct ............................... Nov .............................. Dec ............................... 2007: Jan .............................. Feb .............................. Mar .............................. Apr ............................... May .............................. June ............................. July .............................. Aug .............................. Sept ............................. Oct ............................... 6,739 6,210 5,880 5,692 6,801 8,378 8,774 8,149 7,591 7,001 6,715 6,826 6,849 7,017 6,865 6,724 6,801 6,819 6,933 7,121 7,097 7,207 7,245 37.7 42.2 43.7 44.9 42.0 34.5 31.7 33.1 35.1 37.3 38.5 37.0 39.7 37.5 37.5 34.9 35.6 35.6 36.1 34.8 36.3 34.8 34.1 31.7 31.4 31.2 31.9 32.3 30.8 29.8 29.2 30.4 30.3 30.7 31.4 29.8 32.4 31.6 32.4 31.3 32.0 30.8 31.2 30.3 32.2 33.8 14.8 12.3 12.8 11.8 14.0 16.3 16.4 15.9 14.9 14.7 14.5 14.8 14.5 14.0 13.1 14.3 15.7 16.0 16.9 15.6 15.9 15.4 14.2 15.8 14.1 12.3 11.4 11.8 18.3 22.1 21.8 19.6 17.6 16.2 16.8 16.0 16.1 17.8 18.4 17.5 16.4 16.2 18.4 17.4 17.6 18.0 1 Beginning January 1994, job losers and persons who completed temporary jobs. 2 Includes State (50 States, District of Columbia, Puerto Rico, and Virgin Islands), ex-servicemen (UCX), and Federal (UCFE). Also includes Federal and State extended benefit programs. Does not include Railroad (RR) program, Federal supplemental compensation or Emergency Unemployment Compensation programs. 15.8 14.5 13.4 12.6 13.1 16.6 19.2 19.6 18.4 16.8 16.4 16.3 15.9 16.2 16.4 17.3 17.1 16.7 16.8 17.2 16.9 16.5 17.1 8.0 6.7 6.4 5.9 6.8 9.1 10.1 9.8 8.9 8.3 8.0 8.2 7.3 8.1 8.1 8.5 8.7 8.3 8.2 8.9 8.6 9.0 8.7 45.1 45.5 44.6 44.2 51.1 55.0 55.1 51.5 48.3 47.4 46.0 46.5 47.3 48.6 50.1 48.0 48.2 49.0 48.7 50.9 51.2 49.3 50.8 11.8 11.8 13.3 13.7 12.3 10.3 9.3 10.5 11.5 11.8 11.7 11.6 11.8 11.2 11.8 11.2 11.0 11.2 11.7 11.6 11.2 11.6 10.9 34.7 34.3 34.1 34.5 29.9 28.3 28.2 29.5 31.4 32.0 33.5 33.3 32.1 31.5 29.6 31.9 31.9 31.7 30.7 29.2 29.2 29.5 28.6 8.4 8.4 8.0 7.6 6.8 6.4 7.3 8.4 8.8 8.8 8.8 8.6 8.8 8.7 8.4 8.9 8.9 8.1 9.0 8.3 8.4 9.6 9.7 2,323 2,222 2,188 2,110 2,974 3,585 3,531 2,950 2,661 2,476 2,433 2,458 2,457 2,488 2,553 2,513 2,536 2,496 2,527 2,547 2,578 2,534 .............. 323 321 298 301 404 407 404 345 328 313 314 325 320 311 337 317 327 306 319 307 324 313 p 327 2,366 2,257 2,219 2,141 3,007 3,619 3,569 2,995 2,706 2,518 2,281 2,218 2,630 3,159 3,101 2,738 2,830 2,238 2,279 2,703 2,269 2,344 ................. NOTE.—Data relate to persons age 16 years and over (except for insured unemployment and initial claims). Source: Department of Labor (Bureau of Labor Statistics and Employment and Training Administration). 13 VerDate Aug 31 2005 00:09 Nov 07, 2007 Jkt 038665 PO 00000 Frm 00013 Fmt 3401 Sfmt 3401 E:\HR\OC\ECOIND.013 ECOIND g:\graphics\eecoind.013 ccoleman on PROD1PC69 with ECOIND Weekly average, thousands NONAGRICULTURAL EMPLOYMENT Total nonagricultural employment as measured by the payroll survey rose by 166,000 in October. [Thousands of wage and salary workers; 1 monthly data seasonally adjusted] Goods-producing industries ...................... ...................... ...................... ...................... ...................... ...................... ...................... ...................... ...................... ...................... Oct ............. Nov ............ Dec ............. 2007: Jan ............. Feb ............ Mar ............ Apr ............. May ............ June ........... July ............ Aug r ........... Sept r .......... Oct p ............ ccoleman on PROD1PC69 with ECOIND 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2006: 122,776 125,930 128,993 131,785 131,826 130,341 129,999 131,435 133,703 136,174 136,745 136,941 137,167 137,329 137,419 137,594 137,716 137,904 137,973 138,066 138,159 138,255 138,421 Total 2 23,886 24,354 24,465 24,649 23,873 22,557 21,816 21,882 22,190 22,570 22,573 22,525 22,520 22,554 22,465 22,497 22,460 22,446 22,436 22,421 22,349 22,318 22,294 Construction Manufacturing 5,813 6,149 6,545 6,787 6,826 6,716 6,735 6,976 7,336 7,689 7,707 7,683 7,684 7,718 7,641 7,692 7,671 7,659 7,665 7,649 7,620 7,606 7,601 17,419 17,560 17,322 17,263 16,441 15,259 14,510 14,315 14,226 14,197 14,166 14,143 14,131 14,130 14,113 14,090 14,072 14,069 14,050 14,046 14,001 13,984 13,963 Service-providing industries Total 98,890 101,576 104,528 107,136 107,952 107,784 108,182 109,553 111,513 113,605 114,172 114,416 114,647 114,775 114,954 115,097 115,256 115,458 115,537 115,645 115,810 115,937 116,127 Trade, transportation, and utilities Total 3 Retail trade 24,700 25,186 25,771 26,225 25,983 25,497 25,287 25,533 25,959 26,231 26,258 26,320 26,345 26,378 26,393 26,436 26,427 26,459 26,465 26,489 26,494 26,505 26,495 14,389 14,609 14,970 15,280 15,239 15,025 14,917 15,058 15,280 15,319 15,298 15,328 15,324 15,358 15,365 15,404 15,377 15,395 15,383 15,390 15,386 15,373 15,352 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. 2 Includes 3 Includes Information 3,084 3,218 3,419 3,631 3,629 3,395 3,188 3,118 3,061 3,055 3,054 3,057 3,073 3,071 3,084 3,086 3,096 3,097 3,093 3,091 3,087 3,095 3,092 Financial activities 7,178 7,462 7,648 7,687 7,807 7,847 7,977 8,031 8,153 8,363 8,415 8,422 8,438 8,440 8,446 8,445 8,448 8,464 8,460 8,476 8,463 8,450 8,452 Profes- Educasional tion Leisure and and and busihealth hospiness services tality services 14,335 15,147 15,957 16,666 16,476 15,976 15,987 16,395 16,954 17,552 17,662 17,726 17,792 17,804 17,840 17,834 17,859 17,893 17,886 17,911 17,942 17,965 18,030 14,087 14,446 14,798 15,109 15,645 16,199 16,588 16,953 17,372 17,838 17,976 18,018 18,063 18,102 18,138 18,188 18,246 18,293 18,364 18,422 18,484 18,513 18,556 00:09 Nov 07, 2007 Jkt 038665 PO 00000 Frm 00014 Fmt 3401 Government Total 4,825 4,976 5,087 5,168 5,258 5,372 5,401 5,409 5,395 5,432 5,450 5,443 5,449 5,444 5,454 5,462 5,470 5,479 5,481 5,480 5,478 5,474 5,475 19,664 19,909 20,307 20,790 21,118 21,513 21,583 21,621 21,804 21,990 22,100 22,106 22,114 22,140 22,174 22,197 22,229 22,236 22,234 22,210 22,273 22,296 22,332 Federal 2,806 2,772 2,769 2,865 2,764 2,766 2,761 2,730 2,732 2,728 2,725 2,719 2,713 2,718 2,718 2,716 2,716 2,713 2,708 2,713 2,714 2,709 2,709 natural resources and mining, not shown separately. wholesale trade, transportation and warehousing, and utilities, not shown sepa- rately. NOTE.—Data classified by industry based on the 2002 North American Industry Classification System (NAICS). For details see Employment and Earnings, June 2003. Source: Department of Labor, Bureau of Labor Statistics. 14 VerDate Aug 31 2005 11,018 11,232 11,543 11,862 12,036 11,986 12,173 12,493 12,816 13,143 13,257 13,324 13,373 13,396 13,425 13,449 13,481 13,537 13,554 13,566 13,589 13,639 13,695 Other services Sfmt 3401 E:\HR\OC\ECOIND.014 ECOIND g:\graphics\eecoind.014 Period Total nonagricultural employment AVERAGE WEEKLY HOURS, HOURLY EARNINGS, AND WEEKLY EARNINGS PRIVATE NONAGRICULTURAL INDUSTRIES [For production or nonsupervisory workers; monthly data seasonally adjusted] Average weekly hours Average gross hourly earnings Manufacturing Total private nonagricultural 1 Period 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2006: .................... ..................... ..................... .................... ..................... ..................... ..................... ..................... ..................... ..................... Sept .......... Oct ............ Nov ........... Dec ........... 2007: Jan ........... Feb ........... Mar ........... Apr ........... May ........... June .......... July ........... Aug r .......... Sept r ......... Oct p .......... 34.5 34.5 34.3 34.3 34.0 33.9 33.7 33.7 33.8 33.9 33.8 33.9 33.8 33.9 33.8 33.7 33.9 33.8 33.8 33.9 33.8 33.8 33.8 33.8 Total 41.7 41.4 41.4 41.3 40.3 40.5 40.4 40.8 40.7 41.1 41.1 41.2 41.0 41.0 40.9 40.9 41.2 41.1 41.1 41.4 41.3 41.4 41.3 41.2 Average gross weekly earnings Total private nonagricultural 1 Current dollars Overtime 5.1 4.8 4.8 4.7 4.0 4.2 4.2 4.6 4.6 4.4 4.3 4.3 4.1 4.2 4.1 4.1 4.3 4.2 4.1 4.3 4.2 4.1 4.1 4.1 $12.51 13.01 13.49 14.02 14.54 14.97 15.37 15.69 16.13 16.76 16.88 16.94 16.99 17.07 17.10 17.16 17.21 17.25 17.32 17.40 17.45 17.50 17.55 17.58 1982 dollars 2 $7.69 7.89 8.01 8.04 8.12 8.25 8.28 8.24 8.18 8.24 8.25 8.34 8.36 8.36 8.36 8.36 8.32 8.30 8.26 8.29 8.31 8.35 8.35 .............. Total private nonagricultural 1 Manufacturing $13.14 13.45 13.85 14.32 14.76 15.29 15.74 16.15 16.56 16.80 16.83 16.88 16.89 16.95 16.98 17.03 17.09 17.18 17.20 17.26 17.28 17.31 17.35 17.37 1 Also includes other private industry groups shown on p. 14. 2 Current dollar earnings divided by the consumer price index for urban wage earners and clerical workers (CPI–W) (on a 1982=100 base). Percent change from a year earlier, total private nonagricultural Current dollars Current dollars 1982 dollars 2 Manufacturing Construction Retail trade $431.86 448.56 463.15 481.01 493.79 506.72 518.06 529.09 544.33 567.87 570.54 574.27 574.26 578.67 577.98 578.29 583.42 583.05 585.42 589.86 589.81 591.50 593.19 594.20 $265.60 272.18 275.03 275.97 275.71 279.18 279.13 277.88 276.17 279.19 278.99 282.61 282.47 283.25 282.54 281.61 281.92 280.46 279.35 281.16 280.78 282.13 282.23 .............. $548.22 557.12 573.17 590.65 595.19 618.75 635.99 659.59 673.37 690.83 691.71 695.46 692.49 694.95 694.48 696.53 704.11 706.10 706.92 714.56 713.66 716.63 716.56 715.64 $609.48 629.75 655.11 685.78 695.89 711.82 726.83 735.55 750.22 781.04 774.53 793.41 794.43 813.51 795.29 789.89 806.52 804.32 813.40 815.88 814.57 812.31 818.29 820.95 $295.97 310.34 321.63 333.38 346.16 360.81 367.15 371.13 377.58 383.16 384.56 385.78 385.52 385.17 385.78 383.84 384.14 385.05 385.05 385.65 385.88 386.48 388.37 387.09 Current dollars 4.5 3.9 3.3 3.9 2.7 2.6 2.2 2.1 2.9 4.3 4.1 4.2 4.2 4.6 4.1 3.8 4.3 3.4 4.0 4.0 3.6 3.9 4.0 3.5 1982 dollars 2.2 2.5 1.0 .3 ¥.1 1.3 ¥.0 ¥.4 ¥.6 1.1 2.3 3.3 2.4 2.1 2.2 1.5 1.6 .9 1.2 1.4 1.3 2.1 1.2 .............. Source: Department of Labor, Bureau of Labor Statistics. EMPLOYMENT COST INDEX—PRIVATE INDUSTRY Index (December 2005 = 100) Percent change from 3 months earlier Period Total compensation Wages and salaries Benefits 1 Total compensation Wages and salaries 12 months earlier Benefits 1 Total compensation Wages and salaries Benefits 1 Not seasonally adjusted 1997: 1998: 1999: 2000: 2001: 2002: 2003: 2004: 2005: 2006: Dec Dec Dec Dec Dec Dec Dec Dec Dec Dec ................................................................. ................................................................. ................................................................. ................................................................. ................................................................. ................................................................. ................................................................. ................................................................. ................................................................. ................................................................. 74.9 77.5 80.2 83.6 87.3 90.0 93.6 97.2 100.0 103.2 77.6 80.6 83.5 86.7 89.9 92.2 95.1 97.6 100.0 103.2 68.5 70.2 72.6 76.7 81.3 84.7 90.2 96.2 100.0 103.1 ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ .................. .................. .................. .................. .................. .................. .................. .................. .................. .................. Seasonally adjusted ccoleman on PROD1PC69 with ECOIND 2004: Mar ................................................................. June ............................................................... Sept ................................................................ Dec ................................................................. 2005: Mar ................................................................. June ............................................................... Sept ................................................................ Dec ................................................................. 2006: Mar ................................................................. June ............................................................... Sept ................................................................ Dec ................................................................. 2007: Mar ................................................................. June ............................................................... Sept ................................................................ 94.9 95.8 96.7 97.3 98.2 98.8 99.5 100.1 100.8 101.6 102.5 103.3 103.9 104.8 105.6 95.7 96.4 97.2 97.6 98.3 98.8 99.4 100.1 100.8 101.6 102.4 103.2 104.3 105.1 105.9 1 Employer costs for employee benefits. NOTE.—The employment cost index is a measure of the change in the cost of labor, free from the influence of employment shifts among occupations and industries. Data exclude farm and household workers. 92.9 94.4 95.4 96.5 98.0 98.8 99.6 100.3 100.8 101.5 102.5 103.4 103.1 104.2 105.0 1.2 .9 .9 .6 .9 .6 .7 .6 .7 .8 .9 .8 .6 .9 .8 3.5 3.5 3.5 4.2 4.1 3.1 4.0 3.8 2.9 3.2 3.9 3.9 3.6 3.8 3.8 2.6 3.1 2.6 2.5 3.2 2.2 2.5 3.4 5.6 5.2 4.2 6.5 6.7 4.0 3.1 Not seasonally adjusted 0.6 .7 .8 .4 .7 .5 .6 .7 .7 .8 .8 .8 1.1 .8 .8 2.7 1.6 1.1 1.2 1.6 .8 .8 .7 .5 .7 1.0 .9 ¥.3 1.1 .8 3.8 3.9 3.8 3.8 3.5 3.1 2.9 2.9 2.6 2.8 3.0 3.2 3.2 3.1 3.1 2.6 2.7 2.6 2.6 2.7 2.5 2.3 2.5 2.4 2.8 3.0 3.2 3.6 3.3 3.4 6.8 7.3 6.7 6.7 5.5 4.7 4.5 4.0 3.0 2.7 2.8 3.1 2.2 2.6 2.4 Data beginning 2001 are based on the 2002 North American Industry Classification (NAICS); data prior to 2001 are based on the Standard Industrial Classification (SIC). For details on industry classification and other details see Employment Cost Index, release dated April 28, 2006. Source: Department of Labor, Bureau of Labor Statistics. 15 VerDate Aug 31 2005 00:09 Nov 07, 2007 Jkt 038665 PO 00000 Frm 00015 Fmt 3401 Sfmt 3401 E:\HR\OC\ECOIND.015 ECOIND PRODUCTIVITY AND RELATED DATA, BUSINESS SECTOR Output per hour of all persons Period Business sector Nonfarm business sector Output 1 Business sector Hours of all persons 2 Nonfarm business sector Business sector Compensation per hour 3 Nonfarm business sector Business sector Nonfarm business sector Real compensation per hour 4 Business sector Nonfarm business sector Unit labor costs Business sector Nonfarm business sector Implicit price deflator 5 Business sector Nonfarm business sector Indexes, 1992=100; quarterly data seasonally adjusted 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2003: 2004: 2005: 2006: 2007: ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ I ................... II ................. III ............... IV ................ I ................... II ................. III ................ IV ................ I ................... II ................. III ................ IV ................ I ................... II ................. III ................ IV ................ I ................... II * ............... 106.5 109.5 112.8 116.1 119.1 123.9 128.7 132.4 135.0 136.4 125.8 127.9 130.8 130.3 131.1 132.3 132.7 133.4 134.4 134.3 135.9 135.5 136.4 136.6 136.1 136.5 136.6 137.8 106.4 109.4 112.5 115.7 118.6 123.5 128.0 131.5 134.1 135.4 125.2 126.9 130.1 129.9 130.2 131.7 132.0 132.2 133.4 133.5 135.0 134.5 135.3 135.6 135.0 135.6 135.9 136.7 122.7 128.6 135.2 140.5 141.0 143.1 147.5 153.7 159.3 164.3 144.4 146.0 149.7 150.1 151.4 153.1 154.6 155.7 157.2 158.5 160.6 161.0 163.2 164.2 164.4 165.5 165.6 167.4 122.8 128.9 135.6 140.8 141.3 143.4 147.8 153.9 159.5 164.5 144.6 146.1 150.0 150.6 151.5 153.4 154.9 155.9 157.4 158.6 160.8 161.2 163.4 164.4 164.7 165.7 165.9 167.9 115.2 117.5 119.8 121.0 118.4 115.4 114.6 116.1 118.0 120.5 114.8 114.1 114.5 115.2 115.5 115.7 116.5 116.8 117.0 118.0 118.2 118.8 119.6 120.2 120.8 121.2 121.2 121.5 115.4 117.9 120.5 121.7 119.2 116.1 115.4 117.0 118.9 121.5 115.5 115.1 115.3 115.9 116.4 116.5 117.3 117.9 118.0 118.8 119.1 119.8 120.8 121.2 122.0 122.2 122.1 122.8 113.0 119.9 125.8 134.7 140.4 145.3 151.2 156.9 163.2 169.6 148.1 150.8 152.5 153.6 153.8 155.8 157.8 160.2 161.4 161.7 164.2 165.4 168.2 168.1 168.7 173.4 175.7 178.0 112.8 119.6 125.2 134.2 139.5 144.6 150.4 155.9 162.1 168.5 147.3 149.7 151.7 152.9 152.9 154.9 156.8 158.9 160.3 160.9 163.2 164.2 167.1 167.0 167.5 172.4 174.9 176.7 100.5 105.2 108.0 112.0 113.5 115.7 117.7 118.9 119.7 120.4 115.7 117.8 118.4 118.9 118.1 118.4 119.2 120.0 120.3 119.4 119.6 119.4 120.9 119.3 118.9 122.8 123.3 123.1 100.4 104.9 107.5 111.6 112.8 115.1 117.1 118.2 118.9 119.7 115.2 116.9 117.8 118.4 117.4 117.7 118.5 119.0 119.5 118.8 118.8 118.6 120.1 118.6 118.0 122.1 122.7 122.1 106.1 109.5 111.5 116.0 117.9 117.3 117.5 118.5 120.9 124.3 117.7 117.9 116.6 117.9 117.3 117.7 118.9 120.1 120.1 120.4 120.8 122.0 123.4 123.0 124.0 127.0 128.6 129.2 106.0 109.3 111.3 116.0 117.7 117.1 117.5 118.5 120.9 124.5 117.7 118.0 116.6 117.7 117.4 117.6 118.8 120.2 120.2 120.5 120.9 122.1 123.5 123.2 124.0 127.1 128.7 129.2 109.0 109.7 110.7 112.7 114.9 116.1 117.8 120.8 124.5 128.2 117.3 117.4 118.0 118.5 119.5 120.5 121.1 122.1 123.1 123.9 125.0 126.1 127.0 128.0 128.7 128.9 130.2 131.0 109.1 109.9 111.1 113.3 115.4 116.7 118.3 121.1 125.1 128.9 117.9 118.0 118.4 118.7 119.7 120.6 121.4 122.5 123.6 124.5 125.6 126.8 127.7 128.9 129.4 129.5 130.6 131.4 1.4 3.1 1.8 4.2 1.5 ¥.5 .3 .9 2.0 2.9 2.0 1.0 ¥4.5 3.8 ¥1.0 .6 4.3 4.7 ¥.1 1.2 1.3 4.1 4.6 ¥1.0 2.9 10.3 5.2 1.4 1.5 .6 .9 1.8 2.0 1.0 1.5 2.6 3.1 2.9 1.9 .6 1.8 1.8 3.4 3.6 1.8 3.5 3.4 2.6 3.5 3.7 2.8 3.3 2.1 .8 4.1 2.5 1.7 .7 1.1 1.9 1.9 1.1 1.3 2.4 3.4 3.0 2.0 .4 1.3 1.1 3.4 3.0 2.4 3.8 3.8 2.7 3.8 3.7 3.0 3.7 1.6 .3 3.6 2.4 Percent change; quarterly data at seasonally adjusted annual rates 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2003: 2004: 2005: 2006: ccoleman on PROD1PC69 with ECOIND 2007: ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ I ................... II ................. III ............... IV ................ I ................... II ................. III ................ IV ................ I ................... II ................. III ................ IV ................ I ................... II ................. III ................ IV ................ I ................... II * ............... 1.9 2.8 3.1 2.9 2.6 4.1 3.8 2.9 2.0 1.0 3.3 6.9 9.1 ¥1.4 2.4 3.9 1.2 2.0 3.0 ¥.3 4.9 ¥1.1 2.5 .8 ¥1.5 1.2 .2 3.5 1.6 2.8 2.9 2.8 2.5 4.1 3.7 2.7 1.9 1.0 3.4 5.7 10.4 ¥.5 .9 4.7 .9 .7 3.7 .3 4.4 ¥1.4 2.5 .8 ¥1.6 1.8 .7 2.6 5.3 4.8 5.1 3.9 .3 1.5 3.1 4.2 3.6 3.1 1.1 4.6 10.4 1.1 3.7 4.4 4.0 3.0 3.7 3.3 5.5 1.0 5.5 2.5 .6 2.6 .2 4.6 5.2 5.0 5.2 3.8 .4 1.5 3.1 4.1 3.6 3.2 1.2 4.3 11.0 1.6 2.6 5.0 3.8 2.6 3.9 3.2 5.6 .9 5.7 2.4 .8 2.6 .3 5.0 3.4 2.0 2.0 1.0 ¥2.2 ¥2.5 ¥.7 1.3 1.6 2.1 ¥2.2 ¥2.2 1.2 2.5 1.2 .5 2.8 1.0 .7 3.6 .6 2.1 2.9 1.7 2.2 1.4 .0 1.0 3.5 2.1 2.2 1.0 ¥2.0 ¥2.6 ¥.6 1.4 1.6 2.2 ¥2.1 ¥1.3 .5 2.2 1.7 .3 3.0 2.0 .2 2.9 1.1 2.4 3.1 1.6 2.4 .8 ¥.3 2.3 1 Output refers to real gross domestic product originating in the sector. 2 Hours of all persons engaged in the sector, including hours of proprietors and unpaid family workers. Estimates based primarily on establishment data. 3 Wages and salaries of employees plus employers’ contributions for social insurance and private benefit plans. Also includes an estimate of wages, salaries, and supplemental payments for the self-employed. 4 Hourly compensation divided by the consumer price index for all urban consumers (CPI– U) for recent quarters. The trend from 1978–2006 is based on the consumer price index research series (CPI–U–RS). 5 Current dollar gross domestic output divided by the output index. 3.2 6.1 4.9 7.1 4.2 3.5 4.1 3.7 4.0 3.9 5.5 7.5 4.6 2.9 .6 5.2 5.3 6.3 3.0 .7 6.2 2.9 7.2 ¥.4 1.6 11.4 5.5 5.5 3.1 6.0 4.7 7.2 4.0 3.6 4.0 3.6 4.0 3.9 5.5 6.7 5.4 3.3 ¥.2 5.3 5.2 5.4 3.6 1.5 5.7 2.6 7.2 ¥.2 1.3 12.2 5.9 4.1 1.0 4.6 2.7 3.7 1.4 1.9 1.7 1.1 .6 .6 1.7 7.2 2.1 1.8 ¥2.9 1.0 3.0 2.6 1.1 ¥3.1 .7 ¥.5 5.1 ¥5.1 ¥1.6 13.8 1.6 ¥.5 0.9 4.5 2.5 3.7 1.2 2.0 1.7 .9 .7 .6 1.7 6.4 2.9 2.2 ¥3.6 1.1 2.9 1.7 1.6 ¥2.4 .2 ¥.8 5.1 ¥5.0 ¥1.8 14.6 2.0 ¥1.8 1.3 3.2 1.8 4.1 1.6 ¥.5 .2 .9 2.0 2.9 2.1 .6 ¥4.1 4.3 ¥1.8 1.3 4.1 4.2 .0 1.0 1.3 4.0 4.6 ¥1.2 3.1 10.1 5.3 1.9 NOTE.—Data relate to all persons engaged in the sector. Percent changes are from preceding period and are based on original data; they therefore may differ slightly from percent changes based on indexes shown here. * Data based on GDP data released on August 30, 2007. Source: Department of Labor, Bureau of Labor Statistics. 16 VerDate Aug 31 2005 00:09 Nov 07, 2007 Jkt 038665 PO 00000 Frm 00016 Fmt 3401 Sfmt 3401 E:\HR\OC\ECOIND.016 ECOIND PRODUCTION AND BUSINESS ACTIVITY INDUSTRIAL PRODUCTION AND CAPACITY UTILIZATION Industrial production rose and capacity utilization was unchanged in September. [Monthly data seasonally adjusted] Percent Period ccoleman on PROD1PC69 with ECOIND 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 Index, 2002=100 From preceding month Industry production indexes, 2002=100 change 2 From year earlier Capacity utilization rate (output as percent of capacity) 1 Manufacturing Total 1 Durable Nondurable Other (nonNAICS) 1 Mining Utilities Total industry Total manufacturing ....................... ....................... ....................... ....................... ....................... ....................... ....................... ....................... ....................... ....................... 89.2 94.6 99.1 103.6 100.0 100.0 101.1 103.6 106.9 111.1 .............. .............. .............. .............. .............. .............. .............. .............. .............. .............. 7.2 6.1 4.7 4.5 ¥3.5 .0 1.1 2.5 3.2 3.9 88.3 94.4 99.5 104.3 100.0 100.0 101.1 104.0 108.0 113.0 80.4 89.2 97.3 105.4 100.4 100.0 102.3 106.3 112.1 120.4 99.6 101.0 101.7 102.3 99.0 100.0 100.1 102.0 104.5 106.7 97.7 104.2 107.6 109.6 103.2 100.0 97.0 97.8 99.6 98.0 108.0 106.5 101.2 103.5 104.5 100.0 99.9 99.2 97.6 100.2 89.7 92.0 94.7 97.4 97.0 100.0 101.9 103.3 105.5 105.2 83.9 82.8 81.9 81.7 76.1 74.8 76.1 78.1 80.2 81.7 83.0 81.7 80.8 80.1 73.9 73.0 74.2 76.6 78.8 80.4 2006: Sept ............ Oct .............. Nov ............. Dec ............. 112.2 112.0 111.5 112.2 ¥0.3 ¥.2 ¥.4 .6 6.0 4.6 3.0 2.8 114.3 113.4 113.2 114.4 122.2 121.2 121.3 122.7 107.8 106.7 106.2 107.4 97.2 99.6 99.4 98.7 101.0 100.9 100.7 102.5 104.5 109.8 106.8 102.5 82.0 81.7 81.3 81.6 80.9 80.1 79.8 80.5 2007: Jan ............. Feb ............. Mar ............. Apr .............. May ............. June r ........... July r ........... Aug r ............ Sept p ........... 111.7 112.5 112.4 113.1 113.0 113.5 114.2 114.3 114.4 ¥.5 .8 ¥.1 .6 ¥.1 .5 .6 .0 .1 2.4 2.9 2.2 1.9 1.9 1.5 1.7 1.6 1.9 113.7 113.6 114.4 114.8 114.9 115.7 116.6 116.1 116.2 121.2 121.3 122.3 123.2 123.4 124.7 126.1 125.6 125.5 107.5 107.2 107.8 107.7 107.8 107.9 108.5 108.1 108.2 98.4 98.6 99.1 99.5 99.0 99.4 99.1 98.3 99.2 100.2 100.0 100.2 100.2 99.9 100.4 101.4 100.8 101.0 105.1 114.1 106.6 109.7 108.0 107.3 106.4 111.3 111.3 81.1 81.6 81.4 81.7 81.5 81.8 82.2 82.1 82.1 79.8 79.6 80.0 80.2 80.1 80.5 81.0 80.5 80.4 1 Total industry and total manufacturing series include manufacturing as defined in the North American Industry Classification System (NAICS) plus those industries—logging and newspaper, periodical, book and directory-publishing—that have traditionally been included in manufacturing. 2 Percent changes based on unrounded indexes. NOTE.—Data based on the North American Industry Classification System (NAICS) except series as defined in footnote 1. Source: Board of Governors of the Federal Reserve System. 17 VerDate Aug 31 2005 00:09 Nov 07, 2007 Jkt 038665 PO 00000 Frm 00017 Fmt 3401 Sfmt 3401 E:\HR\OC\ECOIND.017 ECOIND G:\graphics\eecoind.017 Total industrial production 1 INDUSTRIAL PRODUCTION—MAJOR MARKET GROUPS AND SELECTED MANUFACTURES [2002=100; monthly data seasonally adjusted] Products and nonindustrial supplies Materials Final products Nonindustrial supplies Consumer goods Equipment Durable goods Business equipment Period Total Total 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 ............................................................ ............................................................ ............................................................ ............................................................ ............................................................ ............................................................ ............................................................ ............................................................ ............................................................ ............................................................ Nondurable goods Total 1 Defense and space equipment Total Construction supplies Business supplies Total 1 Energy 91.6 97.0 99.7 102.9 100.8 100.0 101.2 103.3 107.6 111.5 92.1 95.5 97.3 99.3 98.1 100.0 101.3 102.8 105.7 106.9 84.0 89.9 96.1 99.2 94.9 100.0 103.4 104.8 105.9 105.6 95.7 97.8 97.8 99.3 99.4 100.0 100.5 102.0 105.5 107.2 91.9 101.4 106.0 111.6 107.3 100.0 100.9 104.7 112.7 124.1 89.7 100.3 106.5 114.6 107.6 100.0 100.2 104.5 112.8 125.9 100.9 105.1 102.7 92.1 100.6 100.0 103.8 104.0 109.7 112.0 91.1 96.4 100.3 104.5 100.1 100.0 101.0 103.2 107.0 110.3 95.1 100.2 102.8 105.1 100.5 100.0 99.8 101.8 106.7 110.4 89.6 95.0 99.4 104.2 100.0 100.0 101.5 103.7 107.1 110.3 86.2 91.7 98.0 104.0 99.1 100.0 100.9 104.0 106.2 111.0 99.4 99.8 99.6 101.0 100.0 100.0 99.9 99.7 98.4 99.8 ................................................. .................................................. .................................................. .................................................. 112.7 112.4 112.8 113.6 107.6 107.3 107.6 107.8 105.4 102.8 104.4 106.2 108.2 108.7 108.5 108.2 126.6 126.3 126.9 129.2 128.5 128.4 129.5 132.1 113.6 113.3 112.0 112.5 110.7 110.9 109.6 110.1 110.3 108.4 107.4 109.7 110.8 111.9 110.5 110.3 112.2 112.0 111.0 111.7 100.0 101.3 100.6 100.2 2007: Jan .................................................. Feb .................................................. Mar .................................................. Apr .................................................. May ................................................. June r ............................................... July r ................................................ Aug r ................................................ Sept p ............................................... 112.7 114.2 113.7 114.3 114.0 114.7 115.4 115.2 115.1 107.4 109.4 108.6 109.2 108.8 109.2 109.8 109.8 109.4 103.1 104.6 105.2 107.1 106.7 108.7 109.4 108.0 106.5 108.7 110.9 109.6 109.8 109.4 109.3 109.8 110.2 110.2 126.9 127.1 127.7 128.0 128.1 129.4 130.7 130.1 130.6 128.8 129.2 130.6 130.9 131.1 132.2 133.9 133.2 133.8 113.9 113.0 109.8 111.1 111.0 112.9 113.0 112.9 113.3 110.0 110.2 110.3 110.9 110.8 111.2 111.2 111.7 111.8 108.4 106.8 107.9 108.3 109.1 110.2 109.9 109.7 109.5 110.6 111.5 111.2 111.9 111.5 111.7 111.7 112.4 112.8 111.3 111.8 112.0 112.7 112.7 113.2 114.2 114.3 114.6 100.5 101.9 100.5 101.1 100.9 101.2 101.7 102.9 103.3 2006: Sept Oct Nov Dec 1 Includes other items, not shown separately. [2002=100; monthly data seasonally adjusted] Durable manufactures Primary metal Period Total 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 ............................................................ ............................................................ ............................................................ ............................................................ ............................................................ ............................................................ ............................................................ ............................................................ ............................................................ ............................................................ Iron and steel products Fabricated metal products Machinery Total Selected hightechnology 1 Transportation equipment Total Motor vehicles and parts Apparel Printing and support Chemical Food 112.4 114.3 114.0 110.3 99.8 100.0 98.9 109.3 107.1 112.1 111.4 111.2 112.0 110.9 100.3 100.0 100.8 116.4 109.9 117.0 102.9 106.3 107.0 111.2 103.1 100.0 98.9 99.1 103.3 108.9 111.7 114.5 112.0 117.7 104.1 100.0 99.6 103.7 110.0 117.1 43.0 56.2 75.5 101.8 103.5 100.0 111.5 126.2 141.0 169.1 32.0 45.6 67.7 98.8 101.5 100.0 116.7 132.6 156.6 198.1 91.0 99.0 104.4 99.5 95.7 100.0 101.1 100.8 104.1 109.4 85.8 90.2 100.1 99.5 90.6 100.0 103.5 103.8 103.7 101.9 172.2 162.9 156.1 148.5 127.2 100.0 92.3 79.5 76.8 77.8 110.2 111.5 112.4 113.1 106.3 100.0 96.3 97.0 98.9 103.3 90.2 91.7 93.6 95.0 93.3 100.0 101.4 105.7 108.0 110.3 91.0 95.0 96.0 97.7 97.7 100.0 101.0 101.1 104.5 107.7 ................................................. .................................................. .................................................. .................................................. 112.8 109.2 103.8 102.7 119.8 112.3 103.9 99.5 110.5 110.5 109.7 109.8 120.6 118.1 117.6 122.6 177.2 179.3 180.0 181.7 210.7 214.4 216.2 218.6 109.8 107.8 110.5 111.9 100.9 97.3 100.7 102.4 77.5 78.4 77.5 77.4 103.1 104.1 104.3 106.3 111.7 110.1 108.8 110.5 108.5 109.4 110.0 109.8 2007: Jan .................................................. Feb .................................................. Mar ................................................. Apr .................................................. May ................................................. June r ............................................... July r ................................................ Aug r ................................................ Sept p ............................................... 107.1 107.6 108.8 111.3 112.1 110.6 112.9 112.1 112.8 107.6 109.2 111.1 113.8 116.9 115.8 117.8 118.1 119.0 109.3 109.8 110.6 111.1 110.8 112.1 112.5 112.8 113.4 116.4 115.3 118.0 117.2 117.6 117.5 120.2 118.3 118.5 181.3 181.5 182.3 184.2 184.4 187.7 191.7 192.7 193.4 219.9 220.4 223.2 226.4 228.5 234.4 242.6 245.0 246.0 108.9 110.5 110.6 111.8 111.5 114.0 114.8 114.1 112.4 96.4 98.7 99.4 100.8 100.3 102.8 103.6 102.0 98.6 78.8 77.8 76.7 77.9 77.7 76.9 77.1 75.4 75.3 105.6 106.0 105.6 104.7 103.1 102.1 101.7 102.7 103.4 109.9 110.1 110.4 110.5 110.6 110.8 111.8 112.1 113.2 110.0 110.8 111.7 112.5 111.8 112.6 113.6 112.4 112.4 2006: Sept Oct Nov Dec 1 Computers and office equipment, communications equipment, and semiconductors and related electronic components. ccoleman on PROD1PC69 with ECOIND Nondurable manufactures Computer and electronic products Source: Board of Governors of the Federal Reserve System. 18 VerDate Aug 31 2005 00:09 Nov 07, 2007 Jkt 038665 PO 00000 Frm 00018 Fmt 3401 Sfmt 3401 E:\HR\OC\ECOIND.018 ECOIND NEW CONSTRUCTION [Billions of dollars; monthly data at seasonally adjusted annual rates] Private Period 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2006: .................................... .................................... .................................... .................................... .................................... .................................... .................................... .................................... .................................... .................................... Sept ........................ Oct ........................... Nov .......................... Dec .......................... 2007: Jan .......................... Feb .......................... Mar .......................... Apr .......................... May ......................... June ........................ July r ........................ Aug r ......................... Sept p ........................ Total new construction expenditures Residential Total New housing Total 1 656.2 706.8 768.8 831.1 864.2 873.1 921.4 1,023.5 1,132.1 1,192.2 1,172.1 1,164.9 1,166.3 1,167.3 1,160.2 1,162.2 1,163.6 1,166.2 1,172.1 1,170.5 1,161.1 1,159.2 1,162.8 502.7 552.0 599.7 649.8 662.2 659.7 705.3 803.3 898.0 937.0 919.0 907.3 904.5 896.6 884.4 889.7 886.8 888.0 888.1 885.0 874.4 871.0 869.0 289.0 314.6 350.6 374.5 388.3 421.9 475.9 564.8 641.3 641.3 614.4 601.3 590.0 580.7 567.5 562.9 555.6 551.7 544.8 538.7 528.0 518.6 511.4 Federal and State and local Nonresidential Total 198.1 224.0 251.3 265.0 279.4 298.8 345.7 417.5 480.8 469.0 444.3 430.0 418.7 411.1 398.1 386.1 383.5 378.0 370.6 364.7 357.3 347.6 336.7 213.7 237.4 249.2 275.3 273.9 237.7 229.3 238.5 256.6 295.7 304.6 306.0 314.5 315.9 316.9 326.7 331.2 336.3 343.3 346.3 346.4 352.4 357.7 1 Includes residential improvements, not shown separately. 2 Includes health care, educational, communication, and power, among other categories not shown separately. Lodging 12.9 14.8 16.0 16.3 14.5 10.5 9.9 12.0 12.7 17.7 18.8 20.2 21.0 20.5 20.6 22.0 25.0 26.2 28.1 28.5 29.9 30.9 32.6 Commercial (including farm) Office 32.8 40.4 45.1 52.4 49.7 35.3 30.6 32.9 37.3 46.2 48.8 48.7 50.4 51.5 54.5 53.5 52.8 52.8 52.7 54.3 53.4 55.5 56.7 Manufacturing 53.1 55.7 59.4 64.1 63.6 59.0 57.5 63.2 66.6 72.1 74.3 73.0 75.9 76.8 78.6 79.9 80.2 82.3 82.3 82.4 82.1 81.6 82.0 Other 2 37.6 40.5 35.1 37.6 37.8 22.7 21.4 23.7 29.9 34.3 35.9 34.2 35.1 35.2 34.3 35.7 35.0 36.5 37.4 36.4 36.2 36.0 36.8 77.3 86.0 93.7 104.9 108.2 110.2 109.9 106.8 110.2 125.4 126.8 129.8 132.1 132.0 128.8 135.6 138.1 138.5 142.8 144.7 144.8 148.4 149.5 153.4 154.8 169.1 181.3 201.9 213.4 216.1 220.2 234.2 255.2 253.1 257.6 261.9 270.6 275.9 272.5 276.8 278.1 284.1 285.5 286.7 288.2 293.8 Source: Department of Commerce, Bureau of the Census. NEW PRIVATE HOUSING AND VACANCY RATES [Thousands of units or houses, except as noted] New private housing units Units started, by type of structure Period Total 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 ...................................... ...................................... ...................................... ...................................... ...................................... ...................................... ...................................... ...................................... ...................................... ...................................... New private houses 1,474.0 1,616.9 1,640.9 1,568.7 1,602.7 1,704.9 1,847.7 1,955.8 2,068.3 1,800.9 2–4 units 1 1 unit 1,133.7 1,271.4 1,302.4 1,230.9 1,273.3 1,358.6 1,499.0 1,610.5 1,715.8 1,465.4 5 units or more 44.5 42.6 31.9 38.7 36.6 38.5 33.5 42.3 41.1 42.7 295.8 302.9 306.6 299.1 292.8 307.9 315.2 303.0 311.4 292.8 Units authorized 1,441.1 1,612.3 1,663.5 1,592.3 1,636.7 1,747.7 1,889.2 4 2,070.1 2,155.3 1,838.9 Units completed Houses sold Houses for sale at end of period 2 Vacancy rate for rental housing units (percent) 3 1,400.5 1,474.2 1,604.9 1,573.7 1,570.8 1,648.4 1,678.7 1,841.9 1,931.4 1,979.4 804 886 880 877 908 973 1,086 1,203 1,283 1,051 281 294 308 298 308 339 370 422 511 535 7.7 7.9 8.1 8.0 8.4 8.9 9.8 10.2 9.8 9.7 Seasonally adjusted annual rates 2006: Sept ........................... Oct ............................. Nov ............................ Dec ............................ 1,721 1,470 1,565 1,629 1,391 1,181 1,273 1,241 29 38 20 49 301 251 272 339 1,654 1,560 1,527 1,628 2,019 1,919 1,885 1,887 1,004 952 987 1,019 560 553 542 535 9.9 ...................... ...................... 9.8 2007: Jan ............................ Feb ............................ Mar ............................ Apr ............................ May ........................... June .......................... July r .......................... Aug r ........................... Sept p ......................... 1,403 1,487 1,491 1,485 1,440 1,468 1,371 1,327 1,191 1,123 1,188 1,205 1,195 1,155 1,147 1,058 980 963 23 30 36 36 33 38 39 33 27 257 269 250 254 252 283 274 314 201 1,566 1,541 1,569 1,457 1,520 1,413 1,389 1,322 1,261 1,830 1,628 1,610 1,523 1,554 1,496 1,520 1,516 1,391 890 840 830 907 861 r 797 798 735 770 536 544 548 547 543 r 541 537 531 523 ...................... ...................... 10.1 ...................... ...................... 9.5 ...................... ...................... 9.8 1 Derived; seasonally adjusted monthly data for 2–4 units are no longer published. adjusted. series. Quarterly data entered in last month of quarter. 4 Based on 20,000 permit-issuing places. Based on 19,000 places, the total for 2004 is 2,052.1 thousand units. 2 Seasonally ccoleman on PROD1PC69 with ECOIND 3 Revised NOTE.—Beginning 2004, units authorized are for 20,000 permit-issuing places. For other data shown, units authorized are for 19,000 places. Beginning 1999, housing starts, completions, and sales are not directly comparable with earlier data due to new estimation methods. Source: Department of Commerce, Bureau of the Census. 19 VerDate Aug 31 2005 00:09 Nov 07, 2007 Jkt 038665 PO 00000 Frm 00019 Fmt 3401 Sfmt 3401 E:\HR\OC\ECOIND.019 ECOIND BUSINESS SALES AND INVENTORIES—Manufacturing and Trade In August, according to preliminary estimates, manufacturing and trade sales fell 0.4 percent and inventories rose $2.2 billion. According to advance estimates, retail sales rose 0.6 percent in September. Retail and food services sales also rose 0.6 percent. [Millions of dollars, except ratios; seasonally adjusted, except as noted] Manufacturing and trade 1 Sales 2 Inventories 3 Inventorysales ratio 4 Sales 2 ccoleman on PROD1PC69 with ECOIND 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2006: Inventories 3 Retail Inventory sales ratio 4 .............................................................. 723,879 1,046,786 1.42 198,154 258,570 1.26 .............................................................. 742,837 1,078,644 1.43 202,260 272,315 1.31 .............................................................. 786,634 1,138,209 1.40 216,597 289,564 1.29 .............................................................. 834,325 1,196,628 1.41 234,546 307,962 1.28 .............................................................. 818,615 1,118,784 1.42 232,096 295,658 1.31 .............................................................. 823,714 1,138,707 1.36 236,294 298,808 1.25 .............................................................. 853,596 1,144,702 1.34 246,857 303,343 1.22 .............................................................. 923,319 1,235,243 1.30 274,710 332,815 1.16 .............................................................. 1,001,154 1,312,163 1.27 298,753 357,537 1.16 .............................................................. 1,066,358 1,388,979 1.28 329,336 388,168 1.14 Aug r ................................................... 1,086,214 1,379,015 1.27 337,920 382,098 1.13 Sept r .................................................. 1,063,769 1,384,505 1.30 333,762 384,500 1.15 Oct ..................................................... 1,060,357 1,386,151 1.31 331,297 385,808 1.16 Nov .................................................... 1,064,393 1,388,457 1.30 334,268 389,165 1.16 Dec .................................................... 1,080,663 1,388,979 1.29 339,937 388,168 1.14 2007: Jan .................................................... 1,070,438 1,391,893 1.30 336,713 390,424 1.16 Feb .................................................... 1,073,927 1,394,706 1.30 340,134 392,073 1.15 Mar .................................................... 1,092,727 1,394,265 1.28 347,383 393,461 1.13 Apr .................................................... 1,100,915 1,399,463 1.27 352,678 394,796 1.12 May .................................................... 1,114,765 1,406,612 1.26 357,352 396,604 1.11 June ................................................... 1,111,071 1,412,022 1.27 358,788 397,866 1.11 July r .................................................. 1,123,373 1,418,684 1.26 359,529 398,721 1.11 Aug p .................................................. 1,118,815 1,420,859 1.27 360,919 399,016 1.11 Sept p .................................................. .................. .................. ................ ................ ................ ................ 1 See page 21 for manufacturing. data are averages of monthly not seasonally adjusted figures; monthly data are seasonally adjusted totals for month. 3 Seasonally adjusted, end of period. 2 Annual Sales 2 00:09 Nov 07, 2007 Jkt 038665 PO 00000 Frm 00020 Fmt 3401 Inventory sales ratio 4 206,167 344,594 1.64 215,592 357,246 1.62 234,046 385,082 1.59 249,063 407,033 1.59 255,644 395,018 1.58 261,194 416,817 1.56 272,123 433,133 1.56 289,528 462,607 1.56 307,786 475,520 1.51 325,359 490,909 1.49 328,469 492,369 1.50 326,064 491,936 1.51 325,822 491,357 1.51 327,090 489,619 1.50 330,220 490,909 1.49 330,598 491,590 1.49 332,929 492,452 1.48 336,007 489,706 1.46 334,693 491,365 1.47 340,409 494,646 1.45 337,273 497,649 1.48 339,152 502,860 1.48 r340,263 505,216 1.48 342,466 ................ ................ Retail and food services sales 2 227,670 238,278 257,797 274,518 282,131 288,845 301,264 320,526 340,669 360,871 364,172 362,103 361,980 363,234 367,341 367,230 369,287 372,851 371,651 377,689 374,740 376,906 r378,028 380,230 4 Annual data are averages of seasonally adjusted monthly ratios. Source: Department of Commerce, Bureau of the Census. 20 VerDate Aug 31 2005 Inventories 3 Sfmt 3401 E:\HR\OC\ECOIND.020 ECOIND G:\graphics\eecoind.020 Period Wholesale MANUFACTURERS’ SHIPMENTS, INVENTORIES, AND ORDERS In September, manufacturers’ shipments fell, while inventories, new and unfilled orders rose. Manufacturers’ shipments 1 Manufacturers’ inventories 2 Manufacturers’ new orders 1 Durable goods Period Total Durable goods Nondurable goods Durable goods Total Nondurable goods Total Total Capital goods industries, nondefense Manufacturers’ unfilled orders 2 Manufacturers’ inventory— shipments ratio 3 Millions of dollars, seasonally adjusted, except as noted .................................................... .................................................... .................................................... .................................................... .................................................... .................................................... .................................................... .................................................... .................................................... .................................................... 319,558 324,984 335,991 350,715 330,875 326,227 334,616 359,081 394,615 411,663 178,949 185,966 193,895 197,807 181,201 176,968 178,549 188,722 201,695 211,492 140,610 139,019 142,096 152,908 149,674 149,259 156,067 170,359 192,920 200,170 443,622 449,083 463,563 481,633 428,108 423,082 408,226 439,821 479,106 509,902 281,108 290,715 296,508 306,743 267,902 260,661 247,061 266,264 286,775 309,481 162,514 158,368 167,055 174,890 160,206 162,421 161,165 173,557 192,331 200,421 314,986 317,345 329,770 346,789 322,708 316,811 330,369 354,599 394,580 414,562 174,377 178,327 187,674 193,881 173,033 167,553 174,302 184,240 201,660 214,391 60,697 62,133 64,392 69,278 58,204 51,817 52,891 56,079 65,625 72,429 512,849 496,092 505,589 549,513 513,802 461,585 477,029 495,630 570,020 684,047 1.37 1.38 1.35 1.35 1.38 1.29 1.24 1.18 1.17 1.21 2006: Sept .......................................... Oct ........................................... Nov .......................................... Dec ........................................... 403,943 403,238 403,035 410,506 209,152 210,388 209,525 212,817 194,791 192,850 193,510 197,689 508,069 508,986 509,673 509,902 305,166 307,882 308,436 309,481 202,903 201,104 201,237 200,421 424,396 403,244 408,606 416,103 229,605 210,394 215,096 218,414 83,984 73,092 72,503 77,700 653,370 661,059 673,215 684,047 1.26 1.26 1.26 1.24 2007: Jan ........................................... Feb ........................................... Mar .......................................... Apr ........................................... May .......................................... June ......................................... July .......................................... Aug r ......................................... Sept p ........................................ 403,127 400,864 409,337 413,544 417,004 415,010 424,692 417,633 417,449 209,687 206,521 209,287 213,525 213,967 211,616 220,095 215,919 211,466 193,440 194,343 200,050 200,019 203,037 203,394 204,597 201,714 205,983 509,879 510,181 511,098 513,302 515,362 516,507 517,103 516,627 519,472 310,784 311,110 311,315 312,426 312,653 312,622 312,895 312,577 313,826 199,095 199,071 199,783 200,876 202,709 203,885 204,208 204,050 205,646 398,496 400,493 416,759 418,997 416,866 420,992 435,099 420,076 420,727 205,056 206,150 216,709 218,978 213,829 217,598 230,502 218,362 214,744 64,912 68,845 78,375 78,128 72,788 77,389 81,119 71,417 74,691 687,768 693,326 706,081 719,366 725,644 737,085 754,340 763,051 771,577 1.26 1.27 1.25 1.24 1.24 1.24 1.22 1.24 1.24 1 Annual data are averages of monthly not seasonally adjusted figures; monthly data are seasonally adjusted totals for month. Shipments are the same as sales. 2 Seasonally adjusted, end of period. 3 Annual data are averages of seasonally adjusted monthly ratios. NOTE.—Manufacturers’ nondurable new orders (not shown) are the same as nondurable shipments. Also, there are no unfilled nondurable orders; data shown for total unfilled orders are durable unfilled orders. Total and durable shipments and inventories include data on semiconductors; new and unfilled orders do not. Source: Department of Commerce, Bureau of the Census. 21 VerDate Aug 31 2005 00:09 Nov 07, 2007 Jkt 038665 PO 00000 Frm 00021 Fmt 3401 Sfmt 3401 E:\HR\OC\ECOIND.021 ECOIND g:\graphics\eecoind.021 ccoleman on PROD1PC69 with ECOIND 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 PRICES PRODUCER PRICES The producer price index for all finished goods rose 1.1 percent in September. Prices of finished consumer foods rose 1.5 percent, while prices of other finished consumer goods rose 1.6 percent. Capital equipment prices fell 0.1 percent. [1982=100; monthly data seasonally adjusted] Finished goods Total finished goods Finished goods excluding consumer foods Consumer foods Consumer goods Total ccoleman on PROD1PC69 with ECOIND Total 1997 ........................... 1998 ........................... 1999 .......................... 2000 ........................... 2001 ........................... 2002 .......................... 2003 .......................... 2004 .......................... 2005 .......................... 2006 .......................... 2006: Sept ............... Oct ................. Nov ................ Dec ................ 2007: Jan ................ Feb ................ Mar ................ Apr ................ May r .............. June .............. July ............... Aug ................ Sept ............... 1 Intermediate 131.8 130.7 133.0 138.0 140.7 138.9 143.3 148.5 155.7 160.4 160.2 157.8 160.3 161.5 160.6 162.6 164.2 165.6 166.7 166.6 167.6 165.3 167.2 134.5 134.3 135.1 137.2 141.3 140.1 145.9 152.7 155.7 156.7 158.6 157.9 158.0 159.8 161.4 164.2 166.8 167.7 166.7 165.9 165.8 165.4 167.8 130.9 129.5 132.3 138.1 140.4 138.3 142.4 147.2 155.5 161.0 160.4 157.5 160.7 161.7 160.1 161.8 163.3 164.7 166.5 166.5 167.8 164.9 166.8 128.2 126.4 130.5 138.4 141.4 138.8 144.7 150.9 161.9 169.2 167.9 163.9 167.9 169.5 167.0 169.3 171.5 173.6 176.2 176.1 177.8 173.6 176.4 Durable Nondurable 133.7 132.9 133.0 133.9 134.0 133.0 133.1 135.0 136.6 136.9 137.2 135.5 138.0 137.8 137.6 137.9 137.8 137.6 137.7 138.5 138.9 138.9 138.4 materials for food manufacturing and feeds. 124.3 122.2 127.9 138.7 142.8 139.8 148.4 156.6 172.0 182.6 180.6 175.5 180.2 182.6 179.0 182.3 185.8 189.0 192.9 192.3 194.7 188.7 192.9 Capital equipment 138.2 137.6 137.6 138.8 139.7 139.1 139.5 141.4 144.6 146.9 147.4 146.9 148.3 148.3 148.5 149.0 148.9 149.1 149.2 149.7 149.8 149.9 149.8 130.2 128.9 132.0 138.2 141.5 139.4 145.3 151.7 160.4 166.0 165.6 162.5 165.4 167.1 165.7 168.2 170.5 172.3 173.8 173.5 174.7 171.6 174.2 Intermediate materials Crude materials Total Foods and feeds 1 Other Total Foodstuffs and feedstuffs Other 125.6 123.0 123.2 129.2 129.7 127.8 133.7 142.6 154.0 164.0 164.6 162.6 163.6 165.0 163.9 165.2 167.2 168.8 170.8 171.5 172.6 170.5 171.2 125.4 116.2 111.1 111.7 115.9 115.5 125.9 137.1 133.8 135.2 135.0 135.6 138.9 140.6 143.1 147.4 150.0 151.4 151.4 154.2 155.4 155.9 158.1 125.7 123.4 123.9 130.1 130.5 128.5 134.2 143.0 155.1 165.4 166.1 164.0 164.8 166.2 165.0 166.1 168.1 169.7 171.8 172.4 173.4 171.3 171.9 111.1 96.8 98.2 120.6 121.0 108.1 135.3 159.0 182.2 184.8 183.9 166.9 186.5 191.3 180.8 197.1 202.3 204.5 207.1 208.3 210.9 204.5 204.8 112.2 103.9 98.7 100.2 106.1 99.5 113.5 127.0 122.7 119.3 120.8 124.1 127.2 127.1 130.2 139.8 143.1 145.2 146.7 147.1 150.2 147.9 151.4 106.4 88.4 94.3 130.4 126.8 111.4 148.2 179.2 223.4 230.6 227.8 195.1 227.1 235.7 212.9 234.3 240.9 243.0 246.4 248.2 250.1 240.7 238.2 Source: Department of Labor, Bureau of Labor Statistics. 22 VerDate Aug 31 2005 00:09 Nov 07, 2007 Jkt 038665 PO 00000 Frm 00022 Fmt 3401 Sfmt 3401 E:\HR\OC\ECOIND.022 ECOIND G:\graphics\eecoind.022 Period Total finished consumer goods CONSUMER PRICES—ALL URBAN CONSUMERS In September, the consumer price index for all urban consumers rose 0.3 percent seasonally adjusted; it rose 0.3 percent not seasonally adjusted. The index was 2.8 percent above its year-earlier level. [1982–84=100, except as noted; monthly data seasonally adjusted, except as noted] Housing Transportation Shelter ccoleman on PROD1PC69 with ECOIND Period Not seasonally adjusted (NSA) Seasonally adjusted Food Total 1 Total 1 Rent of primary residence Owners’ equivalent rent (12/82= 100) Fuels and utilities Apparel Total 1 Motor fuel Medical care Energy 2 All items less food and energy Rel. imp.3 ............... 1997 ....................... 1998 ....................... 1999 ....................... 2000 ....................... 2001 ....................... 2002 ....................... 2003 ....................... 2004 ....................... 2005 ....................... 2006 ....................... 100.0 160.5 163.0 166.6 172.2 177.1 179.9 184.0 188.9 195.3 201.6 .............. .............. .............. .............. .............. .............. .............. .............. .............. .............. .............. 13.9 157.3 160.7 164.1 167.8 173.1 176.2 180.0 186.2 190.7 195.2 42.7 156.8 160.4 163.9 169.6 176.4 180.3 184.8 189.5 195.7 203.2 32.8 176.3 182.1 187.3 193.4 200.6 208.1 213.1 218.8 224.4 232.1 5.9 166.7 172.1 177.5 183.9 192.1 199.7 205.5 211.0 217.3 225.1 23.8 181.9 187.8 192.9 198.7 206.3 214.7 219.9 224.9 230.2 238.2 5.3 130.8 128.5 128.8 137.9 150.2 143.6 154.5 161.9 179.0 194.7 3.7 132.9 133.0 131.3 129.6 127.3 124.0 120.9 120.4 119.5 119.5 17.2 144.3 141.6 144.4 153.3 154.3 152.9 157.6 163.1 173.9 180.9 4.3 106.2 92.2 100.7 129.3 124.7 116.6 135.8 160.4 195.7 221.0 6.3 234.6 242.1 250.6 260.8 272.8 285.6 297.1 310.1 323.2 336.2 8.7 111.5 102.9 106.6 124.6 129.3 121.7 136.5 151.4 177.1 196.9 77.4 169.5 173.4 177.0 181.3 186.1 190.5 193.2 196.6 200.9 205.9 2006: Sept ........... Oct ............. Nov ............ Dec ............ 202.9 201.8 201.5 201.8 202.7 201.8 201.9 202.8 196.5 197.0 196.8 196.8 204.6 204.6 205.5 206.3 234.2 234.9 235.9 236.6 227.1 228.0 228.8 229.8 240.4 241.2 242.1 242.8 194.8 190.9 192.9 195.3 120.3 119.7 119.6 119.8 181.0 175.5 174.1 177.0 219.5 196.2 193.0 206.5 338.9 339.9 340.7 341.3 196.0 182.9 182.5 190.1 207.3 207.6 207.8 208.1 2007: Jan ............ Feb ............ Mar ............ Apr ............ May ............ June ........... July ............ Aug ............. Sept ............ 202.416 203.499 205.352 206.686 207.949 208.352 208.299 207.917 208.490 203.153 203.906 205.146 205.999 207.387 207.784 208.028 207.738 208.292 198.173 199.728 200.281 201.111 201.794 202.773 203.311 204.143 205.193 206.799 207.616 208.072 208.547 208.912 209.617 209.959 209.933 210.470 237.350 238.043 238.176 238.981 239.550 240.547 241.112 241.475 242.293 230.670 231.642 232.437 233.001 233.654 234.254 234.903 235.349 236.058 243.279 243.988 244.646 245.079 245.277 245.778 246.191 246.761 247.445 195.818 198.215 200.689 200.647 200.602 200.780 200.791 199.053 199.338 120.180 120.805 119.541 119.165 118.772 118.065 118.585 117.936 118.232 175.661 175.749 180.584 182.835 187.879 187.592 187.002 184.702 184.899 200.234 200.921 222.136 232.663 256.776 254.122 249.813 237.534 238.498 344.046 345.686 345.994 347.316 348.467 349.272 351.450 353.209 354.396 187.340 188.952 200.164 204.969 216.073 214.911 212.732 205.920 206.496 208.632 209.135 209.263 209.634 209.948 210.436 210.933 211.250 211.714 1 Includes items not shown separately. fuels—gas (piped), electricity, fuel oil, etc.—and motor fuel. Motor oil, coolant, etc. excluded beginning 1983. 2 Household 3 Relative importance, December 2006. Source: Department of Labor, Bureau of Labor Statistics. 23 VerDate Aug 31 2005 00:09 Nov 07, 2007 Jkt 038665 PO 00000 Frm 00023 Fmt 3401 Sfmt 3401 E:\HR\OC\ECOIND.023 ECOIND g:\graphics\eecoind.023 All items 1 CHANGES IN PRODUCER PRICES FOR FINISHED GOODS [Percent change from preceding period; monthly data seasonally adjusted, except as noted by NSA] Period Change from preceding period Change from 3 months earlier, annual rate Consumer goods Consumer goods Total finished goods Foods Capital equipment Excluding foods Change from 6 months earlier, annual rate Change from year earlier, total finished goods NSA Consumer goods Total finished goods Foods Excluding foods Capital equipment Total finished goods Foods Excluding foods Capital equipment ¥0.6 0 .3 1.2 0 ¥.6 .8 2.4 1.2 2.3 ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ .................. .................. .................. .................. .................. .................. .................. .................. .................. .................. Change, Dec. to Dec., NSA 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 ¥1.2 0 2.9 3.6 ¥1.6 1.2 4.0 4.2 5.4 1.1 ............... ............... ............... ............... ............... ............... ............... ............... ............... ............... ¥0.8 .1 .8 1.7 1.8 ¥.6 7.7 3.1 1.7 1.7 ¥1.5 ¥.1 5.1 5.5 ¥3.9 2.9 4.1 5.5 8.8 .4 0.4 ¥.8 1.8 3.8 2.0 ¥1.3 3.2 3.6 4.8 3.0 Change, month to month 2006: Sept .... Oct ...... Nov ..... Dec ..... ¥1.1 ¥1.5 1.6 .7 0.4 ¥.4 .1 1.1 ¥2.1 ¥2.4 2.4 1.0 0.3 ¥.3 1.0 0 ¥3.2 ¥8.4 ¥3.9 3.3 6.8 4.7 .3 3.1 ¥8.3 ¥16.8 ¥8.1 3.9 1.1 1.4 3.6 2.5 1.1 ¥3.2 ¥.5 0 5.0 3.1 5.0 4.9 ¥0.5 ¥6.9 ¥3.4 ¥2.4 1.6 .5 2.1 1.8 0.9 ¥1.2 .9 1.1 2007: Jan ...... Feb ..... Mar ..... Apr ..... May r ... June .... July ..... Aug ..... Sept ..... ¥.6 1.2 1.0 .9 .7 r ¥.1 .6 ¥1.4 1.1 1.0 1.7 1.6 .5 ¥.6 r ¥.5 ¥.1 ¥.2 1.5 ¥1.5 1.4 1.3 1.2 1.5 r ¥.1 1.0 ¥2.4 1.6 .1 .3 ¥.1 .1 .1 .3 .1 .1 ¥.1 7.3 5.9 6.9 13.0 10.5 6.0 4.9 r ¥3.3 1.4 9.2 16.6 18.7 16.6 6.2 ¥2.1 ¥4.5 r ¥3.1 4.7 7.8 3.4 4.8 16.8 17.3 11.2 10.0 r ¥5.8 .7 4.4 1.9 1.6 1.6 .5 2.2 1.9 r 1.9 .3 ¥.9 .9 5.1 10.1 8.1 6.4 8.9 3.3 3.7 6.9 8.1 10.6 12.8 11.3 7.8 5.5 1.5 1.2 ¥5.3 ¥2.5 4.3 12.2 10.1 7.9 13.4 5.1 5.8 2.9 2.7 2.0 3.0 1.2 1.9 1.8 1.2 1.2 .1 2.4 3.1 3.2 3.9 3.3 4.0 2.2 4.4 Source: Department of Labor, Bureau of Labor Statistics. CHANGES IN CONSUMER PRICES—ALL URBAN CONSUMERS [Percent change from preceding period; monthly data seasonally adjusted, except as noted by NSA] Housing Transportation Shelter Period All items 1 Food Total 1 Total 1 Rent of Ownpriers’ mary equivaresilent dence rent Fuels and utilities Apparel Total 1 New cars Motor fuel Medical care Energy 2 All items less food and energy Addendum: All items, percent change (annual rate) From previous quarter 3 From From 3 6 months months earlier earlier From year earlier NSA Change, December to December, NSA 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... 1.7 1.6 2.7 3.4 1.6 2.4 1.9 3.3 3.4 2.5 1.5 2.3 1.9 2.8 2.8 1.5 3.6 2.7 2.3 2.1 2.4 2.3 2.2 4.3 2.9 2.4 2.2 3.0 4.0 3.3 3.4 3.3 2.5 3.4 4.2 3.1 2.2 2.7 2.6 4.2 3.1 3.4 3.1 4.0 4.7 3.1 2.7 2.9 3.1 4.3 3.1 3.2 2.4 3.4 4.5 3.3 2.0 2.3 2.5 4.3 0.5 ¥2.6 2.4 12.1 ¥2.1 1.4 6.5 7.9 15.6 .5 1.0 ¥.7 ¥.5 ¥1.8 ¥3.2 ¥1.8 ¥2.1 ¥.2 ¥1.1 .9 ¥1.4 ¥1.7 5.4 4.1 ¥3.8 3.8 .3 6.5 4.8 1.6 ¥1.0 ¥.1 ¥.8 .3 0 ¥2.0 ¥2.1 .5 .8 .2 ¥6.2 ¥15.4 30.2 13.9 ¥24.8 24.6 6.8 26.1 16.2 6.4 2.8 3.4 3.7 4.2 4.7 5.0 3.7 4.2 4.3 3.6 ¥3.4 ¥8.8 13.4 14.2 ¥13.0 10.7 6.9 16.6 17.1 2.9 2.2 2.4 1.9 2.6 2.7 1.9 1.1 2.2 2.2 2.6 .......... .......... .......... .......... .......... .......... .......... .......... .......... .......... .......... .......... .......... .......... .......... .......... .......... .......... .......... .......... .......... .......... .......... .......... .......... .......... .......... .......... .......... .......... 2.3 1.6 2.2 3.4 2.8 1.6 2.3 2.7 3.4 3.2 0.2 3.0 .1 .......... .1 .......... .1 ¥2.0 0.6 ¥2.7 ¥3.7 .2 3.1 1.0 .0 .4 2.1 1.3 2.0 2.5 2.7 4.0 4.7 5.7 7.0 5.2 4.0 .7 1.0 .0 .1 2.4 4.2 5.5 5.0 4.9 3.8 3.1 2.1 2.4 2.8 2.6 2.7 2.7 2.4 2.0 2.8 ccoleman on PROD1PC69 with ECOIND Change, month to month 2006: Sept .............. Oct ................ Nov ............... Dec ............... ¥0.5 ¥.4 .0 .4 0.4 .3 ¥.1 0 0.3 0 .4 .4 0.3 .3 .4 .3 0.4 .4 .4 .4 0.3 .3 .4 .3 0.5 ¥2.0 1.0 1.2 0.5 ¥.5 ¥.1 .2 ¥4.1 ¥3.0 ¥.8 1.7 0.1 ¥.1 ¥.4 ¥.1 ¥13.5 ¥10.6 ¥1.6 7.0 0.3 .3 .2 .2 ¥7.3 ¥6.7 ¥.2 4.2 2007: Jan ............... Feb ............... Mar ............... Apr ............... May ............... June .............. July .............. Aug ............... Sept .............. .2 .4 .6 .4 .7 .2 .1 ¥.1 .3 .7 .8 .3 .4 .3 .5 .3 .4 .5 .2 .4 .2 .2 .2 .3 .2 .0 .3 .3 .3 .1 .3 .2 .4 .2 .2 .3 .4 .4 .3 .2 .3 .3 .3 .2 .3 .2 .3 .3 .2 .1 .2 .2 .2 .3 .3 1.2 1.2 .0 .0 .1 .0 ¥.9 .1 .3 .5 ¥1.0 ¥.3 ¥.3 ¥.6 .4 ¥.5 .3 ¥.8 .1 2.8 1.2 2.8 ¥.2 ¥.3 ¥1.2 .1 ¥.1 ¥.2 .2 .1 ¥.3 .1 .0 .2 ¥.3 ¥3.0 .3 10.6 4.7 10.4 ¥1.0 ¥1.7 ¥4.9 .4 .8 .5 .1 .4 .3 .2 .6 .5 .3 ¥1.5 .9 5.9 2.4 5.4 ¥.5 ¥1.0 ¥3.2 .3 1 Includes items not shown separately. fuels—gas (piped), electricity, fuel oil, etc.—and motor fuel. Motor oil, coolant, etc., excluded beginning 1983. 2 Household 00:09 Nov 07, 2007 Jkt 038665 PO 00000 Frm 00024 Fmt 3401 .......... .......... 3.8 .......... .......... 6.0 .......... .......... 1.7 3 Quarterly changes are shown in the last month of the quarter. Source: Department of Labor, Bureau of Labor Statistics. 24 VerDate Aug 31 2005 .3 .2 .1 .2 .1 .2 .2 .2 .2 Sfmt 3401 E:\HR\OC\ECOIND.024 ECOIND PRICES RECEIVED AND PAID BY FARMERS In October, prices received by farmers rose 0.7 percent; prices paid by farmers were unchanged. (Data are not seasonally adjusted.) [1990–92=100; not seasonally adjusted] Prices received by farmers ccoleman on PROD1PC69 with ECOIND 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 All farm products Livestock and products Crops All commodities, services, interest, taxes, and wage rates 1 Production items, interest, taxes, and wage rates Production items Ratio 2 .............................. .............................. ............................... .............................. .............................. .............................. .............................. .............................. .............................. .............................. 107 102 96 96 102 98 107 119 115 r115 115 107 97 96 99 105 111 115 111 119 98 97 95 97 106 90 103 122 120 112 118 115 115 119 123 124 128 133 142 148 118 114 113 118 121 121 125 132 141 148 119 113 111 115 120 119 124 131 139 146 91 89 83 81 83 79 84 89 81 78 2006: Oct ..................... Nov .................... Dec .................... 115 119 120 114 122 126 116 116 113 148 148 149 148 148 149 145 146 147 78 80 81 2007: Jan .................... Feb .................... Mar .................... Apr .................... May .................... June ................... July .................... Aug .................... Sept r .................. Oct ..................... 123 127 133 134 137 138 140 140 141 142 130 137 141 140 141 140 141 141 142 149 116 120 126 129 134 137 140 139 139 132 152 153 155 157 157 158 158 158 159 159 152 154 156 158 158 158 159 159 160 160 148 150 153 156 156 156 157 158 158 158 81 83 86 85 87 87 89 89 89 89 1 Includes items not shown separately. ratio of index of prices received by farmers to index of prices paid, interest, taxes, and wage rates. 2 Percentage NOTE.—The official indexes are published on a 1910–14 base as required by law. The indexes have been converted to a 1990–92=100 base to facilitate comparison with other indexes. Source: Department of Agriculture. 25 VerDate Aug 31 2005 00:09 Nov 07, 2007 Jkt 038665 PO 00000 Frm 00025 Fmt 3401 Sfmt 3401 E:\HR\OC\ECOIND.025 ECOIND G:\GRAPHICS\eecoind.025 Period Prices paid by farmers MONEY, CREDIT, AND SECURITY MARKETS MONEY STOCK AND DEBT MEASURES In September, M2 rose. [Averages of daily figures, except debt end-of-period basis; billions of dollars, seasonally adjusted] M1 M2 Sum of currency, demand deposits, travelers checks, and other checkable deposits (OCDs) M1 plus retail MMMF balances, savings deposits (including MMDAs), and small time deposits ....................................................................................... ....................................................................................... ....................................................................................... ....................................................................................... ....................................................................................... ....................................................................................... ....................................................................................... ....................................................................................... ....................................................................................... ....................................................................................... 1,072.8 1,095.9 1,123.0 1,087.7 1,182.0 1,219.5 1,305.5 1,375.2 1,373.2 1,365.9 4,034.9 4,380.7 4,638.2 4,920.0 5,431.7 5,777.7 6,069.0 6,420.2 6,688.4 7,030.8 15,126.5 16,153.0 17,219.9 18,074.8 19,213.4 20,615.8 22,325.5 24,320.7 26,505.9 28,795.7 ¥0.8 2.2 2.5 ¥3.1 8.7 3.2 7.1 5.3 ¥.1 ¥.5 5.6 8.6 5.9 6.1 10.4 6.4 5.1 5.8 4.2 5.1 5.3 6.8 6.4 4.9 6.4 7.3 8.1 8.9 9.0 8.7 2006: Sept r ...................................................................................... Oct r ........................................................................................ Nov r ....................................................................................... Dec r ....................................................................................... 2007: Jan r ....................................................................................... Feb r ....................................................................................... Mar r ....................................................................................... Apr r ....................................................................................... May r ....................................................................................... June r ..................................................................................... July r ...................................................................................... Aug r ....................................................................................... Sept r ...................................................................................... 1,364.1 1,369.3 1,370.8 1,365.9 1,371.8 1,360.6 1,369.7 1,379.3 1,379.3 1,366.9 1,369.8 1,370.2 1,369.5 6,906.7 6,955.7 6,990.6 7,030.8 7,085.7 7,108.4 7,164.5 7,218.4 7,237.9 7,249.9 7,274.5 7,338.8 7,370.7 28,201.4 ............................ ............................ 28,795.7 ............................ ............................ 29,368.4 ............................ ............................ 29,888.3 ............................ ............................ ............................ ¥2.9 ¥1.6 ¥2.4 ¥1.5 ¥.1 ¥1.7 .8 1.5 1.2 .1 ¥.3 1.4 .0 3.8 4.6 5.3 5.7 6.6 6.5 7.5 7.6 7.1 6.2 5.3 6.5 5.8 7.2 ...................... ...................... 8.4 ...................... ...................... 7.9 ...................... ...................... 7.1 ...................... ...................... ...................... ccoleman on PROD1PC69 with ECOIND 1997: 1998: 1999: 2000: 2001: 2002: 2003: 2004: 2005: 2006: Dec r Dec r Dec r Dec r Dec r Dec r Dec r Dec r Dec r Dec r 1 Quarterly data; shown in last month of quarter. End-of-year data are for fourth quarter. Consists of outstanding credit market debt of the U.S. Government, State and local governments, and private nonfinancial sectors; data from flow of funds accounts. 2 Annual changes are from December to December and monthly changes are from 6 months earlier at a simple annual rate. 3 Annual changes are from fourth quarter to fourth quarter. Quarterly changes are from previous quarter at an annual rate. Debt of domestic nonfinancial sectors 1 00:09 Nov 07, 2007 Jkt 038665 PO 00000 Frm 00026 Fmt 3401 M1 M2 From previous period 3 Debt NOTE.—The Federal Reserve previously announced that the M3 monetary aggregate and most of its components would no longer be published. Institutional money market mutual funds will continue to be published as a memorandum item in the H.6 release, and the component on large-denomination time deposits will be published in other Federal Reserve Board releases. For details, see H.6 release of March 23, 2006. See p. 27 for components. Source: Board of Governors of the Federal Reserve System. 26 VerDate Aug 31 2005 Percent change From year or 6 months earlier 2 Sfmt 3401 E:\HR\OC\ECOIND.026 ECOIND g:\graphics\eecoind.026 Period Debt COMPONENTS OF MONEY STOCK [Averages of daily figures; billions of dollars, seasonally adjusted] Period 1997: 1998: 1999: 2000: 2001: 2002: 2003: 2004: 2005: 2006: Dec r Dec r Dec r Dec r Dec r Dec r Dec r Dec r Dec r Dec r Currency Nonbank travelers checks Demand deposits Other checkable deposits (OCDs) Savings deposits 1 At commercial banks Total At commercial banks Total At thrift institutions Small-denomination time deposits 2 At thrift institutions Total At commercial banks At thrift institutions Retail money funds Institutional money funds 3 .... .... .... .... .... .... .... .... .... .... 425.3 460.5 517.8 531.2 581.2 626.3 662.7 697.9 724.4 749.6 8.4 8.5 8.6 8.3 8.0 7.8 7.7 7.6 7.2 6.7 393.8 376.9 353.3 309.9 335.4 306.1 325.4 342.3 324.0 305.6 245.2 249.9 243.3 238.3 257.4 279.3 309.8 327.3 317.5 304.0 148.4 143.9 139.7 133.1 141.9 154.2 175.1 186.6 180.2 176.6 96.8 106.0 103.7 105.2 115.4 125.1 134.7 140.8 137.3 127.4 1,401.5 1,604.3 1,740.0 1,878.3 2,312.6 2,777.9 3,169.0 3,517.9 3,619.2 3,694.4 1,022.8 1,187.9 1,288.8 1,424.2 1,739.3 2,060.2 2,337.6 2,630.7 2,769.6 2,902.1 378.8 416.3 451.2 454.1 573.3 717.7 831.4 887.2 849.6 792.3 968.6 952.4 956.6 1,047.4 976.2 895.8 818.4 829.6 995.2 1,169.4 625.5 626.3 636.8 700.0 635.2 590.6 541.2 550.9 644.1 757.3 343.2 326.0 319.8 347.4 341.0 305.1 277.3 278.7 351.2 412.0 592.0 728.3 818.6 906.7 960.9 884.6 776.9 697.6 700.8 801.1 400.9 550.1 654.6 808.8 1,215.3 1,266.7 1,133.4 1,084.4 1,150.2 1,348.3 2006: Sept r ... Oct r ..... Nov r .... Dec r .... 742.3 744.5 747.3 749.6 6.8 6.8 6.8 6.7 308.8 311.9 312.5 305.6 306.3 306.2 304.2 304.0 175.7 177.9 177.1 176.6 130.6 128.3 127.1 127.4 3,633.9 3,652.7 3,667.6 3,694.4 2,790.6 2,849.2 2,868.1 2,902.1 843.3 803.5 799.5 792.3 1,142.3 1,156.0 1,164.1 1,169.4 732.4 749.7 754.3 757.3 409.8 406.3 409.7 412.0 766.4 777.7 788.1 801.1 1,278.1 1,301.2 1,319.3 1,348.3 2007: Jan r ..... Feb r .... Mar r .... Apr r ..... May r .... June r ... July r .... Aug r .... Sept ..... 750.3 749.8 751.2 753.4 754.6 755.0 758.1 758.4 760.1 6.7 6.6 6.6 6.6 6.5 6.5 6.5 6.4 6.4 306.4 299.8 302.8 306.7 306.8 304.6 303.9 303.5 299.6 308.5 304.3 309.2 312.6 311.3 300.8 301.3 301.8 303.3 179.2 176.5 177.6 180.2 178.9 169.0 169.4 169.0 168.8 129.3 127.8 131.6 132.4 132.4 131.8 131.9 132.8 134.6 3,723.4 3,745.2 3,771.8 3,807.2 3,820.7 3,832.3 3,838.8 3,871.8 3,869.3 2,920.1 2,932.1 2,924.8 2,939.2 2,941.5 2,950.9 2,966.7 3,000.0 3,008.9 803.4 813.1 847.0 868.0 879.2 881.4 872.1 871.9 860.4 1,174.7 1,179.8 1,183.0 1,187.1 1,187.7 1,186.1 1,184.3 1,185.0 1,195.3 760.1 764.9 754.9 756.5 756.6 756.5 759.9 760.5 767.4 414.6 414.9 428.2 430.7 431.1 429.6 424.4 424.5 427.9 815.8 822.8 839.9 844.8 850.2 864.7 881.6 911.8 936.7 1,343.7 1,354.1 1,385.0 1,423.9 1,463.7 1,486.6 1,519.2 1,595.1 1,697.1 1 Savings deposits including money market deposit accounts (MMDAs). deposits are those issued in amounts of less than $100,000. money funds are not part of non-M1 M2. NOTE.—See Note, p. 26. Source: Board of Governors of the Federal Reserve System. 2 Small-denomination 3 Institutional AGGREGATE RESERVES AND MONETARY BASE [Averages of daily figures 1; millions of dollars; seasonally adjusted, except as noted by NSA] Adjusted for changes in reserve requirements Period Total 2 1997: 1998: 1999: 2000: 2001: 2002: 2003: 2004: 2005: 2006: Nonborrowed 3 Required Excess (NSA) Monetary base Total Primary Secondary Seasonal Adjustment 4 Dec .................................. Dec .................................. Dec .................................. Dec .................................. Dec .................................. Dec .................................. Dec .................................. Dec r ................................ Dec r ................................ Dec r ................................ 46,875 45,168 42,115 38,680 41,420 40,357 42,672 46,600 45,144 43,313 46,551 45,052 41,795 38,471 41,354 40,278 42,626 46,538 44,976 43,122 45,189 43,656 40,821 37,356 39,777 38,349 41,625 44,692 43,244 41,508 1,687 1,512 1,294 1,325 1,643 2,008 1,047 1,909 1,900 1,805 479,944 513,934 593,842 584,930 635,575 681,668 720,519 759,625 787,906 812,576 324 117 320 210 67 80 46 63 169 191 ................ ................ ................ ................ ................ ................ 17 11 97 111 ................ ................ ................ ................ ................ ................ 0 0 0 0 79 15 67 111 33 45 29 52 72 80 245 101 179 99 34 35 ................ ................ ................ ................ 2006: Sept r ............................... Oct r ................................. Nov r ................................ Dec r ................................ 43,154 42,914 43,180 43,313 42,751 42,685 43,020 43,122 41,423 41,249 41,489 41,508 1,732 1,665 1,691 1,805 805,415 806,940 810,080 812,576 403 229 160 191 66 24 48 111 0 0 0 0 338 205 112 80 ................ ................ ................ ................ 2007: Jan r ................................. Feb r ................................ Mar r ................................ Apr r ................................. May r ................................ June r ............................... July r ................................ Aug r ................................ Sept ................................. 42,171 42,422 42,320 42,711 43,153 43,602 41,915 44,921 42,538 41,960 42,392 42,266 42,632 43,050 43,415 41,653 43,946 40,972 40,667 40,925 40,685 41,183 41,715 41,897 40,241 40,098 40,792 1,504 1,497 1,635 1,528 1,439 1,705 1,674 4,823 1,747 813,385 812,166 813,793 816,077 817,891 819,299 821,320 824,863 822,427 211 30 54 79 103 187 262 975 1,567 187 8 21 32 14 43 45 701 1,345 0 0 5 0 0 0 0 19 0 24 22 28 48 90 145 217 255 221 ................ ................ ................ ................ ................ ................ ................ ................ ................ 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. ccoleman on PROD1PC69 with ECOIND Borrowings of depository institutions from the Federal Reserve (NSA) Reserves of depository institutions 3 Seasonally adjusted break-adjusted total reserves less unadjusted total borrowings of depository institutions from the Federal Reserve. 4 Discontinued after January 8, 2003. Source: Board of Governors of the Federal Reserve System. 27 VerDate Aug 31 2005 00:09 Nov 07, 2007 Jkt 038665 PO 00000 Frm 00027 Fmt 3401 Sfmt 3401 E:\HR\OC\ECOIND.027 ECOIND BANK CREDIT AT ALL COMMERCIAL BANKS Total commercial bank loans and leases rose 1.5 percent in September; commercial and industrial loans rose 3.5 percent. [Billions of dollars, seasonally adjusted 1] Securities in bank credit Dec r .......... Dec r .......... Dec r .......... Dec r .......... Dec r .......... Dec r .......... Dec r .......... Dec r .......... Dec r .......... Dec r .......... Sept r ......... Oct r .......... Nov r ......... Dec r .......... 2007: Jan r .......... Feb r .......... Mar r ......... Apr r .......... May r ......... June r ........ July r ......... Aug r ......... Sept .......... ccoleman on PROD1PC69 with ECOIND 1997: 1998: 1999: 2000: 2001: 2002: 2003: 2004: 2005: 2006: 2006: Total bank credit 4,099.8 4,534.8 4,764.2 5,222.9 5,425.5 5,887.7 6,260.1 6,807.0 7,516.2 8,348.0 8,073.8 8,225.7 8,275.1 8,348.0 8,396.5 8,469.0 8,448.3 8,510.8 8,566.6 8,616.3 8,687.2 8,819.2 8,945.5 Total securities 1,099.6 1,238.3 1,282.0 1,348.4 1,488.3 1,716.4 1,850.8 1,937.7 2,052.6 2,227.9 2,194.3 2,217.8 2,226.6 2,227.9 2,226.2 2,241.0 2,265.2 2,276.3 2,281.0 2,299.8 2,312.4 2,339.1 2,369.1 755.6 797.0 812.6 790.1 848.3 1,022.6 1,104.8 1,153.3 1,141.4 1,196.0 1,210.8 1,222.9 1,215.3 1,196.0 1,198.5 1,202.9 1,210.4 1,185.8 1,173.3 1,177.1 1,180.4 1,182.8 1,168.0 Loans and leases in bank credit Real estate CommerOther Total loans cial and securities and leases 2 industrial 344.0 441.2 469.4 558.2 640.1 693.8 746.0 784.4 911.2 1,032.0 983.5 994.9 1,011.3 1,032.0 1,027.7 1,038.1 1,054.7 1,090.5 1,107.7 1,122.7 1,132.0 1,156.3 1,201.1 3,000.2 3,296.5 3,482.3 3,874.6 3,937.2 4,171.3 4,409.3 4,869.3 5,463.6 6,120.1 5,879.6 6,007.8 6,048.5 6,120.1 6,170.2 6,228.0 6,183.1 6,234.6 6,285.6 6,316.5 6,374.8 6,480.0 6,576.5 1 Data are prorated averages of Wednesday values for domestically chartered commercial banks, branches and agencies of foreign banks, New York State investment companies (through September 1996), and Edge Act and agreement corporations. Data are adjusted for breaks caused by reclassifications of assets and liabilities. 848.0 940.9 992.3 1,080.3 1,019.6 956.8 897.7 920.6 1,039.2 1,193.8 1,164.8 1,178.2 1,183.5 1,193.8 1,201.5 1,211.5 1,219.9 1,226.9 1,243.7 1,261.9 1,282.5 1,315.7 1,362.0 Total 1,246.3 1,336.9 1,475.8 1,658.7 1,786.8 2,030.6 2,225.2 2,567.8 2,928.9 3,368.3 3,165.3 3,312.4 3,329.4 3,368.3 3,399.2 3,430.0 3,372.9 3,395.9 3,411.3 3,439.0 3,457.3 3,471.4 3,495.6 Revolving home equity 105.0 103.9 101.5 130.2 155.8 213.7 281.0 399.9 446.7 471.3 450.6 466.4 468.1 471.3 473.3 471.0 462.6 458.1 458.3 459.6 462.4 465.9 470.1 Consumer 1,141.3 1,232.9 1,374.3 1,528.6 1,631.0 1,816.9 1,944.2 2,167.8 2,482.2 2,896.9 2,714.7 2,845.9 2,861.4 2,896.9 2,925.9 2,958.9 2,910.2 2,937.8 2,953.0 2,979.4 2,994.9 3,005.5 3,025.5 00:09 Nov 07, 2007 Jkt 038665 PO 00000 Frm 00028 Fmt 3401 Other 502.5 496.9 490.8 540.2 557.4 588.0 645.1 697.0 708.0 741.8 727.8 729.5 734.5 741.8 749.8 749.8 747.2 753.2 756.7 767.0 774.8 777.2 784.6 88.2 135.2 139.9 160.6 134.0 171.8 195.4 194.2 241.8 266.0 249.9 252.5 261.6 266.0 267.8 278.6 284.7 282.0 295.5 269.2 270.7 285.7 281.6 315.2 386.7 383.5 434.8 439.3 424.2 445.9 489.7 545.8 550.4 571.8 535.3 539.5 550.4 552.0 558.2 558.5 576.5 578.3 579.3 589.6 630.0 652.6 2 Excludes Federal funds sold to, reverse repurchase agreements (RPs) with, and loans to commercial banks in the United States. Source: Board of Governors of the Federal Reserve System. 28 VerDate Aug 31 2005 Security Other Sfmt 3401 E:\HR\OC\ECOIND.028 ECOIND g:\graphics\eecoind.028 Period U.S. Treasury and agency securities SOURCES AND USES OF FUNDS, NONFARM NONFINANCIAL CORPORATE BUSINESS [Billions of dollars; quarterly data at seasonally adjusted annual rates] Sources Uses External (Net increase in liabilities) Funds raised in markets Period Total 1997 .................. 1998 .................. 1999 ................... 2000 .................. 2001 .................. 2002 .................. 2003 .................. 2004 .................. 2005 .................. 2006 .................. 2005: I ............. II ........... III .......... IV .......... 2006: I ............. II ........... III .......... IV .......... 2007: I ............. II p .......... 995.4 1,298.1 1,718.6 1,955.4 850.2 896.2 844.7 1,537.4 1,990.3 1,233.4 1,963.3 2,041.9 1,986.7 1,969.5 1,461.0 1,089.0 1,187.8 1,195.6 1,218.9 1,520.1 Internal 1 711.9 682.1 731.0 718.0 755.0 811.3 831.3 928.4 995.0 993.8 927.3 986.1 1,046.5 1,020.1 1,006.2 1,009.3 1,023.9 935.8 944.3 945.5 Credit market instruments Total 283.5 616.0 987.6 1,237.4 95.2 84.9 13.4 609.0 995.3 239.6 1,036.0 1,055.8 940.2 949.4 454.8 79.7 163.9 259.8 274.6 574.6 Capital expenditures 3 Total Total net funds raised Net new equity issues 214.1 181.4 259.8 223.5 167.0 ¥28.8 48.4 43.6 ¥110.6 ¥175.4 65.3 ¥107.9 ¥202.4 ¥197.5 ¥89.9 ¥207.4 ¥279.5 ¥124.9 ¥52.9 ¥144.1 ¥77.4 ¥215.5 ¥110.4 ¥118.2 ¥48.1 ¥41.6 ¥42.0 ¥126.6 ¥363.4 ¥614.1 ¥264.3 ¥300.1 ¥469.9 ¥419.2 ¥569.6 ¥601.6 ¥534.0 ¥751.2 ¥572.8 ¥770.0 Total Securities and mortgages 291.5 396.9 370.2 341.7 215.2 12.8 90.4 170.1 252.8 438.7 329.6 192.2 267.5 221.7 479.7 394.2 254.5 626.3 519.9 625.9 1 Profits before tax (book) less taxes on corporate income, less net dividends, plus capital consumption allowance (consumption of fixed capital plus capital consumption adjustment), foreign earnings retained abroad, inventory valuation adjustment, and net capital transfers. 2 Includes trade payables, taxes payable, and miscellaneous liabilities (foreign direct investment in the U.S., pension fund contributions payable, and other). 186.9 242.2 269.4 185.9 403.9 167.1 223.2 134.3 155.2 327.1 106.6 99.8 228.6 185.5 316.2 297.1 279.1 416.3 417.9 509.1 Loans and shortterm paper Other 2 104.6 154.9 100.8 155.8 ¥188.8 ¥154.1 ¥132.8 35.8 97.5 111.6 223.0 92.4 38.9 36.1 163.4 97.3 ¥24.5 210.0 101.9 116.8 69.3 434.5 727.9 1,014.0 ¥71.7 113.6 ¥35.0 565.6 1,106.0 415.0 970.7 1,163.7 1,142.5 1,146.9 544.8 287.1 443.4 384.7 327.5 718.6 1,016.2 1,348.4 1,833.8 2,137.7 980.2 867.2 832.5 1,608.8 1,894.0 1,399.7 1,817.0 1,887.4 1,951.8 1,919.9 1,648.0 1,274.1 1,356.1 1,320.5 1,379.1 1,629.6 743.8 778.5 863.9 928.5 802.6 737.1 749.9 825.7 915.0 1,032.9 913.4 880.0 898.8 967.9 992.1 1,034.0 1,049.2 1,056.3 993.0 1,027.0 Increase in financial assets 272.4 569.9 969.9 1,209.2 177.6 130.1 82.6 783.1 979.0 366.8 903.6 1,007.4 1,053.0 952.0 655.9 240.1 306.9 264.2 386.1 602.6 Discrepancy (sources less uses) ¥20.8 ¥50.4 ¥115.2 ¥182.4 ¥130.0 28.9 12.1 ¥71.3 96.3 ¥166.3 146.3 154.6 34.8 49.5 ¥187.0 ¥185.0 ¥168.4 ¥125.0 ¥160.3 ¥109.5 3 Nonresidential fixed investment plus residential fixed investment, inventory change with inventory valuation adjustment, and nonproduced nonfinancial assets. Source: Board of Governors of the Federal Reserve System. CONSUMER CREDIT [Billions of dollars; seasonally adjusted] Consumer credit outstanding (end of period) Period Total Dec ............................................................................... Dec ............................................................................... Dec ............................................................................... Dec ............................................................................... Dec ............................................................................... Dec ............................................................................... Dec ............................................................................... Dec ............................................................................... Dec ............................................................................... Dec ............................................................................... Aug .............................................................................. Sept .............................................................................. Oct ............................................................................... Nov ............................................................................... Dec ............................................................................... 2007: Jan ............................................................................... Feb ............................................................................... Mar .............................................................................. Apr ............................................................................... May .............................................................................. June ............................................................................. July .............................................................................. Aug p ............................................................................ ccoleman on PROD1PC69 with ECOIND 1997: 1998: 1999: 2000: 2001: 2002: 2003: 2004: 2005: 2006: 2006: Revolving 1,324.8 1,420.5 1,532.1 1,717.5 1,867.2 1,974.1 2,078.0 2,191.3 2,284.8 2,388.8 2,356.6 2,362.1 2,364.4 2,382.6 2,388.8 2,397.0 2,403.7 2,418.2 2,421.4 2,437.4 2,447.8 2,457.4 2,469.6 1 Change based on data in billions of dollars as shown here. For year-end data, change from preceding year-end; for monthly data, change from preceding month. 2 Includes automobile loans and all other loans not included in revolving credit, such as loans for mobile homes, education, boats, trailers, or vacations. These loans may be secured or unsecured. 540.0 581.1 610.5 683.7 716.7 748.9 770.5 800.0 824.9 876.8 857.7 860.0 864.8 873.7 876.8 878.7 882.1 889.7 889.7 898.4 903.7 909.3 915.5 Nonrevolving 2 784.8 839.4 921.5 1,033.8 1,150.5 1,225.2 1,307.5 1,391.3 1,459.9 1,512.1 1,498.9 1,502.1 1,499.6 1,508.9 1,512.1 1,518.4 1,521.5 1,528.5 1,531.7 1,539.0 1,544.1 1,548.1 1,554.1 Net change in consumer credit outstanding 1 Total 71.4 95.7 111.6 185.4 149.7 106.9 103.9 113.3 93.5 104.0 12.8 5.5 2.3 18.2 6.2 8.2 6.7 14.5 3.2 16.0 10.4 9.6 12.2 Revolving 32.5 41.1 29.4 73.2 33.0 32.2 21.6 29.5 24.9 51.9 6.2 2.3 4.8 8.9 3.1 1.9 3.4 7.6 .0 8.7 5.3 5.6 6.2 Nonrevolving 2 38.9 54.6 82.1 112.3 116.7 74.7 82.3 83.8 68.6 52.2 6.6 3.2 ¥2.5 9.3 3.2 6.3 3.1 7.0 3.2 7.3 5.1 4.0 6.0 NOTE.—Effective October 7, 2003 data beginning 1977 include student loans extended by the Federal Government and by SLM Holding Corporation. Source: Board of Governors of the Federal Reserve System. 29 VerDate Aug 31 2005 00:09 Nov 07, 2007 Jkt 038665 PO 00000 Frm 00029 Fmt 3401 Sfmt 3401 E:\HR\OC\ECOIND.029 ECOIND INTEREST RATES AND BOND YIELDS Overall, interest rates fell in October. [Percent per annum] Constant ccoleman on PROD1PC69 with ECOIND Period 1997 ....................... 1998 ....................... 1999 ....................... 2000 ....................... 2001 ....................... 2002 ....................... 2003 ....................... 2004 ....................... 2005 ....................... 2006 ....................... 2006: Oct .............. Nov ............. Dec .............. 2007: Jan .............. Feb .............. Mar ............. Apr .............. May ............. June ............ July ............. Aug ............. Sept ............. Oct .............. Week ended: 2007: Oct 6 ........ 13 ....... 20 ....... 27 ....... Nov 3 ........ 3-month bills (new issues) 1 3-year maturities 2 10-year 30-year Highgrade municipal bonds (Standard & Poor’s) 3 Corporate Aaa bonds (Moody’s) Discount window (N.Y. F.R. Bank) 4 5 Primary credit 5.07 4.81 4.66 5.85 3.45 1.62 1.02 1.38 3.16 4.73 4.89 4.95 4.85 4.96 5.02 4.97 4.88 4.77 4.63 4.84 4.34 4.01 3.97 6.10 5.14 5.49 6.22 4.09 3.10 2.10 2.78 3.93 4.77 4.72 4.64 4.58 4.79 4.75 4.51 4.60 4.69 5.00 4.82 4.34 4.06 4.01 6.35 5.26 5.65 6.03 5.02 4.61 4.01 4.27 4.29 4.80 4.73 4.60 4.56 4.76 4.72 4.56 4.69 4.75 5.10 5.00 4.67 4.52 4.53 6.61 5.58 5.87 5.94 5.49 * * * * 4.91 4.85 4.69 4.68 4.85 4.82 4.72 4.87 4.90 5.20 5.11 4.93 4.79 4.77 5.55 5.12 5.43 5.77 5.19 5.05 4.73 4.63 4.29 4.42 4.32 4.17 4.17 4.29 4.21 4.18 4.32 4.37 4.64 4.64 4.73 4.57 4.41 7.26 6.53 7.04 7.62 7.08 6.49 5.67 5.63 5.24 5.59 5.51 5.33 5.32 5.40 5.39 5.30 5.47 5.47 5.79 5.73 5.79 5.74 5.66 .............. .............. .............. .............. .............. .............. 2.12 2.34 4.19 5.96 6.25 6.25 6.25 6.25 6.25 6.25 6.25 6.25 6.25 6.25 5.75 5.25 5.00 3.84 3.93 4.19 3.90 3.92 4.07 4.22 4.06 3.82 3.82 4.57 4.67 4.57 4.39 4.39 4.80 4.88 4.82 4.67 4.67 4.51 4.45 4.38 4.28 4.41 5.72 5.78 5.68 5.54 5.54 5.25 5.25 5.25 5.25 5.00 1 Bank-discount basis. on actively traded issues adjusted to constant maturities. data are Wednesday figures. 4 Discount window borrowing for primary credit and discount rate (adjustment credit). The rate for primary credit replaced the rate for adjustment credit. 5 Average effective rate for year; rate in effect at end of month or week. 6 Daily effective rate; weighted average of rates on brokered trades. 2 Yields 3 Weekly Discount rate Prime rate charged by banks 5 5.00 4.92 4.62 5.73 3.40 1.17 00:09 Nov 07, 2007 Jkt 038665 PO 00000 Frm 00030 Fmt 3401 Newhome mortgage yields (FHFB) 7 * * * * * * * * * * * * * * * * * 8.44 8.35 8.00 9.23 6.91 4.67 4.12 4.34 6.19 7.96 8.25 8.25 8.25 8.25 8.25 8.25 8.25 8.25 8.25 8.25 8.25 7.75 7.50 5.46 5.35 4.97 6.24 3.88 1.67 1.13 1.35 3.22 4.97 5.25 5.25 5.24 5.25 5.26 5.26 5.25 5.25 5.25 5.26 5.02 4.94 4.76 7.71 7.07 7.04 7.52 7.00 6.43 5.80 5.77 5.94 6.63 6.69 6.55 6.37 6.35 6.31 6.22 6.21 6.22 6.54 6.70 6.73 6.58 .............. * * * * * 7.75 7.75 7.75 7.75 7.50 4.72 4.75 4.74 4.73 4.78 .............. .............. .............. .............. .............. 7 Effective rate (in the primary market) on conventional mortgages, reflecting fees and charges as well as contract rate and assumed, on the average, repayment at end of 10 years. *Discount rate (adjustment credit) series was discontinued after January 8, 2003. Series for 30-year constant maturity was discontinued on February 18, 2002, and reintroduced on February 9, 2006. Sources: Department of the Treasury, Board of Governors of the Federal Reserve System, Federal Housing Finance Board, Moody’s Investors Service, and Standard & Poor’s. 30 VerDate Aug 31 2005 Federal funds rate 6 Sfmt 3401 E:\HR\OC\ECOIND.030 ECOIND g:\graphics\eecoind.030 U.S. Treasury security yields COMMON STOCK PRICES AND YIELDS Stock prices rose in October. Common stock prices 1 New York Stock Exchange indexes 2 3 (December 31, 2002=5,000) 1997 ......................................................... 1998 ......................................................... 1999 ......................................................... 2000 ......................................................... 2001 ......................................................... 2002 ......................................................... 2003 ......................................................... 2004 ......................................................... 2005 ......................................................... 2006 ......................................................... 2006: Oct ............................................... Nov ............................................... Dec ............................................... 2007: Jan .............................................. Feb ............................................... Mar .............................................. Apr ............................................... May .............................................. June ............................................. July .............................................. Aug ............................................... Sept .............................................. Oct ............................................... Week ended: 2007: Oct 6 ........................................... 13 ......................................... 20 ......................................... 27 ......................................... Nov 3 ......................................... Nasdaq composite index (Feb. 5, 1971=100) 6 Dividendprice ratio Earningsprice ratio Composite Financial Energy Health Care 4,827.35 5,818.26 6,546.81 6,805.89 6,397.85 5,578.89 5,447.46 6,612.62 7,349.00 8,357.99 8,651.02 8,856.30 9,089.55 9,132.04 9,345.98 9,120.57 9,555.98 9,822.99 9,896.98 9,985.42 9,440.44 9,777.59 10,159.33 ................ ................ ................ ................ ................ ................ 5,583.00 6,822.18 7,383.70 8,654.40 9,101.77 9,251.53 9,461.77 9,575.21 9,732.63 9,342.66 9,658.88 9,864.01 9,754.29 9,543.66 8,963.67 9,060.63 9,390.30 .................. .................. .................. .................. .................. .................. 5,273.90 6,952.36 9,377.84 11,206.94 11,020.11 11,657.36 12,078.39 11,381.56 11,658.11 11,503.16 12,441.16 13,031.00 13,639.81 14,318.49 13,249.47 14,300.99 14,976.30 ................ ................ ................ ................ ................ ................ 5,288.67 5,924.80 6,283.96 6,685.06 6,975.17 6,845.16 6,931.01 7,083.45 7,174.03 6,997.30 7,332.01 7,474.48 7,268.42 7,210.07 6,959.38 7,138.20 7,231.60 7,441.15 8,625.52 10,464.88 10,734.90 10,189.13 9,226.43 8,993.59 10,317.39 10,547.67 11,408.67 11,963.12 12,185.15 12,377.62 12,512.89 12,631.48 12,268.53 12,754.80 13,407.76 13,480.21 13,677.89 13,239.71 13,557.69 13,901.28 873.43 1,085.50 1,327.33 1,427.22 1,194.18 993.94 965.23 1,130.65 1,207.23 1,310.46 1,363.38 1,388.63 1,416.42 1,424.16 1,444.79 1,406.95 1,463.65 1,511.14 1,514.49 1,520.70 1,454.62 1,497.12 1,539.66 1,469.49 1,794.91 2,728.15 3,783.67 2,035.00 1,539.73 1,647.17 1,986.53 2,099.32 2,263.41 2,330.17 2,408.70 2,431.91 2,453.19 2,479.86 2,401.49 2,499.57 2,562.14 2,595.40 2,655.08 2,539.50 2,634.47 2,780.42 1.77 1.49 1.25 1.15 1.32 1.61 1.77 1.72 1.83 1.87 1.83 1.80 1.79 1.81 1.82 1.89 1.84 1.81 1.81 1.80 1.92 1.88 1.84 4.57 3.46 3.17 3.63 2.95 2.92 3.84 4.89 5.36 5.78 .................. .................. 5.75 .................. .................. 5.85 .................. .................. 5.65 .................. .................. .................. .................. 10,170.45 10,255.60 10,120.37 10,039.95 10,161.43 9,563.61 9,638.52 9,275.96 9,122.41 9,187.40 14,638.84 14,844.77 15,260.34 14,977.08 15,196.80 7,304.92 7,326.96 7,182.60 7,131.95 7,165.90 14,028.65 14,079.03 13,840.25 13,679.41 13,751.14 1,546.74 1,559.28 1,533.84 1,518.30 1,527.89 2,746.28 2,796.15 2,772.22 2,776.60 2,819.70 1.84 1.81 1.83 1.87 1.83 .................. .................. .................. .................. .................. 1 Average ccoleman on PROD1PC69 with ECOIND Dow Jones industrial average 4 of daily closing prices. all the stocks (nearly 3,000) listed on the NYSE. January 9, 2003, the NYSE relaunched the composite index with changes in methodology, definitions, and based on Dec. 31, 2002=5,000. Effective January 8, 2004 new indexes for Financial, Energy, and Health Care were introduced by the NYSE. Previous indexes shown for Industrial, Transportation, Utility, and Finance were discontinued. 4 Includes 30 stocks. 2 Includes 3 Effective 5 Includes 500 stocks. over 5,000 stocks. & Poor’s series. Dividend-price ratios based on Wednesday closing prices. Earnings-price ratios based on prices at end of quarter. 6 Includes 7 Standard Sources: New York Stock Exchange, Dow Jones & Company, Inc., Standard & Poor’s, and Nasdaq Stock Market. 31 VerDate Aug 31 2005 00:09 Nov 07, 2007 Jkt 038665 PO 00000 Frm 00031 Fmt 3401 Sfmt 3401 E:\HR\OC\ECOIND.031 ECOIND g:\graphics\eecoind.031 Period Common stock yields (percent) 7 Standard & Poor’s composite index (1941– 43=10) 5 FEDERAL FINANCE FEDERAL RECEIPTS, OUTLAYS, AND DEBT In fiscal 2007, there was a deficit of $162.8 billion, compared with a deficit of $248.2 billion a year earlier. [Billions of dollars] Receipts Outlays Surplus or deficit (¥) Receipts 1,055.1 1,091.3 1,154.5 1,258.7 1,351.9 1,453.2 1,579.4 1,722.0 1,827.6 2,025.5 1,991.4 1,853.4 1,782.5 1,880.3 2,153.9 2,407.3 2,567.7 2,659.4 1,324.3 1,381.6 1,409.5 1,461.9 1,515.9 1,560.6 1,601.3 1,652.7 1,702.0 1,789.2 1,863.2 2,011.2 2,160.1 2,293.0 2,472.2 2,655.4 2,730.5 2,917.7 ¥269.2 ¥290.3 ¥255.1 ¥203.2 ¥164.0 ¥107.4 ¥21.9 69.3 125.6 236.2 128.2 ¥157.8 ¥377.6 ¥412.7 ¥318.3 ¥248.2 ¥162.8 ¥258.3 761.2 788.9 842.5 923.7 1,000.9 1,085.7 1,187.4 1,306.2 1,383.2 1,544.9 1,483.9 1,338.1 1,258.7 1,345.5 1,576.4 1,798.9 1,932.6 1,990.7 Fiscal year or period 1991 ...................................... 1992 ...................................... 1993 ...................................... 1994 ...................................... 1995 ...................................... 1996 ...................................... 1997 ...................................... 1998 ...................................... 1999 ...................................... 2000 ...................................... 2001 ...................................... 2002 ...................................... 2003 ...................................... 2004 ...................................... 2005 ....................................... 2006 ...................................... 2007 1 ..................................... 2008 (estimates) ................... ccoleman on PROD1PC69 with ECOIND 1 Data On-budget from Final Monthly Treasury Statement for fiscal 2007 released on October 11, 2007. Outlays 1,082.6 1,129.3 1,142.9 1,182.5 1,227.2 1,259.7 1,290.7 1,336.1 1,381.3 1,458.5 1,516.4 1,655.5 1,797.1 1,913.5 2,070.0 2,233.4 2,276.9 2,450.7 Off-budget Surplus or deficit (¥) ¥321.4 ¥340.4 ¥300.4 ¥258.8 ¥226.4 ¥174.0 ¥103.2 ¥29.9 1.9 86.4 ¥32.4 ¥317.4 ¥538.4 ¥568.0 ¥493.6 ¥434.5 ¥344.3 ¥459.9 Receipts 293.9 302.4 311.9 335.0 351.1 367.5 392.0 415.8 444.5 480.6 507.5 515.3 523.8 534.7 577.5 608.4 635.1 668.6 Outlays 241.7 252.3 266.6 279.4 288.7 300.9 310.6 316.6 320.8 330.8 346.8 355.7 363.0 379.5 402.2 422.1 453.6 467.1 00:09 Nov 07, 2007 Jkt 038665 PO 00000 Frm 00032 Fmt 3401 Surplus or deficit (¥) 52.2 50.1 45.3 55.7 62.4 66.6 81.4 99.2 123.7 149.8 160.7 159.7 160.8 155.2 175.3 186.3 181.5 201.6 Gross Federal 3,598.2 4,001.8 4,351.0 4,643.3 4,920.6 5,181.5 5,369.2 5,478.2 5,605.5 5,628.7 5,769.9 6,198.4 6,760.0 7,354.7 7,905.3 8,451.4 8,948.5 9,528.6 Held by the public 2,689.0 2,999.7 3,248.4 3,433.1 3,604.4 3,734.1 3,772.3 3,721.1 3,632.4 3,409.8 3,319.6 3,540.4 3,913.4 4,295.5 4,592.2 4,829.0 5,032.9 5,321.5 NOTE.—Data for fiscal 2008 are from Mid-Session Review, Budget of the U.S. Government, Fiscal Year 2008, issued July 11, 2007. Other data (except as noted) are from Budget of the United States Government, Fiscal Year 2008, issued February 5, 2007. Sources: Department of the Treasury and Office of Management and Budget. 32 VerDate Aug 31 2005 Federal debt (end of period) Sfmt 3401 E:\HR\OC\ECOIND.032 ECOIND g:\graphics\eecoind.032 Total FEDERAL RECEIPTS BY SOURCE AND OUTLAYS BY FUNCTION In fiscal 2007, receipts were $160.4 billion higher than a year earlier and outlays were $75.1 billion higher. [Billions of dollars] On-budget and off-budget receipts Total 1991 1992 1993 1994 1995 1996 1997 1998 1999 Corporation income taxes Other Department of Defense, military Total Total International affairs Health Medicare Income Social security security Net interest Other .............................................. .............................................. .............................................. .............................................. .............................................. .............................................. .............................................. .............................................. .............................................. 1,055.1 1,091.3 1,154.5 1,258.7 1,351.9 1,453.2 1,579.4 1,722.0 1,827.6 467.8 476.0 509.7 543.1 590.2 656.4 737.5 828.6 879.5 98.1 100.3 117.5 140.4 157.0 171.8 182.3 188.7 184.7 396.0 413.7 428.3 461.5 484.5 509.4 539.4 571.8 611.8 93.2 101.4 99.0 113.8 120.2 115.5 120.3 132.9 151.7 1,324.3 1,381.6 1,409.5 1,461.9 1,515.9 1,560.6 1,601.3 1,652.7 1,702.0 273.3 298.4 291.1 281.6 272.1 265.8 270.5 268.2 274.8 262.3 286.8 278.5 268.6 259.4 253.1 258.3 255.8 261.2 15.9 16.1 17.2 17.1 16.4 13.5 15.2 13.1 15.2 71.2 89.5 99.4 107.1 115.4 119.4 123.8 131.4 141.1 104.5 119.0 130.6 144.7 159.9 174.2 190.0 192.8 190.4 172.5 199.6 210.0 217.2 223.8 229.7 235.0 237.8 242.5 269.0 287.6 304.6 319.6 335.8 349.7 365.3 379.2 390.0 194.4 199.3 198.7 202.9 232.1 241.1 244.0 241.1 229.8 223.6 172.2 158.0 171.7 160.3 167.3 157.4 189.0 218.2 2000 .............................................. 2001 .............................................. 2002 .............................................. 2003 .............................................. 2004 .............................................. 2005 .............................................. 2006 .............................................. 2007 1 ............................................. 2008 (estimates) ........................... 2,025.5 1,991.4 1,853.4 1,782.5 1,880.3 2,153.9 2,407.3 2,567.7 2,659.4 1,004.5 994.3 858.3 793.7 809.0 927.2 1,043.9 1,163.5 1,226.6 207.3 151.1 148.0 131.8 189.4 278.3 353.9 370.2 343.0 652.9 694.0 700.8 713.0 733.4 794.1 837.8 869.6 918.5 160.9 152.0 146.2 144.1 148.5 154.2 171.6 164.4 171.3 1,789.2 1,863.2 2,011.2 2,160.1 2,293.0 2,472.2 2,655.4 2,730.5 2,917.7 294.4 304.8 348.5 404.8 455.8 495.3 521.8 560.1 600.7 281.1 290.2 331.9 387.2 436.5 474.1 499.3 538.8 577.1 17.2 16.5 22.4 21.2 26.9 34.6 29.5 28.5 36.4 154.5 172.3 196.5 219.6 240.1 250.6 252.8 266.3 287.6 197.1 217.4 230.9 249.4 269.4 298.6 329.9 375.4 397.9 253.7 269.8 312.7 334.6 333.1 345.8 352.5 367.4 382.5 409.4 433.0 456.0 474.7 495.5 523.3 548.5 586.2 614.2 222.9 206.2 170.9 153.1 160.2 184.0 226.6 237.9 256.1 239.9 243.4 273.3 302.7 311.9 339.9 393.8 308.7 342.3 1 Data ccoleman on PROD1PC69 with ECOIND Individual income taxes On-budget and off-budget outlays National defense from Final Monthly Treasury Statement for fiscal 2007 released on October 11, 2007. NOTE.—Data for fiscal 2008 are from Mid-Session Review, Budget of the U.S. Government, Fiscal Year 2008, issued July 11, 2007. Other data (except as noted) are from Budget of the United States Government, Fiscal Year 2008, issued February 5, 2007. Sources: Department of the Treasury and Office of Management and Budget. 33 VerDate Aug 31 2005 00:09 Nov 07, 2007 Jkt 038665 PO 00000 Frm 00033 Fmt 3401 Sfmt 3401 E:\HR\OC\ECOIND.033 ECOIND g:\graphics\eecoind.033 Fiscal year or period Social insurance and retirement receipts FEDERAL SECTOR, NATIONAL INCOME ACCOUNTS BASIS In the third quarter of 2007, according to advance estimates, Federal current expenditures rose $38.9 billion; receipts data are incomplete. [Billions of dollars; quarterly data at seasonally adjusted annual rates] Federal Government current receipts Total 1 Personal current taxes 1,030.6 1,116.8 1,195.7 1,313.6 1,252.2 1,075.5 1,070.8 1,152.3 1,362.7 1,537.5 1,100.7 1,139.0 1,159.4 1,209.9 1,321.4 1,351.7 1,362.3 1,415.2 1,488.0 1,521.1 1,555.3 1,585.4 1,619.0 1,671.2 .............. 744.3 825.8 893.0 999.1 994.5 830.5 774.5 797.4 932.4 1,053.2 767.5 785.8 809.6 826.6 897.1 920.4 946.1 966.1 1,022.7 1,032.9 1,057.4 1,099.8 1,138.8 1,159.7 1,179.2 Total Calendar year: 1997 ................. 1998 ................. 1999 ................. 2000 ................. 2001 ................. 2002 ................. 2003 ................ 2004 ................ 2005 ................ 2006 ................ 2004: I ............... II ............. III ............ IV ............ 2005: I ............... II ............. III ............ IV ............ 2006: I ............... II ............. III ............ IV ............ 2007: I ............... II ............. III p .......... 1 Includes ccoleman on PROD1PC69 with ECOIND 2 Includes 1,653.1 1,773.8 1,891.2 2,053.8 2,016.2 1,853.2 1,879.9 2,008.9 2,243.4 2,495.8 1,939.5 1,989.7 2,023.5 2,082.8 2,209.2 2,247.5 2,188.5 2,328.3 2,436.5 2,471.5 2,513.1 2,561.9 2,619.7 2,684.3 .............. Taxes on production and imports 78.2 81.1 83.9 87.8 85.8 87.3 89.7 94.6 99.0 98.6 93.8 94.3 95.1 95.3 96.5 100.7 99.8 98.8 98.7 99.0 99.3 97.2 97.9 98.3 101.4 Taxes on corporate income 203.0 204.2 213.0 219.4 164.7 150.5 197.8 250.3 319.8 373.1 229.7 249.8 246.4 275.3 316.4 320.9 303.5 338.3 356.4 378.6 387.1 370.1 370.3 401.3 .............. 576.4 613.8 651.6 691.7 717.5 734.3 758.9 805.2 849.3 901.6 788.3 799.6 812.1 820.9 836.0 842.6 856.1 862.6 892.8 894.1 900.9 918.8 944.0 952.4 962.5 Federal Government current expenditures Income receipts on assets Current transfer receipts Current surplus of government enterprises 25.9 21.5 21.5 25.2 24.9 20.2 22.9 23.8 24.5 24.7 23.6 23.4 23.9 24.2 24.6 25.5 24.3 23.8 24.2 24.6 24.8 25.4 24.6 25.1 25.1 19.9 21.5 22.7 25.7 27.1 24.8 25.0 28.8 11.6 35.2 27.6 28.5 29.4 29.9 30.5 32.0 ¥48.2 32.2 33.8 34.6 35.5 36.7 38.1 38.5 39.4 .3 .1 ¥.3 ¥2.3 ¥5.5 ¥1.6 2.3 ¥1.2 ¥4.8 ¥3.2 ¥.6 ¥.8 ¥1.4 ¥2.1 ¥3.3 ¥4.2 ¥6.0 ¥5.6 ¥2.3 ¥2.9 ¥3.3 ¥4.3 ¥6.1 ¥3.0 .2 taxes from the rest of the world, not shown separately. a subtraction for wage accruals less disbursements, not shown separately. Total 2 1,708.9 1,734.9 1,787.6 1,864.4 1,969.5 2,101.1 2,252.1 2,379.5 2,561.6 2,715.8 2,350.6 2,363.8 2,385.4 2,418.2 2,507.2 2,535.0 2,582.9 2,621.4 2,656.2 2,711.4 2,752.3 2,743.4 2,838.2 2,876.9 2,915.8 Consumption expenditures 457.7 454.6 475.1 499.3 531.9 591.5 662.7 723.7 768.5 812.8 709.6 721.2 734.6 729.6 759.1 761.7 784.1 769.0 804.8 806.6 813.3 826.4 829.8 849.8 866.3 Current transfer payments 918.8 946.5 986.1 1,038.1 1,131.4 1,243.0 1,328.7 1,390.6 1,479.1 1,576.1 1,382.9 1,383.2 1,382.5 1,413.7 1,460.6 1,462.0 1,483.7 1,510.1 1,539.5 1,571.1 1,594.3 1,599.6 1,665.6 1,670.9 1,693.8 00:09 Nov 07, 2007 Jkt 038665 PO 00000 Frm 00034 Fmt 3401 300.0 298.8 282.7 283.3 258.6 229.1 212.9 221.0 255.9 277.5 216.3 215.3 224.4 227.8 233.5 253.6 255.8 280.5 259.0 284.4 296.7 270.0 296.3 309.4 309.3 Subsidies 32.4 35.0 43.8 43.8 47.6 37.5 47.8 44.2 58.2 49.4 43.3 42.6 43.9 47.2 54.0 57.7 59.2 61.8 52.8 49.3 47.9 47.4 46.6 46.9 46.4 Net Federal Government saving ¥55.8 38.8 103.6 189.5 46.7 ¥247.9 ¥372.1 ¥370.6 ¥318.3 ¥220.0 ¥411.1 ¥374.1 ¥361.9 ¥335.4 ¥298.0 ¥287.5 ¥394.3 ¥293.2 ¥219.6 ¥239.9 ¥239.2 ¥181.5 ¥218.5 ¥192.7 .................... Source: Department of Commerce, Bureau of Economic Analysis. 34 VerDate Aug 31 2005 Interest payments Sfmt 3401 E:\HR\OC\ECOIND.034 ECOIND g:\graphics\eecoind.034 Current tax receipts Period Contributions for government social insurance INTERNATIONAL STATISTICS INDUSTRIAL PRODUCTION AND CONSUMER PRICES—MAJOR INDUSTRIAL COUNTRIES Industrial production (2002=100; seasonally adjusted) Period Italy 153.2 154.2 155.0 157.6 160.2 163.3 166.7 170.3 173.2 176.2 177.1 176.7 176.3 176.5 176.9 137.8 139.1 140.0 142.0 144.8 146.7 148.3 150.8 153.7 156.3 157.0 156.4 156.6 156.4 157.7 218.2 222.5 226.2 231.9 238.3 244.3 250.8 256.3 261.3 266.9 268.3 268.1 267.9 268.1 268.3 2007: Jan r ................... 111.7 102.9 115.6 102.8 116.8 102.3 98.6 202.416 189.1 118.3 176.3 Feb r ................... 112.5 103.9 116.3 104.1 118.1 101.4 98.2 203.499 190.4 117.7 176.6 Mar r ................... 112.4 104.3 116.2 104.3 118.6 101.7 98.5 205.352 192.0 118.1 177.4 Apr r ................... 113.1 104.2 116.5 103.4 117.3 101.1 98.8 206.686 192.9 118.4 178.3 May r .................. 113.0 103.6 115.8 104.2 119.6 101.8 99.3 207.949 193.7 118.8 178.7 June r ................. 113.5 103.6 117.2 103.7 119.6 101.5 99.3 208.352 193.4 118.5 178.9 July r .................. 114.2 103.6 116.3 105.5 119.7 101.8 99.2 208.299 193.5 118.4 178.5 p Aug ................... 114.3 103.8 120.7 105.8 121.7 103.2 99.3 207.917 193.0 119.0 179.2 Sept p .................. 114.4 .............. 119.3 .............. .............. .............. 98.8 208.490 193.4 119.0 179.4 Oct p ................... .............. .............. ............ .............. .............. .............. .............. .................. .............. ............ ............ 157.4 158.0 158.4 159.0 159.3 159.4 160.1 160.0 160.1 160.4 268.5 236.9 269.4 238.6 269.8 240.2 270.2 241.3 271.0 242.3 271.6 243.6 272.2 242.2 272.7 243.6 272.7 244.4 273.7 .............. .............................. .............................. .............................. .............................. .............................. .............................. .............................. .............................. .............................. .............................. Aug .................... Sept r .................. Oct r .................... Nov r ................... Dec r ................... 89.2 94.6 99.1 103.6 100.0 100.0 101.1 103.6 106.9 111.1 112.5 112.2 112.0 111.5 112.2 Canada Japan 86.2 89.2 94.4 102.6 98.4 100.0 r 100.1 r 102.2 r 103.9 r 103.5 103.6 101.6 101.9 101.8 102.3 Germany Consumer prices (1982–84=100; NSA) Germany 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2006: United States France 109.3 102.1 102.4 108.0 101.2 100.0 103.0 108.5 109.8 114.8 115.9 115.1 117.0 117.4 118.8 90.4 93.9 96.1 100.0 101.3 100.0 99.6 102.1 102.3 r 102.7 103.1 102.4 102.3 102.1 103.4 United Kingdom Italy 91.0 94.4 95.5 100.9 101.1 100.0 100.4 103.5 106.9 113.2 115.1 114.6 114.4 116.2 116.6 97.4 98.5 98.4 102.6 101.4 100.0 99.5 99.1 98.4 100.9 101.7 100.7 101.9 102.3 103.6 1 Data relate to all urban consumers. NOTE.—See Note, p. 17, for information on U.S. industrial production series. United States 1 99.2 100.2 101.6 103.5 102.0 100.0 99.7 100.5 98.5 98.5 98.6 99.1 98.3 98.8 98.5 Canada 160.5 163.0 166.6 172.2 177.1 179.9 184.0 188.9 195.3 201.6 203.9 202.9 201.8 201.5 201.8 Japan 156.2 157.8 160.5 164.9 169.0 172.8 177.6 180.9 184.9 188.5 189.7 188.7 188.4 188.7 189.1 121.5 122.2 121.8 121.0 120.1 119.0 118.7 118.7 118.3 118.7 119.2 119.2 119.0 118.4 118.5 France United Kingdom 185.1 191.4 194.3 200.1 203.6 207.0 213.0 219.4 225.6 232.8 234.1 235.1 235.5 236.3 238.2 Source: National sources as reported by Department of Commerce (Bureau of Economic Analysis and International Trade Administration, Office of Trade and Industry Information) and Council of Economic Advisers. U.S. INTERNATIONAL TRADE IN GOODS AND SERVICES [Billions of dollars; monthly data seasonally adjusted] Goods: Exports (f.a.s. value) Goods: Imports (customs value) Census basis (by end-use category) Services (BOP basis) Balance of trade (exports minus imports) Census basis (by end-use category) BOP basis Period 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 BOP basis ............. 678.4 ............. 670.4 ............. 684.0 ............. 772.0 ............. 718.7 ............. 682.4 ............. 713.4 ............. 807.5 ............. 894.6 ............. 1,023.1 ccoleman on PROD1PC69 with ECOIND 2006: Aug ... Sept ... Oct .... Nov .... Dec .... 2007: Jan .... Feb .... Mar ... Apr ... May .. June July r Aug p 87.4 87.8 88.2 88.8 89.5 90.5 88.6 91.1 90.9 93.4 95.0 98.6 99.0 Total, Census basis 1 Auto- ConIndusmo- sumer Foods, trial Capital tive goods feeds, supgoods vehi- (nonand plies except cles, food) bevand auto- parts except erages mate- motive and autorials enmogines tive 689.2 682.1 695.8 781.9 729.1 693.1 724.8 818.8 906.0 1,036.6 51.5 46.4 46.0 47.9 49.4 49.6 55.0 56.6 59.0 66.0 158.2 148.3 147.5 172.6 160.1 156.8 173.0 203.9 233.0 276.0 88.6 89.1 89.5 90.4 91.0 91.7 89.6 92.4 92.2 94.7 96.1 99.8 100.0 5.8 5.7 5.7 5.6 5.9 6.0 6.3 6.0 6.6 6.6 6.6 6.9 7.5 23.5 24.5 24.3 24.0 23.8 23.8 23.7 24.8 25.1 25.8 27.0 26.5 27.4 BOP basis 294.5 74.0 77.4 876.8 299.4 72.4 80.3 918.6 310.8 75.3 80.9 1,031.8 356.9 80.4 89.4 1,226.7 321.7 75.4 88.3 1,148.2 290.4 78.9 84.4 1,167.4 293.7 80.6 89.9 1,264.3 331.4 89.2 103.2 1,477.1 362.3 98.6 116.1 1,681.8 413.9 107.2 130.0 1,861.4 34.9 35.2 35.5 36.1 36.4 36.9 34.8 35.3 34.6 36.5 36.6 38.5 38.3 9.3 8.8 8.8 9.1 9.5 8.9 9.1 9.9 9.8 9.8 9.9 11.3 10.4 11.2 10.9 11.2 11.3 11.4 11.9 11.5 11.8 12.0 12.0 11.9 12.4 12.6 161.6 158.7 153.7 155.0 158.1 155.1 154.1 161.8 158.3 161.9 163.3 166.4 165.5 IndusAutoFoods, trial Capital motive Total, feeds, supgoods vehiCensus and plies except cles, basis 1 bevand auto- parts erages mate- motive and enrials gines Consumer goods (nonfood) except automotive Exports Imports Goods, Census basis Goods Services Goods and services 869.7 911.9 1,024.6 1,218.0 1,141.0 1,161.4 1,257.1 1,469.7 1,673.5 1,853.9 39.7 41.2 43.6 46.0 46.6 49.7 55.8 62.1 68.1 74.9 213.8 200.1 221.4 299.0 273.9 267.7 313.8 412.8 523.8 602.0 253.3 269.5 295.7 347.0 298.0 283.3 295.9 343.6 379.3 418.3 139.8 148.7 179.0 195.9 189.8 203.7 210.1 228.2 239.5 256.7 193.8 217.0 241.9 281.8 284.3 307.8 333.9 372.9 407.2 442.6 256.1 262.8 281.9 298.6 286.2 292.3 304.3 349.7 388.4 422.6 165.9 180.7 199.2 223.7 221.8 231.1 250.4 292.2 315.7 342.8 ¥180.5 ¥229.8 ¥328.8 ¥436.1 ¥411.9 ¥468.3 ¥532.4 ¥650.9 ¥767.5 ¥817.3 ¥198.4 ¥248.2 ¥347.8 ¥454.7 ¥429.5 ¥485.0 ¥550.9 ¥669.6 ¥787.1 ¥838.3 90.2 82.1 82.7 74.9 64.4 61.2 54.0 57.5 72.8 79.7 ¥108.3 ¥166.1 ¥265.1 ¥379.8 ¥365.1 ¥423.7 ¥496.9 ¥612.1 ¥714.4 ¥758.5 160.9 158.1 153.0 154.4 157.5 154.5 153.5 160.3 157.1 160.7 162.7 165.3 164.5 6.4 6.4 6.4 6.4 6.5 6.6 6.6 6.8 6.6 6.8 6.7 6.9 7.0 55.0 51.9 46.8 46.9 48.3 48.0 44.5 49.7 50.2 52.5 52.8 53.9 53.2 35.8 35.8 35.5 35.7 35.7 36.5 36.7 36.2 35.7 36.6 37.2 37.2 37.5 21.3 21.2 21.1 21.4 22.6 20.4 20.8 22.1 21.1 20.5 21.5 22.6 22.2 37.4 37.9 38.1 38.8 39.3 38.2 39.7 40.4 38.7 39.2 39.2 39.5 39.3 35.2 35.5 36.4 37.1 37.6 37.1 37.1 37.9 38.2 39.0 39.1 39.1 39.4 28.6 28.8 29.1 29.3 29.3 29.5 29.5 29.8 29.5 30.1 30.2 30.4 30.4 ¥72.4 ¥69.0 ¥63.6 ¥64.0 ¥66.6 ¥62.8 ¥64.0 ¥67.9 ¥64.8 ¥66.0 ¥66.6 ¥65.5 ¥64.5 ¥74.3 ¥70.9 ¥65.5 ¥66.3 ¥68.6 ¥64.6 ¥65.5 ¥70.7 ¥67.3 ¥68.5 ¥68.4 ¥67.8 ¥66.6 6.7 6.7 7.3 7.8 8.3 7.6 7.6 8.1 8.7 8.9 9.0 8.8 9.0 ¥67.6 ¥64.1 ¥58.2 ¥58.5 ¥60.3 ¥57.0 ¥57.9 ¥62.7 ¥58.6 ¥59.6 ¥59.4 ¥59.0 ¥57.6 1 Total includes ‘‘other’’ exports or imports, not shown separately. NOTE.—BOP refers to balance of payments on international transactions basis. BOP data shown here are consistent with figures shown on pp. 36 and 37. Source: Department of Commerce (Bureau of the Census and Bureau of Economic Analysis). 35 VerDate Aug 31 2005 00:09 Nov 07, 2007 Jkt 038665 PO 00000 Frm 00035 Fmt 3401 Sfmt 3401 E:\HR\OC\ECOIND.035 ECOIND U.S. INTERNATIONAL TRANSACTIONS In the second quarter of 2007, the goods deficit rose to $204.2 billion, from $200.9 billion in the first quarter. The current account deficit fell to $190.8 billion in the second quarter, from $197.1 billion in the first quarter. [Millions of dollars; quarterly data seasonally adjusted. Credits (+), debits (¥)] Period Exports Balance on goods Net military transactions 2 Net travel and transportation Income receipts and payments Other services, net Balance on goods and services Receipts Payments Balance on income Unilateral current transfers, net 3 Balance on current account .............. .............. .............. .............. .............. .............. .............. .............. .............. .............. 678,366 670,416 683,965 771,994 718,712 682,422 713,415 807,516 894,631 1,023,109 ¥876,794 ¥918,637 ¥1,031,784 ¥1,226,684 ¥1,148,231 ¥1,167,377 ¥1,264,307 ¥1,477,094 ¥1,681,780 ¥1,861,380 ¥198,428 ¥248,221 ¥347,819 ¥454,690 ¥429,519 ¥484,955 ¥550,892 ¥669,578 ¥787,149 ¥838,271 4,968 5,220 2,593 317 ¥2,296 ¥7,158 ¥11,981 ¥13,518 ¥10,536 ¥13,942 22,152 10,210 7,085 2,486 ¥3,254 ¥4,245 ¥11,475 ¥14,275 ¥12,945 ¥10,636 63,035 66,651 73,051 72,052 69,943 72,633 77,433 85,279 96,259 104,327 ¥108,273 ¥166,140 ¥265,090 ¥379,835 ¥365,126 ¥423,725 ¥496,915 ¥612,092 ¥714,371 ¥758,522 256,804 261,819 293,925 350,918 290,797 281,215 320,568 401,942 505,488 650,462 ¥244,195 ¥257,554 ¥280,037 ¥329,864 ¥259,075 ¥253,544 ¥275,147 ¥345,585 ¥457,430 ¥613,823 12,609 4,265 13,888 21,054 31,722 27,671 45,421 56,357 48,058 36,640 ¥45,062 ¥53,187 ¥50,428 ¥58,645 ¥51,295 ¥63,587 ¥70,607 ¥84,414 ¥88,535 ¥89,595 ¥140,726 ¥215,062 ¥301,630 ¥417,426 ¥384,699 ¥459,641 ¥522,101 ¥640,148 ¥754,848 ¥811,477 2004: I ......... II ....... III ...... IV ...... 194,110 200,045 203,835 209,526 ¥345,176 ¥365,168 ¥373,498 ¥393,252 ¥151,066 ¥165,123 ¥169,663 ¥183,726 ¥3,018 ¥3,317 ¥3,464 ¥3,719 ¥3,199 ¥3,443 ¥3,831 ¥3,803 21,246 21,281 20,356 22,396 ¥136,036 ¥150,603 ¥156,603 ¥168,852 93,308 ¥74,241 97,581 ¥84,294 102,741 ¥86,938 108,311 ¥100,112 19,067 13,287 15,803 8,199 ¥22,972 ¥21,371 ¥17,273 ¥22,799 ¥139,941 ¥158,687 ¥158,073 ¥183,452 2005: I ......... II ....... III ...... IV ...... 214,391 223,068 224,320 232,852 ¥398,781 ¥411,592 ¥423,638 ¥447,769 ¥184,390 ¥188,524 ¥199,318 ¥214,917 ¥2,724 ¥2,699 ¥2,211 ¥2,902 ¥4,140 ¥2,769 ¥2,858 ¥3,179 24,612 23,321 23,436 24,889 ¥166,641 ¥170,670 ¥180,952 ¥196,109 115,351 121,333 129,873 138,931 ¥102,877 ¥109,529 ¥113,308 ¥131,716 12,474 11,804 16,565 7,215 ¥28,225 ¥24,372 ¥9,019 ¥26,915 ¥182,392 ¥183,238 ¥173,406 ¥215,809 2006: I ......... II ....... III ...... IV ...... 243,880 252,458 260,285 266,486 ¥451,637 ¥463,734 ¥479,184 ¥466,825 ¥207,757 ¥211,276 ¥218,899 ¥200,339 ¥3,195 ¥3,549 ¥3,888 ¥3,310 ¥3,075 ¥3,111 ¥2,456 ¥1,995 24,315 25,359 25,936 28,718 ¥189,712 ¥192,577 ¥199,307 ¥176,926 148,391 162,020 167,026 173,025 ¥137,929 ¥151,352 ¥161,177 ¥163,365 10,462 10,668 5,850 9,661 ¥21,360 ¥23,686 ¥23,877 ¥20,673 ¥200,611 ¥205,595 ¥217,334 ¥187,938 2007: I ........ II p ..... 270,116 279,339 ¥470,983 ¥483,552 ¥200,867 ¥204,213 ¥3,665 ¥3,931 ¥1,711 544 28,662 ¥177,581 29,913 ¥177,688 176,213 ¥168,735 191,009 ¥181,654 7,478 9,355 ¥26,994 ¥22,457 ¥197,097 ¥190,790 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 ccoleman on PROD1PC69 with ECOIND Imports Services 1 Adjusted from Census data for differences in timing and coverage; excludes military. under U.S. military agency sales contracts (exports) minus direct defense expenditures (imports). 2 Transfers 3 Includes transfers of goods and services under U.S. military grant programs. See p. 37 for continuation of table. 36 VerDate Aug 31 2005 00:09 Nov 07, 2007 Jkt 038665 PO 00000 Frm 00036 Fmt 3401 Sfmt 3401 E:\HR\OC\ECOIND.036 ECOIND g:\graphics\eecoind.036 Goods 1 U.S. INTERNATIONAL TRANSACTIONS—Continued In the financial account, U.S. claims on foreigners reported by U.S. banks increased $203.9 billion in the second quarter of 2007, following an increase of $233.4 billion in the first quarter. U.S. liabilities to private foreigners reported by U.S. banks, excluding Treasury securities, increased $137.8 billion in the second quarter, following an increase of $203.6 billion in the first quarter. [Millions of dollars; quarterly data seasonally adjusted. Credits (+), debits (¥)] Financial account 1997 ............................... 1998 ............................... 1999 ............................... 2000 ............................... 2001 ............................... 2002 ............................... 2003 ............................... 2004 ............................... 2005 ............................... 2006 ............................... 2004: I .......................... II ........................ III ....................... IV ....................... 2005: I .......................... II ........................ III ....................... IV ....................... 2006: I .......................... II ........................ III ....................... IV ....................... 2007: I ......................... II p ...................... U.S.-owned assets abroad, net [increase/financial outflow (¥)] Total ¥1,027 ¥485,475 ¥766 ¥353,829 ¥4,939 ¥504,062 ¥1,010 ¥560,523 ¥1,270 ¥382,616 ¥1,470 ¥294,646 ¥3,480 ¥325,424 ¥2,369 ¥905,024 ¥4,054 ¥426,875 ¥3,913 ¥1,055,176 ¥487 ¥319,682 ¥427 ¥147,854 ¥952 ¥152,663 ¥503 ¥284,826 ¥2,598 ¥86,619 ¥512 ¥213,305 ¥473 ¥141,628 ¥472 14,678 ¥1,724 ¥344,032 ¥1,008 ¥212,218 ¥545 ¥209,898 ¥637 ¥289,028 ¥559 ¥449,454 ¥589 ¥469,470 U.S. official reserve assets 4 ¥1,010 ¥6,783 8,747 ¥290 ¥4,911 ¥3,681 1,523 2,805 14,096 2,374 557 1,122 429 697 5,331 ¥797 4,766 4,796 513 ¥560 1,006 1,415 ¥72 26 Other U.S. Government assets Statistical discrepancy Foreign-owned assets in the U.S., net [increase/financial inflow (+)] U.S. private assets 68 ¥484,533 ¥422 ¥346,624 2,750 ¥515,559 ¥941 ¥559,292 ¥486 ¥377,219 345 ¥291,310 537 ¥327,484 1,710 ¥909,539 5,539 ¥446,510 5,346 ¥1,062,896 727 ¥320,966 ¥2 ¥148,974 484 ¥153,576 501 ¥286,024 2,591 ¥94,541 989 ¥213,497 1,501 ¥147,894 459 9,423 1,049 ¥345,594 1,765 ¥213,423 1,570 ¥212,474 962 ¥291,405 445 ¥449,827 ¥493 ¥469,003 4 Consists of gold, special drawing rights (SDRs), foreign currencies, and the U.S. reserve position in the International Monetary Fund (IMF). Total 706,809 423,569 740,210 1,046,896 782,859 797,813 864,352 1,461,766 1,204,231 1,859,597 441,606 313,790 255,885 450,485 232,614 310,822 383,808 276,987 538,140 355,442 449,987 516,029 616,602 620,405 Foreign official assets 19,036 ¥19,903 43,543 42,758 28,059 115,945 278,069 397,755 259,268 440,264 147,636 79,949 76,120 94,050 25,052 81,292 54,736 98,188 125,257 120,861 108,799 85,347 152,193 70,098 Other foreign assets Total (sum of the items with sign reversed) 687,773 443,472 696,667 1,004,138 754,800 681,868 586,283 1,064,011 944,963 1,419,333 293,970 233,841 179,765 356,435 207,562 229,530 329,072 178,799 412,883 234,581 341,188 430,682 464,409 550,307 ¥79,581 146,088 70,421 ¥67,937 ¥14,274 ¥42,056 ¥13,348 85,775 ¥18,454 ¥17,794 18,505 ¥6,823 55,802 18,295 38,995 86,234 ¥68,302 ¥75,384 6,593 49,378 ¥37,121 ¥36,643 15,708 40,444 Of which: Seasonal adjustment discrepancy .................. .................. .................. .................. .................. .................. .................. .................. .................. .................. 8,467 ¥1,889 ¥13,383 6,809 12,335 ¥3,620 ¥18,362 9,644 9,958 ¥252 ¥15,973 6,267 11,335 ¥1,080 U.S. official reserve assets, net 4 (unadjusted, end of period) 69,954 81,761 71,516 67,647 68,654 79,006 85,938 86,824 65,127 65,895 85,192 82,652 82,578 86,824 78,942 76,594 71,273 65,127 65,354 67,935 66,217 65,895 66,551 66,127 Sources: Department of Commerce (Bureau of Economic Analysis) and Department of the Treasury. 37 VerDate Aug 31 2005 00:09 Nov 07, 2007 Jkt 038665 PO 00000 Frm 00037 Fmt 3401 Sfmt 3401 E:\HR\OC\ECOIND.037 ECOIND g:\graphics\eecoind.037 ccoleman on PROD1PC69 with ECOIND Period Capital account transactions, net Contents Page TOTAL OUTPUT, INCOME, AND SPENDING Gross Domestic Product .......................................................................................................................................................................................... Real Gross Domestic Product .................................................................................................................................................................................. Implicit Price Deflators for Gross Domestic Product .............................................................................................................................................. Gross Domestic Product and Related Price Measures: Indexes and Percent Changes .............................................................................................. Nonfinancial Corporate Business—Gross Value Added and Price, Costs, and Profits ............................................................................................. National Income ...................................................................................................................................................................................................... Real Personal Consumption Expenditures ............................................................................................................................................................... Sources of Personal Income ...................................................................................................................................................................................... Disposition of Personal Income ............................................................................................................................................................................... Farm Income ............................................................................................................................................................................................................ Corporate Profits ...................................................................................................................................................................................................... Real Gross Private Domestic Investment ................................................................................................................................................................ Real Private Fixed Investment by Type .................................................................................................................................................................. Business Investment ................................................................................................................................................................................................ 1 2 2 3 3 4 4 5 6 7 8 9 10 10 EMPLOYMENT, UNEMPLOYMENT, AND WAGES Status of the Labor Force ......................................................................................................................................................................................... Selected Unemployment Rates ................................................................................................................................................................................ Selected Measures of Unemployment and Unemployment Insurance Programs ...................................................................................................... Nonagricultural Employment .................................................................................................................................................................................. Average Weekly Hours, Hourly Earnings, and Weekly Earnings—Private Nonagricultural Industries ................................................................. Employment Cost Index—Private Industry ............................................................................................................................................................. Productivity and Related Data, Business Sector ...................................................................................................................................................... 11 12 13 14 15 15 16 PRODUCTION AND BUSINESS ACTIVITY Industrial Production and Capacity Utilization ....................................................................................................................................................... Industrial Production—Major Market Groups and Selected Manufactures .............................................................................................................. New Construction .................................................................................................................................................................................................... New Private Housing and Vacancy Rates ............................................................................................................................................................... Business Sales and Inventories—Manufacturing and Trade ..................................................................................................................................... Manufacturers’ Shipments, Inventories, and Orders ................................................................................................................................................. 17 18 19 19 20 21 PRICES Producer Prices ........................................................................................................................................................................................................ Consumer Prices—All Urban Consumers ................................................................................................................................................................ Changes in Producer Prices for Finished Goods ...................................................................................................................................................... Changes in Consumer Prices—All Urban Consumers ............................................................................................................................................. Prices Received and Paid by Farmers ...................................................................................................................................................................... 22 23 24 24 25 MONEY, CREDIT, AND SECURITY MARKETS Money Stock and Debt Measures ............................................................................................................................................................................. Components of Money Stock ................................................................................................................................................................................... Aggregate Reserves and Monetary Base ................................................................................................................................................................... Bank Credit at All Commercial Banks .................................................................................................................................................................... Sources and Uses of Funds, Nonfarm Nonfinancial Corporate Business .................................................................................................................. Consumer Credit ...................................................................................................................................................................................................... Interest Rates and Bond Yields ............................................................................................................................................................................... Common Stock Prices and Yields ............................................................................................................................................................................ 26 27 27 28 29 29 30 31 FEDERAL FINANCE Federal Receipts, Outlays, and Debt ....................................................................................................................................................................... Federal Receipts by Source and Outlays by Function .............................................................................................................................................. Federal Sector, National Income Accounts Basis ..................................................................................................................................................... 32 33 34 INTERNATIONAL STATISTICS Industrial Production and Consumer Prices—Major Industrial Countries ............................................................................................................... U.S. International Trade in Goods and Services ...................................................................................................................................................... U.S. International Transactions ................................................................................................................................................................................ 35 35 36 ccoleman on PROD1PC69 with ECOIND General Notes Detail in these tables may not add to totals because of rounding. Unless otherwise noted, all dollar figures are in current dollars. Symbols used: p Preliminary. r Revised. c Corrected. … Not available (also, not applicable). NSA not seasonally adjusted. For sale by the Superintendent of Documents, U.S. Government Printing Office, Washington, D.C. 20402. Price $5.00 (single copy) ($7.00 foreign). Subscription price: $58.00 per year; $81.20 for foreign mailing. 38 VerDate Aug 31 2005 U.S. GOVERNMENT PRINTING OFFICE : 2007 38–665 00:09 Nov 07, 2007 Jkt 038665 PO 00000 Frm 00038 Fmt 3438 Sfmt 3438 E:\HR\OC\ECOIND.038 ECOIND
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