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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