Full text of Survey of Current Business : April 1954
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APRIL
rar
U. S. DEPARTMENT OF COMMERCE
OFFICE OF BUSINESS ECONOMICS
1954
SURVEY
OF C U R R E N T
BUSINESS
No. 4
APRIL 195 I
DEPARTMENT OF C O M M E R C E
FIELD SERVICE
Albuquerque, N. Mex,
204 S. 10th St.
Los Angeles 15, Calif.
112 West 9th St.
Atlanta 5, Ga.
50 Seventh St. NE.
Memphis 3, Tenn.
229 Federal Bldg.
Boston 9, Mass.
Miami 32, Fla.
U. S. Post Office and
Courthouse Bldg.
Buffalo 3, N. Y.
117 EUicott St.
PAGE
THE BUSINESS SITUATION
I
The Trend of Personal Income Components .
3
Charleston 4, S. C.
Area 2,
Sergeant Jasper Bldg.
Cheyenne, Wyo.
307 Federal Office Bldg.
36 NE. First St,
Minneapolis 2, Minn.
607 Marquette Ave.
New Orleans 12, La.
333 St. Charles Are.
New York 13, N, Y.
346 Broadway
Philadelphia 7, Pa.
*
*
Chicago 1, III.
226 W. Jackson Blvd.
*
Cincinnati 2, Ohio
755 U. S. Post Office
and Custom House
SPECIAL ARTICLES
The Recent Pattern of Consumption
Financing Corporate Business
. . . .
5
. . . . . . . 13
Foreign Grants and Credits of the United
States in 1953
17
*
*
Statistical Index
23
Inside back cover
Published by the U. S. Department of Commerce, SINCLAIR WEEKS,
Secretary. Office of Business Economics, M. JOSEPH MEEHAN,
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Phoenix, Ariz*
137 N. Second Ave.
Pittsburgh 22, Pa.
717 Liherty Ave,
Portland 4, Oreg,
520 SW. Morrison St.
Dallas 2, Tex.
1114 Commerce St.
Reno, Nev.
Denver 2, Colo.
142 New Custom House
Richmond, Va.
400 East Main Si.
Detroit 26, Mich.
230 W. Fort St.
St. Louis 1, Mo.
1114 Market St,
El Paso, Tex.
Chamber of Commerce
Bldg.
Salt Lake City 1, Utah
Houston, Tex.
430 Lamar St.
San Francisco 2, Calif.
870 Market St.
JacksonvUle 1, Fla.
311 W. Monroe St.
Savannah, Ca.
125-29 Bull St.
Kansas City 6, Mo.
911 Walnut St.
Seattle 4, Wash.
909 First Ave.
1479 Wells Ave.
if
MONTHLY BUSINESS STATISTICS . . S-l to S-40
Revised Statistical Series
Cleveland 14, Ohio
1100 Chester Are.
1015 Chestnut St.
109 W. Second St. So.
For local telephone listing, consult section
devoted to U. S. Government
APRIL 1954
uauon
By the Office of Business Economics
JjUSINESS activity continued to ease during the first
quarter with diverse movements in various sectors of economic activity. During the quarter reduction in manufacturing production has centered in the durable goods
industries while there has been little further change in
nondurables output. Production has been below, final
demand, as inventory liquidation continued.
Business Sales and Construction Activity
Ddrable goods sales have declined during
the past year
Prices remain fairly stable
MANUFACTURERS
RETAILERS
0 ' i I i I i I i i i ' i l l I I ' ' j ' j j J...lJ ' ' ' ' | I ' | ' i i I i i i i i
Nondurable sales have remained relatively stable
MANUFACTURERS
10 RETAILERS
Scattered information available for March, after allowing
for seasonal changes indicates a continuation of the mixed
trends of previous months. Total production and employment seasonally adjusted moved downward but improvement was noted in some sectors. Motor vehicle output in
March was above February both in total and on a daily
average basis. March daily average output was also higher
than in the preceding month in such other products as paperboard, television sets and crude petroleum. Steel production was down from February but moved sideways at about
68 percent of capacity from mid-March to mid-April. Construction continued extremely active with March volume
showing a larger than seasonal rise from February.
Indicative of the moderate rate of economic adjustment
has been the relatively small decline in total personal income
since last summer notwithstanding the fairly marked drop
in wage and salary payments in the commodity producing
industries. With personal taxes lower than last year,
income available for personal use has shown but little change
since last summer and is higher than in the same period last
year.
Durables affected
Private construction activity'has continued strong
1.5 —
••'•'•--
-
•
- <•'••
-
'RESIDENTIAL
(JNONFARM)
\
NONRES1DENTIAL
(INCL. PUB. UTIL. *
!9SI
I95E
SEASONALLY
293006°— 54 - 1
FARM)
1953
1954
ADJUSTED
'
''
& O, C. * , *
'
DATA; O.B.C. a 8.0.SA
'
'
$4-13-$
most
Information on manufacturers' sales reveals the divergent
movements between the durable and nondurable producers.
February shipments by manufacturers of durables were 2
percent below January seasonally adjusted and 10 percent
down from February 1953. Shipments by makers of nondurables, on the other hand, were virtually the same in
February as in January and 2 percent above the corresponding month of last year. The decline in the durable goods
industries from a year ago is associated with the reduction
in the output of defense goods and a lowered demand for
consumer durables, particularly automobiles as well as some
reduction in inventories.
Liquidation of business inventories continued in February
at roughly the same pace as in January. Since the year-end,
seasonally adjusted inventories in manufacturing and trade
have been reduced $700 million in book value. The drop
was centered in the durable goods groups as manufacturers,
wholesalers and retailers of these products cut back on stocks.
SURVEY OF ( T R R K X T BUSINESS
Xe\v orders received by manufacturers in February
recovered from the exceptionally low January rate. For the
2 months incoming* orders averaged moderately below the
fourth quarter of 1953. The new order volume for durables
continued substantially below shipments so that there was
a further reduction of unfilled orders. Current activity
continued to rest partly upon the sizable unfilled order
backlog which at the end of February aggregated 4/9 months
of current shipments, a rate still considerably above that of
the pre-Korean period.
In the case of those nondurable goods industries which
accept forward orders and build up some unfilled orders
(i. e., textile, leather and paper products and printing and
publishing) February new orders exceeded shipments on an
adjusted basis for the first time since mid-1953.
Retail sales
Retail sales in the first 3 months of this year, •seasonally
adjusted, were about 2 percent below the fourth quarter of
1953 and some 4 percent less than in the corresponding
months of last year. These declines were centered almost
entirely in the durable goods group, with nondurable goods
sales in the first quarter being at about the same rate as in
the first and fourth quarters of last year.
The major change from the fourth quarter of 1953 to the
first quarter of this year has been in the reduced sales by
the automotive dealers, although both February and March
have shown improvement over the exceptionally low January
rate. First quarter sales of the furniture, applicance, food,
and apparel groups compare favorably with the last 3 months
of 1953, while general merchandise sales have been somewhat
reduced.
Construction Activity
Construction activity has strongly bolstered aggregate
demand so far this year. The value of construction work
in the first 3 months of 1954 exceeded—after seasonal
adjustment—the previous high mark achieved in the first
half of 1953. Total construction reached, a seasonally
adjusted annual rate of $36 billion in the first quarter compared with $34% billion in the last quarter of 1953, with work
done for Government, business and individuals all sharing
in the increase.
Construction costs have varied within a narrow range
during the past year, although in recent months small cost
declines have become evident in most types of construction.
The Department of Commerce composite cost index is
currently about 1 percent below the high reached in the third
quarter of 1953. Most building materials prices are slightly
below 1953 high marks with the average of lumber prices
down about 5 percent. Hourly earnings in the building
trades have continued to rise, however, and in the early part
of this year were 4 percent above the 1953 average.
Residential construction continues high
Residential construction has been running at a seasonally
adjusted annual rate of approximately $12 billion, about the
same as the first half of last year and one-half billion dollars
above the second half. New housing demand continues
strong; favorable factors in the current situation including
improved financing terms since last fall, stable to lower real
estate prices, and rising rents.
The general easing in money market conditions in recent
months has brought renewed interest in Governmentunderwritten home mortgages on the part of lenders. Discounts on Veterans Administration home loans in secondary
markets have been reduced. Mortgages are being closed
with more favorable terms to final purchasers relative to last
fall, while applications for VA loans on new construction
have risen markedly.
The number of units involved in VA appraisal requests in
February was the highest since October 1950; new units in
FHA applications have also recovered considerably from the
lows of last summer and fall. These applications for Government insurance and guarantees are suggestive of continued
strength in the volume of work done on new housing in the
near-term.
Last year uncertainty over the financial situation was a
significant factor in the slowdown in housing starts during
the late spring and summer, with the result that home building activity declined moderately following the second quarter.
Late in the year, however, with home mortgages appearing
relatively more attractive to lenders as a result of falling interest rates on Government bonds and the earlier increase in
FHA-VA rates, there was a pickup in seasonally adjusted
starts which has carried into the opening months of this year.
The annual rate of starts in January and February although
below a year ago, averaged somewhat higher than the total
of 1.07 million units for the full year 1953, the second best
year on record.
One aspect of the improvement in financing may be seen
in the rising proportion of Veterans Administration home
loans being made with no downpayment and with maturities
of 25 years or more. In February over 15 percent of all
home loans closed involved no down payment, in contrast to
almost 12 percent in the fourth quarter of last year and 9
percent in the third quarter. Similarly, loans with maturities of 25 years or more were 56 percent of the VA total this
February as compared with 48 percent in the fourth quarter
and 42 percent in the third quarter.
Non residential trends
Private nonresidential construction has also exhibited
buoyant tendencies this year. This current high rate of
activity is generally consistent with recently reported plans
of business indicating that aggregate investment in 1954 is
expected to be within a few percent of the 1953 rate.
Industrial construction picked up in the first quarter after
declining through most of 1953, the seasonally adjusted rate
being within 5 percent of the 1953 average. Store and office
building construction have continued to make new records
for the postwar period although the fourth to first quarter increase was much smaller than in the two preceding quarters.
Other types of nonresidential construction—religious, educational, and social and recreational—have also continued to
display a firm tone, in large part reflecting demands arising
out of the growth of new residential communities.
In the public utilities area activity edged off slightly from
the fourth to the first quarter but was still slightly above the
average 1953 rate. The rails are reducing their construction
outlays but telephone and other public utilities are maintaining a high rate of expenditure.
Federal outlays lower
Public construction has held up well this year notwithstanding sharp cutbacks in Federally financed and assisted
programs. At a seasonally adjusted annual rate of $11/2
billion, public construction outlays in the first quarter were
about 6 percent above the fourth quarter and 4 percent
above the first quarter 1953 rate. Gains over the last quarter were most pronounced in school building and in highway,
sewer, and water work. Public residential building continued the downward trend under way since 1952 but mili-
SURVEY OF CURRENT BUSINESS
April V.>r>4
tary and naval construction leveled off after having decreased
throughout 1953.
Although Federally financed construction has declined both
•absolutely and relatively from a year ago, inclusive of Federal
grants-in-aid it still constitutes about two-fifths of total public
construction. This compares with a ratio of about one-fourth
in the few years just before the Korean hostilities, and about
45 percent in early 1953.
The Trend of Personal Income Components
PERSONNEL INCOME in the first two months of 1954 has continued at a rate not far below the peak reached last summer
despite the downward drift in recent quarters. In February
1954, the latest month for which data are available, personal
income was at a seasonally adjusted annual rate of $283
billion. With the reduction in Federal individual income
taxes which took place at the beginning of this year, disposable personal income is very close to the peak rate of last
summer, and well above a year ago.
Reduction in payrolls
The decline in personal income since mid-1953 has been
/argely confined to wages and salaries in the manufacturing,
mining and railroad industries, and to Federal government
payrolls. Manufacturing payrolls in durable goods industries were down almost 12 percent through February from
the very high rate in July 1953, 9 percent below last year
but 10 percent above February 1952.
Since last July, the decline in wages and salaries in the
nondurable goods manufacturing industries was 7 percent
while that in the railroad and mining industries was 10
percent. Federal Government payrolls have been cut by
$1 billion (annual rate) during this period with the reduction
about equally divided between civilian and military pay.
However, this reduction has been offset by the persistent
rise in State and local government emploj^ee compensation.
Wages and salaries in trade and the remainder of the economy
seasonally corrected have moved generally sidewise since last
summer.
While income from wages and salaries seasonally adjusted
was 3 percent below last summer's peak, at an annual rate
of $194.7 billion in February 1954, it was, none the less,
equal to the February 1953 total and nearly 9 percent
Higher than in February 1952.
Income other than wages and salaries has continued to
advance in the aggregate, with all major types except iionfarm proprietors' income showing increases since mid-1953.
The total rise in other personal income components, inclusive of benefits to the unemployed, has offset about twofifths of the reduction in pay rolls.
Higher transfer payments
Government transfer payments, now at an annual rate of
$14 billion, have risen by more than one-tenth since mid1953 (see chart). Most of this increase has occurred as a
result of larger unemployment benefit payments which rise
promptly with any down-turn in employment, thereby
moderating the effects of declines in wage income.
About three-fifths of the civilian labor force are employed
in jobs covered by unemployment insurance programs.
Coverage includes almost all employees in the manufacturing
and railroad industries where employee reductions have
centered. Benefit payments averaging more than $24
Government transfer payments are rising
due chiefly to higher unemployment and
retirement benefits
BILLIONS OF DOLLARS
TOTAL GOVERNMENT
TRANSFERS
4 h-
1952
I
1953
I
1954(^
QUARTERLY TOTALS, SEASONALLY ADJUSTED, AT ANNUAL RATES
OFFICE OF BUSINESS ECONOMICS. U. S. D. C.
«
weekly for the State unemployment insurance programs and
about $30 weekly for railroad employees are available for
a maximum of 20-26 weeks.
Unemployment benefit payments have increased since the
fall of 1953 and have provided a partial offset to wage losses.
SUEVEY OF CURRENT BUSINESS
From July 1953 to February 1954, these benefit payments
rose by about $1 billion as compared with the $6.3^billion
drop in private wages and salaries, both at seasonally adjusted annual rates.
The States now have about $9 billion on deposit in the
U. S. Treasury for the purpose of unemployment insurance
reserves. These reserves, which had been rising steadily for
the past several years, have been stable during the last 6
months.
Government transfer payments for old age retirement have
also been rising. Benefit payments from the Federal Old
Age and Survivors' Insurance^fund and the retirement funds
of government and railroad employees in the first quarter
1954 were at a rate of more than $5 billion annually—an
amount one-sixth larger than that in the first 3 months of the
previous year and four times the rate at the end of World
War II.
Higher benefit rates and changes in the formula for computing benefits have been factors in this rise but the increasing number of persons becoming eligible for such payments
is noteworthy. There are now more than 6 million beneficiaries of the various old-age-retirement programs and the
number is increasing steadily. In the postwar period, the
number of beneficiaries has increased by an average of more
than 500,000 annually.
Table 1.—Cash Receipts From Farming and Farm Price Support
Loans and Purchases
Calendar years
1948
1949
1950
1951
1952
1953
_
_._
Cash
receipts
from
farming
Loans and
purchases as a
Price
support
percent of
farm cash
loans and
purchases l
receipts
30.2
27.9
28 3
1.1
1.8
— 8
3.6
6.5
32.8
32.4
31.0
-.9
.6
3.2
1.8
10.4
1. Price support loans include direct loans by the Commodity Credit Corporation and loans
which are guaranteed by the CCC, but are financed by private lending institutions. Loans
are net of repayments as shown in the monthly financial reports of the CCC. Loans reported
in this statement differ from those included in farm cash receipts because of time lags in
reporting but the difference is generally not appreciable. Tobacco loans are excluded since
price support operations for tobacco are conducted through cooperative associations even
though the CCC finances the loans. Direct purchases represent the change in CCC inventories less loans canceled by acquisition.
Source: U. S. Department of Agriculture, Agricultural Marketing Services and Commodity
Credit Corporation; U. S. Department of Commerce, Office of Business Economics.
Transfer payments arising from the various veterans'
benefit programs show a general decline but this trend has
been interrupted by special Government Life Insurance
dividends and mustering-out payments which have been
heavy in particular quarters. Payments to veterans of the
recent conflict in Korea are increasing, but so far, this effect
has been largely offset by the decline in transfers to World
War II veterans.
Property income rising
The gradual upward movement in personal income from
property has been continued. Dividends and interest combined were at an annual rate of $23 billion in February 1954—
up $% billion from that of last July.
Income from dividends has continued its moderate upward trend, reflecting the increase in share capital outstanding as well as some rise in the proportion of corporate profits
distributed as dividends. Cash dividends paid by corporations issuing public reports in the 6 months ended February 1954 were 5% percent larger than in the comparable
period a year earlier. Both manufacturing and nonmanufacturing corporations.contributed to the increase.
Private and government interest payments have continued
their
slow upward movement. It may be noted that short
April 1954
term fluctuations in interest rates have a negligible influence
upon the aggregate income flow to consumers since this is
determined largely by the volume outstanding under longterm contracts.
With the continued expansion of the stock of houses and
other properties and a further gradual rise in average rents,
the rental income of persons has also continued its gradual
rise.
Little recent change in proprietors' income
Nonfarm entrepreneurial income has edged downward
since mid-1953, but in February the seasonally adjusted
total was down less than 2 percent from that in July 1953.
The reduction has centered in retail trade. It should be
noted that these estimates exclude inventory profits or losses
arising from changes in the cost of replacing inventories.
Farm proprietors' net income is now running at a rate
considerably below that reached earlier in the postwar period but the decline occurred before mid-1953. During
1952 and through the first half of last year, a period during
which nonfarm income was rising, farm income dropped by
more than one-fifth. Since July 1953 farm income has
shown no further reduction. The price support program
has been an important factor in the recent period.
Although total cash receipts from farming in 1953 were
almost $2 billion less than in the record year 1951, receipts
from crops, while down somewhat from the previous year,
were actually larger than in 1951. Last year farm price
support loans (net of repayments) and direct purchases for
inventory by the Commodity Credit Corporation amounted
to $3.2 billion—about 10 percent of total cash receipts or 20
percent of cash receipts from crops. These proportions were
larger than in an}^ previous year. Operations were increasing during the year and have continued heavy in early 1954,
although down somewhat from the seasonal peak of marketings late in 1953.
The major support operations are concerned with crops
(rather than livestock). Prices are generally supported by
means of nonrecourse loans. If the farmer chooses not to
redeem the loan because the market price is below the support price, the collateral is added to the inventories of the
Commodity Credit Corporation. Direct purchases of farm
commodities by the Corporation have been small relative to
the crop loans.
Price support loans are available on a wide variety of
crops but corn, wheat and cotton account for the bulk of
such loans. In the last 6 months of 1953 about 5% million
bales of cotton—almost one-third of the estimated 1953
crop—went under loan. These cotton loans totaled close
to $1 billion and accounted for almost half of the total price
support loans during this period. With loans on the 1953
cotton crop available through the end of April, an additional
1 million bales were placed under loan in the first 2 months
of this year. In subsequent weeks there was some withdrawal of cotton as the market price rose above the loan
rate.
More than 550 million bushels of wheat from the 1953
crop, representing almost one-half of the total, were placed
under price support. In dollar terms, the loans amounted
to $1.2 billion. Price support operations for corn w^ere also
large in 1953, totaling $0.4 billion as 285 million bushels from
the 1952 and 1953 crops were placed under loan. An additional 190 million bushels of corn from the 1953 crop went
under loan from January 1 to February 15, 1954. Loans on
other crops such as barley, oats, flaxseed, etc., increased
sharply in the last quarter of 1953 and continued heavy
through January 1954. Moreover, direct purchases of
dairy products for the Commodity Credit Corporation inventories were unusually large in the first 3 months of this year.
by Louis J. Paradiso
«./
The Recent Pattern of Consumption
c
ONSUMER buying reached a peak rate in the third
quarter of 1953, and has since declined only slightly in total.
The comparative strength of consumer purchasing has been
a sustaining market factor, but variations among commodity
and service purchasing have had important consequences on
business sales and on employment and income. Consumers
take nearly two-thirds of the total output of goods and services, and the intensity of their demand is an important influence on the course of total business activity.
From the point of view of business firms, major interest
centers in the volume and shifts in consumer purchases by
lines. From the point of view of general business analysis,
interest focuses on the trend of purchasing power and its
use. This article is concerned with analyses bearing on
both aspects.
The divergence in the movement of goods and services had
an important impact, since a given change in expenditures
for services has a much smaller effect on employment and
production than an equal change in purchases of goods. This
differential effect partly accounts for the more pronounced
declines in the consumer goods industries than is apparent
from the small decline in total consumption. The appreciable drop in goods purchased resulted in unfavorable inventory-sales ratios in many lines and the industries affected
curtailed their purchases of materials and reduced production
in an attempt to curtail stocks.
Table 1.-—Income and Consumption, Selected Periods
[Billions of dollars, seasonally adjusted at annual rates]
Recent purchases of goods
The developments in consumer demand in the past year
may be characterized by: (1) a leveling off in total consumption expenditures not far from the high reached in the latter
part of 1953 after a period of sustained advance; and (2) a
shift in purchases among major types of goods and services.
Total personal consumption expenditures for goods and
services reached an annual rate of $231 billion in the third
quarter of 1953. A small drop of $1 billion occurred in the
fourth quarter, and preliminary indications are that this
rate was maintained in the first quarter of 1954. Purchasing
power, as measured b}^ personal disposable income, also
showed little change after the third quarter of last year.
The cut in personal income tax rates which went into effect
on January 1, 1954, contributed to the maintenance of this
buying power which so far in 1954 is higher than a year ago,
though off slightly from the mid-1953 high point.
Mixed trends in the pattern of buying within a comparatively stable total have had important effects on total
production and employment. The following table shows
the changes in major categories of consumer purchases from
the first quarter 1953 to the first quarter 1954, computed
from preliminary estimates of recent buying.
From the third quarter of 1953 to the first quarter of 1954,
consumer buying of goods dropped about 2 percent.1 This
was partly offset by a rise in expenditures for services, of
which about half is accounted for by the increase in housing.
The decline in the purchases of durable goods was quite pronounced, amounting to about 7 percent during this period,
most of which occurred in passenger automobiles and parts.
In contrast, purchases of nondurables declined very little.
1. It may be noted that the decline in seasonally adjusted retail sales from third quarter
1953 to first quarter 1954 was 3 percent. The decline in consumer purchases of goods of 2
percent is consistent with the retail sales movement. Part of the autos sold by retailers are
for business use and most of the sales of the building materials, hardware and farm implement
dealers are bought for other than personal consumption. These groups have shown more
pronounced declines than the other major kinds of retail businesses.
NOTE.—MR. PARADISO IS CHIEF STATISTICIAN AND ASSISTANT DIRECTOR. MR. L. JAY ATKINSON OF THE CURRENT BUSINESS ANALYSIS
DIVISION ASSISTED IN THE PREPARATION OF THE ARTICLE.
1952
1953
1953
Change— first
quarter 1954
from:
1953
1952
I
I
I
I
III
Disposable income
.
Total personal consumption expenditures
228.7
213.7
245. 4
227.7
249.8
231.0
4
2
21
16
Goods
Durables
_ _
Autos and parts
Nondurables
Food clothing and shoes
Services
Housing
_
143.2
26.0
9.9
117.2
92.0
70.5
23.2
151. 4
30.2
13.4
121.2
95.1
76.3
25.3
151.7
30.4
13.8
121.3
94.4
79.2
26.4
-3
2
-2
-1
-1
5
2
5
2
2
3
2
11
4
__ _ _ _
-
__ _ _
Source: U. S. Department of Commerce, Office of Business Economics.
Production was affected more by the decline in Federal
government purchases and by the lowered business purchasing to adjust inventories than by the change in consumer
buying. Many firms built up inventories to the point where
in mid-1953, with a general easing of demand pressures in
the economy, they appeared high in relation to current and
anticipated demand. Manufacturing and trade stocks were
reduced primarily in the durable goods sectors, although
some liquidation also occurred in nondurable lines even
though here inventory-sales ratios were not particularly
high.
Personal saving maintained
The recent parallel movement between personal consumption and income has been accompanied by the maintenance
of the volume of personal saving at about the rate of the
preceding 3 years. In this period, the ratio of personal
saving to disposable personal income has been higher than
the average of the earlier postwar years and of the prewar
years. Correspondingly, the ratio of spending to income
has been lower.
6
SURVEY OF CURRENT BUSINESS
111 1953, consumer expenditures comprised 93 percent of
disposable income. The ratio was fairly steady throughout
the quarters of that year and preliminary indications are
that it was roughly the same in the first quarter of 1954.
A p r i l lir,4
special catching-up influences following World War II. as
consumers bought goods unavailable or in short supply
during the war. As these influences diminished in force in
the subsequent period, the spending-income ratio declined.
Consumers' taking of total output
Consumer Expenditures and Income
Consumer expenditures have paralleled
disposable income in the past three years
BILLIONS OF DOLLARS
325
300
PERSONAL INCOME
275
250
225
200
PERSONAL CONSUMPTION
EXPENDITURES
175
-
25 ~
In the past year durables have declined
while services have risen
150
NONDURABLE GOODS
;
125
;
100
\
N
••«
—
—»••«•
SERVICES
„,— -—
—
«•»
I
\
75
^~—
^***
5
~~~~
I
50
., DURABLE GOODS
1
25
1
0
s^-^r
i i i i i i
1950
1
1951
-.
!
!
1952
1
!
1
!
1953
1
|
1954*
QUARTERLY TOTALS, SEASONALLY ADJUSTED, AT ANNUAL RATES
:"
* PRELIMINARY ESTIMATE
j
f-
OFF/CE OF BUSINESS ECONOMICS. U. S 0. C.
|
*
s
54-13-4
X
$
The spending-income ratio of the past 3 years compares
with an average of about 96 percent in the high employment
peacetime years of the past 3 decades. The spendingincome ratio was high in the 1947-50 period ranging from
Digitized for 94
FRASER
percent to 98 percent. This was associated with the
Another way of appraising the position of consumption is
to consider it in relation to total output. Although total
personal consumption expenditures were at a peak in 1953,
their proportion to gross national product was quite low—
03 percent. This compares with 69 percent in 1948, 7i
percent in 1940, and 76 percent in 1929. In fact, in the
past three decades only in the war years 1942-45 has the
consumer portion of total sales been lower than in the
Korean period.
This ratio in the past 3 years is a reflection of a shift in the
use of resources with more going to the government military
program and less to private buying. The Federal government, as it stepped up the defense program, increased its
share of total output from 8 percent in 1950 to 16 percent
in 1953. This was accompanied by a reduction in the proportion of personal consumption expenditures to gross
national product from 68 percent in 1950 to 63 percent in
1953, though consumption increased over this period. The
proportion of investment to total product declined moderately from 1950 to 1953. .
The expansion in Federal government purchases was
accompanied by an increase in personal tax rates which
resulted in a much smaller increase in disposable personal
income from 1950 to 1953 than in personal income. Thus,
as the following table shows, the decline from 1950 to 1953
in the ratio of consumption to personal income—namelv
5 percentage points—was the same as the drop in the proportion of consumption to gross national product.
This compares with a reduction of less than 2 percentage
points in the ratio of consumption to disposable income,
which decline accounted for an increase in the saving ratio.
When these ratios for 1953 are compared with 1929, the
shift is even more pronounced—the ratios of consumption
to gross national product and personal income declined bv
almost the same amount—about 12 percentage points each—
whereas the ratio of consumption to disposable income
dropped by less than 3 percentage points.
This shift simply reflects the greater importance of government requirements now than a quarter of a century ago, a
difference accounted for by defense needs since the growth of
other government services has been in line over this period
with the earlier trend. A reduction in government needs,
accompanied by a cut in personal taxes, would make possible
a shift in. resources to personal consumption and a rise in the
proportion of the consumer's share of the national product.
The shift in resource use may be viewed in terms of the
long-run trend of the three major components of national
product—consumer purchases, investment, and government
purchases. In the past 50 years, real personal consumption
expenditures have shown a persistent long-term growth
averaging 2.7 percent per year, exclusive of the depression
years of the thirties and war periods.
Fluctuations around this growth trend have been much less
pronounced than the swings around the long-term trend of
investment and government purchases—in other words consumption has been more stable than the other two. Real
investment has shown wide fluctuations about a secular
growth trend which has averaged a little more than 3 percent
per year. Government purchases of goods and services, in
real terms, including the Federal and State and local governments, have for obvious reasons shown the most pronounced
swings in war and defense periods. Aside from such periods,
SURVEY OF CURRENT BUSINESS
April 1954
however, these purchases have tended upward at an average
rate of about 4 percent per year. The trends of these three
major sectors have combined in a long-term growth of the
nation's output at a rate averaging 3 percent per year.
Between 1950 and 1953 real personal consumption expenditures increased 6 percent. This was a somewhat slower
rate than that indicated by the secular growth, but even
with the rapid expansion of military needs during this period
we were able to expand real per capita purchases of goods
and services by a moderate amount. Real investment, which
was at an exceptionally high rate in 1950 rose further in 1951
Table 2.—Comparison of Personal Consumption Expenditures and
Total Output and Income
[Percent]
Personal consumption expenditures to—
P"
Personal
Disposable
75. 9
71. 1
92. 6
92. 1
95. "
95. 1
] U4
52.2
67. 3
75
1 >ls
68. 7
67 8
63. 1
62 7
62. t>
84. 9
85 8
81.8
80 9
80. 8
91. 1
94. -r
92 "
] t29
1 MO
1
1
1
]
.
_,-
. .
. .
)5()
Ml
)52
)53
c
Some shift has also been evident from prewar in the
proportion going for autos and parts—6 cents out of each
expenditure dollar in 1953, compared with 4 cents in 1929
and 1941. 'The proportion spent for the remaining goods
and services as a group has been fairly constant since 1941,
although smaller than in 1929. The detailed composition
of this heterogeneous grouping has, of course, changed
markedly.
Some of the changes noted have resulted from the fact
that consumers tend to spend proportionately more on certain
goods and services as income rises. This is the case, for
example, for autos and parts and to a lesser extent for sonic
major types of consumer durables.
Similar shifts are evident in considering the ratios of
consumption by major categories to disposable personal
income. The following table shows these ratios for specified
periods.
Consumption-income relations
Expenditure-income relationships are useful in, furnishing
guides to the current patterns. Significant shifts have at
times occurred because of special factors, and as a consequence, simple relationships, such as ratios or linear regressions, will not account for all of the changes. Judgment
^g^^^^
92>
Shifts in Consumer Buying
Source: U. S. Department of Commerce, Otlice of Business Economics.
to meet government arid other needs, and subsequently declined in relation to total o u t p u t . Government purchases in
real terms, on the other hand, increased by four-fifths.
Major groups of purchases as a percent of
total consumer expenditures
The buying dollar
Some pronounced changes in the pattern of consumer
buying of different goods and services have been evident in
the past several years. As the chart indicates, consumers in
1953 used 35 cents out of each dollar spent for food, alcoholic
beverages, and tobacco—a proportion which was considerably above prewar years; they spent 9 cents on clothing and
shoes—below that in the earlier postwar years and in the
Table 3.—Personal Consumption Expenditures as a Percentage of
Disposable Personal Income
Personal disposable income- -_ . -
1 929
1941
1948
1952
1953
300.0
100.0
100
0
100.0
100. 0
1 00. 0
Total personal consumption expenditures
Durables.
_ _._ _ _
Nondurables.
Ser vices
95. 5
11.4
45 7
38 4
89.5
10.77
10
47
47.8
8
31
0
31.0
94. 4
12.1
53. 6
28.7
92.8
11.4
50. 6
30.9
92. 7
1 2. 2
48.9
31. 6
Total food, tobacco, clothing and shelter -.
Food (including alcoholic beverages and tobacco) ..
Clothing and shoes _ _ _
.
.. . .
Housing _
50 9
25.9
11.2
13. 8
49.1
49
1
28.8
9.66
9
10.8
10
8
53. 3
33.9
10.7
8. 7
52.1
33. 1
8.8
10. 2
50.8
32.0
8.3
10. 4
Autos and parts. _
_
Furniture and house furnishings
Other goods and services
3.9
5 6
35.3
3
3.6
6
55.22
31.5
4.0
6.1
31. 0
4.4
5.1
32.7
5.6
5.0
31.5
Source: U. S. Department of Commerce, Office of Business Economics.
20 -
1989
1941
1948
1953
OFFICE OF BUSINESS ECONOMICS. U. S. D. C.
prewar period; they spent 11.5 cents on housing, a larger
proportion than in 1948, but smaller than in the prewar
period. It is interesting to note that the proportion spent
on the combined categories of food, beverages and tobacco,
clothing, and shelter has been fairly stable in the past 25
years, exclusive of the war period—averaging around 55
cents out of each dollar spent.
fK^
must be used in selecting those years which are not dominated by special and temporary influences. Also, the results
have to be weighed with care.
The chart on page 9 shows the pattern of consumption
in relation to disposable personal income for the period
SURVEY OF CURRENT BUSINESS
8
1922-54. The upper section presents the pattern in current
dollars and the lower section in constant 1939 dollars. The
96 percent line shown in the upper section represents the
relation which prevailed in the earlier postwar years and
many of the prewar years. In 1929, for example, consumption was about 96 percent of income and for the years 194750, the average was also 96 percent. On the basis of this
constant percentage line it appears that the spending-income
ratio for the last 3 years was low, and if this prior ratio were
to be restored it would imply an increase in consumption
relative to income.
Personal Consumption Expenditures as a Percent
of Disposable Personal Income
PERCENT
120
100
80
20
1920
25
30
35
4*0
OFFICE OF BUSINESS ECONOMICS. U. S. D. C.
45
•
50
1954
54-13-6
The regression line shown in the upper section of the
chart relates consumption expenditures and disposable
income, derived from a calculation based
upon the prewar
years 1922-30, 1937, 1939 and 1940.2 This omits the low
cyclical years of the 1930's. This relationship implies that
as income increases there is a moderate tendency for the
spending-income ratio to decrease, although less rapidly than
that implied from a relationship derived from both prosperous
and depressed prewar years. On the basis of this regression,
consumption in the years 1947-50 was somewhat high; in
contrast, consumption in the period from 1951 to date has
been in line with this regression.
The general stability of spending in relation to income
need not contradict the notion that consumers can make
independent moves as they did in the immediate postwar
period and in the latter half of 1950 and early 1951 when
there were other factors which were temporarily more
dominating than income.
Among the several influences other than current income
which affect consumer spending, the following may be considered: (1) liquid asset holdings and (2) outstanding debt—
both short-term and long-term.
At the end of the war the combined asset-debt relationship
of consumers was uniquely favorable to high spending in
relation to current income. This situation gradually
changed in the intervening years to one more nearly equivalent to that prevailing in prosperous prewar years.
2. The regression shown in chart determined from the prewar years listed above is given by
personal consumption expenditures (in billions of dollars) = 3.3+0.92 disposable personal
income (in billions of dollars). This means, for example, that a change of $10 billion in disposable personal income in periods of relatively high business activity was associated with a
change of $9.2 billion in personal consumption expenditures.
April 1954
The liquid asset position of individuals remains relatively
favorable in comparison with high-employment prewar years.
Total liquid assets have continued to rise during the postwar
period, though they now represent a substantially lower proportion of current disposable income than in the immediate
postwar years. Periodic surveys have indicated that such
asset holdings are relatively widely distributed. Though
their special stimulating effect upon spending for consumer
goods was most important during the years when substantial
deficiencies in consumer stocks of durable goods were widespread, they still remain a relatively favorable influence
upon consumer spending.
Short-term debt of consumers rose substantially after the/
elimination of Regulation W in April 1952. In the latter
part of 1953 and early 1954 it leveled off. Currently the
volume of consumer credit outstanding is consistent with
Jong-term trends. The supply of credit and terms of financing are not limiting influences on consumer spending in the
aggregate.
Mortgage indebtedness on 1- to 4-family homes has also
advanced sharply in the postwar period with the high rate of
home construction. As indicated in a recent issue of the
SURVEY OF CURRENT BUSINESS, 3 the implication of the
present mortgage debt situation is on the whole not unfavorable for the maintenance of consumer spending.
In the household durable field, relatively new products
constitute a large and apparently growing proportion of
current demand. Furthermore, the prospect for the continued strong growth in new households with their traditionally large initial demands for household equipment is
an influence in sustaining such demand.
Nondurable purchases at high rate
The remainder of this discussion is concerned with the
movements of expenditures for specific major groups of
goods and services in relation to income.
The chart on page 10 shows that in the last 3 years consumer purchases of nondurable goods have been roughly in
line with the ratios of these purchases to disposable personal
income prevailing in the prewar years. In the earlier period,
they varied from a low of 46 percent to a high of 52 percent.
Also, there appears to be no systematic pattern in the ratios
as between the low and the high employment years. There
has been a gradual dowiidrift in the ratio since 1947, when it
was at a peak of 56 percent. In the quarters of 1952, the
ratio varied between 50 and 52 percent and in 1953 it has
varied between 48 and 50 percent. This is within the range
of the ratios which prevailed in a number of years in the
prewar period.
Food expenditures relatively high
The relation of food expenditures to income has shown a
marked upward shift as compared with the prewar pattern.
The chart on page 11 shows the relation between consumer
expenditures for food (excluding alcoholic beverages) and disposable personal income. In the prewar years most of the
years fall closely about the line representing 24 percent of such
expenditures to income, with small variations occurring around
this line. In contrast, the postwar years through 1952,
when, among other factors there was an abnormally large
movement of agricultural commodities into export, clustered
about the 27 percent line, with again some small variations.
In 1953 and early 1954 there was a moderate downdrift in
the ratio.
3. "Residential Construction Activity and Financing" by L. F. McHugh and Bernard
Beckler, SURVEY OF CURRENT BUSINESS, December 1953.
SURVEY OF CURRENT BUSINESS
April 10H4
Clothing buying relatively low
In. contrast to food expenditures, consumers did not increase their outlays for clothing and shoes in any consistent
relation to the substantial rise in income during the recent
post-war years. As the lower part of the chart indicates,
expenditures on clothing and shoes increased only 10 percent
from 1946 to 1953 compared with the rise of 56 percent in
disposable personal income.
9
These expenditures varied by relatively small amounts in
the intervening years. As a result, the ratio of expenditures
for clothing and shoes to income has fallen continually since
the early postwar period. The 1953 ratio of 8 percent was
lower than in any year in the past 25 years. Examination
of sales by kinds of apparel stores indicates that the expenditure-income ratios were relatively low for most types of
clothing, although buying of women's and children's clothing
have held up better than clothing for men.
Personal Consumption Expenditures Related to Disposable
Personal Income— Current and Constant (1953) Dollars
280
360
CO
cc
QUARTERLY TOTALS, SEASONALLY
A D J U S T E D , AT ANNUAL RATES
co
a:
240
320
o
a
o
a
NOTE.- REGRESSION LINE BASED UPON PREWAR
YEARS OF HIGH BUSINESS ACTIVITY
z
UJ
a:
:D
o 200
280
CO
\f)
z
o
o
u.
o
z
o
CO
CD
I
160
240 I
co
UJ
cc
ID
CO
UJ
CURRENT DOLLARS
UJ
CL
X
UJ
(LEFT
I 20
a:
SCALE)
200
160
80
o
o
o
CO
a:
LJ
a.
a
z
UJ
Q_
X
Ul
z
o
ID
CO
ID
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ID
CO
z
o
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CONSTANT DOLLARS
(RIGHT SCALE)
40
I 20
o
CO
a:
80
0
40
80
120
160
200
240
280
PERSONAL DISPOSABLE INCOME - BILLIONS OF CURRENT OR CONSTANT (1953) DOLLARS
OFFICE OF BUSINESS ECONOMICS, U. S. D. C.
293006°—54
2
54
SURVEY OF CURRENT BUSINESS
10
For the remaining nondurable goods categories, which include expenditures for drugs, gasoline and oil, fuel, magazines, newspapers, etc., a similar analysis indicates that the
combined expenditures for these groups has paralleled the
movement of disposable personal income both in the prewar
and postwar years.
what exaggerated degree. These tendencies are shown in
the chart by the drifts along the scale of the percentage lines
for the prewar years of rising and falling incomes.
These adjustments appear to be derived in part from the
long life of the goods, and the flexibility of replacement, and
in part from the use of credit as an important element in
financing purchases. Consumers are more willing to increase instalment debt when income is rising, and are more
reluctant to incur increased indebtedness when income declines and prospects appear less favorable. Analyses of
various types of consumer durables suggest that these influences are especially pronounced in the case of automobiles
In the period before World War II, fluctuations in the
purchase of automobiles were much greater than changes in
purchases of other consumer durables. Consumers spent
t\\ice as high a proportion of disposable income for automobiles and parts in 1929 as in the depth of the depression in
1932, whereas the proportion spent for furniture and home
furnishings was one-third higher. Automobile purchases
were likewise more volatile during the recovery period of the
thirties and the recession after 1937.
Buying of durable goods
Throughout the postwar period consumers have spent a
relatively high proportion of their income for durable goods.
In the first few years after the \var this represented a filling
<•:
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I Personal Consumption Expenditures for Nondurable
| Goods Related to Disposable Personal Income
*
1
140
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120
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Personal Consumption Expenditures for Durable
i?
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Goods Related to Disposable Personal Income
;
/
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QUARTERLY TOTALS, SEASONALLY
ADJUSTED, AT A N N U A L R A T E S
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! 3 100
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1
Q U A R T E R L Y T O T A L S , SEASON A L L Y
A D v l U S T E O , AT A N N U A L R A T E S
/
I
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20
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OFFICE OF BUSINESS ECONOMICS. U. S. D. C.
t
i
50
100
!50
200
250
DISPOSABLE PERSONAL INCOME-BILLIONS OF DOLLARS
300
J
54-13-8
i
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of war-accumulated deficiencies in addition to current large
requirements for replacement and growth. In recent years,
spending for such goods has continued to represent a larger
proportion of disposable income than in most of the prosperous prewar years. Beginning in the third quarter of
1953 and continuing through the first quarter of 1954, the
proportion spent for durable goods eased downward, approaching the proportion spent in 1929 but remaining higher
than in any of the subsequent prewar years. Appraisal of
the current rate of buying is assisted by an examination of
the historical pattern of such purchases in relation to disposable income.
Nature of demand
Durable goods expenditures are much more sensitive than
other consumer expenditures to changes in income. Furthermore, the influence is felt more promptly, often in a some
50
100
150
200
250
300
DISPOSABLE PERSONAL INCOME - BILLIONS OF DOLLARS
OFFICE OF BUSINESS ECONOMICS, U. S. D. C.
In 1953, consumers spent $13.6 billion for autos and parts,
nearly half of all consumer durable goods purchased during
that year. This was substantially more than in any preceding year, representing 5.6 percent of disposable income.
Purchases declined in the latter part of 1953 and early 1954.
In the first quarter of 1954 they were 10 to 12 percent below
the unusually favorable sales of a year earlier.
For the prewar period, changes in purchases of new automobiles can b.v largely explained in terms of the following
major factors: (1) real disposable income per household of
both current and the preceding year; (2) automobile prices
SURVEY OF CURRENT BUSINESS
11
Personal Consumption Expenditures for Food (excluding alcoholic beverages)
and Clothing and Shoes Related to Disposable Personal Income
70
" QUARTERLY TOTALS, SEASONALLY
A D J U S T E D , A T ANNUAL RATES
60
a:
<t
o
0
50
UL
O
CO
2
o
m
en
UJ
or
ID
h-
40
FOOD
(EXCLUDING ALCOHOLIC BEVERAGES)
Q
-z.
UJ
a.
x
UJ
30
.
O
o
-J 20
O
cn
CLOTHING AND SHOES
10
!
40
80
120
160
200
DISPOSABLE PERSONAL INCOME - BILLIONS OF DOLLARS
OFFICE OF BUSINESS ECONOMICS, U. S. D. C.
^'^^?»^-2M^£:^
240
280
12
SURVEY OF CURRENT BUSINESS
in relation to consumer prices; and (3) scrappage age of
automobiles.
There is a large potential market for automobiles. Income
is the most important factor and a continued high level of
income assures a sizable volume of car sales. In addition,
the influence of changes in auto prices is also important.
Since sales of automobiles have been high in the past several
years, the age-distribution of cars on the road has shifted
toward more younger cars and fewer older models. But
there are still about 10 million prewar cars in use, the
youngest of which are now over 12 years of age. This provides the basis for a large potential replacement market.
Stable purchases of furniture
Consumer buying of furniture and house furnishings has
totaled about $12 billion in each of the past 3 years, tending
to drop a little in relation to disposable personal income.
Currently, the ratio of these expenditures to income of about
5 percent is considerably below that of the immediate postwar years 1947-49, when consumers were filling backlogs of
many of the items in this group. In the buying waves of the
third quarter of 1950 and the first quarter of 1951, these
expenditures were up sharply relative to income and the
lower ratios since then have in part reflected some reaction
to the stocking up of these goods at that time as well as iD
the prior postwar years.
The current ratio to income is about in line with those prevailing in the years of the late thirties, but below 1929 and
1941. Purchases of these goods in the prewar years showed
moderately greater fluctuations than disposable income.
In the first quarter of 1954 major appliances and TV purchases were about even with a year earlier, and slightly
higher than in the latter part of 1953 on a seasonally adjusted basis. For some of the products in this group, however, short-term fluctuations were great enough so that producers were not able to fit their production schedule to
demand. This has brought erratic inventory movements
in relation to sales. Production was at a high rate early in
1953, and there was considerable stock accumulation for a
number of the principal products in this group. This was
followed by a substantial and general cutback in production.
Though complete details are not available by products, in
some instances stocks have been pared sharply.
This has been notable in the case of television, where
stocks had risen and sales had slackened in late 1953. Production was cut back sharply toward the end of 1953 and remained low in early 1954. Retail sales were stimulated in
the first quarter of 1954, partly by aggressive merchandising
including substantial price reductions. The bulge in television inventories of last year has been trimmed away. Such
adjustment has not been general throughout the appliance
field, though stocks had not risen so much in other lines and
hence there was less incentive for severe curtailment.
Furniture buying eased off moderately in the latter part
of 1953 but was steady in early 1954, at about the level of a
year earlier.
Services rise relative to income
Consumer expenditures for services in the first quarter of
1954 represented nearly one-third of disposable personal
income. In the past 3 years such expenditures have tended
to rise gradually relative to income with all major groups of
services participating in the advance. The ratios to disposable income of recent years, however, were still below
those of most of the interwar years.
April 1954
Expenditures for services are generally not so sensitive to
income changes as are many of the categories of goods
purchases. In periods of rapidly rising income, the ratio of
services expenditures to income tends to drift downward, in
contrast to durable goods for which the ratio tends to rise.
Part of this lag is due to the fact that expenditures for
services are influenced not only by the income of the current
year, but also by incomes of preceding periods. Many
groups of services such as private education, household
utilities, and certain types of purchased transportation, are
quite sluggish in their response to income changes and it is
only after a sustained income decline that expenditures for
these groups are appreciably curtailed. Also, the long-run
secular uptrend contributes to the relative stability of many
of the services.
It is convenient to consider expenditures for services in
two categories, namely, expenditures on housing and on all
other types of services. In 1953 expenditures for housing
comprised one-third of the total service expenditures, and
the remaining two-thirds represented a heterogeneous group
of items in which household operation was the largest
component.
Because of the diverse character of the services other than
housing, there is a variety of patterns of sensitivity to changes
in income among the individual items. As a group, however,
such expenditures in the postwar period have followed a close
relation to changes in disposable income—a relation which is
consistent with that indicated in the prewar period. Such
expenditures, however, are strongly influenced by the level
of income of the preceding year as well as that of the current
year. Thus, a closer relationship is obtained if the average
of the current year and preceding year incomes is used instead
of just the current year. Because of this lag, this group of
expenditures would tend to hold up even in the face of
moderate declines in total economic activity. In the moderate business decline of 1948-49, for example, expenditures
for these services actually increased.
Expenditures on housing have been about 10 percent of disposable income in each of the years since 1949. This ratio
is considerably below that which prevailed in the prewar
years.
The lower ratio of recent years has been due in large part
to the fact that rents usually lag in periods of price change,
and this has been true in recent periods of rent controls.
Summary
1. Total consumer expenditures have been relatively
stable during the past 6 months. However, the pronounced
decline in durable goods purchases, though largely offset by a
rise in services, has been one of the influences lowering
employment and production.
2. Consumption tends to accompany movements in disposable personal income, except in a few periods when other
factors were more dominant. Consumers shift their purchases from time to time, however, among the various categories of goods and services as changes in liquidity and in
their holdings of goods together with gradually changing
habits, result in a reapportionment of their spending budgets.
3. Per capita consumer expenditures in real terms have
been at a high rate in recent years, so that the consumer
fared well despite the diversion of resources to military needs.
However, the proportion of the nation's output going into
personal consumption has dropped since 1950, because of the
much larger proportion of resources going for defense.
by Loughlin F. McHugh
Financing Corporate Business
represented almost 60 percent of the physical volume of the
J_ OTAL corporate uses of funds last year amounted to approperties in existence at the end of the war. Considering
proximately $30 billion, about the same as in 1952. For the
the expansion on a net basis—that is after allowance for
year 1953 as a whole, both fixed capital investment and inreplacement of facilities which reached the end of their useventory requirements were higher than in 1952, the later
demand being confined to the first three quarters of the year.
Inventories were lowered in the latter part of 1953 and this
liquidation was carried over to the early months of this year.
Corporations increased their liquid asset holdings by $2
Corporate Liquidity
billion in 1953, a larger addition than occurred in 1952.
Liquid assets in 1953 were higher than
Most of last year's gain was in U. S. Government securities,
although some further additions were made to bank deposits.
prewar as a proportion of current liabilities,
Offsetting the higher requirements in 1953 than in 1952 for
and about the same relative to sales
fixed assets, inventories, and cash was the change in customer
financing needs. In 1952, corporate receivables increased $6
PERCENT
billion—continuing the rapid rise which had begun in 1950.
120
Receivables were unchanged in 1953, the higher consumer
debt to corporations being offset by reductions in other
accounts.
LIQUID ASSETS
TO CURRENT
LIABILITIES
Higher outlays for fixed assets
Corporate expenditures on plant and equipment in 1953
amounted to $24 billion, or about four-fifths of total requirements (table 1). This was $1^> billion, or 7 percent, more
than was spent by corporations for facilities expansion in
1952.
Plant and equipment outlays are scheduled at high rates
through 1954, the annual plant and equipment survey showing a total about 4 percent below a year ago and higher than
in 1952.1 Outlays are being reduced in some corporate
sectors, notably in manufacturing and railroading. On the
other hand, public utility and communication corporations
plan to maintain their high outlays for production facilities.
Postwar asset expansion program
Table 2 shows the value of major asset and liability
items in the balance sheet of corporations as of the end of
1945, and the cumulative sources and uses of corporate funds
since that time. These figures are indicative of the huge
postwar capital expansion programs of corporate business.
In interpreting the data, however, a few special considerations should be noted.
The 1945 book value of fixed capital was lower than the
replacement cost of the facilities then in use, largely because
of the lower prices typically prevailing when the facilities
were acquired. The gross additions to plant and equipment
in the postwar period were, moreover, made at prices substantially above those prevailing in 1945.
Rough allowance for these factors suggests that the "real"
fixed asset purchases by corporations in the postwar period
1. "Investment Programs and Sales Expectations in 1954." SURVEY OF CURRENT BUSINESS,
March 1954.
NOTE.—MR. McHUGH IS A MEMBER OF THE BUSINESS STRUCTURE
DIVISION, OFFICE OF BUSINESS ECONOMICS.
80
40
LIQUID ASSETS
/• TO SALES
..
D--0-..0-"
I
1939
I
41
I
I
43
I
I
I
45
I
47
I
I
49
I
51
I
I
53
DATA: O.B.E. 8 S.E.C.
* CASH, DEPOSITS, AND U . S . G O V T . SECURITIES
OFFICE OF BUSINESS ECONOMICS, U. S. D. C.
ful life during the postwar period—corporate fixed facilities
were increased in the neighborhood of two-fifths over the
postwar period.
The "real" increase in inventories—the only current asset
item for which such computations can be made with a fair
degree of accuracy—was in the neighborhood of 60 percent.
While both fixed and working capital of corporations underwent rapid postwar expansion, components of the current
asset group rose at strikingly different rates. The book
values of inventories and receivables were each increased
by more than one and two-thirds. Liquid assets—cash and
U. S. Government security holdings—rose by less than
one-fourth.
13
SURVEY OF CURRENT BUSINESS
14
These differential relative changes are, of course, explainable in the light of wartime conditions. Inventory and
customer credit expansion was greatly restricted during the
war years as a result of direct governmental restrictions,
lowered credit needs of both business and consumers in the
environment of a sharply reduced supply of durable* goods,
Corporate Securities —
Issues and Retirements
BILLIONS OF DOLLARS
i5
I0
NEW ISSUES
(EXCL. REFUNDING)
RETIREMENTS
'*
I0
April 10r>4
approximately 52 percent of current liabilities. While this
proportion has declined each year since 1945, with the exception of 1949, the 1953 ratio was still well above the
average ratio of approximately 45 percent in the 1939-41
period.
The volume of liquid asset requirements is also related to
the level of activity, since as payrolls and materials purchases change, the volume of cash needed to meet current outlays changes in the same direction—although not necessarily
to the same relative degree. The lower line in the chart
showing the relation of liquid assets to corporate sales is
indicative of the relative sufficiency of "cash" assets fo? 1
such transactions purposes. This ratio, too, is down from tL,
wartime peak, but still as high as prewar at the end of
1953.
While the overall liquidity picture is relatively favorable,
there may be, and probably are. substantial variations among
different parts of the business community. A recent SURVEY
analysis of changes in long-term liquidity between the late
twenties and early fifties pointed out that relatively stable
overall trends in liquidity were in part the result of declines
in liquidity by corporations which were highly liquid in the
earlier period and offsetting increases in liquidity of other
groups which were relatively less liquid in the earlier period. 2
It was felt at that time that, by and large, data for most of
the corporations studied indicated generally adequate liquidity. Corporations are now closer to the point of balance
between liquid asset ownership and requirements than they
have been in the last 15 years, but liquidity conditions prevailing at the end of 1953 were not generally a determining
independent influence on corporate activity.
Financing of Requirements
NEW ISSUES
LESS RETIREMENTS
-5
I
1939
I
1
41
I
I
43
1
I
45
I
47
I
I
49
51
53
DATA: S. E.G.
OFFICE OF BUSINESS ECONOMICS. U. S. D. C.
54-13-13
and by Government financing of war business. These conditions gave rise to an unusually large accumulation of liquid
resources by corporations, and during the postwar period
these assets were an important supplement to internally
generated funds in enabling corporations to replenish
inventories, expand customer credit and finance capital
expansion programs without impairment of their fiscal
position.
Current liquidity position favorable
Although "cash" assets have undergone a much smaller
postwar net expansion than other assets, the current position
of corporations appears to be relatively favorable by any past
standards. Cash and U. S. Government security holdings of
corporations as a whole at the end of 1953 were equal to
Funds for corporate capital programs in recent years hav^
been derived from both operations and outside capital
sources (table 1). Retained earnings last year amounted to
$10 billion, approximately $1 billion more than in 1952.
The proportion of earnings paid out in dividends has remained low throughout the postwar period in comparison
with prewar practice. The average for the 1946-53 period
was 42 percent. This compares with proportions of 60 percent in the 1939-41 period and almost 70 percent in 1929.
Depreciation charges in 1953 for replacement of fixed
capital consumed in current production amounted to $12
billion. With continuing expansion of new plant, this was
almost $2 billion more than in the preceding year. These
two sources—retained earnings and depreciation—-were
equivalent to two-thirds of the total funds utilized in the
last 2 years, a slightly larger proportion than in the preceding
years of the postwar period.
The recent financing done through gross corporate savings
did not differ greatly from that of the immediate prewar
period. The proportion of internal funds was somewhat
larger than the 1952-53 experience in 1939, about the same
in 1940 and smaller in 1941. In 1941, the economy was
rapidly adjusting to defense requirements, working capita
needs were rising and there was, in consequence, an expanded
need for short-term funds. During the defense buildup in
1950 and 1951, the ratio of internal funds to the total was
also relatively low.
Although plant and equipment outlays declined during
the mild recession of 1949, the major adjustments in capital
demand and supply in that period were related to shortterm working capital. There was practically no increase in
total current assets over the course of that }Tear as corporations increased their liquid asset holdings in the process of
2. "Financial Experience of Large and Medium Size Manufacturing Firms, 1927-1951,"
S U R V E Y , November 1952.
SURVEY OF CURRENT BUSINESS
reducing inventories. Current liabilities were cut back
sharply in 1949 as bank loans were repaid and Federal tax
liabilities declined. These current liability changes were
offset by continuing expansion of external long-term financing
so that the net demand for capital funds in that year was
about equal to the total available from internal sources.
Corporate sales and retained profits in 1953 tended upward
through midsummer in response to rising activity. Thereafter, as sales eased, undistributed profits declined more
sharply than earnings as dividends were maintained. By
year-end the reduction in profits lowered substantially the
availability of funds from this source. The elimination of
the excess profits tax on January 1 bolstered after-tax
profits but retention of earnings so far this year has provided
a smaller flow of funds for financing than a year ago.
Table 1.—Sources and Uses of Corporate Funds, 1946-53l
[Billions of dollars]
To tcil uses
Pl;ii it iind eQuipment
Increase in other assets-total
Inventories
\lanufacturing
Refill
Wholesale
- Other
- Receivables
Consumer
IT S Government
Other
.-
-
1946
1947
1948
1919
1950
1951
1952
1953 2
23.2
32.7
28.3
16. 5
45.6
40. 7
31.0
30. 5
12. 5
10.7
11.2
6. 2
9 3
2.0
17.0
15.7
7. 1
4.3
19
.9
18 8 16. 3
9.5
4.2 -3! 6
2.7 —2. 6
2
. 5 -.4
.3 -.4
17.0
28. 6
9.9
5.3
2 0
2.0
.6
21.7
19. 0
10.2
8.6
22.4
8.6
1.6
1.4
2
2
24. 0
6. 5
3. 5
2.5
.5
.3
2
.6
1.4
.2
2 6 —1 0
13.8
1.6
.2
12 0
5.2
.5
1.6
3.1
6.0
1.8
(3)
1.5
(4)
-1.5
3.2
1.2
2.0
4.5
1.6
2.9
3.0
2.2
.8
.3
(3)
.4
.6
.7
4.8
1.1
- .. -2.0
Cash, deposits, and U. S. Govern—4.7
ment securities
Cash and deposits
1.1
U. S. Government securities. .- -5.8
7.6
1.5
6.3
1.0
-11
4.1
1.3
1.0
.3
.5
.6
4. 1
zation allowances were charged on facilities compared with
one-half billion dollars in 1952. Under present completion
schedules, amortization allowances will exceed $2 billion in
1954 and, under a $30 billion certificate program, may
grow to a rate of $3% billion in late 1955.
New issues market
Sale of new securities in the long-term capital markets
continued to be an important source of financing in 1953,
with the net inflow of funds amounting to $7.6 billion (see
chart on p. 14) This was about $300 million less than was
raised through security sales in 1952—the record year for
such financing—but it was larger by far than any other
year. Some reduction in net new issues occurred in the
first quarter of 1954.
Bond issues continue to be the predominant method of
external financing, with the net inflow of funds in 1953
constituting a new record of $5.2 billion. Actual sales of
bonds and other long-term debt instruments were somewhat
lower than in 1952 but retirements of outstanding issues
were down by a greater amount.
Stock issues were less in amount than in 1951 or 1952, but
new equity funds still remained substantially higher than
in any earlier postwar year and at least equal to any pre\var
period. In the "bull" market of the twenties, total stock
sales were much higher on a gross basis, but a substantial
Table 2.—Postwar Corporate Investment and Its Financing 1
[Billions of dollars]
Book value
outstanding
end of 1945
2.0
.5
1.5
1
-.6
(3)
22 3
33.0
29.4
15.8
44. 5
41. 0
31.7
31.4
Retained profits ^
D e pre chit ion
Net new issues — total
Stocks
Bonds
7.6
4.2
2.4
1.3
1.1
11.6
5 3
C4
1.4
3.0
12.8
6.3
5.9
1.2
4.7
8.0
13.0
10.2
8. 7
6.3
9.8
11.8
7. 6
2.4
5 2
Increase in other liabilities
A'lorto'age loans
Bank loans
Short
Long
8.1
.6
3 2
2 2
1.0
11.7
Trade payables
U. S. Government
Other
3 7
Other assets
15
Uses ar;d
sources of
funds
1.0
138
Total sources
Federal income tax liabilities
Other liabilities-..
Discrepancy (uses less sources)-.
11
-1.6
2. 2
.9
2 6
1 4
1.2
(3)
"
2.3
1.5
2.0
3' 6
8.8
10.0
7.9
3.0
4.9
19.9
9
1 5
2 1
15. 8
.8
4.4
3.9
.5
5.0
.8
2.4
1.7
.7
(t)'
(t)
8.8
.3
8.5
4.2
.9
3.3
3.6
.9
2. 7
-1.0
(t)
(t)
L5
5.1 -3.1
1.3
1.3
2 2
.6
1:1 1:1
1:1
4.4 -4.3
1.2 — 2 . 9
— 1. 2
1 3
(3)
1.3
(3)
.8 -2.3
.5
.4
-1. 1
1.1
-.3
."
.
Q
1. Excluding banks and insurance companies. Data have been revised to Internal
Revenue Service statistics for the years 1946 through 1950.
2. Preliminary, and based on incomplete data.
3. Less than 50 million dollars.
1. Included in other receivables.
r>. Including depletion.
fXot available.
Source: U. S. Department of Commerce based on Securities and Exchange Commission
and other financial data.
On the other hand, depreciation charges on a continually
expanding asset base are larger. This is due in part also
to the influence of accelerated tax-amortization of defense
facilities.
Under present legislation, new fixed capital programs considered necessary for national defense are eligible to be
written off at an accelerated rate. Currently $30 billion of
certificates of necessity have been issued; and of this total
approximately $18 billion may, as projects are completed,
be written off in a 5-year period rather than over a longer
period as required under normal tax provisions. It is
estimated that in 1953, roughly $1 billion of rapid amorti
95
26
26
43
44
42
10
Liabilities
Long-term liabilities and capital
Capital stock and capital reserves_
Depreciation reserves
Long-term debt
Selected short-term liabilities
Payables (supplier)
Bank loans
Federal tax liabilities
237
140
55
42
j
|
i
{
35
20
5
10
44
23
10
11
1. Excluding banks and insurance companies.
2. Exclusive of land and before depreciation.
3. Cash, deposits and U. S. Government securities.
Source: U. S. Department of Commerce, Office of Business Economics and Securities and
Exchange Commission.
portion of such sales involved changes in existing forms of
equity securities rather than raising of net new funds.
Bank loan expansion halted
From 1949 through mid-1953, bank credit was an important source of corporate financing. Peak borrowing occurred
in the 18 months following the outbreak of Korean hostilities
when corporations added to their bank debt at an annual
rate of $4 billion. This expansion was moderated in 1952
and in early 1953 and, on a seasonally adjusted basis, rose
at a rate of about $2 billion a year during the period. The
rise was finally halted in the summer of 1953. There was
an absence of the normal seasonal pickup in bank borrowing
last fall and winter and at the end of the year corporate loan
balances at commercial banks were lower than a year
earlier. The seasonally adjusted decline in bank loans
that set in late in 1953 continued in the first quarter of 1954.
SURVEY OF CURRENT BUSINESS
16
Federal tax accruals and payments
Financing of short-term corporate capital requirements in
the postwar period has been significantly affected by the
changes in Federal profits taxes accrued and paid by corporations. With tax rates unchanged from 1952 to 1953 and
profits higher, in the latter year tax accruals exceeded payments by $2 billion, thus providing a temporary source of
financing to corporate business. In 1952, in contrast, tax
payments exceeded accruals by about $3 billion, and hence
the excess had to be paid from other sources of funds.
While such variations can thus be sharp from one year to
the next, over the longer term this liability account does not
bulk so large in the total picture. Over the whole postwar
period, the net increase in corporate tax liabilities to the
Federal government amounted to about $11 billion, or about
4 percent of the total financing requirements.
Table 3.—Net New Security Issues, by Industry
[Millions of dollars]
1948
1949
1950
1951
1952
5,886
4,654
1,232
4,856
3,284
1,572
3,724
2,004
1,720
6,277
3,577
2,700
7,927
4,940
2,987
7,561
5,186
2,375
_ _
1,863
1,518
345
810
676
134
193
96
97
2,344
1,696
648
3,167
2,641
525
1,632
1, 550
82
_
1, 857
1,555
302
1,818
1,063
754
1,728
1,029
699
2,152
1,398
754
2,328
1,483
845
2,737
1,661
1,076
275
287
-12
178
178
0
156
156
0
—75
—85
11
-13
2
-15
-38
33
-4
78
76
2
255
260
—5
146
146
o
61
75
-14
324
282
42
90
98
—8
1,036
678
358
843
493
350
421
-33
454
778
112
666
964
147
817
1,010
424
586
Total new issues
Bonds and notes
Stocks
Manufacturing — total
Bonds and notes
Stocks
Electric, gas and water— total
Bonds and notes
StocksRailroad— total
Bonds and notes
Stocks
Other transportation— total-Bonds and notes
Stocks
Communication— total
Bonds and notes
Stocks-
_
_. _ _
1953
Financial and real estate— total
Bonds and notes
Stocks
542
311
231
789
429
360
806
375
431
747
154
593
902
235
667
1 825
1 226
599
Commercial and miscellaneous— total
Bonds and notes __
__
Stocks
236
230
6
163
186
—23
276
235
41
269
227
42
255
150
105
303
259
44
Source: Securities and Exchange Commission.
Federal taxes being currently accrued are down significantly from the 1953 average, reflecting in part lower corporate profits and in part the elimination of the excess
profits tax at the end of 1953. With corporations required
to pay approximately 90 percent of the higher tax liabilities
accrued in 1953 in the first half of the current tax year,
payments are at present greatly in excess of taxes being
currently accrued, a factor which may involve temporary
financial problems for some firms.
Industry
differences
There were noteworthy differences among the major industries in the amount and composition of demand for
capital funds. As in other years, manufacturing corporations predominated, with total requirements of approximately $15 billion or about half of the total for all corporations. These concerns also contributed a major share of
the increased fixed asset and inventory demand from 1952
to 1953. Manufacturers accounted for about one-third of
the $1% billion increase in capital outlays, and for almost
three-fourths of the increased holding of corporate inventories
from 1952 to 1953.
April
Public utilities increased their fixed capital outlays by
$600 million or 15 percent from 1952 to 1953—the largest
relative and absolute amount of any major sector of corporate business. 1953 capital expenditures by the railroads,
on the other hand, were little changed from 1952. The
rails expect to sizably reduce their capital expenditures in
1954.
As has been generally the case in recent years, railroads
relied most heavily on funds from operations. These accounted for 80 percent of their funds used, compared with a
proportion of two-thirds for manufacturing and for all
corporations. The utilities and communication groups, on
the other hand, drew as usual upon external funds, as gros
savings in the form of retained profits and depreciation
accounted for less than one-third of their requirements.
As indicated, bank borrowing was of lessened importance
in financing new capital requirements in 1953. Bank credit
to manufacturers was actually lower at the end of 1953
than a year earlier. Utilities continued to add to their
outstanding bank debt but at a reduced rate from 1952, and
changes among other groups were relatively small. Bank
loans were reduced at an increasing rate in the opening
months of 1954 with loan liquidation programs fairly widespread throughout industry.
Large utility flotations
Table 3 presents information on the industrial composition
and type of financing in long-term capital markets since 1948.
The electric and gas utilities were the largest users of such
Table 4.—Corporate Bond and Stock Yields 1
[Percent per annum]
Common stock
Bond yields
Dividend yields
Average for period
1924-26
1929
1940-41
1948
1950 1951
1952
1953
- -
1953' I
II _
III
IV
_ .._ -
-
__
1954: I (estimated)... .
i
Earnings— price ratio
Industrial
Public
utilities
Railroads
Industrial
Public
utilities
Railroads
Industrial
Public
utilities
5.6
5.3
3.0
2.9
5.3
5.1
3.2
3.0
5.5
5.2
4.1
3.3
5.3
3.8
5.8
5.9
5.8
2.1
7.0
5.8
5.9
4.4
5.9
6.0
9.8
6.1
9.2
14.8
8.7
3.8
7.9
8.1
11.6
8.5
17.5
18.1
2.7
2.9
3.0
3.3
2.8
3.1
3.2
3.4
3.1
3.3
3.4
3.6
6.5
6.3
5.6
5.5
5.7
5.8
5.4
5.3
6.5
6.3
5.9
6.5
14.6
10.4
9.5
10.1
8.4
7.5
7.4
7. 4
21.9
16.4
16. 6
17.0
31
3.4
3.4
3.3
3.3
3.5
3.6
3.4
3.4
3.6
3.6
3.5
5.3
5.6
5.7
5.6
5.1
5.4
5.5
5.3
5.8
6.2
6.8
7.1
9.2
10.3
10.6
10.6
7.1
7.6
13.2
17.1
18.7
19.5
3.1
3.2
3.4
5.2
5.1
6.9
(1)
7.1
(t)
Railroads
(t)
1. Moody's series.
t Not available.
Source: Moody's Investors Service except 5or cpmon stock data prior to 1929 which were
extrapolated on the basis of the earnings-price ratio and dividend yield seriesshown in Common Stock Indexes, Cowles Commission Monograph No. 3.
funds in 1953, and the $2.7 billion of money raised by their
through net sales of stocks and bonds accounted for over
one-third of total net new issues. This was one-sixth more
than net flotations in 1952. In contrast, manufacturers
cut their net proceeds from security issues almost in half
from the record rate of the preceding year.
The largest relative expansion in funds was the $1.8 billion
raised in the new issues markets in 1953 by the financial and
real estate groups. This was double the volume of such
financing in 1952 and the increase was entirely confined to
(Continued on page 22)
fry E. S. Kerber
Foreign Grants and Credits of the
United States Government in 1953
I
XCREASED transfers of military supplies and services
brought net deliveries on grants and credits by the United
States Government to foreign countries to $6.4 billion during
1953. This was higher than in any earlier postwar year, but
the trend in the second half was downward. The shipments
and cash disbursements during the first half of the year thus
reflected the large appropriations of prior years and reduced
the amount of appropriated but not yet utilized funds. During the second half of the year, net grants and credits had
dropped to an annual rate of $5.4 billion, approximately the
rate set by the appropriation for the current fiscal year.
Military supplies and services were also the major factorin the decline from the first to the second half of the year.
In the latter period military deliveries were at an annual rate
equivalent to the $3.2 billion in mutual security military
grants appropriations by the Congress for fiscal year 1954.
Military supplies and services transferred to foreign countries in 1953 amounted to $4.4 billion as against $2.7 billion
in the preceding year.
On the other hand, net grant and credit transfers of other
than military supplies and services dropped to $2.0 billion
in 1953-—-approximately the rate authorized by Congress for
the current fiscal year—from $2.4 billion in" 1952. These
"iionmilitary" grants and credits include all assistance not
provided as military end-items, military training and similar
services, or contributions to the multilateral-construction
program of the North Atlantic Treaty Organization.
Most military grants in 1953 were provided under the
mutual security program. By the end of the year about
half of the total $19 billion authorized for military grants
under this program had been furnished to foreign countries.
Ordnance leads in military equipment
Nearly 31,000 tanks and combat vehicles have been provided foreign countries under the mutual defense assistance
program. These combat vehicles with their components
and spares represent the largest category of military aid,
totaling over $2 billion. More than 175,000 other motor
transport vehicles delivered in the 4 years the program has
been building up represent an additional $800 million.
One-third of the vehicles were transferred abroad in 1953.
Other ordnance equipment—mainly guns and ammunition—is another major category, also exceeding one-fifth
of the total military grants through 1953. Shipments of
small arms and machine guns declined in 1953; of the 2
million units shipped in the 4 years, about one-sixth were
delivered last year. Ammunition continued to be provided
in large amounts, for over one-half of the cumulative 1
billion rounds of small arm ammunition and two-thirds of
the cumulative 35 million rounds of artillery ammunition
were shipped in 1953.
NOTE.—MR. K E R B E R IS A MEMBER OF THE BALANCE OF PAYMENTS
DIVISION, OFFICE OF BUSINESS ECONOMICS.
293000°—54
3
Aircraft valued at $1K billions, representing 5,340 units
with attendant supplies, have been provided under the program. Of this total 2,408 units were sent in 1953.
Vessels transferred and lent as aid
Vessel transfers by December 1953 numbered 601 with
a value of half a billion dollars. About half of this value
represents charges against the legislative authority for the
use of excess stocks and not new expenditures of appropriated funds. Many of the vessels transferred from excess
stocks as mutual security grants were in the custody of the
foreign governments under the lend-lease program and were
simultaneously returned as lend-lease, as required by law,
and re transferred. The net military aid shown in table 1 is
adjusted for these duplications in lend-lease and mutual
security program transfers. Vessels transferred under the
mutual security program in 1953 numbered 159.
Other military grants in 1953 included the transfers of
vessels to Japan ($127 million), France ($25 million), and
the Netherlands ($21 million) outside of the mutual security
program. These were made under specific authorization acts
of the Eighty-second and Eighty-third Congresses which allowed the transfers with expectation of return of the vessel
at some future time.
Training included in services
Services arid ocean freight aggregate about one-half billion
dollars in the $9 billion military aid furnished from 1950
through last year. These services include administrative
costs of the program as well as formal training courses for
foreign nationals and the cost of Armed Forces mobile
training teams and civilian technical representatives. In
1953, over 11,400 foreigners completed formal training
courses, bringing the total to 33,000 since the beginning of
the program; 6,400 persons were in training at the end of
the year.
Multilateral-construction program payments
Over $90 million of the total annual grant to Europe
represented dollars contributed to the common-use construction program of the North Atlantic Treaty Organization.
Through December 1953 the United States Government had
paid $164 million of the agreed contribution of $600 million.
The United States Government is to pay about 40 percent
of the total cost of basic military installations which are
financed jointly by the NATO nations and arc available for
the use of forces under NATO command. (In the balance
of payments computations, these disbursements are combined with other military construction and included in
United States Government service expenditures.)
17
18
SURVEY OF CURRENT BUSINESS
Most of military supplies to Europe
Military supplies and services provided to Western European countries participating in the North Atlantic Treaty
Organization comprised more than four-fifths of the military
assistance program.
Transfers under title III of the Mutual Security Act,
covering Asia and the Pacific, rose proportionately more than
the total from 1952 to 1953. The relative rise in military aid
to this area took place during the first half of the year.
During the second half, transfers to the Far East fell off
relatively more than total transfers. .
Offshore procurement
The transfers of military goods and services during 1953
include approximately $300 million of goods purchased
abroad under "offshore procurement" contracts. During
1952 the value of such transfers amounted to about $75
million. The offshore procurement program is helping to
expand the mobilization base in North Atlantic Treaty
Organization countries. Strategic considerations as well as
competitive bidding within the area determine the country in
which these contracts are placed. Military equipment
produced abroad may be transferred to third countries or
used in the countries of production.
About half of the $2.2 billion of contracts placed through
1953 were open to competitive bidding among the foreign
countries. The other half—primarily for aircraft and vessels, and the procurement guaranteed the French in financial
support of the costs of their military operations in Indochina—were negotiated in the countries where it was desired
to effect the procurement. Although Americans were not
eligible to bid on offshore procurement contracts, all prices
to be paid were restricted, with small exceptions, to a maximum of 110 percent of the price for the equivalent item in
the United States. The 10-percent excess approximately
equals the freight charges which would have to be paid on
goods procured in the United States. Of the total purchases
of $375 million under the offshore procurement program,
France accounted for about $225 million.
New contracts in 1953—all placed during the first half of
the year—amounted to $1% billion. One-half of these (by
value) were placed in France. Total contracts outstanding at
the end of the year were approximately $1.9 billion, or about
one-fifth of the $10-billion backlog of undelivered but programed military aid. Deliveries against the foreign contracts expected in 1954 and 1955 will thus add substantially
to the transfers from domestic production under the militaryaid program.
Canada is not included within the offshore procurement
program, and therefore not in these figures, although extensive purchases are made in that country.
Nonmilitary aid to many countries terminated
The contraction of net nonmilitary grants and credits
reflected a general decrease in grants as well as in credits.
The program and country composition of these grants and
credits has, however, undergone some changes. With the
improvement of their economic position, new aid to several
European countries was terminated in 1953. These included Austria, Denmark, Iceland, the Netherlands, and
Norway. Aid to Germany was primarily economic support
needed by Western Berlin. The small transfers to these
countries during 1953 represent mainly deliveries on authorizations made before the aid programs were ended. Aid had
earlier been terminated for Belgium, Ireland, Luxembourg,
Portugal, Sweden, and Japan.
April 1954
With the exception of France and of Yugoslavia—which
received greater deliveries under nonmilitary grant aid in
1953 than in the previous year—-assistance shifted from
Europe to Asia. Omitting Japan, the total such grants in
the Far East rose by 46 percent and comprised about onefourth of net new nonmilitary grants during 1953 as compared with one-sixth in 1952.
Direct a-id was provided to relieve temporary food shortages in Bolivia, Jordan, Libya, and Pakistan. Foodstuffs
also comprised a large portion of the grants to Israel. A
special program was organized to distribute mixed food
parcels in West Berlin to the people of East Germany
Approximately $37 million of food was furnished by tht?
Agriculture Department to private relief organizations for
d istribution abroad.
Section 550 sales begun
Under section 550 of the Mutual Security Act, agricultural
products are sold for foreign currencies which may be used
for offshore procurement under the military assistance program, for technical assistance grants, for the development of
strategic material resources, or for other purposes consistent
with the mutual security program. Although the sale of
agricultural goods does not enter the grant or credit figures,
the expenditures of the foreign funds for direct aid will be
included in the data. In case the funds are used for offshore purchases, the transfers of the completed goods to
foreign countries will become part of the grant figure. Up
to the end of December about $8 million of tobacco was sold
to the United Kingdom under this program, but considerably
larger amounts were shipped during the first few months of
the current year.
Outstanding credits near $12 billion
New credit disbursements were heavier in the last half of
1953, but the annual total retained the same relationship to
new grants as in the preceding year, comprising one-fourth of
the $2.6 billion gross nonmilitary assistance. New credits
continued to exceed principal collections. To the 1953 net
increase in outstanding Government credits of $235 million
there was added in September the $1-billion postwar settlement for assistance to Germany (see SURVEY, October 1953,
p. 17) bringing the total foreign indebtedness to the United
States Government, exclusive of World War I debts, to
$11.9 billion. This indebtedness is scheduled to be repaid
over the next 50 years.
During the year the United States Government collected
$251 million in interest on the indebtedness, an increase of
over 20 percent from 1952.
Major economic grants to France
In addition to the military assistance to France, which in
part consisted of transfers of military goods purchased there
by the United States, France was also a major recipient of
other grant assistance in 1953. Direct grant deliveries by
the Foreign Operations Administration were relatively stable
during the year at about the same level as in the preceding
year. During the June quarter, however, France received a
special grant of $89 million to meet a part of the French
deficit with the European Payments Union.
Congressional authorizations for the fiscal year 1954 included financial assistance of $85 million for manufacturing
of military goods in France and of $400 million to help defray
the French costs in Indochina. No payments were made from
these appropriations in 1953.
In August the French drew $100 million from the ExportImport Bank as an advance on anticipated earnings under
April 1954
SUEVEY OF CURRENT BUSINESS
19
the offshore-procurement contracts placed in the first half of
the year. France owed $105 million at the beginning of the
year on a similar loan disbursed in 1952. From its earnings
on offshore-procurement contracts in 1953 total payments of
$105 million were made on both loans.
The loan extended in 1953 required interest at 3% percent
or 1 percent more than the earlier loan. In March 1954 the
French, in order to decrease their interest costs, paid off
the residual balance of the 1953 loan, although it was not
finally due until June 1955.
The balance of the 1952 loan, which at the end of March
was $24 million, was due to be paid by the end of June.
France also drew $3 million on a franc loan extended for
basic development projects in its African possessions.
Altogether, however, repayments by France, which included
also $58 million on several postwar credits,- exceeded new
loans by $39 million in the year.
Berlin. Shipments of agricultural surpluses distributed
through American voluntary relief agencies totaled $12
million in the last half of the year. Christmas food parcels
valued at over $2 million were provided by the Foreign
Operations Administration for distrubtion to needy families
through local relief agencies and charitable groups.
Shipments of foodstuffs to Germany, to be distributed in
Berlin to the people from the Soviet sector of the city and
from the Soviet zone of Germany, totaled $8 million and
comprise the net grants shown for Other Europe in table 1.
Some of these shipments were for replacement of stocks in
Western Germany and were made after the distribution of
more than 5% million food parcels to East Zone residents
between July 27 and October 10.
Net credit collections in the Other Europe area reflected
surplus-property and Export-Import Bank loan repayments
by Poland. Hungary also made a small repayment.
Rest of Europe receives less
Large grants to Iran
The United Kingdom also made its scheduled payments
on postwar credits, but received $275 million in net nonmilitary grants from the United States. Such grants, onethird less than in the preceding year, were declining in the
last half of the year. No payments were made to the
United Kingdom from the 1953 appropriation of $85 million
for manufacturing of military equipment in that country.
Although Yugoslavia was the only Western European
country to receive, on balance, more transfers of nonmilitary
grants and credits in the past year than in 1952, these were
almost completely curtailed in the December quarter after
almost $100 million had been provided in the first 9 months
of 1953.
A marked decline in grant aid deliveries to Italy occurred
in the second quarter, and to Austria in the September
period.
No deliveries were made to Spain from the $85~million
economic program included in the basic agreements in September. (The first shipment of military equipment from
the $141-million military aid program was announced in
January 1954.) Throughout the year Spain utilized $14
million of the $62%-million loan authorized by the Congress
in 1950 and had $19% million still available at the end of
the year. Other Spanish loan activity in 1953 reflected net
disbursements on 18-month cotton credits extended by the
Export-Import Bank.
Half of the annual net economic grants to Turkey represented first half payments by the United States Government
to the European Payments Union in settlement of the
Turkish deficit on intra-European trade; 46 percent of the
net grants to Greece was of a similar character. A payment
of $4% million to the European Payments Union in behalf of
Iceland was also made in the June quarter.
In the Near East the data reflect Foreign Operations
Administration assistance to the Government of Iran
pending settlement of the nation's oil dispute. Extraordinary aid payments of $20 million were made in the last
half of the year. These funds were made available from
appropriations for military aid to Europe by the President,
acting under the emergency provision of the Mutual Security
Act.
In the last quarter shipments of sugar valued at nearly $10
million, including freight, were rushed to Iran. Imports of
sugar into Iran—where the supply is far below demand—
served to curb rising prices. Sales of the commodity provide
local currency which is used in part for Iranian Government
operating expenses and for technical assistance projects.
Net grants to Arab countries in the Near East and Africa
were doubled in 1953 from the preceding year. These grants
include shipments of surplus wheat to Jordan and Libya
under the Emergency Famine Relief Act. Contributions to
the United Nations Relief and Works Agency for Palestine
Refugees declined from $22 million to $9 million in 1953.
A id for West Berlin
Collections of $38 million from Germany on credits included $12 million to complete repayment of the ExportImport Bank 1952 credits to purchase cotton and tobacco.
Returns included also $23 million in foreign currency on
the postwar surplus property credits. Of this amount, $13
million in deutschemark was disbursed as a grant by the
State Department through the United States High Commissioner for Germany to the German Government to be
used for investments in West Berlin to stimulate the city's
economic recovery.
Net grants to Germany in the last half of the year included
transfers from the $50-million allotment made by the
President earlier in the year as a form of assistance to West
Israel draws surplus
foodstuffs
Economic assistance to Israel continued, but on a lower
scale than in the preceding year. Disbursements of $12
million brought the Export-Import Bank loan arranged in
1949 to within $3 million of complete utilization. These
disbursements were two-thirds offset by the required annual
repayments.
Shipments to Israel of agricultural surpluses provided by
the Agriculture Department through American voluntary
private relief organizations in the last quarter of the year
totaled $9 million.
Grants to India and Pakistan
Deliveries under the assistance program to Pakistan in 1953
consisted mainly of wheat to alleviate the threatened famine
following 2 years of drought. Early in the year the last
half of a $15-million loan for wheat purchases was disbursed.
Under special legislation approved by Congress in June shipments of 700,000 tons from the excess reserve stocks of the
United States Government were authorized on a grant basis.
By the end of the year nearly 600,000 tons valued at $62
million were shipped. The Foreign Operations Administration advanced $9 million to pay part of the freight cost in
moving the wheat. Fertilizer shipments of $3 million to
raise food output were included in the grants to Pakistan in
the last quarter. Technical and other economic assistance
rose to $7 million in the year.
SURVEY OF CUEKENT BUSINESS
20
In the preceding year it was the neighboring nation, India,
which received large wheat shipments, aggregating $84 million, on credit. Economic grants to India increased in 1953.
The Union of South Africa increased its drawings on the
Export-Import Bank credits for expansion of mining and
production facilities for strategic materials.
Japan was the notable exception to the rise in nonmilitary
assistance in the Far East. This country had received nearly
$2% billion in postwar grants—which will be the subject of
settlement and repayment negotiations—but had improved
its financial position as a result of large United States military
expenditures. Only small donations of agricultural supplies
were provided the home islands in 1952 and 1953. Grants to
the Ryukyu Islands declined by 72 percent in the latter year.
Cotton-purchase credits drawn from the Export-Import Bank
by Japan in the preceding year were repaid in the June 1953
quarter, and nearly equivalent new drawings were made in
the subsequent quarter.
A id to Far East increases
Net grants of technical and economic assistance to most
Far Eastern countries—Formosa, Philippines, Indochina,
Indonesia—advanced in 1953.
Credits included $2 million on an Export-Import Bank
loan for irrigation construction and $1% million as a special
wheat loan to Afghanistan and $13 million from the ExportImport Bank for transportation and communication development projects in Indonesia. In both countries credits
were smaller than in the preceding year.
Table 1.—Summary of Foreign Grants and Credits,
April 1954
Korean relief dips
Korean relief shipments by the Army Department dropped
greatly in the last quarter of the year after active hostilities
were terminated. A distribution of about 10,000 tons of
1
Military and Other, by Major Country: 1952 and 1953
[Millions of dollars]
Major country
Calendar
year
1952
2
Net grants and credits
Calendar year 1953
Total
JanuaryMarch
Calendar year 1953
OctoApril- Julyber-DeSepJune tember
cember
5,042
6,401
1,751
1,970
1,400
1,279
4,640
Net grants
4,792
Gross new grants
Less: Prior grants converted into
credits
152
Less: Reverse grants and returns .
5, 166
6,331
1,778
1,811
1,915
1,999
215
1,242
1,257
1,280
1,000
165
32
84
1,000
26
23
402
825
1, 235
712
-27
64
56
195
1,185
284
22
169
423
1 000
477
91
139
1,000
100
147
N e t credits
___ _ _ .
New credits
Plus: Prior grants converted into
credits
Less: Principal collections
3,789
3,646
144
Prior grants converted into credits
Other Europe:
Net grants and credits
Net grants
..
Net credits
4,497
4,653
-156
1,000
1,305
1, 353
-48
1,423
1,473
-50
-1
32
26
6
37
27
10
29
21
8
61
51
10
1,270
1,254
16
381
376
4
347
375
-28
282
255
27
260
248
12
127
78
49
400
57
343
20
10
10
140
15
125
124
18
106
116
14
102
85
73
12
70
68
2
15
14
2
24
25
-1
10
10
1
21
20
1
-1
-4
-1
Near East and Africa:
Net grants and credits
Net grants
Net credits
177
124
53
159
125
34
Asia and Pacific:
Net grants and credits
Net grants
Net credits
867
720
147
American Republics:
Net grants and credits
Net grants
Net credits
_..
816
919
-103
5
6
-1
-1
Unspecified:
N e t grants a n d credits _ _
Net grants
Net credits
953
908
45
1,000
1
3
-2
3
8
-4
-4
_
MILITARY GRANTS 3
2,681
2,747
66
4,371
4,434
63
1,295
1,299
4
1,394
1,447
54
837
840
3
846
849
3
Western Europe (including Greece and
Turkey) :
Net grants
2,196
3,537
1,020
1,126
688
703
390
773
262
246
131
134
_..
JanuaryMarch
American Republics:
Net grants
59
34
5
8
15
7
Unspecified:
Net grants __
36
26
7
14
3
3
2,361
1,959
2,045
2/029
794
1,897
457
484
512
576
521
552
564
-621
402
433
411
431
86
1,000
102
28
31
1,000
23
20
402
825
1,235
712
-27
64
56
195
1,185
284
22
169
423
1,000
477
91
139
1,000
100
147
1,593
1,449
144
960
1,115
-156
1,000
284
332
-48
296
346
-50
266
221
45
1, 000
113
216
-103
82
88
-5
35
35
14
14
-1
10
10
3
3
8
8
1
418
402
15
227
275
-48
88
88
61
63
-2
83
83
-5
42
-47
355
269
86
261
300
-39
35
63
-28
112
134
-23
100
42
57
15
60
-45 <
103
71
32
34
70
-36
2
10
-8
-6
15
-20
10
13
-3
27
32
-5
OctoApril- JulySep- ber-DeJune tember
cember
MILITARY GRANTS— Continued
OTHER GRANTS AND CREDITS
Net credits _
New credits
Plus: Prior grants converted into
credits
Less : Principal collections
Western Europe and dependent areas:
Net grants and credits
Net new grants
Net new credits
Prior grants converted into credits.
Austria:
Net grants and credits
Net grants
Net credits
_
British Commonwealth:
Kingdom:
Net grants and credits
Net grants
Net credits
United
France:
Net grants and credits
Net grants
Net credits
Germany:
Net grants and credits
Net new grants
Net new credits..
. . .
Prior grants converted into
credits
_
Net grants
Gross grants
__ _
Less: Reverse grants and returns
Asia and Pacific:
Net grants.
Total
Major country
Net grants and credits. __ .
Net grants
Gross new grants _
Less: Prior grants converted into
credits
_ _ ...
Less: Reverse grants and returns.
MILITARY AND OTHER GRANTS
AND CREDITS
Western Europe (including Greece and
Turkey) and dependencies:
Net grants and credits. .
_.
Net new grants
Net new credits _ _
Calendar
vear
1952
2
1,000
1,000
Greece:
Net grants and credits
Net grants
_
Net credits
123
129
-6
62
68
25
27
-2
18
19
2
9
10
-1
11
11
-1
Italy:
Net grants and credits
Net grants
Net credits
175
179
-4
106
134
-27
47
56
-9
19
22
-3
17
24
-7
23
31
-8
SURVEY OF CURRENT BUSINESS
April 1954
21
Table 1.—Nummary of Foreign Grants and Credits,1 Military and Other, by Major Country: 1952 and 1953—Continued
[Millions of dollars]
Major country
Calendar
year
1952
2
Calendar year 1953
Total
Janu- April- July- OctoSep- ber-DearyMarch June tember cember
44
68
-24
9
21
-12
7
8
Norway:
Net grants and credits
Net grants
Net credits
26
18
7
15
10
6
Spain:
Net grants and credits
Net grants
Net credits
24
24
21
1
19
59
53
6
1
-3
-1
4
-5
4
3
1
3
1
3
4
1
2
2
5
5
2
5
37
42
-5
14
14
-1
80
77
3
98
97
1
105
94
10
-4
Near East and Africa:
Net grants and credits
Net grants
Net credits
102
129
-28
151
124
27
126
114
12
11
12
(5)
5
8
1
7
India:
Net grants and credits
Net grants__
Net credits
94
11
84
37
37
7
7
12
12
7
7
12
12
14
15
-1
4
5
—1
5
7
-1
Indochina:
Net grants
22
25
6
5
4
9
32
32
(4)
43
43
4
()
22
22
(4)
1
1
33
4
29
17
5
11
6
2
4
2
2
1
1
8
1
7
53
63
-10
14
17
-3
20
23
-3
8
13
-4
64
28
36
5
8
-3
-3
2
-5
-28
6
-33
33
1
32
155
192
57
59
54
22
-1
-1
-4
3
8
-4
-1
-1
1
3
-2
5
6
-1
Pakistan:
Net grants and crdits
Net grants
Net credits —
8
1
7
90
81
8
9
1
8
2
1
1
39
39
40
40
177
324
53
159
125
34
32
26
6
37
27
10
29
21
8
61
51
10
Philippines:
Net grants and credits
Net grants
Net credits
9
20
-11
23
25
-2
6
9
-3
11
6
5
-2
4
-5
7
6
1
11
52
6
7
11
28
109
82
27
49
45
4
12
9
3
19
16
3
5
6
-1
14
14
Other and unspecified Asia and
Pacific:
Net grants and credits
Net grants
Net credits
16
13
3
23
20
3
6
5
11
9
2
4
3
1
26
35
3
9
11
11
68
19
49
365
23
343
15
5
10
132
7
125
109
4
106
109
7
102
31
31
()
23
27
-4
11
12
()
2
4
-2
3
4
-1
8
9
-1
49
37
12
43
41
2
8
6
2
10
11
-1
7
6
1
18
18
1
Union of South Africa:
Net credits
_
Other and unspecified Near East and
Africa^
Net grants and credits
Net grants
Net credits
118
114
4
27
30
-2
Iran:
Net grants
Israel:
Net grants and credits
Net grants
Net credits
497
482
16
26
26
(6)
_
__
Asia and Pacific:
Net grants and credits
Net grants
Net credits .._
85
88
-3
t
Other Europe:
Net grants and credits
Net grants
Net credits
5
8
-3
76
78
-1
Yugoslavia:
Net credits
478
331
147
Janu- April- July- OctoarySep- ber-DeMarch June tember cember
China-Taiwan (Formosa):
Net grants and credits
Net grants
Net credits
Net credits
Other and unspecified Western
Europe:
Net grants and credits
Net grants
Net credits
Total
4
4
Turkey:
Net grants and credits
"N" t
Calendar year 1953
Calendar
year
1952
OTHER GRANTS AND CREDITS—
Continued
OTHER GRANTS AND CREDITS—
Continued
Netherlands:
Net grants and credits ..
Net grants
Net credits
Major country
2
5
5
5
()
(4)
10
10
(8)
(4)
Indonesia:
Net grants and credits
Net grants.
Net credits
.
Japan and Ryukyu Islands:
Net grants and credits
Net grants __
Net credits
Korea:6
Net grants
American Republics:
Net grants and credits
Net grants
Net credits
Unspecified: 6
Net grants and credits
Net grants
Net credits
_
(4)
(4)
(5)
(4)
(4)
21
21
3
3
3
3
1. The measure of foreign grants and credits generally is in terms of goods delivered or
shipped by the United States Government, services rendered by the United States Government, or cash disbursed by the United States Government to or for the account of a foreign
government or other foreign entity.
2. For security reasons data by country do not include the military aid furnished principally
under the mutual-security program. Transfers of military assistance generally reflect the
area of consignment of the equipment; in particular data for Asia and Pacific include shipments to Indochina while those for Western Europe include shipments to France, a part of
which may have replaced equipment used by the French forces in Indochina. The aid shown
in the table includes credits which have been extended to private entities in the country
specified and grants of Government agricultural surpluses distributed abroad by American
voluntary relief agencies.
3. Includes supplies, services, and contributions to the multilateral-construction program
of the North Atlantic Treaty Organization. The latter item is treated in the balance-ofpayments computations as a military purchase of services rather than a grant.
4. Less than $500,000.
5. Negative entry of less than $500,000.
6. Includes aid furnished through international organizations.
Note.—Further definition and explanation of these data are contained in the Foreign Aid
supplement of the SURVEY OF CURRENT BUSINESS, published in November 1952, and available at $1.00 from the Superintendent of Documents, Washington 25, D. C., or the various
Department of Commerce field offices.
Source: U. S. Department of Commerce, Office of Business Economics.
foodstuffs from military stocks was made in the September
period under direction from the President.
Payments of $41 million were made to the United Nations
Korean Reconstruction Agency in the first half of the year.
Purchases from these funds by the international organization
were moving into Korea in the last half of the year and served
to balance the decline of direct commodity assistance from
United States agencies. United States Government aid
included another $15-million payment to the international
organization in the final quarter of the year.
Some $3 million of the $200-million interim emergency aid
authorized by Congress for rehabilitation and economic
support in Korea was supplied at the end of 1953.
Brazil leads credit recipients in 1953
The recipient of the largest credits in 1953 was Brazil.
Included was a $300-million loan from the Export-Import
Bank to consolidate and liquidate past-due dollar accounts
with American exporters and $38 million on various development loans. Brazilian loan repayments in 1953 totaled
$14 million.
Mexico drew $24 million in credits and made repayments
of $9 million. Assistance to Mexico in the eradication of
foot-and-mouth disease rose again to nearly $2 million in
the December 1953 quarter, after running at nominal
amounts for a year.
SURVEY OF CUKEENT BUSINESS
22
Other American Republics received $4 million on balance
in loans and other long-term credits during 1953.
Technical assistance to these countries was about the same
in the past 2 years. Bolivia received three-quarters of a
million dollars worth of wheat under the Emergency Famine
Relief Act. The original program for $5 million in such
shipments to Bolivia was raised to $8 million on March 15,
1954.
Multilateral programs continue
The annual contributions to the programs for technical
assistance administered by the United Nations and the
Organization of American States were not changed in 1953,
April 1954
totaling $13 million. Payments of $7 million to the Intergovernmental Committee for European Migration provided
that international organization with funds to continue the
program of assisting Europe by resettling European surplus population in other areas where its skills would be
beneficial.
In November the Government disbursed another contribution of $10 million to the International Children's Emergency
Fund, bringing total contributions to this program since
1947 to $97 million.
The United Nations made the scheduled $l%-million repayment on the $65-million loan for construction of the headquarters building in New York.
Financing Corporate Business
(Continued from page 16)
debt issues. For the most part it reflected the heavy volume
of business done by nonbank concerns engaged in extending
credit on durable consumer goods.
Proceeds from the sale of stock in 1953 flowed almost entirely to three groups—utilities, communications, and
finance. In the last case, stock sales represented largely
flotations by investment companies; in the case of communications, a substantial volume of new stock sales represented
the conversion of debt issues.
The volatility of the manufacturing industry's flotations
in the capital markets is strikingly shown in the table. The
reduced capital demand in 1949 and the intensified demand
in 1951 and 1952 were quickly reflected in the new issues
market. In the 1949-50 period, manufacturers were practically out of the new issues market, and only after a lag of
some months did activity pick up in response to the new
and higher defense requirements following the outbreak of
Korean hostilities.
Cost of
financing
Although the cost of borrowing in 1953 was on the average
higher than in any year since prewar, rates were lowered in
the latter part of the year, and these trends have been continued into current months (table 4). Largely as a result
of the favorable terms of postwar financing, interest payments continue to be relatively low in historical perspective.
These costs represented slightly more than 9 percent of earnings available for interest (i. e., profits before taxes and interest) in 1953, up fractionally from 1952, but far below the
prewar ratio of 20 percent in 1940 or the 30 percent ratio
in 1929.
Common stock earnings-price ratios averaged slightly
higher in 1953 relative to 1952 but, as in the case of borrowing costs, were tending downward in the latter part of the
year as stock prices firmed while earnings tended downward.
Common stock dividend yields remain ed rather steady through
most of 1953, except for the railroad groups where dividends
were somewhat higher while share prices did not keep pace
with general market averages. Dividend yields were
generally lower in the first quarter of this year.
Despite the somewhat reduced cost of equity financing in
the current period, the general cost structure, as well as the
relatively low volume and cost of corporate debt, continues
to favor financing through use of borrowed funds, in view of
the interest rates prevailing. It may be noted from table 4,
for example, that bond yields are currently less than twothirds of dividend yields. In the prosperous mid-twenties,
interest rates and dividend yields were of the same order
of magnitude.
Summary
The unprecedented capital expansion program undertaken
by corporations in the postwar period was carried through
with relative smoothness. Use of borrowed funds was somewhat more pronounced than in earlier expansions, but this
appears to have reflected in part the earlier improvement in
debt position and the exceptional postwar working capital
needs.
Total long-term funds used in the 1946-53 period amounted
to almost $200 billion. Of this sum, half came from retained
earnings and stock issues, slightly less than one-third was in
the form of depreciation allowances, and one-sixth took the
form of long-term debt. The proportion of gross equity to
total long-term financing in the postwar period was roughly
the same as indicated by the balance sheet of all corporate
business at the end of the war—a period when the financial
position was rather favorable. At that time the combined
balance sheet of corporations reflected the effects of wartime
conditions which tended not only to increase the relative
importance of equity financing but also to lower the influence
of long-term debt in the overall financial structure.
/ lew
or
STATISTICAL SERIES
Indexes of Prices Received by Farmers: Revised Series for Page S—5 ]
[1910-14-100]
Livestock and products
Crops
All farm
products2
Year
Total
Monthly average:
1910
1911
1912
1913
_-- _
1914
1915
1916
1917
1918
1919
1920
1921
1922
1923
1924
1925
1926
1927
1928
1929
. -_.
_
___
_.
.
1930
1931
1932
1933
1934
1935
1936
1937
1938
1939
1940
1941
1942
1943
1944
1945 ___
1946
1947
1948_ __
1949
1950
1951
1952
1953
-_.
.
_-_
_
_.
Food
grains
Feed
grains Tobacco
and hay3
Cotton
Fruit
CommerOilcial vegetables for bearing
crops
fresh
market
Total 2
Poultry
Dairy
Meat
animals2 products2 and eggs
104
94
99
102
101
99
119
178
206
217
105
101
100
98
96
96
120
191
220
230
109
98
103
91
99
127
134
228
232
245
96
97
110
93
104
105
109
1-82
204
207
84
84
102
122
108
82
108
182
242
303
118
105
90
101
86
76
116
185
247
252
100
105
97
105
93
82
97
115
162
172
120
106
90
93
91
106
155
224
257
261
102
88
98
105
107
102
117
165
194
206
101
84
96
108
111
102
121
176
202
207
100
94
101
101
101
101
111
145
177
200
104
90
100
101
105
101
115
155
185
208
211
124
131
142
143
156
145
140
148
148
235
121
136
156
159
164
139
134
142
135
249
131
117
112
126
171
152
135
128
116
202
92
92
113
127
132
104
114
121
118
233
164
185
189
173
168
170
164
172
171
262
106
162
227
226
186
127
134
156
150
188
164
164
136
131
165
140
138
154
131
151
153
149
136
147
137
208
95
138
176
158
147
116
124
147
143
190
127
126
128
128
149
151
146
155
159
171
106
113
105
109
139
146
138
150
155
202
149
139
159
148
156
156
162
165
166
222
160
139
145
147
162
157
142
151
161
125
87
65
70
90
109
114
122
97
95
115
75
57
71
98
103
108
118
80
82
93
56
44
66
90
97
108
120
75
72
106
74
48
57
95
107
103
125
71
72
140
98
84
107
156
171
163
200
173
152
104
64
49
68
101
98
99
94
70
74
149
97
78
74
93
89
102
117
72
74
128
107
100
90
94
116
108
114
96
98
111
73
44
57
103
127
120
129
95
96
134
98
72
70
81
114
119
126
112
107
133
91
63
59
68
115
118
130
113
110
142
111
86
87
101
114
125
131
115
110
128
98
81
74
89
116
115
111
110
96
100
124
159
193
197
207
236
276
287
250
90
108
145
187
199
202
228
263
255
224
84
97
120
148
166
172
201
271
250
218
85
92
115
152
172
167
202
256
258
177
134
157
247
319
348
360
376
374
380
398
83
111
156
167
172
179
238
-274
272
246
81
94
127
207
233
228
240
186
166
196
122
138
178
270
236
240
217
262
253
232
103
138
183
202
222
228
260
363
351
242
109
138
171
198
196
211
242
288
315
272
108
143
186
203
190
207
248
329
361
311
120
140
163
198
222
229
268
273
301
252
98
122
152
191
177
198
201
223
242
221
258
302
288
258
233
265
267
242
224
243
244
231
193
226
234
208
402
436
432
429
282
336
310
268
194
181
191
206
211
269
274
240
276
339
296
274
280
336
306
273
340
409
353
298
249
286
302
273
186
228
206
221
1 Compiled by the U. S. Department of Agriculture, Agricultural Marketing Service. The indexes have been revised to incorporate the latest revisions in the individual price series and to
reflect in the basic weight data the latest sales and income estimates. Some of the group indexes remain substantially unchanged but are shown here for convenience of the user. Monthly
data along with a brief discussion of the revision are included in "Supplement No. 2, Agricultural Prices, January 1954" (available from the U. S. Department of Agriculture).
28 Average per unit production payments made on butterfat, milk, beef cattle, sheep, and lambs are included for the period October 1943-June 1946 inclusive.
Prices for loose hay used from January 1910 through December 1938, for baled hay from January 1939 through December 1953.
23
SURVEY OF CUEEENT BUSINESS
24
April 1954
Farm Income and Marketings: Revised Data for Page S—2
1
Cash receipts from farming
Indexes (unadjusted)
Receipts from marketings and
CCC loans
Receipts from marketings and CCC loans
Total,
including
Government
payments
Year and month
Livestock and products
Total
Crops
Dairy
products
Total
Meat
animals
Poultry
and eggs
Total
Crops
Millions of dollars
1951 : January _
February
March
April ._
May
June _ _
_
_
_
__
._
July
August
September _ _ _ _
October
November _
December
Monthly average 1952: January
February
March
April ._ _
May
June
July
August
September
October
November.
December.
.
_. _
_
_. __ _ __
Monthly average _
_ _ __
_
Physical volume of farm
marketings
Livestock
and
products
Total
Livestock
and
products
Crops
1935-39=100
2,617
1, 980
2,084
2,155
2,194
2,185
2,588
1,954
2,032
2,106
2,161
2,159
1,033
610
521
514
461
598
1,555
1,344
1.511
1,592
1,700
1,561
307
296
344
366
417
420
1,007
813
862
900
890
764
230
223
284
285
315
309
390
295
307
318
326
326
365
216
184
182
163
211
409
354
398
419
447
411
142
106
110
112
119
123
135
82
69
63
61
81
148!
124
141
148
163
154
2,531
2,909
3,339
4,237
3,769
3,085
2, 520
2,902
3,331
4,227
3,752
3,067
1,001
1,275
1,562
2,167
1,940
1, 505
1,519
1,627
1,769
2,060
1,812
1,562
396
373
345
339
324
323
804
940
1,073
1,351
1,085
876
288
297
338
356
391
352
380
438
503
638
566
463
354
451
552
766
686
532
400
428
466
542
477
411
143
162
180
216
185
158
140
178
207
263
205
164
145
151
159
179
170
154
2, 757
2,733
1,099
1,634
354
947
306
412
388
430
146
137
153
2,627
2,070
2,091
2,096
2,176
2,293
2,604
2,037
2,047
2,049
2,142
2,273
1,085
645
620
565
602
800
1,519
1.392
1,427
1,484
1,540
1,473
340
325
367
382
438
436
921
824
794
824
811
756
249
234
254
259
263
254
390
305
307
307
321
341
383
228
219
200
213
283
399
365
375
390
405
387
144
117
118
117
125
132
135
83
76
67
76
98
151
142
149
155
161
156
2,640
2,895
3,467
4,009
3,325
2,959
2,626
2.887
3,459
3,995
3,311
2,943
1,137
1,364
1,825
2,201
1, 697
1,478
1,489
1,523
1,634
1,794
1,614
1,465
418
400
372
368
356
352
776
809
932
1,068
867
761
271
299
314
338
375
334
394
433
519
600
497
441
402
482
645
778
600
522
392
401
430
472
425
385
153
163
190
219
181
174
156
180
228
267
194
186
150
149
161
184
172
165
2,721
2,698
1,168
1,530
380
845
287
405
413
402
153
146
158
i Compiled by the 17. 8. Department of Agriculture, Agricultural Marketing Service. Data have been revised to incorporate more complete information.
Indexes of Prices Paid by Farmers and Parity Ratio: Revised Series for S—5 1
[1910-14 = 100]
PRICES PAID—ALL COMMODITIES, INTEREST, TAXES, AND WAGE RATES
Month
1937
January
February
March
April
_
_
___
_ .
May
June
July
August
September
October
November
December
Year
_ _
_
_. __
1938
1939
1940
1941
1942
1944
1943
1945
1946
1947
1948
1949
1950
1951
1952
1953
129
130
132
133
134
133
127
127
126
125
125
125
123
123
122
123
123
122
124
124
125
125
125
123
126
126
126
128
129
130
144
146
148
150
151
152
162
164
166
169
171
172
178
180
180
182
182
182
187
188
188
190
190
190
194
195
196
198
200
203
227
229
234
237
237
238
262
257
258
261
262
263
256
253
256
255
254
253
249
249
250
251
254
255
273
277
281
284
284
283
288
290
289
290
290
288
284
281
282
280
280
277
133
132
130
129
128
127
124
123
122
122
122
123
122
121
123
123
123
123
123
123
123
123
124
124
133
135
137
139
140
142
153
154
154
157
158
159
172
173
172
175
175
177
183
183
183
184
184
185
190
190
190
191
191
192
211
214
213
220
225
224
240
242
245
247
249
253
263
261
260
258
258
257
251
249
249
247
246
247
257
258
261
262
264
266
283
283
283
284
285
285
287
288
286
284
282
281
279
279
277
276
277
278
131
124
123
124
133
152
171
182
190
208
240
260
251
256
282
287
279
PARITY RATIO 2
1937
January
February
March
April
May
June
July
Au°"ust
September
October
November
December
Year
1938
1939
1940
1941
1942
1943
1944
1945
1946
1947
1948
1949
1950
1951
1952
1953
98
98
100
99
97
94
82
78
79
78
76
76
78
77
78
76
76
75
81
84
82
82
81
78
86
85
86
89
89
92
103
103
102
103
102
101
113
114
117
116
113
113
113
110
111
109
109
108
110
108
109
109
108
110
110
109
110
110
109
109
113
114
119
115
113
111
118
110
111
112
111
112
104
102
102
101
100
98
94
96
96
98
98
98
110
113
111
110
108
106
104
101
100
101
100
101
94
94
94
92
94
93
95
92
92
88
85
84
78
76
78
77
79
80
75
74
80
80
81
80
79
77
80
81
82
84
95
96
101
99
97
100
102
104
106
107
108
111
112
112
113
113
112
112
105
105
107
106
107
109
109
108
106
108
110
. HI
115
116
115
123
117
117
113
113
117
.116
116
120
113
111
111
106
104
104
97
98
100
98
96
96
102
103
105
102
105
109
104
103
103
105
106
107
102
102
101
99
98
95
93
91
93
90
90
91
93
78
77
81
93
105
113
108
109
113
115
110
100
101
107
100
92
1 Compiled by the 17. 8. Department of Agriculture, Agricultural Marketing Service. Data reflect revisions in interest and taxes and changes in the index of prices received by farmers. Only
a few minor changes were made in data for "all commodities, interest, taxes, and wage rates" for earlier years; however, figures for the entire period of revision are shown here. Scattered
revisions in the parity ratio prior to 1937 are as follows: Annual—1910,107; 1911, 96; 1914, 98; 1919,110; 1927, 88; 1928, 91; monthly—March 1924, 86; June 1925, 96; June 1926, 90; March 1927, 84;
March
1929, 91; June 1929, 90; June 1930, 83; December 1930, 72; December 1932, 58; June 1933, 68; June 1934, 71; June 1935, 85; December 1935, 92; December 1936, 97.
2
Ratio of prices received by farmers to prices paid for all commodities, interest, taxes, and wage rates.
BUSINESS STATISTICS
-L HE STATISTICS here are a continuation of the data published in BUSINESS STATISTICS, the 1953 Statistical Supplement to the SURVEY
OF CURRENT BUSINESS. That volume (price $1.50) contains monthly data for the years 1949 to 1952, and monthly averages for earlier years
back to 1935 insofar as available; it also provides a description of each series and references to sources of monthly figures prior to 1949. Series
added or revised since publication of the 1953 Supplement are indicated by an asterisk (*) and a dagger (|), respectively, the accompanying footnote indicating where historical data and a descriptive note may be found. The terms "unadjusted" and "adjusted" used to designate index
numbers and dollar values refer to adjustment of monthly figures for seasonal variation.
Statistics originating in Government agencies are not copyrighted and may be reprinted freely,
provided through the courtesy of the compilers, and are subject to their copyrights.
Unless otherwise stated, statistics through
1952 and descriptive notes are shown in the
1953 Statistical Supplement to the Survey
Data from private sources are
1954
1953
February
March
April
May
June
July
August
September
October
November
December
January
February
GENERAL BUSINESS INDICATORS
NATIONAL INCOME AND PRODUCT
Seasonally adjusted quarterly totals at annual rates:
National income, total
bil. of dol_.
Compensation of employees, total
do
Wages and salaries, total
do
Private _ _
__
- _
_do_ Military
do
Government civilian _. _ .
__do
Supplements to wages and salaries _. .-do ._
Proprietors' and rental income, totaled-- do
Business and professional cf
_ _ _ . do__ Farm _ _.
. - do_
Rental income of persons
do
Corporate profits and inventory valuation adjustment, total
- _
. bil.ofdol
Corporate profits before tax, total
do__.
Corporate profits tax liability
do
Corporate profits after tax __
do__.
Inventory valuation adjustment
- d o __
Net interest- __
__
...do.- _
306.7
204.5
194.5
161.3
10.4
22.8
10.0
50.8
27.0
13.4
10.4
310.7
208 0
198 0
164.5
10 6
22.9
10.0
49.7
27.0
12.3
10 4
308.1
210.4
200. 6
166.9
10 5
23.1
9.8
49.1
26.9
11.6
10 6
207.7
198.0
164 4
10.3
23 3
9.8
50.0
26.9
12 2
10.8
43.8
44.6
24.4
20.3
-.8
7.6
4&. 2
45.9
25.0
20.8
—.6
7.7
40.7
43.3
23.6
19.6
-2.6
7.9
10
8. 1
Gross national product, total
. _ - _ _ _ __ do_ _ _
Personal consumption expenditures, total do
Durable goods- _ _ _ _ _ _
do__ _
Nondurable goods
__ _ _ _ _ do
Services _ ._ _ __
__do._ Gross private domestic investment, total
bil ofdol
New construction
do
Producers' durable equipment
do
Change in business inventories. _ _ _ . _ _ d o
Net foreign investment
__ do
Government purchases of goods and services,
total
-_ ._ bil.ofdol
Federal (loss Government sales)
do
National securitv9 __
do
State and local
do
363.9
227. 7
30.2
121.2
76.3
371.4
230 4
30.7
122 1
77.6
369.5
231.0
30.4
121.3
79.2
363
230
29
120
80
5
0
1
4
5
54.9
25 0
26.2
3.7
-2.1
58 5
25 3
26 9
63
-2.5
55.2
24 9
27 1
31
-2.1
48
25
26
—3
—1
8
3
5
0
0
83.4
58 5
51.6
24 9
85 0
60.5
53 5
24.6
85 5
60.4
52 1
25.2
85
59
50
26
7
5
0
3
Personal income, totaL _ _ _ _
_ do
Less: Personal tax and nontax payments- _do_ _
Equals: Disposable personal income do
Personal saving§
__ _ _
do
281.6
36.2
245. 4
17. 7
284 4
36. 7
247 7
17.2
286.8
37.0
249 8
18.8
285
36
949
19
9
6
3
3
PERSONAL INCOME, BY SOURCE
Seasonally adjusted, at annual rates:
Total personal income
bil ofdol
Wage and salary disbursements, total
do
Commodity-producing industries-, do
Distributive industries
_
do
Service industries
do
Government
do
Wage and salary receipts, total _.
do
Other labor income
do
Proprietors' and rental income
do
Personal interest income and dividends do
Transfer payments
do
Loss personal contributions for social insurance
bil.ofdol..
Total nonagr icultural income
do
281.0
194.6
88.0
50.6
22.8
33 2
190.9
51
50 2
21 7
13.' 3
283.6
196. 2
88.8
50.9
23.2
33 3
192.4
5.1
50.7
21.9
13.7
282.7
196. 6
88.8
51.0
23.4
33.4
192.8
5.1
49.4
22.0
13. 6
284.7
198. 0
89.3
51.7
23.5
33. 5
194. 2
5.1
50.0
22.1
13.5
3.9
4.0
4.0
4.0
4.2
4.2
4.1
4.0
4.0
4.0
4.1
263.3
265. 4
265. 5
267.2
268.8
270.6
270.7
270. 0
270.5
269.0
267.2
286.3
199.5
89.8
52.2
23.9
33.6
195. 6
5.1
50.1
1:1 5
287. 5
201.2
90.6
52.9
24.2
33. 5
197. 3
5.1
49.5
22.4
13.5
287.0
201.0
90.2
52.9
24.1
33.8
197. 1
5.1
48.9
22.5
13.6
286.3
199.9
89.3
52.7
24.1
33.8
196.0
5.1
49. 0
22.7
13.6
287.2
199. 3
88.7
52.7
24.2
33.7
195. 6
5.1
49.5
22.8
14.5
285. 9
198.3
87.7
52. 9
24. 1
33. 6
194.5
5.1
50.0
22.7
13.8
284.6
196. 3
86.4
52.2
24.2
33.5
192.5
5.1
50.3
22.7
14.3
' 283. 7
r 195. 7
r
85. 4
r
52. 6
'24.1
' 33. 6
r
191. 2
5.1
50. 0
r
23. 0
r
!4. 7
M.8
r
266. 4
282. 9
194. 7
84. 7
52. 5
24. 1
3;-5.4
190. 2
5.1
49.8
23. 1
15. 0
4.8
265. 8
NEW PLANT AND EQUIPMENT
EXPENDITUK ES
6,339
7,289
7, 098
7 606
i 6, 808
2, 747
3, 192
2,945
i 2 893
3 39'?
225
234
265
i 262
288
313
359
300
341
i 295
Transportation, other than rail
do
i
337
366
386
376
i
358
005
Public utilities.do_ _ J
1, 158
1,219
1 946
1 1 , 026
Commercial and other . _ _ . _
_
do
i
1,792
9 /m
1.984
J.979 !
1 1 O7^
r
1
Revised.
Estimates for January-March based on anticipated capital expenditures.
^Includes inventory valuation adjustment
^Government sales arc not deducted.
§Personal saving is excess of disposable income over personal consumption expenditures shown
as a component of gross national product above.
Ule visions for 1952 and estimates for 19.5 i (based on anticipated capital expenditures of business) appear on p. 10 of the March 1954 SURVEY.
All industries, quarterly totalt
Manufacturing
Mining-.
.. ___ _
_
mil. ofdol
do
i
do
'
SURVEY OF CURRENT BUSINESS
S-2
Unless otherwise stated, statistics through
1952 and descriptive notes are shown in the
1953 Statistical Supplement to the Survey
April 1054
1954
1953
February
March
April
May
1
1
June
July
August
September
October
November
December
January
2, 649
2,631
1 218
1,413
330
790
272
f' I 949
p 1 928
P 664
r I 264
v 297
*>680
r 967
February
GENERAL BUSINESS INDICATORS—Continued
FARM INCOME AND MARKETINGS^
Cash receipts from farming, including Government
payments, total
mil. of dol _
Farm marketings and CCC loans, total
do
Crops
do
Livestock and products, total
do
Dairv products
do
Meat animals
_
do
Poultry and eggs
do
Indexes of cash receipts from marketings and CCC
loans, unadjusted:
1
A. ! commodities
1935-39 — 100
Crops
do
Livestock and products
do__ _
Indexes of volume of farm marketings, unadjusted:
All commodities
1935-39 = 100..
Crops
do
Livestock and products
do
1,918
1, 902
643
1,259
311
680
256
2,119
2.094
677
1,417
357
742
305
2.020
1.983
572
1,411
365
721
306
2, 009
1, 975
513
1.462
407
708
318
2, 156
2,130
690
1,440
402
714
295
2,404
2,390
996
1, 394
386
682
302
2, 461
2,453
1, 060
1.393
364
695
320
3, 169
3,164
1,718
1,446
287
227
331
316
239
373
299
202
371
298
181
385
321
243
379
361
352
367
370
375
367
118
90
138
126
85
157
124
76
160
124
71
164
137
94
169
153
148
157
136
138
136
136
136
129
136
135
139
158
142
146
143
172
136
170
149
210
140
160
143
150
146
175
138
172
154
206
139
159
141
146
147
173
139
167
150
199
138
157
142
148
143
170
139
163
148
192
138
155
138
143
144
168
139
159
146
184
130
147
124
137
143
161
135
148
138
168
137
153
130
138
136
151
127
134
140
157
137
197
137
158
137
200
137
161
138
205
147
167
146
158
do
.-do.. _
do
_ do.. _
do
__do
_ do__ .
do
do
_ do
195
151
121
461
153
122
119
129
125
136
199
161
144
461
157
123
122
132
128
140
198
170
142
452
155
121
126
134
126
140
194
162
124
452
156
118
122
135
125
139
193
166
106
452
157
117
122
136
123
140
190
161
118
461
151
113
112
132
113
133
189
153
127
473
153
116
122
137
123
143
182
134
115
480
155
115
121
136
122
144
189
151
106
481
156
116
123
139
128
148
Nondurable manufactures _
_ _ _ _ do__ .
Food and beverage manufactures
do
Food manufactures
do
Meat products
do
Baker v products
do
Beverages
do
Alcoholic beverages
_
do
Tobacco manufactures. __ _
do_ _
Textile-mill products
do
Cotton and svnthetic fabrics
...do. _
119
97
99
118
99
91
88
117
112
114
121
99
99
117
100
99
100
113
113
117
118
99
98
111
98
105
102
104
109
111
119
102
101
103
100
110
102
107
112
115
121
108
105
105
103
119
107
110
111
114
113
112
110
98
102
121
107
94
93
95
121
118
118
102
101
118
108
117
107
110
122
124
127
111
102
113
108
111
102
105
122
120
121
123
123
112
133
131
118
147
150
128
134
140
120
110
136
132
123
149
154
127
132
143
107
104
136
134
123
150
159
127
131
140
110
102
132
131
122
148
159
129
132
137
117
97
134
133
120
146
161
131
136
131
102
91
120
117
114
141
157
132
137
114
115
103
135
133
116
143
157
135
138
122
113
77
134
85
112
111
132
88
116
115
74
133
119
123
118
81
131
139
125
120
81
134
142
130
117
69
135
138
130
134
135
136
137
136
13(3
155
137
168
136
163
145
200
137
155
136
168
137
163
147
195
138
155
136
169
13S
161
147
195
139
156
139
169
139
162
146
194
191
153
119
124
133
135
190
155
121
121
135
138
190
153
124
120
131
141
192
156
123
119
135
143
INDUSTRI A L PRODUCTION
Federal Peserre Index of Physical Volume}
Unadjusted combined indexf
- 1947-49 = 100.,
Manufactures
do
Durable manufactures
do
Primary metals
.
__do
Steel
do
Primary n on ferrous metals
do
Metal fabricating (incl ordnance)
do
Fabricated metal products
do
Machincrv
__ . _ do
"NTo'n electrical machinerv
do
Electrical machinery
...
do
Transportation equipment
Autos
_.
- _
Trucks
A ireraft and parts
_ _ .
Instruments and related products
Furniture and fixtures
_
Lumber a n d products _ _ _ _ _ _ _
Stone, clav, and glass products
_
Glass and potterv products
Miscellaneous manufactures
Apparel and allied products
Leather and products
_
Paper and allied products
Pulp and paper
_ ___ _
Printing and publishing
Chemicals and allied products
Industrial chemicals
Petroleum and coal products _ ._ _.
Petroleum refining
Rubber products
Minerals
Coal
.
_
Crude oil and natural gas
Metal mining
..
Stone and earth minerals
__ _
Adjusted, combined indexf
do
do _
do
do
do
do _
do
do
do
do
do
do
do
_do__.
do
do
Manufactures.._ __
. ... . do..
Durable manufactures
,
do
Primarv metals
do
Metal fabricating (incl. ordnance)
do
Fabricated metal product^
do
Machinery
_____
do
Nonelectrical machinery
... do. _.
Electrical machinerv
do
Transportation equipment ... ..
Instruments arid related products
Furniture and
fixtures
Lumber and products., ___ _. Stone, clav, and glass products
Miscellaneous manufactures .
do
do
do
do _
do
do
74
'
3.700
3,693
2 169
1,524
3, 443
3, 439
1 865
1.574
336
812
355
334
858
366
2, 986
2,974
1, 550
1,424
336
739
331
477
607
381
557
767
401
519
659
414
449
548
375
307
430
372
r 291
r> 235
v 333
156
154
192
231
226
289
158
164
179
203
227
186
178
198
162
160
' 169
154
P 122
"99
r 139
136
130
124
124
125
138
154
129
136
132
146
122
129
125
140
110
114
'145
155
' 126
149
137
172
125
140
112
115
145
155
122
146
133
172
v 12P>
P 139
v 112
P 114
r 147
P 153
P 121
P146
p 134
P 168
141
166
334
768
330
147
164
130
154
135
' 191
173
107
95
114
114
134
122
145
174
107
98
••483
'155
112
99
128
r
116
138
110
'99
102
125
97
84
80
92
87
90
111
U
5
101
116
118
116
100
101
118
111
114
135
99
99
100
111
96
102
106
94
135
130
122
145
151
133
136
122
107
97
140
138
126
151
151
131
135
127
100
89
135
133
126
150
149
131
137
120
'98
87
119
117
122
14f>
147
128
137
111
10°
91
125
12s
117
122
85
135
140
133
122
84
136
139
131
118
84
131
122
132
113
131
95
111
71
133
'74
' 126
' 122
137
136
133
132
329
138
154
137
168
139
10 1
144
194
139
157
136
171
142
164
145
200
138
157
137
134
152
130
134
151
128
131
171
140
165
145
203
166
135
166
134
161
141
200
188
157
122
114
134
145
196
156
121
119
135
143
191
156
119
116
135
146
186
155
114
'114
134
140
r
r
463
156
l«rt
159
141
193
r
189
154
113
117
133
140
r
122
r
159
130
152
136
184
' ISO
155
' 109
' 115
132
138
r
127
142
113
1 56
126
Mi)
133
172
' 182
r
J54
' 106
r
110
129
' 136
183
135
121
483
149
106
104
122
114
130
1 ?6
95
82
79
105
91
97
r
1 46
T
r
p 181
r 138
r> 111
p 472
p 14Q
v 106
p 110
p 123
p 115
P 134
p 113
p 95
p 112
P 97
P 87
v 97
p 101
p 111
p 97
T 127
v us
r ]4~
P 147
146
l' ; 7
134
11 7
P 122
T
P127
111
~\
1 3 ')
72
110
r 111
1^5
f 123
126
140
IHt
154
124
143
131
It -8
184
14°
105
115
126
139
p 68
v 137
P 72
P 125
p 137
r 107
r 149
p 121
p 140
" 130
p 160
r 178
p 149
•p 1 03
r> 115
!>' 1^7
p 133
121
118
119
121
119
' 112
112
121
123
117
115
Nondurable manufactures - _ .
do
117
p 112
108
107
100
108
109
107
108
109
108
108
103
Food and beverage manufactures
do
104
v 104
104
103
104
103
107
108
112
Tobacco manufactures
.
_
do
116
107
106
120
108
104
108
108
95
' 90
109
100
98
Textile-mill products
do
111
106
113
90
P 92
114
109
104
101
112
116
107
Apparel and allied products
do
117
'101
110
100
p 100
115
104
99
104
104
91
103
91
97
93
108
93
Leather and products . .
do...
p 86
91
T
v
Revised.
Preliminary.
} Revisions for 1951 and 1952, incorporating more complete data, appear on p. 24 of this issue of the SURVEY.
fRevised series. The index has been improved in this revision by (1) incorporation of a number of new series; (2) revision of weights, seasonal adjustment factors, and working-day allowances; (3) adoption of a more recent comparison base period; (4) use of improved industrial classifications, and (5) development of an independent set of annual indexes from the more comprehensive data available at yearly intervals. For a detailed description of the revision and monthly and annual data beginning 1947, see the December 1953 issue of the FEDERAL R E S E R V E
BULLETIN.
SURVEY OF CURRENT BUSINESS
April 1954
Unless otherwise stated, statistics through
1952 arid descriptive notes are shown in the
195H Statistical Supplement to the Survey
S-3
1954
1953
February
March
April
May
June
-July
August
September
October
November
December
January February
GENERAL BUSINESS INDICATORS—Continued
INDUSTRIAL PRODUCTION—Continued
Federal Reserve Index oj Physical Volume 9 —Con.
A djusted— Continued
Manufactures — Continued
Nondurable manufactures— Continued
Paper and allied products
1947-49=100
Printing and publishing
do
Chemicals and allied products
do
Petroleum and coal products
do
Rubber products
do
Minerals
Coal
Crude oil and natural gas
Metal mining
Stone and earth minerals
_
_
do
do
-do
do _
do. . .
130
119
143
128
134
133
120
145
128
138
134
120
148
131
137
134
121
151
131
139
134
121
150
131
130
134
121
152
132
130
133
121
148
132
127
135
121
147
131
121
132
123
146
129
120
132
121
145
129
118
125
120
145
128
116
116
77
134
113
123
115
74
132
116
126
115
75
133
118
124
117
85
131
118
122
119
86
134
117
125
120
87
135
116
125
119
86
135
117
124
118
81
136
117
123
114
76
131
108
124
112
70
131
103
* 125
'112
69
133
101
' 127
48, 533
24, 724
12. 666
12, 058
49, 671
25, 763
50,186
49, 395
25, 816
50. 003
25, 882
13. 166
50, 398
26. 366
48, 138
25. 067
12. 730
1 2, 337
8. 998
3, 092
5. 906
48, 652
25, 379
48, 284
25,010
47, 518
24, 256
12, 681
9, 291
3, 051
6, 240
13, 982
4, 865
9,117
12,634
12, 389
9, 158
82, 000
47, 087
26, 958
20, 129
1 1, 989
6, 245
5, 744
22, 924
10, 921
12, 003
81,805
26,163
12,917
r
125
120
144
125
115
P123
p 119
"143
*>127
p 117
114
70
135
100
120
p 114
P68
p 137
46, 412
23, 864
46, 709
23, 643
11, 366
12, 277
9, 134
BUSINESS SALES AND INVENTORIES^
M a n u f a c t u r i n g and trade
justed) total t
Manufacturing, total t
Durable-goods industries
Nondurable-goods industries
Wholesale trade, total f
Durable-goods establishments __
Nondurable-goods establishments
Retail trade, total
.__
Durable-goods stores
Nondurable-goods stores
s a l e s (admil. of dol
--do
_ - do
do
do
..do
do
do
- do
do
-
Manufacturing and trade inventories, book value, end
of m o n t h (adjusted) totalt
mil. of dol
Manufacturing, total t
do
Durable-goods industries
- do
Nondurable-goods industries
do . .
Wholesale trade total f
do
Durable-goods establishmentsdo
Retail trade, totalf
Durable-goods stores
Nondurable-goods stores
--
- -- - ---do
. do
do
M A N U F A C T U R E R S ' SALES, INVENTORIES,
A N D ORDERS
Sales :f
Value (unadjusted), total
mil. of dol
Durable-goods industries
do .
Nondurable-goods industries
do
Value (adjusted) total
do
Durable-goods industries, total _
_ do
Primary metal
do
Fabricated metal products
_ _ _ do _ _
Electrical machinery and equipment. .-do
Machinery except electrical
do
Motor vehicles and equipment
do
Transportation equipment, n. e. s
do
Furniture and
fixtures
do
Lumber products, except furniture
do
Stone clay and glass products
do
Professional and scientific instruments .do
Other industries, including ordnance ..do
Nondurable-goods industries, total
Food and kindred oroducts. _
Beverages
Tobacco manufactures
Textile-mill products
Apparel and related products
Leather and leather products
_ Paper and allied products
Printing and publishing
Chemicals and allied products
Petroleum and coal products
Rubber products
Inventories, end of month:!
Book value (unadjusted), total
Durable-goods industries
Nondurable-goods industries
By stages of fabrication:
Purchased materials
Goods in process
Finished foods
13,116
26, 358
13, 398
9, 548
3, 204
6, 344
14, 280
5, 124
9, 156
12, 668
9. 155
3. 103
6, 052
14, 424
5, 154
9, 270
12,716
78, 996
45, 164
25, 328
19, 836
11, 445
5, 951
5, 494
22, 387
10, 543
79, 678
45, 673
11,844
10,526
11,929
80, 167
4(5. 160
26, 048
20, 112
11, 713
6, 007
5, 706
22, 294
26, 296
13, 703
12, 593
25, 468
13, 178
12, 290
1, 256
1,389
2 174
2, 356
939
363
767
632
379
635
26, 358
13, 398
2, 275
1, 351
1,387
2, 227
2. 431
997
367
763
585
392
623
12,647
12,960
3, 660
595
330
1, 160
871
278
711
800
1,704
2, 065
473
45, 158
25, 298
19, 860
12, 647
9, 471
3. 164
6, 307
14, 437
5,211
12,960
9,211
9,225
77, 693
44, 581
24, 760
78, 266
44, 797
9,295
3, 161
6,134
14, 514
5,304
19,821
11, 405
5, 890
5, 51 5
21, 707
10, 149
25,019
19, 778
11,488
5, 976
5 512
21,981
10, 303
11,558
11,678
24. 065
26, 758
12,344
11,721
24, 724
12,666
2,214
1,228
1,362
2 158
2,178
964
344
744
558
337
579
do
do
do
do
do
do
do
do
do
do
do._
do
12, 058
3, 368
555
324
1,128
846
266
690
770
1, 634
do
do
do
44, 858
24, 847
2,042
435
20,011
13,148
13,812
12,946
25. 763
13,116
2,226
9, 709
3, 160
6, 549
14,412
5,103
9,309
13,410
1 2, 95(5
9, 563
3, 153
6,410
14, 469
5. 1 02
9, 367
14.073
1,914
9, 1 59
81, 116
46, 485
26, 392
20. 093
81,586
(5, 223
5, 665
22, 743
10, 730
12,013
6, 259
5, 664
22, 775
10, 624
12, 151
26, 058
13, 586
12, 472
24, 700
25, 276
12, 383
12, 792
25, 816
13, 148
2.211
1 , 257
1, 437
2,156
2, 350
998
369
772
586
404
608
25. 882
25, 0(57
1,311
1,486
2,164
2,190
1, 006
365
767
627
395
633
26, 366
13. 410
2 335
1,309
1,462
2, 125
2, 381
1,032
334
815
611
416
590
12, 668
3, 631
565
305
1,283
943
256
724
819
1,672
2, 048
422
12, 716
3, 826
563
318
1, 231
912
281
739
794
1,734
2,118
444
12,95(5
1 2, 337
3, 645
617
314
1,098
891
264
735
676
1, 608
2,081
409
45, 362
25, 608
19, 754
45, 884
26, 093
46, 334
26, 339
19, 995
25,681
19, 992
11,550
5, 999
5. 551
22, 455
19,791
10,472
11,822
13,166
2,222
3,594
11,888
12,317
551
310
1,181
843
286
741
809
1,697
3, 796
570
301
1, 181
869
328
766
740
1,720
436
448
2,268
2,237
4(5, 436
26, 4(53
19, 973
46, 888
26, 788
20. 100
11,923
12,484
12.730
2,154
1,190
1, 438
2,099
2, 210
1,031
380
776
582
326
544
46, 489
26, 564
19,925
12.698
13, 246
25, 379
12.698
2,084
12, 376
9, 234
2, 982
6. 252
14, 040
5, 029
9, 01 1
47, 044
26, 987
20, 057
11,867
81 , 276
46, 909
26. 975
23, 792
23, 929
25,010
24, 256
11.993
12, 376
1,985
1,139
1,391
2, 039
6, 127
5, 803
22, 437
10, 574
11,499
12,293
11,867
12. 634
3, 836
662
315
1,031
854
266
752
707
1,640
2, 202
416
12,389
666
304
1,r 038
910
243
738
745
1, 643
2,T 062
395
3, 771
635
339
1,006
835
251
70!)
778
1,606
2,113
346
46, 529
26, 598
19, 931
19,983
46, 646
20, 034
r
r
26. 845
13, 223
13, 622
5, 763
22, 720
10, 727
19,934
11,930
12,681
26,612
81,072
11,863
12,041
6,278
2,095
3,890
46, 532
26, 549
11,580
6, 140
13, 932
4, 626
9, 306
46, 722
26, 752
19, 970
Ml,
(589
r
5, 900
5, 7X9
22, 661
10, 668
1 1 , 993
607
355
607
370
r
r
r
r
' r12, 284
8, 926
r
2, 859
r
6,
0(57
r
13, 622
r
4,
436
r
9, 186
9 , 151
••3,011
r
6, 164
14, 104
5, 005
9, 099
1,140
364
715
575
353
580
LOOS
11,576
12,550
r
2,994
1,874
1,150
1,324
2, 068
1,918
925
334
723
583
402
566
1,219
1,536
2, 1(53
2, 023
' 47, 209
24, 126
80, 692
46, 388
'r 2(5, 526
19, 862
r 11,783
r
5, 866
'5, 917
r
22, 521
r
10,688
11,833
r
T
23, 022
10,870
11,615
12,314
' 12, 152
24, 1 26
r
r
2,897
6, 237
13,932
4,710
9, 221
80, 340
46, 069
26, 132
19,937
11,850
5, 844
6, 006
22, 421
10, 584
11,837
23,011
11, 054
11, 957
23, 864
23, 643
1,645
1,076
1,349
1,902
2, 046
947
345
731
540
423
572
'r 1, 609
1,176
r
1, 328
1,611
1, 178
1, 303
1, 946
2, 005
942
306
640
576
355
504
12, 550
3, 863
572
304
1 , 040
873
267
701
774
1,601
2, 186
369
^ r12, 284
3, 802
' 626
'292
46, 947
26, 697
20, 250
T
46, 778
'r 2(5, 598
20, 180
11,576
11,580
••1,959
r
r
2, 101
1,005
r
325
r
659
' 364
'537
r 992
r
r
«• 857
'r 259
680
' 748
1,569
2, 149
11,366
12, 277
3, 784
606
289
1,031
837
271
675
727
1, 605
2,142
310
46, 307
26, 201
20, 106
do
do
do
44, 581
45, 164
46, 160
45, 673
Book value (adjusted), total
do
47, 087
46, 485
46, 888
44, 797
46, 909
47, 044
' 46, 388 46, 0(59
4(5, 722
r
24, 760
25, 681
Durable-goods industries, total „
. do
25, 019
25. 328
26, 048
26, 392
26, 788
26. 958
26, 526
26, 975
26,132
26, 987
r
3, 134
3,318
3,242
3, 308
3,382
Primary metal
do
3. 157
3, 456
3, 513
3,507
3,488
3, 388
3, 361
2, 512
2,717
2,473
2, 580
2, 607
Fabricated metal products..
do
2.815
2,914
2, 962
' 3, 012
3, 145
2, 919
3, 038
3' 131
r
3, 121
3, 305
3, 219
3, 266
3, 424
Electrical machinery arid equipment... do
3. 157
3, 425
3, 366
3,
342
3,489
3, 484
3, 440
3,
322
r
5, 524
5, 555
5, 508
5, 532
5, 525
Machinery, except electrical
._ . d o
5, (567
5, 628
5, 551
5, 690
5, 735
5, 665
5, 503
5, 647
3, 056
3,170
3, 348
3, 435
3, 420
Motor vehicles and equipment
do
3, 229
3, 476
3, 498
3,377
* 3, 482
3, 445
3, 396
3,397
2, 651
2,616
2, 642
2. 632
2, 751
2,728
Transportation equipment, ri e s
do
2, 707
2.720
r 2, 784
2, 700
2, 702
2, 769
2,714
T
656
6(52
(597
641
674
681
Furniture and fixtures _
_ . . .. do
681
660
679
642
670
661
666
r
1,017
1,041
1.049
1,045
1,096
Lumber products, except furniture
do
1, 123
1,121
1. 068
1,031
1,090
1,033
1,022
1,012
874
858
867
' 879
883
881
884
875
Stone, clay, and glass products... ... do
878
901
890
"•r 907
916
875
866
853
857
Profession;)! and scientific instruments. do
837
846
851
878
882
882
895
881
882
r
1,539
1, 549
Other industries, including ordnance. .. do
'
1,429 1,487
1,501
1,564
1.538
1,583
1, 482
1, 521
1,581
1,497
1,440
r
Revised.
*• Preliminary.
9 See note marked "t" on p. S-2.
§The term "business" here includes only manufacturing and trade. Business n ventories iis shown o n p. S-l co ver data fc>r all types of produc(irs, both fa rm and no nfarm. U nad justed
data for manufacturing are shown on this page; those for retail and wholesale trade, on PP. S-8,S-9, and S -10.
t Revised series. Data have been adjusted to n,< iv recent benchmarks; all re vis MIS prior t ( 1953 arc iivailable u pon reque st (most o f the data published in the 195 3 issue of BUSINESS
STATISTICS are now obsolete).
S-4
S U K V E Y OF CUKKEJNT 13 U SUN ESS
April 1954
1954
1953
Unless otherwise stated, statistics through
1952 and descriptive notes are shown in the
1953 Statistical Supplement to the Survey
February
March
May
April
June
July
September
August
October
December
November
February
January
GENERAL BUSINESS INDICATORS—Continued
MANUFACTURERS' SALES, INVENTORIES,
AND ORDERS— Continued
Inventories, end of month f— Continued
Book value (adjusted), total—Continued
Nondurable-goods industries, total- _mil. of dol .Food and kindred products
do
Beverages
do
Tobacco manufactures
do
Textile-mill products
- - -do
\pparel and related products
do
Leather and leather products
_ _. do
Paper and allied product^
do
Printing and publishing
_.._do--_Chernicals and allied products
do.
Petroleum and coal products
do
Rubber products
do
New orders, nct:t
Unadjusted total
Durable-goods industries
Nondurable-goods industries
_
do
do
do
19, 821
3,627
1,252
1,806
2,612
1,819
528
1,058
730
2,910
2,611
868
19, 778
24, 009
24, 513
12,416
2, 063
1,172
1,303
1,959
20, 112
3,493
3,489
1,232
1,817
2,614
1,834
550
1,051
743
1, 212
1,818
2, 631
1,890
578
1,060
745
1,222
1,811
1,242
1,804
2,693
20, 100
3,411
1,186
1,839
2,666
2,646
2,597
2,975
2,624
3,007
1,906
584
1,048
750
3, 065
1,876
562
1,024
773
3,142
2,696
880
2,744
874
2, 670
888
2,630
1,866
568
1,030
755
3,108
914
925
897
26, 349
13, 404
12, 945
25, 479
12, 959
12, 520
24, 564
12, 176
12, 388
25, 654
12, 985
12, 669
23, 832
11, 588
12, 244
25, 096
12, 520
2,201
1, 196
1,268
25, 682
12, 702
2, 093
1, 131
1,697
2, 184
25, 883
13, 101
2. 167
1,210
1,480
25, 152
12, 392
2, 390
1,012
1,303
2,042
2,084
24, 525
11. 600
1, 957
1, 073
1,582
1, 752
2, 776
2, 821
12, 980
3, 064
9,916
3,
2,
12,
3,
75, 713
72, 442
7, 436
6, 235
12, 025
10, 509
74, 896
71, 698
7, 230
6,218
12, 266
29, 775
29, 037
6, 558
3, 198
2,006
3,390
2, 955
2,894
2, 529
12, 097
12, 576
2, 879
9, 697
2,894
9, 203
76, 122
72, 850
Unfilled orders, end of month (unadj.), totalf-do
Durable-goods industries, total
_ __
do
Primary metal
do
Fabricated metal products
do__ _
Electrical machinery and equipment
do
Machinery except electrical
do
Transportation equipment, including motor
vehicles and parts
mil. of dol
Other industries, including ordnance
do
Nondurable-goods industries, total 9 _.
do
19, 992
3,522
1, 247
1,798
2,616
1,806
533
1,052
748
2,931
12, 266
11, 743
Adjusted total
- do__ _
Durable-goods industries
total
do
Primary meta1
- -- - do
Fabricated metal products
do
Electrical machinery and equipment-- -do
Machinery, except electrical--- —
do
Transportation equipment, including motor
vehicles and parts
mil. of dol_.
Other industries, including ordnance - _ _ do
Nondurable-goods industries, total
do.-_.
Industries with unfilled orders 9 - - do__ _
Industries without unfilled orders^
do
19, 836
3,570
7,408
6, 276
12, 108
10, 671
30, 110
6, 277
3, 271 !
2, 875
2, 728
12, 760
3, 061
9,586
9,699
73, 992
70, 696
73, 588
70, 095
7,020
6,977
5,790
6, 100
12, 251
10, 140
10,389
6,462
3,272
545
657
782
196
28, 823
6, 362
3,296
20, 093
3,433
2,347
2,889
20, 129
2,983
9,942
72, 720
69, 366
6,910
' 19, 862
r
3, 524
r
1,162
' 1,842
r
2, 464
r
1.872
r
581
r
1,034
r
769
19, 937
1,142
1 811
2,614
1,862
577
1, 044
768
3,140
19, 934
3,511
1,129
1,789
2. 543
1,845
570
1,050
776
3, 107
2,750
2,747
881
867
1,155
1,812
2, 513
1,901
582
1,044
752
3, 093
2, 725
868
22, 672
10, 133
12, 539
23, 235
10, 090
23, 282
20, 955
21, 448
9,830
8,930
13 452
12, 025
9,347
12,101
' 20, 842
r
8, 787
r
12, 155
21,383
9,399
13,145
22, 339
10, 139
1, 751
1, 214
1,134
1, 676
22, 661
10, 110
1, 635
1,041
1,082
1,843
22, 163
21, 594
9,631
1,666
1,089
886
1,800
22, 026
9, 567
1, 450
1,045
949
1,613
f 20, 711
r
8, 475
' 1,205
r
746
'987
r
1,378
21,854
1,882
2,114
2, 395
12, 551
2. 626
r 2, 198
12, 200
2, 636
2,370
12,486
9,564
9,925
2,331
2,201
12, 323
2, 750
70, 116
2,482
12, 925
19, 970
1,139
1,834
2,612
1,907
574
1,038
772
3,169
2,731
908
3,445
5,728
12, 286
5.609
12, 520
9,928
9,793
12, 204
9,512
67, 188
64, 188
6,103
5, 517
11, 718
9,118
28, 803
6,311
3, 493
27, 767
6, 648
3. 354
26, 559
25, 658
67,015
6, 562
20, 057
3,468
9,677
1,500
843
1,039
1,798
3,525
3,595
1,152
1,837
2,458
1,84*
568
1, 055
770
3,066
2,738
^3,067
' 2. 697
'850
850
11, 984
9. 531
1,310
917
1, 268
1,504
2,084
2,289
12,459
2.617
2,106
11, 963
2,318
9,869
9,645
9,768
' 9, 605
9,573
63, 626
60, 796
60, 789
58, 227
5 355
10, 687
8, 545
10.317
8, 156
r 56, 128
r
53, 776
' 4 729
r
4 435 I
T
10. 059
r
7 770
54, 500
52, 121
4 451
4, 145
11,279
8,785
4,798
58, 308
55, 959
5 108
4, 643
24, 338
23. 726
5, 116
23, 044
4,691
T
22, 322
21, 775
2,562
2,349
4, 461
2, 352
4,458
9,543 :
8,533
2,127
5,640
5, 052
6,569
6,074
3,101
3, 000
5,702
2,830
2,221
T
2,691
»• 1,961
12, 236
r 2, 631
r
r
9,932
7 360
9 379
BUSINESS POPULATION
OPERATING BUSINESSES AND BUSINESS
TURNOVER
r
Contract construction
Mariufacturing
-
do--_do - -
Retail trade
Wholesale trade
All other
P
t
f
V
''1,859.
2
r
do
do
do
ti n
4 205 7
r 432. 3
r
326. 6
r
741. 9
r
199 3
40 4
16.0
29. 6
77.4
11.9
24.0
do
Manufacturing
do
Retail trade
Wholesale trade
\11 other
do
- do
do
r
Discontinued businesses, semiannual totalt-.do
Contract construction
do
Manufacturing
- -- do_- _
Retail trade
Wholesale trade
\11 other
285. 0
560. 7
172. 4
25 8
16. 3
26 7
71. 1
r
98
r
T
T
T
do
do
do
900 0
BUSINESS INCORPORATIONS^ 1
Now incorporations (48 States)
number
7,943
9, 659
9,507
8, 968
8, 92G
8,703
7,487
7,433
8,267
7, 269
8, 915
691
49
86
132
348
76
739
63
85
154
361
76
693
48
86
140
344
75
697
66
70
143
344
74
817
419
SO
724
43
64
164
380
73
700
49
92
148
340
71
686
31
89
1 45
336
85
840
75
89
188
404
84
815
66
97
175
389
88
813
64
89
193
382
85
807
00
80
192
450
79
27, 273
1, 180
3, 378
8 452
9, 139
5, 124
31,082
27, 520
1.765
'<2, 789
:-! 530
32, 379
1.759
2,511 1
13.9S1 !
6,909
3,200
11,179
12,464
39. 830
1.210
2,78!)
17,139
11,282
28, 529
1,077
3, SOS
1 0, 267
33.817
8, 74S
10, 585 !
8,497-
37, 070
3, 848
4, 300
36. 795
2, 087
4', 021
29. 5!)2
3.134
14.950
2, 92." ;
,", 852
3, 777
7, 410
13,56*
11,0X3
43, 754
1,871
4, 154
23, 731
INDUSTRIAL AND COMMERCIAL
FAILURES^
i
Failures total
number
Commercial service
- . - -~ - do
Construction
.do
Manufacturing and mining
do
Retail trade
- . . .-.. - -do
Wholesale trade
do
Liabilities, total
Commercial service
Construct ion
Manufacturing and iiiinin 0 '
Retail trade
Wholesale trade . . .
_.
thous. of dol. _
do
do
do
do do
!
1, 387
3,506
12,213
10,423
3, 553
'
!_
__
:
11
145
j
1 , 286
4, 451
13, 076
9, 790
4,614
10,27,"
3, 042
i
|
T
9, 671
4, 235
4, 836
!
4,' 2 41
•
j
!
;
'
926
74
109
207
449
87
47, 774
4.341
o, 160
4,082
1 1 , 43 1
23. 043
8.623
3.23S
11,770
4.538
:
Revised.
*• Preliminary.
fRovised series. For manufacturers' inventories and orders, see corresponding note on p. S-3. Beginning 1953, data for operating businesses and business
turnover will be published on a semiannual basis; revised annual data for number of operating businesses (1929-52), new and discontinued businesses (1940-52), business transfers (1944-52),
semiannual data for operating businesses (second half 1944-52) by industry, and revisions for first three quarters of 1952 for all series as above (except transfers) arc shown in the January 1954
SVRYEV.
9 Includes textiles, leather, paper, and printing and publishing industries; unfilled orders for other nondurable-goods industries are zero.
IfFor these industries (food, beverages, tobacco, apparel, petroleum, chemicals, and rubber), sales are considered equal to new orders,
cf Data are from Dun & Bradstreet, Inc.
SUEVEY OF CURRENT BUSINESS
April 1054
S-5
1954
1953
Unless otherwise stated, statistics through
1952 and descriptive notes are shown in the
1953 Statistical Supplement to the Survey
February
March
April
May
June
July
August
September
October
November
December
January
February
COMMODITY PRICES
PRICES RECEIVED AND PAID BY FARMERS
264
249
241
214
424
256
203
275
287
264
252
247
215
424
268
209
267
291
259
246
244
213
424
267
207
233
289
263
247
242
212
426
269
206
259
286
257
246
222
204
425
267
219
298
280
260
237
218
204
426
270
193
252
268
255
232
215
205
430
278
185
207
263
257
235
219
207
452
280
204
191
251
249
229
223
194
439
275
189
198
255
249
234
229
195
433
269
205
218
263
254
238
230
205
427
260
237
224
269
259
240
233
207
420
254
222
271
268
258
237
236
208
443
258
210
233
269
277
305
284
206
274
301
276
217
270
299
263
219
277
317
256
218
267
300
255
213
280
319
261
223
276
305
265
229
276
299
275
230
266
273
282
234
263
267
288
224
269
285
282
218
277
309
274
213
277
315
267
208
264
266
261
265
269
261
204
269
257
264
270
257
260
271
248
261
271
250
262
273
249
259
270
247
258
270
246
259
270
248
260
270
250
263
271
254
264
271
255
281
282
280
280
277
279
279
277
276
277
278
282
282
94
94
92
94
93
93
91
93
90
90
91
92
91
All commodities ( U . S . Department of Commerce
index)
1935-39=100--
207.8
208.2
207.9
208.2
209,7
210.1
210. 1
210.3
210.0
208.9
209.1
209. 5
208.9
Consumer price index (U. S. Department of Labor) :
All items
1947-49 = 100..
Apparel
- -do
Food
_ _ .do
Dairy products
do
Fruits and vegetables
do
Meats, poultry, and
fish
do
113.4
104. 6
111. 5
110.7
115.9
107.7
113.6
104.7
111.7
110.3
115.5
107.4
113.7
104.6
111.5
109.0
115.0
106. 8
114.0
104.7
112.1
107.8
115.2
109.2
114. 5
104.6
113.7
107. 5
121.7
111. 3
114.7
104.4
113.8
108.3
118.2
112.0
115 0
104.3
114 1
109 1
112 7
114.1
115 2
105.3
113 8
109 6
106 6
113.5
115 4
105 5
113 6
110 1
107 7
111.1
115 0
105. 5
112 0
110 5
107 4
107.0
114. 9
105,3
112.3
110 3
109. 2
107.8
115.2
1 04. 9
113.1
109 7
110 8
110.2
do____
do
do_ _
do
do
do
do
do
do
116. 6
106.1
108. 0
121.5
119.3
112.5
107.5
129.1
115.8
116.8
106.5
108.0
121.7
119.5
112.4
107.7
129.3
117.5
117.0
106.5
107.8
122.1
120.2
112.5
107.9
129.4
117.9
117. 1
106.6
107.6
123.0
120.7
112.8
108.0
129.4
118.0
117.4
106.4
108.0
123 3
121.1
112.6
107.8
129.4
118.2
117.8
106. 4
108. 1
123.8
121.5
112.6
107. 4
129. 7
118.3
118 0
106.9
107 4
125 1
121 8
112.7
107 6
130.6
118 4
118 4
106.9
108 1
126 0
122 6
112 9
107 8
130.7
118 5
118 7
107.0
108 1
126 8
122 8
113 2
108 6
130 7
119 7
118 9
107. 3
108.3
127 3
123 3
113.4
108 9
130 1
120 2
118 9
107. 2
108. 1
127 6
123. 6
113.6
108. 9
128. 9
120. 3
118.8
107.1
107 2
127 8
123 7
113.7
108 7
130.5
120 3
118 9
107.5
107 2
127 9
124 1
113.9
108 0
129. 4
120.2
U . S . Department of Labor indexes:
All commodities
1947-49=100..
109.6
110.0
109.4
109.8
109.5
110.9
110.6
111.0
110 2
109.8
110.1
'110.9
110.5
Farm products
- do
Fruits and vegetables, fresh and dried- -do
Grains
do
Livestock and live poultry
__do _ _
97.9
102. 2
93.1
91.2
99.8
105.8
94.7
91.7
97.3
106. 9
93.8
87.5
97.8
105.4
93.4
91.7
95.4
109.9
84.2
86.8
97.9
94.7
85.4
95.9
96 4
98.0
86.5
88. 1
98 1
96.0
88.3
90 6
95 3
94.2
87 9
82 0
93 7
94.2
89.3
78.4
94.4
89.8
90. 6
83. 9
'97 8
91. 2
91.3
91.8
97 9
89.7
91.6
91.3
Foods processed
do
Cereal and bakerv products
do
Dairy products and ice cream
do
Fruits and vegetables, canned and frozen
1947-49 = 100. _
Meats poultry and fish _
do
105.2
107.6
110.9
104.1
108.9
109.7
103.2
109.2
108.5
104.3
109.0
107.9
103.3
107.9
107.7
105. 5
108.5
110.0
104 8
108 4
110.7
106 6
110 8
111.3
104 7
119 o
112.7
103 8
112 6
113.9
104 3
112.2
111.3
106 2
112 4
109.4
104 8
112.7
107.4
105.5
98.2
105.1
91.2
104.4
89.2
104.0
93.8
103.7
91.6
105.0
97.0
104.7
93.6
104.7
97 4
104.9
88 9
104.7
86 2
103. 9
89.7
103.8
9(5.4
102.9
92.9
113.1
103.6
113.1
91.4
52.7
112 7
110 5
113.4
104.2
113.9
91.6
59.0
112.8
110 5
113.2
105.5
117.0
93.0
55.9
113.2
110.5
113.6
105.5
118.0
93.1
49.9
112.9
110.8
113.9
105.6
119. 2
93.1
46.6
110.6
110.8
114.8
106.2
120. 2
93.6
46.7
113.8
'110.7
114.9
106.3
120.2
93.5
46.9
113 8
110,7
114 7
106.7
120 0
93.5
51.1
113 0
111.0
114 6
106 7
119 5
93.5
53.3
112 9
112.1
114. 5
107.2
119. 2
93.5
58.0
112 9
112.7
114. 6
107. 1
118.6
93.8
58.6
113.9
112.7
r
114.6
107.2
118.4
93. 9
Mil. 2
114 0
112. 8
114.4
107.3
118.1
94. 0
63. 5
114 0
112.8
Fuel, power, and lighting materials
do.._.
Coal
do
Electricity
do
Gas
do
Petroleum and products
.
do
Furniture and other household durables
1947-49 = 100.Appliances, household
do_._Furniturc, household. __.
do _
Radios
do
Television sets
. do_-
108.1
115.9
100.7
109.5
107.9
108.4
114.4
100.7
109.5
109.0
107. 4
111.2
98.0
109. 5
109.3
107. 1
110,8
97.4
108.2
109.4
108.3
111.2
98.5
108.2
111.1
111.1
111.8
98.5
106.1
116.8
111.0
111.7
99.1
105.7
116.5
110.9
112 3
98.0
106.0
116.5
111.2
112 5
98.5
106.6
116.6
111.2
112.5
99.6
106. 3
116.3
111.1
112. 5
100.7
109. 6
114.9
r
110.8
rill.9
100. 7
r
111.8
114.2
110.3
111.0
100. 7
111.8
113. 5
112.9
107.4
113.4
95.5
75.6
113.1
107.9
113. 6
95.5
74.9
113.9
108.0
113.8
94.9
74.9
114.1
108.1
114.0
94.9
74.9
114.3
108.1
114.1
95.4
75.0
114.7
108.8
113.8
95.0
74.3
114.8
108.9
113.8
95.0
74.0
114.9
109.1
114.2
94.8
74.2
114.8
109.0
114.2
94.8
74.2
114.9
109. 0
114.1
94.3
74.2
115.0
109. 1
114.1
94.3
74.0
115.2
109. 6
114.2
96. 1
73.5
115.1
109. 7
114.0
96.1
73.6
Hides, skins, and leather products
Footwear
Hides and skins
Leather
Lumber and wood products
Lumber
98.0
112.1
66.5
91.9
121.1
120.3
98.1
112.1
64.8
93.5
121.7
120.9
97.9
111.5
66.4
92.7
122.2
121.5
100.4
111.5
74.8
97.3
121.8
121.0
101.0
111.7
76.3
98.0
121.5
120.7
100. 0
111.7
73.4
96.1
121.1
120.2
99.9
111.8
74.6
95.0
120. 4
119.3
99.7
111.8
74.2
94.5
119.2
118.3
97.1
111.7
64.4
90.4
118.1
117.2
97.1
111.8
64.3
90.4
117.3
116.3
95.6
111.8
57.7
88.7
117.4
116.4
' 95. 3
'111.9
56. 8
88.1
117.0
'115.9
94. 8
111.9
55. 4
87.4
116.7
115.5
121.8
122.2
127.1
119.9
120.0
122.0
122. 3
128. 6
121.3
118. 9
122.4
122.4
129.1
122.6
118.6
122.9
122.6
129. 4
124.2
118.6
123.4
122.7
130.8
124.8
118.6
123.7
122.3
130.5
125. 6
118. 6
124.0
122.3
130.9
126.2
118.6
124.1
122.4
131.0
126. 5
118.5
124.2
122.5
131. 1
126. 6
118.5
124.3
122.5
131. 1
126.8
118.5
'124.4
122.7
131.2
126. 8
'118.9
124.4
122.7
131.1
126.8
118.9
Prices received, all farm products§
1910-14=100.,
Crops
- -do
Food grains
do
Feed grains and hay
- do_-_Tobacco
__do
Cotton
do_. _
Fruit
do__-Commercial vegetables, fresh market
do
Oil-bearing crops
do.
Livestock and products
Meat animals
Dairv products
Poultry and eggs
do
do
-do
do
-
Prices paid:
All commodities and services
do
Family living items
- - __ _ do
Production items
do
All commodities and services, interest, taxes, and
wage ratest
1910-14 — 100
Paritv ratio 9 t
do
RETAIL PRICES
Housing
Gas and electricity
Housefurnishings
Rent
Medical care
Personal care
Reading and recreation
Transportation
Other goods and services
•
-
1
115 0
104.7
112 6
109 0
108 0
109. 7
WHOLESALE PRICESc?
Commodities other than farm products and
foods
1947-49 = 100
Chemicals and allied products .
do
Chemicals industrial
do
Drugs, Pharmaceuticals, cosmetics. ...do
Fats and oils, inedible
do
Fertilizer materials
do
Prepared paint ©
_ _ . _ _ _ _ do .
r
do
_ _do
do
do
_ do _
do
121.6
Machinery and motive products
_ _do _
121.8
Agricultural machinery and equip_._do.-_.
' 126. 2
Construction machinery and equip. _do--._
119.7
Electrical machinery and equipment-do
119.9
Motor vehicles...
do
Revised.
* Index on base previously used (1935-39=100) is
192.3.
of this
oil-1 . . . . , ,
on p. 24 of this issue of the SURVEY.
9 Ratio of prices received to prices paid (including interest, taxes, and wage rates).
cfFor actual wholesale prices of individual commodities, see respective commodities.
©Wholesale price index for paint and paint materials, published in issues of the SURVEY prior to March 1954, has been discontinued.
SURVEY OF CURRENT BUSINESS
S-6
Unless otherwise stated, statistics through
1952 and descriptive notes are shown in the
1953 Statistical Supplement to the Survey
April 1954
1953
February
March
April
May
June
July
19 54
August
September
October
November
Docernbor
January
February
COMMODITY PRICES—Continued
WHOLESALE PRICESa*— Continued
U. S. Department of Labor indexes: — Con.
Commodities other than farm prod., etc. — Con.
Metals and metal products
1947-49=100. _
Heatins equipment
do
Iron and steel
do
Nonferrous metals
do__ _
Nonmetallic minerals, structural
do
Clay products
__ do
Concrete products
do
Gypsum products
do
Pulp paper and allied products
Paper
_- ._
Rubber and products
Tires and tubes
Textile products and apparel
Apparel
- __
Cotton products
Silk products
-. ._
Synthetic textiles
Wool products
124.6
113. 9
127.5
124.4
114. 6
124.0
112.8
117.7
125. 5
113. 9
127.7
131. 5
115. 1
124.3
112.8
118.3
125.0
113. 8
127.7
128.2
116.9
124 6
114. '2
122. 1
125.7
114.4
128.9
126. 6
117. 2
124.7
115.5
122. 1
126. 9
114. 6
130. 9
127.6
118. 1
125.1
115. 5
122.1
129.3
115. 1
135. 7
126. 4
119.4
131. 1
115.6
122.1
129.4
115 6
136.2
124.5
119.6
131.4
116. 1
122. 1
128.5
115 8
134 6
1 22. 8
120 7
132.0
117.4
122.1
127.9
115 8
133. 4
122. 1
120 7
132. 0
117.4
122.1
127.9
115 8
133 6
122.3
120 8
132.1
117.4
122.1
127.5
115 5
132 8
122. 1
120 8
132.1
117 2
122.1
M27.2
115 3
132 0
121 5
r
120 9
r
131 9
117 2
122.1
126.2
115 1
131 0
119 8
121 0
131 9
117 6
122 1
do
do
do
- do
do
do _ .
do
do
do
do
115. 3
124.9
126.2
126.3
98.5
99.9
96.1
141.4
88.3
111.5
115. 1
124.9
125. 7
12fi.3
97.5
99.6
93.1
141.4
87.9
111 9
115. 3
124.9
124.8
126.3
97.4
99.9
92.9
131.6
88.0
111.3
n 5. 4
115.8
124.7
125. 0
126. 3
97.4
99.4
03.4
134. 7
87. 5
111.6
115.8
125. 1
124.6
126.4
97. 5
99.3
94. 1
134.7
87.5
111.7
116 2
125.9
123 5
125. 1
97 5
99.3
94 1
134.7
86.7
111.8
116 9
126. 5
124 0
126.4
96 9
98.5
93 7
134.7
86 7
111.2
117 5
126.6
124 2
130. 1
96 5
98.7
92.4
135. 8
85 9
111. 6
117 3
126. 8
124.3
130. 1
96 2
98.7
91 6
136. 5
85 2
111.5
117 1
1 26. 8
124 8
130.1
95 8
97.9
90 9
139. 3
85 5
112. 1
T
124.9
125. *
126.3
97.6
99.9
93.3
133. 0
87.4
112.0
111.0
117 1
126 8
124 6
130 3
95 2
98 9
88 7
138 6
85 4
109 0
do
do
do_-
111.9
110. 1
112.0
114.8
110.0
124.0
114.8
110. 0
124.0
114.8
110.0
124.0
114.9
110.0
124.0
115.6
110.0
124.0
115.6
110.0
124 0
116 2
111.2
124 0
118 1
114.9
124 0
118 1
114.9
124 0
118 1
114.9
124 0
118 2
115.0
124 0
118 0
114 6
124 0
91.2
88.2
89.7
90.9
88.0
89.5
91.4
88.0
89.7
91.1
87.7
89.2
91.3
87. 3
88.0
90.2
87.2
87.9
90.4
87 0
87.6
90.1
86 8
87.9
SO 7
86 7
88 0
91 1
87 0
89 3
90 8
87 0
89 0
90 2
86 8
88 4
i 90 5
i 87 0
i 88 8
Tobacco mfrs and bottled beverages
Beverage^, alcoholic
Cierarettes
117 0
126.8
124
8
T
130. 3
T
96
1
r
99. 1
T
90 4
142.1
r 85 4
PURCHASING POWER OF THE DOLLAR
As measured bv —
Wholesale prices
Consumer prices
Retail food prices
1947-49 = 100
do
- do. _ _
r
CONSTRUCTION AND REAL ESTATE
CONSTRUCTION ACTIVITY*
N€W construction total
mil. of dol
Private total
do
Residential (nonfarm)
_ do
New dwelling units
do
Additions and alterations _
__do
Nonresidential building, except farm and public
utilitv. total
mil. of dol
Industrial
_
do_ _ _
Commercial
_
do
Farm construction
__do
Public utility
-.
- do._ Public total
Residential
_ __ - _ ..
Nonresidential building
Military a n d naval
__ _ . - ___
Highway
Conservation and development
Other types
do
do_
do
do.
do
do.. do
2, 287
2,527
2,758
2, 947
3, 209
3,282
3 317
3 295
3 211
2 988
2 661
2 428
2 317
1, 574
758
675
64
1,729
863
770
74
1,872
964
850
94
1,991
1,012
885
105
2, 160
1, 123
990
110
2, 194
1,126
990
112
2 202
1,113
980
110
2 177
1,088
960
103
2 129
1,066
940
101
9 052
1.024
905
94
1 908
952
850
78
1 717
830
740
67
1 638
766
680
64
433
204
111
100
275
430
198
114
108
320
427
192
114
120
352
449
190
128
138
380
477
184
152
148
399
490
176
166
155
410
493
174
169
158
427
507
177
176
144
428
511
177
179
119
423
523
177
192
100
396
505
176
182
88
354
486
179
164
87
307
476
177
158
89
300
713
48
323
106
110
56
70
798
47
359
111
140
65
76
886
49
370
113
200
72
82
956
50
371
115
260
75
85
1 , 049
50
380
120
330
SO
89
1,088
46
373
119
375
79
96
1, 115
44
371
119
405
75
101
1 118
46
376
116
400
72
108
1,082
46
37?
105
390
68
101
936
42
355
101
280
63
95
753
3D
336
92
145
56
85
711
35
341
76
125
51
83
679
34
339
62
115
45
84
CONTRACT AWARDS
Construction contracts awarded in 37 States (F. W.
Dodge Corp.):
34, 561
52, 544
50 04V)
53. 31)4
r,5, 435
40, 069
35 777
46 564
42 586
50, 484
38 361
41 379
40 787
Total projects
number
Total valuation
_
thous. of dol 1,021,310 1,347.518 1, 741, 542 1, (506.091 1, 115,509 1, 793, 342 1, 414,408 1,741,673 1, 892. 388 1,394,050 1 299 764 1, 1 51.987 1,221,260
610.348
350, 709
416, 577
672, 838
372, 004
478, 81 4
553, 760
724, 682
532, (164
435, 799
363. 0^7
689, 264
483,160
Public ownership
- ... d o _ 670, 601
930. 941 1 , 068, 701 1,052,331
743, 505 1, 182, 994 882, 344 1,016,991 1, 203, 124
820, 950
788, 900
785, 461
910, 890
Private ownership
._ _ _ .
do
Nonresidential buildings:
Projects
Floor area
Valuation
Residential buildings:
Projects
Floor area
Valuation
...
Public works:
Projects
Valuation
Utilities:
Proiocts
Valuation
number
thous. of sq. f t _ .
thous. of dol
3, 529
31.115
374, 321
4, 760
35 566
449,175
5, 416
44. 455
680. 330
5, 728
45, 640
582, 001
5, 020
35, 185
459, 230
6, 209
57, 374
764. 393
5, 267
40. 292
545, 851
4 675
38, 407
783, 266
5,316
52. 435
758, 130
4, 199
40, 368
611,857
3, 804
36, 450
540, 338
3 661
33, 937
473, 077
3 871
32. 25!)
468,712
number
thous of sq ft
thous. of d o l _ _
?•! 960
46, 658
418, 568
44 115
65, 393
605, 200
47 761
70, 602
673, 887
44,317
66 655
637, 721
32 745
49 797
463, 084
44, 227
70. 206
653, 407
38 554
53, 242
507, 560
35 712
52, 470
507, 430
42 610
65, 908
634, 582
35 668
50 247
484, 168
30 4P'>
46,614
433, 50(;
33 449
48 156
462. 482
35 621
5"?' 706
508. 773
135, 326
1,247
219, 157
1, 849
293, 569
2, 094
288, 783
1.874
138, 257
2. 336
269, 600
2,335
304, 917
1,796
269, 625
1, 693
270, 064
1.177
239, 827
1 , 1 53
226, 634
951
134, 304
1 007
191,855
294
93, 095
362
73, 986
409
93, 756
405
97, 526
430
54, 938
532
105, 942
408
56, 080
403
181,352
430
229, 612
335
58, 198
328
99, 292
307
82, 124
288
51, 920
151
163
173
182
180
186
177
176
205
210
179
179
195
194
161
164
197
192
169
174
189
178
172
175
216
183
205
184
221
181
218
180
220
178
230
183
201
170
2?4
176
168
151
208
177
number
... thous. of dol
number
_ thous. of dol . _
Value of contract awards (F. R. indexes):
Total, unadjusted
_ 1947-49 = 100
Residential, unadjusteddo__
Total, adjusted
do
Residential, adjusted
...
.
do
Engineering construction:
Contract awards ( E N R ) §
thous. of dol.. 1, 023, 021 1, 120, 978 1, 473, 244 1, 083, 795 1,318,070 1, 262, 992 1,111,213 1,116,572 1,469,252
Highway concrete pavement contract awards:©
Total
thous. of sq. yd._
Airports
_
do
Roads
do
Streets and alleys
do
3, 509
495
1,481
1, 533
7, 006
1. 652
3, 215
2,140
9, 537
1, 675
4, 590
3, 273
8, 333
413
5, 237
2,682
5, 698
278
3, 315
2, 105
8, 658
973
4, 232
3, 453
7,810
1, 056
3, 798
2, 956
7,187
1,102
4, 066
2, 019
6, 094
822
3, 691
1, 582
794,315 1,510,921
r
]
Revised.
Indexes on base formerly used (1935-39 = 100) are as follows: Measured by—wholesale prices, 47.4; consumer prices, 52.0; retail food, 44.0.
awarded in prior months but not reported.
cfFor actual wholesale prices of individual commodities, see respective commodities.
{Revisions for 1950-July 1952 will be shown later.
§Data for April, July, October, and December 1953 are for 5 weeks; other months, 4 weeks.
©Data for April, July, and September 1953 are for 5 weeks: other months, 4 weeks.
2
3,258
100
1 774
1.384
161
154
195
185
167
175
192
196
766, 320
766, 601
4, 726
4, 036
1 748
1 299
1 85°
1 007
L125
l' 729
Data include some contracts
2
2
2
6,605
148
4 336
2, 121
T
r
r
T
SURVEY OF CURRENT BUSINESS
April 1954
S-7
1954
1953
Unless otherwise stated, statistics through
1952 and descriptive notes are shown in the
1953 Statistical Supplement to the Survey
February
March
April
May
June
July
August
September
October
November
December
January
February
CONSTRUCTION AND REAL ESTATE—Continued
NEW DWELLING UNITS AND URBAN
BUILDING
New permanent nonfarm dwelling units started
79, 200
105, 800
(U S Department of Labor)
number _
Urban building authorized (U. S. Dept. of Labor):
44, 857
65, 421
New urban dwelling units, totalt
number
40. 199
56, 153
Privately financed totalt
do
31, 401
44, 648
Units in 1-family structures!
do
2,817
3,360
Units in 2-family structures j
do
5,981
8,145
Units in multifamily structures^
do
4,658
9,268
Publicly financed total
do
Indexes of urban building authorized:
r
98.1
142. 8
Number of new dwelling units
1947-49=100.- 123.6
170.0
Valuation of building total
do
128.0
193.4
New residential building
- do__ _
« 123.7
148.7
New nonresidential building
do
131.4
« 106.9
Additions alterations and repairs
do
111, 400
108, 300
104, 600
96, 700
93, 200
95, 100
90, 100
81, 500
68, 000
66, 000
60,196
57, 222
46, 074
3,524
7,624
2,974
55, 199
52, 742
42, 478
3,296
6,968
2, 457
54, 064
51, 732
41,362
2,635
7,735
2, 332
47, 267
46, 697
37, 015
2, 906
6,776
570
45, 621
44, 539
35, 689
2,254
6,596
1,082
46, 149
42, 900
33, 626
2,399
6,875
3,249
43, 381
43, 143
34, 536
2,676
5,931
238
35, 707
34, 150
27, 807
2,098
4, 245
1,557
32, 753
31, 987
24, 156
2,028
5,803
766
' 32, 735
30,921
23, 056
1,461
6,404
133.7
183.4
181.4
200.9
151.2
120.7
164.4
164.4
172.5
145.9
118.0
160.0
160. 3
159.8
159.5
103.3
159.7
144.9
184.5
158.0
99.6
144.9
141.0
154.4
137.9
100.9
144.7
143.3
144.7
149.6
94.8
141.8
133.8
156.6
138.0
78.5
121.5
109. 7
145.8
109.7
71. 7
109. 9
' 96. 2
r
137.7
'97.4
73.6
108.4
95.2
132.2
93.1
85. 1
114. 2
114.3
121.4
97.3
r
r
' 1, 814
i 73, 000
38, 916
37, 784
29, 705
1,882
6, 197
1, 132
CONSTRUCTION COST INDEXES
Department of Commerce composite! 1 947-49 =100- _
Aberthaw (industrial building)
1914=100
American Appraisal Co., The:
Average 30 cities
1913 = 100.
\tlanta
- - do
New York
do -_
San Francisco
--do
St Louis
_.do .Associated General Contractors (all types). .do
E. H. Boeckh and Associates:^
Average, 20 cities:
Apartments, hotels, and office buildings:
Brick and concrete., U. S. avg. 1926-29=100-.
Brick and steel
-- - -do
Brick and wood
do
Commercial and factory buildings:
Brick and concrete
- -- -do
Brick and steel
do
Brick and wood
- do
Frame
do
Sleel
do
Residences:
Brick
do
Frame
- .do. _ _
Engineering News- Record :d*
Building'"
1947-49 = 100-^
Construction
do
Bu. of Public Roads — Highway construction:
Composite, standard mile
1946=100..
120.7
120.8
383
120.8
121.1
122.1
385
123.1
123.1
123.1
392
122.8
122.9
123.0
392
122.4
121.8
567
611
574
523
559
398
569
614
579
525
561
399
572
614
587
525
564
401
572
616
592
524
568
402
573
616
592
526
568
411
580
639
601
526
574
411
583
639
601
526
574
416
583
639
601
521
574
417
584
640
604
524
572
418
585
641
609
525
576
418
585
641
609
525
576
418
584
641
623
522
576
422
585
641
624
522
576
420
246.5
245.3
253.9
247.3
245.9
254.3
247.7
246.2
254.6
249.2
247.4
255.5
251.3
249.6
257. 1
254.2
252.2
259.0
254. 9
253.0
258.7
255.8
253. 5
258.3
255.6
253.2
257.3
256.0
253. 7
257. 4
256. 3
253. 8
257. 1
254. 9
251.9
255.2
254. 3
250. 9
253. 7
251.1
248.9
250.4
256.4
232.5
252.6
249.2
250.8
256.6
233. 1
253.2
249.5
251.3
256.6
233. 3
255.2
251.0
252.3
257.4
234. 2
257.5
254.7
254. 0
259. 2
239. 1
260.5
257.4
255. 8
261.2
241.2
261.0
257.8
256.0
260. 0
241. 6
262.0
258. 7
256. 0
259. 0
242.3
261.9
258. 6
255. 2
257.6
242. 5
262.2
258. 9
255. 3
257. 8
242.8
262. 5
259. 1
255. 1
257.2
243.0
261.4
257.9
253. 5
254.7
241.9
260.4
257. 3
252. 5
252. 5
241.3
254. 3
250.8
254. 8
251.2
255.1
251.4
256. 0
252.0
257. 4
253. 5
259.4
255. 4
259.0
254. 6
258. 8
254. 1
257.8
252. 9
257. 9
2.53. 0
257.7
252.6
255.7
250. 5
254. 2
248. 3
125.7
129. 8
126.1
130.3
126.1
130. 2
126. 1
131.1
128.7
133. 5
129.2
135. 2
129.0
134.9
129. 0
135.0
129.0
135.1
128. 9
135. 0
129.2
135. 5
129.4
135. 7
129. 3
135. 5
133.2
139.4
133. 9
131.8
CONSTRUCTION MATERIALS
Production of selected construction materials, index:
Unadjusted
.
1939 = 100__
Adjusted
- .. _ do . -
143.1
173.4
161.5
170.9
172.2
173.2
167.3
158. 1
176. 1
164. 6
174.0
163.5
177. 5
156. 8
178. 6
166. 1
185.7
167.6
159. 6
161.0
* 146. 7
p 166.0
REAL ESTATE
Home mortgages insured or guaranteed by201, 159
193, 370
187, 078
185, 610
Fed. IIous. A dm.: Face amount
thous. of dol.. 189, 690
203, 130
193, 071
185, 545
193, 538
173,057
172,353
183, 44.3
227,910
241, 928
215, 950
235,113
229, 347
Vet A din : Face amount
_ do _ _ 274, 218
247, 905
291, 656
309, 429
284. 905
252, 433 247, 561
Federal Home Loan. Banks, outstanding advances
611
627
626
718
644
to member institutions
mil. of dol
700
746
819
865
801
751
New mortgage loans of all savings and loan associa639, 133
677, 941
733, 216
690, 277
706, 631
757, 569
tions, estimated total
thous. of doL. 523, 210
684, 245
688, 142
585,915
583, 538
494, 859
By purpose of loan:
205, 584
164, 177
225, 896
241,284
231,076
236, 513
Home construction
do
217,925
218, 785
208, 137
190,304
187, 422
151,935
222, 353
288, 443
266, 289
295, 337
327, 046
355, 316
339, 95(5
Ho me purchase
do
328, 453
265, 424
318, 359
258, G41
217, 119
62, 308
52, 694
60, 425
58, 627
59, 961
Refinancing
do
58, 476
51,969
52, 094
50, 671
48, 324
45, 705
47, 548
20, 253
26, 062
25, 121
27, 643
27, 307
Repairs and reconditioning
do
27, 043
27, 438
27, 0,59
19,451
27, 204
19, (572
15, 992
77,618
77, 115
79, 831
63, 733
76, 994
A.11 other purposes
do
69, 343
80, 221
71, 845
69, 780
65, 028
69, 479
62, 265
Now nonfarm mortgages recorded ($20,000 arid
under), estimated totaL.
thous. of dol__ 1,391,203 1,626,602 1, 708, 623 1,698,634 1, 709, 259 1, 797, 700 1, 709, 392 1,728,508 1, 745, 841 1, 548,615 1 , 622, :;'2o 1, 372, 242
13.2
14.0
13.4
12.8
13.0
Nonfarm foreclosures, adjusted index- 1935-39 = 100-14.8
14.2
14.2
13.6
13.1
14.7
72, 706
67, 362
83, 471
67, 644
64, 239
74, 93S
Fire losses
thous of dol
107, 713
68, 551
68,613
(58, 064
83, 440
Hr>,493~
154, 255
268, 1 44
677
539, 359
176, 074
219, 846
54, 959
19,314
69, 166
78, 928
DOMESTIC TRADE
ADVERTISING
Printers' Ink advertising index, adjusted:!
Combined index
.1947-49 = 100
Business papers
do
Magazines
_
_ _
do
Newspapers
do
Outdoor
_
do
Radio (network)
do
Television (network) 9
1950-52 = 100
137
161
120
147
128
r
65
' 146
157
162
133
160
138
T>9
r
169
158
161
135
154
135
r
69
r
172
161
162
136
158
138
r
T
66
181
162
161
139
157
134
T
r
68
187
167
159
133
160
142
r 77
r 226
r 155
r 164
r
121
r 15Q
r 136
r 73
r 187
164
164
132
167
136
r 71
r 185
166
162
140
16°
140
T
66
r 206
167
183
137
160
145
T g7
r 211
]g9
IP i
168
135
164
153
138
162
144
r 69
T 916
166
1 ^R
1 orj
i\A
''25
Tide advertising index, unadjusted. .-1947-49 = 100..
134.4
164.9
171.6
174. 6
158.6
126. 6
124.8
161.8
188. 8
183.3
146. 4
130. 3
146.7
r
Revised.
v Preliminary.
1 Data for March 1954, 97,000.
^Revisions for dwelling units authorized for January-July 1952 will be shown later. Minor revisions back to 1915 for the Department of Commerce construction cost index are shown in
*he May 1953 Construction and Building Materials Statistical Supplement.
§ Copyrighted data; see last paragraph of headnote, p. S-l.
cf'Data reported at the beginning of each month are shown here for the previous month.
t Revised series. Data reflect the adoption of a more recent comparison base (except for television) and adjustments of the radio and television components to cover only the network portion cf these media. Revisions for January 1954 follow: Combined index, 138; business papers, 158; magazines, 124; newspapers, 149; outdoor, 132; radio, 66; television, 152. Revisions prior to
Januarv 1954 will be shown later.
9 Notice that the base for television differs from that of other media.
« Revised indexes for January 1953: New dwelling units, 84.8; total valuation of building, 108.1; new nonresidential building, 102.8; additions, alterations, and repairs, 100.7.
SUEVEY OF CUREENT BUSINESS
S-8
Unless otherwise stated, statistics through
1952 and descriptive notes are shown in the
1953 Statistical Supplement to the Survey
April 1054
1953
February
March
April
May
June
1954
July
August
September
November
December
January
13 829
979 1
3, 901
310
287
3,101
338
1,429
1,271
2,214
13, 667
1 034
3 658
249
222
2, 988
461
1 399
1 331
14, 185
896
2,324
284
255
3, 256
539
1,482
1 , 353
2,185
13 221
772
3, 685
251
233
2, 992
641
1 282
1,182
2,184
69, 846
5 071
5 405
2, 1 93
7 555
9 599
3 888
47, 531
3, 725
2,617
1, 094
5, 109
7 035
4, 165
38, 847
1 971
4, 657
1, 741
4 9?0
6 400
1.287
2,975
854
1 169
2 638
' 896
1 211
October
™£"
DOMESTIC TRADE—Continued
ADVERTISING— Continued
Radio advertising:
Cost of facilities, total
thous. ofdol Automotive incl accessories
do _
Drugs and toiletries
- do
Electrical household equipment
do
Financial and insurance
do
Foods, soft drinks, confectionery
do
Gasoline and oil
do
Soap cleansers etc
do
Smoking materials
do _.
All others
. _ _ _ _._do
t
4,403
14, 218
508
4,268
385
223
14, 107
511
4,288
2,079
- do
do
do _ _
- do
do do
do
50, 682
3, 271
65, 645
65, 525
6, 135
6, 068
8, 758
2,314
6,199
3, 343
7,018
9, 653
2, 606
2,630
57, 876
3.771
5, 894
3, 498
7, 150
8,016
2, 452
do
do _ . _
2,115
1 555
3, 025
1, 272
1, 388
14, 074
4, 675
2, 551
3,618
1,699
1,444
16, 954
5, 614
4,178
4, 079
1,711
1,260
16, 844
5, 501
3 791
3. 996
1, 940
1, 700
17, 308
thous. of lines _
4,251
4,991
4,699
do __
- - - _ do . _
- - do
- -do _do
do _ _
do _ - .
186, 115
49, 479
136, 636
231, 721
58, 456
173, 264
10, 877
3,017
do
Soaps cleansers, etc
-- -
All other
Linage total
do
4,744
2,099
8,720
2,377
26, 537
99, 001
5,884
33,812
125, 559
3,607
402
1, 331
1, 415
377
236
13, 247
557
4,129
433
238
2,357
tol
Newspaper advertising:
Linage total (52 cities)
Classified
Disnlav, total
- -- --Automotive
Financial
General
Retail
14, 662
521
349
234
3, 558
454
1,324
1, 463
Household equipment and supplies
t ' 1
397
3,846
329
203
3,179
409
1,118
1,291
1,890
Magazine advertising:!
Cost total
Apparel and accessories
Automotive incl accessories
Building materials
Drugs and toiletries
Foods soft drinks confectionery
Beer wine liquors
T d
12, 661
3,550
372
1, 238
1. 420
2,115
3,047
386
1,372
1, 370
1,715
12.226
11,707
3,684
3,363
2,985
2,690
607
435
226
679
366
290
12,145
739
3, 466
408
291
2,666
3,935
412
1,335
992
1,550
396
1, 304
876
1,742
345
1,368
929
1,933
37, 505
932
4, 265
1,832
5, 744
6, 179
1,809
42, 740
60, 152
7,110
72, 670
6,419
7, 433
1, 402
2,062
10,010
4, 570
2 087
3,891
1,615
1 677
13, 252
2,117
647
2, 607
1 , 073
1 191
9,109
1,592
1 501
2, 986
1, 165
1,379
10, 071
3, 788
3, 077
3, 678
1, 300
1, 581
1 5, 793
4 596
4 640
1,661
1 754
18, 753
3 874
3 826
4 ( )9 f )
1,446
1 603
20, 386
1 904
3 277
618
1 702
13, 310
11,102
4, 445
3,360
3,205
4,136
4,965
5,230
4,406
3, 161
3, 655
4, 131
233, 487
58, 194
175, 292
12, 535
2,910
35, 090
124, 758
244, 446
62, 385
182, 061
13, 493
2, 549
36, 191
129, 828
215, 965
56, 330
159, 635
13, 550
2,691
187,997
198,647
219,558
11,581
3,074
11,417
241, 346
50, 718
190, 629
12, 579
2 789
37, 773
137, 488
224 299
43, 297
181, 001
2 897
27, 608
140, 449
182, 932
46, 054
136. 878
10, 192
4.071
22. 626
99, 989
180 732
44. 499
136. 233
99 240
457
26 573
97 963
6, 946
128, 270
6, 385
117, 261
6,657
126,017
5, 995
6, 669
125, 106
6.112
116. 272
4,593
3,832
6, 425
8, 230
2, 625
67, 606
5, 536
6,400
4,340
6, 572
7,831
31,171
112,223
4,300
4, 977
1,881
5,429
6,056
4,484
3,428
5,856
5,770
3, 604
7,915
3, 126
4,985
53, 368
134, 629
56, 553
142, 095
54, 175
165, 383
244, 370
55, 833
188, 537
24, 531
95, 442
2,021
23, 034
105, 623
2,515
31, 684
119, 275
2, 776
39, 186
132, 263
11,910
14,312
10,018
POSTAL BUSINESS
Money orders issued (50 cities) :
Domestic:
Number
Value
thousands
-- thous. of doL
6,423
120, 178
7,928
150, 315
6,299
119, 269
5,856
117, 247
6,281
122,917
6, 556
119,218
113,791
PERSONAL CONSUMPTION
EXPENDITURES
Seasonally adjusted quarterly totals at annual rates:
"
A A ^hilo 'and mrts
F
f
1 } iqpliolrl pnnimnent
Other durable goods
Nondurable goods total
do
do
do
do
Food and alcoholic beverages
do
Semidurable housefurnishings
Tobacco
do
do
Services total
Household
operation
Housm0"
do
do
do
"Rp roTti m
do
Transportation
do
227.7
230 4
231.0
230 0
30.2
13.4
12 4
4.4
30.7
14 3
12 1
4.4
30. 4
13.8
12.3
4.3
29
19
H
4
1
q
Q
3
121.2
20.9
74.2
6.2
2.0
5.2
12.8
122.1
20 9
74 5
6 3
21
5.4
13.0
121.3
19.9
74.5
6.5
2.2
5.2
12.9
120
19
73
6
4
8
8
7
76.3
11.3
25.3
4.3
4.4
6.2
24.8
77.6
11 5
25.8
4 3
4 4
6.3
25 4
79.2
11.8
26.4
4.3
4.5
6.4
25.8
80
11
27
4
4
6
26
9 1
51
12 9
5
q
0
4
6
4
3
RETAIL TRADE
All retail stores:
Estimated sales (unadjusted), total__mil. of doL.
Durablo-goods stores
- __do
Automotive group
do
Motor-vehicle, other automotive dealers
mil. of doL_
Tire, battery, accessory dealers _ do
Furniture and appliance group_do
Furniture, homefurnishings stores
do
Household-appliance, radio stores
do
14, 167
5,139
2,919
14, 665
2,501
4,969
2,848
3, 093
5,480
3,033
2,377
2,705
2,764
2,929
2,862
12, 329
13, 956
14, 176
5, 189
14, 951
5,319
r 12, 339
12, 062
4, 053
2,838
2 737
2.926
13, 955
4, 742
2 531
16, 444
3 068
2, 279
' 2, 124
2,266
2,690
2,594
2,770
2,388
2,099
' 2, 014
171
796
453
343
2,910
158
741
411
330
••670
'364
'317
2, 156
111
633
346
287
965
733
232
961
725
236
'627
'462
r
165
646
484
162
9,027
9,264
8,986
7,972
9,097
Nondurable-goods stores
do
866
893
888
616
873
Apparel group
_ _
do
184
184
188
145
198
Men's and boys' wear stores
do
362
375
368
254
342
Women's apparel, accessory stores. do
173
190
170
126
172
Family and other apparel stores... _ do
149
155
150
91
161
Shoe stores
do
383
381
397
387
396
Drug and proprietary stores
do
1,024
1,085
1,055
1,093
940
Eating and drinking places
do
' Revised.
% Unpublished revisions for magazine advertising for January 1952-January 1953 will be shown later.
9,007
Lumber, building, hardware group
do
Lumber, building-materials dealers. .do. Hardware stores
do
4,357
124
656
355
301
143
676
391
285
155
676
397
280
660
492
167
788
588
200
868
649
219
5,400
163
752
455
297
897
662
234
14, 578
14, 385
5,378
708
149
151
131
392
1,181
148
785
435
350
14, 082
5,003
143
724
389
334
156
830
475
355
964
736
228
943
712
231
8,987
9,080
699
133
276
161
129
390
1,188
840
156
324
192
167
377
1,147
4,944
143
813
465
348
180
1,000
535
465
968
711
256
862
623
239
861
564
297
9,632
9,213
866
196
340
194
137
384
1, 051
11, 500
1,364
352
524
291
196
516
1,096
902
177
361
205
158
394
1,134 !
' 3, 861
' 110
' 8, 478
''678
'160
'271
132
'115
' 407
'988
8,009
593
128
245
114
106
393
974
SURVEY OF CURRENT BUSINESS
April 1954
Unless otherwise stated, statistics through
1952 and descriptive notes are shown in the
1953 Statistical Supplement to the Survey
S-9
1954
1953
February
March
April
June
May
July
August
September
October
November
3,291
Decem- January
ber
February
DOMESTIC TRADE—Continued
RETAIL TRADE— Continued
All retail stores— Continued
Estimated sales (unadjusted) — Continued
Nondurable-goods stores— Continued _
Food group
mil. of dol
Grocery stores
do
Gasoline service stations
do _ General-merchandise group
do _
Department stores, excl. mail-order... .do
Mail-order (catalog sales)
do Variety stores
do
Other general -merchandise stores
do _
Liquor stores
do
3,095
2,526
752
3,301
2,667
810
3,395
2,742
826
3, 485
1,171
1,466
810
115
1,479
829
98
1,536
879
98
624
94
193
260
230
232
309
242
14, 514
Fstimated sales (adjusted), total
do
5, 304
Durable-goods stores
do_ _ _
2,951
Automotive group
do
Motor- vehicle, other automotive
2, 775
dealers
mil. of dol
176
Tire, batterv, accessory dealers
do__ .
811
Furniture and appliance group
do
451
Furniture, homefurnishings stores .. d o _ _ _
360
Household-applianee, radio stores
do
14, 437
5.211
876
648
229
9, 211
Lumber, building, hardware group. _ _ d o
Lumber, building-materials dealers-, _do
Hardware stores
do_.
Nondurablc-goods stores
Apparel group
Men's and bovs' wear stores
Women's apparel, accessory stores
Famiiy and other apparel stores
Shoe stores
-Drug and proprietary stores
Fating and drinking places
Food group -_ _ _..
Grocery stores
Gasoline service stations
do
do _
do
do-.__
do
_do__
do
do
do
_ _ do do
General-merchandise group
do
Department stores, excl. mail-order. _do
Mail-order (catalog sales)
_ __ -do
Variety stores _ _
do__
Other general-merchandise stores
do_.
Liquor store?
do
Estimated inventories:!
Unadjusted total
Durable-goods stores
Nondurable-goods stores
883
210
346
188
138
412
1,075
3, 393
2,743
869
1,560
855
116
250
339
264
do
do
-_do
21,347
Adjusted, total
do
Durable-roods stores ~_
do._
Automotive
group
do
Furnitu r e and appliance group
do__
Lumber, building, hardware group. _ .do
21,707
__
Nondurable-goods stores
Apparel group
Food group
__
General-merchandise group
Firms with 11 or more stores:
Estimated sales (unadjusted), total
Apparel group
Men's and boys' wear stores
_ __
Women's apparel, accessory stores ...
Shoe stores _ _
__ .
Drug and proprietary stores
Eating and drinking'places
...
Furniture, homefurnishings stores
do__
do
__do
do
10, 059
11, 288
10, 149
3,363
2,003
2,497
11,558
2,418
2,244
3,756
do
do
do
do __
do _
do___.
do _
do
2, 145
119
General-merchandise group
.
do
Department stores
do
Dry-goods, other g e n e r a l - m e r c h a n d i s e
stores
mil. of dol__
Variety stores _do
Grocery stores
do
Lumber, building-materials dealers
do
Tire, battery, accessory stores
do
543
233
Estimated sales (adjusted), total
do
Apparel croup
do
Men's and boys' wear stores
do
Women's apparel, accessory stores
do
Shoe stores
._ ... .. __
_. . do
Drug and proprietary stores
do
Eating and drinking places
do
Furniture, homefurnishings stores
do _
13
47
36
57
47
22
78
144
52
27
914
2,740
898
1,542
855
104
1, 346
708
87
1,460
774
100
1,551
844
110
1,714
934
112
1,753
963
140
241
343
247
233
318
268
242
344
269
14,073
240
357
275
2,836
2,629
4,865
2,667
2,628
174
768
442
2, 695
2,712
2, 663
326
320
2.694
142
768
426
330
344
342
2,490
139
771
416
915
681
234
861
652
209
852
634
218
848
633
215
872
637
235
9,225
916
209
9, 156
348
185
9,309
919
195
9, 367
355
204
9,270
915
204
161
744
424
865
199
159
778
448
153
786
441
900
196
375
189
382
193
147
149
405
404
402
393
3,367
845
3,407
2,773
855
1, 086
2,741
2, 785
1, 115
3, 434
2. 860
1.582
870
118
1,526
835
107
1, 628
902
118
1,634
898
116
148
397
1,101
3,376
254
340
263
132
1,082
254
329
271
1, 086
2, 759
854
265
343
268
22, 649
10, 698
11, 951
23, 161
11, 228
21, 981
10, 303
3,431
22, 387
10, 543
3, 569
22, 455
10, 526
2, 567
11,678
2,500
2,224
3,770
11,844
3,851
2, 487
2,317
3,851
2,485
2,546
2,604
2,020
2, 529
188
19
74
56
60
54
28
11,933
2.048
2, 528
2,258
180
17
70
60
60
56
22, 760
11,028
11, 732
3,394
868
357
196
152
12, 013
2, 628
2,214
17
72
58
3,923
2,576
2,460
17
68
62
11
59
49
178
142
62
58
62
59
63
61
269
13 932
4, 626
2 509
r 13 (592
r 4 43(5
2 365
r 2 148
r 137
r 784
317
322
320
893
657
236
820
597
223
r827
9,159
9,117
9,011
9.099
787
167
9, 306
868
188
r Q 180
r §45
r ig7
9 221
354
167
'339
163
335
812
168
796
168
320
193
310
175
391
387
144
131
1,100
3,413
1,077
768
155
299
169
314
163
146
143
383
394
1,070
1,054
3, 375
264
353
279
262
352
285
249
343
274
252
356
278
144
738
418
22, 775
10, 624
3 737
1,987
2,531
22 924
10, 921
3 937
22 720
10, 727
3 875
2, 520
2, 424
22, 437
10, 574
3, 768
1,994
2,419
22 661
10 668
3 748
2 039
2, 495
12 151
2 593
2, 352
3 897
12
2
2
3
11
2
2
3
2,501
138
10
59
46
2,028
003
573
324
842
11, 993
2 573
2,314
3 857
11,863
2,524
2,760
2,587
171
13
65
59
188
18
73
57
62
59
60
60
64
59
2 527
2,289
3 823
176
20
69
48
60
53
993
521
344
858
3, 457
287
2 8^7
21 369
1 o' 233
T 11 13(5
22 046
T 0 476
11 570
22 5?1
22 421
10 584
r
T
r
T 1Q
1 984
2,437
r 11 R°.°.
2 394
T Q'
r
r 120
12
r 45
r 37
88
57
'60
r 50
25
30
705
325
726
335
798
372
801
352
1 282
r
103
172
104
183
1,013
102
177
1,050
108
184
1,015
92
172
1,038
107
182
1 035
107
183
1 014
121
202
1 132
121
199
1 001
194
410
1 129
r
18
64
55
61
53
31
2,579
171
17
69
51
63
56
26
2,586
177
18
70
57
64
57
30
745
343
795
377
112
190
108
200
992
1,018
64
58
60
54
68
60
2,618
174
17
69
56
64
59
26
67
57
2,635
184
18
73
61
64
60
26
68
55
2,572
169
16
69
55
63
71
47
70
53
2,562
2,532
165
15
63
63
57
63
55
57
26
59
25
782
359
735
328
716
317
112
201
104
208
1 030
61
54
1 045
61
47
109
198
105
199
1 044
62
50
1 066
56
47
778
356
168
15
65
54
698
317
58
49
2,569
173
17
68
51
63
55
30
723
321
103
190
109
196
1 059
53
51
1 060
57
52
33
r 29
509
501
990
'76
50
72
_
oq-r
9 41 fi
2, 147
114
11
45
36
56
50
25
505
71
OT
r 2, 538
-1 OC
r ^(54
20
14
64
56
63
54
23
(59
54
29
T
n
1 00
2, 620
7pn
q' QCC
1 994
2,351
fi7°.
2, 240
35
113
81
652
306
63
56
f,gg
T q' g(}5
750
362
62
54
oco
r "340
30
32
817
Qfi
r 236
747
376
27
1 OQQ
3 395
9' s1^
01 ^
-•823
260
381
308
21 208
9 876
2,038
165
414
r 1 ^fl r \
933
1 8Q
4^0
1 629
870
118
r
863
T
r i 066
r 3' 37g
23, 628
10, 459
13, 169
837
622
°16
r 15(5
1 064
3 422
2 890
23 584
10 589
12, 995
322
r 228
158
23 023
10 615
12, 408
11,901
151
756
434
' 599
408
22 448
10, 547
2 364
r 443
'341
24
24
13 932
4 710
2 516
856
618
238
r 9 285
718
338
26
189
275
255
176
r 292
332
1,571
857
106
11,822
r
880
657
223
897
11,929
r 624
526
564
462
798
900
671
229
1 528
840
96
2,555
1 141
596
82
1 167
355
1,548
832
103
2, 070
2, 572
r
2,630
147
754
432
141
746
429
1,595
868
109
11,406
2 748
1,477
181
2,718
874
10, 706
3 111
2 611
2,530
137
712
380
1, 636
874
119
22,112
r
3 357
r 2 837
r 855
914
2,776
2,838
910
22, 743
10. 730
3.810
1,981
180
14, 104
5, 005
3, 618
3 018
2 859
2 842
22, 141
10, 737
2,235
3,824
14,040
5,029
3,400
286
356
283
2, 506
257
394
294
3,444
2,843
877
22, 294
10, 472
3, 573
1, 980
2, 574
3,528
13, 982
264
403
298
2,834
880
264
357
275
11,404
4,914
2 997
684
302
756
769
General-merchandise group
do
359
357
Department stores
do
Dry-goods, other
general-merchandise
101
114
stores
-_ .
mil. of dol
187
189
Variety stores
do
1,000
1,004
Grocery stores _
do
69
69
Lumber, building-materials dealers
do
61
57
Tire, battery, accessory stores
do
r
Revised.
fRe vised series. See corresponding note on p. S-3.
3,350
2,783
908
14, 469
5,102
2,591
171
66
52
3,425
2,858
960
3, 478
14, 412
5, 103
2,816
2,570
62
2,897
971
3,567
916
2,781
14, 424
5, 154
2,871
999
54
49
18
14, 280
5.124
235
324
261
3,377
2,856
2,802
939
47
41
168
245
306
249
2,858
888
nqo
2, 577
167
15
67
54
61
57
31
7AQ
q-i /?
r 1 8A
59
50
r
57
51
1 Q^i
60
52
S-10
SURVEY OF CURRENT BUSINE SS
Unless otherwise stated, statistics tliroush j
1952 and descriptive notes are shown in the j jre|)ru.
1953 Statistical Supplement to the Survey i
Ap HI l!)r>4
1954
March
April
June
May
_f
Augu bt
July
September
October
No vein- | December
j
ber
January
February
DOMESTIC TRADE—Continued
RETAIL TRADE— Continued
Department stores:
Accounts receivable, end of month:
Charge accounts
1947-49 = 100..
Instalment accounts
-. do
Ratio of collections to accounts receivable:
Charge accounts
percent Instalment; accounts 9
_
do
Sales by type of payment:
Cash sales
percent of total sales .
Charge account sales
do
Instalment sales
do
Sales unadjusted total U S t
1947-49 = 100
Atlanta
do.
Boston
do
Chicago
do-.
Cleveland
do
Dallas
do..
Kansas City
do
Minneapolis
do. .
New York
do
Philadelphia
do..
Richmond
..
do
St Louis
do
San Francisco
- do-. .
Sales adjusted total U. S.J
--- - do__
Atlanta
do
Bostonr
._ do..
Chica° o
do
Cleveland
-do._
Dallas
do
Kansas City
do._
Minneapolis
do
New York
do__
Philadelphia
do
Richmond
- _
do
SI Louis
do
San Francisco
do.Stocks, total U. S., end of month:!
TJpnrt justed
do
Adjusted
. - do_
Mail-order and store sales:
Total salos 2 companies
. _. -thous. ofdol
Montgomery Ward & Co
do
Sears, Roebuck & Co
_ _ __ _. do.
Rural sales of general merchandise:
Total U. S., unadjusted
1935-39=100..
East
do
South
do
Middle West
do
Far West
do...
Total U S , adjusted
do
East
do
South
do
Middle West
.
do
Far West
do
WHOLESALE TRADE
Sales, estimated (unadj ), total t
mil. of dol..
Durable-goods establishments
do
Nondurable-snoods establishments
do
Inventories, estimated (unadj.), totalf
do
Durable-goods establishments .. _ __ .. clo- .
Nondurable-goods establishments.
_do__. _
126
224
123
222
122
220
124
220
123
219
114
214
113
218
125
222
132
229
146
238
194
259
159
252
138
243
44
13
49
15
46
14
46
14
47
14
46
13
45
14
46
14
48
14
47
14
46
14
'45
13
43
14
47
42
11
88
47
43
10
115
131
106
114
115
127
115
107
101
118
127
118
117
117
134
106
114
115
131
115
107
104
119
128
118
124
47
43
10
108
114
103
110
111
118
111
98
99
105
112
110
112
115
128
103
112
118
134
118
106
102
110
119
122
121
47
42
11
89
102
76
89
89
104
91
84
75
83
96
86
101
113
127
106
110
114
124
111
105
104
117
120
107
117
47
42
11
98
114
79
98
104
116
104
97
75
92
97
100
109
112
130
99
109
120
127
112
102
99
116
114
110
113
46
44
10
112
122
112
113
114
119
109
110
102
108
121
109
111
107
119
105
106
109
112
103
100
98
104
114
102
110
46
43
11
115
130
107
112
115
128
114
118
110
114
122
119
111
110
128
107
109
110
122
108
103
104
106
117
108
111
46
44
10
136
146
129
137
142
144
129
121
129
142
144
136
131
113
128
107
113
115
127
112
105
102
108
118
114
112
48
43
9
192
219
194
188
187
209
189
171
178
188
211
185
195
112
127
108
115
112
125
114
107
101
108
121
113
109
46
43
11
p85
117
47
43
10
104
117
101
104
103
117
106
97
95
103
111
105
105
110
118
106
110
105
124
112
99
102
113
117
111
116
47
42
11
83
94
83
82
r
80
94
r
106
110
115
125
115
105
100
112
••120
113
r
46
43
11
103
124
95
101
107
117
103
92
93
106
110
104
102
115
128
105
114
116
126
114
108
103
112
124
118
119
119
123
127
122
132
125
132
127
123
128
121
130
126
131
132
128
141
128
142
127
109
123
108
120
p 115
p 119
258, 518
62, 171
196, 347
327, 550
87, 515
240, 036
345, 223
90, 564
254, 659
384, 048
95, 059
288, 989
380, 397
92, 804
287, 593
316, 298
78, 977
237, 320
339, 713
89, 164
250, 549
351, 988
91,513
260, 475
377, 007
99, 860
277, 147
511,657
138, 930
372, 727
231,649
52, 587
179, 062
228 687
53 131
175 556
277.7
322. 5
316.3
349. 5
312.1
352. 3
293. 6
265. 8
313. 3
308. 3
294. 1
320. 3
274.9
340.2
292.9
347.9
313.3
285. 8
316.8
281.7
334. 8
309 9
369. 1
355 2
313.0
385. 3
338. 3
394.8
262. 6
228.4
269. 1
250. 9
349. 5
353. 9
322. 6
374. 3
335. 9
428. 3
312.7
278.3
330.8
291.8
391.4
339. 2
317.3
368.4
315. 1
400.0
335. 3
295. 9
358. 6
315.0
403. 7
308. 7
293.8
323. 6
292. 8
356.0
333.5
311.5
377. 7
320. 5
396.8
288.5
270.9
300. 2
277.5
353. 0
427.3
434. 6
468.2
400.8
461.7
324.7
305. 6
339. 8
305. 0
368.2
541.0
487. 5
560. 9
520 4
648.6
353. 4
314.5
386 0
341. 9
407.2
235. 7
212.2
251 1
295 4
275.4
311 4
279 9
313 9
300. 5
374 2
222 7
269 2
234 1
284 3
301 4
268 3
309 4
292' 6
380 6
9.917
3, 223
6. 694
11,453
6.127
5. 326
10, Isf,
3,150
7 036
11,607
6. 107
5. 500
9 386
3, 096
6, 290
11,750
6.094
5, 656
9, 759
3, 296
6, 463
12,013
6,077
5, 936
9, 933
3,344
6,589
12,214
6,044
6,170
9,231
2, 973
6, 258
12. 153
5, 902
6. 251
9,180
2, 986
6 194
11,695
5. 676
6.019
' 101
80
85
89
101
91
80
81
85
-91
89
94
112
' 123
254. 3
30« 1
254 7
301 . 9
331.8
306. 4
354 1
318.4
404.1
326. 0
379. 9
327.8
404.9
348.9
287 6
371.8
9, 398
3,184
6, 214
9, 270
3. 2S8
11,504
11,641
6 002
5, 502
6, 243
5, 398
11,403
6, 2f>4
8. 242
2 862
5 380
5, 229
339. 7
343. 7
327. 5
386. 4
330. 6
379.1
9, 014
3, 079
5. 9:in
1 1 , 433
5. i": i
' 373, 870
' 98, 349
275, 521
T
p 101
pgl
p81
p80
p98
p86
83
76
v 84
81
80
80
83
85
r
p83
p81
p89
*>88
P86
!07
»
p
p
p
p
p
p
p
p
p
p
P
p
122
105
106
r
104
r
119
110
105
101
M06
109
108
108
109
123
109
105
104
121
109
110
102
107
117
112
107
252.3
r
r
8, 022
2 425
r 5 597 i
r
11,934
r
5. 853 i
'6.071 1
3,108
2 625
5 483
11,921
5 950
5, 971
EMPLOYMENT AND POPULATION
1953
February
March
April
May
June
July
1954
Decem- January
October NovemAugust September
ber
ber
F
^U-
March
!
POPULATION
Population, continental United States:
158,804 159,017 159,202 159, 410 159,629 j 159.889 160, 154 160,408 160, 654 160, 873 161, 100 p 161,331 : 161,542
Total, incl. Armed Forces overseas © thousands
158,623
EMPLOYMENT
I
i
Noninstitutional population, estimated number 14
114, 755 114,828 114,931 ! 115,032 115, 132 115,232 M l 15, 342 115,449 115,544 115, 034 115,738 115,819 | 115,914
114,479
years old and over, total c?§
thousands.
Total labor force, including Armed Forces:§
(New sample) do
1
66 292
67 139 ! 67 918
08, 290
66, 497
ttf, 258
68, 238 i 07, 127
66, 679
00, 538
GO, 954
66, 100
GO, 255
65 589
(Old sample]
do
66. 874
06,905 :
i
K3 79 '-, \
A1} Q9^
Civilian labo* force total (New sample) do
62 840
64, 734
04, 068
04, 048 i 63, 552
63, 13A
02, 810
02, 964
63,404
63,353
( Old sa m pie)
do
02, 712
62,137 \ 63,491 \
" __
62, 614
Employed (New sample)
do
59 753 ; T 60 055 ;
60 100
03, 120
03, 408 i 0'2, 306
61, 058
63,172
01,400
62, 242
01,228
01,925
60, 764
(Old sample)
do
60, 924
59, 778
00. 100 \
'
j
i
Agricultural employment:
r 5 704 ;
5 375
._ _ ._ i . .
1'
(New sample) do
5 ^84
i ^ gr}2
7, 028
7, 274
0, S90
5,720 \ 0,070
(Old sample) _ _do
7, 159
0, 651
5, 438
5, 800
5, 345
Nonagricultural employment:
f
54 469 T ^\ -i"i
~,i oot;
(New sample) do
56, ~134 1 55, 044 55, 083
55, 492
55, 740
55, 158 ! 55, 208
55, 246
55 274
55 326
(Old sample)
do
55, 558
5 '4 ''80
i
Unemployed (New sample)
- __do
3,087
3
671
i
3 7^5
1
1,674
1,240
1, 240
1,582
1,306 \
1,502
1, 548
(Old sample)
do
1 428
1 850
1,788
1, 102
3 385 !
2 359
Not in labor force (New sample)
. _ do
49 447
48
679
I
48
696
48, 076
46, 994 \ l 48, 215 \ 48, 495
48,490 \ 48.434 i 40,742
40, 874
48, 671
49, 528
(Old sample) . _. _ _. . do
50, 149
48. m
48.915 1
'
r
1
Revised.
p Preliminary.
See note marked "tf" for this page.
9 Revised beginnnins 1953; not strictly comparable with earlier data.
JData for 1946-53 have been revised to
reflect changes in seasonal factors and other minor changes. Unpublished revisions (nrior to July 1952) will be shown later.
fRevised series. See corresponding note on p. S-3.
©Minor changes have been made for May 1950-October 1951. Revisions for November 1951-Decembcr 1952 appear at bottom of p. S-10 in the March 1954 S'UBVEY.
^Beginning in January 1953, materials from the 1950 Census have been used in estimating the labor force statistics. Accordingly, the figures prior to January 1953 are not entirely cornparable with those for subsequent months. The new materials were introduced gradually over the 3-m >nth period January-March 1953. As a result, estimates of employment were raised by
approximately 400 000 and estimates of persons not in the labor force by about 200,000. The unemployment estimates were practically unaffected. In September 1953' a further revision in
the estimating procedure was introduced which raised the level of agricultural employment by roughly 200.000 (and conversely lowered the level of nonagricultural employment by approximately 200,000). See note at bottom of p. S-10. February 1954 SURVEY, for rough adjustment factors'for use in comparing the 1953 estimates with earlier data.
§Beginning with data for January 1954, the Bureau of the Census has released preliminary estimates of the labor force based on a new sample. The new sample, like the old, consists of
25,000 households, but is more widely distributed in 230 areas covering 450 counties (the old sample comprises 68 areas in 123 counties). Since it is believed that the 230-area sample yields
more accurate results, collection of data based on the old sample was discontinued after February 1954.
SURVEY OF CURRENT BUSINESS
A p r i l I!).~i4
S-ll
1953
1952 and descriptive notes are shown in the
1953 Statistical Supplement to the Survey
February
March
April
May
June
July
19^>4
August
St
'C"-
October
November
December
January
February
EMPLOYMENT AND POPULATION—Continued
EMPLOYMENT— Continued
Employees in nonagricultural establishments:
Total, unadjusted (U. S. Dept. of Labor)
thousands...
Manufacturing
_
do __
Durable-goods industries
do
Nondurable-goods industries
- do _ _
Mining, total
do
Metal. _ .. ...
...
do
Anthracite
do
Bituminous coal _. __
- do
Crude-petroleum and natural-gas production
thousands _ _
Nonmetallic mining and quarrying
do
Contract construction _ _ _ _ _
do
Transportation and public utilities
do
Interstate railroads
do
Local railways and bus lines
__ do ___
Telephone _
___
do
Telegraph
do
Gas arid electric utilities
do
Wholesale and retail trade
do
Wholesale trade
do
Retail trade
do
General-merchandise stores
do
Food a n d liquor stores
_ _ _ d o __
Automotive and accessories dealers-. .do
Finance, insurance, and real estate
do
Service and miscellaneous _
do
Hotels and lodging places
do
Laundries. _ _
__
do
Cleaning and dyeing plants _
do_ __
Government __ _
_
do
Total, adjusted (Federal Reserve)
do
Manufacturing
do
Mining _
.do
Contract construction
do
Transportation and public utilities
do
Wholesale and retail trade
do
Finance, insurance, and real estate
do
Service and miscellaneous, _ _ __
do____
Government _ _ _
_
__ do
Production workers in manufacturing industries:
Total (U. S. Dept. of Labor)
thousands. _
Durable-goods industries do
Ordnance and accessories-, ._ __
__do-._
Lurnber and wood products (except furniture)
thousands _ _
Sawmills and pianino mills
. .do
Furniture and
fixtures
do
Stone, clav, and glass products _
do
Glass arid glassware, pressed or blown
thousands..
Primary metal industries
do
Blast furnaces, steel works, and rolling
mills
..thousands
Primary smelting and refining of nonferrous metals
thousands
Fabricated metal prod, (except ordnance, machinery, transportation equipment)
thousands..
Heating apparatus (except electrical) and
plumbers' supplies
thousands. _
Machinery (except electrical)
do
Electrical machinery
_ _
do
Transportation equipment
do
Automobiles
_ _ do
A i r c r a f t and parts
do
Ship and boat building and repairs....do
Railroad e q u i p m e n t
do
Instruments and related products
do
Miscellaneous mfii. industries
do
Nondurable-goods industries
do
Food and kindred products
do
Meat products... 1
do.
Dairv products
. .
_clo
C a n n i n g and preserving. _ _
_ _
do
Bakerv products . _
do
Beverages
do
Tobacco manufactures
do
Textile-mill products
.
do
Broad-woven fabric mills
do
K n i t t i n g mills
do
Apparel and other finished textile products
thousands
Men's and boys' suits and coats
do
Men's and boys' furnishings and work
clothing
thousands.
Women's outerwear
do
Paper and allied products
do
Pulp, paper, and paperboard mills., do
Printing, publishing, and allied industries
thousands..
Newspapers _ _
do
Commercial printingdo
Chemicals and allied products.
_
do
Industrial organic chemicals
do
r
Revised.
Preliminary.
48, 369
17,013
9, 989
7, 024
856
101
60
325
48, 685
17, 135
10, 103
7,032
846
100
57
318
48,860
272
98
271
99
2,301
4,235
1,361
131
694
48
543
272
102
2,416
4.244
1, 376
131
682
48
542
7,471
1, 355
1,381
810
1,977
5,194
451
340
172
6,625
10, 284
2,730
7,554
1,396
1,389
813
1,993
5,225
456
340
175
6,666
10, 314
2, 713
7,601
1,397
1,398
820
2,014
5,307
464
344
181
6,653
49, 113
17, 039
867
2, 562
4,261
10, 445
1,987
5, 300
6, 652
49, 148
17, 168
854
2,529
4,272
10, 390
1,993
5, 305
6, 637
13, 733
8, 115
142
49, 058
17, 040
10, 096
6, 944
831
100
56
300
49, 416
17, 162
10, 121
7,041
835
101
54
299
49,215
17, 069
10, 007
7, 062
823
100
49
290
49, 409
17. 258
10, 006
7. 252
831
100
50
291
49, 695
17, 221
9, 955
7, 266
826
100
50
291
49, 663
17,017
9,879
7.138
813
99
49
284
271
104
27 6
105
2, 608
4,315
1, 400
131
700
49
552
280
105
2. 662
4, 340
1,410
131
710
48
559
284
106
2,715
4,337
1,407
129
704
48
561
279
106
2, 751
4, 323
1,394
128
698
48
555
276
105
2, 772
4, 310
1,383
130
700
48
551
10, 348
2,712
7,636
1,406
1,399
829
2, 025
5,357
470
349
184
6,669
10,415
2,729
7,686
10, 355
2, 736
7, 619
1, 350
1, 401
846
2, 075
5,413
538
355
180
6, 478
10, 334
2, 733
7, 601
1, 356
1,391
851
2, 076
5, 409
538
351
176
6, 449
10, 464
2, 736
7,728
1,421
1. 402
849
2, 054
5, 393
486
346
180
6, 663
10, 611
2, 768
7,843
1,496
1,422
854
2, 055
5, 336
451
346
185
6, 749
' 10,386
' 10, 772
' 11,310
v 10, 297
' 2, 790 ' 2, 789 ' 2, 757 v 2, 750
' 7, 629 -P 7, 547
' 7, 982 r 8, 521
1,382
' 1, 985
' 1, 602
v 1,331
1,415
' 1,44-)
' 1,432
p 1,421
859
858
' 869
*851
' 2, 054
2, 064
2, 056
T 2, 062
r
' 5, 227
5, 272
5, 303
P 5, 225
441
' 440
M41
342
344
345
180
182
185
' 6, 746 p 6, 725
7, 018
6,740
49, 154
17, 229
838
2,517
4,266
10, 402
2,004
5,307
6,591
49, 297
17, 276
833
2, 484
4,282
10, 466
2, 015
5,304
6,637
49, 486
17, 319
831
2, 508
4,282
10, 521
2,026
5,317
6,682
49,511
17, 303
816
2,511
4,293
10, 524
2,044
5,333
6,687
49, 302
17,126
821
2, 514
4.287
10, 489
2, 055
5,329
6,681
49, 216
16, 959
820
2,571
4. 301
10, 503
2, 0(i4
5,313
6, 685
49, 229
16, 790
810
2, 615
4,317
10, 558
2, 076
5, 336
6, 727
' 48, 877 ' 48, 560 ' 48, 388 p 48, 213
' 16, 587 ' 16, 404 ' 16,234
P 16, 055
'799
810
'815
P 793
' 2. 590
' 2, 572 ' 2, 474
2,517
' 4, 280 ' 4, 228 ' 4, 173
4, 108
' 10,542
' 10,480
' 10, 485
P 10, 530
2, 074
2,077
' 2, 075
2, 072
' 5, 334
5, 330
' 5, 325
5, 332
6, 667
' 6, 757
6,707
6,746
13, 831
8,211
147
13, 758
8,215
150
13, 699
8,179
156
13, 787
8,190
158
13, 666
8,056
162
13, 851
8, 054
159
13, 832
8,016
159
13. 627
7, 941
158
' 13,317
677
404
332
453
688
408
333
459
701
416
329
462
713
422
322
461
731
432
317
465
718
426
315
456
722
429
315
463
713
423
315
465
705
419
312
463
88
1,142
90
1,145
91
1,144
91
1,138
92
1,143
1, 134
89
1. 128
91
1, 117
91
1,099
571
561
555
' 542
2,280
4,210
1,356
132
689
48
541
.
10,214
2,743
17, 077
10, 117
6,960
835
100
51
310
2,509
4,279
1,387
131
697
49
544
1,402
1,406
839
2,046
5,397
496
354
187
6,638
' 49, 722 ' 47, 770 p 47, 476
' 49, 340
' 16, 177 p 16, 027
' 16, 706 ' 16, 488
r
'9,413
' 9, 584
9, 705
f 9, 280
r
' 6, 764 v 6, 747
' 6. 904
7, 001
' 792
809
P782
'816
98
' 100
99
P98
46
49
49
'274
286
'281
»272
'278
104
' 2, 674
' 4, 273
' 1, 354
130
699
47
"551
r
7, 767
153
' 279
102
' 2, 521
' 4, 240
' I 329
' 330
698
47
'550
'13, 107
' 7, 651
'150
'688
407
' 308
458
r
'91
1,076
563
564
562
562
567
42
42
42
43
43
44
44
44
43
42
942
952
952
952
956
938
946
944
929
907
124
1,323
916
1 543
798
538
137
59
241
404
124
1, 335
925
1, 574
821
542
137
63
244
410
125
1,321
926
1, 576
831
533
139
62
244
411
123
1,307
919
1, 556
816
532
135
61
244
413
123
1, 300
911
1, 548
803
535
136
63
245
415
120
1,264
892
1, 533
796
537
134
55
241
403
122
1,235
905
1, 521
775
545
130
59
239
420
121
1, 228
913
1, 493
738
555
130
58
241
428
121
1.219
905
1.479
732
551
127
57
241
432
5, 618
1, 033
241
78
129
180
122
94
1, 134
502
232
5,620
5,543
1,025
238
80
123
180
125
87
1, 134
499
235
5,520
1,027
233
83
134
179
]27
85
1, 119
494
1,051
233
87
146
181
132
85
1,117
494
232
5, 597
1,097
237
94
165
184
132
bo
1, 122
497
5, 610
1, 184
240
94
244
184
139
85
1, 094
490
226
5, 797
1, 264
240
93
316
182
143
107
1, 102
486
231
5,816
1. 297
242
~88
3*2
183
140
114
1, 097
484
229
5, 680
1,202
249
82
232
183
135
111
1, 076
475
224
1, 137
124
1, 139
126
1, 086
124
1, 061
125
1,072
127
1,053
118
1 109
129
1,087
129
1, 090
128
' 1 , 071
125
284
300
437
223
289
356
439
223
289
318
440
222
288
298
440
222
288
309
446
225
277
314
442
225
291
335
450
227
290
316
454
228
288
317
452
226
282
'316
450
497
144
159
519
189
499
146
159
526
190
498
146
158
526
191
499
148
158
517
192 !
502
148
159
513
195
496
146
157
508
195 1
499
146
156
511
196
509
149
159
515
193
513
150
161
513
190
' 510
' 149
r
100
'• 508
' 187
115
' 1,205
885
r
1, 423
703
' 528
127
8S
' 1,061
r
r
'258
79
' 168
' 181
' 130
103
' 1, 054
467
92(j
82
' 1,037
42
42
879
'880
' 1,4:50
' 545
125
56
240
' 40. i
T
I,'l31
' 620
370
' 295
' 426
"617
P 291
M21
p 1,017
534
110
' ! , 202
' S5f »
r
p 97
P 2, 240
P 4 , 118
' 12,821
p 12, 677
' 7, 493 p 7 , 3 7 l
' 146
p 131
' 650
'388
'301
' 440
242
' 424
r
276
'97
' 2. 251
' 4, 137
1,272
129
694
47
549
5, 4~)0
' l.OoS
r ' 77
}.:>,!'>
T
125
' 10:'>
' i, 030
459
'211
' 1 , 071
' 124
104
' 1 , 1 94
' 830
' i , 437
691
560
125
55
'236
' 392
r
p865
p 1, 192
p814
P 1,395
p"233~
p 390
5, 328
r
1,015
244
70
121
174
120
r
99
' 1, 005
44S
203
P 5, 306
v 1,001
' 1,053
124
" 1,000
P 90
P 1,001
205
T
3-3 r>
' 44<i
r 441
224
r
512
150
103
' 501
' 185
503
14(5
101
500
1S2
p~438~
p 499
_________
SURVEY OF CURRENT BUSINESS
S-12
Unless otherwise stated, statistics through
1952 and descriptive notes are shown in the
1953 Statistical Supplement to the Survey
April 1954
1953
February
March
April
May
June
July
1954
August
September
October
November
188
144
214
90
341
221
186
143
209
87
335
214
184
142
204
84
334
216
'181
' 141
202
83
'333
'220
December
January
February
EMPLOYMENT AND POPULATION—Continued
EMPLOYMENT— Continued
Production workers in mfg. industries— Con.
Total (U. S. Dept. of Labor)— Continued
Nondurable-goods industries — Continued
Products of petroleum and coal
thousands. _
Petroleum refining
_ do
Rubber products
_-do_ __
Tires and inner tubes
do
Leather and leather products
. do
Footwear (except rubber)
do
Manufacturing production-worker employment
index, unadjusted (U. S. Dept. of Labor)
1947-49 = 100-Manufacturing production-worker employment
index, adjusted (Federal Reserve) --.1947-49" =100-Miscellaneous employment data:
Federal and State highways, total§
number. Construction (Federal and State)
- -do __
Maintenance (State)
do
Federal civilian employees:
United States.
thousands. .
Washington, D. C., metropolitan area__do
Railway employees (class I steam railways) :
Total
thousands
Indexes:
Unadjusted
1935-39 = 100
Adjusted.
do .
186
144
219
91
364
238
186
144
221
92
363
238
188
144
221
92
355
232
188
143
220
93
344
226
190
145
220
92
351
231
190
145
213
90
344
224
111.0
111.8
111.2
110.8
111.5
110. 5
112.0
111.8
110.2
107.7
' 106. 0
' 103. 7
p 102. 5
111.2
112.0
112.4
112.6
112.7
112.4
111.0
109.8
108.4
106.7
' 105. 2
' 104. 1
p 102. 7
233, 697
65, 912
112, 723
240, 604
71,537
112,856
259, 370
91,151
112, 583
280, 496
110,780
114, 107
312,091
131.103
120, 212
326, 974
140,319
124, 974
336, 979
149, 936
123,676
329, 727
147, 734
119, 845
315, 207
138, 824
117, 069
283, 814
110, 322
114, 128
2, 348
244
2, 331
241
2,313
238
2,291
234
2,291
234
2, 269
230
2, 245
227
2, 218.
224
2,192
222
2,189
221
2, 180
220
2. 171
219
2,162
218
1, 219
1,223
1,239
1,251
1,263
1,274
1,271
1,258
1,248
1,222
1, 190
1, 139
1,116
116.1
119.0
116.5
119.4
118.1
120.0
119.3
119.8
120.4
118. 8
121 . 5
118.9
121.2
118.7
120.0
117.1
119.0
115.2
116. 4
115.4
113.2
115.0
p 108. 5
p 112.8
p 106. 4
» 109. 1
149.3
151.9
150.0
149.9
150. 8
148.9
151.6
150.9
149.3
r 145. 6
' 144. 0
' 138. 9
p 136. 9
40.9
41.7
41.6
41.1
41.9
41.2
40.8
41.6
40.7
40.7
41.5
41.4
40.7
41.4
41.3
40.3
40.8
41.2
40.5
41.1
40.9
39.9
40.6
41.0
40.3
41.0
40.9
40.0
40.6
39.8
40.2
40.8
' 40. 9
39.4
'40.0
39.9
P 39. 5
p 40. 0
P40. 4
41.0
40.6
41.5
41.0
39.9
41.4
40.9
40.4
41.6
41.3
40.6
41.7
41.0
40.7
41.3
41.1
39.7
41.2
40.8
40.5
40.9
41.2
39.8
41.3
41.4
41.2
41.0
41.1
40.0
41.4
40.7
40.4
39.8
40.8
39.0
40.9
40.9
41.1
40.9
41.1
39.8
41.0
40.2
40.4
40.5
40.4
39.3
40.2
40.9
41.1
41.1
41.2
39.7
40.3
40.1
40.1
'40.7
40.6
39.4
' 39. 8
' 40. 3
'40.4
'40.6
40.7
' 39. 4
'39.8
'39.3
39.2
' 39. 5
'39.6
39.0
'39.2
p 39.9
p 40.3
40.9
40.9
40.3
41.1
40.9
40.8
41.0
40.0
40.2
'39.6
'39.2
41.7
41.7
41.6
41.6
41.5
41.2
41.2
41.3
41.4
41.8
'41.9
42.0
42.2
42.4
42.2
42.1
42.0
41.3
41.4
40.7
41.3
41.0
41.5
'40.7
41.0
42.8
41.2
41.8
41.7
43.0
38.3
40.6
41.7
41.1
41.0
43.1
41.5
41.7
41.8
42.3
39.2
40.5
41.9
41.5
40.7
42.8
41.3
41.6
41.9
42.0
39. 7
40.2
41.2
41.3
40.5
42.5
40.8
41.3
41. 5
41.7
39.7
39.5
41. 6
40.9
40.1
42.2
40.8
41.2
41.5
41.2
39.5
40.0
41.5
40.9
40.1
41.7
40.1
40.8
40.7
41.5
39. 5
38.8
40. 6
39.7
40.0
41.8
40.7
41.2
41.2
41.8
39.5
38.6
41.0
40.6
39.0
41.6
40.5
40.3
39.9
41.4
38.1
39.1
41.2
40.1
40.3
42.0
40.4
40.9
40.8
41.6
38.6
39.5
41.4
41.0
^39.3
41.6
MO. 2
'40.4
'40.1
41.6
37.9
' 38. 8
'41.3
40.7
'39.8
41.9
40.2
40.7
'40.1
'41.8
39.6
39.6
'41.3
'40.7
38.7
' 41. 2
'39.3
' 40.3
40.7
40.5
38.1
39.2
' 39. 9
'39.4
39.8
40.7
40.0
43.9
38.0
41.2
40.4
36.9
40.1
40.2
38.5
40.0
40.8
40.3
43.4
37.6
41.6
40.2
37.8
40.0
40.0
38.7
39.5
40.4
39.9
43.2
36.6
41.2
40.6
37.2
39.3
39.7
37.3
39.5
41. 1
40.6
44.0
37.6
41.3
41.6
37.0
39.4
40. 1
37.2
39.7
41.7
41.5
44.7
38.1
41.9
42.6
37.0
39. 5
39.9
37.5
39. 6
41.8
40.7
44.7
40.4
41. 6
43.1
37.4
39.1
39.5
37.2
39.6
41.4
40.6
44.2
40. 1
41.4
41.9
38.9
39.0
39.2
37. 7
39.0
42.0
41.4
44.2
41.3
41.8
41.7
39. 1
37.7
37.9
36.0
39.2
41.5
42.1
43.2
40.1
41.3
40.7
39.4
38.2
38.3
37.6
39.1
41.4
43.2
' 43. 0
' 37. 0
' 41.0
39.9
38.3
38.2
'38.5
37.2
39.3
'41.3
41.6
'43.5
37.9
41.0
40.1
39.2
'38.4
'38.6
'37.1
38.5
'40.9
41.5
42,9
37.4
40.7
39. 6
' 36. 2
' 37. 3
37.3
36.1
36.0
36.8
36.6
37.4
34.8
35.4
36.1
36.2
35. 6
'35.7
'35.9
'36.6
' 34. 9
35. 1
36.9
34.6
43.2
44.5
37.3
35.3
43.3
44.4
36.0
32.4
42.7
43.7
36. 7
34.1
43.0
43.8
' 35. 8
'34.3
42.9
44.0
' 35. 7
'35.5
42.8
44.0
34.5
34.8
' 41. 9
43.4
38.6
36.0
40.0
41.5
41.0
41.4
41.2
40.5
40.2
38.1
37.9
38.9
36.0
40.1
41.0
40.6
41.1
40.6
39.8
39.1
37.8
37.3
38.8
36.2
40.0
41.5
40.8
41.1
40.7
39.0
37.8
35.5
34.4
38.9
36. 3
40.2
41.2
40.1
40.8
40.3
39. 1
37.8
36.0
34.6
'38.8
' 36. 3
40.1
41.4
40.4
40.8
40.7
'39.4
' 38. 5
'36.1
' 34. 7
'39.3
'37.4
'40.5
41.5
40.7
'40.7
'40.7
'39.2
37.3
37.7
37.2
'38.4
35.7
40.0
41.1
40.5
' 40. 5
40.4
' 38. 8
37.7
'37.8
37.8
191
146
214
90
351
228
180
140
' 199
82
'334
225
p 180
* 196
p 339
' 252, 170
' 79, 163
113, 372
PAYROLLS
Manufacturing production-worker payroll index,
unadjusted (U. S. Dept, of Labor) -.1947-49 = 100. _
LABOR CONDITIONS
Average weekly hours per worker (U. S. Dept. of
Labor) :
All manufacturing industries
_hours_Durable-goods industries
do
Ordnance and accessories
do
Lumber and wocd products (except furniture) -.
hours
Sawmills and planing mills
do
Furniture and
fixtures
do
Stone, clay, and glass products
do
Glass and glassware, pressed or blown-do
Primarv metal industries ..
,
do
Blast furnaces, steel works, and rolling
mills
hours
Primary smelting and refining of nonferrous
metals hours
Fabricated metal prod, (except ordnance, machinery, transportation equipment) -hours _ .
Heating apparatus (except electrical) and
plumbers' supplies
hours. .
Machinery (except electrical)
do
Electrical machinerv
do
Transportation equipment
do
Automobiles „
do
Aircraft and parts
_ _ _ do
Ship and boat building and repairs, -do
Railroad equipment
. _
do
Instruments and related products.
do
Miscellaneous mfg. industries ,
do
Nondurable-goods industries
Food and kindred products
Meat products
Dairv products- ._ _
Canning and preserving
Bakery products
.
Beverages
Tobacco manufactures
Textile-mill products
Broad-woven fabric mills
Knitting mills
do
do
do
do
do
. _ do
do
do
do
do
do
_
Apparel and other finished textile products
37.3
37.7
37.0
36.5
36.4
,r
hours. .
Men s and boys' suits and coats.
_do
38.9
37.7
37.6
37.7
36.9
Men's and boys' furnishings and work
37.9
clothing .
hours
38.4
37.8
37.3
37.4
Women's outerwear
do
36.4
36.0
36.3
35.2
34.7
Paper and allied products
do
43.0
43.0
43.0
43.3
43.1
44.1
43.9
Pulp, paper, and paperboard mills. ..do..."
44.0
44.0
44.2
Printing, publishing, and allied industries
38.6
39.1
38.9
39.0
38.8
hours ._
Newspapers
do
35.7
36.4
36.0
36. 7
36. 5
Commercial printing
~~do
39.9
40.1
40.2
40.5
40.0
Chemicals and allied products
~_do
41.3
41.5
41.5
41.5
41.4
Industrial organic chemicals
do
40.3
40.9
40.8
41. 1
41.0
Products of petroleum and coal
do
40.3
40.5
40.5
41. 1
40.8
Petroleum refining
do
40.1
40.6
40.3
40.4
40.5
Rubber products
do
41.3
41.1
40.3
41.6
40.7
Tires and inner tubes
IldoIIII
40.4
40.8
40.7
41.7
40.0
Leather and leather products
do
39.4
37.4
39.3
37.8
38.2
Footwear (except rubber)
do-__I
39.1
39.4
36.7
37.2
37.8
T
Revised.
p Preliminary.
§Total includes State engineering, supervisory, a nd admini strative en ployees no t shown se parately.
p 40.5
P 38. 0
38.8
P 40.5
p 41. 4
P 39. 9
P 39. 4
P 40. 6
P 40. 0
p 38. 9
P 40. 5
P 36. 2
P 37. 9
P 36. 0
P42.0
^38.2
p 41.4
P 40.5
p 39. 8
P 38. 1
SURVEY OF CURRENT BUSINESS
April 19H4
Unless otherwise stated, statistics through
1952 and descriptive notes are shown in the
1953 Statistical Supplement to the Survey
S-13
1953
Febru-
ary
March
April
May
June
July
1954
August
Septem-
ber
October
Novem-
ber
Decem-
ber
January
Febru-
ary
EMPLOYMENT AND POPULATION—Continued
LABOR CONDITIONS— Continued
Average weekly hours per worker, etc.— Continued
Nonmanufacturing industries:
Mining:
Metal
hours -.
Anthracite
do
Bituminous coal
-do
Crude-petroleum and natural-gas production:
Petroleum and natural-gas production
hours -.
Nonmetallic mining and quarrying _. do
Contract construction
do
Nonbuileling construction
do
Building construction
do
Transportation and public utilities:
Local railways and bus lines t
__do _.
Telephone
do
Telegraph
__do
Gas arid electric utilities _. _
do. ..
Wholesale anel retail trade:
Wholesale traele
do
Retail trade (except eating and drinking
places)
hours
General-merchandise stores
do
Food anel liquor stores
do
Automotive and accessories dealers do
Service anel miscellaneous:
Hotels year-round
do
Launelries
do
Cleaning and dyeing plants
do
Industrial disputes (strikes and lock-outs):
Beginning in month:
Work stoppages
number-Workers involved
thousands In effect during month:
Work stoppages
..„,
number _
Workers involved
thousands
Man-days ielle during month
do
Percent of available working time
__ U. S. Employment Service placement activities:
Nonagrioultural placements
thousands
Unemployment compensation, State laws (Bureau
of Employment Security):
Initial claimsf
thousands _
Insured unemployment, weekly average*. ..do
Benefit payments:
Beneficiaries, weekly average
do
Amount of payments
thous. of dol
Veterans' unemployment allowances:^
Initial claims
thousands-Insured unemployment, weekly average
do
Beneficiaries weekly average
do
Amount of payments
thous. of dol
Labor turnover in manufacturing establishments*.
Accession rate. .-monthly rate per 100 employees _.
Separation rate, total
do
Discharge
do
Lay-ofT
do
Quit
do
Military and miscellaneous
do
42.9
34.7
32.7
43.1
26.6
33.1
43.2
25.3
32.1
43.8
31.0
34.4
43.7
36.8
36.5
42.7
34.1
34.4
44 0
25 2
37 3
44.0
28 5
34.6
43.2
29 6
36.2
'43.1
'25.6
32.6
'44.0
' 26. 2
' 33. 3
43.7
28.7
33.8
40.5
43.2
37.4
38.9
37.1
40.7
44.1
37.1
38.3
36.8
40.8
44.8
37.3
39.0
36.9
41.2
45.2
37.9
40.0
37.3
40.1
45.7
38.6
41.9
37.7
41.4
45.4
38.1
41 7
37.1
41.7
45 9
38 6
42 5
37 6
40.7
45.0
36 9
39 9
36 1
40.3
45.9
38.6
42 2
37.7
'41.4
'44.5
'37.2
'39.4
'36.7
'40.2
'44.0
36.8
'39 1
40.8
40.9
34 4
35 5
34 1
'45.4
38.3
41.5
41.2
' 45. 5
38.2
41.6
41.2
' 45. 7
38.3
41.6
41.1
' 46. 2
38.7
42.4
41.2
'46.1
39.0
42.0
41.5
'45.3
39 0
42.0
41.7
0
7
0
5
'44.9
39 4
42 1
41.8
'44.3
38 6
' 41. 6
41.5
44.1
'38.8
'41.2
'41.7
44.5
38.5
' 41. 1
'41.6
44 4
38 1
40 9
41.3
40.5
40.4
40.3
40.3
40.4
40.5
40 4
40 4
40 6
40.5
'40 7
40 4
39.2
34.7
39.1
45.0
39.2
34.7
38.9
45.0
39.1
34.8
38.8
44.9
39.0
34.7
38.7
45.0
39.4
35.4
39.3
44.9
39.9
36 2
39.9
44.9
39
35
39
44
8
8
9
6
39 1
34 8
39 2
44.3
38 9
34 6
38 3
44.6
'38.7
'34.5
'38.3
'39.2
36 3
' 38. 6
'44.4
39
35
38
44
42.3
40.5
39.4
42.1
40.6
40.2
42.5
40.8
40.5
42.1
41.5
41.9
42.0
40.9
41.3
42.2
40.1
39.2
42 3
39 9
38 9
42 0
40 2
40.0
42 3
40. 1
40. 1
'42 2
40.0
' 39. 3
' 41 9
40 6
39.9
42 1
39 7
38 7
350
120
450
180
500
275
525
270
500
250
475
260
450
230
375
110
350
190
250
100
200
80
250
80
200
50
550
200
1,000
.12
650
230
1,100
.12
700
350
2,500
.27
750
370
3,000
.34
725
400
3,750
.40
700
410
3,000
30
675
400
2,800
31
600
210
1,550
17
550
250
1,450
15
450
185
1,500
18
400
170
1,400
15
400
150
1,000
12
350
100
750
09
455
521
553
577
612
574
572
605
544
433
378
353
qqq
733
1,084
783
1,014
831
961
777
889
800
833
977
861
792
816
814
779
914
840
1 235
1,115
1 616
1,509
1 749
2,044
2,169
956
86, 827
930
92, 308
840
82 990
772
7? 144
734
72, 033
675
69 175
679
64 579
651
65 300
656
66 104
809
78 979
1,124
120 780
1, 592
158 418
17Q 984.
16
34
36
3,667
15
34
39
4,405
13
29
34
3 888
13
25
29
3 142
16
25
27
3,087
17
27
28
3 322
15
27
30
3 235
14
24
28
3 046
16
23
24
2 goo
24
31
32
3 096
33
45
47
5 043
39
64
35
r (}g
4.2
3.6
.4
.8
2.2
.4
4.4
4.1
.4
.8
2.5
.3
4.3
4.3
.4
.9
2.7
.3
4.1
4.4
.4
1.0
2.7
.3
5.1
4.2
.4
.9
2.6
.3
4.1
4 3
4
1i
2 5
3
4.3
4 8
4
13
2 9
3
4.0
5 2
4
1 5
31
3
3.3
4 5
4
18
21
3
2.7
4 2
3
9 3
15
3
2. 1
4 0
2
2 5
1 i
2.8
'43
2
9
0
45
38
42
41
1
5
0
2
1 340
1,864
78
QQ
T C CQQ
r9 g
I I
n 9 fi
V 2
p i n
WAGES
Average weekly gross earnings (U. S. Department
of Labor) :
71.63
All manufacturing industries
__ dollars _.
71.17
71.93
71 40
71 63
70 e»9
71 33
71 73
71 42
71 60
71 69
71 96
77.42
Durable-goods industries
elo
77.15
77 52
77 38
77 19
77 ^9
76 70
77 49
77 14
76 73
77 27
70 i q
78 88
r 7f\ 91
r 7fi Q/l
77.38
Ordnance and accessories
do
77 46
76 52
78 25
77 87
78 12
78 94
P 78. 78
Lumber and wood products (except furniture)
63. 96
67.48
64. 21
dollars _ .
65. 19
66. 10
66.34
66. 33
67. 08
64.96
66. 67
' 64. 08 '61. 70
P 63. 99
Sawmills anel planing mills
do
67. 16
63.34
63.43
r ft 5 3(5
64. 71
65.61
r f>4 24
65. 85
67 40
67 40
61 54
AO 70
62 73
62.67
Furniture and
fixtures
do
T ^o JO
63 19
63 65
62 58
60 89
62 58
64 12
r
69.29
Stone, clay, and glass products
do....
70. 69
70.21
70. 28
70. 86
70. 58
71.51
71. 10
72.10
' 71. 46
71.63
69. 70
P 70. 53
Glass and glassware, pressed or blown
66. 23
68.
40
dollars ._
67. 80
67. 89
68. 46
67.
08
68.
46
69.
17
69.
08
70.
13
'
69.
34
69.
03
O'J 0,4
T
r
r
Primary metal industries
do
83 21
84 87
84 23
83 22
82. 78
82. 78
81.54
p 78. 28
Blast furnaces, steel works, and rolling mills
r
85.89
dollars..
87.53
85. 89
84.63
86. 72
89. 76
90. 20
88. 04
90. 80
85. 46
' 86. 33
84. 58
Primary smelting and refining of iionferrous
metals
. dollars
79. 65
80. 10
79. 46
79.65
r «9 K.A
80 34
79 46
81 16
84 6'7
82 39
S!9 18
Fabricated metal prod, (except orelnancc, machinery, and trans, equip.) . _ . dollars
76. 80
77 28
77. 59
77 23
76 41
77 04
lleatiim apparatus (except electrical) and
74. 21
plumbers' supplies
.-dollars74.21
72. 98
74.48
73.31
72.98
72. SO
71. 76
74 5u
* 73. 63
71.60
83. 03
Machinery (except electrical)
__-do
82. 29
84.05
83. 46
82.88
81.73
SI 9S
82.3"
S,l f 8
b2. 7S
S3. SO
' 82. 40 " p~83. 21 ~
Electrical machinery
elo
71.28
72. 21
71. 40
71.86
70. 99
70. 5S
71. 6.J
71.69
71.51
72 3-)
' 70. 7 I P 7V22
r
85. 69
Transportation equipment
do.
85. 70
8,5. 70
85.49
84. 67
84. Sh
s."). 70
84. 23
85. S9
>-S4's4
S5. 88
8,5. 4 1
p S3. 13
Autornobihs
elo
87.99
88. 20
89. 23
88.83
67. 1,5
S7. 91
SS. ,5S
so. rs
SS. 13
' (s7. 02
89. .54
r
\ireraft and parts . . .
do
85.14
84. 18
83. 16
SI. 99
82. .59
X2. ,57
S3. til)
S4.03
S3 21
S 4. 03
82.
62
Ship and boat building and repaiiS-.-do
7b. 60
78.79
79. 4(1
80.19
SO. 19
SO. (»S
79. 90
78. 4.5
S2 37
78. 49
Kailroad ( quipinont
_eio
79. 98
si. 20
81.41
81.61
79. 79
77." 99
7--. 36
S'). 1 1
M.77
' SO. 70 r' M . 16
82. 7 1
I n s t t u m c n t s and related pioeiuctS--....elo
73.39
73. 74
72. 10
7.1 S7
73. 22
72. Us i
71 S6
7 k ,52
' 74.7,5
74. 7,5
P 73 S<)
Miscellaneous nifg. industiies
do
64.12 ,
64. 43
f>J. SO
64.74
64. 21
62. 33
i t 5. 19
63. o(>
65. 12
' oo. .53
* ,H 40
r
RoNised.
P Piohminai\.
i Ho\ isod to include onh p i n itel> opi r :tod linos; data shown in the March 1954 S RYE Y and cat hot issues co\ or hot h privately opemiod a nd government-operated lines.
dJanuary
1953, U.7 h o u i s .
IrtoMsc'd sotios. B< innnine \ \ i t h tho F o b t u u y 1954 ^ I R \ E ^ , data ha\ o boon m\ isod to exclude transitional (lai
eforo, more closoiy repiesent instances of nov
*\c\v sot i"> Compiled h> tho t . >>' D(pnrf m<»f if Lahor, Hiirtan of Lthplo'/ni'itt t
„ . it tor continent si U. S (excluding Alaska) 1
1 .
tutod lot the H t ios on n u m b e r ot continuod claims filed. Tho insured ui oniploN nioiit s<
d i i \ e d h.\ adjusting hi
he n u n i ' x of \ \ u k s of unem,>lo\ UK nt tor the 1m bet 1
u n e m p l ' > \ n < < nt and tho time tho claim is tiled, so i-hat the adjusted senos t o f e i s to the week in w
dually oc(
justed lor split \\c-ks in the m o n t h on the 1 asis of a 3-day \ \ t o k . \V eeklj avoiagos for l')5- a or r in the February 11
c f B e u m m m w i f M h e S o uiaiy 1U.51 Si n v t v (Hta for \ e t e i « > n s ' unemployment allow
or only unemployn
sat ion benefits und»r the Vet "pins Koa 1'u-h
Act ol 19",J. 'I ho f i - i n e s ior i i M t i i l claims evlude transition d olaini^; tho instnod unemi
figures exclude chi ns Loin '^ <
raiho id unoinpio\ m o n ' - i n ^ m a n e v pioaram^ io eliminate duplicate f o u n t s in the State <L
i ill o\ e; the number of be nolle i t ios aud the amount ol payiw i,ts
or not t h e I M J rnonts Hii-plouu nt nenefis u i ' d t r oithor state or i mioad instance prouiar
SURVEY OF CURRENT BUSINESS
S-14
10."4
19 54
1953
1952 and descriptive notes are shown in the
1953 Statistical Supplement to the Survey
February
March
April
May
June
July
August
September
October
November
63. 73
68.31
82. 51
67. 94
49. 95
65. 60
75. 41
47.49
52. 33
51.21
48. 73
December
February
January
EMPLOYMENT AND POPULATION—Continued
WAGES — Continued
Average weekly gross earrings, etc. — Continued
All manufacturing industries— Continued
Nondurable-goods industries
dollars. _
Food and kindred products
do _ _
Meat products
do
Dairy products
_-do
Canning and preserving
do
Bakery products
do
Beverages
do
Tobacco manufactures
do
Textile-mill products
do
Broad-woven
fabric
mills
do
TCnittin 0 " mills
do
Apparel and other finished textile products
dollars ..
Men's and bovs' suits and coats _ do
Men's and bovs' furnishings and work
clothing
~_
dollars- .
Women's outerwear
do
Paper and allied products _.. ._
do
Pulp, paper, and paperboard m ills. . do
Printing, publishing, and allied industries
dollars. .
Newspapers
do
Commercial printing
do
Chemicals and allied products
do
Industrial
orcronic chemicals
do
5
Product ? of petroleum and coal
do
Petroleum refining
do
Kubber products
do
Tires and inner tubes
do
Leather and le->the r products
__ . do..
Footwoar (except rubber)
do
Nonmnnnfaef urine industries:
Mininir:
Metal
do
Bituminous coal
do
Crude-petroleum and natural-gas production:
Petroleum and natural-Eras production
dollars..
Nomnetalh'e mining and quarrying
do
Contract construction.- . _ _ . _ . _ _ d o
Nonbnilding' construction
do
Building construction
_
do
Transpc rtation and public utilities:
Lo^al railnavs and bus lines j
„ _. do . .
Telephone
do
Tele sr rap h
do
Qns and electric utilities
do
Wholes-lie and r^tiil fideWholes ile trade, _
_
do
Retail trade (except eatin^ and drinking
pi-ices) _
_
dollars
General-merchandise stores _
do
Food and liquor stores
do
Automotive and accessories dealers.. _do
Finance, insurance, am' ieal estate:
Banks a^d tm^t compani'-s. .
do
Servino and miscellaneous;
Hotels, vear-round
do
Laundries
_.
do
Clean i'nT and dvi in 0 " plints
do
Average hourlv rross earnings (IT. S. Department
of Labor) •
All mamifacturin"' industries
dollars
Dnrable-^oods industries
do
Ordnance and accessories
do____
Lumber and wood products (except furniture)
dollars
Sawmills and planuier mills
do
Furniture and fixtures
_
do....
^tone, f^'\\, a,n<i "•lass products
do
62.88
64.71
70.00
67.61
53. 20
63. 04
71.51
45.39
54. 94
54.27
50. 05
63. 60
65. 28
71. 33
65.97
53.02
63. 65
71.96
47.63
54.80
53. 60
50.31
62.81
64.64
70.62
66. 10
51.61
63. 45
73.49
47.62
53. 84
53. 20
48.49
63.20
66. 17
71.86
67. 32
52. 26
64.02
76. 54
46. 99
53. 98
53. 73
48. 36
63. 52
67. 14
74.29
68. 39
51.44
65. 36
79. 66
46. 99
53. 72
53. 47
48.38
63. 76
66. 88
72 85
69. 73
54.14
65. 73
80. 60
47.87
53. 18
52. 93
47. 62
63. 76
65.83
72.67
68. 51
54.14
65. 41
79.19
47. 46
53. 04
52. 1 4
48. 63
63. 57
67. 20
76. 18
69. 84
55. 34
66. 88
80. 90
46.92
51. 65
50. 79
4(1 80
63. 50
67.23
77. 89
68. 26
54. 54
65. 67
77. 33
48. 07
52. 33
50. 94
49. 26
49.98
57.30
49.76
59. 13
47.73
56.78
47. 09
56. 93
48. 05
58. 67
48. 24
57. 41
49.78
60. 59
46. 98
57. 35
49.10
58. 64
48. 06
' 57. 48
r
41. 31
55. 69
71.81
77.26
41. 86
54. 45
72.31
77.44
41.58
51.84
71.81
77.62
41.03
50.34
72.24
77.44
41.51
50. 66
72. 41
78. 68
40. 96
52. 59
73. 44
SO. 10
41.78
54. 72
73. 61
79. 92
40. 68
49. 25
74. 30
80. 85
41 . 84
51.83
73. 96
79. 72
r
r
83.76
87.82
82.19
73.10
77.38
87. 45
91. 03
79.30
91. 80
53. 19
51. 61
85.24
89.28
83.84
73.87
79. 15
87. 89
91.71
80.29
93. 83
53. 84
52. 00
85.19
91.36
84.02
74. 29
79. 76
88.29
91.88
79.32
91.58
51.79
49.10
85. 80
92. 85
83.81
75. 1 2
79.73
89. 60
S4. 92
90. 36
S3. 60
76. 7S
81.59
92. 32
96. 00
78. 98
90. 45
51.82
49. 65
85. 97
90. 36
83. 81
75. 85
80. 79
92. 06
95. 00
76.81
87. 58
51.79
49. 24
86. 91
93. 03
84.80
77. 61
84.05
94. 12
97. 68
74. 8S
83. 54
48. 99
45. 11
86. 75
92. 93
85. 63
75. 81
80. 60
91.80
94. 71
75. 07
83. 16
49. 68
45. 67
r
78.' 18
91.30
51. 61
48.81
85. 36
92. 35
84. 00
75. 35
80. 36
88. 94
91. 94
78. 55
89 20
52. 33
49. 90
84. 08
86. 75
81.42
84. 48
65. 70
81.76
84.67
61.99
79. 61
86. 29
77. 19
84. 97
SO. 96
91.63
91.25
88 82
83 89
S4.97
92. 40
61 . 49
92.88
94. 16
70. 40
86.15
90. 29
73. 41
89. 78
88.29
70. 85
89.01
85. 19
89. 78
88. 73
72.77
88.67
84.26
89.79
88. 13
74.37
89. 15
85. 02
90. 04
88.99
75. 94
90. 58
87. 20
91.01
87. 02
76. 78
92. 74
77. 63
91.82
92. 16
91.64
93.83
79.41
94. 1 8
96. 05
93. 62
92. 39
79 20
90. 77
90. 97
90. 97
90. 27
80. 33
96. 1 1
97. 48
95. 76
' 75. 82
r
r
76. 78
63.20
73. 63
78. 50
T
78.
64.
75.
79.
08
63
90
52
91.34
91.99
r
r
r
63. 58
73. 46
77. 46
75. 99
63. 03
73. 63
77.87
69. 66
69.89
70.12
70. 93
71.10
72. 09
71.91
53. 70
38. 17
57. 48
71. 55
53. 70
37. 82
57. 57
72. 90
53. 96
37. 93
57. 81
74. 09
54.
38.
57.
74.
21
52
66
70
55. 16
39. 65
58. 9.",
74. 9S
56. 26
40. 54
60. 25
74. 9S
54. 61
54. 40
54. 47
54. 65
54. 28
54. 90
78. 37
65.13
75. 60
80. 22
77. 92
64. 35
74.76
81. 32
77. 40
64. 24
74. 76
81.34
r
78. 13
68. 16
77. -46
82. 76
r
r
r
r
r
r
40. 81
50. 76
'73.36
80. 08
r
86. 52
T 92. 57
85. 41
76. 59
81. 20
r
r
96. 46
r
r
85. 09
" 49. 82
T
45. SO
r
r
r
r
88. 82
96. 87
86. 67
77. 19
81.81
91 . 98
96. 05
75. 66
82. 43
52.03
49. 10
92. 21
71. IS
S3. 82
94. 39
76. 99
93. 00
r
90. 62
' 93. 59
r 90. 45
* 76. 12
r
92. 37
r
89. 93
r
93. 29
93. 43
71. 17
87. 03
80. 94
87. 98
* 77. 18
r
67. 90
r
73. 34
r
82. 98
r
r
r
r
77. 43
65. 84
r
82. 37
72. 50
72. 85
72.72
r 54. 95
38. 64
' 59. 37
r
74. 32
r
54. 49
39. 93
59. 44
55. 91
41.54
59. 2S
71. 16
55. 36
' 55. 33
r
55. 68
56. 1 7
r
' 39. 81
r
40. 60
r
46. 68
40. 00
39. 70
45. 2S
72. 67
56 12
39.74
60. 25
74.48
38. 98
60. 37
73. 10
55. 24
38. 75
5«. 98
74. 48
55. 00
55. 03
r
37. 89
40. 67
48. 19
38. 22
40. 08
47. OS
38. 40
39. 30
44. 69
38. 49
39. 10
44. 35
39. 06
39. 80
46. 40
39. 76
39. 70
46. 92
39. 67
r
40. 00
r 45. 9s
1.74
1.85
1.86
1.75
1 . 85
1.88
1.75
1.86
1 . 88
1. 76
1.86
l.*9
1 76
1.K7
1.91
1. 77
l.SS
1.S9
1.88
1.91
1. 79
1.90
1. 93
1.78
1.89
1.93
1.79
1.89
' 1.91
1 . 56
1 . 56
1.51
1.69
t. 57
1.57
1. 53
1.70
1. 59
1. 59
1. 53
1.71
I. 62
1.62
1 . .53
1.72
1.63
1.63
1 . 53
1.72
1.63
1.63
1 . 53
1.73
1 . 63
1.64
1.53
1.74
1.65
1. 66
1. 55
1 . 76
1.64
1.64
1 . 56
1. 7^
1.67
2. 02
1.71
2. 02
1. 72
2. 03
1. 71
2. 05
1. 72
1.72
2. 08
1. 76
2. 13
1. 74
2. OS
T
2. 10
2. 10
2. 10
2. 11
2. 14
2. 20
2. 20
2.27
2. 19
T
1.91
1.91
1. 91
1.91
1 93
1.95
1 . 97
2. 05
1 . 99
1.82
1>7
1.66
2.01
1.83
1.83
1 . S3
1.S4
1.S5
1.85
1.86
1.81
1.94
1.73
1.81
1.95
1.74
1.83
1 . 95
1.74
LSI
1.95
1 . 74
1.M2
1.95
1 . 7">
1 . S2
1.96
1. 76
1. S2
1.96
1 . 76
i.84
1 . 9S
1,77
1 . 85
1 . 99
1.77
Tnmspjrtation equipment^ _ .
do
Automobiles
do
A ircraffcand parts
do
SI tip and boat building and repairs. __ do
TV u'rorid equipment .„
do
I n s t r u m e n t s and ri elated products
do
Miscellaneous mf_ . industries
""do""""
2. 05
2.11
1.98
2. 00
1.97
1.76
1.56
2. 05
2. 11
1.99
2. 01
2. 01
1. 76
1. 56
2.06
2.12
1.98
2. 02
2. 03
1.75
1. 56
2. or,
2 0*
L>. 15
1.99
2. 01
•2. 03
1.7S
1. 56
2. OS
L'. 16
1 . 99
2. 04
2.01
2. 08
2.09
2. Hi
1.9*
2. 02
2. 02
I . 76
1 . 57
1.60
1.61
1. 57
2. 00
2. 05
•2. 03
1.7S
1 . 57
'2. 01
2. 06
2. 07
1.80
1 . 5S
2. 10
2. 16
2. 02
'2. 07
2. 07
1.80
1 . 59
1. 61
J 60
1 79
1. 56
1.34
1 58
1.87
1 61
1 5M
1 7(*
1 . 55
1.35
1 58
1 . 89
1 . 63
1 60
1 #4
1.58
{.34
1 60
1.94
1 62
1 69
1 85
1.58
1.36
1 59
1.90
1. 62
r
T
r
r
~:i. 16
r
1 . 79
1 . 90
1 . 93
r
1. 80
1.91
1.94
r- 1. 7P
' 1 . 90
'• 1.95
1. 57
1 . 56
1. 76
r- l.~56~
f I. 75
1.77
2. OS
' 2. 06
i 1. 58
1 . 59
1. 59
1 . 57
1.76
1. 63
1 . 56
1.76
r
1. 78
2. OS
r
2. 18
r
2. 1 8
2. IS
1 . 99
M . 97
1.99
r
1. 76
2. OS
1.87
1.88
r
1.84
1. 99
r 1.85
r
1.79
r
2 11
° 18
2. 04
2. 08
'2.10
r
1.81
1.61
] {V}
r \ 54
T
1 65
1 91
1.58
1 . 35
r
1 60
' 1.89
r
r
2. 00
1.80
2 10
2 17
2.02
2. 07
' '2. 08
1.81
1.60
r
1 65
r
| u^_
r
1.58
1.41
\ . 88
1. 89
r 1 . 88
1-85
2. 00
1 . 80 {
r 2. Ol'
P 1 81
7
r
r
"V7i.~82~
86. 40
'• S5. 57
90. 32
86. 00
r
76. 86 "V'77.~42~
81.41
* 91 . 53
'• 91.53
95. 34
r
74. 88
/ 77.61
S3. 32
r
51. 79
'- 52.58
49. 90
r
92. 40
r
64. 71
' 82. 25
r
i- 49. 32
39. 68
52. 90
72. 07
78. 55
90. 51
63. 49
81.17
r
r
37. 83
39. 58
45. 36
1 . 53
1.3.1
1 56
1.87
T
r
37. 47
39. 38
45. 02
1.58
Nonduriblv'-poo'ls industries
do
1 . 59
1. 60
1.59
1.59
1.60
Food and kimjre
1 products .
do
!. 61
1. 60
1.75
Meat product 1 do
1. 77
1. 77
1. 77
Dairy piodiifts
.
do
1 . .':,
1.54
1. 53
1.52
T
Cannin< tmd p, ^serving
do...
1.41
1.41
1.40
1. 31-'
1.53
Bakery products _. ..
do
1.54
1 . 55
1 . 53
1.S4
1. 77
Beverages
do
1.81
1.79
P Preliminary
s Sic n u u > n u . i U ' i "+" at. bottom of p. •5-13. Revised January 1953, $74.20.
' 47. 81.
55. 81
r
72. 32
•2. 17
48. 82
58. 19
40. 70
r 53. 61
73. 62
80. 08
r
37. 65
38 SS
43. 73
'
r
63. 53
' 63. 80
68. 71
f 67. 64
76.78
69.07
54. 98
65. 93
75. 24
' 45. 97 ""V46.~7('
r
51. 10
i 51.92
49. 24
47. 65
T
77. 70
65. 53
72. 80
81. 77
77. 53
66. 01
74. 05
82. 1 7
dollars..
Prunaix' rnef-tl industries
__.... do
Blast f'irnaees, steel woiks. and rolling mills
dollars .
Prima r \ '''pelting and refinina of nonfevrous
metals
__
dollars
Fabricated met 1 prod, (except ordnance,
machinery, transportation equipment)
dollars
Heating ir">-n-Mus ^except electrical) and
plumbers' MiD'ilies ...
dollars..
Machinery (exeunt electrical)
do
Electrical machines
do
r
r 64. 45
68.15
' 76. 54
r
68. 73
r
53. 44
r
66. 42
' 75. 39
r
49. 00
* 52. 61
"•51.34
r
48. 60
r
r
o 20
2. 04
2. 06
2. 11
1. 82
1.01
'> H
p ' l . 82"
> 1.61
1 65 \
1 68 .
.
1.61
1.47 1
1 6''
1 '. 90
f
i (^
i. vi
SURVEY OF CUERENT BUSINESS
April 10.'4
Unless otherwise stated, statistics through
1952 and descriptive notes are shown in the
1953 Statistical Supplement to the Survey
S-15
1953
February
March
April
une
May
July
1954
August
September
October
November
December
r I 25
January
February
EMPLOYMENT AND POPULATION—Continued
WAGES — Continued
Average hourly gross earnings, etc. — Continued
All manufacturing industries— Continued
Nondurable-goods industries—Continued
TTobacco manufactures
dollars
Textile-mill products
do __
Broad- woven
fabric
mills
do
Knittin0" mills
do
Apparel and other finished textile products
dollars _.
Men's and boys' suits and coats
do
Men's and boys' furnishings and work
clothing
.dollars
Women's outerwear
__do
Paper and allied products
_ __
-do
Pulp, paper, and paperboard mills -do _ . _
Printing, publishing, and allied industries
dollars. _
Newspapers
do
Commercial printing
do
Chemicals and allied products
do
Industrial organic chemicals
do
Products of petroleum and coal
- do
Petroleum refining
do
Rubber products
do
Tires and inner tubes
do
Leather and leather products
do
Footwear (except rubber)
. do_ __
Nonmanufaeturing industries:
Mining:
Metal
do
\nthracite
do.
Bitiiminous coal
__ do. _ _
Crude-petroleum and natural-gas production:
Petroleum and natural-gas production
dollars. .
Nonmetallic mining and quarrying. _. do ...
Contract construction
_
do
Nonbuilding construction _ . _
do _ _
Building construction
do
Transportation and public utilities:
Local rail wavs and bus lines J
do
Telephone
do
Telegraph
.
__ __do
Gas and electric utilities
do
Wholesale and retail trade:
Wholesale trade
do _ _
Retail trade (except eating and drinking
places)
- dollars
General-merchandise stores.
_ do _.
Food and liquor stores
do _
Automotive and accessories dealers, .do
Service and miscellaneous:
Hotels, year-round
.. do
Laundries
_.
do __
Cleaning and dyeing plants
do
Miscellaneous wage data:
Construction wage rates (ENR):§
Common labor
dol. per iir
Skilled labor
_ _._
. ... do _ _
Farm wage rates, without board or room (quarterly)
dol per hr
Railway wages (average, class I)
do
Road-building wages, common labor
do
r
.23
.37
.35
.30
1.26
1.37
1.34
1.30
1.28
1.37
1.34
1.30
1 27
1.37
1 34
1.30
1.27
1.36
1.34
1.29
1.28
1.36
1 34
1. 2K
1
1
1
1
22
36
33
29
1 20
1 37
1 34
1 30
1 22
1 37
1 33
1 31
1 24
1 37
1 33
1 31
r I 33
r 1 31
.34
.52
1.32
1.52
1.29
1.51
1.29
1.51
1.32
1.59
1.34
1.56
1.36
1 62
1.35
1 62
1.36
1 62
1.35
1 61
1.09
1.53
1.67
1.76
1.09
1.50
1.67
1.76
1.10
1.44
1.67
1.76
1.10
1.43
1.68
1.76
1.11
1.46
1 . 68
1.78
1.11
1.52
1.70
1.80
1. 12
1 55
1 70
1 . 80
1.13
1 52
1.74
1. 85
1.14
1.52
1.72
1.82
2.17
2.46
2.06
1.77
1.92
2.18
2.48
2.07
1.78
1. 94
2.19
2.51
2.09
1.79
1.95
2.20
2.53
2.09
1.81
1.94
2.20
2. 53
2.10
1.82
1.96
2.20
2.51
2.09
1.8o
1.99
2.21
2 51
2 09
1 85
1 99
2.24
2 57
2 12
1 87
2 06
2.23
2 56
2 13
1 84
2 01
2.23
2 55
2 13
1 85
2 01
••2.26
r 2 59
2.17
2.27
1.92
2.25
1.35
1.31
2.17
2.27
1. 93
2.25
1.37
1. 33
2.18
2.28
1. 93
2.25
1.37
1.32
2.18
2.28
1.94
2. 26
1.38
1.33
2.18
2.27
1.93
2 23
1.37
1.32
2.23
2. 33
1 . 95
2 25
1.36
1.31
2
2
1
2
1
1
2 29
2
2
1
2
1
1
2 27
2 37
1 92
2 96
2 35
1 93
2 21
24
34
93
24
37
32
9 4Q
1 92
2 21
1 38
1 3?
f
25
35
Q2
20
38
3°
T
r
1.96
2.47
2.47
1.96
2.45
2.48
1 97
2.49
2.47
1 99
2. 49
2. 50
2 08
2 46
2 47
<> ] (\
2 44
2 49
) 14
2 47
2 4q
2 48
2 48
2.18
1.64
2.38
2.19
2 42
2.18
1.65
2.39
2.20
2.44
2.16
1.66
2.39
2.18
2.44
2.16
1.68
2.39
2.18
2.44
2. 17
1.68
2.39
2.18
2 44
2.24
1.71
2 41
2.21
2 47
2.25
1.73
2 44
2 26
2 49
2.27
1.76
2 46
2 28
9 52
2. 24
1.75
2 49
2 31
2 54
1.67
1.67
1.65
1.77
1.89
1. 68
1.65
1.77
1.91
' 1. 69
1.67
1.79
1.93
' 1.70
1 67
1.80
1 93
72
66
78
96
r 1 74
r 1 75
T
1.66
1.77
1.88
1 71
1 78
1 98
r
1.72
1.73
1.74
1.76
1.76
1 78
1 78
1 79
1.37
1.10
1.47
1.59
1.37
1.09
1.48
1.62
1.38
1.09
1.49
1.65
1.39
1.11
1.49
1.66
1 40
1.12
1. 50
1.67
1 41
1.12
1 51
1.67
1 41
1 11
1 51
i! 67
1 42
.89
.96
1.11
.89
.97
1.12
.89
.97
1.12
.90
.98
1.15
.91
.98
1. 14
91
98
1 14
91
98
1 14
Q3
1.824
2.950
1.824
2. 955
1 877
3 021
1 ^21
2.979
3 Of>9
1 91
3 073
.85
1.862
1.40
1. 877
1.867
89
1 861
1.52
1 877
1 883
1.817
1.821
2.946
2.949
1. 902
1.857
1 852
r
I
1
1
1
72
65
78
95
r ]
1
1
1
1
73
1
^4
1 98
i r>
1 54
1.65
99
1 16
9
9 ()C)
r
1 27
1 37
1 32
1 32
v 1 2Q
p 1 37
r 1 59
1.36
'1.37
1 59
pl.37
1 14
1 51
1 72
1.82
1 15
1 52
1 72
1.81
r
r
r
2 14
1 go
2 01
r 2 21
1.96
2.50
2.49
r
1.14
1 48
1.71
1.82
r
1 37
2. 25
2 53
2 15
p2. 24
r 1 87
v ] 87
2 01
r 2 26
2 36
r 1 93
2 21
1 38
1 32
r ] 38
r 1 37
1 32
1 32
9
10
2 48
9 49
r 2 10
2 11
2 48
2 48
2. 25
1 73
2. 29
1 74
2 53
9
28
2 58
2. 28
1 73
9
47
2 47
r
r 2 5Q
r 2 30
r 2 51
r 2 55
r 9 57
1
1
1
1
T 2 30
r 1 74
1
1
1
1
r ] 78
1 79
1 79
r i 79
1 80
1 42
1 12
1 54
1.67
1
1
1
1
r
1 43
1 17
1 56
1.61
1 71
1 98
l 39
r 1 JO
1 54
1 63
1 17
T i 00
1 17
95
1 00
1 17
1 927
3 08 r>
1 933
3 086
1 9° 3
'4 086
1 944
3 095
77
1 895
1 57
1 928
1 908
90
1 943
1 61
r
94
99
117
r 94
r 1 Q()
r
r 95
v 2 26
P i 95
v 1 38
75
72
78
98
75
75
78
99
42
12
55
67
v 1.71
1 944
3 09 5
FINANCE
-
1
BANKING
Acceptances and commercial paper outstanding:
Bankers' acceptances _ _ .
mil. of dol
Commercial paper
do
Agricultural loans outstanding of agencies supervised by the Farm Credit Administration:
Total ..mil. of dol._
Farm mortgage loans, total
do
Federal land banks
do
Land Bank Commissioner
do
Loans to cooperatives
do
Short-term credit
do
Bank debits, total (345 centers) f
New York City. .
6 other centers 9
do
__ do
do
490
511
386
720
129, 103
45, 749
28, 126
468
507
455
464
2, 253
1, 128
1, 106 _ _ _ '
9
2
365
700
153,355
53, 898
35, 339
417
441
|
""__"
333
794
313
825
145, 507
52, 038
32, 742
141,981
428
408
2, 330
1 , 1 56
l] 130
20
320 !
855
153,840
435
429
478
451
515
475
535
-JO
oc/
2 310
i 1 77
J, 111
319
860
312
8,54
1. 1.57
19
331
809
147,957
134, 385
45, 516
99 958
147, 099
54 888
31 422
50, 255
56, 623
51' 7QQ
32, 283 1
33 S07
29' ««•>.
Federal Reserve banks, condition, end of month :
Assets, total
mil. of dol. _
51, 493
50, 202
50, 558
50, 389
50, 243
50, 400
49, 994
51, 130
Reserve bank credit outstanding, total.. .do
20, 194
24, 927
25, 546
25, 589
25, 414
20,170
25, 958
26, 252
Diseoun i s and ad vances
do
485
1,014
1,309
732
04
644
343
329
23, 875
I ' n i i e d States Government securities. _do
23, 800
23, 880
24, 246
24,746
24,964 !
24.989
25. 235
Gold certificate reserves..
do
21, 480
21,307
21,383 1 21.350 !
21,286
21,085 !
20.993
20.933
Liabilities, total
do
51, 493
50, 202
50, 558 !
50, 389
50, 243
50, 400
49. 994 j
51. 130
I )eposits, total
do
20, 421
21,770
21,055 i
20,976 J 20,396 '
21,008
20J 623 i
2o! 815
Member-bank reserve balances
do
20,511
19, 322
19,740|
20,009'
19,501'
19,607
19,278'
19 309 :
Excess reserves (estimated)
do
715
—285
351 i
800 :
102 :
590
470 '
493 '.
Federal Reserve notes in circulation
do
25, 681
25.560
25,598 ;
25,671 !
25,831
25,872
25,983 i
20.033 ;
Reserve ratio
percent. _
45.3
46. 5
45. 8 i
45. 8
46. 0
44. 9 ;
45. 0 :
44. 7
' Revised.
v Preliminary.
J revised scries. See note marked "J" at bottom of p. S-13. Revised January 1953, $1.06.
§ Males as oi March 1, 19.54: Common labor, $1.944; skilled labor, $3.100.
t Revised series. Bank debits have been revised to include additional centers and to represent debits to demand deposits. Data prior to
9 Includes Boston, Philadelphia. Chicago, Detroit, San Francisco, and Los Angeles.
r-i 7/
01
574
552
580
620
54.
70
9 189
1 , 1 97
1, 180
17
373
020
opn
019
35
64
372
/ 14
378
149.1)06
140.992
108, 596
01 ' T"C
!, ,' '„;.
'OO,
? r ' '00
2, ?Li
50, 901*
20, 550
413
25, 348
20, 897
50.909
21 ' 030
19460
' «34
20.134
44 3 '
51, 150
26, 133
309
25, 095
21.34K
51.1.50
20. 009
19.434
347
20. 455
45 3
52,31.5
26, 880
2S
54 1 ."9
61, i / o
• HI, 4 (i
21^354
.52,315
21,422
2!), 100
763
20, 558
44. .5
154, 294
02 306
141,93;
50, 509
25, 437
156
24, 039
21, 274
50 509
20, 088
19,384
308
25, 885
45.7
50, 69
25, 08*
on QUO
un/;
O\J,
December 1952 will be shown later
56 IL
24, 50*
21, 27(
50, 09
20, 93'
19,411
59
25, 75r
4.5. (
SURVEY OF CURRENT BUSINESS
S-16
Unless otherwise stated, statistics through
1952 and descriptive notes are shown in the
1953 Statistical Supplement to the Survey
April 1054
1954
1953
February
March
April
May
June
July
August
September
October
November
December
January
February
FINANCE—Continued
BANKING— Continued
Federal Reserve weekly reporting member banks,
condition, Wednesday nearest end of month :f
Deposits:
Demand, adjusted
mil. of dol._
Demand, except interbank:
Individuals, partnerships, and corporations
mil of dol
States and political subdivisions
do
United States Government
do
Time except interbank, total
do
Individuals, partnerships, and corporations
mil. of dol
States and political subdivisions
- do _ _
Interbank (demand and time)
do
Investments, total
do _
U. S. Government obligations, direct and
guaranteed, total
mil. of dol
Bills
_ ...
do....
Certificates
. _ _ do
Bonds and guaranteed obligations
do
Notes
do _
Other securities
do
Loans (net), total
do
Commercial, industrial, and agricultural. .do
To brokers and dealers in securities
do
Other loans for purchasing or carrying securities
mil. of dol Real-estate loans
do
Loans of banks
do
Other loans
do
Money and interest rates:cf
Bank rates on business loans:
In 19 cities
percent
New "Vork Citv
do
7 other northern and eastern cities
do
53, 811
51, 802
54, 176
53, 708
52, 820
53, 395
53, 059
52, 814
54, 692
54, 376
56, 217
55, 588
53, 913
55, 342
3,790
3, 309
17, 622
52, 785
3,828
3,934
17, 698
54, 608
4,241
1,426
17, 792
54, 185
4.041
1, 356
17, 917
54, 263
3, 975
2, 469
18, 068
54, 082
3, 736
5, 292
18, 085
53, 699
3,834
4,639
18, 093
54, 639
3, 711
4,434
18, 253
55, 965
3,612
2,346
18, 426
55, 727
3, 685
3,410
18, 383
57, 817
3, 963
2, 594
18,718
55, 831
4. 093
18,' 779
54, 791
3,908
2,424
18, 917
16, 641
783
11, 863
38, 936
16, 726
777
11, 983
37, 180
16, 799
803
11, 382
36, 864
16, 901
829
11,734
36, 542
17, 052
826
12, 359
36, 896
17, 074
822
11, 568
40, 225
17. 083
823
12, 056
39, 318
17, 259
804
12, 452
39, 196
17,374
865
12,773
39, 244
17,311
882
13,062
40, 254
17, 596
932
13,860
40, 282
17.619
970
12,948
40, 697
17, 734
994
12, 983
40, 133
31, 478
3,156
2,271
20, 123
5,928
7,458
38, 775
22, 869
1, 459
29, 547
1, 701
2,115
19, 881
5, 850
7, 633
39, 647
23, 269
1,561
29, 249
1, 583
2,038
19, 857
5,771
7, 615
39, 437
23, 133
1,540
29, 144
2. 043
1, 850
19, 599
5, 652
7,398
39, 439
22, 690
1, 547
29,501
2. 514
2,090
19, 356
5, 541
7, 395
39, 649
22, 585
1,719
32, 705
2, 855
4, 985
19, 425
5,440
7, 520
39, 381
22, 643
1,830
31,797
2,289
4, 705
19, 436
5, 367
7, 521
40, 067
22, 965
1,850
31,663
2,317
5, 522
17, 250
6, 574
7, 533
39, 705
23, 103
1,763
31,795
2,388
5, 502
17, 251
6, 654
7,449
40, 294
23, 301
1,663
32. 792
2 394
5, 399
18, 541
6, 458
7, 462
40, 268
23, 134
1,877
32, 800
s!303
18, 517
6,411
7, 482
41,020
23, 380
2, 248
32,989
2,517
4,764
18,952
6, 756
7,708
39, 963
22. 638
2,180
32, 292
2, 084
4, 097
21,313
4,798
7,841
39, 401
22, 407
1,907
795
6,147
708
7,405
808
6,176
777
7,665
789
6,214
611
7,760
779
6,257
930
7,847
755
6,302
948
7,960
763
6, 326
446
7,992
732
6, 365
762
8,016
726
6,397
402
7,935
724
6,438
806
7,983
748
6, 449
703
7,978
868
6,481
646
8,019
826
6, 486
541
7. 924
811
6,478
679
7,754
2.66
2.71
4.17
3.54
3.31
3.50
3.90
2.00
2.72
4.17
2.00
2.72
4.17
2.00
2.97
4.17
2.00
2.97
4.17
3 76
3.51
3 79
4 10
2.00
2.97
4.17
2.00
2.97
4.17
1.75
2.56
4.17
1.88
2.31
2.63
2. 63
1.88
2.36
2.63
2.63
2.018
2.42
o ejcq
2.00
2.72
4. 17
3.73
3. 52
3.71
4.05
2 00
2'. 74
4.17
2.00
2.79
4.17
2.00
2.86
4.17
3.74
3.52
3.71
4.10
2.00
2.93
4.17
1.88
2.44
2.90
2.80
1.88
2.68
3.22
3.10
1.88
2.75
3.25
3.13
1.88
2.75
3.25
3.13
1.88
2.75
3.25
3.13
1.88
2.74
3.25
3.13
1.88
2.55
3.25
3.13
1.88
2.32
3.25
3.13
1.88
2. 25
3.25
3.13
1.88
2.13
3.25
3.13
1.69
2.00
3.25
3.13
2.082
2.46
2.177
2.61
2.200
2.86
2.231
2.92
2.101
2.72
2.088
2.77
1.876
2.69
1.402
2.36
1.427
2.36
1.630
2.20
1.214
1.97
.984
1.84
13, 421
2,524
13, 550
2,510
13, 626
2,496
13, 702
2.477
13, 841
2,458
13,881
2,438
13, 920
2,419
14, 014
2,402
14, 056
2,388
14, 141
2,374
14,341
2, 360
14, 442
T 2, 344
14, 500
P 2, 326
mil. of dol. _
do
do
do
do
do
25, 504
18, 982
8,480
5, 208
1,404
3,890
25, 946
19,391
8,799
5, 217
1,416
3,959
26, 455
19, 767
9, 111
5,217
1, 435
4,004
27, 056
20, 213
9, 432
5,272
1,462
4,047
27,411
20, 635
9 692
5, 333
1, 493
4,117
27, 581
21,004
9. 973
5, 351
1,516
4,164
27, 810
21,218
10, 136
5, 362
1, 534
4,186
27, 979
21,347
10, 232
5, 352
1,562
4,201
28, 166
21, 486
10,337
5, 366
1, 585
4,198
28, 252
21, 586
10,358
5,406
1,604
4,218
28, 896
21,807
10,289
5, 605
1, 606
4,307
28, 125
21,444
10,084
5, 495
1, 587 i
4.278 !
27, 478
21, 151
9,915
5,377
1, 570
4, 289
do
do.
do
_. do
... d o _ _ _ _
do
do
do__
do
do
15, 910
7,797
5, 031
851
2,231
3,072
1, 023
822
324
903
16, 380
8,059
5, 174
880
2, 267
3,011
974
812
336
889
16, 800
8, 286
5,312
906
2, 296
2, 967
925
807
348
887
17 222
8i 491
5, 480
'928
2, 323
2,991
933
809
362
887
17, 621
8, 675
5, 633
18, 000
8, 818
5, 816
988
2,378
3, 004
923
812
386
883
18, 205
8,879
5,924
1,009
2, 393
3, 013
931
813
396
873
18, 328
8, 893
6, 005
1, 029
2, 401
3,019
943
811
399
866
18, 439
8,908
6, 093
1,041
2,397
3,047
957
812
406
872
18, 495
8,881
6,147
1,050
2.417
3, 091
983
826
408
874
18, 534
8, 856
6, 147
1,064
2,467
3,273
1,068
866
407
932
18. 276
8, 723
(i, 002
1,043
2, 448
3, 168
1,031
836
400
901
17, 999
8, 534
5, 974
1, 055
2, 436
3, 152
1, 094
814
393
851
6, 776
6, 688
6. 522
6, 577
6, 843
6, 632
6, 555
6, 592
6, 680
6, 666
Noninstalment credit, total J
do
2, 079
2, 246
2, 294
2, 197
2, 118
2, 211
2, 131
2,131
2, 130
2,100
Single-payment loans ._
do._
2,
682
2, 705
2, 763
2, 781
2,716
2, 668
2, 613
2,811
2; 678
2, 840
Charge accounts
do
1, 793
1, 726
1, 793
1, 760
1, 786
1, 798
1, 786
1,731
1,738
1, 726
Service credit . _ _
._
do
By type of holder:
2, 246
2,211
2, 079
2, 131
2, 294
2,118
2,131
2.197
2, 130
2, 100
Financial institutions
do
2, 705
2, 682
2, 781
2 678
2, 613
2, 668
2, 716
Z 763
2,811
2,840
Retail outlets
_
_ _
_
do
1. 793
1, 700
1, 726
1,731
1,793
1, 786
1, 786
1, 70S
1, 738
1, 726
Service credit
do
Instalment credit extended and repaid: 9
Unadjusted:
2 602
2 605
2, 713
2, 436
2, 670
2, 389
2, 4S6
2 154
2,297
2 580
F\t'end n d total
do
1, 258
1, 089
1.121
1, 226
1,044
1,281
1, 126
974
1.219
1,218
\utomobile paper
do
625
6°2
619
648
657
687
507
(if iS
658
646
Other consumer-goods paper _
do
754
677
699
775
704
764
675
697
691
603
All other
do
2, 233
2 292
2, 260
2, 229
2,134
2,304
2, 197
2, 248
2,347
2,023
Repaid total
do
945
' 963
962
946
897
993
959
953
837
1.016
\utomobile paper
do
604
635
648
626
608
587
648
603
Other consumer-goods pancr
do
606
6.54
638
635
684
651
632
694
034
599
677
663
All other
do
Adjusted:
2, 358
2, 546
2, 393
2, 713
2, 458
2,498
2, 409
2, 485
2, 441
2, 585
Extended total
do
1,044
1,102
1,142
1, 168
1,090
1, 236
1,117
1, 248
1, 08(
1,117
Automobile paper
do
600
662
0*9
621
675
589
710
O t ' i o r consumer-goods paper
do
628
672
631
696
719
694
721
693
707
703
687
730
VllolK'i*
do
2 939
2,195
2, 273
2, 270
2, 183
2, 252
2, 21)4
2, 1S4
2, 173
Eenaid, total
do
92 1
967
955
' 947
9* 12
909
939
1, 000
' O''.o
Auiomobilo paper . . ...do _
609
643
032
(,'•('.->
022
611
()1(,
610
044
<>33
( 'ther fonsumer-'ioods paper.
. -__'lo__ _
685
U'«M
034
053
657
645
657
653
663
A l l o t ! —'
_ . d o ...
r
Revised.
v rivliminary.
tRevised bocinning 1952 to expand the coverage of the series by making a net addition of 8 banks. Revisions for January-May 1952 will be shown later.
d*For bond yields see p. S-19.
tDath r«o< inninc 1952 have been revised in accordance with recent benchmark materials; revisions for January-SeDtember 1952 will be shown later.
9 For a <1< senj'iion of these new data and for figures prior to February 1953, see the January and March 1954 issues of the FEDERAL RESERVE BULLETIN".
7, 089
2, 127
3', 249
1,713
6. 681
2, 083
2. 893
1.705 i
6,
2,
2,
1,
2,127
3, 249
1,713
2, 0*3
2. 893 i
1. 705 I
2, 054
2, 550
1. 723
2, 598
947
821
827
1, S69
75( )
517
6(!2
2 o;; )
1, 864
776
470
Discount rate (N. Y F. R. Bank)
do._
Federal intermediate credit bank loans
do
Federal land bank loans
do
Open market rates, New York City:
Acceptances, prime, bankers', 90 days ._ do
Commercial paper, prime, 4-6 months
do
Call loans, renewal (N. Y. S. E.)
do
Time loans, 90 days (N. Y. S. E.)
do
Yield on U. S. Govt. securities:
3-month bills
-- do
3-5 year taxable issues
do
Savings deposits, balance to credit of depositors:
New York State savings banks
mil. of dol._
U. S. postal savings
- do_ . _
j
_ -
CONSUMER CREDIT (Short- and Intermediate-Term )
Total outstanding, end of month
Instalment credit, total t
Automobile paper
Other consumer-goods paper
Repair and modernization loans
Personal loans
By type of holder:
Financial institutions, total
Commercial banks
Sales-finance companies
Credit unions
.. .
Other
_..
Retail outlets total
Department stores
Furniture stores
Automobile dealers
Other
9f>9
2, 351
3,01-1
937
812
892
l!oir.
!
I
i
i
327
054
550
723
618
'Ui5
588
(124
625
7:i» .
(','27
050
2. VS1
2.211
2, 243
919
5*6
2. 31 1{
2, 3 JO
1, OJ8
t.VJ
680
1,'or
t>0i
«'•*' 1
S-17
SUKVEY OF CURRENT BUSINESS
April 1954
Unless otherwise stated, statistics through
1952 and descriptive notes are shown in the
1953 Statistical Supplement to the Survey
1954
1953
February
March
April
May
June
July
August
September
5,153
4, 475
6 402
5, 988
October
November
December
January
2 894
5 144
4 605
5 403
5 132
4 619
4 458
i 6 468
5 444
4 133
3 538
5 408
6 336
1 294
5 058
1 201
3,001
1,468
February
FINANCE—Continued
FEDERAL GOVERNMENT FINANCE
Budget receipts and expenditures: §
Receipts total
Receipts, net 9
Customs
_
Income and employment taxes
Miscellaneous internal revenue
All other receipts
mil of dol
do
do_
do
_
do
do
Expenditures, total 9
Interest on public debt
Veterans Administration
National defense and related activities
All other expenditures
do
do
do
do
do
Public debt and guaranteed obligations:
Gross debt (direct), end of month, total _do
Interest bearing, total
do
Public issues
do
Special issues
_ -- -- do
Noninterest bearing
do
Obligations guaranteed by U. S. Government,
end of month
mil. of doL.
U. S. Ravings bonds:
Amount outstanding, end of month, _ do
Sales, series E through K
do
Redemptions
do
Government corporations and credit agencies:
Assets, except interagency, total
mil. of dol_.
Loans receivable, total (less reserves)
do _ _
To aid agriculture
do
To aid home owners
do
Foreign loans
_
_do__ _
411 other
do
Commodities supplies and materials
do
U S Government securities
do
Other securities
do
Land structures, and equipment
do
All other assets
_
do
Liabilities except interagency, total
Bonds notes, and debentures
Other liabilities
Privately owned interest
U. S. Government interest
6,300
« 5, 479
43
5,294
856
107
11, 870
10, 502
« 5, 595
311
349
3,501
« 1, 434
6,187
1,471
3,891
1,749
267, 584
265, 489
226, 187
39, 302
2,094
264, 485
262, 380
223 025
39, 354
2,105
264, 590
262, 550
223 077
39, 474
2 040
50
51
52
52
52
63
63
64
66
74
76
75
77
58, 368
414
368
58, 468
440
430
58, 509
382
426
58, 014
371
968
57. 977
370
542
57, 962
402
541
57, 940
371
480
57, 882
368
514
57, 860
384
489
57 889
368
438
57 934
423
514
57 918
561
704
57 960
515
560
56
4,044
2,849
54
10, 719
3,021
993
102
563
364
3,789
5,140
880
90
4,380
51
3,998
922
169
6 362
6,241
372
351
179
350
3,746
1,966
266, 520
264, 445
224 735
39, 710
2,075
30, 564
18, 089
5,671
9,744
51
9,179
939
155
7 988
1,882
349
4,056
1,701
266, 071
263, 946
223 408
40, 538
2 125
3,619
3,293
52
2,395
937
235
6 052
237
369
3,890
47
4,011
955
140
5 948
206
351
1,556
3,519
1,873
272, 669
270, 603
230 009
40 594
2 066
273, 206
271, 145
230 157
40, 988
2 061
36, 153
17, 637
50
5 218
981
152
6 066
560
327
3,787
1,392
272, 937
270 744
229 785
40 958
2 193
2,430
37, 141
18, 502
5,512
2 986
8,010
' 2 246
2 259
2 586
3 429
7 911
2 454
1,155
3 162
1 182
1,979
3 381
1 306
2 075
26, 938
32, 576
33 335
4,997
2,777
2 914
7,798
7,713
' 2, 088
1, 259
' 2, 154
2 201
2,645
3,427
3,240
2,588
3 430
7 867
1,904
3,224
__ do
do
do
do
do
10, 323
2,069
401
415
2,645
51
1,698
1,019
47
3 947
125
968
182
5 462
5 333
354
340
3,647
164
349
3,540
273, 386
271, 291
230 403
40, 888
2 095
275, 209
273 128
232 115
41 013
2 081
1,121
1,280
48
919
304
376
3,465
275
272
231
41
2
168
881
684
197
287
39
749
293
41
860
159
i 4 707
245
343
274
272
231
41
2
849
632
623
009
216
372
345
274
272
231
41
2
782
536
466
070
246
424
LIFE INSURANCE
Assets, admitted:
All companies (Institute of Life Insurance), estimated total
mil, of (\n\
Securities and mortgages
-_
do
49 companies (Life Insurance Association of America) total
.- mil. of dol
Bonds and stocks, book value, total
do
Govt. (domestic and foreign), total __. do. _ _
U S Government
do
Public utility
do
Railroad
do
Other
do
73, 943
66, 269
74, 295
66, 598
74, 686
67, 035
75, 063
67, 330
75 403
67 698
75 855
68 105
76 244
68' 337
76 612
68' 709
77 121
69 124
77 552
69 478
78 201
69 992
78, 866
70, 544
79, 251
70, 884
' 65, 079
r 40, 631
' 10, 982
8,908
65, 362
40, 778
10, 791
8,711
11, 659
65, 686
41, Oil
10, 816
65, 997
41. 123
10, 692
8, 726
11, 760
3,412
15, 259
66, 262
41, 277
10, 602
8 676
11 827
3 412
15 436
66, 621
41, 451
10, 564
8 634
11 897
3,418
15 572
66 944
41, 531
10 565
8 634
11 952
3 423
15 591
67 294
41, 739
10 527
8 585
12 043
3 429
15 740
67, 685
41, 976
10, 517
8 566
12 132
3 451
15 875
68, 046
42, 120
10, 476
8 480
12 213
3 461
15 971
68 587
42, 317
10 435
8 427
12 295
3 484
16 102
68, 989
42, 607
10, 509
12 325
69, 337
42, 801
10, 541
8,414
12, 447
16 267
16, 307
' 11, 611
3,402
' 14, 635
3,403
14, 925
8,734
11. 708
3,412
15, 075
8,407
3,505
3,507
r774
793
759
711
750
707
Cash
_ .
do .
776
726
889
777
789
911
776
19, 525
18, 306
18, 182
' 17, 888 18, 038
18 444
18 619
Mortgage loans, total
do
18 950
19 410
18 716
19 098
18 818
19 321
1,685
1
584
1,541
1,
524
1
564
1 599
Farm
do
1 615
1 648
1 654
1 674
1 628
1 638
1 666
16, 722
' 16, 364 16, 496
17, 840
16, 618
16 845
Other
-do
17 302
17, 004
17 444
17 736
17 087
17 180
17' 655
2, 351
2,341
2,329
2,460
2,365
2. 318
2,374
Policy loans and premium notes
do
2,413
2,387
2,447
2,425
2,402
2,436
1,694
1,669
1,778
1,687
' 1, 664
1 702
Real-estate holdings .
do
1,707
1 745
1 726
1 752
1 769
1 732
1 740
1,755
1 763
1,797
1 804
Other admitted assets
do
1,980
1 767
1 743
1 824
1 868
1 827
1 795
1 875
1 862
Life Insurance Agency Management Association:
Insurance written (new paid-for insurance) :
2,784
3,136
2,674
3,411
3,269
2,934
3,243
Value, estimated totalj
mil. of dol
2,880
3,055
2 772
2 867
3 782
2 594
657
427
518
677
437
600
Group and wholesale^
_ _ do
407
'504
477
477
550
1 105
450
534
583
543
608
543
537
Industrial! _ ..,
do
562
499
519
526
549
477
432
2,049
1,713
2,171
1,958
2,010
1,810
2 100
Ordinary, total cf
do
1 911
1 956
1 776
1 837
2 200
1 712
141
117
131
137
124
138
New England
do
128
126
116
110
128
144
122
412
483
519
487
439
484
Middle Atlantic
do
431
460
371
395
450
490
418
460
444
371
449
427
402
East North Centraldo _
436
424
383
398
426
467
375
165
174
140
172
171
151
West North Central
do
172
160
155
156
153
189
143
193
245
241
247
237
195
South Atlantic
do
233
237
222
219
233
263
180
82
91
91
67
72
85
75
East South Central
_ _ _ _ do
83
85
78
83
84
88
156
178
200
191
195
West South Central
.
do
168
176
170
170
164
177
197
153
72
73
78
75
56
Mountain
do
68
72
60
67
68
69
86
59
191
242
226
250
237
Pacific . .
do--_
197
232
234
221
222
209
260
191
7nstitute of Life Insurance:
Payments to policyholders and beneficiaries, estimated total
thous. of dol_. 343, 743 410, 421 365, 145 355, 232 383, 861 361, 977
374, 908
359, 570
345, 385
352. 150
383, 180
481, 224
437, 531
182, 781
158, 288
164, 114
158, 593
169, 925
Death benefits
do
162 438
157 326
155 700
152 387
167 530
191 711
m 7Qft 163 906
37, 168
37, 059
40, 384
39, 094
36, 314
Matured endowments
_
do
40 792
35 611
36 873
37 155
40 856
39 862
49 345
50 744
8,362
8, 834
9,479
8 867
8 733
Disabilitv pavments
do
1 fl' 94. 9
7 982
9 265
8 678
8 573
8 717
8 683
9 495
32, 946
35, 193
35, 339
35, 049
34, 018
Annuity payments
do
35, 062
33, 908
33, 732
33, 904
35, 971
33, 477
37, 426
49, 115
57, 485
63, 630
49, 000
58, 826
60, 133
Surrender values _ _
do
60,153
57, 780
62 825
55 733
64 579
58 376
54 548
65 474
on' -if! A
78, 954
57, 783
58, 118
61, 975
Policy dividends
do
71, 958
61 713
60 515
63 686
81 787
54 829
56 837
128 668
Life Insurance Association of America:!
669, 865
682, 325
599, 835
574, 765
637, 446
Premium income (39 cos.), total
do
619 800
602 574
633 799
581 965
627 683
640 679
942 298
88, 698
91,380
66, 896
77, 672
78, 104
Accident and health
do
76, 143
81, 653
73 494
79 316
84 481
83 104
96 825
72 779
94, 784
101,219
65, 634
87, 337
80, 461
Annuities
__
do
61 039
91 674
83 589
80 719
70 363
204 911
58,
168
60,
022
48,
414
77,237
48, 224
Group
__
do
60, 744
56, 386
52 442
55 502
53 064
56 284
71 221
68, 094
75,359
84, 593
68, 740
Industrial
do
90 155
83 828
81 955
69 080
69 001
69 463
77 031
118 852
314, 063
367, 108
330, 613
328, 705
Ordinary
do
356, 403
316, 649
3is!581 347! 339 318, 226 329, 168
450. 489 312,556
i1
'r Revised.
nevibeu.
oee
Seeiiuue
note uutiiKyu
marked $•
§Effective witn
SJiinective
with February
*eoruary iys4,
1954, data
aata are reported on a budgetary
ouagetary basis;
oasis; they
tney are not entirely comparable
comparaoie with
witn earlier data which
wmcn are as originally shown
snown in the daily Treasury iStatement.
9 Beginning July 1953, appropriations of receipts to the Railroad Retirement Account are deducted from budget receipts and therefore are excluded from budget expenditures.
^Revised data for January-July 1952 for new paid-for insurance written are shown on p. S-17 of the October 1953 SURVEY; revisions for 1951-52 for premiumi income
income will
will be
be shown
sho\ later.
cTData
for 1953 for total ordinary insurance written include revisions not distributed by regions.
0
January 1953 data comparable with figures through June 1953 (mil. dol.): Net receipts, 5,061; total expenditures, 5,737; all other expenditures, 1,516.
SURVEY OF CURRENT BUSINESS
S-18
Unless otherwise stated, statistics through
1952 and descriptive notes are shown in the
1953 Statistical Supplement to the Survey
April 1954
1954
1953
February
March
April
May
June
July
August
September
October November
December
January
February
22, 178
-78, 800
1,881
1, 7M
66,000
40, 400
11, 500
6,200
22, 128
-55,000
10, 100
10, 039
65, 700
39. 800
11,700
6,200
22, 028
22, 077
-72, 500 -35, 100
3,752
2,668
2,114
4,306
22, 030
-21, 200
3,526
2,081
21, 956
-43, 300
7,074
1,555
21,958
—9,900
303
1,930
324
6,243
.853
314
4,412
.853
128
5,618
.853
r 2, 029
2,752
2, 652
FINANCE—Continued
MONETARY STATISTICS
Gold and silver:
Gold:
22, 563
22, 662
Monetary stock U S
..
mil. of dol _ .
Net release from earmark§
thous. of dol.. -324, 100 -106, 500
4,262
3,813
Exports
- do
7,746
1,827
Imports
__
do
65, 200
60,900
Production, reported monthly total
do
39,
300
37,
000
Alrica
do
13,300
12, 400
Canada
- do
5,200
4,300
United States
..
do
Silver:
144
506
Exports
do
7,272
13,886
Imports
do_.853
.853
Price at New York
dol. per fine oz__
Production:
2, 255
2,458
Canada
thous. of fine oz
4,394
4,054
Mexico
_. _ _ __ __ _ __do
3,175
3,112
United States
do
Money supply:
29, 754
29, 793
Currency in circulation
mil. of dol
200,600
201, 000
Deposits and currency, total __ __ _ _ . . do
2,400
2,300
Foreign banks deposits, net
do_
7,100
7,100
U S Government balances
_- ._ do
191, 000
191, 600
Deposits (adjusted) and currency, totaL__do
97,400
98, 300
Demand deposits adjusted
do
66,800
66, 400
Time deposits
_
do
26,900
26,900
Currency outside banks
do
Turnover of demand deposits except interbank and
U. S. Government, annual rate:f
35.1
37.1
New York City
ratio of debits to deposits..
24.4
28.7
6 other centers 9
-do
22, 562
-16,800
2,704
9, 685
64, 200
38, 900
12,900
5,200
22, 463
22, 537
22, 277
-48, 900 -68, 500 -171, 700
1, 835
3,654
2,747
1,874
1,690
2, 255
65, 500
64, 700
67,000
39, 400
38, 800
40, 600
12, 700
12,900
12, 900
6,100
0, 000
6,800
883
6,285
.853
230
5,364
.853
3,578
11, 296
.853
307
6, 548
.853
' 3, 077
1,984
3,018
' 2, 520
4, 850
2,823
' 2, 539
2,605
1, 909
' 2, 254
3, 063
2, 525
29, 843
199, 100
2, 400
4,600
192, 200
98,000
67, 200
27, 000
29, 951
199, 100
2,400
4, 600
192, 100
97, 500
67,600
27,000
30, 125
30, 120
200, 360 p 205, 100
2,467
p 2, 500
5, 333
p 9, 600
192. 560 p 193, 000
96; 898 P 97, 400
68, 293 p 68, 400
27, 369 p 27, 200
35.4
26.7
35.6
26.2
38.9
26.5
36.0
25.7
40, 500
10, 000
6,800
9,500
6,200
6,100
403
11,873
.853
253
6,497
.853
198
5,091
.853
282
3, 870
.853
' 2, 067
6,045
2,301
' 2, 098
2,514
3, 558
' 2, 143
5,077
2,511
2,331
6,678
3,751
30, 807
30, 398
P 205, 400 p 206, 800
f 2, 400
p 2, 400
p7,000
p 5, 700
P 197, 300 p 197, 400
P 100, 300 p 100, 200
P 69 ,600 p 69, 300
P 27, 400 P 27, 900
30, 781
p 209, 000
P 2, 400
p 5, 300
P 201, 300
P 103, 300
P 70, 100
P 27. 800
38.4
26.4
43.1
26.8
30, 248
30, 275
p 204, 800 p 204, 900
p 2, 500
p 2, 400
p 9, 000
P 8, 100
p 193, 400 p 194, 300
p 97, 500 P 97, 700
P 68, 700 P 69, 100
P 27, 300 P 27, 500
32.2
23.6
40.2
25.9
35.8
23.9
3,372
29, 9S1
29,904
p 206, 700 p 205, 700
p 2, 400
p 4' 400
P5,800
P 199, 900 P 197, 500
p 102, 400 P 99, 700
p 70, 500 p 70, 900
P 27, 000 P 26, 900
P42. 7
f 24. 1
P42.7
P25.8
PROFITS AND DIVIDENDS (QUARTERLY)
Manufacturing corporations (Fed. Trade and SEC):*
Net profit after taxes all industries mil. of dol
Food and kindred products
do
Textile-mill products
do
Lumber and wood products (except furniture)
mil. of doL.
Paper and allied products
do
Petroleum refining
do
Stone clay and glass products
do
Primary nonferrous metal
do
Primary iron and steel
do
Fabricated metal products (except ordnance,
machinery, and transportation equipment)
mil of dol
Machinery (except electrical)
do
Electrical machinery
do
Transportation equipment (except motor vehicles etc )
mil of dol
Motor vehicles and parts
do
All other manufacturing industries
do
Dividends paid (cash) all industries
do
Electric utilities, net profit after taxes (Fed. Res.)
mil. of dol. .
Railways and telephone cos. (see p. S-23).
2,847
186
93
3,031
219
83
2,871
275
77
46
116
279
488
77
127
228
61
113
284
520
127
124
243
47
116
252
545
121
104
236
118
262
194
140
278
165
142
210
159
69
269
298
85
272
316
68
236
282
1,267
1, 287
1,244
288
246
233
SECURITIES ISSUED
Commercial and Financial Chronicle:
Securities issued, by type of security, total (new
1
1,114
1,069
1,041
1,538
1,626
898
1,111
1,210
644
capital and refunding)
mil of dol
1, 442
1
939
1,005
942
1, 323
1,142
1,491
783
1,033
1,344
New capital total
do
497
1,002
899
927
762
1,287
974
1,465
1,141
Domestic, total
do
1,266
495
624
480
588
597
358
421
1,057
584
239
Corporate
do
705
13
0
45
16
15
0
76
0
30
Federal agencies
do
99
365
420
323
645
404
393
477
527
255
462
Municipal, State, etc
do
4
40
15
1
22
25
36
59
3
Foreign
do
8
129
109
99
215
135
115
78
69
146
Refunding total
do
98
109
129
99
215
115
135
69
146
Domestic total
do
78
98
11
25
6
16
24
11
7
37
3
Corporate
do
2
81
105
65
198
79
67
140
56
88
94
Federal agencies
do
2
2
18
24
19
2
2
3
4
2
Municipal State etc
do
Securities and Exchange Commission:
1,312
1,604
1,592
1,629
4,630
1,667
3, 053
2, 751
1,430
1,928
3,508
2,278
2, 576
Estimated gross proceeds, total
do
By type of security:
1,422
1,425
1.521
1,225
4,383
1,507
2,861
1, 359
1,814
3.402
2, 656
2,484
2.045
Bonds and notes, total
do
484
536
316
517
659
461
988
354
243
407
1,405
357
675
Corporate ... .
do
60
116
123
124
89
165
159
82
68
51
65
215
47
Common stock
do
27
19
35
47
62
82
33
43
37
18
7
31
44
Preferred stock
_
do
By type of issuer:
402
696
731
706
818
569
521
1,179
1,500
459
766
315
590
Corporate total
do
26
205
116
151
317
171
289
426
124
147
95
56
63
Manufacturing
do
12
15
36
IVIining
do
235
216
269
228
406
261
203
342
98
215
249
365
247
Public utility
do
30
15
48
32
25
50
25
9
10
23
6
61
10
Railroad
do
11
25
15
13
7
7
44
6
611
30
16
13
90
Communication
do
64
144
101
141
14
162
53
254
93
39
45
71
418
Real estate and financial ._ -- _ _ do_.
909
908
3,899
886
849
1, 251
1,060
3,049
1,115
1,873
1,407
1.689
1,810
Noncorporate, total
do
515
494
561
503
3,244
491
423
853
1.454
884
2,610
1,320
1,070
U. S. Government
do
393
771
411
380
522
405
349
390
454
260
650
483
41G
State and municipal
do
r
J
Revised.
p Preliminary.
Includes International Bank securities not shown separately.
§Or increase in earmarked gold (— ) .
t Revised series. Data reflect change in number of reporting banks and centers; figures prior to May 1952 will be shown later.
9 Includes Boston, Philadelphia, Chicago, Detroit, San Francisco, and Los Angeles.
*New series. Compiled jointly by the Federal Trade and Securities Exchange Commissions. Data are estimated totals based on reports from all manufacturing corporations registered
with SEC, all nonregistered manufacturing corporations with total assets of $5,000,000 and over at the end of 1949. and a sample of nonregistered manufacturing corporations with total assets
of less than $5,000,000 at the end of 1949. Comparable data beginning with the first quarter of 1951 are available upon request.
SUEVEY OF CUREENT BUSINESS
April 1954
Unless otherwise stated, statistics through
1952 and descriptive notes are shown in the
1953 Statistical Supplement to the Survey
S-19
1954
1953
Febru-
March
ary
May
April
July
June
August
Septem-
October
ber
Novem- 1 Decem-
ber
ber
1
January
Febru-
ary
FINANCE—Continued
SECURITIES ISSUED—Continued
Securities and Exchange Commission— Continued
New corporate security issues:
Estimated net proceeds, total
mil. of doL,
Proposed uses of proceeds:
New money, total do__ .
Plant and equipment
do
Working capital
do
Retirement of securities
do
Proposed uses by major groups:
Manufacturing total
New money
Retirement of securities
Mining total
do
do
do
do
Retirement of securities
Public utility tdtal
New money
Retirement of securities
Railroad total
New money
Retirement of securities
Communication total
New money
Retirement of securities
Real estate and financial, total
New money
Retirement of securities
State and municipal issues (Bond Buyer) :
Long-term
__ thous.
Short-term
do
do _.
do
do
do
do
do
do
do
do
do_- _
do
do
of doLdo
694
684
806
715
1,161-
510
309
756
577
451
1,486
560
395
635
381
255
630
438
192
757
532
225
612
. 481
131
1,046
614
432
479
384
95
278
169
110
695
421
274
543
429
114
409
305
104
19
24
1, 431
1,130
301
25
31
528
467
60
15
17
363
289
74
9
23
148
132
203
178
312
305
114
78
285
222
145
127
55
39
122
87
62
56
94
77
1
420
403
6
36
33
1
201
193
169
143
15
14
13
0
265
265
0
48
48
0
25
25
0
14
13
0
25
21
0)
10
9
0
232
232
0
30
23
7
11
5
0
63
51
0
257
254
212
205
223
201
397
355
334
303
210
208
97
87
243
225
358
337
49
31
32
32
24
24
15
15
23
23
9
9
9
9
24
24
6
6
7
7
15
15
13
12
7
7
43
43
15
15
29
29
89
88
13
13
140
138
142
129
162
152
99
94
415
396
39
37
91
91
251
248
71
68
362, 629
110,843
433, 142
333, 219
348, 859
144, 986
650, 210
228, 600
443, 040
151,384
521, 899
172, 444
260, 063
366, 327
475, 595
251, 039
482, 876
294, 113
410,562
190,858
777, 141
218, 734
' 399, 429
304, 473
393, 387
300, 639
262
304
198
252
185
259
183
281
307
586
254
610
237
689
243
476
262
318
268
371
210
310
158
250
136
244
1,350
730
871
1,513
744
966
1,594
738
1,068
1,671
673
1,193
282
1,684
653
1,216
1,664
651
1,161
1 682
641
1,182
1,624
674
1,070
1,641
672
1,098
1 654
682
1, 127
r 1, 694
'709
1, 170
«- 1, 690
741
1,108
1,688
768
1,062
97.15
97.56
75.81
96.57
96.99
74.95
95.46
95.84
75.27
94.42
94.79
74.88
95.30
95.69
74.62
95.82
96.22
74.44
95 58
95 96
74.79
96.74
97. 18
75.25
97.59
98.03
75.70
97.30
97 72
75.78
98.32
98.74
76.30
99.32
99.74
77.17
100. 28
100. 68
77.49
114.0
122.8
95.28
113.4
121.6
94.31
111.7
121.5
93.25
109.8
119.4
91.59
108.8
115. 1
91.56
110.7
115.1
92.98
111.4
116 9
92.89
110.9
116.9
93.40
112.5
119.7
95.28
113.6
121 4
94.98
113.5
122.3
95.85
114.6
123.6
97.42
116.5
125.4
98.62
70, 039
76, 831
76, 726
90, 067
71,709
88, 128
61, 993
72, 496
69, 942
83, 260
56, 270
64 949
46, 982
54 677
53, 136
61, 895
62, 397
77, 035
48, 741
56 894
87, 702
97, 078
79, 128
91, 677
80, 038
91,416
68, 483
74, 823
74, 547
85, 245
69, 691
83, 115
60, 227
69, 753
68, 208
80, 340
54, 572
62 723
45 364
52 327
51,954
60,238
60, 529
74, 607
47, 433
55 102
86, 220
94, 863
77, 099
88, 276
78, 470
88, 486
60,288
0
60,288
52, 940
7,324
74, 757
1
74, 756
65, 013
9,650
76, 976
0
76, 976
64, 778
12, 002
62, 085
34
62, 051
54, 611
7,372
68, 751
0
68, 751
60, 659
8,024
55, 874
0
55, 874
48 477
7,293
47 574
56, 308
0
56, 308
49, 468
6,795
64, 037
8
64, 029
57 153
6,727
59, 622
59, 622
53 034
6,499
69, 272
1
69, 271
62 126
6,861
86, 352
47, 574
41 087
6,455
86, 352
72, 247
13, 970
o
75, 856
6
75, 850
62 595
13, 102
100, 117
98,211
1,432
103,055
100, 666
1,890
99, 535
97, 638
1,425
103, 066
100, 665
1,901
98, 562
96, 662
1,429
103, 251
100, 853
1,899
98, 985
97, 094
1,421
104, 830
102, 432
1,898
99, 454
97, 576
1,411
104, 357
101, 966
1,891
100, 279
98 419
1 390
104, 651
102 284
1,867
100 010
98 142
1 395
104 634
102 269
1 865
93, 472
91, 599
1,400
96, 620
94, 259
1,861
94, 572
92 613
1 406
96,904
94 471
1 858
96,506
94 549
1 406
99, 184
96, 754
1 856
99, 828
97 871
1 406
101, 539
99, 122
1 842
101, 246
99 162
1 421
101,936
99 419
1 842
107, 646
105 557
1 424
107 346
104 843
1 838
3.26
3.31
3.40
3 53
3.61
3 55
3 51
3.54
3 45
3 38
3 39
3 34
3 23
3.07
3 14
3.30
3 53
3.12
3 18
3.36
3 57
3 23
3 29
3.44
3 65
3
3
3
3
3
3
3
3
3
3
3
3
3
3
3
3
3
3
3
3
3
3
3
3
3
3
3
3
3
3
3
3
3
3
3
3
2
3
3
3
3.11
3 29
3 39
3. 16
3 33
3.43
3 27
3 44
3 51
3 39
3 57
3 63
3 48
3 62
3 73
3 42
3 56
3 67
3 37
3 54
3 61
3 39
3 58
3 65
3 33
3 46
3 56
3 27
3 38
3 51
3 28
3 37
3 52
2.63
2.54
2.83
2.65
2.61
2.89
2.68
2.63
2.97
2.81
2.73
3.09
3 04
2.99
3.09
2 92
2.99
2.99
2 92
2.89
3.00
2.82
2.88
2.97
2 69
2 72
2 83
2 60
2 62
2 85
2 58
2 59
245
225
16
10
10
0
5
5
0
45
44
0
(i)
60
45
15
608
608
0
52
48
(0
COMMODITY MARKETS
Volume of trading in grain futures:
Corn
Wheat
mil. of bu
do
SECURITY MARKETS
Brokers' Balances (N. Y. S. E. Members
Carrying Margin Accounts)
«
Cash on hand and in banks
stomers' debit balances (net)
stomers' free credit balances
Money borrowed
mil of dol
do
do
do
Bonds
Prices:
Average price of all listed bonds (N. Y. S. E.),
total§
_
dollars
Domestic
do
Foreign
__ __
_
do
Standard and Poor's Corporation:
Industrial, utility, and railroad (Al-f issues) :
Composite (17 bonds)
dol. per $100 bond..
Domestic municipal (15 bonds)
do
U. S. Treasury bonds, taxable
.
do
Sales:
Total, excluding U. S. Government bonds:
All registered exchanges:
Market value.
.. -thous. of dol__
Face value
__
do
New York Stock Exchange:
Market value
do_. Face value
do
New York Stock Exchange, exclusive of stopped
sales, face value, total§
thous. of dol
U S Government
do
Other than U. S. Government, total§
do
Domestic
do
Foreign _ __
_
.do
Value, issues listed on N. Y. S. E.:
Market value, total, all issues§
..mil. of dol
Domestic
do
Foreign
do
Face value, total, all issues§
__ __ _ _ _ - d o
Domestic
_.
do
Foreign
do
Yields:
"Domestic corporate (Moody's)
percent
By ratings:
Aaa
do
Aa
do
A
do
Baa
do
By groups:
Industrial
_
do
Public utility
do
Railroad
_
do
Domestic municipal:
Bond Buyer (20 bonds)
do
Standard and Poor's Corp. (15 bonds) _ _ _do
U. S. Treasurv bonds, taxable
.do ...
r
34
41
58
78
40
50
67
86
301
28
42
62
86
o
24
39
56
85
29
43
56
88
16
33
47
82
o
11
27
40
75
T
9:
13
28
40
74
73
06C)
2
35
71
95
12
25
61
3 23
3 31
3 47
3 12
3 23
3 35
2 46
2 50
2 39
2 39
9 fin
2 fiS
Revised.
v Preliminary
1 Less than $500,000.
§Sales and value figures include bonds of the International Bank for Reconstruction and Development not shown separately; these bonds are included also in computing average price of
all listed bonds.
SURVEY OF CURRENT BUSINESS
S-20
Unless otherwise stated, statistics through
1952 and descriptive notes are shown in the
1953 Statistical Supplement to the Survey
April 1954
1954
1953
Febru-
ary
March
April
May
June
July
August
Septem-
ber
October
Novem-
ber
Decem-
ber
January
Febru-
ary
FINANCE—Continued
SECURITY MARKETS—Continued
Stocks
Oash dividend payments publicly reported:
Total dividend payments
._ ...mil. of dol._
Finance
do
Manufacturing
do
Mining
do
Public utilities:
Communications
do
Heat, light, and power
-_ do
Railroad
do
Trade
- --do
Miscellaneous
do
Dividend rates, prices, yields, and earnings,
common stocks (Moody's):
Dividends per share, annual rate (200 stocks)
dollars.Industrial (125 stocks)
do
Public utility (24 stocks)
do_ _ _
Railroad (25 stocks)
do
Bank (15 stocks)
_
_. _ _ -do
Insurance (10 stocks)
do
181.3
44.9
65.0
2.9
1, 251. 1
81.4
821.9
86.9
561.2
103.5
190.1
7.3
221.5
49.0
100.4
2.6
1, 249. 6
87.6
802.2
87.3
576.0
137.0
200.6
5.6
220.9
52.0
88.0
2.5
1, 235. 3
86.4
796.1
86.2
553.3
100.1
205.9
6.9
232.4
52 5
102 0
2.5
1, 715. 2
170.6
1,081.7
141.3
689.5
134.7
239.8
8.3
244.1
68 9
84.2
.9
r
42.3
6.9
15.5
'2.9
46.9
89.0
57.7
40.3
27.0
105.0
63.8
30.6
50.1
10.8
1.0
51.8
3.1
7.6
6.0
51.1
94.6
56.4
49.0
21.4
104.3
66.3
14.1
39.2
8.9
1.0
55.4
10.0
7.6
4.4
51.8
94.7
49.3
50.8
19.9
104.0
65.9
17.4
41.8
11.3
1.1
57.0
2.9
7.8
6.4
43.7
100.3
87.4
48.8
41.4
104.4
68.0
32.3
92.3
96
l -3
56.9
10 1
17.0
40
3.95
4 16
1.94
2 91
2.80
3 01
3.96
4.16
1.95
3.01
2.82
3.07
3.97
4.17
1.96
3.01
2.82
3.09
3.98
4.17
1.98
3.01
2.82
3.09
3.97
4.16
2.01
3.03
2.82
3.09
3.98
4.15
2.01
3.09
2.82
3.10
3.99
4.16
2.07
3.11
2.82
3.10
3.98
4.15
2.07
3.11
2.82
3.10
4.06
4.25
2.07
3.13
2.83
3.12
4.08
4.26
2.09
3.21
2.87
3.16
4.08
4.27
2.09
3.21
2.97
3.26
4.11
4 30
2.09
3 25
3.01
3 26
4.14
4 34
2.11
3 24
3.01
3 28
75.60
79 15
38.21
51 17
74.13
77.64
37.81
49.56
72.35
75.56
36.96
48.48
72.24
75.45
37.08
48.97
71.14
74.28
36.02
48.40
72.87
76.24
36.81
49.03
69.34
71.85
37.16
44.39
69.51
72.09
37.20
43.61
72.59
75.90
38.59
45.18
73.79
76.97
39.70
45.56
73.50
77.06
39.61
43.18
77.11
81.37
40.87
46.58
77.85
81 98
41.42
46 80
5.22
Yield (200 stocks)
....percent-Indus trial (125 stocks)
do
5 26
Public utility (24 stocks)
do_. .
5.08
Railroad (25 stocks)
do
5 69
Bank (15 stocks) .
do.. _
4.23
Insurance (10 stocks)
do
3 17
Earnings per share (at annual rate), quarterly:
Industrial (125 stocks)
dollars
Public utility (24 stocks)
do
Railroad (25 stocks)
do
Dividend yields, preferred stocks, 11 high-grade
4.21
(Standard and Poor's Corp.)
.percent..
Prices:
Dow -Jones & Co., Inc. (65 stocks) _dol. per share. . 111.21
Industrial (30 stocks)
do
283. 94
Public utility (15 stocks)
do
52.57
Railroad (20 stocks)
do
109. 03
Standard and Poor's Corporation:
Industrial, public utility, and railroad:§
195.9
Combined index (480 stocks).. .1935-39 =100..
212.0
Industrial, total (420 stocks)
do__ _
197.4
Capital goods (129 stocks)
do
Consumers' goods (195 stocks)
do
183.4
124.4
Public utility (40 stocks) _
do
181.4
Railroad (20 stocks)
do
128.2
Banks, N. Y. C. (16 stocks)
do
Fire and marine insurance (17 stocks)
do
223.8
Sales (Securities and Exchange Commission):
Total on all registered exchanges:
1,376
Market value
mil. of dol_.
53, 534
Shares sold
thousands .
On New York Stock Exchange:
1,173
Market value
mil. of dol
38, 540
Shares sold
_ -thousands .
Exclusive of odd lot and stopped sales
30, 209
(N. Y. Times) .thousands .
Shares listed, New York Stock Exchange:
Market value, all listed shares
mil. of dol _ _ 119, 749
2,814
Number of shares listed
millions .
5.34
5.36
5.16
6.07
4.33
3 29
5.49
5.52
5.30
6.21
4.49
3.41
5.51
5.53
5.34
6.15
4.60
3.41
5.58
5.60
5.58
6.26
4.64
3.50
5.46
5.44
5.46
6.30
4.59
3.40
5.75
5.79
5.57
7.01
4.55
3.46
5.73
5.76
5.56
7.13
4.53
3.40
5.59
5.60
5.36
6.93
4.45
3.35
5.53
5.53
5.26
7.05
4.28
3.32
5.55
5.54
5.28
7.43
4.61
3.26
5.33
5.28
5.11
6.98
4.72
3.20
5.32
5 29
5.09
6 92
4.77
3.08
Price per share, end of month (200 stocks). .do
Industrial (125 stocks)
do
Public utility (24 stocks)
do
Railroad (25 stocks)
do
r
r
7. 26
2 70
6 73
*8. 10
*2.78
P8.74
'7.76
2.85
8 56
7 76
2.79
8 30
1.0
4.23
4.33
4.38
4.47
4.37
4.30
4.30
4.19
4.15
4.20
4.15
4.06
112. 41
286. 79
53.19
110. 24
107. 52
275. 28
51.59
104. 05
108. 07
276. 84
50.97
105. 58
104. 42
266. 88
48.66
103. 09
106. 08
270. 32
49.03
105. 68
106. 21
272. 21
50.40
103. 12
100. 98
261. 90
49.16
94.46
103. 58
270. 73
50.53
95.44
105. 82
277. 10
51.57
97 23
106. 74
281. 15
52.54
96.37
103. 86
286. 64
53.33
98.17
111. 55
292. 13
54.39
102. 44.
198.0
214.5
199.8
185.3
124.9
184.5
128.1
223.9
190.0
205.5
191.8
177.8
121.5
173.3
122.3
216.0
189.6
205.2
192.3
177.6
120.8
174.2
121.3
214.1
182.8
197.5
183.7
170.7
117.2
169.3
115.3
205.1
185.5
200.1
185.9
171.7
119.2
173.7
117.6
208.5
187.3
202.1
188.1
172.8
121.1
170.2
121.4
215.7
179.2
192.6
180.2
165.4
119.6
156.1
119.6
209.7
183.4
197.2
186.7
168.8
122.2
156.7
122.6
215.5
187.5
202.3
192.2
171.0
123.6
158.5
124.8
225.6
190.7
206.2
197.0
172.9
125.2
156. 9
124.3
229.4
195.4
211.9
201.0
177.0
126.7
159. 5
122.8
238. 0
1,906
75, 473
1,783
83, 729
1,325
58, 380
1,290
63, 844
1,073
42, 528
1,119
42, 437
1,248
53, 392
1,188
52, 290
1,568
65, 081
1,533
66,775
1,700
60, 104
1,616
51,812
1,541
64, 111
1,129
43, 936
1,106
49, 757
903
28, 809
946
29, 841
1,068
38, Oil
1,010
37, 872
1,344
45, 458
1,296
47, 313
1,458
43, 482
r
1,170
50, 610
995
36, 557
r
199.6
216.5
204.8 '
178.1
128.8
165.8
121.7
243.7
42, 472
34, 370
25, 767
26, 075
22, 234
23, 893
27, 172
25, 728
26, 684
36, 159
33, 375
33,295
118, 223
2,819
114, 862
2,840
115,371
2,862
113, 306
2,878
115, 886
2,882
110, 750
2,889
110,479
2,892
115, 428
2,902
117,478
2,918
117, 257
2,927
123,190
2,931
124, 906
2,937
INTERNATIONAL TRANSACTIONS OF THE UNITED STATES
BALANCE OF PAYMENTS (QUARTERLY)*
Exports of goods and services total
Merchandise, adjusted
Income on investments abroad
Other services
mil of dol
do
do
do
5 425
4,256
440
729
5,750
4,508
450
792
4,929
3,717
439
773
5,233
3,956
570
706
4,286
2,916
101
1,269
3, 992
2,879
Imports of goods and services total
Merchandise, adjusted
Income on foreign investments in TJ S
Other services
do
do
do
do
4,037
2,984
111
942
4,313
3,125
Balance on goods and services
do
+1 388
+1, 437
+643
+1, 241
do
do
do
-1,908
-120
— 1, 788
-2, 064
-122
-1,943
— 1, 354
-128
-1, 226
-1,358
-117
-1,241
Unilateral transfers (net) total
Private
Government
112
1,076
+67
U S long- and short-term capital (net) , total do
Private
do
Government
.
. do
—209
-219
+10
+100
Foreign long- and short-term capital (net)
+155
+270
+603
— 29
do
Increase (— ) or decrease (+) in U. S. gold stock
mil. of dol
Errors and omissions
do
-34
-201
-23
-178
124
989
-245
-227
-19
+445
+263
+128
+302
+130
+162
+165
-31
r
Revised.
v Preliminary.
§ Number of stocks represents number currently used; the change in the number does not affect the continuity of series.
September 1953 SURVEY.
J Revisions for the first 2 quarters of 1952 appear on p. 12 of the
SURVEY OF CURRENT BUSINESS
April 1954
Unless otherwise stated, statistics through
1952 and descriptive notes are shown in the
1953 Statistical Supplement to the Survey
S-21
1954
1953
February
March
April
June
May
July
August
September
October
November
December
January
February
INTERNATIONAL TRANSACTIONS OF THE UNITED STATES—Continued
FOREIGN TRADE
Indexes
Exports of U. S. merchandise:^
Quantity
_. 1936-38 =100..
Value
do
Unit value
do
"sports for consumption :d"
Quantity
do Value
_ _ - do
Unit value
do
Agricultural products, quantity:
Exports, U. S. merchandise, total:
Unadjusted
1924-29 = 100
Adjusted
do
Total, excluding cotton:
Unadjusted
do
\djusted
_
do._
Imports for consumption:
Unadjusted
- do_
Adjusted
do
239
'487
204
'276
566
205
279
567
203
'291
'591
203
' 280
' 564
201
149
413
278
174
484
277
175
486
278
158
434
'275
164
451
275
78
95
90
105
82
102
77
99
117
145
141
167
130
156
101
99
121
108
4, 267
7,703
4,663
8,644
'274
' 553
202
'237
482
203
'249
' 511
' 205
248
' 508
204
248
506
204
270
550
203
218
443
203
158
435
275
147
407
278
162
453
279
145
401
277
149
409
275
159
437
276
149
411
276
70
96
73
99
73
89
81
67
78
59
87
70
90
73
72
69
113
134
105
131
126
157
115
120
130
107
122
98
135
116
123
108
100
99
126
119
104
106
105
113
100
111
91
99
116
119
87
86
99
101
107
1 06
103
100
6,292
8,942
6,704
9, 282
7,096
9, 306
7, 018
8, 994
6, 889
8, 590
6, 581
9, 187
6, 408
' 8, 688
'1,383
'1,357
' 1, 254
' 1, 251
r
Shipping Weight
Water-borne trade:
Exports, incl. reexports©
General imports
thous. of long tons__
do
5, 776
8, 826
Value o*
Exports, including reexports, total!
mil. of dol._
By geographic regions:A
Africa
thous. of dol
Asia and Oceania
_ _ do
Europe
do
Northern North America
.
do
Southern North America
_do
South America
do
Total exports by leading countriesrA
Africa:
Egypt
do
Union of South Africa
do
Asia and Oceania:
\ustwlia, including New Guinea
do
British Malaya do
ChinaO
do
India and Pakistan
do
Japan
_.
do
Indonesia
_
do__
Republic of the Philippines
do
Europe:
France
_ __
. __
do
Germany
do
Italy
do
Union of Soviet Socialist Republics
do
United Kingdom
_
do
North and South America:
Canada
do
Latin American Republics, total
do
Argentina.
do
Brazil
do
Chile
do....
Colombia
do
Cuba
dc
Mexico
do
Venezuela
do
Exports of U. S. merchandise, totals-mil, of doL_
By economic classes:
Crude materials
thous. of dol__
Crude foodstuffs
.do
Manufactured foodstuffs and beverages. _do
Semimanufactures?
do
Finished manufactures 9
do
By principal commodities:
Agricultural products, total
do
Cotton, unmanufactured.do
Fruits, vegetables, and preparations do
Grains and preparations
do
Packing-house products
do
Tobacco and manufactures
do
r
1, 198
r
35, 563
M 78, 513
' 213, 686
' 231, 744
'121,755
Ml 6, 134
3, 316
17,221
' 44, 430
171,016
250, 396
283, 755
1 33, 384
122, 874
4, 739
24, 427
4, 454
18, 194
9,871
9, 730
' 8, 392
2, 636
2, 505
3, 264
0
0
0
' 27, 600
28, 332
MO, 806
40, 796
'50,613
' 50, 870
7, 474
' 7, 517 ' 8, 099
' 24, 859 ' 28, 378 ' 29, 375
' 26, 529 ' 34, 606 '
' 28, 363 ' 26, 455
' 17,324
' 24, 560 '
2
1
' 47, 904
61,703
'
'231,742
' 221, 561
5,413
' 23, 493
5, 635
' 20, 139
35, 896
' 46, 856
' 40, 978
' 1, 187
' 266, 349
' 235, 944
6, 265
' 22, 527
9, 072
19, 825
38, 925
' 54, 201
'41,284
'1,379
'110,456
118,308
86, 884
106, 265
' 50, 878 r 56, 581
' 108, 193
116, 934
' 830, 441 '981,309
' 216, 514
' 47, 182
' 17, 915
93, 764
13, 604
19, 003
' 1,451
' 1, 393
' 1, 389
' 49, 112
185, 744
253, 404
206, 351
132,947
118,268
r
44, 791
180.098
247, 821.
294, 820
136, 871
132, 007
' 30, 880 ' 44, 413
' 157,009
173, 574
' 220, 125
197, 874
' 291, 00)3
244, 942
' 1 29, 328 125, 598
'129,102
113, 647
3,958
18,365
4, 000
8, 234
' 10, 504 ' 18,351
' 11,086
' 7, 507
2, 205
2, 560
0
0
12,898
'14,801
' 50, 330 ' 44, 953
' 6, 280
9, 206
39, 177
33,715
26, 685
39, 882
26, 514
' 29, 482
28, 638 ' 27, 844
3
(0
53, 552 '44,112
' 283, 753
' 237, 722
5, 942
' 23, 824
6, 506
' 24, 259
30, 827
' 52, 021
' 43, 745
M,381
'294,813
' 251 , 365
8,214
' 24, 428
7,118
' 26, 844
34,315
' 48, 045
46, 998
'1,441
' 27, 867
' 25, 474
' 23, 860
4
' 39, 423 '
' 197, 227
41, 340
' 23, 677
' 70, 335
' 14, 463
' 24, 930
1,349
' 1,091
32, 380
171, 760
243, 990
246, 993
142, 480
129,313
' 37, 917
198, 150
246, 392
224, 500)
130, 196
133, 791
39, 953
231,508
290, 108
210, 795
140, 049
152. 227
36, 195
1 69, 807
21 8, 351
199.403
131,036
116, 841
10, 191
4.428
' 14, 430 ' 17,036
3,280
13, 586
4.224
13, 412
2 092
16, 053
2, 545
18, 083
' 19,015
2 542
0
24, 072
' 75, 203
8, 156
23, 610
18,394
2, 996
19,845
83, 229
8, 131
33, 300
8, 710
1,570
0
10,019
75, 879
0, 876
20, 551
' 23, 772
' 33, 368
' 24, 101
2
' 50, 003
30, 837
37, 905
27, 685
1
61,665
22, 920
34, 759
22, 145
0
44, 560
210, 788
283,025
1 1 , 498
33, 387
12, 933
27,887
39, 008
63, 087
47, 883
1,340
199,399
235, 987
9, 527
25, 030
5, 241
21,221
33, 1H5
53,159
39, 202
1, 079
186, 780
55, 534
08,010
154,608
874, 0.42
133, 430
44, 835
54, 7X3
131, 6S2
714, 482
' 245, 254 ' 242, 957 ' 280, 338
301, 461
40, 108
44, 570
37, 165
68, 347
' 20, 044
22, 243
20, 031
18, 294
' 88, 178 ' 77, 878 ' 85, 747 70, 227
15, 525
20, 174
17, 297
22, 167
' 52, 876 ' 41, 531 ' 40, 868
52, 532
204, 987
51, 136
1 5, 755
55, 895
15, 950
26, 710
7,121
2, 530
0
' 19, 549
'51,956
11,827
' 20, 862
'13,657
9,277
2,417
2, 005
0
0
' 27, 976 ' 21, 969
'61,092
' 62, 760
8,327
7, 533
' 30, 603 ' 28, 803
18,351
24, 764
16, 977
'18,705
' 23, 266
' 16, 555
0
34, 364
'31,477
' 26, 890
' 22, 142
0
' 60, 461
32, 144
' 291,035 ' 244, 934
r 244, 344 ' 226, 247
14,177
6, 499
'24,619
' 20, 265
7,227
6, 637
' 24, 438
22, 994
32, 025
' 37, 270
' 53, 408
52,481
' 42, 297 '41,429
' 1,375
'1,349
' 196, 812
'21,175
' 20, 617
' 90, 883
'14, 795
19, 327
' 1, 244
' 50, 689
191,936
239, 015
238, 492
136, 806
132, 871
9, 248
2, 982
0
24,185
47, 200
10, 246
27, 707
' 132, 865 ' 139, 458 ' 127, 507 ' 96, 978
' 82, 535 r'75,511
' 68, 621 ' 82, 121
r
53, 798
55, 875
' 53, 970 ' 60, 573
'113,056 '113,759
112, 146 ' 110,630
' 998, 878 r 1,056,508 '1,012,917 ' 998, 506
' 250, 488 ' 223, 971 '221,811
45, 064
38, 396
48, 278
' 20, 176 ' 17, 853 ' 22, 572
114,443
' 89, 683 ' 77, 033
'14,318
' 15, 561 '15,038
33, 113
38, 129
' 30, 657
1,184
' 42, 128
' 165, 318
' 190, 340
'r 233, 453
108, 540
' 123, 302
' 233, 442
' 220, 505
' 9, 924
' 23, 847
7,244
' 24, 301
' 27, 585
' 48, 258
' 40, 061
' 1, 175
' 29, 889
' 40, 023
' 16, 368
1
' 50, 781
' 238, 472 ' 246, 985 ' 224, 532
' 256, 548 ' 257, 574 ' 250, 198
'12,512
10, 812
6,617
24, 792
r 29, 088
21. 686
8, 528
9, 583
'11,471
' 24, 571 ' 25, 500
24, 841
' 30, 154
' 38, 108
37, 157
54,172
' 54, 668
65, 339
44, 703
' 37, 446
'46,411
' 1,234
M,245
' 1,238
' 120, 432 M45, 424 '152,414 ' 159, 762
'r 73, 443 'r 82, 105 ' 70, 148
69, 739
55, 525
' 60, 007
50, 676
' 76, 108
' 105, 998 r 123, 970 ' 129, 479 ' 127, 476
' 824, 089 ' 837', 978 ' 825, 435 ' 800, 689
' 196, 970
35', 154
' 19, 726
' 73, 083
14, 735
' 25, 696
Nonagricultural products, total
Automobiles, parts, and accessories
Chemicals arid related products§
Coal and related fuels
Iron and steel-mill products
do
do
do
do
do
' 970, 339 1,128,910 '1,157,161 1,219,300 1,177,935 '1,151,996
124, 383
151, 579
162, 186
134, 401 '112, 870
142, 195
56, 273
66, 601 ' 68, 453 71, 700
70, 433
65, 670
18, 294
1 7, 651
29, 329
33, 831
35, 556
33, 107
' 42, 850 46, 769
' 43, 456 ' 45, 817 ' 41, 827 36, 335
r
978, 267 ' 999, 749 ' 995, 125 ' 953, 437 1,038,179
' 97,538
99. 481
88, 891
82, 773
94, 600
' 62,010 ' 77, 759 ' 70, 601 69, 931
82, 305
' 36, 438 ' 35, 593 ' 35, 164
27, 837
18, 483
' 33, 229 36, 227
' 38, 481 39, 424
44,015
874, 224
100, 614
64, 245
18, 261
39, 822
Machinery, total §
Agricultural
Tractors, parts, and accessories
Electrical^
Metal working§
Other industrial
do
do
do
do
do
do
' 226, 642
10,345
27, 561
' 62, 986
' 22, 565
' 94, 561
' 214, 577
12,411
' 23, 922
' 58, 240
' 16, 619
' 96, 106
192, 899
8, 840.
20, 027
56, 51::
16, 235
82, 577
' 271, 192
12,973
32, 396
' 72, 596
' 29, 877
' 113, 099
' 274, 300
15, 201
33, 468
' 76, 058
' 24, 935
' 114, 926
' 278, 619
10, 278
32, 954
' 76, 254
' 26, 605
' 115, 931
' 266, 214 ' 238, 612
14, 705
14, 032
32, 890
26, 750
'74,312
' 62, 529
' 23, 165 ' 22, 777
'111,680 ' 103, 624
' 238, 343
11,307
27, 081
' 62, 069
' 21, 519
' 105, 424
' 221, 589 ' 213, 727
7, 416
6, 682
24, 828
24, 479
' 64, 098
58, 717
' 19, 808 ' 18, 125
' 94, 783 ' 95, 010
248, 795
65!(MiO
23.004
112,997
p 1, 180
:
' 54, 652 ' 62, 391 67, 092
Petroleum and products
_ __ do_.
56, 083
56, 958
55, 787
54, 461
' 55, 009 ' 53, 910 58, 430
61, 315
51, 575
50,386 1 58, 572
Textiles and manufactures
do
53, 852
58, 193
52, 234
' 47, 771 ' 45, 007 ' 50, 302
55, 935
53, 218
55, 214
47, 532
]
' Revised. Less than $500. cf Revisions for 1952 and January 1953 will be shown later.
0Excludes "special category" shipments and all commodities exported under foreign-aid pro grams as Department of Defense controlled cargo.
ITotal exports and data by economic classes and commodities include shipments under the Mutual Security Program
Total MS P shinmeiits are as follows (mil. dol.): February 1953-February 1954, respectively—272.5; 337.3; 339.8; 365.6; 371.1; 397.7; 274.1; 203.7; 233.5; 215.9; 215.3; 1693; 184 4
^
'
*
AExcludes shipments under MSP and "special category" shipments not made under this program.
©Including Manchuria beginning January 1952.
9 Data for semimanufactures
reported as "special category type 1" are included with finished manufactures.
§Excludes "special category type 1" exports.
SURVEY OF CURRENT BUSINESS
S-22
Unless otherwise staled, statistics through
1952 and descriptive notes are shown in the
1953 Statistical Supplement to the Survey
February
March
April
1
1
May
June
July
1 August
April 1!>54
September
October
November
*><£•»- | January
™,n
INTERNATIONAL TRANSACTIONS OF THE UNITED STATES—Continued
FOREIGN TRADE— Continued
Valuec?1 — Continued
General imports total
By geographic regions:
thous ofdol
Asia and Oceania
Europe
_ _ _
Northern North America
Southern North America
South America
By leading countries:
Africa:
Egypt
Union of South Africa
Asia and Oceania:
Australia, including New Guinea
British Malaya
ChinaO
- -
' 855, 902 '1,004,453 '1,012,629
r
r
--
' 44 969 48, 090
61,418
1 54, 953 r 1 77, 538
140,507
214,711 ' 207, 871
172,414
215,004 ••212,401
185, 053
1 50, 503 '"147.705
121. 307
221,192
191,651
205. 696
do
do
do
do
dodo
do
do
do
do...
Japan
do
Indonesia
- do
Republic of the Philippines
do.-.
Europe:
France
do
Germany
.__
_.. do. _ .
Italy
do
Union of Soviet Socialist Republics
do -United Kingdom
do
North and South America:
Canada
do
Latin American Republics, total
do
Argentina _ .
_
do
Brazil
do
Chile
. do-..
Colombia
do
Cuba
do
Mexico
do
Vene/uela
do
Imports for consumption, total
do
By economic classes:
Crude materials
do
Crude foodstuffs
do
Manufactured foodstuffs and beverages _ _ _ do
Semimanufactures
do
Finished manufactures
_
do- By principal commodities:
Agricultural products total - do.
Cocoa or cacao bean?, incl. shells
do
Coffee
dc
Hides and skins
do
Rubber, crude including guayule
do__
S u gar
do
Wool and mohair, unmanufactured
do
Non agricultural products, total
do
Furs and manufactures
- do_
Nonferrous ores, metals, and manufnctures,
total
_
- thous. o f d o l
Copper, incl . ore and manufactures
do
Tin, including ore
-- ._. --- - do-..
Paper base stocks
do
Newsprint
_ -do.-.
Petroleum and products
do...
'901,538
r
933, 005
r
44 781
174.560
200. 1 84
222. 638
102, 227
188,614
50 510
163,472
194,917
209, 972
103.905
178,492
2, 334
' 9, 725
2, 328
'9, 187
* 4, 389
' 7, 299
14,347
818
r 19 037
15,439
18,854
20. 750
6, 965
19,848
571
r
23 863
rT 21 , 994
1 8. 551
19,716
14,161
'•23,461
1,196
26 082
' 22, 331
19,317
23, 937
12, 939
'17,674
10 153
M03
r 44, 997
' 17, 515
r 28, 072
' 15,378
2, 005
••51,365
r
r 1 8, 863 '14. 117
17.885
' 26, 225 ' 22. 936 - 25.483
13 209
12 123
11 549
876
1 128 r
' 1 , 1 28
46. 934
45, 629
Ml, 395
' i 7, 1 35
' ] 85, 009 r 214, 995
'294,494 r 351 , 562
20, 886
15,102
67, 596
58 536
r 28, 605
26,316
37, 494
31,029
T
48 756
32 815
44, 221
37, 690
34, 711 T 39, 259
992, 081
847,313
' 207, 373 r 233, 543
' 175, 770 207, 899
1 06, 062
76, 307
r
222, 096 ' 243, 741
M 65, 767 ' 200, 837
2.497
5. 499
M l . 285
r 20, 21 1
499
22 01 1
' 21 . 1 37
1 8, 023
' 25, 934
223, 883
215 927
104,224
260, 1 06
193,543
'219,152
"• 150 638
r 99, 382
' 239. 032
r 182, 732
335, 119 r 405, 367 ' 422, 266 ' 331,406
1 3, 1 01
1 7, 662
1 7, 390
1 5, 1 20
87, 985
' 121,564 1 50, 361 r 148,646
5, 930
8. 1 1 0
8, 765
4,794
29. 1 06
28, 81 6
33,458
33, 938
42 786
31 , 237
44,450
44, 531
30, 01 1
' 29, 188
29, 572
24, 240
' 51 2, 1 94 r 586,714 ' 575, 21 7 r 559,510
9, 789
6, 91 5
5, 529
5, 538
r
122, 848 ' 1 27. 089 ' 118,926
' 36, 295 ' 46, 652 ' 44, 439
r
29, 1 69
24, 1 39
22, 275
24, 039
25, 003
23, 677
49, 808
51 , 661
48, 600
64, 539
' 62, 51 6
56, 802
r
841.048
1
848, 948
907, 692
' 836, 51 1
48. 269
139, 020 '
197, 997 •
201,636
' 60, 378
165,871
50, 059
134,647
196,11 5
207, 908
72, 240
187,978
59, 790
1 26, 544
184,572
211,715
101,949
220, 122
55, 750
124,751
163, 423
161,137
129,787
201,663
975
7,637
1,149
8,248
1, 433
6,613
12, 436
13, 307
361
20, 085
'21,557
14, 291
19, 493
12, 105
13,898
917
' 1 9, 903
17 867
13,169
17, 759
12,273
11,484
26, 332
20, 375
17. 693
12,577
18, 535
14, 984
22, 892
'18,142
624
42, 512
12,626
20, 939
13,336
40, 769
11,008
21,511
8,776
711
36,911
'• 2203, 842
'• 3305, 023
11,173
r•100,594
1
11, 744
52, 658
37, 530
r
'18,442
r
•41,035
''928.130
9
•201,441
207, 660
• 212,168
239,125
11,426
7, 513
56, 969
79, 480
13,511
6,892
35, 061
27, 286
19, 641
17, 528
19,619
21,101
' 35, 845 35, 564
• 822,015 ' 838, 233
211,639
301 , 367
6, 333
91.144
8,099
51,134
22, 429
27,187
42, 225
895, 958
161,075
309, 645
5, 103
80, 984
13, 832
37, 954
33, 624
31,695
42, 639
842, 609
'' 226,108
2
9
208, 542
• 99, 423
r•211,458
9
'• 182,
1 598
•210,097
141,224
81,572
' 199,990
189.132
•197,488
193,546
' 79. 388
185.154
• 182, 657
203, 527
247, 291
75. 445
186,412
183,282
206, 580
232, 843
81,626
174, 988
146, 572
321, 877
5, 849
131,057
4,103
23,177
15,937
16, 908
'516.357
3, 081
372, 263
23, 929
174,929
3, 775
19, 704
16,916
14, 580
523, 695
7, 924
374, 639
35, 681
162,458
3,474
18,678
32, 006
19,404
471,478
6, 844
87, 639
19,236
16. 215
24,712
49, 444
67, 400
88, 697
19 305
18,737
23,381
53, 630
76, 506
91,097
20 899
1 8, 91 1
20, 657
42, 423
70.314
r 925.
9
32S
r
' 44 568
43 010
44, 537
1
145,452 ' 144,881 ' 154,099
201,181 ' 1 78, 909 r ?202 287
204. 113 ' 204, 332 ' ?204,' 330
1 02, 930 ' 94, 714 80, 389
207, 936 '173,642 r 9239, 686
786
7, 273
1 , 589
6 361
1. 632
7,099
r 818. 167
606
6,918
8, 561
' 13,020
7,523
' 8. 828
' 1 5, 332 ' 14,854
14, 884
' 14,669
601
1,538
1,291
537
9') £""()
r 1C) 49]
15 559
21,353
18,891
' 22. 552 23, 727
' 26, 491
21,917
23, 489
22 056
' 14,912
20, 974
'14,597
20, 228
'34, 521
' 22, 287 27, 353
21, 654
' 20, 157
T
1 8 978
265
' 21 2. 370 rr 209. 961 ' 222. 472
' 337, 822 267. 1 51 ' 274, 4 24
18,549
14.577
r 1 6 088
59, 677
43,197
48,619
27, 1 70
27. 304
30, 403
35, 066
43, 764
' 33, 927
r
r
r 50 040
40 259
3Q 632
r
' 39, 630 26 993
28,840
34. 216
33, 573
' 37, 177
997,483 ••890,916 ' 923. 982
r
Mr 19, 530
43, 027
24.555
24,219
43, 841
57. 702
1 , 262
7 786
' 907, 623
228, 003
148,033
104,735
259, 436
1 83, 776
' 20, 471 13,963
' 14, 385
'
' 22, 889 '25,169
24. 388
15 725
11 470
12,161
' 585
1,134
594
' 54, 076 ' 44, 527 '48,132
' 203, 938 '204,159
' 294, 529 253, 655
' 9, 959
27, 731
r 56, 775
48, 030
' 1 7, 1 78
20, 278
41,713
42, 827
40 680
45 095
23, 263
26! 207
35, 643
35, 791
'892,610 ' 835, 452
21 6, 033
1 57. 752
101,381
231 , 868
185,576
' 202, 744
146,711
' 95, 351
' 221 , 208
' 1 69, 438
14.292
25, 411
14, 701
929
44, 790
r
328 394 ' 327, 435 r
13,754
1 7, 282
88, 413
102,599
9. 1 62
' 6, 405
26, 445
30 217
r
49 070
43 058
r
22, 191
27, 81 5
' 565, 1 75 '
o'. 46S
5 506
3
302, 521 '•' 382,
231 •272,174
9, 343
7, 551
6, 250
1155,948
92, 939
90. 356
6, 502
4,226
6, 667
21 , 683
27, 375
21,881
43 799
40, 400
20, 588
19,485 r r' 21, 904
20, 546
532, 931 ' 5545. 898 • 549,842
5, 596
5,186
3, 917
T
1 36, 928 r 113,520
' 51,172
41,501
' 22. 989 ' 19,384
22 824
27, 082
50, 828
48.314
r
61 , 049
59, 457
' 99,185 ' 1
' 31 , 009
'r 1 7. 584
27, 802
51,934
58, 201
'
97,177
31,509
17,840
26. 606
52, 514
64,157
* 808, 500
TRANSPORTATION AND COMMUNICATIONS
TRANSPORTATION
Airlines
Operations on scheduled airlines:
33, 836
37, 707
39, 550
41, 782
37, 681
39, 517
42, 004
Miles flown, revenue-. _. .. -..
thousands ,
40, 935
40, 238
37, 765
39, 361
39, 035
13,133
14, 065
14, 967
13, 992
Express and freight ton-miles
flown
do
14,033
13, 426
13,650
16, 380
14, 768
14,485
13,494
16, 945
5, 829
5,874
Mail ton-miles
flown
_ do
5,346
5,971
5, 541
5 352
5 557
5 400
6 313
6 134
8 834
6 093
2,059
1,845
2,238
2, 265
2, 354
2,409
2, 385
Passengers carried , revenue
do
2,321
2, 334
2,015
2^023
2, 083
Passenger-milesflown,revenue ..
do--_ 1,000,839 1,154,796 1, 206, 462 1, 218, 245 1,320, 710 1,305.097 1.332 565 1, 261,366 1 225 997 1 064 211 1 166 586 1 175 797
Express Operations
29, 977
35, 475
33, 121
31, 032
Transportation revenues.
thous. of doL.
34. 161
32, 613
29, 890
31, 162
33, 728
30, 626
38, 974
27, 425
14, 210
13, 527
11 410
Express privilege payments
do
10, 698
12 845
10 536
12 166
14 438
15 157
11 918
8 768
16 557
Local Transit Lines
Fares, average cash ratef
cents.. 12. 6716
12. 7818 12. 8008
12. 7330
12. 8432
12.8941
12. 9386
12.9767
13. 0657
13. 0127
13. 1843 13.2203
1,004
972
Passengers carried, revenue
millions _
'891
927
878
977
831
865
944
885
946
862
Operating revenues
thous. of doL. 120, 300
130,900
126.600
121, 500
129,200
120, 500
121, 100
132,900
118,300
127, 700
142, 200
125,200
Class I Motor Carriers (Intercity)
Carriers of property (quarterly totals) :§
Number of reporting carriers.. ... ... ... ...
1, 062
1,066
1 057
583, 773
Operating revenues, total
thous. of dol_.
609, 769
598, 401
546, 096
Expenses, total- .
. . _ do ..
574, 343
574 547
Revenue freight carriedthous. of tons..
32, 588
33, 563
32, 727
13.2521
803
Carriers of passengers (quarterly totals):
Number of reporting carriers
166
168
166
86,813
102, 976
Operating revenues, total
thous. of dol. .
115,868
Expenses, total
do
83, 840
89, 974
95, 247
Revenue passen gers carried
thousands _ .
84, 657
91, 406
92, 853
r
Revised.
* Preliminary.
cf Revisions for 1952 and January 1953 will be shown later.
©Including Manchuria beginning January 1952.
§It should be noted that data for 1938-44 shown in BUSINESS STATISTICS (1953 edition) are not comparable with subsequent data in that volume and in the SURVEY beginning with the
October 1953 issue. The data through 1944 cover reporting intercity common carriers of all types of commodities, whereas later data are for carriers of genera! commodities only (i. e., they
exclude carriers of special commodities and intercity contract carriers). Data for 1945 for carriers of all types, comparable with earlier data, are as follows: Number of reporting carriers 1 408operating revenues, $185,132,000; expenses, $184,708,000; revenue freight carried, 25,839,000 tons.
"' ' '
fData have been re vised (beginning August 1945) to include fares charged by transit companies operating in cities having a 1950 population of 25,000 or over; revisions prior to August 1952
wil
be
shown
later.
SURVEY OF CURRENT BUSINESS
A p r i l mrt4
Unl ess otherwise stated, statistics through
52 and descriptive notes are shown in the
195
1953 Statistical Supplement to the Survey
S-23
1954
1953
February
March
April
May
June
July
August
September
October
November
December
January
February
TRANSPORTATION AND COMMUNICATIONS—Continued
TRANSPORTATION— Continued
Class I Steam Railways
Freight carloadings (A. A. R.):cf
' 2, 730
Total cars
thousands
M69
Coal
do
61
Coke
do . .
173
Forest products
do
159
Grain and grain products
do
26
Livestock
do
78
Ore
.
do _
274
Merchandise, 1. c. 1 _ ._. __. _ .
do
1,490
Miscellaneous
do
Freight carloadings (Federal Reserve indexes):
119
Total, unadjusted
1935-39=100..
97
Coal
do
191
Coke
do
140
Forest products
do
112
Grain and grain products
do
46
Livestock
do
69
Ore
.
.
do
43
Merchandise, 1. c. 1
-do
140
Miscellaneous
_
do
2,802
451
59
175
170
27
83
288
1,549
2,957
455
55
179
166
32
245
281
1,544
3,883
626
71
217
215
41
438
346
1,929
3,204
540
56
186
219
29
369
268
1, 537
2,964
397
50
172
236
25
378
257
1,450
4,022
678
64
238
254
38
473
347
1,930
3,153
532
49
176
198
40
361
271
1,526
4,024
668
63
222
279
76
377
359
1,980
2,797
485
47
168
188
47
179
259
1,423
2,413
451
43
150
155
32
68
236
1,279
2,967
584
49
175
208
3'/
SO
286
1,548
2,462
421
37
158
173
24
63
253
1,332
122
92
186
142
119
47
79
45
146
127
96
175
144
117
58
231
44
146
132
106
182
143
124
58
315
45
148
133
105
176
151
158
52
328
43
146
128
94
162
147
166
46
341
42
141
134
112
162
153
142
55
331
44
146
137
114
162
148
78
324
45
150
135
110
160
144
157
108
263
45
149
124
104
155
142
137
86
160
43
140
108
97
142
120
112
56
62
38
124
108
100
126
122
124
56
58
38
122
107
87
116
128
122
43
55
40
126
132
92
184
142
130
60
273
45
154
129
96
178
144
133
66
237
44
148
130
106
183
137
141
65
237
45
146
128
105
179
145
155
60
212
43
142
123
94
167
146
138
60
213
42
139
130
112
169
145
131
58
221
44
145
126
114
164
137
131
59
216
43
139
126
110
163
136
157
70
172
44
137
122
104
155
145
140
69
172
42
134
117
97
135
135
119
58
201
40
132
120
100
120
136
124
58
231
39
133
117
87
109
133
124
64
222
41
134
73, 260
7,429
56, 584
1,745
976
203
58, 597
5, 584
43, 375
1,501
602
341
40, 222
12, 461
16, 278
2,269
1,385
527
25, 302
7,511
7, 400
4,129
3,111
673
32, 717
2,315
23, 982
3.934
3,400
246
21,134
2,761
9,715
2,486
1 , 769
525
11, 074
1,710
1,202
3, 546
2,530
953
7, 173
730
1, 609
4, 346
3, 326
915
25, 326
3,381
16, 656
1, 388
1, 125
167
85, 062
17,637
56, 383
153
119
15
120,957
33, 501
79, 35S
366
217
20
112, 442
22, 045
78, 680
465
330
22
919, 617
779, 580
67, 052
1
696, 914
905, 605
765, 798
67, 093
1
673, 704
901, 634
763, 046
66, 880
680, 508
924, 362
776, 260
75, 342
688, 949
925, 949
773, 517
79, 704
701, 399
924, 754
773, 524
76, 799
689, 467
904, 263
763, 094
66, 111
673, 210
934, 304
794, 329
62, 747
693, 896
832, 363
702, 006
61, 766
657, 496
815,400
661, 347
74, 531
697, 038
749, 826
617.122
69, 991
626, 806
722, 334
602, 716
57, 437
586, 934
129, 134
93, 570
71, 997
130, 392
101, 509
77, 241
125, 733
95, 393
74, 420
135, 740
99, 673
79, 232
130, 122
94, 428
71,988
133, 651
101,636
81, 526
131,112
99, 942
80, 493
133, 076
107,331
87, 679
96,310
78, 526
58, 960
40, 445
77,917
72, 108
90, 446
32, 574
17, 594
90, 983
44, 418
53, 227
1. 536
2,491
52, 570
1. 523
2,499
56, 296
1. 429
2,490
55, 194
1.474
2,830
53, 746
1.509
3,106
57, 490
1.416
2,965
54, 039
1.470
2,514
57, 276
1.453
2, 367
49, 763
1.466
2,297
45, 166
1. 520
2,770
46, 107
1.411
2, 635
7,271
4,947
2,324
8, 138
5, 524
2,613
9,238
6. 036
3,202
9,895
6, 613
3,282
9,574
6, 695
2,879
9, 943
6, 755
3,188
9,552
6,702
2, 850
9,793
6,699
3,093
9,388
6,488
2, 900
8, 654
5, 776
2,878
8, 069
5, 657
2, 412
3,009
947
3,233
1,168
3,182
1,256
3,153
1,064
3,265
1,045
3,236
1,029
3, 265
1,056
2,934
1,004
3,115
1, 058
3, 104
952
3, 587
1,026
3,159
969
2, 901
777
6.49
76
230
7.14
78
264
6.51
77
274
7.04
77
270
6.71
71
239
7.44
73
250
7.26
70
256
7.49
80
262
7.53
71
243
(>. 75
60
231
6. 96
72
242
7.04
75
247
74, 91 7
76, 349
43, 305
29, 798
47, 501
419
69, 358
86, 172
4(5, 568
32, 979
57, 560
599
69, 711
85, 632
48, 792
36,071
53, 901
1,030
83, 504
112,186
50, 154
39, 496
44, 057
2,439
101, 430
119, 703
55, 838
43, 029
36, 929
4,004
123, 344
91,919
56, 963
42, 878
26, 472
4.040
116,023
69, 703
62, 355
41,839
23, 999
2,005
83, 717
56, 746
52, 454
35, 906
21, 103
1, 102
67, 611
50, 160
44, 460
31,127
18, 351
434
64, 038
55, 462
43 379
35, 332
21.3'iS
2i«;
29, 069
280
130
Total, adjusted
do
97
Coal
.
do
181
Coke
_do _.
146
Forest products
do
114
Grain and grain products
-do
.57
Livestock
__
.
do
275
Ore
do
45
Merchandise, 1. c. 1 do
149
Miscellaneous
do
Freight-car surplus and shortage, daily average:
69, 294
Car surplus, total
_ . _ .number. _
8,145
Box cars
.
do .
51, 776
Gondolas and open hoppers
do
1,376
Car shortage, total
do
768
Box cars
do
194
Gondolas and open hoppers
do
Financial operations:
r
812,
982
Operating revenues total
thous of dol
' 684, 382
Freight
do
64, 738
Passenger
_
do
' 621, 106
Operating expenses
do
Tax accruals, joint facility and equipment rents r
thous. of doL- 114,078
r 77, 797
Net railwav operating income _- . ... do
55, 943
Net income t
do
Operating results:
47, 714
Freight carried 1 mile
mil. of ton-miles
1.502
Revenue per ton-mile
cents
2,389
Passengers carried 1 mile revenue
millions
147
Waterway Traffic
Clearances, vessels in foreign trade:
Total U S ports
thous of net tons
Foreign
do
United States
do
Panama Canal:
Total
thous. of long tons
In United States vessels
do
Travel
Hotels:
6.77
Average sale per occupied room
. dollars
78
Rooms occupied
percent of total
245
Restaurant sales index same month 1 929=100. _
Foreign travel:
63, 298
U. S. citizens: Arrivals
_ number
71, 506
Departures
... .do__
31, 287
Aliens- Arrivals*
do
23, 230
Departures* . . _ _ _ _ . _ do
40, 199
Passports issued
do
328
National parks, visitors,
_.
thousands
Pullman Co.:
741
Revenue passenger-miles
millions
9,388
Passenger revenues
thous. of dol..
COMMUNICATIONS
Telephone carriers:
363, 949
Operating revenues
thous of dol
219, 159
Station revenues
__
do
116, 260
Tolls, message
do
748
9,817
696
9,132
656
8,622
693
9,120
656
8, 652
627
8,268
614
8,076
644
8,447
593
7, 760
612
8, 010
783
10,278
378, 836
223, 607
126, 615
380, 115
225, 848
125, 153
385, 809
228, 180
128, 219
386, 901
228, 995
128, 304
388, 856
227, 324
131, 298
383, 186
225, 723
126, 940
385, 576
228, 827
125, 827
399, 936
234, 531
133, 915
395, 803
235, 545
128, 289
410,793
240, 455
137,870
399, 014
238, 752
127, 521
248, 719
46, 270
42, 298
264, 660
45, 385
42, 488
262, 177
47, 354
42, 670
278, 219
47, 103
42, 850
267, 821
47, 586
42, 956
279, 484
43, 386
43, 105
266, 141
46. 779
43, 234
272, 718
44, 997
43, 387
276,315
50, 474
43, 582
271, 313
50, 842
43, 750
289, 333
52, 273
43, 963
271,649
50, 381
43, 915
16, 033
14, 178
1,097
18, 245
15, 325
2,136
17,710
15, 187
1,734
17, 977
15, 835
1,346
18, 401
15, 802
1,820
17,617
16, 332
528
17, 221
15, 709
816
17, 233
15,477
1,070
17, 340
15,543
1. 157
15, 872
14. 570
689
17, 991
15, 721
1, 668
15, 795
14, 818
164
2,293
1,778
296
2,617
1,869
512
2, 276
1,846
229
2,257
1,855
194
2,315
1,777
333
2,344
1.946
180
2,370
1. 803
355
2,574
1,820
522
2, 609
1,951
428
2,487
1,836
442
2,892
1 , 946
704
2,480
1,862
390
2,346
1,992
222
2,657
2,130
390
2,545
' 2, 106
299
2,480
2,100
249
2,550
2,130
288
2,533
2,174
232
2, 420
2, 139
164
2,471
2,092
249
2, 586
2, 168
301
2 403
2,097
194
2,711
2, Ml
226
2, 435
2. 166
134
Operating expenses, before taxes
Net operating income
Phones in service, end of month.
__
do
do
thousands
Telegraph, cable, and radiotelegraph carriers:
Wire-telegraph:
Operating revenues
thous of dol
Operating expenses, incl. depreciation
do
Net operating revenues
. do
Ocean-cable:
Operating revenues
do
Operating expenses, incl. depreciation
do
Net operating revenues, .. ...
do
Radiotelegraph:
Operating revenues
do
Operating expenses, iricl. depreciation . do
Net operating revenues
do
34. 695
364
SURVEY OF CURRENT BUSINESS
S-24
1953
Unless otherwise stated, statistics through
1953
Statistical Supplement to the Survey
A p r i l 19.~>4
February
March
April
July
June
May
1954
August
September
October
November
December
January 1 ™™'
CHEMICALS AND ALLIED PRODUCTS
CHEMICALS
Inorganic chemicals, production:!
Ammonia, synthetic anhydrous (commercial)
short tons...
Calcium ar^enate (commercial)
do
Calcium carbide (commercial)
do
CT
Chlorine
as
do
173, 857
926
189, 644
534
68, 946
52, 950
233, 081
01.913
43, 997
217, 261
185, 194
192, 424
216
69, 703
66, 194
241, 177
188, 173
276
68, 391
51, 823
235, 596
65, 960
65. 270
60, 570
65, 890
Hydrochloric acid (100% II CD
do
1,444
1,194
964
1,144
Lend arsenate (arid and basic^
do
134, 352
141,444
146, 594
139, 178
Nitric ncid (100% HNOs)
do
2, 336
2,182
2, 161
2,197
Oxy°en (hieh puritv)
mil of cu ft
210, 153
218, 427
214,811
199. 765
Phosphoric ncid (50% HsPO^
short tons
Soda ash, ammonia-soda process (08-100%
423, 755
438. 427
432, 747
NsiiCfh)
short tons _ 370, 735
10, 534
9, 234
8, 034
7,440
Sodium bichromate nnd chromate
do
288. 216
274, 614
278, 970
256, 482
Sodium hydroxide (100% NaOH)
do
Sodium silicate, soluble silicate glass (anhydrous)
54, 037
57, 708
49, 941
41.950
short tons
Sodium sulfate, Glauber's salt and crude salt cake
79, 776
80, 383
78, 422
73, 221
short tons..
Sulfuric acid:
1,116.994 1, 270, 151 1, 206, 913 1, 257, 882
Production (100% H"SO/)
do
Price, wholesale, 66°, tanks, at works
20.00
20.00
20.00
20.00
dol per short ton
Organic chemicals:
Acetic acid (synthetic and natural), production
42, 105
40, 688
44, 211
33, 894
thous. of Ib
61,361
67, 380
71, 448
71, 065
A.cetic anhydride production
do
1,342
1, 195
1,278
1, 115
AiCetvlsnlicvlic acid (aspirin), production do
Alcohol, ethyl:
44, 681
46, 837
43, 394
45. 013
Production
thous. of proof <ral
r
74, 492
64, 238
78, 581
77, 702
Stocks total
do
In industrial alcohol bonded warehouses
55,022
54, 872
54, 592
56, 948
thous. of proof gal..
19,470
9, 646
23 709
20 753
Tn dcnaturm" plants
do
34,435
35, 640
56, 224
40, 320
Used for denaturntion
do
2, 105
2, 030
1,892
2, 171
Withdrawn tax-naid
do
Alcohol, denatured:
19,
201
30,
199
18,414
21,
652
Production
thcus. of wine cal
21,84,"
23, 105
25, 169
17, 583
Consumption (withdrawals)
do...
r
8,
855
14,
009
10,
207
9
659
Stoeks
do ._
12,386
11,505
14, 015
10, 813
Creosote oil production
thous of ^il
6.
004
7,
423
7,
685
7,
222
Ethyl acetate (85%). production
thous. of lb._
Glycerin, refined (100% basis):
High 9ravity and yellow distilled:
6, 993
7, 380
8, 097
6, 762
Production
do
6, 787
7, 092
6, 866
6, 276
Consumption
_
do
15, 912
15, 060
14, 856
12, 697
Stocks
do
Chemically pure:
14,331
13, 276
14, 722
13, 258
Production
d o _ _-
Stocks
Methanol, production:
Natural (100%)?
Synthetic (100%^
Phfhalic anh3 7 dride production
do
thous. of gal
do.__
thous. of Ib
185, 515
(i)
69, 603
83 907
241,110
193, 932
(i)
66, 498
82, 948
238, 619
195, 484
(i)
64, 860
73, 793
228, 826
198, 556
0
65, 562
58 615
239, 360
194, 886
(i)
61 , 201
48 238
227, 830
134, 227
2 035
198, 325
62 463
(')
140 ?68
1 , 992
195 728
63 425
0
144, f>94
2,125
214, 732
64 936
0
145 824
2,034
202,463
66, 494
0)
159, 421
2.114
222, 797
157 485
1 933
204, 545
390 088
11,414
277, 495
40S, 351
10,177
282, 175
414,642
274, 676
395, 896
8, 363
260, 747
408, 829
8 5SO
276, 413
394. 01 5
7, 954
262 119
44, 433
41,270
44, 436
48, 050
64, 740
78, 818
75, 609
77. 869
78, 067
81,479
1,163,791
1,155,529
1,131,309
1,115,524
1,210,900
22 35
°2 35
35
22 "-,
22. 35
22 35
22 35
99 3"
40. 219
74, 568
1,117
48, 871
82, 359
959
44, 546
75, 406
1,111
40, 595
72, 051
1,071
36, 579
62, 567
1, 298
36,515
49, 075
1, 056
39, 760
51,786
987
51.8G3
1, 105
40, 645
72, 519
39 034
75, 501
31,934
71,878
28, 995
65, 274
29, 033
58, 565
30, 245
56. 514
26,312
54, 152
27,112
51 , 403
23 912
47, 910
53,812
18,707
37, 469
2, 206
53, 731
21. 770
36. 557
2, 106
50,361
21 . 51 4
35, 346
1 , 944
47, 978
17 296
33, 538
2,218
41,108
17.457
34, 685
1, 538
38. 322
18, 192
31, 583
1, 194
35, 762
18, 390
27, 880
962
33. 204
1 8. 1 99
28, 1 22
982
28, 138
19 452
26, 171
1 113
20 126
23, 309
6, 844
13, 570
8,200
19, 649
20, 890
5, 575
11,448
7,343
19, 058
17,861
6, 8C3
13, 683
4, 995
18, 083
18,317
6, 552
12, 272
7, 356
18,781
17, 109
8, 230
12,114
6, 478
17, 057
16, 580
8, 702
13, 533
5,165
15, 149
17. 451
6,412
11,485
5, 859
15,213
16, 21 C
5. -12?
10,165
5,909
14, 171
13, 332
6, 603
7, 653
6. 265
17, 999
5, 151
6 037
16, 59!
5, 235
6, 400
15.834
7, 783
6, 498
16 5?9
6, 103
6, 883
15.384
7.135
6,136
16,712
5, 798
5, 630
17. 259
6, 325
5, 820
17,464
6. 675
5. 756
18, 294
11.238
8 809
27, 986
n)
65 371
77. «59
235 153
63 342
S99
10 973
90
199, 907
(i)
65, 499
48 269
227, 040
206, 679
62 806
164 122
1,891
196, 946
69 36°
i 0°6
161 134
1 899
233. 063
378. 658
7 759
260 651
371,622
8,126
267 083
52 489
43, 957
46 608
79, 857
' 72, 868
71.468
64 099
(!)
r
n]
6? 391
45 455
2°6 955
1,207,586 1, 10f>.«90 1 180,914
p 22 35
0)
7 552
17, 644
8,217
20, 146
7, 897
21, 323
7, 698
24, 049
12,234
9 021
25, 774
10. 747
« 536
25, 580
12,797
8 890
25,81.3
11,322
8 877
24, 605
15, 966
9 618
26, 142
11, 203
8, 558
25. 144
15,142
8 718
27, 689
12,743
* 700
28, 645
148
11, 890
18, 481
184
13, 275
21, 841
192
12, 469
17, 519
204
12, 553
18, 181
189
12. 683
18, 059
146
14, 326
20, 375
165
13, 861
19, 659
139
13, 603
18,459
126
13, 941
16, 235
173
13, 974
18,848
165
14,151
19, 133
(0
12,459
21, 409
1,324
161, 193
5, 336
139, 696
9, 161
2, 030
199, 096
6, 853
179, 311
7,814
1, 863
227, 068
14, 628
201,527
6,734
910
230, 296
5, 650
214, 016
6. 101
426
311, 892
7, 367
295,012
5,463
203
272, 139
6, 425
254, 557
5, 507
2228
* 296, 632
5, 484
'•277, 369
6, 913
2
304
'237,215
5, 063
' 201, 130
7, 958
2
429
307, 471
15,029
274, 173
6, 967
2
362
248, 717
7, 023
223,316
6, 831
2
399
302, 167
38, 206
252, 284
7, 325
- 512
211, 682
25, 205
180, 810
4, 590
>• 244, 935
200 676
86 555
10,978
10, 423
168, 940
132,082
19 489
8,434
14, 686
166, 587
133, 866
22 949
8,694
9,288
179,010
139, 272
7 561
7,813
10, 732
207, 352
142, 088
0
19, 907
21,597
152.784
112,153
39 832
8,783
18, 320
183,504
143, 369
45 769
9, 553
20, 804
953 288
214, 608
65 277
13 062
11,271
57. 00
130, 815
57. 00
133, 370
53. 00
132, 228
53.00
117, 982
53. 00
123, 839
53. 00
125,933
53. 00
155.234
151, 444
231, 501
160, 579
243, 112
160, 518
247, 530
168,338
245, 537
157, 845
262, 781
168, 768
281, 348
181,074
301,462
FERTILIZERS
Consumption (12 States) 5
Exports total?
Nitrogenous materials
Phosphate materials?
Potash materials
thous of short tons
short tons
. _
do__
..
-_ - do._
do
Imports total?
Nitrogenous materials total
do
do
Phosphate materials!
do
Potash materials
do
Price, wholesale, nitrate of soda, crude, f. o. b. cars,
port warehouses
dol. per short ton..
Potash deliveries..
short tons..
Superphosphate (100% A.P.A.)cf
Production
short tons
Stocks end of month
-_ do
<" 296, 507
«"• 252,882
37 565
4,521
r
23, 125
r
376, 021 «• 422, 303
' 302, 884 >• 335, 003
r
86 893
88, 419
11, 610
11,527
40, 955
29, 031
f 300, 172
239, 833
92, 119
5, 080
13, 819
r
r
57.00
167, 733
57.00
214, 470
57.00
183. 982
57.00
142, 816
57. 00
108, 479
174, 494
257, 996
200, 068
206, 673
215,197
163, 678
196, 945
181, 727
164, 600
214, 636
r
p 53. 00
196, 283
NAVAL STORES
Rosin (gum and wood) :
769, 520
927, 010
Production semiannual total
drums (520 Ib )
3 859, 380
911, 120
Stocks end of period
do
Price, gum, wholesale, "WG" grade (N. Y.), bulk
8.75
8.80
8.60
8.
60
9. 00
8.45
8.35
8.85
8.70
8.80
9. 00
8.60
p 9. 00
dol. per lOOlb..
Turpentine (gum and wood):
233 670
297 270
Production semiannual total
bbi (50 gal )
s 228, 880
213, 770
Stocks, end of period . ..
do._
.60
.59
.60
.61
.59
.59
.59
.60
.60
.61
.59
.59
Price .gum, wholesale (N. Y.)
dol. pergal..
P. 60
1
2
3
T
Preliminary.
Not available for publication.
Data for 10 States, excluding Indiana and Missouri.
Revisions for March 1952: Rosin, 722,580 drums; turpentine,
Revised.
94,450 bbl.
? Revisions for 1952 will be shown later..
§States represented are: North Carolina, South Carolina, Georgia, Florida, Alabama, Tennessee, Arkansas, Louisiana, Texas, Oklahoma; prior to August 1953, also Indiana and Missouri.
According to quarterly reports from Virginia and semiannual reports from Kentucky, consumption in those States is as follows (thous. short tons) : Virginia— 1952— July-September, 90; OctoberDecember, 100; 1953—January-March, 319; April-June, 322; July-September, 79; October-December, 80; Kentucky~m2, July-December, 225; 1953, January-June, 453.
cfPrior
to the October 1953 SURVEY, data were shown in short tons of 18% A. P. A. (available phosphoric acul).
0
Revisions for January 1953 for imports of fertilizers (short tons): Total, 232,080; nitrogenous materials, total, 180,359.
SURVEY OF CUREENT BUSINESS
April 1954
S-25
1954
1953
Unless otherwise stated, statistics through
1952 and descriptive notes are shown in the
1953 Statistical Supplement to the Survey
February
March
April
May
June
July
August
SeP
br|
October
November
December
January
February
CHEMICALS AND ALLIED PRODUCTS—Continued
MISCELLANEOUS
Explosives (industrial), shipments:
Black blasting powder
thous. of lb__
High explosives
do
Sulfur:
Production
thous. of long tons..
Stocks
do
812
56, 871
710
58, 876
634
63, 170
553
64, 562
503
64, 765
579
61, 167
754
68, 135
918
67, 850
1,000
70 924
971
62 886
1,027
54 621
1,061
52, 752
1,355
55 303
382
3,089
472
3,043
480
3,001
455
2,867
419
2,920
424
2,960
451
3, 037
416
3 059
431
3 057
370
3 023
438
3 022
'469
3 090
437
3 170
343, 522
127, 834
453, 996
344, 181
128, 956
449, 299
331, 952
125, 007
443, 138
311,131
126, 654
431, 798
300,366
116,414
413, 191
291, 364
101, 330
380, 414
276, 369
107, 346
318, 383
282, 060
121 630
280, 903
334, 269
135 312
249, 836
367, 294
129 469
252 586
362 958
128 535
264 848
354. 916
124 832
269, 246
309 854
123 883
257 901
51, 541
35, 222
115, 820
51,090
40, 361
109, 800
52, 056
34, 996
105, 854
52, 336
33, 926
105, 053
50, 838
32, 625
99, 715
46,140
23, 966
106, 866
45, 152
31, 879
103, 388
43, 702
30, 324
102, 327
47, 945
36, 705
91, 557
51 774
35 930
86 410
48 359
29 443
81 970
49. 251
27 084
83, 322
47 667
29 878
74 698
223
14, 599
65, 644
244
11,930
51,459
1,844
11,443
47, 180
8,000
12, 989
46, 731
18,087
10, 672
46, 797
27, 357
11, 148
51, 287
28, 839
10, 246
74, 408
30, 052
12, 035
90, 397
15, 939
12, 762
92, 126
2,933
11 138
79, 383
5 296
9 302
72 711
840
9,070
68, 768
371
9 171
46 297
488
521
510
546
457
525
415
458
369
446
322
378
379
426
451
476
618
559
581
569
592
536
r 595
'537
545
526
1,112
872
1,102
967
1,074
1,044
1,052
1,072
985
1,095
970
1, 077
912
1,052
925
1,050
959
1,083
943
1,148
997
1 256
' 1, 025
1, 323
964
1 336
FATS, OILS, OILSEEDS, AND
BYPRODUCTS
Animal fats, greases, and oils:
Animal fats:
Production t
_
.
thous. oflb..
Consumption, factory
do
Stocks, end of month _ _
_ _.do
Greases:
Production
_
__
do
Consumption, factory
do
Stocks, end of month
.
do
Fish oils:
Produetiont
do
Consumption, factory
do _ _
Stocks, end of month _
do
Vegetable oils, oilseeds, and byproducts:
Vegetable oils, total:
Production crude t
mil oflb
Consumption, crude, factoryt
do
Stocks, end of month :t
Crude
do
Refined
do
17, 699
15, 915 ' 19, 163
18, 875
18, 942
15, 467
24,499 Tr 18, 622 ' 34, 728 57, 676
41, 846
Exports
thous. of lb__
80 988
44, 941 '39,294
34,838
33, 521
60, 054
25, 247
32, 396
29, 458
33, 438
30, 146
Imports, totalt
.
_
do
38, 229
44 439
554
877
2,644
1,194
2,336
2,481
2,826 r 2, 193
3 816
2 028
Paint oils
- - -do. __
8 186
7 453
24,369
33, 644
32, 966
42,604 '36,650
57, 573
25, 642
All other vegetable oilsj _
do
30, 203
31, 410
27, 320
30 043
36 986
Copra:
19,014
23, 958
28, 611
29, 421
31, 031
25, 546
Consumption, factory
.short tons..
29, 498
33, 743
30. 074
28, 337
27, 497
23, 030
27, 066
15, 997
11, 277
18, 786 r 14, 416
17, 729
Stocks end of month
do
17 895
16 198
15 715
13 272
12 504
15 130
19,969
29,029
18, 883
25, 243 ' 22, 263 72, 839
38, 517
29, 423
Imports
do
37, 371
34, 128
25, 371
27 274
Coconut or copra oil:
Production:
24, 232
36, 332
32, 318
39, 520
37, 590
31, 280
37, 129
43, 066
Crude
...thous. oflb..
35, 997
38.337
35,028
29, 498
35, 294
29, 174
29,922
26, 959
29, 970
26, 372
26, 942
Refined
-do
31, 763
28, 843
31 411
27 982
25 938
26 618
26 569
Consumption, factory:
45,998
44, 820
45, 273
39, 125
41, 591
43, 527
47, 498
46, 845
45, 597
Crude
- do
42 548
42 673 ' 43 428 45 550
25, 409
27, 093
27,053
22, 478
23,201
23, 063
Refined
do
29 108
27 356
23 010
27 318
22 544
22 369
27 788
Stocks, end of month:
30, 782
36, 744
41, 113
41,411
38, 685
41, 803
54 809
46,250
53 116
37, 393
Crude
do
66 970 r 69 403
60 680
7,429
7,677
8,732
7,723
8,809
8,759
9,019
11,260
Refined
do
9,540
16 249
13 650
13 843
10 691
5,298
8,013
9,069
7,079
19, Oil
9,896
12 258
Imports
do
11 774
17 550
10, 975
13 625
15 868
Cottonseed :t
100
38
44
28
14
r glO
113
Receipts at mills
thous. of short tons..
1,323
276
1 860
1 397
237
113
550
480
208
155
266
377
Consumption (crush)
do
182
510
778
763
712
718
624
1,391
155
949
614
361
197
Stocks at mills, end of month
do
1,064
2, 146
2 780
250
2 390
2 865
1 879
. C ottonseed cake and meal : t
231, 782
181, 730
129, 515
99, 667
75, 673
Production
_.
short tons.. 262, 173
241, 458 371, 321 361 549
86, 379
334 973 294 423
340 919
210, 115
208, 612
178, 690 i 140, 897 i 122, 619 i 91, 549 * 69 948 * 112 687 !163 838 i 163 Q22 i 109 700 i 109 229 1 146 087
Stocks at mills, end of month §_.
do
Cottonseed oil, crude:J
180, 541
165, 269
133, 124
74, 529
55 418
95, 387
Production
thous. of Ib
907 4.4.7
157 634
251 701 249 924
57 397
234 465
232 230
170, 739
149, 973
56, 418
42, 451
115, 605
84, 671
Stocks end of month
do
89 090
134 001
37 830
143 804
183 105
148 742
184 165
Cottonseed oil, refined:
173, 738
169, 882
159, 289
119, 424
96, 142
67, 740
Productiont
_- _
do
97, 992
179 751 221 226
59, 998
200 423 183 279
188 701
99, 752
90,754
92, 053
75, 610
68, 663
79, 258
Consumption, factoryt
do
89 270
133 253
83 622
151 Oil
131 421
135 286
141 894
' 25, S99 23,109
18, 144
19, 744
15, 664
17, 430
18 144
29, 477
16. 724
30 204
In margarinet
do
35 314
30 952
34 600
811,815
723, 763
881, 275
916, 453 935, 273
928, 561
Stocks end of month §t
do
927
026
966
498 1 016 037 1 109 455 1 152 554 1 177 790
918 585
.179
.233
.233
.220
.233
.233
Price, wholesale, drums (N. Y.)___dol. per lb_.
.204
.206
.190
.211
'.201
.206
P. 193
Flaxseed:
Production (crop estimate)
thous. of bu_.
2 3Q 813
Oil mills:
0 K1Q
1,924
1,221
2,065
1,609
1,680
Consumption
_.
do
2 452
1,311
r 2 687
2 849
2 200
2 157
2 731
2,822
3,679
1,449
2,136
2,063
Stocks end of month
do
2,064
1 943
4 720
1 738
5*164
4 173
4 758
3 183
3.95
3.90
3.65
3.84
3.76
Price, wholesale, No. 1 (Minn.)
dol. per bu_3.50
3.85
3.88
3.56
3.93
4.00
4.02
3.89
Linseed oil, raw:
en <IOQ
39, 027
41, 300
34 663
24, 497
Production
thous. oflb
31 975
26 764
48 842
57 003
43 904
39 685
54 274 r 52 087
41, 599
43, 085
42, 864
Consumption, factory
do
41, 131
45, 511
42, 697
45 690
49 644
42 043
35 747
35 655 r 42 280
35 047
636, 113
641, 675
588, 812
626, 180
599, 768
Stocks at factory, end of month _
do
575 613
562 033
556 874
558 139
531 901
517 554
481 025
433 312
.148
.151
.152
Price, wholesale (Minneapolis)
dol. per lb_.
.145
.138
.150
.160
.142
.156
.160
.153
'.148
P. 140
Soy beans:
Production (crop estimate)
thous. of bu_.
2 262 341
1Q Q7O
Consumption, factory _
do
20, 437
19, 201
18, 679
17, 291
20, 670
16 338
15 652
18 684
21 284
20 284
20 758
20 778
Stocks, end of month
do
49, 613
44, 764
34, 380
55, 817
26, 905
18, 865
7,613
16, 631
61, 401
61, 710
58, 531
54,485
56, 948
Soybean oil:
Production:
221, 783
208, 414
226, 293
190. 086
Crude
- - thous. oflb _ 200, 412
179 503 208 660
229 966
173 756
90S 7ftfi
219 304
226 320
228 433
214 418
186, 396
203, 529
185 566
198, 287
175, 291
155 987
Refined
do
18fi *\9Q
200 180
212 568
192 662
172 446
191 788
162, 942
175, 466
190, 474
182, 488
Consumption, factory, refmedt^- ---- do
155, 641
166, 319
191, 992
218 495
218 608
188 028
163 834
174 010
181 253
Stocks, end of month :
156, 308
158, 194
190 873
156 951
Crude
do
166 767
176 495
161 242
105 352
87 907
122 021 1 49 Q47 i *}ft m
88 437
ne Ann
88, 275
98, 342
103, 952
100, 864
106, 456
93 779
62, 353
82 103
69 052
Refinedt
do
74 423
80 822
99 466
.208
Price, wholesale, refined (N. Y.)~- dol. per lb_.
.191
.208
.208
.208
.208
.166
.188
.170
!l96
!l97
!l92
".185
2
'Revised.
* Preliminary.
i See note marked "§".
December 1 estimate.
JRevisions for 1952 will be shown later.
§Ineludes stocks owned by the Commodity Credit Corporation (beginning May 1953 for cake and meal and beginning 1952 for refined oil).
SURVEY OF CURRENT BUSINESS
S-26
April 1954
1954
1953
Unless otherwise stated, statistics through
1952 and descriptive notes are shown in the
1953 Statistical Supplement to the Survey
February
March
April
May
June
July
August
September-
October
November
December
January
136 217
16, 382
107 419
22, 021
107 291
21, 779
131 959
23, 393
February
CHEMICALS AND ALLIED PRODUCTS—Continued
FATS. OILS, ETC.—Continued
Vegetable oils, oilseeds, and byproducts — Con.
Margarine:
Production cf
thous oflb
Stocks (factory and warehouse) c?
do
Price, wholesale, vegetable, colored, delivered
(eastern U. S.)
dol. perlb._
Shortening:
Production
thous. oflb
Stocks end of month
do
114, 037
25, 364
113, 501
23, 911
93, 279
23, 105
89, 896
20, 817
103, 203
20, 246
89, 753
23, 366
96, 053
18, 372
114, 574
19, 350
124 242
26, 516
.284
.284
.284
.284
.274
.274
.274
.264
.264
.283
.283
.283
p. 273
134, 857
97, 290
137, 161
92, 646
141, 998
108, 894
118, 229
127,912
106, 815
126, 538
105, 858
113, 700
130, 906
100, 911
152, 322
89, 440
172, 988
84 703
191, 747
75, 793
139, 943
93 926
132, 504
92 000
155, 9Q§
93 446-
106. 176
43, 788
62, 388
121, 132
49, 645
71, 487
129, 534
52, 035
77, 499
131,004
52, 352
78, 652
133, 275
50, 970
82, 305
124, 953
48, 641
76, 312
121, 687
47, 970
73, 717
119, 213
45, 793
73, 420
116,432
46, 734
69, 698
98, 539
40, 709
57, 830
101, 632
39, 877
64, 755
99, 938
39, 855
60 083
2,575
6,207
593
521
3,348
7,102
706
713
3,184
7,044
659
6G2
3,243
6,073
662
683
3,590
6,770
691
594
2,718
5, 349
522
476
2,848
6, 259
597
449
3,387
7,393
644
427
3 664
7,478
650
441
2 999
5,803
633
401
32, 975
34, 374
16, 196
41,028
31, 228
8,246
21, 304
40, 843
40, 233
20, 111
46, 721
36, 439
9,420
22, 946
41, 551
35, 764
18, 498
46, 295
34, 274
8,882
22, 458
38, 299
39, 374
19, 856
46, 790
32, 980
8,700
23, 204
37, 633
36, 013
19, 442
44, 884
32, 600
8,480
23, 870
32, 362
32, 399
13, 745
40, 392
31, 420
10, 555
19, 176
35, 299
38 672
16, 347
43 592
28, 809
9 399
19, 268
38, 266
32 807
17, 010
40 381
28, 548
8 375
22, 055
35 895
28 717
17 635
41 170
31,922
10 161
24, 970
32
25
17
39
27
9
26
348
760
839
129
693
627
351
30 265
25 910
16 955
37 357
30. 673
9 543
26 099
30
30
17
40
28
9
24
PAINTS, VARNISH, AND LACQUER §
Factory shipments, total
Industrial sales
Trade sales
-
thous. of dol__
do
do --
SYNTHETIC PLASTICS AND RESIN
MATERIALS
Production:
Cellulose acetate and mixed ester plastics:
Sheets rods and tubes
thous. of Ib
Moldinr and extrusion materials
do
Nitrocellulose sheets rods and tubes
do
Other cellulose plastics
_
- do
Phenolic and other tar acid resins
Polystyrene
Urea and melamine resins
Vinvl resins
Alkyd resins
Rosin modifications
Miscellaneous resins
do
do
do__
do
do
do
do
T
r
r
92, 557
40, 217
52, 340
3,483
6.r 226
631
486
r
T
r
2 747
5 367
563
412
842
941
646
636
475
661
535
ELECTRIC POWER AND GAS
ELECTRIC POWER
Production (utility and industrial), total i
mil. of kw.-hr__
Electric utilities, total
- do
By fuels
do
By water power
- do
Privately and publicly owned utilities
mil. of kw.-hr_.
Other producers
do
Industrial establishments, total
do
B y fuels
_ _ _ _ _
._ d o
By water power
do
Sales to ultimate customers, total (Edison Electric
Institute) t
mil of kw -hr
Commercial and industrial:
Small light and power
_
_ _ do
Large li^ht and power
do
Railways and railroads
_
- do
Residential or domestic
do
Rural (distinct rural rates) __
_
do
Street and highway lighting
do
Other public authorities
do
Interdepartmental
do__
Revenue from sales to ultimate customers (Edison
Electric Institute) t
thous of dol
39, 165
33, 597
24, 603
8,995
42, 993
36, 969
26, 771
10, 197
41, 510
35, 627
25, 923
9, 705
41, 995
35, 982
25, 695
10, 288
42, 733
36, 827
27, 732
9,095
43, 927
38, 030
29 276
8,755
44, 497
38, 497
30 043
8,454
42, 923
37 038
29 449
7 589
43, 751
37 614
30 477
7 137
42,
36
29
6
317
378
471
907
45, 052
39 062
30 395
8 668
45, 478
39 423
30 524
8 899
40, 887
35 210
26 647
g' 56^k
28, 431
5,166
5,567
5,149
418
31, 249
5,720
6,024
5,572
452
30, 239
5, 388
5,882
5,426
456
30, 294
5,688
6, 013
5,578
435
31,317
5,510
5,905
5,511
395
32, 209
5,821
5 897
5,563
334
32, 331
6,166
6 000
5,718
282
31, 285
5 752
5 886
5 611
275
32, 252
5 361
6 137
5 853
284
31, 199
5 179
5 939
5 658
280
33, 480
5 582
5 990
5 624
366
33, 227
6 196
6 055
5 664
391
29, 478
5 724
5 676
5 291
385
30, 875
31, 664
31, 346
30, 991
31, 358
31,951
33, 031
32, 794
32 450
32 051
33, 040
34 235
5,411
14, 741
440
8,627
575
327
718
38
5,345
15, 684
462
8,383
683
325
734
49
5,287
15, 663
436
8,033
854
290
731
51
5,356
15, 749
412
7,614
809
272
727
53
5,620
16,037
394
7,438
801
255
758
55
6,081
15, 942
380
7,479
1,006
259
752
52
6,253
16 583
371
7, 546
1,180
283
757
56
6,191
16 343
369
7,651
1,120
309
759
52
5 917
16 274
393
7 833
870
345
772
46
5 785
15 794
401
8 248
645
367
767
43
5,927
15 765
445
9,104
583
394
778
43
6 104
15 668
459
10 163
612
395
787
47
557, 643
560, 606
554, 637
549, 247
555, 798
566, 985
580, 126
575 047
572 316
571 528
589, 705
611 624
GAS
Manufactured and mixed gas (quarterly) :J
Customers, end of quarter, total _ thousands
Residential (incl. house-heating) _ _ ___ __do
Industrial and commercial
do
Sales to consumers, total
mil. of therms
Residential
do
Industrial and commercial
_do
Revenue from sales to consumers, total
thous. of dol
Residential (incl. house-heating)
do
Industrial and commercial
do
Natural gas (quarterly) \\
Customers, end of quarter, total
thousands
Residential (incl. house-heating)
do
Industrial and commercial
do
Sales to consumers, total
mil. of therms
Residential (incl house-heating)
do
Industrial and commercial._- _do__
Revenue from sales to consumers, total
thous. of dol__
Residential (incl. house-heating)
do
Industrial and commercial
_ do
r
6,552
6,081
467
1,095
748
336
6,508
6,049
455
813
485
319
146, 648
108, 093
37, 524
111, 643
78, 965
31, 899
19, 690
18, 078
1,591
16, 249
6,757
8,855
756, 107
477, 947
265, 043
6 434
5,982
450
539
263
268
6 113
5,668
442
759
463
287
80, 574
54, 049
25, 939
107, 700
76, 534
30, 416
19, 721
18, 138
1,562
12, 606
3,510
8,541
19 849
18, 310
1 518
10 502
1 435
8,405
20 667
19, 003
1 640
14 099
4 021
9, 114
524, 442
280, 128
232, 779
371, 928
148, 604
210, 248
597 998
325, 396
255 373
r
Revised.
v Preliminary.
cf Revisions for production (September 1951-September 1952) and for stocks (December 1951-September 1952) will be shown later.
§ Revisions for 1952 appear in the September 1953 SURVEY; those for 1951 will be shown later.
^Revisions for 1952 for electric-power production and for gas are shown in the October 1953 SURVEY; those for electric-power sales and revenues, in the October and November 1953 issues.
SURVEY OF CURRENT BUSINESS
April 1954
Unless otherwise stated, statistics through
1952 and descriptive notes are shown in the
1953 Statistical Supplement to the Survey
S-27
1951
1953
February
March
April
May
June
July
September
9,458
8 905
11 005
August
October
November
December
January
February
8,339
8 757
10, 013
7 606
6 941
10 091
5 649
5 644
q 830
5 954
6 176
9 223
5 797
5 162
9 498
5 909
5 434
9 605
FOODSTUFFS AND TOBACCO
ALCOHOLIC BEVERAGES
Fermented malt liquors:
6,191
Production
thous. of bbl.
5,630
Tax-paid withdrawals
do
r
9, 794
Stocks, end of month
do
Distilled spirits:
r
Production
thous. of tax sraL.
9, 599
Consumption, apparent, for beverage purposes
thous. of wine gaL _
13, 597
9,124
Tax-paid withdrawals..
_.thous. of tax gal-890, 328
Stocks, end of month
_ _ do
1,302
Imports
__
.--thous. of proof gal. _
Whisky:
6,939
Production
thous. of tax gal..
5,307
Tax-paid withdrawals
do
733, 138
Stocks end of month
do
1,185
Imports
thous. of proof gal. _
Rectified spirits and wines, production, total
6, 634
thous. of proof gal. .
5,721
Whisky
do
Wines and distilling materials:
Sparkling wines:
73
Production
thous. of wine gal._
68
Tax-paid withdrawals _» _.
do
1,178
Stocks, end of month
do
23
Imports
-. - do
Still wines:
1,265
Production
do
9,963
Tax-paid withdrawals
do
205, 265
Stocks, end of month -.
_
do
295
Imports
do
722
Distilling material's produced at wineries, __do
7,683
6,658
10, 324
8,167
7,198
10, 720
7,791
7 118
10, 905
8,753
8,083
11, 062
12, 539
12, 116
11,812
11, 469
9,632
7,282
15 375
28 896
19 754
15 930
13 120
14 405
14, 785
11,311
887, 827
1,735
15, 277
10, 785
886, 619
1,469
16, 139
10, 799
884, 315
1,636
14, 686
10, 839
881, 824
1,594
14, 306
9,735
878, 764
1,521
14, 024
9,371
873, 616
1,490
16, 341
12, 633
867 166
2,159
18, 731
17, 257
861 353
2,967
19, 465
16, 690
857 234
2 743
22, 805
10, 479
859 297
2 207
12, 528
8, 650
861 381
1 336
10, 156
862 917
8,295
6,149
732, 448
1,639
8,053
5 917
731, 757
1,337
7, 232
5 608
730, 843
1,504
7,674
5 499
730 916
1,465
5,680
4 793
729, 729
1,415
3,974
5 241
725 979
1,350
7 263
7 301
722 169
1 970
10
9
718
2
9
9
715
2
435
102
087
524
9 270
5 982
716 439
1 990
8 301
4 878
717 441
1 218
9 020
5 315
718 413
8,313
7,217
7, 683
6,500
7,934
6 659
8,047
6 739
6,902
5,636
6,248
5 171
8, 930
7 740
10, 668
9 455
6,885
5 850
5, 533
4 634
5,745
4 834
101
88
1,185
40
249
86
1,343
39
151
101
1,386
44
148
97
1,427
46
82
67
1,435
31
112
95
1,448
30
106
131
1,416
45
99
84
1 060
27
1,212
12, 161
191, 805
478
1,075
1,097
11, 739
179, 567
486
1,561
1,221
10, 938
169, 669
409
534
1,126
9,804
158, 739
453
674
876
7,098
152, 280
409
1,839
1,679
8,576
143 810
325
4,020
102 960
99, 557
.668
122 585
132, 790
.668
133 995
149 876
.659
156 550
193 609
.658
157 010
257 447
.656
138 085
309 894
.656
84, 975
59, 935
218, 371
186, 776
3,559
105, 285
78, 875
232, 255
201,425
4,912
118, 535
92 625
262, 606
231, 524
4,503
149, 075
118 645
313, 276
279 886
4,944
151,415
121 645
373, 855
339 812
4,183
.422
.411
.407
.408
4,250
158 400 •
4,275
202, 200
4, 425
243. 500
10, 154
262, 904
9,489
237, 039
1,527
7,785
2, 423
11, 106
9,905
9 210
11, 104
094
406
330
773
11,470
9 964
96
174
76
197
81
198
1 320
1 186
1 052
88
121
17 237
10, 979
149 723
425
44, 669
64 847
12 819
206 868
20 755
12 440
214 956
4 148
12? 966
202 631
128, 626
35, 234
4,971
1 398
9 120
193 413
313
1,670
119 645
334 853
.661
96 730
323 077
.670
92 375
311 574
.682
90 765
290 598
.676
108 240
281 702
.666
m dfi^
7-294. 047
.659
128, 460
102 000
420, 281
385 445
2 121
114 330
88 730
445, 575
410 733
2 824
97
72
460
426
5
87
61
448
416
3
82
%
432
400
7
.406
.405
.405
.407
424
427
5 285
323 000
3 775
327 900
2,710
262 400
2 390
228 500
2 300
170 000
3 000
162 200
7,849
262, 601
8 688
365, 232
9 579
475, 333
r
7 041
511,683
6 066
524 007
5 123
481 196
5 248
410 255
1,969
8,827
2,718
13, 439
539
14, 848
2,916
11, 957
937
10, 449
1 085
13, 997
658
128
11 337
14 427
'64
500
699
707
DAIRY PRODUCTS
Butter, creamery:
Production ( factory) J
thous of Ib
Stocks cold storage, end of month
do
Price, wholesale, 92-score (New York) _ -dol. per lb__
Cheese:
Production (factory), total t -thous. of lb_
American, whole milkj
do .
Stocks, cold storage, end of month, total
do
American, whole milk
_ do _
Imports _
-do
Price, wholesale, American, single daisies (Chicago)
__ . _dol. perlb._
Condensed and evaporated milk:
Production , case goods :t
Condensed (sweetened)
thous. of Ib
Evaporated (unsweetened)
do
Stocks, manufacturers', case goods, end of month:
Condensed (sweetened)
thous. of Ib
Evaporated (unsweetened) _ _
do
Exports:
Condensed (sweetened)
_do
Evaporated (unsweetened) ..
do
Price, wholesale, U. S. average:
Evaporated (unsweetened)
dol. per case..
Fluid milk:
Productiont
mil. of Ib
Utilization in mfd. dairy products
_ do
Price, dealers', standard grade
dol. per 100 lb__
Dry milk:
Production:!
Dry whole milk
thous. of lb_.
Nonfat dry milk solids (human food)., do
Stocks, manufacturers', end of month:
Dry whole milk
_
do
Nonfat dry milk solids (human food)
do
Exports:
Dry whole milk- .
do
Nonfat dry milk solids (human food)
do
Price, wholesale, nonfat dry milk solids (human
food), U. S. average
...dol. per lb__
500
450
488
383
540
775
505
787
095
602
390
230
325
983
186
.658
735
135
454.
990
233
97 190
7n' 81 n
427 H8
415
403
393
3 175
152 500
1 800
155 700
2 360
1 87^
1 A^' ftflfl
6 047
339 808
4 897
262 913
192 760
91
63
r 432
r 401
5
175
225
008
168
860
' 98
72
r 427
r 397
2
QAQ o4n
4
747
7KO
6 119
46
8 215
5.76
6.21
6.12
5.96
5.92
5.79
5.76
5.81
5.79
5.80
5.85
5.82
8 555
3,346
5.40
10 191
4,059
5.27
10 910
4 522
5.05
12 637
5 435
4.92
12 449
5 492
4.87
11 603
4 742
M.99
10 624
4 146
r
5.05
9 306
3 374
5.15
8 878
3 174
5.20
8 359
3 062
5.23
Son?
7,325
81 200
8,800
111 250
8,750
129 600
9,450
154 750
9,375
144 300
10, 050
114 750
10, 050
91 900
8,620
67 050
9,000
65 150
12 794
129, 057
13. 211
133, 159
13 402
129, 097
14 907
154, 021
14 423
156, 892
13 560
131, 826
14 110
114, 632
11 512
84, 421
2,850
1,690
5,371
2,260
3,824
8,073
3,394
7,832
2 920
5,131
4 378
14, 323
6 105
7*801
.160
.158
.153
.149
.147
.146
2 671
10, 775
2 762
6,386
2 290
3,278
1 535
1,377
655
306
10, 891
11, 293
11,320
12, 370
496, 233
449, 348
441, 235
456, 980
450, 265
419, 899
384, 285
361, 217
384, 292
OQO KQ/1
4
784.
127 681
5.73
q CAR
r "Z 7Qfi
5.18
5.11
5.03
8,420
68 290
7,970
OA ocfi
6,360
6,165
11 716
67, 925
11 316
67, 893
10 220
74, 094
81, 056
3 648
3,676
3 014
4,854
3 004
15, 357
4 844
7,004
18, 674
.146
.147
.149
.152
.153
.152
.151
279
128
180
509
70fi
7,887
790
9 f^AS
29, 444
25, 331
19, 894
r 14, 943
2, 119
10, 646
12, 383
9,360
6,582
6,947
5,981
6,805
12, 583
r
10, 145
9,270
487, 259
568, 132
602, 001
580, 867
581, 706
571, 762
568, 905
r
593, 592
622, 251
468, 377
573, 601
688, 353
737, 427
722, 109
704, 586
r
630, 201
561, 462
9
ann
88, 377
FRUITS AND VEGETABLES
Apples:
Production (crop estimate)
thous. of bu._
Shipments, carlot
no of carloads
Stocks, cold storage, end of month. -thous. of bu._
Citrus fruits, carlot shipments
no. of carloads..
Frozen fruits, stocks, cold storage, end of month
thous. of lb__
Frozen vegetables, stocks, cold storage, end of
month
.-thous. of lb__
Potatoes, white:
Production (crop estimate)
thous. of bu._
Shipments, carlot
...no. of carloads..
Price, wholesale, U. S. No. 1 (New York)
dol. perlOOlb..
i 92 584
3
20, 694
24, 911
19, 499
19, 171
25, 201
15, 744
11, 860
15, 797
17, 865
14, 728
373 711
15, 412
5.317
3.969
4.013
4.085
2.917
2.230
3.165
3.060
3.325
3.313
3.050
' 20, 402
18, 870
r 2. 981
v 2, 981
9
Revised.
* Preliminary.
1 December 1 estimate.
{Revisions prior to December 1952 are available upon request as follows: Beginning 1951 for cheese, condensed milk, and nonfat dry milk solids; beginning 1952 for butter evaporated
milk, and dry whole milk. Revisions for January-December 1952 for fluid milk production are shown in corresponding note in the March 1954 SURVEY.
evdpuidieu
SUKVEY C
S-28
Unless otherwise stated, statistics through
1952 and descriptive notes are shown in the
1953 Statistical Supplement to the Survey
CURRENT BUSINESS
April 1954
1954
1953
February
March
April
July
June
May
August
Septem- October
ber
November
Decem- January
ber
February
FOODSTUFFS AND TOBACCO—Continued
GRAIN AND GRAIN PRODUCTS
Exports, principal grains, including flour and meal
thous. of bu__
Barley:
Production (crop estimate)
do
Receipts principal markets
do
Stocks, domestic, end of month:
Commercial
do
On farms
do
Exports including malt
do
Prices, wholesale (Minneapolis) :
No. 2, malting
_dol. per bu__
No 3 straight
do
Corn:
Production (crop estimate)
mil of bu
Grindings, wet process
thous. of bu_.
Receipts, principal markets
do
Storks, domestic, end of month:
Commercial
do
On firms
mil ofbu
Exports including meal
thous of bu
Prices, wholesale:
No. 3, white (Chicago)
dol. per bu_.
No 3 yellow (Chicago)
_
do
Weighted average, 5 markets, all grades do
' 39, 354
48,094
'38,366
r
33, 838
7,005
9,402
8,161
7,479
10, 717
7,555
5,960
2,161
7,992
57, 396
2,556
1,096
1.495
1.395
1.521
1.459
10, 336
18, 195
11, 373
21, 403
46, 100
' 7, 635
37, 288
1, 466. 4
9,013
f.3)
1.551
1.525
' 30, 837
«• 37, 322
r
31, 997
T
35, 075
r
30, 780
31, 072
25, 483
i 241, 015
8,860
6,527
8,037
25, 503
18, 423
11 510
8,235
9,070
12, 188
12, 222
960
2,209
14,631
148, 842
2,478
12, 609
1,064
6,949
25, 567
1,018
3 865
1.538
1.446
1.531
1.387
1.440
1.265
1.420
1.236
1.511
1.374
1.479
1.344
11, 406
19,601
11, 134
20, 621
II, 033
24,690
9,772
24, 231
10, 629
25,011
29, 840
21, 740
10, 218
9,459
t>, 381
2
8,613
12 386
11, 085
10, 22g
2,175
12, 659
107, 770
1 51
1.516
1.417
1.515
1.438
1.513
1.436
1.520
1.474
1.509
1.441
10, 769
25, 234
12, 438
52,068
10, 515
48, 836
3, 177
10, 240
18, 424
10, 021
21, 389
10, 232
25, 032
9,365
329. 6
10, 469
23, 072
45,703
35, 338
13, 512
13, 146
43. 106
2, 138. 5
10.808
38, 221
8,741
(3)
1.553
1.521
thous. of bu._
do
Exports including oatmeal
do_
Price, wholesale, No. 3, white (Chicago)
dol. per bu__
8, 833
' 12, 512
15, 774
995.3
11, 939
2.095
1.562
1.540
(3)
1.573
1.557
(3)
1.600
1.578
(8)
1.546
1.522
(»)
1.579
1.511
(»)
1.603
1.550
1.618
1.658
1.568
1.561
1.461
1.443
1.491
1.448
1.439
(»)
1.563
1.530
6,884
6,796
4,714
4,854
7,780
17, 033
24,375
8,784
5,908
6,187
i 1,216
8,131
19, 819
12, 734
456, 956
11, 740
10,828
18, 348
22, 945
18, 453
286
328
452
327
27, 122
984 324
22, 908
935
11, 958
2 220, 067
••327
305
296
310
.797
.782
.772
.752
.760
.770
.743
.752
.742
r
2
261
.800
Rice:
California:
Receipts domestic, rough
_ thous. of Ib . 89, 398
78, 442
Shipments from mills, milled rice
do
Stocks, rough and cleaned (cleaned basis), end
62,
143
of month
thous. of lb__
Southern States (Ark., La., Tenn., Tex.):
61,
571
Receipts, rough, at mills
.thous. of lb__ r
166, 138
Shipments from mills milled rice
do
Stocks, domestic, rough and cleaned (cleaned
basis) end of month
thous. of lb_ . 550, 824
80, 638
Exports
do_
.108
Price, wholesale, head, clean (N. 6.)_dol. per lb_.
239
2,254
1.751
90,896
49,060
72, 663
76, 436
96,375
63, 242
78,020
55, 941
79, 454
49, 364
74, 247
48,063
48, 982
44, 537
49, 517
6,282
17, 044
73, 162
8,169
106, 741
9,937
147, 581
15, 567
131, 382
6,261
84, 077
450, 783
127, 449
482, 864
114, 383
.121
370, 233
113, 180
.124
235, 052
62, 057
.124
111, 633
63,625
.124
29,640
125, 925
.124
188, 443
56, 803
!093
240
1,488
3,373
1.614
1,201
3,627
1.516
3,630
1.388
1,136
3,755
1.268
1,916
4,288
1.249
2,186
1.753
502
r
13,815
54, 191
154, 646
122, 947
Receipts, principal markets. _
thous. of bu._
M "h t ill<!
On farms
Exports total including
Wheat only
flour
Ho
do
do
do
Prices, wholesale:
No. 1, dark northern spring (Minneapolis)
dol. per bu_.
No. 2, hard winter (Kansas City)
_do__ _
No. 2, red winter (St. Louis)
_ _ do
Weighted avg., 6 markets, all grades
_do
Wheat flour:
Production:
Flour
_
-_ thous. of sacks (100 Ib.)
Operations percent of capacity
Offal
_ __ _ . _
short tons
Grindings of wheat
thous. o f b u . .
Stocks held by mills, end of quarter
thous of sacks (100 Ib )
Exports
.
do
Prices, wholesale:
Spring, short patents (Minneapolis)
dol. per sack (lOOlb.)..
Winter, hard, short patents (Kansas City) -do
r
2
4,542
4,660
15, 066
13, 406
462
1S6
.794
.814
.788
149, 459
125, 900
135, 181
104, 782
J
52, 529
129, 132
79, 990
194, 685
54, 068
9,373
83, 259
72, 152
86, 161
65, 802
55, 934
950, 658 1, 227, 523
212, 755
315, 693
520, 281
250, 994
180, 844
204,667
171, 225
243, 252
133, 8te
169, 91$
572, 192 1, 040, 286 1,112,950 1, 000, 652
207, 046
153, 150 ' 245, 765
113, 178
.094
.094
.085
.093
859, 670
' 189, 258
.094
770, 187
* 17, 998
1,713
11, 028
1.287
292
11, 002
1.313
433
10, 309
1.249
20, 715
20,883
368, 888
366, 412
328, 623
320, 777
924
2,663
6,240
1.156
5,923
1.226
4,877
6,008
1.249
i 1, 168. 5
1291.0
1
877. 5
18, 403
210, 662
15, 809
19, 833
265, 543
25, 917
27, 035
79, 993
281, 636
103, 118
38, 907
40, 988
189 883
32, 871
31,822
265, 465
272, 551
841, 919
217, 258
268, 135
251, 841
287, 303
339, 156
205, 929
342, 428
351, 632
305, 420
1,541 569
359, 213
324, 932
211, 909
239, 783
2 562, 535
2 239, 330
267, 564
231, 647
352, 932
344, 218
377, 855
1,332,359
333, 815
29, 298
25, 586
246, 186
101, 691
269, 523
35, 586
32, 491
13, 107
9, 524
15,441
12, 112
423 396
123, 467
424, 057
13,262
9,679
12, 392
9,609
28, 151
24, 725
2 183, 328
2 58, 408
2 73, 105
' 19, 934 «• 17, 554 ' 26, 529
' 16, 149 ' 13, 371 r 23, 081
r
T
1.655
1.553
1.495
13, 388
4,953
Wheat:
Stocks, end of month:
Canada (Canadian wheat)
do
United States domestic total cf
do
Commercial
do__ _
Interior mills, elevators, and warehouses
6 860
18, 295
778, 541
1
Rye:
Production (crop estimate)
thous of bu
Receipts principal markets
do
Stocks, commercial, domestic, end of month. _do
Price, wholesale, No. 2 (Minn.)
dol. per bu_.
w
416
1
Oats:
Receipts, principal markets
Stocks, domestic, end of month:
Commercial
19, 854
20, 719
18, 911
458 641
134 477
563, 569
r
21. 824
19, 066
r
r
'.093
2.551
2.529
2.387
2.270
2.529
2.558
2.355
2.145
2.530
2.492
2.036
1.793
2.265
2.443
2.086
1.808
2.202
2.474
2.175
1.822
2.439
2.514
2.217
1.899
2.533
2.621
2.288
1.882
2.562
2.623
2.337
2. 015
2.578
2.601
2.375
2.051
2.596
2.577
2.379
2.194
2.537
2.576
2.393
2.226
2.570
17, 041
79.0
336, 676
39, 435
18, 565
78.0
363, 955
42,903
17, 351
73.5
341, 898
40, 103
17, 695
78.8
347, 478
40,904
18, 035
76.6
356, 570
41, 767
18, 720
75.6
371, 059
43, 344
18, 177
81.1
364, 650
42, 198
19, 442
86.7
393, 577
45, 328
20, 772
88.2
433, 837
48, 436
17, 944
83.8
362, 192
41, 770
18, 327
77.6
365, 748
42, 504
18, 962
88.6
380, 153
43, 971
17, 361
81.7
344, 611
40, 222
1,593
4,544
1,328
1,471
1,624
4,093
1,795
' 1, 480
r776
4 589
1, 184
1,537
1,429
4 476
1,538
1,195
5.855
5.425
6.075
5.675
5.980
5.675
5.935
5.675
5.550
5.150
5. 925
5.275
6.100
5.525
6.250
5.855
6.470
5.950
6.500
6.120
6.355
5.935
' 6. 335
' 6. 060
2.492
2. 358
2.355
2.505
2.521
2.395
(3)
r
* 6. 385
J»6. 100
Revised.
v Preliminary.
December 1 estimate.
3
Old crop only; new grain not reported until beginning of new crop year (July for barley, oats, and wheat; October for corn).
No quotation.
9Bags of 100 Ib.; prior to the October 1953 SURVEY, data were shown in thous. of bu. of 45 Ib.
cfThe total includes wheat owned by the Commodity Credit Corporation and stored off farms in its own steel and wooden bins; such data are not included in the breakdown of stocks.
SURVEY OF CURRENT BUSINESS
April 1954
S-29
1953
Unless otherwise stated, statistics through
1952 and descriptive notes are shown in the
1953 Statistical Supplement to the Survey
February
March
April
May
June
1954
July
August
September
October
November
December
January
February
FOODSTUFFS AND TOBACCO—Continued
LIVESTOCK
Cattle and calves:
Slaughter (federally inspected) :
Calves . _.thous. of animals. .
Cattle
do
Receipts principal markets
- do
Shipments, feeder, to 9 corn-belt States
do
Prices, wholesale:
Beef steers (Chicago).
dol. per 100 Ib_.
Steers, stocker and feeder (Kansas City) .-do
Calves vealers (Chicago)
do
Hogs:
Slaughter (federally inspected)
thous. of animals. .
Receipts principal markets
do
Prices:
Wholesale, average, all grades (Chicago)
dol. per 100 lb_.
Hog-corn price ratio
bu. of corn equal in value to 100 Ib. of live hogSheep and lambs:
Slaughter (federally inspected)
thous. of animals ..
Receipts principal markets
do
Shipments, feeder, to 9 corn-belt States
do
Prices, wholesale:
Lambs, average (Chicago)
dol. per 100 lb__
Lambs, feeder, good and choice (Omaha).. do
422
1,170
1,609
86
535
1,299
1,952
124
541
1,371
2,019
161
504
1,345
2,055
160
586
1,450
2,440
184
616
1,498
2,258
211
602
1,494
2,559
265
687
1,644
2 770
446
776
1 782
3 095
773
658
1 609
2 997
643
634
1,653
2 342
286
546
1,541
2 245
206
518
1,302
1 844
184
23.41
20.91
33.50
21.98
21.19
29 00
21.50
19.91
25 50
21.83
19.80
27 50
21.73
15.22
19 50
24. 26
16.75
23.00
24.79
15.78
23 50
25.41
15.07
21 00
25.35
15. 74
22 50
24.83
17.56
22 00
23 65
17.63
22 50
23.93
19.83
27 00
v 28 00
4,550
2,562
4,962
2,785
4,325
2,358
3,643
2,031
3,607
2,119
3,276
1,837
3,396
1, 867
4,059
2 169
4,994
2 665
5,540
2 950
5,194
2 7*?!
4,712
2 503
3,883
19.39
20.50
21.88
23.54
23.24
23.29
22.97
24.18
21.54
20.80
23.69
24.82
25.45
13.5
13.8
14.2
15.5
15.5
16.5
15.9
15.9
15.9
15.0
16.2
17.3
17.7
1,088
1,038
90
1,190
1,173
122
1,100
1,115
99
1,015
1,147
131
1,055
1,108
102
1,108
1, 159
136
1, 158
1,483
291
1,366
1 822
547
1,529
2 026
754
1,159
1 412
292
1,227
1 182
185
1,241
1 190
197
1,090
1 032
175
22.38
20.01
23.12
20.83
24.00
(0
25.12
0)
25.50
(0
25.38
17.94
23.38
17.78
19.25
15.57
19.00
16.41
19.25
18.22
19.25
18.00
20.62
19.14
20.26
1,572
1,712
1,649
1,537
1,617
1,579
1,525
1,675
1,913
1,941
1,952
1,836
1,517
1,043
63
990
55
929
55
818
50
749
46
638
50
532
50
460
40
460
36
593
59
716
60
••761
45
750
701, 489
274, 457
1,272
779, 450
256, 439
1,368
826,083
234, 891
1,794
812, 729
210,274
1,965
859, 894
190, 408
2,848
877, 290
163, 626
3,073
860, 476
153, 672
2,973
925, 007
159, 376
2,273
994, 342
183 864
2 942
897, 620
215 352
13 685
895, 446
939, 793
269 668 T 247 39 t
1 067
3 848
761, 153
224 578
22.96
20.02
2 098
21.25
MEATS
Total meats (including lard) :
Production (inspected slaughter)
mil. of lb_.
Stocks (excluding lard), cold storage, end of month
mil. of lb_.
Exports
.
do
Beef and veal:
Production (inspected slaughter)
thous. of lb._
Stocks, cold storage, end of month
do
Exports
-do
Price, wholesale, beef, fresh, steer carcasses, choice
(600-700 Ibs.) (New York)
-dol. per lb_.
Lamb and mutton:
Production (inspected slaughter)
thous. of lb_.
Stocks cold storage end of month
do
Fork, including lard, production (inspected
slaugh ter)
thous . of Ib _ .
Pork, excluding lard:
Production (inspected slaughter)
do
Stocks cold storage end of month _
do
Exports
do
Prices, wholesale:
Hams, smoked, composite
dol. per lb..
Fresh loins, 8-12 Ib. average (New York)_do
Lard:
Production (inspected slaughter)
thous. of lb_.
Stocks, dry and cold storage, end of month f. do
Exports
..
do
Price, wholesale, refined (Chicago).. dol. per lb.-
.432
.392
.382
.385
.387
.426
.432
.451
.427
.431
.424
.431
.396
53, 166
22, 206
58, 129
19 945
52, 458
17 493
46, 755
14, 720
44, 558
13, 461
47, 324
10, 410
49, 401
9,460
57, 474
10 113
64, 856
10 762
51, 566
11 151
57, 079
12 232
59, 522
r 11 4(\Q
53, 274
816, 995
874, 686
770 875
677, 203
712, 978
654, 193
614, 699
692 034
853 449
991 497
954 712
881 313
7O9 1 RQ
601, 403
606, 277
9,983
650, 145
569, 204
7,745
570, 190
538 025
5,210
502, 422
459, 755
6,392
533, 230
414, 227
6,768
489, 360
350, 825
6,694
469,818
265, 9^1
5,865
531, 761
200 597
5,176
648, 115
181 279
4,843
743, 793
266 170
4,419
710, 666
326 098
7 708
r ^Q0. '°.07
658, 662
526, 049
.595
.464
.602
.479
.592
.523
.619
.567
.650
.576
.683
.597
.675
.570
.623
.543
.544
.516
.558
.452
.657
.509
.673
.550
157, 799
241, 890
45, 881
.125
164, 072
239,009
39, 862
.135
146, 255
225, 936
40, 675
.135
128, 166
200, 621
33, 841
.150
130, 863
169,311
28, 908
.140
120, 175
109, 342
33, 193
.163
105, 809
55, 637
34, 505
.183
116, 615
42, 439
24,412
.233
149, 478
45. 205
19 402
.205
180, 413
51, 462
32 857
.193
178, 155
74, 322
38 187
.205
1 62, 245
75, 525
128, 867
72, 920
.208
P. 213
34, 125
220, 606
39 046
174, 243
40 934
140, 371
44, 435
123, 485
46, 431
117, 876
46 075
112, 460
46 364
127, 340
56 985
176, 385
69 572
259 085
79 448
287 153
65 890
275 887
37, 325
35, 734
5, 448
5, 476
T
r
1 fi T^A.
AnB
O9.fi
5 136
oo (\c\-r
p. 638
.541
POULTRY AND EGGS
Poultry:
Receipts 5 markets
thous. of Ib
Stocks cold storBge, end of month
do
Price, wholesale, live fowls, heavy type, No. 1
(Chicago)
dol. per Ib
Eggs:
Production, farm
millions
Dried egg production
thous. of Ib
Stocks, cold storage, end of month:
Shell
thous. of cases..
Frozen
thous . of Ib _ _
Price, wholesale, extras, large (Chicago)
dol. per doz. .
.318
.333
.345
.325
.245
.275
.255
.255
235
230
250
5,328
1,168
6,298
2,120
6 094
2,181
5,872
2,499
5,051
1,903
4,642
2,092
4,346
1,979
4 206
1,441
4 614
1 144
4 803
1 310
5 267
1 242
248
42, 419
375
65, 201
816
98, 978
1,431
132, 294
1,513
159, 755
1,199
152, 835
827
133, 427
494
109, 869
288
86, 867
137
61, 014
89
42, 030
.443
.495
.497
.486
.517
.531
.587
.624
.613
.543
.479
.472
.450
109, 988
92, 911
85, 262
78, 876
8,026
.449
30, 242
.468
43 394
.542
p . 535
1,814
1 164
778
1,848
1,725
1, 055
723
2,489
'75
' 38, 244
136
40, 830
MISCELLANEOUS FOOD PRODUCTS
56, 041
63,522
81, 213
83, 063
48, 895
63, 932
77,096
Confectionery, manufacturers' salesj. -thous. of dol._
104, 262
110, 496
Cocoa:
26, 164
28, 493
24, 705 '21,593
13, 574
20, 859
27, 425
Imports
long tons..
10, 587
8,504
.346
.334
.328
.300
.385
.386
.339
Price, wholesale, Accra (New York).. dol. per lb_.
.403
.400
Coffee:
1,149
1,374
1,160
860
860
999
Clearances from Brazil, total
thous. of bags..
1,286
1,870
1,544
411
685
526
776
To United States
do._
757
361
744
1,122
873
666
511
634
700
776
531
582
Visible supply, United States
do
'812
628
T
1,278
1,256
2, 152
1,815
2,249
1,470
Imports..
do
1,320
2,130
1,261
Price, wholesale, Santos, No. 4 (New York)
.560
.553
.553
.593
.618
.615
.573
dol. perlb..
.600
.615
Fish:
47, 314
75,903
75, 392
60,155 '45,034
34, 911
31,514
Landings, fresh fish, 5 ports
thous. of lb._ ' 23, 690
38, 692
113, 581
142, 655
169, 686
176, 680
109, 189
119.099
Stocks, cold storage, end of month
do
174. 640
'142,040
176. 047
r
!
Revised.
» Preliminary.
No quotation.
tRevised series. Compiled by the U. S. Department of Commerce, Bureau of the Census, representing factory and warehouse stocks of rendered
will be shown later.
I Revisions for 1952 are shown in the August 1953 SUBVEY.
1,219 _
662
1,009
r
2 275
.585
.613
.725
.760
34, 244
179. 370
23,950
176. 249
26. 173
1 54. 570
138 4R8
and refined lard; data prior to June 1952
SURVEY OF CUBRENT BUSINESS
S-30
Unless otherwise stated, statistics through
1952 and descriptive notes are shown in the
1953 Statistical Supplement to the Survey
April 1954
1954
1953
Febru-
ary
March
April
May
June
July
August
Septem-
ber
October
Novem-
Decem-
ber
ber
January
Febru-
ary
FOODSTUFFS AND TOBACCO—Continued
MISCELLANEOUS FOOD PRODUCTS—Con.
Sugar:
Cuban stocks, raw, end of month
thous. of Spanish tons..
United States:
Deliveries and supply (raw basis) :
Production and receipts:
Production
short tons..
Entries from off-shore
do
Hawaii and Puerto Rico
do
r
2, 530
3,801
4,906
4,676
4,364
3,908
3,218
2,658
3,078
2, 083
1,737
1,607
2, 436
34, 014
398, 576
143, 730
37, 407
627. 988
192, 443
59, 948
854, 355
248, 129
12, 283
530. 430
235, 756
51. 262
628, 878
180, 490
26, 860
607 226
234, 674
37, 059
614, 988
182, 958
117, 506
563, 878
237, 561
643, 637
461 177
238, 494
812, 373
254 321
97, 620
473, 347
117 126
61. 688
137, 932
320 741
52 886
5,07 709
10S 657
878, 155
876, 548
1,607
588, 583
587, 001
1,582
599, 440
597, 627
1,813
790, 640
779, 785
10, 855
886. 890
885, 1 68
1,722
778, 556
777, 391
1,165
844, 285
842, 829
1,456
641, 490
639 991
1,499
580, 278
574 693
5,585
801, 571
800 569
1,002
1,306
441
1,392
685
1,423
9,095
1,312
14,326
1,103
11,473
966
21, 879
851
526
1,186
303
1,691
3,897
1,693
596
390, 371
221, 650
162, 388
339, 220
238 565
91 880
330, 805
266, 009
64, 421
321, 374
201, 899
92, 486
180, 291
118 650
56, 920
140, 910
86 401
45 512
157. 648
118 711
38, 640
275. 725
238 950
36 267
38 937
37 178
47 760
44, 598
27, 116
26, 437
2 057
250
4 220
132
301
20 151
13 694
' 547, 716
Deliveries, total
do
' 546, 506
For domestic consumption
do
For export
-- do
1,210
Stocks, raw and refined, end of month
1,513
thous. of short tons__
10, 356
Exports
short tons__
Imports :cf
260, 306
Raw sugar, total
- .. _._do
178, 519
From Cuba
do
81, 667
From Philippine Islands
. _
-do _
Refined sugar total
From Cuba
Prices (New York) :
Raw wholesale
Refined:
P,etail9
Wholesale
Tea imports
_ __ .
-
' 341 , 705 ' 328, 791
r
274 851
' 62, 594
' 225, 5«9
93, 039
54 78?
46, 720
40 271
40, 226
r
503 522
,W 654
' 501
513 532 856
T
2 009
1 798
' 1, 668
631
28 173
25, 614
46, 834
39, 549
55 961
48 433
dol. per Ib
.062
.064
.064
.064
.064
064
.064
.064
.064
061
.060
060
P 060
dol. per 51b_.
dol. perlb._
thous. of Ib.
.493
.083
7,949
.490
.086
10, 590
.495
..086
11,141
.495
.086
7,943
.495
.086
9,215
.498
.086
7, 506
.500
.087
7,766
.502
.087
10, 364
.503
.087
9,491
.500
.085
6,851
.497
.085
8,760
.497
.085
10-, 004
.498
p 085
do
do
--.
361,182
303, 479
55, 438
r
TOBACCO
Leaf'
Production (crop estimate)
mil. of Ib
Stocks, dealers' and manufacturers', end of quarter total
-mil. oflb..
Domestic:
Cigar leaf
do__
Air-cured, fire-cured, flue-cured, and miscellaneous domestic
mil. of Ib
Foreign grown:
Cigar leaf
do
Cigarette tobacco
do _
Exports including scrap and stems __ thous. of Ib
Imports including scrap and stems
do
Manufactured products:
Production, manufactured tobacco, total. _. do
Chewing plug and twist
-_
do
Smoking
do
g nu ff
.
do
Consumption (withdrawals) :
Cigarettes (small) :
Tax-free
-- -- .millions
Tax-paid
do
Cigars (large) tax-paid§
_
thousands
Manufactured tobacco and snuff, tax-paid §
thous. oflb..
Exports cigarettes
millions
Price, wholesale, cigarettes, manufacturer to
wholesaler and jobber, f. o. b. destination
dol. per thous..
1
4,485
2 046
4,513
4,225
4,037
391
369
340
319
3,908
3,472
3,703
3,995
22, 900
8,291
19
167
41,020
' 9, 086
50, 103
7,961
r 35, 903
r
8, 788
18
178
33, 263
9,578
24, 649
7 662
' 32, 121"
9,268
16,385
6,638
6,639
3,108
17, 947
7,138
7,458
3, 352
18,326
6,935
8.064
3,328
17,806
7,246
7,494
3,066
18, 170
7,347
7,430
3,393
1 5, 999
7,194
6,301
2,504
17,814
6,879
7,569
3,367
2,394
32, 212
542, 594
3,856
34, 105
469, 164
2,703
31,607
477, 520
2,658
30, 587
507, 629
3,130
33, 304
501, 499
3,339
29, 914
463, 787
15, 480
1,348
17,056
1,813
17,887
1,331
17, 488
1,482
17, 812
1,119
3.555
3.938
3.938
3.938
3.938
18
163
' 68, 694 r 56, 183
9 269
10, 475
52, 327
8 549
18
181
68, 538
7,582
30, 390
8 125
18, 833
7,239
8,302
3,281
19, 273
7,473
8,424
3,376
16, 170
6,808
6,307
3, 055
' 14. 735
5.978
5.373
3,384
15, 502
6 796
5,549
3, 157
2,770
34, 658
497, 670
3,585
33, 598
518, 748
2,813
34, 860
540, 124
3, 535
30, 338
547 704
3.534
29. 141
443, 532
2,700
28, 858
401 693
15, 862
1,321
17, 539
1,158
18, 103
1,535
18, 580
1,178
15, 825
r 1, 241
15, 213
1,416
14, 997
1 274
3.938
3.938
3.938
3. 938
3. 938
3.938
3. 938
13, 646
188
26
2,121
2,760
' 15, 353
150
41
2,666
2,680
10, 934
208
40
1,726
1,157
9,454
47
23
2,364
1,230
8,770
81
36
2.034
1,033
8, 232
123
20
2,051
1,087
p 3. 938
LEATHER AND PRODUCTS
HIDES AND SKINS
Imports total hides and skins
thous. oi Ib
Calf and kip skins
thous. of pieces
Cattle hides
. _. _.do
Goat and kid skins
do .
Sheep and lamb skins
do
Prices, wholesale (Chicago) :
Calfskins, packer, heavy, 9^/15 lbs_. dol. per lb._
Hides, steer, heavy, native, over 531bs
do
LEATHER
Production:
Calf and kip
.thous. of skins. _
Cattle hide
thous. of hides
Goat and kid
thous. of skins
Sheep and lamb
-do
Exports:
Sole leather:
Bends backs, and sides
thous. ollb
Offal including belting offal
_
do.
Upper leather
thous. of sq. ft
Prices, wholesale:
Sole, bends, light, f. o. b. tannery
dol. perlb_.
Upper, chrome calf, B and C grades, f. o. b. tan
nery
dol. per sq. ft..
T
' 15, 807
20, 258
268
187
'91
47
3,168
2,731
' 4, 240 '1,893
'11,211
72
38
2, 464
1,431
13, 093
217
41
2,870
1,759
18, 407
123
31
3, 055
4,466
18, 166
253
21
3,032
3,826
.550
.137
.563
.128
.513
.138
.613
.153
.625
.150
.513
.158
.513
.170
.500
.170
.400
.148
.468
.153
.438
.123
.413
'.120
857
2.006
2,709
2,368
936
2,020
3,172
2,319
871
2, 133
2,979
2,435
849
2,117
2,922
2,618
827
1,998
3,121
2,520
685
1,815
2,828
2,103
790
1,978
2,354
2,558
839
1,893
2,241
2,433
804
2,065
2, 580
2,409
724
1,901
2,115
2,192
846
' 1, 978
'r 2, 353
1, 825
804
1,949
2,262
1,648
82
33
2,743
42
76
2,996
23
73
4,002
65
55
3,959
24
53
3,492
23
75
2,825
21
21
2,840
52
63
3,383
67
56
2,996
51
68
2,929
26
39
3,159
21
29
3, 160
p. 413
P. 102
.680
.690
.680
.725
.720
.690
.690
.690
.670
.675
.655
.665
p. 660
1.000
1.013
1.007
1.125
1.127
1.082
1.042
1.042
1.002
.998
.998
'.985
P. 948
Revised.
p Preliminary.
December 1 estimate.
d'Revisions for 1952 (short tons): Raw sugar, total—March, 398,577; April, 349,035; August, 352,786; September, 310,348; October, 124,974; from Cuba—April, 285,529; August, 251,364September, 245,486; October, 97,336; from Philippine Islands—March, 91,394.
9 Data for January-June 1953 represent price for New York and Newark; thereafter, for New York and Northeastern New Jersey.
§ Revised to represent data based on number of stamps used by manufacturers; revisions prior to May 1952 will be shown later.
1
SURVEY OF CUEEENT BUSINESS
April lf>.->4
195 1
1953
Unless otherwise stated, statistics through
1953 Statistical Supplement to the Survey
S-31
February
March
April
May
June
July
August
September
October j ^overn-
December
January j ^
LEATHER AND PRODUCTS—Continued
LEATHER MANUFACTURES
Shoes and slippers:
Production, total
thous. of pairs. _
Shoes, sandals, and play shoes, except athletic,
total
_
. thous. of pairs.
By types of uppers :d"
All leather
do
Part leather and nonleather. _ _.
do.- _
By kinds:
Men's
do
Youths' and boys'
do
Women's
do
Misses' and children's
do
Infants' and babies' _ . _ _ ._ ._ - _do.
Blippers for housewear
do
Athletic
do_ ..
Other footwear
do
~R xports
do
Prices, wholesale, f. o. b. factory:
Men's and boys' oxfords, dress, cattle hide
upper Goodyear welt
1947-49 = 100
Women's oxfords (nurses'), side upper, Goodyear welt
1947-49 = 100
Women's and misses' pumps, suede split, .do
44, 872
48, 723
44, 968
41, 858
40, 824
40, 297
42, 804
39, 902
40, 121
33, 522
38, 200
40, 093
41,359
40, 967
44, 079
40, 193
36, 979
35, 790
34, 972
36, 539
33, 376
33, 183
28, Oil
34, 389
37, 460
38, 391
35, 336
5, 631
37, 520
6, 559
33, 898
6, 295
31, 986
4,993
31, 745
4,045
31, 630
3,342
33, 255
3,284
30, 404
2,972
29, 842
3, 341
24, 987
3, 024
30, 296
3,914
i 33, 333
i 6, 760
i 33, 873
i 7. 486
8 745
1 515
21, 005
6, 298
3,404
3, 309
238
298
388
9 125
1 622
22, 945
6,527
3. 860
4, 059
265
320
468
8 979
1 474
20, 765
5. 436
3, 539
4, 271
279
225
353
8 532
1 574
18, 490
5, 139
3,247
4,375
280
224
348
8 136
1 595
18, 161
5,077
2,821
4, 533
258
243
253
7 560
1 637
18 687
4 603
2, 485
4 790
269
266
313
7 963
1 696
19,077
5, 107
2, 696
5, 697
296
272
421
7 670
1 457
16, 602
4 883
2,764
5,981
283
262
446
8 006
1 390
15, 690
5, 130
2, 967
6,407
273
258
419
6 801
1 124
12,921
4 363
2 802
5 039
262
210
330
8 087
1 362
16? 490
5 3*6
3, 064
3 305
290
216
251
7 851
1 470
f r19, 472
5. 465
3, 202
2, 1 23
239
271
239
7 r}o5
1 455
20, 717
f>, 432
3 162
2 419
247
302
110.3
110.3
110 3
110.3
110 3
110 3
110 3
110 3
110 3
110 3
110 3
110 3
110 3
117.1
113.4
117.1
113.4
117.1
110.7
117. 5
110. 7
118.1
110.7
118.1
110.7
118.1
110.7
118.1
110.7
118 1
110.7
117 5
112.3
117.5
112.3
117 5
112.3
117 5
112.3
LUMBER AND MANUFACTURES
LUMBER— ALL TYPES
Exports total sawmill products
M bd ft
Imports, total sawmill products
do
National Lumber Manufacturers Association:©
Production, total
mil. bd. ft
Hardwoods
._ __
.. do
Softwoods
do
Shipments, total
do
Hardwoods
. - do
Softwoods
do
Stocks, gross (mill and concentration yards), end
of month, total
mil. bd. ft
Hardwoods
do
Softwoods
do
SOFTWOODS
Douglas fir:
Orders, new
do
Orders, unfilled, end of month
_ do
Production
do
Shipments __ __ - ._ .
do ..__
Stocks, gross, mill, end of month . .
do
Exports, total sawmill products!
M bd. ft.
Sawed timber-%
.
.
do ..
Boards, planks, scantlings, etc+_ ..
do
Prices, wholesale:
Dimension, No. 1 common, 2" x 4", R. L.
dol. per M bd. ft
Flooring, B and better, F. G., I" x 4", R. L.
dol. per M bd. ft._
Southern pine:®
Orders, new
mil. bd. ft..
Orders, unfilled, end of month..
do
Production
._
do
Shipments
do
Stocks, gross (mill and concentration yards), end
of month
mil bd ft
Exports, total sawmill products ._
M bd. ft
Sawed timber
do
Boards, planks, scantlings, etc
do
Prices, wholesale, composite:
Boards, No. 2 and better. 1" x 6" x R. L.
dol. per M bd. ft
Flooring, B and better, F. G., 1" x 4" x S/L
dol. per M b d . f t . .
Western pine:
Orders, new
mil. bd. i't__
Orders, unfilled, end of month .
do
Production
_
do
Shipments
do
Stocks, gross, mill, end of month .
do
Price, wholesale, Ponderosa, boards, No. 3 common, 1" x 8"
dol. per M bd. ft..
62 158
195, 457
47 247
* 239, 270
58 631
219, 381
53 192
242, 183
53 765
270, 350
53 037
253, 021
54 245
246, 389
r 52 777
253, 650
50 919
243, 520
r 48 733
220, 063
54 109
197. 952
43 657
135, 528
2,945
680
2, 265
2, 955
741
2,214
3,288
641
2,647
3, 374
786
2,588
3, 521
660
2,861
3, 589
806
2, 783
3,204
545
2,659
3,311
704
2,607
3 428
622
2. 806
3, 408
688
2 720
3 337
674
2 663
3,207
647
2 560
3 437
765
2,672
3,218
661
2 557
3 470
790
2 680
3, 207
627
2 580
3 536
792
2 744
3,246
650
2 596
3 075
718
2 357
2, 869
624
2 245
2 873
638
2 935
2,701
550
2 151
2 749
643
2 106
2, 604
526
2 079
2 901
680
2 221
2,808
612
2 I9f>
8,211
3,092
5,119
8,125
2,947
5,178
8,090
2,801
5, 289
7, 951
2,642
5,309
7,739
2,576
5,163
7, 851
2, 604
5,247
8 068
2,708
5, 360
8, 314
2,871
5,443
8 587
3,012
5 575
8 793
3 107
5 f)8f)
8 967
3 194
5 773
9 132
3 311
5 821
9 221
3, 379
5 842
862
921
848
820
1,007
17, 815
6, 663
11,152
971
925
966
952
1,021
22, 393
6,800
15, 593
1, 032
925
942
978
1,018
30, 276
14, 691
15, 585
814
894
885
863
1,008
29, 067
16, 245
12, 822
847
838
883
888
1,002
18,058
7, 138
10, 920
811
878
751
759
982
21,390
12 528
8,862
693
786
789
776
995
17, 968
7,499
10, 469
779
746
817
806
1 006
24, 986
12, 993
11, 993
826
715
830
848
974
24, 422
11 842
12, 580
753
717
758
742
991
21 451
r 10 505
11 615
798
750
753
757
987
28. 161
10 619
17' 542
813
777
763
779
1 002
21,440
8 490
12 950
863
855
791
778
1 Oil
84. 105
83. 405
82. 845
79. 009
78. 064
77. 252
76. 972
75. 187
74. 347
73. 122
73. 409
125. 105
126. 232
127. 049
126. 396
126. 396
126. 085
126. 085
125. 930
125. 113
123. 978
125. 612
692
350
700
662
752
356
767
746
803
383
830
776
739
376
754
746
709
344
767
741
714
306
764
759
673
287
707
692
693
269
707
711
660
237
767
692
623
230
673
531
202
651
559
1,634
7,379
3,016
4,363
1, 655
5,821
1,621
4,200
1,709
5, 123
1,139
3,984
1,717
5,262
1,335
3,927
1 743
5,590
1 126
4, 464
1 755
7,981
2 619
5,362
1 770
8,549
810
7,739
1 766
3' 952
1 105
2,847
1 841
4 662
1 005
3,657
1 884
4 901
1 098
3' 803
1 976
5 700
640
5 060
81. 180
80. 675
80. 487
79. 439
78. 748
78. 227
77.614
77. 703
76. 545
76. 549
75. 665
159.706
159. 360
158. 748
156.604
156. 604
157.829
157.523
157. 523
157. 217
156. 298
155. 685
531
657
429
444
1,660
586
643
554
550
1,664
653
665
676
631
1,709
646
650
629
611
1,727
718
679
746
688
1 557
714
400
761
685
1 633
664
355
782
711
1 704
678
342
767
690
1 781
722
380
759
684
1 856
491
547
QAO
83.64
84.07
85,00
85.04
84.92
83.26
81.10
76.11
70.84
70.04
302, 975
301, 638
99, 103
339, 259
338, 115
100, 073
351, 913
344, 257
107, 562
334, 309
335, 972
106, 057
345, 269
341,083
110, 662
281, 542
278, 267
113, 512
(\0(\
r
r 73. 395
» 73. 916
124. 950
P 125. 837
595
2Q]
684
596
680
251
687
030
064
986
268
718
2 191
74. 359
P 72. 098
2
3
1
2
r
r 155.379 v 155. 379
472
366
512
3 S3
1 8'^2
1 "70
71.71
70. 90
oqr
70. 65
r
SOFTWOOD PLYWOOD:
Production
thous. of sq. ft., %" equivalent..
Shipments.
.. do
Stocks, end of month ....
.
do
2 254, 756
253 635
113,871
2
2
HARDWOOD FLOORING
Maple, beech, and birch:
O OAA
4 gso
4 275
Orders, new
M bd ft
4 150
4 525
5 075
5 250
4 400
Orders, unfilled, end of month
do
9,650
10 450
10 350
Q', 900
"~
ft'iO
10 050
9 800
9 500
8 450
8 100
Production
do
•V n r• •!
4 150
4 yen
3,900
3 500
3 875
4 200
3 100
4 100
3 950
Shipments
do
3 550
4 125
4 050
4 250
5 150
4 350
3 850
4 300
Stocks, mill, end of month
do
10, 550
10, 600
10, 100
10, 525
8, 025
8, 950
7, 650
7,650
8, 500
9, 750
8, 675
9,300
9, 850
r
Revised.
»> Preliminary.
1 Data are based on total production of shoes and slippers. Comparable figures for 1953 are as follows (thous. pairs)- All leather—January 37 647- February, 3b,HS;>; December, 31,987; part leather and nonleather—January, 7,921; February, 7,987; December, 6,213.
2 Series discontinued with August data
' '
<f j/lp ngures include a comparatively small number of "other footwear" which is not shown separately from shoes, sandals, etc., in the distribution by types of uppers- there are further
small differences between the sum of the figures and the totals for shoes, sandals, and play shoes, because the latter, and also the distribution by kinds, include small revisions not available by
©Revised monthly data for January 1950-July 1952 are available upon request, {Revisions for 1952 for exports of sawmill products will be shown later; those for 1952 for softwood plywood appear in the August 1953 SURVEY.
SUEVEY OF CURRENT BUSINESS
S-32
April 1954
1954
1953
Unless otherwise stated, statistics through
1952 and descriptive notes are shown in the
1953 Statistical Supplement to the Survey
February
March
April
May
Juno
July
August
September
October
November
December
January
73, 874
52, 885
81,474
79 581
50, 971
76 085
50, 082
86 213
84 572
52, 612
68 178
46, 584
76, 703
73 924
55, 391
70, 910
47, 688
81 218
71 221
64, 149
80 206
54, 743
77 282
73 151
68, 289
311,926
February
LUMBER AND MANUFACTURES—Continued
HARDWOOD FLOORING—Continued
Oak:
Orders, new
Orders , unfilled, end of month
Production
Shipments
Stocks mill end of month
-
87, 638
76, 823
72, 283
77, 265
69, 323
M bd. ft
do
do_ _
do
do
98, 269
86, 161
79, 615
85, 226
62, 064
84, 222
86, 584
84, 371
88 359
55, 268
65, 466
77, 419
77, 825
80, 635
52, 458
62, 004
62, 965
79, 466
79 821
52, 083
73, 043
60, 034
81, 390
83 100
50, 373
74, 238
54, 735
78, 243
79, 537
49, 079
89 079
68, 085
75 518
75 737
68 070
METALS AND MANUFACTURES
IRON AND STEEL
Foreign trade:
Iron and steel products (excl. advanced mfrs.):
Exports total 9
short tonsScrap
do
Imports total 9
do
Scrap
do
r
283, 903
24, 012
136, 871
10, 846
313, 602
16, 033
181, 185
10, 185
r 293. 137
7. 167
7, 091
3, 825
3. 266
6, 974
17,417
266, 254
11, 255
' 306. 737
17, 699
261, 581
3,138
' 285, 050
251, 365
r
15,032
318, 519
22, 083
235, 664
' 37, 475
272, 106
18, 669
243, 571
25, 477
241, 726
14, 438
270, 433
30, 041
210 830
7,104
277, 137
36, 065
190 054
326, 635
51, 953
144 488
9,897
2,294
6,959
6,451
3.801
3.157
3.688
6, 368
3. 594
6.644
3.675
6,174
3, 607
2. 969
6.314
2.567
6,043
7,033
6,057
3,693
2,364
6,304
6,780
5.700
3.472
2,228
5.672
12, 290
13, 512
6,392
6,998
4,800
r
19,416
271, 910
r
15,988
59, 408
86 632
1,325
Iron and Steel Scrap
Production and receipts, total*_thous. of short toris..
Home scrap produced*
do
Purchased scrap received (net)* _
do _ .
Consumption total
do _ _
Stocks consumers', end of month
_- _do.~ -
6.582
3. 516
3.066
6.499
6,722
3.859
3.309
7.321
6, 569
6,694
7,050
6,603
2, 763
6, 665
6, 395
2.775
6,204
6,560
9,971
10, 486
9,516
14, 287
15, 002
8,851
15, 368
15, 663
15, 719
16, 534
8,556
7,739
6,893
6,816
r
5, 588
' 3, 472
2, 116
r
5, 253
7.152
4,978
3,183
3,068
3, 245
1,734
5,127
7,008
Ore
Iron ore:
All districts:
Mine production
thous. of long tons
Shipments
do
Stocks at mines end of month
do
Lake Superior district:
Shipments from upper lake ports
do
Consumption by furnaces.-.
do
Stocks end of month total
do
At furnaces
do
On Lake Erie docks
do
Imports
do
Manganese ore, imports (manganese content)
thous of long tons
3,214
1,909
8,149
4,113
2,181
10, 031
0
7, 396
29, 949
25, 741
313
8, 257
22, 065
19, 026
4,207
576
3,039
576
18,816
2,757
780
95
96
1,332
1,136
8,404
7,764
13, 597
8,358
8,056
8,239
21, 572
26, 247
23, 198
32, 070
28, 526
38, 829
34, 443
3,049
966
3,544
4,386
1,125
95
103
1,376
1,264
1,306
1,277
607
675
683
175, 088
86, 515
51, 963
177, 776
94, 481
57, 025
5,882
5,832
13, 745
14, 497
15, 473
16, 284
6,943
15, 143
15, 457
6,614
13, 214
1,148
15, 237
8,150
45, 579
39, 988
5,591
1,109
51 , 767
44, 612
7, 155
1, 137
'103
127
89
1,272
1,186
1,246
1,196
1,233
1, 056
1,223
1, 069
642
648
573
589
174, 514
95, 923
57, 757
160, 387
82, 050
48, Oil
151, 016
86, 514
50, 819
137, 251
77, 111
45, 413
6,677
6,577
6,231
6,587
6,546
6,373
6,516
6,236
6, 251
1,884
1,895
1,876
1,887
54. 73
54.73
54.50
55.00
54.73
54.50
55.00
54.73
54.50
55.00
5,396
11,538
2,099
5,877
1,749
7,041
0
0
0
7,022
6,996
5,787
48, 815
41, 145
7, 671
41, 974
34, 797
7, 178
36, 386
29, 661
8,280
5, 300
7. 522
54, 981
46, 896
8, 085
1,085
965
948
836
80
134
71
112
110
1,170
1,106
1,076
1,142
977
955
1,004
1,032
612
650
564
553
872
932
488
120, 801
73, 855
45,415
114, 523
74, 333
45, 466
104, 046
73, 473
45, 515
03, 156
63, 435
37, 500
95, 612
72, 126
39, 657
85, 565
70, 288
38, 266
6,249
6,472
6,353
6,202
6,024
6,498
6,421
6, 063
5, 963
5, 779
5, 703
5.580
5.525
1,977
2,298
2,368
2, 511
2,527
2, 6GO
2. 800
2,762
54.80
54.50
55.00
56.22
56.00
56.50
56.23
56.00
56.50
56.10
56.03
56. 03
66. 00
56. 50
56. 03
56. 50
56. 03
56. 00
56. 50
7,699
8,131
55, 699
47, 419
6,725
Pig Iron and Iron Manufactures
Castings, gray iron:
Orders unfilled for sale
thous of short tons
Shipments total
- -- -- do
For sale
do
Castings, malleable iron:
Orders unfilled for sale
short tons
Shipments total
- -_do
For sale
do- _ _
Pig iron:
Production
thous. of short tons. _
Consumption
do
Stocks (consumers' and suppliers') , end of month
thous of short tons
Prices, wholesale:
Composite
dol. per long ton
Basic (furnace)
- -- --do
Foundry , No. 2, f. o. b. Neville Island-.do
54.50
55.00
56.00
56.50
56. 00
56.50
T
T
56.00
4,811
56. 03
» 56. 00
* 56. 50
Steel, Crude and Semimanufactures
Steel castings:
141, 340
139, 577
165, 649
164, 665
179, 615
182, 181
Shipments, total
- —
short tons_. 175, 675
105, 687
126, 380
125, 984
140, 051
107, 941
141, 873
137, 592
For sale total
- do. _
22, 925
25, 026
29, 552
30, 381
34, 035
34, 364
33, 156
Railway specialties
do
Steel forgings:
1, 199, 151 1, 197, 291 1, 081, 838 1, 239, 057 1, 135, 343 1,080,582 ' 974, 153
Orders unfilled for sale
do
155,288 1' 150, 512
191, 189
185, 323
196, 441
200, 152
183, 709
Shipments for sale total
- -- do
112,848
132, 580
134, 686
140, 510
147, 701
110,926
135, 682
Drop and upset
do
42, 440
52,
743
' 39, 586
56,
503
55,
931
52,
451
' 48, 027
Press and open hammer
do
Steel ingots and steel for castings:
9,276
9,404
9,546
9,406
9,997
10, 168
8,933
Production
thous. of short tons.93
94
97
100
99
102
99
Percent of capacity t
Prices, wholesale:
.0524
.0524
.0501
.0513
.0498
.0498
.0498
Composite, finished steel
dol. per lb_.
Steel billets, rerolling, f. o. b. mill
' 69. 00 * 72. 00
* 72. 00
* 62. 00
59.00
59.00
59.00
dol. per short ton._
* . 0438
'.0413
.0420
' . 0413
' . 0438
.0420
.0420
Structural steel, f. o. b. mill.
dol. per lb..
Steel scrap, heavy melting (Pittsburgh)
39.50
44.50
40.50
44.00
44.00
45.50
44.00
dol. per long ton. _
135,303
140, 702
106, 788
25, 354
114,088
123, 281
102, 880
24, 108
84, 945
17, 784
91,017
18,685
122, 758
93, 577
20, 058
882, 034
153, 173
110, 305
42, 868
797, 523
155, 772
112 803
42, 969
740, 127
143, 239
103, 113
r
40, 126
650, 533
142, 603
98, 915
43, 688
637, 896
138, 926
101, 523
37, 403
8,883
9,463
8,690
7,946
95
90
80
7,951
75
7,083
92
.0524
.0524
. 0524
.0524
.0524
.0524
72. 00
* 72. 00
. 0438
«. 0438
p '72.00
f -'.0437
30. 50
p 28. 50
1
« 72. 00
' 72. 00
« . 0438
«. 0438
*. 0438
40.50
36.50
36.50
72. 00
1
1
33.50
r
74
Steel, Manufactured Products
Barrels and drums, steel, heavy types:
4,393
4,804
4, 459
4,878
3,748
4,013
4,052
3,901
5,052
3, 538
3,141
3, 404
3,231
Orders, unfilled, end of month
thousands ..
1,975
2,026
2,054
2,086
2,068
1,950
2,101
1,981
1,670
1,600
1,681
1,848
2,003
Shipments
do
84
94
117
81
90
68
71
68
123
90
63
88
78
Stocks, end of month.
-..->
do
r
Revised.
p Preliminary.
' Data beginning August 1953 represent
estimated industry totals based on forge shops whose shipments in 1947 accounted for over 90 percent of total shipJ
ments; earlier data are estimated totals based on a different sample.
Data beginning May 1953 represent quotations for a substituted series.
9 Revisions for 1952 (short tons): Exports, total—July, 224,712; October, 448,214; December, 440,056; imports, total—January, 235,253; March, 148,568; June, 98,667; August, 111,950; October-December, respectively, 221,401; 176,110; 205,439.
*New series; compiled by the U. S. Department of Interior, Bureau of Mines. Data prior to 1953 are not available for publication.
JFor 1954, percent of capacity is calculated on annual capacity as of January 1,1954, of 124,330,410 tons of steel; 1953 data are based on capacity as of January 1,1953, of 117,547,470 tons.
SURREY OF CUEEENT BUSINESS
April 1954
Unless otherwise stated, statistics through
1952 and descriptive notes are shown in the
1953 Statistical Supplement to the Survey
S-33
1954
1953
February
March
April
May
June
July
August
Se m
bS "
October
November
December
January
February
METALS AND MANUFACTURES—Continued
IRON AND STEEL—Continued
Steel, Manufactured Products—Continued
Cans, metal, shipments (in terms of steel consumed) ,
total
.
short tons. . * 252, 357 ' 279, 294 ' 304, 638 ' 305, 205 '357,767
' 151, 803 * 162, 539 174, 879
220, 481
177, 976
Food
do
'i 100, 554 ' 116, 755 'r 129, 759 'f 127, 229 'r 137, 286
Nonfood
__ _ _ . do
* 215, 860 238, 836
255, 795 259, 822
311, 575
Shipments for sale
do
1,138
1,296
1,338
1,307
1,348
C|0mmp,rnial olnsnres, production
millions
24,696
27, 627
27, 772
29, 317
31, 605
^•powTtff production
thousand pross
Steel products, net shipments:
6,533
7,162
7,437
7,209
6,950
Total
thous. of short tons
779
894
843
838
873
Bars hot rolled— All grades
do
156
173
155
159
157
Reinforcing
do
335
415
352
329
357
Semimanufactures
do
804
902
880
828
847
Pipe and tubes
do
659
650
707
614
698
Plates
do
148
168
162
150
161
Rails
do
1,695
1,982
1,924
2,007
2,003
Sheets
_.
do
167
205
194
187
190
Strip — Cold rolled
do
183
210
214
206
210
TTot rolled
do
395
414
416
417
397
Structural shapes heavy
do
442
373
448
459
441
Tin plate and temeplato
do
435
471
447
449
426
Wire and wire products
_
do
446, 772
299, 306
147, 466
407, 362
1,281
30, 752
506, 215
3*60, 564
145, 651
457, 387
1,260
29, 155
484, 561
346, 645
137, 916
432, 830
1,226
27, 244
368, 917
239 111
129, 806
329 545
1,282
24 746
314, 408
190 280
124, 128
280 289
1,097
22 378
192, 403
123,416
68.987
155.000
1,137
21, 972
264, 708
161, 320
103, 388
224, 580
1,089
24, 581
6,583
794
166
295
801
587
156
1,957
151
161
414
405
328
6,499
750
148
252
778
586
150
1,921
188
195
391
390
378
6,401
723
163
232
833
586
162
1,864
191
192
393
340
349
6,727
758
161
232
864
644
164
2,003
194
180
442
361
329
5,904
633
140
190
728
609
182
1,768
169
151
443
303
270
5,685
586
125
190
714
633
185
1,674
140
116
481
266
264
5,728
569
111
169
664
572
178
1,738
123
127
473
411
292
109, 285
390, 184
110, 545
442, 171
109, 333
402, 340
108, 219
363, 945
105, 636
400, 077
110, 291
434, 958
116,247
438, 392
110, 483
1, 406
26, 572
NONFERROUS METALS AND PRODUCTS
Aluminum:
92,649
Production primary
. short tons
Imports bauxite
long tons ' 283, 427
Price, wholesale, scrap castings (N. Y.)
.0825
dol. perlb..
Aluminum fabricated products, shipments,
240.7
total
mil of Ib
54.9
Castings
- do
185.7
Wrought products total©
do
109.2
Plate and sheet©
_ -_
do
.402
Brass sheet?, wholesale price, mill
dol. per lb__
Copper:
Production:
Mine production, recoverable copper
72,317
short tons..
Crude (mine or smelter, including custom in83, 653
take)
short tons_.
101, 538
Refined
do
117,
204
Deliveries, refined, domestic
do
60,944
(Stocks, refined, end of month
.do
6,030
Exports refined and manufactured
do
Imports total 9
do
22 '62,345
' 33, 088
Unrefined including scrap 9
do
' 29, 257
Refined 9
do
.2497
Price, wholesale, electrolytic (N. Y.)-dol. perlb..
Lead:
Ore (lead content):
29, 427
Mine production
short tons
30, 388
Receipts by smelters, domestic ore _.
do .
Refined (primary refineries) :
45,423
Production
do
36, 811
Shipments (domestic)
do
58, 949
Stocks end of month
do
Price, wholesale, pig, desilverized (N. Y.)
.1350
dol. perlb..
Imports, total, except mfrs. (lead content) 9
42,
144
short tons
Tin:
3,592
Production, pig§ __
....
long tons
7,012
Consumption, pig, total §
do
4,441
Prlmary§_
_. __
do
19, 433
Stocks, Dig, end of month, total§
do
8,003
Government! _ _
_ __ .
do
11, 430
Industrial!
do
Imports:
4,101
Ore (tin content)
do
5,251
Bars, blocks, pigs, etc
. do
1. 2150
Price, wholesale, Straits (N. Y.)
dol. per lb__
Zinc:
49, 356
Mine production of recoverable zinc.. .short tons..
Slab zinc:
76, 899
Production _
_
do
71, 710
Shipments, total
do
67, 729
Domestic
_
do k
93, 664
Stocks end of month
do
J*rlce, wholesale, prime Western (St. Louis)
.1148
dol. perlb..
27, 475
Imports, total (zinc content^
short tons
984
For smelting, refining, and export 9
do...
For domestic consumption:
7,837
Ore (zinc content) 9 ._
do
18, 654
Blocks, pigs, etc
.
do
r
104. 460
339, 349
102, 071
355, 895
105, 464
345, 619
104, 152
427, 849
.0995
.0924
.0838
.0936
.1000
.0900
.0900
.0825
.0996
.1033
.0892
.0875
273.7
59.4
214.3
127.1
.429
281.0
61.6
219.4
129.2
.429
266.7
57.6
209.1
123.6
.429
261.8
56.8
205.0
121.3
.429
254.1
51.7
202.5
123.5
.429
241.4
50.9
190.5
117.9
.429
237.5
53.7
183.8
111.9
.417
241.1
55.4
185.7
113.6
.417
200.2
51.4
148.8
89.4
.417
201.1
52.0
r
149. 2
91.2
.417
204.8
50.9
153.9
84.3
.417
v. 417
80, 850
73, 635
76, 492
75, 581
75, 442
80, 005
75, 165
77, 019
•• 74, 697
65, 112
84, 948
93, 197
127, 294
117, 929
139, 300
146, 215
52, 762
58, 126
8,669
7,278
' 67, 662 '80,943
'
32, 059 '39.993
r
35, 603
40, 950
.2969
.2968
88, 063
122, 036
104, 481
77, 100
13, 317
66, 200
48, 201
17, 999
.2969
84, 953
108,974
106, 985
78,825
'18,0fi4
'48,348
'32,087
16, 261
.2961
86, 748
92, 435
114, 760
126, 138
104, 886
110, 519
72,907
84, 303
' 18, 249 18, 870
' 57. 676
51, 095
' 48, 261 35, 351
9,415
15, 744
.2962
.2960
85, 724
119, 230
100, 908
93, 274
15, 827
32, 414
26, Oil
6,403
.2965
88, 732
123. 296
112, 244
89, 193
26, 416
32, 261
19, 116
13, 145
.2967
' 84, 216
111,553
77, 091
108, 121
30, 472
34, 790
20, 533
14, 257
.2967
75, 656
103, 496
87, 384
118, 417
80,886
79, 706
101, 825
112,016
133, 462
55, 807
8,645
' 52, 387
' 20, 486
31, 901
.2929
95,890
113, 782
142, 382
48, 382
6, 551
' 70, 191
' 39, 309
' 30, 882
.2990
31, 347
32, 660
31, 052
31, 557
29,045
28, 793
28, 349
30, 753
26,364
27, 339
26, 083
27, 709
26, 474
27, 637
26, 652
27, 934
24, 671
26, 904
27, 107
28, 812
' 24, 695
26, 202
27, 143
29, 342
47, 993
42, 242
62, 371
46, 729
39, 487
69, 608
43, 187
48, 914
63, 879
36,880
44, 140
56, 569
40, 210
35, 652
61, 017
38, 022
40, 836
58, 103
42, 154
41, 598
58,490
44, 741
44, 987
58, 236
52, 562
43, 234
67, 494
48, 687
35, 007
81, 152
48, 518
37, 108
92, 496
42, 046
36, 551
97, 981
.1282
.2967
.1340
.1268
.1275
.1341
.1368
.1400
.1374
.1350
.1350
.1350
.1326
36, 430
' 42, 815
43, 612
' 45, 891
30, 796
41, 234
' 22, 039
34, 107
39, 873
30, 570
43, 043
4,071
7,788
5,162
17, 629
5,206
12,423
3,968
7,680
5,192
16, 029
4,402
11, 627
3,286
7,562
4,985
13, 592
2,135
11, 457
3,245
7,508
4,989
13, 391
1,935
11, 456
3,151
6,580
4,329
16, 932
4,935
11, 997
2,798
6,619
4,257
20, 340
7,536
12, 804
2,962
6,855
4,276
23, 466
10, 436
13, 030
3,011
6,519
4,001
26, 164
13, 086
13, 078
2,964
5,826
3,698
28, 460
15, 717
12, 743
2,986
6,182
3, 822
32, 928
18, 467
14, 461
2,957
6,260
4,060
35, 674
22, 767
12, 907
4, 573
6,686
1. 2140
1,915
7,229
1.0111
2,017
6,739
.9746
4,230
5,495
.9295
2,798
5,821
.8163
1,214
6,992
.8068
1,910
5,372
.8231
2,376
6,388
.8085
3,329
5,067
.8319
3,648
5,802
.8461
2 781
6,176
.8483
.8504
51,680
51, 103
47,790
46, 365
42, 305
40,965
39, 188
38, 771
36,460
37, 745
' 38, 852
37, 232
83, 485
77, 285
72,388
99, 864
80, 459
86, 043
78, 211
94,280
82, 422
84, 250
75, 648
92, 452
81, 617
76, 784
72, 612
97, 285
80, 825
74, 204
69, 498
103, 906
83, 241
69, 250
65, 450
117, 897
81, 211
57, 547
55, 167
141, 561
84 031
67 175
65, 470
158 417
75, 891
68, 685
63, 617
165, 623
79 116
63 896
55, 487
180 843
78 561
60 692
54, 865
198 712
68, 020
66 738
57, 781
199 994
.1103
' 53, 767
3,859
.1100
' 51, 857
473
.1100
75, 808
338
.1100
102, 632
143
.1100
66,834
182
.1098
54,950
49
.1018
53, 446
124
.1000
61, 532
325
.1000
48, 538
2,831
.1000
73,246
4,454
.0976
66, 323
2,455
.0938
' 28, 020
21, 888
26,601
' 24, 783
47, 708
27, 762
64,206
38,283
41, 600
25, 052
38, 882
16, 019
42, 062
11,260
51, 095
10, 112
36, 198
9,509
58. 352
10 440
52, 419
11, 449
1,740
5,310
1,821
6,745
2,477
9,085
2,591
8,404
3,345
7,909
3,336
7, 152
3,840
6 327
2,782
5 986
2,095
5 957
2,041
6 126
HEATING APPARATUS, EXCEPT
ELECTRIC
Radiators and con vectors, cast iron:d"
Shipments
_
thous. of sq. ft
Stocks, end of month
_ _
. do
Oil burners :t
Shipments
number
Stocks, end of month
do
2,621
4,028
2,435
4,625
79 735
95 622
100 955
103 493
62 010 r 44 631
44 966
77, 821
67, 613
71, 687
81, 190
75.' 110
65. 238 ' 76, 858
* Revisions for January 1953 (short tons): Shipments—total, 269,717; nonfood, 101,953; for sale, 227,188.
2 Revisions for January 1953 (short tons): Total,
45, 345
58, 324
56, 336
67, 262
53,904
78, 784
64 173
86,387
74 416
86, 635
r
Revised.
*> Preliminary.
50,011; unrefined, 23,462.
© Data beginning January 1954 are based on a more comprehensive survey. Comparable figures for December 1953 (mil. Ib.): Total wrought products, 150.7; plate and sheet, 90.9.
9 Revisions for 1952 imports (short tons): Copper—total, September, 67,616; December, 70,143; unrefined, July, 38,908; September, 25,404; December, 24,374; refined, July, 27,442; lead, total,
January, 15,396; February, 42,584; May-September, respectively, 73,430; 67,692; 33,202; 40,204; 47,174; zinc—smelting, refining, etc., May, 4,621; July, 673; ore, May, 92,690; July, 62,737.
§Substituted series. Compiled by the 17. S. Department of Interior, Bureau of Mines; monthly data for 1951 and 1952 appear on p. 24 of the March 1954 SURVEY. Government stocks
represent tnose available for industrial use.
cfData beginning June 1953 are compiled by The Institute of Boiler and Radiator Manufacturers and represent substantially complete coverage
of shipments 01 cast iron radiators and convectors.
^Revisions for January-July 1952 are shown in a footnote on p. S-33 of the January 1954 SURVEY.
SURVEY OF CURRENT BUSINESS
S-34
April 1954
1953
1952 and descriptive notes are shown in the
1953 Statistical Supplement to the Survey
uru-
March
Apr!
May
June
July
19 51
Ceptem-
August
October
November
December
222, 942
January
February
METALS AND MANUFACTURES—Continued
i
HEATING APPARATU So*—Continued
Stoves and ranges, domestic cooking, excl. electric:
Shipments, total
_
_
number _ _
Coal and wood
do
Gas (incl. bungalow and combination) _do
Kerosene, gasoline, and net il
do _Stoves, domestic heating, shinm nt;s. total do
Coal and wood
do
Gas
do
Kerosene, gasoline, and fuel oil
do
Warm-air furnaces (forced-air and gravity air-flow) ,
shipments, total
number
Gas
do
Oil
do
Solid fuel
do
Water heaters, gas, shipments*
do
MACHINERY AND APPARATUS
Blowers, fans, and unit heaters, quarterly:
Blowers and fans new orders
thous of dol
Unit heater group new orders
do
Foundry equipment (new), new orders,
nett
1947-49=100
Furnaces, industrial, new orders, net:
Electric processing
thous. of dol
Fuel-fired (except for hot rolling steel)
do
Machine tools (metal- cutting types):
New orders
mo.avg. shipments, 1945-47=100. _
Shipments
do
Pumps, steam, power, centrifugal and rotary, new
orders
thous. of dol
Tractors (except garden), quarterly:*
Shipments total©
do
Wheel type (excl. contractors' off-highway)
thous of dol
0
Tracklayin "
do
205, 872
8,089
187, 702
10, 081
124, 334
11, 735
60, 568
52, 031
55, 368
29, 815
21, 662
3,891
196, 601
238, 851
7,420
5,075
5.435
5,796
9,636
7,543
167, 070
7,146
216, 485
27, 617
116, 059
72, 809
159, 515
6,180
297, 809
47, 056
153, 104
97, 649
187, 515
9,231
396, 268
51, 841
221, 532
122, 895
209, 249
205, 038
10, 361
401, 695
55, 51 7
223, 002
123, 176
176, 297
>• 6. 876
159, 270
10, 151
244, 688
27, 610
157. 005
60, 073
150,392
181, 682
10, 726
154, 965
25, 503
78, 136
51, 326
7,006
220, 939
10, 492
137, 623
20, 782
72, 366
44, 475
58 326
28, 125
41 986
43, 427
64, 115
32, 748
27, 353
4,014
67, 543
37, 260
26, 812
3,471
211, 405
70, 814
37, 755
28, 297
92, 294
49, 314
36, 296
90, 953
46, 939
38, 318
109, 172
54, 014
47, 210
126, 181
59, 736
56, 280
10, 165
171, 779
121, 467
58, 374
53, 203
86, 578
43. 137
37, 895
64, 285
33, 495
27, 984
57, 192
30, 927
23, 862
211,404
4,762
6,684
185, 873
172, 243
171, 491
203, 752
5,696
7,948
170, 356
159, 730
227, 248
8.363
479,
67,
239,
172,
51, 158
14, 823
41, 857
12, 223
103
332
419
352
9,890
5,546
185, 388
148, 855
40, 368
16, 959
5.516
134, 904
9.972
97. 479
11.028
2.806
135, 054
151,
5,
137,
8,
92,
325
103
276
9-16
620
7,207
2,403
161, 152
41 832
16 683
97.5
132.2
111.8
182.1
156.4
158. 9
235.5
127.7
87.1
149.4
160.8
173. 8
99 9
1,672
1,301
1,799
3,996
3,607
1,796
3,017
2,095
2,550
2,241
1,983
1,711
834
3,003
1,531
1,868
1,166
1, 690
909
1, 356
1,832
1,686
282.1
354.5
6, 521
2,609
327.0
375.9
276.8
372.7
246.4
356.0
8,255
7,758
4,629
5,454
273.4
342.2
247.3
267.6
286.9
299.6
5,690
5, 533
4,886
223.7
328.3
348.4
320.2
4, 845
5,097
4,634
198.7
146. 6
1,624
149.8
301.4
285, 078
206, 541
149 094
182, 346
84, 795
175,667
112,025
93, 086
84, 615
76 524
66 201
1
2,004
2,528
88.3
197, 506
313, 005
2,825
2,173
1,890
87.4
159, 446
233, 191
674, 459
62.2
35.2
46.4
62.6
227, 253
216, 227
188, 536
249, 383
349, 342
244, 144
296, 589
319, 066
991, 637 11,216,525 1, 052, 493 1,065,785
53.1
190, 773
200, 034
316, 289
603, 760
149.8
10, 299
4,673
1,870
28. 551
1,645
34, 048
1,163, 831
1
2,852
2,707
524, 479
174.4
1
r
r
4, 645
278, 227
ELECTRICAL EQUIPMENT
Batteries (automotive replacement only), ship1,455
1,202
1,245
1,162
ments
_
thousands
Domestic electrical appliances, sales billed:
80.5
95.7
107.6
106.0
Refrigerators index f
1947-49=100
252, 404
268, 548
329, 294
Vacuum cleaners, standard type
number. _ 246, 007
295, 393
294, 960
353, 972
Washers
__
_
-do. .. 333, 601
1, 192, 439 '1,549,203 1, 158, 936 1, 108, 991
Radio sets, production §
do
Television sets (incl. combination), production §
481, 936
567, 878
number. _ 730, 597 1 810, 112
Insulating materials and related products:
Insulating materials, sales billed, indext
173.9
189.1
190.2
176.5
1947-49=100
Fiber products:
Laminated fiber products, shipments©
,11,322
10, 268
11, 072
thous. of dol. . 10, 609
Vulcanized fiber:
4,701
4, 452
4,843
4,360
Consumption of fiber paper
thou. . of lb__
Shipments of vulcanized products
1,999
1,882
1,895
1,791
thous. of dol. _
23, 646
25, 519
26,311
23, 379
Steel conduit (rigid), shipments* ___ thous. of feet
Motors and generators, quarterly:
150. 2
New orders indexf
1947 49 ~ 100
Polyphase induction motors, 1-200 hp:f
Billings
do
Direct current motors and generators, 1-200 hp-. f
New orders
thous of dol
Billings
do
179, 651
197, 483
228, 602
8,125
210, 048
10, 429
147, 598
17, 218
78, 544
51, 836
a, 101, 115
173. 5
319. 4
994
v 160. 2
^321 3
4, 057
r
1, 788
95 0
221, 233
256, 596
1, 421
871.981
199, 035
306, 639
769 232
426, W4
770,085
680, 433
560, 197
i 449, 787
420, 571
152.8
152.6
154.4
129.6
133.1
124.0
8,872
8,505
9,222
9,591
8,879
8,894
°,345
8,160
4,033
4,197
4,287
4,287
3,591
3, 571
3, 346
3,370
1,720
16, 871
1, 653
1,716
18, 043
1,367
17, 488
1,405
17, 756
1,421
16, 133
1,451
17,057
186.3
171.3
144 6
41 127
39, 639
46 319
45, 863
42 088
41, 186
36 341
37, 804
7, 512
8, 858
8,821
10, 064
7,- 91 7
9,521
11,490
7 883
PETROLEUM, COAL, AND PRODUCTS
COAL
Anthracite:
1,987
2,783
2,475
2,284
2,365
2,886
2,650
2,904
Production
thous. of short tons
2,315
2,378
2, 632
2,370
2,354
Stocks in producers' storage yards, end of month
1,603
1, 635
1,611
1,654
1,726
1, 623
1,759
1,786
1,870
1,916
1,929
1,726
thous. of short tons. _
1,656
91
271
140
323
254
324
149
220
365
159
Exports
do
247
246
Prices:
26.95
25. 53
25. 53
26.97
26.97
26.16
26.16
26.19
26.23
26.34
26.34
Retail, composite 9
dol. per short ton._
26. 36
26.36
14. 619
14. 619
16. 013
14. 944
15. 508
16.013
15. 319
15. 550
15. 756
15. 533
Wholesale, chestnut, f. o. b. car at mine do. _.
15. 533
15. 533 P 15. 533
Bituminous :cf
34, 398
36, 566
37, 135
37, 350
38, 632
Production
thous. of short tons
40, 265
34, 954
40, 994
40, 583
35, 465
37, 082
' 34, 055 29, 430
Industrial consumption and retail deliveries,total
31, 960
34, 375
37. 017
34, 298
37. 604
31, 561
32, 476
33. 492
thous. of short tons_.
39, 057
36, 650
35, 769
39 772
32, (p
r
31.848
29. 236
30. 124
30, 058
28. 720
29, 274
29. 473
28, 973
31,914
Indust rial consumption, total.
do
30, 942
30, 398
31,436
26, 500
848
799
722
853
Beehive coke ovens .
do
783
641
585
585
491
644
476
258
106
8,956
8,583
8,993
8,725
9.035
Oven-coke plants
do
8,068
8, 553
8,767
8,352
8,946
8,298
8, 050
6,901
687
709
664
692
682
668
686
Cement mills _
do
668
686
737
'701
735
624
8,293
9.287
9,123
8,618
8,758
Electric-power utilities
._ _do
8,877
9,409
9,390
9,917
9, 865
10, 571
10, 620
8,798
2,560
2,413
2,334
2,168
2.191
Railways (class I)
do
2,448
2,092
2,134
2,239
2 096
1,939
2,227
1,610
625
559
474
454
449
Steel and rolling mills
do
617
421
469
424
481
555
566
476
8,422
7,597
9,027
7,164
6,985
Other industrial
do
8,705
8,262
7,203
8,427
9,185
9,268
7,160
8,045
2,724
3,202
5,756
4,317
2.841
6,893
5,325
7. 143
4,019
5.708
5.371
Retail deliveries
do....
8. 336
6.402
••Revised.
* Preliminary.
i Represents 5 weeks' production.
cfRevisions for January-July 1952 for heating apparatus and January-September 1952 for bituminous coal will be shown later.
*New series. Water-heater shipments are compiled by the Gas Appliance Manufacturers' Association beginning June 1953 and by the U. S. Department of Commerce, Bureau of the Census,
for earlier months; data represent total shipments of gas water heaters based on reports from manufacturers representing 98 percent of the total industry; monthly data prior to August 1952 will
be shown later. Tractor shipments are compiled by the U. S. Department of Commerce, Bureau of the Census, from quarterly reports received from active manufacturers of complete tractors;
data represent total shipments reported by all producers of the specified types of tractors; (annual totals beginning 1922 are available upon request; data for the first three quarters of 1952 are
shown in ttoe January 1954 SURVEY). For description of new series for steel conduit, see note at bottom of p. S-35.
^Revised to reflect use of new base period.
©Includes contractors' off-highway wheel-type tractors.
fRevised series, reflecting use of new base period; data prior to August 1952 will be shown later.
§ Radio production comprises home, portable battery, automobile, and clock models; television sets include combination models. Data for March, June, September and December
1953 cover 5 weeks; other months, 4 weeks.
0Data for January-October 1953 cover 17 companies, November-December, 18, and beginning January 1954, 19 companies.
IData beginning 3d quarter 1953 for polyphase induction motors cover 33 companies, for direct current, 27 companies; earlier data shown cover 34 and 28 companies, respectively.
0 Revised to represent weighted average price of anthracite stove based on quotations in 6 cities as follows: Baltimore. Boston, Laconia (N. H.), Madison (Wis.), Middletown (Conn.),
and New York.
SURVEY OF CURRENT BUSINESS
April 1954
S-35
1954
1953
Unless otherwise stated, statistics through
1952 and descriptive notes are shown in the
1953 Statistical Supplement to the Survey
February
March
April
May
June
July
August
September
October
November
December
January
February
PETROLEUM, COAL, AND PRODUCTS—Continued
COA L— Continued
Bituminous— Continued
Consumption on vessels (bunker fuel)
thous. of short tons-_
Stocks, industrial and retail dealers', end of
month, total
thous. of short tons-Industrial, total
Oven-coke plants _
Cement mills
Electric-power utilities _
Railways (class I)
Steel and rolling mills
Other industrial
_
_
__
Retail dealers
do
do
do_ _.
do _ _ do
do
do
9
9
73
79
73
72
73
66
66
54
19
5
4
71, 385
70, 235
70, 531
72, 912
76, 026
74, 752
77, 997
81, 005
82, 719
82, 381
80, 614
75, 741
75, 194
70, 110
13, 381
1, 245
33, 906
2,892
943
17, 743
69, 187
13, 276
1,106
33, 926
2,764
69, 473
13, 408
1,057
34, 649
2,571
71, 660
13, 897
1,106
35, 880
2,571
74, 475
14, 545
1,226
36, 955
2,774
73, 153
13, 221
1,197
37, 767
2,576
76, 387
14, 698
1,341
38, 758
2,533
79 372
15, 910
1 454
39, 713
2 639
81 009
16 609
1 505
40 468
2 605
1 028
18 794
80 642
16 720
1 541
40 487
2 562
1 008
18 324
79 075
16 486
1 461
39 770
2 570
74 531
14, 885
1 290
38, 090
2 432
74 029
14 730
1 173
37 969
2 350
977
931
887
17 811
16, 903
16 920
1,275
1,048
1,058
1 252
1 551
1 599
1 633
1 710
1 739
1 539
1 210
1 165
1,584
1,575
3, 150
3,437
3 516
3 441
r 3 432
r 3 377
2 712
1 720
1 414
do
Exports
do
Prices:
Retail, composite!
dol. per short ton_Wholesale:
Mine run, f. o. b. car at mine__-_
do
Prepared sizes, f. o. b. car at mine
do
COKE
Production:
Beehive
__ .thous. of short tons. Oven (byproduct)
_ do
Petroleum coke
do
Stocks, end of month:
Byproduct plants, total
_
do
At furnace plants
do
At merchant plants
- _do
Petroleum coke
do
Exports
-_ -do
Price, beehive, Connellsville (furnace)
dol. per short ton._
940
922
935
961
918
919
17, 175
16, 866
17, 271
18, 014
17, 474
18, 138
1 610
r
3 709
956
18 700
15.03
15.04
14. 95
14.75
14.71
14.81
14.84
14.99
15.07
15.10
15.12
5.923
7.058
5.857
6.853
5.831
6.446
5.810
6.428
5.796
6.491
5.796
6.572
5.698
6.665
5.698
6 721
5.724
6 811
5.716
6 811
5.716
6 807
459
5,681
324
544
512
543
6,299
6,032
6,282
498
408
409
371
6,311
298
166
6,033
65
5 795
5 647
4 821
370
350
374
384
6 181
5 894
341
6,340
373
314
6,127
334
377
364
380
386
387
1,995
1,641
354
130
43
1,973
1,581
2,009
1,541
2,135
1 606
2,129
1 572
2,221
1 529
2,376
1 598
2 475
1 624
467
154
52
529
190
53
557
155
53
692
141
39
778
154
48
2 513
1 630
2 658
1 698
392
140
39
T 157
883
121
40
2 727
j 682
1 045
39
959
137
34
14.75
14. 75
14.75
14.75
14.75
14.75
14.75
14.75
14.75
2 290
196 717
93
850
r
r
r
15.14
15.13
5. 681
6 837
" 5. 600
*>6 813
2 787
1 715
1 049
172
29
209
36
14.75
14.75
14.75
r 2 487
194' 108
2 134
188 315
2 253
193 378
2 599
193 453
91
93
92
91
2 757
1 66i
1 096
14.75
PETROLEUM AND PRODUCTS
Crude petroleum:
Wells completed!
number
Production!
thous. of bbl._
Refinery operations
. .percent of capacity ._
Consumption (runs to stills)
thous. of bbl__
Stocks, end of month:
Gasoline-bearing in U. S., total _._
do
At refineries
do
At tank farms and in pipelines
__do _._
On leases
do
1,828
183, 736
94
195, 133
1,807
202, 458
2,059
193, 389
2 378
198, 086
1 973
197, 837
2 468
204, 701
2, 128
204. 059
94
91
93
94
95
217, 073
203, 425
94
217, 074
212, 433
220, 197
222, 048
210, 686
213,017
209, 599
215, 892
215, 366
273, 589
66, 451
189, 163
17, 975
275, 665
69, 077
188, 897
17, 691
280, 487
71, 181
191, 494
17, 812
280, 308
71,011
191, 556
17, 741
283, 715
73, 527
191, 879
18, 309
284, 976
74 269
192, 450
18 257
285, 352
73, 982
192, 366
19, 004
289, 614
73 991
197, 175
18 448
287
72
195
18
283
71
192
18
276
72
185
18
270
70
180
19
Exports
-_ _
do
Imports
do
Price (Oklahoma-Kansas) at wells. . -dol. per bbl__
2,011
16, 292
2.570
2,171
20, 221
2.570
2,833
18, 516
2.570
1,611
20 709
2.570
1,824
21, 559
2.820
1,232
19 287
2.820
1,321
19, 125
2.820
1 109
21 876
2.820
1 178
19 190
2.820
1 052
17 919
2.820
1 378
19 841
2.820
1 588
17 932
2.820
42, 153
35, 704
46, 157
38, 931
42, 730
36, 572
43, 393
37 120
43, 860
37, 151
44, 682
37 942
44, 539
37 894
43 433
36 098
45 331
36 716
43 901
38 684
44 663
38' 652
i 45 474
39 398
52, 552
48, 531
50, 773
52, 769
38, 533
47, 192
28, 574
44 729
30, 389
43 045
25, 140
41 330
26, 435
41 362
34 597
42 697
34 379
44 349
44 061
47 280
64 013
54 092
i 74 809
55 109
6,809
1,831
5,924
8,083
1,884
6,774
7,152
1,757
7,075
6,087
1,735
7,090
6,116
1.938
6,747
6 347
2,008
6 720
6 552
1,811
6,578
6 155
1 671
6 746
6 778
l'745
6 259
6 908
1 428
6 095
7 618
1 237
6 612
8 285
1 031
6 031
67, 167
44, 178
59, 802
41, 600
61, 349
39, 572
73, 706
41, 795
84, 504
43, 801
102, 394
47 966
119 542
50 007
126 709
50 516
135 409
50 820
133 381
51 267
111 944
49 370
i 81 044
47 474
r
r
T
2 721
1 646
2 143
1 400
1 460
1 728
r 2 031
I 659
2 386
r 2 088
2 156
I c 12
2 362
1 514
1 616
1 365
Refined petroleum products:
Fuel oil:
Production:
Distillate fuel oirj
thous. of bbl._
Residual fuel oil|
do
Domestic demand:
Distillate fuel oil J
do
Residual fuel oil!
do
Consumption by type of consumer:
Electric-power plants
_ do
Railways (class I) .
do .-.
Vessels (bunker oil)
._.
do. _
Stocks, end of month:
Distillate fuel oil
do
Residual fuel oil
_ _ _
do
Exports:
Distillate fuel oil
do
Residual fuel oil
do
Prices, wholesale:
Distillate (New York Harbor, No. 2 fuel)
dol. per gal_.
Residual (Okla., No. 6 fuel)
dol. per bbl__
Kerosene:
Production
thous. of bbl
Domestic demand! _do
Stocks, end of month
do
Exports _ _ _ - _
-_
do_
Price, wholesale, bulk lots (New York Harbor)
dol. per gal _.
Lubricants:
Production
thous. of bbl
Domestic demand!
_.
do
Stocks, refinery, end of month
__do
Exports
do
Price, wholesale, bright stock (midcontinent,
f. o. b. Tulsa)
dol. per gal._
2 r
r
T
541
959
972
610
021
634
585
802
676
738
Ifi5
773
811
611
876
274
3, 652
1,339
3,091
1 724
.098
.850
.098
.850
.098
.850
.093
.850
.093
.950
.093
1.050
.093
1.100
.093
1.100
.098
1.200
.100
1.350
.095
1.450
.095
1.500
11,313
13, 884
20, 468
11, 135
12, 092
18 697
10, 825
8,256
20 335
10, 132
5 603
24 307
9,795
5,467
27 659
9,945
5 982
31 143
9 940
4 945
35 711
11 007
9 725
38 161
10 624
11 947
36 271
11 704
18 229
29 070
' 623
i 12 086
i 18 287
i 22 013
2, 949
1 972
2 597
1 591
429
728
857
500
904
404
384
9 897
7 802
37r 280
469
325
r 469
.108
.108
.108
.103
.103
.103
.103
.103
.108
. 110
.105
.105
3,596
2,931
11, 224
4 271
3,625
10, 801
628
4 321
3,229
11, 134
1,127
919
4 572
3,444
10, 873
1 012
4 293
3,470
10, 611
1 020
4 321
3 905
9,879
1 105
4 627
3 646
9,684
T \ 068
4 562
3 563
9 700
4 647
3 384
9 726
1 190
4 553
3 211
9 846
1 184
4 572
3 041
10 070
1 193
4 408
2 994
10 472
.210
.210
.205
.205
.195
.225
.205
.205
924
» 2. 820
5 698
5 494
p. 100
P 1. 450
418
p. 110
965
.205
.205
.195
.190
P. 190
r
Revised.
v Preliminary.
i Beginning January 1954, jet fuel (formerly included with gasoline, kerosene, and
distillate fuel oil) is excluded. Jet fuel for January 1954 (thous. bbl.)
2
Production—from gasoline, 2,155; from kerosene, 640; from distillate, 161; domestic demand, 2,783; stocks, 2,839.
Revision for November 1952: 2,970 thous. bbl.
t Revised series. Data represent weighted averages based on quotations in 26 cities for all sizes of bituminous coal.
$ Revision for 1952 will be shown later.
NOTE FOR STEEL CONDUIT SERIES, p. S-34. * New series. Compiled by the National Electrical Manufacturers Association from reports of 11 manufacturers representing
approximately from 70 to 80 percent of the industry. The figures comprise shipments of galvanized and black enameled rigid steel conduit and cover both the domestic and export market^
including sales from consigned stock. Shipments for July 1952-January 1953 are as follows (thous. ft.): 8,245; 15,881; 27,035; 23,423; 22,091; 28,514; 21,567.
SURVEY OF CURRENT BUSINESS
S-36
April 1954
1954
1953
Unless otherwise stated, statistics through
1952 and descriptive notes are shown in the
1953 Statistical Supplement to the Survey
February
March
April
May
June
July
August
September
October
November
December
January
February
PETROLEUM, COAL, AND PRODUCTS—Continued
PETROLEUM AND PRODUCTS—Continued
Refined petroleum products— Continued
Motor fuel:
Gasoline (including aviation) :
Production, totalt
thous. of bbl_.
Gasoline and naphtha from crude oilj
thous. of bbl- Natural gasoline used at refineries
do
Natural gasoline sold to jobbers^
do
Domestic demand}!
-_
do
Stocks, end of month:
Finished gasoline
-_
do__ _
At refineries
do.
TJnfinished gasoline
do
Natural gasoline and allied products. _do
Exports
_
__do
Prices, gasoline:
Wholesale, refinery (Oklahoma, group 3)
dol. per gal_Wholesale regular grade (N. Y )
doRetail, service stations, 50 cities
do
Aviation gasoline:
Production, total
thous. of bbL100-octane a n d above _ _ _ _ _
do
Stocks total
do
100-octane a n d above _ _ _ _ _
_do
Asphalt :0
Production
do
Stocks, refinery end of month
__
do
Wax:
Production
thous. of l b _ _
Stocks, refinery, end of month
do
Asphalt products, shipments:
Asphalt roofing, total
._
thous. of squares _
Roll roofing and cap sheet:
Smooth-surfaced
do
Mineral-surfaced
-do
Shingles all types
do
Asphalt sidings
-- do
Saturated felts
short tons_.
96, 796
105, 897
101, 389
107, 243
106, 943
114, 123
114, 321
107, 729
109, 061
108, 623
112, 473
i 106, 373
86, 221
8,378
2,197
86, 458
93, 963
8,930
3,004
98, 158
90, 359
8,088
2,942
102, 044
96, 091
8,255
2,897
105,918
95, 051
8,948
2,944
114, 703
101, 563
9,511
3,049
112, 960
101, 833
9,502
2,986
109, 124
95, 644
9,991
2,094
106, 158
' 96, 166
10, 380
2,515
106, 037
' 95, 722 ' 99, 525
10, 145
9,873
2,756
3,075
99, 210
100 225
i 94, 336
9, 633
2,404
i 89, 852
149, 069
87, 232
8,804
7,748
2,349
153, 315
89, 513
9,416
8,268
2,513
148, 924
84, 695
9,108
8,849
3,239
147, 371
82, 322
9,044
10, 359
2,185
137, 863
78. 429
8,333
11,054
2,018
135, 724
75, 545
8,192
11,
253
r
2, 762
137,972
77, 262
8,078
11, 959
2,509
136, 192
76, 698
7,992
12, 636
••3,013
136, 398
74 930
8 097
13, 193
2,018
142, 472
78 021
8 275
12, 223
r
2, 560
.104
.129
.206
.104
.129
.208
.104
.129
.206
.104
.129
.206
.104
.129
.221
.114
.142
.222
.114
.142
.220
.114
.142
.220
.114
142
.218
.113
142
6,597
5,815
9,425
4,887
7,341
5,942
9,882
5,168
7,263
6,065
9,601
4,910
7,907
6,748
9,828
5,348
7,811
6,830
9,163
4,900
7,793
6,568
9,516
5,253
8,153
7,013
9,941
5,700
7,894
6,655
10 099
5,640
7,337
5,994
10 678
5 965
3,921
8,687
4,689
9,732
5,330
10, 473
6,451
10, 834
7,680
9,586
8,243
8,429
8,366
7,094
7 689
5,709
99, 680
150, 360
121, 800
148, 400
118, 720
140, 840
122,920
142, 800
123, 480
141, 680
111, 440
140, 840
111, 160
146, 720
2,966
3, 800
5,161
5,390
5,192
5,505
669
695
1,602
114
817
886
2,097
105
1,062
1,078
3,022
1,029
1,197
3.164
1,018
1,108
3,066
43, 423
50, 646
64, 339
62, 520
57, 264
120
109
98
151 129 1 163, 532
86 761 i 97, 997
8 172
8 820
10,334
10, 428
2,083
2 411
220
.111
.137
.218
7,074
6 120
10 162
5 856
7,676
6 230
10 172
5*498
7,245
6,156
10 773
5, 759
7 081
5 541
5 181
6 244
3 888
7 314
3 447
8.370
117, 600
142, 800
122, 080
148, 400
121 520
156 240
117 600
150 640
123,760
167, 440
6,327
5,855
5 726
4 042
2 613
1,210
1,147
3 148
1,413
1,346
3 568
1,265
1 338
3 252
1,246
1 359
3 121
898
995
583
626
59, 738
71, 876
63, 185
67, 390
119
144
154
182
221
.111
141
T
r
2, 565
T
r
573
673
p. 107
p 135
.216
2,843
639
668
1 404
r I 319
103
89
95
53, 352
40, 260
r 42, 989
93, 209
2 149
135
1 500
PULP, PAPER, AND PRINTING
PULPWOOD AND WASTE PAPER
Pulpwood:
Receiptsthous. of cords (128 cu. ft.)...
Consumption
...do
Stocks, end of month
do
Waste paper:
Receipts
— .short tons. Consumption __
do
Stocks, end of month
do
2,283
2,260
2,405
1,987
2,375
5,598
1,875
2,406
5,063
2,259
2,370
4,947
2,436
2,176
5,205
2,697
2,470
5,433
2,494
2,306
5,628
2, 522
2,548
5,601
2,367
2,380
5,582
2,220
2,157
5,639
647,080
682, 469
476, 575
742,150
741,071
474,106
762,156
750, 702
484,184
723, 385
732, 924
473, 084
718, 942
734, 350
456, 525
656, 745
633,320
480, 559
705,640
743,467
441,216
732, 704
748,809
424,945
772, 202
754, 254
442, 481
682, 394
667, 762
452,079
646,134
620,455
478,861
1, 356
49, 214
715, 468
186,191
34, 782
r
192, 768
' 88,107
1, 512
56, 401
810, 905
203, 364
37, 084
206, 012
89,186
1,467
51, 686
783, 586
200, 232
33, 717
201, 951
99, 431
1,518
57, 914
812,940
201,416
35, 828
209, 324
99, 650
1,483
63, 469
800, 485
188, 431
35, 639
199, 893
98, 260
1,352
45, 587
724,651
168, 730
31,325
190,159
97,351
1,546
68,163
844, 347
192, 556
37, 544
205,005
92,031
1,434
64, 270
775,930
183, 200
35, 531
186,093
89,092
1,573
51, 716
868,864
204,710
38, 485
202, 922
96,853
1,504
63,116
830, 754
191,913
35, 442
189, 442
91,576
1,337
45, 016
720,957
184,693
34, 343
191, 255
82, 766
1, 487
59,370
• 808, 709
201, 693
38, 590
• 201, 614
f 82,246
158, 036
39,166
32, 592
1,936
31, 683
165,367
42,186
36, 738
2,190
33,052
164, 671
41, 427
40, 609
1,711
34, 740
173, 013
41, 965
42, 354
1,348
37, 271
175,179
36, 343
42, 988
1,497
35,187
154, 215
36, 725
38, 319
1,582
32, 525
163,100
42,459
37, 636
1,874
31,204
153,880
40,615
28,206
2,677
27, 555
145, 601
43,100
28,028
3,208
25,849
156, 634
43, 766
29, 492
3,298
25,980
148, 629
41, 252
32,808
2,957
27,298
155,081
42,188
33,457
3,754
28,436
6,228
2170,648
16,415
2 72, 752
58, 599
2,427
19, 664
10,449
167,154
20, 359
69, 852
55, 693
3,205
17,278
8,672
12, 646
175, 608 191, 660
21, 523 r 20, 461
' 60,073 83, 397
' 62, 540'61,457
2,429
3,030
16, 694
23, 462
23, 614
84,371
61, 293
2,604
25,572
13, 285
9,236
' 160,774 ' 186,924
23,848
22, 303
'63,381
79. 701
«• 48,628
62,304
2,499
2,594
21,853
19,380
11, 712
179,473
22, 911
68,156
60,714
3,259
23,417
17,958
17,162
183,914
174,942
24,125
23, 603
' 68,156 62, 278
57,870
60,768
3,726
3,328
26,765
23,086
28,965
177,164
17,232
76,627
57,990
3,297
20,862
14,291
144,406
16,210
60,617
46, 507
3,048
2,148
6,132
r 2,393
' 2, 387
5,639
• 620,217
• 648, 266
454, 283
WOOD PULP
Production:
Total, all grades
-thous. of short tons..
Dissolving and special alpha
short tons..
Sulphate (paper grades).
do
Sulphite (paper grades)
do
Soda
do
Groundwood
do
Defibrated, exploded, etc
do
Stocks, own pulp at pulp mills, end of month:
Total, all grades
short tons_.
Sulphate (paper grades)
do
Sulphite (paper grades)
...do
Soda
do
Groundwood
do
Exports, all grades, total
Imports, all grades, totalc?--Dissolving and special alpha
Sulphatec?1
Sulphite (paper grades)
Soda.
Groundwood
do
do
do
do
do
-do
do
11, 885
r
PAPER AND PAPER PRODUCTS
All paper and paperboard mills:
Paper and paperboard production, total
thous. of short tons..
Paper (inch building paper)
..do
Paperboard
do
Building board
do
2,263
2,263
2,281
2,042
2,265
2,298
2,225
2,409
2,023
2,186
'r 2,164
1,084
1,085
981
1,077
1,067
1,082
1,065
1,158
1,012
1,046
1,066
1,052
1,076
941
1, 056
1,071
1,100
1,053
1,134
1,031
916
9%
120
128
125
126
125
107
117
116
109
95
101
r
Revised.
*> Preliminary.
i Beginning January 1954, jet fuel (formerly included with gasoline, kerosene,
and
distillate
fuel
oil)
is
excluded.
Jet
fuel
for
January
1954
(thous. bbl )•
2
Production—from gasoline, 2,155; from kerosene, 640; from distillate, 161; domestic demand, 2,783; stocks, 2,839.
Revisions for January 1953 (shoi t tons): All grades, 191,487; sulphate 81,319.'
^Revisions for 1952 will be shown later.
O Prior to the October 1953 SURVEY, data were shown in short tons (5.5 bbl. per ton),
cf Revisions for 1952 will be shown later.
2,066
987
967
112
S-37
SUEVEY OF CURRENT BUSINESS
April lf>54
Unless otherwise stated, statistics through
1952 and descriptive notes are shown in the
1953 Statistical Supplement to the Survey
1954
1953
February
March
April
May
June
July
August
September
October
November
December
January
' 801, 866
r 832, 041
857, 709
' 847, 182
r 487, 486
r 820, 148
' 816, 029
r 839, 690
' 836, 216
' 490, 960
856,000
817, 769
865, 000
854, 000
501,960
February
PULP, PAPER, AND PRINTING—Continued
PAPER AND PAPER PRODUCTS—Con.
Paper, excl. building paper, newsprint, and paperboard (American Paper and Pulp Association) :
Orders new
short tons
Orders unfilled end of month
do
Production
do
jB&torks end of month
^e paper:
do
Orders unfilled end of month
do
Shipments
do
Stocks end of month
Printing paper:
Orders new
Orders', unfilled, end of month
Production
do
do
do
do
^tof>V«; pTirl of month
do
Price, wholesale, book paper, "A" grade, English finish, white, f. o. b. mill-.dol. per 100 lb_.
Coarse paper:
Orders new
short tons
Orders unfilled end of month
do
Production
do
Shipments
do
Stocks end of month
do
Newsprint:
Canada (incl. Newfoundland):
Production
_
do
Shipments from mills
do
Storks at mills end of month
do_
United States:
Consumption by publishers
- -- do
Production
do
Shipments from mills
do
Stocks, end of month:
At mills
...do
At publishers
do
In transit to publishers
- - do
Imports
do
Price, rolls, contract, delivered to principal
ports
dol. per short ton
P^erboard (National Paperboard Association) :
Orders new
short tons
Orders, unfilled, end of month
do
Production total
- do
Percent of activity
Paper products:
Shipping containers, corrugated and solid fiber,
shipments
mil sq. ft. surface area
Folding paper boxes, value:
New orders
1947-49=100..
Shipments
do
811, 295
820, 807
809, 914
803, 669
439, 583
922, 907
866, 131
882, 601
877. 582
444, 322
856, 801
853, 842
881, 403
869,011
456, 707
856, 552
837, 262
872, 696
873, 123
456, 255
857, 394
841, 175
852, 103
853, 480
490, 105
852, 229
898, 245
785, 661
795, 157
480, 613
861,
886,
868,
867,
481,
210
394
688
756
655
871, 848
910, 040
854, 827
848, 200
487, 000
.917,863
889. 245
936, 711
937. 805
483, 750
100. 915
42, 247
99, 778
96, 998
109, 930
114, 747
48, 125
108, 326
108, 867
109, 109
111, 120
49, 915
111, 896
109, 255
111, 740
103, 939
44, 030
112, 343
109, 820
114, 265
106, 914
44, 180
108, 556
106, 764
116, 057
110, 098
60, 575
91, 846
93, 699
114, 204
104, 843
57, 398
108, 168
108, 020
114, 352
100, 159
52, 020
108, 598
105, 535
117, 057
109, 887
44, 211
115. 846
116, 817
116, 437
r 95, 228 r 95, 901
' 40, 233 «- 35, 853
106, 106 •• 104, 122
r
100, 050 r 100, 281
r
122, 523 ' 126, 364
98, 000
31,853
100, 000
102,000
124,364
285, 911
495, 190
282, 239
281, 305
148, 463
339, 405
528, 013
307, 094
306, 583
148, 974
294, 237
518, 375
305, 703
303, 514
151, 165
297, 385
515, 610
302, 870
300, 510
153, 525
308, 394
524, 410
298,215
299, 593
151, 800
310, 681
552, 480
280, 905
282, 611
150, 094
280, 988
527, 024
308, 446
301, 142
157, 512
314, 921
549, 458
294, 782
292, 487
159,705
311. 553
545. 979
321. 420
315,040
166, 074
' 274, 906
' 508, 340
296, 073
' 299, 811
' 160, 614
«- 302, 577
' 520, 260
r 289, 628
' 290, 655
r 159, 614
300, 000
522, 000
305, 000
298,000
166, 614
v 13. 80
13.80
13.80
039
355
756
776
735
288, 155
205, 682
283, 163
280, 828
125, 070
313, 043
268, 476 ' 260, 949
201, 230 ' 185, 543 * 165, 249
313. 984
290, 817 r 279, 265
317,495 ' 284, 222 ••281,243
122, 559 ' 129, 100 r 127, 122
283, 000
168, 249
286, 000
280, 000
133, 122
491, 254
494, 212
169, 702
484, 507
498, 506
155, 703
467, 431
482, 598
140, 536
510, 772
506, 544
144, 764
473, 176
491, 450
126, 490
473, 325
488, 571
111, 244
476, 151
452, 470
134, 925
457, 927
437, 780
155, 072
381, 186
90, 727
89, 640
340, 044
88, 121
90, 755
359, 133
90, 824
92, 295
385, 386
85, 966
85, 824
429, 509
97, 112
96, 288
427, 904
92, 385
90, 847
388, 237
89, 656
90,240
363, 057
96, 284
95, 132
345, 057
88, 197
86, 219
9,124
483, 059
69, 684
405, 424
10, 211
484, 762
76, 270
428, 210
7,577
514, 320
81, 719
404, 365
6,106
539, 622
91,010
436, 879
6,248
548, 537
77, 414
402, 053
7,072
514, 419
80, 803
437, 867
8,610
464, 899
87, 468
412, 584
8,026
477, 800
73, 969
448, 251
9, 178
470, 536
88, 739
356, 455
11, 156
488, 503
96, 457
125. 25
125. 25
125. 75
125. 75
125. 75
125. 75
125. 75
125. 75
125. 75
r> 125. 75
13.55
13.55
13.55
13.55
13.72
264, 708
178, 315
266, 787
266, 678
123, 705
296, 149
182, 329
293, 058
292, 135
124, 628
278, 359
173, 820
287, 262
286, 865
125, 025
290, 418
168, 430
292. 593
295, 808
121,810
272, 040
164, 575
279, 036
275, 893
124, 950
270,
178,
256,
257,
123,
439, 167
408, 610
159, 082
484, 276
441, 512
201, 846
480, 316
498, 889
183, 273
480, 239
467, 656
195, 856
463, 193
486, 389
172, 660
346, 035
82, 892
83, 208
420, 956
91, 911
94, 505
408, 874
88, 194
89, 004
429, 562
92, 405
91, 168
11, 291
555, 508
93, 225
377, 700
8,697
518, 985
85, 618
422, 878
7,887
515, 063
91, 272
436, 024
125. 25
125. 25
125. 25
968, 700 1, 156, 300 1, 101, 800 1, 040, 100 1, 152, 100
567, 500
437, 300
459, 800
539, 000
567, 000
973, 800 1, 072, 900 1, 071, 200 1, 073, 400 1, 092, 000
95
95
95
96
93
13.80
964
095
249
445
757
13.80
308,
198,
286,
287,
122,
13.80
13.80
13.80
973, 300 1, 105, 200 1, 139, 300 1, 078, 600 1, 021, 400 1, Oil, 200 rr 885. 400 921, 700
522, 500
467, 400
330, 800 321, 000
392, 400
423, 700 374, 400
590, 800
939, 700 1, 122, 400 1, 069, 600 1, 170, 700 1, 051, 000
992, 200 ' 937, 700 926, 800
89
81
89
98
97
79
94
94
6,398
7,292
7,059
6,806
7,012
6,459
7,041
7,198
7,457
6,661
6,256
5,815
5,961
154.9
138.4
183.1
158.6
169.4
153.4
162.5
152.7
174.6
155.6
162.6
143.9
176.9
158.4
160.5
169.2
172.7
177.7
149.5
152.8
156.4
154.1
174.0
161.9
182.3
166.0
1,031
811
220
1,031
805
226
852
701
151
1,359
1,069
290
993
815
178
736
568
168
1,014
800
214
844
738
106
1,323
1,132
191
1,079
867
212
974
789
185
826
650
176
878
707
171
45 225
121 618
58 625
46 744
114 191
46 729
43 251
112 677
49 743
42 400
112 316
45' 947
r 46 960
r 112 679
47 140
46 604
114* 898
.209
.204
.200
57 299
r 50 173
r }go 839
1 397
r 19 960
21 208
r
1ft ft ^8
19 144
r 31 §65
32 319
53 356
48* 806
184 081
PRINTING
Book publication, total
New books
New editions
number of editions
do
do
RUBBER AND RUBBER PRODUCTS
RUBBER
Natural rubber:
Consumption
_ . __ long tons__
Stocks, end of month
. .__
do
Imports including latex and guayule
do
Price, wholesale, smoked sheets (New York)
dol. per lb._
Chemical (synthetic):
Production
__
.
long tons
Consumption
do
Stocks, end of month. . . ._.
do
Exports
_.
do .
Reclaimed rubber:
Production
_ __
_ __ __
do
Consumption.
do
Stocks, end of month. .
do
1
45, 231
94, 151
48, 455
50, 707
98, 627
56, 785
49, 375
108, 892
60, 578
46, 889
113, 532
56 126
48, 224
112, 959
61 423
43 929
118 825
54 661
43 732
119' 332
44 156
.272
.260
.244
.250
.245
.239
.234
66, 970
68, 888
114, 099
1,264
81, 408
77, 903
116, 089
1,713
82, 952
77 221
122, 041
1,500
85, 302
72 234
132, 109
2 299
80 227
71 751
143, 789
1 781
79 360
61 299
159 486
1 923
68 299
59 241
169 152
1*996
24, 373
24, 098
30, 631
27, 699
27, 334
30,280
28,714
26 483
31, 263
26 839
25 213
31 763
26 315
24 637
32, 791
23 001
23 414
31 506
8,236
7 243
3,263
3, 895
85
15, 295
121
9,407
8 256
3,570
4,598
87
16, 456
96
9 262
8 913
3 798
5,001
115
16 872
112
8 987
8 942
3 200
5,604
139
16 973
135
8 572
9 279
3 537
5,601
142
16 259
137
6 428
6,364
10, 308
49
7 470
6 555
11, 242
69
7 544
6 760
12* 155
80
6 940
6 586
12 592
80
7 035
6 907
12 811
59
.235
.200
.206
677
652
625
244
57 170
58 515
166 724
1 712
57 221
52 670
166' 523
2 359
22 532
22 666
30 318
23 360
22 409
30 147
23 534
21 944
30 692
31 226
8 173
9 555
3 616
5,793
146
14 883
137
7 416
8 798
3 130
5,523
145
13 550
142
7 148
7 424
2 837
4,438
149
13 287
158
7 664
7* 573
3 155
4^246
172
13 446
'l37
6 395
7 302
12 097
65
5 679
6 529
10 226
57
60
58
167
2
21 191
1Q fi^ft
59
50
175
2
373
902
845
688
20 969
1Q ^14.
32 855
TIRES AND TUBES
Pneumatic casings:
Production
Shipments, total
Original equipment
Replacement equipment
Export
.
Stocks, end of month
Exports
_
Inner tubes:
Production
Shipments ..
_. _
Stocks, end of month..
Exports.
r
Revised.
* Preliminary.
thousands
do
do
do
__ _
do
do
do
do
do
do
do
K
AKK
r 7On
11 288
99
5
S
7 KO
Qfifl
in Qf»4
1 Revisions in 1952 for natural rubber imports (long tons): July, 50,528; October, 56,187; December, 78,067.
75
6
5
2
CCC
0
yJOl
ft DC
991
n con
2,729
2,903
IQP.
14 8^4.
132
1 AV
1 *» 790
137
6 299
7 ftO9
9 RQ1
3,993
H
Q77
lOfi
A 7OO
4
n
ftftfi
fi! 1
70
n
A Q.1A.
KCA
CO
1O 1 ft7
Kf]
7
6
04.9
0AO
9 fi^4.
3,557
117
I K 710
SUEVEY OF CURRENT BUSINESS
S-38
Unless otherwise stated, statistics through
1952 and descriptive notes are shown in the
1953 Statistical Supplement to the Survey
April 1054
1953
February
March
April
May
June
July
1954
August
September
October
November
December
January
™£»-
167, 782
187, 434
166. 452
158, 930
22, 529
97
19, 494
13 083
4,022
20, 243
84
14, 130
T
19 231
r
5, 349
17, 769
74
11, 143
r
25 869
r
8, 240
16, 895
78
15, 20?
27 56%
10, 080
490, 055
469 095
450, 729
376 469
STONE, CLAY, AND GLASS PRODUCTS
ABRASIVE PRODUCTS
Coated abrasive paper and cloth, shipments .reams . . 184, 754
193,830
206, 348
178,323
183, 075
172, 177
160, 350
186, 236
202, 356
17, 325
80
14. 155
24 464
8,899
20, 215
84
20, 813
23, 865
9,895
21, 802
93
20, 891
24 773
9,715
23, 399
97
22 924
25 247
9 401
22, 698
97
26, 400
21 542
8,832
24, 134
100
26 480
19 204
7 829
24, 289
101
27, 092
16 445
6,652
23, 795
102
27, 433
12 859
5,001
24, 738
103
27, 556
10 049
4,109
377, 166
375 051
447, 707
439, 031
485, 905
495 613
499 936
496 994
533 073
544 733
521, 922
540 237
526, 678
517 921
531, 172
533 562
538, 051
548, 073
PORTLAND CEMENT
Production
Percent of capacity
Shipments
Stocks finished end of month
Stocks clinker end of month
thous . o f bbl _ _
thous. of bbl
do
-_ do
T
CLAY PRODUCTS
Brick, un glazed:
Production J
thous. of standard brick
Shipments!
do
Price, wholesale, common, composite, f. o. b.
plant
_ dol. per thous Clay sewer pipe, vitrified :t
Production
short tons
Shipments
-do Structural tile, unglazedrt
Production
do
Shipments
do
377, 536
294 766
r
27. 410
27. 677
27. 789
27. 791
27. 839
27. 957
27. 957
28. 100
28. 100
28. 147
28. 147
124, 673
106, 651
143,156
136, 741
142, 147
135, 874
139 598
131, 359
145 562
140, 039
136, 631
145, 519
139 095
148, 165
144( ggg
147, 954
144, 393
154, 601
135 081
124, 716
131,519
95, 572
118 054
84, 965
73, 976
68, 020
79, 890
74, 735
80, 799
80, 474
78 329
83 583
80 701
85 114
84 175
83, 281
83 177
76 567
82 428
75, 654
85, 245
81, 884
81 631
73 528
75 027
61, 939
67 871
55 146
9,000
8 510
10, 680
12, 170
10, 291
9,242
11 002
10 504
10, 861
10 225
10 586
9 853
11, 489
10 646
10, 214
10 572
11, 088
10 229
9, 622
8 850
8,889
9 292
10, 009
8 820
28. 033
v 28. 033
GLASS PRODUCTS
Glass containers:
Production
thous. of gross
Shipments domestic total
do
General-use food:
Narrow-neck food
- doWide-mouth food (incl. packers' tumblers,
jelly glasses, and fruit jars). -thous. of gross.Beverage (returnable and nonreturnable)
thous. of gross _.
Beer bottles
do~
Liquor and wine
do-Medicinal and toilet
doChemical, household and industrial
do
Dairy products
do-.
Stocks end of month
do
Other glassware, machine-made:
Tumblers:
Production
_
thous. of dozens
Shipments
- do Stocks
. . - - - _ - do Table, kitchen, and householdware, shipments
thous. of dozens. .
9,557
8 244
825
1,293
1,006
1 284
923
824
1,090
1 649
1,032
736
727
805
778
2,403
3,266
2,308
2,909
2,839
2,765
3,392
2,984
3,010
2,575
2,643
2,842
2,588
497
572
929
2,270
804
212
10, 677
828
883
1,418
3,071
1,102
308
8,970
1,033
967
906
1,869
925
229
9, 741
1, 149
1 111
1,040
1 984
816
210
9 909
1,317
1 181
994
1,879
871
221
1 0, 234
1,127
1 393
901
1 815
794
234
10 646
716
1,274
903
2,048
923
299
11, 193
440
1,104
1,098
2,077
895
325
10, 527
511
908
1,436
2,133
898
301
10 996
703
553
1,308
2 012
697
266
11 388
1,138
703
968
2,001
694
417
10, 683
346
514
937
2,262
878
234
11 520
350
549
909
2,024
889
157
12 563
6,387
5,541
9,566
6,778
5, 908
10, 230
6,029
5,886
10, 582
6,049
5,951
10,705
5,296
4,800
11, 089
3,861
4,931
9,953
5,705
5,389
10, 107
4, 810
4,785
10, 075
5,450
5,716
10, 267
4,635
3 986
10, 716
4,124
3,914
10, 184
5,180
4,399
10, 356
5,355
5,064
9,980
3, 656
3,667
3,549
3,533
2,741
2,739
3,252
3,793
3,725
3,015
2,444
2,750
3,122
12 675
13 126
GYPSUM AND PRODUCTS
Crude gypsum, quarterly total:
Import^
thous of short tons
Production
- do~Calcined production quarterly total
do
Gypsum'products sold or used, quarterly total:
tin calcined
short tons
Calcined:
For building uses:
Base-coat plasters
do
Keene's cement
do
All other building plasters
do
Lath
thous. of sq. ft
Tile
<ioWallboardcf
do
Industrial plasters
_
- short tons
444
1,863
1, 718
822
1,887
1,798
1,190
2,108
1,867
737
2,051
1,789
608, 516
566, 785
601, 383
604, 771
411 877
12, 963
168 692
579, 491
4, 730
926, 229
66, 339
432 369
13, 401
196 988
593, 756
7,181
942 793
66, 893
473 536
12, 081
231 835
660, 025
7,301
908 056
59, 866
409 354
10 588
219 313
602 035
7, 437
952 870
61,008
TEXTILE PRODUCTS
CLOTHING
Hosiery, shipments --- - thous. of dozen pairs. .
Men's apparel, cuttings:* K
Tailored garments:
Suits
thous. oi units
Overcoats and topcoats
do
Trousers (separate), dress and sport
do
Shirts (woven fabrics) , dress and sport
thous. of doz__
Work clothing:
Dungarees and waistband overalls
__do-_
Shirts
-do
13, 724
14, 356
12, 862
11, 192
12, 328
1,984
338
4,713
2,037
350
5,087
i 2, 220
1521
1
5, 662
1,844
559
4,897
1,773
614
4,398
1
1,869
1,942
1,655
405
440
i 2, 274
1444
U96
1,783
364
394
369
398
397
390
11, 964
15,049
14, 085
14, 92t
13, 569
1, 285
1456
13 370
1 713
652
3,829
1,511
562
3 725
1
1,891
1576
i 4, 482
1 566
347
3 682
1 1, 493
1,462
1,590
1
1, 805
1,491
i 376
1357
371
419
396
394
i 440
1414
278
336
11. 821
r
1 1, 834
1285
i 3, 852
r 2
1 840
'2256
4 512
1 732
276
4 848
1
' 2 1, 520
1,668
1, 526
i 234
1339
r 2
r2
256
r 2372
348
392
Women's, misses', juniors' outerwear, cuttings
(quarterly through 1953):*
7,314
3,731
6,497
Coats
thous . of units
2 2 200
P 5,711
2 442
65, 028
73, 107
53, 753
Dresses
- -do_ _ _
P 53, 358 2 19 332
20' 356
2 1 639
5,439
2 864
2 546
p 2 987
Suits
do
1 774
2
2,874
3,537
3,100
Waists, blouses, and shirts
thous. of doz__
p 3, 122
1. 152
1,249
T
2
Revised.
J> Preliminary.
i Data cover a 5-week period.
See note marked "*" at bottom of page for change in sample coverage beginning January 1954.
J Revisions for 1952 are shown in the August 1953 SURVEY.
cf Includes laminated board, reported as component board.
HData for April, July, October, and December 1953 cover
5-week periods and for other months, 4 weeks.
*New series. Compiled by the U. S. Department of Commerce, Bureau of the Census. Data are estimated industry totals derived as follows: Men's apparel—estimates beginning January 1954
are based on a monthly sample survey of manufacturers, accounting for approximately 75 percent of the total 1952 production; data prior to 1954 are based on a sample covering establishments
that accounted for about 90 percent of the total 1951 cuttings of these items. Women's outerwear—based on reports from establishments classified in the women's principal outerwear industries
for the specified items; monthly data beginning January 1954 are estimated from reports of producers that account for appoximately 75 percent of total output; quarterly estimates prior to 1954
were based on reports from 2,500 establishments accounting for about 90 percent of total shipments in 1951. Cuttings for 1950 and 1951 will be shown later; data for 1952 (except men's
dungarees, etc.) are shown at bottom of p. S-38 of the December 1953 SURVEY. Cuttings of men's dungarees and waistband overalls for January-December 1952 and January 1954 (units as above) •
372; 364; 405; 444; 369; 397; 376; 371; 396; 440; 278; 234; 257.
SURVEY OF CURRENT BUSINESS
April 1954
Unless otherwise stated, statistics through
1952 and descriptive notes are shown in the
1953 Statistical Supplement to the Survey
S-39
1954
1953
February
April
March
May
July
June
August
September
October
November
December
5,547
10, 788
14, 323
15, 151
January
February
TEXTILE PRODUCTS—Continued
COTTON
Cotton (exclusive of linters):
Production:
Ginnings§
thous of running bales
Crop estimate, equivalent 500-lb. bales
thous of bales
Consumption^
. _. bales
Stocks in the United States, end of month,
total^f
_ _ _.
thous. of bales
Domestic cotton, total
do
On farms and in transit
do
Public storage and compresses
_ . _ do
Consuming establishments
_ do-.
Foreign cotton total
do
Exports
bales
Imports 9 __
_.
do
Prices (farm), American upland
cents per lb._
Prices, wholesale, middling, 1 M»", average, 10
markets
cents per Ib
Cotton linters:!
Consumption
_ __.
thous. of bales ._
Production
do
Stocks, end of month
do
r l
1,166
349
14, 955
2
16 140
3 IB 324
757, 152
678, 827
s 16 470
684, 367
16, 597
16, 532
2,963
11,925
1,644
65
375, 035
11.070
30.7
15, 676
15,615
1 856
12,058
1 701
61
296 651
6,503
30.1
14, 631
14 568
1 318
11 462
1 788
63
32.6
33.2
34 0
95
197
1 457
r 1
766, 090
r
15, 139
769, 496
4
909, 240
748, 049
740, 864
4
742, 064
725, 849
702, 425
5,502
5,409
259
3,706
1,444
93
114, 730
8,375
31.9
19, 289
19, 204
14, 329
3,682
1,193
84
193, 304
9,130
32.8
33.4
4
4
872, 128
684, 990
18, 837
18, 757
11, 687
5,815
1,254
80
199, 809
20, 209
33.1
18, 251
18, 168
7 338
9,368
1,462
83
217, 307
7,776
32.5
17, 745
17, 670
4,939
11, 186
1,545
75
242, 848
8,510
31.8
33.0
32.8
32.7
32.7
121
60
986
122
172
1,081
124
247
1,177
111
240
1,297
111
221
1,376
113
222
1,428
2,418
54, 916
6,267
47, 444
4,651
46, 093
7,193
2 540
49, 493
6, 306
45, 560
4 777
31 44
36.9
17.5
17.8
29 59
36 9
16. 5
17 5
29 13
34 9
15.9
17 5
28 56
34 9
16.0
17 3
27 18
P 34 9
p 15 8
v 16 8
.625
921
p. 630
P 921
20, 933
19, 695
10, 246
436
4
9, 683
4
118 8
20, 897
19 652
9,145
457
8,631
124 7
20, 888
19 656
9,231
469
8 697
128 1
»• 1, 445
r
6, 858
1,819
r
79
259, 475
27, 055
30.2
9,201
9,117
858
6,366
1,892
84
246, 467
12, 495
31.5
8,119
8,025
719
5,491
1,817
94
208, 208
33, 122
31.5
7,129
7,031
621
4,691
1,719
97
260, 905
15, 938
31.7
6,181
6,084
470
4,005
1,609
97
220, 226
11, 430
31.5
32.9
33.2
33.0
33.4
33.2
110
174
' 1, 096
137
152
1,097
128
<119
1,126
131
83
1,063
123
66
1, 050
51, 908
2,779
2,612
48, 672
6,295
55, 304
6,887
62, 247
6.311
2,610
57, 382
4,924
47, 359
4,399
33.92
40.7
19.3
17.0
32.52
38.8
18.6
17.0
32.01
38.8
18.4
16.9
31.98
38.8
18.4
17.3
32. 82
38.2
18.5
18.0
32.56
38.2
18.3
18.0
32.97
38.2
18.3
18.0
32.74
37.2
17.9
18.0
.702
1.018
.692
1.014
.690
1.002
.679
.995
.675
.984
.670
*.978
.660
5.972
.655
'-> . 964
21, 622
20, 277
10, 179
518
9,561
140.2
21, 575
20, 221
10, 251
513
9,635
139.5
21, 259
19, 926
12, 353
501
4
11, 608
4
136. 7
21, 377
20, 013
10, 133
507
9,489
138.6
21,201
19, 824
9, 938
497
9,330
136.1
21,344
20, 007
10, 126
405
4
9, 484
4
110. 9
21, 391
20, 063
9, 857
493
9,279
134.8
21,322
20, 039
9,582
491
9,044
133.9
21, 244
19, 953
11, 853
479
4
11, 192
4
130. 6
21, 252
19, 990
9,232
474
8,719
129 1
71.0
18.4
80.8
21.9
78.3
24.1
81.5
26.6
80.3
27.0
78.8
27.0
72.0
23.8
63.6
22.8
64.6
26.0
62 9
25 5
53 9
21 9
55 9
24 3
55 6
24 2
62.9
16.5
6,260
61.1
17.2
10, 892
60.3
22.9
11,351
57.9
26.1
6,069
56.8
30.1
7,241
59.6
32.9
7, 557
65.1
37.0
5, 733
72 1
35.8
3,355
74 3
34.0
2,006
71 3
29 9
2 277
77 2
32 7
1 775
78 6
33 i
1 215
75 2
30 6
.780
.366
.780
.366
.780
.366
.780
.336
.780
.336
.780
.336
.780
.336
780
.336
.780
.336
780
336
780
.336
780
336
P 7§o
•P 336
10, 201
r 10, 122
4
r
4
103
4
49
987
4
4
r
4
4
30.4
COTTON MANUFACTURES
Cotton cloth:
Cotton broad-woven goods
over 12 inches in width,
production quarterly o1 mil of linear yards
Exports
thous. of sq. yd_.
Im ports 9
do_
Prices, wholesale:
Mill margins
cents per Ib
Denim, 28-inch
cents per yd
Print cloth, 39-inch, 68 x 72 _ _
do...
Sheeting, in gray, 40-inch, 48 x 44-48
do
Cotton yarn, natural stock, on cones or tubes:
Prices, wholesale, f. o. b. mill:
20/2, carded, weaving
dol. perlb__
36/2, combed, knitting
_. -do
Spindle activity (cotton system spindles) :f
Active spindles, last working day, total. __thous__
Consuming 100 percent cotton
do
Spindle hours operated, all fibers, total.mil. of hr_
Average per working day
do
'Consuming 100 percent cotton
..do.. ..
Operations as percent of capacity
4
5
4
r
45, 355
4,94
r
s
.643
.955
4
.630
. 927
.636
.939
5
r 5
4
r 5
RAYON AND ACETATE AND MFRS.
Filament yarn and staple:
Shipments, domestic, producers':
Filament yarn
mil. of Ib
Staple (incl. tow)
do
Stocks, producers', end of month:
Filament yarn
do
Staple (incl tow)
do _.
Imports
thous. of Ib
Prices, wholesale:
Yarn, viscose, 150 denier, filament, f. o. b. shipping point
dol. per Ib
Staple, viscose, l^i denier
- _ do
Rayon and acetate broad-woven goods, production,
quarterly cf
thous. of linear yards _.
510, 845
r
513, 367
7
473, 469
431, 427
SILK
Silk, raw:
Imports
_
thous. of Ib
Price, wholesale, white, Japanese, 20/22 denier,
87% (AA), f. o. b. warehouse
dol. per lb._
585
640
573
666
593
698
'814
643
695
414
521
465
5.56
5.53
5.05
5.12
5.21
5.21
5.20
5.18
5.23
5.27
5. 43
5.58
P5.39
WOOL
Consumption, mill (clean basis) :Jt
29, 564
30, 000 44 36, 490
31, 272 4 432, 225
Apparel class
. thous. of Ib
29, 876
31, 396
27, 736 4 29 645
18 968 r 4 20 913 r 18 543
r 9 813
12, 812
12, 656
14, 320
Carpet class.
_.do
9,736
10, 556 r 9,940 4 11, 730
10, 308
7, 770
8 992 T 4 jo 723
r
31, 569
28, 578
29, 791
Imports, clean content 9 _ _ _
do__
19, 169
21, 994
25, 093
30, 622
20, 774
22 761
12 889
16 322
17 135
r
18, 535
19, 489
17, 254
Apparel class (dutiable), clean content*
do
15, 141
10, 780
13, 463
14, 956
13, 267
11,237
8,094
8,182
6, 126
Prices, wholesale, raw, Boston:
1.725
1.722
Territory, 64s, 70s, 80s, clean basis
dol. per l b _ _
1.737
1.752
1.748
1.725
1.725
1.725
1.725
1. 72,5
1.725
1.725
1.725
1.185
1.225
Bright fleece, 56s-58s, clean basis
do —
1.201
1.199
1.194
1.189
1.174
1.200
1.204
1.200
1.205
1.205
1.196
flbstralian, 64s, 70s, good topmaking, clean basis,
6
6
6
6
6
6
6
6
6
1. 725
1. 750
1. 775
1. 775
1. 775
^n bond
dol. per lb__
1.778
1. 780
6 1 775
6 1. 780
1. 780
6 1 . 775
1. 779
1. 780
r
1
2
3
4
&
Revised.
9 Preliminary.
Total ginnings of 1952 crop.
Ginnings
to
Jan.
16.
Total
ginnings
of
1953
crop.
Data
cover
a
5-week
period.
Specifications
changed- quota6
7
tions beginning June 1953 not comparable with earlier data.
Nominal price.
Data cover a 14-week period; other data are for 13 weeks.
'
§Total ginnings to end of month indicated.
^Data for April, July, October, and December 1953 cover 5-week periods and for other months, 4 weeks; stocks and number of active spindles are for end of period covered.
9 Revisions for 1952 (units as above): Cotton imports, September-December, respectively, 6,021; 7,632; 11,674; 32,742; cotton cloth imports, June, 1,246- July 2630- wool'imports total
A.pril, 34,647.
'
' '
*New series. Imports of wool are compiled by the 17". S. Department oj Commerce, Bureau of the Census; dutiable wool covers essentially the apparel class; data prior to April 1952 will be
shown later.
tRevisionsf or 1952 are shown in the August 1953 SURVEY.
^Revisions for broad-woven goods for first and second quarters of 1952 are shown in the October 1953 SURVEY.
SUEVEY OF CUEKENT BUSINESS
Unless otherwise stated, statistics through
1952 and descriptive notes are shown in the
1953 Statistical Supplement to the Survey
April 19r>4
1953
February
March
May
April
1954
July
June
August
September
October
November
December
January
2.122
2.110
2.098
2.098
2.073
» 2, 037
February
TEXTILE PRODUCTS—Continued
WOOL
MANUFACTURES
Knitting yarn, worsted, 2/20s-50s/56s, Bradford system, wholesale price
dol. perlb__
Woolen and worsted woven goods, except woven
felts :t
Production Quarterly total
thous oflin yd
Apparel fabrics total
do
Government orders
do
Other than Government orders total do
Men's and boys'
do
Nonapparel fabrics total
do
Blanketing
do
Other nonapparel fabrics
do
Prices, wholesale, suiting, f. o. b. mill:
Flannel, 12-13 oz./yd., 57"/60"__~ 1947-49=100Gabardine, 10^-12 H oz./yd., 56"/58"
do
2.110
2.122
2.134
2.146
85, 334
72, 691
8,153
64, 538
33,118
31 420
12,643
6,818
5,825
113.9
104.7
2.170
2.170
2.158
93, 123
79, 841
4,216
75, 625
39, 694
35 931
13, 282
7,739
5,543
113.9
105.3
113.9
105. 8
113.9
105.3
113.9
105.3
84, 375
71, 746
3 655
68,091
29, 404
38 687
12 629
8,133
4,496
113.9
105.3
112.9
103.6
72 485
63 606
4 320
59 286
28, 389
30 897
8 879
6 236
2,643
112.9
103.6
112.9
103.6
112.9
103.6
112.9
103.6
112.9
103.6
111.5
103.6
TRANSPORTATION EQUIPMENT
AIRCRAFT
Oivil aircraft, shipments
Exports 9
number-do
382
82
358
81
402
112
417
119
339
104
402
154
350
138
359
92
235
146
275
137
250
105
278
92
v 240
number-__ .do
do
-do
do
-do
- - do
583, 001
190
700, 685
236
723, 532
145
643, 487
367
661, 992
380
705, 132
376
615, 382
447
573, 688
348
620, 562
519
452, 487
371
482, 920
424
549, 946
401
v 531, 529
326
P 444, 173
P 422, 998
v 87, 030
p 72, 860
._
-
MOTOR VEHICLES
Factory sales, total
._
_
Coaches total
- _
Domestic
Passenger cars, total
-- -Domestic
Trucks total
- __
Domestic
-
189
368
599, 134
581, 870
105, 622
92, 788
587, 549
570, 826
74, 063
66, 063
27, 257
15, 372
11, 885
28, 675
16, 704
11, 971
28, 511
16, 455
12,056
22, 661
14, 397
8,264
••23,585
13, 544
' 10, 041
6,009
5,723
2,586
3,137
286
6,740
6,429
2,823
3,606
311
8,850
8,516
2,990
5,526
334
9,781
9,454
3,166
6,288
327
9,708
9,351
2,778
6, 573
357
396, 558
68, 616
486, 368
79, 672
528, 110
91, 127
540, 575
86, 366
7,786
6,072
6,063
1,714
6,726
4,958
4,952
1,768
6,968
4,768
4,737
2,200
745
745
723
723
707
707
do
-do
do -
27, 938
15, 941
11, 997
Truck trailers production, total
Complete trailers^
Vans
- -- -All other o"
Trailer chassis
- - --
do
do
do
do
do
Registrations:
New passenger cars
New commercial cars
do
do
-
359
549, 677
531, 544
93, 443
82, 433
566, 320
545, 961
134,129
122, 043
-
339
633
971
754
787
486, 071
467, 440
96, 740
86,212
Exports, total 9
.
Passenger cars 9
Trucks" and busse^ 9
141
189
596,
577,
126,
114,
r
407
513,457
501,055
344
496
288
393
361
320
475, 289
465, 737
98, 051
86, 919
528, 088
516, 257
91, 955
79, 541
378, 406
369, 994
73, 710
64, 781
387, 844
371, 844
94, 652
80, 224
453, 378
433, 876
96, 167
83, 563
24, 656
11, 862
12, 794
22, 881
10, 455
12, 426
19, 823
8,951
10, 872
23, 557
10 040
13 517
21. 578
10 884
10 694
29, 700
16 448
13 252
9,285
8,965
2,526
6,439
320
9,703
9,498
2,629
6,869
205
9,906
9,708
2,281
7,427
198
8,366
8,194
2,608
5,586
172
7,867
7 673
2,538
5,135
194
5,616
5 219
2 316
2,903
4 724
4 585
1,899
2,686
139
165
542, 193
77, 199
533, 783
76, 161
502, 430
76, 673
453, 806
78, 319
504, 697
82, 661
450 311
72 596
413 937
68' 659
340 788
60 706
369 592
60 848
7,080
4,313
3,959
2,767
7,066
4,029
3,574
3,037
7,096
4,823
4,376
2,273
6,001
3,718
3,574
2,283
6,666
4,305
3,675
2,361
8,963
5,636
5,631
3,327
6,574
4,173
3,912
2,401
4,752
3 169
2,873
1 583
5 101
3 815
3,658
1 286
4,041
3,014
2,947
1,027
692
692
843
688
822
667
780
625
759
600
715
560
736
422
712
398
686
384
690
405
29
17
40
22
101, 478
89, 911
r
r
397
4 667
RAILWAY EQUIPMENT
American Railway Car Institute:
Freight cars- Shipments, total
numberEquipment manufacturers, total
do
Domestic
- __ _ __do
Railroad shops domestic
do
Passenger cars, equipment manufacturers:©
Orders, unfilled, end of month, total*
do
Domestic
- - _do_ __
Shipments total
-- -do _
Domestic
do
17
17
39
39
37
37
27
27
26
26
37
37
42
34
34
42
46
42
44
44
27
26
Association of American Railroads:
Freight cars (class I), end of month:§
Number owned
thousands
Undergoing or awaiting classified repairs
thousands-Percent of total ownership
Orders, unfilled.—
number._
E quipment manufacturers
do
Railroad shops
-do
Locomotives (class I), end of month:
Steam, undergoing or awaiting classified repairs
number _.
Percent of total on line
1, 762
1,764
1,765
1,767
1,767
1,769
1,771
1,772
1,775
1 777
1 776
1 777
1 775
89
5.1
63,711
34, 891
28, 820
89
5.0
59, 354
32, 732
26, 622
88
5.0
54, 333
30, 141
24, 192
89
5.0
50, 717
29, 351
21, 366
91
5.2
45, 804
26, 880
18, 924
92
5.2
40, 119
22, 908
17, 211
92
5.2
40, 224
21, 497
18, 727
94
5.3
37, 554
20, 651
16,903
90
5.1
33, 159
15, 405
17, 754
92
5 2
30, 703
13,911
16 792
88
4 9
27, 678
12, 256
15 422
91
51
23, 537
9,153
14 384
94
53
20, 548
6,784
13 764
1,835
12.1
1,784
12.1
1,656
11.5
1,547
11.1
1, 437
10.6
1,315
10.0
1,336
10 4
1,216
9.7
1,223
10 0
1,222
10 2
1,232
10 5
1,215
10 6
1,210
10 8
Diesel-electric and electric: Orders, unfilled
number of power units. _
1,057
843
861
675
564
511
405
545
628
659
571
486
521
40
47
40
45
39
61
46
48
37
63
46
37
779
743
36
832
794
38
732
690
42
677
640
37
945
902
43
673
591
82
626
576
50
797
735
62
877
845
32
677
632
45
673
630
43
523
485
38
Exports of locomotives totalt
--
do
INDUSTRIAL ELECTRIC TRUCKS AND
TRACTORS
Shipments total
Domestic
Export - --
-
number
do
do
r
Revised.
» Preliminary.
^Revisions for 1952 are shown in the August 1953 SURVEY.
9 Data exclude all military-type exports. Scattered monthly revisions for 1952 for motor vehicles will be shown later.
cfRevised beginning 1952 to include production of converter dollies; data as revised are comparable with figures through 1951 shown in the 1953 issue of BUSINESS STATISTICS.
for January-September 1952 are shown in the December 1953 SURVEY.
©Excludes railroad shops except when noted.
*New series; monthly data prior to 1953 will be shown later. Unfilled orders, end of January 1953 (number): Total, 751, domestic, 751.
§ Not including railroad-owned private refrigerator cars.
^Revised exports for May 1952, 41 locomotives.
467
437
30
Revisions
U. S. G O V E R N M E N T P R I N T I N G O F F I C E : 1934
•INDEX TO MONTHLY BUSINESS STATISTICS, Pages S1-S40Pages marked S
38
24
7,8
I^P.*
10
tnplo:
e. — - 15,21,22
2,11,12,13,14,40
22
Airline operationsw.-.^.._.
______
24
Alcohol, denatured and ethyl
_ _ _ _ _ 2, 6, 8, 27
Alcoholic beverages----33
----------'_______-—
25
Animal fats, greaB-es, and oils
11, 13, 14, 15,34
'
._ 5?, 3, 4, 5, 6, 8, 9, 11,12, 14,15, 38
lit products— -.
36
Automobiles—.. 2,3,8, 9,11,12,13,14, 16,18, 21, 40
Bakery products
2,11,12,13
Balance of payments-_
20
Banking
*
- . —
_ _ _ _ _ _ _ 15,16
Barley
.._— 28
Barrels and drums.
—
—
32
Battery shipments.
___„.____._
34
Beef and veal—.,———
—
29
Beverages.
2,3,4,6, 8,11,12,14, 27
Bituminous coal
11,13,14,15,34,35
Blasfc furnace^ iteel works, etc
11,12,13,14
Pages marked 3
Food products--.,,,..-,2,
3, 4, 5, 8» 9, 11, 12, 14, 18, 27, 28, 29, 30
Foreclosures, real estate,. _ . „ _ _ _ _ .
__
._7
Foreign trade indexes, shipping weight, va^ue
by regions, countries, economic classes, and
commodity groups-,-,.-.......™.,.-,—..._ 21, 22
Foundry equipment__ .. _ _ „ — __ — _ — _. „ _
34
Freight carloadings_-_._..-„_„_._„.„_____„„
23
Freight cars (equipment)....—...
.
40
Freight-car surplus and shortage..-,---..-,
__
23
Fruits and vegetables...........
.. 5, 21, 27
Fuel oil__- ._ __ . __
35
Fuels-.
_._
____._..
5,34,35
Furs__
——___.
22
Furnaces , _ _ _.
,_,
.. „„
„.____
34
Furniture_-___-_,...__,.. 2, 3, 5, 8, 9,11, 12, 13, 14,16
Gas, prices, customers, sales, revenues___-,___ 5, 26
Gasoline-__„_____
8, 9, 36
Glass products (see also Stone, clay, etc.)-__ _ 2, 38
Generators and motors
_ _ _ _ _ _ „ , ,__„. — —
34
Glycerin.. _ _ _ _ _ — _ _ .
24
Gold—. — — — — — — 18
Grains and products.. _ _ _ _ _ _ _ _ _ _ _ _ _ 5,19, 21, 23, 28
Grocery stores. — — — — ___ — — — .
9
Gross national product.. _„_„.,
1
Gypsum and products..
6,38
Blowers and fans
—
34
Bonds, issues, prices, sales, yields
__..„
19
Heating apparatus.__.__..__ 6, 11, 12, 13, 14, 33, 34
Hides and skins
_ _ . _ _ - _ - _ _ _ _ . _ _ _ _ . _ . 5, 22,30
I—I. —— I — I — — I—
33
Highways and roads __ _ . _ _ _ _ _ _ _ _ . _ _ . _ 6,7,12,15
S™?H
38
Hogs
—
—
—
—
—
— — 29
Brokers' loans and balances
—
16,19
Home Loan banks, loans outstanding-______.
7
Btrildingcoitp,.*
^
Home
mortgages..
„,
,___
7
Building and construction materials-_-.-_... 7,8,9
Hosiery _ _ — _ _
...
„_„_
38
3
Business sales and inventories
Hotels.
—
.
.
.
.
_.
11,13,
14,15,
23
4
Businesses operating and business turnover—
Hours of work per week
.____
12, 13
27
Housefurnishings--..
,_
... , _ . _ _ _ _ _ 5, 8, 9
33
Household appliances and radios.. _ _ _ _ _ _ _ . 5, 8, 9, 34
Cans (metal), closures, crowns
23
CWloadiiiiju .»'-»•*-'- »-•.--..-«•-Imports (see also individual commodities)- 20, 21, 22
—
29
Cattle, ariJTcwiiw*-"—-•
Income, personal_,._..___...,.____________
1
- 6,38
Cement and concrete products
Income-tax
receipts _ _ _ _ _ „ „
_,
_
16
_„ „_!***)•» products
5,11,12,14
Incorporations,
business,
n
e
w
_
_
_
_
_
_
...
4
Chain-store sales (11 stores and over only)- ._
9
Industrial production indexes- _ _ . . _ „ _ _ _ „ » , _ _ _ _
2,3
Cheese
—;—,.—
—.
— 27
Instalment credit--,_„_-„„_„„____
16
Chemicale..__.___- 2, 3, 4, 5,11,12,14,15,18, 21, 24
Instalment
sales,
department
stores_..___
Cigars and cigarettes.-~
... 6,30 Instruments and related products- _. 2,11,12, 13,10
14
Civilian employees, Federal
_
12
Insulating rnaterials«-___._„»__„_„_
,___..
34
Clay products (see also Stone, clay, etc)
2, 6, 38
Insurance, life.
_— — _— — — — — —
17
Interest and money rates
...._ _ _ _.
16
Coal .
-.-,- 2, 3,11,~13, 14,15,21, 23, 34^35
International transactions of the U. S__—_ 20, 21, 22
Cocoa
_ _ . . . . . 22,29
Inventories, manufacturers' and trade
, 3, 4, 9, 10
G0ffe«I —"I—I
- 22, 29
Iron and steel, crude and manufactures
2,
Coke.*
,
.
_- 23, 35
6, 18, 21,32,33
Commercial and industrial failures.___. — — .
4
Kerosene. „_,„»
____._.
35
Communications.11,13,14,15,18,19, 20, 23
Confectionery, sales
_
——
29
Labor disputes, turnover.
13
Construction:
Labor force.._.
10
Contracts awarded..
_
...
6
Lamb and mutton...__._
29
Colts
—
7
Lard-.
.
.
.
.
.
.
.
29
Dwelling units.
_.___
7
Lead..
33
Employment, earnings, hours, wage rates-11,
30,31
12, 13, 14, 15
Linseed
oil
_
25
Highway--.
_
_ — 6, 7,12
Livestock-„__
...
2, 5, 23, 29
New construction, dollar value
....
6
Loans,
real
estate,
agricultural,
bank,
brokers'
16
Consumer credit
(see also Consumer Credit).. ... 7,15,16, 17,19
1,8
Consumer
Locomotives.. _. .
. — ._ — — — —
40
5
C
Lubricants
— — .__.
, _ . _. . _ 35
22,33
Copper.. „„—.«.*
Lumber
and
products
_
_
_
„
_
„
_
_
—
.
_
_
_
.
_
_
_
_
_
2,
25
' Copra and: coconut oil.
3,5,8,9,11,12,13,14,18, 31,32
19,28
Cam:.-..™.,.
Machine activity, cotton._ _ _
....... .__
39
(see Consumer price
Machine tools
.. ._.—
._-_
34
.—-_,-_,..--,•.—-.___-—______•___..
Machinery
2, 3, 4, 5, 11, 12,13, 14, 18, 21,34
Cotton, raw and manufactures ----- .. _ 2, 5, 6, 21, 39
Magazine
advertising-._
_,
,_
—
—
__
—
—
8
Cottonseed, cake and meal, oil ........ _ _ ---- 25
Mail-order houses, sales _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ 9,10
Crcd£t*tbate and intermediate-term ------- _
16
Manufacturers' sales, inventories, orders. ._
3,4
2 5 25 27 28 30 39
CropiL..*.v-*^
___- ......... » » > « > ' 2,3
Manufacturing production indexes _ _ _ _ _ —. _ _ 2,3
Crude oil and natural gas ......... ----- ....
Manufacturing production workers, employCurrency in circulation ........ . ..... _ _ _ _ _ _
18
ment, payrolls, hours, wages , _ _ 11,12,13, 14, 15
Meats and meat packing,,.._______ 2, 5, 11, 12, 14,29
Dairy products...
................
5, 11, 12, 14, 27
Medical and personal care5
Debits, bank... ..... to ........ _ ..... ------ 15
Metals.— ..— 2, 3, 4, 6, 11, 12, 13, 14, 15, 18, 32,33
Debt, United States Government . — _ _ _ _
17
Methanol...
_ _ _ . ._____._„
__
24
Department stores_________. ----- — ---- - 9, 10, 16
Milk
__... — _
___ — — -_.-.
27
Deposits,
fetf-fc^
............
-----------15, 16, 18
Minerals and mining-.—____ — 2, 3, 11, 13, 14, 15,20
Disputes, industrial
................
.......
13
Monetary statistics.
___„_„
18
Distilled ij4frit«.:-_ -..._._____________.___...27
Money orders
_._____.
.
._
8
Dividend paymentB and rates ------- ...... 1, 18, 20
Money supply___
_._._
_____-.-,__.._
18
Drug-store sales- --------- . ............. —
8,9
Mortgage loans.
7, 15, 16, 17
Dwelling unit*,-- ..... - ........... — ------ 7
22
Motor carriers
______________
Earnings, weekly and hourly ..... . ..... - 13, 14, 15
Motor fuel
.
___„
.
36
Eggs and poultry _ _ ---------- . --------- __ 2, 5, 29
Motor vehicles-..
3, 5, 8, 9, 18,40
Motors, electrical
___„_„_
— .__
34
Electric pom*-.-,.-."
................
_..-„._. 5, 26
Electrical machinery and equipment ------ - _ .
2,
National income and product- _
_ _.— _ _ _
1
3, 4, 5, 8, 11, 12, 13, 14, 18, 21, 34
National parks, visitors....
__-„_„_„._.
23
Employment estimates and indexes ------- 10,11,12
Newspaper advertising. _
„__„„__ —
8
Employment Service activities________.. ---- 13
Newsprint—. — — —
. _ _ _ _ — _ 22, 37
Engineering construction .._ ....______. . _ . ____ 6
New York Stock Exchange, selected data____ 19, 20
Expenditures, United States Government _ _ __
16
Nonferrous metals
2, 6, 11, 12, 13, 14, 18, 22, 33
25
-^*.-, ---- .. ....... ---------Noninstalment credit..— _ — _ _ _ _ _ _ — _ _ _ _ _
16
Exports (see also individual commodities) — 20,21
Expreaii operations.-- ------ ......... —
22
Oats_____ — _ _ — —
_——_—__ ———_
28
Oil burners
_—
__. .
— — _.
33
Failures, industrial and commercial. .......—
4
Oils
and
fats,
greases..
„
5,
25,
26
Farm income, marketings, and prices____.....
2,5
Oleomargarine-—___
_
26
Farm wagef— -.*. — -.„ — -— ------ .-------15
Operating businesses and business turnover _ _
4
Fatsand oils, greases-.- ------ ......... ._ 5, 25,26
Orders, new and unfilled, manufacturers'
_
4
Federal Government finance ---- ........... .
17
federal Reserve banks, condition of.
........
Paint and paint materials.----.......
_. 5, 26
15
Federal Reserve reporting member banks ----Panama Canal t r a f f i c ™ . _ _ _ _ _ _ _ > _ . „
23
16
Paper and pulp-.___. 2,4, 6,11,12,14,15, 22, 36, 37
5, 24
Paper and products—
---.
,_.
2,
34
3, 4, 6, 11, 12, 14, 15, 18, 36, 37
7
Fife tost**-,
Passports issued... ....... _ _ _ _ _ _ _ _ — _ _ _ _ _
23
FitJ* oils and fish..
25, 29
Payrolls, indexes
^._____..
12
25
Personal consumption expenditures
.. 1,8
31, 32
Personal income
_^
1
Flour, wheat-.
28
ttH^'fc'B^W1
W*?1 <coated)
>
Pages marked S
Personal saving and disposable income,,
._
1
Petroleum and products.
2,
3, 4, 5, 11, 12, 13, 14, 15, 18, 21, 22, 35, 36
Pig iron ,
.
,_..„„__..„
, _ . _ _ 32
Plant and equipment expenditures
_
1
Plastics and resin materials..
,
26
Plywood™_ M _.«._-_«^
_^
_— — _____..
31
Population., _ „ _
__„„
_.._...__..
,_
10
Pork.
._
.__
29
Postal savings-.,.-___„____.„„
.____._
16
Poultry and eggs . _-..__„_
2, 5, 29
Prices (see also individual commodities):
Consumer price index.. .. .
5
Received and paid by farmers_ — - _ _ —
5
Retail price indexes.,,____. —______
5
Wholesale price indexes5, 6
Printing and publishing, _ _ _ _ 2, 3, 4, 11, 12,14, 15, 37
Profits, corporation.
„ _ _ 1, 18
Public utilities— _ 1, 6,11,13,14,15,17,18,19, 20, 26
Pullman Company...
.
23
Pulp wood
._ _
.,_ — . —
36
Pumps___ _ _ _ . _ _ . _ ._
,.__.__
,_
34
Purchasing power of the dollar
—_ _ _ .
6
Radio and television
5, 7, 8, 34
Railroads, employment, wages,financialstatistics, operations, equipment
11,
12, 13, 14, 15, 17, 18, 19, 20, 22, 23, 40
Railways (local) and bus lines.
11,13,14,15
Rayon and rayon manufactures._. _ . _ _ ^
39
Real e s t a t e _ _ _ _ _ _ . _ _ _ _ _ _ _ _ _ _ _ _ . _ — — 7,16,17, 19
Receipts, United States Government...
16
Recreation._.—____.__
5
Refrigerators, electrical
__. — _ _ „
34
Rents (housing), index.. ...
.
_ _ _ ^ ,.
5
Retail trade, all retail stores, chain stores (11
stores and over only), general merchandise,
department stores-.--... 3, 4, 8, 9,10, 11,13,14, 15
Rice—___.
_„___—
28
Roofing and siding, asphalt._-_„__._
36
Rosin and turpentine
.
.
... 24
Rubber, natural, synthetic, and reclaimed
tires and tubes.
_____„______,.
6,22,37
Rubber products industry, production index,
sales, inventories, employment, payrolls,
hours, earnings
..__ — _— 2,3,4, 12, 14, 15
Rural sales. — —
___„_.
.__
10
Rye_.
__ — — ___ —
28
Saving, personal.
. _ _ _ _ 1
Savings deposits
„ _ . _ _.
____„„_„_
16
Securities issued..
....
. — ___ — .
18, 19
Services......„_-___
.._. 4, 5, 8,11,13,14, 15
Sewer pipe, clay.........
._
38
Sheep and lambs
._ . _ _ _ _ .
29
Ship and boat building...
. —— 11, 12, 13, 14
Shoes and other footwear
..— 8, 9, 12,14,15, 31
Shortening.
,
... .... 26
Silk, imports, p r i c e s . _ _ _ _ _ _ _ . _ _ _ .
.
._ 6,39
Silver..._—____ — — _ — —
18
Soybeans and soybean oil—__._
.....
25
Spindle activity, cotton
.....
.
39
Steel ingots and steel manufactures (see also
Iron and steel)
——________
2,32,33
Steel s c r a p - _ _ _ _ . _ _ .
32
Stocks, department stores (see also Inventories). ...
.
_— _ — _ _
10
Stocks, dividends, listings, prices, sales, yields.
20
Stone and earth minerals-. , _ _ _ ... 2,3
Stone, clay, and glass products
______
2,
3,11,12,13,14,18,38
Stoves.
... — —
... 34
Sugar— — — — — — 22,30
Sulfur. _ . . _ _
_ _ _ „ _ ...
25
Sulfuric acid
. — _ — — __ — — — __
24
Superphosphate. _ _ _ _
~.— _ _ _ .
__
24
Tea- . _ _ _ _ _ _ _ - _ _ _ . . _ . - - _ - „ _ _ - _ - , _ _ _
30
Telephone, telegraph, cable, and radio-telegraph carriers..-.,.
11, 13,14, 15, 18, 19, 20, 23
Television.--__„___
_ 7,34
Textiles-.-_ 2, 3, 4, 6, 11, 12,14, 15, 18, 21, 38, 39, 40
Tile
.
—
38
Tin-___
. ._
.-_.__-___„_.__
22,33
Tires and inner tubes
„____„.
6, 12, 14, 15, 37
Tobacco™
2,3,4,5,6,8,11, 12,14,15, 21,30
Tools, machine
._._
_ _ _ _ 34
Tractors
^_-__.__„___
34
Trade, retail and wholesale. 3, 4, 8, 9, 10, 11, 13, 14, 15
Transit lines, local-.._
22
Transportation, commodity and passenger. 5, 22, 23
Transportation equipment...... —
2,
3,4,11,12,13,14,18,40
Travel
.__
-______ —___ ________
23
Truck trailers—-_.._ —
_____
_ _ _ _ 40
Trucks.
——
40
Turpentine and rosin_______.^
24
Unemployment and compensation..
10, 13
United States Government bonds.__._ 16, 17, 18, 19
United States Governmentfinance_ .
16,17
Utilities—- 1, 5, 6,11,13,14,15,17,18,19, 20, 26
Vacuum cleaners.
.
,
——
34
Variety stores.... — — ——
.....
9
Vegetable oils——— — —
25, 26
Vegetables and fruits....._ — — 2, 5, 21, 27
Vessels cleared in foreign trade......
—
23
Veterans' unemployment allowances.--.
13
Wages, factory and miscellaneous.-.—... 13,14,15
Washers..
———
. 34
Water heaters. — — — — — ......
34
Wax.. ——. — -—
36
Wheat and wheat
flour.
.....
19, 28
Wholesale price indexes....___.
~-_
5, 6
Wholesale trade.........
. 3,4,10,11,13,14, 15
Wood pulp— — — — — —
-.---.
36
Wool and wool manufactures.-^
~— 6, 22, 39, 40
Zinc
...
.
— 33
UNITED STATES
GOVERNMENT PRINTING OFFICE
PENALTY FOR PRIVATE USE TO AVOID
PAYMENT OF POSTAGE, $3OO
(GPO)
DIVISION OF PUBLIC DOCUMENTS
WASHINGTON 25, D. C.
OFFICIAL BUSINESS
First-Class Mail
foreign
investment^
THE COMPLETE RESULTS OF THE FIFTH PERIODIC CENSUS OF
AMERICAN DIRECT INVESTMENTS ABROAD . . .
. . . a report
presenting information basic to the making
of Intelligent decisions regarding the
Investment of private capital abroad.
A WEALTH OF DETAIL ON OUR EXISTING INVESTMENTS AND OUR INVESTORS' EXPERIENCE
WITH THEM—INCLUDING EXTENSIVE BREAKDOWNS OF THE INCOME AND CAPITAL MOVEMENTS
BY COUNTRY AND INDUSTRY, AND DATA ON LOCAL ASSETS, FOREIGN PARTICIPATION, AND
FOREIGN INCOME TAXES PAID—ROUNDS OUT THE INTERIM ESTIMATES REGULARLY PUBLISHED
IN THE SURVEY OF CURRENT BUSINESS.
available from
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