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HANDBOOK

a

CYCLICAL
INDICATORS
a supplement to the Business Conditions Digest

I
U.S. DEPARTMENT OF COMMERCE
Bureau of Economic Analysis

1984




HANDBOOK

OF

CYCLICAL
INDICATORS
a supplement to the Business Conditions Digest

U.S. DEPARTMENT OF COMMERCE
Secretary/Malcolm Baldrige
Under Secretary for Economic Affairs/Sidney L. Jones
BUREAU OF ECONOMIC ANALYSIS
Director/George Jaszi
Deputy Director/Allan H. Young

1984

Acknowledgments
THIS Handbook was prepared by the Statistical Indicators Division under the direction of
Feliks Tamm, Chief. Staff members with major responsibilities were—
Barry A. Beckman—Technical supervision and review
Betty F. Tunstall—Series descriptions
Brian D. Kajutti—Composite indexes
Kurt Kunze—Analytical measures and historical data
Other staff members who made contributions were Robert J. McCahill, Tracy R. Tapscott,
Amy M. Wu, and Mary D. Young.
Lisa Boone, Velma P. Henry, Gail James, Carolyn M. Malady, Patricia S. Pearson, Doris
M. Perrie, and Sarah M. Warren provided valuable help.
Marie P. Hertzberg, Special Assistant to the Associate Director for National Analysis and
Projections, researched, reviewed, and edited the series descriptions.
Victor Zarnowitz of the University of Chicago provided comments and advice.
Sybella G'Schwend provided editorial services.
Thelma J. Pearson, Linda L. Richardson, and Denise McBride efficiently prepared the
text for electronic typesetting.
The cooperation of Government and private agencies that provided data and informa­
tion is gratefully acknowledged. These agencies are identified in the series descriptions.

ii



The Handbook of Cyclical Indicators

HC
101
. A135
1984
c. 1

Table of Contents
Page

I.

Introduction
Contents
How To Find a Series

1
1
2

Series Descriptions
Composite Indexes

3
5

Employment Hours, and Earnings
Labor Turnover
Insured Unemployment
Help-Wanted Advertising
Employment, Unemployment, and Labor Force

BCD 1984



5
7
8
9
9

Personal Income
Industrial Production
Goods Output
Capacity Utilization

11
12
13
13

New and Unfilled Orders
Vendor Performance
Manufacturing and Trade Inventories and Sales
Retail Sales
Consumer Sentiment

15
17
17
20
20

Business Formation
Contracts and Orders for Plant and Equipment
Capital Appropriations, Manufacturing
New Plant and Equipment Expenditures
Housing Starts and Permits

21
21
22
23
24

Spot Market Prices
Sensitive Materials Prices
Stock Prices
Corporate Profits
Profits Per Dollar of Sales
Price Per Unit of Labor Cost
Labor Cost Per Unit of Output

25
25
25
26
27
28
28

Money Supply Measures
Business and Consumer Borrowing
Mortgage Debt
Commercial and Industrial Loans
Consumer Installment Credit
Total Private Borrowing
Liabilities of Business Failures
Delinquent Loans
Bank Reserves
Interest Rates
Dun & Bradstreet Diffusion Indexes

29
31
31
32
33
34
34
34
35
35
37

Gross National Product
Personal Consumption Expenditures
Gross Private Domestic Investment
Government Purchases of Goods and Services
Exports and Imports of Goods and Services
National Income
Compensation of Employees
Proprietors' Income
Rental Income of Persons

38
39
40
43
44
46
46
47
47

iii

Page

S£ries_QescriDtions—Continued
Net Interest
Gross Saving
Personal Saving
Government Saving

II.

47
48
48
48

.-

Fixed-Weighted Price Index
Consumer Prices
Producer Prices

49
49
50

Output Per Hour
Wage and Benefit Decisions

52
53

Government Receipts and Expenditures, National Income and Product Accounts
Defense Department Obligations
Defense Department Prime Contract Awards
Defense Department Personnel
Defense Department Outlays

53
55
55
56
56

Foreign Trade
International Transactions

56
57

Industrial Production—International
Consumer Prices—International
Stock Prices—International

58
60
63

Composite Indexes of Leading, Coincident, and Lagging Indicators: A Brief Explanation
of Their Construction
Table 1. Classification of Composite Index Components by Economic Process
Table 2. Standardization Factors and Weights for Composite Index Components
Table 3. Standardization Factors and Weights for Leading Indicator Subgroups
Table 4. Index Standardization Factors, 1948-81
Table 5. Target Trend Computation
Table 6. Trend Adjustment Factors

65
66
67
68
68
68
69

III.

Historical Data, 1947-82

71

IV.

Reference Materials
Table 7. Cyclical Indicators: Series Scores
Table 8. Cyclical Indicators: Average Timing at Peaksjroughs, and All Turns
Table 9A. Measures of Variability: Monthly Series
Table 9B. Measures of Variability: Quarterly Series
Table 10. U.S. Business Cycles: Reference Dates and Duration
Bibliography
Source Agencies
Series Finding Guides
Alphabetical Index
Numerical Index

iv



167
169
172
174
176
178
180
182
183
184
189

The Handbook of Cyclical Indicators

INTRODUCTION
THIS second edition of the Handbook of Cyclical Indicators is a revised and updated
volume that replaces the 1977 publication of the same name. It is designed to collect in a
single reference volume useful information on about 300 economic time series in the
monthly Business Conditions Digest (BCD).

Contents
The special emphasis of BCD and thus of its supplement, the Handbook, is on the
cyclical indicators approach to economic analysis and forecasting. This approach identi­
fies certain economic time series as tending to lead, coincide with, or lag behind broad
movements in aggregate economic activity. These series are called cyclical indicators.
The first formal list of cyclical indicators was published by the National Bureau of Econom­
ic Research (NBER) in 1938. NBER published revised lists of cyclical indicators in 1950,
1961, and 1967.
A comprehensive review of the cyclical indicators was completed by the Bureau of
Economic Analysis (BEA) in 1975 with the cooperation of the NBER staff.1 The present
content and format of BCD are based on the results of that review. In its part I, BCD
shows the cyclical indicators, including the composite indexes, classified by typical timing
at cyclical peaks, troughs, and all turns, and by economic process. In addition, in its part II,
BCD shows other important economic measures, which cover a wide range of quarterly
and monthly time series. Some of these relate to the U.S. economy as a whole, others to
particular sectors or markets, and yet others to U.S. international transactions or to
selected countries. The Handbook provides, in separate parts, descriptive information
about these series, an explanation of the composite indexes of cyclical indicators, histori­
cal data, and selected reference materials. The contents of these four basic parts are as
follows:
Series descriptions.—The brief descriptions in this part provide definitions and meth­
odologies for the series shown regularly in BCD. More detailed information on the various
series is available from the source agency, which is identified for each series.
Composite indexes.—For the composite indexes of cyclical indicators, which are pre­
pared by BEA, a step-by-step explanation of their construction is provided. The weights,
standardization factors, and trend adjustments are included so that the user can dupli­
cate the BEA indexes.
Historical data.—The tables in this part contain data for 1947 through 1982. The data
shown are those available for the July 1983 issue of BCD. More recent data can be found
in current issues of BCD.
Selected reference materials.—Three tables in this part provide measures of characteris­
tics of the series, especially the cyclical indicators, that appear in BCD; a fourth table
provides dates and duration of business cycles.
Table 7. Cyclical Indicators: Series Scores is based on the cyclical indicators scoring
system. This system provides numerical scores for each of the seven criteria used to
evaluate economic time series. These scores are weighted and summed to three total
scores—one for peaks, one for troughs, and one for all turns. The table lists scores for
the individual cyclical indicators and composite indexes shown in part I of BCD.

BCD 1984



1

Table 8. Cyclical Indicators: Average Timing at Peaks, Troughs, and All Turns is included
because the length and consistency of the cyclical indicators' leads and lags at business
cycle turning points are especially important in analyzing the indicators' performance.
The table lists the medians, means, and standard deviations of the leads and lags at
peaks, at troughs, and at all turns for the individual cyclical indicators and composite
indexes shown in part I of BCD.
Table 9. Measures of Variability is included because a smooth series is preferable, other
things being equal, to an erratic one. Measures of smoothness based on the relationship
between the irregular and cyclical components for each series are shown in table 9A for
monthly series and in table 9B for quarterly series.
Table 10. U.S. Business Cycles: Reference Dates and Duration lists the business cycle
peak and trough dates designated by NBER.
A selected bibliography relating to cyclical indicators is provided; reprints and other
materials available from BEA are noted. Finally, addresses are provided for source agen­
cies from which more information can be obtained about the time series they prepare.

How To Find a Series
To find either a series description or a set of historical data, users of the Handbook
may need to refer first to the alphabetical index at the back of the volume. That index is
arranged by subject or key word or phrase in a series title. For example, the index lists
'Inventories" and below that lists the various inventory series—series in current and
constant dollars, level and change series, and inventories by type. The listing for each
series indicates the pages on which the series description and the historical data begin.
The numerical index facilitates quick reference if a series number is known—the charts
and tables in BCD identify the series by number—or if a series number is referred to in the
Handbook. For example, in the Handbook's descriptions of series that are percentages of
national income, the series number for national income, 220, is given; it could be used with
the numerical index to find quickly the description or historical data for that series. The
listings in the numerical index also indicate the year each series begins.

Footnote to Introduction
1
The results of the review were discussed in two articles by Victor Zarnowitz and Charlotte Boschan: "Cyclical
Indicators: An Evaluation and New Leading Indexes" and "New Composite Indexes of Coincident and Lagging
Indicators" in the May 1975 and November 1975 issues of BCD. The articles also were included in the 1977
edition of the Handbook; reprints are available from BEA.

2



The Handbook of Cyclical Indicators

I. SERIES DESCRIPTIONS
THIS part contains brief descriptions of the economic time series shown in BCD. The
format in which the descriptions are presented is illustrated below. The descriptions
provide information on definitions, coverage, and methodologies. They also note any
breaks in the series due to changes in coverage or definition over time. In general, as in
BCD, the cyclical indicators are presented first, by economic process, and other impor­
tant economic measures are presented next, by category. However, this order is modified
to group together series with common origins. For example, series obtained from a single
survey are grouped together under the general subject of the survey. In these cases, a
general description of the group is given first, followed by separate descriptions of the
individual series. Sources for the series are listed; more detailed information may be
obtained from them.

MONEY SUPPLY MEASURES
Group (as listed in table of contents)

Series 85. Change in Money Supply M l
Series 102. Change in Money Supply M2
Series numbers

Series 104. Change in Total Liquid Assets

(for identification only)

Series 105. Money Supply M l in 1972 M a r s

Series titles (key words and phrases

Series 106. Money Supply M2 in 1972 M a r s

are listed in alphabetical index)

Series 107. Ratio, Gross National Product to Money Supply M l
Series 108. Ratio, Personal Income to Money Supply M2
Source agency

Source: Board of Governors of the Federal Reserve System; U.S. Department

(addresses are listed

of Commerce, Bureau of Economic Analysis

on p. 182)
(Data contained in these series are seasonally adjusted.)

-*-

Statement about whether data
are seasonally adjusted

General description of

The different money supply measures are popularly known by the

the group

abbreviations M l , M2, etc. The money supply series shown in BCD a r e . . . .
In BCD, these series appear under the economic process "money and credit."

Classification in BCD (for cyclical
indicators, by economic process; for
other series, by category)

Description of the series

SERIES 85 is based on the M l version of money supply. It is derived by com­
puting month-to-month percent changes in the seasonally adjusted data for
ML...

Seasonal Adjustment
Most of the time series in BCD are seasonally adjusted to remove the effects of
repetitive intrayear fluctuations—such as those due to weather, tax payment dates,
automobile new-model introduction dates, and holidays. This adjustment often is neces­
sary to bring out the underlying cyclical and short-term movements in a series. Holiday
variations usually are accounted for by the seasonal adjustment process; however, holi­
days with variable dates (such as Easter) may require a separate holiday adjustment.
Working- or trading-day adjustments are required for series that contain considerable
variation due to the number of working or trading days in each reporting period.

BCD 1984



In the series descriptions, a parenthetical note that states whether a series is adjusted
follows the series title and source. The source agency calculated the adjusted series
unless otherwise noted in the series description. In the cases in which the seasonal
adjustment was done by BEA, the ratio-to-moving-average method described in Bureau
of the Census Technical Paper No. 15, The X-ll Variant of the Census Method II Seasonal
Adjustment Program, was used.

Diffusion Indexes and Rates of Change
Many series in BCD are aggregates consisting of numerous components. A diffusion
index summarizes how the individual components of an aggregate move over a given
timespan: It indicates the percentage of components that are rising (with half of the
unchanged components counted as rising). Because diffusion indexes computed over
short spans are highly erratic, they are computed from changes over 6- or 9-month (or
4-quarter) spans in addition to 1-month (or 1-quarter) spans. Longer spans help to
highlight the trends underlying the shorter term fluctuations. Diffusion indexes are shown
for the component series included in each of the major composite indexes and for the
components of some other series, such as industrial production, stock prices, and ex­
penditures for new plant and equipment.
BCD also shows rates of change for a number of series, including the major composite
indexes and other important indicators of economic activity. Rates of change are shown
for 1- and 3- or 6-month spans or for 1- and 4-quarter spans.
Although movements in diffusion indexes and in rates of change for the same aggregate
generally are positively correlated, these two measures provide information about relat­
ed but distinct aspects of economic change. Diffusion indexes measure only the direction,
not the magnitude, of change in the components of the aggregate. Thus, diffusion indexes
indicate how widespread a direction of movement is among the components. Rates of
change measure the magnitude and direction of change in the aggregate series.

4



The Handbook of Cyclical Indicators

COMPOSITE INDEXES
Series 910.

Composite Index of Twelve Leading Indi
cators (Includes Series 1, 5, 8, 12, 19, 20
29f 32, 36, 99,106, and 111)
Series 920. Composite Index of Four Roughly Coin
cident Indicators (Includes Series 4 1 , 47
51, and 57)
Series 930. Composite Index of Six Lagging Indica
tors (Includes Series 62, 77, 9 1 , 95, 101
and 109)
Series 940. Ratio, Coincident Composite Index (Series
920) to Lagging Composite Index (Series
930)
Series 913. Composite Index of Marginal Employment
Adjustments (Includes Series 1, 2, 3, and
5)
Series 914. Composite Index of Capital Investment
Commitments (Includes Series 12, 20,
and 29)
Series 915. Composite Index of Inventory Investment
and Purchasing (Includes Series 8, 32,
36, and 99)
Series 916. Composite Index of Profitability (Includes
Series 19, 26, and 80)
Series 917. Composite Index of Money and Financial
Flows (Includes Series 104,106, and 111)
Series 950. Diffusion Index of Twelve Leading Indi­
cator Components
Series 951. Diffusion Index of Four Roughly Coinci­
dent Indicator Components
Series 952. Diffusion Index of Six Lagging Indicator
Components
Source: U.S. Department of Commerce, Bureau of
Economic Analysis
(With the exception of series 19, 32, and 109, the com­
ponents of these indexes are based on seasonally adjust­
ed data. Series 913 is not available after December
1981, because the U.S. Department of Labor, Bureau
of Labor Statistics discontinued the collection of
components—series 2 and 3—at that date.)
SEE part II for a brief explanation of the composite
indexes and their method of construction.
In BCD, series 910 (its subgroups—series 913, 914,
915, 916, and 917), series 920, and series 930 appear
under the category "composite indexes."

920, and 930, respectively, that rise. The rises are
shown over 1- and 6-month spans. Series 5 (a compo­
nent of series 910) and series 91 (a component of
series 930) are inversely related to broad movements
in aggregate economic activity. Therefore, in the diffu­
sion indexes, the directions of change are reversed.
A description of diffusion indexes is shown at the
beginning of this part of the Handbook.
In BCD, series 950, 951, and 952 appear under the
category "diffusion indexes."

EMPLOYMENT, HOURS, AND EARNINGS
Series 41.
Series 40.

Employees on Nonagricultural Payrolls
Employees on Nonagricultural Payrolls,
Goods-Producing Industries
Series 48.
Employee Hours in Nonagricultural Es­
tablishments
Series 21.
Average Weekly Overtime Hours of Pro­
duction or Nonsupervisory Workers, Man­
ufacturing
Series 1.
Average Weekly Hours of Production or
Nonsupervisory Workers, Manufacturing
Series 570. Employment, Defense Products Industries
Series 961.
Diffusion Index of Average Weekly Hours
of Production or Nonsupervisory Workers,
20 Manufacturing Industries
Series 963. Diffusion Index of Employees on Private
Nonagricultural Payrolls, 172-186 Indus­
tries
Series 340. Index of Average Hourly Earnings of Pro­
duction or Nonsupervisory Workers on
Private Nonagricultural Payrolls
Series 340c. Percent Change in Average Hourly Earn­
ings of Production or Nonsupervisory
Workers on Private Nonagricultural Pay­
rolls
Series 341. Index of Real Average Hourly Earnings of
Production or Nonsupervisory Workers
on Private Nonagricultural Payrolls
Series 341c. Percent Change in Real Average Hourly
Earnings of Production or Nonsupervisory
Workers on Private Nonagricultural Pay­
rolls
Source: U.S. Department of Labor, Bureau of Labor
Statistics; U.S. Department of Commerce,
Bureau of Economic Analysis
(Data contained in these series are seasonally adjusted.)

SERIES 940 is an index (1967=100) computed by dividing
the coincident composite index by the lagging composite
index, and expressing the results as percents.
In BCD, series 940 appears under the category "com­
posite indexes."

SERIES 950, 9 5 1 , and 952 are diffusion indexes that
measure the percent of the components of series 910,

BCD 1984



DATA for these series are obtained from the estab­
lishment survey conducted each month by the Bureau
of Labor Statistics (BLS). An establishment is defined
as an economic unit—such as a factory, mine, or store—
that produces goods or services. It is generally at a
single physical location and is engaged predominantly
in one type of economic activity. Where a single physical
location encompasses two or more distinct and sepa­
rate activities, these activities are treated as separate

5

establishments, provided separate payroll records are
available.
The data are primarily from payroll records voluntarily
reported each month to State employment security
agencies by employers in the 50 States and the District
of Columbia. These data relate to the payroll period
that includes the 12th of the month; however, data for
the Federal Government represent positions occupied
on the last day of the calendar month.
Data include full-time, part-time, temporary, and
permanent workers. Workers who are on paid leave
(such as sick, holiday, or vacation) and persons who
worked during a part of the pay period are included.
Persons on the payroll of more than one establishment
are counted each time they are reported. Persons on a
nonpay status for the entire period due to layoff, strike, or
leave without pay; the self-employed, unpaid volun­
teer and family workers; farm and domestic workers;
and noncivilian Government employees are excluded.

SERIES 41 measures the number of persons employed
in nonagricultural establishments. The industries includ­
ed are mining; construction; manufacturing; transpor­
tation and public utilities; wholesale and retail trade;
finance, insurance, and real estate; services; and
government.
In BCD, series 41 appears under the economic pro­
cess "employment and unemployment."

SERIES 40 measures the number of persons employed
in mining, manufacturing, and construction industries.
In BCD, series 40 appears under the economic pro­
cess "employment and unemployment."

SERIES 48 measures the number of hours worked by
employees in nonagricultural establishments. (See
description of series 41 for industries included.) Hours
worked are computed separately for each industry and
aggregated into a nonfarm total. Where data are lack­
ing for individual industries, sources other than the
establishment survey are used—primarily the U.S.
Department of Commerce, Bureau of the Census cur­
rent population survey (CPS) for weekly hours, adjust­
ed to eliminate distortions due to holidays. The CPS,
conducted each month by Census Bureau interview­
ers, includes 60,000 households beginning with 1981
(65,000 in 1980, 56,000 through 1979) located in 629
areas in 1,148 counties and independent cities in the
50 States and the District of Columbia.
Several types of imputations are used to supply missing
data:
1. Nonproduction-worker average weekly hours
for industries other than manufacturing are
imputed to be the same as those of production

6



workers. For manufacturing, an estimate is
developed from wage surveys of BLS and dis­
ability studies of the Social Security Admini­
stration.
2. For transportation and communication indus­
tries, where data are available only for some
components of each industry, hours derived
from the known part are imputed to the indus­
try total.
3. For finance, insurance, and real estate, where
more detailed data are available annually than
monthly, monthly estimates are adjusted to con­
form with the annual data. Employment data
are derived from BLS establishment reports,
and weekly hours data are developed from the
CPS.
4. For service and miscellaneous industries, the
BLS series for hotels and lodging, laundries,
cleaning and dyeing, motion picture, and other
services have been supplemented with employ­
ment rates derived from the Bureau of Economic
Analysis (BEA) national income series and weekly
hours from the CPS.
In BCD, series 48 appears under the economic pro­
cess "employment and unemployment."

SERIES 21 measures the number of weekly average
hours that is in excess of regular hours and for which
overtime premiums are paid in manufacturing indus­
tries. Overtime hours are those for which production
or nonsupervisory workers receive overtime compen­
sation because their hours are in excess of the straighttime workday or workweek during the survey period.
Weekend and holiday hours are included only if overtime
premiums are paid. Hours for which only shift differen­
tial, hazard, incentive, or other similar types of premi­
ums are paid are excluded.
"Production or nonsupervisory workers" include
working supervisors and nonsupervisory workers (includ­
ing group leaders and trainees) engaged in fabricating,
processing, assembling, inspecting, receiving, storing,
handling, packing, warehousing, shipping, trucking, and
hauling of merchandise; in maintenance, repair, janitorial,
and guard services; in product development; in auxiliary
production for the plant's own use (e.g., power plant);
and in recordkeeping and other services closely asso­
ciated with production operations.
In BCD, series 21 appears under the economic pro­
cess "employment and unemployment."

SERIES 1 measures the average number of hours paid
per production or nonsupervisory worker per week in
manufacturing industries during the survey week. Unpaid

The Handbook of Cyclical Indicators

absenteeism, labor turnover, part-time work, and stop­
pages can cause average weekly hours to be lower than
scheduled weekly hours of an establishment; overtime
hours can cause average weekly hours to be higher.
"Production or nonsupervisory workers" are defined
under series 21, above.
In BCD, series 1 appears under the economic pro­
cess "employment and unemployment."

SERIES 570 measures the number of persons, includ­
ing salaried officers of corporations, employed in defense
products industries. This group includes industries classi­
fied under the following Standard Industrial Classifica­
tion (SIC): Ordnance and accessories (SIC 348); com­
munication equipment (SIC 366); aircraft and parts
(SIC 372); and guided missiles, space vehicles, and
parts (SIC 376). The data include a significant amount
of nondefense activity of defense products industries
(e.g., both commercial and military aircraft are includ­
ed) and exclude a significant amount of defense activi­
ty of nondefense products industries (e.g., shipbuild­
ing). The series is seasonally adjusted by BEA.
In BCD, series 570 appears under the category
"defense indicators."

SERIES 961 is a diffusion index that measures the percent
of manufacturing industries for which the average weekly
hours of production or nonsupervisory workers increase.
The increases are shown over 1- and 9-month spans.
The index is computed by BEA. (For a list of the 20
manufacturing industries, see table C2 in part I of BCD.)
In BCD, series 961 appears under the category "dif­
fusion indexes."

SERIES 963 is a diffusion index that measures the percent
of nonagricultural industries for which employment
increases. The increases are shown over 1- and 6-month
spans. Beginning in 1972, the index is calculated from
186 unpublished seasonally adjusted employment series,
which cover nonagricultural payroll employment in the
private sector. Prior to 1972, it was calculated from
172 series. The index is computed by BLS.
In BCD, series 963 appears under the category "dif­
fusion indexes."

SERIES 340 is an index (1977 = 100) based on average
hourly earnings of production or nonsupervisory workers
on nonagricultural payrolls. The index is based on average
hourly earnings (before deductions) obtained from the
BLS establishment survey. It does not include such
labor cost items as irregular bonuses, retroactive items,
payment to various pension and welfare funds, and
payroll taxes paid by employers. It is adjusted to exclude
the effects of fluctuations in overtime premiums (in

BCD 1984



manufacturing only) and changes in the proportion of
workers in low- and high-wage industries. The index is
constructed by weighting the average hourly earnings
in each industry, at the 3-digit SIC level of detail, by
the hours worked in that industry in 1977.
Monthly data are not available prior to 1964; annual
averages have been computed from 1947 to 1963 (using
the 1-digit SIC level of industry detail).
Series 340c measures the percent change in series
340 over 1- and 6-month spans. Changes over 1-month
spans are at a monthly rate, changes over 6-month
spans are at an annual rate.
In BCD, series 340 and 340c appear under the cate­
gory "wages and productivity."

SERIES 341 is an index (1977 = 100) based on average
hourly earnings, in constant (1977) dollars, of produc­
tion or nonsupervisory workers on nonagricultural
payrolls. Average hourly earnings (series 340) are deflat­
ed by the BLS Consumer Price Index for Urban Wage
Earners and Clerical Workers (CPI-W).
Monthly data for series 341 begin in 1964; annual
averages are available from 1947 to 1963.
Series 341c measures the percent change in series
341 over 1- and 6-month spans. Changes over 1-month
spans are at a monthly rate; changes over 6-month
spans are at an annual rate.
In BCD, series 341 and 341c appear under the cate­
gory "wages and productivity."

LABOR TURNOVER
Series 2.
Accession Rate, Manufacturing
Series 3.
Layoff Rate, Manufacturing
Source: U.S. Department of Labor, Bureau of Labor
Statistics
(Data contained in these series are seasonally adjusted.)
THE accession rate and layoff rate were two compo­
nents of the Bureau of Labor Statistics (BLS) series on
labor turnover in manufacturing establishments. Both
series were discontinued after December 1981. Data
were collected primarily from employers by State
employment security agencies of the 50 States and the
District of Columbia. Respondents reported total
employment and the number of accessions and layoffs
during the month. Each.agency used the information to
develop turnover rates for the State and its metropoli­
tan areas and forwarded the data to BLS, which pre­
pared rates at the national level.
Data were expressed as monthly rate per 100 employ­
ees. Employment figures, which were the base used to
compute the rates, represented the number of persons
who worked or received pay for any part of the pay
period (usually 1 week) that included the 12th of the
month.

7

Series 2 and 3 are not included in part III, Historical
Data, 1947-82 in this Handbook.
In BCD, series 2 and 3 appeared under the economic
process "employment and unemployment."

SERIES 2 measured permanent and temporary monthly
additions of new and rehired persons to the employ­
ment rolls. Beginning in January 1959, accessions data
included transfers between establishments of the same
company.

SERIES 3 measured the rate of monthly employerinitiated suspensions from pay status (without preju­
dice to the worker) that lasted, or were expected to
last, more than 7 consecutive calendar days.

fractional portion(s) of split week(s) to secure monthly
averages.
Initial claims for unemployment insurance represent
first claims filed by workers for unemployment com­
pensation upon becoming newly unemployed or claims
for subsequent periods of unemployment in the same
benefit year. A benefit year is a 12-month period dur­
ing which an eligible worker may receive benefits. Since
July 1949, transitional claims (claims filed by persons
already in a claimant status for determination of bene­
fit rights in a new benefit year) have been excluded.
The data are compiled by the Employment and Training
Administration from weekly reports of the employment
security agencies in the 50 States, Puerto Rico, the
Virgin Islands, and the District of Columbia. (Data for
Puerto Rico are omitted from series 5 and 45; data for
Puerto Rico and the Virgin Islands are omitted from
series 962.)

INSURED UNEMPLOYMENT
Series 5.

Average Weekly Initial Claims for Unem­
ployment Insurance, State Programs
Series 45.
Average Weekly Insured Unemployment
Rate, State Programs
Series 962. Diffusion Index of Initial Claims for Un­
employment Insurance, State Programs,
51 Areas
Source: U.S. Department of Labor, Employment and
Training Administration; U.S. Department of
Commerce, Bureau of Economic Analysis
(Data contained in these series are seasonally adjusted.)
INSURED unemployment measures the number of
persons reporting at least 1 week of unemployment
under a State unemployment insurance program in the
50 States and the District of Columbia. It includes some
persons who are working part time and would be counted
as employed in the payroll and household surveys. It
excludes persons who have exhausted their benefit
rights and workers who have not earned rights to unem­
ployment insurance.
At present, the State unemployment insurance pro­
grams cover approximately 97 percent of wage and
salary workers. The self-employed, workers on small
farms, and some workers in nonprofit organizations
and domestic service are excluded from these programs.
A covered worker, upon becoming unemployed, files
an initial claim to establish the starting date for any
unemployment compensation that may result from
unemployment for 1 week or longer. The insured unem­
ployment figure is derived by adjusting the data for the
number of weeks of unemployment and the time the
claim is filed, so that the series refers to the week in
which unemployment actually occurred. Monthly totals
are computed from weekly data, with split weeks allo­
cated on the basis of a 5-day week; these totals are
divided by the number of full weeks plus the pertinent

8



SERIES 5 measures the average number of persons
who file first claims for unemployment compensation
per week in a given month. The monthly averages of
weekly data are adjusted for split weeks as described
above. The series is seasonally adjusted by the Bureau
of Economic Analysis (BEA). It is inversely related to
broad movements in aggregate economic activity.
In BCD, series 5 appears under the economic pro­
cess "employment and unemployment."

SERIES 45 measures the number of insured unemployed,
expressed as a percent of the average covered employ­
ment in a 12-month period ending 6 to 9 months prior
to the month of reference. (There is a 6- to 9-month
delay in the compilation and release of the covered
employment data by the source agencies.) The monthly
series is computed from weekly data, as described
above, that have been seasonally adjusted by BEA using
seasonal factors supplied by the U.S. Department of
Labor, Bureau of Labor Statistics. It is inversely related
to broad movements in aggregate economic activity.
In BCD, series 45 appears under the economic pro­
cess "employment and unemployment."

SERIES 962 is a diffusion index based on the number of
initial claims filed in the week containing the 12th of
the month for the 50 States and the District of Colum­
bia. It shows the percentage of the 51 area compo­
nents that decline over 1- and 9-month spans. The
index measures declines because initial claims are
inversely related to broad movements in aggregate
economic activity. The index is computed by BEA after
seasonally adjusting the data for the 51 area com­
ponents.
In BCD, series 962 appears under the category "dif­
fusion indexes."

The Handbook of Cyclical Indicators

HELP-WANTED ADVERTISING
Series 46.
Source:

Index of Help-Wanted Advertising in News­
papers
The Conference Board, Inc.; Metropolitan Life
Insurance Company

Series 60.
Source:

Ratio, Help-Wanted Advertising in News­
papers to Number of Persons Unemployed
The Conference Board, Inc.; Metropolitan Life
Insurance Company; U.S. Department of Labor,
Bureau of Labor Statistics

(Data contained in these series are seasonally adjusted.)
SERIES 46 is an index (1967 = 100) that measures
employers' demands for labor. It reflects the relative
level and monthly change in the number of job openings
resulting from vacancies in existing jobs or the cre­
ation of new jobs.
Data are based on the daily volume of help-wanted
ads published in the classified section of one newspa­
per in each of 51 sample cities. Each city represents a
major labor market area as defined by the Bureau of
Labor Statistics. (Prior to 1971, the sample included
52 cities.) The representativeness and coverage of the
classified advertising for the particular area are the
criteria used to select the newspaper within each city.
Employment in the sample cities accounted for slightly
more than half of U.S. nonagricultural employment in
1971.
Beginning in 1951, data are compiled by The Confer­
ence Board. The monthly advertising volume for each
city is adjusted for differences in the number of Sun­
days and the number of days per month, is adjusted for
seasonal variations, and is converted to an index
(1967 = 100). Each index is weighted by the city's pro­
portion of nonagricultural employment in the sample
cities and combined into regional and national indexes.
For the period from 1945 to 1950, the Metropolitan
Life Insurance Company constructed an index by chaining
the median month-to-month percentage change in
the unweighted volume of help-wanted ads from a
sample of about 60 newspapers. The U.S. Department
of Commerce, Bureau of Economic Analysis (BEA) adjust­
ed the Metropolitan Life Insurance Company's index to
the level of The Conference Board's index.
In BCD, series 46 appears under the economic pro­
cess "employment and unemployment."

SERIES 60 is the monthly ratio of the number of adver­
tised jobs available to the number of persons unem­
ployed. It is computed by BEA by dividing the index of
help-wanted advertising (series 46) by the number of
persons unemployed (series 37) converted to an index
(1967 = 100).
In BCD, series 60 appears under the economic pro­
cess "employment and unemployment."

BCD 1984



EMPLOYMENT, UNEMPLOYMENT,
AND LABOR FORCE
Series 442.
Series 37.
Series 441.
Series 90.

Civilian Employment
Number of Persons Unemployed
Civilian Labor Force
Ratio, Civilian Employment to Population
of Working Age
Series 42.
Number of Persons Engaged in Nonagri­
cultural Activities
Series 448. Number of Persons Employed Part Time
for Economic Reasons
Series 451. Civilian Labor Force Participation Rate,
Males 20 Years and Over
Series 452. Civilian Labor Force Participation Rate,
Females 20 Years and Over
Series 453. Civilian Labor Force Participation Rate,
Both Sexes 16-19 Years of Age
Series 444. Number Unemployed, Males 20 Years and
Over
Series 445. Number Unemployed, Females 20 Years
and Over
Series 446. Number Unemployed, Both Sexes 16-19
Years of Age
Series 447. Number Unemployed, Full-Time Workers
Series 43.
Unemployment Rate
Series 44.
Unemployment Rate, Persons Unemployed
15 Weeks and Over
Series 91.
Average Duration of Unemployment in
Weeks
Source: U.S. Department of Labor, Bureau of Labor
Statistics; U.S. Department of Commerce,
Bureau of Economic Analysis
(Data contained in these series are seasonally adjusted.)

THESE series are based on data collected in household
surveys conducted each month by interviewers of the
U.S. Department of Commerce, Bureau of the Census
as part of its current population survey and are com­
piled for the Bureau of Labor Statistics. The survey
sample includes about 60,000 households beginning
with 1981 (65,000 in 1980, 56,000 through 1979) located
in 629 areas in 1,148 counties and independent cities
in the 50 States and the District of Columbia. (Prior to
1960, Alaska and Hawaii were excluded.) The data relate
to employment activity or status during the "survey
week"; i.e., the calendar week that includes the 12th of
the month.
The civilian labor force includes the civilian noninstitutional population 16 years of age and over who are
classified as employed or unemployed. It excludes mem­
bers of the U.S. Armed Forces and persons in penal
institutions; mental institutions; tuberculosis sanitari­
ums; and homes for the aged, infirm, and needy.

SERIES 442 includes civilian, noninstitutional persons
16 years old or over who (1) worked during any part of

9

the survey week as paid employees; worked in their
own business, profession, or farm; or worked 15 hours
or more as unpaid workers in a family owned enter­
prise; or (2) were not working but had jobs or business­
es from which they were temporarily absent due to
illness, bad weather, vacation, labor-management
dispute, or personal reasons—whether or not they
were paid by their employers for the time off, and
whether or not they were seeking another job. Each
employed person is counted only once; those who had
more than one job are counted in the job at which they
worked the greatest number of hours during the survey
week.
The data include citizens of foreign countries who
are living in the United States but not on the premises
of an embassy. The data exclude persons whose only
activity consisted of work around their own homes
(such as housework, painting, repairing, etc.) and vol­
unteer workers for religious, charitable, and similar
organizations.
In BCD, series 442 appears under the category "civil­
ian labor force and major components."

SERIES 37 includes persons who were available for
work (except for temporary illness) but did not work
during the survey week, and who made specific efforts
to find a job within the previous 4 weeks by going to an
unemployment service, applying directly to an employer,
answering a want ad, or being on a union or profession­
al register. Persons who were available for work but did
not work, because they were either waiting to be called
back to a job from which they had been laid off or were
waiting to report to a new job within 30 days, also are
classified as unemployed. The series is inversely relat­
ed to broad movements in aggregate economic activity.
In BCD, series 37 appears under the economic pro­
cess "employment and unemployment" and under the
category "civilian labor force and major components."

SERIES 441 includes persons 16 years old or over in
the civilian noninstitutional population who are classi­
fied as employed or unemployed. Seasonally adjusted
figures for the civilian labor force are obtained by sum­
ming independently adjusted employment and unem­
ployment components.
In BCD, series 441 appears under the category "civil­
ian labor force and major components."

SERIES 90 is the ratio, computed by the Bureau of
Economic Analysis and expressed as a percent, of civilian
employment (series 442) to noninstitutional population
16 years and over. The population data include U.S.
Armed Forces.

10



In BCD, series 90 appears under the economic pro­
cess "employment and unemployment."

SERIES 42 is a component of total civilian employment
(series 442) that measures the number of persons
employed in all activities except agriculture.
In BCD, series 42 appears under the economic pro­
cess "employment and unemployment."

SERIES 448 measures the number of persons in the
full-time labor force who, for economic reasons, are
employed part time involuntarily. Persons who worked
between 1 and 34 hours during the survey week are
designated as working "part time." "Economic rea­
sons" include slack work, materials shortages, or repairs
to plant or equipment at the place of employment;
start or termination of a job during the week; and inability
to find full-time work.
In BCD, series 448 appears under the category "civil­
ian labor force and major components."

SERIES 451, 452, and 453 measure civilian labor force
participation rates for males 20 years and over, females
20 years and over, and both sexes 16-19 years of age,
respectively. These are defined as ratios, expressed as
percents, of components of the civilian labor force
(series 441) to comparable components of the civilian
noninstitutional population.
In BCD, series 451, 452, and 453 appear under the
category "civilian labor force and major components."

SERIES 444, 445, and 446 are age and sex components
of total civilian unemployment (series 37) for males 20
years and over, females 20 years and over, and both
sexes 16-19 years of age, respectively.
In BCD, series 444, 445, and 446 appear under the
category "civilian labor force and major components."

SERIES 447 is a component of total civilian unemploy­
ment (series 37) that includes persons seeking full-time
work.
In BCD, series 447 appears under the category "civil­
ian labor force and major components."

SERIES 43 is the ratio of the number of persons unem­
ployed (series 37) expressed as a percent of the civil­
ian labor force (series 441). The series is inversely
related to broad movements in aggregate economic
activity.

The Handbook of Cyclical Indicators

In BCD, series 43 appears under the economic pro­
cess "employment and unemployment."

SERIES 44 is the ratio of the number of persons who
have been unemployed for 15 weeks or more (series
91) expressed as a percent of the civilian labor force
(series 441). The series is inversely related to broad
movements in aggregate economic activity.
In BCD, series 44 appears under the economic pro­
cess "employment and unemployment."

SERIES 91 measures the average number of weeks,
including the current survey week, during which persons
classified as unemployed had been continuously look­
ing for work or, in the case of persons on layoff, the
average number of weeks since the termination of their
most recent employment. A period of 2 or more weeks,
during which a person was employed or ceased looking
for work, is considered a break in the continuity of the
present period of seeking work. Average duration of
unemployment is the arithmetic mean computed from
the distribution by weeks of unemployment. The series
is inversely related to broad movements in aggregate
economic activity.
In BCD, series 91 appears under the economic pro­
cess "employment and unemployment."

PERSONAL INCOME
Series 223.
Series 52.
Series 51.

Personal Income in Current Dollars
Personal Income in 1972 Dollars
Personal Income Less Transfer Payments
in 1972 Dollars
Series 224. Disposable Personal Income in Current
Dollars
Series 225. Disposable Personal Income in 1972 Dol­
lars
Series 227. Per Capita Disposable Personal Income
in 1972 Dollars
Series 53.
Wages and Salaries in 1972 Dollars, Min­
ing, Manufacturing, and Construction
Source: U.S. Department of Commerce, Bureau of
Economic Analysis and Bureau of the Census
(Data contained in these series are seasonally adjusted.)
PERSONAL income is the income received by persons
from all sources, that is, from participation in produc­
tion, from transfer payments from government and
business, and from government interest, which is treated
like a transfer payment. Persons consist of individuals,
nonprofit institutions, private noninsured welfare funds,
and private trust funds. Proprietors' income is treated
in its entirety as received by individuals. Life insurance
carriers and private noninsured pension funds are not
counted as persons, but their saving is credited to

BCD 1984



persons. Personal income is the sum of wage and sala­
ry disbursements, other labor income, proprietors'
income with inventory valuation and capital consump­
tion adjustments (series 282), rental income of persons
with capital consumption adjustment (series 284),
personal dividend income, personal interest income,
and transfer payments less personal contributions for
social insurance. (Inventory valuation and capital con­
sumption adjustments are defined in the Corporate
Profits section in this Handbook.)
Personal income is not a measure of the value of
national output because it includes certain incomes
that do not accrue in production (e.g., government
transfer payments and government interest), and
excludes certain incomes that do accrue in production
but are not distributed to persons (e.g., undistributed
corporate profits and contributions for social insurance).
"Wage and salary disbursements" consists of the
monetary remuneration of employees, including the
compensation of corporate officers; commissions, tips,
and bonuses; and receipts in kind that represent income
to the recipients. They differ from wages and salaries
included in compensation of employees (series 280),
because they include retroactive wages when paid,
rather than when earned.
"Other labor income" includes employer contribu­
tions to private pension and welfare funds, and direc­
tors' fees. It excludes employer contributions to pub­
licly administered funds such as old-age, survivors,
disability, and hospital insurance; unemployment insur­
ance; and civilian government employees retirement.
"Proprietors' income with inventory valuation and
capital consumption adjustments" (series 282) and
"rental income of persons with capital consumption
adjustment" (series 284) are described in the Proprietors' Income and Rental Income of Persons sections,
respectively, in this Handbook.
"Personal dividend income" is payments in cash or
other assets, excluding stock, by corporations organized
for profit to stockholders who are U.S. persons.
"Personal interest income" is the interest income of
persons from all sources. In the national income and
product accounts, it is calculated as net interest (series
288), plus interest paid by government to persons and
business, less interest received by government, plus
interest paid by consumers to business. The last item
includes interest paid by individuals in their capacity as
consumers but excludes their interest payments on
mortgages and home improvement loans because home­
owners are treated as businesses in the national income
and product accounts.
"Transfer payments to persons" is income payments
to persons, generally in monetary form, for which they
do not render current services. It consists of business
and government transfer payments. Business transfer
payments include liability payments for personal inju­
ry, corporate gifts to nonprofit institutions, and bad
debts incurred by consumers. Government transfer
payments include payments under the following pro-

11

grams: Federal old-age, survivors, disability, and hos­
pital insurance; supplementary medical insurance; State
unemployment insurance; railroad retirement and
unemployment insurance; government retirement;
workers' compensation; veterans, including veterans
life insurance; food stamps; black lung; supplemental
security income; and direct relief. Government payments
to nonprofit institutions, other than for work under
research and development contracts, also is included.
"Personal contributions for social insurance" includes
payments by employees, self-employed, and other indi­
viduals who participate in the following programs: Federal
old-age, survivors, disability, and hospital insurance;
supplementary medical insurance; State unemployment
insurance; railroad retirement insurance; government
retirement; and veterans life insurance.

SERIES 223 and 52 measure personal income, as
described above, in current and constant (1972) dol­
lars, respectively. The deflator used to compute the
1972 dollar series is the Bureau of Economic Analysis
(BEA) implicit price deflator for personal consumption
expenditures (PCE). From 1959 to date, data for the
deflator are monthly; prior to 1959, the monthly values
are obtained by using the movements in the U.S. Depart­
ment of Labor, Bureau of Labor Statistics (BLS) Con­
sumer Price Index for Urban Wage Earners and Clerical
Workers (CPI-W) to interpolate the quarterly PCE deflator.
In BCD, series 223 and 52 appear under the economic
process "production and income."

SERIES 51 measures constant (1972) dollar personal
income less transfer payments (as described.above).
Because transfer payments represent the largest part
N
of personal income that does not accrue in production
and because some types of transfer payments tend to
be contracyclical, their removal from personal income
provide^ a series with greater cyclical amplitude.
The current-dollar series is deflated in the same way
as series 52 above.
In BCD, series 51 appears under the economic pro­
cess "production and income."

property taxes. Nontax payments include passport fees,
fines and penalties, donations, and tuitions and fees
paid to schools and hospitals operated mainly by
government.
The 1972 dollar series (series 225) is computed by
deflating the current-dollar series (series 224) by the
implicit price deflator for PCE described in series 52
above.
In BCD, series 224 and 225 appear under the cate­
gory "GNP and personal income."

SERIES 227 is computed by dividing constant-dollar
disposable personal income (series 225) by quarterly
estimates of U.S. population, including U.S. Armed Forces
overseas and in outlying areas, but excluding depen­
dents living with them. Also excluded are residents of
Puerto Rico, residents of the outlying areas under U.S.
sovereignty or jurisdiction, and other American citi­
zens living overseas.
Population estimates for the first of each month are
published by the Bureau of the Census. A quarterly
population estimate is computed by BEA by taking
2-month averages of the beginning-of-month estimates
to represent monthly averages and averaging the month­
ly averages for the quarter. Population estimates now
cover the 50 States and the District of Columbia; prior
to 1960, they did not cover Alaska and Hawaii.
In BCD, series 227 appears under the category "GNP
and personal income."

SERIES 53 measures wage and salary disbursements in
nonfarm commodity-producing industries deflated by
the BLS Consumer Price Index for all Urban Consumers
(CPI-U). The series includes disbursements to workers
in mining, manufacturing, construction, and a small
component, "forestry, fisheries, and agricultural ser­
vices."
BEA seasonally adjusts the CPI-U using seasonal fac­
tors provided by BLS.
In BCD, series 53 appears under the economic pro­
cess "production and income."

INDUSTRIAL PRODUCTION
SERIES 224 and 225, disposable personal income in
current and constant (1972) dollars, respectively, meas­
ure the portion of personal income that is available for
spending or saving. It is equal to personal income less
personal tax and nontax payments.
"Personal tax and nontax payments" is tax payments
(net of refunds) by persons (except personal contribu­
tions for social insurance) that are not chargeable to
business expense, and certain other personal payments
to government agencies (except government enter­
prises) that it is convenient to treat like taxes. Personal
taxes include income, estate and gift, and personal

12



Series 47.
Series 966.
Series 73.
Series 74.
Series 76.
Series 75.

Index of Industrial Production
Diffusion Index of Industrial Production,
24 Industries
Index of Industrial Production, Durable
Manufactures
Index of Industrial Production, Nondur­
able Manufactures
Index of Industrial Production, Business
Equipment
Index of Industrial Production, Consu­
mer Goods

The Handbook of Cyclical Indicators

Series 557.
Source:

Index of Industrial Production, Defense
and Space Equipment
Board of Governors of the Federal Reserve
System; U.S. Department of Commerce, Bureau of Economic Analysis

(Data contained in these series are adjusted for holi­
day and working day differences and for seasonal
variations.)
THE index of industrial production measures monthly
changes in the physical output of the manufacturing,
mining, and gas and electric utility industries. For manu­
facturing and mining, products at all stages of fabrica­
tion are included. The index does not cover production
on farms, or in the construction, transportation, trade,
and service industries, but does include production at
plants and shipyards owned and operated by the
Government.
The index, based on 1967 = 100, uses data supplied
by government agencies and trade organizations. It is
based on 235 series. These are combined with valueadded weights for selected base years to create the
total index of industrial production. Value added for
each industry is the difference between the value of
production and the cost of materials and supplies con­
sumed. The methods applied are:
1. Converting each series into relatives with the
average for the base period (1967) as 100.
2. Multiplying each series of relatives by a baseyear weight factor.
3. Adding the products (relatives multiplied by
weights) for any one month and dividing by the
sum of the weights to obtain the index for the
month.

SERIES 47 is an index that is computed by combining
235 series covering all stages of production in manu­
facturing, mining, and gas and electric utility industries.
In BCD, series 47 appears under the economic pro­
cess "production and income."

SERIES 966 is a diffusion index that measures the percent
of industries reporting increased production. The
increases are shown over 1- and 6-month spans.
Twenty-four industries are included—10 in durable
manufactures (ordnance is excluded), 10 in nondura­
ble manufactures, and 4 in mining. The index is com­
puted by the Bureau of Economic Analysis. (For an
industry list, see table C2 in part I of BCD.)
In BCD, series 966 appears under the category "dif­
fusion indexes/'

BCD 1984



SERIES 73 is an index that measures the production of
the durable manufactures components of the industri­
al production index. Durable manufactures include those
manufactured items with a normal life expectancy of 3
years or longer. Ordnance, private and government;
lumber and products; furniture and fixtures; clay, glass,
and stone products; primary metals; fabricated metal
products; nonelectrical machinery; electrical machinery;
transportation equipment; instruments; and miscella­
neous manufactures are included.
In BCD, series 73 appears under the economic pro­
cess "production and income."

SERIES 74 is an index that measures the production of
the nondurable manufactures components of the indus­
trial production index. Nondurable manufactures include
those manufactured items with a normal life expectancy
of less than 3 years. Foods, tobacco products, textile
mill products, apparel products, paper and products,
printing and publishing, chemicals and products, pe­
troleum products, rubber and plastic products, and
leather and products are included.
In BCD, series 74 appears under the economic pro­
cess "production and income."

SERIES 76 is an index that measures the production of
the business equipment components of the industrial
production index. This group includes industrial equip­
ment for building, mining, manufacturing, and power;
and commercial, transit, and farm equipment.
In BCD, series 76 appears under the economic pro­
cess "fixed capital investment."

SERIES 75 is an index that measures the production of
the consumer goods components of the industrial pro­
duction index. Consumer goods include automotive
products and home goods in the durable category, and
clothing and consumer staples in the nondurable goods
category.
In BCD, series 75 appears under the economic pro­
cess "consumption, trade, orders, and deliveries."

SERIES 557 is an index that measures the production
of the defense and space equipment components of
the industrial production index. It includes equipment
for defense and space purposes produced by private
industry and plants and shipyards owned and operated
by the Government. The following items are in this
group: Electronic communication; aerospace; ordnance;
Atomic Energy Commission manufacturing for defense
purposes; military aircraft; military ships from private
shipyards; Navy, Air Force, and Army ordnance plants;
and Navy shipyards.

13

In BCD, series 557 appears under the category
"defense indicators."

In BCD, series 83, 82, and 84 appear under the
economic process "production and income."

GOODS OUTPUT
Series 49.
Value of Goods Output in 1972 Dollars
Source: U.S. Department of Commerce, Bureau of
Economic Analysis
(Data contained in this series are seasonally adjusted.)
IN the national income and product accounts, this series
is defined as the sum, in constant (1972) dollars, of the
final sales of goods plus the change in business inven­
tories; or, alternatively, the constant-dollar gross
national product (GNP) minus the final sales of struc­
tures and services.
"Final sales" measures that part of GNP that is sold
to final users during the period. It includes sales to
consumers, gross fixed investment, sales to govern­
ment, and net sales to foreigners—exports after deduc­
tions of imports. Constant-dollar final sales are com­
puted by dividing the seasonally adjusted current-dollar
components by seasonally adjusted price indexes in as
fine a breakdown as practicable and totaling the results.
"Change in business inventories" measures the value
of the change in the physical volume of farm and nonfarm inventories held by private business.
In BCD, series 49 appears under the economic pro­
cess "production and income."

SERIES 83 is based on quarterly surveys, conducted by
the Bureau of Economic Analysis (BEA), which ask each
manufacturing company in the sample to report its
capacity utilization rate for the last month of the quar­
ter. The survey schedule asks each company to follow
its usual operating practices in defining its capacity,
but BEA believes most respondents use a measure of
"maximum practical capacity."
The aggregate utilization rates are based on individ­
ual company rates and are weighted at successive stages
of aggregation by estimates of capacity weights at the
company, asset-size, and industry levels, respectively.

SERIES 82 is a derived measure of capacity utilization.
The data sets used to estimate capacity by industry
include:
1. The Board of Governors of the Federal Reserve
System (FRB) industrial production indexes.
2. Surveys of manufacturers' utilization rates from
McGraw-Hill Information Systems Company and
the U.S. Department of Commerce, Bureau of
the Census and BEA.
3. Gross capital stock estimates.

CAPACITY UTILIZATION
Series 83.
Capacity Utilization Rate, Manufacturers
Source: U.S. Department of Commerce, Bureau of
Economic Analysis
Series 82.
Capacity Utilization Rate, Manufacturing
Series 84.
Capacity Utilization Rate, Materials
Source: Board of Governors of the Federal Reserve
System
(Data contained in these series are seasonally adjusted.)
CAPACITY utilization rates are ratios, expressed as
percentages, of actual output to capacity output. They
measure the extent to which industries realize their
output potential. Capacity output is defined as the level of
output that can be achieved during a given period with
existing plant and equipment and with a normal operating
schedule. A normal operating schedule reflects the
usual number of full-time hours per shift, shifts per
day, days per week, overtime hours, vacation hours,
and hours of downtime for repair and maintenance. It
is assumed that supplies of labor and other inputs are
unlimited. This concept of capacity output, which is
called "maximum practical capacity," varies among
producing units according to technological requirements
and custom, and may change over time.

14



4. The McGraw-Hill survey of industrial capacity
growth.
5. Capacity estimates in physical units from busi­
ness and trade associations.
Preliminary yearend capacity indexes for each industry
are estimated by dividing the FRB output indexes by
utilization rate estimates from surveys. These prelimi­
nary capacity estimates are sometimes adjusted by
considering data from the McGraw-Hill yearend capacity
growth survey and gross capital stock data. Linear inter­
polation between yearend capacity estimates yields
monthly estimates. The capacity utilization rate is com­
puted by dividing the monthly seasonally adjusted FRB
industrial production index by the derived monthly
capacity index. Capacities for individual industries are
aggregated using 1967 value-added weights to obtain
capacity for total manufacturing. The manufacturing
utilization rate is calculated as a ratio of manufacturing
production to manufacturing capacity.

SERIES 84 is derived from weighted averages of output
and capacity for each of 96 materials components of
the FRB index of industrial production. The capacity
series are based on a concept of "maximum practical

The Handbook of Cyclical Indicators

output." Yearend capacity estimates are derived from
the FRB indexes of industrial production and capacity
utilization rates collected and published by trade associa­
tions, government agencies, and other sources. The
utilization rates are determined by statistical proce­
dures similar to those used for series 82 described
above.
The capacity utilization rates for total materials are
available beginning 1967; for prior years, the rates for
primary processing are used. Primary processing
includes the following major manufacturing groups: Tex­
tiles; coal and petroleum refining; lumber; paper; indus­
trial chemicals; rubber and plastics; stone, clay, and
glass; and primary and fabricated metals. Total mate­
rials includes the manufacturing groups plus mining
and power.

NEW AND UNFILLED ORDERS
Manufacturers' New Orders in Current
Dollars, Durable Goods Industries
Manufacturers' New Orders in 1972 Dol­
Series 7.
lars, Durable Goods Industries
Manufacturers' Unfilled Orders, Durable
Series 96.
Goods Industries
Series 25.
Change in Manufacturers' Unfilled Orders,
Durable Goods Industries
Manufacturers' New Orders in 1972 Dol­
Series 8.
lars, Consumer Goods and Materials In­
dustries
Series 24.
Manufacturers' New Orders in Current
Dollars, Nondefense Capital Goods Indus­
tries
Series 27.
Manufacturers' New Orders in 1972 Dol­
lars, Nondefense Capital Goods Indus­
tries
Series 548. Manufacturers' New Orders, Defense Prod­
iucts
Series 561. Manufacturers' Unfilled Orders, Defense
i
iProducts
Series 964. 1Diffusion Index of Manufacturers' New
iOrders, 34-35 Durable Goods Industries
Source: U.S.. Department of Commerce, Bureau of
the Census and Bureau of Economic Analysis
Series 6.

i

(Data contained in these series are seasonally adjust­
ed; new orders are adjusted also for holiday and work­
ing day differences.)
THE following series are estimates of manufacturers'
new or unfilled orders based on data collected in the
monthly manufacturers' shipments, inventories and
orders survey by the Bureau of the Census. The survey
includes most manufacturing companies with 1,000 or
more employees and selected smaller companies. Com­
panies with less than 100 employees are not sampled;
data for these companies are estimated using overall
industry averages. For firms that operate in a single
industry category, the reporting unit typically comprises

BCD 1984



all operations of the company. At the request of the
Census Bureau, most larger diversified companies file
separate reports for divisions that operate in different
industrial areas. The survey methodology assumes that
the month-to-month changes in the data from the
reporting units classified in each industry category effec­
tively represent the month-to-month movements of
the establishments in the Standard Industrial Classifi­
cation industries that make up the category.
New orders are intents to buy for immediate or future
delivery. Only orders supported by binding legal docu­
ments, such as signed contracts, letters of intent, or
letters of award, are included. The monthly series include
new orders received during the month less cancella­
tions. Reporting companies are instructed to include:
1. The sales value of orders for goods to be deliv­
ered at some future date.
2. The sales value of orders for immediate deliv­
ery that have resulted in sales during the report­
ing period.
3. The net sales value of contract change docu­
ments that increase or decrease the sales value
of the orders to which they are related, if the
parties are in substantial agreement on the
amount involved.
From the total of these items, companies are instruct­
ed to deduct the value of partial or complete cancella­
tions of existing orders.
Unfilled orders are orders that have been received
but have not yet passed through the sales account.
Generally, unfilled orders at the end of the reporting
period are equal to unfilled orders at the beginning of
the period, plus net new orders received during the
period, minus net sales.
While both new orders and unfilled orders are used in
reviewing individual company reports for consistency,
only unfilled orders are estimated directly in the tabu­
lated totals. This is done for two reasons:
1. Many companies supply new orders data only
for those activities with a backlog of unfilled
orders and omit from new orders the value of
shipments for goods delivered from inventories
or current production.
2. It preserves the identity between orders and
shipments; that is, new orders is equal to the
current value of shipments plus the change in
unfilled orders.
Therefore, the new orders series is derived directly
from the shipments and unfilled orders series using the
above formula. Also, the new orders series is not sea­
sonally adjusted independently but is derived from the
seasonally adjusted shipments and unfilled orders series.

15

In many nondurable goods industries and a few dura­
ble goods industries, unfilled orders data are not tabu­
lated either because they are not reported by the respon­
dents or because nearly all orders are shipped from
inventories or current production. The best estimate
of new orders for these industries is the value of cur­
rent shipments; therefore, these are included in the
tabulations.
The constant-dollar new orders series are deflated
by the Bureau of Economic Analysis (BEA) using the
appropriate Producer Price Indexes. These indexes,
which are compiled by the U.S. Department of Labor,
Bureau of Labor Statistics (BLS), measure average
changes in prices received in primary markets in the
United States. They are designed to measure "pure"
price changes; i.e., price changes not influenced by
changes in quality, quantity, shipping terms, or prod­
uct mix. The deflators are seasonally adjusted either
by BLS or by BEA using seasonal adjustment factors
supplied by BLS.

SERIES 6 and 7 measure the value of new orders of
durable goods manufacturers in current dollars and
constant (1972) dollars, respectively. Series 7 is com­
puted by deflating the seasonally adjusted current-dollar
series (series 6) by the seasonally adjusted Producer
Price Index for durable manufactures.

SERIES 96 and 25 measure the current-dollar value of
unfilled orders of durable goods manufacturers and
the month-to-month amount of change in unfilled orders
of durable goods manufacturers, respectively.
Durable goods are defined as those items with a
normal life expectancy of three years or more. Includ­
ed in this group are stone, clay, and glass products;
primary metals; fabricated metal products; machinery
except electrical; electrical machinery; transportation
equipment; instruments and related products; and other
durable goods (lumber and wood products, furniture
and fixtures, and miscellaneous manufactured goods).
In BCD, series 6, 7, 96, and 25 appear under the
economic process "consumption, trade, orders, and
deliveries."

SERIES 8 measures new orders for consumer goods
and materials in constant (1972) dollars. These new
orders include the durable goods industries other than
capital goods and defense producers and the four non­
durable goods industries that have unfilled orders: Textile
mill products; paper and allied products; printing, pub­
lishing, and allied products; and leather and leather
products.
For the period prior to 1953 for the durables and
prior to 1958 for the nondurables, aggregated totals
were deflated using fixed (1958) weights for the com­

16



ponents of the Producer Price Indexes. From 1953 to
date for the durables and 1958 to date for the nondu­
rables, the deflation was performed separately for each
2-digit Standard Industrial Classification industry includ­
ed in the two totals, and therefore reflects current
weights for each of the components.
In BCD, series 8 appears under the economic pro­
cess "consumption, trade, orders, and deliveries."

SERIES 24 and 27 measure the value of new orders
received by a subgroup of durable goods manufactur­
ers in capital goods nondefense industries in current
and constant (1972) dollars, respectively. Included are
producers of:
1. Nonelectrical machinery—including steam en­
gines and turbines; internal combustion engines;
construction, mining, and material-handling
equipment; metalworking machinery; special
industry equipment; general industry equipment;
office and computer equipment; service indus­
try machinery; and miscellaneous nonelectri­
cal equipment; but excluding farm machinery
and machine shops.
2. Electrical machinery—including electrical trans­
mission and distribution equipment, electrical
industrial apparatus, other electrical machin­
ery, and the nondefense portion of communica­
tion equipment, but excluding household appli­
ances, radio and TV, and electronic components.
3. Transportation equipment—railroad equipment
and the nondefense portions of: Shipbuilding;
military tank vehicles; and aircraft, missiles, and
parts.
4. Fabricated metals—the nondefense portion of
ordnance.
Prior to 1968, the data include all machinery and
equipment industries and are not comparable with data
for subsequent years. The 1972 dollar series (series
27) is the sum of current-dollar components of series
24 that have been deflated by BEA using appropriate
combinations of Producer Price Indexes.
In BCD, series 24 and 27 appear under the economic
process "fixed capital investment."

SERIES 548 and 561 measure the value of manufactur­
ers' new orders and unfilled orders, respectively, for
defense products.
Data are based on separate reports covering only the
defense work of large defense contractors in the
ordnance and accessories; communication equipment;
aircraft, missiles, and parts; and shipbuilding and tanks
industries. These defense products only include data

The Handbook of Cyclical Indicators

for contracts with the U.S. Department of Defense,
including Defense Department contracts for which the
ultimate consumer is a foreign government, such as
contracts made under the Foreign Military Assistance
Program.
In BCD, series 548 and 561 appear under the cate­
gory "defense indicators."

SERIES 964 is a diffusion index that measures the percent
of industries that report increases in new orders. The
increases are shown over 1- and 9-month spans. The
index is computed by BEA from components which
represent 35 industries prior to 1977 and 34 industries
from 1977 to date.
In BCD, series 964 appears under the category "dif­
fusion indexes."

VENDOR PERFORMANCE
Series 32.
Source:

Vendor Performance, Percent of Compa­
nies Receiving Slower Deliveries
Purchasing Management Association of Chicago

(Data contained in this series are not seasonally
adjusted.)
SERIES 32 measures the percentage of purchasing
agents in the Greater Chicago area who experienced
slower deliveries in the current month compared with
the previous month. It tends to reflect the volume of
business being handled by the suppliers of these firms,
with slower deliveries usually indicating a higher vol­
ume of business.
The survey is conducted monthly among 200 of the
approximately 1,000 members of the Purchasing Man­
agement Association of Chicago (PMAC). On the basis
of information supplied by the Chicago Association of
Commerce and Industry, the PMAC sample is selected
to represent proportionally the following 15 industries
in the Greater Chicago area: Primary metals, 14 percent;
food, 12 percent; nonelectrical machinery, 12 percent;
electrical machinery, 11 percent; fabricated metal prod­
ucts, 10 percent; printing, 9 percent; chemicals, 8
percent; transportation, 6 percent; apparel and finished
textile products, 3 percent; professional and scientific
instruments, 2.5 percent; stone, clay, and glass, 2.5
percent; paper and allied products, 2 percent; petroleum
and coal, 2 percent; furniture and fixtures, 1.7 percent;
and all other, 4.3 percent.
Each month, respondents are asked to report whether
deliveries are faster than last month, the same as last
month, or slower than last month. PMAC publishes the
percentage of respondents reporting in each category.
The series published in BCD shows the percentage
of companies receiving slower deliveries and is com­
puted by summing the PMAC percentage receiving slower
deliveries plus one-half of the percentage receiving
deliveries unchanged from the previous month.

BCD 1984



In BCD, series 32 appears under the economic pro­
cess "consumption, trade, orders, and deliveries."

MANUFACTURING AND TRADE
INVENTORIES AND SALES
Series 65.

Manufacturers' Inventories, Finished Goods,
Book Value
Series 71.
Manufacturing and Trade Inventories, Book
Value
Series 70.
Manufacturing and Trade Inventories in
1972 Dollars
Series 31.
Change in Manufacturing and Trade In­
ventories, Book Value
Series 36.
Change in Manufacturing and Trade In­
ventories on Hand and on Order in 1972
Dollars
Series 78.
Manufacturers' Inventories, Materials and
Supplies on Hand and on Order, Book
Value
Series 38.
Change in Manufacturers' Inventories,
Materials and Supplies on Hand and on
Order, Book Value
Series 56.
Manufacturing and Trade Sales in Cur­
rent Dollars
Series 57.
Manufacturing and Trade Sales in 1972
Dollars
Series 77.
Ratio, Manufacturing and Trade Inven­
tories to Sales in 1972 Dollars
Series 69.
Manufacturers' Machinery and Equipment
Sales and Business Construction Expend­
itures
Series 559. Manufacturers' Inventories, Defense Prod­
ucts, Book Value
Series 588. Manufacturers' Shipments, Defense Prod­
ucts
Source: U.S. Department of Commerce, Bureau of
the Census and Bureau of Economic Analysis
(Data contained in these series are seasonally adjust­
ed; sales and shipments are adjusted also for holiday
and working day differences.)

THESE series measure the inventories or sales of man­
ufacturing, merchant wholesalers, and retail estab­
lishments. Inventories and sales of agriculture, forest­
ry, and fishing; mining; construction; nonmerchant
wholesalers (sales branches of manufacturing compa­
nies, agents, brokers, and commission merchants);
transportation, communication, electric, gas, and sani­
tary services; finance, insurance, and real estate; and
services are excluded. The series are compiled from
data collected each month by the Bureau of the Census
in the shipments, inventories, and orders survey and in
the merchant wholesalers and retail trade surveys.
They are adjusted to benchmarks from the 5-year
censuses of manufactures, wholesale trade, and retail
trade and to interim annual surveys.

17

The monthly series on manufacturers' inventories
and sales have been compiled by the Census Bureau
since 1957; prior to that year, the survey was conduct­
ed by the Bureau of Economic Analysis (BEA). Mer­
chant wholesalers' inventories and sales and retail sales
have been collected and published by the Census Bureau
since 1954 and 1951, respectively. Retail inventories
have been collected and published by the Census Bureau
since January 1979. For prior years, these series were
published by BEA from sample data collected by the
Census Bureau.
Manufacturers' inventories are book values of stockson-hand at the end of the month, and include materi­
als and supplies, work in process, and finished goods.
Inventories associated with nonmanufacturing activi­
ties of manufacturing companies are excluded. Inven­
tories are valued according to the valuation method
used by each company, and the aggregates are a mix­
ture of LIFO (last-in-first-out) and non-LIFO values.
Annual information is obtained on the portions of
inventories valued by the various accounting methods.
Merchant wholesalers' and retail inventories are also
book values of merchandise-on-hand at the end of the
month. Goods held on consignment by wholesalers and
retailers are excluded.
Manufacturers' sales are the value of their shipments
for domestic use or export. Shipments are measured
by receipts, billings, or the value of products shipped
(less discounts, returns, and allowances) and generally
exclude freight charges and excise taxes. Shipments
from one division to another within the same company
in the United States and shipments by domestic firms
to foreign subsidiaries are included, but shipments by
foreign subsidiaries are excluded. For some aircraft
and all shipbuilding, the "value of shipments" is the
value of the work done during the period covered, rather
than the value of the products physically shipped.
Merchant wholesalers' sales include sales of merchan­
dise and receipts from repairs or other services (after
deducting discounts, returns, and allowances) and sales
of merchandise for others on a commission basis. Sales
taxes and Federal excise taxes are excluded.
Retail sales include total receipts from customers after
deductions of refunds and allowances for merchandise
returned. Receipts from rental or leasing of merchan­
dise and from repairs and other services to customers
are included also. Since 1967, finance charges, and
sales and excise taxes collected from customers and
paid to tax agencies by the retailer are excluded.
Manufacturers' inventories and sales of defense prod­
ucts are based on separate reports covering only the
defense work of large defense contractors in the
ordnance and accessories; communication equipment;
aircraft, missiles, and parts; and shipbuilding and tank
industries. These defense products cover only work for
the U.S. Department of Defense and orders from for­
eign governments for military goods contracted through
the Defense Department.

18



SERIES 65 measures the book value of products on
which manufacturers have completed processing and
that are ready for shipment to customers. Inventories
of goods bought for resale without further processing
also are included.
In BCD, series 65 appears under the economic pro­
cess "inventories and inventory investment."

SERIES 71 and 70 are measures of the dollar value of
inventories held by manufacturing, merchant whole­
salers, and retail establishments in book value and
constant (1972) dollars, respectively. The book-value
components are combined into a single series by the
Census Bureau.
Series 70 is computed by BEA by deflating compo­
nents of series 71 by appropriate combinations of Pro­
ducer Price Indexes compiled by the U.S. Department
of Labor, Bureau of Labor Statistics (BLS). For 1958
and subsequent years, each industry in the three com­
ponents has been deflated separately using weighted
averages of Producer Price Indexes with appropriate
lag structures. The lag structures are based on infor­
mation on inventory turnover periods developed from
stock/sales ratios and survey data on inventory account­
ing practices. Prior to 1958, the aggregate of the three
components was deflated using a lagged 4-month moving
average of the Producer Price Index for Industrial Com­
modities. The book-value inventory estimates and the
deflators are seasonally adjusted prior to the deflation.
In BCD, series 71 and 70 appear under the economic
process "inventories and inventory investment."

SERIES 31 measures the month-to-month amount of
change in series 7 1 . Changes in book value of these
inventories reflect changes in replacement costs as
well as changes in physical volume.
In BCD, series 31 appears under the economic pro­
cess "inventories and inventory investment."

SERIES 36 measures the month-to-month amount of
change, in constant (1972) dollars, in manufacturing
and trade inventories and manufacturers' unfilled orders
(excluding unfilled orders for capital goods and defense
products). The components of each series are deflated
separately and then combined into a total from which
monthly changes are computed.
The constant-dollar manufacturing and trade inven­
tories component is series 70, described above. Man­
ufacturers' unfilled orders measure the end-of-month
constant-dollar value of orders that have been received
but have not yet passed through the sales accounts.
(See the New and Unfilled Orders section in this Handbook.) The unfilled orders data are deflated separate­
ly at the 2-digit Standard Industrial Classification (SIC)
industry level, using appropriate Producer Price Indexes

The Handbook of Cyclical Indicators

beginning with 1953 for the eight durable-goods indus­
tries and beginning with 1958 for the four nondurablegoods industries. Prior to these dates, the aggregate
durable and nondurable levels were each deflated using
fixed-weighted averages (1958 weights) of Producer
Price Indexes as deflators.
The series is shown in BCD as the month-to-month
amounts of change and as 4-term moving averages of
the monthly changes (weighted 1,2,2,1) and placed on
the terminal month of the span.
In BCD, series 36 appears under the economic pro­
cess "inventories and inventory investment."

SERIES 78 measures the value of manufacturers' materi­
als and supplies inventories plus their unfilled orders
for construction and other materials and supplies. Inven­
tory data are defined above. Manufacturers' unfilled
orders measure the end-of-month dollar value of orders
that have been received but have not yet passed through
the sales accounts.
In BCD, series 78 appears under the economic pro­
cess "inventories and inventory investment."

SERIES 38 measures the month-to-month amount of
change in series 78, described above. Because differ­
ent methods of inventory valuation are used by estab­
lishments in the sample, the aggregate inventories for
an industry and the monthly change may represent a
mix of pricing methods.
In BCD, series 38 appears under the economic pro­
cess "inventories and inventory investment."

SERIES 56 and 57 measure the monthly volume of
sales of manufacturing, merchant wholesalers, and retail
establishments in current and constant (1972) dollars,
respectively.
Deflated sales (series 57) are computed by BEA as
follows: Manufacturers' sales (shipments) are deflated
at the 3- and 4-digit SIC industry levels primarily using
appropriate Producer Price Indexes combined with 1977
product-class shipments weights; wholesale sales are
deflated by kind of business primarily using appropri­
ate Producer Price Indexes combined with 1977 Cen­
sus commodity-line sales weights; and retail sales are
deflated by kind of business using components of the
BLS Consumer Price Index for All Urban Consumers
combined with 1972 Census commodity-line sales
weights.
In BCD, series 56 and 57 appear under the economic
process "consumption, trade, orders, and deliveries."

SERIES 77 measures the ratio of the end-of-month
constant-dollar value of inventories on hand in manu­
facturing, merchant wholesalers, and retail establish-

BCD 1984



ments to the constant-dollar value of monthly sales of
these establishments.
Series 77 is computed by dividing series 70, which is
in 1972 dollars, by series 57, also in 1972 dollars, and
expressing the result as a ratio. The ratio is computed
after the inventory components are adjusted for sea­
sonal variations, and the sales components are adjust­
ed for holiday and working day differences and for
seasonal variations.
In BCD, series 77 appears under the economic pro­
cess "inventories and inventory investment."

SERIES 69 measures the value of manufacturers' ship­
ments (sales) of nondefense capital goods, and new
construction put in place for private industrial and com­
mercial use.
The term "shipments" is defined above. The manu­
facturers' shipments component includes the follow­
ing industry categories:
1. Nonelectrical machinery—including steam
engines and turbines; internal combustion
engines; construction, mining, and materialhandling equipment; metal-working machin­
ery; special industry machinery; general indus­
try machinery; office and computing equipment;
service industry machinery; and miscellaneous
nonelectrical equipment.
2. Electrical machinery—including electrical trans­
mission and distribution equipment, electrical
industrial apparatus, nondefense communication
equipment, and other electrical machinery
(excluding household appliances, radio and TV,
and electronic components).
3. Transportation equipment—railroad equipment
and nondefense portions of: Shipbuilding; mili­
tary tank vehicles; and aircraft, missiles, and
parts.
4. Fabricated metals products—the nondefense
portion of ordnance.
The "value of new commercial and industrial con­
struction put in place" component is compiled by the
Census Bureau from:
1. Monthly progress reports from owners of a sam­
ple of construction projects in the 50 States
and the District of Columbia for 1968 to date.
2. Monthly progress reports (from the 37 States
east of the Rocky Mountains) and estimates
(for the 13 Western States) for July 1962 through
1967.
3. Data on value of contracts awarded (time phased
using progress patterns) for the period prior to
July 1962.

19

In BCD, series 69 appears under the economic pro­
cess "fixed capital investment."

SERIES 559 measures the book value of manufactur­
ers' inventories of defense products. Materials and
supplies, work in process, and finished goods invento­
ries are included. Goods for which the company has
received progress or partial payments are excluded.
In BCD, series 559 appears under the category
"defense indicators."

SERIES 588 measures manufacturers' shipments of
defense products valued at received or receivable net
selling prices, f.o.b. plant, after discounts and allow­
ances, and excluding freight charges and excise taxes.
The series also includes receipts for contract work and
for miscellaneous activities, such as sale of scrap and
refuse, installation work by manufacturing plant employ­
ees, research and development, and repairs. For
multiunit companies, the manufacturer is requested to
report as sales the value of products transferred to
other establishments of the same company (i.e., other
manufacturing plants, separate sales branches, or retail
stores).
In BCD, series 588 appears under the category
"defense indicators."

RETAIL SALES
Series 54.
Sales of Retail Stores in Current Dollars
Series 59.
Sales of Retail Stores in 1972 Dollars
Source: U.S. Department of Commerce, Bureau of
the Census and Bureau of Economic Analysis
(Data contained in these series are adjusted for holi­
days and trading day differences and for seasonal
variations.)
SERIES 54 and 59 measure the net sales and receipts
of establishments primarily engaged in retail trade in
current and constant (1972) dollars, respectively.
Wholesale sales of retail establishments are included
but retail sales of manufacturing, wholesale, service,
and other establishments whose primary activity is not
retail trade, are not.
Net sales are defined as cash and credit sales less
discounts, refunds, and allowances for returned mer­
chandise, but without deductions for trade-in allow­
ances. Receipts include payments for rental or leasing
of merchandise to customers and for repair and other
services. Commissions from vending machine operators
and nonoperating income, such as investments and
real estate are not included. Since 1967, finance charges,
and sales and excise taxes collected from customers
and paid directly to tax agencies also are excluded.
A retail establishment is defined as one engaged pri­
marily in selling merchandise for personal or house­

20



hold consumption. The term "establishment" refers
to the physical location at which the retail business is
conducted—therefore, a company or enterprise may
consist of one or more establishments. If two or more
activities are carried on at a single location, the entire
establishment is classified on the basis of its major
activity.
Since 1951, sales of retail stores are estimated by
the Bureau of the Census from data reported in its
monthly survey of retail establishments. These esti­
mates are prepared from probability sample data strati­
fied by industry, size, and geographic location. They
are derived by weighting the reported sales of each
establishment in the sample by a value inversely pro­
portionate to its probability of selection. Data are adjust­
ed to the levels reported in the census of retail trade
collected in selected years and to the annual surveys of
retail trade.
For 1947 to 1950, the Bureau of Economic Analysis
(BEA) prepared a series that is similar to the Census
Bureau series.
The 1972 dollar series (series 59) is computed by
BEA by deflating the seasonally adjusted current-dollar
series by combinations of Consumer Price Indexes com­
piled by the U.S. Department of Labor, Bureau of Labor
Statistics.
In BCD, series 54 and 59 appear under the economic
process "consumption, trade, orders, and deliveries."

CONSUMER SENTIMENT
Series 58.
Index of Consumer Sentiment
Source:
University of Michigan, Survey
Center

Research

(Data contained in this series are not seasonally
adjusted.)
THIS index is based on personal and telephone inter­
views with a nationwide sample of respondents select­
ed by multistage area probability sampling.
Data are quarterly for the period 1952 through 1977
and are based on surveys of approximately 1,200 to
2,000 respondents. Beginning with 1978, the data are
monthly and are based on surveys of 700 to 800 respon­
dents. The questions asked in the monthly and the
quarterly surveys are the same; therefore, data from
the two surveys are considered comparable.
The index is based on responses to five of the ques­
tions included in the survey:
1. An opinion on the financial condition of the
respondent and his family at present compared
to a year earlier.
2. An opinion on the financial condition of the
respondent and his family 1 year hence com­
pared to the present.
3. An opinion on business conditions in the United
States in the next 12 months.

The Handbook of Cyclical Indicators

4. An opinion on business conditions in the United
States during the next 5 years.
5. Whether the present is a good or bad time to
purchase consumer durables.
The responses to each question are grouped into three
categories:
1. Up, better, or good.
2. Same, no change, or uncertain.

2. Number of business failures. A business failure
is defined as "a concern that is involved in a
court proceeding or a voluntary action that is
likely to result in loss to creditors." Firms that
are liquidated, merged, sold, or otherwise dis­
continued without loss to creditors are not con­
sidered failures. Data are for the 50 States and
the District of Columbia. This component is
inverted before inclusion in the index.
3. Confidential data on telephones installed prior
to 1979 and confidential public utilities infor­
mation for 1979 forward.

3. Down, worse, or bad.
For each question, the proportion of "down" respons­
es is subtracted from the proportion of " u p " respons­
es. To avoid negative numbers, 100 is added to this
difference. These results for each of the five questions
are averaged (unweighted), and the average is con­
verted to an index with the first quarter of 1966=100.
Beginning with 1960, 2.7 is added to each index. This
adjusts the current indexes, which are based on respons­
es from any adult in a household, to the level of indexes
for the earlier period, when respondents included heads
of households only. Beginning with December 1981,
this factor was changed to 2.0 to reflect the adoption
of a new method of weighting respondents by age and
income. Differences in the index values exceeding 1.3
points are significant at the one-standard-error level.
In BCD, series 58 appears under the economic pro­
cess "consumption, trade, orders, and deliveries."

BUSINESS FORMATION
Series 12.
Index of Net Business Formation
Source: U.S. Department of Commerce, Bureau of
Economic Analysis
Series 13.
Number of New Business Incorporations
Source: Dun & Bradstreet, Inc.
(Data contained in these series are seasonally adjusted.)
SERIES 12 provides a monthly estimate of the net for­
mation of business enterprises. There are no direct
measures of the monthly change in the total business
population. However, it is believed that this estimate
adequately represents the short-term movement of
new entries into, and departures from, the total busi­
ness population.
The series is a composite index (1967 = 100) com­
puted from the following data:
1. New business incorporations. This series meas­
ures the number of domestic stock profit com­
panies receiving charters each month under
the general business incorporation laws of the
50 States and the District of Columbia. (For
more detailed description of this series, see
series 13 below.)

BCD 1984



Data are seasonally adjusted by the Bureau of Eco­
nomic Analysis (BEA) beginning 1960 and by the National
Bureau of Economic Research (NBER) for the period
prior to 1960.
In BCD, series 12 appears under the economic pro­
cess "fixed capital investment."

SERIES 13 measures the number of domestic stock
profit companies receiving charters each month under
the general business incorporation laws of the 50 States
and the District of Columbia. New incorporations include
completely new businesses that are incorporated, exist­
ing businesses that are changed from a noncorporate
to a corporate form of organization, existing corpora­
tions that have been given certificates of authority to
operate also in another State, and existing corpora­
tions transferred to a new State. Data prior to 1947
cover only the 48 contiguous States. Hawaii was added
in 1958, Alaska in 1960, and the District of Columbia in
1963.
Data are collected from the Secretary of State of
each State government. Some data are received directly
from the States on an ongoing basis; the remaining
data are collected by Dun & Bradstreet reporters. Data
are seasonally adjusted by BEA beginning 1960 and by
NBER for the period prior to 1960.
In BCD, series 13 appears under the economic pro­
cess "fixed capital investment."

CONTRACTS AND ORDERS FOR PLANT
AND EQUIPMENT
Series 10.

Contracts and Orders for Plant and Equip­
ment in Current Dollars
Series 20.
Contracts and Orders for Plant and Equip­
ment in 1972 Dollars
Source:
McGraw-Hill Information
Systems Company, F.W. Dodge Division; U.S. Department
of Commerce, Bureau of the Census and
Bureau of Economic Analysis
Series 9.
Source:

Construction Contracts Awarded for Com­
mercial and Industrial Buildings, Floor Space
McGraw-Hill Information Systems Company,
F. W. Dodge Division

(Data contained in these series are seasonally adjusted.)

21

SERIES 10 and 20 measure the value of new contracts
awarded to building, public works, and utilities con­
tractors and of new orders for nondefense goods
received by manufacturers in capital goods industries.
They are the sum of the following series:
1. The value of contracts for commercial and indus­
trial construction about to get underway on
commercial buildings (banks, offices and lofts,
stores, warehouses, garages, and service sta­
tions), and manufacturing buildings (for process­
ing or mechanical usage).
2. The value of contracts for privately owned
nonbuilding construction about to get under
way on streets and highways, bridges, dams
and reservoirs, waterfront developments, sewer­
age systems, parks and playgrounds, electric
light and power systems, gas plants and mains,
oil and gas well pipelines, water supply systems,
railroads, and airports (excluding buildings).
3. Manufacturers' new orders received by capital
goods, nondefense industries (BCD series 24
for the current-dollar series and series 27 for
the constant-dollar series).
The construction contracts data are compiled by the
McGraw-Hill Information Systems Company, F.W. Dodge
Division. Data cover the value of new construction,
additions, and major alterations; maintenance work is
excluded. F.W. Dodge construction statistics are based
on data obtained from reports to F.W. Dodge supple­
mented by permit-place reports. The valuation figures
approximate actual construction costs exclusive of land,
architects' fees, and, in the case of manufacturing build­
ings, the cost of equipment that is not an integral part
of the structure. Beginning with January 1969, data
cover construction in the 50 States and the District of
Columbia. In the period 1956-68, data cover the 48
contiguous States and the District of Columbia; prior
to 1956, only the 37 States east of the Rocky Moun­
tains and the District of Columbia are included. The F.
W. Dodge data are seasonally adjusted by the Bureau of
Economic Analysis (BEA).
To obtain the construction contracts data (two of
the three components of series 20) in constant (1972)
dollars, current-dollar data are deflated by an implicit
price deflator obtained by dividing the current-dollar
value of nonresidential construction put in place by the
1977-dollar value of nonresidential construction put in
place and converting the resulting ratios to an index on
a 1972 base. (Values of nonresidential construction—
in current and constant dollars—are obtained by sub­
tracting from the total values of new construction the
values for private residential buildings and for public
housing and redevelopment.)
Manufacturers' new orders in 1972 dollars (series
27) is the sum of current-dollar components of series
24 deflated by appropriate combinations of Producer

22



Price Indexes compiled by the U.S. Department of Labor,
Bureau of Labor Statistics.
To obtain series 10 and 20, the three components in
current and 1972 dollars, respectively, are aggregated.
In BCD, series 10 and 20 appear under the economic
process "fixed capital investment."

SERIES 9 measures the amount of floor space, in both
square feet and square meters, specified in new con­
tracts for work about to get underway on commercial
buildings (banks, offices and lofts, stores, warehouses,
garages, and service stations) and manufacturing build­
ings (for processing or mechanical use).
BEA obtained permission from McGraw-Hill Informa­
tion Systems Company, F.W. Dodge Division, to use
copyrighted data beginning with 1948, converted the
series to metric units, and seasonally adjusted it.
In BCD, series 9 appears under the economic pro­
cess "fixed capital investment."

CAPITAL APPROPRIATIONS,
MANUFACTURING
Series 11.

Newly Approved Capital Appropriations,
1,000 Manufacturing Corporations
Series 97.
Backlog of Capital Appropriations, 1,000
Manufacturing Corporations
Series 965. Diffusion Index of Newly Approved Capi­
tal Appropriations in 1972 Dollars, 17
Manufacturing Industries
Source: The Conference Board, Inc.
(Data contained in these series are seasonally adjusted.)

SERIES 11 and 97 measure funds authorized for capital
expenditures by the thousand largest U.S. manufacturing
firms ranked by total assets. Data are collected by The
Conference Board in quarterly surveys of these firms.
A "capital appropriation" constitutes authority to
incur obligations for new plant and equipment that has
been granted by the board of directors or president of
the company. Appropriations for capital expenditure
cover:
1. Construction of new buildings and plants, and
additions to or improvement of existing build­
ings and plants.
2. Equipment, such as new machinery, motor vehi­
cles for business use, office machines, and stor­
age equipment.
Wherever possible, appropriations for land, maintenance
and repair, used equipment and buildings, construc­
tion and equipment outside the United States, acquisi­
tion of existing companies, and leases for land or min­
eral rights are excluded.

The Handbook of Cyclical Indicators

Series 11 measures capital appropriations that were
approved during the survey quarter. It reflects busi­
ness plans that have been approved by top manage­
ment officials and may be considered a barometer of
business planning and expectations.
The appropriations backlog (series 97) represents
capital appropriations that were neither cancelled nor
spent by the end of the survey quarter. (The backlog at
the end of the quarter is equal to the backlog outstanding
at the beginning of the quarter, plus new appropria­
tions approved during the quarter, minus capital ex­
penditures during the quarter, minus cancellations.)
In BCD, series 11 and 97 appear under the economic
process "fixed capital investment."

SERIES 965 is a diffusion index that measures the percent
of industries that have reported increases in newly
approved capital appropriations in 1972 dollars (series
11, above, deflated by the source agency). The increases
are shown over 1-quarter spans and as 4-quarter moving
averages of the 1-quarter span data. The series is
computed by The Conference Board using data for 17
industries.
In BCD, series 965 appears under the category "dif­
fusion indexes."

NEW PLANT AND EQUIPMENT EXPENDITURES
Series 61.

Expenditures for New Plant and Equip­
ment by U.S. Nonfarm Business
Series 970. Diffusion Index of Expenditures for New
Plant and Equipment by U.S. Nonfarm
Business, 22 Industries
Source: U.S. Department of Commerce, Bureau of
Economic Analysis
(Data contained in these series are seasonally adjusted.)
SERIES 61 measures expenditures for new plant and
equipment by nonfarm business in the United States.
These expenditures usually are charged to fixed asset
accounts and are depreciated or amortized by the com­
pany. They include expenditures for replacement or
expansion of existing facilities, for new facilities, and
for exploration and development. They exclude expendi­
tures for maintenance and repair, used capital goods
(whether purchased or acquired through mergers and
acquisitions), capital goods located outside the United
States, land and mineral rights, and residential con­
struction.
Nonfarm business includes the following major industry
groups: Manufacturing; mining; transportation; public
utilities; wholesale and retail trade; finance, insurance,
and real estate; personal, business, and professional
services; communications; and other (construction;
social services and membership organizations; and for­
estry, fisheries, and agricultural services).

BCD 1984



The series has two major components: Plant and
structures, and machinery and equipment. "Plant and
structures" includes factories, warehouses, stores,
shopping centers, mines, pipelines, and accessory struc­
tures; additions and alterations to structures; items
that are integral parts of structures (such as utility
lines, elevators, power plants, and centralized heating
and cooling equipment); parking lots and other land
improvements; and exploration and development of
properties. "Machinery and equipment" includes ma­
chinery for factories, mines, warehouses, stores, and
offices; and equipment such as automobiles, trucks,
computers, and furniture and fixtures.
Estimates are based on quarterly reports collected
by the Bureau of Economic Analysis (BEA) from a sam­
ple of companies that accounted for about 53 percent
of the 1972 expenditures universe. Expenditures usually
are reported for the quarter in which payment is made
to the supplier, but in force account work, they are
reported for the quarter in which costs are incurred.
On long-term projects, payments usually are made
during the period of construction or production. Expendi­
tures are reported on a company basis with each com­
pany classified in the industry in which the largest vol­
ume of its sales or payrolls fall. In each survey, the
respondent reports actual expenditures for the previ­
ous quarter, planned expenditures one quarter ahead
(the current quarter), two quarters ahead, and three
quarters ahead.
The methodology used to estimate actual plant and
equipment expenditures consists of three steps: The
benchmarks, interpolation between benchmarks, and
extrapolation beyond the last benchmark. The bench­
marks are the best possible estimates for each industrysize group for selected years for which universe data
are available (1948, 1958, 1963, 1967, and 1972). These
benchmarks set the level for the plant and equipment
expenditures series. The Enterprise Statistics of the
U.S. Department of Commerce, Bureau of the Census;
Statistics of Income of the U.S. Department of the
Treasury, Internal Revenue Service; reports of Federal
regulatory agencies; and reports of business associa­
tions are the source of the benchmarks. Quarterly esti­
mates derived from the BEA sample are used to inter­
polate the expenditures for each industry-size group
for the quarters of each annual benchmark and for the
quarters between benchmarks. Estimates subsequent
to the last benchmark (1972) are extrapolated using a
chain of link relatives derived from the BEA sample.
Link relatives from the BEA sample are used to link the
planned expenditures to the actual expenditures report­
ed in each survey.
The results of each survey are published the last
month of each quarter and provide estimates of actual
expenditures for the previous quarter, and planned
expenditures for the current and following quarters.
Expenditures are available for total nonfarm business,
the major sectors, and selected industries.

23

In BCD, series 61 appears under the economic pro­
cess "fixed capital investment."

SERIES 970 is a diffusion index based on published data
for 22 industries or industry groups that make up the
aggregate series 61 (see above). Increases over 1quarter spans are shown for three closings:
1. "Actual expenditures" for a specified period—
this index measures the percentage of indus­
tries that report increases in actual expendi­
tures from the preceding to the specified quarter.
2. "Later projections" for a specified period—this
index measures the percentage of industries
that report increases from the actual expendi­
tures in the preceding quarter to the planned
expenditures for the specified quarter.
3. "Early projections" for a specified period—this
index measures the percentage of industries
that report increases from the revised planned
expenditures for the preceding quarter to the
preliminary planned expenditures for the speci­
fied quarter.
In BCD, series 970 appears under the category "dif­
fusion indexes."

HOUSING STARTS AND PERMITS
Series 28.
Series 29.
Source:

New Private Housing Units Started
index of New Private Housing Units Auth­
orized by Local Building Permits
U.S. Department of Commerce, Bureau of
the Census

(Data contained in these series are seasonally adjusted.)
SERIES 28 and 29 refer to private housing units. A
housing unit is defined as a single room or group of
rooms intended for occupancy as separate living quar­
ters by a family, by a group of unrelated persons living
together, or by a person living alone. Group quarters
(such as dormitories, fraternity houses, nurses' homes,
and rooming houses) and all transient accommodations
are excluded.
In BCD, series 28 and 29 appear under the economic
process "fixed capital investment."

SERIES 28 measures the number of private housing
units started each month. All types of accommodations
designed as separate living quarters and constructed
in new buildings are included, regardless of value or
quality—i.e., year-round and seasonal houses, prefabri­
cated houses, basement houses, shell houses, and hous­
es built of second-hand materials.

24



A housing start is defined as construction begun on a
new building that is intended primarily as a housekeeping
residential building designed for nontransient occupancy.
All housing units in a multifamily building are counted
as started when excavation of the foundation begins.
The conversion of either residential or nonresidential
space to provide additional numbers of housing units
and the production of mobile homes are excluded.
In May 1960, statistical procedures were revised,
and the revisions carried back to January 1959. Annual
levels for earlier years, furnished to the Bureau of the
Census by the U.S. Department of Labor, Bureau of
Labor Statistics, also were revised to make them com­
parable with those for the later years. The monthly
series prior to 1959 was then adjusted to equal the new
annual levels. Data prior to 1959 are not strictly com­
parable with data for later years because they repre­
sent nonfarm housing starts rather than total private
housing starts covered in subsequent years. However,
the difference is small—farm housing starts comprise
less than 2 percent of the total number.

SERIES 29 is an index (1967 = 100) that measures the
monthly change in the number of housing units author­
ized by local permit-issuing places. The data relate to
the issuance of permits, not to the start of construc­
tion, which frequently occurs several months later.
Furthermore, in a small number of cases, permits are
not used and are allowed to lapse.
Data for the period 1948-53 are based on estimates
of the number of new privately owned dwelling units
authorized in urban areas as defined in the 1940 Cen­
sus of Population. Building permit data from reporting
cities, which represent approximately 85 percent of
the 1940 urban population, were expanded to repre­
sent all urban areas by matching nonreporting to report­
ing urban places on the basis of city population size and
location, and applying trend ratios for reporting places
to the matched nonreporting places.
From 1954 to 1958, data are based on reports from
approximately 6,600 permit-issuing places, which
include practically all large cities; a large proportion of
smaller cities; and selected counties, towns, and town­
ships. Data for 1959-62 are based on reports from 10,000
permit-issuing places; for 1963-66, from 12,000 permitissuing places; for 1967-71, from 13,000 permit-issuing
places; for 1972-77, from 14,000 permit-issuing places;
and for 1978 to date, from 16,000 permit-issuing places.
Permits issued by these 16,000 places account for
approximately 88 percent of all new residential con­
struction in the United States. The remaining 12 percent
is in areas that do not require building permits.
These periodic changes in the number of permitissuing places yield data that are not comparable
between periods. To achieve comparability for use in
BCD, the seasonally adjusted series for the earlier
period was adjusted to the level of the current period

The Handbook of Cyclical Indicators

(16,000 permit-issuing places) and converted to an
index, 1967-100.

SPOT MARKET PRICES
Series 23.

Index of Spot Market Prices, Raw Indus­
trial Materials
Series 967. Diffusion Index of Spot Market Prices,
13 Raw Industrial Materials
Source: U.S. Department of Labor, Bureau of Labor
Statistics; Commodity Research Bureau, Inc.;
U.S. Department of Commerce, Bureau of
Economic Analysis
(Data contained in these series are not seasonally
adjusted.)
SERIES 23 is an index (1967 = 100) that measures the
spot market price movements of a group of 13 raw
industrial materials on commodity markets and organ­
ized exchanges. It is one of two major groups (the other
being foodstuffs) of the source agencies' index of spot
market prices for 22 sensitive basic commodities whose
markets are presumed to be among the first to be
influenced by changes in economic conditions. The
commodities used are either raw materials or prod­
ucts close to the initial production stage.
The raw industrial materials group consists of bur­
lap, copper scrap, cotton, hides, lead scrap, print cloth,
rosin, rubber, steel scrap, tallow, tin, wool tops, and
zinc.
The commodities were chosen because they are:
1. Basic commodities widely used for further
processing.
2. Freely traded in an open market.
3. Sensitive to changing conditions significant in
those markets.
4. Sufficiently homogeneous or standardized that
uniform and representative price quotations can
be obtained over a period of time.
Some commodities (such as rubber and tin), which are
important in international trade, are included to reflect
the influence of international markets on the economy.
"Spot" price refers to the price at which a commodity
is selling for immediate delivery. When the spot price is
not available, the " b i d " or "asked" price is used. The
prices are obtained from trade publications or from
Government agencies.
For the period prior to June 1981, Tuesday spot
market prices are used. The weekly (Tuesday) indexes
are unweighted geometric averages of the individual
commodity price relatives. Monthly indexes are geo­
metric averages of the Tuesday prices for the month.
The Bureau of Labor Statistics (BLS) is the source
agency.

BCD 1984



Beginning with June 1981, the monthly index repre­
sents averages of daily (excluding weekends) indexes
for each month. It is compiled by the Commodity
Research Bureau based on the commodities and meth­
odology initiated by BLS. The Commodity Research
Bureau index is copyrighted and used by permission in
BCD.
In BCD, series 23 appears under the economic pro­
cess "prices, costs, and profits."

SERIES 967 is a diffusion index that measures increas­
es in prices of the 13 raw industrial materials compo­
nents of series 23. The increases are shown over 1and 9-month spans. The index is computed by the
Bureau of Economic Analysis.
In BCD, series 967 appears under the category "dif­
fusion indexes."

SENSITIVE MATERIALS PRICES
Series 99.
Change in Sensitive Materials Prices
Source: U.S. Department of Commerce, Bureau of
Economic Analysis; U.S. Department of Labor,
Bureau of Labor Statistics; Commodity Research Bureau, Inc.
(Data contained in this series are seasonally adjusted.)
SERIES 99 measures the change in a composite index
(1967 = 100) based on two sensitive materials price
series: "Producer price index, 28 sensitive crude and
intermediate materials" (from which series 98 is com­
puted) and "spot market price index, raw industrial
materials" (series 23). (For a description of these com­
ponents, see the Producer Prices and Spot Market
Prices sections, respectively, in this Handbook.)
Series 99 is shown as percent changes over 1-month
spans and as a 4-term moving averages of the monthly
changes (weighted 1,2,2,1) and placed on the terminal
month of the span.
In BCD, series 99 appears under the economic pro­
cess "prices, costs, and profits."

STOCK PRICES
Series 19.
Series 968.
Source:

Index of Stock Prices, 500 Common Stocks
Diffusion Index of Stock Prices, 500 Com­
mon Stocks, 49 to 82 Industries
Standard & Poor's Corporation; U.S. Department of Commerce, Bureau of Economic
Analysis

(Data contained in these series are not seasonally
adjusted.)
SERIES 19 is an index that measures the average price
of stocks listed on the New York Stock Exchange. The
basic format of the monthly index was introduced in

25

1957; it includes 500 stocks and is on a 1941-43 = 10
base. The series is based on daily closing prices for the
month. The price of each stock is weighted by the
number of shares outstanding. The aggregate current
market value is computed and expressed as a relative
of the aggregate market value in the base period. The
resulting ratios are multiplied by 10. (The base period
used results in a price index level that for most pur­
poses can be considered as interchangeable into dol­
lars and cents. The level of the index closely approxi­
mates the average price level of all the stocks listed in
the New York Stock Exchange.) The index is modified
to offset unusual price changes due to issuance of rights,
stock dividends, splitups, and mergers.
In July 1976, the index was revised to include some
over-the-counter stocks, mainly bank and insurance
stocks. Before the revision, three groups were repre­
sented: 425 industrials, 60 utilities, and 15 rails. The
revised index comprises four groups: 400 industrials,
40 utilities, 20 transportation, and 40 financial. Fortyfive stocks from the old index also were replaced.
Each stock in the index must represent a viable enter­
prise typical of the industry group to which it is assigned.
Its market price movements must be responsive to
changes in the industry. Given a choice among a number
of stocks meeting these criteria, preference will be
given to the stocks with the largest aggregate market
value—usually these are also the more actively traded
issues in the industry. Selection of stocks for addition
to or removal from the index is the responsibility of the
500 Index Committee at Standard & Poor's.
In BCD, series 19 appears under the economic pro­
cess "prices, costs, and profits."

SERIES 968 is a diffusion index that measures the percent
of industries whose stock prices increased. The increases
are shown over 1- and 9-month spans. The index is
based on 82 component industries through February
1963; since then, the number of components has
declined gradually to 49 by October 1982. The index is
computed by the Bureau of Economic Analysis.
In BCD, series 968 appears under the category "dif­
fusion indexes."

CORPORATE PROFITS
Series 16.
Series 18.
Series 79.

Series 80.

Series 22.

26



Corporate Profits After Tax in Current
Dollars
Corporate Profits After Tax in 1972 Dollars
Corporate Profits After Tax With Inven­
tory Valuation and Capital Consumption
Adjustments in Current Dollars
Corporate Profits After Tax With Inven­
tory Valuation and Capital Consumption
Adjustments in 1972 Dollars
Ratio, Corporate Domestic Profits After
Tax to Total Corporate Domestic Income

Series 81.

Ratio, Corporate Domestic Profits After
Tax With Inventory Valuation and Capital
Consumption Adjustments to Total Cor­
porate Domestic Income
Series 34.
Corporate Net Cash Flow in Current Dol­
lars
Series 35.
Corporate Net Cash Flow in 1972 Dollars
Series 295. Business Saving
Series 286. Corporate Profits Before Tax With Inven­
tory Valuation and Capital Consumption
Adjustments
Series 287. Corporate Profits Before Tax With Inven­
tory Valuation and Capital Consumption
Adjustments as a Percent of National
Income
Source: U.S. Department of Commerce, Bureau of
Economic Analysis
(Data contained in these series are seasonally adjusted.)
CORPORATE profits is the income of corporations
organized for profit and of mutual financial institutions
that accrues to residents, measured before profits taxes,
before deduction of depletion charges, after exclusion
of capital gains or losses, and net of dividends received
from domestic corporations. In addition to profits earned
in domestic operations, corporate profits include net
inflows of dividends from abroad, reinvested earnings
of incorporated foreign affiliates, and earnings of unin­
corporated foreign affiliates. In other major respects,
profits are defined as in Federal income tax regulations.
Profits tax includes Federal, State, and local taxes on
corporate income.
"Inventory valuation adjustment" (IVA) is the change
in the business inventories component of the gross
national product (GNP), which is measured as the change
in the physical volume of inventories valued in prices
of the current period, less the change in the value of
inventories reported by business (book value). The IVA
converts inventories at historical cost, the valuation
concept generally underlying business accounting, to
inventories at replacement cost, the concept under­
lying the national income and product accounts (NIPA's).
It is required only for nonfarm inventories; the change
in farm inventories is estimated directly. To make the
measurement of charges against GNP consistent with
GNP, IVA must be applied to reported corporate profits
and proprietors' income.
"Capital consumption allowances'' consists of de­
preciation charges and accidental damage to fixed busi­
ness capital. For nonfarm business, they are as report­
ed on Federal income tax returns. For farms, nonprofit
institutions, and owner-occupied houses, depreciation
charges are not based on income tax returns, but instead
are calculated to conform to NIPA's definitions.
"Capital consumption adjustment" (CCAdj) for cor­
porations is the tax return-based capital consumption
allowances less capital consumption allowances that
are based on estimates of uniform service lives, straight-

The Handbook of Cyclical Indicators

line depreciation, and replacement cost. Similar adjust­
ments are applied to proprietors' income and rental
income of persons.

SERIES 16 and 18 are measures of corporate profits
after tax and before IVA and CCAdj, in current and
constant (1972) dollars, respectively. To compute the
constant-dollar series (series 18), the current-dollar
profits after tax series (series 16) is broken into two
components—dividends and undistributed profits. The
dividends component is deflated by the implicit price
deflator for personal consumption expenditures. The
undistributed profits component is deflated by the
implicit price deflator for nonresidential fixed investment.
In BCD, series 16 and 18 appear under the economic
process "prices, costs, and profits."

SERIES 79 and 80 are measures of corporate profits
after tax with IVA and CCAdj, in current and constant
(1972) dollars, respectively. The constant-dollar series
(series 80) is computed in the same way as series 18,
above: The current-dollar series is broken into two
components—dividends and undistributed profits with
IVA and CCAdj. The dividends component is deflated by
the deflator for personal consumption expenditures;
the undistributed profits with IVA and CCAdj compo­
nent is deflated by the deflator for nonresidential fixed
investment.
In BCD, series 79 and 80 appear under the economic
process "prices, costs, and profits/'

SERIES 22 and 81 measure profits after tax originating
in corporate domestic business as a percent of corpo­
rate domestic income. For series 22, the numerator is
corporate profits after tax before IVA and CCAdj (series
16) less the net inflow of branch profits, reinvested
earnings, and dividends from the rest of the world; for
series 8 1 , it is corporate profits after tax with IVA and
CCAdj (series 79) with the same deductions. The denomi­
nator, corporate domestic income, measures income
of corporations attributable to labor and property located
in the United States. It has three components:
1. Domestic compensation of employees—the
income accruing to corporate employees as
remuneration for their work in the form of wages
and salaries and supplements to wages and sala­
ries (see the Compensation of Employees sec­
tion of this Handbook for definition).
2. Domestic corporate profits before taxes with
IVA and CCAdj, which is described above.
3. Domestic net interest—the excess of interest
payments of corporations over their interest
receipts, including both monetary and imputed
interest (interest in kind).

BCD 1984



In BCD, series 22 and 81 appear under the economic
process "prices, costs, and profits."

SERIES 34 and 35 measure corporate net cash flow in
current and constant (1972) dollars, respectively.
Corporate net cash flow (series 34) is the sum of un­
distributed corporate profits (the portion of profits
remaining after taxes and dividends have been paid)
and corporate capital consumption allowances (the
total of depreciation charges and accidental losses to
fixed capital). Constant-dollar net cash flow (series 35)
is derived by combining undistributed corporate profits
deflated by the implicit price deflator for nonresiden­
tial fixed investment and corporate capital consump­
tion allowances deflated by the implicit price deflator
for a range of capital stock items weighted by constantdollar depreciation.
In BCD, series 34 and 35 appear under the economic
process "prices, costs, and profits."

SERIES 295 measures business saving, which consists
of undistributed corporate profits plus corporate and
noncorporate capital consumption allowances with
CCAdj, plus corporate and noncorporate IVA, plus wage
accruals less disbursements.
In BCD, series 295 appears under the category
"saving."

SERIES 286 measures corporate profits with IVA and
CCAdj before Federal, State, and local income taxes
are deducted.
In BCD, series 286 appears under the category
"national income and its components."

SERIES 287 measures the share (in percent) of nation­
al income accounted for by corporate profits. The
numerator is corporate profits before tax with IVA and
CCAdj (series 286). The denominator is national income
(series 220)—the income (before deduction of taxes
on the incomes) that originates in the production of
goods and services attributable to labor and property
supplied by residents of the United States. Thus, the
denominator measures the factor costs of goods and
services produced.
In BCD, series 287 appears under the category
"shares of GNP and national income."

PROFITS PER DOLLAR OF SALES
Series 15.
Source:

Profits After Taxes Per Dollar of Sales,
Manufacturing Corporations
U.S. Department of Commerce, Bureau of
the Census

(Data contained in this series are seasonally adjusted.)

27

SERIES 15 is the ratio of profits (after income taxes) to
sales of manufacturing corporations. The profits data
reflect conventional accounting methods and are based
on corporations' books of account, not on profits com­
puted for tax purposes. The estimates are based on
consolidated financial statements collected quarterly
from stratified probability samples of manufacturing
corporations drawn from Federal income tax returns.
Since the third quarter of 1977, corporations with assets
of less than $250,000 and new births are no longer
sampled; data for these segments are estimated by
multivariate techniques.
The data are affected by the reclassification of com­
panies in the sample in the first quarter of each year to
reflect changes in their Standard Industrial Classifica­
tion and by conceptual changes in the survey. To pro­
vide comparability, only the four quarters of the previ­
ous year are revised to reflect these changes. Retroactive
changes in tax rates are not incorporated into the data.
From 1947 to 1973, foreign operations became an
increasingly significant portion of the data. In the fourth
quarter of 1973, the sample was restructured to cover
consolidated domestic operations only. Corporate or
noncorporate foreign entities, foreign branches, and
domestic corporations primarily engaged in foreign
operations were excluded from the consolidated reports.
The present sample of approximately 7,300 corpora­
tions was drawn from a population of approximately
280,000 corporations. All manufacturing corporations
with assets greater than $25 million are included—these
account for 87 percent of the total assets of manufac­
turing corporations. The composition of the sample
changes each quarter to relieve small-size corpora­
tions of the burden of reporting over a long period and
to reflect the effect of corporate births, deaths, acqui­
sitions, divestitures, mergers, and consolidations. About
one-eighth of the sample segments of small-size cor­
porations (those with assets of $25 million or less) is
replaced each quarter.
The Federal Trade Commission was responsible for
the collection and compilation of the data from their
inception in 1947 through 1982. That responsibility
was shared with the Securities and Exchange Commis­
sion until 1971. Beginning in 1983, the Bureau of the
Census is responsible for the quarterly financial report
series. The data are seasonally adjusted by the U.S.
Department of Commerce, Bureau of Economic Analysis.
In BCD, series 15 appears under the economic pro­
cess "prices, costs, and profits."

PRICE PER UNIT OF LABOR COST
Series 26.
Source:

Ratio, implicit Price Deflator to Unit Labor
Cost, Nonfarm Business Sector
U.S. Department of Commerce, Bureau of
Economic Analysis; U.S. Department of Labor,
Bureau of Labor Statistics

(Data contained in this series are seasonally adjusted.)

28



SERIES 26 is an index (1977 = 100) based on the ratio
of price to unit labor cost of output in the nonfarm
business sector. The ratio is computed by dividing the
implicit price deflator for gross domestic product by
unit labor cost.
The implicit price deflator is derived by dividing the
current-dollar estimate by the constant-dollar esti­
mate of gross domestic product originating in the nonfarm business sector. This product is defined as the
market value of goods and services produced by nonfarm business with labor and property located in the
United States, before deductions of depreciation charges
and other allowances for consumption of fixed capital
goods and after deduction of other expenses. Gross
domestic product is estimated by the Bureau of Eco­
nomic Analysis.
Unit labor cost measures the labor compensation
cost required to produce one unit of output. It is derived
by dividing compensation per hour by output per hour
and is computed by the Bureau of Labor Statistics.
Compensation per hour measures the hourly costs of
wages and salaries and supplemental payments (employ­
er contributions for social insurance and to private
pension and welfare funds, and directors' fees) in the
nonfarm business sector. The series also includes esti­
mates of net income and supplements of the selfemployed in the nonfarm business sector. Output per
hour is the ratio of constant-dollar gross product
originating in the nonfarm business sector to the cor­
responding hours worked by persons engaged in the
sector.
The two components used to compute the ratios are
adjusted for seasonal variations.
In BCD, series 26 appears under the economic pro­
cess "prices, costs, and profits."

LABOR COST PER UNIT OF OUTPUT
Series 63.
Index of Unit Labor Cost, Business Sector
Source: U.S. Department of Labor, Bureau of Labor
Statistics
Series 68.

Source:
Series 62.
Source:

Labor Cost in Current Dollars Per Unit of
Gross Domestic Product in 1972 Dollars,
Nonfinancial Corporations
U.S. Department of Commerce, Bureau of
Economic Analysis
Index of Labor Cost Per Unit of Output,
Manufacturing
U.S. Department of Commerce, Bureau of
Economic Analysis; Board of Governors of
the Federal Reserve System

(Data contained in these series are seasonally adjusted.)
LABOR cost includes wages and salaries and supple­
ments to wages and salaries. Wages and salaries con­
sist of monetary remuneration of employees, including
compensation of corporate officers; commissions, tips

The Handbook of Cyclical Indicators

and bonuses; and payments in kind that represent income
to the recipients. Supplements to wages and salaries
consist of employer contributions for social insurance
and to private pension and welfare funds, and direc­
tors' fees.
Gross domestic product is the market value of goods
and services produced with labor and property located
in the United States, before deductions of depreciation
charges and other allowances for consumption of fixed
capital goods and after deductions of other expenses.
In BCD, series 63, 68, and 62 appear under the
economic process "prices, costs, and profits."

SERIES 63 is an index (1977=100) that measures chang­
es in the cost of labor input required to produce one
unit of output in the business sector. It is derived by
dividing compensation per hour by output per hour and
converting the resulting ratio to an index.
Compensation per hour measures the hourly costs
of wages and salaries and supplemental payments in
the business sector. The series also includes estimates
of wages, salaries, and supplements of the self-em­
ployed.
Output per hour is the ratio of constant-dollar gross
domestic product originating in the business sector to
the corresponding hours worked by persons engaged
in the sector.
The two components used to compute the ratios are
adjusted for seasonal variation.

SERIES 68 measures the current-dollar labor cost (com­
pensation of employees) incurred by nonfinancial cor­
porations to produce one 1972 dollar's worth of output. It
is computed by taking the ratio of compensation of
employees in current dollars to gross domestic prod­
uct in 1972 dollars for nonfinancial corporate business.
Nonfinancial business includes all companies other
than those engaged in banking; credit agencies other
than banks; security and commodity brokers, dealers,
and services; insurance carriers; regulated investment
companies; small business investment companies; and
real estate investment trusts.
Real gross domestic product originating in nonfinan­
cial corporations is equal to the current-period quantities
of gross product of these corporations attributable to
labor and property located in the United States valued
at 1972 prices. It consists of sales by these firms to
other businesses, consumers, government and foreign­
ers, plus additions to their inventories, less their cur­
rent purchases from domestic and foreign sources.

index of compensation of employees in manufacturing
to the manufacturing component of the industrial pro­
duction index and converting the resulting ratios to an
index.
The compensation of employees (labor cost) in manu­
facturing measures the income received by employees
in manufacturing industries as remuneration for their
work. It includes wages and salaries and supplements
to wages and salaries. These seasonally adjusted data,
which are computed by the Bureau of Economic Analy­
sis, are converted to an index (1967 = 100). (For a
more detailed description, see the Compensation of
Employees section in this Handbook.)
The seasonally adjusted index (1967 = 100) of the
manufacturing component of industrial production is a
measure of changes in physical manufacturing output
in the United States. Data are prepared by the Board of
Governors of the Federal Reserve System and are based
on data compiled by government agencies and by vari­
ous trade organizations. (For a more detailed descrip­
tion, see the Industrial Production section in this
Handbook.)
Data for series 62 are shown in BCD in index form
and as a percent of the trend of the index. The percent
of trend computations use the "phase average trend"
(PAT) procedures, which are part of the National Bureau
of Economic Research growth cycle methodology. It
consists of the following steps:
1. Taking the deviations in the original data from a
75-month moving average.
2. Using the turning points in the deviation series
to determine phases of cyclical expansions and
contractions for the series.
3. Computing the average value for each cyclical
phase (phase-average).
4. Taking a 3-term moving average of the phase
averages (triplets).
5. Computing trend lines between the triplets.
6. Adjusting the level of the trend line so that the
sum of its values equals the sum of the data
values.
7. Extrapolating the trend line at both ends of the
series.
The ratio (multiplied by 100) of the index of labor cost
per unit of output to the PAT yields the series, "Actual
data as a percent of trend."

MONEY SUPPLY MEASURES
SERIES 62 is an index (1967 = 100) that measures the
relationship between the volume of production of manu­
factured goods and the cost of labor involved in that
production. It is computed by taking the ratio of the

BCD 1984



Series 85.
Series 102.
Series 104.
Series 105.

Change in Money Supply M l
Change in Money Supply M2
Change in Total Liquid Assets
Money Supply M l in 1972 Dollars

29

Series 106.
Series 107.

Money Supply M2 in 1972 Dollars
Ratio, Gross National Product to Money
Supply M l
Series 108. Ratio, Personal Income to Money Supply
M2
Source: Board of Governors of the Federal Reserve
System; U.S. Department
of Commerce,
Bureau of Economic Analysis
(Data contained in these series are seasonally adjusted.)
THE different money supply measures are popularly
known by the abbreviations M l , M2, etc. The money
supply series shown in BCD are the M l , M2, and total
liquid assets versions. M3, which is not shown sepa­
rately, is included in liquid assets. Deposits held by
foreign banks and governments, official institutions,
and the U.S. Government are excluded from each of
the series. Consolidation adjustments have been made
in the construction of each series, to avoid double
counting of the public's monetary assets. The major
adjustment involves the netting of deposits held by
depository institutions with other depository institu­
tions.
The M l version of the money supply consists of:
1. Currency outside the Treasury, the Federal
Reserve banks, and the vaults of commercial
banks.
2. Outstanding amounts of U.S. dollar-denominated
travelers checks of nonbank issuers.
3. Demand deposits at commercial banks and cer­
tain foreign-related institutions, less cash items
in the process of collection, Federal Reserve
float, and foreign demand balances at Federal
Reserve banks.
4. Interest-earning checkable deposits consisting of
negotiable order of withdrawal (NOW) and auto­
matic transfer service (ATS) accounts at deposi­
tory institutions other than credit unions, credit
union share draft accounts, and demand deposits
at thrift institutions.
The consolidation adjustment removes demand deposits
held by commercial banks with other commercial banks
and the demand deposits held by thrift institutions that
are estimated to be used in servicing their checkable
deposits.
M2 consists of M l plus:
1. Money market deposit accounts, savings and
small-denomination time deposits (time de­
posits—including retail repurchase agreements—
issued in denominations of less than $100,000)
at all depository institutions.
2. Overnight (and continuing contract) repurchase
agreements issued by commercial banks and

30



certain overnight Eurodollars (those issued by
Caribbean branches of member banks) held by
U.S. nonbank residents.
3. Balances in both taxable and tax-exempt gen­
eral purpose and broker/dealer money market
mutual funds (MMMF).
Keogh and individual retirement account balances at
depository institutions and in MMMF's are excluded.
Consolidation adjustments are made to remove demand
deposits held by thrift institutions (not already removed
in M l ) , savings and time deposits held by depository
institutions, and assets held by MMMF's.
'Total liquid assets" includes M2 plus:
1. Large-denomination time deposits (issued in
denominations of $100,000 or more) at all
depository institutions (including negotiable cer­
tificates of deposit), term repurchase agree­
ments issued by commercial banks and thrift
institutions, and institution-only money market
mutual fund shares.
2. Other liquid assets, including nonbank public
holdings of U.S. savings bonds, short-term Trea­
sury obligations, bankers acceptances, commer­
cial paper, and term Eurodollars held by U.S.
residents.
Consolidation adjustments are made to remove deposits
and assets of MMMF's and depository institutions.
Data for M l and M2 are averages of daily data for
member banks and estimates of nonmember bank
deposits. Prior to 1980, estimates of nonmember bank
deposits were based on quarterly call report data and
the relationship of nonmember and small member bank
deposits to member bank deposits on those dates;
since January 1980, the nonmember component has
been derived from a sample of nonmember banks report­
ing daily data on a weekly basis. Estimates of M l are
available on a monthly and weekly basis; estimates of
M2 and liquid assets are available only on a monthly
basis.
In BCD, these series appear under the economic
process "money and credit."

SERIES 85 is based on the M l version of money supply.
It is derived by computing month-to-month percent
changes in the seasonally adjusted data for M l .

SERIES 102 is based on the M2 version of money sup­
ply. It is derived by computing month-to-month percent
changes in the seasonally adjusted data for M2.
Data for M2 begin in 1959. For the period prior to
1959, when separate data for certificates of deposit

The Handbook of Cyclical Indicators

were not available, total time deposits have been used
to compute the percent changes.

SERIES 104 is based on the total liquid assets version
of money supply. It is derived by first computing monthto-month percent changes in liquid assets, and then
smoothing the changes by computing 4-term moving
averages (weighted 1,2,2,1) and placing them on the
terminal month of the span. Both the monthly and
smoothed changes are shown in BCD.

SERIES 105 and 106 are measures of real (1972 dol­
lars) money balances based on the M l and M2 versions
of money supply, respectively. The series are deflated
by the Consumer Price Index for All Urban Consumers
(CPI-U) compiled by the U.S. Department of Labor,
Bureau of Labor Statistics (BLS). The deflator is series
320 converted to a 1972 = 100 base and seasonally
adjusted by the Bureau of Economic Analysis using
seasonal factors provided by BLS.

SERIES 107 is a measure of the velocity of money. It is
computed as the ratio of gross national product for the
quarter (series 200) to the quarterly average of the M l
version of money supply.

SERIES 108 is a measure of the velocity of money. It is
computed as the ratio of personal income (series 223)
to the M2 version of money supply.

BUSINESS AND CONSUMER BORROWING
Series 111.
Source:

Change in Business and Consumer Credit
Outstanding
Board of Governors of the Federal Reserve
System; The Federal Reserve Bank of New
York; Federal Home Loan Bank Board; U.S.
Department of Commerce, Bureau of Economic Analysis

(Data contained in this series are seasonally adjusted.)
SERIES 111, which measures the month-to-month
percent change in business and consumer credit
oustanding, is compiled by the Bureau of Economic
Analysis (BEA) by combining the following series and
computing the change:

Real estate loans of weekly reporting large commercial banks.—This component measures the amount
of outstanding loans, as of the last Wednesday of the
month, held by large commercial banks and secured
primarily by real estate (as evidenced by mortgages,
deeds of trust, land contracts, or other liens on real
estate; residential properties that are extended, col­
lected, and serviced by a bank and guaranteed by the
Farmers Home Administration; and loans secured
primarily by properties guaranteed by government
entities in foreign countries). Pooled mortgages against
which certificates guaranteed by the Government
National Mortgage Association have been issued, loans
to real estate companies and mortgage lenders that
specialize in mortgage loan originations and that ser­
vice mortgages for others, mortgage-backed bonds
issued by the Federal Home Loan Mortgage Corpora­
tion, and notes issued by the Farmers Home Admin­
istration are excluded. The data are compiled by the
Board of Governors of the Federal Reserve System
and are seasonally adjusted by BEA.
The series has a major discontinuity in January 1972.
From 1972 to date, the data cover about 170 of the
largest commercial banks in the United States, both
members and nonmembers of the Federal Reserve
System. These banks had assets of $750 million or
more in their domestic offices as of December 3 1 ,
1977. Prior to January 1972, the data cover about
320 banks with significant changes in the composi­
tion of the sample occurring in 1965 and 1959. Effective
with data for July 1965, the series reflects banking
conditions in (but not outside) the larger cities and
includes all branches of reporting banks, regardless
of size. The June 1959 revision was instituted to
improve bank coverage.
Mortgage loans held by savings and loan associations.
—This component measures the end-of-month
amount of outstanding mortgage loans held by asso­
ciations affiliated with the U.S. Savings and Loan
League. These loans represent over 98 percent of
the resources of all operating savings and loan asso­
ciations. The data are compiled by the Federal Home
Loan Bank Board and are seasonally adjusted by BEA.
In BCD, series 111 appears under the economic pro­
cess "money and credit."

MORTGAGE DEBT
Series 33.

Consumer installment credit (series 66).—For a
description of this series, see Consumer Installment
Credit section in this Handbook.
Commercial and industrial loans (series 72).—For a
description of this series, see Commercial and Industrial Loans section in this Handbook.

BCD 1984



Source:

Net Change in Mortgage Debt Held by
Financial Institutions and Life Insurance
Companies
American Council of Life Insurance; Federal
National Mortgage Association; U.S. Department of Housing and Urban Development;
Government National Mortgage Association;
National Association of Mutual Savings Banks;

31

Federal Home Loan Bank Board; Board of
Governors of the Federal Reserve System;
U.S. Department of Commerce, Bureau of
Economic Analysis
(Data contained in this series are seasonally adjusted.)
SERIES 33 measures the month-to-month amount of
change in mortgage debt held by selected financial
institutions and life insurance companies. It is defined
as the volume of mortgage loans acquired, less the
volume of loans disposed of, by these organizations
from one month to the next. This net change is called
the "net flow," which usually can increase only to the
extent that the organizations increase their resources
or increase the proportion of their assets held in the
form of mortgage loans. Mortgage lending financed by
the proceeds received from loan repayments or from
sales of loans to other investors does not affect the net
change.
The term "mortgage l o a n " denotes indebtedness
incurred by private borrowers and secured by a mort­
gage or other lien on real property located within the
United States and its territories and possessions. A
mortgage loan may be used to finance the acquisition
of newly constructed property, the purchase of exist­
ing property, the improvement of existing property
through the execution of a new loan or by an add-on
under an existing loan, construction by a builder, or the
holding of unimproved land by a developer. A mortgage
loan may be used to refinance an outstanding loan. It
also may be for non-real estate purposes or for the
purchase of a money loan wherein the lender sells
property on which he takes back the mortgage loan as
partial or full payment. Or, a mortgage may enable the
borrower to pay for a property acquisition from a third
party.
Data are collected from a variety of sources: The
American Council of Life Insurance reports data for life
insurance companies, including all active mortgage loans
plus foreclosed liens subject to redemption. The data
are based on reports from life insurance companies
that represent 88 percent of the industry. The Federal
National Mortgage Association reports monthly purchas­
es and sales of mortgages originated by private lenders
and loans used to back bond issues guaranteed by the
Government National Mortgage Association. The Nation­
al Association of Mutual Savings Banks (NAMSB) com­
piles data for mortgage and construction loans held by
mutual savings banks. These data are based on month­
ly reports to NAMSB by savings banks that hold over 90
percent of the industry's deposits and on benchmark
figures obtained from a semiannual NAMSB survey of
all savings banks. The Federal Home Loan Bank Board
collects data from savings and loan associations. The
Board of Governors of the Federal Reserve System
compiles data on mortgage loans held by commercial
banks. These are loans secured primarily by real estate
and include loans evidenced by mortgages, deeds of

32



trust, land contracts, or other liens on real estate;
loans on residential properties that are extended, col­
lected, and serviced by a bank and are guaranteed by
the Farmers Home Administration; and loans secured
primarily by properties and guaranteed by government
entities in foreign countries. Pooled mortgages against
which certificates guaranteed by the Government
National Mortgage Association have been issued, loans
to real estate companies and mortgage lenders that
specialize in mortgage loan originations and the servicing
of mortgages for others, mortgage backed bonds issued
by the Federal National Mortgage Association or by the
Federal Home Loan Mortgage Corporation, and notes
issued by the Farmers Home A d m i n i s t r a t i o n are
excluded.
The data are seasonally adjusted by the Bureau of
Economic Analysis.
In BCD, series 33 appears under the economic pro­
cess "money and credit."

COMMERCIAL AND INDUSTRIAL LOANS
Series 72.

Commercial and Industrial Loans Out­
standing in Current Dollars
Series 101. Commercial and Industrial Loans Out­
standing in 1972 Dollars
Series 112. Net Change in Business Loans
Source: Board of Governors of the Federal Reserve
System; The Federal Reserve Bank of New
York; U.S. Department of Commerce, Bureau
of Economic Analysis
(Data contained in these series are seasonally adjusted.)
SERIES 72 measures the weekly average amount of
business loans outstanding per month. It is compiled
by the Bureau of Economic Analysis (BEA) by summing
the following components: (1) Balances outstanding
on loans for commercial and industrial purposes held
or sold outright by large commercial banks (except
loans secured by real estate, loans to financial institu­
tions, and loans to purchase or carry securities) and
(2) commercial paper issued by nonfinancial companies.
The data for commercial and industrial loans held by
commercial banks are collected by the Board of Gov­
ernors of the Federal Reserve System. These reports
cover the amount of bank-held commercial and indus­
trial loans outstanding as of each Wednesday and the
amount of loans sold outright during each week to the
banks' own foreign branches; the banks' nonconsolidated, nonbank affiliates; the banks' holding compa­
nies (if they are not banks); and nonconsolidated, nonbank subsidiaries of the holding companies. Prior to
August 28, 1974, series 72 only covers the amount of
commercial and industrial loans outstanding; beginning
August 28, 1974, the series also includes bank-held
outstanding balances.
The series has a major discontinuity in January 1972.
From 1972 to date, the data cover about 170 of the

The Handbook of Cyclical Indicators

largest commercial banks in the United States, both
members and nonmembers of the Federal Reserve
System. These banks had assets of $750 million or more
in their domestic offices as of December 31, 1977. Prior
to January 1972, the data cover about 320 banks with
significant changes in the composition of the sample
occurring in 1965 and 1959. Effective with data for July
1965, the series reflects banking conditions in (but not
outside) the larger cities and includes all branches of
reporting banks, regardless of size. The June 1959 revi­
sion was instituted to improve bank coverage.
BEA computes the arithmetic mean of the weekly
data for the month. Beginning with November 1968,
BEA also seasonally adjusts the monthly data; prior to
that date, the National Bureau of Economic Research
seasonally adjusted the data.
The data for commercial paper issued by nonfinancial companies include high-grade, unsecured, shortterm, negotiable, promissory notes issued by major
nonbank corporations and sold through dealers or direct­
ly to investors—usually other companies. Nonfinancial
companies include public utilities and companies en­
gaged in communications, construction, mining, man­
ufacturing, wholesale and retail trade, transportation,
and services. Data are collected by The Federal Reserve
Bank of New York primarily from ten commercial paper
dealers (brokers) who report all commercial paper they
handle. Additional data are obtained from about 37
firms that make direct (i.e., nonbroker) issues of com­
mercial paper in excess of $100 million. The data refer
to the last Wednesday of the month. They are compiled
and seasonally adjusted by The Federal Reserve Bank
of New York.
In BCD, series 72 appears under the economic pro­
cess "money and credit."

SERIES 101 measures commercial and industrial loans
outstanding (series 72) in constant (1972) dollars. BEA
uses the Producer Price Index, All Commodities, com­
piled by the U.S. Department of Labor, Bureau of Labor
Statistics, as the deflator.
In BCD, series 101 appears under the economic pro­
cess "money and credit."

SERIES 112 measures the month-to-month amount of
change in commercial and industrial loans outstanding
(series 72).
In BCD, series 112 appears under the economic pro­
cess "money and credit."

CONSUMER INSTALLMENT CREDIT

Source:

Ratio, Consumer Installment Credit Out­
standing to Personal Income
Board of Governors of the Federal Reserve
System; U.S. Department
of Commerce,
Bureau of Economic Analysis

(Data contained in these series are seasonally adjusted.)
THESE series provide estimates of most short- and
intermediate-term credit used to finance the purchase of
commodities and services for personal consumption,
or to refinance debts originally incurred for such a
purpose.
The term "credit" means an advance of purchasing
power that can be used to obtain goods and services,
or an advance of goods and services in exchange for a
promise to pay at a later date. "Consumption" refers
to the process of using goods and services as an end in
itself, rather than for further production. Credit extended
to government agencies, nonprofit or charitable or­
ganizations, farmers, businesses, and individuals for
business purposes is excluded.
Installment credit includes consumer credit held by
financial institutions, retail outlets, and gasoline com­
panies that is scheduled to be repaid, or with the option of
repayment, in two or more installments. Financial institu­
tions hold about 90 percent of the reported consumer
credit outstanding; retail outlets and gasoline compa­
nies hold the remainder. Specific categories of con­
sumer credit are automobile paper, including both direct
and indirect loans (purchased paper); revolving credit;
mobile home credit; and " o t h e r " installment loans,
which include loans for home improvement, other con­
sumer goods, and personal cash loans. Home mort­
gage financing generally is excluded.
The consumer installment credit estimates are based
on comprehensive benchmark data that become avail­
able periodically, and monthly sample data obtained
through the cooperation of lenders and other credit
grantors. The monthly sample is used to interpolate
estimates between benchmarks and to extrapolate esti­
mates from the latest benchmark. The major portion of
financial institution data is obtained from Federal Reserve
banks, the National Association of Mutual Savings Banks,
the Federal Home Loan Bank Board, and reports of
finance companies. Retail outlet data are estimated
from the U.S. Department of Commerce, Bureau of the
Census surveys of sales and accounts receivable.
In BCD, series 66, 113, and 95 appear under the
economic process "money and credit."

SERIES 66 measures the amount of consumer install­
ment credit outstanding at the end of each month.

Series 66.
Series 113.
Source:

Consumer Installment Credit Outstanding
Net Change in Consumer Installment
Credit
Board of Governors of the Federal Reserve
System

Series 95.

BCD 1984



SERIES 113 measures the change during the month in
the amount of consumer installment credit outstanding.
It is defined as the amount of consumer installment

33

credit extended less the amount liquidated (including
repayments, charge-offs, and other credits) during
the month. Each monthly change is computed by sub­
tracting the seasonally adjusted amount outstanding
at the end of the previous month from the amount
outstanding at the end of the current month.

SERIES 95 is the ratio of the amount of consumer install­
ment credit outstanding to personal income (series
223) expressed as a percent. Consumer installment
credit outstanding is described above. (Series 223 is
described in the Personal Income section in this Handbook.)

TOTAL PRIVATE BORROWING
Series 110.
Source:

Funds Raised by Private Nonfinancial
Borrowers in Credit Markets
Board of Governors of the Federal Reserve
System

(Data contained in this series are seasonally adjusted.)
SERIES 110 measures the amount of funds raised less
debt repaid each quarter in U.S. credit markets by
households, State and local governments, and nonfi­
nancial businesses. Nonfinancial businesses include pub­
lic utilities and companies engaged in communications,
construction, mining, manufacturing, wholesale and
retail trade, transportation, and services. Both domestic
and foreign borrowers are included. The forms of credit
covered are security issues (including corporate stock
flotations), mortgages, consumer credit, business and
farm loans from banks, Federal loans to businesses and
farms, commercial paper, and acceptances. All securi­
ty credit and loans to financial businesses are excluded.
In BCD, series 110 appears under the economic pro­
cess "money and credit."

LIABILITIES OF BUSINESS FAILURES
Series 14.
Current Liabilities of Business Failures
Source: Dun & Bradstreet, Inc.
(Data contained in this series are not seasonally
adjusted.)
A business failure is defined as "a concern that is involved
in a court proceeding or a voluntary action that is likely
to end in loss to creditors." Series 14 includes indus­
trial and commercial enterprises that are petitioned
into Federal Bankruptcy Courts; concerns that are forced
out of business through actions in the State courts,
such as foreclosure, execution, and attachments with
insufficient assets to cover all claims; concerns involved
in court actions, such as receivership, reorganization,
or arrangement; voluntary discontinuances with known
loss to creditors; and voluntary compromises with credi­

34



tors out of court, where obtainable. Major industries
not included are finance, insurance, real estate, amuse­
ment and recreational services, health services, legal
services, educational services, social services, muse­
ums, membership organizations, and miscellaneous ser­
vices. Private households also are excluded.
Liabilities approximately represent current obligations.
They include accounts and notes payable and obligations,
whether in secured form or not, known to be held by
banks, officers, affiliated companies, supplying com­
panies, or the Government. They do not include longterm, publicly held obligations. No adjustments are
made for offsetting assets. Approximately 95 percent
of the failures involve liabilities of less than $1 million.
Data on failures are collected throughout the 50 States
and the District of Columbia. Dun & Bradstreet report­
ers make daily checks of court records for court-action
cases. Data for noncourt cases are collected from local
credit management groups and boards of trade, and by
the reporters who make regular rounds of interviews
and note closings of stores that leave unpaid credit
commitments. The reporters also scan sales notices in
newspapers, attachments, sheriff's sales, and auctions.
The statistics are compiled by combining these reports.
The series is inversely related to broad movements in
aggregate economic activity.
In BCD, series 14 appears under the economic pro­
cess "money and credit."

DELINQUENT LOANS
Series 39.
Source:

Percent of Consumer Installment Loans
Delinquent 30 Days and Over
American Bankers Association

(Data contained in this series are seasonally adjusted.)
SERIES 39 measures the number of delinquent, con­
sumer installment loans held by commercial banks as a
percentage of the number of consumer installment
loans outstanding at these banks. Installment loans are
those requiring repayment in two or more scheduled
payments; a delinquent loan is one having an install­
ment past due for 30 days or more. Prior to October
1963, the data are simple averages of delinquency rates
for the following types of consumer installment loans:
Automobile loans, including both direct and indirect
loans (purchased paper); home improvement loans,
including both Federal Housing Administration (FHA)
insured and uninsured loans; other consumer goods
loans; and persbnal cash loans. Beginning October 1963,
the data are weighted averages of these types of loans
with weights based on the number of banks in each
State. The survey was expanded in August 1970 to
include loans for mobile homes and again in February
1973 to include loans for recreational vehicles, bank
card loans, and revolving credit. However, the weight­
ed averages in BCD exclude bank card loans and revolv­
ing credit.

The Handbook of Cyclical Indicators

The survey sample includes approximately 1,800
commercial banks randomly selected to provide cov­
erage by bank size in the 50 States and the District of
Columbia.
For January 1948 through October 1964, the delin­
quency rates are available for the last day of each
month. From December 1964 to December 1974, they
are available for the last day of February, April, June,
August, October, and December. Beginning in January
1975, they are available again for the last day of each
month.
The series is inversely related to broad movements
in aggregate economic activity.
In BCD, series 39 appears under the economic pro­
cess "money and credit."

The series is inversely related to broad movements in
aggregate economic activity.
In BCD, series 93 appears under the economic pro­
cess "money and credit."

SERIES 94 measures the amount member banks have
borrowed from Federal Reserve banks. The borrowing
is done to obtain, on a temporary basis, reserve funds
needed to cover required reserves. The Board's Regu­
lation A, which governs lending by Federal Reserve
banks, was revised (effective April 19, 1973) to help
smaller banks meet seasonal borrowing needs of their
communities.
In BCD, series 94 appears under the economic pro­
cess "money and credit."

BANK RESERVES
Series 93.
Series 94.

Free Reserves
Member Bank Borrowings from the Fed­
eral Reserve
Source: Board of Governors of the Federal Reserve
System

(Data contained in these series are not seasonally
adjusted.)
EXCESS reserves and borrowings from the Federal
Reserve System are reported by the approximately
5,800 banks that are members of the Federal Reserve
System. Weekly data are averages of daily figures (closeof-day figures for borrowings) reported by member
banks to the Federal Reserve each week. Beginning
September 12, 1968, daily data cover the 2-week period
ending on the Wednesday prior to the reporting date.
The monthly estimates, published in BCD, are com­
puted by averaging available weekly data.
Required reserves are minimum balances that must
be maintained by member banks pursuant to Federal
Reserve regulations. These reserve requirements, which
can be changed by the Board of Governors of the Fed­
eral Reserve System, are specified as percents of deposit
liabilities and vary by type of deposits. Prior to Decem­
ber 1959, the only permissible legal reserves were bal­
ances with the Federal Reserve banks; since then, the
inclusion of vault cash is allowed.

SERIES 93 measures the difference between the excess
reserves of member banks and their borrowings from
the Federal Reserve System—or, equivalent^, the dif­
ference between member bank reserve balances and
the sum of their required reserves and their borrow­
ings from the System. When excess reserves exceed
total borrowings, the difference is termed "free re­
serves/' Conversely, when borrowings exceed excess
reserves, the difference is t e r m e d " n e t borrowed
reserves/' The amount of free reserves is a partial
reflection of the banks' ability to make additional loans.

BCD 1984



INTEREST RATES
Series 119.
Series 114.
Source:

Federal Funds Rate
Discount Rate on New Issues of 91-Day
Treasury Bills
Board of Governors of the Federal Reserve
System

Series 115. Yield on Long-Term Treasury Bonds
Source: U.S. Department of the Treasury
Series 116.

Yield on New Issues of High-Grade Cor­
porate Bonds
Source: Citibank; U.S. Department of the Treasury

Series 117. Yield on Municipal Bonds, 20-Bond Average
Source: The Bond Buyer
Series 118.

Secondary Market Yields on FHA Mort­
gages
Source: U.S. Department of Housing and Urban Development, Federal Housing Administration

Series 67.
Bank Rates on Short-Term Business Loans
Series 109. Average Prime Rate Charged by Banks
Source: Board of Governors of the Federal Reserve
System
(Data contained in these series are not seasonally
adjusted.)
SERIES 119 measures the interest rate charged on
unsecured, overnight loans available for use on the
same day. Such loans, which are made by a number of
institutions (commercial banks, savings banks, savings
and loan associations, U.S. Government agencies, and
branches and agencies of foreign banks), normally result
in the transfer of ownership of reserve balances that
member commercial banks hold at Federal Reserve
banks. In many cases, a Federal funds loan is arranged
directly between two member commercial banks—for
example, a bank with excess reserves may lend part of
its Federal Reserve balance to a bank that has a short­
age of reserves.

35

The monthly series is the average of daily effective
rates for the month. Through the week ending July 18,
1973, the daily effective rate reflects the most repre­
sentative rate of the day—usually the one at which
most transactions occurred. Since that date, it is an
average of the rates charged on a given day, weighted
by the volume of transactions at each rate. Rates for
weekends and holidays are considered to be the same
as those for the preceding working day.
In BCD, series 119 appears under the economic pro­
cess "money and credit."

SERIES 114 measures, on a bank discount basis, the
average rate of interest set in the weekly auction of
new 91-day Treasury bills. In the auction, each potential
buyer specifies the price he is willing to pay and the
amount of bills he wishes to buy; awards are made to
the highest bidders. For each week's issue, the aver­
age rate of interest is based on the weighted average of
the prices at which the various portions of the issue are
sold. The monthly series is the average of the four or
five weekly rates for each month. (These auction rates
are similar to, but not the same as, market rates; the
latter are rates on outstanding bills, based on daily
trading quotations.)
The auction average rate for each week is dated as of
the date of issue of the bills, usually a Thursday, even
though the auction usually occurs on the Monday of
that week or, at times, on Friday of the preceding
week. Therefore, the monthly average of weekly rates
sometimes includes the results of an auction that
occurred late in the preceding month.
In BCD, series 114 appears under the economic pro­
cess "money and credit."

SERIES 115 measures the average yield on fully taxa­
ble, long-term, U.S. Treasury bonds. Bond yields are
computed by the U.S. Department of the Treasury,
based on prices reported to it by The Federal Reserve
Bank of New York. Beginning in April 1953, yields are
based on a composite of daily closing-bid quotations in
the New York over-the-counter market. Before April
1953, they were based on the mean of the closing
bid-and-ask quotations.
The monthly series represents monthly averages of
daily yields of bonds that are neither due nor callable
for a specified number of years. Prior to April 1952, the
requirement was 15 years; from April 1952 through
March 1953, it was 12 years; and, since April 1953, it
has been 10 years.
In BCD, series 115 appears under the economic pro­
cess "money and credit."

SERIES 116, for the period 1948-59, is a weighted aver­
age of the reoffering yields on new high-grade corpo­

36



rate bonds offered during the month, weighted by the
size of the offerings. The series includes new public
offerings rated Aaa, Aa, or A by Moody's Investors Ser­
vice, with the exception of serial bonds, convertible
debentures, equipment trust certificates, and offerings
by natural gas transmission or foreign companies. Before
averaging, the yields on Aa and A issues are adjusted to
the level of the Aaa yields. The adjustments are based
on the difference between average yields of these cor­
porate bonds and the Aaa bonds outstanding during
the month reported by Moody's. The series was com­
puted by Citibank (formerly the First National City Bank of
New York).
Beginning with 1960, the series is an estimated month­
ly average of the reoffering yields on new Aa bonds
having an original maturity of at least 20 years, and is
based on weekly computations by the U.S. Department
of the Treasury. Prior to June 1973, the series is adjusted
to reflect bonds without call protection; from June
1973 to July 1976, it is based on bonds with 5-year call
protection; and since July 1976, it reflects bond yields
regardless of the call protection offered. It excludes
the same offerings as the Citibank series, except for
natural gas transmission companies, which are includ­
ed in the Treasury data. Although Aa bonds are not the
most common among the quality ratings, they are
numerous enough to provide a meaningful series.
In BCD, series 116 appears under the economic pro­
cess "money and credit."

SERIES 117 is the monthly average of The Bond Buyer
weekly index of yields for 20 new municipal bonds. This
index is an average of the market values (yields) of
general obligation bonds of 20 issuing bodies that include
States, cities, and school districts. The computations
are not necessarily based on specific issues; the yields
used are those applicable to bonds selling near par with
about 20 years to maturity. Issues rated in the top five
classifications by Moody's Investors Service are used,
with concentration in the second and third classes.
Substitutions in the list of issuing bodies are made
occasionally to keep the index abreast of the market.
In BCD, series 117 appears under the economc pro­
cess "money and credit."

SERIES 118 is a national average of monthly estimates
of secondary-market prices for Federal Housing Ad­
ministration (FHA)-insured, new-home mortgages. Pric­
es are based on opinion reports from FHA field offices
on the first of each month. These reports, which cover
transactions in their market areas, represent net cur­
rent transactions after allowances for discounts,
commitment fees, or other charges exclusive of Fed­
eral National Mortgage Association (FNMA) activity.
Before March 1956, the national average prices are
unweighted; subsequently, the price data are weighted

The Handbook of Cyclical Indicators

to reflect the probable volume of transactions in each
office area.
Beginning in 1961, the yields of secondary-market
prices are based on mortgages that have an original
maturity of 30 years, are assumed to be prepaid in 12
years beginning in 1977 and in 15 years prior to 1977,
and carry FHA's maximum permissible interest rate.
Prior to 1961, they are based on mortgages that have
an original maturity of 25 years, are assumed to be
prepaid in 12 years, and carry FHA's maximum per­
missible interest rate.
Transactions are for immediate delivery in the sec­
ondary market, and exclude seasoned mortgages or
deliveries to the FN MA and other federally related institu­
tions. Before 1956, prices represent typical transac­
tions; from January 1956 to July 1961, they represent
new-home mortgages with a 25-year maturity and a
10 percent downpayment; after July 1961, they repre­
sent new-home mortgages with a 30-year maturity
and the minimum downpayment.
In BCD, series 118 appears under the economic pro­
cess "money and credit."

SERIES 67 is the weighted average of interest rates
charged on new short-term (1 year or less) business
loans or renewals.
For 1948 through 1966, the average rate charged on
loans or renewals by 66 banks in 19 cities during the
first 15 days of March, June, September, and Decem­
ber was used. Averages (weighted by the relative impor­
tance of loan-size groups based on the volume of loans
outstanding in loan portfolios of reporting banks on
November 20, 1946) were computed for each of four
loan-size groups and then combined. The survey included
loan sizes of $1,000 to $9,999; $10,000 to $99,999;
$100,000 to $199,999; and $200,000 and over.
The survey was revised in 1967. The average rate
charged on loans and renewals by 126 banks in 35
cities during the first 15 days of February, May, August,
and November was substituted; business installment
loans and loans to foreign businesses were dropped;
and loan-size categories were revised to take account
of the upward shift in the size of business loans. The
new loan-size groups were $1,000 to $9,999; $10,000
to $99,999; $100,000 to $ 4 9 9 , 9 9 9 ; $500,000 to
$999,999; and $1,000,000 and over.
In February 1971, the reporting period was short­
ened for most banks to the first 7 business days in each
survey month, accounts-receivable loans were elimi­
nated from the survey, new weights were introduced,
and more refined calculation procedures were adopted.
In February 1977, the survey was revised again to
include 340 large and small, member and nonmember
banks selected to represent all insured banks. Reports
of nonmember banks (about 100 respondents) are col­
lected and processed by the Federal Deposit Insurance
Corporation. The survey collects the lending terms on
actual loans made over the reporting period, and the

BCD 1984



results are weighted to approximate the lending terms
of the banking system as a whole. The loan-size groups
were changed to $1,000 to $24,999; $25,000 to $49,999;
$50,000 to $99,999; $100,000 to $499,999; $500,000
to $999,999; and $1,000,000 and over.
In BCD, series 67 appears under the economic pro­
cess "money and credit."

SERIES 109 measures the interest rate banks charge
their most credit worthy business customers for shortterm loans. This rate, called the prime rate, is the base
used to scale upward the rates charged on most loans
to other business customers. It is not as sensitive as
money market instrument rates, which fluctuate daily
in response to s h o r t - t e r m changes in supply and
demand. Rather, its movements tend to be infrequent,
changing only by increments of at least one-quarter of
a percentage point. Major banks tend to change their
prime rate in response to increasing differentials with
selected open market money rates.
The data are monthly averages computed by multi­
plying each "predominant" prime rate (the rate charged
by the majority of 30 large money market banks) by the
number of days it was in effect during the month, sum­
ming these products, and dividing by the number of
days in the month.
In BCD, series 109 appears under the economic pro­
cess "money and credit."

DUN & BRADSTREET DIFFUSION INDEXES
Series 960.

Diffusion Index of Net Profits, Manufac­
turing
Series 971. Diffusion Index of New Orders, Manufac­
turing
Series 972. Diffusion Index of Net Profits, Manufac­
turing and Trade
Series 973. Diffusion Index of Net Sales, Manufac­
turing and Trade
Series 974. Diffusion Index of Number of Employees,
Manufacturing and Trade
Series 975. Diffusion Index of Level of Inventories,
Manufacturing and Trade
Series 976. Diffusion Index of Selling Prices, Manu­
facturing
Series 977. Diffusion Index of Selling Prices, Whole­
sale Trade
Series 978. Diffusion Index of Selling Prices, Retail
Trade
Source: Dun & Bradstreet, Inc.
(Data contained in these series are not seasonally
adjusted.)

THESE series are diffusion indexes that measure the
percent of business executives who reported increas­
es in their actual and expected net profits, new orders,
net sales, employment, inventories, and selling prices

37

relative to levels a year earlier. The indexes are based
on quarterly interviews of business executives conducted
by Dun & Bradstreet. About 600 manufacturing, 400
wholesale, and 400 retail company executives are inter­
viewed each quarter. For each of the above measures,
each respondent is asked to report his firm's level for
the preceding quarter relative to that of the corres­
ponding quarter 1 year earlier, and the expected level
for the coming quarter compared with the corresponding
quarter 1 year earlier.
Series 972, 973, 974, and 975 are the actual and
expected net profits, net sales, number of employees,
and inventories indexes, respectively, for manufactur­
ers, wholesalers, and retailers. Series 960 is the actual
net profits index, and series 971 is the actual and expect­
ed new orders index for manufacturers only. Series
976, 977, and 978 are separate selling price indexes for
manufacturers, wholesalers, and retailers, respectively.
These diffusion indexes are copyrighted and used by
permission of Dun & Bradstreet in BCD.
In BCD, these series appear under the category "diffu­
sion indexes.'1

GROSS NATIONAL PRODUCT
Series 200. Gross National Product in Current Dollars
Series 200b. Change in Gross National Product in Cur­
rent Dollars
Series 200c. Percent Change in Gross National Prod­
uct in Current Dollars
Series 50.
Gross National Product in 1972 Dollars
Series 50b. Change in Gross National Product in 1972
Dollars
Series 50c. Percent Change in Gross National Prod­
uct in 1972 Dollars
Series 310. Implicit Price Deflator for Gross National
Product
Series 310c. Percent Change in the Implicit Price De­
flator for Gross National Product
Series 217. Per Capita Gross National Product in 1972
Dollars
Series 213. Final Sales in 1972 Dollars
Source: U.S. Department of Commerce, Bureau of
Economic Analysis and Bureau of the Census
(Data contained in these series are seasonally adjusted.)
GROSS national product (GNP) is the most widely used
measure of the Nation's production. It measures the
market value of the goods and services produced by
the labor and property supplied by residents of the
United States. More specifically, it is the market value
of " f i n a l " sales of goods and services plus inventory
change; purchases by one producing unit from another
of "intermediate" products are not included, but depre­
ciation charges and other allowances for business and
institutional consumption of fixed capital goods have
not been deducted in deriving it.

38



GNP is measured as the sum of products: Personal
consumption expenditures (series 230), gross private
domestic investment (including the change in business
inventories) (series 240), net exports (exports less
imports) of goods and services (series 250), and gov­
ernment purchases of goods and services (series 260).
(For a detailed description of each of these categories,
see the appropriate sections in this Handbook.) GNP
can also be measured as the sum of the costs incurred
and the profits earned in production of GNP. By this
approach, the incomes of labor and property are
summed, in the forms in which they accrue to resi­
dents and before the deduction of taxes on the incomes,
to national income (series 220), and to national income is
added the other charges that must be included to arrive
at the total market value of goods and services. (For a
detailed description of national income, see the National
Income section in this Handbook.) The two measures
of GNP—that is, as the sum of products and as the sum
of incomes and other charges—differ by a statistical
discrepancy, which reflects measurement error.
Estimates of GNP now cover the 50 States and the
District of Columbia; prior to 1960, they did not cover
Alaska and Hawaii.
GNP in 1972 dollars, or real GNP, is derived principally
by dividing components of the current-dollar GNP by
appropriate price indexes in as fine a breakdown as
possible.

SERIES 200 measures the current-dollar value of GNP,
as described above.
Series 200b measures the quarter-to-quarter amount
of change in series 200.
Series 200c measures the quarter-to-quarter percent
change in series 200.
In BCD, series 200, 200b, and 200c appear under
the category "GNP and personal income."

SERIES 50 measures the value of GNP in 1972 dollars.
Series 50b measures the quarter-to-quarter amount
of change in series 50.
Series 50c measures the quarter-to-quarter percent
change in series 50.
In BCD, series 50, 50b, and 50c appear under the
category "GNP and personal income." Series 50 also
appears under the economic process "production and
income."

SERIES 310, the implicit price deflator for GNP, is a
current-weighted price index (1972=100) and is derived
by dividing the current-dollar GNP by the constantdollar GNP for each period. It is a weighted average of
the detailed price indexes used in the deflation of GNP
with the composition of the constant-dollar output in
each quarter as weights. In other words, the price indexes

The Handbook of Cyclical Indicators

for each quarter are weighted by the ratio of the quan­
tity of the item valued in 1972 prices to the total output
for the corresponding quarter in 1972 prices. There­
fore, changes in the implicit price deflator reflect both
changes in prices and changes in the composition of
output.
Series 310c measures the quarter-to-quarter percent
change in series 310.
In BCD, series 310 and 310c appear under the cate­
gory "price movements."

SERIES 217 measures the per capita GNP in constant
(1972) dollars. It is computed by dividing series 50 by
the U.S. population. The U.S. population includes resi­
dents of the 50 States and the District of Columbia, and
members of the U.S. Armed Forces stationed in foreign
countries and in the outlying areas, but not dependents
living with them. It excludes residents of Puerto Rico,
residents of the outlying areas under U.S. sovereignty
or jurisdiction, and other American citizens living
overseas. Population estimates for the first of each
month are published by the Bureau of the Census. A
quarterly population estimate is computed by the Bureau
of Economic Analysis by taking 2-month averages of
the beginning-of-month estimates to represent monthly
averages and averaging the monthly averages for the
quarter. The quarterly population estimate is then divided
into the GNP estimate for the quarter to obtain series
217.
In BCD, series 217 appears under the category "GNP
and personal income."

SERIES 213 measures that part of GNP that is sold to
final users. It consists of personal consumption expen­
ditures, gross private domestic fixed investment, gov­
ernment purchases, and net exports. It equals GNP
less the change in business inventories.
In BCD, series 213 appears under the category "GNP
and personal income."

PERSONAL CONSUMPTION EXPENDITURES
Series 230.
Series 231.
Series 235.
Series 232.
Series 233.
Series 55.
Series 236.

BCD 1984



Personal Consumption Expenditures in
Current Dollars
Personal Consumption Expenditures in
1972 Dollars
Personal Consumption Expenditures as
a Percent of Gross National Product
Personal Consumption Expenditures in
Current Dollars, Durable Goods
Personal Consumption Expenditures in
1972 Dollars, Durable Goods
Personal Consumption Expenditures, Au­
tomobiles
Personal Consumption Expenditures in
Current Dollars, Nondurable Goods

Series 238.

Personal Consumption Expenditures
1972 Dollars, Nondurable Goods
Series 237. Personal Consumption Expenditures
Current Dollars, Services
Series 239. Personal Consumption Expenditures
1972 Dollars, Services
Source: U.S. Department of Commerce, Bureau
Economic Analysis

in
in
in
of

(Data contained in these series are seasonally adjusted.)
PERSONAL consumption expenditures (PCE), a com­
ponent of the gross national product (GNP), is goods
and services purchased by individuals, operating expens­
es of nonprofit institutions, and the value of food, fuel,
clothing, rental of dwellings, and financial services
received in kind by individuals. Net purchases of used
goods also are included. The estimated rental value of
owner-occupied dwellings is included, but all private
purchases of residential structures are classified as
gross private domestic investment.
PCE for goods and services is estimated for bench­
mark years as final demand components of the InputOutput Table prepared by the Bureau of Economic Analy­
sis. For goods, the basic data are: Product shipment
values reported in the census of manufactures; nonmanufactured foods and fuels derived from censuses
of agriculture and mineral industries; imports, includ­
ing transportation costs, insurance, and duties; and
changes in wholesalers' and retailers' inventories. The
available supply is apportioned at producers' values
among intermediate uses, investment, exports, gov­
ernment purchases, and PCE. To the derived consump­
tion expenditures at producers' value are added esti­
mates of transportation costs, wholesale and retail
margins, and sales taxes, based principally on data
from the Interstate Commerce Commission, the U.S.
Department of Commerce, Bureau of the Census, and
the U.S. Department of the Treasury, Internal Revenue
Service.
PCE for goods for years between and beyond bench­
marks and for quarters and months is based chiefly on
the trends shown by the Census Bureau retail sales
data by kind of store; quantity series and price infor­
mation (for such items as autos, gasoline, and tobac­
co); and other data from government and nongovern­
ment sources.
Periodic comprehensive sources—notably the cen­
suses of population and housing, business, and agricul­
ture—provide underlying data for space rental values,
personal services, repair services, and other compo­
nents that together constitute about one-half of the
dollar value of consumer services. This information is
supplemented by comprehensive annual reports of Gov­
ernment agencies, such as the Office of Education for
private higher education outlays, the Federal Commu­
nications Commission for telephone service, the Inter­
state Commerce Commission for railroad and bus travel,
the Civil Aeronautics Board for air travel, and the Internal

39

Revenue Service and the Census Bureau for data on
physicians, lawyers, and services by other professionals.
Annual data from private sources, such as the American
Council of Life Insurance and Best's Fire and Casualty
Yearbook for insurance items, the American Hospital
Association for hospital services, the Edison Electric
Institute and the American Gas Association for electric
and gas utilities, the American Transit Association for
outlays for local transportation, and the New York Stock
Exchange for brokerage fees, also are used.
PCE in 1972 dollars is obtained by dividing detailed
components of current-dollar PCE by appropriate price
indexes in as fine a breakdown as possible and sum­
ming the results. Components of the Consumer Price
Index for All Urban Consumers (CPI-U), compiled by the
U.S. Department of Labor, Bureau of Labor Statistics,
and other price information are used.

SERIES 230 and 231 measure PCE in current and con­
stant (1972) dollars, respectively.
In BCD, series 230 and 231 appear under the cate­
gory "personal consumption expenditures."

SERIES 235 measures the portion of GNP (series 200)
that consists of PCE (series 230). It is computed by
dividing series 230 by series 200 and expressing the
resulting ratios as percents.
In BCD, series 235 appears under the category
"shares of GNP and national income."

SERIES 232 and 233 measure consumer purchases of
goods that generally have a useful life of 3 or more
years, in current and constant (1972) dollars, respec­
tively. They include such items as automobiles, furni­
ture, and household appliances.
In BCD, series 232 and 233 appear under the cate­
gory "personal consumption expenditures."

SERIES 55 measures consumer purchases of new cars
and net purchases of used cars.
In BCD, series 55 appears under the economic pro­
cess "consumption, trade, orders, and deliveries."

SERIES 236 and 238 measure consumer purchases of
goods that generally have a useful life of less than 3
years, in current and constant (1972) dollars, respec­
tively. They include such items as food, clothing, and
gasoline.
In BCD, series 236 and 238 appear under the cate­
gory "personal consumption expenditures."

40



SERIES 237 and 239 measure purchases of services in
current and constant (1972) dollars, respectively. They
include such items as housing and household operation,
transportation, and medical care.
In BCD, series 237 and 239 appear under the cate­
gory "personal consumption expenditures."

GROSS PRIVATE DOMESTIC INVESTMENT
Series 240.

Gross Private Domestic Investment in
Current Dollars
Series 241. Gross Private Domestic Investment in
1972 Dollars
Series 242. Gross Private Domestic Fixed Investment
in Current Dollars
Series 243. Gross Private Domestic Fixed Investment
in 1972 Dollars
Series 86.
Gross Private Nonresidential Fixed Invest­
ment in 1972 Dollars
Series 87.
Gross Private Nonresidential Fixed Invest­
ment in 1972 Dollars, Structures
Series 88.
Gross Private Nonresidential Fixed Invest­
ment in 1972 Dollars, Producers' Dura­
ble Equipment
Series 89.
Gross Private Residential Fixed Investment
in 1972 Dollars
Series 245. Change in Business Inventories in Cur­
rent Dollars
Series 30.
Change in Business Inventories in 1972
Dollars
Series 247. Change in Business Inventories as a Per­
cent of Gross National Product
Series 248. Gross Private Nonresidential Fixed Invest­
ment as a Percent of Gross National Pro­
duct
Series 249. Gross Private Residential Fixed Investment
as a Percent of Gross National Product
Source: U.S. Department of Commerce, Bureau of
Economic Analysis
(Data contained in these series are seasonally adjusted.)
GROSS private domestic investment (GPDI), a compo­
nent of the gross national product (GNP), is fixed capi­
tal goods purchased by private business and nonprofit
institutions, and the value of the change in the physical
volume of inventories held by private business. GPDI
includes all private purchases of dwellings, whether
purchased for tenant or owner occupancy. Net pur­
chases of used goods are included also.
"Fixed investment" includes structures and producers'
durable equipment purchased by private business and
nonprofit institutions, but excludes the change in busi­
ness inventories.
The "producers' durable equipment" component of
fixed investment is equipment expenditures that are
chargeable to fixed asset accounts for which deprecia­
tion accounts normally are maintained. It includes pur­
chases of new equipment and net purchases of used

The Handbook of Cyclical Indicators

equipment with an expected economic life of 1 year or
more. Sales of equipment scrap other than autos are
deducted.
The "nonresidential structures" component of fixed
investment includes purchases of privately owned non­
residential buildings, farm structures, public utilities,
and other types of structures, including hotels, motels,
and necessary service facilities (such as plumbing, heat­
ing, and elevators). Structures also cover certain types
of permanent equipment, such as blast furnaces and
nuclear reactors, which are built primarily on site, and
the exploration and development of oil and gas wells
and mine shafts. The component includes purchases of
new structures, the net purchases of used structures,
and brokers' commissions on the sale of structures.
The "residential structures" component is the pur­
chase by business and individuals of housekeeping and
nonhousekeeping residential buildings (including nec­
essary service facilities, such as plumbing, heating,
and elevators) and additions and alterations to these
buildings. Nonhousekeeping residential buildings con­
sist of dormitories and similar facilities. The compo­
nent includes purchases of new structures, net pur­
chases of used structures, and commissions on the
sale of structures.
"Change in business inventories" is the change in
the physical volume of farm and nonfarm inventories
valued at average prices for the period. Nonfarm invento­
ries include purchased materials, supplies, goods in
process, finished goods, and goods purchased for resale;
farm inventories include livestock and harvested crops.
The following procedures are used to estimate the
GPDI components:
The producers' durable equipment estimate for
benchmark years is based on the input-output data
prepared by the Bureau of Economic Analysis. The census
of manufactures, compiled by the U.S. Department of
Commerce, Bureau of the Census, is the main source
of data on the value of product shipments. Annual esti­
mates are calculated by detailed commodities or com­
modity groups. For each commodity, manufacturers'
shipments are adjusted for the flows that do not con­
tribute to gross private capital formation. These include
intermediate shipments of machinery components and
parts, replacement parts, shipments for export, gov­
ernment purchases, and consumer purchases. Where
appropriate, imports are added. Then margins, which
account for the difference between the manufactur­
ers' price and the purchasers' price, are added. Finally,
adjustments are made for transactions in used goods.
The producers' durable equipment estimate between
and beyond benchmarks is based on the annual survey
of manufactures compiled by the Census Bureau. The
annual survey provides product shipment data at a less
detailed level than the census of manufactures. For
some commodities, the information on shipments is
supplemented by data from the current industrial reports
series for specific products. Trade source data on unit
sales and average prices are used to estimate motor

BCD 1984



vehicle purchases, and Interstate Commerce Com­
mission transport statistics are used to estimate rail­
road equipment purchases. In addition, export and
import data from Census Bureau foreign trade tabula­
tions are utilized.
Quarterly interpolation and extrapolation are based
on series derived largely from the Census Bureau monthly
manufacturers' shipments and foreign trade data, and
from trade association data for motor vehicles.
The nonresidential structures estimate is derived from
monthly data for private new construction compiled by
the Census Bureau, estimated construction and explora­
tion expenditures for petroleum and natural gas dril­
ling and mine shafts, commissions on the sale of struc­
tures, and net transfers of used structures from (or to)
government. The petroleum and natural gas series is
benchmarked to data collected in the censuses of min­
erals industries. The annual estimates, which are tied
to these benchmarks, are developed mainly from fig­
ures on the total drilling footage adjusted for changes
in costs, as reported in trade sources, and the Census
Bureau annual survey of oil and gas.
The residential structures estimate is derived from
monthly data for private new construction of residen­
tial buildings compiled by the Census Bureau.
To ascertain the change in the physical quantity of
stocks of nonfarm inventories, inventories are sepa­
rated into LIFO (last-in-first-out) and non-LIFO por­
tions. End of period non-LIFO book values are con­
verted to constant prices using selected Producer Price
Indexes appropriate to each industry from the U.S.
Department of Labor, Bureau of Labor Statistics (BLS).
Then the change is computed. The price indexes are
chosen to reflect the commodity composition of invento­
ries in each industry, and are constructed to measure
the "cost" or "market" valuation at the end of each
period. For LIFO inventories, first the book value change
is calculated, and then the change is deflated using
price indexes based on the same commodity composi­
tion as that used for the non-LIFO inventories, but
constructed to reflect the average price for the period.
Census Bureau data on the particular accounting meth­
ods used by businesses to charge goods out of inventory
are used to determine the period for which prices are
embodied in inventories. The increments in the constantdollar inventory series are converted to current prices
by multiplying them by ratios of current prices to baseperiod prices.
The change in farm inventories, estimated by the
U.S. Department of Agriculture (USDA), is calculated
at average prices during the period and needs no fur­
ther adjustment.
The book values of nonfarm inventories are based on
book value data reported to the Census Bureau and
business income tax returns tabulated by the U.S.
Department of the Treasury, Internal Revenue Service.
For manufacturing and trade inventories, which com­
prise about nine-tenths of the nonfarm t o t a l , the
censuses of business supply benchmarks for selected

41

years. Annual and quarterly estimates are derived from
the Census Bureau current business reports: Manufacturers' Shipments, Inventories, and Orders; Wholesale
Trade; and Annual Retail Trade. The extrapolation of
retail trade inventories within the year is derived mainly
from a subsample of the annual retail trade survey.
Annual inventories of nonfarm industries other than
manufacturing and trade are obtained from Internal
Revenue Service data; quarterly estimates are based
mainly on unpublished data on working capital from
the Board of Governors of the Federal Reserve System
and other data obtained from the U.S. Department of
Energy and trade associations.
The value of farm inventories is estimated by USDA
from quantity and price data.
GPDI in 1972 dollars is derived principally by dividing
components of current-dollar GPDI by appropriate price
indexes in as fine a breakdown as possible, and sum­
ming the results. The "structures" component is deflated
largely by construction price and cost indexes com­
piled by government and private agencies. The resi­
dential structures portion (except alterations and addi­
tions and mobile homes) is deflated by the Census
Bureau price index for single-family housing (exclud­
ing land). Alterations and additions is deflated by the
BLS Consumer Price Index for maintenance and repairs;
mobile homes is deflated by the BLS Producer Price
Index for mobile homes.
Producers' durable equipment purchases are adjusted
to eliminate price changes using principally the Pro­
ducer Price Indexes.
Composite price indexes for about 60 industries, con­
structed from components of the Producer Price Index­
es, are used to deflate the book value of the nonfarm
component of inventories. (The deflated change in these
inventories is reflated by multiplying by the ratio of
current prices to base-period prices to arrive at the
current value of the change in physical volume of the
nonfarm inventories.) The farm component of invento­
ries, which is calculated at average prices during the
period, is deflated by the USDA series, prices received
by farmers. Changes in nonfarm and farm business
inventories are then summed in both constant and
current dollars.

SERIES 240 and 241 are measures of gross private
domestic investment—the sum of producers' durable
equipment, residential and nonresidential structures,
and the change in business inventories—in current
and constant (1972) dollars, respectively.
In BCD, series 240 and 241 appear under the cate­
gory "gross private domestic investment."

SERIES 242 and 243 are measures of the fixed invest­
ment portion of total private domestic investment—the
sum of producers' durable equipment and residential

42



and nonresidential structures—in current and constant
(1972) dollars, respectively.
In BCD, series 242 and 243 appear under the cate­
gory "gross private domestic investment."

SERIES 86 measures the value of private domestic non­
residential fixed investment in constant (1972) dollars.
It is the sum of producers' durable equipment in 1972
dollars (series 88) and nonresidential structures in 1972
dollars (series 87).
In BCD, series 86 appears under the economic pro­
cess "fixed capital investment."

SERIES 87 measures the value of domestic investment
in nonresidential structures in constant (1972) dollars.
In BCD, series 87 appears under the economic pro­
cess "fixed capital investment."

SERIES 88 measures the value of domestic investment
in nonresidential producers' durable equipment in con­
stant (1972) dollars.
In BCD, series 88 appears under the economic pro­
cess "fixed capital investment."

SERIES 89 measures the value of domestic investment
in residential structures in constant (1972) dollars.
In BCD, series 89 appears under the economic pro­
cess "fixed capital investment."

SERIES 245 and 30 measure the quarter-to-quarter
amount of change in the physical volume of inventories
valued at the average price for the current period for
estimates in current dollars (series 245), and at the
average price for the base period for estimates in 1972
dollars (series 30).
In BCD, series 245 and 30 appear under the catego­
ry "gross private domestic investment." Series 30 also
appears under the economic process "inventories and
inventory investment."

SERIES 247, 248, and 249 measure the share of GNP
held by the three major components of GPDI. The series
are computed by dividing current-dollar inventory
change (series 245), current-dollar gross private non­
residential fixed investment, and current-dollar gross
private residential fixed investment, respectively, by
current-dollar GNP (series 200) and expressing the
resulting ratios as percents.
In BCD, series 247, 248, and 249 appear under the
category "shares of GNP and national income."

The Handbook of Cyclical Indicators

GOVERNMENT PURCHASES OF GOODS
AND SERVICES
Series 260.

Government Purchases of Goods and Ser­
vices in Current Dollars
Series 261. Government Purchases of Goods and Ser­
vices in 1972 Dollars
Series 262. Federal Government Purchases of Goods
and Services in Current Dollars
Series 263. Federal Government Purchases of Goods
and Services in 1972 Dollars
Series 564. Federal Government Purchases of Goods
and Services, National Defense
Series 565. National Defense Purchases as a Percent
of Gross National Product
Series 265. Federal Government Purchases of Goods
and Services as a Percent of Gross National
Product
Series 266. State and Local Government Purchases
of Goods and Services in Current Dollars
Series 267. State and Local Government Purchases
of Goods and Services in 1972 Dollars
Series 268. State and Local Government Purchases
of Goods and Services as a Percent of
Gross National Product
Source: U.S. Department of Commerce, Bureau of
Economic Analysis
(Data contained in these series are seasonally adjusted.)
GOVERNMENT purchases of goods and services, a com­
ponent of the gross national product (GNP), is the
compensation of government employees and purchases
by government from business and from abroad. It
excludes transfer payments, interest paid by govern­
ment, and subsidies. It includes gross investment by
government enterprises, but excludes their current
outlays. It includes net purchases of used goods, and
excludes sales and purchases of land and financial assets.
The quarterly estimates of "Federal purchases of
goods and services" are based essentially on the Monthly
Statement of Receipts and Outlays of the U.S. Government issued by the U.S. Department of the Trea­
sury. However, numerous adjustments are made because
the "budget outlays" reported in this publication includes
items other than purchases of goods or services,
excludes other items that constitute purchases accord­
ing to the definitions of GNP, and reflects still others
with timing different from that of the national income
and product accounts.
The procedure treats the Treasury total of budget
outlays as a benchmark, adding or subtracting appro­
priate amounts to derive purchases of goods and ser­
vices as a residual. The principal deductions are public
debt interest, grants-in-aid to State and local govern­
ments, transfer payments, subsidies, net expenditures
of government enterprises, foreign currency purchas­
es, and loans and other capital transactions. Among
the principal additions are the acquisition of fixed assets

BCD 1984



and inventories by government enterprises. These addi­
tions involve partial restoration of the total enterprise
expenditures previously deducted. Purchases are also
converted from a cash-timing basis to a delivery-timing
basis by subtracting from disbursements the change in
outstanding progress payments and adding back the
change in corporate receivables from Government.
These adjustments are either found explicitly in the
Monthly Treasury Statement or derived from annual
data published in the Budget of the U.S. Government the
Treasury's Combined Statement of Receipts, Expenditures, and Balances of the U.S. Government; finan­
cial reports of government corporations; and a wide
variety of other documents, including detailed infor­
mation from the U.S. Department of Defense on deliv­
eries. Contacts with officials of government agencies
supplement the basic source material.
"State and local purchases of goods and services"
are derived from reports of the Governments Division
and the Construction Statistics Division of the U.S.
Department of Commerce, Bureau of the Census and
from reports of the U.S. Department of Labor, Bureau
of Labor Statistics (BLS).
BLS data are the primary source used to derive meas­
ures of compensation for State and local employees;
new construction purchases are derived from Construc­
tion Statistics Division data. Estimates for other pur­
chases of goods and services are derived by subtract­
ing from Governments Division data on State and local
government expenditures (excluding payrolls and related
outlays), those outlays that do not represent direct
purchases of goods and services (such as transfer
payments, interest, current operating expenditures of
government enterprises, and purchases of land) and
adding back government contributions to self-admin­
istered insurance funds.
Two methods are used to deflate government pur­
chases. The methodology to obtain constant-dollar
government purchases from business incorporates
information on prices and product composition of gov­
ernment purchases. In some cases, price information
that relates directly to the kind of goods and services
purchased is obtained from government agencies, espe­
cially the Defense Department. Detail on the product
composition of government purchases permits a match­
ing of current-dollar purchases with the price indexes
used to convert them into constant dollars. For the
Federal Government, this information is derived from
records on contracts awarded by the Defense Depart­
ment, the General Services Administration, and certain
other agencies. The Defense Department also supplies
reports and materials on contract prices, deliveries,
contract control documentation, and budget backup
documentation. For State and local governments, incor­
poration of information underlying the 1963, 1967,
and 1972 input-output tables on the industry distribu­
tion of the several functional categories of purchases
serves a similar purpose.

43

For compensation of employees, the constant-dollar
estimates are obtained by extrapolating the 1972
current-dollar estimates by a physical quantity meas­
ure. For this purpose, quality-adjusted hours worked
are used to approximate physical quantity. For Federal
Government civilian employees, hours worked in the
various civil service and wage board grades are valued
at 1972 average compensation in those grades. The
rationale is that shifts in grade levels reflect experi­
ence and education, although the procedure is modi­
fied to eliminate shifts in grade levels that do not reflect
differences in these factors. Constant-dollar compen­
sation for military employees is obtained by a similar
procedure using employment data by military rank.
For State and local elementary and secondary teach­
ers, measures of hours worked (classified by educa­
tional attainment and experience) are multiplied by
base-year average compensation for each of the clas­
sifications. For teachers in higher education, the
weighting takes into account only differences in educa­
tional attainment. For noneducation employees, esti­
mates of average work weeks and employment are used
to generate constant-dollar compensation measures.

SERIES 265 measures the portion of GNP (series 200)
that consists of Federal Government purchases (series
262). It is computed by dividing series 262 by series
200 and expressing the resulting ratios as percents.
In BCD, series 265 appears under the category
"shares of GNP and national income."

SERIES 266 and 267 measure the value of purchases of
goods and services by State and local governments in
current and constant (1972) dollars, respectively.
In BCD, series 266 and 267 appear under the cate­
gory "government purchases of goods and services."

SERIES 268 measures the portion of GNP (series 200)
that is State and local government purchases (series
266). It is computed by dividing series 266 by series
200 and expressing the resulting ratios as percents.
In BCD, series 268 appears under the category
"shares of GNP and national income."

EXPORTS AND IMPORTS OF GOODS
AND SERVICES
SERIES 260 and 261 measure the value of purchases of
goods and services by Federal, State, and local gov­
ernments in current and constant (1972) dollars,
respectively.
In BCD, series 260 and 261 appear under the cate­
gory "government purchases of goods and services."

SERIES 262 and 263 measure the value of purchases of
goods and services by the Federal Government in cur­
rent and constant (1972) dollars, respectively.
In BCD, series 262 and 263 appear under the cate­
gory "government purchases of goods and services."

SERIES 564 measures the value of Federal Government
purchases of goods and services for national defense.
The activities classified under national defense are:
Defense Department military functions, military assis­
tance to other nations, development and control of
defense-related atomic energy, and stockpiling and
certain other defense-related activities.
In BCD, series 564 appears under the category
"defense indicators."

SERIES 565 measures the portion of GNP (series 200)
that consists of national defense purchases (series 564).
It is computed by dividing series 564 by series 200 and
expressing the resulting ratios as percents.
In BCD, series 565 appears under the category
"defense indicators."

44



Series 252.

Exports of Goods and Services in Current
Dollars
Series 256. Exports of Goods and Services in 1972
Dollars
Series 253. Imports of Goods and Services in Current
Dollars
Series 257. Imports of Goods and Services in 1972
Dollars
Series 250. Net Exports of Goods and Services in Cur­
rent Dollars
Series 255. Net Exports of Goods and Services in 1972
Dollars
Series 251. Net Exports of Goods and Services as a
Percent of Gross National Product
Source: U.S. Department of Commerce, Bureau of
Economic Analysis
(Data contained in these series are seasonally adjusted.)
NET exports of goods and services, a component of the
gross national product (GNP), is exports less imports
of goods and services. Exports are part of national
production. Imports are not, but are included in the
components of GNP as they are usually measured, and
therefore are deducted. There are differences between
the national income and product accounts (NIPA's)
measures of imports and exports ( " 2 0 0 " series) and
the detailed balance of payment accounts (BPA) meas­
ures ("600" series). To adjust exports to NIPA's con­
cepts, gold exports, capital gains net of losses in direct
investment income receipts, and part of military sales
are deducted from BPA exports. The military sales that
are excluded are treated as military grants in NIPA's.

The Handbook of Cyclical Indicators

To adjust imports of goods and services to NIPA's con­
cepts, gold imports, capital gains net of losses in direct
investment income payments, and payments of income
on U.S. Government liabilities are deducted from the
BPA imports. In addition, the excess of the value of
gold in domestic final sales plus the change in business
inventories over the value of U.S. production of gold is
added to imports. The "gold adjustment" begins in
1960; prior to 1960, this adjustment was not neces­
sary. The "capital gains" adjustments begin in 1978;
data needed to make these adjustments are not avail­
able prior to this date. Before Alaska and Hawaii gained
statehood in late 1959, their exports were deducted
from NIPA's.
The series has three major components:
1. The merchandise exports and imports are based
on official U.S. foreign trade statistics compiled
by the U.S. Department of Commerce, Bureau
of the Census, with certain adjustments made
by the Bureau of Economic Analysis (BEA) for
valuation, coverage, and timing. (For a more
detailed description, see the International Transactions section in this Handbook.)
2. The factor income portion of exports includes
dividends, reinvested earnings, interest, and
branch profits received by U.S. residents on
their foreign direct investment; interest and
dividends on foreign securities held by U.S. resi­
dents; interest on bank and commercial loans
received by U.S. residents from foreigners; inter­
est received by the U.S. Government on loans
to foreign countries; and labor income received
by U.S. residents from foreigners. Foreign taxes
are excluded. The factor income portion of
imports includes dividends, reinvested earnings,
interest, and branch profits paid foreigners on
their direct investment in the United States;
interest and dividends on U.S. private securi­
ties, bank deposits, and other assets held by
foreigners in the United States; and labor income
paid by the U.S. to foreigners. U.S. withholding
taxes are excluded.
3. "Other services:" Exports consists of U.S. mili­
tary sales to foreigners, receipts for transpor­
tation services, travel by foreign visitors to the
United States, royalties and fees, miscellaneous
private services, and miscellaneous services ren­
dered by the U.S. Government. Imports con­
sists of expenditures abroad by U.S. military
agencies and by other U.S. Government agen­
cies, payments for transportation services, travel
abroad by U.S. residents, royalties and fees,
and miscellaneous private services.
The 1972 dollar series is the balance of separately
deflated exports and imports. The following deflation
procedures are used:

BCD1984



1. The inflow and outflow of factor income are
deflated by the implicit price deflator for U.S.
net domestic product. These factor incomes
represent, respectively, the value of production
abroad that is attributed to factors of produc­
tion supplied by U.S. residents and the value of
production in the United States that is attribut­
able to factors of production supplied by for­
eign residents. (Virtually all of the income is
attributable to capital.)
2. Components of merchandise trade are deflat­
ed primarily by unit value indexes compiled by
the Census Bureau. Beginning in 1972, exports
of commercial aircaft are deflated by the price
index for commercial aircraft compiled by the
Civil Aeronautics Board. Beginning in 1981,
manufactured products are deflated by export
and import price indexes compiled by the U.S.
Department of Labor, Bureau of Labor Statis­
tics (BLS).
3. Components of services other than factor income
are deflated as follows: The inflow and outflow
of fees and royalties between affiliates are deflat­
ed by the implicit price deflator for gross domestic
product. Beginning in 1972, transfers under U.S.
military sales contracts (an export component)
are deflated by commodity groups using implicit
price deflators developed by BEA for deflation
of national defense purchases. Also beginning in
1972, exports of miscellaneous U.S. Government
services are deflated by the BEA deflator for
government sales of services. Travel expendi­
tures are deflated by appropriate BLS Consumer
Price Indexes. Passenger fares are deflated by
price indexes estimated by BEA. Constant-dollar
estimates for other transportation are based
primarily on extrapolation of base-year dollars
by quantity data.

SERIES 252 and 256 measure the total value of exports,
as defined above, in current and constant (1972) dol­
lars, respectively.
In BCD, series 252 and 256 appear under the cate­
gory "foreign trade."
SERIES 253 and 257 measure the total value of imports,
as defined above, in current and constant (1972) dol­
lars, respectively.
In BCD, series 253 and 257 appear under the cate­
gory "foreign trade."

SERIES 250 and 255 measure the value of net exports
from the United States in current and constant (1972)
dollars, respectively. Net exports are equal to the dif-

45

ference between exports and imports, or series 252
minus series 253 for current dollars, and series 256
minus series 257 for constant dollars.
In BCD, series 250 and 255 appear under the cate­
gory "foreign trade."

SERIES 251 measures the portion that net exports of
goods and services (series 250) is of GNP (series 200).
It is computed by dividing series 250 by series 200 and
expressing the resulting ratios as percents.
In BCD, series 251 appears under the category
"shares of GNP and national income."

NATIONAL INCOME
Series 220. National Income in Current Dollars
Source: U.S. Department of Commerce, Bureau of
Economic Analysis
(Data contained in this series are seasonally adjusted.)
NATIONAL income is the incomes that originate in the
production of goods and services attributable to labor
and property supplied by residents of the United States.
Thus, it measures the factor costs of goods and servi­
ces produced. Incomes are recorded in the forms in
which they accrue to residents and are measured before
deduction of taxes on those incomes. They consist of
compensation of employees (series 280), proprietors'
income (series 282), rental income of persons (series
284), corporate profits (series 286), and net interest
(series 288). (For a description of these components,
see the appropriate sections in this Handbook.)
National income differs from the gross national product
(GNP) (series 200). National income excludes capital
consumption allowances with capital consumption
adjustment, indirect business taxes (e.g., sales, excise,
and business property taxes), business transfer pay­
ments, and current surplus of government enterprises
and includes subsidies.
Estimates of national income now cover the 50 States
and the District of Columbia; prior to 1960, they did not
cover Alaska and Hawaii.
In BCD, series 220 appears under the category
"national income and its components."

Series 346.

Index of Real Average Hourly Compen­
sation, All Employees, Nonfarm Business
Sector
Series 346c. Percent Change in Real Average Hourly
Compensation
Sources: U.S. Department of Commerce, Bureau of
Economic Analysis; U.S. Department
of
Labor, Bureau of Labor Statistics
(Data contained in these series are seasonally adjusted.)
COMPENSATION of employees is the income accruing
to employees as remuneration for their work. It is the
sum of wages and salaries and supplements to wages
and salaries.
4
'Wages and salaries" consists of the monetary remu­
neration of employees, including the compensation of
corporate officers; commissions, tips, and bonuses;
and receipts in kind that represent income to the recipi­
ents. It is measured on an accrual basis.
"Supplements to wages and salaries" consists of
employer contributions for social insurance and other
labor income. Employer contributions for social insur­
ance include employer payments under the following
programs: Federal old-age, survivors, disability, and
hospital insurance; State unemployment insurance; rail­
road retirement and unemployment insurance; govern­
ment retirement; and publicly administered workers'
compensation. Other labor income includes employer
contributions to private pension and welfare funds,
and directors' fees.

SERIES 280 measures compensation of employees, as
defined above.
In BCD, series 280 appears under the category
"national income and its components."

SERIES 64 measures the proportion of national income
(series 220) that consists of employee compensation
(series 280). It is computed by dividing series 280 by
series 220 and expressing the resulting ratios as
percents.
In BCD, series 64 appears under the economic pro­
cess "prices, costs, and profits" and under the category
"shares of GNP and national income."

COMPENSATION OF EMPLOYEES
Series 280.
Series 64.
Source:

Compensation of Employees
Compensation of Employees as a Percent
of National Income
U.S. Department of Commerce, Bureau of
Economic Analysis

Series 345.

Index of Average Hourly Compensation,
All Employees, Nonfarm Business Sector
Series 345c. Percent Change in Average Hourly Com­
pensation

46



SERIES 345 is an index (1977 = 100) based on average
hourly compensation of employees in the nonfarm busi­
ness sector, including government enterprises.
The series is computed by the Bureau of Labor Sta­
tistics (BLS) by dividing seasonally adjusted compen­
sation (as defined above) compiled by the Bureau of
Economic Analysis (BEA) by seasonally adjusted labor
input (employee hours) estimates compiled by BLS
and converting the resulting ratios into an index.

The Handbook of Cyclical Indicators

Series 345c measures the percent change in series
345 over 1- and 4-quarter spans.
In BCD, series 345 and 345c appear under the cate­
gory ''wages and productivity."

SERIES 346 measures the spending power of average
hourly compensation of employees in the nonfarm busi­
ness sector, including government enterprises. It is
computed by deflating series 345 by the BLS Consum­
er Price Index for All Urban Consumers (CPI-U), sea­
sonally adjusted by BEA using seasonal factors provid­
ed by BLS.
Series 346c measures the percent change in series
346 over 1- and 4-quarter spans.
In BCD, series 346 and 346c appear under the cate­
gory "wages and productivity."

PROPRIETORS' INCOME
Series 282.

Proprietors' Income With Inventory Val­
uation and Capital Consumption Adjust­
ments
Series 283. Proprietors' Income With Inventory Val­
uation and Capital Consumption Adjust­
ments as a Percent of National Income
Source: U.S. Department of Commerce, Bureau of
Economic Analysis
(Data contained in these series are seasonally adjusted.)
PROPRIETORS' income with inventory valuation (IVA)
and capital consumption adjustments (CCAdj) is the
monetary income and income in kind of sole proprie­
torships and partnerships and of producers' coopera­
tives. Interest and dividend income received by pro­
prietors, and rental incomes received by persons who
are not primarily engaged in the real estate business
are excluded.
IVA and CCAdj are designed to obtain a measure of
proprietors' income in which inventories and fixed capital
are valued at replacement cost, the valuation concept
underlying national income and product accounting,
rather than historical cost, the valuation concept
underlying business accounting. CCAdj also places the
using up in production of fixed capital on a consistent
basis with respect to service lives and depreciation
formulas (straight-line). (For a more complete descrip­
tion of IVA and CCAdj, see the Corporate Profits sec­
tion in this Handbook.)

SERIES 283 measures the portion of national income
(series 220) that consists of proprietors' income (series
282). It is computed by dividing series 282 by series
220 and expressing the resulting ratios as percents.
In BCD, series 283 appears under the category
"shares of GNP and national income."

RENTAL INCOME OF PERSONS
Series 284.

Rental Income of Persons With Capital
Consumption Adjustment
Series 285. Rental Income of Persons With Capital
Consumption Adjustment as a Percent
of National Income
Source: U.S. Department of Commerce, Bureau of
Economic Analysis
(Data contained in these series are seasonally adjusted.)
RENTAL income of persons with capital consumption
adjustment (CCAdj) is the monetary income of persons
from the rental of real property, except the income of
persons primarily engaged in the real estate business;
the imputed net rental income of owner-occupants of
nonfarm dwellings; and the royalties received by persons
from patents, copyrights, and rights to natural resources.
CCAdj is designed to obtain a measure of rental income
in which fixed capital is valued at replacement cost, the
valuation concept underlying national income and prod­
uct accounting, rather than historical cost, the valua­
tion concept underlying business accounting. CCAdj
also places the using up of fixed capital on a consistent
basis with respect to service lives and depreciation
formulas (straight line). (For a more complete description
of CCAdj, see the Corporate Profits section in this
Handbook.)

SERIES 284 measures rental income, as described above.
In BCD, series 284 appears under the category
"national income and its components."

SERIES 285 measures the portion of national income
(series 220) that consists of rental income (series 284). It
is computed by dividing series 284 by series 220 and
expressing the resulting ratios as percents.
In BCD, series 285 appears under the category
"shares of GNP and national income."

NET INTEREST
SERIES 282 measures proprietors' income with IVA
and CCAdj, as described above.
In BCD, series 282 appears under the category
"national income and its components."

Series 288.
Series 289.
Source:

Net Interest
Net Interest as a Percent of National In­
come
U.S. Department of Commerce, Bureau of
Economic Analysis

(Data contained in these series are seasonally adjusted.)

BCD 1984



47

NET interest is interest paid by domestic business, less
interest received by it, plus net interest received from
abroad. Interest payments on mortgage and home
improvement loans are counted as interest paid by
business, because homeowners are treated as busi­
nesses in the national income and product accounts. In
addition to monetary interest flows, net interest includes
flows of interest in kind (imputed interest). The latter
have their counterparts in similar service charges, which
are included in personal consumption expenditures and in
government purchases.

SERIES 288 measures net interest, as defined above.
In BCD, series 288 appears under the category
"national income and its components."

SERIES 289 measures the portion of national income
(series 220) that consists of net interest (series 288).
It is computed by dividing series 288 by series 220 and
expressing the resulting ratios as percents.
In BCD, series 289 appears under the category
"shares of GNP and national income."

GROSS SAVING
Series 290. Gross Saving
Source: U.S. Department of Commerce,
Economic Analysis

Bureau of

fare funds, and private trust funds. Personal saving
equals the change in the net worth of persons, which
also may be viewed as the sum of net acquisition of
financial assets (cash and deposits, securities, and the
net equity of individuals in life insurance and in private
noninsured pension funds) and physical assets, less
the sum of net borrowing and of capital consumption
allowances with capital consumption adjustment.
"Personal outlays" is the sum of personal consump­
tion expenditures (series 230), interest paid by con­
sumers to business, and personal transfer payments to
foreigners (net). The last item consists of personal
remittances in cash and in kind sent abroad less such
remittances from abroad.
"Personal tax and nontax payments" is tax payments
(net of refunds) by persons (except personal contribu­
tions for social insurance) that are not chargeable to
business expense, and of certain other personal pay­
ments to government agencies (except government
enterprises) that it is convenient to treat like taxes.
Personal taxes includes income, estate and gift, and
personal property taxes. Nontaxes include passport
fees, fines and penalties, donations, and tuitions and
fees paid to schools and hospitals operated mainly by
government. Nontaxes generally exclude purchases by
persons from government of goods and services that
are similar to goods and services purchased by persons
from business.
In BCD, series 292 and 293 appear under the cate­
gory "saving."

(Data contained in this series are seasonally adjusted.)
GROSS saving measures private saving plus government
surplus or deficit. It includes personal saving (series
292), undistributed corporate profits with inventory
valuation and capital consumption adjustments, capi­
tal consumption allowances with capital consumption
adjustment, the excess of wage accruals over disburse­
ments (usually negligible), government surplus or defi­
cit (series 298), and net capital grants received by the
United States. (For a description of these components,
see the appropriate sections in this Handbook.)
In BCD, series 290 appears under the category
"saving."

PERSONAL SAVING
Series 292. Personal Saving
Series 293. Personal Saving Rate
Source: U.S. Department of Commerce,
Economic Analysis

Bureau of

PERSONAL saving is personal income (series 223) less
personal outlays and personal tax and nontax payments.
It is the current saving of individuals (including propri­
etors), nonprofit institutions, private noninsured wel­




SERIES 293 measures the portion of disposable personal
income (series 224) that is saved (series 292). This
series is computed by dividing series 292 by series 224
and expressing the resulting ratios as percents.

GOVERNMENT SAVING
Series 298. Government Surplus or Deficit
Source: U.S. Department of Commerce, Bureau of
Economic Analysis
(Data contained in this series are seasonally adjusted.)

(Data contained in these series are seasonally adjusted.)

48

SERIES 292 measures aggregate personal saving, as
defined above.

GOVERNMENT saving measures the difference between
government receipts and government expenditures as
recorded in the national income and product accounts.
It also may be viewed as the net acquisition of financial
assets by government and government enterprises,
and net government purchases of land and of rights to
Government-owned land including oil resources. Fed­
eral, State, and local governments are included in this
series. The series is computed by adding the Federal

The Handbook of Cyclical Indicators

surplus or deficit (series 500) to the State and local
government surplus or deficit (series 510).
Government receipts consist of personal tax and
nontax payments, corporate profits tax accruals, indi­
rect business tax and nontax accruals, and contribu­
tions for social insurance. !n addition, State and local
government receipts include Federal grants-in-aid. Gov­
ernment expenditures include purchases of goods and
services (series 260); transfer payments to persons
and to foreigners (net); net interest paid to persons,
business, and foreigners; and subsidies. They exclude
current surplus of government enterprises, dividends
received by Government, and wage accruals less dis­
bursements. Federal expenditures also include grantsin-aid to State and local governments. (For a more
complete description of government receipts and expen­
ditures, see the Government Receipts and Expenditures
section in this Handbook.)
In BCD, series 298 appears under the category
"saving."

FIXED-WEIGHTED PRICE INDEX
Series 311.

Fixed-Weighted Price Index, Gross Domes­
tic Business Product
Series 311c. Percent Change in Fixed-Weighted Price
Index, Gross Domestic Business Product
Source: U.S. Department of Commerce, Bureau of
Economic Analysis
(Data contained in these series are seasonally adjusted.)
SERIES 311 measures price changes of all items included
in gross domestic business product. It is an index
(1972=100) obtained by combining the prices of the
goods and services included in gross domestic busi­
ness product, using the composition of business prod­
uct in 1972 as weights. It differs from the implicit price
deflator for gross domestic business product, which is
the ratio of current-dollar to constant-dollar values of
the series and is based on constant-dollar, currentperiod weights. Accordingly, changes in the fixedweighted price index reflect only changes in prices;
changes in the implicit price deflator reflect both changes
in prices and changes in the composition of gross domes­
tic business product. The fixed-weighted price series
begins in 1959; data prior to 1959 are the implicit price
deflator.
"Gross domestic business product" is that part of
gross national product originating in the business sec­
tor that is attributed to labor and property located in
the United States.
"Business" consists of all organizations located in
the United States that produce goods and services for
sale at a price intended to at least approximate costs of
production. In the main, it covers corporate and non­
corporate private enterprises organized for profit. Mutual
financial institutions, private noninsured pension funds,
cooperatives, nonprofit organizations serving business,

BCD 1984



Federal Reserve banks, and federally sponsored credit
agencies and government enterprises also are includ­
ed. Owner-occupied housing, and buildings and equip­
ment owned and used by nonprofit institutions serving
individuals are considered to be business organizations
selling their current services to their owners.
Series 311c is the quarter-to-quarter percent change
in the fixed-weighted price index (series 311).
In BCD, series 311 and 311c appear under the cate­
gory "price movements."

CONSUMER PRICES
Series 320.

Consumer Price Index for All Urban Con­
sumers (CPI-U)
Series 320c. Percent Change in Consumer Price Index
for All Urban Consumers
Series 322. Consumer Price Index for All Urban Con­
sumers, Food
Series 322c. Percent Change in Consumer Price Index
for All Urban Consumers, Food
Source: U.S. Department of Labor, Bureau of Labor
Statistics
(Data contained in series 320 are not seasonally adjusted.
Data contained in series 320c, 322, and 322c are sea­
sonally adjusted.)
THE Consumer Price Index (1967 = 100) measures the
average change in the cost of a fixed market basket of
goods and services purchased by consumers. Begin­
ning January 1978, the index estimates prices paid by
all urban consumers and is designated CPI-U. These
consumers, who comprise about 80 percent of the
noninstitutional population of the United States, include
urban wage earners; clerical, professional, manageri­
al, and technical workers; the self-employed; the unem­
ployed; and retirees and others not in the labor force.
They exclude farm families, military personnel, and
persons in institutions.
Prior to 1978, the index estimated prices paid by
urban wage earners and clerical workers, a group that
includes about 40 percent of the noninstitutional
population. The Bureau of Labor Statistics (BLS) has
continued estimating this index, now called CPI-W.
The index represents price changes for everything
purchased by urban consumers—food, clothing, auto­
mobiles, homes, house furnishings, household supplies,
fuel, drugs, and recreational goods; fees to doctors,
lawyers, and beauty shops; rent; repair costs; trans­
portation fares; and public utility rates. Federal, State,
and city taxes (sales, excise, real estate, etc.) directly
associated with the purchase and continued ownership of
an item are included in the price, but income, personal
property, and social security taxes are not. Property
taxes are included in the cost of homeownership and
are implicitly included in rental cost. Prices are obtained
by personal visits to stores and service establishments—
chain and independent retail stores, professional people,

49

and repair and service shops. Rental costs are obtained
from tenants.
The quantity and quality of items contained in the
market basket are held constant except at times of
weight revisions. Therefore, CPI's reflect only changes
in prices and none of the other factors that affect fami­
ly living expenses, such as change in family composi­
tion, changes in the kinds and amounts of goods and
services families buy, or the total amount families spend
for living.
In the 1978 revision, a new market basket for the
indexes was developed, and many improvements in
pricing and calculation methods were introduced. Since
1978, prices are obtained from 85 primary sampling
units (PSU's) with 2,500 inhabitants or more in 1970
(instead of 56 urban areas as formerly). PSU's include
central cities, suburbs, and urbanized places within 25
miles of a selected county or selected groups of con­
tiguous counties. Prices also are collected outside of
the PSU's to represent out-of-town purchases. A major
innovation in the 1978 revision consisted of determin­
ing, in a scientific way, where people buy. A point-ofpurchase survey (POPS) was conducted to select for
each index population a representative sample of retail
stores, mail order houses, bowling alleys, doctors'
offices, and other places where goods and services
were bought. (Prior to 1978, data permitting a scientific
selection of outlets were unavailable.) All features of
the 1978 revision were incorporated into the index
beginning with data for January 1978. A continuous
series was obtained by linking (splicing) the new index­
es beginning January 1978 to the series through Decem­
ber 1977 at the national level.
Prior to January 1978, about 400 items were priced,
with the basis of sample selection being probability
proportionate to importance in consumer spending.
Two subsamples of items were priced in different urban
areas and in different outlet samples. Thus, all of the
most important items were priced in all of the 56 areas,
while those of lesser importance were priced in either
of the two subsamples. Detailed, rather narrowly defined
specifications were used to collect prices for items of
the same quality in successive price periods. In the
current series, approximately 265 sets of items called
item-strata, which contain 382 lower-level categories
calied entry-level items, are priced. These fairly broad
categories of goods and services are exhaustively defined
on checklists. The original selection of the specific items
to be priced in a specific retail store is generally accom­
plished by a collector using the checklist in systematic
stages that takes sales information provided by the
respondent into account in each stage. After the initital
selection, the same item (or a close substitute) is priced
from period to period to assure, as far as possible, that
differences in reported prices are measures of price
change only.
In calculating the index, price changes for the vari­
ous items in each location are combined with weights
that represent their importance in the spending of their

50



respective index population. Individual urban area data
are then combined into U.S. indexes with weights based
on estimated 1970 population of all urban consumers
or of urban wage earners and clerical workers. Almost
half of the weight is carried by the 23 largest areas and
about a quarter of the weight is carried by the 5 largest
areas.
The quantity weights currently used (beginning 1978)
represent the average purchases of the urban consumer
or urban wage earner and clerical worker population
groups in 1972-73. The basic information for this weight
calculation was obtained from the 1972-73 Consumer
Expenditure Survey covering 216 areas, adjusted for
price change between the survey dates and 1977. Most
of the expenditure information was obtained in a series
of quarterly interviews that involved about 20,000 fami­
lies and covered the calendar years 1972 and 1973.
Additionally, another sample of about 18,000 families
kept 2-week diaries to provide expenditure data for
frequent purchases, such as food and personal care
items, which are typically difficult to recall over a long­
er period. The average annual incomes were $11,745
and $12,453, respectively, for the all urban consumer
and urban wage earner and clerical worker population
groups.
In BCD, these series appear under the category "price
movements."

SERIES 320 is the CPI-U for all items. It is not adjusted
for seasonal variation.
Series 320c measures the percent change in CPI-U as
seasonally adjusted by the U.S. Department of Com­
merce, Bureau of Economic Analysis using seasonal
factors provided by BLS. Changes are computed at a
monthly rate over 1-month spans and at an annual
rate over 6-month spans.

SERIES 322 is the CPI-U for food items, exclusive of
alcoholic beverages, whether consumed at home or
away from home.
Series 322c measures the percent change in series
322 at a monthly rate over 1-month spans and at an
annual rate over 6-month spans.

PRODUCER PRICES
Series 330. Producer Price Index, All Commodities
Series 330c. Percent Change in Producer Price Index,
All Commodities
Series 331. Producer Price Index, Crude Materials
for Further Processing
Series 331c. Percent Change in Producer Price Index,
Crude Materials for Further Processing
Series 332. Producer Price Index, Intermediate Ma­
terials, Supplies, and Components

The Handbook of Cyclical Indicators

Series 332c. Percent Change in Producer Price Index,
Intermediate Materials, Supplies, and
Components
Series 333. Producer Price Index, Capital Equipment
Series 333c. Percent Change in Producer Price Index,
Capital Equipment
Series 334. Producer Price Index, Finished Consum­
er Goods
Series 334c. Percent Change in Producer Price Index,
Finished Consumer Goods
Series 335. Producer Price Index, Industrial Com­
modities
Series 335c. Percent Change in Producer Price Index,
Industrial Commodities
Series 98.
Percent Change in Producer Prices for
28 Sensitive Crude and Intermediate Ma­
terials
Source: U.S. Department of Labor, Bureau of Labor
Statistics; U.S. Department of Commerce,
Bureau of Economic Analysis
(Data contained in series 330, 330c, 335, and 335c are
not seasonally adjusted. Data contained in the remain­
ing series are seasonally adjusted.)
PRODUCER Price Indexes (1967 = 100) measure aver­
age changes in prices received in primary markets in
the United States (including Alaska and Hawaii) by pro­
ducers of commodities at all stages of processing. They
are designed to measure " p u r e " price changes; i.e.,
price changes not influenced by changes in quality,
quantity, shipping terms, or product mix.
The sample used to calculate these indexes contains
about 2,800 commodities and about 10,000 quotations
per month, selected to represent the movement of
prices of all commodities produced in the agriculture,
forestry, and fishing; mining; manufacturing; and elec­
tric, gas, and other public utilities sectors. The uni­
verse includes crude, manufactured, and processed
goods produced in the United States and those imported
for sale in commercial transactions in primary markets
in the United States. Civilian goods normally purchased
by the government and goods that compete with those
made in the producing sector (such as waste paper and
scrap materials) also are included. In addition, gov­
ernment sales of some commodities (e.g., electric power)
are included if they are considered competitive with
free market sales. Individually priced items (e.g., works of
art), goods transferred between establishments owned
by the same company, goods sold at retail by producerowned retail establishments, and military goods are
excluded.
Each commodity in the indexes is defined by precise
specifications that incorporate its principal pricedetermining characteristics. Insofar as possible, pric­
es applicable to the first significant transaction in the
United States are used. Therefore, transactions for the
same item at later stages of distribution are not included.
However, as raw materials are transformed into semi­

BCD 1984



finished or finished goods, the resulting products are
represented. Most of the quotations are selling prices
of representative producers, or are prices quoted on
organized exchanges or markets. Companies are re­
quested to report all discounts, allowances, rebates,
and free deals. List or book prices are used if transac­
tion prices are unobtainable. Prices are generally f.o.b.
production or central marketing point to avoid reflec­
tion of changes in transportation costs. However, deliv­
ered prices are included if quotations on this basis are
customary in the industry. Subsidies to the producer
and excise taxes, which are not considered part of the
price, are excluded; but duties on imported goods are
included in the selling price.
Through 1951, the index was based on simple arith­
metic averages of the four or five weekly prices for
each month, and each weekly price was the one that
prevailed on a specific day of the week. Beginning in
1952, the prices prevailing on a particular day of the
month are used most often—usually Tuesday of the
week containing the 15th of the month through 1966,
and usually Tuesday of the week containing the 13th of
the month beginning January 1967. For some commodi­
ties (particularly farm products), a day other than Tues­
day is selected because it is considered more repre­
sentative. For some other products (principally fuels),
an average of prices throughout the month is used,
resulting in a 1-month lag between the price reference
month and the index month.
Calculation of an individual commodity price index
starts with the average of prices for individual compa­
ny reporters, with each reporter usually having equal
weight regardless of differences in company size. The
price change relative (the ratio of the current month's
average price to the previous month's average price) is
then applied to the previous month's index to derive
the current month's index. To derive indexes for com­
modity groupings, each commodity price relative is
first weighted with its own shipment value plus the
shipment values of related commodities not directly
priced whose prices are assumed to move similarly.
The individual weighted commodity price relatives are
summed to produce a commodity grouping aggregate,
which is then divided by its corresponding weighted
value in the index base period.
Weights are periodically revised when data from new
industrial censuses become available—weights from
the 1972 Industrial Census were incorporated in Janu­
ary 1976. The major sources of the value data used to
compute weights are the U.S. Department of Commerce,
Bureau of the Census; the U.S. Department of the Inte­
rior, Bureau of Mines and Bureau of Fisheries; and the
U.S. Department of Agriculture. Other sources, such as
trade associations, are used also. Import data are
obtained from the Census Bureau.
The stage-of-processing indexes regroup each item
priced according to class of buyer and amount of pro­
cessing, manufacturing, or assembling it undergoes
before entering the market. The interindustry transaction

51

study for 1972 by the Bureau of Economic Analysis
(BEA) is currently used for allocations among the stag­
es of processing.
In BCD, series 330, 330c, 331, 331c, 332, 332c, 333,
333c, 334, 334c, 335, and 335c appear under the cat­
egory "price movements." Series 98 appears under
the economic process "prices, costs, and profits."

SERIES 330 is the price index for all goods produced or
imported for sale in primary markets in the United
States.
Series 330c measures the percent change in series
330 at a monthly rate over 1-month spans and at an
annual rate over 6-month spans.

SERIES 331 is the price index for materials that are
entering the economy for the first time and have under­
gone no processing other than that required to obtain
them in their original form and prepare them for mar­
keting. Waste materials that can replace raw materials
and products of farms, mines, fisheries, quarries, and
well operations are included. Both foodstuffs and nonfood
materials are included but some crude materials (for
example, food or coal going directly to the consumer)
are not.
Series 331c measures the percent change in series
331 at a monthly rate over 1-month spans and at an
annual rate over 6-month spans.

SERIES 332 is the price index for those partially pro­
cessed commodities that require further processing
before they become finished goods.
Series 332c measures the percent change in series
332 at a monthly rate over 1-month spans and at an
annual rate over 6-month spans.

SERIES 333 is the price index for commodities used in
industry or commerce to produce or transport other
commodities. Items such as machine tools, trucks, and
farm equipment are included.
Series 333c measures the percent change in series
333 at a monthly rate over 1-month spans and at an
annual rate over 6-month spans.

SERIES 334 is the price index for durable and nondura­
ble finished goods ready for use by final consumers.
Series 334c measures the percent change in series
334 at a monthly rate over 1-month spans and at an
annual rate over 6-month spans.

SERIES 335 is the price index for industrial commodi­
ties. It includes textile products and apparel; hides,

52



skins, leather, and related products; fuels and related
products and power; chemicals and allied products;
rubber and plastic products; lumber and wood prod­
ucts; pulp, paper, and allied products; metals and metal
products; machinery and equipment; furniture and
household durables; nonmetallic mineral products;
transportation equipment; and miscellaneous industrial
products.
Series 335c measures the percent change in series
335 at a monthly rate over 1-month spans and at an
annual rate over 6-month spans.

SERIES 98 measures the month-to-month percent
change in a producer price index for 28 intermediate
and crude materials. It is computed by BEA using price
indexes of the Bureau of Labor Statistics. The index
includes prices for the following commodities: Cattle
hides; natural rubber; 6 wastepaper components (No.
1 news, No. 1 mixed, old corrugated boxes, semi-kraft
clippings, mixed-kraft clippings, and white news blanks);
7 iron and steel scrap components (No. 1 heavy melt­
ing; No. 2 heavy melting; No. 1 bundles; No. 2 bundles;
melting, railroad No. 1; stainless bundles; and No. 1
cupola cast iron); 3 nonferrous metal scrap compo­
nents (copper base scrap; aluminum base scrap; and
other nonferrous scrap, n.e.c); 5 fibers components
(domestic apparel wool, foreign apparel wool, foreign
carpet wool, raw cotton, and hard fibers); 4 lumber and
wood components (lumber, millwork, plywood, and other
wood products); and sand, gravel, and crushed stone.
The components are seasonally adjusted prior to being
combined into the 28-commodity index.

OUTPUT PER HOUR
Series 370.

Index of Output Per Hour, All
Business Sector
Series 370c. Percent Change in Output Per
Persons, Business Sector
Series 358. Index of Output Per Hour, All
Nonfarm Business Sector
Source: U.S. Department of Labor, Bureau
Statistics

Persons,
Hour, All
Persons,
of Labor

(Data contained in these series are seasonally adjusted.)
THE index (1977 = 100) of output per hour is a produc­
tivity measure based on changes in the ratio of output
to labor input. Productivity is defined as the constantdollar value of final goods and services produced within
a certain period in relation to paid hours, including
hours paid for holidays, vacation, and sick leave. Hours
of employees, proprietors, and unpaid family workers
are included. Index changes through time reflect the
joint effects of many influences, such as changes in
technology, capital investment, layout and flow of mate­
rials, capacity utilization, energy use, managerial skills,
and skills and efforts of the work force.

The Handbook of Cyclical Indicators

Real gross domestic product, compiled by the U.S.
Department of Commerce, Bureau of Economic Analy­
sis (BEA), is used as the output measure. It is the mar­
ket value, in 1972 dollars, of the goods and. services
produced by labor and property located in the United
States. Labor input data are based primarily on the
hours and employment series compiled by the Bureau
of Labor Statistics from monthly reports submitted by
nonagricultural establishments to State employment
security agencies. Estimates are computed separately
for each industry and are then aggregated. (For a more
detailed description of these series, see the Employment, Hours, and Earnings section in this Handbook.)
For proprietors, unpaid family workers, and persons
engaged in the farm sector, where establishment data
are not available, data from the national income and
product accounts compiled by BEA, or data from the
current population survey (CPS) compiled by the U.S.
Department of Commerce, Bureau of the Census are
used to develop hours and employment estimates.
Weekly hours data from the CPS are adjusted to elimi­
nate distortions due to holidays.
In BCD, series 370, 370c, and 358 appear under the
category "wages and productivity."

SERIES 370 is an index (1977=100) that is a productivity
measure for the business sector. The business sector
includes agriculture, forestry, and fisheries; mining;
construction; manufacturing; transportation and pub­
lic utilities; wholesale and retail trade; finance, insur­
ance, and real estate; services; and government enter­
prises. It excludes government, private households,
gross housing product of owner-occupied dwellings,
nonprofit institutions, and rest of the world.
Series 370c measures the percent change in series
370 over 1- and 4-quarter spans.

SERIES 358 is an index (1977 = 100) that is a produc­
tivity measure of the nonfarm business sector. In addi­
tion to the exclusions listed under series 370, series
358 excludes farms.

WAGE AND BENEFIT DECISIONS
Series 348.

Negotiated Wage and Benefit Decisions,
Average First-Year Changes
Series 349. Negotiated Wage and Benefit Decisions,
Average Changes Over Life of Contract
Source: U.S. Department of Labor, Bureau of Labor
Statistics

(Data contained in these series are not seasonally
adjusted.)
THESE series measure wage and benefit changes, in
private nonfarm industries, resulting from collective
bargaining settlements affecting 5,000 or more work­

BCD 1984



ers. The series cover production and related workers
in manufacturing and nonsupervisory workers in nonmanufacturing industries. All settlements—including
those increasing, decreasing, or making no change in
pay—are covered. Compensation changes are expressed
as a percent of total compensation, including legally
required employer contributions for social insurance.
The average change in compensation is derived by com­
puting the average change for all workers affected by
each decision reached during the quarter, and by then
combining these averages using number of workers as
weights.
In BCD, series 348 and 349 appear under the cate­
gory "wages and productivity."

SERIES 348 measures changes in wages and benefits
that go into effect within the first 12 months after the
effective date of the agreement.

SERIES 349 measures the total changes in wages and
benefits over the life of the agreement expressed as an
average annual rate of change.

GOVERNMENT RECEIPTS AND
EXPENDITURES, NATIONAL INCOME
AND PRODUCT ACCOUNTS
Series 501.
Series 511.
Series 502.
Series 512.
Series 500.
Series 510.
Source:

Federal Government Receipts
State and Local Government Receipts
Federal Government Expenditures
State and Local Government Expenditures
Federal Government Surplus or Deficit
State and Local Government Surplus or
Deficit
U.S. Department of Commerce, Bureau of
Economic Analysis

(Data contained in these series are seasonally adjusted.)
THESE series represent government transactions as
recorded in the national income and product accounts
(NIPA's). The Federal, State, and local government
sectors are recorded in a manner consistent with the
conceptual treatment of the other sectors in the NIPA's.
The government sector records receipts from busi­
ness on an accrual basis and receipts from individuals
on a payments basis. Purchases of goods and services
are recorded'largely on a delivery basis; transfer
payments and grants-in-aid to State and local gov­
ernments are recorded on a cash basis; and net inter­
est paid and subsidies less the current surplus of gov­
ernment enterprises are recorded on an accrual basis.

SERIES 501 measures Federal Government receipts;
series 511 measures State and local government
receipts.

53

"Government receipts" consists of personal tax and
nontax receipts, corporate profits tax accruals, indi­
rect business tax and nontax accruals, and contribu­
tions for social insurance. State and local government
receipts also include Federal grants-in-aid.
"Personal tax and nontax receipts' 1 consists of tax
payments (net of refunds) by persons (except personal
contributions for social insurance) that are not charge­
able to business expense, and of certain other personal
payments to government agencies (except government
enterprises) that it is convenient to treat like taxes.
Personal taxes include income, estate and gift, and
personal property taxes. Nontaxes include passport
fees, fines and penalties, donations, and tuitions and
fees paid to schools and hospitals operated mainly by
government. Nontaxes generally exclude purchases by
persons from government of goods and services that
are similar to goods and services purchased by persons
from business.
"Corporate profits tax accruals" consists of Federal,
State, and local taxes on corporate income. Earnings
of the Board of Governors of the Federal Reserve Sys­
tem paid to the U.S. Treasury also are included.
"Indirect business tax and nontax accruals" consists
of tax liabilities (except employer contributions for social
insurance) that are chargeable to business expense in
the calculation of profit-type incomes, and of certain
other business liabilities to government agencies (except
government enterprises) that it is convenient to treat
like taxes. Indirect business taxes include customs duties,
sales taxes, excise taxes (such as liquor, tobacco, and
gasoline), property taxes, and the windfall profit tax on
crude oil production. Nontaxes include regulatory and
inspection fees, special assessments, fines and penalties,
rents and royalties, and donations. Nontaxes generally
exclude business purchases from government of goods
and services that are similar to business purchases of
intermediate products from other businesses. Gov­
ernment receipts from the sale of such products are
netted against government purchases so that they do
not appear in gross national product and other meas­
ures of production.
"Contributions for social insurance" includes pay­
ments by employers, employees, self-employed persons,
and other individuals who participate in the following
programs: Federal old-age, survivors, disability, and
hospital insurance; supplementary medical insurance;
State unemployment insurance; railroad retirement
and unemployment insurance; government retirement;
publicly administered workers' compensation; and vet­
erans life insurance.
In BCD, series 501 and 511 appear under the cate­
gory "receipts and expenditures."

SERIES 502 measures Federal Government expendi­
tures; series 512 measures State and local government
expenditures.

54



"Government expenditures" consists of purchases
of goods and services, transfer payments, net interest
paid, and subsidies less current surplus of government
enterprises, less dividends received by government
and wage accruals less disbursements. In addition, Fed­
eral expenditures include grants-in-aid to State and
local governments.
"Purchases of goods and services" is the compensa­
tion of government employees and government pur­
chases from business and from abroad. It excludes
transfer payments, interest paid by government, and
subsidies. It includes gross investment by government
enterprises, but excludes their current outlays. It also
includes net purchases of used goods, but excludes
sales and purchases of land and financial assets.
"Transfer payments" includes payments to persons
and foreigners. "Transfer payments to persons" is in­
come payments to persons, generally in monetary form,
for which they do not render current services. It in­
cludes payments under the following programs: Federal
old-age, survivors, disability, and hospital insurance;
supplementary medical insurance; State unemployment
insurance; railroad retirement and unemployment in­
surance; government retirement; workers' compensa­
tion; veterans benefits, including veterans life insurance;
food stamps; black lung benefits; supplemental security
income; and direct relief. Government payments to
nonprofit institutions, other than for work under re­
search and development contracts, are included also.
"Transfer payments to foreigners" is U.S. Government
nonmilitary grants to foreign governments in cash and
in kind and U.S. Government transfer payments, mainly
retirement benefits, to former residents of the United
States.
"Net interest paid" is interest paid by government to
persons, business, and foreigners less interest received
by government. Interest paid to foreigners is interest
paid to foreign business, governments, and persons.
"Subsidies" is the monetary grants paid by govern­
ment to business, including government enterprises at
another level of government.
"Dividends received by government" consists of divi­
dends received by State and local government social
insurance funds.
"Wage accruals less disbursements" consists of mone­
tary remuneration earned less monetary remuneration
paid.
"The current surplus of government enterprises" is
their sales receipts less their current outlays. In the
calculation of their current surplus, no deduction is
made for depreciation charges or for net interest paid.
Subsidies and current surplus often are combined
because deficits incurred by government enterprises
may result from selling goods to business at lower than
market price in lieu of subsidies. This is also the major
reason for not counting the current surplus of govern­
ment enterprises as a profit-type income and, ac­
cordingly, as a part of factor charges.

The Handbook of Cyclical Indicators

"Grants-in-aid to State and local governments" con­
sists of Federal payments to these governments, other
than for net interest payments. Major grants-in-aid
are for public assistance, highways, education, general
revenue sharing, and environmental protection. Also
included are payments to public educational institu­
tions for research and development contracts.
In BCD, series 502 and 512 appear under the cate­
gory "receipts and expenditures."

SERIES 500 measures Federal Government surplus or
deficit; series 510 measures State and local govern­
ment surplus or deficit.
"Surplus or deficit" is the sum of government receipts
less the sum of government expenditures. It also may
be viewed as the net acquisition of financial assets by
government and government enterprises, and net gov­
ernment purchases of land and of rights to governmentowned land including oil resources.
In BCD, series 500 and 510 appear under the cate­
gory "receipts and expenditures."

DEFENSE DEPARTMENT OBLIGATIONS
Series 517.

Defense Department Gross Obligations
Incurred
Series 543. Defense Department Gross Unpaid Obli­
gations Outstanding
Source: U.S. Department of Defense, Office of the
Assistant Secretary of Defense (Comptroller),
Directorate for Program and Financial Control
(Data contained in these series are seasonally adjust­
ed by the U.S. Department of Commerce, Bureau of
Economic Analysis; series 517 is adjusted also for holi­
day and working day differences.)
OBLIGATIONS of the U.S. Department of Defense (DOD)
cover the following appropriations accounts: Military
personnel; operations and maintenance; procurement;
research, development, test, and evaluation; military
construction; and family housing.
In BCD, series 517 and 543 appear under the cate­
gory "defense indicators."

SERIES 517 measures the amounts of obligations record­
ed from source documents in official accounting records
of military departments and defense agencies, such as
signed contracts or any other instrument that legally
binds the Government to payment of funds. Coverage
extends only to general fund accounts; obligations
incurred in revolving funds are excluded. Obligations
resulting from the placement of an order for materials
or services by one Government agency at the request
of another are counted twice—when the request is
made and when the order is placed with a private sup­

BCD 1984



plier. This duplication averages about 9 percent of total
obligations. Therefore, this series is not comparable to
DOD outlays (series 580), which are net of payments to
one Government unit by another.

SERIES 543 measures obligations incurred by DOD for
which it has not expended funds. Coverage extends
only to general fund accounts; obligations in revolving
funds are excluded. Unpaid obligations for military assis­
tance and reservation of funds are excluded prior to
July 1963 and subsequent to September 1979. From
July 1963 to June 1966, only unpaid obligations for
military assistance are included; from July 1966 to
September 1979, both unpaid obligations and reserva­
tions of funds are included.

DEFENSE DEPARTMENT PRIME
CONTRACT AWARDS
Series 525.

Source:

Defense Department Prime Contract
Awards for Work Performed in the United
States
U.S. Department of Defense, Office of the
Assistant Secretary of Defense (Comptroller),
Washington Headquarters Services, Directorate for Information Operations and Reports

(Data contained in this series are seasonally adjusted
by the U.S. Department of Commerce, Bureau of Eco­
nomic Analysis.)
SERIES 525 measures contract awards (legally binding
instruments) executed by the U.S. Department of
Defense (DOD) or its component military departments
and defense agencies for research and development or
construction, or to obtain equipment, supplies, or ser­
vices. New instruments, modifications in excess of
$10,000, and cancellation of instruments are included.
Prior to October 1981, awards paid from post exchange
or similar nonappropriated funds and contracts for civil
functions (such as flood control or river and harbor
work performed by the U.S. Army Corps of Engineers)
are not included. Beginning with October 1981, the
awards include military and civil functions. Project orders
issued to plants and shipyards owned and operated by
the Government are not included, but contracts exe­
cuted by such establishments are.
The series includes awards made by DOD compo­
nents on behalf of other Federal agencies (e.g., National
Aeronautics and Space Administration) and on behalf
of foreign governments under both military assistance
grant-aid and sales arrangements. It also includes orders
written by DOD components requesting a Federal agency
to furnish supplies or services.
In BCD, series 525 appears under the category
"defense indicators."

55

DEFENSE DEPARTMENT PERSONNEL
Series 577.

Defense Department Military Personnel
on Active Duty
Series 578. Defense Department Civilian Personnel,
Direct Hire Employment
Source: U.S. Department of Defense, Office of the
Assistant Secretary of Defense (Comptroller),
Washington Headquarters Services, Directorate for Information Operations and Reports

(Data contained in these series are not seasonally
adjusted.)
SERIES 577 measures the number of persons on con­
tinuous or extended active duty. It excludes reserves
on temporary active duty for reserve training.
In BCD, series 577 appears under the category
"defense indicators."

SERIES 578 measures the number of persons who occupy
positions in the Defense Department in a civilian capacity
on the last day of the calendar month and who are paid
for personal services rendered, regardless of the nature
of appointment or method of payment. The series
includes persons who are direct-hire, full-time or parttime, and either permanent, temporary, or intermit­
tent employees.
In BCD, series 578 appears under the category
"defense indicators."

DEFENSE DEPARTMENT OUTLAYS
Series 580.
Source:

Defense Department Net Outlays, Mili­
tary Functions and Military Assistance
U.S. Department of Defense, Office of the
Assistant Secretary of Defense (Comptroller),
Directorate for Program and Financial Control

(Data contained in this series are adjusted for holiday
and warking day differences and for seasonal varia­
tions by the U.S. Department of Commerce, Bureau of
Economic Analysis.)
SERIES 580 measures gross payments less collections,
including revolving funds and military assistance, by
military departments and defense agencies. Payments
represent checks issued and exclude payments by one
agency or unit to another. Expenditures during any
fiscal year may be payments of obligations incurred in
prior years or in the same year.
Beginning January 1968, the data include military
trust funds, exclude family housing debt repayments,
and are reduced by proprietary receipts, which arise
from activities of the U.S. Department of Defense that
are of a business enterprise nature.
The net outlays cover appropriations accounts for
military personnel; operations and maintenance; pro­

56



curement; research, development, test, and evaluation;
military construction; and family housing.
In BCD, series 580 appears under the category
"defense indicators."

FOREIGN TRADE
Series 602.
Series 604.

Exports, Excluding Military Aid Shipments
Exports of Domestic Agricultural Prod­
ucts
Series 606. Exports of Nonelectrical Machinery
Series 612. General Imports
Series 614. imports of Petroleum and Petroleum
Products
Series 616. Imports of Automobiles and Parts
Source: U.S. Department of Commerce, Bureau of
the Census
(Data contained in these series are adjusted for holi­
day and working day differences and for seasonal vari­
ations. Series 602 and 612 are adjusted by the Bureau
of the Census. Series 604, 606, 614, and 616 are adjusted
by the U.S. Department of Commerce, Bureau of Eco­
nomic Analysis.)
THESE series measure the dollar value of domestic and
foreign merchandise shipped between the U.S. Cus­
toms area and foreign countries, without regard to
method of financing or whether exportation takes place in
connection with a commercial transaction. The U.S.
Customs area includes the 50 States, the District of
Columbia, Puerto Rico and, beginning in 1974, the Vir­
gin Islands.
Domestic merchandise exports include commodities
that are grown, produced, or manufactured in the United
States, and foreign merchandise imported into the Unit­
ed States and subsequently exported after undergoing
some change in form or enhancement in value as a
result of further manufacture in the United States.
Foreign merchandise exports include merchandise
imported into the United States and subsequently
exported in the same condition as when imported.
The value reported in the export statistics generally
is equivalent to the free alongside ship (f.a.s.) value at
the U.S. port of exportation. It is based on the transac­
tion price, including inland freight, insurance, and other
charges, incurred in placing the merchandise along­
side the carrier at the U.S. port of exportation.
U.S. exports exclude U.S. Department of Defense
shipments designated for use by the U.S. Armed Forc­
es; shipments to U.S. diplomatic missions abroad for
their own use; shipments between the United States
and Puerto Rico, between the United States and its
possessions, or between these possessions; exports
from U.S. possessions to foreign countries; intransit
shipments through the United States (documented with
Customs) that are going from one foreign country to
another; bunker fuel, supplies, and equipment for ves­
sels and planes engaged in foreign trade; and some

The Handbook of Cyclical Indicators

types of relatively small shipments, such as personal
and household effects of U.S. travelers and goods for
the personal use of U.S. Government employees abroad.
Beginning January 1978, exports of nonmonetary gold
in the form of ore, scrap, and base bullion and non­
monetary refined bullion are included.
General imports include merchandise released from
Customs custody immediately upon arrival, and mer­
chandise entered into bonded storage warehouses,
bonded manufacturing warehouses, and bonded smelting
and refining warehouses immediately upon arrival.
Through December 1973, imports were valued as
appraised by the U.S. Customs Service in accordance
with the legal requirements of Sections 402 and 402A
of the Tariff Act of 1930, as amended. The appraisal
might be based on the foreign market value, export
value, constructed value, or American selling price. It
generally represented a value in the foreign country,
and therefore excluded U.S. import duties, freight, insur­
ance, and other charges incurred in bringing the mer­
chandise to the United States. This valuation was pri­
marily used for collection of import duties and frequently
did not reflect the actual transaction value. Effective
January 1974, imports are valued at the Customs value
that represents the price actually paid or payable for
merchandise when sold for exportation to the United
States. The value is based on the purchase price, and
generally includes all charges incurred in placing the
merchandise alongside the carrier at the port of exporta­
tion in the country of exportation.
Prior to 1978, the date of entry (DOE)—the date the
Customs officials accepted the import entry docu­
ments—was used to determine the month in which the
imports were included in the statistics. Effective Janu­
ary 1978, the date of importation (DOI)—the date the
merchandise actually entered the country—reported
on the import entry documents is used to determine
the month in which the imports are included in the
statistics.
U.S. imports exclude American goods returned by
the U.S. Armed Forces; shipments into U.S. possessions;
shipments between the United States and Puerto Rico,
between the United States and its possessions, or
between these possessions; imports of U.S. possessions;
intransit shipments from one foreign country to another
through the United States when documented with Cus­
toms; temporary shipments; and relatively small ship­
ments, such as personal and household effects of trav­
elers, low-valued nondutiable imports by mail, and issued
monetary coins of all component metals. Beginning
January 1978, imports of nonmonetary gold in the form of
ore, scrap, and base bullion and nonmonetary refined
bullion are included.
Data are compiled primarily from copies of Shippers'
Export Declaration, and import entry and warehouse
withdrawal forms filed with U.S. Customs officials.
In BCD, these series appear under the category "mer­
chandise trade."

BCD1984



SERIES 602 measures the value of U.S. exports, as
defined above. Shipments for economic assistance under
the Foreign Assistance Act and shipments under P.L.
480 (The Agricultural Trade Development and Assis­
tance Act of 1954, as amended) and related laws are
included; U.S. Department of Defense Military Assis­
tance Program Grant-Aid shipments are excluded.

SERIES 604 measures the value of U.S. exports of
domestic agricultural products—crops, livestock, and
livestock products.

SERIES 606 measures the value of U.S. exports of non­
electrical machinery. It includes steam engines and
turbines; internal combustion engines; construction,
mining, and material-handling equipment; office ma­
chinery and computers; service industry machinery;
farm machinery and equipment; metalworking machin­
ery; and miscellaneous nonelectrical equipment.

SERIES 612 measures the value of U.S. imports as
defined above.

SERIES 614 measures the value of petroleum and
petroleum products imported into the United States.

SERIES 616 measures the value of automobiles and
parts imported into the United States.

INTERNATIONAL TRANSACTIONS
Series 668.

Exports of Goods and Services, Excluding
Transfers Under U.S. Military Grants
Series 669. Imports of Goods and Services
Series 667. Balance on Goods and Services
Series 618. Merchandise Exports, Adjusted, Excluding
Military
Series 620. Merchandise Imports, Adjusted, Excluding
Military
Series 622. Balance on Merchandise Trade
Series 651. Income on U.S. Investment Abroad
Series 652. Income on Foreign Investment in the United
States
Source: U.S. Department of Commerce, Bureau of
Economic Analysis
(Data contained in these series are seasonally adjusted.)
DATA for these series are major components from the
international transactions accounts of the United States
prepared by the Bureau of Economic Analysis (BEA).
These accounts summarize economic transactions be-

57

tween residents of the United States and the rest of
the world. Exports of goods and services include mer­
chandise exports, military sales of goods and services,
income received on U.S. investment abroad, and exports
of other services. Imports include merchandise imports,
military expenditures for goods and services, income
paid on foreign investment in the United States, and
imports of other services.
Merchandise exports and imports are based on official
U.S. foreign trade statistics compiled by the U.S.
Department of Commerce, Bureau of the Census after
adjustments by BEA for valuation, coverage, and tim­
ing. The major adjustments to exports are the deduc­
tion of sales by U.S. defense agencies, the addition of
shipments to Canada that were undercounted in U.S.
export documents, and the addition of nonmonetary
gold. The major adjustments to imports are the deduc­
tion of imports of U.S. defense agencies, the addition
of inland freight to imports from Canada, and the addi­
tion of nonmonetary gold and of electricity. Exports
and imports of U.S. defense agencies are included in
" o t h e r " exports and imports. The addition of Virgin
Islands foreign trade to U.S. exports and imports was
an adjustment made by BEA until 1980. Beginning with
1981, the Census Bureau data on U.S. exports and
imports include foreign trade of the Virgin Islands.
The investment income portion of exports includes
dividends, interest, and branch profits received by U.S.
companies from their foreign affiliates; the U.S. share
of reinvested earnings of foreign affiliates; dividends
and interest on foreign securities held by U.S. resi­
dents; interest on bank and nonbank claims; and income
received by the U.S. Government on its loans abroad.
Foreign taxes are excluded.
The investment income portion of imports includes
dividends, interest, and branch profits paid on foreign
direct investments in the United States; the foreign
share of reinvested earnings of U.S. affiliates; and interest
and dividends on U.S. private and Government securi­
ties, bank and nonbank liabilities, and other assets held
in the United States by foreigners. U.S. withholding
taxes are not included.
Other exports of goods and services consist of cash
and credit sales to foreigners by U.S. defense agencies
through the foreign military sales program and receipts
for transportation services, travel by foreign visitors to
the United States, royalties and fees, and miscellaneous
services rendered by private and U.S. Government nonmilitary agencies.
Other imports of goods and services consist of
expenditures abroad by U.S. defense agencies (includ­
ing imports into the United States) and by other U.S.
Government agencies and payments for transportation
services, travel, royalties and fees, and miscellaneous
private services.
The export and import series in the national income
and product accounts (series 250, 252, and 253) are
derived by adjusting the series in the international
accounts to national income and product accounts con­

58



cepts. (For a description of adjustments, see the Exports
and Imports of Goods and Services section in this
Handbook.)
In BCD, these series appear under the category
"goods and services movements."

SERIES 668 measures the value of exports, as defined
above.

SERIES 669 measures the value of imports, as defined
above.

SERIES 667 measures the value of U.S. net exports.
Net exports is equal to the difference between exports
(series 668) and imports (series 669).

SERIES 618 measures the nonmilitary merchandise
portion of U.S. exports of goods and services.

SERIES 620 measures the nonmilitary merchandise
portion of U.S. imports of goods and services.

SERIES 622 measures the value of U.S. net nonmilitary
merchandise exports. It is computed by subtracting
merchandise imports (series 620) from merchandise
exports (series 618).

SERIES 651 measures the investment income portion
of U.S. exports.

SERIES 652 measures the investment income portion
of U.S. imports.

INDUSTRIAL PRODUCTIONINTERNATIONAL
Series 47.
United States
Source: Board of Governors of the Federal Reserve
System
Series 721.

Source:

Organization for Economic Cooperation
and Development (OECD), European Coun­
tries
Organization for Economic Cooperation and
Development (Paris)

Series 722. United Kingdom
Source: Central Statistical Office (London)

The Handbook of Cyclical Indicators

Series 723. Canada
Source: Statistics Canada (Ottawa)
Series 725. West Germany
Source: Statistiches Bundesamt (Wiesbaden)
Series 726. France
Source: Institut National de la Statistique et des Etudes
Economiques (Paris)
Series 727. Italy
Source: Istituto Centrale di Statistica (Rome)
Series 728. Japan
Source: Ministry of International
(Tokyo)

Trade and Industry

(Data contained in these series are seasonally adjusted.)
INDEXES of industrial production measure changes in
value added by industrial activity expressed in constant
prices. With few exceptions, the indexes are calculated
according to the Laspeyres formula, which uses a weight­
ed arithmetic average and a fixed base period. Howev­
er, moving base periods are employed in some countries.
The weights used to compute the index generally are
proportionate to the industry's value added at factor
cost and are determined from industrial census data
for each nation. These values are obtained by deduct­
ing the cost of the consumption of raw materials, fuels,
containers, subcontracted work, and other industrial
services from the value of gross output.
To facilitate comparison, industrial production indexes
shown in BCD are converted to a 1967 = 100 base by
the U.S. Department of Commerce, Bureau of Economic
Analysis, but the indexes retain the original base weights.
Series that are not seasonally adjusted by the national
statistical agency are adjusted by the Organization for
Economic Cooperation and Development (OECD).
In BCD, these series appear under the international
comparison category "industrial production/'

SERIES 47 (United States) is described in the Industrial
Production section of this Handbook.

SERIES 721 (OECD, Europe) combines industrial pro­
duction indexes computed by national statistical agencies
to form a total output measure for the majority of
European countries that are members of the OECD.
Austria, Belgium, Luxembourg, Finland, France, West
Germany, Greece, Ireland, Italy, The Netherlands, Nor­
way, Portugal, Spain, Sweden, Switzerland, and the
United Kingdom are included.
The index for each country is converted to a 1975=100
base. The weight for each nation's index is determined
by the country's share in OECD total gross domestic
product of industrial origin.

SERIES 722 (United Kingdom) covers mining, manu­
facturing (excluding slaughtering, fish curing, and
packaging by wholesalers; milk bottling without pro­
cessing; custom tailoring and dressmaking; automo­
bile, musical instrument, jewelry, and other repair work),
electricity, gas, and water.
Virtually all of the 183 components measure physical
quantities produced or delivered, or constant-dollar
value of sales or deliveries.
The index is calculated as a base-weighted arith­
metic average (1975=100). The components are linked
at 1975 to indexes with 1970=100; earlier data are
derived from indexes with 1968-70=100, 1963=100,
1958=100, 1954=100, and 1948=100.
Monthly link relatives derived from sample data are
used to compute the component indexes. The indexes
are combined first into detailed industrial activity groups
and then into broader industrial classes and total indus­
trial activity. The components are adjusted for working
day differences and for seasonal variations.
At each stage of the calculation, weights are propor­
tionate to the component's contribution to gross domes­
tic product at factor cost in 1975. Weights have been
estimated from value-added data by industry from the
1975 Census of Production and have been adjusted, as
far as possible, to exclude the cost of services pur­
chased from other industries.

SERIES 723 (Canada) covers mining; manufacturing;
and electric power, gas, and water utilities. The indus­
tries surveyed accounted for about 30 percent of gross
domestic product at factor cost in 1971.
Quantity of gross output of individual products,
employee hours worked, quantity of individual raw mate­
rials consumed, or value of gross production of individ­
ual commodities adjusted for price changes (compiled
mainly from the results of official inquiries) are used to
compute the components. Annual indexes, based on
more complete information, are calculated separately
and the monthly indexes then are adjusted to the level
of the respective annual index, when it becomes
available.
The index is calculated as a base-weighted arith­
metic average (1971 = 100). The components are linked
at 1971 to indexes with 1961 = 100 and at 1961 to
indexes with 1949=100. Earlier indexes are based on
1935=100 and 1926 = 100.
Monthly relatives derived from the indicators of output
are used to compute industry indexes. The industry
indexes are combined into industry groups and these,
in turn, into broader classes of industrial activity, using
weights derived from gross domestic product at factor
cost in 1971. The indexes are adjusted for working day
differences and for seasonal variations.

SERIES 725 (West Germany) covers mining, manufac­
turing, construction, electricity, and gas. The sample

BCD 1984



59

accounted for 77 percent of industrial value added in
1970.
Quantity of output, deflated value of output, deflated
value of sales, raw materials consumed, or employee
hours worked adjusted for productivity are used to
compute the components.
The index is calculated as a base-weighted arith­
metic average (1970=100). The components are linked
at 1970 to indexes with 1962 = 100 and at 1962 to
indexes with 1958=100. Earlier indexes are based on
1950=100.
Industry indexes are computed using monthly rela­
tives of the indicators of output. They are combined
into industry groups. The groups are adjusted for working
day differences, and then combined into division indexes
and into the index for total industrial activity. Value
added at 1970 market prices are used as weights. The
indexes are seasonally adjusted by the OECD up to
1962 and from that date, by Die Deutsche Bundesbank.

The index is calculated as a base-weighted arith­
metic average (1970=100). The components are linked
at 1970 to indexes with 1 9 6 6 = 1 0 0 , and at 1966 to
indexes with 1953=100. Considerable differences in
coverage exist among the indexes for these three
periods. Earlier indexes are based on 1948=100.
Series of product output indicator relatives are com­
bined into indexes for detailed industrial activity cate­
gories. These, in turn, are combined into indexes for
subgroups, groups, and broader classes of industrial
activity and into the general index. The index of total
industrial production is adjusted for working day dif­
ferences and for seasonal variations.
The weights used to combine the indicators into index­
es for each subgroup are based on gross value of pro­
duction, after eliminating duplications that occur in
the combining of products. The weights for combining
subgroups into major groups and the total are derived
from value added at factor cost in 1970.

SERIES 726 (France) includes mining, manufacturing
(excluding food and beverages, clothing, wood and wood
products, nonelectrical machinery, aircraft, and cer­
tain other miscellaneous manufactures), electricity,
and gas.
Data for 265 individual commodities (covering approx­
imately 63 percent of all industrial production) are
used to estimate the components. Preliminary indexes
for the most recent month are based on about 80 percent
of the component series and are revised when, more
complete data become available.
In most cases, the data collected relate to quantity
produced. However, when the quantity produced can­
not be measured directly, value of production adjusted
for price changes, consumption of raw materials or
metals, or hours worked are used.
The index is calculated as a base-weighted arith­
metic average (1970=100). The components are linked
at 1970 to indexes with 1 9 6 2 = 1 0 0 , and at 1962 to
indexes with 1959=100. Earlier indexes are based on
1938=100.
Link relatives of commodity output indicators are
combined into indexes for detailed categories of industri­
al activity and, through successive stages of combina­
tion, into indexes for branches of industrial activity,
major industrial divisions, and total industrial activity.
Weights are based primarily on value added in 1970.
The indexes are adjusted for working day differences
and for seasonal variations.

SERIES 728 (Japan) covers mining, manufacturing
(excluding printing and publishing), electricity, and gas.
Data for 459 individual commodities are used in the
computations. Production data for 417 of these are
compiled by the Ministry of International Trade and
Industry; the other data are gathered chiefly from trade
associations and other government agencies.
The index is calculated as a base-weighted arith­
metic average (1975=100). The components are linked
at 1975 to indexes with 1970=100; at January 1968 to
indexes with 1965=100; and at January 1963 to indexes
with 1960=100. Earlier indexes are available on other
bases.
Series of relatives based on quantity of individual
commodities produced are combined into indexes for
major groups; the major group indexes are combined
into division indexes; and these, into an index for total
industrial activity. The indexes are seasonally adjusted.
The weights used to combine the indicators into index­
es for each industry group are based on quantity pro­
duced in the base years multiplied by unit selling price,
f.o.b. factory. Indexes of industry groups are combined
into division and total indexes using weights based on
value added at factor cost in the base year.

SERIES 727 (Italy) covers mining, manufacturing (except
photographic equipment, magnetic tapes, and disks),
electricity, and gas. The industrial divisions represent­
ed in the index accounted for 93 percent of industrial
value added in 1970.
The component indexes are based on quantity of
output, quantity of materials used, employee hours
adjusted for productivity, or deflated value of output.

60



CONSUMER PRICES—INTERNATIONAL
Series 320. United States, Index
Series 320c. United States, Percent Change
Source: U.S. Department of Labor, Bureau of Labor
Statistics
Series 732. United Kingdom, Index
Series 732c. United Kingdom, Percent Change
Source: Department of Employment (London)
Series 733. Canada, Index
Series 733c. Canada, Percent Change
Source: Statistics Canada (Ottawa)

The Handbook of Cyclical Indicators

Series 735. West Germany, Index
Series 735c. West Germany, Percent Change
Source: Statistisches Bundesamt (Wiesbaden)
Series 736. France, Index
Series 736c. France, Percent Change
Source: Institut National de la Statistique et des Etudes
Economiques (Paris)
Series 737. Italy, Index
Series 737c. Italy, Percent Change
Source: Istituto Centrale di Statistica (Rome)
Series 738. Japan, Index
Series 738c. Japan, Percent Change
Source: Bureau of Statistics, Office of the Prime Minister (Tokyo)
(Most items contained in the indexes are not seasonal­
ly adjusted; however, prices of selected items with
pronounced seasonal patterns—such as fresh pro­
duce—are seasonally adjusted by some countries before
inclusion in the total index. Percent changes are com­
puted after the indexes have been seasonally adjusted
by the U.S. Department of Commerce, Bureau of Eco­
nomic Analysis.)
CONSUMER price indexes measure changes in the cost
of selected goods and services that are considered
representative of the consumption patterns of the
particular country. The price indexes of the compo­
nents are weighted to take account of the importance
of each item in the expenditures of the population
covered in the index. The weights usually are deter­
mined from family expenditure surveys taken in selected
years. Where surveys are not conducted, consumption
expenditures from the national income and product
accounts are used to estimate the weights. Retail pric­
es of goods and cost of services generally are collected
at regular intervals from retail and service outlets located
in areas covered by the index. The base year and method
of computation vary among countries. To facilitate com­
parison, the indexes shown in BCD have been con­
verted to a 1967 = 100 base by the U.S. Department of
Commerce, International Trade Administration.
The percent change series measure the seasonally
adjusted percent change in consumer prices over
6-month spans at an annual rate centered on the fourth
month.
In BCD, these series appear under the international
comparison category "consumer prices."

SERIES 320 and 320c (United States) are described in
the Consumer Prices section of this Handbook.

SERIES 732 (United Kingdom) is known as the General
Index of Retail Prices (January 1 9 7 4 = 1 0 0 ) . It is a
Laspeyres chain index with annual links and weights

BCD 1984



that change at the beginning of each calendar year.
The index for each month is first computed as a weighted
average of separate indexes for item groups with pric­
es in the previous January as 100. The resulting index­
es are then linked back through each preceding year to
January 1974.
The weights are based on the results of continuing
family expenditure surveys for the 12 months ending
the previous June, revalued to prices at the date of
revision. The survey originally covered 3,500 house­
holds (1957) and was expanded to about 7,000 house­
holds in 1967. The index represents prices paid by
practically all wage earners and most salary earners.
Households of pensioners living on low incomes and
those of the 3 or 4 percent with the highest reported
weekly income for the head of the household are
excluded.
The items included in the index are: Food, including
meals taken outside the home; alcoholic beverages;
tobacco; housing (measured by rent, owner-occupied
mortgage interest payments, insurance of dwelling,
repairs and maintenance, and taxes and water charg­
es); fuel and light; clothing; durable household goods;
transport and vehicles; miscellaneous goods; and
services.
The frequency, method, source, and scope of price
collection vary with the particular item. Prices for most
items are collected monthly by agents from retailers
and services outlets in 200 localities. Some price data
are collected by mail from businesses in subsamples of
the 200 localities. Prices for alcoholic beverages are
collected quarterly or more frequently when prices are
known to have changed for specific reasons (e.g., tax
change). Prices of fuel and light are obtained when
changes occur. Rent information for about 4 million
local authority dwellings is obtained half-yearly and
updated when changes occur; a sample of about 3,000
privately owned rented dwellings is divided into six
subsamples, and one subsample is visited for rent infor­
mation each month. Owner occupiers' mortgage interest
payments are based on current mortgage interest rates
and house price series updated quarterly from a 5percent sample of building society mortgages.
Series 732c measures the seasonally adjusted percent
change in series 732 over 6-month spans.

SERIES 733 (Canada) is known as the Consumer Price
Index (1971 = 100). It is computed as a weighted
arithmetic average with fixed base. From January 1961 to
April 1973, the weights correspond to 1957 family expen­
diture patterns; beginning May 1973, they correspond
to 1967 family expenditure patterns; and beginning
October 1978, to 1974 family expenditure patterns.
The 1974 weights are derived from a family expendi­
ture survey of 7,633 households conducted during that
year, but weights for the food group subitems are derived
from a 1969 food expenditure survey. The index repre­
sents families of two to six persons living in 59 cities of
over 30,000 population.

61

The items included in the index are: Food; housing
(measured by rent; home ownership, including repairs
and maintenance; fuel and light; and other household
operation); clothing; transport; health and personal
care; recreation, education, and reading; and tobacco
and alcoholic beverages. Prices for the majority of items
are collected monthly. Rent quotations are obtained
through monthly household surveys currently cover­
ing some 10,500 rented dwellings in urban areas. No
account is taken of seasonal fluctuations of items priced.
Series 733c measures the seasonally adjusted percent
change in series 733 over 6-month spans.

SERIES 735 (West Germany) is known as the Cost of
Living Index—All Private Households (1976=100). It
is computed as a weighted arithmetic average with
fixed base and weights corresponding to the base period.
The current weights and the 778 items selected for
inclusion in the index are derived from a family expen­
diture survey conducted in 1973 among private house­
holds representing all types of consumers. These house­
holds had an average of 2.6 members and a monthly
expenditure of about 2,326 Deutschmarks in 1976.
The items included in the index are: Food and tobac­
co, clothing, rent, fuel and light, household operation,
transport and communications, health and personal
care, education and entertainment, and other goods
and services. Most prices are collected near the mid­
dle of each month in 118 municipalities. Between May
and October, prices for fresh fruits and vegetables are
collected twice a month. Rent quotations cover twoor three-room flats with kitchens and are obtained
quarterly. In the computation of the index, seasonal
fluctuations are taken into account for prices of items
subject to such fluctuations.
Series 735c measures the seasonally adjusted percent
change in series 735 over 6-month spans.

SERIES 736 (France) is known as the Consumer Price
Index (1970=100). It is a Laspeyres chain index with
weights that change at the beginning of each calendar
year. The index for each month is first computed on a
base of December of the preceding year=100; the
resulting index is then converted to a 1970=100 base.
The weights are based on data from continuing fami­
ly expenditure surveys and data on household accounts
from the system of national accounts. The weights
used in the computation of the indexes for a given year
are based on the results of surveys conducted two
years earlier and updated to December of the preced­
ing year. The index represents urban households of all
sizes headed by wage and salary workers.
The items included in the index are: Food and tobac­
co; clothing and household linen; furniture, furnishings,
household goods, and cleaning materials; fuel and light;
and services (rent, water, maintenance and repairs,

62



personal and medical care, public transport and main­
tenance of vehicles, and other services).
The sample currently includes 30,000 retail outlets
and service establishments in 108 urban centers of
more than 2,000 inhabitants. Agents collect prices
monthly or quarterly for most goods and services, and
twice a month for fresh products. Rent quotations are
obtained from surveys conducted twice a year from a
sample of 3,500 dwellings in urban centers of more
than 2,000 inhabitants. Prices of pharmaceutical prod­
ucts and costs of medical care are included at their
gross value (i.e., excluding refunds from social securi­
ty). Seasonal fluctuations in the prices of fresh prod­
ucts are taken into account.
Series 736c measures the seasonally adjusted percent
change in series 736 over 6-month spans.

SERIES 737 (Italy) is known as the Consumer Price
Index (1976 = 100). It is computed as a weighted
arithmetic average with fixed base and weights cor­
responding to the base period. The national index is
the weighted arithmetic average of indexes for the four
major areas of the country (North-West, North-East,
Central, and Southern and Insular).
The current weights for items other than rent are
derived from 1975 consumption patterns and national
accounts data. Rent weights are based on results of a
housing survey taken in October 1971. Producers' own
consumption and owner-occupied housing are excluded
from the weighting scheme and pricing.
The items included in the index are: Food and tobac­
co, rent, fuel and light, clothing, furnishings and house­
hold equipment, personal and medical care, transpor­
tation and communication, education and recreation,
and miscellaneous.
Agents collect prices from approximately 20,300 retail
outlets, from 6,000 service establishments, and from
13,500 dwellings (to obtain rent data), located in the
capital towns of 93 provinces. Prices for fresh fruits
and vegetables are obtained three times a month; those
for other food and for clothing and personal services,
once a month; and those for durable goods, public
services, and rent, once a quarter. Seasonal fluctua­
tions in the prices of fresh fruits and vegetables are
accounted for by varying the monthly basket of these
items and by using moving averages of the respective
indexes for the last 13 months.
Series 737c measures the seasonally adjusted percent
change in series 737 over 6-month spans.

SERIES 738 (Japan) is known as the Consumer Price
Index ( 1 9 7 5 = 1 0 0 ) . It is computed as a weighted
arithmetic average with fixed base and weights cor­
responding to the base period.
The weights and selection of items are derived from
a family expenditure survey conducted in 1975 among

The Handbook of Cyclical Indicators

a random sample of about 8,000 urban and rural house­
holds (excluding farmers', fishermen's, and single
persons' households) in 170 localities selected to rep­
resent the entire country.
The items included in the index are: Food, housing
(rent, repairs and improvements, water charge, and
furniture and utensils), fuel and light, clothing, and
miscellaneous.
Prices for most items are collected by agents from
about 31,000 retail stores and service establishments
in 168 localities during the week containing the 12th of
each month. Prices for seasonal items (such as fresh
fruits, vegetables, and fish) are collected three times a
month. Seasonal fluctuations in the prices of these
items are accounted for by varying the monthly item
weights within constant group weights. Rent quotations
are obtained from about 22,000 households.
Series 738c measures the seasonally adjusted percent
change in series 738 over 6-month spans.

STOCK PRICES—INTERNATIONAL
Series 19.
United States
Source: Standard and Poor's Corporation
Series 742. United Kingdom
Source: Central Statistical Office (London)
Series 743. Canada
Source: Statistics Canada (Ottawa)
Series 745. West Germany
Source: Statistiches Bundesamt (Wiesbaden)
Series 746. France
Source: Institut National de la Statistique et des Etudes
Economiques (Paris)
Series 747. Italy
Source: Banca d'Italia (Rome)
Series 748. Japan
Source: Bank of Japan (Tokyo)
(Data contained in these series are not seasonally
adjusted.)
STOCK price indexes are designed to approximate the
average movement of stock prices on the individual
country's leading exchange. Each stock included in the
index must represent a viable enterprise and must be
representative of the industry group to which it is
assigned. The index estimates the change in value accru­
ing to a hypothetical investor who, in the base period,
bought shares corresponding in selection and propor­
tions to those in the index; only substituted new issues
for retired issues; and retained, in the form of shares,
the proceeds of all offered rights, warrants, and share
dividends. The base year and method of computation
vary among countries. To facilitate comparison, the
stock price indexes shown in BCD have been convert­

BCD 1984



ed to a 1967 = 100 base by the U.S. Department of
Commerce, Bureau of Economic Analysis.
In BCD, these series appear under the international
comparisons category "stock prices."

SERIES 19 (United States) is described in the Stock
Prices section in this Handbook.

SERIES 742 (United Kingdom) is an index that meas­
ures the monthly average of daily changes in the mar­
ket value of a portfolio of 500 ordinary stocks actively
traded on the London Exchange and issued by industrial
companies operating in the United Kingdom. The sam­
ple, which is reviewed regularly, originally comprised
all companies whose market capitalization in 1962
exceeded 4 million pounds; a few smaller companies
also are included. Companies operating mainly outside
the United Kingdom are excluded. In 1962, about 60
percent of all quoted industrial stocks were covered.
The monthly index has an April 1962 reference base
and is a weighted arithmetic average of daily indexes.
The daily indexes consist of a number of chain-linked
Laspeyres series derived from middle-market prices
determined at the close of each business day. These
price relatives of constituent shares are weighted by
initial market capitalization until the first change occurs.
Weights are changed and new links are computed when
capital changes, such as rights and bonus issues, occur
or when changes in the sample are effected.

SERIES 743 (Canada) is a weighted index of 65 indus­
trial stocks traded on at least one exchange. It has a
1971 reference base and is a component of the Invest­
ors Index. Prior to 1974, stocks traded on the Canadi­
an Stock Exchange (CSE) also were included; in 1974,
CSE merged with the Montreal Stock Exchange.
The monthly index is the arithmetic average of weekly
indexes. Prices are based on the daily closing quota­
tions from the exchange with the highest volume of
trading for each stock. The daily quotations are aver­
aged over the number of trading days in the week.
Prices for component stocks are combined into sub­
groups in proportion to the relative numbers of shares
outstanding as of January 1st each year. Each sub­
group and group is weighted by its average yearly volume
of shares traded over the period 1971-74. Adjustments
are made to reflect changes in portfolio composition
and stock splits.

SERIES 745 (West Germany) measures price changes
in common stocks of companies with headquarters in
West Germany. It comprises 192 companies that rep­
resent approximately 90 percent of total authorized

63

capital. Selection is based on the amount of authorized
capital, with some adjustments to include small com­
panies that influence the movements of the stock price
index.
To obtain the group indexes, price relatives of selected
stocks are combined using values of authorized capital
as of December 29, 1972 (the reference base) as weights.
Price relatives for each group are weighted by the
authorized capital of all companies in that group in the
base period. Prices are adjusted for share dividends
and rights but not for cash dividends.

SERIES 746 (France) measures monthly changes in the
price of a portfolio of variable-yield industrial stocks
admitted to the Paris Exchange. The sample of approxi­
mately 180 stocks is updated each year, with selection
based on the market value of shares capital and the
volume of transactions.
The monthly index is based on opening spot quota­
tions for the last Friday (or preceding working day) of
the month. Group indexes are computed as unweight­
ed averages of price relatives for component stocks
using prices on the last working Friday of the preceding
year as the base. Group indexes are weighted by the
market value of all stocks in the group as of the same
date as above, and then are chained to indexes with
December 29, 1972 as the reference base. Prices are
adjusted for share dividends and rights.

64



SERIES 747 (Italy) measures the monthly averages of
daily changes in the market value of a portfolio that
consists of ordinary variable-yield stocks of approxi­
mately 40 major Italian companies. It covers mainly
manufacturing companies but also includes 14 finan­
cial, insurance, and construction companies. Coverage is
approximately 60 percent of the total value of stocks
admitted to the Milan Exchange.
The monthly indexes are averages of daily indexes
based on daily spot closing quotations on the Milan
Exchange weighted by base year (1958) capitalization.
Adjustments are made for increases in share capital
and for accrued dividends (on the assumption that
dividends are unchanged from the preceding year).

SERIES 748 (Japan) measures monthly changes in the
selling prices of all 690 stocks listed on the Tokyo
Exchange. It is compiled with a reference base of April
1, 1968.
The monthly index is the simple average of daily
indexes based on selling quotations at the close of the
afternoon session (or the previous day's quotations)
weighted by the current number of shares listed. Adjust­
ments are made to the base figure when shares are
added to or deleted from the list and when new issues
are added. However, no adjustments are made for stock
dividends.

The Handbook of Cyclical Indicators

II. COMPOSITE INDEXES OF LEADING,
COINCIDENT, AND LAGGING INDICATORS:
A Brief Explanation of Their Construction
THE composite indexes of leading, coincident, and lagging cyclical indicators are
summary measures designed to signal changes in the direction of aggregate
economic activity. (Aggregate economic activity cannot be defined precisely, and
no single time series measures it adequately; however, a variety of statistical
series measure some of its major aspects.) Each index measures the average
behavior of a group of economic time series that show similar timing at business
cycle turns but represent widely differing activities or sectors of the economy.
The components of the indexes are selected with the help of a formal, detailed
scoring system that places particular emphasis on cyclical timing. 1 (The criteria
used in the system and the scores resulting from the evaluation of various cyclical
indicators are shown in table 7 on pages 169-171.) The better performing series
that tend to lead at business cycle turns are combined into one index, those that
tend to coincide into another, and those that tend to lag into a third. To ensure
broad economic coverage with a minimum of duplication, care is taken to include
in each composite index the highest scoring indicators from as many economic
process groups as have the requisite timing pattern. Because the combination of
prompt availability and reasonable accuracy is an especially important require­
ment of composite indexes, only monthly series that are available with short lags
and are not subject to large revisions are considered when selecting components
of the three major composites.
The series that are included in the three major composite indexes are shown in
table 1, where they are cross-classified by cyclical timing pattern—leading,
coincident, and lagging—and economic process group. Because their coverage is
diversified with a minimum of duplication, composite indexes tend to be more
reliable as cyclical indicators than any of their components taken singly. Fur­
thermore, much of the independent measurement error and other "noise" in the
component series are smoothed out in the indexes.
The composite index of leading indicators is supplemented by composite index­
es for subgroups of leading indicators for five economic processes. These sub­
group indexes, which are helpful in analyzing individual economic processes, are
composed of components of the leading index plus selected other leading indica­
tors. The five subgroups are marginal employment adjustments, capital invest­
ment commitments, inventory investment and purchasing, profitability, and money
and financial flows.
Near the end of each month, the composite indexes are updated by computing
the preliminary estimates for the previous month and recomputing the preceding
11 monthly values to incorporate revisions and additional data. Occasionally, the
composite indexes are revised back to 1948 to incorporate revisions in the
component series and resulting changes in statistical factors (standardization
factors, weights, and trend adjustments, which are described below). If required,
the component composition of the indexes also will be changed.




The procedures used to construct the indexes help counter certain difficulties
of combining economic time series—the tendencies of volatile series to dominate
the average and of some series to perform better than others with regard to
relevant criteria. Further, the procedures enhance the usefulness of the three
indexes as a consistent system. These aspects of the procedures—the compo­
nent standardization of amplitude, weighting, index standardization of amplitude,
and trend adjustment—are highlighted in the explanation that follows. (The
explanation refers to the subgroup leading indexes as well as the leading, coinci­
dent, and lagging indexes except that the subgroup indexes are not subject to
trend adjustment or index standardization. In this way, they are left to reflect
short-term fluctuations in economic activities that have their own characteristic
trends and amplitudes.) The explanation of these procedures is presented first in
narrative form in section A and then in algebraic form in section B.

Table 1 . Classification of Composite Index Components by Economic Process
| \ ^

Economic
^ ^

process
1. Employment and
unemployment

Index
Leading
indicators

III. Consumption, trade,
orders, and deliveries

IV. Fixed capital
investment

V. Inventories and
inventory investment

VI. Prices, costs, and
profits

VII. Money and credit

12. Index of net
business formation

36. Change in manu­
facturing and trade
inventories on hand
and on order in 1972
dollars, smoothed

99. Change in sensitive
materials prices,
smoothed

106. Money supply M2
in 1972 dollars

77. Ratio, manufac­
turing and trade
inventories to sales
in 1972 dollars

62. Index of labor
cost per unit of
output, manufac­
turing—actual
data as a percent
of trend

^ v
8. Manufacturers' new
orders in 1972 dollars,
consumer goods and
materials industries

1. Average weekly hours
of production or
nonsupervisory workers,
manufacturing
5. Average weekly
initial claims for
unemployment
insurance,
State Programs

[Coincident
Indicators

II. Production and
income

41. Employees on
nonagricultural
payrolls

**

51. Personal income
less transfer
payments in
1972 dollars

32. Vendor performance,
percent of companies
receiving slower
deliveries

20. Contracts and
orders for plant
and equipment in
1972 dollars

19. Index of stock
prices, 500
common stocks

111. Change in business
and consumer credit
outstanding

29. Index of new
private housing
units authorized
by local building
permits

57. Manufacturing and
trade sales in 1972
dollars

47. Index of
industrial
production
Lagging
indicators

9 1 . Average duration
of unemployment
in weeks

109. Average prime
rate charged
by banks
101. Commercial and
industrial loans
outstanding in
1972 dollars
95. Ratio, consumer
installment credit
outstanding to
personal income

66



The Handbook of Cyclical Indicators

Section A. Method of Construction:
A Narrative Explanation

Table 2. Standardization Factors and Weights for Composite Index Components
Series

1.

Standardization and Weighting of the
Components
a. Month-to-month percent changes are calculat­
ed for each component series. To ensure symmet­
rical treatment of positive and negative changes,
the percent changes are computed using the
formula 200(B-A)/(B+A),
where A is the value
for the first month and B is the value for the
second month.2 For series (such as first differ­
ences) that can contain zero or negative values,
and for series that already are in percentage or
ratio form, simple month-to-month differences
(B—A) are computed.
b. To prevent the more volatile component series
from dominating the index, the percent changes
(or differences) for each component are standard­
ized to make the average of their absolute values
equal to one. This standardization is accomplished
for each component by dividing the monthly chang­
es, as computed in the preceding step, by their
long-run average, without regard to sign. This
average is the component standardization factor.
c. For each month, a weighted average of the stand­
ardized changes for all available components is
computed. The weight for each component reflects
the overall performance score of that series as a
cyclical indicator. The score is determined by an
evaluation of the series' cyclical timing, conform­
ity to business cycles, smoothness, currency, sta­
tistical adequacy, economic significance, and re­
visions. (See table 7 on pages 169-171 for a listing
of the scores.) Thus, the better performing series
are assigned more weight in the composite index.3
The weights and standardization factors for the
components of the three major composite indexes
are shown in table 2; similar measures for the
components of the leading indicator subgroup
indexes are shown in table 3.

2. Standardization and Cumulation of
the Index
a. For the leading and lagging composite indexes,
the weighted averages computed in the preced­
ing step are subjected to an index standardization
procedure that makes their long-run averages,
without regard to sign, equal to the corresponding
average for the coincident index. This is done to
facilitate the use of the three indexes as a con­
sistent system. To standardize the leading index,
its average weighted changes (as computed in
step A - l c ) are divided by the ratio of their longrun average to the corresponding average for the

BCD 1984



Standardization
factor1

Weight2

0.467

1.014

5.374

1.041

2.818

.973

3.840
996
6.194

1.081
.973
.946

5.064

1.054

Leading index components
1.

Average weekly hours of production or nonsupervisory workers,

5.

manufacturing
Average weekly initial claims for unemployment insurance,
3

8.
32.
12.
20.
29.
36.
99.
19.
106.
111.

State programs
Manufacturers' new orders in 1972 dollars, consumer goods
and materials industries
"Vendor performance, percent of companies receiving
slower deliveries
Index of net business formation
Contracts and orders for plant and equipment in 1972 dollars
Index of new private housing units authorized by local
building permits
*Change in manufacturing and trade inventories on hand and
on order in 1972 dollars, smoothed4

2.530

.986

""Change in sensitive materials prices, smoothed4
Index of stock prices, 500 common stocks
Money supply M2 in 1972 dollars
""Change in business and consumer credit outstanding

324
2.633
417
2.627

.892
1.149
.932
.959

321
502
924
1.021

1.064
1.003
1.028
.905

1.098
.894

Coincident index components
41.
51.
47.
57.

Employees on nonagricultural payrolls
Personal income less transfer payments in 1972 dollars
Index of industrial production
Manufacturing and trade sales in 1972 dollars

Lagging index components
91.
77.
62.

Average duration of unemployment in weeks3
""Ratio, manufacturing and trade inventories to sales in 1972 dollars
""Index of labor cost per unit of output, manufacturing—actual
data as a percent of trend

3.587
016
557

.868

109.
101.
95.

*Average prime rate charged by banks
Commercial and industrial loans outstanding in 1972 dollars
'Ratio, consumer installment credit outstanding to personal income

\376
901
062

1.123
1.009
1.009

See table footnotes at end of this part.

coincident index. The lagging index is standardized
in the same manner. These ratios of the long-run
averages are the index standardization factors,
and they are shown in table 4.
b. The standardized average changes computed in the
previous step are cumulated into an index using
the following procedure: A value of 100 is assigned
to the index for the initial month (month A), and
the value for the following month (month B) is
computed by applying the formula
B=A(200+r)/
(200 —r), where r is the standardized average
change between months A and B. The value for
the third month (month C) is computed from the
relationship C = 6 ( 2 0 0 + r ) / ( 2 0 0 - r ) , where r is
the standardized average change between months
B and C. The index values for subsequent months
are computed in the same manner. The formula
(200+r)/(200—r) converts the symmetrical per­
cent changes (see step A - l a ) to conventional per­
cent changes. This step produces a "raw" index,
which is then trend adjusted.

3. Adjustment of the Trend
A trend adjustment procedure is used to make the
trends in the three major composite indexes equal to

67

Table 3. Standardization Factors and Weights for Leading Indicator Subgroups

Subgroup indexes and components

Standard­
ization
factor1

Table 4. Index Standardization Factors, 1948-81

Composite index

Weight2
Leading index

913. Marginal employment adjustments3

Coincident index...
1.

Average weekly hours of production or nonsupervisory workers,
manufacturing

2.
5.

Accession rate, manufacturing
Average weekly initial claims for unemployment insurance,
State programs4
*Layoff rate, manufacturing4

3.

0.457
3.885

0.997
.946

5.543
160

1.022
1.035

Index of net business formation

996

.982

20.
29.

Contracts and orders for plant and equipment in 1972 dollars
Index of new private housing units authorized by local
building permits

6.194

.955

5.064

1.064

32.
36.

Manufacturers' new orders in 1972 dollars, consumer goods
and materials industries
*Vendor performance, percent of companies receiving
slower deliveries
"'Change in manufacturing and trade inventories on hand

2.818

.990

5

3.840

1.100

99.

and on order in 1972 dollars, smoothed
""Change in sensitive materials prices, smoothed5

2.530
324

1.003
.907

Index of stock prices, 500 common stocks
Corporate profits after tax with IVA and CCAdj in 1972 dollars
Ratio, implicit price deflator to unit labor cost, nonfarm
business sector

*Change in total liquid assets, smoothed5
Money supply M2 in 1972 dollars
*Change in business and consumer credit outstanding

2.633
2.210

1.226
.909

209

.865

053
417
2.627

1.028
.972
1.000

.602

.707

(3) The trend-adjusted changes resulting from
the preceding step are cumulated, using the
method described in step A-2b, to produce
the leading, coincident, and lagging compos­
ite indexes.5

the average of the trends in the components of the
coincident index.4 This trend can be considered a lin­
ear approximation of the secular movement in aggre­
gate economic activity. Although the purpose of the
composite indexes is to indicate directional changes in
aggregate economic activity, many users also view them
as indicators of levels of activity. The trend adjustment
procedure facilitates the use of the indexes as cyclical
measures within a consistent system.

c. Finally, each index is converted to the desired
base year (currently 1967) by dividing each term
by the average value of the index in the base year
and multiplying by 100.

Table 5. Target Trend Computation

a. Establishing the target trend:
(1) Using the business cycle average method, a
log-linear trend is computed from the original
seasonally adjusted data for each of the com­
ponents of the coincident index. First, the
average monthly value for the initial cycle
(measured between specific cycle peak dates)
and the corresponding value for the terminal
cycle are determined. Then, the percent
change from the initial cycle average to the
terminal cycle average (each centered at the
middle of its cycle) is converted to a monthly
rate by the compound interest formula.




1.000

(2) The differences between the target trend and
the raw index trends computed in the preced­
ing step are the trend adjustment factors.
For each index, the trend adjustment factor
is added to the standardized average chang­
es derived in step A-2a. The raw index trends
and the trend adjustment factors are shown
in table 6.

See table footnotes at end of this part.

68

.852

(1) Trends are computed for the raw indexes of
the leading, coincident, and lagging compos­
ites using the method described in step A-3a(l).

917. Money and financial flows
104.
106.
111.

0.582

b. Trend adjusting the composite indexes:

916. Profitably
19.
80.
26.

0.496

(2) The trends derived in the preceding step for
the individual components of the coincident
index are averaged (with equal weights) to
obtain the target trend. Table 5 illustrates
the computation of the target trend.

915. Inventory investment and purchasing
8.

Index standardization
factor2

See table footnotes at end of this part.

914. Capital investment commitments
12.

Average
absolute change1

Specific cycles
Series

41.

51.

Employees on nonagricultural payrolls

Monthly trend'

(peaktopeak)

(percent)

Initial

Terminal

0.186

Sept. 48 to

Mar. 80 to

June 53

July 81

Oct. 48 to

Jan. 80 to

Personal income less transfer payments in
1972 dollars

281

June 53

Aug. 81

47.

Index of industrial production

.334

July 48 to

Mar. 79 to

July 53

July 81

57.

Manufacturing and trade sales in 1972 dollars

282

Dec. 48 to

Mar. 79 to

Mar. 53

Feb. 81

Target trend2

271

See table footnotes at end of this part.

The Handbook of Cyclical Indicators

2.

Table 6. Trend Adjustment Factors
Trend in raw index1
(percent)

Trend adjustment factor2
(percent)

0.132

+0.139

Coincident index..

.446

-.175

Lagging index

.253

+ .018

«
. . .
Composite index
Leading index

Standardization and Cumulation of
the Index
a. The average monthly changes (Rt) are standard­
ized using the formula rt=Rt/F, where

F= \(% | Rt \)l(N-l)\l\(j?

| Pt \)l{N-\)\

See table footnotes at end of this part.

Section B. Method of Construction:
An Algebraic Explanation
1.

Standardization and Weighting of the
Components
a. Let cit be the symmetrical percent change from
month t— 1 to month M o r component /. Then
c / f =200 ( d / f - d / f _ i ) / ( d / f + 4 f _ i ) , where dit is the
data for month t of component / (/= 1,2,3
k
and t= 2,3,4,. . . .n). If a component contains zero
or negative values or is expressed in percentage
or ratio form, then cit=djt—djt_v
b. The changes computed in the preceding step are
standardized using the formula s^c^/A^
where
Ar

cu

c. Weighted monthly averages of the sjt are com­
puted using the formula
W),
Wt is the weight assigned to component /'.
for a component are not available for a given
t, then the weight (W) for that component
in month t.




3. Adjustment of the Trend
a. Trends are calculated using the business cycle
average method. Let C, and CL represent the aver­
ages of the data values for the initial and terminal
specific cycles of a time series. (Cycles are meas­
ured from peak to peak.) The trend is computed
using the compound interest formula

r=(-Vo/o-i)ioo,

and N is the number of months in the standardi­
zation period. The At change only when the com­
posite index undergoes a complete revision.

BCD 1984

b. The standardized average changes (r f ) are cum­
ulated into an index using the formula lt=lt__i
(200 + r f ) / ( 2 0 0 - r f ) , where f = 2 , 3 , 4
n and
lx is assigned the value of 100. This computation
produces a " r a w " index, which is then trend
adjusted.

l(N-l)

t=2

where
If data
month
is zero

and Pt is the coincident index counterpart of Rt
as defined in step B - l c . (For the coincident index,
F = l . ) As with the component standardization fac­
tors, this index standardization factor (F) changes
only when the composite index undergoes a com­
plete revision.

where m is the number of months from the center of
the initial cycle to the center of the terminal cycle.
b. The trend adjustment factor is computed by sub­
tracting the trend in the raw index from the target
trend. To trend adjust the index, this difference is
added to the standardized average changes (rt)
obtained in step B-2a. Thus, r ' f = r f + ( G - 7 ) , where G
is the target trend and T is the trend in the raw
index. The trend-adjusted standardized average
changes (r' f ) then are cumulated as described in
step B-2b.
c. The resulting index is rebased by dividing it by its
average value in the base period and multiplying
by 100.

69

Footnotes to Composite Indexes
1
See Victor Zarnowitz and Charlotte Boschan, "Cyclical Indicators: An Evaluation and New Leading Indexes,"
Business Conditions Digest, May 1975. (Reprinted in the 1977 Handbook of Cyclical Indicators.) The
scoring system explained in this 1975 article utilized six major criteria; the current system has seven. Revisions,
an element of statistical adequacy in the former system, now is a separate criterion.
2
The conventional formula for calculating the percent change over a given time interval is 100(B—A)/A, where
A is the beginning value and B is the ending value. In the modified formula, the sum of A and B is used as the
denominator to keep positive and negative percent changes symmetrical. For example, consider a series with
consecutive values of 4, 8, 4, 8, 4, 8, and 4. Although there is no upward trend in this series, the conventional
percent change formula yields an average change of + 2 5 percent, since there are an equal number of 100
percent increases and 50 percent decreases. The modified formula yields an average change of zero, since there
are an equal number of increases and decreases of 67 percent. (Adapted from Signals of Recession and
Recovery, by Julius Shiskin, National Bureau of Economic Research, 1961.)
3
Because there is little variation among the weights, one analyst, Alan J. Auerbach, considers the weighting
scheme unnecessary. Professor Auerbach found his leading composite index, computed with equal weights, to
be virtually indistinguishable from the official (weighted) leading index for the period covered in his study. (Alan
J. Auerbach, "The Index of Leading Indicators: 'Measurement Without Theory,* Thirty-Five Years Later," The
Review of Economics and Statistics, Vol. LXIV, No. 4, November 1982, pp. 589-595.)
Because weights based on the performance scores reflect the qualifications of the series as cyclical indicators,
the relative uniformity of the weights indicates that the components are about equal in their qualifications.
However, the fact that the components' qualifications have been tested with the scoring system has an
important bearing on the confidence placed in the indexes.
4
This trend adjustment procedure is derived from the "reverse trend adjustment" technique developed by
Julius Shiskin and applied to the leading index prior to November 1976. (Julius Shiskin, "Reverse Trend
Adjustment of Leading Indicators," The Review of Economics and Statistics, Vol. XLIX, No. 1, February 1967, pp.
45-49.) The earlier technique removed the original trend from the leading index and replaced it with the trend of
the coincident index. The trends of the coincident and lagging indexes were not altered.
5
Because of the sequence used in the adjustment procedures, the trends of the three indexes are equal, but
the average monthly changes, without regard to sign, are only approximately equal. If the index standardization
described in step A-2 had been applied after—rather than before—the trend adjustment, the average monthly
changes in the three indexes would be equal, but the trends would be only approximately equal. Since the trend
adjustment can affect the cyclical timing of the indexes and the index standardization cannot, precise equaliza­
tion of the trends is considered more important than precise equalization of the average monthly changes.

Footnotes to Composite Indexes Tables
Tables 2 and 3:
* First differences rather than symmetrical percent changes are computed for this series.
Table 2:
1
Standardization factors are computed over the period 1948-81.
2
The weight for a given series is the ratio of its performance score to the average score of all series in that
index.
3
Changes for this series are inverted; i.e., they are multiplied by — 1 .
4
This series is a 4-term moving average (weighted 1,2,2,1) placed on the terminal month of the span.
5
This standardization factor is computed over the period 1966-81.
Table 3:
1
See footnote 1, table 2.
2
See footnote 2, table 2.
3
The factors and weights for this index have not been updated since the 1979 revision. They are based on the
period 1948-78.
4
See footnote 3, table 2.
5
See footnote 4, table 2.
Table 4:
1
The average absolute change for each index is obtained as follows: (a) For each month, a weighted average of
the standardized changes of all components in that index is computed; (b) a long-term (1948-81) average
without regard to sign is calculated from these monthly averages.
2
This measure is the ratio of the average absolute change in each index to the average absolute change in the
coincident index.
Table 5:
1
The percent change from the average monthly value in the initial specific cycle to the average monthly value
in the terminal specific cycle, with each average centered at the middle of its cycle, is converted to a monthly
rate by the compound interest formula.
2
The target trend is the simple average of the monthly trends in the four components.
Table 6:
1
See the text for the method used to compute the trends.
2
The trend adjustment factor is the target trend (0.271) minus the trend in the raw index.




The Handbook of Cyclical Indicators

III. HISTORICAL DATA, 1947-82
THIS part provides historical data for the series shown in the monthly BCD. Monthly
series are shown first, in numerical order by their series identification numbers, followed
by quarterly series, also in numerical order.
The data shown here are those available at the time the July 1983 BCD was published.
The current data needed to update these series can be found in monthly issues of BCD.
Subsequent revisions of historical data will be shown in the BCD appendixes. (The alpha­
betical index at the back of each BCD indicates, for each series, not only the page on
which current data are shown, but also the issue of BCD in which historical data are shown.)
The series shown here are seasonally adjusted except for those, indicated by ©, that
appear to contain no seasonal movement. Annual figures provided by the source agency
are shown, if available. Such figures often are derived from data with more digits or from
data that are not seasonally adjusted; thus, they may differ slightly from annual figures
computed from the monthly or quarterly data shown.




Year

Monthly
Jan.

Feb.

Mar.

Apr.

May

June

Quarterly

July

Aug.

Sept.

i of production or nonsupenrisory workers, manufacturing
JHour?!
40.5
40.4
40.2
39.8
40.2
40.2
40.1
40.0
38.9
38.9
39.1
39.0
40.2
40.5
41.1
40.8
40.9
40.7
40.2
40.5
40.4
40.5
40.5
40.1
40.9
40.4
40.7
40.6
39.7
39.5
39.6
39.6

1947
1948
1949
1950
1951
1952
1953
1954

40.5
40.4
39.4
39.6
40.8
40.7
41.0
39.5

40.5
40.2
39.4
39.7
40.8
40.7
41.0
39.7

40.4
40.4
39.1
39.7
41.0
40.6
41.1
39.5

40.5
40.4
38.8
40.1
41.2
40.1
41.1
39.4

1955
1956
1957
1958
1959
1960
1961
1962
1963
1964

40.3
40.8
40.3
38.8
40.1
40.5
39.2
40.0
40.4
40.1

40.5
40.6
40.4
38.6
40.2
40.1
39.3
40.3
40.3
40.6

40.7
40.4
40.2
38.7
40.4
39.9
39.4
40.5
40.4
40.6

40.6
40.6
40.1
38.6
40.5
39.7
39.6
40.7
40.2
40.8

40.9
40.2
39.8
38.8
40.6
40.0
39.6
40.5
40.5
40.7

40.6
40.1
39.9
39.0
40.5
39.8
39.9
40.4
40.6
40.7

40.6
40.2
39.9
39.2
40.2
39.8
40.0
40.4
40.5
40.8

1965
1966
1967
1968
1969
1970
1971
1972
1973
1974

41.2
41.4
41.0
40.3
40.7
40.4
39.9
40.2
40.4
40.5

41.2
41.6
40.4
40.9
40.4
40.2
39.7
40.4
40.9
40.4

41.4
41.5
40.4
40.7
40.8
40.1
39.8
40.4
40.8
40.4

41.0
41.5
40.5
40.0
40.7
39.9
39.7
40.7
40.9
39.3

41.2
41.4
40.4
40.9
40.7
39.8
39.9
40.5
40.7
40.3

41.1
41.4
40.4
40.9
40.7
39.9
40.0
40.6
40.6
40.2

1975
1976
1977
1978
1979
1980
1981
1982

39.2
40.5
39.7
39.6
40.6
40.2
40.3
37.5

38.9
40.3
40.3
39.9
40.6
40.1
39.8
39.5

38.8
40.2
40.2
40.5
40.6
39.8
39.9
39.0

39.2
39.6
40.4
40.8
39.2
39.7
40.0
39.0

39.0
40.3
40.4
40.4
40.2
39.4
40.2
39.1

39.2
40.2
40.5
40.5
40.2
39.2
40.0
39.1

Oct.

Dec.

JiL

IIP

IMP

IV Q

Annual

Average for ported
40.3
39.6
39.4
40.8
40.4
41.0
39.8
39.5

40.3
39.7
39.4
40.9
40.2
41.1
40.0
39.6

40.4
39.7
39.0
40.9
40.3
41.0
39.8
40.1

40.7
39.5
39.3
40.8
40.6
41.1
39.6
40.0

40.5
40.3
39.3
39.7
40.9
40.7
41.0
39.6

40.5
40.3
38.9
40.3
40.9
40.3
40.9
39.5

40.1
39.9
39.2
40.9
40.4
40.5
40.3
39.6

40.5
39.6
39.2
40.9
40.4
41.1
39.8
39.9

40.4
40.0
39.1
40.5
40.6
40.7
40.5
39.6

40.6
40.2
39.8
39.4
40.3
39.7
40.1
40.3
40.4
40.9

40.7
40.4
39.7
39.6
40.1
39.4
39.5
40.5
40.6
40.5

40.9
40.5
39.3
39.5
40.1
39.6
40.2
40.2
40.6
40.6

41.0
40.4
39.2
39.8
39.8
39.2
40.5
40.3
40.5
40.8

40.8
40.5
39.0
39.8
40.2
38.4
40.3
40.2
40.6
41.1

40.5
40.6
40.3
38.7
40.2
40.2
39.3
40.3
40.4
40.4

40.7
40.3
39.9
38.8
40.5
39.8
39.7
40.5
40.4
40.7

40.6
40.3
39.8
39.4
40.2
39.6
39.9
40.4
40.5
40.7

40.9
40.5
39.2
39.7
40.0
39.1
40.3
40.2
40.6
40.8

40.7
40.4
39.8
39.2
40.3
39.7
39.8
40.4
40.5
40.7

41.1
41.2
40.5
40.8
40.6
40.0
39.9
40.5
40.7
40.2

41.0
41.4
40.6
40.7
40.6
39.8
39.8
40.6
40.5
40.2

40.8
41.3
40.7
40.9
40.7
39.3
39.4
40.6
40.7
40.0

41.2
41.3
40.6
40.9
40.6
39.5
39.9
40.7
40.6
40.0

41.3
41.2
40.6
40.8
40.4
39.5
40.0
40.8
40.7
39.5

41.4
40.9
40.7
40.7
40.5
39.5
40.2
40.5
40.6
39.3

41.3
41.5
40.6
40.6
40.6
40.2
39.8
40.3
40.7
40.4

41.1
41.4
40.4
40.6
40.7
39.9
39.9
40.6
40.7
39.9

41.0
41.3
40.6
40.8
40.6
39.7
39.7
40.6
40.6
40.1

41.3
41.1
40.6
40.8
40.5
39.5
40.0
40.7
40.6
39.6

41.2
41.4
40.6
40.7
40.6
39.8
39.9
40.5
40.7
40.0

39.4
40.3
40.3
40.6
40.2
39.1
39.9
39.1

39.7
40.1
40.4
40.5
40.1
39.4
39.9
39.0

39.9
39.8
40.4
40.6
40.2
39.7
39.5
38.8

39.8
40.0
40.5
40.5
40.2
39.7
39.6
38.9

39.9
40.1
40.4
40.6
40.1
39.9
39.4
39.0

40.2
40.0
40.4
40.6
40.1
40.1
39.2
39.0

39.0
40.3
40.1
40.0
40.6
40.0
40.0
38.7

39.1
40.0
40.4
40.6
39.9
39.4
40.1
39.1

39.7
40.1
40.4
40.6
40.2
39.4
39.8
39.0

40.0
40.0
40.4
40.6
40.1
39.9
39.4
39.0

39.5
40.1
40.3
40.4
40.2
39.7
39.8
38.9

5. Average weekly initial claims for unemployment insurance, State programs
[Thousands]

Average for period

1947
1948
1949
1950
1951
1952
1953
1954

UT
166
285
294
174
221
175
303

174
206
305
288
181
201
177
318

185
201
333
276
166
209
188
320

207
210
379
263
199
219
179
313

235
239
377
250
199
213
198
313

219
219
359
252
209
242
195
314

229
194
340
223
236
315
207
294

193
202
385
170
254
207
229
319

179
218
320
182
242
168
238
322

163
203
386
194
234
175
251
315

172
211
344
200
210
169
298
276

172
234
298
197
213
190
280
253

160
191
308
286
174
210
180
314

220
223
372
255
202
225
191
313

200
205
348
192
244
230
225
312

169
216
343
197
219
178
276
281

187
209
343
232
210
211
218
305

1955
1956
1957
1958
1959
1960
1961
1962
1963
1964

256
218
242
354
292
281
393
301
310
283

240
226
225
407
284
271
429
295
301
270

228
221
219
436
258
303
379
287

228
223
239
438
244
294
381
283
293
265

222
236
244
400
246
316
358
301
288
262

222
227
246
410
258
322
334
304
284
257

223
245
267
350
264
335
348
303
282
260

233
224
235
363
291
363
316
305
290
244

204
236
305
338
271
351
329
300
285
245

224
214
302
314
311
373
304
304
282
249

215
223
320
311
351
385
305
299
276
262

214
230
355
320
275
381
296
310
301
251

241
222
229
399
278
285
400
294
300
277

224
229
243
416
249
311
358
296
288
261

220
235
269
350
275
350
331
303
286
250

218
222
326
315
312
380
302
304
286
254

226
227
267
370
279
331
348
299
290
260

1965
1966
1967
1968
1969
1970
1971
1972
1973
1974

243
222
196
206
179
240
292
264
226
294

248
219
231
196
186
256
286
262
223
315

237
182
256
194
185
262
294
258
227
302

237
179
259
193
181
326
281
260
238
289

224
192
236
195
182
302
290
262
234
294

224
194
231
194
197
291
289
286
233
314

231
199
231
192
195
273
285
272
232
294

248
195
212
199
196
287
325
246
247
350

218
197
217
194
195
319
307
245
241
374

209
203
220
188
202
329
294
250
244
419

212
208
209
190
211
322
283
241
251
473

206
219
204
190
210
299
265
236
284
494

243
208
228
199
183
253
291
261
225
304

228
188
242
194
187
306
287
269
235
299

232
197
220
195
195
293
306
254
240
339

209
210
211
189
208
317
281
242
260
462

228
201
225
194
193
292
291
257
240
351

1975
1976
1977
1978
1979
1980 . . .
1981
1982

522
360
394
343
353
416
424
563

532
340
427
381
352
397
410
514

536
358
346
335
346
438
413
566

447
410
363
321
378
488
483
653

420
409
357
326
400
447
517
651

393
390
347
340
420
422
539
616

364
361
342
347
428
420
551
531

530
353
389
353
350
417
416
548

503
386
369
326
370
576
400
567

446
397
367
336
379
498
433
597

392
387
349
338
416
430
536
599

468
381
368
338
379
480
446
578

521
442
449
491
496
393
389
394
371
392
370
368
358
378
371
347
339
331
324
322
377
383
341
358
411
581
510
495
616
532
395
421
401
405
395
551
533
605
585
566
6. Manufacturers' new orders in current dcJars, durable goods industries
[BMons of dolars]

Total for period

1947
1948
1949
1950
1951
1952
1953
1954

5~66~
7.46
7.14
7.56
15.46
11.06
14.45
9.99

5.98
7.50
7.08
7.62
14.08
11.06
14.21
10.31

5.90
7.82
6.67
7.86
14.64
12.81
13.34
9.72

5.89
8.00
6.16
8.35
13.84
12.94
13.69
10.17

6.21
8.06
6.02
9.23
13.25
10.86
13.58
9.75

5.92
8.85
5.75
9.39
12.88
13.00
13.20
10.29

5.95
8.85
5.93
11.52
12.61
12.04
12.35
10.50

6.19
8.92
6.85
14.21
11.41
11.76
10.89
10.45

6.83
8.38
6.92
11.79
10.75
12.66
9.71
11.69

6.99
8.34
6.77
12.00
11.98
11.85
9.99
12.64

7.36
7.95
7.12
10.95
11.55
11.95
9.94
11.14

7.72
7.72
7.00
11.88
11.18
12.89
9.96
12.60

17.54
22.78
20.89
23.04
44.18
34.93
42.00
30.02

18.02
24.91
17.93
26.97
39.97
36.80
40.47
30.21

18.97
26.15
19.70
37.52
34.77
36.46
32.95
32.64

22.07
24.01
20.89
34.83
34.71
36.69
29.89
36.38

76.60
97.85
79.41
122.36
153.63
144.88
145.31
129.25

1955
1956
1957
1958
1959
1960
1961
1962
1963
1964

13.48
15.72
15.16
12.94
15.68
15.54
14.09
17.46
18.19
20.40

13.92
14.61
15.64
12.47
16.97
15.97
14.68
17.81
18.82
20.03

14.96
15.04
15.14
12.50
16.65
15.21
14.49
17.05
19.01
19.75

14.24
15.69
14.11
11.80
16.84
15.02
15.25
16.67
18.66
20.46

14.51
15.16
14.58
12.20
16.02
15.22
15.46
16.89
18.99
20.59

14.84
15.06
14.23
13.30
16.86
15.52
15.80
16.76
18.20
20.63

14.98
14.75
13.43
13.17
15.79
15.28
15.72
17.03
18.86
21.62

15.04
17.73
14.03
13.57
14.93
15.83
16.51
17.03
18.67
20.21

15.74
14.78
13.64
13.63
16.04
15.95
16.30
17.82
18.93
21.15

15.74
14.84
12.96
14.13
15.77
14.54
16.32
17.82
18.98
20.43

15.74
15.78
13.58
15.34
14.73
14.72
17.01
17.70
18.90
20.84

16.42
15.73
12.54
14.59
15.96
14.89
17.59
18.62
18.66
22.04

42.36
45.37
45.94
37.91
49.30
46.72
43.26
52.32
56.02
60.18

43.59
45.91
42.92
37.30
49.72
45.76
46.51
50.32
55.85
61.68

45.76
47.26
41.10
40.37
46.76
47.06
48.53
51.88
56.46
62.98

47.90
46.35
39.08
44.06
46.46
44.15
50.92
54.14
56.54
63.31

179.61
184.89
169.04
159.64
192.24
183.69
189.22
208.66
224.87
248.15

1965
1966
1967
1968
1969
1970
1971
1972
1973
1974

22.12
25.51
24.70
27.41
29.26
27.92
29.85
32.32
40.52
45.56

22.44
25.80
24.87
27.30
29.99
27.69
30.10
33.06
41.42
45.48

22.76
26.83
24.38
28.90
30.08
27.43
29.79
33.21
42.85
45.18

22.99
26.29
24.72
27.57
31.52
26.86
29.12
33.66
42.53
45.86

22.44
26.00
25.96
27.31
29.80
27.80
28.75
34.42
42.99
49.02

22.76
26.76
26.74
27.41
29.14
28.02
29.29
34.29
42.72
48.66

23.37
26.28
25.65
27.11
29.60
27.68
29.61
34.21
42.50
49.71

23.21
25.86
26.27
27.44
29.39
26.90
29.56
34.92
42.53
51.17

23.74
27.25
25.63
28.64
30.67
27.83
30.66
36.91
42.95
48.93

23.85
25.99
25.74
30.04
30.13
25.43
30.00
36.67
44.41
45.78

24.54
25.64
26.39
29.03
29.71
26.12
31.25
37.87
46.10
45.47

25.15
25.54
28.61
29.14
29.55
29.04
31.92
39.30
43.51
41.21

67.32
78.14
73.95
83.61
89.33
83.04
89.74
98.59
124.79
136.22

68.19
79.05
77.42
82.29
90.46
82.68
87.16
102.37
128.24
143.54

70.32
79.39
77.55
83.19
89.66
82.41
89.83
106.04
127.98
149.81

73.54
77.17
80.74
88.21
89.39
80.59
93.17
113.84
134.02
132.46

279.37
313.75
309.66
337.30
358.84
328.72
359.90
420.84
515.03
562.03

1975
1976
1977
1978
1979
1980
1981
1982

41.06
45.55
56.82
63.68
79.47
83.62
83.17
76.70

40.37
47.72
56.55
66.56
82.23
83.44
83.54
77.36

38.24
49.72
58.59
68.47
83.96
78.80
83.77
78.18

40.64
50.43
59.36
70.94
78.21
75.16
87.38
76.74

40.64
51.08
59.74
71.80
80.86
69.93
88.31
76.35

40.52
51.44
61.68
71.94
80.20
71.94
88.20
76.16

43.88
53.46
60.82
70.34
77.82
77.63
86.94
75.56

43.32
51.77
61.53
74.50
76.98
76.35
85.84
72.96

43.94
52.17
62.69
74.85
78.80
82.03
83.38
72.35

43.33
52.34
64.89
78.79
78.69
83.96
78.47
70.74

44.35
54.27
64.09
79.36
78.22
83.41
79.03
71.07

44.27
56.82
67.37
77.93
78.46
85.18
76.11
76.18

119.67
142.99
171.96
198.71
245.66
245.86
250.48
232.24

121.80
152.95
180.78
214.68
239.27
217.03
263.89
229.25

131.14
157.40
185.04
219.69
233.60
236.01
256.16
220.87

131.95
163.43
196.35
236.08
235.37
252.55
233.61
217.99

504.56
616.77
734.13
869.16
953.90
951.45
1,004.14
900.35

72



Year

Quarterly

Monthly
Jan.

Feb.

Mar.

Apr.

May

June

July

Aug.

Sept.

Oct.

Nov.

Dec.

_LS

7. Manufacturers' new orders in 1972 (Mars, durable goods industries
[BJkws of dofars]

Total for period
44.29
37.05
41.68
70.39
55.29
65.86
46.05

38.29
47.34
35.69
64.68
55.18
57.33
50.34
49.74

43.79
42.67
38.08
57.61
55.10
57.90
45.85
55.28

181.44
142.91
211.93
243.78
228.59
224.66
197.21

23.49
21.26
16.54
18.97
20.46
19.29
22.79
24.15
24.02
28.11

63.92
64.12
61.72
50.01
63.92
59.87
55.95
67.78
72.76
77.39

65.10
63.85
57.42
49.21
63.97
58.68
60.12
65.10
72.52
79.00

66.83
65.15
54.64
53.10
60.00
60.77
62.73
67.11
72.88
80.54

68.65
62.74
51.69
57.50
59.61
57.14
65.94
70.20
72.83
80.75

264.50
255.86
225.47
209.82
247.50
236.46
244.74
270.19
290.99
317.68

30.87
31.38
31.56
33.52
32.86
27.76
31.92
37.53
42.76
34.39

31.64
31.22
34.14
33.49
32.55
30.86
32.41
38.79
39.88
31.01

85.57
97.97
90.41
99.10
101.66
91.07
94.69
99.45
121.84
121.47

86.40
98.00
94.37
96.79
102.30
89.70
90.86
102.72
122.22
120.22

88.68
97.77
93.71
97.02
100.71
88.71
92.07
105.60
121.30
117.68

92.55
94.53
96.63
101.74
98.93
85.67
94.97
112.77
124.34
100.34

353.20
388.27
375.12
394.65
403.60
355.15
372.59
420.54
489.70
459.71

31.24
35.34
40.81
45.46
40.81
39.51
34.65
30.42

31.77
36.47
40.11
45.32
40.34
39.12
34.66
30.45

31.48
37.88
41.90
44.26
40.20
39.56
33.34
32.57

88.80
100.92
113.80
121.87
136.77
121.95
115.47
101.48

89.67
106.60
117.74
128.42
129.62
106.34
119.25
99.52

95.86
107.79
117.98
128.36
123.89
112.92
113.92
95.26

94.49
109.69
122.82
135.04
121.35
118.19
102.65
93.44

368.82
425.00
472.34
513.69
511.63
459.40
451.29
389.70

15.10
11.84
14.16
23.23
20.24
20.84
14.91

12.75
15.27
10.79
16.43
20.94
17.13
21.03
14.91

12.08
16.60
10.34
16.54
20.31
20.50
20.25
15.69

12.11
16.33
10.68
20.11
19.92
18.96
18.82
15.99

12.49
16.02
12.41
24.51
18.14
18.46
16.63
15.93

13.69
14.99
12.60
20.06
17.12
19.91
14.89
17.82

13.95
14.87
12.36
20.14
19.02
18.70
15.32
19.27

14.58
14.11
12.98
18.19
18.33
18.87
15.25
16.91

15.26
13.69
12.74
19.28
17.75
20.33
15.28
19.10

21.00
20.66
20.99
16.45
22.02
20.48
18.98
23.08
24.44
25.74

22.53
21.13
20.30
16.51
21.54
19.47
18.74
22.06
24.69
25.35

21.35
21.89
18.91
15.58
21.73
19.23
19.73
21.57
24.26
26.23

21.66
21.08
19.49
16.10
20.62
19.53
19.97
21.85
24.66
26.36

22.09
20.88
19.02
17.53
21.62
19.92
20.42
21.68
23.60
26.41

22.06
20.54
17.89
17.38
20.27
19.66
20.34
22.03
24.37
27.68

21.96
24.42
18.64
17.83
19.17
20.42
21.34
22.03
24.09
25.84

22.81
20.19
18.11
17.89
20.56
20.69
21.05
23.05
24.42
27.02

22.62
20.13
17.19
18.50
20.24
18.79
21.11
23.09
24.46
26.06

22.54
21.35
17.96
20.03
18.91
19.06
22.04
22.96
24.35
26.58

28.14
32.05
30.20
32.60
33.48
30.65
31.62
32.75
39.96
41.12

28.52
32.34
30.41
32.34
34.12
30.40
31.78
33.29
40.52
40.68

28.91
33.58
29.80
34.16
34.06
30.02
31.29
33.41
41.36
39.67

29.17
32.74
30.22
32.48
35.70
29.29
30.46
33.80
40.74
39.44

28.45
32.18
31.66
32.13
33.68
30.15
29.95
34.56
40.87
40.96

28.78
33.08
32.49
32.18
32.92
30.26
30.45
34.36
40.61
39.82

29.51
32.44
31.10
31.70
33.37
29.86
30.53
34.14
40.43
39.77

29.27
31.81
31.73
32.02
33.03
28.95
30.19
34.81
40.32
40.07

29.90
33.52
30.88
33.30
34.31
29.90
31.35
36.65
40.55
37.84

30.04
31.93
30.93
34.73
33.52
27.05
30.64
36.45
41.70
34.94

30.64
32.31
37.78
39.36
44.67
41.81
38.52
33.54

29.90
33.70
37.48
40.81
45.76
41.24
38.54
33.82

28.26
34.91
38.54
41.70
46.34
38.90
38.41
34.12

29.97
35.31
38.85
42.81
42.67
37.01
39.72
33.44

29.93
35.64
38.89
42.97
43.81
34.34
39.92
33.15

29.77
35.65
40.00
42.64
43.14
34.99
39.61
32.93

32.19
36.84
39.06
41.45
41.55
37.38
38.83
32.63

31.69
35.51
39.29
43.49
40.95
36.52
38.15
31.49

31.98
35.44
39.63
43.42
41.39
39.02
36.94
31.14

14.60
12.66
13.72
24.73
17.55
22.71
15.33

14.59
12.55
13.80
22.43
17.50
22.31
15.81

1955
1956
1957
1958
1959
1960
1961
1962
1963
1964

20.39
22.33
20.43
17.05
20.36
19.92
18.23
22.64
23.63
26.30

1965
1966
1967
1968
1969
1970
1971
1972
1973
1974
1975
1976
1977
1978
1979
1980
1981
1982

Annual

37.03
47.14
32.09
47.96
63.11
58.07
62.61
46.14

12.20
15.27
10.96
14.99
21.86
20.44
21.33
15.54

1947
1948
1949
1950
1951
1952
1953
1954

JVJL

!UL

8. Manufacturers' new orders in 1972 (Mars, consumer foods and materials industries
[K s of dolars]

1947

T77

1948
1949
1950
1951
1952
1953
1954

12.33
11.01
12.34
20.27
14.43
18.53
13.67

12.22
10.66
12.39
18.13
14.52
17.75
14.39

12.87
10.44
12.31
18.62
16.22
18.00
14.44

12.52
9.98
12.88
16.95
16.74
18.62
14.50

12.90
10.03
14.37
16.28
14.74
18.13
14.50

13.88
9.57
14.49
15.76
17.12
17.80
15.24

13.65
10.24
18.05
15.67
16.09
17.62
14.57

13.46
11.86
20.21
14.31
15.71
15.39
15.00

12.71
11.96
15.96
13.73
16.58
13.77
15.78

12.30
11.17
16.11
15.21
15.72
13.32
15.97

11.91
11.66
14.68
14.66
15.78
13.56
16.92

11.40
11.45
15.55
14.19
17.05
13.68
18.14

37.42
32.11
37.04
57.02
45.17
54.28
42.50

39.30
29.58
41.74
48.99
48.60
54.55
44.24

39.82
34.06
54.22
43.71
48.38
46.78
45.35

35.61
34.28
46.34
44.06
48.55
40.56
51.03

152.15
130.03
179.34
193.78
190.70
196.17
183.12

1955
1956
1957
1958
1959
1960
1961
1962
1963
1964

19.03
18.88
17.78
15.68
18.94
18.61
16.74
20.61
20.72
22.88

18.88
18.33
18.52
14.91
20.79
18.68
16.80
20.46
21.60
22.62

20.21
18.21
18.14
14.69
20.17
17.61
17.82
20.08
21.73
22.44

19.67
18.48
17.56
14.60
19.70
17.52
18.23
18.98
21.99
23.27

19.52
17.90
17.48
15.06
19.09
17.62
18.75
19.76
21.54
22.97

19.91
17.48
17.63
15.96
19.24
17.91
19.28
19.36
20.99
23.06

20.28
17.59
16.93
16.42
18.91
18.06
18.62
20.01
21.80
23.94

19.67
17.84
17.13
16.79
17.84
18.03
19.40
20.22
21.13
23.20

19.35
17.38
17.19
17.26
18.60
18.30
19.22
20.42
21.28
24.40

19.13
17.95
16.46
17.21
17.97
17.66
19.29
20.58
22.09
23.03

19.85
18.02
15.81
18.11
17.44
17.44
20.32
20.55
22.06
23.74

19.46
18.19
14.91
18.05
18.79
17.37
20.97
20.12
22.07
24.84

58.12
55.42
54.44
45.28
59.90
54.90
51.36
61.15
64.05
67.94

59.10
53.86
52.67
45.62
58.03
53.05
56.26
58.10
64.52
69.30

59.30
52.81
51.25
50.47
55.35
54.39
57.24
60.65
64.21
71.54

58.44
54.16
47.18
53.37
54.20
52.47
60.58
61.25
66.22
71.61

234.96
216.25
205.54
194.74
227.48
214.81
225.44
241.15
259.00
280.39

1965
1966
1967
1968
1969
1970
1971
1972
1973
1974

25.21
27.07
26.50
28.59
30.20
28.18
29.16
30.62
36.56
35.34

25.44
27.56
26.27
28.55
30.06
27.60
28.87
31.13
36.90
34.83

25.50
28.60
26.02
28.53
30.02
27.46
28.06
30.97
37.21
34.27

25.07
27.61
26.22
28.04
29.87
27.35
28.26
31.05
36.00
34.20

25.19
27.41
26.45
28.64
29.55
27.60
27.96
31.26
36.34
35.30

25.39
27.59
26.75
28.72
29.73
28.20
27.72
31.89
36.09
34.98

26.01
27.08
26.76
28.22
30.36
27.30
28.52
31.62
35.89
33.94

25.48
27.18
27.96
27.53
29.66
27.02
28.21
32.76
35.75
33.30

25.21
27.09
26.81
29.38
30.18
27.40
28.32
33.32
35.69
32.11

25.66
27.36
26.40
29.97
30.28
25.51
28.70
33.70
36.24
31.15

26.70
26.83
27.54
30.46
29.30
25.52
29.55
34.55
36.83
30.06

27.38
26.55
29.46
29.73
29.02
27.99
29.82
35.06
34.71
26.86

76.15
83.23
78.79
85.67
90.28
83.24
86.09
92.72
110.67
104.44

75.65
82.61
79.42
85.40
89.15
83.15
83.94
94.20
108.43
104.48

76.70
81.35
81.53
85.13
90.20
81.72
85.05
97.70
107.33
99.35

79.74
80.74
83.40
90.16
88.60
79.02
88.07
103.31
107.78
88.07

308.24
327.93
323.14
346.36
358.23
327.13
343.15
387.93
434.21
396.34

1975
1976
1977
1978
1979
1980
1981
1982

26.88
30.97
35.04
36.14
40.05
36.70
33.31
29.18

26.75
31.66
35.04
36.97
39.06
36.38
34.50
29.45

25.84
32.35
36.30
37.35
39.47
33.90
34.15
30.55

27.17
32.38
35.82
39.12
38.06
31.32
34.92
29.30

27.48
32.84
35.80
38.64
38.92
30.28
35.29
30.77

27.94
33.04
36.35
38.19
38.06
30.05
35.16
30.29

29.60
33.29
36.07
37.47
37.00
31.30
34.45
30.29

29.58
32.71
36.25
38.80
36.30
32.11
33.44
29.60

29.94
32.37
36.41
38.07
36.63
33.81
32.48
29.62

30.16
31.75
36.07
38.88
36.24
34.88
31.00
27.91

30.01
33.47
36.72
39.18
35.57
34.54
30.22
28.22

30.18
34.41
37.45
39.82
35.17
34.26
30.50
28.25

79.47
94.98
106.38
110.46
118.58
106.98
101.96
89.18

82.59
98.26
107.97
115.95
115.04
91.65
105.37
90.36

89.12
98.37
108.73
114.34
109.93
97.22
100.37
89.51

90.35
99.63
110.24
117.88
106.98
103.68
91.72
84.38

341.53
391.24
433.32
458.63
450.53
399.53
399.42
353.43

9. Construction contracts awarded for commercial and industrial buMmfs, floor space1
[ M f c n square feet]

Total for period

1947
1948
1949
1950
1951
1952
1953
1954

3140
26.98
19.28
19.02
46.02
16.98
25.12
26.74

27.15
27.60
17.22
16.82
35.86
17.91
27.69
21.53

24.07
22.98
19.01
22.48
29.82
19.94
24.76
24.73

25.68
24.34
18.63
26.24
27.36
20.72
25.66
27.39

24.52
29.47
16.36
27.83
23.71
18.68
29.70
31.40

26.95
24.25
16.78
26.92
23.99
23.33
19.62
27.99

29.08
31.70
16.02
28.61
23.49
21.10
37.96
26.09

38.45
26.52
13.74
35.59
21.82
23.32
25.09
27.56

24.44
21.75
18.99
31.60
24.53
22.12
26.17
26.31

27.53
22.46
16.94
31.04
19.21
23.34
31.75
31.06

28.30
21.71
16.86
31.85
18.12
27.61
33.05
28.33

33.66
18.41
19.19
29.62
29.57
38.85
20.10
32.21

81.62
77.56
55.51
58.32
111.70
54.83
77.57
73.00

77.15
78.06
51.77
80.99
75.06
62.73
74.98
86.78

91.97
79.97
48.75
95.80
69.84
66.54
89.22
79.96

89.49
62.58
52.99
92.51
66.90
89.80
84.90
91.60

340.23
298.17
209.02
327.62
323.50
273.90
326.67
331.34

1955
1956
1957
1958
1959
1960
1961
1962...:
1963
1964

33.22
34.76
40.17
30.39
32.56
37.27
37.16
39.52
43.38
49.78

35.03
36.05
40.05
29.34
32.03
36.73
35.61
42.13
43.49
47.91

32.68
44.30
37.68
30.25
35.63
35.01
35.99
45.32
38.55
50.14

31.86
44.26
34.31
26.12
41.02
39.59
35.42
41.90
39.67
47.48

32.91
33.59
34.85
28.73
37.36
39.72
35.60
43.66
45.62
46.38

32.84
36.47
41.68
27.62
38.43
38.50
35.97
42.49
52.13
52.53

37.00
36.45
34.29
29.48
36.91
38.94
37.94
41.52
46.34
51.16

35.16
35.26
32.59
33.22
34.33
40.59
38.90
42.19
47.01
51.03

38.91
34.82
31.32
31.60
37.52
39.30
40.02
41.04
45.95
50.01

35.25
31.48
30.09
31.42
40.36
40.17
34.07
41.08
48.34
54.00

36.94
35.87
32.82
30.01
36.51
39.28
41.53
43.41
45.19
52.69

35.83
33.43
32.97
29.20
37.74
38.28
41.05
43.78
46.26
55.80

100.93
115.11
117.90
89.98
100.22
109.01
108.76
126.97
125.42
147.83

97.61
114.32
110.84
82.47
116.81
117.81
106.99
128.05
137.42
146.39

111.07
106.53
98.20
94.30
108.76
118.83
116.86
124.75
139.30
152.20

108.02
100.78
95.88
90.63
114.61
117.73
116.65
128.27
139.79
162.49

417.63
436.74
422.82
357.38
440.40
463.38
449.26
508.04
541.93
608.91

1965
1966
1967
1968
1969
1970
1971
1972
1973
1974

53.13
65.64
51.27
63.08
84.15
82.65
53.75
63.71
90.73
75.89

55.32
70.67
57.84
59.78
70.98
81.53
51.66
65.86
88.09
84.49

55.83
66.54
54.68
66.95
67.37
71.78
67.01
68.12
88.28
77.05

57.89
69.82
60.36
54.03
71.45
66.91
57.86
65.59
84.53
85.92

60.06
66.79
54.67
62.20
82.47
55.79
63.04
85.60
81.81
75.91

55.64
61.59
61.55
64.66
81.66
58.91
62.66
69.61
84.05
72.49

56.84
63.24
57.71
71.99
70.30
65.39
58.75
66.67
93.16
73.37

53.73
65.05
61.17
67.83
72.35
64.81
57.09
70.71
89.80
85.19

60.50
64.09
62.89
65.91
73.69
58.80
64.47
71.36
80.88
73.48

60.55
57.82
58.87
75.31
78.65
52.68
61.98
77.00
91.60
58.95

63.43
60.43
60.06
69.40
61.78
53.37
69.84
76.52
87.38
57.97

60.42
58.02
60.85
71.06
84.18
53.53
65.84
80.83
73.02
56.95

164.28
202.85
163.79
189.81
222.50
235.96
172.42
197.69
267.10
237.43

173.59
198.20
176.58
180.89
235.58
181.61
183.56
220.80
250.39
234.32

171.07
192.38
181.77
205.73
216.34
189.00
180.31
208.74
263.84
232.04

184.40
176.27
179.78
215.77
224.61
159.58
197.66
234.35
252.00
173.87

693.34
769.70
701.92
792.20
899.03
766.15
733.95
861.58
1,033.33
877.66

49.74
1975
53.68
50.10
1976
44.59
53.92
1977
54.91
69.58
1978
80.68
104.38
1979
85.78
1980
99.43
1981
83.72
1982
58.18
63.29
See footnotes at end of this part.

42.90
52.62
63.42
67.01
94.15
78.31
83.79
61.15

54.06
51.77
55.88
76.04
96.06
72.76
79.64
58.93

45.17
52.70
63.02
89.34
89.32
67.35
84.75
53.71

50.17
52.53
58.53
84.54
86.61
71.59
81.01
64.87

47.89
53.45
59.64
79.20
92.79
74.62
73.46
57.80

43.86
52.50
73.25
80.35
84.75
71.41
78.67
59.78

51.36
45.74
66.59
87.28
91.05
64.15
68.12
55.95

50.61
51.30
66.05
84.95
95.23
73.46
74.26
54.65

42.38
56.11
68.58
86.12
81.97
90.80
70.77
50.69

52.37
53.03
72.79
82.87
84.18
87.75
70.65
49.55

146.32
147.31
172.25
217.27
284.31
259.82
251.37
182.62

149.40
157.00
177.43
249.92
271.99
211.70
245.40
177.51

143.11
151.69
199.48
246.83
268.59
210.18
220.25
173.53

145.36
160.44
207.42
253.94
261.38
252.01
215.68
154.89

584.19
616.44
756.58
967.96
1,086.27
933.71
932.70
688.55




73

Year

Jan.

Feb.

Mar.

Apr.

May

Monthh
June
July

Aug.

Sept.

Oct.

Nov.

Dec.

IQ

9. Construction contracts awarded for commercial and industrial buMhgs, floor space1
[MMM square meters]

Quarterly
III Q

IIQ

IV Q

Annual

Total for period

1947
1948
1949
1950
1951
1952
1953
1954

2.82
2.51
1.79
1.77
4.28
1.58
2.33
2.48

2.52
2.56
1.60
1.56
3.33
1.66
2.57
2.00

2.24
2.13
1.77
2.09
2.77
1.85
2.30
2.30

2.39
2.26
1.73
2.44
2.54
1.92
2.38
2.54

2.28
2.74
1.52
2.59
2.20
1.74
2.76
2.92

2.50
2.25
1.56
2.50
2.23
2.17
1.82
2.60

2.70
2.94
1.49
2.66
2.18
1.96
3.53
2.42

3.57
2.46
1.28
3.31
2.03
2.17
2.33
2.56

2.27
2.02
1.76
2.94
2.28
2.05
2.43
2.44

2.56
2.09
1.57
2.88
1.78
2.17
2.95
2.89

2.63
2.02
1.57
2.96
1.68
2.56
3.07
2.63

3.13
1.71
1.78
2.75
2.75
3.61
1.87
2.99

1955
1956
1957
1958
1959
1960
1961
1962
1963
1964

3.09
3.23
3.73
2.82
3.02
3.46
3.45
3.67
4.03
4.62

3.25
3.35
3.72
2.73
2.98
3.41
3.31
3.91
4.04
4.45

3.04
4.12
3.50
2.81
3.31
3.25
3.34
4.21
3.58
4.66

2.96
4.11
3.19
2.43
3.81
3.68
3.29
3.89
3.69
4.41

3.06
3.12
3.24
2.67
3.47
3.69
3.31
4.06
4.24
4.31

3.05
3.39
3.87
2.57
3.57
3.58
3.34
3.95
4.84
4.88

3.44
3.39
3.19
2.74
3.43
3.62
3.52
3.86
4.30
4.75

3.27
3.28
3.03
3.09
3.19
3.77
3.61
3.92
4.37
4.74

3.61
3.23
2.91
2.94
3.49
3.65
3.72
3.81
4.27
4.65

3.27
2.92
2.80
2.92
3.75
3.73
3.17
3.82
4.49
5.02

3.43
3.33
3.05
2.79
3.39
3.65
3.86
4.03
4.20
4.89

3.33
3.11
3.06
2.71
3.51
3.56
3.81
4.07
4.30
5.18

1965
1966
1967
1968
1969
1970
1971
1972
1973
1974

4.94
6.10
4.76
5.86
7.82
7.68
4.99
5.92
8.43
7.05

5.14
6.57
5.37
5.55
6.59
7.57
4.80
6.12
8.18
7.85

5.19
6.18
5.08
6.22
6.26
6.67
6.23
6.33
8.20
7.16

5.38
6.49
5.61
5.02
6.64
6.22
5.38
6.09
7.85
7.98

5.58
6.20
5.08
5.78
7.66
5.18
5.86
7.95
7.60
7.05

5.17
5.72
5.72
6.01
7.59
5.47
5.82
6.47
7.81
6.73

5.28
5.87
5.36
6.69
6.53
6.07
5.46
6.19
8.65
6.82

4.99
6.04
5.68
6.30
6.72
6.02
5.30
6.57
8.34
7.91

5.62
5.95
5.84
6.12
6.85
5.46
5.99
6.63
7.51
6.83

5.63
5.37
5.47
7.00
7.31
4.89
5.76
7.15
8.51
5.48

5.89
5.61
5.58
6.45
5.74
4.96
6.49
7.11
8.12
5.39

1975
1976
1977
1978
1979
1980
1981
1982

4.99
4.14
5.10
7.50
7.97
9.24
7.78
5.40

4.62
4.65
5.01
6.46
9.70
7.63
7.79
5.88

3.99
4.89
5.89
6.23
8.75
7.27
7.78
5.68

5.02
4.81
5.19
7.06
8.92
6.76
7.40
5.47

4.20
4.90
5.85
8.30
8.30
6.26
7.87
4.99

4.66
4.88
5.44
7.85
8.05
6.65
7.53
6.03

4.45
4.97
5.54
7.36
8.62
6.93
6.82
5.37

4.07
4.88
6.80
7.46
7.87
6.63
7.31
5.55

4.77
4.25
6.19
8.11
8.46
5.96
6.33
5.20

4.70
4.77
6.14
7.89
8.85
6.82
6.90
5.08

'

7.58
7.20
5.16
5.42
10.38
5.09
7.20
6.78

7.17
7.25
4.81
7.53
6.97
5.83
6.96
8.06

8.54
7.42
4.53
8.91
6.49
6.18
8.29
7.42

8.32
5.82
4.92
8.59
6.21
8.34
7.89
8.51

31.61
27.69
19.42
30.45
30.05
25.44
30.34
30.77

9.38
10.70
10.95
8.36
9.31
10.12
10.10
11.79
11.65
13.73

9.07
10.62
10.30
7.67
10.85
10.95
9.94
11.90
12.77
13.60

10.32
9.90
9.13
8.77
10.11
11.04
10.85
11.59
12.94
14.14

10.03
9.36
8.91
8.42
10.65
10.94
10.84
11.92
12.99
15.09

38.80
40.58
39.29
33.22
40.92
43.05
41.73
47.20
50.35
56.56

5.61
5.39
5.65
6.60
7.82
4.97
6.12
7.51
6.78
5.29

15.27
18.85
15.21
17.63
20.67
21.92
16.02
18.37
24.81
22.06

16.13
18.41
16.41
16.81
21.89
16.87
17.06
20.51
23.26
21.76

15.89
17.86
16.88
19.11
20.10
17.55
16.75
19.39
24.50
21.56

17.13
16.37
16.70
20.05
20.87
14.82
18.37
21.77
23.41
16.16

64.42
71.49
65.20
73.60
83.53
71.16
68.20
80.04
95.98
81.54

3.94
5.21
6.37
8.00
7.62
8.44
6.57
4.71

4.87
4.93
6.76
7.70
7.82
8.15
6.56
4.60

13.60
13.68
16.00
20.19
26.42
24.14
23.35
16.96

13.88
14.59
16.48
23.21
25.27
19.67
22.80
16.49

13.29
14.10
18.53
22.93
24.95
19.52
20.46
16.12

13.51
14.91
19.27
23.59
24.29
23.41
20.03
14.39

54.28
57.28
70.28
89.92
100.93
86.74
86.64
63.96

,

j

10. Contracts and orders for plant and equipment in current dolars
[ Worn of dolars]

Total for period

1947
1948
1949
1950
1951
1952
1953
1954

1.50
1.31
1.60
3.43
2.51
2.84
2.20

1.72
1.42
1.60
3.51
2.55
2.88
2.24

1.66
1.41
1.74
3.19
2.59
2.64
1.91

1.84
1.21
1.74
3.21
2.56
2.88
1.96

1.59
1.25
2.16
4.36
2.39
2.76
2.00

1.84
1.37
2.09
2.98
2.69
2.16
2.05

1.68
1.26
2.53
2.84
2.76
2.66
2.15

1.60
1.36
3.20
2.73
2.48
2.23
2.15

1.59
1.49
3.01
2.36
3.34
2.57
2.31

1.62
1.43
2.71
2.63
2.50
2.72
2.43

1.60
1.61
2.72
2.63
2.36
2.34
2.25

1.59
1.46
3.00
2.83
2.83
2.14
2.40

4.88
4.14
4.94
10.13
7.65
8.36
6.35

5.27
3.83
5.99
10.55
7.64
7.80
6.01

4.87
4.11
8.74
7.93
8.58
7.46
6.61

4.81
4.50
8.43
8.09
7.69
7.20
7.08

19.83
16.58
28.10
36.70
31.56
30.82
26.05

1955
1956
1957
1958
1959
1960
1961
1962
1963
1964

2.50
3.35
3.65
2.77
3.09
3.27
3.48
3.62
3.80
4.70

2.72
3.26
3.55"
2.67
3.19
3.35
3.40
3.94
3.91
4.24

3.15
3.28
3.52
2.66
3.73
3.27
3.25
3.65
3.88
4.43

2.93
3.40
3.15
2.69
3.35
3.52
3.27
3.85
3.98
4.46

2.80
3.56
3.29
2.72
3.46
3.51
3.22
3.68
4.36
4.82

2.99
3.60
3.13
2.85
3.54
3.41
3.41
3.61
3.99
4.95

2.97
3.43
3.06
2.75
3.61
3.41
3.49
3.65
3.96
4.64

3.15
3.41
3.13
3.13
3.22
3.41
3.67
3.66
4.07
4.69

3.33
3.33
2.83
3.14
3.63
3.44
3.43
3.64
4.20
4.75

3.20
3.34
2.89
3.04
3.50
3.34
3.51
3.73
4.28
4.79

3.45
3.79
2.89
3.00
3.30
3.20
3.72
4.00
4.50
5.10

3.45
3.58
2.74
2.91
3.49
3.49
3.43
4.08
4.56
5.17

8.37
9.89
10.72
8.10
10.01
9.89
10.13
11.21
11.59
13.37

8.72
10.56
9.57
8.26
10.35
10.44
9.90
11.14
12.33
14.23

9.45
10.17
9.02
9.02
10.46
10.26
10.59
10.95
12.23
14.08

10.10
10.71
8.52
8.95
10.29
10.03
10.66
11.81
13.34
15.06

36.64
41.33
37.83
34.33
41.11
40.62
41.28
45.11
49.49
56.74

1965
1966
1967
1968
1969
1970
1971
1972
1973
1974

4.89
5.81
5.30
7.74
8.98
9.20
8.21
8.75
11.26
13.88

4.93
6.28
5.69
7.81
9.33
8.86
8.94
9.23
11.95
14.27

5.22
6.14
5.81
9.63
8.69
8.37
9.02
9.94
12.01
14.64

5.25
6.41
5.70
7.97
9.93
8.00
8.89
9.81
12.16
13.93

5.18
6.34
5.88
7.32
9.35
8.10
8.65
10.79
12.85
15.34

5.10
6.21
6.11
7.24
8.85
7.80
9.73
9.39
12.73
14.17

5.27
6.64
6.05
8.30
8.83
8.15
8.00
10.47
13.04
16.64

5.08
6.22
6.26
8.39
8.75
7.72
8.88
9.69
13.11
15.12

5.49
6.79
6.09
7.77
9.93
7.94
9.39
11.07
13.02
15.61

5.51
6.20
6.19
9.29
8.84
7.04
8.49
10.65
14.41
14.94

5.45
6.14
6.22
7.98
8.81
8.11
9.25
10.98
14.55
13.52

5.82
6.14
6.40
8.75
8.95
8.90
9.54
11.21
13.90
14.71

15.04
18.23
16.80
25.18
27.00
26.43
26.17
27.92
35.22
42.79

15.53
18.96
17.69
22.53
28.13
23.90
27.27
29.99
37.74
43.44

15.84
19.65
18.40
24.46
27.51
23.81
26.27
31.23
39.17
47.37

16.78
18.48
18.81
26.02
26.60
24.05
27.28
32.84
42.86
43.17

63.19
75.32
71.70
98.19
109.24
98.19
106.99
121.98
154.99
176.77

1975
1976
1977
1978
1979
1980
1981
1982

13.38
14.47
16.65
20.05
25.37
28.06
28.66
26.77

12.45
14.15
16.73
22.63
27.66
26.24
26.59
29.36

12.03
14.90
15.99
20.54
29.79
25.70
27.76
25.94

13.77
14.81
17.47
20.56
27.63
26.40
30.56
26.23

14.34
13.66
19.18
23.00
24.90
23.29
28.61
23.99

14.15
15.97
18.89
21.33
26.48
25.54
28.96
23.41

13.24
17.16
16.79
22.80
26.25
26.30
28.12
22.94

14.63
15.32
18.89
24.09
25.36
26.22
28.14
22.88

12.53
16.55
20.40
24.94
26.43
26.61
27.98
24.49

12.52
16.98
18.33
28.22
26.17
26.34
27.09
23.46

12.76
16.23
18.92
25.36
28.24
27.57
27.82
23.63

12.04
16.49
20.95
22.75
27.46
27.92
25.58
24.37

37.86
43.52
49.37
63.22
82.82
80.00
83.01
82.07

42.26
44.44
55.54
64.89
79.01
75.23
88.13
73.63

40.40
49.03
56.08
71.83
78.04
79.13
84.24
70.31

37.32
49.70
58.20
76.33
81.87
81.83
80.49
71.46

157.84
186.69
219.19
276.27
321.74
316.19
335.87
297.47

98.6
83.9
91.1
88.9
94.6
91.8
91.2

97.3
85.5
89.3
89.6
95.0
89.4
92.3

97.5
85.9
89.6
90.1
94.5
89.9
94.2

93.9
87.2
90.1
91.2
94.0
88.6
95.4

95.3
89.4
89.4
90.4
94.2
89.5
95.1

108.5
89.2
89.3
89.7
92.2
94.3
88.1

104.7
84.9
92.4
88.7
92.6
92.3
89.6

99.0
84.1
90.8
89.1
94.0
90.9
91.4

95.6
87.5
89.7
90.6
94.2
89.3
94.9

101.9
86.4
90.6
89.5
93.3
91.7
91.0

12. Index of net business formation
[1967 = 100]
1947
1948
1949
1950
1951
1952
1953
1954

112.6
91.6
87.3
89.3
91.4
95.1
88.6

107.9
89.0
89.9
89.7
92.2
94.2
88.0

1955
1956
1957
1958
1959
1960
1961
1962
1963
1964

97.7
97.7
93.5
88.9
98.3
99.6
88.9
93.2
94.0
96.8

1965
1966
1967
1968
1969
1970
1971
1972
1973
1974

100.4
102.0
97.0
104.1
112.9
112.1
104.5
113.5
116.7
109.5

1975
1976
1977
1978
1979
1980
1981
1982

99.7
114.2
120.3
125.2
128.3
128.1
121.6
113.2

74



Average for period

105.1
86.9
90.8
90.1
93.1
93.7
87.8

105.4
86.0
93.1
88.8
91.3
93.1
89.1

104.8
84.6
91.3
88.6
93.0
92.3
89.7

103.8
84.2
92.9
88.7
93.6
91.6
90.1

101.0
82.8
92.1
88.9
92.3
91.5
90.8

98.5
98.5
93.5
88.5
98.6
98.3
90.8
94.0
94.8
97.8

98.6
97.5
93.8
88.3
100.1
97.3
91.4
94.5
95.2
97.4

98.2
98.2
93.6
88.2
99.8
97.4
92.4
94.0
94.1
98.2

98.7
98.1
92.6
90.9
100.0
96.1
92.3
93.7
94.5
99.7

99.4
96.9
93.6
91.8
98.4
96.1
92.8
93.1
95.2
97.8

98.9
96.3
93.2
92.3
98.4
96.0
93.2
93.3
95.2
97.8

98.5
95.4
92.6
94.1
98.5
94.6
91.7
93.6
96.0
98.2

98.6
95.2
91.7
95.3
97.8
94.1
91.8
94.4
95.8
100.2

97.8
96.4
91.3
95.2
97.4
93.9
92.8
94.1
96.1
100.8

98.2
94.6
90.4
96.1
98.7
91.7
93.8
93.3
95.4
98.9

98.2
94.2
89.2
96.6
98.8
90.9
93.8
93.1
96.0
100.2

98.3
97.9
93.6
88.6
99.0
98.4
90.4
93.9
94.7
97.3

98.8
97.7
93.3
90.3
99.4
96.5
92.5
93.6
94.6
98.6

98.7
95.6
92.5
93.9
98.2
94.9
92.2
93.8
95.7
98.7

98.1
95.1
90.3
96.0
98.3
92.2
93.5
93.5
95.8
100.0

98.4
96.6
92.4
92.2
98.7
95.5
92.1
93.7
95.2
98.6

100.8
102.8
96.7
104.8
113.7
111.5
103.7
113.2
117.1
110.0

100.0
102.9
97.4
105.2
112.8
109.0
106.0
114.2
117.7
109.9

99.2
100.6
96.9
103.2
113.7
108.2
106.3
115.4
116.0
112.7

99.4
99.9
98.2
102.1
113.6
106.1
107.7
114.6
115.9
112.6

100.5
99.8
100.0
103.7
113.3
104.9
109.9
114.6
115.5
113.4

100.5
99.3
100.4
106.2
113.2
104.0
110.4
115.8
115.4
114.5

100.1
98.2
102.3
107.7
112.6
103.4
109.9
116.1
114.7
112.7

99.9
97.4
101.7
109.0
111.5
103.9
109.0
117.7
112.4
108.5

99.5
98.2
101.6
112.8
113.5
104.3
110.6
118.9
112.2
103.0

100.6
95.4
103.8
110.5
111.5
105.3
111.4
118.5
114.1
101.7

100.9
96.1
103.8
112.7
112.8
104.4
112.3
118.1
110.7
101.8

100.4
102.6
97.0
104.7
113.1
110.9
104.7
113.6
117.2
109.8

99.7
100.1
98.4
103.0
113.5
106.4
108.0
114.9
115.8
112.9

100.2
98.3
101.5
107.6
112.4
103.8
109.8
116.5
114.2
111.9

100.3
96.6
103.1
112.0
112.6
104.7
111.4
118.5
112.3
102.2

100.2
99.4
100.0
106.8
112.9
106.4
108.5
115.9
114.9
109.2

110.5
117.2
126.4
130.3
127.0
121.6
114.8
111.5

111.1
119.7
126.2
129.9
127.9
121.1
117.4
112.9

114.3
119.0
126.3
127.5
129.7
122.7
115.2
114.4

99.8
114.2
121.0
127.0
128.5
126.9
121.0

104.4
114.6
121.5
128.5
127.9
120.6
119.4
114.0

111.6
115.0
124.0
128.1
128.8
120.3
118.2
111.8

112.0
118.6
126.3
129.2
128.2
121.8
115.8
112.9

107.0
115.6
123.2
128.2
128.3
122.4
118.6
113.2

99.4
114.1
120.7
127.3
128.1
127.9
120.7
115.6

100.2
114.3
122.1
128.5
129.1
124.6
120.8
113.5

101.3
114.5
120.2
128.5
127.9
121.9
121.9
115.2

103.3
113.3
120.8
127.7
129.1
121.1
119.1
114.7

108.7
116.1
123.5
129.3
126.7
118.9
117.3
112.1

112.3
115.7
122.8
129.3
128.4
119.1
118.2
112.4

111.4
113.9
125.3
127.3
127.9
120.6
118.7
112.6

111.2
115.5
124.0
127.6
130.0
121.1
117.6
110.4

|

1 114.1

Year

Quarterly

Monthly
Jan.

Feb.

Mar.

Apr.

May

June

July

Aug.

Sept.

Oct.

Nov.

Dec.

IQ

IIQ

of new business incorporations
[Number]

111 Q

IVQ

Annual

Total for period

1947
1948
1949
1950
1951
1952
1953
1954

9,922
9,380
7,012
7,830
7,214
7,080
8,304
8,638

9,800
8,329
6,826
8,275
7,016
7,214
8,351
8,937

9,743
8,349
6,791
8,078
6,937
7,348
8,634
9,155

9,057
8,396
6,879
8,132
7,082
7,499
8,534
9,276

8,699
8,064
7,006
8,403
6,848
7,441
8,785
9,158

8,748
8,210
6,879
8,394
6,759
7,700
8,605
9,436

9,308
8,168
7,057
7,898
6,796
7,683
8,757
9,772

9,244
7,439
7,330
7,684
6,880
8,065
8,515
9,882

9,316
7,483
7,403
7,092
6,952
8,259
8,185
10,085

9,806
7,349
7,532
7,176
6,995
8,341
8,698
10,730

9,453
7,241
7,659
7,059
7,119
8,265
8,556
11,212

9,690
7,054
7,788
7,007
7,181
8,096
8,696
11,604

29,465
26,058
20,629
24,183
21,167
21,642
25,289
26,730

26,504
24,670
20,764
24,929
20,689
22,640
25,924
27,870

27,868
23,090
21,790
22,674
20,628
24,007
25,457
29,739

28,949
21,644
22,979
21,242
21,295
24,702
25,950
33,546

112,786
95,462
86,162
93,028
83,779
92,991
102,620
117,885

1955
1956
1957
1958
1959
1960
1961
1962
1963
1964

11,902
11,620
11,250
11,042
16,346
16,561
13,607
15,599
14,924
15,993

11,843
12,449
11,359
11,049
16,255
15,274
14,570
15,758
15,390
16,326

11,679
11,591
11,367
11,042
16,548
15,233
14,658
15,670
15,563
15,917

11,215
11,888
11,507
10,636
16,604
15,280
15,327
15,372
15,305
16,132

11,521
12,245
11,109
11,752
16,296
15,176
15,298
15,245
15,682
16,473

12,072
11,999
11,739
12,032
15,204
15,630
15,431
14,947
15,536
16,282

11,655
11,851
11,686
12,504
15,658
15,828
15,492
15,171
15,431
16,550

11,572
11,707
11,593
13,644
15,813
15,114
15,277
15,056
16,093
15,692

11,968
11,193
11,318
13,933
15,728
15,112
15,402
15,249
15,689
16,948

11,668
11,925
11,251
13,669
15,383
15,035
16,035
14,892
16,275
16,728

11,761
11,186
10,788
14,599
15,695
14,264
16,149
14,951
15,759
16,804

11,560
11,139
10,791
15,577
15,959
14,097
15,881
14,985
15,867
17,021

35,424
35,660
33,976
33,133
49,149
47,068
42,835
47,027
45,877
48,236

34,808
36,132
34,355
34,420
48,104
46,086
46,056
45,564
46,523
48,887

35,195
34,751
34,597
40,081
47,199
46,054
46,171
45,476
47,213
49,190

34,989
34,250
32,830
43,845
47,037
43,396
48,065
44,828
47,901
50,553

140,416
140,793
135,758
151,479
191,489
182,604
183,127
182,895
187,514
196,866

1965
1966
1967
1968
1969
1970
1971
1972
1973
1974

16,784
18,087
16,703
18,061
21,364
22,196
22,563
25,270
27,796
26,511

16,854
17,451
15,987
18,041
22,105
22,968
21,034
25,084
28,752
27,056

17,131
17,266
16,244
18,538
22,083
21,346
22,883
26,231
28,964
26,458

16,664
17,057
16,760
18,663
23,262
21,829
22,814
26,630
28,522
29,071

16,580
16,644
17,627
18,723
23,118
21,874
23,960
26,270
28,286
27,562

17,017
16,577
17,799
18,839
23,439
21,796
24,481
26,175
27,999
25,785

16,844
16,074
16,300
19,407
23,366
21,614
24,677
26,789
27,477
27,790

16,901
16,343
17,674
19,947
22,871
21,796
25,012
26,365
26,689
26,495

17,136
15,764
17,818
20,582
22,594
22,181
23,623
27,168
26,240
26,313

16,994
16,233
17,654
21,093
24,263
21,712
25,356
27,529
26,809
25,404

17,606
16,206
17,958
20,890
23,125
22,217
25,510
26,234
26,718
25,555

17,625
16,583
18,238
20,619
22,404
22,272
25,634
27,699
24,881
25,003

50,769
52,804
48,934
54,640
65,552
66,510
66,480
76,585
85,512
80,025

50,261
50,278
52,186
56,225
69,819
65,499
71,255
79,075
84,807
82,418

50,881
48,181
51,792
59,936
68,831
65,591
73,312
80,322
80,406
80,598

52,225
49,022
53,850
62,602
69,792
66,201
76,500
81,462
78,408
75,962

204,136
200,285
206,762
233,403
273,994
263,801
287,547
317,444
329,133
319,003

1975
1976
1977
1978
1979
1980
1981
1982

24,809
29,613
34,311
36,414
42,043
44,230
46,039
43,330

24,931
29,772
33,844
39,434
42,014
44,175
48,588
47,234

25,076
31,000
35,018
37,847
43,299
43,359
47,972
46,899

26,708
30,808
34,529
39,585
43,401
42,240
49,413
46,876

27,810
31,301
38,180
41,007
43,634
44,255
48,631
46,981

28,359
31,921
37,271
41,553
44,173
45,746
48,450
45,552

29,079
32,160
38,213
41,437
45,295
45,945
47,947
45,530

28,634
33,183
38,308
41,423
44,540
46,750
49,413
48,474

29,282
33,124
38,900
42,179
43,563
47,840
47,556
57,507

74,816
90,385
103,173
113,695
127,356
131,764
142,599
137,463

79,647
91,012
106,479
118,504
131,222
125,598
147,582
139,807

84,824
94,259
112,325
122,712
132,320
133,622
146,119
137,058

86,995
98,467
115,421
125,039
133,398
140,535
144,916
151,511

326,282
374,123
437,398
479,950
524,296
531,519
581,216
565,839

1947
1948
1949
1950
1951
1952
1953
1954

15.19
12.96
19.16
26.44
21.68
26.21
23.31
29.59

12.98
25.62
27.57
22.16
16.01
19.47
27.27
47.77

15.25
17.48
37.19
27.90
17.65
29.23
31.08
57.28

16.08
15.30
31.93
21.25
17.06
29.53
27.52
42.51

14.90
21.44
31.18
18.45
26.42
16.32
28.53
32.58

10.03
20.70
20.60
15.25
26.64
20.14
33.82
36.38

21.32
25.11
23.89
16.65
29.74
35.05
37.08
29.00

16.34
24.42
22.80
18.86
17.57
18.76
36.80
35.07

25.50
31.73
19.25
21.04
19.40
23.40
43.75
40.10

43.42
56.06
83.92
76.50
55.34
74.91
81.66
134.64

52.39
41.27
84.67
61.99
63.33
71.94
92.69
122.61

1955
1956
1957
1958
1959
1960
1961
1962
1963
1964

37.87
42.89
54.06
64.44
73.56
53.67
81.52
106.61
160.96
96.73

42.06
49.19
65.41
65.30
58.59
60.94
88.08
90.50
94.72
123.94

41.21
42.62
55.83
71.56
65.05
70.19
126.62
80.88
97.70
111.00

35.97
41.87
57.10
83.98
71.91
69.19
86.11
121.83
100.76
112.88

34.71
59.90
52.55
56.25
50.92
73.31
80.47
91.51
118.27
93.42

36.67
43.01
51.45
61.44
49.20
126.45
83.83
88.49
86.15
144.50

32.54
48.69
44.30
65.38
51.20
61.73
69.17
91.57
120.51
125.64

36.03
55.04
43.51
50.76
54.50
97.59
102.69
146.83
65.23
95.18

33.12
39.31
45.42
48.10
54.74
80.60
116.66
96.16
85.92
114.56

34.78
50.00
47.43
47.27
50.38
81.51
70.26
119.09
91.83
93.77

42.78
39.89
52.90
56.72
53.21
84.46
119.21
98.84
262.11
119.32

41.64
50.28
45.32
57.07
59.56
78.97
65.49
81.28
68.43
98.28

121.14
134.70
175.30
201.30
197.20
184.80
296.22
277.99
353.38
331.67

107.35
144.78
161.10
201.67
172.03
268.95
250.41
301.83
305.18
350.80

1965
1966
1967
1968
1969
1970
1971
1972
1973
1974

89.27
103.18
108.17
104.49
75.03
137.28
168.80
101.62
205.84
337.28

111.98
95.54
113.45
79.60
89.99
139.39
150.90
191.33
137.16
213.13

146.58
103.47
119.32
88.59
84.12
120.02
224.65
220.66
252.35
204.59

83.25
110.14
103.82
80.11
118.76
131.90
153.80
148.47
119.34
209.76

133.11
96.38
93.37
91.41
92.60
147.89
249.49
190.14
167.95
375.69

144.61
123.58
104.64
74.66
91.92
170.50
165.84
127.90
180.21
215.50

121.48
69.88
72.55
90.27
112.73
251.92
147.03
204.62
206.19
153.40

135.04
178.09
108.90
65.77
62.83
169.59
155.56
253.62
190.15
232.68

104.98
129.16
93.94
58.65
73.70
232.94
115.85
113.54
189.47
217.01

82.07
108.05
81.63
65.38
116.44
144.77
144.70
152.97
185.66
306.83

71.72
106.73
69.98
58.65
127.14
119.84
129.00
208.58
218.67
344.66

97.58
161.48
195.45
83.41

96.85
121.72
111.32
86.79
245.62
242.59

347.83
302.19
340.94
272.68
249.14
396.69
544.35
513.61
595.35
755.00

1975
1976
1977
1978
1979
1980
1981
1982

391.14
257.07
168.54
168.31
182.22
243.15
341.36
645.14

384.76
211.76
194.20
205.01
177.09
190.79
789.20
913.46

343.35
247.65
248.20
324.41
187.76
274.24
485.34
836.01

372.08
206.42
207.27
202.99
242.76
428.15
536.88
1,309.33

357.79
233.28
473.89
160.40
200.45
381.15
428.20
2,850.45

175.92
373.64
305.86
178.84
273.17
436.68
408.54

242.03
305.55
577.82
231.82
212.20
445.69
619.46

222.44
263.96
338.25
206.40
287.44
345.41
450.41

205.53
250.32
96.99
127.02
186.20
1,002.94
752.34

1,295.39
183.57
115.69
475.34
395.75
359.24
897.94

252.87
277.60
200.29
178.93
184.31
239.34
618.76

136.88
200.44
168.32
196.54
138.02
288.30
626.74

26,632
26,307
28,655
28,784
31,420
31,037
35,256
36,694
36,874
39,059
39,860
40,152
44,317
43,504
44,513
42,710
40,648
43,621
48,997
49,172
49,038
46,995
45,936
44,525
14. Current iabfties of business faiures <§)
[Ittons of dolars]
17.33
18.98
20.70
13.81
13.88
12.16
24.58
21.80
28.16
22.67
19.54
18.07
23.50
21.09
22.77
21.19
22.79
21.22
32.79
39.83
32.38
38.49
32.23
41.61

19. Index of stock prices, 500
[1941-43=10]

Total for period
45.63
56.02
73.58
53.24
74.15
59.25
102.18
101.19

63.16
81.26
65.94
56.55
66.71
77.21
117.63
104.17

204.60
234.61
308.11
248.28
259.53
283.31
394.16
462.61

101.69
143.04
133.23
164.24
160.44
239.92
288.52
334.56
271.66
335.38

119.20
140.17
145.65
161.06
163.15
244.94
254.96
299.21
422.37
311.37

449.38
562.69
615.28
728.27
692.82
938.61
1,090.11
1,213.59
1,352.59
1,329.22

360.97
330.10
301.83
246.18
303.28
450.29
569.13
466.51
467.50
800.95

361.50
377.13
275.39
214.69
249.26
654.45
418.44
571.78
585.81
603.09

251.37
376.26
347.06
207.44
340.43
386.33
385.02
448.34
649.95
894.08

1,321.67
1,385.68
1,265.22
940.99
1,142.11
1,887.76
1,916.94
2,000.24
2,298.61
3,053.12

1,119.25
716.48
610.94
697.73
547.07
708.18
1,615.90
2,394.61

905.79
813.34
987.02
542.23
716.38
1,245.98
1,373.62

670.00
819.83
1,013.06
565.24
685.84
1,794.04
1,822.21

1,685.14
661.61
484.30
850.81
718.08
886.88

4,380.18
3,011.26
3,095.32
2,656.01
2,667.37
4,635.08
6,955.17

2,143.44

stocks®
Average for period

1947
1948
1949
1950
1951
1952
1953
1954

15.21
14.83
15.36
16.88
21.21
24.19
26.18
25.46

15.80
14.10
14.77
17.21
22.00
23.75
25.86
26.02

15.16
14.30
14.91
17.35
21.63
23.81
25.99
26.57

14.60
15.40
14.89
17.84
21.92
23.74
24.71
27.63

14.34
16.15
14.78
18.44
21.93
23.73
24.84
28.73

14.84
16.82
13.97
18.74
21.55
24.38
23.95
28.96

15.77
16.42
14.76
17.38
21.93
25.08
24.29
30.13

15.46
15.94
15.29
18.43
22.89
25.18
24.39
30.73

15.06
15.76
15.49
19.08
23.48
24.78
23.27
31.45

15.45
16.19
15.89
19.87
23.36
24.26
23.97
32.18

15.27
15.29
16.11
19.83
22.71
25.03
24.50
33.44

15.03
15.19
16.54
19.75
23.41
26.04
24.83
34.97

15.39
14.41
15.01
17.15
21.61
23.92
26.01
26.02

14.59
16.12
14.55
18.34
21.80
23.95
24.50
28.44

15.43
16.04
15.18
18.30
22.77
25.01
23.98
30.77

15.25
15.56
16.18
19.82
23.16
25.11
24.43
33.53

15.17
15.53
15.23
18.40
22.34
24.50
24.73
29.69

1955
1956
1957
1958
1959
1960
1961
1962
1963
1964

35.60
44.15
45.43
41.12
55.62
58.03
59.72
69.07
65.06
76.45

36.79
44.43
43.47
41.26
54.77
55.78
62.17
70.22
65.92
77.39

36.50
47.49
44.03
42.11
56.15
55.02
64.12
70.29
65.67
78.80

37.76
48.05
45.05
42.34
57.10
55.73
65.83
68.05
68.76
79.94

37.60
46.54
46.78
43.70
57.96
55.22
66.50
62.99
70.14
80.72

39.78
46.27
47.55
44.75
57.46
57.26
65.62
55.63
70.11
80.24

42.69
48.78
48.51
45.98
59.74
55.84
65.44
56.97
69.07
83.22

42.43
48.49
45.84
47.70
59.40
56.51
67.79
58.52
70.98
82.00

44.34
46.84
43.98
48.96
57.05
54.81
67.26
58.00
72.85
83.41

42.11
46.24
41.24
50.95
57.00
53.73
68.00
56.17
73.03
84.85

44.95
45.76
40.35
52.50
57.23
55.47
71.08
60.04
72.62
85.44

45.37
46.44
40.33
53.49
59.06
56.80
71.74
62.64
74.17
83.96

36.30
45.36
44.31
41.50
55.51
56.28
62.00
69.86
65.55
77.55

38.38
46.95
46.46
43.60
57.51
56.07
65.98
62.22
69.67
80.30

43.15
48.04
46.11
47.55
58.73
55.72
66.83
57.83
70.97
82.88

44.14
46.15
40.64
52.31
57.76
55.33
70.27
59.62
73.27
84.75

40.49
46.62
44.38
46.24
57.38
55.85
66.27
62.38
69.86
81.37

1965
1966
1967
1968
1969
1970
1971
1972
1973
1974

86.12
93.32
84.45
95.04
102.04
90.31
93.49
103.30
118.42
96.11

86.75
92.69
87.36
90.75
101.46
87.16
97.11
105.24
114.16
93.45

86.83
88.88
89.42
89.09
99.30
88.65
99.60
107.69
112.42
97.44

87.97
91.60
90.96
95.67
101.26
85.95
103.04
108.81
110.27
92.46

89.28
86.78
92.59
97.87
104.62
76.06
101.64
107.65
107.22
89.67

85.04
86.06
91.43
100.53
99.14
75.59
99.72
108.01
104.75
89.79

84.91
85.84
93.01
100.30
94.71
75.72
99.00
107.21
105.83
82.82

86.49
80.65
94.49
98.11
94.18
77.92
97.24
111.01
103.80
76.03

89.38
77.81
95.81
101.34
94.51
82.58
99.40
109.39
105.61
68.12

91.39
77.13
95.66
103.76
95.52
84.37
97.29
109.56
109.84
69.44

92.15
80.99
92.66
105.40
96.21
84.28
92.78
115.05
102.03
71.74

91.73
81.33
95.30
106.48
91.11
90.05
99.17
117.50
94.78
67.07

86.57
91.63
87.08
91.63
100.93
88.71
96.73
105.41
115.00
95.67

87.43
88.15
91.66
98.02
101.67
79.20
101.47
108.16
107.41
90.64

86.93
81.43
94.44
99.92
94.47
78.74
98.55
109.20
105.08
75.66

91.76
79.82
94.54
105.21
94.28
86.23
96.41
114.04
102.22
69.42

88.17
85.26
91.93
98.70
97.84
83.22
98.29
109.20
107.43
82.84

1975
1976
1977
1978
1979
1980
1981
1982

72.56
96.86
103.81
90.25
99.71
110.87
132.97
117.28

80.10
100.64
100.96
88.98
98.23
115.34
128.40
114.50

83.78
101.08
100.57
88.82
100.11
104.69
133.19
110.84

84.72
101.93
99.05
92.71
102.07
102.97
134.43
116.31

90.10
101.16
98.76
97.41
99.73
107.69
131.73
116.35

92.40
101.77
99.29
97.66
101.73
114.55
132.28
109.70

92.49
104.20
100.18
97.19
102.71
119.83
129.13
109.38

85.71
103.29
97.75
103.92
107.36
123.50
129.63
109.65

84.67
105.45
96.23
103.86
108.60
126.51
118.27
122.43

88.57
101.89
93.74
100.58
104.47
130.22
119.80
132.66

90.07
101.19
94.28
94.71
103.66
135.65
122.92
138.10

88.70
104.66
93.82
96.11
107.78
133.48
123.79
139.37

78.81
99.53
101.78
89.35
99.35
110.30
131.52
114.21

89.07
101.62
99.03
95.93
101.18
108.40
132.81
114.12

87.62
104.31
98.05
101.66
106.22
123.28
125.68
113.82

89.11
102.58
93.95
97.13
105.30
133.12
122.17
136.71

86.16
102.01
98.20
96.02
103.01
118.78
128.04
119.71

See footnotes at end of this part.




75

Year

Monthly
Jan.

Feb.

Mar.

Quarterly

Apr.
May
June
July
Aug.
20. Contracts and orders for plant and
in 1972 dolars
[More of dolars]

Sept.

Oct.

Nov.

Dec.

_UL

IIP

III Q

IV Q

Annual

Total for period

1947
1948
1949
1950
1951
1952
1953
1954

3.17
2.54
3.16
5.85
4.22
4.78
3.60

3.64
2.76
3.14
5.97
4.28
4.87
3.66

3.47
2.73
3.42
5.40
4.34
4.42
3.12

3.84
2.35
3.41
5.42
4.30
4.80
3.19

3.30
2.43
4.20
7.52
4.01
4.59
3.27

3.80
2.68
4.05
5.02
4.53
3.54
3.36

3.42
2.46
4.85
4.79
4.65
4.38
3.51

3.19
2.67
5.98
4.61
4.18
3.64
3.52

3.13
2.93
5.55
3.97
5.71
4.21
3.78

3.17
2.83
4.92
4.41
4.23
4.49
4.00

3.11
3.19
4.90
4.42
3.99
3.84
3.69

3.09
2.89
5.21
4.77
4.80
3.49
3.92

10.28
8.03
9.72
17.22
12.84
14.07
10.38

10.94
7.46
11.66
17.96
12.84
12.93
9.82

9.74
8.06
16.38
13.37
14.54
12.23
10.81

9.37
8.91
15.03
13.60
13.02
11.82
11.61

40.33
32.46
52.79
62.15
53.24
51.05
42.62

1955
1956
1957
1958
1959
1960
1961
1962
1963
1964

4.07
5.11
5.14
3.81
4.19
4.37
4.74
4.85
5.06
6.22

4.41
4.95
4.96
3.67
4.31
4.47
4.59
5.30
5.21
5.61

5.09
4.94
4.92
3.65
5.08
4.35
4.33
4.94
5.16
5.83

4.76
5.08
4.37
3.68
4.55
4.72
4.40
5.15
5.30
5.89

4.52
5.26
4.57
3.72
4.66
4.72
4.34
4.94
5.86
6.34

4.78
5.32
4.34
3.92
4.75
4.56
4.59
4.84
5.32
6.52

4.73
5.06
4.22
3.76
4.84
4.60
4.67
4.90
5.25
6.12

4.98
4.98
4.30
4.33
4.29
4.59
4.92
4.92
5.40
6.18

5.22
4.78
3.85
4.31
4.87
4.66
4.59
4.87
5.56
6.26

4.96
4.76
3.95
4.18
4.70
4.52
4.70
4.97
5.68
6.31

5.34
5.35
3.94
4.07
4.42
4.33
5.02
5.34
6.05
6.76

5.29
5.04
3.75
3.94
4.66
4.71
4.60
5.52
6.10
6.85

13.57
15.00
15.02
11.13
13.58
13.19
13.66
15.09
15.43
17.66

14.06
15.66
13.28
11.32
13.96
14.00
13.33
14.93
16.48
18.75

14.93
14.82
12.37
12.40
14.00
13.85
14.18
14.69
16.21
18.56

15.59
15.15
11.64
12.19
13.78
13.56
14.32
15.83
17.83
19.92

58.15
60.63
52.31
47.04
55.32
54.60
55.49
60.54
65.95
74.89

1965
1966
1967
1968
1969
1970
1971
1972
1973
1974

6.40
7.49
6.51
9.17
10.46
10.14
8.58
8.86
11.10
12.84

6.46
8.04
6.99
9.24
10.69
9.71
9.28
9.34
11.72
13.07

6.81
7.83
7.15
11.34
9.93
9.15
9.27
10.04
11.69
13.12

6.86
8.14
6.97
9.29
11.25
8.70
9.20
9.89
11.72
12.45

6.78
7.98
7.18
8.63
10.68
8.72
8.90
10.86
12.38
13.27

6.60
7.78
7.46
8.52
10.02
8.39
9.99
9.41
12.27
12.08

6.83
8.31
7.34
9.73
9.95
8.68
8.22
10.47
12.55
13.82

6.56
7.77
7.59
9.89
9.82
8.22
9.05
9.67
12.59
12.36

7.12
8.51
7.40
9.07
11.04
8.42
9.59
10.98
12.48
12.49

7.12
7.66
7.50
10.81
9.85
7.40
8.66
10.57
13.68
11.73

6.99
7.58
7.49
9.22
9.74
8.50
9.43
10.84
13.76
10.55

7.46
7.54
7.65
10.12
9.88
9.29
9.70
11.00
13.05
11.23

19.67
23.36
20.65
29.75
31.08
29.00
27.13
28.24
34.51
39.03

20.24
23.90
21.61
26.44
31.95
25.81
28.09
30.16
36.37
37.80

20.51
24.59
22.33
28.69
30.81
25.32
26.86
31.12
37.62
38.67

21.57
22.78
22.64
30.15
29.47
25.19
27.79
32.41
40.49
33.51

81.99
94.63
87.23
115.03
123.31
105.32
109.87
121.93
148.99
149.01

1975
1976
1977
1978
1979
1980
1981
1982

10.13
10.48
11.41
12.81
15.15
15.71
14.60
13.22

9.39
10.30
11.45
14.50
16.56
14.27
13.63
14.44

9.03
10.58
10.90
13.15
18.63
13.71
13.98
13.14

10.23
10.77
11.86
13.12
16.07
13.96
15.14
14.05

10.64
9.77
12.97
14.64
14.38
12.54
14.28
11.81

10.46
11.26
12.66
13.39
15.37
14.16
14.47
11.36

9.77
12.13
11.28
14.26
14.83
15.02
13.72
11.12

10.78
10.84
12.67
14.98
14.16
13.88
14.24
11.26

9.25
11.56
13.42
15.38
14.70
14.24
14.26
12.22

9.16
11.84
12.09
17.19
14.68
13.65
13.60
11.95

9.27
11.25
12.26
15.30
16.11
14.40
14.48
11.52

8.78
11.43
13.49
13.59
15.24
14.82
12.87
12.77

28.55
31.36
33.76
40.46
50.34
43.69
42.21
40.80

31.33
31.80
37.49
41.15
45.82
40.66
43.89
37.22

29.80
34.53
37.37
44.62
43.69
43.14
42.22
34.60

27.21
34.52
37.84
46.08
46.03
42.87
40.95
36.24

116.89
132.21
146.46
172.31
185.88
170.36
169.27
148.86

21. Average weekly overtime hours of production or nonsupervisory workers, manufacture
[Hours]

Average for period

1947
1948
1949
1950
1951
1952
1953
1954
1955
1956
1957
1958
1959
1960
1961
1962
1963
1964

3.1
2.8
1.8
2.5
3.0
2.1
2.8
2.7
2.9

2.9
2.6
1.8
2.6
2.8
2.1
2.7
2.8
2.9

2.7
2.6
1.7
2.8
2.7
2.1
2.8
2.8
2.9

2.8
2.5
1.7
2.8
2.4
2.2
2.9
2.6
3.1

2.7
2.3
1.8
2.9
2.5
2.3
2.9
2.8
3.1

2.6
2.4
1.9
2.9
2.4
2.3
2.9
2.9
3.1

2.6
2.4
1.9
2.8
2.4
2.4
2.8
2.9
3.1

2.5
2.2
2.1
2.8
2.3
2.5
2.6
2.9
3.3

2.7
2.1
2.2
2.7
2.3
2.5
2.8
2.9
3.2

2.8
2.1
2.2
2.7
2.4
2.6
2.7
2.9
3.1

2.7
2.1
2.4
2.4
2.1
2.7
2.7
2.9
3.1

2.9
1.9
2.5
2.6
2.0
2.8
2.8
3.0
3.4

2.9
2.7
1.8
2.6
2.8
2.1
2.8
2.8
2.9

2.7
2.4
1.8
2.9
2.4
2.3
2.9
2.8
3.1

2.6
2.2
2.1
2.8
2.3
2.5
2.7
2.9
3.2

2.8
2.0
2.4
2.6
2.2
2.7
2.7
2.9
3.2

2.8
2.3
2.0
2.7
2.4
2.4
2.8
2.8
3.1

1965
1966
1967
1968
1969
1970
1971
1972
1973
1974

3.5
3.9
3.6
3.4
3.7
3.4
2.8
3.1
3.9
3.6

3.6
4.1
3.4
3.5
3.6
3.2
2.8
3.2
4.0
3.5

3.7
4.1
3.3
3.5
3.6
3.2
2.8
3.3
3.8
3.5

3.4
4.1
3.3
3.1
3.7
3.0
2.8
3.6
4.1
2.8

3.6
4.0
3.3
3.6
3.6
3.0
2.9
3.4
3.9
3.5

3.6
3.9
3.2
3.6
3.6
3.1
2.9
3.5
3.8
3.4

3.6
4.0
3.3
3.6
3.6
3.0
2.9
3.4
3.8
3.4

3.5
3.9
3.4
3.5
3.6
2.9
2.9
3.5
3.7
3.3

3.5
3.9
3.5
3.6
3.6
2.7
2.9
3.5
3.8
3.2

3.7
3.9
3.4
3.7
3.5
2.7
2.9
3.6
3.8
3.2

3.8
3.8
3.3
3.8
3.5
2.6
2.9
3.7
3.9
2.8

3.8
3.6
3.4
3.7
3.5
2.7
3.0
3.7
3.7
2.7

3.6
4.0
3.4
3.5
3.6
3.3
2.8
3.2
3.9
3.5

3.5
4.0
3.3
3.4
3.6
3.0
2.9
3.5
3.9
3.2

3.5
3.9
3.4
3.6
3.6
2.9
2.9
3.5
3.8
3.3

3.8
3.8
3.4
3.7
3.5
2.7
2.9
3.7
3.8
2.9

3.6
3.9
3.4
3.6
3.6
3.0
2.9
3.5
3.8
3.3

1975
1976
1977
1978
1979
1980
1981
1982

2.5
3.1
3.3
3.4
3.6
3.1
3.0
2.3

2.4
3.1
3.3
3.7
3.7
3.0
2.9
2.5

2.4
3.2
3.3
3.5
3.6
3.1
2.9
2.3

2.4
2.6
3.6
3.9
2.9
3.0
2.9
2.4

2.3
3.3
3.5
3.5
3.4
2.6
3.0
2.3

2.5
3.2
3.5
3.6
3.4
2.4
2.9
2.3

2.6
3.2
3.5
3.6
3.4
2.5
2.9
2.3

2.8
3.1
3.5
3.5
3.2
2.6
2.9
2.3

2.8
3.2
3.5
3.6
3.2
2.8
2.7
2.3

2.8
3.1
3.5
3.6
3.3
2.8
2.6
2.3

2.9
3.2
3.6
3.7
3.2
3.0
2.5
2.3

3.0
3.2
3.5
3.6
3.2
3.1
2.4
2.3

2.4
3.1
3.3
3.5
3.6
3.1
2.9
2.4

2.4
3.0
3.5
3.7
3.2
2.7
2.9
2.3

2.7
3.2
3.5
3.6
3.3
2.6
2.8
2.3

2.9
3.2
3.5
3.6
3.2
3.0
2.5
2.3

2.6
3.1
3.5
3.6
3.3
2.8
2.8
2.3

23. Index of spot market prices, raw industrial materials®2
[1967 = 100]

Average for period

1947
1948
1949
1950
1951
1952
1953
1954

112.4
129.1
116.6
94.1
173.0
130.3
102.2
91.6

116.7
124.2
110.3
93.2
174.3
123.3
101.5
91.0

122.5
119.2
101.8
92.9
169.4
118.4
102.6
92.3

119.6
120.7
91.2
94.0
167.1
115.0
97.8
95.7

110.7
119.9
89.9
98.2
164.7
113.3
97.1
96.7

108.6
121.3
87.0
101.8
156.8
110.4
96.6
97.4

109.7
121.1
88.6
112.8
139.0
108.9
95.9
96.3

111.2
121.9
93.5
127.7
134.1
108.4
95.4
95.9

115.8
120.2
95.0
142.7
132.6
108.8
93.3
97.3

122.8
118.0
91.1
148.1
135.5
105.7
90.4
99.0

128.0
121.3
93.8
158.8
133.5
105.7
92.8
99.5

128.6
119.4
92.8
164.0
133.3
104.8
92.7
99.3

117.2
124.2
109.6
93.4
172.2
124.0
102.1
91.6

113.0
120.6
89.4
98.0
162.9
112.9
97.2
96.6

112.2
121.1
92.4
127.7
135.2
108.7
94.9
96.5

126.5
119.6
92.6
157.0
134.1
105.4
92.0
99.3

117.2
121.4
96.0
119.0
151.1
112.8
96.5
96.0

1955
1956
1957
1958
1959
1960
1961
1962
1963
1964

101.7
112.2
109.0
92.8
99.2
105.3
96.9
102.5
95.1
98.1

103.3
110.4
105.6
93.0
99.1
103.9
98.9
100.2
94.7
98.1

101.4
110.7
105.3
92.2
100.7
102.0
102.7
100.0
94.0
98.5

103.0
111.2
104.3
89.8
101.7
103.4
103.7
97.9
94.1
102.0

101.7
107.3
103.4
90.2
102.4
103.7
104.0
97.4
94.8
100.5

103 0
104.4
104.0
91.7
102.8
102.3
100.6
95.0
93.5
101.0

106.8
104.9
103.4
94.3
102.8
101.2
101.3
93.8
93.8
102.1

108.2
107.8
102.7
96.0
103.3
101.7
102.5
94.1
93.8
105.3

109.6
109.8
99.6
95.9
104.7
100.8
102.5
93.6
93.7
107.8

108.8
109.0
96.5
98.9
105.4
99.3
101.9
94.5
95.9
111.6

110.3
111.9
94.5
101.4
105.5
98.1
98.5
96.0
96.9
112.7

113.5
112.0
93.9
99.9
104.4
96.4
100.6
95.4
97.3
112.1

102.1
111.1
106.6
92.7
99.7
103.7
99.5
100.9
94.6
98.2

102.6
107.6
103.9
90.6
102.3
103.1
102.8
96.8
94.1
101.2

108.2
107.5
101.9
95.4
103.6
101.2
102.1
93.8
93.8
105.1

110.9
111.0
95.0
100.1
105.1
97.9
100.3
95.3
96.7
112.1

105.9
109.3
101.8
94.7
102.7
101.5
101.2
96.7
94.8
104.2

1965
1966
1967
1968
1969
1970
1971
1972
1973
1974

110.2
120.0
106.4
99.4
103.0
118.9
105.9
110.7
139.3
215.9

110.3
122.4
104.8
99.1
105.9
119.5
107.2
113.0
147.5
232.0

112.7
123.0
102.1
99.7
106.5
118.7
107.8
117.2
155.3
237.2

116.2
121.0
99.7
97.9
108.9
118.2
110.2
119.5
158.2
238.4

116.4
117.8
99.2
95.7
110.0
117.5
108.6
124.3
162.9
226.2

114.8
117.9
99.4
95.2
111.2
114.8
106.1
123.8
170.1
227.5

114.1
118.3
97.9
94.0
112.0
112.4
104.7
123.7
178.1
228.2

114.7
111.3
97.7
94.5
114.5
111.2
106.1
124.6
189.8
224.2

114.3
108.5
97.4
95.7
116.9
110.5
107.5
124.8
186.3
214.7

114.5
105.9
97.3
97.1
115.1
109.5
107.4
128.1
188.1
204.4

115.0
105.5
98.7
99.9
115.1
108.8
106.9
131.6
192.4
196.4

116.6
105.4
99.7
100.3
116.7
106.4
106.8
134.8
208.9
183.4

111.1
121.8
104.4
99.4
105.1
119.0
107.0
113.6
147.4
228.4

115.8
118.9
99.4
96.3
110.0
116.8
108.3
122.5
163.7
230.7

114.4
112.7
97.7
94.7
114.5
111.4
106.1
124.4
184.7
222.4

115.4
105.6
98.6
99.1
115.6
108.2
107.0
131.5
196.5
194.7

114.2
114.8
100.0
97.4
111.3
113.9
107.1
123.0
173.1
219.0

1975
1976
1977
1978
1979
1980
1981
1982

180.1
183.6
210.2
219.7
258.3
316.2
291.6
263.4

181.1
186.6
216.4
219.9
273.5
322.5
284.2
261.0

182.3
193.2
222.8
219.8
288.5
316.9
289.8
254.5

186.4
200.9
221.9
220.3
294.5
301.9
293.0
247.4

184.2
202.7
218.1
217.8
293.8
278.5
288.9
245.5

173.2
205.2
206.4
222.1
293.9
267.5
282.9
232.2

171.5
214.1
204.1
224.7
297.3
277.6
286.6
237.0

179.6
209.6
202.7
232.6
298.1
292.1
289.5
236.2

184.2
206.2
202.9
239.1
297.3
298.3
283.0
239.0

181.9
201.6
204.7
249.4
307.7
300.8
277.2
235.5

179.8
201.0
203.8
254.8
304.0
304.7
270.5
230.4

180.6
203.2
210.9
251.8
309.6
298.4
264.2
227.4

181.2
187.8
216.5
219.8
273.4
318.5
288.5
259.6

181.3
202.9
215.5
220.1
294.1
282.6
288.3
241.7

178.4
210.0
203.2
232.1
297.6
289.3
286.4
237.4

180.8
201.9
206.5
252.0
307.1
301.3
270.6
231.1

180.4
200.7
210.4
231.0
293.0
298.0
283.4
242.5

76



Year

Jan.

Feb.

Mar.

Apr.

May

Monthly
July
June

Aug.

Sept.

Oct.

Nov.

Dec.

24. Manufacturers' new orders in current dollars, nondefense capital goods industries
[Billions of dollars]

JJL

Quarterly
IIQ
HI Q

IV Q

Annual

Total for period

1947
1948
1949
1950
1951
1952
1953
1954

1.28
1.13
1.32
3.06
2.18
2.57
1.78

1.43
1.22
1.42
3.09
2.25
2.43
1.86

1.45
1.21
1.43
2.92
2.30
2.29
1.56

1.62
1.02
1.49
2.88
2.22
2.41
1.65

1.31
1.08
1.88
2.74
2.04
2.30
1.61

1.57
1.13
1.81
2.56
2.23
1.90
1.65

1.38
1.06
2.22
2.46
2.36
2.09
1.75

1.36
1.13
2.81
2.35
2.07
1.84
1.74

1.38
1.26
2.64
2.11
2.20
1.88
1.94

1.39
1.19
2.40
2.40
2.19
1.80
1.93

1.40
1.25
2.37
2.38
1.97
1.78
1.83

1.43
1.20
2.68
2.37
2.19
1.76
1.95

4.16
3.56
4.17
9.07
6.73
7.29
5.20

4.50
3.23
5.18
8.18
6.49
6.61
4.91

4.12
3.45
7.67
6.92
6.63
5.81
5.43

4.22
3.64
7.45
7.15
6.35
5.34
5.71

17.00
13.88
24.47
31.32
26.20
25.05
21.25

1955
1956
1957
1958
1959
1960
1961
1962
1963
1964

2.09
2.72
2.96
2.28
2.62
2.73
2.74
3.06
3.21
3.94

2.29
2.55
2.96
2.16
2.70
2.83
2.76
3.27
3.29
3.52

2.62
2.68
2.83
2.21
3.06
2.78
2.76
2.92
3.34
3.77

2.30
2.82
2.61
2.25
2.79
2.90
2.73
3.20
3.35
3.72

2.31
2.99
2.63
2.26
2.92
2.89
2.66
3.02
3.49
4.12

2.47
3.02
2.53
2.28
3.00
2.87
2.81
2.97
3.33
4.23

2.43
2.77
2.52
2.29
3.03
2.78
2.94
3.00
3.36
3.90

2.59
2.84
2.56
2.46
2.79
2.78
3.08
2.99
3.47
3.94

2.57
2.84
2.42
2.56
3.04
2.75
2.91
3.06
3.53
3.92

2.64
2.88
2.36
2.48
2.93
2.69
2.94
3.11
3.54
4.01

2.77
3.21
2.33
2.58
2.74
2.60
3.04
3.34
3.45
4.06

2.87
3.07
2.16
2.47
2.96
2.86
2.88
3.15
3.61
4.15

7.00
7.95
8.75
6.65
8.38
8.34
8.26
9.25
9.84
11.23

7.08
8.83
7.77
6.79
8.71
8.66
8.20
9.19
10.17
12.07

7.59
8.45
7.50
7.31
8.86
8.31
8.93
9.05
10.36
11.76

8.28
9.16
6.85
7.53
8.63
8.15
8.86
9.60
10.60
12.22

29.95
34.39
30.87
28.28
34.58
33.46
34.25
37.09
40.97
47.28

1965
1966
1967
1968
1969
1970
1971
1972
1973
1974

4.13
4.79
4.43
6.74
6.85
7.18
6.81
7.28
9.49
12.26

4.06
5.25
4.69
6.71
7.99
7.09
7.36
8.05
10.04
12.51

4.40
5.17
4.73
8.43
7.44
6.77
7.38
8.37
10.40
12.97

4.34
5.33
4.78
7.27
8.88
6.28
7.22
8.19
10.80
12.61

4.23
5.37
4.88
6.06
7.64
6.80
7.21
9.12
10.96
12.58

4.38
5.31
5.03
5.93
7.51
6.35
8.17
7.94
10.53
12.42

4.46
5.57
5.13
6.99
7.42
6.68
6.68
8.89
11.00
14.34

4.34
5.20
5.24
6.65
7.49
6.36
7.12
8.30
10.74
13.39

4.50
5.46
4.99
6.37
8.56
6.62
8.02
9.33
11.15
13.42

4.63
5.36
5.04
7.68
7.29
6.20
7.26
9.01
12.04
12.00

4.72
5.15
5.12
6.73
7.66
6.79
7.77
9.35
12.31
11.88

5.05
5.19
5.40
7.27
7.20
7.48
8.15
9.56
12.11
11.61

12.59
15.21
13.85
21.88
22.28
21.04
21.55
23.70
29.93
37.74

12.95
16.01
14.69
19.26
24.03
19.43
22.60
25.25
32.29
37.61

13.30
16.23
15.36
20.01
23.47
19.66
21.82
26.52
32.89
41.15

14.40
15.70
15.56
21.68
22.15
20.47
23.18
27.92
36.46
35.49

53.24
63.15
59.46
82.83
91.93
80.60
89.15
103.39
131.57
151.99

1975
1976
1977
1978
1979
1980
1981
1982

11.94
11.25
14.18
16.40
21.22
25.01
25.02
21.86

10.83
11.62
13.92
17.94
24.26
23.68
22.70
22.41

10.30
11.69
13.95
17.46
25.77
22.82
23.99
21.71

11.16
12.37
14.58
18.51
22.31
23.92
26.00
22.81

10.83
12.46
14.87
19.12
22.70
20.97
24.56
20.31

10.58
12.49
15.92
18.83
23.47
22.40
24.62
19.93

11.36
14.08
14.71
18.92
22.19
23.48
24.16
19.93

11.07
12.86
15.14
20.18
22.80
21.88
24.74
18.74

10.85
13.36
16.31
21.20
23.44
23.46
24.36
20.22

11.07
13.94
16.50
22.65
22.89
22.90
22.66
20.13

11.45
13.31
16.52
22.30
24.08
23.66
24.30
19.98

10.72
14.10
17.16
19.99
23.86
24.44
21.05
19.68

33.07
34.56
42.05
51.80
71.25
71.51
71.71
65.98

32.57
37.32
45.37
56.46
68.48
67.29
75.18
63.05

33.28
40.30
46.16
60.30
68.43
68.82
73.26
58.89

33.24
41.35
50.18
64.94
70.83
71.00
68.01
59.79

132.16
153.53
183.76
233.50
278.99
278.62
288.16
247.71

1947
1948
1949
1950
1951
1952
1953
1954

-0.33
-.99
58
5.41
59
1.73
-2.46

-0.16
-.30
-.85
.36
3.72
-.01
.42
-1.69

-0.17
-.14
-.96
.41
3.91
1.97
-.80
-2.49

-0.42
.01
-1.30
.46
3.31
2.18
-.52
-1.83

-0.35
-.34
-1.10
.43
2.42
.21
-.09
-1.79

-0.40
.73
-1.24
.77
2.60
2.72
-.53
-1.67

-0.76
.36
-.88
2.33
2.25
1.80
-2.18
-1.19

-0.50
.21
-.41
3.91
.97
.65
-2.25
-1.00

-0.01
-.27
-.30
2.18
.80
.85
-3.49
.30

-0.49
-.44
.34
1.97
1.32
-.56
-2.54
1.31

-0.04
-.61
.43
1.12
.81
-.65
-1.85
-.82

.26
1.29
.45
-.48
-1.94
-.06

-0.26
-.93
.45
4.35
.85
.45
-2.21

-0.39
.13
-1.21
.55
2.78
1.70
-.38
-1.76

-0.42
.10
-.53
2.81
1.34
1.10
-2.64
-.63

-0.16
-.64
.34
1.46
.86
-.56
-2.11
.14

-0.16
-.58
1.32
2.33
.77
-1.17
-1.12

1955
1956
1957
1958
1959
1960
1961
1962
1963
1964

78
1.31
-.25
-2.39
73
-1.54
-.34
40
93
1.07

.62
.23
-.02
-1.12
1.45
-.86
.17
.62
1.04
.71

1.19
.41
-.87
-.51
.89
-1.24
-.31
-.48
1.36
.78

.36
1.22

.34
.55
-.64
-.34
-.40
-.61
.16
-.39
.84
1.13

.56
.26
-1.25
.22
.24
-.26
.09
-.16
-.14
1.21

.81
1.48
-1.73
.14
-.03
-.43
.41
.03
0
1.59

.65
1.90
-1.70
0
.11
.45
.43
-.42
.11
.61

1.18
.12
-1.41
-.26
1.16
.32
.15
.55
.59
1.15

1.47
-.16
-1.91
.10
.81
-.83
.04
.48
.06
1.19

1.16
.25
-1.45
.78
-.02
-.40
.33
.13
.21
.88

1.87
.07
-1.44
-.08
-.57
-.30
.57
1.54
-.16
1.02

.86
.65
-.38
-1.34
1.02
-1.21
-.16
.18
1.11
.85

.42
.68
-.92
-.32
.12
-.65
.14
-.44
.43
1.06

.88
1.17
-1.61
-.04
.41
.11
.33
.05
.23
1.12

1.50
.05
-1.60
.27
.07
-.51
.31
.72
.04
1.03

.92
.64
-1.13
-.36
.41
-.56
.16
.13
.45
1.02

1965
1966
1967
1968
1969
1970
1971
1972
1973
1974

1.00
1.82
-.06
0
18
-.82
1.18
37
2.69
4.12

1.18
1.84
.28
.26
.66
-1.07
.88
.67
3.10
3.91

.84
2.43
-.43
1.60
.75
-.89
-.02
.43
4.27
3.19

1.76
.16
.32
2.32
-1.27
-.55
.35
3.67
3.12

.88
1.51
1.06
-.35
1.08
-.89
-1.27
1.04
3.65
5.12

.92
2.14
1.57
-.14
-.02
-.82
-1.38
.99
3.06
3.88

.79
1.78
.63
-1.19
-.04
-1.00
-.76
.63
2.04
4.34

.75
1.08
.36
.74
-.25
-1.39
-.05
.74
2.87
5.61

1.42
2.38
.31
1.18
.78
-.68
.95
2.39
3.13
2.86

1.31
.73
1.01
1.50
-.11
-1.32
.32
1.21
3.56
-1.03

1.33
.47
.46
.44
.02
-.19
.72
1.50
4.18
-.84

1.45
.31
1.08
1.00
-.06
.66
.53
2.28
2.93
-2.60

1.01
2.03
-.07
.62
.53
-.93
.68
.49
3.35
3.74

.90
1.80
.93
-.06
1.13
-.99
-1.07
.79
3.46
4.04

.99
1.75
.43
.24
.16
-1.02
.05
1.25
2.68
4.27

1.36
.50
.85
.98
-.05
-.28
.52
1.66
3.56
-1.49

1.06
1.52
.54
.45
.44
-.81
.05
1.05
3.26
2.64

1975
1976
1977
1978
1979
1980
1981
1982

-2.64
-1.43
1.63
2.44
5.28
3.98
1.13
23

-2.73
-.15
.58
3.12
7.49
3.01
.93
-1.17

-3.31
1.00
.38
4.52
6.71
1.14
-.30
-.55

-2.68
.94
1.62
3.89
5.18
.24
1.92
-1.07

-1.79
.66
1.31
5.24
2.62
-2.55
2.37
-3.33

-2.24
.70
2.36
4.55
4.70
-.03
.86
-3.04

.03
1.71
.95
3.39
.92
3.35
.84
-3.29

-.80
-.44
1.74
4.68
.68
1.79
-.32
-4.28

-.89
1.00
2.01
5.02
2.51
2.81
-.67
-4.07

-1.54
1.58
3.47
7.64
1.29
2.53
-3.33
-1.74

-.13
1.00
2.59
6.67
2.24
1.43
-1.84
-1.94

-.93
1.69
4.37
4.01
2.25
3.27
-3.43
2.68

-2.89

-2.24
.77
1.76
4.56
4.17
-.78
1.72
-2.48

-.55
.76
1.57
4.36
1.37
2.65
-.05
-3.88

-.87
1.42
3.48
6.11
1.93
2.41
-2.87
-.33

-1.64
.69
1.92
4.60
3.49
1.75
-.15
-1.80

7.88
16.81
13.63
13.08
11.08
10.31

9.62
8.39
15.44
14.06
12.55
10.13
10.83

40.68
31.67
53.63
61.80
51.63
48.36
40.28

25. Change in manufacturers' unfiled orders, durable goods industries
[Biions of dolars]

.52
-1.07
.18
-.78
.60

Average for period

3.36
6.49
2.71
.59
-.50

27. Manufacturers' new orders in 1972 dolars, nondefense capital goods industries
[mom of dolars]

1947
1948
1949
1950
1951
1952
1953
1954

Total for period

"Hi

3.19
2.56
3.04
6.08
4.30
5.07
3.38

3.57
2.77
3.27
6.13
4.43
4.79
3.53

3.58
2.74
3.27
5.78
4.51
4.50
2.95

3.98
2.30
3.40
5.68
4.36
4.70
3.11

3.22
2.45
4.29
5.40
4.00
4.45
3.05

3.82
2.58
4.11
5.04
4.40
3.64
3.12

3.32
2.41
4.97
4.84
4.66
3.99
3.32

3.19
2.58
6.15
4.64
4.08
3.51
3.30

3.19
2.89
5.69
4.15
4.34
3.58
3.69

3.18
2.74
5.07
4.72
4.34
3.42
3.67

3.20
2.88
4.96
4.68
3.89
3.38
3.47

3.24
2.77
5.41
4.66
4.32
3.33
3.69

10.34
8.07
9.58
17.99
13.24
14.36
9.86

11.02
7.33
11.80
16.12
12.76
12.79
9.28

1955
1956
1957
1958
1959
1960
1961
1962
1963
1964

3.94
4.82
4.80
3.56
4.05
4.12
4.14
4.63
4.85
5.93

4.31
4.48
4.77
3.37
4.17
4.26
4.16
4.95
4.99
5.28

4.90
4.70
4.54
3.45
4.71
4.20
4.16
4.41
5.07
5.66

4.30
4.88
4.18
3.49
4.28
4.36
4.13
4.82
5.08
5.56

4.32
5.12
4.20
3.51
4.47
4.36
4.03
4.55
5.28
6.17

4.59
5.15
4.04
3.54
4.56
4.34
4.25
4.49
5.02
6.34

4.49
4.73
4.01
3.56
4.58
4.20
4.45
4.53
5.06
5.83

4.74
4.80
4.05
3.82
4.22
4.20
4.67
4.52
5.23
5.89

4.63
4.73
3.80
3.99
4.59
4.16
4.41
4.63
5.31
5.86

4.74
4.76
3.69
3.86
4.43
4.07
4.45
4.69
5.33
6.00

4.94
5.25
3.64
4.00
4.14
3.94
4.60
5.05
5.19
6.06

5.09
5.00
3.38
3.82
4.47
4.34
4.37
4.76
5.41
6.20

13.15
14.00
14.11
10.38
12.93
12.58
12.46
13.99
14.91
16.87

13.21
15.15
12.42
10.54
13.31
13.06
12.41
13.86
15.38
18.07

13.86
14.26
11.86
11.37
13.39
12.56
13.53
13.68
15.60
17.58

14.77
15.01
10.71
11.68
13.04
12.35
13.42
14.50
15.93
18.26

54.99
58.42
49.10
43.97
52.67
50.55
51.82
56.03
61.82
70.78

1965
1966
1967
1968
1969
1970
1971
1972
1973
1974

6.15
7.04
6.21
7.82
7.71
7.75
7.04
7.38
9.38
11.44

6.04
7.68
6.56
7.76
8.98
7.62
7.56
8.13
9.88
11.60

6.55
7.54
6.61
9.74
8.34
7.27
7.52
8.45
10.17
11.76

6.46
7.74
6.68
8.36
9.93
6.71
7.40
8.25
10.44
11.39

6.28
7.76
6.81
6.94
8.54
7.23
7.38
9.17
10.61
11.10

6.48
7.64
7.01
6.78
8.36
6.74
8.35
7.94
10.21
10.73

6.60
7.99
7.14
7.97
8.21
7.02
6.83
8.89
10.64
12.10

6.42
7.44
7.28
7.57
8.28
6.70
7.22
8.28
10.41
11.09

6.64
7.79
6.93
7.22
9.38
6.95
8.16
9.26
10.77
10.91

6.84
7.60
6.98
8.68
7.99
6.46
7.38
8.95
11.55
9.63

6.96
7.27
7.06
7.59
8.36
7.05
7.90
9.26
11.76
9.38

7.44
7.30
7.41
8.20
7.80
7.73
8.28
9.39
11.46
9.03

18.74
22.26
19.38
25.32
25.03
22.64
22.12
23.96
29.43
34.80

19.22
23.14
20.50
22.08
26.83
20.68
23.13
25.36
31.26
33.22

19.66
23.22
21.35
22.76
25.87
20.67
22.21
26.43
31.82
34.10

21.24
22.17
21.45
24.47
24.15
21.24
23.56
27.60
34.77
28.04

78.86
90.79
82.68
94.63
101.88
85.23
91.02
103.35
127.28
130.16

1975
1976
1977
1978
1979
1980
1981
1982

9.12
8.24
9.74
10.52
12.88
14.26
13.00
11.14

8.26
8.54
9.56
11.56
14.72
13.07
11.92
11.45

7.82
8.35
9.54
11.23
16.48
12.36
12.33
11.30

8.40
9.08
9.94
11.87
13.25
12.81
13.16
12.59

8.18
8.94
10.14
12.29
13.23
11.47
12.52
10.23

7.95
8.87
10.71
11.89
13.80
12.74
12.58
9.86

8.46
10.01
9.92
11.98
12.74
13.75
12.00
9.84

8.29
9.14
10.24
12.72
12.86
11.92
12.77
9.47

8.08
9.36
10.78
13.24
13.20
12.82
12.70
10.36

8.15
9.76
10.91
14.06
13.07
12.11
11.68
10.53

8.35
9.25
10.73
13.59
14.08
12.66
12.96
9.94

7.86
9.81
11.10
12.07
13.49
13.28
10.92
10.75

25.20
25.13
28.84
33.31
44.08
39.69
37.25
33.89

24.53
26.89
30.79
36.05
40.28
37.02
38.26
32.68

24.83
28.51
30.94
37.94
38.80
38.49
37.47
29.67

24.36
28.82
32.74
39.72
40.64
38.05
35.56
31.22

98.92
109.35
123.31
147.02
163.80
153.25
148.54
127.46

See footnotes at end of this part.




77

Year

Feb.

Jan.

Mar.

May

Apr.

Monthly
June
July

Aug.

Sept.

Oct.

Nov.

Dec.

28. New private housinf units started
[Annua) rate, thousands]

1 IQ

Quarterly
IIQ
1110

Annual

IV Q

Average for period

1947
1948
1949
1950
1951
1952
1953
1954

1,052
1,385
1,196
1,883
1,928
1,388
1,484
1,358

1,074
1,200
1,137
1,834
1,638
1,516
1,460
1,417

1,032
1,379
1,171
1,976
1,481
1,483
1,506
1,411

1,039
1,501
1,292
1,945
1,352
1,412
1,498
1,433

1,090
1,450
1,319
2,052
1,359
1,408
1,425
1,412

1,174
1,441
1,341
2,042
1,419
1,353
1,380
1,498

1,252
1,419
1,384
2,051
1,257
1,438
1,346
1,559

1,355
1,329
1,500
2,121
1,334
1,443
1,324
1,563

1,532
1,303
1,603
1,821
1,456
1,483
1,348
1,618

1,571
1,190
1,662
1,605
1,386
1,513
1,342
1,610

1,557
1,196
1,785
1,561
1,324
1,475
1,383
1,730

1,447
1,218
1,824
1,900
1,330
1,476
1,343
1,807

1,053
1,321
1,168
1,898
1,682
1,462
1,483
1,395

1,101
1,464
1,317
2,013
1,377
1,391
1,434
1,448

1,380
1,350
1,4%
1,998
1,349
1,455
1,339
1,580

1,525
1,201
1,757
1,689
1,347
1,488
1,356
1,716

1,265
1,344
1,430
1,908
1,420
1,446
1,402
1,532

1955
1956
1957
1958
1959
1960
1961
1962
1963
1964

1,757
1,441
1,151
1,170
1,657
1,460
1,183
1,361
1,244
1,603

1,664
1,444
1,168
1,107
1,667
1,503
1,226
1,278
1,456
1,820

1,684
1,401
1,173
1,108
1,620
1,109
1,312
1,443
1,534
1,517

1,708
1,408
1,147
1,154
1,590
1,289
1,166
1,524
1,689
1,448

1,730
1,375
1,174
1,191
1,498
1,271
1,228
1,483
1,641
1,467

1,704
1,325
1,175
1,236
1,503
1,247
1,382
1,404
1,588
1,550

1,632
1,289
1,191
1,337
1,547
1,197
1,335
1,450
1,614
1,562

1,625
1,313
1,193
1,374
1,430
1,344
1,312
1,517
1,639
1,569

1,580
1,234
1,191
1,451
1,540
1,097
1,429
1,324
1,763
1,455

1,490
1,266
1,204
1,472
1,355
1,246
1,415
1,533
1,779
1,524

1,434
1,212
1,162
1,593
1,416
1,246
1,385
1,622
1,622
1,486

1,431
1,184
1,146
1,598
1,601
1,063
1,365
1,564
1,491
1,484

1,702
1,429
1,164
1,128
1,648
1,357
1,240
1,361
1,411
1,647

1,714
1,369
1,165
1,194
1,530
1,269
1,259
1,470
1,639
1,488

1,612
1,279
1,192
1,387
1,506
1,213
1,359
1,430
1,672
1,529

1,452
1,221
1,171
1,554
1,457
1,185
1,388
1,573
1,631
1,498

1,627
1,325
1,175
1,314
1,517
1,252
1,313
1,463
1,603
1,529

1965
1966
1967
1968
1969
1970
1971
1972
1973
1974

1,361
1,370
1,067
1,380
1,769
1,085
1,828
2,494
2,481
1,451

1,433
1,378
1,123
1,520
1,705
1,305
1,741
2,390
2,289
1,752

1,423
1,394
1,056
1,466
1,561
1,319
1,910
2,334
2,365
1,555

1,438
1,352
1,091
1,554
1,524
1,264
1,986
2,249
2,084
1,607

1,478
1,265
1,304
1,408
1,583
1,290
2,049
2,221
2,266
1,426

1,488
1,194
1,248
1,405
1,528
1,385
2,026
2,254
2,067
1,513

1,529
1,086
1,364
1,512
1,368
1,517
2,083
2,252
2,123
1,316

1,432
1,119
1,407
1,495
1,358
1,399
2,158
2,382
2,051
1,142

1,482
1,046
1,421
1,556
1,507
1,534
2,041
2,481
1,874
1,150

1,452

1,460

1,656

961

990

1,538
1,630
1,229
1,647
2,182
2,421
1,724
1,026

1,308
1,548
1,327
1,893
2,295
2,366
1,526

1,406
1,381
1,082
1,455
1,678
1,236
1,826
2,406
2,378
1,586

1,468
1,270
1,214
1,456
1,545
1,313
2,020
2,241
2,139
1,515

1,481
1,084
1,397
1,521
1,411
1,483
2,094
2,372
2,016
1,203

1,523

843
1,491
1,569
1,381
1,580
2,128
2,485
1,677
1,070

1,446
1,582
1,312
1,707
2,202
2,424
1,642
1,024

1,473
1,165
1,292
1,508
1,467
1,434
2,052
2,357
2,045
1,338

1975
1976
1977
1978
1979
1980
1981
1982

1,032
1,367
1,527
1,718
1,630
1,341
1,588

904

993
1,421
2,063
2,032
1,847
1,047
1,305

1,121
1,459
1,971
2,075
1,876

1,087
1,495
1,893
2,070
1,913
1,196
1,047

1,260
1,550
2,020
1,996
1,778
1,436

1,264
1,720
1,949
1,970
1,832
1,471

1,344
1,629
2,042
1,981
1,681
1,523

1,360
1,641
2,042
2,094
1,524
1,510

1,321
1,804
2,142
2,044
1,498
1,482

1,071
1,450
1,919
2,114
1,846
1,058
1,176

1,250
1,557
2,009
2,019
1,790
1,392

1,342
1,691
2,075
2,040
1,568
1,505

961

870

877

911

920

911

1,226
1,401
2,058
2,092
1,760
1,269
1,035
1,185

976

1,538
1,943
1,738
1,520
1,350
1,279

1,005
1,395
1,892
2,197
1,748
1,051
1,332

1,122

1,261

1,160
1,538
1,987
2,020
1,745
1,292
1,087
1,061

927
1,150
1,028

910

975

949

900

866

839

906

1,442
1,844
1,829
1,666
1,246
1,391

1,046

1,134

1,142

1,361

1,280

903

950

29. Index of new private housing units authorized by local buMhg permits
[1967=100]

931

Average for period

1947
1948
1949
1950
1951
1952
1953
1954

80.1
109.4
80.4
157.4
146.3
99.6
104.9
101.9

85.8
100.4
81.9
159.2
114.8
115.3
110.7
100.4

83.9
104.0
86.8
159.1
104.5
105.5
111.6
105.8

77.5
116.5
96.6
161.9
96.9
103.5
106.2
106.9

80.5
106.7
104.2
161.3
99.3
101.2
106.4
108.8

91.6
103.1
106.4
160.7
96.9
101.6
103.5
116.9

96.6
102.2
110.2
182.8
92.9
107.9
99.9
119.9

108.1
94.8
112.3
158.2
94.8
107.6
98.4
118.9

111.2
84.8
136.2
133.7
122.2
115.5
94.6
121.9

118.2
89.4
135.6
126.2
93.2
116.8
99.6
126.2

117.5
86.2
141.9
123.6
90.9
117.2
100.1
135.9

117.4
82.8
146.6
158.6
94.1
108.3
102.4
132.1

83.3
104.6
83.0
158.6
121.9
106.8
109.1
102.7

83.2
108.8
102.4
161.3
97.7
102.1
105.4
110.9

105.3
93.9
119.6
158.2
103.3
110.3
97.6
120.2

117.7
86.1
141.4
136.1
92.7
114.1
100.7
131.4

97.4
98.4
111.6
153.6
103.9
108.3
103.2
116.3

1955
1956
1957
1958
1959
1960
1961
1962
1963
1964

136.4
109.8
86.5
91.5
114.7
102.7
91.2
105.5
113.0
117.4

151.0
106.8
90.9
.78.7
119.6
102.3
90.4
112.3
109.7
130.6

129.3
109.8
91.7
87.2
125.0
89.8
94.0
106.7
113.9
118.8

132.9
109.5
86.7
91.9
119.4
95.6
94.2
116.2
116.6
114.5

133.6
101.9
90.5
96.2
117.4
98.9
96.6
107.4
122.2
117.6

126.2
100.1
92.5
102.7
115.5
90.1
100.6
108.5
121.8
115.8

126.7
99.4
86.2
111.9
112.6
93.9
101.9
111.9
119.6
118.1

122.2
97.0
92.1
111.7
113.7
93.5
109.0
112.8
118.6
118.3

120.4
94.5
92.4
114.5
109.5
92.6
103.2
114.9
127.9
114.5

117.9
93.1
91.1
118.2
105.3
91.4
105.6
111.1
128.1
111.5

107.5
93.7
88.5
134.1
100.7
92.1
108.3
116.2
122.9
113.5

107.0
92.8
89.3
115.8
108.2
89.3
109.2
116.2
128.8
105.3

138.9
108.8
89.7
85.8
119.8
98.3
91.9
108.2
112.2
122.3

130.9
103.8
89.9
96.9
117.4
94.9
97.1
110.7
120.2
116.0

123.1
97.0
90.2
112.7
111.9
93.3
104.7
113.2
122.0
117.0

110.8
93.2
89.6
122.7
104.7
90.9
107.7
114.5
126.6
110.1

125.9
100.7
89.9
104.5
113.5
94.4
100.4
111.6
120.3
116.3

1965
1966
1967
1968
1969
1970
1971
1972
1973
1974

114.5
120.0
87.2
103.3
127.9
93.1
144.0
192.9
195.7
114.7

107.3
104.9
79.5
117.6
131.0
98.0
139.2
186.9
191.8
117.2

109.6
111.8
83.7
120.0
126.0
99.2
154.2
181.4
177.7
124.1

105.2
103.7
90.8
112.8
126.3
107.3
153.0
184.3
164.5
108.1

109.3
97.7
94.3
113.7
116.5
116.5
172.9
178.1
166.4
98.1

112.4
86.6
102.5
114.0
118.3
115.8
166.8
188.1
176.7
93.6

112.0
84.4
103.2
117.9
112.0
116.1
181.3
189.2
156.8
86.3

113.1
79.4
107.8
118.9
115.4
122.2
175.7
195.1
155.9
79.0

111.1
70.2
112.1
128.4
110.7
125.0
175.0
206.2
146.8
72.4

115.8
66.9
112.2
124.6
106.6
137.2
177.5
202.9
121.6
71.0

118.3
66.6
113.7
125.8
104.4
131.7
182.2
192.6
120.8
67.4

119.1
67.2
115.3
121.8
101.3
154.8
186.9
208.5
111.0
74.9

110.5
112.2
83.5
113.6
128.3
96.8
145.8
187.1
188.4
118.7

109.0
96.0
95.9
113.5
120.4
113.2
164.2
183.5
169.2
99.9

112.1
78.0
107.7
121.7
112.7
121.1
177.3
196.8
153.2
79.2

117.7
66.9
113.7
124.1
104.1
141.2
182.2
201.3
117.8
71.1

112.3
88.3
100.2
118.2
116.4
118.1
167.4
192.2
157.1
92.2

1975
1976
1977
1978
1979
1980
1981
1982

62.6
103.0
124.6
140.5
118.0
103.4
98.6
64.6

62.8
102.6
134.5
140.2
120.5
96.8
96.8
66.2

61.1
100.3
143.1
145.3
138.9
79.8
95.6
71.3

74.6
97.6
143.1
157.4
129.0
65.3
96.1
71.1

78.8
102.9
143.8
142.6
136.0
69.5
94.7
76.8

81.5
102.4
151.0
160.2
132.5
90.3
78.8
74.6

87.9
107.3
145.4
144.3
123.9
101.7
75.5
86.0

85.7
112.8
153.4
136.6
128.5
110.4
71.8
75.0

91.7
127.6
144.3
141.4
132.3
119.9
68.4
83.1

94.4
122.8
151.5
143.9
119.6
110.3
59.0
93.2

95.6
132.0
152.7
145.0
103.1
111.7
60.4
99.1

94.0
130.2
151.2
146.8
101.3
100.9
64.3
107.1

62.2
102.0
134.1
142.0
125.8
93.3
97.0
67.4

78.3
101.0
146.0
153.4
132.5
75.0
89.9
74.2

88.4
115.9
147.7
140.8
128.2
110.7
71.9
81.4

94.7
128.3
151.8
145.2
108.0
107.6
61.2
99.8

80.9
111.8
144.9
145.4
123.6
96.7
80.0
80.7

31. Change in manufacturing and trade inventories, book value
[Annual rate, bSons of dolars]
1947
1948
1949
1950
1951
1952
1953
1954
1955
1956
1957
1958
1959
1960
1961
1962
1963
1964

9.6
1.9

8.6
.3
-.3

7.1

4.5

2.0

9.0

-3.1

-7.8

-6.5

-5.5

5.3

3.6

8.3

18.4

16.6
-2.2

14.5
-4.5

5.1

Average for period

5.2
1.0

11.4
-4.4
-3.2

-2.9
21.9

17.8

5.4

5.2

.1

-3.0

5.0

3.0

-4.0
20.0

-5.5
24.0

-0.9
-7.2
17.4

2.5
5.8

3.2
3.7

-7.1

-3.4

4.2

-.3
7.3
4.4
.8
6.5

5.7

17.8
-1.1

-1.0

10.8

2.2

-.2
5.4

2.8
9.3

19.6
-4.7

8.7

3.9

7.3
9.4
2.2
5.7

9.5

2.8

-3.5

-3.8

-4.6

-3.8

-4.6

-4.2

-5.4

2.6
-.9

-5.0
-3.8

3.2

7.6
5.1
1.9

.8
13.1

6.0
8.0
-.1

8.0
6.4
.9

6.6
5.7
3.0

8.9
5.4
7.0

-6.8

-1.7
10.8

-2.4

-1.8

5.0
8.0
5.6
4.3

1.9

-4.8

-2.1

1.9
4.9
8.7
6.7

29.2

4.5
9.1
6.6
-16.5

.5
9.5

12.7

2.4
2.9
3.7

-5.7

5.3
9.2

3.7
-9.5
14.2

5.9
5.6
5.6

8.4
4.5
2.4
4.6
5.3
2.7

18.9

10.3
20.5

12.5
16.0

5.2

3.0

16.1
16.7

10.0
11.7
12.8

5.9
6.0
14.4
14.7

6.1
6.8
.9
9.0
5.4
4.7

-3.5

12.5
-2.6

-6.4

7.0
2.2
6.5

7.0
3.7
4.5

7.8
2.7
5.1

.2
.1
1.8
1.2
6.9

6.4

15.4
14.2

7.4

8.2

17.7

12.2

7.1
9.6

8.9
6.8

6.6

15.7

10.2

16.1
12.7
11.5

14.5
12.2
15.2
12.2
15.2
26.7
34.7
29.1
40.8
62.9
70.2
84.4
23.1
35.2

11.5
10.2
12.9
11.3
11.0

1965
1966
1967
1968
1969
1970
1971
1972
1973
1974

7.0

7.7

32.2
43.1

28.9
38.8

15.3
10.2
28.0
51.9

1975
1976
1977
1978
1979
1980
1981
1982

13.6
20.8
28.5
36.2
58.4
58.8
38.6
-30.1

-8.4
27.4
33.4
39.5
58.2
61.1
61.4
-28.3

-11.7
26.5
35.7
61.6
42.4
52.5
20.7
-10.2

.5

78



8.1

-.9

-.5

2.5
-1.1

5.4
5.8
5.8
4.7
12.0
17.2
12.3
15.1
13.9
12.3
13.2
24.8
24.0
46.7

13.6
20.4
34.9
57.3

5.4
7.6

9.0
7.6

32.0
58.9

26.6
60.4

-13.7
30.2
26.9
42.3
55.2
33.6
44.3
-51.0

-5.5
48.7
23.3
39.4
54.8
20.1
37.6
23.1

31.7
20.1
34.0
83.8
32.3
27.6

14.5
19.6
37.0
46.5
42.2
37.0
53.8

1.3

1.3

6.1

13.9

11.3

7.0

5.0
-8.6

10.7
-2.1

3.8
3.5

-1.1

-1.0

1.9
6.2
9.1
-.2

3.5
.6
7.3
.5
4.9
9.0

11.9
-13.6

1.2
1.3
.5
8.9

5.2

7.2

2.4

2.3
2.3

-6.6

-2.1
12.2

-5.6
20.5

21.8

13.5
-1.5

2.8
6.3
-5.2

2.1
3.7

0

-2.9

8.5
6.7

6.4
7.8
1.8

6.4
6.1

3.6
2.3
5.0

-4.0

-4.3

-3.5

5.1
9.0
3.6

4.9
9.2
1.5

-6.4

-6.0
10.4

6.8
6.4
5.2
0
1.8
1.4
4.2
6.4
5.9
7.1

1.5
9.1

3.2

-1.9

5.0
2.6
.9
5.5
4.4
6.0

7.3
2.9
5.4
11.1
14.0

8.6

9.8

8.2

9.4

17.2

15.7

16.6

15.9

4.9

8.4

9.1

8.0

13.5
13.5

10.5
11.8

10.9
13.6

4.8

5.7

9.1

9.7

18.6

6.9

.1

17.0
13.8

14.2
13.4

10.1
16.5

15.3
13.7

8.0
8.4

8.1

9.6
9.2

13.4

14.3

2.1
5.5

7.1

9.2

14.9
16.1
53.9
57.7

12.3

15.3
23.8
62.1

10.0
-1.0
18.8
40.4
54.5

3.0

12.5
19.4
24.0
64.7

10.4
14.4
31.2
50.3

10.4
14.9
11.6
11.6
17.3
24.9
57.3

16.6
49.9
46.5
42.7
17.7
31.8
46.9
-3.1

18.1
24.6
20.2
53.5
60.4
30.4
21.3
-14.4

-2.5
25.6
37.2
55.0
33.6
24.0
35.9
-70.9

28.0
40.1
60.6
45.4
39.7
-12.1
-23.4

-6.7
36.0
30.3
48.2
60.1
46.0
35.0

12.4
33.7
34.5
41.1
47.9
33.7
42.8

2.4

-.2

4.6

4.6
4.8

3.2
0
5.6
4.1
5.7

10.4
-4.2

13.8

7.7

-3.3

-3.0
10.3
10.4

8.3
29.7
44.6
-2.2
24.9
32.5
45.8
53.0
57.5
40.2
-22.9

-4.7

3.5
2.7
4.8
5.9

5.0
6.5
16.7
39.4
58.1

8.2
10.2
14.2
31.3
52.6

6.7

2.6

26.1
32.5
56.4
46.5
31.4
15.0
-36.2

30.2
32.5
47.8
51.9
42.1
33.3
-14.2

Year

Quarterly

Monthly

Jan.

Feb.

Mar.

Apr.

May

June

July

Aug.

32. Vendor performance, percent of companies receiving slower deliveries
[Percent]

Sept.

Oct.

Nov.

Dec.

11Q

IQ

<S>

1IIQ

IV Q

Annual

1947
1948
1949
1950...,
1951
1952
1953
1954

37
35
16
54
84
28
37
21

42
34
12
62
85
22
37
24

34
26
10
60
74
18
40
27

25
36
14
60
58
19
38
30

20
31
12
66
46
23
36
35

24
30
12
64
38
34
34
36

22
36
22
88
34
50
30
40

25
36
38
94
38
47
30
41

30
38
53
96
50
46
25
47

31
38
60
88
50
46
22
53

38
32
58
87
34
44
20
52

41
17
50
84
31
40
20
50

38
32
13
59
81
23
38
24

23
32
13
63
47
25
36
34

Average for period
26
37
38
93
41
48
28
43

37
29
56
86
38
43
21
52

31
32
30
75
52
35
31
38

1955
1956
1957
1958
1959
1960
1961
1962
1963
1964

54
48
33
28
58
44
38
56
50
55

60
46
28
28
62
30
40
56
52
54

66
49
25
32
62
27
40
55
54
60

71
50
28
34
62
28
47
48
60
60

70
39
30
38
62
32
48
46
58
63

65
40
29
38
62
34
48
42
54
55

70
56
38
44
60
36
49
44
42
59

72
52
34
49
62
40
52
44
48
65

72
47
32
57
64
41
55
48
52
74

72
44
36
58
64
39
55
48
48
72

66
46
29
58
56
38
51
48
48
70

56
36
25
52
50
38
53
48
46
66

29
29
61
34
39
56
52
56

69
43
29
37
62
31
48
45
57
59

71
52
35
50
62
39
52
45
47
66

65
42
30
56
57
38
53
48
47
69

66
46
31
43
60
36
48
49
51
63

1965
1966
1967
1968
1969
1970
1971
1972
1973
1974

68
74
48
50
62
56
38
52
78
85

72
85
51
55
61
58
44
52
84
88

38
54
61
50
46
58

39
52
68
52
52
58
90
84

70
75
36
52
69
72
53
60
92
79

66
69
38
52
70
69
50
60
89
76

62
70
41
56
66
50
48
63

64
73
43
46
68
45
49
63

62
72
44
46
66
45
48
65
90
52

60
70
50
52
65
38
50
73
90
46

66
64
51
60
62
36
48
70
91
32

72
57
48
56
64
36
51
77

69
82
46
53
61
55
43
54
83
87

69
75
38
52
69
64
52
59
90
80

63
72
43
49
67
47
48
64
89
64

66
64
50
56
64
37
50
73
90
33

67
73
44
53
65
51
48
63

1975
1976
1977
1978
1979
1980
1981
1982

18
42
44
55
69
48
46
32

16
50
55
64
77
42
50
36

44
60
56
66
51
39
43
40

45
50
56
68
50
44
38
44

44
48
50
66
47
45
32
40

17
48
52
62
75
45
49
34

24
59
57
65
74
33
52
33

37
61
58
62
55
35
46
39

43
48
54
67
49
45
33
41

30
54
55
64
63
40
45
37

17
22
24
26
30
36
52
58
58
62
60
64
56
58
56
58
59
58
67
64
64
66
56
65
78
76
76
70
60
55
45
40
32
28
32
34
52
56
52
48
46
48
35
31
30
38
37
40
33. Net change in mortgage debt held byfinancialinstitutions and ife insurance
[Annual rate, bMons of doiars]

45
56
68
49
47
30
38

Average for period

1947
1948
1949
1950
1951
1952
1953
1954
1955
1956
1957
1958
1959
1960
1961
1962
1963
1964

14.40
12.24
10.03
8.88
13.14
12.73
12.12
15.82
19.68
19.19

12.72
12.72
9.90
8.70
14.24
13.26
11.74
17.00
18.98
23.45

13.38
12.32
9.72
9.25
14.60
12.13
12.06
16.79
19.54
21.86

13.70
12.64
8.58
7.14
15.32
12.32
13.36
17.33
20.45
21.17

14.16
11.80
7.94
9.67
16.07
11.72
12.84
17.68
21.38
21.61

14.29
11.68
8.50
9.05
15.88
11.78
13.85
17.76
21.52
20.94

13.99
11.81
8.03
9.64
20.63
12.08
13.86
17.47
21.80
22.13

12.96
10.69
8.57
10.81
14.75
12.73
14.22
17.76
22.64
21.00

12.25
10.94
8.56
11.69
14.21
11.65
14.89
18.68
21.85
21.48

7.92
10.42
7.97
13.12
13.08
12.10
15.43
20.54
22.70
21.47

11.44
10.58
8.27
14.54
13.13
10.98
16.56
19.46
20.62
21.67

11.50
10.38
8.11
13.82
11.54
10.63
16.82
19.93
22.67
21.64

13.50
12.43
9.88
8.94
13.99
12.71
11.97
16.54
19.40
21.50

14.05
12.04
8.34
8.62
15.76
11.94
13.35
17.59
21.12
21.24

13.07
11.15
8.39
10.71
16.53
12.15
14.32
17.97
22.10
21.54

10.29
10.46
8.12
13.83
12.58
11.24
16.27
19.98
22.00
21.59

12.73
11.52
8.68
10.53
14.72
12.01
13.98
18.02
21.15
21.47

1965
1966
1967
1968
1969
1970
1971
1972
1973
1974

21.11
25.33
10.22
21.41
22.97
21.28
28.37
44.05
50.88
37.34

19.30
22.25
12.20
19.67
25.16
18.98
28.55
43.06
50.35
41.34

21.10
22.38
11.28
21.14
22.45
15.82
30.22
45.49
53.64
43.06

20.06
21.40
13.42
20.04
23.45
16.04
30.46
44.22
50.75
46.06

20.88
17.32
15.28
21.72
19.56
17.15
32.14
45.50
50.40
43.99

21.74
13.31
16.70
17.59
19.96
16.91
36.02
46.31
54.35
38.24

21.92
14.09
17.70
16.61
15.55
18.16
39.49
42.05
52.82
39.50

21.32
11.62
21.07
17.26
18.83
17.66
39.98
51.14
52.96
33.66

21.71
10.63
20.66
17.82
19.30
22.02
40.33
49.80
43.07
30.82

21.01
10.91
19.57
20.28
18.66
24.65
39.82
50.10
38.10
27.02

21.67
8.89
21.10
21.41
20.05
21.74
41.18
54.52
39.04
25.42

21.77
6.92
19.39
23.88
11.93
24.67
44.29
58.92
33.64
22.01

20.50
23.32
11.23
20.74
23.53
18.69
29.05
44.20
51.62
40.58

20.89
17.34
15.13
19.78
20.99
16.70
32.87
45.34
51.83
42.76

21.65
12.11
19.81
17.23
17.89
19.28
39.93
47.66
49.62
34.66

21.48
8.91
20.02
21.86
16.88
23.69
41.76
54.51
36.93
24.82

21.13
15.42
16.55
19.90
19.82
19.59
35.90
47.93
47.50
35.70

1975
1976
1977
1978
1979
1980
1981
1982

31.60
53.68
57.41
83.04
98.74
95.30
55.82
22.08

31.37
53.65
64.09
85.63
83.02
67.63
60.60
16.39

28.82
55.45
68.32
91.27
92.52
79.57
46.93
3.53

30.70
48.80
79.20
89.77
78.34
54.13
54.62
8.75

29.54
42.24
79.57
97.08
97.78
23.42
42.05
3.22

33.49
42.01
87.96
91.64
98.14
14.26
47.48
-9.78

38.90
60.42
81.71
92.28
91.86
48.16
60.85
-5.95

36.76
52.03
83.47
99.61
81.13
62.92
34.20
-7.22

47.76
47.99
93.24
88.56
84.42
71.05
26.76
-10.42

56.87
53.28
85.28
88.93
93.34
82.61
22.79
-48.32

42.66
67.16
86.60
91.09
70.90
73.37
21.66
-9.05

49.45
61.02
93.79
89.53
50.22
65.39
5.14
-47.32

30.60
54.26
63.27
86.65
91.43
80.83
54.45
14.00

31.24
44.35
82.24
92.83
91.42
30.60
48.05
.73

41.14
53.48
86.14
93.48
85.80
60.71
40.60
-7.86

49.66
60.49
88.56
89.85
71.49
73.79
16.53
-34.90

38.16
53.14
80.05
90.70
85.03
61.48
39.91
-7.01

-1.41
3.85
24.40
11.61
5.34
-16.68
-8.83

-6.70
-8.81
15.24
11.55
6.79
-20.11
.93

-3.08
14.41
23.34
8.01
-3.29
-9.88

36. Change in manufacturing and trade inventories on hand and on order in 1972 doiars, monthly data
[Annual rate, bWons of doiars]

1947
1948
1949
1950
1951
1952
1953
1954

Average for period

8.83
5.48
53.11
7.58
49.57
-19.99

-0.56
-4.22
2.51
34.26
-2.09
4.85
-12.13

4.07
-4.39
7.64
36.16
14.88
-.48
-19.21

0.71
-8.30
5.48
33.22
11.30
10.50
-15.53

0.02
-3.70
19.28
31.81
2.11
4.72
-12.79

11.35
-10.36
13.62
22.03
25.94
1.79
-15.17

9.71
.46
10.75
19.10
6.52
-11.28
-15.08

-9.23
1.78
43.79
12.17
-3.30
-18.26
-13.52

-4.72
9.32
18.65
3.55
12.79
-20.50
2.12

-4.97
-6.24
16.38
11.23
9.77
-23.06
2.42

-4.84
-7.61
19.37
11.29
3.23
-21.32

-10.30
-12.59
9.97
12.13
7.37
-15.96
.29

0.07
5.21
41.18
6.79
17.98
-17.11

4.03
-7.45
12.79
29.02
13.12
5.67
-14.50

1955
1956
1957
1958
1959
1960
1961
1962
1963
1964

2.56
11.72
-2.70
-33.08
12.29
-6.47
-9.17
17.12
9.05
14.29

5.12
11.47
-2.90
-19.32
30.05
.37
-6.86
12.08
12.46
7.01

15.80
-.16
-5.78
-13.42
19.80
-9.96
-2.16
5.65
15.88
9.23

-2.84
16.13
1.33
-12.01
16.43
-19.12
6.18
-13.63
10.58
12.84

8.76
7.15
-3.01
-5.03
-1.36
-4.28
8.77
5.23
7.58
8.05

15.59
5.11
-5.05
1.30
5.11
-4.49
6.85
3.30
3.02
15.17

9.77
16.91
-9.70
5.04
13.67
.46
5.65
6.04
5.45
11.92

7.76
10.39
-3.64
.36
11.66
-4.46
9.58
3.02
2.56
6.38

1.12
4.73
-1.81
13.25
11.09
3.65
8.96
8.76
4.09
26.42

13.88
-1.06
-23.74
4.84
13.86
-8.23
5.11
9.53
9.91
11.10

5.34
3.96
-10.52
7.45
2.53
-2.20
15.94
-1.15
6.70
17.36

10.82
.04
-6.25
12.59
11.20
-22.73
15.71
5.71
2.44
18.60

7.83
7.68
-3.79
-21.94
20.71
-5.35
-6.06
11.62
12.46
10.18

7.17
9.46
-2.24
-5.25
6.73
-9.30
7.27
-1.70
7.06
12.02

6.22
10.68
-5.05
6.22
12.14
-.12
8.06
5.94
4.03
14.91

10.01
.98
-13.50
8.29
9.20
-11.05
12.25
4.70
6.35
15.69

7.81
7.20
-6.15
-3.17
12.19
-6.45
5.38
5.14
7.48
13.20

1965
1966
1967
1968
1969
1970
1971
1972
1973
1974

24.46
20.36
17.28
12.54
12.60
-12.60
21.82
10.08
41.87
16.19

16.09
27.13
7.26
6.66
12.43
-.74
13.08
8.03
33.26
17.83

19.68
32.23
3.31
3.92
13.30
-1.76
14.76
8.09
32.93
16.81

2.48
18.31
7.96
9.28
13.10
11.71
-3.12
9.18
26.18
2.35

12.05
24.74
-.38
11.92
16.21
-7.24
-5.50
16.04
28.48
18.16

15.08
26.74
3.04
2.60
11.89
5.66
-10.42
11.03
27.92
27.78

16.37
18.16
12.66
-9.97
16.07
4.56
-9.10
3.01
25.30
-9.65

7.58
18.02
18.78
10.12
8.56
5.16
3.91
28.75
11.11
-15.95

2.17
11.05
7.62
15.34
15.68
-4.31
11.14
27.53
31.79
22.14

8.60
23.68
3.52
17.00
6.80
-7.26
4.12
17.51
21.23
-20.50

13.91
14.34
16.97
15.62
.37
6.13
1.27
20.50
35.64
-8.44

20.86
9.90
25.97
12.31
3.58
3.98
11.11
14.39
33.92
-.50

20.08
26.57
9.28
7.71
12.78
-5.03
16.55
8.73
36.02
16.94

9.87
23.26
3.54
7.93
13.73
3.38
-6.35
12.08
27.53
16.10

8.71
15.74
13.02
5.16
13.44
1.80
1.98
19.76
22.73
-1.15

14.46
15.97
15.49
14.98
3.58
.95
5.50
17.47
30.26
-9.81

13.28
20.39
10.33
8.94
10.88
.27
4.42
14.51
29.14
5.52

1975
1976
1977
1978
1979
1980
1981
1982

-43.93
-.83
12.07
18.23
29.68
-4.31
-12.56
-26.62

-43.12
10.92
13.99
17.94
15.29
-7.04
17.52
-23.18

-21.41
15.17
7.92
34.28
6.47
-2.50
-8.77
-10.81

-38.64
10.87
15.13
32.30
21.54
-.02
-5.57
-4.87

-27.10
10.46
13.39
22.72
7.18
-12.83
25.49
-24.35

-.94
22.57
8.93
14.70
13.19
-26.98
1.01
-7.56

-25.49
-1.55
9.38
10.66
11.64
-7.98
4.67
.37

-4.94
-2.28
21.95
20.39
-2.78
-7.68
4.52
-16.70

16.98
25.63
23.27
18.74
-22.01
-2.23
11.65
-1.50

-19.01
-3.58
3.08
20.41
-1.88
-.58
-9.35
-20.08

-10.79
4.68
17.87
22.06
-16.82
-3.49
2.18
-38.14

12.59
17.12
20.53
29.17
-13.92
-5.63
-20.83
-11.29

-36.15
8.42
11.33
23.48
17.15
-4.62
-1.27
-20.20

-22.23
14.63
12.48
23.24
13.97
-13.28
6.98
-12.26

-4.48
7.27
18.20
16.60
-4.38
-5.96
6.95
-5.94

-5.74
6.07
13.83
23.88
-10.87
-3.23
-9.33
-23.17

-17.15
9.10
13.96
21.80
3.96
-6.77
.83
-15.39

See footnotes at end of this part.




79

Year

Jan.

_Feb.

Mar.

Apr.

May

Monthly
June
July

Aug.

Sept.

1

Oct.

Nov.

Dec.

36. Chance in manufacturing and trade inventories on hand and on order in 1972 dolare, smoothed data
[Annual rate, bBons of dolare]
1947
1948
1949
1950
1951
1952
1953
1954

-4.40
-6.86
21.36
10.94
13.42
-19.60

1955
1956
1957
1958
1959
1960
1961
1962
1963
1964

IQ

Quarterly
III Q

«Q

IV 0

Annual

Average for period

-0.91
1.84
36.81
6.33
19.29
-16.57

-2.78
5.21
37.86
7.41
11.47
-16.37

1.50
-5.55
8.00
34.14
8.73
4.94
-15.73

2.81
-6.46
11.80
31.38
11.27
5.29
-15.17

5.53
-5.99
13.67
26.67
12.32
2.04
-14.42

5.49
-3.62
18.64
21.04
10.62
-5.42
-14.47

23.56
14.69
7.53
-12.96
-11.71

-3.86
2.74
25.34
10.30
5.88
-18.64
-5.91

22.20
8.84
7.51
-21.12
-.73

-5.77
-5.16
16.69
10.12
7.69
-20.87
1.24

-2.44
-2.75
29.38
8.46
17.68
-17.91

-4.93
8.34
34.46
9.14
7.23
-15.76

4.10
-3.01
18.62
20.80
10.16
-5.45
-13.53

-5.07
-.79
21.41
9.75
7.03
-20.21
-1.80

-2.79
11.41
23.60
8.69
-.19
-12.25

95
9.65
71
-15.06
9.54
5.81
-11.21
14.26
4.62
7.08

-2.00
-3.22
29.97
8.10
20.33
-17.56
1.82
10.32
-.71
-18.08
14.54
2.06
-12.14
15.61
6.80
7.86

5.24
9.51
-2.82
-20.74
19.51
-1.83
-9.49
13.29
10.77
9.04

6.93
8.41
-3.12
-18.43
21.40
-7.46
-3.50
6.49
12.72
9.94

6.63
8.43
-2.47
-12.54
16.86
-10.34
1.66
.23
12.16
9.87

7.20
8.59
-2.37
-7.70
9.18
-10.21
5.77
-1.31
9.20
11.03

9.27
9.59
-4.08
-2.40
6.27
-6.03
7.18
1.58
6.20
11.87

11.21
10.26
-6.02
1.34
7.98
-2.80
7.22
4.49
4.51
11.44

8.63
10.74
-5.59
4.23
11.14
-1.47
7.71
5.03
3.86
13.03

6.90
7.68
-7.39
6.18
12.17
-1.56
7.97
6.52
4.78
14.77

7.18
3.62
-10.88
7.33
10.68
-2.64
8.94
6.41
6.21
16.46

8.40
1.76
-12.76
8.40
9.18
-6.66
11.13
5.20
6.62
16.99

2.67
9.83
-.94
-17.96
14.53
2.01
-10.95
14.39
7.40
7.99

6.92
8.48
-2.65
-12.89
15.81
-9.34
1.31
1.80
11.36
10.28

9.70
10.20
-5.23
1.06
8.46
-3.43
7.37
3.70
4.86
12.11

7.49
4.35
-10.34
7.30
10.68
-3.62
9.35
6.04
5.87
16.07

6.70
8.21
-4.79
-5.62
12.37
-3.59
1.77
6.48
7.37
11.62

1965
1966
1967
1968
1969
1970
1971
1972
1973
1974

17.91
16.42
14.91
16.99
14.24
35
5.80
6.49
21.53
29.42

19.93
20.58
12.66
16.77
12.98
-3.07
11.80
8.61
27.71
25.62

19.90
24.68
10.38
11.38
12.61
-4.14
14.76
9.24
32.93
19.80

16.41
26.23
7.73
7.16
12.86
-.98
12.40
8.58
33.41
14.64

12.08
25.49
4.90
7.50
13.57
1.99
5.14
9.77
29.99
12.38

10.64
24.18
3.58
8.15
13.97
2.14
-2.15
11.59
28.36
14.27

12.18
23.24
4.32
4.72
14.23
2.19
-7.34
11.06
27.38
14.10

13.76
22.09
8.30
1.22
13.45
3.06
-6.77
12.14
24.34
6.41

10.86
18.36
12.26
3.04
12.80
3.47
-1.61
17.01
22.09
-.21

7.41
16.66
11.50
9.66
11.89
-.17
4.19
22.18
22.06
-2.96

7.17
16.97
9.67
15.07
8.98
-1.98
5.95
23.22
25.46
-3.52

11.34
16.16
12.43
15.48
5.60
-.43
5.51
19.66
29.91
-6.04

19.25
20.56
12.65
15.05
13.28
-2.29
10.79
8.11
27.39
24.95

13.04
25.30
5.40
7.60
13.47
1.05
5.13
9.98
30.59
13.76

12.27
21.23
8.29
2.99
13.49
2.91
-5.24
13.40
24.60
6.77

8.64
16.60
11.20
13.40
8.82
-.86
5.22
21.69
25.81
-4.17

13.30
20.92
9.39
9.76
12.26
.20
3.97
13.30
27.10
10.33

1975
1976
1977
1978
1979
1980
1981
1982

-13.72
-2.71
8.68
16.35
25.42
-11.28
-5.23
-12.21

-23.40
3.94
12.84
18.89
25.84

-32.67
7.99
12.86
21.19
20.93
-6.52
-.75
-21.87

-35.27
10.37
11.84
25.83
15.79
-3.90
-.10
-16.58

-31.72
12.24
12.25
28.97
13.08
-4.15
2.39
-13.15

-25.64
13.40
12.32
26.50
12.85
-9.20
5.35
-12.80

-20.04
12.56
11.52
19.63
12.32
-14.60
8.68
-11.39

-14.15
8.37
11.99
15.64
9.01
-15.07
6.90
-9.24

-7.47
6.76
15.81
15.92
1.48
-10.09
5.17
-6.95

-3.40
6.93
17.15
18.22
-6.64
-4.73
4.61
-9.35

-3.30
7.75
15.42
20.13
-11.23
-2.80
1.88
-16.33

-5.00
7.49
14.28
22.14
-12.22
-2.67
-3.92
-21.54

-23.26
3.07
11.46
18.81
24.06
-9.28
-3.23
-17.80

-30.88
12.00
12.14
27.10
13.91
-5.75
2.55
-14.18

-13.89
9.23
13.11
17.06
7.60
-13.25
6.92
-9.19

-3.90
7.39
15.62
20.16
-10.03
-3.40
.86
-15.74

-17.98
7.92
13.08
20.78
8.89
-7.92
1.77
-14.23

-10.05
-3.72
-19.32

37.

1.27

.57

-5.58

.06

of persons
[Thousands]

Average for period

1947
1948
1949
1950
1951
1952
1953
1954

2,034
2,596
4,026
2,305
1,972
1,839
3,077

2,328
2,849
3,936
2,117
1,957
1,636
3,331

2,399
3,030
3,876
2,125
1,813
1,647
3,607

2,386
3,260
3,575
1,919
1,811
1,723
3,749

2,118
3,707
3,434
1,856
1,863
1,596
3,767

2,214
3,776
3,367
1,995
1,884
1,607
3,551

2,213
4,111
3,120
1,950
1,991
1,660
3,659

2,350
4,193
2,799
1,933
2,087
1,665
3,854

2,302
4,049
2,774
2,067
1,936
1,821
3,927

2,259
4,916
2,625
2,194
1,839
1,974
3,666

2,285
3,996
2,589
2,178
1,743
2,211
3,402

2,429
4,063
2,639
1,960
1,667
2,818
3,196

2,254
2,825
3,946
2,182
1,914
1,707
3,338

2,239
3,581
3,459
1,923
1,853
1,642
3,689

2,288
4,118
2,898
1,983
2,005
1,715
3,813

2,324
4,325
2,618
2,111
1,750
2,334
3,421

2,311
2,276
3,637
3,288
2,055
1,883
1,834
3,532

1955
1956
1957
1958
1959
1960
1961
1962
1963
1964

3,157
2,666
2,796
3,875
4,068
3,615
4,671
4,081
4,074
4,029

2,969
2,606
2,622
4,303
3,965
3,329
4,832
3,871
4,238
3,932

2,918
2,764
2,509
4,492
3,801
3,726
4,853
3,921
4,072
3,950

3,049
2,650
2,600
5,016
3,571
3,620
4,893
3,906
4,055
3,918

2,747
2,861
2,710
5,021
3,479
3,569
5,003
3,863
4,217
3,764

2,701
2,882
2,856
4,944
3,429
3,766
4,885
3,844
3,977
3,814

2,632
2,952
2,796
5,079
3,528
3,836
4,928
3,819
4,051
3,608

2,784
2,701
2,747
5,025
3,588
3,946
4,682
4,013
3,878
3,655

2,678
2,635
2,943
4,821
3,775
3,884
4,676
3,961
3,957
3,712

2,830
2,571
3,020
4,570
3,910
4,252
4,573
3,803
3,987
3,726

2,780
2,861
3,454
4,188
4,003
4,330
4,295
4,024
4,151
3,551

2,761
2,790
3,476
4,191
3,653
4,617
4,177
3,907
3,975
3,651

3,015
2,679
2,642
4,223
3,945
3,557
4,785
3,958
4,128
3,970

2,832
2,798
2,722
4,994
3,493
3,652
4,927
3,871
4,083
3,832

2,698
2,763
2,829
4,975
3,630
3,889
4,762
3,931
3,962
3,658

2,790
2,741
3,317
4,316
3,855
4,400
4,348
3,911
4,038
3,643

2,852
2,750
2,859
4,602
3,740
3,852
4,714
3,911
4,070
3,786

1965
1966
1967
1968
1969
1970
1971
1972
1973
1974

3,572
2,988
2,968
2,878
2,718
3,201
4,986
5,019
4,326
4,644

3,730
2,820
2,915
3,001
2,692
3,453
4,903
4,928
4,452
4,731

3,510
2,887
2,889
2,877
2,712
3,635
4,987
5,038
4,394
4,634

3,595
2,828
2,895
2,709
2,758
3,797
4,959
4,959
4,459
4,618

3,432
2,950
2,929
2,740
2,713
3,919
4,996
4,922
4,329
4,705

3,387
2,872
2,992
2,938
2,816
4,071
4,949
4,923
4,363
4,927

3,301
2,876
2,944
2,883
2,868
4,175
5,035
4,913
4,305
5,063

3,254
2,900
2,945
2,768
2,856
4,256
5,134
4,939
4,305
5,022

3,216
2,798
2,958
2,686
3,040
4,456
5,042
4,849
4,350
5,437

3,143
2,798
3,143
2,689
3,049
4,591
4,954
4,875
4,144
5,523

3,073
2,770
3,066
2,715
2,856
4,898
5,161
4,602
4,396
6,140

3,031
2,912
3,018
2,685
2,884
5,076
5,154
4,543
4,489
6,636

3,604
2,898
2,924
2,919
2,707
3,430
4,959
4,995
4,391
4,670

3,471
2,883
2,939
2,796
2,762
3,929
4,968
4,935
4,384
4,750

3,257
2,858
2,949
2,779
2,921
4,296
5,070
4,900
4,320
5,174

3,082
2,827
3,076
2,696
2,930
4,855
5,090
4,673
4,343
6,100

3,366
2,875
2,975
2,817
2,832
4,093
5,016
4,882
4,365
5,156

1975
1976
1977
1978
1979
1980
1981
1982

7,501
7,534
7,280
6,489
6,112
6,674
8,048
, 9,346

7,520
7,326
7,443
6,318
6,173
6,674
8,032
9,669

7,978
7,230
7,307
6,337
6,104
6,717
7,967
9,881

8,210
7,330
7,059
6,180
6,062
7,348
7,860
10,256

8,433
7,053
6,911
6,127
5,861
7,970
8,133
10,384

8,220
7,322
7,134
6,028
5,950
8,063
8,047
10,466

8,127
7,490
6,829
6,309
5,986
8,353
7,854
10,828

7,928
7,518
6,925
6,080
6,313
8,287
8,053
10,931

7,923
7,380
6,751
6,125
6,183
8,044
8,271
11,315

7,897
7,430
6,763
5,947
6,298
8,111
8,673
11,576

7,794
7,620
6,815
6,077
6,248
8,029
9,025
11,906

7,744
7,545
6,386
6,228
6,361
7,796
9,389
12,036

7,666
7,363
7,343
6,381
6,130
6,688
8,016
9,632

8288
7,235
7,035
6,112
5,958
7,794
8,013
10,369

7,993
7,463
6,835
6,171
6,161
8,228
8,059
11,025

7,812
7,532
6,655
6,084
6,302
7,979
9,029
11,839

7,929
7,406
6,991
6,202
6,137
7,637
8,273
10,678

38. Change in manufacturers' inventories, materials and supples on hand and on order, book value
[ M o r e of dolarsl

1947
1948
1949
1950
1951
1952
1953
1954

-1.40

0.17
-1.06

0.10
-1.48

-0.08
-1.05

0.38
-.93

-0.28
-.66

-0.95
-.77

-1.24
-.69

-1.84
.14

-1.73
.56

-1.08
-.18

.86
.04
-.58
.32
.81
.09
.05
.16
.30
1.02

1.07
.24
-.93
.22
.50
-.58
.07
.01
.36
1.19

.71
.22
-.92
.54
.31
-.26
.33
-.01
-.05
.85

.84
.37
.29
.54
.67
-.28
.32
.88
2.81
-.38

.61
.24
.59
.55
-.32
.51
.30
1.42
2.54
.11

.04
.75
1.18
2.93
2.62
1.46
-3.01
-1.94

.46
1.70
.78
4.00
2.11
.86
-1.78
-1.85

1955
1956
1957
1958
1959
1960
1961
1962
1963
1964

86
67
-.49
-2.42
42
-.98
-.10
96
60
31

.56
.41
-.09
-.99
1.35
-.69
-.36
.21
.32
.07

1.12
.18
-.43
-.58
.80
-1.18
-.12
-.21
.58
.32

.38
.97
-.62
-.54
.39
-.95
.13
-.64
.79
.26

.48
.26
-.24
-.40
.01
-.67
.23
-.15

.52
-.22
-.50
.15
.50
-.45
.10
-.19
-.16
.49

.80
1.12
-.91
.27
.14
-.46
.38
-.19
.02
.57

.65
1.04
-.98
.15
.11
.20
.80
-.13
-.10
.42

1965
1966
1967
1968
1969
1970
1971
1972
1973
1974

84
94
64
90
51
-.71
1.04
66
2.52
2.84

.76
1.24
.17
.54
.16
-.43
.31
.77
2.33
3.25

.66
1.66
-.23
.03
.69
-.17
.05
.46
2.97
2.33

.07
.97
.19
.04
.80
-.15
-.37
.32
2.24
2.72

.46
1.01
.03
-.15
.81
-.23
-.83
.78
2.60
4.04

.43
1.37
.52
-.57
.18
-.11
-1.29
.53
2.29
3.70

.32
.97
.60
-.72
.31
-.61
-.42
.99
1.91
3.36

.16
1.14

-.05
1.41
2.30
3.31

.72
.30
.42
.27
.55
-.11
-.09
1.29
2.62
1.92

1975
1976
1977
1978
1979
1980
1981
1982

-1.61
-.24
1.27
72
4.91
3.14
1.36
-1.87

-1.72
-.11
1.04
1.53
3.34
2.77
.32
-2.82

-2.88
1.52
1.24
2.11
3.50
1.57
-.38
-1.88

-3.20
.55
1.26
2.11
4.38
-.54
1.26
-2.08

-1.88
1.05
1.18
3.05
1.25
-1.94
1.66
-2.03

-1.52
.95
.70
3.26
3.20
-1.00
1.27
-3.18

-.40
.70
0
2.32
1.09
1.46
1.05
-1.57

-.56
-.50
1.45
3.05
2.89
-.16
-1.10
-2.12

-.60
.83
1.36
3.05
.64
.55
.75
-2.45

80



Average for period

0.01
-.88

-1.34
-.44

-1.35
.16

-0.62

1.20
.34
-1.17
.07
-.08
-.68
1.17
.03
.02
.71

.85
.42
-.34
-1.33
.86
-.95
-.19
.32
.50
.23

.46
.34
-.45
-.26
.30
-.59
.15
-.33
.34
.37

.77
.73
-.82
.25
.35
-.06
.41
-.05
.07
.67

.99
.27
-1.01
.28
.24
-.51
.52
.01
.11
.92

.77
.44
-.65
-.27
.44
-.55
.22
-.01
.26
.55

1.04

.68
-.04
.41
.58
1.09
2.86
-.68

.75
1.28
.19
.49
.45
-.44
.47
.63
2.61
2.81

.32
1.12
.25
-.23
.60
-.16
-.83
.54
2.38
3.49

.40
.80
.57
-.06
.26
-.37
-.19
1.23
2.28
2.86

.83
.23
.59
.59
.10
.21
.40
1.13
2.74
-.32

.58
.86
.40
.20
.35
-.19
-.04
.88
2.50
2.21

-.47
.53
2.10
3.12
.82
.60
-1.05
-1.69

-2.07
.39
1.18
1.45
3.92
2.49
.43
-2.19

-2.20
.85
1.05
2.81
2.94
-1.16
1.40
-2.43

-.52
.34
.94
2.81
1.54
.62
.23
-2.05

.01
.99
1.35
3.35
1.85
.97
-1.95
-1.83

-1.19
.64
1.13
2.60
2.56
.73
.03
-2.12

-1.25
.09

Year

Quarterly

Monthly
Jan.

Feb.

Mar.

Apr.

May

June

July

Aug.

Sept.

Oct.

Nov.

Dec.

IQ

11Q

39. Percent of consumer instalment loans defnquent 30 days and over
[Percent]
2.31
2.22
2.70
2.20
2.03
1.87
2.05

2.11
2.81
2.73
2.08
1.91
1.83
2.07

2.49
2.85
2.38
2.10
2.05
1.90
1.98

2.34
2.70
2.45
2.31
1.98
1.75
1.99

2.21
2.80
2.43
2.09
2.08
1.88
1.94

2.29
2.91
2.22
2.06
2.25
1.82
1.91

2.17
2.91
2.17
2.17
2.19
1.83
1.86

2.22
2.55
2.26
2.11
2.14
2.01
1.83

2.20
2.69
2.30
2.09
1.99
1.97
1.81

2.23
2.70
2.23
2.05
1.99
1.97
1.84

1955
1956
1957
1958
1959
1960
1961
1962
1963
1964

1.61
1.52
1.50
1.57
1.56
1.71
1.81
1.69
1.59
1.69

1.62
1.46
1.50
1.63
1.55
1.60
1.84
1.69
1.60
1.68

1.53
1.53
1.57
1.76
1.52
1.60
1.81
1.69
1.64
1.66

1.55
1.54
1.47
1.70
1.50
1.64
1.85
1.67
1.59
1.59

1.55
1.49
1.46
1.74
1.49
1.64
1.83
1.64
1.57
1.68

1.50
1.51
1.52
1.75
1.43
1.68
1.79
1.65
1.68
1.63

1.49
1.51
1.50
1.71
1.36
1.73
1.83
1.61
1.68
1.63

1.44
1.53
1.48
1.75
1.52
1.70
1.80
1.61
1.67
1.71

1.47
1.54
1.54
1.63
1.56
1.71
1.76
1.63
1.73
1.65

1.47
1.48
1.51
1.60
1.67
1.79
1.70
1.61
1.65
1.71

1.79
1.75
1.86
1.57
1.57
1.83
1.81
1.72
2.01
2.54

Annual

2.40
2.37
2.69
1.97
2.23
1.85
2.02
1.79

2.40
2.02
2.67
2.09
2.15
1.92
1.98
1.65

2.49
2.85
2.38
2.10
2.05
1.90
1.98

2.29
2.91
2.22
2.06
2.25
1.82
1.91

2.20
2.69
2.30
2.09
1.99
1.97
1.81

2.40
2.02
2.67
2.09
2.15
1.92
1.98
1.65

2.40
2.02
2.67
2.09
2.15
1.92
1.98
1.65

1.44
1.49
1.55
1.60
1.75
1.78
1.67
1.63
1.79

1.50
1.52
1.57
1.55
1.65
1.76
1.68
1.64
1.76
1.70

1.53
1.53
1.57
1.76
1.52
1.60
1.81
1.69
1.64
1.66

1.50
1.51
1.52
1.75
1.43
1.68
1.79
1.65
1.68
1.63

1.47
1.54
1.54
1.63
1.56
1.71
1.76
1.63
1.73
1.65

1.50
1.52
1.57
1.55
1.65
1.76
1.68
1.64
1.76
1.70

1.50
1.52
1.57
1.55
1.65
1.76
1.68
1.64
1.76
1.70

1.65
1.74
1.69
1.63
1.76
1.90
1.72
1.96
2.27
2.80

1.65
1.74
1.69
1.63
1.76
1.90
1.72
1.96
2.27
2.80

2.47
2.40
2.36
2.45
2.64
2.57
2.37
2.18

2.47
2.40
2.36
2.45
2.64
2.57
2.37
2.18

Average for period
18,414
18,695
18,871
18,765
17,085
17,409
19,493
18,991
19,881
19,924
20,770
20,027
20,666
21,159
19,667
19,458

18,509
18,774
17,565
18,506
19,959
20,198
21,074
19,751

1.65
1.74
1.69
1.63
1.76
1.90
1.72
1.96
2.27
2.80

1.81
1.77
1.67
1.48
1.68
1.85
1.90
2.00
2.11
2.65

1.76
1.76
1.72
1.56
1.64
1.79
1.78
1.85
1.99
2.61

2.59
2.36
2.36
2.42
2.59
2.70
2.28
2.19

2.48
2.53
2.41
2.35
2.45
2.53
2.37
2.24

2.29
2.19
2.24
2.34
2.50
2.66
2.42
2.23

2.47
2.40
2.36
2.45
2.64
2.57
2.37
2.18

2.94
2.45
2.37
2.51
2.33
2.53
2.53
2.24

2.63
2.40
2.38
2.44
2.45
2.74
2.30
2.16

18,403
18,822
17,385
19,074
19,919
20,149
21,142
19,418

18,504
18,915
17,510
19,219
19,809
20,421
21,068
19,479

18,583
18,822
16,777
19,435
19,834
20,582
20,889
19,547

18,680
18,795
17,119
19,510
19,853
20,793
20,638
19,705

18,822
18,677
17,358
19,533
19,957
20,934
20,471
19,748

18,485
18,802
18,189
17,357
19,949
20,075
21,201
20,137

18,423
18,645
17,572
18,143
20,087
19,925
21,293
19,750

20,626
20,596
21,026
19,219
20,793
20,451
19,878
20,526
20,697
21,020

20,661
21,124
20,942
19,320
20,273
20,375
19,967
20,546
20,717
21,088

20,675
21,137
20,843
19,494
20,242
20,255
19,963
20,548
20,745
21,225

20,789
21,261
20,741
19,426
20,127
20,151
20,004
20,552
20,769
20,983

20,876
21,214
20,539
19,817
20,339
20,012
20,144
20,505
20,707
21,307

20,942
21,292
20,418
19,838
20,720
19,752
20,200
20,428
20,723
21,402

20,002
21,036
21,248
19,806
20,166
20,776
19,618
20,251
20,445
20,757

20,511
21,160
21,136
19,203
20,643
20,639
19,751
20,505
20,649
20,916

20,654
20,952
20,937
19,344
20,436
20,360
19,936
20,540
20,720
21,111

20,869
21,256
20,566
19,694
20,395
19,972
20,116
20,495
20,733
21,231

20,513
21,104
20,964
19,513
20,411
20,434
19,857
20,451
20,640
21,005

21,941
23,291
23,236
23,758
24,497
23,598
22,885
23,574
24,931
24,911

22,032
23,363
23,238
23,796
24,486
23,467
22,844
23,694
24,981
24,834

22,134
23,299
23,226
23,831
24,477
23,375
22,982
23,795
24,977
24,726

22,206
23,373
23,205
23,872
24,442
22,830
22,933
24,004
25,109
24,587

22,373
23,419
23,440
23,972
24,300
22,702
23,038
24,121
25,214
24,216

22,536
23,467
23,474
24,092
24,353
23,014
23,067
24,188
25,268
23,659

21,542
22,786
23,397
23,473
24,218
24,197
22,870
23,300
24,570
25,186

21,751
23,111
23,231
23,691
24,371
23,807
22,937
23,578
24,823
25,050

22,036
23,318
23,233
23,795
24,487
23,480
22,904
23,688
24,963
24,824

22,372
23,420
23,373
23,979
24,365
22,849
23,013
24,104
25,197
24,154

21,926
23,158
23,308
23,737
24,361
23,578
22,935
23,668
24,893
24,794

22,445
23,358
24,508
25,781
26,485
25,208
25,653
23,672

22,616
23,512
24,622
25,829
26,496
25,270
25,586
23,530

22,727
23,417
24,662
25,977
26,479
25,394
25,445
23,287

22,762
23,557
24,741
26,119
26,386
25,513
25,242
23,131

22,887
23,575
24,745
26,231
26,444
25,588
24,992
23,061

22,850
23,149
23,799
24,902
26,351
26,382
25,565
24,621

22,324
23,330
24,307
25,536
26,523
25,617
25,562
24,178

22,437
23,412
24,551
25,780
26,534
25,175
25,653
23,682

22,792
23,516
24,716
26,109
26,436
25,498
25,226
23,160

22,600
23,352
24,346
25,585
26,461
25,658
25,497
23,907

43,783
45,052
43,490
46,035
47,806
48,687
50,272
48,644

44,003
45,167
43,708
46,304
47,743
49,076
50,216
48,752

44,184
45,084
42,823
46,530
47,833
49,436
50,114
48,828

44,324
45,083
43,148
46,654
48,026
49,710
49,824
49,102

44,529
45,032
43,497
46,756
48,119
49,933
49,627
49,242

43,579
44,596
44,400
43,488
47,482
48,390
50,225
49,230

43,569
44,604
43,815
44,593
47,856
48,361
50,365
48,884

Average for period
44,346
43,818
45,066
45,093
43,156
43,538
46,647
45,900
47,993
47,824
49,693
48,585
49,855
50,291
49,057
48,695

43,857
44,866
43,754
45,197
47,819
48,793
50,202
48,990

50,823
51,764
52,970
50,915
53,683
54,230
54,052
55,663
56,705
58,309

50,905
52,396
52,918
51,118
53,230
54,198
54,232
55,796
56,832
58,510

51,085
52,446
52,825
51,359
53,265
54,069
54,303
55,860
56,971
58,777

51,308
52,667
52,673
51,379
53,203
53,982
54,375
55,919
57,148
58,658

51,491
52,722
52,458
51,831
53,503
53,843
54,636
55,943
57,125
59,080

51,721
52,865
52,281
51,968
54,033
53,571
54,739
55,915
57,251
59,320

49,584
52,039
52,953
51,527
52,610
54,313
53,453
54,936
56,041
57,529

50,408
52,381
52,996
50,790
53,392
54,406
53,690
55,487
56,501
57,983

50,938
52,202
52,904
51,131
53,393
54,166
54,196
55,773
56,836
58,532

51,507
52,751
52,471
51,726
53,580
53,799
54,583
55,926
57,175
59,019

50,641
52,369
52,853
51,324
53,268
54,189
53,999
55,549
56,653
58,283

60,590
63,989
65,642
67,779
70,478
70,888
71,136
73,639
76,743
78,443

60,868
64,166
65,816
67,979
70,629
70,927
71,169
73,576
76,713
78,492

61,072
64,306
65,933
68,189
70,742
70,750
71,168
73,908
77,009
78,511

61,333
64,367
66,074
68,333
70 800
70,815
71,499
74,107
77,170
78,542

61,538
64,614
66,091
68,569
70,957
70,383
71,485
74,537
77,506
78,599

61,859
64,839
66,570
68,837
70,921
70,264
71,723
74,904
77,867
78,234

62,209
65,042
66,767
69,151
71,119
70,661
71,977
75,164
77,933
77,531

59,683
62,770
65,256
66,946
69,558
71,208
70,736
72,583
75,871
78,128

60,353
63,634
65,498
67,573
70,218
71,056
71,078
73,355
76,508
78,354

61,091
64,280
65,941
68,167
70,724
70,831
71,279
73,864
76,964
78,515

61,869
64,832
66,476
68,852
70,999
70,436
71,728
74,868
77,769
78,121

60,765
63,901
65,803
67,897
70,384
70,880
71,214
73,675
76,790
78,265

76,400
79,264
82,392
86,833
89,980
89,937
91,322
89,775

76,640
79,469
82,743
87,060
90,082
89,674
91,484
89,450

77,034
79,591
82,954
87,319
90,150
89,932
91,424
89,264

77,216
79,857
83,460
87,470
90,212
90,092
91,411
89,235

77,479
79,847
83,659
87,788
90,367
90,364
91,295
88,938

77,582
80,122
84,012
88,233
90,465
90,606
91,041
88,785

77,878
80,310
84,260
88,534
90,596
90,805
90,730
88,665

76,775
78,586
80,846
84,872
89,021
90,877
90,980
90,340

76,401
79,198
81,997
86,431
89,656
90,303
91,194
89,938

76,963
79,639
83,052
87,283
90,148
89,899
91,440
89,316

77,646
80,093
83,977
88,185
90,476
90,592
91,022
88,796

76,945
79,382
82,471
86,697
89,823
90,406
91,156
89,596

2.60
2.65
2.74
2.63
2.39
2.41
2.34
2.40
2.41
2.43
2.40
2.38
2.42
2.28
2.44
2.44
2.45
2.37
2.43
2.45
2.77
2.64
2.53
2.74
2.22
2.40
2.40
2.30
2.19
2.21
2.20
2.16
40. Employees on nonagricultural payrote,goods-producing
[Thousands]
18,414
18,334
18,370
18,486
18,777
18,876
18,651
18,507
17,401
17,537
17,332
17,778
18,198
18,424
17,808
18,680
20,088
20,094
20,080
20,045
20,034
20,099
19,642
19,511
21,296
21,304
21,278
21,266
19,727
19,877
19,646
19,476

1975
1976
1977
1978
1979
1980
1981
1982

2.59
2.49
2.37
2.42
2.12
2.37
2.42
2.48

2.71
2.46
2.37
2.48
2.31
2.32
2.51
2.39

2.94
2.45
2.37
2.51
2.33
2.53
2.53
2.24

1947
1948
1949
1950
1951
1952
1953
1954

18,466
18,915
18,394
17,389
19,817
20,014
21,073
20,219

18,499
18,710
18,195
17,119
19,988
20,146
21,235
20,163

18,491
18,782
17,978
17,563
20,041
20,066
21,295
20,030

1955
1956
1957
1958
1959
1960
1961
1962
1963
1964

19,832
20,997
21,196
20,183
20,061
20,789
19,675
20,122
20,463
20,608

19,984
21,087
21,278
19,730
20,121
20,903
19,559
20,304
20,425
20,830

20,191
21,024
21,269
19,504
20,315
20,636
19,621
20,328
20,447
20,832

20,367
21,137
21,192
19,266
20,520
20,721
19,628
20,526
20,615
20,875

20,526
21,135
21,124
19,165
20,644
20,653
19,745
20,516
20,681
20,915

20,641
21,207
21,092
19,178
20,765
20,544
19,880
20,473
20,650
20,958

1965
1966
1967
1968
1969
1970
1971
1972
1973
1974

21,459
22,615
23,488
23,336
24,119
24,190
22,941
23,226
24,391
25,200

21,560
22,793
23,389
23,542
24,229
24,198
22,841
23,269
24,618
25,219

21,606
22,950
23,314
23,542
24,306
24,204
22,828
23,406
24,702
25,139

21,642
23,002
23,282
23,663
24,310
24,027
22,917
23,484
24,745
25,094

21,763
23,082
23,211
23,694
24,358
23,744
22,977
23,588
24,804
25,054

21,849
23,250
23,200
23,717
24,445
23,649
22,918
23,661
24,919
25,003

1975
1976
1977
1978
1979
1980
1981
1982

23,296
23,057
23,631
24,794
26,275
26,496
25,600
24,711

22,777
23,159
23,777
24,857
26,288
26,382
25,516
24,670

22,478
23,230
23,990
25,055
26,489
26,268
25,579
24,483

22,328
23,354
24,178
25,449
26,446
25,941
25,530
24,307

1947
1948
1949
1950
1951
1952
1953
1954

43,524 "
44,680
44,631
43,472
47,227
48,229
50,043
49,340

43,584
44,492
44,399
43,175
47,519
48,491
50,271
49,270

43,630
44,615
44,169
43,816
47,700
48,450
50,360
49,081

43,510
44,334
44,057
44,238
47,849
48,476
50,367
48,984

1955....
1956
1957
1958
1959
1960
1961
1962
1963
1964

49,363
51,880
52,808
52,002
52,410
54,184
53,524
54,703
55,927
57,281

49,523
52,096
53,000
51,448
52,558
54,406
53,373
54,996
56,039
57,621

49,867
52,141
53,052
51,131
52,863
54,348
53,462
55,109
56,157
57,686

50,106
52,302
53,029
50,787
53,190
54,561
53,485
55,384
56,398
57,846

50,414
52,387
52,999
50,760
53,382
54,366
53,664
55,514
56,534
57,974

50,705
52,454
52,961
50,822
53,603
54,292
53,922
55,563
56,571
58,128

1965
1966
1967
1968
1969
1970
1971
1972
1973
1974

59,419
62,415
65,240
66,656
69,297
71,059
70,752
72,357
75,521
78,020

59,710
62,766
65,224
67,026
69,575
71,201
70,689
72,542
75,923
78,181

59,921
63,129
65,305
67,156
69,803
71,363
70,766
72,850
76,168
78,184

60,080
63,318
65,373
67,422
69,980
71,283
70,969
73,079
76,308
78,239

60,389
63,595
65,478
67,519
70,197
70,998
71,129
73,346
76,473
78,381

76,743
1975
77,153
1976
78,317
78,614
1977
80,527
80,783
1978
84,478
84,800
1979
88,733
88,957
1980
90,804
90,895
1981
90,920
90,990
1982
90,396
90,417
See footnotes at end of this part.

76,429
78,828
81,228
85,339
89,374
90,933
91,030
90,207

76,333
79,142
81,615
86,064
89,324
90,718
91,128
90,024

76,470
79,188
81,984
86,396
89,663
90,255
91,131
90,016




1.82
1.76
1.64
1.55
1.68
1.87
1.75
1.93
2.02
2.63

1.76
1.76
1.72
1.56
1.64
1.79
1.78
1.85
1.99
2.61

1.69
1.75
1.87
1.59
1.63
1.80
1.72
1.76
2.01
2.56

IVQ

End of period

1947
1948
1949
1950
1951
1952
1953
1954

1965
1966
1967
1968
1969
1970
1971
1972
1973
1974

III Q

22,352
22,291
22,251
23,315
23,320
23,365
24,306
24,438
24,522
25,502
25,658
25,729
26,516
26,606
26,622
25,594
25,316
25,047
25,503
25,654
25,720
24,226
24,001
23,843
41. Employees on nonagricultural payrok
[Thousands]
43,529
43,669
43,669
44,615
44,863
45,059
43,806
43,582
43,415
44,589
44,953
45,361
47,803
47,915
47,923
48,478
48,130
47,992
50,343
50,386
50,385
48,857
48,810
48,689

2.65
2.39
2.34
2.37
2.47
2.94
2.35
2.21
industries

2.59
2.36
2.36
2.42
2.59
2.70
2.28
2.19

81

Year

Jan.

Feb.

Mar.

Apr.

May

Monthly
June
July

Aug.

Sept.

Oct.

Nov.

Dec.

42. Number of persons engaged in nonagricurtural activities
[Thousands]
1947
1948
1949
1950
1951
1952
1953
1954

49,984
50,385
50,570
52,808
53,312
54,958
53,951

50,500
50,186
50,694
52,923
53,442
55,421
54,073

50,338
50,035
50,612
53,543
53,440
55,590
53,791

50,734
49,836
51,319
53,167
53,384
55,082
54,043

1955
1956
1957
1958
1959
1960
1961
1962
1963
1964

54,640
57,163
57,842
57,389
58,387
59,889
60,354
61,014
62,190
63,724

54,873
57,061
58,132
57,244
58,255
60,177
60,116
61,249
62,372
64,188

54,722
57,190
58,441
57,170
58,590
59,714
60,444
61,336
62,655
64,397

1965
1966
1967
1968
1969
1970
1971
1972
1973
1974

65,726
68,121
69,781
70,792
73,101
75,358
75,471
77,593
79,705
82,799

65,805
68,056
69,883
71,270
73,557
75,259
75,412
77,750
80,497
82,930

1975
1976
1977
1978
1979
1980
1981
1982

82,226
84,013
86,743
90,950
94,640
96,559
96,544
96,309

81,895
84,368
87,120
91,199
94,936
96,576
96,803
96,328

1947
1948
1949
1950
1951
1952
1953
1954
1955
1956
1957
1958
1959
1960
1961
1962
1963
1964
1965
1966
1967
1968
1969
1970
1971
1972
1973
1974
1975
1976
1977
1978
1979
1980
1981
1982

3.4
4.3
6.5
3.7
3.2
2.9
4.9
4.9
4.0
4.2
5.8
6.0
5.2
6.6
5.8
5.7
5.6
4.9
4.0
3.9
3.7
3.4
3.9
5.9
5.8
4.9
5.1
8.1
7.9
7.5
6.4
5.9
6.3
7.5
8.6

3.8
4.7
6.4
3.4
3.1
2.6
5.2
4.7
3.9
3.9
6.4
5.9
4.8
6.9
5.5
5.9
5.4
5.1
3.8
3.8
3.8
3.4
4.2
5.9
5.7
5.0
5.2
8.1
7.7
7.6
6.3
5.9
6.3
7.4
8.8

Quarterly
111 Q

"ft

_L5

1955
1956
1957
1958
1959
1960
1961
1962
1963
1964
1965
1966
1967
1968
1969
1970
1971
1972
1973
1974
1975
1976
1977
1978
1979
1980
1981
1982

0.5
.5
1.5
.7
.5
.4
.6
1.4
.8
.8
1.3
2.1
1.3
1.9
1.8
1.6
1.5
1.1
.8
.6
.6
.4
.5
1.3
1.5
1.1
.9
1.7
2.9
2.3
1.6
1.2
1.3
2.2
2.2




0.5
.6
1.5
.6
.4
.3
.8
1.3
.8
.8
1.5
1.9
1.2
2.0
1.8
1.6
1.4
1.2
.8
.6
.6
.4
.6
1.3
1.5
1.0
.9
2.0
2.7
2.2
1.6
1.2
1.3
2.2
2.5

Annual

Average for period

51,152
49,370
51,767
53,091
53,690
55,095
53,630

51,366
49,169
51,875
53,555
53,637
55,130
53,421

50,894
49,793
52,549
53,204
53,616
54,832
53,766

50,648
50,287
52,583
53,155
53,984
54,708
53,829

50,761
50,455
52,432
53,374
53,769
54,797
54,028

50,793
50,512
52,534
53,137
54,239
54,393
54,423

50,756
50,466
52,669
53,432
54,593
54,048
54,268

50,274
50,202
50,625
53,091
53,398
55,323
53,938

50,866
49,564
51,486
53,231
53,645
55,086
53,790

50,969
49,750
52,336
53,305
53,746
54,890
53,672

50,770
50,478
52,545
53,314
54,200
54,413
54,240

49,148
50,714
49,993
51,758
53,235
53,749
54,919
53,904

55,152
57,154
58,211
57,029
58,875
60,488
60,337
61,363
62,972
64,942

50,713
49,485
51,372
53,436
53,861
55,082
53,698
55,307
57,486
57,986
57,227
58,907
60,698
60,350
61,724
62,886
65,028

55,538
57,485
58,194
57,220
59,137
60,752
60,773
61,727
63,007
64,662

56,075
57,480
58,139
57,220
59,447
60,367
60,455
61,643
63,211
64,808

56,222
57,692
58,061
57,339
59,402
60,375
60,486
62,102
63,304
64,890

56,131
57,704
58,393
57,728
59,323
60,512
60,520
62,325
63,524
64,959

56,263
57,838
58,171
57,912
59,556
60,196
60,716
62,298
63,592
65,032

56,602
57,799
57,983
57,899
59,050
60,596
60,991
62,016
63,573
65,239

57,031
58,104
57,885
58,028
59,883
60,156
60,908
62,300
63,584
65,492

54,745
57,138
58,138
57,268
58,411
59,927
60,305
61,200
62,406
64,103

55,332
57,375
58,130
57,159
58,973
60,646
60,487
61,605
62,955
64,877

56,143
57,625
58,198
57,429
59,391
60,418
60,487
62,023
63,346
64,886

56,632
57,914
58,013
57,946
59,496
60,316
60,872
62,205
63,583
65,254

55,722
57,514
58,123
57,450
59,065
60,318
60,546
61,759
63,076
64,782

66,121
68,119
69,682
71,475
73,699
75,364
75,232
78,135
80,983
83,093

66,209
68,402
70,134
71,686
73,894
75,362
75,413
78,273
81,152
83,087

66,310
68,567
70,186
72,293
73,706
75,017
75,690
78,475
81,272
83,362

66,581
68,808
70,589
72,376
74,217
74,858
75,423
78,681
81,676
83,555

67,070
68,940
70,687
72,267
74,411
75,209
75,919
78,769
81,759
83,713

67,007
69,225
70,804
72,307
74,637
75,206
76,144
78,975
81,779
83,608

67,015
69,306
71,003
72,414
74,699
75,047
76,322
78,975
82,146
83,591

67,277
69,489
71,043
72,483
74,928
75,348
76,513
78,982
82,563
83,564

67,631
69,895
71,192
72,736
75,064
75,278
76,887
79,473
82,727
83,221

67,903
69,823
71,397
73,032
75,331
75,214
77,100
79,804
82,743
82,783

65,884
68,099
69,782
71,179
73,452
75,327
75,372
77,826
80,395
82,941

66,367
68,592
70,303
72,118
73,939
75,079
75,509
78,476
81,367
83,335

67,031
69,157
70,831
72,329
74,582
75,154
76,128
78,906
81,895
83,637

67,604
69,736
71,211
72,750
75,108
75,280
76,833
79,420
82,678
83,189

66,726
68,915
70,527
72,103
74,296
75,215
75,972
78,669
81,594
83,279

81,829
84,689
87,596
91,404
95,091
96,265
97,148
96,230

81,874
84,978
87,958
92,045
94,808
95,886
97,487
96,128

81,987
82,437
81,891
85,427
85,253
85,735
88,837
88,322
88,619
92,444
92,860
92,649
95,349
95,045
95,673
95,537
95,460
95,485
97,597
97,033
97,428
96,548
96,310
96,143
43. Unemployment rate
[Percent]

82,805
85,843
89,181
93,030
95,414
95,582
97,313
96,254

82,771
85,895
89,501
93,270
95,988
95,656
96,746
96,180

82,973
85,958
89,780
93,724
96,095
95,965
96,981
95,763

83,125
86,371
90,386
94,201
96,162
96,180
96,840
95,670

83,406
86,552
90,785
94,185
96,559
96,164
96,458
95,682

81,983
84,357
87,153
91,184
94,889
96,467
96,832
96,289

81,917
85,219
88,300
92,450
95,067
95,628
97,372
96,329

82,671
85,824
89,173
92,983
95,692
95,574
97,162
96,192

83,168
86,294
90,317
94,037
96,272
96,103
96,760
95,705

82,438
85,421
88,734
92,661
95,477
95,938
97,030
96,125

4.0
5.0
6.3
3.4
2.9
2.6
5.7
4.6
4.2
3.7
6.7
5.6
5.4
6.9
5.6
5.7
5.4
4.7
3.8
3.8
3.7
3.4
4.4
6.0
5.8
4.9
5.1
8.6
7.6
7.4
6.3
5.8
6.3
7.3
9.0

3.9
5.3
5.8
3.1
2.9
2.7
5.9
4.7
4.0
3.9
7.4
5.2
5.2
7.0
5.6
5.7
5.3
4.8
3.8
3.8
3.5
3.4
4.6
5.9
5.7
5.0
5.1
8.8
7.7
7.2
6.1
5.8
6.9
7.2
9.3

3.5
6.1
5.5
3.0
3.0
2.5
5.9
4.3
4.3
4.1
7.4
5.1
5.1
7.1
5.5
5.9
5.1
4.6
3.9
3.8
3.5
3.4
4.8
5.9
5.7
4.9
5.1
9.0
7.4
7.0
6.0
5.6
7.5
7.5
9.4

3.6
6.2
5.4
3.2
3.0
2.5
5.6
4.2
4.3
4.3
7.3
5.0
5.4
6.9
5.5
5.6
5.2
4.6
3.8
3.9
3.7
3.5
4.9
5.9
5.7
4.9
5.4
8.8
7.6
7.2
5.9
5.7
7.5
7.4
9.5

3.6
6.7
5.0
3.1
3.2
2.6
5.8
4.0
4.4
4.2
7.5
5.1
5.5
7.0
5.4
5.6
4.9
4.4
3.8
3.8
3.7
3.5
5.0
6.0
5.6
4.8
5.5
8.6
7.8
6.9
6.2
5.7
7.8
7.2
9.8

Average for period

3.9
6.8
4.5
3.1
3.4
2.7
6.0
4.2
4.1
4.1
7.4
5.2
5.6
6.6
5.7
5.4
5.0
4.4
3.8
3.8
3.5
3.5
5.1
6.1
5.6
4.8
5.5
8.4
7.8
7.0
5.9
6.0
7.7
7.4
9.9

3.8
6.6
4.4
3.3
3.1
2.9
6.1
4.1
3.9
4.4
7.1
5.5
5.5
6.7
5.6
5.5
5.1
4.3
3.7
3.8
3.4
3.7
5.4
6.0
5.5
4.8
5.9
8.4
7.6
6.8
6.0
5.9
7.5
7.6

3.7
7.9
4.2
3.5
3.0
3.1
5.7
4.3
3.9
4.5
6.7
5.7
6.1
6.5
5.4
5.5
5.1
4.2
3.7
4.0
3.4
3.7
5.5
5.8
5.6
4.6
6.0
8.4
7.7
6.8
5.8
6.0
7.5
8.0

3.8
6.4
4.2
3.5
2.8
3.5
5.3
4.2
4.3
5.1
6.2
5.8
6.1
6.1
5.7
5.7
4.8
4.1
3.6
3.9
3.4
3.5
5.9
6.0
5.3
4.8
6.6
8.3
7.8
6.8
5.9
5.9
7.5
8.3

4.0

!

6.6
4.3
3.1
2.7
4.5
5.0
4.2
4.2
5.2
6.2
5.3
6.6
6.0
5.5
5.5
5.0
4.0
3.8
3.8
3.4
3.5
6.1
6.0
5.2
4.9
7.2
8.2
7.8
6.4
6.0
6.0
7.3
8.6

10.2

10.5

10.7

10.8

0.5
1.6
1.0
.4
.4
.3
1.6
.9
.9
.8
2.6
1.3
1.4
2.2
1.5
1.5
1.3
1.0
.6
.6
.5
.5
.9
1.5
1.3
.9
1.1
3.1
2.4
1.9
1.3
1.1
2.1
2.1
3.5

0.5
1.6
.9
.4
.4
.3
1.6
.9
.8
1.0
2.5
1.3
1.7
2.1
1.4
1.5
1.2
.9
.6
.6
.5
.5
.9
1.5
1.3
.9
1.2
2.9
2.4
1.8
1.3
1.2
2.1
2.1
3.8

0.5
1.7
.8
.5
.3
.4
1.5
.9
.9
1.0
2.3
1.4
1.7
2.0
1.5
1.5
1.3
.9
.6
.6
.5
.5
1.0
1.5
1.2
.9
1.2
3.0
2.4
1.8
1.2
1.2
2.2
2.2
4.1

0.5
1.6
.8
.4
.4
.5
1.3
.9
.9
1.1
2.2
1.3
1.6
1.9
1.5
1.4
1.2
.9
.6
.6
.4
.5
1.3
1.5
1.1
.8
1.4
3.0
2.4
1.7
1.2
1.2
2.3
2.2
4.3

3.7
4.6
6.4
3.5
3.1
2.7
5.2
4.7
4.0
4.0
6.3
5.8
5.2
6.8
5.6
5.8
5.5
4.9
3.9
3.8
3.7
3.4
4.2
5.9
5.8
5.0
5.1
8.2
7.7
7.5
6.3
5.9
6.3
7.4
8.8

3.7
5.9
5.6
3.1
3.0
2.6
5.8
4.4
4.2
4.1
7.4
5.1
5.2
7.0
5.5
5.7
5.2
4.7
3.8
3.8
3.5
3.4
4.8
5.9
5.7
4.9
5.2
8.9
7.6
7.1
6.0
5.7
7.3
7.4
9.5

0.5
.6
1.5
.6
.4
.3
.9
1.3
.8
.8
1.5
1.9
1.3
2.0
1.8
1.6
1.4
1.1
.8
.6
.6
.4
.6
1.3
1.5

0.5
1.0
1.4
.4
.4
.3
1.3
1.1
.8
.8
2.3
1.4
1.2
2.3
1.6
1.5
1.3
1.1
.7
.5
.5
.5
.7
1.4
1.3
.9
1.0
2.8
2.3
2.0
1.4
1.2
1.6
2.0
3.0

44. Unemployment rate, persons unemployed 15 weeks and over
[Percent]
1947
1948
1949
1950
1951
1952
1953
1954

IV Q

0.5
.7
1.5
.6
.4
.3
1.2
1.3
.8
.8
1.7
1.8
1.4
2.1
1.7
1.5
1.4
1.1
.8
.6
.6
.4
.6
1.3
1.4
1.0
.9
2.2
2.6
2.1
1.5
1.3
1.4
2.1
2.7

0.5
.8
1.5
.5
.4
.3
1.2
1.3
.7
.8
2.1
1.5
1.3
2.3
1.6
1.5
1.3
1.1
.8
.6
.5
.5
.7
1.4
1.4
.9
1.0
2.6
2.3
2.0
1.5
1.2
1.6
2.0
2.8

0.5
1.0
1.4
.4
.4
.3
1.4
1.1
.8
.8
2.2
1.4
1.1
2.4
1.6
1.6
1.3
1.0
.7
.5
.5
.5
.7
1.4
1.3
.9
1.0
2.8
2.2
2.0
1.4
1.2
1.6
2.0
3.0

0.5
1.2
1.4
.4
.3
.3
1.4
1.0
.8
.8
2.5
1.4
1.2
2.3
1.5
1.5
1.4
1.1
.6
.5
.5
.5
.8
1.4
1.3
.9
1.0
3.0
2.4
1.9
1.3
1.1
1.7
2.1
3.2

0.5
1.4
1.2
.4
.3
.3
1.5
1.0
.8
.8
2.6
1.3
1.3
2.6
1.5
1.5
1.4
.9
.6
.5
.5
.5
.8
1.5
1.3
.8
1.0
3.1
2.4
1.9
1.3
1.1
1.9
2.0
3.2

0.5
1.5
1.0
.4
.3
.3
1.6
.8
.8
.8
2.8
1.3
1.3
2.3
1.5
1.6
1.3
1.0
.6
.6
.5
.5
.9
1.5
1.3
.9
1.0
3.0
2.5
1.8
1.2
1.1
2.0
2.0
3.3

3.8
6.7
4.6
3.2
3.2
2.7
6.0
4.1
4.1
4.2
7.3
5.3
5.6
6.8
5.6
5.5
5.0
4.4
3.8
3.8
3.5
3.6
5.2
6.0
5.6
4.8
5.6
8.5
7.7
6.9
6.0
5.8
7.6
7.4
9.9

3.8
7.0
4.2
3.4
2.8
3.7
5.4
4.2
4.1
4.9
6.4
5.6
6.3
6.2
5.5
5.6
5.0
4.1
3.7
3.9
3.4
3.6
5.8
6.0
5.3
4.8
6.6
8.3
7.8
6.6
5.9
6.0
7.5
8.3

10.7

3.9
3.8
5.9
5.3
3.3
3.0
2.9
5.5
4.4
4.1
4.3
6.8
5.5
5.5
6.7
5.5
5.7
5.2
4.5
3.8
3.8
3.6
3.5
4.9
5.9
5.6
4.9
5.6
8.5
7.7
7.1
6.1
5.8
7.1
7.6
9.7

0.5
1.6
.8
.4
.4
.4
1.5
.9
.9
1.0
2.3
1.3
1.7
2.0
1.5
1.5
1.2
.9
.6
.6
.5
.5
1.1
1.5
1.2
.9
1.3
3.0
2.4
1.8
1.2
1.2
2.2
2.2
4.1

0.5
1.1
1.3
.5
.4
.3
1.3
1.1
.8
.8
2.1
1.5
1.4
2.2
1.6
1.5
1.3
1.0
.7
.6
.5
.5
.8
1.4
1.3
.9
1.0
2.7
2.5
2.0
1.4
1.2
1.7
2.1
3.2

Average for period

i

1.0

.9
2.0
2.7
2.2
1.6
1.2
1.3
2.2
2.5

0.5
1.5
1.1
.4
.3
.3
1.6
.9
.8
.8
2.7
1.3
1.3
2.4
1.5
1.5
1.3
1.0
.6
.6
.5
.5
.9
1.5
1.3
.9
1.0
3.1
2.4
1.9
1.3
1.1
2.0
2.0
3.3

Year

Quarterly

Monthly
Jan.

Feb.

Mar.

Apr.

May

June

July

Aug.

Sept.

Oct.

Nov.

Dec.

IQ

HQ

45. Average weekly insured unemployment rate, State programs
[Percent]

IIIQ

IVQ

Annual

Average for period

1947
1948
1949
1950
1951
1952
1953
1954

4.2
6.2
2.9
3.2
2.6
4.4

4.7
6.0
2.7
3.1
2.5
4.7

5.2
5.8
2.5
3.1
2.5
5.0

5.4
5.4
2.6
3.0
2.5
5.3

5.8
5.0
2.8
3.0
2.4
5.5

6.2
4.7
2.9
3.0
2.4
5.5

6.4
4.3
3.0
3.6
2.5
5.3

7.2
3.7
3.2
3.3
2.7
5.4

7.4
3.5
3.4
2.6
2.9
5.6

7.5
3.3
3.4
2.5
3.2
5.6

7.3
3.4
3.3
2.4
3.8
5.0

6.6
3.3
3.2
2.5
4.1
4.5

4.7
6.0
2.7
3.1
2.5
4.7

5.8
5.0
2.8
3.0
2.4
5.4

7.0
3.8
3.2
3.2
2.7
5.4

7.1
3.3
3.3
2.5
3.7
5.0

6.2
4.6
3.0
2.9
2.8
5.2

1955
1956
1957
1958
1959
1960
1961
1962
1963
1964

4.2
3.2
3.5
5.5
4.9
4.3
6.2
4.7
4.7
4.0

4.1
3.3
3.5
6.0
4.7
4.2
6.3
4.5
4.6
3.9

3.8
3.3
3.4
6.6
4.3
4.5
6.3
4.4
4.4
3.9

3.6
3.2
3.3
7.1
4.0
4.3
5.9
3.9
4.2
3.8

3.4
3.3
3.3
7.0
3.6
4.2
5.6
3.8
4.2
3.8

3.3
3.4
3.4
6.9
3.5
4.4
5.3
4.0
4.1
3.7

3.3
3.5
3.5
6.7
3.7
4.7
5.3
4.2
4.2
3.6

3.3
3.5
3.5
6.7
4.1
5.1
5.2
4.4
4.2
3.5

3.2
3.5
3.9
6.2
4.2
5.4
5.1
4.4
4.1
3,4

3.1
3.3
4.3
6.0
4.8
5.7
5.0
4.5
4.1
3.4

3.1
3.4
4.8
5.6
5.5
6.3
5.1
4.6
4.1
3.4

3.2
3.4
5.3
5.3
4.8
6.3
4.8
4.7
4.1
3.4

4.0
3.3
3.5
6.0
4.6
4.3
6.3
4.5
4.6
3.9

3.4
3.3
3.3
7.0
3.7
4.3
5.6
3.9
4.2
3.8

3.3
3.5
3.6
6.5
4.0
5.1
5.2
4.3
4.2
3.5

3.1
3.4
4.8
5.6
5.0
6.1
5.0
4.6
4.1
3.4

3.5
3.4
3.8
6.3
4.3
5.0
5.5
4.3
4.2
3.6

1965
1966
1967
1968
1969
1970
1971
1972
1973
1974

3.3
2.6
2.4
2.4
2.2
2.6
3.9
3.6
2.8
3.1

3.3
2.6
2.5
2.3
2.2
2.7
3.9
3.6
2.8
3.2

3.2
2.3
2.6
2.3
2.1
2.8
4.0
3.6
2.7
3.2

3.1
2.1
2.7
2.2
2.0
3.2
4.0
3.5
2.6
3.2

3.0
2.1
2.6
2.2
2.0
3.5
4.0
3.5
2.6
3.2

2.9
2.2
2.5
2.1
2.0
3.5
4.0
3.5
2.6
3.2

3.0
2.4
2.6
2.1
2.1
3.5
3.9
3.6
2.6
3.2

3.0
2.4
2.4
2.1
2.0
3.6
4.1
3.3
2.7
3.3

2.9
2.1
2.3
2.0
2.0
3.8
4.1
3.3
2.6
3.5

2.7
2.0
2.3
2.0
2.1
4.1
4.0
3.1
2.6
3.7

2.6
2.1
2.3
2.0
2.2
4.2
3.9
3.1
2.7
4.3

2.6
2.3
2.4
2.1
2.4
4.1
3.8
3.1
2.8
5.0

3.3
2.5
2.5
2.3
2.2
2.7
3.9
3.6
2.8
3.2

3.0
2.1
2.6
2.2
2.0
3.4
4.0
3.5
2.6
3.2

3.0
2.3
2.4
2.1
2.0
3.6
4.0
3.4
2.6
3.3

2.6
2.1
2.3
2.0
2.2
4.1
3.9
3.1
2.7
4.3

3.0
2.3
2.5
2.2
2.1
3.5
4.0
3.4
2.7
3.5

1975
1976
1977
1978
1979
1980
1981
1982

5.5
4.5
4.2
3.6
3.1
3.3
3.5
4.1

5.9
4.3
4.2
3.7
3.1
3.3
3.4
4.1

6.4
4.3
4.0
3.6
3.1
3.4
3.4
4.3

6.7
4.3
3.9
3.3
3.0
3.7
3.3
4.5

6.8
4.4
3.8
3.1
2.8
4.2
3.3
4.5

6.5
4.5
3.8
3.1
2.7
4.4
3.2
4.5

6.1
4.5
3.7
3.2
2.8
4.3
3.2
4.5

5.8
4.5
3.7
3.3
2.9
4.2
3.2
4.7

5.7
4.6
3.7
3.1
2.8
4.2
3.3
5.0

5.5
4.6
3.7
2.9
2.9
4.0
3.5
5.2

5.1
4.5
3.7
3.0
3.1
3.8
3.8
5.2

4.7
4.3
3.6
3.1
3.2
3.6
4.1
5.0

5.9
4.4
4.1
3.6
3.1
3.3
3.4
4.2

6.7
4.4
3.8
3.2
2.8
4.1
3.3
4.5

5.9
4.5
3.7
3.2
2.8
4.2
3.2
4.7

5.1
4.5
3.7
3.0
3.1
3.8
3.8
5.1

5.9
4.4
3.8
3.2
3.0
3.9
3.4
4.6

1947
1948
1949
1950
1951
1952
1953
1954

72~
65
47
34
62
68
72
45

72
63
40
34
63
67
73
43

70
59
40
35
66
65
77
41

68
59
38
37
64
66
75
41

65
59
38
38
66
65
73
40

63
59
35
40
63
65
70
41

62
58
34
43
64
66
67
40

66
59
33
49
64
67
64
40

76
62
32
50
63
71
61
40

73
57
31
54
65
74
56
40

70
53
30
53
65
74
51
43

67
48
29
51
65
74
46
44

71
62
42
34
64
67
74
43

65
59
37
38
64
65
73
41

68
60
33
47
64
68
64
40

70
53
30
53
65
74
51
42

69
58
36
43
64
68
65
42

1955
1956
1957
1958
1959
1960
1961
1962
1963
1964

47
68
69
43
50
63
47
61
58
62

49
70
66
40
52
63
46
60
58
61

52
69
65
38
55
60
47
60
59
62

53
70
62
37
59
59
47
60
58
65

56
69
61
37
59
58
49
62
57
65

58
38
62
57
50
60
57
67

60
65
60
40
64
55
51
60
59
69

63
67
57
41
62
54
53
59
58
68

67
66
56
44
63
52
54
58
58
69

65
70
52
45
61
50
57
57
60
69

47
47
61
49
59
57
59
72

71
67
45
50
62
47
58
57
62
72

67
40
52
62
47
60
58
62

56
69
60
37
60
58
49
61
57
66

63
66
58
42
63
54
53
59
58
69

68
69
48
47
61
49
58
57
60
71

58
42
59
56
52
59
59
67

1965
1966
1967
1968
1969
1970
1971
1972
1973
1974

73
100
103
103
122
110
78
91
126
117

76
102
102
102
122
109
80
93
126
116

77
108
99
104
123
103
80
95
127
117

78
104
100
106
124
100
80
96
125
120

81
105
99
106
124
94
81
98
126
119

82
106
99
106
120
92
84
99
127
119

82
106
97
109
119
89
83
101
129
118

85
105
100
111
117
88
84
105
126
114

88
103
99
113
124
87
83
106
125
107

91
103
101
119
122
81
84
111
127
99

97
103
100
119
119
81
86
113
126
91

99
102
101
117
115
81
87
123
121

75
103
101
103
122
107
79
93
126
117

80
105
99
106
123
95
82
98
126
119

85
105
99
111
120
88
83
104
127
113

96
103
101
118
119
81
86
116
125
92

84
104
100
110
121
93
82
103
126
110

1975
1976
1977
1978
1979
1980
1981
1982

77
87
105
138
161
154
128
106

76
93
106
139
158
151
129
103

74
94
108
141
156
145
125
96

74
91
109
146
155
122
118

74
94
112
144
154
112
118
87

81
96
114
147
153
115
121
85

83
97
122
150
155
117
119
78

83
94
120
152
159
122
112
73

83

121
149
155
118
123
83

128
161
167
127
110
76

87
99
133
161
158
134
111
78

105
140
165
159
130
109
83

76
91
106
139
158
150
127
102

76
94
112
146
154
116
119
87

83
96
121
150
156
119
118
78

86
100
134
162
161
130
110
79

80
95
118
149
158
129
119

46. Index irfhei^waifed adverting!
[1967=100]

%

x of industrial
[1967=100)

Average for period

1947
1948
1949
1950
1951
1952
1953
1954

m ~
40.8
40.3
39.9
48.8
49.3
54.6
51.4

39.1
40.9
39.9
40.0
49.1
49.6
54.9
51.6

39.3
40.4
39.1
41.3
49.4
49.7
55.3
51.3

39.0
40.5
38.9
42.7
49.4
49.3
55.6
51.0

39.2
41.2
38.3
43.7
49.3
48.8
55.9
51.3

39.2
41.7
38.3
45.0
49.0
48.4
55.6
51.4

38.9
41.7
38.2
46.4
48.3
47.6
56.3
51.5

39.2
41.6
'38.6
47.9
47.8
50.7
56.0
51.4

39.5
41.2
38.9
47.6
48.1
52.5
54.9
51.5

39.9
41.6
37.5
47.9
48.1
53.0
54.4
52.1

40.4
41.0
38.5
47.8
48.4
54.1
53.1
53.0

40.6
40.6
39.2
48.7
48.7
54.4
51.8
53.6

39.1
40.7
39.8
40.4
49.1
49.5
54.9
51.4

39.1
41.1
38.5
43.8
49.2
48.8
55.7
51.2

39.2
41.5
38.6
47.3
48.1
50.3
55.7
51.5

40.3
41.1
38.4
48.1
48.4
53.8
53.1
52.9

39.4
41.1
38.8
44.9
48.7
50.6
54.8
51.9

1955
1956
1957
1958
1959
1960
1961
1962
1963
1964

54.9
61.1
62.5
57.4
62.5
68.8
63.0
70.2
73.8
79.0

55.6
60.5
63.1
56.2
63.7
68.2
62.9
71.3
74.6
79.5

56.9
60.5
63.1
55.5
64.7
67.6
63.3
71.7
75.1
79.5

57.5
61.0
62.2
54.6
66.0
67.0
64.6
71.9
75.8
80.8

58.5
60.5
62.0
55.1
67.0
67.0
65.6
71.8
76.7
81.3

58.5
59.9
62.1
56.5
67.1
66.1
66.5
71.6
76.9
81.5

59.0
58.1
62.5
57.4
65.5
65.9
67.3
72.3
76.6
82.0

58.9
60.5
62.5
58.5
63.3
65.8
67.9
72.4
76.8
82.6

59.3
61.8
62.0
59.1
63.2
65.1
67.8
72.8
77.5
82.9

60.3
62.4
61.1
59.8
62.7
65.0
69.1
72.9
78.1
81.7

60.5
61.8
59.6
61.5
63.1
64.1
70.2
73.2
78.4
84.2

60.7
62.7
58.5
61.6
67.0
62.9
70.8
73.2
78.3
85.2

55.8
60.7
62.9
56.4
63.6
68.2
63.1
71.1
74.5
79.3

58.2
60.5
62.1
55.4
66.7
66.7
65.6
71.8
76.5
81.2

59.1
60.1
62.3
58.3
64.0
65.6
67.7
72.5
77.0
82.5

60.5
62.3
59.7
61.0
64.3
64.0
70.0
73.1
78.3
83.7

58.5
61.1
61.9
57.9
64.8
66.2
66.7
72.2
76.5
81.7

1965
1966
1967
1968
1969
1970
1971
1972
1973
1974

86.2
94.4
99.8
103.7
109.5
109.1
108.1
114.6
126.3
129.9

86.7
95.0
99.0
104.3
110.2
108.8
108.0
115.3
127.8
129.6

87.8
96.3
98.5
104.7
110.8
108.8
108.0
116.5
128.5
130.0

88.2
96.5
99.2
104.9
110.6
108.6
108.5
117.7
128.5
129.9

88.9
97.4
98.7
106.2
110.3
108.3
109.1
118.1
129.6
131.3

89.6
97.9
98.4
106.6
111.2
108.1
109.6
118.7
129.9
131.9

90.4
98.4
98.7
106.5
111.8
108.4
109.8
119.3
130.4
131.8

90.8
98.5
100.0
107.1
112.3
108.3
108.9
120.7
130.4
131.7

91.1
99.4
100.3
107.1
112.3
107.6
110.3
121.8
131.1
131.8

92.0
100.1
101.2
107.4
112.5
105.4
110.9
123.4
131.4
129.5

92.4
99.4
102.6
108.6
111.4
104.8
111.3
124.4
131.6
124.9

93.5
99.6
103.5
108.8
111.2
107.2
112.3
125.8
131.3
119.3

86.9
95.2
99.1
104.2
110.2
108.9
108.0
115.5
127.5
129.8

88.9
97.3
98.8
105.9
110.7
108.3
109.1
118.2
129.3
131.0

90.8
98.8
99.7
106.9
112.1
108.1
109.7
120.6
130.6
131.8

92.6
99.7
102.4
108.3
111.7
105.8
111.5
124.5
131.4
124.6

89.8
97.8
100.0
106.3
111.1
107.8
109.6
119.7
129.8
129.3

1975
1976
1977
1978
1979
1980
1981
1982

115.2
126.1
133.7
140.0
152.0
153.0
151.4
140.7

112.7
128.1
134.5
140.3
152.5
152.8
151.8
142.9

111.7
128.7
136.3
142.1
153.5
152.1
152.1
141.7

112.6
129.0
137.1
144.4
151.1
148.2
151.9
140.2

113.7
130.1
138.0
144.8
152.7
143.8
152.7
139.2

116.4
130.7
138.9
146.1
153.0
141.4
152.9
138.7

118.4
131.2
139.0
147.1
153.0
140.3
153.9
138.8

121.0
132.0
139.3
148.0
152.1
142.2
153.6
138.4

122.1
131.3
139.6
148.6
152.7
144.4
151.6
137.3

122.2
131.3
140.1
149.7
152.7
146.6
149.1
135.7

123.5
132.6
140.3
150.6
152.3
149.2
146.3
134.9

124.4
133.6
140.5
151.8
152.5
150.4
143.4
135.2

113.2
127.6
134.8
140.8
152.7
152.6
151.8
141.8

114.2
129.9
138.0
145.1
152.3
144.5
152.5
139.4

120.5
131.5
139.3
147.9
152.6
142.3
153.0
138.2

123.4
132.5
140.3
150.7
152.5
148.7
146.3
135.3

117.8
130.5
138.2
146.1
152.5
147.1
151.0
138.6

See footnotes at end of this part




83

Year

Monthly
Jan.

Feb.

Mar.

Apr.

May

June

July

Aug.

47c. Change in index of industrial production over 1-month spans4
[Annual rate, percent]
6.3
0
9.7
3.0
22.8
15.6
0
-2.8
-6.0
-17.0
0
-3.1
13.3
49.2
32.0
42.2
44.4
46.5
-7.1
0
-2.4
-15.9
-11.7
-9.4
-9.2
-11.5
-18.1
113.2
-6.3
16.2
6.7
6.7
-6.2
2.4
2.4
-2.3
-6.8
7.3

1947
1948
1949
1950
1951
1952
1953
1954

16.8
6.1
-8.5
23.7
2.5
15.8
4.5
-8.9

6.3
3.0
-11.3
3.0
7.6
7.6
6.8
4.8

6.3
-13.7
-21.6
46.8
7.6
2.4
9.1
-6.8

1955
1956
1957
1958
1959
1960
1961
1962
1963
1964

33.3
8.2
-3.8
-20.4
19.0
37.5
1.9
-9.7
10.3
11.3

16.4
-11.2
12.1
-22.4
25.6
-10.0
-1.9
20.5
13.8
7.9

32.0
0
0
-14.0
20.6
-10.1
7.9
6.9
8.3
0

13.4
10.4
-15.8
-17.8
27.0
-10.1
27.6
3.4
11.8
21.5

23.0
-9.4
-3.8
11.6
19.8
0
20.2
-1.7
15.2
7.7

0
-11.3
2.0
35.1
1.8
-15.0
17.8
-3.3
3.2
3.0

10.8
-30.7
8.0
20.9
-25.1
-3.6
15.4
12.4
-4.6
7.6

-2.0
62.5
0
25.6
-33.6
-1.8
11.2
1.7
3.2
9.1

1965
1966
1967
1968
1969
1970
1971
1972
1973
1974

15.0
12.2
2.4
2.3
8.0
-20.5
10.6
27.5
4.9
-12.1

7.2
7.9
-9.2
7.2
7.9
-3.3
-1.1
7.6
15.2
-2.7

16.3
17.7
-5.9
4.7
6.7
0
0
13.2
6.8
3.8

5.6
2.5
8.9
2.3
-2.1
-2.2
5.7
13.1
0
-.9

9.9
11.8
-5.9
15.9
-3.2
-3.3
6.8
4.2
10.8
13.7

9.9
6.3
-3.6
4.6
10.2
-2.2
5.6
6.3
2.8
5.6

11.3
6.3
3.7
-1.1
6.7
3.4
2.2
6.2
4.7
-.9

5.4
1.2
17.0
7.0
5.5
-1.1
-9.4
15.0
0
-.9

1975
1976
1977
1978
1979
1980
1981
1982

-34.3
17.7
9
-4.2
1.6
4.0
8.3
-20.4

-23.1
20.8
7.4
2.6
4.0
-1.6
3.2
20.5

-10.1
5.8
17.3
16.5
8.2
-5.4
2.4
-9.6

10.1
2.8
7.3
21.2
-17.2
-26.8
-1.6
-12.0

12.4
10.7
8.2
3.4
13.5
-30.3
6.5
-8.2

32.5
5.7
8.1
11.3
2.4
-18.3
1.6
-4.2

22.7
4.7
.9
8.5
0
-8.9
8.1
.9

Sept.

Oct.

Nov.

Dec.

IQ_

Quarterly
HO
IHQ

IV Q

Annual

Average for period

9.6
-10.9
9.7
-7.3
7.8
52.0
-21.2
2.4

12.9
12.3
-35.6
7.8
0
12.0
-10.4
14.9

16.1
-16.0
37.1
-2.5
7.7
28.0
-25.2
22.8

6.1
-11.1
24.1
25.1
7.7
6.9
-25.7
14.5

9.8
-1.5
-13.8
24.5
5.9
8.6
6.8
-3.6

-0.8
13.8
-7.7
41.1
-3.2
-10.0
2.4
1.0

3.5
-4.6
6.6
27.9
-6.6
49.0
-3.7
.8

11.7
-4.9
8.5
10.1
5.1
15.6
-20.4
17.4

6.0
.7
-1.6
25.9
.3
15.8
-3.7
3.9

8.5
29.1
-9.2
13.0
-1.9
-12.0
-1.8
6.8
11.5
4.4

22.2
12.3
-16.1
15.2
-9.1
-1.8
25.6
1.7
9.7
-16.1

4.1
-10.9
-25.8
40.0
7.9
-15.4
20.9
5.1
4.7
43.6

4.0
18.9
-20.0
2.0
105.4
-20.3
10.8
0
-1.5
15.2

27.2
-1.0

12.1
-3.4
-5.9
9.6
16.2
-8.4
21.9
-.5
10.1
10.7

5.8
20.3
-.4
19.8
-20.2
-5.8
8.3
7.0
3.4
7.0

10.1
-20.6
19.1
34.7
-12.5
19.1
2.3
4.3
14.2

13.8
5.7
-6.0
7.4
13.1
-5.2
13.0
3.6
7.1
9.6

4.0

12.5

5.3

15.3

8.8

-8.1
17.9
14.3
-11.1
-6.6

8.5
6.9
-.2
7.6
1.6

6.9
6.3
8.1
2.0
4.1

11.5

3.7
0
0

11.3

3.4
2.2

2.4

11.0

2.2

2.8

-18.9
21.7
5.8
2.6
5.9
10.8
6.4
12.8
12.6
-4.2

4.7
7.5

6.6
.9

-19.0

-35.2

-2.1
31.2
11.3
14.4
-2.7
-42.3

29.8
7.6
2.6
7.6
-6.8
17.5
-2.3
-3.4

11.5
-6.2
2.6
5.0
4.8
20.2
-14.6
-9.1

1.0
0
4.4
9.3
0
19.9
-18.1
-13.1

13.5
12.5
1.7
7.5
-3.1
23.5
-20.3
-6.8

9.1
9.4
1.7
10.0
1.6
10.1
-21.4
2.7

-22.5
14.8
8.5
5.0
4.6
-1.0
4.6
-3.2

18.3
6.4
7.9
12.0
-.4
-25.1
2.2
-8.1

-7.5
16.6
11.5

-22.0

6.7

17.0

2.8

4.4

10.2

1.8

-7.9

-2.6

3.2

-3.7

9.0

6.0
7.9
4.5
6.1

16.1

47c. Change in index of industrial production o
[Annual rate, percent]

6.8

10.9

13.9

3.8
-.3

-32.2

9.8
6.7
4.3
5.2
2.4
-2.8
5.0
12.2
4.5
-7.5

21.3
2.0
2.0
7.0
-.7
9.6
-2.9
-3.9

7.9
7.3
2.6
8.9
-.5
17.8
-19.9
-5.7

6.3
7.6
5.3
8.2
.8
.3
-4.0
-5.2

-1.7

3.1

11.0

1.0

13.4

6.6

-3.7

.9
7.5
.6

Average for period

1947
1948
1949
1950
1951
1952
1953
1954

9T~
5.0
-10.3
16.5
11.3
10.3
6.0
-10.8

9.7
-2.0
-14.0
23.2
5.9
8.5
6.8
-3.8

1.0
-2.9
-13.2
31.2
5.0
0
7.5
-3.1

1.0
3.0
-15.1
42.5
1.6
-6.3
7.5
-2.3

-1.0
13.5
-7.9
40.9
-3.2
-10.1
2.2
.8

-1.0
12.4
-7.0
39.4
-8.6
-13.1
5.1
4.0

0
3.9
3.2
44.3
-11.6
16.5
.7
.8

3.1
-4.7
6.4
25.2
-7.1
38.4
-4.9
.8

10.7
-1.0
-7.1
13.6
-1.6
53.7
-12.8
4.7

12.8
-5.6
-1.0
-.8
5.1
29.6
-19.2
13.0

11.6
-5.7
3.1
9.6
5.1
15.3
-20.7
17.3

9.3
-11.9
28.2
7.7
10.4
12.6
-20.3
23.3

6.8
0
-12.5
23.6
7.4
6.3
6.8
-5.9

-0.3
9.6
-10.0
40.9
-3.4
-9.8
4.9
.8

4.6
-.6
.8
27.7
-6.8
36.2
-5.7
2.1

11.2
-7.7
10.1
5.5
6.9
19.2
-20.1
17.9

5.6
.3
-2.9
24.4
1.0
13.0
-3.5
3.7

1955
1956
1957
1958
1959
1960
1961
1962
1963
1964

21.1
0
8.7
-20.9
15.1
36.5
-7.3
6.4
7.9
5.7

27.0
-1.3
2.6
-19.0
21.7
3.6
2.6
5.2
10.8
6.3

20.3
-.7
-1.9
-18.1
24.4
-10.1
10.6
10.0
11.3
9.4

22.6
0
-6.8
-7.6
22.4
-6.9
18.3
2.8
11.7
9.4

11.7
-3.9
-6.2
7.4
15.7
-8.6
21.8
-.6
9.9
10.4

10.9
-17.7
1.9
22.1
-3.0
-6.4
17.8
2.2
4.3
6.1

2.8
0
3.3
27.1
-20.3
-7.0
14.8
3.4
.5
6.6

5.6
13.3
-.6
19.7
-21.3
-5.9
8.1
6.9
3.2
7.0

9.1
33.1
-8.7
17.8
-16.0
-5.4
11.1
3.4
8.1
-1.5

11.3
8.9
-17.3
22.1
-1.3
-9.9
14.3
4.5
8.6
8.0

9.8
6.0
-20.7
18.0
26.3
-12.8
18.9
2.2
4.2
11.6

5.4
.6
-22.1
19.3
45.0
-11.8
6.5
5.0
4.7
23.9

22.8
-.7
3.1
-19.3
20.4
10.0
2.0
7.2
10.0
7.1

15.1
-7.2
-3.7
7.3
11.7
-7.3
19.3
1.5
8.6
8.6

5.8
15.5
-2.0
21.5
-19.2
-6.1
11.3
4.6
3.9
4.0

8.8
5.2
-20.0
19.8
23.3
-11.5
13.2
3.9
5.8
14.5

13.1
3.2
-5.6
7.3
9.1
-3.7
11.5
4.3
7.1
8.6

1965
1966
1967
1968
1969
1970
1971
1972
1973
1974

12.4
11.7
-1,6
6.8
6.0
-9.0
12.8
15.2
11.4
-5.9

12.8
12.5
-4.3
4.7
7.6
-8.4
3.0
15.8
8.9
-3.9

9.6
9.2
-2.4
4.7
4.1
-1.8
1.5
11.3
7.2
0

10.5
10.5
-1.2
7.5
.4
-1.8
4.1
10.1
5.8
5.4

8.5
6.8
-.4
7.5
1.5
-2.5
6.1
7.8
4.4
6.0

10.4
8.1
-2.0
6.2
4.4
-.7
4.9
5.5
6.0
6.0

8.8
4.6
5.4
3.4
7.5
0
-.7
9.1
2.5
1.2

6.9
6.3
7.9
1.9
4.0
-1.8
2.6
10.9
3.7
-.3

7.3
7.1
10.5
3.4
2.5
-10.6
4.1
14.5
3.1
-6.8

7.2
3.7
10.8
5.7
-3.2
-12.3
9.1
12.8
3.7
-19.1

11.0
.8
13.4
6.5
-3.9
-1.5
7.5
13.8
.6
-32.9

10.9
-1.2
10.3
8.1
-11.6
10.6
14.0
9.7
-4.5
-37.4

11.6
11.1
-2.8
5.4
5.9
-6.4
5.8
14.1
9.2
-3.3

9.8
8.5
-1.2
7.1
2.1
-1.7
5.0
7.8
5.4
5.8

7.7
6.0
7.9
2.9
4.7
-4.1
2.0
11.5
3.1
-2.0

9.7
1.1
11.5
6.8
-6.2
-1.1
10.2
12.1
-.1
-29.8

9.7
6.7
3.9
5.5
1.6
-3.3
5.8
11.4
4.4
-7.3

1975
1976
1977
1978
1979
1980
1981
1982

-33.7
15.8
5.9
0
5.1
1.3
7.2
-9.0

-23.1
14.6
8.3
4.6
4.6
-1.0
4.6
-4.7

-8.7
9.5

13.5
.3
3.2
7.3
-.8
19.2
-11.9
-8.6

8.5
1.8
2.9
7.2
.5
21.2
-17.7
-9.7

7.7
7.2
2.6
8.9
-.5
17.7
-19.9
-6.0

13.4
7.5
-.3
6.3
.8
13.8
-20.7
5.1

-21.8
13.3
8.3
5.9
2.5
-3.9
4.4
-5.0

14.6
6.6
8.1
11.0
1.4
-22.2
3.3
-7.4

21.0
2.7
3.0
7.8
-1.1
7.9
-4.3
-5.0

9.9
5.5
1.7
7.5
.3
17.6
-19.4
-3.5

5.9
7.0
5.3
8.0
.8
-.2
-4.0
-5.2

1947
1948
1949
1950
1951
1952
1953
1954

91.95
93.57
92.44
89.16
98.69
100.52
103.81
100.48

91.77
92.96
92.04
88.72
98.99
101.00
104.34
100.86

91.72
93.48
91.28
90.40
99.38
100.48
104.67
100.59

21.1
28.3
22.3
17.9
6.0
1.8
7.0
6.4
3.8
5.7
7.9
2.0
9.1
7.7
7.0
11.7
5.1
-1.3
-1.6
-19.7
-4.4
-25.3
5.4
-3.4
2.4
2.1
-3.9
-4.0
-2.3
-8.2
48.Employee hours in nonagricultural estaWfehments
[Annual rate,bWons of employee hours]
91.22
91.31
91.78
91.30
91.33
94.06
94.00
93.11
93.84
92.60
89.37
90.41
89.32
89.69
90.94
92.32
94.33
96.34
93.32
90.99
99.75
99.42
99.71
99.74
99.95
100.46
99.19
100.72
99.70
100.02
104.06
103.35
104.05
104.19
104.59
99.67
99.45
99.26
99.69
100.13

92.02
93.93
89.54
96.33
99.19
102.35
102.57
99.36

92.49
93.55
87.91
96.89
99.16
102.80
103.29
99.79

92.78
93.65
88.48
97.44
99.60
103.12
102.29
100.93

93.37
93.53
88.89
97.19
99.93
103.94
101.66
101.20

91.81
93.34
91.92
89.43
99.02
100.67
104.27
100.64

91.47
93.18
90.35
92.21
99.81
100.06
104.28
99.83

Average for period
91.52
92.88
93.58
94.00
88.43
89.41
97.17
95.67
99.56
99.44
103.29
100.75
102.41
103.32
100.64
99.36

91.92
93.52
90.03
93.62
99.46
101.19
103.57
100.12

1955
1956
1957
1958
1959
1960
1961
1962
1963
1964

101.24
106.88
107.71
104.90
106.43
110.00
107.72
109.91
113.23
114.80

101.87
107.09
108.51
103.14
106.64
110.14
107.81
111.36
113.40
116.59

103.11
106.67
108.22
102.80
107.65
109.78
107.82
112.02
113.50
116.75

103.21
107.38
107.63
101.83
108.57
110.32
107.65
112.58
114.34
117.43

104.41
107.12
107.65
102.04
108.94
110.03
108.27
112.80
114.66
117.47

104.58
107.39
107.56
102.14
109.42
109.89
108.91
112.90
114.91
117.72

104.80
106.10
107.61
102.45
109.08
109.89
109.29
112.94
115.11
118.06

104.98
107.39
107.64
103.01
108.18
109.81
109.70
113.22
115.18
118.31

105.62
107.53
107.19
104.03
107.84
109.24
109.24
113.57
115.56
118.31

105.89
108.08
106.06
104.07
107.71
108.99
110.06
113.09
115.93
118.72

106.46
108.23
105.72
105.03
108.20
109.52
110.87
113.38
115.87
119.67

106.80
108.56
105.54
105.42
109.95
106.79
110.68
113.21
115.84
120.60

102.07
106.88
108.15
103.61
106.91
109.97
107.78
111.10
113.38
116.05

104.07
107.30
107.61
102.00
108.98
110.08
108.28
112.76
114.64
117.54

105.13
107.01
107.48
103.16
108.37
109.65
109.41
113.24
115.28
118.23

106.38
108.29
105.77
104.84
108.62
108.43
110.54
113.23
115.88
119.66

104.41
107.37
107.25
103.40
108.22
109.53
109.00
112.58
114.79
117.87

1965
1966
1967
1968
1969
1970
1971
1972
1973
1974

120.96
126.60
131.41
132.44
137.62
139.91
137.97
141.16
146.64
151.12

121.64
127.74
130.70
133.68
137.82
139.97
137.34
141.86
147.91
151.55

122.06
128.42
130.61
133.61
138.52
140.26
137.84
142.06
148.61
151.22

122.11
128.38
130.55
133.76
138.72
139.83
137.95
142.87
148.82
149.09

122.87
128.58
130.92
134.48
139.38
139.07
138.33
142.93
149.19
151.73

122.76
129.53
131.23
134.97
139.58
138.75
138.56
143.53
149.52
151.58

123.13
129.49
131.43
135.52
139.83
139.04
138.09
143.25
149.87
151.43

123.62
129.86
131.77
135.86
140.33
138.54
138.63
143.92
150.01
151.33

123.88
129.80
132.34
136.14
140.46
134.34
138.41
144.89
150.29
151.47

124.60
130.44
132.07
136.46
140.56
137.31
138.02
144.96
149.81
151.91

125.36
130.76
133.02
136.42
140.20
136.78
139.80
146.00
151.57
149.78

126.16
130.98
133.11
136.90
140.73
137.77
140.26
146.10
151.44
148.06

121.55
127.59
130.91
133.24
137.99
140.05
137.72
141.69
147.72
151.30

122.58
128.83
130.90
134.40
139.23
139.22
138.28
143.11
149.18
150.80

123.54
129.72
131.85
135.84
140.21
137.31
138.38
144.02
150.06
151.41

125.37
130.73
132.73
136.59
140.50
137.29
139.36
145.69
150.94
149.92

123.26
129.22
131.60
135.02
139.48
138.46
138.43
143.63
149.47
150.86

1975
1976
1977
1978
1979
1980
1981
1982

147.82
151.04
152.19
159.02
168.01
171.81
171.56
164.25

146.29
150.70
154.79
160.54
168.38
171.37
170.07
168.40

145.31
150.49
154.74
162.16
169.61
170.63
170.79
167.74

145.37
149.63
155.41
163.93
166.05
169.80
169.70
167.21

145.76
151.29
156.49
164.13
169.43
168.88
170.70
167.61

145.31
151.07
157.08
165.17
170.33
168.30
170.94
166.58

145.59
151.61
157.65
165.57
170.49
167.29
171.19
166.05

147.13
151.52
157.95
165.78
170.43
168.11
171.09
165.46

147.54
152.00
158.67
166.02
170.73
168.76
167.31
165.30

147.80
152.00
159.29
166.37
170.39
169.25
169.68
164.29

148.37
152.56
159.58
167.87
170.38
169.19
168.66
163.24

149.22
153.13
159.49
167.92
170.81
170.22
168.58
164.01

146.47
150.74
153.91
160.57
168.67
171.27
170.81
166.80

145.48
150.66
156.33
164.41
168.60
168.99
170.45
167.13

146.75
151.71
158.09
165.79
170.55
168.05
169.86
165.60

148.46
152.56
159.45
167.39
170.53
169.55
168.97
153.85

146.79
151.42
156.94
164.54
169.59
169.47
170.02
165.84

84



ro.6
13.2
-2.3
-12.0
1.3
-1.4

3.6
6.4
10.8
13.5
.5
-21.6
2.4
-10.0

Year

Quarterly

Monthly
Jan.

Feb.

Mar.

Apr.

May

June

July

Aug.

Sept.

Oct

Nov.

Dec.

48c. Change in employee hours in nonagricuKural estabfishments over 1-month spans4
[Annual rate, percent]

1947
1948
1949
1950
1951
1952
1953
1954
1955
1956
1957
1958
1959
1960
1961
1962
1963
1964
1965
1966
1967
1968
1969
1970
1971
1972
1973
1974
1975
1976
1977
1978
1979
1980
1981
1982

-2.3
-7.5
-5.1
-5.8
3.7
5.9
6.3
4.6
7.7
2.4
9.3
-18.4
2.4
1.5
1.0
17.0
1.8
20.4

2.6
-13.1
3.7
20.2
7.3
-1.5
-13.1
.5
9
-9.0
-7.0
12.1
5
11.0
-8.0
2
-10.3
3.6
4.3
4.0
-5.9
6.5
-6.8
1.8
8.0
4.5
-2.5
-1.9
15.7
-7.1
-3.5
6
7.3
9.9
-26.8

1947
1948
1949
1950
1951
1952
1953
1954
1955
1956
1957
1958
1959
1960
1961
1962
1963
1964
1965
1966
1967
1968
1969
1970
1971
1972
1973
1974
1975
1976
1977
1978
1979
1980
1981
1982

0.8
-6.7
1.1
6.5
5.7
4.8
-5.5
3.8
2.4
1.0
-9.4
6.3
7.4
-6.1
1.8
1
2.5
6.7
7.8
-.2
2.0
4.2
-.7
1.6
6.0
5.3
-.1
-9.0
6.4
6.0
2.4
1.2
2.3
2.1
-.6

1947
1948
1949
1950
1951
1952
1953
1954
1955
1956
1957
1958
1959
1960
1961
1962
1963
1964
1965
1966
1967
1968
1969
1970
1971
1972
1973
1974
1975
1976
1977
1978
1979
1980
1981
1982

339.0
336.1
344.5
353.3
386.0
398.7
426.2
426.3
439.6
471.9
485.0
479.1
496.6
520.4
519.2
544.5
563.6
588.1
630.3
670.2
700.7
723.6
763.1
785.2
794.8
824.9
878.7
893.5
860.0
888.6
927.1
982.3
1,038.9
1,056.7
1,061.3
1,074.6

7.0
11.4
-6.3
11.8
1.8
.5
-5.3
6.1
10.9
3.5
-11.7
-2.7
22.5
12.1
2.7
-3.0
-9.9
34.9

-5.4
-1.2
-0.7
0.4
-6.0
11.0
6.1
-10.7
-.8
6.9
6.8
2.8
-.9
9.8
-4.4
.7
-9.5
-6.8
-9.1
-4.8
2.3
8.1
13.8
28.8
25.2
19.0
13.8
-.1
7.1
-3.4
4.8
-2.4
-.1
-.4
-2.7
-5.4
-8.7
20.2
5.4
-6.0
21.2
-6.0
-.9
-7.8
-5.9
-1.6
-8.7
3.9
1.5
-5.4
-2.3
-5.4
.2
-2.9
1.2
-3.2
1.2
2.6
2.1
15.6
14.9
2.0
7.6
8.3
-4.6
-2.9
-13.5
15.6
3.1
1.6
-3.2
.2
-6.3
.6
.3
-1.0
-4.9
-3.9
2.5
-10.8
3.7
6.8
1.2
12.6
12.0
4.2
10.8
-3.7
-9.5
5.4
-3.7
-3.9
-3.1
6.1
-.9
-1.5
0
-6.1
.1
7.1
-1.9
4.6
7.3
4.3
-4.9
7.3
2.4
6.2
3.0
1.1
.4
3.8
1.1
3.4
9.3
.7
2.6
2.1
4.0
1.7
.4
7.2
2.6
2.6
3.5
0
3.7
4.2
.5
4.9
7.7
-1.1
2.6
-.4
6.6
-.4
3.5
1.9
9.2
-.6
1.8
-.8
-.5
3.1
3.5
2.9
5.3
5.0
-.6
1.4
3.1
6.7
4.5
2.5
2.2
6.3
1.7
4.4
5.9
1.7
1.1
2.5
2.5
-3.6
-4.2
-2.7
-30.9
-6.3
-4.0
4.5
1.0
4.8
2.0
-1.9
3.4
-2.3
1.7
7.1
5.8
5.2
8.4
.5
2.8
5.8
1.7
1.1
2.7
2.3
3.0
-1.2
-2.6
-15.7
-.8
1.1
23.4
-1.2
.5
2.3
13.5
3.4
-7.7
-3.6
3.3
-6.6
4.4
-.7
3.9
-1.7
-1.7
14.2
5.3
4.4
2.3
5.6
4.6
-.4
8.7
13.9
2.9
1.5
1.8
7.9
12.8
1.5
-22.5
1.1
-.4
2.1
6.6
27.4
9.1
-5.7
6.0
4.7
-6.3
-5.1
-4.0
-7.0
-7.4
-.7
-23.5
7.3
5.2
1.7
1.8
-3.7
-1.2
2.9
-4.2
-4.6
-7.1
-3.8
48c. Change in employee hours in nonagricurtural estabSshments over 3-month spans4
[Annual rate, percent]

-7.0
-7.4

12
-A
IA
IZ
1.3
■..1

U
-11.9
.5
-1.4
-;:.7
9.4
-!>.0
3.9
4.2
7.2

IU
-;».4
;>.9
.9
30.0
-3.3
.6
-3.8
3.5

3.8
1.3
8.1
7.0
5.5
3.8
-11.0
14.6
6.7
1.7
-3.8
11.6
5.6
6.0
9.2
3.1
-.6
10.0
7.6
3.0
9.0
-.4
-3.0
-4.5
16.6
9.0
15.0
-15.6

4.7
4.5
2.2
11.4
-A

M_

0.7
-9.2
7.7
9.6
2.4
2.9
-3.9
7.9
-.4
-1.0
-9.8
8.8
-.6
4.0
5.4
1.0
3.9
4.9
7.4
-1.0
1.8
4.9
-1.3
.3
5.3
7.1
-.5
-7.1
3.8
5.0
7.1
4.1
-.3
1.7
1.2

0.4
2.0
-6.8
13.6
1.5
-2.9
-1.8
-3.5
6.0
2.8
-2.4
-2.4
6.8
.5
4.2
3.2
5.1
3.4
2.4
3.6
2.0
4.2
3.1
-4.2
2.1
4.3
2.5
2.2
.1
2.0
6.2
7.8
3.8
-5.3
.5
-2.6

IV Q
Average for period
1.3
.4
-.6
14.2
-2.2
11.8
-6.0
-1.3
4.1
1.2
-1.3
7.7
-5.6
-2.3
1.3
2.4
2.3
2.0
3.7
.8
3.4
3.5
2.6
-10.9
-.4
4.0
2.1
-.3
6.4
2.5
4.1
2.1
.9
1.2
-7.5
-3.1

Annual

6.0
-1.6
-2.0
3.7
3.0
6.4
-3.1
7.7
4.6
3.9
-5.9
5.5
8.5
-7.6
5.5
-1.2
1.0
8.0
7.6
3.7
2.5
2.3
.8
11.5
5.8
3.5
3.4
-8.3
4.6
3.0
2.1
4.8
.2
3.6
3.6
-2.9

0.3
-4.6
9.8
3.0
4.4
-2.0
-.3
5.7
1.9
-2.6
.3
4.6
-2.5
3.8
2.5
2.4
4.3
4.6
3.9
1.7
2.9
2.8
-1.2
2.0
4.2
3.8
-1.7
1.0
2.8
4.4
5.4
2.3
-.2
-.4
-1.9

2.0
.7
-3.8
14.5
-1.9
9.2
-3.9
-.5

5.9
-2.6
-.3
5.3
3.1
6.8
-6.0
6.8

0
-4.6
10.2
2.4
3.8
-2.0
-.2

Average for period

0.5
-9.3
7.0
9.3
2.2
2.8
-4.1

-2.8
-4.1
-6.3
8.5
5.2
-2.0
3.0
-1.4

-1.9
.6
-6.9
17.2
3.1
-2.1
-1.1
-4.6

0.3
1.5
-6.8
13.6
1.5
-3.1
-1.8
-3.5

0
6.5
-6.9
15.5
-1.0
-3.3
-2.0
-2.7

-0.5
3.9
-4.5
18.6
-1.3
1.0
-2.7
-1.6

1.1
.4
-.7
13.5
-2.2
11.1
-6.1
-1.3

5.3
-2.2
-6.2
11.3
-2.2
15.4
-2.9
1.4

7.0
-1.5
-3.9
4.6
.7
9.9
-4.0
6.9

6.0
-1.7
-2.9
3.6
3.0
6.4
-3.5
7.6

4.8
-4.7
5.8
7.6
5.6
4.0
-10.4
5.9

-0.9
-7.4
5.5
7.0
2.0
3.5
-3.7

-0.5
2.9
-6.9
15.4
1.2
-2.8
-1.6
-3.6

7.8
-.5
-1.2
-10.0
8.7
-.6
3.9
4.9
1.0
3.2

8.0
1.9
-.3
-11.2
8.3
1.2
-.3
10.1
4.0
9.5

10.4
.1
-3.1
-4.2
8.9
-.4
1.7
5.3
4.5
3.1

5.8
2.7
-2.4
-2.5
6.7
.4
4.1
3.2
5.1
3.4

6.3
-4.7
-.1
2.5
1.9
-1.6
6.2
1.3
2.7
2.2

2.2
1.0
0
3.9
-2.8
-.8
5.4
1.5
1.8
2.9

4.0
.5
-1.4
7.6
-5.7
-2.3
1.2
2.4
2.3
2.0

4.2
7.7
-5.6
6.5
-4.9
-3.2
2.8
.5
2.9
2.3

5.8
3.2
-6.9
8.1
.1
-1.1
4.3
.6
2.4
4.7

4.5
3.9
-6.0
5.5
8.1
-8.7
5.4
-1.3
1.0
8.0

3.8
-1.4
-4.3
9.4
8.8
-4.6
-.5
.5
-3.8
7.8

6.5
1.3
-.2
-10.2
7.8
2.7
-.8
5.6
1.7
5.1

7.5
-.6
-1.9
-1.4
5.8
-.5
4.0
3.3
4.1
2.9

3.5
3.1
-2.3
6.0
-4.5
-2.1
3.1
1.5
2.3
2.4

4.7
1.9
-5.7
7.7
5.7
-4.8
3.1
-.1
-.1
6.8

5.6
1.4
-2.5
.5
3.7
-1.2
2.3
2.6
2.0
4.3

4.9
7.4
-1.1
1.5
4.8
-1.3
.2
5.2
7.1
-.6

3.9
5.7
-2.6
4.0
3.2
-.2
-.1
4.9
6.1
-5.3

4.1
2.7
.7
2.4
4.6
-2.5
2.9
3.1
3.5
.5

2.3
3.5
1.9
4.1
3.1
-4.2
2.1
4.2
2.5
1.0

3.4
3.5
2.7
5.4
3.2
-2.2
.4
1.1
2.9
6.4

2.5
4.0
2.6
4.2
2.8
-1.5
.9
2.8
2.2
-1.1

3.7
.8
3.4
3.5
2.5
-12.1
-.4
3.8
2.1
-.3

4.9
3.0
2.0
2.8
2.1
-4.9
-.2
4.9
-.2
1.3

5.8
2.8
3.8
1.7
-.4
-5.0
3.4
5.9
4.2
-4.0

7.6
3.7
2.3
2.3
.8
10.6
5.5
3.4
3.1
-8.7

6.6
3.0
1.1
3.4
-1.8
1.9
9.4
4.7
3.5
-10.3

5.2
7.0
-1.3
2.5
4.1
-.7
.6
5.4
6.2
-2.0

3.3
3.2
1.8
4.0
3.6
-3.0
1.8
2.8
3.0
2.6

3.7
2.6
2.7
3.5
2.5
-6.2
.1
3.8
1.4
0

6.7
3.2
2.4
2.5
-.5
2.5
6.1
4.7
3.6
-7.7

4.7
4.0
1.4
3.1
2.4
-1.8
2.1
4.2
3.5

-7.2
3.4
4.3
6.9
4.1
-.4
1.3
-2.0

-6.5
-3.7
8.7
12.9
-4.6
-4.6
-4.3
7.4

-1.4
1.6
4.5
9.2
2.5
-5.7
1.5
-1.9

0
1.6
6.2
7.6
1.7
-5.4
.4
-2.7

.6
5.4
5.9
4.1
11.1
-5.8
3.6
-2.7

3.8
.6
3.8
4.1
2.4
-1.8
.9
-5.0

6.3
2.5
4.1
2.1
.9
1.1
-8.2
-3.0

6.2
1.0
4.2
1.9
-.2
4.8
-3.5
-4.2

3.4
2.8
4.2
5.1
-.1
2.6
-5.6
-5.3

4.6
3.0
2.1
4.7
.2
3.5
3.1
-3.1

9.1
.5
-.7
4.0
3.4
5.6
-12.2
3.7

-7.6
2.0
6.3
7.4
.2
-.9
-.3
1.6

-.3
2.9
5.5
7.0
5.1
-5.6
1.8
-2.4

5.4
1.4
4.0
2.7
1.0
1.4
-3.6
-4.1

5.7
2.1
1.9
4.6
1.2
3.9
-4.9
-1.6

2.1
4.4
5.4
1.9
-.3
-1.7
-1.6

337.3
337.6
344.2
350.3
383.8
406.1
428.0
425.7

328.2
345.3
345.0
356.3
387.4
407.7
432.1
423.2

325.6
343.3
343.6
360.0
393.9
405.6
432.6
421.2

327.5
343.8
344.1
364.8
394.1
410.5
434.8
423.3

332.4
350.6
341.0
366.5
398.0
412.4
435.4
423.6

330.0
349.0
339.6
371.8
396.9
408.5
434.2
423.7

329.6
351.9
342.4
378.8
401.6
418.2
431.4
427.6

329.0
352.6
346.2
379.7
399.2
423.8
430.3
430.8

332.8
354.5
340.9
382.3
402.1
423.7
432.5
432.5

333.5
353.8
343.6
385.1
402.1
421.9
432.8
435.7

332.2
349.8
347.1
389.2
402.4
423.4
430.1
438.3

334.8
339.7
344.6
353.3
385.7
404.2
428.8
425.1

328.5
345.9
342.9
363.8
395.3
409.5
434.3
422.7

329.5
351.2
342.7
376.8
399.2
416.8
432.0
427.4

332.8
352.7
343.9
385.5
402.2
423.0
431.8
435.5

331.4
347.4
343.5
369.8
395.6
413.4
431.7
427.7

440.7
473.4
487.1
479.3
498.6
518.2
519.2
548.0
565.1
594.0

444.5
473.1
488.2
478.7
503.7
516.5
521.4
551.1
567.1
597.2

448.7
478.6
488.4
474.4
507.0
519.9
522.9
554.4
569.4
601.5

453.4
476.8
487.2
476.1
509.4
522.5
525.8
555.0
571.7
604.9

455.6
478.3
489.6
479.3
510.5
522.3
529.8
556.7
574.5
607.7

461.5
473.1
490.5
488.4
510.5
521.4
530.1
558.6
575.2
610.1

461.8
479.7
491.5
487.0
504.9
520.6
532.7
559.2
577.3
615.3

463.8
483.3
490.0
490.0
504.1
519.5
533.7
559.4
580.9
617.9

467.7
487.0
489.2
491.2
504.9
520.5
538.7
560.3
583.8
617.9

470.0
487.0
487.1
497.7
510.0
517.5
544.2
562.4
583.8
622.7

472.8
487.3
483.5
498.7
518.0
514.4
546.5
564.5
587.4
628.9

441.6
472.8
486.8
479.0
499.6
518.4
519.9
547.9
565.3
593.1

452.6
477.9
488.4
476.6
509.0
521.6
526.2
555.4
571.9
604.7

462.4
478.7
490.7
488.5
506.5
520.5
532.2
559.1
577.8
614.4

470.2
487.1
486.6
495.9
511.0
517.5
543.1
562.4
585.0
623.2

456.7
479.1
488.1
485.0
506.5
519.5
530.4
556.2
575.0
608.8

632.4
674.0
700.7
729.3
767.4
786.7
795.5
830.1
886.0
887.3

633.5
676.0
702.5
732.4
770.7
790.0
798.5
833.7
887.4
883.1

637.1
677.5
704.0
735.5
773.0
793.2
799.0
839.2
887.8
882.6

642.9
680.9
705.1
740.5
774.6
793.2
801.4
841.6
889.1
885.8

646.4
685.4
707.5
745.3
777.0
792.1
799.5
831.6
891.8
888.4

648.6
687.7
710.6
750.2
781.2
793.3
799.8
845.9
898.6
889.1

651.2
688.7
714.1
752.9
784.9
794.7
803.5
853.1
893.9
884.0

655.7
689.4
715.2
755.0
786.0
794.5
803.5
854.0
901.2
879.3

661.9
692.4
713.8
756.8
786.7
786.8
806.2
862.4
904.3
879.5

666.7
695.1
719.3
759.8
785.0
785.8
808.9
869.4
906.8
871.0

669.7
695.1
724.8
762.8
787.0
787.7
817.2
874.9
904.0
866.0

632.1
673.4
701.3
728.4
767.1
787.3
796.3
829.6
884.0
888.0

642.1
681.3
705.5
740.4
774.9
792.8
800.0
837.5
889.6
885.6

651.8
688.6
713.3
752.7
784.0
794.2
802.3
851.0
897.9
884.1

666.1
694.2
719.3
759.8
786.2
786.8
810.8
868.9
905.0
872.2

648.0
684.4
709.9
745.3
778.0
790.3
802.3
846.7
894.1
882.5

856.6
896.7
932.5
987.0
1,040.3
1,051.6
1,065.0
1,080.0

855.7
900.6
940.0
995.1
1,046.8
1,048.4
1,069.1
1,078.7

856.0
904.5
941.8
1,004.7
1,042.4
1,041.1
1,070.8
1,079.3

863.2
907.6
948.4
1,002.6
1,042.7
1,035.6
1,072.5
1,084.3

865.4
906.0
952.5
1,007.7
1,044.4
1,035.9
1,081.1
1,076.0

863.9
909.4
959.0
1,016.3
1,049.5
1,033.5
1,088.7
1,072.2

871.6
912.3
960.9
1,019.6
1,050.8
1,033.7
1,098.3
1,067.5

875.9
914.0
968.7
1,022.1
1,050.0
1,034.1
1,098.4
1,066.6

879.1
915.1
976.7
1,029.3
1,050.6
1,044.1
1,092.6
1,065.6

882.0
922.8
979.3
1,033.4
1,053.3
1,050.5
1,087.6
1,068.0

880.0
926.7
986.0
1,044.4
1,054.0
i.056.4
1,081.1
1,072.2

857.4
895.3
933.2
988.1
1,042.0
1,052.2
1,065.1
1,077.8

861.5
906.0
947.6
1,005.0
1,043.2
1,037.5
1,074.8
1,079.9

870.5
911.9
962.9
1,019.3
1,050.1
1,033.8
1,095.1
1,068.8

880.4
921.5
980.7
1,035.7
1,052.6
1,050.3
1,087.1
1,068.6

867.4
908.7
956.1
1,012.0
1,047.0
1,043.5
1,080.5
1,073.8

51.

See footnotes at end of this part.




2.1
0
4.8
2.6
-14
3.5
13.4
-7.1

7.9
-1.5
5.7
-3.0
4.0
10.0
-7.1
3.3
3.9
3.7
-2.0
4.5
21.2
-26.1
-2.0
-1.8
-.3
9.7
7.9
2.0
.8
4.3
4.6
9.0
4.0
.8
-1.0
-12.9
7.1
4.6
-.7
.4
3.1
7.6
-.6
5.8

6.3
-4.7
-1S.8

JJL

less transfer payments in 1972 d
' rate, bBons of dolars]

Average for period

85

Tear

Jan.

Feb.

Mar.

Apr-. _ May

June

July

Aug.

Sept.

Oct.

Nov.

^IQ

Dec.

51c. Change in personal income less transfer payments in 1972 dofars over 1-month spans4
[Annual rate, percent
1947
1948
1949
1950
1951
1952
1953
1954

-5.9

1955
1956
1957
1958
1959
1960
1961
1962
1963
1964
1965
1966
1967
1968
1969
1970
1971
1972
1973
1974

-1.0
-9.7
-6.6
24.7

8.2

5.2

-10.1

-1.7

3.6
-2.3
-5.5
-10.4
-4.9

3.0
3.9
5.3
.5
4.9

5.7

-5.0

11.8
-4.3
-1.9

0
8.0
3.2

1.4

12.7

2.7
.9

4.1
7.0
0
9.9
7.0
2.3
1.1
7.8

10.1
-2.0

.5
-2.7
11.4
11.9

5.3

1975
1976
1977
1978
1979
1980
1981
1982

5.5

15.0
-16.7
23.7
-9.4
-10.5

-28.0
31.1

2.8
22.6
11.9

4.8
12.1
-6.8
10.9

-.8
2.7
-1.5
13.0
-3.9

5.2
7.0
4.3
6.7
2.1
3.6
3.1
5.2
5.3
5.2
4.6
5.3
1.9

-13.1

10.4
-8.0

-8.0
12.4

-4.6
11.5

-1.3

.5

7.2
5.9
1.6

10.1
10.3

-5.6

-3.6

4.3
6.2

-1.4

-4.4
-6.1

3.1
5.7
-7.0

-5.5

5.3
7.8
4.7

-9.1
-6.7
-4.8
13.2
22.1
-6.0

1.4
-5.5
11.9
14.9

.5
-10.3

8.2
8.2
3.5
7.4
5.0
9.0

7.2
1.8
1.8

19.5
26.5
-10.3

17.2

5.7

.6

12.5

15.5

5.7
1.7
.9

6.3
6.1
13.3
-4.4
-2.9

4.4
5.8
6.2
6.9
1.3
5.0
7.0

-8.3
-5.3
-4.8
18.8
-3.3
-10.8
-3.3

.3

6.0
3.8
6.1
8.4
2.6
-.5
9.5
3.7
6.0
5.7

16.7
-12.3

5.3
9.4

10.6

18.1

2.2

2.5

-3.6

-1.9

25.3

-3.4
-12.4
-1.8

7.6
-1.9
-2.5

3.0
1.9
2.3

.7
4.2
1.5
4.8

10.7

6.7
8.2
4.2
8.1
3.8
-1.7
-2.8
-13.4

4.2
4.1
5.4
8.2
6.7
1.8
.5

4.9
1.8
6.1
4.4
5.8
2.1
5.7

22.7

3.7
3.6

9.5
.9

10.7
-6.1
-6.7

0
-2.0

.8

6.0
1.3
4.5

7.0
2.7
2.6
5.2
3.6
5.0
.8
8.2
.5
-.7

11.5

.4
5.3
2.3

10.6

3.1

-2.1

11.2

4.2
8.7

-2.1

4.6
8.5

12.2
-4.9
-8.0

-2.5

3.9
2.4
4.0
1.5
.2

1.9
.7

6.2
1.9
8.5
2.5
0
3.7
3.5
1.8
4.4

-6.2

5.3
6.3
2.0
.3

-2.7

1.9
5.7

10.1
-8.8

-4.2

.3

10.7

6.0
8.8

11.1
-5.1

14.8

2.6

2.4

6.7

-2.3

14.2

-16.9

2.9

8.5
9.1
-.3
6.3
4.8

9.9
9.2
0

-6.9
17.3
-3.0

9.4

2.3
.4
7.7
5.2
8.6
1.2
1.9
3.4
1.7
-.3
0
1.3

-4.6
-12.8
12.9
13.6

1

•9
4.4

17.2
-5.0
12.2
-1.4

.8
9.2

-7.2

6.3
8.5

7.4

-6.2

6.1
0

7.4
.7
-8.5

2.4

-3.8

20.5
-7.0

-1.1

11.8

-5.0
17.1
12.8
-6.7
13.0

5.8
.3
.8

1.9
6.2
0

4.6
0
9.7

12.0

9.1
4.8
9.6
4.9

9.6

5.3

-5.0

4.3

5.2
4.6
7.7
12.6

1

5.5

5.7
3.6
1.9
6.9
3.0
3.8
4.4
4.4
4.3
1.6
5.7
8.3
5.9

o

5.9
7.2
-4.4
12.0
11.7

8.4
5.7
2.9
7.3
3.3
1.1
.6
-.6
2.0
2.4

4.1

13.0

12.5

10.2

7.9

10.3
-6.2

4.2
.3

3.4
-11.0

-3.6
-6.7

-8.9

6.1
2.3

4.5
1.5

4.0

-2.7

-4.6

10.6

10.2

10.4

5.2
8.5

9.7
5.9
3.9
1.1

4.7
2.5
5.4
5.3
-.9

-2.0

-4.6

4.9
-.7

4.6
-.8

2.9
1.1
-11.0

8.8
.7
12.2
-6.2
-1.1

3.2
4.9
3.1
7.6

13.5

!

•8
7.0

-5.4

-6.9

2.7

4.8

5.0

5.2
6.3

5.5
6.8

2.6
9.8

-4.6
12.0
11.4

-4.6
13.8

-2.0
16.3

4.0
5.9

5.4
8.5

-6.4

-6.3

-4.7

-2.2

4.7
3.1
.4

4.7
2.9
.1

5.8
.3
.7

8.5
5.8
2.8

12.0

10.4

2.9
.1

-6.3

-3.9

-3.9

-2.6

.7
6.6
1.3
2.8
1.9
7.2

4.1
5.6
3.4
1.9
6.8

8.6
-.4
2.9
7.5
4.2
9.4

8.9
3.4
5.2
5.2
4.8
7.5

4.5
1.2
.5
5.5
4.6
6.6
4.1
5.3
7.2

3.0
3.8
4.3
4.3
4.2
1.5
5.6
8.3
5.8

4.4
4.4
1.9
6.7
5.3
4.1
2.1
7.1
4.2

6.8
4.2
2.5
6.3
3.8
3.3
3.0
5.7
1.4
-.7

6.4
4.5
3.3
5.7
4.1
.9
5.0
10.9

7.9

1975
1976
1977
1978
1979
1980
1981
1982

7.6
-.1

-1.3

8.0

1965
1966
1967
1968
1969
1970
1971
1972
1973
1974

-11.1

8.8
7.8
8.4
7.1
6.1

-10.4

1955
1956
1957
1958
1959
1960
1961
1962
1963
1964

-14.9
16.7
-5.4
11.0
-1.8

-1.2

-1.0

17.6
11.2

4.4
6.5

3.4
6.5
1.5

15.2

11.8

1.2

5.3

-3.1

11.5
-4.6

15.7
-1.6

4.1

7.0

8.6

7.6
2.5
3.6
9.5

7.4
4.2
.3
9.2

5.5

2.8
1.2
5.6
3.1
4.1
5.8

-3.5
-1.4

-4.9
-2.1

5.4
3.1
4.0
7.1

3.0
2.0
4.5
6.9

5.3
4.7
5.2
6.9
5.4
.8
1.1
5.6
2.2
-.8

5.9
2.4
4.4
5.3
4.7
1.2
2.0

2.0
2.4

7.4
6.2
3.8
8.2
4.3
.1
.4
3.2
5.0
3.0

4.6
2.4
5.4
5.2
-.9

3.7
2.2
7.5
4.7
2.8
-2.9

3.9
2.1
5.4
7.0
3.1
-.7

8.4
5.7
2.9
7.2
3.3
1.1
.5
-1.0

3.1
2.9
1.5
2.4
11.9
-4.5

1.7
12.3

-8.3

-8.9

-4.8

-6.5

-4.7

-1.8

6.8
4.3
3.2
2.7
-.6
5.6

9.7
5.9
3.7
.9

7.4
6.5
9.4
1.4

3.1
5.0
7.0
6.5
.9

-2.1

-5.8

-5.9

-4.7

4.9
-.9

3.6
1.8

2.8
1.6

4.6

6.9

-1.0

-2.6

-2.8

2.3
6.2

-4.0

3.9
1.0

4.0
-10.8
15.4

10.4

3.9

7.8
7.7

3.2
-.4
-.2
7.1

-3.3

7.3
6.2

8.0
3.4

10.0
-6.1

12.3
-1.1

-3.5

2.3

-5.2

9.1
4.1

-3.1

1

-0.1
10.2
-5.6

-5.6

8.9
1.8
5.5
6.8

6.7

-5.8

3.6
-1.6
-8.0

6.3
3.0
1.2

2.4

7.3

4.5

-4.7

12.9
-1.0

4.5
1.7
3.3
4.6
2.7
7.8

-.7
6.6
1.2
6.1
5.2

-2.4

8.9
2.3
4.6
4.9

9.9
3.7
4.6
7.3

4.4
2.4
3.0
8.3

8.5
2.8
1.8
3.6
2.8

9.9
3.8
2.9
3.7
.1

8.8
3.3
5.5
4.2
.5

-3.2

-4.4

-3.4

2.7
7.9
5.9

10.2

4.3

3.2
8.0
2.6

5.1
4.9
5.6
3.4
-.8
4.1
9.6
7.8

-4.0

-4.2

-5.8

-5.9

-4.7
-8.6

4.9
3.6
7.0
5.8
2.2
-.7
6.6

7.2
2.5
7.6
5.2
.4
4.2
1.4

4.9
4.7
7.9
5.5
1.0
6.7

1.9
5.7
7.3
9.0
1.5
8.9

4.4
5.3
2.3
3.8
2.3
6.8

-4.3

-3.8

-6.2

-6.4

-3.4

-2.4

.2

2.1

3.9

11.2

6.0
-.2

10.4

12.6

1.7

3.3
-.3
0
7.1

3.8
6.0
1.8
2.1

8.0
3.4

8.0
3.4
-.7
3.6
4.2
-.6
6.3
3.3
4.1
7.1

7.1

-5.1

7.5

-4.8
-2.1

11.7
-3.8
10.0

3.0
2.0
4.6
6.9

3.7
4.6
7.4

5.9
2.4
4.5
5.3
4.7
1.2
2.1

8.9
3.4
5.6
4.2
.5

4.6

1.3

6.5
3.8
4.4
5.3
3.2
.2
3.8
7.4
3.4

-4.0

-5.8

-4.1

5.1
3.6
7.0
5.9
2.2
-.7
6.7

1.9
5.8
7.4
9.1
1.5
8.9
-6.2

-3.4

2.1

1.8
5.4
6.4
6.1
1.0
.4
2.5
-.7

-3.2

7.1

11.6

10.2

Average for period

4.8
2.2
1.4
6.8
.5
3.6
1.3
7.8

11.5
-3.9

-4.3

2.0

15.6

7.6
5.1
.4
9.8

4.8
1.2
.8
5.5
4.6
6.6
4.1
5.3
7.2

-2.6
-1.5

-2.3

4.3
-2.8

10.4

51c. Change in personal income less transfer payments in 1972 dofars over 3-month spans4
[Annual rate, percent]
1947
1948
1949
1950
1951
1952
1953
1954

Annual

2.5
6.6
13.0
-4.6

4.1

-1.0

IV Q

-4.0

5.1
3.1
.5

9.6
4.8
3.1
2.9

3.0
-.9
.5
.1

III Q

Average for period

-1.4
10.4
10.4
25.1
15.2
32.5
-7.5
11.6

-2.2

ii Q

7.0
1.2

4.6
4.2
3.2
5.6
4.5
2.2
4.2
8.8
6.0
-7.3

6.9
-3.1
14.5

8.6
4.0
3.7
.2
11.4

1.0
1.0
3.4
5.7
3.1
5.8
4.1
4.7
6.8
7.5
5.4
3.1
7.2
3.8
1.5
1.3
2.6
2.8
1.6

8.0
5.6
5.4
1.7

3.8
3.2
6.6
5.5
.9

-2.8

-4.5

4.7
-.6

4.8
-.7

52. Personal income in 1972 dofars
[Annual rate, Mfans of dofars]

0.7
6.2
1.9

4.2
-3.9

5.9
7.0
.1
1.9

14.4

4.8
11.6
-3.1

-1.5

6.6

7.2

6.8
6.3
.9
7.0

6.3
2.7
-5.6

7.0
9.5

-4.2
-1.4

-2.4

5.0
2.1
4.9
6.4

7.7
2.8
4.1
6.8

6.6
3.3
3.8
5.3
4.3
-.4
2.1
8.3
3.0

7.9
4.0
4.7
3.8
-.1

4.8
-.2
11.2

3.8
5.8
1.5
2.0
7.7
3.2
-.6
3.2
3.9
.2
5.4
3.4
4.1
7.0

6.4
8.6
.8

6.7
4.2
3.7
5.5
3.1
.5
3.5
7.1
3.2

-3.0

-6.8

-3.9

5.3
2.7
6.7
6.0
1.9
.9
6.0

3.7
5.2
5.8
6.1
1.6
7.5
-5.5

-4.0

2.1

2.1
4.8
6.2
5.8
1.5
.3
2.5
-.8

-1.2

Average for period

1947
1948
1949
1950
1951
1952
1953
1954

359.8
356.1
364.1
385.7
406.7
419.3
448.1
449.6

357.2
357.9
364.4
389.7
403.8
426.0
449.7
449.8

347.9
367.4
367.0
398.8
407.2
427.7
454.1
448.0

345.5
364.7
365.4
390.4
414.0
425.7
454.6
446.2

346.9
363.7
365.8
389.9
414.9
431.2
456.6
448.3

352.2
370.5
362.9
390.5
419.2
432.9
457.8
448.6

350.7
368.6
362.2
393.2
417.7
429.2
456.3
449.4

349.3
371.5
365.2
399.5
422.6
440.5
453.8
453.1

367.9
371.9
369.6
399.7
420.0
445.7
452.4
456.7

354.8
373.4
363.9
403.6
423.3
445.3
456.0
459.7

353.5
372.6
366.8
405.8
422.7
443.5
455.4
462.3

352.1
369.2
370.9
409.4
422.3
445.4
453.2
465.1

355.0
360.5
365.2
391.4
405.9
424.3
450.6
449.1

348.2
366.3
364.7
390.3
416.0
429.9
456.3
447.7

356.0
370.7
365.7
397.5
420.1
438.5
454.2
453.1

353.5
371.7
367.2
406.3
422.8
444.7
454.9
462.4

353.2
367.3
365.7
396.4
416.2
434.4
454.0
453.1

1955
1956
1957
1958
1959
1960
1961
1962
1963
1964

466.0
500.0
514.9
514.2
534.3
558.9
562.4
590.0
615.3
639.4

467.2
501.4
517.3
514.4
536.7
556.9
564.5
593.4
611.8
642.5

471.7
501.2
518.8
514.9
541.8
555.7
566.3
596.9
614.1
645.9

475.7
506.8
519.6
512.1
544.9
559.2
567.3
599.7
616.5
650.5

480.5
505.2
519.6
514.6
547.1
562.1
571.4
600.3
618.9
654.0

482.9
506.7
521.9
517.2
548.3
562.5
576.6
602.2
622.1
656.6

488.8
501.5
522.7
526.8
548.5
561.6
577.4
604.3
622.6
659.4

489.2
508.6
523.6
525.7
542.7
561.2
577.9
605.2
624.8
664.6

491.3
512.3
522.1
528.6
542.5
560.7
578.4
605.0
628.7
667.4

495.3
516.0
522.9
529.8
543.5
561.7
583.5
607.3
631.8
667.3

497.5
515.9
520.9
535.2
549.4
559.4
589.1
608.8
631.7
672.0

500.6
516.4
517.9
536.3
557.2
556.9
591.9
610.6
636.2
678.9

468.3
500.9
517.0
514.5
537.6
557.2
564.4
593.4
613.7
642.6

479.7
506.2
520.4
514.6
546.8
561.3
571.8
600.7
619.2
653.7

489.8
507.5
522.8
527.0
544.6
561.2
577.9
604.8
625.4
663.8

497.8
516.1
520.6
533.8
550.0
559.3
588.2
608.9
633.2
672.7

483.9
507.7
520.2
522.5
544.7
559.7
575.6
602.0
622.9
658.2

1965
1966
1967
1968
1969
1970
1971
1972
1973
1974

683.6
724.4
763.1
789.8
836.8
862.7
886.5
924.9
990.9
1,009.4

682.4
728.7
764.2
795.8
841.9
865.1
888.2
932.9
998.9
1,003.2

683.5
730.7
767.4
801.9
845.4
868.9
892.0
936.8
999.9
998.8

687.5
731.9
768.0
805.8
848.1
886.4
892.6
940.7
1,000.4
1,001.8

693.1
734.9
769.3
811.3
849.8
879.0
895.0
943.6
1,001.8
1,005.3

696.6
739.1
771.9
816.1
852.0
878.2
910.9
933.8
1,004.3
1,008.3

699.4
741.8
775.8
821.6
856.7
880.3
898.1
948.3
1,011.4
1,012.8

701.2
744.5
779.3
825.2
860.6
882.8
902.1
955.8
1,006.9
1,007.3

719.4
748.1
780.1
827.2
861.7
884.5
904.0
956.5
1,015.2
1,002.3

714.7
751.2
779.3
829.2
863.1
878.3
905.6
972.8
1,018.4
1,003.8

719.9
755.4
785.1
832.3
861.3
876.7
909.5
983.3
1,020.5
996.0

723.3
756.5
790.8
835.7
863.9
879.6
917.4
987.3
1,017.2
995.0

683.2
727.9
764.9
795.8
841.4
865.6
888.9
931.5
996.6
1,003.8

692.4
735.3
769.7
811.1
850.0
881.2
899.5
939.4
1,002.2
1,005.1

706.7
744.8
778.4
824.7
859.7
882.5
901.4
953.5
1,011.2
1,007.5

719.3
754.4
785.1
832.4
862.8
878.2
910.8
981.1
1,018.7
998.3

700.4
740.6
774.5
816.0
853.4
876.9
900.2
951.4
1,007.2
1,003.7

989.9
1,035.3
1,075.4
1,133.3
1,189.6
1,217.3
1,233.0
1,249.1

991.3
1,044.7
1,080.5
1,137.7
1,190.5
1,210.0
1,236.2
1,255.7

991.6
1,047.3
1,089.1
1,145.6
1,197.3
1,206.4
1,240.9
1,256.0

994.3
1,050.6
1,091.2
1,153.8
1,194.1
1,200.1
1,241.6
1,258.1

1,003.3
1,052.8
1,095.6
1,150.8
1,193.6
1,196.3
1,242.5
1,263.8

1,021.1
1,052.0
1,097.7
1,155.2
1,194.0
1,196.5
1,251.6
1,254.3

1,009.1
1,058.7
1,109.0
1,167.8
1,206.4
1,207.7
1,266.0
1,256.0

1,017.1
1,061.0
1,110.9
1,171.3
1,208.5
1,206.0
1,274.7
1,250.8

1,021.7
1,062.0
1,118.8
1,172.7
1,206.9
1,207.5
1,274.4
1,251.2

1,025.1
1,062.4
1,126.9
1,179.6
1,207.7
1,217.1
1,268.1
1,253.7

1,026.7
1,071.8
1,130.6
1,183.8
1,210.8
1,222.1
1,263.8
1,259.9

1,025.4
1,075.6
1,137.2
1,195.4
1,212.2
1,227.9
1,257.5
1,264.9

990.9
1,042.4
1,081.7
1,138.9
1,192.5
1,211.2
1,236.7

1,006.2
1,051.8
1,094.8
1,153.3
1,193.9
1,197.6
1,245.2
1,258.7

1,016.0
1,060.6
1,112.9
1,170.6
1,207.3
1,207.1
1,271.7
1,252.7

1,025.7
1,069.9
1,131.6
1,186.3
1,210.2
1,222.4
1,263.1
1,259.5

1,009.7
1,056.2
1,105.2
1,162.2
1,201.0
1,209.6
1,254.2
1,256.1

1975
1976
1977
1978
1979
1980
1981
1982

.
.
.
.
.
.
.




1 1,253.6

Year

Monthly
Jan.

Feb.

Mar.

Apr.

May

June

Quarterly

July

Aug.

Sept.

Oct.

Nov.

Dec.

IQ

IIQ

53. Wages and salaries in 1972 dollars, mining, manufacturing, and construction
[Annual rate, billions of dollars]

III Q

IV Q

Annual

Average for period

1947
1948
1949
1950
1951
1952
1953
1954

95.8
99.8
101.6
98.0
115.5
120.8
135.1
129.7

95.8
99 4
100.9
96.9
115.1
121.9
136.5
129.7

95.1
101.3
98.7
100.7
116.9
122.9
137.7
129.0

95.1
98.3
97.2
103.1
118.7
121.1
137.8
128.6

96.6
99.6
96.6
105.4
118.3
122.0
138.0
128.6

96.6
100.6
94.9
106.7
119.4
120.6
137.0
128.2

95.6
100.8
96.0
109.4
119.6
115.9
137.6
127.6

96.0
102.2
95.3
112.0
119.4
124.6
136.6
127.7

96.1
102.0
96.3
112.1
119.0
129.4
134.2
127.7

97.2
102.4
92.6
115.0
117.9
130.6
134.3
130.1

97.9
103.2
93.7
116.3
118.6
132.3
133.0
132.7

98.5
102.7
95.9
116.0
119.8
134.4
131.5
133.3

95.6
100.2
100.4
98.5
115.8
121.9
136.4
129.5

96.1
99.5
96.2
105.1
118.8
121.2
137.6
128.5

95.9
101.7
95.9
111.2
119.3
123.3
136.1
127.7

97.9
102.8
94.1
115.8
118.8
132.4
132.9
132.0

96.4
101.0
96.6
107.6
118.2
124.7
135.8
129.4

1955
1956
1957
1958
1959
1960
1961
1962
1963
1964

134.1
148.1
153.6
142.8
149.0
158.9
150.3
159.9
166.1
171.0

135.4
148.2
154.4
139.4
150.1
159.1
149.8
161.3
165.9
174.3

137.4
148.9
153.8
138.3
152.6
158.3
150.5
162.6
166.2
175.3

138.6
151.3
152.7
136.0
154.4
157.5
151.8
164.5
167.1
176.6

141.1
149.8
151.6
136.0
156.2
158.0
153.2
164.0
168.5
177.0

141.8
150.2
152.1
137.5
156.9
156.7
155.3
164.4
169.1
177.6

142.7
147.1
151.3
139.2
156.1
156.4
155.4
165.0
169.1
178.8

142.9
150.9
151.3
141.3
152.0
155.2
156.4
164.7
169.1
180.4

143.4
152.5
149.8
142.8
151.6
154.1
154.7
165.2
170.5
181.5

145.0
153.8
148.8
142.1
150.6
153.7
157.7
164.8
171.0
178.9

146.9
153.2
147.5
147.1
152.2
151.9
160.0
165.4
171.4
181.5

147.3
155.1
145.3
147.7
156.8
148.9
160.8
165.8
172.6
184.3

135.6
148.4
153.9
140.2
150.6
158.8
150.2
161.3
166.1
173.5

140.5
150.4
152.1
136.5
155.8
157.4
153.4
164.3
168.2
177.1

143.0
150.2
150.8
141.1
153.2
155.2
155 5
165.0
169.6
180.2

146.4
154.0
147.2
145.6
153.2
151.5
159.5
165.3
171.7
181.6

141.4
150.8
151.0
140.8
153.2
155.7
154.7
164.0
168.9
178.1

1965
1966
1967
1968
1969
1970
1971
1972
1973
1974

184.7
196.7
207.3
210.5
221.1
220.6
210.1
216.4
232.3
233.3

186.4
198.4
205.2
213.4
221.2
219.7
209.7
218.4
234.7
232.2

186.9
199.8
205.8
213.7
222.6
220.2
210.1
220.6
233.7
231.0

185.9
201.5
205.5
214.6
223.0
217.8
210.8
221.6
234.2
230.5

187.5
202.0
204.9
216.4
223.9
215.2
212.3
222.0
234.2
231.2

188.0
204.1
205.4
216.2
224.2
215.5
211.3
222.3
235.2
231.0

188.5
204.3
206.1
216.4
224.7
215.7
210.7
221.1
237.2
229.9

189.9
205.1
207.8
216.3
225.1
214.8
210.3
223.7
233.4
229.4

190.5
205.6
206.3
217.6
225.1
212.1
210.5
225.1
235.0
227.6

192.5
205.8
205.9
218.7
224.8
206.8
211.1
227.4
235.4
226.6

194.1
206.1
208.9
220.1
222.6
205.5
211.5
228.8
236.2
219.7

195.8
206.2
210.5
220.6
223.0
208.9
214.4
230.0
236.2
216.5

186.0
198.3
206.1
212.5
221.6
220.2
210.0
218.5
233.6
232.2

187.1
202.5
205.3
215.7
223.7
216.2
211.5
222.0
234.5
230.9

189.6
205.0
206.7
216.8
225.0
214.2
210.5
223.3
235.2
229.0

194.1
206.0
208.4
219.8
223.5
207.1
212.3
228.7
235.9
220.9

189.2
203.0
206.6
216.2
223.4
214.4
211.1
223.1
234.8
228.2

1975
1976
1977
1978
1979
1980
1981
1982

213.2
216.6
223.0
235.1
251.3
241.5
234.0
223.0

208.3
217.9
225.0
236.6
251.0
240.2
230.8
223.8

206.8
218.9
227.3
239.7
251.8
237.7
231.5
222.7

205.7
220.0
229.1
244.2
249.8
233.9
231.6
221.6

206.9
220.8
231.2
244.0
248.8
230.4
231.3
220.2

206.8
220.0
233.4
245.2
248.2
227.8
232.2
217.4

205.6
221.0
233.8
246.3
248.5
226.6
231.7
215.5

208.9
221.7
234.0
246.6
246.4
229.4
231.0
213.3

210.2
221.8
235.9
247.5
246.6
230.2
228.3
211.9

210.8
221.3
236.9
248.0
244.4
231.0
227.6
208.9

211.2
224.2
237.2
249.6
242.3
232.1
225.3
207.9

213.2
2251
236.1
251.0
241.7
232.4
222.5
208.6

209.4
217.8
225.1
237.1
251.4
239.8
232.1
223.2

206.5
220.3
231.2
244.5
248.9
230.7
231.7
219.7

208.2
221.5
234.6
246.8
247.2
228.7
230.3
213.6

211.7
223.5
236.7
249.5
242.8
231.8
225.1
208.5

209.0
220.8
231.9
244.5
247.6
232.8
229.8
216.2

1947
1948
1949
1950
1951
1952
1953
1954

9,583
10,883
10,949
11,339
13,885
13,030
14,352
13,712

9,852
10,866
11,099
11,589
13,716
13,274
14,325
14,055

9,769
11,021
11,191
11,674
13,021
12,890
14,418
14,020

9,947
11,210
11,290
11,716
12,735
13,208
14,218
13,991

10,061
10,906
11,223
11,916
12,840
13,708
14,167
13,957

10,146
11,173
11,217
12,345
12,792
13,885
14,146
14,272

10,176
11,257
10,993
13,300
12,651
13,512
14,090
13,991

10,141
11,331
11,106
13,349
12,936
13,212
14,017
13,996

10,462
11,230
11,263
12,694
12,855
13,430
14,007
14,073

10,609
11,240
11,160
12,358
13,094
14,047
14,060
14,081

10,792
11,159
11,221
12,069
13,099
13,891
13,855
14,406

10,842
11,404
11,052
12,959
12,924
14,266
13,719
14,671

29,204
32,770
33,239
34,602
40,622
39,194
43,095
41,787

30,154
33,289
33,730
35,977
38,367
40,801
42,531
42,220

30,779
33,818
33,362
39,343
38,442
40,154
42,114
42,060

32,243
33,803
33,433
37,386
39,117
42,204
41,634
43,158

122,406
133,619
133,783
147,213
156,548
162,353
169,094
169,135

1955
1956
1957
1958
1959
1960
1961
1962
1963
1964

14,765
15,495
16,329
16,659
17,583
18,092
17,953
19,009
20,301
21,046

14,896
15,370
16,635
16,374
17,712
18,159
17,889
19,011
20,148
21,143

15,005
15,663
16,453
16,319
17,860
18,139
18,078
19,331
20,309
21,296

15,255
15,516
16,493
16,535
17,871
18,615
17,758
19,436
20,397
21,472

15,260
15,771
16,534
16,517
18,011
18,337
18,025
19,568
20,268
21,762

15,126
15,797
16,820
16,476
18,175
18,312
18,159
19,317
20,419
21,779

15,404
15,744
16,799
16,746
18,169
18,128
18,145
19,623
20,656
21,887

15,418
15,826
16,967
16,853
18,285
18,190
18,345
19,745
20,630
22,195

15,677
15,906
16,841
16,745
18,046
18,173
18,377
19,804
20,579
22,404

15,715
15,933
16,782
16,662
18,178
18,333
18,708
20,115
20,937
21,538

15,652
16,106
16,699
17,048
17,699
18,071
18,840
20,220
20,701
21,740

15,531
16,193
16,647
17,605
17,617
17,939
18,847
20,216
21,156
22,751

44,666
46,528
49,417
49,352
53,155
54,390
53,920
57,351
60,758
63,485

45,641
47,084
49,847
49,528
54,057
55,264
53,942
58,321
61,084
65,013

46,499
47,476
50,607
50,344
54,500
54,491
54,867
59,172
61,865
66,486

46,898
48,232
50,128
51,315
53,494
54,343
56,395
60,551
62,794
66,029

183,851
189,729
200,002
200,353
215,413
219,529
218,992
235,563
246,666
261,870

1965
1966
1967
1968
1969
1970
1971
1972
1973
1974

22,918
24,919
23,963
25,440
28,220
29,796
32,253
35,100
41,315
43,168

23,063
24,993
23,579
25,748
28,449
29,989
32,527
35,380
41,861
43,339

22,834
25,430
23,760
26,330
28,276
29,963
32,657
36,111
42,012
43,905

23,026
25,084
23,871
26,313
28,504
30,074
33,155
36,235
41,969
44,593

23,383
24,653
23,871
26,446
28,660
30,551
33,092
36,836
41,980
44,895

23,243
25,222
24,430
26,898
28,605
30,784
33,664
36,938
42,057
45,200

23,622
25,328
24,324
27,239
28,628
30,948
33,633
37,208
42,459
45,785

23,697
25,615
24,413
27,538
28,937
30,979
34,101
37,628
42,316
46,981

23,760
25,667
24,841
27,059
29,279
31,107
34,477
38,004
42,975
46,208

24,373
25,557
24,739
27,789
29,473
31,155
34,816
38,923
43,258
45,775

24,667
25,566
25,121
28,211
29,532
30,723
35,520
39,240
43,880
45,526

24,755
25,384
25,801
28,113
29,812
31,595
35,336
40,151
42,828
45,285

68,815
75,342
71,302
77,518
84,945
89,748
97,437
106,591
125,188
130,412

69,652
74,959
72,172
79,657
85,769
91,409
99,911
110,009
126,006
134,688

71,079
76,610
73,578
81,836
86,844
93,034
102,211
112,840
127,750
138,974

73,795
76,507
75,661
84,113
88,817
93,473
105,672
118,314
129,966
136,586

284,128
303,956
292,956
324,358
346,717
368,403
406,234
449,069
509,538
540,988

1975
1976
1977
1978
1979
1980
1981
1982

46,358
52,879
57,330
61,641
71,489
79,425
85,355
86,542

47,184
52,904
58,509
62,816
71,615
78,816
86,058
88,049

46,182
52,966
58,888
64,352
72,937
77,721
86,978
87,701

46,667
53,709
59,441
65,847
73,485
77,191
86,746

50,359
54,967
61,039
68,811
77,271
80,970
88,562
89,897

50,424
55,545
62,009
69,862
77,095
82,442
87,231
90,905

51,143
56,224
62,630
70,567
77,768
83,024
87,358
92,492

51,923
57,553
62,254
71,549
78,264
83,741
87,409
92,459

139,724
158,749
174,727
188,809
216,041
235,962
258,391
262,292

144,085
161,423
178,678
200,436
221,938
233,354
261,633
267,884

149,860
164,515
182,385
204,336
228,214
241,203
265,096
268,435

153,490
169,322
186,893
211,978
233,127
249,207
261,998
275,856

588,146
657,375
725,220
807,426
900,558
962,816
1,047,573
1,075,679

1947
1948
1949
1950
1951
1952
1953
1954

31,180
34,353
35,053
33,632
45,242
43,279
47,760
45,968

31,592
34,131
34,737
34,464
44,583
43,664
48,392
46,435

31,873
34,380
34,489
34,893
43,983
43,296
48,987
46,183

48,862
48,556
49,469
50,032
54,614
54,418
53,296
54,934
60,524
59,523
59,714
60,822
67,628
67,652
66,937
67,897
74,485
74,006
74,447
76,458
79,794
77,409
78,754
80,439
87,759
86,939
87,948
88,775
89,469
90,813
88,603
89,069
56. Manufacturing jind trade sales in current dolars
s of dolars]
32,692
32,774
32,888
32,231
32,679
34,702
35,398
35,881
34,890
36,053
33,648
33,521
33,065
34,189
33,623
36,686
38,462
42,054
35,474
43,205
43,172
43,566
42,082
43,250
42,807
44,228
44,346
43,452
43,767
44,288
48,398
48,904
49,372
48,935
48,185
45,866
46,349
46,180
46,640
45,798

33,726
36,012
34,189
41,024
42,703
45,721
47,828
45,842

34,747
35,864
32,915
40,665
43,193
47,139
47,540
46,011

34,927
35,571
33,275
39,880
43,140
46,853
46,333
47,465

35,409
35,662
32,934
43,028
42,733
47,496
45,602
48,603

94,645
102,864
104,279
102,989
133,808
130,239
145,139
138,586

97,697
104,990
101,358
110,622
129,988
132,341
146,237
138,855

Total for period
105,083
99,293
107,097
107,946
99,124
100,877
123,573
126,283
129,066
127,592
141,488
133,461
139,475
145,385
142,079
137,820

396,718
422,897
405,638
463,467
520,454
537,529
576,236
557,340

1955
1956
1957
1958
1959
1960
1961
1962
1963
1964

49,320
53,110
56,568
54,173
57,833
62,107
58,612
64,443
66,555
71,643

49,828
52,874
57,006
53,102
58,621
61,713
58,931
64,423
67,679
71,616

50,744
53,235
56,597
52,493
59,379
61,274
59,884
65,310
67,774
71,442

51,334
53,660
55,770
52,286
60,322
61,637
59,467
65,461
68,420
72,744

51,467
53,768
55,651
52,457
60,975
60,649
60,177
65,429
68,222
73,450

51,645
54,124
56,119
53,315
61,134
60,604
61,134
65,041
68,792
73,063

51,885
51,804
56,133
53,758
60,537
60,223
60,603
65,324
69,927
74,236

51,784
53,696
56,682
54,843
59,206
59,939
62,068
66,026
69,497
74,176

52,907
54,439
55,801
54,980
59,377
60,518
62,179
66,142
69,485
75,051

52,842
55,209
55,513
55,321
59,234
60,373
63,104
66,546
70,448
73,709

53,248
55,613
54,946
56,780
59,049
59,728
63,742
67,395
69,655
74,669

53,391
56,255
53,837
57,209
60,924
59,668
64,131
66,297
71,149
77,226

149,892
159,219
170,171
159,768
175,833
185,094
177,427
194,176
202,008
214,701

154,446
161,552
167,540
158,058
182,431
182,890
180,778
195,931
205,434
219,257

156,576
159,939
168,616
163,581
179,120
180,680
184,850
197,492
208,909
223,463

159,481
167,077
164,296
169,310
179,207
179,769
190,977
200,238
211,252
225,604

620,395
647,787
670,623
650,717
716,591
728,433
734,032
787,837
827,603
883,025

1965
1966
1967
1968
1969
1970
1971
1972
1973
1974

77,123
84,827
88,945
95,049
101,595
106,650
110,955
123,106
144,983
166,356

77,347
85,383
88,335
95,094
102,253
107,158
112,191
122,614
147,142
168,518

78,986
87,179
88,831
95,883
103,090
106,394
113,153
124,722
148,545
172,005

79,429
86,731
88,871
95,944
103,863
105,847
114,030
125,834
149,591
173,650

79,241
86,295
89,071
96,750
103,918
107,256
114,993
127,216
150,592
176,022

79,363
87,367
89,731
97,752
104,453
107,920
116,966
127,828
151,553
177,805

80,734
87,022
89,684
98,992
105,232
108,309
116,456
128,519
153,867
182,065

80,550
88,190
91,006
97,837
105,875
107,998
116,389
131,090
154,444
184,007

80,662
88,085
90,806
98,797
106,686
108,580
117,262
132,829
154,695
183,997

81,693
88,348
90,557
100,557
108,151
107,175
117,365
135,424
159,045
183,638

83,254
88,038
93,029
101,487
107,265
105,933
119,797
138,420
162,874
183,173

83,965
88,275
95,521
101,196
107,505
109,508
121,380
141,300
162,988
178,856

233,456
257,389
266,111
286,026
306,938
320,202
336,299
370,442
440,670
506,879

238,033
260,393
267,673
290,446
312,234
321,023
345,989
380,878
451,736
527,477

241,946
263,297
271,496
295,626
317,793
324,887
350,107
392,438
463,006
550,069

248,912
264,661
279,107
303,240
322,921
322,616
358,542
415,144
484,907
545,667

962,347
1,045,740
1,084,387
1,175,338
1,259,886
1,288,728
1,390,937
1,558,902
1,840,319
2,130,092

1975
1976
1977
1978
1979
1980
1981
1982

179,416
194,856
217,362
236,637
279,290
321,857
355,151
340,746

178,724
196,244
221,248
243,174
280,384
322,735
355,316
345,687

173,783
197,958
224,939
246,559
290,362
318,712
356,688
347,061

176,717
200,092
226,641
256,604
286,366
313,174
358,809
344,934

176,925
200,395
227,302
258,948
296,800
311,435
359,239
353,110

179,872
204,186
229,262
260,954
295,403
312,908
360,912
349,742

182,818
205,489
230,076
260,730
301,061
320,734
360,189
347,676

185,079
205,889
231,164
266,057
303,135
325,610
360,384
343,426

186,963
207,579
232,363
267,135
305,658
335,015
357,454
342,882

188,060
205,854
234,534
272,893
309,134
343,417
352,092
336,905

188,008
210,304
237,333
274,911
310,076
345,560
349,712
338,722

190,195
216,681
240,587
277,254
312,655
349,328
345,958
338,391

531,923
589,058
663,549
726,370
850,036
963,304
1,067,155
1,033,494

533,514
604,673
683,205
776,506
878,569
937,517
1,078,960
1,047,786

554,860
618,957
693,603
793,922
909,854
981,359
1,078,027
1,033,984

566,263
632,839
712,454
825,058
931,865
1,038,305
1,047,762
1,014,018

2,186,560
2,445,527
2,752,811
3,121,856
3,570,324
3,920,485
4,271,904
4,129,282

54. Sales of retai stores in
[MWons of dollars]

See footnotes at end of this part.




Total for period

87

Year

Quarterly
Jan.

Feb.

Mar.

May

Apr.

June

Jujy_

Sept.

Oct.

Nov.

Dec.

57. Manufacturing and trade sales in 1972 d
—
»rfdofars]

JiL

JUL

HI Q

1VQ

Annual

Total for period

1947
1948
1949
1950
1951
1952
1953
1954

52,474
53,344
53,378
62,759
59,929
67,237
64,027

52,498
53,297
54,487
61,114
60,593
68,165
64,786

52,894
53,140
55,208
60,017
60,220
68,894
64,435

53,129
52,938
55,853
58,978
60,987
68,879
64,958

52,455
52,148
57,205
59,494
61,683
68,575
63,869

53,121
53,527
59,549
59,060
61,821
67,769
64,713

53,583
51,963
63,996
57,893
60,499
68,684
64,486

53,694
53,072
64,897
59,351
61,728
67,302
64,096

53,657
54,110
60,894
59,313
63,820
66,729
64,431

53,715
52,142
59,609
59,731
65,902
66,422
64,675

53,491
52,827
57,766
59,579
65,654
64,806
66,600

53,918
52,367
61,016
58,975
66,862
63,706
68,159

157,866
159,781
163,073
183,890
180,742
204,296
193,248

158,705
158,613
172,607
177,532
184,491
205,223
193,540

160,934
159,145
189,787
176,557
186,047
202,715
193,013

161,124
157,336
178,391
178,285
198,418
194,934
199,434

638,629
634,875
703,858
716,264
749,698
807,168
779,235

1955
1956
1957
1958
1959
1960
1961
1962
1963
1964

69,147
73,309
75,021
70,035
74,544
79,391
74,928
81,905
84,339
89,833

69,727
72,733
75,306
68,806
75,741
78,992
75,144
81,915
85,591
89,916

71,106
73,047
74,774
67,788
76,624
78,497
76,446
83,031
85,692
89,653

71,869
73,213
73,636
67,509
77,758
78,900
75,878
83,107
86,508
91,129

72,173
73,009
73,375
67,766
78,627
77,831
77,047
83,096
85,880
92,155

72,160
73,331
73,824
68,991
78,686
77,768
78,412
82,657
86,673
91,854

72,436
70,206
73,525
69,715
78,403
77,406
77,520
83,032
87,967
93,317

72,152
72,478
74,020
70,912
75,954
76,990
79,314
83,609
87,344
93,086

73,336
73,135
73,046
71,275
75,679
77,846
79,631
83,389
87,396
94,014

73,048
73,726
72,696
72,388
75,911
77,448
80,707
84,204
88,464
92,311

73,631
74,094
71,739
73,512
75,858
76,432
81,464
85,382
87,382
93,336

73,719
74,799
70,167
71,670
77,973
76,472
81,788
83,942
89,304
96,520

209,980
219,089
225,101
206,629
226,909
236,880
226,518
246,851
255,622
269,402

216,202
219,553
220,835
204,266
235,071
234,499
231,337
248,860
259,061
275,138

217,924
215,819
220,591
211,902
230,036
232,242
236,465
250,030
262,707
280,417

220,398
222,619
214,602
217,570
229,742
230,352
243,959
253,528
265,150
282,167

864,504
877,080
881,129
840,367
921,758
933,973
938,279
999,269
1,042,540
1,107,124

1965
1966
1967
1968
1969
1970
1971
'1972
1973
1974

96,251
103,228
105,276
110,642
114,412
115,395
116,141
125,345
140,437
142,051

96,579
103,401
104,807
110,169
114,799
115,688
117,113
124,342
141,109
141,419

98,491
105,038
105,333
110,781
115,388
114,637
117,780
126,127
140,651
142,020

98,749
104,157
105,603
110,918
115,929
113,809
118,178
127,177
140,276
142,246

97,863
103,668
105,683
111,393
115,552
115,060
119,010
128,175
139,417
142,188

98,149
104,928
105,730
112,226
115,820
115,520
120,510
128,418
139,059
141,776

99,908
104,306
105,612
113,689
116,319
115,497
119,624
128,656
141,031
141,683

99,345
104,970
107,242
111,986
116,902
115,117
119,355
130,745
138,564
139,976

99,389
104,786
106,606
112,615
117,435
114,984
120,471
131,980
138,644
138,289

100,419
105,032
105,993
114,201
118,558
112,985
120,307
134,308
141,917
136,219

101,807
104,659
108,632
114,882
116,841
111,314
122,580
136,194
143,785
134,143

102,186
105,074
111,123
114,176
116,838
114,727
123,611
137,923
141,555
130,002

291,321
311,667
315,416
331,592
344,599
345,720
351,034
375,814
422,197
425,490

294,761
312,753
317,016
334,537
347,301
344,389
357,698
383,770
418,752
426,210

298,642
314,062
319,460
338,290
350,656
345,598
359,450
391,381
418,239
419,948

304,412
314,765
325,748
343,259
352,237
339,026
366,498
408,425
427,257
400,364

1,189,136
1,253,247
1,277,640
1,347,678
1,394,793
1,374,733
1,434,680
1,559,390
1,686,445
1,672,012

1975
1976
1977
1978
1979
1980
1981
1982

130,465
136,722
145,246
150,140
161,343
162,537
160,549
150,131

130,401
137,466
146,803
153,637
160,187
161,084
160,469
153,317

126,653
138,305
148,045
154,203
163,756
157,565
160,614
153,878

128,321
139,169
148.176
158,825
159,948
154,327
161,180
152,207

128,688
139,015
148,666
159,159
164,140
152,913
160,775
155,982

130,030
140,575
149,543
159,196
161,980
152,878
161,968
153,903

131,127
140,920
150,128
158,904
162,982
155,476
160,810
153,618

131,590
140,863
150,907
160,570
162,747
154,543
159,755
151,683

132,541
141,045
151,270
160,299
161,993
157,500
159,193
151,612

132,533
139,880
151,999
161,734
161,832
159,352
155,344
148,436

132,486
142,600
152,665
161,922
160,404
159,165
155,069
150,225

133,721
145,334
153,890
162,032
160,762
159,792
153,281
150,560

387,519
412,493
440,094
457,980
485,286
481,186
481,632
457,326

387,039
418,759
446,385
477,180
486,068
460,118
483,923
462,092

395,258
422,828
452,305
479,773
487,722
467,519
479,758
456,913

398,740
427,814
458,554
485,688
482,998
478,309
463,694
449,221

1,568,556
1,681,894
1,797,338
1,900,621
1,942,074
1,887,132
1,909,007
1,825,552

58. Index of consumer
[Rrst quarter 1966 = 100]

1947
1948
1949
1950
1951
1952
1953
1954

90.7
82.0

1955
1956
1957
1958
1959
1960
1961
1962
1963
1964

Average for period

86.2
80.8
87.0

82.9

91.6
96.2
100.2

99.7
100.2
83.7
90.8
93.8
90.1
94.4
95.0
96.9
99.4

94.8
94.8
99.2

102.2
95.7
94.9
92.4
91.6
75.4
81.6
89.3
76.0
72.0

103.2
91.2
96.5
92.9
86.4
77.1
82.4
94.0
71.8
64.5

102.9
88.3
92.9
92.1
79.7
75.4
82.2
90.8
75.7
58.4

102.4
93.8
94.1
93.1
88.2
76.5
81.1
90.4
76.1
64.0

72.9
82.2
89.1
82.9
68.1
51.7
76.3
67.5

75.8
88.8
87.6
78.4
64.5
67.3
77.2
65.4

80.4
66.7
73.7
73.1
69.3

79.3
62.1
75.0
70.3
73.4

75.4
86.0
83.1
75.0
63.3
76.7
62.5
72.1

66.1
61.0
64.5
64.3
71.9

82.3
71.5
63.5
68.3
66.5

81.5
66.6
54.4
73.9
66.2

73.5
62.1
72.1
65.7
72.5

70.5
85.4
86.8
79.4
66.0
64.4
70.7
68.0

98!9
91.1
97.2
94.8
99.0

99.1
98.2
92.9
80.9
95.3
92.9
92.3
95.4
91.4
98.1

1965
1966
1967
1968
1969
1970
1971
1972
1973
1974

101.5
100.0
92.2
95.0
95.1
78.1
78.2
87.5
80.8
60.9

1975
1976
1977
1978
1979
1980
1981
1982

58.0
84.5
87.5
84.3
73.9
66.9
66.9
66.5

78.5

83.7
72.1
67.0
71.4
71.0

®

78.8
68.4
56.5
66.5
62.0

81.6
66.0
52.7
72.4
65.5

99.9

80.0
65.8
58.7
73.1
65.7

82.4
60.4
62.3
74.1
65.4

59. Sales of retai stores in 1972 dolars
[Mttons of dolars]

80.4
63.9
67.8
74.8
66.7
Total for period

1947
1948
1949
1950
1951
1952
1953
1954

16,811
16,724
17,995
20,219
18,192
20,153
19,321

16,764
16,994
18,368
19,667
18,596
20,138
19,805

17,047
17,244
18,527
18,432
18,100
20,292
19,755

17.165
17,440
18,521
18,069
18,547
20,011
19,737

16,513
17,359
18,716
18,219
19,249
19,916
19,712

16,833
18,376
19,315
18,172
19,498
19,886
20,180

16,897
17,134
20,651
17,951
18,952
19,807
19,852

16,945
17,377
20,595
18,354
18,509
19,683
19,905

16,794
17,690
19,461
18,240
18,815
19,668
20,108

16,892
17,596
18,688
18,451
19,679
19,766
20,144

16,875
17,762
18,050
18,363
19,483
19,522
20,608

17,310
17,540
19,099
17,981
20,010
19,331
20,987

50,622
50,962
54,890
58,318
54,888
60,583
58,881

50,511
53,175
56,552
54,460
57,294
59,813
59,629

50,636
52,201
60,707
54,545
56,276
59,158
59,865

51,077
52,898
55,837
54,795
59,172
58,619
61,739

202,846
209,236
227,986
222,118
227,630
238,173
240,114

1955
1956
1957
1958
1959
1960
1961
1962
1963
1964

21,097
22,270
22,771
22,535
23,633
24,027
23,685
24,913
26,229
26,742

21,284
22,117
23,066
21,966
23,774
24,052
23,569
24,851
26,031
26,865

21,440
22,513
22,814
21,731
23,973
24,089
23,850
25,203
26,205
27,060

21,823
22,249
22,818
21,924
23,956
24,623
23,427
25,274
26,353
27,249

21,882
22,508
22,848
21,944
24,111
24,287
23,748
25,446
26,152
27,652

21,740
22,440
23,165
22,049
24,201
24,254
23,925
25,120
26,279
27,673

22,140
22,210
23,058
22,388
24,193
24,042
23,812
25,584
26,482
27,775

22,134
22,351
23,183
22,561
24,315
24,093
24,075
25,676
26,381
28,166

22,480
22,412
23,037
22,356
23,965
24,102
24,054
25,554
26,350
28,359

22,534
22,322
22,982
22,275
24,077
24,282
24,551
25,988
26,739
27,367

22,470
22,564
22,792
22,670
23,536
23,872
24,724
26,158
26,438
27,554

22,270
22,634
22,670
23,349
23,427
23,666
24,734
26,153
26,950
28,726

63,821
66,900
68,651
66,232
71,380
72,168
71,104
74,967
78,465
80,667

65,445
67,197
68,831
65,917
72,268
73,164
71,100
75,840
78,784
82,574

66,754
66,973
69,278
67,305
72,473
72,237
71,941
76,814
79,213
84,300

67,274
67,520
68,444
68,294
71,040
71,820
74,009
78,299
80,127
83,647

263,294
268,590
275,204
267,748
287,161
289,389
288,154
305,920
316,589
331,188

1965
1966
1967
1968
1969
1970
1971
1972
1973
1974

28,864
30,994
29,081
29,859
31,815
32,177
33,597
35,598
40,465
38,612

29,047
30,932
28,615
30,150
31,929
32,281
33,777
35,737
40,721
38,285

28,722
31,356
28,800
30,688
31,558
32,288
33,806
36,439
40,474
38,345

28,964
30,816
28,900
30,597
31,706
32,234
34,216
36,527
40,085
38,676

29,339
30,286
28,830
30,609
31,844
32,640
34,045
37,021
39,829
38,536

29,054
30,947
29,363
31,060
31,643
32,819
34,492
37,086
39,676
38,501

29,528
31,039
29,131
31,381
31,633
32,923
34,390
37,245
39,980
38,735

29,658
31,238
29,132
31,617
31,904
32,886
34,797
37,515
39,291
39,315

29,774
31,225
29,573
30,925
32,210
32,917
35,253
37,702
39,865
38,157

30,504
31,016
29,346
31,614
32,281
32,760
35,527
38,576
39,832
37,459

30,795
30,989
29,694
31,985
32,135
32,204
36,208
38,775
40,000
37,013

30,790
30,768
30,462
31,802
32,334
32,980
35,874
39,558
38,688
36,609

86,633
93,282
86,496
90,697
95,302
96,746
101,180
107,774
121,660
115,242

87,357
92,049
87,093
92,266
95,193
97,693
102,753
110,634
119,590
115,713

88,960
93,502
87,836
93,923
95,747
98,726
104,440
112,462
119,136
116,207

92,089
92,773
89,502
95,401
96,750
97,944
107,609
116,909
118,520
111,081

355,039
371,606
350,927
372,287
382,992
391,109
415,982
447,779
478,906
458,243

1975
1976
1977
1978
1979
1980
1981
1982

37,446
40,335
41,847
42,866
45,915
46,339
45,547
43,576

37,960
40,354
42,459
43,532
45,528
45,585
45,678
44,492

36,916
40,340
42,580
44,350
46,017
44,361
45,802
44,293

37,215
40,812
42,856
44,947
45,899
43,784
45,488
44,636

38,628
40,254
42,929
45,258
45,853
43,685
45,328
45,635

38,596
41,008
42,577
45,343
45,757
44,169
45,735
44,103

38,678
40,971
43,139
45,115
45,501
44,578
45,377
44,401

38,905
41,026
43,197
45,084
46,423
44,441
45,737
44,181

39,099
40,807
43,290
45,480
46,549
44,270
45,300
44,526

38,937
40,993
43,823
45,841
46,109
44,879
44,506
44,847

39,371
41,402
43,982
46,002
46,181
44,878
44,412
45,720

39,727
42,256
43,565
46,430
46,092
44,950
44,303
45,749

112,322
121,029
126,886
130,748
137,460
136,285
137,027
132,361

114,439
122,074
128,362
135,548
137,509
131,638
136,551
134,374

116,682
122,804
129,626
135,679
138,473
133,289
136,414
133,108

118,035
124,651
131,370
138,273
138,382
134,707
133,221
136,316

461,478
490,558
516,244
540,248
551,824
535,919
543,213
536,159

88



Year

Quarterly

Monthly
Jan.

Feb.

Mar.

Apr.

May

June

July

Aug.

Sept.

Oct.

Nov.

60. Ratio, help-wanted advertising in newspapers to number of persons unemployed
[Ratio]

1947
1948
1949
1950
1951
1952
1953
1954

IV Q

JUL

Dec.

Annual

Average for period

0.952
539
251
801
1.027
1.165
435

0.806
.418
.257
.886
1.020
1.327
.384

0.732
.393
.269
.924
1.067
1.392
.338

0.737
.347
.308
.992
1.086
1.295
.326

0.830
.305
.329
1.059
1.038
1.362
.316

0.793
.276
.354
.940
1.027
1.296
.344

0.781
.246
.410
.977
.987
1.201
.325

0.748
.234
.521
.986
.956
1.145
.309

0.802
.235
.536
.908
1.092
.997
.303

0.751
.188
.612
.882
1.197
.845
.325

0.690
.224
.609
.888
1.265
.686
.376

0.588
.212
.576
.988
1.321
.486
.410

0.830
.450
.259
.870
1.038
1.295
.386

0.787
.309
.330
.997
1.050
1.318
.329

0.777
.238
.489
.957
1.012
1.114
.312

0.676
.208
.599
.919
1.261
.672
.370

0.768
.301
.419
.936
1.090
1.100
.349

443
759
735
330
366
519
300
445
424
458

.491
.800
.749
.277
.390
.564
.283
.462
.407
.462

.531
.744
.771
.252
.431
.479
.288
.456
.431
.467

.518
.787
.710
.220
.492
.485
.286
.457
.426
.494

.607
.718
.670
.219
.505
.484
.291
.478
.402
.514

.639
.702
.605
.229
.538
.451
.305
.465
.427
.523

.679
.655
.639
.234
.540
.427
.308
.468
.434
.569

.674
.739
.618
.243
.515
.408
.337
.438
.445
.554

.744
.746
.566
.272
.497
.398
.344
.436
.436
.553

.683
.810
.513
.293
.465
.350
.371
.446
.448
.551

.728
.718
.405
.334
.454
.337
.409
.422
.423
.604

.766
.715
.385
.355
.505
.303
.413
.434
.464
.587

.488
.768
.752
.286
.396
.521
.290
.454
.421
.462

.588
.736
.662
.223
.512
.473
.294
.467
.418
.510

.699
.713
.608
.250
.517
.411
.330
.447
.438
.559

.726
.748
.434
.327
.475
.330
.398
.434
.445
.581

.625
.741
.614
.272
.475
.434
.328
.451
.431
.528

1965
1966
1967
1968
1969
1970
1971
1972
1973
1974

608
996
1.033
1.065
1.336
1.023
466
540
867
750

.607
1.077
1.042
1.012
1.350
.940
.486
.562
.843
.730

.653
1.113
1.021
1.077
1.350
.844
.478
.561
.860
.751

.646
1.095
1.029
1.165
1.339
.784
.480
.576
.834
.774

.703
1.060
1.006
1.152
1.361
.714
.483
.593
.867
.753

.721
1.098
.985
1.074
1.268
.673
.505
.599
.866
.719

.739
1.097
.981
1.126
1.236
.635
.491
.612
.892
.694

.778
1.078
1.011
1.194
1.220
.615
.487
.633
.871
.676

.815
1.096
.996
1.253
1.214
.581
.490
.651
.856
.586

.862
1.096
.956
1.318
1.191
.525
.505
.678
.912
.534

.940
1.108
.971
1.305
1.241
.492
.496
.731
.853
.441

.972
1.043
.996
1.297
1.187
.475
.503
.806
.802
.381

.623
1.062
1.032
1.051
1.345
.936
.477
.554
.857
.744

.690
1.084
1.007
1.130
1.323
.724
.489
.589
.856
.749

.777
1.090
.996
1.191
1.223
.610
.489
.632
.873
.652

.925
1.082
.974
1.307
1.206
.497
.501
.738
.856
.452

.754
1.080
1.002
1.170
1.274
.692
.489
.628
.860
.649

1975
1976
1977
1978
1979
1980
1981
1982

306
344
429
633
784
687
474
338

.301
.378
.424
.655
.762
.674
.478
.317

.276
.387
.440
.662
.761
.643
.467
.289

.268
.370
.460
.703
.761
.494
.447
.255

.261
.397
.483
.700
.782
.418
.432
.249

.293
.390
.476
.726
.765
.425
.448
.242

.308
.390
.527
.703
.771
.421
.466
.228

.312
.384
.525
.735
.731
.420
.440
.212

.312
.379
.529
.739
.766
.452
.403
.192

.313
.385
.563
.806
.789
.466
.378
.195

.332
.387
.581
.789
.753
.497
.366
.195

.338
.414
.653
.789
.744
.496
.346
.205

.294
.370
.431
.650
.769
.668
.473
.315

.274
.386
.473
.710
.769
.446
.442
.249

.311
.384
.527
.726
.756
.431
.436
.211

.328
.395
.599
.795
.762
.486
.363
.198

.302
.384
.508
.720
.764
.508
.429
.243

1947
1948
1949
1950
1951
1952
1953
1954

72l
78.6
81.7
79.4
81.7
89.2
90.5
94.5

73.0
78.4
82.0
79.2
83.0
89.2
90.6
94.5

73.5
79.3
81.1
78.5
83.8
89.7
91.2
94.7

73.6
78.8
81.2
77.8
85.3
89.8
91.3
94.5

74.7
78.3
81.8
78.3
85.6
90.6
91.0
94.1

74.7
78.5
81.1
77.2
86.7
91.1
91.6
93.4

74.6
79.8
80.9
76.8
87.8
89.2
91.3
93.1

74.7
80.9
79.8
76.6
88.7
89.9
90.9
93.5

76.3
81.4
79.4
77.8
88.7
90.1
91.1
92.6

76.1
80.8
79.6
79.8
88.3
90.2
92.1
93.0

76.2
82.3
78.5
81.3
88.8
89.7
93.0
93.7

77.5
81.7
79.3
81.6
89.5
90.7
94.4
92.9

73.1
78.8
81.6
79.0
82.8
89.4
90.8
94.6

74.3
78.5
81.4
77.8
85.9
90.5
91.3
94.0

75.2
80.7
80.0
77.1
88.4
89.7
91.1
93.1

76.6
81.6
79.1
80.9
88.9
90.2
93.2
93.2

74.8
79.9
80.5
78.7
86.5
90.0
91.6
93.7

1955
1956
1957
1958
1959
1960
1961
1962
1963
1964

91.4
92.1
96.4
101.2
98.5
97.5
103.1
99.7
99.3
97.4

91.7
92.5
95.9
101.8
97.8
98.7
103.4
99.1
98.8
97.8

90.8
93.2
96.2
102.6
97.8
99.9
102.7
99.3
98.5
98.5

90.1
93.1
97.1
102.8
97.1
100.0
101.4
100.3
97.2
97.6

90.1
93.7
97.2
101.7
97.0
100.8
101.1
100.4
97.1
97.6

90.2
94.3
96.9
100.0
97.6
101.4
100.5
100.8
97.5
97.9

90.6
97.7
96.9
100.2
99.2
100.9
99.8
100.1
98.3
97.8

91.0
95.7
97.6
99.8
100.6
100.6
99.3
100.0
97.8
98.0

91.2
95.4
97.1
100.0
101.1
101.1
98.8
99.7
97.9
98.5

91.0
96.1
98.2
98.8
101.6
101.4
98.8
99.9
97.5
98.3

92.3
96.4
100.2
98.8
101.8
102.4
98.8
99.6
97.8
97.0

91.6
96.5
100.7
99.2
98.5
102.4
98.1
99.6
98.6
96.9

91.3
92.6
96.2
101.9
98.0
98.7
103.1
99.4
98.9
97.9

90.1
93.7
97.1
101.5
97.2
100.7
101.0
100.5
97.3
97.7

90.9
96.3
97.2
100.0
100.3
100.9
99.3
99.9
98.0
98.1

91.6
96.3
99.7
98.9
100.6
102.1
98.6
99.7
98.0
97.4

91.0
94.7
97.5
100.6
99.0
100.6
100.5
99.9
98.0
97.8

1965
1966
1967
1968
1969
1970
1971
1972
1973
1974

96.3
95.8
99.3
100.9
104.7
111.8
113.1
112.5
115.0
122.4

96.3
96.8
99.5
101.5
104.6
111.5
113.3
113.7
115.7
123.2

95.8
96.4
100.3
101.8
105.2
112.4
113.6
114.1
115.7
123.5

95.2
97.0
99.5
102.2
106.0
112.2
113.3
113.3
116.8
124.4

95.0
97.0
100.0
102.1
106.9
112.1
113.4
113.7
116.3
125.2

95.3
97.4
100.3
102.2
106.8
112.6
113.1
113.7
116.9
125.7

94.4
97.3
100.9
102.8
106.9
112.8
112.8
113.2
117.2
126.8

94.8
98.3
101.0
102.9
107.7
112.9
114.2
113.1
117.6
127.6

94.9
98.2
100.4
103.6
108.0
112.9
112.4
113.2
117.8
128.4

95.3
97.9
99.7
104.5
108.2
112.9
112.0
113.1
118.9
131.6

96.0
99.2
99.7
104.0
108.6
112.8
111.9
113.5
119.9
135.5

95.6
98.7
100.0
104.9
109.8
112.8
113.3
113.5
120.8
140.8

96.1
96.3
99.7
101.4
104.8
111.9
113.3
113.4
115.5
123.0

95.2
97.1
99.9
102.2
106.6
112.3
113.3
113.6
116.7
125.1

94.7
97.9
100.8
103.1
107.5
112.9
113.1
113.2
117.5
127.6

95.6
98.6
99.8
104.5
108.9
112.8
112.4
113.4
119.9
136.0

95.4
97.5
100.0
102.8
107.0
112.5
113.0
113.4
117.4
127.9

1975
1976
1977
1978
1979
1980
1981
1982

144.1
143.9
149.3
161.6
170.4
183.9
202.4
226.9

145.6
143.0
151.2
163.5
171.5
185.6
201.8
224.2

147.7
143.4
150.7
163.5
171.5
188.0
203.4
224.5

145.9
144.0
151.8
162.5
175.0
192.0
205.2
226.9

145.7
144.3
152.9
163.4
173.5
196.8
206.2
229.1

143.3
144.2
154.0
163.7
174.4
201.3
207.9
229.6

141.3
144.5
154.6
164.2
176.4
202.4
207.8
228.6

141.0
145.3
155.5
164.4
178.3
203.0
208.7
227.7

140.8
146.7
156.5
165.4
178.9
201.7
211.1
228.2

142.4
147.1
157.1
165.9
179.5
200.8
215.2
229.3

141.9
148.1
158.1
167.2
180.1
200.6
218.1
230.4

143.1
148.5
159.4
168.1
181.8
200.8
220.7
230.7

145.8
143.4
150.4
162.9
171.1
185.8
202.5
225.2

145.0
144.2
152.9
163.2
174.3
196.7
206.4
228.5

141.0
145.5
155.5
164.7
177.9
202.4
209.2
228.2

142.5
147.9
158.2
167.1
180.5
200.7
218.0
230.1

143.6
145.2
154.3
164.4
175.9
196.4
209.0
228.0

1955
1956
1957
1958
1959
1960
1961 ...•.
1962
1963
1964

62. Index of labor cost per unit of output, manufacturing—actual data
[1967=100]

Average for period

62. Index of labor cost per unit of output, manufacturing- -actual data as a percent of trend
[Percent]

Average for period

1947
1948
1949
1950
1951
1952
1953
1954

98l
101.7
102.7
96.9
96.9
102.6
101.4
103.4

97.9
101.2
102.8
96.4
98.2
102.3
101.2
103.3

98.2
102.1
101.4
95.4
98.9
102.6
101.7
103.4

98.0
101.2
101.3
94.3
100.4
102.5
101.6
103.0

99.1
100.4
101.8
94.6
100.5
103.2
101.0
102.5

98.7
100.4
100.7
93.1
101.5
103.6
101.5
101.6

98.2
101.8
100.2
92.4
102.5
101.2
100.9
101.2

97.9
102.9
98.6
91.9
103.3
101.8
100.3
101.5

99.7
103.3
97.9
93.1
103.0
101.8
100.3
100.4

99.2
102.3
97.9
95.3
102.3
101.7
101.2
100.7

99.1
104.0
96.3
96.9
102.6
100.9
102.1
101.3

100.5
102.9
97.0
97.0
103.2
101.8
103.5
100.2

98.0
101.7
102.3
96.2
98.0
102.5
101.4
103.4

98.6
100.7
101.3
94.0
100.8
103.1
101.4
102.4

98.6
102.7
98.9
92.5
102.9
101.6
100.5
101.0

99.6
103.1
97.1
96.4
102.7
101.5
102.3
100.7

98.7
102.0
99.9
94.8
101.1
102.2
101.4
101.9

1955
1956
1957
1958
1959
1960
1961
1962
1963
1964

98.5
97.3
99.6
103.0
99.2
97.2
102.5
99.8
100.4
100.1

98.6
97.5
98.9
103.5
98.4
98.4
102.8
99.3
100.0
100.6

97.5
98.1
99.1
104.2
98.3
99.5
102.2
99.5
99.8
101.5

96.6
97.8
99.9
104.3
97.5
99.5
100.9
100.6
98.6
100.7

96.4
98.2
99.9
103.1
97.4
100.3
100.7
100.8
98.6
100.8

96.4
98.6
99.5
101.2
97.9
100.8
100.2
101.2
99.1
101.2

96.6
102.0
99.3
101.4
99.4
100.3
99.5
100.6
100.0
101.3

96.9
99.7
99.9
100.9
100.7
100.0
99.1
100.6
99.7
101.5

97.0
99.2
99.3
101.0
101.2
100.4
98.7
100.4
100.0
102.1

96.6
99.8
100.3
99.7
101.6
100.7
98.8
100.6
99.7
102.0

97.8
99.9
102.2
99.6
101.7
101.7
98.9
100.4
100.2
100.7

96.9
99.9
102.6
99.9
98.3
101.7
98.2
100.6
101.2
100.6

98.2
97.6
99.2
103.6
98.6
98.4
102.5
99.5
100.1
100.7

96.5
98.2
99.8
102.9
97.6
100.2
100.6
100.9
98.8
100.9

96.8
100.3
99.5
101.1
100.4
100.2
99.1
100.5
99.9
101.6

97.1
99.9
101.7
99.7
100.5
101.4
98.6
100.5
100.4
101.1

97.2
99.0
100.0
101.8
99.3
100.0
100.2
100.4
99.8
101.1

1965
1966
1967
1968
1969
1970
1971
1972
1973
1974

100.0
99.1
100.4
98.8
99.6
105.4
103.2
98.8
96.5
97.7

100.0
100.0
100.4
99.0
99.4
104.8
103.1
99.5
96.7
97.8

99.5
99.4
101.1
99.0
100.0
105.4
103.1
99.4
96.3
97.5

98.9
99.9
100.0
99.2
100.7
104.9
102.5
98.4
96.9
97.7

98.7
99.7
100.2
98.8
101.5
104.5
102.3
98.3
96.1
97.8

99.0
99.9
100.2
98.7
101.4
104.7
101.7
98.0
96.2
97.6

98.0
99.6
100.6
99.0
101.4
104.6
101.1
97.2
96.1
97.9

98.4
100.5
100.4
98.9
102.1
104.4
102.0
96.7
96.1
98.0

98.5
100.2
99.5
99.3
102.3
104.1
100.1
96.4
95.9
98.0

98.9
99.6
98.5
99.9
102.4
103.8
99.4
96.0
96.4
99.8

99.5
100.7
98.2
99.2
102.7
103.5
99.0
96.0
96.7
102.3

99.0
100.0
98.2
99.8
103.8
103.2
99.9
95.6
97.0
105.8

99.8
99.5
100.6
98.9
99.7
105.2
103.1
99.2
96.5
97.7

98.9
99.8
100.1
98.9
101.2
104.7
102.2
98.2
96.4
97.7

98.3
100.1
100.2
99.1
101.9
104.4
101.1
96.8
96.0
98.0

99.1
100.1
98.3
99.6
103.0
103.5
99.4
95.9
96.7
102.6

99.0
99.9
99.8
99.1
101.4
104.4
101.4
97.5
96.4
99.0

108.4
100.5
100.6
101.7
99.1
99.2
99.8
102.2

109.4
100.3
99.8
101.1
98.4
99.9
99.9
101.7

107.6
100.2
100.0
99.9
99.8
101.4
100.1
102.1

106.9
100.0
100.2
99.8
98.3
103.3
99.9
102.4

104.6
99.4
100.4
99.4
98.2
105.0
100.0
102.0

102.7
99.2
100.2
99.1
98.6
104.9
99.3
100.9

102.0
99.4
100.2
98.7
99.0
104.5
99.0
99.9

101.4
99.9
100.2
98.7
98.7
103.2
99.5
99.4

102.0
99.7
100.0
98.4
98.4
102.1
100.7
99.3

101.2
99.9
100.1
98.5
98.1
101.3
101.4
99.1

101.5
99.7
100.3
98.4
98.4
100.7
101.9
98.6

108.5
100.8
100.1
101.3
98.9
99.4
100.2
102.7

106.4
99.9
100.2
99.7
98.8
103.2
100.0
102.2

102.0
99.5
100.2
98.8
98.8
104.2
99.3
100.1

101.6
99.8
100.1
98.4
98.3
101.4
101.3
99.0

104.6
100.0
100.2
99.6
98.7
102.0
100.2
101.0

1975
107.8
1976
101.6
1977
99.8
1978
101.1
1979
99.1
1980
99.0
1981
100.8
1982
104.1
See footnotes at end of this part.




89

Year

Jan.

Feb.

Mar.

Apr.

May

Monthly
June
July

Aug.

1947
1948
1949
1950
1951
1952
1953
1954

6.13
7.73
9.33
8.99
9.33
12.48
12.45
13.62

6.32
7.84
9.52
9.03
9.49
12.55
12.40
13.64

6.43
7.96
9.64
9.09
9.65
12.64
12.41
13.71

65. Manufacturers' inventories, finished goods, book value
[BMons of dolars]
6.57
6.69
7.10
6.83
7.28
8.02
8.13
8.43
8.22
8.53
9.53
9.39
9.62
9.52
9.25
9.03
8.79
9.10
9.08
8.57
10.43
11.55
10.91
12.05
9.98
12.33
12.31
12.34
12.35
12.57
12.66
12.93
12.80
13.14
12.47
13.46
13.45
13.47
13.32
13.56

1955
1956
1957
1958
1959
1960
1961
1962
1963
1964

13.55
14.20
16.35
16.90
16.34
17.33
18.57
18.99
20.05
20.76

13.61
14.39
16.40
16.83
16.40
17.56
18.69
18.96
20.07
20.87

13.65
14.48
16.52
16.82
16.46
17.73
18.63
19.03
20.04
20.96

13.60
14.59
16.56
16.68
16.54
17.91
18.75
19.04
19.96
21.07

13.62
14.82
16.72
16.58
16.59
18.11
18.72
19.27
20.07
21.14

13.62
15.24
16.78
16.52
16.48
18.21
18.76
19.44
20.29
21.10

13.61
15.42
16.89
16.52
16.63
18.37
18.70
19.63
20.21
21.19

1965
1966
1967
1968
1969
1970
1971
1972
1973
1974

21.74
22.75
25.51
27.22
28.78
31.53
34.49
34.86
35.72
38.87

21.78
22.87
25.74
27.25
29.05
31.85
34.60
34.94
35.82
39.37

21.83
23.03
25.88
27.31
29.30
32.05
34.82
35.15
36.16
40.00

21.63
23.08
26.20
27.32
29.59
32.69
34.64
35.34
36.21
40.59

21.74
23.32
26.41
27.46
29.95
32.71
34.66
35.53
36.60
40.99

21.87
23.58
26.43
27.57
30.14
32.98
34.65
35.82
36.95
41.71

1975
1976
1977
1978
1979
1980
1981
1982

49.08
50.20
55.76
60.69
66.26
74.13
79.89
89.14

49.37
50.67
55.94
60.67
67.10
75.05
81.01
89.78

49.68
51.09
56.12
61.00
67.32
76.14
82.63
89.90

49.54
51.44
56.33
61.40
68.26
77.89
82.96
89.19

49.43
51.76
57.24
61.79
68.62
79.00
84.65
88.32

49.30
52.62
57.58
62.21
69.38
79.34
85.30
87.56

Sept.

Oct.

Nov.

Dec.

IQ

Quarterly
IIQ ill Q

7.37
8.80
9.13
8.68
12.34
12.36
13.31
13.28

7.57
8.95
9.12
8.85
12.32
12.33
13.47
13.32

7.55
8.99
8.92
9.17
12.22
12.32
13.57
13.28

7.54
9.15
8.98
9.22
12.28
12.33
13.62
13.46

6.43
7.96
9.64
9.09
9.65
12.64
12.41
13.71

6.83
8.22
9.52
9.10
10.91
12.34
12.80
13.47

13.72
15.71
16.92
16.36
16.83
18.39
18.84
19.76
20.36
21.19

13.75
15.96
16.88
16.18
16.84
18.66
18.70
19.88
20.50
21.18

13.82
16.02
16.86
16.15
16.85
18.60
18.94
19.98
20.54
21.43

13.88
16.21
16.74
16.30
16.96
18.58
18.96
19.97
20.66
21.50

14.01
16.19
16.75
16.35
17.10
18.64
18.81
20.12
20.74
21.62

13.65
14.48
16.52
16.82
16.46
17.73
18.63
19.03
20.04
20.96

13.62
15.24
16.78
16.52
16.48
18.21
18.76
19.44
20.29
21.10

22.04
23.83
26.51
27.64
30.30
33.24
34.38
35.83
37.04
42.71

22.01
24.00
26.71
27.89
30.51
33.44
34.53
36.36
36.93
43.65

22.15
24.31
26.81
28.18
30.70
33.65
34.74
36.19
37.17
44.62

22.25
24.52
26.84
28.33
30.74
33.98
35.11
35.96
37.38
45.65

22.40
24.88
26.91
28.51
31.08
34.24
35.01
35.95
37.64
46.96

22.54
25.19
27.07
28.77
31.26
34.20
34.90
35.93
38.21
48.16

21.83
23.03
25.88
27.31
29.30
32.05
34.82
35.15
36.16
40.00

48.98
53.16
58.06
62.62
70.05
79.91
85.50
88.22

49.28
53.79
58.10
63.43
70.52
80.23
87.08
88.30

49.63
54.45
58.50
63.59
71.32
79.88
88.30
87.79

49.81
55.45
59.35
63.74
71.48
79.57
89.34
87.61

49.98
55.13
59.86
64.58
71.71
80.04
90.00
86.40

50.27
55.54
59.94
65.31
72.89
80.08
89.55
85.07

IV Q

End of period
7.37
8.80
9.13
8.68
12.34
12.36
13.31
13.28

Annual

7.54
9.15
8.98
9.22
12.28
12.33
13.62
13.46

7.54
9.15
8.98
9.22
12.28
12.33
13.62
13.46

13.75
15.96
16.88
16.18
16.84
18.66
18.70
19.88
20.50
21.18

14.01
16.19
16.75
16.35
17.10
18.64
18.81
20.12
20.74
21.62

14.01
16.19
16.75
16.35
17.10
18.64
18.81
20.12
20.74
21.62

21.87
23.58
26.43
27.57
30.14
32.98
34.65
35.82
36.95
41.71

22.15
24.31
26.81
28.18
30.70
33.65
34.74
36.19
37.17
44.62

22.54
25.19
27.07
28.77
31.26
34.20
34.90
35.93
38.21
48.16

22.54
25.19
27.07
28.77
31.26
34.20
34.90
35.93
38.21
48.16

49.68
51.09
56.12
61.00
67.32
76.14
82.63
89.90

49.30
52.62
57.58
62.21
69.38
79.34
85.30
87.56

49.63
54.45
58.50
63.59
71.32
79.88
88.30
87.79

50.27
55.54
59.94
65.31
72.89
80.08
89.55
85.07

50.27
55.54
59.94
65.31
72.89
80.08
89.55
85.07

6,901
9,278
11,946
15,166
15,859
20,121
23,870
24,470

6,901
9,278
11,946
15,166
15,859
20,121
23,870
24,470

instalment credtt
of dolars}

End of period
6,130
9,027
11,054
15,038
15,458
18,613
23,428
23,984

1947
1948
1949
1950
1951
1952
1953
1954

4,515
7,167
9,371
12,232
15,386
15,953
20,563
23,809

4,740
7,342
9,520
12,546
15,516
16,046
20,984
23,821

4,956
7,719
9,667
12,801
15,531
16,169
21,569
23,744

5,184
7,987
9,870
13,027
15,429
16,345
21,944
23,743

5,398
8,197
10,130
13,344
15,385
16,892
22,334
23,725

5,600
8,378
10,373
13,768
15,357
17,524
22,605
23,770

5,784
8,583
10,571
14,300
15,222
17,929
22,952
23,837

5,959
8,786
10,800
14,649
15,327
18,224
23,203
23,878

6,130
9,027
11,054
15,038
15,458
18,613
23,428
23,984

6,345
9,074
11,375
15,179
15,550
19,198
23,655
24,101

6,625
9,167
11,684
15,145
15,710
19,593
23,846
24,223

6,901
9,278
11,946
15,166
15,859
20,121
23,870
24,470

4,956
7,719
9,667
12,801
15,531
16,169
21,569
23,744

5,600
8,378
10,373
13,768
15,357
17,524
22,605
23,770

1955
1956
1957
1958
1959
1960
1961
1962
1963
1964

24,777
30,093
32,814
34,933
35,135
40,863
44,596
45,590
50,878
57,782

25,151
30,39933,053
34,846
35,499
41,255
44,656
46,007
51,499
57,997

25,732
30,798
33,232
34,679
35,891
41,825
44,502
46,184
51,857
59,147

26,243
31,048
33,378
34,540
36,316
42,348
44,323
46,686
52,466
59,679

26,773
31,288
33,642
34,456
36,802
42,691
44,270
47,137
52,974
60,399

27,337
31,443
33,814
34,324
37,321
43,055
44,310
47,587
53,530
61,023

27,756
31,571
34,088
34,317
37,891
43,325
44,352
48,027
54,141
61,659

28,302
31,823
34,283
34,277
38,528
43,550
44,475
48,461
54,736
62,239

28,838
31,987
34,476
34,364
39,127
43,826
44,669
48,866
55,304
62,982

29,130
32,187
34,653
34,311
39,698
43,996
44,854
49,297
55,976
63,563

29,451
32,479
34,804
34,437
40,121
44,227
45,119
49,862
56,511
63,966

29,809
32,660
34,914
34,736
40,421
44,335
45,438
50,375
57,056
64,674

25,732
30,798
33,232
34,679
35,891
41,825
44,502
46,184
51,857
59,147

27,337
31,443
33,814
34,324
37,321
43,055
44,310
47,587
53,530
61,023

28,838
31,987
34,476
34,364
39,127
43,826
44,669
48,866
55,304
62,982

29,809
32,660
34,914
34,736
40,421
44,335
45,438
50,375
57,056
64,674

29,809
32,660
34,914
34,736
40,421
44,335
45,438
50,375
57,056
64,674

1965
1966
1967
1968
1969
1970
1971
1972
1973
1974

65,406
73,468
78,506
81,774
90,987
99,973
106,716
116,870
134,989
154,058

66,281
74,195
78,930
81,904
92,448
100,468
107,424
116,751
136,998
155,245

66,760
74,604
78,969
83,331
92,905
100,515
107,901
118,947
138,615
155,514

67,677
74,953
78,967
84,030
93,830
100,473
108,480
120,345
140,197
156,498

68,458
75,292
79,034
84,724
94,780
100,717
109,105
121,692
142,229
157,880

69,081
75,660
79,367
85,442
95,611
101,346
109,825
123,347
143,995
159,058

69,780
76,187
79,587
86,170
96,339
102,179
110,771
124,383
145,927
160,221

70,444
76,608
79,976
86,782
96,913
102,714
111,823
125,896
147,425
161,438

71,108
76,950
80,395
87,440
97,718
103,322
112,956
127,130
148,806
162,245

71,602
77,268
80,571
88,347
98,376
103,458
113,885
128,339
150,481
162,501

72,212
77,690
81,136
89,189
99,076
103,268
115,143
129,685
152,017
162,376

72,814
78,162
81,783
90,112
99,381
103,905
116,434
131,258
152,910
162,203

66,760
74,604
78,969
83,331
92,905
100,515
107,901
118,947
138,615
155,514

69,081
75,660
79,367
85,442
95,611
101,346
109,825
123,347
143,995
159,058

71,108
76,950
80,395
87,440
97,718
103,322
112,956
127,130
148,806
162,245

72,814
78,162
81,783
90,112
99,381
103,905
116,434
131,258
152,910
162,203

72,814
78,162
81,783
90,112
99,381
103,905
116,434
131,258
152,910
162,203

1975
1976
1977
1978
1979
1980
1981
1982

162,647
170,886
194,170
229,739
273,707
310,489
309,765
328,059

163,755
169,612
197,086
233,173
278,525
308,653
312,736
328,781

163,842
165,719
164,870
162,213
162,408
162,080
162,433
180,664
184,482
182,486
175,601
178,940
177,150
173,686
211,597
217,440
214,522
203,067
208,847
206,090
199,950
252,402
258,928
255,702
239,955
249,074
244,473
236,567
293,179
299,556
296,109
284,753
287,905
290,265
280,963
304,422
305,396
305,599
311,396
305,080
313,399
308,029
321,466
326,083
323,272
316,792
318,794
319,859
314,663
334,276
335,180
334,343
330,634
333,884
328,999
332,142
69. Manufacturers' machinery and equipment sales and business construction expenditures
[Annual rate, bWons of dolars]

166,924
186,594
220,284
261,786
302,570
306,473
326,867
335,593

168,028
188,129
223,655
265,461
305,601
307,649
326,504
336,897

169,387
190,725
226,646
269,392
307,115
308,137
326,274
339,316

162,433
173,686
199,950
236,567
280,963
313,399
314,663
328,999

162,408
178,940
208,847
249,074
290,265
305,080
319,859
333,884

165,719
184,482
217,440
258,928
299,556
305,396
326,083
335,180

169,387
190,725
226,646
269,392
307,115
308,137
326,274
339,316

169,387
190,725
226,646
269,392
307,115
308,137
326,274
339,316

Average for period

1947
1948
1949
1950
1951
1952
1953
1954

33.49
31.49

33.85
30.46

33.28
29.39

34.04
28.90

33.70
28.48

32.31
28.27

32.82
29.26

31.30
28.29

31.39
28.36

31.93
27.34

31.02
28.22

30.48
29.06

33.54
30.45

33.35
28.55

31.84
28.64

31.14
28.21

32.47
28.96

1955
1956
1957
1958
1959
1960
1961
1962
1963
1964

29.70
34.51
41.77
38.04
36.71
41.00
40.60
42.41
44.34
50.23

31.14
35.07
42.65
36.64
37.56
40.62
40.81
43.51
45.16
50.04

31.75
35.56
41.47
36.47
37.99
41.20
40.27
44.23
44.72
50.57

31.60
38.02
41.29
35.24
38.39
41.62
40.42
44.82
46.07
51.32

32.37
38.51
40.89
34.63
39.50
41.92
40.07
45.51
46.87
52.58

32.82
39.99
40.68
35.45
39.79
41.59
40.58
45.66
46.60
53.35

32.26
39.50
39.99
34.32
41.31
42.53
39.90
45.10
47.58
55.65

33.24
39.51
41.24
35.16
40.24
40.26
41.69
46.17
47.82
53.98

34.21
39.34
40.39
35.26
40.74
41.31
42.16
45.30
48.18
54.64

34.20
40.62
40.62
35.07
40.50
40.97
42.58
45.12
48.91
55.26

34.39
41.84
40.01
36.04
40.17
40.65
42.90
45.16
48.45
55.66

34.93
42.51
38.09
35.74
41.08
41.08
43.17
44.10
48.65
57.15

30.86
35.05
41.96
37.05
37.42
40.94
40.56
43.38
44.74
50.28

32.26
38.84
40.95
35.11
39.23
41.71
40.36
45.33
46.51
52.42

33.24
39.45
40.54
34.91
40.76
41.37
41.25
45.52
47.86
54.76

34.51
41.66
39.57
35.62
40.58
40.90
42.88
44.79
48.67
56.02

32.72
38.75
40.76
35.67
39.50
41.23
41.26
44.76
46.95
53.37

1965
1966
1967
1968
1969
1970
1971
1972
1973
1974

57.47
68.12
73.16
94.67
97.66
103.16
101.47
114.28
125.44
151.09

58.39
68.05
72.80
91.65
99.90
105.99
101.95
113.74
124.03
153.01

60.22
70.90
72.08
92.59
102.45
104.72
103.46
114.87
127.84
153.04

61.01
71.08
71.47
93.90
101.35
105.25
101.79
114.97
132.27
154.28

61.24
71.24
71.89
91.69
101.65
104.91
103.23
115.20
133.44
156.28

61.38
72.83
73.12
91.34
102.92
101.86
104.85
115.25
135.94
161.95

62.42
73.78
73.51
91.55
104.87
103.86
102.98
114.70
140.74
159.60

62.02
75.01
74.35
92.42
105.15
103.13
104.14
116.65
139.88
159.53

64.06
74.94
74.52
93.96
107.83
101.22
106.02
115.40
142.47
164.83

65.42
75.80
73.56
95.40
107.10
100.38
105.56
116.57
145.34
168.28

66.65
74.33
74.63
96.66
106.32
100.98
106.78
119.32
150.63
169.02

68.95
75.05
77.93
94.18
106.30
102.38
113.33
120.90
149.53
163.26

58.69
69.02
72.68
92.97
100.00
104.62
102.29
114.30
125.77
152.38

61.21
71.72
72.16
92.31
101.97
104.01
103.29
115.14
133.88
157.50

62.83
74.58
74.13
92.64
105.95
102.74
104.38
115.58
141.03
161.32

67.01
75.06
75.37
95.41
106.57
101.25
108.56
118.93
148.50
166.85

62.44
72.59
73.58
93.33
103.62
103.15
104.63
115.99
137.30
159.51

1975
1976
1977
1978
1979
1980
1981
1982

164.03
160.01
182.41
209.53
265.79
312.09
333.32
334.30

164.23
164.79
184.61
215.16
267.25
319.30
331.22
344.06

159.61
165.88
188.57
217.60
279.21
315.73
343.78
343.89

160.46
167.62
191.37
229.70
275.48
310.09
346.11
328.44

159.70
170.60
194.45
226.94
281.27
310.46
345.55
334.75

159.34
170.05
191.61
235.22
281.16
311.08
353.96
332.35

158.94
170.88
198.29
238.14
291.60
314.67
350.15
326.06

159.52
173.76
201.66
244.93
298.26
305.33
359.04
316.23

158.88
173.20
202.81
251.83
295.49
321.27
360.03
320.13

161.93
175.04
207.70
253.54
301.89
322.81
349.75
308.63

160.27
178.03
208.55
257.17
296.30
323.36
357.85
310.31

158.80
185.00
210.65
260.98
305.03
324.70
353.04
310.02

162.62
163.56
185.20
214.10
270.75
315.71
336.11
340.75

159.83
169.42
192.48
230.62
279.30
310.54
348.54
331.85

159.11
172.61
200.92
244.97
295.12
313.76
356.41
320.81

160.33
179.36
208.97
257.23
301.07
323.62
353.55
309.65

160.48
171.24
196.89
236.73
286.56
315.91
348.65
325.76

90



Year

Quarterly

Monthly
Jan.

Feb.

Mar.

Apr.

May

June

July

Aug.

Sept.

Oct.

Nov.

Dec.

IV Q

JL5_

70. Manufacturing and trade inventories in 1972 dolars
[BMons of dolars]

Annual

End of period

1947
1948
1949
1950
1951
1952
1953
1954

76.48
81.38
79.68
88.45
99.29
105.30
106.26

76.94
81.67
79.50
89.15
99.22
105.54
105.93

77.41
81.69
80.08
90.18
99.32
106.01
105.51

77.69
81.33
80.42
91.52
99.33
106.98
105.00

77.95
81.30
81.30
93.14
99.09
107.31
104.59

78.92
81.33
81.97
94.42
99.72
107.76
104.05

80.03
81.47
80.93
95.32
99.70
108.56
103.56

80.16
81.49
82.79
96.40
99.68
108.50
102.95

80.24
81.79
83.73
96.80
100.90
108.56
102.88

80.35
81.28
84.68
97.50
101.91
107.84
102.41

80.35
80.50
86.11
98.08
102.51
107.12
102.78

80.11
79.50
86.59
98.51
102.95
106.78
102.62

77.41
81.69
. 80.08
90.18
99.32
106.01
105.51

78.92
81.33
81.97
94.42
99.72
107.76
104.05

80.24
81.79
83.73
96.80
100.90
108.56
102.88

80.11
79.50
86.59
98.51
102.95
106.78
102.62

80.11
79.50
86.59
98.51
102.95
106.78
102.62

1955
1956
1957
1958
1959
1960
1961
1962
1963
1964

102.94
107.80
113.45
112.03
111.57
118.30
119.62
122.32
128.10
133.81

103.01
108.85
113.26
111.52
111.94
119.40
119.30
122.94
128.50
134.20

103.71
109.04
113.23
111.20
112.51
120.32
118.85
123.77
128.97
134.63

103.60
110.09
113.51
110.68
113.86
120.11
118.84
123.84
129.11
135.27

104.23
110.70
113.50
110.20
114.29
120.62
118.95
124.65
129.58
135.60

105.19
111.20
113.64
109.99
115.16
120.84
119.03
125.26
130.30
136.24

105.77
111.73
113.88
109.84
115.84
121.16
119.16
125.65
130.92
136.56

106.39
112.11
114.48
109.55
116.05
121.00
119.67
126.04
131.28
136.72

106.25
112.68
114.88
110.24
115.58
121.50
120.27
126.71
131.80
137.77

106.78
112.76
113.82
110.48
115.88
121.41
120.52
127.36
132.58
137.93

106.90
113.28
113.55
110.72
115.87
121.52
121.17
127.46
132.92
138.80

107.20
113.22
113.61
111.42
117.36
120.11
121.59
127.78
133.06
139.82

103.71
109.04
113.23
111.20
112.51
120.32
118.85
123.77
128.97
134.63

105.19
111.20
113.64
109.99
115.16
120.84
119.03
125.26
130.30
136.24

106.25
112.68
114.88
110.24
115.58
121.50
120.27
126.71
131.80
137.77

107.20
113.22
113.61
111.42
117.36
120.11
121.59
127.78
133.06
139.82

107.20
113.22
113.61
111.42
117.36
120.11
121.59
127.78
133.06
139.82

1965
1966
1967
1968
1969
1970
1971
1972
1973
1974

140.92
150.14
166.74
174.62
182.62
190.53
194.65
200.40
209.82
222.14

141.44
151.60
167.60
174.93
183.55
191.27
195.11
200.46
210.93
222.93

142.99
152.93
168.44
175.02
184.31
191.57
196.12
200.92
211.53
224.44

143.61
153.90
169.10
176.10
185.04
192.54
196.76
201.80
212.37
224.97

144.18
155.38
169.43
177.40
186.13
192.13
197.44
203.08
213.24
226.25

145.08
157.09
169.51
177.94
186.67
192.81
198.06
203.36
214.25
227.96

146.32
158.14
169.92
178.32
187.74
193.72
198.17
203.37
215.43
227.77

147.17
159.38
170.94
179.44
188.59
194.37
198.73
204.90
215.14
227.04

147.30
160.29
171.29
180.02
189.57
194.29
199.52
206.13
216.33
229.57

147.69
162.14
171.33
181.13
190.20
193.99
199.56
206.89
217.04
229.63

148.39
163.76
172.58
181.52
190.48
194.24
199.21
207.76
219.00
230.55

149.25
165.17
173.85
181.89
191.14
194.04
200.01
208.02
221.30
233.00

142.99
152.93
168.44
175.02
184.31
191.57
196.12
200.92
211.53
224.44

145.08
157.09
169.51
177.94
186.67
192.81
198.06
203.36
214.25
227.96

147.30
160.29
171.29
180.02
189.57
194.29
199.52
206.13
216.33
229.57

149.25
165.17
173.85
181.89
191.14
194.04
200.01
208.02
221.30
233.00

149.25
165.17
173.85
181.89
191.14
194.04
200.01
208.02
221.30
233.00

1975
1976
1977
1978
1979
1980
1981
1982

231.80
225.58
235.70
247.15
261.05
264.71
263.85
267.83

230.13
226.48
236.44
248.26
261.76
264.84
265.04
266.93

229.84
227.53
237.08
250.48
262.18
264.96
264.56
266.28

226.54
224.67
227.12
228.08
224.88
229.23
231.36
231.11
228.50
231.10
239.07
242.13
239.78
238.13
240.70
253.35
255.46
253.79
252.37
254.21
264.13
266.76
264.81
263.06
266.64
266.82
265.18
265.88
266.68
265.70
266.30
267.72
266.20
264.42
266.72
265.27
265.79
265.88
267.04
266.21
71. Manufacturing and trade inventories, book value
[BBons of dolars]

226.57
233.58
243.78
256.17
265.18
264.96
269.30
266.01

225.16
233.33
243.97
257.18
266.06
264.70
269.65
264.90

224.07
233.70
244.92
258.36
265.11
264.36
270.78
262.12

225.19
235.08
246.18
259.67
264.45
264.09
269.42
261.21

229.84
227.53
237.08
250.48
262.18
264.96
264.56
266.28

227.12
231.11
239.78
253.79
264.81
265.88
266.20
265.88

226.57
233.58
243.78
256.17
265.18
264.96
269.30
266.01

225.19
235.08
246.18
259.67
264.45
264.09
269.42
261.21

225.19
235.08
246.18
259.67
264.45
264.09
269.42
261.21

End of period

1947
1948
1949
1950
1951
1952
1953
1954

47.52
53.30
49.66
62.26
70.72
74.01
75.73

48.24
53.33
49.63
63.74
70.63
74.19
75.44

48.83
53.06
50.07
65.27
70.62
74.64
75.12

49.20
52.41
50.37
66.65
70.43
75.37
74.74

49.36
51.87
51.06
67.87
70.05
75.69
74.42

50.11
51.42
51.67
68.65
70.23
76.17
74.04

51.06
51.05
51.40
69.10
69.99
76.96
73.70

51.49
50.81
53.23
69.53
69.91
77.19
73.24

51.92
50.89
54.71
69.53
70.80
77.41
73.17

52.34
50.56
56.38
69.77
71.58
76.99
72.85

52.58
50.10
58.37
69.98
72.06
76.40
73.20

52.51
49.50
59.82
70.24
72.38
76.12
73.18

48.83
53.06
50.07
65.27
70.62
74.64
75.12

50.11
51.42
51.67
68.65
70.23
76.17
74.04

51.92
50.89
54.71
69.53
70.80
77.41
73.17

52.51
49.50
59.82
70.24
72.38
76.12
73.18

52.51
49.50
59.82
70.24
72.38
76.12
73.18

1955
1956
1957
1958
1959
1960
1961
1962
1963
1964

73.55
80.27
87.85
87.67
87.14
92.92
94.43
96.18
101.24
106.02

73.82
81.33
88.05
87.92
87.44
93.96
94.21
96.76
101.56
106.40

74.45
81.75
88.21
87.44
87.89
94.73
93.68
97.41
101.78
106.82

74.52
82.84
88.52
86.65
89.07
94.74
93.68
97.56
101.88
107.39

75.02
83.51
88.51
86.08
89.58
95.31
93.75
98.31
102.33
107.78

75.69
84.04
88.58
85.94
90.48
95.52
93.66
98.81
102.80
108.25

76.24
84.52
88.83
85.74
91.18
95.90
93.87
99.19
103.23
108.48

76.98
84.96
89.42
85.59
91.33
95.72
94.32
99.67
103.72
108.86

77.39
85.63
89.88
85.95
90.94
95.88
94.72
100.39
104.28
110.02

78.33
86.05
89.16
86.26
91.23
95.80
94.88
100.91
105.04
110.01

78.91
86.94
88.99
86.55
91.14
95.85
95.50
100.95
105.44
110.76

79.52
87.30
89.05
87.09
92.13
94.72
95.60
101.06
105.48
111.50

74.45
81.75
88.21
87.44
87.89
94.73
93.68
97.41
101.78
106.82

75.69
84.04
88.58
85.94
90.48
95.52
93.66
98.81
102.80
108.25

77.39
85.63
89.88
85.95
90.94
95.88
94.72
100.39
104.28
110.02

79.52
87.30
89.05
87.09
92.13
94.72
95.60
101.06
105.48
111.50

79.52
87.30
89.05
87.09
92.13
94.72
95.60
101.06
105.48
111.50

1965
1966
1967
1968
1969
1970
1971
1972
1973
1974

112.46
121.76
137.86
145.74
156.61
169.39
178.41
188.35
204.63
236.83

112.99
123.24
138.45
146.54
157.95
170.44
179.36
188.99
207.04
240.06

114.28
124.42
139.19
147.10
159.26
171.12
180.64
189.84
209.37
244.39

114.89
125.44
139.74
148.31
160.28
172.38
181.66
191.11
211.60
247.28

115.58
127.02
140.18
149.65
161.67
172.34
182.80
192.81
214.50
252.06

116.44
128.72
140.43
150.48
162.65
173.41
183.25
193.45
217.17
256.96

117.48
130.06
140.92
150.98
163.85
174.64
184.00
194.08
219.39
262.00

118.48
131.49
141.94
152.24
165.00
175.67
185.10
196.15
221.40
265.89

118.88
132.64
142.52
153.08
166.38
176.30
186.14
197.76
223.40
271.29

119.35
134.19
142.52
154.36
167.52
176.48
186.60
199.04
225.38
276.46

120.11
135.60
143.68
155.02
168.22
177.31
186.52
200.61
228.74
281.00

120.91
136.79
144.80
155.70
169.34
177.56
187.76
201.95
233.24
285.81

114.28
124.42
139.19
147.10
159.26
171.12
180.64
189.84
209.37
244.39

116.44
128.72
140.43
150.48
162.65
173.41
183.25
193.45
217.17
256.96

118.88
132.64
142.52
153.08
166.38
176.30
186.14
197.76
223.40
271.29

120.91
136.79
144.80
155.70
169.34
177.56
187.76
201.95
233.24
285.81

120.91
136.79
144.80
155.70
169.34
177.56
187.76
201.95
233.24
285.81

1975
1976
1977
1978
1979
1980
1981
1982

286.94
290.10
320.92
354.06
403.75
455.64
496.10
523.65

286.24
292.39
323.70
357.35
408.60
460.72
501.21
521.29

285.27
294.60
326.68
362.48
412.13
465.10
502.94
520.44

286.69
312.03
342.90
384.80
439.12
485.04
522.39
521.00

288.20
314.08
344.59
389.26
444.16
487.58
524.17
519.80

287.99
316.21
347.69
393.84
446.95
489.58
527.16
513.89

288.38
318.54
351.04
398.89
450.74
492.88
526.15
511.94

285.27
294.60
326.68
362.48
412.13
465.10
502.94
520.44

283.58
303.60
334.27
374.53
427.15
476.61
511.70
521.04

286.69
312.03
342.90
384.80
439.12
485.04
522.39
521.00

288.38
318.54
351.04
398.89
450.74
492.88
526.15
511.94

288.38
318.54
351.04
398.89
450.74
492.88
526.15
511.94

1947
1948
1949
1950
1951
1952
1953
1954

10,475
13,417
14,055
12,677
16,503
19,632
21,227
21,000

10,713
13,358
13,979
12,764
17,116
19,641
21,277
21,064

11,149
13,371
13,861
12,763
17,579
19,761
21,430
21,036

284.04
283.58
285.19
285.30
284.09
299.54
303.60
297.02
306.24
307.87
334.27
330.08
335.94
332.33
339.02
374.53
367.72
377.36
371.25
381.24
427.15
417.98
434.13
422.58
437.65
476.61
472.13
479.30
474.94
482.39
511.70
504.87
514.00
508.56
518.48
521.04
523.37
521.14
519.12
521.26
72. Commercial and industrial loans outstanding in current dolars
s of dolars]
11,592
11,639
11,770
11,506
12,019
13,834
13,473
14,385
14,507
14,065
13,605
12,660
13,409
13,163
12,833
12,849
14,057
12,936
13,619
13,242
18,079
18,865
18,453
18,646
18,757
19,742
20,190
19,809
20,141
19,969
21,675
21,934
21,816
21,747
21,778
20,967
19,804
20,811
20,651
20,650

12,250
14,461
12,641
14,696
18,968
20,381
21,819
19,753

12,548
14,356
12,670
15,027
19,111
20,650
21,640
19,718

12,904
14,196
12,604
15,462
19,194
21,031
21,451
19,955

13,158
14,087
12,573
15,986
19,411
21,133
21,058
20,314

10,779
13,382
13,965
12,735
17,066
19,678
21,311
21,033

11,579
13,791
13,392
13,009
18,393
19,840
21,746
20,809

Average for period
12,013
12,870
14,451
14,213
12,711
12,616
14,124
15,492
18,863
19,239
20,237
20,938
21,844
21,383
20,069
19,996

11,810
13,959
13,171
13,840
18,390
20,173
21,571
20,477

1955
1956
1957
1958
1959
1960
1961
1962
1963
1964

20,529
24,515
28,695
29,171
28,567
31,433
32,999
33,582
36,039
38,931

20,692
24,686
28,720
28,835
28,583
31,870
32,966
33,712
36,126
39,195

20,916
25,414
29,182
28,728
28,820
32,093
33,111
33,907
36,251
39,201

21,049
25,932
29,503
28,554
29,092
32,293
33,079
34,121
36,458
39,554

21,416
26,448
29,650
28,168
29,573
32,591
33,020
34,269
36,626
39,882

21,796
26,799
30,033
28,079
30,042
33,011
32,955
34,509
36,740
40,137

22,244
27,145
30,245
28,039
30,026
32,993
33,012
34,740
36,872
40,428

22,664
27,418
30,285
27,941
30,456
32,840
33,131
35,038
37,047
40,839

22,977
27,778
30,374
28,122
30,646
32,956
33,214
35,318
37,341
41,418

23,421
27,858
29,969
28,215
30,915
32,996
33,215
35,635
37,821
41,625

23,771
28,199
29,573
28,342
31,076
33,118
33,280
35,939
38,579
42,068

24,110
28,395
29,517
28,496
31,288
33,018
33,429
35,986
39,045
42,737

20,712
24,872
28,866
28,911
28,657
31,799
33,025
33,734
36,139
39,109

21,420
26,393
29,729
28,267
29,569
32,632
33,018
34,300
36,608
39,858

22,628
27,447
30,301
28,034
30,376
32,930
33,119
35,032
37,087
40,895

23,767
28,151
29,686
28,351
31,093
33,044
33,308
35,853
38,482
42,143

22,132
26,716
29,646
28,391
29,924
32,601
33,118
34,730
37,079
40,501

1965
1966
1967
1968
1969
1970
197J
1972
1973
1974

43,562
53,195
61,876
67,254
77,048
88,521
90,944
84,478
94,279
113,967

44,618
54,071
62,404
67,415
77,843
90,023
91,625
85,260
98,034
116,322

45,563
54,805
63,100
67,732
79,091
91,243
91,904
86,195
100,124
117,738

46,203
55,377
63,598
68,877
81,132
91,333
90,891
87,342
101,768
122,857

47,209
56,139
63,998
69,067
82,277
91,864
91,662
87,906
103,074
125,111

47,718
57,228
64,682
69,598
83,502
92,444
90,706
88,268
105,166
126,537

48,072
58,223
65,083
70,294
83,909
92,433
89,951
88,429
106,581
130,706

49,139
59,360
64,862
71,359
85,141
93,072
91,627
88,800
108,505
133,304

50,141
59,950
65,155
72,318
86,404
93,435
93,437
88,593
108,458
137,429

50,812
60,578
65,644
73,153
87,358
91,680
92,465
90,502
109,664
138,352

51,650
61,043
66,161
74,374
88,070
91,082
92,301
91,408
110,877
139,734

52,300
61,332
67,068
75,150
89,059
91,069
91,788
92,111
111,764
139,873

44,581
54,024
62,460
67,467
77,994
89,929
91,491
85,311
97,479
116,009

47,043
56,248
64,093
69,181
82,304
91,880
91,086
87,839
103,336
124,835

49,117
59,178
65,033
71,324
85,151
92,980
91,672
88,607
107,848
133,813

51,587
60,984
66,291
74,226
88,162
91,277
92,185
91,340
110,768
139,320

48,082
57,608
64,469
70,549
83,403
91,517
91,608
88,274
104,858
128,494

1975
140,652
139,605
125,758
1976
125,349
125,824
1977
124,450
135,658
1978
135,158
158,818
1979
156,487
196,003
1980
191,892
212,204
1981
211,841
257,318
1982
252,112
See footnotes at end of this part.

138,152
123,490
126,179
138,536
160,803
198,987
210,484
259,299

136,564
120,789
126,925
140,620
166,262
199,207
214,356
264,651

133,750
121,069
127,740
143,029
168,693
197,502
220,005
268,405

131,397
122,018
128,990
145,547
172,102
201,874
224,269
271,042

130,713
121,328
128,860
146,937
175,813
200,401
228,645
271,707

129,579
121,083
130,214
147,792
179,510
201,140
233,421
272,101

128,146
120,710
130,848
148,769
184,298
202,808
238,357
273,934

126,999
121,770
132,174
150,501
184,899
204,099
240,455
274,160

126,131
123,317
133,272
152,486
183,895
208,596
243,965
268,847

126,245
124,225
134,372
152,870
186,969
210,377
246,682
263,475

139,470
124,866
125,484
136,451
158,703
195,627
211,510
256,243

133,904
121,292
127,885
143,065
169,019
199,528
219,543
268,033

129,479
121,040
129,974
147,833
179,874
201,450
233,474
272,581

126,458
123,104
133,273
151,952
185,254
207,691
243,701
268,827

132,328
122,576
129,154
144,825
173,212
201,074
227,057
266,421




91

Monthly

Year

Jan.

Feb.

Mar.

Apr.

May

June

Quarterly

July

Aug.

Sept.

Oct.

Nov.

Dec.

73. Index of industrial production, durable manufactures
[1967=100]

!4_

IIO

HI Q

IV Q

Annual

Average for period

1947
1948
1949
1950
1951
1952
1953
1954

36.6
39.0
38.1
36.5
48.4
50.1
58.7
52.7

37.0
38.7
37.4
37.0
48.9
50.4
59.2
52.2

37.6
38.9
36.8
37.8
49.6
50.7
59.9
51.4

37.8
38.4
36.1
40.2
49.9
50.1
60.1
51.0

37.9
38.9
35.2
42.0
49.5
50.4
60.1
51.3

38.0
39.5
35.2
44.1
49.3
48.1
59.6
51.4

37.1
40.1
35.2
45.7
48.2
45.8
60.4
50.9

37.2
39.9
35.5
47.6
47.9
51.8
60.2
50.8

37.7
39.5
36.3
47.2
48.4
54.4
58.6
50.7

37.8
40.0
33.0
47.6
48.4
55.5
58.0
51.5

38.4
39.3
33.4
47.7
49.2
57.1
55.7
52.5

38.7
38.7
35.2
48.2
49.6
57.8
53.9
53.4

37.1
38.9
37.4
37.1
49.0
50.4
59.3
52.1

37.9
38.9
35.5
42.1
49.6
49.5
59.9
51.2

37.3
39.8
35.7
46.8
48.2
50.7
59.7
50.8

38.3
39.3
33.9
47.8
49.1
56.8
55.9
52.5

37.7
39.3
35.7
43.5
48.9
51.9
58.7
51.8

1955
1956
1957
1958
1959
1960
1961
1962
1963
1964

54.9
61.2
63.2
54.3
59.6
67.5
57.7
66.1
70.5
75.5

55.8
60.6
63.9
52.4
60.9
66.9
57.1
67.5
71.0
75.9

57.4
60.6
63.5
51.4
62.3
65.4
57.3
68.0
71.3
76.1

58.3
61.9
62.5
50.3
64.1
64.3
59.3
68.5
72.3
77.2

59.6
60.6
61.7
50.7
65.5
63.8
60.6
68.0
73.3
77.5

59.6
60.4
62.7
52.5
66.1
62.5
61.7
67.6
73.6
77.7

60.0
55.7
62.3
52.9
62.8
62.4
62.8
68.3
73.3
78.6

60.3
60.0
62.6
54.2
58.7
62.1
64.1
68.8
73.2
79.2

60.2
61.7
61.5
54.9
58.2
61.2
63.1
69.3
73.9
79.9

61.2
62.5
60.0
55.1
57.9
60.9
64.5
69.5
74.7
77.5

60.9
62.3
58.2
58.4
58.6
59.4
66.1
69.9
74.9
81.3

61.5
63.4
56.0
58.5
65.0
57.6
67.1
70.1
74.9
83.3

56.0
60.8
63.5
52.7
60.9
66.6
57.4
67.2
70.9
75.8

59.2
61.0
62.3
51.2
65.2
63.5
60.5
68.0
73.1
77.5

60.2
59.1
62.1
54.0
59.9
61.9
63.3
68.8
73.5
79.2

61.2
62.7
58.1
57.3
60.5
59.3
65.9
69.8
74.8
80.7

59.2
61.1
61.6
53.9
61.9
62.9
61.8
68.6
73.1
78.3

1965
1966
1967
1968
1969
1970
1971
1972
1973
1974

84.0
94.8
100.5
104.4
109.8
105.2
101.4
107.0
122.5
126.3

84.8
95.6
99.2
105.0
110.1
104.8
101.5
108.3
124.3
125.6

86.3
97.0
98.5
104.7
110.9
104.9
101.2
109.3
124.8
126.0

87.1
98.1
99.1
105.1
110.6
104.1
101.4
111.2
125.3
126.0

88.0
98.5
98.9
106.7
109.6
103.6
102.7
111.7
126.3
127.5

88.8
99.0
98.7
107.2
110.7
103.1
102.7
112.3
127.1
128.5

90.5
99.4
98.5
106.9
111.2
103.2
102.2
112.9
128.4
128.5

90.5
99.7
99.9
106.5
111.5
103.0
100.3
114.6
127.5
128.6

90.6
100.8
99.4
106.4
111.9
101.4
102.5
116.4
129.2
129.1

91.3
102.1
100.1
107.0
111.9
97.1
103.7
118.4
129.3
126.6

91.7
100.3
102.8
108.6
110.0
96.5
103.8
120.0
129.8
121.6

93.7
100.9
103.8
108.8
109.0
100.3
104.6
121.8
129.7
114.7

85.0
95.8
99.4
104.7
110.3
105.0
101.4
108.2
123.9
126.0

88.0
98.5
98.9
106.3
110.3
103.6
102.3
111.7
126.2
127.3

90.5
100.0
99.3
106.6
111.5
102.5
101.7
114.6
128.4
128.7

92.2
101.1
102.2
108.1
110.3
98.0
104.0
120.1
129.6
121.0

89.0
98.9
100.0
106.5
110.6
102.3
102.4
113.7
127.1
125.7

1975
1976
1977
1978
1979
1980
1981
1982

109.0
116.5
124.6
132.1
147.0
144.8
141.0
127.1

105.6
118.8
125.0
132.3
147.2
144.4
140.8
129.3

104.7
119.9
127.5
135.0
148.6
143.5
142.1
128.2

105.4
120.5
128.4
137.6
144.5
138.5
142.5
126.7

105.5
122.5
129.6
137.9
147.6
133.3
143.5
126.1

107.0
123.0
130.7
139.0
147.6
129.9
143.2
125.5

109.3
124.3
131.3
141.1
147.2
128.7
143.6
125.9

112.3
125.1
131.5
141.8
144.4
129.9
143.4
124.9

113.5
123.2
132.1
142.9
145.9
132.1
140.9
123.5

112.7
122.6
132.8
144.6
146.0
135.7
137.8
120.3

113.4
124.7
133.0
145.5
145.2
139.2
134.4
119.3

114.4
126.3
134.0
146.8
144.8
140.3
131.3
119.9

106.4
118.4
125.7
133.1
147.6
144.2
141.3
128.2

106.0
122.0
129.6
138.2
146.6
133.9
143.1
126.1

111.7
124.2
131.6
141.9
145.8
130.2
142.6
124.8

113.5
124.5
133.3
145.6
145.3
138.4
134.5
119.8

109.3
122.3
130.0
139.7
146.4
136.7
140.5
124.7

74. Index of industrial production, nondurable manufactures
[1967=100]

Average for period

1947
1948
1949
1950
1951
1952
1953
1954

41.6
42.5
41.8
43.7
49.7
47.7
50.9
50.1

41.4
42.7
41.8
44.2
49.7
47.9
51.5
50.4

41.4
42.4
41.6
44.6
49.3
47.8
51.7
50.7

41.0
42.9
40.9
45.4
49.3
47.9
51.7
50.6

40.6
43.1
40.9
45.8
49.1
47.4
52.2
50.9

40.4
43.4
41.3
46.2
48.7
48.7
51.7
51.2

40.9
43.1
41.2
47.6
48.1
49.1
51.9
51.4

41.0
42.7
41.8
48.8
47.3
49.7
51.5
51.3

41.2
42.6
42.7
48.3
47.1
50.1
51.1
52.1

41.9
42.6
43.3
48.5
46.6
50.7
50.7
52.5

42.4
42.2
43.1
48.4
47.1
51.3
50.2
53.1

42.3
42.0
43.3
49.5
47.3
51.4
49.5
54.0

41.5
42.5
41.7
44.2
49.6
47.8
51.4
50.4

40.7
43.1
41.0
45.8
49.0
48.0
51.9
50.9

41.0
42.8
41.9
48.2
47.5
49.6
51.5
51.6

42.2
42.3
43.2
48.8
47.0
51.1
50.1
53.2

41.3
42.7
42.0
46.7
48.3
49.2
51.2
51.6

1955
1956
1957
1958
1959
1960
1961
1962
1963
1964

54.5
59.8
60.9
59.9
65.5
70.0
68.3
74.0
77.2
82.7

54.9
59.9
61.4
59.6
66.5
69.4
68.7
75.0
78.1
83.1

56.0
59.7
61.7
59.3
66.7
69.7
69.3
75.5
78.8
82.8

56.4
60.1
60.8
59.0
67.5
69.8
70.1
75.3
79.6
84.7

57.2
59.7
61.0
59.7
67.7
69.9
70.5
75.7
79.9
85.3

57.3
59.3
60.9
61.0
67.4
69.6
71.2
75.7
79.9
85.0

57.3
59.7
61.4
61.7
68.6
69.7
71.6
76.1
79.7
85.7

56.9
60.1
61.5
62.6
68.5
68.9
72.2
75.9
80.7
86.0

57.7
60.1
61.6
63.0
68.7
68.8
72.1
76.5
81.0
86.0

58.5
60.6
60.9
63.6
67.9
69.0
73.6
76.1
81.4
86.5

59.3
60.3
60.3
64.4
68.0
68.3
74.5
76.6
81.7
86.9

59.8
60.9
60.2
64.4
68.9
68.1
74.9
76.8
81.8
87.7

55.1
59.8
61.3
59.6
66.2
69.7
68.8
74.8
78.0
82.9

57.0
59.7
60.9
59.9
67.5
69.8
70.6
75.6
79.8
85.0

57.3
60.0
61.5
62.4
68.6
69.1
72.0
76.2
80.5
85.9

59.2
60.6
60.5
64.1
68.3
68.5
74.3
76.5
81.6
87.0

57.2
60.1
61.1
61.6
67.7
69.3
71.5
75.8
80.0
85.2

1965
1966
1967
1968
1969
1970
1971
1972
1973
1974

88.9
94.1
98.8
102.8
108.9
112.2
113.6
122.1
130.3
135.5

89.1
94.5
98.3
103.6
110.3
112.6
113.5
122.7
•132.4
135.7

89.7
95.7
97.9
104.3
110.7
111.9
113.5
123.7
133.3
136.8

89.6
95.3
99.4
104.4
110.5
112.2
114.6
125.1
132.9
136.5

90.1
96.4
97.8
105.6
111.1
112.3
115.1
125.1
134.4
137.5

90.4
96.6
98.7
106.2
111.6
112.4
116.1
125.9
133.4
137.6

90.9
97.4
98.2
105.9
112.8
113.1
117.2
126.0
133.8
137.4

91.3
97.5
100.3
107.2
112.6
111.7
117.0
127.5
134.5
137.2

91.7
97.7
101.4
107.9
112.3
112.3
118.2
128.0
134.0
136.4

92.4
97.8
102.2
108.1
112.3
112.4
119.5
129.0
135.0
133.6

92.9
98.2
102.6
109.0
112.4
111.9
120.1
129.9
135.1
128.9

93.5
98.4
103.3
108.0
112.8
112.8
120.9
131.7
135.2
123.1

89.2
94.8
98.3
103.6
110.0
112.2
113.5
122.8
132.0
136.0

90.0
96.1
98.6
105.4
111.1
112.3
115.3
125.4
133.6
137.2

91.3
97.5
100.0
107.0
112.6
112.4
117.5
127.2
134.1
137.0

92.9
98.1
102.7
108.4
112.5
112.4
120.2
130.2
135.1
128.5

90.9
96.7
100.0
106.2
111.5
112.3
116.6
126.5
133.8
134.6

1975
1976
1977
1978
1979
1980
1981
1982

119.8
138.0
146.5
152.4
161.6
166.0
165.6
155.1

118.4
140.3
147.3
152.9
162.9
165.8
166.2
157.8

116.1
140.6
149.1
153.8
164.0
164.3
165.3
157.3

118.8
140.9
149.5
155.5
162.6
161.6
165.9
156.1

120.8
140.4
150.5
155.8
163.6
158.1
166.4
155.0

125.5
141.2
151.1
157.0
163.7
155.1
165.8
155.3

128.1
141.6
151.3
157.2
164.8
154.6
167.1
155.7

130.5
141.4
151.6
158.4
165.2
157.6
167.3
156.9

132.9
143.4
151.7
159.3
165.4
161.0
165.9
156.7

133.6
143.9
152.3
159.5
164.8
162.1
162.8
156.2

136.2
144.0
152.4
160.4
165.0
163.0
160.3
155.3

136.9
144.4
152.4
161.7
165.3
165.0
157.4
155.6

118.1
139.6
147.6
153.0
162.8
165.4
165.7
156.7

121.7
140.8
150.4
156.1
163.3
158.3
166.0
155.5

130.5
142.1
151.5
158.3
165.1
157.7
166.8
156.4

135.6
144.1
152.4
160.5
165.0
163.4
160.2
155.7

126.4
141.8
150.5
156.9
164.0
161.2
164.8
156.2

42T~
43.7
42.5
45.4
52.4
48.1
53.7
51.1

41.9
43.8
42.4
45.5
52.4
48.5
54.2
51.7

42.0
43.3
42.7
46.4
51.6
48.7
54.2
51.8

41.9
43.7
42.6
47.7
50.7
48.7
54.1
51.8

41.6
43.5
42.6
48.8
49.8
48.6
54.3
52.1

41.6
44.2
43.1
50.1
49.1
50.0
53.5
52.4

41.8
44.2
43.5
51.6
47.5
49.1
53.6
52.6

42.1
43.7
43.9
53.3
46.4
50.1
53.3
52.7

42.5
43.5
44.6
52.0
46.9
51.4
52.5
53.2

43.2
44.0
44.7
51.6
46.6
52.2
52.5
53.3

43.8
43.5
44.1
51.3
47.4
53.3
51.7
54.5

43.9
43.0
43.6
52.1
47.7
53.3
50.9
55.5

42.0
43.6
42.5
45.8
52.1
48.4
54.0
51.5

41.7
43.8
42.8
48.9
49.9
49.1
54.0
52.1

42.1
43.8
44.0
52.3
46.9
50.2
53.1
52.8

43.6
43.5
44.1
51.7
47.2
52.9
51.7
54.4

42.4
43.7
43.4
49.6
49.1
50.2
53.2
52.9

1955
1956
1957
1958
1959
1960
1961
1962
1963
1964

56.7
61.1
62.0
60.9
66.5
71.4
68.6
75.1
79.2
84.0

56.9
60.9
62.8
60.5
67.0
70.6
69.0
75.5
80.1
83.8

58.0
60.8
62.9
60.0
67.0
70.7
69.0
76.1
80.4
83.4

58.4
61.1
62.3
59.4
68.1
71.1
70.7
76.8
80.7
85.5

59.2
60.7
62.4
60.3
68.4
71.6
71.5
77.2
80.9
86.2

58.7
60.6
62.7
61.5
68.1
71.1
72.3
76.7
81.4
86.0

58.9
60.7
62.9
62.4
69.0
70.4
72.9
78.0
81.2
87.2

59.0
61.1
63.3
62.6
69.0
70.6
73.4
77.1
81.8
87.1

59.4
61.0
63.3
61.9
68.8
70.3
72.2
77.6
82.0
86.1

60.5
61.5
62.3
62.4
68.5
71.0
74.2
77.4
82.6
84.4

60.7
61.1
62.1
65.5
67.0
69.7
75.5
77.9
82.7
87.6

61.0
61.6
61.7
65.8
69.2
69.2
75.6
78.2
83.2
89.4

57.2
60.9
62.6
60.5
66.8
70.9
68.9
75.6
79.9
83.7

58.8
60.8
62.5
60.4
68.2
71.3
71.5
76.9
81.0
85.9

59.1
60.9
63.2
62.3
68.9
70.4
72.8
77.6
81.7
86.8

60.7
61.4
62.0
64.6
68.2
70.0
75.1
77.8
82.8
87.1

59.0
61.2
62.6
62.1
68.1
70.7
72.2
77.1
81.3
85.9

1965
1966
1967
1968
1969
1970
1971
1972
1973
1974

90.7
95.6
99.0
103.3
108.9
108.0
112.2
119.8
129.5
128.3

90.9
95.9
98.4
104.1
109.8
108.8
112.1
120.6
130.5
127.8

91.7
96.6
98.8
104.3
110.0
109.1
112.3
121.5
131.4
128.5

91.5
96.9
99.3
104.5
109.1
109.6
113.0
122.5
131.2
129.6

92.0
96.9
99.0
105.2
108.2
110.1
113.2
123.0
132.1
130.3

92.3
97.3
98.8
105.7
109.3
110.3
113.9
123.2
131.2
131.2

92.3
97.2
98.6
105.5
110.9
110.5
115.5
124.0
131.4
131.2

92.2
96.8
99.7
106.8
111.3
109.2
115.1
125.5
130.2
132.2

93.6
97.2
100.0
107.1
110.5
108.4
115.8
126.2
132.9
131.1

94.1
99.2
101.5
107.8
110.6
106.9
117.0
127.5
133.1
129.7

94.6
98.7
103.1
108.9
109.4
106.3
117.9
128.4
132.4
126.2

95.1
98.5
104.0
108.3
109.5
110.5
118.8
130.4
130.5
121.0

91.1
96.0
98.7
103.9
109.6
108.6
112.2
120.6
130.5
128.2

91.9
97.0
99.0
105.1
108.9
110.0
113.4
122.9
131.5
130.4

92.7
97.1
99.4
106.5
110.9
109.4
115.5
125.2
131.5
131.5

94.6
98.8
102.9
108.3
109.8
107.9
117.9
128.8
132.0
125.6

92.6
97.3
100.0
105.9
109.8
109.0
114.7
124.4
131.5
128.9

1975
1976
1977
1978
1979
1980
1981
1982

117.0
133.1
141.4
143.2
151.3
147.9
146.9
139.6

116.1
135.0
142.1
145.2
151.8
148.2
147.8
141.8

117.0
135.5
144.5
147.5
153.4
148.0
148.3
141.5

119.0
136.2
144.6
149.5
149.3
145.2
148.9
142.1

120.4
137.1
145.2
149.0
152.2
142.1
150.7
143.6

124.3
137.5
146.3
149.3
152.1
141.8
150.3
144.8

126.6
137.5
146.8
149.8
151.2
142.1
150.7
145.8

127.5
137.8
146.5
150.6
148.7
142.9
149.6
144.1

129.0
136.8
146.4
150.8
150.0
144.5
147.8
143.4

128.7
137.5
147.1
151.2
150.0
146.3
146.5
142.2

131.1
139.4
146.6
151.3
149.1
148.1
144.0
141.3

132.3
141.4
146.2
151.5
148.6
147.1
142.0
142.0

116.7
134.5
142.7
145.3
152.2
148.0
147.7
141.0

121.2
136.9
145.4
149.3
151.2
143.0
150.0
143.5

127.7
137.4
146.6
150.4
150.0
143.2
149.4
144.4

130.7
139.4
146.6
151.3
149.2
147.2
144.2
141.8

124.0
137.1
145.3
149.1
150.8
145.4
147.9
142.6

75. Index of industrial production, consumer goods
[1967 = 100]

1947
1948
1949
1950
1951
1952
1953
1954

v

92



Average for period

Quarterly

Monthly
Year

Jan.

Feb.

May

Mar.

June

July

Aug.

Sept.

Oct.

Nov.

Dec.

IQ

IIQ

76. Index of industrial production, business equipment
[1967 = IOC]

111 Q

IV Q

Annual

Average for period

1947
1948
1949
1950
1951
1952
1953
1954

36.6
39.6
37.7
31.8
41.7
50.3
53.4
49.2

37.0
39.4
37.6
32.8
42.2
50.9
53.6
48.6

37.2
39.7
36.7
33.2
42.8
51.3
54.0
47.8

37.7
39.4
36.1
34.1
43.9
51.1
54.0
47.0

37.9
39.3
35.3
35.6
44.3
51.4
53.7
46.9

38.2
39.8
34.7
37.0
44.8
51.7
53.4
46.3

37.5
40.0
34.1
38.2
45.2
49.2
54.2
46.2

38.2
39.9
33.8
40.3
45.8
50.1
54.0
45.9

38.7
39.7
33.6
39.3
46.8
51.3
53.4
45.4

39.0
39.2
32.2
40.1
47.6
51.8
53.4
45.3

39.0
39.0
31.2
40.5
48.4
52.4
51.5
46.1

39.3
38.6
31.3
41.1
49.0
53.0
50.7
46.3

36.9
39.6
37.3
32.6
42.2
50.8
53.7
48.5

37.9
39.5
35.4
35.6
44.3
51.4
53.7
46.7

38.1
39.9
33.8
39.3
45.9
50.2
53.9
45.8

39.1
38.9
31.6
40.6
48.3
52.4
51.9
45.9

38.0
39.5
34.5
37.0
45.2
51.2
53.3
46.8

1955
1956
1957
1958
1959
1960
1961
1962
1963
1964

46.6
55.5
62.6
54.8
54.1
60.9
56.6
60.1
63.4
70.3

47.3
56.3
64.0
52.8
54.8
61.3
56.1
60.9
64.4
69.9

47.8
56.9
63.6
517
55.4
61.4
56.0
61.7
64.0
70.8

49.4
58.6
62.4
50.7
56.8
60.7
56.6
62.1
64.5
72.4

50.1
58.4
61.3
49.4
58.7
60.9
56.7
62.1
64.4
73.2

50.7
58.6
61.5
49.4
60.1
60.1
57.1
62.7
64.6
73.5

50.9
58.6
61.8
49.7
60.2
59.4
57.4
63.2
65.5
74.5

51.2
59.3
61.7
50.6
59.7
58.6
57.7
63.9
67.1
74.4

51.5
59.5
60.9
51.1
59.2
58.1
58.6
63.8
66.9
75.1

53.9
60.0
59.2
51.7
58.8
57.6
58.5
64.1
68.1
74.5

54.2
61.0
57.7
52.6
57.8
57.5
60.1
64.1
68.6
77.0

55.1
61.7
55.9
53.0
58.7
56.2
60.3
63.7
68.5
78.4

47.2
56.2
63.4
53.1
54.8
61.2
56.2
60.9
63.9
70.3

50.1
58.5
61.7
49.8
58.5
60.6
56.8
62.3
64.5
73.0

51.2
59.1
61.5
50.5
59.7
58.7
57.9
63.6
66.5
74.7

54.4
60.9
57.6
52.4
58.4
57.1
59.6
64.0
68.4
76.6

50.8
58.8
61.1
51.5
57.9
59.4
57.7
62.7
65.8
73.7

1965
1966
1967
1968
1969
1970
1971
1972
1973
1974

78.2
93.4
100.3
103.2
109.9
109.8
101.9
110.1
128.2
137.7

79.6
93.2
100.4
103.5
109.5
109.9
103.0
111.7
130.3
139.2

80.6
95.0
100.0
104.5
111.1
109.7
102.3
114.0
130.1
140.3

81.3
95.7
100.5
104.1
112.3
109.4
102.1
115.1
131.7
141.3

82.5
97.0
100.4
105.7
111.7
108.8
101.5
116.2
133.1
143.6

83.7
97.9
99.8
105.4
112.8
108.1
102.3
117.3
134.3
143.8

85.1
99.5
97.5
104.0
113.9
108.1
103.8
116.6
134.7
145.2

85.1
99.9
99.4
105.8
113.9
107.2
104.1
119.2
135.8
144.4

86.8
101.0
99.3
106.3
114.5
105.3
105.9
120.8
136.7
146.5

88.0
100.7
98.4
107.5
115.0
102.2
106.7
123.2
137.7
144.4

89.7
99.2
101.5
107.7
112.2
102.0
106.9
125.1
137.8
143.0

91.6
100.6
102.4
108.1
112.2
104.0
108.2
126.2
138.6
138.7

79.5
93.9
100.2
103.7
110.2
109.8
102.4
111.9
129.5
139.1

82.5
96.9
100.2
105.1
112.3
108.8
102.0
116.2
133.0
142.9

85.7
100.1
98.7
105.4
114.1
106.9
104.6
118.9
135.7
145.4

89.8
100.2
100.8
107.8
113.1
102.7
107.3
124.8
138.0
142.0

84.4
97.7
100.0
105.5
112.5
107.0
104.1
118.0
134.2
142.4

1975
1976
1977
1978
1979
1980
1981
1982

130.8
130.6
142.1
152.0
168.2
175.2
177.7
172.2

128.0
132.6
142.8
153.6
169.3
176.5
177.5
171.6

125.7
133.2
143.2
156.5
171.0
176.2
179.3
169.0

125.6
133.2
146.0
158.0
168.7
174.5
181.0
164.9

126.0
133.8
147.1
158.4
171.2
171.8
182.0
159.9

126.6
134.8
148.2
160.1
171.2
169.7
183.6
156.7

127.3
136.8
149.1
161.7
171.3
169.5
184.8
154.9

129.9
137.1
149.9
163.4
171.6
171.1
184.4
153.9

129.2
135.6
151.0
163.8
173.4
170.7
182.7
150.5

128.8
135.2
150.8
164.8
172.3
171.9
180.5
147.1

129.6
139.3
150.8
165.0
172.6
173.9
179.0
146.4

131.6
141.3
152.3
166.8
174.1
177.1
179.0
148.1

128.2
132.1
142.7
154.0
169.5
176.0
178.2
170.9

126.1
133.9
147.1
158.8
170.4
172.0
182.2
160.5

128.8
136.5
150.0
163.0
172.1
170.4
184.0
153.1

130.0
138.6
151.3
165.5
173.0
174.3
179.5
147.2

128.2
135.4
147.8
160.3
171.3
173.2
181.1
157.9

77. Ratio, manufacturing and trade inventories t sales in 1972 dolars
[Ratio]

Average for period

1947
1948
1949
1950
1951
1952
1953
1954

1.46
1.53
1.49
1.41
1.66
1.57
1.66

1.47
1.53
1.46
1.46
1.64
1.55
1.64

1.46
1.54
1.45
1.50
1.65
1.54
1.64

1.46
1.54
1.44
1.55
1.63
1.55
1.62

1.49
1.56
1.42
1.57
1.61
1.56
1.64

1.49
1.52
1.38
1.60
1.61
1.59
1.61

1.49
1.57
1.26
1.65
1.65
1.58
1.61

1.49
1.54
1.28
1.62
1.61
1.61
1.61

1.50
1.51
1.38
1.63
1.58
1.63
1.60

1.50
1.56
1.42
1.63
1.55
1.62
1.58

1.50
1.52
1.49
1.65
1.56
1.65
1.54

1.49
1.52
1.42
1.67
1.54
1.68
1.51

1.46
1.53
1.47
1.46
1.65
1.55
1.65

1.48
1.54
1.41
1.57
1.62
1.57
1.62

1.49
1.54
1.31
1.63
1.61
1.61
1.61

1.50
1.53
1.44
1.65
1.55
1.65
1.54

1.48
1.54
1.41
1.58
1.61
1.59
1.60

1955
1956
1957
1958
1959
1960
1961
1962
1963
1964

1.49
1.47
1.51
1.60
1.50
1.49
1.60
1.49
1.52
1.49

1.48
1.50
1.50
1.62
1.48
1.51
1.59
1.50
1.50
1.49

1.46
1.49
1.51
1.64
1.47
1.53
1.55
1.49
1.50
1.50

1.44
1.50
1.54
1.64
1.46
1.52
1.57
1.49
1.49
1.48

1.44
1.52
1.55
1.63
1.45
1.55
1.54
1.50
1.51
1.47

1.46
1.52
1.54
1.59
1.46
1.55
1.52
1.52
1.50
1.48

1.46
1.59
1.55
1.58
1.48
1.57
1.54
1.51
1.49
1.46

1.47
1.55
1.55
1.54
1.53
1.57
1.51
1.51
1.50
1.47

1.45
1.54
1.57
1.55
1.53
1.56
1.51
1.52
1.51
1.47

1.46
1.53
1.57
1.53
1.53
1.57
1.49
1.51
1.50
1.49

1.45
1.53
1.58
1.51
1.53
1.59
1.49
1.49
1.52
1.49

1.45
1.51
1.62
1.55
1.51
1.57
1.49
1.52
1.49
1.45

1.48
1.49
1.51
1.62
1.48
1.51
1.58
1.49
1.51
1.49

1.45
1.51
1.54
1.62
1.46
1.54
1.54
1.50
1.50
1.48

1.46
1.56
1.56
1.56
1.51
1.57
1.52
1.51
1.50
1.47

1.45
1.52
1.59
1.53
1.52
1.58
1.49
1.51
1.50
1.48

1.46
1.52
1.55
1.58
1.49
1.55
1.53
1.50
1.50
1.48

1965
1966
1967
1968
1969
1970
1971
1972
1973
1974

1.46
1.45
1.58
1.58
1.60
1.65
1.68
1.60
1.49
1.56

1.46
1.47
1.60
1.59
1.60
1.65
1.67
1.61
1.49
1.58

1.45
1.46
1.60
1.58
1.60
1.67
1.67
1.59
1.50
1.58

1.45
1.48
1.60
1.59
1.60
1.69
1.66
1.59
1.51
1.58

1.47
1.50
1.60
1.59
1.61
1.67
1.66
1.58
1.53
1.59

1.48
1.50
1.60
1.59
1.61
1.67
1.64
1.58
1.54
1.61

1.46
1.52
1.61
1.57
1.61
1.68
1.66
1.58
1.53
1.61

1.48
1.52
1.59
1.60
1.61
1.69
1.66
1.57
1.55
1.62

1.48
1.53
1.61
1.60
1.61
1.69
1.66
1.56
1.56
1.66

1.47
1.54
1.62
1.59
1.60
1.72
1.66
1.54
1.53
1.69

1.46
1.56
1.59
1.58
1.63
1.74
1.63
1.53
1.52
1.72

1.46
1.57
1.56
1.59
1.64
1.69
1.62
1.51
1.56
1.79

1.46
1.46
1.59
1.58
1.60
1.66
1.67
1.60
1.49
1.57

1.47
1.49
1.60
1.59
1.61
1.68
1.65
1.58
1.53
1.59

1.47
1.52
1.60
1.59
1.61
1.69
1.66
1.57
1.55
1.63

1.46
1.56
1.59
1.59
1.62
1.72
1.64
1.53
1.54
1.73

1.46
1.51
1.60
1.59
1.61
1.68
1.66
1.57
1.53
1.63

1975
1976
1977
1978
1979
1980
1981
1982

1.78
1.65
1.62
1.65
1.62
1.62
1.63
1.78

1.76
1.65
1.61
1.62
1.63
1.64
1.64
1.74

1.81
1.65
1.60
1.62
1.60
1.68
1.64
1.73

1.78
1.64
1.61
1.59
1.64
1.72
1.63
1.75

1.76
1.65
1.61
1.59
1.61
1.74
1.65
1.70

1.75
1.64
1.60
1.59
1.63
1.73
1.64
1.72

1.71
1.64
1.60
1.60
1.64
1.70
1.66
1.73

1.71
1.64
1.60
1.59
1.64
1.71
1.67
1.75

1.71
1.66
1.61
1.60
1.64
1.67
1.69
1.75

1.70
1.67
1.61
1.59
1.64
1.66
1.74
1.79

1.69
1.64
1.60
1.60
1.65
1.65
1.75
1.75

1.68
1.62
1.60
1.60
1.64
1.64
1.76
1.73

1.78
1.65
1.61
1.63
1.62
1.65
1.64
1.75

1.76
1.64
1.61
1.59
1.63
1.73
1.64
1.72

1.71
1.65
1.60
1.60
1.64
1.69
1.67
1.74

1.69
1.64
1.60
1.60
1.64
1.65
1.75
1.76

1.74
1.65
1.61
1.60
1.63
1.68
1.68
1.74

78. Manufacturers' inventories, materials and supples on hand and on order, book value
[Bttons of dolars]

End of period

1947
1948
1949
1950
1951
1952
1953
1954

51.59
42.38

51.76
41.32

51.86
39.84

51.78
38.79

52.16
37.86

51.88
37.19

50.93
36.43

49.69
35.74

47.85
35.88

46.12
36.44

45.04
36.27

43.79
36.35

51.86
39.84

51.88
37.19

47.85
35.88

43.79
36.35

43.79
36.35

1955
1956
1957
1958
1959
1960
1961
1962
1963
1964

37.21
46.24
50.35
40.55
40.18
44.04
38.32
42.05
41.55
44.31

37.77
46.65
50.27
39.56
41.54
43.36
37.95
42.26
41.87
44.38

38.90
46.83
49.83
38.98
42.34
42.17
37.83
42.06
42.45
44.71

39.28
47.80
49.22
38.44
42.73
41.22
37.96
41.42
43.24
44.96

39.76
48.06
48.97
38.05
42.74
40.55
38.19
41.26
43.62
45.33

40.28
47.84
48.47
38.20
43.24
40.10
38.29
41.07
43.46
45.81

41.09
48.97
47.55
38.47
43.38
39.64
38.66
40.89
43.48
46.38

41.74
50.01
46.57
38.61
43.48
39.84
39.46
40.76
43.38
46.80

42.59
50.05
45.99
38.94
44.29
39.93
39.51
40.91
43.68
47.82

43.66
50.29
45.06
39.15
44.80
39.35
39.58
40.92
44.04
49.01

44.37
50.51
44.14
39.69
45.11
39.10
39.92
40.91
43.98
49.86

45.57
50.85
42.97
39.76
45.03
38.42
41.09
40.94
44.00
50.56

38.90
46.83
49.83
38.98
42.34
42.17
37.83
42.06
42.45
44.71

40.28
47.84
48.47
38.20
43.24
40.10
38.29
41.07
43.46
45.81

42.59
50.05
45.99
38.94
44.29
39.93
39.51
40.91
43.68
47.82

45.57
50.85
42.97
39.76
45.03
38.42
41.09
40.94
44.00
50.56

45.57
50.85
42.97
39.76
45.03
38.42
41.09
40.94
44.00
50.56

1965
1966
1967
1968
1969
1970
1971
1972
1973
1974

51.40
58.43
68.41
73.44
75.42
78.42
77.91
77.09
89.56
119.85

52.17
59.66
68.58
73.98
75.58
77.99
78.22
77.85
91.88
123.10

52.83
61.32
68.35
74.01
76.26
77.82
78.28
78.32
94.85
125.43

52.90
62.29
68.54
74.04
77.06
77.68
77.91
78.64
97.09
128.15

53.36
63.29
68.57
73.90
77.87
77.45
77.07
79.42
99.69
132.19

53.79
64.66
69.09
73.32
78.04
77.34
75.79
79.96
101.98
135.89

54.11
65.63
69.69
72.60
78.35
76.72
75.37
80.94
103.89
139.24

54.27
66.77
70.38
72.88
78.27
76.34
75.31
82.36
106.19
142.55

54.99
67.07
70.79
73.15
78.82
76.24
75.22
83.65
108.81
144.47

55.83
67.44
71.08
73.68
79.50
75.96
75.55
84.52
111.62
144.10

56.44
67.68
71.67
74.23
79.18
76.46
75.85
85.95
114.15
144.21

57.49
67.76
72.54
74.91
79.14
76.87
76.43
87.03
117.01
143.52

52.83
61.32
68.35
74.01
76.26
77.82
78.28
78.32
94.85
125.43

53.79
64.66
69.09
73.32
78.04
77.34
75.79
79.96
101.98
135.89

54.99
67.07
70.79
73.15
78.82
76.24
75.22
83.65
108.81
144.47

57.49
67.76
72.54
74.91
79.14
76.87
76.43
87.03
117.01
143.52

57.49
67.76
72.54
74.91
79.14
76.87
76.43
87.03
117.01
143.52

1975
1976
1977
1978
1979
1980
1981
1982

141.91
128.93
138.15
151.16
186.60
215.57
222.56
219.69

140.20
128.82
139.19
152.69
189.94
218.35
222.88
216.87

137.31
130.33
140.43
154.81
193.44
219.92
222.50
214.99

134.11
130.88
141.70
156.91
197.82
219.38
223.77
212.91

132.22
131.93
142.88
159.96
199.07
217.44
225.42
210.88

130.70
132.88
143.57
163.22
202.27
216.44
226.70
207.70

130.30
133.58
143.58
165.54
203.36
217.90
227.75
206.13

129.75
133.07
145.02
168.59
206.24
217.74
226.65
204.01

129.14
133.90
146.38
171.64
206.89
218.29
227.40
201.56

129.18
134.65
147.56
174.57
209.50
219.75
224.39
199.62

129.64
136.35
148.35
178.57
211.61
220.60
222.61
197.77

129.17
136.87
150.44
181.69
212.43
221.20
221.56
196.07

137.31
130.33
140.43
154.81
193.44
219.92
222.50
214.99

130.70
132.88
143.57
163.22
202.27
216.44
226.70
207.70

129.14
133.90
146.38
171.64
206.89
218.29
227.40
201.56

129.17
136.87
150.44
181.69
212.43
221.20
221.56
196.07

129.17
136.87
150.44
181.69
212.43
221.20
221.56
196.07

See footnotes at end of this part.




93

Year

Jan.

Feb.

Mar.

Apr.

May

Monthly
July
June

Sept.

Aug.

Oct.

Nov.

Dec.

IQ

Quarterly
!!Q_
IIIQ

85. Change in money supply Ml
[Percent]
1947
1948
1949
1950
1951
1952
1953
1954
1955
1956
1957
1958
1959
1960
1961
1962
1963
1964
1965
1966
1967
1968
1969
1970
1971
1972
1973
1974
1975
1976
1977
1978
1979
1980
1981
1982

0.27
-.27

.27
.44
.33
0
.16
.54
.23
0
-.30

.79
0
.28
.07
.34
.39

0.09
-.18

0.56
-.54

0.74
-.27

0.55
-.18

0
.55
.35
.41
0
.08

0
.36
.43
.16
.48
.08

.09
.63
.17
.25
.24

.18
.45
.35
.33
.16
.87

.61
0

-.23

-.47

.23
.22
0
.37

0.09

.18

.09

-.09

-.18

.36
.34
.41
0
.16

.45
.43
.24
.08
.31

.35
.43
.32
.08
.31

.30
0
.07
0
.42
.43
.07
0
.59
.76

.53

-.15

.15
-.07

.53
.36

.15
.07
.22
.29

-.07

-.07

-.07
-.14

.42
.27
.40
.32

.21
.20
.20
.13

.14
.34
.40
.19

.07
.37
.71
.07
.42
.27
.40
.38

.37
.53

.37
.75

-.24
-.29

1.03

-.34

.43
.35
.73
.87
.94

.64
.30
.67
.72
.59
.31
.04

.85
.74
.05
.14
.85
.17
.94
.30

.37
.17
.79
.74
.30
.14
.67
.34
.81
.44

-.25

1.11

1.38

.61
.69
.94

.77
.25

.03
.44
.66

.17
.27
.75
.54

-.07

.67
.35
0
.14
-.20

.07
.19

0.36

0

0.36
-.09
-.09

.18
.68
.57
-.08

.16

-0.09
-.09

0.36
-.27

-0.18
-.27

0
.35
.51
.24
.08
.47

.09
.18
.76
.32
0
.46

.18
.26
.58
.16
.08
.15

.15
.37

.15
.07

-.23

.22

.23
.22

.07
.51
.07
.78
.42
0
.26
.63

-.22

-.22

-.15

-.30

.36
.23
.89
.68
.95
.40
.95
.12
.29

.73
.70
.50
.52
.25
.75
.31
.86
.04
.33

.42
.70
.52
.48
.58

-.22

.22

.44

-.56
-.07

-.42
-.21

-.07

.21

.28
.27
.46
.37

.41
.41
.65
.37

.72
.60
.67
.39
.33
.22
.77
.38
.40

.42
.12
.33
.97
.29
.37
.22
.53
.76
.58

.35
.20
.71
.99
.52

-.24

1.01

-.07

.96
.82
.25
.13

.36
.60
.59
.03

.94
.69
.78
.62

-.14

.13
.56

.58
0

0.55
-.18

0.27
-.12

.39
.41
.30
.16
.11

.03
.48
.29
.33
.13
.19

.31
.13
0
.15
.48

.20
.07
0
.47
.33

-.05

-.02

.30
.18
.31
.28

.23
.14
.29
.25

.27
.53
.55
.41
.45
.34
.72
.87
.36
.50

.17
.21
.43
.71
.22
.32
.75
.37
.69
.26

.53
.08
.67
.59
.13
.63
.40
.87
.13
.27

.60
0
.47
.78
.26
.40
.26

.31
.54
.78
.55
.43

.75
.47
.46
.89
.89

.31
.39
.66
.67
.72

.23
.75
.70
.54
.26
.20
.54
1.07

.40
.54
.65
.66
.58
.53
.52
.69

-0.15
-.09

.14
-.28
-.07

.27
.34
-.26

.19
.65
.35
.49
.71
.10
.51
.35

.06
.33
.51
.38
.03
.26

.18
.10
-.06

.24

.39

-.02

-.23
-.12

.31
.14
.05
.27
.15
.30
.37

.38
.23
-.05

.33
.65

.60
.91
.99
.49

.69
.77
.16
.45

-.04

.25
.65
.77
.15
.41

.72
.41
.70
.38
.77
-.15
1.10

1.03
-2.00
1.22

.38

1.07
.77

.52
0

1.26
1.34
.05

1.06
1.24
.49

1.78
.44

1.45
.28

.69

.22

.22

.86

.34
.60
1.13

-.05
.42

.16

.85
-.05
1.19

.51
.83

.13

1.33
-.09
1.07

-.60
1.08

.04

.89

.60

.36

.72

.55
.87
1.13

.11
.62
.63
1.63

-.08

.56

1.07

1.21

.72
.25

90. Ratio, avian employment to population of working age
[Percent]

.37
.46
.31
.09
.23

.05
.17

-.77

-.05

-0.12
-.02

-.22

.49
.65

.61
.57
.20
.19
.49
.79
.23
.18

-.46

.09
.26
.62
.24
.05
.36

.15
.05

1.07

-.06

.49
-.69

0.03
-.21

-.03

.12
.29
.69
.32
.35

.31
.77

Annua!

Average for period

0.36
-.09
-.18

-.15

IV Q

.32
.34
.28
.31

m

.62
.41

.39
.21
.53
.62
.26
.42
.53
.74
.45
.36

Average for period

1947
1948
1949
1950
1951
1952
1953
1954

55.91
55.41
54.36
55.69
55.89
56.15
53.97

56.00
55.40
54.43
55.68
55.85
56.26
54.51

55.45
55.20
54.36
56.31
55.29
56.22
54.03

56.01
54.88
55.12
55.80
55.26
55.68
54.00

55.54
54.65
55.16
56.03
55.47
55.25
53.71

56.35
54.24
55.49
55.46
55.44
55.60
53.57

56.42
54.21
55.40
55.91
55.16
55.50
53.41

55.90
54.36
56.08
55.71
54.95
55.23
53.55

55.91
54.49
55.82
55.39
55.57
54.95
53.89

55.74
54.14
55.98
55.62
55.16
54.89
53.82

55.72
54.80
55.83
55.40
55.68
54.71
53.85

55.99
54.60
55.54
55.97
55.82
53.98
53.59

55.79
55.34
54.38
55.89
55.68
56.21
54.17

55.97
54.59
55.26
55.76
55.39
55.51
53.76

56.08
54.35
55.77
55.67
55.23
55.23
53.62

55.82
54.51
55.78
55.66
55.55
54.53
53.75

55.91
54.70
55.30
55.75
55.46
55.37
53.82

1955
1956
1957
1958
1959
1960
1961
1962
1963
1964

54.12
56.27
55.60
54.60
54.51
54.86
54.50
54.12
54.01
54.11

54.07
56.02
56.10
54.28
54.29
55.04
54.30
54.43
53.90
54.37

54.22
55.88
56.18
54.09
54.73
54.19
54.47
54.34
54.07
54.31

54.67
56.03
55.81
53.96
55.09
55.23
54.02
54.14
54.23
54.71

54.73
56.18
55.71
54.12
54.97
55.26
54.02
54.33
54.14
54.85

54.83
56.11
55.83
53.95
55.04
55.29
54.42
54.29
54.08
54.45

55.44
56.04
56.05
53.92
55.11
55.22
54.04
54.06
54.21
54.51

55.65
56.15
55.49
54.10
54.91
54.95
54.18
54.37
54.15
54.49

55.73
56.18
55.58
54.18
54.80
55.20
53.87
54.46
54.29
54.50

55.72
56.04
55.45
54.36
54.86
54.62
54.13
54.30
54.31
54.43

55.91
55.83
55.07
54.29
54.48
54.93
54.20
54.00
54.21
54.47

56.24
55.89
55.25
54.29
55.11
54.57
54.00
53.99
54.10
54.46

54.14
56.06
55.96
54.32
54.51
54.70
54.42
54.30
53.99
54.26

54.74
56.11
55.78
54.01
55.03
55.26
54.15
54.25
54.15
54.67

55.61
56.12
55.71
54.07
54.94
55.12
54.03
54.30
54.22
54.50

55.96
55.92
55.26
54.31
54.82
54.71
54.11
54.10
54.21
54.45

55.11
56.05
55.68
54.18
54.82
54.95
54.18
54.24
54.14
54.47

1965
1966
1967
1968
1969
1970
1971
1972
1973
1974

54.53
55.42
55.69
55.51
56.14
56.64
55.63
55.71
56.14
57.32

54.57
55.30
55.57
55.83
56.47
56.50
55.43
55.72
56.57
57.36

54.74
55.27
55.37
55.88
56.41
56.53
55.26
55.96
56.84
57.32

54.82
55.46
55.64
55.95
56.45
56.50
55.45
55.95
56.82
57.12

55.07
55.37
55.53
56.27
56.28
56.15
55.47
56.02
56.79
57.17

54.98
55.52
55.78
56.25
56.54
55.97
55.11
56.06
57.06
57.11

55.28
55.52
55.88
56.10
56.52
56.09
55.40
56.06
57.04
57.16

55.13
55.66
55.94
55.98
56.65
55.92
55.48
56.21
56.89
56.99

54.99
55.67
55.92
55.99
56.57
55.74
55.49
56.09
56.98
56.91

55.23
55.70
55.99
55.96
56.62
55.78
55.55
56.05
57.22
56.78

55.19
55.96
55.97
56.07
56.61
55.66
55.73
56.21
57.35
56.45

55.38
55.80
56.15
56.20
56.68
55.53
55.76
56.39
57.31
56.05

54.61
55.33
55.54
55.74
56.34
56.56
55.44
55.80
56.52
57.33

54.96
55.45
55.65
56.16
56.42
56.21
55.34
56.01
56.89
57.13

55.13
55.62
55.91
56.02
56.58
55.92
55.46
56.12
56.97
57.02

55.27
55.82
56.04
56.08
56.64
55.66
55.68
56.22
57.29
56.43

54.99
55.55
55.79
56.00
56.50
56.08
55.48
56.04
56.92
56.98

1975
1976
1977
1978
1979
1980
1981
1982

55.62
55.67
56.27
58.00
59.14
59.23
58.38
57.46

55.29
55.77
56.45
58.00
59.28
59.20
58.43
57.41

55.17
55.88
56.66
58.07
59.27
58.96
58.58
57.29

55.09
56.08
56.87
58.39
59.01
58.60
53.80
57.17

55.17
56.23
57.07
58.53
59.03
58.36
58.72
57.40

55.01
55.99
57.10
58.78
59.17
58.19
58.31
57.17

55.24
56.24
57.08
58.54
59.27
58.12
58.44
57.06

55.36
56.23
57.21
58.66
59.06
58.06
58.36
57.06

55.30
56.11
57.29
58.72
59.31
58.15
57.94
56.92

55.28
56.10
57.42
58.90
59.21
58.21
58.02
56.65

55.25
56.24
57.78
59.03
59.23
58.29
57.88
56.57

55.29
56.27
57.91
59.00
59.36
58.27
57.51
56.50

55.36
55.77
56.46
58.02
59.23
59.13
58.46
57.39

55.09
56.10
57.01
58.57
59.07
58.38
58.61
57.25

55.30
56.19
57.19
58.64
59.21
58.11
58.25
57.01

55.27
56.20
57.70
58.98
59.27
58.26
57.80
56.57

55.26
56.07
57.09
58.55
59.20
58.47
58.28
57.06

8.7
8.3

8.8
9.3

8.6

8.5

8.6

11.8
10.5

12.8

11.2
12.3

11.4
11.2

10.0
12.1

91. Average duration of unemployment in weeks
[Weeks]
1947
1948
1949
1950
1951
1952
1953
1954

11.3
10.6

11.8
10.8

12.4
10.1

12.6
10.6

9.3
9.3
8.7

8.8
8.4
9.5

8.4
8.5

9.0
7.8

10.6

1955
1956
1957
1958
1959
1960
1961
1962
1963
1964

13.4
11.7
10.4
10.5
16.3
13.5
13.7
15.3
13.8
13.5

14.2
12.5
10.7
11.0
15.5
13.1
13.6
16.0
14.1
13.2

13.4
11.6
10.8
11.2
15.3
13.0
14.1
15.0
14.5
13.5

1965
1966
1967
1968
1969
1970
1971
1972
1973
1974

12.2
11.9

12.6
11.2

9.3
9.4
8.1
7.9

9.2
8.7
7.9
8.0

10.5
12.1
11.0

10.4
12.4
10.5

9.5

9.6

9.7

9.8

1975
1976
1977
1978
1979
1980
1981
1982

10.7
16.6
15.2
12.9
11.1
10.4
14.3
13.4

11.7
16.3
14.7
12.5
11.2
10.6
14.0
14.0

11.8
16.5
14.5
12.4
11.7
11.0
13.9
13.9

12.9
15.9
14.4
12.3
11.0
11.3
13.7
14.3

8.9
8.2

94



8.4
8.3

Average for period

8.8

8.6

8.8

8.5

9.5

7.8

8.1

12.7

10.0
13.1

10.8
12.5

11.0
12.2

11.7
12.2

10.9
12.3

11.6
10.7

11.8
10.7

9.9
7.8
7.9

8.7
7.3
8.2

9.2
7.5
7.9

9.1
7.6
8.0

9.1
8.1
7.1

8.9
9.1
7.2

9.7
9.5
7.9

9.3
8.8
8.0

10.9

11.6

12.3

12.5

12.8

12.9

13.3

13.2

14.3
11.0
10.6
12.1
14.9
12.6
15.5
14.9
14.5
12.4

14.4
10.4
10.4
13.1
14.7
11.9
15.6
15.5
14.5
13.6

13.4
10.1
10.2
14.4
14.9
11.9
16.2
15.1
14.0
13.6

13.8
10.5
10.1
14.6
14.3
12.6
17.3
14.6
14.0
14.7

12.3
12.0
10.5
15.7
13.7
12.2
17.0
14.5
13.9
13.0

11.7
11.8
16.5
13.7
12.9
16.1
14.1
14.2
12.7

11.5
11.6
11.1
16.5
12.9
13.5
15.9
14.1
13.9
12.6

11.3
10.9
10.4
16.4
13.1
13.9
17.0
13.3
13.3
14.0

12.0
11.1

11.4
10.8

11.1
10.2

11.6

11.6

11.9

8.7
8.2
7.9
8.6

9.7
8.3
8.4
7.8
8.9

9.8
8.9
8.3
7.9
8.8

12.1
10.3

8.8
8.7
7.9
8.2

9.7
8.3
7.9
7.7
8.6

11.9
10.1

8.9
8.5
7.9
8.3

8.4
8.2
8.0
8.9

8.7
8.4
7.6
8.7

10.6
12.3
10.6

10.9
12.4
10.0

11.2
12.3
10.1

11.6
12.4

11.5
11.8

11.5
11.8

11.9
12.1

9.6
9.9

9.8
9.8

9.4
9.6

12.6
11.7
10.2

9.6

9.6
9.7

13.4
15.0
14.9
12.1
11.1
10.8
13.5
14.9

15.3
16.9
14.4
12.1
10.5
11.6
14.1
16.3

15.0
15.7
14.3
12.0
10.3
11.9
14.0
15.6

15.6
15.6
13.9
11.4
10.6
12.4
14.3
16.1

16.1
15.2
14.0
11.4
10.5
12.9
13.6
16.6

8.7
8.3

8.5
8.8

9.1
9.1

9.8

9.7
8.0
8.0

9.1
7.7
7.7

9.3
9.1
7.7

9.7
8.4
8.0

13.4

8.8
8.7
9.6

11.6

12.7

13.3

11.8

12.0
11.4
10.4
15.7
13.1
12.4
15.8
13.6
13.3
12.7

13.7
11.9
10.6
10.9
15.7
13.2
13.8
15.4
14.1
13.4

14.0
10.5
10.4
13.2
14.8
12.1
15.8
15.2
14.3
13.2

12.6
11.4
10.1
15.6
13.9
12.6
16.8
14.4
14.0
13.5

11.6
11.3
10.6
16.2
13.0
13.3
16.2
13.7
13.5
13.1

13.0
11.3
10.5
13.9
14.4
12.8
15.6
14.7
14.0
13.3

11.7

11.4

11.4
10.2

11.7

9.5
8.6
8.2
8.0
9.8

12.3
11.4

11.8

9.7
8.9
8.1
8.0
9.3

8.6
8.3
7.8
8.5

9.9
8.5
8.3
7.9
8.9

9.8
8.7
8.2
7.9
9.3

11.8
10.4

9.1
8.9
8.0
8.1

12.0
11.4

11.5
11.4

!

11.6
11.9

12.0
11.5

9.5

1

10.5
12.3
10.7

11.2
12.4

9.9

9.9
9.6

10.1

9.6

9.9
9.7

9.6
9.8

9.9
9.9

15.4
15.2
13.7
11.7
10.4
13.1
13.5
17.1

16.6
15.3
13.6
11.1
10.6
13.6
13.2
17.3

16.5
15.1
13.6
10.6
10.7
13.7
12.9
18.0

11.4
16.5
14.8
12.6
11.3
10.7
14.1
13.8

13.9
15.9
14.6
12.2
10.9
11.2
13.8
15.2

15.6
15.5
14.1
11.6
10.5
12.4
14.0
16.1

16.2
15.2
13.6
11.1
10.6
13.5
13.2
17.5

8.7
8.4
7.8
8.6
11.3
12.0
10.0

9.8
14.2
15.8
14.3
11.9
10.8
11.9
13.7
15.6

Year

Jan.

Feb.

Mar.

1947
1948
1949
1950
1951
1952
1953
1954
1955
1956
1957
1958
1959
1960
1961
1962
1963
1964
1965
1966
1967
1968
1969
1970
1971
1972
1973
1974
1975
1976
1977
1978
1979
1980
1981
1982

744
938
669
900
613
723
-640
836
369
-255
116
122
-59
-375
696
555
375
175
106
-44
-16
144
-480
-799
-91
153
-823
-808
-454
130
433
-176
-692
-999
-1,028
-1,101

602
560
600
614
298
330
-672
339
270
-267
-126
324
-48
-365
517
434
301
89
36
-107
-4
38
-596
-819
-127
91
-1,388
-997
85
-62
-114
-272
-764
-1,465
-1,023
-1,414

552
546
655
471
578
-614
503
122
-409
-316
495
-140
-219
486
382
269
99
-75
-246
236
-315
-701
-781
-120
134
-1,563
-1,176
160
378
155
-38
-742
-2,638
-719
-1,254

1947
1948
1949
1950
1951
1952
1953
1954
1955
1956
1957
1958
1959
1960
1961
1962
1963
1964
1965
1966
1967
1968
1969
1970
1971
1972
1973
1974
1975
1976
1977
1978
1979
1980
1981
1982

lOfT
143
169
35
212
210
1,347
100
313
807
406
451
556
905
49
70
99
256
299
402
389
237
697
965
370
20
1,164
1,044
390
79
61
481
994
1,241
1,386
1,526

203
244
110
123
330
365
1,310
293

173
270
148
128
242
307
1,202
189

354
799
640
242
508
816
137
68
172
304

463
993
834
138
601
635
70
91
155
259

405
478
362
361
824
1,092
328
33
1,593
1,186

416
551
199
671
918
896
319
99
1,858
1,352

147
76
79
405
973
1,655
1,301
1,713

106
58
110
344
999

Monthly
July
June

Apr.

May

707
700
608
593
672
283
-631
626
95
-533
-504
492
-259
-194
551
441
313
167
-105
-268
175
-413
-844
-704
-8
27
-1,564
-1,556
10
45
-62
-475
-899
-2,261
-1,136
-1,307

93. Free reserves ®
[Millions of dollars]
677
650
599
722
752
601
910
658
624
623
700
152
562
664
65
-468
130
-353
366
365
561
770
711
92
212
168
-139
-504
-195
-383
-444
-508
547
547
484
-556
-319
-513
120
-33
37
530
453
549
440
440
391
161
247
138
135
82
120
-174
-182
-180
-352
-362
-352
297
272
269
-341
-326
-226
-1,064
-1,102
-1,074
-795
-701
-1,217
-18
-322
-658
-15
110
-55
-1,668
-1,730
-1,708
-2,386
-2,869
-3,131
277
-61
-293
-3
-53
261
12
72
-149
-975
-974
-1,146
-1,175
-1,490
-989
-835
-169
-111
-1,700
-1,335
-1,968
-745
-378

Quarterly
Aug.

Sept.

Oct.

Nov.

Dec.

I5_

IIQ

673
750
861
483
412
-383
-7
725
-189
-339
-471
382
-536
247
537
439
133
83
-134
-390
298
-190
-946
-682
-606
-183
-1,897
-3,173
6
193
-872
-885
-904
-357
-1,122
-199

798
756
847
669
383
95
250
708
-286
-214
-466
95
-493
414
547
375
91
89
-144
-368
268
-132
-831
-335
-295
-352
-1,624
-3,096
-197
212
-443
-993
-1,339
-1,055
-1,035
-592

783
706
816
775
821
-400
390
638
-359
-195
-344
96
-459
480
442
419
94
106
-146
-431
160
-167
-992
-208
-153
-327
-1,267
-1,702
-35
123
-980
-1,049
-1,750
-1,018
-871
-51

576
655
677
586
389
-875
198
650
-492
-154
-293
20
-433
614
517
473
33
-34
-83
-222
270
-245
-988
-305
-144
-292
-1,195
-1,027
229
280
-705
-417
-1,751
-1,201
-348
-177

762
663
685
885
169
-870
252
457
-245
-36
-133
-41
-424
669
419
268
209
168
-2
-165
107
-310
-829
-49
58
-830
-1,036
-364
135
110
-384
-749
-1,079
-1,587
-330
-197

681
683
605
723
461
544
-642
559
254
-310
-109
314
-82
-320
566
457
315
121
22
-132
72
-44
-592
-800
-113
126
-1,258
-994
-70
149
158
-162
-733
-1,701
-923
-1,256

678
684
622
639
496
159
-206
633
158
-411
-485
508
-364
-63
518
424
233
123
-156
-324
247
-360
-1,003
-733
-116
41
-1,654
-2,270
75
101
-46
-808
-1,188
-1,088
-1,601
-982

133
128
75
96
338
683
468
67
849
792
988
476
903
225
37
80
321
331
528
766
90
515
1,067
607
501
514
1,861
3,287
396
75
634
1,068
1,344
1,311
1,451
976

171
111
46
67
95
1,048
362
82
884
715
811
425
905
149
65
65
313
309
490
733
126
427
1,135
462
360
574
1,465
1,793
191
66
1,319
1,261
2,022
1,335
1,149
455

274
118
134
145
340
1,532
486
164
1,016
744
804
486
878
142
105
119
376
430
452
611
133
569
1,241
425
407
606
1,399
1,285
61
84
840
722
1,906
2,156
695
579

224
134
118
142
657
1,593
441
246
839
688
710
557
906
87
149
304
327
243
454
557
238
765
1,086
321
107
1,049
1,298
703
127
62
558
874
1,473
1,617
642
697

161
219
142
95
261
294
1,286
194
377
866
627
277
555
785
85
76
142
273
373
477
317
423
813
984
339
51
1,538
1,194
214
71
83
410
989
1,907
1,227
1,617

123
118
125
83
256
503
844
147
421
933
975
130
788
510
72
77
189
246
501
674
119
707
1,268
895
310
107
1,765
2,431
147
95
178
959
1,357
1,284
1,866
1,297

bank borrowings from the Federal Reserve®
—
of dofars]

2,824
994
1,611

126
111
98
101
161
367
1,166
139
495
1,060
1,011
130
676
602
56
69
121
213
471
626
134
683
996
822
148
109
1,721
1,714
110
44
73
539
897
2,455
1,338
1,581

107
144
176
80
438
563
944
155
368
971
909
119
767
502
96
63
209
255
505
722
101
746
1,402
976
330
119
1,786
2,580
60
121
200
1,227
1,777
1,018
2,220
1,105

135
100
100
68
170
579
423
146
401
769
1,005
142
921
425
63
100
236
270
528
674
123
692
1,407
888
453
94
1,788
3,000
271
120
262
1,111
1,396
380
2,039
1,205

92
95
109
123
194
1,077
418
65
527
738
917
109
956

322
265
524
766
87
525
1,190
1,358
820
202
2,050
3,308
261
123
336
1,286
1,179
395
1,679
669

127
87
94
164
292
1,032
651
115
765
898
1,005
252
1,008
293
67
127
330
334
564
728
89
565
1,249
827
804
438
2,144
3,351
211
104
1,071
1,147
1,097
659
1,417
510

W
3.56
4.51
5.65
6.31
6.11
7.28
8.29
8.32
9.33
9.57
9.87
9.41
10.28
10.97
10.57
11.11
11.95
12.54
12.97
12.80
12.46
12.57
12.76
12.70
12.84
13.34
13.77
13.46
12.77
13.30
14.11
14.77
14.93
13.37
13.03

See footnotes at end of this part.




IV Q

Average for period
707
720
675
743
726
873
749
592
460
452
-715
-252
280
203
582
734
-128
-365
-231
-128
-440
-257
341
25
-528
-439
260
588
538
459
418
387
128
112
102
80
-77
-151
-273
-373
179
279
-241
-183
-936
-950
-187
-745
-80
-520
-483
-197
-1,166
-1,743
-3,133
-1,031
-161
110
117
171
-434
-690
-1,008
-738
-1,077
-1,527
-1,269
-508
-516
-1,164
-142
-390

Annual

697
696
706
676
467
-66
-91
627
-20
-270
-323
297
-353
116
520
421
197
107
-90
-276
194
-207
-871
-616
-207
-128
-1,455
-1,857
-11
134
-253
-679
-1,131
-1,141
-1,051
-692

Average for period

95. Ratio, consumer instalment credit outstanding to personal income
[Percent]

1947
1948
1949
1950
1951
1952
1953
1954
1955
1956
1957
1958
1959
1960
1961
1962
1963
1964
1965
1966
1967
1968
1969
1970
1971
1972
1973
1974
1975
1976
1977
1978
1979
1980
1981
1982

HI Q

117
103
93
128
275
931
512
82

223
121
99
118
364
1,391
430
164

156
140
115
106
289
780
768
147

714
809
970
279
956
302
52
99
324
310

913
716
775
489
896
126
106
163
339
327

606
831
837
294
799
431
79
104
248
289

539
753
89
535
1,169
931
708
385
2,018
3,315

465
634
166
587
1,154
403
291
743
1,387
1,260

470
634
173
563
1,101
803
412
321
1,677
2,050

289
101
680
1,167
1,207
788
1,516
718

126
71
906
1,800
1,703
829
577

194
84
462
872
1,338
1,420
1,359
1,052

952

End of period

2.54
3.66
4.60
5.72
6.29
6.06
7.38
8.26

2.66
3.78
4.65
5.70
6.23
6.09
7.52
8.27

2.82
3.89
4.76
5.93
6.12
6.16
7.64
8.30

2.93
3.97
4.90
6.06
6.07
6.30
7.74
8.27

2.99
3.97
5.07
6.22
6.02
6.50
7.80
8.28

3.09
4.06
5.20
6.34
5.97
6.67
7.93
8.29

3.17
4.11
5.27
6.37
5.95
6.60
8.04
8.26

3.02
4.21
5.31
6.48
5.98
6.67
8.12
8.24

3.26
4.22
5.56
6.45
5.95
6.85
8.14
8.23

3.39
4.29
5.65
6.38
5.99
7.01
8.26
8.20

3.49
4.39
5.74
6.25
6.03
7.15
8.29
8.26

2.66
3.78
4.65
5.70
6.23
6.09
7.52
8.27

2.99
3.97
5.07
6.22
6.02
6.50
7.80
8.28

3.02
4.21
5.31
6.48
5.98
6.67
8.12
8.24

3.49
4.39
5.74
6.25
6.03
7.15
8.29
8.26

3.49
4.39
5.74
6.25
6.03
7.15
8.29
8.26

8.40
9.37
9.55
9.86
9.45
10.38
10.93
10.59
11.30
11.94

8.52
9.45
9.56
9.76
9.48
10.51
10.85
10.54
11.33
12.11

8.61
9.44
9.59
9.75
9.51
10.55
10.79
10.59
11.42
12.13

8.71
9.50
9.62
9.69
9.57
10.59
10.70
10.67
11.47
12.20

8.86
9.49
9.60
9.60
9.64
10.68
10.60
10.74
11.50
12.26

8.86
9.55
9.63
9.43
9.77
10.73
10.57
10.80
11.61
12.32

9.02
9.49
9.64
9.42
10.01
10.78
10.59
10.87
11.68
12.34

9.13
9.47
9.73
9.39
10.14
10.83
10.61
10.90
11.73
12.42

9.17
9.44
9.78
9.36
10.27
10.83
10.56
10.97
11.80
12.52

9.21
9.52
9.81
9.28
10.27
10.90
10.52
11.04
11.88
12.51

9.26
9.52
9.87
9.32
10.20
11.00
10.53
11.10
11.88
12.50

8.52
9.45
9.56
9.76
9.48
10.51
10.85
10.54
11.33
12.11

8.86
9.49
9.60
9.60
9.64
10.68
10.60
10.74
11.50
12.26

9.13
9.47
9.73
9.39
10.14
10.83
10.61
10.90
11.73
12.42

9.26
9.52
9.87
9.32
10.20
11.00
10.53
11.10
11.88
12.50

9.26
9.52
9.87
9.32
10.20
11.00
10.53
11.10
11.88
12.50

12.70
12.97
12.85
12.34
12.67
12.75
12.73
12.67
13.35
13.80

12.72
12.96
12.77
12.42
12.62
12.67
12.69
12.83
13.39
13.74

12.80
12.96
12.74
12.43
12.64
12.36
12.70
12.90
13.45
13.70

12.83
12.97
12.70
12.40
12.69
12.45
12.70
12.96
13.55
13.64

12.85
12.92
12.66
12.40
12.71
12.52
12.49
13.25
13.60
13.61

12.91
12.93
12.60
12.40
12.69
12.55
12.74
13.12
13.66
13.56

12.98
12.89
12.58
12.39
12.67
12.54
12.77
13.13
13.68
13.61

12.75
12.84
12.60
12.39
12.70
12.53
12.85
13.19
13.67
13.59

12.91
12.82
12.59
12.43
12.72
12.57
12.91
13.06
13.69
13.49

12.91
12.81
12.56
12.46
12.77
12.52
12.96
13.02
13.69
13.48

12.91
12.85
12.52
12.51
12.71
12.50
12.94
13.07
13.70
13.41

12.72
12.96
12.77
12.42
12.62
12.67
12.69
12.83
13.39
13.74

12.85
12.92
12.66
12.40
12.71
12.52
12.49
13.25
13.60
13.61

12.75
12.84
12.60
12.39
12.70
12.53
12.85
13.19
13.67
13.59

12.91
12.85
12.52
12.51
12.71
12.50
12.94
13.07
13.70
13.41

12.91
12.85
12.52
12.51
12.71
12.50
12.94
13.07
13.70
13.41

13.49
12.56
13.34
14.19
14.89
14.77
13.38
12.99

13.32
12.81
13.39
14.22
14.85
14.87
13.33
12.97

13.21
12.86
13.51
14.22
14.97
14.77
13.34
12.97

13.05
12.88
13.61
14.37
15.03
14.56
13.34
12.93

12.76
12.96
13.68
14.48
15.02
14.32
13.23
12.98

12.91
12.96
13.67
14.46
14.92
14.06
13.05
12.91

12.82
12.99
13.75
14.52
14.93
13.99
12.96
12.93

12.79
13.05
13.80
14.56
15.00
13.83
12.97
12.90

12.77
13.12
13.82
14.53
15.00
13.69
13.00
12.82

12.78
13.06
13.90
14.59
15.02
13.59
12.96
12.79

12.82
13.13
13.95
14.61
14.97
13.45
12.96
12.83

13.32
12.81
13.39
14.22
14.85
14.87
13.33
12.97

12.76
12.96
13.68
14.48
15.02
14.32
13.23
12.98

12.79
13.05
13.80
14.56
15.00
13.83
12.97
12.90

12.82
13.13
13.95
14.61
14.97
13.45
12.96
12.83

12.82
13.13
13.95
14.61
14.97
13.45
12.96
12.83

95-

Year

Quarterly
Jan.

Feb.

Mar.

Apr.

May

June

July

Aug.

96. Manufacturers' untied orders,durable goods industries
[More of dolars]
30.72
30.32
29.56
29.06
28.22
27.49
28.58
28.80
20.18
21.42
19.30
18.89
22.63
24.96
21.86
28.87
56.80
59.04
54.20
60.01
71.06
72.87
68.34
73.52
72.89
70.71
68.46
73.42
46.71
45.52
44.52
48.38

1947
1948
1949
1950
1951
1952
1953
1954

31.83
28.25
25.63
20.20
40.84
63.99
74.41
56.18

31.66
27.96
24.78
20.56
44.56
63.98
74.83
54.49

31.49
27.81
23.82
20.97
48.47
65.95
74.03
52.00

31.07
27.82
22.52
21.43
51.77
68.13
73.51
50.17

1955
1956
1957
1958
1959
1960
1961
1962
1963
1964

46.03
57.55
63.63
45.91
44.72
47.34
41.76
44.38
46.44
52.03

46.65
57.78
63.61
44.79
46.17
46.48
41.93
45.01
47.48
52.74

47.84
58.19
62.74
44.28
47.06
45.23
41.63
44.53
48.84
53.52

48.20
59.41
61.88
43.44
47.58
44.16
41.81
43.75
49.45
54.37

48.54
59.96
61.24
43.10
47.18
43.55
41.96
43.36
50.29
55.50

49.10
60.22
59.99
43.32
47.42
43.29
42.05
43.20
50.15
56.71

49.91
61.70
58.26
43.46
47.39
42.86
42.46
43.23
50.16
58.30

1965
1966
1967
1968
1969
1970
1971
1972
1973
1974

64.15
77.72
94.10
100.58
106.13
110.43
102.74
102.49
117.42
158.00

65.32
79.56
94.37
100.83
106.79
109.36
103.62
103.16
120.52
161.91

66.17
81.99
93.94
102.43
107.54
108.46
103.60
103.59
124.79
165.10

67.06
83.74
94.10
102.75
109.86
107.19
103.05
103.94
128.45
168.22

67.94
85.25
95.16
102.40
110.93
106.30
101.78
104.98
132.11
173.33

68.86
87.40
96.74
102.26
110.91
105.48
100.40
105.98
135.17
177.22

1975
1976
1977
1978
1979
1980
1981
1982

182.92
164.50
175.84
199.65
257.66
298.21
316.32
313.57

180.19
164.36
176.42
202.77
265.15
301.22
317.25
312.40

1947
1948
1949
1950
1951
1952
1953
1954

1.12
-.56
1.30
2.80
-1.15
-.61
-.41

2.87
-1.10
-1.58
1.87
.35
-.97
.51
-.10

172.41
176.88
174.20
170.18
166.96
165.36
166.30
167.66
179.73
176.80
178.42
182.08
216.43
207.29
211.18
220.98
279.66
271.86
277.04
284.35
300.04
302.36
302.60
300.01
321.23
316.95
318.87
322.09
307.45
311.85
310.78
304.41
98. Change h producer prices for 28 sensitive c
[Percent]
-0.12
3.30
0
1.23
1.20
.56
.43
1.89
-1.40
-1.06
-.92
-.80
2.90
2.82
1.36
1.38
-.70
-.97
-.70
.26
-.69
-.20
-.29
-.20
.10
-.20
0
.40
.10
.21
-.62
-.10

1955
1956
1957
1958
1959
1960
1961
1962
1963
1964

30
-.10
-.80
94
30
19
-.73
72
0
0

.70
.57
-1.10
-.31
1.38
-1.05
-.42
-.31
.11
0

-.60
.48
-.41
-.73
1.36
-1.54
1.26
-.92
-.10
.72

.50
-.19
-.61
-.21
.67
-.49
1.56
-.83
-.11
.91

.70
-.57
-.61
-.10
.29
-.39
-.20
-.31
.63
-.10

1965
1966
1967
1968
1969
1970
1971
1972
1973
1974

-.59
78
-1.00
-.48
2.11
-.76
81
1.81
1.51
-.99

-.59
.68
-1.32
.10
1.82
-1.69
1.51
.46
4.06
-.35

-.30
1.44
-.72
1.06
2.27
-1.46
1.75
.15
3.77
2.60

0
.47
-.41
.19
-1.98
0
.95
.38
3.82
3.22

1975
1976
1977
1978
1979
1980
1981
1982

-3.22
3.14
-.59
2.58
96
1.48
-1.81
87

.06
1.16
.09
1.40
1.20
2.16
-2.50
-1.40

-1.48
2.23
2.57
.69
4.10
-.62
.64
-.22

1.15
1.93
-.31
1.13
.30
-6.32
.94
-.76

Sept.

Oct.

Nov.

28.58
26.62
19.62
35.44
63.39
72.68
58.64
45.25

51.74
63.72
55.15
43.20
48.66
43.62
43.04
43.36
50.86
60.06

56.24
63.88
50.35
43.99
48.88
42.10
43.98
45.51
50.96
63.15

56.24
63.88
50.35
43.99
48.88
42.10
43.98
45.51
50.96
63.15

68.86
87.40
96.74
102.26
110.91
105.48
100.40
105.98
135.17
177.22

71.81
92.64
98.04
103.00
111.40
102.42
100.55
109.73
143.21
190.03

75.90
94.16
100.58
105.95
111.25
101.57
102.12
114i«r
153.88
185.56

75.90
94.16
100.58
105.95
111.25
101.57
102.12
114.72
153.88
185.56

176.88
165.36
176.80
207.29
271.86
302.36
316.95
311.85

170.18
167.66
182.08
220.98
284.35
300.01
322.09
304.41

168.52
169.94
186.78
234.07
288.46
307.96
321.94
292.76

165.93
174.21
197.22
252.38
294.23
315.18
313.34
291.76

165.93
174.21
197.22
252.38
294.23
315.18
313.34
291.76

1.47
-1.11
.96
.82
-.66
-.40
-.21
.10

0.19
-.98
1.52
1.14
-.77
.10
-.20

0.37
1.17
-1.13
2.36
-.79
-.39
-.03
-.10

Average for period
0.84
1.93
-.40
-1.03
-.48
.76
4.70
.64
-2.31
.07
-.13
-.57
-.30
-.51
.83
.37

-0.01
-.45
2.30
-.47
-.47
-.19
.22

.29
-.10
-.42
0
-.38
-.73
-1.02
-.31
.31
.39

.67
.10
.31
-.59
0
.21
.52
.21
0
.20

.13
.32
-.77
-.03
1.01
-.80
.04
-.17
0
.24

.60
-.48
-.44
.18
.64
-.82
.66
-.59
.21
.37

.81
-.87
-.41
1.34
-.28
-.87
.07
.07
.43
.30

.19
-.26
0
.34
-.10
-.48
-.27
-.07
.24
.50

.43
-.32
-.41
.45
.32
-.74
.12
-.19
.22
.35

.29
-.10
-.39
2.07
0
.17
-.16
2.39
2.82
-4.05

.59
-.69
.88
1.41
1.44
-1.92
.48
1.62
3.64
-1.97

0
-1.19
1.07
2.95
-.50
-.98
1.27
1.18
3.05
-5.33

-.49
.97
-1.01
.23
2.07
-1.30
1.36
.81
3.11
.42

.20
.25
.93
.70
-1.86
.38
.77
1.01
2.51
-.57

.33
-1.57
1.10
1.23
-.31
-.35
1.82
.94
2.43
-1.01

.29
-.66
.52
2.14
.31
-.91
.53
1.73
3.17
-3.78

.08
-.25
.38
1.07
.05
-.55
1.12
1.12
2.81
-1.24

3.39
1.56
2.04
.78
.40
.81
-2.37
-.26

-.33
-.05
-1.24
2.00
1.36
.87
-1.08
-.23

.67
1.21
-.78
2.87
-1.01
1.98
-2.18
-.57

2.27
1.15
2.69
-.42
-2.27
.26
-.72
.34

-1.55
2.18
.69
1.56
2.09
1.01
-1.22
-.25

1.02
1.06
-.94
2.07
.95
-2.69
.45
-.12

1.72
1.84
2.57
.82
-.65
2.27
-1.63
-1.02

.87
.77
.22
1.48
-.64
1.04
-1.33
-.15

.52
1.46
.64
1.48
.44
.40
-.93
-.38

-0.79
.56
5.74
-.71
-.10
-.82
.82

-1.09
-.79
1.21
1.17
-1.17
-1.44
.81

0.30
1.13
2.56
-.53
-.30
.52
.30

-1.00
.22
1.33
-.36
-.49
-.10
0

-2.05
.81
.93
-1.55
-.16
-.14

0.80
-2.11
2.13
-1.15
-.88
-.60
.45

-0.60
.19
1.70
.09
-.65
-.34
.37

-0.84
2.62
-.73
-.83
-.39
.28

1.24
.10
0
-.69
-.29
-.31
.92
-.10
.10
-.10

.31
-.10
-1.01
-.21
.60
-.65
.62
-.13
-.14
.24

.46
-.82
-.33
.04
.55
-.39
.14
-.82
.07
.44

.44
.07
-.58
.61
-.10
-.68
-.33
.14
.48
.61

.56
-.21
-.64
.39
.27
-.58
.16
-.23
.16
.53

.29
-.27
.21
-.10
-.55
-.12
.24
1.07
2.22
-.70

.13
-1.64
.37
.71
.32
-.57
1.07
.56
2.15
-1.09

.14
-.38
.07
.57
.40
-.51
.60
1.16
2.55
-.96

.04
1.15
-1.24
1.19
.67
-3.05

1.51
1.02
1.17
1.15
-.23
2.26

.35
-.62
.53
1.57
.14
-.85
.23
1.66
2.80
-3.49
.27
.27
.51
1.30
.06
.54
-1.36
-.56

28.56
28.09
18.93
33.03
62.13
73.80
62.43
46.13

28.52
27.48
19.36
34.14
62.94
73.16
60.58
45.31

28.58
26.62
19.62
35.44
63.39
72.68
58.64
45.25

31.49
27.81
23.82
20.97
48.47
65.95
74.03
52.00

30.32
28.22
20.18
22.63
56.80
71.06
72.89
46.71

50.56
63.60
56.56
43.45
47.50
43.31
42.90
42.81
50.26
58.90

51.74
63.72
55.15
43.20
48.66
43.62
43.04
43.36
50.86
60.06

53.21
63.56
53.24
43.30
49.48
42.79
43.08
43.83
50.92
61.24

54.37
63.81
51.79
44.08
49.45
42.40
43.41
43.96
51.12
62.13

56.24
63.88
50.35
43.99
48.88
42.10
43.98
45.51
50.96
63.15

47.84
58.19
62.74
44.28
47.06
45.23
41.63
44.53
48.84
53.52

49.10
60.22
59.99
43.32
47.42
43.29
42.05
43.20
50.15
56.71

69.65
89.17
97.36
101.08
110.87
104.48
99.64
106.61
137.21
181.55

70.40
90.26
97.72
101.82
110.62
103.09
99.60
107.34
140.08
187.17

71.81
92.64
98.04
103.00
111.40
102.42
100.55
109.73
143.21
190.03

73.13
93.37
99.04
104.50
111.29
101.10
100.87
110.94
146.76
189.00

74.46
93.84
99.50
104.95
111.31
100.91
101.59
112.44
150.94
188.16

75.90
94.16
100.58
105.95
111.25
101.57
102.12
114.72
153.88
185.56

66.17
81.99
93.94
102.43
107.54
108.46
103.60
103.59
124.79
165.10

170.21
169.38
183.04
224.37
285.27
303.36
322.93
301.12

169.41
168.94
184.77
229.05
285.95
305.15
322.61
296.83

168.52
169.94
186.78
234.07
288.46
307.96
321.94
292.76

166.98
171.52
190.26
241.70
289.74
310.49
318.61
291.02

166.86
172.52
192.84
248.38
291.98
311.92
316.77

165.93
174.21
197.22
252.38
294.23
315.18
313.34
291.76

1.21
0
-.95
4.54
-2.68
-.50
-.10
1.98

0.60
-.54
-.72
5.05
-3.58
.40
-.40
-.10

0.72
-.65
.24
4.51
-.67
-.30
-.41
.61

2.25
-.98
.85
.18
.96
-.70
-.92
.71

2.08
-.99
.48
.92
-.09
-.60
-.41
.30

.59
-.67
-.10
.84
.95
-1.57
.62
-.63
.10
.30

.49
-.58
-.10
.62
-.47
-.60
-.31
0
1.98
.50

1.08
-1.45
-.31
2.07
-.38
-1.71
.10
.42
.82

.87
-.59
-.83
1.32
0
-.31
.41
-.21
-1.52
-.40

-.38
-.79
.10
1.60
.09
-.92
-.31
-.10
.41
.90

.70
.47
1.14
.38
-1.46
.96
.09
.92
2.96
-4.63

-.10
-.19
2.05
1.52
-2.14
.17
1.28
1.74
.76
-.30

.30
-.19
1.01
1.68
-1.60
-.86
2.86
1.49
-.70
.74

-3.85
.80
.83
.43
-.09
2.37
1.25
3.57
-1.97

-.49
-.68
1.48
1.18
.25
-.09
.24
.07
4.41
-1.81

3.87
.05
-.76
2.12
.33
-2.59
.10
.11

-1.95
1.20
-1.76
2.97
2.22
.83
.30
.29

-.47
4.58
2.07
.46
-1.56
3.31
-1.19
-.33

2.23
-.61
3.60
1.21
-.79
2.69
-1.34
-2.46

-1.01
1.12
3.11
-1.26
-.99
-.52

1955
1956
1957
1958
1959
1960
1961
1962
1963
1964

91
-.38
-1.16
10
-.10
38
-.31
91
-.10
20

.80
-.19
-1.56
-.10
.70
-.96
.41

1965
1966
1967
1968
1969
1970
1971
1972
1973
1974
1975
1976
1977
1978
1979
1980
1981
1982

Average for period

-1.03
-1.40
.73

0.40
-1.11
2.80
-.72
-.76
-.10
.31

0.59
-1.57
2.62
-1.94
-.86
-.30
.31

-0.10
0
5.42
-4.87
-.68
-.20
.72

0
1.26
6.40
-2.86
.10
-.41
-.20

-.80
0
0

-.79
.28
-.30
-.63
1.19
-1.36
1.75
-.51
-.31
.51

.70
.09
-.60
-.84
.68
.20
1.11
-1.12
0
1.52

0
-1.41
-.50
.11
.29
-.20
0
-.31
.52
-.50

.69
-1.15
.10
.84
.68
-1.18
-.70
-1.03
-.31
.30

1.28
-.10
-.30
1.15
-.29
-.70
.10
-.31
1.15
.60

.97
0
-.30
1.66
-.10
-.70
.40
.31
.41
1.39

.87
.19
-1.31
.61
.48
-.40
.20
-.31

-.48
-.58
-.92
1.82
.19
-.91
-.30
.21
.83
1.46

.57
.68
-.83
.70
-.19
-.82
-1.61
.31
.51
.48

-.77
1.22
-.20
-.39
1.92
17
28
1.99
1.81
44

-.29
.93
-1.19
0
1.79
-.78
1.20
.85
3.84
1.94

.48
.92
-1.10
.69
1.32
-.96
1.10
1.18
3.49
2.01

.87
-.18
-.91
-.39
-.35
-.09
1.08
.75
2.54
1.81

.48
-.55
.41
-.49
-.52
.27
-.36
1.65
2.41
-3.92

-.48
-.09
1.12

.81
1.70
0

0
0
.10
.59
-.62
-1.07
1.08
.72
.97
.49

.76
-3.78
.40
.58
.80
-.36
1.69
.88
3.76
-1.57

-.38
-1.15
.60
.97
.79
-.27
.44
.08
1.72
-2.20

.19
-.68
-.20
1.53
-.44
-.18
-.09
2.06
1.75
-3.55

.47
-.49
.90
1.51
.70
-1.18
.09
1.63
2.55
-2.16

.89
1.67
.17
-1.19
.70
1.30
4.11
-4.77

-.19
1.02
-.83
.10
1.68
-.52
.86
1.34
3.05
1.46

-2.25
2.13
65
2.56
1.24
1.42
-1.60
35

.19
1.07
.91
.75
2.32
1.68
-2.08
-.97

-.58
2.19
2.22
.35
3.76
-.83

1.29
2.20
-.26
.64
.74
-4.73
.83
-1.21

1.65
.28
-.94
.78
.12
-3.67
-.37
-.18

-2.81
.96
-2.52
2.14
1.14
-.74
-.45
-1.45

.75
.57
-.48
2.83
-.25
.41

2.52
-.97
1.66
1.66
-.32
2.92
-.41
-1.38

2.52
.33
1.10
1.21
.12
1.03
-1.91
.19

-.55
-.65
-.36
2.30
1.75
.69
-1.14
-.51

0
.55
-.57
2.16
-.88
1.42
-1.88
-.93

1.36
.92
2.46
-.57
-.69
-.48
-1.05
-.24

-.88
1.80
1.26
1.22
2.44
.76
-.92
-.50

96



-1.76
-2.44
.66
.40
-2.09
0

-.31

-0.90
-2.71
.66
-.71
-1.30
.50
.42

1.41
-3.64

.92
-.89

.59
-.79
-.53
0

End of period
29.05
28.53
18.59
31.06
60.81
74.37
64.97
44.82

Annual

28.58
26.62
19.62
35.44
63.39
72.68
58.64
45.25

29.05
28.53
18.59
31.06
60.81
74.37
64.97
44.82

99. Change in sensitive materials prices, monthly data
[Percent]

1947
1948
1949
1950
1951
1952
1953
1954

IV Q

JUL

Dec.

-o'M
.61
5.85
-2.81
-.23
-.48
.45
1.04
.03
-.64
1.14
.03
-.60
.23
-.10
.25
.83

.24
1.06
.42
1.21
.74
.13
-.78
-.57

Year

Q"art**y
Feb.

Jan.

Mar.

JPL

M.

June

Sept.

July

99. Change in sensitive materials prices, smoothed data1
[Percent]

1947
1948
1949
1950
1951
1952
1953
1954

-0.58
51
2.02
-.31
-.62
-.19

-1.03
.75
1.97
-.98
-.54
-.17

-1.77
.74
1.27
-1.39
-.33
-.22

-2.49
.79
.28
-1.51
-.23
.07

1955
1956
1957
1958
1959
1960
1961
1962
1963
1964

39
46
-.03
-.41
29
-.06
-.58
-.13
09
37

.49
.35
-.50
-.12
-.03
-.16
-.28
.21
-.02
.18

.44
.06
-.94
-.10
.28
-.47
.27
.11
-.10
.17

.27
-.02
-.91
-.37
.73

1965
1966
1967
1968
1969
1970
1971
1972
1973
1974

24
52
-.54
50
1.64
25
-.77
58
l.W
2.58

-.26
.77
-.58
.32
1.75
.10
-.30
1.05
1.95
2.27

-.29
.93
-.76
.13
1.74
-.34
.48
1.26
2.68
1.81

1975
1976
1977
1978
1979
1980
1981
1982

-3.28
72
49
1.00
1.12
01
16
-1.11

-2.67
1.34
.77
1.70
.97
.38

-1.58
1.66
1.04
1.57
1.72
.78
-1.15
-.53

1947
1948
1949
1950
1951
1952
1953
1954

15,733
17,807
18,953
17,960
19,901
24,083
26,787
26,249

15,961
18,066
19,158
18,001
20,348
24,191
26,924
26,437

16,193
18,084
19,025
17,972
20,899
24,371
27,006
26,402

-.29
.54
.42
-.26
-.41
1.81
1.35
1.40
1.44
1.69
1.11
-.45
-1.07
-.47
.65
.90
.89
1.18
1.31
.58
2.36
1.10
.46
.19
1.91
-.27
-3.06
.57
-2.18
-1.79
-.52
-.36
.17
-.18
.23
-.76
-.61
-.68
-.85
101. Commercial and industrial loans outstandkig in 1972 dofars
[Mwons of dolarsj
17,051
17,120
17,122
16,844
17,266
18,467
18.640
18,902
18,089
18,927
18,767
18,592
18,153
18,870
17,881
17,996
18,311
18,339
18,093
18,523
22,080
22,456
22,738
21,548
23,020
24,594
24,893
24,973
24,478
24,933
27,530
27,518
27,222
27,465
27,529
26,013
26,023
25,918
26,173
24,855

1955
1956
1957
1958
1959
1960
1961
1962.....
1963
1964

25,835
30,356
34,070
34,023
33,151
36,523
38,150
38,873
41,874
45,008

25,970
30,445
34,056
33,588
33,170
37,030
38,112
39,072
42,082
45,542

26,358
31,259
34,648
33,254
33,403
37,103
38,280
39,298
42,334
45,606

26,418
31,644
34,895
33,178
33,633
37,334
38,435
39,696
42,684
46,075

27,025
32,061
35,114
32,688
34,190
37,726
38,512
39,918
42,718
46,515

27,355
32,487
35,431
32,667
34,775
38,308
38,631
40,249
42,797
46,813

27,918
32,993
35,454
32,620
34,844
38,191
38,551
40,416
42,789
47,033

1965
1966
1967
1968
1969
1970
1971
1972
1973
1974

50,362
59,357
68,150
73,346
81,559
89,515
90,091
86,555
90,219
92,581

51,454
59,903
68,832
72,911
82,028
90,769
90,011
86,558
92,051
92,687

52,479
60,721
69,859
73,174
82,914
91,875
90,009
87,419
91,857
92,634

53,017
61,294
70,672
74,406
85,004
91,848
88,811
88,492
92,854
95,832

53,971
62,128
70,799
74,352
85,520
92,384
89,202
88,615
92,195
96,165

54,150
6S,258
71,243
74,840
86,412
92,696
87,744
88,534
92,089
96,815

1975
1976
1977
1978
1979
1980
1981
1982

97,540
83,233
78,816
80,451
84,405
89,669
88,599
100,644

97,083
83,505
78,788
79,940
84,388
89,704
87,869
102,640

96,542
81,836
78,275
81,015
84,500
90,490
86,370
103,637

94,508
79,362
77,820
81,096
86,102
90,261
87,030
105,776

1947
1948
1949
1950
1951
1952
1953.
1954

0.24
-.15
20
33
36
13
29

0.31
0
0
.54
.19
.50
.17
.29

0.46
-.39
0
.29
.33
.27
.56
.29

0.66
-.20
.15
.54
.19
.31
.26
-.04

1955
1956
1957
.1958
1959
1960
1961
1962
1963
1964

48
12
39
-.11
95
13
58
60
69
53

.60
0
.19
1.21
.42
.10
.80
.80
.74
.61

-.12
.20
.38
.82
.52
.30
.54
.85
.76
.53

.28
.27
.15
.78
.31
.23
.50
.73
.70
.48

.40
-.04
.30
.62
.76
.30
.75
.55
.75
.65

0
.23
.11
.91
.62
.47
.62
.52
.64
.69

1965
1966
1967
1968
1969
1970
1971
1972
1973
1974

66
65
29
46
42
03
97
1.01
1.03
48

.70
.54
.75
.63
.47
-.29
1.40
1.19
.55
.61

.65
.58
.93
.51
.44
.37
1.49
1.13
.20
.75

.51
.43
.51
.49
.21
.25
1.46
.69
.44
.19

.39
.19
1.04
.62
.16
.51
1.22
.65
.87
.27

.69
.23
.97
.67
.35
.55
.90
.92
.92
.50

1975
1976
1977
1978
1979
1980
1981
1982

39
1.05
1.13
74
39
50
49
.85

.90
1.38
1.03
.50
.59
.98
.85
.31

1.22

1.03
1.03
.91
.52
.74
-.53
.87
.34

1.39
1.30
.87
.69
.63
.76
.43
.84

1.62
.42
.69
.57
1.08
1.41
.71
.75

See footnotes at end of this part.




.57
.78
.47
1.20
.72

Dec.

Oct.

IQ

HQ

HIQ

IV Q

Annual

Average for period
-0.56
.24
2.44
.04
-.59
-.46
.51

-1.13
.67
1.75
-.89
-.50
-.19

-2.50
1.24
-.41
-1.24
-.34
.31

0.24
-.58
4.14
-2.57
-.60
-.35
.39

-0.53
.35
3.80
-.73
-.45
-.63
.51

-0.97
2.46
-.49
-.80
-.45
.25

.39
-.02
-.93
1.20
.18
-.69
-.24
.07
.16
.96

.83
.03
-.70
-.45
.10
.33
.71

.44
.29
-.49
-.21
.18
-.23
-.20
.06
-.01
.24

.20
-.25
-.65
-.36
.72
-.56
.80
-.64
-.02
.51

.80
-.57
-.29
.84
.20
-.68
-.03
-.45
.34
.51

.51
0
-.82
1.09
.11
-.68
-.17
.05
.23
.88

.48
-.13
-.56
.34
.30
-.54
.10
-.24
.13
.54

.16
-1.76
.32
.87
.35
-.42
.88
.78
2.28
-1.77

.14
-1.32
.35
1.18
.37
-.41
.41
1.13
2.21
-2.54

.22
-.70
.48
1.45
.25
-.70
.19
1.46
2.40
-3.07

-.10
.74
-.63
.32
1.71
0
-.20
.96
2.08
2.22

.34
.33
-.64
.01
.55
-.40
.76
1.11
2.91
.75

.10
-.82
.46
.38
-.32
-.48
.61
.89
2.01
-.80

.17
-1.26
.38
1.17
.32
-.51
.49
1.12
2.30
-2.46

.13
-.25
-.11
.47
.56
-.35
.42
1.02
2.33
-.07

.62
1.12
.57
1.30
-.06
1.96
-.61
-.53

1.50
.29
.98
1.44
.14
1.90
-1.00
-.41

1.08
-.18
.43
1.81
.42
1.30
-1.40
-.49

.46
.18
.28
1.59
.20
.79
-1.50
-.49

-2.51
1.24
.77
1.42
1.27
.39
-.60
-.78

.22
1.62
.44
.79
1.79
-1.84
-.04
-.83

-.02
1.32
-.32
1.26
.20
.25
-.38
-.61

1.01
.10
.56
1.61
.25
1.33
-1.30
-.46

-.32
1.07
.36
1.27
.88
.03
-.58
-.67

17,250
18,894
17,827
19,013
23,176
25,270
27,236
24,893

17,456
18,971
17,950
19,333
23,320
25,742
27,197
24,917

17,764
18,787
17,857
19,619
23,421
26,360
27,070
25,147

17,796
18,750
17,813
19,768
23,686
26,741
26,501
25,705

15,962
17,986
19,045
17,978
20,383
24,215
26,906
26,363

17,005
18,399
18,743
18,133
22,028
24,655
27,504
26,070

Average for period
17,213
17,672
18,908
18,836
17,954
17,873
18,625
19,573
22,978
23,476
25,059
26,281
27,329
26,923
25,222
25,256

16,963
18,532
18,404
18,577
22,216
25,052
27,165
25,728

28,329
33,150
35,456
32,547
35,477
38,206
38,642
40,711
43,100
47,571

28,489
33,324
35,651
32,758
35,474
38,340
38,738
40,729
43,497
48,004

29,079
33,420
35,265
32,866
36,011
38,243
38,739
41,353
43,945
48,183

29,633
33,741
34,711
32,973
36,245
38,384
38,815
41,654
44,713
48,757

30,055
33,844
34,514
33,152
36,492
38,316
38,891
41,866
45,482
49,532

26,054
30,687
34,258
33,622
33,241
36,885
38,181
39,081
42,097
45,385

26,933
32,064
35,147
32,844
34,199
37,789
38,526
39,954
42,733
46,468

28,245
33,156
35,520
32,642
35,265
38,246
38,644
40,619
43,129
47,536

29,589
33,668
34,830
32,997
36,249
38,314
38,815
41,624
44,713
48,824

27,705
32,394
34,939
33,026
34,739
37,809
38,541
40,320
43,168
47,053

54,552
63,909
71,605
75,442
86,725
92,271
86,825
87,989
94,487
96,249

55,763
64,859
71,508
76,795
88,027
93,307
88,185
88,183
90,951
94,811

56,830
65,514
71,827
77,580
89,249
93,195
90,298
87,803
92,462
97,884

57,520
66,685
72,374
78,474
89,909
91,540
89,418
89,784
94,132
96,817

58,255
67,357
72,946
79,528
90,053
90,952
89,160
90,235
94,848
96,836

58,630
67,679
73,432
80,049
90,680
90,875
87,836
89,255
93,840
97,134

51,432
59,994
68,947
73,144
82,167
90,720
90,037
86,844
91,376
92,634

53,713
62,227
70,905
74,533
85,645
92,309
88,586
88,547
92,379
96,271

55,715
64,761
71,647
76,606
88,000
92,924
88,436
87,992
92,633
96,315

58,135
67,240
72,917
79,350
90,214
91,122
88,805
89,758
94,273
96,929

54,749
63,555
71,104
75,908
86,507
91,769
88,966
88,285
92,665
95,537

91,988
90,121
88,619
79,286
79,336
78,377
77,938
78,990
78,765
81,918
82,697
83,062
86,598
87,762
88,393
89,045
90,526
88,282
89,107
90,614
91,936
107,062
107,856
107,735
102. Change in money supply M 2
[Percent]
0.45
0.35
0.15
-.15
0
.15
.20
-.05
-.10
.44
.29
.24
.33
.33
.51
.36
.40
.31
.30
.13
.26
.83
.29
.49

87,317
78,472
79,690
83,593
89,710
87,490
93,781
107,934

85,889
77,777
79,785
83,437
90,698
87,948
95,996
109,007

84,553
78,258
80,203
83,426
89,670
87,521
96,724
108,923

84,312
79,151
80,527
84,200
88,581
89,029
98,333
106,643

84,163
79,074
80,752
83,719
89,160
89,218
99,308
104,347

97,055
82,858
78,626
80,469
84,431
89,954
87,613
102,307

92,206
79,328
78,249
81,904
86,821
89,944
88,917
106,898

87,275
78,209
79,413
83,364
89,600
87,907
93,904
108,225

84,343
78,828
80,494
83,782
89,137
88,589
98,122
106,638

90,220
79,806
79,196
82,380
87,497
89,099
92,139
106,017

0.55
.10
-.15
.24
.42
.44
.21
.53

0.50
-.05
-.05
.05
.70
.61
.13
.16

0.10
-.05
0
.24
.46
.26
.30
.45

0.44
-.15
.05
.24
.78
.48
.17
.41

0
-.20
.15
.24
.55
.30
.21
.16

-0.05
-.05
.34
.28
.38
.29
.29

0.49
-.12
.10
.42
.28
.36
.23
.36

Average for period
0.40
0.18
.07
-.13
-.10
.07
.18
.24
.54
.60
.45
.35
.20
.23
.39
.34

-0.06
0
.30
.43
.38
.24
.35

.28
.12
.30
.40
.41
.60
.40
.46
.69
.76

0
0
.26
.65
.41
.89
.61
.57
.68
.80

.28
.43
.08
.29
.10
.52
.61
.57
.63
.82

.16
.12
.08
.36
-.07
.32
.49
.65
.60
.53

-.08
.27
.11
.53
.17
.45
.66
.73

.24
.19
0
.21
.24
.45
.63
.81
.43
.62

.32
.11
.32
.64
.63
.18
.64
.75
.73
.56

.23
.15
.19
.77
.56
.33
.62
.60
.70
.61

.19
.18
.21
.45
.31
.67
.54
.53
.67
.79

.11
.19
.06
.37
.11
.41
.59
.73
.61
.62

.21
.16
.20
.56
.40
.40
.60
.65
.68
.64

.83
.61
.74
.76
.36
1.18
.13
.47

.71
.06
.68
.72
.22
.77
.78
1.01
.36
.44

.66
.32
.58

.53
.16
.33
.78
1.15
.35
.27

.65
.36
.89
.71
.10
.85
.82
1.21
.30
.36

1.02
1.01
.81
.69

.75
.61
.69
.78
.48
1.06
.92
1.12
.78
.34

.67
.59
.66
.53
.44
.04
1.29
1.11
.59
.61

.53
.28
.84
.59
.24
.44
1.19
.75
.74
.32

.70
.30
.83
.67
.21
.69
.86
1.18
.26
.37

.71
.33
.65
.79
.46
.90
.91
1.05
.65
.49

.65
.38
.74
.64
.34
.52
1.06
1.02
.56
.45

.90
1.31
.85
.77
.92
1.32
1.23
1.21

.89
1.05
.79
.94
.78
.89
.59
.70

.51
1.24
.66
.56
.25
.63
.69
.66

1.11
1.22
.77
.66
.18
.74
.95
.79

.79
1.28
.61
.59
.43
-.02

.84
1.10
1.05
.60
.59
.65
.85
.63

1.35
.92
.82
.59
.82
.55
.67
.64

.99
1.05
.82
.76
.84
1.20

.80
1.25
.68
.60
.29
.45
.81
.73

.84
.64
.63
.71
.81
.73

-0.06
-2.71
1.12
-.56
-1.25
-.32
.38

0.55
-2.30
1.81
-.95
-.96
-.47
.47

0.55
-1.50
2.87
-1.83
-.83
-.40
.45

0.23
-.50
4.21
-2.87
-.62
-.25
.36

-0.07
.25
5.33
-3.02
-.35
-.39
.36

-0.46
.48
5.15
-1.81
-.31
-.68
.46

-0.58
.32
3.81
-.41
-.46
-.74
.56

-.47
-.12
.46

.10
-.14
-.64
-.49
.79
-.58
1.02
-.73
-.02
.59

.22
-.58
-.40
-.21
.64
-.42
.54
-.73
.07
.48

-.28
.37
.39
-.54
-.03
-.68
.26
.29

.82
-.65
-.20
.96
.16
-.78
-.13
-.45
.44
.45

1.01
-.19
-.40
1.18
.06
-.73
.08
-.22
.33
.80

.75
-.05
-.74
1.25
.11
-.64
.17
-.02
.19
.97

.08
.79
-.95
.10
1.30
-.57
.99
1.13
3.17
1.69

.48
.31
-.80
.02
.54
-.44
.87
1.06
3.05
.94

.45
-.10
-.16
-.08
-.20
-.19
.42
1.13
2.52
-.37

.14
-.24
.38
.07
-.60
-.28
.24
1.07
1.96
-.92

.05
-.75
.54
.41
-.42
-.55
.58
.93
1.92
-.75

.11
-1.47
.45
.65
.06
-.61
1.00
.68
2.15
-.73

1.19
.78
.81
.56
.83
1.39

97

Year

Jan.

Feb.

Mar.

May

Apr.

Monthly
June
July

Aug.

Sept.

Oct.

Nov.

Dec.

10

Quarterly
IIQ
IIIQ

104. Change in total iquid assets, monthly data
[Percent]
1947
1948
1949
1950
1951
1952
1953
1954
1955
1956
1957
1958
1959
1960
1961
1962
1963
1964
1965
1966
1967
1968
1969
1970
1971
1972
1973
1974
1975
1976
1977
1978
1979
1980
1981
1982

1947
1948
1949
1950
1951
1952
1953
1954
1955
1956
1957
1958
1959
1960
1961
1962
1963
1964
1965
1966
1967
1968
1969
1970
1971
1972
1973
1974
1975
1976
1977
1978
1979
1980
1981
1982

-0.13

.16
.08
.95
.46
.23
.45
.39
.47
.08
.84
.31
.57
.67
.60
.48
.59
.67
.44
.64
.40
.08
.88
.93
1.05

.82
.55
.74
.85
.99
.68
.69

0.04

-0.17

.13
.41
0
.52
.64
.27
.52
.48
.50
.42
.11
.23
.59
.69
.81
.55
.63
.54
.78
.71
.55
.01
.98

.17
.33
.20
.45
.88
.20
.03
.18
.64
.25
.45
.28
.42
.89
.68
.47
.66
.52
.87
.67
.57
.61

1.13
1.14
1.16

.72
.97
1.05

.90
.91

1.07

1.15
1.05

.85

.90

1.08
1.11
1.08
1.03

.74
.88
.95
.99
1.16

.70
.66
.92

0
.25
.57
.28
.19
.80
.03
.61
0
.29
.20
.35
.15
.51
.73
.53
.47
.58
.64
.33
.54
.38
.56
.77
.79
.76
.77
.52
.89
.85
.91
.94
.25
.46
.65

0.01

0.04

0.12

.22
.27
.72
.54
.20
.40
.43
.39
.15
.67
.06
.30
.64
.77
.59
.56
.66
.46
.69
.73
.58
.71
.86

.25
.20
.75
.53
.24
.41
.42
.44
.22
.61
.13
.41
.65
.78
.54
.56
.64
.56
.70
.62
.39
.80
.94

.29
.13
.68
.60
.25
.38
.39
.50
.26
.48
.21
.50
.70
.73
.49
.60
.60
.65
.69
.54
.24
.92

.37
.13
.51
.72
.20
.36
.28
.51
.27
.38
.25
.52
.76
.68
.50
.63
.57
.68
.66
.50
.31
.96

1.20

1.18

1.02
1.11

.74
.50
.86
.96
.99

.84
.54
.82
.97
.95
.94
.57
.96
.82

.95
.62
.82
.96
.93
.90
.79
.95
.84

1.03
1.04
1.00

.38
.89
.85

0.17

0.17

0.13

0.04

0.04

0.08

.29
.36
.32
.37
.59
.47
.89
.21
.32
.31
.79
.10
.66
.52
.73
.70
.54
.35
.67
.67
.08
.39
.67
.75

.17
.36
.51
.59
.45
.13
.57
.21
.26
.39
.71
.46
.53
.63
.54
.75
.79
.30
.74
.80
.34
.53
.88

.17
.28
.51
.55
.68
.30
.72
.03
.43
.11
.63
.48
.48
.38
.52
.50
.73
.07
.64
.84

.12
.08
.39
.58
.44
.46
.50
.30
.34
.64
.54
.45
.45
.62
.86
.52
.64
.27
.87
.89
.03
.83
.66

.08
.04
.62
.54
.14
.36
.74
.45
.14
.50
.15
.55
.45
.60
.79
.91
.72
.55
.79
.85
.52
.69
.71

.21
.28
.62
.54
.10
.49
.55
.27
.03
.52
0
.27
.57
.35
.42
.60
.66
.18
.63
.83
.28
.68
.72

.17
.24
.69
.61
.13
.42
.40
.38
.06
.79
.13
.22
.71
.96
.91
.60
.68
.46
.68
.81
.94
.62
.86

.29
.40
.69
.50
.30
.32
.43
.41
.34
.54

1.14

1.11

1.00

1.37

1.22

.98
.64
.71

.57
.44

.81
.56

.67"

1.28
1.05
1.16
1.29

.72
.43
.59

1.00
1.10
1.06

.89
.72
.95
.60
.92
.96

.95

1.12

1.25
1.36

.74
.94
.60

1.01

.78
.98
.94

.90
1.08

.68
.98
.86

1.01
1.12
1.08

1.53

.72

.75

.81
1.04
1.00

.89
.59
.82
.87
1.06

.90
.95
.81
.97

1.19
1.00
1.13
1.08
1.00
104. Change in total iquid assets, smoothed data3
[Percent]

0.02

1.01

0.08

1.03
1.14

.66
.89
.95
.95
.96
.77
.82
.86

.91

.83
.99
.71
.55
.63
.93
.90

.15
1.04
1.02

.57

-.10

.25
.58
.87
.42
.48
.64
.61
.76
.77
.62
.73
.89

1.00

.82
1.04

.37
.78
.64
.50

0.06

.30
.09
.64
.66
•23
.33
.35
.54
.25
.47
.27
.53
.75
.70
.50
.63
.58
.70
.67
.51
.23
.98
1.06
1.09
1.00

.67
.86
.95
.96
.92
.85
.93
.89

-0.02

0.16

0.05

.24
.43
.37
.38
.61
.21
.69
.14
.29
.30
.62
.24
.57
.63
.60
.64
.64
.43
.58
.67
.27
.49
.77
.86
.97
.82
.86
.84
.95
.96

.12
.13
.51
.56
.42
.37
.65
.26
.30
.42
.44
.49
.46
.53
.72
.64
.70
.30
.77
.86
.16
.78
.80

.22
.31
.67
.55
.18
.41
.46
.35
.14
.62
.01
.25
.62
.73
.58
.56
.66
.42
.69
.80
.61
.68
.82

0.16

1.08

1.29 *

1.05

.92
.65
.83
.82
1.03

.70
.48
.85
.96
.99

.92
.74
.80
.87
.98
.98
.87
.79
.94
.83

.97

1.01

1.18

1.01

.57
.88
.91

1.09

.36
.82
.86
.66

.93
.88

-0.06

0.01

0.09

0.15

0.14

0.09

0.06

.21
.43
.21
.36
.77
.20
.45
.18
.45
.27
.42
.20
.52
.74
.66
.52
.61
.54
.64
.63
.42
.46
.89
.95
.97
.92
.70
.91
.94
.97

.24
.42
.32
.36
.68
.22
.60
.14
.35
.28
.57
.21
.55
.67
.59
.62
.47
.60
.65
.30
.51
.81
.87
.96
.84
.80
.87
.94
.99

.22
.38
.41
.44
.59
.26
.71
.15
.31
.28
.66
.29
.56
.57
.60
.64
.66
.34
.63
.72
.19
.54
.82
.89
.99
.79
.91
.83
.98
.96

.18
.29
.46
.54
.55
.30
.66
.16
.34
.32
.67
.40
.52
.53
.62
.62
.70
.23
.72
.81
.11
.65
.86
.99

.14
.19
.49
.56
.47
.34
.62
.22
.32
.40
.53
.48
.47
.54
.68
.62
.71
.26
.76
.85
.13
.75
.83

.13
.13
.52
.56
.32
.40
.63
.30
.24
.49
.34
.46
.48
.53
.71
.66
.68
.32
.77
.86
.22
.76
.75

.15
.16
.59
.56
.18
.43
.58
.35
.12
.58
.16
.38
.53
.58
.70
.69
.68
.36
.73
.84
.43
.70
.73

.19
.25
.66
.56
.15
.42
.51
.36
.11
.61
.05
.30
.60
.68
.64
.63
.67
.41
.70
.82
.60
.67
.79

.95

1.03

1.12

1.18

1.17

1.08

.63
.72
.84

.57
.80
.88

.67
.97
.99

.85
1.11
1.06

1.07

1.08

1.12

1.18

.73
.91
.84

.96
.68
.85
.84

.87
.62
.80
.82

.78
.59
.87
.82

.73
.53
.91
.89

1.03

1.04

1.02

1.01

.96

.95
.74
.84

1.01
1.00

.94

.94
.94
.90

1.13

1.08

1.02

.96

.84

.75

1.01

.48
.81
.91
.67

0.02

0.19

.25
.20
.72
.56
.23
.40
.41
.44
.21
.59
.13
.40
.66
.76
.54
.57
.63
.56
.69
.63
.40
.81
.94

.41
.22
.41
.72
.21
.47
.20
.44
.27
.46
.22
.53
.72
.65
.54
.62
.53
.64
.65
.41
.43
.89
.95
.99
.92
.72
.89
.94
.97

1.16

.84
.55
.83
.96
.96
.95
.58
.93
.84

0.08

0.10

.18
.29
.45
.51
.54
.30
.66
.18
.32
.33
.62
.39
.52
.55
.63
.63
.69
.28
.70
.79
.14
.65
.84
.98
.99
.73
.89
.84

.16
.18
.59
.56
.22
.42
.57
.34
.16
.56
.18
.38
.54
.60
.68
.66
.68
.36
.73
.84
.42
.71
.76

0.14

1.13

1.00

.79
.58
.86
.84

.98
.77
.76
.85
.98
.96
.96
.73
.95
.86

1.02

1.01

.96

.96
.72
.85

1.04

1.14

.66
.78
.86

.82

105. Money supply Ml in 1972 dolars
[BKons of dolars]
207.5
208.8
209.1
190.6
189.0
192.0
191.7
191.3
192.9
196.5
196.0
196.8
189.1
188.1
187.0
193.2
193.4
193.8
197.4
197.3
197.8
199.4
198.3
198.0

206.7
189.0
192.6
195.5
190.2
193.8
197.1
200.1

203.4
189.4
191.9
194.8
190.4
195.2
196.6
200.8

202.7
189.6
192.7
194.2
190.2
195.3
196.3
202.4

202.0
190.2
192.6
193.6
190.6
196.0
197.0
203.0

198.7
190.7
193.7
191.2
190.6
196.1
197.0
203.4

208.2
196.9
191.0
195.3
187.4
192.2
197.1
196.9

208.6
192.2
191.4
196.7
187.4
193.3
197.6
197.7

1.07
1.00

1.00

.75

Average for period
205.9
201.1
189.1
190.2
192.5
193.0
195.4
193.0
189.9
190.5
194.1
195.8
197.0
196.8
200.1
202.9

1947
1948
1949
1950
1951
1952
1953
1954

209.7
196.9
190.5
195.0
189.1
191.3
196.7
196.9

208.7
196.8
191.2
195.3
186.3
192.3
196.9
196.7

206.2
197.1
191.3
195.7
186.8
193.0
197.6
197.2

207.8
193.9
191.3
196.8
187.0
192.8
197.7
196.8

1955
1956
1957
1958
1959
1960
1961
1962
1963
1964

204.5
207.7
203.5
194.5
201.6
200.8
199.4
204.2
205.7
209.9

205.3
207.4
202.4
195.2
202.4
200.3
200.1
204.2
206.3
210.9

205.0
207.5
202.1
194.3
203.1
200.3
200.6
204.1
206.5
210.9

205.4
207.7
201.5
194.7
202.9
199.0
201.0
204.5
207.5
211.2

206.7
206.5
201.2
195.4
204.0
199.0
201.7
205.0
208.1
211.9

206.8
206.0
200.3
196.8
204.1
198.8
202.0
204.9
207.6
212.0

207.1
204.9
199.8
197.0
204.8
200.0
201.5
204.7
208.2
213.6

207.4
204.4
199.3
197.8
204.8
201.2
202.3
204.3
208.5
214.9

206.8
204.9
198.7
198.3
203.0
201.0
202.4
203.1
208.9
215.7

207.2
203.8
198.3
199.2
201.6
199.7
203.0
203.9
209.6
216.2

206.4
204.1
197.3
200.1
201.5
199.2
203.8
204.6
210.7
216.5

207.0
203.7
196.3
200.3
200.6
198.9
204.2
205.4
209.6
216.6

204.9
207.5
202.7
194.7
202.4
200.5
200.0
204.2
206.2
210.6

206.3
206.7
201.0
195.6
203.7
198.9
201.6
204.8
207.7
211.7

207.1
204.7
199.3
197.7
204.2
200.7
202.1
204.0
208.5
214.7

206.9
203.9
197.3
199.9
201.2
199.3
203.7
204.6
210.0
216.4

1965
1966
1967
1968
1969
1970
1971
1972
1973
1974

217.1
224.1
220.4
228.3
235.5
229.6
228.6
236.2
249.0
238.9

217.3
223.3
221.5
228.1
235.2
226.7
229.8
237.1
247.9
237.1

217.9
223.9
223.7
228.4
234.3
227.3
231.4
239.1
245.6
236.1

218.1
224.8
222.5
229.2
233.9
227.6
232.3
240.1
244.7
234.9

217.0
223.7
224.0
230.2
233.3
227.0
233.3
239.9
245.5
233.1

216.9
223.8
224.8
230.8
232.5
226.5
233.7
240.2
246.1
232.2

218.1
221.8
225.5
231.0
231.9
226.2
234.0
241.3
246.3
230.9

219.1
221.0
226.6
231.7
230.8
227.5
234.4
243.0
242.2
228.8

220.2
222.0
226.8
232.0
230.1
228.1
234.7
244.1
241.6
226.7

221.6
220.1
227.8
232.5
230.2
227.7
234.8
245.2
240.4
225.5

222.0
220.2
227.6
233.8
229.6
227.8
234.8
245.6
240.3
224.8

222.6
220.8
228.0
234.6
228.4
227.8
234.6
247.7
240.3
223.5

217.4
223.8
221.9
228.3
235.0
227.9
229.9
237.5
247.5
237.4

217.3
224.1
223.8
230.1
233.2
227.0
233.1
240.1
245.4
233.4

219.1
221.6
226.3
231.6
230.9
227.3
234.4
242.8
243.4
228.8

222.1
220.4
227.8
233.6
229.4
227.8
234.7
246.2
240.3
224.6

1975
1976
1977
1978
1979
1980
1981
1982

221.8
219.2
223.0
226.4
221.9
209.7
199.9
198.1

221.2
220.4
222.7
225.6
220.6
209.6
199.9
198.1

222.0
220.9
223.1
224.9
220.1
206.2
200.5
198.4

220.6
221.7
223.2
225.3
220.3
200.3
202.1
198.2

222.3
222.5
222.8
225.8
218.7
199.3
200.4
197.6

223.9
221.5
222.6
225.4
219.2
199.9
198.9
195.9

222.0
220.8
223.2
224.9
219.0
202.3
197.6
195.2

222.3
221.3
223.5
224.6
218.0
204.4
196.8
196.3

221.5
220.5
224.1
224.9
216.8
205.2
194.7
198.2

219.5
221.5
224.9
223.5
214.8
204.7
193.9
199.7

220.3
221.4
224.8
223.1
212.4
203.3
194.2
201.9

218.9
222.5
225.3
223.6
211.3
200.1
195.5
204.3

221.7
220.2
222.9
225.6
220.9
208.5
200.1
198.2

222.3
221.9
222.9
225.5
219.4
199.8
200.5
197.2

221.9
220.9
223.6
224.8
217.9
204.0
196.4
196.6

219.6
221.8
225.0
223.4
212.8
202.7
194.5
202.0

98



.29
.41
.53
.47
.31
.53
.28
.32
.40
.38
.31
.54
.66
.65
.59
.66
.43
.68
.75
.39
.54
.84

Average for period

-0.07

*.62

Annual

Average for period

-0.13

-.07

IV Q

.28
.37
.55
.51
.29
.53
.28
.34
.34
.46
.28
.50
.63
.68
.59
.64
.45
.66
.74
.40
.55
.82

205.9
192.1
192.0
195.1
188.8
193.8
197.1
199.4
206.3
205.7
200.1
197.0
202.9
199.8
201.8
204.4
208.1
213.4
219.0
222.5
224.9
230.9
232.1
227.5
233.0
241.6
244.2
231.0
221.4
221.2
223.6
224.8
217.8
203.8
197.9
198.5

Year

Jan.

Feb.

Mar.

Apr.

May

Monthly
June
My

Quarterly
Aug.

Sept.

Oct.

Itov.

Dec.

106. Money supply M2 in 1972 doiiars
[BUons of dollars]

IV Q

J1__M_

Annual

Average for period

1947
1948
1949
1950
1951
1952
1953
1954

382.0
361.4
352.7
361.6
347.5
350.9
364.1
370.8

381.0
361.7
354.0
362.0
341.9
353.0
365.2
371.3

376.1
362.8
354.2
362.6
342.5
354.6
366.7
373.0

378.6
357.2
354.4
364.3
342.8
354.5
367.1
373.8

380.8
353.8
355.3
364.1
342.8
355.6
367.7
375.9

380.0
351.6
355.0
363.5
344.7
356.4
367.2
377.0

378.0
348.5
357.9
361.7
346.8
355.5
368.2
379.8

377.1
348.5
357.4
360.4
348.9
357.0
368.0
382.0

371.7
349.4
356.4
358.6
349.2
359.8
367.9
383.4

371.1
350.0
357.9
357.2
348.7
360.1
368.2
386.3

370.0
351.6
357.4
356.3
349.6
361.9
370.0
387.2

364.7
352.8
359.4
351.8
349.5
362.7
370.6
388.0

379.7
362.0
353.6
362.1
344.0
352.8
365.3
371.7

379.8
354.2
354.9
364.0
343.4
355.5
367.3
375.6

375.6
348.8
357.2
360.2
348.3
357.4
368.0
381.7

368.6
351.5
358.2
355.1
349.3
361.6
369.6
387.2

375.9
354.1
356.0
360.3
346.2
356.8
367.6
379.0

1955
1956
1957
1958
1959
1960
1961
1962
1963
1964

389.9
397.3
393.7
387.4
413.1
424.7
440.4
470.1
501.8
534.4

391.5
396.7
392.7
391.4
415.1
424.4
443.6
472.5
504.9
538.2

391.2
397.2
393.3
392.0
417.4
425.8
446.2
475.5
508.2
540.5

392.3
397.7
392.6
394.4
418.6
424.8
448.8
478.3
512.2
542.8

394.2
395.9
393.0
396.7
421.1
425.7
451.8
480.6
515.6
545.9

394.9
395.2
391.9
400.6
422.4
427.4
454.6
483.9
517.3
549.1

395.5
393.6
391.9
402.5
423.8
430.5
455.0
485.6
519.4
553.1

396.0
393.4
391-.7
404.7
425.2
433.7
457.6
487.5
522.1
557.4

395.4
394.6
391.6
406.0
424.4
435.7
459.8
488.0
525.7
561.0

396.1
392.7
392.0
407.6
422.9
435.2
462.1
491.8
528.4
563.2

395.2
393.5
391.0
409.2
423.3
436.5
465.0
495.1
531.8
565.9

396.4
392.6
390.3
409.9
423.7
438.0
467.5
499.4
532.6
568.5

390.9
397.1
393.2
390.3
415.2
425.0
443.4
472.7
505.0
537.7

393.8
396.3
392.5
397.2
420.7
426.0
451.7
480.9
515.0
545.9

395.6
393.9
391.7
404.4
424.5
433.3
457.5
487.0
522.4
557.2

395.9
392.9
391.1
408.9
423.3
436.6
464.9
495.4
530.9
565.9

394.0
395.0
392.1
400.2
420.9
430.2
454.4
484.0
518.3
551.7

1965
1966
1967
1968
1969
1970
1971
1972
1973
1974

571.8
606.3
611.4
647.0
667.9
651.8
665.3
730.4
7^6.5
773.9

575.7
605.6
614.7
648.5
668.0
646.5
673.5
736.2
795.9
769.3

579.0
607.6
620.4
649.9
665.9
646.1
682.5
743.8
790.7
767.4

580.3
608.0
622.3
651.2
664.2
644.3
690.1
747.8
788.7
764.7

581.0
608.0
627.5
653.3
663.4
644.8
695.6
750.8
790.7
758.9

582.7
608.5
631.0
654.5
661.5
646.1
698.4
755.9
793.7
756.4

586.4
606.8
634.5
654.8
659.5
646.1
701.5
762.2
795.3
752.8

590.9
605.4
637.6
657.0
657.2
649.3
705.6
769.6
783.5
746.5

594.6
607.6
639.8
659.5
656.0
651.8
711.3
775.5
782.2
740.6

598.2
605.6
642.8
661.1
655.1
653.5
715.6
780.9
778.0
736.9

600.6
607.3
644.0
664.3
655.9
657.0
721.2
785.7
778.1
735.3

602.9
610.3
646.5
666.9
655.0
660.6
724.9
792.0
778.6
731.7

575.5
606.5
615.5
648.5
667.3
648.1
673.8
736.8
794.4
770.2

581.3
608.2
626.9
653.0
663.0
645.1
694.7
751.5
791.0
760.0

590.6
606.6
637.3
657.1
657.6
649.1
706.1
769.1
787.0
746.6

600.6
607.7
644.4
664.1
655.3
657.0
720.6
786.2
778.2
734.6

587.0
607.2
631.0
655.7
660.8
649.8
698.8
760.9
787.7
752.9

1975
1976
1977
1978
1979
1980
1981
1982

729.3
774.2
838.2
864.6
850.7
806.2
785.9
800.9

732.1
784.0
839.1
864.8
847.1
805.1
786.5
802.8

738.2
789.4
843.0
863.8
845.6
797.2
789.7

743.0
795.7
845.0
861.5
843.7
785.7
793.2
809.7

751.0
802.7
848.6
860.2
839.5
784.0
789.8
808.2

758.0
802.3
850.2
858.0
839.8
787.0
789.3
805.6

759.4
803.8
852.8
856.2
837.5
797.3
787.1
807.9

763.8
810.5
856.8
857.6
836.4
802.0
790.1
815.2

765.4
814.3
859.8
858.2
833.9
801.7
786.7
820.1

764.2
820.5
861.7
855.3
827.0
798.2
789.3
822.1

767.5
827.2
862.8
854.6
819.1
795.9
793.1
828.6

769.4
834.0
863.8
854.9
813.3
787.8
796.4
837.1

733.2
782.5
840.1
864.4
847.8
802.8
787.4
804.2

750.7
800.2
847.9
859.9
841.0
785.6
790.8
807.8

762.9
809.5
856.5
857.3
835.9
800.3
788.0
814.4

767.0
827.2
862.8
854.9
819.8
794.0
792.9
829.3

753.4
804.9
851.8
859.1
836.1
795.7
789.8
813.9

108. Ratio, personal income to money supply M2
[Ratio]

Averate for period

1947
1948
1949
1950
1951
1952
1953
1954

0.954
983
1.027
1.065
1.157
1.177
1.218
1.203

0.949
.981
1.023
1.074
1.168
1.188
1.224
1.204

0.943
1.002
1.028
1.096
1.176
1.188
1.229
1.196

0.924
1.009
1.022
1.067
1.187
1.182
1.227
1.191

0.921
1.017
1.018
1.065
1.190
1.191
1.229
1.185

0.932
1.038
1.008
1.067
1.195
1.193
1.233
1.182

0.932
1.040
1.002
1.085
1.186
1.185
1.227
1.179

0.930
1.051
1.012
1.104
1.195
1.213
1.222
1.179

0.999
1.053
1.028
1.113
1,189
1.218
1.220
1.184

0.959
1.058
1.010
1.125
1.197
1.219
1.225
1.186

0.958
1.053
1.022
1.133
1.192
1.211
1.215
1.192

0.970
1.042
1.026
1.156
1.190
1.216
1.209
1.194

0.949
.989
1.026
1.078
1.167
1.184
1.224
1.201

0.926
1.021
1.016
1.066
1.191
1.189
1.230
1.186

0.954
1.048
1.014
1.101
1.190
1.205
1.223
1.181

0.962
1.051
1.019
1.138
1.193
1.215
1.216
1.191

0.948
1.027
1.019
1.096
1.185
1.198
1.223
1.190

1955
1956
1957
1958
1959
1960
1961
1962
1963
1964

1.194
1.266
1.317
1.334
1.304
1.333
1.294
1.278
1.254
1.223

1.194
1.273
1.327
1.316
1.306
1.332
1.291
1.277
1.239
1.221

1.205
1.276
1.327
1.313
1.309
1.329
1.288
1.277
1.234
1.221

1.213
1.285
1.327
1.299
1.317
1.338
1.284
1.275
1.230
1.224

1.219
1.287
1.329
1.295
1.316
1.339
1.284
1.271
1.228
1.225

1.223
1.292
1.338
1.290
1.316
1.334
1.289
1.269
1.229
1.223

1.238
1.287
1.340
1.309
1.313
1.327
1.289
1.268
1.224
1.220

1.240
1.305
1.342
1.300
1.298
1.317
1.282
1.264
1.221
1.220

1.245
1.309
1.337
1.303
1.300
1.312
1.278
1.263
1.221
1.217

1.250
1.321
1.336
1.301
1.303
1.312
1.283
1.258
1.222
1.212

1.260
1.317
1.335
1.310
1.315
1.305
1.286
1.255
1.215
1.212

1.265
1.322
1.332
1.313
1.330
1.291
1.286
1.251
1.222
1.218

1.198
1.272
1.324
1.321
1.306
1.331
1.291
1.277
1.242
1.222

1.218
1.288
1.331
1.295
1.316
1.337
1.286
1.272
1.229
1.224

1.241
1.300
1.340
1.304
1.304
1.319
1.283
1.265
1.222
1.219

1.258
1.320
1.334
1.308
1.316
1.303
1.285
1.255
1.220
1.214

1.229
1.295
1.332
1.307
1.311
1.322
1.286
1.267
1.228
1.220

1965
1966
1967
1968
1969
1970
1971
1972
1973
1974

1.220
1.226
1.274
1.245
1.271
1.327
1.326
1.264
1.243
1.292

1.213
1.231
1.266
1.251
1.276
1.339
1.312
1.265
1.254
1.292

1.211
1.232
1.263
1.259
1.282
1.343
1.303
1.259
1.263
1.290

1.214
1.232
1.259
1.262
1.289
1.372
1.290
1.258
1.266
1.300

1.221
1.235
1.252
1.267
1.296
1.358
1.282
1.258
1.264
1.313

1.222
1.242
1.248
1.269
1.300
1.352
1.300
1.236
1.263
1.320

1.221
1.251
1.247
1.274
1.310
1.356
1276
1.244
1.270
1.331

1.217
1.257
1.245
1.275
1.319
1.352
1.275
1.243
1.277
1.331

1.240
1.260
1.240
1.274
1.322
1.349
1.267
1.235
1.289
1.333

1.225
1.266
1.235
1.274
1.325
1.336
1.262
1.246
1.296
1.339

1.228
1.271
1.240
1.273
1.321
1.328
1.258
1.251
1.299
1.330

1.229
1.267
1.245
1.271
1.325
1.324
1.263
1.247
1.296
* 1.332

1.215
1.230
1.268
1.252
1.276
1.336
1.314
1.263
1.253
1.291

1.219
1.236
1.253
1.266
1.295
1.361
1.291
1.251
1.264
1.311

1.226
1.256
1.244
1.274
1.317
1.352
1.273
1.241
1.279
1.332

1.227
1.268
1.240
1.273
1.324
1.329
1.261
1.248
1.297
1.334

1.222
1.248
1.251
1.266
1.303
1.345
1.284
1.250
1.273
1.317

1975
1976
1977
1978
1979
1980
1981
1982

1.325
1.295
1.241
1.257
1.330
1.382
1.414
1.391

1.319
1.289
1.243
1.261
1.334
1.375
1.414
1.393

1.309
1.283
1.244
1.270
1.339
1.380
1.412
1.387

1.305
1.279
1.241
1.281
1.336
1.388
1.408
1.389

1.302
1.271
1.239
1.283
1.337
1.383
1.411
1.388

1.312
1.270
1.241
1.290
1.334
1.372
1.417
1.380

1.294
1.273
1.248
1.302
1.346
1.376
1.432
1.377

1.299
1.266
1.247
1.304
1.346
1.370
1.432
1.359

1.297
1.261
1.250
1.304
1.345
1.373
1.435
1.355

1.302
1.254
1.256
1.313
1.355
1.384
1.425
1.357

1.296
1.254
1.258
1.318
1.364
1.389
1.415
1.354

1.292
1.248
1.263
1.328
1.370
1.405
1.403
1.350

1.318
1.289
1.243
1.263
1.334
1.379
1.413
1.390

1.306
1.273
1.240
1.285
1.336
1.381
1.412
1.386

1.297
1.267
1.248
1.303
1.346
1.373
1.433
1.364

1.297
1.252
1.259
1.320
1.363
1.393
1.414
1.354

1.304
1.270
1.248
1.293
1.345
1.381
1.418
1.373

109. Average prime rate charged by banks (
[Percent]

Average for period

1947
1948
1949
1950
1951
1952
1953
1954

T50~
1.75
2.00
2.00
2.44
3.00
3.00
3.25

1.50
1.75
2.00
2.00
2.50
3.00
3.00
3.25

1.50
1.75
2.00
2.00
2.50
3.00
3.00
3.13

1.50
1.75
2.00
2.00
2.50
3.00
3.03
3.00

1.50
1.75
2.00
2.00
2.50
3.00
3.25
3.00

1.50
1.75
2.00
2.00
2.50
3.00
3.25
3.00

1.50
1.75
2.00
2.00
2.50
3.00
3.25
3.00

1.50
2.00
2.00
2.00
2.50
3.00
3.25
3.00

1.50
2.00
2.00
2.08
2.50
3.00
3.25
3.00

1.50
2.00
2.00
2.25
2.62
3.00
3.25
3.00

1.50
2.00
2.00
2.25
2.75
3.00
3.25
3.00

1.75
2.00
2.00
2.25
2.85
3.00
3.25
3.00

1.50
1.75
2.00
2.00
2.48
3.00
3.00
3.21

1.50
1.75
2.00
2.00
2.50
3.00
3.18
3.00

1.50
1.92
2.00
2.03
2.50
3.00
3.25
3.00

1.58
2.00
2.00
2.25
2.74
3.00
3.25
3.00

1.52
1.85
2.00
2.07
2.56
3.00
3.17
3.05

1955
1956
1957
1958
1959
1960
1961
1962
1963
1964

3.00
3.50
4.00
4.34
4.00
5.00
4.50
4.50
4.50
4.50

3.00
3.50
4.00
4.00
4.00
5.00
4.50
4.50
4.50
4.50

3.00
3.50
4.00
4.00
4.00
5.00
4.50
4.50
4.50
4.50

3.00
3.65
4.00
3.83
4.00
5.00
4.50
4.50
4.50
4.50

3.00
3.75
4.00
3.50
4.23
5.00
4.50
4.50
4.50
4.50

3.00
3.75
4.00
3.50
4.50
5.00
4.50
4.50
4.50
4.50

3.00
3.75
4.00
3.50
4.50
5.00
4.50
4.50
4.50
4.50

3.23
3.84
4.42
3.50
4.50
4.85
4.50
4.50
4.50
4.50

3.25
4.00
4.50
3.83
5.00
4.50
4.50
4.50
4.50
4.50

3.40
4.00
4.50
4.00
5.00
4.50
4.50
4.50
4.50
4.50

3.50
4.00
4.50
4.00
5.00
4.50
4.50
4.50
4.50
4.50

3.50
4.00
4.50
4.00
5.00
4.50
4.50
4.50
4.50
4.50

3.00
3.50
4.00
4.11
4.00
5.00
4.50
4.50
4.50
4.50

3.00
3.72
4.00
3.61
4.24
5.00
4.50
4.50
4.50
4.50

3.16
3.86
4.31
3.61
4.67
4.78
4.50
4.50
4.50
4.50

3.47
4.00
4.50
4.00
5.00
4.50
4.50
4.50
4.50
4.50

3.16
3.77
4.20
3.83
4.48
4.82
4.50
4.50
4.50
4.50

1965
1966
1967
1968
1969
1970
1971
1972
1973
1974

4.50
5.00
5.96
6.00
6.95
8.50
6.29
5.18
6.00
9.73

4.50
5.00
5.75
6.00
7.00
' 8.50
5.88
4.75
6.02
9.21

4.50
5.35
5.71
6.00
7.24
8.39
5.48
4.75
6.30
8.83

4.50
5.50
5.50
6.20
7.50
8.00
5.25
4.98
6.60
10.02

4.50
5.50
5.50
6.50
7.50
8.00
5.42
5.00
7.01
11.25

4.50
5.52
5.50
6.50
8.23
8.00
5.50
5.04
7.49
11.54

4.50
5.75
5.50
6.50
8.50
8.00
5.90
5.25
8.30
11.98

4.50
5.88
5.50
6.50
8.50
8.00
6.00
5.27
9.23
12.00

4.50
6.00
5.50
6.40
8.50
7.83
6.00
5.50
9.86
12.00

4.50
6.00
5.50
6.00
8.50
7.50
5.91
5.73
9.94
11.68

4.50
6.00
5.68
6.20
8.50
7.28
5.47
5.75
9.75
10.83

4.92
6.00
6.00
6.60
8.50
6.92
5.25
5.79
9.75
10.50

4.50
5.12
5.81
6.00
7.06
8.46
5.88
4.89
6.11
9.26

4.50
5.51
5.50
6.40
7.74
8.00
5.39
5.01
7.03
10.94

4.50
5.88
5.50
6.47
8.50
7.94
5.97
5.34
9.13
11.99

4.64
6.00
5.73
6.27
8.50
7.23
5.54
5.76
9.81
11.00

4.54
5.62
5.63
6.28
7.95
7.91
5.70
5.25
8.02
10.80

1975
1976
1977
1978
1979
1980
1981
1982

10.05
7.00
6.25
7.93
11.75
15.25
20.16
15.75

8.96
6.75
6.25
8.00
11.75
15.63
19.43
16.56

7.93
6.75
6.25
8.00
11.75
18.31
18.05
16.50

7.50
6.75
6.25
8.00
11.75
19.77
17.15
16.50

7.40
6.75
6.41
8.27
11.75
16.57
19.61
16.50

7.07
7.20
6.75
8.63
11.65
12.63
20.03
16.50

7.15
7.25
6.75
9.00
11.54
11.48
20.39
16.26

7.66
7.01
6.83
9.01
11.91
11.12
20.50
14.39

7.88
7.00
7.13
9.41
12.90
12.23
20.08
13.50

7.96
6.78
7.52
9.94
14.39
13.79
18.45
12.52

7.53
6.50
7.75
10.94
15.55
16.06
16.84
11.85

7.26
6.35
7.75
11.55
15.30
20.35
15.75
11.50

8.98
6.83
6.25
7.98
11.75
16.40
19.21
16.27

7.32
6.90
6.47
8.30
11.72
16.32
18.93
16.50

7.56
7.09
6.90
9.14
12.12
11.61
20.32
14.72

7.58
6.54
7.67
10.81
15.08
16.73
17.01
11.96

7.86
6.84
6.82
9.06
12.67
15.27
18.87
14.86

See footnotes at end of this part




99

Year

Monthly
Jan.

Feb.

Mar.

Apr.

May

June

Quarterly

July

Aug.

Sept.

Oct.

Nov.

Dec.

111. Change in business and consumer credit outstanding
[Annual rate, percent]

IS

!UL

IV Q

Annual

Average for period

1947
1948
1949
1950
1951
1952
1953
1954

30.3
4.2
19.1
24.2
9.8
14.9
-2.0

10.4
4.8
18.1
24.9
3.4
13.5
2.3

22.9
2.4
13.7
16.1
7.5
19.2
-1.3

21.6
-1.1
15.5
13.4
5.4
16.0
-.5

31.1
4.0
18.9
11.3
18.0
13.7
-2.9

20.6
1.1
30.5
5.8
22.9
5.5
-1.2

25.2
-3.3
39.7
-.5
16.8
9.7
2.9

29.2
16.6
4.1
32.0
6.7
10.6
9.6
-15.1

27.0
10.9
11.1
38.7
7.4
17.4
3.5
3.2

32.0
.3
16.7
18.9
8.1
23.6
2.2
4.3

37.6
-1.5
12.8
15.7
7.3
21.1
.7
10.5

31.9
1.9
12.6
20.6
10.8
17.5
-6.2

1955
1956
1957
1958
1959
1960
1961
1962
1963
1964

16.2
13.7
8.5
1.4
12.1
10.2
7.3
8.9
11.7
10.6

16.3
12.4
7.1
0
10.9
12.9
5.4
11.1
12.4
9.5

22.1
19.8
10.7
1.0
13.3
11.6
5.5
9.9
10.4
13.4

18.2
15.2
8.5
.9
14.8
10.4
4.2
12.2
13.4
10.7

21.7
14.4
8.1
.7
16.6
9.3
5.0
12.2
12.9
11.9

22.6
10.8
8.7
3.0
17.0
11.1
6.2
11.8
11.7
10.0

20.3
10.0
8.8
5.3
16.1
6.2
6.2
11.8
13.1
12.0

21.5
10.8
6.1
4.1
16.0
5.7
8.0
12.2
12.7
10.4

19.3
10.5
7.1
9.7
13.6
8.0
9.0
11.4
12.9
12.8

9.9
7.7
2.1
8.2
13.1
6.3
7.9
13.3
14.5
9.6

15.2
11.2
1.9
10.4
10.9
8.1
10.1
13.1
14.7
9.7

1965
1966
1967
1968
1969
1970
1971
1972
1973
1974

13.2
4.3
4.2
15.4
3.0
14.5
6.9
23.6
12.6

14.6
11.4
5.7
5.0
12.9
8.0
10.2
10.5
23.6
13.7

12.3
8.9
4.1
11.2
10.1
5.1
8.6
18.4
17.5
9.0

12.7
8.3
4.1
11.2
14.7
1.6
5.6
15.5
15.4
18.5

13.6
7.2
4.2
7.8
10.6
3.8
10.7
13.6
16.6
13.9

10.4
7.1
8.2
7.1
10.3
6.3
7.5
14.7
16.4
8.9

10.5
7.6
6.4
9.1
6.4
5.9
8.6
11.7
14.7
15.0

12.6
7.2
5.2
9.5
8.9
6.4
16.0
14.7
15.0
11.3

12.8
5.0
6.7
9.9
9.9
7.2
16.1
11.9
8.0
12.2

9.6
4.4
6.6
10.8
8.0
-.3
7.0
18.1
11.3
4.1

1975
1976
1977
1978
1979
1980
1981
1982

5.7
5.6
14.2
13.7
18.7
14.9
7.9
8.4

4.1
5.5
15.8
13.6
15.3
6.8
7.9
7.9

-3.2
12.4
14.1
18.0
11.3
12.1
3.2
2.8

-.5
5.6
15.3
15.3
17.7
.6
10.0
6.6

-1.7
6.2
.1
10.7
9.0
11.9
15.6
13.4
16.3
18.4
13.9
17.1
14.6
14.7
14.4
-5.2
.1
1.6
11.2
9.9
8.4
4.7
-1.9
3.2
112. Net chang in business loans
of dotors)
[Annual rate, I

4.6
9.8
16.9
13.6
13.4
7.0
8.3
1.4

4.3
10.3
14.8
12.5
15.2
7.4
9.1
1.2

1947
1948
1949
1950
1951
1952
1953
1954

2.58
3.11
-.38
1.25
6.20
2.65
1.13
-.70

2.86
-.71
-.91
1.04
7.36
.11
.60
.77

5.23
.16
-1.42
-.01
5.56
1.44
1.84
-.34

4.28
1.22
-3.07
1.03
6.00
-.23
2.94
-.83

1.03
4.33
-2.35
1.04
4.49
.80
1.69
-1.87

0.56
2.77
-2.95
3.67
2.32
1.92
-.83
-1.93

1.57
3.84
-3.96
4.52
1.33
2.06
.37
.01

2.99
1.46
-2.08
5.26
1.30
.59
1.87
-10.16

1955
1956
1957
1958
1959
1960
1961
1962
1963
1964

2.58
4.86
3.60
-4.15
85
1.74
-.23
1.84
64
-1.37

1.96
2.05
.30
-4.03
.19
5.24
-.40
1.56
1.04
3.17

2.69
8.74
5.54
-1.28
2.84
2.68
1.74
2.34
1.50
.07

1.60
6.22
3.85
-2.09
3.26
2.40
-.38
2.57
2.48
4.24

4.40
6.19
1.76
-4.63
5.77
3.58
-.71
1.78
2.02
3.94

4.56
4.21
4.60
-1.07
5.63
5.04
-.78
2.88
1.37
3.06

5.38
4.15
2.54
-.48
-.19
-.22
.68
2.77
1.58
3.49

1965
1966
1967
1968
1969
1970
1971
1972
1973
1974

9.90
10.74
6.53
2.23
22.78
-6.46
-1.50
26.02
26.44

12.67
10.51
6.34
1.93
9.54
18.02
8.17
9.38
45.06
28.26

11.34
8.81
8.35
3.80
14.98
14.64
3.35
11.22
25.08
16.99

7.68
6.86
5.98
13.74
24.49
1.08
-12.16
13.76
19.73
61.43

12.07
9.14
4.80
2.28
13.74
6.37
9.25
6.77
15.67
27.05

6.11
13.07
8.21
6.37
14.70
6.96
-11.47
4.34
25.10
17.11

1975
1976
1977
1978
1979
1980
1981
1982

9.35
-10.75
2.70
9.43
43.40
59.08
17.57
65.16

-12.56
4.91
16.49
6.00
27.97
49.33
4.36
62.47

-17.44
-27.22
4.26
34.54
23.82
35.81
-20.64
23.77

-19.06
-32.41
8.95
25.01
65.51
2.64
46.46
64.22

-33.77
3.36
9.78
28.91
29.17
-20.46
67.79
45.05

-28.24
11.39
15.00
30.22
40.91
52.46
51.17
31.64

1947
1948
1949
1950
1951
1952
1953
1954

2JS2
3.19
1.12
3.43
2.64
1.13
5.30
-.73

2.70
2.10
1.79
3.77
1.56
1.12
5.05
.14

2.59
4.52
1.76
3.06
.18
1.48
7.02
-.92

2.74
3.22
2.44
2.71
-122
2.11
4.50
-.01

2.57
2.52
3.12
3.80
-.53
6.56
4.68
-.22

2.42
2.17
2.92
5.09
-.34
7.58
3.25
.54

1955
1956
1957
1958
1959
1960
1961
1962
1963
1964

3.68
3.41
1.85
23
4.79
5.30
3.13
1.82
6.04
8.71

4.49
3.67
2.87
-1.04
4.37
4.70
.72
5.00
7.45
2.58

6.97
4.79
2.15
-2.00
4.70
6.84
-1.85
2.12
4.30
13.80

6.13
3.00
1.75
-1.67
5.10
6.28
-2.15
6.02
7.31
6.38

6.36
2.88
3.17
-1.01
5.83
4.12
-.64
5.41
6.10
8.64

1965
1966
1967
1968
1969
1970
1971
1972
1973
1974

8.78
7.85
4.13
-.11
10.50
7.10
33.73
5.23
44.77
13.78

10.50
8.72
5.09
1.56
17.53
5.94
8.50
-1.43
24.11
14.24

5.75
4.91
.47
17.12
5.48
.56
5.72
26.35
19.40
3.23

11.00
4.19
-.02
8.39
11.10
-.50
6.95
16.78
18.98
11.81

1975
1976
1977
1978
1979
1980
1981
1982

5.33
17.99
41.34
37.12
51.78
40.49
19.54
21.42

13.30
-15.29
34.99
41.21
57.82
-22.03
35.65
8.66

-15.86
48.89
34.37'
40.73
29.26
56.95
23.12
2.62

-2.64
22.98
37.40
40.66
45.48
-24.04
25.55
19.62

33.8
.2
14.0
18.4
8.7
20.7
-1.1

15.9
5.8
23.4
11.3
14.5
8.5

20.4
10.4
7.3
6.4
15.2
6.6
7.7
11.8
12.9
11.7

12.7
9.2
2.9
10.4
11.4
6.6
9.5
12.4
13.9
10.7

18.0
12.1
6.9
4.8
13.7
8.8
7.1
11.6
12.7
11.1

12.2
7.5
5.5
8.7
11.9
3.9
7.9
14.6
16.1
13.8

12.0
6.6
6.1
9.5
8.4
6.5
13.6
12.8
12.6
12.8

10.3
4.3
8.8
11.2
6.8
3.2
9.5
16.2
9.7
3.8

"6.3
9.0
10.0
4.7
10.5
13.9
15.0
10.5

2.2
7.8
14.7
15.1
15.1
11.3
6.3
6.4

-.7
9.4
15.7
16.9
15.6
-1.0
9.9
4.8

5.0
9.7
15.0
13.3
14.4
4.8
9.1
.2

7.5
13.4
15.5
13.2
8.4
8.7
3.2
-5.9

3.5
10.1
15.2
14.6
13.4
5.9
7.1
1.4

3.05
-1.31
-.37
6.29
2.60
1.22
-4.72
4.31

3.56
.85
-.90
.76
6.37
1.40
1.19
-.09

1.96
2.77
-2.79
1.91
4.27
.83
1.27
-1.54

2.44
1.58
-2.09
5.82
1.29
1.65
.29
-3.59

3.63
-1.50
-.27
5.16
1.77
3.01
-3.05
2.24

2.90
.93
-1.51
3.41
3.43
1.72

4.20
4.09
-4.75
1.52
1.93
1.46
.78
3.65
9.10
5.32

4.07
2.35
-.67
1.85
2.54
-1.20
1.79
.56
5.59
8.03

2.41
5.22
3.15
-3.15
1.29
3.22
.37
1.91
1.06
.62

3.52
5.54
3.40
-2.60
4.89
3.67
-.62
2.41
1.96
3.75

4.73
3.92
1.36
.17
2.42
-.22
1.04
3.24
2.40
5.12

4.53
2.47
-3.43
1.50
2.57
.25
.86
2.67
6.82
5.28

3.80
4.28
1.12
-1.02
2.79
1.73
.41
2.56
3.06
3.69

8.05
7.54
5.87
10.02
11.45
-21.06
-11.66
22.91
14.47
11.08

10.06
5.58
6.20
14.65
8.54
-7.18
-1.97
10.87
14.56
16.58

7.80
3.47
10.88
9.31
11.87
-.16
-6.16
8.44
10.64
1.67

11.30
10.02
7.07
2.65
15.77
8.73
3.34

9.69
10.89
1.89
10.88
11.61
3.97
10.92
1.30
13.17
43.57

8.64
5.53
7.65
11.33
10.62
-9.47
-6.60
14.07
13.22
9.78

9.56
9.03
5.74
8.08
13.91
2.01
.72

32!05
23.90

8.62
9.69
6.33
7.46
17.64
4.80
-4.79
8.29
20.17
35.20

19:65
28.11

-17.20
-4.48
7.61
11.72
57.46
20.02
59.23
22.00

-13.76
12.72
15.91
20.78
7.21
15.49
25.18
2.71

-10.42
18.56
13.18
23.82
-12.05
53.96
42.12
-63.76

1.37
10.90
13.20
4.61
36.89
21.37
32.60
-64.46

-6.88
-11.02
7.82
16.66
31.73
48.07
.43
50.47

-27.02
-5.89
11.24
28.05
45.20
11.55
55.14
46.97

-13.01
-5.23
7.43
12.89
48.78
3.74
56.35
11.57

-7.60
14.06
14.10
16.40
10.68
30.27
33.30
-41.84

-13.63
-2.02
10.15
18.50
34.10
23.41
36.30
16.79

2.10
2.44
2.75
4.19
1.26
3.54
3.01
.49

2.05
2.89
3.05
4.67
1.57
4.67
2.70
1.27

2.58
.56
3.85
1.69
1.10
7.02
2.72
1.40

3.36
1.12
3.71
-.41
1.92
4.74
2.29
1.46

3.31
1.33
3.14
.25
1.79
6.34
.29
2.96

2.64
3.27
1.56
3.42
1.46
1.24
5.79
-.50

2.58
2.64
2.83
3.87
-.70
5.42
4.14
.10

2.12
2.60
2.73
5.08
.40
4.36
3.29
.85

3.08
1.00
3.57
.51
1.60
6.03
1.77
1.94

2.60
2.38
2.67
3.22
.69
4.26
3.75
.60

5.03
1.54
3.29
-.08
6.84
3.24
.50
5.28
7.33
7.63

6.55
3.02
2.34
-.48
7.64
2.70
1.48
5.21
7.14
6.96

6.43
1.97
2.32
1.04
7.19
3.31
2.33
4.86
6.82
8.92

3.50
2.40
2.12
-.64
6.85
2.04
2.22
5.17
8.06
6.97

3.85
3.50
1.81
1.51
5.08
2.77
3.18
6.78
6.42
4.84

4.30
2.17
1.32
3.59
3.60
1.30
3.83
6.16
6.54
8.50

5.05
3.96
2.29
-.94
4.62
5.61
.67
2.98
5.93
8.36

6.42
2.58
2.33
-1.42
5.72
4.92
-.77
5.61
6.69
7.50

6.00
2.18
2.65
.16
7.22
3.08
1.44
5.12
7.10
7.84

3.88
2.69
1.75
1.49
5.18
2.04
3.08
6.04
7.01
6.77

5.34
2.85
2.25
-.18
5.68
3.91
1.10
4.94
6.68
7.62

7.48
4.42
4.00
8.62
9.97
7.55
8.64
19.86
21.19
14.14

8.39
6.32
2.64
8.74
8.74
10.00
11.35
12.43
23.18
13.96

7.97
5.05
4.67
7.34
6.89
6.42
12.62
18.16
17.98
14.60

7.97
4.10
5.03
7.90
9.66
7.30
13.60
14.81
16.57
9.68

5.93
3.82
2.11
10.88
7.90
1.63
11.15
14.51
20.10
3.07

7.32
5.06
6.78
10.10
8.40
-2.28
15.10
16.15
18.43
-1.50

7.22
5.66
7.76
11.08
3.66
7.64
15.49
18.88
10.72
-2.08

8.34
7.16
3.23
6.19
11.17
4.53
15.98
10.05
29.43
10.42

9.28
4.23
1.59
8.45
10.82
3.33
7.70
17.60
21.52
14.18

8.11
5.16
4.11
7.99
8.43
7.91
12.52
15.13
19.24
12.75

6.82
4.85
5.55
10.69
6.65
2.33
13.91
16.51
16.42
-.17

8.14
5.35
3.62
8.33
9.27
4.52
12.53
14.82
21.65
9.29

3.94
21.48
33.08
55.21
28.32
-35.39
12.78
20.90

17.21
20.69
33.00
39.94
34.97
-7.90
19.28
4.70

12.34
21.86
35.10
39.60
35.16
14.12
21.67

10.19
23.95
35.02
38.71
41.36
-2.44
33.73
10.04

14.46
25.34
34.13
34.30
36.17
12.92
9.41
4.96

13.25
18.42
40.45
44.10
36.37
14.11
-4.36
15.65

16.31
31.15
35.89
47.17
18.17
5.86
-2.76
29.03

.92
17.20
36.90
39.69
46.29
25.14
26.10
10.90

-.10
21.02
35.59
50.03
37.21
-33.28
20.78
19.54

13.25
22.17
34.37
39.42
37.16
1.26
24.89
5.18

14.67
24.97
36.82
41.86
30.24
10.96
.76
16.55

7.19
21.34
35.92
42.75
37.72
1.02
18.14
13.04

21.2
3.8
17.0
21.7
6.9
15.9
-.3

24.4
1.3
21.6
10.2
15.4
11.7
-1.5

17.6
4.0
36.8
4.5
14.9
7.6
-3.0

13.0
8.8
4.7
12.5
10.3
5.3
10.4
10.9
12.4
12.9

18.2
15.3
8.8
.8
12.1
11.6
6.1
10.0
11.5
11.2

20.8
13.5
8.4
1.5
16.1
10.3
5.1
12.1
12.7
10.9

10.9
4.4
9.2
12.1
7.3
2.0
11.5
16.1
10.6
5.4

10.5
4.2
10.5
10.7
5.0
7.9
10.1
14.4
7.3
1.9

13.4
'' 4.7
6.8
12.8
5.4
11.1
11.9
21.6
11.8

7.5
13.7
15.1
12.9
10.6
8.2
3.0
-4.1

6.0
13.2
16.2
14.6
6.3
10.5
3.6
-5.6

9.0
13.4
15.3
12.2
8.2
7.3
3.1
-8.1

2.77
-.55
-.23
7.67
1.24
2.29
-1.38
-.61

3.58
-1.26
.35
3.97
1.72
3.23
-2.15
-.42

4.27
-1.92
-.79
5.22
1.00
4.57
-2.27
2.84

5.04
3.28
.48
-1.18
5.16
-1.84
1.43
3.58
2.10
4.93

3.76
4.32
1.07
2.17
2.28
1.39
1.00
3.36
3.53
6.95

5.33
.96
-4.86
1.12
3.23
.48
.01
3.80
5.76
2.48

4.25
11.94
4.81
8.35
4.88
-.13
-9.06
1.93
16.98
50.03

12.80
13.64
-2.65
12.78
14.78
7.67
20.11
4.45
23.09
31.18

12.02
7.08
3.52
11.51
15.16
4.36
21.72
-2.48
-.56
49.50

-8.21
-8.28
-1.56
16.68
44.53
-17.68
52.51
7.98

-13.61
-2.94
16.25
10.26
44.36
8.87
57.31
4.73

2.21
2.46
2.38
6.38
-1.62
4.86
4.16
.80

6.77
1.86
2.06
-1.58
6.23
4.37
.48
5.40
6.67
7.49

9.37
4.07
.80
8.33
11.40
2.93
7.50
16.16
24.38
16.58
-1.60
18.59
36.28
54.22
37.82
-40.40
24.02
18.10

12.0

Average for period

113. Net change in consumer instalment credit
of dolars]
"
il rate,

100



HI Q

Average for period

Year

1947
1948
1949
1950
1951
1952
1953
1954
1955
1956
1957
1958
1959
1960
1961
1962
1963
1964
1965
1966
1967
1968
1969
1970
1971
1972
1973
1974
1975
1976
1977
1978
1979
1980
1981
1982

Monthly
Jan.
0.38
97
1.16
1.09
1.39
1.69
2.04
1.21
1.26
2.46
3.21
2.60
2.84
.'... 4.44
2.30
2.75
2.91
3.53
3.83
4.60
4.76
5.08
6.18
7.91
4.49
3.40
5.31
7.76
6.49
4.96
4.60
6.45
9.35
12.04
14.72
12.41

Feb.
0.38
.99
1.16
1.12
1.39
1.57
2.02
.98
1.18
2.37
3.16
1.56
2.71
3.95
2.41
2.75
2.92
3.53
3.93
4.67
4.55
4.97
6.16
7.16
3.77
3.18
5.56
7.06

Mar.

Quarterly

Apr.
May
July
Aug.
June
114. Discount rate on new issues of 91-day Treasury bHs (
[Percent]

Sept.

Oct.

Nov.

Dec.

IQ

IIQ

UT
2.45
2.42
2.20
2.39
2.74
2.80
2.69
2.68
2.88
3.34
3.24
3.91
4.37
3.89
4.08
3.89
4.15
4.14
4.43
4.40
5.18
5.74
6.86
5.92
5.62
5.96
6.56
6.68
6.93
6.68
7.51
8.43
10.03
11.65
13.73

1947
1948
1949
1950
1951
1952
1953
1954
1955
1956
1957
1958
1959
I960....,
1961
1962
1963
1964
1965
1966
1967
1968
1969
1970
1971
1972
1973
1974
1975
1976
1977
1978
1979
1980
1981
1982

2M~
2.97
2.66
2.60
2.74
3.08
3.17
3.00
2.99
3.20
4.28
3.62
4.58
5.34
4.63
4.56
4.22
4.50
4.45
4.93
5.53
6.57
7.29
9.00
7.63
7.36
7.61
8.32
9.17
8.97
7.96
8.70
9.47
11.65
14.01
16.34

See footnotes at end of this part.

Annual

Average for period

0.38
1.00
1.16
1.16
1.52
1.62
2.18
1.01

0.38
1.00
1.15
1.17
1.58
1.71
2.20
.78

0.38
1.00
1.16
1.17
1.50
1.70
2.23
.65

0.64
1.00
.98
1.17
1.59
1.82
2.10
.71

0.74
1.03
1.02
1.21
1.64
1.88
2.09
.89

0.79
1.09
1.06
1.32
1.65
1.79
1.88
1.01

0.84
1.12
1.04
1.33
1.61
1.78
1.40
.99

0.92
1.14
1.06
1.36
1.61
1.86
1.43
.95

0.95
1.15
1.10
1.37
1.73
2.13
1.63
1.17

0.38
.99
1.16
1.12
1.40
1.64
2.05
1.08

0.38
1.00
1.16
1.17
1.53
1.68
2.20
.81

0.72
1.04
1.02
1.23
1.63
1.83
2.02
.87

0.90
1.14
1.07
1.35
1.65
1.92
1.49
1.04

0.60
1.04
1.10
1.22
1.55
1.77
1.94
.95

1.34
2.31
3.14
1.35
2.85
3.44
2.42
2.72
2.90
3.55

1.62
2.61
3.11
1.13
2.96
3.24
2.33
2.74
2.91
3.48

1.49
2.65
3.04
1.05
2.85
3.39
2.29
2.69
2.92
3.48

1.43
2.53
3.32
.88
3.25
2.64
2.36
2.72
3.00
3.48

1.62
2.33
3.16
.96
3.24
2.40
2.27
2.94
3.14
3.48

1.88
2.61
3.40
1.69
3.36
2.29
2.40
2.84
3.32
3.51

2.09
2.85
3.58
2.48
4.00
2.49
2.30
2.79
3.38
3.53

2.26
2.96
3.59
2.79
4.12
2.43
2.35
2.75
3.45
3.58

2.22
3.00
3.34
2.76
4.21
2.38
2.46
2.80
3.52
3.62

2.56
3.23
3.10
2.81
4.57
2.27
2.62
2.86
3.52
3.86

1.26
2.38
3.17
1.84
2.80
3.94
2.38
2.74
2.91
3.54

1.51
2.60
3.16
1.02
3.02
3.09
2.33
2.72
2.94
3.48

1.86
2.60
3.38
1.71
3.53
2.39
2.32
2.86
3.28
3.51

2.35
3.06
3.34
2.79
4.30
2.36
2.48
2.80
3.50
3.69

1.75
2.66
3.26
1.84
3.41
2.95
2.38
2.78
3.16
3.55

3.94
4.63
4.29
5.14
6.08
6.71
3.32
3.72
6.05
7.99

3.93
4.61
3.85
5.36
6.15
6.48
3.78
3.72
6.29
8.23

3.90
4.64
3.64
5.62
6.08
7.04
4.14
3.65
6.35
8.43

3.81
4.54
3.48
5.54
6.49
6.74
4.70
3.87
7.19
8.14

3.83
4.86
4.31
5.38
7.00
6.50
5.40
4.06
8.02
7.75

3.84
4.93
4.28
5.10
7.01
6.41
5.08
4.01
8.67
8.74

3.91
5.36
4.45
5.20
7.13
6.24
4.67
4.65
8.48
8.36

4.03
5.39
4.59
5.33
7.04
5.93
4.49
4.72
7.16
7.24

4.08
5.34
4.76
5.49
7.19
5.29
4.19
4.77
7.87
7.58

4.36
5.01
5.01
5.92
7.72
4.86
4.02
5.06
7.36
7.18

3.90
4.63
4.53
5.06
6.14
7.26
3.86
3.43
5.64
7.60

3.88
4.60
3.66
5.51
6.24
6.75
4.21
3.75
6.61
8.27

3.86
5.05
4.35
5.23
7.05
6.38
5.05
4.24
8.39
8.28

4.16
5.25
4.79
5.58
7.32
5.36
4.23
4.85
7.46
7.33

3.95
4.88
4.33
5.34
6.69
6.44
4.34
4.07
7.03
7.87

5.58
4.85
4.66
6.46
9.27
12.81
14.90
13.78

5.54
5.05
4.61
6.32
9.46
15.53
13.48
12.49

5.69
4.88
4.54
6.31
9.49
14.00
13.63
12.82

5.32
5.18
4.94
6.43
9.58
9.15
16.30
12.15

5.19
5.44
5.00
6.71
9.05
7.00
14.56
12.11

6.16
5.28
5.15
7.07
9.26
8.13
14.70
11.91

6.46
5.15
5.50
7.04
9.45
9.26
15.61
9.01

6.38
5.08
5.77
7.84
10.18
10.32
14.95
8.20

6.08
4.93
6.19
8.13
11.47
11.58
13.87
7.75

5.47
4.81
6.16
8.79
11.87
13.89
11.27
8.04

5.50
4.35
6.06
9.12
12.07
15.66
10.93
8.01

5.87
4.95
4.62
6.41
9.36
13.46
14.37
12.89

5.40
5.17
4.83
6.48
9.37
10.05
14.83
12.36

6.33
5.17
5.47
7.32
9.63
9.24
15.09
9.71

5.68
4.70
6.14
8.68
11.80
13.71
12.02
7.93

5.82
5.00
5.26
7.22
10.04
11.61
14.08
10.72

2.21
2.45
2.39
2.24
2.40
2.71
2.83
2.62

2.19
2.44
2.38
2.27
2.47
2.70
2.89
2.53

2.19
2.44
2.38
2.30
2.56
2.64
2.97
2.48

2.19
2.42
2.38
2.31
2.63
2.57
3.11
2.54

2.22
2.41
2.38
2.33
2.65
2.61
3.13
2.55

2.25
2.44
2.27
2.34
2.63
2.61
3.02
2.47

2.24
2.45
2.24
2.33
2.57
2.70
3.02
2.48

2.24
2.45
2.22
2.36
2.56
2.71
2.98
2.52

2.27
2.45
2.22
2.38
2.61
2.74
2.83
2.54

2.36
2.44
2.20
2.38
2.66
2.71
2.86
2.57

2.39
2.44
2.19
2.39
2.70
2.75
2.79
2.59

2.20
2.45
2.40
2.24
2.42
2.72
2.84
2.61

2.20
2.42
2.38
2.31
2.61
2.61
3.07
2.52

2.24
2.45
2.24
2.34
2.59
2.67
3.01
2.49

2.34
2.44
2.20
2.38
2.66
2.73
2.83
2.57

2.25
2.44
2.31
2.32
2.57
2.68
2.94
2.55

2.78
2.85
3.22
3.28
3.92
4.22
3.81
4.09
3.92
4.14

2.78
2.93
3.26
3.25
3.92
4.08
3.78
4.01
3.93
4.18

2.82
3.07
3.32
3.12
4.01
4.18
3.80
3.89
3.97
4.20

2.81
2.97
3.40
3.14
4.08
4.16
3.73
3.88
3.97
4.16

2.82
2.93
3.58
3.20
4.09
3.98
3.88
3.90
4.00
4.13

2.91
3.00
3.60
3.36
4.11
3.86
3.90
4.02
4.01
4.13

2.95
3.17
3.63
3.60
4.10
3.79
4.00
3.98
3.99
4.14

2.92
3.21
3.66
3.75
4.26
3.84
4.02
3.94
4.04
4.16

2.87
3.20
3.73
3.76
4.11
3.91
3.98
3.89
4.07
4.16

2.89
3.30
3.57
3.70
4.12
3.93
3.98
3.87
4.11
4.12

2.91
3.40
3.30
3.80
4.27
3.88
4.06
3.87
4.14
4.14

2.75
2.89
3.27
3.26
3.92
4.22
3.83
4.06
3.91
4.16

2.82
2.99
3.43
3.15
4.06
4.11
3.80
3.89
3.98
4.16

2.93
3.13
3.63
3.57
4.16
3.83
3.97
3.98
4.01
4.14

2.89
3.30
3.53
3.75
4.17
3.91
4.01
3.88
4.11
4.14

2.84
3.08
3.47
3.43
4.08
4.02
3.90
3.95
4.00
4.15

4.16
4.61
4.47
5.16
5.86
6.44
5.84
5.67
6.14
6.54

4.15
4.63
4.45
5.39
6.05
6.39
5.71
5.66
6.20
6.81

4.15
4.55
4.51
5.28
5.84
6.53
5.75
5.74
6.11
7.04

4.14
4.57
4.76
5.40
5.85
6.94
5.96
5.64
6.25
7.09

4.14
4.63
4.86
5.23
6.05
6.99
5.94
5.59
6.32
7.02

4.15
4.75
4.86
5.09
6.07
6.57
5.91
5.59
6.53
7.18

4.19
4.80
4.95
5.04
6.02
6.75
5,78
5.59
6.85
7.33

4.25
4.79
4.99
5.09
6.32
6.63
5.56
5.70
6.41
7.30

4.28
4.70
5.19
5.24
6.27
6.59
5.46
5.69
6.25
7.22

4.34
4.74
5.44
5.36
6.52
6.24
5.48
5.51
6.30
6.93

4.43
4.65
5.36
5.66
6.81
5.97
5.62
5.63
6.35
6.77

4.15
4.56
4.44
5.24
5.88
6.56
5.82
5.65
6.10
6.64

4.14
4.58
4.71
5.30
5.91
6.82
5.88
5.66
6.23
7.05

4.20
4.78
4.93
5.07
6.14
6.65
5.75
5.63
6.60
7.27

4.35
4.70
5.33
5.42
6.53
6.27
5.52
5.61
6.30
6.97

4.21
4.65
4.85
5.26
6.12
6.58
5.74
5.64
6.31
6.98

6.66
6.92
7.16
7.60
8.43
11.55
12.23
13.63

6.77
6.88
7.20
7.63
8.45
11.87
12.15
12.98

7.05
6.73
7.13
7.74
8.44
10.83
12.62
12.84

7.01
7.01
7.17
7.87
8.55
9.82
12.96
12.67

6.86
6.92
6.99
7.94
8.32
9.40
12.39
13.32

6.89
6.85
6.98
8.10
8.35
9.83
13.05
12.97

7.11
6.82
7.01
7.88
8.42
10.53
13.61
12.15

7.28
6.70
6.94
7.82
8.68
10.94
14.14
11.48

7.29
6.65
7.08
8.07
9.44
11.20
14.13
10.51

7.21
6.62
7.16
8.16
9.80
11.83
12.68
10.18

7.17
6.38
7.24
8.36
9.58
11.89
12.88
10.33

6.70
6.91
7.01
7.58
8.44
11.15
12.01
13.45

6.97
6.89
7.10
7.85
8.44
10.02
12.66
12.94

7.09
6.79
6.98
7.93
8.48
10.43
13.60
12.20

7.22
6.55
7.16
8.20
9.61
11.64
13.23
10.34

7.00
6.78
7.06
7.89
8.74
10.81
12.87
12.23

2.53
2.85
2.77
2.58
2.78
2.94
3.26
2.88

2.60
2.99
2.75
2.57
2.90
3.14
3.41
2.74

2.43
2.81
2.74
2.40
3.06
3.09
3.53
2.88

2.47
2.86
2.69
2.58
2.98
3.25
3.80
2.90

2.60
2.93
2.77
2.63
3.24
3.09
3.82
2.91

2.57
2.80
2.68
2.55
3.20
3.11
3.59
2.94

2.62
2.83
2.60
2.61
3.01
3.08
3.46
2.94

2.66
2.86
2.40
2.70
2.91
3.14
3.60
3.01

2.91
2.99
2.50
2.64
3.09
3.16
3.09
2.84

2.69
2.96
2.54
2.63
3.36
3.07
3.13
2.94

2.88
3.15
2.53
2.75
3.22
3.04
3.23
2.87

2.53
2.94
2.73
2.58
2.81
3.05
3.28
2.87

2.50
2.87
2.73
2.54
3.09
3.14
3.72
2.90

2.62
2.83
2.56
2.62
3.04
3.11
3.55
2.96

2.83
3.03
2.52
2.67
3.22
3.09
3.15
2.88

2.62
2.92
2.64
2.60
3.04
3.10
3.42
2.90

3.09
3.07
4.13
3.73
4.60
5.24
4.43
4.53
4.25
4.39

3.14
3.25
4.18
3.88
4.53
4.98
4.37
4.41
4.28
4.45

3.11
3.55
4.23
3.67
4.60
4.97
4.57
4.37
4.35
4.48

3.15
3.48
4.41
3.66
4.92
4.95
4.67
4.32
4.36
4.48

3.11
3.56
4.81
3.61
5.00
4.91
4.82
4.30
4.32
4.50

3.14
3.56
4.59
3.85
4.95
4.79
4.81
4.41
4.34
4.44

3.41
4.02
4.78
4.39
4.90
4.65
4.79
4.39
4.34
4.44

3.27
3.96
4.68
4.56
5.28
4.64
4.72
4.28
4.40
4.49

3.15
3.94
4.71
4.48
5.37
4.75
4.60
4.26
4.37
4.49

3.17
4.29
4.56
4.35
5.14
4.82
4.52
4.23
4.42
4.48

3.27
4.26
4.04
4.44
5.27
4.94
4.58
4.28
4.49
4.49

3.07
3.17
4.20
3.74
4.57
5.19
4.48
4.50
4.25
4.45

3.12
3.53
4.48
3.65
4.84
4.94
4.69
4.33
4.34
4.49

3.27
3.85
4.68
4.27
5.04
4.69
4.77
4.36
4.36
4.46

3.20
4.16
4.44
4.42
5.26
4.84
4.57
4.26
4.43
4.49

3.17
3.68
4.45
4.02
4.93
4.92
4.63
4.36
4.34
4.47

4.45
5.09
5.35
6.57
7.33
8.84
7.54
7.57
7.67
8.21

4.49
5.33
5.55
6.80
7.76
9.00
7.62
7.53
7.75
8.60

4.48
5.38
5.59
6.79
7.54
9.09
7.76
7.77
7.70
9.04

4.52
5.55
5.90
7.00
7.62
9.53
8.25
7.61
7.69
9.39

4.57
5.67
6.06
7.02
8.04
9.70
8.15
7.63
7.73
9.59

4.57
5.81
6.06
6.91
8.06
9.09
8.24
7.72
7.97
10.18

4.66
6.04
6.30
6.54
8.05
9.08
8.14
7.59
8.45
10.30

4.71
6.14
6.33
6.69
8.36
9.00
7.90
7.72
8.10
10.44

4.70
6.04
6.53
6.88
8.46
9.14
7.72
7.66
7.97
10.29

4.75
6.11
6.87
7.00
8.94
8.97
7.67
7.46
7.95
9.22

4.92
5.98
6.93
7.28
9.22
8.13
7.54
7.50
8.09
9.47

4.46
5.12
5.48
6.65
7.46
8.95
7.60
7.49
7.68
8.38

4.52
5.53
5.85
6.94
7.73
9.44
8.05
7.67
7.71
9.34

4.65
6.00
6.23
6.71
8.16
9.06
8.09
7.68
8.17
10.31

4.79
6.04
6.78
7.05
8.87
8.75
7.64
7.54
8.00
9.66

4.61
5.67
6.08
6.84
8.06
9.05
7.85
7.59
7.89
9.42

8.84
8.71
8.18
8.70
9.52
13.23
14.60
16.35

9.48
8.73
8.33
8.70
9.65
14.08
14.49
15.72

9.81
8.68
8.30
8.88
9.69
13.36
15.00
15.62

9.76
9.00
8.38
9.00
9.82
11.61
15.68
15.37

9.27
8.90
8.08
9.15
9.51
11.12
14.97
15.96

9.56
8.76
8.12
9.27
9.47
11.48
15.67
15.75

9.71
8.59
8.06
8.83
9.57
12.31
16.34
14.64

9.89
8.37
8.11
8.78
9.87
12.74
16.97
13.78

9.54
8.25
8.21
9.14
11.17
13.17
16.96
12.63

9.48
8.17
8.26
9.30
11.52
14.10
15.53
11.89

9.59
7.90
8.39
9.30
11.30
14.38
15.55
12.15

9.16
8.80
8.16
8.70
9.55
12.99
14.37
16.14

9.61
8.86
8.25
9.01
9.67
12.03
15.22
15.65

9.72
8.57
8.10
8.96
9.64
12.18
16.33
14.72

9.54
8.11
8.29
9.25
11.33
13.88
16.01
12.22

9.51
8.59
8.20
8.98
10.05
12.77
15.48
14.68

Average for period

116. Yield on new issues of high-grade corporate bonds <S>
[Percent]




IV Q

0.38
1.00
1.16
1.14
1.42
1.66
2.08
1.05

115. Yield o kmc-term Treasury bonds (J
[Percent]

1947
1948
1949
1950
1951
1952
1953
1954
1955
1956
1957
1958
1959
1960
1961
1962
1963
1964
1965
1966
1967
1968
1969
1970
1971
1972
1973
1974
1975
1976
1977
1978
1979
1980
1981
1982

IIIQ

Average for period

101

Year

Jan.

Feb.

Mar.

May

Apr.

Monthly
June
July

__
Aug.

Sept.

Oct.

Nov.

Dec.

Qaarteriy

IQ

81Q

117. Yield on muntcipai bonds, 20-bond average®
[Percent]
1947
1948
1949
1950
1951
1952
1953
1954

§11Q

fVQ

AnnuaS

Average for period

2.36
2.16
2.06
1.61
2.09
2.43
2.50

2.47
2.20
2.03
1.58
2.07
2.55
2.42

2.45
2.18
2.01
1.74
2.08
2.65
2.40

2.37
2.14
2.03
1.94
2.04
2.65
2.47

2.31
2.14
2.00
2.00
2.06
2.78
2.50

2.24
2.20
1.99
2.19
2.13
2.99
2.48

2.27
2.16
2.01
2.15
2.15
2.98
2.32

2.37
2.12
1.83
2.02
2.24
2.90
2.26

2.41
2.14
1.84
2.01
2.30
2.90
2.31

2.42
2.16
1.79
2.06
2.38
2.75
2.34

2.38
2.12
1.74
2.05
2.38
2.62
2.32

2.26
2.09
1.72
2.09
2.38
2.60
2.36

2.43
2.18
2.03
1.64
2.08
2.54
2.44

2.31
2.16
2.01
2.04
2.08
2.81
2.48

2.35
2.14
1.89
2.06
2.23
2.93
2.30

2.35
2.12
1.75
2.07
2.38
2.66
2.34

2.36
2.15
1.92
1.95
2.19
2.73
2.39

1955
1956
1957
1958
1959
1960
1961
1962
1963
1964

2.40
2.50
3.18
2.91
3.42
3.72
3.40
3.34
3.10
3.22

2.44
2.44
3.00
3.02
3.36
3.60
3.31
3.21
3.15
3.14

2.44
2.57
3.10
3.06
3.30
3.56
3.45
3.14
3.05
3.28

2.41
2.70
3.13
2.96
3.39
3.56
3.50
3.06
3.10
3.28

2.38
2.68
3.27
2.92
3.58
3.60
3.43
3.11
3.11
3.20

2.41
2.54
3.41
2.97
3.72
3.55
3.52
3.26
3.21
3.20

2.54
2.65
3.40
3.09
3.71
3.50
3.52
3.28
3.22
3.18

2.60
2.80
3.54
3.36
3.58
3.34
3.52
3.23
3.13
3.19

2.58
2.94
3.54
3.54
3.78
3.42
3.53
3.11
3.20
3.23

2.51
2.95
3.42
3.45
3.62
3.53
3.42
3.02
3.20
3.25

2.46
3.16
3.37
3.32
3.55
3.40
3.41
3.04
3.30
3.18

2.57
3.22
3.04
3.34
3.68
3.40
3.47
3.07
3.27
3.13

2.43
2.50
3.09
3.00
3.36
3.63
3.39
3.23
3.10
3.21

2.40
2.64
3.27
2.95
3.56
3.57
3.48
3.14
3.14
3.23

2.57
2.80
3.49
3.33
3.69
3.42
3.52
3.21
3.18
3.20

2.51
3.11
3.28
3.37
3.62
3.44
3.43
3.04
3.26
3.19

2.48
2.76
3.28
3.16
3.56
3.52
3.46
3.16
3.17
3.21

1965
1966
1967
1968
1969
1970
1971
1972
1973
1974

3.06
3.52
3.54
4.29
4.85
6.65
5.36
5.12
5.05
5.22

3.09
3.64
3.52
4.31
4.98
6.36
5.23
5.28
5.13
5.20

3.18
3.72
3.55
4.54
5.26
6.03
5.17
5.31
5.29
5.40

3.15
3.56
3.60
4.34
5.19
6.49
5.37
5.43
5.15
5.73

3.17
3.65
3.89
4.54
5.33
7.00
5.90
5.30
5.14
6.02

3.24
3.77
3.96
4.50
5.76
6.96
5.95
5.34
5.18
6.13

3.27
3.95
4.02
4.33
5.75
6.53
6.06
5.41
5.40
6.68

3.24
4.12
3.99
4.21
6.00
6.20
5.82
5.30
5.48
6.71

3.35
4.12
4.12
4.38
6.26
6.25
5.37
5.36
5.10
6.76

3.40
3.94
4.30
4.49
6.09
6.39
5.06
5.18
5.05
6.57

3.46
3.86
4.34
4.60
6.30
5.93
5.20
5.02
5.18
6.61

3.54
3.86
4.43
4.82
6.82
5.46
5.21
5.05
5.12
7.05

3.11
3.63
3.54
4.38
5.03
6.35
5.25
5.24
5.16
5.27

3.19
3.66
3.82
4.46
5.43
6.82
5.74
5.36
5.16
5.96

3.29
4.06
4.04
4.31
6.00
6.33
5.75
5.36
5.33
6.72

3.47
3.89
4.36
4.64
6.40
5.93
5.16
5.08
5.12
6.74

3.26
3.81
3.94
4.45
5.72
6.35
5.48
5.26
5.19
6.17

1975
1976
1977
1978
1979
1980
1981
1982

6.82
7.07
5.87
5.71
6.47
7.35
9.68
13.28

6.39
6.94
5.89
5.62
6.31
8.16
10.10
12.97

6.74
6.92
5.89
5.61
6.33
9.17
10.16
12.82

7.17
6.61
5.62
6.12
6.20
8.67
12.26
11.23

7.44
6.51
5.51
6.09
6.52
8.94
12.92
10.66

7.39
6.30
5.64
6.13
7.08
9.11
12.83
9.69

7.43
6.29
5.49
6.19
7.30
9.56
11.89
10.06

7.31
5.94
5.57
6.50
7.22
10.20
12.91
9.96

6.65
6.98
5.88
5.65
6.37
8.23
9.98
13.02

6.96
6.78
5.70
6.02
6.22
7.95
10.69
12.33

7.23
6.64
5.59
6.16
6.28
8.58
12.11
11.39

7.38
6.18
5.57
6.27
7.20
9.62
12.54
9.90

7.05
6.64
5.68
6.02
6.52
8.60
11.33
11.66

4.33
4.08
4.31
4.30
4.81
4.56

4.32
4.08
4.27
4.32
4.80
4.56

4.34

'4"60

4.67
4.87

4.74

4.65

1947
1948
1949
1950
1951
1952
1953
1954

6.95
6.97
6.95
7.07
6.60
6.87
6.87
6.79
5.73
5.75
5.62
5.63
5.80
6.03
6.22
6.28
6.29
6.25
6.13
6.13
8.63
7.59
7.63
8.13
10.62
10.78
10.67
11.14
12.59
11.95
12.45
12.28
118. Secondary market yields on FHA mortgages ®
[Percent]
"£ti
4.08
4.31
4.30
4.74
4.56

4.34
4.08
4.31
4.30
4.82
4.56

4.32
4.08
4.30
4.30
4.86
4.56

4.32
4.08
4.27
4.31
4.82
4.56

4.32
4.08
4.27
4.32
4.81
4.56

4.32
4.08
4.26
4.32
4.78
4.56

4.35
4.31
4.09
4.27
4.34
4.69

4.35

4.59

'4i35
4.09
4.29
4.30
4.67
4.57

4.63
4.78
5.32
5.39
5.64
6.21

4.63
4.81
5.35
5.37
5.71
6.19

4.67
4.87

4.70
4.92

4.75

4.73

' 6ii

6!69

4.62
4.77
5.34
5.40
5.64
6.20

5.59
5.45
5.45

5!63
5.60
6.23
6.05
5.70
5.54
5.45
5.45

' bii

4.57
4.70

5.50

4.73
4.95
5.63
5.57

5.60
5.45
5.45

4.64
4.81
5.38
5.35
5.75
6.18
5.68
5.58
5.45
5.46

5.45
6.32
6.44

5.44
6.45
6.51
7.52
8.35
9.16
7.89
7.54
7.89
9.46

5.44
6.51
6.53
7.42
8.36
9.11
7.97
7.54
8.19
9.85

5.45
6.58
6.60
7.35
8.36
9.07
7.92
7.55

5.51
6.81
6.77
7.36
8.48
8.90
7.62
7.57

5.62
6.77
6.81
7.50
8.62
8.40
7.59
7.56
8.78
9.51

4.35
4.31
4.08
4.26
4.34
4.75

4.35
4.31
4.08
4.27
4.34
4.69

4.35
4.30
4.12
4.29
4.34
4.64

*4i35

4!34

4.19
4.29

4.27
4.29

4.62

1955
1956
1957
1958
1959
1960
1961
1962
1963
1964

4.56
4.73

4.56
4.70
5.36
5.56
5.58
6.23
5.89
5.68
5.48
5.45

4.59
4.68
5.35
5.51
5.57
6.22
5.82
5.65
5.47
5.45

4.60
4.71
5.35
5.43
5.58
6.21
5.77
5.64
5.46
5.45

1965
1966
1967
1968
1969
1970
1971
1972
1973
1974

5.45
5.70
6.62
6.81

5.45

5.45
6.00
6.35
6.83
8.05
9.20
7.32
7.45
7.63
8.66

5.45

1975
1976
1977
1978
1979
1980
1981
1982

8.99
9.06
8.45
9.18
10.24
12.60
14.23
17.38

5.58
5.60
6.24
6.00
5.69
5.52
5.45

7.49
7.55

'M6
6.78
7.99
9.29
' 7.46
7.56
8.54
8.84
9.04
8.55
10*24
R79
17.10

6.29
6.94
8.06
9.10
7.37
7.50
7.73
9.17

8.69
8.65
9.35
10.26
14.63
15.04
16.41

8.82
8.64
9.44
13.45
15.91
16.31

Average for period

8.06
9.11
7.75
7.53
7.79
9.46
9.16
9.03
9.74
10.61
11.99
16.33
16.19
119.

9.06
9.05
8.77

9.13
8.99
8.77
9.96
10.49
10.46
11.85
12.39
16.31
16.76
16.73
16.29
Federal funds rate ®
[Percent]

1947
1948
1949
1950
1951
1952
1953
1954

"b'ii
5.80
6.14
5.68
5.57
5.45
5.46

5.69
5.56
5.45
5.46

5.70
5.55
5.45
5.45

iino

5.46
6.63
6.63
7.28
8.40
9.01
7.84
7.56
9.18
10.38

6.65
7.29
8.48
8.97
7.75
7.57
8.97
10.13

9.32
8.93
8.77
9.81
10.58
13.54
17.96
14.61

9.74
8.82
8.74
9.81
11.37
14.26
18.55
14.03

5.49

9.53
8.55
8.81
9.98
14.38
17.43
12.99

9.41
8.45
8.81
10.04
12.41
14.47
15.98
12.82

5.60
6.23
6.04
5.69
5.53
5.45
5.45

9.32
8.28
8.96
10.23
12.24
14.08
16.43
12.80

5.55
5.58
6.23
5.90
5.67
5.49
5.45
5.45
6.48
6.81

7.47
7.58

4]25
4.29
4.5*9

5.61
5.45
5.45
5.45
* 6.41

' 6.14
5.68
5.57
5.45
5.46

'6.06
5.70
5.54
5.45
5.45

5.45
6.57
6.59
7.35
8.37
9.06
7.91
7.55

8.16
9.12
7.67
7.52
7.80
9.36

10.18

12.43
16.18
16.41

9.40
8.91
8.76
9.86
10.80
13.40
17.76
14.98

8.84
8.55

ib'25
14.69
16.96

' 5.41

" 5.62
5.59

5.54
6.74
7.38
8.53
8.76
7.65
7.57
8.87

4'23
4.30

5.49
" 6.16
5.60
5.46
5.45
5.47

"s'ii

7.53

9.42
8.43
8.86
10.08
14.31
16.61
12.87

16.31
15.30

Average for period

1.21

1.07

0.90

0.91

1.26

1955
1956
1957
1958
1959
1960
1961
1962
1963
1964

1.37
2.44
2.93
2.72
2.48
3.99
1.45
2.14
2.91
3.48

1.29
2.50
3.00
1.67
2.40
3.97
2.54
2.37
3.00
3.48

1.35
2.50
2.96
1.20
2.80
3.84
2.02
2.70
2.98
3.43

1.43
2.62
3.00
1.26
2.96
3.92
1.50
2.69
2.90
3.47

1.43
2.75
3.00
.63
2.90
3.85
1.98
2.29
3.00
3.50

1.62
2.71
3.00
.93
3.39
3.32
1.73
2.68
2.99
3.50

1.68
2.74
2.99
.68
3.44
3.23
1.16
2.71
3.02
3.42

1.90
2.74
3.24
1.53
3.50
2.98
2.00
2.93
3.49
3.50

2.18
2.95
3.50
1.76
3.76
2.60
1.88
2.90
3.48
3.45

2.24
2.96
3.50
1.80
3.98
2.47
2.26
2.90
3.50
3.36

2.35
2.88
3.22
2.27
4.00
2.44
2.62
2.94
3.48
3.52

2.48
2.94
2.98
2.42
3.99
1.98
2.33
2.93
3.38
3.85

1.34
2.48
2.96
1.86
2.56
3.93
2.00
2.40
2.96
3.46

1.49
2.69
3.00
.94
3.08
3.70
1.74
2.55
2.96
3.49

1.92
2.81
3.24
1.32
3.57
2.94
1.68
2.85
3.33
3.46

2.36
2.93
3.23
2.16
3.99
2.30
2.40
2.92
3.45
3.58

1.78
2.73
3.11
1.57
3.30
3.22
1.96
2.68
3.18
3.50

1965
1966
1967
1968
1969
1970
1971
1972
1973
1974

3.90
4.42
4.94
4.60
6.30
8.98
4.14
3.50
5.94
9.65

3.98
4.60
5.00
4.72
6.64
8.98
3.72
3.29
6.58
8.97

4.04
4.65
4.53
5.05
6.79
7.76
3.71
3.83
7.09
9.35

4.09
4.67
4.05
5.76
7.41
8.10
4.15
4.17
7.12
10.51

4.10
4.90
3.94
6.12
8.67
7.94
4.63
4.27
7.84
11.31

4.04
5.17
3.98
6.07
8.90
7.60
4.91
4.46
8.49
11.93

4.09
5.30
3.79
6.02
8.61
7.21
5.31
4.55
10.40
12.92

4.12
5.53
3.89
6.03
9.19
6.61
5.57
4.80
10.50
12.01

4.01
5.40
4.00
5.78
9.15
6.29
5.55
4.87
10.78
11.34

4.08
5.53
3.88
5.92
9.00
6.20
5.20
5.04
10.01
10.06

4.10
5.77
4.12
5.81
8.85
5.60
4.91
5.06
10.03
9.45

4.32
5.40
4.51
6.02
8.97
4.90
4.14
5.33
9.95
8.53

3.97
4.56
4.82
4.79
6.58
8.57
3.86
3.54
6.54
9.32

4.08
4.91
3.99
5.98
8.33
7.88
4.56
4.30
7.82
11.25

4.07
5.41
3.89
5.94
8.98
6.70
5.48
4.74
10.56
12.09

4.17
5.57
4.17
5.92
8.94
5.57
4.75
5.14
10.00
9.35

4.07
5.11
4.22
5.66
8.21
7.17
4.66
4.44
8.74
10.51

1975
1976
1977
1978
1979
1980
1981
1982

7.13
4.87
4.61
6.70
10.07
13.82
19.08
13.22

6.24
4.77
4.68
6.78
10.06
14.13
15.93
14.78

5.54
4.84
4.69
6.79
10.09
17.19
14.70
14.68

5.49
4.82
4.73
6.89
10.01
17.61
15.72
14.94

5.22
5.29
5.35
7.36
10.24
10.98
18.52
14.45

5.55
5.48
5.39
7.60
10.29
9.47
19.10
14.15

6.10
5.31
5.42
7.81
10.47
9.03
19.04
12.59

6.14
5.29
5.90
8.04
10.94
9.61
17.82
10.12

6.24
' 5.25
6.14
8.45
11.43
10.87
15.87
10.31

5.82
5.03
6.47
8.96
13.77
12.81
15.08
9.71

5.22
4.95
6.51
9.76
13.18
15.85
13.31
9.20

5.20
4.65
6.56
10.03
13.78
18.90
12.37
8.95

6.30
4.83
4.66
6.76
10.07
15.05
16.57
14.23

5.42
5.20
5.16
7.28
10.18
12.69
17.78
14.51

6.16
5.28
5.82
8.10
10.95
9.84
17.58
11.01

5.41
4.88
6.51
9.58
13.58
15.85
13.59
9.29

5.82
5.05
5.54
7.93
11.19
13.36
16.38
12.26

102



Year

1947
1948
1949
1950
1951
1952
1953
1954
1955
1956
1957
1958
1959
1960
1961
1962
1963
1964
1965
1966
1967
1968
1969
1970
1971
1972
1973
1974
1975
1976
1977
1978
1979
1980
1981
1982

Quarterly

Monthly
Jan.
187.1
201.2
207.9
216.4
244.0
261.2
282.3
287.3
297.8
322.5
342.9
353.8
373.5
397.4
406.6
431.3
457.8
483.4
521.6
566.5
613.5
656.3
723.8
783.3
840.4
910.1
1,011.7
1,118.4
1,208.7
1,338.6
1,460.4
1,628.5
1,853.4
2,079.2
2,316.9
2,518.1

Feb.

Mar.

Apr.

May

July
June
223. Personal income in current dollars
[Annual rate, biions of dollars]

Aug.

Sept.

Oct.

Nov.

Dec.

IQ

JLSL

64l
71.0
72.0
70.5
76.1
79.3
79.8
80.7
80.1
80.3
82.8
85.7
86.8
87.9
89.3
89.9
91.1
92.6
93.6
95.4
98.6
102.0
106.7
113.3
119.2
123.2
127.7
139.7
156.1
166.7
175.3
187.2
204.7
233.2
260.5
282.5

Average for period

186.5
204.3
208.1
224.5
249.2
265.6
287.0
287.2

183.8
205.3
207.2
219.8
252.1
265.2
287.3
286.0

184.2
206.6
206.7
220.3
253.5
268.2
288.6
286.9

187.0
210.8
204.7
221.4
255.3
269.7
289.8
287.1

187.3
211.6
203.2
225.7
254.8
268.7
289.3
287.6

187.9
214.0
204.9
230.1
257.8
276.2
288.6
289.1

202.7
214.2
208.1
232.2
258.3
279.0
288.6
290.9

194.8
215.1
204.5
235.3
261.2
280.1
290.5
292.8

195.5
213.9
206.9
237.4
262.1
279.4
288.7
295.4

197.9
211.2
208.1
242.8
263.1
281.5
287.8
296.3

186.7
202.0
207.6
220.0
246.6
263.9
284.5
287.6

184.9
207.5
206.1
220.4
253.6
267.7
288.6
286.6

192.5
213.2
205.3
229.2
256.9
274.6
288.8
289.2

196.0
213.3
206.4
238.5
262.1
280.4
289.0
294.7

190.1
209.0
206.4
227.2
254.9
271.8
287.7
289.6

299.5
324.4
346.1
353.4
375.7
397.6
408.7
434.4
455.8
485.7

301.9
325.8
347.6
355.3
378.7
397.9
410.0
438.1
457.5
488.3

304.9
328.9
348.1
354.4
382.0
401.5
410.7
440.8
459.3
491.8

307.5
329.4
349.7
355.6
384.6
403.0
413.7
441.8
461.7
495.1

308.6
331.4
352.3
357.4
387.1
403.3
418.0
443.2
465.3
497.7

313.3
330.5
353.9
364.0
387.8
403.8
419.8
444.8
466.3
500.5

313.6
335.2
355.5
363.8
384.8
404.1
420.1
446.0
468.6
504.4

315.9
337.6
354.5
365.8
385.7
404.8
421.1
448.3
471.5
507.2

317.5
341.1
354.5
366.6
386.4
406.1
424.8
449.4
474.5
507.8

319.9
341.0
354.7
370.9
390.6
405.6
428.9
451.7
475.7
511.4

321.9
342.9
353.7
372.7
396.2
403.2
431.5
453.7
480.3
517.3

299.6
324.2
345.5
354.2
376.0
397.6
408.4
434.7
457.0
485.8

306.9
329.8
350.0
355.8
384.6
402.6
414.1
441.9
462.1
494.9

314.2
334.3
354.6
364.5
386.1
404.2
420.3
446.3
468.8
504.0

319.7
341.6
354.2
370.1
391.1
405.0
428.4
451.6
476.9
512.1

310.3
332.6
351.0
361.1
384.4
402.3
417.8
443.6
466.2
499.2

522.0
572.0
614.4
663.7
729.9
788.1
843.8
921.7
1,025.9
1,124.6

524.9
575.8
618.5
671.2
736.3
793.3
850.1
927.4
1,034.9
1,131.6

528.7
578.2
619.8
676.1
742.1
812.8
854.2
933.2
1,042.4
1,142.1

533.7
580.6
622.4
683.1
747.0
808.7
859.2
938.9
1,049.9
1,157.1

537.8
585.4
626.8
688.8
752.3
809.7
879.0
931.0
1,058.5
1,168.6

540.6
589.0
631.5
695.1
759.0
814.3
869.4
948.3
1,068.0
1,181.9

542.7
594.1
635.9
700.6
765.1
819.2
875.9
958.7
1,077.4
1,186.6

557.5
599.2
638.1
705.6
769.5
824.4
878.7
964.2
1,088.3
1,193.7

554.6
602.5
639.8
710.6
773.3
823.0
882.1
982.5
1,098.9
1,204.5

559.4
606.6
646.1
715.8
776.0
825.0
888.6
996.1
1,110.3
1,204.2

564.2
608.2
653.2
720.4
781.8
831.2
900.0
1,004.1
1,115.9
1,209.9

522.8
571.4
615.4
663.7
730.0
788.2
844.7
919.7
1,024.2
1,124.9

533.4
581.4
623.0
682.7
747.1
810.4
864.1
934.4
1,050.3
1,155.9

546.9
594.1
635.2
700.4
764.5
819.3
874.7
957.1
1,077.9
1,187.4

559.4
605.7
646.4
715.6
777.0
826.4
890.3
994.2
1,108.3
1,206.2

540.7
588.2
630.0
690.6
754.7
811.1
868.4
951.4
1,065.2
1,168.6

1,214.3
1,350.8
1,477.1
1,642.9
1,870.2
2,089.7
2,336.5
2,530.2

1,219.7
1,356.2
1,493.1
1,663.4
1,891.8
2,107.5
2,361.4
2,535.8

1,228.0
1,365.8
1,502.6
1,686.9
1,902.2
2,108.5
2,375.1
2,549.0

1,242.1
1,375.0
1,514.1
1,700.9
1,915.8
2,116.2
2,390.6
2,568.0

1,272.3
1,380.2
1,526.9
1,720.1
1,931.9
2,129.8
2,416.9
2,572.5

1,269.5
1,394.3
1,548.2
1,745.9
1,965.3
2,165.4
2,463.7
2,589.8

1,285.6
1,404.8
1,559.7
1,761.6
1,983.1
2,184.0
2,494.6
2,586.7

1,295.5
1,413.5
1,575.3
1,777.8
1,997.4
2,208.5
2,514.3
2,597.4

1,307.0
1,422.6
1,593.5
1,801.2
2,016.8
2,239.4
2,513.4
2,617.8

1,315.2
1,440.5
1,608.9
1,819.5
2,034.2
2,264.5
2,518.7
2,633.1

1,321.7
1,452.1
1,625.0
1,843.3
2,052.2
2,291.2
2,517.6
2,645.0

1,214.2
1,348.5
1,476.9
1,644.9
1,871.8
2,092.1
2,338.3
2,528.1

1,247.5
1,373.7
1,514.5
1,702.7
1,916.6
2,118.2
2,394.2
2,563.2

1,283.5
1,404.2
1,561.1
1,761.8
1,981.9
2,186.0
2,490.9
2,591.3

1,314.6
1,438.4
1,609.2
1,821.3
2,034.4
2,265.0
2,516.6
2,632.0

1,265.0
1,391.2
1,540.4
1,732.7
1,951.2
2,165.3
2,435.0
2,578.6

Average for period

64.3
70.4
71.2
70.3
77.0
78.8
79.4
80.6

65.7
70.2
71.4
70.6
77.3
78.8
79.6
80.5

65.7
71.2
71.5
70.7
77.4
79.1
79.7
80.3

65.5
71.7
71.4
71.0
77.7
79.2
79.9
80.6

66.0
72.2
71.5
71.4
77.6
79.4
80.2
80.7

66.6
73.1
71.0
72.1
77.7
80.0
80.4
80.7

67.3
73.4
71.2
72.7
77.7
80.1
80.6
80.6

68.9
73.4
71.5
73.2
78.2
80.0
80.7
80.4

68.9
73.1
71.1
73.6
78.6
80.1
80.9
80.2

69.3
72.6
71.2
73.9
79.0
80.1
80.6
80.3

70.2
72.1
70.8
74.9
79.3
80.0
80.5
80.1

64.8
70.5
71.5
70.5
76.8
79.0
79.6
80.6

65.7
71.7
71.5
71.0
77.6
79.2
79.9
80.5

67.6
73.3
71.2
72.7
77.9
80.0
80.6
80.6

69.5
72.6
71.0
74.1
79.0
80.1
80.7
80.2

66.9
72.1
71.4
72.1
77.8
79.5
80.1
80.5

80.1
80.3
83.1
85.8
86.7
88.0
89.3
90.1
91.2
92.5

80.1
80.4
83.3
86.4
86.7
88.0
89.3
90.3
91.3
92.6

80.1
80.5
83.6
86.6
86.8
88.5
89.3
90.5
91.3
92.7

80.1
80.9
83.8
86.6
86.9
88.5
89.3
90.5
91.3
92.7

80.1
81.4
84.3
86.7
87.3
88.7
89.4
90.5
91.7
92.9

80.4
82.0
84.7
86.8
87.5
88.7
89.8
90.7
92.1
93.1

80.2
81.9
84.8
86.7
87.4
88.7
89.7
90.7
92.1
93.0

80.5
82.0
84.9
86.7
87.7
88.8
89.9
91.2
92.1
93.2

80.5
82.5
84.9
86.7
88.0
89.2
89.9
91.1
92.2
93.3

80.6
82.5
85.2
86.8
88.0
89.3
89.9
91.1
92.3
93.5

80.4
82.7
85.2
86.7
88.0
89.3
89.9
91.0
92.5
93.6

80.1
80.3
83.1
86.0
86.7
88.0
89.3
90.1
91.2
92.6

80.1
80.9
83.9
86.6
87.0
88.6
89.3
90.5
91.4
92.8

80.4
82.0
84.8
86.7
87.5
88.7
89.8
90.9
92.1
93.1

80.5
82.6
85.1
86.7
88.0
89.3
89.9
91.1
92.3
93.5

80.2
81.4
84.3
86.6
87.3
88.7
89.6
90.6
91.7
92.9

93.6
96.0
98.7
102.3
107.1
113.9
119.4
123.8
128.6
141.5

93.7
96.3
98.9
102.8
108.0
114.5
119.8
124.0
129.8
143.1

94.0
96.7
99.1
103.1
108.7
115.2
120.2
124.3
130.7
143.9

94.2
96.8
99.4
103.4
109.0
115.7
120.8
124.7
131.5
145.5

94.7
97.1
99.7
104.0
109.7
116.3
121.5
125.0
132.4
146.9

94.8
97.4
100.2
104.5
110.2
116.7
121.8
125.5
132.7
148.0

94.6
97.9
100.5
104.8
110.7
116.9
122.1
125.7
135.1
149.9

94.8
98.1
100.7
105.1
111.2
117.5
122.2
126.2
135.5
151.7

94.9
98.5
101.0
105.7
111.6
118.1
122.4
126.6
136.6
153.0

95.1
98.5
101.3
106.1
112.2
118.5
122.6
126.9
137.6
154.3

95.4
98.6
101.6
106.4
112.9
119.1
123.1
127.3
138.5
155.4

93.6
95.9
98.7
102.4
107.3
113.9
119.5
123.7
128.7
141.4

94.3
96.9
99.4
103.5
109.1
115.7
120.8
124.7
131.5
145.4

94.7
97.8
100.5
104.8
110.7
117.0
122.0
125.8
134.4
149.9

95.1
98.5
101.3
106.1
112.2
118.6
122.7
126.9
137.6
154.2

94.5
97.2
100.0
104.2
109.8
116.3
121.3
125.3
133.1
147.7

157.2
167.1
177.1
188.4
207.1
236.4
263.2
283.4

157.8
167.5
178.2
189.8
209.1
239.8
265.1
283.1

158.6
168.2
179.6
191.5
211.5
242.5
266.8
284.3

159.3
169.2
180.6
193.3
214.1
244.9
269.0
287.1

160.6
170.1
181.8
195.3
216.6
247.6
271.3
290.6

162.3
171.1
182.6
196.7
218.9
247.8
274.4
292.2

162.8
171.9
183.3
197.8
221.1
249.4
276.5
292.8

163.6
172.6
184.0
199.3
223.4
251.7
279.3
293.3

164.6
173.3
184.5
200.9
225.4
253.9
279.9
294.1

165.6
173.8
185.4
202.0
227.5
256.2
280.7
293.6

166.3
174.3
186.1
202.9
229.9
258.4
281.5
292.4

157.0
167.1
176.9
188.5
207.0
236.5
262.9
283.0

159.5
169.2
180.7
193.4
214.1
245.0
269.0
287.3

162.9
171.9
183.3
197.9
221.1
249.6
276.7
292.8

165.5
173.8
185.3
201.9
227.6
256.2
280.7
293.4

161.2
170.5
181.5
195.4
217.4
246.8
272.4
289.1

0.8
.1
0
.6
-.2
0
.2
0

2.0
-.3
.2
.6
.6
-.2
.2
-.2

0.3
-.2
-.4
.6
.6
.2
.2
-.3

0.7
-.6
.2
.5
.5
0
-.3
.1

1.4
-.5
-.4
1.5
.6
.1
0
0

0.1
-.2
0
1.2
-.1
-.1
.1

0.2
.9
0
.4
.1
.2
.2
0

1.2
.3
-.2
.6
.1
.1
.1
-.2

0.8
-.4
-.2
.9
.6
.1
0
-.1

0.2
-.1
.5
.5
.1
0
0

-.1
.1
.3
.1
.1
.1
0
.2
.1
0

.4
.1
.1
0
.3
0
.1
.5
-.1
.2

0
.6
0
0
.3
.5
0
-.1
.1
.1

.1
.1
..4
.1
0
.1
0
.1
.2
.2

.1
0
.2
.5
0
0
0
.2
.1
.1

.1
.2
0
.2
0
.1
.3
.1
.1

0
.4
.2
.1
.1
.2
0
0
.2
.1

0
.2
.2
.2
.1
.1
0
.1
.1
.1

320c. Change in consumer price index for a l urban consumers over 1-month spans4
[Percent]

1947
~
1948
1.2
1949
-.1
1950
-.4
1951
1.6
1952
-.1
1953
-.3
1954
2
1955
0
1956
-.1
1957
1
1958
6
1959
2
1960
-.1
1961
0
1962
1
1963
2
1964
2
1965
1
1966
1
1967
1
1968
4
1969
3
1970
5
1971
3
1972
2
1973
5
1974
1.1
1975
7
1976
4
1977
6
1978
.6
1979
.9
1980
1.4
1981
7
1982
3
See footnotes at end of this part.




Annual

186.8
200.8
207.0
219.4
246.7
265.0
284.2
288.3

320. Consumer price index for al urban
[1967=100]

1947
1948
1949
1950
1951
1952
1953
1954
1955
1956
1957
1958
1959
1960
1961
1962
1963
1964
1965
1966
1967
1968
1969
1970
1971
1972
1973
1974
1975
1976
1977
1978
1979
1980
1981
1982

IV Q

Average for period

0.6
-.1
-.4
.4
1.8
-.1
-.1
.2

1.8
-.7
-.1
.1
.2
-.2
.1
-.2

0
1.4
.1
.1
.1
.3
.1
-.2

-0.1
.8
-.1
.5
.3
0
.1
.3

.2
.1
.4
.2
-.1
.1
.1
.3
.1
-.1

0
.1
.2
.7
0
0
0
.2
.1
.1

0
.1
.3
.2
0
.5
-.1
.1
-.1
.1

-.1
.4
.2
0
.2
.1
.1
.1
.1
.1

0
-.2
.3
.1

0
.6
.2
.4
.5
.5
.2
.4
.6
1.2

.1
.2
0
.3
.7
.4
.2
.1
.9
1.0

.3
.4
.2
.3
.5
.5
.3
.2
.7
.6

.3
.2
.2
.3
.3
.4
.4
.2
.6
1.0

.4
.1
.4
.5
.6
.3
.5
.2
.5
.8

0
.2
.3
.5
.5
.3
.3
.3
.2
.7

-.1
.6
.4
.4
.5
.3
.2
.2
1.8
1.2

.2
.2
.4
.4
.5
.5
.2
.4
.3
1.3

.1
.4
.2
.5
.4
.5
.2
.3
.9
.9

.3
0
.4
.4
.5
.3
.2
.4

.1
.3
.1
.4
.5
.5
.2
.2
.7
1.1

0
.3
.4
.4
.5
.4
.2
.3

.3
.2
.3
.4
.5
.4
.3
.3

.2
.3
.3
.4
.5
.4
.3
.3
.7
1.0

.5
.1
.9
.5
1.0
1.1

.4
.2
.5
.7
1.0
1.5

.4
.2
.7
.8
1.0
.9
.4
.2

.3
.4
.4
.8
1.1
1.0
.9
1.0

.7
.5
.5
.8
1.0
1.0

1.0
.6
.5
.8
1.1
.1
1.1
.6

.3
.5
.4
.6
1.1
.7

.7
.6
.4
.9
1.1
.9
1.0
.1

.7
.5
.4
.9
1.1
1.1
.4
.4

.7
.4
.7
.7
1.2
1.0
.5
0

.5
.2
.7
.6
1.0
1.3

.7
.6
.4
.8
1.1
.6
1.0
.3

.6
.5
.5
.7
1.1
1.0
.4
0

.6
.4
.5
.7
1.1
1.0
.7
.3

0.6
.6
.1
.5
-.2
.2
.3
0

0.7
1.0
-.9
.7
-.1
.6
0
-.3

-.1
.3
.3
0
.2
.2
0
0

103

Year

Jan.

Feb.

Mar.
Apr.
320c. Chance in c

Monthly
May
July
i prict indextarel urban
[Annual rate, percent]
7.5
7.9
8.6
6.7
7.5
4.2
-1.8
-1.3
-2.2
5.1
6.0
7.2
.2
1.1
2.0
1.9
2.0
1.6
1.9
1.9
2.1
-.9
-1.0
-1.1
-.6
.3
.3
3.3
3.4
4.3
3.6
3.4
2.6
1.7
-.2
.2
1.2
2.4
1.9
1.3
1.3
1.4
1.1
1.0
.6
1.0
1.6
1.1
1.7
1.4
1.7
1.1
.8
.9
1.8
2.0
1.7
3.5
3.5
3.6
3.1
3.9
3.9
4.5
4.7
5.1
6.2
5.8
5.6
5.0
5.1
5.1
4.1
4.0
3.7
2.6
3.2
3.6
9.7
8.5
8.9
11.3
11.9
12.7
6.3
6.9
7.6
4.8
5.7
6.2
6.2
6.0
5.5
10.1
9.4
9.8
13.8
13.2
13.5
10.1
10.9
9.7
10.5
10.1
10.6
7.2
6.6
6.9
price index for al urban
[1967=100}

Quarterly
Aug.

Sept.

Oct.

Nov.

MO

Pec.

WO

10.4
1.3
-1.8
7.2
2.5
1.5
1.2
-1.3
.7
3.6
3.0
0
2.2
1.5
1.0
1.0
1.9
1.4
1.7
3.3
4.3
5.3
6.2
4.9
3.3
3.9
9.3
12.5
8.3
6.1
6.0
9.9
13.8
10.1
9.6
5.1

12.4
-1.0
-2.7
9.4
4.1
1.3
.7
-1.4
1.0
3.6
2.5
.3
1.9
1.5
1.2
1.2
1.8
1.5
1.6
3.2
4.1
5.1
6.1
5.2
3.2
4.0
9.8
12.5
8.0
6.1
5.9
9.2
14.1
10.1
8.8
2.3

13.5
-3.3
-1.6
11.3
4.2
-.3
1.2
-.9
.5
2.8
3.2
.8
1.6
1.9
.7
1.4
1.6
1.6
1.8
3.1
4.2
4.7
6.3
5.0
3.0
4.4
11.8
12.4
6.8
6.2
6.2
9.5
14.7
11.6
6.9
1.4

11.5
-4.2
-.8
14.0
4.4
-.6
1.0
-.4
1.1
3.6
2.9
.4
1.7
1.7
1.1
1.3
1.1
1.6
3.4
2.3
4.2
4.8
6.4
4.7
3.3
5.2
10.5
10.8
6.4
7.1
6.4
10.4
14.8
11.6
5.3
.4

5.8
-3.7
-1.0
13.1
2.8
0
.3
0
.3
3.8
4.0
.4
1.1
1.5
1.3
.6
1.4
1.4
3.5
1.6
4.0
5.6
6.2
4.0
3.1
6.1
12.0
8.9
5.3
7.0
7.0
10.6
15.7
11.4
3.1
.5

7.6
-2.1
1.0
10.4
1.4
.2
.2
.1
1.3
3.4
3.8
.8
1.4
.3
1.5
1.0
1.2
1.9
3.8
1.7
4.2
5.6
6.2
3.7
3.0
7.4
11.7
6.8
4.0
7.5
8.2
11.7
15.0
9.5
4.1

69.7
78.2
72.8
75.1
82.0
84.7
82.7
83.3

70.8
77.9
72.9
75.6
81.7
84.9
83.1
83.1

72.8
77.3
73.5
75.7
82.0
84.3
83.3
82.3

73.1
76.7
72.8
76.4
83.3
84.4
83.4
82.0

73.8
75.3
72.9
76.6
84.0
84.4
82.4
81.9

75.5
74.8
72.0
79.0
84.9
84.0
82.9
81.7

68.1
75.6
74.3
72.0
82.6
84.2
83.1
83.5

77.0
74.2
73.0
82.7
84.2
82.8
83.2

71.1
77.8
73.1
75.5
81.9
84.6
83.0
82.9

74.1
75.6
72.6
77.3
84.1
84.3
82.9
81.9

70.6
76.6
73.5
74.5
82.8
84.3
83.0
82.8

81.3
82.5
84.8
88.9
87.0
88.1
88.7
89.6
91.1
92.2

81.4
83.4
85.4
88.5
86.9
87.8
89.0
89.3
91.5
92.3

81.1
82.6
86.3
88.4
86.8

81.7
82.8
85.8
88.1
87.0
88.2

89.7
91.6
92.2

90.7
91.2
92.8

81.4
83.1
85.6
87.9
87.1
89.0
89.0
90.5
91.1
92.8

81.0
83.4
85.6
88.1
87.0
89.4
88.8
90.7
91.5
93.1

81.0
83.5
85.7
87.7
86.9
89.6
88.8
90.1
91.8
93.1

82.0
80.7
83.8
88.2
87.4
86.8
89.4
89.6
91.1
92.0

81.8
81.8
84.3
89.4
86.7
88.1
89.0
89.8
90.8
92.1

81.4
82.9
85.8
88.3
86.9
88.0
88.9
89.9
91.4
92.4

81.1
83.3
85.6
87.9
87.0
89.3
88.9
90.4
91.5
93.0

81.6
82.2
84.9
88.5
87.1
88.0
89.1
89.9
91.2
92.4

94.1
98.9
98.9
103.1
107.5
115.0
118.2
122.5
138.3
160.0

95.6
98.8
99.7
103.2
108.7
115.0
118.9
122.8
139.7
159.9

95.5
98.4
100.1
103.6
109.3
115.1
119.1
123.5
140.0
159.4

95.0
99.8
100.6
103.9
109.9
115.1
119.2
123.7
148.3
161.6

94.9
100.1
100.6
104.5
110.7
115.7
119.1
124.8
148.0
164.9

95.3
100.4
100.8
105.4
110.9
116.0
119.5
125.5
148.9
166.7

95.6
100.2
101.1
105.4
112.0
115.8
119.9
126.2
150.8
168.8

96.2
99.9
101.4
105.7
113.3
116.0
121.1
126.9
152.2
170.7

92.7
98.1
99.3
102.0
106.0
114.0
116.2
121.7
131.4
156.8

94.3
99.0
99.1
103.0
107.7
114.8
118.3
122.5
138.1
159.5

95.1
99.4
100.4
104.0
110.0
115.3
119.1
124.0
145.4
162.0

95.7
100.2
101.1
105.5
112.1
115.9
120.2
126.2
150.6
168.7

94.4
99.1
100.0
103.6
108.9
114.9
118.4
123.5
141.4
161.7

171.8
179.4
191.6
210.2
234.2
250.2
272.4
285.4

173.6
179.8
192.9
213.3
234.8
251.4
272.9
287.1

176.9
180.6
193.4
214.3
236.1
254.0
275.3
287.6

176.9
181.3
194.2
215.0
235.8
258.2
276.9
286.9

178.2
182.2
194.8
216.0
237.4
261.2
278.0
287.5

179.8
183.0
195.3
217.7
239.2
263.4
278.7
288.1

181.0
182.9
197.0
219.2
240.7
266.2
278.9
288.2

182.1
183.3
197.7
220.5
243.0
267.9
279.4
288.1

171.6
180.0
186.6
201.5
227.3
245.1
270.4
282.2

172.2
179.3
191.8
210.2
233.6
250.1
272.5
285.3

177.3
181.4
194.1
215.1
236.4
257.8
276.7
287.3

181.0
183.1
196.7
219.1
241.0
265.8
279.0
288.1

175.4
180.8
192.2
211.4
234.5
254.6
274.6
285.7

0.4
-.8
-1.0
.9
1.6
.1
.1
-.4

1.0
-1.8
.1
.3
.8
0
-1.2
-.1

2.3
-.7
-1.2
3.1
1.1
-.5
.6
-.2

0
-.4

1.2
-1.1
-.7
1.4
1.2
-.1
-.2
-.2

-0.1
-.3
.8
.6
-.1
-.1
-.1

-.4
.4
-.2
-.2
.1
.9
.2
-.2
-.1
0

-.5
.4
0
.2
-.1
.4
-.2
.2
.4
.3

0
.1
.1
-.5

.4
.3
.2
.9
.2
.3
.3
.6
.6
1.1
.9
.4
.3

1947
1948
1949
1950
1951
1952
1953
1954
1955
1956
1957
1958
1959
1960
1961
1962
1963
1964
1965
1966
1967
1968
1969
1970
1971
1972
1973
1974
1975
1976
1977
1978
1979
1980
1981
1982

8.1
-3.2
0
12.0
2.3
-.1
-.6
5
7
3.3
4.5
6
1.4
5
1.7
7
1.4
1.7
4.0
1.2
4.2
5.6
6.6
3.6
3.1
6.9
11.3
7.7
4.4
7.4
7.7
10.7
15.4
9.9
2.9

8.3
-2.1
.6
11.5
1.3
.2
.6
0
1.2
3.5
3.7
.6
1.5
.3
1.7
.7
1.2
1.8
3.9
1.6
4.0
5.3
6.3
3.7
3.1
7.4
11.8
6.5
3.9
7.5
8.1
11.6
15.0
9.6
4.0

6.5
-.9
2.4
7.8
.5
.6
.5
-.2
2.1
3.5
3.2
1.1
1.4
.1
1.2
1.5
.9
2.3
3.4
2.2
4.4
5.9
5.7
3.7
2.8
7.8
12.0
6.1
3.8
7.6
8.9
12.7
14.7
9.1
5.5

7.1
6.2
-2.5
4.7
4.2
1.7
1.1
-.5
0
3.5
3.8
1.8
.9
1.3
.7
1.3
1.7
.5
2.0
3.6
2.7
4.6
6.3
5.4
3.9
2.9
7.2
11.3
6.7
4.1
7.3
9.1
13.2
11.8
10.0
6.1
322.

1947
1948
1949
1950
1951
1952
1953
1954
1955
1956
1957
1958
1959
1960
1961
1962
1963
1964
1965
1966
1967
1968
1969
1970
1971
1972
1973
1974
1975
1976
1977
1978
1979
1980
1981
1982

67T"
76.5
74.6
71.4
80.9
84.8
83.4
83.5
81.6
80.7
83.4
87.4
87.9
86.8
89.4
89.2
91.1
92.0
92.7
96.8
99.5
101.6
105.9
113.6
115.7
120.7
129.0
154.1
171.5
181.5
183.9
199.2
224.1
244.1
268.9
281.3

67.7
76.0
74.2
72.4
83.7
84.0
83.0
83.6
82.2
80.6
84.2
87.8
87.4
86.7
89.5
89.6
91.2
92.0

69.7
74.3
74.2
72.3
83.2
83.7
83.0
83.3

69.0
76.2
74.3
72.3
82.8
84.3
82.5
83.2

68.7
77.2
74.0
72.9
83.0
84.2
82.6
83.3

69.1
77.7
74.2
73.7
82.3
84.0
83.3
83.2

82.3
80.8
83.9
89.5
87.0
86.9
89.4
89.9
91.0
92.0

82.3
81.1
84.0
89.8
86.7
88.1
89.2
90.0
90.6
92.0

81.8
81.7
84.2
89.4
86.5
88.1
89.0
89.9
90.8
92.0

92.5
98.3
99.3
102.0
105.9
114.2
116.0
122.3
131.0
157.4

92.9
99.1
99.2
102.4
106.3
114.2
116.9
122.2
134.3
159.0

93.3
99.2
98.8
102.7
106.9
114.5
117.7
122.2
136.4
158.7

171.7
179.8
187.5
201.4
227.7
244.3
270.3
282.6

171.5
178.7
188.5
203.9
230.0
247.0
272.0
282.8

171.2
178.7
190.8
207.1
231.9
248.6
272.3
283.3

322c. Change in consumer price index for al urban consumers, food, over 1-month spans4
[Percent]

1947
1948
1949
1950
1951
1952
1953
1954
1955
1956
1957
1958
1959
1960
1961
1962
1963
1964
1965
1966
1967
1968
1969
1970
1971
1972
1973
1974
1975
1976
1977
1978
1979
1980
1981
.1982

1.3
-.3
-.8
2.4
-.1
-.7
7
-.1
-.4
-.1
2.0
2
-.1
-.2
5
1.1
2
-.4
6
-.4
2
2
3
-.3
-.3
1.7
1.2
5
-.3
3
8
1.6
.5
4
7

104



IVQ

Average for period
10.5
7.5
1.5
6.8
-2.2
-1.9
7.9
5.3
2.9
1.8
1.5
1.9
1.3
1.6
-.8
-1.3
.7
-.1
3.8
3.4
2.7
3.6
1.2
0
1.3
2.2
1.3
1.4
1.1
.8
1.1
1.3
1.6
1.8
.7
1.3
1.7
1.9
3.4
3.5
4.1
3.2
5.2
4.6
6.0
6.1
5.1
5.2
3.4
4.0
3.8
2.9
9.3
8.5
12.6
11.5
8.0
6.6
6.1
4.9
5.8
6.5
9.7
9.4
13.9
13.3
10.1
10.8
9.6
10.2
4.9
6.5

1.0
.7
-.5
1.4
3.5
-.9
-.5
.1

3.0
-2.2
0
-.1
-.6
-.4
0
-.4

-1.0
2.6
.1
0
-.5
.7
-.6
-.1

-0.4
1.3
-.4
.8
.2
-.1
.1
.1

0.6
.6
.3
1.1

.7
-.1
1.0
.5
-.6
-.1
.1
.4
.1
0

.1
.2
-.4
1.9
-.5
.2
-.1
.3
-.2
0

0
.4
.1
.3
-.3
1.4
-.2
.1
-.4
0

-.6
.7
.2
-.4
-.2
0
-.2
-.1
.2
0

-.2
1.5
-.2
.4
0
.5
.3
1.3
1.6
2.1

-.1
.4
.4
0
.8
-.1
2.5
1.0

.4
.1
-.4
.3
.6
.3
.7
0
1.6
-.2

.1
-.9
2.0
1.1
1.6
.1
.5
.5

-.1
-.6
.5
1.2
1.0
1.1
.6
.1

-.2
0
1.2
1.6
.8
.6
.1
.2

2.8

0.9
.6
-1.9
1.9
-.4
.8
-.7
.1

1.6
-.4
.1
.7
-.4
.2
.5
-.2

-.6
1.0
.7
-.6
.6
0
-.3
-.3
.3
.2

.1
1.1
.7
-.4
-.1
-.3
.3
-.3
.4
.1

-.4
-1.0
1.1
-.1
-.1
.3
-.2
.4
.1
-.1

.9
-.3
.1
.4
.6
.4
.4
.2
1.4
.8

1.6
-.1
.8
.1
1.1
0
.6
.2
1.0
-.1

-.1
-.4
.4
.4
.6
.1
.2
.6
.2
-.3

-.5
1.4
.5
.3
.5
0
.1
.2
5.9
1.4

0
.6
.7
.5
-.1
.9
-.2
2.0

.4
.4
.4
1.5
1.0
.6
0
.7

1.0
.2
.7
1.5
.3
.5
.2
.6

1.9
.4
.3
.5
.6
1.0
.9
.2

0
.4
.4
.3
-.1
1.7
.6
-.2

.7
.5
.3
.5
.7
1.2
.4
.2

.1
.4
-.7
.2
-1.0
.7
.2
-.6
-.3
.2
.1
0

10.3
-3.7
-1.1
12.8
3.8
-.3
.6
3.4
3.4
.5
1.5
1.7
1.0
1.1
1.4
1.5
2.9
2.3
4.1
5.0
6.3
4.6
3.1
5.2
11.4
10.7
6.2
6.8
6.5
10.2
15.1
11.5
5.1

3.0
-1.8
6.8
4.7
1.1
1.0
-.6
.3
3.0
3.3
1.4
1.4
1.5
.8
1.3
1.4
1.2
2.1
3.2
3.3
4.8
6.0
5.2
3.6
3.7
9.2
11.6
6.9
5.4
6.6
9.4
13.5
11.9
8.6
4.1

Average for period
-0.5
-.3
.2
1.8
-.5
-.4
.1

-0.3
1.5
0
.6
-.4
.1

1.8
-.2
-.3
.9
-.1

.2
0
-.7
.3
0

.2
-.1
.2
1.5
-.3
0
-.1
.4
.3
.1

-.4
.7
.3
-.2
0
.5
-.2
-.1
0
.1

.1
.1
.4
-.3
0
0
0
.4
0
.2

-.3
.3
0
-.2
0
.5
0
-.2
.2
.1

-.1
.2
.2
.2
-.1
.2
-.1

.3
-.2
.3
0
1.0
-.2
.3
.6
1.3
1.3

.6
-.3
.3
.3
1.2
.2
1.0
.6
.9
1.1

-.1
1.0
-.2
.3
.2
.3
.3
.3
1.9
1.4

1.0
-.1
.2
.3

.1
1.3
.2

-.2
.4
.3
.4
.6
.2
.1
.6
2.0
1.0

.4
-.1
.3
.4
.8
.1
.5
.6
.91.2

.3
.3
.1
.4
.6
.2
.4
.4
1.5
1.0

.7
-.1
.9
.7
.6
1.1
.1
0

.6
.2
.4
.6
1.0
.6
.2
0

.2
-.6
.9
1.0
1.4
.6
.5
.4

.4
.2
.8
1.5
.7
.6
.1
.5

.9
.4
.3
.4
.4
1.3
.6
.1

.7
.2
.5
.7
.8
.8
.2
.1

.5
0
.6
.9

.2
.1

Quarterly

Monthly
Year

Jan.

Feb.

Mar.

JBL

322c. Change in c

Mil-

June

July

Aug.

Sept.

Oct.

Nov.

Dec.

| IQ

IIQ

III0

r price index for al urban consumers, food,over 6-month spans4
[Annual rate, percent]

IV0

Annual

1947
1948
1949
1950
1951
1952
1953
1954

8.7
-6.2
-1.4
17.5
2.4
-4.5
-.5

9.4
-3.4
0
17.4
.5
-4.2
2.2

5.9
-1.6
4.8
8.5
-2.1
-1.7
.7

8.2
4.5
-4.8
10.6
2.7
-.2
-1.7
-.5

9.4
5.1
-3.5
9.0
-4.7
2.2
.2
-1.2

9.1
8.2
-1.9
9.6
-2.9
1.4
.7
-2.4

12.2
1.3
-4.0
11.7
1.2
.2
2.2
-2.9

15.4
-4.9
-3.0
10.4
2.4
.5
-.5
-3.3

19.4
-7.3
-5.8
14.9
6.4
0
-1.0
-3.6

20.5
-9.0
-3.8
16.0
6.9
-3.0
1.9
-4.0

15.2
-9.3
-1.4
22.6
5.7
-4.4
1.2
-2.2

4.2
-7.9
-3.2
20.8
4.2
-3.1
0
0

8.0
-3.7
1.1
14.5
.3
-3.5
.8

8.9
5.9
-3.4
9.7
-1.6
1.1
-.3
-1.4

Average for period
15.7
-3.6
-4.3
12.3
3.3
.2
.2
-3.3

13.3
-8.7
-2.8
19.8
5.6
-3.5
1.0
-2.1

0.4
-3.5
10.8
5.4
-.5
-.6
-1.5

1955
1956
1957
1958
1959
1960
1961...
1962.
1963
1964

7
-.7
2.2
10.1
-2.7
2.3
4
2.3
2
2.0

-.2
1.7
1.9
9.1
-3.6
2.5
-.9
2.5
.2
1.1

-1.0
3.7
3.1
7.6
-1.6
2.8
-2.0
1.8
2.2
.9

-.5
6.8
4.9
2.5
-2.3
2.3
-.9
.2
.9
.7

-2.7
5.0
5.1
1.4
-1.4
3.3
-1.6
.2
.9
.4

-1.5
5.0
4.6
-3.1
0
3.0
-1.3
1.8
.4
1.7

-2.2
5.0
3.8
-4.2
.9
2.1
-.4
1.1
1.1
1.7

-1.9
4.2
3.4
-2.9
1.2
3.0
-.4
1.8
1.5
2.4

-.7
2.4
2.1
-2.7
-.2
3.4
.2
1.1
1.5
2.0

-1.7
0
4.7
-1.4
-.2
3.7
.4
4.1
1.1
.9

-1.2
3.9
3.5
-2.2
-.2
3.2
1.8
3.4
.9
.7

-2.2
2.7
8.8
-2.5
-.2
2.7
2.5
.7
1.8
.2

-.2
1.6
2.4
8.9
-2.6
2.5
-.8
2.2
.9
1.3

-1.6
5.6
4.9
.3
-1.2
2.9
-1.3
.7
.7
.9

-1.6
3.9
3.1
-3.3
.6
2.8
-.2
1.3
1.4
2.0

-1.7
2.2
5.7
-2.0
-.2
3.2
1.6
2.7
1.3
.6

-1.3
3.3
4.0
1.0
-.9
2.9
-.2
1.8
1.1
1.2

1965
1966
1967
1968
1969
1970
1971
1972
1973
1974

1.1
8.4
-3.2
3.8
2.9
6.6
3.0
4.6
18.1
13.6

2.2
7.0
-2.6
4.0
4.0
5.4
4.2
4.4
20.1
12.6

5.4
5.5
-.4
3.6
5.8
3.0
5.1
2.8
21.2
10.4

6.1
3.3
1.2
4.0
6.5
2.7
6.0
4.7
17.8
7.0

5.5
3.1
2.6
3.8
7.7
1.6
5.6
2.3
28.2
5.4

4.4
2.0
2.8
4.1
8.4
2.6
3.8
4.3
21.4
7.6

4.3
2.4
4.1
5.3
7.6
2.6
3.1
5.5
19.2
10.3

3.2
2.6
4.5
4.5
8.5
1.4
2.9
6.1
18.9
11.3

1.3
2.2
3.4
4.9
8.6
1.7
3.7
6.8
18.7
14.0

2.7
2.2
3.0
4.5
8.0
1.0
2.7
9.1
21.2
15.8

7.1
-1.0
2.8
3.9
8.0
1.6
5.3
12.2
12.6
12.9

9.0
-1.8
3.6
3.5
6.4
2.1
5.3
15.8
15.4
8.2

2.9
7.0
-2.1
3.8
4.2
5.0
4.1
3.9
19.8
12.2

5.3
2.8
2.2
4.0
7.5
2.3
5.1
3.8
22.5
6.7

2.9
2.4
4.0
4.9
8.2
1.9
3.2
6.1
18.9
11.9

6.3
-.2
3.1
4.0
7.5
1.6
4.4
12.4
16.4
12.3

4.4
3.0
1.8
4.2
6.9
2.7
4.2
6.6
19.4
10.8

1975
1976
1977
1978
1979
1980
1981
1982

5.5
-1.2
8.7
12.4
13.5
8.0
6.9
3.3

3.6
-1.8
9.7
13.8
14.2
8.0
4.7
4.7

3.4
-2.5
10.7
16.4
13.4
7.0
3.8
5.6

6.4
-1.0
10.6
15.7
11.0
8.3
4.8
4.5

11.0
3.9
5.7
8.7
5.6
13.2
4.8
2.0

10.0
3.9
5.0
6.9
7.1
13.6
4.8
.7

5.3
3.7
6.1
9.4
6.9
12.1
4.4
.5

3.3
7.0
7.6
12.2
7.3
9.6
4.2
1.0

.6
7.0
9.6
13.4
8.3
8.4
3.5
1.8

4.2
-1.8
9.7
14.2
13.7
7.7
5.1
4.5

6.8
1.6
8.2
14.0
8.2
10.6
4.7
3.7

10.4
4.2
5.2
8.7
6.4
13.0
4.8
2.0

3.1
5.9
7.8
11.7
7.5
10.0
4.0
1.1

6.1
2.5
7.7
12.1
9.0
10.3
4.7
2.8

1947
1948
1949
1950
1951
1952
1953
1954

7l2~
82.9
81.6
77.6
91.2
89.7
87.2
88.0

73.9
81.3
80.3
78.0
92.5
89.3
87.0
87.7

75.7
81.3
80.1
78.1
92.5
89.2
87.3
87.7

10.3
6.1
8.0
4.9
1.7
4.0
4.8
7.3
6.8
12.2
10.5
14.0
6.5
6.4
7.2
11.8
12.3
11.7
4.5
4.8
4.9
3.4
3.4
3.1
330. Producer price index, al commodities <g>
[1967=100]
75.6
75.2
74.8
74.8
83.7
82.0
83.0
82.4
77.8
79.3
77.9
78.6
81.7
78.1
79.5
79.1
90.7
92.3
91.3
92.0
88.7
88.7
88.2
88.6
88.0
86.9
87.2
87.7
87.3
88.0

76.6
84.3
77.9
83.5
90.2
89.1
87.7
87.7

78.1
84.2
78.0
85.0
90.0
88.7
88.1
87.3

79.1
83.3
77.7
85.5
90.2
88.2
87.5
87.1

79.9
83.1
77.7
86.7
90.2
87.8
87.2
87.3

81.4
82.6
77.6
89.0
90.1
87.0
87.4
86.9

74.3
81.8
80.7
77.9
92.1
89.4
87.2
87.8

74.9
82.5
78.6
78.9
91.9
88.5
87.0
87.8

Average for period
76.8
84.1
77.9
83.4
90.3
88.8
87.9
87.6

10.1
83.0
77.7
87.1
90.2
87.7
87.4
87.1

76.5
82.8
78.7
81.8
91.1
88.6
87.4
87.6

1955
1956
1957
1958
1959
1960
1961
1962
1963
1964

87.4
88.8
92.7
94.3
94.8
94.7
95.2
95.0
94.7
95.2

87.7
89.2
92.8
94.4
94.8
94.7
95.2
94.9
94.4
94.7

87.3
89.5
92.7
95.0
94.9
95.2
95.2
94.9
94.2
94.6

87.7
90.2
93.0
94.7
95.2
95.2
94.7
94.6
94.0
94.5

87.2
90.8
92.9
94.8
95.2
95.0
94.3
94.4
94.3
94.3

87.6
90.7
93.2
94.6
95.0
94.8
93.8
94.3
94.5
94.3

87.7
90.5
93.8
94.6
94.8
95.0
94.2
94.6
94.8
94.6

88.0
91.0
94.0
94.5
94.5
94.6
94.3
94.7
94.6
94.5

88.7
91.7
93.7
94.5
95.0
94.6
94.3
95.4
94.5
94.9

88.6
91.7
93.5
94.4
94.5
94.9
94.3
94.8
94.7
95.0

88.2
92.0
93.7
94.6
94.3
94.9
94.3
94.9
94.9
94.9

88.3
92.3
94.1
94.6
94.3
94.8
94.6
94.6
94.5
94.9

87.5
89.2
92.7
94.6
94.8
94.9
95.2
94.9
94.4
94.8

87.5
90.6
93.0
94.7
95.1
95.0
94.3
94.4
94.3
94.4

88.1
91.1
93.8
94.5
94.8
94.7
94.3
94.9
94.6
94.7

88.4
92.0
93.8
94.5
94.4
94.9
94.4
94.8
94.7
94.9

87.8
90.7
93.3
94.6
94.8
94.9
94.5
94.8
94.5
94.7

1965
1966
1967
1968
1969
1970
1971
1972
1973
1974

95.2
98.6
100.1
101.1
104.3
109.3
111.8
116.3
124.5
146.6

95.4
99.3
99.9
101.9
104.8
109.7
112.8
117.3
126.9
149.5

95.5
99.3
99.6
102.1
105.4
109.9
113.1
117.4
129.8
151.4

95.9
99.4
99.2
102.1
105.5
110.0
113.4
117.5
130.5
152.7

96.2
99.5
99.7
102.4
106.3
110.0
113.9
118.2
133.2
155.0

96.9
99.6
100.2
102.5
106.8
110.4
114.4
118.8
136.0
155.7

97.0
100.3
100.3
102.8
107.0
110.9
114.7
119.7
134.3
161.7

97.0
100.7
100.0
102.5
106.9
110.4
115.1
119.9
142.1
167.4

97.1
100.7
100.1
102.9
107.1
111.0
114.6
120.2
139.7
167.2

97.2
100.1
100.1
102.9
107.4
110.9
114.5
120.0
138.7
170.2

97.5
99.8
100.1
103.3
108.1
110.9
114.6
120.7
139.2
171.9

98.1
99.8
100.8
103.6
108.6
111.0
115.6
122.9
141.8
171.5

95.4
99.1
99.9
101.7
104.8
109.6
112.6
117.0
127.1
149.2

96.3
99.5
99.7
102.3
106.2
110.1
113.9
118.2
133.2
154.5

97.0
100.6
100.1
102.7
107.0
110.8
114.8
119.9
138.7
165.4

97.6
99.9
100.3
103.3
108.0
110.9
114.9
121.2
139.9
171.2

96.6
99.8
100.0
102.5
106.5
110.4
114.0
119.1
134.7
160.1

1975
1976
1977
1978
1979
1980
1981
1982

171.8
179.4
188.1
200.1
220.8
254.9
284.8
298.3

171.3
179.4
190.2
202.1
224.1
260.2
287.6
298.6

170.4
179.7
192.0
203.7
226.7
261.9
290.3
298.0

172.1
181.3
194.3
206.5
230.0
262.8
293.4
298.0

173.2
181.9
195.2
208.0
232.0
264.2
294.1
298.6

173.7
183.2
194.5
209.6
233.5
265.6
294.8
299.3

175.7
184.4
194.8
210.7
236.9
270.4
296.2
300.4

176.7
183.8
194.6
210.6
238.3
273.8
296.4
300.2

177.7
184.8
195.3
212.4
242.0
274.6
295.7
299.3

178.9
185.3
196.3
214.9
245.6
277.8
296.1
299.8

178.2
185.6
197.1
215.7
247.2
279.1
295.5
300.3

178.7
187.1
198.2
217.5
249.7
280.8
295.8
300.7

171.2
179.5
190.1
202.0
223.9
259.0
287.6
298.3

173.0
182.1
194.7
208.0
231.8
264.2
294.1
298.6

176.7
184.3
194.9
211.2
239.1
272.9
296.1
300.0

178.6
186.0
197.2
216.0
247.5
279.2
295.8
300.3

174.9
183.0
194.2
209.3
235.6
268.8
293.4
299.3

1.0
-1.9
-1.6
.5
1.4
-.4
-.2
-.3

2.4
0
-.2
.1
0
-.1
.3
0

-0.7
.9
-1.0
0
-.2
-.6
-.6
.5

-0.5
.5
-.9
1.3
-.3
-.1
.5
-.1

1.1
.8
-.1
2.8
-.7
.6
1.3
.5

1.3
.7
.1
2.2
-.6
.5
-.3
0

2.0
-.1
.1
1.8
-.2
-.4
.5
-.5

1.3
-1.1
-.4
.6
.2
-.6
-.7
-.2

1.0
-.2
0
1.4
0
-.5
-.3
.2

1.9
-.6
-.1
2.7
-.1
-.9
.2
-.5

1.4
0
-1.0
.2
1.3
-.3
.1
.1

-0.4
.7
-.9
.6
-.4
-.4
-.1
-.1

1.5
.5
0
2.3
-.5
.2
.5
0

1.4
-.6
-.2
1.6
0
-.7
-.3
-.2

-15
1.2
.1
-.3
0
0

.3
.5
.1
.1
0
0
0

-.5
.3
-.1
.6
.1
.5
0
0
-.2
-.1

.3
-.3
.3
0
-.5
-.3
-.2
-.1

-.6
.7
-.1
.1
0
-.2
-.4
-.2
.3
-.2

.1
-.2
.6
0
-.2
.2
.4
.3
.3
.3

.3
.6
.2
-.1
-.3
-.4
.1
.1
-.2
-.1

-.3
0
.5
0
0
.7
-.1
.4

-.1
0
-.2
-.1
-.5
.3
0
-.6
.2
.1

-.5
.3
.2
.2
-.2
0
0
.1
.2
-.1

.1
.3
.4
0
0
-.1
.3
-.3
-.4
0

.1
.5
.1
.3
.1
.3
.1
.1
-.1
0

.1
.5
.2
-.1
0
-.5
-.2
.1
-.1

.4
.4
.2
0
0
-.1
.2
.4
0
.2

-.2
.2
.1
0
-.2
.1
.1
-.3
0
0

.1
.4
.2
0
0
0
0
0
0
0

.4
.1
-.4
0
.1
.1
.3
.1
.5
.9

.3
.1
.5
.3
.8
0
.4
.6
2.1
1.5

.7
.1
.5
.1
.5
.4
.4
.5
2.1
.5

.1
.7
.1
.3
.2
.5
.3
.8
-1.3
3.9

0
.4
-.3
-.3
-.1
-.5
.3
.2
5.8
3.5

.1
0
.1
.4
.2
.5
-.4
.3
-1.7
-.1

.1
-.6
0
0
.3
-.1
-.1
-.2
-.7
1.8

.3
-.3
0
.4
.7
0
.1
.6
.4
1.0

.6
0
.7
.3
.5
.1
.9
1.8
1.9
-.2

.2
.4
-.1
.4
.6
.4
.6
.5
1.8
2.2

.5
.1
.2

.4
0

.2
.4
.4
1.6
1.0

.1
.2
.1
.4
.9
2.4

.3
-.3
.2
.2
.5
0
.3
.7
.5
.9

.3
.1
.1
.2
.4
.2
.3
.5
1.2
1.6

1.0
.9
1.2
1.4
1.5
.3
1.1
0

.6
.3
.5
.7
.9
.5
.2
.2

.3
.7
-.4
.8
.6
.5
.2
.2

1.2
.7
.2
.5
1.5
1.8
.5
.4

.6
-.3
-.1
0
.6
1.3
.1
-.1

.6
.5
.4
.9
1.6
.3
-.2
-.3

.7
.3
.5
1.2
1.5
1.2

-.4
.2
.4
.4
.7
.5
-.2
.2

.3
.8
.6
.8
1.0
.6
.1
.1

-.2
.2
.8
.9
1.4
1.6
1.1
.2

.2
.4
.5
.8
1.1
.8
0
.2

.4
.4
.5
.8
1.2
1.0
.4
.1

330c. Change in producer price index, al commodities, over 1-month spans <§>'
[Percent]

1947
1948
1949
1950
1951
1952
1953
1954

bX
1.8
-1.2
0
2.5
-.4
2
7

1955
1956
1957
1958
1959
1960
1961
1962
1963
1964

6
6
4
2
2
4
4
4
1
7

1965
1966
1967
1968
1969
1970
1971
1972
1973
1974

3
5
3
3
7
6
7
6
1.3
3.4

1.9
2.0

.1
0
-.3
.2
.6
.2
.3
.1
2.3
1.3

1975
1976
1977
1978
1979
1980
1981
1982

2
4
5
1.0
1.5
2.1
1.4
8

0
1.1
1.0
1.5
2.1
1.0
.1

-.5
.2
.9
.8
1.2
.7
.9
-.2

See footnotes at end of this part.




Average for period

.6
.6
.4
1.0
1.0
.4
.5

.8
.3
.2
.5
1.2
1.1

1.0

105

Year

1947
1948
1949
1950
1951
1952
1953
1954
1955
1956
1957
1958
1959
1960
1961
1962
1963
1964
1965
1966
1967
1968
1969
1970
1971
1972
1973
1974
1975
1976
1977
1978
1979
1980
1981
1982

Jan.

Feb.

Mar.

May

Apr.

Monthly
June
July

Aug.

Sept.

330c. Change in producer price index, al commodities, over 6-^nonth spans®*
[Annual rate, percentj
6.7
7.4
6.4
10.6
5.9
14.1

7.5

7.6
6.4

4.0

1.9

7.5

7.3

3.2

1.7

-9.4

-10.5

-11.1

1.0

3.6

16.5
-3.3
-3.1

12.6
-3.5
-1.4

5.0
5.2

-5.9
14.6
-4.9

-4.2

-9.1
10.8
-1.1
-2.2

-4.0
19.8
-4.5
-1.1

-2.3
20.1
-3.9
-1.8

-2.3

1.4
3.6
2.9
2.6
1.7
1.5
-.4
.6

-.2
6.0
2.0
2.4
1.3
1.5

1.6
5.5
2.0
1.1
.8
1.1

.7
3.9
2.4
.6
0
.6

1.8
-.9
3.2
5.0
2.2

0

1.8

1.8
-.7

1.6

1.4

-.2
-.2

-.4
1.6
0
.7
4.1
2.6
.2
-.6
-.2

-5.2
18.5
-5.3
-1.1

-1.3

-2.1

-2.1

-1.9

.2
-1.3
-1.3

-.6
-.2
-.4

-.8
.2
-1.3

-.4
.4
-.4

4.0
5.1
4.9
4.6
5.3

2.8
4.1
-.2
4.6
5.9
3.5
5.5
6.4

4.3
3.1
.8
3.4
6.3
3.3
6.2
5.6

3.8
3.5
.4
3.4
5.2
2.9
5.3
5.9

3.4
2.8
.2
1.2
4.0
1.3
4.1
4.5

1.1
.6
.6
3.4
2.8
1.0
1.6
3.3
2.0
2.7
4.8

18.3
21.2

21.8
24.0

22.5
20.6

16.4
21.7

25.4
25.4

15.8
22.0

1.5
4.2

6.4
5.0
4.7
8.6

18.1

-1.7

-.4
1.9
4.6
-1.8

Oct.

Dec.

Nov.

Quarterly
IIQ
III Q

10

Annual

iv o

Average for period

8.4

18.4
-1.0

20.2
-5.0

12.6
-9.3

-9.5

-.8

6.0

-.5

.3

.3

-10.3

25.3
-2.6
-2.7

24.6
-2.2
-3.4

22.7
-2.0
-4.7

18.4
-1.8
-3.1

3.2

-1.6

1.2
-.9

0
-.7

0
0

-.9
0

-1.0

2.1
3.4
1.1
-.6

2.3
2.7
1.7
-.4

1.6
3.6
1.9
0

.2

-1.5

-1.9

-1.5

-1.3
-1.9

-.6
-.8
.4
1.5
1.1

-.2
0
1.1
1.3
1.3

0
1.7
.6
0
1.3

2.5
4.9
1.1
.4
-.2
.4
1.7
.2
.8
1.3

2.7
4.0
.9
.6
.4
1.3
1.3
-.6
.2
1.9

1.8
2.2
2.8
.8
.4
1.3

2.7
1.4
1.8
1.6
3.6
1.6
1.9
4.3
13.0
24.2

2.7
.6
.8
1.8
3.4
1.6
1.2
4.3
9.2

2.5
.4
1.2
2.2
3.4
1.1
2.1
7.0
8.7

23.0

21.3

19.2
12.9

8.8
5.8
3.5
8.7

8.1
4.5
2.1
8.3

5.9
4.1
2.0
7.5

5.8
4.3
3.8
7.7

4.3
4.1
5.5
9.8

3.3
-.4
1.6
2.9
4.3
1.6
2.8
8.2

1.3
-2.5

4.8

4.6

-1.6

-2.2
4.0

3.8
4.5
5.3
4.4
3.9

14.4

-6.7
14.6
-3.8
-1.2

-2.4
21.7
-3.7
-1.9

.9

1.0

1.7
-.5

.9
5.0
2.3
2.0
1.3
1.4

1.5
4.3
2.4
-.1
-.1
-.3

-1.3

-2.0

.1
-.7

0
.4
-.4

-.3
.3
.7
.9
1.2

3.0
3.9
-.4
4.0
5.8
3.9
5.4
5.8

3.5
3.0
.5
2.1
4.2
2.1
4.0
5.1

2.6
.8
1.3
1.9
3.5
1.4
1.7
5.2

11.4
-3.7
-1.6

I

.2
1.3

6.8
5.6

10.5

-1.1
|

!

4.9
5.3
3.8
4.9

1.3

-1.6

2.0
3.2
1.6
-.3
-1.6

12.0
10.7

16.6
17.5

4.7

3.9

20.9
21.9

19.2
23.0

10.3
22.8

3.1
7.1
7.9

2.3
7.9
8.8

2.1
4.0
9.5

6.6
5.5
5.2
9.4

6.6
4.3
2.6
7.8

13.7
-7.9

11.4

0

-4.8
15.4

1.2

21.9
-2.0
-3.7

-2.6

-.3
-.2

.2
-.3

2.3
3.7
1.6
.6
.2
1.0
1.4

1.7
4.1
2.0
.6
-.1
.4
-.4
-.1
.2
.4

-1.0

.4
1.5
4.2
-1.4

3.1
4.1
5.0
3.3
3.9
12.3
15.8

.5

3.4
1.6
1.1
3.0
4.6
2.7
3.8
7.1

7.2

16.5
18.7

3.2
6.4
7.4

4.6
5.0
6.2
10.2
15.1
11.9

2.6
5.1
8.1

4.6
5.7
7.3

10.7
14.5
14.5
11.5

10.6
11.4
15.7
14.2
11.0

11.8
15.3
13.1
10.2

10.9
15.1
12.5
8.2

13.1
10.7
6.2

14.0
9.9
3.8

14.0
11.7
1.8

13.5
11.6
1.0

14.4
11.8
.7

15.8
10.9
1.4

13.2
19.2
10.3
1.5

13.9
17.1
11.8
1.6

11.3
15.2
13.9
10.9

14.1
11.0
6.1

14.0
11.7
1.2

12.3
17.4
11.0
1.5

1.3

2.1

2.4

1.4

1.1

.9

1.2

1.1

.9

-.3

.5

.8

1.9

1.1

1.1

.3

4.9
1.1

111.0
99.7
96.3
124.4
113.2
103.7
102.5

97.7
112.6
95.9
100.3
123.1
111.2
101.0
102.1

101.2
113.3
93.6
108.4
115.9
109.9
102.3
99.7

109.5
106.8
94.7
113.5
116.8
106.8
100.4
99.5

101.2
110.9
96.0
104.6
120.1
110.3
101.9
101.0

2.2
2.7
9.9

331. Producer price index, crude materials for further processing

[1967=100]

Average for period

1947
1948
1949
1950
1951
1952
1953
1954

115.9
102.1
94.6
121.8
114.5
104.1
102.5

109.9
99.0
97.4
126.4
113.3
103.4
102.3

107.1
98.1
96.8
125.0
111.7
103.7
102.6

98.2
109.3
96.5
97.3
124.8
111.5
101.0
103.0

97.3
112.9
96.1
100.9
122.9
111.3
101.8
102.6

97.7
115.5
95.0
102.6
121.7
110.7
100.3
100.7

99.2
115.1
93.2
106.4
117.4
110.6
103.4
100.2

100.9
113.5
93.4
108.5
115.6
110.8
101.4
99.9

103.6
111.3
94.2
110.3
114.7
108.2
102.2
99.0

107.4
108.0
94.4
110.3
117.4
107.8
100.3
99.7

108.1
107.0
94.8
113.1
116.3
107.6
99.8
100.3

112.9
105.5
94.8
117.1
116.7
105.1
101.2
98.6

1955
1956
1957
1958
1959
1960
1961
1962
1963
1964

99.3
94.1
100.1
100.3
100.9
97.1
97.1
97.9
96.9
95.1

98.9
95.5
99.0
101.9
100.4
97.2
97.5
97.7
95.7
94.0

98.0
95.1
98.5
103.3
100.6
98.1
96.9
97.4
94.4
94.4

98.8
96.7
98.3
101.8
101.3
98.1
96.5
96.3
95.0
94.3

96.2
98.0
98.0
103.6
100.5
98.3
95.5
96.1
94.7
94.0

98.1
97.4
100.5
102.2
100.0
97.3
94.0
95.7
95.5
92.9

97.2
97.3
102.2
102.6
99.0
97.2
95.0
96.6
95.9
93.4

96.1
99.0
102.4
101.9
98.2
95.2
97.3
97.3
95.5
93.8

97.3
99.1
99.7
101.2
98.8
95.7
96.6
99.7
95.3
96.1

97.0
98.9
99.1
101.8
98.0
96.6
96.9
98.3
95.7
95.3

94.0
99.3
99.5
102.7
97.5
96.5
96.6
98.9
96.5
95.5

94.2
101.0
100.6
101.0
97.0
96.9
97.8
98.0
93.8
95.3

98.7
94.9
99.2
101.8
100.6
97.5
97.2
97.7
95.7
94.5

97.7
97.4
98.9
102.5
100.6
97.9
95.3
96.0
95.1
93.7

96.9
98.5
101.4
101.9
98.7
96.0
96.3
97.9
95.6
94.4

95.1
99.7
99.7
101.8
97.5
96.7
97.1
98.4
95.3
95.4

97.1
97.6
99.8
102.0
99.4
97.0
96.5
97.5
95.4
94.5

1965
1966
1967
1968
1969
1970
1971
1972
1973
1974

94.4
105.5
102.9
100.2
104.0
112.2
111.3
120.6
143.8
202.3

95.6
107.6
100.5
100.5
103.2
112.3
114.6
121.8
150.5
205.5

95.9
107.0
99.2
101.0
104.6
113.6
113.1
121.7
157.4
198.9

97.0
106.4
98.1
101.4
105.8
113.5
115.1
123.7
159.9
193.6

98.5
105.6
99.2
100.7
108.7
111.7
115.0
125.4
167.8
186.1

100.9
105.5
100.2
100.1
110.1
111.8
115.5
126.0
175.6
176.9

99.7
106.7
99.9
101.1
109.0
112.1
114.6
127.9
167.6
190.9

100.6
107.3
100.0
101.3
110.0
111.0
114.4
128.8
204.8
200.8

100.4
106.8
99.6
102.0
109.8
113.4
113.9
129.3
194.4
194.6

101.3
105.1
100.1
102.4
111.1
113.4
116.3
130.7
186.9
202.0

102.5
103.2
99.5
104.8
112.5
112.0
118.3
134.2
188.6
205.0

104.6
102.3
100.6
103.5
112.1
110.3
118.9
140.0
188.9
196.6

95.3
106.7
100.9
100.6
103.9
112.7
113.0
121.4
150.6
202.2

98.8
105.8
99.2
100.7
108.2
112.3
115.2
125.0
167.8
185.5

100.2
106.9
99.8
101.5
109.6
112.2
114.3
128.7
188.9
195.4

102.8
103.5
100.1
103.6
111.9
111.9
117.8
135.0
188.1
201.2

99.3
105.7
100.0
101.6
108.4
112.3
115.1
127.6
174.0
196.1

1975
1976
1977
1978
1979
1980
1981
1982

190.3
201.4
205.5
215.0
255.8
289.5
330.0
320.2

185.0
198.4
209.9
218.4
261.9
295.3
332.6
317.9

182.4
196.6
212.9
223.0
268.2
290.3
330.6
317.0

190.1
204.1
218.1
230.4
271.1
283.1
333.6
320.8

195.4
203.2
216.1
232.6
272.1
286.8
332.4
326.4

196.4
208.3
209.1
238.4
274.2
288.1
335.5
325.8

199.4
207.1
206.8
237.2
276.8
302.9
336.1
322.1

201.3
203.2
204.0
235.4
273.0
317.3
333.0
319.1

206.0
202.6
203.5
240.0
279.9
319.6
327.4
315.4

208.0
201.3
204.5
245.9
282.8
325.6
322.5
314.3

205.6
202.5
208.9
247.2
286.6
329.3
318.1
317.3

204.6
205.9
212.2
249.3
290.6
327.2
315.1
316.6

185.9
198.8
209.4
218.8
262.0
291.7
331.1
318.4

194.0
205.2
214.4
233.8
272.5
286.0
333.8
324.3

202.2
204.3
204.8
237.5
276.6
313.3
332.2
318.9

206.1
203.2
208.5
247.5
286.7
327.4
318.6
316.1

196.9
202.7
209.2
234.4
274.3
304.6
329.0
319.5

3.7

0.7
-.9
.4
2.5
-.9
-.2
-.5
.6

4.4

!

331c. Change in producer price index, crude materials for further processing, over 1-month spans4
[Percent]
1947
1948
1949.
1950
1951
1952
1953
1954
1955
1956
1957
1958
1959
1960
1961
1962
1963
1964

3.3
-.4
3.7

0.4
2.3

1.5
-.3

-1.1

-1.9

1.7

-1.5

-1.0

-.2
.8
-.4

-.5
-1.5
-1.9

-.1
3.1
-.5

-0.9

2.7

-2.5

2.1

-.9
-.6

-1.6

-3.2

-5.2
-3.0

-.2
4.0

3.0
3.8

-1.9
-1.0

-1.0

-1.1
-1.4

-.7
-.2

.3
.3

-2.6

-.4
1.5

-.9
-.4
-.5
1.4
.2
.9
-.6
-.3

.8
1.7
-.2

1.3
.7
-.1
-.9
-.3
-.1
.1
.2
.1
-1.1

1.4

-1.1

1.6
-.5
1
.4
-.2
-1.2
-1.2

-1.4

.4

.5
-.2
-.2
.4

-1.5

.7
0
-.4
-1.1

.6
-.1

-.1
1.4
4.9

.5
1.4
1.2
-.1
4.6

.4
1.1
-.1
1.8
1.6
1.6

-3.2

-2.7

-3.9

-1.4

2.1
1.6
2.4

-.9
1.4
2.1
2.4

4.2
3.8
2.4
3.3
1.1

2.8
-.4
-.9
1.0
.4

-.4
.9

2.0
.8

-1.7
-.6

-2.5
.9

1.6

-.7

-.3

1.2

106



-.3

.9
.6
.1
.2
.9

.3
-.8
.1
3.0
1.0
4.7
1.6

-.2
1.3
2.6

.8
-.9
1.2
.1

-1.2

1.5
-.8
1.1
-.7
2.7

1.1
-.6

-2.8
-1.5

-2.3

2.4
-.1
1.0
-.6
1.3
.1
.4
.5
4.6

-.2
-.3
-.3

-1.1

-3.2
-1.6

.2
-1.9

-2.1

.3
-.6

1975
1976
1977
1978
1979
1980
1981
1982

-1.5

-.1
1.1
.9
.4
.5

-1.3

-1.3

3.7
-3.5

.2
0
2.4
-.4

-1.0

1.3
2.0

-.9
.9
.6
-.4
.5
.1
.9
1.4
2.7
7.1

-3.0

.9
1.7
-.8

-.5

-2.3

1965
1966
1967
1968
1969
1970
1971
1972
1973
1974

-1.9

-1.0
-1.6

-1.0

-.4
.8
-1.2

1.1
-.3
1.0
-1.0

-1.1

1.7
.2
-.7
-.8
2.4
.7
-.4
.4

.3
-.8
1.5

-1.0

-4.6

22.2

-4.9

7.9

5.2

.5
2.5

1.5
-.6

1.0

-3.2

-1.1

2.5
.8

-.5
.9

1.3
-.4

.5
.9

1.7

-.2

5.1
.2
-1.1

-1.6

Average for period

.2
2.0

-1.4

1.3
-.3
1.8
-.8
.2

2.7

-1.4

-.9
-.1
1.7
.4

-2.6

2.0
-.6
2.6

1.7

-.2
.7

-1.9
-1.4

-.8
-1.4
4.8
-.9

-.9

-2.6

-.7
.6
.5
-.7
2.5
-.2
2.5
-.2
-.5
-.4
.7
-.2
2.2
-.4
.4

-1.9

.7
-.3
-.2
-.6
.6
-.8
.9
.3
-1.4

.4
-.8

-3.1

.4
.4
.9
-.5
-.1
-.3
.6
.8
.2

-1.4

0
3.5
.3

.7
2.2

-2.3

-1.4

1.4

-.5
.4
1.2
-.9

-.5
.5
-.2
.3
-.8
.9
-.1
.4
0
-.1

-2.8

-1.2

-.2

.2

2.0
-.9
1.1

-1.0

-1.7

.2
1.7
1.1
-1.7

.9

1.2

-1.6

-1.8

.5
.4
1.2
0
2.1
1.1

-.6
2.3
1.3

-1.2

-1.2

-1.5

1.7
2.7
.9
1.5

.5
4.3
.2

.2
•8

.1
•4
•5
•9
•8
4.0
1.8

-.4

-5.1
-3.1

-3.9

2.3
-.3
-.2
2.0
2.5

1.0
-.6
.5
2.5
1.0

-1.2

.6
2.2
.5
1.3

-.5
1.7
1.6
.8
1.4

.7
-1.7
-1.2

1.9
-1.5

1.1
-1.4

-.6
-.9

-.3

1.0

-.2

3.8

-1.7
-2.4

-4.1

2.9

-1.2

-1.8

-.3
2.5

.2
2.0
.6

2.0
-.9
-.3
-1.1

-.6
.1
.8
.7
-.4
-.2
-.3
-1.0

-.6
.4
-.5
1.7
-.5
.3
-.3
1.7
-.5
.7
1.2
3.7
-3.8

1.1
1.7
2.5

2.5
2.0
-.6
2.3
.8

•4

-.2
.5

-2.5
-1.3

1

2.0
2.6
-1.0

.2

.9

-1.9

-.7
.7
-.6
-.3
.6
-.2
-.3
-.4
-.6
.9
1.4
-.1
1.1
-.2
.4
-.2
.6
-.1
.5
-.5
.9
4.2
3.3
1.6
-.9
-.9
.2
.7
3.5
-.8
-1.1

-1.0

-.3
-.1
-1.1

.6
.3
-.1
-.6
.4
.4
-.6
-.5
-.3
1.4
-1.4

.3
.5
.7
-.9
1.4
2.7
-.9
.4
-.2
.6
1.4
1.3
1.2
.8
-1.3

.2

-0.5

-.9
1.8
0
-.9
-.3
-.2
-.4
.6
0
0
-.3
0
.1
0
-.4
.1
.8
-.2
-.1
.2
.7
-.1
.6
1.4
2.7
.4
.4
.1
.3
1.4
1.3
1.0
-.3
0

Year

Quarterly

Monthly
Jan.

Feb.

Mar.

Apr.

May

June

July

Aug.

Sept.

Oct.

Nov.

Dec.

IQ

IIQ

331c. Change in producer price index, crude materials for further processing, over 6-month spans4
[Annual rate, percent]

HI Q

IV Q

Annual

Average for period

1947
1948
1949
1950
1951
1952
1953
1954

3.6
-20.2
6.2
28.0
-9.8
-12.2
5.5

9.1
-19.3
13.3
18.1
-8.4
-10.5
5.7

4.7
-18.9
17.1
8.0
-10.0
-8.9
-1.0

-1.4
-16.7
26.5
-7.1
-6.7
-1.3
-4.4

6.7
-11.0
24.1
-16.4
-4.4
-3.8
-4.6

8.0
-7.8
29.8
-15.8
-6.2
-2.9
-6.9

19.6
-2.4
-4.3
28.5
-11.5
-6.5
-1.4
-6.3

23.4
-10.2
-2.7
25.6
-10.5
-6.5
-3.9
-4.4

33.5
-16.6
-.4
30.3
-8.0
-9.9
1.8
-4.1

36.5
-21.3
3.0
31.0
-4.9
-11.4
-1.7
-1.8

18.6
-23.9
8.7
35.7
-3.9
-12.9
1.8
,-2.0

6.9
-22.3
5.6
28.4
-5.2
-8.1
.8
-2.0

5.8
-19.5
12.2
18.0
-9.4
-10.5
3.4

4.4
-11.8
26.8
-13.1
-5.8
-2.7
-5.3

1955
1956
1957
1958
1959
1960
1961
1962
1963
1964

-1.8
-.6
-1.2
5.5
-1.0
2
-.2
-1.2
-6.6
-2.9

-8.0
8.7
-2.6
8.4
-4.2
1.6
-2.1
-1.0
-8.3
-5.1

-1.0
6.9
-1.0
3.2
-2.0
.6
-5.9
-4.2
-5.0
-1.9

-4.2
6.9
4.2
4.6
-3.7
.2
-4.3
-2.6
-2.1
-3.5

-5.6
7.5
7.0
0
-4.3
-4.1
-.4
-.8
-.4
-.4

-1.4
8.6
2.5
-4.0
-3.5
-4.8
-.6
4.8
1.9
3.6

-3.6
4.6
1.6
0
-6.4
-3.0
.8
4.2
1.5
2.1

-4.5
2.7
3.1
-1.7
-5.9
-3.6
2.3
5.9
3.8
3.2

-7.8
7.5
.2
-2.3
-5.9
-.8
8.2
4.9
-3.5
5.2

-6.3
5.8
-3.7
-3.3
-3.8
-.2
6.2
.6
-1.7
2.2

-1.2
0
-1.0
-2.9
-2.0
4.9
.8
-3.3
-3.1
3.9

-4.5
-1.2
7.4
-1.2
-1.4
2.5
1.7
-10.3
-1.9
-.4

-3.6
5.0
-1.6
5.7
-2.4
.8
-2.7
-2.1
-6.6
-3.3

1965
1966
1967
1968
1969
1970
1971
1972
1973
1974

3.6
10.3
-12.9
2.6
6.8
4.4
3.0
13.1
49.7
7.3

6.4
6.1
-7.6
2.4
7.6
-1.4
5.4
12.4
56.3
-2.6

12.1
1.7
-4.1
-1.0
13.2
-.5
9.7
12.3
57.3
-12.3

11.5
2.3
-5.7
1.8
9.8
-.2
6.0
12.5
35.8
-11.0

10.7
-.6
-1.0
1.6
13.6
-2.3
-.3
11.8
85.2
-4.5

9.6
-.4
.8
2.0
10.2
-.4
1.4
12.9
52.5
-4.3

9.1
-2.4
4.1
2.0
10.3
-.2
2.1
11.6
36.6
8.9

8.3
-4.5
.6
8.3
7.1
.5
5.8
14.5
26.3
21.3

7.5
-6.0
.8
6.9
3.7
-2.7
6.0
23.5
15.7
23.5

12.0
-7.0
.6
5.8
6.0
-1.4
10.7
26.4
45.7
-.6

14.4
-12.3
1.0
3.8
4.2
6.6
13.4
36.5
.7
-15.1

13.6
-13.7
2.8
5.2
7.0
-.5
14.2
48.2
4.7
-12.1

1975
1976
1977
1978
1979
1980
1981
1982

-11.4
-3.7
17.4
26.9
21.5
2
5.0
-1.1

-9.1
-2.3
13.9
24.0
21.2
.1
1.9
5.3

-.2
3.6
3.1
26.2
21.0
-1.7
5.1
6.9

9.8
5.7
1.3
21.7
17.1
9.5
3.7
1.2

18.4
4.9
-5.5
16.2
8.7
15.5
.2

27.6
6.2
-8.6
15.8
8.9
21.2
-1.9
-1.0

19.7
-2.7
-12.1
13.9
8.8
32.3
-6.5
-4.0

10.7
-.7
-6.6
12.9
10.9
31.8
-8.4
-5.5

8.5
-2.3
3.0
9.4
12.3
29.0
-11.8
-5.6

2.0
-1.5
8.1
16.3
9.4
18.7
-9.2
-3.9

-2.9
6.7
14.6
23.8
17.0
9.9
-8.9
-1.4

-8.9
10.4
20.1
24.9
7.6
7.0
-6.3
2.6

25.5
-9.7
-2.5
28.1
-10.0
-7.6
-1.2
-4.9

20.7
-22.5
5.8
31.7
-4.7
-10.8
.3
-1.9

-5.5
-7.0
24.7
-2.4
-8.4
-3.5
-2.2

-3.7
7.7
4.6
.2
-3.8
-2.9
-1.8
.5
-.2

-5.3
4.9
1.6
-1.3
-6.1
-2.5
3.8
5.0
.6
3.5

-4.0
1.5
.9
-2.5
-2.4
2.4
2.9
-4.3
-2.2
1.9

-4.2
4.8
1.4
.5
-3.7
-.5
.5
-.2
-2.1
.5

7.4
6.0
-8.2
1.3
9.2
.8
6.0
12.6
54.4
-2.5

10.6
.4
-2.0
1.8
11.2
-1.0
2.4
12.4
57.8
-6.6

8.3
-4.3
1.8
5.7
7.0
-.8
4.6
16.5
26.2
17.9

13.3
-11.0
1.5
4.9
5.7
1.6
12.8
37.0
17.0
-9.3

9.9
-2.2
-1.7
3.4
8.3
.2
6.4
19.6
38.9
-.1

-6.9
-.8
11.5
25.7
21.2
-.5
4.0
3.7

18.6
5.6
-4.3
17.9
11.6
15.4
.7
.3

13.0
-1.9
-5.2
12.1
10.7
31.0
-8.9
-5.0

-3.3
5.2
14.3
21.7
11.3
11.9
-8.1
-.9

5.4
2.0
4.1
19.3
13.7
14.5
-3.1
-.5

72.6
79.1
74.3
79.7
87.2
85.5
86.6
86.4

75.2
78.7
73.8
84.1
86.5
85.1
86.4
86.4

72.4
78.3
75.2
78.6
88.1
85.5
86.0
86.5

332. Producer price index, intermediate materials, supples, and components
[1967=100]

Average for period

77.0
76.7
74.7
89.3
85.5
85.3
86.4

71.6
77.7
75.8
75.1
89.4
85.4
85.3
86.5

71.5
78.1
75.4
76.2
89.3
85.2
85.9
86.6

71.8
78.8
74.9
76.7
89.0
85.5
86.2
86.4

72.1
78.9
74.7
78.3
88.1
85.3

72.3
79.2
74.3
79.5
86.9
85.5
86.5
86.4

73.5
79.3
74.0
81.2
86.7
85.6
86.4
86.3

74.3
78.9
73.9
82.7
86.5
85.4
86.4
86.2

75.2
78.9
73.7
83.6
86.6
85.1
86.3
86.5

76.0
78.3
73.7
86.1
86.4
84.8
86.4
86.4

77.1
77.3
74.4
89.0
85.9
85.0
86.4

71.6
78.2
75.4
76.0
89.2
85.4
85.8
86.5

86.9
90.4
94.1
94.0
95.2
95.8
95.3
94.8
94.7
95.6

86.8
91.1
94.0
94.0
95.3
95.9
95.4
94.9
94.6
95.4

87.0
91.6
93.9
94.0
95.5
95.8
95.3
95.0
94.5
95.4

87.2
92.0
93.8
94.0
95.9
95.6
95.0
95.1
95.2
95.3

87.4
92.1
94.0
94.1
95.8
95.8
94.8
95.0
95.4
95.1

88.1
91.3
94.2
94.2
95.8
95.7
94.7
95.1
95.3
95.2

88.4
92.3
94.5
94.3
95.7
95.6
94.7
95.0
95.3
95.2

89.2
92.6
94.4
94.4
95.6
95.6
94.7
95.0
95.3
95.4

89.6
93.1
94.2
94.5
95.7
95.5
94.5
94.9
95.6
95.8

89.7
93.2
94.3
94.6
95.8
95.3
94.7
94.8
95.6
95.8

89.9
93.4
94.4
95.0
95.7
95.1
94.9
94.8
95.7
96.0

86.7
90.6
94.0
94.1
95.2
95.8
95.3
94.8
94.7
95.6

87.2
91.9
93.9
94.0
95.7
95.7
95.0
95.0
95.0
95.3

88.6
92.1
94.4
94.3
95.7
95.6
94.7
95.0
95.3
95.3

89.7
93.2
94.3
94.7
95.7
95.3
94.7
94.8
95.6
95.9

88.1
92.0
94.1
94.3
95.6
95.6
95.0
94.9
95.2
95.5

96.0
97.7
99.9
101.1
104.2
108.6
111.8
116.3
123.4
142.6

96.0
98.1
99.7
101.6
104.6
108.5
112.0
117.0
125.3
145.2

96.1
98.3
99.6
101.7
105.1
108.4
112.6
117.2
127.5
149.3

96.3
98.7
99.5
101.8
105.0
108.9
112.8
117.5
128.2
152.2

96.5
99.2
99.5
101.9
105.2
109.3
113.2
117.9
131.1
156.9

96.9
99.3
99.8
102.2
105.4
109.7
113.8
118.1
133.5
160.0

96.9
99.8
99.9
102.3
105.5
110.1
114.6
118.4
131.3
165.7

97.1
100.3
100.0
102.4
106.0
110.3
115.4
118.6
135.1
173.3

97.2
100.1
100.2
102.7
106.3
110.6
115.4
119.4
133.4
173.5

97.3
99.8
100.3
102.9
106.9
111.2
115.3
120.2
134.7
177.4

97.6
99.9
100.7
103.1
107.4
111.3
115.6
121.2
136.1
179.5

97.5
99.9
101.1
103.7
107.8
111.4
116.2
122.8
139.0
179.4

96.0
98.0
99.7
101.5
104.6
108.5
112.1
116.8
125.4
145.7

96.6
99.1
99.6
102.0
105.2
109.3
113.3
117.8
130.9
156.4

97.1
100.1
100.0
102.5
105.9
110.3
115.1
118.8
133.3
170.8

97.5
99.9
100.7
103.2
107.4
111.3
115.7
121.4
136.6
178.8

96.8
99.2
100.0
102.3
105.8
109.9
114.1
118.7
131.6
162.9

180.0
184.4
195.6
207.8
226.9
266.9
297.0
311.9

179.5
184.9
196.6
209.1
228.9
271.8
298.3
311.0

178.3
185.5
198.3
210.4
231.5
273.6
301.1
309.6

178.6
186.1
200.0
211.5
234.9
274.2
304.2
308.4

177.9
187.1
201.4
213.2
237.8
275.9
305.6
308.7

177.7
188.6
201.5
214.8
240.3
278.5
307.0
309.7

178.4
189.7
202.0
215.4
244.3
280.8
307.6
310.3

180.0
190.3
202.9
217.0
247.6
283.9
309.6
310.3

180.6
192.1
203.9
218.8
251.8
285.4
309.9
310.8

182.4
192.3
204.3
221.2
256.0
288.2
310.3
310.9

183.1
193.6
205.7
223.2
258.3
290.6
310.7
311.7

183.8
194.9
206.6
224.6
260.9
293.5
311.0
311.8

179.3
184.9
196.8
209.1
229.1
270.8
298.8
310.8

178.1
187.3
201.0
213.2
237.7
276.2
305.6
308.9

179.7
190.7
202.9
217.1
247.9
283.4
309.0
310.5

183.1
193.6
205.5
223.0
258.4
290.8
310.7
311.5

180.0
189.1
201.5
215.6
243.2
280.3
306.0
310.4

0.8
-.8
.9
-.1
0
.3
0

0.8
.2
-.4
1.9
-.9
0
.1
0

1.1
-.4
-.1
2.0
-.1
-.3
0
0

0.2
-.5
1.3
0
-.1
.2
0

.7
.2
.1
.1

.2
.3
0
.2
0
-.2
.1

1947
1948
1949
1950
1951
1952
1953
1954

77.5
78.0
74.0
88.5
86.2
84.9
86.5

76.8
77.2
74.4
89.2
86.0
84.9
86.4

1955
1956
1957
1958
1959
1960
1961
1962
1963
1964

86.5
90.2
93.8
94.3
95.0
95.8
95.2
94.8
94.7
95.7

1965
1966
1967
1968
1969
1970
1971
1972
1973
1974
1975
1976
1977
1978
1979
1980
1981
1982

332c. Change in producer price index, mtermednte materials,
[Percent]

Average for period

1947
1948
1949
1950
1951
1952
1953
1954

2.0
-.4
4
2.8
-.2
1
1

-0.9
-1.0
.5
.8
-.2
0
-.1

0.3
-.6
.4
.1
-.6
.5
0

0.9
-1.2
.5
.1
-.1
0
.1

-0.1
.5
-.5
1.5
-.1
-.2
.7
.1

0.4
.9
-.7
.7
-.3
.4
.3
-.2

0.4
.1
-.3
2.1
-1.0
-.2
.7
.2

0.3
.4
-.5
1.5
-1.4
.2
-.3
-.2

1.7
.1
-.4
2.1
-.2
.1
-.1
-.1

1.1
-.5
-.1
1.8
-.2
-.2
0
-.1

1.2
0
-.3
1.1
.1
-.4
-.1
.3

0
3.0
-.2
-.4
.1
-.1

0.5
-.7
.4
1.2
-.3
.2
0

1955
1956
1957
1958
1959
1960
1961
1962
1963
1964

1
3
4
-.1
0
1
1
-.1
-.1
0

.5
.2
.3
-.3
.2
0
.1
0
0
-.1

-.1
0
.1
.1
.1
.1
-.1
-.2

.2
.5
-.1
0
.2
-.1
-.1
.1
-.1
0

.2
.4
-.1
0
.4
-.2
-.3
.1
.7
-.1

.2
.1
.2
.1
-.1
.2
-.2
-.1
.2
-.2

.8
-.9
.2
.1
0
-.1
-.1
.1

.3
1.1
.3
.1
-.1
-.1
0
-.1
0
0

.9
.3
-.1
.1
-.1
0
0
0
0
.2

.4
.5
-.2
.1
.1
-.1
-.2
-.1
.3
.4

.1
.1
.1
!1
.1
-.2
.2
-.1
0
0

.2
.2
.1
.4
-.1
-.2
.2
0
.1
.2

.2
.4
.2
-.1
.1
.1
.1
0
-.1
-.1

.2
.3
0
0
.2
0
-.2
0
.3
-.1

-A
0
0
0
.1

1965
1966
1967
1968
1969
1970
1971
1972
1973
1974

0
2
0
0
5
7
4
1
5
2.6

0
.4
-.2
.5
.4
-.1
.2
.6
1.5
1.8

.1
.2
-.1
.1
.5
-.1
.5
.2
1.8
2.8

.2
.4
-.1
.1
-.1
5
.2
.3
.5
1.9

.2
.5
0
.1
.2
.4
.4
.3
2.3
3.1

.4
.1
.3
.3
.2
.4
.5
.2
1.8
2.0

0
.5
.1
.1
.1
.4
.7
.3
-1.6
3.6

.2
.5
.1
.1
.5
.2
.7
.2
2.9
4.6

.1
-.2
.2
.3
.3
.3
0
.7
-1.3
.1

.1
-.3
.1
.2
.6
.5
-.1
.7
1.0
2.2

.3
.1
.4
.2
.5
.1
.3
.8
1.0
1.2

-.1
0
.4
.6
.4
.1
.5
1.3
2.1
-.1

0
.3
-.1
.2
.5
.2
.4
.3
1.3
2.4

.3
.3
.1
.2
.1
.4
.4
.3
1.5
2.3

1975
1976
1977
1978
1979
1980
1981
1982

3
3
4
6
1.0
2.3
1.2
.3

-.3
.3
.5
.6
.9
1.8
.4
-.3

-.7
.3
.9
.6
1.1
.7
.9
-.5

.2
.3
.9
.5
1.5
.2
1.0
-.4

-.4
.5
.7
.8
1.2
.6
.5
.1

-.1

.4
.6
.2
.3
1.7
.8
.2
.2

.9
.3
.4
.7
1.4
1.1
.7
0

.3
.9
.5
.8
1.7
.5
.1
.2

1.0
.1
.2
1.1
1.7
1.0
.1
0

.4
.7
.7
.9
.9
.8
.1
.3

.4
.7
.4
.6
1.0
1.0
.1
0

-.2
.3
.6
.6
1.0
1.6
.8
-.2

-.1
.5
.5
.7
1.3
.6
.7
0

footnotes at end of this part.




1.1
.9
.5
.3

.1
.2

.3
.3
.1
0
.1
0
0
0
.1
0

.1
.3
.1
.2
.3
.3
.5
.4
0
2.8

.1
-.1
.3
.3
.5
.2
.2
.9
1.4
1.1

1
.1
.2
.3
.3
.4
.5
1.0
2.2

.5
.6
.4
.6
1.6

.6
.5
.4
.9
1.2
.9
.1
.1

.2
.5
.5
.7
1.3
1.0
.5
0

107

Year

Quarterly

Monthly
Jan.

Feb.

Mar.

Apr.

May

June

July

Aug.

Sept.

Nov.

Oct.

IIQ

IP

Dec.

IHQ

332c. Change in producer price index, intermediate materials, supples, and components, over 6-month spans4
[Annual rate, percent]
1947
1948
1949
1950
1951
1952
1953
1954

9.4
-7.7
3.3
16.9
-2.5
-.2
2

7.9
-8.7
6.9
14.1
-3.2
1.9
.7

7.5
-8.5
8.3
6.8
-2.1
3.3
0

3.6
-8.3
12.0
-.9
-2.1
4.5
.2

6.3
-7.4
14.2
-5.1
-1.2
3.8
0

1955
1956
1957
1958
1959
1960
1961
1962
1963
1964

1.9
4.5
1.7
-.4
2.1
.2
-.4
1.1
-.8
-.4

1.6
5.2
1.3
-.6
2.8
-.4
-.6

2.3
5.0
1.3
-.6
1.7
.2
-.6
.2
1.3
-1.3

3.7
2.5
.9
-.2
1.7
-.2
-1.0
.6
1.3
-1.0

1965
1966
1967
1968
1969
1970
1971
1972
1973
1974

1.0
2.9
-.6
3.0
4.1
3.8
2.9
3.9
13.8
27.7

1.5
3.3
-.8
2.4
4.1
3.6
3.4
4.0
17.0
32.9

1.9
3.7
-.2
2.2
3.3
3.6
4.4
3.3
18.2
32.5

1975
1976
1977
1978
1979
1980
1981
1982

1.4
4.1
8.2
7:2
12.8
14.7
11.4
-1.2

-1.8
4.4
8.2
7.4
13.5
14.1
10.6
-1.3

-1.9
5.3
6.9
8.1
14.5
13.9
9.4

Annual

IVQ

Average for period

6.1
-6.9
18.2
-5.7
.2
2.6
-.2

7.7
3.1
-5.0
21.3
-6.4
0
2.6
-.7

10.6
2.1
-4.5
20.4
-6.0
-.2
.9
-.2

12.0
-1.3
-3.2
26.0
-5.8
-1.6
.5
0

15.5
-2.3
-1.9
27.8
-4.3
-.9
-.7
-.2

12.8
-5.0
.3
25.9
-2.1
-1.4
-.2
1.2

9.8
-6.4
1.9
20.9
-2.7
-.7
0
1.2

8.3
-8.3
6.2
12.6
-2.6
1.7
.3

5.3
-7.5
14.8
-3.9
-1.0
3.6
0

10.1
1.3
-4.2
22.6
-6.1
-.6
1.3
-.3

12.7
-4.6
.1
24.9
-3.0
-1.0
-.3
.7

2.6
-5.0
17.1
-.1
-1.3
1.6
.2

3.5
4.2
.9
.6
1.1
-.4
-1.3
.4
1.3
-.8

5.6
3.3
.9
.9
.6
-.6
-1.5
.2
1.5
0

6.1
3.3
.6
1.1
.4
-.6
-1.7
-.2
2.3
.8

5.8
2.6
1.1
1.3
-.2
-.6
-.6
-.6

5.8
2.8
.9
1.9
-.2
-1.5
.2
-.4
.6
1.9

4.8
5.6
.2
1.7
0
-1.0
.2

1.7

4.6
3.9
-1.1
1.9
.2
-.6
.2
-.6
.6
1.7

4.3
3.0
-.8
1.9
.6
-.4
.4
-.8
.2
1.5

1.9
4.9
1.4
-.5
2.2
0
-.5
.7
.4
-.8

4.3
3.3
.9
.4
1.1
-.4
-1.3
.4
1.4
-.6

5.9
2.9
.9
1.4
0
-.9
-.7
-.4
1.2
1.3

4.6
4.2
-.6
1.8
.3
-.7
.3
-.7
.5
1.6

4.2
3.8
.7
.8
.9
-.5
-.6
0
.9
.4

1.9
4.3
0
2.4
2.5
2.8
5.1
3.6
13.2
35.0

2.3
4.5
.6
1.6
2.7
3.3
6.2
2.8
16.3
42.4

2.3
3.7
1.2
2.0
2.3
4.1
5.0
3.8
9.5
35.0

2.1
2.2
1.6
2.2
3.7
4.3
4.5
4.6
10.4
35.9

2.3
1.4
2.4
2.4
4.2
3.7
4.3
5.7
7.8
30.9

1.2
1.2
2.6
3.0
4.6
3.1
4.3
8.1
8.4
25.7

1.7
.2
2.4
3.7
6.0
3.1
3.0
8.6
18.0
18.0

2.1
-1.2
3.2
4.3
4.8
3.1
2.8
11.6
15.5
7.3

2.3
-1.0
3.0
4.7
4.0
3.6
3.1
14.0
25.3
5.6

1.5
3.3
-.5
2.5
3.8
3.7
3.6
3.7
16.3
31.0

2.2
4.2
.6
2.0
2.5
3.4
5.4
3.4
13.0
37.5

1.9
1.6
2.2
2.5
4.2
3.7
4.4
6.1
8.9
30.8

2.0
-.7
2.9
4.2
4.9
3.3
3.0
11.4
19.6
10.3

1.9
2.1
1.3
2.8
3.9
3.5
4.1
6.2
14.4
27.4

-1.8
5.8
6.7
7.4
15.9
10.7
7.3
-1.0

.6
5.9
6.5
7.7
17.0
9.1
7.7
-.4

2.6
7.2
5.7
8.1
18.3
8.8
5.9

4.3
6.8
4.3
9.4
18.8
10.5
4.1
1.6

5.9
7.1
4.3
9.6
18.0
10.9
3.4
2.0

7.0
6.8
5.1
9.3
17.9
11.1
2.6
1.4

6.8
6.3
5.8
11.0
19.4
11.9
2.8
-.1

5.5
6.7
6.2
11.3
20.5
10.4
.9
-.3

5.5
6.6
6.5
11.9
18.1
11.3
-.2
-1.6

-.8
4.6
7.8
7.6
13.6
14.2
10.5
-1.1

.5
6.3
6.3
7.7
17.1
9.5
7.0
-.2

5.7
6.9
4.6
9.4
18.2
10.8
3.4
1.7

5.9
6.5
6.2
11.4
19.3
11.2
1.2
-.7

2.8
6.1
6.2
9.0
17.1
11.4
5.5
-.1

333. Producer price index, capital equipment
[1967=100]

Average for period

1947
1948
1949
1950
1951
1952
1953
1954

57.6
63.2
62.8
70.1
71.8
72.4
74.2

57.9
63.6
62.8
70.4
72.4
72.4
74.3

58.1
63.8
63.0
71.0
72.5
72.7
74.3

54.5
58.4
63.9
63.3
71.2
72.5
73.0
74.5

55.2
58.8
63.8
63.6
71.4
72.6
73.3
74.6

55.5
59.6
63.7
63.8
71.5
72.7
73.9
74.6

55.6
60.7
63.7
64.4
71.5
72.8
74.2
74.7

55.9
61.8
63.3
65.4
71.3
72.5
74.1
74.5

56.3
62.4
63.0
66.1
71.4
72.5
74.2
74.5

56.7
62.8
63.0
66.8
71.7
72.3
74.2
74.5

57.0
63.0
62.9
67.4
71.7
72.3
73.9
74.5

57.2
63.2
62.8
69.3
71.7
72.3
74.0
74.9

57.9
63.5
62.9
70.5
72.2
72.5
74.3

55.1
58.9
63.8
63.6
71.4
72.6
73.4
74.6

55.9
61.6
63.3
65.3
71.4
72.6
74.2
74.6

57.0
63.0
62.9
67.8
71.7
72.3
74.0
74.6

55.4
60.4
63.4
64.9
71.2
72.4
73.6
74.5

1955
1956
1957
1958
1959
1960
1961
1962
1963
1964

75.0
79.4
85.9
89.4
90.7
91.6
91.8
92.0
92.2
92.6

75.1
79.9
86.3
89.5
90.8
91.7
91.7
92.0
92.2
92.7

75.3
80.4
86.6
89.5
91.2
91.8
91.8
92.1
92.2
93.0

75.5
81.2
86.8
89.6
91.3
91.7
91.8
92.2
92.2
93.1

75.8
81.7
87.0
89.7
91.6
91.6
91.8
92.2
92.2
93.4

76.1
82.0
87.1
89.7
91.9
91.7
91.9
92.1
92.3
93.3

76.4
82.1
87.7
89.7
91.8
91.8
91.8
92.3
92.3
93.5

77.1
82.8
88.0
89.6
91.8
91.9
91.8
92.3
92.3
916

77.9
84.0
88.4
89.6
91.9
91.1
91.9
92.3
92.5
93.6

78.7
84.8
88.7
89.8
91.8
91.7
92.0
92.2
92.6
93.6

78.6
85.5
89.0
90.2
91.5
91.6
91.9
92.2
92.6
93.6

79.0
85.6
89.3
90.5
91.5
91.6
91.9
92.3
92.8
93.5

75.1
79.9
86.3
89.5
90.9
91.7
91.8
92.0
92.2
92.8

75.8
81.6
87.0
89.7
91.6
91.7
91.8
92.2
92.2
93.3

77.1
83.0
88.0
89.6
91.8
91.6
91.8
92.3
92.4
93.6

78.8
85.3
89.0
90.2
91.6
91.6
91.9
92.2
92.7
93.6

76.7
82.4
87.5
89.8
91.5
91.7
91.8
92.2
92.4
93.3

1965
1966
1967
1968
1969
1970
1971
1972
1973
1974

93.9
95.0
98.8
101.9
105.1
109.8
115.3
118.1
120.2
128.1

94.0
95.4
99.1
102.2
105.4
110.2
115.7
118.7
121.1
129.2

94.2
95.6
99.1
102.4
105.6
110.6
115.9
118.9
121.7
130.9

94.4
95.9
99.4
102.9
105.8
110.8
116.2
119.3
122.3
132.4

94.3
96.3
99.7
103.3
106.2
111.2
116.5
119.5
123.2
136.0

94.4
96.7
99.8
103.4
106.5
111.4
116.6
119.7
123.5
138.9

94.5
97.0
99.9
103.7
107.0
111.9
117.1
119.9
123.7
141.8

94.6
97.2
100.2
104.0
107.2
112.2
117.4
119.9
124.1
145.5

94.8
97.4
100.4
104.2
107.7
112.7
117.2
120.2
124.6
148.3

94.6
97.8
100.9
104.5
108.1
114.0
116.9
119.6
124.9
151.5

94.8
98.3
101.2
104.7
108.9
114.6
116.9
119.8
125.5
153.7

94.9
98.6
101.6
104.7
109.4
114.9
117.7
120.2
126.6
155.1

94.0
95.3
99.0
102.2
105.4
110.2
115.6
118.6
121.0
129.4

94.4
96.3
99.6
103.2
106.2
111.1
116.4
119.5
123.0
135.8

94.6
97.2
100.2
104.0
107.3
112.3
117.2
120.0
124.1
145.2

94.8
98.2
101.2
104.6
108.8
114.5
117.2
119.9
125.7
153.4

94.4
96.8
100.0
103.5
106.9
112.0
116.6
119.5
123.5
141.0

1975
1976
1977
1978
1979
1980
1981
1982

157.0
168.8
178.9
192.2
208.3
228.0
253.5
274.9

158.3
169.6
179.8
193.2
210.1
229.8
256.1
274.5

159.9
170.6
180.7
194.5
211.5
232.2
258.1
276.0

160.8
171.3
181.5
195.4
213.4
235.6
260.2
276.5

161.4
171.8
182.5
196.9
214.7
236.5
262.3
277.8

162.0
172.7
183.5
198.5
215.9
238.1
264.1
279.5

163.1
173.5
184.5
199.9
217.5
241.1
265.6
280.5

163.4
174.5
186.1
201.3
217.7
243.2
267.1
282.3

164.7
175.8
187.2
203.0
220.0
244.5
268.4
281.9

165.6
176.4
189.0
203.3
221.5
248.0
270.3
282.0

166.8
177.2
190.4
205.3
223.2
249.5
272.3
283.1

167.7
178.7
191.7
206.7
225.2
250.7
273.6
284.4

158.4
169.7
179.8
193.3
210.0
230.0
255.9
275.1

161.4
171.9
182.5
196.9
214.7
236.7
262.2
277.9

163.7
174.6
185.9
201.4
218.4
242.9
267.0
281.6

166.7
177.4
190.4
205.1
223.3
249.4
272.1
283.2

162.5
173.4
184.6
199.2
216.5
239.8
264.3
279.6

0.4
.3
-.2
2.8
0
0
.1
.5

4
333c. Change in producer price index, capital equipment, over 1-month spans
[Percent]

0.5
.2
.5
.3
0
.4
.3

0.2
1.8
0
.9
0
.1
.4
.1

0.5
1.8
-.6
1.6
-.3
-.4
-.1
-.3

0.7
1.0
-.5
1.1
.1
0
.1
0

0.7
.6
0
1.1
.4
-.3
0
0

0.5
.3
-.2
.9
0
0
-.4
0

.3
.6
.3
0
.4
.1
.1
.1
0
.3

.3
1.0
.2
.1
.1
-.1
0
.1
0
.1

0
0
0
.3

.4
.4
.1
0
.3
.1
.1
-.1
.1
-.1

.4
.1
.7
0
-.1
.1
-.1
.2

.9
.9
.3
-.1
0
.1
0
0
0
.1

1.0
1.4
.5
0
.1
-.9
.1
0
.2
0

1.0
1.0
.3
.2
-.1
.7
.1
-.1
.1
0

.3
.4
-.3
-.1
-.1
0
0
0

.1
.4
.3
.3
.3
.4
.3
.5
.7
.9

.2
.2
0
.2
.2
.4
.2
.2
.5
1.3

.2
.3
.3
.5
.2
.2
.3
.3
.5
1.1

-.1
.4
.3
.4
.4
.4
.3
.2
.7
2.7

.1
.4
.1
.1
.3
.2
.1
.2
.2
2.1

.1
.3
.1
.3
.5
.4
.4
.2
.2
2.1

.2
.2
.2
.2
.5
.4
-.2
.3
.4
1.9

-.2
.4
.5
.3
.4
1.2
-.3
-.5
.2
2.2

.8
.5
.5
.5
.9
.8
1.0
-.1

1.0
.6
.5
.7
.7
1.0

.6
.4
.4
.5
.9
1.5

.4
.3
.6
.8
.6
.4

.4
.5
.5
.8
.6
.7
.7
.6

.7
.5
.5
.7
.7
1.3
.6
.4

.8
.7
.6
.8
1.1
.5
.5
-.1

.5
.3
1.0
.1
.7
1.4
.7
0

0.7
0
0
1.2
1
.1
.3

0.5
.6
0
.4
.8
0
.1

0.3
.3
.3
.9
.1
.4
0

1955
1956
1957
1958
1959
1960
1961
1962
1963
1964

1
5
4
1
2
1
2
.1
-.1
-.2

.1
.6
.5
.1
.1
.1
-.1
0
0
.1

1965
1966
1967
1968
1969
1970
1971
1972
1973
1974

4
1
2
3
.4
4
3
3
0
1.2

1975
1976
1977
1978
1979
1980
1981
1982

1.2
.7
1
3
8
1.2
1.1
5




Average for period

0.5
1.4
-.2
.3
.1
.1
.8
0

1947
1948
t949
1950
1951
1952
1953
1954

0.5
.3
.1
.8
.3
.2
.1

0.9
-.1
.4
.2
.1
.5
.1

0.5
1.5
-.4
1.2
-.1
-.1
.1
-.1

0.5
.4
-.1
1.6
.1
-.1
-.1
.2

.2
.6
.4
.1
.2
.1
.1
.1
0
.1

.4
.7
.2
.1
.2
0
0
0
0
.1

.8
.8
.5
0
0
-.2
0
.1
.1
.1

.5
.6
.3
.3
-.1
.2
0
0
.1
0

.2
.5
.3
.2
.7
.5
0
.2
.5
1.5

.2
.2
.2
.3
.3
.4
.3
.3
.4
1.1

.1
.4
.2
.3
.3
.3
.2
.2
.5
2.0

.1
.2
.2
.3
.4
.4
.2
.2
.3
2.2

0
.4
.4
.2
.5
.7
.1
0
.5
1.5

.7
.5
.7
1.0
.8
.6
.7
.4

1.0
.6
.4
.5
.8
1.0
1.0
.3

.5
.4
.5
.7
.7
.9
.8
.4

.6
.6
.7
.7
.6
.9
.6
.3

.6
.5

.5
.1
.3
.3
0
0
0

0.8

Year

Feb.

Apr.

Mar.

May

June

333c. Change in producer price index, capital
[Annual rate, percent]

1947
1948
1949
1950
1951
1952
1953
1954
1955
1956
1957
1958
1959
1960
1961
1962
1963
1964
1965
1966
1967
1968
1969
1970
1971
1972
1973
1974
1975
1976
1977
1978
1979
1980
1981
1982
1947
1948
1949
1950
1951
1952
1953
1954
1955
1956
1957
1958
1959
1960
1961
1962
1963
1964
1965
1966
1967
1968
1969
1970
1971
1972
1973
1974
1975
1976
1977
1978
1979
1980
1981
1982

Quarterly

Monthly
Jan.

6.1
3.5
1.0
13.6
2.2
1.9
.8
2.7
6.5
4.8
2.0
3.4
-.2
.2
.4
0
1.1
1.7
2.8
3.3
4.0
2.5
5.1
3.9
4.1
4.6
12.4
12.7
7.0
5.9
6.9
10.2
13.1
10.1
4.6

86.4
84.9
80.8
90.8
91.2
89.3
89.5
88.8
88.4
91.3
94.1
93.9
93.3
95.0
94.8
94.4
94.7
94.5
98.2
99.5
100.9
104.4
109.6
111.1
114.4
120.8
139.4
159.5
168.4
174.4
186.6
206.1
235.4
262.2
278.0

6.4
2.6
2.2
12.2
2.5
2.8
1.9
3.5
8.0
3.5
1.6
3.1
.2
.4
.7
0
1.7
1.5
3.2
2.9
4.2
2.9
4.3
3.3
4.5
5.8
17.4
10.3
6.1
6.1
6.9
9.4
12.3
10.5
4.1

8.6
1.6
3.2
6.4
2.8
4.5
1.6
3.2
7.7
3.5
.9
3.1
.4
.7
.4
0
1.1
1.9
3.8
2.4
3.6
3.5
3.7
3.0
3.4
5.6
20.4
9.1
6.1
5.4
7.2
9.1
11.8
11.0
4.4

July

13.9
-.9
8.5
2.6
.3
4.8
.5
5.4
7.4
4.0
.2
2.2
.4
.2
.7
.2
2.0
1.3
3.8
2.2
3.6
3.4
3.7
3.0
2.0
5.0
26.8
6.5
5.9
7.1
8.6
7.4
12.0

15.3
-2.5
10.1
1.1
0
4.2
.5
7.0
9.2
4.2
.2
1.5
-1.5
.2
.4
.7
1.3
1.3
3.8
2.6
3.5
4.0
3.8
2.3
2.2
4.8
28.4

79.5
86.7
82.9
81.7
92.6
90.8
88.9
89.6

79.5
87.1
82.8
82.1
92.3
90.6
89.0
89.1

Sept.

Oct.

Nov.

Dec.

:, over 6-month spans4

8.2
15.6
-2.8
11.4
1.4
-.6
3.3
0
8.7
9.1
4.4
.4
1.1
0
.4
0
.9
1.1
.4
1.3
4.0
4.3
3.0
2.2
3.1
3.6
4.4
3.6
5.9
3.9
1.2
3.1
.5
3.1
4.3
5.9
30.9
22.5
7.9
6.1
6.1
5.6
6.0
6.2
6.4
8.4
7.3
8.2
8.2
8.9
9.0
7.7
8.2
11.8
10.8
10.9
9.8
7.9
8.1
4.1
4.0
4.3
334. Producer price index, finished consumer goods
[1967=100]
11.1
1.6
5.2
4.0
2.8
5.0
1.4
3.8
6.9
4.2
.7
2.4
.4
0
.7
.2
2.0

Aug.

7.3
5.9
-1.6
15.9
3.1
-.3
.5
1.6
7.4
8.6
3.4
2.7
-.2
-.4
.4
-.2
.9
.9
1.7
3.9
4.0
2.7
5.7
6.3
2.2
2.0
8.4
18.4
7.7
6.2
7.8
8.9
11.4
10.9
5.6
1.9

6.5
4.5
0
15.4
3.1
.6
.3
2.2
6.5
6.3
2.5
3.6
-.2
1.5
.4
-.2
1.1
1.3
1.7
3.5
4.0
2.7
5.5
5.8
2.9
2.5
10.4
16.3
7.3
5.7
8.0
8.5
11.4
11.4
5.7
3.4

js

1.6
-.3
7.5
9.5
4.7
1.1
-.2
0
.2
0
.9
.4

6.2
12.4
-2.8
18.0
.6
-1.1
.3
.8
7.8
9.0
5.1
1.8
-.9
-.2
0
.4
1.1
.4

1.1
4.2
3.0
2.7
5.1
6.2
.7
.5
3.8
27.7
6.8
6.4
8.8
8.7
8.1
11.3
7.8
3.9

1.1
4.0
3.6
2.5
5.5
6.4
1.9
.8
5.1
24.7
7.2
7.1
9.1
8.4
8.8
10.9
7.3
3.5

7.3
8.4
-2.8
18.5
.8
-1.1
0
.8
8.0
9.5
3.9
2.2
-.4
0
.4
-.2
.7
.9
1.1
3.7
4.0
2.7
5.3
6.2
1.7
.5
7.2
22.6
7.1
6.3
8.5
8.6
9.9
10.6
7.1
2.4

79.4
87.4
82.0
83.8
91.4
91.0
89.2
89.3

80.2
87.6
81.8
85.4
91.2
90.9
89.1
89.2

81.3
87.2
81.6
86.2
91.1
90.5
89.7
88.6

82.1
86.8
81.4
86.6
91.6
90.3
89.3
88.5

83.1
86.1
81.3
87.5
91.7
90.0
88.9
88.7

84.5
85.5
80.8
89.2
91.8
89.1
89.0
88.6

85.9
84.2
81.0
91.7
91.2
89.1
89.2

79.6
86.7
83.0
81.6
92.4
90.8
88.9
89.4

6.6
14.8
-2.8
12.3

7.0
2.6
2.1
10.7
2.5
3.1
1.4
3.1
7.4
3.9
1.5
3.2
.1
.4
.5
0
1.3
1.7
3.3
2.9
3.9
3.0
4.4
3.4
4.0
5.3
16.7
10.7
6.4
5.8
7.0
9.6
12.4
10.5
4.4

13.4
-.6
7.9
2.6
1.0
4.7
.8
5.4
7.8
4.1
.4
2.0
-.2
.1
.6
.4
1.8
1.3
4.0
2.3
3.6
3.7
3.8
2.8
2.4
5.2
25.9
6.8
5.9
6.9
8.6
8.2
11.6
8.9
4.7

2.2
-.7
0
1.8
-.7
.2
6
2
-.1
1
3
-.1
1
-.2
.4
-.1
6
2
1
-.2
-.1
3
5
4
-.3
1.0
2.8
3
-.3
3
.5
1.2
1.4
9
.4

See footnotes at end of this part.




Average for period
7.0
14.3
-2.8
13.9
.9
-.8
1.7
.2
8.0
9.2
4.7
1.1
0
-.1
.2
.1
1.0
.6
.9
4.1
3.2
2.8
5.0
6.2
1.3
.6
4.4
27.8
6.7
6.5
8.8
8.4
8.2
11.0
7.7
3.8

7.0
6.3
-1.5
16.6
2.3
-.3
.3
1.5
7.3
8.1
3.3
2.8
-.3
.4
.4
-.2
.9
1.0
1.5
3.7
4.0
2.7
5.5
6.1
2.3
1.7
8.7
19.1
7.4
6.1
8.1
8.7
10.9
11.0
6.1
2.6

10.2
-.6
10.1
4.1
.6
2.4
1.0
6.0
8.1
4.0
1.4
1.2
0
.3
.3
.6
1.2
1.3
3.8
3.1
3.2
4.3
5.1
2.4
2.2
5.9
22.4
7.9
6.2
7.4
8.2
9.2
11.5
8.3
3.9

80.3
87.4
81.8
85.1
91.2
90.8
89.3
89.0

83.2
86.1
81.2
87.8
91.7
89.8
89.1
88.6

80.5
86.5
82.5
83.9
91.8
90.7
89.2
89.1

Average for period

85.6
83.9
81.1
92.3
91.2
89.1
89.0
89.0
88.6
91.7
94.1
93.8
93.3
95.4
94.9
94.2
94.0

85.6
83.7
81.1
92.1
91.3
89.0
89.0

79.7
86.2
83.3
81.1
92.4
91.0
88.7
89.5

88.6
89.1
91.6
95.2
93.6
94.2
94.9
94.6
93.6
94.1

88.8
89.0
91.8
94.6
93.9
94.4
94.4
94.3
93.7
94.1

91.9
94.9
93.7
94.3
93.9
94.3
94.2
94.0

88.9
90.2
92.3
94.7
93.7
94.4
93.8
94.0
94.4
94.2

88.0
89.9
92.6
94.5
93.4
94.7
94.0
94.0
94.4
94.3

92.8
94.3
93.1
94.6
94.3
94.6
94.2
94.3

88.4
90.4
92.6
94.4
94.2
94.6
94.0
95.5
94.1
94.5

88.2
90.6
93.0
94.1
93.3
95.3
93.9
94.7
94.2
94.5

88.4
91.0
93.4
94.0
92.9
95.5
94.0
94.8
94.3
94.4

88.5
91.2
93.8
94.0
93.2
95.2
94.4
94.5
94.1
94.3

88.8
88.7
91.5
94.5
93.8
93.6
95.1
94.8
94.1
94.3

88.7
89.7
92.0
94.7
93.8
94.4
94.0
94.2
94.1
94.1

88.2
90.0
92.7
94.4
93.6
94.6
94.1
94.7
94.2
94.4

88.4
90.9
93.4
94.0
93.1
95.3
94.1
94.7
94.2
94.4

88.5
89.8
92.4
94.4
93.6
94.5
94.3
94.6
94.1
94.3

94.5
99.0
99.3
101.5
104.3
109.4
111.6
114.9
122.3
142.5

94.9
99.3
99.0
101.8
104.8
109.5
111.8
114.8
125.5
143.7

95.6
99.4
99.3
102.2
105.3
109.6
112.4
114.9
126.4
144.8

95.9
99.0
99.4
102.3
106.2
109.3
112.8
115.6
127.3
146.2

96.3
98.5
100.2
102.6
106.8
109.6
113.2
116.2
128.9
145.5

96.2
98.9
100.1
102.9
106.9
109.7
112.6
116.8
128.4
149.4

96.4
100.2
100.4
103.0
107.1
109.5
113.4
117.3
134.0
152.0

96.5
100.5
100.7
103.7
107.4
110.7
113.2
118.1
133.5
153.4

96.9
100.3
100.6
103.9
108.1
110.5
113.6
117.6
133.2
156.2

97.3
100.0
100.8
104.0
109.0
110.9
114.0
118.4
134.5
159.4

98.1
99.7
101.0
104.1
109.1
110.7
114.8
119.6
135.6
159.1

94.6
98.8
99.3
101.4
104.5
109.5
111.5
114.7
122.9
141.9

95.9
99.0
99.6
102.4
106.1
109.5
112.8
115.6
127.5
145.5

96.4
99.9
100.4
103.2
107.1
110.0
113.1
117.4
132.0
151.6

97.4
100.0
100.8
104.0
108.7
110.7
114.1
118.5
134.4
158.2

96.1
99.4
100.0
102.7
106.6
109.9
112.9
116.6
129.2
149.3

159.0
167.6
176.5
188.1
208.5
239.3
264.8
278.3

158.6
167.6
178.2
189.1
210.4
241.8
267.7
277.0

160.0
168.7
179.0
191.7
212.4
243.4
270.3
277.3

161.1
168.6
180.3
192.8
213.4
244.4
270.8
276.9

162.5
169.0
180.4
194.8
214.8
246.6
272.1
280.0

164.1
169.3
181.1
196.3
217.1
251.0
272.8
281.5

165.7
169.6
182.1
196.4
219.7
254.1
272.9
282.6

166.8
170.0
182.7
198.3
224.2
255.1
274.2
283.0

168.2
171.2
183.5
199.6
226.6
256.9
275.3
284.4

168.8
172.5
185.0
201.0
229.9
258.6
275.9
286.2

168.9
173.8
185.6
203.6
232.2
259.9
277.0
287.0

159.0
167.9
176.4
187.9
208.3
238.8
264.9
277.8

161.2
168.8
179.9
193.1
213.5
244.8
271.1
278.1

165.5
169.6
182.0
197.0
220.3
253.4
273.3
282.4

168.6
172.5
184.7
201.4
229.6
258.5
276.1
285.9

163.6
169.7
180.7
194.9
217.9
248.9
271.3
280.9

1.3
-.7
-.3
1.1
.2
-.5
-.2
0

0.1
-.5
.8
.2
-.2
0
0

334c. Change in producer price index, finished consumer goods, over 1-month spans4
[Percent]

1947
1948
1949
1950
1951
1952
1953
1954
1955
1956
1957
1958
1959
1960
1961
1962
1963
1964
1965
1966
1967
1968
1969
1970
1971
1972
1973
1974
1975
1976
1977
1978
1979
1980
1981
1982

Annual

IV Q

y_

Average for period

-0.9
-1.2
.4
1.7
0
-.2
-.6

0
-.2
0
-.2
.1
-.1
0

-0.3
.6
-.5
.7
.2
-.2
.2
.1

.2
.2
.4
0
-.1
0
.4
.1
-.2
-.7

-.4
.6
-.1
1.2
-.2
1.0
-.5
-.3
-.6
.1

-.6
.9
.1
.3
-.2
-.1
-.5
0
.5
-.1

.7
.4
.4
-.2
0
.1
-.1
-.3
.2
.2

-1.0
-.3
.3
-.2
-.3
.3
.2
0
0
.1

.2
-.1
.2
-.2
-.3
-.1
.3
.6
-.2
0

.4
.3
-.3
.3
.5
.1
.2
-.1
2.6

.3
-.4
.1
.1
.9
-.3
.4
.6
.7
1.0

.4
-.5
.8
.3
.6
.3
.4
.5
1.3
-.5

-.1
.4
-.1
.3
.1
.1
-.5
.5
-.4
2.7

.2
1.3
.3
.1
.2
-.2
.7
.4
4.4
1.7

.4
-.2
-.1
.2
.7
-.2
.4
-.4
-.2
1.8

.7
-.1
.7
.6
.5
.4
.2

.9
.2
.1
1.0
.7
.9
.5
1.1

1.0
.2
.4
.8
1.1
1.8
.3
.5

1.0
.2
.6
.1
1.2
1.2
0
.4

.7
.4
.7
1.1
.7
.4
.5

-.2
.6
-.1
-.2
.5
.4
1.2
2.2
-.3
-.5
1.2
.8
1.2
1.7
1.0
.1

-.3
0
1.0
.5
.9
1.0
1.1
-.5

.9
.7
.4
1.4
1.0
.7
1.0
.1

0
.5
-.1
.5
-.3
-.2
.1
-.6

-0.1
.3
-1.0
2.1
-1.0
.4
.2
.2

1.0
.2
-.2
1.9
-.2
-.1
-.1
-.1

1.4
-.5
-.2
.9
-.1
-.4
.7
-.7

1.0
-.5
-.2
.5
.5
-.2
-.4
-.1

1.2
-.8
-.1
1.0
.1
-.3
-.4
.2

1.7
-.7
-.6
1.9
.1
-1.0
.1
-.1

0.4
-.7
.1
1.1
-.2
0
0

0.6
-.4
.4
.1
-.2
0
0

.2
.7
-.2
.1
1.2
0
-.3

-.2
.2
.4
-.3
-1.0
.7
-.1
-.8
.1
0

.2
.4
.4
-.1
-.4
.2
.1
.1
.1
-.1

.1
.2
.4
0
.3
-.3
.4
-.3
-.2
-.1

0
.2
.1
.5
-.1
.4
-.1
.1
-.3
0

.1
.4
.2
-.2
0
.1
-.4
-.2
.3
0

.4
-.3
.2
.1
.8
.4
.4
.7
1.0
2.0

.8
-.3
.2
.1
.1
-.2
.7
1.0
.8
-.2

.2
.4
-.2
.3
.2
A
0
1.6
1.9

.5
-.3
.4
.3
.7
0
.4
.4
.9
.4

.7
1.5
.7
.2
.6

.1
.8
.3
1.3
1.0
.5
.4
.3

-.1
-.3
.8
.6
1.1
1.4
1.0
0

.8
.3
.4
1.0
.7
.7
.6
.4

0.8
0
-.5
1.6
-.4
0

0
.3
.4
-A
.2
.1
-.3
0

-.1
.5
-.3

0
.2
.2
0
-.1
.2
-.1
0
0
0

0
.5
1.2
1.8

.1
.5
0
.5
.4
.5
1.2

.3
.1
.1
.3
.4
.1
.3
.3
1.1
1.3

.9
.2
.4
.6
1.4
1.1
.3
.3

.4
.8
.5
.9
1.2
.6
.3
.5

.5
.2
.5
.8
1.1
1.0
.5
.3

109

Year

Feb.

Jan.

Mar.

Monthly
June
July

May

Apr.

Aug.

Sept.

Oct.

Nov.

Dec.

334c. Chanfe■> producer price index, finished consumer goods, over 6-month spans4
[Annual rate, percent]
1947
1948
1949
1950
1951
1952
1953
1954
1955
1956
1957
1958
1959
1960
1961
1962
1963
1964
1965
1966
1967
1968
1969
1970
1971
1972
1973
1974
1975
1976
1977
1978
1979
1980
1981
1982

:...

Quarterly
IIQ
MQ

»Q

Average for period

10.2
-7.9

8.9

6.2

2.3

4.7

3.8

6.1
1.4

-7.3

-6.2

-6.7

-.7

1.0

13.8
-1.3
-3.5

12.0
-2.0
-2.4

3.2
7.1

-5.0
13.0
-2.2
-1.7

-4.5
14.0
-1.7
-1.5

-1.4
-3.8
14.7
-1.9
-1.8

-.4

0

.4

-3.7

-3.9

0

0

.7

11.0
-2.0
-2.0

-2.2

-2.0

-1.1

-1.1

-.2
-.4

-3.3
-1.6

1.6

0

.7

.7
1.8
2.7
3.5
-.4
2.4

-.9
3.2
2.0
3.2
-.6
3.0

.7
3.9
2.4
1.9
-.6
2.6

1.6
-.9
-.5
2.9
2.2

1.4

.4

-.2
.2

7.6
1.3
-.4
-.2
-.4

-4.9
10.9
-2.4

13.0
-3.6
-4.8
18.0
-1.1
-3.3

-1.3

.2
2.7
3.3

-.9
2.2
3.3

.9
3.1
3.3

.9
4.3
2.8

1.6
2.7
5.7

-1.1
-1.3

-1.9
-1.7

-1.5
-1.1

-1.3

-1.1

-1.7

1.9

-1.9

-3.3

-2.9

-.2
.6
1.7
.9
.6
.4

.4
1.7
1.3
-.8
-.4
.4

0
.6
1.3

-2.7

-2.1

-.8
-.2
.2

1.7
1.3
1.1
-.6
.2

.2
3.0
2.4
2.9
-.5
2.7

-1.4

3.6
2.6

-3.9

.2

0
.8

-1.2

-.2

-.1
.4
.2

2.1
.1
1.0
.2
.7

3.3
3.2
-.7
3.1
4.1
1.4
3.9
2.5

3.7
2.1
2.3
3.6
5.1
.9
2.8
4.7

3.1
2.1
2.3
3.2
5.0
2.2
2.3
5.2

15.8
17.2

15.4
14.2

3.8
.2
8.7
9.3
12.4
13.7
10.0

.9

.6

-2.1

-1.3

-.2

-.6

-2.6

-.7
0
.4

9.3

18.4
-5.6
-2.9
17.4

-1.8

-1.8

3.4
2.9
.9

2.7
2.4
.4

-1.1

-1.5

3.0

2.8

1.3
.9

-2.1
-1.7

-2.3

-1.9

-1.1

0
-.8

-.6
0
.6

1.9
1.1
.9

.9
1.1
.9

2.6
.2
1.1
.2
.9

3.6
1.4
1.2
4.0
4.8
.2
2.7
4.2

4.1
2.4
2.2
3.0
5.4
.2
3.3
4.2

3.4
2.4
3.5
3.8
5.0
2.2
2.5
5.8

2.7
1.8
2.6
3.4
5.4
1.6
2.1
4.8

2.9
2.0
2.8
3.4
5.3
2.9
2.1
4.9

3.8
2.5
1.6
2.9
4.4
2.0
2.8
5.9

4.2
1.2
1.6
2.9
5.1
2.6
3.2
7.0

-1.7

13.9
-8.3
-1.7
16.8

2.3
5.2

3.2
3.5
-1.2

3.2
2.7
2.8
3.5
2.3

3.0
4.3
.6
3.5
2.8

4.3
.8
1.0
3.2
5.3
.9
4.6
2.5

15.5
18.2

15.6
18.2

16.2
15.1

13.0
14.9

20.0
13.8

13.2
14.0

11.0
16.4

11.6
18.9

10.7
19.6

17.9
14.0

13.1

12.9
15.9

9.4

6.9

4.9
.6
9.3
9.1

2.1
-.2
9.2
8.6

4.3
.1
7.7

5.9
1.1
7.8

10.6

10.5

2.9
5.1

8.0
5.8
5.8
9.2

1.0
9.9
7.1

13.2
15.4
10.7

12.7
13.0

11.0
12.8

10.0
13.5
11.3

9.8
4.7
5.3
8.7

2.3
8.3
6.7

10.7
11.0
13.7

3.0
5.1
8.4

5.3
6.1
6.2

10.2
11.3
12.8

8.6
2.4
6.4
9.0

13.8
11.4

16.1
12.0

16.9
11.1

10.2
17.6

12.7
18.6

9.6
2.2

8.2
2.5

6.2
3.1

4.9
4.4

3.7
5.2

3.8
6.8

3.6
5.1

8.6
4.0
.6

12.6
16.3
10.1

9.7
.7

9.1
3.8
1.1

335. Producer price index, industrial commodities

[1967=100]

9.5

10.9
-7.9
-1.2
14.2

-2.0

1.5

Annual

IV 0

5.5

5.9

-1.8

-3.0

2.2
2.5
4.3
3.9
2.7
8.7

2.2
2.1
3.9
2.0
2.8

8.4

3.6

-7.1

-5.5
10.5
-1.1

1.2

2.1
-.7

-.9
.5
-.3
3.0
2.5
-.1
-.4
2.2

-1.2
-4.4
15.6
-1.6
-2.2

14.4
-7.3
-1.9
16.1

0.9
-4.7
10.8

0

2.1

-3.6

-2.2

-1.8

-.4
-.5

-.4
-.5

-.7
2.8
3.1

1.1
3.4
3.9

-1.5
-1.4

-1.4

-.2
3.0
3.0
0
-.6
2.0
-.8
0
-.1
.3

.5

.1
1.0
1.4
-1.3

.1
.5
5.2
2.0
2.5
4.4
2.8
2.9
9.5

3.8
1.5
1.5
3.1
4.7
1.8
3.0
5.5

11.1
18.3

15.6
10.1

14.5
15.0

8.4
2.1
6.4
9.9

9.4
4.5
5.4
8.8

2.9
8.1
6.7

6.1
3.7
6.8

11.8
12.6

15.6
11.5

11.8
17.5

10.0
14.3
11.8

1.5

6.4
3.3

3.7
5.7

®

-1.2

9.3
3.3
.3

5.9
2.7

Average for period

1947
1948
1949
1950
1951
1952
1953
1954

68.2
75.8
77.9
74.6
86.6
84.9
84.0
85.1

68.6
75.4
77.2
74.8
87.1
84.9
84.0
84.9

69.5
75.4
76.8
74.8
87.1
84.6
84.3
84.9

69.8
75.8
75.8
74.9
87.0
84.2
84.1
85.0

69.7
75.8
74.9
75.4
86.7
83.9
84.4
85.0

69.8
76.2
74.4
75.9
86.4
83.6
84.7
84.9

70.3
76.9
74.1
77.1
86.0
83.5
85.3
84.9

71.2
77.8
74.3
78.6
85.3
83.9
85.3
84.9

72.0
78.1
74.3
80.4
85.3
84.1
85.2
84.9

72.7
78.2
74.3
81.8
85.1
83.9
85.1
85.0

73.6
78.4
74.3
82.9
85.0
83.8
85.0
85.3

74.6
78.3
74.4
84.8
85.1
83.9
85.1
85.3

68.8
75.5
77.3
74.7
86.9
84.8
84.1
85.0

69.8
75.9
75.0
75.4
86.7
83.9
84.4
85.0

71.2
77.6
74.2
78.7
85.5
83.8
85.3
84.9

73.6
78.3
74.3
83.2
85.1
83.9
85.1
85.2

70.8
76.9
75.3
78.0
86.1
84.1
84.8
85.0

1955
1956
1957
1958
1959
1960
1961
1962
1963
1964

85.6
89.5
93.0
93.7
94.7
95.7
95.2
95.0
94.7
95.3

86.0
89.6
93.2
93.4
94.9
95.6
95.2
94.8
94.6
95.2

85.9
89.9
93.1
93.4
95.2
95.6
95.2
94.8
94.6
95.1

86.0
90.3
93.1
93.2
95.3
95.6
95.1
94.9
94.4
95.1

85.8
90.4
93.0
93.1
95.4
95.2
94.8
94.9
94.5
95.1

85.9
90.3
93.0
93.1
95.2
95.2
94.6
94.7
94.7
94.9

86.5
90.2
93.4
93.3
95.4
95.2
94.6
94.8
94.8
95.1

87.3
91.0
93.6
93.7
95.4
95.2
94.6
94.6
94.8
95.1

88.1
91.4
93.6
93.8
95.4
95.0
94.7
94.8
94.7
95.1

88.4
91.8
93.5
93.9
95.4
95.1
94.5
94.7
94.9
95.5

88.7
92.3
93.5
94.2
95.5
95.0
94.7
94.7
94.9
95.6

89.0
92.7
93.7
94.5
95.6
95.0
94.9
94.7
95.2
95.8

85.8
89.7
93.1
93.5
94.9
95.6
95.2
94.9
94.6
95.2

85.9
90.3
93.0
93.1
95.3
95.3
94.8
94.8
94.5
95.0

87.3
90.9
93.5
93.6
95.4
95.1
94.6
94.7
94.8
95.1

88.7
92.3
93.6
94.2
95.5
95.0
94.7
94.7
95.0
95.6

86.9
90.8
93.3
93.6
95.3
95.3
94.8
94.8
94.7
95.2

1965
1966
1967
1968
1969
1970
1971
1972
1973
1974

95.9
97.4
99.5
101.5
104.3
108.3
112.2
115.9
120.0
135.3

95.9
97.6
99.7
102.0
104.9
108.6
112.5
116.5
121.3
138.2

96.0
97.8
99.7
102.2
105.4
108.8
113.0
116.8
122.8
142.4

96.0
98.1
99.6
102.4
105.5
109.3
113.4
117.3
124.2
146.6

96.2
98.5
99.7
102.3
105.5
109.6
113.8
117.6
125.3
150.5

96.4
98.7
99.7
102.4
105.6
109.9
114.0
117.9
126.0
153.6

96.4
99.0
99.7
102.4
105.7
110.1
114.6
118.1
126.1
157.8

96.6
99.0
100.0
102.5
106.1
110.2
115.3
118.5
126.7
161.6

96.6
99.0
100.2
102.8
106.5
110.4
115.1
118.7
127.4
162.9

96.7
99.1
100.5
103.3
107.1
111.2
115.1
118.8
128.5
164.8

97.1
99.2
100.8
103.4
107.4
111.3
115.0
119.1
130.1
165.8

97.1
99.2
101.1
103.8
107.8
111.7
115.5
119.4
132.2
166.1

95.9
97.6
99.6
101.9
104.9
108.6
112.6
116.4
121.4
138.6

96.2
98.4
99.7
102.4
105.5
109.6
113.7
117.6
125.2
150.2

96.5
99.0
100.0
102.6
106.1
110.2
115.0
118.4
126.7
160.8

97.0
99.2
100.8
103.5
107.4
111.4
115.2
119.1
130.3
165.6

96.4
98.5
100.0
102.5
106.0
110.0
114.1
117.9
125.9
153.8

1975
1976
1977
1978
1979
1980
1981
1982

167.5
177.4
188.4
201.6
220.0
260.6
291.5
311.8

168.4
178.1
190.0
202.9
222.5
265.9
295.7
311.6

168.9
179.0
191.7
204.1
225.4
268.6
299.6
311.0

169.7
180.1
193.3
206.1
229.0
271.3
303.5
309.9

170.3
180.5
194.2
207.4
231.6
271.9
304.7
309.6

170.7
181.5
194.7
208.7
234.0
273.5
305.1
310.6

171.2
182.7
195.9
210.2
237.5
276.2
306.2
312.8

172.2
183.8
196.9
211.4
240.6
278.2
307.2
313.2

173.1
184.8
197.8
212.5
244.2
278.8
307.4
312.7

174.7
186.3
199.1
214.7
249.0
282.0
309.0
314.3

175.4
187.1
199.3
216.0
250.6
283.4
309.3
315.0

176.1
187.4
200.0
217.2
253.1
286.6
310.0
315.2

168.3
178.2
190.0
202.9
222.6
265.0
295.6
311.5

170.2
180.7
194.1
207.4
231.5
272.2
304.4
310.0

172.2
183.8
196.9
211.4
240.8
277.7
306.9
312.9

175.4
186.9
199.5
216.0
250.9
284.0
309.4
314.8

171.5
182.4
195.1
209.4
236.5
274.8
304.1
312.3

1947
1948
1949
1950
1951
1952
1953
1954

3.0
1.6
-.5
.3
2.1
-.2
1
0

0.6
-.5
-.9
.3
.6
0
0
-.2

1.3
0
-.5
0
0
-.4
.4
0

1.2
.3
0
1.3
-.1
-.1
-.1
.4

1.4
-.1
.1
2.3
.1
.1
.1
0

.4
.6
.3
0
.2
.1
.2
.1
0
.1

.5
.1
.2
-.3
.2
-.1
0
-.2
-.1
-.1

-.1
.3
-.1
0
.3
0
0
0
0
-.1

.1
.4
0
-.2
.1
0
-.1
.1
-.2
0

.3
.5
0
.3
.1
-.1
.2
0
0
.1

.3
.4
.2
.3
.1
0
.2
0
.3
.2

1.6
.4
-.6
.2
.9
-.2
.2
-.1
.3
.3
.1
-.1
.2
0
.1
0
0
0

0.1
.3

1955
1956
1957
1958
1959
1960
1961
1962
1963
1964

1.0
.1
0
1.7
-.2
-.2
-.1
.1
.3
.4
-.1
.1
0
.1
-.2
-.1
.2
.4

.5
-.2
-.4
.2
0
0
.1
0
-.1
0
-.1
-.2
0
0
-.1

1.0
.8
0
1.9
-.4
.2
.2
0
.8
.4
.2
.2
.1
-.1
0
0
0
.1

1.2
.1
0
1.8
-.1
-.1
0
.2
.3
.4
0
.2
.1
0
.1
0
.2
.2

1.0
.4
-.4
1.1
0
-.1
.1
0
.4
.3
.1
.1
.1
0
0
0
0
0

1965
1966
1967
1968
1969
1970
1971
1972
1973
1974

.1
.3
.3
.4
.5
.5
.4
.3
.5
2.3

0
.2
.2
.5
.6
.3
.3
.5
1.1
2.1

.1
.2
0
.2
.5
.2
.4
.3
1.2
3.0

0
.3
-.1
.2
.1
.5
.4
.4
1.1
2.9

.1
.3
0
.1
.1
.4
.3
.3
.9
2.6
.4
.5
.5
.7
1.2
.6
.6
-•1

.1
.1
.2
.1
.3
.2
.3
.2
.4
2.0
.5
.6
.5
.6
1.4
.6
.3
.2

.2
.1
.3
.3
.4
.4
.1
.2
1.2
.7
.6
.5
.4
.7
1.2
.9
.3
.3

.1
.2
.2
.2
.3
.3
.3
.3
.9
1.9
.5
.5
.6
.7
1.3
1.0
.6
.1

335c. Change in producer price index, industrial commodities, ova 1-month spans <$£*
[Percent]

1975
1976
1977
1978
1979
1980
1981
1982

.8
.7
.5
.8
1.3
3.0
1.7
.6

110



.5
.4
.8
.6
1.1
2.0
1.4
-.1

.3
.5
.9
.6
1.3
1.0
1.3
-.2

1.3
1.2
.3
1.9
-.8
.5
0
0

0
.1
0

0
0
-.2
0
-.2
-.2
.2
-.2

.7
-.1
.4
.2
.2
0
0
.1
.1
.2

.9
.9
.2
.4
0
0
0
-.2
0
0

1.1
.4
0
2.3
0
.2
-.1
0
.9
.4
0
.1
0
-.2
.1
.2
-.1
0

.2
.4
.1
-.1
0
.3
.4
.3
.9
2.7

.2
.2
0
.1
.1
.3
.2
.3
.6
2.1

0
.3
0
0
.1
.2
.5
.2
.1
2.7

.2
0
.3
.1
.4
.1
.6
.3
.5
2.4

0
0
.2
.3
.4
.2
-.2
.2
.6
.8

.1
.1
.3
.5
.6
.7
0
.1
.9
1.2

.4
.1
.3
.1
.3
.1
-.1
.3
1.2
.6

0
0
.3
.4
.4
.4
.4
.3
1.6
.2

.6
.6
.5
.6
1.3
.7
.3
.1

.5
.5
.5
.5
1.5
.2
.1
-.2

.9
.8
.7
1.0
2.0
1.1
.5
.5

.4
.4
.1
.6
.6
.5
.1
.2

.4
.2
.4
.6
1.0
1.1
.2
.1

-0.1

-1.3

-1.2

.1
-.1
-.5
-.2
.1

.7
-.3
-.4
.4
0
-2

.5
.6
.8
1.0
1.6
1.0
1.3
-.4

Average for period

0.7
.9
-.4
1.6
-.5
-.1
.7
0

0.4
.5

0.1

0
-.7
-.3
-.4
-.1
-1

-.1
-.1
-.4
- 3

.4
.2
.5
.6
1.1
.2
.4
-.1

.2
.6
.3
.6
1.0
.6
.1
.3

.3
.7
.6
.7
1.5
1.0
.4
.7

.1
.2
.2
.4
.5
.3
.4
.4
1

-9

2.5
•5
.5
■7
•7
1.2
2.0
1.5
1

-1.1

Year

Monthly
Jan.

Feb.

Mar.

Apr.

May

June

Quarterly

July

Aug.

Sept.

Oct.

Nov.

Dec.

IQ

IIQ

335c. Change in producer price index, industrial commodities, over 6-month spans <$
[Annual rate, percent]

HI 0

IV Q

Annual

Average for period

-.9
.2
-.9
2.6

9.7
-3.3
1.4
17.4
-1.6
.5
-.7
2.4

19.3
6.4
-8.1
2.9
8.8
-2.7
1.3
-.2

7.1
5.6
-7.8
10.9
-3.2
-2.3
2.8
-.2

11.4
6.3
-1.8
21.7
-3.7
-.1
1.6
.5

12.7
-.7
1.4
22.1
-1.7
.6
-.7
2.2

12.6
4.4
-4.1
14.4
0
-1.1
1.2
.6

7.1
6.3
.6
3.0
.6
0
.8
-.2
1.1
1.7

5.3
4.9
-.4
2.6
.4
0
.4
0
.8
1.7

4.1
3.8
-.4
3.0
.4
.4
.2
-.4
.8
1.9

1.7
3.7
1.7
*-.9
2.4
-.3
-.4
.3
-.3
.1

3.4
2.7
1.0
.2
1.0
-1.0
-1.2
-.3
.3
-.2

6.6
4.3
1.2
2.3
.4
-.6
-.3
-.3
1.0
1.3

5.5
5.0

4.3
3.9
.9
1.1
1.1
-.5
-.4

1.5
1.0
2.8
2.8
4.2
3.3
2.6
2.6
10.1
16.9

2.1
1.0
3.6
3.7
5.0
3.9
2.3
3.2
15.1
12.7

2.1
1.4
4.0
4.7
4.8
4.2
2.1
4.8
19.0
8.6

2.5
1.4
4.0
5.1
4.4
4.8
3.0
7.0
24.9
7.5

1.2
3.0
1.0
3.1
4.0
4.1
4.2
4.2
10.5
33.0

1.3
2.9
.7
1.3
2.4
3.1
4.4
3.5
9.0
34.5

1.6
1.5
2.3
2.3
3.6
3.3
2.6
2.6
8.3
21.6

2.2
1.3
3.9
4.5
4.7
4.3
2.5
5.0
19.7
9.6

1.6
2.2
2.0
2.8
3.7
3.7
3.4
3.8
11.9
24.7

6.4
6.6
5.5
8.3
17.0
9.8
3.2
3.0

7.4
6.3
5.9
9.6
20.4
11.4
3.7
.7

7.0
6.9
6.2
10.8
22.1
13.0
2.9
.4

6.9
7.6
6.5
12.5
21.0
15.5
2.4
.4

5.7
6.1
7.8
8.1
15.0
17.7
14.9
.4

4.7
6.4
7.3
8.5
16.9
9.8
7.8
.9

6.2
7.0
5.6
8.4
17.4
8.8
3.3
3.1

7.1
6.9
6.2
11.0
21.2
13.3
3.0
.5

5.9
6.6
6.7
9.0
17.6
12.4
7.3
1.2

1947
1948
1949
1950
1951
1952
1953
1954

28.8
8.7
-6.0
1.6
13.1
-2.1
5
-.2

17.9
6.1
-8.7
3.0
9.4
-2.6
1.4
0

11.2
4.3
-9.7
4.1
3.8
-3.5
1.9
-.5

6.3
2.9
-9.5
6.8
-1.4
-3.3
3.1
-.5

7.7
6.5
-7.4
10.4
-4.1
-2.3
3.1
0

7.3
7.3
-6.4
15.5
-4.1
-1.2
2.1
0

8.5
6.4
-3.9
19.3
-4.3
-.7
2.4
0

11.5
7.0
-1.6
20.9
-3.9
-.2
1.4
.7

14.2
5.6
0
24.8
-3.0
' .7
.9
.9

16.3
2.6
1.4
26.2
-2.5
1.2
-.5
1.7

12.1
-1.5
1.4
22.8

1955
1956
1957
1958
1959
1960
1961
1962
1963
1964

2.4
4.3
2.9
-.6
3.0
4
0
8
-.6
4

1.2
3.9
1.5
-.9
2.6
-.6
-.4
.4
-.4
.4

1.4
2.9
.6
-1.3
15
-.4
0
-.6

2.1
1.6
.9
-.9
1.5
-1.0
-1.3
-.4
.2
-.4

3.0
3.1
.9
.6
1.1
-.8
-1.3
-.4
.4
-.2

5.2
3.4
1.1
.9
.4
-1.3
-1.0
0
.2
0

5.7
3.3
.9
1.5
.2
-1.0
-1.3
-.4
1.1
.8

6.9
4.2
1.1
2.4
.2
-.4
-.2
-.4
.8
1.1

7.3
5.4
1.5
3.0
.8
-.4
.6
0
1.1
1.9

1965
1966
1967
1968
1969
1970
1971
1972
1973
1974

1.0
2.9
1.0
3.8
4.3
4.2
4.0
3.9
9.3
30.2

1.3
2.9
1.0
3.0
4.1
4.1
4.5
4.6
10.7
33.8

1.3
3.3
1.0
2.6
3.5
3.9
4.2
4.2
11.4
35.0

1.0
3.3
.4
1.8
2.7
3.4
4.3
3.8
10.4
36.0

1.5
2.9
.6
1.0
2.3
3.0
5.0
3.5
9.1
36.7

1.3
2.5
1.0
1.2
2.1
3.0
3.8
3.3
7.6
30.9

1.5
2.0
1.8
1.8
3.1
3.5
3.0
2.6
7.0
26.4

1.9
1.4
2.2
2.2
3.6
3.1
2.1
2.6
7.8
21.4

1975
1976
1977
1978
1979
1980
1981
1982

6.0
6.3
7.7
7.2
13.8
18.7
15.8
.6

5.5
5.9
7.7
8.3
15.0
17.7
15.6
.2

5.6
6.2
7.9
8.9
16.1
16.8
13.3
.4

4.5
6.1
8.1
8.6
16.5
12.3
10.3
.6

4.6
6.5
7.4
8.6
16.9
9.5
7.9
1.0

5.0
6.6
6.5
8.4
17.4
7.7
5.3
1.1

6.0
7.0
6.1
8.5
18.2
8.0
3.7
2.9

6.1
7.4
5.3
8.5
17.1
8.6
3.0
3.5

340. Index of average hourly earnings of production or mnsupervisory workers on private nonafricurtural payrofc
[1977=100]

2.9
.5
.1
.5
-.2
.9
1.8

.5
.7

Average for period

1947
1948
1949
1950
1951
1952
1953
1954

21.6
23.4
24.5
25.4
27.3
28.7
30.3
31.4

1955
1956
1957
1958
1959
1960
1961
1962
1963
1964

44.2

44.3

44.5

44.6

44.7

44.8

45.0

45.1

45.2

45.3

45.5

44.3

44.6

45.0

45.3

32.4
34.0
35.7
37.2
38.5
39.8
41.1
42.4
43.6
44.8

1965
1966
1967
1968
1969
1970
1971

45.6
47.5
49.6
52.4
55.7
59.4
63.8

45.8
47.7
50.0
52.9
56.4
60.2
64.4
68.7
72.7
77.6

45.9
48.0
50.2
53.2
56.6
60.4
64.8
69.2
73.3
78.2

46.2
48.1
50.4
53.5
57.0
60.7
65.3
69.3
73.4
79.0

46.3
48.3
50.6
53.8
57.4
61.1
65.6
69.4
73.8
80.0

46.4
48.4
50.9
54.0
57.6
61.5
65.9
69.8
74.3
80.2

46.5
48.5
51.0
54.2
57.9
61.9
66.2
70.1
74.4
80.9

46.7
48.8
51.3
54.6
58.2
62.3
66.5
70.5
75.2
81.8

46.9
49.0
51.5
54.9
58.6
62.5
66.6
71.0
75.4
82.3

47.0
49.2
51.8
55.2
59.0
62.8
66.8
71.2
75.8
82.7

47.1
49.4
52.0
55.5
59.2
63.1
67.6
71.8
76.4
83.4

45.7
47.6
49.8
52.7
56.1
59.8
64.1
68.4
72.4
77.2

46.1
48.1
50.4
53.5
57.0
60.7
65.2
69.3
73.5
79.1

46.5
48.6
51.1
54.3
57.9
61.9
66.2
70.1
74.6
81.0

47.0
49.2
51.8
55.2
58.9
62.8
67.0
71.3
75.9
82.8

46.4
48.4
50.8
53.9
57.5
61.3
65.7
69.8
74.1
80.0

85.1
90.8
97.7
105.4
114.1
124.1
135.8
145.5

85.2
91.4
98.4
106.4
114.9
124.8
136.7
146.4

85.8
92.1
99.1
107.0
115.3
125.7
137.5
147.5

86.5
92.3
99.5
107.6
116.1
126.9
138.2
148.0

93.0
100.2
108.5
117.0
127.7
139.0
148.8

87.5
93.9
100.6
108.9
117.6
128.5
140.4
149.6

87.9
94.4
101.3
109.8
118.8
129.4
141.4
150.0

88.4
94.9
102.2
110.7
119.1
130.7
141.9
150.7

89.2
95.5
102.6
111.2
120.2
132.0
143.0
151.1

89.4
96.1
103.2
112.0
121.3
132.5
143.3
151.9

84.4
90.4
97.3
104.9
113.5
122.9
134.9
145.2

85.8
91.9
99.0
107.0
115.4
125.8
137.5
147.3

87.4
93.8
100.7
109.1
117.8
128.5
140.3
149.5

89.0
95.5
102.7
111.3
120.2
131.7
142.7
151.2

86.7
92.9
100.0
108.2
116.8
127.3
138.9
148.3

1972

68.2

1973
1974

72.1
76.7

45.8
47.6
49.9
52.7
56.1
59.8
64.2
68.4
72.4
77.2

1975
1976
1977
1978
1979
1980
1981
1982

83.7
89.9
96.8
104.4
112.9
121.8
133.8
144.9

84.4
90.5
97.3
104.8
113.6
122.8
135.0
145.1

340c. Change in index of average hourly earnings over 1-month spans4
[Percent]

Average for period

1947
1948
1949
1950
1951
1952
1953
1954
1955
1956
1957
1958
1959
1960
1961
1962
1963
1964
1965
1966
1967
1968
1969
1970
1971
1972
1973
1974

0.1
8
5
8
3
5
1.0
1.0
5
4

1975
1976
1977
1978
1979
1980
1981
1982

3
6
8
1.2
8
4
1.0
1.1

footnotes at end of this part.




0.2

0.2

0.2

0.3

0.1

0.3

0.4

0.3

0.2

0.3

0.4

.4
.2
.4
.5
.7
.6
.7
.3
.4
.7

.2
.3
.2
.5
.6
.6
.3
.4
.4
.6

.2
.6
.6
.5
.4
.3
.6
.6

.5
.3
.3
.5
.7
.6
.8
.2
.2

.2
.4
.5
.6
.6
.6
.3
.2
.6
1.2

.2
.2
.5
.4
.4
.6
.5
.6
.6
.3

.3
.2
.2
.4
.4
.8
.5
.4
.2
.9

.4
.7
.5
.7
.6
.6
.4
.5
1.0
1.1

.5
.4
.5
.5
.7
.3
.2
.8
.3
.6

.1
.3
.5
.6
.7
.6
.3
.3
.6
.5

.3
.4
.4
.5
.2
.5
1.2
.8
.7
.9

.3
.4
.6
.7
1.0
.5
.4

.4
.7
.7
.8
.8
.6
.5
.5

.8
1.0
.4
.4
.5
.7
1.0
.5

.4
.6
.7
.9
1.0
.7
.7
.3

.6
.5
.9
.8
.3
1.0
.3
.4

.9
.6
.4
.4
.8
1.0
.8
.3

.6
.8
1.0
.4
.3
.6

.9
.4
.4
.6
.4
1.0

0.2

0.3

0.3

0.2
.4
.4
.6
.5
.6
.7
.6
.4
.6

.3
.4
.5
.5
.6
.5
.6
.3
.5
1.0

.3
.4
.4
.5
.5
.7
.5
.5
.6
.8

.3
.4
.5
.5
.5
.5
.6
.6
.5
.7

0.3
.4
.4
.5
.5
.6
.6
.5
.5
.8

.7
.5
.6
.7
.6
.8

.5
.5
.6
.7
.6
.8
.6
.6

.5
.8
.6
.7
.8
.7
.7
.4

.6
.6
.6
.7
.7
.8
.5
.4

.6
.6
.6
.7
.7
.8
.7
.5

Ill

Year

Monthly
Jan.

Feb.

Mar.

Apr.

May

June

Quarterly

July

Aug.

Sept.

Oct.

Nov.

Dec.

340c. Change in index of average hourly earnings over 6-month spans4
[Annual rate, percent]

IV Q

!UL

19

Annual

Average for period

1947
1948
1949
1950
1951
1952
1953
1954
1955
1956
1957
1958
1959
1960
1961
1962
1963
1964

2.6

3.0

3.3

3.3

3.3

3.9

3.4

3.5

3.3

3.0

3.5

3.4

1965
1966
1967
1968
1969
1970
1971
1972
1973
1974

3.3
4.6
4.9
6.5
6.5
6.0
7.7
7.8
6.4
7.6

3.7
5.0
4.8
6.6
6.6
5.8
8.1
7.7
6.2
8.6

3.4
5.3
5.1
6.9
6.8
6.7
7.8
5.6
5.8
9.7

3.5
4.0
5.2
6.2
7.0
6.9
6.7
4.8
6.1
9.5

3.3
4.0
4.7
6.1
6.4
7.2
6.3
5.0
5.7
10.0

3.7
4.8
5.3
6.5
6.6
7.2
6.4
5.2
6.9
11.0

4.3
4.5
5.2
6.5
7.2
7.1
5.6
5.5
6.0
10.7

3.4
4.5
5.6
6.7
7.2
7.1
4.5
5.7
6.8
9.5

3.4
4.6
5.4
6.7
6.3
6.8
6.3
6.9
6.9
8.8

4.8
5.2
5.9
6.4
6.4
7.7
7.3
6.7
6.5
8.9

4.6
5.6
6.6
6.9
6.9
7.5
6.8
6.6
7.5
8.7

4.5
4.6
6.7
6.5
6.8
7.0
6.9
6.4
6.7
8.3

3.5
5.0
4.9
6.7
6.6
6.2
7.9
7.0
6.1
8.6

3.5
4.3
5.1
6.3
6.7
7.1
6.5
5.0
6.2
10.2

3.7
4.5
5.4
6.6
6.9
7.0
5.5
6.0
6.6
9.7

4.6
5.1
6.4
6.6
6.7
7.4
7.0
6.6
6.9
8.6

3.8
4.7
5.4
6.5
6.7
6.9
6.7
6.2
6.5
9.3

1975
1976
1977
1978
1979
1980
1981
1982

7.3
7.0
7.5
8.5
7.8
9.7
9.4
6.5

7.6
6.6
7.6
8.7
7.6
9.5
8.6
6.4
341.1

7.5
6.5
7.2
8.8
7.4
9.5
8.8
6.6

7.5
6.9
7.0
8.0
7.4
10.0
7.9
5.4

7.6
7.6
6.7
8.1
7.2
9.5
8.2
6.3

6.6
8.0
7.4
8.5
8.4
8.7
8.5
6.3

7.6
7.8
7.8
8.1
7.5
9.7
7.7
5.9

8.0
7.7
7.3
8.0
8.6
10.2
8.1
4.9

8.5
7.6
8.3
9.2
9.0
7.5
5.4

7.3
8.5
8.6
8.3
8.3
9.8
8.7
5.4

6.9
7.5
8.5
8.8
9.1
10.3
6.8
5.1

6.9
7.2
8.4
7.9
9.1
10.1
6.0
4.6

7.5
6.7
7.4
8.7
7.6
9.6
8.9
6.5

7.2
7.5
7.0
8.2
7.7
9.4
8.2
6.0

7.5
8.0
7.6
8.1
8.4
9.6
7.8
5.4

7.0
7.7
8.5
8.3
8.8
10.1
7.2
5.0

7.3
7.5
7.6
8.3
8.1
9.7
8.0
5.7

x of real average hourly earnings of production or mnsupervisory workers on private MnagricuMural payroll
[1977=100]

1947
1948
1949
1950
1951
1952
1953
1954
1955
1956
1957
1958
1959
1960
1961
1962
1963
1964
1965
1966
1967
1968
1969
1970
1971
1972
1973
1974
1975
1976
1977
1978
1979
1980
1981.
1982.
341c. Change in index of real average hourly earnings over 1-month spans4
[Percent]

Average for period

1947
1948
1949
1950
1951
1952
1953
1954
1955
1956
1957
1958
1959
1960
1961
1962
1963
1964

0.2

0.3

0.4

0.3

-0.2

0.1

0.2

1965
1966
1967
1968
1969
1970
1971
1972
1973
1974

-0.1
.6
.3
.4
0
0
.7
.7
-.1
-.6

.4
-.3
.3
.1
.3
0
.6
0
-.2
-.6

.4
0
.2
-.1
-.1
.3
.2
.3
.3
-.5

.3
-.3
-.2
.1
-.1
.5
.2
.1
-1.5
-.3

.2
.5
-.1
.2
0
.1
.2
.2
.5
-.3

.3
-.1
.5
.1
.4
-.3
.1
.3
-.5
-.2

-.1
.3
-.1
.1
.2
.3
0
-.1
-.2
-.4

-.1
.4
.1
.2
-.4
0
.7
.5
-.1
.1

0.2
.1
.3
.3
0
0
.5
.3
-.2
-.5

1975
1976
1977
1978
1979
1980
1981
1982

-.4
.3
.1
.6
-.1
-.9
.2
.9

.2
.4
-.4
-.2
-.4
-.4
.1
.1

-.6
.2
.2
0
-.3
.5
-.7
-.1

.5
.4
0
-.2
-.5
-.2
.2
.2

-.2
0
.2
0
-.1
-.3
-.3
.2

-.1
0
.5
-.2
-.7
-.1
-.1
-.1

.1
.2
-.2
-.3
-.2
-.1
.4
.4

-.3
.2
.1
.2
-.2
-.5
-.1
.8

.1
.3
-.1
.2
-.3
-.5
.1
.5

112



0.3

1
.2
.1
-.1
-.5
-.2
-.1
-.2

.3
.1
0
.1
-.1
.3
.2
.2
-.2
-.4

0.1
.1
.2
.2
0
.1
.3
.2
-.2
-.2

-.1
.2
.1
-.1
-.3
0
-.3
.1

0
.2
0
0
-.4
-.2
-.1
.2

Year

Quarterly

Monthly
Jan.

Feb.

Mar.

Apr.

May

June

July

Aug.

Sept.

Oct.

Nov.

Dec.

341c. Change in index of real average hourly earnings over 6-month spans4
[Annual rate, percent]

12

!UL

IV Q

Annual

Average for period

1947...
1948...
1949...
1950...
1951...
1952...
1953...
1954...
1955...
1956...
1957...
1958...
1959...
1960...
1961...
1962...
1963...
1964...

2.2

2.6

2.5

2.1

2.1

2.3

1.5

1.7

2.4

2.2

1.5

1965...
1966...
1967...
1968...
1969...
1970...
1971...
1972..
1973...
1974...

1.7
.7
3.8
2.1
.9
-.6
4.1
4.3
-.6
-3.5

1.8
1.2
3.2
2.5
1.3
-.4
4.2
4.6
-1.3
-3.0

1.0
1.8
2.8
2.8
1.2
.8
4.0
2.8
-1.6
-1.9

2.0
.5
2.6
1.8
1.1
1.3
2.9
2.1
-.8
-1.5

1.7
.6
1.7
1.7
.2
2.3
2.3
2.3
-3.5
-1.0

1.3
1.3
1.1
1.4
.8
2.3
2.3
2.2
-1.6
-.9

2.3
.7
1.5
1.4
1.3
1.9
1.9
1.9
-2.6
-1.6

1.8
1.1
1.2
1.3
1.1
2.0
1.1
1.5
-2.1
-2.5

1.9
1.5
.9
1.3
-.1
1.6
2.9
2.7
-2.9
-3.2

2.4
2.1
1.5
1.4
0
2.5
3.9
1.9
-4.7
-3.1

1.1
3.3
2.1
1.9
.2
2.7
3.4
1.3
-3.0
-2.1

1.0
2.7
2.9
.9
.4
2.9
3.5
-.1
-4.6
-.5

1.5
1.2
3.3
2.5
1.1
-.1
4.1
3.9
-1.2
-2.8

1.7
.8
1.8
1.6
.7
2.0
2.5
2.2
-2.0
-1.1

2.0
1.1
1.2
1.3
.8
1.8
2.0
2.0
-2.5
-2.4

1.5
2.7
2.2
1.4
.2
2.7
3.6
1.0
-4.1
-1.9

1.7
1.5
2.1
1.7
.7
1.6
3.0
2.3
-2.4
-2.1

1975..
1976..
1977..
1978...
1979..
1980...
1981...
1982...

-.7
2.2
0
.8
-3.0
-4.8
-.4
3.9

1.1
2.5
.1
.7
-3.9
-4.8
-.7
2.5

1.2
2.7
-.4
.1
-5.0
-4.5
.1
1.3

.7
2.6
-.3
-1.0
-5.4
-1.7
-1.7
-.7

-.2
1.2
2.4
2.7
1.2
.5
-1.0
-.9
-4.7
-5.5
-1.1
-1.3
-2.0
-1.5
-.9
-.3
441. Civlan labor force
[Thousands]

.3
1.6
2.2
-1.6
-5.6
-.4
-2.4
-1.5

-.4
1.5
1.3
-1.7
-4.5
-.2
-1.1
-.2

-1.2
2.2
1.6
-.9
-3.9
-1.2
-1.0
2.8

.6
2.1
2.4
-1.3
-5.2
-1.8
2.1
4.2

.5
.3
2.0
-1.8
-5.0
-1.3
1.8
5.1

1.2
.1
1.6
-2.9
-5.4
-.8
3.3
4.1

.5
2.5
-.1
.5
-4.0
-4.7
-.3
2.6

.6
2.6
.5
-1.0
-5.2
-1.4
-1.7
-.6

-.4
1.8
1.7
-1.4
-4.7
-.6
-1.5
.4

2.0
-2.0
-5.2
-1.3
2.4
4.5

.4
1.9
1.0
-1.0
-4.8
-2.0
-.3
1.7

Average for period

1947
1948
1949
1950
1951
1952
1953
1954

60,095
60,771
61,661
61,941
62,432
63,439
63,101

60,524
61,057
61,687
61,778
62,419
63,520
63,994

60,070
61,073
61,604
62,526
61,721
63,657
63,793

60,677
61,007
62,158
61,808
61,720
63,167
63,934

59,972
61,259
62,083
62,044
62,058
62,615
63,675

60,957
60,948
62,419
61,615
62,103
63,063
63,343

61,181
61,301
62,121
62,106
61,962
63,057
63,302

61,590
62,596
61,927
61,877
62,816
63,707

60,815
61,633
62,349
61,780
62,457
62,727
64,209

60,646
62,185
62,428
62,204
61,971
62,867
63,936

60,702
62.005
62,286
62,014
62,491
62,949
63,759

61,169
61,908
62,068
62,457
62,621
62,795
63,312

60,230
60,967
61,651
62,082
62,191
63,539
63,629

60,535
61,071
62,220
61,822
61,960
62,948
63,651

60,934
61,508
62,355
61,938
62,099
62,867
63,739

60,839
62,033
62,261
62,225
62,361
62,870
63,669

59,350
60,621
61,286
62,208
62,017
62,138
63,015
63,643

1955
1956
1957
1958
1959
1960
1961
1962
1963
1964

63,910
66,419
66,428
67,095
67,936
68,962
70,447
70,189
71,146
72,356

63,696
66,124
66,879
67,201
67,649
68,949
70,420
70,409
71,262
72,683

63,882
66,175
66,913
67,223
68,068
68,399
70,703
70,414
71,423
72,713

64,564
66,264
66,647
67,647
68,339
69,579
70,267
70,278
71,697
73,274

64,381
66,722
66,695
67,895
68,178
69,626
70,452
70,551
71,832
73,395

64,482
66,702
67,052
67,674
68,278
69,934
70,878
70,514
71,626
73,032

65,145
66,752
67,336
67,824
68,539
69,745
70,536
70,302
71,956
73,007

65,581
66,673
66,706
68,037
68,432
69,841
70,534
70,981
71,786
73,118

65,628
66,714
67,064
68,002
68,545
70,151
70,217
71,153
72,131
73,290

65,821
66,546
67,066
68,045
68,821
69,884
70,492
70,917
72,281
73,308

66,037
66,657
67,123
67,658
68,533
70,439
70,376
70,871
72,418
73,286

66,445
66,700
67,398
67,740
68,994
70,395
70,077
70,854
72,188
73,465

63,829
66,239
66,740
67,173
67,884
68,770
70,523
70,337
71,277
72,584

64,476
66,563
66,798
67,739
68,265
69,713
70,532
70,448
71,718
73,234

65,451
66,713
67,035
67,954
68,505
69,912
70,429
70,812
71,958
73,138

66,101
66,634
67,196
67,814
68,783
70,239
70,315
70,881
72,296
73,353

65,023
66,552
66,929
67,639
68,369
69,628
70,459
70,614
71,833
73,091

1965
1966
1967
1968
1969
1970
1971
1972
1973
1974

73,569
75,186
76,639
77,578
79,523
81,981
83,850
85,978
87,487
91,199

73,857
74,954
76,521
78,230
80,019
82,151
83,603
86,036
88,364
91,485

73,949
75,075
76,328
78,256
80,079
82,498
83,575
86,611
88,846
91,453

74,228
75,338
76,777
78,270
80,281
82,727
83,946
86,614
89,018
91,287

74,466
75,447
76,773
78,847
80,125
82,483
84,135
86,809
88,977
91,596

74,412
75,647
77,270
79,120
80,696
82,484
83,706
87,006
89,548
91,868

74,761
75,736
77,464
78,970
80,827
82,901
84,340
87,143
89,604
92,212

74,616
76,046
77,712
78,811
81,106
82,880
84,673
87,517
89,509
92,059

74,502
76,056
77,812
78,858
81,290
82,954
84,731
87,392
89,838
92,488

74,838
76,199
78,194
78,913
81,494
83,276
84,872
87,491
90,131
92,518

74,797
76,610
78,191
79,209
81,397
83,548
85,458
87,592
90,716
92,766

75,093
76,641
78,491
79,463
81,624
83,670
85,625
87,943
90,890
92,780

73,792
75,072
76,496
78,021
79,874
82,210
83,676
86,208
88,232
91,379

74,369
75,477
76,940
78,746
80,367
82,565
83,929
86,810
89,181
91,584

74,626
75,946
77,663
78,880
81,074
82,912
84,581
87,351
89,650
92,253

74,909
76,483
78,292
79,195
81,505
83,498
85,318
87,675
90,579
92,688

74,455
75,770
77,347
78,737
80,734
82,771
84,382
87,034
89,429
91,949

1975
1976
1977
1978
1979
1980
1981
1982

93,128
94,934
97,208
100,873
104,056
106,546
108,012
109,034

92,776
94,998
97,785
100,837
104,472
106,637
108,175
109,364

93,165
95,215
98,115
101,092
104,557
106,394
108,471
109,478

93,399
95,746
98,330
101,574
104,156
106,552
108,866
109,740

93,575
93,884
94,021
95,885
95,847
96,583
99,093
98,665
98,913
102,371
101,896
102,399
104,174
104,635
104,999
106,892
106,832
107,169
109,101
108,440
108,602
110.378
110,147
110,416
442. Civian employment
[Thousands]

94,162
96,741
99,366
102,511
105,110
107,116
108,762
110,614

94,202
96,553
99,453
102,795
105,549
107,148
108,375
110,858

94,267
96,704
99,815
103,080
105,718
107,438
109,028
110,752

94,250
97,254
100,576
103,562
105,838
107,596
109,254
111,042

94,409
97,348
100,491
103,809
106,313
107,446
109,066
111,129

93,023
95,049
97,703
100,934
104,362
106,526
108,219
109,292

93,619
95,826
98,696.
101,947
104,322
106,759
108,802
110,088

94,128
96,626
99,244
102,568
105,219
107,144
108,580
110,629

94,309
97,102
100,294
103,484
105,956
107,493
109,116
110,974

93,775
96,158
99,009
102,251
104,962
106,940
108,670
110,204

1947...
1948...
1949...
1950...
1951...
1952...
1953...
1954...

58,061
58,175
57,635
59,636
60,460
61,600
60,024

58,196
58,208
57,751
59,661
60,462
61,884
60,663

57,671
58,043
57,728
60,401
59,908
62,010
60,186

58,291
57,747
58,583
59,889
59,909
61,444
60,185

57,854
57,552
58,649
60,188
60,195
61,019
59,908

58,743
57,172
59,052
59,620
60,219
61,456
59,792

58,968
57,190
59,001
60,156
59,971
61,397
59,643

58,456
57,397
59,797
59,994
59,790
61,151
59,853

58,513
57,584
59,575
59,713
60,521
60,906
60,282

58,387
57,269
59,803
60,010
60,132
80,893
60,270

58,417
58,009
59,697
59,836
60,748
60,738
60,357

58,740
57,845
59,429
60,497
60,954
59,977
60,116

57,976
58,142
57,705
59,899
60,277
61,831
60,291

58,296
57,490
58,761
59,899
60,108
61,306
59,962

58,646
57,390
59,458
59,954
60,094
61,151
59,926

58,515
57,708
59,643
60,114
60,611
60,536
60,248

57,038
58,343
57,651
58,918
59,961
60,250
61,179
60,109

1955...
1956...
1957...
1958...
1959...
1960...
1961...
1952...
1963...
1964...

60,753
63,753
63,632
63,220
63,868
65,347
65,776
66,108
67,072
68,327

60,727
63,518
64,257
62,898
63,684
55,620
65,588
66,538
67,024
68,751

60,964
63,411
64,404
62,731
64,267
64,673
65,850
66,493
67,351
68,763

61,515
63,614
64,047
62,631
64,768
65,959
65,374
66,372
67,642
69,356

61,634
63,861
63,985
62,874
64,699
66,057
65,449
66,688
67,615
69,631

61,781
63,820
64,196
62,730
64,849
66,168
65,993
66,670
67,649
69,218

62,513
63,800
64,540
62,745
65,011
65,909
65,608
66,483
67,905
69,399

62,797
63,972
63,959
63,012
64,844
65,895
65,852
66,968
67,908
69,463

62,950
64,079
64,121
63,181
64,770
66,267
65,541
67,192
68,174
69,578

62,991
63,975
64,046
63,475
64,911
65,632
65,919
67,114
68,294
69,582

63,257
63,796
63,669
63,470
64,530
66,109
66,081
66,847
68,267
69,735

63,684
63,910
63,922
63,549
65,341
65,778
65,900
66,947
68,213
69,814

60,815
63,561
64,098
62,950
63,940
65,213
65,738
66,380
67,149
68,614

61,643
63,765
64,076
62,745
64,772
66,061
65,605
66,577
67,635
69,402

62,753
63,950
64,207
62,979
64,875
66,024
65,667
66,881
67,996
69,480

63,311
63,894
63,879
63,498
64,927
65,840
65,967
66,969
68,258
69,710

62,170
63,799
64,071
83,036
64,630
65,778
65,746
66,702
67,762
69,305

1965...
1966...
1967...
1968...
1969...
1970...
1971...
1972...
1973...
1974...

69,997
72,198
73,671
74,700
76,805
78,780
78,864
80,959
83,161
86,555

70,127
72,134
73,606
75,229
77,327
78,698
78,700
81,108
83,912
86,754

70,439
72,188
73,439
75,379
77,367
78,863
78,588
81,573
84,452
86,819

70,633
72,510
73,882
75,561
77,523
78,930
78,987
81,655
84,559
86,669

71,034
72,497
73,844
76,107
77,412
78,564
79,139
81,887
84,648
86,891

71,025
72,775
74,278
76,182
77,880
78,413
78,757
82,083
85,185
86,941

71,460
72,860
74,520
76,087
77,959
78,726
79,305
82,230
85,299
87,149

71,362
73,146
74,767
76,043
78,250
78,624
79,539
82,578
85,204
87,037

71,286
73,258
74,854
76,172
78,250
78,498
79,689
82,543
85,488
87,051

71,695
73,401
75,051
76,224
78,445
78,685
79,918
82,616
85,987
86,995

71,724
73,840
75,125
76,494
78,541
78,650
80,297
82,990
86,320
86,626

72,062
73,729
75,473
76,778
78,740
78,594
80,471
83,400
86,401
86,144

70,188
72,173
73,572
75,103
77,166
78,780
78,717
81,213
83,842
86,709

70,897
72,594
74,001
75,950
77,605
78,636
78,961
81,875
84,797
86,834

71,369
73,088
74,714
76,101
78,153
78,816
79,511
82,450
85,330
87,079

71,827
73,657
75,216
76,499
78,575
78,643
80,229
83,002
86,236
86,588

71,088
72,895
74,372
75,920
77,902
78,678
79,367
82,153
85,064
86,794

85,627
85,256
1975...
87,400
1976...
87,672
1977...
89,928
90,342
1978...
94,384
94,519
1979...
97,944
98,299
1980...
99,872
99,963
1981...
99,964
100,143
1982...
99,688
99,695
See footnotes at end of this part.

85,187
87,985
90,808
94,755
98,453
99,677
100,504
99,597

85,189
88,416
91,271
95,394
98,094
99,204
101,006
99,484

85,451
88,794
91,754
95,769
98,313
98,922
100,968
99,994

85,355
88,563
91,959
96,343
98,685
98,769
100,393
99,681

85,894
89,093
92,084
96,090
99,013
98,816
100,748
99,588

86,234
89,223
92,441
96,431
98,797
98,829
100,709
99,683

86,279
89,173
92,702
96,670
99,366
99,104
100,104
99,543

86,370
89,274
93,052
97,133
99,420
99,327
100,355
99,176

86,456
89,634
93,761
97,485
99,590
99,567
100,229
99,136

86,665
89,803
94,105
97,581
99,952
99,650
99,677
99,093

85,357
87,686
90,359
94,553
98,232
99,837
100,204
99,660

85,332
88,591
91,661
95,835
98,364
98,965
100,789
99,720

86,136
89,163
92,409
96,397
99,059
98,916
100,520
99,605

86,497
89,570
93,639
97,400
99,654
99,515
100,087
99,135

85,846
88,752
92,017
96,048
98,824
99,303
100,397
99,526




Average for period

113

Year

Jan.

Feb.

Mar.

Apr.

May

Monthly
June
July

Quarterly
.Aug.

Sept.

Oct.

Nov.

Dec.

10

IIQ

444. Number unemployed, males 20 years and over
[Thousands]
1947
1948
1949
1950
1951
1952
1953
1954

1,233
1,570
2,349
1,236

1,281
1,734
2,295
1,096

1,334
1,874
2,327
1,007

998

1,367
1,936
2,235

1,296
2,265
2,019

1,199
2,333
1,917

1,191
2,522
1,817

III Q

IV Q

Annual

Average for period

910
938
975

898
904
933

994

961

947
842

1,001

1,078

1,078
1,662

994
901

1,309
2,553
1,632
1,002
1,168

884

917

905

981

1,816

1,989

2,133

2,175

2,113

2,121

2,280

2,293

1,044
2,254

1955
1956
1957
1958
1959
1960
1961
1962
1963
1964

1,812
1,442
1,457
2,216
2,284
1,926
2,544
2,042
2,087
1,887

1,719
1,425
1,391
2,460
2,258
1,772
2,579
1,948
2,137
1,805

1,712
1,459
1,280
2,635
2,062
1,977
2,581
2,008
2,053
1,780

1,833
1,376
1,415
2,899
1,827
1,923
2,656
2,043
2,006
1,748

1,529
1,477
1,420
2,964
1,810
1,893
2,787
2,021
2,000
1,667

1,482
1,491
1,512
2,985
1,811
1,968
2,569
2,039
1,913
1,743

1,420
1,455
1,447
3,027
1,850
2,045
2,622
1,994
1,900
1,663

1,464
1,412
1,463
2,997
1,877
2,124
2,531
2,082
1,839
1,633

1,354
1,404
1,644
2,772
2,093
2,139
2,466
2,009
1,804
1,703

1,465
1,330
1,710
2,646
2,076
2,295
2,371
1,932
1,851
1,740

1,455
1,481
1,947
2,439
2,297
2,353
2,269
2,043
1,970
1,543

1,439
1,532
2,030
2,413
1,883
2,508
2,182
2,035
1,908
1,596

1,748
1,442
1,376
2,437
2,201
1,892
2,568
1,999
2,092
1,824

1,615
1,448
1,449
2,949
1,816
1,928
2,671
2,034
1,973
1,719

1,413
1,424
1,518
2,932
1,940
2,103
2,540
2,028
1,848
1,666

1,453
1,448
1,896
2,499
2,085
2,385
2,274
2,003
1,910
1,626

1,580
1,442
1,541
2,681
2,022
2,060
2,518
2,016
1,971
1,718

1965
1966
1967
1968
1969
1970
1971
1972
1973
1974

1,600
1,203
1,057
1,065

1,615
1,161
1,040
1,105

1,525
1,174
1,078
1,043

1,570
1,103
1,079

1,517
1,085
1,077

1,394
1,121
1,034

1,386
1,125
1,067

1,344
1,063

1,260
1,016
1,046

1,224
1,078
1,071

1,204
1,119
1,089

1,497
1,098
1,078

1,375
1,103
1,031

1,229
1,071
1,069

1,435
1,120
1,060

927

903

900

976
904

947
904

1,404
1,105
1,077
1,013

1,188
2,100
2,071
1,688
1,755

1,334
2,069
1,993
1,693
1,809

1,382
2,055
2,034
1,695
1,735

1,494
2,049
2,019
1,670
1,796

1,553
2,093
2,006
1,671
1,736

1975
1976
1977
1978
1979
1980
1981
1982

3,127
3,161
3,046
2,535
2,281
2,729
3,479
4,362

3,214
3,041
3,136
2,483
2,294
2,719
3,500
4,451

3,476
3,012
2,939
2,468
2,272
2,842
3,439
4,607

3,611
3,632
3,772
3,627
3,453
3,002
2,968
3,167
3,136
3,046
2,824
2,847
2,698
2,720
2,769
2,232
2,335
2,229
2,298
2,200
2,184
2,295
2,345
2,251
2,135
3,584
3,808
3,768
3,291
3,640
3,492
3,343
3,513
3,353
3,540
5,150
5,232
4,770
4,818
5,016
445. Number unemployed, females 20 years and over
[Thousands]

418
589

593
646
999
692
623
445
955
822
697
783

584
621
962
769
537
520

584
751
842
693
567
455

520
857
861
683
592
411

590
877
945
663
534
440

590
996
839
631
558
453

1,071

1,058

1,054

1,038

782
824
745

792
823
713

783
863
806

796
851
838

1,009

1,385
1,064
i,003
1,447
1,126
1,196
1,274

1,349
1,040

1,321
1,004
1,060
1,482
1,119
1,193
1,171

1,304
1,029
1,120
1,448
1,144
1,220
1,161

1,084
1,285
1,235
1,210
1,123

1,055
1,001
1,035

1,119

1,038

1,040

890

967
955

900

1,051

1,134

1,199

1,102

968
979

992

989
979

938
985
967

970
904

1,033

905
1,067

928

954

976

1,043
1,364
1,694
1,684
1,546
1,764

1,068
1,435
1,657
1,657
1,539
1,918

1,074
1,473
1,650
1,689
1,416
1,846

1,013
1,596
1,701
1,523
1,518
2,166

955
977
1,625
1,674
1,512
1,573
2,295

2,679
2,643
2,831
2,838
2,753
2,545
2,384
2,673
2,673
2,498
2,492
2,542
2,562
2,408
2,577
2,322
2,464
2,295
2,263
2,283
2,196
2,249
2,403
2,236
2,191
2,557
2,625
2,655
2,736
2,766
2,760
2,846
2,830
2,867
2,849
3,528
3,568
3,565
3,672
3,671
446. Number unemployed, both sexes 16-19 years of afe
[Thousands]

2,600
2,635
2,538
2,308
2,254
2,607
2,953
3,710

2,657
2,638
2,462
2,158
2,304
2,801
3,043
3,824

2,624
2,644
2,589
2,281
2,270
2,767
3,105
3,989

2,638
2,597
2,416
2,278
2,325
2,784
3,174
4,071

1947
1948
1949
1950
1951
1952
1953
1954
1955
1956
1957
1958
1959
1960
1961
1962
1963
1964

1,030

721
592
475
918
891
765
851

1,225
1,140

1,058
1,163
1,003
1,283
1,257
1,201
1,272

1,408
1,144
1,216
1,281

1,239
1,137
1,017
1,421
1,161
1,167
1,295

1965
1966
1967
1968
1969
1970
1971
1972
1973
1974

1,069

1,196

1,107

945

879

884

889

1,029
1,052

1,065
1,006

1,040

993

992

981

1,046
1,637
1,624
1,552
1,598

1,160
1,629
1,506
1,492
1,600

1,284
1,687
1,625
1,498
1,581

1,029
1,243
1,700
1,619
1,480
1,579

1975
1976
1977
1978
1979
1980
1981
1982

2,629
2,619
2,527
2,375
2,261
2,373
2,809
3,109

2,595
2,575
2,616
2,210
2,312
2,384
2,766
3,286

2,742
2,518
2,642
2,238
2,289
2,338
2,765
3,402

1947
1948
1949
1950
1951
1952
1953
1954

1,131
1,061

937

1,344
1,662
1,698
1,403
1,618

876

968
872

1,278
2,008

1,575
1,876

1,450
2,446
1,427

2,140

2,231

1,299
2,046

1,019
2,035

887

979
910

970

923

910
1,301
2,075
2,033
1,692
1,766

1,557
2,068
2,002
1,656
1,777

1,005
1,773
2,127
1,912
1,561
1,923

1,043
2,035
2,124
1,814
1,552
2,412

1,638
2,097
1,948
1,624
1,957

3,585
3,075
2,532
2,229
2,331
3,752
3,559
5,578

3,489
3,076
2,679
2,222
2,410
3,583
3,815
5,714

3,497
3,241
2,584
2,216
2,448
3,550
4,026
5,865

3,346
3,227
2,509
2,330
2,452
3,376
4,367
5,909

3,272
3,071
3,040
2,495
2,282
2,763
3,473
4,473

3,677
3,046
2,813
2,278
2,190
3,505
3,462
4,868

3,550
3,086
2,650
2,230
2,324
3,776
3,472
5,320

3,444
3,181
2,591
2,256
2,437
3,503
4,069
5,829

3,476
3,098
2,794
2,328
2,308
3,353
3,615
5,089

714
589
582
466

578
957
751
711
515
551

1,018

1,071

1,041

848
812
828

532
619
997
727
584
480
981
832
762
793

1,050

843
857
804

600
955
743
674
485
775
852
830
844
882

596
985
768
644
552
490

789

537
922
799
706
531
594
957
807
842
927

565
828
883
680
564
435

1,035

560
965
718
733
576
553
934
893
816
844

790
846
786

827
893
823

566
947
753
704
531
641
914
843
834
884

564
841
854
689
559
510
997
823
832
821

1,351

1,269
1,002
1,039
1,327
1,243
1,238
1,135

1,221
1,113
1,172
1,371
1,174
1,231
1,130

1,065
1,017
1,254
1,224
1,190
1,257
1,157

1,127
1,050
1,318
1,258
1,168
1,226
1,112

1,174
1,147
1,371
1,187
1,195
1,283

1,352
1,036
1,020
1,462
1,126
1,210
1,219

1,308
1,005
1,081
1,353
1,207
1,223
1,140

1,138
1,060
1,248
1,284
1,177
1,238
1,133

1,242
1,063
1,080
1,368
1,175
1,216
1,195

970
980

1,124

1,089

932

911

990
945

1,056

903

1,088

1,075
1,040

1,047

1,057

1,130

1,078

974

961

962

985

989
1,163
1,651
1,585
1,514
1,593

1,015
1,292
1,662
1,661
1,475
1,622

1,021
1,565
1,675
1,575
1,502
2,102

1,015
1,349
1,658
1,625
1,507
1,777

2,655
2,571
2,595
2,274
2,287
2,365
2,780
3,266

2,807
2,476
2,516
2,289
2,225
2,612
2,812
3,554

1,030
1,393
1,654
1,681
1,539
1,805
2,641
2,660
2,524
2,356
2,284
2,703
2,890
3,684

2,640
2,626
2,489
2,239
2,300
2,784
3,107
3,961

2,684
2,588
2,535
2,292
2,276
2,615
2,895
3,613

838

1,380
1,610
1,702
1,532
1,733

620
1,002

985

993
963

Average for period

986

1,016

921

Average for period

379
662
469
318
310
468
468
492
414
564
651
720
791
737
704
841
943
857
813
841
843
845

1,245
1,379
1,201
1,318

1,060
1,210
1,321
1,309
1,243

1,022
1,241
1,218
1,255
1,351

1,157
1,265
1,276
1,194
1,457

1,060
1,346
1,251
1,207
1,497

1,137
1,280
1,357
1,184
1,301

1,191
1,243
1,314
1,268
1,541

1,228
1,275
1,276
1,261
1,548

1,279
1,294
1,288
1,318
1,594

1,259
1,302
1,289
1,288
1,614

1,760
1,700
1,726
1,631
1,543
1,537
1,763
1,872

1,747
1,783
1,673
1,582
1,575
1,500
1,747
1,958

1,823
1,701
1,656
1,546
1,535
1,761
1,747
1,998

1,840
1,657
1,788
1,506
1,517
1,768
1,725
1,885

1,837
1,681
1,639
1,613
1,495
1,809
1,644
2,006

1,832
1,799
1,663
1,556
1,565
1,753
1,691
2,028

1,738
1,670
1,681
1,588
1,598
1,685
1,759
2,027

1,751
1,716
1,622
1,567
1,584
1,727
1,815
2,038

1,673
1,735
1,642
1,580
1,530
1,712
1,894
2,052

1,760
1,721
1,461
1,620
1,584
1,836
1,848
2,056

1,711
1,710
1,691
1,625
1,567
1,571
1,766
1,932

980

1,822

1,062
2,192
2,178
1,742
1,628
2,727

391
606
403
385
336
339
437
518
538
580
684
689
723
802
791
924
851
816
792
893
806
840

1,745
1,754
1,707
1,579
1,570
1,572
1,760
1,875

893

934

933

364
678
448
314
333
377
478
472
425
466
703
721
785
831
697
905
856
916
827
898
785
911

1975
1976
1977
1978
1979
1980
1981
1982

1,103

1,003
2,023
2,166
1,791
1,560
2,380

384
636
466
343
357
289
563
476
419
471
780
680
706
883
709
915
874
902
831
833
796
900

1,205
1,429
1,267
1,322

934
948
931

992

1,305
2,219
1,922
1,029

950

987
957
1,755
2,160
1,898
1,575
1,957

421
638
453
342
337
294
556
477
432
480
677
726
738
866
696
829
899
828
837
893
814
856

1,249
1,324
1,086
1,291

980
940

1,381
2,729
1,424
1,067

1,064
1,890
2,029
1,910
1,467
2,129

962
985
1,735
2,079
1,960
1,566
1,833

432
593
464
358
355
290
503
423
488
511
748
649
671
858
681
931
784
869
865
859
932
904

1965
1966
1967
1968
1969
1970
1971
1972
1973
1974

1,280
2,510
1,669

1,072
1,830
2,142
1,878
1,543
1,978

923

991
962

425
566
505
338
349
283
400
423
540
506
638
614
738
834
686
871
900
864
862
848
933
855

481
535
587
349
329
285
547
424
481
484
618
602
732
851
752
852
875
878
829
746
828
831
969

1,287
2,178
2,057

1,283
1,726
2,324
1,113

1,580
1,179
1,058
1,071

1,624
2,061
1,981
1,628
1,800

1,038
1,290
1,623
1,666
1,541
1,670

930

1,357
2,468
1,387
1,087

302
585
554
275
367
252
538
435
521
484
708
629
680
760
709
975
885
860
864
817
825
830

454
469
642
329
340
290
560
428
484
448
618
567
620
845
779
885
846
919
780
846
844
797
959

114



963

1,456
1,133
1,242
1,212

1,335
3,273
1,459
1,147

435
573
498
316
306
293
558
424
451
472
732
680
694
790
737
853
896
932
836
776
770
825

383
437
647
348
382
286
497
454
459
488
601
621
686
844
782
786
870
903
840
780
752
798
967

1955
1956
1957
1958
1959
1960
1961
1962
1963
1964

1,093

996

1,340
2,456
1,557
1,013
1,064

387
575
519
310
341
276
499
427
504
487
693
641
704
795
711
900
894
885
854
814
843
837

412
622
461
348
350
291
541
459
446
487
735
685
705
869
695
892
852
866
844
862
847
887

378
649
440
339
326
395
461
494
459
537
679
710
766
790
731
890
883
863
811
877
811
865

409
576
513
336
345
307
501
450
478
497
678
654
712
828
721
884
872
874
837
839
838
853

1,233
1,377
1,185
1,310

1,080
1,239
1,272
1,253
1,350

! 1,739
1,721
1,708
1,612
1,560
1,560
1,763
| 1,893

1,803
1,714
1,706
1,545
1,542
1,676
1,740
1,947

1,129
1,290
1,307
1,220
1,446
1,802
1,717
1,661
1,586
1,553
1,749
1,698
2,020

1,255
1,290
1,284
1,289
1,585
1,728
1,724
1,575
1,589
1,566
1,692
1,852
2,049

1,106
1,262
1,308
1,235
1,422
1,767
1,719
1,663
1,583
1,555
1,669
1,763
1,977

439
480
625
342
350
287
535
435
475
473
612
597
679
847
771
841
864
900
816
791
808
809
965

Year

Jan.

Feb.

Mar.

Apr.

May

Monthly
July

Sept.

June

Oct.

Nov.

Dec. | IQ

Quarterly
II0
illQ

447. Number unemployed, hi-time workers
[Thousands]

IVQ

Annual

Average for period

1947
1948
1949
1950
1951
1952
1953
1954
1955
1956
1957
1958
1959
1960
1961
1962
1963
1964

3,719
3,466

3,722
3,377

3,624
3,391

3,539
3,339

3,613
3,1%

3,365
3,146

3,422
2,985

3,317
3,053

3,283
3,105

3,410
3,081

3,520
2,925

3,451
3,029

3,688
3,411

3,506
3,227

3,341
3,048

3,460
3,012

3,505
3,178

1965
1966
1967
1968
1969
1970
1971
1972
1973
1974

3,041
2,391
2,285
2,257
2,088
2,427
3,902
3,933
3,402
3,567

3,163
2,301
2,193
2,333
2,071
2,663
3,868
3,843
3,441
3,607

2,980
2,349
2,250
2,201
2,026
2,787
3,884
3,894
3,393
3,563

3,029
2,365
2,247
2,009
2,107
2,938
3,857
3,858
3,385
3,628

2,875
2,423
2,277
2,049
2,026
3,158
3,981
3,954
3,324
3,653

2,794
2,295
2,296
2,171
2,162
3,193
3,928
3,837
3,253
3,750

2,692
2,277
2,236
2,179
2,171
3,304
4,007
3,910
3,253
3,928

2,696
2,235
2,267
2,115
2,137
3,356
4,060
3,871
3,280
3,889

2,610
2,225
2,295
2,042
2,286
3,487
4,068
3,756
3,303
4,248

2,470
2,218
2,417
2,046
2,240
3,656
3,971
3,832
3,175
4,430

2,493
2,279
2,388
2,042
2,169
3,911
4,102
3,474
3,391
4,851

2,459
2,286
2,347
1,934
2,190
4,032
4,091
3,420
3,422
5,272

3,061
2,347
2,243
2,264
2,062
2,626
3,885
3,890
3,412
3.579

2,899
2,361
2,273
2,076
2,098
3,096
3,922
3,883
3,321
3,677

2,666
2,246
2,266
2,112
2,198
3,382
4,045
3,846
3,279
4,022

2,474
2,261
2,384
2,007
2,200
3,866
4,055
3,575
3,329
4,851

2,791
2,315
2,293
2,138
2,142
3,206
3,968
3,806
3,344
4,010

1975
1976
1977
1978
1979
1980
1981
1982

6,059
6,045
5,792
5,115
4,701
5,278
6,620
7,822

6,124
5,854
5,867
5,009
4,817
5,270
6,602
8,000

6,493
5,849
5,742
4,952
4,720
5,389
6,541
8,346

6,798
5,864
5,626
4,769
4,765
5,983
6,429
8,575

7,078
5,724
5,539
4,821
4,507
6,568
6,617
8,689

6,772
5,995
5,585
4,670
4,614
6,667
6,581
8,878

6,721
5,945
5,458
4,968
4,707
6,950
6,428
9,036

6,420
5,998
5,534
4,738
4,893
6,880
6,473
9,209

6,666
6,056
5.362
4,769
4,857
6,731
6,762
9,622

6,605
6,060
5,398
4,600
4,925
6,663
7,137
9,942

6,426
6,107
5,331
4,642
4,930
6,685
7,442
10,127

6,276
6,146
5,052
4,798
4,995
6,545
7,990
10,285

6,225
5,916
5,800
5,025
4,746
5.312
6,588
8,056

6,883
5,861
5.583
4,753
4,629
6,406
6,542
8,714

6,602
6,000
5,451
4,825
4,819
6,854
6,554
9,289

6,436
6,104
5,260
4,680
4,950
6,631
7,523
10,118

6,523
5,974
5,548
4,838
4,787
6,269
6,795
9,006

employed pari
[Thousands]

448.

Average for period

1947
1948
1949
1950
1951
1952
1953
1954
1955
1956
1957
1958
1959
1960
1961
1962
1963
1964

1,847
1,923
3,022
2,511
2,287
3,087
2,161
2,298
2,120

1,874
2,086
3,174
2,314
2,379
3,278
2,296
2,282
2,232

1,678
2,091
3,440
2,475
2,197
3,024
2,414
2,281
2,166

1,846
2,034
3,334
2,310
2,545
2,994
2,280
2,296
2,246

1,805
1,992
2,127
3,306
2,123
2,413
2,932
2,403
2,249
2,205

1,755
2,088
2,187
3.019
2,205
2,577
2,748
2,290
2,288
2,173

1,912
2,026
2,207
2,771
2,302
2,552
2,727
2,369
2.179
2,062

1,881
2.107
2.133
2.808
2.282
2.558
2.731
2,288
2,419
2.043

1,864
2,138
2,158
2,756
2,205
2.755
2,647
2,390
2,381
2,114

1,836
2,036
2,249
2,646
2,423
2,737
2,563
2,398
2,330
2,119

1,872
2,018
2,378
2,414
2,469
2,864
2,549
2,485
2,277
2,025

1.884
2.009
2,501
2,514
2,462
2,960
2,405
2,322
2,200
2,143

1,800
2,033
3,212
2,433
2,288
3,130
2,290
2,287
2,173

1,975
2,116
3,220
2,213
2,512
2,891
2,324
2,278
2,208

1,886
2,090
2,166
2,778
2,263
2,622
2,702
2,349
2,326
2,073

1,864
2,021
2,376
2,525
2,451
2,854
2,506
2,402
2,269
2,096

1,839
1,967
2,169
2,953
2,336
2,560
2,813
2,337
2,291
2,137

1965
1966
1967
1968
1969
1970
1971
1972
1973
1974

2,108
1,797
2,048
1,653
1,721
1,980
2,543
2,487
2,043
2,525

1,973
1,637
2,077
1,819
1,707
1,888
2,510
2,340
2,182
2,673

1,994
1,627
2,039
1,748
1,810
1,965
2,501
2,433
2,172
2,472

1,927
1,629
2,104
1,659
1,686
2,310
2,474
2,520
2,150
2,377

1,983
1,706
1,702
1,714
1,746
2,228
2,482
2,387
2,216
2,667

1,898
1,737
1,838
1,826
1,854
2,155
2,227
2,580
2,543
2,577

1,986
1,723
1,850
1,727
1,750
2,279
2,421
2,514
2,490
2,610

1.963
1.563
1.765
1.705
1,875
2.214
2.443
2,548
2,444
2,745

1,776
1,616
1,875
1,659
1,907
2,123
2,355
2,424
2,424
2,917

1,859
1,592
1,840
1,658
1,897
2,377
2,500
2,316
2,424
2,975

1,884
1,566
2,034
1,742
1,855
2,373
2,583
2,253
2,437
3,229

1,761
1.807
1,832
1,697
1,869
2,544
2.418
2.192
2,571
3,347

2,025
1,687
2,055
1,740
1,746
1,944
2,518
2,420
2,132
2,557

1,936
1,691
1,881
1,733
1,762
2,231
2,394
2,496
2,303
2,540

1,908
1,634
1,830
1,697
1,844
2,205
2,406
2,495
2,453
2,757

1,835
1,655
1,902
1,699
1,874
2,431
2,500
2,254
2,477
3,184

1,928
1,664
1,913
1,715
1,810
2,198
2,451
2,430
2,343
2,751

1975
1976
1977
1978
1979
1980
1981
1982

3,716
3,424
3,391
3,163
3,293
3,587
4,467
5,066

3,655
3,288
3,547
3,312
3,274
3,515
4,182
5,489

3,789
3,247
3,372
3,279
3,289
3,492
4,222
5,611

3,827
3,266
3,234
3,370
3,374
3,911
4,149
5,750

3,714
3,329
3,326
3,289
3,345
4,377
4,242
5,731

3,514
3,170
3,375
3,427
3,421
4,210
4,088
5,561

3,442
3,220
3,480
3,345
3,376
4,273
4,432
5,577

3,400
3,259
3,318
3,364
3,444
4,374
4,448
5,820

3,348
3,421
3,379
3,335
3,264
4,290
4,612
6,495

3,376
3,473
3,324
3,269
3,331
4,206
4,948
6,403

3,333
3,541
3,350
3,236
3,473
4,214
5,005
6,411

3,305
3,467
3,303
3,151
3,583
4,216
5,325
6,425

3,720
3,320
3,437
3,251
3,285
3,531
4,290
5,389

3,685
3,255
3,312
3,362
3,380
4,166
4,160
5,681

3,397
3,300
3,392
3,348
3,361
4,312
4,497
5,964

3,338
3,494
3,326
3,219
3,462
4,212
5,093
6,413

3,542
3,334
3,369
3,298
3,373
4,064
4,499
5,852

89.0
88.2
88.6
87.9
87.8
87.6

88.6
88.6
88.2
88.2
88.3
88.1
87.9

451. Chrian labor force participation rate, males 20 years and over
[Percent]

Average for period

1947
1948
1949
1950
1951
1952
1953
1954

88.7
88.5
88.1
88.0
88.8
88.3
87.8

89.0
88.5
88.0
88.4
89.0
88.6
88.1

88.2
88.5
88.0
88.8
88.6
88.7
87.7

88.3
88.4
88.2
88.3
88.5
88.2
88.2

88.1
88.4
88.4
88.4
88.4
88.0
87.9

88.5
88.4
88.3
88.4
88.4
88.0
87.8

88.7
88.2
88.1
88.2
88.3
88.1
87.7

88.7
88.5
86.5
88.0
87.9
88.2

88.5
88.6
88.4
88.2
88.0
87.6
88.4

89.5
88.2
88.6
87.6
87.6
88.0

88.7
88.7
88.2
88.4
87.6
88.0
87.6

89.0
88.7
88.2
88.7
88.5
87.8
87.3

88.6
88.5
88.0
88.4
88.8
88.5
87.9

88.3
88.4
88.3
88.4
88.4
88.1
88.0

'887
88.5
88.3
87.6
88.1
87.9

1955
1956
1957
1958
1959
1960
1961
1962
1963
1964

87.4
88.1
87.0
86.4
86.2
86.2
86.1
85.1
84.3
84.2

87.2
87.9
87.2
86.2
86.0
86.0
85.8
85.3
84.3
84.1

87.4
87.9
87.2
86.2
86.3
85.6
85.9
85.3
84.4
84.0

87.5
87.8
87.1
86.6
86.4
86.1
85.8
84.7
84.4
84.5

87.4
87.6
87.0
86.9
86.2
86.0
85.9
85.0
84.3
84.5

87.2
87.6
87.3
86.8
86.1
85.9
85.8
84.8
84.3
84.0

87.6
87.5
87.1
87.0
86.6
85.9
85.6
84.4
84.5
84.3

87.6
87.5
86.7
87.1
86.3
86.0
85.6
84.9
84.3
84.1

87.6
87.3
86.9
87.1
86.5
86.2
85.5
84.8
84.4
84.2

87.6
87.2
86.6
87.0
86.4
86.1
85.5
84.6
84.2
84.2

87.7
87.3
86.5
86.5
86.3
86.3
85.5
84.6
84.3
84.0

87.8
87.3
86.6
86.3
86.5
86.3
85.3
84.4
84.2
83.9

87.3
88.0
87.1
86.3
86.2
85.9
85.9
85.2
84.3
84.1

87.4
87.7
87.1
86.8
86.2
86.0

84.3
84.3

87.6
87.4
86.9
87.1
86.5
86.0
85.6
84.7
84.4
84.2

87.7
87.3
86.6
86.6
86.4
86.2
85.4
84.5
84.2
84.0

87.5
87.6
86.9
86.7
86.3
86.0
85.7
84.8
84.3
84.2

1965
1966
1967
1968
1969
1970
1971
1972
1973
1974

84.1
83.6
83.7
83.1
82.9
82.8
82.3
81.6
81.2
81.8

84.1
83.5
83.5
83.1
83.1
82.8
82.0
81.5
81.4
81.7

84.1
83.6
83.3
83.0
83.0
82.9
81.9
81.8
81.6
81.3

84.1
83.7
83.5
83.1
82.8
83.0
82.2
81.7
81.4
81.0

84.3
83.6
83.4
83.2
82.7
82.9
82.3
81.6
81.2
81.1

83.8
83.6
83.5
83.4
82.7
82.6
82.0
81.7
81.2
80.9

83.9
83.4
83.5
83.3
82.7
82.6
82.1
81.7
81.3
80.7

83.8
83.5
83.4
83.2
82.9
82.5
82.1
81.6
81.1
80.9

83.6
83.5
83.2
83.0
82.9
82.5
82.0
81.6
81.0
80.8

83.6
83.4
83.4
82.9
82.8
82.4
81.7
81.4
81.1
80.8

83.5
83.5
83.3
82.9
82.5
82.5
81.9
81.4
81.3
80.9

83.6
83.6
83.4
83.1
82.6
82.5
81.9
81.5
81.4
80.7

84.1
83.6
83.5
83.1
83.0
82.8
82.1
81.6
81.4
81.6

84.1
83.6
83.5
83.2
82.7
82.8
82.2
81.7
81.3
81.0

83.8
83.5
83.4
83.2
82.8
82.5
82.1
81.6
81.1
80.8

83.6
83.5
83.4
83.0
82.6
82.5
81.8
81.4
81.3
80.8

83.9
83.5
83.4
83.1
82.8
82.6
82.1
81.6
81.3
81.0

1975
1976
1977
1978
1979
1980
1981
1982

80.6
79.7
79.6
79.9
80.1
79.7
79.1
78.6

80.4
79.6
79.8
79.8
80.3
79.8
79.1
78.7

80.4
79.6
79.7
79.7
79.9
79.4
79.2
78.6

80.5
79.9
79.6
79.8
79.8
79.5
79.3
78.7

80.7
79.8
79.6
79.8
79.6
79.6
79.4
78.9

80.2
79.7
79.8
79.8
79.7
79.3
78.9
78.8

80.4
79.9
79.6
79.7
79.8
79.4
78.9
78.8

80.4
79.9
79.7
79.6
79.7
79.4
78.9
78.7

80.2
79.9
79.4
79.5
79.8
79.3
78.7
79.0

80.0
79.8
79.8
79.6
79.7
79.2
78.7
78.9

79.9
80.0
79.9
80.0
79.5
79.3
78.7
78.9

79.6
79.8
80.0
80.0
79.5
79.1
78.8
78.7

80.5
79.6
79.7
79.8
80.1
79.6
79.1
78.6

80.5
79.8
79.7
79.8
79.7
79.5
79.2
78.8

80.3
79.9
79.6
79.6
79.8
79.4
78.8
78.8

79.8
79.9
79.9
79.9
79.6
79.2
78.7
78.8

80.3
79.8
79.7
79.8
79.8
79.4
79.0
78.7

See footnotes at end of this part




115

Year

Jan.

Feb.

Mar.

Apr.

May

Monthly
June
July

Quarterly

Aug. Sept.

Oct.

Nov.

Pec.

452. Civian labor force participation rate, females 20 years and over
[Percent]

UL

JUL

IIIQ

IV Q

Annual

Average for period

1947
1948
1949
1950
1951
1952
1953
1954

31.0
31.7
32.7
33.7
34.4
34.6
33.4

31.4
32.1
32.8
33.6
34.3
34.2
34.5

31.1
31.9
32.7
34.3
33.5
34.5
34.5

32.1
31.9
33.4
33.8
33.6
34.0
34.4

31.3
32.3
33.0
34.1
34.0
33.4
34.3

32.5
32.2
33.8
33.6
33.8
34.1
34.1

32.7
32.9
33.2
34.5
33.7
34.1
33.8

32.0
32.7
33.6
33.9
33.9
33.7
33.9

32.3
32.5
33.1
33.8
34.9
33.7
34.5

31.7
32.7
33.6
34.2
34.2
34.0
34.4

31.8
32.9
33.7
34.1
34.8
33.6
34.4

32.1
32.7
33.3
34.5
34.2
33.2
34.0

31.2
31.9
32.7
33.9
34.1
34.4
34.1

32.0
32.1
33.4
33.8
33.8
33.8
34.3

32.3
32.7
33.3
34.1
34.2
33.8
34.1

31.9
32.8
33.5
34.3
34.4
33.fr
34.3

31.8
32.4
33.2
34.0
34.1
33.9
34.2

1955
1956
1957
1958
1959
1960
1961
1962
1963
1964

34.5
36.3
36.2
36.7
37.0
36.9
38.1
37.9
38.0
38.5

34.4
36.0
36.7
36.8
36.7
36.9
38.4
38.0
38.2
38.8

34.3
36.0
36.5
36.8
37.0
36.3
38.5
37.7
38.2
38.8

35.1
36.2
36.2
37.1
37.1
37.6
37.9
37.6
38.4
39.5

34.7
36.7
36.3
37.0
37.1
37.7
38.1
37.6
38.4
39.3

35.0
36.4
36.4
37.0
37.2
37.9
38.4
37.5
38.2
39.0

35.5
36.6
36.9
37.0
37.1
37.9
38.0
37.6
38.3
38.7

36.0
36.6
36.4
37.2
36.9
37.9
37.7
38.1
38.1
38.9

35.9
36.8
36.5
36.8
36.9
38.1
37.5
38.3
38.4
38.6

36.0
36.6
36.6
36.8
37.3
37.6
37.9
37.9
38.6
38.8

36.0
36.4
36.6
36.6
37.0
38.2
37.6
37.8
38.7
38.7

36.4
36.4
36.9
36.7
37.2
38.2
37.5
37.8
38.5
38.9

34.4
36.1
36.5
36.8
36.9
36.7
38.3
37.9
38.1
38.7

34.9
36.4
36.3
37.0
37.1
37.7
38.1
37.6
38.3
39.3

35.8
36.7
36.6
37.0
37.0
38.0
37.7
38.0
38.3
38.7

36.1
36.5
36.7
36.7
37.2
38.0
37.7
37.8
38.6
38.8

35.3
36.4
36.5
36.9
37.0
37.6
38.0
37.8
38.3
38.9

1965
1966
1967
1968
1969
1970
1971
1972
1973
1974

39.0
39.8
40.7
40.9
42.0
43.1
43.6
43.6
43.6
44.7

39.2
39.6
40.5
41.3
42.4
43.1
43.3
43.4
44.0
45.0

39.2
39.6
40.4
41.4
42.4
43.4
43.2
43.7
44.1
45.1

39.2
39.8
40.8
41.4
42.6
43.5
43.2
43.6
44.3
45.1

39.2
40.0
40.8
42.0
42.5
43.0
43.2
43.8
44.3
45.1

39.7
39.9
40.9
41.9
42.8
43.2
43.0
43.6
44.5
45.3

39.7
40.0
41.0
41.7
42.7
43.5
43.0
43.7
44.5
45.8

39.6
40.3
41.1
41.3
42.8
43.3
43.2
43.8
44.5
45.5

39.3
40.6
41.4
41.6
42.8
43.0
43.4
43.7
44.6
45.5

39.4
40.6
41.7
41.6
42.9
43.4
43.5
43.7
44.6
45.3

39.5
40.9
41.6
41.9
42.8
43.4
43.8
43.6
44.9
45.5

39.6
40.8
41.8
41.9
42.9
43.4
43.8
43.7
44.8
45.6

39.1
39.7
40.5
41.2
42.3
43.2
43.4
43.6
43.9
44.9

39.4
39.9
40.8
41.8
42.6
43.2
43.1
43.7
44.4
45.2

39.5
40.3
41.2
41.5
42.8
43.3
43.2
43.7
44.5
45.6

39.5
40.8
41.7
41.8
42.9
43.4
43.7
43.7
44.8
45.5

39.4
40.2
41.1
41.6
42.7
43.3
43.3
43.7
44.4
45.3

1975
1976
1977
1978
1979
1980
1981
1982

45.9
46.6
47.4
48.9
50.1
51.3
51.8
52.2

45.6
46.6
47.6
48.9
50.3
51.3
51.9
52.3

45.9
46.7
47.9
49.1
50.5
51.2
52.0
52.5

46.0
46.8
48.0
49.4
50.2
51.4
52.2
52.5

46.0
46.8
48.2
49.4
50.2
51.3
52.4
52.8

46.0
47.0
48.1
49.6
50.3
51.2
52.2
52.9

46.1
47.3
48.0
49.6
50.6
51.3
52.2
53.0

46.2
47.3
48.1
49.5
50.8
51.4
52.1
53.0

46.1
47.1
48.5
49.9
50.8
51.3
51.7
52.9

46.3
47.1
48.3
50.0
50.9
51.5
52.3
52.8

46.2
47.5
48.8
50.1
51.0
51.6
52.4
52.9

46.3
47.6
48.7
50.2
51.2
51.5
52.2
53.1

45.8
46.6
47.6
49.0
50.3
51.3
51.9
52.3

46.0
46.9
48.1
49.5
50.2
51.3
52.3
52.7

46.1
47.2
48.2
49.7
50.7
51.3
52.0
53.0

46.3
47.4
48.6
50.1
51.0
51.5
52.3
52.9

46.0
47.0
48.1
49.6
50.6
51.3
52.1
52.7

453. Civian labor force participation rate, both sexes 16-19 years of age
[Percent]

Averafe for period

1947
1948
1949
1950
1951
1952
1953
1954

53.2
52.8
51.9
51.4
52.2
52.4
50.9

53.7
53.7
51.7
51.0
51.8
54.0
51.4

54.1
54.5
50.2
53.3
50.9
53.1
51.7

54.2
53.0
50.8
50.9
50.7
51.8
50.1

50.9
53.4
50.9
52.6
52.3
49.5
48.6

53.8
49.8
50.4
51.3
52.8
50.9
46.3

52.6
50.3
50.8
52.6
51.2
49.5
47.1

51.5
51.9
52.0
53.0
50.0
49.6
48.0

51.5
53.1
52.5
52.7
50.5
49.1
48.5

50.6
52.5
53.5
52.4
50.2
48.2
47.3

51.0
52.9
52.6
51.9
51.4
48.9
46.3

53.1
52.6
52.5
529
51.1
49.2
44.6

53.7
53.7
51.3
51.9
51.6
53.2
51.3

53.0
52.1
50.7
51.6
51.9
50.7
48.3

51.9
51.8
51.8
52.8
50.6
49.4
47.9

51.6
52.7
52.9
52.4
50.9
48.8
46.1

52.5
52.5
51.6
52.2
51.3
50.5
48.4

1955
1956
1957
1958
1959
1960
1961
1962
1963
1964

46.8
51.4
49.5
47.4
47.5
47.2
47.4
45.6
45.4
44.4

45.4
50.5
49.8
48.0
46.7
47.4
46.7
45.9
45.1
45.3

46.3
50.0
50.6
47.5
46.7
46.7
47.6
46.8
44.8
45.0

47.3
49.4
49.5
48.1
47.7
48.5
46.0
46.5
45.3
44.0

47.6
52.1
49.4
48.9
46.2
48.1
45.8
47.4
46.2
44.8

46.7
52.5
50.2
46.5
46.0
49.7
47.8
47.8
44.6
44.4

48.4
51.7
50.2
46.8
46.3
47.3
47.1
46.5
45.0
44.0

49.6
50.6
48.4
47.1
46.6
46.9
48.0
46.4
44.8
44.2

50.5
50.3
49.3
47.9
46.9
47.4
46.4
45.8
45.7
45.5

51.1
49.7
49.3
47.9
46.6
47.3
46.4
45.3
45.8
44.1

52.7
50.4
49.4
46.8
46.3
47.4
47.4
44.9
44.8
44.1

53.4
50.3
49.3
47.1
47.4
46.5
45.6
44.8
43.9
44.3

46.2
50.6
50.0
47.6
47.0
47.1
47.2
46.1
45.1
44.9

47.2
51.3
49.7
47.8
46.6
48.8
46.5
47.2
45.4
44.4

49.5
50.9
49.3
47.3
46.6
47.2
47.2
46.2
45.2
44.6

52.4
50.1
49.3
47.3
46.8
47.1
46.5
45.0
44.8
44.2

48.8
50.7
49.6
47.5
46.7
47.5
46.8
46.1
45.1
44.5

1965
1966
1967
1968
1969
1970
1971
1972
1973
1974

43.0
48.0
48.3
46.6
47.7
50.4
50.0
51.1
50.8
55.1

43.7
46.7
48.2
48.5
47.8
50.3
49.9
51.4
52.9
55.2

44.1
46.9
47.5
48.2
48.3
50.4
49.3
51.9
53.5
55.0

45.3
47.4
47.6
47.9
48.7
49.9
49.7
51.8
53.7
53.8

45.6
46.9
47.2
48.2
47.5
49.7
49.4
51.5
53.2
54.3

44.0
48.5
48.8
49.3
49.6
49.0
47.5
51.9
54.5
55.3

46.3
49.1
49.0
49.1
50.0
49.4
50.5
51.6
53.3
54.9

45.5
49.3
49.5
49.0
50.0
49.7
50.5
52.9
53.2
53.8

46.5
47.5
48.3
47.9
50.5
50.4
49.3
51.6
54.3
55.7

47.8
48.2
48.7
48.0
50.9
50.1
49.7
51.9
54.8
55.5

47.1
49.1
48.3
47.7
50.9
50.1
50.5
52.4
55.1
55.1

48.1
49.3
48.3
47.8
50.4
49.8
50.6
52.8
55.1
54.4

43.6
47.2
48.0
47.8
47.9
50.4
49.7
51.5
52.4
55.1

45.0
47.6
47.9
48.5
48.6
49.5
48.9
51.7
53.8
54.5

46.1
48.6
48.9
48.7
50.2
49.8
50.1
52.0
53.6
54.8

47.7
48.9
48.4
47.8
50.7
50.0
50.3
52.4
55.0
55.0

45.6
48.1
48.4
48.3
49.4
49.9
49.7
51.9
53.7
54.8

1975
1976
1977
1978
1979
1980
1981
1982

54.9
54.2
54.2
56.7
58.4
57.6
56.6
54.2

54.1
54.2
55.2
56.6
58.5
57.1
56.5
54.5

54.1
54.4
55.5
56.5
58.3
57.1
56.3
53.8

53.6
55.2
55.7
57.0
57.9
55.8
56.9
54.2

54.7
55.1
55.6
57.9
57.3
57.0
56.2
55.2

53.8
53.8
57.0
58.5
58.2
57.2
54.4
53.0

54.1
55.3
56.1
58.4
57.7
57.4
54.5
53.2

53.8
55.1
57.2
59.3
56.8
55.9
55.2
54.2

54.1
53.9
55.9
58.1
57.8
56.4
54.9
54.3

53.5
54.4
56.5
58.3
57.5
56.6
54.9
54.1

53.2
54.4
57.2
58.2
57.7
56.2
55.0
54.4

53.8
54.1
56.3
58.2
58.4
56.0
53.9
53.9

54.4
54.3
55.0
56.6
58.4
57.3
56.5
54.2

54.0
54.7
56.1
57.8
57.8
56.7
55.8
54.1

54.0
54.8
56.4
58.6
57.4
56.6
54.9
53.9

53.5
54.3
56.7
58.2
57.9
56.3
54.6
54.1

54.0
54.5
56.0
57.8
57.9
56.7
55.4
54.1

517. Defense Department gross obigations incurred
[Mttons of dolarsl

Total for period

1^47
1948
1949
1950
1951
1952
1953
1954

977
7,048
5,601
4,003
2,095

1,043
4,987
4,484
3,997
3,074

960
5,158
4,544
3,889
1,966

1,438
3,698
3,980
4,059
2,539

1,621
5,011
5,501
2,272
3,024

1,609
5,458
5,362
1,841
3,070

619
2,479
4,933
6,191
2,040
2,563

995
2,905
3,573
5,782
2,409
2,597

1,286
2,834
3,851
4,520
2,289
3,493

3,935
5,114
3,190
2,459
3,890

1,268
2,410
11,241
3,091
2,545
2,944

1,435
3,593
4,136
6,208
1,850
2,788

2,980
17,193
14,629
11,889
7,135

4,668
14,167
14,843
8,172
8,633

2,900
8,218
12,357
16,493
6,738
8,653

3,692
9,938
20,491
12,489
6,854
9,622

25,804
64,208
58,454
33,653
34,043

1955
1956
1957
1958
1959
1960
1961
1962
1963
1964

2,295
3,585
3,522
3,834
3,792
3,447
3,857
4,473
4,731
4,242

2,342
3,125
3,877
3,664
3,887
3,554
4,332
4,349
4,485
5,783

2,506
4,131
3,192
4,252
3,929
3,592
3,752
4,616
4,374
4,245

2,704
3,424
3,521
3,985
3,735
3,483
3,840
4,764
4,139
4,563

2,271
3,528
3,094
4,480
3,842
3,901
3,803
4,199
4,390
4,813

2,533
4,225
2,862
4,271
3,870
3,882
3,853
4,099
4,856
4,349

2,334
3,592
3,177
3,931
3,552
4,973
3,924
4,925
4,639
5,010

1,133
4,882
3,259
3,634
3,658
3,897
5,335
4,312
4,556
4,274

3,552
3,502
3,267
3,719
3,968
3,869
4,785
4,135
4,265
4,308

2,703
3,479
3,216
4,910
4,118
3,620
4,303
4,787
5,442
3,984

2,857
3,566
3,718
3,800
3,709
4,042
4,096
4,866
4,164
4,487

4,320
3,986
3,790
3,898
3,208
3,689
4,780
4,249
4,277
5,088

7,143
10,841
10,591
11,750
11,608
10,593
11,941
13,438
13,590
14,270

7,508
11,177
9,477
12,736
11,447
11,266
11,496
13,062
13,385
13,725

7,019
11,976
9,703
11,284
11,178
12,739
14,044
13,372
13,460
13,592

9,880
11,031
10,724
12,608
11,035
11,351
13,179
13,902
13,883
13,559

31,550
45,025
40,495
48,378
45,268
45,949
50,660
53,774
54,318
55,146

1965
1966
1967
1968
1969
1970
1971
1972
1973
1974

4,421
5,489
6,589
6,688
7,378
6,906
6,796
7,604
6,827
7,527

4,276
5,328
6,659
7,212
7,097
6,489
7,261
6,951
7,283
7,398

4,599
6,178
6,495
6,641
6,860
6,766
6,753
6,898
7,362
7,485

4,575
6,392
6,746
7,013
6,556
6,683
6,752
7,267
6,865
7,762

4,720
5,442
7,439
7,067
6,632
6,556
6,990
6,825
7,275
7,187

4,446
6,821
6,838
7,481
6,324
6,491
6,389
6,866
6,992
8,166

4,888
5,963
6,427
7,317
6,887
6,793
7,462
7,173
7,312
7,983

5,017
6,687
6,625
7,638
6,680
6,357
6,763
7,613
6,932
8,279

5,110
5,958
7,267
8,244
6,490
6,583
6,249
6,824
6,790
8,179

5,345
6,037
7,258
7,256
6,830
6,368
7,333
7,015
7,671
7,681

5,225
6,136
6,667
7,183
7,150
7,033
6,683
7,109
7,315
8,211

5,599
6,328
6,815
7,011
6,838
6,942
7,432
6,708
6,850
8,116

13,296
16,995
19,743
20,541
21,335
20,161
20,810
21,453
21,472
22,410

13,741
18,655
21,023
21,561
19,512
19,730
20,131
20,958
21,132
23,115

15,015
18,608
20,319
23,199
20,057
19,733
20,474
21,610
21,034
24,441

16,169
18,501
20,740
21,450
20,818
20,343
21,448
20,832
21,836
24,008

58,221
72,759
81,825
86,751
81,722
79,967
82,863
84,853
85,474
93,974

1975
1976
1977
1978
1979
1980
1981
1982

7,785
8,393
9,804
10,537
10,770
12,578
14,808
19,361

7,961
8,442
9,763
10,659
10,226
12,399
15,741
20,608

8,271
8,727
9,873
10,155
10,935
13,806
15,560
18,869

7,971
9,033
9,671
10,242
9,784
13,722
15,210
20,793

8,438
8,764
9,919
10,793
10,683
13,718
15,699
17,786

8,516
8,713
9,835
10,094
10,615
12,809
15,156
17,503

8,301
9,727
9,498
10,327
11,792
12,677
16,836
17,669

8,962
7,384
10,486
10,278
11,022
13,728
17,374
16,448

8,072
10,015
9,143
10,256
12,278
13,552
16,584
18,387

7,889
9,914
10,240
10,214
12,081
13,014
12,892
16,476

7,936
8,733
10,353
10,484
11,505
12,876
15,674
18,599

8,084
9,874
10,157
10,282
11,997
15,825
19.805
24,396

24,017
25,562
29,440
31,351
31,931
38,783
46,109
58,838

24,925
26,510
29,425
31,129
31,082
40,249
46,065
56,082

25,335
27,126
29,127
30,861
35,092
39,957
50,794
52,504

23,909
28,521
30,750
30,980
35,583
41,715
48,371
59,471

98,186
107,719
118,742
124,321
133,688
160,704
191,339
226,895

116



Year

Quarterly

Monthly
Jan.

Feb.

Mar.

May

Apr.

June

July

Aug.

Sept.

Oct.

Nov.

Dec.

525. Defense Department prime contract awards for work performed in the United States
[IWons of dolars]

IS

!!!_

IV Q

Annual

Total for period

1947...
1948...
1949...
1950...
1951...
1952...
1953...
1954...

3,976
2,528
3,682
616

3,493
5,479
2,295
564

3,001
2,959
2,381
826

2,892
2,088
2,462
1,068

3,760
3,059
2,038
1,326

2,759
4,292
2,042
1,116

4,097
1,158
2,035
886

4,241
1,002
1,089
767

2,333
2,116
1,004
2,454

2,823
2,143
959
2,271

3,462
3,295
265
481

3,399
3,148
390
913

10,470
10,966
8,358
2,006

9,411
9,439
6,542
3,510

10,671
4,276
4,128
4,107

9,684
8,586
1,614
3,665

40,236
33,267
20,642
13,288

1955...
1956...
1957...
1958...
1959...
1960...
1961...
1962...
1963...
1964...

1,049
1,474
1,756
2,103
1,625
1,850
1,989
3,271
2,429
2,372

1,306
1,388
1,927
1,232
1,898
1,754
2,186
2,180
2,611
2,958

1,028
1,502
1,563
2,243
1,966
1,904
1,987
2,552
2,463
1,966

1,468
1,404
2,312
2,142
2,204
1,726
2,274
2,295
2,023
2,502

841
1,782
808
3,043
1,893
2,252
1,855
2,140
2,413
2,640

1,287
2,024
1,093
2,228
2,222
1,963
2,229
2,127
2,366
1,910

971
1,196
1,619
1,511
2,192
2,151
1,993
1,888
2,216
2,580

1,231
2,108
1,310
1,692
1,964
2,200
2,143
2,167
2,722
1,963

597
2,091
1,297
2,308
1,793
2,250
2,033
2,032
2,635
2,163

1,136
1,972
1,594
1,880
1,937
1,327
2,494
2,814
2,119
1,967

1,310
1,934
1,819
1,704
2,102
1,938
2,308
2,946
1,814
2,075

2,194
1,891
1,671
2,328
1,298
1,922
2,491
2,044
2,149
1,997

3,383
4,364
5,246
5,578
5,489
5,508
6,162
8,003
7,503
7,296

3,596
5,210
4,213
7,413
6,319
5,941
6,358
6,562
6,802
7,052

2,799
5,395
4,226
5,511
5,949
6,601
6,169
6,087
7,573
6,706

4,640
5,797
5,084
5,912
5,337
5,187
7,293
7,804
6,082
6,039

14,418
20,766
18,769
24,414
23,094
23,237
25,982
28,456
27,960
27,093

1965...
1966...
1967...
1968...
1969...
1970...
1971...
1972...
1973..
1974..

2,097
2,952
3,364
2,887
3,398
2,855
2,508
3,520
2,824
3,218

1,846
2,906
3,930
3,445
3,441
2,623
2,704
2,982
2,899
3,144

2,451
2,956
3,034
3,124
2,904
2,904
3,104
3,025
2,947
2,990

2,843
3,461
3,026
3,488
2,825
2,591
2,928
2,985
2,568
4,372

2,150
2,978
4,040
4,203
3,070
2,545
2,231
2,786
3,171
3,211

2,390
3,693
3,566
3,067
2,744
2,896
2,324
3,154
2,897
3,402

2,313
3,940
3,545
3,937
2,896
2,717
2,916
3,074
2,024
3,295

2,775
3,165
3,690
3,173
3,001
2,782
3,093
2,638
2,962
3,553

2,419
3,541
3,720
3,836
2,680
2,113
2,982
2,725
3,235
3,504

2,790
3,383
3,626
3,903
2,987
3,464
2,606
2,946
2,992
3,863

2,995
3,225
3,308
3,378
2,734
2,746
3,092
3,589
3,347
3,667

2,988
3,513
3,479
3,613
2,765
3,181
3,066
2,532
3,292
3,051

6,394
8,814
10,328
9,456
9,743
8,382
8,316
9,527
8,670
9,352

7,383
10,132
10,632
10,758
8,639
8,032
7,483
8,925
8,636
10,985

7,507
10,646
10,955
10,946
8,577
7,612
8,991
8,437
8,221
10,352

8,773
10,121
10,413
10,894
8,486
9,391
8,764
9,067
9,631
10,581

30,057
39,713
42,328
42,054
35,445
33,417
33,554
35,956
35,158
41,270

1975...
1976...
1977..
1978...
1979...
1980...
1981...
1982...

3,731
3,536
3,354
4,853
5,771
5,491
7,155
9,756

4,061
3,101
4,369
4,741
4,554
6,839
7,514
13,761

3,168
6,713
4,819
4,909
5,903
5,887
7,590
9,870

4,023
3,489
4,303
4,970
4,688
6,944
8,505
10,518

3,814
3,543
4,654
6,204
4,825
6,901
7,967
9,657

3,680
3,854
4,300
7,081
4,144
6,450
7,041
14,296

3,635
2,535
4,624
3,928
5,650
6,211
8,845
8,610

4,419
3,652
4,623
4,924
4,947
7,188
9,504
8,928

3,102
4,985
4,255
4,855
6,232
6,893
9,325
10,296

2,866
4,897
5,279
4,343
5,619
5,639
4,466
5,423

3,062
4,114
4,247
6,509
6,029
6,773
9,817
10,209

3,413
4,729
5,332
4,568
5,825
9,835
9,049
17,298

10,960
13,350
12,542
14,503
16,228
18,217
22,259
33,387

11,517
10,886
13,257
18,255
13,657
20,295
23,513
34,471

11,156
11,172
13,502
13,707
16,829
20,292
27,674
27,834

9,341
13,740
14,858
15,420
17,473
22,247
23,332
32,930

42,974
49,148
54,159
61,885
64,187
81,051
96,778
128,622

543. Defense Departinentgross unpaid obif atkms outstanding
s of dolars]

End of period

1947...
1948...
1949...
1950...
1951...
1952..
1953...
1954..

38,361

38,587

35,974

34,907

34,769

51,118
33,567

50,051
33,695

49,349
33,287

47,419
33,442

45,535
33,673

44,707
33,716

40,050
33,186

35,974

51,118
33,567

47,419
33,442

40,050
33,186

40,050
33,186

1955...
1956...
1957..
1958...
1959...
1960...
1961...
1962...
1963...
1964...

32,254
23,715
26,293
22,051
23,663
21,509
22,795
24,633
24,531
23,003

31,293
23,685
26,581
21,957
23,641
21,314
23,041
24,506
24,304
23,777

30,030
24,526
26,129
22,369
23,682
21,203
22,931
24,659
24,036
23,595

29,435
24,536
25,857
22,768
23,532
21,042
22,718
24,939
23,602
23,557

28,405
24,475
25,287
23,330
23,656
21,148
22,539
24,515
23,126
23,914

26,919
25,440
24,762
24,666
24,007
22,955
22,707
24,242
22,824
23,043

25,793

24,076

23,911
26,463
23,555
22,558
23,257
23,945
24,179

23,034
26,344
22,140
23,755
22,323
23,220
23,955
24,831

23^365

23,008

23,042

23,374
26,518
22,062
23,755
21,599
22,866
24,522
24,430
23,050
23,275

30,030
24,526
26,129
22,369
23,682
21,203
22,931
24,659
24,036
23,595

26,919
25,440
24,762
24,666
24,007
22,955
22,707
24,242
22,824
23,043

23,911
26,463

23,910
22,846
23,225
23,210
24,463

23,512
26,168
22,107
23,684
22,452
23,022
24,241
24,547

23,365

23,374
26,518
22,062
23,755
21,599
22,866
24,522
24,430
23,050
23,275

23,374
26,518
22,062
23,755
21,599
22,866
24,522
24,430
23,050
23,275

1965...
1966...
1967...
1968...
1969...
1970...
1971...
1972...
1973...
1974...

23,434
27,275
35,350
36,616
39,531
32,561
30,181
32,879
34,280
37,446

23,466
27,621
35,719
37,236
39,147
32,041
30,851
32,832
34,426
37,673

23,698
28,355
35,668
37,490
38,472
31,494
30,541
32,742
34,976
37,817

23,762
29,597
35,296
36,914
37,656
30,979
30,737
32,976
35,140
38,456

24,261
30,322
36,683
37,622
36,855
30,279
31,098
32,772
35,693
38,389

24,651
32,030
37,417
38,421
35,445
30,787
29,077
32,417
35,877
38,909

36,249
39,104
34,414
30,221
31,069
33,350
36,666
39,621

34,154
36,625
39,960
33,613
29,938
30,671
33,985
36,285
39,894

26,105
34,583
36,993
40,178
33,234
29,703
31,546
34,026
36,682
39,429

26,496
34,942
36,831
40,127
32,912
30,085
31,450
34,255
36,869
39,772

26,746
35,064
37,033
39,587
32,781
30,077
31,046
34,225
36,839
40,137

23,698
28,355
35,668
37,490
38,472
31,494
30,541
32,742
34,976
37,817

24,651
32,030
37,417
38,421
35,445
30,787
29,077
32,417
35,877
38,909

34,154
36,625
39,960
33,613
29,938
30,671
33,985
36,285
39,894

26,746
35,064
37,033
39,587
32,781
30,077
31,046
34,225
36,839
40,137

26,746
35,064
37,033
39,587
32,781
30,077
31,046
34,225
36,839
40,137

1975...
1976...
1977...
1978...
1979...
1980...
1981...
1982..

40,052
41,358
49,258
57,304
66,702
71,178
82,087
98,818

39,875
41,459
50,229
58,401
49,455
71,665
83,608
102,677

40,198
41,866
50,761
58,986
67,663
73,179
84,883
105,418

39,918
42,494
51,236
59,348
69,360
73,912
84,994
108,428

40,086
42,970
52,170
60,723
67,783
74,252
85,165
108,841

41,805
43,663
52,697
62,730
70,629
76,745
91,896
111,857

41,845
47,366
54,775
63,006
63,757
77,777
91,354
111,866

41,468
47,385
55,479
63,440
69,910
78,183
92,575
113,647

41,309
48,497
55,771
64,470
70,006
79,936
93,827
119,788

40,198
41,866
50,761
58,986
67,663
73,179
84,883
105,418

40,959
43,612
52,625
60,549
67,996
74,592
86,126
109,654

41,805
43,663
52,697
62,730
70,629
76,745
91,896
111,857

41,309
48,497
55,771
64,470
70,006
79,936
93,827
119,788

41,309
48,497
55,771
64,470
70,006
79,936
93,827
119,788

33,109
36,188
39,741

40,959
41,437
42,140
43,612
43,251
42,558
54,262
52,625
53,383
62,028
60,549
61,833
79,219
67,996
68,662
75,133
74,592
74,870
89,857
86,126
87,968
110,787
109,654
110,885
548. Manufacturers' new orders, defense products
of dolars]

Total for p

I!

1947..
1948..
1949..
1950...
1951...
1952...
1953..
1954..

23,555
22,558
23,257
23,945
24,179

1955..
1956...
1957..
1958...
1959..
1960...
1961..
1962..
1963...
1964..
1965...
1966...
1967...
1968...
1969...
1970...
1971...
1972...
1973...
1974...

1,957
2,200
1,499
2,050
2,154
1,820
2,419

2,206
1,870
1,862
1,958
1,668
1,605
2,383

1,884
2,463
1,875
1,393
1,473
2,067
1,348

2,270
2,636
1,689
1,531
1,825
2,173
1,847

2,825
2,164
1,939
1,451
1,625
1,941
2,453

2,962
1,692
1,900
1,181
2,193
2,198
1,934

1,915
1,668
2,156
1,966
1,347
1,682
1,504

2,898
1,844
1,769
1,690
1,489
2,124
3,612

3,110
1,532
2,141
1,659
1,927
1,871
2,257

2,523
2,087
1,868
1,763
1,536
1,933
1,381

2,037
2,129
1,656
1,692
1,676
2,494
2,445

2,065
2,469
1,796
1,554
2,063
1,761
2,034

6,047
6,533
5,236
5,401
5,295
5,492
6,150

8,057
6,492
5,528
4,163
5,643
6,312
6,234

7,923
5,044
6,066
5,315
4,763
5,677
7,373

6,625
6,685
5,320
5,009
5,275
6,188
5,860

28,652
24,754
22,150
19,888
20,976
23,669
25,617

1975...
1976...
1977...
1978...
1979...
1980...
1981...
1982...

1,561
1,630
2,485
2,975
2,379
3,820
4,480
7,151

2,473
2,223
2,236
2,705
3,423
3,742
5,060
6,922

2,008
2,967
2,486
4,332
2,448
4,870
3,785
6,688

2,267
2,925
2,816
3,126
2,348
4,738
4,041
6,204

2,122
2,543
2,650
3,531
2,862
4,338
5,170
5,013

1,888
2,462
2,969
3,889
2,656
4,946
5,057
5,994

2,490
1,818
3,123
3,187
3,250
6,583
5,317
5,195

2,091
2,033
2,684
3,392
2,895
4,966
5,440
5,656

2,682
2,617
2,289
3,022
2,994
5,727
5,435
3,638

1,325
2,823
4,541
4,126
3,057
5,104
4,711
5,621

2,047
2,799
2,752
3,906
2,997
4,314
5,269
5,663

1,828
3,700
4,266
3,547
2,869
5,442
5,244
11,207

6,042
6,820
7,207
10,012
8,250
12,432
13,325
20,761

6,277
7,930
8,435
10,546
7,866
14,022
14,268
17,211

7,263
6,468
8,096
9,601
9,139
17,276
16,192
14,489

5,200
9,322
11,559
11,579
8,923
14,860
15,224
22,491

24,782
30,540
35,297
41,738
34,178
58,590
59.009
74,952

See footnotes at end of this part




117

Year

Monthly
Jan.

Feb.

Mar.

Apr.
557.1

May

June

Quarterly

July

Aug.

Sept.

Oct.

Nov.

Dec.

x of industrial production, defense and space
[Index: 1 9 6 7 = 1 0 0 ]

13

IV Q

!UL

Annual

Average for period

1947
1948
1949
1950
1951
1952
1953
1954

10.6
10.8
13.0
11.9
23.3
47.0
58.7
58.0

10.5
11.3
13.0
11.9
26.9
47.5
59.9
57.6

10.3
11.5
12.9
12.0
30.6
47.6
61.1
56.8

10.4
11.8
12.7
12.3
33.5
48.2
61.9
55.8

10.2
11.5
12.9
12.7
34.6
49.7
63.0
55.0

10.1
11.9
13.0
13.2
36.4
51.3
63.4
54.1

10.1
12.2
12.9
13.9
38.5
51.6
63.9
53.9

10.0
12.4
12.7
15.2
39.8
52.4
63.4
52.8

10.0
12.7
12.5
16.8
41.1
53.2
63.4
52.3

10.4
12.9
12.2
18.1
42.8
55.0
62.7
51.8

10.5
13.2
12.1
19.4
45.3
56.1
58.7
51.5

10.7
13.2
12.0
21.0
46.2
57.8
59.2
50.7

10.5
11.2
13.0
11.9
26.9
47.4
59.9
57.5

10.2
11.7
12.9
12.7
34.8
49.7
62.8
55.0

10.0
12.4
12.7
15.3
39.8
52.4
63.6
53.0

10.5
13.1
12.1
19.5
44.8
56.3
60.2
51.3

10.3
12.1
12.7
14.9
36.6
51.4
61.6
54.2

1955
1956
1957
1958
1959
1960
1961
1962
1963
1964

50.4
48.5
51.9
47.6
53.2
54.7
55.0
60.9
71.0
69.0

50.4
48.1
52.2
47.9
52.7
55.0
54.6
61.9
70.5
68.4

50.1
47.1
52.1
48.9
52.9
55.3
54.5
62.7
70.1
68.3

50.0
47.4
52.3
49.7
53.2
54.9
54.6
63.3
70.0
68.1

50.0
47.5
51.5
50.2
53.7
55.5
54.6
63.7
70.0
66.9

49.5
47.5
51.8
51.6
53.8
54.1
54.6
64.4
69.9
66.5

49.5
47.5
51.2
51.7
54.0
55.5
55.0
65.6
69.3
66.4

49.1
48.1
51.3
52.2
53.7
55.7
55.3
66.5
69.5
66.7

49.2
48.5
50.2
52.5
54.0
55.6
56.4
66.7
69.8
67.2

49.0
49.8
49.0
52.5
53.9
55.1
57.7
66.9
69.8
67.6

49.0
50.6
47.4
52.9
53.9
55.3
59.1
67.6
69.5
68.3

49.1
51.7
47.0
53.0
54.3
54.4
60.2
67.9
69.7
68.8

50.3
47.9
52.1
48.1
52.9
55.0
54.7
61.8
70.5
68.6

49.8
47.5
51.9
50.5
53.6
54.8
54.6
63.8
70.0
67.2

49.3
48.0
50.9
52.1
53.9
55.6
55.6
66.3
69.5
66.8

49.0
50.7
47.8
52.8
54.0
54.9
59.0
67.5
69.7
68.2

49.7
48.5
50.7
50.9
53.7
55.1
56.0
64.9
69.9
67.7

1965
1966
1967
1968
1969
1970
1971
1972
1973
1974

69.6
81.1
96.8
106.5
107.1
97.1
82.0
78.2
81.0
81.9

70.4
82.3
97.2
108.4
106.3
95.5
79.8
79.4
81.7
81.6

71.6
83.0
97.8
107.3
106.9
93.7
79.3
79.4
81.2
81.8

72.5
84.8
98.3
105.9
106.3
91.7
79.3
79.7
80.8
81.1

74.1
86.3
98.5
108.2
106.1
89.8
80.3
79.6
80.9
82.7

75.0
87.6
98.2
109.5
104.8
88.2
78.8
80.3
81.2
82.1

76.2
88.8
99.1
109.7
104.5
86.8
78.3
80.2
81.8
82.6

76.8
90.0
100.0
110.3
103.1
85.8
78.3
80.1
80.7
83.0

76.9
91.1
101.2
110.2
102.8
84.9
78.1
79.9
81.5
83.2

77.9
92.5
103.0
107.2
101.7
83.6
77.7
79.8
81.7
83.7

78.6
94.2
104.4
108.0
99.9
82.9
77.6
80.9
81.8
83.2

79.4
95.2
105.6
107.2
98.6
81.9
76.9
81.2
82.2
82.4

70.5
82.1
97.3
107.4
106.8
95.4
80.4
79.0
81.3
81.8

73.9
86.2
98.3
107.9
105.7
89.9
79.5
79.9
81.0
82.0

76.6
90.0
100.1
110.1
103.5
85.8
78.2
80.1
81.3
82.9

78.6
94.0
104.3
107.5
100.1
82.8
77.4
80.6
81.9
83.1

74.9
88.1
100.0
108.2
104.0
88.5
78.8
79.9
81.4
82.4

1975
1976
1977
1978
1979
1980
1981
1982

82.1
81.0
80.6
82.6
92.3
97.2
100.9
105.2

79.9
80.6
80.9
80.8
92.4
97.6
100.5
106.5

79.7
80.0
80.8
83.9
93.0
97.4
100.7
107.0

80.2
79.1
81.9
84.9
92.1
97.6
101.5
107.2

80.9
79.2
81.7
84.9
92.4
97.4
102.0
107.7

81.6
78.7
81.8
85.6
92.2
97.7
101.7
107.6

81.0
78.7
82.0
87.5
92.9
97.9
102.6
109.5

80.6
79.6
82.0
87.9
91.9
97.7
102.8
109.5

81.2
79.4
82.6
89.0
93.8
98.1
103.0
109.5

78.5
80.4
79.6
89.3
95.4
99.2
104.5
111.9

77.3
80.2
79.9
90.3
96.4
100.3
105.3
113.6

77.7
80.0
81.6
91.4
96.7
101.0
107.0
115.9

80.6
80.5
80.8
82.4
92.6
97.4
100.7
106.2

80.9
79.0
81.8
85.1
92.2
97.6
101.7
107.5

80.9
79.2
82.2
88.1
92.9
97.9
102.8
109.5

77.8
80.2
80.4
90.3
96.2
100.2
105.6
113.8

80.0
79.8
81.3
86.5
93.4
98.2
102.7
109.3

559. Manufacturers' inventories, defense products, book value
[MBons of dotors]

End of period

1947
1948
1949
1950
1951
1952
1953
1954
1955
1956
1957
1958
1959
1960
1961
1962
1963
1964
1965
1966
1967
1968
1969
1970
1971
1972
1973
1974

7,078
7,684
7,507
4,752
4,012
4,225
4,520

7,058
7,811
7,113
4,610
4,039
4,234
4,576

6,991
7,934
6,999
4,565
4,113
4,256
4,638

7,159
7,709
6,778
4,590
4,080
4,550
4,645

7,178
7,687
6,590
4,475
4,078
4,441
4,672

7,423
7,823
6,361
4,012
4,114
4,471
4,707

7,135
8,027
6,267
3,916
4,110
4,428
4,776

7,332
7,986
6,048
3,744
4,176
4,454
4,850

7,431
7,948
5,761
3,849
4,208
4,464
4,872

7,397
7,907
5,394
3,889
4,263
4,427
4,888

7,394
7,814
5,231
3,923
4,280
4,423
4,884

7,556
7,713
4,999
4,051
4,253
4,482
4,920

6,991
7,934
6,999
4,565
4,113
4,256
4,638

7,423
7,823
6,361
4,012
4,114
4,471
4,707

7,431
7,948
5,761
3,849
4,208
4,464
4,872

7,556
7,713
4,999
4,051
4,253
4,482
4,920

7,556
7,713
4,999
4,051
4,253
4,482
4,920

1975
1976
1977
1978
1979
1980
1981
1982

4,972
5,699
6,546
6,117
6,641
8,545
11,113
13,676

5,034
5,771
6,465
6,225
6,709
8,579
11,318
13,864

5,076
5,993
6,277
6,186
6,746
8,915
11,547
14,059

5,136
6,068
6,205
6,256
6,746
9,119
11,823
14,209

5,205
6,126
6,163
6,322
6,965
9,289
11,959
14,276

5,304
6,272
6,201
6,283
7,119
9,424
12,352
14,431

5,414
6,346
6,175
6,348
7,198
9,740
12,417
14,437

5,435
6,365
6,224
6,353
7,348
10,063
12,457
14,700

5,577
6,458
6,192
6,315
7,659
10,117
12,747
15,039

5,653
6,535
5,994
6,381
7,907
10,374
12,857
15,334

5,693
6,665
6,037
6,330
8,216
10,478
13,227
15,568

5,737
6,458
6,094
6,445
8,377
10.684
13,386
15,983

5,076
5,993
6,277
6,186
6,746
8,915
11.547
14,059

5,304
6,272
6,201
6,283
7,119
9,424
12,352
14,431

5,577
6,458
6,192
6,315
7,659
10,117
12,747
15,039

5,737
6,458
6,094
6,445
8,377
10,684
13,386
15,983

5,737
6,458
6,094
6,445
8,377
10,684
13,386
15,983

561. Manufacturers' untied orders, defense products
[MBons of doiars]

End of period

1947
1948
1949
1950
1951
1952
1953
1954
1955
1956
1957
1958
1959
1960
1961
1962
1963
1964
1965
1966
1967
1968
1969
1970
1971
1972
1973
1974

22,797
23,526
20,949
19,572
19,541
19,828
22,667

22,495
23,096
20,769
19,774
19,632
19,770
23,331

21,954
23,261
20,573
19,449
19,518
20,126
22,935

21,935
23,520
20,152
19,331
19,692
20,573
23,005

22,414
23,430
20,055
19,048
19,684
20,740
23,736

23,158
22,969
19,912
18,158
20,273
21,189
23,869

22,516
22,430
20,098
18,471
19,835
20,887
23,630

23,250
21,972
19,819
18,429
19,575
21,136
25.522

24,119
21,333
19,959
18,602
19,743
21,183
25,959

24,304
21,301
19,776
18,826
19,519
21,264
25,512

24,053
21,210
19,497
18.911
19.405
21.953
26,173

23,741
21,446
19,388
18,956
19,696
21,966
26.271

21,954
23,261
20,573
19,449
19,518
20,126
22,935

23,158
22,969
19,912
18,158
20,273
21,189
23,869

24,119
21,333
19,959
18,602
19,743
21.183
25.959

23,741
21,446
19,388
18,956
19,6%
21,966
26,271

23,741
21,446
19,388
18,956
19,6%
21,966
26,271

1975
1976
1977
1978
1979
1980
1981
1982

25,957
27,611
31,920
37,674
47,532
49,908
67,999
81,144

26,536
27,703
31,633
37,819
48,403
50,543
69,269
83,719

26,644
28,538
31,704
39,568
48.118
52,295
69.109
85.990

26,984
29,295
32,111
40,035
47,846
53.793
69.265
87,917

27,292
29.630
32,258
40,960
48,092
54,801
70.594
88.258

27,298
29.993
32.745
42,266
48,004
56.428
71.692
89.371

27,935
29.619
33.255
42.902
48.591
59,573
72,912
89.708

28,030
29,378
33,468
43,701
48.654
61,164
74,129
90,598

28,880
29,787
33,223
44,090
48,949
63,225
75,490
89,255

28,173
30,264
35,252
45,545
49,149
64,651
76,042
89,866

28,173
30,743
35,438
46,899
49,198
65,272
77,133
90,561

28,084
31.969
37,199
47,756
49,034
67,132
78,076
96,691

26,644
28,538
31,704
39.568
48.118
52,295
69,109
85,990

27,298
29,993
32,745
42,266
48,004
56,428
71,692
89,371

28.880
29.787
33,223
44,090
48,949
63.225
75,490
89,255

28,084
31.969
37,199
47,756
49,034
67,132
78,076
96,691

28,084
31.969
37.199
47.756
49.034
67,132
78,076
96.691

118



Quarterly

Monthly
Year

Jan.

Feb.

Mar.

Apr.

May

June

July

Aug.

Sept.

Oct.

Nov.

Dec.

.US

IV Q

!UL

570. Employment, defense products industries
[Thousands]

Annual

Average for period

1947
1948
1949
1950
1951
1952
1953
1954
1955
1956
1957
1958
1959
1960
1961
1962
1963
1964

1,218
1,249
1,250
1,235
1,303
1,369
1,307

1,211
1,254
1,246
1,240
1,316
1,366
1,294

1,210
1,255
1,244
1,244
1,326
1,354
1,285

1,212
1,259
1,240
1,248
1,330
1,350
1,278

1,210
1,267
1,233
1,255
1,340
1,347
1,266

1,222
1,271
1,201
1,257
1,350
1,345
1,258

1,224
1,280
1,213
1,259
1,361
1,337
1,246

1,229
1,277
1,228
1,255
1,369
1,332
1,235

1,233
1,274
1,224
1,262
1,369
1,328
1,236

1,239
1,266
1,218
1,274
1,370
1,328
1,232

1,246
1,259
1,230
1,283
1,371
1,317
1,231

1,249
1,256
1,232
1,292
1,371
1,318
1,228

1,213
1,253
1,247
1,240
1,315
1,363
1,295

1,215
1,266
1,225
1,253
1,340
1,347
1,267

1,229
1,277
1,222
1,259
1,366
1,332
1,239

1,245
1,260
1,227
1,283
1,371
1,321
1,230

1,225
1,264
1,230
1,259
1,348
1,341
1,258

1965
1966
1967
1968
1969
1970
1971
1972
1973
1974

1,228
1,357
1,588
1,719
1,691
1,546
1,262
1,109
1,154
1,179

1,224
1,382
1,614
1,723
1,672
1,521
1,238
1,115
1,155
1,179

1,230
1,406
1,630
1,719
1,688
1,503
1,213
1,117
1,157
1,182

1,237
1,430
1,645
1,713
1,686
1,472
1,190
1,123
1,160
1,185

1,247
1,457
1,650
1,713
1,682
1,441
1,179
1,125
1,165
1,187

1,254
1,478
1,662
1,718
1,658
1,421
1,167
1,124
1,169
1,189

1,267
1,502
1,668
1,717
1,659
1,400
1,150
1,124
1,171
1,193

1,276
1,525
1,675
1,725
1,643
1,373
1,147
1,127
1,175
1,152

1,289
1,537
1,686
1,708
1,627
1,353
1,141
1,136
1,171
1,188

1,300
1,554
1,699
1,691
1,613
1,321
1,132
1,134
1,172
1,197

1,315
1,573
1,709
1,701
1,580
1,299
1,123
1,144
1,176
1,193

1,331
1,579
1,718
1,703
1,565
1,281
1,114
1,152
1,176
1,180

1,227
1,382
1,611
1,720
1,684
1,523
1,238
1,114
1,155
1,180

1,246
1,455
1,652
1,715
1,675
1,445
1,179
1,124
1,165
1,187

1,277
1,521
1,676
1,717
1,643
1,375
1,146
1,129
1,172
1,178

1,315
1,569
1,709
1,698
1,586
1,300
1,123
1,143
1,175
1,190

1,266
1,482
1,662
1,712
1,647
1,411
1,171
1,128
1,167
1,184

1975
1976
1977
1978
1979
1980
1981
1982

1,185
1,096
1,069
1,120
1,242
1,346
1,391
1,386

1,153
1,092
1,074
1,125
1,262
1,352
1,388
1,380

1,156
1,093
1,069
1,138
1,278
1,358
1,390
1,377

1,138
1,087
1,085
1,143
1,282
1,360
1,393
1,376

1,152
1,084
1,088
1,162
1,287
1,364
1,393
1,372

1,139
1,071
1,098
1,173
1,296
1,365
1,395
1,371

1,129
1,059
1,109
1,184
1,305
1,367
1,394
1,372

1,123
1,069
1,103
1,193
1,306
1,373
1,397
1,364

1,114
1,069
1,103
1,195
1,317
1,377
1,397
1,366

1,103
1,065
1,066
1,207
1,328
1,382
1,392
1,363

1,089
1,063
1,068
1,219
1,340
1,386
1,385
1,363

1,089
1,068
1,093
1,236
1,346
1,388
1,390
1,359

1,165
1,094
1,071
1,128
1,261
1,352
1,390
1,381

1,143
1,081
1,090
1,159
1,288
1,363
1,394
1,373

1,122
1,066
1,105
1,191
1,309
1,372
1,396
1,367

1,094
1,065
1,076
1,221
1,338
1,385
1,389
1,362

1,131
1,076
1,085
1,175
1,299
1,368
1,392
1,371

577. Defense Department mitary personnel on active duty 0
[Thousands]

End of period

1947
1948
1949
1950
1951
1952
1953
1954

1,400
1,668
1,511
2,620
3,562
3,513
3,381

1,404
1,662
1,488
2,794
3,643
3,510
3,359

1,399
1,647
1,474
2,962
3,675
3,518
3,342

1,403
1,630
1,466
3,075
3,685
3,524
3,326

1,421
1,619
1,459
3,170
3,660
3,543
3,312

1,446
1,615
1,460
3,249
3,636
3,555
3,302

1,496
1,617
1,498
3,313
3,637
3,558
3,302

1,531
1,608
1,628
3,346
3,619
3,548
3,289

1,568
1,593
1,889
3,376
3,583
3,509
3,280

1,592
1,584
2,117
3,418
3,559
3,482
3,257

1,610
1,579
2,261
3,462
3,534
3,458
3,233

1,626
1,551
2,357
3,465
3,507
3,403
3,181

1,399
1,647
1,474
2,962
3,675
3,518
3,342

1,446
1,615
1,460
3,249
3,636
3,555
3,302

1,568
1,593
1,889
3,376
3,583
3,509
3,280

1,626
1,551
2,357
3,465
3,507
3,403
3,181

1,626
1,551
2,357
3,465
3,507
3,403
3,181

1955
1956
1957
1958
1959
1960
1961
1962
1963
1964

3,203
2,879
2,787
2,613
2,561
2,491
2,503
2,849
2,677
2,687

3,160
2,864
2,788
2,618
2,550
2,487
2,498
2,849
2,684
2,696

3,105
2,850
2,792
2,623
2,538
2,478
2,490
2,840
2,691
2,693

3,036
2,836
2,792
2,608
2,518
2,472
2,483
2,829
2,693
2,694

2,969
2,813
2,790
2,600
2,506
2,465
2,473
2,808
2,692
2,690

2,935
2,806
2,796
2,601
2,504
2,476
2,484
2,808
2,700
2,687

2,940
2,810
2,808
2,604
2,506
2,480
2,497
2,807
2,703
2,696

2,945
2,798
2,789
2,605
2,500
2,485
2,514
2,684
2,702
2,693

2,931
2,795
2,758
2,598
2,492
2,492
2,553
2,688
2,695
2,690

2,923
2,801
2,699
2,597
2,495
2,501
2,725
2,702
2,693
2,680

2,916
2,798
2,659
2,590
2,501
2,500
2,781
2,687
2,694
2,678

2,887
2,781
2,617
2,566
2,487
2,494
2,811
2,668
2,676
2,663

3,105
2,850
2,792
2,623
2,538
2,478
2,490
2,840
2,691
2,693

2,935
2,806
2,796
2,601
2,504
2,476
2,484
2,808
2,700
2,687

2,931
2,795
2,758
2,598
2,492
2,492
2,553
2,688
2,695
2,690

2,887
2,781
2,617
2,566
2,487
2,494
2,811
2,668
2,676
2,663

2,887
2,781
2,617
2,566
2,487
2,494
2,811
2,668
2,676
2,663

1965
1966
1967
1968
1969
1970
1971
1972
1973
1974

2,663
2,902
3,357
3,427
3,418
3,255
2,861
2,462
2,334
2,199

2,652
2,937
3,368
3,440
3,432
3,220
2,840
2,426
2,314
2,195

2,647
2,969
3,371
3,467
3,452
3,173
2,802
2,385
2,291
2,187

2,645
3,004
3,371
3,494
3,465
3,116
2,770
2,341
2,274
2,174

2,641
3,056
3,368
3,518
3,459
3,084
2,737
2,319
2,256
2,156

2,655
3,094
3,377
3,547
3,460
3,066
2,715
2,323
2,253
2,162

2,669
3,136
3,382
3,545
3,458
3,045
2,685
2,332
2,251
2,162

2,686
3,184
3,393
3,526
3,459
3,020
2,657
2,344
2,237
2,153

2,724
3,229
3,412
3,490
3,449
2,984
2,627
2,356
2,232
2,157

2,761
3,287
3,416
3,454
3,387
2,946
2,608
2,371
2,227
2,156

2,803
3,326
3,412
3,433
3,351
2,917
2,579
2,370
2,218
2,154

2,857
3,334
3,398
3,408
3,298
2,874
2,519
2,348
2,202
2,140

2,647
2,969
3,371
3,467
3,452
3,173
2,802
2,385
2,291
2,187

2,655
3,094
3,377
3,547
3,460
3,066
2,715
2,323
2,253
2,162

2,724
3,229
3,412
3,490
3,449
2,984
2,627
2,356
2,232
2,157

2,857
3,334
3,398
3,408
3,298
2,874
2,519
2,348
2,202
2,140

2,857
3,334
3,398
3,408
3,298
2,874
2,519
2,348
2,202
2,140

1975
1976
1977
1978
1979
1980
1981
1982

2,145
2,092
2,077
2,065
2,040
2,029
2,056
2,104

2,146
2,093
2,078
2,062
2,030
2,032
2,061
2,109

2,137
2,090
2,075
2,058
2,026
2,033
2,062
2,107

2,127
2,087
2,071
2,054
2,022
2,028
2,060
2,106

2,124
2,081
2,070
2,046
2,018
2,031
2,064
2,104

2,128
2,082
2,075
2,057
2,024
2,034
2,070
2,108

2,129
2,087
2,079
2,062
2,027
2,044
2,082
2,110

2,111
2,085
2,073
2,062
2,024
2,049
2,084
2,109

2,105
2,084
2,075
2,062
2,027
2,051
2,083
2,109

2,097
2,086
2,072
2,058
2,030
2,053
2,090
2,108

2,099
2,082
2,069
2,050
2,029
2,056
2,097
2,114

2,084
2,072
2,060
2,041
2,020
2,051
2,093
2,113

2,137
2,090
2,075
2,058
2,026
2,033
2,062
2,107

2,128
2,082
2,075
2,057
2,024
2,034
2,070
2,108

2,105
2,084
2,075
2,062
2,027
2,051
2,083
2,109

2,084
2,072
2,060
2,041
2,020
2,051
2,093
2,113

2,084
2,072
2,060
2,041
2,020
2,051
2,093
2,113

578. Defense Department ctvian personnel, direct hire
[Thousands]

End of period

1947
1948
1949
1950
1951
1952
1953
1954

750
1,047
1,290
1,426
1,241

744
1,100
1,296
1,410
1,232

743
1,150
1,300
1,390
1,224

745
1,182
1,307
1,365
1,219

754
1,208
1,315
1,342
1,212

753
1,235
1,337
1,332
1,209

779
1,249
1,339
1,320
1,202

859
1,258
1,334
1,308
1,193

904
1,261
1,328
1,288
1,180

941
1,270
1,329
1,278
1,177

967
1,274
1,330
1,253
1,181

1,278
1,330
1,248
1,180

743
1,150
1,300
1,390
1,224

753
1,235
1,337
1,332
1,209

904
1,261
1,328
1,288
1,180

1,278
1,330
1,248
1,180

1,278
1,330
1,248
1,180

1955
1956
1957
1958
1959
1960
1961
1962
1963
1964

1,183
1,165
1,174
1,083
1,084
1,048
1,033
1,060
1,064
1,042

1,182
1,165
1,172
1,084
1,078
1,047
1,034
1,061
1,061
1,040

1,181
1,165
1,168
1,084
1,076
1,046
1,035
1,061
1,056
1,039

1,182
1,168
1,165
1,088
1,075
1,043
1,038
1,063
1,056
1,039

1,185
1,171
1,160
1,089
1,074
1,044
1,041
1,066
1,054
1,036

1,187
1,179
1,161
1,097
1,078
1,047
1,042
1,070
1,050
1,030

1,186
1,184
1,160
1,098
1,078
1,043
1,043
1,072
1,052
1,031

1,187
1,187
1,154
1,097
1,071
1,045
1,052
1,076
1,053
1,034

1,180
1,180
1,130
1,093
1,064
1,037
1,052
1,067
1,046
1,026

1,181
1,183
1,105
1,094
1,060
1,035
1,058
1,069
1,045
1,024

1,179
1,179
1,093
1,092
1,056
1,033
1,060
1,070
1,044
1,023

1,167
1,176
1,085
1,088
1,052
1,032
1,059
1,066
1,043
1,019

1,181
1,165
1,168
1,084
1,076
1,046
1,035
1,061
1,056
1,039

1,187
1,179
1,161
1,097
1,078
1,047
1,042
1,070
1,050
1,030

1,180
1,180
1,130
1,093
1,064
1,037
1,052
1,067
1,046
1,026

1,167
1,176
1,085
1,088
1,052
1,032
1,059
1,066
1,043
1,019

1,167
1,176
1,085
1,088
1,052
1,032
1,059
1,066
1,043
1,019

1965
1966
1967
1968
1969
1970
1971
1972
1973
1974

1,017
1,063
1,246
1,267
1,315
1,252
1,146
1,119
1,073
1,034

1,018
1,072
1,260
1,265
1,316
1,240
1,143
1,117
1,057
1,039

1,018
1,088
1,268
1,266
1,317
1,224
1,142
1,112
1,051
1,042

1,022
1,101
1,273
1,267
1,316
1,218
1,141
1,107
1,051
1,046

1,027
1,111
1,274
1,271
1,312
1,213
1,136
1,090
1,051
1,053

1,034
1,138
1,303
1,317
1,342
1,194
1,127
1,083
1,031
1,070

1,046
1,166
1,311
1,334
1,348
1,184
1,129
1,068
1,019
1,074

1,055
1,187
1,306
1,316
1,327
1,177
1,132
1,073
1,022
1,064

1,045
1,184
1,274
1,276
1,296
1,169
1,130
1,071
1,019
1,049

1,052
1,200
1,277
1,275
1,285
1,162
1,128
1,081
1,022
1,046

1,060
1,222
1,277
1,275
1,272
1,158
1,125
1,083
1,026
1,046

1,057
1,230
1,271
1,273
1,262
1,152
1,122
1,082
1,026
1,043

1,018
1,088
1,268
1,266
1,317
1,224
1,142
1,112
1,051
1,042

1,034
1,138
1,303
1,317
1,342
1,194
1,127
1,083
1,031
1,070

1,045
1,184
1,274
1,276
1,296
1,169
1,130
1,071
1,019
1,049

1,057
1,230
1,271
1,273
1,262
1,152
1,122
1,082
1,026
1,043

1,057
1,230
1,271
1,273
1,262
1,152
1,122
1,082
1,026
1,043

1975
1976
1977
1978
1979
1980
1981
1982

1,038
1,023
994
982
972
964
973
1,008

1,036
1,019
995
982
971
965
972
1,013

1,034
1,016
995
982
968
966
974
1,018

1,034
1,011
995
982
968
969
980
1,022

1,035
1,010
997
988
972
975
990
1,028

1,042
1,010
1,009
1,000
979
988
1,008
1,045

1,052
1,014
1,008
1,002
982
990
1,023
1,051

1,038
1,006

1,030
997
982
980
960
971
984
990

1,031
995
983
981
964
971
998
1,016

1,029
996
985
981
967
972
1,006
1,024

1,028
995
983
978
967
973
1,009
1,027

1,034
1,016
995
982
968
966
974
1,018

1,042
1,010
1,009
1,000
979
988
1,008
1,045

1,030
997

1,028
995
983
978
967
973
1,009
1,027

1,028
995
983
978
967
973
1,009
1,027

See footnotes at end of this part.




998

994
974

973
1,017
1,043

960
971
984
990

119

Quarterly

Monthly

Year

Jan.

Feb.

Mar.

Apr.

May

June

July

Aug.

Sept.

Oct.

Nov.

Dec.

580. Defense Department net outlays, mitary functions and mitary assistance
[Mams of dolars]

1947
1948
1949
1950
1951
1952
1953
1954

1,015
1,630
3,460
3,861
3,600

998
1,783
3,412
4,022
3,643

950
1,975
3,613
4,107
3,369

960
2,154
3,747
3,989
3,270

954
2,317
3,804
4,079
3,220

1955
1956
1957
1958
1959
1960
1961
1962
1963
1964

3,172
3,077
3,508
3,363
3,590
3,586
3,672
4,068
4,253
4,054

3,046
3,059
3,580
3,475
3,552
3,537
3,759
4,096
4,177
4,258

3,149
3,004
3,601
3,435
3,588
3,513
3,800
4,179
3,322
4,001

3,151
3,166
3,562
3,375
3,624
3,540
3,781
4,187
4,226
4,237

1965
1966
1967
1968
1969
1970
1971
1972
1973
1974

3,992
4,634
6,028
6,794
6,471
6,495
6,201
6,280
6,256
6,827

3,899
4,618
6,021
6,346
6,714
6,485
6,162
6,205
6,377
6,625

3,961
4,900
6,091
6,025
6,608
6,194
6,082
6,341
6,366
6,467

4,036
4,884
6,460
6,724
6,490
6,323
5,813
6,722
6,194
6,762

1975
1976
1977
1978
1979
1980
1981
1982

7,150
7,175
7,476
8,493
9,404
10,900
12,639
14,152

7,503
6,908
8,017
8,271
9,466
10,652
12,932
14,689

7,332
7,477
7,961
8,375
9,500
11,358
12,619
15,075

_LS

IV Q

!!L

Annual

Total for period

768
2,523
3,591
3,867
3,758

1,078
1,049
3,133
4,196
3,621
3,041

1,076
1,055
2,911
3,328
3,868
3,117

1,040
1,132
2,983
4,229
3,981
3,062

1,011
1,291
3,129
3,742
3,847
3,160

1,008
1,458
3,167
3,843
3,721
3,108

1,014
1,533
3,224
3,965
3,631
3,160

2,963
5,388
10,485
11,990
10,612

2,682
6,994
11,142
11,935
10,248

3,194
3,236
9,027
11,753
11,470
9,220

3,118
3,121
3,621
3,429
3,610
3,490
3,770
4,302
4,048
4,590

3,253
3,917
3,455
3,607
3,631
3,176
3,711
4,256
4,057
4,674

3,049
2,950
3,642
3,636
3,692
3,734
3,720
4,176
4,356
3,566

3,097
3,254
3,633
3,487
3,649
3,665
3,713
4,136
4,203
3,768

3,447
3,288
3,412
3,686
3,607
3,682
3,808
4,149
4,193
3,949

3,069
3,364
3,173
3,758
3,631
3,628
3,837
4,208
4,188
3,918

3,010
3,399
3,416
3,661
3,630
3,645
4,001
4,290
4,091
4,030

3,123
3,359
3,335
3,681
3,617
3,752
4,054
4,122
4,163
3,958

9,367
9,140
10,689
10,273
10,730
10,636
11,231
12,343
11,752
12,313

9,522
10,204
10,638
10,411
10,865
10,206
11,262
12,745
12,331
13,501

9,593
9,492
10,687
10,809
10,948
11,081
11,241
12,461
12,752
11,283

4,236
4,753
5,830
6,959
6,714
6,416
5,982
6,623
5,896
6,721

4,035
5,214
5,061
6,769
6,571
5,655
6,540
7,130
6,597
7,001

4,069
5,521
7,279
6,022
6,715
7,302
5,771
6,107
5,868
6,755

4,255
5,315
6,404
6,343
6,838
6,519
5,712
5,766
6,598
6,957

4,261
5,599
6,434
6,663
6,473
6,276
5,959
5,502
6,527
7,584

4,449
5,521
6,399
6,495
6,747
6,136
6,139
6,237
6,490
6,973

4,423
5,515
6,375
6,805
6,764
6,094
6,070
6,303
6,507
7,398

4,639
5,627
6,022
6,842
6,553
6,341
6,217
6,232
6,151
7,451

11,852
14,152
18,140
19,165
19,793
19,174
18,445
18,826
18,999
19,919

12,307
14,851
17,351
20,452
19,775
18,394
18,335
20,475
18,687
20,484

12,585
16,435
20,117
19,028
20,026
20,097
17,442
17,375
18,993
21,296

3,033
4,282
9,520
11,550
11,199
9,428
9,202
10,122
9,924
11,100
10,878
11,025
11,892
12,620
12,442
11,906
13,511
16.663
18,796
20,142
20,064
18,571
18,426
18,772
19,148
21,822

7,742
7,426
8,040
8,394
10,494
11,193
13,889
16,312

7,962
7,229
8,119
9,638
10,339
11,425
13,809
15,050

7,251
7,530
8,046
8,592
9,993
11,993
14,014
16,881

7,285
7,892
8,215
9,026
10,139
12,193
14,277
15,972

7,358
7,330
8,687
8,762
10,448
12,224
14,548
17,087

7,518
7,659
8,484
9,407
10,887
11,992
15,298
16,779

21,985
21,560
23,454
25,139
28,370
32,910
38,190
43,916

21,346
21,800
24,496
26,345
28,597
33,786
39,530
46,383

22,955
22,185
24,205
26,624
30,826
34,611
41,712
48,243

22,161
22,881
25,386
27,195
31,474
36,409
44,123
49,838

88,447
88,426
97,541
105,303
119,267
137,716
163,555

7,095
7,532
6,719
7,672
7,101
7,027
8,069
8,404
8,023
9,056
8,217
9,072
9,400
9,836
9,361
11,188
11,061
11,537
12,833
13,433
13,264
15,670
15,379
15,334
588. Manufacturers' shipments,
[Mjfons of dolars]

13,163
30,929
44,930
46,594
39,508
37,684
38,958
41,938
42,593
43,421
42,948
45,626
50,169
49,277
49,003
50,255
62,101
74,404
78,787
79,658
76,236
72,648
75,448
75,827
83,521

Total for period

1947
1948
1949
1950
1951
1952
1953
1954
1955
1956
1957
1958
1959
1960
1961
1962
1963
1964
1965
1966
1967
1968
1969
1970
1971
1972
1973
1974

2,392
2,415
1,997
1,866
1,569
1,687
1,717

2,509
2,300
2,042
1,756
1,577
1,663
1,719

2,425
2,299
2,071
1,718
1,588
1,712
1,744

2,289
2,376
2,110
1,649
1,651
1,726
1,778

2,346
2,255
2,035
1,733
1,633
1,775
1,722

2,217
2,153
2,044
2,071
1,604
1,748
1,801

2,558
2,207
1,969
1,653
1,786
1,984
1,743

2,163
2,302
2,048
1,732
1,749
1,875
1,720

2,242
2,171
2,001
1,485
1,758
1,825
1,821

2,338
2,119
2,051
1,539
1,761
1,852
1,827

2,289
2,219
1,935
1,607
1,789
1,805
1,783

2,377
2,233
1,904
1,508
1,772
1,749
1,936

7,326
7,014
6,110
5,340
4,734
5,062
5,180

6,852
6,784
6,189
5,453
4,888
5,249
5,301

6,963
6,680
6,018
4,870
5,293
5,684
5,284

7,004
6,571
5,890
4,654
5,322
5,406
5,546

28,145
27,049
24,207
20,317
20,237
21,401
21,311

1975
1976
1977
1978
1979
1980
1981
1982

1,875
2,104
2,534
2,500
2,603
2,946
3,613
4,083

1,893
2,131
2,523
2,560
2,552
3,107
3,790
4,347

1,900
2,132
2,415
2,583
2,733
3,118
3,945
4,417

1,927
2,169
2,409
2,659
2,620
3,240
3,885
4,277

1,813
2,208
2,503
2,606
2,616
3,330
3,841
4,672

1,882
2,099
2,482
2,583
2,744
3,319
3,959
4,881

1,853
2,192
2,613
2,551
2,663
3,438
4,097
4,858

1,996
2,274
2,471
2,593
2,832
3,375
4,223
4,766

1,832
2,208
2,534
2,633
2,699
3,666
4,074
4,981

2,031
2,346
2,512
2,671
2,857
3,678
4,159
5,010

2,047
2,321
2,566
2,552
2,948
3,693
4,178
4,968

1,917
2,474
2,505
2,690
3,033
3,582
4,301
5,077

5,668
6,367
7,472
7,643
7,888
9,171
11,348
12,847

5,622
6,476
7,394
7,848
7,980
9,889
11,685
13,830

5,681
6,674
7,618
7,777
8,194
10,479
12,394
14,605

5,995
7,141
7,583
7,913
8,838
10,953
12,638
15,055

22,966
26,658
30,067
31,181
32,900
40,492
48,065
56,337

602. Exports, excludmg mitary aid shipments
[Mffions of dolars]

1947
1948
1949
1950
1951
1952
1953
1954

Total for period

:.
1,110
1,190
795
970
1,250
1,041
962

1,102
1,072
792
1,022
1,236
971
1,047

1,049
1,095
772
1,080
1,281
1,001
862

1,023
1,085
786
1,256
1,138
1,024
1,196

1,062
1,046
772
1,133
1,129
1,008
1,087

989
1,078
831
1,132
1,063
998
1,091

1,069
976
821
1,234
970
1,011
1,076

1,125
977
813
1,233
1,012
1,026
1,067

950
908
889
1,233
1,028
1,154
1,056

1,055
906
893
1,101
1,004
951
1,111

855
868
940
1,273
1,026
1,035
1,147

1,188
858
915
1,309
1,016
1,073
1,130

3,261
3,357
2,359
3,072
3,767
3,013
2,871

3,074
3,209
2,389
3,521
3,330
3,030
3,374

3,144
2,861
2,523
3,700
3,010
3,191
3,199

3,098
2,632
2,748
3,683
3,046
3,059
3,388

12,653
12,051
9,993
13,968
13,203
12,262
12,854

1955
1956
1957
1958
1959
1960
1951
1962
1963
1964

1,168
1,289
1,653
1,423
1,314
1,534
1,622
1,667
987
2,052

1,198
1,290
1,577
1,322
1,256
1,554
1,708
1,819
2,143
2,076

1,159
1,348
1,881
1,385
1,326
1,541
1,755
1,664
1,954
2,067

1,113
1,394
1,739
1,364
1,305
1,627
1,637
1,804
1,927
2,081

1,132
1,413
1,560
1,379
1,320
1,644
1,578
1,764
1,899
2,076

1,170
1,442
1,674
1,337
1,357
1,643
1,621
1,877
1,837
2,080

1,223
1,412
1,617
1,361
1,397
1,711
1,698
1,750
1,839
2,118

1,215
1,454
1,617
1,365
1,432
1,660
1,695
1,709
1,912
2,095

1,235
1,586
1,605
1,354
1,528
1,661
1,669
1,898
1,964
2,237

1,260
1,509
1,546
1,349
1,328
1,685
1,809
1,542
1,943
2,150

1,215
1,360
1,534
1,401
1,376
1,673
1,738
1,717
1,946
2,183

1,226
1,836
1,493
1,339
1,493
1,631
1,700
1,811
2,059
2,394

3,525
3,927
5,111
4,130
3,896
4,629
5,085
5,150
5,084
6,195

3,415
4,249
4,973
4,080
3,982
4,914
4,836
5,445
5,663
6,237

3,673
4,452
4,839
4,080
4,357
5,032
5,062
5,357
5,715
6,450

3,701
4,705
4,573
4,089
4,197
4,989
5,247
5,070
5,948
6,727

14,291
17,333
19,495
16,367
16,407
19,626
20,190
20,973
22,427
25,690

1965
1966
1967
1968
1969
1870
1971
1972
1973
1974

1,228
2,298
2,639
2,814
2,161
3,406
3,601
4,074
4,955
7,171

1,623
2,353
2,582
2,775
2,266
3,546
3,694
3,824
5,070
7,549

2,739
2,530
2,524
2,439
3,188
3,375
3,790
3,868
5,311
7,630

2,406
2,316
2,608
2,855
3,318
3,410
3,631
3,820
5,494
8,116

2,299
2,416
2,549
2,740
3,268
3,661
3,746
3,882
5,561
7,654

2,235
2,484
2,582
2,870
3,179
3,727
3,672
3,971
5,728
8,326

2,300
2,469
2,601
2,858
3,182
3,704
3,573
4,074
5,865
8,330

2,329
2,460
2,566
2,950
3,366
3,591
3,666
4,196
6,042
8,446

2,291
2,502
2,597
3,211
3,341
3,553
4,487
4,176
6,420
8,426

2,349
2,616
2,415
2,631
3,342
3,688
2,669
4,316
6,585
8,687

2,378
2,491
2,671
2,972
3,398
3,499
3,196
4,473
6,879
8,978

2,362
2,467
2,677
2,977
3,280
3,569
3,881
4,558
6,949
8,865

5,590
7,181
7,745
8,028
7,615
10,327
11,085
11,766
15,336
22,350

6,940
7,216
7,739
8,465
9,765
10,798
11,049
11,673
16,783
24,096

6,920
7,431
7,764
9,019
9,889
10,848
11,726
12,446
18,327
25,202

7,089
7,574
7,763
8,580
10,020
10,756
9,746
13,347
20,413
26,530

26,691
29,379
30,934
34,063
37,332
42,659
43,549
49,199
70,823
98,092

1975
1976
1977
1978
1979
1980
1981
1982

9,498
9,113
9,677
9,868
13,281
17,419
18,902
18,584

8,812
8/935
9,900
9,946
13,627
16 984
19,788
18,614

8,720
9,036
10,167
11,150
14,317
18,265
21,278
18,462

8,718
9,380
9,955
11,632
13,988
18,567
19,786
18,005

8,250
9,575
10,531
11,787
14,106
17,647
18,899
18,124

8,758
9,738
10,096
12,268
14,828
18,440
19,750
18,823

8,890
9,994
10,380
11,669
15,706
18,267
19,289
18,060

9,043
9,831
9,698
12,291
15,754
19,086
19,031
17,463

9,118
9,846
11,044
13,288
15,843
18,828
19,551
17,320

9,246
9,779
9,364
12,906
16,700
19,217
19,163
16,671

9,426
9,609
9,486
13,460
16,938
18,715
19,153
15,852

9,280
10,457
11,001
13,299
16,753
19,251
18,885
16,347

27,030
27,084
29,744
30,964
41,225
52,668
59,968
55,660

25,726
28,693
30,582
35,687
42,922
54,654
58,435
54,952

27,051
29,671
31,122
37,248
47,303
56,181
57,871
52,843

27,952
29,845
29,851
39,665
50,391
57,183
57,201
48,870

107,652
115,223
121,232
143,681
181,860
220,630
233,677
212,325

120



Quarterly

Monthly

Year

Jan.

Feb.

Mar.

Apr.

May

June

July

Aug.

Sept.

Oct.

Nov.

Dec.

10

IIQ

604. Exports of domestic agricultural products
[llllions of doiars]

III Q

IV Q

Annual

Total for period

1947
1948
1949
1950
1951
1952
1953
1954

3,960
3,473
3,578
2,873
4,040
3,431
2,848
3,054

1955
1956
1957
1958
1959
1960
1961
1962
1963
1964

3,198
4,170
4,506
3,855
3,955
4,832
5,024
5,034
5,584
6,348

•

1965
1966
1967
1968
1969
1970
1971
1972
1973
1974

228
547
569
579
186
541
680
766
1,111
1,774

349
554
542
573
246
569
633
703
1,142
1,829

662
594
526
518
490
533
658
606
1,268
1,869

550
550
526
528
609
565
636
628
1,251
1,978

1975
1976
1977
1978
1979
1980
1981
1982

2,369
1,917
1,762
1,818
2,531
3,442
4,295
3,258

1,830
1,630
2,004
2,058
2,444
3,484
3,977
3,590

1,703
1,668
2,112
2,363
2,609
3,325
4,201
3,225

1,723
1,892
2,142
2,428
2,540
3,329
3,604
3,400

1947

77777

538
552
542
491
576
566
623
722
1,412
1,882

550
572
539
475
526
612
624
771
1,442
1,806

1,575
1,480
1,950
1,948
2,360
2,077
2,861
2,904
2,597
2,828
3,326
3,085
3,708
3,256
3,527
3,332
606. Eiportojjf nonelectrical
[Mttons of doiars]

595
531
512
503
541
614
632
754
1,370
1,842

500
624
513
544
494
610
636
796
1,731
1,698

515
601
523
509
518
639
866
837
1,726
1,654

562
595
507
441
612
694
447
882
1,706
1,691

541
580
560
516
565
628
546
927
1,769
1,978

591
580
522
569
551
689
768
1,007
1,785
1,922

1,239
1,695
1,637
1,670
922
1,643
1,971
2,075
3,521
5,472

1,638
1,674
1,607
1,494
1,711
1,743
1,883
2,121
4,105
5,666

1,610
1,756
1,548
1.556
1,553
1,863
2,134
2,387
4,827
5,194

1,694
1,755
1,589
1.526
1,728
2.011
1,761
2,816
5,260
5,591

6,229
6,874
6,380
6,227
5.936
7,247
7,698
9,407
17,681
21,999

1,735
2,039
1,976
2,392
2,954
3,286
3,089
2,789

1,872
2,058
1,801
2,774
3,019
3,557
3,202
2,763

1,932
2,160
2,064
2,512
3,032
3,596
3,563
2,648

2,060
2,231
1,654
2,596
3,309
3,485
3,735
2,681

1,821
1,750
1,755
2,533
3,459
3,464
3,442
2,783

1,776
1,860
2,111
2,555
3,311
3,838
3,220
2,637

5,902
5,215
5,878
6,239
7,584
10,251
12,473
10,073

4,778
5,790
6,579
8,193
7,965
9,740
10,568
10,259

5,539
6,257
5,841
7,678
9,005
10,439
9,854
8,200

5,657
5,841
5,520
7.684
10.079
10,787
10,397
8.101

21,886
22,998
23,671
29.384
34,755
41,256
43.292
36.633

Total for period

1948
1949
1950
1951
1952
1953
1954
1955
1956
1957
1958
1959
1960
1961
1962
1963
1964
426
484
485
526
608
755
686
776
1,028
1,398

433
457
476
557
652
706
663
814
1,041
1,509

414
473
497
573
616
718
871
818
1,090
1,481

472
491
458
512
678
785
582
781
1,115
1,552

450
475
510
586
657
701
672
862
1,107
1,624

463
486
520
518
630
720
783
860
1,111
1,523

1,032
1,344
1,513
1,491
1.467
1.953
2.147
2,328
2,716
3,622

1,323
1,349
1,500
1,573
1,863
2,049
2,100
2.307
2,898
3,965

1,273
1,414
1.458
1,656
1,876
2,179
2,220
2,408
3,159
4,388

1,385
1,452
1,488
1.616
1,965
2.206
2,037
2,503
3,333
4,699

5.013
5,559
5.959
6.336
7,171
8,387
8,504
9,546
12,106
16,674

1,770
1,952
1,862
2,451
3,022
3,985
4,567
4,305

1,752
1,675
1,732
2,528
3,241
4,230
6,207
3,856

1,750
1,883
2,133
2,815
3,153
4,027
4,559
4,197

1,814
1,821
1,556
2,625
3,251
4,117
4,338
3,829

1,770
1,814
1,791
2,718
3,172
3,968
4,366
3,686

1,843
1,983
2,056
2,824
3,240
3,819
4,005
3,719

4,930
5,403
5,582
6,721
8,431
10,174
12,565
12,397

5,252
5,525
5,511
7,314
8,599
11,134
12,859
12,100

5,272
5,510
5,727
7,794
9,416
12,242
15,333
12,358

5.427
5.618
5.403
8,167
9,663
11,904
12,709
11,234

20,881
22,056
22,223
29,996
36,109
45,454
53,466
48,089

620
523
684
967
882
913
935

610
515
787
940
846
899
847

626
487
821
885
897
910
851

596
565
955
838
915
968
818

620
572
912
818
805

555
603
876
845
904
873
821

677
594
891
812
978
837
874

1,697
1,702
1,775
2,863
2,641
2,729
2,469

1.720
1,605
1,926
2,958
2,591
2,842
2,728

1,832
1,567
2,563
2,663
2,658
2,777
2,516

1,852
1,769
2,679
2,457
2,781
2,528
2,500

7,124
6,622
8,852
10,967
10,717
10,873
10,215

939
1,040
1,060
1,066
1,330
1,278
1,162
1,396
1,409
1,535

928
1,069
1,058
1,037
1,301
1,276
1,180
1,355
1,432
1,525

953
1,063
1,111
1,023
1,227
1,268
1,359
1,341
1,447
1,576

952
1,065
1,099
1,046
1,289
1,245
1,243
1,347
1,507
1,585

992
1,132
1,074
1,083
1,411
1,210
1,266
1,479
1,455
1,559

1,045
1,055
1,086
1,091
1,184
1,197
1,298
1,316
1,459
1,550

1,045
969
1,065
1,156
1,292
1,162
1,305
1,419
1,459
1,688

971
1,050
1,080
1,139
1,353
1,142
1,326
1,380
1,488
1,655

2,690
3,142
3,231
3,126
3,588
3,891
3,472
3,984
4,084
4,401

2,769
3,128
3,218
3,154
3,849
3,907
3,500
4,119
4,253
4,585

2,897
3,260
3,284
3,152
3,927
3,723
3,868
4,167
4,409
4,720

3,061
3,074
3,231
3,386
3,829
3,501
3,929
4,115
4,406
4,893

11,384
12,615
12,982
12,792
15,207
15,018
14,714
16,390
17,138
18,684

1,811
2,090
2,198
2,604
3,183
3,262
3,774
4,417
5,360
8,237

1,797
2,060
2,118
2,755
3,256
3,337
3,908
4,486
5,703
8,460

1,848
2,102
2,184
2,792
3,152
3,265
4,037
4,468
5,775
8,870

1,742
2,216
2,245
2,725
3,074
3,254
3,832
4,565
5,829
9,214

1,825
2,137
2,145
2,872
3,163
3,346
3,913
4,726
6,010
9,504

1,858
2,288
2,198
2,951
3,078
3,423
4,179
4,612
5,644
9,002

1,885
2,303
2,254
2,736
3,192
3,498
3,469
4,738
5,996
9,026

1,941
2,195
2,396
2,883
3,180
3,428
3,456
5.148
6,684
9,239

1,911
2,196
2,493
2,908
3,078
3,402
4,169
5,002
6,291
9,647

4,666
6,029
6,699
7,867
7,656
9,720
10,792
13,424
16,141
22,196

5,456
6,252
6,500
8,151
9,591
9,864
11,719
13,371
16,838
25,567

5,425
6,641
6,588
8,548
9,315
10,023
11,924
13,903
17,483
27,720

5,737
6,694
7,143
8,527
9,450
10,328
11,094
14,888
18.971
27.912

21,364
25,542
26,812
33,226
36,043
39,952
45,563
55,583
69,476
103,321

8,218
9,940
12,127
14,773
16,061
19,831
22,249
17,714

7,470
9,489
11,478
14,295
16,805
20,658
21,232
20,477

7,311
10,578
13,676
14,226
17,201
20,427
22,005
21,187

8,110
11,028
12,654
14,896
17,116
19,189
20,114
19,849

8,166
10,738
12,530
14,412
18,659
19,719
23,242
22,930

8,388
10,972
13,158
15,246
18,632
19,934
21,274
20,581

8,533
10,810
12,996
15,091
19,271
20,327
23,077
21,006

8,464
10,951
12,778
15,238
19,013
19,856
22,508
18,892

8,670
11,566
13,661
15,300
20,156
21,427
19,746
19,154

25,998
28,385
36,476
42,598
47,389
67,881
65,561
62,161

22,999
30,007
37,281
43,294
50,067
60,916
65,486
59,378

24,664
32,738
38,342
44,554
54,407
58,842
64,630
63,360

25.667
33.327
39,435
45,629
58,440
61.610
65.331
59,052

99.305
124,614
151,534
176,052
210,285
245,262
260,982
243,951

432
448
508
519
622

1965
1966
1967
1968
1969
1970
1971
1972
1973
1974

230
435
521
523
408
628
732
775
880
1,155

322
439
502
530
437
678
691
780
911
1,197

480
470
490
438
622
647
724
773
925
1,270

456
433
494
539
647
651
720
757
926
1,288

1975
1976
1977
1978
1979
1980
1981
1982

1,672
1,780
1,831
2,084
2,682
3,297
4,058
4,346

1,632
1,817
1,892
2,187
2,832
3,454
4,155
4,054

1,626
1,806
1,859
2,450
2,917
3,423
4,352
3,997

1,760
1,818
1,808
2,415
2,706
3,571
4,311
3,932

1947

7777

1948
1949....
1950
1951
1952
1953
1954

526
587
592
939
856
904
855

589
567
606
927
881
902
852

582
548
577
997
904
923
762

510
534
606
1,005
870
998
945

590
548
636
986
839
931
848

1955
1956
1957
1958
1959
1960
1961
1962
1963
1964

886
1,045
1,057
1,053
1,166
1,247
1,154
1,320
1,089
1,421

897
1,063
1,056
1,022
1,202
1,353
1,154
1,325
1,510
1,462

907
1,034
1,118
1,051
1,220
1,291
1,164
1,339
1,485
1,518

902
1,019
1,100
1,051
1,218
1,353
1,158
1,368
1,412
1,525

1965
1966
1967
1968
1969
1970
1971
1972
1973
1974

1,199
1,966
2,317
2,687
2,002
3,222
3,599
4,436
5,244
6,665

1,606
2,013
2,216
2,592
2,672
3,279
3,564
4,473
5,483
7,534

1,861
2,050
2,166
2,588
2,982
3,219
3,629
4,515
5,414
7,997

1975
10,145
8,133
9,302
1976
9,341
12,990
1977
10,694
14,617
1978
13,661
14,919
1979
16,813
21,834
1980
21,181
21,916
1981
22,616
19,570
1982
22,573
See footnotes at end of this part.

7,720
9,742
12,792
14,320
15,657
24,866
21,029
20,018




767
975
1,338

435
468
498
515
594
718
700
783
997
1,339

1,772
1,720
1,871
1,836
1,868
1,835
2,427
2,472
3,034
2,859
3,620
3,943
4,388
4,160
3,957
4,211
612. General imports
[MBons of doHarsl

Total for period

121

Year

Jan.

Feb.

Mar.

May

Apr.

Monthly
July
June

Aug.

Sept.

Oct.

Nov.

Dec.

IQ

614 Imports of petroleum and petroleum products

Quarterly
III Q
II0

[MMons of dolars]

IV Q

Annual

Total for period

1947
1948
1949
1950
1951
1952
1953
1954
1955
1956
1957
1958
1959
1960
1961
1962
1963
1964
1965
1966
1967
1968
1969
1970
1971
1972
1973
1974

162
162
185
192
208
226
219
332
462

165
174
172
187
206
252
220
334
456

171
183
172
179
182
237
249
342
492

188
162
183
182
235
237
250
324
487

166
179
206
180
215
203
270
331
550

209
187
167
194
203
229
276
346
588

150
191
162
228
215
200
288
350
520

170
201
155
182
211
234
293
352
703

176
178
160
213
218
221
314
387
700

173
173
173
210
223
231
286
390
787

170
191
172
199
207
233
335
406
942

192
154
179
198
238
256
335
416
972

1,167

1,512

1,560

2,299

2,117

2,063

2,306

2,274

2,200

2,281

2,308

2,335

1975
1976
1977
1978
1979
1980
1981
1982

3,080
2,475
3,217
3,000
3,580
5,614
7,359
6,810

1,781
2,338
3,370
3,626
3,634
7,741
8,018
4,396

1,211
2,361
4,191
3,094
3,667
6,991
5,992
4,290

2,387
2,494
3,611
3,162
3,832
5,185
6,919
3,894

2,008
2,860
3,266
3,257
4,949
6,018
6,335
5,731

2,515
2,716
3,436
3,307
5,662
4,982
5,709
4,903

2,320
2,834
3,386
3,347
6,050
5,876
6,123
5,433

2,140
2,968
3,410
3,489
5,351
6,051
6,483
4,757

2,360
3,051
3,233
3,588
6,502
6,254
4,636
4,694

1,354
1,990
1,746
2,887
2,118
2,563
3,192
3,734
3,415
3,038
3,229
3,194
4,692
4,000
4,199
7,191
6,611
5,153
6,521
5,400
6,329
4,180
4,855
5,624
616. Imports of automobies and parts

498
519
529
558
596
715
688

563
528
556
556
653
669
7%

496
570
477
623
644
655
895

535
518
524
607
668
720
956

1,008
1,410
4,239

1,001
1,625
6,479

1,089
1,923
6,780

1,212
2,701
6,924

2,092
2,127
2.086
2,343
2,560
2,764
3,323
4,300
7,614
24,270

6,072
7,174
10,778
9,720
10,881
20,346
21,369

5,487
7,175
10,537
9,429
12,031
18,987
19,769
12,929

6,513
8,463
10,117
9,758
15,303
16,153
17,444
16,258

6,820
8,853
10,029
10,424
17,903
18,181
17,242
14,884

24,814
31,798
41,526
39,104
56,036
73,771
75,824
59,567

115,496

Total for period

[ M B O D S of dolars]

1947
1948
1949
1950
1951
1952
1953
1954
1955
1956
1957
1958
1959
1960
1961
1962
1963
1964
1965
1966
1967
1968
1969
1970
1971
1972
1973
1974
1975
1976
1977
1978
1979
1980
1981
1982

1947
1948
1949
1950
1951
1952
1953
1954
1955
1956
1957
1958
1959
1960
1961
1962
1963
1964
1965
1966
1967
1968
1969
1970
1971
1972
1973
1974
1975
1976
1977
1978
1979
1980
1981
1982

31
106
176
299
293
417
482
589
780
862
742
1,085
1,083
1,529
1,963
1,899
2,264
2,389

54
114
161
273
315
404
541
662
731
877
654

61
125
169
229
325
404
561
680
753
797
823

89
108
159
260
399
457
533
647
725
898
776

54
113
184
329
392
388
529
680
814
901
731
976

59
123
197
292
383
428
576
636
821
841
782

64
130
201
314
391
419
525
602
806
928
879

74
157
176
334
438
498
672
622
722
912
861

84
139
206
346
443
446
549
681
858
809
888
871

1,025
1,055
1,221
1,169
1,238
1,041
1,117
1,315
1,426
1,360
1,328
1,428
1,266
1,183
1,299
1,248
1,872
1,684
1,812
1,666
1,822
1,715
1,659
1,661
1,581
1,805
1,815
1,851
1,730
2,113
1,849
1,956
1,589
1,706
1,710
1,999
1,843
2,103
2,139
2,270
2,189
2,035
1,960
2,257
2,108
2,635
2,464
2,042
2,299
1,943
1,742
2,125
2,785
2,626
2,455
2,795
2,370
2.444
2,135
2,389
2,596
721. Organization for Economic Cooperation and Development, European countries—index of industrial production
[1967=100]

93
144
211
371
421
438
579
768
840
812
873
1,128
1,465
1,875
1,984
2,314
2,239
2,130

95
213
231
365
428
426
642
694
631
814
1,013
1,221
1,479
1,822
1,871
1,897
2,164
2,189

272
496
648

202
344
540
881

187
433
560
942

1,225
1,584
1,931
2,264
2,536

1,174
1,273
1,638
1,963
2,360
2,640

1,230
1,249
1,857
1,923
2,277
2,699

1,082
1,292
1,310
1,770
2,143
2,329
2,435

1,618
2,254
3,706
4,629
5.057
6,849
7,960
9,230
10,310

2,219
3,243
3,630
4,771
5,258
5,894
6,131
7,120

2,289
3,366
3,809
5,058
5,537
5,552
6,598
7,800

2,678
3,318
4,071
5,300
5,777
6,512
6,686
7,620

2,774
3,220
4,370
5,569
5,660
6,400
6,867
6,763

9,960
13,147
15,880
20,698
22,232
24,358
26,282
29,303

41
45
50
61
64
64
68
76
78
81
85
91
95
99
100
107
118
124
127
134
144
146
136
146
149
151
159
159
156
154

146
345
506
801
933

124
127
135
147
147
135
146
150
151
159

42
46
51
62
64
64
72
78
79
82
87
93
97
99
102
110
118
125
128
137
147
144
137
148
147
154
161

43
46
52
62
64
65
72
78
79
83
88
93
97
98
102
112
120
125
128
137
147
141
139
150
148
155
162

43
47
52
62
64
65
72
78
80
83
87
93
97
99
105
113
120
125
127
141
147
137
140
150
148
155
162

39
43
47
58
63
64
65
73
76
80
81
90
94
98
98
103
114
123
126
129
141
147
137
141
151
149
155

40
44
49
60
63
64
68
75
77
80
84
90
95
99
99
103
117
124
126
132
143
149
134
145
148
150
158

41
45
51
62
64
64
69
76
78
82
87
91
96
99
100
109
119
125
128
134
145
147
135
147
149
152
160

43
46
52
62
64
65
72
78
79
83
87
93
97
99
103
112
119
125
128
138
147
141
139
149
148
155
162

161
158

154
152

155
158

156
158

156
158

156
156

163
157

160
156

157
156

156
157

152

151

152

151

151

150 1

157

155

152

151

39
43
47
57
63
64
65
73
76
80
82
90
94
98
98
103
114
124
127
128
141
147
137
141
150
148
155

40
43
48
59
63
65
65
73
78
80
80
90
93
99
98
103
114
124
125
131
141
147
136
143
151
148
156

40
44
48
60
63
64
67
75
78
80
83
90
94
98
99
105
117
124
127
132
141
148
135
144
148
151
156

40
44
48
60
63
64
68
75
76
80
84
90
95
99
98
101
117
124
125
132
144
150
133
146
148
150
159

40
45
51
60
64
64
68
75
78
80
84
91
95
99
99
103
118
124
127
133
144
148
135
146
148
150
158

41
45
50
62
64
64
68
76
78
82
87
91
95
99
101
107
120
125
128
132
143
148
135
146
148
151
162

163
154

163
159

163
158

163
156

158
156

159
155

156

158

158

156

156

154

41
45
51
62
64
65
69
76
78
82
87
90
95
99
99

no
120

807

Average for period

I

42
46
52
62
64
64
69
76
78
83
87
91
97
99
101
110
118
125
128
135
146
146
135
148
150
154
159

39
43
47
59
63
64
65
73
75
79
82
90
94
97
98
102
114
121
127
129
140
147
137
139
151
150
154

122



49
146
183
294
401
332
660
699
749
859
938

Year
Jan.

Feb.

Mar.

Apr.

May

Monthly
July
June

Quarterly
Aug.

Sept.

Oct.

Nov.

Dec.

Annual
IQ

IIQ

722. United Khfdom-lndex of industrial production
[1967=100]

111 0

IV Q

Averagefarperiod

1947
1948
1949
1950
1951
1952
1953
1954

52
55
60
63
63
63
69

52
55
60
64
63
63
68

54
56
60
65
64
64
69

53
56
61
64
61
64
69

52
57
61
64
61
65
70

52
58
60
65
61
62
70

53
62
61
64
59
64
70

53
58
61
64
59
64
70

54
57
62
64
60
65
71

53
57
63
63
62
68
72

54
59
63
63
63
67
72

56
60
63
63
63
67
72

53
55
60
64
63
63
69

52
57
61
64
61
64
70

53
59
61
64
59
64
70

54
59
63
63
63
67
72

53
58
61
64
62
65
70

1955
1956
1957
1958
1959
1960
1961
1962
1963
1964

73
73
73
74
75
83
84
83
82
92

73
73
75
75
75
83
84
84
84
93

75
73
73
76
74
84
84
84
85
93

74
73
73
73
77
83
84
84
87
95

75
72
75
74
77
84
83

73
73
75
74
77
83
84

73
73
75
73
77
83
85
85
90
95

72
72
75
73
77
84
84
85
89
95

74
73
75
73
80
84
83
87

76
73
74
73
81
84
84
84
91
97

75
73
75
74
82
84
83
84
92
97

76
73
73
75
82
84
84
84
92
98

74
73
74
75
75
83
84
84
84
93

74
73
74
74
77
83
84
85

73
73
75
73
78
84
84

76
73
74
74
82
84
84
84
92
97

74
73
74
74
78
84
84
84

1965
1966
1967
1968
1969
1970
1971
1972
1973
1974

98
100
98
104
108
108
112
108
122
114

98
100
99
105
109
110
109
99
121
114

96
100
99
106
109
112
108
109
122
117

98
100
100
106
110
110
110
112
122
122

100
100
99
107
110
109
112
114
122
123

97
99
100
107
112
110
110
114
124
123

97
100
100
107
112
110
110
113
123
123

98
100
99
107
109
110
110
114
123
123

99
100
100
107
109
110
109
116
123
121

100
99
100
106
108
112
109
117
124
120

99
97
101
107
110
110
109
118
123
120

100
98
104
108
112
112
110
120
122
117

97
100
99
105
109
110
110
105
122
115

98
100
100
107
111
110
HI
113
123
123

100
100
107
110
110
110
114
123
122

100
98
102
107
110
111
109
118
123
119

98
99
100
106
110
110
110
113
123
120

1975
1976
1977
1978
1979
1980
1981
1982

118
113
123
125
122
130
116
118

117
114
123
124
132
128
117
118

115
115
123
123
133
125
117
120

114
116
122
128
132
124
117
120

113
118
125
126
134
124
116
120

113
116
120
128
136
124
118
118

112
116
122
128
134
123
118
118

110
116
123
129
130
120
118
120

113
117
123
128
129
118
118
120

114
120
122
125
130
118
121
120

114
121
122
126
132
117
120
117

113
121
123
129
131
117
118
120

117
114
123
124
129
128
117
119

113
117
122
127
134
124
117
119

112
116
123
128
131
120
118
119

114
121
122
127
131
117
120
119

114
117
123
127
131
122
118
119

1947
1948
1949
1950
1951
1952
1953
1954

3l7~
33.7
35.5
35.9
41.8
41.9
46.4
46.6

31.9
33.7
35.2
36.5
41.8
41.8
46.8
47.2

32.2
33.8
35.5
36.5
42.1
42.5
47.2
46.5

32.2
34.5
35.3
36.7
42.5
42.5
47.2
46.2

32.5
34.3
35.7
37.0
42.5
43.3
47.2
46.0

32.8
34.0
35.5
38.1
42.4
43.3
46.9
46.3

33.4
34.1
35.5
38.9
41.7
43.1
47.2
46.0

33.5
34.6
36.2
38.2
42.3
44.4
46.9
46.9

32.9
34.9
35.8
39.8
41.6
44.7
47.1
46.4

33.2
35.1
35.9
40.3
41.5
45.4
46.6
47.0

33.7
35.2
35.8
40.7
41.3
45.7
45.8
47.1

33.3
35.2
36.4
41.2
41.1
45.9
46.6
48.2

31.9
33.7
35.4
36.3
41.9
42.1
46.8
46.8

32.5
34.3
35.5
37.3
42.5
43.0
47.1
46.2

33.3
34.5
35.8
39.0
41.9
44.1
47.1
46.4

33.4
35.2
36.0
40.7
41.3
45.7
46.3
47.4

32.8
34.4
35.7
38.3
41.9
43.7
46.8
46.7

1955
1956
1957
1958
1959
1960
1961
1962
1963
1964

49.0
54.8
58.3
56.7
60.2
65.9
64.8
69.5
73.0
80.8

49.2
54.8
59.3
57.3
61.4
65.3
64.7
69.8
73.6
82.2

50.1
55.8
59.7
57.2
61.4
65.9
64.3
70.8
74.5
81.5

50.1
57.1
58.7
57.8
62.7
63.8
65.5
71.2
74.5
82.0

51.3
56.5
58.7
58.3
62.4
64.3
65.9
72.0
75.6
82.1

51.8
57.6
58.5
57.8
62.6
63.9
66.8
72.6
76.0
82.6

51.9
58.2
58.5
58.3
62.9
63.0
67.7
73.7
75.5
82.2

53.1
57.8
58.8
58.2
62.9
63.5
67.3
72.6
75.5
82.8

53.2
58.3
57.6
57.9
64.2
64.1
68.4
73.9
78.2
84.7

53.7
58.8
57.0
58.2
65.5
64.3
68.7
73.3
78.4
84.5

54.0
59.1
57.1
59.4
63.9
63.9
69.1
73.2
79.3
85.9

54.7
59.3
57.2
59.7
64.3
63.7
69.4
73.2
80.3
86.7

49.4
55.1
59.1
57.1
61.0
65.7
64.6
70.0
73.7
81.5

51.1
57.1
58.6
58.0
62.6
64.0
66.1
71.9
75.4
82.2

52.7
58.1
58.3
58.1
63.3
63.5
67.8
73.4
76.4
83.2

54.1
59.1
57.1
59.1
64.6
64.0
69.1
73.2
79.3
85.7

51.8
57.3
58.3
58.1
62.9
64.3
66.9
72.2
76.2
83.2

1965
1966
1967
1968
1969
1970
1971
1972
1973
1974

87.7
96.0
99.4
101.6
109.9
114.7
115.3
125.1
137.3
149.5

87.0
96.8
98.2
101.2
111.7
116.1
116.2
123.4
141.2
149.9

88.9
96.8
98.1
102.3
113.8
114.4
116.7
124.9
142.8
150.5

88.5
97.0
99.0
104.3
113.2
113.1
116.9
128.1
141.5
147.8

88.7
97.0
99.0
106.1
112.5
113.8
118.6
127.0
141.9
150.0

89.3
97.2
99.3
106.7
112.1
112.4
119.6
128.6
142.8
148.3

90.9
96.8
100.2
106.9
113.6
113.1
119.8
128.6
145.8
147.8

89.5
95.3
101.8
107.6
112.0
113.6
123.1
128.7
141.8
147.8

91.5
97.5
101.3
108.3
112.7
112.7
123.7
131.7
143.3
146.0

93.1
98.6
100.4
109.1
112.0
112.9
124.2
134.1
145.2
146.2

94.0
98.1
101.8
109.9
113.3
114.2
123.2
135.6
147.2
144.0

95.7
98.4
102.2
109.0
115.1
114.4
124.5
136.3
147.0
143.8

87.9
96.5
98.6
101.7
111.8
115.1
116.1
124.5
140.4
150.0

88.8
97.1
99.1
105.7
112.6
113.1
118.4
127.9
142.1
148.7

90.6
96.5
101.1
107.6
112.8
113.1
122.2
129.7
143.6
147.2

94.3
98.4
101.5
109.3
113.5
113.8
124.0
135.3
146.5
144.7

90.4
97.1
100.1
106.1
112.7
113.8
120.2
129.3
143.2
147.6

1975
1976
1977
1978
1979
1980
1981
1982

138.8
141.9
151.3
151.2
164.4
166.2
163.8
156.2

139.4
142.9
149.3
152.6
165.1
163.8
166.0
154.7

137.5
145.4
150.0
151.9
164.3
166.3
168.0
152.5

138.8
146.9
148.6
155.3
163.3
163.0
169.7
150.5

136.1
149.2
150.4
153.4
166.8
159.0
170.2
151.8

137.7
147.4
151.9
156.0
165.6
158.9
172.7
148.0

139.7
147.4
150.8
154.6
167.5
159.7
170.4
143.3

138.6
148.7
151.1
154.8
167.3
159.4
164.5
149.5

138.9
148.9
150.4
159.0
167.2
163.0
163.8
144.5

137.4
145.3
150.7
159.0
166.6
163.5
161.3
140.0

140.5
148.8
151.3
160.9
165.7
164.9
158.4
141.0

143.0
149.5
151.9
164.7
163.8
165.6
157.2
138.9

138.6
143.4
150.2
151.9
164.6
165.4
165.9
154.5

137.5
147.8
150.3
154.9
165.2
160.3
170.9
150.1

139.1
148.3
150.8
156.1
167.3
160.7
166.2
145.8

140.3
147.9
151.3
161.5
165.4
164.7
159.0
140.0

138.9
146.9
150.6
156.1
165.6
162.8
165.5
147.6

723. Canada-index of industrial
[1967=100]

Average for period

725. West Germany—index of industrial production
[1967=100]

Average for period

1947
1948
1949
1950
1951
1952
1953
1954

13
22
26
34
37
38
43

14
23
26
35
36
39
44

14
23
27
35
37
40
44

14
23
28
36
37
41
45

15
23
29
36
36
40
46

14
24
29
35
37
41
46

16
24
30
36
37
42
47

17
25
31
35
38
42
47

18
25
32
35
38
43
48

19
25
33
36
39
43
48

19
25
33
36
40
43
48

20
26
34
36
39
44
50

14
23
26
35
37
39
44

14
23
29
36
37
41
46

17
25
31
35
38
42
47

19
25
33
36
39
43
49

16
24
30
35
38
41
46

1955
1956
1957
1958
1959
1960
1961
1962
1963
1964

52
59
62
65
66
74
83
87
87
94

52
58
63
65
66
74
83
86
86
97

54
58
62
66
68
76
84

52
59
63
63
68
77
84
86
90
97

54
61
63
65
70
76
81
87
90
94

55
59
63
66
69
77
81
87
90
98

57
61
63
65
69
80
84
87
91
99

57
62
63
68
72
77
83
90
92
98

58
61
65
65
72
79
84
90
91
99

58
61
65
65
74
81
83
88
92
101

58
62
65
66
73

53
58
62
65
67
75
83
86
87
96

54
60
63
65
69
77
82
87
90
96

57
61
64
66
71
79
84
89
91
99

58
61
65
66
73
81
84
89
92
101

56
60
64
65
70
78
83

90
92
101

59
61
65
66
73
81
86
88
91
102

1965
1966
1967
1968
1969
1970
1971
1972
1973
1974

103
105
99
102
120
130
138
135
146
148

103
105
98
103
121
132
135
135
149
148

102
108
98
105
123
132
135
139
146
146

103
105
99
106
123
134
135
139
148
148

102
105
97
108
124
134
134
139
149
149

102
106
99
109
126
132
135
139
148
146

102
105
102
109
126
134
135
138
142
148

103
103
101
114
128
132
132
139
150
143

105
103
102
113
127
132
135
139
149
143

103
103
103
114
130
134
135
141
148
142

103
102
105
119
131
132
132
143
149
142

105
102
110
119
130
134
130
145
149
135

103
106
98
103
121
131
136
136
147
147

102
105
98
108
124
133
135
139
148
148

103
104
102
112
127
133
134
139
147
145

104
102
106
117
130
133
132
143
149
140

103
104
101
110
126
133
134
139
148
145

1975
1976
1977
1978
1979
1980
1981
1982

135
142
150
154
154
164
156
160

135
146
150
149
154
167
164
161

135
143
152
148
157
164
160
161

135
146
149
150
157
164
160
160

134
146
149
149
161
161
160
157

134
148
150
152
163
160
156
154

132
146
148
153
164
161
157
150

135
148
150
154
163
157
157
153

135
149
152
156
161
157
160
152

138
148
149
154
163
160
160
150

139
149
150
156
164
157
157
150

141
149
153
156
164
156
156
149

135
144
151
150
155
165
160
161

134
147
149
150
160
162
159
157

134
148
150
154
163
158
158
152

139
149
151
155
164
158
158
150

136
147
150
153
160
161
159
155

See footnotes at end of this part.




123

Year

Monthly
Jan.

Feb.

Mar.

Apr.

May

June

Quarterly

July

Aug.

Sept.

Oct.

Nov.

Dec.

726. France—index of industrial production
[1967=100]

_UL

HO

Annual

HIQ

!!L!L

Average for period

1947
1948
1949
1950
1951
1952
1953
1954

40
44
40
46

42
44
40
45

40
44
42
46

42
43
42
47

42
40
44
48

42
42
44
48

44
42
43
48

43
43
40
47

44
42
44
49

44
43
44
48

43
43
45
49

43
40
47
49

41
44
41
46

42
42
43
48

44
42
42
48

43
42
45
49

42
42
43
48

1955
1956
1957
1958
1959
1960
1961
1962
1963
1964

49
55
61
66
63
70
74
80
83
91

49
54
62
68
63
70
76
80
81
91

50
57
62
66
65
70
76
80
73
91

50
57
62
66
66
72
76
80
83
92

50
58
62
66
66
72
76
81
87
91

51
58
62
66
66
72
76
80
87
91

51
58
63
66
66
73
77
81

52
59
63
66
66
73
77
81

51
59
65
65
68
74
77
83
88
91

52
61
63
65
69
74
77
83
88
91

54
61
65
65
69
74
77
83

53
61
66
63
69
74
80
83
90
90

49
55
62
67
64
70
75
80
79
91

50
58
62
66
66
72
76
80
86
91

51
59
64
66
67
73
77
82

53
61
65
64
69
74
78
83

51
58
63
66
66
72
77
81
85
91

1965
1966
1967
1968
1969
1970
1971
1972
1973
1974

90
94
99
103
113
120
124
134
143
153

90
97
98
103
112
121
126
132
145
153

90
97
99
106
112
121
127
134
146
150

91
95
98
105
116
123
127
135
143
153

72
119
121
124
137
150
156

92
99
101
91
117
121
127
135
148
153

92
99
99
110
117
121
127
138
150
157

92
99
99
110
117
121
127
138
150
157

94
99
102
106
116
123
131
139
148
149

101
112
120
124
131
141
150
149

95
99
102
114
117
123
132
142
150
143

95
99
103
113
117
124
132
145
146
142

90
96
99
104
112
121
126
133
145
152

91
97
99
89
117
122
126
136
147
154

93
99
100
109
117
122
128
138
149
154

95
99
102
113
118
124
132
143
149
145

92
98
100
104
116
122
128
138
147
151

1975
1976
1977
1978
1979
1980
1981
1982

139
145
157
153
159
166
156
157

139
146
156
153
160
167
159
156

137
148
157
156
163
166
157
156

138
149
153
160
160
167
156
157

134
149
152
157
164
160
159
157

137
149
157
153
164
160
160
157

135
152
153
156
170
166
157
154

135
152
153
156
170
166
157
154

137
157
154
157
167
156
160
154

139
152
150
159
164
159
160
156

138
156
154
160
164
157
159
156

145
154
150
161
166
163
160
154

138
146
157
154
161
166
157
156

136
149
154
157
163
162
158
157

136
154
153
156
169
163
158
154

141
154
151
160
165
160
160
155

138
151
154
157
164
163
158
156

727. Italy- index of industrial production
[1967=100]

Average for period

1947
1948
1949
1950
1951
1952
1953
1954

19.6
23.2
24.2
28.7
29.3
31.3
34.7

20.6
23.2
24.7
29.3
29.3
31.3
34.9

20.8
22.1
25.1
30.0
29.3
31.9
34.9

20.8
22.4
25.8
30.0
29.7
31.9
35.3

22.4
24.2
25.8
30.0
30.4
30.9
34.9

21.3
25.1
26.4
29.7
30.0
31.9
34.3

21.3
24.2
25.8
30.0
30.0
32.7
35.6

24.2
24.7
27.1
29.7
30.6
33.0
35.8

23.6
24.2
27.1
29.7
30.9
32.7
36.5

23.2
24.2
27.3
28.7
30.9
33.6
36.5

23.8
24.2
28.0
28.4
31.3
34.9
36.5

23.2
23.8
29.0
29.0
30.9
34.9
36.9

20.3
22.8
24.7
29.3
29.3
31.5
34.8

21.5
23.9
26.0
29.9
30.0
31.6
34.8

23.0
24.4
26.7
29.8
30.5
32.8
36.0

23.4
24.1
28.1
28.7
31.0
34.5
36.6

22.1
23.8
26.4
29.4
30.2
32.6
35.6

1955
1956
1957
1958
1959
1960
1961
1962
1963
1964

37.3
40.0
43.7
46.2
48.1
55.8
61.9
71.2
75.9
82.6

37.7
38.7
44.5
45.3
49.7
57.4
63.3
71.4
74.1
79.9

38.2
40.4
44.5
45.2
49.9
58.2
63.2
70.8
76.1
81.6

37.9
41.5
45.2
45.1
50.0
58.4
63.8
71.3
78.0
80.6

38.3
42.0
44.7
45.2
50.0
59.1
64.6
72.2
77.9
79.7

39.3
42.0
45.2
46.3
49.7
60.4
65.6
70.3
79.3
78.3

39.3
42.6
45.6
46.7
50.1
60.3
66.6
72.8
78.7
79.8

39.1
42.1
45.8
46.6
51.9
60.5
66.8
73.0
79.8
74.9

39.3
43.1
46.3
47.3
53.0
61.3
67.4
71.7
81.3
79.1

39.3
43.3
44.5
47.6
54.1
60.5
68.7
72.7
81.5
79.1

39.7
42.6
45.1
48.0
55.3
60.8
69.5
74.2
81.1
79.4

39.6
43.5
45.6
48.0
56.0
60.9
70.1
75.9
80.5
79.7

37.7
39.7
44.2
45.6
49.2
57.1
62.8
71.1
75.4
81.4

38.5
41.8
45.0
45.5
49.9
59.3
64.7
71.3
78.4
79.5

39.2
42.6
45.9
46.9
51.7
60.7
66.9
72.5
79.9
77.9

39.5
43.1
45.1
47.9
55.1
60.7
69.4
74.3
81.0
79.4

38.8
41.8
45.1
46.5
51.5
59.5
66.0
72.3
78.7
79.6

1965
1966
1967
1968
1969
1970
1971
1972
1973
1974

79.4
88.8
97.8
102.4
112.8
116.9
115.9
121.3
122.7
145.7

80.3
88.5
99.4
102.5
109.5
118.3
116.1
119.5
121.7
140.6

79.3
90.7
97.8
102.5
112.8
117.8
117.4
119.7
122.7
142.8

80.5
88.8
99.7
104.3
113.5
116.8
114.0
118.3
130.8
146.6

83.2
92.1
100.5
105.7
111.4
115.0
114.6
120.4
132.5
142.6

84.0
92.5
100.0
105.5
114.5
115.1
114.3
119.9
135.2
144.4

84.6
93.4
100.1
106.3
115.0
118.3
113.8
117.5
138.8
142.1

83.5
95.8
100.5
106.0
113.2
115.2
117.5
123.6
139.2
139.8

84.6
96.1
100.0
109.1
107.0
118.8
118.1
117.3
137.3
142.3

85.0
94.9
101.1
109.9
102.2
116.0
116.2
128.3
141.5
135.5

87.2
95.4
101.8
106.0
99.9
117.5
119.7
127.3
141.1
128.2

86.8
97.5
101.6
110.7
104.2
117.9
124.0
129.9
141.8
126.3

79.7
89.3
98.3
102.5
111.7
117.7
116.5
120.2
122.4
143.0

82.6
91.1
100.1
105.2
113.1
115.6
114.3
119.5
132.8
144.5

84.2
95.1
100.2
107.1
111.7
117.4
116.5
119.5
138.4
141.4

86.3
95.9
101.5
108.9
102.1
117.1
120.0
128.5
141.5
130.0

83.2
92.9
100.0
105.9
109.7
117.0
116.8
121.9
133.8
139.7

1975
1976
1977
1978
1979
1980
1981
1982

128.3
130.7
151.3
143.8
152.8
168.9
158.6
161.9

130.2
137.2
149.7
146.1
160.0
176.1
170.3
169.8

124.9
138.2
151.0
145.9
156.0
174.6
169.3
165.7

126.8
139.1
142.5
143.5
156.7
176.1
168.4
164.7

118.8
143.8
147.1
143.8
151.9
162.3
158.0
162.7

125.1
141.4
139.8
145.3
145.1
167.4
159.8
154.9

127.5
143.7
141.1
144.4
150.4
165.2
165.2
159.6

126.3
141.1
142.8
143.7
150.1
141.5
137.2
146.4

126.1
146.7
144.5
146.2
159.4
160.8
164.1
154.1

129.2
145.1
140.9
154.3
166.8
163.2
158.4
149.7

130.6
150.4
142.0
154.7
167.3
169.5
168.1
155.5

129.1
155.1
137.9
151.9
164.7
159.4
160.4
151.8

127.8
135.4
150.7
145.3
156.3
173.2
166.1
165.8

123.6
141.4
143.1
144.2
151.2
168.6
162.1
160.8

126.6
143.8
142.8
144.8
153.3
155.8
155.5
153.4

129.6
150.2
140.3
153.6
166.3
164.0
162.3
152.3

126.9
142.7
144.2
147.0
156.8
165.4
161.5
158.1

6.5
8.0
10.3
13.5
14.7
17.5
17.6

6.8
7.9
10.8
13.5
15.5
17.6
18.1

6.8
8.0
11.4
13.1
14.7
18.1
18.2

6.8
8.2
11.8
13.8
14.3
18.2
18.4

7.1
8.6
11.8
14.0
14.3
18.5
18.7

5.3
7.4
8.4
12.1
13.8
15.3
18.6

5.9
7.7
9.3
13.3
13.9
16.6
18.4

6.6
7.9
10.3
13.6
14.9
17.4
17.9

6.9
8.3
11.7
13.6
14.4
18.3
18.4

6.2
7.8
9.9
13.2
14.3
16.9
18.3

728. Japan—index of industrial
[1967=100]
1947
1948
1949
1950
1951
1952
1953
1954

5.0
7.1
8.3
12.1
14.1
14.6
18.5

1955
1956
1957
1958
1959
1960
1961
1962
1963
1964

Average for period

5.3
7.4
8.5
11.7
14.0
15.0
18.2

5.5
7.7
8.3
12.6
13.4
16.2
19.0

5.6
7.7
9.0
13.1
13.8
16.4
18.7

5.9
7.4
9.3
13.4
14.0
16.5
18.2

6.1
7.9
9.6
13.5
14.0
16.8
18.2

6.4
7.9
9.9
13.7
14.6
17.0
18.1

19.2
23.0
27.4
28.8
30.6
39.0
47.4
55.9
55.9
67.8

19.5
23.3
28.1
28.8
31.6
40.8
47.9
55.5
57.4
69.3

19.7
22.8
28.1
28.8
32.1
41.3
49.4
55.4
58.2
68.9

19.7
23.6
29.1
28.6
32.4
41.8
49.1
55.9
59.8
69.4

19.7
24.3
30.6
27.9
33.6
42.0
50.4
56.4
60.5
70.4

19.7
25.0
30.4
27.8
34.4
42.5
51.1
55.5
60.2
71.6

20.3
25.5
30.6
28.6
34.9
43.0
51.9
54.7
62.3
71.9

20.8
26.0
29.6
28.8
35.4
43.6
52.7
55.9
63.6
71.9

21.2
26.4
29.6
28.9
36.2
44.5
52.6
55.0
63.8
73.9

21.3
27.1
29.3
29.6
37.0
45.0
53.7
54.7
65.6
73.9

21.7
27.4
29.3
29.4
37.7
46.0
54.4
55.0
66.6
73.1

22.1
27.6
28.9
30.2
39.0
46.4
54.9
54.7
67.1
74.9

19.5
23.0
27.9
28.8
31.4
40.4
48.2
55.6
57.2
68.7

19.7
24.3
30.0
28.1
33.5
42.1
50.2
55.9
60.2
70.5

20.8
26.0
29.9
28.8
35.5
43.7
52.4
55.2
63.2
72.6

21.7
27.4
29.2
29.7
37.9
45.8
54.3
54.8
66.4
74.0

20.4
25.2
29.2
28.8
34.6
43.0
51.3
55.4
61.8
71.4

1965
1966
1967
1968
1969
1970
1971
1972
1973
1974

74.0
76.9
92.9
108.3
123.8
145.6
155.7
158.0
184.8
198.3

73.4
77.0
91.9
110.1
125.8
146.9
154.9
159.8
186.4
198.2

74.4
79.3
94.9
110.6
126.0
148.4
156.4
162.6
189.6
193.7

73.4
80.5
95.2
111.2
129.6
149.8
155.5
161.7
188.8
190.1

72.6
81.7
97.2
114.7
132.4
151.4
151.7
164.3
190.9
190.2

73.9
82.8
99.0
113.1
131.6
153.9
155.0
165.0
192.6
185.5

73.9
84.3
100.0
114.2
133.2
153.9
155.5
164.8
190.7
183.6

73.9
85.8
101.8
117.4
134.5
153.2
156.4
169.3
195.7
181.3

74.4
86.9
104.6
116.7
137.2
154.0
157.9
170.9
193.1
179.3

74.5
88.3
105.3
119.7
141.0
154.2
156.0
172.7
196.4
175.4

75.7
90.4
107.9
122.8
141.2
152.7
157.9
176.0
198.0
172.6

75.7
92.2
108.8
122.3
144.0
156.0
157.2
180.2
197.7
169.8

73.9
77.7
93.2
109.7
125.2
147.0
155.7
160.1
186.9
196.7

73.3
81.7
97.1
113.0
131.2
151.7
154.1
163.7
190.8
188.6

74.1
85.7
102.1
116.1
135.0
153.7
156.6
168.3
193.2
181.4

75.3
90.3
107.3
121.6
142.1
154.3
157.0
176.3
197.4
172.6

74.2
83.8
100.0
115.1
133.4
151.7
155.8
167.1
192.1
184.8

1975
1976
1977
1978
1979
1980
1981
1982

163.3
172.6
191.4
196.7
209.4
226.3
226.9
232.6

161.8
176.9
188.8
195.7
208.9
234.5
225.8
231.2

159.7
179.3
191.4
199.0
211.4
228.1
226.3
233.2

163.5
181.8
190.4
199.7
211.9
231.9
226.6
230.2

163.3
181.0
189.8
199.8
216.2
230.6
223.3
228.1

165.1
184.5
191.1
201.0
217.4
227.6
228.3
231.2

166.9
186.0
187.9
203.3
218.2
226.9
230.7
229.9

166.6
186.4
191.6
205.3
221.8
220.0
229.6
230.9

168.6
186.3
191.2
206.4
218.2
224.1
233.1
231.7

168.8
186.0
190.1
206.9
222.6
226.0
234.5
225.5

166.0
188.9
193.4
207.8
225.1
222.8
234.5
230.6

169.6
190.1
194.9
209.9
224.5
226.3
233.9
228.4

161.6
176.3
190.5
197.1
209.9
229.6
226.3
232.3

164.0
182.4
190.4
200.2
215.2
230.0
226.1
229.8

167.4
186.2
190.2
205.0
219.4
223.7
231.1
230.8

168.1
188.3
192.8
208.2
224.1
225.0
234.3
228.2

165.3
183.3
191.0
202.6
217.1
227.1
229.5
230.3

124



Quarterly

Monthly
Year

Jan.

Feb.

Mar.

Apr.

May

June

July

Aug.

Sept.

Oct.

Nov.

Dec.

732. United Kingdom—index of consumer prices ®
[1967 = 100]

UL

IIQ

III Q

IV Q

Annual

Average for period

1947
1948
1949
1950
1951
1952
1953
1954

48.4
50.8
52.8
54.5
61.6
64.7
65.3

49.5
50.8
52.8
55.0
62.0
64.7
65.3

49.5
50.8
52.8
55.5
62.0
65.3
65.7

50.4
50.8
53.1
56.4
63.0
65.7
66.2

50.4
51.7
53.1
57.8
63.0
65.3
65.7

51.4
51.7
53.1
58.3
64.4
65.7
66.2

50.4
51.7
53.1
58.8
64.4
65.7
67.7

50.4
51.7
52.8
59.2
63.9
65.3
67.1

50.4
52.1
53.1
59.7
63.3
65.3
66.6

50.4
52.4
53.6
60.2
64.4
65.3
67.1

50.8
52.2
54.1
60.2
64.4
65.3
67.7

50.8
52.8
54.2
60.6
64.4
65.3
67.7

49.1
50.8
52.8
55.0
61.9
64.9
65.4

50.7
51.4
53.1
57.5
63.5
65.6
66.0

50.4
51.8
53.0
59.2
63.9
65.4
67.1

50.7
52.5
54.0
60.3
64.4
65.3
67.5

50.2
51.6
53.2
58.0
63.4
65.3
66.5

1955
1956
1957
1958
1959
I960..:
1961
1962
1963
1964

68.0
71.3
74.5
77.1
78.7
78.4
80.1
83.8
86.1
87.8

68.0
71.3
74.4
76.7
78.7
78.4
80.1
83.9
86.8
87.9

68.0
72.3
74.3
77.3
78.7
78.3
80.4
84.3
87.0
88.1

68.5
73.7
74.5
78.1
78.1
78.7
80.8
85.4
87.2
89.0

68.5
73.2
74.6
77.9
77.9
78.7
81.1
85.7
87.1
89.7

69.9
73.2
75.4
78.6
77.9
79.1
81.7
86.3
87.1
90.0

69.9
72.7
76.0
77.3
77.8
79.3
81.7
85.9
86.6
90.0

69.4
73.2
75.9
77.3
77.9
78.7
82.6
85.2
86.4
90.0

69.9
73.2
75.7
77.3
77.6
78.7
82.4
85.1
86.6
90.4

70.9
73.7
76.4
78.0
77.9
79.4
82.6
85.0
87.0
90.5

71.8
73.7
76.9
78.3
78.5
79.8
83.4
85.3
87.2
91.2

71.8
74.1
77.2
78.6
78.6
80.0
83.5
85.8
87.3
91.3

68.0
71.6
74.4
77.0
78.7
78.4
80.2
84.0
86.6
87.9

69.0
73.4
74.8
78.2
78.0
78.8
81.2
85.8
87.1
89.6

69.7
73.0
75.9
77.3
77.8
78.9
82.2
85.4
86.5
90.1

71.5
73.8
76.8
78.3
78.3
79.7
83.2
85.4
87.2
91.0

69.6
73.0
75.5
77.7
78.2
79.0
81.7
85.1
86.9
89.7

1965
1966
1967
1968
1969
1970
1971
1972
1973
1974

91.8
95.8
99.3
101.9
108.2
113.5
123.3
133.3
143.6
160.6

91.8
95.9
99.4
102.5
108.8
114.1
123.9
134.0
144.5
163.4

92.1
96.0
99.4
102.7
109.2
114.8
124.9
134.3
145.4
164.8

93.9
97.2
100.1
104.6
110.3
116.6
127.6
135.6
148.1
170.4

94.2
97.9
100.1
104.7
110.3
116.9
128.4
136.3
149.2
172.9

94.5
98.1
100.5
105.1
110.7
117.3
129.4
137.3
149.9
174.6

94.5
97.8
99.9
105.2
109.9
118.1
130.1
137.6
150.6
176.2

94.6
98.4
99.9
105.4
110.5
118.0
130.2
138.7
151.0
176.4

94.7
98.1
99.6
105.4
110.9
118.6
130.3
139.5
152.4
178.3

94.8
98.4
99.6
106.0
111.6
119.9
131.1
141.4
155.3
181.8

95.2
98.9
100.9
106.2
111.9
120.7
131.8
142.0
156.5
185.1

95.7
99.2
101.4
107.6
112.7
121.5
132.5
142.7
157.7
187.8

91.9
95.9
99.4
102.4
108.7
114.1
124.0
133.9
144.5
162.9

94.2
97.7
100.2
104.8
110.4
116.9
128.5
136.4
149.1
172.6

94.6
98.1
99.8
105.3
110.4
118.2
130.2
138.6
151.3
177.0

95.2
98.8
100.6
106.6
112.1
120.7
131.8
142.0
156.5
184.9

94.0
97.6
100.0
104.8
110.4
117.5
128.6
137.7
150.4
174.4

1975
1976
1977
1978
1979
1980
1981
1982

192.6
237.6
276.9
304.4
332.9
394.1
445.5
499.0

195.8
240.6
279.7
306.2
335.6
399.7
449.5
499.1

207.4
199.7
216.1
220.2
222.5
223.8
246.6
241.9
249.3
250.6
251.1
254.6
289.6
282.4
291.9
294.9
295.3
296.7
312.6
308.1
314.4
316.8
318.2
320.3
344.1
338.3
346.8
352.8
368.0
370.9
419.0
405.1
422.8
426.8
430.4
431.3
469.4
456.2
472.4
475.2
477.3
480.8
513.6
503.5
517.3
518.9
518.9
519.0
732c. United Kingdom- -change in index of consumer prices over 6-month spans4

225.7
258.0
298.3
321.6
374.6
434.1
483.5
518.7

228.9
262.7
299.6
323.1
378.5
436.8
487.9
521.3

231.6
266.3
301.0
325.3
381.8
440.3
493.0
523.9

234.5
269.9
302.6
328.0
384.6
442.7
496.1
522.9

196.0
240.0
279.7
306.2
335.6
399.6
450.4
500.5

214.6
248.8
292.1
314.6
347.9
422.9
472.3
516.6

224.0
254.6
296.8
320.0
371.2
431.9
480.5
518.9

231.7
266.3
301.1
325.5
381.6
439.9
492.3
522.7

216.6
252.4
292.4
316.6
359.1
423.6
473.9
514.7

[Annual rate, percent]

Average for period

1947
1948
1949
1950
1951
1952
1953
1954

1.2
2.3
10.3
8.8
3.4
2.2

2.8
3.1
13.8
9.5
3.1
1.5

2.4
0
14.5
11.5
2.8
1.8

7.6
2.8
0
15.2
7.9
1.5
5.9

4.5
4.0
0
15.4
5.9
1.2
5.3

3.2
4.8
.8
15.3
4.2
0
3.4

0.4
6.8
2.3
14.3
5.2
-.6
3.4

2.4
2.7
4.2
8.9
4.5
-.3
5.5

-1.6
5.5
5.4
9.5
1.3
0
5.2

2.4
5.1
6.5
10.9
2.2
.3
2.4

0.8
4.3
8.9
10.0
2.8
.6
3.0

2.0
3.1
9.6
8.2
6.4
.9
3.6

2.1
1.8
12.9
9.9
3.1
1.8

5.1
3.9
.3
15.3
6.0
.9
4.9

0.4
5.0
4.0
10.9
3.7
-.3
4.7

1.7
4.2
8.3
9.7
3.8
.6
3.0

3.8
3.6
12.2
5.8
1.1
3.6

1955
1956
1957
1958
1959
1960
1961
1962
1963
1964

3.6
7.5
1.6
4.0
-.5
1.3
2.3
5.4
3.5
2.8

3.0
4.5
3.0
3.2
-.5
.5
3.0
4.9
3.1
4.4

6.0
3.7
3.8
3.9
-1.5
1.0
3.5
5.6
1.6
4.6

4.2
3.1
3.2
.3
-2.5
2.1
3.5
4.6
.7
4.6

3.8
5.4
4.1
2.1
-1.5
1.3
6.8
3.6
-.7
4.8

6.6
3.3
4.9
1.0
-1.8
1.8
5.8
2.4
-.7
5.5

7.8
.5
5.7
.5
.3
2.8
6.1
.5
1.4
5.3

9.2
.8
5.4
.5
1.3
2.8
6.3
-.2
1.6
4.8

5.8
2.5
4.3
-.3
1.8
2.8
5.5
.2
1.9
4.8

5.2
5.9
3.5
3.9
1.8
2.5
5.7
.9
3.5
4.5

5.8
3.3
1.8
3.1
.8
3.1
2.7
3.3
3.5
4.0

6.1
2.2
3.2
2.6
.8
3.6
3.9
4.3
3.2
3.8

4.2
5.2
2.8
3.7
-.8
.9
2.9
5.3
2.7
3.9

4.9
3.9
4.1
1.1
1.9
1.7
5.4
3.5
-.2
5.0

7.6
1.3
5.1
.2
1.1
2.8
6.0
.2
1.6
5.0

5.7
3.8
2.8
3.2
1.1
3.1
4.1
2.8
3.4
4.1

5.6
3.6
3.7
2.1
-.1
2.1
4.6
3.0
1.9
4.5

1965
1966
1967
1968
1969
1970
1971
1972
1973
1974

5.6
3.2
1.4
8.0
5.9
6.7
10.8
4.8
7.5
18.1

5.1
4.0
.8
5.8
6.1
7.1
11.0
4.7
7.7
18.6

5.3
3.6
1.2
6.0
4.3
6.7
11.5
5.0
7.5
18.5

5.5
3.8
.8
6.2
2.6
7.5
10.3
5.2
8.4
18.1

6.2
5.5
1.2
5.9
3.5
7.3
10.7
7.3
9.2
16.1

5.9
4.6
.8
6.1
3.9
7.4
9.5
8.3
10.1
17.3

3.9
4.4
1.0
4.9
4.6
7.9
7.7
11.0
12.1
16.4

3.9
3.7
3.4
4.7
4.8
8.6
7.3
10.9
12.7
18.1

4.1
3.7
3.2
6.4
5.3
9.1
7.0
10.7
13.9
19.9

3.2
3.5
4.5
6.2
7.2
9.9
6.1
10.5
15.5
22.0

2.5
1.8
5.1
6.3
6.2
10.0
5.7
8.5
17.5
23.7

2.5
2.5
5.7
6.5
6.4
10.3
5.9
8.4
17.0
25.4

5.3
3.6
1.1
6.6
5.4
6.8
11.1
4.8
7.6
18.4

5.9
4.6
.9
6.1
3.3
7.4
10.2
6.9
9.2
17.2

4.0
3.9
2.5
5.3
4.9
8.5
7.3
10.9
12.9
18.1

2.7
2.6
5.1
6.3
6.6
10.1
5.9
9.1
16.7
23.7

4.5
3.7
2.4
6.1
5.1
8.2
8.6
7.9
11.6
19.4

1975
1976
1977
1978
1979
1980
1981
1982

27.3
13.7
18.9
6.7
11.2
20.2
13.0
8.4

32.0
12.7
17.1
6.5
11.0
19.8
12.1
7.3

32.4
10.4
16.1
6.6
12.5
19.5
11.6
6.0

30.6
10.0
11.9
7.5
20.3
17.2
12.5
6.0

29.8
11.8
11.8
8.4
20.5
14.4
12.1
6.0

28.0
13.5
10.9
8.1
21.4
13.3
10.7
4.7

24.5
16.3
9.2
9.0
23.4
10.9
10.4
5.3

18.9
17.3
9.1
9.6
24.1
11.3
11.8
5.3

18.0
19.3
8.4
10.2
22.5
11.1
12.5
4.2

16.3
23.5
8.0
11.2
16.8
9.1
11.5
4.0

15.9
20.9
7.4
11.0
18.0
10.6
9.9
5.6

14.2
20.1
7.3
11.6
18.3
12.0
10.0
4.6

30.6
12.3
17.4
6.6
11.6
19.8
12.2
7.2

•29.5
11.8
11.5
8.0
20.7
15.0
11.8
5.6

20.5
17.6
8.9
9.6
23.3
11.1
11.6
4.9

15.5
21.5
7.6
11.3
17.7
10.6
10.5
4.7

24.0
15.8
11.3
8.9
18.3
14.1
11.5
5.6

733. Canada—index of
[1967=100]

1947
1948
1949
1950
1951
1952
1953
1954

62.2
67.0
67.2
72.2
79.2
77.6
77.6

63.0
66.9
67.2
73.3
78.9
77.4
77.6

63.4
66.6
67.6
74.4
78.4
77.0
77.4

63.6
66.6
67.9
74.9
78.3
76.9
77.5

64.3
66.5
67.9
75.3
77.8
76.7
77.4

1955
1956
1957
1958
1959
1960
1961
1962
1963
1964

78.1
78.3
80.7
82.7
84.6
85.5
86.6
87.0
88.5
90.0

78.0
78.1
80.8
83.0
84.3
85.3
86.4
87.1
88.7
90.2

77.8
78.1
80.8
83.4
84.2
85.1
86.5
87.0
88.7
90.2

77.9
78.2
81.1
83.9
84.2
85.5
86.5
87.4
88.8
90.6

1965
1966
1967
1968
1969
1970
1971
1972
1973
1974

91.8
94.7
97.9
102.4
106.2
111.0
112.9
118.4
125.2
136.5

92.0
95.3
98.0
102.4
106.2
111.5
113.4
119.0
125.8
137.9

92.1
95.5
98.2
102.7
106.7
111.7
113.7
119.0
126.2
139.3

1975
1976
1977
1978
1979
1980
1981
1982

153.1
167.7
178.0
194.0
211.2
231.3
259.1
288.7

154.2
168.3
179.7
195.3
213.2
233.3
261.7
292.1

155.0
169.0
181.5
197.5
215.7
235.8
265.2
295.8

See footnotes at end of this part.




Average for period

64.8
66.7
68.3
76.2
77.8
77.0
77.9

65.7
67.1
68.9
76.9
77.9
77.4
77.9

66.1
67.3
69.6
77.4
77.8
77.6
78.5

66.6
67.3
69.9
78.1
77.9
77.9
78.3

67.0
67.5
71.0
78.5
77.8
78.2
78.3

67.0
67.8
71.3
79.1
77.9
77.9
78.3

66.6
67.4
71.5
79.2
77.6
77.6
78.2

62.9
66.8
67.3
73.3
78.8
77.3
77.5

64.2
66.6
68.0
75.5
78.0
76.9
77.6

66.1
67.2
69.5
77.5
77.9
77.6
78.2

66.9
67.6
71.3
78.9
77.8
77.9
78.3

65.0
67.1
69.0
76.3
78.1
77.4
77.9

78.1
78.2
81.1
83.8
84.2
85.4
86.5
87.2
88.8
90.6

77.8
79.0
81.6
83.8
84.5
85.6
86.5
87.5
89.1
90.7

77.8
79.4
81.8
83.6
84.5
85.5
86.5
87.9
89.4
91.3

78.1
79.9
82.2
83.9
84.7
85.7
86.5
88.1
89.9
91.3

78.3
79.8
82.7
84.2
85.3
86.1
86.5
87.9
89.4
91.0

78.4
80.3
82.7
84.5
85.8
86.9
86.6
88.2
89.6
91.0

78.4
80.7
82.7
84.7
86.1
86.9
87.0
8S.4
89.9
91.1

78.4
80.8
82.6
84.6
85.7
86.9
87.1
88.4
90.0
91.7

78.0
78.2
80.8
83.0
84.4
85.3
86.5
87.0
88.6
90.1

77.9
78.5
81.3
83.8
84.3
85.5
86.5
87.4
88.9
90.6

78.1
79.7
82.2
83.9
84.8
85.8
86.5
88.0
89.6
91.2

78.4
80.6
82.7
84.6
85.9
86.9
86.9
88.3
89.8
91.3

78.1
79.2
81.7
83.8
84.8
85.9
86.6
87.7
89.2
90.8

92.4
96.1
99.1
103.4
108.0
112.4
114.5
119.8
127.6
140.3

92.5
96.2
99.3
103.5
108.2
112.2
114.9
119.8
128.5
142.7

93.3
96.4
99.8
103.8
109.1
112.6
115.2
120.0
129.7
144.5

93.6
96.7
100.8
104.3
109.6
113.0
116.2
121.5
130.8
145.5

93.5
97.2
101.2
104.6
109.9
113.0
117.0
122.4
132.6
146.9

93.3
97.3
101.1
104.9
109.7
112.8
116.7
122.8
133.4
147.9

93.4
97.4
100.9
105.2
109.9
112.9
116.9
123.0
133.7
149.2

94.0
97.5
101.2
105.6
110.3
112.9
117.3
123.3
134.7
150.9

94.4
97.8
101.8
106.4
110.8
112.5
118.1
124.2
135.5
152.4

92.0
95.2
98.0
102.5
106.4
111.4
113.3
118.8
125.7
137.9

92.7
96.2
99.4
103.6
108.4
112.4
114.9
119.9
128.6
142.5

93.5
97.1
101.0
104.6
109.7
112.9
116.6
122.2
132.3
146.8

93.9
97.6
101.3
105.7
110.3
112.8
117.4
123.5
134.6
150.8

93.0
96.5
99.9
104.1
108.7
112.4
115.6
121.1
130.3
144.5

155.8
169.7
182.5
197.9
217.2
237.2
267.2
297.5

157.1
171.1
184.0
200.7
219.3
240.0
269.6
301.5

159.4
171.9
185.3
202.4
220.3
242.7
273.8
304.5

161.6
172.6
187.1
205.4
222.1
244.5
276.2
306.1

163.2
173.4
187.9
205.5
222.9
246.8
278.2
307.6

163.6
174.2
188.9
205.2
224.9
249.0
280.2
309.2

165.1
175.4
190.8
207.3
226.5
251.2
283.0
311.2

166.6
176.0
192.0
209.0
228.7
254.3
285.4
313.3

166.8
176.5
193.3
209.6
230.1
255.8
286.7
313.4

154.1
168.3
179.7
195.6
213.4
233.5
262.0
292.2

157.4
170.9
183.9
200.3
218.9
240.0
270.2
301.2

162.8
173.4
188.0
205.4
223.3
246.8
278.2
307.6

166.2
176.0
192.0
208.6
228.4
253.8
285.0
312.6

160.1
172.2
185.9
202.5
221.0
243.5
273.9
303.4

125

Year

Jan.

Feb.

Mar.

May

Apr.

Monthl]
.
June
W

_

Aug.

Sept.

Oct.

Nov.

Dec.

10

Quarterly
IIQ
MQ

733c. Canada--change in index of consumer prices over 6-month spans*
[Annual rate, percent]
1947
1948
1949
1950
1951
1952
1953
1954

0.6
2.7

0.6
2.4

0.9
3.6

0
4.8

13.2

14.3
-1.0

14.8
-2.8

13.1
-3.3

11.2
-3.0

-2.8

-2.5

-2.0

-1.3

-.5

-.8
1.0

-.8
1.8

-.3
1.3

.3
2.1

.8
.8

2.1
.8

.8
.3

1955
1956
1957
1958
1959
1960
1961
1962
1963
1964

.3
.8
3.3
3.9
.2
.2
-.2
2.3
1.4
2.0

1.3
1.3
2.5
4.4
.5
-.2
.2
1.6
1.8
2.0

-.3
2.3
2.7
3.7
.5
.5
-.2
1.6
1.8
1.8

-.5
3.1
3.0
2.4
0
.2
-.2
1.8
1.6
2.0

-.3
4.1
3.2
1.9
.7
.9
0
1.8
2.3
1.8

-.3
2.8
3.7
1.0
1.9
1.9
-.5
1.8
1.4
1.6

0
4.1
2.7
.5
2.9
2.6
-.2
1.6
2.0
1.1

-1.0

1965
1966
1967
1968
1969
1970
1971
1972
1973
1974

2.7
5.2
2.7
4.2
4.6
4.0
2.5
4.8
7.8

3.3
4.5
3.5
4.2
4.6
3.3
3.4
4.1
8.6

3.5
4.3
4.1
3.6
4.7
2.9
4.5
2.9
8.9

3.1
3.2
4.7
2.6
5.3
2.5
4.8
4.3
8.0

2.6
3.2
5.6
3.1
5.9
1.4
5.0
4.4
9.8

2.2
3.4
5.6
3.7
4.9
1.3
4.4
5.6

10.6

12.2

13.4

12.5

11.9

9.6
6.3
9.0
8.0

8.8
5.6
9.2
8.8
9.7
9.9

10.3

10.6

4.9
9.2

9.9

8.4
5.2
9.1
8.8
9.7
9.7

13.1
10.5

12.2
11.4

13.2
11.4

.8
-1.0

1975
1976
1977
1978
1979
1980
1981
1982

10.2

9.0
.9
5.4
8.5

9.0
1.2
7.5
8.4

6.3
1.8
7.8
7.8

5.0
1.2
8.3
6.9

4.6
.6

3.1
0

1.2
2.1

10.1

11.2

15.2

.5
-.3

6.1
-.8
0
.3

4.2
-.8
.3
-.8

4.6
2.2
.5
2.9
2.4
0
1.8
1.8
.9

.8
3.8
1.7
1.2
2.1
2.3
.7
1.6
1.8
2.2

1.0
3.0
2.0
2.2
2.1
2.4
1.2
1.6
2.0
2.0

3.3
2.9
4.3
4.5
4.3
1.4
4.4
5.9
9.7

2.4
2.9
4.3
5.5
3.5
.2
5.5
7.5
9.3

3.2
3.8
4.4
4.9
3.7
.9
4.9
7.4

10.9
11.9

2.8
3.4
4.5
43
4.1
1.4
4.6
5.4
9.6
12.5

11.8

11.7

10.7

11.6

12.5

10.2

5.9
8.1
7.9
8.9

6.2
8.8
9.3
8.3

6.1
9.1
8.9
9.2

6.1
9.7
8.1

9.3

5.2
8.4
9.8
8.7

10.4
12.3
11.1

11.2
12.3
10.2

11.7
11.9

12.2
12.2

12.5
12.2

10.2
12.4
11.0

9.5

9.4

8.2

10.8

0.7
2.9

9.8
.6
5.7

2.3
-.8
•3
.3

14.1
-1.0

10.9
-3.0

-.9
.8

.3
1.4

.5
2.8
2.4
1.2
1.4
1.6
1.6
1.6
1.1
2.2

1.0
3.8
2.7
1.0
.2
1.4
1.6
2.1
2.7

.4
1.5
2.8
4.0
.4
.2
-.1
1.8
1.7
1.9

-.4
3.3
3.3
1.8
.9
1.0
-.2
1.8
1.8
1.8

1.1
.3
_1
4.2
2.2
.7
2.6
2.4
.2
1.7
1.9
1.4

4.8
2.5
3.6
4.3
4.1
2.0
4.9
6.8
9.8

5.2
2.3
3.8
4.0
4.4
2.5
4.9
6.5
9.8

3.2
4.7
3.4
4.0
4.6
3.4
3.5
3.9
8.4

2.6
3.3
5.3
3.1
5.4
1.7
4.7
4.8
9.6

11.7

10.4

12.1

7.6
8.5
8.9
8.5

7.4
8.8
9.3
10.3

13.6
10.6

10.2
13.1
10.9

13.2
11.2

8.9
5.7
9.1
8.5
9.9
9.8

7.2

5.7

4.7

5.0

10.1
11.8

8.7
7.6
8.9
7.0
9.8

2.0

9.7

!

1

12.8
11.1

6.8
1.4
7.9
7.7
-1.9

3.0
.9
12.2

4.2
-.8
.2
-.1

0.9
7.2
9.2
-1.7

.2
.6

.8
3.2
2.4
1.5
1.2
1.8
1.5
1.8
1.7
2.3

.2
3.0
2.7
2.0
1.3
1.4
.3
1.8
1.8
1.9

2.8
3.1
4.4
4.8
4.0
1.0
4.8
6.3
9.5

4.4
2.9
3.9
4.4
4.1
1.8
4.9
6.9
9.9

3.3
3.5
4.3
4.1
4.5
2.0
4.5
5.5
9.4

12.1

12.0

11.3

11.9

10.5

11.4

5.3
8.6
9.5
9.0

6.1
9.2
8.8
9.2

7.9
8.3
9.0
8.6
9.9

9.7
6.4
9.0
8.8
9.5

11.1
12.2
10.3

12.4
11.8

13.3
10.9

11.6
11.9

8.3

5.1

8.7

735. Nest Germany-index of consumer prices ®
[1967=100]
1947
1948
1949
1950
1951
1952
1953
1954

Annual

Average for period

9.4
.9
7.0

10.9

IV Q

Average for perioi

...,
70.5
73.0
68.1
74.6
75.4
74.6
74.6

72.2
72.2
68.1
74.6
75.4
74.6
74.6

73.8
72.2
68.9
74.6
75.4
73.8
74.6

77.0
72.2
68.9
76.2
75.4
73.8
75.4

76.2
73.0
68.9
77.0
75.4
73.8
75.4

77.0
72.2
69.7
77.0
76.2
73.8
75.4

75.4
69.7
71.6
76.7
75.4
74.1

73.8
68.4
74.1
75.7
74.6
74.6

72.2
72.5
68.4
74.6
75.4
74.3
74.6

76.7
72.5
69.2
76.7
75.7
73.8
75.4

73.5
68.9
74.2
75.9
74.5
74.7

76.2
70.5
70.5
77.0
75.4
73.8

75.4
69.7
71.3
77.0
75.4
73.8

74.6
68.9
73.0
76.2
75.4
74.6

73.8
68.9
73.8
76.2
74.6
74.6

73.8
68.1
73.8
75.4
74.6
74.6

67.3
73.8
68.1
74.6
75.4
74.6
74.6

1955
1956
1957
1958
1959
1960
1961
1962
1963
1964

75.4
77.0
78.5
80.6
81.2
82.7
83.9
86.6
89.0
91.6

75.4
77.0
78.5
80.9
81.1
82.4
83.9
86.8
89.9
91.7

75.4
77.8
78.2
80.9
81.2
82.4
84.2
87.2
89.9
91.9

75.4
77.8
78.5
81.2
80.9
82.7
84.2
87.4
90.2
91.9

75.4
77.8
78.9
81.7
81.2
83.3
84.7
87.4
89.9
91.9

75.4
77.8
79.4
82.0
81.7
83.2
85.3
87.5
89.6
91.6

76.2
77.8
80.2
81.5
82.1
83.3
85.4
87.7
89.5
91.9

75.4
77.8
79.7
80.5
82.3
82.9
85.1
86.9
89.3
91.9

75.4
77.8
79.5
80.2
82.0
82.7
85.0
87.1
89.6
91.9

76.2
77.8
79.8
80.5
82.3
83.0
85.1
87.4
90.1
92.2

77.0
78.6
80.2
80.9
82.7
83.5
85.7
87.7
90.5
92.6

77.0
78.6
80.2
81.1
82.7
83.5
85.7
88.3
91.3
93.1

75.4
77.3
78.4
80.8
81.2
82.5
84.0
86.9
89.6
91.7

75.4
77.8
78.9
81.6
81.3
83.1
84.7
87.4
89.9
91.8

75.7
77.8
79.8
80.7
82.1
83.0
85.2
87.2
89.5
91.9

76.7
78.3
80.1
80.8
82.6
83.3
85.5
87.8
90.6
92.6

75.8
77.8
79.3
81.0
81.8
83.0
84.8
87.3
89.9
92.0

1965
1966
1967
1968
1969
1970
1971
1972
1973
1974

93.5
97.3
99.8
101.4
102.9
105.7
110.1
116.1
123.3
132.5

93.5
97.4
99.8
101.5
103.2
106.0
110.8
116.7
124.2
133.7

93.8
97.7
100.0
101.5
103.3
106.5
111.6
117.3
125.1
134.0

94.3
98.5
100.0
101.7
103.5
106.8
112.0
117.6
125.9
134.7

94.6
98.6
100.2
101.7
103.6
106.9
112.3
117.9
126.6
135.6

95.0
98.5
100.2
101.7
103.8
107.2
112.8
118.3
127.4
136.2

95.3
98.5
100.3
101.7
103.6
107.2
113.1
119.1
127.7
136.5

95.2
98.3
99.8
101.4
103.3
107.2
113.1
119.1
127.7
136.7

95.3
98.3
99.8
101.4
103.3
107.2
113.5
120.3
127.8
137.1

95.8
98.6
100.0
101.7
103.6
107.7
114.0
120.9
128.9
137.9

96.4
99.2
100.2
102.1
103.9
108.1
114.3
121.4
130.4
138.8

96.8
99.5
100.2
102.4
104.5
108.7
114.7
122.1
131.6
139.2

93.6
97.5
99.9
101.5
103.1
106.1
110.8
116.7
124.2
133.4

94.6
98.5
100.1
101.7
103.6
107.0
112.4
117.9
126.6
135.5

95.3
98.4
100.0
101.5
103.4
107.2
113.2
119.5
127.7
136.8

96.3
99.1
100.1
102.1
104.0
108.2
114.3
121.5
130.3
138.6

95.0
98.4
100.0
101.7
103.5
107.1
112.7
118.9
127.2
136.1

1975
1976
1977
1978
1979
1980
1981
1982

140.6
148.0
153.7
158.3
162.9
171.0
180.9
192.3

141.4
148.9
154.3
159.1
163.6
172.8
182.3
192.8

142.0
149.2
154.7
159.5
164.4
173.8
183.5
193.1

143.0
150.1
155.3
160.0
165.3
174.9
184.7
194.0

143.9
150.4
155.9
160.3
165.7
175.6
185.4
195.2

145.0
150.7
156.5
160.8
166.6
176.5
186.3
197.1

145.0
150.4
156.2
160.5
167.7
176.8
187.1
197.6

144.8
150.8
156.4
160.3
167.8
177.0
187.7
197.3

145.6
151.0
156.5
160.2
168.3
177.0
188.6
197.9

145.9
151.3
156.7
160.3
168.7
177.3
189.2
198.5

146.3
151.6
157.0
160.8
169.3
178.3
190.1
198.9

146.8
152.2
157.4
161.4
170.1
179.4
190.7
199.4

141.3
148.7
154.2
159.0
163.6
172.5
182.2
192.7

144.0
150.4
155.9
160.4
165.9
175.7
185.5
195.4

145.1
150.7
156.4
160.3
167.9
176.9
187.8
197.6

146.3
151.7
157.0
160.8
169.4
178.3
190.0
198.9

144.2
150.4
155.9
160.1
166.7
175.9
186.4
196.2

27.4
-6.6

14.6
-8.3

7.3

1.1

-8.3

2.7
4.6
1.1

5.6
5.1

8.0
5.1

-9.9
11.0

-1.1
-2.7

-1.3
-2.9

1.3
3.7
1.0
2.3
.7
-.5
1.7
2.8
5.8
4.1
2.2

.5
.5
5.1
0
2.3
1.2
-.7
1.7
3.3
4.4
2.9
2.0

3.4
1.6
2.0
2.2
3.7
5.3
4.6
7.2
8.3
5.8
4.7
3.7
2.8
3.5
5.4
5.4
4.8
2.3

3.2
1.6
1.4
1.8
4.1
6.0
4.8
6.2
8.4
5.9
3.7
3.9
2.8
4.0
5.4
6.3
3.5
.9

4
735c. West 6ermany—chance fa index of consuma prices over 6-month spans
[Annual rate, percent]

1947
1948
1949
1950
1951
1952
1953
1954

Average for period

-5.7
-9.0
17.2
-2.6
-3.1

-6.5
-5.3
13.8
-3.1
-1.3

-6.8
-3.1
11.0
-2.8
-1.1

-5.3

-4.0

-4.0

.9
5.8
-.5

.3
7.2

.6
7.4

-2.6

-4.4
-11.2
16.3
-3.1
-1.3

-2.6

-1.6
-1.6

-1.1
-2.9

-2.9

1.9

2.7

3.0

2.5

3.0

1.6

2.7

1.6

1.3

1955
1956
1957
1958
1959
1960
1961
1962
1963
1964

-.5
3.7
1.3
3.0
.5
.2
1.7
4.0
4.8
2.0

.3
2.1
.8
3.3
.2
1.0
1.9
2.8
3.9
1.8

.5
2.1
1.5
3.8
.7
.7
3.6
3.8
2.5
.4

2.1
1.8
3.6
1.5
1.7
1.2
3.4
2.8
1.6
1.1

.5
2.6
3.9
-.2
3.7
2.0
3.9
1.4
0
1.8

1.6
1.6
4.4
-.5
3.2
2.4
3.9
1.6
1.6
2.2

2.9
.8
3.9

4.0
2.1
3.8

4.0
2.1
2.8

-1.2

-1.5

-1.5

4.0
1.7
3.4
1.4
1.6
2.6

4.2
1.2
3.6
1.8
2.7
2.9

3.2
1.2
1.7
2.3
4.3
3.3

1.9
2.1
2.1
1.8
0
1.7
1.7
2.8
2.8
4.3
3.1

1965
1966
1967
1968
1969
1970
1971
1972
1973
1974

2.6
3.8
1.0
1.6
1.8
4.5
6.4
4.4
6.7
7.7

3.0
3.6
1.0
1.8
1.6
4.5
6.6
4.8
7.2
6.5

4.1
3.3
1.0
2.4
2.0
4.0
6.3
4.7
7.3
5.5

4.6
3.1
1.6
1.0
2.0
3.3
5.9
5.6
7.4
6.5

5.0
3.1
1.4
1.2
1.6
3.8
5.9
5.8
7.2
5.8

5.4
3.1
1.4
1.8
2.0
3.4
5.7
7.1
6.0
6.2

5.2
2.0
1.8
1.8
1.9
3.4
5.4
7.5
6.5
6.4

4.9
2.3
1.2
2.2
1.9
3.6
5.1
7.6
7.6
6.6

4.0
2.2
.6
2.2
2.3
4.2
4.9
8.1
8.2
6.1

3.6
2.0
1.6
2.0
3.5
5.1
5.0
7.0
7.3
6.1

1975
1976
1977
1978
1979
1980
1981
1982

6.0
4.4
3.7
2.4
4.4
5.6
6.6
3.0

5.5
3.8
3.8
2.4
4.3
5.6
6.2
3.5

6.7
3.7
3.8
2.3
4.5
5.5
5.7
4.9

6.4
3.1
3.0
2.4
5.6
6.4
6.3
4.9

5.9
3.4
3.7
2.2
5.8
5.5
6.7
5.4

6.5
3.5
3.4
1.9
6.1
4.9
6.9
6.3

5.5
3.0
3.7
2.1
6.0
4.6
6.9
6.8

5.2
3.5
3.2
2.4
6.4
5.0
7.1
5.9

4.2
3.6
3.2
2.8
6.4
5.4
6.9
4.0

4.2
4.7
3.0
3.4
4.3
5.4
6.3
2.7

-8.2
-9.2
14.4

-.5

126



2.7
-1.6

7.7
-6.5

-6.1
-9.8
16.0
-2.1
-2.3

-6.2
-2.5
10.2
-2.1
-1.7

-4.9

-8.8

1.2
6.4
-.5

8.2
4.3

-.7
9.2

-1.3
-1.7

-1.5
-2.0

2.5
.1
2.6
1.2
3.4
.5
.6
2.4
3.5
3.7
1.4

2.4
1.4
2.0
4.0
.3
2.9
1.9
3.7
1.9
1.1
1.7
5.0
3.1
1.5
1.3
1.9
3.5
5.8
6.2
6.9
6.2
6.3
3.3
3.4
2.2
5.8
5.6
6.6
5.5

1.9
3.6
1.7
3.5

3.2
3.6
1.0
1.9
1.8
4.3
6.4
4.6
7.1
6.6
6.1
4.0
3.8
2.4
4.4
5.6
6.2
U

-2.5

-1.4

3.8
1.4
2.9
1.8
2.9
2.9
4.7
2.2
1.2
2.1
2.0
3.7
5.1
7.7
7.4
6.4
5.0
3.4
3.4
2.4
6.3
5.0
7.0
5.6

1.2
3.6
1.0
2.1
.6
.2
1.7
3.0
4.3
3.8
2.4
3.4
1.7
1.7
2.0
3.8
5.5
4.8
6.8
8.0
5.9
4.2
4.1
2.9
3.6
5.0
5.7
4.9
2.0

2.0
2.2
1.8
2.7
.7
1.8
1.4
3.0
2.9
2.9
2.1
4.1
2.6
1.3
1.8
2.4
4.3
5.6
6.3
7.3
6.3
5.4
3.7
3.3
2.6
5.4
5.5
6.2
4.2

Year

Quarterly

Monthly
Jan.

Feb.

Mar.

Apr.

May

June

July

Aug.

Sept.

Oct.

Nov.

Dec.

1Q

IIQ

736. France—index of consumer prices <§>
[1967=100]

111 Q

IV Q

Annual

Average for period

1947
1948
1949
1950
1951
1952
1953
1954

32.3
43.4
44.1
48.7
59.5
59.5
58.4

34.7
41.6
44.8
49.8
60.7
59.6
58.9

34.2
39.6
44.1
50.4
60.4
59.3
58.5

34.3
39.1
44.8
51.3
59.8
59.0
58.1

34.7
38.8
44.1
52.8
58.9
59.4
58.9

35.1
38.6
42.9
52.7
58.3
59.4
58.7

35.0
38.4
42.9
53.0
58.2
58.7
58.0

38.6
39.2
44.5
53.5
59.1
58.4
57.8

41.5
41.3
46.1
54.2
59.6
57.6
58.2

42.9
42.9
47.3
55.5
59.1
57.6
58.3

42.2
43.4
47.8
57.1
58.9
57.6
58.9

43.3
43.6
48.2
58.3
59.4
58.0
59.1

33.7
41.5
44.3
49.6
60.2
59.5
58.6

34.7
38.8
43.9
52.3
59.0
59.3
58.6

38.4
39.6
44.5
53.6
59.0
58.2
58.0

42.8
43.3
47.8
57.0
59.1
57.7
58.8

37.4
40.8
45.1
53.1
59.3
58.7
58.5

1955
1956
1957
1958
1959
1960
1961
1962
1963
1964

59.3
59.8
60.8
69.3
74.8
78.6
80.3
84.0
87.5
91.6

59.1
60.4
61.0
70.1
75.9
78.7
80.4
84.0
87.9
91.6

59.1
60.4
60.7
71.1
75.6
78.7
80.3
84.3
88.2
91.7

59.1
60.2
60.5
71.7
75.6
78.8
80.2
84.3
88.4
91.8

59.5
60.7
60.4
71.8
75.2
78.7
80.1
84.9
88.6
91.8

59.0
60.1
60.8
72.0
75.4
78.6
79.9
85.2
89.3
92.0

58.4
59.8
61.7
72.4
75.6
78.9
80.6
85.6
89.6
92.3

58.3
60.1
62.4
72.5
76.0
79.6
81.0
85.4
89.9
92.5

58.9
60.5
63.2
72.8
76.3
79.7
81.5
85.7
90.5
92.9

59.6
60.4
64.2
73.0
77.0
79.9
82.3
86.1
90.7
93.1

59.6
60.4
65.7
72.8
77.5
80.1
83.1
86.8
91.0
93.1

59.7
60.4
67.0
73.0
77.5
80.2
83.5
87.4
91.2
93.1

59.2
60.2
60.8
70.2
75.4
78.7
80.3
84.1
87.9
91.6

59.2
60.3
60.6
71.8
75.4
78.7
80.1
84.8
88.8
91.9

58.5
60.1
62.4
72.6
76.0
79.4
81.0
85.6
90.0
92.6

59.6
60.4
65.6
72.9
77.3
80.1
83.0
86.8
91.0
93.1

59.1
60.3
62.4
71.9
76.0
79.2
81.1
85.3
89.4
92.3

1965
1966
1967
1968
1969
1970
1971
1972
1973
1974

93.7
96.1
98.8
102.8
108.3
114.4
120.0
126.8
135.2
149.1

93.7
96.3
98.9
102.8
108.7
114.9
120.6
127.5
135.6
151.1

94.0
96.5
99.2
102.9
109.1
115.3
121.1
128.1
136.3
152.9

94.1
96.8
99.3
103.2
109.7
115.9
121.8
128.6
137.2
155.4

94.4
97.2
99.4
103.5
110.2
116.5
122.6
129.3
138.5
157.2

95.9
97.1
99.4
103.9
110.5
117.1
123.1
130.0
139.6
159.0

95.1
97.4
99.6
104.2
111.0
117.6
123.7
131.0
140.7
161.0

94.8
97.4
100.0
104.7
111.2
117.8
124.1
131.7
141.7
162.3

95.1
97.8
100.4
105.4
111.9
118.3
124.7
132.6
143.0
164.0

95.3
97.9
100.9
106.6
112.5
118.7
125.4
133.7
144.5
166.0

95.4
98.1
101.6
106.9
113.1
119.2
125.9
134.5
145.8
167.5

95.8
98.4
101.8
107.1
113.5
119.4
126.5
135.2
146.7
168.9

93.8
96.3
99.0
102.8
108.7
114.9
120.6
127.5
135.7
151.0

94.8
97.0
99.4
103.5
110.1
116.5
122.5
129.3
138.4
157.2

95.0
97.5
100.0
104.8
111.4
117.9
124.2
131.8
141.8
162.4

95.5
98.1
101.4
106.9
113.0
119.1
125.9
134.5
145.7
167.5

94.8
97.2
99.9
104.5
110.8
117.1
123.3
130.8
140.4
159.5

1975
1976
1977
1978
1979
1980
1981
1982

170.8
187.2
204.1
222.8
245.5
277.2
312.7
356.0

172.1
188.5
205.5
224.4
247.1
280.2
315.6
359.6

173.5
190.1
207.3
226.4
249.4
283.4
318.8
363.8

175.0
191.8
210.0
228.9
251.8
286.7
323.1
368.2

176.3
193.0
212.0
231.1
254.5
289.3
326.0
371.1

177.6
193.9
213.6
232.8
256.6
291.1
329.2
373.7

178.9
195.7
215.5
235.7
260.0
295.5
334.9
374.7

180.1
197.1
216.7
237.1
262.7
298.4
339.0
375.9

181.6
199.3
218.6
238.6
264.9
301.0
342.9
377.5

183.0
201.1
220.3
240.8
268.1
304.3
347.1
379.5

184.0
202.8
221.1
242.1
269.8
306.4
350.3
383.2

185.2
203.5
221.7
243.2
272.0
309.1
352.4
386.4

172.1
188.6
205.6
224.5
247.3
280.3
315.7
359.8

176.3
192.9
211.9
230.9
254.3
289.0
326.1
371.0

180.2
197.4
216.9
237.1
262.5
298.3
338.9
376.0

184.1
202.5
221.0
242.0
270.0
306.6
349.9
383.0

178.2
195.3
213.9
233.7
258.5
293.6
332.7
372.5

39.3
14.7
11.1
14.0
-1.5
-5.7
.8

12.4
18.4
18.5
20.4
-2.7
-2.5
.5

4.9
11.6
20.7
1.8
-1.6
1.5

736c. France—change in index of consumer prices over 6-month spans4
il rate, percent]

1947
1948
1949
1950
1951
1952
1953
1954

-11.2
15.3
22.2
18.2
-.3
7

-9.0
10.1
27.6
8.7
2.1
3.9

1955
1956
1957
1958
1959
1960
1961
1962
1963
1964

1.4
7
-1.3
23.3
6.1
3.7
3
4.9
5.4
2.4

1965
1966
1967
1968
1969
1970
1971
1972
1973
1974

Average for period

-11.0
6.7
29.3
5.6
3.8
4.9

31.9
-12.7
4.2
27.9
2.1
2.4
2.8

35.1
-3.9
6.0
23.3
.3
1.0
1.0

44.3
7.2
7.8
15.6
-1.3
-4.0
1.4

45.9
13.1
6.8
14.5
-2.7
-3.7
2.1

36.9
16.4
11.1
13.2
-1.0
-5.7
1.0

35.0
14.5
15.5
14.2
-.7
-7.8
-.7

37.6
18.3
17.9
16.8
-1.7
-5.6
.7

6.7
21.1
17.0
20.9
-3.6
-3.0
0

-7.1
15.7
20.6
23.4
-2.7
1.0
.7

-10.4
10.7
26.4
10.8
1.9
3.2

37.1
-3.1
6.0
22.3
.4
-.2
1.7

1.0
3.0
-.3
19.8
7.3
3.9
1.0
5.4
5.1
2.4

1.7
2.7
2.7
16.8
7.8
4.2
.2
5.4
5.3
2.4

.3
3.1
6.4
12.3
4.9
3.4
2.8
5.3
5.8
2.4

1.4
3.0
8.8
10.6
2.9
4.7
3.3
4.8
5.5
2.6

1.7
2.7
10.9
7.5
4.0
4.4
4.3
4.1
5.8
2.6

3.1
2.0
14.1
4.8
4.8
3.6
5.6
4.3
5.3
2.9

1.4
-.3
18.7
2.5
5.4
2.6
6.6
3.6
4.8
2.2

.7
-.3
20.2
1.7
4.3
2.8
7.9
4.0
3.4
2.0

1.4
0
22.3
3.6
5.3
1.3
6.8
3.3
3.6
2.4

3.1
-1.0
21.7
6.4
4.8
0
6.0
4.7
3.1
2.0

2.7
-1.6
23.6
5.3
4.5
0
6.0
5.4
2.4
2.4

1.4
2.1
.4
20.0
7.1
3.9
.5
5.2
5.3
2.4

1.1
2.9
8.7
10.1
3.9
4.2
3.5
4.7
5.7
2.5

1.7
.5
17.7
3.0
4.8
3.0
6.7
4.0
4.5
2.4

2.4
-.9
22.5
5.1
4.9
.4
6.3
4.5
3.0
2.3

1.7
1.2
12.3
9.6
5.2
2.9
4.2
4.6
4.6
2.4

2.2
3.2
2.7
4.6
5.9
6.1
5.6
5.5
5.5
15.8

3.3
4.0
2.7
3.8
6.5
6.3
6.0
5.5
6.0
16.1

6.6
3.2
2.2
4.4
6.6
6.3
6.1
5.4
6.3
17.0

3.5
3.4
2.2
3.3
5.6
6.0
6.3
6.7
8.1
16.3

3.0
2.9
2.9
4.3
5.2
5.7
6.1
6.9
9.2
15.4

2.4
2.9
2.8
5.3
5.4
5.3
5.9
6.8
9.9
14.5

2.6
2.3
3.5
6.7
5.2
4.7
5.7
7.8
10.6
14.1

1.9
1.7
4.5
6.5
5.1
4.5
5.3
8.2
10.8
13.8

-.6
2.5
4.7
6.1
5.5
4.1
5.8
8.5
10.7
13.4

1.7
2.3
5.9
7.4
5.7
3.9
5.1
6.7
12.5
12.8

2.5
2.5
5.1
7.2
6.2
4.5
5.4
6.0
13.5
12.7

2.8
2.7
4.6
6.9
6.0
5.0
5.9
6.0
14.5
12.5

4.0
3.5
2.5
4.3
6.3
6.2
5.9
5.5
5.9
16.3

3.0
3.1
2.6
4.3
5.4
5.7
6.1
6.8
9.1
15.4

1.3
2.2
4.2
6.4
5.3
4.4
5.6
8.2
10.7
13.8

2.3
2.5
5.2
7.2
6.0
4.5
5.5
6.2
13.5
12.7

2.7
2.8
3.6
5.5
5.7
5.2
5.8
6.7
9.8
14.5

1975
1976
1977
1978
1979
1980
1981
1982

11.3
10.3
9.5
8.4
9.8
14.8
13.2
13.0

10.5
9.8
9.1
9.1
10.2
14.5
13.0
12.0

10.2
9.1
9.7
9.9
10.9
14.1
13.0
12.0

9.5
9.1
10.9
11.2
11.5
12.7
13.8
9.9

8.9
9.5
9.7
10.2
12.9
12.2
14.9
5.8

9.2
10.6
9.0
9.9
12.9
12.6
15.7
6.9

9.2
10.6
8.1
9.8
12.8
13.2
15.1
7.3

9.7
9.2
7.5
9.1
14.4
12.9
13.9
9.5

10.0
9.1
8.1
9.5
14.7
12.7
13.6
10.3

10.3
8.8
7.9
9.9
15.2
12.6
13.0
10.8

10.7
9.7
9.4
9.1
10.3
14.5
13.1
12.3

9.3
9.1
10.7
10.7
11.9
12.4
14.5
8.4

9.1
10.2
8.9
10.0
12.9
12.7
15.2
6.7

10.0
9.0
7.8
9.5
14.8
12.7
13.5
10.2

9.8
9.5
9.2
9.8
12.5
13.1
14.1
9.4

1947
1948
1949
1950
1951
1952
1953
1954

54.9
56.4
53.7
57.6
60.9
63.6
64.3

54.4
56.4
53.7
58.7
62.0
63.6
64.7

55.8
56.4
53.1
58.7
62.0
63.6
64.7

56.0
57.2
53.8
60.4
62.7
64.3
64.7

55.2
57.2
53.9
60.4
62.7
64.7
65.9

54.8
56.6
54.6
60.9
63.1
64.7
66.4

52.1
55.0
54.6
60.9
63.1
63.6
66.4

54.4
55.7
55.6
60.9
63.1
63.6
66.4

55.7
55.5
56.8
60.9
63.6
63.6
66.4

54.8
54.1
5S.1
60.9
63.6
64.3
66.4

55.2
54.3
56.7
61.5
63.6
64.3
66.4

55.7
53.8
56.8
61.5
63.6
64.3
66.4

55.0
56.4
53.5
58.3
61.6
63.6
64.6

55.3
57.0
54.1
60.6
62.8
64.6
65.7

54.1
55.4
55.7
60.9
63.3
63.6
66.4

55.2
54.1
56.5
61.3
63.6
64.3
66.4

54.9
55.7
55.0
60.3
62.8
64.0
65.8

1955
1956
1957
1958
1959
1960
1961
1962..
1963
1964

67.5
68.6
70.9
72.3
72.3
74.1
75.1
77.2
82.8
88.2

67.5
69.3
70.5
72.2
72.2
73.9
75.1
77.6
84.0
88.2

67.5
69.8
70.3
72.2
71.9
73.8
75.1
78.1
84.2
88.5

67.5
70.1
70.2
72.8
71.8
73.7
75.2
78.7
84.7
88.6

67.5
70.2
70.2
73.4
72.2
73.9
75.4
78.7
84.7
89.4

67.5
69.9
70.2
73.5
72.2
73.9
75.4
78.5
84.8
90.0

67.5
69.9
70.6
73.4
71.8
74.2
75.7
79.3
84.7
90.5

67.5
70.0
70.6
73.4
72.1
74.2
75.8
79.5
85.0
90.7

67.5
70.1
70.9
73.1
72.4
74.2
75.9
79.8
85.7
91.2

68.1
70.0
71.2
72.6
73.1
74.2
76.0
80.0
86.6
91.5

68.1
70.2
71.6
72.6
73.5
74.6
76.6
82.5
86.9
92.2

68.7
70.5
72.1
72.4
73.7
74.7
76.7
81.8
87.4
92.6

67.5
69.2
70.6
72.2
72.1
73.9
75.1
77.6
83.7
88.3

67.5
70.1
70.2
73.2
72.1
73.8
75.3
78.6
84.7
89.3

67.5
70.0
70.7
73.3
72.1
74.2
75.8
79.5
85.1
90.8

68.3
70.2
71.6
72.5
73.4
74.5
76.4
81.4
87.0
92.1

67.7
69.9
70.8
72.8
72.4
74.1
75.7
79.3
85.1
90.1

1965
1966
1967
1968
1969
1970
1971
1972
1973
1974

93.0
95.9
98.8
101.0
102.1
106.4
112.1
117.4
126.9
143.6

93.1
95.9
99.0
101.0
102.2
107.3
112.6
118.0
128.4
146.6

93.3
95.9
99.2
101.1
102.6
107.8
113.1
118.3
129.7
150.4

93.6
96.1
99.3
101.3
103.1
108.2
113.3
118.6
131.0
152.3

93.8
96.3
99.7
101.4
103.3
108.7
114.0
119.7
133.0
154.5

94.0
96.3
99.9
101.3
103.7
108.8
114.1
120.3
134.2
156.7

94.5
96.3
100.1
101.1
104.3
109.1
114.4
120.7
134.9
159.8

94.7
96.4
100.3
101.1
104.6
109.3
114.6
121.5
135.8
163.3

94.9
96.4
100.8
101.2
104.7
110.4
115.4
122.7
136.6
168.0

94.9
96.6
100.7
101.3
105.0
110.7
115.9
124.0
137.7
171.2

95.2
97.3
100.8
101.4
105.6
111.2
116.5
125.0
139.3
174.4

95.6
97.9
100.8
101.7
106.0
111.7
116.9
125.5
141.3
175.9

93.1
95.9
99.0
101.0
102.3
107.2
112.6
117.9
128.3
146.9

93.8
96.2
99.6
101.3
103.4
108.6
113.8
119.5
132.7
154.5

94.7
96.4
100.4
101.1
104.5
109.6
114.8
121.6
135.8
163.7

95.2
97.3
100.8
101.5
105.5
111.2
116.4
124.8
139.4
173.8

94.2
96.4
100.0
101.2
103.9
109.1
114.4
121.0
134.1
159.7

1975
1976
1977
1978
1979
1980
1981
1982

178.2
197.7
238.8
271.1
305.1
367.9
440.7
517.7

180.8
202.1
243.4
273.9
309.7
374.3
449.1
524.4

181.0
206.1
246.5
277.4
313.8
378.2
455.4
529.1

183.4
211.6
249.5
280.0
317.8
384.3
461.3
533.9

184.9
215.8
252.6
282.7
321.3
388.2
468.7
539.8

186.4
216.8
254.3
285.1
323.9
391.7
473.9
545.2

187.1
217.9
255.8
286.8
326.7
398.7
477.7
553.4

188.3
220.3
258.2
288.3
330.6
403.5
481.0
563.4

189.8
224.0
261.5
292.9
339.2
411.6
487.7
571.3

191.9
230.5
265.0
295.5
345.5
418.5
497.5
582.7

194.1
235.5
267.6
298.6
350.3
427.3
506.0
590.3

195.6
238.6
268.9
300.1
356.6
432.5
511.1
594.4

180.0
202.0
242.9
274.1
309.5
373.5
448.4
523.7

184.9
214.7
252.1
282.6
321.0
388.1
468.0
539.6

188.4
220.7
258.5
289.3
332.2
404.6
482.1
562.7

193.9
234.9
267.2
298.1
350.8
426.1
504.9
589.1

186.8
218.1
255.2
286.0
328.4
398.1
475.8
553.8

See footnotes at end of this part.




9.1
9.3
9.2
8.9
10.6
10.6
10.4
10.5
12.1
12.1
12.5
12.1
15.3
14.3
8.2
7.2
737. Italy-index of
[1967=100]

Average for period

127

Year

Quarterly
Jan.

Feb.

Mar.

Apr.

May

June

July

Aug.

Sept.

Oct.

Nov.

Dec.

4

737c. Italy—change in index of consumer prices over 6-month spans
[Annual rate, percent]

JJL

IIP

III Q

IV Q

Annual

Average for period

1947
1948
1949
1950
1951
1952
1953
1954

5.1
-4.4
12.8
3.6
3
-.3

5.1
-3.3
12.0
2.6
2.2
3.8

0.7
.4
12.7
2.9
1.6
5.3

-8.5
-3.2
4.5
12.1
7.3
-.3
6.3

0
-2.5
7.2
7.6
3.6
.3
6.0

-2.5
-5.2
11.9
5.8
4.2
-.3
5.6

-0.7
-7.3
12.0
4.4
4.9
1.9
6.6

2.2
-7.9
12.3
5.1
4.2
0
3.1

5.6
-7.3
10.6
4.3
3.5
.3
.9

15.0
-6.0
10.4
-.3
1.6
2.5
3.3

7.5
-7.1
11.9
3.6
1.6
2.8
2.7

4.7
-6.4
9.0
5.3
.6
3.5
2.7

3.6
-2.4
12.5
3.0
1.4
2.9

-3.7
-3.6
7.9
8.5
5.0
-.1
6.0

2.4
-7.5
11.6
4.6
4.2
.7
3.5

9.1
-6.5
10.4
2.9
1.3
2.9
2.9

-3.5
6.9
7.1
3.4
1.2
3.8

1955
1956
1957
1958
1959
1960
1961
1962
1963
1964

2.4
4.7
-.3
4.0
-2.7
8
1.9
6.1
11.0
3.7

1.8
5.0
-.9
4.5
-1.4
1.1
2.2
5.6
5.7
5.8

2.7
3.2
-.6
4.2
0
1.1
2.4
5.3
8.0
6.5

-.3
3.8
-.8
3.4
-.8
.8
2.4
6.6
5.7
6.5

.9
2.6
.9
3.9
.3
1.6
3.0
6.0
3.6
6.7

.6
1.4
2.3
3.1
2.0
1.9
3.2
5.7
4.8
7.4

3.0
.9
3.7
0
4.5
2.2
2.9
4.4
5.5
7.6

3.3
.9
4.9
-1.9
3.6
1.9
3.2
9.9
5.3
6.4

4.2
1.7
5.2
-3.2
3.6
1.6
2.9
8.0
5.7
5.4

3.3
2.9
4.6
-3.5
5.9
1.6
3.2
8.0
7.2
4.5

4.5
.9
4.0
-3.8
4.5
1.3
3.7
10.6
6.4
4.4

6.3
0
3.1
-3.8
3.1
1.6
4.5
10.0
5.4
3.8

2.3
4.3
-.6
4.2
-1.4
1.0
2.2
5.7
8.2
5.3

.4
2.6
.8
3.5
.5
1.4
2.9
6.1
4.7
6.9

3.5
1.2
4.6
-1.7
3.9
1.9
3.0
7.4
5.5
6.5

4.7
1.3
3.9
-3.7
4.5
1.5
3.8
9.5
6.3
4.2

2.7
2.3
2.2
.6
1.9
1.5
3.0
7.2
6.2
5.7

1965
1966
1967
1968
1969
1970
1971
1972
1973
1974

3.7
1.7
5.0
6
3.0
6.0
4.6
4.5
10.9
21.4

3.5
2.1
4.6
.8
3.2
5.6
4.5
5.2
12.7
22.4

3.5
1.7
4.1
1.0
4.0
5.0
4.0
5.4
13.8
22.2

4.4
1.7
3.5
.8
4.8
5.5
4.3
6.1
13.3
24.1

4.4
1.9
3.5
.8
5.4
4.5
4.3
7.1
12.9
25.3

4.1
1.7
3.7
.6
4.5
5.3
4.5
7.8
11.3
25.6

3.7
1.7
3.5
.6
4.1
4.9
4.8
9.3
11.2
27.4

3.0
2.5
2.6
.4
4.9
5.0
4.8
9.4
10.2
28.0

3.0
3.4
1.8
.8
4.7
5.8
5.5
9.4
11.5
26.9

2.1
4.4
1.2
1.6
3.7
5.4
5.1
10.3
13.3
24.1

1.7
4.6
.8
1.6
4.6
5.4
5.1
10.8
15.5
21.3

1.5
5.2
.2
2.4
5.6
4.6
4.7
11.6
20.7
15.2

3.6
1.8
4.6
.8
3.4
5.5
4.4
5.0
12.5
22.0

4.3
1.8
3.6
.7
4.9
5.1
4.4
7.0
12.5
25.0

3.2
2.5
2.6
.6
4.6
5.2
5.0
9.4
11.0
27.4

1.8
4.7
.7
1.9
4.6
5.1
5.0
10.9
16.5
20.2

3.2
2.7
2.9
1.0
4.4
5.2
4.7
8.1
13.1
23.7

1975
1976
1977
1978
1979
1980
1981
1982

13.9
20.3
16.0
10.5
14.5
22.3
20.1
13.8

11.8
22.8
14.6
11.2
15.5
22.5
20.1
13.6

11.3
22.1
12.9
11.5
15.8
19.9
19.3
13.1

10.4
22.0
15.5
13.0
15.8
18.9
18.9
15.9

9.8
20.5
14.6
13.2
16.7
19.3
18.2
19.0

10.9
19.0
13.6
13.1
18.7
20.3
16.8
18.7

10.8
19.6
12.7
12.0
19.1
21.4
16.8
19.8

11.0
21.9
12.7
11.7
22.0
22.7
17.0
19.1

11.4
19.3
11.4
12.1
25.3
20.7
15.8
16.7

13.9
20.1
10.3
12.9
24.9
20.4
15.3
13.7

17.0
20.0
11.2
12.9
22.3
20.3
15.6
14.4

12.3
21.7
14.5
11.1
15.3
21.6
19.8
13.5

10.4
20.5
14.6
13.1
17.1
19.5
18.0
17.9

10.7
20.5
13.1
12.1
20.2
21.4
17.2
19.8

14.1
19.8
11.0
12.6
24.2
20.5
15.6
14.9

11.9
20.6
13.3
12.2
19.2
20.7
17.6
16.5

10.3
19.9
13.9
12.5
19.6
20.0
17.7
20.6
rpricesC

Average for period
1947
1948
1949
1950
1951
1952
1953
1954

30.7
48.3
48.9
49.3
55.0
56.1
62.4

30.1
48.9
47.0
51.4
55.0
56.7
62.6

33.5
50.1
45.7
52.5
55.4
56.9
62.6

35.3
50.8
44.5
52.8
55.5
57.9
62.8

36.7
52.0
45.0
52.4
54.8
57.7
62.6

40.7
50.7
43.1
52.2
54.3
58.6
62.6

40.1
48.4
44.6
51.4
55.3
59.0
62.9

43.8
47.7
45.0
53.2
55.0
59.4
62.2

45.9
48.2
45.5
54.2
54.9
60.5
62.2

42.8
47.5
44.3
54.5
54.8
62.9
62.9

43.8
46.7
45.0
55.0
54.8
62.0
61.6

45.5
47.8
46.7
54.8
54.9
62.0
61.0

31.4
49.1
47.2
51.1
55.1
56.6
62.5

37.6
51.2
44.2
52.5
54.9
58.1
62.7

43.3
48.1
45.0
52.9
55.1
59.6
62.4

44.0
47.3
45.3
54.8
54.8
62.3
61.8

39.1
48.9
45.4
52.8
55.0
59.1
62.4

1955
1956
1957
1958
1959
1960
1961
1962
1963
1964

61.6
61.0
63.3
63.8
65.3
67.0
69.0
74.6
79.3
83.4

61.7
61.7
62.8
63.5
64.8
67.2
69.4
74.5
80.0
83.1

61.4
62.2
62.9
63.3
64.8
67.1
69.9
75.0
80.9
84.0

62.4
61.8
63.5
63.8
65.2
67.6
70.6
75.8
81.8
85.4

61.7
61.7
64.0
63.8
64.8
67.9
69.6
76.7
82.7
85.5

61.4
62.9
64.2
64.8
64.7
67.9
70.8
76.7
83.7
85.6

60.8
60.9
64.2
64.0
64.8
67.8
71.4
77.3
84.1
85.5

61.4
61.7
64.7
64.8
65.9
68.5
71.9
76.1
81.9
85.6

61.0
62.2
64.5
64.7
65.6
68.5
72.2
75.7
82.7
86.1

62.1
63.2
64.8
66.4
66.4
68.5
73.8
77.0
83.4
87.8

60.9
62.3
63.8
65.7
66.4
68.1
74.0
76.9
83.3
87.1

60.9
62.9
63.8
65.4
66.4
68.2
74.3
78.0
82.9
87.0

61.6
61.6
63.0
63.5
65.0
67.1
69.4
74.7
80.1
83.5

61.8
62.1
63.9
64.1
64.9
67.8
70.3
76.4
82.7
85.5

61.1
61.6
64.5
64.5
65.4
68.3
71.8
76.4
82.9
85.7

61.3
62.8
64.1
65.8
66.4
68.3
74.0
77.3
83.2
87.3

61.4
62.0
63.9
64.5
65.4
67.9
71.4
76.2
82.2
85.5

1965
1966
1967
1968
1969
1970
1971
1972
1973
1974

89.6
94.1
98.9
103.8
107.7
116.1
124.6
129.5
138.4
168.3

89.6
94.9
99.4
104.2
108.1
117.1
124.4
130.1
139.6
174.1

90.9
95.3
99.8
104.7
109.2
118.4
124.3
131.0
142.8
175.1

92.7
96.9
99.8
104.9
110.5
119.3
126.2
132.1
145.2
180.0

91.4
95.6
98.6
105.4
110.3
117.9
126.1
132.9
147.8
180.5

91.4
96.3
98.1
103.9
110.3
117.3
127.3
132.9
148.3
181.3

90.9
96.4
98.0
104.5
112.8
117.8
126.7
133.0
149.5
185.2

91.1
95.7
98.6
104.4
112.8
118.4
125.7
134.0
150.8
187.0

92.7
96.8
101.1
108.5
114.2
121.5
130.9
135.4
154.7
189.9

93.9
97.4
102.5
107.5
114.0
124.0
130.6
135.6
153.6
194.4

92.9
96.8
102.5
107.7
113.8
123.4
129.4
135.4
155.6
195.7

93.3
97.5
103.0
107.2
114.2
124.2
129.4
136.8
160.0
196.5

90.0
94.8
99.4
104.2
108.3
117.2
124.4
130.2
140.3
172.5

91.8
96.3
98.8
104.7
110.4
118.2
126.5
132.6
147.1
180.6

91.6
96.3
99.2
105.8
113.3
119.2
127.8
134.1
151.7
187.4

93.4
97.2
102.7
107.5
114.0
123.9
129.8
135.9
156.4
195.5

91.7
96.1
100.0
105.6
111.5
119.6
127.1
133.2
148.9
184.0

1975
1976
1977
1978
1979
1980
1981
1982

198.8
216.0
236.0
246.1
253.9
271.3
291.1
300.7

198.8
217.3
237.2
247.1
253.1
273.3
290.8
299.8

200.8
218.1
238.7
249.4,
255.1
275.0
292.2
300.4

204.5
223.5
242.6
252.1
258.6
280.1
294.5
302.9

205.1
224.1
244.9
253.5
261.3
282.6
297.0
303.8

204.9
224.5
243.6
252.1
261.5
284.0
297.3
303.8

205.3
225.7
243.0
253.1
263.8
284.0
296.4
301.5

204.9
223.9
243.0
253.3
261.1
283.2
294.7
303.8

209.5
229.8
247.3
256.4
264.4
288.3
299.5
309.1

213.0
231.3
248.6
256.8
267.7
288.8
300.7
310.0

211.9
231.3
245.7
254.1
266.7
289.4
299.8
306.6

211.7
233.7
245.1
253.7
268.3
288.3
299.8
306.0

199.5
217.1
237.3
247.5
254.0
273.2
291.4
300.3

204.8
224.0
243.7
252.6
260.5
282.2
296.3
303.5

206.6
226.5
244.4
254.3
263.1
285.2
296.9
304.8

212.2
232.1
246.5
254.9
267.6
288.8
300.1
307.5

205.8
224.9
243.0
252.3
261.3
282.4
296.2
304.0

27.8
-17.0
29.2
-2.0
10.6
.4

99.0
.9
-4.3
11.9
3.3
13.8
1.3

46.6
-9.8
9.9
12.0
1.5
16.0
-2.4

23.1
-8.1
23.3
4.9
2.7
8.2
-3.8

2.7
3.0
14.5
1.4
12.2
-1.1

-1.8
2.0
.4
5.1
4.7
1.8
12.0
4.1
3.1
6.0

1.4
4.5
-2.8
1.6
5.2
3.3
7.8
9.1
.2
8.4

-.3
2.4
1.6
2.5
2.2
3.2
8.1
5.8
6.0
6.3

738c. Japan—change in index of consumer prices over 6-month spans4
[Annual rate, percent]

1947
1948
1949
1950
1951
1952
1953
1954

32.5
-17.4
35.1
-.4
8.9
-1.3

28.8
-14.1
28.3
-3.9
8.9
1.3

1955
1956
1957
1958
1959
1960
1961
1962
1963
1964

-1.0
7
3.2
-1.2
-2.1
4.6
6.6
5.0
11.5
3.1

1965
1966
1967
1968
1969
1970
1971
1972
1973
1974
1975
1976
1977
1978
1979
1980
1981
1982

Average for period

22.0
-19.6
24.2
-1.8
13.9
1.3

84.1
7.8
-11.3
14.1
4.8
13.3
3.9

119.5
-1.2
-4.3
11.4
4.1
12.8
.3

93.5
-4.0
2.7
10.3
1.1
15.4
-.3

55.9
-7.4
4.6
10.6
.4
19.3
.3

56.8
-12.5
6.9
14.7
2.2
16.6
-2.9

27.1
-9.6
18.3
10.6
1.8
12.2
-4.7

34.5
-4.4
15.6
10.3
0
9.7
-5.9

20.0
-6.6
25.3
3.0
2.9
8.9
-2.5

14.9
-13.2
29.1
1.5
5.2
6.0
-2.9

-.3
2.0
5.2
-.3
-2.7
4.3
3.3
5.5
12.8
2.9

.7
5.6
3.2
2.5
-3.0
3.3
6.2
4.9
13.2
5.1

-1.0
1.3
4.5
1.9
-.3
3.0
7.4
7.6
13.0
6.1

-.3
0
5.5
2.8
2.2
3.0
6.7
4.3
5.6
7.8

-1.0
-.6
4.2
3.8
2.2
4.5
7.6
3.2
6.5
7.0

-2.2
2.6
2.2
6.7
2.5
2.1
9.3
4.0
5.2
7.2

-1.9
2.3
-.3
6.0
5.0
1.2
14.6
2.9
4.2
6.2

-1.3
1.0
-.6
2.5
6.6
2.1
12.0
5.3
-.2
4.7

-.7
6.3
-2.8
2.8
5.9
3.0
8.9
5.0
-2.4
8.6

.7
3.9
-2.8
1.2
5.2
3.5
7.9
10.2
2.0
7.6

4.3
3.2
-2.8
.9
4.6
3.5
6.7
12.2
1.0
9.0

-2.6
4.1
5.4
5.1
12.5
3.7

-.8
.2
4.7
2.8
1.4
3.5
7.2
5.0
8.4
7.0

9.8
5.0
4.0
4.0
5.1
9.4
3.1
1.5
13.5
35.2

7.9
4.3
3.1
5.7
5.3
7.3
3.9
4.0
16.7
31.0

9.4
6.3
1.8
2.9
7.2
6.6
5.4
5.1
16.3
26.2

4.5
7.2
.2
3.5
11.9
4.4
4.4
6.0
17.0
20.9

5.7
4.7
1.6
3.3
11.6
3.8
3.2
6.9
17.7
16.8

5.8
4.7
3.5
7.8
9.4
5.2
10.6
6.5
17.1
17.1

4.0
2.3
6.4
5.9
6.9
8.3
7.8
6.2
13.4
18.1

5.3
3.6
8.5
4.0
6.1
9.7
6.1
5.5
13.4
21.1

5.1
2.5
9.3
5.2
5.8
11.3
3.2
6.7
18.0
20.1

5.3
3.1
10.0
4.0
4.3
10.6
3.6
7.9
26.5
15.0

5.7
4.6
8.2
4.4
5.7
8.9
6.3
7.9
31.8
11.7

3.7
4.8
6.4
.9
7.7
5.0
.6
11.7
28.5
12.5

9.0
5.2
3.0
4.2
5.9
7.8
4.1
3.5
15.5
30.8

5.3
5.5
1.8
4.9
11.0
4.5
6.1
6.5
17.3
18.3

4.8
2.8
8.1
5.0
6.3
9.8
5.7
6.1
14.9
19.8

4.9
4.2
8.2
3.1
5.9
8.2
3.5
9.2
28.9
13.1

6.0
4.4
5.2
4.3
7.2
7.5
4.8
6.3
19.2
20.5

9.6
9.1
9.3
2.8
1.7
9.9
4.4
1.9

6.8
9.1
9.2
3.9
3.2
9.6
3.1
.5

6.8
10.9
7.0
3.7
4.0
9.4
3.8
.1

7.3
9.5
5.7
5.4
7.1
8.5
2.6
-.5

7.8
7.4
6.0
5.7
6.6
7.6
2.9
2.9

8.0
9.8
5.7
3.8
5.3
8.0
3.2
4.0

9.5
7.9
5.5
3.8
6.9
6.1
3.9
4.4

9.3
9.1
3.1
3.0
6.7
7.2
4.1
4.1

8.1
9.9
2.8
3.4
7.6
5.5
4.2
3.7

10.3
9.3
3.0
1.2
6.6
6.2
4.0
4.0

11.1
11.2
2.5
-.5
9.3
5.3
3.3
.7

9.4
9.6
3.5
.8
10.4
4.6
2.4
.9

7.7
9.7
8.5
3.5
3.0
9.6
3.8

7.7
8.9
5.8
5.0
6.3
8.0
2.9
2.1

9.0
9.0
3.8
3.4
7.1
6.3
4.1
4.1

10.3
10.0
3.0
.5
8.8
5.4
3.2
1.9

8.7
9.4
5.3
3.1
6.3
7.3
3.5
2.2

128



-.2
2.8
3.9
.3

Year

Jan.

Feb.

Mar.

Apr.

May

Monthly
June
July

742. United Kingdom-index of stock prices (
[1967=100]
40.4
42.5
41.6
33.4
36.0
33.6
29.2
31.5
29.2
30.7
30.5
31.9
36.0
38.0
38.4
30.7
29.3
29.0
34.3
33.5
33.5
47.2
43.9
45.1

1947
1948
1949
1950
1951
1952
1953
1954

41.8
38.4
35.7
29.5
33.5
32.5
33.9
39.7

40.4
33.4
34.8
30.5
34.3
31.8
34.9
40.5

39.8
34.8
32.1
29.8
33.9
30.5
35.6
40.9

41.3
36.0
32.7
29.8
37.0
32.5
34.9
43.0

1955
1956
1957
1958
1959
1960
1961
1962
1963
1964

56.5
51.1
51.1
45.3
60.6
88.0
87.7
82.3
85.2
98.8

50.5
48.0
51.6
42.9
62.1
86.1
92.0
83.2
86.6
96.2

51.5
48.7
51.8
45.8
62.5
86.8
95.9
81.0

52.6
52.3
54.8
47.9
65.3
82.0
97.9
86.9
89.8
100.5

56.5
49.7
55.1
48.3
67.3
84.9
96.8
84.9
90.6
99.0

61.1
48.3
55.8
50.6
67.5
82.7
89.0
77.5
90.0
97.7

1965
1966
1967
1968
1969
1970
1971
1972
1973
1974

93.4
97.7
88.8
114.6
164.5
139.3
123.5
175.2
182.2
126.1

95.6
100.8
88.6
117.9
159.5
135.0
121.6
180.0
168.3
123.5

92.1
98.7
90.0
120.5
152.6
131.4
120.1
185.8
164.3
115.6

92.5
98.2
94.7
133.3
150.7
128.8
130.6
190.9
168.0
111.7

94.2
101.3
96.6
139.3
143.2
115.6
146.6
194.5
166.8
112.4

90.3
102.4

1975
1976
1977
1978
1979
1980
1981
1982

68.8
150.7
149.6
198.2
211.1
224.3
259.0
291.1

99.0
152.6
157.0
187.7
212.2
239.4
269.0
300.1

108.7
152.5
164.2
187.5
240.8
231.6
273.2
298.8

114.7
154.0
164.9
191.9
255.7
228.1
293.2
303.2

125.7
155.9
180.3
202.9
255.0
230.3
295.6
315.4
743.

97.1
142.4
133.1
112.7
147.0
184.1
171.3
103.1

Aug.

Sept.

Oct.

Nov.

Dec.

IQ

Quarterly
IIQ
ill Q

Average for period
36.4
33.6
29.8
31.6
37.1
31.9
35.8
49.3

Annual

36.1
35.1
29.4
32.8
36.3
32.4
38.0
53.2

38.7
34.9
31.1
31.2
36.3
31.5
35.6
46.7

57.0
50.0
53.3
53.3
69.5
85.5
83.9
79.1
93.6
101.8

53.9
47.6
46.7
59.0
84.0
85.0
81.0
82.9
99.4
95.8

55.1
49.2
51.7
51.5
70.5
85.2
87.8
81.8
92.5
98.6

92.3
100.6
96.1
138.3
142.3
119.0
141.4
189.8
168.7
109.1

88.5
90.6
101.7
153.9
128.7
117.9
159.6
188.6
157.3
83.2

96.8
84.4
113.0
155.0
129.4
123.2
160.4
185.4
145.6
64.8

92.8
93.7
100.0
141.2
139.8
123.8
145.8
186.0
160.8
94.7

92.2
151.9
156.9
191.1
221.4
231.8
267.1
296.7

122.4
151.9
174.6
198.7
250.6
233.0
292.6
311.1

120.6
139.5
192.9
216.0
234.3
258.4
287.4
325.6

138.0
123.6
202.3
212.9
223.9
270.8
273.9
365.9

118.3
141.7
181.7
204.7
232.5
248.5
280.2
324.8

33.6
33.6
29.5
31.3
37.4
32.8
36.0
50.0

35.1
33.9
30.7
32.7
38.0
32.1
37.0
50.7

34.6
34.8
29.0
32.7
39.1
32.1
38.0
53.4

36.0
35.4
29.2
33.1
35.3
32.5
37.7
52.8

37.7
35.1
30.0
32.5
34.6
32.5
38.4
53.4

40.7
35.5
34.2
29.9
33.9
31.6
34.8
40.4

41.8
35.2
31.1
30.7
37.8
30.3
34.0
44.0

59.6
50.2
56.1
50.7
66.2
82.8
86.5
77.1
91.2
100.9

56.2
50.5
54.5
53.7
71.9
87.3
83.2
80.1
93.9
102.1

55.1
49.4
49.4
55.5
70.5
86.5
82.0
80.0
95.8
102.4

54.0
49.4
46.5
57.4
80.8
87.5
79.8
80.4
97.9
100.0

53.0
45.1
47.1
57.8
82.8
83.3
80.9
83.6
99.2
95.5

54.7
48.3
46.4
61.7
88.5
84.3
82.2
84.8
101.1
91.9

52.8
49.3
51.5
44.7
61.7
87.0
91.9
82.2
86.8
97.9

56.7
50.1
55.2
48.9
66.7
83.2
94.6
83.1
90.1
99.1

86.9
98.1
99.5
150.0
128.5
115.0
156.6
187.1
161.1
93.6

88.1
87.4
100.3
154.0
128.0
118.1
158.5
195.5
156.4
81.6

90.4
86.2
105.3
157.6
129.6
120.5
163.6
183.2
154.5
74.3

95.8
85.0
110.7
152.6
127.3
128.3
159.7
179.9
159.1
70.9

98.3
83.0
115.1
154.5
128.6
120.3
156.0
185.6
151.2
65.3

96.4
85.3
113.2
157.8
132.4
121.0
165.5
190.8
126.4
58.2

93.7
99.1
89.1
117.7
158.9
135.2
121.7
180.3
171.6
121.7

115.3
140.1
191.6
220.3
233.9
256.7
298.6
320.1

127.9
131.9
208.7
223.3
236.3
262.6
278.9
343.5

132.4
116.6
210.4
217.4
238.9
267.4
259.5
360.7

141.5
121.5
197.7
208.1
215.6
277.5
278.0
372.0

140.1
132.7
198.8
213.3
217.1
267.6
284.2
365.0

126.7
118.6
145.8
146.4
178.6
178.4
201.2
204.4
241.0
232.8
240.7
255.9
289.0
284.8
314.6
313.2
of stock prices®
[1967=100]

IV Q

1947
1948
1949
1950
1951
1952
1953
1954

20.8
22.2
23.1
31.3
37.9
35.5
31.8

19.3
20.8
22.9
34.2
37.7
34.6
33.1

19.3
20.3
22.9
33.5
37.0
34.6
33.5

21.0
20.3
24.5
34.4
36.5
32.7
35.5

22.7
20.1
25.2
34.2
35.1
32.2
36.7

23.3
18.7
25.6
33.3
35.5
31.5
36.5

22.7
19.8
24.3
33.7
36.3
32.7
36.7

21.9
20.6
27.0
35.5
36.5
32.9
38.1

21.9
20.8
28.3
37.7
35.5
30.9
38.9

22.7
21.9
29.1
38.5
33.5
30.7
38.9

23.1
22.9
29.1
36.3
34.4
31.2
41.2

22.7
22.9
29.3
36.5
34.4
30.9
42.6

19.8
21.1
23.0
33.0
37.5
34.9
32.8

22.3
19.7
25.1
34.0
35.7
32.1
36.2

22.2
20.4
26.5
35.6
36.1
32.2
37.9

22.8
22.6
29.2
37.1
34.1
30.9
40.9

21.8
20.9
25.9
34.9
35.9
32.5
37.0

1955
1956
1957
1958
1959
1960
1961
1962
1963
1964

42.9
54.0
57.5
46.2
62.5
58.1
61.2
72.4
73.3
82.6

44.5
53.8
55.1
46.6
63.0
55.4
63.4
73.5
70.6
81.3

44.2
57.7
56.1
47.8
62.3
55.5
64.9
74.3
72.9
86.0

45.2
58.9
58.8
46.9
61.6
54.0
66.5
73.1
76.0
89.3

46.2
57.5
61.2
49.0
61.2
56.3
67.6
72.9
77.5
92.2

49.8
57.3
61.1
51.2
61.4
55.1
68.3
67.6
74.8
92.4

51.3
60.4
60.3
52.9
65.2
52.9
69.1
64.7
73.1
94.2

51.3
62.3
54.8
54.9
62.2
56.6
71.0
65.9
73.6
93.5

54.0
59.3
51.0
55.9
58.8
52.4
70.3
63.0
76.2
97.5

50.4
57.1
46.4
57.8
58.6
52.4
70.8
64.9
76.3
98.0

51.8
55.1
46.5
58.6
58.9
55.5
72.7
70.2
76.3
97.8

52.4
56.2
46.1
58.1
61.3
58.1
75.2
70.1
79.3
97.4

43.9
55.2
56.2
46.9
62.6
56.3
63.2
73.4
72.3
83.3

47.1
57.9
60.4
49.0
61.4
55.1
67.5
71.2
76.1
91.3

52.2
60.7
55.4
54.6
62.1
54.0
70.1
64.5
74.3
95.1

51.5
56.1
46.3
58.2
59.6
55.3
72.9
68.4
77.3
97.7

48.7
57.5
54.6
52.2
61.4
55.2
68.4
69.4
75.0
91.8

1965
1966
1967
1968
1969
1970
1971
1972
1973
1974

102.3
103.1
96.5
98.2
119.8
112.1
109.0
121.3
150.0
145.9

101.8
100.7
96.7
93.9
113.7
116.1
107.5
125.5
145.4
148.4

101.8
99.7
99.1
91.1
116.9
117.5
112.5
123.2
147.5
144.4

103.1
101.9
101.2
99.2
120.1
106.8
110.1
124.2
140.3
133.3

103.2
97.6
97.0
96.6
124.3
94.1
107.8
130.4
134.1
120.2

96.9
97.1
98.0
100.5
110.8
91.3
110.3
128.8
139.4
118.0

94.5
95.5
103.5
100.9
104.4
96.9
110.1
131.2
148.1
120.4

96.6
87.6
102.1
105.1
110.0
98.6
111.5
139.9
149.8
108.5

97.8
85.1
104.7
109.4
110.2
101.8
106.1
139.6
154.8
95.2

100.1
88.1
98.7
110.8
110.3
99.8
100.1
134.1
162.7
105.1

97.0
87.4
101.0
115.1
113.4
104.1
102.3
142.2
144.2
94.2

98.6
90.1
101.5
116.7
113.2
107.3
112.9
150.0
144.0
95.0

102.0
101.2
97.4
94.4
116.8
115.2
109.7
123.3
147.6
146.2

101.1
98.9
98.7
98.8
118.4
97.4
109.4
127.8
137.9
123.8

96.3
89.4
103.4
105.1
108.2
99.1
109.2
136.9
150.9
108.0

98.6
88.5
100.4
114.2
112.3
103.7
105.1
142.1
150.3
98.1

99.5
94.5
100.0
103.1
113.9
103.9
108.4
132.5
146.7
119.0

1975
1976
1977
1978
1979
1980
1981
1982

110.7
117.8
107.3
99.1
138.4
224.7
223.7
185.3

112.6
122.7
108.5
98.7
141.1
256.3
218.6
176.7

110.3
121.7
111.0
105.3
150.7
203.2
233.9
173.1

115.7
122.2
108.2
106.9
149.5
212.8
232.3
171.2

118.4
115.3
101.6
120.8
178.6
232.3
231.6
177.4

111.2
111.7
100.6
129.5
191.7
233.5
192.3
177.3

103.8
106.5
96.4
122.3
175.2
223.3
190.4
192.6

110.7
97.5
100.9
129.1
189.3
235.2
208.9
189.7

106.4
108.7
106.9
131.7
199.5
219.9
201.2
199.5

111.2
120.7
108.9
101.0
143.4
228.1
225.4
178.4

118.4
121.3
106.0
108.5
157.7
218.9
240.3
164.5

116.6
114.5
102.9
122.3
176.6
235.3
218.7
170.5

107.0
104.2
101.4
127.7
188.0
226.1
200.2
193.9

113.3
115.2
104.8
114.9
166.4
227.1
221.2
176.8

1947
1948
1949
1950
1951
1952
1953
1954

9.3
9.9
18.9
14.0
16.2

9.3
10.6
18.7
13.7
16.9

8.4
10.9
17.2
13.3
17.2

8.5
10.8
16.9
13.3
17.0

8.4
11.1
15.7
13.2
17.3

8.5
11.6
14.9
13.2
18.3

8.5
12.1
14.6
13.3
19.8

9.0
12.9
14.6
14.0
20.3

9.4
14.0
15.3
14.9
21.6

9.6
15.3
14.4
15.6
23.3

9.3
16.7
14.0
15.8
24.2

9.4
17.0
13.8
15.7
25.7

9.0
10.5
18.3
13.7
16.8

8.5
11.2
15.8
13.2
17.5

9.0
13.0
14.8
14.1
20.6

9.4
16.3
14.1
15.7
24.4

9.0
12.7
15.8
14.2
19.8

1955
1956
1957
1958
1959
1960
1961
1962
1963
1964

27.5
31.6
29.4
33.2
55.5
94.6
139.6
121.0
93.7
114.2

27.3
30.7
28.3
33.2
55.5
94.6
139.6
120.0
89.8
116.2

28.7
30.7
29.4
34.2
57.6
95.7
137.6
119.1
92.6
118.2

31.6
31.2
29.4
36.1
59.6
100.5
140.5
115.1
95.7
116.2

31.9
30.2
28.3
36.1
69.3
117.1
152.2
98.5
107.4
113.2

32.1
29.4
28.3
38.1
75.2
141.5
144.5
91.8
104.5
111.3

33.0
29.0
30.2
39.1
82.9
144.5
133.7
87.8
105.4
113.2

33.9
28.3
30.2
43.0
94.6
174.7
121.0
91.8
110.3
116.2

34.1
28.7
30.2
46.8
85.9
155.3
121.0
85.9
110.3
115.1

31.5
29.2
30.2
50.7
84.0
148.4
127.9
84.9
108.4
109.3

30.3
28.6
31.3
50.7
86.9
143.5
131.8
100.5
104.5
109.3

31.5
29.0
31.3
52.7
92.6
142.5
125.9
96.6
108.4
112.3

27.8
31.0
29.0
33.5
56.2
95.0
138.9
120.0
92.0
116.2

31.9
30.3
28.7
36.8
68.0
119.7
145.7
101.8
102.5
113.6

33.7
28.7
30.2
43.0
87.8
158.2
125.2
88.5
108.7
114.8

31.1
28.9
30.9
51.4
87.8
144.8
128.5
94.0
107.1
110.3

31.1
29.7
29.7
41.2
75.0
129.4
134.6
101.1
102.6
113.7

1965
1966
1967
1968
1969
1970
1971
1972
1973
1974

112.3
110.3
88.2
123.6
134.7
144.6
115.7
117.7
138.8
110.3

110.3
112.3
93.6
125.3
136.0
140.5
123.4
125.9
136.3
110.5

107.4
110.5
94.6
124.2
136.1
137.7
124.6
130.5
142.2
108.1

107.4
107.9
93.7
129.9
136.9
137.3
121.3
134.8
142.1
111.7

105.4
101.0
92.3
131.3
143.7
125.2
120.8
138.4
129.7
112.2

104.5
96.4
90.6
134.2
144.7
119.6
119.1
135.6
128.1
108.1

103.4
90.8
92.1
136.7
138.6
117.5
119.7
134.3
119.8
103.2

105.4
91.8
104.2
137.5
144.0
122.2
119.8
138.8
119.1
104.3

105.4
95.6
108.4
133.7
145.4
117.2
113.0
134.3
115.8
99.4

102.6
93.0
109.8
136.5
151.5
114.8
108.7
130.6
117.6
95.7

99.5
89.8
115.7
133.7
156.7
109.5
105.2
132.3
112.0
96.9

98.5
89.8
116.9
130.7
150.9
108.6
112.7
131.5
105.5
100.9

110.0
111.0
92.1
124.4
135.6
140.9
121.2
124.7
139.1
109.6

105.8
101.8
92.2
131.8
141.8
127.4
120.4
136.3
133.3
110.7

104.7
92.7
101.6
136.0
142.7
119.0
117.5
135.8
118.2
102.3

100.2
90.9
114.1
133.6
153.0
111.0
108.9
131.5
111.7
97.8

105.2
99.1
100.0
131.4
143.3
124.6
117.0
132.1
125.6
105.1

1975
1976
1977
1978
1979
1980
1981
1982

105.0
131.9
119.5
126.5
135.0
117.2
115.3
116.8

112.4
135.0
118.3
127.9
131.9
123.3
114.0
118.4

120.3
136.5
118.1
126.1
131.2
118.1
116.3
120.1

124.5
132.6
124.0
124.9
130.6
116.5
122.7
120.6

119.3
126.7
128.4
124.0
127.8
118.8
122.1
117.6

114.5
127.2
125.2
127.1
121.7
120.6
126.1
114.2

117.4
124.8
124.3
129.1
122.0
121.2
127.5
113.5

119.6
122.0
126.0
132.3
124.3
121.7
122.5
112.3

115.7
122.3
124.9
136.4
125.7
120.0
122.5
115.6

118.8
115.9
126.4
138.7
123.5
120.6
118.8
118.2

126.1
115.8
128.5
134.8
118.3
117.2
118.0
118.8

128.3
117.1
125.4
133.9
118.8
116.3
117.7
124.3

112.6
134.5
118.6
126.8
132.7
119.5
115.2
118.4

119.4
128.8
125.9
125.3
126.7
118.6
123.6
117.5

117.6
123.0
125.1
132.6
124.0
121.0
124.2
113.8

124.4
116.3
126.8
135.8
120.2
118.0
118.2
120.4

118.5
125.6
124.1
130.1
125.9
119.3
120.3
117.5

See footnotes at end of this part.




121.7
117.8
120.3
121.5
120.1
116.4
102.4
107.3
106.6
109.4
109.1
116.7
154.8
168.9
159.4
216.4
227.5
240.0
245.7
242.9
232.3
168.4
153.8
156.8
745. West 6ermany—index of stock prices <§)
[1967=100]

129

Year

Jan.

Feb.

Mar.

Apr.

May

Monthly
June
July .

Aug.

Sept.

Oct.

Nov.

Dec.

746. France—index of stock prices <g>
[1967 = 100]

1 IQ

Quarterly
III Q
II fi

IV Q

Annual

Averafe for period

1947
1948
1949
1950
1951
1952
1953
1954

21.6
24.4
24.5
22.4
22.3
35.2
37.1
41.9

20.6
23.3
22.8
21.0
24.5
37.1
37.1
41.2

22.0
23.5
21.3
21.6
24.8
34.9
36.2
43.0

20.5
23.3
21.7
21.4
25.2
34.9
36.0
45.5

20.5
22.0
20.9
21.4
25.2
32.9
36.2
47.9

23.0
21.4
20.9
22.3
26.2
36.0
37.1
46.8

23.3
24.1
22.0
20.5
25.8
36.0
37.7
50.8

26.0
24.1
23.0
21.6
28.8
36.2
38.5
55.7

26.3
26.2
23.0
22.6
30.5
34.9
39.4
59.3

25.1
27.6
22.4
21.9
31.1
34.8
39.5
61.5

26.0
25.5
21.0
21.6
30.1
34.2
39.0
68.6

23.5
25.3
21.9
19.9
31.2
34.9
39.0
73.2

21.4
23.7
22.9
21.7
23.9
35.7
36.8
42.0

21.3
22.2
21.2
21.7
25.5
34.6
36.4
46.7

25.2
24.8
22.7
21.6
28.4
35.7
38.5
55.3

24.9
26.1
21.8
21.1
30.8
34.6
39.2
67.8

23.2
24.2
22.1
21.5
27.1
35.2
37.7
53.0

1955
1956
1957
1958
1959
1960
1961
1962
1963
1964

68.1
67.5
77.8
99.4
94.0
120.1
149.2
158.2
155.9
141.4

68.1
65.8
84.2
89.0
94.4
125.3
157.6
174.9
150.8
132.2

75.7
69.6
93.8
83.0
94.4
122.4
163.7
183.8
151.2
126.5

76.7
72.7
95.9
84.1
100.6
130.1
165.2
184.0
145.5
126.8

67.5
73.4
104.0
84.7
108.1
132.6
166.1
167.6
141.8
120.1

68.5
76.7
108.3
80.6
106.7
137.8
160.8
158.6
137.8
112.8

71.3
83.7
117.3
79.5
113.6
142.3
152.3
163.7
144.5
128.1

71.3
81.2
117.9
80.9
116.9
149.1
153.0
162.4
150.3
128.5

75.3
80.9
110.8
84.1
116.7
140.7
148.2
163.5
142.9
121.2

71.3
80.9
102.3
82.5
125.4
135.8
149.0
155.1
139.1
123.6

67.8
71.3
103.9
81.4
132.2
142.1
158.8
164.4
133.4
126.5

69.6
78.1
99.1
81.4
132.7
138.3
163.5
159.1
133.8
126.0

70.6
67.6
85.3
90.5
94.3
122.6
156.8
172.3
152.6
133.4

70.9
74.3
102.7
83.1
105.1
133.5
164.0
170.1
141.7
119.9

72.6
81.9
115.3
81.5
115.7
144.0
151.2
163.2
145.9
125.9

69.6
76.8
101.8
81.8
130.1
138.7
157.1
159.5
135.4
125.4

70.9
75.2
101.3
84.2
111.3
134.7
157.3
166.3
143.9
126.1

1965
1966
1967
1968
1969
1970
1971
1972
1973
1974

123.2
125.8
98.0
105.3
111.9
152.8
135.7
127.7
159.0
157.8

119.4
121.2
101.4
103.2
119.2
148.7
139.3
130.2
158.2
152.2

124.6
116.3
97.1
111.9
128.5
145.7
136.9
140.3
168.8
139.4

123.0
112.7
94.4
116.1
127.0
140.3
137.0
147.0
174.8
148.7

121.2
109.5
98.2
109.9
134.3
135.8
140.7
155.5
179.4
132.5

115.6
108.7
96.6
105.9
122.5
132.5
140.1
147.2
173.3
122.4

112.1
106.5
92.8
101.4
119.7
136.6
141.3
155.8
166.8
123.4

116.3
107.3
98.2
104.4
125.6
138.2
135.3
162.0
163.9
113.9

115.2
100.4
108.8
104.0
125.8
135.1
128.2
163.2
164.7
96.7

112.0
99.4
107.9
102.4
134.3
136.9
118.4
163.7
167.2
103.8

110.9
106.3
105.2
104.4
132.2
133.9
124.1
153.0
152.0
103.4

115.5
102.7
101.5
107.5
137.4
135.5
123.7
149.2
151.6
106.5

122.4
121.1
98.8
106.8
119.9
149.1
137.3
132.7
162.0
149.8

119.9
110.3
96.4
110.6
127.9
136.2
139.3
149.9
175.8
134.5

114.5
104.7
99.9
103.3
123.7
136.6
134.9
160.3
165.1
111.3

112.8
102.8
104.9
104.8
134.6
135.4
122.1
155.3
156.9
104.6

117.4
109.7
100.0
106.4
126.5
139.3
133.4
149.6
165.0
125.1

1975
1976
1977
1978
1979
1980
1981
1982

162.0
143.5
116.0
98.0
160.9
203.8
191.1
185.7

122.9
150.8
109.7
100.3
149.9
207.4
201.1
193.1

131.0
146.6
101.6
120.0
155.4
185.4
209.4
145.9

141.8
140.1
93.9
130.6
164.5
189.0
197.7
184.8

130.2
138.2
97.2
133.3
162.0
201.1
162.5
183.3

126.6
135.4
104.0
135.7
171.7
201.4
152.3
166.3

131.4
129.7
99.8
149.8
173.7
198.9
168.9
161.1

136.9
130.5
105.3
150.6
188.6
199.9
177.4
169.3

133.9
126.8
109.7
165.1
207.4
203.0
176.5
168.4

135.8
112.5
111.9
158.7
187.5
218.0
163.9
170.7

141.1
108.4
111.3
155.4
189.1
215.2
169.2
174.5

139.5
115.2
105.3
158.7
186.8
206.6
170.7
169.9

138.6
147.0
109.1
106.1
155.4
198.9
200.5
174.9

132.9
137.9
98.4
133.2
166.1
197.2
170.8
178.1

134.1
129.0
104.9
155.2
189.9
200.6
174.3
166.3

138.8
112.0
109.5
157.6
187.8
213.3
167.9
171.7

136.1
131.5
105.5
138.0
174.8
202.5
178.4
172.8

747. Italy-index of stock prices ®
Averaje for period

[1967=100]
1947
1948
1949
1950
1951
1952
1953
1954

26.2
24.6
25.3
28.2
38.9
36.8

27.8
24.3
26.3
29.5
38.3
38.1

27.2
23.1
27.0
30.1
36.6
38.1

26.4
23.8
25.5
28.5
34.7
36.2

23.8
22.9
25.6
28.2
35.4
37.3

21.8
22.3
25.3
29.2
35.0
37.9

22.8
21.4
25.5
30.3
36.1
40.2

23.7
23.3
26.2
31.3
37.7
41.7

23.6
23.6
26.7
31.8
38.0
42.6

23.5
25.9
26.9
33.7
37.5
44.1

23.2
26.0
27.0
35.6
37.3
45.7

23.6
24.8
26.8
36.2
37.4
48.2

27.1
24.0
26.2
29.3
37.9
37.7

24.0
23.0
25.5
28.6
35.0
37.1

23.4
22.8
26.1
31.1
37.3
41.5

23.4
25.6
26.9
35.2
37.4
46.0

24.5
23.8
26.2
31.0
36.9
40.6

1955
1956
1957
1958
1959
1960
1961
1962
1963
1964

52.5
57.0
60.2
61.5
75.0
121.0
157.2
151.8
130.8
110.3

53.0
57.6
61.1
61.7
77.8
119.2
166.6
151.0
121.0
104.2

50.5
55.8
61.6
60.7
81.7
117.1
163.6
153.2
118.8
98.5

50.2
53.1
61.3
59.8
89.5
121.4
164.2
147.3
123.3
89.3

51.6
54.5
62.7
60.6
90.9
128.3
174.2
148.6
123.5
95.3

55.6
51.9
63.9
59.3
94.1
143.2
178.3
138.2
128.1
86.4

59.5
53.8
62.6
59.8
101.9
149.3
165.1
136.1
123.9
84.5

63.3
57.2
64.3
61.7
110.4
175.9
165.8
136.6
120.3
83.8

64.7
55.9
64.7
63.0
103.8
188.7
158.2
131.2
115.5
92.6

63.2
55.9
63.7
65.2
103.5
170.6
163.6
120.0
111.1
92.7

61.9
56.5
62.8
68.9
111.1
153.7
165.0
126.9
115.7
89.6

58.6
57.9
61.1
70.7
114.9
143.0
155.4
136.3
117.7
85.4

52.0
56.8
61.0
61.3
78.2
119.1
162.5
152.0
123.5
104.3

52.5
53.2
62.6
59.9
91.5
131.0
172.2
144.7
125.0
90.3

62.5
55.6
63.9
61.5
105.4
171.3
163.0
134.6
119.9
87.0

61.2
56.8
62.5
68.3
109.8
155.8
161.3
127.7
114.8
89.2

57.0
55.6
62.5
62.7
96.2
144.3
164.8
139.8
120.8
92.7

1965
1966
1967
1968
1969
1970
1971
1972
1973
1974

82.3
108.7
105.4
98.9
99.2
115.3
90.7
77.8
82.4
106.3

87.9
113.2
104.6
96.5
98.1
115.2
93.4
75.4
84.0
108.5

98.0
115.1
94.4
98.4
100.1
115.5
93.0
73.5
92.7
111.9

96.9
106.2
95.3
100.4
111.8
119.5
88.3
78.5
96.4
116.1

95.0
105.4
98.0
99.7
112.9
111.6
84.4
79.2
108.8
106.1

90.3
106.0
96.4
98.0
110.7
106.0
82.8
77.7
124.5
96.5

88.2
107.6
95.7
99.9
107.8
102.8
82.8
80.1
117.7
90.5

92.5
108.6
98.5
101.3
111.8
106.7
81.7
80.1
104.8
88.0

91.1
107.4
102.7
100.3
112.4
102.5
77.7
78.8
106.1
76.3

90.7
110.2
105.8
96.5
119.6
100.8
77.8
80.3
108.6
73.7

90.7
108.7
103.1
93.4
120.3
95.5
74.9
85.4
107.3
79.4

98.0
106.9
99.9
98.4
114.8
94.1
76.7
85.3
96.5
72.3

89.4
112.3
101.5
97.9
99.1
115.3
92.4
75.6
86.4
108.9

94.1
105.9
96.6
99.4
111.8
112.4
85.2
78.5
109.9
106.2

90.6
107.9
99.0
100.5
110.7
104.0
80.7
79.7
109.5
84.9

93.1
108.6
102.9
96.1
118.2
96.8
76.5
83.7
104.1
75.1

91.8
108.7
100.0
98.5
110.0
107.1
83.7
79.3
102.5
93.8

1975
1976
1977
1978
1979
1980
1981
1982

71.4
60.0
52.9
40.7
52.4
59.8
110.0
95.0

79.5
62.6
50.0
43.5
54.8
61.1
122.1
98.8

81.7
58.3
48.7
42.8
57.9
61.1
125.9
104.2

78.3
52.9
46.2
41.4
54.1
61.0
132.4
96.7

77.5
53.6
44.4
43.2
56.8
61.5
135.9
91.0

73.0
56.7
43.4
44.0
58.0
64.8
123.5
83.1

66.1
64.3
43.9
44.8
58.8
66.0
99.1
78.4

64.3
63.9
45.3
48.4
61.7
74.4
112.0
86.1

64.1
59.5
50.3
57.3
63.0
82.7
99.1
85.8

60.2
51.6
46.2
57.5
62.6
93.5
91.2
86.4

58.9
50.3
43.6
51.6
58.6
99.2
93.8
88.8

61.1
55.6
40.0
51.2
55.4
96.0
96.9
91.2

77.5
60.3
50.5
42.3
55.0
60.7
119.3
99.3

76.3
54.4
44.7
42.9
56.3
62.4
130.6
90.3

64.8
62.6
46.5
50.2
61.2
74.4
103.4
83.4

60.1
52.5
43.3
53.4
58.9
96.2
94.0
88.8

69.7
57.4
46.2
47.2
57.8
73.4
111.8
90.5

748. Japar —index of stock prices ®
[1967=100]
1947
1948
1949
1950
1951
1952
1953
1954

Averafe for period

4.6

5.3

5.1

6.4

5.4

10.5

13.4

13.1

10.9

12.0

4.8
9.6
8.8

5.8

5.8

5.2

4.8

5.3

5.3

4.8

5.1

6.1

11.9

12.5

14.3

13.4

12.0

13.4

13.9

12.2

11.1

8.5

7.8

8.1

7.5

8.0

8.9

8.9

8.8

9.2

8.1
9.4
8.5

7.8

8.6

8.8

8.4

14.8
34.6
30.1

10.0
15.8
36.1
30.0

10.7
15.2
30.0
28.0

10.1
16.0
27.3
27.5

10.3
17.6
29.3
27.3

11.1
19.5
28.3
28.0

10.9
20.9
29.9
28.3

11.6
21.4
33.4
28.2

12.2
21.5
35.7
29.4

13.5
24.7
36.2
28.3

13.3
28.0
35.4
26.9

13.3
29.7
34.2
28.1

15.3
33.6
29.4

10.5
17.7
28.3
27.6

11.6
21.3
33.0
28.6

13.4
27.5
35.3
27.8

11.3
20.4
32.5
28.3

1955
1956
1957
1958
1959
1960
1961
1962
1963
1964

30.8
35.5
48.6
41.8
56.2
76.5
102.8
93.7
93.2
88.1

31.2
35.7
48.3
43.5
58.4
78.5
107.6
98.0
97.1
88.4

29.5
36.9
47.4
43.2
61.5
81.0
104.4
93.2
101.9
86.1

29.3
39.3
48.8
44.3
62.7
86.9
108.1
86.9
109.5
83.8

29.2
40.0
45.7
45.4
64.6
85.0
107.6
88.4
109.2
88.4

29.5
41.9
43.8
46.9
67.5
83.6
107.3
89.5
108.1
91.2

29.6
41.4
41.5
46.3
69.4
88.1
112.4
90.9
102.8
92.0

31.4
41.7
42.6
47.1
70.9
90.3
106.7
89.2
94.6
89.5

32.1
40.6
43.8
47.7
74.2
94.6
97.4
85.3
94.0
86.4

33.4
41.3
42.3
50.0
77.9
98.0
70.0
79.0
92.0
82.4

33.4
44.3
41.5
51.4
79.0
99.4
88.9
87.8
88.1
80.7

34.1
46.0
40.4
53.4
76.8
96.3
85.8
91.2
84.1
81.3

30.5
36.0
48.1
42.8
58.7
78.7
104.9
95.0
97.4
87.5

29.3
40.4
46.1
45.5
64.9
85.2
107.7
88.3
108.9
87.8

31.0
41.2
42.6
47.0
71.5
91.0
105.5
88.5
97.1
89.3

33.6
43.9
41.4
51.6
77.9
97.9
81.6
86.0
88.1
81.5

31.1
40.4
44.6
46.8
68.3
88.2
99.9
89.4
97.9
86.5

1965
1966
1967
1968
1969
1970
1971
1972
1973
1974

86.4
96.3
100.8
92.9
124.2
160.6
139.4
187.2
372.1
282.0

86.4
98.5
103.3
94.6
125.6
158.4
145.1
195.6
350.0
296.1

82.1
101.6
103.0
94.8
126.7
165.1
154.4
206.1
349.2
291.6

79.6
101.1
101.1
98.2
131.5
164.6
164.0
221.0
330.8
293.0

79.0
102.5
104.2
101.9
136.6
142.0
165.4
232.0
326.0
303.2

76.5
99.9
105.3
105.0
138.3
142.8
174.7
246.7
325.2
306.0

75.1
99.4
105.3
109.0
135.8
143.7
182.6
262.5
341.3
295.3

82.1
100.5
99.1
114.0
133.2
144.5
171.9
278.6
337.3
270.7

87.2
99.6
96.0
123.4
140.9
141.7
163.2
288.2
320.1
261.1

84.4
98.5
96.5
122.8
144.5
139.7
159.2
297.2
312.2
239.7

88.1
98.2
94.6
117.7
149.3
139.4
160.9
314.7
300.9
245.0

91.7
97.1
90.9
118.3
155.0
134.4
171.1
339.9
273.8
255.5

85.0
98.8
102.4
94.1
125.5
161.4
146.3
196.3
357.1
289.9

78.4
101.2
103.5
101.7
135.5
149.8
168.0
233.2
327.3
300.7

81.5
99.8
100.1
115.5
136.6
143.3
172.6
276.4
332.9
275.7

88.1
97.9
94.0
119.6
149.6
137.8
163.7
317.3
295.6
246.7

83.2
99.4
100.0
107.7
136.8
148.1
162.7
255.8
328.2
278.3

1975
1976
1977
1978
1979
1980
1981
1982

250.1
305.4
343.8
339.0
416.1
420.1
457.9
518.9

271.6
305.2
344.7
348.3
409.9
425.5
458.2
516.9

284.0
309.4
341.3
359.7
405.7
413.0
467.3
486.2

290.5
302.9
339.3
371.8
402.9
417.6
494.6
484.5

298.7
309.1
343.3
371.0
411.1
422.9
502.8
503.4

297.0
319.3
340.7
373.2
402.3
423.8
515.2
489.6

293.0
318.1
339.6
382.8
400.6
424.9
534.4
480.8

280.6
321.8
345.0
380.3
408.0
429.1
540.7
474.3

271.0
321.5
351.2
387.6
412.5
437.6
511.3
481.6

279.5
318.4
345.0
395.0
408.2
447.5
493.8
490.4

286.0
314.2
332.5
398.9
403.4
447.8
505.6
512.7

286.2
330.6
328.6
404.9
410.8
443.5
512.7
528.2

268.6
306.7
343.3
349.0
410.6
419.5
461.1

295.4
310.4
341.1
372.0
405.4
421.4
504.2
492.5

281.5
320.5
345.3
383.6
407.0
430.5
528.8
478.9

283.9
321.1
335.4
399.6
407.5
446.3
504.0
510.4

282.4
314.7
341.2
376.0
407.6
429.4
499.5
497.3

3.3
10.1

8.2
8.9

130



8.5
9.9

1 507.3

Year

Jan.

Feb.

Mar.

Apr.

May

Monthly
June
July

Aug.

19. United States—index of stock prices, 500 common stocks ® '
[1967=100]
15.9
15.6
16.1
17.2
16.8
16.8
17.6
18.3
17.9
17.3
16.2
16.1
15.2
16.1
16.6
19.4
20.1
20.4
18.9
20.0
23.8
23.9
23.4
23.9
24.9
25.8
25.8
26.5
27.3
27.4
26.9
27.0
26.1
26.4
26.5
30.1
31.3
31.5
32.8
33.4

Sept.

Oct.

Nov.

16.4
17.1
16.9
20.8
25.5
27.0
25.3
34.2

16.8
17.6
17.3
21.6
25.4
26.4
26.1
35.0

16.6
16.6
17.5
21.6
24.7
27.2
26.7
36.4

16.3
16.5
18.0
21.5
25.5
28.3
27.0
38.0

Quarterly
IIQ
III 0

IV Q

mmm

16.7
15.7
16.3
18.7
23.5
26.0
28.3
28.3

15.9
17.6
15.8
20.0
23.7
26.0
26.7
31.0

Average for period
16.8
17.4
16.5
19.9
24.8
27.2
26.1
33.5

16.6
16.9
17.6
21.6
25.2
27.3
26.6
36.5

16.5
16.9
16.6
20.0
24.3
26.6
26.9
32.3

49.4
50.5
43.9
58.2
64.2
61.8
78.0
68.1
80.7
91.3

39.5
49.3
48.2
45.1
60.4
61.2
67.5
76.0
71.3
84.4

41.8
51.1
50.5
47.4
62.5
61.0
71.8
67.7
75.8
87.4

46.9
52.3
50.2
51.7
63.9
60.6
72.7
62.9
77.2
90.1

48.0
50.2
44.2
56.9
62.8
60.2
76.4
64.8
79.7
92.2

44.0
50.7
48.3
50.3
62.4
60.8
72.1
67.9
76.0
88.5

100.2
88.1
100.8
114.7
104.7
91.7
100.9
125.2
111.0
78.0

99.8
88.5
103.7
115.8
99.1
98.0
107.9
127.8
103.1
73.0

94.2
99.7
94.7
99.7
109.8
96.5
105.2
114.7
125.1
104.1

95.1
95.9
99.7
106.7
110.6
86.1
110.4
117.7
116.8
98.6

94.6
88.6
102.7
108.7
102.7
85.7
107.2
118.8
114.3
82.3

99.8
86.8
102.9
114.5
102.6
93.8
104.9
124.1
111.0
75.5

95.9
92.7
100.0
107.4
106.4
90.5
106.9
118.8
116.8
90.1

98.0
110.1
102.6
103.3
112.8
147.6
133.7
150.2

96.5
113.8
102.1
104.5
117.2
145.2
134.7
151.6

85.7
108.3
110.7
97.2
108.1
120.0
143.1
124.3

96.9
110.5
107.7
104.3
110.1
117.9
144.5
124.3

95.3
113.5
106.7
110.6
115.5
134.1
136.7
123.8

96.9
111.6
102.2
105.7
114.5
144.8
132.9
148.7

93.7
111.0
106.8
104.5
112.1
129.2
139.3
130.3

1947
1948
1949
1950
1951
1952
1953
1954

16.5
16.1
16.7
18.4
23.1
26.3
28.5
27.7

17.2
15.3
16.1
18.7
23.9
25.8
28.1
28.3

16.5
15.6
16.2
18.9
23.5
25.9
28.3
28.9

1955
1956
1957
1958
1959
1960
1961
1962
1963
1964

38.7
48.0
49.4
44.7
60.5
63.1
65.0
75.1
70.8
83.2

40.0
48.3
47.3
44.9
59.6
60.7
67.6
76.4
71.7
84.2

39.7
51.7
47.9
45.8
61.1
59.9
69.8
76.5
71.4
85.7

41.1
52.3
49.0
46.1
62.1
60.6
71.6
74.0
74.8
87.0

40.9
50.6
50.9
47.5
63.0
60.1
J2.3
68.5
76.3
87.8

43.3
50.3
51.7
48.7
62.5
62.3
71.4
60.5
76.3
87.3

46.4
53.1
52.8
50.0
65.0
60.7
71.2
62.0
75.1
90.5

46.2
52.7
49.9
51.9
64.6
61.5
73.7
63.7
77.2
89.2

48.2
51.0
47.8
53.3
62.1
59.6
73.2
63.1
79.2
90.7

45.8
50.3
44.9
55.4
62.0
58.4
74.0
61.1
79.4
92.3

48.9
49.8
43.9
57.1
62.3
60.3
77.3
65.3
79.0
92.9

1965
1966
1967
1968
1969
1970
1971
1972
1973
1974

93.7
101.5
91.9
103.4
111.0
98.2
101.7
112.4
128.8
104.5

94.4
100.8
95.0
98.7
110.4
94.8
105.6
114.5
124.2
101.7

94.5
96.7
97.3
96.9
108.0
96.4
108.3
117.1
122.3
106.0

95.7
99.6
98.9
104.1
110.2
93.5
112.1
118.4
120.0
100.6

97.1
94.4
100.7
106.5
113.8
82.7
110.6
117.1
116.6
97.5

92.5
93.6
99.5
109.4
107.8
82.2
108.5
117.5
113.9
97.7

92.4
93.4
101.2
109.1
103.0
82.4
107.7
116.6
115.1
90.1

94.1
87.7
102.8
106.7
102.4
84.8
105.8
120.8
112.9
82.7

97.2
84.6
104.2
110.2
102.8
89.8
108.1
119.0
114.9
74.1

99.4
83.9
104.1
112.9
103.9
91.8
105.8
119.2
118.9
75.5

1975
1976
1977
1978
1979
1980
1981
1982

78.9
105.4
112.9
98.2
108.5
120.6
144.6
127.6

87.1
109.5
109.8
96.8
106.9
125.5
139.7
124.6

91.1
110.0
109.4
96.6
108.9
113.9
144.9
120.6

92.2
110.9
107.7
100.8
111.0
112.0
146.2
126.5

93.2
112.4
106.3
113.0
116.8
134.3
141.0
119.3

92.1
114.7
104.7
113.0
118.1
137.6
128.7
133.2

96.3
110.8
102.0
109.4
113.6
141.7
130.3
144.3

98.0
100.5
100.6
110.0
110.7
113.3
107.4
108.0
109.0
106.0
106.2
105.7
1(8.5
110.7
111.7
117.1
124.6
130.4
143.3
143.9
140.5
126.6
119.7
119.0
910. Composite index of 12 leadmg Mcators
[1967=100]

10

Dec.

!
1
1

Average for period

1947
1948
1949
1950
1951
1952
1953
1954

52.8
48.2
52.2
58.7
55.5
59.7
55.6

51.3
47.8
53.0
58.2
55.6
59.8
56.1

51.5
47.4
53.3
57.9
55.8
60.1
56.1

52.1
46.8
54.4
56.7
55.4
59.7
56.7

51.7
47.0
55.4
56.3
55.9
59.1
57.3

52.0
46.8
56.3
55.1
57.1
58.1
57.9

52.0
47.7
58.6
54.5
56.8
58.2
58.7

51.1
48.9
59.9
54.1
57.5
57.3
58.4

50.2
50.6
59.2
54.7
59.2
55.9
59.7

50.1
50.8
58.4
54.9
58.7
55.8
60.9

49.3
51.1
57.5
54.9
58.9
55.3
62.3

48.9
51.4
57.6
55.4
59.1
55.4
63.1

1955
1956
1957
1958
1959
1960
1961
1962
1963
1964

64.1
67.0
65.4
62.2
71.4
72.9
70.9
78.8
81.6
87.2

65.2
66.7
65.3
61.6
72.3
72.1
71.4
79.9
82.4
88.2

66.0
67.1
65.3
62.0
73.7
70.8
72.7
80.0
83.2
88.4

66.1
67.4
64.8
62.2
74.0
70.9
73.9
79.6
83.9
89.3

66.5
66.3
65.0
63.4
74.2
11.0
74.8
78.7
84.7
90.2

66.7
66.0
65.3
64.7
73.7
71.1
75.7
77.9
84.5
89.9

67.4
66.4
65.2
66.2
73.4
71.4
75.7
78.7
84.3
90.8

67.5
66.5
65.1
67.5
73.1
71.4
76.7
79.3
84.7
91.5

67.9
66.3
64.2
68.7
73.3
71.5
76.4
79.9
85.7
92.7

67.1
66.4
63.5
69.4
72.7
71.2
77.5
80.0
86.3
92.8

67.5
66.4
62.7
70.4
71.9
70.8
78.5
80.8
86.5
93.1

67.2
66.0
62.1
70.1
73.2
70.4
78.8
81.0
86.7
93.7

1965
1966
1967
1968
1969
1970
1971
1972
1973
1974

94.5
99.9
97.4
104.4
112.2
107.5
108.6
119.2
132.4
128.7

94.8
100.8
97.0
105.5
112.1
106.6
110.2
120.7
134.1
128.0

95.2
101.9
96.9
105.7
111.7
105.5
111.9
122.2
134.2
127.8

95.0
101.5
97.1
104.7
112.7
104.5
112.9
123.0
133.4
126.1

95.6
100.2
97.9
105.4
112.2
105.1
113.7
122.9
133.5
125.5

95.3
99.4
99.2
106.0
111.2
105.5
113.5
123.3
133.1
123.8

95.5
99.1
100.1
106.9
110.2
104.8
113.3
124.4
132.7
123.5

95.8
98.3
101.9
106.5
110.3
104.7
113.7
126.0
131.5
120.3

96.4
97.3
102.3
108.1
110.8
104.9
114.6
127.5
130.9
116.5

97.0
96.7
102.5
110.3
110.7
104.4
115.5
129.4
131.0
113.5

98.0
96.5
103.2
110.8
109.5
105.0
116.5
130.3
131.1
111.2

1975
1976
1977
1978
1979
1980
1981
1982

107.7
126.1
134.5
141.0
147.7
141.4
142.1
135.1

107.6
128.0
136.5
142.8
147.5
140.4
140.4
135.7

107.8
111.0
113.4
115.8
118.2
119.0
128.8
129.3
130.5
131.6
132.2
131.9
138.4
138.5
138.9
139.8
138.5
140.5
144.9
146.3
146.4
146.9
145.4
146.2
149.3
146.4
147.6
146.5
145.2
144.5
137.4
133.4
130.9
132.0
135.1
138.3
141.7
144.6
144.5
143.2
142.9
142.4
134.7
136.0
136.2
135.5
136.2
136.2
910c. Change h composite index of 12 leadhf indicators over 1-month spans4
[Annual rate, percent]

120.6
132.4
141.1
146.8
144.5
141.2
139.3
137.6

122.0
132.2
141.9
147.9
141.7
142.4
136.9
138.6

122.4
133.5
141.6
147.6
140.1
143.4
137.0
139.4

51.9
47.8
52.8
58.3
55.6
59.9
55.9

51.9
46.9
55.4
56.0
56.1
59.0
57.3

51.1
49.1
59.2
54.4
57.8
57.1
58.9

49.4
51.1
57.8
55.1
58.9
55.5
62.1

51.1
48.7
56.3
56.0
57.1
57.9
58.6

65.1
66.9
65.3
61.9
72.5
71.9
71.7
79.6
82.4
87.9

66.4
66.6
65.0
63.4
74.0
71.0
74.8
78.7
84.4
89.8

67.6
66.4
64.8
67.5
73.3
71.4
76.3
79.3
84.9
91.7

67.3
66.3
62.8
70.0
72.6
70.8
78.3
80.6
86.5
93.2

66.6
66.5
64.5
65.7
73.1
71.3
75.2
79.6
84.5
90.6

99.1
96.4
104.4
111.5
109.1
107.3
118.0
131.4
128.7
109.2

94.8
100.9
97.1
105.2
112.0
106.5
110.2
120.7
133.6
128.2

95.3
100.4
98.1
105.4
112.0
105.0
113.4
123.1
133.3
125.1

95.9
98.2
101.4
107.2
110.4
104.8
113.9
126.0
131.7
120.1

98.0
96.5
103.4
110.9
109.8
105.6
116.7
130.4
130.3
111.3

96.0
99.0
100.0
107.2
111.1
105.5
113.5
125.0
132.2
121.2

122.8
134.5
142.4
147.2
140.5
143.0
136.2
140.9

107.7
127.6
136.5
142.9
148.2
139.7
141.4
135.2

113.4
130.5
139.1
146.5
146.8
132.1
144.1
135.9

119.3
132.2
140.0
146.1
144.7
138.2
141.5
136.7

122.4
133.4
142.0
147.6
140.8
142.9
136.7
139.6

115.7
130.9
139.4
145.8
145.1
138.2
140.9
136.8

i
!

!

Average for period

1947
1948
1949
1950
1951
1952
1953
1954

-15.9
20.4
25.5
2.2
12.9
4.4

-29.2
-9.5
20.0
-9.8
2.2
2.0
11.3

4.8
-9.6
7.0
-6.0
4.4
6.2
0

14.9
-14.2
27.8
-22.2
-8.3
-7.7
13.6

-8.8
5.3
24.4
-8.1
11.4
-11.4
13.5

7.2
-5.0
21.3
-22.8
29.0
-18.5
13.3

0
25.7
61.7
-12.3
-6.1
2.1
17.9

-18.9
34.7
30.1
-8.5
15.8
-17.1
-6.0

-19.2
50.7
-13.2
14.2
41.9
-25.7
30.2

-2.4
4.8
-15.1
4.5
-9.7
-2.1
27.0

-17.6
7.3
-17.0
0
4.2
-10.2
31.4

-9.3
7.3
2.1
11.5
4.2
2.2
16.5

-11.7
15.8
3.2
2.9
7.0
5.2

4.4
-4.6
24.5
-17.7
10.7
-12.5
13.5

-12.7
37.0
26.2
-2.2
17.2
-13.6
14.0

-9.8
6.5
-10.0
5.3
-.4
-3.4
25.0

6.8
14.1
-2.8
7.6
-5.6
14.4

1955
1956
1957
1958
1959
1960
1961 .
1962
1963
1964

20.8
-3.5
-10.4
1.9
24.7
-4.8
8.9
0
9.3
7.1

22.7
-5.2
-1.8
-11.0
16.2
-12.4
8.8
18.1
12.4
14.7

15.8
7.4
0
8.1
25.9
-19.6
24.2
1.5
12.3
2.8

1.8
5.5
-8.8
3.9
5.0
1.7
21.7
-5.8
10.6
12.9

7.5
-17.9
3.8
25.8
3.3
1.7
15.6
-12.8
12.1
12.8

3.7
-5.3
5.7
27.6
-7.8
1.7
15.4
-11.5
-2.8
-3.9

13.3
7.5
-1.8
31.7
-4.8
5.2
0
13.0
-2.8
12.7

1.8
1.8
-1.8
26.3
-4.8
0
17.1
9.5
5.8
9.7

7.3
-3.5
-15.4
23.5
3.3
1.7
-4.6
9.5
15.1
16.9

-13.3
1.8
-12.3
12.9
-9.4
-4.9
18.7
1.5
8.7
1.3

7.4
0
-14.1
18.7
-12.4
-6.5
16.6
12.7
2.8
3.9

-5.2
-7.0
-10.9
-5.0
24.0
-6.6
4.7
3.0
2.8
8.0

19.8
-.4
-4.1
-.3
22.3
-12.3
14.0
6.5
11.3
8.2

4.3
-5.9
.2
19.1
.2
1.7
17.6
-10.0
6.6
7.3

7.5
1.9
-6.3
27.2
-2.1
2.3
4.2
10.7
6.0
13.1

-3.7
-1.7
-12.4
8.9
.7
-6.0
13.3
5.7
4.8
4.4

7.0
-1.5
-5.6
13.7
5.3
-3.6
12.3
3.2
7.2
8.2

10.7
10.1
13.2
0
7.8
-16.2
15.5
12.9
9.5
0

3.9
11.4
-4.8
13.4
-1.1
-9.6
19.2
16.2
16.5
-6.3

5.2
13.9
-1.2
2.3
-4.2
-11.7
20.2
16.0
.9
-1.9

-2.5
-4.6
2.5
-10.8
11.3
-10.8
11.3
8.1
-6.9
-14.8

7.8
-14.3
10.3
8.3
-5.2
7.1
8.8
-1.0
.9
-5.6

-3.7
-9.2
17.2
7.0
-10.2
4.7
-2.1
4.0
-3.5
-15.1

2.5
-3.6
11.4
10.7
-10.3
-7.7
-2.1
11.2
-3.5
-2.9

3.8
-9.3
23.8
-4.4
1.1
-1.1
4.3
16.6
-10.3
-27.0

7.8
-11.5
4.8
19.6
5.6
2.3
9.9
15.3
-5.3
-32.0

7.7
-7.2
2.4
27.3
-1.1
-5.6
9.8
19.4
.9
-26.9

13.1
-2.5
8.5
5.6
-12.3
7.1
10.9
8.7
.9
-21.8

14.3
-1.2
14.9
7.9
-4.3
29.7
16.6
10.6
-19.9
-19.6

6.6
11.8
2.4
5.2
.8
-12.5
18.3
15.0
9.0
-2.7

.5
-9.4
10.0
1.5
-1.4
.3
6.0
3.7
-3.2
-11.8

4.7
-8.1
13.3
8.6
-1.2
-2.2
4.0
14.4
-6.4
-20.6

11.7
-3.6
8.6
13.6
-5.9
10.4
12.4
12.9
-6.0
-22.8

5.9
-2.3
8.6
7.2
-1.9
-1.0
10.2
11.5
-1.6
-14.5

1975
-15.3
-1.1
1976
37.5
19.7
1977
0
19.4
1978
-11.2
16.4
1979
4.2
-1.6
1980
8.0
-8.2
1981
-7.3
-13.4
1982
-9.3
5.5
See footnotes at end of this part

2.3
7.8
18.0
19.1
15.7
-22.8
11.7
-8.5

42.1
4.8
.9
12.2
-21.0
-29.8
27.5
12.2

29.3
11.7
3.5
.8
10.3
-20.3
-.8
1.8

28.6
10.6
8.1
4.2
-8.6
10.6
-10.3
-6.0

27.9
5.6
-10.6
-11.6
-10.1
32.1
-2.5
6.4

8.4
-2.7
18.8
6.8
-5.6
32.4
-4.1
0

17.4
4.6
5.2
5.0
0
28.3
-23.2
13.1

14.9
-1.8
7.0
9.4
-20.9
10.7
-18.8
9.1

4.0
12.5
-2.5
-2.4
-12.7
8.8
.9
7.2

4.0
9.4
7.0
-3.2
3.5
-3.3
-6.8
13.7

-4.7
21.7
12.5
8.1
6.1
-7.7
-3.0
-4.1

33.3
9.0
4.2
5.7
-6.4
-13.2
5.5
2.7

17.9
2.5
4.5
.1
-5.2
30.9
-9.9
6.5

7.6
6.7
3.8
1.3
-10.0
5.4
-8.2
10.0

13.5
10.0
6.2
3.8
-3.9
3.9
-3.9
3.8

1965
1966
1967
1968
1969
1970
1971
1972
1973
1974

.

.




131

Year

Quarterly

Monthly
Jan.

Feb.

Mar.

Apr.

May

June

July

Aug.

Sept.

Oct.

Nov.

Dec.

IQ

HQ

Annual

HI Q

IVQ

4

910c. Change in composite index of 12 leading indicators over 3-month spans
[Annual rate, percent]
1947
1948
1949
1950
1951
1952
1953
1954

-11.6
15.7
5.0
5.2
6.3
5.9

1955
1956
1957
1958
1959
1960
1961
1962
1963
1964

Average for period

-11.7
15.6
2.1
2.9
6.9
5.2

-5.2
-11.1
18.0
-12.9
-.7
0
8.2

3.2
-6.5
19.4
-12.4
2.2
-4.6
8.8

3.9
-5.0
24.5
-18.0
9.6
-12.7
13.5

-0.8
7.9
34.6
-14.6
10.5
-9.7
14.9

-4.6
17.2
36.7
-14.7
12.0
-11.6
7.9

-13.1
36.7
22.3
-2.9
15.5
-14.3
13.0

-13.8
28.6
-1.4
3.0
14.1
-15.5
15.9

-13.4
19.2
-15.1
6.0
10.1
-13.2
29.5

-10.0
6.5
-10.4
5.2
-.7
-3.5
24.8

-14.3
11.5
2.1
4.4
7.0
-1.4
22.7

-11.5
16.4
-1.9
2.5
4.4
6.4

2.1
-1.2
26.2
-15.0
7.4
-9.0
12.4

-10.5
27.5
19.2
-4.9
13.9
-13.8
12.3

-12.6
12.4
-7.8
5.2
5.5
-6.0
25.7

6.8
13.5
-4.1
7.3
-6.1
14.2

20.0
-4.7
-6.5
-6.8
11.2
1.1
3.4
7.3
8.2
8.1

19.7
-.6
-4.2
-.6
22.2
-12.5
13.7
6.2
11.3
8.1

13.1
2.4
-3.6
0
15.4
-10.5
18.0
4.1
11.8
10.0

8.2
-2.4
-1.8
12.2
10.9
-6.0
20.5
-5.9
11.6
9.4

4.3
-6.4
0
18.6
0
1.7
17.6
-10.1
6.4
7.0

8.1
-5.8
2.5
28.3
-3.2
2.9
10.1
-4.4
1.9
6.9

6.2
1.2
.6
28.5
-5.8
2.3
10.6
3.1
0
5.9

7.4
1.8
-6.6
27.1
-2.2
2.3
3.8
10.7
5.8
13.1

-1.8
0
-10.0
20.8
-3.8
-1.1
9.9
6.8
9.8
9.1

0
-.6
-14.0
18.3
-6.4
-3.3
9.7
7.8

-4.1
-1.8
-12.5
8.4
-.5
-6.0
13.2
5.6
4.7
4.4

-.6
-5.9
-7.9
12.0
1.1
-1.7
6.9
8.2
4.2
7.5

17.6
-1.0
-4.8
-2.5
16.3
-7.3
11.7
5.9
10.4
8.7

6.9
-4.9
.2
19.7
2.6
-.5
16.1
-6.8
6.6
7.8

3.9
1.0
-5.3
25.5
-3.9
1.2
8.1
6.9
5.2
9.4

-1.6
-2.8
-11.5
12.9
-1.9
-3.7
9.9
7.2
5.9
6.4

6.7
-1.9
-5.3
13.9
3.2
-2.6
11.4
3.3
7.0
8.1

1965
1966
1967
1968
1969
1970
1971
1972
1973
1974

7.5
11.9
2.1
9.2
4.8
-10.2
21.3
15.2
12.2
-9.1

6.6
11.8
2.1
5.1
.7
-12.6
18.3
15.0
8.8
-2.8

2.1
6.6
-1.2
1.2
1.8
-10.7
16.8
13.4
3.1
-7.8

3.4
-2.4
3.8
-.4
.4
-5.5
13.3
7.5
-1.8
-7.6

.4
-9.5
9.8
1.1
-1.8
0
5.8
3.6
-3.2
-11.9

2.1
-9.1
12.9
8.7
-8.6
1.2
1.4
4.6
-2.1
-8.0

.8
-7.4
17.4
4.2
-6.6
-1.5
0
10.5
-5.9
-15.6

4.7
-8.2
13.1
8.2
-1.4
-2.3
3.9
14.3
-6.4
-21.6

6.4
-9.3
9.9
13.3
1.8
-1.5
8.0
17.1
-5.0
-28.7

9.5
-7.1
5.2
17.2
-2.9
1.2
10.2
14.4
-1.2
-27.0

11.7
-3.6
8.5
13.2
-6.0
9.5
12.4
12.8
-6.6
-22.8

12.5
2.9
7.6
7.1
-11.1
17.1
13.4
9.6
-6.8
-18.9

5.4
10.1
1.0
5.2
2.4
-11.2
18.8
14.5
8.0
-6.6

2.0
-7.0
8.8
3.1
-3.3
-1.4
6.8
5.2
-2.4
-9.2

4.0
-8.3
13.5
8.6
-2.1
-1.8
4.0
14.0
-5.8
-22.0

11.2
-2.6
7.1
12.5
-6.7
9.3
12.0
12.3
-4.9
-22.9

5.6
-1.9
7.6
7.3
-2.4
-1.3
10.4
11.5
-1.2
-15.1

1975
1976
1977
1978
1979
1980
1981
1982

-12.3
19.6
9.3
3.4
-.3
9
-8.1
-3.7

-5.0
21.0
12.1
7.2
5.8
-8.5
-3.6
-2.9

12.8
10.5
12.4
15.9
-3.5
-20.8
7.2
2.7

23.4
8.0
7.2
10.5
.3
-24.4
12.2
1.5

33.2
9.0
4.1
5.6
-7.3
-14.8
4.3
2.4

28.6
9.3
0
-2.4
-3.2
5.2
-4.6
.6

21.3
4.4
4.7
-.5
-8.1
24.6
-5.7
0

17.6
2.5
3.8
-.3
-5.3
30.9
-10.5
6.3

13.5
0
10.2
7.1
-9.3
23.4
-15.8
7.2

11.9
4.9
3.2
3.9
-11.6
15.6
-14.3
9.7

7.5
6.5
3.7
1.1
-10.6
5.2
-8.6
9.9

14.1
7.1
-2.5
-.5

-1.5
17.0
11.3
8.8
.7
-9.5
-1.5
-1.3

3.8
4.6
-3.4
-11.3
4.0
1.5

17.5
2.3
6.2
2.1
-7.6
26.3
-10.7
4.5

11.2
6.2
1.5
1.5
-7.7
6.7
-9.4
13.2

13.9
8.6
5.7
4.2
-4.5
3.0
-4.4
4.5

-5.2
20.1

913. Composite index of marginal employment adjustments
[1967=100]

Average for period

1947
1948
1949
1950
1951
1952
1953
1954

102.6
94.1
96.8
104.3
101.3
104.1
93.5

101.3
94.4
96.6
104.1
101.5
104.0
93.5

101.3
92.9
98.1
104.6
101.1
103.8
93.4

101.4
92.0
99.1
103.6
99.6
103.7
93.0

100.6
92.4
100.4
102.5
100.8
102.3
93.8

101.9
93.4
100.9
101.5
100.1
101.9
94.7

101.5
93.7
102.8
99.8
96.3
100.9
95.3

100.2
93.5
105.5
98.7
102.6
99.4
94.4

99.8
95.1
103.8
99.2
104.3
97.4
94.6

100.0
93.3
103.5
99.3
104.5
96.4
95.9

99.0
93.5
102.2
100.4
104.2
94.4
97.6

96.9
97.1
102.2
101.1
103.8
94.4
97.7

101.7
93.8
97.2
104.3
101.3
104.0
93.5

101.3
92.6
100.1
102.5
100.2
102.6
93.8

100.5
94.1
104.0
99.2
101.1
99.2
94.8

98.6
94.6
102.6
100.3
104.2
95.1
97.1

100.5
93.8
101.0
101.6
101.7
100.2
94.8

1955
1956
1957
1958
1959
1960
1961
1962
1963
1964

98.4
99.8
98.6
90.7
97.2
98.6
92.6
96.9
96.4
96.9

99.4
98.4
98.5
89.8
97.9
97.1
91.9
97.2
96.9
97.6

100.1
98.7
98.5
89.4
98.9
95.1
94.2
97.8
97.1
97.6

100.3
99.5
97.3
89.7
99.0
95.1
94.9
98.0
96.7
98.6

100.6
97.5
96.4
91.3
98.9
95.2
94.9
97.3
97.2
98.3

99.4
98.2
97.3
92.8
98.1
94.7
95.6
96.9
97.5
98.4

99.1
97.8
96.7
93.7
97.5
94.4
95.4
97.1
97.6
98.8

99.5
98.6
95.9
94.4
97.0
93.9
96.5
96.3
96.9
99.4

100.7
98.7
94.1
94.8
96.8
94.0
94.7
97.0
97.4
98.4

100.4
100.0
93.2
95.3
94.6
93.2
97.1
96.1
97.6
98.6

101.0
99.1
92.2
95.9
94.9
92.7
97.4
96.6
97.2
98.6

100.4
99.3
91.1
95.8
98.9
91.4
97.2
96.3
97.3
99.2

99.3
99.0
98.5
90.0
98.0
96.9
92.9
97.3
96.8
97.4

100.1
98.4
97.0
91.3
98.7
95.0
95.1
97.4
97.1
98.4

99.8
98.4
95.6
94.3
97.1
94.1
95.5
96.8
97.3
98.9

100.6
99.5
92.2
95.7
96.1
92.4
97.2
96.3
97.4
98.8

99.9
98.8
95.8
92.8
97.5
94.6
95.2
97.0
97.2
98.4

1965
1966
1967
1968
1969
1970
1971
1972
1973
1974

100.0
102.1
101.3
100.0
102.3
99.2
96.5
98.9
101.3
99.0

100.0
102.7
99.4
101.2
101.6
98.3
96.5
99.2
102.4
98.7

100.6
103.8
98.6
101.4
102.3
97.4
96.5
99.5
101.9
98.8

99.7
103.5
98.9
100.4
102.4
96.0
96.7
99.8
101.7
97.9

100.3
103.1
99.5
101.6
102.0
96.3
96.7
99.4
101.3
99.1

100.4
102.5
99.9
101.5
102.0
96.6
97.0
98.7
101.0
98.2

100.2
102.0
99.7
101.3
101.5
97.7
96.9
98.8
100.5
98.1

99.6
102.8
100.3
101.1
101.2
96.3
95.7
100.2
100.3
97.0

100.5
103.0
100.4
101.6
101.4
95.2
95.9
100.3
101.1
96.5

101.1
102.5
100.2
102.1
100.9
94.7
96.9
100.5
101.1
94.9

101.6
101.9
100.8
102.2
100.3
94.9
97.5
101.1
101.0
92.0

102.1
101.0
101.1
102.0
100.4
95.9
98.6
101.1
99.8
91.1

100.2
102.9
99.8
100.9
102.1
98.3
96.5
99.2
101.9

100.1
103.0
99.4
101.2
102.1
96.3
96.8
99.3
101.3
98.4

100.1
102.6
100.1
101.3
101.4
96.4
96.2
99.8
100.6
97.2

101.6
101.8
100.7
102.1
100.5
95.2
97.7
100.9
100.6
92.7

100.5
102.6
100.0
101.4
101.5
96.5
96.8
99.8
101.1
96.8

1975
1976
1977
1978
1979
1980
1981
1982...:

90.0
97.9
95.9
97.6
98.5
96.3
94.2

89.7
98.1
96.6
97.2
98.4
96.4
94.1

90.1
97.6
98.0
98.3
98.0
94.5
94.1

91.7
96.1
97.3
99.0
94.6
90.3
94.9

91.4
96.5
97.1
98.0
97.3
88.3
94.2

92.5
96.1
97.2
97.8
96.7
89.6
94.5

94.5
96.1
96.7
97.4
96.4
91.7
95.0

94.5
95.5
96.2
97.3
96.0
92.2
93.6

94.3
95.0
97.0
98.5
96.4
92.9
91.4

95.0
95.1
97.4
98.7
96.6
93.6
90.5

95.6
96.1
98.0
98.8
96.1
94.2
90.3

97.0
96.9
98.7
99.1
96.3
94.5
89.3

89.9
97.9
96.8
97.7
98.3
95.7
94.1

91.9
96.2
97.2
98.3
96.2
89.4
94.5

914. Composite index of capital investment commitments
[1967 = 100]

94.4
95.5
96.6
97.7
96.3
92.3
93.3

95.9
96.0
98.0
98.9
96.3
94.1
90.0

93.0
96.4
97.2
98.1
96.8
92.9
93.0

Average for period

1947
1948
1949
1950
1951
1952
1953
1954

100.3
90.7
94.6
97.9
94.4
96.6
92.9

99.0
90.3
95.6
96.5
95.7
96.8
92.6

98.2
89.9
96.3
95.5
95.5
96.2
92.1

99.6
89.6
97.2
94.6
94.7
96.1
92.8

98.0
89.8
97.6
96.2
94.8
95.6
93.2

98.2
90.2
97.9
94.2
95.6
93.9
93.9

96.7
89.5
99.5
93.7
95.7
94.7
94.6

95.1
90.4
99.2
93.7
96.0
93.8
94.7

93.9
92.7
97.0
94.9
98.1
93.4
95.5

94.3
92.6
96.1
93.8
96.5
94.2
96.7

92.8
93.9
96.1
94.0
96.1
93.1
97.2

93.0
94.5
97.9
94.3
96.6
93.1
97.2

99.2
90.3
95.5
96.6
95.2
96.5
92.5

98.6
89.9
97.6
95.0
95.0
95.2
93.3

95.2
90.9
98.6
94.1
96.6
94.0
94.9

93.4
93.7
96.7
94.0
96.4
93.5
97.0

96.6
91.2
97.1
94.9
95.8
94.8
94.4

1955
1956
1957
1958
1959
1960
1961
1962
1963
1964

98.5
98.1
95.2
92.5
97.6
97.5
93.6
96.1
97.1
99.3

99.9
98.1
95.3
91.3
98.2
97.2
94.0
97.2
97.3
99.9

99.6
97.9
95.4
91.8
99.8
95.8
94.2
96.7
97.6
99.3

99.3
98.3
94.4
92.2
98.8
96.7
94.6
97.3
97.5
99.3

99.2
97.9
94.6
93.4
98.9
96.5
94.7
96.5
98.5
100.4

99.3
97.4
94.8
94.4
98.4
95.7
95.4
96.3
98.2
99.8

99.1
97.0
94.1
94.9
98.3
96.0
95.7
96.6
98.0
99.6

99.0
96.4
94.4
96.2
97.8
95.5
95.9
96.8
98.4
99.8

99.2
96.0
93.6
96.8
97.9
95.3
95.2
97.1
99.0
100.3

98.5
96.2
93.5
96.8
97.3
95.0
95.8
96.9
99.2
100.3

98.4
96.3
93.0
97.8
97.2
94.1
96.7
97.3
99.0
100.2

98.3
95.8
92.4
96.8
97.9
94.1
96.3
97.4
99.6
100.2

99.3
98.0
95.3
91.9
98.5
96.8
93.9
96.7
97.3
99.5

99.3
97.9
94.6
93.3
98.7
96.3
94.9
96.7
98.1
99.8

99.1
96.5
94.0
96.0
98.0
95.6
95.6
96.8
98.5
99.9

98.4
96.1
93.0
97.1
97.5
94.4
96.3
97.2
99.3
100.2

99.0
97.1
94.2
94.6
98.2
95.8
95.2
96.8
98.3
99.9

1965
1966
1967
1968
1969
1970
1971
1972
1973
1974

100.5
102.2
97.5
102.8
107.9
105.1
105.0
110.3
112.7
107.1

100.2
101.8
97.2
104.0
108.5
105.1
104.9
110.3
113.0
107.6

100.4
102.2
97.9
105.4
107.5
104.1
106.4
110.8
112.6
108.0

99.8
101.1
98.1
103.2
108.5
104.1
106.4
111.2
111.5
107.6

100.1
100.3
99.0
102.5
107.5
104.1
107.6
111.2
111.8
107.1

100.5
99.3
100.3
103.0
107.2
103.4
108.7
110.8
112.1
106.5

100.7
99.3
100.4
104.8
106.7
103.3
108.4
111.8
111.3
107.0

100.4
98.2
101.5
105.4
106.7
103.2
108.6
111.7
111.0
105.2

100.6
97.5
101.5
105.9
106.7
103.7
108.6
113.4
109.8
103.3

100.8
97.0
101.5
107.9
106.4
103.8
108.6
113.4
108.8
101.1

101.2
96.0
102.3
106.3
105.6
104.6
109.5
113.0
109.4
99.7

101.7
96.2
102.6
107.3
105.8
105.9
110.2
113.6
107.4
100.8

100.4
102.1
97.5
104.1
108.0
104.8
105.4
110.5
112.8
107.6

100.1
100.2
99.1
102.9
107.7
103.9
107.6
111.1
111.8
107.1

100.6
98.3
101.1
105.4
106.7
103.4
108.5
112.3
110.7
105.2

101.2
96.4
102.1
107.2
105.9
104.8
109.4
113.3
108.5
100.5

100.6
99.3
100.0
104.9
107.1
104.2
107.7
111.8
111.0
105.1

1975
1976
1977
1978
1979
1980
1981
1982

98.4
106.7
110.5
113.6
114.1
113.3
110.7
104.2

97.9
106.5
111.2
114.8
114.6
111.8
109.3
104.2

97.8
106.6
111.9
115.0
116.9
109.5
109.8
104.0

100.2
106.5
111.7
115.6
115.0
107.1
110.5
104.9

101.4
106.0
112.5
115.2
115.1
106.9
109.3
104.2

103.3
107.6
113.5
116.1
114.5
108.7
107.3
102.9

104.6
108.3
112.4
115.6
114.4
110.2
107.1
103.9

104.6
107.5
114.2
114.9
114.2
110.8
107.0
103.0

104.2
109.3
113.7
115.4
115.3
111.8
106.3
103.5

104.2
109.6
114.2
117.0
113.7
111.1
104.3
104.6

104.5
110.7
114.3
116.2
113.2
111.2
105.4
105.3

105.1
110.4
114.8
115.0
113.4
111.4
105.1
106.9

98.0
106.6
111.2
114.5
115.2
111.5
, 109.9
1 104.1

101.6
106.7
112.6
115.6
114.9
107.6
109.0
104.0

104.5
108.4
113.4
115.3
114.6
110.9
106.8
103.5

104.6
110.2
114.4
116.1
113.4
111.2
104.9
105.6

132




.

102.2
108.0
112.9
115.4
114.5
110.3
107.7
104.3

See footnotes at end of this part.

Quarterly

Monthly
Year
Jan.

Feb.

Mar.

Apr.

May

June

July

Aug.

Sept.

Oct.

Nov.

Dec.

IQ

IIQ

915. Composite index of inventory investment and
[1967=100]
1947
1948
1949
1950
1951
1952
1953
1954

III Q

IV Q

Annual

Average for period

91.9
89.0
92.9
103.0
93.5
96.3
89.9

91.7
88.4
93.9
102.9
92.5
96.6
90.7

91.5
87.8
94.2
102.6
92.7
97.0
91.0

92.3
87.1
94.9
100.0
93.0
96.4
91.4

92.1
86.6
96.8
97.8
92.5
95.4
92.0

93.2
86.4
97.5
96.5
94.9
95.0
92.6

93.7
88.1
102.1
95.1
95.7
94.4
92.5

93.4
91.1
105.0
93.4
95.3
92.7
92.8

92.4
93.1
104.4
93.2
95.5
90.7
93.9

91.4
93.3
103.9
94.4
95.0
89.6
95.0

90.6
93.2
101.7
93.8
94.9
89.3
95.9

89.2
92.0
100.5
93.7
95.2
89.6
96.6

91.7
88.4
93.7
102.8
92.9
96.6
90.5

92.5
86.7
96.4
98.1
93.5
95.6
92.0

93.2
90.8
103.8
93.9
95.5
92.6
93.1

90.4
92.8
102.0
94.0
95.0
89.5
95.8

92.0
89.7
99.0
97.2
94.2
93.6
92.9

97.1
97.5
94.8
91.9
98.1
96.4
93.3
98.8
97.7
99.3

97.6
97.1
94.4
91.5
99.5
95.1
93.6
99.1
98.4
99.0

98.9
97.0
93.5
91.4
99.9
93.9
94.7
98.6
98.9
99.5

99.1
97.1
93.4
91.4
100.2
93.2
96.2
96.7
99.6
100.2

98.8
95.9
93.8
92.2
99.5
93.4
97.1
96.1
99.3
100.5

98.8
95.5
93.9
93.3
98.8
93.8
97.4
95.6
98.5
99.9

99.8
96.6
94.1
94.9
98.1
94.3
96.9
96.3
97.7
100.5

100.0
96.6
93.8
96.1
97.6
94.7
97.4
96.8
97.9
100.8

99.7
96.4
93.6
97.4
98.2
94.9
97.7
97.4
98.2
102.4

99.3
96.3
93.2
97.6
98.0
94.5
97.8
97.7
98.4
102.0

98.9
96.1
91.9
98.2
97.2
94.2
97.8
97.7
98.5
102.2

98.2
95.4
91.1
97.6
97.3
93.9
98.2
97.3
98.5
102.1

97.9
97.2
94.2
91.6
99.2
95.1
93.9
98.8
98.3
99.3

98.9
96.2
93.7
92.3
99.5
93.5
96.9
96.1
99.1
100.2

99.8
96.5
93.8
96.1
98.0
94.6
97.3
96.8
97.9
101.2

98.8
95.9
92.1
97.8
97.5
94.2
97.9
97.6
98.5
102.1

98.8
96.5
93.5
94.5
98.5
94.4
96.5
97.3
98.5
100.7

1965
1966
1967
1968
1969
1970
1971
1972
1973
1974

102.1
103.1
100.5
101.9
103.9
100.5
99.5
101.8
107.6
109.4

102.4
104.7
100.6
102.0
103.8
100.1
100.6
102.4
109.0
108.8

101.8
105.6
99.2
101.3
103.7
99.1
101.2
103.0
110.4
107.7

102.0
105.1
98.7
100.7
103.9
99.3
101.7
102.7
110.6
106.6

101.8
104.2
98.3
100.9
103.4
101.0
101.0
102.9
110.5
105.6

101.4
103.5
98.8
100.9
103.0
101.2
99.7
103.3
109.7
104.4

101.3
103.3
99.5
100.8
102.7
99.5
99.3
103.5
109.1
103.5

101.3
103.0
100.6
99.8
102.7
99.0
99.5
104.0
108.9
102.6

100.9
102.0
100.6
100.7
103.0
99.1
100.2
104.6
109.0
100.2

100.7
101.6
100.7
102.1
103.1
97.9
100.9
105.8
109.3
98.4

101.5
101.2
100.9
103.6
102.3
97.6
101.0
106.2
109.7
96.5

102.5
101.0
101.6
103.3
101.9
98.4
101.1
106.9
109.4
94.1

102.1
104.5
100.1
101.7
103.8
99.9
100.4
102.4
109.0
108.6

101.7
104.3
98.6
100.8
103.4
100.5
100.8
103.0
110.3
105.5

101.2
102.8
100.2
100.4
102.8
99.2
99.7
104.0
109.0
102.1

101.6
101.3
101.1
103.0
102.4
98.0
101.0
106.3
109.5
96.3

101.6
103.2
100.0
101.5
103.1
99.4
100.5
103.9
109.4
103.2

1975
1976
1977
1978
1979
1980
1981
1982

92.9
101.2
102.5
104.8
107.9
100.8
100.5
96.7

92.2
102.0
104.0
106.5
108.2
100.5
100.5
96.5

92.0
103.1
104.6
107.0
108.4
100.6
100.7
96.6

93.6
104.2
104.6
107.2
107.8
99.2
101.8
96.4

94.9
104.3
104.2
107.2
107.5
97.2
102.5
97.1

95.7
104.5
103.7
107.2
106.2
95.9
102.6
97.6

96 7
104.4
103.1
105.8
104.6
96.9
102.6
97.8

98.0
104.1
103.6
106.4
103.7
98.7
102.1
98.1

100.1
103.3
104.7
106.4
102.4
101.0
101.2
98.3

101.0
101.8
105.0
107.1
101.5
102.2
99.8
98.0

100.4
101.9
104.1
107.5
100.9
102.1
98.7
97.0

99.4
102.2
104.5
107.8
100.7
101.7
97.8
96.4

92.4
102.1
103.7
106.1
108.2
100.6
100.6
96.6

94.7
104.3
104.2
107.2
107.2
97.4
102.3
97.0

98.3
103.9
103.8
106.2
103.6
98.9
102.0
98.1

100.3
102.0
104.5
107.5
101.0
102.0
98.8
97.1

96.4
103.1
104.0
106.7
105.0
99.7
100.9
97.2

1955
1956
1957
1958
1959
1960
1961..".
1962
1963
1964

916. Composite index of profitably
[1967=100]

Average for period

1947
1948
1949
1950
1951
1952
1953
1954

66.1
69.1
68.1
71.6
74.0
73.1
68.6

66.6
68.3
68.6
70.3
73.3
72.8
69.5

67.2
68.2
69.1
70.7
72.9
72.5
70.0

68.5
68.0
69.8
71.3
72.4
71.6
70.8

69.5
67.7
70.5
71.6
72.0
71.3
71.5

69.5
67.7
71.5
72.2
72.0
70.6
72.0

68.8
68.8
71.4
73.2
72.0
70.5
72.8

68.1
69.8
72.8
74.4
71.8
70.3
73.4

68.7
68.9
73.2
74.6
72.0
68.7
74.4

69.7
68.1
73.7
74.5
72.2
67.9
75.3

69.7
67.2
73.7
74.1
73.0
67.0
76.4

69.3
67.7
72.3
74.0
73.3
67.8
77.9

66.6
68.5
68.6
70.9
73.4
72.8
69.4

69.2
67.8
70.6
71.7
72.1
71.2
71.4

68.5
69.2
72.5
74.1
71.9
69.8
73.5

69.6
67.7
73.2
74.2
72.8
67.6
76.5

68.5
68.3
71.2
72.7
72.6
70.3
72.7

1955
1956
1957
1958
1959
1960
1961
1962
1963
1964

79.1
81.2
79.5
74.7
83.8
84.4
80.5
88.5
89.6
94.6

80.4
80.5
79.2
73.9
84.2
84.1
80.8
89.3
89.6
95.5

80.6
81.0
79.1
74.4
85.3
83.0
82.1
88.9
90.0
95.7

79.2
74.7
86.2
82.4
83.4
88.1
91.2
95.9

81.5
80.0
79.5
75.4
87.1
81.4
84.5
86.7
91.9
96.0

82.2
79.8
79.7
76.1
85.9
81.8
84.7
85.4
92.1
96.0

83.0
80.4
80.0
76.9
85.3
81.4
85.0
86.1
92.0
96.7

82.9
80.2
79.3
77.8
84.1
81.5
85.8
86.8
92.5
96.6

83.3
79.6
78.3
79.0
83.6
80.7
86.1
87.3
92.7
96.5

82.4
79.3
77.0
80.5
83.6
79.9
86.6
87.4
92.6
96.5

83.0
79.0
76.2
81.8
83.7
79.9
87.6
88.9
92.4
96.3

82.3
79.4
75.3
82.7
84.3
80.0
88.4
89.3
93.4
97.4

80.0
80.9
79.3
74.3
84.4
83.8
81.1
88.9
89.7
95.3

81.7
80.2
79.5
75.4
86.4
81.9
84.2
86.7
91.7
96.0

83.1
80.1
79.2
77.9
84.3
81.2
85.6
86.7
92.4
96.6

82.6
79.2
76.2
81.7
83.9
79.9
87.5
88.5
92.8
96.7

81.8
80.1
78.5
77.3
84.8
81.7
84.6
87.7
91.7
96.1

1965
1966
1967
1968
1969
1970
1971
1972
1973
1974

99.1
103.0
98.8
100.3
99.5
89.5
91.2
96.1
100.2
91.4

100.4
102.9
98.8
99.0
99.0
88.0
93.0
96.4
99.7
89.9

100.5
101.7
99.1
99.0
98.1
88.9
93.3
96.8
98.5
89.9

100.7
101.6
99.4
100.4
97.9
89.1
93.8
97.0
97.3
88.7

101.0
100.2
99.7
101.0
97.8
88.0
93.5
96.9
96.0
87.7

100.4
99.8
99.6
101.3
96.5
87.7
93.7
97.1
95.2
86.3

100.6
99.4
100.1
101.2
95.4
87.4
94.1
97.2
94.9
83.7

101.0
98.1
100.5
100.7
94.9
87.6
94.3
97.8
94.2
81.0

101.8
98.0
101.0
100.8
94.0
87.9
94.9
98.0
94.6
80.1

102.5
98.2
101.2
100.8
93.2
87.7
94.8
98.5
95.4
80.7

102.9
99.3
100.9
100.6
92.4
87.2
94.3
99.6
94.5
81.6

102.8
98.8
100.9
100.4
90.6
89.4
95.4
100.0
92.3
81.5

100.0
102.5
98.9
99.4
98.9
88.8
92.5
96.4
99.5
90.4

100.7
100.5
99.6
100.9
97.4
88.3
93.7
97.0
96.2
87.6

101.1
98.5
100.5
100.9
94.8
87.6
94.4
97.7
94.6
81.6

102.7
98.8
101.0
100.6
92.1
88.1
94.8
99.4
94.1
81.3

101.1
100.1
100.0
100.5
95.8
88.2
93.9
97.6
96.1
85.2

1975
1976
1977
1978
1979
1980
1981
1982

83.2
97.0
97.0
96.2
98.4
94.5
98.2
94.5

85.3
97.9
97.2
95.4
97.4
95.1
98.8
93.2

87.3
97.5
98.1
96.3
97.3
93.2
99.0
92.6

97.9
97.2
92.5
98.7
93.1

91.0
96.5
99.6
99.6
96.4
92.7
98.1
93.0

92.7
96.4
100.4
99.6
96.3
93.5
98.4
92.4

94.0
96.6
101.2
99.5
96.1
94.1
98.2
92.6

94.1
96.2
101.5
100.5
96.4
94.5
98.5
92.8

94.1
96.3
100.3
100.6
95.7
95.0
96.9
94.3

94.9
95.6
98.9
100.1
94.4
95.5
96.9
95.4

95.2
95.2
98.0
99.2
93.4
96.2
97.1
96.0

95.4
96.4
97.4
98.6
94.0
97.1
96.2
97.0

85.3
97.5
97.4
96.0
97.7
94.3
98.7
93.4

.90.8
96.7
99.6
99.0
96.6
92.9
98.4
92.8

94.1
96.4
101.0
100.2
96.1
94.5
97.9
93.2

95.2
95.7
98.1
99.3
93.9
96.3
96.7
96.1

91.3
96.6
99.0
98.6
96.1
94.5
97.9
93.9

61.3
62.2
65.0
62.4
65.1
64.6
66.1

60.7
62.9
63.1
62.6
65.5
63.9
66.9

60.4
62.6
62.6
62.8
65.8
63.5
67.7

60.8
63.0
63.0
63.5
65.5
62.9
68.0

63.2
60.8
63.9
61.5
63.9
65.7
63.8

62.2
61.5
65.3
60.8
63.5
66.2
64.1

61.5
62.0
65.6
62.0
64.3
65.2
65.2

60.6
62.8
62.9
63.0
65.6
63.4
67.5

61.9
61.8
64.4
61.8
64.3
65.2
65.2

917. Composite index of money andfinancialflows
[1967=100]

Average for period

1947
1948
1949
1950
1951
1952
1953
1954

64.3
60.8
63.9
62.4
63.8
65.5
63.4

62.3
60.8
64.0
61.4
63.8
65.4
64.0

62.9
60.9
63.9
60.7
64.0
66.3
64.0

62.3
61.0
64.8
60.7
63.1
66.5
63.9

62.7
62.0
65.2
60.8
63.5
66.7
64.1

61.5
61.6
65.9
61.0
64.0
65.5
64.4

61.8
61.9
66.6
61.4
63.8
65.6
65.3

61.5
62.0
65.2
62.2
63.9
65.5
64.3

1955
1956
1957
1958
1959
1960
1961
1962
1963
1964

68.5
69.4
68.1
65.7
72.4
70.9
73.6
79.6
84.8
87.9

68.7
69.1
68.1
66.3
72.3
71.6
74.5
80.0
85.3
88.4

68.9
69.6
68.8
66.8
72.3
71.8
75.5
80.8
85.4
88.1

68.7
68.8
68.7
67.2
72.0
71.9
75.7
81.7
85.8
88.5

69.7
68.0
68.2
67.3
72.7
71.7
76.2
81.8
86.0
89.1

70.4
67.6
67.8
68.2
73.6
72.0
76.7
81.9
85.9
89.6

70.9
67.3
67.6
68.6
74.1
72.5
76.9
81.5
86.2
90.6

70.8
67.3
67.4
69.0
74.4
73.4
77.2
81.6
86.6
91.0

70.4
67.8
67.5
69.8
73.4
74.1
77.3
81.7
87.5
91.7

69.8
67.6
66.8
70.5
72.2
73.9
77.6
82.3
88.2
91.8

69.8
68.1
66.1
71.3
71.3
73.8
78.4
82.9
88.6
92.3

69.5
68.0
66.2
71.7
70.7
73.3
79.2
83.9
88.2
92.7

68.7
69.4
68.3
66.3
72.3
71.4
74.5
80.1
85.2
88.1

69.6
68.1
68.2
67.6
72.8
71.9
76.2
81.8
85.9
89.1

70.7
67.5
67.5
69.1
74.0
73.3
77.1
81.6
86.8
91.1

69.7
67.9
66.4
71.2
71.4
73.7
78.4
83.0
88.3
92.3

69.7
68.2
67.6
68.5
72.6
72.6
76.6
81.6
86.5
90.1

1965
1966
1967
1968
1969
1970
1971
1972
1973
1974

92.8
97.5
95.9
102.7
105.9
100.8
104.6
113.8
126.2
118.6

93.3
97.1
97.0
102.8
105.0
99.6
106.6
115.8
126.6
119.1

93.9
97.0
98.5
102.9
104.0
98.8
108.3
117.7
124.8
119.4

94.0
96.8
98.7
103.2
104.0
98.8
109.1
118.3
123.7
120.8

94.2
96.5
99.1
102.8
103.1
100.0
110.1
117.5
123.3
118.6

94.0
96.1
99.6
103.0
102.0
100.7
109.4
117.6
123.4
116.9

94.8
95.1
100.2
103.7
100.6
100.7
109.9
118.1
123.5
117.1

96.0
94.2
101.3
104.5
100.0
102.0
111.7
120.2
122.5
115.4

96.5
94.3
102.0
105.4
100.2
103.0
112.2
121.2
120.8
114.4

96.4
94.5
102.4
105.8
100.6
102.6
111.1
123.1
120.3
112.4

96.8
95.0
102.5
106.1
101.0
102.8
112.1
123.6
119.3
112.1

97.0
95.7
102.8
106.5
101.2
103.7
112.7
124.7
118.4
110.5

93.3
97.2
97.1
102.8
105.0
99.7
106.5
115.8
125.9
119.0

94.1
96.5
99.1
103.0
103.0
99.8
109.5
117.8
123.5
118.8

95.8
94.5
101.2
104.5
100.3
101.9
111.3
119.8
122.3
115.6

96.7
95.1
102.6
106.1
100.9
103.0
112.0
123.8
119.3
111.7

95.0
95.8
100.0
104.1
102.3
101.1
109.8
119.3
122.7
116.3

1975
1976
1977
1978
1979
1980
1981
1982

110.4
118.7
128.7
132.5
131.9
121.9
122.2
123.3

110.8
120.6
129.2
131.9
129.9
122.5
122.1
122.1

111.8
120.8
129.7
132.9
129.5
122.4
122.2
122.2

113.1
122.0
130.1
132.8
131.4
120.2
123.5
123.0

114.1
124.0
131.0
133.6
131.6
118.6
123.2
122.4

115.8
123.7
131.2
133.1
132.1
119.2
123.1
122.2

117.5
123.0
130.9
131.7
131.6
120.2
123.3
122.5

117.8
123.8
132.2
131.1
130.3
122.7
123.8
124.5

117.5
124.4
132.1
130.8
129.3
123.4
122.9
124.2

117.5
125.4
132.5
130.5
126.7
122.8
121.7
122.7

118.2
126.3
132.8
130.9
123.9
122.6
122.2
122.5

119.0
127.6
132.9
131.0
122.2
121.7
122.2
122.4

111.0
120.0
129.2
132.4
130.4
122.3
122.2
122.5

114.3
123.2
130.8
133.2
131.7
119.3
123.3
122.5

117.6
123.7
131.7
131.2
130.4
122.1
123.3
123.7

118.2
126.4
132.7
130.8
124.3
122.4
122.0
122.5

115.3
123.4
131.1
131.9
129.2
121.5
122.7
122.8

See footnotes at end of this part.




133

lln.illiln

Year

Jan.

Feb.

Mar.

May

Apr.

Quarterly

Monthly

June

July

Aug.

Sept.

Oct.

Nov.

119

10

Dec.

1110

920. ComposHe W e i of four roughty coincident kidkators
[1967=100]
50.0
49.5
47.9
57.6
57.9
63.8
60.0

49.9
49.1
47.6
57.4
58.8
64.3
60.0

50.4
48.5
49.1
57.6
58.7
64.9
59.4

50.0
48.1
50.3
57.9
58.5
64.9
59.1

50.3
47.5
51.4
57.8
58.8
65.0
58.9

51.2
47.2
52.7
57.9
58.4
64.7
58.9

51.3
46.6
54.7
57.3
57.3
64.9
58.7

51.4
47.1
56.5
57.6
59.9
64.1
58.7

51.3
47.8
55.8
57.3
61.6
63.4
59.0

51.4
45.7
56.0
57.6
62.5
63.1
59.4

51.1
46.6
55.8
57.8
62.8
61.9
60.4

50.6
47.2
57.1
57.7
63.4
60.8
61.2

1955
1956
1957
1958
1959
1960
1961
1962
1963
1964

61.9
68.3
69.6
64.3
67.0
71.9
67.0
72.0
74.5
78.6

62.3
68.2
70.0
63.0
67.7
71.6
66.8
72.7
75.1
79.4

63.5
68.2
69.9
62.1
68.8
71.0
67.3
73.2
75.4
79.5

64.3
68.8
69.3
61.0
69.8
71.3
67.5
73.7
76.0
80.4

65.2
68.4
68.9
61.2
70.6
70.9
68.3
73.7
76.3
81.0

65.6
68.4
69.1
62.1
70.8
70.4
69.3
73.6
76.6
81.2

66.2
65.9
69.1
63.1
70.2
70.0
69.4
74.0
76.8
81.9

66.2
68.2
69.1
63.6
68.1
69.7
70.1
74.2
76.9
82.5

66.7
68.9
68.4
64.2
67.9
69.3
70.2
74.2
77.4
83.1

67.4
69.6
67.7
64.6
67.6
69.1
71.0
74.4
78.0
82.1

67.8
69.4
66.6
66.2
68.3
68.1
72.0
74.7
77.7
83.7

1965
1966
1967
1968
1969
1970
1971
1972
1973
1974

85.4
93.6
99.4
102.8
109.1
110.8
108.6
114.0
125.5
128.7

86.0
94.3
98.8
103.5
109.9
110.8
108.5
114.4
127.0
128.0

86.8
95.4
98.9
104.0
110.5
110.8
108.8
115.6
127.4
127.8

87.3
95.5
99.1
104.4
110.8
110.5
109.1
116.6
127.2
127.6

87.9
96.0
99.0
105.2
110.8
110.1
109.6
117.2
127.5
128.2

88.5
97.1
99.2
106.0
111.4
109.7
109.8
116.9
127.8
128.3

89.4
97.3
99.5
106.6
112.1
109.8
109.6
117.8
128.7
128.2

89.6
97.6
100.3
106.8
112.5
109.3
109.3
119.3
127.8
127.3

90.2
97.7
100.4
107.1
112.6
109.0
110.1
119.9
128.7
126.5

91.2
98.3
100.3
107.7
112.9
106.7
110.2
121.8
129.7
125.2

1975
1976
1977
1978
1979
1980
1981
1982

116.2
121.4
128.3
137.1
149.3
150.7
146.8
138.4

114.6
122.9
129.2
138.3
149.4
149.6
147.2
139.9

113.0
123.6
130.9
140.0
151.2
148.1
147.2
139.2

113.3
124.3
131.6
143.0
149.1
145.1
147.1
138.0

114.1
124.6
132.5
143.1
150.6
142.4
146.9
138.8

114.9
124.8
133.6
144.2
150.6
141.1
147.5
137.3

115.6
125.3
134.3
145.0
151.0
140.8
147.6
136.4

117.3
125.5
134.6
145.9
150.6
141.2
147.3
135.1

118.1
125.6
135.8
146.1
150.4
142.7
146.5
134.5

118.5
125.3
136.6
147.4
150.3
144.2
144.5
132.7

50.1
49.0
48.2
57.5
58.5
64.3
59.8

50.5
47.6
51.5
57.9
58.6
64.9
59.0

51.3
47.2
55.7
57.4
59.6
64.1
58.8

51.0
46.5
56.3
57.7
62.9
61.9
60.3

50.7
47.6
52.9
57.6
59.9
63.8
59.5

68.2
69.9
65.4
65.9
70.9
67.2
72.4
74.4
78.3
85.1

62.6
68.2
69.8
63.1
67.8
71.5
67.0
72.6
75.0
79.2

65.0
68.5
69.1
61.4
70.4
70.9
68.4
73.7
76.3
80.9

66.4
67.7
68.9
63.6
68.7
69.7
69.9
74.1
77.0
82.5

67.8
69.6
66.6
65.6
68.9
68.1
71.8
74.5
78.0
83.6

65.4
68.5
68.6
63.4
69.0
70.0
69.3
73.7
76.6
81.5

92.1
98.3
102.0
108.5
111.9
105.8
111.0
123.2
130.7
122.2

93.0
98.6
103.3
108.9
112.0
107.6
112.2
124.5
129.8
118.4

86.1
94.4
99.0
103.4
109.8
110.8
108.6
114.7
126.6
128.2

87.9
96.2
99.1
105.2
111.0
110.1
109.5
116.9
127.5
128.0

89.7
97.5
100.1
106.8
112.4
109.4
109.7
119.0
128.4
127.3

92.1
98.4
101.9
108.4
112.3
106.7
111.1
123.2
130.1
121.9

89.0
96.6
100.0
106.0
111.4
109.2
109.7
118.4
128.2
126.4

118.9
126.8
137.2
148.4
149.9
145.3
143.0
132.6

119.5
127.8
138.1
149.7
150.0
146.1
140.9
132.6

114.6
122.6
129.5
138.5
150.0
149.5
147.1
139.2

114.1
124.6
132.6
143.4
150.1
142.9
147.2
138.0

117.0
125.5
134.9
145.7
150.7
141.6
147.1
135.3

119.0
126.6
137.3
148.5
150.1
145.2
142.8
132.6

116.2
124.8
133.6
144.0
150.2
144.8
146.0
136.3

I

920c. Chant* n composne noex or row rougny cowcwerw racators over 1-month spare>
[Annual rate, percent]

1955
1956
1957
1958
1959
1960
1961
1962
1963
1964
1965
1966
1967
1968
1969
1970
1971
1972
1973
1974
1975
1976
1977
1978
1979
1980
1981
1982

-2.4
-9.3
-7.3
-4.1
20.3

12.7
-13.7
45.1

-9.1
-9.5
33.6

4.3

6.4

-14.7

-2.0
11.8
-11.4

-4.0

9.8
0

14.6

8.0

25.7

-23.2
19.3
11.0

4.2
7.8

1.8
-5.0
-18.4
22.0
18.3
-3.5
-6.4

-1.7

0

7.1

-1.7
-15.9
21.3
-9.6

1.6
4.7

-21.7
13.3
-4.9
-3.5
12.3
10.1
12.9

4.3
8.0

8.8
9.4

11.8
14.9

10.2
-5.7

-7.0

-1.1

1.2
6.0
6.8
0
3.4

4.3

13.3

15.3
-6.3

3.8

2.2
-12.1
11.7
21.0
10.1
-9.7

8.5
9.2
0

9.4
8.6
4.9
1.5

-1.9

-20.2
20.8

-15.3
15.9

-15.5

4.8

8.8

-8.4
-3.2
5.7
5.9
-19.3

-8.4
3.3
13.8

17.0
15.8
15.5
-11.4
0
-5.8

11.0

.8

7.1

7.4
-14.0
29.6
-2.1

2.4

2.4

-14.2
56.4
-11.8
-20.4

13.7
47.5
70.3
-13.8

0

-4.0

0

6.3

8.4

7.6
0
3.5

11.5
-36.0

0

9.4

50.9

13.0
-11.5
11.9
-3.5
-6.7

13.3
12.9
-11.6

6.3
1.9

-5.9

-4.0

16.2
11.1
-9.8
-19.3
18.9

18.2
-6.8
-6.7

4.0

19.1

21.1
-9.7
-6.6

10.0
14.5

14.7
-6.5
15.2

0
4.8
9.3

-7.9
-5.4

3.5
-8.1
19.1
-1.6

0

1.7
6.7
3.2

4.8
3.0

10.8

8.5

12.9

14.7

7.1
1.3
2.5
4.7
3.3

-1.2

9.6
0

2.5
9.5
6.7

-3.2

-4.3

-4.3

2.5
3.7
7.0
7.8
1.1

3.4

5.6
6.4
2.9
5.8

2.2

-2.2

-3.0

9.6
8.8
-.9

10.9
-1.9
-1.9

3.2
7.0
6.6
29.0
-15.5
-21.8
-.8
-9.9

8.6
6.5

8.8
2.9
8.5
.8
12.8
-20.2
-1.6

7.2

2.4

3.8

2.1

0

5.2
3.6
8.5

Average for period

-2.3
19.4
-13.9
-6.1
39.9
-12.3

23.7
-7.3
34.9

2.9
.9
8.7
1.9
9.6
0

7.6
4.9
6.5
6.9
3.2

-10.4
5.0
-12.2

-2.5
.8
-7.6

10.4

6.5

0
9.9
-30.5
-5.0
12.8

3.3
1.6
9.2
2.7
3.8
10.1

2.3
4.4
-5.3
-3.2
16.4
-8.1
-8.1

1.7
0
8.1
9.1

-41.7

4.4
6.5
19.0
-5.5

7.7
-5.2
-3.4
14.6

-6.8
26.4
-4.2

4.2
5.9
-20.6
22.2

7.4

-11.1
16.6
31.8
-2.1
12.1
-19.4
17.1

7.3
9.0

-3.4
-17.8
34.1
13.2
-16.0
18.3

-19.6
-5.3
56.6
-14.8

-10.3
32.7

3.7
7.5
9.8

2.1

-8.7

-1.9
-1.2
-3.3

16.1

14.0

0
.1

-4.3

-18.7
18.9

4.9

-4.7

9.7

-13.5

-4.5
26.1

22.0

1.3
.8
4.8
5.5
6.4

14.1

12.5

12.4

8.3

3.3
9.7

6.9

1.4
1.3
12.4
-3.1
12.6

0

3.7

10.8

22.3

16.4

1.5
2.9
6.1

-3.2

-22.6

-4.0

-3.9

9.1
6.2
8.8

1.1

9.1

4.7

20.8

14.7

9.7

9.7

-7.3

-11.7

-25.3

22.4
13.8
13.4
-8.0
-31.6

-6.0

3.7
4.8
1.3
1.6

6.2
9.9
8.2

-17.0
14.6
10.2

6.9
3.9
8.5

4.5
1.1

8.5
1.0

4.1

4.1

-2.8

15.4

11.2

7.3

1.7

11.2

5.4
8.5

11.0

-3.1
3.5
-2.4
-10.9

-1.6
13.5
-6.3
-5.2

13.4
-15.2
-14.9

-3.1
9.5
-11.8

6.8
-16.3

-.9

0

-5.3
-4.9

-14.0
20.7
11.9

-.8

.8

12.9

9.7

1955
1956
1957
1958
1959
1960
1961
1962
1963
1964
1965
1966
1967
1968
1969
1970
1971
1972
1973
1974
1975
1976
1977
1978
1979
1980
1981
1982

6.5

0

3.2

-15.6
17.1

-10.8
21.6

-12.4
36.0

-10.3
32.7

2.1
4.2
7.1

2.8
0
4.4

2.1

7.1
9.9

3.5
7.1
9.8

-11.7

-8.9

-5.9

-7.1

-2.0
-1.2
-3.3

13.2

15.9

16.4

20.0

13.9

-14.8

8.9
12.0

2.4
3.5

0
0

-19.9

-18.7
18.8

9.4

10.8
-11.9
39.9
-4.1
-8.0

0
-2.7

9.0
-3.3
46.0
-1.4

7.7
-5.4
-1.4

6.3

0

12.4
-15.8
-1.1
14.5

12.1
-3.3
12.4

-7.1
11.7

16.6
-13.4
-6.6
11.0

2.2
6.5
8.8

1.6
4.3
7.7

8.1
7.3
1.2
7.9
3.3

10.0

3.0

1.2

1.2

-1.7
-19.0
17.8
-3.3

-6.1
-10.9
18.3
-3.9

-4.5

3.0
9.8
8.3
9.5

9.3
5.6
6.5
8.3

9.2
8.4

2.3

-1.2

1.2

7.9
2.5
4.9
4.2
4.4

8.3
4.2
3.3
4.2
2.9

-2.9
-1.1

-2.5

10.7

1.2
2.7
6.0

-1.2

6.4
6.4

-3.9
10.6
12.8
12.9
-8.0

-4.2

-1.1

-2.5

-3.9

-2.5

4.5

4.1

9.6

1.9
9.4
5.5

-6.0

-3.4

3.7
4.6
1.3
1.6

1.8
4.2
4.8
1.9

6.9
3.9
8.5

8.4
3.3
8.5
5.7
5.2

11.7

2.9
6.5
8.1
0

-11.3

-3.3

7.8
3.2
2.7
-.8
5.3
-8.4

134



1.4

9.6
2.8

20.8
-13.0
12.1

12.2
-15.4
15.8

-18.3
17.9

10.0

9.3
5.9

5.4
0

-16.4
11.0
18.9
-11.6
13.1

-18.6
15.7
28.0
-11.6

7.2
-13.7
17.4

1.2
-8.9
11.3

2.1
8.6

6.1
4.4

13.1

-.9

-4.7
3.1
-3.8

-17.5
.9
-5.0

4.8
-2.6
-7.9

10.2
-1.0
9.9
-14.4
-5.3

-1.9
-3.3
-5.5

.3

3.9
5.5
2.1

-5.8
21.2

5.9
6.1
8.9

-3.3

-1.9
27.2
-1.1
24.3
-7.9

10.2
-3.4

-8.8

-4.4

13.9
-15.6
15.3

15.2

15.4
-4.5
-3.9

8.2
4.4

11.4

-16.2
14.7
16.0
-10.7
10.1

-5.8

1.8
.6
-19.2
15.3

1.1

1.2

1.4
6.9
8.7
-3.6
13.6
-14.3
-5.9

1.8
.9

2.6
2.6
7.0

4.4

-21.4

-7.9

1.8
6.8
6.8
-.8
3.8

6.9
7.1
5.5
7.5
-.6
9.8

1.6
6.5
7.7
8.6
.8

-3.2
-9.5

-13.8
-2.6

-2.8

-5.5

-9.0

-15.1

-23.3

11.6

10.4

2.6
6.8
5.4
-.5
4.6

0
7.0
6.8

5.6
4.2
8.0
7.0

4.8
7.2
6.9

-1.8
10.0
-8.1
-10.4

-1.8
12.1
-11.2
-7.2

-14.4
-5.5

-7.2

-11.5
36.2

11.2

3.5

9.9

3.5

-13.7
15.9

-5.8

9.4

10.2
-1.1

6.8

4.8

3.1

-10.2

1.6
7.2
8.1
8.7
.5

10.8

2.8

-4.6

4.8
7.5
7.0

2.6
6.8
5.4
-.5

3.3

16.3

-5.3

11.7

2.3

13.7

-3.1

-8.2

9.6

14.3

-1.2

-22.9

14.2

10.7

-4.7

4.5

-5.4

10.8

7.4
.9

-2.7
-7.9

3.8

.7

7.9

1.1

4.4
11.2

3.2

-5.4

6.4

1.4

8.0
16.3

3.2
6.3
2.6
1.4

2.2

.8

-3.4

1.2
10.7

-3.0

1.1

-.8

6.9
-1.9
-3.3

9.3
6.1
5.1
5.5
3.0

5.7

-2.1
-5.0

.8

3.8
12.5

-3.1

5.3

-2.1
-12.2

3.0

13.0

8.0
2.9
5.3
9.1

7.3

6.9

-10.8

-17.9

11.5

2.3
9.6
-4.8

14.5
12.7
-3.0
-25.8

4.6
10.3

-14.1

1.2
5.0

4.2

-7.2

3.7
12.1

-5.0

-6.1

8.1
4.5
4.5
4.9
4.5

2.9
7.0
6.5

12.6
-1.6
-17.6

-16.3
12.2
21.5
-11.4
13.3

9.1
7.5
1.2
7.8
3.8

10.9

3.3

-3.8
14.3
-14.6
-6.1

1.2

9.6
9.7
.7
5.0
5.9

17.1

10.6
14.6

11.6

8.6
2.7
4.6
6.1

13.0

-.5

9.3
6.2

3.1
5.8
8.3

10.0

10.7
18.4

.8

7.0
9.3

6.1
5.3
8.3

11.6

5.6

12.0
-3.5

-1.3

5.8
.5
3.1

-1.7

1.2

12.3
-15.2
15.9

10.9
-4.8
11.1

1.1
4.7

9.9

5.6
4.1

9.9

-4.7
23.1

Average for period
-2.3
-4.2
-4.9

2.7
4.2
5.9

-9.6

-17.0
14.4
10.1

24.4
-7.9

8.0
6.8
5.4
6.2
6.3

9.9
2.1
6.0
5.3

-22.7
14.2

4.9
7.5

9.5
2.2
6.4
1.0

9.1
7.4
.8
6.7
3.3

1.6
.6

41.5
-10.6

5.3
3.3
4.2
9.7

8.2

10.2

9.9
2.1

2.7
3.2
7.6

11.5

12.7

.7

6.9
3.0

-7.5

-14.0
-5.0

3.9
2.2
9.0

7.8
1.6
8.7
4.8

25.7
-4.1
23.8
-7.8

0.8

-4.0
14.2
-15.4
-6.1

.6
.6
4.5
5.5
6.3

20.8
-7.4

0.8
5.2

.4

2.9

-2.5

7.6

9.3

10.7

8.0
2.5
5.0
4.2
4.4

-1.2

-10.1
-9.7

-5.2

5.4
3.3
4.3
9.7

8.1
7.5
1.3
7.9
3.3

6.9
3.2

0.8
6.3
30.0
-3.8
29.9
-7.4

2.3
6.5
8.9

8.3
1.2
1.2
3.4
1.1

1.9
2.7
7.7

19.1

7.3
-15.4
19.0

4
920c. Change in composite index of four roughly coincident indicators over 3-month spam
[Annual rate, percent

1947
1948
1949
1950
1951
1952
1953
1954

Annual

Average for period

1947
1948
1949
1950
1951
1952
1953
1954

1947
1948
1949
1950
1951
1952
1953
1954

IV Q

10.2

9.9
1.5
5.3
1.1
7.4

6.0

11.6

9.3
-5.8
-16.4
12.8

4.5
4.3
9.2

9.5
9.1
2.1

11.0

-6.6

-15.6

2.3

-15.8

3.0

.5

4.9

-4.8

-4.3

1.4
4.0
11.0
11.8

3.7
9.8
6.2
-3.8
-3.3

-3.8

7.1
3.3
4.9
8.4
9.6
6.4
4.1
6.0
2.6
-3.7

-2.2
-3.4
-5.3

Year

Monthly
Jan.

Feb.

Apr.

Mar.

May

June

July

Aug.

Sept.

Oct.

Nov.

Dec.

_L2_

Quarterly
IIQ
IHO

930. Composite index of six lagging indicators
[1967=100]

IV Q

Annual

Average for period

1947
1948
1949
1950
1951
1952
1953
1954

36.4
40.0
39.3
42.8
50.2
53.3
57.9

36.8
40.2
39.0
43.7
50.3
53.8
57.3

37.0
40.0
38.6
44.5
50.8
54.1
56.3

37.1
40.0
38.8
45.1
50.6
55.2
55.3

37.2
40.2
38.9
45.6
51.3
56.5
54.9

37.4
39.7
38.8
46.5
52.2
56.8
54.3

38.0
39.7
38.5
47.0
52.3
56.9
54.1

39.0
39.2
38.7
47.1
51.9
57.3
53.5

39.3
38.8
40.1
47.3
51.9
57.9
53.2

38.9
39.7
41.4
47.8
51.7
58.1
53.0

39.8
39.2
42.5
48.3
52.3
58.3
53.0

39.6
39.4
42.0
49.4
53.0
58.5
52.9

36.7
40.1
39.0
43.7
50.4
53.7
57.2

37.2
40.0
38.8
45.7
51.4
56.2
54.8

38.8
39.2
39.1
47.1
52.0
57.4
53.6

39.4
39.4
42.0
48.5
52.3
58.3
53.0

38.0
39.7
39.7
46.3
51.5
56.4
54.6

1955
1956
1957
1958
1959
1960
1961
1962
1963
1964

52.6
60.0
67.0
71.8
64.1
74.9
76.7
73.8
77.9
81.9

52.7
60.2
66.6
69.3
64.0
76.2
76.6
73.5
78.1
82.9

53.0
61.2
67.0
69.2
64.3
77.0
75.8
73.9
78.3
83.4

52.6
62.5
67.8
67.8
64.3
77.3
75.0
74.5
78.3
83.8

53.2
63.9
68.1
64.6
66.1
78.6
74.5
74.8
78.5
83.5

53.9
64.4
68.1
63.3
68.3
79.4
73.7
75.6
79.0
84.3

54.2
66.1
68.4
62.6
69.4
79.2
73.3
75.9
79.5
83.8

56.5
64.9
71.0
61.9
71.4
78.4
73.1
76.2
80.0
85.0

56.9
65.9
72.3
63.5
75.1
75.8
73.4
76.6
80.3
85.9

58.2
66.0
71.8
64.0
76.3
75.8
73.1
77.1
80.7
86.6

59.4
66.6
72.6
63.8
76.4
76.4
72.6
77.5
82.1
85.7

59.4
66.4
73.2
64.7
75.2
77.2
73.0
78.0
82.4
86.1

52.8
60.5
66.9
70.1
64.1
76.0
76.4
73.7
78.1
82.7

53.2
63.6
68.0
65.2
66.2
78.4
74.4
75.0
78.6
83.9

55.9
65.6
70.6
62.7
72.0
77.8
73.3
76.2
79.9
84.9

59.0
66.3
72.5
64.2
76.0
76.5
72.9
77.5
81.7
86.1

55.2
64.0
69.5
65.5
69.6
77.2
74.2
75.6
79.6
84.4

1965
1966
1967
1968
1969
1970
1971
1972
1973
1974

87.0
92.4
99.3
99.8
104.9
114.8
109.1
104.4
106.2
114.6

87.7
93.3
99.6
100.4
105.6
114.8
108.8
104.2
107.3
114.4

88.2
93.6
100.3
100.3
105.9
115.1
108.3
104.4
107.6
113.6

88.9
94.6
100.2
101.1
107.0
113.7
107.2
104.7
109.4
115.6

89.8
95.6
100.2
101.5
108.0
113.6
107.3
105.1
109.6
116.7

89.9
96.4
100.4
101.8
109.2
114.0
105.2
105.9
110.7
117.1

89.7
97.0
100.5
101.5
109.3
113.5
106.0
105.4
112.0
117.1

90.7
97.5
99.8
102.2
109.9
114.1
107.0
105.0
112.0
117.2

90.5
97.5
100.3
102.5
110.4
113.6
106.9
104.9
113.2
118.6

91.2
97.7
100.1
102.6
111.1
113.5
106.4
105.1
113.3
118.7

91.9
99.0
99.6
103.2
111.3
112.8
106.0
105.1
113.6
119.7

92.3
99.3
99.6
104.3
111.8
111.0
105.9
104.8
114.5
121.1

87.6
93.1
99.7
100.2
105.5
114.9
108.7
104.3
107.0
114.2

89.5
95.5
100.3
101.5
108.1
113.8
106.6
105.2
109.9
116.5

90.3
97.3
100.2
102.1
109.9
113.7
106.6
105.1
112.4
117.6

91.8
98.7
99.8
103.4
111.4
112.4
106.1
105.0
113.8
119.8

89.8
96.2
100.0
101.8
108.7
113.7
107.0
104.9
110.8
117.0

1975
1976
1977
1978
1979
1980
1981
1982

121.0
104.3
103.8
111.4
119.2
126.2
121.7
126.1

119.0
103.8
104.3
111.6
119.7
127.1
120.7
125.3

118.6
103.3
104.2
112.3
118.8
130.2
119.0
125.1

115.2
102.8
104.7
111.6
121.7
132.3
119.0
125.9

112.8
103.4
105.2
112.8
121.0
129.6
122.2
125.1

108.6
102.9
106.3
113.7
122.3
125.5
122.4
124.8

108.0
103.2
106.2
114.3
122.3
121.8
122.5
124.3

106.9
103.2
107.2
114.8
123.0
120.5
123.3
122.4

105.9
103.9
107.7
115.4
124.7
119.4
124.7
121.4

106.0
104.2
108.3
115.3
125.8
119.0
125.0
120.5

104.7
103.8
109.0
117.1
126.3
120.1
124.5
118.3

104.6
103.7
109.4
118.0
126.1
123.0
124.4
116.7

119.5
103.8
104.1
111.8
119.2
127.8
120.5
125.5

112.2
103.0
105.4
112.7
121.7
129.1
121.2
125.3

106.9
103.4
107.0
114.8
123.3
120.6
123.5
122.7

105.1
103.9
108.9
116.8
126.1
120.7
124.6
118.5

110.9
103.5
106.4
114.0
122.6
124.6
122.4
123.0

930c. Change in composite index of six lagging indicators over 1-month spans4
[Annual rate, percent]
1947
1948
1949
1950
1951
1952
1953
1954

12.8
-3.0
25.4
21.3
7.0
-11.6

14.0
6.2
-8.8
28.4
2.4
11.9
-11.8

6.7
-5.8
-11.6
24.3
12.6
6.9
-19.0

3.3
0
6.4
17.4
-4.6
27.3
-19.4

3.3
6.2
3.1
14.1
17.9
32.2
-8.3

6.6
-13.9
-3.0
26.4
23.2
6.6
-12.4

21.0
0
-8.9
13.7
2.3
2.1
-4.3

36.6
-14.1
6.4
2.6

1955
1956
1957
1958
1959
1960
1961
1962
1963
1964

-6.6
12.8
11.4
-20.7
-10.6
-4.7
-7.5
14.0
-1.5
-7.0

2.3
4.1
-6.9
-34.6
-1.9
22.9
-1.6
-4.8
3.1
15.7

7.0
21.9
7.5
-1.7
5.8
13.4
-11.8
6.7
3.1
7.5

-8.7
28.7
15.3
-21.8
0
4.8
-12.0
10.2
0
5.9

14.6
30.5
5.4
-44.0
39.3
22.2
-7.7
4.9
3.1
-4.2

17.0
9.8
0
-21.6
48.1
12.9
-12.2
13.6
7.9
12.1

6.9
36.7
5.4
-12.5
21.1
-3.0
-6.3
4.9
7.9
-6.9

1965
1966
1967
1968
1969
1970
1971
1972
1973
1974

13.3
1.3
0
2.4
7.1
37.4
-18.7
-15.7
17.3
1.1

10.1
12.3
3.7
7.5
8.3
0
-3.3
-2.3
13.2
-2.1

7.1
3.9
8.8
-1.2
3.5
3.2
-5.4
2.3
3.4
-8.1

10.0
13.6
-1.2
10.0
13.2
-13.7
-11.5
3.5
22.0
23.3

12.8
13.4
0
4.9
11.8
-1.1
1.1
4.7
2.2
12.0

1.3
10.5
2.4
3.6
14.2
4.3
-21.1
9.5
12.7
4.2

1975
1976
1977
1978
1979
1980
1981
1982

-1.0
-3.4
1.2
24.3
12.9
1.0
-12.0
17.7

-18.1
-5.6
5.9
2.2
5.2
8.9
-9.4
-7.4

-4.0
-5.6
-1.1
7.8
-8.7
33.5
-15.7
-1.9

-29.5
-5.7
5.9
-7.2
33.6
21.2
0
7.9

-22.3
7.2
5.9
13.7
-6.7
-21.9
37.5
-7.4

-36.6
-5.7
13.3
10.0
13.7
-32.0
2.0
-2.8

Average for period

-12.5

9.6
-11.6
53.2
5.2
0
13.3
-6.5

-11.6
31.7
46.6
13.4
-4.5
4.2
-4.4

31.6
-14.1
37.0
13.3
14.9
4.2
0

-5.9
6.3
-13.2
31.0
17.3
4.2
-2.2

4.4
-7.8
26.0
12.1
8.6
-14.1

4.4
-2.6
2.2
19.3
12.2
22.0
-13.4

22.4
-8.6
16.9
7.2
-2.2
8.1
-7.8

4.7
8.0
23.5
19.2
9.2
4.2
-2.2

0.3
8.7
17.9
7.8
10.7
-9.4

64.7
-19.7
56.5
-12.6
40.6
-11.5
-3.2
4.8
7.8
18.6

8.8
20.1
24.3
35.8
83.4
-33.3
5.0
6.5
4.6
13.5

31.1
1.8
-8.0
9.9
21.0
0
-4.8
8.1
6.1
10.2

27.8
11.5
14.2
-3.7
1.6
9.9
-7.9
6.4
22.9
-11.8

0
-3.5
10.4
18.3
-17.3
13.3
6.8
8.0
4.5
5.7

.9
12.9
4.0
-19.0
-2.2
10.5
-7.0
5.3
1.6
5.4

7.6
23.0
6.9
-29.1
29.1
13.3
-10.6
9.6
3.7
4.6

26.8
12.4
28.7
3.6
48.4
-15.9
-1.5
5.4
6.8
8.4

19.6
3.3
5.5
8.2
1.8
7.7
-2.0
7.5
11.2
1.4

13.7
12.9
11.3
-9.1
19.3
3.9
-5.3
6.9
5.8
4.9

-2.6
7.7
1.2
-3.5
1.1
-5.1
9.5
-5.5
15.0
0

14.2
6.4
-8.0
8.6
6.8
6.5
11.9
-4.5
0
1.0

-2.6
0
6.2
3.6
5.6
-5.1
-1.1
-1.1
13.6
15.3

9.7
2.5
-2.4
1.2
7.9
-1.1
-5.5
2.3
1.1
1.0

9.6
17.2
-5.8
7.2
2.2
-7.2
-4.4
0
3.2
10.6

5.3
3.7
0
13.6
5.5
-17.6
-1.1
-3.4
9.9
15.0

10.2
5.8
4.2
2.9
6.3
13.5
-9.1
-5.2
11.3
-3.0

8.0
12.5
.4
6.2
13.1
-3.5
-10.5
5.9
12.3
13.2

3.0
4.7
-.2
2.9
4.5
-1.2
6.8
-3.7
9.5
5.4

8.2
7.8
-2.7
7.3
5.2
-8.6
-3.7
-.4
4.7
8.9

7.4
7.7
.4
4.8
7.3
0
-4.1
-.8
9.5
6.1

-6.4
3.6
-1.1
6.5
0
-30.2
1.0
-4.7

-11.6
0
11.9
5.4
7.1
-12.1
8.1
-16.9

-10.7
8.5
5.7
6.5
17.9
-10.4
14.5
-9.4

1.1
3.5
6.9
-1.0
11.1
-3.9
2.9
-8.5

-13.8
-4.5
8.0
20.4
4.9
11.7
-4.7
-19.8

-1.1
-1.1
4.5
9.6
-1.9
33.2
-1.0
-15.1

-7.7
-4.9
2.0
11.4
3.1
14.5
-12.4
2.8

-29.5
-1.4
8.4
5.5
13.5
-10.9
13.2

-9.6
4.0
5.5
6.1
8.3
-17.6
7.9
-10.3

-4.6
-.7
6.5
9.7
4.7
13.7
-.9
-14.5

-12.8
-.7
5.6
8.2
7.4
-.1
1.9
-5.7

930c. Change h composite index of six lagpng indicators over 3-month spans4
[Annual rate, percent]

Average for period

1947
1948
1949
1950
1951
1952
1953
1954

4.1
-2.0
11.8
17.6
12.0
-6.7

4.1
-7.9
26.0
11.8
8.6
-14.2

7.9
0
-5.0
23.3
3.2
15.0
-16.8

4.4
0
-1.0
18.6
8.2
21.6
-15.7

4.4
-3.0
2.1
19.2
11.5
21.5
-13.5

10.1
-3.0
-3.1
17.9
14.1
12.9
-8.4

20.8
-9.6
-2.0
13.8
4.8
5.8
-9.8

14.1
7.1
-2.3
8.0
-7.9

9.8
0
33.7
7.0
-4.5
8.7
-7.9

8.5
0
45.4
10.6
3.1
7.2
-3.7

3.1
6.3
20.3
19.0
8.8
4.2
-2.2

11.8
-4.0
14.2
21.6
13.0
-1.4
-3.0

2.7
-5.0
20.4
10.9
11.9
-12.6

6.3
-2.0
-.7
18.6
11.3
18.7
-12.5

17.5
-6.1
15.3
9.3
-.7
7.5
-8.5

7.8
.8
26.6
17.1
8.3
3.3
-3.0

-1.2
9.1
16.3
7.4
10.3
-9.1

1955
1956
1957
1958
1959
1960
1961
1962
1963
1964

-2.2
5.5
0
-17.0
1.3
-1.0
1.1
5.1
3.1
4.0

.8
12.7
3.7
-20.1
-2.5
9.9
-7.1
5.0
1.5
4.9

0
17.7
4.9
-20.5
1.3
13.4
-8.6
3.8
2.1
9.6

3.8
26.9
9.3
-24.5
13.8
13.2
-10.5
7.3
2.1
2.9

7.0
22.6
6.7
-30.0
27.3
13.1
-10.6
9.5
3.6
4.4

12.7
25.1
3.6
-27.3
35.7
10.2
-8.8
7.7
6.3
0

27.2
6.4
18.2
-15.7
36.1
-1.0
-7.3
7.7
7.9
7.4

24.2
9.6
27.0
1.3
46.2
-16.9
-1.6
5.4
6.7
7.8

33.0
-.6
21.4
9.3
46.1
-16.1
-1.1
6.5
6.2
14.1

22.2
10.9
9.3
12.9
31.1
-9.8
-2.7
7.0
10.9
3.3

18.8
3.1
5.1
7.8
.5
7.6
-2.2
7.5
10.9
.9

13.0
6.2
0
.6
-7.1
4.8
3.9
4.2
6.1
1.9

-.5
12.0
2.9
-19.2
0
7.4
-4.9
4.6
2.2
6.2

7.8
24.9
6.5
-27.3
25.6
12.2
-10.0
8.2
4.0
2.4

28.1
5.1
22.2
-1.7
42.8
-11.3
-3.3
6.5
6.9
9.8

18.0
6.7
4.8
7.1
8.2
.9
-.3
6.2
9.3
2.0

13.4
12.2
9.1
-10.3
19.2
2.3
-4.6
6.4
5.6
5.1

1965
1966
1967
1968
1969
1970
1971
1972
1973
1974

9.7
6.2
2.4
3.3
9.6
13.2
-13.4
-6.6
8.6
2.8

10.1
5.8
4.1
2.8
6.3
12.3
-9.4
-5.5
11.1
-3.1

9.0
9.9
3.7
5.3
8.3
-3.8
-6.8
1.2
12.6
3.5

9.9
10.2
2.4
4.5
9.4
-4.1
-5.4
3.5
8.9
8.3

7.9
12.5
.4
6.1
13.1
-3.8
-11.0
5.9
12.0
12.9

3.6
10.5
1.2
1.6
8.9
-.7
-4.4
2.7
9.9
5.3

4.1
8.2
-1.6
2.8
7.2
1.8
-1.1
-.4
9.1
1.7

2.7
4.6
-.4
2.8
4.5
-1.4
6.6
-3.7
9.3
5.2

6.9
2.9
-1.6
4.4
6.8
0
1.5
-1.1
4.7
5.6

5.4
6.3
-.8
4.0
5.2
-4.5
-3.7
.4
5.8
8.8

8.2
7.6
-2.8
7.2
5.2
-8.8
-3.7
-.4
4.7
8.7

5.4
6.7
-1.2
9.3
14.0
-14.6
-7.3
4.3
4.7
8.0

9.6
7.3
3.4
3.8
8.1
7.2
-9.9
-3.6
10.8
1.1

7.1
11.1
1.3
4.1
10.5
-2.9
-6.9
4.0
10.3

4.6
5.2
-1.2
3.3
6.2
.1
2.3
-1.7
7.7
4.2

6.3
6.9
-1.6
6.8
8.1
-9.3
-4.9
1.4
5.1
8.5

6.9
7.6
.5
4.5
8.2
-1.2
-4.8
0
8.4
5.6

1975
1976
1977
1978
1979
1980
1981
1982

-2.3
-3.4
1.9
9.9
9.2
2.6
2.0
2.6

-8.0
-4.9
1.9
11.0
2.7
13.7
-12.4
2.6

-17.8
-5.6
3.5
.7
8.7
20.8
-8.6
-.6

-19.3
-1.5
3.5
4.4
4.4
8.1
5.1
-.6

-29.7
-1.5
8.3
5.1
12.3
-13.7
11.9
-1.0

-22.8
1.6
5.9
10.0
2.0
-28.2
12.3
-5.0

-19.3
-.8
7.8
7.3
6.8
-25.3
3.6
-8.4

-9.6
3.9
5.4
6.1
8.1
-18.1
7.7
-10.5

-7.2
3.9
8.1
3.5
11.9
-8.9
8.4
-11.7

-8.0
2.3
6.9
8.3
11.2
-1.3
4.0
-12.7

-4.8
-.8
6.5
9.3
4.6
12.6
-1.0
-14.6

-6.3
-1.5
12.0
14.2
1.3
9.4
3.6
-15.0

-9.4
-4.6
2.4
7.2
6.9
12.4
-6.3
1.5

-23.9
-.5
5.9
6.5
6.2
-11.3
9.8
-2.2

-12.0
2.3
7.1
5.6
8.9
-17.4
6.6
-10.2

-6.4
0
8.5
10.6
5.7
6.9
2.2
-14.1

-12.9
-.7
6.0
7.5
6.9
-2.4
3.0
-6.2

See footnotes at end of this part.




135

Quarterly

Monthly

Year

Feb.

Mar.

Apr.

May

June

July

Aug.

Sept.

Oct.

Nov.

Dec.

940. Ratio, coincident composite index to lagging
[1967=100]

iS_

HO

HI 0

IV Q

Annual

Average for period

1947
1948
1949
1950
1951
1952
1953
1954

137.4
123.8
121.9
134.6
115.3
119.7
103.6

135.6
122.1
122.1
131.4
116.9
119.5
104.7

136.2
121.3
127.2
129.4
115.6
120.0
105.5

134.8
120.2
129.6
128.4
115.6
117.6
106.9

135.2
118.2
132.1
126.8
114.6
115.0
107.3

136.9
118.9
135.8
124.5
111.9
113.9
108.5

135.0
117.4
142.1
121.9
109.6
114.1
108.5

131.8
120.2
146.0
122.3
115.4
111.9
109.7

130.5
123.2
139.2
121.1
118.7
109.5
110.9

132.1
115.1
135.3
120.5
120.9
108.6
112.1

128.4
118.9
131.3
119.7
120.1
106.2
114.0

127.8
119.8
136.0
116.8
119.6
103.9
115.7

136.4
122.4
123.7
131.8
115.9
119.7
104.6

135.6
119.1
132.5
126.6
114.0
115.5
107.6

132.4
120.3
142.4
121.8
114.6
111.8
109.7

129.4
117.9
134.2
119.0
120.2
106.2
113.9

133.5
119.9
133.2
124.8
116.2
113.3
109.0

1955
1956
1957
1958
1959
1960
1961
1962
1963
1964

117.7
113.8
103.9
89.6
104.5
96.0
87.4
97.6
95.6
96.0

118.2
113.3
105.1
90.9
105.8
94.0
87.2
98.9
96.2
95.8

119.8
111.4
104.3
89.7
107.0
92.2
88.8
99.1
96.3
95.3

122.2
110.1
102.2
90.0
108.6
92.2
90.0
98.9
97.1
95.9

122.6
107.0
101.2
94.7
106.8
90.2
91.7
98.5
97.2
97.0

121.7
106.2
101.5
98.1
103.7
88.7
94.0
97.4
97.0
96.3

122.1
99.7
101.0
100.8
101.2
88.4
94.7
97.5
96.6
97.7

117.2
105.1
97.3
102.7
95.4
88.9
95.9
97.4
96.1
97.1

117.2
104.6
94.6
101.1
90.4
91.4
95.6
96.9
96.4
96.7

115.8
105.5
94.3
100.9
88.6
91.2
97.1
96.5
96.7
94.8

114.1
104.2
91.7
103.8
89.4
89.1
99.2
96.4
94.6
97.7

114.8
105.3
89.3
101.9
94.3
87.0
99.2
95.4
95.0
98.8

118.6
112.8
104.4
90.1
105.8
94.1
87.8
98.5
96.0
95.7

122.2
107.8
101.6
94.3
106.4
90.4
91.9
98.3
97.1
96.4

118.8
103.1
97.6
101.5
95.7
89.6
95.4
97.3
96.4
97.2

114.9
105.0
91.8
102.2
90.8
89.1
98.5
96.1
95.4
97.1

118.6
107.2
98.9
97.0
99.6
90.8
93.4
97.5
96.2
96.6

1965
1966
1967
1968
1969
1970
1971
1972
1973
1974

98.2
101.3
100.1
103.0
104.0
96.5
99.5
109.2
118.2
112.3

98.1
101.1
99.2
103.1
104.1
96.5
99.7
109.8
118.4
111.9

98.4
101.9
98.6
103.7
104.3
96.3
100.5
110.7
118.4
112.5

98.2
101.0
98.9
103.3
103.6
97.2
101.8
111.4
116.3
110.4

97.9
100.4
98.8
103.6
102.6
96.9
102.1
111.5
116.3
109.9

98.4
100.7
98.8
104.1
102.0
96.2
104.4
1U.4
115.4
109.6

99.7
100.3
99.0
105.0
102.6
96.7
103.4
111.8
114.9
109.5

98.8
100.1
100.5
104.5
102.4
95.8
102.1
113.6
114.1
108.6

99.7
100.2
100.1
104.5
102.0
96.0
103.0
114.3
113.7
106.7

100.0
100.6
100.2
105.0
101.6
94.0
103.6
115.9
114.5
105.5

100.2
99.3
102.4
105.1
100.5
93.8
104.7
117.2
115.1
102.1

100.8
99.3
103.7
104.4
100.2
96.9
105.9
118.8
113.4
97.8

98.2
101.4
99.3
103.3
104.1
96.4
99.9
109.9
118.3
112.2

98.2
100.7
98.8
103.7
102.7
96.8
102.8
111.1
116.0
110.0

99.4
100.2
99.9
104.7
102.3
96.2
102.8
113.2
114.2
108.3

100.3
99.7
102.1
104.8
100.8
94.9
104.7
117.3
114.3
101.8

99.0
100.5
100.0
104.1
102.5
96.1
102.6
112.9
115.7
108.1

1975
1976
1977
1978
1979
1980
1981
1982

96.0
116.4
123.6
123.1
125.3
119.4
120.6
109.8

96.3
118.4
123.9
123.9
124.8
117.7
122.0
111.7

95.3
119.7
125.6
124.7
127.3
113.7
123.7
111.3

98.4
120.9
125.7
128.1
122.5
109.7
123.6
109.6

101.2
120.5
126.0
126.9
124.5
109.9
120.2
111.0

105.8
121.3
125.7
126.8
123.1
112.4
120.5
110.0

107.0
121.4
126.5
126.9
123.5
115.6
120.5
109.7

109.7
121.6
125.6
127.1
122.4
117.2
119.5
110.4

111.5
120.9
126.1
126.6
120.6
119.5
117.5
110.8

111.8
120.2
126.1
127.8
119.5
121.2
115.6
110.1

113.6
122.2
125.9
126.7
118.7
121.0
114.9
112.1

114.2
123.2
126.2
126.9
119.0
118.8
113.3
113.6

95.9
118.2
124.4
123.9
125.8
116.9
122.1
110.9

101.8
120.9
125.8
127.3
123.4
110.7
121.4
110.2

109.4
121.3
126.1
126.9
122.2
117.4
119.2
110.3

113.2
121.9
126.1
127.1
119.1
120.3
114.6
111.9

105.1
120.6
125.6
126.3
122.6
116.3
119.3
110.8

950.DWu$»nindei(rfl2lea<lRcino1catorcoiivonent$
[Percent rising over 1-month spans]
1947
1948

1949IZZ

"m

1950
1951
1952
1953
1954

83.3
50.0
58.3
50.0
58.3

20.0
37.5
83.3
54.2
54.2
50.0
75.0

70.0
33.3
54.2
50.0
50.0
66.7
50.0

65.0
25.0
87.5
41.7
29.2
45.8
83.3

30.0
58.3
75.0
29.2
70.8
25.0
83.3

54.2
41.7
58.3
16.7
91.7
16.7
91.7

37.5
75.0
75.0
25.0
50.0
41.7
79.2

8.3
75.0
66.7
45.8
50.0
37.5
58.3

16.7
91.7
41.7
66.7
75.0
12.5
79.2

62.5
62.5
41.7
54.2
45.8
50.0
100.0

12.5
50.0
12.5
50.0
58.3
33.3
83.3

33.3
50.0
41.7
62.5
58.3
70.8
54.5

33.3
73.6
51.4
54.2
55.6
61.1

49.7
41.7
73.6
29.2
63.9
29.2
86.1

20.8
80.6
61.1
45.8
58.3
30.6
72.2

36.1
54.2
32.0
55.6
54.1
51.4
79.3

52.4
60.1
45.5
57.6
41.7
74.7

1955
1956
1957
1958
1959
1960
1961
1962
1963
1964

72.7
45.8
16.7
58.3
75.0
29.2
62.5
41.7
62.5
66.7

87.5
25.0
37.5
29.2
75.0
37.5
58.3
87.5
66.7
58.3

66.7
50.0
50.0
58.3
87.5
8.3
87.5
50.0
66.7
45.8

45.8
58.3
25.0
50.0
62.5
58.3
83.3
50.0
66.7
87.5

50.0
16.7
58.3
83.3
62.5
54.2
79.2
16.7
66.7
83.3

62.5
33.3
66.7
87.5
37.5
62.5
79.2
25.0
45.8
45.8

62.5
41.7
33.3
91.7
29.2
54.2
66.7
87.5
45.8
70.8

54.2
37.5
41.7
75.0
58.3
33.3
83.3
79.2
50.0
75.0

54.2
41.7
37.5
91.7
41.7
66.7
50.0
75.0
83.3
75.0

20.8
41.7
33.3
66.7
25.0
16.7
79.2
54.2
79.2
58.3

66.7
58.3
0
79.2
33.3
33.3
75.0
62.5
45.8
62.5

37.5
33.3
29.2
45.8
66.7
37.5
70.8
41.7
62.5
58.3

75.6
40.3
34.7
48.6
79.2
25.0
69.4
59.7
65.3
56.9

52.8
36.1
50.0
73.6
54.2
58.3
80.6
30.6
59.7
72.2

57.0
40.3
37.5
86.1
43.1
51.4
66.7
80.6
59.7
73.6

41.7
44.4
20.8
63.9
41.7
29.2
75.0
52.8
62.5
59.7

56.8
40.3
35.8
68.1
54.5
41.0
72.9
55.9
61.8
65.6

1965
1966
1967
1968
1969
1970
1971
1972
1973
1974

83.3
79.2
62.5
45.8
75.0
13.6
66.7
79.2
75.0
41.7

70.8
66.7
41.7
58.3
41.7
18.2
66.7
79.2
75.0
41.7

58.3
66.7
54.2
41.7
20.8
16.7
66.7
79.2
41.7
41.7

45.8
45.8
50.0
33.3
66.7
25.0
58.3
62.5
41.7
25.0

75.0
12.5
66.7
54.2
29.2
75.0
50.0
33.3
50.0
25.0

37.5
20.8
79.2
66.7
37.5
58.3
41.7
75.0
33.3
25.0

41.7
25.0
75.0
66.7
25.0
54.2
50.0
58.3
41.7
45.8

50.0
33.3
100.0
45.8
37.5
41.7
50.0
79.2
20.8
12.5

50.0
16.7
58.3
87.5
58.3
70.8
66.7
70.8
41.7
25.0

62.5
25.0
33.3
87.5
33.3
50.0
66.7
75.0
54.2
12.5

66.7
29.2
70.8
66.7
16.7
58.3
75.0
66.7
54.2
16.7

83.3
41.7
87.5
62.5
41.7
75.0
83.3
66.7
16.7
25.0

70.8
70.9
52.8
48.6
45.8
16.2
66.7
79.2
63.9
41.7

52.8
26.4
65.3
51.4
44.5
52.8
50.0
56.9
41.7
25.0

47.2
25.0
77.8
66.7
40.3
55.6
55.6
69.4
34.7
27.8

70.8
32.0
63.9
72.2
30.6
61.1
75.0
69.5
41.7
18.1

60.4
38.6
64.9
59.7
40.3
46.4
61.8
68.8
45.5
28.1

1975
1976
1977
1978
1979
1980
1981
1982

25.0
83.3
58.3
25.0
66.7
58.3
8.3
45.8

33.3
58.3
75.0
62.5
41.7
25.0
33.3
58.3

41.7
66.7
66.7
75.0
79.2
33.3
58.3
33.3

95.8
66.7
54.2
54.2
29.2
12.5
100.0
66.7

83.3
54.2
62.5
41.7
45.8
25.0
41.7
37.5

83.3
62.5
83.3
50.0
25.0
50.0
25.0
37.5

83.3
66.7
25.0
29.2
29.2
79.2
33.3
58.3

41.7
50.0
83.3
58.3
16.7
83.3
41.7
66.7

66.7
50.0
54.2
58.3
58.3
91.7
8.3
62.5

66.7
58.3
70.8
70.8
16.7
54.2
25.0
66.7

58.3
66.7
58.3
54.2
25.0
66.7
50.0
58.3

50.0
50.0
54.2
50.0
41.7
41.7
29.2
66.7

33.3
69.4
66.7
54.2
62.5
38.9
33.3
45.8

87.5
61.1
66.7
48.6
33.3
29.2
55.6
47.2

63.9
55.6
54.2
48.6
34.7
84.7
27.8
62.5

58.3
58.3
61.1
58.3
27.8
54.2
34.7
63.9

60.8
61.1
62.2
52.4
39.6
51.7
37.8
54.9

18.3
94.4
69.5
33.3
77.8
13.9
97.2

11.1
97.2
37.5
69.5
75.0
41.7
97.2

68.1
72.6
39.9
73.6
26.7
86.5

950. Diffusion index of 12 leading indicator
[Percent rising over 6-month spans]
1947
1948
1949....
1950
1951
1952
1953
1954

25.0
95.8
41.7
58.3
54.2
58.3

25.0
100.0
45.8
58.3
33.3
66.7

1955
1956
1957
1958
1959
1960
1961
1962
1963
1964

91.7
58.3
12.5
33.3
91.7
29.2
54.2
66.7
75.0
83.3

1965
1966
1967
1968
1969
1970
1971
1972
1973
1974
1975
1976
1977
1978
1979
1980
1981
1982

Average for period

16.7
100.0
25.0
66.7
25.0
79.2

40.0
25.0
95.8
16.7
75.0
16.7
91.7

50.0
58.3
83.3
16.7
66.7
16.7
70.8

20.0
91.7
75.0
25.0
100.0
8.3
87.5

30.0
83.3
75.0
25.0
75.0
8.3
91.7

16.7
100.0
66.7
33.3
83.3
8.3
100.0

8.3
100.0
66.7
41.7
75.0
25.0
100.0

8.3
91.7
45.8
66.7
83.3
33.3
91.7

8.3
100.0
16.7
66.7
83.3
41.7
100.0

16.7
100.0
50.0
75.0
58.3
50.0
100.0

22.2
98.6
37.5
61.1
37.5
68.1

36.7
58.3
84.7
19.5
80.6
13.9
83.3

83.3
25.0
8.3
50.0
83.3
41.7
91.7
29.2
91.7
83.3

81.8
25.0
12.5
79.2
83.3
16.7
91.7
33.3
83.3
83.3

91.7
25.0
25.0
91.7
75.0
16.7
91.7
50.0
91.7
83.3

87.5
33.3
33.3
100.0
45.8
33.3
100.0
29.2
75.0
83.3

66.7
12.5
25.0
100.0
29.2
41.7
91.7
37.5
75.0
83.3

58.3
8.3
25.0
100.0
25.0
41.7
91.7
54.2
83.3
66.7

66.7
50.0
0
100.0
8.3
33.3
91.7
75.0
79.2
70.8

58.3
33.3
0
100.0
25.0
33.3
91.7
70.8
70.8
91.7

50.0
45.8
8.3
91.7
25.0
33.3
83.3
87.5
66.7
83.3

33.3
25.0
8.3
83.3
25.0
33.3
100.0
79.2
91.7
75.0

29.2
33.3
20.8
91.7
8.3
37.5
95.8
75.0
70.8
62.5

85.6
36.1
11.1
54.2
86.1
29.2
79.2
43.1
83.3
83.3

82.0
23.6
27.8
97.2
50.0
30.6
94.5
38.9
80.6
83.3

61.1
30.5
8.3
100.0
19.4
36.1
91.7
66.7
77.8
76.4

37.5
34.7
12.5
88.9
19.4
34.7
93.0
80.6
76.4
73.6

66.5
31.2
14.9
85.1
43.7
32.6
89.6
57.3
79.5
79.2

62.5
83.3
33.3
70.8
75.0
8.3
100.0
100.0
75.0
16.7

70.8
66.7
41.7
62.5
45.8
16.7
100.0
91.7
58.3
8.3

58.3
45.8
58.3
50.0
25.0
25.0
79.2
83.3
75.0
25.0

41.7
37.5
66.7
66.7
33.3
18.2
70.8
83.3
45.8
29.2

45.8
20.8
83.3
54.2
25.0
25.0
66.7
83.3
16.7
8.3

50.0
16.7
91.7
70.8
41.7
33.3
66.7
83.3
16.7
8.3

75.0
0
100.0
87.5
8.3
33.3
50.0
87.5
20.8
8.3

66.7
4.2
100.0
91.7
0
33.3
75.0
91.7
20.8
0

83.3
8.3
100.0
91.7
8.3
50.0
75.0
91.7
20.8
0

100.0
25.0
91.7
91.7
18.2
58.3
100.0
91.7
25.0
0

83.3
33.3
83.3
91.7
8.3
83.3
91.7
91.7
20.8
8.3

83.3
45.8
70.8
75.0
0
100.0
91.7
87.5
16.7
8.3

63.9
65.3
44.4
61.1
48.6
16.7
93.1
91.7
69.4
16.7

45.8
25.0
80.6
63.9
33.3
25.5
68.1
83.3
26.4
15.3

75.0
4.2
100.0
90.3
5.5
38.9
66.7
90.3
20.8
2.8

88.9
34.7
81.9
86.1
8.8
80.5
94.5
90.3
20.8
5.5

68.4
32.3
76.7
75.4
24.1
40.4
80.6
88.9
34.4
10.1

33.3
83.3
91.7
83.3
33.3
8.3
75.0
41.7

50.0
100.0
91.7
87.5
25.0
16.7
54.2
41.7

66.7
87.5
83.3
83.3
33.3
16.7
58.3
45.8

91.7
83.3
75.0
83.3
25.0
8.3
45.8
66.7

100.0
66.7
75.0
62.5
16.7
33.3
58.3
50.0

100.0
66.7
62.5
41.7
25.0
50.0
33.3
45.8

91.7
54.2
75.0
41.7
25.0
83.3
8.3
50.0

87.5
62.5
62.5
58.3
16.7
95.8
16.7
41.7

83.3
66.7
66.7
41.7
25.0
95.8
8.3
62.5

91.7
41.7
66.7
58.3
20.8
75.0
8.3
83.3

91.7
66.7
58.3
54.2
20.8
58.3
8.3
87.5

100.0
66.7
79.2
62.5
8.3
50.0
25.0
83.3

50.0
90.3
88.9
84.7
30.5
13.9
62.5
43.1

97.2
72.2
70.8
62.5
22.2
30.5
45.8
54.2

87.5
61.1
68.1
47.2
22.2
91.6
11.1
51.4

94.5
58.4
68.1
58.3
16.6
61.1
13.9
84.7

82.3
70.5
74.0
63.2
22.9
49.3
33.3
58.3

136



Year

Quarterly

Monthly
Jan.

Feb.

Mar.

Apr.

May

June

July

Aug.

Sept.

Oct.

Nov.

Dec.

_LQ_

IV Q

951. Diffusion index of four roughly coincident indicator
[Percent rising over 1-month spans]

Annual

Average for period

1947
1948
1949
1950
1951
1952
1953
1954

0
75.0
75.0
75.0
100.0
25.0

62.5
0
50.0
50.0
100.0
100.0
50.0

75.0
25.0
100.0
75.0
50.0
100.0
0

50.0
0
100.0
62.5
50.0
75.0
25.0

75.0
25.0
100.0
50.0
62.5
62.5
50.0

100.0
37.5
100.0
50.0
50.0
50.0
75.0

62.5
0
100.0
12.5
0
62.5
37.5

62.5
100.0
100.0
50.0
100.0
0
25.0

50.0
100.0
50.0
25.0
100.0
0
100.0

75.0
0
75.0
87.5
87.5
25.0
100.0

12.5
100.0
50.0
62.5
50.0
25.0
100.0

25.0
75.0
100.0
75.0
100.0
0
100.0

8.3
75.0
66.7
75.0
100.0
25.0

75.0
20.8
100.0
54.2
54.2
62.5
50.0

58.3
66.7
83.3
29.2
66.7
20.8
54.2

37.5
58.3
75.0
75.0
79.2
16.7
100.0

38.5
83.3
56.2
68.8
50.0
57.3

1955
1956
1957
1958
1959
1960
1961
1962
1963
1964..:.

100.0
50.0
25.0
0
75.0
100.0
50.0
25.0
62.5
100.0

100.0
50.0
100.0
12.5
100.0
25.0
37.5
87.5
100.0
100.0

100.0
62.5
62.5
0
100.0
0
100.0
100.0
100.0
62.5

100.0
100.0
25.0
0
100.0
75.0
62.5
100.0
100.0
100.0

100.0
25.0
0
75.0
100.0
37.5
100.0
62.5
75.0
100.0

75.0
75.0
75.0
100.0
100.0
12.5
100.0
50.0
100.0
75.0

100.0
0
62.5
100.0
37.5
0
75.0
100.0
75.0
100.0

50.0
100.0
62.5
75.0
0
0
100.0
100.0
75.0
75.0

100.0
100.0
0
100.0
25.0
25.0
75.0
62.5
100.0
100.0

75.0
100.0
0
87.5
50.0
25.0
100.0
100.0
100.0
12.5

100.0
62.5
0
100.0
75.0
0
100.0
87.5
50.0
100.0

100.0
100.0
0
75.0
100.0
25.0
100.0
37.5
75.0
100.0

100.0
54.2
62.5
4.2
91.7
41.7
62.5
70.8
87.5
87.5

91.7
66.7
33.3
58.3
100.0
41.7
87.5
70.8
91.7
91.7

83.3
66.7
41.7
91.7
20.8
8.3
83.3
87.5
83.3
91.7

91.7
87.5
0
87.5
75.0
16.7
100.0
75.0
75.0
70.8

91.7
68.8
34.4
60.4
71.9
27.1
83.3
76.0
84.4
85.4

1965
1966
1967
1968
1969
1970
1971
1972
1973
1974

75.0
100.0
100.0
25.0
75.0
0
100.0
100.0
100.0
50.0

100.0
100.0
25.0
75.0
100.0
75.0
50.0
75.0
100.0
25.0

100.0
100.0
75.0
100.0
100.0
62.5
87.5
100.0
75.0
62.5

100.0
75.0
75.0
75.0
75.0
25.0
100.0
100.0
50.0
37.5

75.0
75.0
75.0
100.0
50.0
37.5
100.0
100.0
75.0
87.5

100.0
100.0
75.0
100.0
100.0
25.0
62.5
75.0
75.0
75.0

100.0
75.0
75.0
75.0
100.0
100.0
50.0
62.5
87.5
50.0

75.0
100.0
100.0
75.0
100.0
25.0
37.5
100.0
37.5
12.5

87.5
75.0
75.0
87.5
87.5
37.5
87.5
100.0
100.0
37.5

100.0
100.0
37.5
100.0
100.0
0
62.5
100.0
100.0
37.5

100.0
50.0
100.0
100.0
0
0
100.0
100.0
100.0
0

100.0
87.5
100.0
75.0
62.5
100.0
100.0
100.0
25.0
0

91.7
100.0
66.7
66.7
91.7
45.8
79.2
91.7
91.7
45.8

91.7
83.3
75.0
91.7
75.0
29.2
87.5
91.7
66.7
66.7

87.5
83.3
83.3
79.2
95.8
54.2
58.3
87.5
75.0
33.3

100.0
79.2
79.2
91.7
54.2
33.3
87.5
100.0
75.0
12.5

92.7
86.5
76.0
82.3
79.2
40.6
78.1
92.7
77.1
39.6

1975
1976
1977
1978
1979
1980
1981
1982

25.0
100.0
87.5
25.0
50.0
100.0
100.0
0

25.0
100.0
100.0
100.0
75.0
12.5
87.5
87.5

0
100.0
100.0
100.0
100.0
25.0
75.0
37.5

62.5
100.0
100.0
100.0
12.5
0
50.0
25.0

100.0
75.0
87.5
62.5
87.5
0
50.0
75.0

75.0
75.0
100.0
75.0
75.0
37.5
100.0
0

75.0
100.0
75.0
75.0
87.5
50.0
75.0
25.0

100.0
75.0
100.0
100.0
50.0
75.0
25.0
0

100.0
50.0
100.0
75.0
50.0
100.0
37.5
25.0

87.5
50.0
100.0
100.0
62.5
100.0
0
0

87.5
100.0
100.0
100.0
50.0
75.0
0
50.0

75.0
100.0
100.0
100.0
100.0
100.0
0
75.0

16.7
100.0
95.8
75.0
75.0
45.8
87.5
41.7

79.2
83.3
95.8
79.2
58.3
12.5
66.7
33.3

91.7
75.0
91.7
83.3
62.5
75.0
45.8
16.7

83.3
83.3
100.0
100.0
70.8
91.7
0
41.7

67.7
85.4
95.8
84.4
66.7
56.2
50.0
33.3

951. Diffusion index of four roughly
[Percent rising over

Average for period

«pans]

1947
1948
1949
1950
1951
1952
1953
1954

0
100.0
75.0
100.0
100.0
0

0
100.0
100.0
100.0
100.0
0

0
100.0
75.0
62.5
100.0
25.0

100.0
0
100.0
50.0
50.0
100.0
50.0

100.0
0
100.0
50.0
100.0
62.5
25.0

100.0
50.0
100.0
50.0
100.0
0
62.5

100.0
0
100.0
62.5
100.0
12.5
50.0

75.0
50.0
100.0
75.0
100.0
0
100.0

50.0
50.0
100.0
50.0
100.0
0
100.0

0
100.0
75.0
100.0
100.0
0
100.0

0
75.0
75.0
100.0
100.0
0
100.0

0
100.0
75.0
100.0
100.0
0
100.0

0
100.0
83.3
87.5
100.0
8.3

100.0
16.7
100.0
50.0
83.3
54.2
45.8

75.0
33.3
100.0
62.5
100.0
4.2
83.3

0
91.7
75.0
100.0
100.0
0
100.0

35.4
93.8
74.0
92.7
39.6
59.4

1955
1956
1957
1958
1959
1960
1961
1962
1963
1964

100.0
100.0
50.0
0
100.0
100.0
25.0
100.0
100.0
100.0

100.0
62.5
62.5
0
100.0
100.0
75.0
100.0
100.0
100.0

100.0
50.0
50.0
0
100.0
50.0
100.0
100.0
100.0
100.0

100.0
25.0
62.5
37.5
100.0
50.0
100.0
100.0
100.0
100.0

100.0
62.5
25.0
75.0
75.0
25.0
100.0
100.0
100.0
100.0

100.0
100.0
25.0
100.0
50.0
25.0
100.0
100.0
100.0
100.0

100.0
100.0
25.0
100.0
12.5
25.0
100.0
100.0
100.0
100.0

100.0
100.0
12.5
100.0
50.0
0
100.0
100.0
100.0
100.0

100.0
100.0
0
100.0
50.0
0
100.0
100.0
100.0
100.0

100.0
100.0
0
100.0
100.0
0
100.0
100.0
100.0
100.0

100.0
100.0
0
100.0
100.0
0
100.0
100.0
100.0
100.0

75.0
100.0
0
100.0
100.0
25.0
100.0
100.0
100.0
100.0

100.0
70.8
54.2
0
100.0
83.3
66.7
100.0
100.0
100.0

100.0
62.5
37.5
70.8
75.0
33.3
100.0
100.0
100.0
100.0

100.0
100.0
12.5
100.0
37.5
8.3
100.0
100.0
100.0
100.0

91.7
100.0
0
100.0
100.0
8.3
100.0
100.0
100.0
100.0

97.9
83.3
26.0
67.7
78.1
33.3
91.7
100.0
100.0
100.0

1965
1966
1967
1968
1969
1970
1971
1972
1973
1974

100.0
100.0
75.0
100.0
100.0
50.0
100.0
100.0
100.0
50.0

100.0
100.0
75.0
100.0
100.0
50.0
100.0
100.0
100.0
25.0

100.0
100.0
75.0
100.0
100.0
25.0
100.0
100.0
100.0
75.0

100.0
100.0
75.0
100.0
100.0
37.5
100.0
100.0
100.0
62.5

100.0
100.0
100.0
100.0
100.0
25.0
100.0
100.0
75.0
50.0

100.0
75.0
100.0
100.0
100.0
50.0
100.0
100.0
75.0
50.0

100.0
100.0
100.0
100.0
100.0
0
100.0
100.0
100.0
25.0

100.0
100.0
100.0
100.0
100.0
0
100.0
100.0
100.0
0

100.0
100.0
100.0
100.0
87.5
0
100.0
100.0
100.0
0

100.0
100.0
100.0
100.0
50.0
50.0
100.0
100.0
50.0
0

100.0
100.0
100.0
100.0
50.0
50.0
100.0
100.0
50.0
0

100.0
75.0
100.0
100.0
50.0
75.0
100.0
100.0
50.0
0

100.0
100.0
75.0
100.0
100.0
41.7
100.0
100.0
100.0
50.0

100.0
91.7
91.7
100.0
100.0
37.5
100.0
100.0
83.3
54.2

100.0
100.0
100.0
100.0
95.8
0
100.0
100.0
100.0
8.3

100.0
91.7
100.0
100.0
50.0
58.3
100.0
100.0
50.0
0

100.0
95.8
91.7
100.0
86.5
34.4
100.0
100.0
83.3
28.1

1975
1976
1977
1978
1979
1980
1981
1982

0
100.0
100.0
100.0
75.0
25.0
100.0
0

0
100.0
100.0
100.0
100.0
0
100.0
50.0

0
100.0
100.0
100.0
87.5
0
100.0
50.0

75.0
100.0
100.0
100.0
100.0
0
75.0
25.0

100.0
100.0
100.0
100.0
75.0
0
75.0
0

100.0
100.0
100.0
100.0
50.0
0
50.0
0_

100.0
100.0
100.0
100.0
100.0
50.0
50.0
0

100.0
100.0
100.0
100.0
50.0
100.0
25.0
0

100.0
100.0
100.0
100.0
50.0
100.0
12.5
0

100.0
100.0
100.0
100.0
62.5
100.0
0
50.0

100.0
100.0
100.0
100.0
50.0
100.0
0
50.0

100.0
100.0
100.0
100.0
25.0
100.0
0
75.0

0
100.0
100.0
100.0
87.5
8.3
100.0
33.3

91.7
100.0
100.0
100.0
75.0
0
66.7
8.3

100.0
100.0
100.0
100.0
66.7
83.3
29.2
0

100.0
100.0
100.0
100.0
45.8
100.0
0
58.3

72.9
100.0
100.0
100.0
68.8
47.9
49.0
25.0

50.0
83.3
66.7
58.3
41.7
50.0
41.7

75.0
25.0
75.0
83.3
58.3
58.3
58.3

25.0
41.7
50.0
100.0
75.0
58.3
41.7

58.3
30.6
69.5
63.9
58.3
27.8

58.3
38.9
41.7
69.4
69.5
72.2
22.2

77.8
30.6
75.0
63.9
44.4
55.6
30.5

50.0
50.0
63.9
80.5
58.3
55.5
47.2

44.4
52.8
70.8
59.0
60.4
32.0

952. Diffusion index of six lagging indicator
[Percent rising over 1-month spans]

1947
1948
1949
1950
1951
1952
1953
1954

Average for period

58.3
41.7
66.7
58.3
58.3
16.7

75.0
75.0
41.7
66.7
41.7
58.3
25.0

66.7
41.7
8.3
75.0
91.7
58.3
41.7

58.3
33.3
41.7
58.3
41.7
83.3
16.7

58.3
58.3
41.7
75.0
75.0
66.7
25.0

58.3
25.0
41.7
75.0
91.7
66.7
25.0

91.7
41.7
58.3
66.7
58.3
41.7
33.3

75.0
25.0
75.0
58.3
25.0
58.3
33.3

66.7
25.0
91.7
66.7
50.0
66.7
25.0

1955
1956
1957
1958
1959
1960
1961
1962
1963
1964

50.0
91.7
66.7
25.0
33.3
41.7
41.7
83.3
33.3
25.0

58.3
75.0
16.7
33.3
58.3
91.7
50.0
33.3
41.7
91.7

58.3
83.3
75.0
41.7
58.3
91.7
25.0
58.3
50.0
75.0

41.7
66.7
91.7
41.7
58.3
66.7
41.7
83.3
50.0
58.3

58.3
100.0
75.0
0
75.0
91.7
25.0
75.0
75.0
58.3

75.0
83.3
41.7
8.3
75.0
83.3
25.0
91.7
83.3
83.3

58.3
75.0
75.0
25.0
91.7
41.7
25.0
66.7
58.3
50.0

100.0
33.3
58.3
8.3
91.7
50.0
58.3
66.7
75.0
83.3

83.3
58.3
83.3
58.3
66.7
50.0
58.3
66.7
66.7
83.3

83.3
58.3
41.7
41.7
83.3
58.3
50.0
66.7
58.3
75.0

83.3
83.3
75.0
41.7
66.7
75.0
41.7
58.3
91.7
25.0

58.3
41.7
66.7
91.7
33.3
50.0
66.7
75.0
58.3
41.7

55.5
83.3
52.8
33.3
50.0
75.0
38.9
58.3
41.7
63.9

58.3
83.3
69.5
16.7
69.4
80.6
30.6
83.3
69.4
66.6

80.5
55.5
72.2
30.5
83.4
47.2
47.2
66.7
66.7
72.2

75.0
61.1
61.1
58.4
61.1
61.1
52.8
66.7
69.4
47.2

67.3
70.8
63.9
34.7
66.0
66.0
42.4
68.8
61.8
62.5

1965
1966
1967
1968
1969
1970
1971
1972
1973
1974

75.0
66.7
50.0
75.0
75.0
91.7
8.3
8.3
83.3
50.0

58.3
75.0
58.3
58.3
83.3
33.3
33.3
41.7
91.7
66.7

58.3
66.7
58.3
50.0
66.7
50.0
16.7
66.7
41.7
0

66.7
100.0
50.0
83.3
83.3
50.0
16.7
50.0
100.0
58.3

75.0
75.0
50.0
41.7
83.3
41.7
58.3
83.3
50.0
83.3

75.0
75.0
50.0
50.0
83.3
75.0
16.7
50.0
83.3
50.0

50.0
75.0
66.7
58.3
41.7
16.7
66.7
41.7
58.3
50.0

75.0
58.3
25.0
58.3
58.3
58.3
83.3
41.7
58.3
83.3

58.3
50.0
75.0
66.7
66.7
8.3
41.7
41.7
58.3
66.7

58.3
50.0
58.3
50.0
75.0
50.0
33.3
50.0
66.7
33.3

58.3
75.0
33.3
75.0
66.7
16.7
33.3
58.3
50.0
66.7

58.3
75.0
58.3
83.3
66.7
0
33.3
41.7
75.0
50.0

63.9
69.5
55.5
61.1
75.0
58.3
19.4
38.9
72.2
38.9

72.2
83.3
50.0
58.3
83.3
55.6
30.6
61.1
77.8
63.9

61.1
61.1
55.6
61.1
55.6
27.8
63.9
41.7
58.3
66.7

58.3
66.7
50.0
69.4
69.5
22.2
33.3
50.0
63.9
50.0

63.9
70.1
52.8
62.5
70.8
41.0
36.8
47.9
68.0
54.9

1975
1976
1977
1978
1979
1980
1981
1982

41.7
33.3
33.3
83.3
83.3
50.0
8.3
75.0

16.7
50.0
58.3
66.7
58.3
75.0
25.0
33.3

33.3
33.3
41.7
75.0
41.7
66.7
41.7
33.3

0
41.7
66.7
58.3
91.7
50.0
83.3
58.3

0
58.3
83.3
83.3
41.7
50.0
66.7
41.7

0
58.3
83.3
75.0
66.7
33.3
41.7
58.3

50.0
50.0
41.7
66.7
58.3
16.7
66.7
33.3

16.7
75.0
83.3
66.7
66.7
16.7
50.0
50.0

16.7
66.7
75.0
66.7
75.0
33.3
83.3
25.0

58.3
58.3
66.7
16.7
66.7
16.7
75.0
16.7

16.7
33.3
83.3
91.7
41.7
33.3
66.7
0

50.0
33.3
75.0
66.7
33.3
33.3
75.0
16.7

30.6
38.9
44.4
75.0
61.1
63.9
25.0
47.2

0
52.8
77.8
72.2
66.7
44.4
63.9
52.8

27.8
63.9
66.7
66.7
66.7
22.2
66.7
36.1

41.7
41.6
75.0
58.4
47.2
27.8
72.2
11.1

25.0
49.3
66.0
68.1
60.4
39.6
57.0
36.8

See footnotes at end of this part.




137

Year

Jan.

Mar.

Feb.

May

Apr.

Monthly
June
July

Aug..

Sept.

Oct.

Quarterly
III 0

Dec. I IQ

Nov.

"0

952. Diffusion index of six lagging indicator components
[Percent rising over 6-month spans]

58.3
41.7
83.3
75.0
83.3
33.3

41.7
41.7
83.3
83.3
91.7
33.3

41.7
41.7
83.3
83.3
83.3

0

8.3

0

0

8.3

8.3

1955
1956
1957
1958
1959
1960
1961
1962
1963
1964

41.7
100.0
91.7
33.3
58.3
66.7
50.0
75.0
41.7
75.0

41.7
100.0
83.3
33.3
66.7
75.0
25.0
91.7
58.3
58.3

50.0
100.0
75.0

41.7
100.0
75.0

75.0
100.0
100.0

66.7
83.3
100.0

0

0

0

0

66.7
91.7
25.0
91.7
41.7
58.3

83.3
91.7
25.0
91.7
41.7
58.3

100.0
83.3
25.0
91.7
66.7
75.0

100.0
83.3
25.0
91.7
83.3
75.0

91.7
83.3
83.3
16.7
100.0
66.7
25.0
83.3
83.3
75.0

91.7
83.3
75.0
33.3
100.0
66.7
25.0
66.7
91.7
58.3

1965
1966
1967
1968
1969
1970
1971
1972
1973
1974

58.3
91.7
66.7
58.3
100.0
50.0

58.3
100.0
50.0
75.0
100.0
50.0

75.0
100.0
66.7
91.7
100.0
50.0

0

0

0

33.3
83.3
100.0

16.7
91.7
83.3

33.3
100.0
66.7

58.3
83.3
66.7
66.7
100.0
33.3
16.7
66.7
83.3
66.7

75.0
91.7
41.7
66.7
91.7
33.3
16.7
66.7
66.7
66.7

75.0
83.3
50.0
100.0
83.3
33.3
50.0
66.7
83.3
83.3

58.3
66.7
58.3
66.7
100.0
41.7
58.3
66.7
66.7
66.7

1975
1976
1977
1978
1979
1980
1981
1982

33.3
16.7
50.0
66.7
100.0
66.7
16.7
41.7

33.3
41.7
50.0
66.7
75.0
66.7
66.7
33.3

0

0

0

0

33.3
75.0
75.0
83.3
50.0
33.3
33.3

50.0
75.0
66.7
66.7
33.3
66.7
33.3

58.3
75.0
66.7
83.3
33.3
50.0
33.3

66.7
100.0
66.7
100.0
25.0
66.7
33.3

16.7
66.7
91.7
83.3
83.3
16.7
83.3
33.3

83.3
33.3
41.7
75.0
58.3
83.3

100.0
25.0
66.7
75.0
58.3
83.3

83.3
41.7
83.3
83.3
41.7
66.7

100.0
25.0
100.0
83.3
41.7
66.7

91.7
33.3
100.0
83.3
41.7
75.0

8.3

100.0
25.0
83.3
83.3
58.3
58.3
25.0

75.0
41.7
83.3
83.3
41.7
58.3
41.7

75.0
41.7
83.3
83.3
41.7
50.0
41.7

47.2
41.7
83.3
80.5
86.1
22.2

91.7
75.0
66.7
33.3
100.0
58.3
41.7
75.0
75.0
58.3

100.0
50.0
66.7
33.3
83.3
50.0
58.3
66.7
75.0
66.7

83.3
66.7
50.0
50.0
66.7
50.0
58.3
66.7
75.0
66.7

100.0
58.3
50.0
66.7
75.0
33.3
58.3
41.7
83.3
58.3

44.5
100.0
83.3
22.2
63.9
77.8
33.3
86.1
47.2
63.9

58.3
83.3
33.3
66.7
83.3
33.3
50.0
50.0
91.7
58.3

75.0
83.3
33.3
83.3
83.3
16.7
50.0
50.0
100.0
50.0

66.7
83.3
33.3
100.0
75.0

66.7
58.3
50.0
91.7
75.0

83.3
66.7
33.3
91.7
50.0
0
16.7
66.7
66.7
33.3

63.9
97.2
61.1
75.0
100.0
50.0

16.7
33.3
75.0
83.3
83.3

33.3
50.0
83.3
83.3
66.7
16.7
66.7
16.7

0
66.7
16.7

8.3

0

16.7
66.7
83.3
50.0

16.7
75.0
83.3
50.0

0

0

66.7
100.0
91.7
66.7
33.3
66.7

66.7
100.0
100.0
66.7
33.3
66.7

0

8.3

16.7
50.0
100.0
50.0
50.0
16.7
50.0
16.7

I
|

,

88.9
33.3
50.0
77.8
58.3
83.3

30.0
32.5
90.0
57.5
75.0
17.5
22.5

2.8

8.3

61.1
94.4
91.7
94.4
86.1
25.0
91.7
63.9
69.4

91.7
80.5
75.0
27.8
100.0
63.9
30.6
75.0
83.3
63.9

94.4
58.3
55.6
50.0
75.0
44.4
58.3
58.4
77.8
63.9

72.9
83.3
76.4
25.0
83.3
68.1
36.8
77.8
68.1
65.3

63.9
77.8
41.6
72.2
88.9
30.6
52.8
55.6
86.1
58.3

72.2
69.4
38.9
94.5
66.7

27.8
91.7
83.3

69.4
86.1
52.8
77.8
91.7
33.3
27.8
66.7
77.8
72.2

67.4
82.6
48.6
79.9
86.8
29.2
24.3
54.9
83.3
64.6

22.2
30.6
58.3
69.5
86.1
61.1
38.9
36.1

0
58.3
83.3
66.7
83.3
30.5
61.1
33.3

22.2
50.0
83.3
83.3
77.8
11.1
72.2
22.2

0

0

37.5
57.5
27.5
65.0
72.5
37.5
85.0
27.5

60.0
42.5
12.5
80.0
77.5
25.0
45.0
30.0

30.0
47.5
57.5
62.5
22.5
80.0
27.5
67.5

32.5
40.0
52.5
87.5
37.5
50.0
17.5
77.5

22.5
37.5
70.0
82.5
25.0
22.5
37.5
65.0

22.5
70.0
45.0
77.5
22.5
87.5
35.0
55.0

82.5
12.5
82.5
30.0
75.0
87.5

82.5
30.0
77.5
17.5
62.5
12.5
57.5
60.0
42.5
90.0

82.5
25.0
22.5
62.5
72.5
32.5
57.5
77.5
55.0
45.0

42.5
70.0
47.5
40.0
75.0
37.5
80.0
77.5
20.0
77.5

92.5
10.0
65.0
70.0
80.0
45.0
25.0
85.0
35.0

37.5
30.0
45.0
92.5
32.5
22.5
97.5
35.0
67.5
40.0

25.0
75.0
45.0
82.5
42.5
42.5
60.0
42.5
62.5
62.5

62.5
22.5
42.5
80.0
32.5
25.0
70.0
40.0
35.0
70.0

72.5
67.5
57.5
77.5
20.0
17.5
42.5
82.5
77.5
17.5

37.5
52.5
90.0
85.0

75.0
40.0
47.5
15.0
87.5
32.5
72.5
57.5
50.0
37.5

17.5
40.0
57.5
17.5
27.5
20.0
45.0
90.0
55.0
10.0

85.0
65.0
30.0
90.0
52.5
35.0
75.0
12.5
27.5
90.0

30.0
40.0
55.0
60.0
40.0
60.0
52.5
80.0
32.5
40.0

55.0
20.0
72.5
35.0
32.5
82.5
55.0
30.0
57.5
30.0

42.5
62.5
62.5
55.0
52.5
20.0
27.5
62.5
32.5
50.0

27.5
47.5
52.5
82.5
62.5
10.0
17.5
47.5
85.0
22.5

30.0
35.0
35.0
92.5
62.5
12.5
47.5
12.5

70.0
25.0
80.0
80.0

50.0
95.0
45.0
10.0
87.5
22.5
77.5
65.0

80.0
22.5
82.5
70.0
60.0
27.5
22.5
80.0

75.0
70.0
17.5
57.5
55.0
30.0
32.5
45.0

87.5
17.5
55.0
37.5
42.5
90.0
57.5
37.5

72.5
27.5
62.5
55.0
70.0
87.5
15.0
42.5

1955
1956
1957
1958
1959
1960
1961
1962
1963
1964

92.5
35.0
35.0
27.5
92.5
45.0
92.5
25.0
82.5

1965
1966
1967
1968
1969
1970
1971
1972
1973
1974

60.0
57.5
72.5
15.0
52.5
35.0
75.0
50.0
42.5
27.5

52.5
82.5

1975
1976
1977
1978
1979
1980
1981
1982

27.5
92.5
15.0

10.0
27.5
97.5
77.5
50.0
30.0
15.0
95.0
961. Diffusion

1947
1948
1949
1950
1951
1952
1953
1954

0

2.5
37.5
52.5
75.0

5.0

75.0

5.0
87.5
40.0
50.0
72.5

2.5

5.0
90.0
17.5
17.5
22.5
72.5
92.5
42.5

60.0
15.0
92.5
42.5
40.0
25.0
52.5

1955
1956
1957
1958
1959
1960
1961
1962
1963
1964

100.0
27.5
20.0
10.0
90.0
22.5
42.5
85.0
57.5
72.5

100.0
15.0
15.0
15.0
95.0
30.0
87.5
82.5
35.0
65.0

1965
1966
1967
1968
1969
1970
1971
1972
1973
1974

87.5
85.0
10.0
65.0
45.0

77.5
85.0
12.5
70.0
22.5
10.0
87.5
90.0
37.5
10.0

1975
1976
1977
1978
1979
1980
1981
1982

0

5.0
65.0
85.0
57.5
20.0
82.5
82.5
72.5
12.5
15.0
95.0

5.0




15.0
65.0
90.0
72.5
12.5

0
45.0
60.0
47.5

5.0

17.5

67.5
52.5
57.5
62.5
20.0
65.0
82.5
72.5

62.5
32.5
27.5
42.5
62.5
27.5
27.5
92.5

72.5
17.5
62.5
42.5
82.5
65.0
32.5
45.0

45.0
15.0
100.0
25.0
55.0

47.5
95.0
20.0
77.5

7.5

5.0

40.0

42.5

25.0
17.5
45.0
90.0
20.0
72.5
15.0
57.5

42.5
12.5
50.0
95.0
27.5
75.0

52.5

0
47.5
95.0
20.0
80.0

42.5
20.0
90.0
85.0
30.0
95.0

42.5
40.0
65.8
63.3
40.8
65.8
26.7
45.8

67.5
34.2
49.2
49.2
55.0
52.5
47.5
70.0

39.8
48.3
65.4
49.8
55.4
38.1
54.0

72.5
57.5

60.0
15.0
30.0
90.0
42.5
12.5
70.0
62.5
22.5
65.0

35.0
70.0
35.0
47.5
72.5
17.5
30.0
77.5
87.5

85.8
30.0
45.0
35.8
75.8
30.0
69.2
54.2
60.0
45.0

57.5
35.0
34.2
65.8
59.2
46.7
74.2
45.8
57.5
50.8

53.3
55.0
48.3
80.0
31.7
28.3
57.5
55.0
58.3
50.0

55.8
47.5
23.3
58.3
55.8
36.7
57.5
32.5
52.5
71.7

63.1
41.9
37.7
60.0
55.6
35.4
64.6
46.9
57.1
54.4

70.0
50.0
42.5
47.5
27.5
75.0
87.5
57.5
25.0
27.5

77.5
32.5
70.0
17.5
45.0
47.5
77.5
70.0
70.0

7.5

72.5
22.5
37.5
45.0
70.0
60.0
77.5
20.0
32.5
15.0

62.5
60.0
41.7
40.0
52.5
28.3
56.7
60.0
61.7
35.8

44.2
48.3
47.5
55.8
40.0
38.3
57.5
60.8
38.3
46.7

41.7
43.3
62.5
57.5
49.2
37.5
33.3
46.7
58.3
34.2

73.3
35.0
50.0
36.7
47.5
60.8
80.8
49.2
42.5
16.7

55.4
46.7
50.4
47.5
47.3
41.2
57.1
54.2
50.2
33.3

50.0
75.0
67.5
37.5
37.5
60.0
65.0
57.5

72.5
57.5
37.5
70.0
60.0
85.0
17.5
65.0

90.0
57.5
37.5
50.0
62.5
82.5
32.5
62.5

22.5
51.7
49.2
57.5
50.0
31.7
45.8
37.5

66.7
47.5
69.2
53.3
49.2
31.7
53.3
64.2

78.3
38.3
45.0
50.0
55.8
69.2
35.0
41.7

70.8
63.3
47.5
52.5
53.3
75.8
38.3
61.7

59.6
50.2
52.7
53.3
52.1
52.1
43.1
51.2

17.5

47.5

52.5

5.0

5.0

0

80.0
80.0
35.0
65.0

85.0
67.5
32.5
90.0

87.5
75.0
25.0
87.5

55.8
10.8
93.3
32.5
45.0
37.5
30.0

23.3
35.8
95.0
21.7
68.3

9.2

3.3

2.5

46.7

81.7

92.5

95.0
14.2
17.5
22.5
91.7
26.7
68.3
78.3
62.5
70.0

86.7
10.8
13.3
83.3
70.0
14.2
94.2
50.0
77.5
75.8

85.0
18.3

42.5
46.7

1.7

9.2

95.8
40.8
17.5
83.3
33.3
59.2
83.3

96.7
16.7
16.7
88.3
26.7
65.8
78.3

83.3
75.0
11.7
66.7
30.0
10.8
77.5
88.3
46.7
13.3

52.5
42.5
29.2
68.3
35.8
12.5
62.5
83.3
60.0

92.5
10.0
54.2
35.8

6.7

74.2
13.3
56.7
57.5
35.0
24.2
76.7
50.8
30.0
13.3

12.5
75.0
82.5
69.2
12.5

64.2
34.2
85.0
75.0
20.8
11.7
22.5
44.2

95.0
40.0
42.5
54.2
50.0
69.2
13.3
57.5

5.0

5.0
57.5
62.5

7.5

!

0

2.5

0

5.0

2.5

80.0

92.5

92.5

95.0

90.0

90.0
12.5

80.0
27.5

42.5
52.5
10.0
97.5
12.5
10.0
92.5
17.5
62.5
85.0

30.0
57.5
10.0
97.5
20.0
15.0
77.5
40.0
55.0
92.5

55.0
30.0

90.0
15.0
32.5
85.0
22.5
42.5
77.5
27.5
20.0
35.0

97.5

95.0
12.5
62.5
40.0
15.0
52.5
92.5
67.5
32.5

85.0
10.0
27.5
45.0

0

5.0

7.5
2.5

100.0
45.0
10.0
17.5
77.5
90.0

100.0
57.5
20.0
55.0
37.5
92.5

95.0
57.5
57.5
55.0
15.0
87.5

72.5
50.0
100.0
10.0
15.0
100.0

85.0
15.0

22.5
67.5
95.0
22.5
95.0
30.0
70.0
90.0

5.0

0

0

5.0

90.0
42.5
10.0
97.5
50.0
80.0
87.5

100.0
42.5
10.0
95.0
47.5
67.5
72.5

95.0
45.0

92.5
35.0
35.0
67.5
27.5
50.0
82.5

77.5
52.5
25.0
40.0
40.0
12.5
77.5
92.5
35.0

27.5
42.5
35.0
77.5
42.5
15.0
45.0
80.0
77.5

62.5
10.0
72.5
32.5
62.5
15.0
75.0
75.0
42.5

70.0
15.0
65.0
55.0
20.0
15.0
77.5
50.0
27.5

2.5

2.5

52.5
32.5
27.5
87.5
25.0
10.0
65.0
77.5
67.5
15.0

5.0

17.5
42.5
90.0
27.5
75.0
67.5
95.0
72.5
85.0
55.0
12.5
65.0
22.5
17.5
80.0
90.0
45.0
10.0

60.0
62.5
82.5
55.0
10.0

67.5
25.0
82.5
70.0
32.5

0

0

7.5

5.0

77.5
32.5

60.0
22.5

42.5
22.5

15.0
25.0

65.0
15.0
90.0
100.0
20.0
22.5
10.0
85.0

Average for period

7.5

90.0
15.0

85.0

0

7.5
87.5
25.0
60.0
95.0

0

5.0

90.0
32.5
45.0
87.5
42.5
37.5
15.0
32.5

95.0
42.5
72.5
57.5
30.0
80.0
20.0
60.0

8.3

12.5
50.0
81.2
75.0
77.1
32.6
58.4
25.0

40.8
43.3
40.8
76.7
45.8
51.7
30.0
58.3

72.5

85.0
12.5
12.5
92.5
72.5
10.0
90.0
70.0
82.5
50.0

85.0

22.5
77.5
75.0
62.5
12.5

7.5

5.6
61.1
100.0
80.6
61.1
27.8
61.1

41.7
37.5
72.5
57.5
51.7
48.3
41.7

index of average weekly hours of production or nonsupervisory workers—20 manufacturing industries
[Percent rising over 9-month spans]
32.5
12.5
100.0
15.0
45.0
15.0
35.0

2.8
16.7
69.5
77.8
44.4

37.5
67.4
81.9
56.9
73.6
17.4

Average for period

37.5
37.5
52.5
62.5
42.5
42.5
42.5
75.0

7.5

91.7
33.3
94.4
83.3
41.7
69.5

83.3
36.1
83.3
83.3
47.2
55.5
36.1

961. Diffusion index of average weekly hours of production or nonsupenrisory workers—20 manufacturing industries
[Percent rising over 1-month spans]
1947
1948
1949
1950
1951
1952
1953
1954

Annual

Average for period

1947
1948
1949
1950
1951
1952
1953
1954

83.3
41.7
41.7
83.3
58.3
83.3

IV Q

7.5
72.5
22.5

7.5
32.5
77.5
70.0
27.5

7.5
95.0
17.5
25.0
95.0
22.5
80.0
57.5

5.0
45.0
95.0
72.5

5.0

5.0

7.5

0

5.0

77.5

80.0

62.5

82.5

100.0

J 20.0

45.8
10.8
62.5
91.7
25.8
83.3

39.2

3.3
84.2
74.2
30.8
80.8

9.2
43.3
88.3
70.0
22.5

23.3
48.3
88.5
27.7
69.4
13.1
62.7
77.3
22.5
10.4
74.6
54.8
18.8
83.5
47.1
66.2
76.9
75.6
35.2
37.9
57.1
27.5
22.7
76.2
73.1
39.8

2.5

9.0

89.2
55.0
59.2
40.0
22.5
93.3

65.2
51.0
67.3
59.6
26.5
44.8
29.4
50.8

4.2
81.7

Year

MontNy
Jan.

Feb.

Mar.

Apr.

May

June

Quarterly

July

Aug.

Sept.

Oct.

Nov.

Dec.

«Q

962. Diffusion index of initial claims for unemployment insurance, State programs—51 areas
[Percent dedrtng over 1-month spans]

Annual

WQ

'VQ

Average for period

1947...
1948...
1949...
1950...
1951...
1952...
1953...
1954...

33.3
21.6
68.6
60.8

51.0
79.4
37.3
19.6

85.3
41.2
47.1
31.4

25.5
26.5
63.7
62.7

45.1
58.8
39.2
52.9

66.7
49.0
28.4
35.3

31.4
41.2
47.1
82.4

74.5
27.5
92.2
23.5
17.6

58.8
68.6
62.7
19.6
41.2

41.2
39.2
54.9
27.5
90.2

45.1
60.8
54.9
15.7
70.6

72.5
48.0
11.8
43.1
74.5

56.5
47.4
51.0
37.3

45.8
44.8
43.8
50.3

42.5
65.4
30.1
47.1

52.9
49.3
40.5
28.8
78.4

48.5
49.5
38.4
53.3

1955...
1956...
1957...
1958...
1959...
1960...
1961...
1962...
1963...
1964...

84.3
35.3
7.8
37.3
88.2
61.8
76.5
23.5
11.8
74.5

74.5
29.4
86.3
21.6
63.7
21.6
9.8
84.3
90.2
70.6

49.0
60.8
63.7
27.5
62.7
9.8
70.6
39.2
72.5
25.5

76.5
39.2
15.7
36.3
57.8
86.3
77.5
47.1
17.6
47.1

47.1
29.4
35.3
70.6
85.3
27.5
29.4
25.5
51.0
82.4

51.0
66.7
83.3
45.1
17.6
25.5
74.5
68.6
76.5
17.6

80.4
27.5
23.5
76.5
21.6
60.8
74.5
39.2
21.6
74.5

29.4
56.9
58.8
76.5
52.9
3.9
35.3
41.2
74.5
74.5

72.5
58.8
15.7
39.2
29.4
72.5
70.6
76.5
23.5
21.6

52.9
35.3
26.5
86.3
31.4
47.1
76.5
24.5
47.1
74.5

31.4
49.0
52.9
82.4
37.3
25.5
37.3
79.4
82.4
37.3

62.7
70.6
27.5
19.6
78.4
58.8
94.1
66.7
13.7
51.0

69.3
41.8
52.6
28.8
71.5
31.1
52.3
49.0
58.2
56.9

58.2
45.1
44.8
50.7
53.6
46.4
60.5
47.1
48.4
49.0

60.8
47.7
32.7
64.1
34.6
45.7
60.1
52.3
39.9
56.9

49.0
51.6
35.6
62.8
49.0
43.8
69.3
56.9
47.7
54.3

59.3
46.6
41.4
51.6
52.2
41.8
60.6
51.3
48.5
54.3

1965...
1966...
1967...
1968..
1969...
1970..
1971...
1972..
1973..
1974..

96.1
47.1
47.1
18.6
54.9
17.6
84.3
78.4
37.3
3.9

19.6
45.1
22.5
78.4
49.0
48.0
29.4
19.6
78.4
74.5

39.2
86.3
40.2
76.5
76.5
25.5
11.8
68.6
31.4
80.4

64.7
74.5
39.2
33.3
33.3
19.6
98.0
82.4
35.3
23.5

78.4
27.5
41.2
58.8
82.4
72.5
76.5
5.9
28.4
33.3

11.8
58.8
78.4
80.4
25.5
27.5
5.9
54.9
72.5
80.4

81.4
38.2
33.3
17.6
35.3
66.7
68.6
59.8
19.6
11.8

45.1
29.4
66.7
57.8
63.7
62.7
31.4
52.0
33.3
43.1

64.7
80.4
71.6
56.9
27.5
13.7
62.7
74.5
92.2
15.7

80.4
35.3
45.1
49.0
48.0
58.8
88.2
43.1
15.7
3.9

34.3
29.4
62.7
58.8
56.9
58.8
19.6
49.0
51.0
29.4

64.7
39.2
64.7
39.2
17.6
56.9
76.5
82.4
47.1
5.9

51.6
59.5
36.6
57.8
60.1
30.4
41.8
55.5
49.0
52.9

51.6
53.6
52.9
57.5
47.1
39.9
60.1
47.7
45.4
45.7

63.7
49.3
57.2
44.1
42.2
47.7
54.2
62.1
48.4
23.5

59.8
34.6
57.5
49.0
40.8
58.2
61.4
58.2
37.9
13.1

56.7
49.3
51.1
52.1
47.6
44.0
54.4
55.9
45.2
33.8

1975..
1976..
1977..
1978...
1979...
1980...
1981...
1982...

51.0
94.1
39.2
33.3
11.8
23.5
86.3
96.1

35.3
41.2
25.5
47.1
72.5
60.8
39.2
24.5

72.5
10.8
49.0
54.9
68.6
46.1
31.4
5.9

30.4
52.9
68.6
82.4
7.8
3.9
64.7
62.7

68.6
56.9
23.5
11.8
66.7
33.3
78.4
68.6

73.5
0
37.3
58.8
66.7
70.6
17.6
19.6

62.7
66.7
80.4
49.0
37.3
62.7
68.6
67.6

82.4
29.4
24.5
42.2
54.9
84.3
58.8
9.8

13.7
38.2
82.4
94.1
86.3
13.7
9.8
17.6

76.5
90.2
76.5
25.5
9.8
76.5
60.8
88.2

94.1
29.4
41.2
29.4
53.9
96.1
49.0
60.8

21.6
90.2
90.2
86.3
68.6
5.9
22.5
76.5

52.9
48.7
37.9
45.1
51.0
43.5
52.3
42.2

57.5
36.6
43.1
51.0
47.1
35.9
53.6
50.3

52.9
44.8
62.4
61.8
59.5
53.6
45.7
31.7

64.1
69.9
69.3
47.1
44.1
59.5
44.1
75.2

56.9
50.0
53.2
51.2
50.4
48.1
48.9
49.8

29.4
68.7
2.6
86.3

27.5
63.4
6.5
94.8

35.3
63.4
11.1
54.4

62.8
31.4
3.3
94.8
24.9
13.1
89.5
29.4
56.8
75.5

45.8
48.4
1.3
98.7
15.7
8.5
89.6
59.2
72.5
68.0

72.9
37.6
13.9
63.0
46.7
13.2
78.3
52.2
65.1
76.7

83.7
8.8
83.0
52.9
2.0
41.8
71.9
87.6
18.3
1.3

84.8
49.7
54.2
68.5
26.2
18.8
61.8
75.2
30.9
8.4

89.5
71.2
78.4
49.0
24.8
90.8
8.5
74.2

62.7
53.1
71.0
53.8
33.8
41.3
29.5
44.2

962. Diffusion index of initial claims
[Percent

insurance, State programs—51 areas
Average for period

" »P»»1

1947...
1948...
1949...
1950...
1951...
1952...
1953..
1954...

52.9
60.8
37.3
3.9

54.9
43.1
20.6
9.8

41.2
31.4
24.5
23.5

35.3
74.5
5.9
17.6

35.3
70.6
11.8
21.6

33.3
84.3
5.9
33.3

41.2
76.5
2.0
76.5

25.5
47.1
2.0
88.2

21.6
82.4
3.9
94.1

35.3
60.8
7.8
98.0

1955..
1956..
1957..
1958..
1959...
1960...
1961...
1962...
1963...
1964...

98.0
41.2
23.5
3.9
96.1
19.6
47.1
80.4
54.9
76.5

96.1
31.4
31.4
7.8
94.1
15.7
52.9
82.4
64.7
74.5

94.1
25.5
31.4
16.7
76.5
31.4
70.6
54.9
72.5
88.2

80.4
39.2
43.1
33.3
58.8
17.6
68.6
60.8
67.6
80.4

94.1
43.1
13.7
39.2
76.5
5.9
84.3
47.1
51.0
84.3

86.3
31.4
9.8
74.5
37.3
3.9
78.4
35.3
82.4
86.3

60.8
41.2
0
96.1
15.7
5.9
86.3
25.5
80.4
61.8

70.6
43.1
3.9
90.2
27.5
23.5
94.1
45.1
17.6
64.7

56.9
9.8
5.9
98.0
31.4
9.8
88.2
17.6
72.5
100.0

39.2
47.1
3.9
98.0
3.9
3.9
96.1
60.8
88.2
64.7

1965...
1966...
1967...
1968...
1969...
1970...
1971...
1972...
1973...
1974...

78.4
88.2
11.8
76.5
64.7
2.0
52.9
78.4
66.7
10.8

78.4
90.2
15.7
86.3
43.1
2.0
60.8
72.5
60.8
21.6

88.2
72.5
25.5
74.5
31.4
0
70.6
62.7
51.0
9.8

86.3
70.6
35.3
68.6
43.1
3.9
45.1
84.3
37.3
21.6

84.3
80.4
45.1
68.6
37.3
0
47.1
82.4
35.3
7.8

82.4
70.6
43.1
94.1
37.3
2.0
52.9
58.8
33.3
13.7

90.2
62.7
82.4
79.4
35.3
5.9
41.2
78.4
7.8
9.8

90.2
29.4
80.4
53.9
12.7
13.7
84.3
76.5
21.6
2.0

88.2
5.9
62.7
60.8
3.9
70.6
70.6
45.1
2.0
0

1975 ...
1976...
1977...
1978...
1979..
1980...
1981...
1982...

2.0
76.5
74.5
76.5
46.1
2.0
76.5
11.8

2.0
69.6
70.6
56.9
27.5
2.0
81.4
31.4

21.6
70.6
68.6
47.1
25.5
9.8
70.6
43.1

51.0
22.5
57.8
52.9
56.9
19.6
19.6
15.7

58.8
29.4
53.9
60.8
49.0
3.9
19.6
23.5

75.5
17.6
74.5
60.8
31.4
7.8
5.9
9.8

92.2
17.6
65.7
51.0
21.6
58.8
17.6
17.6

82.4
62.7
82.4
76.5
25.5
23.5
9.8
72.5

98.0
56.9
68.6
15.7
47.1
96.1
27.5
82.4

25.5
58.8

60.8
21.6
70.6

9.8

2.0

94.1

92.2

60.8
56.9

37.3
41.2

0

0

90.2
70.6
54.9
72.5

98.0
35.3
15.7
82.4
46.1
74.5
66.7

62.7
12.7
86.3
54.9
2.0
51.0
41.2
96.1
15.7
3.9

96.1

92.2

92.2
37.3
70.6
51.0
35.3
96.1
11.8
71.6

100.0

7.8
5.9

49.7
45.1
27.5
12.4

34.6
76.5

96.1
32.7
28.8

86.9
37.9
22.2
49.0
57.5

9.5

88.9
22.2
56.9
72.6
64.0
79.7

7.9

24.2

9.1

77.1
47.7
67.0
83.7

2.0

81.7
83.6
17.7
79.1
46.4

0

0

61.4
71.2
59.5
14.1

48.4
75.2
35.3
14.4

89.5
32.7
75.2
64.7
17.3
30.1
65.4
66.7
10.5
3.9

88.2
88.2
78.4
66.7
33.3
88.2

88.2
88.2
86.3
29.4

8.5

61.8
23.2
62.1
58.2
45.8
10.4
15.0
16.3

90.9
45.7
72.2
47.7
31.4
59.5
18.3
57.5

5.9

88.2
41.2

2.0

25.5
84.3
88.2
15.7

5.9

66.7

7.8

74.5
62.7

49.0
90.2
78.4
23.5

5.9

88.2

7.8

84.3

1.3

72.2
71.2
60.2
33.0

4.6

76.2
28.8

84.3
73.9
41.2
77.1
39.2

2.0

963. Diffusion index of employees or private nonafricuKuraJ payrok—172-186
[Percent i
spans]

Average for period

1947...
1948...
1949...
1950...
1951...
1952...
1953...
1954...
1955...
1956...
1957...
1958...
1959...
1960...
1961...
1962...
1963...
1964...

83.0
67.5
40.8
56.9
57.5
57.2

11.0
64.4
70.9
36.2
72.5
46.4
70.1

17.3
77.3
46.3
55.1
60.8
65.9
61.7

19.2
77.6
52.1
55.1
71.6
65.9
65.9

35.8
79.8
43.9
69.5
62.9
64.4
69.2

50.3
69.6
37.4
70.1
57.2
53.0
62.3

54.4
65.0
43.3
62.6
53.3
61.4
72.8

72.3
55.5
39.3
69.5
63.2
61.7
62.3

84.0
72.1
34.0
53.9
53.6
61.7
80.8

68.6
48.2
35.0
69.5
57.2
60.5
56.0

74.2
58.3
29.1
70.4
46.1
47.6
65.6

71.1
73.6
21.2
68.6
50.0
58.4
68.9

74.9
61.6
44.0
63.4
56.6
63.0

35.1
75.7
44.5
64.9
63.9
61.1
65.8

70.2
64.2
38.9
62.0
56.7
61.6
72.0

71.3
60.0
28.4
69.5
51.1
55.5
63.5

68.7
43.3
60.1
58.8
58.7
66.1

1965...
1966...
1967...
1968...
1969...
1970...
1971...
1972...
1973...
1974...

70.4
73.1
63.8
45.3
64.5
50.9
41.6
71.5
67.7
60.8

70.4
79.3
42.2
72.7
69.5
44.8
37.5
74.2
78.0
58.3

76.3
81.4
50.3
59.6
66.0
39.0
41.0
67.2
67.2
47.6

71.6
74.9
49.1
65.1
62.2
30.8
57.6
62.1
60.5
51.1

65.3
71.6
47.4
58.7
59.3
25.6
65.7
62.1
50.3
50.5

66.8
77.8
57.8
69.2
70.1
34.6
38.4
65.1
57.3
48.9

77.8
65.9
51.5
64.2
62.2
51.2
57.3
46.5
53.0
50.3

64.1
66.5
63.7
66.3
58.7
31.4
49.1
60.8
54.3
42.7

79.0
42.5
50.9
58.7
42.2
48.0
77.0
62.1
51.1
34.4

74.6
67.1
53.5
69.5
55.8
28.5
46.8
64.8
64.5
38.4

79.9
64.7
70.9
74.4
54.4
28.2
63.1
72.0
75.5
26.1

80.5
65.0
66.3
67.2
59.3
41.9
62.5
72.3
69.4
22.0

72.4
77.9
52.1
59.2
66.7
44.9
40.0
71.0
71.0
55.6

67.9
74.8
51.4
64.3
63.9
30.3
53.9
63.1
56.0
50.2

73.6
58.3
55.4
63.1
54.4
43.5
61.1
56.5
52.8
42.5

78.3
65.6
63.6
70.4
56.5
32.9
57.5
69.7
69.8
28.8

73.1
69.2
55.6
64.2
60.4
37.9
53.1
65.1
62.4
44.3

1975...
1976...
1977...
1978...
1979...
1980...
1981...
1982...

20.4
73.7
69.1
65.9
64.2
53.2
57.8
28.5

23.9
70.4
64.2
63.7
61.6
52.7
52.4
45.4

28.2
67.5
73.7
70.4
65.6
46.2
52.2
36.0

41.1
70.2
72.3
72.0
51.6
32.0
65.6
39.0

51.9
59.7
70.4
64.2
61.8
31.2
60.2
47.6

44.6
53.0
65.1
69.9
62.4
30.9
58.9
32.8

57.8
58.3
64.8
60.8
54.3
34.9
62.6
38.4

69.6
54.0
61.0
64.5
53.5
62.1
49.5
37.1

66.9
64.0
66.7
63.7
48.9
55.4
42.2
34.1

65.6
48.7
63.2
67.2
61.8
64.5
33.3
29.3

59.1
61.8
68.8
71.8
50.3
62.1
29.3
32.0

68.5
59.7
71.8
70.7
51.1
59.7
30.9
42.2

24.2
70.5
69.0
66.7
63.8
50.7
54.1
36.6

45.9
61.0
69.3
68.7
58.6
31.4
61.6
39.8

64.8
58.8
64.2
63.0
52.2
50.8
51.4
36.5

64.4
56.7
67.9
69.9
54.4
62.1
31.2
34.5

49.8
61.8
67.6
67.1
57.3
48.7
49.6
36.9

See footnotes at end of this part.




139

Year

Monthly
Jan.

Feb.

Mar.

Apr.

May

June

Quarterly
July

Aug.

Sept.

Oct.

Nov.

Dec.

963. Diffusion index of employees on private nonafricurtural payrok-172-186 industries
[Percent rising over 6-month spans]

1Q_

HO

111 Q

IV Q

Annual

Average for period

1947
1948
1949
1950
1951
1952
1953
1954
1955
1956
1957
1958
1959
1960
1961
1962
1963
1964

92.1
70.2
24.2
77.5
58.4
66.5

89.9
66.9
28.2
77.2
63.8
71.9

89.3
54.6
55.8
75.4
64.4
74.3

15.4
83.4
46.6
59.0
71.3
66.8
78.1

23.9
81.3
38.3
73.7
68.0
74.3
74.9

49.4
77.3
36.5
71.6
67.4
71.3
80.5

66.4
66.0
26.7
78.1
61.1
68.6
78.7

76.4
60.4
24.5
76.9
50.9
61.7
82.6

63.5
21.5
75.7
49.7
65.9
82.6

87.4
66.6
19.9
70.4
52.4
64.7
79.3

90.3
72.4
20.2
73.1
45.5
65.6
82.0

63.5
20.9
72.5
54.2
67.7
82.0

90.4
63.9
36.1
76.7
62.2
70.9

29.6
80.7
40.5
68.1
68.9
70.8
77.8

74.5
63.3
24.2
76.9
53.9
65.4
81.3

88.2
67.5
20.3
72.0
50.7
66.0
81.1

75.5
37.2
63.3
62.6
66.1
77.8

1965
1966
1967
1968
1969
1970
1971
1972
1973
1974

80.8
88.3
61.1
73.5
76.7
41.0
38.4
82.0
85.8
66.7

78.4
85.9
53.6
70.9
71.2
34.9
43.6
83.4
82.0
59.9

81.1
85.9
52.1
75.0
73.5
28.2
44.2
86.3
74.5
53.8

80.5
81.7
48.8
77.9
77.3
30.5
49.4
77.7
68.8
51.9

82.3
79.0
52.3
73.5
77.0
20.3
50.6
72.3
63.2
44.9

85.9
74.3
51.7
75.3
70.6
22.7
61.6
71.8
57.5
41.1

86.8
77.2
59.6
78.5
67.7
24.1
55.2
73.7
61.6
37.1

87.4
74.9
66.0
78.5
59.3
24.1
56.1
76.9
70.2
32.0

89.2
71.3
67.7
77.6
57.3
28.8
62.8
76.1
71.2
23.9

87.4
68.0
64.2
77.0
54.7
27.6
70.3
79.3
71.0
20.2

89.2
65.0
66.9
76.5
53.5
30.5
77.6
82.8
73.4
16.9

90.7
65.0
70.9
76.7
49.7
26.7
77.6
82.5
72.3
13.4

80.1
86.7
55.6
73.1
73.8
34.7
42.1
83.9
80.8
60.1

82.9
78.3
50.9
75.6
75.0
24.5
53.9
73.9
63.2
46.0

87.8
74.5
64.4
78.2
61.4
25.7
58.0
75.6
67.7
31.0

89.1
66.0
67.3
76.7
52.6
28.3
75.2
81.5
72.2
16.8

85.0
76.4
59.6
75.9
65.7
28.3
57.3
78.7
71.0
38.5

1975
1976
1977
1978
1979
1980
1981
1982

12.1
83.1
83.3
80.6
72.3
41.1
68.5
20.2

14.2
83.9
85.2
81.2
71.0
34.1
65.3
23.7

20.2
77.4
83.6
82.0
68.8
30.4
63.7
25.3

31.2
74.7
79.8
76.6
63.7
24.2
69.4
29.8

48.9
70.4
79.0
78.5
59.4
26.3
64.2
26.1

57.0
71.8
77.7
76.6
53.5
27.2
58.6
26.1

67.2
62.9
73.9
71.5
58.1
34.4
45.7
23.4

69.6
66.1
74.7
75.5
49.2
44.1
34.4
19.1

75.3
65.1
76.3
76.6
49.7
57.8
29.6
21.2

78.8
68.8
78.2
78.2
50.8
73.1
24.2
26.1

81.7
72.0
80.1
73.1
53.8
68.0
25.0
26.6

80.6
73.9
79.8
74.2
51.9
68.8
22.0
35.8

15.5
81.5
84.0
81.3
70.7
35.2
65.8
23.1

45.7
72.3
78.8
77.2
58.9
25.9
64.1
27.3

70.7
64.7
75.0
74.5
52.3
45.4
36.6
21.2

80.4
71.6
79.4
75.2
52.2
70.0
23.7
29.5

53.1
72.5
79.3
77.0
58.5
44.1
47.6
25.3

964. Diffusion index of manufacturers' n
[Percentrisingo

34-35 durable goods
Average for period

1947
1948
1949
1950
1951
1952
1953
1954

66.7
73.8
40.5
66.7
42.9

52.4
57.1
31.0
57.1
28.6
65.7

38.1
57.1
52.4
45.2
38.6
31.4

31.0
76.2
47.6
61.9
68.6
51.4

38.1
81.0
52.4
19.0
27.1
44.3

57.1
52.4
28.6
61.9
14.3
65.7

28.6
95.2
47.6
66.7
77.1
77.1

66.7
83.3
38.1
28.6
20.0
58.6

85.7
31.0
23.8
66.7
47.1
57.1

19.0
33.3
81.0
64.3
32.9
58.6

83.3
57.1
38.1
38.1
45.7
48.6

52.4
85.7
33.3
57.1
60.0
71.4

60.3
52.4
47.6
44.6
46.7

42.1
69.9
42.9
47.6
36.7
53.8

60.3
69.8
36.5
54.0
48.1
64.3

51.6
58.7
50.8
53.2
46.2
59.5

64.7
45.6
50.6
43.9
56.1

1955
1956
1957
1958
1959
1960
1961
1962
1963
1964

77.1
31.4
38.6
54.3
70.0
28.6
37.1
57.1
62.9
80.0

67.1
28.6
60.0
28.6
67.1
48.6
58.6
60.0
70.0
32.9

72.9
57.1
38.6
37.1
68.6
44.3
62.9
38.6
52.9
65.7

35.7
67.1
20.0
45.7
25.7
55.7
65.7
54.3
65.7
61.4

57.1
51.4
60.0
54.3
48.6
40.0
62.9
57.1
61.4
60.0

87.1
50.0
50.0
68.6
67.1
45.7
68.6
47.1
51.4
60.0

45.7
25.7
41.4
54.3
55.7
42.9
44.3
48.6
70.0
68.6

65.7
68.6
57.1
67.1
25.7
54.3
68.6
55.7
48.6
41.4

40.0
40.0
52.9
57.1
84.3
45.7
54.3
61.4
57.1
64.3

68.6
75.7
35.7
48.6
37.1
44.3
55.7
51.4
62.9
50.0

58.6
80.0
44.3
82.9
30.0
38.6
51.4
62.9
42.9
55.7

45.7
38.6
14.3
38.6
67.1
54.3
40.0
40.0
57.1
58.6

72.4
39.0
45.7
40.0
68.6
40.5
52.9
51.9
61.9
59.5

60.0
56.2
43.3
56.2
47.1
47.1
65.7
52.8
59.5
60.5

50.5
44.8
50.5
59.5
55.2
47.6
55.7
55.2
58.6
58.1

57.6
64.8
31.4
56.7
44.7
45.7
49.0
51.4
54.3
54.8

60.1
51.2
42.7
53.1
53.9
45.2
55.8
52.8
58.6
58.2

1965
1966
1967
1968
1969
1970
1971
1972
1973
1974

54.3
48.6
48.6
48.6
54.3
50.0
57.1
57.1
57.1
60.0

37.1
72.9
45.7
38.6
64.3
55.7
51.4
62.9
62.9
65.7

62.9
71.4
42.9
57.1
54.3
34.3
48.6
60.0
68.6
54.3

55.7
40.0
48.6
44.3
55.7
54.3
54.3
62.9
38.6
65.7

42.9
50.0
61.4
47.1
37.1
57.1
60.0
54.3
62.9
74.3

67.1
62.9
68.6
54.3
42.9
51.4
47.1
60.0
42.9
48.6

61.4
47.1
37.1
51.4
45.7
51.4
55.7
54.3
54.3
57.1

45.7
57.1
71.4
51.4
42.9
41.4
57.1
77.1
48.6
37.1

64.3
52.9
40.0
78.6
72.9
71.4
42.9
65.7
51.4
45.7

57.1
42.9
48.6
65.7
50.0
5.7
44.3
42.9
65.7
31.4

80.0
42.9
68.6
42.9
42.9
62.9
60.0
71.4
62.9
30.0

71.4
51.4
65.7
47.1
51.4
65.7
68.6
68.6
37.1
25.7

51.4
64.3
45.7
48.1
57.6
46.7
52.4
60.0
62.9
60.0

55.2
51.0
59.5
48.6
45.2
54.3
53.8
59.1
48.1
62.9

57.1
52.4
49.5
60.5
53.8
54.7
51.9
65.7
51.4
46.6

69.5
45.7
61.0
51.9
48.1
44.8
57.6
61.0
55.2
29.0

58.3
53.3
53.9
52.3
51.2
50.1
53.9
61.4
54.4
49.6

1975
1976
1977
1978
1979
1980
1981
1982

54.3
64.3
47.1
38.2
58.8
64.7
41.2
38.2

45.7
71.4
54.4
64.7
57.4
47.1
50.0
47.1

34.3
61.4
72.1
61.8
73.5
35.3
50.0
45.6

80.0
57.1
58.8
83.8
42.6
17.6
64.7
47.1

51.4
62.9
57.4
55.9
67.6
35.3
52.9
61.8

47.1
52.9
54.4
58.8
29.4
57.4
52.9
35.3

80.0
70.0
50.0
44.1
38.2
67.6
35.3
50.0

48.6
45.7
72.1
70.6
61.8
61.8
35.3
38.2

51.4
54.3
58.8
55.9
61.8
82.4
47.1
50.0

60.0
48.6
50.0
79.4
50.0
69.1
36.8
38.2

57.1
65.7
64.7
44.1
48.5
50.0
50.0
70.6

51.4
71.4
67.6
55.9
55.9
58.8
35.3
41.2

44.8
65.7
57.9
54.9
63.2
49.0
47.1
43.6

59.5
57.6
56.9
66.2
46.5
36.8
56.8
48.1

60.0
56.7
60.3
56.9
53.9
70.6
39.2
46.1

56.2
61.9
60.8
59.8
51.5
59.3
40.7
50.0

55.1
60.5
59.0
59.4
53.8
53.9
46.0
46.9

964. Diffusion index of manufacturers' n v orders—34-35 durable goods industries
[Percent rising o n 9-month spans]

Average for period

1947
1948
1949
1950
1951
1952
1953
1954

90.5
57.1
33.3
66.7
34.3

95.2
57.1
66.7
47.6
44.3

100.0
47.6
42.9
52.4
55.7

100.0
50.0
26.2
28.6
65.7

100.0
9.5
50.0
42.9
65.7

52.4
100.0
9.5
57.1
5.7
91.4

66.7
95.2
23.8
38.1
7.1
65.7

57.1
95.2
9.5
52.4
8.6
94.3

95.2
100.0
4.8
52.4
7.1
88.6

85.7
90.5
9.5
85.7
11.4
94.3

95.2
95.2
28.6
47.6
27.1
91.4

90.5
85.7
38.1
66.7
22.9
88.6

95.2
53.9
47.6
55.6
44.8

100.0
23.0
44.4
25.7
74.3

73.0
96.8
12.7
47.6
7.6
82.9

90.5
90.5
25.4
66.7
20.5
91.4

95.6
28.8
51.6
27.3
73.3

1955
1956
1957
1958
1959
1960
1961
1962
1963
1964

94.3
64.3
37.1
31.4
91.4
44.3
48.6
68.6
81.4
91.4

85.7
68.6
45.7
51.4
94.3
34.3
67.1
60.0
70.0
92.9

88.6
34.3
25.7
61.4
78.6
34.3
62.9
57.1
71.4
74.3

94.3
40.0
17.1
74.3
68.6
51.4
82.9
62.9
68.6
80.0

88.6
21.4
18.6
80.0
88.6
37.1
68.6
65.7
71.4
85.7

80.0
51.4
14.3
77.1
71.4
37.1
85.7
62.9
62.9
74.3

74.3
68.6
20.0
85.7
47.1
34.3
77.1
62.9
44.3
71.4

71.4
64.3
17.1
68.6
51.4
44.3
71.4
60.0
62.9
80.0

87.1
38.6
25.7
82.9
41.4
31.4
71.4
68.6
77.1
80.0

68.6
54.3
28.6
85.7
42.9
37.1
75.7
64.3
61.4
74.3

68.6
41.4
28.6
85.7
22.9
42.9
72.9
80.0
77.1
77.1

71.4
51.4
25.7
94.3
34.3
61.4
91.4
77.1
80.0
80.0

89.5
55.7
36.2
48.1
88.1
37.6
59.5
61.9
74.3
86.2

87.6
37.6
16.7
77.1
76.2
41.9
79.1
63.8
67.6
80.0

77.6
57.2
20.9
79.1
46.6
36.7
73.3
63.8
61.4
77.1

69.5
49.0
27.6
88.6
33.4
47.1
80.0
73.8
72.8
77.1

81.1
49.9
25.4
73.2
61.1
40.8
73.0
65.8
69.0
80.1

1965
1966
1967
1968
1969
1970
1971
1972
1973
1974

78.6
97.1
42.9
58.6
68.6
40.0
68.6
91.4
88.6
82.9

88.6
91.4
44.3
71.4
74.3
20.0
68.6
91.4
85.7
80.0

82.9
85.7
42.9
74.3
60.0
34.3
75.7
91.4
84.3
68.6

80.0
81.4
58.6
54.3
60.0
22.9
71.4
85.7
80.0
65.7

80.0
68.6
51.4
52.9
74.3
34.3
57.1
80.0
78.6
62.9

81.4
62.9
62.9
72.9
62.9
31.4
61.4
85.7
81.4
48.6

91.4
48.6
65.7
68.6
52.9
50.0
68.6
80.0
72.9
42.9

82.9
31.4
80.0
74.3
54.3
62.9
80.0
88.6
62.9
31.4

85.7
40.0
78.6
77.1
31.4
57.1
82.9
82.9
68.6
34.3

91.4
34.3
72.9
84.3
34.3
54.3
77.1
88.6
80.0
17.1

94.3
34.3
68.6
82.9
34.3
60.0
82.9
88.6
75.7
17.1

97.1
40.0
71.4
91.4
22.9
60.0
94.3
91.4
71.4
28.6

83.4
91.4
43.4
68.1
67.6
31.4
71.0
91.4
86.2
77.2

80.5
71.0
57.6
60.0
65.7
29.5
63.3
83.8
80.0
59.1

86.7
40.0
74.8
73.3
46.2
56.7
77.2
83.8
68.1
36.2

94.3
36.2
71.0
86.2
30.5
58.1
84.8
89.5
75.7
20.9

86.2
59.6
61.7
71.9
52.5
43.9
74.0
87.1
77.5
48.3

1975
1976
1977
1978
1979
1980
1981
1982

25.7
91.4
94.1
88.2
82.4
26.5
82.4
23.5

28.6
87.1
97.1
94.1
79.4
35.3
79.4
26.5

45.7
94.3
82.4
73.5
64.7
29.4
64.7
33.8

62.9
80.0
79.4
79.4
70.6
45.6
55.9
26.5

58.6
97.1
85.3
85.3
61.8
55.9
41.2
23.5

65.7
85.7
88.2
94.1
73.5
47.1
32.4
41.2

80.0
85.7
94.1
88.2
58.8
44.1
32.4
23.5

77.1
80.0
91.2
82.4
47.1
72.1
26.5
32.4

74.3
82.4
79.4
69.1
79.4
79.4
14.7
52.9

80.0
76.5
88.2
85.3
73.5
85.3
29.4
44.1

91.4
82.4
85.3
85.3
52.9
82.4
20.6
50.0

85.7
85.3
94.1
88.2
41.2
79.4
14.7
67.6

33.3
90.9
91.2
85.3
75.5
30.4
75.5
27.9

62.4
87.6
84.3
86.3
68.6
49.5
43.2
30.4

77.1
82.7
88.2
79.9
61.8
65.2
24.5
36.3

85.7
81.4
89.2
86.3
55.9
82.4
21.6
53.9

64.6
85.7
88.2
84.4
65.4
56.9
41.2
37.1

140



Year

Monthly
Jan.

Feb.

Mar.

Apr.

May

June

July

Aug.

Sept.

Oct.

Nov.

Dec.

966. Diffusion index of industrial production—24 industries
[Percent rising over 1-month spans]

Quarterly
IIIQ

Annual

Average for period
53.5
23.6
76.4
56.3
67.4
62.5
53.5

60.4
41.0
63.2
77.1
41.6
72.9
45.1
56.2

79.9
36.1
57.7
66.0
61.1
75.7
20.8
86.8

47.2
43.8
76.9
50.9
68.6
46.0
64.9

66.7
68.8
20.8
58.3
95.8
18.8
56.2
66.7
31.2
77.1

88.2
50.0
59.0
19.4
81.2
54.9
64.6
54.9
70.8
66.0

82.6
43.8
38.9
63.2
73.6
34.0
78.5
52.8
66.7
77.1

54.9
61.1
44.4
84.7
48.6
31.2
70.1
63.9
66.7
69.5

75.7
60.4
10.4
71.5
62.5
30.6
75.7
57.0
52.1
70.8

75.4
53.8
38.2
59.7
66.5
37.7
72.2
57.1
64.0
70.8

79.2
47.9
70.8
77.1
56.2
29.2
75.0
85.4
72.9
4.2

83.3
50.0
58.3
50.0
54.2
66.7
87.5
70.8
37.5
4.2

72.9
70.8
39.6
66.6
64.6
38.9
52.8
77.8
72.2
50.0

69.4
65.3
58.3
69.4
54.1
47.3
75.0
75.7
59.7
59.0

65.3
65.3
63.9
55.6
57.0
45.8
60.4
79.9
66.7
39.6

80.6
53.5
64.6
64.6
56.9
48.6
79.9
77.1
59.0
11.1

72.0
63.7
56.6
64.1
58.2
45.2
67.0
77.6
64.4
39.9

50.0
56.2
72.9
66.7
64.6
79.2
20.8
25.0

81.2
62.5
66.7
79.2
52.1
91.7
8.3
33.3

62.5
66.7
72.9
87.5
58.3
66.7
20.8
41.7

26.4
77.1
66.7
57.6
62.5
44.4
63.9
46.5

72.9
67.4
75.7
75.0
45.1
16.0
54.8
38.9

80.6
55.5
70.2
75.0
45.8
59.0
50.7
51.4

64.6
61.8
70.8
77.8
58.3
79.2
16.6
33.3

61.1
65.4
70.8
71.4
53.0
49.7
46.5
42.5

78.5
39.6
57.7
95.1
38.2
97.2
18.8
83.3

19.6
17.4
86.8
72.2
66.7
90.3
17.4
97.2

51.4
50.0
91.0
47.2
82.1
41.2
72.2

54.2
20.8
72.9
54.2
75.0
52.1
35.4

62.5
52.1
31.2
79.2
62.5
52.1
77.1
58.3

54.2
58.3
18.8
87.5
56.2
45.8
72.9
41.7

47.9
58.3
20.8
81.2
33.3
62.5
62.5
83.3

52.1
58.3
52.1
95.8
43.8
66.7
31.2
64.6

50.0
50.0
50.0
97.9
31.2
45.8
81.2
58.3

56.2
52.1
66.7
87.5
37.5
91.7
41.7
47.9

75.0
20.8
72.9
45.8
56.2
81.2
12.5
62.5

79.2
54.2
54.2
70.8
43.8
75.0
25.0
81.2

83.3
27.1
50.0
64.6
66.7
93.8
20.8
95.8

77.1
27.1
68.8
62.5
72.9
58.3
16.7
83.3

1955
1956
1957
1958
1959
1960
1961
1962
1963
1964

89.6
58.3
45.8
20.8
83.3
66.7
70.8
16.7
58.3
85.4

81.2
43.8
81.2
6.2
85.4
50.0
54.2
77.1
83.3
68.8

93.8
47.9
50.0
31.2
75.0
47.9
68.8
70.8
70.8
43.8

83.3
85.4
22.9
27.1
91.7
41.7
77.1
64.6
77.1
89.6

81.2
18.8
33.3
68.8
75.0
37.5
66.7
52.1
64.6
85.4

83.3
27.1
60.4
93.8
54.2
22.9
91.7
41.7
58.3
56.2

43.8
60.4
47.9
87.5
64.6
35.4
72.9
58.3
62.5
79.2

52.1
68.8
60.4
83.3
20.8
33.3
81.2
56.2
70.8
66.7

68.8
54.2
25.0
83.3
60.4
25.0
56.2
77.1
66.7
62.5

91.7
64.6
8.3
68.8
45.8
47.9
95.8
27.1
60.4
58.3

68.8
47.9
2.1
87.5
45.8
25.0
75.0
77.1
64.6
77.1

1965
1966
1967
1968
1969
1970
1971
1972
1973
1974

77.1
70.8
66.7
56.2
68.8
29.2
60.4
83.3
58.3
22.9

70.8
62.5
16.7
85.4
45.8
43.8
45.8
72.9
83.3
62.5

70.8
79.2
35.4
58.3
79.2
43.8
52.1
77.1
75.0
64.6

58.3
62.5
75.0
58.3
31.2
54.2
81.2
85.4
35.4
43.8

72.9
75.0
37.5
91.7
60.4
43.8
68.8
66.7
79.2
75.0

77.1
58.3
62.5
58.3
70.8
43.8
75.0
75.0
64.6
58.3

72.9
70.8
50.0
45.8
54.2
54.2
58.3
66.7
64.6
45.8

64.6
54.2
87.5
66.7
54.2
33.3
43.8
87.5
64.6
41.7

58.3
70.8
54.2
54.2
62.5
50.0
79.2
85.4
70.8
31.2

79.2
62.5
64.6
66.7
60.4
50.0
77.1
75.0
66.7
25.0

1975
1976
1977
1978
1979
1980
1981
1982

25.0
79.2
58.3
39.6
62.5
70.8
83.3
33.3

33.3
85.4
72.9
47.9
54.2
20.8
62.5
75.0

20.8
66.7
68.8
85.4
70.8
41.7
45.8
31.3

70.8
58.3
70.8
87.5
16.7
16.7
56.2
20.8

62.5
68.8
72.9
54.2
62.5
16.7
62.5
41.7

85.4
75.0
83.3
83.3
56.2
14.6
45.8
54.2

87.5
56.2
68.8
70.8
52.1
39.6
87.5
60.4

79.2
62.5
75.0
83.3
39.6
70.8
52.1
52.1

75.0
47.9
66.7
70.8
45.8
66.7
12.5
41.7

966. Diffusion index of industrial productJon-24
[Percent rising over 6-month spans]

Average for period

66.7
20.8
95.8
37.5
68.8
62.5
58.3

62.5
75.0
27.1
100.0
29.2
50.0
75.0
64.6

45.8
83.3
41.7
100.0
35.4
79.2
58.3
70.8

45.8
66.7
52.1
95.8
39.6
95.8
45.8
62.5

64.6
56.2
54.2
93.8
37.5
91.7
20.8
83.3

83.3
41.7
54.2
95.8
37.5
100.0
18.8
79.2

87.5
20.8
64.6
95.8
39.6
100.0
16.7
87.5

89.6
14.6
83.3
87.5
58.3
95.8
8.3
91.7

95.8
8.3
85.4
62.5
75.0
91.7
18.8
100.0

83.3
29.2
91.7
66.7
66.7
83.3
25.0
100.0

73.6
15.3
97.9
49.3
66.0
68.8
42.4

51.4
75.0
40.3
98.6
34.7
75.0
59.7
66.0

100.0
62.5
56.2
16.7
95.8
87.5
77.1
75.0
95.8
100.0

100.0
45.8
54.2
33.3
91.7
50.0
91.7
58.3
100.0
100.0

93.8
39.6
54.2
50.0
83.3
25.0
91.7
81.2
87.5
95.8

95.8
50.0
37.5
83.3
79.2
37.5
100.0
70.8
95.8
91.7

87.5
60.4
27.1
91.7
62.5
20.8
91.7
75.0
89.6
95.8

100.0
50.0
22.9
95.8
45.8
20.8
100.0
54.2
87.5
83.3

87.5
58.3
6.2
100.0
35.4
12.5
100.0
70.8
83.3
79.2

87.5
79.2
12.5
100.0
62.5
8.3
95.8
77.1
70.8
95.8

91.7
70.8
4.2
95.8
70.8
16.7
87.5
75.0
83.3
85.4

79.2
83.3
2.1
100.0
83.3
25.0
95.8
77.1
87.5
87.5

75.0
79.2
4.2
91.7
77.1
43.8
91.7
75.0
75.0
93.8

98.6
62.5
56.2
19.4
95.8
72.2
72.9
70.8
95.8
98.6

92.4
50.0
39.6
75.0
75.0
27.8
94.5
75.7
91.0
94.4

91.7
62.5
13.9
98.6
47.9
13.9
98.6
67.4
80.5
86.1

82.0
77.8
3.5
95.8
77.1
28.5
91.7
75.7
81.9
88.9

91.2
63.2
28.3
72.2
74.0
35.6
89.4
72.4
87.3
92.0

83.3
91.7
50.0
95.8
79.2
25.0
62.5
100.0
83.3
45.8

91.7
95.8
50.0
89.6
75.0
33.3
75.0
91.7
87.5
37.5

79.2
83.3
41.7
93.8
75.0
20.8
70.8
87.5
83.3
45.8

87.5
75.0
41.7
91.7
66.7
37.5
70.8
79.2
95.8
56.2

87.5
75.0
72.9
81.2
75.0
39.6
75.0
91.7
87.5
45.8

79.2
66.7
85.4
79.2
66.7
62.5
75.0
95.8
83.3
45.8

91.7
70.8
70.8
83.3
87.5
50.0
70.8
83.3
87.5
50.0

95.8
66.7
87.5
77.1
60.4
45.8
75.0
93.8
83.3
4.2

87.5
62.5
83.3
77.1
45.8
47.9
83.3
79.2
66.7
4.2

91.7
62.5
87.5
75.0
39.6
50.0
95.8
87.5
52.1
4.2

91.7
50.0
89.6
87.5
35.4
52.1
95.8
83.3
58.3
12.5

95.8
41.7
91.7
79.2
33.3
41.7
93.8
83.3
45.8
4.2

84.7
90.3
47.2
93.1
76.4
26.4
69.4
93.1
84.7
43.0

84.7
72.2
66.7
84.0
69.5
46.5
73.6
88.9
88.9
49.3

91.7
66.7
80.5
79.2
64.6
47.9
76.4
85.4
79.2
19.5

93.1
51.4
89.6
80.6
36.1
47.9
95.1
84.7
52.1
7.0

88.6
70.1
71.0
84.2
61.6
42.2
78.6
88.0
76.2
29.7

8.3
83.3
83.3
83.3
62.5
25.0
79.2
0

16.7
75.0
91.7
79.2
66.7
16.7
70.8
12.5

54.2
87.5
91.7
91.7
50.0
12.5
58.3
33.3

70.8
79.2
83.3
87.5
56.2
16.7
54.2
41.7

83.3
75.0
87.5
87.5
54.2
12.5
58.3
37.5

87.5
75.0
83.3
85.4
45.8
16.7
45.8
33.3

87.5
75.0
89.6
87.5
66.7
37.5
31.3
33.3

95.8
70.8
87.5
87.5
50.0
70.8
20.8
25.0

91.7
70.8
83.3
91.7
54.2
87.5
16.7
37.5

95.8
79.2
75.0
91.7
66.7
95.8
8.3
45.8

91.7
79.2
79.2
79.2
62.5
95.8
8.3
60.4

91.7
83.3
75.0
83.3
41.7
95.8
10.4
75.0

26.4
81.9
88.9
84.7
59.7
18.1
69.4
15.3

80.5
76.4.
84.7
86.8
52.1
15.3
52.8
37.5

91.7
72.2
86.8
88.9
57.0
65.3
22.9
31.9

93.1
80.6
76.4
84.7
57.0
95.8
9.0
60.4

72.9
77.8
84.2
86.3
56.4
48.6
38.5
36.3

44.9
70.5
92.3
28.2
47.4
39.8
51.3

56.4
47.4
79.5
55.1
42.3
46.1
52.5

42.9
72.8
45.8
38.8
40.4
54.5

1947
1948
1949
1950
1951
1952
1953
1954

75.0
12.5
97.9
62.5
66.7
77.1
25.0

79.2
12.5
100.0
47.9
62.5
66.7
43.8

1955
1956
1957
1958
1959
1960
1961
1962
1963
1964

95.8
79.2
58.3
8.3
100.0
79.2
50.0
79.2
91.7
95.8

1965
1966
1967
1968
1969
1970
1971
1972
1973
1974
1975
1976
1977
1978
1979
1980
1981
1982

967. Diffusion index of spot market prices—13 raw industrial materials <$
[Percent rising over 1-month spans]
1947
1948
1949
1950
1951
1952
1953
1954

IV Q

51.4
58.3
30.6
88.2
44.4
58.3
55.5
63.2

75.0
54.2
18.8
77.1
52.1
75.0
58.3
66.7

1947
1948
1949
1950
1951
1952
1953
1954

JJL

Average for period

30.8
61.5
92.3
23.1
26.9
46.2

23.1
7.7
26.9
65.4
26.9
46.2
34.6

23.1
26.9
57.7
34.6
30.8
46.2
73.1

53.8
19.2
61.5
46.2
23.1
3.8
73.1

53.8
42.3
73.1
30.8
42.3
57.7
46.2

42.3
34.6
76.9
30.8
50.0
46.2
69.2

46.2
53.8
88.5
11.5
42.3
42.3
30.8

50.0
88.5
96.2
26.9
46.2
46.2
42.3

38.5
69.2
92.3
46.2
53.8
30.8
80.8

50.0
23.1
73.1
61.5
34.6
26.9
53.8

69.2
69.2
84.6
50.0
42.3
61.5
50.0

50.0
50.0
80.8
53.8
50.0
50.0
53.8

21.8
48.7
64.1
26.9
39.8
51.3

50.0
32.0
70.5
35.9
38.5
35.9
62.8

1955
1956
1957
1958
1959
1960
1961
1962
1963
1964

76.9
46.2
34,6
46.2
42.3
65.4
38.5
69.2
53.8
57.7

65.4
50.0
30.8
38.5
50.0
46.2
73.1
34.6
61.5
50.0

42.3
50.0
46.2
38.5
73.1
42.3
80.8
46.2
46.2
46.2

65.4
42.3
46.2
38.5
50.0
50.0
69.2
38.5
50.0
69.2

38.5
23.1
42.3
61.5
57.7
42.3
57.7
53.8
46.2
26.9

73.1
26.9
50.0
73.1
57.7
57.7
42.3
30.8
61.5
26.9

76.9
46.2
38.5
92.3
53.8
46.2
53.8
30.8
34.6
61.5

53.8
73.1
42.3
76.9
57.7
46.2
76.9
46.2
42.3
73.1

69.2
73.1
26.9
34.6
65.4
34.6
53.8
50.0
46.2
65.4

38.5
61.5
34.6
69.2
53.8
23.1
42.3
57.7
73.1
88.5

84.6
65.4
38.5
88.5
61.5
46.2
26.9
76.9
65.4
69.2

69.2
50.0
50.0
30.8
53.8
26.9
61.5
34.6
61.5
50.0

61.5
48.7
37.2
41.1
55.1
51.3
64.1
50.0
53.8
51.3

59.0
30.8
46.2
57.7
55.1
50.0
56.4
41.0
52.6
41.0

66.6
64.1
35.9
67.9
59.0
42.3
61.5
42.3
41.0
66.7

64.1
59.0
41.0
62.8
56.4
32.1
43.6
56.4
66.7
69.2

62.8
50.6
40.1
57.4
5