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AUGUST 1967 / VOLUME 47 NUMBER
8
SURVEY OF CURRENT BUSINESS
CONTENTS
U.S. Department of Commerce
THE BUSINESS SITUATION
Alexander B. Trowbridge / Secretary
Summary
1
Recovery in Housing Activity
3
National Income and Product Tables
6
William H. Shaw / Assistant Secretary
for Economic Affairs
Office of Business Economics
George Jaszi / Director
Morris R. Goldman Louis J. Paradise
Associate Directors
ARTICLES
Murray F. Foss / Editor
The Impact of Monetary Stringency on
Business Investment
10
Personal Income Advance Slows in Nearly All Regions
in Early 1967
28
Leo V. Barry, Jr. / Statistics Editor
Billy Jo Hurley / Graphics
STAFF CONTRIBUTORS TO THIS ISSUE
CURRENT BUSINESS STATISTICS
General
S1-S24
Industry
S24-S40
Subject Index (Inside Back Cover)
Business Review and Features:
David R. Hull, Jr.
Leo Bernstein
Lawrence V. Seeborg
Articles:
Jean Crockett
Irwin Friend
Henry Shavell
Regional Economies Division Staff
Robert B. Bretzfelder
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the BUSINESS SITUATION
J. HE somewhat faster pace of economic activity that became apparent
toward the close of the second quarter
was confirmed by developments in
July. The most significant of these
was the upturn in industrial production
after a half year of decline. Personal
income increased substantially for the
second month in a row as nonfarm
establishment employment rose to a
new high and the workweek lengthened
slightly in most industries. The rise
in the demand for labor brought about
a small decrease in the unemployment
rate, although it remained fractionally
above the second quarter average.
Consumer spending, which showed
a noticeable pickup from the first
to the second quarter, continued to
move ahead. The advance report on
retail trade indicates a rise in July
after a sizable gain in June. Rising
retail sales have been accompanied by
declining inventories; at midyear, retail
stocks (chiefly durables) were almost
$1 billion lower than at the start of
1967.
President's tax requests
Early in August, the President sent
Congress a number of revenue-raising
proposals, the most significant of which
were those for temporary income tax
surcharges—10 percent on personal tax
liabilities effective October 1, 1967, and
10 percent on corporate tax liabilities
retroactive to July 1, 1967. Both surcharges would remain in effect until
mid-1969 or as long as the war in Vietnam required higher revenues. In fiscal
1968 these surcharges would add an
estimated $6.3 billion to administrative
budget receipts.
Other tax measures requested were:
retention of the 7 percent factory excise
tax on new cars and the 10 percent
excise tax on telephone service, both
of which were scheduled to be sharply
reduced next April 1, and a further
speedup in corporate income tax
payments beginning January 1, 1968.
Congressional hearings on the tax
proposals are presently underway.
Industrial production rises
Industrial production rose two-thirds
of 1 percent from June to July, for the
first seasonally adjusted increase since
last December. Manufacturing output
was bolstered by a rebound in the electrical equipment industry, after a
strike had depressed activity in June,
while mining output increased because
of sharply higher crude oil production
after the Middle East crisis in June.
Among most durable manufactures,
increases were relatively small but
appeared to be widespread. Iron and
steel output showed a small rise and
production of fabricated metal products
increased slightly; gains of approximately 1 percent were reported for
nonelectrical machinery and transportation equipment. In the electrical
equipment industry, production rose
3 percent, the same percentage as the
June decline. Nondurable manufacturing output was about unchanged from
the low rates prevailing in May and
June.
month. However, payments were bolstered by a marked step-up in construction payrolls, which resulted from
higher employment, a longer workweek,
and increased wage rates.
Other incomes generally showed fairly
large increases in July. Property in-
CHARV I
Change in Nonfarm Business Inventories
Inventory investment fell to almost
zero in the second quarter...
Billion $ (GNP basis)
20
TOTAL
as manufacturers continued to slow
down the rate of accumulation...
15
MANUFACTURING
Income and employment higher
Personal income in July rose $4%
billion to a seasonally adjusted annual
rate of $627 billion. Payroll increases
last month were generally sizable although not quite as large as in June;
total wage and salary disbursements
rose $3 billion as compared with $3.7
billion the month before. Most other
types of income expanded more rapidly,
and the overall advance matched the
June rise.
Gains in manufacturing and service
industry payrolls during July were
only half as large as in the previous
and trade firms reduced stocks further
10
TRADE
-5
1964
65
66
1 2 3 4
1 2
1966
1967
Quarter)/, Seasonally Adjusted
at Annual Rates
U.S. Department of Commerce, Office of Business Economics
SUEVEY OF CUKKENT BUSINESS
comes as a group—rents, dividends,
and interest—rose $0.8 billion as compared with $0.4 billion in June, and
transfer payments, which changed little
in June, advanced in July.
Seasonally adjusted nonfarm payroll
employment increased in all major
industries except manufacturing from
June to July. Although three-fourths
of the rise of nearly 200,000 workers
occurred in services and government,
gains were also reported in construction
and retail trade. Manufacturing employment, which rose in June after
four straight monthly declines, dropped
again during July as a result of equal
cutbacks in durable and nondurable
goods establishments.
In durable manufacturing, the employment reduction reflected, in part,
work stoppages in shipyards and an
early shutdown of some auto assembly
lines for model changeovers. This decline was partly offset by increased
employment at the electrical equipment
plants that had been strikebound in June.
Seasonally adjusted hours of work
during July rose a little in manufacturing as an increase in durable
goods more than offset a decline in
CORPORATE PROFITS
Changed little in second quarter
With dividends higher, undistributed profits declined
Billion $
100
CORPORATE PROFITS, BOOK VALUE
Total
\_
80
, „*-,
.*'JS ofits Ti
60
—1
—
11', 4 i!
i*"-'
40
20
—
[ ividenc s
—
--
—
—
Und stribute d F rofi 5
1964
65
66
1 2 3 4
1966
1 2
1967
Quarterly, Seasonally Adjusted
at Annual Rates
U.S. Department of Commerce, Office of Business Economics
nondurables. In mining, construction,
and trade, the average workweek was
also somewhat longer.
Revised second quarter GNP
August 1967
The sharp reduction in the rate of
inventory growth plus the substantial
increases in final sales so far this year
have put a halt to the steep rise in the
ratio of nonfarm stocks to final sales.
Through 1964 and 1965, the ratio was
quite steady, ranging from 21.5 percent
to 21.8 percent. It rose above 22 percent in mid-1966 and by the first quarter of this year reached 22.9 percent.
In the second quarter, the ratio edged
down to 22.7 percent. As of mid-1967,
most of the inventory excess appeared
to be concentrated in manufacturing,
mainly nondefense durables, and to a
lesser extent in wholesale stocks; retail
inventories now appear to be in good
shape.
The revised estimate of GNP for
the second quarter—$775 billion at
a seasonally adjusted annual rate—
was essentially the same in the aggregate
as the figure published last month.
The rise of $8% billion from the first
quarter, a little more than 1 percent, was
divided about equally between increased
physical volume and higher prices.
On the basis of more complete data,
the estimate of second quarter inventory accumulation was lowered;
this change was offset by upward
revisions, mainly for personal consumption expenditures and residential Little change in profits
construction. With personal consumpThe modest second quarter pickup
tion $9% billion higher and dispos- in economic activity, which followed the
able personal income up $7% billion slowdown in the January-March quarin the second quarter, the personal ter, was accompanied by little change
saving rate declined to 6% percent. in corporate profits. According to preAlthough still high as compared with liminary estimates, corporate profits
earlier periods, it was well below the (as measured in the national income and
very high rate of 7% percent in the product accounts) were at a seasonally
adjusted annual rate of $78X billion in
first quarter.
the second quarter, up $K billion from
Inventory correction continues
the first. In the first quarter, corporate
The inventory correction proceeded profits had fallen by $6K billion; this
more swiftly in the second quarter was one of the largest declines in profits
than the preliminary estimate pub- on record and reflected both a cut in
lished last month indicated. Nonfarm profit margins and a decrease in the
inventory accumulation in the second volume of corporate output. In the
quarter has been revised to a seasonally second quarter, margins stabilized as
adjusted annual rate of $% billion. unit labor costs, which had risen
This was a decrease of $6% billion steadily over the past year, flattened out.
Second quarter book profits (which
from the $7% billion rate of accumulation in the first quarter, which in turn include gains or losses due to the difwas $11% billion below the $19 billion ference between the replacement cost of
goods taken out of inventory and their
rate in the final quarter of 1966.
In the second quarter, both durable recorded acquisition cost) rose $% biland nondurable goods manufacturers lion to an annual rate of $79% billion
continued to add to stocks, but only (chart 2). Corporate profits taxes, at
about half as much as in the first $32K billion, and profits after taxes, at
quarter; in June, inventories were liqui- $46^ billion, were little changed.
Corporations increased dividend paydated for the first time this year. Trade
firms reduced stocks much more in the ments by almost $1 billion to $23 bilsecond quarter than in the first. Re- lion in the second quarter. As a result,
tailers liquidated inventories by about undistributed profits were down by $K
equal amounts in both quarters, but billion to $23% billion. However, corwholesalers shifted from accumulation porate internal funds remained at the
to liquidation. The reduction in trade first quarter rate of $64% billion, as
stocks in the second quarter occurred capital consumption allowances rose by
in both nondurable and durable goods the same amount that undistributed
establishments (chart 1).
profits declined.
SURVEY OF CUKRENT BUSINESS
August 1967
Recovery in Housing Activity
Homebuilding has made a limited
recovery so far in 1967 after housing
starts fell to a 20-year low in the final
quarter of 1966. The rise has reflected
primarily the general easing in credit
conditions that started around the end
of last year.
Investment in private nonfarm housing rose to a seasonally adjusted
annual rate of $22.5 billion in the
second quarter of 1967. This was $1.6
billion above the level of the previous
quarter and was the largest quarter-toquarter advance since the beginning
of 1959. However, second quarter 1967
outlays for residential construction
were still down 11 percent, or nearly
$3 billion, from the year-earlier rate
and were 15 percent below the rate
in the first quarter of 1966, just before
the decline started. On a deflated basis,
the decrease over the year is even
larger because of the continuing advance of residential construction costs,
which have risen 5 percent since the
second quarter of 1966.
The revival of residential investment this year follows a pickup in
housing* starts that began in the final
months of 1966. Total private nonfarm starts, after falling from a seasonally adjusted annual rate of 1.4 million
units in the first quarter of 1966 to
less than 1 million in the fourth,
advanced to approximately 1.1 million
units in the first quarter of 1967 and
to 1.2 million in the second. In July,
starts rose 10 percent above June,
according to preliminary estimates.
Last year's credit squeeze on the
homebuilding industry was so severe
that residential starts failed by a substantial margin to meet new household
formation and replacement needs. According to estimates by the Bureau of
the Census, new household formation
has been running around 1 million per
year, and replacement needs may be
estimated at roughly two-thirds of a
million dwelling units. With the new
supply substantially curtailed, vacancy
rates both last year and this year have
declined considerably and are lower
than in any year since 1959.
Regional developments
Housing Starts Have Shown Some Recovery
This Year After Steep Decline in 1966
Million Units
2.0
1.5
1.0
.5 —
I960
62
64
66
1966
67
Quarterly, Seasonally
Adjusted at Annual Rates
Data: Census
U.S. Department of Commerce, Office of Business Economics
67-8-3
From the spring of 1964 to the first
quarter of 1966, national housing starts
fluctuated in a comparatively narrow
range of 1.4 million to 1.5 million units
(seasonally adjusted annual rate). Over
this period, housing starts rose in the
Northeast and North Central regions,
declined moderately in the South, and
fell considerably in the West. As mortgage and construction money became
progressively tighter in 1966, starts fell
noticeably in all parts of the country.
From the first to the fourth quarter of
1966, seasonally adjusted starts were
down one-fourth in the South arid about
40 percent in all other regions.
Homebuilding in 1967 has picked up
in all of the major regions, but the extent of the recovery has shown a wide
diversity. By the second quarter of
1967, the rate of seasonally adjusted
housing starts in the South and West
had recovered about two-thirds of the
ground lost from the first to the fourth
quarter of 1966; however, the North
Central region had regained only onehalf of its 1966 losses and the Northeast
one-third.
Single-family
tivity up
and multifamily
ac-
Both single-family and apartment
units were cut back sharply last year,
and both have participated in the recent
recovery. By the second quarter of this
year, the seasonally adjusted building
permit authorization rate for singlefamily homes was one-third above its
1966 fourth quarter low while that for
multifamily units was up approximately
55 percent. However, permits for both
types of housing were still below the
pace of the first quarter of 1966: 14
percent for single-family units and
almost 20 percent for multifamily.
The recovery of the single-family
market this year followed a substantial
cutback in building and sales during
1966. Seasonally adjusted monthly sales
of one-family homes, which had remained steady at approximately 50,000
units from 1963 through early 1966,
fell sharply in the spring and summer of
1966 as the supply of mortgage money
Table 1.—New Private Housing Starts,
by Regions
[Thousands of units]
U.S.
total North- North
Cen(private east
nontral
farm)
I960
1961
1962
1963
1964
1965
1966
1,230
1,285
1,439
1,582
1,502
1,451
1,142
221
246
264
261
253
270
207
292
277
290
328
339
362
288
South
429
473
531
591
582
575
473
West
309
316
378
431
355
266
198
Seasonally adjusted at annual rates
1966:
1st quarter
2d quarter
3d quarter
4th quarter
1,394
1,250
1,056
897
257
223
211
150
387
310
269
220
542
519
428
398
238
223
170
149
1967:
1st quarter
2d quarter ..
1,093
1,178
200
189
299
311
458
490
160
208
NOTE.—Regional figures include a small number of housing
starts on farms.
Source: U.S. Department of Commerce, Bureau of the
Census.
SUEVEY OF CURRENT BUSINESS
tightened, and by September of last
year had dropped to a rate of 30,000
units. After a modest upturn in the
closing months of 1966, sales picked up
sharply in the first 4 months of 1967
but edged down a little in May and
June (chart 4).
Throughout 1966 and the first 4
months of 1967, sales of one-family
houses by merchant builders (those
who build for sale) exceeded starts.
Consequently, the downtrend in stocks
of housing available for sale that began
in mid-1964 continued. Although stocks
rose slightly in May and June, the
number of homes available for sale at
midyear was 36,000 less than at the
CHART 4
New Single Family Housing
The ratio of houses-for-sale to sales
fell sharply after last summer
as sales of new houses rose . . .
Thousand Units
TOO
0
1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 In 1 1 1 In 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1
and the inventory of new houses-for-sale
continued to decline
300
250
200
150
1 1 1 1 1 1111 M1111111111 M IM111111111111111 11111111 M11111111
1963
1964
1965
1966
1967
Seasonally Adjusted
*Months of inventory at current sales rate.
Data: Census
U.S. Department of Commerce, Office of Business Economics
67-8-4
beginning of 1966 and, indeed, was about
as low as at any time since the present
series was started at the beginning of
1963. With the pickup in the pace of sales
in 1967 and the decline in stocks, the
inventory-sales ratio for single-family
units was 4.6 in June. Although this was
above the low April rate of 4.3, it was
considerably below the peak ratio of 6.7
reached in September 1966.
Although starts and sales by merchant builders have experienced pronounced fluctuations over the past
year, this has not been true of "custombuilt" single-family homes, which have
accounted for some 40 percent of the
single-family market. While singlefamily starts by merchant builders fell
about 35 percent from the first to the
fourth quarter of 1966 and rose by a
comparable percentage in the next
half year, starts of custom-built homes
have changed comparatively little. The
stability of the custom-built singlefamily market last year is probably
explained by the fact that people
who build their own homes depend
upon mortgage financing to a lesser
degree than do merchant builders.
It is interesting to note that sales
of mobile homes, which are by far the
major type of single-family units selling
for less than $12,500, were well maintained last year. In 1966, manufacturers
shipped 217,000 units, about the same
as in 1965; however, it should be
pointed out that sales showed large
year-to-year gains before 1966. The
mobile home industry was less adversely affected by stringent credit
conditions during 1966, probably because most mobile home purchases
are financed with a simple consumer
loan. These loans, with typically high
downpayments and 5- to 7-year maturities, were easier to obtain in 1966
than were low downpayment, longterm home mortgages.
Fluctuations appear to have been
greater for apartments than for singlefamily units in 1966 and the first
half of 1967. Multifamily permit authorizations (for five or more units),
which had remained at a relatively
stable seasonally adjusted annual rate
of about 450,000 units from mid-1964
through early 1966, fell 50 percent
from the first to the fourth quarter of
August 1967
1966 (seasonally adjusted) and then
rose 60 percent over the next two
quarters. The corresponding changes
for all single-family units were —36
percent and 35 percent. However, if
the large and relatively stable component of custom housing were deleted
from the single-family total, the differences between single-family and multifamily fluctuations would not appear
to be pronounced.
Decline in rental vacancies
Household formation has been
growing rapidly in the lower age
brackets, which typically rent rather
than buy. With last year's substantial
cutback in new starts, vacancy rates
for rental housing fell noticeably and
have continued to decline this year
(chart 5). The national rental vacancy
rate, as reported by the Bureau of
the Census, fell to 6.3 percent in the
second quarter of 1967, down from
6.6 percent in the first quarter and 6.8
percent a year earlier. From 1960
through 1965, second quarter rental
vacancies averaged 7.5 percent.
The annual FHA vacancy survey
of FHA apartment house projects
provides a partial view of the vacancy
situation in rental units. For all of
the FHA units covered in the survey,
the vacancy rate as of March 15, 1967,
was 5.6 percent, only slightly below
last year's 5.7 percent, but well below
the rates of 6.3 to 6.5 percent in 1964
and 1965. From 1966 to 1967, rates
Vacancy Rates-Rental Housing
• Vacancy rates in 1966 were the lowest since 1959
• Rates fell further in first half of 1967
Percent
101
1959
3
61
63
65
67
Quarterly
Data: Census
U.S. Department of Commerce, Office of Business Economics
67-8-5
August 1967
were lower in 36 of 51 FHA jurisdictions. On balance, rates over the
past year were lower in the South and
West, higher in the Southwest, and about
unchanged in the Northeast and Midwest.
Changes in mortgage markets
The dramatic reversal of last year's
restrictive monetary policy has been
the most important factor in the turnaround in housing activity. As the
Federal Eeserve System made the
transition to easier credit conditions,
interest rates declined and the flow of
funds to savings institutions and other
mortgage lenders picked up sharply.
In addition to the Federal Eeserve,
other Government agencies took steps
to encourage the recovery of homebuilding activity.
On two occasions, in February and in
March, the Federal National Mortgage
Association (FNMA) enacted 1-point
increases in the prices it paid to purchase existing FHA and VA mortgages
from private lenders. On March 6,
FNMA also announced that $380
million of special assistance funds had
been made available to purchase mortgages on low- and medium-priced
houses. This was in addition to the
$250 million released for similar purposes on November 29, 1966.
In January, the Federal Home Loan
Bank Board (FHLBB) announced that
approximately $1 billion in new advances would be made available to its
member institutions for expansion of
residential mortgage activity. This action was in contrast to last December's
$500 million advance, which was defensive in character and made primarily
to cover heavy net outflows of savings.
Along with a more liberal policy toward
advances, the FHLBB has twice reduced the minimum interest rate
charged on these advances. The current
5% percent rate is moderately below
the peak 6 percent rate established on
November 1 of last year.
During the first half of 1967, the
net savings inflow to savings and loan
associations, which typically account
for about 40 percent of all mortgage
lending, was three times as large as in
the first half of 1966, when sharply
reduced savings inflows resulted in a
pronounced cutback in mortgage ac
SUEVEY OF CUERENT BUSINESS
tivity. While a substantial portion of
this year's increase was used by member
associations to repay 1966 borrowings
from the Federal Home Loan Bank and
to increase holdings of cash and U.S.
Government securities, the mortgage
lending activity of these associations
also expanded significantly.
The generally easier credit conditions
near the end of 1966 were reflected in
some easing of the costs of mortgage
borrowing. Average interest rates on
conventional new home mortgages,
after reaching a peak of 6.49 percent in
December, declined to 6.29 percent in
June 1967; during this same period,
the rate for existing home mortgages
fell from 6.55 percent to 6.30 percent.
However, although mortgage rates declined steadily during the first 5 months
of 1967, there was no significant change
from May to June. This may have been
because the increase in interest rates in
CHART 6
Developments in Residential Financing
The flow of savings to lending institutions in the
first half of 1967 recovered sharply from the
depressed levels of 1966
Billion $
NET SAVINGS INFLOW
(All savings & loan
1st half
half
1964
1965
1966
1967
After declining in early 1967, yields on home
mortgages began to advance following a
rise in bond yields
Percent
7.0
YIELDS
1966
1967
Data: FHLBB, FHA & Moody's
U.S. Department of Commerce, Office of Business Economics
67-8-6
other credit markets in recent months has
dampened the decline in mortgage rates.
Although developments in the mortgage markets early this year gave rise
to expectations of a substantial recovery
in housing, the recovery was not yet
complete as of early summer, with
seasonally adjusted starts in July about
10 percent below the rate in the first
quarter of 1966. In fact, the extent of
further recovery in homebuilding this
year has become uncertain because of
recent financial developments.
The upturn in yields on long-term
and, more recently, on short-term securities in 1967 has lessened prospects for
a rapid return to low mortgage rates.
In July, long-term Government bond
yields were 4.86 percent, considerably
above the low of 4.40 percent reached
in January and actually above the 1966
peak of 4.80 percent reached in August.
Corporate AA bond yields averaged
5.72 in July, up from 5.18 in February.
Short-term rates have also started to
rise as the Treasury has attempted to
finance an expanding deficit in the
short-term money markets.
After declining from November 1966
to April 1967, yields on FHA-insured
mortgages rose in May and June.
However, this increase was not as
large as those in the bond markets,
and as a result, the spread between
yields in the two markets is once again
beginning to narrow. In the past, a
narrowing of this sort has been accompanied by a shift of funds by financial
institutions away from home mortgages
to more lucrative types of investments.
In 1966, the effect of this shift in relative yields was aggravated by substantial "disintermediation"—the process by which investors withdraw funds
from financial institutions and invest
directly in marketable securities in
order to take advantage of more favorable yields. A continuation of the
latest narrowing of the yield spread
could again result in shifts of funds
from mortgage to bond markets. However, there has been no evidence of significant disintermediation so far this
year. The net savings flow to savings
and loan associations, for example, was
near record levels in the first half of
1967. Preliminary data indicate that
the net inflow continued heavy in July.
SUEVEY OF CUERENT BUSINESS
6
August 1967
NATIONAL INCOME AND PRODUCT TABLES
1965
II
1966
1966
1967
1966
II
III | IV
1965
1966
II
1967
III
IV
Seasonally adjusted at annual rates
Seasonally adjusted at annual rates
Billions of 1958 dollars
Billions of current dollars
Table 1.—Gross National Product in Current and Constant Dollars (1.1, 1.2)
Gross national product..
_ _ _
Personal consumption expenditures Durable goodsNondurable goods
Services
_ _
Gross private domestic investment
Fixed investment.. . _
Nonresidential. _
Structures
Producers' durable equipment
Residential structures.
Nonfarm
Farm
. __
_
_ _
. _
Change in business inventories
Nonfarm
Farm
Net exports of goods and services. .
Exports
Imports
.
.
__-
-
_._.
Government purchases of goods and services. ..
Federal
National defense
Other
__ _ _ _
___ _
State and local
_. ___
_ _
683 9
743 3
725 9
736 7
748.8
762.1
766.3
775.1
616.7
652.6
645.4
649.3
654.8
661.1
660.7
664.7
433 1
465 9
458 2
461 6
470 1
473 8
480 2
489.7
398 4
418.0
416.2
415.2
420.4
420.4
424.2
430.6
66 0
191 2
175 9
70 3
207 5
188 1
71 6
203 2
183 5
68 2
207 1
186 3
70 9
209.5
189 8
70 6
210.3
192 9
69 4
214.2
196 6
72 5
217.2
200 0
66 4
178.9
153 2
71.3
187.7
159 1
73.0
185.8
157 3
69.3
187.7
158 2
71.9
188.8
159 8
71.1
188.4
160 9
69.7
191.8
162 6
72.9
193.6
164 1
107 4
118 0
115 2
118 5
116 4
122 2
110 4
105.1
98 0
105.6
104.0
106.5
103.6
108.4
96.9
91.3
94 5
93.1
93 0
91.2
90 2
90.9
98 0
104 6
105 3
104 5
104 9
103 7
103 3
104 6
89 1
93 0
71 1
25.1
46 0
80 2
27.9
52.3
78 3
28.3
50 0
78 7
27.5
51 2
81 2
28.2
53.1
82 8
27.7
55.1
81 9
27.7
54.2
81 5
26.3
55.2
66 0
21.9
44.1
72 8
23.6
49.2
71 8
24.2
47.5
71 7
23.4
48.3
73 6
23.7
49.9
74 2
23.0
51.2
73 0
22.9
50.1
72 6
21.7
51.0
27 0
26 4
5
24 4
23 g
5
27 0
26 5
5
25 8
25 3
'5
23.7
23 2
5
20 9
20 4
5
21 4
20 9
6
23.1
29 5
6
23 2
22 7
5
20.2
19 7
5
22.8
22 3
5
21.4
21 0
5
19.4
19 0
.5
17.0
16 5
.5
17.3
16 8
.5
18.3
17 8
.5
9 4
8 4
10
13 4
13 7
3
99
9 6
3
14 0
14 4
— 3
11 4
12 0
— 5
18 5
19 0
_ 5
71
7 3
_ 2
5
6
— i
88
79
9
12 6
12 9
— 3
9 5
9.2
2
13 4
13.7
_ 3
10 6
11.1
— 5
17 2
17.7
— 5
6 7
6.8
_ 2
.4
.5
6 9
51
61
5 4
4 6
4 3
53
5.3
6 0
4 4
5.4
4.8
4.1
3.2
4.1
4.1
39 1
32.2
43 0
37 9
42 0
36.0
42 5
37 1
43 7
39.0
44 0
39.7
45 3
39 9
45 1
39 8
37 5
31.5
40 8
36,4
40.3
34.9
40.4
35.6
41.4
37.3
41.2
38.0
42.4
38.3
42.3
38.2
136 4
154 3
146 5
151 2
157 7
161 7
170 4
175.0
114 3
124 5
119.9
122.7
126.6
129.1
135.5
138.7
66 8
50 1
16 7
77 0
60 5
16 5
72 1
55 1
17 1
74 9
58 4
16 6
79 5
63 0
16 6
81 5
65.6
15 9
87 1
70 2
16 8
89 5
72 5
17 0
57 8
64 7
61 2
63.4
66.4
67.8
72.3
74.4
69.6
77.2
74.3
76.2
78 1
80.2
83.3
85.4
56.4
59.9
58.7
59.4
60.1
61.3
63.2
64.3
Table 2.—Gross National Product by Major Type of Product in Current and Constant Dollars (1.3, 1.5)
Gross national product
Final sales
_ __
Change in business inventories
Goods output..
652.6
645.4
649.3
654.8
661.1
660. 7
664.7
774 6
.5
607 8
8.8
639.9
12.6
636.0
9.5
635.9
13.4
644.2
10.6
643.9
17.2
654.0
6.7
664.3
.4
388 1
392.1
330 0
353.7
347.9
351.0
354.7
361.1
356.6
359.5
380 9
7.1
391 6
.5
321 2
8.8
341.0
12.6
338 5
9.5
337.6
13.4
344.1
10.6
343.9
17.2
349.9
6.7
359.1
.4
161 1
148 3
12 8
153 9
150 5
3 4
155 5
156 0
— 6
136 3
129*8
6 5
150 0
140.6
9 3
147 5
140.5
7 0
147 3
138.0
9.3
150 8
141.6
9.2
154 2
142.3
11.9
146 6
143.6
3.0
148.3
148.9
-.6
226 1
224 5
1.5
230.6
224 9
5.7
234 2
230 5
3.7
236 6 193 7
235 5 191 4
11
2.3
203.7
200 4
3.3
200.4
198 0
2.4
203.7
199.7
4.1
203.9
202.5
1.4
206.9
201.6
5.3
210.0
206.3
3.6
211.2
210. 2
1.0
283 5
291 6
296 9
303 1
307 8
222 3
235 2
229 7
233 5
237 9
239.8
242.7
244.4
77 4
75 5
73 5
75 2
75 2
64 4
63.7
67.8
64.7
62.2
60.2
61.3
60.8
683 9
._
674 5
9.4
729 9
13.4
716 0
9.9
722 6
14.0
737 4
11.4
743 6
18.5
759 2
7.1
346 6
379 6
369 5
375 7
381 8
391 7
337 2
9.4
366 2
13.4
359 6
9.9
361 7
14.0
370 3
11 4
373 2
18.5
139 5
132 8
6 7
154 6
144 7
99
150 5
143 2
7 4
151 4
141 6
9 7
155 7
145 8
99
207 1
204 4
2.7
225 0
221 5
3.5
219 0
216 4
2.5
224 4
220 1
4.3
262 9
287 2
276 6
74 4
76 5
79 9
_ . _ _
Final sales
_ _ _ __
Change in business inventories
__ _
Durable goods
Final sales
Change in business inventories
Nondurable goods
Final sales
Change in business inventories
616 7
_.- -
.__
_
Services
Structures. _
743 3
725 9
736 7
748 8
762 1
766 3
775.1
Table 3.—Gross National Product by Sector in Current and Constant Dollars (1.7, 1.8)
Gross national product
Private
_
-
Business
Nonfarm
Farm
_.
.
Households and institutions
Rest of the world
General government
..
. ... .
683 9
743 3
725 9
736 7
748 8
762 1
766 3
775.1
616 7
652 6
645 4
649.3
654.8
661.1
660.7
664.
616 1
666 7
653 0
661 5
670 6
681 9
683 9
690 9
565 9
597 5
592 3
594 8
599 0
604.2
602.7
606.
593 4
569 8
23.6
642 4
617 6
24.8
629 4
603 3
26 0
637 6
612 8
24 8
646 2
621 6
24 6
656 9
633 0
23 9
658 7
635 1
23 6
665 3
642 0
23 3
547 8
524*2
23 6
578 9
556 4
22.4
574 0
550 8
23.2
576 3
554.4
22.0
580 2
558.0
22.2
585.1
562.7
22.4
583.6
559.9
23.7
586.
563.
23.
18.5
20.1
19 7
19 7
20 3
20 6
21 1
21 4
14 0
14 7
14 6
14.4
14.8
14.9
15.1
15.
41
4 0
4.3
4.0
4.
56 9
57.9
58.
4 2
67 8
4 2
76 6
39
72 9
4 2
75 1
41
78 2
4 4
80 2
41
82 5
4 1
41
84 2
50 3
4 0
55 0
38
53 1
54 4
55 8
SURVEY OF CURRENT BUSINESS
August 1967
1966
1965
1966
I
II
1966
1967
III
IV
I
II*
1965
1966
Seasonally adjusted at annual rates
Equals : Net national product
Equals: National income
Less: Corporate profits and inventory
valuation adjustment
Contributions for social insurance
"Wage accruals less disbursements
- -Plus: Government transfer payments
to persons
Interest paid by government
(net) and by consumers
Dividends
.. .. ..
Business transfer payments
Equals: Personal income
63.1
63.9
775.1
65.5
66.4
624.0 679.8 663.6 673.6 684.9 697 4 700.8
708.7
Less: Indirect business tax and nontax
62.2 65.1
liability
Business transfer payments
2.7
2.6
Statistical discrepancy
—2.0 —2.6
Plus: Subsidies less current surplus of
government enterprises
62.4
2.2
64.7
62.9 64.7 65.9 67.0 67.9
2.7
2.6
2.7
2.8
2.8
—.9 —2.2 -3.2 —3 8 —4.0
69.1
2.8
—3.1
2.3
2.0
562 4 616 7 600.3 610 4 622 1 634 1 636 4
641.9
1.2
1.4
2.0
2.7
IV
I
II*
Table 6.—National Income by Type of Income (1.10)
National income _ _
683.9 743.3 725.9 736.7 748.8 762.1 766.3
63.5
III
Billions of dollars
Table 4.—Relation of Gross National Product, National Income,
and Personal Income (1.9)
Less: Capital consumption allowances - 59.9
II
Seasonally adjusted at annual rates
Billions of dollars
Gross national product
I
1967
2.6
74.9
82.2
81.1
81.3
81.9
84.6
78.1
78.5
29 7
38 2
36.6
37.4
38 9
39 8
42 2
42 5
.0
.0
.0
.0
.0
.0
.0
.0
37.2
41.2
39.7
39.2
41.3
44.7
48.1
48.6
20.4
19.8
2.6
22.3
21.5
2.7
21.4
21 A
2.6
22.0
21.6
2.7
22.4
21.6
2.7
23.2
21.2
2.8
23.7
22.2
2.8
23.9
23.1
2.8
537 8 584 0 567 8 577 3 589 3 601 6 612 9
619.1
562. 4 616.7 600.3 610.4 622.1 634.1 636.4
-
Compensation of employees _ _
Wages and salaries
Private
Military
Government civilian
463.4
359.1 394.6 381.3 390.2 399.6 407.4 414.7
418.3
289.8 316.7 306.9 313.8 320.1 326.1 331.4
12.1 14.7 13.6 14.2 15.1 15.8 16.1
57.1 63.2 60.7 62.2 64.3 65.6 67.3
333.2
16.2
68.9
Supplements to wages and salaries- _
Employer contributions for social
insurance
34.9
41.1
39.5
40.5
41.6
42.7
44.4
45.2
16.2
20.3
19.6
20.0
20.6
21.1
22.2
22 3
Other labor income
Employer contributions to private pension and welfare funds
Other
18.6
20.8
20.0
20.5
21.1
21.7
22.2
22.9
15.5
3.1
17.3
3.5
56.7
59.3
60.0
59.3
59.2
58.6
57.8
57.8
Business and professional
Income of unincorporated enterprises
Inventory valuation adjustment
41 9
43 2
42.8
43.3
43 3
43.4
43.2
43.4
42.3
—.4
43.6
—.4
Farm..
Proprietors' income
14.8
16.1
17.1
16.0
15.9
15.1
14.6
14.3
Rental income of persons
19.0
19.4
19.2
19.3
19.4
19.6
19.8
20.0
Corporate profits and inventory valuation adjustment
74.9
82.2
81.1
81.3
81.9
84.6
78.1
78.5
76.6
83.8
83.7
83.6
84.0
83.9
79.0
79.2
31.4
45.2
19.8
25.4
34.5
49.3
21.5
27.8
34.5
49.2
21.4
27.8
34.5
49.2
21.6
27.6
34.6
49.4
21.6
27.8
34.6
49.3
21.2
28.2
32.5
46.5
22.2
24.2
32.6
46.6
23.1
23.6
-1.7
-1.6 -2.6 -2.3
-2.2
.7
-.8
-.7
20.2
20.4
21.1
21.6
22.1
.
.
Profits before tax
Profits tax liability
Profits after tax
Dividends, Undistributed profits.
Inventory valuation adjustment
Table 5.—Gross Auto Product in Current and Constant Dollars
(1.15, 1.16)
641.9
393.9 435.7 420.8 430.7 441.2 450.2 459.1
Net interest
17.9
19.3
19.8
Table 7.—National Income by Industry Division (1.11)
Billions of current dollars
All industries, total
Gross auto product !~
31.4
29.8
32.3
29.1
Personal consumption expenditures _ 25.4
Producers' durable equipment
4.5
Change in dealers' auto inventories.
1.0
24.9
4.4
.4
26.6
4.7
1.0
23.7 24.7
4.2
4.4
1.1 -1.3
.3
1.0
.7
.0
1.3
1.2
-.2
1.0
1.2
-.1
1.0
1.1
.3
1.5
1.3
.0
1.5
1.5
-.3
1.3
1.6
-.1
29.0
1.2
27.6
1.8
30.0
1.8
27.0
1.6
26.1
1.9
27.4
2.1
22.8
2.2
25.3
2.7
Net exports
Exports, -.
Imports
28.2
25.0
27.8
24.5 22.2
4.3
3.9
.6 -1.1
24.6
4.3
-1.2
29.6
1.7
Addenda:
New cars, domestic
New cars, foreign
2
.
Billions of 1958 dollars
Gross auto product 1
31.4
30.3
33.0
29.7
Personal consumption expenditures. 25.4
Producers' durable equipment
4.5
Change in dealers' auto inventories. . 1.0
25.4
4.4
.4
27.2
4.7
1.0
24.2 25.3
4.2
4.4
1.1 -1.4
.1
1.3
1.2
-.2
1.0
1.2
Net exports
Exports... .
Imports
.. -
.3
1.0
.7
.0
1.1
1.1
28.8
.3
1.6
1.3
25.3
28.2
24.7 22.6
4.3 3.9
.7 -1.1
25.0
4.3
-1.3
29.9
.1
1.5
1.5
-.2
1.3
1.6
.0
1.6
1.7
.
1
29.2
1.2
28.2
1.8
30.7
1.8
27.6
1.6
26.6
1.8
27.8
2.1
23.3
2.2
25.8
2.7
The gross auto product total includes Government purchases, which amount to $0.2 billion
annually for the periods shown.
2
Differs from the gross auto product total by the markup on both used cars and foreign cars.
Second quarter 1967 corporate profits (and related components and totals) are preliminary
562.4 616.7
600.3 610.4 622.1 634.1 636.4
641.9
21.0 22.7 23.7 22.5 22.6 22.0 21.6
35.3 38.2 37.9 38.0 38.4 38.7 39.8
171.8 192.1 185.9 190.0 193.6 198.8 195.0
66.3 73.2 71.0 72.6 73.8 75.3 75.9
105.5 118.9 114.9 117.4 119.8 123.5 119.2
Transportation
Communication-.
..
Electric, gas, and sanitary services
Wholesale and retail trade. .
23.1
11.2
11.4
84.2
24.8
12.4
12.1
90.8
24.3
11.8
11.8
89.2
24.7
12.3
11.9
90.1
24.7
12.7
12.4
91.1
25.4
12.7
12.3
92.6
25.5
12.8
12.4
93.5
Finance, insurance, and real estate
Services
Government and government enterprises
.
- .
Rest of the world
61.3
63.7
65.6
69.3
63.9
67.0
64.9
68.6
66.2
70.2
67.5
71.3
68.4
72.6
75.2
4.2
84.6
4.2
80.8
3.9
83.0
4.2
86.3
4.1
88.4
4.4
90.8
4.1
Table 8.—Corporate Profits (Before Tax) and Inventory Valuation
Adjustment by Broad Industry Groups (6.12)
AH industries, total
Financial institutions
M^utual
Stock
Addenda:
New cars, domestic 2
New cars, foreign- -
Agriculture, forestry, and fisheries
Mining and construction
Manufacturing
Nondurable goods -.
.- _
Durable goods
Non financial corporations
Manufacturing
N endurable goods
Durable goods
Transportation,
communication,
and public utilities
. _. .
All other industries
74.9
82.2
81.1
81.3
81.9
84.6
78.1
78.5
8.4
9.3
8.9
9.0
9.5
9.6
9.6
9.3
2 0
64
1.9
7 4
66.5
72.9
72.2
72.2
72.4
75.0
68.5
09.2
38.7
16.5
22.2
43.1
18.7
24.4
42.7
18.3
24.3
42.5
18.5
24.0
42.7
18.8
23.9
44.4
19.2
25.3
39.6
18.4
21.1
11.2
16.6
11.9
18.0
11.7
17.8
12.0
17.8
11.8
17.9
12.0
18.6
11.7
17.3
SUKVEY OF CURRENT BUSINESS
8
1966
1965
1966
I
II
August 1967
1966
1967
III
IV
I
1965
II*
1966
Seasonally adjusted at annual rates
444.8
36.5
39.0
38.3
38.7
39.2
39.8
40.3
40.9
37.0
38.2
36.9
37.9
38.6
39.2
39.7
40.4
Income originating in corporate business.
.
_ _
319.1 352.4 342.6 348.8 355.2 363.2 361.5
363.5
Compensation of employees
Wages and salaries.. _
Supplements
249.8 275.9 266.8 273.2 279.0 284.5 289.1
224.6 246.1 238.3 243.9 248.8 253.5 257.1
25.2 29.8 28.6 29.3 30.2 30.9 32.0
290.5
258.0
32.5
Net interest
—2.4 -2.4 -2.3 -2.4 -2.4 -2.4 -2.5
-2.5
81.2
80.5
34.6
45.9
19.6
26.3
.7
74.9
75.7
32.5
43.2
20.7
22.5
-.8
75.4
76.1
32.6
43.5
21.6
21.9
-.7
Personal income
619 1
418.3
164.8
132 6
99 6
68 8
85 0
Other labor income
18 6
20 8
20 0
20 5
21 1
21 7
22 2
22 9
Proprietors' income
Business and professional - _
Farm
56 7
41*9
14 8
59 3
43 2
16 1
60 0
42 8
17 1
59 3
43 3
16 0
59 2
43 3
15 9
58 6
43 4
15 1
57 8
43 2
14 6
57 8
43 4
14 3
Rental income of persons
Dividends
Personal interest income _ _ _
19 0
19 8
38 4
19 4
21 5
42 4
19 2
21 4
40.7
19 3
21 6
41.9
19 4
21 6
42 8
19 6
21 2
44 3
19 8
22 2
45 2
20 0
23 1
46 0
39 7
43 9
42 4
41 9
44 0
47 5
50 8
51 4
18 1
20 8
19 4
19 6
21 0
23 2
24 7
25 6
2 2
5.6
13.8
18
5.7
15.6
20
5.9
15.1
1.6
5.4
15.3
18 18 2 1
54
6 3 6.5
15.8 16.2 17.6
21
6.5
17.0
for
__ 13.4
17.9
17.1
17.3
18.4
18.7
20.0
20.2
75.2
70.4
74.1
76.9
79.6
85.0
65.1
84.4
64.4
84.6
64.5
85.4
65.3
85.6
66.1
83.5
62.8
84.5
62.8
16.2
17.5
17.0
17.3
17.7
18.0
18.4
18.5
Less: Personal contributions
social insurance
Cross product originating in
nonfinancial corporations
376.3 412. 1 400.7 408.2 415.3 424.2 423.1
426.4
Capital consumption allowances
Indirect business taxes plus transfer
payments less subsidies
35.5
37.9
37.2
37.7
38.1
38.6
39.1
39.8
35.3
36.5
35.3
36.2
36.9
37.5
37.9
38.6
Income originating in nonfinancial
corporations
305.5 337.7 328.3 334.3 340.3 348.0 346.1
348.0
Compensation of employees.
Wages and salaries
Supplements
Net interest
_ _
Corporate profits and inventory
valuation adjustment
Profits before tax
Profits tax liability
Profits after tax
Dividends
_
Undistributed profits
Inventory valuation adjustment. ._
Cash flow, gross of dividends
Cash flow, net of dividends
236.4 261.3 252.7 258.8 264.3 269.5 273.7
212.8 233.4 225.9 231.2 236.0 240.5 243.7
23.6 27.9 26.8 27.5 28.3 29.1 30.0
274.6
244.1
30 5
6.8
7.0
7.1
7.3
63.3 69.7 69.1 69.0 69.2
64.9 71.3 71.7 71.3 71.3
27.6 30.3 30.4 30.3 30.3
37.3 41.0 41.3 41.0 41.0
16.9 18.5 18.5 18.6 18.6
20.4 22.5 22.8 22.3 22.4
-1.7 -1.6 -2.6 -2.3 -2.2
71.5
70.8
30.2
40.6
18.2
22.5
.7
65.3
66.1
28.1
38.0
19.2
18.8
-.8
66.1
66.8
28.3
38.5
20.1
18.4
-.7
79.3
61.1
77.2
57.9
78.3
58.2
5.9
72.8
55.9
6.7
78.9
60.4
6.4
78.5
60.0
6.6
78.6
60.0
79.1
60.5
Less: Personal tax and nontax payments
80.2
79.1
Equals : Disposable personal income. - . 472.2 508.8 497.5 503.3 512.4 522.0 532.7
540.0
Less • Personal outlays
445 0 479 0 470 9 474.6 483 2 487 4 493 9
Personal consumption expenditures-- 433.1 465.9 458.2 461.6 470.1 473.8 480.2
Interest paid by consumers _ _ -_ _- 11.3 12.4 12.0 12.3 12.5 12.9 13.1
Personal transfer payments to for.7
.6
.6
.6
.7
.7
.6
eigners
504.0
489.7
13.3
Cross product originating in
nonfinancial corporations
356.1 383.0 377.4 380.9 384.6 389.0 384.7
385.8
Addenda :
Disposable personal income :
Total, billions of 1958 dollars
Per capita, current dollars.. .
Per capita, 1958 dollars
Current dollar cost per unit of
1958 dollar gross product
originating 2in nonfinancial
corporations
1.057 1.076 1.062 1.072 1.080 1.091 1.100
.100
.099
.099
.099
.099
.099
.102
.103
.099
.664
.016
.095
.682
.018
.093
.670
.017
.095
.679
.017
.096
.687
.018
.096
.693
.018
.098
.711
.018
.100
.712
.019
Corporate profits and inventory valuation adjustment
_ _ _ .178
Profits tax liability
.078
Profits after tax plus inventory valuation adjustment ._ .100
.182
.079
.183
.081
.181
.080
.180
.079
.184
.078
.170
.073
.171
.073
.103
.102
.101
.101
.106
.097
.098
1. Excludes gross product originating in the rest of the world.
2. This is equal to the deflator for gross product of nonfinancial corporations, with the
decimal point shifted two places to the left.
* Second quarter 1967 corporate profits (and related components and totals) are preliminary
and subject to revision in next month's SURVEY.
36.0
434.4 456. 3 451.8 452.6 458.4 463.2 470.6
474.9
2,427 2,584 2,537 2,560 2,598 2,639 2,686
2,232 2,317 2,304 2,302 2,324 2,341 2,373
2,716
2,388
26 6
28.7
29 2
34 6
Personal consumption expenditures
_ _____
433.1 465.9 458.2 461.6 470.1 473.8 480.2
489.7
66 0
70.3
71.6
68.2
70.9
70.6
69.4
72.5
Automobil e s and parts
29.9
Furniture and household equipment- 27.0
Other
9.1
29.8
29.9
10.6
31.4
29.4
10.8
28.5
29.1
10.6
29.8
30.6
10.5
29.6
30.6
10.4
27.3
31.4
10.7
29.7
31.9
10.9
191.2 207.5 203.2 207.1 209.5 210.3 214.2
217.2
99.0 106.7 105.2 107.0 107.3 107.2 109.3
36. 1 40.3 39.5 39.8 41.0 40.8 41.5
15.1 16.2 15.8 16.2 16.3 16.6 17.1
41.1 44.3 42.7 44.1 44.8 45.7 46.3
110.1
43.2
17.5
46.4
175.9 188.1 183.5 186.3 189.8 192.9 196.6
200.0
69.6
27.8
14.4
84.8
70.6
28.1
14.6
86.6
Food and beverages _
Clothing and shoes
Gasoline and oil
Other
1.105
1.0
38.8
29 8
Table 11.—Personal Consumption Expenditures by Major Type (2.3)
Nondurable goods .
Dollars
65.6
27 2
Equals • Personal saving
Durable goods
Billions of 1958 dollars
Capital consumption allowances
Indirect business taxes plus transfer
payments less subsidies. _.
Compensation of employees
Net interest
_ _ ._
II
537 8 584 0 567 8 577 3 589 3 601 6 612 9
78.4
60.1
Cross product originating in
financial institutions _
I
Wage and salary disbursements
359.1 394.6 381.3 390.2 399.6 407.4 414.7
C ommodity-producing i n dustries - - 144.5 159.3 154.2 158.0 161.0 164.1 165.7
Manufacturi n,g
115 6 128 1 123 1 126 9 129 7 132 6 133 1
Distributive industries
__ __ _ 86 9 93 9 91.3 93 0 94 9 96 5 98 7
Service industries
58 3 63 5 61 4 62 9 64 3 65 5 67 0
69 3 77 9 74 3 76 4 79 4 81 4 83 4
Government
Transfer payments
Old-age, survivors, disability, and
health insurance benefits
State unemployment insurance
benefits
Veterans benefits
Other
Cash flow, gross of dividends
Cash flow, net of dividends
IV
Table 10.—Personal Income and Its Disposition (2.1)
._ 392.5 429.6 417.8 425.5 433.0 442.2 441.5
Corporate profits and inventory
valuation adjustment
71.7 78.9 78.0 78.0 78.7
Profits before tax
73.3 80.6 80.7 80.3 80.8
Profits tax liability..- _. _ . __ 31.4 34.5 34.5 34.5 34.6
Profits after tax
42.0 46.0 46.2 45.9 46.2
Dividends
_
18.3 19.9 20.0 20.1 20.1
Undistributed profits
23.7 26.1 26.1 25.8 26.1
Inventory valuation adjustment ._ -1.7 -1.6 -2.6 -2.3 -2.2
III
Billions of dollars
Table 9. — Gross Corporate Product 1 (1.14)
Gross corporate product
II
Seasonally adjusted at annual rates
Billions of dollars
Capital consumption allowances
Indirect business taxes plus transfer
payments less subsidies
I
1967
Services.
_ _
Housing
Household operation
Transportation
Other
--_
__ _ __
63.6
25.7
12.6
74.0
67.1
27.0
13.6
80.4
66.2
26.1
13.2
78.0
66.5
26.9
13.5
79.4
67.4
27.4
13.7
81.3
68.5
27.7
14.0
82.7
Table 12.—Foreign Transactions in the National Income and
Product Accounts (4.1)
39.1
43.0
42.0
42.5
43.7
44.0
45.3
45.1
Exports of goods and services... __ __ 39.1
43.0
42.0
42.5
43.7
44.0
45.3
45.1
__
39.1
43.0
42.0
42.5
43.7
44.0
45. 3
45.1
Imports of goods and services
32.2
37.9
36.0
37.1
39.0
39.7
39.9
39.8
28
.7
2.2
2.9
.6
2.3
3.4
.6
2.8
2.9
.7
2.3
2.8
.6
2.2
2.5
.6
1.9
2.9
.7
2.2
3.1
1.0
2.0
4.1
2.2
2.7
2.5
1.8
1.8
2.5
2.3
Receipts from foreigners
Payments to foreigners
Transfers to foreigners
Personal
Government
Net foreign investment
_
SUEVEY OF CTJRBENT BUSINESS
August 1967
1966
1965
1966
I
II
1966
1967
III
IV
I
1965
II*
1966
I
Table 13.—Federal Government Receipts and Expenditures (3.1, 3.2)
Personal tax and nontax receipts
Corporate profits tax accruals
Indirect business tax and nontax
accruals
Contributions for social insurance. _.
143.2 137.0 141.6 145.6 148.6
149.1
148.2
53.8
29.3
61.7
32.3
57.7
32.2
60.9
32.2
63.1
32.4
65.2
32.3
65.5
30.3
64.0
30.4
16.5
25.2
15.9
33.3
15.2
31.9
15.9
32.5
16.2
34.0
16.3
34.7
16.2
37.0
16.5
37.2
134.8 138.4 146.3 151.9
142.9
160.9
162.8
Purchases of goods and services National defense
Other -.
66.8
50.1
16.7
77.0
60.5
16.5
72.1
55.1
17.1
74.9 79.5
58.4' 63.0
16.6 16.6
81.5
65.6
15.9
87.1
70.2
16.8
89.5
72.5
17.0
Transfer payments
To persons To foreigners (net) _ _ . - .
32.4
30.3
2.2
36.0
33.7
2.3
35.2
32.5
2.8
34.1
31.9
2.3
35.9
33.7
2.2
38.8
36.9
1.9
42.2
40.0
2.2
42.4
40.3
2.0
Grants-in-aid to State and local governments
11.2
14.8
13.8
14.6
15.3
15.6
15.6
15.3
8.7
9.5
9.1
9.4
9.6
10.0
10.4
10.4
Federal Government expenditures
Net interest paid
Subsidies less current surplus of government enterprises
Surplus or deficit ( — ), national income and product accounts _
123.4
IV
I
II
Index numbers 1958=100
Billions of dollars
124.8
III
Seasonally adjusted
Seasonally adjusted at annual rates
Federal Government receipts
II
1967
Table 16.—Implicit Price Deflators for Gross National Product (8.1)
110.9 113.9 112.5 113.5 114.4 115.3 116.0 116 6
Gross national product
Personal consumption expenditures. ... 108.7 111.5 110.1 111.2 111.8 112.7 113.2 113.7
99.5 98.6 98.0 98.4 98.7 99.4 99.5 99.5
106.9 110.6 109.4 110.3 111.0 111.6 111.7 112.2
114.8 118.3 116.6 117.8 118.7 119.9 120.9 121.9
Durable goods
Nondurable goods
Services
Gross private domestic investment
Fixed investment
. . . 110.0 112.5 111.4 112.2 112.8 113.7 114.4 115.0
Nonresidential
107.7 110.2 109.1 109.7 110.4 111.6 112.2 112.2
114.6 118.4 116.8 117.7 118.9 120.1 121.0 121.5
Structures
Producers' durable equipment.. 104.2 106.2 105.1 105.8 106.3 107.7 108.2 108.3
116.4 120.9 118.7 120.4 122.0 123.2 123.8 126.2
Residential structures
116.5 121.1 118.8 120.5 122.2 123.4 124.0 126.4
Nonfarm
Farm
_
- - - - - - - 110.2 114.1 111.9 114.1 114.6 115.9 117.3 118.8
Change in business inventories
Net exports of goods and services
4.3
1.4
5.4
.3
4.6
2.2
5.3
6.0
3.2
n
5.6
5.9
-11.9
-3.3
5.3
-14.6
Exports.
Imports
-. . .
--. - - . 104.5 105.4 104.4 105.0 105.4 106.7 106.7 106.7
102.4 104.1 103.2 104.0 104.8 104.3 104.3 104.3
Government purchases of goods and
services
Federal
. ..
State and local
119.4 123.9 122.2 123.1 124.6 125.2 125.8 126.1
- - - - - - - 115.5 119.1 117.9 118.3 r 119.7 120.2 120.5 120.3
123.4 129.0 126.6 128.3 129. 9 130.8 131.9 132.9
Table 14.—'State and Local Government Receipts and Expenditures
(3.3, 3.4)
State and local government receipts
75.1
84.7
81.1
83.6
86.0
87.9
89.3
90.4
11.8
2.1
13.5
2.3
12.7
2.3
13.1
2.3
13.7
2.3
14.3
2.3
14.7
2.1
15.1
2.1
45.7
4.5
11.2
49.2
4.9
14.8
47.7
4.7
13.8
48.7
4.8
14.6
49.8
4.9
15.3
50.6
5.0
15.6
51.7
5.2
15.6
52.6
5.3
15.3
73.9
81.8
78.8
80.6
82.7
84.9
88.3
90.6
Purchases of goods and services
69.6
Transfer payments to persons
- - 6.9
Net interest paid
.5
Less: Current surplus of government
enterprises
. .._
3.1
77.2
7.5
.3
74.3
7.3
.4
76.2
7.3
.3
78.1
7.6
.3
80.2
7.8
.3
83.3
8.1
.2
85.4
8.3
.2
3.3
3.2
3.3
3.3
3.4
3.4
3.3
2.9
2.4
2.9
3.3
3.0
1.0
o
Personal tax and nontax receipts
Corporate profits tax accruals
Indirect business tax and nontax
accruals
.
- ..
Contributions for social insurance
Federal grants-in-aid
State and local government expenditures
Surplus or deficit (— ), national
income and product accounts
1.2
110.8 119 5 114 1 117 0 118 7 128 2
Personal saving
27.2 29.8 26 6 28.7 29 2
Undistributed corporate profits
25.4 27.8 27.8 27.6 27.8
Corporate inventory valuation adjustment. ._
— 1.7 —1.6 —2.6 -2.3 —2.2
Corporate capital consumption
allowances
36.5 39 0 38 3 38.7 39 2
Noncorporate capital consumption
allowances
23.4 24 5 24 1 24.4 24 7
Wage accruals less disbursements
.0
.0
.0
.0
.0
Government surplus or deficit (— ),
national income and product
accounts
Federal
State and local
2 7
32
4 6
6 1
26
14
1.2
3
29
2 2
24
32
29
_ 7
33
105.0 107.3 106.2 107.0 107.6 108.5 108.8 109.0
- -
102.4 103.1 102.0 102.8 103.2 104.5 104.9 104.8
106.9 110.4 109.3 110.1 110.9 111.5 111.5 112.0
Services
118.3 122.1 120.4 121.4 122.6 123.8 124.9 125.9
Structures _
115.5 120.1 117.8 119.6 121.2 122.0 122.6 123.8
Addendum:
Gross auto product
99 9
98 2
97 8
98 1
98 0
99.0
98.8
98.8
Gross national product. .
110.9 113.9 112.5 113.5 114.4 115.3 116.0 116.6
127 7
125 3
38 8
24.2
36 0
23.6
7
— 8
39 8
40 3
40 9
24 9
.0
25 2
.0
25 5
.0
General government
_ 3 —10 8
14 9
* Second quarter 1967 corporate profits (and related components and totals are preliminary
and subject to revision in next month's SURVEY.
11 9
10
111.5 120.2 117.8 121.0 118 1 124 0
112 9
107 3
Gross private domestic investment-. 107.4 118.0 115.2 118.5 116.4 122.2 110.4
Net foreign investment-. .
4.1 2.2
2.7
2.5
25
18
1.8
Statistical discrepancy. . .
-2.0 -2 6 — 9 -2 2 —3 2 —3 8 —4 0
105.1
2 3
O - 67 - 2
Digitized for269-653
FRASER
Durable goods
Nondurable goods
110.9 113.9 112.5 113.5 114.4 115.3 116.0 116.6
34 6
28.2
33
30
Gross investment
Gross national product
Goods output. .
Table 18.—Implicit Price Deflators for Gross National Product by
Sector (8.4)
Table 15.—Sources and Uses of Gross Saving (5.1)
Gross private saving
Table 17.—Implicit Price Deflators for Gross National Product by
Major Type of Product (8.2)
14 6
9
31
Private
Business
Nonfarm
Farm
Households and institutions- -
108.9 111.6 110.2 111.2 112.0 112.9 113.5 114.0
108.3 111.0 109.6 110.6 111.4 112.3 112.9 113.4
108.7 111.0 109.5 110.5 111.4 112.5 113.4 114.0
100.0 110.7 112.4 112.9 110.8 106.7 99.3 98.8
132.3 137.0
133.5 139.2 137.4 138.1 140.0 141.0 142.3 143.4
by JEAN CROCKETT, IRWIN FRIEND, and HENRY SHAVELL*
The Impact oi Monetary Stringency on Business Investment
IHE year
1966 was characterized by
one of the severest credit squeezes of
the past half century. In the late
summer, interest rates on high quality
corporate bonds reached a level that
had not been matched since the early
1920's and that was approached only
briefly in 1932. The 1966 developments
reflected a series of restrictive monetary
measures taken by the Federal Reserve Board to offset the inflationary
effect of a surging demand for goods
and services from virtually all sectors
of the economy. While fiscal policy
and moral suasion were also used to
combat inflationary tendencies, there
was an unusually heavy reliance on
monetary measures.
These measures were initiated around
the end of 1965 and were intensified
from the spring of 1966 until the fall,
when the Board apparently moderated
its restrictive policy because of the
waning of inflationary pressures. Net
free reserves of member banks (excess
reserves less borrowings from Reserve
Banks) declined substantially from
January to October and then started
to increase. The seasonally adjusted
money stock (currency plus demand
deposits), which had been rising
markedly, declined from April to October; it then leveled off and in early
1967 experienced a recovery. Although
the money stock plus time deposits
(which is considered by some economists
*Mr. Friend is Richard K. Mellon Professor of Finance,
and Mrs. Crockett is Professor of Finance, University of
Pennsylvania; Mr. Shavell is Assistant Chief, Business
Structure Division, Office of Business Economics. The
authors acknowledge the cooperation of the Securities and
Exchange Commission, and particularly the contribution
of Mr. John T. Woodward in carrying out the special survey.
10
to be a more comprehensive measure
of money supply) increased moderately
from April to October, the rate of
growth was much lower than in the
preceding or following periods. Most
capital market interest yields reached
a peak in the late summer, though
others—such as those on short-term
bank loans and housing—did not ease
until close to the end of the year.
As a result of these developments,
1966 provides an unusually favorable
basis for studying the economic effects
of restrictive monetary measures. Economists have generally assumed that
such measures (acting through interest
rates, credit availability, and perhaps
directly through the money supply)
have their most important impact on
the demand for different types of investment and quasi-investment goods,
including housing, plant and equipment, inventories, consumer durables,
and State and local construction. However, except for housing where the
evidence is reasonably clear, there has
been no convincing empirical verification of this. One of the basic difficulties,
of course, involves separating the effects
of tight money from the effects of all the
other influences on investment demand,
particularly since restrictive monetary
policy and booming demand usually
coincide. The rapid and substantial decline in housing investment starting in
the second quarter of 1966—which was
associated with evidence of a tightening
in the availability of mortgage money
rather than with a weakening in basic
demand—points to the dramatic impact of tight money on the housing
market in that period. However, it is
much more difficult to isolate the im-
pact on other sectors. For business
investment in plant and equipment and
in inventories, which constitutes by far
the largest part of total private investment, there are no obvious indications
in the 1966 national accounts or in
other available data of any substantial
effect of restrictive monetary policy,
though there is some evidence of a
moderate slackening in nonresidential
construction starting in the second
quarter of the year.
An examination of earlier experience also points to an indeterminate
relationship between tight money policy and business investment, again
reflecting, at least in part, the coincidence of such policy and booming
demand. Econometric attempts to isolate the effects of monetary policy
from other supply and demand considerations affecting business investment have been inconclusive. Depending on the econometric model utilized,
it is possible to point to significant
interest rate effects on plant and
equipment but not on inventories, on
inventories but not on plant and equipment, on both, or on neither. Generally, the negative results seem more
impressive than the positive results.
The latter are frequently derived by
testing a large number of models
that turn out to have insignificant or
even incorrect interest rate effects
before models with nominally significant effects of correct sign are
obtained. Many attempts have also
been made to obtain insights into
the relationship between financial factors and business investment on the
basis of interviews with businessmen
or questionnaires filled in by them.
August 1967
However, these have provided qualitative rather than quantitative information and have suffered from the
absence of objective data against which
the responses could be checked.
The survey approach
In an attempt to fill in this striking
gap in our basic knowledge about the
effects of monetary policy, we decided
to use the unique potential provided
by the surveys of actual and anticipated investment in plant and equipment and in inventories conducted
regularly by OBE and the Securities
and Exchange Commission.1
In late March, a special questionnaire
was sent to all firms cooperating in
these surveys (except for certain transportation companies). The questionnaire asked for: (1) the factors causing
appreciable d:fferences between actual
plant and ec dpment expenditures in
1966 and the expenditures anticipated
early in the year (both figures are
collected in tne regular surveys); (2)
detailed information on the timing and
magnitude of any reductions in plant
and equipment or inventory outlays
that resulted from financial market
factors during 1966, along with the
specific factors or conditions primarily
responsible; and (3) detailed information on the impact of 1966 financial
market factors on 1967 investment
anticipations both for plant and equipment and for inventories, again with
the factors primarily responsible. The
first section of the questionnaire was
designed to give essentially qualitative
information, along lines collected in two
earlier studies,2 on the relative importance of the different factors (including financial market developments)
responsible for revisions in planned
plant and equipment expenditures in
1
The plant and equipment survey normally collects
both annual and quarterly data on actual and anticipated
outlays for up to a year ahead from a large sample of U.S.
nonfarm business firms. Anticipated quarterly inventory
investment is collected regularly from manufacturing firms
only. For the present study, the reporting panel for the
broader plant and equipment survey was used.
2
See Irwin Friend and Jean Bronfenbrenner, "Business
Investment Programs and Their Realization," SURVEY,
December 1950, and Murray F. Foss and Vito Natrella,
"Investment Plans and Realization," SURVEY, June 1957.
SURVEY OF CURRENT BUSINESS
1966. The second and third sections
were designed to probe, for the first
time, much more deeply into the size
and timing of, as well as the reasons for,
the impact of the financial market
developments on business investment,
including inventories as well as plant
and equipment, and to separate the
direct from the indirect effects more
explicitly. The questionnaire used for
this study and technical notes describing the sample are appended to this
article.
Before turning to a discussion of the
11
survey results, we might note that 1966
can be regarded as a critical test of the
potential impact of monetary policy
on business investment. In view of the
severe impact on the housing market in
the second half of the year and the
disruption of the municipal bond
market in late August, it is difficult to
conceive of the application of even
stronger doses of generally restrictive
monetary policy, unless more heroic
measures are taken to at least partially
insulate those sectors most sensitive to
credit stringency from its impact.
Factors Accounting for Appreciable Changes in
1966 Plant and Equipment Expenditures
Of the 4,418 firms (out of 8,876 firms
surveyed) whose replies to the special
questionnaire were received in time to
be included in the tabulations for this
article, 1,057 replied that their actual
1966 plant and equipment expenditures
had been changed appreciably—either
in aggregate dollar amounts or in composition—from the outlays expected
early that year.3 These firms were asked
to indicate the most important ("principal") factor and other major factors
causing upward and/or downward deviations between actual and anticipated
expenditures. The major purpose of this
part of the questionnaire was to give
perspective on the relative importance
of different factors causing revisions in
1966 plant and equipment programs.
Since similar information had been collected for 1949 and 1955 in earlier
studies, rough comparisons can be made
with these earlier periods.
3
A comparison was made between the qualitative replies
("yes" or "no") to question 1 of the questionnaire ("Were
your actual expenditures for plant and equipment changed
appreciably, either in terms of aggregate dollar amount or in
composition or form, from those expected early that year?")
and the dollar amount of difference between anticipated and
actual expenditures as reported in the regular OBE-SEC
investment surveys. A higher proportion of firms answering
"yes" than of those answering "no" to question 1 had deviations greater than plus or minus 20 percent (76 percent as
compared with 67 percent). For the largest size manufacturing firms, this difference was more pronounced (69 percent as
compared with 53 percent). If allowance were made for the
inclusion of compositional as well as aggregative changes in
the replies to question 1, the differences indicated above
would presumably be larger.
Both for the 1,057 respondents as a
group 4 and for the different size categories,5 increases in anticipated plant
and equipment expenditures were more
common than decreases in 1966 (tables
1 and 2). Moreover, a change in the sales
outlook was by far the most important
single factor accounting for increased
plant and equipment outlays over anticipated levels in 1966. The other factors
that on balance tended to increase outlays significantly were changes from
expected plant and equipment costs
or prices, technological developments,
mergers or acquisitions, and routine
underestimates.
The most important factor depressing
plant and equipment outlays was the
delay in equipment deliveries and/or
construction progress; this was more
dominant than any of the factors accounting for increases. The other factors that on balance tended to significantly depress outlays included in
financial market conditions, the investment tax credit, working capital re-
* It should be noted that the 1,057 respondents gave 423
principal factors and 798 other major factors as reasons for
increases from planned expenditures and 322 principal factors
and 692 other major factors as reasons for downward revisions
from planned expenditures. Thus, the figure 1,057 cannot be
constructed from the data in tables 1 and 2.
s A more detailed size distribution than the one presented
in this article is available and has been used for analytical
purposes.
SUEVEY OF CUERENT BUSINESS
12
quirements, and net earnings. The most smaller ones. Although the capital
important single factor depressing out- goods supply situation was also influenlays in the "other factors" category tial in raising planned outlays—whenwas the program of voluntary restraint ever an unexpected easing of equipment
initiated by the Administration in early deliveries and construction progress
1966. Not surprisingly, in view of the occurred—its impact was clearly less on
greater importance of debt than of upward capital outlay revisions than
external equity financing, unantici- on downward revisions, and also varied
pated changes in the availability and directly with the size of firm. The net
cost of debt financing affected many reduction in expenditures (decreases
more firms than corresponding changes less increases) attributable to the capital goods supply situation was relain the equity markets.
tively most important for the largest
Size and industry comparisons
firms.
Chart 7 portrays differences in the
Among firms spending more than
relative importance of factors responoriginally planned for plant and equipsible for deviations between anticipated
and actual plant and equipment expend- ment, the relative importance of higheritures by size of firm. It indicates that than-expected sales was greatest for
unexpected delays in equipment de- those with assets of $10 million to $50
liveries and in construction progress million. Deviations from expected sales
were much more important in reducing were considerably less important among
outlays for the larger firms than for the firms with downward revisions in capital
August 1967
spending than among firms with upward revisions. Changes from earlier
expectations in net earnings were far
less influential than changes in sales
outlook for companies reporting increased capital spending, especially
among larger firms, but were as important as, or more important than,
sales among firms spending less than
programed. The relative importance of
other frequently cited factors, such as
financial market conditions and plant
and equipment costs, did not appear to
vary significantly among firms of different asset size.
An analysis of the reasons given for
deviations in 1966 between planned and
actual capital outlays did not reveal
appreciably different patterns of motivation for changes in outlays, except
for public utilities. Utilities mentioned
financial market developments as a fac-
Table 1.—Factors Responsible for Deviations Between Anticipated and Actual Plant and Equipment Expenditures in 1966]
Distribution of principal factors
Increasing
outlays 2
Number of firms reporting changes from expectations in —
Increasing
outlays 2
Decreasing
outlays 2
Number 3
1. Sales outlook
Firms with sales above expectations Firms with sales below expectations
Firms not specifying direction
_
.
2. Current expenses .
3. Net earnings
Firms with earnings above expectations
Firms with earnings below expectations
Firms not specifying direction
Distribution of other major factors
Decreasing
outlays 2
Increasing
outlays 2
Decreasing
outlays 2
Number 4
Percent
Increasing
outlays 2
Decreasing
outlays 2
Percent
21
2
19
0
26.5
9
5
2.1
1.6
65
66
8.1
9.5
18
15
3
0
18
1
16
1
4.3
5.6
89
65
15
9
119
11.2
17.2
108
8
112
98
6
8
6.5
163
133
18
12
101
9
82
10
20.4
14.6
3
4. Working capital requirements.
11
15
2.6
4.7
57
93
7.1
13.4
5. Timing of deliveries and/or construction progress
69
154
16.3
47.8
98
78
12.3
11.3
31
26
1
4
8
1
4
3
7.3
2.5
93
80
4
9
26
17
6
3
11.7
3.8
4
2
2
35
31
4
.9
10.9
44
38
22
86
73
37
5.5
12.4
27
6
6.4
1.9
67
25
8.4
3.6
2
16
.5
5.0
12
44
1.5
6.4
40
8
9.5
2.5
44
8
5.5
1.2
31
9
7.3
2.8
21
1
2.6
.1
12. Accidental damage 6
11
1
2.6
.3
6
0
.8
.0
13. All other factors
58
26
13.7
8.1
39
45
4.9
6.5
423
322
100.0
100.0
798
692
100.0
100.0
6. Plant and equipment costs (viz, prices paid) ._
Firms with costs above expectations
Firms with costs below expectations
Firms not specifying direction
___
7. Financial market conditions 5
_ _
___
Firms mentioning availability and cost of debt financing
Firms mentioning availability and cost of equity financing
8. Technological developments. -_
9. Investment tax credit 6 __
_
_ _ _
_
.
10. Mergers or acquisitions 6
11. Routine underestimation or overestimation 6
Totals 7
___
__ ._
1. Based on factors cited by firms answering "yes" to question: "Were your actual 1966
expenditures for plant and equipment changed appreciably, either in terms of aggregate
dollar amount or in composition or form, from those expected early that year?"
2. Increasing (decreasing) outlays refer to 1966 expenditures higher (lower) than anticipated
by the firm early in 1966.
3. Not all firms specified the principal factor. Where only one major factor was indicated,
this was taken to be the principal factor.
4. A number of firms specified several major factors.
5. The total may be smaller than the sum of the components since som$ firms mentioned
both debt and equity financing.
6. Specified under "other factors" in the questionnaire.
7. Percentage components may not add to 100 percent because of rounding.
Sources: U.S. Department of Commerce, Office of Business Economics, and Securities
and Exchange Commission.
SUKVEY OF CURRENT BUSINESS
13
For this article, the most interesting
difference between the 1966 and 1955
and 1949 results is the considerably
greater influence that changes in financial market conditions had on the
realization of investment plans. However, even in 1966, financial market
developments accounted for only 10.9
percent of the principal factors cited
by firms as responsible for appreciable
downward revisions in plant and equipment expenditures and 12.4 percent of
the other major factors cited. Perhaps
more significantly, firms citing financial
market developments as the principal
factor or as a major factor in such
Comparison with earlier studies
revisions accounted for only 0.8 of 1
The relative influence of factors percent and an additional 1.9 percent,
principally responsible for deviations respectively, of the total number of
from planned investment in plant and firms responding to the questionnaire.6
equipment as reported in the survey Moreover, there was some offset since,
for 1966 may be roughly compared rather surprisingly, a sizable number of
with similar information collected for firms reported that unexpected changes
1949 and 1955 in two earlier studies. in financial market conditions tended
(See technical notes.) This comparison to increase their 1966 expenditures.
(chart 8) is limited to manufacturing A number of these firms presumably
firms. Perhaps the most striking dif- found conditions in the financial marference between the 1966 results and
kets more favorable than they had
those for 1949 and 1955 is the increased
influence of both financial market expected, while others may have raised
developments and capital goods supply and spent money earlier than they had
a
conditions in effecting reductions from originally planned in anticipation of
7
planned capital outlays. Financial mar- further deterioration in the market.
It should be noted that firms inket developments were mentioned as
the principal factor inducing down- creasing expenditures as a result of
ward revisions in plans in 11 percent financial market developments rarely
of the 1966 cases as compared with 1 gave this as the principal reason for
percent or less in 1949 and 1955. differences between planned and actual
Slower-than-expected equipment de- outlays. A high proportion of the firms
liveries and construction progress were
cited as the principal reason for downward changes in spending in about 48
percent of the cases in 1966, as compared with 38 percent and 17 percent,
respectively, in 1955 and 1949.
The marked decline in the relative
importance of the sales outlook among
Tables 3 and 4 provide the basic data
firms spending less than planned from needed to appraise the impact of 1966
1949 (34 percent of all principal factors developments in the money and capital
cited) to 1955 (10 percent) and 1966 markets on plant and equipment ex(7 percent) is not too surprising in penditures in that year. The most
view of the cyclical differences among important difference between the data
the years concerned. The year 1949 indicating the proportion of firms
was essentially a recession year, and
6
These ratios are obtained by dividing 35 and 86 (table 1,
downward changes in sales outlook
line 7) by 4,418, the total number of firms responding to the
during the year were far more common questionnaire.
than in 1955 and 1966, years of rela- 7 There is some suggestion of such an anticipatory effect in
the intensified capital markets activity in June 1967, after a
tively high demand.
renewed upsurge in interest rates.
increasing expenditures as a result of
financial market developments were
operating at a very high rate of capacity utilization (as of the middle of the
year), and this may have been associated with relatively favorable financial terms.
Tables 1 and 2 do not provide adequate information for even roughly
estimating the quantitative impact of
monetary restrictions on the realization
of plant and equipment expenditures in
1966. However, they do indicate that a
relatively small number of firms were
appreciably affected. For purposes of
estimating the national impact, it will
be necessary to refer to the data presented in the following section.
However, before doing so, we may
point out that tables 1 and 2 provide
more detailed data than had previously
been available on the relationship between the realization of sales, earnings,
and plant and equipment price expectations, and the deviations between
actual and anticipated plant and equipment expenditures. The last of these
relationships is of particular interest,
since it indicates a positive correlation
between the direction of the change in
plant and equipment prices (i.e., above
or below expectations) and the direction of the change in the dollar value
of expenditures. Apparently, higher
capital goods prices are more likely to
increase than to decrease the dollar
value of plant and equipment expenditures, at least in the short run when
demand is reasonably buoyant.
August 1967
tor responsible for reducing planned
capital outlays relatively much more
frequently than did manufacturing and
all other industries covered. Financial
markets accounted for one-fourth of all
cases of decreased outlays among the
utilities and for one-tenth and oneeighth of all cases among manufacturing and all other industries respectively.
Among companies spending less than
planned, public utility firms cited equipment delivery and construction delays
as major factors twice as often as
manufacturing firms and about three
times as often as all other industries.
Impact of Financial Market Factors on
1966 Plant and Equipment Expenditures
with some reduction in expenditures
because of financial market developments (table 3 and subsequent tables)
and the data indicating the proportion
of firms with an appreciable reduction
in expenditures for the same reasons
(table 1 and 2) is, of course, the broader
coverage of the data in table 3. 8 Hows It is even possible that a few firms included in table 3
experienced appreciable reductions in plant and equipment
expenditures due to financial market developments but may
not be included in tables 1 and 2 because of offsetting increases in expenditures due to other reasons.
SURVEY OF CURRENT BUSINESS
14
ever, there are also several other differences in the scope of the data presented
in these two sets of tables. In their
replies to the questions presented in
table 3, a number of firms included the
voluntary restraint on investment urged
by the Administration ear]y in 1966 as
a financial development causing a reduction in their outlays, whereas such
restraint was treated separately in the
questionnaire data presented in tables
1 and 2. On the other hand, the coverage of financial market effects in table
3 may be less inclusive than in tables 1
and 2, both because differences in composition as well as magnitude may be
reflected in tables 1 and 2, and because
the indirect impact of credit restraint
on the firm's investment operating
through its customers may have been
treated differently.
indirect, or "accelerator," effect, which
occurs when a firm's sales, and therefore its capital requirements, are reduced because of the impact of financial
market conditions on its customers, and
(2) an "expectational," or "quasiaccelerator," effect, wilich arises when
the firm anticipates—whether correctly
or not—a subsequent reduction in sales
below the level that would have occurred in the absence of credit restraint
and, on the basis of that expectation,
reduces its current investment.
In the replies on which table 3 is
based, firms were asked to exclude
indirect effects.9 The questionnaire further attempted to distinguish cases in
which the increased cost of funds was
the primary consideration from those
in which an unfavorable influence on
expectations was most important.
Direct and indirect
9
In contrast, firms were not specifically requested to
exclude such indirect effects in their replies presented in
tables 1 and 2. (These replies were obtained from the first
section of the questionnaire, which followed the format of
the two earlier surveys.) However, respondents to the first
section of the current survey questionnaire were provided
with a checklist that included such factors as the sales outlook, net earnings, and the availability and cost of debt and
equity financing.
effects
In addition to the direct impact that
credit restraint has on investment
(i.e., through the increased cost of
financing), two other mechanisms may
be of considerable importance: (1) an
Factors1 Responsible for Deviations Between Anticipated and Actual
Plant and Equipment Expenditures, All Industries, 1966
Factors INCREASING Expenditures: 2
Factors DECREASING Expenditures: 2
Sales Outlook
Net Earnings
.
Timing of Equipment Deliveries
"and/or Construction Progress"^
^Plant and Equipment Costs
Financial Market Conditions
All Other Factors
Under
$10 mil.
$10 to
$50 mil.
$49.9 mil. and over
ASSET SIZE CLASSES
*
Percent of factors cited by companies in each asset size class.
1. Includes "principal" as well as "other major" factors.
2. Changes in actual expenditures from anticipations reported early in 1966 in OBE-SEC survey.
U.S. Department of Commerce, Office of Business Economics
Under
$10 mil.
$10 to
$49.9 mil.
$50 mil.
and over
ASSET SIZE CLASSES
August 1967
(A reduction in investment resulting
directly from the higher cost of funds
is considered autonomous, while one
resulting from a decline in actual sales
is an induced effect. The latter is
particularly likely to occur for capital
goods producers or for firms supplying
the housing industry; however, it may
also occur quite generally if the autonomous reduction in investment causes,
through a multiplier relationship, a
reduction in consumption. The impact
of an anticipated decline in sales is
autonomous in the period prior to the
realization of the anticipation. However, to the extent that the anticipated
effects are ultimately realized, such
reductions can be regarded as induced
in a longer run perspective.)
Table 3 probably includes expectation al (or "quasi-accelerator") effects
to a significant degree, since many firms
indicated that financial market developments, by affecting the general business
outlook, caused a reduction in investment and this presumably reflects an
attempt by these firms to anticipate
the resultant decline in their sales. The
relatively high incidence of firms citing
the changed business outlook as the
basis for the financial market influence
perhaps also indicates that, notwithstanding questionnaire instructions to
exclude such cases, some companies
attributed to financial market developments those reductions in investment
resulting proximately from actual declines in sales and only indirectly from
monetary stringency. Thus, even table
3 may contain some indirect effects,
though probably not to the same extent
as tables 1 and 2.
As would be expected, the proportion
of firms indicating that they had made
some reduction in expenditures because
of financial market developments is
considerably larger than the proportion noting an appreciable downward
effect. (See tables 1 and 2.) It may be
noted that this difference in the number
indicating appreciable vs. some reduction in expenditures was relatively
more pronounced for the smaller firms
and less marked for the larger firms.
An internal check was made on the
consistency of the answers to the parts
of the questionnaire tabulated in table
August 1967
3 and those tabulated in tables 1 and 2.10
It shows that only a few firms which attributed to financial market developments the principal responsibility for an
appreciable downward adjustment in
1966 plant and equipment programs
(question 2g) did not also indicate that
such developments had caused at least
some reduction in expenditures (question 5a). Information obtained from preliminary interviews with some of these
firms suggests that when they attributed
to financial market developments a responsibility for downward adjustments,
they were referring to the indirect impacts of such developments through
their customers; consequently, in question 5a they were specifically requested to exclude such impacts. There
were more differences between the two
sets of answers among „ firms giving
financial market developments as a
major but not the principal reason for
an appreciable downward adjustment
in outlays; most of these were among
the smallest firms with less than
$500,000 in plant and equipment expenditures. A higher proportion of the
larger than of the smaller firms
answered both questions affirmatively.
A relatively high proportion of the
firms which answered that financial
market developments had resulted in
some reduction in their expenditures
did not also indicate that as a result
actual outlays were appreciably below
those anticipated, either because this
impact was considered to be rather
small or because other factors intervened with offsetting effects. (See
table 3, lines 3 and 4.) A comparison
of the answers to these questions with
the distribution of the percentage reduction in expenditures (lines 6a-6e)
leads to the interesting inference that
the smallest firms were likely to consider only disparities between actual
and anticipated outlays of 10 to 25
percent or more as appreciable, whereas the largest firms were likely to consider disparities of 5 percent or more
as appreciable.
10
As one might expect, a much higher proportion of firms
with 1966 plant and equipment expenditures below those
programed early in that year than of other firms stated that
financial market developments had occasioned some reduction in their expenditures.
SUEVEY OF CUREENT BUSINESS
15
different size groups. (See chart 9; for
basic
data, see table 3, lines 1 and 3.)
Table 3 indicates that the number
However,
there was substantial variaof firms stating that they had made
tion
in
the
relative magnitude of the
some reduction in plant and equipment
effect
for
firms
curtailing their expendiexpenditures as a result of financial
tures,
with
smaller
firms much more
market developments increased throughstrongly
influenced
on
the average than
out 1966. A relatively small number
larger
firms.
of firms were affected in the first
The average percentage effect for
quarter of the year. The rate of growth
firms
curtailing outlays may be approxiin the number affected picked up
mated
for nonfinancial firms within
in the second and third quarters but
each
size
class from the two-way
moderated in the fourth quarter.
distribution
of these firms by asset
Nevertheless, the final quarter of the
size
and
by
size
of the reduction due to
year showed a peak number of firms
financial
market
developments (table 3,
affected in all of the four size classes.
lines
6a-6e)
and
for
financial firms from
The data used to compile this table
a
one-way
distribution
by size of reducalso make possible a rough estimate of
tion
(table
4,
lines
6a-6e).
Two types of
the quantitative impact of monetary
averages
were
used
for
this
purpose, the
restrictions on plant and equipment
estimated
median,
which
probably
unexpenditures in 1966, and constitute
derstates
the
true
mean,
and
the
perhaps the first plausible evidence on
average
obtained
by
assuming
that
the
the overall impact of monetary policy
mean
for
each
percentage
reduction
on such outlays during any period.
Only 5.3 percent of the total number class interval was at its midpoint, which
11
of firms responding indicated that they probably overstates the true mean.
had made some reduction in expenditures as a result of financial market
u For the 50 percent or more class, the average reduction—
developments, and there was relatively which has as its base actual plant and equipment expenditures—was assumed to be 75 percent, and this may be unduly
little variation in this proportion among large, again contributing to overstatement of the true mean.
Timing and magnitude of impact
Principal Factors Responsible for Deviations Between Anticipated and Actual
Plant and Equipment Expenditures of Manufacturers, 1949,1955, and 1966
Factors INCREASING Expenditures: 1
Factors DECREASING Expenditures: 1
Sales Outlook
- 80
Net Earnings
- 60
Timing of Equipment Deliveries
and/or Construction Progress
Plant and Equipment Costs
- 40
Financial Market Conditions
—
1949
1955
All Other Factors
1966
Percent of principal factors cited by manufacturers.
1. Changes in actual expenditures from anticipations reported early in specified year in OBE-SEC survey.
U.S. Department of Commerce, Office of Business Economics
- 20
1949
1955
1966
16
SURVEY OF CUKRENT BUSINESS
August 1967
size class of nonfinancial business is
obtained by multiplying the average
percentage reduction of affected firms
by the plant and equipment expenditures of affected firms and dividing by
total plant and equipment expenditures
of all sample firms in that size class.
The corresponding ratio for financial
business is obtained simply as the
product of the percentage of all sample
financial firms reporting some reductions in expenditures o as a result of
financial market developments and the
average percentage reduction of affected firms in that industry (with both
percentages expressed in ratio form).
Reasonably reliable data are available on the universe distribution of
plant and equipment outlays in nonfinancial business by asset-size class
and in financial business as a whole for
the $60.6 billion aggregate of expenditures in 1966 covered by the, periodic
OBE-SEC surveys—which is essen-
tially the universe sampled in our special survey. However, perhaps a more
useful universe for purposes of general
economic analysis is the comprehensive
total of $75.0 billion for nonfarm nonresidential fixed investment appearing
in the national income and product
accounts and including outlays of nonprofit institutions, real estate companies
and professionals, capital outlays in oil
and gas well drilling charged to current
account, and a number of smaller
items. The estimated size distribution
of the difference between the national
accounts aggregate and the investment
covered by the periodic surveys is
subject to considerably more error than
the OBE-SEC distribution but not
enough to affect our results significantly.
If we use the $75.0 billion total and
assume that the survey results are
representative of all industries included
in the national accounts aggregate,
the estimated reduction in 1966 plant
On the basis of the medians, the average
percentage reduction for affected firms
ranged from 19.1 percent for the smallest nonfinancial firms to 9.0 percent for
the largest nonfinancial firms. On the
basis of the second set of averages, the
corresponding figures ranged from 27.8
percent to 13.2 percent.
Estimation of national impact for
1966
The overall impact of monetary
restrictions on plant and equipment
expenditures in 1966 was estimated by
first computing the sample ratio of the
reduction in expenditures resulting from
financial market developments to the
aggregate outlays in each size class of
nonfinancial business and in all financial
business and then multiplying this ratio
by the universe distribution of plant
and equipment outlays among thse
categories. The sample ratio for each
Table 2—Principal Factors Responsible for Deviations Between Anticipated
Nonfinancial firms only
Under $1,000,000 assets
Number of firms reporting changes from expectations in—
Increasing
outlays 3
Decreasing
outlays 3
Number *
1. Sales outlook--.
- .„ _
Firms with sales above expectations
Firms with sales below expectations
Firms not specifying direction
$1,000,000 to $9,999,999 assets
Increasing
outlays 3
Decreasing
outlays 3
Decreasing
outlays 3
Number 4
Percent
14
13
1
0
2
0
2
0
2. Current expenses.. ._ -
0
2
.0
12.5
3 . N e t earnings
_
_ _ _ _ _ _
Firms with earnings above expectations
Firms with earnings below expectations _ __ _
Firms not specifying direction
6
5
1
0
2
0
2
0
11.8
12.5
27.5
Increasing
outlays 3
12.5
Increasing
outlays 3
Decreasing
outlays 3
Percent
7
1
6
0
24.7
6
2
3.7
2.3
10
8
2
0
10
0
10
0
6.2
11.4
40
37
1
2
8.0
4. Working capital requirements
1
1
2.0
6.2
8
7
4.9
8.0
5. Timing of deliveries and/or construction progress
5
2
9.8
12.5
14
23
8.6
26.1
3
3
0
0
0
0
0
0
5.9
.0
10
10
0
0
4
1
1
2
6.2
4.5
7. Financial market conditions
Firms mentioning availability and cost of debt financing
Firms,mentioning availability and cost of equity financing
2
2
0
2
1
1
3.9
12.5
1
1
13
12
1
.6
14.8
0
8. Technological developments
2
0
3.9
.0
18
3
11.1
3.4
9. Investment tax credit 5
0
0
.0
.0
2
7
1.2
8.0
10. Mergers or acquisitions 5 .
2
0
3.9
.0
15
2
9.3
2.3
1 1 . Routine underestimation or overesti mation 5
4
3
7.8
18.8
17
4
10.5
4.5
12. Accidental damage 5
5
0
9.8
.0
4
0
2.5
.0
7
2
13.7
12.5
17
6
10.5
6.8
51
16
100.0
100.0
162
88
100.0
100.0
6. Plant and equipment costs (viz, prices paid)
Firms with costs above expectations
Firms with costs below expectations
Firms not specifying direction _ _ . ,
13. All other factors
Totals e _
_._
_
_. _ _ _
_
_ _
1. Based on "principal" factors cited by firms answering "yes" to question: "Were your actual 1966 expenditures for plant and equipment changed appreciably, either in terms of aggregate dollar amount or in composition or form, from those expected early that year?"
2. Includes financial institutions as well as a small number of nonfinancial firms for which asset-size information was not available.
3. Increasing (decreasing) outlays refer to 1966 expenditures higher (lower) than those anticipated by the firm in early 1966.
SUKVEY OF CURRENT BUSINESS
August 1967
and equipment expenditures as a result
of financial market developments ranges
from $370 million if the sample median
percentage reductions are used to $560
million if the sample "means" are used;
the average is somwhat under $500
million.12
This estimate of the effect of financial market developments on 1966
plant and equipment expenditures, although probably the best available,
is still subject to a considerable margin of error. Even if the data reported
by the sample were impeccable, the
blowup procedures might bias the
results somewhat in either direction.
On the one hand, such items as plant
and equipment outlays of nonprofit
institutions and professionals and capital outlays for oil and gas well drilling
12 Using the less inclusive $60.6 billion total, for which the
survey results are more representative, the estimated reduction ranges from $300 million to $450 million.
17
charged to current account seem likely
It could also be argued, in spite of
to be relatively insensitive to monetary the relatively high response rate in
restrictions; these items represent well the special survey, that the nonrespondover half of the difference between ents might have reacted differently
the national accounts aggregate and from the respondents. Here again it
the investment covered by the periodic might be anticipated that, other things
surveys. On the other hand, the cap- being equal, firms significantly affected
ital outlays of real estate companies, by financial market developments
which constitute somewhat under one- would be the most likely to fill in the
fifth of this difference, are probably questionnaire (at least when size of
quite sensitive.
firm is held constant). On the other
Another possible source of error hand, some firms may have been
is reporting bias. It could be argued deterred from giving an affirmative
that there is some incentive to exag- answer on the effect of financial market
gerate the effect of monetary tightness developments by the larger number
since any deflationary type of Govern- of questions they were asked.13
ment intervention may be unpopular
As was previously mentioned, a
in the business community, but there number of firms classified the voluntary
is no reason to believe that any such restraint on investment urged by the
bias is significant. Furthermore, if such
a bias exists at all, it would seem more
"However, firms could indicate that they had reduced
likely to overstate than to understate their 1966 (or 1967) investment because of financial market
developments in 1966 without answering the subsequent,
the estimated reduction in 1966 plant more
detailed questions—an option that a few companies
and equipment expenditures.
followed.
and Actual Plant and Equipment Expenditures in 1966 * by Asset Size of Firm
Nonfinancial firms only — Continued
$10,000,000 to $49,999,999 assets
Increasing
outlays 3
Decreasing
outlays 3
Increasing
outlays 3
Number 4
All firms
$50,000,000 assets and over
Decreasing
outlays 3
Increasing
outlays 3
Increasing
outlays 3
Decreasing
outlays 3
Number 4
Percent
7
0
7
0
2
0
2.4
.0
2
2
0
0
4
1
2
1
2.4
5.7
0
0
0
0
2
0
10.0
Decreasing
outlays 3
Increasing
outlays 3
Decreasing
outlays 3
Number 4
5
1
4
0
29.2
1
0
1.1
.0
0
2
.0
1.6
26
20
4
2
Increasing
outlays 3
Percent
31
27
0
4
36.5
2
4.0
Decreasing
outlays 3
Percent
6.5
21
2
19
0
26.5
9
5
2.1
1.6
18
15
3
0
18
1
16
1
4.3
5.6
112
98
6
8
0
3
.0
4.3
2
4
2.3
3.2
11
15
2.6
4.7
15
32
17.6
45.7
17
79
19.1
63.7
69
154
16.3
47.8
7
6
0
1
1
0
1
0
8.2
1.4
8
5
0
3
2
0
1
1
9.0
1.6
31
26
1
4
8
1
4
3
7.3
2.5
0
0
0
7
6
1
.0
10.0
1
0
1
12
12
0
1.1
9.7
4
2
2
35
31
4
.9
10.9
2
2
2.4
2.9
2
1
2.3
.8
27
6
6.4
1.9
0
6
.0
8.6
0
3
.0
2.4
2
16
.5
5.0
10
2
11.8
2.9
10
4
11.2
3.2
40
8
9.5
2.5
3
0
3.5
.0
5
1
5.6
.8
31
9
7.3
2.8
2
1
2.4
1.4
0
0
.0
.0
11
1
2.6
.3
11
5
12.9
7.1
17
11
19.1
8.9
58
26
13.7
8.1
85
70
100.0
100.0
89
124
100.0
100.0
423
322
100.0
100.0
4. Not all firms specified the principal factor. Where only one major factor was indicated, this was taken to be the principal one.
5. Specified under "other factors" in the questionnaire.
6. Percentage components may not add to 100 percent because of rounding.
Sources: U.S. Department of Commerce, Office of Business Economics, and Securities and Exchange Commission.
269-653 O - 67 - 3
18
Administration as a financial development that caused a reduction in their
outlays; this would tend to overstate
somewhat the estimated effect of monetary tightness in 1966. Similarly, the
absence of quantitative data on the
extent to which financial market developments increased planned expenditures, largely through anticipatory
effects, results in some, though presumably a small, overstatement of the
effect of monetary tightness. As an
offset, neither the regular OBE-SEC
survey nor the special followup survey
includes new businesses or businesses
that did not get started because of
monetary stringency. This would probably tend to understate somewhat the
overall impact of the 1966 developments on capital outlays by U.S.
industry, but again the effect is likely
to be small.
On balance, the $500 million figure
appears to be a reasonable estimate of
SUEVEY OF CURRENT BUSINESS
the 1966 impact on this sector of the
economy. Although this figure might be
subject to an error of as much as 50
percent in either direction, the total
impact is obviously a very small
fraction of aggregate plant and equipment expenditures.
The $500 million estimate is, of
course, designed to cover only the
direct effects of financial market developments on 1966 plant and equipment expenditures. This figure would
presumably have to be increased somewhat as an estimate of the total effect
of monetary and credit stringency on
plant and equipment expenditures if
complete allowance were made for
indirect effects. The total impact on
1966 GNP would of course be moderately larger than the investment reductions because of the short-run multiplier
effect of these reductions on business
activity generally.
August 1967
Impact by size of firm
As was noted earlier, although there
did not appear to be much difference
in the proportion of smaller and larger
firms affected at least to some extent
by monetary tightness in 1966, the
relative magnitude of the effect was
much greater for the smaller firms.
This presumably reflects mainly the
readier access of the large firms to the
financial markets, particularly in a
period of credit rationing, but it may
also reflect a greater ability of the
larger firms to predict financial market
developments.
Only about one-fourth of the firms
that reduced their plant and equipment expenditures in 1966 as a result
of financial market developments did
not plan to carry out some of this
postponed investment in 1967. The
proportion of expenditures either canceled or postponed beyond 1967 was
higher for the smaller asset classes than
Table 3.—Reductions in 1966 Plant and Equipment Expenditures Resulting From 1966 Financial Market Developments: Number of Firms
by Asset Size
Nonfinancial firms only
All firms i
$1,000,000 to
Under
$1,000,000
$10,000,000 to
$49,999,999
$50,000,000
and over
All sizes
1. All firms
answering question on 1966 impact of financial market developments (question
5a) 2
2. Number indicating no reductions (question 5a) 2
847
802
1,533
1,439
817
773
703
666
3,900
3,680
4,275
4,047
3. Number indicating reductions in plant
and equipment expenditures because of financial
market developments (question 5a) 2
_
45
94
44
37
220
228
35
20
26
100
101
18
47
143
165
18
49
149
170
4. Number indicating both reductions in plant and equipment expenditures (question 5a)
and financial market conditions as a factor accounting
for an appreciable deviation between actual and planned expenditures (question 2g) 2
_
5. Number indicating significant reductions occurring in (question 6) 2 3:
a. First quarter
b. Second quarter
c. Third quarter
d. Fourth quarter
_
_.
_
6. Number indicating reductions amounting to (question 7) 2:
a. Less than 5 percent of actual plant and equipment expenditures
b. 5 percent to 9.9 percent
c. 10 percent to 24.9 percent
d. 25 percent to 49.9 percent
e. 50 percent or more
f. Amount not specified
7. Number expecting to carry out in 1967 (question 10) 2:
a. None of the eliminated 1966 plant and equipment expenditures
b. Some of the eliminated 1966 plant and equipment expenditures
c. Most of the eliminated 1966 plant and equipment expenditures
d. All of the eliminated 1966 plant and equipment expenditures
e. Not specified
_
8. Number mentioning as cause of reductions (question 9) 2:
a. Rise in interest rates, total *
Business outlook effect
Cost of financing effect
_
_
b. Decline in the stock market, total 4
Business outlook effect
Cost of financing effect
c. Difficulties in raising funds from financial institutions, total 4
Unattractiveness of lending conditions (other than interest rates)
Unwillingness of institution to supply desired funds
d. Difficulties in raising funds from capital markets, total 4 .
Unattractive terms (other than offering price or yield)
Unwillingness of underwriters to handle issue
e. Other financial market developments
1. Includes financial institutions «s well as a small number of nonfinancial firms for which
asset-size information was not available.
2. Question numbers refer to questionnaire (see Technical Notes).
3. Some firms indicated more than 1 quarter.
4. Includes firms which indicated both, or which did not distinguish between, (a) business
23
54
80
34
23
14
53
101
36
54
106
36
9
22
163
72
126
36
26
14
95
33
69
19
10
7
43
167
76
126
36
26
14
95
33
69
19
10
7
46
outlook and cost of financing effects and/or (6) unattractiveness of lending conditions and
unwillingness of institutions to supply desired funds.
Sources: U.S. Department of Commerce, Office of Business Economics, and Securities and
Exchange Commission.
August 1967
SURVEY OF CURRENT BUSINESS
for the largest. A relatively small
proportion of firms in all size classes
planned to restore in 1967 all of the
cutbacks in their 1966 plant and equipment programs related to financial
market developments. The great majority of the firms planned to make up
"some" or "most" of these 1966 investment reductions in 1967, with "some"
a more common response than "most,"
particularly for the smaller size classes.
Interest rates most important
The firms that indicated a reduction
in then- 1966 plant and equipment
expenditures as a result of financial
market developments most commonly
attributed the reduction to the rise in
interest rates. The rise in interest rates
was considered important more often
because of its impact on the firm's cost
of borrowing than because of its influence on the firm's appraisal of the
general business outlook. This was
especially true of the firms in the larger
size classes, which were much less concerned than the smallest companies
with the impact of higher interest rates
on the general business outlook. It may
be recalled that the impact on the firm's
cost of borrowing is more clearly
autonomous than the influence on the
firm's appraisal of the general business
outlook, much of which may be regarded as indirect at least in a longer
run perspective.
The second most common reason
given for the reduction in 1966 expenditures was difficulty in raising
funds from banks or other financial institutions, a type of capital rationing
effect; this again is addressed primarily
to the cost of borrowed rather than
equity funds. Here, the unwillingness of
institutions to supply the desired funds
seemed more important than the unattractiveness of lending conditions
other than interest rates.
The decline in the stock market was
cited much less frequently as a financial
market development accounting for the
reduction in 1966 expenditures, and
difficulty in raising funds from the
capital markets (either stock or bond)
was cited even less often. It is interesting, though perhaps not surprising, that
unlike the situation in the bond market,
19
the decline in the stock market was
considered important more often because of its effect on the firm's appraisal of the general business outlook
than because of its implications for the
firm's cost of equity capital. However,
this was more true of firms in the
smallest size class than of firms generally. Although there were no consistent differences in the proportions of
companies in the various size classes
that were affected by stock market developments, it should be noted that
this finding has no necessary implications for the relative access to stock
financing by smaller firms, since such
firms may have planned to rely less on
stock issues for financing their capital
programs than the larger companies.
In contrast, the relative magnitude of
the reduction in 1966 outlays was
smaller for the typical utility firm than
for other firms; however, it is not possible to determine the extent to which
this simply reflects the larger average
size of the utilities.
For the utilities, the rise in interest
rates was somewhat more important
and the decline in the stock market
somewhat less important than for the
other firms which stated that they had
reduced their 1966 plant and equipment expenditures because of financial
market developments. Moreover, to a
much greater extent in the utilities
than in the other industries, it was the
cost of financing rather than the business outlook effect that predominated.
Industry
Other findings for 1966
differences
Table 4 presents a breakdown by
industry rather than by assets for firms
stating that they had made some reduction in 1966 plant and equipment
expenditures as a result of financial
market developments. In view of the
relatively small number of firms indicating some reduction, only five industry groups are segregated, viz., manufacturing, utilities (including communications) , finance, trade, and an all-other
category, which includes railroads, airlines, trucking, pipelines, construction,
services, and mining. The proportion of
firms affected by monetary restrictions
in 1966 was greater for the utilities than
for any other group. This apparently
cannot be attributed to the larger
average size of the utilities since, at least
for nonfinancial industries combined,
there was not much difference in the
proportion of smaller and larger firms
affected by monetary tightness in 1966.
For the firms indicating reduced 1966
plant and equipment expenditures due
to financial market developments, some
additional breakdowns were carried out:
Actual sales and earnings were related
to expectations (above or below^ expectations as indicated by questions
2a* and 2c**), and manufacturing firms
were classified by the percentage of
capacity utilized (in June 1966 as indicated in periodic reports to OBESEC). The more interesting findings
may be summarized briefly. A very
much higher proportion of firms with
sales or earnings below expectations
than of firms with sales or earnings
above expectations stated that they had
cut their expenditures because of financial developments. Similarly, firms operating at a low percentage of capacity
were more prone to reflect the effects of
monetary tightness than firms generally,
and the magnitude of the impact was
also likely to be greater.
Effects on 1967 Plant and Equipment Programs
The impact of 1966 financial market
conditions was somewhat stronger on
anticipated plant and equipment expenditures for 1967 than on actual 1966
expenditures. Table 5 presents basic
data on the number of firms reporting
reductions in 1967 investment plans,
the magnitude of these reductions, and
the particular aspects of financial market
conditions that were primarily responsible. Table 6 shows comparative data,
derived from tables 3 and 5, on the
effects of credit stringency on 1966
investment and 1967 investment plans.
(See also chart 10.)
For all firms combined, including fi-
20
SUEVEY OF CUEEENT BUSINESS
nancial institutions, the percentage of
respondents indicating a reduction in
plant and equipment expenditures rose
from 5.3 percent for 1966 to 8.5 percent
for 1967. There was little variation
among size groups, except that the $1
million to $10 million asset class showed
higher proportions than other classes
in both years. The average percentage
reduction for affected firms declined
steadily with size in both years but
less sharply in 1967. The aggregate reduction ranged from one-half of 1 percent of aggregate expenditures to a
little over 1 percent in 1966 and from 1
to 2 percent in 1967, doubling for the
largest size class but showing smaller
increases elsewhere.
Estimated national impact for 1967
An estimate of the dollar reduction
in 1967 investment plans for the Nation
as a whole may be obtained by a procedure similar to that described for
estimating the overall impact on 1966
plant and equipment outlays. Under
the assumption that the 1967 programs
of firms reporting reductions were on
the average similar in magnitude to
the 1966 expenditures of the same firms,
the reduction within each size class of
nonfinancial business can be estimated
for the sample from the 1966 outlays
of the affected firms and from the average percentage reduction reported in
1967 programs.14 The total reduction
for financial institutions in the sample
may also be obtained in much the same
way.
As was indicated previously, nationwide estimates of plant and equipment
expenditures derived from the national
income and product accounts are available for 1966 by size class for nonfinancial business and for financial business
as a whole (though the universe figures
represent a somewhat broader coverage
of industries and expenditure items
than the OBE-SEC series and the
sample results are therefore not fully
representative of the universe). Multiplying the sample reduction in 1967
programs by the 1966 ratio of universe
outlays to outlays for all sample firms
within each class and summing over
classes, we obtain an estimated reduction of $940 million in 1967 programs
for nonfarm fixed business investment.
This is probably subject to some upward bias for reasons already indicated
in our discussion of the method of
calculation. Furthermore, since less
than 30 percent of the firms with
reduced 1966 outlays were included
among those reducing 1967 programs, a
partial offset to the estimated reduction
Reductions in 1966 Plant and Equipment
Expenditures Resulting From 1966 Financial
Market Developments1
•
Percent of firms indicating reductions in expenditures
5.3
6.1
5.4
5<3
Average percent reduction in expenditures
for affected firms
27.8
24.7
19.7
13.2
Aggregate reductions as a percent of expenditures
of all firms in size class
0.9
Under
$1 mil.
1.2
$l-$9.9
mil.
0.8
$10-$49.9
mil.
0.5
$50 mil.
& over
ASSET SIZE CLASSES
1. Reductions in actual expenditures from what they might otherwise have been
because of developments in the 1966 money and capital markets.
U.S. Department of Commerce, Office of Business Economics
67-8-9
14
The average percentage reduction of affected firms,
which has as its base programs after the reduction due to
credit stringency, was computed from the frequency distribution in lines 4a-4e of table 5—utilizing the midpoint for
each closed-end class interval and a value of 75 percent for
the open-end interval. This procedure probably leads to
some upward bias in the average, which considerably exceeds the estimated median for the frequency distribution.
Further overstatement of the aggregate sample reduction
in 1967 programs may arise because the programs of the firms
affected, since they are known to have been reduced because
of credit restraint, may in fact be expected to fall a little
short of the 1966 expenditures of these firms. However, an
offsetting consideration is the prospective moderate rise in
1967 investment expenditures over 1966 as reported in the
OBE-SEC survey.
August 1967
presumably results from the fact that
one-fifth of the former group expected
to carry out most or all of the eliminated
projects during 1967, while an additional 50 percent planned to carry out
at least some of the eliminated investment. Thus, the net effect of the
1966 credit stringency on 1967 plant
and equipment programs may be well
under $1 billion.15 The margin of error
in the $940 million estimate may be as
much as 50 percent in the downward
direction but less in the upward direction because of the predominance of
considerations that are expected to
lead to upward bias.16 It is quite likely
that, in view of the wording of the
questionnaire, this figure includes a
somewhat higher proportion of indirect
effects than the estimate for 1966.
The relatively slow reaction of the
largest firms to the 1966 credit stringency is suggested by the greater increase from 1966 to 1967 in the aggregate percentage reduction in fixed
investment, as compared with smaller
firms. This slow reaction is not unexpected in view of the greater formality
and rigidity of the capital programs of
the largest firms, the long lead times for
much of their equipment, and perhaps
their more advanced arrangements for
financing. This evidence of a lag in the
response of larger firms confirms the
suggestion implicit in the distribution
by quarters of reductions in 1966
investment. It may be noted from lines
5c-5d of table 3 that the number of
» This is much smaller than the estimated impact on 1967
plant and equipment programs of the suspension of the
investment tax credit and of certain accelerated depreciation
procedures. According to a special OBE-SEC survey on
the impact of the investment tax credit suspension (enacted
November 8, 1966, and retroactive to October 10, 1966), it
was estimated that 1967 plant and equipment expenditures
would be reduced by $2.3 billion. It should be noted that this
survey was undertaken before the suspension was revoked
in June 1967 retroactive to March 10,1967.
i6 The estimated national impact is more subject to upward
bias for 1967 programs than was the case for 1966 outlays.
First, for affected firms the average percentage reduction
used in the computations was based on the midpoints of class
intervals (whereas in the 1966 estimate an intermediate
value between the upward-biased average and the downward-biased median was used). Secondly, the offset—in
terms of the high proportion of firms adding some or all of the
expenditures eliminated in 1966 to their 1967 programs—is
believed to be larger in 1967 (though even in 1966 some offset
existed since a few firms reported increases in capital programs as a result of credit restraint). It may be inferred that
a very substantial proportion of firms reporting reductions
in 1966 but not in 1967 programs must have increased the
latter as a result of 1966 credit conditions. Even firms reporting reductions in both years may have failed to "net out"
the expenditures postponed from 1966 to 1967 in reporting
the reductions in their 1967 programs, thus overstating the
impact on the latter.
SURVEY OF CURRENT BUSINESS
August 1967
21
Table 4.—Reductions in 1966 Plant and Equipment Expenditures Resulting From 1966 Financial Market Developments: Number of Firms
by Major Industry
1. All firms answ
ering question on 1966 impact of financial market developments (question 5a) 3
2. Number indicating no reduction (question 5a)
3
All
Industries
All other *
Trade
Finance
Utilities *
Manufacturing
2,022
205
364
894
790
4,275
1,917
188
356
836
750
4,047
58
40
228
29
19
101
3. Number indicating reduction in plant3and equipment expenditures because of financial
market developments (question 5a)
105
4. Number indicating both reduction in plant and equipment expenditures (question 5a)
and financial market conditions as a factor accounting for
an appreciable deviation
between actual and planned expenditures (question 2g) 3
40
12
5. Number indicating significant reductions occurring in (question 6) 3 4 :
a. First quarter
b. Second quarter
,
c. Third quarter
d. Fourth quarter
18
49
149
170
6. Number indicating reduction amounting to (question 7) 3:
a. Less than 5 percent of actual plant and equipment expenditures
b. 5 percent to 9.9 percent
c. lOpercent to 24.9 percent
d. 25 percent to 49.9 percent
e. 50 percent or more
f. Amount not specified
23
54
80
34
23
14
7. Number expecting to carry out in 1967 (question 10)3:
a. None of the eliminated 1966 plant and equipment expenditures
b. Some of the eliminated 1966 plant and equipment expenditures
c. Most of the eliminated 1966 plant and equipment expenditures
d. All of the eliminated 1966 plant and equipment expenditures
e. Not specified
54
106
10
22
3
8. Number mentioning as cause of reduction
(question 9) :
a. Rise in interest rates, total 6
Business outlook effect
Cost of financing effect
b. Decline in the stock market, total 5
Business outlook effect
Cost of financing effect
c. Difficulties in raising funds from financial institutions, total'
Unattractiveness of lending conditions (other than interest rates)
Unwillingness of institution to supply desired funds
d. Difficulties in raising funds from capital markets, total 5
Unattractive terms (other than offering price or yield)
Unwillingness of underwriters to handle issue
e. Other financial market developments
1.
2.
3.
4.
Includes communications.
Includes transportation, construction, mining, and services.
Question numbers refer to questionnaire (see Technical Notes).
Some firms indicated more than one quarter.
167
76
126
36
26
14
95
33
69
19
10
46
5. Includes firms which indicated both, or which did not distinguish between, (a) business
outlook and cost of financing effects, and/or (b) unattractiveness of lending conditions and
unwillingness of institutions to supply desired funds.
Sources: U.S. Department of Commerce, Office of Business Economics, and Securities and
Exchange Commission.
Table 5.—Reductions in 1967 Plant and Equipment Expenditure Plans Resulting From 1966 Financial Market Developments: Number of
Firms by Asset Size
Nonfinancial firms only
Under
$1,000,000
$1,000,000 to
$9,999,999
$10,000,000 to
$49,999,999
$50,000,000
and over
All sizes
All firms i
1. AH firms answering question
on impact of 1966 financial market developments on 1967
programs (question lla) 2
684
1,365
761
692
3,502
3,824
2. Number indicating no reduction in 1967 programs (question lla)2
624
1,228
700
632
3,184
3,498
60
137
61
60
318
326
32
77
122
38
20
29
32
80
123
40
21
30
248
128
174
59
48
17
114
51
65
18
11
6
70
251
130
175
59
48
17
114
51
65
18
11
6
73
3. Number indicating reduction in 1967 programs (question lla) 2
4. Number indicating reduction amounting to (question 12)2:
a. Less than 5 percent of programed plant and equipment expenditures..
b. 5 percent to 9.9 percent
c. 10 percent to 24.9 percent
d. 25 percent to 49.9 percent
e. 50 percent or more
..
f. Amount not specified
5. Number mentioning as cause of reduction
(question 13)2:
a. Rise in interest rates, total 3
Business outlook effect
Cost of financing effect
b. Decline in the stock market, total 3
Business outlook effect.
._
Cost of financing effect
c. Difficulties in raising funds from financial mstitutions» total 3
Unattractiveness of lending conditions (other than interest rates).
Unwillingness of institutions to supply desired funds
d. Difficulties in raising funds from capital markets, total 3
Unattractive terms (other than offering price or yield)
Unwillingness of underwriters to handle issue
e. Other financial market developments
1. Includes financial institutions as well as a small number of nonfinancial firms for which
asset-size information was not available.
2. Question numbers refer to questionnaire (see Technical Notes).
3. Includes firms which indicated both, or which did not distinguish between, (a) business
105
52
78
32
26
8
53
20
33
31
outlook and cost of financing effects, and/or (b) unattractiveness of lending conditions and
unwillingness of institutions to supply desired funds.
Sources: U.S. Department of Commerce, Office of Business Economics, and Securities and
Exchange Commission.
SURVEY OF CURRENT BUSINESS
22
August 1967
firms reporting reductions rose by onefourth from the third to the fourth
quarter of 1966 for the two largest
size classes but only by about half that
percentage for the smaller firms*.
mentioning the business outlook rather important factor for over one-third
than the cost of financing and thus of the firms reducing 1967 programs.
probably reflects in large part indirect The effect of the stock market decline
or expectational effects associated with is higher than in 1966 for the two
actual or expected failure of sales to middle size groups, affecting more than
grow as rapidly as in the absence of one-fifth of the firms in this range,
Business outlook more important
but lower for the two extreme groups.
The responsibility attributed to par- credit restraints.
As in the case of interest rates, the
Difficulty in raising funds from in- business outlook aspect increases in
ticular aspects of 1966 credit conditions is much the same for reductions termediaries is mentioned less fre- importance from 1966 to 1967 relative
in 1967 programs as for reductions in quently, particularly by the largest to the cost aspect, particularly for the
1966 expenditures, but some differences and smallest firms, but it is still an larger firms.
may be noted. (See table 6, lines 4-7.)
For the two largest size groups, the
proportion of affected firms mentioning the rise in interest rates is substantially higher in the case of the
1967 programs, rising to between 87
percent and 90 percent. However, the
The impact of 1966 credit conditions of end-of-year inventory levels for the
increase is due almost entirely to those on 1966 inventory investment appears three smallest size classes and 7 percent
to be about the same in dollar value as for the largest, with three-eighths of
on fixed investment, and again there the firms indicating reductions in excess
is some suggestion of an increased reac- of 10 percent.17 Information as to the
tion in 1967. Table 7 presents basic data magnitude of the reduction was not
Reductions in 1967 Plant and Equipment
on the frequency and magnitude of re- available for 1967 investment plans.
Expenditure Programs Resulting From 1966
ported reductions in 1966 inventory in- Some firms may have reported their
Financial Market Developments1
vestment and on the particular financial 1966 reductions as percentages of their
market conditions to which these were
Percent of firms indicating reductions in programs
attributed, while table 8 compares the
87
effects
of credit stringency on actual
"
8.0 8.2
1966 and planned 1967 inventory
Reductions in 1966 Inventory Investment
investment.
For all firms combined, including Resulting From 1966 Financial Market
financial institutions, only 3.7 percent Developments1
of the respondents and only 1.0 percent 1 Percent of firms indicating reductions in
Average percent reduction in programs
of firms with assets over $50 million
for affected firms
inventory investment
reported reductions in 1966 inventory
4.7
23.4
investment. However, the percentage
21.1
1.0
for all firms rose to 6.6 percent for 1967
17.6
investment plans. The largest firms
15.9
showed the greatest increase though
they still reported reductions less fre- • Average reduction as a percent of yearend
inventories for affected firms
quently than smaller firms, especially
10.7
10.6
10.6
those in the $1 million to $10 million
asset size class (chart 11). In both years,
7.0
the percentage of firms affected was
higher for the trade group than for
Aggregate reductions as a percent of programs
other major industry groups (table 9).
of all firms in size class
When reductions occurred, their average
size was surprisingly large. In 1966, 1 Aggregate reduction as a percent of yearend
2.0
inventories of all firms in size class
they amounted to almost 11 percent
Effects on Inventory Investment
0.6
17
$50 mil.
& over
Under
$1 mil.
ASSET SIZE CLASSES
1. Reductions in planned 1967 expenditures from what they might otherwise have
been because of developments in the 1966 money and capital markets.
U.S. Department of Commerce, Office of Business Economics
67-8-10
The average percentage red uction, which has as its base
actual yearend inventories at book value, was computed
from the frequency distribution shown in lines 5a-5d of
table 7, utilizing the midpoints of the closed-end class intervals. The open-end interval is troublesome in this case
because of the apparently high relative frequency (which
may be due to misinterpretation of the questionnaire). An
estimated mean of 20 percent, which is probably on the high
side, was arbitrarily assigned to this class.
Under
$1 mil.
$l-$9.9
mil.
$10-$49.9
mil.
$50 mil.
& over
ASSET SIZE CLASSES
1. Reductions in actual investment from what it might otherwise have been
because of developments in the 1966 money and capital markets.
U.S. Department of Commerce, Office of Business Economics
67-8-11
SUKVEY OF CURKENT BUSINESS
August 1967
1966 inventory investment rather than
their total yearend holdings; in that
case, the estimate derived below of the
overall impact on 1966 inventory outlays may represent a considerable overstatement.
The aggregate reduction in 1966
inventory investment within each size
class of nonfinancial business may be
estimated for the sample from the
23
of the nationwide estimate of $151
billion for inventories held by nonfarm,
nonfinancial business in 1966, we estimated the overall impact of credit
restraint on outlays for such inventories
in that year by multiplying the aggregate sample reduction in dollar terms,
as described above, by the ratio of
universe-to-sample inventory levels for
each size class and summing over
yearend inventory holdings of affected
firms and the average percentage reduction that they reported in these holdings.
Expressed as a fraction of yearend
stocks of all responding firms, the
aggregate reduction decreased sharply
with size from 0.6 percent to 0.1 percent.
Estimation of national impact
Utilizing a distribution by size class
Table 6.—Impact of 1966 Financial Market Developments on 1966 Plant and Equipment Outlays and 1967 Programs, Nonfinancial Firms
by Asset Size
[By percent]
1967 programs— Firms with assets of—
1966 outlays — Firms with assets of —
Under
$1,000,000
1. Percentage of firms indicating reduction irr outlays. 2. Average percentage reduction for affected firms
l
- .__ _
_
3. Aggregate
reduction as a percentage of outlays for all firms in size
class 2 _ _
4. Percentage of affected firms mentioning rise in interest rates as cause
of reduced outlays
$1,000, ,000
$10,000,000
to $9,999,999 to $49,999,999
Under
$1,000,000
$50,000,000
and over
$1,000,000
$10,000,000
to $9,999,999 to $49,999,999
$50,000,000
and over
5.3
6.1
5.4
5.3
8.8
10.0
8.0
8.7
27.8
25.3
19.7
13.2
23.4
21.1
17.6
15.9
.92
1.19
.82
.50
1.04
2.00
1.48
1.08
79.5
73.0
60.0
76.6
86,9
90.0
16.0
15.9
16.2
11.7
23.4
21.3
11.7
46.7
43.6
40.9
40.5
33.3
38.7
37.7
30.0
4.4
8.5
9.1
13.5
3.3
5.8
8.2
5.0
66.7
5. Percentage of affected firms mentioning decline in stock market
17.8
6. Percentage of affected firms mentioning difficulties in raising funds
from financial institutions
7. Percentage of affected firms mentioning difficulties in raising funds
from capital markets
1. Computed from the frequency distributions in lines 6a-6e of table 3 and lines 4a-4e of
table 5, using the midpoint of closed-end class intervals and a value of 75 percent for the openend interval. This procedure probably leads to some overstatement of the average.
2. Computed by multiplying line 2 by 1966 plant and equipment expenditures of firms
reporting reduction and dividing by expenditures of all firms. In the case of 1967 programs
75.5
there is an implicit assumption that, for firms reporting reduction, these programs on the
average were similar in magnitude to 1966 expenditures of the same firms (see text).
Sources: U.S. Department of Commerce, Office of Business Economics, and Securities and
Exchange Commission.
Table 7.—Reductions in 1966 Inventory Investment Resulting From 1966 Financial Market Developments: Number of Firms by Asset
Size
Nonfinancial firms, only
Under
$1,000,000
1. AH firms answering question
on 1966 impact of financial market developments on inventory expenditures (question 5b) 2 _.
2. Number indicating no reduction (question 5b) 2
$1,000,000 to
$9,999,999
819
1,500
$10,000,000 to
$49,999,999
803
All
$50,000,000
and over
All sizes
687
firms1
3,809
4,047
780
1,428
773
680
3,661
3,899
39
72
30
7
148
148
4. Number indicating significant reductions occurring in (question 6) 2 3:
a. First quarter
b . Second quarter _ _ .
c. Third quarter
- _d. Fourth quarter
3
5
25
23
6
21
51
59
2
5
19
28
0
1
3
6
11
32
98
116
11
32
98
116
5. Number indicating reduction amounting to (question 8) 2:
a. Less than 2 percent of actual 1966 year-end inventories
b. 2 percent to 4.9 percent
c. 5 percent to 9.9 percent
d. 10 percent or more
e. Amount not specified
4
8
8
13
6
4
18
21
28
1
0
9
10
10
1
0
4
2
1
0
8
39
41
52
8
8
39
41
52
8
6. Number mentioning as cause of reduction (question 9) 2;
a. Rise in interest rates, total *
Business outlook effect
Cost of financing effect
b. Decline in the stock market, total * _ - _
Business outlook effect
Cost of financing effect
c. Difficulties in raising funds from financial institutions, total 4
Unattractiveness of lending conditions (other than interest rates)
Unwillingness of institutions to supply desired funds
d. Difficulties in raising funds from capital markets, total*
Unattractiveness of terms (other than offering price or yield)
Unwillingness of underwriters to handle issues
e. Other financial market developments
29
23
19
11
11
4
20
5
15
2
1
1
4
63
33
53
15
12
3
32
15
21
4
3
1
15
23
12
17
5
4
1
14
6
11
2
1
1
5
7
3
6
1
1
0
0
0
0
0
0
0
0
122
71
95
32
28
8
66
26
47
8
5
3
24
122
71
95
32
28
8
66
26
47
8
5
3
24
3. Number indicating reduction (question 5b)2
___
1. Includes financial institutions as well as a small number of nonfinancial firms for which
asset-size information was not available.
2. Question numbers refer to questionnaire (see Technical Notes).
3. Some firms indicated more than one quarter.
4. Includes firms which indicated both, or which did not distinguish between, (a) business
outlook and cost of financing effects and/or (6) Unattractiveness of lending conditions and unwillingness of institutions to supply desired funds.
Sources: U.S. Department of Commerce, Office of Business Economics, and Securities and
Exchange Commission.
24
SUKVEY OF CUEKENT BUSINESS
classes. This procedure yields a value
in the neighborhood of $500 million,
which must, however, be considered
subject to an even larger margin of
error than are plant and equipment
outlays.18 In view of the greater number
18
The figure is relatively sensitive to the treatment of the
rather large open-end interval in the frequency distribution
of the percentage reduction for affected firms. It varies from
$440 million, if in computing the average percentage reduction we assign a value of 15 percent to all firms in the range
over 10 percent, to $530 million, if we assign a value of 20
percent.
of firms reporting reductions in 1967
inventory investment plans than in
1966 investment, the overall impact on
planned additions to inventory for the
current year may be expected to exceed
$500 million, but data for a more
precise estimate are not available.
Size
effects
Even more than in the case of fixed
investment outlays, there is evidence of
August 1967
relatively slow reaction by the larger
firms, with the number reporting reductions in inventory investment in
the fourth quarter of 1966 increasingvery substantially over the third quarter
for the two larger size groups but not
for the smaller firms (table 7). Furthermore, the largest size group experienced
by far the greatest increase in the
proportion indicating reductions in 1967
inventory investment plans as corn-
Table 8.—Impact of 1966 Financial Market Developments on 1966 Inventory Investment and 1967 Inventory Plans, Nonfmancial Firms by
Asset Size
[By percent]
1966 investment— Firms with assests of—
Under
$1,000,000
1 . Percentage of firms indicating reduction in investment
2. Average percentage reduction for affected firms 1
3. Agreggate reduction as3 a percentage of inventory holdings of
all firms in size class
$1,000, 000 to
$9,999,999
$10,000,000 to
$49,999,999
1967 investment plans— Firms with assets of—
$50,000,000
and over
4.8
4.8
3.7
1.0
10.7
11.0
10.6
7.0
.64
.50
.20
4. Percentage of affected firms mentioning rise in interest rates
as cause of reduced investment
74.4
87.5
76.7
5. Percentage of affected firms mentioning decline in stock
market _ _ _ ---- -
28.2
20.8
16.7
6. Percentage of affected firms mentioning difficulties in raising
funds from financial institutions
51.3
44.4
7. Percentage of affected firms mentioning difficulties in raising
funds from capital markets
5.1
5.6
.11
Under
$1,000,000
$1,000,000 to
$9,999,999
6.4
$10,000,000 to
$49,999,999
$50,000,000
and over
5.0
6.2
8.7
(2)
(2)
(2)
(2)
(2)
(2)
(2)
(2)
57.1
81.0
93.5
91.2
(4)
21.4
25.0
23.9
14.7
46.7
(4)
38.1
40.5
37.0
20.6
6.7
(4)
9.5
6.9
4.3
5.9
100.0
and dividing by end-of-year inventory of all responding firms.
4. Percentage not meaningful due to size of sample.
Sources: U.S. Department of Commerce, Office of Business Economics, and Securities
and Exchange Commission.
1. Computed from the frequency distribution in lines 5a-5d of table 7, using the midpoint
of closed-end class intervals and a value of 20 percent for the open-end interval. This procedure probably leads to some overstatement of the average.
2. Not available.
3. Computed by multiplying line 2 by end-of-year inventory of firms reporting reduction
Table 9.—Reductions in 1966 Inventory Investment Resulting From 1966 Financial Market Developments; Number of Firms by Major
Industry
All i other
Trade
Manufacturing
All industries
1. All firms answering question on 1966 impact of financial market developments on inventory expenditures (question 5b)2
2,013
883
1,151
4,047
2. Number indicating no reduction (question 5b)2
1,938
828
1,133
3,899
75
55
18
148
5
18
52
60
5
12
37
40
1
2
9
16
11
32
98
116
3
23
21
25
3
4
11
16
21
3
1
5
4
6
2
8
39
41
52
8
60
28
48
15
11
5
36
13
28
5
2
3
12
47
32
38
14
14
0
24
12
14
3
3
0
6
15
11
9
3
3
3
6
1
5
0
0
0
6
122
71
95
32
28
8
66
26
47
8
5
3
24
_
_
3. Number indicating reduction (question 5b)2
4. Number indicating significant reductions occurring in (question 6)2 3:
a First quarter
b . Second quarter .
_
. . _ _
_
c. Third quarter
d. Fourth quarter
_ __ _ _ ___
5. Number indicating reduction amounting to (question 8)2:
a. Less than 2 percent of actual 1966 year-end inventories
b . 2 percent t o 4 . 9 percent.
c. 5 percent to 9.9 percent
d. 10 percent or more
__
e. Amount not specified
_ _
_ _ _ _ _ _ _ _
_ _ _ _ _
_
_
___
_ _ _ _
_
_ __
_ _ _ _ _
6. Number mentioning as cause of reduction
(question 9)2:
a. Rise in interest rates, total 4_
_
Business outlook effect
Cost of financing effect _._ 4
b. Decline in the stock market, total .. _ _ _ _ _
Business outlook effect
Cost of financing effect
c. Difficulties in raising funds from financial institutions, total 4
Unattractiveness of lending conditions (other than interest rates)
Unwillingness of institutions to supply desired funds. _
d. Difficulties in raising funds from capital markets, total 4
Unattractiveness of terms (other than offering price or yield)
Unwillingness of underwriters to handle issues
e. Other financial market developments
1. Includes utilities, communications, finance, rail and other transportation, construction,
m ning, and services.
2. Question numbers refer to questionnaire (see Technical Notes).
3. Some firms indicated more than one quarter.
4. Includes firms which indicated both, or which did not distinguish between, (a) business
_ _
._
outlook and cost of financing effects and/or (b) Unattractiveness of lending conditions and
unwillingness of institutions to supply desired funds.
Sources: U.S. Department of Commerce, Office of Business Economics, and Securities
and Exchange Commission.
SURVEY OF CURRENT BUSINESS
August 1967
culties in raising funds from intermediaries were all mentioned a little
more frequently by the smaller firms
for inventories than for plant and equipment. This suggests that multiple
factors were more frequently at work.
With reference to 1967 inventory plans,
the larger firms mentioned the effects
of interest rates more frequently and
the smaller firms less frequently than
in the case of 1966 inventory investment, while difficulties in raising funds
from intermediaries were also mentioned
less frequently by the smaller firms.
In both years, the number of firms
mentioning the cost aspect of interest rate
developments somewhat exceeded the
number indicating the business outlook
aspect, while the effect on the cost of
funds of the stock market decline was
of negligible importance.
25
1967) to invest in plant and equipment
during 1967 were reduced by an amount
estimated at somewhat under $1 billion,
less than 1 % percent of anticipated fixed
investment. Although the available
data do not permit an estimate of the
corresponding impact on business inventory investment in 1967, this is
believed to be higher than the $500
million figure for 1966. The effects on
business investment for 1966—and
probably to a greater extent also for
1967—would be increased somewhat if
full allowance is made for the indirect
effects of the 1966 financial market
developments,
which would initially be
Financial factors and inventories
expected to increase as the period of
With respect to the specific factors
time is extended.
assigned responsibility for the 1966 reThese estimated effects of monetary
ductions, the rise in interest rates, the
policy in 1966 on business investment
decline in the stock market, and diffiin 1966 and 1967 seem quite small in
almost any perspective, particularly
when it is recalled that last year witnessed one of the periods of greatest
credit stringency in many decades.
There is interest not only in the small
While the major objective of our equipment and inventories consti- size of the "ultimate" impact but also
special survey is to provide as reliable tute a high proportion of the total in the significant lag between monetary
an estimate as possible of the quantita- investment that credit policy is de- action and any appreciable effect on
tive impact of last year's monetary signed to affect.
business investment; this reflects both
stringency on business investment, the
On the basis of data collected in the the time required to intensify monetary
survey also makes available a wealth survey, financial market developments restrictions and the relatively slow imof other data on factors affecting busi- in 1966 are estimated to have resulted pact on the large firms, which account
ness investment programs. It may be in a reduction of approximately $500 for a high proportion of total investnoted that the most interesting differ- million, or two-thirds of 1 percent of ment. Apparently, not until the third
ence between the 1966 results on the that year's $75 billion total of non- quarter of 1966—more than 6 months
relative importance of various factors residential, nonfarm fixed investment. after the decision to implement signifiaffecting business investment programs The aggregate effect on nonfarm inven- cant monetary restrictions—were even
and earlier results for 1949 and 1955 tory investment in 1966 was of the the small average 1966 effects on plant
(obtained from similar though con- same general order of magnitude, also and equipment and inventory investsiderably less comprehensive surveys) amounting to an estimated $500 million, ment achieved. The somewhat larger
was the increased influence of both as compared with actual investment of 1967 effects, which were indicated even
financial market developments and of $13.7 billion and a stock of nonfarm after the restrictive policy was reversed,
capital goods supply conditions in ef- business inventories of $151 billion at were of course associated with signififecting reductions in planned plant and the yearend. These estimates may cantly longer time lags. Lags tended to
equipment expenditures.
include some indirect effects, reflecting be shorter and the impact somewhat
Since monetary tools have been in- the failure of sales to grow as rapidly as severe for the smaller firms.
The relatively small and significantly
creasingly relied upon for economic in the absence of credit restraint.
stabilization purposes, it seems imThe restrictive impact of the 1966 delayed overall impact of monetary
perative that we gain more insight into credit squeeze on business investment policy on business investment is in
the effectiveness of these tools and their increased significantly from the first to interesting contrast to the shock effect
impacts on different sectors of the the fourth quarter of the year and was of such policy on investment in housing.
economy. Until this survey, no reason- considerably larger on the 1967 invest- Although we do not have a reliable
ably satisfactory estimates of the effect ment programs than on 1966 expendi- framework for estimating the effect of
of monetary policy on business invest- tures. As a result of developments the credit stringency on housing, the
ment have been available, even though associated with the monetary stringency rough magnitude of the effect seems
business expenditures on plant and in 1966, business plans (made early in reasonably clear. Housing investment
pared with those reducing 1966 investment, while the smallest size group
experienced the smallest increase (table
8). The slower reaction of large firms is
more difficult to rationalize for inventory than for fixed investment but may
perhaps reflect the greater internal
resources of the large firms to handle
temporary needs for funds. Also, as in
the case of plant and equipment expenditures, large firms tend to have
more formal and rigid capital budgets
than small firms and perhaps more
advanced arrangements for financing.
Summary and Conclusions
26
had been quite stable from 1964
through the first quarter of 1966. It
started to decline in the second quarter
of 1966, apparently largely in response
to developments in the financial markets,
and showed major weaknesses in the
third and fourth quarters, declining
$6.1 billion or 23 percent from a
seasonally adjusted annual rate of
$27.0 billion in the first quarter to
$20.9 billion in the fourth. There were
time lags here as well, but even by the
third quarter, housing investment had
declined $3.3 billion at an annual rate,
or 12 percent, from the first quarter.
As compared with either the 1965 or
first quarter 1966 rate, the reduction
in housing investment. for the entire
year 1966 amounted to $2.6 billion, or
close to 10 percent.
Thus, it appears that monetary
policy impinges to a much greater
extent on the housing market than on
business investment and that the former,
unlike the latter, bears much of the
brunt of economic stabilization through
monetary policy. It should be pointed
out, however, that as compared with
business investment, housing presumably is also more greatly (and favorably)
affected by monetary policy designed
to stimulate investment during recessionary periods. Therefore, it is not clear
whether over the entire business cycle
the net effect of monetary policy is
significantly greater for housing than
for business investment. Moreover,
even in 1966 nonmonetary policies may
have been somewhat more restrictive
on business investment than on housing.
Late in the year, the suspension of the
investment tax credit and of certain
accelerated amortization procedures imposed some fiscal restraint on investment in plant and equipment expendi-
SURVEY OF CURRENT BUSINESS
tures (though the suspension was of
relatively short duration).19 Earlier in
the year, the Administration had urged
voluntary restraint. A consideration of
the net affects of credit policy on housing
and business investment over the cycle
and a comparison with available alternatives from the viewpoint of economic
stabilization and development are beyond the scope of this article.
August 1967
could not be meaningfully tabulated
because of inadequate information. An
additional 218 questionnaires were received too late for tabulation. (Inclusion
of these returns would not have significantly affected the results presented
here.) The analysis in this article consequently utilizes returns from 4,418
companies.
The response rate by industry in
terms of numbers of firms surveyed was:
TECHNICAL NOTES
manufacturing, 55 percent; trade, 53
percent; finance, 69 percent; utilities
The questionnaire reproduced below
and communication, 52 percent; and
was mailed in late March 1967 to all
all other groups, 48 percent. Individual
firms that currently cooperate in the
company reports were examined and
OBE-SEC quarterly surveys of plant
tabulated only by employees of the U.S.
and equipment expenditures, except for
Department of Commerce, the Securicertain
transportation c companies
ties and Exchange Commission, and
(among these, only airlines and railInterstate Commerce Commission.
roads and trucking companies classified
Differences in scope between this
as Class I by the Interstate Commerce
survey and previous but more limited
Commission were surveyed). Questionones conducted in 1950 and 1956 may
naires were sent to 8,876 cooperating
be of interest. The 1950 and 1956 surcompanies; these companies account for
veys inquired into the reasons for deviaapproximately 70 percent of total nontions between actual and anticipated
agricultural assets of U.S. business
capital outlays in 1949 and 1955 reenterprises. As in the regular quarterly
spectively, essentially paralleling Secsurveys, the questionnaires were comtion I of the current survey, but not
pleted on a company basis, rather than
Sections II and III. The two earlier
on an individual establishment or plant
surveys were mailed only to certain
basis.
enterprises, chiefly manufacturing,
Replies were received in April and
whereas the present survey was mailed
May 1967 from 4,781 companies, 54
to all firms regularly cooperating in the
percent of the firms surveyed. Aggregate
OBE-SEC quarterly investment surexpenditures for plant and equipment
veys (with the exceptions noted earlier).
in 1966 by the reporting firms were more
Moreover, the two earlier surveys inthan 60 percent of the $60.6 billion of
cluded only those enterprises whose
such outlays made by all U.S. firms in
actual outlays in the year concerned
the scope of the OBE-SEC survey of
exceeded certain levels (generally $5,000
plant and equipment expenditures. Of
for 1949 and $10,000 for 1955) and difthe .4,781 returns, 145 questionnaires
fered by more than 25 percent from
19
their early anticipations (15 percent for
These measures, particularly the suspension of certain
accelerated amortization procedures, may also have had a
firms
with assets of $50 million and over
restrictive effect on apartment houses and consequently on
in the survey for 1955).
residential construction.
Section II - 1966 FINANCIAL MARKET FACTORS & 1966 EXPENDITURES FOR PLANT & EQUIPMENT & FOR INVENTORIES
IMPORTANT
> e n d i t u r e s in 1966 for plant and e q u i p m e n t ? .
3. What was the
' A R T M E N T OF COMMERCE
PLEASE RETURN THIS FORM BY APRIL 17, 1967
.
4. What was
$
5. Did you at any time during the year 1966 reduce your investment in plant and equipment, or in inventories, below what they
m i g h t otherwise have been because of developments in the 1966 money and capital markets' ( N O T E ! - Please answer with
respect only to the direct impact of f i n a n c i a l market developments on your f i r m ' s investments, rather than with respect to the
SURVEY OF FACTORS INFLUENCING
1966 AND 1967
BUSINESS INVESTMENT
[I] Yes
a. Plant and equipment exper
No
b. Inventory expenditures . .
Refer to: Form BE-460
inquire into developments in 1966 which may have resulted in changes
iticipated investment in 1967. The survey consists of three sections,
The purpose of this supplemental surve
o. Plant and equipment
~\ 1
b. Inventories
[ZM
[U »
IV
~H '»
HI
d »'
LH IV
as follows:
SECTION I
seeks to determine which factors, if any, exercised an appreciable influence on your actual
1966 expenditures for new plant and equipment relative to your anticipated expenditures early
that year.
SECTION II
covers the extent, if any, to which f i n a n c i a l market developments in 1966 affected your actual
1966 expenditures for new plant and equipment, and for inventories.
SECTION III
[~] From 10 to 24.9 percent
Less than 5 perct
covers the extent, if any, to which your presently anticipated 1967 expenditures for new plant
and equipment, and for inventories, would have been different if f i n a n c i a l market developments
in 1966 had been more favorable.
From 25 to 49.9 p
8. If your answer to question 5b was "Yes", how much greater would your inventory book values have been on December 31, 1966,
^] Less than 2 percent
[H From 2 to 4.9 percent
[^H From 5 to 9.9 percent
INSTRUCTIONS AND DEFINITION OF TERMS
1. Expenditures for plant and equipment cover only outlays for construction, equipment, and machinery within the
United States, including items purchased abroad for installation or use within the U.S.
in 1966 investment, and the reasons why these developments
2. Expenditures for plant and equipment refer to all costs - both replacement and expansion - whether on contract
or by your own company, chargeable to fixed asset accounts and for which depreciation or depletion accounts
are ordinarily maintained.
These 1966 developments
Were important because
a Ris
3. Expenditures for plant and equipment refer only to new construction, machinery, and equipment.
^H it a f f e c t e d the general business outlook
7H " a f f e c t e d your cost of borrowing
4. Report on a consolidated basis for the company and its subsidiaries wherever possible.
;
| Decline i n t h e stock market
;quity f i n a n c i n g
ield) offered by underwriters/brokers
lerwriter/brokers to handle
] Other f i n a n c i a l market developments
(Specify)
Section 1
—1
y
tual
1
N
e x p e n d i t u r e s for new p l a n t
F^SSZ?^- - — <- ™ " *"~ *"<"- by *""" "
.voneboxunde e.therorboth
[U No
^ Yes, some
3 Yes, most
"~\ Yes, all
tende i to Increase
expenditures
Decrease
' pranVLTrqufpment'or'in^nvenTones 0 w'm Kw?in\%67 th
From early a n t i c i p a t i o n s
o. Sales outlook
a
a
i —i
•
b. Current expenses
•
\^\ Yes
n
rj
12
' llnr/iaTm^ke'crdHirns'^dTen l^re •f.^.b^n"!0^
1
Plant and equipment costs (viz - prices paid)
LD
"«
a
r^]
e
g
r^j
P
Lj Less than 5 percent
[^ From 5 to 9.9 percent
!~] 50 percent or
Are important because:
i—1
Q Decline in the stock market
i —i
ct
y
g
.—
—j~-'
j
d i, .Hec««d you, cos, of ,,ui,» fin.ncin.
| D i f f i c u l t i e s in raising funds from banks or other
P^=======^^==^^
y
ich of the following developments d u r i n g 1966 are responsible
—1 '
"^
-,
^ From 10 to 24.9 percent
These 1966 developments:
of the i n v e s t m e n t tax credit and other Governmental actions to temporarily re-
"""^
| No
0 Rise in interest rates
. . .
<£™Z™
'
~] No
>uld you expect to spend for new p l a n t and eqmpment in 1967 if
C] From 25 to 49.9 percent
'" !:;Eli:^°'"::;::: '"1;°°"1'1'6":;:ri':'";r:':
•~\
—]
i— i
n
(1) A v a i l a b i l i t y and costs of debt f i n a n c i n g
| Yes
a. Plant and e q u i p m e n t
b. Inventories
!Z1
9
^
y 1966
a ir::;,;:;:« o, , „«,, «,;,„, „„, ,o,UPP,y,^,
or "yield^olfere^by
j~~| Difficulties in raising funds from the stock or bond
\
underwrit "rs/broke'rs0
eri
" 8 P"CS
| of u n w i l l i n g n e s s of underwriters/brokers to handle
rj below ear y 1966
expectations?
[Z] Other financial market developments
OR
j
(Spectly)
| below
.
—
__
^/
By ROBERT B. BRETZFELDER
Personal Income Advance Slows in Nearly All Regions in Early 1967
JL ERSONAL INCOME continued to
advance in every region and in nearly
every State in the opening quarter of
1967. However, the slowing down in
the overall pace of the economic
expansion was also reflected in most
areas. The first quarter gain in personal
income in the 50 States came to 1%
percent, as compared with 2 percent
in the closing quarter of 1966. The
largest relative increases last winter
I CHART 12
First Quarter Rise in Personal Income
Fell Short of Fourth Quarter Increase
in Every Region Except Southeast
0
Percent Change From Previous Quarter
1
2
3
UNITED STATES
IE 1966 -N1966
ET1966-I1967 1
Rocky Mountain
Mideast
Far West
Southeast
4
occurred in the Rocky Mountain and
Mideast regions where income rose 2
percent (seasonally adjusted). The next
largest was the rise of 1% percent in the
Far West. The advances in the Southeast and Great Lakes regions matched
that of the Nation, while the increases
in the Southwest (1%), New England,
and the Plains (both 1 percent) fell
short. Except for the Southeast, the
most recent regional income gains were
smaller than those in the previous
quarter (chart 12).
The national advance in personal
income last winter approached the
strong average quarterly gains scored
during the 1965-66 period. Typically,
a short-term slowdown or an actual
decline in economic activity centers in
a decline in corporate profits, particularly retained earnings and taxes, so
that personal income is affected relatively less than national income or
GNP. Moreover, in the past, countercyclical increases in transfer payments
during economic slowdowns have bolstered personal income. Developments
in the first quarter of 1967 followed
such a pattern: The large first quarter
decline in profits was concentrated in
retained earnings and taxes, while
dividends, which are included in personal income, rose. An increase of
$3}£ billion in transfers accounted for
more than a third of the total gain in
personal income.
Durable payrolls level
On an industry basis, the first quarter
slowdown centered in manufacturing.
Total factory payrolls were up only
$0.5 billion, or less than one-half of
1 percent, as compared with quarterly
gains averaging about $3 billion, or
Great Lakes
Southwest
Plains
New England
U.S. Department of Commerce, Office of Business Economics
28
NOTE.—The estimates of State personal income were
prepared in the Regional Economics Division under the
supervision of Edwin J. Coleman and Q. Francis Dallavalle.
The quarterly estimates were constructed by Marian Sacks;
the annual estimates were prepared by Sandra Bodine,
Margaret Cannon, Vivian Conklin, Linnea Hazen, Jerry
Lounsbury, Elizabeth H. Queen, Roselee Roberts, and
George Smith.
Annual Estimates of Personal Income by States
TABLES 1-70 update OBE's annual series on State
personal income. The figures for 1966 replace the
preliminary and summary estimates contained in
the April 1967 SURVEY while those for 1964-65
are revisions of the figures published in the
August 1966 issue.
2% percent, during the period of rapid
economic expansion that accompanied
most of the U.S. military buildup in
Vietnam (first quarter 1965 to fourth
quarter 1966). Within manufacturing,
the slowdown was concentrated in the
durable goods sector. Payrolls in the
durable goods industries were little
changed from the fourth quarter of
1966, as the rate of hard goods inventory accumulation dropped from a
$12% billion annual rate in the fourth
quarter to $3% billion in the first, and
final sales of durable goods expanded
only moderately. Consumer demand
for autos declined markedly, but this
was offset by a continued increase in
final demand for durables, mainly by
the Federal Government.
Among the regions, there were sharply divergent movements in durable
goods payrolls. They fell in the heavily
industrialized Great Lakes and the more
diversified Mideast. These drops were
offset by increases in the other six
regions, ranging from y% percent in the
Southwest to highs of 3 percent in the
Far West and 6 percent in the Kocky
Mountain States.
Farm income lower
A first quarter decline of 2% percent,
or $0.5 billion, in farm income was
spread unevenly among the regions;
farm income increased in two areas and
declined at varying rates in the remaining six. In the Plains, a sharp decline in
farm income (5% percent) in the first
quarter explains the sluggish rise of
total income (1 percent); nonfarm income in the region rose as much as the
U.S. average of 1% percent. Similarly,
the relatively small increase in total income in the Southwest (1J£ percent) is
August 1967
traceable mainly to a drop of nearly
6 percent in farm income; nonfarm income in the Southwest rose by a little
more than 1% percent. On the other
hand, a spurt of nearly one-tenth in
farm income in the Rocky Mountain
region, where the rise of nonfarm income
no more than matched the national rate
of gain, was mainly responsible for that
region's top ranking gain in total income. In the other areas of the country,
farm income is a smaller proportion of
total income, and even though there
were some large declines in this income
component, they had little effect on
changes in total income.
Trade, construction, nondurables up
in most regions
In contrast to developments in farming and in durable goods manufacturing, wage and salary payments in
trade, construction, and nondurable
goods manufacturing rose in the first
quarter, with increases characterizing
most regions. Trade payrolls in the
first quarter were up by $1% billion,
or 2% percent. Payrolls in the construction industry were up 4 percent, or
nearly $1 billion, as total outlays on
structures increased for the first time
in a year. The production of soft goods
continued to increase in the opening
quarter of 1967, as the reduction in the
rate of inventory accumulation of nondurable goods was moderate, and final
demand continued to advance. As a
result, the payrolls of firms producing
nondurable goods rose $0.5 billion, or
more than 1 percent.
The payroll gains in each of these
three industries were widespread geographically. Wages and salaries in soft
goods manufacturing were higher in all
regions except the Southwest. Trade
payrolls expanded in all regions except
New England, where they leveled off;
the gains in the other regions were
quite uniform, ranging from a low of
2% percent in the Mideast to a high of
3% percent in the Great Lakes. Construction payrolls were up \% percent
or more in all regions, with especially
large advances in New England (4%
percent) and the Great Lakes (nearly
10 percent).
SUKVEY OF CURKENT BUSINESS
29
Table A.—Quarterly Total Personal Income, by States and Regions
[Millions of dollars]
Seasonally adjusted at annual rates
State and region
19 66
19661
I
United States
New England
-
Maine _
New Hampshire
Vermont
M assachusetts. _
Rhode Island...
Connecticut
__ _
Mideast
III
II
Percent
change
IV-1966
to 1-1967
1967
IV
I
580, 483
564 525
573 gog
585 691
597 808
607 247
36, 415
35, 330
35, 959
36, 640
37 732
38 110
2,422
1,901
1 066
2 365
1,838
1 032
2 390
1 876
1 044
2 436
1,912
1 077
2 499
1 978
1 110
2 529
2 016
1 138
17, 675
2,730
10 621
17 254
2,665
10 176
17 477
2,706
10 466
17 776
2,753
10 686
18 192
2 796
11 157
18 516
2 869
11 042
138, 436
135 018
137 103
139 108
142 512
145 383
New York
New Jersey
Pennsylvania
63, 669
23 767
34 434
62 183
23 209
33 558
63 153
23 578
34 019
63,963
23 816
34 643
65 377
24 464
35' 515
66 919
24 966
35 961
Delaware
Maryland.- _
District of Columbia
1 811
11, 573
3,182
1 776
11 204
3 088
1 795
11 427
3 131
1 818
11 686
3,182
1 853
11 975
3 328
1 893
12 316
3 328
Great Lakes-
125, 063
121 561
123 288
126 704
128 699
130 568
Michigan
Ohio
Indiana
27 685
31, 670
15 230
26 992
30 817
14 795
27 436
31 223
14 980
28 500
31, 844
15 398
27 812
32, 794
15 746
28 222
33 123
15 994
Illinois
Wisconsin
38 089
12 390
36 973
11* 984
37 513
12 136
38 402
12 560
39 466
12 881
40 204
13 025
Plains
45 355
44 197
44 700
45 718
46 805
47 254
Minnesota . _ _
Iowa
10, 373
8 258
10, 052
7 996
10 181
8 128
10, 521
8 298
10, 739
8 610
10 897
8 595
Missouri
North Dakota
12, 856
1 533
12, 596
1 555
12, 678
1 516
12, 942
1 508
13, 208
1 552
13, 562
1 620
South DakotaNebraska
1,643
4,181
1,642
4 046
1,644
4 098
1,638
4 251
1,649
4 328
1,664
4 292
Kansas
6 511
6 310
6 455
6 560
6 719
6 624
97, 524
94, 639
96, 577
98,763
100, 121
101,727
Virginia.
West Virginia.
Kentucky
11,641
3,937
7,143
11, 320
3,868
6 928
11, 476
3,856
7 038
11, 666
3,955
7 295
12,104
4,068
7 313
12, 340
4,119
7 490
Tennessee.
_
North Carolina
South Carolina
8,611
11,321
5,310
8,328
10, 972
5,146
8,550
11 254
5,266
8,712
11, 518
5,406
8,856
11, 538
5,422
9,132
11 579
5,492
Georgia
Florida
Alabama
10, 579
15, 410
7,254
10, 256
14, 848
7,138
10, 542
15, 195
7 227
10, 731
15, 697
7,291
10, 786
15, 902
7,358
10, 899
16,061
7 565
4,153
8,235
3,931
4,035
7,945
3,855
4 178
8,100
3,895
4 144
8,389
3,959
4 252
8,508
4,014
4 244
8 713
4,093
39, 886
38, 829
39, 482
40, 272
40, 964
41, 500
6,099
27, 319
5,986
26, 557
6,004
27 072
6,117
27, 662
6,290
27 987
6,384
28 434
New Mexico
Arizona
2,390
4,078
2,330
3,956
2,367
4,039
2,359
4,134
2,503
4 184
2,460
4 222
Rocky Mountain
12, 622
12, 336
12, 512
12, 608
13,029
13,297
Montana
Idaho
Wyoming
1,842
1,704
1,789
1,712
1, 823
1,700
1,860
1,669
1,894
1 734
1,882
1 802
Colorado
Utah
5,700
2,502
5 554
2,427
5 653
2,464
5,707
2,497
5,886
2,619
6 036
2,673
82, 045
79, 515
81, 193
82,736
84,736
86, 142
9,797
5,738
9,345
5,608
9,580
5,739
10,034
5,732
10, 231
5,874
10, 398
5,928
1,507
65,002
1,501
63,061
1,506
64,368
1,497
65, 473
1,525
67,106
1,592
68,224
907
2.230
880
2.220
898
911
2.196
2.231
937
2.273
940
2.326
Southeast
Mississippi
Louisiana
Arkansas
_
_
SouthwestOklahoma
Texas
Far West
Washington
Oregon .
Nevada
California
Alaska
Hawaii
_
874
__
854
872
875
896
(2)
(2)
(2)
(2)
904
i
(2)
v
'
<
1. Detail will not add because of rounding.
2. Less than one half of 1 percent.
NOTE. Quarterly totals for the State personal income series will not agree with the personal income measure carried in
the national income and product accounts since the latter includes income disbursed to Government personnel stationed
abroad.
Source: U.S. Department of Commerce, Office of Business Economics.
SUEVEY OF CUREENT BUSINESS
30
The widespread gains in construction payrolls are particularly noteworthy because this industry rose so
little in 1966. Reflecting developments
mainly in the residential market, total
construction outlays fell somewhat less
than one-tenth from their peak in the
opening quarter of 1966 to their trough
in the closing quarter. Over this period,
construction payrolls rose only IK per-
August 1967
cent, as compared with a rise of 6
percent in total personal income. During
1966 (first to fourth quarter), construction payrolls were particularly weak in
the Great Lakes (off 2% percent), the
Table 1.—Total Personal Income, by States and Regions, 1948-66
[Millions of dollars]
1948
State and region
United States ]
1949
1950
1951
1952
1953
1954
1955
1956
1957
1958
1959
1960
1961
1962
1963
1964
1965
208, 878 205, 791 226, 214 253,233 269, 767 285, 458 287, 613 308,265 330,481 348,462 358, 474 380, 963 398, 725 414,411 440, 192 463, 053 494, 913 534,816
1966
580, 48
13, 796
13,623
14,911
16,525
17,451
18, 500
18,731
20, 038
21,367
22, 477
23,078
24, 405
25,532
26,579
28,165
29,461
31,378
33,608
36,41
Maine _
New Hampshire
Vermont
1,084
668
407
1,060
671
396
1,087
704
425
1,188
792
482
1,291
833
496
1,298
884
521
1,314
915
526
1,449
983
549
1,534
1,035
598
1,583
1,102
619
1,644
1,137
627
1,703
1,242
673
1,796
1,305
716
1,815
1,360
732
1,885
1,449
778
1,932
1,516
799
2,100
1,608
858
2,273
1,733
946
2,42
1,90
1,06
Massachusetts
Rhode Island. _.
Connecticut^
7,012
1,175
3,450
6,971
1,151
3,374
7,654
1,262
3,779
8,344
1,384
4,335
8,675
1,446
4,710
9,179
1,531
5,087
9,293
1,523
5,160
9,891
1,614
5,552
10, 497
1,674
6,029
11,074
1,701
6,398
11, 456
1,752
6,462
12, 141
1,846
6,800
12,680
1,897
7,138
13, 242
1,966
7,464
13, 912
2,115
8,026
14, 547
2,199
8,468
15, 431
2,352
9,030
16, 440
2,509
9,708
17,67
2,73
10,62
138,43
New England
_
54, 342
54, 408
59,210
64,882
68,428
72,684
73, 590
78, 206
83,741
88,282
90,022
95, 290
99,042 102, 420 108,230 113, 023 120,729 128, 774
New York
New Jersey .
Pennsylvania
26, 051
8,063
14, 716
26, 046
8,131
14, 553
27, 841
8,934
16, 189
30, 009
10, 151
17, 752
31, 396
10, 934
18, 617
33,206
11, 750
19, 938
34, 275
11,957
19, 515
36, 453
12,688
20,669
38,608
13, 719
22,295
40, 818
14, 550
23, 414
41, 808
14, 822
23,555
44, 392
15, 845
24, 672
46, 281
16,528
25, 395
47, 939
17, 336
25, 696
50, 676
18, 449
26, 879
52, 697
19, 400
27, 847
56, 156
20, 550
29, 896
59, 499
22, 095
31, 855
63,66
23,76
34,43
Delaware. _
Maryland
District of
Columbia
537
3,331
586
3,392
684
3,772
731
4,318
782
4,721
835
5,041
857
5,069
980
5,467
1,124
5,976
1,125
6,314
1,130
6,574
1,196
6,957
1,238
7,289
1,269
7,805
1,343
8,349
1,446
8,964
1,550
9,755
1,688
10, 681
1,81
11,57
1 644
1,700
1,790
1,921
1,978
1,914
1,917
1,949
2,019
2,061
2,133
2,228
2,311
2,375
2,534
2,669
2,822
2,957
3,18
65,549
70,776
75,631
78,619
78,383
83,418
86,490
88,002
92,992
97,626 104, 786 115,094
125,06
Mideast
47, 806
46, 004
50,849
57, 556
61,019
66,314
Michigan
Ohio
_ - __ ._
Indiana
9,691
12, 269
5 624
9,627
11, 749
5,388
10, 895
12, 930
5,998
12, 176
14, 894
6,938
13, 050
15, 942
7,326
14, 741
17,423
8,073
14, 354
17, 397
7,653
15, 900
18, 762
8,265
16,529
19, 992
8,875
16, 870
20,959
9,187
16, 478
20,615
9,157
17, 482
22, Oil
9,776
18, 203
22, 729
10, 225
18, 131
22, 976
10, 496
19,320
24, 154
11, 148
20,787
25, 144
11,813
22, 701
26, 821
12, 577
25, 447
29,139
14, 030
27,68
31,67
15,23
Illinois
Wisconsin
15 521
4,701
14,607
4,633
15, 948
5,078
17, 711
5,837
18,608
6,093
19, 812
6,265
19, 933
6,212
21, 167
6,682
23, 024
7,211
24, 056
7,547
24, 378
7,755
25, 776
8,373
26, 718
8,615
27, 517
8,882
28, 992
9,378
30, 228
9,654
32, 247
10, 439
35, 133
11,345
38,08
12,39
19, 647
17, 971
20, 135
21,912
23,016
23,435
24,233
24, 763
26, 075
27,859
29,543
30,235
31,871
32, 924
35, 002
36,374
37, 958
41,844
45,35
4,106
4 042
5,338
3,846
3,392
5,196
4,227
3,897
5,672
4,660
4,127
6,245
4,823
4,338
6,576
5,079
4,200
6,948
5,202
4,525
6,974
5,483
4,307
7,451
5,778
4,580
7,844
6,135
5,077
8,053
6,594
5,202
8,467
6,798
5,319
8,945
7,241
5,475
9,149
7,584
5,743
9,418
7,874
6,005
9,892
8,318
6,352
10, 402
8,622
6,649
11,023
9,498
7,522
11, 980
10,37
8,25
12,85
813
916
1,909
674
689
1,697
782
814
1,978
794
942
2,067
740
828
2,187
757
892
2,125
766
916
2,253
848
857
2,191
881
914
2,274
905
1,068
2,615
1,030
1,094
2,715
950
980
2,760
1,087
1,217
2,990
964
1,226
3,048
1,371
1,407
3,276
1,292
1,349
3,342
1,288
1,319
3,484
1,500
1,512
3,832
1,53
1,64
4,18
Great Lakes
-
Plains
Minnesota
Iowa
Missouri
- -
North Dakota
South Dakota
Nebraska. _.
2,523
2,477
2,765
3,077
3,524
3,434
3,597
3,626
3,804
4,006
4,441
4,483
4,712
4,941
5,177
5,319
5,572
6,001
6,51
31 769
31, 246
34, 590
39,288
42, 041
43, 958
43, 780
47, 557
51,312
54, 082
56, 417
60, 401
62,650
65, 966
70, 551
75,282
81,417
88, 811
97,52
Virginia
West Virginia
Kentucky
3 624
2 126
2 788
3 648
1,994
2,659
4 070
2,136
2,881
4 763
2,365
3,361
5,150
2,462
3,587
5,292
2,473
3,752
5,338
2,347
3,692
5 638
2,492
3,866
6,084
2,768
4,107
6,349
2,967
4,291
6,593
2,858
4,430
6,994
2,938
4,655
7,339
2,957
4,792
7,776
3,002
5,123
8,448
3,095
5,427
8,984
3,233
5,733
9,909
3,454
5,980
10, 736
3,691
6,513
11,64
3,93
7,14
Tennessee
North Carolina
South Carolina
3 037
3,732
1,779
3,001
3,675
1,724
3,295
4,219
1,886
3,645
4,691
2,321
3,810
4,851
2,527
4,080
5,040
2,615
4,105
5,120
2,434
4,374
5,571
2,599
4,671
5,935
2,697
4,872
5,980
2,810
5,026
6,286
2,900
5,394
6,731
3,132
5,521
7,142
3,298
5,879
7,609
3,464
6,258
8,178
3,752
6,644
8,632
3,948
7,143
9,328
4,278
7,847
10, 165
4,731
8,61
11,32
5,31
Georgia
Florida
Alabama
3 154
3,043
2 571
3 150
3,177
2,446
3 574
3,599
2 691
4 122
4,048
3 077
4,447
4,554
3 287
4 581
5,050
3,432
4,536
5,328
3,314
5 000
6,070
3 761
5 350
6,972
4,005
5,531
7,730
4,261
5,778
8,457
4,440
6,222
9,308
4,693
6,489
9,746
4,876
6,757
10, 253
5,014
7,293
11, 060
5,270
7,905
11,865
5,660
8,647
12, 982
6,099
9,544
14, 132
6,700
10,57
15,41
7,25
Mississippi
Louisiana
Arkansas.
1 639
2,679
1 597
1,441
2,857
1,474
1 643
3,021
1,575
1 796
3,336
1,763
1,907
3,636
1,823
1,943
3,858
1,842
1,875
3,881
1,810
2,102
4,114
1,970
2,141
4,547
2,035
2,172
5,028
2,091
2,352
5,089
2,208
2,572
5,344
2,418
2,632
5,399
2,459
2,820
5,568
2,701
2,979
5,893
2,898
3,291
6,284
3,103
3,423
6,788
3,386
3,751
7,423
3,578
4,15
8,23
3,93
13 066
13 924
14 850
16 917
18 327
18 923
19 288
20 664
22 208
23 752
24 961
26 345
27,370
28,883
30, 358
31, 867
33, 923
36 543
39,88
2 390
9 142
2 460
9 839
2 547
10 486
2 837
11 914
3 087
12 837
3 201
13 196
3 193
13 504
3 390
14 438
3 591
15 472
3 744
16 538
3 994
17 126
4 131
17 995
4 350
18, 535
4 551
19 551
4 688
20, 518
4 880
21, 589
5 220
23, 053
5 655
24 889
6,09
27,31
655
879
719
906
811
1 006
936
1 230
1,004
1 399
1,048
1 478
1,077
1 514
1,181
1 655
1,284
1 861
1,442
2 028
1,619
2 222
1,762
2 457
1,801
2 684
1,873
2 908
1,970
3 182
2,032
3 366
2,117
3 533
2,266
3,734
2,39
4,07
4 650
5 821
6 168
6 238
6 245
6 775
7 340
7 893
8 281
8 721
9 166
9 666
10 424
10, 715
11,084
11,843
12,62
1 581
1 413
792
1 588
1 411
811
1 593
1 462
823
1 712
1 662
845
1 84
1,70
87
Kansas
__.
Southeast
Southwest
Oklahoma
Texas
New Mexico... ._ Arizona .
Rocky Mountain
4 600
5 091
876
725
429
788
712
445
962
764
484
1 049
850
556
1 075
932
547
1 096
899
549
1 079
902
533
1 178
951
570
1 241
1 047
605
1 297
1 104
645
1 371
1 163
675
1 345
1 230
715
1 383
1 241
749
1 371
1 313
774
1 810
810
1 820
835
1 970
911
2 313
1 053
2 498
1 116
2 528
1 166
2 566
1 165
2 804
1 272
3 066
1 381
3 365
1 482
3 525
1 547
3 755
1 676
4 022
1 771
4 299
1 909
4 566
2 072
4 750
2 155
4 989
2,218
5 275
2 348
5,70
2,50
23 802
24 015
26 578
30 332
33 317
35 406
36 197
39 486
42 807
45 498
47 789
52 148
54 477
57 738
62 124
66 225
70, 934
75 415
82,04
3 608
2 278
3,600
2 251
3 995
2 482
4 414
2 784
4 697
2 966
4 934
2 990
5 035
2 961
5 306
3 198
5 583
3 422
5 912
3 416
6 138
3 577
6 540
3 826
6 706
3 960
7,079
4 067
7,635
4 313
7,764
4 578
8,087
4 921
8,626
5 350
9,79
5,73
283
17 633
286
17 878
327
19 774
378
22 756
440
25 214
480
27 002
519
27 682
604
30 378
625
33 177
673
35 497
713
37 361
772
41 010
831
42 980
914
45 678
1,125
49 051
1 268
52 615
1,357
56 570
1,433
60 006
1,50
65,00
723
685
322
692
448
793
494
865
511
896
495
908
505
972
548
537
1 114
528
562
1 041
1 178
1 315
649
1 478
635
1 598
666
1 680
704
1 776
791
1 912
853
2 032
90
2,23
Montana
Idaho
Wyoming
Colorado
Utah
Far West
Washington. .
Oregon
Nevada
California
Alaska
Hawaii
NOTE.—Detail may not add because of rounding.
1. Total includes Alaska and Hawaii 1960-66 but not in earlier years.
Source: U.S. Department of Commerce, Office of Business Economics.
SURVEY OF CURRENT BUSINESS
August 1967
Far West (off 2% percent), and New
England (up only % percent). In contrast, the Mideast and the Southeast
witnessed gains of about 4 percent and
the Southwest a rise of 7 percent. Re-
versing this pattern, construction payrolls in the first quarter of 1967 were
up more than most other major income
components in all regions except the
Far West.
31
Transfers up sharply in all regions
In percentage terms, transfers rose
more than any other major income
(Continued on page 40)
Table 2.—Per Capita Personal Income, by States and Regions, 1948-66
[Dollars]
1956
1948
1949
1950
1951
1952
1953
United States J
1,430
1,384
1,496
1,652
1,733
1,804
1,785
1,876
1,975
2,045
2,068
New England
1,494
1,452
1,601
1,779
1,865
1,921
1,905
2,030
2,152
2,241
2,258
Maine
- - New Hampshire
Vermont.. - ..
1,235
1,285
1,134
1,174
1,259
1,073
1,185
1,323
1,121
1,297
1,497
1,275
1,411
1,557
1,323
,422
,616
,375
,417
,652
,395
1,551
1,765
1,464
1,635
1,829
1,586
1,679
1,927
1,646
1,742
1,957
1,650
Massachusetts
Rhode Island
Connecticut
1,500
1,493
1,713
1,470
1,437
1,660
1,633
1,606
1,875
1,793
1,765
2,138
1,866
1,803
2,263
,910
,879
2,346
,893
,866
2,294
2,026
1,961
2,414
2,146
1,993
2,603
2,247
1,999
2,712
2,287
2,042
2,642
State and region
Mideast
1954
1955
1957
1958
1959
1960
1961
1962
1963
2,161
2,215
2,264
2,368
2,338
2,425
2,501
2,626
1,780
2,084
1,739
1,844
2,143
1,841
1,829
2,205
1,877
2,373
2,154
2,695
2,459
2,211
2,807
2,553
2 280
2,892
1964
1965
2,455
2,586
2,760
2,963
2,710
2,853
3,015
3,23S
1,904
2,300
1,980
1,961
2,347
2,013
2,134
2,440
2,150
2,305
2,575
2,340
2,477
2,808
2 595
2,675
2 425
3 040
2,770
2 507
3 118
2,919
2 660
3 244
3 067
2 816
3 430
3 271
3 047
3 69C
1966
1,648
1,618
1,756
1,912
1,985
2,068
2,054
2,153
2,283
2,378
2,387
2,494
2,565
2,612
2 728
2 807
2 958
3 117
3 325
New York
New Jersey
Pennsylvania ... ..
1,797
1,689
1,431
1,749
1,663
1,401
1,873
1,834
1,541
2,015
2,028
1,697
2,067
2,133
1,773
2,139
2,247
1,870
2,167
2,231
1,804
2,283
2,306
1,889
2,396
2,443
2,032
2,493
2,536
2,137
2 518
2,516
2,130
2,661
2,634
2,196
2,746
2,708
2,242
2 796
2,765
2,257
2 902
2 889
2,371
2 979
2,965
2,441
3 138
3 076
2,599
3 286
3 258
2 750
3 49'
3 44'
2 96£
Delaware ..
Maryland
District of Colum-
1,721
1,467
1,854
1,456
2,131
1,602
2,208
1,769
2,293
1,888
2,379
1,964
2,329
1 888
2,519
1,994
2,755
2,126
2,641
2,198
2,610
2 205
2,712
2 269
2,757
2 343
2,759
2 464
2 883
2 573
3,013
2 675
3 139
2 834
3 356
3 022
3 521
3 204
1,957
2, 107
2,221
2,377
2,457
2,363
2,424
2,483
2,660
2,701
2,818
2,928
3,017
3,065
3,249
3,370
3,549
3 687
3 94£
1,603
1,517
1,666
1,864
1,937
2,062
1,983
2,095
2,198
2,248
2,203
2,322
2,383
2,405
2,522
2,620
2 775
3 010
3 22*
Michigan
Ohio
Indiana
1,560
1,558
1,451
1,520
1,474
1,361
1,700
1,620
1,512
1,874
1,848
1,694
1,962
1,927
1,766
2,161
2,028
1,930
2,031
1,961
1,795
2,183
2,081
1,894
2,214
2,171
1,991
2,229
2,227
2 028
2,149
2,148
1 998
2,251
2,276
2,119
2,324
2,334
2 188
2,299
2,328
2 222
2 438
2,427
2 359
2 587
2,509
2 472
2 782
2 649
2 603
3 060
2 845
2 867
3 261
3 05(
3 07(
Illinois -.
Wisconsin
1,815
1,419
1,685
1,366
1,825
1,477
2,015
1,697
2,078
1,756
2,186
1,787
2,154
1,722
2,243
1,816
2,416
1,927
2,488
1,991
2,466
2 018
2,581
2,152
2,650
2 175
2,720
2 227
2 826
2 336
2,915
2 378
3,060
2 546
3 302
2 740
3 532
2 97C
bia
. .. . .. .
Great Lakes
Plains
1,444
1,298
1,428
1,547
1,624
1,642
1,677
1,681
1,749
1,860
1,970
1,990
2,067
2,114
2,235
2,308
2,399
2 639
2,84'
Minnesota . .. .
Iowa
Missouri .
1,432
1,589
1,389
,310
,316
,338
1,410
1,485
1,431
1,548
1,577
1,555
1,592
1,652
1,656
1,665
1,598
1,728
1,671
1,723
1,715
,729
,608
,802
1,783
1,694
1,884
1,874
1,869
1,922
1,990
1,921
2,023
2,020
1,949
2,101
2,116
1,986
2,115
2,193
2,081
2,166
2,254
2,176
2 270
2,372
2,303
2 358
2,443
2,406
2 466
2 666
2,727
2 667
2 904
2,99;
2 81'
North Dakota
South Dakota .
Nebraska
1,402
1,497
1,509
,129
,092
,303
1,263
1,243
1,491
1,315
1,438
1,571
1,217
1,272
1,668
1,243
1,377
1,612
1 254
1,398
1,681
,379
,293
,595
1,437
1,364
1,628
1 479
1,604
1,876
1,700
1,668
1,963
1,537
1,469
1,976
1,715
1,782
2,110
1 504
1,771
2,114
2 155
2,001
2,247
2 002
1,908
2,276
1 981
1 885
2,369
2 300
2 204
2,626
2 384
2,42(
2,90^
Kansas. ..
1,334
1,287
1,443
1,578
1,782
1,722
1,762
1,732
1,795
1,883
2,073
2,075
2,161
2,210
2,295
2,352
2,491
2 669
2,86;
984
953
1,022
1,141
1,213
1,267
1,256
1,343
1,423
1 467
1 507
1,585
1,610
1 664
1 748
1 837
1 954
2 103
2,28'
1,130
1,120
1,108
1,033
1,228
1,065
1,387
1,192
1,143
1,470
1,258
1,228
1,488
1,282
1 292
1,502
1,232
1 272
1,571
1,326
1,329
1,635
1,491
1,417
1 652
1,610
1 466
1 684
1,549
1 496
1,770
1,584
1 552
1 841
1,594
1 574
1 898
1,634
1 668
2 018
,698
2 095
1,781
1 837
2 267
1,895
1 891
2 429
2 034
2 053
2,60,
2,17(
2 24(
Southeast.
.
Virginia
West Virginia
Kentucky
990
944
Tennessee
North Carolina
South Carolina
973
891
Georgia
Florida
Alabama
- - __
Mississippi
Louisiana
Arkansas.-
___
968
1,180
866
_
_ _
Southwest
Oklahoma. _ _
Texas
_
New Mexico
Arizona
Rocky Mountain
789
1,032
875
933
981
751
927
994
940
850
1,037
893
1,081
1,139
1,071
1 137
1,181
1,160
1 229
1,223
1,199
1 222
1,239
1,119
1,281
1,313
1,181
1,368
1,377
1,210
1 419
1,369
1,236
1 448
1,436
1,259
1 532
1,510
1,334
1 543
1,561
1,377
1 620
1,626
1,429
,727
,531
1 776
1,804
1,581
1 877
1,919
1,692
2 038
2,060
1,855
2 22'
2,277
2,05$
947
1,191
1,034
1,281
1,167
1,358
1,006
1,241
1,443
1,071
1,288
1,526
1,124
1,259
1,520
1 100
1,375
1,620
1,233
1,446
1,723
1,304
1,469
1,768
1 371
1,519
1,827
1 404
1,609
1,936
1,465
1,639
1,950
1 488
1,678
1,970
1 508
1 775
2,051
1 577
1,879
2 145
1 673
2 009
2,296
1 778
2 174
2 438
1 922
2,37£
2,614
2,066
908
1,020
1,396
1,142
1,026
1,500
1,194
1,040
1 614
1,207
1,128
1 613
1,279
1,203
1,666
1,377
1,205
1 655
1,372
1,268
1 687
1,486
1 309
1 748
1,545
1 436
1 843
1 627
1 486
1 943
1 746
1 625
2 085
1 843
1,777
2,277
2,01C
815
880
1,085
755
830
1,120
1,205
886
923
1,279
1,346
1,035
1 346
1,044
691
799
825
927
992
696
1,187
1,256
1,297
1,431
1,513
1,555
1,570
1,629
1,713
1,783
1,836
1,899
1,922
1.978
2 024
2 095
2 200
2 338
2.52C
1,144
1,199
1,169
1,291
1,143
1,349
1,284
1,469
1,391
1,544
1,467
1,583
1,445
1,611
1,507
1,667
1,580
1,752
1,641
1,823
1, 762
1,851
1,805
1,913
1,861
1 925
1,910
1,984
1,925
2 027
1,992
2 105
2,121
2 216
2 310
2 350
2,462
2,542
1,084
1,274
1,116
1,269
1,177
1,331
1,305
1,567
1,366
1,662
1,386
1,653
1,412
1,623
1,504
1,677
1,593
1,767
1,702
1,803
1,827
1 863
1,917
1,948
1,890
2 032
1,953
2,070
2 015
2 171
2,052
2 219
2 100
2 281
2 235
2 371
2,38£
2,544
1,419
1,360
1,457
1,659
1,727
1,699
1,661
1,742
1,821
1 919
2 001
2 064
2 108
2 154
2 284
2 324
2 386
2 536
2,697
Montana-.
Idaho
Wyoming
1,616
1,316
1,595
1,385
1 249
1,606
1,622
1 295
1,669
1,760
1,443
1,911
1,786
1 588
1,867
1,779
1 508
1,893
1,729
1 503
1,819
1,852
1,539
1,857
1,892
1 667
1,939
1,944
1 720
2 054
2,059
1 800
2 143
2,010
1 872
2 234
2,037
1 849
2 263
1,973
1 913
2 303
2 271
2 033
2 386
2 266
2 048
2 419
2 266
2 128
2 435
2 436
2 398
2 561
2,623
2,44f
2,73£
Colorado
Utah
1,433
1,240
1,405
1,244
1,487
1 309
1,744
1,492
1,830
1 541
1,767
1,578
1,719
1 553
1,814
1,625
1,887
1,707
2,022
1 794
2,115
1 831
2,196
1 926
2,275
1 968
2,343
2 039
2 425
2 163
2,483
2 215
2,570
2 270
2,707
2 362
2,91(
2,48*
1,715
1,689
1,801
1,985
2,103
2,144
2,117
2,239
2,335
2,400
2,433
2,567
2,622
2 694
2 811
2 910
3 047
3,176
3,384
._
1,600
1,621
1,569
1,573
1,674
1,620
1,821
1,789
1,919
1,875
2,001
1,868
2,001
1,821
2,038
1,928
2,093
2,015
2,170
1,995
2,231
2,082
2 318
2,191
2,349
2,235
2 455
2,275
2 593
2 373
2 622
2,472
2 722
2,609
2,901
2,761
3,22S
2,90*
_
1,814
1,752
1,822
1,730
2,019
1,852
2,250
2,044
2,431
2,167
2,462
2,204
2,437
2,172
2,549
2,313
2,500
2,419
2,588
2,489
2 651
2,511
2,767
2,651
2,856
2,710
2 928
2,777
3 241
2,887
3 244
2,997
3,246
3,142
3,302
3,261
3,49'
3,45'
1 407
1 354
2,385
1 387
2,835
I 580
2,614
1 747
2,493
1 796
2,302
1 802
2,275
1 837
2,446
1 900
2,325
1 944
2 357
1 987
2,609
2 156
2,846
2 369
2 704
2 488
2 742
2 530
2 807
2 639
3,088
2 771
3,194
2 882
3,421
3,124
Far West
Washington
Oregon.Nevada
California.
Alaska
Hawaii
__
NOTE.—Computed from unrounded data.
1. Includes Alaska and Hawaii 1960-66 but not in earlier years.
Source: U.S. Department of Commerce, Office of Business Economics.
Tables 4-27.—Personal Income
[Millions of dollars]
Table 4.— United States
Table 5.— New England
Table 6.— Maine
Table 7.-New Hampshire
Item
Line
Table 8.— Vermont
1964
1965
1966
1964
494, 913
534,816
580,483
356,082
2,714
4,324
915
2,011
1,398
21,209
115, 570
71,980
43, 590
59, 418
16, 780
4,277
12, 503
391,066
2,729
4,517
956
2,075
1,486
23,264
128, 052
81, 033
47, 019
64, 289
18,045
4,624
13,421
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
Wage and salary disbursements
_
331, 108
2,701
Farms __
__ _
Mining.
4,115
Coalmining
873
Crude petroleum and natural gas. _ . . _ .
1,954
Mining and q'uarrying, except fuel
.__
1,288
Contract construction
19, 446
Manufacturing
_
107, 166
65, 970
Durables
_ _ _ __ ___
__
41, 196
N ondurables
55, 133
Wholesale and retail trade
15, 816
Finance, insurance, and real estate
4,012
Banking
11, 804
Other finance, insurance, and real estate
Transportation, communications, and public
26, 020
utilities
5,304
Railroads
5,704
Highway freight and warehousing
5,238
Other transportation
9,774
Communications and public utilities
38,328
Services _ . _
-.. _.. ... ..
1,960
Hotels and other lodging places
7,324
Personal services and private households
7,608
Business and repair services
2,431
Amusement and recreation
19,005
Professional, social, and related services
61,719
G o vernment
Federal, civilian.
16, 990
Federal, military _ .
. . _ . . 9,666
State and local
35,063
664
Other industries.
27, 519
5,450
6,216
5,525
10,328
41, 569
2,090
7,634
8,453
2,621
20, 771
66, 258
18,042
9,753
38, 463
721
29, 640
5,541
6,774
6,161
11,164
45, 460
2,263
7,952
9,518
2,820
22, 907
74, 290
19, 792
11,767
42, 731
780
1,284
142
315
214
613
2,605
105
419
503
109
1,469
3,307
815
497
1,996
57
32
Other labor income
16, 618
18, 631
20,792
1,121
1,253
1,407
66
74
82
58
64
74
29
33
39
33
34
35
Proprietors' income Farm
Nonfarm
..
-
52,315
12, 135
40, 180
56,682
14,761
41,921
59, 277
16, 051
43,226
2,529
197
2,332
2,680
252
2,428
2,763
260
2,503
>244
76
168
290
113
178
281
97
184
130
6
124
138
8
129
144
10
133
112
33
78
115
35
79
131
49
82
36
Property income
70, 647
77, 096
83, 258
4,775
5,201
5,649
291
317
343
230
253
276
122
140
154
37
Transfer payments _
36, 725
39, 719
43, 917
2,382
2,521
2,755
200
211
235
129
138
152
84
88
95
38
Less: personal contributions for social insurance.
12,500
13, 394
17, 827
792
845
1,140
53
56
75
42
44
61
22
23
30
Line
Item
Personal income
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
__ _
_
--.-.--.
Table 16.— Delaware
Personal income
1
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
Wage and salary disbursements
Farms .
__
_ _
Mining
Coal mining
Crude petroleum and natural gas .
Mining and quarrying, except fuel
Contract construction
Manufacturing
_. __
Durables
Nondurables.-- _ __
Wholesale and retail trade
Finance, insurance, and real estate...
_ _.
Banking
Other finance, insurance, and real estate. . _
Transportation, communications, and public
utilities.
. _____
Railroads.
...
Highway freight and warehousing
Other transportation..
C ommunications an d public utilities
_.
Services
Hotels and other lodging places
Personal services and private households. ._
Business and repair services
Amusement and recreation
Professional, social, and related services
G o vernment
Federal, civilian
_ _
Federal, military _
State and local
Other industries
32
Other labor income .
33
34
35
Proprietors' income. _
Farm
Nonfarm
36
Property income
37
Transfer payments
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
38
_
_ _
_
Less : personal contributions for social insurance.
See page 36 for footnotes.
32
1965
1966
1964
1965
1966
31,378
33, 608
36,415
2,100
2,273
2,422
1,608
1,733
1,901
858
946
1,066
21,364
88
25
C)1
C)
25
1,177
8,262
5,102
3,159
3,426
1,133
281
852
22,798 24,980
87
89
27
27
C11)
0)1
C)
C)
26
27
1,260
1,357
9,880
8,849
6,363
5,547
3,302
3,518
3,626
3,900
1,185
1,273
297 c 321
888
953
1,352
21
1
1,436
18
1
1,556
20
1
1,103
7
2
1,184
7
2
1,317
8
2
533
10
6
592
8
6
679
8
6
1
67
483
133
350
209
47
15
32
1
89
514
141
372
223
49
15
34
1
87
571
162
409
240
53
17
36
2
56
439
205
234
159
45
12
33
2
63
476
226
250
173
49
13
35
2
80
536
267
268
192
53
14
39
93
24
20
9
39
126
11
28
12
4
70
300
77
.78
145
5
95
25
22
8
40
136
12
28
13
5
77
307
76
76
154
5
97
22
24
9
43
147
13
30
15
5
85
336
83
78
175
6
60
5
16
5
34
124
11
22
15
7
70
208
63
46
98
2
63
5
18
5
35
134
11
23
15
8
77
214
62
43
109
2
67
5
19
6
38
149
13
25
18
9
85
226
67
38
122
3
1,352
144
339
222
646
2,856
112
431
547
114
1,652
3,497
834
511
2,153
60
1,440
141
367
245
688
3,139
122
446
621
122
1,827
3,809
921
542
2,346
65
Table 17.— Maryland
Table 18.— District of
Columbia
1964
1965
1966
1964
1965
1966
1964
1965
1966
Table 19.— Great Lakes
1964
1965
1966
1,550
1,688
1,811
9,755
10,681
11,573
2,822
2,957
3,182 104,786 115,094 125,063
981
6
0)
1,086
6
0)
1,181
5
1
2,133
0)
0)
0)
0)
0)
0)
0)
(0
86
526
121
405
148
40
14
26
8,536
21
19
1
1
17
559
1,899
1,142
757
1,341
373
70
303
1,997
(>)
0)
7,792
24
18
1
0)
16
518
1,735
1,030
706
1,201
343
65
278
1,904
0)
0)
7,119
25
16
1
C1)
15
470
1,631
966
665
1,096
315
60
254
74
66
8
58
205
69
12
57
72
68
8
60
210
74
15
59
64
15
16
8
25
122
3
25
22
6
65
187
32
43
112
2
539
115
101
120
204
840
32
156
201
43
408
2,176
1,175
329
672
12
570
120
111
120
220
946
34
167
232
47
467
2,423
1,325
344
754
13
614
120
121
128
245
1,057
36
177
280
53
511
2,639
1,378
428
832
15
104
16
6
28
54
359
18
70
46
7
218
1,009
778
116
115
17
104
15
6
26
57
379
20
69
51
8
232
1,071
827
120
123
18
67
437
101
336
123
33
12
22
56
15
14
6
21
97
3
22
18
5
49
160
28
44
89
2
82
486
117
369
135
37
13
24
61
15
16
7
23
108
3
24
19
6
57
168
30
38
100
2
1964
1965
1966
1964
W
6
32
173
116
57
80
21
7
14
38
8
10
3
17
84
9
15
6
5
49
88
23
4
61
1
1965
C)
1966
6
38
203
143
60
86
23
8
15
6
45
244
178
66
95
26
8
18
40
8
11
3
18
90
9
16
6
6
53
97
23
4
70
1
44
8
12
4
19
101
11
17
8
7
59
110
25
4
81
1
Table 20.— Michigan
1964
1965
1966
22,701
25,447
27,685
78,880
251
496
157
» 102
238
4,349
34, 813
25, 826
8,987
12, 466
3,015
740
2,275
86, 667
239
517
!£9
$5
253
4,984
38,340
28, 656
9,683
13, 566
3,265
807
2,458
15,888
56
88
17,850
51
95
19,558
50
101
70
73
8
64
220
77
15
62
72,237
274
473
148
105
220
3,798
31, 764
23, 295
8,470
11,387
2,839
692
2,147
10
79
731
7,867
6,504
1,364
2,190
476
137
339
9
86
917
8,818
7,359
1,459
2,517
519
150
369
8
93
1,064
9,580
8,020
1,560
2,720
580
167
413
109
13
6
27
62
401
20
67
54
8
253
1,164
883
140
141
19
5,219
1,269
1,461
564
1,925
6,903
286
1,226
1,295
337
3,759
9,490
2,045
610
6,835
89
5,570
1,319
1,609
606
2,036
7,582
305
1,305
1,430
357
4,184
10, 240
2,146
611
7,483
98
5,931
1,321
1,751
668
2,191
8,301
332
1,371
1,616
387
4,595
11,422
2,364
753
8,305
103
911
147
274
78
412
1,456
44
271
280
70
791
2,094
318
126
1,650
18
993
159
308
83
444
1,634
50
297
310
76
902
2,285
338
121
1,827
20
1,076
161
328
95
492
1,766
56
307
344
82
977
2,598
377
131
2,091
22
54
62
68
300
332
370
55
57
61
4,088
4,663
5,201
939
1,099
1,220
114
27
87
129
37
92
125
30
95
789
78
711
855
101
754
862
85
776
133
129
133
133
129
133
9,999
1,943
8,056
11,206
2,632
8,574
11,799
2,956
8,843
2,037
282
1,755
2,204
265
1,938
2,348
348
2,000
348
351
377
1,235
1,349
1,461
482
509
552
14, 186
15, 783
17,049
2,919
3,321
3,595
596
654
407
6,873
7,354
8,134
1, 436
1,535
1,738
2,792
3,787
517
562
776
83
29
89
29
100
41
285
301
733
389
333
86
352
88
103
2,597
by Major Sources, 1964-66
[Millions of dollars]
Table 9.— Massachusetts Table 10.— Rhode Island
Table 11.— Connecticut
Table 13.— New York
Table 12.— Mideast
Table 14.— New Jersey Table 15.— Pennsylvania
Line
1964
1965
1966
17, 675
2,352
2,509
12, 186
1,618
1,740
1965
1966
15, 431
16,440
10,563
11, 238
1964
(i)
(i)
23
9
(i)
(i)
24
9
25
9
4
1
1965
2,730
9,030
9,708
1,912
6,196
6,608
7,330
(i)
(i)
(i)
(i)
(i)
(i)
4
1
(i)
9
572
9
596
9
636
3,725
2,106
1,619
1,817
3,952
2,269
1,683
1,924
4,338
2,566
1,772
2,067
587
155
432
3
1
1964
616
162
454
663
175
487
673
55
161
142
314
713
56
175
149
334
759
54
188
165
351
1,436
1,594
1,760
23
7
25
7
1
89
596
343
253
252
74
17
57
1
95
649
381
268
268
79
19
59
1
104
719
435
284
288
84
21
63
96
7
29
13
47
181
5
32
27
10
106
365
97
112
156
4
102
7
31
14
50
197
6
33
31
11
116
408
110
128
171
4
329
43
79
43
164
670
22
129
127
30
362
681
112
66
504
13
345
44
85
44
172
720
22
131
134
31
403
739
120
64
556
14
1966
24
7
6
361
6
379
406
3,056
2,386
3,473
2,754
669
953
370
80
290
82, 233
217
401
220
35
146
29,896
31,855
34,434
17, 000
20,168
21,581
23, 641
8,596
5,576
3,020
2,975
1,099
9,216
6,044
3,172
3,178
1,268
10,100
6,700
3,400
3,413
1,726
1,818
84
70
1
16
53
78
75
1
17
57
68
80
2
19
.60
45
33
2
1
29
874
3,295
3,422
3,693
1,206
515
526
7,684
1,133
1,504
2,163
2,884
12, 363
1,747
2,575
1,791
2,783
1,823
3, 102
5,612
14, 767
4,832
1,137
8,798
760
457
6,138
16, 406
5,144
1,345
9,917
2,522
5,830
1,222
1,154
1,197
1, 234
1,111
1,148
1,183
166
3
163
174
4
170
180
4
175
722
36
687
766
44
723
794
48
746
2,315
2,499
2,706
346
359
391
1,471
1,633
1,245
1,317
1,432
208
219
242
516
548
391
416
556
68
76
99
217
230
683
5,169
13, 721
4,545
1,131
8,046
709
151
540
737
368
460
1,242
1,225
5,573
313
860
1,421
775
372
491
1,280
1,278
5,891
312
878
835
370
517
1,426
1,380
6,324
312
883
5,814
3,161
2,653
2,374
146
338
293
429
1,713
65
284
544
86
735
1,540
1,708
2,693
6,246
1,246
278
276
2,924
6,878
1,282
293
452
226
4,330
4,724
5,303
1,182
467
498
2
1
30
933
6,241
3,426
2,815
2,544
722
169
553
1,279
151
368
310
450
1,828
67
291
559
89
822
42
34
2
1
31
975
6,765
3,730
3,035
2,755
778
179
598
1,387
152
407
349
478
1,994
72
300
611
96
914
1,994
2,240
483
221
553
284
1,289
1,403
57
281
215
18
48
971
820
229
591
1,652
440
378
203
631
2,107
85
355
346
85
1,237
2,686
889
138
1,658
1965
54
286
217
18
51
863
244
620
461
406
210
649
1966
43
290
220
17
53
918
259
659
463
437
224
693
2,268
2,465
1,342
2,865
1,471
3,299
1,016
1,808
2,127
25
26
89
362
382
92
921
137
96
372
427
99
156
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
61
4,628
5,093
1,846
2,030
2,222
797
895
988
1,117
1,251
1, 384
32
10, 103
10, 509
10,862
4,863
4,970
5,173
1,570
1,646
1,705
2, 634
2,779
2,864
9,411
9,696
9,995
4,591
4,649
4,794
1,513
1,575
1,622
2,375
2,497
2,574
33
34
35
1,781
18,428
19, 905
21, 582
9,327
10, 137
11,015
2,762
3,061
3,315
4,273
4,499
4,862
36
599
8,846
9,497
10, 439
4, 042
4,407
4,856
1,324
1,418
1,540
2,469
2,576
2,803
37
319
3,052
3,246
4,311
1,356
1,425
1,878
531
572
781
765
831
1,120
38
138
692
813
868
Table 24.— Wisconsin
272
67
322
72
1,860
45
34
1964
165
Table 23.-Illinois
Table 22.-Indiana
23, 767
15, 646
7,163
1,135
1,399
1,953
2,676
11,421
4,170
Table 21.— Ohio
22, 095
14, 627
6,852
1,100
1,297
1,892
2,564
10, 689
435
51
20,550
42,281
371
45
93
47
187
786
24
134
146
33
448
836
148
76
613
14
383
48
63, 669
39,380
2,404
342
43
59, 499
37, 435
2,224
105
1,186
56, 156
2,134
395
86
309
93
1,108
1966
686
158
528
718
1,018
82
32
488
219
1965
1,965
12, 511
6,847
5,663
7,452
3,239
673
1,040
456
211
1964
1,868
11,638
6,254
5,384
7,096
2,999
605
448
201
1,034
1,893
179
424
225
38
161
1966
1,893
11, 039
5,855
5,184
6,717
2,871
545
1,775
208
413
222
37
154
94,771
1965
4,923
31, 873
18, 548
13, 325
15, 329
5,425
1,372
4,053
36
1,690
56
208
405
58
87, 481
1964
4,572
29,385
16, 879
12,506
14, 364
5,038
1,280
3,758
33
52
202
350
55
936
1966
4,349
27, 583
15,668
11,915
13, 488
4,795
1,209
3,586
92
7
27
12
45
166
5
31
24
10
96
340
91
101
147
4
48
195
319
52
821
1965
10, 621 120, 729 128, 774 138,436
2,847
2,199
648
908
358
75
282
1964
379
Table 25.— Plains
23
57
26
71
30
83
Table 26.— Minnesota
23
258
282
290
Table 27.— Iowa
Line
1964
1965
1966
1964
1965
1966
1964
1965
1966
1964
1965
1966
1964
1965
1966
26,821
29,139
31, 670
12,577
14,030
15,230
32, 247
35, 133
38,089
10, 439
11,345
12,390
37,958
41,844
18,680
20, 270
22, 206
8,760
9,603
10,618
22, 108
23,810
26, 192
6,801
7,347
8,093
22,952
24,504
54
131
59
34
38
939
8,552
6,185
2,367
2,866
663
158
505
1,346
343
395
128
480
1,688
60
320
308
90
909
2,415
683
142
47
136
61
32
43
1,080
9,332
6,810
2,522
3,092
702
165
537
1,420
355
435
128
502
1,849
65
339
337
96
1,011
2,584
722
143
43
141
67
30
44
1,261
10, 302
7,558
2,744
3,315
749
176
573
1,508
353
478
137
540
2,026
71
358
381
103
1,112
2,837
765
178
39
58
22
10
26
499?
4,137
3,163
974
1,287
322
79
244
36
57
22
9
25
562
4,564
3,537
1,027
1,401
342
86
256
612
168
181
42
221
665
28
141
87
29
380
665
180
200
46
239
724
30
151
96
30
416
1,131
1,244
242
61
941
9
34
57
23
10
25
639
5,060
o, 956
1,103
1,548
374
95
279
708
176
220
50
262
802
34
162
110
32
463
2,969
1,987
982
1,052
255
65
190
0)
18
423
3,193
2,164
1,030
1,150
269
70
199
0)
19
500
3,480
2,378
1,102
1,267
288
77
211
280
270
10
84
176
269
288
11
82
195
1,453
6,292
3,415
2,877
4,397
1,130
1,608
6,713
3,718
2,995
4,707
1,194
1,719
7,607
4,382
3,225
5,126
1,278
2,186
2,297
2,441
2,591
2,798
3,048
1,540
4,304
1,015
1,683
4,576
1,067
1,851
5,043
1,170
2,717
2,959
3,249
323
807
342
851
273
298
11
80
208
368
910
48
96
(i)
1
94
371
1,555
805
750
1,112
288
79
209
1,695
902
793
6,649
7,522
8,258
1
6,655
3,599
3,876
4,349
(0
(0
18
229
73
22
1
1
20
281
1,143
1,233
1,409
701
532
736
185
58
127
836
573
820
201
63
138
2
3
4
5
6
7
8
9
10
11
12
13
14
15
296
89
69
18
120
374
15
73
45
15
226
627
132
18
477
11
309
88
76
19
126
409
16
76
51
15
251
678
139
17
523
12
330
90
84
21
135
449
18
80
56
16
280
750
155
20
575
13
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
37
113
(i)
1
112
476
1,926
1,073
853
1,194
1,304
534
160
108
94
172
754
34
112
109
29
470
972
184
36
751
11
571
167
119
103
183
824
36
120
124
30
515
301
84
218
322
90
232
68
18
1
16
207
632
510
681
174
54
120
66
19
1
29
32
1,157
1,302
1,457
375
424
470
1,108
1,230
1,382
274
308
348
177
198
226
32
3,098
555
626
3,519
3,591
1,288
1,545
605
940
1,480
1,884
1,133
2,015
1,240
2,695
7,961
4,274
3,687
1,447
2,614
7,490
3,914
3,576
1,332
2,473
6,007
2,565
3,442
1,073
1,074
408
880
1,404
751
775
33
34
35
1,414
496
570
2,300
2,463
2,685
1,275
1,615
1,630
304
971
1,043
275
74
10
1,901
525
481
268
626
2,013
535
526
295
657
2,132
537
573
330
692
2,459
2,681
2,945
1,290
2,868
1,428
3,067
1,570
3,390
125
387
537
119
672
240
26
127
405
594
125
693
248
905
137
424
675
138
777
331
896
479
91
140
54
194
694
32
113
92
31
427
1,061
152
37
871
12
492
912
507
95
152
55
205
763
34
119
107
31
472
1,211
170
39
1,002
13
681
471
287
746
118
464
360
109
572
49
695
516
306
779
124
483
393
116
550
53
711
560
335
835
133
508
434
121
623
58
502
155
96
89
163
690
33
106
98
26
427
911
177
38
696
11
345
728
1,977
2,066
2,132
3,561
3,906
4,203
1,529
1,685
1,820
4,695
5,228
5,660
1,482
1,643
1,771
5,857
6,410
6,878
1,234
1,871
1,993
2,185
814
877
965
2,002
2,145
2,361
750
804
885
2,950
3,181
3,526
677
712
761
1,023
296
321
443
814
871
1,172
257
278
373
915
971
1,282
219
47
106
(i)
2
104
425
10,373
641
26
1,268
572
17
382
43
20
6,037
2,282
1,121
552
292
982
0)
47
18
9,498
5,583
1966
2,126
1,893
397
269
914
1,520
9,918
6,744
3,174
4,715
1,274
50
17
8,622
26,891
1965
1,956
1,719
323
254
869
1,368
8,905
5,957
2,948
4,305
1,183
68
197
79
47
72
45,355
1964
1966
1,037
1,386
1,590
28
1,246
8,238
5,456
2,782
3,993
1,123
69
191
73
52
66
1965
448
85
129
48
186
636
29
107
82
29
389
982
143
41
797
11
228
62
841
8
26
76
179
67
51
61
1964
581
751
1,070
206
41
823
13
673
774
776
704
1,324
1,433
1,046
1,188
1,280
36
728
801
502
542
604
37
231
310
154
167
215
38
33
Tables 28-51.—Personal Income
[Millions of dollars]
Table 28.— Missouri
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
Personal income..
_.
_
Wage and salary disbursements
Farms _
_ __ _
Mining
Coal mining _
Crude petroleum and natural gas _ _ _
Mining and quarrying, except, fuel
Contract construction _ _ _
_ _
Manufacturing
__ __ __ _.
Durables
Nondurables
-_
_
____
Wholesale and retail trade
Finance, insurance, and real estate
- B anking
Other finance, insurance, and real estate
Transportation, communications, and public
utilities
Railroads
Highway freight and warehousing
Communications and public utilities
Services
Hotels and other lodging places
Personal services and private households
Business and repair services
Amusement and recreation
Professional, social, and related services
Government Federal, civilian . . . .
Federal, military
State and local
Other industries.. _ .. .
..-...-
Table 30.— South
Dakota
Table 29.— North
Dakota
Item
Line
Table 31.-Nebraska
1964
1965
1966
1964
1965
1966
1964
1965
1966
1964
11,023
11,980
12,856
1,288
1,500
1,533
1,319
1,512
1,643
3,484
3,832
4,181
5,572
6,001
6,511
7,041
48
42
5
1
37
428
2,221
1,257
964
1,336
349
88
261
7,566
47
48
5
1
43
481
2,364
1,353
1,011
1,429
370
93
278
8,287
47
51
5
1
45
496
2,633
1,552
1,081
1,547
396
99
297
694
23
10
2
7
1
78
35
13
22
153
27
11
16
734
25
11
2
9
1
74
40
17
23
162
29
11
18
773
24
12
2
9
1
56
47
21
25
170
30
12
18
688
18
14
C1)
0)
14
46
73
18
56
147
30
14
16
714
16
14
0)
0)
14
45
73
19
54
155
32
15
17
760
17
14
0)1
C)
14
41
81
23
58
165
34
16
18
1,948
37
10
2,029
34
10
2,170
39
11
5
5
127
372
147
225
375
119
31
88
4
6
135
384
161
223
397
126
32
93
4
6
144
431
196
235
429
133
35
98
3,399
39
79
2
68
9
197
894
543
351
593
141
46
95
3,548
36
78
2
66
9
219
924
564
360
635
150
49
101
3,897
36
75
2
64
9
224
1,082
681
401
690
162
53
108
694
158
176
129
231
792
38
147
132
37
438
1,122
347
141
635
9
739
167
192
142
238
851
38
152
140
40
480
1,227
374
147
706
10
784
163
207
157
257
921
42
160
153
42
523
1,400
418
202
779
11
69
29
9
3
27
85
5
14
5
2
59
213
46
52
116
2
70
28
11
75
29
11
54
11
14
57
11
15
60
11
15
28
91
5
15
5
30
98
6
16
6
3
69
259
51
68
140
2
26
92
4
16
7
4
61
210
59
35
117
3
28
97
4
16
7
4
65
221
62
35
125
3
30
103
4
17
8
5
70
242
65
38
139
3
212
95
38
16
63
229
10
41
32
8
137
461
106
101
254
6
220
98
40
16
66
241
11
42
33
9
147
476
107
93
276
6
231
100
42
17
73
261
11
44
34
9
162
485
109
87
290
7
359
145
70
28
116
330
14
66
42
16
192
759
149
187
423
8
368
144
76
28
120
355
15
69
47
16
208
774
153
164
457
9
390
151
82
30
128
392
16
72
55
17
232
838
168
167
503
9
0
63
229
48
58
122
2
1965
Table 32.-Kansas
1966
1964
1965
1966
32
Other labor income
360
400
445
25
28
30
27
29
31
84
91
100
162
177
202
33
34
35
Proprietors' income
Farm
Nonfarm
1,326
396
930
1,558
600
958
1,532
544
988
299
183
116
436
313
123
409
283
127
307
171
135
433
300
134
493
355
138
655
324
331
855
507
348
1,002
643
359
867
371
496
992
480
512
1,062
536
527
36
Property income
1,669
1,784
1,909
199
222
236
213
243
260
629
670
716
867
978
1,045
37
Transfer payments
895
959
1,067
102
112
125
115
125
138
249
271
301
409
444
490
38
Less: persona] contributions for social insurance.
268
286
385
31
32
40
31
32
40
81
84
108
132
139
185
Line
Item
--
-
.
. ..
Table 41.— Florida
Table 40.— Georgia
1
Personal income
__ _ _
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
Wage and salary disbursements
Farms
._
Mining
Coal mining
Crude petroleum and natural gas.
Mining and quarrying, except fuel
Contract construction
__
M anuf acturing
Durables
Nondurables .. _ _
Wholesale and retail trade. _
_
_ _____
Finance, insurance, and real estate
Banking
__
_ - _ _
Other finance, insurance, and real estate
Transportation, communications, and public
utilities.. _
._
. __
Railroads
_ _ _
__ _
17
18
Highway freight and warehousing
19
Other transportation. _ _
-._
20
Communications and public utilities
21
Services
_.
22
Hotels and other lodging places
23
Personal services and private households
24
Business and repair services
25
Amusement and recreation
26
Professional, social, and related services
27
Government
_ __ ._ 28
Federal, civilian
_
29
Federal, military
30
State and local. .
31
Other industries-.
_
Table 42.— Alabama
1965
1966
1964
1965
1966
6,099
6,700
7,254
3,423
3,751
4,153
6,788
7,423
8,235
4,126
34
48
32
2
14
231
1,279
687
592
597
158
37
121
4,519
30
49
33
2
14
263
1,448
792
656
643
170
41
128
4,972
37
47
31
2
14
298
1,580
851
730
706
184
46
138
2,007
58
38
0)
34
4
113
565
291
274
300
74
24
51
2,231
58
36
0)
32
4
143
643
347
296
328
79
26
53
2,501
51
37
(0
32
5
165
745
414
332
360
88
29
59
4,355
45
321
4,800
43
351
5,387
38
380
300
20
333
880
369
511
746
184
46
138
329
23
417
949
412
537
832
202
50
152
354
25
550
1,051
464
586
929
222
55
167
792
96
111
297
288
1,500
156
330
242
95
678
2,212
488
527
1,197
44
287
69
59
43
116
451
13
142
76
11
209
1,030
453
151
426
10
302
68
67
41
126
509
15
148
112
11
224
1,094
470
160
464
12
325
72
74
44
135
559
16
153
137
12
240
1,223
487
213
524
12
142
35
27
13
67
222
11
96
23
5
87
486
119
104
264
10
150
36
29
15
71
257
12
98
45
5
97
526
128
111
287
11
159
37
30
17
76
278
13
104
47
5
109
606
142
150
314
11
474
68
62
191
153
488
22
143
81
20
222
870
169
156
545
13
503
64
69
207
163
535
24
149
96
21
245
952
176
164
612
15
528
67
76
213
172
591
27
156
112
22
274
1,083
193
209
681
16
1966
1964
1965
1966
1964
8,647
9,544
10, 579
12, 982
14, 132
15,410
6,011
59
28
C1)
7,440
41
32
7,963
129
52
8,733
142
57
27
291
1,750
644
1,106
1,063
289
65
224
6,610
54
29
0)
0)
29
349
1,962
746
1,216
1,179
312
71
241
32
375
2,203
857
1,345
1,296
340
80
260
6
46
646
1,296
721
576
1,612
462
94
368
7
50
761
1,415
794
621
1,783
497
103
394
9,674
156
62
0)
8
54
771
1,627
942
685
1,961
548
112
436
501
104
114
107
175
587
25
218
93
22
229
1,412
413
451
549
31
545
108
126
121
190
649
28
230
104
25
261
1,500
443
439
617
31
607
111
142
143
212
752
34
245
119
32
322
1,762
501
558
702
34
667
91
91
240
245
1,225
131
300
177
74
543
1,837
394
471
972
37
714
94
96
262
262
1,339
142
311
208
84
593
1,985
431
471
1,084
40
0)
1964
1966
1965
(1)
Table 44.— Louisiana
1965
1964
(1>
Table 43.— Mississippi
32
Other labor income
277
321
363
331
377
427
202
233
258
101
117
134
219
252
281
33
34
35
Proprietors' income
Farm
Nonfarm__-
1,009
336
674
1,126
398
728
1,190
439
751
1,444
399
1,045
1,440
348
1,092
1,460
332
1,128
710
261
450
765
287
478
762
269
493
668
380
287
695
377
318
748
421
327
797
228
569
801
208
592
898
289
609
36
Property income
966
1,066
1,161
2,321
2,548
2,755
676
766
827
396
437
473
1,000
1,124
1,207
760
1,226
542
584
656
324
352
405
575
623
695
108
158
175
234
37
38
Transfer payments.-
._
_ _ __
Less: personal contributions for social insurance
See page 36 for footnotes.
34
607
223
667
246
333
303
1,363
330
1,535
441
158
167
222
73
80
by Major Sources, 1964-66
[Millions of dollars]
Table 33.— Southeast
Table 34.— Virginia
Table 35.— West
Virginia
Table 36.— Kentucky
1966
1964
1965
1966
1964
1965
1966
1964
1965
88,811
97,524
9,909
10,736
11, 641
3,454
3,691
3,937
5,980
58,668
655
1,136
496
420
221
3,800
16,500
7,121
9,380
9,507
2,449
595
1,854
65,387
637
1,206
521
448
237
4,333
18, 477
8,136
10, 341
10, 476
2,669
658
2,011
7,222
51
70
53
1
7,819
49
73
55
1
16
458
1,546
661
886
1,018
278
70
208
18
508
1,672
709
963
1,118
305
75
230
8,606
45
77
58
1
18
534
1,820
776
1,044
1,210
331
84
247
2,315
9
287
263
16
8
111
769
462
306
301
63
19
44
2,466
8
311
286
17
8
129
804
508
296
321
66
20
46
2,655
7
325
300
17
8
159
854
541
313
350
70
22
48
3,780
43
141
110
18
14
227
1,156
658
497
584
137
38
98
4,502
983
989
922
1,609
6,421
372
1,817
1,059
257
2,914
13,537
4,011
3,147
6,379
162
4,885
1,017
1,100
1,020
1,748
7,109
417
1,911
1,223
288
3.269
15, 421
4,385
3,918
7,117
175
534
152
102
106
175
739
42
185
153
24
334
2,516
1,171
698
648
11
566
154
113
112
187
806
48
197
167
26
368
2,709
1,265
726
718
12
610
160
122
122
205
885
53
207
190
29
407
3,082
1,372
896
814
14
237
83
38
15
101
192
11
39
20
10
111
346
71
17
258
2
251
88
40
15
107
204
12
41
22
11
118
371
73
15
282
2
1964
1965
81,417
53,651
664
1,061
466
389
205
3,224
14,963
6,326
8,637
8,647
2,265
547
1,718
4,220
967
897
856
1,500
5,882
337
1,740
905
236
2,664
12, 575
3,727
3,096
5,752
151
C)
C)
265
91
43
16
115
212
13
42
25
12
120,
412
80
18
314
2
Table 37.— Tennessee
1966
1964
6,513
7,143
4,076
40
146
113
18
15
255
1,271
738
533
639
146
42
104
4,571
48
156
123
19
15
304
1,417
833
584
697
158
45
112
327
122
60
35
109
367
16
91
44
19
196
792
183
214
396
7
343
123
67
37
116
390
17
94
49
20
210
840
197
209
434
7
Table 38.— North
Carolina
Table 39.— South
Carolina
1964
1965
1966
8,611
9,328
10, 165
11,321
5,792
42
36
9
6,225
93
13
6,865
89
15
7,754
90
17
(i)
(i)
(i)
13
301
2,335
695
1,640
952
245
60
185
15
365
2,597
786
1,811
1, 055
266
65
201
17
439
2,942
927
2,015
1,181
288
72
216
403
60
160
42
141
598
23
213
75
20
268
1,274
205
402
667
11
439
61
181
45
152
649
25
222
84
22
296
1,377
223
414
741
12
485
64
203
53
166
713
29
236
94
24
330
1,587
248
512
827
13
1965
1966
7,143
7,847
4,764
38
32
8
(i)
24
247
1,682
653
1,029
784
203
49
154
5,188
33
35
8
(i)
27
279
1,846
732
1,113
857
217
53
164
27
340
2,103
871
1,232
956
234
58
176
386
127
73
40
125
426
20
100
54
21
231
991
235
273
483
7
323
94
104
36
89
511
21
146
95
15
233
938
280
111
546
7
342
94
114
38
96
548
25
151
104
16
251
1,023
316
107
600
7
372
98
126
43
105
604
29
161
118
17
279
1,097
313
131
653
8
0)
1964
Line
1965
1966
4,278
4,731
5,310
1
2,989
34
7
3,316
34
8
3,795
26
8
7
144
1,186
227
959
374
98
22
76
8
183
1,323
272
1,051
412
108
24
84
8
227
1,482
333
1,149
465
119
27
92
2
3
4
5
6
7
8
9
10
11
12
13
14
15
152
35
35
17
65
295
10
104
40
8
133
692
166
249
277
6
162
35
39
18
69
312
12
111
41
9
140
769
184
274
311
6
180
37
44
22
78
351
14
114
54
9
160
929
206
370
352
7
16
18
19
20
21
23
24
25
26
27
28
29
30
31
2,536
2,893
3,256
283
317
350
139
152
164
189
210
236
243
277
316
305
354
404
150
175
200
32
10, 061
3,622
6,439
10, 461
3,619
6,842
10,975
3,919
7,056
865
217
648
886
214
672
866
173
694
264
29
235
288
31
257
288
23
265
865
302
563
984
382
602
1,018
398
620
898
254
643
995
285
710
1,020
287
733
1,327
631
696
1,289
551
738
1,406
645
761
487
177
311
521
182
340
554
203
351
33
34
35
10, 434
11,601
12, 537
1,173
1,299
1,397
430
458
492
729
789
848
852
962
1,048
1,039
1,192
1,294
449
500
542
36
6,735
7,363
8,289
633
702
793
386
415
457
559
605
675
569
622
703
660
717
806
310
339
383
37
2,000
2,176
2,920
266
287
371
82
89
120
141
150
205
183
197
267
228
252
344
106
121
164
38
Table 45.— Arkansas
Table 46.— Southwest
Table 47.— Oklahoma
1964
1965
1966
1964
1965
1966
1964
1965
3,386
3,578
3,931
33, 923
36, 543
39,886
5,220
1,896
71
26
1
13
12
122
519
257
262
317
75
23
52
2,045
75
26
1
14
12
146
571
284
287
341
81
25
56
2,241 21,908
309
57
29
1,297
1
4
15
1,068
14
225
1,426
170
652
4,220
2,344
328
325
1,876
365
3,945
1,025
88
28
278
60
746
23,358
309
1,333
4
1,089
240
1,486
4,591
2,618
1,973
4,255
1,095
298
797
25, 934
312
1,369
4
1,115
250
1,668
5,239
3,096
2,143
4,631
1,186
321
866
3,193
27
281
2
270
9
178
544
329
215
552
141
46
95
174
55
43
11
64
207
11
62
26
8
100
380
103
72
206
6
184
56
48
12
68
222
12
64
28
8
110
392
105
57
230
7
1,966
362
412
419
773
2,730
149
631
547
110
1,294
5,549
1,542
1,304
2,703
45
2,115
379
459
444
833
3,010
163
665
600
119
1,463
6,355
1,752
1,620
2,983
48
280
35
61
74
110
332
13
73
51
14
182
853
304
186
364
6
195
58
54
10
73
239
13
66
30
9
121
437
119
61
257
8
1,877
360
378
397
743
2,528
132
601
423
104
1,268
5,241
1,468
1,304
2,468
41
Table 49.—
New Mexico
Table 48.— Texas
Table 50.— Arizona
Table 51.—
Rocky Mountains
Line
1966
1964
1965
1966
1964
1965
1966
1964
1965
1966
1964
1965
1966
5,655
6,099
23, 053
24, 889
27,319
2,117
2,266
2,390
3,533
3,734
4,078
11,084
11,843
12, 622
1
3,394
27
293
2
283
9
184
599
375
223
593
149
49
100
3,726
27
303
2
293
9
190
686
443
242
632
161
53
108
14, 898
214
778
15, 969
206
789
17, 856
209
810
2,742
56
141
773
38
1,176
3,918
2,156
1,763
3,309
839
214
625
1,611
19
115
2
49
64
109
108
69
38
230
58
16
42
2,450
54
132
753
36
1,021
3,468
1,844
1,624
3,018
770
199
571
1,545
23
118
2
53
63
114
100
65
35
219
57
15
41
2,339
46
123
743
36
936
3,195
1,656
1,539
2,777
716
187
530
1,477
23
116
2
55
58
108
101
66
34
210
54
14
40
1
122
203
380
293
87
406
113
31
82
1
131
167
425
333
91
424
120
34
85
1
140
193
527
428
100
460
128
37
90
7,230
149
288
22
97
169
538
1,250
765
485
1,297
305
91
215
7,568
145
309
23
100
187
567
1,265
765
500
1,374
318
97
221
8,166
162
329
23
104
202
567
1,391
852
539
1,453
334
103
231
2
3
4
5
6
7
8
9
10
11
12
13
14
15
292
35
68
75
115
343
14
77
50
14
190
906
320
183
403
8
316
36
78
79
124
374
15
79
53
15
212
1,030
365
218
447
8
1,298
247
267
297
486
1,642
79
443
274
68
778
3,315
848
906
i,561
26
1,367
249
293
317
507
1,801
91
466
317
73
853
3,500
893
904
1,704
28
1,470
262
327
332
549
2,014
101
495
361
81
977
4,079
1,030
1,165
1,884
31
121
35
20
10
57
251
13
28
123
34
20
10
59
268
13
29
129
36
20
11
63
279
14
30
7
204
490
162
106
222
3
7
219
520
168
108
244
3
7
228
559
180
108
271
3
178
43
29
16
89
302
27
56
59
16
144
582
154
107
321
5
184
44
31
17
91
317
30
59
59
16
153
623
162
110
352
5
200
46
35
22
97
344
34
62
63
17
168
688
177
129
382
6
703
231
144
78
249
792
59
126
135
39
433
1,897
639
319
939
10
731
235
152
82
263
842
65
129
146
42
459
2,004
664
312
1,029
13
778
245
162
91
279
912
69
134
161
43
504
2,227
752
362
1,113
14
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
97
109
122
1,001
1,104
1,240
148
162
181
692
767
862
56
60
64
105
115
133
314
336
370
32
725
408
318
671
355
315
765
440
325
4,277
1,278
2,999
4,681
1,588
3,093
4,889
1,707
3,182
710
217
494
809
310
499
830
317
513
2,935
846
2,089
3,189
1,044
2,146
3,361
1,156
2,206
227
83
144
260
97
163
293
125
168
405
133
272
423
137
285
403
109
295
1,456
431
1,025
1,692
631
1,061
1,733
637
1,096
33
34
35
402
462
495
5,086
5,566
5,954
789
880
934
3,543
3,868
4,139
257
290
305
498
529
577
1,545
1,657
1,764
36
343
374
419
2,469
2,707
3,034
502
540
600
1,544
1,696
1,906
150
164
185
273
306
343
828
887
980
37
77
83
111
819
873
1,164
122
130
172
559
600
805
51
53
68
87
89
119
288
298
391
38
35
Tables 52-62A. —Personal Income by Major Sources, 1964-66
[Millions of dollars]
Table 52.— Montana
Item
1964
Personal income
Wage and salary disbursements
Farms
...
Mining
Coalmining- .. Crude petroleum and natural gas .
Mining and quarrying, except fuel. Contract construction
M anufacturing
Durables Nondurables. _ . . . _ .
Wholesale and retail trade
Finance, insurance and real estate
B anking
Other finance, insurance and real estate
Transportation, communications, and public
utilities
Railroads - - .
Highway freight and warehousing
Other transportation
Communications and public utilities
Services
Hotels and other lodging places
Personal services and private households.-Buslness and repair services
Amusement and recreation
Professional, social, and related services
Government
Federal , civilian
.
Federal, military
State and local
Other industries . .
Table 54.— Wyoming
Table 53.—Idaho
874
4,989
5,275
5,700
2,218
2,348
2,502
70, 934
75,415
82, 045
537
20
64
2
40
22
43
42
12
30
80
17
8
9
3,306
41
86
9
40
37
243
594
352
242
608
164
40
124
3, 451
43
92
10
42
39
253
592
343
249
649
169
43
126
3,788
54
101
11
45
45
260
681
409
272
689
177
46
130
1,565
14
75
11
8
56
106
325
233
92
271
61
17
43
1,635
13
84
10
7
67
104
316
223
93
285
63
18
45
1,765
12
87
9
7
70
108
326
228
98
301
66
19
47
47,473 50,625
656
728
287
309
1
1
167
173
119
135
3,303
3,365
12, 680 13, 291
9,022
9,470
3,657
3,821
8,286
8,833
2,248
2,398
570
606
1,679
1,792
55,862
776
330
1
184
146
3,488
15, 071
10,959
4,112
9,491
2,517
651
1,865
67
30
10
7
21
49
12
9
6
3
20
156
40
24
91
1
298
62
71
47
117
400
27
64
59
22
228
869
265
187
416
4
313
64
74
51
124
423
28
65
65
22
242
912
270
183
459
5
334
65
79
58
132
462
30
68
73
23
268
1,023
294
229
500
6
148
57
33
12
46
148
8
22
23
8
87
415
204
26
186
2
152
58
34
12
48
158
8
23
25
9
92
458
225
27
205
2
162
60
38
13
51
170
8
25
28
10
100
531
274
30
227
2
3,519
551
725
•872
1,371
6,126
378
968
1,373
803
2,604
10, 247
2,413
1,762
6,072
121
3,770
576
779
938
1,478
6,683
405
1,012
1,503
903
2,859
11,118
2,607
1,813
6,697
132
4,183
590
850
1,112
1,631
7,320
447
1,056
1,712
968
3,137
12,545
2,937
2,224
7,384
142
74
81
2,211
2,446
2,757
229
40
189
235
40
195
7,660
1,358
6,303
7,732
1,263
6,469
8,054
1,376
6,678
311
328
10,035
10, 656
11, 500
164
182
5,520
6,073
6,605
67
89
1,966
2,117
2,732
1,712
1,842
1,462
1,662
1,704
951
31
48
1
11
36
73
125
77
48
171
33
15
18
1,006
29
50
1
12
37
83
135
86
49
181
35
15
19
1,070
36
52
1
11
40
81
143
93
51
193
37
17
20
880
43
20
950
41
22
0
20
60
165
90
75
167
32
12
20
«
22
81
180
101
80
179
35
13
22
1,006
40
25
0)
0)
25
75
199
110
89
190
37
14
23
823
845
529
21
60
2
38
20
56
41
13
28
79
15
7
8
527
19
62
1
39
21
46
42
13
29
79
16
7
9
113
54
15
8
35
93
9
15
10
3
56
262
72
48
142
2
118
56
16
9
37
99
10
16
11
3
59
274
75
47
151
2
124
59
18
9
39
106
10
16
12
3
65
295
81
53
160
2
82
31
16
4
30
106
5
16
38
4
44
203
55
32
116
2
82
28
17
4
33
115
9
17
40
4
46
212
57
29
126
3
91
32
18
4
36
124
9
17
43
4
50
222
63
26
134
3
64
27
9
6
22
44
9
9
5
2
18
149
44
26
79
1
66
29
9
7
21
47
11
9
5
3
19
149
37
25
87
1
45
50
22
23
24
138
148
165
70
120
37
83
131
46
86
595
126
469
661
179
482
670
172
498
206
22
184
134
140
706
750
805
290
62
67
369
397
442
151
125
130
169
64
51
41
264
112
152
362
203
158
331
168
163
108
29
79
Property income _
228
243
259
195
219
232
126
133
45
141
154
45
58
117
35
Table 58.—
Washington
Item
Property income
1965
1,593
366
211
154
._
1964
1966
47
Proprietors' income.
Farm
Nonfarm
1966
1965
321
172
149
Other labor income
1965
1966
43
Personal income
1964
1965
283
142
141
Wage and salary disbursements
Farms__
_.
_
Mining
Coal mining
Crude petroleum and natural gas
Mining and quarrying, except fuel _ _ _ - _
Contract construction
Manufacturing.. _ __
Durables
Nondurables _
_ __ __ .
Wholesale and retail trade
Finance, insurance and real estate
__ _
Banking.
_
Other finance, insurance and real estate
Transportation, communications and public
utilities
Railroads
Highway freight and warehousing
__
Other transportation
_
Communications and public utilities
Services _
Hotels and other lodging places ^
Personal services and private households. ._
Business and repair services
Amusement and recreation
Professional, social, and related services
Government.Federal, civilian.
Federal, military
State and local
Other industries _ _ _ _
1966
1964
Proprietors' income
Farm
Nonfarm..
Less: personal contributions for social insurance.
1965
1966
1964
51
19
25
19
1964
1965
1966
60,006
65,002
1,912
2,032
40,330
599
255
0
172
84
2,640
10, 581
7,519
3,062
6,993
1,968
488
1,481
44,324
645
272
0
182
91
2,670
11, 896
8,593
3,304
7,492
2,048
522
1,526
1,394
63
0
1,486
62
0
0
111
120
21
99
198
62
14
48
0
128
126
22
104
216
72
15
57
0
151
135
25
110
239
80
16
64
2,902
368
594
742
1,197
5,375
250
833
1,235
732
2,325
8,910
2,034
1,483
5,393
106
3,239
378
645
888
1,328
5,860
270
865
1,399
781
2,544
10, 086
2,292
1,854
5,940
114
101
105
118
10
56
35
162
25
26
27
10
74
574
185
235
154
3
12
53
40
182
27
27
31
12
85
592
199
227
165
3
1,753
1,933
2,167
49
5,992
1,063
4,930
5,955
902
5,053
6,117
902
5,215
174
48
125
8,133
8,655
9,332
254
4,877
5,301
91
1,745
2,238
49
1964
1965
1966
1964
1965
4,921
5,350
5,738
1,357
1,433
1,507
56,570
3,199
62
10
3,772
53
13
1,008
9
22
1,068
9
28
1,125
9
30
209
935
701
234
614
132
41
92
3,492
57
12
0
0
12
251
1,015
763
252
669
144
43
101
12
265
1,109
836
273
717
156
47
109
1
21
116
47
27
20
144
36
10
26
1
27
104
49
28
21
153
37
11
26
37,908
512
242
0
164
1
29
77
2,675
84
51 10, 144
7,222
30
2,922
22
6,585
161
1,846
37
11
459
1,387
26
497
106
101
145
144
650
32
104
134
28
352
1,515
404
299
812
17
308
77
73
52
105
314
22
57
51
14
170
606
156
36
414
7
337
85
82
56
113
340
24
61
57
16
183
659
164
34
461
8
359
85
90
63
120
371
26
65
62
18
201
721
178
34
509
9
82
19
13
16
34
360
89
21
94
119
36
191
53
36
102
1
87
21
12
17
37
395
102
22
101
130
41
204
57
36
111
1
89
21
14
15
39
439
119
23
117
141
39
223
63
36
123
1
2,710
358
556
687
1,110
4,941
240
798
1,147
644
2,112
8,157
1,860
1,421
4,875
98
342
167
187
207
35
39
42
114
4
110
104
5
99
110
8
102
168
184
195
8,087
8,626
9,797
5,357
74
13
6,641
69
15
0
303
1,554
1,072
482
944
234
60
174
5,734
63
14
0
1
13
370
1,645
1,160
485
1,018
248
64
185
419
96
83
117
122
511
27
92
81
25
285
1,294
344
269
681
14
445
102
90
122
130
572
29
97
110
26
310
1,344
352
260
732
16
256
288
14
468
2,014
1,501
513
1,120
276
71
205
1964
0
010
(1
\
924
186
738
984
218
766
1,097
305
791
630
105
525
689
138
551
730
161
569
1,083
1,130
1,243
651
685
731
Transfer payments _ _ _
661
697
750
392
424
470
65
75
84
4,402
Less: personal contributions for social insurance-
194
208
275
120
128
171
33
36
48
1,619
NOTE.—Detail may not add because of rounding.
1. Less than $500,000.
2. For New Mexico, business, auto repair, and other repair services are combined with
professional, social, and related services.
36
1966
Table 62A.—
Alaska
1966
1966
1966
Table 62.—
Hawaii
Table 61.—
California
Table 60.—
Nevada
1965
1965
11
37
57
Table 59.—
Oregon
1964
0
136
123
Table 57.—Far West
1964
1965
Other labor income
Transfer payments
Table 56.— Utah
Table 55.— Colorado
1964
1965
2,230
791
853
907
1,646
62
0
665
1
12
2
8
2
66
33
12
20
62
14
6
8
715
1
13
3
8
2
75
37
14
23
71
16
6
10
761
1
17
3
12
2
76
38
16
22
79
18
7
10
14
60
45
200
32
28
35
11
94
657
224
225
208
4
59
2
8
22
27
49
5
7
12
1
25
363
139
140
84
6
63
2
10
22
29
55
6
7
13
2
27
379
140
141
97
5
65
2
8
24
31
59
7
7
14
2
29
405
143
154
108
6
54
62
20
23
25
178
48
130
189
55
134
50
1
49
53
1
52
54
1
53
265
287
47
52
55
102
117
32
34
39
53
71
22
23
27
Source: U.S. Department of Commerce, Office of Business Economics.
1966
Table 63.—Broad Industrial Sources of Personal Income, by States and Regions, 1966
Table 70.—Industrial Sources of Civilian Income Received by Persons for Participation in Current Production, by States and Regions,
1966 i
[Millions of dollars]
Table 70
Table 63
Total
personal
income
State and region
United States
New England
*
Miaine
New Hampshire
Vermont
Massachusetts.- -..
Rhode Island
Connecticut
Government
income
2
Farm disbursements
income *
FedState
eral
and
local
Private
nonfarm
income 3
Total
Contract
Farms Mining construction
Manufacturing
Wholesale and
retail
trade
TransporFinance, tation,
cominsurance,
municaand real tions, and
estate
public
utilities
Services
Government 2
Other
580,483
18,402
67,393
48, 623
446, 065
458,372
18,812
5,097
28,688
141,483
78, 966
23,305
33, 068
64,622
62, 916
1,415
36,415
342
3,723
2,699
29, 652
28, 543
350
30
1,750
10, 866
4,603
1,613
1,609
4,319
3,285
117
2,422
1,901
1,066
114
18
56
361
239
114
203
133
90
1,743
1,511
807
1,835
1,492
839
117
18
57
2
3
7
117
103
57
631
587
268
299
237
123
67
69
35
110
76
51
218
204
134
260
190
106
14
4
2
17, 675
2,730
10, 621
75
8
71
1,853
429
726
1,386
201
685
14, 361
2,091
9,139
13, 846
2,062
8,469
77
8
73
10
2
8
820
131
521
4,777
797
3,806
2,390
343
1,212
835
104
502
848
114
410
2,346
271
1,144
1,684
282
764
59
10
28
138,436
1,022
14,845
11,452
111,116
109, 183
1,048
469
6, 057
35,295
18,515
6,706
8,554
17,110
15, 161
268
New York
New Jersey
Pennsylvania
63, 669
23, 767
34, 434
436
122
326
5,253
2,135
3,579
6,219
1,561
2,463
51, 761
19, 948
28, 066
49, 304
19, 375
27, 677
447
126
334
89
37
321
2,397
1,215
1,583
13, 954
7,472
11,120
8,879
3,253
4,364
3,943
986
1,167
4,110
1,542
2,027
8,751
2,722
3,552
6,615
1,967
3,162
118
55
47
Delaware
Maryland
District of Columbia
1,811
11, 573
3,182
34
104
167
2,370
1,342
124
909
177
1,486
8,191
1,663
1,327
9,320
2,182
35
106
1
21
()
99
682
80
574
2,093
81
179
1,589
251
50
468
92
72
680
123
168
1,422
495
144
2,234
1,039
4
26
19
10, 124
9,224
102,584
102, 735
3,197
579
6,166
42,220
16, 707
4,189
6,619
12, 139
10,721
197
3,441
4,051
1,925
766
968
481
1,198
1,688
796
2,620
3,011
1,238
2,477
2,674
1,318
41
50
21
Mideast
Great Lakes
-
3
125,063
3,131
Michigan
Ohio
Indiana. _
27, 685
31, 670
15,230
390
583
578
2,009
2,782
1,244
2,313
2,146
1,115
22, 972
26, 159
12, 293
22, 958
26, 078
12,787
399
596
590
112
159
65
1,331
1,551
811
10, 573
11,331
5,543
Illinois
Wisconsin
38, 089
12, 390
944
635
3,082
1,007
2, 581
1,069
31, 482
9,679
30, 863
10, 049
965
648
219
23
1,840
632
10, 941
3,833
5,678
1,612
1,593
381
2,362
575
4,128
1,143
3,076
1,177
61
25
45,355
4,460
5,002
3,661
32, 232
35,516
4,550
338
2,179
8,410
6,539
1,671
2,772
4,492
4,443
123
10, 373
8,258
12, 856
696
1,288
580
919
771
1,523
922
635
930
7,837
5,564
9,823
8,388
6, 554
10, 038
710
1,314
592
123
25
57
573
375
622
2,123
1,561
2,907
1,594
1,119
1,908
410
269
512
644
391
883
1,159
734
1,325
1,033
733
1,206
20
32
26
North Dakota
South Dakota
Nebraska. . .__ _
1,533
1,643
4,181
301
365
669
242
244
510
153
152
313
836
882
2,688
1,139
1,241
3,177
307
372
683
13
16
13
75
56
186
54
91
479
229
227
579
44
46
171
84
70
259
139
151
391
191
205
401
3
6
15
Kansas
6,511
560
792
556
4,602
4,979
572
90
291
1,195
884
219
441
593
674
2
11,586
289
Plains
.
Minnesota
Iowa... _ -Missouri
- ._
. .
Southeast
97,524
4,466
15,253
8,154
69, 651
75,481
4,563
1,343
5,271
20, 425
13, 080
3,438
5,447
10,037
11, 641
3,937
7,143
212
29
438
2,944
510
1,092
861
370
563
7,625
3,028
5,050
8,905
3,080
5,537
218
30
446
85
357
176
624
190
399
2,007
939
1,566
1,449
440
925
410
90
209
673
296
417
1,206
340
665
2,210
396
722
23
3
12
Tennessee _ _ _ _ _ .
North Carolina
South Carolina
8,611
11,321
5,310
323
722
225
1,047
1,438
917
735
923
384
6,507
8,237
3,784
6,975
9,030
4,163
329
736
230
40
20
9
442
535
270
2,325
3,233
1,624
1,235
1,484
600
304
361
153
421
540
200
892
1,021
505
973
1,080
563
14
20
10
Georgia
Florida
Alabama. .
10, 579
15, 410
7,254
470
477
301
1,655
2,370
1,223
821
1,297
635
7,633
11, 266
5,094
8,413
11,009
5,758
480
490
307
35
67
52
473
917
365
2,433
1,808
1,747
1,590
2,302
908
422
738
226
670
880
363
1,054
2,029
752
1,213
1,696
1,020
43
83
18
Mississippi
Louisiana...
Arkansas
4,153
8,235
3,931
463
320
486
634
885
538
380
869
317
2,676
6,162
2,589
3,216
6,341
3,054
473
327
497
42
426
33
204
645
209
837
1,173
731
495
1,154
498
119
286
121
180
587
221
390
833
349
459
879
378
18
30
16
39,886
1,976
5,815
3,422
28,672
30, 361
2,022
1,584
2,051
5,801
5,759
1,620
2,357
4,298
4,769
99
6,099
27, 319
337
1,337
1,036
3,759
590
2,118
4,136
20, 106
4,503
20, 864
344
1,368
340
962
248
1,448
763
4,335
814
4,096
226
1,138
358
1,635
578
2,881
818
2,934
15
68
2,390
4,078
142
161
431
589
298
416
1,519
2,912
1,853
3,140
145
166
127
154
133
222
121
583
293
556
78
179
143
220
353
486
454
562
5
11
12,622
783
1,913
1,245
8,681
9,874
800
364
721
1,546
1,822
467
867
1,374
1,879
35
6
8
3
Virginia
West Virginia
Kentucky..
Southwest-.
_.
.
Oklahoma
Texas
New Mexico
Arizona . ..
Rocky Mountain _
Montana .
Idaho
Wyoming .
Colorado
Utah
.
Far West
Washington..,
Oregon
Nevada
California
Alaska
Hawaii
1,842
1,704
874
243
204
64
277
211
125
174
147
97
1,148
1,143
587
1,428
1,355
665
248
208
66
59
28
70
101
101
58
160
222
48
245
252
107
54
53
25
139
103
74
173
181
83
243
198
132
5,700
2,502
221
51
848
452
581
247
4,051
1,752
4,383
2,043
226
52
113
95
324
137
755
360
850
368
249
86
372
179
682
255
800
506
13
5
82,045
2,106
9,848
8,433
61,658
64,337
2,161
371
4,238
16,722
11,575
3,482
4,637
10,511
10,383
258
9,797
5,738
367
210
1,330
621
896
555
7,205
4,353
7,765
4,663
375
214
17
16
566
334
2,232
1,249
1,388
913
377
214
552
404
994
607
1,224
691
39
21
1,507
65,002
17
1,513
168
7,729
129
6,854
1,194
48, 907
1,237
50, 672
17
1,555
33
304
96
3,242
58
13,183
190
9,085
52
2,838
97
3,584
503
8,406
187
8,281
3
194
907
2,230
1
115
326
544
111
221
468
1,350
683
1,660
1
118
18
(3)
84
173
43
153
90
277
23
97
74
131
75
267
253
435
20
8
Footnotes to table 63:
1. Consists of net income of farm proprietors, farm wages, and farm "other" labor income,
less personal contributions under the OASDHI program.
2. Consists of income disbursed directly to persons by the Federal and State and local
governments. Comprises wages and salaries (net of employee contributions for social insurance) , other labor income, interest and transfer payments.
3. Equals total personal income less farm income and government income disbursements.
NOTE.—Detail may not add because of rounding.
Footnotes to table 70:
1. Consists of wage and salary disbursements, other labor income, and proprietors' income.
2. Does not include earnings of military personnel.
3. Less than $500,000.
NOTE.—Detail may not add because of rounding.
Source: U.S. Department of Commerce, Office of Business Econ<lomics.
38
SURVEY OF CURRENT BUSINESS
Table 70.—Industrial Sources of Civilian Income Received by Persons for Participation in Current Production, by States and Regions,
1965 1 — Continued
[Millions of dollars]
State and region
Total
United States.
420,765
New England.
26,161
Maine
New Hampshire.
Vermont
Massachusetts .
Rhode Island.Connecticut
Mideast.
Delaware
Maryland
District of Columbia..
Great Lakes
Michigan
Ohio
Indiana
. .
Illinois
Wisconsin
_
Plains....
Minnesota
Iowa
Missouri
__
North Dakota
South Dakota
Nebraska
...
Kansas...
Southeast
Mining
17,507
340
4,894
30
Contract
construction
Wholesale
Manufac- and retail
trade
turing
Finance,
nsurance,
and real
estate
Transportation,
communications,
and public
utilities
73,500
21,858
30,797
59,874
56,860
4,298
1,513
1,515
3,981
3,003
108
47
204
187
122
232
172
94
127,696
26,453
9,730
1,641
Services
Government 2
1,719
1,339
733
131
16
44
2
2
7
119
85
50
567
522
223
280
215
113
63
64
32
12,803
1,890
7,679
73
10
1
7
775
121
491
4,350
720
3,349
2,232
320
1,139
782
98
474
800
107
382
2,154
252
1,063
1,573
255
678
458
5,670
32,535
17,422
6,266
7,999
15,962
13,721
5,997
1,782
2,746
131
2,101
964
101,305
New York
New Jersey.._
Pennsylvania-
Farms
1,023
46,033
17,936
25,425
400
117
337
84
37
317
1,167
1,402
12,981
6,890
10,145
8,467
3,020
4,094
3,671
922
1,104
3,823
1,427
1,929
8,212
2,525
3,308
1,234
8,618
2,059
43
126
1
20
95
637
82
530
1,912
76
165
1,436
240
46
434
88
68
634
119
152
1,294
470
93,981
2,885
557
5,484
38,322
15,480
3,906
6,233
11,249
9,676
20,998
23,816
11,705
317
445
609
105
154
64
1,173
1,356
729
9,726
10,258
4,997
3,210
3,799
1,763
697
915
444
1,109
1,593
751
2,450
2,789
1,141
2,173
2,456
1,188
28,342
9,120
976
539
212
22
1,676
549
9,825
3,516
5,227
1,482
1,490
359
2,235
545
3,811
1,057
2,833
1,027
32,592
4,186
328
2,056
7,427
6,066
1,574
2,618
4,176
4,048
7,623
5,928
9,355
1,200
647
116
23
55
518
319
603
1,869
1,368
2,610
1,472
1,024
1,775
385
251
482
604
369
834
1,072
681
1,237
939
664
1,088
1,135
1,136
2,875
338
316
541
13
16
13
93
60
177
47
83
428
218
214
541
42
44
163
67
248
130
143
366
171
188
385
4,541
517
285
1,022
822
206
417
547
613
4,281
12,003
3,188
5,U40
9,215
10,466
68,681
4,700
18,249
Virginia
West Virginia
Kentucky
8,276
2,883
5,048
264
39
422
81
342
165
159
347
1,844
883
1,404
1,347
407
858
381
85
196
626
280
392
1,112
328
618
2,005
357
635
Tennessee
North Carolina.
South Carolina.
6,335
8,073
3,726
319
641
216
39
17
9
377
457
223
2,043
2,856
1,449
1,124
1,346
541
285
336
141
390
491
181
823
943
459
922
968
499
7,
10,059
5,338
452
491
317
32
62
54
445
903
327
2,168
1,574
1,600
1,461
2,108
838
391
680
210
604
797
339
937
1,842
694
1,069
1,524
942
2,917
5,672
2,756
436
252
431
42
397
180
504
183
725
1,061
642
457
1,048
469
108
262
113
170
561
209
364
767
327
417
792
337
27,768
1,901
1,548
1,855
5,088
1,514
2,195
3,961
4,275
728
2,615
Georgia
Florida..
Alabama
Mississippi
Louisiana
Arkansas
_._
Southwest
Oklahoma
Texas
._
_
New Mexico
Arizona
Rocky Mountain
Montana.
Idaho
Wyoming
.
Colorado
Utah
Far West..
Washington
Oregon...
Nevada
California
Alaska
Hawaii
See footnotes for table 70 on page 37.
__.
1,269
4,169
18,977
337
1,252
330
943
241
1,282
667
3,838
3,772
211
1,058
332
1,524
539
2,630
1,751
2,871
120
192
130
144
137
195
113
470
279
516
76
137
203
339
453
415
517
9,257
778
342
718
1,406
1,729
448
816
1,283
1,705
163
170
79
228
184
125
1,322
1,322
642
202
245
56
56
24
101
108
61
150
202
47
232
238
105
52
50
24
132
93
74
4,067
1,905
222
53
102
92
315
132
349
805
350
240
83
349
168
632
239
734
434
58,892
2,000
348
4,095
14,756
10,831
3,340
4,191
9,730
9,359
6,732
4,324
281
196
461
318
1,829
1,143
1,274
857
346
201
497
380
901
1,091
1,172
46,664
14
1,510
117
3,199
55
11,728
180
8,520
52
2,741
95
3,220
456
7,807
170
7,470
646
1,482
83
149
42
14:
83
252
21
88
72
11
70
247
240
111
30
286
NOTE.—Detail may not add because of rounding.
Source: U.S. Department of Commerce, Office of Business Economics.
Other
SURVEY OF CUREENT BUSINESS
39
Table 70.—Industrial Sources of Civilian Income Received by Persons for Participation in Current Production, by States and Regions,
1964 1—Continued
[Millions of dollars]
State and region
Total
United States.
389,540
14,868
24,461
1,579
1,241
665
New England
Maine
New Hampshire.
Vermont
Massachusetts Rhode Island _ _
Connecticut
Mideast.
New York
New Jersey
Pennsylvania..
Delaware
Maryland
District of Columbia
Great Lakes
Michigan
Ohio
Indiana
Farms
.
Illinois
Wisconsin
Contract
construction
Manufacturing
Wholesale
and retail
trade
Finance,
insurance,
and real
estate
Transportation,
communications,
and public
utilities
Services
4,687
24,192
117,991
68,861
20,554
28,970
55,775
52,392
1,250
29
2
2
1,527
94
77
43
9,049
532
479
189
4,084
264
200
107
1,442
60
60
30
1,430
105
67
45
3,683
190
175
115
2,826
223
163
85
105
12
4
1
750
102
362
1,974
234
994
1,497
241
618
54
Mining
Government 2
Other
12,037
1,759
7,182
7
60
10
1
7
738
113
464
4,083
658
3,107
2,121
302
1,088
744
93
456
95,207
912
447
5,361
30,436
16,512
5,951
7,609
15,065
12,679
235
43,797
16,738
23,734
357
102
316
79
36
314
2,290
1,088
1,242
12, 276
6,395
9,426
8,101
2,838
3,863
3,510
874
1,043
3,659
1,337
1,836
7,840
2,379
3,089
5,579
1,643
2, 565
105
46
41
1,101
7,864
1,972
33
104
79
578
84
476
1,791
74
151
1,323
237
42
399
84
62
596
118
138
1,167
452
117
1,867
906
85,566
2,219
536
4,803
34,839
14,271
3,659
5,812
10,327
8,926
174
18,706
21,919
10, 448
339
377
343
150
66
948
1,188
647
8,648
9,366
4,513
2,828
3,554
1,630
634
862
417
1,011
1,506
2,190
2,582
1,053
1,976
2,288
1,074
34
48
18
26,086
8,406
703
458
200
21
1,523
498
9,056
3,257
4,882
1,376
1,406
340
2,101
507
3,519
984
2,643
944
53
29,418
2,848
310
1,860
6,936
5,728
1,485
2,479
3,909
3,753
109
Minnesota
Iowa
Missouri
6,876
5,224
8,567
394
844
444
105
21
48
456
287
540
1,709
1,263
2,444
1,388
956
1,678
235
454
565
349
781
996
628
1,165
877
611
18
28
23
North Dakota
South Dakota
Nebraska
962
982
2,579
206
189
361
11
16
13
95
61
165
41
82
412
207
208
514
39
42
154
77
64
121
138
347
163
177
362
3
6
14
Kansas
4,230
410
95
257
984
111
194
405
515
575
18
62,966
Plains
4,294
1,192
4,014
16,491
11,032
2,943
4,697
8,499
9,551
254
Virginia
West Virginia
Kentucky
7,652
2,694
4,607
345
78
318
161
538
136
308
1,700
841
1,274
1,242
380
792
349
80
182
588
264
371
1,031
304
581
1,838
330
582
20
3
11
Tennessee
North Carolina
South Carolina
5,775
7,436
3,365
293
725
211
36
15
330
382
178
1,854
2,558
1,294
1,032
1,230
494
309
127
364
449
169
759
874
429
832
876
446
12
17
8
Georgia
Florida
Alabama
6,828
9,246
4,869
396
530
295
30
57
53
374
772
1,927
1,438
1,409
1,329
1,926
783
360
632
195
551
740
319
852
1,704
624
970
1,375
39
73
15
Mississippi
Louisiana
Arkansas
2,659
5,200
2,635
439
274
480
43
363
30
144
407
157
635
980
583
419
956
447
100
240
105
160
526
197
318
710
313
385
717
310
16
26
14
25,815
1,591
1,512
1,766
4,662
5,013
1,415
2,086
3,716
3,965
89
3,853
17,578
244
1,062
317
932
232
1,176
605
3,525
728
3,525
200
985
316
1,441
525
2,444
673
2,426
13
61
New Mexico
Arizona
1,649
2,735
106
179
128
135
128
230
112
419
264
495
71
160
134
196
314
432
387
479
5
10
Rocky Mountain
8,655
582
322
676
1,383
1,647
426
782
1,216
1,590
1,224
1,148
630
173
155
50
54
23
66
90
84
70
139
184
46
220
225
104
46
22
126
92
71
153
159
75
215
172
123
3,843
1,810
167
37
96
82
300
133
657
356
763
335
230
79
330
163
602
227
393
10
5
55,489
2,022
326
3,981
14,022
10,268
3,138
3,897
9,071
8,536
228
6,254
3,951
261
15
13
384
1,719
1,052
1,195
797
325
185
465
348
824
527
1,031
573
34
18
1,119
44,166
13
1,580
25
272
129
3,199
53
11,198
174
8,102
52
2,576
425
7,294
156
6,776
3
173
592
1,371
1
112
74
130
37
135
73
233
19
77
64
224
225
342
Southeast
Southwest
Oklahoma
Texas
Montana
Idaho
Wyoming
Colorado
Utah
Far West
Washington
Oregon
Nevada
California
Alaska
Hawaii
See footnotes for table 70 on page 37.
—
NOTE.—Detail may not add because of rounding.
67
112
Source: U.S. Department of Commerce, Office of Business Economics.
SURVEY OF CURRENT BUSINESS
40
(Continued from page 31)
component in the opening quarter of
1967, and the dollar increase was exceeded only by the rise in total wage
and salary payments. Gains were widely
distributed, and in all of the regions,
they helped to bolster personal income
when the rise in GNP slowed down.
The gain of 7 percent, or $3% billion,
in transfer payments in the first quarter
of 1967 reflected three factors: a spurt
in unemployment compensation payments, continued large gains in social
security payments, and an advance payment of GI life insurance dividends. In
seven of the eight regions, the increase
in transfer payments was very close to
the national average of 7 percent. In the
Great Lakes, however, transfer payments rose more than 7% percent
because of a particularly large increase in unemployment compensation
payments.
Regional Highlights
The short sections below summarize
tbe highlights of first quarter economic
developments in each of the eight major
regions of the United States.
with a nationwide rise of well under
one-fifth.
Despite sharp drops in durable manufacturing payrolls in most of the
States in the Great Lakes region, total
personal income continued to advance
throughout the area. There were gains
of nearly 2 percent in Illinois, about
IK percent in Michigan and Indiana,
and 1 percent in Wisconsin and Ohio.
Mideast
First quarter economic developments
in the Mideast were roughly similar to
those in the Great Lakes; that is, a
decline in durable goods manufacturers'
payrolls was more than offset by gains
in other income flows. Total income in
the area rose by 2 percent, the second
strongest gain of any region. Sizable
first quarter increases occurred in nondurable manufacturing wage and salary
payments, trade, and government in
the region. Particularly large gains
were registered in Maryland (2% percent) and New York (2% percent).
In contrast, personal income was little
changed in the District of Columbia.
Great Lakes
The first quarter leveling in durable
goods payrolls had its greatest impact in
the heavily industrialized Great Lakes
region where this income component
fell nearly 2% percent, as compared
with an equal rise in the previous
quarter.
Even though durable goods manufacturing payrolls make up about 24 percent of total personal income in the
Great Lakes (as compared with 17
percent in the Nation), sizable gains
in other income shares in the region
about offset the decline in durable
goods payrolls, and total personal
income in the area advanced nearly as
rapidly in the first quarter of 1967 as
in the closing quarter of 1966. Payroll
gains were especially large in construction and trade, while wage payments
in nondurable goods manufacturing
continued to advance briskly. In addition, the 7K percent rise in transfer
payments in the region was the largest
for any of the major areas of the
country. This gain reflected, in part,
a rise of more than two-fifths in unemployment compensation, as compared
Rocky Mountains and Far West
The largest first quarter gain in personal income was scored in the Rocky
Mountain regions (up 2 percent), while
the rise in the Far West (up 1% percent)
about equaled the national average. In
both regions, the advance was widespread, geographically as well as industrially. Durable and nondurable manufacturing wage payments increased in
both regions more than the national
average. The largest personal income
advances were scored in two of the
smaller States: Income rose 4% percent
in Nevada and nearly 4 percent in Idaho.
On the other hand, income in Montana
declined a little, and in California and
Washington it increased at the national
average of \% percent.
Plains and Southwest
Although farm income continued to
fall nationally, the only regions where
the decline had a major impact were the
Plains and the Southwest. Farm income
accounted for 9 percent of total personal
August 1967
income in the Plains and for 4 percent
of the total in the Southwest, as compared with less than 3 percent for the
Nation as a whole. In both regions,
declines of about 6 percent in farm income were associated with gains of approximately \% percent in nonfarm income. As a result, total income expanded
1 percent in the Plains and about 1%
percent in the Southwest. The gains in
the two regions extended to most nonfarm industries.
Southeast
The personal income increase in the
Southeast equaled that in the Nation,
as above-average increases in some income components were offset by belowaverage gains in others. Wage payments
in soft goods manufacturing and in construction increased less than the national average in the Southeast, but
hard goods payrolls rose by a much
greater percent, and trade payrolls were
somewhat stronger. The average income
gain in the Southeast as a whole was a
composite of State gains that were
either well above the national average
or well below it. In the latter category
were Mississippi, North Carolina,
Georgia, Florida, West Virginia, and
South Carolina. The States with the
largest gains were Tennessee, Alabama,
Kentucky, Louisiana, Arkansas, and
Virginia.
New England
Personal income in New England
grew at the slowest rate (1 percent) of
any of the eight major regions in the
first quarter of 1967. Both farm and
nonfarm proprietors' income declined
more in the region than in the Nation
as a whole. Nondurable goods payrolls
went up less than the national average,
and trade payrolls remained unchanged
in New England, although they increased 2% percent or more in every
other region. The weak showing of the
New England States reflected primarily
a drop in income in Connecticut and
slow growth in Maine. Income in the
other four States of the area—Rhode
Island, Vermont, New Hampshire, and
Massachusetts—increased at a faster
pace than in the Nation as a whole.
U. S. GOVERNMENT PRINTING OFFICE : 1967 O - 269-653
CURRENT BUSINESS STATISTICS
jLHE STATISTICS here update series published in the 1965 edition of BUSINESS STATISTICS, biennial statistical supplement to the SURVEY
OF CURRENT BUSINESS. That volume (price $2.00) provides a description of each series, references to sources of earlier figures, and historical data
as follows: For all series, monthly or quarterly, 1961 through 1964 (1954-64 for major quarterly series), annually, 1939-64; for selected series,
monthly or quarterly, 1947-64 (where available). Series added or significantly revised after the 1965 BUSINESS STATISTICS went to press are indicated
by an asterisk (*) and a dagger (f), respectively; certain revisions for 1964 issued too late for inclusion in the 1965 volume appear in the monthly
SURVEY beginning with the September 1965 issue. Also, unless otherwise rioted, revised monthly data for periods not shown herein corresponding
to revised annual data are available upon request.
Statistics originating in Government agencies are not copyrighted and may be reprinted freely. Data from private sources are provided through
the courtesy of the compilers, and are subject to their copyrights.
1964
Unless otherwise stated, statistics through 1964
and descriptive notes are shown in the 1965
edition of BUSINESS STATISTICS
1965
1966
1964
II
| III
IV
I
II
1967
1966
1965
III
IV
Annual total
II
I
|
I
III | IV
II
Seasonally adjusted quarterly totals at annual rates
GENERAL BUSINESS INDICATORS—Quarterly Series
NATIONAL INCOME AND PRODUCTf
bil. $
632.4
683.9
743.3
628.0
638.9
645.1
662.7
675.4
690.0
708.4
725.9
736.7
748.8
762.1
766.3
r
do _
401.2
433.1
465.9
397.6
406.6
408.9
420.2
428.1
436.4
447.8
458.2
461.6
470.1
473.8
480.2
" 489. 7
Durable goods, total 9
___do
Automobiles and parts
do
Furniture and household equipment,- _ do_._
59.2
25.8
25.0
66.0
29.9
27.0
70.3
29.8
29.9
59.6
26.0
25.2
60.7
26.9
25.1
58.7
24.6
25.6
65.2
30.4
25.8
64.2
29.2
26.1
66.1
29.8
27.3
68.6
30.3
28.9
71.6
31.4
29.4
68.2
28.5
29.1
70.9
29.8
30.6
70.6
29.6
30.6
69.4
27.3
31.4
do _
do
do
do _
178.7
33.5
92.9
14.0
191.2
36.1
99.0
15.1
207.5
40.3
106.7
16.2
175.9
32.6
92.0
13.9
181.3
34.2
94.0
14.1
182.9
34.5
95.1
14.3
184.6
34.6
95.6
14.3
189.8
35.6
98.3
15.1
192.4
36.2
99.4
15.3
198.0
37.8
102.5
15.7
203.2
39.5
105.2
15.8
207.1
39.8
107.0
16.2
209.5
41.0
107.3
16.3
210.3
40.8
107.2
16.6
214.2
41.5
109.3
17.1
" 217. 2
-•43.2
do
-do _
do
do
163.3
24.3
59.3
11.6
175.9
25.7
63.6
12.6
188.1
27.0
67.1
13.6
162.1
24.3
58.8
11.5
164.6
24.5
59.8
11.7
167.3
24.5
60.8
11.8
170.4
24.7
61.9
12.0
174.2
25.5
63.2
12.5
177.8
26.1
64.2
12.8
181.2
26.5
65.3
13.1
183.5
26.1
66.2
13.2
186.3
26.9
66.5
13.5
189.8
27.4
67.4
13.7
192.9
27.7
68.5
14.0
196.6
27.8
69.6
14.4
- 200.0
'28.1
r
70. 6
14.6
94.0
107.4
118.0
93.4
94.2
97.9
105.1
105.1
108.2
112. 3
115.2
118.5
116.4
122.2
110.4
r
105.3
78.3
28.3
50.0
27.0
26.5
9.9
9.6
104.5
78.7
27.5
51.2
25.8
25.3
14.0
14.4
104.9
81.2
28.2
53.1
23.7
23.2
11.4
12.0
103.7
82.8
27.7
55.1
20.9
20.4
18.5
19.0
103.3
81.9
27.7
54.2
21.4
20.9
7.1
7.3
'104.6
"81.5
26.3
" 55. 2
"23.1
" 22. 5
".5
".6
Gross national product totalf
Personal consumption expenditures, total
Nondurable goods, total 9
Clothing and shoes
Food and beverages
Gasoline and oil
_ _ _ _
Services total 9
Household operation
Housing
_ Transportation
_ _
Gross private domestic investment, total
do
775. 1
r
72.5
'29.7
"31.9
' 110.
1
"17.5
105. 1
88.2
61.1
21.2
39.9
27.1
26.6
5.8
6.4
98.0
71.1
25.1
46.0
27.0
26.4
9.4
8.4
104.6
80.2
27.9
52.3
24.4
23.8
13.4
13.7
87.2
60.1
21.1
39.0
27. 1
26.6
6.1
7.0
89.4
62.4
21.4
41.0
27.0
26.5
4.8
5.6
90.2
63.4
21.8
41.6
26.8
26.3
7.7
8.1
94.4
67.3
23.1
44.1
27.2
26.6
10.6
10.1
96.3
69.3
24.7
44.6
27.0
26.5
8.8
7.9
98.8
71.9
25.1
46.8
26.9
26.4
9.4
7.9
102.4
75.7
27.3
48.3
26.8
26.2
9.9
8.7
8.5
37.1
28.6
6.9
39.1
32.2
5.1
43.0
37.9
7.8
36.1
28.3
8.7
37.5
28.8
8.5
38.3
29.8
6.1
35.1
28.9
8.2
40.7
32.6
7.4
40.3
32.9
6.1
40.5
34.4
6.1
42.0
36.0
5.4
42.5
37.1
4.6
43.7
39.0
4.3
44.0
39.7
5.3
45.3
39.9
r
5.3
"45.1
"39.8
Govt. purchases of goods and services, total, .do
Federal
.
..
do _
National defense
do
State and local
do
128.7
65.2
50.0
63.5
136.4
66.8
50. 1
69.6
154.3
77.0
60.5
77.2
129.2
66.0
50.7
63.2
129.4
65.2
49.8
64.3
129.8
64.5
48.9
65.3
131.3
64.3
48.4
66.9
133.9
65.4
49.2
68.6
138.1
67.6
50.3
70.4
142.3
69.8
52.4
72.5
146.5
72.1
55.1
74.3
151.2
74.9
58.4
76.2
157.7
79.5
63.0
78.1
161.7
81.5
65.6
80.2
170.4
87.1
70.2
83.3
"175.0
89.5
"72.5
"85.4
By major type of product:!
Final sales, total
.
Goods, total
Durable goods
Nondurable goods
Services
Structures
_
do
do
do
do
do
do
626.6
313.6
122.8
190.7
244.2
68.8
674.5
337.2
132 8
204.4
262.9
74.4
729.9
366.2
144.7
221.5
287.2
76.5
621.9
310.7
122.7
188.0
242.4
68.8
634.1
318.5
124.9
193.5
246.5
69.2
637.4
317.9
123.3
194.7
250.1
69.3
652.0
325.9
129.6
196.3
254.6
71.6
666.5
332.8
130.0
202.9
260.1
73.6
680.6
340.2
133.9
206.3
266.0
74.4
698.5
349.9
137.9
212.0
271.0
77.6
716.0
359.6
143.2
216.4
276.6
79.9
722.6
361.7
141.6
220.1
283.5
77.4
737.4
370.3
145.8
224.5
291.6
75.5
743.6
373.2
148.3
224.9
296.9
73.5
759.2
380.9
150.5
230.5
303.1
75.2
" 774. 6
391.6
156.0
235.5
307.8
75.2
do
do
do
5.8
4.2
1.6
9.4
6.7
2.7
13.4
9.9
3.5
6.1
4.5
1.6
4.8
4.2
.6
7.7
4.5
3.2
10.6
8.7
2.0
8.8
7.0
1.8
9.4
7.1
2.3
9.9
5.0
4.9
9.9
7.4
2.5
14.0
9.7
4.3
11.4
9.9
1.5
18.5
12.8
5.7
7.1
3.4
3.7
-!(5
1.1
581.1
616.7
652.6
578.6
585.8
588.5
601.5
609.7
620.7
634.4
645.4
649.3
654.8
661.1
660.7
" 664. 7
373.7
398.4
418.0
370.7
378.6
379.3
389.1
394.1
400.7
409.9
416.2
415.2
420.4
420.4
424.2
430.6
do
do
do
59.0
170.3
144.4
66.4
178.9
153.2
71.3
187.7
159.1
59.3
167.8
143.6
60.4
172.8
145.3
58.7
173.5
147.1
65.0
174.7
149.4
64.1
178.0
152.0
66.8
179.3
154.6
69.5
183.6
156.8
73.0
185.8
157.3
69.3
187.7
158.2
71.9
188.8
159.8
71.1
188.4
160.9
69.7
191.8
162.6
72.9
193.6
164.1
Gross private domestic investment, total... .do
87.8
98.0
105.6
87.3
87.6
90.8
95.9
95.9
98.3
101.6
104.0
106.5
103.6
108.4
96.9
91.3
do
do
. _ . _ . do
do
81.9
57.8
24.2
5.8
89.1
66.0
23.2
8.8
93.0
72.8
20.2
12.6
81.2
57.0
24. 3
6.1
82.8
58.9
23.9
4.8
83.2
59.7
23.5
7.6
86.6
62.9
23.7
9.3
87.9
64.5
23.4
8.0
89.6
66.7
23.0
8.7
92.4
69.7
22.6
9.2
94.5
71.8
22.8
9.5
93.1
71.7
21.4
13.4
93.0
73.6
19.4
10.6
91.2
74.2
17.0
17.2
90.2
73.0
17.3
6.7
90.9
72.6
18.3
.4
do
8.3
6.0
4.4
8.0
8.4
7.9
5.2
6.8
6.4
5.6
5.4
4.8
4.1
3.2
4.1
4.1
Fixed investment
Nonresident ial
Structures
Producers' durable equipment
Residential structures..- . _
Nonfarm
Change in business inventories...
Nonfarm
-do
do
do _
-do
do
do _
... _ .do
do
- ..-
Net exports of goods and services
Exports
Imports
do
do
do
_
Change in business inventories.. _
Durable goods
Nondurable goods. . ._
,
GNP in constant (1958) dollars
Gross national product, totalf
bil $
Personal consumption expenditures, total., -do.
Durable goods
Nondurable goods
Services
_. . .
Fixed investment
_
Nonresidential
_ _
Residential structures.. _
Change in business inventories
Net exports of goods and services
_
Govt. purchases of goods and services, total, .do
Federal
do
State and local.
_
do
111.2
114.3
111.2
124.5
112.6
58.1
57.8
57.8
64.7
59.3
53.2
56.4
53.3
53.5
59.9
r
Revised.
* Preliminary.
f Revised series. 1Estimate 3 of national iiicome i ml
product and personal income have been revised (see p. 13 IT. of the Jiilv 1967 SURVEY feldata beginning 1964; for data prior to 1963, see p. 11 f I of the July 196(3 SURVEYr); revisions
2 6 9 - 6 5 3 O - 67 - 4
138.7
135.5
129.1
126.6
122.7
119.9
117.4
110.5
112.9
115.3
111.3
74.4
72.3
67.8
66.4
63.4
61.2
59.3
56.7
56.3
57.1
58.5
64.3
63.2
61.3
60.1
59.4
58.0
58.7
53.8
55.0
55.8
56.7
those
prior o May 1966 for p ersonal i ncome a ppear on p. 21 of the Jul> 1967 Su RVEY an d; shown
9 Includes data no
for per iods pric r to 1963 on p. 18 ff . of th e July 19 66 SURV EY.
separa tely.
s-l
SUEVEY OF CURRENT BUSINESS
S-2
Unless otherwise stated, statistics through 1964
and descriptive notes are shown in the 1965
edition of BUSINESS STATISTICS
1964
1965
Annual total
III
1966
1965
1964
| 1966
August 1967
IV
I
II
IV
III
I
1967
II
III
IV
I
II
III
GENERAL BUSINESS INDICATORS— Quarterly Series— Continued
NATIONAL INCOME AND PRODUCT— Con.
Quarterly Data Seasonally Adjusted at Annual Rates
562.4
530. 4
616.7
524.2
518.1
National income, total f _ _ . . _
bil. $
393.9
375.8
365.7
435.7
369.9
Compensation of employees, total
do
342.7
359.1
333.7
394.6 337.5
Wages and salaries total
do
276.5
269.4
272.4
289.8
316.7
Private
do
12.1
14.7
11.7
11.9
11.7
Military ..
do .
54.3
57.1
52.6
63.2
53.3
Government civilian
do
34.9
41.1
32.4
33.1
32.0
Supplements to wages and salaries
do
56.7
53.3
52.3
59.3
52.6
Proprietors' incom^ total 9
do
40.2
41.9
40.6
43.2
40.6
Business and professional 9
do
12.1
14.8
12.0
12.6
Farm
do
16.1
18.0
19.0
18.4
19.4
18.1
Rental income of persons
do
Corporate profits and inventory valuation adjust74.9
66.4
66.3
82.2
67.6
ment, total
bil. $
By broad industry groups:
7.9
8.4
8.0
8.0
Financial institutions
_._do
9.3
58.4
66.5
58.5
Nonfinancial corporations, total
do
72.9
59.6
32.7
38.7
32.4
Manufacturing total
do
43.1
33.6
16.5
14.9
15.1
15.3
Nondurable goods industries
do
18.7
22.2
17.2
Durable goods industries
do
17.8
24.4
18.4
Transportation, communication, and public
10.1
11.2
10.3
utilities
bil $
11.9
10.2
15.5
16.6
15.7
All other industries
do
18.0
15.8
67.4
66.8
76.6
Corporate profits before tax total
do
68.0
83.8
31.4
28.3
28.6
34.5
Corporate profits tax liability
do
28.8
38.4
45.2
Corporate profits after tax
do
39.1
38.8
49.3
17.8
19.8
17.9
18.3
Dividends
do
21.5
20.6
25.4
Undistributed profits
do
20.5
21.2
27.8
— 5
—1 7
— 4
—1 0
Inventory valuation adjustment
do
—1 6
15.8
17.9
Net interest _ _. _ do
16.0
16.6
20.2
DISPOSITION OF PERSONAL INCOMEf
Quarterly Data Seasonally Adjusted at Annual Rates
497.5
510.5
Personal income, total
bil $
537.8
584.0
502.1
Less* Personal tax and nontax payments
do
59.4
65.6
59.0
60.9
75.2
Equals' Disposable personal income
do
438.1
472.2
508.8 443.1 449.6
411.9
Less' Personal outlays®
do
445.0
479.0 417.5 420.1
Equals; Personal saving§
do
26.2
27 ^
25.6
29.5
29.8
NEW PLANT AND EQUIPMENT
EXPENDITURES
Unadjusted quarterly or annual totals:
44.90
All industries
bil. $
11.54
12.84
51.96
60.63
Manufacturing
do
18.58
22.45
4.67
5.59
26.99
9.43
Durable goods Industries _ .
do
2.83
2.37
11.40
13.99
9.16
Nondurable goods industries.
do
2.76
2.30
11. 05
13.00
Mining . .
_
do
1.19
.33
.30
1.30
1.47
Railroad
._
do
1.41
1.9S
.37
.35
1.73
Transportation, other than rail
do._.
2.38
.59
.64
3.44
2.81
6.22
Public utilities
. .
.
do
8.41
1.76
6.94
1.71
Communication
do
4.30
1.17
4.94
5.62
1.06
Commercial and other
do
10.83
12.74
2.84
3.01
11.79
Seas. adj. qtrly. totals at annual rates:
All industries
do
45.65 47.75
Manufacturing
do
20.15
18.85
10.15
Durable goods industries
do
9.60
Nondurable goods industries
do
9.20
10.00
Mining . . .
do
1.20
1.30
Railroad
_ __
do
1.55
1.50
Transportation, other than rail
do___
2.60
2.40
Public utilities.. .
do
6.35
6.30
Communication
do
4.40
4.40
Commercial and other
do
11.40
11.00
U.S. BALANCE OF INTERNATIONAL
PAYMENTS^ 1
Quarterly Data Are Seasonally Adjusted
(Credits +; debits -)
Exports of goods and services (excl. transfers under
military grants)
mil $
9,565
37, 099 39, 147
9,371
43,039
Merchandise, adjusted, excl. military
do
6,587
25, 297 26,244 29, 168
6,370
Military sales
_..
do 747
198
844
189
847
1,322
Income on U.S. investments abroad
-__do
5,389
5,888
1,387
6, 245
Other services
do
1,458
5, 666
1,425
6,171
6,779
Imports of goods and services
do
-28, 637 -32, 203 -37, 937 -7, 208 -7,440
Merchandise adjusted excl military
do
-18,621 -21,472 -25, 510 -4, 730 -4,907
-691
Military expenditures.'
do
-694
-2,861 -2, 921 -3, 694
Income on foreign investments in the U.S__do
-362
-380
-1,455 -1,729
-2, 074
Other services
do
-5,700 -6,081 -6, 659 -1, 422 -1,462
Unilateral transfers, net (excl. military grants);
transfers to foreigners ( — )
mil $
-680
-694
-2, 782 -2, 824 -2, 925
Transactions in U.S. private assets, net; increase
(-)
mil. $.. -6,542 -3, 743 -4, 132 -1,624 -2, 104
Transactions in U.S. Govt. assets, excl. official
-579
-405
-1,674 -1,575 -1,531
Transactions in U.S. official reserve assets, net;
increase ( — )
mil $
-151
1,222
70
171
568
Transactions in foreign assets in the U.S., net (U.S.
1,724
liabilities); increase (+)
mil. $.
664
3,314
3,301
391
Liquid assets
. _.
do
1,485
448
2,629
113
789
239
Other assets
_.
do
216
2,512
685
278
-335
Unrecorded transactions
___
do
-174
-383
-949
-415
Balance on liquidity basis— increase in U.S. official
reserve assets and decrease in liquid liabilities to
all foreigners; decrease (— )
mil. $
-518 -1,334
-2,800 -1,335 -1,357
Balance on official reserve transactions basis— increase in U.S. official reserve assets and decrease in
liquid and certain nonliquid liabilities to foreign
-618
-239
official agencies; decrease (-)
mil. $. -1,548 -1,304
225
r
Revised.
v Preliminary,
i2 Estimates for Apr.-June 1967 based on anticipate d capital expendit ures of bu siness.
Estimates for July-Sept. 1967 based on anticij3ated cap ital expe nditures of bush less.
Anticinated expenditures for the year 1967 are as foil3ws (in bi .$):Alli idustries, 62.40; m mufactoring, total, 27.91; durable goods industries, 14 50; nondiarable g oods indi istries, 1 3.42;
mining, 1.56; railroad, 1.53; transportation,
3.82; pu hlic utilit ics, 9.12; commerci al and o ther
3
(incl. communication), 18.46.
Includes commui lication.
636.4 P641.9
459.1 T 463. 4
414.7 ' 418. 3
331.4 * 333. 2
16.1
16.2
67.3 ' 68. 9
44.4
45.2
57.8 '57.8
43.4
43.2
14.3
14.6
20.0
19.8
544.9
381.5
347.7
280.8
11.8
55.1
33.8
55.0
41.4
13.6
18.6
555.3
388.6
354.2
286.2
11.7
56.3
34.5
56.7
41.7
15.0
18.9
566. 5
397.2
362.0
292.1
12.1
57.8
35.2
57.2
42.0
15.2
19.1
582.8
408.4
372.4
300.0
13.1
59.4
36.0
57.8
42.5
15.3
19.2
600.3
420.8
381.3
306.9
13.6
60.7
39.5
60.0
42.8
17.1
19.2
610.4
430.7
390.2
313.8
14.2
62.2
40.5
59.3
43.3
16.0
19.3
622.1
441.2
399.6
320.1
15.1
64.3
41.6
59.2
43.3
15.9
19.4
634.1
450.2
407.4
326.1
15.8
65.6
42.7
58.6
43.4
15.1
19.6
72.6
73.4
74.9
78.7
81.1
81.3
81.9
84.6
78.1
"78.5
8.2
64.4
37.5
15.9
21.6
8.4
65.0
37.7
16.0
21.6
8.4
66.5
38.6
16.5
22.1
8.6
70.0
41.0
17.4
23.7
8.9
72.2
42.7
18.3
24.3
9.0
72.2
42.5
18.5
24.0
9.5
72.4
42.7
18.8
23.9
9.6
75.0
44.4
19.2
25.3
9.6
68.5
39.6
18.4
21.1
P9.3
p 69. 2
10.6
16.3
74.0
30.3
43.7
18.7
25.0
—1 4
17.1
10.9
16.5
75.6
30.9
44.6
19.4
25.2
—2. 1
17.6
11.2
16.7
75.8
31.1
44.8
20.2
24.6
-.9
18.2
12.0
17.0
80.8
33.1
47.7
20.9
26.8
-2.2
18.8
11.7
17.8
83.7
34.5
49.2
21.4
27.8
-2.6
19.3
12.0
17.8
83.6
34.5
49.2
21.6
27.6
-2.3
19.8
11.8
17.9
84.0
34.6
49.4
21.6
27.8
-2.2
20.4
12.0
18.6
83.9
34.6
49.3
21.2
28.2
.7
21.1
11.7
17.3
79.0
32.5
46.5
22.2
24.2
-.8
21.6
520.3
64.3
456.0
431.6
24.5
530.1
66.1
464.0
439.9
24.0
544.6
65.2
479.4
448.5
30.9
556.1
66.7
489.4
460.1
29.3
567.8
70.4
497.5
470.9
26.6
577.3
74.1
503.3
474.6
28.7
589.3
76.9
512.4
483.2
29.2
601.6
79.6
522.0
487.4
34.6
612.9
80.2
532.7
493.9
38.8
10.79
4.54
2.25
2.28
.29
.39
.58
1.32
1.08
2.59
12.81
5.47
2.76
2.70
.33
.44
.77
1.71
1.24
2.85
13.41
5.73
2.91
2.82
.32
.44
.72
1.88
1.22
3.10
14.95
6.72
3.48
3.24
.35
.46
.73
2.04
1.41
3.25
12.77
5.61
2.87
2.74
.33
.40
.75
1.60
1.26
2.83
15.29
6.78
3.51
3.27
.40
.55
1.00
2.09
1.42
3.06
15.57
6.84
3.54
3.30
.37
.48
.82
2.36
1.36
3.33
17.00
7.75
4.07
3.68
.38
.55
.86
2.36
1.58
3.52
13.59 i 15. 62 2 15. 85
7.02
6.10
6.89
3.61
3.58
3.08
3.42
3.02
3.31
.41
.32
.38
.38
.41
.40
1.01
1.09
.70
2.49
1.84
2.35
1.35
2.87 34.51 34.54
49.00
20.75
10.40
10.40
1.25
1.75
2.55
6.80
4.55
11.30
50.35
21.55
10.80
10.70
1.30
1.55
2.70
6.85
4.80
11.60
52.75
23.00
11.75
11.25
1.25
1.70
3.00
6.75
5.05
11.95
55.35
24.15
12.45
11.70
1.35
1.95
3.00
7.30
5.30
12.25
58.00
25.60
13.15
12.45
1.40
1.75
3.30
8.25
5.35
12.35
60.10
26.80
13.85
12.95
1.55
2.00
3.50
8.30
5.50
12.45
61.25
27.55
14.35
13.20
1.45
1.85
3.40
8.55
5.60
12.85
62.80
27.75
14.50
13.25
1.45
2.35
3.50
8.50
5.95
13.30
61.65 161.55 2 62. 80
28.35
27.85
27.30
14.60
14.20
14.20
13.70
13.70
13.10
1.65
1.40
1.50
1.50
1.80
1.50
4.20
3.05
3.80
9.20
9.20
9.25
5.75
12. 55 3 18.15 3 17.95
8,768
5,628
210
1,499
1,431
-7, 232
-4, 669
-671
-401
-1, 491
10,180
6,880
192
1,562
1,546
-8, 139
-5, 475
-711
-424
-1, 529
10,080
6,811
230
1,474
1,565
-8, 233
-5, 556
-754
-435
-1,488
10,119
6,925
212
1,353
1,629
-8, 599
-5, 772
-785
-469
-1, 573
10,511 10, 618
7,203
7,181
222
209
1,469
1,535
1,630
1,680
-8,997 -9, 265
-6, 025 -6, 225
-861
-911
-475
-471
-1, 636 -1,658
10,913
7,382
206
1,587
1,738
-9, 762
-6, 580
-953
-565
-1,664
10, 997
7,402
210
1,654
1,731
-9, 913
-6,680
-969
-563
-1,701
"11,317
P7,690
P338
pi, 582
p 1,707
p-9, 981
p-6, 689
p-1,041
p-531
"-1,720
-664
-775
-725
-660
-632
p-722
-851
-733
-709
-1,657
-389
-885
-812
-981
-1,135
-932
-396
-490
-244
-445
-365
-500
-328
r 619. 1
r
79.1
' 540. 0
r 504. 0
-36.0
i—
-1,084 p-1,006
-338
p-741
842
68
41
271
424
68
82
-6
*1,027
286
-24
310
53
-342
-267
-75
-113
211
416
-205
-245
236
-12
248
-110
492
227
265
-233
1,145
54
1,091
-198
459
83
376
277
1,205
425
780
-229
"312
p-483
v 795
p-206
-818
199
-457
-259
-651
-122
-419
--536
-165
P79.2
^32.6
P46.6
23.1
P23.6
r
-.7
22 1
p-513
r
-18 — 1,825 ' p-830
861
-175
-443
-916
207
239
-834
tSe e corrospending n ote on p. S-l.
91ncludes i nventor> valuatic n adjust ment.
by con01 ersonal outlays (Comprise persona consum ption ex penditur es, inter 2St paid
sunie rs, and p ersonal t ransfer p ayments to foreig iers.
lays,
sonal
out
over
per
3
income
isposabl
ving
is
e
xcess
of
c
ersonal
sa
§Pe
c?:\ lore com plete (let ails are g iven in the quar terly rev ews in t le Mar. June, S ept., and
Dec. issues of the SITRV EY; quar terly rev sions ba 3k to 196C are on p . 22 ff of t his issue
SURVEY OF CURRENT BUSINESS
August 1967
Unless otherwise stated, statistics through 1964
and descriptive notes are shown in the 1965
edition of BUSINESS STATISTICS
1965
1966
1966 v
Annual
S-3
June
July
Aug.
Sept.
1967
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July v
GENERAL BUSINESS INDICATORS—Monthly Series
PERSONAL INCOME, BY SOURCEf
Seasonally adjusted, at annual rates: t
Total personal income
bil. $
Wage and salary disbursements, total
do
Commodity-producing industries, total. do
Manufacturing
- do
Distributive industries
_
do _ . _
537.8
584.0
581.1
584.7
589.1
594.1
597.5
602.1
605.0
610.4
612 6
615 6
616 5
618 2
T g22 6
£97 1
359.1
144.5
115.6
394.6
393.9
399.8
161.2
130.0
94.8
401.9
162.2
130.8
95.0
404.8
407.6
163.2
132. 1
95.9
164.1
132.8
96.5
410.0
164.9
132.8
97.2
413.8
166.2
133.7
98.4
414.2
165.2
132 7
98.6
416.2
165.6
132 9
99.1
416.7
165,0
132 5
99 1
417.2
164.3
132 2
99 3
* 420. 9
' 165. 2
r 133 o
423. 9
166.2
i °.°. d
159.5
128.1
93.7
397.1
159.6
128.2
94.8
86.9
159.3
128.1
93.9
_. do
do
do
58.3
69.3
18.6
63.5
77.9
20.8
63.4
77.3
20.7
63.8
78.8
20.9
64.3
79.4
21.1
64.7
80.1
21.3
64.9
80.8
21.4
65.6
81.4
21.7
65.9
82.0
21 9
66.4
82.7
22.1
66 9
83 4
22 2
67.6
84.0
22 4
68 2
84 5
22 ft
68 6
85 0
22 8
r 69 5
r 85 7
23 1
Rfi 9
oo o
do_ _ _
...do
41.9
14.8
43.2
16.1
43.5
15.6
43.3
16.0
43.3
15.9
43.4
15.8
43.3
15.0
43.5
15.1
43.5
15.3
43.3
15.0
43 2
14.6
43.1
14.3
43 3
14.4
43 4
14 4
T 43 6
14 3
43 7
14 4
Rental income of persons
__do
Dividends
do
Personal interest income
do
Transfer payments do
Less personal contributions for social insurance
bil. $..
19.0
19.8
38.4
39.7
19.4
21.5
42.4
43.9
19.3
21.6
42.2
41.8
19.4
21.6
42.5
42.4
19.4
21.5
42.8
43.8
19.4
21.7
43.3
45.8
19.6
21.6
43.8
46.6
19.6
21 6
44.3
47.4
19.7
20 2
44 8
48.5
19.7
21.8
45.0
49.7
19
22
45
51
8
3
2
1
19.9
22 6
45 5
51.7
20
22
45
51
20
23
46
51
20 1
23 3
20 9
r 46 1
r 51 6
46 5
51 9
Service industries
Government _
Other labor income
Proprietors' income:
Business and professional
Farm
_
Total nonagricultural income
-
.--
0
8
8
0
r 100 4
0
1
o
5
m
e
P.Q Q
00
(1
13.4
17.9
17.5
18.3
18.4
18.4
18.6
18.7
18.8
20.0
20.0
20.1
20.1
20.1
'20.3
20.4
518.4
563.1
560.7
563.9
568.3
573 4
577 5
581.9
584 8
590 2
593 0
596 2
596 9
598 8
r 603 2
607 5
41, 547
46, 485
3,193
3 438
4 624
4 990
5 553
4 911
3 940
p3 867
977
*>3 087
P2 779
p2 772
p3 254
39, 095
17, 250
21, 845
43, 219
18, 384
24, 835
3,309
3,678
3,889
3,804
2 765
903
1 862
452
1 089
284
2,849
2,679
14, 890
4,134
1,436
1 873
464
1 071
324
5,067
2,705
4,818
1,508
2,170
465
1 312
381
4,025
12, 951
3,571
3,163
1,189
1,974
466
1,163
321
*307
824
1 855
493
1 052
271
2 739
743
1 996
510
1 169
282
3 232
1 245
1 987
497
1 178
991
121
125
118
134
134
134
118
104
128
123
125
122
pl06
j>100
p!02
65
130
P120
109
129
118
119
118
121
121
120
107
92
119
112
112
112
p93
53
122
pH3
100
122
143.4
156.3
159.3
!56. 2
' 158. 3
149.4
145.0
148.4
140.8
114.8
160.9
158.7
165.1
150.7
120.3
173.4
162.2
169.0
153.8
122.7
r 158 2
r 164 6
r 160 2
r 165 9
149
155
141
194
do
do
_-_do
do
do
142.5
140.3
159.9
134.1
147.0
155.4
147.4
166.5
141.4
172.6
_
144.2
144.3
144.1
157.1
157.4
156.9
.
- do
FARM INCOME AND MARKETINGS!
Cash receipts from farming, including Government
payments (48 States), total t
mil. $
Farm marketings and CCC loans, total
do
Crops _ - - - - - ._ _ _
--__
do
Livestock and products, total 9- ~ - - -do ___
Dairy products
._
- _ _ . -. _do
Meat animals
_ _ - do _
Poultry and eggs.
__
- -do ...
Indexes of cash receipts from marketings and CCC
loans, unadjusted:}:
All commodities . - 1957-59 = 100. .
Crops
do
Livestock and products
-do
Indexes of volume of farm marketings, unadjusted: t
All commodities
1957-59=100
Crops
do
Livestock and products
do
5,022
5,502
2,659
1,790
2 235
463
1 369
390
2 362
478
1 479
395
2,159
459
1,302
388
1,865
2 024
480
1 157
361
137
131
141
150
156
145
189
236
153
179
232
140
145
163
131
pl42
121
116
125
132
137
128
170
213
138
168
219
130
138
160
122
p!35
152
122
150.9
156.8
161. 3
163.8
160.2
157.1
156.6
152
158
144
118
1
2
4
2
158.0
160 4
155 0
123.6
163 6
169 5
156 3
122 8
167 1
173 2
159 6
124 3
163.3
170.2
154.8
121.5
159 2
168 3
147 7
122 1
157.8
150.0
172.0
142.9
174.6
150 0
139 g
142 4
139 0
172.0
154.7
146 0
132.0
150 4
173.5
161 2
153 6
165 8
149 6
177.8
164 7
157 8
184 9
149 2
179.4
160.0
151.3
176.9
143.2
178.7
160.7
162.4
159.1
151 8
152 1
151 4
158.7
158.4
159 0
161 3
162 7
159 9
163 1
163 5
162 6
1 721
2 083
489
1 228
330
P2
p
!03
79
121
842
2 007
502
1 166
73
130
72
120
94
73
110
*>98
p91
156.8
157.1
158.0
158 0
164 7
149 7
121 3
158 6
163 7
152 3
121 7
159 0
164 7
151 9
120 4
r IQO 4
157 2
145 5
168 7
138 1
182.4
156.8
145 7
159 1
141 5
180.6
156 7
145 6
156 5
142 2
180.4
157 2
146 2
159 8
141 8
180.8
T 157 Q
T 147 o
160.4
159.6
161.2
157 0
155 4
158 6
156 4
153.0
159 8
157 0
152 3
161 8
157 0
152 7
161 5
150
135
P
62
124
55
118
INDUSTRIAL PRODUCTION <?
Federal Reserve Index of Quantity Output
Unadj., total index (incl. utilities) d"-- 1957-59= 100. _
By industry groupings:
Manufacturing, total . . ._
-_do__
Durable manufactures
do
Nondurable manufactures do
Mining
_
. do
Utilities
do....
By market groupings:
Final products, total.
_
Consumer goods
.
Automotive and home goods.
Apparel and staples
Equipment, including defense
Materials
_
Durable goods materials
Nondurable materials
do
do.__
do
165 1
r 154 4
r
'•*
^
8
9
r 150 3
r 122 9
r 153 o
T 123 7
r
r 160 5
r 149 7
r 155 2
r 144 2
r 157 8
139 8
180.3
'178.9
' 180. 0
175.1
158 4
r 153 3
163 7
T 157 o
r 153 3
160 8
157 8
154 6
161 2
148 8
144
154
156 3
r 122 1
159 2
r 149 5
r 161 5
150 1
138 5
131
143.4
156.3
156.5
157 2
158.0
157 7
158 9
158.6
159 0
158 1
156 4
156 4
T i5g 3
155 5
r 155 3
do._-
145.0
158.7
158.9
159 4
160.1
160 0
161 5
161.0
161 3
160 1
158 5
158 1
T 158 2
r 157 1
r 156 6
157 5
do
do
do
do
do
do __
148.4
137.6
133 6
152.2
147.8
145.4
165.1
142.7
136.2
166.5
162. 8
158.8
165.4
148.0
142.1
166.2
161.8
158.8
166.1
148.6
143 3
162.4
162.1
157 7
167.1
148.7
142 2
162.1
161.4
158.8
167.3
146.4
139 0
164.7
163.0
158.6
169.1
145.0
137 5
168 2
164.2
159 0
167.3
138.4
132 4
161.7
164.7
160.2
167.6
136.2
130 1
163.5
168.7
161 4
165.5
131.9
124 9
163.2
166.6
160 7
163.2
131.9
124 8
167 2
165.0
160 9
162.9
129.2
123 7
162 1
162.9
160 1
' 162. 8 r 162. 5
T
129. 1
129.0
122 7 r 199 Q
'161.7
163. 2
128
i >>i
Machinery
do...
Nonelectrical machinery
_ do
Electrical machinery
do
Transportation equipment 9
do
Motor vehicles and parts... - ._ do
Aircraft and other equipment
do. _.
160.5
160.4
160.6
149.2
175.2
125.3
183.8
181.9
186.5
168.3
171.3
165. 2
182.8
180.3
186.0
167.1
169.4
164.7
186 6
184 7
189.1
166.0
161 2
169.6
189.6
186.7
193.4
166.0
158.1
172.5
188.8
188.6
189.2
168.3
164.6
171.1
191 1
189 9
192.6
174.6
175 7
173 7
189.0
188 2
190.1
172.9
170.7
174.6
189 5
190 4
188.3
171.5
169 0
173 7
189 2
190 7
187.2
164.6
151 5
176.0
186 4
183 8
187 3
185 2
182.0
185.3
159.4 . 164.5
140 6
148 0
175 6
178 8
r 181 8
r 183 4
Instruments and related products
Clay, glass, and stone products
Lumber and products
Furniture and fixtures .
Miscellaneous manufactures
..
151.4
133.5
117.4
157.4
146.0
176.5
140.7
119.3
171.9
157.9
176.5
141.0
122.9
174.6
159.3
177.0
138.5
119.9
169 7
157.2
177.4
140.5
111.3
175.3
158.7
179.5
141.2
110.0
173.2
158.4
181.8
137 8
111.3
173 2
157 2
181.4
136.5
109.5
173.9
158.5
184.6
136 9
112.8
174 0
160 9
186.2
137.2
115.7
172 1
160 3
183.4
136 9
116.9
170 6
157 1
185.8
134 9
120.2
166 5
158 2
185. 2
T 136 o
r
121.5
166 5
159 '>
Nondurable manufactures
do
140.8
150.7
150.7
151.3
151.3
144.0
142 1
Textile mill products .
do
134.9
142.3
143 4
145.1
Apparel products
_ _ .. _ _ do
152.0
150.3
149 7
147.7
114.2
Leather and products
do
108.2
110.4
111.1
111.9
154.1
Paper and products
do
152.1
142.3
156.2
153.1
'Revised, p Preliminary. fSee corresponding note on p. S-l. t Revised series. Dollar
figures and indexes of cash receipts and volume of marketings revised beginning 1963; data
for 1963 and Jan. 1964-May 1966 appear in the Dept. of Agriculture publications, Farm In-
150.9
141.7
148.4
109.9
151.2
151.9
142 4
148 1
113.9
153.3
153.1
141.8
149.3
110.8
153.7
153.5
141 4
150 5
111.1
152.6
153.3
139 3
150.2
107.7
154.0
152.4
136 7
146 4
103.7
152.4
152.0
136 2
143 6
100.5
152.4
* 152. 4
Seas, adj., total index (incl. utilities) d*
By industry groupings:
Manufacturing, total
Durable manufactures 9
Primary metals
Iron and steel
Nonferrous metals and products
Fabricated metal products
Structural metal parts
.-do
do
do
do
do
do
r 161 4
160. 2
158 1
r 179. 7
167.7
153 8
179 g
r 155 o
r
160. 7
161
15(>
177 9
181 3
173.4
170.5
157 7
181 8
18'*
183
179
172
160
183
184.1
133 4
116.5
166 3
T 156 7
185
134
r 156 4
r 180 5
r 181 6
r
178. 9
* 169. 1
r 155 9
T i8i 4
T
185. 3
T 134 9
T
117.4
166 5
r 158 1
' 150. 2
r 134 6
141 9
141 8
T
107. 1
105.0
' 150. 7 ' 150. 1
r 135 1
128. 2
120 5
155 fi
160.3
156 9
r
r
150. 2
134 5
164
155
150.4
150. 0
come Situation, July 1966 and July 1967. 9 Includes data for items not shown separately,
cf Revised beginning Jan. 1964 to incorporate new data and to reflect use of new seasonal
factors; revisions for months prior to Sept. 1965 will be shown later.
SUEVEY OF CURRENT BUSINESS
S-4
Unless otherwise stated, statistics through 1964
and descriptive notes are shown in the 1965
edition of BUSINESS STATISTICS
1965
1967
1966
1966 P
Annual
August 1967
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July p
GENERAL BUSINESS INDICATORS—Continued
1
INDUSTRIAL PRODUCTION^ — Continued
Federal Reserve Index of Quantity Output— Con.
Seasonally adjusted indexesd"— Continued
By industry groupings— Continued
Nondurable manufactures— Continued
Printing and publishing
1957-59=100__
Newspapers
.
do
Chemicals and products
do
Industrial chemicals
do
Petroleum products
do
Rubber and plastics products
Foods and beverages
Food manufactures
.
Beverages
Tobacco products
do
do
do
do
do
193 5
142.2
134. 2
193 0
220 1
128.4
-I QA 1
123.7
1" 3
130 0
190 3
191 9
128.4
126.6
137 8
119 8
199 0
]90 7
130.3
194 9
144.1
135 4
1 09 7
144.8
136 3
194 5
145.3
137 7
194 4
91 Q Q
999 0
999 2
J97 7
196 9
128 5
144.3
139 1
193 5
220 5
130 6
144.1
135.7
196 9
224. 1
131.2
144.7
135. 2
199 4
227 5
129.1
143.7
133.2
198 7
228 8
129.0
145.5
133.7
198.6
228.5
128.7
146.1
134 8
200 5
230 8
127 4
146.8
130.9
199 3
227 9
130.1
202 0
129.7
127.6
141 1
117.2
201 6
132.0
130.3
141.0
119.3
198.8
131.9
130.4
140.2
118.5
196 3
131.3
129.5
141 1
120 2
191 5
131.7
129.7
142 3
116.2
188 7
128.1
126 4
137 2
116 5
190 3
129.2
127 0
141 1
119 9
193 6
128.5
127 0
136 4
120 5
199.2
127.5
124.9
141.4
116.9
119.3
191 4
134.2
133 3
122 0
120 8
119.2
120 9
134.0
133 7
192 1
190 7
119.6
191 9
132. 1
133 8
191 0
114 7
119.6
121 3
128.6
133 5
121.6
121.5
119.5
121.1
129.4
130.3
121.0
114 0
119.3
120.8
133.0
133 4
123.0
125.2
119.0
120.8
134.2
139.3
123.0
120.7
119.3
121.0
140.3
138.7
122.4
115 7
119.6
120.0
142.1
136 6
121. 6
115.1
118.3
120.1
143.7
137 2
127.1
125 5
135 9
12° 7
148. 3 r 147. 4
133.1
133.8
' 199. 2 ' 199. 1
' 227. 2 228. 5
- 133. 1 ' 130. 1
r
130. 2
131.6
129. 5
r 131.4
7
' 130. 2
* 146. 3
128. 8
r 129. 6
141.2
117.4
121.3
120. 1
••119.2
121. 7
* 132. 9
129. 2
r
123. 8
' 122. 5
121.
2
r
123. 5
137.3
133.3
128. 3
123
129
134
T
' 183. 5
182. 0
r
Mining.
Coal
Crude oil and natural gas
Crude oil.
Metal mining
Stone and earth minerals
do
do
do
do
do
do
114 8
113 3
112.3
1119
124.2
1 9fi ^
120.3
115 2
118.0
119.4
132. 7
133 5
Utilities
Electric
Gas
do
do
do
160.9
165 6
146 9
173.4
179 7
156 1
171.7
177 9
155 7
175.7
182 4
156 9
179.0
186 5
157 6
177.0
184 2
158 5
175.2
181.7
159.1
176.9
183.9
159 5
177.7
183.4
160.0
179.6
185.7
178.2
183.7
180.6
186.7
M79.2
185.2
do
do
do. .
142.5
140 3
159 9
155.4
147 4
166.5
154.9
147 1
165.8
155.3
146 5
162 5
156.4
147 1
159 6
156.3
146 5
159.7
158.3
148.8
169.4
158.5
148 8
166.5
159. 2
149.1
164.9
158.1
147.8
157.7
156.4
145.2
153.5
156.7
146. 0
153.9
r
156. 1
155.9
>• 157. 1
' 146. 7 r 145. 7 r 146. 0
' 155. 3 r 153. 3 ' 154. 1
do
do
167.2
182 6
163.0
169 5
1 54 4
168.9
166.6
165.7
162.3
167 8
154.5
151 5
146.4
141 7
150.7
148 6
168 Q
165.0
168.0
166 0
159.3
165.9
168.5
177.8
156 2
170.0
170.2
164.4
162.8
166.7
157 8
169.1
165.3
164.7
162.6
167.3
156 4
166.5
158.4
163.5
147.0
141.3
154 4
165 2
154. 0
163.4
135.7
120.5
155 7
162.9
153.7
158.5
144.6
136. 5
155 3
160.4
147.1
157.4
151.5
149.6
154
1
r
157. 9
'141.7
157.9
r
r
T
143.3
139.8
144 2
127.3
143.7
139. 1
145.0
130.1
144.2
139.9
145. 4
130.4
143 1
135.8
145 2
129.9
143.3
135.4
145 6
129.6
143.9
r
135. 0
T 146. 5
r
129. 6
T
132.9
179.0
141 5
161 8
134 1
180.3
142 3
160 1
133 5
181.0
142 3
169 7
_ _
By market groupings:
Final products, total cf
Consumer goods
Automotive and home goods
Automotive products
Autos
Home goods 9
..
Appliances, TV, and radios
Furniture and rugs
do
do
do
Apparel and staples
do
Apparel, incl. knit goods and shoes.. do
Consumer staples
do
Processed foods
do
Beverages and tobacco
Drugs, soap, and toiletries
Consumer fuel and lighting
Equipment, including defense 9
Business equipmentIndustrial equipment
Commercial equipment
do
do
154 8
152.3
154.3
1 r0
168 3
163.9
170.1
f-
168 0
165.5
165.2
1 ro r
134 1
134.5
134 0
141 4
139.6
141 8
126.4
141 6
141.6
141 6
126.4
141 4
139.0
142 1
126 0
143 0
139.1
144 9
197 9
142 3
138.8
143 3
127.9
142.2
139.0
143.2
126.0
1 27 9
157 0
131 7
174.4
1 *}fi fi
1 cq A
131 5
174.7
130 2
174 5
134 0
175 4
131 0
176! 1
133 0
181.3
5
133.1
178.7
137 9
161 9
162 4
133 7
178.5
1399 1
16 0
172.6
181 92
172
190.0
171.4
180 0
171 0
191.0
178.8
187.2
178 4
195. 5
9
12 7
180 3
179.6
187.5
178 1
196.9
216 9
170 7
181.0
189.3
179 1
196.0
220 3
179 5
180.2
187.4
177 7
196.7
214 5
176.1
180.3
186.6
176 8
199.8
215 0
169 6
179.6
184.4
174 1
199.1
9
11 7
16° 8
199 9
do
1 4Q A.
do
do
do
do
147.0
156 7
1 qo r.
1 CJ
1
1 3ft Q
1 fil 1
i qc 7
9
16
169 1
177.4
185.7
177 0
194.' 8
209 2
178 9
1 *^8 8
1 A9 4
908 ^
Farm equipment
do
148 8
167 0
168 9
174.4
182 7
mo
189.8
9ft8 8
167 5
Materials c?1
Durable goods materials 9
Consumer durable
Equipment ._
Construction
do
do
do
do
do
144 2
144.3
166 8
151 9
133 8
157 1
157.4
170 3
180 7
141 6
158 0
159.3
165 2
179 1
142 3
158 8
159.1
162 8
183 7
141 0
159 6
160. 1
173 6
187 9
140 9
159 2
159.8
174 0
189 1
139 8
159.9
159.8
176.2
189.7
138.5
159 1
158.5
173 8
191 0
138 5
158.9
156.4
165 4
190.3
138.2
158.0
153.9
154.6
190.6
138.9
156 2
151.9
148 4
186 5
139.2
155.8
152.2
145 1
185. 6
140.4
Nondurable materials 9
Business supplies
Containers
do
do
do
144 1
136 4
136 6
156 9
148 9
145 4
1 en 7
0
3
4
2
158 6
149 9
143 2
159 1
150 1
143 4
158
150
147
152
6
7
4
4
159.9
151.6
145.3
154 8
159 9
150 9
147 2
1 ^A d.
158
150
146
152
161.4
153 0
151.1
154 0
161.7
153.4
146.5
156 8
160 5
152 1
147. 1
154 6
159.4
151 1
144. 6
154 4
127 9
115 5
159 4
136 3
122 2
•170 c
138.0
124.9
179 2
138 7
124 6
174 6
138
9
194 9
138.6
123.7
176 7
138.7
124.9
174 8
138 0
123 1
i 7e 7
139.7
125.1
177 5
140.1
124.7
179 7
139.3
123.5
179 3
139.7
123.3
181 5
1 954 ggg n n*}^ 87i
86 957
ftfi A78
86 775
87 066
ftfi AQQ
87 875
87 386
86 299
87 458
Business fuel and power 9
Mineral fuels
Nonresidential utilities
do
do
do
1 CO 1
164.4
9QC
7
•i co 9
176.4
184 4
•I rjn
0
194.1
i C9 Q
r 122. 1
125. 5
'117.2
r
119. 6
r 149.
5
130.6
T
r
148
164. 0
186. 9
r 132.
147.8
134.3
197.9
r
182 5
189.6
145. 8
149.9
140 5
158. 5
143.8
r
r 157. 2
r
140 4
181.4
143 6
161 4
r
T
143.3
132. 2
146. 4
129. 7
151.3
150. 0
145 1
150. 1
137. 5
158. 1
150. 7
140. 3
150
154
161
147.0 "147"
129. 7
133. 2
181.4
149 5
166 3
182. 0
141 4
179.4 T 178. 4 M77.3
183.8 'r 182. 0 180. 2
169 1
167 3
173 0
200.5
200. 7 rr 200. 8
211 7
910 4
208 9
166.3
160. 4
179.1
182
155.8 'r 155. 0 154.9
151.3 r 150. 5 ' 149. 8
151. 0
149. 7
143.0
183.2 ' 180. 9 179.6
' 139. 2 ' 137. 2 136. 0
156. 2
151
r
r
160. 4
152. 6
r 148.
r
r
5
r 154 (j
T
159. 6
149. 6
145. 0
151 9
M41.4 ' 141.4
' 125. 5 T 125. 8
T 1§9 1
r
T
100. 1
150. 0
147.0
155 3
162
143. 1
127. 9
148
135
181 3
BUSINESS SALES AND INVENTORIES §
Mfg and trade sales (seas adj ) totaltt
mil $
9
8A QQf;
86 833
T
r
Manufacturing, total
Durable goods industries
Nondurable goods industries
do
do
do
1483 343 1528 448
252 242 276 069
231, 101 25?, 379
44 125
22, 898
21,227
44 3 7
23 031
21,296
44 9 OG
22 874
21,332
44, 091
22,971
21,120
44, 487
23, 451
21,036
44 393
23 237
21, 156
45,511
23, 715
21, 796
44, 460
23,060
21, 400
43, 932
22, 622
21,310
44, 866
23, 137
21, 729
43, 943
22, 269
21,674
Retail trade, total*...
Durable goods stores
Nondurable goods stores
do
do
do
i 283 852 1303 672
93 718
97* 812
190 134 205 860
25, 394
8,056
17 338
25 362
8 106
17 956
95 579
8 358
17 914
25, 703
8,394
17 309
25, 550
8,276
17 274
25 610
8 143
17 467
25, 368
8, 156
17 212
25, 687
8,200
17 487
25, 470
7,955
17,515
25,739
8,150
17 589
25,918
8,104
17, 814
Merchant wholesalers, totalt
Durable goods establishments
Nondurable goods establishments
do
1187,141 1 203, 751
do". I 82, 691
91, 026
do
104, 450 112, 724
17,438
7,637
9,800
16, 989
7,607
9, 382
17,217
7 ( 737
9,480
16,981
7,514
9,467
17, 029
7,574
9,455
16, 696
7,372
9,324
16, 996
7,539
9,457
17, 239
7,501
9,738
16, 897
7,488
9,409
16, 853
7,350
9,503
16, 972
7, 292
9,680
Mfg. and trade inventories, book value, end of year
or month (seas. adj.),totalj
mil. $__ 120,896
Manufacturing, total
Durable goods industries
Nondurable goods industries
Retail trade , total t
Durable goods stores
_.
Nondurable goods stores
Merchant wholesalers, totalt
Durable goods establishments
Nondurable goods establishments
do
do
do
do
do
do
do
do
do
135, 549
127,584 128,714 130,043 130,839 132, 392 133,856 135,549
77 897 71,949 72, 958 74 110
50, 037 45, 003 45, 790 46,814
27, 860 26, 946 27, 168 27, 296
36, 961 36, 325 36, 312 36, 191
16 536 16,411 16, 330 16, 079
20, 425 19, 914 19, 982 20, 112
9
20 691 19,310 19, 444 19 74
12,112 11,318 11,349 11, 577
8,
095
8,
105
7,
992
8,579
' Based on unadjusted data.
& See corresponding note
68 015
42, 324
25, 691
34, 607
15,194
19,413
18 974
10, 575
7,699
r
Revised.
v Preliminary.
on p. S-3.
9 Includes data for items not shown separately.
§The term "business" here includes only manufacturing and trade; business inventories
as shown on p. S-l cover data for all types of producers, both farm and nonfarm. Unad-
74, 884
47, 568
27, 316
36, 355
16, 241
20, 114
19, 600
11,435
8,165
75, 788
48, 352
27, 436
36,680
16,496
20, 184
19, 924
11,722
8,203
76 896
49, 310
27, 586
36, 734
16, 581
20, 153
20, 226
11,835
8,390
77, 897
50, 037
27, 860
36, 961
16, 536
20, 425
20, 691
12,112
8,579
136,590 136,780 137,093 137,351
78, 886
50, 620
28, 266
36, 924
16, 491
20, 433
20, 780
12, 140
8,640
79, 394
51, 079
28, 315
36, 644
16,315
20, 329
20, 742
12, 096
8,646
79, 708
51,216
28, 492
36, 526
16, 142
20, 384
20, 859
12, 105
8,754
80, 330
51, 593
28, 737
36, 236
16,033
20, 203
20, 785
12, 162
8, 623
87 611 88, 502
44, 945 44, 807
22, 900 23, 031
r 22, 045 21, 830
r
r
25, 87<> 20, 478
\ 187 8, 508
17,710 17, 970
r
r
r
r
16, 769 17,217
r
7, 240 7,471
* 9, 523 9, 740
137, 428130, 906
T
r
r
80, 578 80,410
51, 784 51, 803
28, 794 28, 013
36, 263 30, 087
15,90' 15, 001
20, 351 20, 420
'r 20, 587 20, 403
11,981- 11,883
r
8, 598 8. 580
justed data for manufacturing are shown on p. S-5; those for retail trade on p. S-ll.
tSee corresponding note on p. S-ll.
t Re vised series. The panel of reporters in the Census Bureau wholesale sample has been
updated to reflect information from the 1963 Census of Wholesale Trade; comparable data
prior to Sept. 1905 appear on pp. 20 ff. of the Nov. 1906 SURVEY.
SURVEY OF CURRENT BUSINESS
August 1967
Unless otherwise stated, statistics through 1964
and descriptive notes are shown in the 1965
edition oi BUSINESS STATISTICS
1965
1967
1966
1966
Annual
S-5
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June-
July
GENERAL BUSINESS INDICATORS—Continued
BUSINESS SALES AND INVENTORIES— Con.
Inventory-sales ratios:
Manufacturing and trade totalf J
ratio
Manufacturing, total
Durable goods industries
Materials and supplies. _
Work in process
Finished goods
do
do
._ _do
do
do
Nondurable goods industries
do
Materials and supplies.
do
Work in process
. _. _ __ _ _ -do._
Finished goods.
do
Retail trade, total t
Durable goods stores.
Nondurable goods stores
.
_
do
do
do
Merchant wholesalers total!
do
Durable goods establishments... _ __do _
Nondurable goods establishments
do
MANUFACTURERS' SALES, INVENTORIES,
AND ORDERS
Manufacturers' export sales:
Durable goods industries (unadj.), total.. -mil. $..
Shipments (not seas adj ) total
Durable goods industries, total?
Stone clay and glass products
Primary metals.. _ _
__
Blast furnaces, steel mills
Fabricated metal products
Machinery, except electrical
Electrical machinery
Transportation equipment
Motor vehicles and parts
Instruments and related products
1.48
1 47
1 48
1 49
1 51
1 52
1 54
1 54
1.56
1.58
1.57
1.58
1.57
1.55
1 61
1 91
.59
80
5?
1.64
1.98
.59
.87
52
1 63
1 97
.59
86
52
1.65
1 99
.59
.88
52
1 68
9
05
.61
.90
53
1.70
2 07
.62
.91
54
1.70
2 06
62
.91
53
1.73
2 12
1.71
2.11
1.81
2.26
1.78
2.21
1.83
2.32
'1.79
'2.26
1.79
2.25
.63
.94
55
.62
.94
.55
1.77
2 20
.65
.98
57
.64
.66
1.02
1.00
.60
1.03
'.59
1.03
.58
1.05
.59
1.29
.50
.19
.60
1.28
.49
.19
.59
1 27
.50
.19
.58
1.28
.49
.19
.59
1 28
.50
.19
59
1.29
.50
.20
.60
1 30
.50
.20
60
1.30
1.28
1.33
1.33
1.31
1.31
.49
.20
.60
.50
.20
.62
.50
.20
.63
1.31
.48
.20
.60
1.32
.49
.20
.63
.49
.20
.62
.49
.20
.61
1.40
1.86
1.17
1.42
1.97
1.16
1.43
2.04
1. 15
1.43
2.01
1.16
1.42
1.92
1.17
1.41
1.93
1. 16
1.44
1 99
1 17
1.43
2.04
1.15
1.46
2.03
1.19
1.44
2.01
1.17
1.44
2.05
1.16
1.42
1.98
1.16
1.40
1.98
1.13
1.40
1.94
'1.15
1.36
1.84
1.14
1 14
1.49
.87
1 14
1.49
.85
1 11
1.48
.82
1 14
1.49
.86
1 15
1.50
.86
1 15
1.52
.86
1 17
1 55
.87
1 ''I
1.61
.90
1 22
1.61
.91
1 21
1.62
.89
1.23
1.62
.92
1.24
1.65
.92
1.22
1.67
.89
1.23
' 1.65
.90
1.19
1.59
.88
9,941
11,437
956
839
881
990
1, 003
1,016
1,114
963
1,016
1,201
1,053
' 1, 123
1,107
41, 626
44,808
46, 033
45, 256
45, 136
46, 973
21, 395
23,062
864
3,748
1,876
2,121
23, 946
23, 342
3,681
1,892
2,116
23, 528
'998
' 3, 613
1,877
' 2, 168
24, 756
1,048
3,719
1,885
2, 285
3,626
3,419
6,086
3,653
806
3,752
3,500
6, 505
3,888
851
3,733
3,177
6,401
3,915
829
' 3, 647
' 3, 196
' 6, 609
' 4, 085
'865
3, 872
3, 532
6,877
4,175
22, 087
7,571
22, 217
7,812
1,752
1,928
3, 457
1,739
1,138
21,914 '21,608
7,466 ' 7, 629
'411
425
1,743 '1,766
'1,846
1,839
3,648 ' 3, 503
1,759 '1,746
1,133 '1,136
do
483 343
528 448
46 244
40 412
43 109
46 170
46 3 6
44711
do
do
do
do
do
252, 242
11 753
41,910
22, 916
24, 292
276 069
11 929
45, 651
23 707
26 024
24, 652 20, 599
990
1 114
3,507
4,066
1,881
2, 104
2,006
2,332
21, 432
1 074
3,790
2,007
2,263
23, 753
1 075
3,954
2,067
2,341
24 158
1 075
3. 851
I ggi
9 9
32
23,425
959
3,731
1,901
2,142
22, 982
do
do
do
do
do
36. 490
33, 593
68 039
45 412
8,347
3 465
3 641
6 537
4 950
874
3,270
3, 540
6 9585
4 50
'880
3,449
3.449
6, 477
4 017
917
3,169
3,149
5, 822
3 713
231, 101
80, 678
4,864
19,318
19, 385
36, 030
19, 178
11,653
877
3,575
1,772
2,094
835
3,632
1,889
1,918
.66
.49
.20
.62
928
3,732
1,923
2,187
3,162
3,315
4 437
2 179
817
3,406
3,668
5 857
3 574
892
25? 379
87 761
5 104
20 407
21,770
38 676
°0 5179
12 75
21, 592
7,508
465
1,789
1,929
3,401
1,748
1,127
19, 813
7,031
432
1, 462
1,699
2,980
1,709
971
21,677
7,411
447
1,791
1,926
3,187
1,743
1,042
22,417
7,787
440
1,845
1,927
3,375
1,743
1,078
99
168
7 546
418
1 847
1.908
3,313
1 794
1.109
21,286
7, 354
433
1,777
1, 860
3,077
1,733
1,008
20, 519
7,348
20, 231
7,085
417
384
1, 628
1,782
2, 933
1,753
1,039
1,587
1,787
3,148
1,704
1,009
21,746
7,490
398
1,725
1,891
3,342
1,745
1,086
44, 125
44, 327
44,206
44, 091
44 487
44,393
45,511
44, 460
43,932
44, 866
43, 943 '44,945
44, 867
22, 898
979
3,840
2.012
2,144
23, 031 22, 874
940
951
4,045 3,922
2,210
2,036
2, 142
2,130
22,971
980
3,919
2,039
2,201
23. 451
971
3,839
1.996
2, 098
23,237
979
3,812
1,983
2,180
23,715
1 068
3,893
1, 982
2,267
23, 060
1 061
3,758
1,920
2,135
22,622
1,013
3,618
1,802
2,214
23, 137
1,020
3,517
1,787
2,272
22, 269 ' 22, 900
'914
927
3,439 ' 3, 434
1,791
1,742
2,080 ' 2, 092
23, 031
921
3,464
1,755
2,100
' 3, 455
' 3, 323
' 6, 380
'3,875
'876
3,519
3,360
6, 452
3,894
21,674 '22,045
7,549 ' 7, 728
'400
438
1,726 '1,830
'1,851
1,808
3,388 '3,331
1,792 '1,797
1,087 ' 1, 124
21,836
7,630
448
1,747
1,852
3, 362
1,828
1,087
740
408
3,321
3.230
6.114
3.908
813
3,363
3,496
5, 742
3,405
844
3,364
3,377
5,915
3,550
851
3,422
3,413
5,845
3,569
833
3,559
3,445
6,389
4. 033
847
3, 468
3,386
6,226
3, S53
856
3, 583
3,389
6,268
3,899
845
3,492
3,463
5,881
3.568
834
3,485
3,336
5,686
3,385
805
3,489
3,435
6,061
3,529
845
Nondurable goods industries, total 9 . do
Food and kindred products
._
.do
Tobacco products
do
Textile mill products
do
Paper and allied products..- _ ... _ _ _ d o _
Chemicals and allied products
. do
Petroleum and coal products
do
Rubber and plastics products..
__do._.
21, 227
7,334
435
1,704
1,839
3,260
1,734
1,050
21,296
7,274
417
1,717
1,875
3,237
1,733
1,080
21,332
7,476
425
1,725
1,878
3,203
1,718
1,064
21,120
7,360
430
1,688
1,843
3,170
1, 728
1,043
21. 036
7,220
418
1,704
1,841
3, 219
21,796
7, 672
426
1,752
1,903
3,286
1,719
1,111
21,400
7,381
424
1,751
1,880
3,297
1, 688
1,079
21,310
7, 370
420
1,674
1,856
3,325
1,722
1,075
21, 729
7,562
1,781
1,029
21,156
7, 334
416
1,734
1,878
3,191
1,739
1,036
49 609
110 451
2 67, 889
2 52 045
2 38 977
2
209, 477
4,189
9,195
5,605
4,373
3,250
17, 513
4,227
9,199
5,793
3,857
3,181
18, 070
4,146
9,373
5,731
4,031
3,165
17,760
4,162
9,337
5,753
4,054
3,205
17, 580
4,162
9,138
5,943
4, 494
3, 086
17,664
4, 196
9,263
5, 797
4,355
3,146
17,636
4,226
9,597
5,946
4,399
3.211
18, 132
4, 185
9,344
5, 718
4,052
3,264
17, 897
4,128
9,346
5, 703
3,844
3,253
17,658
4,247
9,532
6,000
4,004
3,297
17, 786
2 21 212
33, 240
53 220
1,735
2. 730
4,375
1,803
2,894
4,553
1,760
2,849
4,510
1,760
2,822
4,559
1,788
2,888
4,648
1,803
2,S64
4,546
1,822
2,909
4,589
1,810
2,876
4,615
1,777
2,897
4,562
1,863
3,135
4,630
Book value (seasonally adjusted), total.
By industry group:
Durable goods industries, total 9
Stone, clay, and glass products
Primary metals
Blast furnaces, steel mills.
Fabricated metal products
2
2
2
2
428
1,726
1,878
3,378
1,789
1,106
3,453
3,222
5,912
3,557
836
1,719
2,988
4,524
77. 392
49 432
27, 960
72, 380
45, 444
26, 936
72, 684
45, 634
27, 050
73,770
46,680
27,090
74,417
47,319
27, 098
75, 297
47, 993
27, 304
76,383
48,764
27,619
77,392
49, 432
27, 960
78, 881
50, 433
28, 448
79,817
51,274
28,543
80. 162
51, 580
28, 582
80,817 '81,267
52, 107 '52,558
28, 710 '28,709
80,931
52, 339
28, 592
do
68, 015
77 897
71, 949
72, 958
74, 110
74, 884
75, 788
76,896
77, 897
78, 886
79,394
79, 708
80, 330 '80,578
80, 416
45,003
1,697
6,770
3,917
4,782
45, 790
1, 692
6, 787
3,911
4,837
46,814
1,698
6,902
3,966
4,916
47, 568
1,675
6,908
3,993
5,048
48, 352
1,703
6,971
4, 048
5, 109
49,310
1,722
7, 057
4, 077
5, 214
50, 037
1,746
7,109
4,043
5,314
50, 620
1,772
7,140
4,088
5, 272
51,079
1,787
7,174
4,137
5,295
51,216
1,794
7,213
4,128
5,273
51,593
1,819
7,338
4,204
5,269
Machinery, except electrical
do
Electrical machinery
do
Transportation equipment
do
Motor vehicles and parts
do
Instruments and related products _ do. __
8,508
6, 093
8,930
3,318
1,788
9,942
7 653
11 369
3,538
2.214
8,958
6,688
9,634
3,233
1,987
9,097
6, 841
10,006
3,394
2, 023
9,329
6,998
10,399
3,537
2,062
9,536
7, 205
10,557
3,489
2,106
9. 665
7,383
1 0. 780
3,518
2, 150
9 852
7. 580
11.091
3, 553
2,174
9,942
7,653
11.369
3,538
2, 214
10, 029
7,799
11,717
3,608
2, 211
10,117
7,857
11,921
3,640
2 222
10, 152
7,825
12, 004
3,533
2,251
10, 173 '10,234
7,783 ' 7, 755
12, 164 '12,184
3,454 ' 3, 398
2,290 ' 2, 303
2
876
67, 620
41, 831
25, 789
50, 037
1,746
7 109
4,043
5,314
Based on data not seasonally adjusted.
9 Includes data for items not shown separately.
tSee corresponding note on p. S-4.
15,000
479
do._.
do
do._.
42, 324
1,626
6,349
3,678
4,856
i 3, 100
1,835
1,943
3,497
1,839
1,166
' 1, 763 1,807
3,129
' 3, 162
4,654
' 4, 538
'51,784
'1,842
'7,451
' 4, 243
' 5, 229
i 2C, 300
927
4,078 ' 4, 222 4,152
9,626
9,555 '9,684
6,013
5,816 '5,925
4, 350
4,005 ' 4, 324
3,016
3,039 ' 3, 023
17,450 '17,767 17,710
do...
do...
do
.do._
do...
r
Revised.
i Advance estimate.
tSee corresponding note on p. S-ll.
.59
3, 075
3,065
4, 925
2 790
752
Machinery, except electrical
_ _ do
Electrical machinery.
do
Transportation equipment
do
Motor vehicles and parts... _
_ _ do
Instruments and related products
do
Inventories, end of year or month:
Book value (unadjusted), total
Durable goods industries, total
Nondurable goods industries, total
.63
3.641
3,396
6 610
4 277
861
do
do
do
do. do
By market category:
2 44, 909
Home goods and apparel.
do
Consumer staples .
do
2 101, 305
Equipment and defense prod., excl. auto.do-__ 2 60, 300
2 50, 403
Automotive equipment
do
2 37, 543
Construction materials and supplies ... do
2 188, 883
O ther materials and supplies
do
Supplementary market categories:
2 19, 283
Consumer durables
.
do
Defense products
do.-. 2 27, 965
2 47, 115
Machinery and equipment...
do
959
.64
204
859
460
470
806
40
39
73
46
9
do
. -
9
43, 501
Nondurable goods industries, total 9
do
Food and kindred products
do
Tobacco products
do
Textile mill products
do
Taper and allied products
do
Chemicals and allied products ._ _ . - - do_
Petroleum and coal products
do
Rubber and plastics products. .
do
Shipments (seas, adj.), total
By industry group:
Durable goods industries, total 9
Stone clay and glass products
Primary metals.. .
Blast furnaces, steel mills
Fabricated metal products
1 46
51,803
1,850
7,482
4,246
5, 144
10,273
7,691
12, 241
3,333
2,299
i 23,200
i 3, 600
i 6,300
SUKVEY OF CUREENT BUSINESS
S-6
Unless otherwise stated, statistics through 1964
and descriptive notes are shown in the 1965
edition of BUSINESS STATISTICS
1965
1966
1966
Annual
August 1967
June
July
Aug.
Sept.
1967
Oct.
Nov.
Dec.
Feb.
Mar.
Apr.
14 880
2 640
4,937
2 499
22 643
2 455
7,911
7 852
13 097
2 045
4 980
1 366
14, 856
2,638
4,910
2,519
22, 967
2,489
7,949
8,028
13, 256
2,047
5,115
1,374
14, 748
2,642
4,859
2,425
23, 140
2,470
7,981
8,220
13,328
2,101
5,137
1,359
14, 721
2,705
4,781
2,363
23,423
2,510
7,987
8,439
13,449
2,123
5,188
1,362
28, 315
6,594
2,376
3,349
2,272
5,175
1,925
1,427
28, 492
6,669
2,389
3,356
2,286
5,203
1,915
1,446
28,737 '28,794
6,756 ' 6, 737
2,383 ' 2, 377
3,372 '3,338
2,300 '2,305
5,290 '5,412
1,950 '1,960
1,453 '1,428
28,613
6,657
2,375
3,366
2,303
5,422
1,907
1,415
10, 786
4,420
13, 407
Jan.
May
June
July
GENERAL BUSINESS INDICATORS—Continued
MANUFACTURERS' SALES, INVENTORIES,
AND ORDERS— Continued
Inventories, end of year or month— Continued
Book value (seasonally adjusted)— Continued
By industry group— C ontinued
Durable goods industries— Continued
By stage of fabrication:
Materials and supplies 9
mil. $
Primary metals
do
Machinery (elec. and nonelec.)...do
Transportation equipment
do
Work in process 9
do
Primary metals
do
Machinery (elec. and nonelec.)._.do
Transportation equipment
do
Finished goods 9
do
Primary metals
do
Machinery (elec. and nonelec.) do
Transportation equipment
do
Nondurable goods industries, total 9
Food and kindred products
Tobacco products
Textile mill products
Paper and allied products
Chemicals and allied products
Petroleum and coal products
Rubber and plastics products
By stage of fabrication:
Materials and supplies
Work in process
Finished goods
6,699
5 465
11 272
1 831
4 086
1 187
13 507
2 486
4,266
2 221
19 693
2 394
7,099
6 149
11 803
1 890
4' 281
1 264
13, 653
2 472
4,390
2,227
20 235
2,438
7,221
6 522
11,902
1 877
4 327
1 257
13 997
2 495
4,529
2 363
20 698
2 501
7,356
6 771
12 119
1 906
4 442
1 265
14,309
2 486
4,673
2,452
20949
2,452
7,489
6 847
12,310
1 970
4 579
1 958
14 465
2 505
4,785
2 449
21 446
9 504
7,628
7 030
I 9 4419
1 96
4* 635
14, 599
2 548
4,846
2,468
21 934
2,503
7,791
7 284
12 777
2 006
4 795
1 339
14 802
2 603
4,877
2 477
9
2 263
2 477
7,853
7 512
I9 979
do
do
do
do
do
do
do
do
25 691
6 034
2 371
3 130
1 965
4,335
1 756
1 279
27 860
6 394
2 343
3 333
2 271
5,039
1 869
1 402
26 946 27 168
6 534
6 503
2 366
2 383
3 297
3 248
2 131
2*068
4,741
4,664
1 776
1 804
1 345
1 393
27 296
6 361
2 350
3 348
2 171
4,819
1 829
1 364
27 316
6,274
2 339
3 322
2 194
4,880
1 813
1 368
27 436
6 984
2 340
3 356
9 214
4.937
1 819
27 586
6 383
2 307
3 286
2,230
5,000
1 835
1 422
27 860
6 394
2 343
3* 333
2 271
5,039
1 869
1 ' 4fi9
28 266
6 593
2 336
3*325
2 265
5,145
1 930
1 444
do
do
do
9 964
3 862
11 865
10 501
4 333
13 026
10 562
4 044
12 340
10 506
4 062
12 600
10 615
4 126
12 555
10 579
4 *169
12' 568
1 0 ^49
10 571
4 253
12 762
10 501
4 333
13 026
10 609
4*349
13* 308
10, 553
4,349
13,413
10,637
4,355
13, 500
10,712 '10,767
4,346 ' 4, 366
13,679 ' 13, 661
7 021
9*844
14* 835
4 032
6 054
26 229
8 190
10, 476
18 166
4, 358
6 537
30, 170
7 573
10 485
16 034
3 952
6 192
27 713
7
10
16
4
6
28
7
10
16
4
6
28
768
313
709
293
267
760
7 893
10 247
17 125
4 253
6 298
29,068
8 002
10 313
4 998
6 ^80
29 338
8 083
10* 415
17 877
4*354
6 442
29,' 725
8
10
18
4
6
30
190
476
166
358
537
170
8 335
10* 698
18 495
4*424
6 493
30,' 441
8,356
10, 730
18 750
4,450
6,512
30, 596
8 327
10, 861
19 009
4,343
6,491
30, 677
8,306 '8 263 8,080
10,977 '10,994 10, 932
19,303 '19 481 19 649
4,263 ' 4, 171
4,087
6,541 ' 6, 504 6,492
30,940 '31,165 31,176
3 287
6 388
10, 701
4,189
8,732
12, 592
3 721
7 304
11, 339
3 765
7,513
11, 537
3 831
7,736
11,818
3 922
7,925
12,096
4 035
8 189
12, 228
4 148
8,465
12, 471
4,189
8,732
12, 592
4,311
8,990
12, 719
4,328
9,193
12, 801
4,286
9,405
12,830
4,253 ' 4, 276
9,615 ' 9, 744
12,873 '12,903
4,240
9,796
13,005
492 272
260 732
231 540
542, 179
289, 836
252, 343
47 664
26 120
21 544
42 314
22 521
19 793
43 805
22 244
21 561
48 083
25 9810
22 73
46 649
94 5{8
9
2 131
43 927
22 738
21 189
43, 377
22, 949
20 428
41 779
21,562
20 217
44, 802
23, 117
21, 685
45, 214
23, 204
22 010
45,091 '45,199
23,157 '23,600
21,934 '21,599
47, 928
25, 760
22, 168
2492 272 2 542, 179
45 833
45 695
46, 026
By market category:
Home goods and apparel
do
Consumer staples
_
_
do
Eouip and defense prod excl auto
do
Automotive equipment
do
Construction materials and supplies
do
Other materials and supplies
do
Supplementary market categories:
Consumer durables _
do
Defense products
_ do
Machinery and equipment
do
New orders net (not seas adj.), total
Durable goods industries, total
Nondurable goods industries total
do
do
do
New orders net (seas adj ) total
By industry group:
Durable goods industries, total 9
Primary metals
. _
Blast furnaces steel mills
Fabricated metal products
Machinery except electrical
Electrical machinery
Transportation equipment..
Aircraft and parts
do
Nondurable goods industries, total.
Industries with unfilled orders©
Industries without unfilled orders5
By market category:
Home goods and apparel
Consumer staples
_
'14,576 14, 491
' 2, 706 2,705
'4,719
4,669
'2,343
2,322
'23,592 23, 747
'r 2, 607
2,645
8, 014
8,092
8,442
8,510
'13,616 13, 565
' 2, 138
2,132
' 5, 256
5, 203
'1,399
1,409
14 802
2 603
4,877
2,477
22 263
2 477
7,853
7 512
12 972
9 029
4 865
1 380
12 943
2 388
3,816
2 278
18 109
2 130
609
499
330
117
20°
201
-I
QA1
1 qoc
4 9JM
12 643
9 QOQ
4 865
1 380
44 842
46 318
45 243
44 052
45 845
43 408
43, 527
43 700
43,849 ' 45, 738
do_
do
do
do
do
do
_do__
do
260, 732
41 017
21 378
24 914
38 434
35 292
72, 973
22 044
289, 836
46, 879
24, 285
26, 743
42 677
42, 269
79, 861
27,503
24 593
4 109
2 173
2 163
3 CAQ
3 487
6 902
2 569
24, 371
4 106
2 277
2 231
3 426
3 744
6,639
2 340
23, 512
3 792
1 906
2 128
3 774
3 603
5,986
2 072
25,274
4 047
2 166
9
106
3 715
3' 676
7,561
3 403
24 244
3 817
1 881
23, 027
3,588
1 834
2 °75
3 675
3 507
5,714
1 679
23, 960
3,677
1 737
2 4039
3 58
3' 358
6,540
2 410
22, 072
3,315
1,495
2 049
3 391
3,552
5,577
1 833
22, 329
3,427
1,805
2,224
3,266
3,362
5,799
2,291
22, 065
3,013
1,434
2 247
3 351
3,273
5,911
2,207
22,226 '23,857 24, 194
3,236 '3,606
3,614
1,701 ' 2, 020
1,891
2,136 ' 2 106 2,045
3,429 r 3 497
3 587
3,196 ' 3, 250 3,474
6,140 '7,209
7,318
2,228 ' 2, 763 3,055
do
do
do
231 540
63 458
168 082
252, 343
69, 463
182 880
21 240
5 834
21 254
5 952
15 309
21, 330
5 938
15 392
21,044
5 792
15 252
9Q 999
21, 025
5 799
15 226
21, 885
6 091
15 794
21, 336
5 934
15 409
21, 198
5, 750
15 448
21,635
5,824
15 811
21,623 '21,881
5,840 ' 5, 948
15,783 '15 933
21,832
5,950
15 882
do
do
45 057
101,315
65 081
51 053
38, 058
191 708
49, 710
110,454
75 275
52 058
39, 9413
215 69
4 271
9 202
4 174
9,205
6 464
3 884
3,221
18 677
4 149
9* 373
5 891
4 027
3*, 156
18 246
4 184
9,330
7 751
4 126
3,073
4 178
9 131
17 OKA
4 594
3.173
4 124
9,260
5 543
4 184
3,200
17 741
4,207
9,597
6,607
4,200
3,373
17 861
4,175
9,344
5 192
3*851
3,177
17 669
4,059
9,348
5 756
3,610
3,307
17 447
4,148
9,529
5 760
3 830
3,293
17 140
4,053 '4,151
9,555 ' 9, 685
5,685 r 6 560
3,962 M 503
3,099 '2,991
17,495 '17 848
4,155
9,635
7 013
4,336
2,962
17 925
19 449
32 534
49 679
21 318
40, 469
56,770
1 817
3 685
4 753
1 739
3,503
5 092
i 749
3, 155
4 813
1 758
4,671
4 906
1 894
3 308
4 816
1 764
2,727
4 647
1,786
3,359
4,603
1 826
2, 846
4,545
1,698
3,330
4,242
1 748
3,235
4 315
64 896
61,543
3 353
78, 630
75,315
3 315
74 705
70 883
76 602
72, 801
3 801
77 300
73 615
3 685
79 213
75,673
3 cxn
79 537
76 033
78 753
75, 346
3 407
78,630
75, 315
3 315
78 787
75, 485
3 302
78, 777
75, 536
3 241
77 959
74, 795
3 164
66 068
79, 917
75 009
76 310
76 942
79 170
79 993
79 581
79, 917
78, 863
78, 455
75, 427
6,466
2 880
6 135
12 716
12, 368
32,046
26, 061
75, 131
6,274
2 882
6,144
12 497
12, 394
32, 158
26, 505
3 436
3 324
Automotive equipment
Construction materials and supplies
do
do
Supplementary market categories:
Consumer durables
Defense products
_.
Machinery and equipment
do
do
do
Unfilled orders, end of year or month (unadjusted),
total
mil $
Durable goods industries, total _
do
Unfilled orders, end of year or month (seasonally
adjusted), total
mil $
By industry group:
Durable goods industries, total 9
do
Primary metals
do
Blast furnaces steel mills
do
Fabricated metal products
do
^lachinery except electrical
do
Electrical machinery
do
Transportation equipmentdo
Aircraft and parts
do
Nondur goods indust with unfilled orders© do
62, 534
5 646
2 730
5 467
10 304
9,830
25, 993
19 781
76,415
6,909
3 305
6 221
19 816
12, 279
32, 350
26 056
3 534
3 502
1 *\ 4OA
4 4.18
3,219
71, 308
7 312
5 866
11,318
299 434
2 997
9 931
3 fid 7
3 579
6 860
9 °37
5 £99
o epu
72, 651
7 374
3 816
5 954
11 820
11, 567
30, 332
23 420
73, 286
7 244
3 686
5 952
12 230
11, 793
30, 402
23 649
75,5919
7 37
3 813
5 856
19 524
12,056
32,119
95 274
76. 382
7 350
3 698
5 989
12 611
12,189
32 590
95 673
76, 170
7 125
3 550
6 084
12 818
12,310
32, 078
25 513
76,415
6,909
3 305
6, 221
19 816
12, 279
32, 350
26, 056
3 659
3 656
3 579
3 541
3 411
3 502
1,712
3,273
4,443
'1 728 1,829
4? 135
'3,865
4,791
' 4, 607
77,794 '77,856
74,609 '74,679
3,185 r 3 177
78,810
75, 681
3 129
77 290
77,194 '77,988
79, 146
74,060
5 771
2 529
6 119
12 359
12, 232
32, 009
26 649
74,016
5,569
2,487
6,176
12,335
12,206
32,237
26,971
3 230
3,178
i 21, 500
i 23, 800
i 3, 700
i 6, 800
i 3, 600
i 4, 800
i 76, 900
76, 136 i 76, 700
i 6, 000
5,891
2 852
r 2 716
'6 189 6,135
'12 376 12 444
' 12, 133 12, 247
'33,066 33, 932 V 34," 400
'27,667 28, 642
'74,973
' 5, 741
r 3 015
3 010
By market category:
2,027 '1,957
1,970
2,230
2,219
2,154
2,247
Home goods, apparel, consumer staples. ..do
2,324
2,050
2,341
2,295
2,295
2,124
2,230
2,313
Equip, and defense prod., incl. auto
do
34, 732
42, 205 38, 503 39, 198 39, 354 41,426 42, 165 41,740 42, 205 41,479 41,297 40, 886 40,709 '41,522 42, 507
6,513 ' 6, 482
6,426
6, 493
6,405
6,330
6,457
Construction materials and supplies
do
6,330
6,454
6,041
6,493
6,290
6, 274
6,320
6,188
Other materials and supplies
do _
23, 171
28, 989 27 875 28, 487 28, 973 29,243 29, 160 29, 264 28, 989 28, 760 28, 547 27, 900 27,945 '28,027 28, 243
Supplementary market categories:
1,509
1,704
1 704
1,485
1,644
Consumer durables
do
1 740
1,720
1 757
1 520
1 601
1 744
1 780
1 526
1 819
1 744
Defense products
.
do
24 587
31 765 28 269 28 879 29 184 31 033 31 453 31,316 31,765 31,735 32, 167 32*268 32 552 '33,253 34, 259
19,
035
19,
614
19,545
'
18,
898
Machinery and equipment
.do
19, 224 18, 909 18,830
16,000
19,614 18,' 142 18, 683 18, 986 19,333 19, 499 19, 602
2
' Revised.
i Advance estimate.
Data for total and components (incl. market
filled orders for other nondurable goods industries are zero.
filled
IFor these industries (food and
categories) are based on new orders not seasonally adjusted.
kindred products, tobacco products, apparel and related products, petroleum and coal products, chemicals and allied products, and rubber and plastics products) sales are considered
9 Includes data for items not shown separately.
©Includes textile mill products,
o n n a l to
tn TIPW
nrrfprc
leather and products, paper and allied products, and printing and publishing industries; unequal
new orders.
August 1967
SURVEY OF CURRENT BUSINESS
Unless otherwise stated, statistics through 1964
and descriptive notes are shown in the 1965
edition of BUSINESS STATISTICS
1965
1966
Annual
S-7
1967
1966
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
GENERAL BUSINESS INDICATORS—Continued
BUSINESS INCORPORATIONS^
New incorporations (50 States and Dist. Col.):
Unadjusted..
number
Seasonally adjusted©
do
INDUSTRIAL AND COMMERCIAL
FAILUREScf
___
number
Failures, total
Commercial service
Construction
Manufacturing and mining
Retail trade
Wholesale trade
do
do
do _
do
do
_
Liabilities (current), total.. ._ _
thous. $
Commercial service
Construction
__
Manufacturing and mining
Retail trade
Wholesale trade
do
do
do
do
do
Failure annual rate (seasonally adjusted)
No. per 10,000 concerns. .
203 897
200, 010
17, 500
16 577
15, 336
16 074
16,149
16,343
14, 528
15 764
15,241
16233
13 982
16 206
16,467
16 583
18, 714
16 703
15, 225
15 987
19, 036
16 244
16,511
16 760
18, 700
17 627
18, 591
17 799
13 514
13, 061
1,077
1,017
1,249
1 042
1,150
1 112
1 055
1,191
1,216
1,216
1,160
1,100
1,047
843
1 299
2 513
2,097
6 250
1 355
1,368
2,510
1, 852
6,076
1,255
100
212
157
511
97
94
186
144
492
101
112
276
191
567
103
123
195
159
470
95
138
213
154
542
103
127
214
145
5?6
100
111
219
157
454
114
113
223
171
558
126
152
236
160
555
113
128
227
190
557
114
125
238
149
519
129
119
193
157
515
116
105
180
163
500
99
82
132
129
405
95
69, 876 178,088 129, 162 108, 046 106 732 161 481 108, 172 113 450 119,322 103 817
93, 370 104, 643
72 551
185, 202
326, 376
352, 861
344 346
176, 874
27, 123
20, 736
28, 330
32, 528
14, 858
4,459
18, 233
19, 230
18 757
9,197
38, 358
33, 193
43, 497
30 488
32, 552
14, 435
24, 513
50,411
23 9'> 8
15,875
8,230
24, 399
34, 992
26 043
14, 382
6,161
24 523
33, 768
27 343
14, 937
11,654
67 110
29, 338
38 631
14, 748
8,044
19, 361
32, 818
27 301
20, 648
12, 746
25 050
32, 325
32 887
10, 442
10, 086
38 928
29, 321
32 652
8,335
9,767
29 058
27, 489
25 367
12,136
10, 280
16,046
26,912
26 307
13, 825
6,896
26, 912
26,062
27, 931
16,842
4, 690
16 191
27, 100
17 062
7,508
151.6
49.4
52.3
60.8
56.6
57.2
55.6
52.4
54.9
57.1
49.7
52.1
48.6
48.6
43.2
255
250
224
276
173
186
189
199
561
272
300
323
144
245
223
305
173
183
185
193
558
264
291
319
130
252
221
276
167
183
188
197
558
279
288
351
126
255
227
322
169
184
179
217
558
279
288
353
123
257
225
326
178
178
167
203
558
285
292
358
133
1,321,666 1,385,659 123, 575
248, 523
290 980
350, 324
287 478
144, 361
1
53. 3
COMMODITY PRICES
PRICES RECEIVED AND PAID BY
FARMERS
Prices received, all farm productst
1910-14 = 100__
Crops 9
do
Commercial vegetables ._
do
Cotton
do
Feed grains and hay
do
Food grains
do
Fruit
_
do
Tobacco
do
Livestock and products 9
do
Dairy products
.__
do
Meat animals
do
Poultry and eggs
do
Prices paid :
All commodities and services
do
Family living items..- _ _
do
Production items
do
All commodities and services, interest, taxes, and
wage rates (parity index).
1910-14 = 100..
Parity ratio §
.
do
248
234
262
245
174
164
247
513
261
261
319
145
266
235
288
215
181
185
243
553
292
293
356
161
264
240
280
248
176
189
261
546
284
268
360
148
268
246
309
251
182
204
227
553
287
287
353
153
271
239
286
179
188
199
238
564
300
304
366
163
270
235
268
179
190
198
254
567
300
320
355
167
266
233
268
190
184
188
273
560
293
326
343
160
259
230
293
185
183
189
226
557
284
324
324
163
257
229
291
186
187
191
205
562
281
320
323
158
288
168
186
187
206
556
281
311
330
152
252
223
280
175
184
179
199
561
276
306
328
142
288
306
276
298
315
285
296
314
283
297
315
285
299
317
287
301
318
289
300
318
287
300
318
286
300
318
287
301
318
289
301
318
288
301
318
289
301
318
288
302
320
289
303
321
290
304
323
291
321
77
334
80
333
79
334
80
335
81
337
80
337
79
337
77
337
76
340
75
339
74
340
74
341
72
342
74
343
74
345
74
2 113. 1 2112.9
CONSUMER PRICES
(17.5. Department of Labor Indexes')
Unadjusted indexes:
All items
1957-59 = 100-.
Special group indexes:
All items less shelter
do
All items less food
_
do
Commodities
.
do
Nondurables
do
Durables 9
do
New cars
do
Used cars .
do
Commodities less food . .
do
Services
_ _
do
Services less rent
do
Food9
do
Meats, poultry, and
fish
do
Dairy products
do
Fruits and vegetables
do
Housing...
do
Shelter9
do
Rent
do
Homeownership
do
Fuel and utilities9
do.
Fuel oil and coal
"do
Gas and electricity
do
Household furnishings and operation do
Apparel and upkeep
do
Transportation. .
do
Private
do
Public
do
Health and recreation 9
do
Medical care
do
Personal care..
do
Reading and recreation
do
Seasonally adjusted indexes:*
Food
do
A pparel and upkeep
do
Transportation
do
109.9
109.6
110.4
106.4
107. 9
102.6
99.0
120.8
105. 1
117.8
120.0
108.8
105. 1
105. 0
115.2
108. 5
110.6
108.9
111.4
107.2
105.6
107.8
103.1
106.8
111.1
109.7
121.4
115. 6
122.3
109.9
115.2
112.9
113.0
109.2
111.8
102.7
97.2
117.8
106.5
122.3
125.0
114.2
114.1
111.8
117.6
111.1
114.1
110.4
115.7
107.7
108.3
108.1
105.0
109.6
112.7
111.0
125.8
119.0
127.7
112.2
117.1
113.3
113.8
114.1
114.5
114.6
114.7
114.7
114.8
115.0
115.3
115.6
116.0
112.6
112.8
109.0
111.5
102.6
96.8
118.2
106.4
122.0
124.8
113.9
114.2
109.6
121.7
111.1
114.1
110.2
115.8
108.0
107.0
108.1
104. 8
109.4
112.2
110.7
122.8
118.7
127.0
112.2
117.0
113.1
113.2
109.3
111.8
103.0
96.7
120.3
106.7
122.6
125.5
114.3
114.3
111.0
121.5
111.3
114.4
110.3
116.2
107.9
107.0
108.1
105.1
109.2
113.5
111.5
129.1
119.1
127.7
112.5
117.2
113. 6
113.4
109.8
112.5
103. 0
95.8
122. 1
106.6
123. 0
125.9
115. 8
114.5
114.8
122.3
111.5
114.6
110.6
116.4
107.9
107.0
108.1
105.2
109.2
113.5
111.6
129.2
119.5
128. 4
112.7
117.4
113.9
113.8
110.0
112.9
102. 7
94.4
120.1
107.0
123.5
126. 5
115.6
114.8
116.0
116.6
111.8
115.0
110.7
116.8
108.0
107.4
108.1
105.7
110.7
113.3
111.3
129.5
119.9
129. 4
113.0
117.5
114.3
114.4
110.3
113.1
103.5
98.4
120.8
107.6
124. 1
127.1
115.6
113.8
117.1
115.3
112.2
115. 5
111.0
117.4
108.1
108.3
108.0
106.1
111.5
114.3
112.3
129.6
120.4
130.4
113.3
118.0
114.4
114.8
110.2
112.9
103.5
99.3
119.3
107.8
124. 7
127.7
114.8
111.8
116.7
114.9
112.6
115.8
111.2
117.8
108.3
108.9
108.1
106.5
112.0
114.5
112.6
129.6
120. 8
131.3
113.4
118.3
114.3
114.9
110.1
113.0
103.1
98.6
114.2
107.7
125.2
128.3
114.8
110.9
116.5
114.3
113.0
116.4
111.3
118.6
108.4
110.2
107.9
106.7
112.3
113.8
111.7
129,8
121.0
131.9
113.7
118.4
114.2
114.8
109.9
112.7
102.7
97.6
113.0
107.3
125.5
128.8
114.7
110.3
116.4
115.3
113.1
116.5
111.4
118.7
108.6
110.5
108.3
106.7
111.3
113.4
111.4
129.8
121.4
132.9
113.8
118.5
114.3
115.2
109.9
112.7
102.8
97.3
114.0
107.6
125. 9
129.2
114.2
110.7
116.1
114.2
113.3
116.8
111.7
118.9
108.7
111.1
108.3
107.0
111.9
113.8
111.8
130.0
121.8
133.6
114.1
118.6
114.6
115.4
110.0
112.9
102.9
97.2
115.9
107.8
126.3
129.5
114.2
110.0
115.7
115.2
113.3
116.6
111.8
118.6
108.7
111.1
108.3
107.3
112.6
114.2
112.2
130.5
122.2
134.6
114.4'
118.9
114.8
115.9
110.2
113.0
103.4
97.0
118.8
108.4
126. 6
130.0
113.7
109.0
115.7
114.2
113. 6
116.9
111.9
119.0
108.8
111.0
108.4
107.7
113.0
115.1
113.2
130.6
122.6
135.1
114.9
119. 4
115.1
116.3
110.5
113.2
103.9
96.9
121.4
108.7
127.0
130.4
113.9
108.5
115.9
116.4
113.9
117.5
112.1
119.7
108.7
110.8
108. 3
107.9
113.8
115.5
113.6
130.9
122.8
135.7
115.0
119.6
115.6
116.5
111.0
113.8
104.1
96.8
122.4
108.9
127.4
130.8
115.1
111.6
116.3
119.9
114.1
117.7
112.2
119.9
108.6
110.5
108.2
108.1
113.9
115.7
113.7
132.2
123.2
136.3
115.3
119.7
114.0
109.5
112 3
113.2
109. 6
113.4
115.5
109. 6
113.5
115.3
110.5
113.5
115.8
110.8
114.1
115.3
111.3
114.0
115.3
111.7
113.3
114.9
111.9
113.2
114.0
112.3
114.3
114.3
112.9
114.5
113.9
113.1
115.3
114.5
113.7
115.6
115. 3
113.9
115.9
* Revised.
1 Based on unadjusted data.
• Beginning with indexes for Jan. 1966, data for six additional areas (Cincinnati, Houston,
Kansas City, Milwaukee, Minneapolis-St. Paul, and San Diego) have been incorporated
into the national CPI. These areas were "linked" into the CPI as of Dec. 1965 and were
first used in calculating the Dec. 1965-Jan. 1966 price change.
cf Compiled by Dun & Bradstreet, Inc. (failures data are for 48 States and Dist Col.)
eRevised seasonally adjusted data for Jan. 1964-Nov. 1965 will be shown later.
tRe^visions fo r Jan. 1963-Mar. 1966 (bac k to Jan . 1959 for all farm products , crops, a nd feed
grains and hay) are available upon request.
§ Ratio of prices received to prices paid (parity index).
9 Includes data for items not
shown separately.
*Newseries. Beginning with indexes for Jan. 1966, seasonally adjusted
indexes for selected groups and subgroups of the CPI were published by the Dept. of Labor.
Additional information and a description of the BLS Seasonal Factor Method are available
from the Bureau of Labor Statistics, U.S. Dept. of Labor, Washington. D.C. 20212.
SUKVEY OF CURRENT BUSINESS
S-8
Unless otherwise stated, statistics through 1964
and descriptive notes are shown in the 1965
edition of BUSINESS STATISTICS
1966
1965
August 1967
1966
Annual
June
July
Aug.
Sept.
1967
Oct.
Nov.
June
July p
Jan.
Feb.
Mar.
Apr.
10° 8
98 6
105 8
109 9
97 5
106 8
102 0
105 2
100 0
96 3
109 5
98.1
95.3
100.1
99.0
98 1
99 6
98.8
97 3
99.8
97.1
95 4
98.3
106.5
Dec.
May
COMMODITY PRICES—Continued
WHOLESALE PRICEScft
(U.S. Department of Labor Indexes)
Spot market prices, basic commodities:
22 Commodities
1957-59=100
9 Foodstuffs
do
13 Raw industrials
do
All commodities t-- -
- -
I
i 104 7
i H4 g
i 109 5
i 101 9
i 115 9
111 4
109 0
118 4
113 1
105 3
118 8
110 6
109 i
111 7
107 3
105 1
108 9
103 7
100 1
106 3
- -do
10? 5
105 9
105 7
106 4
106 8
106 8
106 2
105 9
105 9
106 2
106 0
105 7
105 3
105.8
106.3
do
do
do
98.9
109 °
103 6
105.3
104 8
106 9
105.6
104 9
106 4
407. 8
105 4
107 0
107.4
105 g
107 5
106.1
105 6
108 1
103.6
105 3
107 g
101.1
107 8
100.8
105 4
107 6
101.9
105 6
107 7
100.8
105 5
107 6
99.7
105 5
107 2
98.0
105 5
107 0
100.6
105 3
107.6
101.4
105.4
108.4
do
do
do
do
do
103
101
109
103
101
106
105
105
106
105
0
6
7
0
3
106 9
105 2
105 6
106 1
105 1
106 9
106 4
106 0
106 1
105 8
106
107
106
106
106
9
0
4
3
5
106 2
107 1
106 4
106 3
106 5
106 6
105 8
106 3
106 7
105 8
106 9
105 91
106
107 0
105 3
107 1
104 9
106 °
107 2
105 9
107
105
106
107
105
107
104
106
107
105
107
104
106
107
104
6
2
3
7
8
107 6
103 7
106.2
107 8
104.6
107 5
104.6
106.3
107.7
105.0
107.5
105.4
106. 6
107.7
105.6
do
Py stage of processing:
Crude materials for further processing
Intermediate materials, supplies, etc
Finished goodsO.-_. _- By durability of product:
Durable goods
Nondurable goods _
Total manufactures
__ ... _ _
Durable manufactures
Nondurable manufactures
Farm prod., processed foods and feedsf
1 91 Q
7
5
8
7
9
1 fi9 PL
Qfi
I f)C
1
V
4
2
4
5
3
Q7 ^
6
7
4
7
1
102.1
108.9
107.7
109.9
111.3
111.5
108.8
107.1
106.7
107.0
105.7
104.6
103.4
105.0
106.8
Farm products? --- -do
Fruits and vegetables, fresh and dried-do,
Grains
do
Live poultry* _
- _
_ do_
Livestock*. . .
.
do-_
98
101
89
87
100
4
8
6
2
5
105 6
10° 5
97 3
91 4
110 0
104 2
99 7
94 9
95 6
110 1
107 8
107 0
103 91
94
108 7
108
97
105
89
104 4
97 9
98 Q
83 1
106 5
109 95
104
98 0
85 1
98 4
101 8
101 3
101 5
77 2
97 9
109 6
101 8
100 7
88 1
101 4
101 0
104 5
95 8
97 1
99 5
99
98
99
90
97
6
4
9
8
4
97.6
99.6
98.3
89.0
94.0
100.7
104.4
98.0
85.6
102.6
102.4
114.3
96.1
85.7
104.9
102. 4
119 0
108 7
110 4
104 6
87 5
109 9
Foods and feeds, processed 9 *
do
106 7
113 0
113 8
115 7
115 5
113 9
112 6
110 6
110. 0
105 9
110.7
106 0
115 4
118 5
115 5
119 8
118
9
194 0
118 9
124 2
118
7
194 5
118 7
i —,. b
1 0^ 8
1 O^i Q
117
5
190 7
104 9
101.7
120 1
104 3
me
117! 4
120.8
105 1
103^8
'112.6
106 3
117.2
122.2
106 5
108.3
113.2
109 0
108 5
112 8
1 o^ s
1189 0
12 3
112 8
_ _ do
do
II 9 0
i nfi i
114 0
116 5
106.0
106.0
106.0
106.0
106.1
98.8
105.2
97.5
94.1
82.9
108.8
98.5
105.1
97.2
94.1
79.5
108.8
Cereal and bakery products.. _
Dairy products
Meats, poultry, and fish .__ _ .
Industrial commodities §
.
do
.
do
Chemicals and allied products 9
Agric. chemicals and chem. prod.*
Chemicals, industrial .
Drugs and Pharmaceuticals
Fats and oils inedible
Prepared paint... __
. __ .
do
do
do _
do
do
do__
Fuels and related prod and power 9
do
Coal
do
Electric power
Jan. 1958 = 100
Gas fuels
do
Petroleum products, refined
1957-59=100. _
1 fir
7
101 0
110 2
109 9
110 0
111 1
11° 2
108 1
104 9
104 4
105.4
111 7
ift*«Q
117 93
1?1
i n_L *3
104 7
104 9
9
105
9
105 2
105 3
105 5
105 5
105.8
106 0
9
6
9
5
^
8
97 9
101 9
95 8
94 7
105 5
106 8
98 0
109 2
95 8
94 g
103 8
106 8
102 5
104 7
97 4
101 8
95 0
94 4
119 7
105.4
97
102
95
94
10°
106
98 9
96 5
100
8
194 1
95.9
101 3
98 6
100 3
199 3
99.5
101 95
97
100 2
128 5
100.2
10i 4
97 6
100 3
198 3
99.9
109 0
98~' 5
100
3
198 9
100.7
102 *?
99 6
100 3
129 2
101.0
1Q9 c
98.0
on f)
98.9
89.4
108.9
83.5
99.0
89 1
109 1
83 5
99.1
88 8
109 4
83 1
122.9
118.9
161.0
126.6
107.7
112 0
122.7
119.0
156.4
126.0
106.6
110 5
121 2
119.1
141.2
124.9
106.2
110 2
g
8
7
5
8
8
Furniture and household durables 9
do
Appliances, household
do
Furniture, household _ _
. d o
Home electronic equipment*A
do
106.2
85 2
99.1
89 1
109 1
83 6
Hides, skins, and leather products 9
Footwear
Hides and skins
Leather
_._
__.
Lumber and wood products
Lumber
109.2
110.7
111.2
108.1
101.1
101 9
119 7
118.2
140.8
121. 1
105.6
108 5
do _
do
do
_do
do
do
1
7
6
8
97
102
95
94
101
106
6
9
8
3
6
8
105
97
102
95
94
1C5
106
i n^t R
117.6
191 8
•inc a
117.2
98 0
103 3
96 0
95 0
91 fl
107 8
98 2
103. 1
96.4
94 7
95 1
108. 5
98.4
104.2
96.6
94.7
92 3
108.7
98 5
105.4
96.9
94 2
89 1
108.7
98 5
105 9
97.0
94 4
81 5
108.8
98.8
105.2
97.6
94.0
85.3
108.8
100 96
100
130 7
101.3
109 7
101 9
100 3
130 6
101.3
109 4
10° 4
100 8
139 o
100.2
109 6
102 3
100 6
134 6
100.3
103 4
102 3
100 6
134 5
101.9
103 7
102 2
100 6
134 6
102.4
103.3
102.7
100.6
134.8
101.7
104.4
102.6
100.6
135.0
103.7
104.0
102.4
100.5
134.3
103.1
99.2
88 7
109 8
83 3
99.7
88 9
110 3
83 8
100.3
89 2
111 5
83 8
100.4
89.2
111.8
83.8
100.4
89.6
111.9
83.6
100.4
89.7
112.0
83.5
100.6
89.8
112.4
83.3
100.6
89.8
112.4
83.3
100.8
89.7
112.4
82.9
100.8
90.0
112.4
82.0
119 9
119.1
134.2
121.8
105.9
109 5
118 7
120.1
120.8
117.5
104.8
108 0
117 5
120. 1
114.3
114.1
103.0
105 6
117.3
120.3
109.2
116.2
102.5
104 5
117.9
120. 9
110.1
116.9
102.6
104.5
118.0
121.6
107.8
116.3
103.6
105.4
110 7
120. 8
121.0
101.5
121.8
111 1
121.5
121.3
101.9
121.9
II 1 2
121.7
121.4
101.8
122.2
97 9
1Q9 g
95 9
95 o
94 5
107 3
r
116.9
121.7
98.9
114.6
103.6
106.0
r
r
l!5.7 '115.2
121.5 r121.4
r
87. 2
88. 3
110.9
112.9
104.2
104.1
107.0
106.6
115.6
121.5
110.2
108.0
111 5
121.9
121.5
102.2
122.6
111.6
121.8
121.8
102.3
122.9
111.6
121.8
121.9
101.9
123. 6
111.6
121.8
121.9
101.8
123. 6
109.1
Machinery and equipment 9 *
do
Agricultural machinery and equip . do
Construction machinery and equip
do _
Electrical machinery and equip
do
Metalworking machinery and equip.*.. do
105 0
115! 1
115.3
96.8
113.6
108 2
118 5
118 9
99 0
118.8
108 1
118.4
118.9
98.8
119.0
108 3
118.5
118.9
99 0
119.0
108 5
118.3
118.9
99 1
119.5
108 9
118.2
119.4
99 2
120.5
109 4
118. 5
119 8
99 5
121.1
HO 9
120.4
120. 6
100 7
121.5
Metals and metal products 9
do_ ..
Heating equipment.. _ _ _ _ _ _ _ _ _ d o
Iron and steel. _ __
.
do.
Nonferrous metals
do
105.7
91.7
101.4
115.2
108.3
92.5
102.3
120 9
108.7
92.5
102.0
123.2
108.8
92.9
102. 2
122.9
108.5
92.5
102.7
120.4
108.4
92.9
102.5
119.9
108.6
93.3
102.5
120 3
109.0
93.4
102.8
121.0
109.0
93.4
102.9
120.5
109.4
109.6
103.0
121.8
103.2
122.3
109.4
92.2
103.3
121.1
103.2
120.0
108.9
92 0
103.2
118.9
108. 9
99 5
103.3
118. 7
Nonmetallic mineral products 9
do
Clay prod., structural, excl. refractories*
do....
Concrete products
do
Gypsum products
do
Pulp, paper, and allied products
do
Paper
do
Rubber and products
do
Tires and tubes
do
101.7
102 6
102.5
102. 7
102.7
103.0
103 2
103.3
103.3
103.6
103.7
103. 8
103.9
103.8
103.9
106.6
101 5
104.0
99.9
104.1
92.9
90.0
108.4
1039 0
10 4
102.6
107 3
94.8
93 3
108.4
103 0
102.7
103.0
108.0
95.4
94.4
108.5
103 1
102.7
103.2
108. 2
95.1
93.9
108.7
103 3
102.7
103.2
108 4
95.1
93.9
108.7
103 6
102.7
103.1
108.4
94.7
93.4
108.8
103 5
102 7
103.1
108 4
94.6
93.4
109.3
103 5
103.5
103.0
108. 5
95.0
93.9
109.1
103 9
103.5
103. 0
108.5
95.0
93.9
109.3
103.9
103.5
103.1
108.5
95.6
94.9
109.3
104.4
103.5
103.3
108.5
95.8
94.9
109.3
104.5
102.3
103.6
108.5
95.9
94.9
109.4
104.6
102.3
103.9
109.3
95.9
94.0
109.7
105.2
102.3
103.9
109.5
95.8
94.0
109.7
105.7
100.1
103.9
109.6
95.8
94.0
Textile products and apparel 9
Apparel..
Cotton products
__
Manmade fiber textile products
Silk yarns
Wool products
101.8
103.7
100.2
95.0
134.3
104.3
102.1
105 0
102.5
89.5
153 6
106 0
102.2
104.8
102.8
90.0
143.8
106.5
102.4
105.0
103.0
90.1
152. 1
106.7
102.4
105.2
103.3
89.6
156.7
106.6
102.2
105.1
103.1
88.6
158.6
106.1
102.2
105. 3
103.3
88.1
161.1
105.6
102.1
105.5
103.0
87.7
161. 1
105.1
101.8
105. 4
102.7
86.9
163. 2
104.8
102.0
105.7
102.5
87.1
166.1
104.7
102.0
105.9
101.8
87.1
164.1
104.7
101.8
106.0
101.3
86.9
164.1
104.0
101.8
106.2
100.8
86.8
164.5
102.9
101.6
106.3
100.3
86.3
167.0
103.1
101.6
106.7
99.7
85.8
167.0
103. 2
100.7
104.8
102.7
106.2
100 8
106 8
104 1
109.6
100.7
106.9
103.7
110.3
100.7
107.1
104.5
110.3
100.5
107.1
104.9
110.3
100.1
107.1
104.8
110.3
101.7
107.2
105.0
110.3
101.7
107.4
104.8
110.2
161. 7
107.5
104.8
110.3
101.6
107.9
105. 2
110.3
101.6
108. 0
105.3
110.3
101.6
107.7
104.0
110.3
101.6
108.0
105.2
110.3
101.6
108.0
105.3
110.3
101.4
109.6
105.3
114.8
$0. 945 $0. 946
. 884
. 886
$0. 940
.883
$0. 936
.879
$0. 936
. 876
$0. 942
.873
$0. 944
. 873
$0. 944
. 8/2
$0. 942
$0. 943
$0. 946
$0. 950
$0. 945
865
Transportation equipment 9 *
Motor vehicles and equipment
Miscellaneous products 9 *
Toys, sporting goods etc
Tobacco products*
_ do
do
do
do
do
do
do
do
do
do
_do .
PURCHASING POWER OF THE DOLLAR
As measured byWholesale prices
Consumer prices
1957-59 =$1.00..
do
$0. 976
.910
T
1
Revised.
p Preliminary.
Computed by OBE.
cfFor actual wholesale prices
of individual commodities, see respective commodities.
tBeginning Jan. 1967, indexes
incorporate revised weighting structure reflecting 1963 values of shipments; details regarding
weight revision as well as changes in classification structure are available from the Bureau
of Labor Statistics, U.S. Dept. of Labor, Wash., D.C. 20212.
OGoods to users, incl. raw
$0. 9419 I $0.939
86
foods and fuels.
^Formerly "farm prod, and processed foods."
9Includes items not
shown separately.
*New series; data prior to Feb. 1966 (where available) may be obtained
from BLS.
0Formerly "canned and frozen fruits and vegetables.'
formerly
"commod. other than farm prod, and foods."
AFormerly "television, radio receivers,
and phonographs."
SURVEY OF CURRENT BUSINESS
August 1967
1965
Unless otherwise stated, statistics through 1964
and descriptive notes are shown in the 1965
edition of BUSINESS STATISTICS
1966
1966
Annual
S-9
June
July
Aug.
Sept.
1967
Oct.
Dec.
Nov.
Jan.
Feb.
Mar.
Apr.
May
June
July
CONSTRUCTION AND REAL ESTATE
CONSTRUCTION PUT IN PLACE f
mil. $_. ^71,912
New construction (unadjusted), total
r
74, 371 ' 6, 875 ' 6, 948 ' 7, 009 ' 6, 928 ' 6, 656 ' 6, 281 ' 5, 685 '4,976
r
49, 840 ' 50 446
Private total 9
do
' r 26, 266 r 23,815
Residential (nonfarrn)
do
New housing units _
. _
do
20, 351 ' 17, 964
Nonresidential buildings, except farm and pub' 16,584 ' T18, 607
lic utilities, total 9
_.
mil. $
5,128 T 6, 703
Industrial
do
6,745
6 890
Commercial
do
Farm construction
_do
1,189 ' 1, 225
Public utilities9
do
5,385
Telephone and telegraph
. _do
1,461
1,600
Public, total 9
Buildings (excluding military) 9
Residential
_
Industrial
Military facilities-..
Highways and streets
_
.do .__
_.do_ _
- - -do .
do
..do
r 7, 881
'602
365
'852
' 7, 554
8,921
653
'369
'713
8,359
New construction (seasonally adjusted at annual
rates), total
bil. $Private, total 9
do
Residential (nonfarm)
do_ _
Nonresidential buildings, except farm and public utilities total 9
bil. $
Industrial
do
Commercial
_ _
-do
Farm construction _.
_
do
Public utilities 9
--do
Telephone and telegraph.
do
Public, total 9
'813
'57
' 40
'70
'872
1.7
'8.6
4
'8
83
i 49 272
2143
i 50 1 50
2
Public ownership
mil. $
i 16, 209
18 152
31, 998
Private ownership
do
i 33, 064
By type of building:
19, 393
117,219
Nonresidential
do
17, 827
Residential
do
i 21 248
12, 930
Non-building construction. .
do
i 10, 805
New construction planning
52,112
(Engineering News-Record) §
do
45, 625
Concrete pavement awards:
Total—
. .
_thous. sq. yds._ 125, 580 119, 108
4,187
Airports
do
4 410
87, 834
Roads .
do
86, 779
23, 643
Streets and alleys
__do
29, 016
3,443
Miscellaneous
do
5 376
HOUSING STARTS AND PERMITS
New housing units started:
Unadjusted:
Total, incl. farm (private and public) t _ . thous.. r 1,509. 6 '1,196.2
One-family structuresdo
r
Privately owned i
do
l 472 9 '1,165.0
'1,487.5 '1,172.6
r
'782
' 53
'26
'59
'966
' 1 6
'8.5
'6
4
'7
8.2
1,241
710
966
566
'788
'56
'30
'66
'925
' 1.7
'8.6
.6
.4
.7
' 5, 751 ' 6, 337
6 928
139
1 672
'609
694
1 579
575
600
1 404
492
599
1 327
482
490
1 357
'473
144
is!
102
115
139
197
133
' 1, 662 '1,483
1,829
2,078
'2,313
'800
' 62
'33
'70
'862
19 3
69
7 i
1.7
'810
' 64
' 30
' 61
'822
' 27
44
42
47
73 0
46 6
20 9
r 79 9
r 74 9
91 1
r 99 1
99 8
18 °
6 1
7 2
17 3
5 ^
69
r 17 9
17 8
59
69
727
59
' 28
' 57
543
' 766
' 63
27
' 60
' 723
519
646
53
' 25
45
376
694
55
' 31
'49
460
' 28
45
' 72 3 ' 72 0 ' 72 2 ' 74 6 ' 74 7
' 47 9 r 47 i r 46 0 r 48 1 r 47 7
' 21 6 r 20 3 r 19 8 T 9Q Q r 90 4
r Ig 3
'67
'6 7
'1 6
'9.1
6
.4
' .7
'8.1
'9.3
6
3
'6
'8.0
' 18 5
'65
'69
' 6 7 '70
r 18 7
'1 6
'1 7
r 25 8
r 24 9
9.4
'7
3
'6
'8.2
r 20 5
r 19 8
'71
'79
71
'77
'1 6
17
' 27 0
26 4
'1 6
r 26 5
'8
91
9 7
7
4
7
95
9.5
8
3
'8
10.2
9 4
7
r 4
3
'6
1 419 ' 1 504 1 557
' 502
520
464
557
' 597
595
' 46 0 r 47 8
'6 0
r 7 1
'1 5
9
61
2,569
74 9
48 6
17
9
64
3
6
4
5
26 3
4 323
4 103
4 106
3 461
3 189
9 838
3 300
4 424
4 389
5 095
147
147
139
146
139
130
133
126
143
149
138
154
164
1 937
2 916
2 090
2 778
1 568
2, 754
1 379
2 724
1 607
2 499
1 357
9' io4
1 287
1 903
1 113
1 795
1 188
2 112
1 509
2 gig
1 498
9 891
3 275
1 820
2 169
3 945
1,885
1 828
1 140
1,813
1 484
1 499
1,729
1,515
1,079
1,676
1 280
1 146
1,796
1 225
1 086
1,424
1 076
' 961
1,358
903
928
1,175
937
796
1,430
1 056
814
1,714
1 584
1 127
1,830
1 627
'931
1,808
2 002
1 285
2,070
2 000
1 344
4,902
2,362
3,807
5,937
4,533
4,434
6,940
4,940
5,401
4,781
3,359
4,293
5,809
6, 829
59, 306
3 2 255
3
42
723
3
12,455
3
1 873
' 123. 8 ' 100. 1 ' 103. 7 '91.9
'79.1
'63.2
' 92. 9 '115.9
' 120 6 '99.3 ' iol. 8
' 76 6 ' 72 8 ' 60 2 ' 59 1
r
r
' 62. 0 '90.7
' 121. 5 '98.4
'89. 1
' 101. 6 '89.7
'75.1
'62.3
'77.0
'73.7
'86.9
' 74.4
' 71 4 '58 9
' 1, 185 '1,079 ' 1, 108 '1,048
' 1 161' 1,061 ' 1,088 ' 1,020
'845
'824
'975
'956
714
434
715
441
954
574
5 414
3
34, 119
1 419
23 814
8,027
859
921
543
'99.7
844
491
733
450
'61.1
'61.7
'60.4
61 4
91 5
' 57 7 ' 60. 2 '89 2
' 134. 2 ' 130. 9
' 113 7 ' 139 0 ' 194 7
'114.2
' 131. 9 ' 128. 9
' 112.0 ' 129 7 T
199 7
'931 ' 1,111 ' 1,149 ' 1,094 ' 1,116 ' 1,274 T \ 997
' 910 ' 1 079' 1 132' 1 067' 1 099r 1 954 ' 1908
759
477
942
549
894
551
928
558
1,028
578
125. 4
194 6
124. 2
123 3
1, 360
1 347
1 033 ' 1, 109 1,089
626
'630
601
116
121
121
122
122
122
122
123
123
123
123
123
123
124
126
824
904
925
814
808
867
941
963
867
852
863
927
954
852
853
877
950
969
887
863
881
952
971
888
863
883
953
980
890
864
884
969
980
890
864
885
970
979
886
878
887
970
979
884
879
889
970
992
890
883
891
970
997
890
883
891
970
997
890
883
891
972
997
890
882
899
982
997
890
912
909
982
997
891
912
Associated General Contractors (building only)
127
127
128
128
123
1957-59=100.r
!
2
Revised.
Annual total includes revisions not distributed to months.
Computed
from cumulative valuation total.
3 Data cover 6 months.
f Revised series. Monthly data for 1962 appear on p. 40 of the May 1966 SURVEY; those
for 1963-May 1966 will be shown later.
5,160
4 797
4 854
l 450 6 '1,141.5 ' 118 2 '97.6
do
do
New private housing units authorized by bldg. permits (12,000 permit-issuing places):
Seasonally adjusted at annual rates:
Total
_
thous
One-family structures _
do
CONSTRUCTION COST INDEXES
Dept. of Commerce composite _
1957-59=100
American Appraisal Co., The:
Average, 30 cities
_ _ 1913=100
Atlanta
do
New York
_ _ _ _
do
San Francisco..
__. .
do
St. Louis
do
139
' 23 1 ' 22 6 ' 22 9 ' 23 9 ' 24 4
145
Seasonally adjusted at annual rates: $
Total, including farm (private only)
Total nonfarm (private only)
148
' 18 4 ' 19 0
r 7 0
7 2
'6 9
'6 7 T§ 8
1957-59=100.-
do
do
do
133
r 18 6
r 7 0
do ._
Total nonfarm (private and public)!
In metropolitan areas
Privately ownedj
150
' 74 5 r 73 1 ' 73 4 r 74 o
r 51 5 ' 50 5 ' 50 5 r 50 1
r 24 1
r 24 9
' 23 4 T 99 7
Buildings (excluding military) 9
do
Residential
_ _ _ _ _ _
do _
Industrial _
do
Military facilities
do
Highways and streets
do
CONSTRUCTION CONTRACTS
Construction contracts in 48 States (F. W. Dodge
Co.):
Valuation total
mil. $
Index (mo. data seas, adj.)
' 1 619' 1 691 ' 1 699' 1 762 1 670
' 609 ' 618 ' 615 '622
587
r 659
' 576 ' 596 r (543
635
' 22, 072 ' 23, 925 ' 2, 257 ' 2, 295 ' 2, 301 ' 2, 292 ' 2, 278 ' 2, 103 '1,814
do
' 4, 573
'r 4 618T 4 653
' 4 708 ' 4 636 ' 4 378 ' 4 178 ' 3 871 ' 3 314 ' 3 090 3 331 ' 3 673 ' 4 024 4 359
2 290 ' 2 393 T 2 264 ' 2 133 ' 1 948' 1*770 ' l' 605 ' 1 386' l' 273 l'430 ' 1 642r 1 866
2' 105
' 1 760r I 753 ' 1 668' 1 575' 1 443' 1998 ' l' 164 '985
'901
l'o30 r ] 188 ' 1 378 1 594
128
129
129
133
129
129
128
129
129
130
131
9 Includes data not shown separately.
§Data for June, Sept., and Dec. 1966 and Mar. and June 1967 are for 5 weeks; other
months, 4 weeks,
t Revised data for Jan.-May 1966 will be shown later.
SURVEY OF CURRENT BUSINESS
S-10
Unless otherwise stated, statistics through 1964
and descriotive notes are shown in the 1965
edition of BUSINESS STATISTICS
1965
1966
1966
Annual
August 1967
June
July
Aug.
1967
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
CONSTRUCTION AND REAL ESTATE—Continued
CONSTRUCTION COST INDEXES— Con.
E. H. Boeckh and Associates, Inc.: <f
Average, 20 cities:
All tvpes combined 1957-59=100
Apartments, hotels, office buildings
do
Commercial and factory buildings
do
Residences _ . _
_._ _. do
Engineering News-Record:
Building
do
Construction _ . . _
.
do
Bu. of Public Roads — Highway construction:
Composite (avg. for year or qtr.)
1957-59=100
CONSTRUCTION
117.2
118.5
117.2
115.2
122.1
123.2
122.2
120.0
121.9
123.1
121.9
120.1
122.8
124.1
122.9
120. 9
123.1
124.3
123.2
121.0
1°3 3
124. 5
123. 4
PI 2
124.0
125. 1
124. 2
121. 8
124.7
125.6
125.0
122 9
125 1
125. 9
125.5
122 6
125.3
126. 2
125.7
122.9
125.4
126.3
125.8
123.0
125.5
126.3
125.8
123.1
125.8
126.6
126.1
l'?3 3
127 0
127.9
127.3
124 8
130 1
131. 2
130.2
127 9
118.9
127.8
123. 8
134.3
124.5
135.4
124.6
136.1
125.0
136. 5
125 2
136. 5
125. 0
136.3
125.0
136.4
124.9
136.5
125.2
137.3
125.5
137.5
125.9
137.8
125 9
137.8
127.2
139.9
128 1
141. 1
105.7
113.0
113.7
156.3
157.6
180.5
168 5
160.2
166. 9
175. 8
160.0
165.1
158 7
156. 8
139.0
161.1
155 3
186 2
169.0
155 0
189 8
196. 4
166.5
250 6
175.3
142.7
226.7
185.3
166.3
258.3
171.5
158.1
233.3
188.9
153.0
102.1
99.2
13.0
127
8.8
90
10.6
124
8.5
99
11.6
119
10.4
106
504. 84
219. 04
7,342
i 128 6
i 142 5
112.8
113.2
139.5
146.4
124. 5
144.9
157.2
163.4
'r 148. 9
146 1
162.8
150.1
234.2
152.1
135.3
174.7
138.0
129. 1
125 9
143.3
132.7
110.4
132.4
137.1
102.5
171.3
164.8
148.5
'164.2
145 3
167 1
182.4
156.3
208 0
13.0
151
8.9
104
9.9
122
9.1
119
8.7
135
7.0
103
12.5
203
6.6
104
10.1
157
7.1
107
10.7
135
7.7
104
16.6
152
10.3
103
14.8
162
11.0
125
16.0
160
10.9
108
16.3
166
12.8
135
12.7
150
12. 2
145
546. 13
287. 43
515. 89
257. 14
415.68
270. 88
368. 53
247. 50
327. 27
225. 63
379. 30
213.88
301. 12
168. 52
388. 16
195. 36
358. 98
184. 12
406. 92
231. 28
508. 04
265. 88
501.11
295. 92
7,226
7,175
7,249
7,084
6,935
6,340
5,800
5,175
4,782
4,421
4, 302
4, 221
115.6
112.3
MATERIALS
Output index:
Composite, unadjusted?
Seasonally adjusted
1947-49 = 100
do
Iron and steel products, unadjusted
Lumber and wood products, unadj
Portland cement unadjusted
do
do
do
REAL ESTATE
Mortgage applications for new home construction:
Applications for FHA commitments
thous. units__
Seasonally adjusted annual ratesj
do
Requests for V A appraisals
_.
do
Seasonally adjusted annual ratesj
do
Home mortgages insured or guaranteed byFed IIous Adm : Face amount
mil $ 7 464. 59 6 095 32 557. 09
2, 652. 23 2, 600. 53 205. 32
Vet. Adm.: Face amount§
_ _do
Federal Home Loan Banks, outstanding advances
6,783
5,997
to member institutions, end of period
mil. $__
6,935
New mortgage loans of all savings and loan associations, estimated total _
.
.mil. $
By purpose of loan:
Home construction
do
Home purchase
_
. _
do
All other purposes
do
Nonfarm foreclosures
number
Fire losses (on bldgs. , contents, etc.)
r
23, 847
16, 729
1,629
1,234
1,314
1,119
947
866
936
788
950
1,347
1,339
r 1,738
2, 162
1,839
5 922
10, 697
7,228
3,604
7,748
5 377
340
823
466
266
643
325
272
722
320
241
572
306
208
473
266
184
423
259
189
423
324
165
365
258
205
420
325
306
571
470
312
586
441
'400
'779
'559
'435
' 1,046
'681
379
949
511
116 664
117 473
10 844
9,731
9,959
9,615
9,676
9,713
9,208
10,211
8,701
10, 584
123. 99
124. 71
123. 84
118.71
121.75
115. 63
142. 21
159. 74
155. 08
149. 66
142.86
143.15
164. 04
155
128
167
124
95
114
150
128
168
110
116
93
201
mil. $. . 1,455.63 1, 496. 76
i - - -.
DOMESTIC TRADE
ADVERTISING
Printers' Ink advertising index, seas. adj.:cf
Combined index
1957 59—100
Business papers
do
Magazines
do
Newspapers
do
Outdoor
do
Radio (network)
do
9
15
199
163
126
97
90
200
136
121
147
108
92
109
175
148
128
159
119
91
118
194
148
1269
16
120
84
118
195
1 260 3
99 1
409 °
934 g
112 0
145 4
9
59. 8
1 411 3
106 7
429 8
274 0
131 5
161 4
308 0
308 8
21 3
91 7
69 0
31 5
32 5
69 9
301 5
21 4
93 9
59.7
34 5
35.3
56.8
446 5
39.9
128.0
80.0
35.3
52.5
110.8
1 075 5
38 9
207 4
377 7
100.4
48.7
302 4
1 189 3
54 1
219 4
414 °
103.3
51. 0
347 3
313 7
16 1
53 Q
108 1
26.8
12.2
96 8
270 6
11 4
50 7
89 9
26. 9
12.6
79 1
314.8
13 7
58 1
108 4
23. 2
13.5
97 8
Magazine advertising (general and natl. farm magazines) :
Cost, total
___ .
mil. $.. 1,076.9
64.8
Apparel and accessories
do
111.7
Automotive, incl. accessories
do
30.4
Building materials.
_
do
115.9
Drugs and toiletries
_-_do
133.9
Foods, soft drinks, confectionery
do
1,166.7
68.1
123.5
34.5
134.4
125.4
93.0
2 5
9.2
3.4
12.7
10.8
71.8
1.0
6.9
2.1
9.3
9.8
67.4
7.0
5.0
1.8
8.8
7.3
108.1
11.7
8.9
3.6
11.2
10.2
125.9
7 6
16.3
3.7
13.9
12. 1
126.1
6.0
13.5
2. 7
15.2
12.8
101.5
4.0
7.8
1.4
13.8
10.3
68.4
1.7
7.0
1.4
8.0
7.1
89.9
4.1
10.1
2.0
11.6
10.4
106.4
6.8
10.9
3.8
11.5
11.0
110.9
8.3
10.2
4.2
13.0
8.6
6.3
69.3
79.2
Beer, wine, liquors
__
do
7.5
71.5
Household equip. , supplies, furnishings. . do
80.1
4.6
50.5
53.3
Industrial materials
do
.9
21.7
17.6
Soaps, cleansers, etc
- __do
3.4
41.6
39.6
Smokine materials
do
31.9
365.6
Allother
_
do
411.0
'Revised.
i Index as of Aug. 1, 1967: Building, 129.4; construction, 157.0.
^Copyrighted data: see last paragraph of headnote, p. S-l.
9 Includes data for items not shown separately.
5.1
4.0
4.5
1.2
3.1
25.0
3.6
3.1
4.0
.9
2.8
22.9
6.3
7.9
5.1
1.8
3.6
37. 8
8.4
11.1
5.9
1.7
3.9
41.3
11.0
8.5
5.6
2.5
4.5
43.9
14.1
5.0
4.5
1.4
4.5
34.7
3.0
2.8
4.0
1.1
2.5
29.7
5.1
3.5
4.1
1.7
3.4
33.9
6.8
6.5
5.5
2.3
3.1
38.2
6.6
8.6
5.9
2.5
3.1
39.9
Television advertising:
Network (major national networks) :
Net time costs total
m^l $
Automotive incl accessories
do
Drugs and toiletries
do
Foods5 soft drinks confectionery
do
Soap cleansers etc
do
Smoking materials
do
All other
do
Spot (natl. and regional, cooperating stations):
Gross time costs total
mil $
Drn?<> cnnrl tnilptrios
"R. ?
£ , • i,
Soaps, cleansers, etc__
Smoking materials
All other
f"~t~
"
~r?n
i
do
do
do
144
125
155
114
84
109
193
160
130
165
132
77
113
297
151
136
157
119
80
125
206
910
317.9
20.8
85.4
66.0
30.8
37.7
77.3
403.3
29.6
122.8
87.0
37.7
48.3
77.9
tRevised seasonally adjusted data for 1958-64 will be shown later.
§Data include guaranteed direct loans sold.
& Revisions for Jan. 1964-Feb. 1966 will be shown later.
112.1
5.7
10.6
3.9
13.4
9.6
8.1 i
9.3
6.3
2.5
3.5
39.1
97.8
2.4
8. 4
3. 1
14.9
10. 4
8.1
6.4
2.4
3. 5
32. 6
SURVEY OF CURRENT BUSINESS
August 1967
Unless otherwise stated, statistics through 1964
and descriptive notes are shown in the 1965
edition of BUSINESS STATISTICS
1965
S-ll
1967
1966
1966
June
Annual
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
300.1
80.6
219.5
16.5
5.6
29.3
168.1
279.1
76.4
202.7
15.7
5.4
26.3
155.3
July
DOMESTIC TRADE—Continued
ADVERTISING— Continued
Newspaper advertising linage (52 cities) :
Total
- mil.
Classified
Display, total
Automotive
_ _
Financial
General
- _
Retail
lines
do
do
do
do
do _
do
3,164.6
865.6
2, 298. 9
170.4
63.4
288.5
1,776.7
3, 354. 3
924.3
2, 430. 0
182.9
73.2
310.3
1, 863. 6
289.1
80.9
208.3
18.4
6.7
27.8
155.4
254.9
80.3
174.6
14.6
7.4
18.9
133.7
273.0
81.6
191.4
14.8
4.6
20.1
151.9
288.8
77.3
211.5
18.2
5.5
30.6
157. 2
308.7
81.4
227 2
"lQ. 7
7.1
31.5
171.9
305.4
70.4
235.0
14.2
5.8
32.6
182.4
289.7
61.1
228.6
9.2
5.7
23.1
190.6
241.1
71.1
170.0
11.6
7.9
20.5
129.9
233.6
66.4
167.2
12.3
4.7
22.7
127.5
278.3
74.1
204.3
14.3
5.6
25.5
158.9
mil. $_
294.3
80.2
214.1
15.6
5.8
28.9
163.8
RETAIL TRADE
All retail stores: t
Estimated sales (unadj.), total f
25, 081 '26,557 '27,539
283, 852
303, 672
25, 950
25, 329
25, 348
24, 864
25,923
26, 158
31,804
22, 567
21, 648
25, 679
do
do __
do
do
93, 718
56, 266
53, 217
3,049
97, 812
57, 414
53, 875
3,539
8,776
5,233
4,904
329
8, 162
4, 755
4, 424
331
8,234
4,677
4,365
312
7, 659
4,095
3,799
296
8,625
5,096
4,789
307
8,410
4,899
4,587
312
8,916
4,638
4,236
402
7,018
4,197
3,963
234
6,801
4,010
3,787
223
8,234
4,989
4,711
278
8,205
4,955
4,644
311
Furniture and appliance group 9
do
Furniture, home furnish ings stores — do
Household appliance, TV, radio
do _ _
13, 737
8,538
4,223
14, 978
9,089
4,905
1,229
765
392
1, 239
751
423
1,315
816
418
1,311
777
442
1,332
815
426
1,391
836
453
1,712
943
622
1,136
676
380
1,101
654
375
1,192
715
401
1,160
725
370
Lumber, building, hardware group 1
Lumber, bldg. materials dealerscT
Hardware stores
12, 115
9,302
2,813
12, 307
9,340
2,967
1,159
900
259
1, 116
870
246
1, 155
911
244
1,082
835
247
1,077
827
250
1,012
759
253
1,014
645
369
777
574
203
741
557
184
905
684
221
999
738
261
do __ 190, 134
do
15, 752
do
3,258
do __
6,243
do
3,680
do _.
2,571
205, 860
17, 276
3,537
6,913
4,015
2,811
17, 174
1,373
299
532
307
235
17,167
1, 253
261
492
296
204
17,114
1, 375
280
524
349
221?
17,205
1,469
285
571
358
255
17,298
1,478
297
596
362
223
17, 748
1, 553
325
614
383
231
22, 888
2,540
586
979
638
337
15, 549
1,224
272
480
273
199
14, 847
1,042
213
422
239
168
17,445
1,512
277
590
354
291
Durable goods stores 9
Automotive group
Passenger car other auto dealers
Tire, battery, accessory dealers
do
do
do
Nondurable goods stores 9
Apparel group
Men's and boys' wear stores
Women's apparel, accessory stores
Family and other apparel stores
Shoe stores
i 26, 286
r
8, 928 ' 9, 353 i 8, 734
' 5, 413 ' 5, 615 i 5, 108
' 5, 084 5,245
••329
370
1,245 ' 1,317
'781
805
'391
443
'1,115
'844
'271
1 1,312
1,177
891
286
16, 876 '17,629 '18,186
1,375
' 1, 439 ' 1, 485
282
'297
338
550
'575
560
307
'319
331
236
'248
256
117,552
1 1, 340
do
do
- - - do. _.
do
_ _ . do __
9,335
21, 423
66, 822
60, 970
21, 765
10, 148
23, 431
71, 125
65, 105
23, 012
829
2,071
5,979
5,464
2,002
828
2,219
6, 262
5,750
2,056
823
2,177
5,881
5,377
2,024
821
2,034
6,039
5,544
1,923
841
2,006
5,922
5,430
1,959
840
1,884
5, 755
5,279
1,922
1,195
2,039
6, 679
6, 134
1,972
837
1,845
5,548
5,092
1, 827
818
1,726
5,407
4,961
1,722
893
1,940
6,096
5, 596
1,901
851
1,991
5,810
5,348
1,940
'894
2, 093
5,888
5,391
2,034
'908
2,170
6, 272
5,744
2, 114
i 869
i 2, 259
i 6, 165
i 5, 645
1 2,214
General merchandise group 9
do
Department stores
do
Mail order houses (dept. store mdse.)_do__..
Variety stores
- do -Liquor stores
do
35, 840
23, 421
2,581
5,320
6,305
39, 811
26,094
2,691
5,727
6,758
3,208
2,141
192
454
543
2. 965
1,924
179
436
558
3, 259
2,110
229
465
539
3,274
2,158
218
462
551
3,375
2,221
232
467
551
3, 958
2,575
341
524
587
6,111
4,025
350
989
896
2,511
1,658
156
330
514
2,400
1,534
172
347
500
3,197
2,077
221
466
551
3,049
2,016
199
414
541
3,322
2, 194
208
'470
'572
3,475
2, 317
198
492
584
i 3, 120
i 2, 05(5
25, 918 '25,897 '26,478
1 26, 740
Drug and proprietary stores
Eating and drinking places
Food group
- -_
Grocery stores
Gasoline service stations
Estimated sales (seas, adj.), total f
do
25, 394
25, 362
25, 572
25, 703
25,550
25, 610
25,368
25,687
25, 470
25, 739
do
..do. ..
do
do__ _
8,056
4,771
4,479
292
8, 106
4, 764
4, 460
304
8, 358
4,959
4,658
301
8,394
5,034
4, 725
309
8,276
4,921
4,618
303
8,143
4,761
4,445
316
8,156
4,745
4,445
300
8,200
4,604
4,298
306
7,955
4,394
4,085
309
8,150
4,602
4,291
311
8,104
4,660
4,348
312
Furniture and appliance group 9
__do._-_
Furniture, homefurnishings stores
do _
Household appliance, TV, radio
do __
1,208
746
397
1,258
771
429
1,285
782
423
1,293
111
440
1,266
766
402
1,283
775
416
1,270
741
425
1,312
792
429
1,308
780
449
1,278
755
441
1,286
791
423
Lumber, building, hardware group
Lumber, bldg. materials dealers cf
Hardware stores
1,006
769
237
1,007
764
243
1,014
769
245
975
732
243
971
724
247
986
737
249
997
747
250
1,062
803
259
1,058
801
257
1,049
794
255
1,048
779
269
17, 338
1,460
295
583
341
241
17, 256
1,464
301
584
351
29 g
17,214
1,499
327
582
359
231
17,309
1,472
313
579
349
231
17,274
1,466
294
589
351
232
17, 467
1, 463
303
573
345
242
17, 212
1,386
282
536
335
233
17, 487
1,514
317
587
360
250
17, 515
1,476
304
576
357
239
17, 589
1,443
315
557
343
228
17,814 '17,710 '17,970
1,585 ' 1, 490 1,537
327
'317
333
'585
605
614
352
'342
384
253
'246
254
848
1,967
5,975
5,472
1, 927
844
1,996
5, 924
5, 436
1,918
837
1,«75
5,920
5, 426
1,906
860
1,975
5,947
5,446
1,931
859
1,974
5,949
5,452
1,926
876
1,979
5,921
5,437
1,939
892
2.019
5, 861
5.376
1,915
877
2,036
5,911
5,417
1,931
883
2,026
5,942
5,452
1,968
889
2,046
6,041
5, 535
1,964
921
'903
906
2,084
2,034 ' 2, 038
5,985 ' 5. 99(i 6, 0()3
5,513 ' 5, 507 5, 550
2, 019
1, 992 '1,996
3,355
2 214
219
487
572
3, 365
2, 201
234
481
549
3,332
2, 182
219
480
551
3,341
2,189
222
486
567
3,354
2,195
229
484
561
3,476
2,273
238
503
570
3,311
2,162
216
475
564
3,419
2,244
220
486
591
3,361
2,191
230
472
595
3,327
2,200
223
448
584
3,479
2,278
230
520
609
Durable goods stores 9
Automotive group
__ _
Passenger car, other auto, dealers
Tire, battery, accessory dealers
do
do -_
do_ _ _
Nondurable goods stores 9
-do
Apparel group
...
do__
Men's and boys' wear stores
do
Women's apparel, accessory stores .do
Family and other apparel stores
do._
Shoe stores
do
Drug and proprietary stores
Eating and drinking places
Food group
.
__
Grocery stores
Gasoline service stations
do _
__do
. do
do
do
General merchandise group 9 Department stores
Mail order houses (dept. store mdse.)
Variety stores
Liquor stores
do
_do
do
do
do
Estimated inventories, end of year or month: f
Book value (unadjusted), total t
mil. $._
Durable goods stores 9
do
Automotive group
do
Furniture and appliance group._do _
Lumber, building, hardware group. _ d o _ _ - .
Nondurable goods stores 9
Apparel group
Food group. .General merchandise group ...
Department stores
.do
do
do
.do _
do
1,306
'795
'420
1,299
776
454
' 1, 001 1,023
'750
760
'251
263
1 17, 955
' 3, 468 3, 596
' 2, 283 2, 372
215
228
'504
516
597
'598
33, 435
14, 737
7,070
2,390
2,386
35, 846
16, 144
7,938
2,512
2,401
36, 467
16, 967
8,420
2,623
2,567
36, 155
16, 690
8,074
2,635
2,499
35, 280
15,295
6, 669
2, 636
2, 492
35, 628
15,015
6,422
2,698
2,455
37, 193
15, 760
7,035
2,759
2,489
38, 171
16, 384
7, 615
2,775
2,492
35, 846
16, 144
7, 938
2,512
2,401
35, 856
16, 574
8,160
2,515
2,444
36, 349
16,681
8,255
2,518
2,410
37, 108
16, 855
8,221
2,548
2,471
37, 199
16,826
8,105
2,599
2,514
36,935
16, 695
7,966
2,606
2, 527
36, 337
16,295
7, 683
2, 594
2, 477
18, 698
3,811
4,066
5,882
3,519
19, 702
4,102
4,201
6, 425
3,919
19, 500
3,953
4,095
6,456
3,855
19, 465
3,984
4,090
6, 472
3,887
19, 985
4, 245
4,114
6, 680
4,019
20, 613
4,449
4,202
7,027
4,271
21, 433
4,575
4,310
7,523
4,608
21, 787
4,649
4, 258
7,671
4, 760
19, 702
4,102
4,201
6,425
3,919
19, 282
3,977
4,164
6, 309
3,793
19,668
4,222
4,129
6,460
3,891
20, 253
4,308
4,189
6,767
4,108
20, 373
4,314
4,167
6,833
4,123
20, 240
4,270
4,149
6,816
4,120
20, 042
4,131
4, 176
6, 693
4, 025
Book value (seas, adj.), total f
do
34, 607
36, 961 36, 325 36,312 36, 191
Durable goods stores 9
do .
15, 194
16, 536 16,411 16, 330 16, 079
Automotive group
do
7,244
7,697
7,536
8,108
7, 914
Furniture and appliance group
do
2,449
2,574
2, 667
2, 636
2,628
Lumber, building, hardware eroup. _do_
2.494
2.467
2.483
2. 512
2.484
' Revised.
> Advance estimate.
fRevised series. Data reflect use of new sample
(effective with data for Oct. 1965) based on definitions and classifications of the 1963 Census
of Business; the 1965-66 retail inventories also reflect incorporation of new data from 1965
Retail Trade (Census annual) and updating of seasonal factors. Latest revised data back
to 1959 appear in the November, April, and February 1966i issui
issues of the SURVEY (refer in
' 8, 187 ' 8, 508 i 8, 785
' 4, 752 5,043
' 4, 448 4,725
'304
318
36, 355 36, 680 36, 734 36, 961 36, 924 36, 644 26, 526 36, 236 36, 263 30, 087
16,241 16, 496 16, 581 16, 536 16, 491 16,315 16, 142 16, 033 15,904 15,661
7, 154
7,315
8,171
7,515
7,409
7,719
8,108
7,867
7,672
7,949
2,585
2, 586
2,656
2,561
2,568
2, 648
2,574
2,598
2,612
2, 666
2. 419
2.451
2.467
2. 522
2. 525
2.483
2.530
2.447
2.418
2.448
that order to pp. 26, 18, and 20, respectively); revised accounts receivable data prior to Oct.
1965 are not available. Complete details for retail sales appear in the Monthly Retail Trade
Report, Jan. 1966 and subsequent issues, available from the Bureau of the Census, Wash.
D.C. 20233. 9 Includes data not shown separately, cf Comprises lumber yards, building
materials dealers, and paint, plumbing, and electrical stores.
SURVEY OF CURRENT BUSINESS
S-12
Unless otherwise stated, statistics through 1964
and descriptive notes are shown in the 1965
edition of BUSINESS STATISTICS
1965
August 1967
1966
1966
Annual
June
July
Aug.
Sept.
1967
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
DOMESTIC TRADE—Continued
RETAIL TRADE— Continued
All retail storest— Continued
Estimated inventories, end of yr. or mo. f— Con.
Book value (seas, adj.)— Continued
Nondurable goods stores 9
mil. $
Apparel group
.
do
Food group ...
. _ do.
General merchandise group.
do
Department stores.
do
19,413
4,033
4,086
6,340
3,772
20, 425
4,318
4,209
6,909
4,200
19,914
4,144
4,099
6,690
4,041
19,982
4,194
4,148
6,681
4,062
20, 112
4,186
4,207
6, 708
4,060
20, 114
4,174
4,219
6,721
4,079
20,184
4,186
4,230
6,753
4,074
20, 153
4,230
4,150
6,745
4,111
20, 425
4,318
4,209
6,909
4,200
20,433
4, 343
4,248
6,951
4,240
20, 329
4,389
4,162
6,832
4,162
20, 384
4,369
4,156
6,895
4, 179
20,203
4,288
4,114
6,817
4,115
20, 359
4,335
4,149
6,900
4,174
20, 426
4,321
4,184
6,904
4,201
Firms with 11 or more stores:f
Estimated sales (unadj.), total 9 f
do
73, 356
80, 323
6,608
6,511
6,565
6,759
6,804
7,190
9,940
5,695
5,550
6,855
6,500
6,839
7,252
do
do
do
do
4,445
557
1,656
1,168
4,770
573
1,779
1,269
388
48
144
107
324
39
123
87
377
40
141
97
401
44
145
116
409
51
155
100
444
57
166
108
722
99
266
169
306
43
106
85
271
31
102
76
430
45
152
133
371
43
140
101
404
47
152
111
415
53
151
114
do
_ do
do
2,300
1,891
1,193
2,663
2,222
1,276
217
197
107
216
196
108
212
189
111
214
189
109
219
189
115
229
184
117
380
203
136
217
193
90
221
185
89
250
206
103
229
202
104
243
214
115
256
223
116
do
do
do
26, 112
17, 593
4,096
28. 988
19, 653
4, 593
2,361
1,629
363
2,168
1,474
342
2,383
1,605
371
2,388
1,632
371
2,468
1,687
377
2,886
1,947
429
4,440
2,987
809
1,822
1,256
266
1,720
1,146
278
2,324
1,561
383
2,237
1,533
341
2,432
1,667
388
2,559
1,767
407
27,627
29,906
2,441
2,630
2,414
2, 582
2,513
2,437
2,949
2,330
2,334
2,686
2,516
2,498
2,692
1,312
1,472
137
134
120
116
123
126
175
97
93
116
127
133
150
do
6,702
6,664
6,729
6,762
6,871
6,856
6,700
6,885
6,907
6,852
6,993
6,948
7,171
Apparel group 9
Men's and boys' wear stores
Women's apparel accessory stores
Shoe stores
do
do
do
do
402
48
149
108
386
47
144
103
405
51
147
103
395
50
144
104
406
49
155
106
406
49
151
112
397
48
141
109
421
52
154
112
418
46
160
109
372
47
138
98
438
50
165
121
407
47
151
109
424
52
155
112
Drug and proprietary stores
Eating and drinking places
Furniture and appliance group
do
do
do
224
187
222
182
223
175
225
183
227
185
237
191
242
206
240
213
254
214
253
209
245
205
252
209
261
209
General merchandise group 9
Dept stores excl mail order sales
Variety stores
do
do
do
2,430
1,652
385
2,425
1,643
377
2,417
1,650
380
2,444
1,665
388
2,495
1,664
390
2,552
1,725
411
2,403
1,638
388
2,513
1,730
402
2,471
1,685
387
2,449
1,671
369
2,528
1,683
420
2,482
1,710
417
2,627
1,774
422
Grocery stores
do
Lumber yards bldg materials dealers cf do
Tire, battery, accessory dealers
do
2,491
2,517
2,544
2,519
2,549
2,518
2,489
2,492
2,548
2,556
2,583
2,575
2,591
121
124
117
122
123
128
124
127
131
135
127
123
130
Apparel group 9
Men's and boys' wear stores
Women's apparel, accessory stores ._
Shoe stores
.
Drug and proprietary stores
Eating and drinking places.. _
Furniture and appliance group
General merchandise group 9 _
Dept. stores, excl. mail order sales
Variety stores
Grocery stores
do __
Lumber yards bldg materials dealersc^ do
Tire, battery, accessory dealers.
. do
Estimated sales (seas, adj.), total 9 1
All retail stores, accounts receivable, end of yr. or mo. :
Total (unadjusted) f
mil $
Durable goods stores
do
Nondurable goods stores
do
Charge accounts
do
Installment accounts
do
Total (seasonally adjusted)!
Durable goods stores
Nondurable goods stores
Charge accounts
Installment accounts
do
do
do
do
do
18, 193
7,120
11,073
8,269
9,924
18, 986
7,212
11, 774
8,164
10, 822
17, 774
7,163
10,611
8,236
9,538
17, 332
6,947
10, 385
7,847
9,485
17,480
7,059
10, 421
7,883
9,597
17, 420
6,975
10, 445
7,739
9,681
17,546
6,991
10,555
7,855
9,691
17,816
0,981
10 835
7,970
9,846
18, 986
7,212
11, 774
8,164
10, 822
18,167
6,954
11,213
7,630
10,537
17, 538
6,751
10, 787
7,338
10, 200
17, 656
6,766
10, 890
7,518
10, 138
17,814
6,875
10, 939
7,789
10, 025
'18,005
' 6, 943
'11,062
'r 8, 013
9, 992
18, 327
7,171
11,156
8,150
10, 177
17, 034
6,916
10, 118
7,833
9,201
17, 767
6,987
10, 780
7,730
10,037
17, 722
7,002
10, 720
8,151
9,571
17,482
6,778
10, 702
7,864
9,618
17, 695
6,867
10, 828
7,960
9,735
17, 592
6,817
10, 775
7,818
9,774
17, 578
6,775
10,803
7,807
9,771
17, 744
0. 905
10, 839
7, 834
9,910
17, 767
6,987
10, 780
7,730
10, 037
17,849
7,124
10,725
7,690
10,159
18, 007
7,144
10, 863
7, 721
10, 286
18, 159
7,129
11,030
7,804
10; 355
18,211
7,181
11, 030
7,920
10, 291
^17,926
' 6, 973
'10,953
' 7, 827
'10,099
18,221
7,001
11,220
8,007
10, 214
198. 61
198. 76
198. 94
EMPLOYMENT AND POPULATION
POPULATION
Population, U.S. (incl. Alaska and Hawaii):
Total, incl. armed forces overseas
mil
EMPLOYMENT
Noninstitutional population, est. number 16 years
of age and over, total, unadj©
mil
199. 12
1194.59
1 196. 92
196. 73
196. 92
197. 11
197. 32
197. 54
197. 74
197. 93
198. 11
198. 2 1
198. 43
129. 24
131.18
131. 08
131.24
131.42
131. 59
131.77
131.95
132. 12
132. 30
132.45
132. 63
132. 80
132. 97
133. 17
133. 37
79, 551
82, 464
82, 920
Total labor force, incl. armed forces©
thous._
77, 178
78, 893
80, 727
80, 838
80, 665
78,982
79, 488
79, 895
79, 642
78, 706
79, 107
78, 949
79, 560
Civilian labor force, total
Employed, total
Agricultural employment
Nonagricultural employment
do
do
do
do_ _
74, 455
71,088
4,361
66, 726
75, 770
72, 895
3,979
68, 915
77, 628
74,038
4,704
69,333
77, 703
74, 655
4,580
70, 076
77, 487
74, 666
4,308
70, 359
75,753
73,248
4,186
69,063
76,209
73, 744
4,114
69, 630
76, 573
73,995
3,814
70, 180
76, 252
73,599
3,360
70, 239
75,320
72, 160
3,335
68,826
75, 689 75, 513
72, 506 72,560
3,410
3,281
69,225. 69, 149
76, 111
73, 445
3,721
69, 724
76,095
73, 637
3,825
69, 812
79, 020
75, 391
4,395
70, 996
79, 471
76, 221
4,516
71,705
do
do
__ .
thous-_
do
3,366
755
4.5
52, 058
2,875
536
3.8
52, 288
3,591
462
4.6
50, 356
75, 668
3,048
2,821
2,505
2,466
2,577
3.9
50,397
75, 770
3.6
50,755
76, 069
3.3
52,609
76, 039
3.2
52, 285
76, 081
3.4
52, 054
76, 612
2,653
440
3.5
52, 479
76, 764
3,160
515
4.2
53, 589
77, 087
3,183
506
4.2
53, 341
77, 025
2,954
560
3.9
53, 678
76, 523
2,666
576
3.5
53, 234
76, 740
2, 457
464
3.2
53, 419
76, 189
3,628
426
4.6
50, 704
77, 237
3,250
364
4.1
50, 446
77,505
72, 730
3,981
68, 749
2,938
486
72,846
3,926
68,920
2,924
446
73, 141
3,935
69,206
2,928
462
73, 195
3,886
69, 309
2,844
493
73,199
3,779
69, 420
2,882
517
73, 897
3,892
70,005
2,715
484
73,893
4,011
69, 882
2,871
496
74, 255
4,015
70, 240
2,832
485
74, 137
3,890
70, 247
2,888
439
73, 747
3,855
69, 892
2,776
436
73, 910
3,890
70, 020
2,830
436
73, 289
3, 652
69, 637
2,900
414
74, 147
3,727
70, 420
3,090
444
74, 489
3,856
70,633
3,016
435
Unemployed (all civilian workers)
Long-term (15 weeks and over)
Percent of civilian labor force
Not in labor force©
Civilian labor force, seasonally adj©
Employed, total
Agricultural employment
Nonagricultural employment
Unemployed (all civilian workers)
Long-term (15 weeks and over)
do
do
.do. _
do
do
Rates: 5
3.9
3.9
3.8
All civilian workers. _ _
4.5
3.8
2.6
2.5
Men, 20 years of age and over
2.6
3.2
2.5
3.7
Women, 20 years of age and over
3.8
3.9
4.5
3.8
13.1
12.5
Both sexes, 16-19 years of age
13.0
14.8
12.7
r
Revised.
1 As of July 1.
fSee corresponding' note on p. S-ll.
9 Includes data not shown separately.
cf Comprises lumber yards, building materials dea ers. and f aint, pluinbing, a nd electr ical
stores.
^Unemployed in each group as percent of that g ^oup.
©Effective Feb. 1967 SURVEY, data reflect revise d seasona factors and chan^jes in co^fQTage. sample, and definition as follows: For all period s — data cover per so ns 16 yea rs of age md
3.9
4.0
3.8
3.7
3.6
3.7
3.7
3.7
3.5
3.7
3.8
2.4
2.6
2.4
2.3
2.3
2.4
2.2
2. 2
2.4
2.4
2.4
4.3
4.3
3.9
4.1
4^0
3.9
4.3
3.4
3.8
4.0
12.6
12.6
13.1
11.6
10.7
13.2
12.2
11.4
11.0
12.9
12.7
over ( eliminat ng abou t, a millio n person s previoiisly cove red); be£ginning J an. 1967-—sample
expan ded (to 52,500 ho useholds and ch angos mf ide in de finitions for eiiip oymont and unemplo yment ( iata are i easonabl y comparable wit h earlier estimate s) ; see F 3b. and ft lar. 1967
BLS1EMPLOY* [ENT ANE EARNIN GS AND IV toNTHLY REPORT ON THE IjABOR F(DRCE, U. 3. GPO,
Washi ngton, r .C. 2040f 2
SUEVEY OF CURRENT BUSINESS
August 1967
Unless otherwise stated, statistics through 1964
and descriptive notes are shown in the 1965
edition of BUSINESS STATISTICS
1965
Annual
S-13
1966
1966
June
July
Aug.
Sept.
1967
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July v
EMPLOYMENT AND POPULATION—Continued
EMPLOYMENT— Continued
Employees on payrolls (nonagricultural estab.):t
Total, unadjusted!
thous. _
60, 770
63, 864
64, 563
64, 274
64,484
64, 867
65, 190
65, 389
65, 904
64,334
64,286
64, 628
64,987
65,368 ' 66, 263
66, 061
18 032
10 386
7 645
19 081
11 186
7,896
19 258
11,319
7,939
19, 123
11,213
7,910
19, 391
11,249
8,142
19, 533
11,434
8,099
19, 538
11,470
8,068
19, 522
11,480
8, 042
19 430
11,446
7,984
19, 233
11,347
7,886
19, 196
11,320
7,876
19, 161
11,289
7,872
19 077 ' 19, 029 ' 19, 274
11 226 -11,210 '11,308
7 351 '7,819 ' 7, 966
19, 140
11,192
7,948
632
84
142
288
628
86
139
283
645
88
142
288
645
88
140
290
649
89
142
290
637
87
143
281
631
86
144
277
628
86
143
277
625
86
143
279
614
86
143
275
609
87
143
269
610
87
142
268
617
87
140
272
3,181
4,033
735
268
3,281
4,137
717
265
3,521
4,180
728
255
3,623
4,171
730
247
3,641
4,154
728
246
3,525
4,218
721
264
3,449
4,198
716
268
3,310
4,208
712
268
3,128
4,200
715
271
2,925
4,162
698
272
2,841
4,153
694
271
2,896
4,168
692
272
3,079
4,148
694
270
963
230
735
625
1,008
248
773
635
1,026
260
778
644
1,031
216
792
652
1,031
202
796
653
1, 046
262
786
641
1 , 046
264
785
633
1,045
266
790
632
1,031
269
791
633
1,000
274
793
633
994
278
797
633
1,000
282
801
634
960
286
802
635
1,023
290
803
'637
1,040
295
812
652
12, 683
3,317
9,366
3,019
9,098
10, 091
13, 220
3,459
9,761
3,086
9,682
10,850
13,239
3,473
9,766
3,112
9,702
10, 906
13, 225
3,511
9,714
3,148
9,782
10, 557
13, 224
3,521
9,703
3,146
9,772
10, 507
13,253
3,498
9,755
3, 109
9, 707
10, 885
13,385
3.521
9. 864
3, 099
9. 751
11.139
13,599
3,533
10,066
3,098
9, 739
11,285
14, 241
3,554
10,687
3,105
9,733
11, 442
13, 322 13, 205
3,509
3,496
9,813
9,709
3,114
3,095
9,750
9,672
11,311 11,418
13,317
3,504
9,813
3,137
9,841
11, 498
13, 394
3.517
9 877
3 160
9,985
11 527
'13,481
' 3, 521
'9,960
' 3, 180
'10,082
'11,548
'13, 639
' 3, 577
' 10, 062
' 3,229
'10,209
11,619
60, 770
18, 032
10, 386
226
610
429
627
1,296
63, 864
19, 081
11,186
256
622
456
641
1,326
63,983
19, 167
11,220
257
628
458
641
1,333
64, 072
19, 128
11,210
257
622
456
643
1,338
64, 199
19, 262
11,324
260
621
462
637
1,351
64, 168
19, 204
11,322
262
609
459
633
1,341
64, 466
19,312
11,387
265
€07
460
633
1,351
64, 823
19,415
11,424
269
607
463
636
1,351
65, 076
19,445
11,439
269
605
465
638
1,343
65,381
19, 468
11,445
276
620
460
642
1,341
65, 497
19, 402
11, 408
281
614
459
638
1,322
65,600
19, 355
11,375
283
617
454
637
1,306
Fabricated metal products
do
Machinery
._
__ _ _
do
Electrical equipment and supplies. _ .do
1,268
1,726
1,658
1,352
1,868
1,893
1,348
1,865
1,904
1,346
1,888
1,903
1,360
1,901
1,948
1,357
1,903
1,941
1,365
1,912
1,962
1,378
1,917
1,959
1,379
1,933
1,959
1,380
1,941
1,964
1,374
1,935
1,967
1,372
1,932
1,954
65, 476 '65,428 65, 687 65, 882
19, 224 '19,127 ' 19, 189 19,147
11,250 '11,203 '11,212 11,191
285
' 288
287
285
'592
'600
595
602
'446
449
443
450
621
619
' 621
625
'
1,277
'
1,
276
1,280
1,280
1,350
1,358 '1,349 '1,359
1,931
1,923 '1,917 '1,920
'1,877
1,909
1,902
1,924
Transportation equipment.- _ __
do__
Instruments and related products. _.do
Miscellaneous manufacturing ind
do
1,738
387
421
1,906
426
440
1,915
428
443
1,888
430
439
1,910
431
443
1,945
432
440
1 , 951
439
442
1,960
439
445
1,958
444
446
1,927
446
448
1,928
448
442
1,930
450
440
7,645
1,752
87
921
1,354
640
981
906
182
472
351
632
3,181
4,033
12, 683
3,019
9,098
10,091
7,896
1,761
84
951
1,396
671
1,026
954
183
513
357
628
3,281
4,137
13, 220
3,086
9,582
10, 850
7,947
1,760
86
957
1,424
674
1,026
961
183
515
361
632
3,300
4,143
13,217
3,090
9,549
10, 885
7,918
1,763
85
955
1,388
679
1,031
963
186
518
350
636
3,297
4,122
13,256
3,095
9,609
10,929
7,938
1,765
80
957
1,395
677
1,035
968
184
520
357
636
3,251
4,105
13, 264
3,100
9,647
10, 934
7,882
1,737
79
952
1, 390
670
1, 035
965
182
517
355
628
3, 228
4,168
13, 268
3, 100
9,649
10,923
7. 925
1,750
78
950
1.403
676
1 , 039
969
182
523
355
625
3, 202
4, 165
13,340
3, 102
9,712
11,008
7,991
1,781
87
950
1,406
682
1,044
974
183
529
355
624
3. 204
4, 195
13.393
3,110
9,778
11,104
8,006
1,781
86
951
1,409
683
1,049
976
183
534
354
626
3, 293
4,196
13,392
3, 121
9, 821
11,182
8,023
1,780
89
951
1,415
683
1,056
981
182
533
353
628
3,301
4,230
13, 503
3,129
9,869
11,253
7,994
1,781
84
942
1,399
686
1,060
981
182
530
349
626
3,350
4, 225
13, 524
3,142
9,919
11, 309
7,980
1,787
85
941
1,380
688
1,068
978
181
528
344
627
3,321
4,223
13, 547
3,159
9,981
11,387
Manufacturing establishments _
do
Durable goods industries
_.
do _
Nondurable goods industries. _ _ ... _.do ._
Mining, total 9
Metal mining
Coalmining
._ _ _ _
Crude petroleum an d natural gas
do
do
_ .do
do
Contract construction.._ _ .do __
Transportation and puMic utilities 9
do _
Railroad transportation
do
Local and interur ban passenger transit., do
Motor freight trans and storage
Air transportation
Telephone communication _
Electric gas and sanitary services
do
do
do
do
Wholesale and retail trade
do
Wholesale trade..- _ _
.. .. _do ._
Retail trade
do
Finance, insurance, and real estate
do
Services and miscellaneous
do
Government
do
Total, seasonally adiustedt
- - -.do _ _
Manufacturing establishments
do
Durable goods industries
- __.
do
Ordnance and accessories .
. . do
Lumber and wood products
do
Furniture and fixtures _. -do
Stone, clay, and glass products
.do
Primary metal industries
do
Nondurable goods industries
do
Food and kindred products
do
Tobacco manufactures.. _ do_.
Textile mill products
do
Apparel and related products
do
Paper and allied products
_ do___
Printing, publishing, and allied ind._do
Chemicals and allied products
do
Petroleum refining and related ind ..do
Rubber and misc. plastics products. _ do
Leather and leather products
do
Mining
_ .
_ __
do
Contract construction ._ _ _ _ _
_ do
Transportation and public utilities
do
Wholesale and retail trade
do
Finance, insurance, and real estate
do
Services and miscellaneous.
.
do_.
Governmentdo
Production workers on mfg. payrolls, unadjusted:!
Total, unadjusted*
thous..
Seasonally adjusted
do
Durable goods industries, unadjusted. .do
Seasonally adjusted
do
Ordnance and accessories-—
do
Lumber and wood products..
- do
Furniture and fixtures _ _
do
Stone, clay, and glass products
_do__ _
Primary metal industries
do _._
Blast furnaces, steel and rolling mills do
Fabricated metal products.
do
Machinery
do
Electrical equipment and supplies
do
Transportation equipment 9
. do_ .
'622
88
'142
270
'636
90
144
277
637
' 3, 201 '3,382
' 4, 225 ' 4, 275
696
706
'272
264
3, 520
4,307
1,914 ' 1,922 '1,938
'449
447
449
'437
'438
440
7,974
1,776
86
935
1,389
685
1,067
979
182
527
348
623
3,251
4,186
13, 584
3,173
10, 005
11,430
7,924 ' 7, 977
1,778 '1,783
87
87
'938
'929
'1,396 '1,403
' 694
683
' 1,066 ' 1,071
'987
'978
'184
'183
'486
'478
'344
'346
'624
'620
' 3, 163 ' 3, 170
' 4, 242 ' 4, 237
' 13, 597 '13,615
' 3, 186 ' 3, 207
'10, 022 '10,048
'11,471 '11,597
13,612
3,604
10, 008
3, 268
10,306
11,271
1,903
452
427
7, 956
1,780
88
935
1,383
695
1,072
992
186
489
336
628
3,203
4, 256
13, 643
3,213
10, 124
11,668
14,417 14,582 14,581 14,548 14, 440 14,233 14, 180 14,128 14, 030 ' 13, 984 ' 14, 184 14,015
14, 330 14,268 14 350 14 436 14, 446 14, 453 14, 370 14,297 14, 162 ' 14, 065 '14,115 14, 058
8,333 8,292
8,501
8,372
8,304
8,221 '8,211 ' 8, 289 8, 155
8,482
8,301
7,702
8,530
8, 527
8,417
8,462
8,395
8,369
8,395
8,238 ' 8, 196 ' 8, 200 8,173
8,471
8, 442
8 467
r 145
144
'142
127
141
143
123
142
138
135
96
120
129
133
540
' 545
' 517
509
509
509
570
553
510
516
544
535
541
532
'
367
361
365
374
387
388
377
371
366
356
386
378
388
390
508
' 508
495
533
526
481
487
486
492
500
504
515
512
517
1,037
1,038 ' 1,045
1,068
1,100
1,095
1,077
1,057
1,042
1,077
1,058
1,080
1, 080
1,083
448
444
477
482
455
451
449
445
455
477
467
462
467
1,035
1, 071
1,063
1,057
1,048
1,058
1,043 '1,043 ' 1,064
1,079
1,052
982
1,084
1,077
1,340
1,332
1,362
1,325
1,364
1,356 ' 1,345 ' 1,349
1,363
1,357
1,314
1,208
1,333
1,333
1,265
'
1,256
1,272
1,366
1,347
1,324
1,345
1,290
1,361
1,374
1,316
1,140
1,385
1,380
1,309
1,376
1,215
1,393
1,382
1,370
1,354 '1,368 '1,377
1,425
1,238
1,355
1,414
1,424
7(\o
7QO
(\QR
646
643
692
fifin
519
659
7O9
651
628
669
671
496
503
494
488
458
468
492
488
493
492
357
476
448
486
438
Aircraft and parts
do
285
284
282
280
279
285
286
285
286
286
284
247
274
282
277
Instruments and related products
do
330
'348
'343
372
333
335
367
340
330
348
337
352
376
378
358
Miscellaneous mfg. industries.
do
5, 860
5,809 ' 5, 773 ' 5, 895
5,861
5,847
5,836
5,958
5,932
0, 021
5,711
6,113 6, 081
6. 051
5,898
Nondurable goods industries, unadj
do
5, 924 ' 5, 869 ' 5,915
5,991
5,953
5,928
5,975
5, 969
5,953
5,935
5,873
5, 908
Seasonally adjusted
do
1,214
'
1,
169
'
1,117
1,098
1,117
1,099
1,101
1,166
1,244
1,209
1,155
1,152
1,291
1,284
1,166
Food and kindred products
do
64
64
63
64
69
76
65
80
75
76
82
82
79
71
63
Tobacco manufactures.. _ _ do
823
' 840
'825
830
835
828
832
854
851
845
823
862
856
848
862
Textile mill products
do
1,191
1,233
1,249
1,217 ' 1,222
1,233
1,238
1 , 1200
1,245
1,257
1.263
1,205
1,265
1.240
1,258
Apparel and related products
do
537
544
'526
526
526
526
528
534
532
534
529
498
526
522
530
Paper and allied products... _ _
do
674
'676
'672
670
675
666
675
664
666
671
661
622
658
652
653
Printing, publishing, and allied ind. .do
586
' 586
'583
588
577
578
580
576
575
584
577
576
545
570
580
Chemicals and allied products . _ -do
'
118
' 114
113
111
111
111
114
115
118
116
113
112
114
117
Petroleum refining and related ind. -.do
92
89
'91
89
89
89
88
89
89
89
89
90
88
89
90
Petroleum refining
do
361
' 366
'357
405
410
406
416
419
406
420
409
415
367
400
400
Rubber and misc. plastics products. _do
290
'299
'293
294
305
304
299
312
310
310
320
312
308
313
Leather and leather products
..do
318
letin 1312-4, Employment and Earnings Statistics for the United States 1909-66 (Oct. 1966)
' Revised.
p Preliminary.
$4
50,
available
from the Superintendent of Documents, Government Printing OfTicc
!Beginning in the Sept. 1966 issue of the SURVEY, data for employment, hours, earnings,
Washington, D.C. 20402.
and labor turnover reflect adjustment to Mar. 1965 benchmarks; they are not strictly com9 Includes data for industries not shown separately
parable with previously published figures. Details of the adjustment appear in the BLS
Sept. 1966 Employment and Earnings report; comparable earlier data appear in BLS Bul-
13,413
14, 199
14,351
14,281
8,419
8,328
119
574
380
530
1,108
487
1,061
1,326
1,322
1,363
14, 159
14, 201
8,277
8,293
120
568
374
533
1,102
490
1,035
1,324
1, 302
1,299
609
452
275
344
5, 882
5, 908
1,200
62
844
1,198
528
653
578
118
90
395
306
SURVEY OF CURRENT BUSINESS
S-14
Unless otherwise stated, statistics through 1964
and descriptive notes are shown in the 1965
edition of BUSINESS STATISTICS
1965
1967
1966
1966
June
Annual
August 1967
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July f
EMPLOYMENT AND POPULATION—Continued
i
EMPLOYMENT— Continued
Miscellaneous employment data:
Federal civilian employees (executive branch) :
United States
_.thous__
Wash., D.C., metropolitan area
do
2,347
251
2,532
265
2,560
274
2,598
277
2,598
276
2, 556
269
2,579
270
2,608
272
i 2, 736
1273
2,609
272
2,620
273
2,636
275
2,650
275
2,657
277
2,732
292
Railroad employees (class I railroads):©
Total
do
Index, seasonally adjusted
1957-59=100..
652
73.4
640
72.4
652
72.2
655
72.7
652
73.0
643
73.1
639
73.4
636
74.4
636
74.7
623
69.3
618
69.5
J>617
69.8
p618
P69.9
P636
P69.7
p631
»70.1
144.3
136.3
97.0
156. 7
150.4
101.3
171.1
152. 5
106.5
180.3
148.6
105.2
180.8
151.9
106.2
177. 0
156.7
105. 4
173.0
156.9
105. 2
155. 7
156. 4
102. 0
150.3
155.8
103.1
139.5
152.1
100.9
129.6
149.4
97.6
135.3
150.0
98.3
145.9
148.9
101.6
41.2
41.3
3.6
42 0
3.9
42.1
41.0
41.0
3.8
41.6
41.8
4.1
41.4
41.4
4.0
42.0
42.1
4.3
41.5
41.5
4.2
42.3
42.3
4.6
41.4
41.3
4.1
42. 2
49 2
4.' 5
41.3
41.3
3.9
42.1
42.1
4.2
41.3
40.9
3.7
42.1
41.7
4.1
40.8
41.0
3.4
41.5
41.8
3.7
40.1
40.3
3.2
40.7
40.9
3.4
40.3
40.4
3.2
40.9
41.0
3.3
40.2
40.5
3.1
40.8
40.9
3.2
40.4
40.4
'3.2
41.1
41.0
3.3
40.5
40.2
3.3
'41.2
'40.9
'3.4
40.3
40.3
3.1
40.9
41.1
3.2
INDEXES OF WEEKLY PAYROLLS!
Construction (construction workers)!. 1957-59=1 00. .
Manufacturing (production workers)!
do
Mining (production workers) t do, _ _
' 155. 4 169.5
149.9 ' 152. 9
' 102. 4 ' 106. 7
182.1
150.3
109.1
HOURS AND EARNINGS!
Average weekly gross hours per production worker
on payrolls of nonagric. estab., unadjusted:!
All manufacturing estab., unadj.t
hours. .
Seasonally adjusted
do
Average overtime.
do_.
Durable goods industries
do
Seasonally adjusted
do
Average overtime. _ _ _ _ _ _
_ do___
3.9
4.3
41.6
41.3
4.0
42 3
42.0
4.4
Ordnance and accessories
do
Lumber and wood products _ _
do__
Furniture and
fixtures
do
Stone, clay, and glass products
do
Primary metal industries
_ _
do_.
Blast furnaces, steel and rolling mills. _ do. _ _ ^
41.9
40.8
41.5
42.0
42.1
41.0
42.3
40.8
41.4
42.0
42.1
40.7
42.2
41.2
41.8
42.5
42.4
41.3
42.1
40.9
40.7
42.0
41.6
41.1
42.0
40.9
42 2
42! 4
42.1
40.9
42.4
40.7
41.8
42.2
42.4
41.2
42.3
40.7
41.9
42. 2
42.0
40.5
42.7
40.0
41.4
41.8
41.9
40.2
42.7
39.9
41.5
41.6
41.6
39.5
42.4
39.9
40.1
41.2
41.8
40.6
41.5
39.5
39.7
40.5
40.9
39.7
41.6
40.1
39.7
40.9
40.9
40.0
41.4
40.4
39.5
41.3
40.5
39.6
41.9
'40.4
39.5
41.5
40.8
'39.9
'41.3
40.8
'40.2
41.7
41.0
39.8
42.1
40.3
39.7
41.3
40.6
Fabricated metal products
Machinery
Electrical equipment and supplies
42.1
43.1
41.0
42.4
43.8
41.2
42.7
44.1
41.3
41.9
43.1
40.5
42.4
43.5
41.1
42.9
43.9
41.4
42. 7
43.7
41.3
42.3
43.7
41.1
42.5
44.0
41.2
41.8
43.5
40.6
41.1
43.0
39.8
41.2
43.1
39.9
41.2
42.8
39.5
'41.5
42.5
39.9
41.5
' 42. 2
'40.1
41.1
42.1
40.2
42.9
44.2
42.0
41.4
39.9
42.6
42.8
43.3
42.0
40.0
42.5
42.3
43.4
42.2
40.1
41.8
41.3
43.1
41.6
39.2
42.1
41.6
43.4
41.7
40.1
42.6
42.9
43.1
42.2
40.0
43.0
43.5
43.0
42.1
40,4
42.8
43.1
43.3
42. 0
40.2
42.5
42.7
42.9
42.1
40.0
41.6
41.0
42.7
41.5
39.6
40.3
39.2
42.2
40.8
38.7
40.5
38.8
42.8
41.3
39.3
40.5
38.9
42.7
41.1
39.3
Ml. 7
'41.3
42.9
41.0
'39.3
'41.5
41.1
41.1
42.8 ""42." 6
41.1
40.9
'39.4
39.1
do_ _
do
do _
Transportation equipment 9 _.
do
Motor vehicles and equipment _ . _ do. _
Aircraft and parts _
do, __
Instruments and related products
do
Miscellaneous mfg. industries
_ ..do___
39.4
39.6
39.7
40.2
40.3
39.2
40.3
39.3
40.5
39.6
40.5
40.3
40.1
40.1
40.2
39.4
Nondurable goods industries, unadj
do
39.5
39.4
39.4
40.2
40.2
40.2
39.5
39.7
40.2
39.9
40.0
40.3
40.1
Seasonally adjusted
do_ .
39.6
3.0
'3.0
3.1
3.4
3.7
3.6
2.9
2.9
3.5
3.3
3.0
3.4
3.5
3.5
3.2
Average overtime
do
2.9
41.2
40.6
'40.9
41.3
41.3
41.8
41.5
41.3
40.8
41.2
40.3
40.1
41.2
41.9
Food and kindred products ._
do,__
41.1
40.5
'38.1 '39.5
38.1
39.2
38.5
40.1
38.6
40.5
37.8
36.0
38.5
38.1
37.9
37.6
38.8
37.4
Tobacco manufactures
do
40.5
'40.7
40. 2
41.4
41.9
41.6
40.2
42.1
40.6
40.1
42.6
41.1
41.5
41.8
41.9
40.2
Textile mill products
do
36.0
35.9
'35.8
36.4
35.7
36.6
35.9
36.9
36.2
36.1
35.7
36.7
36.4
36.4
36.3
Apparel and related products . _ _ do__
35.9
'42.5
42.7
'42.8
43.7
43.5
43.5
42.2
43.6
43.3
42.3
43.7
42.8
43.4
43.1
43.5
Paper and allied products
__do
42.6
38.2
38.3
'38.3
38.9
39.1
38.4
39.1
38.9
39.0
38.5
38.3
39.1
38.6
38.8
38.8
Printing, publishing, and allied ind
do
38.6
'41.5
41.4
42 2
42. 1
42.1
41.9
41.8 '41.4
42.2
41.5
41.2
42.1
41.9
42.1
42.0
Chemicals and allied products
do
41.7
' 42. 8 43.2
'42.9
42.4
4'I 4
42.8
42.9
41.4
42.1
41.8
42.8
42.1
42.4
42.2
43.0
42.4
Petroleum refining and related ind
do
42. 5
'42.7
'42.2
42.4
41.7
42.8
42.
0
42.1
41.5
41.4
42.1
42.1
42.1
42.4
Petroleum refining
do _
41.8
42.5
42.0
'41.3
40.1
'40.8
42.3
42. 2
41.9
42.0
40.5
40.7
41.9
41.3
42.0
Rubber and misc. plastics products _ do
42.0
41.3
40.8
'37.4
'38.3
38.
G
38.4
37.8
38.1
39.2
39.1
38.8
36.6
38.7
37.5
38.6
Leather and leather products
do
38.2
39.0
36.9
Nonmanufacturing establishments:!
43.4
42.2
'42.4
'42.9
43.2
43.0
43.0
42.5
42.3
43.4
41.6
42.3
42.3
42.7
43.1
Mining9 __ __ _ _
_ . _ _ do...
41.8
42.0
42.1
42.3
42.7
42. 1
42.2
42.4
42.3
42.5
42.7
42.6
41.6
42.2
42.7
Metal mining
do
42.6
39.3
41.5
40.7
42. 2
40.8
41.8
39.8 '40.1
41.8
« 39.9
40.9
39.6
Coalmining
___ __
do__.
•40. 3
39.4
42.2
42. 5
42. 5
42.5
42.5 '42.3
42.6
42.2
42.0
42.7
42.5
42.4
42.6
42.3
Crude petroleum and natural gas
_ _ . do_ _ _
43.1
38.7
36.3
37.2
'38.1
38.5
38.3
38.4
36.9
38.3
37.2
37.1
35.8
37.6
Contract construction... _ _ . _ _ _
do
37.4
39.0
36.7
36.8
35.3
36.0
36.9
36.7
36.8
36.3
36.6
36.3
35.0
36.0
36.1
36.3
37.1
General building contractors
do
35.8
38.7
42.0
'40.2
42. 5
42.3
42.2
39.4
42.5
39.8
41.0
39.6
38.9
43.4
40.8
Heavy construction
_
do
39.8
37.3
36. 0
36.7
37.5
37.7
37.7
37.5
36.9
36.5
37.0
36.8
35.3
36.8
38.1
Special trade contractors
_
_ do...
36.2
Transportation and public utilities:
42. 5
42.6
'42.5
42.8
42.1
42.4
43.0
41.5
41.8
41.8
42.1
41.5
42.3
Local and suburban transportation
do
42.6
41.7
42. 5
42.8
42.9
'41.8
43.1
43.1
43.1
38.2
42.8
41.8
42.5
41.5
42.5
42.9
Motor freight transportation and storage, do
41.7
41.5
39.3
40.9
40.8
40.7
40.7
39.9
39.5
39.8
39.1 '38.9
40.4
40.6
41.2
Telephone communication
do
38.8
41.7
41.4
41.9
'41.2
41.4
41.5
41.2
41.7
41.6
41.3
41.4
41.3
41.5
42.1
Electric, gas, and sanitary services
do
41.3
36.6
36.8
36.2
'36.8 ~ 37.5
37.0
37.9
37.3
36.2
37.1
36.3
37.7
37.1
36.5
Wholesale and retail trade _
_ _ do_ _
38.0
36.3
40.6
! 40.7
'40.4
40.7
40.7
'40.3
40.8
40.7
40.3
40.3
40.9
40.8
40.6
40.7
41.1
40.4
Wholesale trade
do
36.4
35.2
35.7
35.5
35.8
34.9
36.9
36.2
34.9
35.9
34.9
36.6
35.1
35.9
Retail trade __ _ .
___
- -.do, _
36.9
35.0
Services and miscellaneous:
36.7
'36.4
36.9
36.5
36.6
36.7
36.7
36.8
37.2
36.8
38.0
37.1
37.9
37.3
Hotels, tourist courts, and motels
do_ _ 1
38.1
37.9
37.3
36.7
37.5
38.1
37.6
37.2
37.8
38.2
38.2
38.2
38.6
|
38.8
38.2
Laundries, cleaning and dyeing plants. _ _ do
38.6
i
Average weekly gross earnings per production
worker on payrolls of nonagric. estab.:!
112.44 112. 56 113. 52 113.81 113.24
107. 53
111.92 112.74 111.11 111.78 113.71 113.85 113.99 114. 40 113.42 111.48
All manufacturing establishments !
dollars
120.47 121.06 121.18 122. 48 '123.19 122. 29
117.18
121.67 121. 82 119. 81 120. 54 123. 94 124. 07 123. 77 124. 20 122. 43 134.05 133.
Durable goods industries
do
95 133. 31 ' 134. 50 ' 133. 40 135. 98
138.
78
137.
80
137.92
131.57
135. 36 134. 20 133. 88 134. 82 136. 95 136. 63
Ordnance and accessories
do
97.53
94.94 ' 95. 75 98.33
91.64
93.03
90.97
91.37
92. 00
93.66
94. 83
94.83
94.07
93.94
88.54
92. 62
Lumber and wood products.
_ do_ .
90.85 ' 92. 46 91.31
89.72
90.46
90.52
93.79
90.63
92.
74
93.
86
89.13
93.
21
93.26
91.96
87.98 i 91. 08
Furniture and
fixtures
do_ 19 113.70 115. 23 116. 62 '117.18 116. 47
114. 24 115.60 113. 82 115.75 116.05 116.47 115.79 115.23 113.71 112.
Stone, clay, and glass products. __ _ do_ _. 110. 04
134. 64 ' 136. 12 134. 39
Primary metal industries
do
138. 09 139. 50 136. 86 138. 09 140. 77 139. 02 138. 69 137. 28 138. 36 134. 97 135. 38 133. 25
1 133. 88
122. 84 122. 07
'122.84
120.42
121.13
120.
72
124.
53
122.
47
! 116.20
Fabricated metal products
do
121. 69 121.70 119. 42 121. 26 124. 84 124.26 123. 09
135.88 136. 20 134. 82 134. 30 ' 133. 77 133. 46
Machinery
_ _ _ _ _ _
do
134. 90 135. 83 131.89 133. 55 136. 53 136. 34 136.78 138. 60 137. 03 107.86
I 127. 58
111.35
'111.08
109.73
107.
84
108.
13
Electrical equipment and supplies . .do
108. 77 108. 62 106. 11 107. 68 110.12 109.86 109.74 110. 42 109. 21
| 105. 78
21 136. 49 137. 30 ' 142. 20 '141.93 140. 56
Transportation equipment.- ._ _ _ .do, .. 137. 71 ! 141.86 140. 25 137. 94 139. 35 144. 84 146. 63 145. 52 144. 93 141.44 136.
114. 80 '115.49 114.93
Instruments and related products
do
108. 47 ; 113.40 113.94 111.90 112. 17 114.78 114.93 114.66 115. 78 114.13 113.02 114. 40 114.26
91.57 '91.57 '91.80 1 90. 32
90.17
91.96
91.20
91.87
89. 20
86.24 ! 88. 22
90. 09 i 90. 45
88. 62
Miscellaneous mfg. industries
_ . do _
85. 39 ; 88. 80
usted for
r
more annual i ailway c perating revenue s). The index (t ack to 1963) has been ad
Revised.
p Preliminary.
« Average for 11 Tionths.
1
comp arability , whereas the nurnber of e mployees, has not
Includes Post Office employees hired for the Cl ristmas s 3ason; the re were ibout 1241,000
ot
shown
istries
n
for
indi
les
data
9Incluc
!Se e corresp onding note, bo ttom p. S-13.
such employees in the United States in Dec. 1966.
separ ately.
©Effective Jan. 1965, data reflect change in defin ition of cl ass I railr oads (to $5 millio n or
SURVEY OF CUREENT BUSINESS
August 1967
Unless otherwise stated, statistics through 1964
and descriptive notes are shown in the 1965
edition of BUSINESS STATISTICS
1965
S-15
1967
1966
1966
i
Annual
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July p
EMPLOYMENT AND POPULATION—Continued
HOURS AND EARNINGS!— Continued
Average weekly gross earnings per production
worker on payrolls of nonagric. estab.f— -Con.
All manufacturing establishments! — Continued
94.64
Nondurable goods industries. _
dollars .
99.87
Food and kindred products _
do
79.21
Tobacco manufactures .
do
78.17
Textile mill products .
do
66.61
Apparel and related products
do
114.22
Paper and allied products
do
Printing, publishing, and allied ind
do
118. 12
Chemicals and allied products
do
121. 09
138. 42
Petroleum refining and related ind
do
109. 62
Rubber and misc. plastics products
do
71.82
Leather and leather products
do
Nonmanufacturing establishments:!
123. 52
Mining 9
do
Metal minin01
do
127. 30
Coal mining
do
137. 45
116.18
Crude petroleum and natural gas
do
Contract construction
do
138. 01
General building contractors.
do
128. 16
Ileavv construction
do
137. 90
Special trade contractors
do
144. 99
Transportation and public utilities:
Local and suburban transportation
do
108. 20
130. 48
Motor freight transportationandstorage.do
Telephone communication
do
109. 08
Electric, gas, and sanitary services
do
131. 24
Wholesale and retail trade
do
76.53
Wholesale trade .
do
106. 49
Retail trade
do
66.61
Finance, insurance, and real estate:
Banking
do
79.24
Insurance carriers
do
95.86
Services and miscellaneous:
Hotels, tourist courts, and motels
do
51.17
Laundries cleaning and dyeing plants - . do
58.98
Average hourly gross earnings per production
worker on payrolls of nonagric. estab.:!
All manufacturing establishments!
dollars,.
2.61
Excluding overtimed"
do
2.50
Durable goods industries 1
do
2.79
2.67
Excluding overtimed -do
Ordnance and accessories
do
3.14
Lumber and wood products
do
2 17
Furniture and fixtures
do
2.12
Stone, clay, and glass products
do
2.62
Primary metal industries
do
3.18
Blast furnaces, steel and rolling mills, .do
3.46
Fabricated metal products. ._
do
2.76
Machinery...
do
2 96
Electrical equipment and supplies
do
2.58
Transportation equipment 9 .
do
3.21
Motor vehicles and equipment
do
3.34
Aircraft and parts.
do
3.14
Instruments and related products
do
2.62
2 14
Miscellaneous mfg. industries
do
Nondurable goods industries.
do
2 36
2 27
Excluding overtimed"-do
Food and kindred products
do
£43
Tobacco manufactures ._
do
2.09
Textile mill products
do
1.87
Apparel and related products
do
1.83
Paper and allied products
do
2 65
Printing, publishing, and allied ind
do
3.06
Chemicals and allied products .
do
2.89
Petroleum refining and related ind
do
3.28
Petroleum refining
do
3.47
Rubber and misc. plastics products
do
2.61
Leather and leather products
do
1.88
Nonmanufacturing establishments:!
Mining9
do
2 92
Metal mining
do
3.06
a
Coal mining
do
3. 45
Crude petroleum and natural gas
do
2.74
Contract construction..
do
3.69
General building contractors
. do
3.55
Heavy construction
do
3.38
Special trade contractors
do
3.94
Transportation and public utilities:
Local and suburban transportation
do
2.57
3.07
Motor freighttransportationandstorage. do
Telephone communication
do
2. 70
Electric, gas, and sanitary services
do
3.17
Wholesale and retail trade
do
2.03
Wholesale trade...
do
2.61
Retail trade.
do
1. 82
Services and miscellaneous:
Hotels, tourist courts, and motels
do
1.35
Laundries, cleaning anddyeingplants...do
1.52
r
a
Revised.
"Preliminary.
Average for 11 n lonths.
tSee corresponding note, bottom p. S-13.
98.49
103. 82
84.97
82. 12
68. 80
119 35
122. 61
125. 46
144. 58
111.72
74.88
99.23
104. 24
88.55
84.35
68. 63
120. 18
122. 54
125. 76
145. 95
111.30
76.05
99.14
105. 59
87. 23
81. 76
67.88
120. 50
121.83
126. 00
147. 06
110.27
74. 49
99.23
103. 34
82. 68
83.36
70.11
120. 77
122. 85
125. 70
142. 72
111.04
75.85
99.54
104.92
83.41
83.38
67. 83
121.92
125. 12
127. 14
146.80
114.21
74. 09
99. 94
104. 08
81. 93
83. 20
70.64
121.37
125. 51
127. 56
145.43
113.52
74.68
100. 10
104. 90
81.24
83. 21
70. 25
121. 37
124.87
128. 29
146. 70
112.98
76. 03
100. 25
106. 14
88. 29
82. 20
69 87
120. 81
125. 51
127. 98
145. 67
112.71
76. 82
99.40
106.08
83.16
81.61
70.40
119.84
123. 59
126. 16
144. 90
111.51
77.79
99.18
105. 18
82.08
80.60
71.04
118. 44
123. 33
125. 25
147. 97
108. 95
76.13
100. 08
106. 52
87.52
80.80
71.80
119. 71
124.68
127. 19
150. 94
110. 16
75.65
100. 22
106. 27
91.10
81.20
72.16
119. 00
124. 03
127. 49
153. 15
109. 89
75.40
100. 47 101. 63
'107.59 '107.98
' 90. 30 ' 94. 41
81.81 ' 82. 21
71.80 ' 71. 96
'119.85 '122.41
124. 48 ' 124. 86
'127.10 '128.65
'153.58 '152.80
'106.90 '108.62
' 77. 42 ' 79. 28
101. 77
108. 36
90.68
81.20
72.36
122. 98
124. 53
129.17
155. 52
105. 46
79. 13
130. 24
133. 77
145. 86
122. 26
145. 51
135. 76
145. 14
152.44
132. 80
134. 93
153. 41
121. 70
146. 69
135. 05
150. 45
153. 38
131.46
135. 79
145. 70
123. 70
150. 15
137. 27
154. 07
156. 59
131.58
134. 62
149.33
121. 84
149. 38
138. 00
152. 34
155. 70
133.73
136. 64
151. 00
123. 68
151.67
140. 56
156. 09
157. 88
134.78
135.14
156.98
123.68
152. 08
141.70
155. 55
157.96
131.66
135. 24
146. 20
124. 53
143. 39
136. 26
138. 16
151.20
133. 45
136. 53
155. 91
124. 49
148. 06
140. 84
141. 29
155.72
133. 67
136. 32
153. 38
127. 08
148. 77
140. 48
142. 16
156.77
131. 04
136. 00
145. 73
126. 42
142. 84
135. 10
138. 87
150. 38
132. 09
137.60
145. 39
127. 32
146. 07
138. 55
138. 50
153. 85
134. 51
137. 05
148. 45
129. 20
146. 86
138. 60
139. 08
155. 49
'134.41 '136.42
135. 98 137. 90
'148.37 153. 97
'127.75 127. 02
149. 17 '152.78
'140.40 142. 05
'143.92 154. 14
'157.81 160. 39
139. 75
112.52
135. 15
113.27
136. 95
79. 02
111.11
68.57
113.52
137. 06
113.15
134. 72
79.45
110. 70
69.14
114. 59
136. 42
114. 12
139. 35
80.94
112.20
70.48
113.63
136. 63
112.33
136. 54
80.73
111.38
70.11
112.83
138. 78
114.11
137.86
79.92
111.93
69. 09
115.56
138. 14
114.24
141.20
79. 86
112. 74
68.87
114.75
136. 43
117.03
140. 53
79.79
112.87
68.64
113.28
137. 82
115.31
140. 11
80.14
114.52
69.65
112.88
132. 80
112.97
139. 18
80.30
114. 09
69.15
113. 71
134. 60
114.62
141.44
80.59
114.05
69.10
114.26
135.11
111.36
139. 59
80.59
114.74
69.30
114.53
121.48
112.22
140. 42
81.09
115.26
69.80
'118.1.5 119. 28
'136.27 141. 24
'112.03 113.97
'140.49 141. 59
81.09 ' 82. 80 84.38
'115.66 '116.35 117. 22
73.53
' 70. 15 71.76
82.21
99. 32
81.18
99.06
82. 43
99.80
82.21
99.32
82. 14
99.70
82.81
100.44
82.73
100.81
83.78
101.08
85.04
100. 74
85.19
102. 67
84.82
102. 12
85. 56
102. 58
53.34
61.12
52.68
62.15
53. 72
61.76
53.58
60.74
53. 73
61.88
55. 06
62.65
54.83
61.99
55.35
62. 87
55.05
62.79
55.63
62. 02
55.78
63.24
2.71
2.59
2.89
2.75
3.20
2.27
2 20
2.72
3.28
3.58
2.87
3.08
2.64
3.33
3.44
3.30
2.70
2. 71
2. 58
2.88
2.74
3.18
2.28
2.20
2.70
2.57
2.87
2.73
3.21
2.30
2.21
2.74
2.61
2.93
2.78
3.23
2.33
2.23
2.75
3.32
3.61
2.91
3.11
2.66
3.40
3.54
3.33
2.72
2 °3
2.47
2.36
2.51
2.08
1.99
1.90
2.79
3.20
3. 02
3.43
2.75
2. 62
2.94
2.79
3.23
2.33
2.24
2.76
3.31
3.59
2. 91
3.12
2. 66
3.41
3. 55
3.35
2.70
1.96
2. 69
1 . 96
2.76
2.63
2.94
2.80
3.23
2.30
2.24
2.77
3.31
3.58
2.91
3.13
2.67
3. 40
3.52
3.37
2.73
2.25
2.49
2.39
2.54
2.11
2. 01
1.93
2.79
3.21
3. 04
3.46
3.64
2.69
1.98
2.77
2.65
2.95
2. 82
3.25
2.28
2. 26
2.77
3.30
3.56
2.93
3.15
2.68
3.41
3.53
3.36
2.75
2. 28
2.50
2.40
2.57
2.18
2.00
1.93
2. 79
3.21
3.04
3.46
3.63
2. 69
1.98
2.78
2.67
2.95
2.83
3.25
2.29
2.26
2.76
3.31
3.58
2.93
3.15
2.69
3.40
3.50
3.37
2.75
2.32
2.51
2.42
2.60
2.20
2.01
1.95
2.80
3.21
3.04
3.50
3.67
2.70
2.01
2.78
2.68
2.96
2.84
3.23
2.32
2.26
2.77
3.30
3.56
2.93
3.16
2.71
3.38
3.46
3.38
2.77
2.33
2.53
2.44
2.61
2.28
2.01
1.99
2.80
3.22
3.04
3.54
3.71
2.69
2.03
2.79
2.68
2.96
2.84
3.22
2.32
2.28
2.78
3.31
3.59
2.93
3.16
2.71
3.37
3.45
3.39
2.77
2.34
2.54
2.45
2.63
2.34
2.01
2.00
2.81
3.23
3.05
3.56
3.75
2.70
2.05
2.80
2.69
2.97
2.85
3.22
2.35
2.29
2.79
3.29
3.56
2.94
3.15
2.73
3.39
3.49
3.39
2.78
2.33
2.55
2.46
2.65
2. 36
2.02
2.01
2.82
3.23
3.05
3.57
3.77
2.70
2.06
2.81
2.70
2.98
2.87
'3.21
2.37
2.30
2.81
3.30
3.58
2.96
3.16
2.75
3.41
'3.51
3.40
2.80
'2.33
2.55
2.46
' 2. 65
2.37
2.02
2.00
2.82
3.25
'3.07
3.58
3.78
'2.62
2. 07
2.81
' 2. 71
2. 99
2.87
3.23
2.41
' 2. 30
'2.81
'3.32
3.58
2. 96
3.17
2.77
3.42
3.54
3.41
'2.81
2. 33
2.56
' 2. 46
2.64
'2.39
'2.02
'2.01
'2.86
3.26
'3.10
'3.57
'3.77
'2.63
2.07
2. 59
2.88
2.74
3.18
2.29
2.19
2.71
3.29
3.61
2.85
3.06
2. 62
3.30
3.40
3.30
2.69
2 20
2.46
2.35
2 52
2.32
1.97
1.87
3. 16
2. 98
3. 41
3. 60
2. 66
1.94
3.' 29
3.60
2.85
3.08
2.63
3.30
3.39
3.30
2.70
9
21
2.45
2.34
2.53
2.30
1.98
1.87
2.75
3.15
2.98
3.41
3.62
2. 65
1.94
3.05
3.17
a 3. 61
2. 87
3.87
3.74
3.54
4.12
3.06
3.16
3.67
2.85
3.83
3.69
3.54
4.09
3.05
3.18
2. 66
3.18
2. 79
3.30
2. 13
2. 73
1.91
1.43
1.60
9 99
2.45
2. 35
2. 52
2.19
1.96
1.89
3.14
3.00
3.42
3.63
2.67
1.91
5! 28
3.59
2.86
3.07
2.62
3.31
3.42
3.32
2.69
2 20
2.45
2.34
2.49
2.17
1.98
1.90
2. 77
3.15
3.00
3.39
3.58
2.65
1.94
9' 93
2.48
2.37
2. 52
2. 09
2. 00
1.93
2.79
3.21
3. 03
3.43
3. eo
85. 10
102. 49
85.47
102. 49
55.85 ' 56. 42 56.52
64.13 ' 64. 53 65. 95
2. 87
3.85
3.70
3.55
4.11
3.06
3.19
3.66
2.86
3.89
3.75
3.61
4.13
3.11
3. 20
3.71
2.91
3.96
3.83
3.69
4.21
3. 12
3.21
3. 72
2. 91
3.95
3.84
3. 66
4.19
3.12
3.22
3.72
2.93
3.95
3.86
3.57
4.20
3.14
3.22
3.73
2.95
3.98
3.88
3.55
4.22
3.16
3.20
3.75
2.99
4.01
3.87
3.59
4.26
3.15
3.20
3.68
3.01
3.99
3.86
3.57
4.26
3.16
3.23
3.69
3.01
3.98
3.87
3.48
4.25
3.18
3.24
3.73
3.04
3.98
3.85
3.53
4.26
'3.17
3.23
'3.70
3.02
4.01
'3.90
'3.58
'4.30
'3.18
3.26
3.71
3.01
4.01
3.86
3.67
4.30
2.64
3.18
2.78
3.27
2.13
2.72
1.91
2.69
3.18
2.77
3.31
2. 13
2. 73
1.91
2.68
3.17
2.76
3.29
2.13
2.73
1.90
2.68
3. 22
2.79
3.33
2.16
2. 75
1.93
2. 70
3. 22
2. 80
3.37
2.17
2.70
3.21
2.82
3.37
2.18
2.78
1.95
2.71
3.22
2.89
3.36
2.16
2.80
1.94
2.72
3.20
2.86
3.37
2.20
2.81
1.97
2.74
3.22
2.88
3.40
2 22
i. 83
1.98
2.74
3.24
2.87
3.38
2.22
2.84
1.98
2.74
3.18
2.87
3.40
2.24
2.86
2.00
'2.78
3.26
'2.88
'3.41
2.24
2.87
'2.01
2.80
3.30
2.90
3.42
' 2. 25
'2.88
2.01
1.42
1.61
1.41
1.60
1.41
1.59
1.46
1.62
L 94
157.12
2.81
2.71
2.99
2.87
3.23
2. 42
2.30
2.82
3.31
2.97
3.17
2.77
3.42
3.39
2. 81
2. 31
2.57
2.47
2.63
2 38
2.02
2.01
2.88
3. 26
3.12
3. 60
3.80
2. 63
2. 05
3. 22
4. 06
9 25
£88
2. 02
1.54
1.52
1.53 '1.55
1.49
1.52
1.50
1.50
1.74
1.69
1.71 '1.73
1.64
1.65
1.67
1.70
d"D erived b y assum ing that overtime5 hours £ire paid at the nite of tinne and c ne-half .
9Iricludes d ata for in dustries ilot show n separat ely.
1.48
1.64
SURVEY OF CURRENT BUSINESS
S-16
Unless otherwise stated, statistics through 1964
and descriptive notes are shown in the 1965
edition of BUSINESS STATISTICS
1965
1966
1966
Annual
August 1967
June
Aug.
July
Sept.
1967
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
3.832
5.464
3.876
5.533
3.962
5.560
1 36
P169
EMPLOYMENT AND POPULATION—Continued
HOURS AND EARNINGSf— Continued
Miscellaneous wages:
Construction wages, 20 cities (ENR): §
Common labor
$ per hr
Skilled labor
do
Farm without board or rni 1st of mo
do*
Railroad wages (average, class I)
do
LABOR CONDITIONS
Help-wanted advertising, seas, adj ._. 1957-59 =100- _
Labor turnover in manufacturing estab.: f
Accession rate, totaL.mo. rate per 100 employees. _
Seasonally adjusted
do
New hires
do
Separation rate, total
do
Quit
__do_ .
Layoff
do
Seasonally adjusted
do
Industrial disputes (strikes and lockouts):
Beginning in period:
Work stoppages
number
Workers involved .
. . _ thous.
In effect during month:
Work stoppages
number
Workers involved" . . __
_ _ __thous-_
Man-days idle during period
do
EMPLOYMENT SERVICE AND UNEMPLOYMENT INSURANCE
Nonfarm placements
__
_ _ . thous.
Unemployment insurance programs:
Insured unemployment, all programs©
do
State programs:
Initial claims
do
Insured unemployment, weekly avg
do
Percent of covered employment :0"
Unadjusted
Seasonally adjusted
Beneficiaries, weekly average
thous__
Benefits paid
mil. $
Federal employees, insured unemployment,
weekly average
_._ _
thous..
Veterans' program (UCX):
Initial claims
do
Insured unemployment, weekly avg
do
Beneficiaries, weekly average
. . _ do. _
Benefits paid
mil. $
Railroad program:
Applications
__
_thousInsured unemployment, weekly avg
do _._
Benefits paid
mil. $
3.415
4.951
1 14
1
3. 008
3.623
5. 207
1.23
1
3. 106
3.644
5.213
3.075
3.678
5.238
1.26
3 095
3.693
5.273
3.700
5. 294
3.060
3.098
3.700
5.301
1 18
3.106
3.710
5.330
3.720
5.335
3.130
3.144
3.748
5.355
1.33
3.198
3.752
5.364
3.757
5.371
3.266
3.757
5.374
1 34
155
190
184
186
189
189
193
194
193
189
190
184
181
174
171
4.3
4.8
6.7
6.4
6.1
4.3
3.9
3.9
4.6
4.6
3.9
5.3
5.1
4.1
4.8
2.9
3.8
4.6
5.0
4.7
6.6
3.9
3.1
4.1
5.1
4.8
5.8
5.1
3.6
5.3
5.6
4.4
5.1
1.9
1.4
2.6
1.2
2.5
1.0
1.3
2.5
2.0
1.7
3.6
1.1
1.0
4.5
1.0
1.1
2.8
'499
'161
'448
'286
'442
' 117
3,963
1,550
' 4, 405
'
1,960
'718
'759
'704
'265
'310
'347
' 2, 220 '3 100 ' 3, 370
'422
'132
1. 1
1.0
'410
' 191
4.5
2.1
4.2
4.6
3.0
4.5
2.1
1.3
1.1
1.7
1.8
1.3
2.1
1.5
1.4
'288
'126
'173
275
98
4.9
3.1
4.3
'49
'676
'389
'651
'533
'226
' 234
' 158
' 255
' 1, 780 ' 2, 190 ' 2, 150 ' 1,670
440
190
4.6
4.1
2.8
4.3
4.6
3.3
4.2
f 5.7
p4. 5
p4.4
p4.1
1.9
1.3
1.5
2.1
1.5
1.7
2.2
1.3
1.5
2.2
1.1
1.4
p2.2
p 1.1
p 1. 4
325
106
430
141
440
409
535
255
430
177
575
202
600
443
2S170
695
402
3 900
670
350
4,360
4.2
2.7
4.0
465
151
4.2
28
23,300
' 25, 400
6,473
6,493
622
549
619
619
592
513
421
440
407
460
476
507
537
1,419
1,123
841
1,001
980
802
799
955
1,313
1,631
1,654
1,603
1,423
1,197
1,070
12, 047
1,328
10, 575
1,061
690
1,019
826
915
1,280
1,254
1,346
1,558
1,087
1,582
1,061
1,532
1,005
1,360
848
1,142
803
1,019
2.4
2. 1
2 6
793
947
626
755
709
928
753
903
1,270
1,280
1,490
3.0
2.3
1.6
2.2
640
3.3
2.9
589
114.4
902
1 771
113 8
143.1
106.5
673
2 4
3.4
2.5
719
2.0
2.4
791
3.3
2.4
895
1.8
2.1
702
21
1,131
2 166
93.7
114.8
157.6
1,276
224.8
1,349
219.5
2 6
1,374
257.5
2 7
1,244
200.6
21
18
19
18
16
16
17
20
23
24
22
266
36
34
67 5
182
21
19
14
17
16
2.9
17
19
15
2.4
16
19
18
3.2
12
15
14
2.6
13
14
12
2 1
15
16
13
2.4
17
21
16
15
25
23
3.9
16
24
22
30
19
25
22
4.0
25
15
2.9
18
16
2.1
8
15
2.5
7
16
2.4
6
16
6
18
2 1
2 6
7
19
2.9
11
25
3.5
6
24
3.8
138
30
r
60 3
39. 5
145
20
39 3
2 1
2 4
1.6
1.9
2 2
2.7
2 7
1,014
183 6
156 1
19
18
18
14
21
21
14
19
r
!8
4 2
3 6
3 4
17
19
19
35
5
23
4
'20
4 2
30
3
17
2.8
2 5
925
15
14
FINANCE
BANKING
Open market paper outstanding, end of period:
Bankers' acceptances
mil $
Commercial and finance co. paper, total
do
Placed through dealers
do
Placed directly (finance paper) ._ . _ . do_ _
3 392
9*058
1 903
7, 155
3 603
13 279
3 089
10, 190
3 420
10, 769
2 090
8,679
Agricultural loans and discounts outstanding of
agencies supervised by the Farm Credit Adm.:
Total, end of period
mil $
Farm mortgage loans:
Federal land banks
do
Loans to cooperatives
. . do.
Other loans and discounts
do
8 080
9 452
4 281
1,055
2 745
4 958
1, 290
3 205
Bank debits to demand deposit accounts, except
interbank and U.S. Government accounts,
annual rates, seasonally adjusted: A
Total (233 SMSA's)O
bil. $
New York SMSA
do
Total 232 SMSA's (except N.Y.)
do.
6 other leading SMSA 'si
do
226 other SMSA's
do._._
5 151 8
2 138.5
3, 013. 3
1 140 9
1, 872. 4
Federal Reserve banks, condition, end of period:
Assets, total?
mil. $
Reserve bank credit outstanding, total 9 --do
Discounts and advances
do
U.S. Government securities
do
Gold certificate reserves
do
Liabilities, total 9
Deposits, total
Member-bank reserve balances _ _ _
Federal Reserve notes in circulation
3 369
12 183
2 361
9,822
3 387
12, 835
2 653
10,182
3 370
11,778
2 773
9,005
3 359
13 045
2,977
10, 068
3 457
14 169
3 153
11,016
3 603
13 279
3 089
10, 190
3 601
14 718
3 449
11,269
3 575
15 199
3 781
11,418
3 704
16* 034
4 360
11,674
3 830
16 249
4 356
11 893
3 964
17 067
4 713
12, 354
4 131
16 150
4 934
11.216
9,145
9 351
9 412
9,406
9,381
9,357
9,452
9, 560
9 721
9 937
10 103
10 280
10 435
10, 605
4,725
1,105
3,315
4,788
1,167
3,396
4,853
1,190
3,368
4,900
1,199
3 308
4,926
1,219
3,236
4,938
1,276
3,143
4,958
1,290
3,205
4,986
1,323
3,251
5 036
1,342
3 343
5 111
1,363
3 463
5 175
1,337
3 590
5 248
1, 316
3 716
5,303
1,296
3,x315
5,358
1,335
3,911
5 923 1
2,502 2
3, 420. 9
1 328 1
2, 092. 7
5, 908. 3
2, 494. 1
3, 414. 2
1, 327. 0
2, 087. 2
5 868 3
2, 394. 1
3, 474. 2
1 343 6
2, 130. 6
6, 092. 4
2, 597. 0
3, 495. 4
1, 357. 1
2, 138. 3
6, 105. 2
2, 559. 1
3, 546. 1
1, 387. 2
2, 158. 9
6, 065. 4
2,551.8
3,513.6
1, 364. 9
2, 148. 7
6 078.5
2, 566. 6
3,511.9
1 373 8
2, 138. 1
6 406 5
2, 844. 6
3,561.9
1 405 1
2, 156. 8
6, 409. 1
2, 847. 3
3,561.8
1, 362. 2
2, 199. 6
6 294 9
2 724 7
3, 570. 2
1 389 5
2, 180. 7
6 315 9
2,756 6
3, 559. 3
1 386 8
2, 172. 5
6 553 5
2, 864. 0
3, 689. 5
1 451 4
2, 238. 1
6 348 2
2 734.5
3,613.7
1 409 2
2, 204. 5
6 637 2
2 904 1
3,733.1
1 476 4
2, 256. 7
6,688 7
2, 857. 1
3, 831. 6
1,560 5
2,271.1
65 371
70 332
66, 520
67, 574
66, 342
67, 385
67, 257
68, 376
70, 332
67, 493
67 490
67, 385
69, 015
68 862
70 135
70, 516
43, 340
137
40, 768
13 436
47, 192
173
44, 282
12 674
44, 656
292
42, 169
12, 993
45, 816
877
42, 380
12, 890
44, 450
386
42, 518
12, 788
45, 475
773
42, 907
12, 779
45, 501
410
42, 975
12 776
46, 281
458
43, 912
12, 667
47, 192
173
44, 282
12 674
45, 602
71
43, 464
12 678
45, 799
165
43, 971
12 626
46, 507
42
44, 908
12 611
47, 267
54
45, 460
12 604
47, 799
415
46, 066
12 608
48, 268
68
46, 718
l'> 610
47, 603
41
46, 804
12, 604
do
65 371
70 33°
66 520
67 574
66, 342
67 385
67 257
68 376
70 332
67 493
67 490
67 385
69 015
68 862
70 135
70 516
do
do
do
19 690
18 447
37, 950
20 972
19, 794
40, 196
20, 083
18, 567
38, 258
21,354
19,155
38, 583
19, 591
17, 399
38, 660
20, 887
19,538
38. 623
20, 767
19, 338
38, 759
19, 987
19, 093
39, 581
20, 972
19, 794
40, 196
20 171
18,773
39, 216
19 879
18,916
39, 115
20, 561
19, 148
39, 013
21 353
19, 410
39, 070
20 844
19, 634
39, 499
21,474
19,505
39, 934
20, 813
18, 877
40, 199
35.4
31.5
34.0
33.4
33.1
33.1
33.0
32.0
31.5
32.3
32.3
32.3
32.3
31.9
31.6
31.4
Ratio of gold certificate reserves to FR note
liabilities
percent..
'Revised.
» Preliminary.
1 Includes adjustments not distributed by months.
§Wages as of Aug. 1, 1967. common labor, $3.978; skilled labor, $5.620.
TSee corresponding note, bottom of p. S-13.
©Excludes persons under extended duration provisions.
cflnsured unemployment as % of average covered employment in a 12-month period.
ARevised series.
OTotal SMSA's include some cities and counties not designated as SMSA's.
^Includes Boston, Philadelphia, Chicago, Detroit, San Francisco-Oakland, and Los
Angeles-Long Beach.
9 Includes data not shown separately.
SURVEY OF CURRENT BUSINESS
August 1967
Unless otherwise stated, statistics through 1964
and descriptive notes are shown in the 1965
edition of BUSINESS STATISTICS
1965
1 1966
End of year
S-17
1967
1966
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
23, 405
22, 970
435
199
236
23,362
23,053
309
134
175
23, 284
22, 914
370
101
269
23,518
23,098
'420
123
'297
23,911
23, 552
359
87
272
72, 891
111,495
79, 782
6,249
2,705
13, 490
97, 829
73, 174 74. 348
09, 403 112,459
79, 244 81, 030
5,920
6,089
3,103
3,458
12, 701 13,445
98, 848 100, 731
FINANCE—Continued
BANKING- Continued
All member banks of Federal Reserve System,
averages of daily figures:
Reserves held, total
mil. $._
Required
do
Excess
do
Borrowings from Federal Reserve banks. _ _ do
Freereserves
__do __
Large commercial banks reporting to Federal Reserve System, Wed. nearest end of yr. or mo.:©
Deposits:
Demand, adjustedcf
--mil. $_.
Demand, total 9 __
do
Individuals, partnerships, and corp
do
State and local Governments
do
U.S. Government
do __
Domestic commercial banks
do
Time, total 9
do
Individuals, partnerships, and corp.:
Savings
do
Other time
do
Loans (adjusted), totaled
. do
Commercial and industrial __ _ _ __ _ do _
For purchasing or carrying securities. _ _ do
To nonbank financial institutions
do
Real estate loans
do
Other loans
do
Investments, total
_
_ _
do
U.S. Government securities, total
do
Notes and bonds
do
Other securities
_ .
do
Commercial bank credit (last Wed. of mo., except
for June 30 and Dec. 31 call dates) , seas. adj.:t
Total loans and investments©
bil $
LoansO— - do
U.S. Government securities
do
Other securities
_
do
i 22, 719 1 23, 830
i 22, 267 * 23, 438
1392
1452
1557
1454
i -2 i -165
22, 534
22, 212
322
674
-352
23, 090
22, 686
404
766
-362
22, 655
22, 317
338
728
-390
23, 240
22, 842
398
766
-368
23. 333
23, 031
302
733
-431
23, 251
22, 862
389
611
-222
23,830
23,438
392
557
-165
24,075
23,702
373
389
-16
23, 709
23, 351
358
362
-4
75,901
110, 201
81, 070
5,854
4,059
12, 399
85,298
75, 120
114, 765
83, 108
6,137
3, 882
13, 838
89, 639
71, 424
09, 039
75, 955
6, 172
7,767
11,857
90, 327
70, 784
05, 648
76, 037
5,996
4,313
12, 266
91, 168
71, 358
04, 648
76, 720
5,748
3,180
12, 058
91, 398
71, 189
04, 851
76, 248
5,706
4,515
11,710
90, 523
72, 609
07, 531
77, 640
6,624
3,463
12, 692
88, 879
73, 134
08, 956
79, 482
6,310
2, 782
13, 077
88, 527
75, 120
14, 765
83, 108
6,137
3,882
13, 838
89, 639
73, 703
11, 768
79, 215
6,771
3, 355
13, 481
92, 985
72, 600 72, 841 71, 484
09, 635 106, 592 110, 455
79, 254 77, 469 77, 831 „
6,310
6,229
5,937
2,944
6,150
3,752
13, 236 12, 462 12, 927
94, 240 96, 133 96, 569
50, 694
22, 111
125, 789
53, 113
6,633
11,187
25,577
34, 917
52,811
26,638
21,591
26, 173
47, 213
29, 002
134, 761
60, 779
6,691
11, 228
27, 492
34, 729
51, 502
24, 803
19, 816
26, 699
48, 526
28,711
33, 125
58, 279
6,975
11,946
26, 701
35, 329
50, 353
22, 531
19, 662
27, 822
47, 500
30, 649
32, 563
59, 039
6, 145
11,347
26, 939
34, 605
49, 882
22, 340
19, 639
27, 542
47, 342
30, 882
31, 426
58, 306
6.501
10, 457
27, 207
35, 321
50, 966
23, 527
19, 296
27, 439
47, 351
30, 327
32, 202
59, 440
5,826
10, 825
27, 403
34, 424
50, 719
23, 180
19, 081
27, 539
47, 076
29, 220
32, 176
59, 723
5,708
10, 645
27,517
34, 042
49, 670
22, 863
18, 991
26, 807
47, 038
28, 967
31, 741
60, 042
5,339
10, 349
27, 561
34, 657
49, 915
23, 491
19, 637
26, 424
47, 213
29,002
34, 761
60, 779
6,691
11, 228
27, 492
34, 729
51, 502
24, 803
19, 816
26, 699
46, 459
32, 425
33, 268
60, 385
7,419
10, 280
27, 290
34, 235
53, 163
25, 758
20, 246
27, 405
46, 609 47, 098 46, 970 47, 285 47, 739 47, 836
33, 024 34, 039 33, 769 34, 707 ••35,117 36, 604
32, 359 133, 027 134, 237 133,108 136, 045 137, 270
60, 730 61,962 62,648 61,836 ^63,784 63, 445
7,455
6,901
6,302 ' 6, 051
6,799
6,642
9,907
9,723
9,634 10, 270
9,942
9,612
27, 168 27, 131 27, 087 27, 296 '27,547 27, 797
33, 808 33, 852 34,068 34, 510 '35,231 34, 992
54, 147 56, 038 56, 033 56, 269 55, 782 58,268
25, 629 26, 770 25, 326 25, 398 24, 126 26,004
21, 058 21, 248 21, 446 21,544 21, 335 21, 041
28, 518 29, 268 30, 707 30, 871 31, 656 32, 264
310. 2
2 207. 2
54.3
2
48. 7
2 307. 7
2 204. 0
55.1
2 48. 6
309. 2
206. 4
54.4
48.5
310.8
206. 6
56. 1
48.1
308.7
206. 1
54.3
48.3
308.1
207.2
52.5
48.4
308.6
207.2
53.0
48.4
310.2
207.2
54.3
48.7
314.9
211.0
54.0
49.8
35.06
34.83
35.09
35.34
36.00
35.84
36.06
3 6.14
5.82
5.65
5.86
6.00
4.50
34.94
35.43
4.50
35.82
3 5. 74
4.50
5.68
5.60
4.50
5.91
5.93
4.50
5.99
5.96
4.50
6.13
5.98
4.50
6.29
6.00
4.50
6.33
6.00
4.50
6.38
6.00
4.50
6.38
6.00
4.50
6.38
6.00
4.50
6.17
6.00
4.00
6.03
6.00
35.76
35.89
36.11
36.24
6.07
6.18
6.12
6.24
6.18
6.35
6. 22
6.40
6.32
6.49
6.40
6.50
6.44
6.52
*6.47
4 6. 54
6.44
6.49
6.41
6.44
294.4
192.0
57.7
44.8
2
Money and interest rates: § f
Bank rates on short-term business loans:
New York City
7 other northern and eastern cities
do
do
321.9
211.8
57.8
52.3
326.7
214.3
56.5
55.9
334.1
218.4
59.1
56.7
4.00
5.78
6.00
4.00
5.72
6.00
4.00
5.61
6.00
6.37
6.36
6.28
6.31
6.29
6.30
6.34
6.33
324.1
213.8
56.6
53.7
326.4
213.8
57.6
55.1
5.95
5.67
66.13
65.86
6 31
6.16
6.38
6 46
6.30
6.13
6.40
6.42
316.5
210.4
55.1
51.0
Discount rate (N.Y.F.R. Bank), end of year or
month
percent-Federal intermediate credit bank loans. _ _ d o _
Federal land bank loans
_ do
Home mortgage rates (conventional 1st mortgages) :
New home purchase (U.S. avg.)
percent-Existing home purchase (U.S. avg.)
do
Open market rates, New York City:
Bankers' acceptances (prime, 90 days) _do _.
Commercial paper (prime, 4-6 months)__do
Finance Co. paper placed directly, 3-6 mo. do
Stock Exchange call loans, going rate. __do _
Yield on U.S. Government securities (taxable):
3-month bills (rate on new issue)
percent ._
3-5 year issues .
do
54.22
54.38
54.27
54.69
5 5.36
55.55
5 5.42
5 5.78
5.39
5.51
5.39
5.52
5.58
5.63
5.51
6.00
5.67
5.85
5.63
6. 12
5.75
5.89
5.67
6.25
5 72
6! 00
5.82
6.25
5.67
6.00
5.88
6.25
5.60
6.00
5.88
6.25
5.23
5.73
5.50
6.20
4.88
5.38
5.19
5.75
4.68
5.24
5.01
5.75
4.29
4.83
4.57
5.50
4.27
4.67
4.41
5.50
4.40
4.65
4.40
5.50
4.58
4.92
4.70
5.50
5 3. 954
54.22
s 4. 881
55.16
4.539
5.01
4.855
5.22
4.932
5.58
5.356
5.62
5. 387
5.38
5.344
5.43
5.007
5.07
4.759
4.71
4.554
4.73
4.288
4.52
3.852
4.46
3.640
4.68
3.480
4.96
4.308
5.17
Savings deposits, balance to credit of depositors:
N.Y. State savings banks, end of period
mil. $__
U S postal savings ^
do
30,312
309
32,025
122
30, 716
192
30, 868
182
31, 006
169
31,290
159
31, 398
147
31, 590
140
32, 025
133
32,341
109
32, 564
102
33, 079
92
33, 171
83
72
53
mil. $..
do
do
do
do
do
87, 884
68, 565
28, 843
17, 693
3,675
18, 354
94, 786
74, 656
30, 961
19, 834
3,751
20, 110
90, 070
71, 194
30, 402
17, 959
3,677
19, 156
90, 650
71,862
30, 680
18,165
3,711
19,306
91,483
72, 640
30, 918
18,390
3,755
19, 577
91, 639
72, 829
30, 793
18, 564
3,771
19, 701
91,899
73, 073
30, 852
18,714
3, 770
19, 737
92, 498
73, 491
30, 937
18,945
3,772
19,837
94, 786
74, 656
30,961
19, 834
3,751
20,110
93, 479
74, 015
30, 689
19, 649
3,703
19, 974
92, 517
73, 598
30, 530
19, 426
3,666
19, 976
92, 519
73, 591
30, 527
19, 369
3,648
20, 047
93, 089
73, 840
30, 635
19, 376
3,636
20, 193
93, 917
74, 290
30, 852
19, 442
3,670
20, 326
94, 813
75, 051
31, 208
19, 580
3,696
20, 567
do
do
do
do
_ do
60, 273
29, 173
16, 138
7,512
5,606
1,844
8,292
4,488
1,235
447
2 122
65, 565
32, 155
16, 936
8,549
6,014
1,911
9,091
63, 097
31,013
16, 454
8,009
5,742
1,879
8,097
63, 745
31,398
16, 585
8,093
5,791
1,878
8,117
64, 454
31,737
16,732
8,238
5,846
1,901
8,186
64, 613
31,778
16, 759
8,324
5,858
1,894
8,216
64, 792
31, 878
16,771
8,391
5,863
1,889
8,281
65,046
31,978
16,790
8,480
5,881
1,917
8,445
65, 565
32,155
16, 936
8,549
6,014
1,911
9,091
65, 162
32, 033
16, 814
8,443
5,969
1,903
8,853
64,966 65,006
31,967 32,068
16, 696 16, 593
8,485
8,429
5,965 . 5,951
1,909
1,909
8,585
8,632
65, 298
32, 299
16, 590
8,561
5,951
1,897
8,542
65, 733
32, 560
16, 615
8,665
5,947
1,946
8,557
66, 452
32, 966
16, 721
8,826
5,995
1,944
8,599
487
489
490
490
488
490
494
CONSUMER CREDITt
(Short- and Intermediate-term)
Total outstanding, end of year or month
Installment credit total
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
Consumer finance companies _
Retail outlets, total
do
Department stores
do
Furniture stores
do
489
485
Automobile dealers
do
490
480
Other
do
Noninstallment credit total
do
19, 319
20,130 18, 876 18, 788 18, 843
7,849
7,844
7,901
Single-payment loans, total
do._.
7,682
7,844
6,718
6,720
Commercial banks
_.
.do
6,767
6,714
6,587
1,124
1,131
1,134
Other financial institutions
do...
1,130
1,095
'1 Revised.
2
Average for Dec.
Effective with the June 9 change in Federal Reserve regulations,
data exclude loan balances accumulated for payment of personal loans (about $1.1 bil.); beginning
June
30,
about
$1
bil.
of certificates, formerly in "other loans," are in "other securities."
3
Average for year.
* 5Beginning Jan. 1967,6 data are on a new basis; they are not comparable
with earlier figures.
Daily average.
Revised series.
©All data shown reflect changes in coverage and format; comparable data for July-Dec.
1965 appear in the Mar. 1967 issue of Federal Reserve Bulletin. Revisions for 1966 reflect adjustments for mergers (Jan. and Feb. data will be shown later).
cf For demand deposits, the term "adjusted" denotes demand deposits other than domestic
485
486
502
19, 762
8,077
6,902
1,175
18,810 18, 826 19,007 20, 130 U464 18, 919 18, 928 19, 249 19, 627
8,017
7,769
7,890
7,754
7,844
7,779
7,807
7,768
7,814
6,848
6,647
6,758
6,634
6,714
6,659
6,678
6,656
6,692
1,169
1,122
1,132
1,120
1,120
1,129
1,130
1,122
1,112
commercial interbank and U.S. Government, less cash items in process of collection; for
loans, exclusive of loans to domestic commercial banks and after deduction of valuation
reserves (individual loan items are shown gross; i.e., before deduction of valuation reserves).
9Includes data not shown separately.
JRevised monthly data for commercial bank credit
.id exclude rates lor certain loans lormeny inciuaea (.see may iyo/ r eutuai xx^i ^
Bulletin).
^[Monthly data are as of the following dates: 1966—June 30; July 15; Aug. 12;
Sept. 9; Oct. 7; Nov. 4; Dec. 2; 1967—Jan. 27; Feb. 24; Mar. 24; Apr. 21; May 19.
SURVEY OF CURRENT BUSINESS
S-18
1965
Unless otherwise stated, statistics through 1964
edition of BUSINESS STATISTICS
1966
1966
Annual
August 1967
June
July
Aug.
Sept.
1967
Oct.
Nov.
Dec.
Jan .
Feb.
Mar.
Apr.
1
i
May
June
July
FINANCE—Continued
CONSUMER CREDIT§— Continued
Total outstanding, end of year or month— Con.
Noninstallment credit— Continued
Charge accounts, total
_ . _ . _ _ . .mil. $
Department stores
do
Other retail outlets
do
Credit cards
___
.do _.
Service credit
do
Installment credit extended and repaid:
Unadjusted:
Extended, total
do. .
Automobile paper
do
Other consumer goods paper
_ do
All other
do
Repaid, total
do
Automobile paper
do
Other consumer goods paper
do
All other
do
Seasonally adjusted:
Extended, total
. _
... do
Automobile paper
do
Other consumer goods paper
do
All other
do
Repaid, total... .
... _ _
.do
Automobile paper
do
Other consumer goods paper
do
All other
do
FEDERAL GOVERNMENT FINANCE
Net cash transactions with the public: cf1
Receipts from
mil. $
Payments to
.
do
Excess of receipts, or payments (— )
do
Seasonally adjusted, quarterly totals: J
Receipts from
do
Payments to
do
Excess of receipts, or payments (— ) _ do
Receipts and expenditures (national income and
product accounts basis), qtrly. totals, seas,
adj. at annual rates: *
Receipts
. .
bil. $
Expenditures
do
Surplus, or deficit ( — )
do
Budget receipts and expenditures:
Receipts, total
. mil. $
Receipts, netf
do
Customs
.
.
do
Individual income taxes
do
Corporation income taxes .
do
Employment taxes.
do
Other internal revenue and receipts
do
Expenditures, total?
_
_
do
Interest on public debt
do
Veterans' benefits and services
do
National defense
_._ do.
All other expenditures.
do
Public debt and guaranteed obligations:
Gross debt (direct), end of yr. or mo., totaL.bil. $..
Interest bearing, total
_
do
Public issues.. _ _
do
Held by U.S. Govt. investment accts.do
Special issues
do
Noninterest bearing and matured
__ do
Guaranteed obligations not owned by U.S. Treasury, end of year or month... . .
. bil. $
U.S. savings bonds:
Amount outstanding, end of yr. or mo do
Sales, series E and H.
do
Redemptions
do
1
1
1
0, 746
i 968
5 055
i 723
4 891
75, 508
27, 914
21. 454
26, 140
67,
495
9
4 267
19, 355
23, 873
123 376
127 920
—4 544
i 7, 144
5, 908
5 888
5, 973
5, 993
6, 107
6,199
7 144
6, 472
5, 824
5,809
5,923
6 931
6 334
i 874
5 142
824
5,067
861
5 056
916
5, 021
932
5,003
898
4 951
878
5 001
874
5 140
908
5 213
895
5,341
898
5 350
922
5 436
939
5 379
965
5 351
78, 896
28, 491
23, 502
26, 903
72, 805
26 373
21, 361
25, 071
7, 236
2,746
2, 013
2,477
6, 251
2, 252
1, 786
2, 213
6,670
2 466
1 945
2 259
6, 002
9 igg
1,'?39
2,075
7, 025
2, 543
2,023
2 459
6.
247
9
305
1 ' 798
2,144
6,189
2, 070
1, 935
2 184
'
6,
000
9
195
1,761
2,044
6, 403
369
1,949
2 085
6,
159
9
310
1 799
2. 050
6,611
2 346
2 9044
2 21
6,193
o '>6i
1*813
2,119
79 44°
178
o 7')()
9
544
6 977
9
1 54
1 831
9 9 9
9
5, 674
1 923
1 808
1 943
6 315
9 195
1 993
2,127
5, 488
1,916
1, 655
1,917
5,905
2 075
1*878
1,952
6,641
2 350
1 985
9
306
6,648
9 353
9
042
9
253
6, 495
2 294
1 997
2 974
6,246
9 ig6
1 920
2, 140
7 062
9 559
9' 074
9 429
6 612
9 342
2* 008
9
262
9
017
2 35S
6, 675
2,419
1,944
2, 312
6,126
2,211
1,767
2,148
6 732
2 383
2 050
2,299
6,168
2,238
1 803
2, 127
6, 689
2 431
1.995
2,263
6, 087
2,223
1.792
2,072
6,578
2 387
1 958
2, 233
6,103
2,213
1 784
2, 106
6 522
2 37S
1,941
•2, 203
6, 142
2, 244
1 , 820
2, 078
6, 657
2 461
1 947
2, 249
6, 213
2, 255
1 836
69 433
297
1 ' 998
2, 208
6 IP
2 925
1 796
2, 091
6 501
2 240
2 031
2, 230
6 221
2 202
1 882
2,137
6,497
2 177
2,099
2 221
6, 281
2,217
1 915
2, 149
6 510
6 606
9 917
2 095
2,294
6 393
2 235
1 968
2, 190
6 554
9 238
2* 032
2,284
6 361
2 219
1 948
2, 194
6 893
9 338
2*081
2, 404
6 531
2, 281
1 995
-> -55
7,523 10 698 19 g45
14 748
13 150 12, 604 13*654 I 9 545
1, 598 -5,080 -2 955
299
11 951
11 641
—390
12 308
11 852
456
14 490
13' 167
1 393
17 ()7o 11 295 ?9i 438
11 189 14 445 pl2 916
5 881 — 3 150 p 8 522
p4 1,438
p38, 321
p3,117
1
145 136
150, 868
-5,731
20 391 8 103 11 764
12 053 12 927 15 206
8, 338 —4 1 824 -3,442
'
9
9 1<)9
9
049
2, 262
69 246
193
1 ggg
2,154
39, 649
35, 983
3,666
36, 339
40, 041
-3, 702
36, S02
37,820
— 1 018
38 839
39 9126
— S7
145.6
146 3
— 7
148.6
151 9
—3 3
149 1
160 9
11 9
7 458
9 67S
' 155
9' 595
6 697
9
9 QOO
124.8
123 4
1.4
143.2
142 9
3
141.6
138 4
32
124 354
96 679
1 646
56 102
27 035
17, 268
22 303
101 378
11,615
5 151
52 773
32 582
146, 863
110 802
1,930
66,151
31, 986
24, 059
22, 736
118,078
12, 752
5, 838
64, 271
35, 872
20, 817
17 151
172
7 295
8 251
2,719
2 380
9 439
1,068
359
6 303
1 757
7, 993
5,702
158
3, 725
878
1,674
1, 558
10, 263
1,091
450
4, 910
3 851
10, 5S6
7, 197
179
5, 268
606
2,614
1,920
11,042
1,064
444
5,560
4, 025
14,
833
I 9 475
170
6 400
4 547
1.793
1 994
11 883
1, 086
5H2
5,973
4 345
7,910
5 811
170
3 711
797
1.220
2,011
10,977
1, 098
546
5,536
4, 122
9 819 P 815
7 394 10 606
' 179
161
4 917
5 303
' 580 4 636
1,655
1,868
1 888 2 146
9, 512
10 386
1,160
1, 100
610
555
5,911
5 9500
1 861
3 33
11 324
9 386
160
6 749
823
1, 673
1 918
9 987
1,173
467
6. 201
2 238
12 046
7 757
134
6 212
635
3,352
1 713
9 459
1,108
562
5 758
9 048
16 597
11 395
' 170
5 016
6 728
2,
353
9
261
11 699
1. 154
548
6 893
3 IP
19 225 12 072
13 534
6 289
150
' 166
9 807
5 687
4 995
l'o65
3,157
3' 033
9 120
1 817
9 464 10 915
1,127
1,103
480
565
6 303 r 6 125
1 567 r 3 i3Q
i 320. 90 i 329. 32
i 316 52 i 325. 02
i 270 26 i 273 03
i 15. 51 i 16. 69
i 46 26 i 51 99
1
4.30
i 4 39
319.91
315 43
264 31
15. 50
51 12
4 48
319. 28
314. 88
264 18
15.58
50, 70
4.40
324. 42
319. 70
266. 46
15 96
53.24
4.72
324. 75
320 01
266 95
16.02
53 07
4 73
326. 89
322. 30
270 41
16. 06
51 89
4.59
329.41
394 86
979 31
16.29
59 55
4 55
329. 32
325. 02
273 03
16.69
51 99
4.30
328. 87
324 94
9
73 69
16.90
51 25
3.93
329. 62
325 69
074 20
18.04
51 49
3 93
330. 95
327 01
974 95
18. 51
59 06
3 94
327. 80
393 gs
972 23
18. 65
51 65
3 93
330. 89
326 99
271 82
19. 33
55 17
3 89
326. 22
322. 29
266. 13
19.55
56.16
3.94
330. 64
327. 13
270. 92
.49
46
.49
.48
.50
.50
49
.49
.50
51
51
51
51
.51
.52
i 50. 92
4 86
6 00
50. 63
40
49
50.70
41
50
50. 74
.39
.48
50. 70
40
57
50.77
41
47
50. 84
37
41
50.92
.37
45
50.93
49
63
51.01
43
47
51. 09
46
52
51.16
39
45
51.24
44
48
51.30
.41
.50
51.41
.41
.47
i 46
i 50. 46
4 49
5 44
1
148.2
162 8
— 14 6
r
p99, 007
"18 249
P176
P 7, 229
p 9, 324
P 2, 564
p 2, 714
plO, 145
P 1,128
M52
p 6, 001
P 2, 599
56.21
3.50
LIFE INSURANCE
Institute of Life Insurance:
Assets, total, all U.S. life insurance companies +
bil.$__ i 158. 88 » 167. 02 162. 51 163. 49 163. 94 164. 49 165. 43 166.22 166. 94 168. 21 168. 93 169.86 170. 57 171.24 171.88
71.65
Bonds (book value), total
do
72.34
73.48
71.59
71.87
i 70. 15 171.90
71. 62
71.78
71.10
72.59
71. 69
72.98
72. 81
73. 26
1
7.36
8.12
Stocks (book value), total. _. .
do
7.50
7.44
7 36
i 9.13
7.38
7.29
8 76
7.33
7 34
7 58
7 81
7 91
8 00
Mortgage loans, total
do
63.34
66.41
65
19
62
97
64.
80
i1 60 01 i1 64 61
64
35
62 55
63 68
64 01
65 50
66 02
65 80
66 259
Nonfarm
do
58. 13
61.04
59.96
59. 56
59 I 9
60 9
55 19
57.78
58 46
59 37
57 38
58 78
60 26
60 79
60 5°
1
4 99
Real estate
do
4.79
4.99
4 84
4.88
4.88
4.78
4 82
4 84
i 4 68
4 88
4 74
4 89
4 94
4 95
Policy loans and premium notes
do
8.45
9.70
8.29
9.14
9.00
9.25
i 7.68
8 87
i 9 12
8. 16
8.67
9 34
9 54
9 944
9 62
Cash
.
do
1.18
1.30
1 33
1 40
1 10
1.49
i1 1 50
i1 1 53
1 00
1 12
1 96
1 33
1 18
1 35
1 6
Other assets
do
7.17
7.89
7.36
7.43
7 47
7.64
7.63
6 23
7 43
5 73
7 31
7 70
8 00
7 80
Payments to policyholders and beneficiaries in
U.S., total
mil. $_ 11,416.6 12, 342. 2 1, 081. 1 916. 2 1, 087. 1 1,,022.0 993.5
956. 0 1, 309. 8 1,048.2
968.1 1,236.8 1, 034. 1 1,103.2 1,137.5
549 3
Death benefits
do
477.4
459 I
421 1
407 0
494 2
450 0
406 2
456 0
416 6
419 1
454 5
4 831 4 5 218 2
492 1
95 9
Matured endowments
do
87.9
73.0
77. 6
79. 2
93.2
80. 1
981.6
88.0
82.8
79 9
80 0
82 7
931 1
85 6
Disability payments
.
do
17.5
13.7
13. 0
15.2
16.1
12.4
14.8
13.4
169.3
15 0
13. 1
163 0
13 7
15 1
16 5
102.2
Annuity payments
. do
95.3
100.
4
98.
2
1,
152.
6
95.6
116.5
95.0
95.7
94. 2
98.8
1 038 9
99 3
101.1
108 1
7
Surrender values
do
199.2
165 0
193 3
177 7
167 1 9Q6 0
189 4
IS' . 6
174 1
1 932 3 2 120 6
176 9
166 9
189 6
195 7
Policy dividends
do
253.3
191.6
163.0
254. 4
427.8
190.0
192.2
2! 519. 9 2, 699. 9 242.8
236.1
211.6
194.3
213. 6
268.0
r
Revised.
Preliminary.
*New series. Data through 1962 are in the Aug. 1965 SURVEY; those for 1963-lst qtr. 1966
i End of year; assets of life" insurance companies are annual statement values.
appear on p. 25 of the July 1967 issue of the SURVEY.
^[Data for net receipts and total ex§ See note "J" on p. S-17.
Bother than borrowing.
{Revisions prior to 1965 for cash
penditures reflect exclusion of certain intorfund transactions.
transactions with the public (seas, adj.) and for Feb. 1964-May 1966 for assets of all life insurance companies will be shown later.
SURVEY OF CURRENT BUSINESS
August 1967
1965
Unless otherwise stated, statistics through 1964
and descriptive notes are shown in the 1965
edition of BUSINESS STATISTICS
1966
S-19
1966
1967
1
Annual
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
FINANCE— Continued
|
LIFE INSURANCE— Continued
Life Insurance Agency Management Association:
Insurance written (new paid-for insurance) :|
Value, estimated total
mil. $_ i 1142, 166
Ordinary
...
do
82 521
1
Group and mass-marketed ordinary
do
52,349
Industrial.. _ _ _ _ _ _
"
do
7 296
122, 479
88 399
27, 270
6 810
10,101
7 624
1 908
569
9,361
6 794
2, 041
526
9,778
7 307
1 910
561
9 7259
7 05
2 117
556
9 880
7 412
1 878
590
10,095
7 698
1 8359
56
14,614
8 230
5 850
534
8,661
6 640
1,481
540
9,707
7 019
2 140
548
12,310
8 606
3 084
620
10, 820
7 836
2 407
577
11,974
8 478
2 876
620
11,547
8,333
2,649
565
15 946
11 947
2,644
1,356
1 304
995
213
96
1 300
981
217
102
1 339
997
238
103
1 °61
954
210
96
1 339
1 013
220
106
1 292
971
221
99
1 657
1 138
280
239
1 328
1 026
196
106
1 272
953
226
93
1 446
1 104
242
99
1 321
1 004
'219
98
1 461
1 093
264
103
1 346
1 030
222
94
Gold and silver:
Gold:
Monetary stock, U.S. (end of period).. .mil. $_. 13,733
13,159 13, 433
Net release from earmark §
do
-50
— 198
20
Exports
_ thous. $ 1,285,097 457, 333 101,534
Imports....
. _
do
42, 004
101 669
1 781
13, 332
-61
34, 334
2,426
13, 259 13, 258
— 50
162
5, 800 101.436
2 432
2 770
13,257
28
33 943
2 ^65
13, 159
-36
42
7 922
13,159
-34
58
9 054
13, 157
— 15
170
1 612
13, 107
-23
56
3 348
13, 107
12
285
1,494
13, 109
—3
162
2 326
13, 109
3
63
2, 239
13,110
89 1
89
91.2
89
89.1
Premiums collected:!
Total life insurance premiums
Ordinary
Group and wholesale
Industrial,
-
do
do
do
do
15 176
11 357
2^436
1 383
i
MONETARY STATISTICS
Production, world total
South Africa. _ . .
Canada
United States
Silver:
Exports
Imports
.
Price at New York . . _
Production:
Canada}.
Mexico
United States
mil. $
do
do
do
_
1,440.0
1 069.4
125 6
58.6
89 3
9 2
89.4
93
90 1
9 2
91 7
99
89 7
91
90 8
87
87 7
96
89 5
87
87 8
89
89 5
91
thous $ j 54 061 114, 325
do
78 378
i 64 769
dol. per fine oz .! . 1 . 293
1.293
18, 022
6 629
1.293
6, 638
7 055
1. 293
14 273
7 983
1. 293
16. 596
6 387
1 . 293
2 471
6 '>14
1.293
7,105
5, 878
1. 293
4 915
5 785
1.293
14 755
7 494
1.293
9 018
6 399
1.293
10, 693
6 136
1.293
thous fine oz
do
_
do
11 072 15,149
8 451 8 159
l! 293 1. 296
1.301
1. 593
31 917
40 333
44 423
32,820
41, 984
45, 047
2 694
4, 272
5,611
2 928
2, 74(5
1,912
•> 744
3 864
4 226
2 773
3 370
4 273
2 662
3 767
3 049
3 019
3 105
3 444
2 968
2 832
4 513
2 966
9 504
3 353
3 994
3 956
3 927
3 598
4 151
42 1
44.7
42.6
42. 7
42 9
42 8
43 1
44.2
44 7
43 4
43 6
43 6
43 7
44 4
44.7
169. 7
37.5
132. 2
153.7
5.0
168. 8
37.3
131.5
154. 1
(i. 3
167. 9
37.8
130 1
155. S
8. 2
166 9
37. 9
129 1
157 0
5.2
169.4
37. 9
131. 5
156. 9
4.4
170. 1
38. 1
132 1
156.6
4.8
171.0
38.5
132. 5
155. 6
3.7
175 2
39.1
136 2
156 3
3.5
174.6
38.4
136.2
160.0
4.2
170 0
38.3
131 7
163 3
5.1
171.3
38.5
132 8
166.1
4.9
173 1
38.6
134 5
168 1
4.8
170.5
38.9
131.7
170.2
6.6
173.8
39.2
134.6
172.3
4.0
175.2
39.5
135.7
174.4
5.7
169
37
131
155
169
37
131
156
170
37
132
157
169
38
131
156
6
0
7
8
169.2
38 0
131 2
156.8
170 3
38 3
132 1
158 0
169 6
38 5
131 1
160 5
170
38
131
163
4
7
7
2
172 8
38 9
133 9
165 3
172 1
39 0
133 1
167 3
174
39
134
169
176
39
136
171
0
3
6
7
177.1
39 4
137.7
173. 9
54.0
111.2
39.6
52,2
34 3
54.6
111.3
39.6
52.5
33. 9
56.9
121.8
40.0
53.2
34 2
57.2
124.7
39.4
50.9
34 8
55.6
119.4
39.4
52.6
34 2
54.8
117.2
39.1
51.2
33 9
57.7
123.0
40.8
54.2
35 1
54.8
115.2
39.2
52.0
33 9
56.5
120.0
40.1
53.4
34 4
56.8
119.8
40.7
55.5
34 5
r 4, 002
5,373
Ml $
Money supply and related data (avg. of daily fig.) :}
Unadjusted for seas, variation:
Total money supply
. _
bil $ !!
Currency outside banks. . _ _
do
Demand deposits _ _ _
do
i
Time deposits ad justed^
do
i
U.S. Government demand deposits
do
Adjusted for seas, variation:
Total money supply _ ^
Currency outside hanks
Demand deposits
Time deposits adjustedl
13, 108
2
1,080.8
114 6
Currency in circulation (end of period)
c
162. 6
35. 3
127 3
137.6
6.3
3
do
do
do
do
3
171 1
37 4
133 7
3
153 7
Turnover of demand deposits except interbank and
U.S. Govt., annual rates, seas, adjusted: t
Total (233 SM SA's) 9 - - ratio of debits to deposits
New York SMS A
do
Total 232 SMSA's (except N.Y.)
do
0 other leading SM S A'srf 1
do
226 other SMSA's ...
do
6
7
9
3
6
8
8
6
5
9
6
1
48.3
99. 6
35.3
44.9
31 3
52.8
109.4
38.3
50. 1
33.3
52.2
107.3
38.3
50.4
33 1
27, 521
1, 896
694
30, 937
2,102
702
8, 375
*525
194
7, 400
580
180
7 933
528
166
6, 748
451
105
338
753
3 188
4,442
761
970
1 401
345
911
3, 474
5, 055
799
1, 298
1,487
124
241
948
1 , 228
260
351
440
99
217
856
1 247
251
303
353
54
940
823
1 373
173
350
370
4
51
4 191
786
1 341
67
325
296
1 151
2, 499
1 926
1, 395
3, 058
2. 379
383
858
615
381
77''
601
318
748
617
321
674
527
721
3, 496
3, 285
821
3, 053
4, 058
239
948
1, 021
199
262
1,097
197
870
1 107
162
620
831
11,979
12, 958
3,188
2, 985
3 745
3,185
2, 764
632
702
673
799
52.9
106. 9
39.1
51.3
34 0
54. 0
111.9
39.0
51.5
33 9
54. 2
111.4
39.4
52.1
34 3
1
2
9
3
r
PROFITS AND DIVIDENDS (QTRLY.)
Manufacturing corps. (Fed. Trade and SEC):
Net profit after taxes, all industries
mil $
Food and kindred products. do
Textile mill products
do
Lumber and wood products (except furniture)
mil. $
Paper and allied products
do
Chemicals 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 transport, equip.)
mil $
Machinery (except electrical)
do
Elec. machinery, equip., and supplies
do
Transportation equipment (except motor
vehicles, etc.)
mil. $
Motor vehicles and equipment
do
All other manufacturing industries
do
Dividends paid (cash) , all industries
do
Electric utilities, profits after taxes (Federal Reserve)}
_ rail. $
Transportation and communications (see DD S-23
and S-24).
4
4
T
2 586
4
i
SECURITIES ISSUED
Securities and Exchange Commission:
Estimated gross proceeds, total
By type of security:
Bonds and notes, total
Corporate
Common stock
Preferred stock...
mil. $
40,108
45,015
5, 072
3, 676
3,249
do
do .
do
do
37, 836
13,720
1 547
725
42, 501
15, 561
1 939
574
4,261 ! 3, ->97
3, 539
975
1,616
1,575
40
70
737
74
70 !
67
3,183
1,333
61
6
3.407
2,518
6,686
3,277
5,091
7,523
5,253 ' 4, 229
6, 574
7 367
5 110 r3 991 r3 844
5 000
3 151
5 043
1,004
1,262
2,219 '1,778 '1,361 2,343
1.535
1,593
r 94
61
139
119
106
40
111
313
r 47
50
^0
17
24
r 144
17
51
for premiums collected, for 1964 for silver production (Canada), and for 1965 for electric utilities will be shown later; revisions for money supply and related data for 1959-July 1965 appear
in the Sept. 1966 issue of Federal Reserve Bulletin.
§ Or increase in earmarked gold ( — ) .
*f Time deposits at all commercial banks other than those due to domestic commercial banks
and the U.S. Govt.
f Revised series.
9 Total SMSA's include some cities and counties
not designated as SMSA's.
d"Includes Boston, Philadelphia, Chicago, Detroit, San
Francisco-Oakland, und Los Angeles-Long Beach.
2, 381
755
106
31
SURVEY OF CURRENT BUSINESS
S-20
1965
Unless otherwise stated, statistics through 1964
and descriptive notes are shown in the 1965
edition of BUSINESS STATISTICS
1966
1966
Annual
August 1967
June
July
Aug.
Sept.
1967
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
FINANCE—Continued
SECURITIES ISSUED— Continued
Securities and Exchange Commission— Continued
Estimated gross proceeds— Continued
By type of issuer:
Corporate, total 9
mil. $
Manufacturing.. ._
do
Extractive (mining)
_
do _
Public utility
do
Railroad - . _. do. _
Communication
do_._
Financial and real estate
do
2,427
1, 168
53
330
16
279
283
1, 085
404
43
288
21
52
166
1,712
540
28
318
284
947
4 276
18 074
7,070
375
3,665
339
2,003
1,941
do
do
do -
24 116
9 348
11.148
26 941
8,231
11,089
2, 645
397
1,118
do
15 801
17, 841
_ do
do
do
_ do_ .
do
13,063
7,712
5,352
996
1 741
.do,..
do
11,084
6 537
321
114
1.400
650
55
82
29
200
309
892
385
6
258
12
98
73
1,115
233
25
335
10
170
108
1 661
682
17
414
15
154
42
1,684
649
27
222
51
296
267
1,418
570
15
279
20
106
248
2,362
1,283
35
510
42
147
92
o 309
411
678
1, 964
387
764
1,849
402
992
1 626
408
736
5,570
3,738
950
1,616
373
923
3 407
494
1,450
6 105
4 154
1,159
2,891
459
1,437
2, 391
1,071
1, 688
1,384
876
1,098
1,643
1,669
1,400
2,334
r
15, 806
12, 430
3,376
241
1,795
2,245
1,786
459
27
119
932
667
265
32
106
1,617
1,353
264
18
53
1, 114
•)
268
783
630
153
46
46
1,033
839
194
12
52
1,363
1,128
235
8
273
1,522
1,135
388
21
125
1,375
918
457
1
•M
2, 1.78
1,755
423
17
139
'1,891 '1,418
1,082
1, 352
' 539
'336
12
19
' 56
82
11,089
6,524
1,118
384
678
174
764
620
992
362
736
266
950
989
923
458
1,450
454
1,159
756
1,437
634
1,129
1,197
1,209
951
' 1,461
'531
!609
5, 387
1, 637
3, 712
601
5,798
1,658
3,809
622
5,700
1, 595
3 786
658
5, 645
1,595
3,785
636
5, 400
1, 528
3,537
661
5, 216
1,520
3 349
607
5,275
1,532
3,262
609
5, 387
1,637
3,712
673
5, 375
1,914
3 187
685
5,445
1,936
713
5,803
2,135
701
5,896
2 078
673
5, 966
2, 220
688
6, 195
2,243
93.9
110.6
86.1
102.6
87.0
103.2
86.0
100.9
84.1
97.7
82.6
98.6
83.4
100.5
83.5
101. 0
83.0
102.4
85. 9
106.0
86.4
106.4
85.6
105. 8
85.4
104.9
83.4
101. 1
81.7
100.2
83.76
78.63
78. 93
77.62
77.02
77. 15
78.07
77.68
78.73
81.54
80.73
80.96
80.24
77.48
76.37
3 794 22 4,261.12
3 288. 68 3,740.48
312. 44
258. 46
254. 63
222. 05
306. 60
291. 76
322. 01
315. 08
341. 50
348. 44
312. 46
313. 01
366. 38
356. 22
446. 77
417, 53
409.22
350. 65
478. 39
394. 94
381 00
333 15
534. 32
451.62
539. 46
464. 38
3 643. 11 4,100.86
3 150. 16 3,589.62
301, 98
248. 57
247. 12
215.03
295. 65
279. 97
312. 43
304. 96
332. 34
338. 21
293.69
293. 70
348. 01
335. 45
428. 29
400. 29
385. 34
330. 33
451.87
374. 71
349 76
309 72
484. 92
413. 73
463. 58
406. 43
New York Stock Exchange, exclusive of some
stopped sales, face value, total
mil. $.. 2, 975. 21 3, 092. 79
208. 88
169.94
273. 90
232. 94
286. 55
260. 68
285. 40
328. 21
258. 78
281. 42
279. 94
329.41
326. 62
Noncorporate, total 9
TJ S Government State and municipal
New corporate security issues:
Estimated net proceeds total
Proposed uses of proceeds:
New money, total
Plant and equipment
Working capital
Retirement of securities
Other purposes
State and municipal issues (Bond Buyer) :
Long-term
. .. .
. .
Short-term
15 992
5 417
342
2, 936
887
'>9y
'r 2 015 ' 1 518 2 674
1, 153
'598
1 334
••29
40
30
'426
477
'401
r
12
27
33
'109
'92
354
r
143
102
149
2 213
393
1, 129
1 985
2 483
438
1,209
9
700
410
1 461
' 1, 493 2 631
2, 363
1, 832
531
20
248
888
286
SECURITY MARKETS
Brokers' Balances
(N.Y.S.E. Members Carrying Margin Accounts)
Cash on hand and in banks. _ _
Customers' debit balances (net)
_..
Customers' free credit balances (net)
Money borrowed
1
534
5, 543
i1 1,666
3 706
mil. $
do
do
do
1
1
1
1
Bonds
Prices:
Standard & Poor's Corporation:
Industrial, utility, and railroad (AAA Issues):
Composite c?
dol. per $100 bond..
Domestic municipal (15 bonds)
_ _ . do
U.S. Treasury bonds, taxablel
do
Sales:
Total, excl. U.S. Government bonds (SEC):
All registered exchanges:
Market value
mil. $
Face value ._
do
New York Stock Exchange:
Market value
do
Face value. _
do
Yields:
Domestic corporate (Moody 's)_.
percent
By rating:
Aaa__ - - - - . do - .
Aa
do
A
.
do
Baa
do
By group:
Industrials. _
do
Public utilities. _ _
_ _ . do
Railroads
do
Domestic municipal:
Bond Buyer (20 bonds)
do
Standard & Poor's Corp, (15 bonds)
do
U.S. Treasury bonds, taxable©
do
76. 39
358. 94
4.64
5.34
5.28
5.36
5.50
5.71
5.67
5.65
5.69
5.50
5.35
5.43
5.42
5.56
5.75
5. 80
4.49
4 57
4.63
4.87
5.13
5.23
5.35
5.67
5.07
5.16
5.29
5.58
5.16
5.25
5.36
5.68
5.31
5.38
5.48
5.83
5.49
5.58
5.69
6. 09
5.41
5. 50
5.67
6. 10
5.35
5. 46
5.65
6.13
5.39
5.48
5.69
6.18
5.20
5.30
5. 53
5.97
5.03
5.18
5.38
5.82
5.13
5.23
5.49
5.85
5.11
5 26
5.46
5 83
5.24
5.42
5.60
5.96
5.44
5.63
5.77
6.15
5. 58
4.61
4.60
4 72
5.30
5.36
5 37
5,25
5.32
5.26
5.33
5.39
5 37
5.49
5.54
5 48
5.71
5.78
5 65
5.63
5.72
5 67
5.59
5.64
5 72
5.63
5.65
5.78
5.45
5.42
5 63
5.33
5.25
5 48
5.39
5.37
5.51
5 37
5.37
5 51
5.46
5.59
5 62
5.64
5.80
5 80
5. 79
5.91
5 88
3.28
3.27
3.83
3.82
3.83
3.77
3.96
3.94
4.24
4.17
4.03
4. 11
3.74
3.97
4. 02
3.93
3.77
3.83
3.40
3.58
3.60
3.56
3.54
3.60
3.69
3 66
3.96
3 92
4.06
3.99
3. 91
4.21
4.66
4.63
4.74
4.80
4.79
4.70
4.74
4.65
4.40
4.47
4.45
4 51
4 76
4.86
4.8(5
7.65
8.48
3.86
4 09
4.90
6.33
8.25
9.17
4.11
4 45
5.06
6.85
8.26
9.18
4.10
4 39
5.14
6.65
8.28
9.19
4. 12
4 44
5.14
6.65
8.30
9 22
4. 14
4 53
5.14
6.90
8.30
9.22
4. 14
4 53
5.14
6.97
8.33
9.25
4.14
4 55
5.14
6.97
8.22
9.07
4.15
4. 61
5.14
7. 42
8.23
9.08
4.18
4.61
5.14
7.53
8.29
9.15
4.18
4 63
5.22
7.53
8.30
9.16
4.20
4 63
5.28
7.81
8.32
9.17
4.27
4.63
5.28
7.81
8.33
9.18
4 27
4 63
5.28
7.81
8.19
8.95
4 32
4 63
5.28
7.81
8.20
8.95
4 38
4 63
5.29
7.81
X. 21
S. 9<>
4 39
4 65
5. 29
7. SI
250. 31
284. 32
117.08
95 06
230: 88
266. 77
102. 90
92.65
230. 25
267.22
99.95
92 58
227. 17
262. 90
101.03
89.63
211.05
244. 39
92.51
81 92
207. 74
239. 01
94.57
80 17
220. 60
250. 49
104. 92
83 37
218. 34
248. 93
103. 47
83. 25
217. 56
246. 38
105. 99
82. 91
233. 54
266. 77
108.12
93 13
233. 23
267. 35
105. 18
92.56
242. 02
278. 90
106. 81
93.52
251,52
293 28
108 90
93 go
238. 37
277 83
102, 58
94 89
242. 22
282 15
100. 73
97 92
252. t>9
298 94
103. 04
105 56
4.00
3.86
4.38
5. 65
4.67
3. 15
3.78
3.69
3.95
5.46
3.96
2.70
3.76
3.64
4.01
5.54
3.90
2.92
3.78
3.69
3.94
5.56
3.80
2.92
3.55
3.43
3.87
4.97
3.79
2.93
3.56
3.43
3.99
5.00
3.94
3.17
3.44
3.29
4.00
4.95
3.84
3.28
3.31
3.13
3.92
4.95
3.83
3.31
3.44
3.22
4.21
4.88
3.96
3.51
3.39
3.17
4.35
4.73
3.98
3.43
3. 25
3.00
4.26
4.41
3. 68
3.53
5.88
(I 20
Stocks
Dividend rates, prices, and yields, common stocks
(Moody's):
Dividends per share, annua Irate, composite
dollar s_Industrials
_ do
Pub lie utilities
do
Railroads
do
N.Y. banks
do
Fire insurance companies
do
Price per share, end of mo., composite
Industrials
Public utilities.Railroads
do
do
do
do
3.64
3.06
3.57
3.59
Yields, composite
percent. .
3.44
Industrials _ _
do
2.98
3.44
3.50
3.99
4.10
4.08
Public utilities
_ do. 3.30
4.74
4.95
4.30
4.80
Railroads
do
4.30
3.33
4.04
N.Y. banks.
. _
do
4.18
2 92
3.05
2.98
2. 74
Fire insurance companies
do
l
' Revised.
End of year.
9 Includes data not shown separately.
cfNumber of bonds represented fluctuates; the change in the number does not affect the
continuity of the series.
3.93
3.77
4.48
5. 58
4.85
3.22
^Prices are derived from average yields on basis of an assumed 3 percent 20-year bond.
OFor bonds due or callable in 10 years or more.
SURVEY OF CURRENT BUSINESS
August 1967
Unless otherwise stated, statistics through 1964
and descriptive notes are shown in the 1965
edition of BUSINESS STATISTICS
1965
S-21
1967
1966
!1966
1
Annual
June
July
Sept.
Aug.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
FINANCE—Continued
SECURITY MARKETS—Continued
Stocks— Continued
Earnings, common stocks (Moody's):
Earnings per share (indust., qtrly. at ann. rate;
pub. util. and RR., for 12 mo. ending each qtr.) :
Industrials t
dollars
Public utilities
do
Railroads
do
16 49
5 92
8 16
16 78
6 30
9 34
17 83
6 08
8 98
Dividend yields, preferred stocks, 10 high-grade
(Standard & Poor's Corp.)
percent..
4.33
4.97
4.93
Prices:
Dow-Jones averages (65 stocks)
Industrial (30 stocks) _ _ .
Public utility (15 stocks)
Railroad (20 stocks)
318. 50
910. 88
157. 88
216.41
Standard & Poor's Corporation:^
Industrial, public u t i l i t y , and railroad:
Combined index (500 stock^)
1941 43 — 10
9
Industrial total (499
5 stocks) 9
Capital goods (I stocks)
Consumers' goods (181 stocks)
Public utility (55 stocks)
Railroad (20 stocks)
Banks:
New York City (10 stocks)
Outside New York City (16 stocks)
Fire and casualty insurance (90 stocks)
308.
873.
136.
227.
70
60
56
35
311.51
888. 73
134. 07
229. 24
14 12
6 19
9 13
5.00
308.
875.
133.
227.
07
87
72
18
5.18
286
817.
126.
207
45
55
68
91
5.23
5.28
5.21
5.24
276. 79
791.65
1 26. 20
197 05
273. 35
778. 10
129. 70
192. 07
285.23
806.55
136. 43
201. 94
285. 52
800. 86
135. 68
205. 78
16.10
6.42
14.70
6.37
8.85
18 08
6 30
9 34
5.07
298. 28
830. 56
138.64
220. 1 1
4.98
5.04
5.03
5.17
5.30
305. 65
851. 12
138. 03
228. 69
307. 70
858. 11
135. 96
231. 98
309. 45
868. 66
139. 29
228. 77
315. 57
883. 74
137. 15
238. 27
318. 12
872. 66
131. 92
253. 90
327. 23
888. 51
132. 72
267. 65
88 17
85 26
86 06
85 84
80 65
77 81
77 13
80 99
81 33
84 45
87.36
89.42
90.96
92.59
91.43
do
do
do
do
do
93 48
85 26
81 94
76 08
46. 78
91
84
74
68
46
99
87
73
67
46
91
86
73
67
45
86
79
69
63
42
83
74
67
63
40
11
74
89
11
31
82 01
72 67
66 67
65 41
39.44
86 10
77 89
68 25
68 82
41.57
86
79
67
68
41
50
83
76
86
44
89 88
82 70
69 97
70 63
44.48
93.35
86. 72
73.78
70.45
46.13
95.86
90.08
75.10
70.03
46.78
97.54
92.37
77.53
71.70
45.80
99.59
95.10
79.13
70.70
47.00
98.61
96. 34
78.94
67.39
48.19
do
do
do
38. 92
71 35
64 17
33.32
63 80
64 55
32. 39
61 3°
61 64
32,50
629 38
6 63
30.09
59 33
61 98
28. 87
57 449
59 o
32. 30
61 04
63 68
34. 34
65 05
68 69
35.93
67 03
70 50
37. 08
69 90
70 03
35. 62
67. 09
68 99
35.32
66.00
65. 86
36.01
66.56
64 86
35.43
65.81
62 60
35. 35
63.97
61.34
47.39
46. 15
46.18
50.26
45 41
44.45
46. 61
46 85
53 55
44 54
44 31
46.47
46. 66
53. 04
44.79
43.53
43. 72
43 89
48.
66
49 33
41 46
-11.99
41.99
44. 51
41 74
39. 50
41.50
41. 03
42 24
43 33
40.23
43. 73
43. 28
45.82
45. 16
43.16
44. 16
43.79
48.23
44 77
44.43
46. 02
45.61
51.38
46.43
47.53
47. 80
47.72
52. 56
47.03
48.71
49.02
49.02
55.19
47,, 88
48.17
49.92
50.19
54. 60
48.07
48.37
51.00
51.78
55.76
47.20
48.17
50. 54
51. 55
54.97
45.95
47.51
89 225
2, 587
123 034
3,188
9 661
~298
8 301
200
9 663
236
8 750
215
8 658
223
8 102
219
9 538
266
11, 653
320
11,181
316
14, 515
418
11,777
323
14,411
397
13, 891
374
73, 200
1,809
98, 565
2, 205
7, 772
162
6, 655
141
7, 805
168
7,272
161
7,209
166
6, 638
162
7, 662
189
9,320
224
8,792
216
11,465
268
9, 232
206
11,335
257
10,801
243
1,556
1,899
141
120
m
120
146
146
166
208
183
225
188
219
213
217
537. 48
10,058
482. 54
10,939
502. 41
10,612
497. 11
10,733
458.66
10, 787
454. 89
10,818
475. 25
10, 842
480. 88
10, 886
482. 54
10, 939
522. 75
10, 989
527. 04
11,046
549. 49
11, 073
572. 64
11,114
546. 65
11,199
559. 50
11,277
586.41
11,326
New York Stock Exchange common stock indexes:*
Composite
12/31/65 = 50_ _
Industrial
do
Transportation
do
Utility
do
Finance
do
Sales (Securities and Exchange Commission):
Total on all registered exchanges:
Market value
mil $
Shares sold... _ ._
millions
On New York Stock Exchange:
Market value
mil $
Shares sold (cleared or settled)
millions..
Exclusive of odd-lot and stopped stock sales
(N.Y.S.E.: sales effected) ... - millions
Shares listed, N.Y. Stock Exch., end of period;
Market value, all listed shares
_ . _ . _hil. $^
Number of shares listed
millions
08
86
10
21
34
14
34
75
51
35
95
38
87
30
50
40
81
91
41
12
51. 67
53. 13
57. 30
44.87
49. 85
FOREIGN TRADE OF THE UNITED STATES
FOREIGN TRADE
Value
xports (mdse.), incl. reexports, totalQ
Exci. Dept. of Defense shipments.
Seasonally adjusted
By geographic regions:A
Africa
Asia
Australia and Oceania
Europe
mil. $_- 27,478.2 30, 336, 0
..do..- 26,699.5 29, 395. 5
.__do.___
r
2,568.6
2,426.7
2,489.5
2,456.0
2,431.0
2,455.0
2,541.6
2,414.7 2, 620. 2 2, 601. 2 2,569.1
2,582.7
119.3
611.5
75.4
812.6
87.5
601 6
78 4
820. 0
113.9
6599 7
8 8
936. 5
115.3
608 6
76 7
892. 8
539. 1
191.9
199.8
537 7
177 6
186 9
638 6
°05
1
9
07 9
r (505 9
T
193 8
9
03 7
684 6
00 8
1889
12.3
34.9
50.5
7.8
34 4
7.5
43 2
11.3
40 7
10.8
3° 0
63.7
53.0
25. 3
3.4
50. 3
78.3
27.1
3.9
66.2
100.
32.8
3.5
70.1
84 4
30.7
5.0
68.0
82 8
44.7
4.2
5.5
32. 8
218. 2
7 9
28!l
231. 5
10. 8
38.7
235. 4
6.
33.8
207.1
44
31 0
18 °
10 3
35 9
"8 1
53
36 8
"5 9
46
35 7
"1 5
84.3
1.5
138. 2
87.3
1.6
124.2
86.4
2.0
130.6
87.6
1 6
198 5
108.6
1.1
141.8
47
179 0
92. 5
59
163 1
95.5
35
151 3
77.9
6.6
143.1
76. 6
2.2
165.2
76.
4.4
145.4
78 8
87
88 7
71
34
82 4
5 2
146.9
121. 1
578.8
65.4
813. 2
106. 7 i 109.1
577.3 I 550.4
74. 1 ! 73. 8
746.9
727.8
109.1 | 126.1
541.3
614.9
65.8
72. 7
808.4
826.2
119. 6
570.8
72.6
863. 6
...do.— 5, 643. 2
...do— 2, 099. 1
2,174.9
do
6, 644. 8
2, 268. 1
2, 504. 3
607. 2
187.8
196.4
507.
188.'
227.
502. 7 I
174. 5
210. 3
581. 6
193. 6
199. 3
621. 3
213. 9
220. 2
597. 6
198. 6
204. 1
do
...do....
157.7
438.1
189.1
401.0
24.3
31.3
13.2
37. 2
16.5
31.1
12.7
32. 5
15.3
41.2
13.0
33.4
Asia; Australia and Oceania:
Australia, including New Guinea... ...do....
India
do
Pakistan. .
do
Malaysia
_
do
799.4
928 0
335. 9
91. 1
662.9
929.3
238. 7
145.7
54.7
71.5
17.4
4.0
60. 8
68.3
31.8
3.7
63.3
83.4
14.9
3.8
54.7
74.3
20.4
3.9
57. 2
71.9
27.1
4.1 j
41.6
348. 5
2, 080. 2
59.9
348.0
2, 365. 1
3.0
30.5
190. 7
8.7
27.6
175.9
4. 1
29.1
204.7
6.6
27.8
205.1
970. 7
do
12.4
do
...do.... 1,649.6
1 , 007. 1
24.9
1, 674. 0
80.7
.6
134. 2
124.6
67.8
1.8
131.6
87.1
3.3
138.9
By leading countries: A
Africa:
United Arab Republic (Egypt)
Republic of South Africa
Indonesia
Philippines
Japan
Europe:
France
East Germany
West Germany
do
do
do
do
do
do
do
Italy
76. 2 | 67. 1 i 70. 6
891 1
913.7
do
5.2
2.8
.5
45.2
41.7
Union of Soviet Socialist Republics, ...do....
131. 2 i 132. 2 i 119. 0
United Kingdom
...do.... 1,615. 1 1, 736. 7
r
Revised.
j> Preliminary.
i Beginning Jan. 1966, excludes data for Singapore.
^Revisions prior to Sept. 1965 will be shown later.
^Number of stocks represents
number currently used; the change in number does not affect continuity of the series.
9 Includes data not shown separately.
*New series; index is based on the closing prices
of the more than 1,250 common stocks listed on the Exchange.
O Beginning Jan. 1965, data
2,659.4 2, 544. 8 2, 583. 5
I
1,228.9 1, 348. 6
6, 012. 1 6, 727. 4
814.1
956. 2
9, 363. 9 10,011.4
Northern North America
Southern North America
South America
2, 549.6 2, 489. 6 2,835.9 2,717.0 2, 730. 9 2, 680. 6
2,471.3 2, 419. 4 2,797.4 2,666.6 2, 686. 2 2, 617. 2
2, 695. 3 2, 627.1
2, 572. 0
79.1
74. 0
1.0
156. 5
1.3
141.1
122. 2
637. 8
75.8
842. 4
9
' 68. 2
80 7
25. 2
3.5
118.9
582 2
78 4
877.8
9
65. 8
84 5
14.3
3.1
1 65. 1
173 6
163.5
reflect adoption of revised export schedule; in some instances, because of regrouping of commodities and release of some "special category" items from the restricted list, data for commodities and countries are not comparable with those for earlier periods.
ABcginning
with the Jan. 1967 SURVEY, data for regions and countries (except India and Pakistan) are
restated to include "special category" shipments formerly excluded.
SURVEY OF CURRENT BUSINESS
S-22
August 1967
"
1965
Unless otherwise stated, statistics through 1964
and descriptive notes are shown in the 1965
edition of BUSINESS STATISTICS
July
June
Annual
1967
1
Mar. i Apr.
1966
I 1966
Sept.
Aug.
Oct.
I
1
! Nov. 1 Dec.
Feb.
Jan.
May
June j July
!
FOREIGN TRADE OF THE UNITED STATES—Continued
,„.
.
I>atin American Republics, tota!9
do
Chile
Colombia
Cuba
Mexico,
do..._
._
_.
. . _._
do
do
__do_
Exports of U.S. merchandise, total Ol
Excluding military grant-aid
Agricultural products, total
Nonagricultural products, total
607.2 ! 507.7 .j
3,871.7
4, 234. 9
341. 7
967 1
347, 9
237.4
244.3
579. 4
255. 2
198. 5
0)
1,105.9
... 6
6^5
287. 0
0
1, 180. 2
598.0
517. 0
1
Northern North America
Southern North America
.
South \rneri<~ > a
By leading countries:
Africa:
United Arab Republic (Egypt)
Asia; Australia and Oceania:
Australia, including New Guinea
India
Pakistan
.Malaysia
Indonesia
Philippines
Japan
Europe:
France _ _
__.
East Germany
West Germany
j tai y
"
Union of Soviet Socialist Republics
United Kingdom
North and South America:
Canada
Latin American Republics, total 9
372. 5 i 342, 8 j 346. 0
19. 4 j
54. 0 l
21.8 ;
16.2 !
34.9 |
23.4 1
25.6 ! 28. 5 !
0
:
0
i
96.8 ! 101.6 !
52.1 i 56.5 i
19.3 ;
55.8 ;
22.5 i
24.6
0
89.4
46.1
4, 566. 7
158.9
3,189.3
623. 7
383. 3
16.5
47.4
15.7
539.0
537.6
638.5
r 625. 8
350.0
400.0
347.6
319,4 ; 360.7
351.3
336.5 !
19.0
42.8
21.7 !
i
19. 2 i
0
i
102.8 i
49.0 !
19.8
53.5
23.6
17.3
40.9
21.2
18.3
38.3 !
20 9 !
23. 1 ! 16. 8
0
!
0
90.8 I 105.4
43.0 | 44.4
13.4
0
101.2
55.6
inq
lUo. (\
0 'i
26.7
42.1 i
19.2 !
37.6
63.6
24.8
! 22.5
23.6
'
0
0
' 101.5 113.6
\ 53. 5 ! 52.4
22. 2 1
23. 3
o
!
o
98.4 1 103.4
46.6 i 49.9
394.4 ! 352.1
17.0 1
11.6
269.0 i 241.2
39.6
255.3 ; 210.7 : 230.4
225.5 !i 286.1 : 337.9 ;
22. 1
18. 3 ;
39. 8 1
40. 4
34. 9 ! 59.7
67. 7 i 40. 7 : 36. 7 •. 18. 7 '. 92. 0 1 124.7 :
35.1
37.9 i 40.6
36, 9 j 40.7 ; 42.2
312.2
72.4
85.5
31.2
276.7
56.6
67 2
29.8
49. 4 i
62.1 j
71.2
74.7
73.9
\
471. 6
?-r»6. o
32.3 '
29.1
33.8 '
26. 7 |
21.6 '
27.7 |
32.6
21.4 i
32. 2
• 3, 256. 9
' 527^ 8
;
629. 0
539. 3
! 6,702.1
1
634. 1
; 331.7
932. 9
1,659.7
273,0 ; 277.4 i 294.6 1 276.1 i 294.8
42. 4 ; 44. 3 I
48. 5 ; 47.3 i 50.6
47. 8 i 54.8
40.3 i 41. 7
48.5
35. 1 : 40. 0
52.0 i 44.6
45.2 •
1
3,445.0
<• 1.975.5
3,714-6
2, 386. 5
21,365.6 25, 550. 3
do
do
do
do
do
i 877,6
| 4,528.1
!
453. 1
j 6,292.2
978. 0
5, 278. 7
593. 5
7, 863. 9
do
do
do
4,837.1
! 1,741.7
! 2,623,8
6,131.2
1, 912. 2
2, 785. 2
do
!
i
16.1
2°5. 9
i;.ti
313.7
;
34R. 1
!
44.8
! 211.9
;
165. 2
i
369. 1
; 2,413.9
39K "
237.0
67. 8
2176.7
179.0
307. 6
2. 964. 5
305 2
184.8
623.4
54.9
25 9
85. 5
154 0
!
259. 1
1623
r
551.9
601 2 ' 6">. . 5
44.2
44.5
4<> 1
26 5
27.8
;'!.()
74. fo 72. 4
**» 6
Ho. 8
163.2
173 2
243. S
149.8
284. 3
200.4
3S4 3
24',, 5
619.6
669.0
44 9 ' 46. 2
lif 8
34. 3
87.3 i
82.1
H-4 * ; 169.9
381.0
247.5
318 1
241 5
554.6 'i 477. 1 : ! 51 «'>'.'
155,5 i 149.6
156.0
230,7 i 236. 1 ! 212 4
AO
21. 9
i. i
23. 1
50. L26. 9
5. 1
13 0 (
18. 2
35. 2 i
245 9
;!<>.?,
23 0
t>. o
J'.' 9
117
4-) (i
2,)0. 5
.6
15. 5 i
538.4
135.9
271.2
560.9
107.3 '
254.9 •
1. 1
34 4
.3 !
15- 0
53H. 4
627. 0
154.4 • 168.7
224.1
214.4
1.2
10. 4
:
:
.9
22. 9
i
Gi5. 3
do
do
!
0. 5
do
!; 1,341.4
do. . . _ 619. 7
!
42.6
do
do
l 1,405.2
OQS 0
s!2
1,796.8
74?. 0
49 4
1, 785. 6
58. 5
.»,
151 3
64 9
4. f,
144. ]
do
6, 124. 7
554.3
4"'). 4
do
i 3,674.8
Argentina
do
| 122. 1
Brazil
do
1 512.4
Chile / J - ^ / . ~ ~ ~ I ~ ~ ~ ~ ~ ~ " ~ ] " ~ " " " ~ ~ ] ~ d o ~ I ~ . j 209. 4
3, 969. 9
148.8
599. 7
229. 1
653.7
53 9
28.2
S2 4
105.6
!
;
33.4 i
3
•
'
54.2 !
46.4
326. 1
14. 5
48.1
17.9
327.9
!
<
:
i
11 3 i
42.3 '•
20. (i i
M;>. 0
301.0
12.4
25. 5
17,4
;
:.37.4!
560,1
536.3
627.4
351.3 !
354,8 :
324.9
317.8
12.0 I
87.8 i
24.9 ;
11.5 1;
79.3
19.6 ;
13. 1 1
46. 7 !
21.3 |
12.3
42.4
14.8
!
291.7 ! 275.3
48. 7 ;
61. 1 i
,
47.3 .
•_..
84.4 !
42.0 I
38. 6 i
48.3 ;
40.1 ;
93. 3 ;
29. 2
32.1
94. 5 '
.
:_.
...
38.9 ;
1
240. 2
! 298.6 ;
;
"
!
''•
:
;
959.6 1 1,157. 2 11,116.9 il,115.5 ; 1,088.1 ,
i 643.0 ; 741.9
i 57. 7 ! 69. 6
! 25. 9 i 30.0
'
86. 5 ! 96. 4
• 166.0 \ 188.6
726. 3
64. 1
32.9
95.8
185. 6
i
i
i
i
i 740.0 :
! 71.9 L
i
28.9
! 97.3
I 182. 1
390. 6 352 2 ; 316.6 ! 415.3
226. 2 ; 201. 3 ' 254. 1 i 241.0 i
544. 4 I
59f. 8 • 497. 7 i 597. 8
181 0 ; 163.5 ! 201.2 i 170. 4 1
257,7 ! 217.9 ^222.8 ! 214.9 i
i
.7 I
15.0 1
36. 6
28.5
7.6
17. 7
12.2
29.0
257.4
!
208^9 |".\ ....";"".""".'
!
!
!
i
I
!
^8.3 |
2.1 i
.6 ;
.9
27. 7 ! 21.9 !
30 2
21.1
4.8
10. 8
15.3
22.9
193.2
49.5
|
35 1
i 27. 2
23.4
i 29.4 i
4.1
i
6.4 j
16. 1
1
18. S i
13.7
1 17.5 i
! '36.3 ! 34.3
; 251.5 | 228. 7
i
:
.4 ;
57.9
.3
172.2
57.7
6. 4
147.4
j H2.8 ! 160.3
i 61.Q ! 77.7
|
1.9 l
6.0
! 133.7 | 147.1
526.3
497.6 ! 597.5
365.9 | 319.8
14.8
52.1 I
14.7 i
1
25.3 !
0
!
70.3 i
100.7 :
!
19' 2
52.8
!
o
i 131.' 7
| ,66.1
I
2.4
: 123.5
j
!
!
!
j
j
!
!
I
i
544. 3 \
344.6 ; 331.7 i
10.4 !' 13.5 i
36.0 ! 43.2 1
25.8 ; 11.4 i
i
I
18.8 ! 18.9
0
i
0 I
65.2 ! 70.5 j
82.0 '
85.9
9.6 I
38. 4 1
15.5 i
..-
:
'
375.4 243.5
--
2,lhS.6 2,072.0 2, IsC 2 -'.294 2 2. 27«. 4 J, "~>7 7 : 2,240.1 > •>(?! 8 '2,003.5 12,355.9 i 2,091.1 '2,222.4 2.277.4
2'l3"» 0 2,204612,112.6 2.301.2 2,262.4 , 2,191.5 : 2,23). 2 >*295. 6 1 2,204.1 : 2, 184. 7 j 2, 224.0 ,2,118.6 .2,228.2
1
i
i
78.4 !
76.9 |
84 6 i 94. 7 ! 95. 6 i
69. 8
79. 8
75. 7 i 79 4 !i 75. 0
90. 0
72. 9
460 ? ! 359.9 1 463.5 | 421.4 i 441.5 i
449.8 ' 448.8
51s. 7
507.7
438,9 ! 471.9 | 405.2
43 -j i 40 i
47 4 ! 41. 2 '
44. 9 ! 46. 7 ! 33 4
69. 0 i 50. 8 ! 57. 1
64. 3
54. 0
608. 5 \ 661.5 ;
702^7 i 628.0 ' 729.8
656.8 | 629.3
f 44. h
684.7
728.7 , 757. 7 i 702. 1
'"•*S Q :
''^ Q
,<,". 4
44. i ;
43.0
27. 3
30. 5 :1
29. 6 '•
25. 5 ' 27.4
4. 5
6 1
6. 3
5.4 :
4.7
IS. 2
16.4
13.4
19.1 :
13.8
J6. 1
15 1
13. 0
13.1 {
14.9
39. '.,
45. 2 ; 22. 2
33. 3 ! 23.3
Mi 9 ' 281.5 ; 255.8 ; 272.9 ; 227.6
t
1
;
66.6 '
56.5
5h 4 ' 60. 1!
56. 6 : 65. 0
.8 !
.4
>
,^
1.2 ;
1.0 i
J4IM
H4. 0
J69. 4 ; 163. 3 : 175.9 ! 163. 5
73. 6 i 66.2
til •>
71. >
60 4 :,
71. 1
5 n
fi
1
,*. 1
4.4
4.0 ,
4. 1
13,\ h
KS 4
Ifiii u
174.6 ; 178.7 | 165.5
! 4,831.9
13
234. 2 ! °49. 0
227. 1 i 215. 2 i 242. 5
!
!
289.9 :i 285.6 i 325.5 ;; 309. 3 \ 293.7
44. 9 ! 45.6
48 0
42. 1 ! 47, 4
50.2 ;
48. 1
57 1
52,8 ! 54.5 1
o. 7
47.1 \ 49.5 ' 61.5 | 55.9 ;
885.5 .1,039.8 ! 937.7 i 1,050.0 1,005.9
935.3 ! 882.5 '. 795.7
630.2
56.8
28.5
79. 6
161.3
218.0
218.1 j 235.9
227.7
282.3 '
43 0
43.5
58.3
7, 445. 9
628. 5
337,9
970. 6
1,898.8
218.5
1
242. n :
290.7
47. 6
47.9
47.3
_ |!
333.3 ! 335.9
59.2
47.6
81.4 i 76.4 !
39. 1 i 33. 3 !
36.9 ; 38.0
total
mil. $.. 10,147.1 11,164.3
do
do
do
do
do
...do
do
41.3
68.9 l
29 3 !
31,2 1
•J3VJ
.. -
48.6 !
.! 280.7 ! 288.2
263.0
34. 2
! 53.8 ! 47.9
;
62. 9 i
54. 2 ,
65. 3
! 34. 7 | 47.3 j 41.7
75.9
34. 2
38.5
2, 675. 9
...
!
!
'
1
'
I
16 7
0
|
327.8
11.6
212.1
82.5
42. 1
37.2 ;
3. 434. 2
554 2
557. 5
582 4
__
L-
! 2, 801.1 2, 680. 9 2,697.9 '2,648.8 L... .. .
2,762.6 2, 630. 5 2,653.2 l 2,585.4 !
543.9
524. 2
: 552.2
2,248.9 2, 156. 7 2,154.0 i
334.4 ! 308.2
358.3
1 1.0 ! 12.8 1 12.9
228.0
196.9 i 242.5
78.5
33.9
25.9
39.5 !
16.0 i
'2,655.6 2.593.5 2,689.0 2 516.7 2,459.7
2, 586. 4 2,538.4 '2,618.1 2,438.4 2,389.5
531.6
513.6
697. 7
632. 0
: 621.7
,2,033.9 1,895.8 ,2,057.1 1,985.1 1,946.1
398.2 ! 393.5 i
14.2 ! 18.6
273.9 | 260.5
l
583. 7
21.7
51.9
17.8
377.7 j 346.5 l 386.3
12.4 i 11.3 :
13.8
266.9 ; 248.9 : 277.7 i
|
684.5
597. 6
92.0 i
48. 6
41.0
do. . . .| 2,401.7
Asia
Australia, and Oceania
Europe
579.9 ! 621.2
96.6 '
49. 6 :
42.0 ;
Chemicals
General imports, totall
Seasonally adjusted t
By geographic regions:
j
89.8
49. 3
35. 9 :
do
do
do
502.7
Hl.y
39 2
39.2 .
1
|
!
91. h '
49. 7
3S. 2
Animal and vegetable oils, fats, waxes
Transport equipm ent , total
Motor vehicles and parts
!
977 5
493.3
435. 6
do
do
do
do.
_do
j
946. 5
494, 3
417.6
Mineral fuels, lubricants, etc. 9
Coal and related products
Petroleum and products
Const ruction, excav. and mining
Electrical.
1
|
1
<
|
^
do
do
i
3, 072. 2
432. 2
759.9
421.8
do
do
do
do
Machinery and transport equipment,
]
2,855.5
486. 2
650. 1
434. 2
Crude materials, inedible, exc. fuels 9
Cotton, raw, excl. linters and waste
Soybeans, exc. canned or prepared
Metal ores, concentrates, and scrap
do
do
do
do
i
;
I
6, 661. 0
4, 003. 1
161.8
2, 636. 6
do
Manufactured goods 9
Textiles
Iron and steel
Nonferrous base metals
|
j
27, 135. 3 29, 899, 1 2 530.0 ;'2,395.6 12,314.7 2,456.8
26, 356. 5 28, 958. 6 > 428. 3 : 2, 295. 7 12, 244. 0 : 2, 388. 8
551.1
491.0 | 571.0 1 569.0
6, 228. 6 6, 884, 5
20, 906. 7 23, 014. 6 ,978.9 1 1,904. 6 '1,743.7 11,887.8
do
do
do.
do
Beverages and tobacco
i
j
!
By commodity groups and principal commodities:*
Food and live animals 9
do
Meats and preparations (incl. poultry) . . do
Machinery, total 9
Agricultural
|
|
FOREIGN TRADE— Continued
Value— Continued
Exports (mdse.), incl. reexports— Continued
By leading countries— Continued
North and South America:
629.0 I .
169.7 '
209. 8 :
•
4.9
, 9Q 9 |
20. 3
i
]
..
!
;
:
L
.
----•
:
:
1----
:
23.9 !
3.6 1.
17.0 L.
14.3 ; _
20.7 |.
248.7 |
54. 5 i
.3 |
142.9 !
69.4 ! .
4.5 L.
154.9 l
628.5
:.
317.8 i
;
H-2 I — - — - 1! 37.9 i
i8.6 i
--
-
:
15.6 ;
19.0
19.1 ! _ - . - . . . - - .
19.7 I
20.1 l
15.0 :
22.8 i 20.6
13.4
244. 8
Colombia
do
! 276. 7
0
;
0
o ! 0 !
0
i
0
i
0
0
i
0
Cuba
do
0
1
0)
-n6. 8 ! 69. 3
71.7 | 64.3 !
58. 7 :
54. 6 ! />(>. 5 ;;
48. 9 :]
59. 4
750. 2
Mexico
do
! 638. 4
78. 6
'
SI. 2 ! HO. I
90. 2
84. 6
90. 9
87. 3
70. 8
78. 4
Venezuela ._ . _ _
_..
. do
; 1.018.0 \ 1.002.4
r
2
similar note on p. S-21.
*New Series. Comparable data prior to 1965 for the groups are
Revised.
,,.
,,ov,.».
"Preliminary.
* Less than $50,000.
Beginning Jan. 1966, excludes daU
not available; data for individual commodities may be obtained from Bureau of Census
for Singapore; such shipments amounted to
LU .ji.u
$1.0 Jim.
mil. in that
nuiL month.
inuiiiij.
JRevisions for J a n .
1964-Nov.
1965
will
be
shown
later.
.
'
•
•
-'---reports.
9
Includes
data
not
shown
separately.
OSee
SURVEY OF CURRENT BUSINESS
August 1967
Unless otherwise stated, statistics through 1964
and descriptive notes are shown in the 1965
edition of BUSINESS STATISTICS
1965
1967
1966
1966
June
Annual
S-23
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Mar.
Feb.
Apr.
May
June
July
FOREIGN TRADE OF THE UNITED STATES—Continued
FOREIGN TRADE — Continued
Value— Continued
General imports — Continued
Bv commodity groups and principal commodities:*
362.0
431.5 375. 7
405.9
381.3
356. 9
364.6
415. 3
336.1
338. 6
335. 8
389, 6
4, 083. 6 4, 530. 5
Agricultural products, total
mil. $
17 282 0 21,019 8 1, 799, 0 1,733.4 1, 844. 4 1,888.3 1.897.1 1,900.8 1,878.1 1, 846. 5 1, 638. 8 1, 924. 4 1,715.4 1,886.3
Nonagricultural products total
do
Food and live animals 9
do
Coffee
Meats and preparations
do
do
3, 459. 6
120 5
1 058.5
426.5
449 5
3, 947.
5
129 9
1,067 3
599,5
501 2
340.4
fi *>
80.1
65.4
47 3
309. 4
9 3
74! 5
46.2
61 7
299. 0
4 6
63.7
53.9
45 4
372. 3
5 2
98.9
57.1
73.3
358.2
6.7
99.9
58.4
48.1
326.3
7.9
72.7
48.8
40.9
355.4
24 5
92.6
54.3
33.6
330. 8
12.8
75.8
50.1
35,4
314.1
25.9
74.5
47.5
37.0
369.0
20.8
93.8
51.4
46.2
322.6
11.7
76.9
44.3
54.4
296.2
55
77.4
43.1
37.4
337.2
Beverages and tobacco
do
553. 2
641,7
46 2
36.1
41.8
53.3
64.7
66.5
53. 6
60.0
49.9
63.6
62.4
55.5
51.4
Crude materials, inedible, exc. fuels 9
Metal ores
Paper base stocks
Textile fibers
Rubber
do
do
do
do
do
3, 046. 6
915 4
421 9
435. 4
188. 1
3, 265. 6
1 019 8
449 3
436. 3
180.9
305.1
96.1
39.7
41.6
17.5
261.7
85.2
38.4
30.3
11.5
306.9
110.9
42.9
32.9
16.3
280.4
101.9
35.2
28.5
13. 5
265. 0
105. 2
38.0
26.0
14.8
270. 1
102.9
37. 5
25.6
15.3
251. 0
79.4
38.9
26.9
12.9
254.0
75.3
37.6
29.6
17.3
210.8
61. 2
33.3
24.9
14.1
254. 5
62.8
39.8
32.0
21.2
226.3
62.7
32.4
25.2
13.6
250.7
92.6
35. 0
23. 5
14.3
282. 2
Mineral fuels, lubricants, etc
Petroleum and products
do
do
2 221 5
2 099 5
2 262 0
2 127 1
193.8
183 3
188. 1
181.5
204. 5
190.3
182. 9
169.9
182. 6
173.7
181.5
170.1
182.5
173.0
226.7
212. 7
186. 7
172.3
211.8
197. 2
193.8
179.1
194.7
181. 1
176. 9
116.5
768.8
146.2
964.0
12.6
85.3
8.2
71.9
12.6
78.7
10.5
95.1
11.9
79.4
U. o
80.5
13.1
74.7
14.2
82.4
14.8
80.0
11.3
90.2
8.0
83.7
8.2
85.1
6.2
76.1
490.8
68.9
69.8
105. 6
122. 3
551. 7
79.3
69. 8
122.4
127. 1
527 5
515.8
_.
Animal and vegetable oils and fats
Chemicals
_ _._
-
do
do-__
Manufactured goods 9
Iron and steel
Newsprint
Nonferrous metals
Textiles
do
do
do
do
do
5, 555. 4
789.6
800.4
1, 234. 7
1 266 8
6, 353. 9
889 5
908.5
1, 305. 0
1 551 7
541.5
81.0
71.8
118.5
125. 3
555. 3
63.9
75.8
129.3
131.5
566.0
76.0
79.1
131.2
135. 0
579. 9
81.0
80.4
134.4
139. 3
564.2
78.8
75.5
116.6
136.0
581.9
77.9
67.2
140.2
147.4
513.5
75.4
69.3
99.2
133.5
522. 1
72.8
80.9
101.6
128.9
471.7
64.6
60.4
98.2
122. 6
531.9
71.4
76.7
114.4
129.7
Machinery and transport equipment
do
2, 947. 8
4, 827. 6
404.5
366. 9
378.4
416. 7
434.7
454. 5
547.8
484.4
434.7
537. 2
430. 4
497.1
254.4
16. 2
86. 0
242. 8
192. 8
Machinery, total 9
Metalworking
Electrical
do
do
do
Transport equipment
do
Automobiles and parts
do
Indexes
Exports (U.S. mdse., excl. military grant-aid):
Ouantitv
1957 59 100
Value
do
General imports: cf
Quantity
1, 746. 2
63 5
639^6
2, 618. 4
135 3
1,015.9
216. 0
10.7
76.6
212. 0
12.0
80.7
238. 5
14.8
98.9
225. 0
10.7
99.5
243.6
12.9
103.5
267. 7
17.2
117.8
261.9
16.8
107.3
242. 0
16.3
85.9
232.5
14.3
87.5
286.1
19.8
103.7
234. 1
17.5
80.7
1 201 5
810.1
2 209 3
1,617.7
188 6
135.2
154.9
117.2
139.9
90.2
191.7
137. 9
191.1
147.0
186.8
147.8
285. 8
239. 3
242. 4
195.9
202.1
164.1
251.1
196.4
196.2
151.1
144
152
106
158
106
160
169
106
152
161
106
167
180
107
153
152
99
180
18°
101
179
180
101
184
191
193
101
171 730
16 926
186 093
18 531
16 763
1 520
14, 865
1,508
17, 003
1,513
17, 025
1,500
16,979
1,648
16,012
1,652
14 120
1,637
12, 452
1,533
12,911
1, 4C-3
255,754
14 943
264, 538
17 302
24. 337
1 503
22, 954
1,439
26, 177
1, 551
24, 044
1,602
24, 603
1.519
23, 292
1,536
20, 210
1,383
22, 877
1,511
18, 994
1,315
do
Unit value
do
Shipping Weight and Value
Waterborne trade:
Exports (hid.
reexports) :§
Shippin <T weight
thous sh tons
Value
mil $
General imports:
Shipping weight
_ thous. sh. tons
Value
mil $
168
186
101
.........
TRANSPORTATION AND COMMUNICATION
TRANSPORTATION
Air Carriers
Scheduled domestic trunk carriers:
Financial operations (qtrly total):
Operating revenues total 9
mil $
Transport total 9
do
Passenger
do
Property
do. .
U.S. mail (excl. subsidy)
. do.
Operating expenses (incl depreciation) do
Net income (after taxes)
do
Operating results:
Miiles flown (revenue)
mil
Express and freight ton-miles
flown
do
Mail ton-miles
flown
__ _ _
do
Passengers originated (revenue)
do
Passenger-miles flown (revenue),
bil
3 278
933
218
74
o ggg
223
3 707
3 672
3 261
242
91
3 250
240
836
88
941 0
921.6
219.6
71 4
49.2
1 010 9
1,081.7
282.4
81 1
57. 1
90 6
102.5
23.2
8.0
5.7
Express Operations (qtrly.)
Transportation revenues
Express privilege payments
. ___ _
mil. $__
do
431.4
119 3
430.8
111 7
104.4
98 9
Local Transit Lines
Fares, average cash rate
Passengers carried (revenue)
cents
mil
21. 6
6, 798
21.9
6,671
21.8
567
Motor Carriers (Intercity)
Carriers of property, class I (qtrly. total):
Number of reporting carriers
Operating revenues, total
..
" mil. $
Expenses, total.. _
...
do
Freight carried (revenue)
... mil. tons
7', 112
6 736
428
3 306
0
831
823
730
50
20
736
48
997
989
886
64
52 3
59.8
17.9
5.1
3.9
92.4
97.4
23.0
7.2
5.1
96.1
105.9
24.6
7.3
5.0
91.7
101.2
26.3
7.1
4.7
21.9
502
21.9
529
21.9
552
97 3
104.4
36.5
7.5
5.5
21.9
583
21.9
570
22.0
582
1904
|
i
96.6
87.1
24.9
7.4
5.3
!
22.1
553
22 2
520
124
1951
139
102. 6
105. 8
29.9
8.4
5. 9
88. 9
85. 5
24.5
6.7
4. 6
115.2
107.3
28 0
1 163
1^979
1 852
'l20
r
Revised.
v Preliminary.
i As compiled by Air Transport
Assn. of America.
2
3
Number of carriers filing complete reports for the year.
Payments of $2.6 mil. have
been deferred until 2d quarter 1967.
9 Includes data not shown separately.
*New series, replacing imports for consumption data formerly shown. Comparable
monthly data, beginning Jan. 1965, will be shown later.
61 1
66.4
20.5
5.4
4.2
i 1, 030
1 002
992
870
69
28
890
60
100.1
108.8
28.2
8.0
5.5
105. 2
114.4
29. 4
7.9
5.4
108.8
29. 0
101.2 "
24. 0
3
°2 2
595
22.2
561
22.3
593
22. 4
553
1 155
2,020
1,907
118
cf Beginning Jan. 1965, indexes are based on general imports, instead of imports for consumption as formerly.
§Excludes "special category" shipments and all commodities exported under foreign-aid
programs as Department of Defense controlled cargo.
SURVEY OF CURRENT BUSINESS
S-24
Unless otherwise stated, statistics through 1964
and descriotive notes are shown in the 1965
edition of BUSINESS STATISTICS
1965
August 1967
1966
1966
Annual
June
July
Aug.
Sept.
1967
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
TRANSPORTATION AND COMMUNICATION—Continued
TRANSPORTATION— Continued
Motor Carriers (Intercity) — Continued
Freight carried, volume indexes, class I and II
(ATA):
Common and contract
carriers of property
(qtrly )
averaCTe same period 1957-59—100
Common carriers of general freight, seas, adj.*
1957-59= 100, .
Carriers of passengers, class I (qtrly.) :§
Number of reporting carriers
Operating revenues total
mil $
Expense1^ total
do
Passengers carried (revenue)
mil
Class I Railroads
Freight carloadings (AAR):
Total cars. _
_
_ thous __
Coal
do
Coke...
_
do
Forest products. . .
__
do _
Grain and grain products
do
Livestock
__
_
.do __
Ore
do
Merchandise, l.c.l
do
Miscellaneous
do
Freight carloadings, seas. adj. indexes (Fed. R.):
Total
1957-59=100
Coal
do
Coke...- .__ _
_
do
Forest products.. _
_
_ _ _ _ _ _do Grain and grain products
_ _ _ _do _
Livestock
do
Ore
.
_
do
Merchandise, l.c.l _ _
._ ._
do
Miscellaneous
do
Financial operations
(qtrly.):
Operatina revenues total 9
mil $
Freight
do
Passenger
do
Operating expenses
do
Tax accruals and rents
do
Net railway operating income
do
Net income (after taxes)
do
Operating results:
Ton-miles of freight (net), revenue and nonrevcnue (qtrly )
bil
Revenue ton-miles*
do
Revenue per ton-mile (qtrly. avg.)
cents _.
Passengers (revenue) carried 1 mile (qtrly. ) _ .mil..
Waterway Traffic
Panama Canal:
Total
thous Ig. tons
In United States vessels
do
Travel
Hotels:
Average sale per occupied room
dollars
Rooms occupied-, _
% of total
Restaurant sales index _ _ . same mo. 1951= 100. _
Foreign travel:
U.S. citizens: Arrivals
thous__
Departures
do
Aliens* Arrivals
do
Departures
do
Passports issued and renewed
do
National parks, visits
do
Pullman Co. (qtrly.):
Pftssenger-miles (revenue)
mil
Passenger revenues
nvl $
COMMUNICATION (QTRLY.)
Telephone carriers:
Operating revenues 9
mil $
Station revenues
do
Tolls, message 5
do
Operating expense* (before taxes)
do
Net operating income
do
Phones in service end of period
mil
Telegraph carriers:
Domestic:
Operating revenues
mil. $_.
Operating expenses, incl. depreciation
do
Net operating revenues
do
International:^
Operating revenues
do
O perating expenses incl depreciation
do
Net operating revenues
do
T
i
150.9
161.2
163.3
144.3
156.0
159.8
i 156
610.3
516.7
218.3
i 156
641.0
545.8
223.2
156
149.3
128.4
52. 7
29, 248
5,555
428
1,978
2, 662
29, 618
5,590
432
1,996
2,877
2 2, 965
2528
2 42
2201
2283
125
1,956
459
16, 084
110
2,131
322
16, 159
97
97
100
103
97
40
95
20
100
159.4
155. 7
157.3
154 9
156.7
155.7
156
210 6
159 4
65.2
r
155,5
155.8
153.6
155.7
150.2
134.3
141.6
147.3
2 2, 660
2528
234
2205
2249
2,221
458
28
155
170
2,282
459
29
158
161
2 2, 728
234
2192
2216
1,968
357
24
144
196
27
156
155 0
136 5
56.1
2 193
2260
154
234
2, 333
443
32
146
233
232
24
1,202
2 15
2292
232
2 1,583
19
203
26
1,373
14
155
24
1, 286
2 108
228
2 1,460
6
67
20
1,139
4
68
20
1,149
225
2 1, 520
5
121
21
1,263
5
197
20
1,253
25
2268
225
2 1, 476
4
198
17
1,029
94
100
107
98
105
34
91
13
95
95
94
100
99
103
36
99
13
98
94
96
91
97
100
37
92
13
96
97
95
88
98
104
40
130
13
100
99
95
87
103
109
38
129
13
101
97
95
82
105
99
32
116
12
100
96
96
78
107
94
29
104
11
98
96
97
74
109
100
30
96
11
98
96
104
80
103
88
24
116
11
98
93
102
87
102
85
23
92
11
95
'89
'97
85
99
80
25
83
11
92
85
97
84
99
74
26
78
10
87
2,526
485
2 2, 624
2553
238
2175
2
252
2,049
438
29
148
201
2,054
434
29
158
193
210
2, 176
360
33
150
236
2,357
469
32
158
232
2299
2 31
1,574
5
226
23
1,144
96
95
98
102
105
35
102
14
99
95
98
106
103
102
31
91
13
97
94
98
118
103
89
31
89
13
96
10, 208
8,836
553
7,850
1,396
962
815
10, 655
9,281
544
8,117
1,492
1,046
902
2,730
2,396
132
2,033
395
300
259
2 690
2,311
165
2,031
391
268
227
2,718
2,368
125
2 098
356
263
244
2 536
2 226
117
2,027
364
145
121
709.3
697.7
1.266
17,389
750.5
738.3
1.257
17, 095
192.3
189.9
1. 261
4,151
186.7
186.1
1 242
5 427
189.7
186.1
1 272
3,880
180.0
177.2
1 256
3 567
356.6
358.3
2370.1
3 50. 2
78.927
9,080
83, 019
9,630
7, 065
925
7,071
804
7,480
809
6,795
731
6,962
863
6,549
692
6,744
750
7,013
815
6,929
670
7,909
819
7,136
702
7,778
943
7,841
767
8,378
810
9.71
62
112
10.03
62
115
10.43
65
122
9.46
56
114
10.49
65
111
10.45
65
118
10.86
69
113
10.41
60
108
9.35
49
118
10.03
59
106
10.22
62
114
9.79
64
122
10.98
67
123
10.41
64
128
11.06
63
123
9.93
55
109
3,351
3,341
2,093
1,819
1,330
36, 509
3,881
3,759
2,413
2,040
1, 548
38, 490
356
459
208
188
210
5,492
397
486
261
211
149
8,730
571
396
262
231
132
8,582
387
322
268
204
94
3,872
311
250
217
187
73
2,664
251
217
181
157
71
1,329
236
248
177
183
67
851
273
258
185
133
100
932
254
275
149
123
111
941
322
325
191
154
188
1,380
197
1,711
224
r 2, 420
219
' 5, 698
2,014
34.55
1,969
33.80
449
7.66
650
11 07
397
6 91
403
6.97
11,750
6,272
4, 188
7,076
2,091
81.5
12, 904
6,699
4,761
7,713
2,317
86.0
3,210
1,669
1,185
1,890
589
83.6
3,260
1 676
1,216
1,935
592
84.9
3,330
1,717
1,237
2,038
580
86.0
3,356
1,732
1,245
2,040
584
87.0
305.6
267.4
23.8
319.3
275.5
24.9
80.2
67.8
6.6
80 5
71 1
81 7
69 7
7 5
81 5
71 8
4.3
112.2
87.0
21.0
121.4
90.4
27.1
29.9
22.1
6.8
31 a
31 4
23.8
66
31 2
23 9
6 3
2
Revised.
v Preliminary.
1 Number of carriers
filing complete reports for the year.
2
3
Data cover 5 weeks; other periods, 4 weeks.
Preliminary estimate by Association of
American Railroads.
*New series. The monthly motor carrier index (ATA) is based on a sample of carriers
that represents approximately one-third of the class I and II common carriers of general
freight; monthly data back to 1955 are shown on p. 40 of the July 1966 SURVEY. Railroad
revenue ton-miles are compiled by Interstate Commerce Commission.
156.2
2 2, 985
2570
241
5 5
99 7
7 5
291
2511
2,628
2,312
121
179
8,891
1
§Effective 1st qtr. 1965, carriers reporting both intercity and local and suburban schedules
are classified as intercity if intercity revenues equal or exceed 50 percent of revenues from
both operations.
9 Includes data not shown separately.
.
<? Comparability of data between periods shown has been affected by organizational
changes: certain operations reported prior to 1965, and others reported through mid-1965
are no longer covered.
SURVEY OF CURRENT BUSINESS
August 1967
1966
1966
1965
Unless otherwise stated, statistics through 1964
and descriotive notes are shown in the 1965
edition of BUSINESS STATISTICS
Annual
S-25
June
July
Aug.
Sept.
1967
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
CHEMICALS AND ALLIED PRODUCTS
CHEMICALS
Inorganic chemicals, production:
Acetylene
mil. cu. ft
Ammonia, synthetic anhydrous (commercial)
thous. sh. tons..
Carbon dioxide liquid, gas, and solid
do _
Chlorine gas (100% Ch)
do
Hydrochloric acid (100% HC1)
do
Nitric acid (100% HNOa)
do __
Oxygen (high purity)
--- .mil. cu. ft_.
Phosphoric acid (100% P20s)
thous. sh. tons
Sodium carbonate (soda ash), synthetic (58%
Na20)
thous. sh. tons..
Sodium bichromate and chromate
do
Sodium hydroxide (100% N T aOH)
do
Sodium silicate (soluble silicate glass), anhydrous
thous. sh. tons
Sodium s ul fates (anhydrous, refined; Glauber's
salt' crude salt cake")
thous sh tons
Sulfuric acid (100% HsSO^
do
Organic chemicals, production :cf
Acetic anhydride
Acetvlsalicvlic acid (aspirin)
Creosoto oil
mil. Ib
do_
mil gal
DDT
Ethyl acetate (85%)
Formaldehyde (37% HCHO)
Glycerin, refined, all grades:
Production
Stocks end of period
Methanol synthetic and natural
Phthalic anhydride
mil Ib
do
do .
16, 74,5
16, 839
1,360
1,323
1,464
1,471
1,426
1,399
1,409
1, 467
1,234
1,225 ' 1, 280 1,219
1,049.6
96.2
615.2
135.4
512.5
18, 343
391.6
994.9
91.6
633.1
133.6
531.8
18, 333
406.7
928.7
84.7
589.0
126.7
521.3
17,072
404.9
1,032.2 'P91.4 1, 075. 1
93.9 '92.9
101.1
648.1 ' 613. 0 643.7
138.8 ' 133. 2 135 0
544.3 ' 531. 9
546.1
18,899 17,617 18, 330
424.8 ' 410. 6 408 4
391.2
11.5
656.9
359.6
11 8
596 0
429.4
11.6
660.0
408.7
11.2
' 642. 9
404.0
10 1
669.4
47.9
48 3
53.6
'45.1
43.9
8,710.9
1, 077. 7
6, 478. 7
1,368.1
4, 889. 7
182, 031
3, 904. 6
10,661.1
1, 298. 2
6, 946. 0
1, 504. 8
5, 333. 0
214, 853
4, 531. 2
889.8
118.8
560.5
121.4
394.9
17,868
360.8
855.6
129.8
577.4
127 8
395.3
17,347
361 2
857. 2
134.0
585. 6
124. 8
420. 9
18,167
374. 2
847.8
115.4
570.0
125 0
423.7
18,125
353.2
822.2
113.9
605. 2
135. 5
469. 2
19,178
388.0
911.4
106.9
599.6
129.5
497.5
18.584
374.3
4, 928. 0
141.0
6, 796. 4
5, 073. 2
138.9
7, 342. 0
433.1
11.6
595.9
431.7
11 3
606 7
417. 2
11.9
617.4
400.7
11.9
605.7
445. 2
12.9
649.0
408.2
9.3
634.1
424.4
9.1
657.2
587.8
609.1
49.9
47 5
56.0
53 9
55. 1
52.8
51.1
115.0
11-2.8
118.4
1 407.9 1 427 4
118.1
114 0
120 5
116 6
'24,850.7 '28,477.3 '2,279.3 '2 341 6 '2,318.4 '2,269.9 '2,430.3 '2,462.5 '2,568.4
1
1
2.9
9.9
114 7
2 2
7 2
108.4
2.9
10.6
129.7
2.9
11.4
135.8
135.8
10.0
91
9 5
10.3
12.8
309.6
10.9
12.1
308.3
9.9
10.9
300.9
10 1
83
289.8
9.7
10.7
321.8
9.4
12.4
308.9
9 7
12.8
319.5
7 0
14.2
295.4
32.4
22.4
43.1
58.4
35.2
24.3
42.8
59.9
30.8
26 0
48.1
58 7
30.9
27 5
42.2
58 3
26
27
41
53
5
3
0
6
30.9
27.0
44.5
57.6
31.0
27.2
39 6
59 8
'33.3
27.7
45.9
60 4
28.1
29.4
45.7
54 7
58.1
201. 5
43.9
7.0
65.2
196.9
50.9
59.6
199.0
47.7
8.9
6.8
59.4
204.0
48.0
5.2
57.0
203 1
56.6
49.1
205 1
41 9
50
56.3
204.1
51.6
6.7
52. 6
209. 5
39.8
6.5
63.4
214.4
49.2
23.7
23 6
3.0
27.8
26.7
25.8
26.5
4.0
3.2
25.9
26.2
22 6
22 8
9 g
27.9
26 8
3.8
21.5
21 8
36
26.5
26 1
3.5
30.4
30 7
3 2
1,497
1,432
1,531.7 '1,600.9
34.1
29.0
1
2
112.7
108. 4
137.9
2.9
9.0
116 9
2.4
9 5
134 0
2 4
10 0
125.7
2.9
9.9
141 5
144 6
1
121.6
107.3
3, 085. 5 1 3, 627. 1
11.4
9.1
315.4
12 2
8 7
274.6
99
9 4
320 7
9 3
10.9
291.9
318.8
365. 6
26 0
485 6
i 674 8
32.4
20.1
33.2
55.7
25.6
20 4
39 S
54 7
31
93
41
56
5
g
2
2
30.5
21 7
41.2
57 6
48 0
48 3
6 4
126.8
3.2
8.8
11.5
9.7
137.0
2.7
9.6
do
do
mil gal
mil Ib
353.2
24 7
'433 3
579 1
mil. tax gal
do
do
do
710.1
200 5
589.5
70.0
659.1
204 0
570.0
74.7
50.8
207.9
48.6
6.1
mil. wine gal
do
do
315.9
315 2
26.2
26.4
3.3
29 1
5.4
307 3
310 0
35
22 3
30
9Q o
9
B 1
99
10. 810
1 196
8 104
3 1,053
14,219
2 303
10 018
1 000
1,086
128
736
115
1 378
140
1 000
115
1 194
172
821
104
1,155
197
808
85
1,131
193
805
88
443
864
58
12
5
214
11
8
237
34
13
10
260
13
1
121.7 ' 122. 2 122 4
117.0
106 1
2,356.1 9 330 3 2,480.8 '2,460.1 2,414.3
137.3
3.4
129.8
2.5
1.7
ALCOHOL
Ethyl alcohol and spirits:
Production
Stocks end of period
Use for denaturation
Taxable withdrawals
Denatured alcohol:
Production
Consumption (withdrawals)
Stocks end of period
53
9]Q
40
4
1
3
9
8
9Q5 3
5.1
7.0
4.0
FERTILIZERS
Exports, total?
_
Nitrogenous materials
Phosphate materials
Potash materials
thous. sh. tons
do
do
do
Imports:
Ammonium nitrate
Ammonium sulfate
Potassium chloride.
Sodium nitrate
3
3
3
1,273
1,019
94
116
979
136
1 128
118
854
108
1,166
137
922
83
14
20
228
13
12
12
175
35
11
20
221
9
9
29
213
30
19
32
244
22
216
1 171 '1,311
153
40
947
943
87
77
1,360
28
19
3089
2
21
5
207
21
12
3
154
39
217
95
959
76
177
181
154
160
1,780
2, 382
39 1
10
5
82
32
12
g
118
33
3 342
3 991
147
158
972
472
372
282
286
351
296
504
611
319
3 834
469
4 431
624
365
520
337
647
334
658
328
572
367
552
370
612
395
624
403
602
406
637
439
623
415
529
386
569
8
1, 459. 4
5
1 753.1
.1
471.7
2, 169. 3
1, 246. 7
929 g
2, 364. 4
1 3129 4
1 05 0
234.1
139.3
94 8
202 5
121 9
80 6
'>25 9
132 4
93 5
205.5
115.8
89 7
195.6
105.2
90 4
178.5
91.2
87 3
149.9
73.0
76 9
162.0
81.3
80 7
167.3
88 9
78 4
208.3
114.8
93 5
208.6
121 1
87 5
231.7
134.4
97 3
i g 242
2 704
684
2,984
738
3 014
677
9 975
671
2,925
705
2 871
699
2,926
722
2,704
694
2,722
611
2,618
708
2,492
696
2 405
2, 349
17.5
6 1
15 2
59 g
15 4
16 3
15.3
16.1
14 1
14 5
15.7
13 8
15.1
14.2
45.0
46 7
43 3
51.1
47.6
52.3
52.8
1
0
4
8
22.0
37.1
73 9
47 1
23 4
35.9
77 7
50 8
25 5
35.4
73 2
46 8
28
41
88
57
1
6
2
4
24 9
' 40.1
19.0
46.4
80 8
51 3
18. 1
41.8
79 8
56 6
210.2
227 5
312^7
192.7
227 0
326^3
190.8
223 4
306^8
188.6
204 4
296." 9
201.2
225 5
330^5
207.9
215 9
320!5
208.5
211 8
316.1
192. 0
192 0
309.8
do
do
do.. _
do
398
Potash deliveries (K^O)
do
Superphosphate and other phosphatic fertilizers
(100% P2O5) :
Production
thous sh tons
Stocks, end of period
do
(*}
MISCELLANEOUS PRODUCTS
Explosives (industrial), shipments, quarterly:
Black blasting powder
mil Ib
High explosives
do
Paints, varnish, and lacquer, factory shipments:
Total shipments
mil $
Trade products
do
Industrial
finishes
do
Sulfur, native (Frasch) and recovered:
Production
thous Ig tons
Stocks (producers'), end of period
do
1
7 336
3,425
1l
482.2
1
406.4
—1.0
427. 8
.1
456.2
719
PLASTICS AND RESIN MATERIALS
Production:
Cellulose plastic materials
Therm osetting resins:
Alkyd resins _ ..
Coumarone-indene and petroleum
resins
Polyester resins
mil Ib
1
169. 6
1
do
polymer
mil Ib
do
1
585. 6
1
324.9
388.0
1919 9
!
595 8
1
190 6
614 0
55 1
46 4
49 4
48 6
47.3
i 333 5
453 3
i 9g2 g
-I §39 g
29 7
40.9
84 3
58 0
95
34
73
41
9
7
3
2
31 9
37 o
80 6
27 8
37 9
CO Q
53 5
23
37
90
58
27
38
80
51
203.2
291 4
292.' 7
198.1
190 1
294.7
203.7
"3 9
311.1
204. 6
994 ^
Urea and melamine resins
do
Thermoplastic resins:
Styrene-type plastic materials (polystyrene)
mil. Ib-. 1 2, 002.
5 12,397.2
Vinyl resins (resin content basis)
do
i 9 289 0 1 2 g7Q Q
Polyethylene. _ _
"
do
£ 047.' 4 13,' 558^7
' Revised.
i Revised annual total; revisions are not distributed to the monthly data.
2 Beginning Jan. 1965, data exclude creosote in coal-tar solutions (formerly included): these
average 930,000 gallons per month in 1964.
s gee note "O" for p. S-21.
« Less than 500
short tons.
QQ A
3ii.ii
9
9
6
3
210. 3
239 9
304. 6
r gO 6
' 51 2
cfData are reported on the basis of 100 percent content of the specified material unless
otherwise indicated.
9 Includes data not shown separately.
SURVEY OF CURRENT BUSINESS
S-26
1965
Unless otherwise stated, statistics through 1964
and descriptive notes are shown in the 1965
edition of BUSINESS STATISTICS
August 1967
1967
1966
1966
June
Annual
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
ELECTRIC POWER AND GAS
ELECTRIC POWER
Production (utility and industrial), total J
mil. kw.-hr__ 1,157,583 1,248,232 105, 367 113, 380 112,348 102, 282 103, 070 102, 729 109, 717 109, 951 101,061 107, 699 102, 172 106, 582
Electric utilities total
P>y fuels
By waterpower
do
do
do
Privately and municipally owned util
Industrial establishments total
By fuels
By waterpower
1,055,252 1,143.737
861. 401 949, 254
193, 851 194, 482
96,492 104, 678 103, 632
80,271 89, 054 87, 309
16, 221 15, 624 16, 323
93, 817
79, 722
14, 095
94, 210
79, 786
14, 424
93, 949 100,860 101, 256
78, 745 83, 053 83, 566
15, 204 17, 807 17, 690
92, 960
76, 369
16, 591
98, 942
80, 419
18, 523
93, 654
76, 199
17, 455
97, 727
78, 524
19, 203
do
859, 414
195, 838
933, 407
210, 329
78, 663
17,830
85, 581
19, 096
85, 221
18,411
16,090
77, 789
16, 422
77, 140
16, 809
82, 365
18,495
82,618
18,638
75, 468
17, 492
80, 627
18,315
75, 546
18, 108
78, 747
18, 980
do
do
do
102, 331
99, 198
3,134
104, 496
101,346
3,149
8,875
8,600
274
8,703
8,490
212
8,716
8,509
207
8,466
8,264
201
8,859
8, 626
233
8,780
8,521
259
8,857
8,575
282
8,695
8,393
302
8,101
7,821
280
8,757
8,454
304
8,518
8,220
298
8,854
8,524
330
953, 414 1,038,982
84, 542
89, 682
93, 376
91,519
86, 718
86, 350
89, 262
93, 362
89, 654
90, 421
88, 105
87, 585
19, 253
39, 652
18, 613
38, 367
18, 859
39, 559
18, 705
39, 530
18, 679
40, 304
438
30, 594
925
2,351
149
423
28, 895
834
2,370
152
426
28, 174
817
2,407
179
376
26, 142
772
2,376
204
370
24, 885
726
2,316
306
Commercial and industrial:
Small light and powerS
I^arge light and power§
do
do
202, 112
433, 365
225, 878
465, 077
19,110
39, 159
21,309
38, 683
21,995
40, 212
21,329
40, 355
19, 166
40, 001
18, 457
39, 851
18, 840
39,560
Railways and railroads
Residential or domestic
Street and highway lighting
Other public authorities
Interdepartmental
do
do
do
do
do
4,652
280, 970
8,782
21,675
1,858
4,514
306, 572
9,240
25, 922
1,779
350
22, 872
664
2, 231
155
340
26, 220
668
2, 300
162
355
27, 667
714
2, 266
166
341
26, 351
746
2, 239
158
370
23, 981
811
2,238
151
376
24,371
866
2, 291
139
421
27,087
914
2,306
134
Revenue from sales to ultimate customers (Edison
Electric Institute)
mil $ 15, 158. 4 16, 196. 1 1, 327. 1 1,414.5 1, 453. 1 1,427.6 1,351.6 1, 330. 5 1, 375. 0 1, 431. 2 1, 398. 1 1, 393. 8 1, 370. 4 1,362.4
GAS
Manufactured and mixed gas:
T? r\ t 1
er oa, iota v
TnH
t ' 1 ~~H~~ ~
in u -
~P'~}
"
Hn~~
.
Residential
do
Revenue from sales to consumers, total 9 -mil. $_.
Residential
do
Industrial and commercial
do
Natural gas:
702
659
42
674
631
41
673
631
41
667
626
40
674
631
41
677
634
43
1,357
809
534
1,396
809
579
311
181
127
167
63
103
386
219
163
561
363
198
130.4
87.2
42.1
128.1
83.4
44.3
29.1
19.1
9.7
16 3
8.6
7.9
34.7
22.2
12.2
49.0
33.6
15.3
Residential
do
37, 265
34,227
2,997
37, 974
34, 870
3,061
37, 182
34, 182
2,958
37, 157
34, 201
2,915
37, 974
34, 870
3,061
38, 201
35, 062
3,139
Residential
do
118,748
39, 190
74, 657
127, 016
40, 701
82,062
30, 043
8,821
19, 848
23, 566
3 402
18, 686
32, 154
10,206
20, 547
42, 927
18, 843
24, 084
7, 697. 0 1,793.3
922.4
4, 081. 7
823.4
3, 469. 3
1, 194. 9
454.5
693 4
1, 960. 1
1,029.3
879 2
2, 882. 5
1,731.9
1, 150 5
Revenue from sales to consumers, total 9 __mil. $._ 7, 278. 5
Residential
do
3, 937. 8
Industrial and commercial
do
3, 166. 0
FOOD AND KINDRED PRODUCTS; TOBACCO
ALCOHOLIC BEVERAGES
Beer:
Production
mil bbl
Taxable withdrawals
do
Stocks end of period
do
Distilled spirits (total) :
Production
mil tax gal
Consumption, apparent, for beverage purposes
mil. wine gaL.
Taxable withdrawals
mil tax gal
Stocks end of period
do
Imports
mil. proof gal..
Whisky:
Production
mil tax gal
Taxable withdrawals
do
Stocks end of period
do
Imports
mil proof gal
108. 22
100. 42
10.34
113.04
104. 26
10.57
11.51
10.74
12.58
11.32
10.59
12.48
10.99
10.44
12.25
9.00
8.95
11.62
8.37
7.79
11.54
8.10
7.93
11.08
8.33
8.14
10.57
8.38
7.00
11.31
8.15
7.07
11.77
10.68
9.50
12.14
10.77
9.18
12.88
11.26
10. 20
13.04
185. 06
191.14
16.70
9.24
12.94
14.31
16.28
17.06
15.20
17.20
17.20
19.36
27.99
13.46
899. 46
5.19
5.56
4.88
308.92
144. 72
880. 42
60.30
26.39
12.63
890. 76
4.99
22.34
9.89
887. 20
3.66
24.12
12.31
885. 41
4.38
25.20
12. 57
883. 87
5.77
26. 45
15.57
879. 81
7.41
32.77
14.32
878. 48
7.15
37.56
10.05
880. 42
5.46
21.18
9.91
885. 49
4.90
21 54
9.76
888. 40
3.94
126. 88
90.05
835. 85
51.10
128. 51
94.57
835. 46
52.20
11.50
7.56
852. 97
4.38
4.94
6.00
849. 98
2.82
7.61
7.46
847. 65
3.74
8.72
8.68
844. 37
4.58
9.26
11.13
839.28
6.60
9.92
10.06
835. 18
6.39
9.85
6.55
835. 46
4.88
12.73
6.49
839. 32
4.10
13.81
6.81
843. 33
3.42
14.82
8.25
846. 85
4.49
14.09
7.54
850. 06
4.32
15.47
8.21
854. 57
4.49
101.30
67.13
8.12
5.06
5.93
3.83
8.46
5.72
9.21
6.40
12.70
9.34
9.92
6.46
6.92
3.99
6.49
3.60
6.87
4.26
8.94
5.53
8.69
5.32
9.67
5.93
8.75
7.40
3.75
1.64
.82
.61
4.49
.11
.47
.38
4.55
.08
.73
.54
4.66
.10
.58
.73
4.46
.11
.72
.91
4.20
.23
.73
1.01
3.88
.25
.96
1.00
3.75
.18
.86
.51
4.01
.14
.86
.43
4.38
.13
.83
.65
4.50
.17
.71
.52
4.64
. .13
.74
.62
4.66
.15
.94
.68
4.87
.14
218. 82
165.77
265. 10
16.34
2.30
14.91
188. 78
1.30
1.52
9.81
178.58
1.02
9.63
13.10
171.88
1.21
72.94
13.93
225. 04
1.25
88.44
15.90
290.38
1.57
17.88
16.09
282. 86
2.07
8.28
14.47
265. 10
1.43
3.49
13.43
253. 50
1.22
3.14
13.14
239. 90
1.08
3.22
17.87
225. 49
1.47
2.88
13.59
212. 49
1.35
2.63
13.59
201. 88
1.51
3.11
14.94
187. 26
1.41
Distilling materials produced at wineries - do _
31.96
2.37
390. 23
1.65
470. 56
Revised.
{Monthly revisions for 1964 appear on p. 43 of the June 1966 SURVEY; production data for
all periods shown here include Alaska and Hawaii.
20.27
294.24
137. 52
872. 90
58. 04
Rectified spirits and wines, production, total
mil. proof gal. . 94.11
Whisky
do
64. 81
Wines and distilling materials:
Effervescent wines:
Production
mil. wine gal..
7.29
Taxable withdrawals
. _ ..
do
6.25
Stocks, end of period
do
3 10
Imports
_
do
1.45
Still wines:
Production
do
233. 41
Taxable withdrawals. .
do
167. 14
Stocks, end of period
do
262. 30
Imports
do
14.91
r
18.17
23.66
27.24
11.70
12.64
892. 90 r 895. 69
5.21
4.90
6.59
10.74
3.28
7.44
8.68
10.56
18.65
145.40 129. 56
35.20
§Data are not wholly comparable on a year to year basis because of changes from one
classification to another.
9 Includes data not shown separately.
SURVEY OF CURRENT BUSINESS
August 1967
Unless otherwise stated, statistics through 1964
and descriptive notes are shown in the 1965
edition of BUSINESS STATISTICS
1965
1967
1966
1966
Annual
S-27
June
July
Aug.
Sept.
Oct.
1
Nov.
Jan.
Dec.
Feb.
Mar.
Apr.
May
June
July
225.0
.672
FOOD AND KINDRED PRODUCTS; TOBACCO—Continued
DAIRY PRODUCTS
Butter, creamery:
Production (factory)
Stocks cold storage, end of period
Price, wholesale, 92-score (N.Y.)
Cheese:
Production (factory), total
American whole milk
mil Ib ••1,324.6
52.1
do
.610
$ per lb__
mil. Ib
do
1,755.5
1,158.4
1,112.0
32.3
.672
'76.5
85.9
.736
'68.7
68.4
.754
'78.0
58.1
.699
'80.9
39.0
.680
'97.2
32.3
.674
'112.3
35.1
.669
' 120. 0 ' 129. 1
102.9
151.2
.672
.673
129.5
'191.6
.672
169.5
116.6
156.8
105.3
145.6
95.3
144.0
91.6
139.4
85.8
155.3
98.6
' 152. 3 ' 143. 7 ' 160. 7 ' 170. 5 ' 187. 3
' 102. 1 '95.4 ' 106. 7 ' 119. 1 '131.1
192.0
137.4
369.7
321.1
10.3
391.3
340.9
9.7
402.5
349.4
10.8
398.4
347.1
10.3
388.8
335. 5
15.3
378.3
325.4
17.8
372.7
322.2
17.8
367.8
317.4
14.7
361.2
308.6
13.2
367.4
317.9
18.8
387.4
335.1
15.7
408.0
355.4
11.7
' 442. 7
' 388. 9
18.4
.517
.539
.562
.562
. 554
.530
.530
.530
.520
.518
.518
.518
.522
'11.2
'191.7
11.6
r 155. 8
'12.2
'160.3
'12.1
' 133. 4
'9.5
' 108. 2
'4.6
105. 2
'6.6
'6.9
' 146. 5 '165.2
6.2
173.3
8.4
205.8
6.1
223.4
6.9
217.2
6.0
245.1
7.0
253.4
72
230^8
11.6
192.9
14.3
150.0
15.5
119.6
13.8
81.9
9.8
124.0
10.9
174.2
12.1
228.6
8.6
2.5
8.3
3.5
10.7
4.9
8.1
3.8
10.3
3.4
7.0
2.1
5.6
3.0
(2)
1.5
(2)
5.9
1.8
3.7
7.3
2.2
7.0
2.3
5.2
3.6
6.64
6.78
6.93
7.07
7.06
7.07
7.06
7.05
7.05
7.05
7.05
7.05
7.05
11,269
' 6. 108
4.36
r 5, 131
9,263
9,763
' 4, 747 ' 4, 120
5.29
5.00
9,333
'3,977
5. 40
9,012
'3,861
5.38
9,511
'4,310
5.30
9,217 10,510
9,855
' 4, 760 ' 4, 596 ' 5, 185
5.06
4.95
5.15
10, 732
5,558
4.77
11,508
' 6, 134
47.4
11,146
' 6, 379
'4.68
'7.3
'112.6
'6.8
'88.5
'6.3
'94.0
'5.6
'94.3
'8.0
'8.8
' 145. 7 ' 173. 0
10.2
' 195. 1
7.2
202.4
1, 873. 6 ' 193. 4
1,230.6 ' 137. 2
372.7
308.6
Stocks, cold storage, end of period
do
322.2
271.0
American whole milk
do
135.5
79.3
Imports
do
Price, wholesale, American, single daisies (Chi.527
.450
cago)
$perlb-_
Condensed and evaporated milk:
Production, case goods:
95.9 - 128. 6
Condensed (sweetened)
mil. Ib
1,693.0 1, 646. 1
Evaporated (unsweetened)
do
Stocks, manufacturers', case goods, end of period:
11.6
5.9
Condensed (sweetened)
mil. Ib
134.8
192.9
Evaporated (unsweetened)
__. _ .do
Exports:
92.9
'65.3
Condensed (sweetened)
do
i 24.7
38.4
Evaporated (unsweetened)
do
Price, manufacturers' average selling:
6.09
6.73
Evaporated (unsweetened)
$ per case-Fluid milk:
124, 173 120, 230
Production on farms
mil Ib
3 60, 202 3 56, 760
Utilization in mfd dairy products
do
4.78
Price, wholesale, U.S. average
$ per 100 lb_. 4.23
Dry milk:
Production:
88.6
'94.4
Dry whole milk
mil Ib
Nonfat drv milk (human food)
do . 1,992.7 ' 1, 595. 1
Stocks, manufacturers', end of period:
5.0
6.9
Dry whole milk
do
58.2
118. 5
Nonfat dry milk (human food)
do
Exports:
120.0
16.4
Dry whole milk
do
170.3
1438.8
Nonfat dry milk (human food)
_ __do
Price, manufacturers' average selling, nonfat dry
.147
.182
milk (human food)
.
$ per Ib..
' 105. 0 '111.8
76.2
54.7
.672
.672
^83.1
92.2
.717
'114.3
85.8
.666
10, 350
4.71
MO. 3
'7.1
' 192. 6 '131.8
'12.3
11.1
' 123. 6 ' 104. 9
'5.6
'6.7
' 125. 1 ' 135. 2
2.9
'4.0
' 103. 6 '119.8
r6. 7
129.6
8.7
139.8
8.8
143.6
8.2
129.3
7.9
118.4
8.4
116.8
8.3
112.2
6.9
118. 5
6.8
118.7
7.0
111.7
7.2
99.6
8.8
115.7
10.9
137.9
9.4
157.6
.5
8.3
1.2
26.0
2.6
19.7
1.4
15.6
.9
9.8
.8
8.8
.8
4.1
1.2
9.4
1.6
14.4
1.6
10.7
.8
7.2
1.2
16.2
.9
32.1
.174
.195
.202
.206
.200
.204
.201
.200
.199
.201
.199
.199
.199
143.4
119.0
138.7
134.0
126.8
125.5
101.3
90.5
82.7
100.9
87.6
86.5
91.7
3.7
386.1
245.3
140.8
8.5
4.3
292.3
177.2
115.1
1.4
458. 2
404.4
.524
10,311
4.80
GRAIN AND GRAIN PRODUCTS
Exports (barley, corn, oats rye, wheat),, .mil. bu._ U,385.6
Barley:
Production (crop estimate)
Stocks (domestic) end of period
On farms
Off farms
Exports including malt§
Prices, wholesale (Minneapolis):
No. 2, malting
No. 3, straight.- _.
. _
do
do
do
do
do
$ per bu
_do _
Corn:
Production (crop estimate, grain only). .mil. bu__
Grindings, wet process
do
4 392. 3
300.8
184.5
116.3
i 65.9
1. 590. 3
* 389. 6
292.3
177.2
115.1
63.6
5
6
104.8
846.1
6
58. 6
8.0
3.0
1.33
1.27
1.35
1.33
1.30
1.27
1.30
1.27
1.34
1.31
44,084
204.9
* 4,103
203.6
18.2
16.9
18.1
4.6
1.33
1.31
1.32
1.29
17.6
16.7
18.1
18.2
» 4, 652
16.1
1.37
1.36
1.36
1.34
1.35
1.34
17.1
18.3
16.9
15.1
16.2
15.1
35.4
'2 705
2,034
'671
38.1
49.0
35.4
31/7
1,735
1, 330
405
34.0
1.40
1.36
1.38
1.33
1.36
1.32
13.7
1.33
1.35
1.33
6
6
6
43.4
1.28
1.25
1.34
1.31
1.32
1.25
1.39
1.33
mil bu
do
do
do
4927
762
660
103
4798
660
555
105
Exports, including oatmeal
do
Price, wholesale, No. 2, white (Chicago)
$ per bu
i 24.3
30.2
3.9
3.6
2.3
3.2
4.2
2.3
.74
7.77
.78
.77
.76
.75
.78
.78
1,586
946
117
61
66
54
82
53
266
109
371
110
33
54
154
58
51.8
840
530
311
45.3
35.6
~ 56.T
3,663
2,885
778
44.6
1.48
1.40
1.44
1.40
1.37
1.35
1.31
1.33
1.42
1.37
1.38
1.34
1.28
1.26
5
6
316
6241
675
833
675
158
2
6268
6 198
670
441
354
88
660
555
105
.5
(9)
.2
.8
1.7
.75
.74
.78
163
122
138
134
180
206
104
58
(9)
.79
.77
.77
179
197
147
119
317
111
99
97
168
304
262
317
260
248
239
202
120
135
5,880
3,962
25
365
98
271
896
232
1,312
366
1,640
404
664
416
405
399
341
403
294
414
232
441
150
385
104
385
26
276
1,758
2,978
.083
442
219
.083
254
404
.083
623
85
.083
1,109
200
.083
1,826
226
.083
1,867
246
.085
1,758
322
.085
1,611
472
.085
2,766
390
.085
1,163
461
.085
859
319
.085
616
324
.085
379
510
1.21
28.3
1.25
1.19
94 3
1.23
5
37 8
1.23
1.18
1.20
6 IS 4
1.21
1.22
1.17
785
.74
5
<85.1
Rye:
Production (crop estimate)
mil bu
4 33 2
* 27 9 6
Stocks (domestic) end of period
do
28.8
28.3
19. 0
Price, wholesale, No. 2 ( Minneapolis) _.$ per bu._
1.20
1.19
1. 22
1. 24
1.15
r
Revised.
i See note "Q" for p. S-21.
- Less than 50 000 Ibs.
3 Reflects revisions
5 J iugust 1 estimate of
not distributed to the months.
* Crop estimate for the y ear.
1967 crop.
e old crop only; new crop not rcportec [ until be ginning o: new cro p year (July
1.33
1.32
1.41
1.39
1,783
1,324
459
55.3
Rice:
Production (crop estimate)
mil. bags 9. _ 476.3
California mills:
1,612
Receipts, domestic, rough
mil. Ib
1,055
Shipments from mills, milled rice
do
Stocks, rough and cleaned (cleaned basis), end
of period
mil Ib
207
Southern States mills (Ark., La., Term., Tex.):
Receipts, rough, from producers
mil. lb__ 8 5,711
4, 020
Shipments from mills milled rice
do
Stocks, domestic, rough and cleaned (cleaned
1,641
basis), end of period
mil Ib
Exports
do
i 3,411
.083
Price, wholesale, Nato, No. 2 (N.O.)
$ per lb_.
4.9
1.35
1.33
1.39
1.35
3,663
2,885
778
616.6
Oats:
Production (crop estimate)
Stocks (domestic) end of period total
On farms
Off farms
3.0
1.32
1.31
1.32
1.31
4,041
3,085
956
i 598. 9
Stocks (domestic), end of period, total. _mil. b u _ _
On farms
do
Off farms
do
Exports, including meal and flour
do
Prices, wholesale:
No. 3, yellow (Chicago)
$ per b u _ _
Weighted avg., 5 markets, all grades
do
2.7
360. 9
e 120. 3
656.0
664.4
5.2
' 205. 4
' 113. 1
' 92.2
3.1
.8
87. 7
24. 0
1.22
8
" Average
for 11 months.
Beginning
for barley, oat 5, rye, ar d wheat • Oct. for corn).
9
Less than 50,000 bushels.
§ ExJune 1965, daUi include shipmen ts to Gov't. agencies.
eludes pearl ba rley.
9 Bags rf 100 Ib.
SURVEY OF CURRENT BUSINESS
S-28
1966
1966
1965
Unless otherwise stated, statistics through 1964
and descriptive notes are shown in the 1965
edition of BUSINESS STATISTICS
June
Annual
August 1967
July
Aug.
Sept.
1967
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
May
Apr.
June
July
FOOD AND KINDRED PRODUCTS; TOBACCO—Continued
GRAIN AND GRAIN PRODUCTS— Con.
Wheat:
Production (crop estimate) total
Spring wheat
Winter wheat
Distribution
mil bu
do
do
do
1 1 316
i 299
1
1,017
1 , 432
i 1 311
*254
1
1, 057
1,602
Stocks (domestic) end of period total
On farms
Off farms
do
do
do
1 336
1,049
Exports, total, including
Wheat only
do
do
flour
2 I
382
406
3 535
1,441
r
392
'347
277
1,049
••702
3426
3 147
3279
241
409
640
405
931
409
640
694. 2
646. 5
875.7
820.8
76.2
71.4
68.8
64.1
80.5
74.7
76.2
71 6
81.8
75.8
62.1
56.1
55. 1
50. 5
51.8
48.1
40.7
38.0
50.8
46.5
48.3
44.6
48.0
44.2
50.9
45.9
1.97
1.81
1.88
1.98
1.89
1.88
2.10
1.99
1.96
2.09
1.98
1.98
2.09
1.93
2.08
2.02
1.80
2.00
2.00
1.88
1.98
1.97
1.86
1.95
1.92
1.79
1.91
1.91
1.73
1.87
1.97
1.84
1.93
1.96
1.78
1.91
1.99
1.77
1.94
1.94
1.66
1.86
257, 188
91.3
4,668
579, 183
22, 350
92.4
20, 037
90 9
22, 380
88.3
23, 093
98.8
22, 924
98 1
21,484
91.9
20, 803
88.9
20, 669
87.3
19, 390
86.1
21, 694
83.0
19, 765
87.0
50, 222
51,602
48, 133
46, 621
46, 429
43, 506
48, 788
4,180
23, 540
4 228
2,071
1,564
1,172
4,226
1,844
1,560
1,642
6.365
5.994
5,076
26 614
14, 257
7,230
25.81
22.50
27. 17
4
4
Prices, wholesale:
No. 1, dark northern spring (Minneapolis)
$ per b u _ _
1.83
No. 2, hd. and dk. hd. winter (Ivans. City). do
1.58
1.70
Weighted avg., 6 markets, all grades, _ . do
Wheat flour:
Production:
Flour
thous. sacks (100 lb.).. 254.584
90 9
Operations percent of capacity
4 693
Offal
thous sh tons
575, 874
Orindings of wheat
thous. bu
Stocks held by mills, end of period
4,314
thous sacks (100 Ib )
* 20, 464
Exports
do
Prices, wholesale:
Spring, standard patent (Minneapolis)
$ per 100 Ib
5 784
5. 464
Winter, hard, 95% patent (Kans. City), do
51]
2
2
544
897
3 131
3404
389
'461
376
350
376
20, 282 20, 424
82 4
r
369
360
44, 495 T 45, 343 45, 795
367
45, 402
50, 400
51,996
2,015
2,495
4,197
1,962
2, 601
2,595
4,180
1,956
6.450
6.200
6. 905
6. 573
6.838
6.483
6.813
6. 433
6 638
6.167
6.550
6.100
6.325
5.883
6.250
5.700
6.175
5.633
6.263
5.850
6.263
5.790
6 275
5. 767
4,432
27 319
s 13, 133
8,056
325
2 397
1,151
373
313
2,236
390
2 416
1,115
911
389
2 335
1,355
1,424
384
2,285
1,244
1,325
366
2,257
1,042
705
372
2,365
1,142
514
313
2,105
400
2,338
316
2,185
443
361
2,469
1,148
576
355
459
388
300
2 425
1,013
406
26.17
25.42
32.38
25.33
24.92
33.00
25.26
24.15
26.50
25.73
25.51
28. 50
26.07
25.51
30.00
25.48
24.79
31.50
24.93
24.18
32.50
24.49
24.28
32.50
25.21
24.32
33.00
24.92
24.04
35.00
24.65
24.58
35.00
24.59
24.81
31.00
63,729
15, 175
4 672
1,192
4,228
1,004
5,088
1,192
5,888
1,305
6 047
1,439
6,200
1,469
6.215
1,460
6,280
1,497
5,652
1,233
6,725
1,442
20.78
22.88
22.88
22.65
18.2
18.6
19.2
11 710
3 450
2 157
11, 553
5 3 901
1,988
24.29
420
417
377
1.92
1.61
1.75
r
405
403
275
1 236
348
1,976
LIVESTOCK
Cattle and calves:
Slaughter (federally inspected):
Calves
thous. animals
Cattle
do
Receipts at 26 public markets . _ _
do
Shipments, feeder, to 8 corn-belt States
do
Prices, wholesale:
Beef steers (Chicago)
$ per 100 Ib
Steers, stocker and feeder (Kansas City)__do
Calves, vealers (Matl. Stockyards, 111.) do
flogs:
Slaughter (federally inspected) thous animals
Receipts at 26 public markets
do
Prices.:
Wholesale, average, all grades (Chicago)
$ per 100 l b _ _
Hog- corn price ratio (bu. of corn equal in value
to 100 Ib. live hog)
Sheep and lambs:
Slaughter (federally inspected) thous. animals
Receipts at 26 public markets
do
Shipments, feeder, to 8 corn-belt States
do
Price, wholesale, lambs, average (Chicago)
$per 100 Ib..
63 708
15 386
5
976
840
943
891
285
2,423
958
955
25.37
25.14
34.50
25.83
25.49
26.37
25.61
5,870
1,372
5 306
1,328
5,178
1,249
1,118
326
23.85
22.57
21.34
19.78
19.10
18.77
18.81
18.05
17.23
21.31
21.05
21.12
18. 3
18.3
16.4
16.4
15.2
14.6
14.8
14.9
14.0
13.5
17.4
16.7
17.7
1 040
1,024
1,067
1 022
905
269
111
1,053
405
337
896
344
126
298
88
989
221
70
1,072
335
109
929
303
104
250
71
872
215
76
890
300
95
904
272
96
277
25.00
24.25
23.75
24.75
24.00
23.25
22.25
22.00
22.50
21.25
21.25
22.75
29.25
26.75
24.75
28 336
29 289
2 432
2 197
2 480
2 593
2 600
2,636
2 647
2,732
2 419
2,748
2 513
2 569
2,552
484
4
535
1,012
621
480
1,318
518
38
495
34
433
45
451
43
509
59
565
52
621
36
668
36
111
41
783
39
725
43
'664
39
600
106
115
697
42
91
112
15 995
16 708
1 466
1,418
1,488
1 378
1 524
1,514
'288
277
r
398
230
427
325
MEATS AND LARD
Total meats:
Production (carcass weight, leaf lard in) , inspected
slaughter
mil Ib
Stocks (excluding lard), cold storage, end of
period
mil. l b _ _
Exports (meat and meat preparations)
do
Imports (meat and meat preparations)
do
Beef and veal:
Production, inspected slaughter
do
Stocks, cold storage, end of period
do
Exports
do
Imports
do
Price, wholesale, beef, fresh, steer carcasses, choice
(600-700 Ibs.) (New York) ___
$ per Ib
Lamb and mutton:
Production, inspected slaughter. .
mil. lb._
Stocks, cold storage, end of period
_ _ . do
Pork (including lard), production, inspected
slaughter
mil Ib
Pork (excluding lard) :
Production, inspected slaughter
do
Stocks, cold storage, end of period
do__
Exports.. _ _ _ _ _ _
do
Imports
do
Prices, wholesale:
Hams, smoked, composite
$ per Ib
Fresh loins, 8-12 Ib. average (New York) ._ do
Lard :
Production, inspected slaughter
mil. lb._
Stocks, dry and cold storage, end of period. _do
Exports
do
Price, wholesale, refined (Chicago)
$ oer Ib
r
Revised.
1
2
Crop estimate for the year.
August 1 estimate
269
143
219
3
103
98
123
1,346
] 489
131
1 467
227
2
68
222
96
232
3
101
128
104
1 432
1,414
261
3
92
282
3
72
334
3
82
99
110
1 324
1,466
325
3
63
313
3
67
96
303
3
61
718
317
32
895
.433
.441
.424
.410
.440
.448
.433
.427
.431
.437
.434
.419
.427
.442
.454
.460
576
12
581
17
51
22
45
26
49
22
52
21
51
20
45
18
46
17
55
15
52
15
56
15
44
16
43
17
43
15
13
11 766
12 000
914
806
942
1 074
1 117
1,177
1 183
1,189
1 042
1,226
1 090
1 002
995
9, 330
9,670
234
55
298
727
214
6
26
646
179
3
22
757
140
4
18
867
151
4
22
901
171
7
9
6
961
206
7
24
955
234
6
25
959
256
5
°3
845
290
7
27
996
331
6
32
890
386
5
24
798
336
4
25
'293
235
.587
.569
.562
.604
.552
.561
.577
.577
.557
.580
.557
.550
.568
.509
.625
.497
.578
.512
.540
.506
.549
.467
.483
.458
.523
.556
.554
.594
116
94
10
.143
134
73
16
.164
4
46
152
4
53
262
542
.532
1,772
62
4 251
.153
of 1967
1,696
100
158
.152 i
136
102
15
.140
149
64
g
.158
3
4
157
70
15
. 148
163
78
19
.143
317
3
73
165
100
14
.133
167
116
18
.138
143
125
14
.136
166
132
g
.133
145
142
19
.135
300
3
56
148
'128
13
.129
3
77
799
3
32
141
128
14
Old crop only; new grain not 5reported until beginning of new crop year (July for wheat).
See note "O" for p. S-21.
Beginning 1966, data are for receipts at 28 markets.
SURVEY OF CURRENT BUSINESS
August 1967
Unless otherwise stated, statistics through 19S4
and descriptive notes are shown in the 1965
edition of BUSINESS STATISTICS
1965
S-29
1967
1966
1966
Annual
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
FOOD AND KINDRED PRODUCTS; TOBACCO—Continued
Poultry:
POULTRY AND EGGS
7,998
8,786
724
717
893
931
958
888
790
682
551
624
622
733
791
315
200
436
267
160
70
209
104
283
171
409
284
539
395
468
312
436
267
437
275
409
254
351
207
321
176
296
149
'308
'160
.145
.145
.155
.155
.150
.140
.120
.125
.110
.125
.140
.130
.125
.120
.125
182.5
184.6
15.3
15.2
15.0
14.7
15.5
15.4
16.2
16.4
15.0
17.0
16.7
17.0
16.2
16.4
85
51
27
36
101
55
79
62
57
60
100
53
48
46
23
39
27
36
64
37
55
41
41
44
120
55
265
71
'427
'85
369
92
.328
.401
.325
.399
.417
.477
.430
.456
.399
.343
.311
.322
.265
.258
.251
.324
354.4
.172
319.3
.246
14.0
.248
20.3
.274
9.6
.270
10.3
.241
13.4
.240
15.9
.233
26.8
.249
49.8
.266
50.9
.305
39.8
.290
21.6
.274
10.8
'.276
18.9
.278
.269
Coffee (green):
Inventories (roasters', importers', dealers'), end
of period
thous. bagsd* _ . 3,143
Rosstings (green weight)
d'o
21,680
3,141
21,300
3,468
5,185
21,290
5,742
22, 056
6,726
1,680
560
1,570
451
1,309
153
2,085
960
2,168
947
1,573
455
1,664
471
1,979
560
1,618
359
2,092
412
1,717
362
.451
1,428
.414
1, 543
.410
101
.406
75
.413
117
.410
182
403
171
.403
169
.398
138
.395
146
.388
143
.388
136
.385
106
.388
' 115
.395
112
.388
230
271
178
211
248
259
262
272
271
253
224
204
190
183
'184
227
472
40
1,797
r 1,377
1,297
1,022
762
242
40
685
1.640
2,890
3,390
3,190
2,730
2,369
4,152
5,796
1,966
4,045
6,250
1,911
43
407
198
48
589
188
60
817
163
128
500
113
676
387
136
1,073
357
82
899
250
7
561
2,074
170
216
246
143
110
233
184
10
158
156
144
214
198
123
481
146
479
102
10, 151
10,020
2,648
10, 444
10,299
2,598
976
967
1,982
1,038
1,028
1,670
1, 032
1,020
1,300
1,073
1,058
1, 007
776
763
1,460
776
759
2,142
889
873
2,598
674
658
2,832
683
673
2,734
873
859
2,614
sh. tons.- i 2, 359
3,006
75
131
86
177
84
184
88
40
89
91
57
68
197
421
154
3
281
54
4
466
132
5
Stocks, cold storage (frozen), end of period, total
mil. lb._
Turkeys
do
Price, in Georgia producing area, live broilers
$perlb._
Eggs:
Production on farms
mil. casesO..
Stocks ,cold storage, end of period:
Shell
_
thous. cases O
Frozen
mil. lb_.
Price, wholesale, extras, large (delivered; Chicago)
$perdoz__
371
220
MISCELLANEOUS FOOD PRODUCTS
Cocoa (cacao) beans:
Imports (incl shells)
thous Ig tons
Price, wholesale, Accra (New York)
$ per lb._
Imports total
do
From Brazil
do
Price, wholesale, Santos, No. 4 (New York)
$perlb_.
Confectionery, manufacturers' sales
mil. $..
Fish:
Stocks, cold storage, end of period
...mil. lb..
Sugar:
Cuban stocks, raw, end of period
thous. Spanish tons_.
United States:
Deliveries and supply (raw basis) :§
Production and receipts:
Production
thous sh tons
Entries from off-shore, total 9
_._ do _
Hawaii and Puerto Rico
do
Deliveries, total 9
For domestic consumption
Stocks, raw and ref., end of period
Exports, raw and refined
Imports:
Raw sugar total 9
From the Philippines
Refined sugar, total
do .
do
- do
thous sh tons
do
do
thous Ib
1,722
183
824
880
842
788
2,501 '2,379
1,647
468
1,053
1,022
' 2, 130 P 1,764
3,783
1,055
82
4,198
1,039
38
394
101
5
506
154
3
380
68
(2)
612
154
3
390
33
5
338
56
9
289
16
5
225
64
5
295
45
10
406
100
4
.068
.070
.069
.070
.071
.071
.072
.071
.071
.071
.072
.072
.072
'.073
.074
.595
.095
.620
.096
.617
.095
.619
.095
.623
.096
.618
.097
.630
.097
.632
.097
.636
.099
.633
.099
.630
.099
.629
.099
.629
.099
.627
.099
.631
130,358
132, 996
10, 649
8,446
9,681
13, 174
11,018
9,281
10, 545
12, 461
11,633
14,419
14, 518
12,663
12, 378
3,181.2
270.8
232.8
307.7
276.8
260.5
265.9
264.3
259.8
260.1
270.5
249.9
'283.6
275.4
141.3
119.8
110.8
116.8
118.5
109.7
118.6
119.3
118.8
119.2
125.9
«• 125. 6
146.0
2, 946. 8
269.9
240.9
248.1
219.3
219.9
237.6
259.8
238.0
240.8
254.1
244.5
' 251. 0
254.9
83.4
81.4
85.8
89.1
60.6
67.6
82.2
83.4
76.0
89.4
81.9
97.9
'87.8
84.8
2, 109. 7
159.5
147.9
178.1
173.4
190.0
193.3
192.9
202.3
174.7
194.9
160.5
171.0
173.6
53.2
57.5
58.1
55.9
57.5
59.9
54.8
53.2
49.5
55.3
65.3
68.2
'57.9
59.8
,266
.274
.273
.273
.273
.273
.256
.256
.256
.256
Prices (New York):
Raw , wholesale
$ per Ib _ _
Refined1.
Retail (incl. N.E. New Jersey) ..$ per 6 lb_.
Tea imports
r
2,505
5,226
2,874
5,657
3,141
5,425
3,343
5 119
Baking or frying fats (incl. shortening) :
2, 792. 5
Production
mil Ib
Stocks (producers' and warehouse) , end of period
116.6
mil. lbSalad or cooking oils:
2, 773. 1
Production
do
Stocks (producers' and warehouse), end of period
85.9
mil. lb._
Margarine:
1,904.4
Production
do
Stocks (producers' and warehouse), end of period
41.6
mil. lb_.
Price, wholesale (colored; mfr. to wholesaler or
118.6
.261
.266
.261
.261
530.1
416.8
566.7
510.8
45.8
43.4
41.3
39.8
49.4
55.6
45.5
47.5
47.9
42.7
55.0
47.7
51.0
40.0
51.0
35.3
53.4
44.4
51.3
43.9
50.3
44.9
57.2
'46.3
49.8
45.0
50.9
51.0
50.0
45.5
40.3
43.3
43.0
50.9
63.0
75.1
78.4
83.6
'80.8
83.4
4, 466. 9
2, 439. 6
378.0
225.6
346.0
165.7
375. 7
219. 1
389.8
215. 3
380.0
210.8
398.8
203.3
410.7
207.9
408.5
210.5
387.9
191.3
419.8
205.6
393.7 ' 403. 8
202.1 r 211.1
410.7
217.2
447.4
352.2
382.1
393.9
417.1
422.8
430.9
447.4
507.7
471.9
501.2
497.2
'481.8
413.4
164.1
76.8
35.4
7.4
28.6
5.3
21.8
6.6
20.4
6.7
8.7
5.2
16.5
6.5
7.1
5.8
1.9
6.1
.5
5.6
.8
5.7
3.2
6.9
'9.1
'6.2
20.3
6.9
1 ^c f(
1"*« A.
151 0
Ififi 7
ian d
179 1
1»3 Q
158 5
153.0
154.4
135.5
1 45. 5 '165.9
160.5
.073
FATS, OILS, AND RELATED PRODUCTS
Animal and fish fats:A
Tallow, edible:
Production (quantities rendered)
mil. lb_
Stocks (factory and warehouse) , end of period
31.1
mil. Ib..
Tallow and grease (except wool), inedible:
4, 302. 5
Production (quantities rendered)
do
2, 210. 5
Consumption in end products
do
Stocks (factory and warehouse), end of period
413.8
mil. lb_.
Fish and marine mammaloils:
190.2
Production
do
79.3
Consumption in end products
do
Stocks (factory and warehouse) , end of period
™n IK
1 QK 1
•-Revised, p Preliminary. l See note "O" for p. S-21.
©Cases of 30 dozen, d"Bags of 132.276 Ib.
2
Less than 500 short tons.
§Monthly data reflect cumulative revisions for prior periods.
9 Includes data not
shown separately; see also note "§".
AFor data on lard, see p. S-28.
SURVEY OF CURRENT BUSINESS
S-30
Unless otherwise stated, statistics through 1964
and descriptive notes are shown in the 1965
edition of BUSINESS STATISTICS
1965
1966
| 1966
June
Annual
August 1967
July
Aug.
Sept.
1967
Oct.
Dec.
Nov.
Jan.
Feb.
Mar.
Apr.
May
June
July
FOOD AND KINDRED PRODUCTS; TOBACCO—Continued
FATS, OILS, AND RELATED
PRODUCTS- Continued
Vegetable oils and related products:
Coconut oil:
Production:
Crude
Refined
-- - Consumption in end products
Stocks, crude and refined (factory
house), end of period
Imports
__
Corn oil:
Production:
Crude
.._ .
,
Refined
Consumption in end products
Stocks, crude and refined (factory
house) end of period
mil. Ib
- -do
_ _do
and ware_.mil. Ib _
do -..
. ...do
do
do.
and waremil. Ib
Cottonseed cake and meal:
Production
thous sh. tons
Stocks (at oil mills) , end of period
do
Cottonseed oil:
Production:
Crude
mil. Ib .
Refined
..
_ _
- _-dO-. Consumption in end products
do
Stocks, crude and refined (factory and warehouse) °nd of period
mil Ib
Exports (crude and refined)
do
Price wholesale (drums* N Y )
$ per Ib
Linseed oil:
Production crude (raw)
mil Ib
Consumption in end products
do
Stocks, crude and refined (factory and warehouse) , end of period
mil. Ib
Price wholesale (Minneapolis)
$ per Ib
Soybean cake and meal:
Production
thous sh tons
Stocks (at oil mills), end of period
do _ _ .
Soybean oil:
Production:
Crude
mil. Ib
Refined
do _ .
Consumption in end products
do
Stocks, crude and refined (factory and warehouse), end of period
- mil. Ib .
Export? (crude and refined)
do
Price wholesale (refined; N.Y.)
$ per Ib
365. 4
488.1
723.5
569.6
784.0
36.3
51.3
74.7
41.9
43.0
57.0
38.4
45.9
67.1
33.2
51.9
70.5
(<*)
50.2
67.4
(d)
43.3
60.2
154. 4
383.6
223.5
498.2
147.2
50.3
149.5
10.3
190.7
51.6
189.0
39.3
191.9
24.2
188.3
31.3
445.9
412.8
422.9
446.6
397.6
388.0
40.0
33.9
29,6
37.5
25.4
30.9
38.2
37.9
36.0
35.9
38.2
38.7
39.5
34.9
35.8
26.1
53.5
60.4
63.2
59.1
55.4
2,756.3
80.9
2, 382. 4
94.2
109.3
170.1
72.2
133.9
70 8
99.5
1,974.2 1, 674. 6
1,668.8 1,511.1
1, 471. 7 1, 263. 1
81.1
106.3
106.2
50.6
61.2
92.8
300. 1
501.3
i 149
381.8
184.0
.178
343.6
17.0
.192
410.1
454.2
226.9
213. 5
. 134
208.4
.128
(d)
41.9
60.0
52 .4
65.9
(d)
44.9
56.4
(<*)
41.3
62.7
223. 9
9.3
194.5
196.8
206.8
79.6
187.7
18.4
36.1
36.0
33.4
34.1
33.6
34.0
34.3
34.0
34.2
33.7
30.3
32.5
40.4
38.8
38.2
54.6
55. 2
53.5
47.0
45.8
101.2
64.1
237.7
89.6
259.9
91.7
249.2
94.2
237.6
111.6
49.1
55.2
99.1
67.7
57.0
85.4
165.6
101.0
86.6
183.1
137.6
92.7
175.1
162.4
95.1
300.8
3.9
.194
^3° 8
2.9
. 202
201.8
2.8
.181
246.2
6.4
.165
309.4
5.7
.169
45.2
22.6
15.9
20.8
38. 5
21 3
44.1
19.1
45.4
16.0
240.8
.128
212.5
.128
177.2
. 128
188. 6
.126
207.8
.126
11,179. 1 12, 614. 4 1,040.1
159.4
75.4
120. 0
969.9
198.9
'52. 4
'68. 3
(d)
(<*)
53.1
68.8
184. 5
24.3
151.4
25.8
37.7
33.7
31.0
'38.5
'34.8
35.1
40.2
36.8
37.8
44.9
49.5
'50.0
49.2
179.1
126.1
184.0
148.1
106.8
166.9
'63.3
' 160. 9
67.5
157.8
46.4
148.2
168.0
128.7
82.5
126.6
117.1
86.3
128.7
122.8
86.9
73.9
108.5
90.5
'43.5
'87.5
'91.9
49.6
72.6
91.9
30.2
381.8
5.2
.165
434.9
3.7
.151
476.9
4.6
.158
514.0
8.7
.158
476.9
25.4
.158
'416.7
11.6
.158
367.1
2.0
39.0
15.0
30.1
14.7
33.3
19.1
29.7
19.3
31.3
19.1
30.2
20.2
218.0
.128
208.4
.128
205.9
.128
204.9
.128
206.5
.128
204.7
.128
944.0
130. 5
824.1 1, 039. 6 1,147.1
129.0
111.4
130.0
1,133.1
120.0
1,157.6
134.1
1,022.3
111.0
r
(d)
(<*)
45.0
65.0
r
191. 6
20.2
1,083.7 1, 080. 9
86.3
146.1
r
' 32. 5
22.5
'211.8
.128
r
35.4
19.6
198.1
1,107. 6 1, 103. 6
122.1
' 111.7
5, 235. 5
4, 547. 3
4,437.6
5, 820. 2
5, 152. 0
5, 200. 5
480.8
430.2
452.3
451.8
359.7
391.5
43fi. 9
425.8
449.6
382.1
402.1
410.4
482.1
411.5
419.0
521.9
427.0
434.8
512.3
465.3
465.7
529.0
460.4
452.2
468.8
410.4
418.7
496.8
446.0
455.6
502.8
387.4
404.4
'514.7
' 424. 8
' 436. 8
513.5
444.6
450.3
374.8
1,026.7
.134
510.9
684.8
.140
589.9
64.6
.132
598.2
55.1
.147
511.1
97.1
.164
462.0
78.5
.142
457.7
30.4
.132
488.0
48.6
.133
510.9
97.8
.131
566.1
24.3
.127
581.6
45.7
.127
535.8
120.2
.128
600.4
41.0
.127
' 633. 7
66.5
.127
595.3
131.0
67, 577
16, 427
70, 182
14,812
5 353
72, 308
13, 129
36, 930
14, 907
34, 791
16, 680
5 339
39,111
13, 488
53, 273
15, 305
48, 091
14, 828
4 879
39, 444
19, 089
3,827
43, 484
645
2,021
3,819
43, 225
664
1,941
3,549
38, 079
424
1,573
3,406
41, 319
537
1,769
3,967
39, 936
477
1,731
4,593
43, 591
592
2,202
3,972
44, 084
572
2,059
4,321
48, 101
639
1,943
5, 262
48, 123
528
2,396
8,910
351
774
TOBACCO
Leaf:
2
1,855
Production (crop estimate)
mil Ib
Stocks, dealers' and manufacturers' end of period I
5 582
mil Ib
468! 075
Exports incl scrap and stems
thous Ib
243, 347
Imports incl scrap and stems
do
Manufactured:
Consumption (withdrawals):
Cigarettes (small):
Tax-exempt
Taxable
Cigars (large) taxable
Exports cigarettes
44, 236
millions
511,463
do
7,578
do
millions - 23, 052
... -
21,890
32.9
1, 080. 5
141.0
501.9
3 1 991
5 353
551, 162
179, 336
5,104
28,350
15, 107
44, 201
13,877
56, 952
16,427
5 142
64, 487
16, 043
46, 112
522, 532
7,076
23, 453
3,771
48, 552
579
1,663
3,625
37, 925
507
2,136
3,863
50,707
651
2,117
3,475
46,371
626
1,938
LEATHER AND PRODUCTS
HIDES AND SKINS
Exports:
Value, total 9
thous $
Calf and kip skins
thous. skins
Cattle hides
thous hides
Imports:
Value total 9
thous $
Sheep and lamb skins
thous pieces
Goat and kid skins
do
Prices, wholesale, f.o.b. shipping point:
Calfskins packer, heavy, 9H/15 Ib
$ per Ib
Hides steer heavy native over 53 Ib
do
106 253
2, 458
13 311
155, 623
2,582
14, 307
16,512
199
1,351
12 075
196
971
12, 306
221
1,097
12, 662
259
1,176
10,412
145
1,108
15 636
174
1,698
10 787
180
1,210
12 684
175
1,251
15 486
230
1 408
13 225
265
1,132
11,327
198
1,158
12, 600
264
1,096
80 263
31,850
14 411
88, 995
36, 998
10 331
8,602
3,709
765
7,177
2,870
861
9,033
3, 508
1,484
8,456
3,810
681
5,028
1,840
767
4 794
1,703
604
4,647
1,656
364
5 500
1,859
865
5 600
2 510
793
6 200
3 857
576
6,300
4,079
457
5,200
3,846
.541
143
.601
.177
.650
.209
.525
.209
.565
.179
.525
. 169
.475
144
.475
149
. 550
129
.500
134
575
129
.500
129
.450
.125
.450
.119
4,720
23, 830
13,372
29 302
465
2, 046
1,344
2 649
283
1,653
913
1 977
443
2, 059
808
2 624
327
1,972
933
2 217
350
2,039
905
2 089
397
2,016
948
2 350
341
1,921
909
1 960
299
1,912
907
2 012
332
1,924
742
2, 153
349
2, 085
841
2 251
320
1,895
752
2,201
379
2,050
111
2.459
65 704
5 659
4 564
4 945
4 652
4 597
4 461
4 796
5 511
4 869
6 192
3,691
5,565
1
119 4
119 4
118 0
114 5
106 7
105 3
103 *>
103 2
107 4
106 0
104.6
101.1
LEATHER
Production:^
6,263
Calf and whole kip
thous skins
23, 436
Cattle hide and side kip
thous hides and kips
14, 557
Goat and kid
thous. skins
30, 316
Sheep and lamb
do
Exports:
Glove and garment leather
thous. sq. ft.. } * 69 953
Upper and lining leather
do
Prices, wholesale, f.o.b. tannery:
101 9
Sole bends light
index 1957-59 — 100
Upper, chrome calf, B and C grades
index. 1957-59 = 100^
99.5
114 5
109.2
107.2
105. 5
107.6
r
(i
Revised.
Data withheld
to avoid disclosure of operations3 of individual firms.
1
2
Average for 11 months.
Crop estimate for the year.
August 1 estimate of 1967
crop.
4
Effective Jan. 1965, data are for all leather, except sole and rough; see note "O" for p. S-21.
3,194
531
8,933
98.3
103.2
99.2
98.3
107.2
108.0
96.3
103.2
101.6
J Revisions for 2d qtr. 1963-4th qtr. 1964 (mil. Ib.): 4,695; 4,793; 5,288; 5,355; 4,964; 5,071; 5,666.
9 Includes data for items not shown separately.
d"Revisions for Jan.-Mar. 1966 will be shown later.
SURVEY OF CURRENT BUSINESS
August 1967
1965
Unless otherwise stated, statistics through 1964
and descriptive notes are shown in the 1965
edition of BUSINESS STATISTICS
1967
1966
1966
Annual
S-31
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
52 534
49 890
53 819
Apr.
May
June
July
LEATHER AND PRODUCTS—Continued
LEATHER MANUFACTURES
Shoes and slippers: t
Production total
thous pairs
Shoes, sandals, and play shoes, except athletic
thous pairs
Slippers
do
Athletic
do
Other footwear
do
Exports
do
Prices, wholesale, f.o.b. factory:
Men'^ and boys' oxfords, dress, elk or side
upper Goodyear welt
index 1957 59 — 100
Women's oxfords, elk side upper, Goodyear
welt
index 1957-59—100
Women's pumps low-medium Quality do
629 095 r 646 897
54 685
45 569
61 358
55 201
54 898
50 802
49 034
46, 302
48, 389
39, 226
8,336
613
214
237
164
162
123 5
123 5
121.5
121.5
111 4
122 9
111.4
124 5
111.4
124 7
113.7
124.7
113.7
124.4
44 841
9' 022
561
261
38 345
6,' 686
323
215
50 289
10 261
576
232
44 367
10, 074
528
232
43 251
10 786
530
331
40 220
9,494
548
273
41 930
6,311
543
250
45 571
6,158
577
228
42 463
6,723
532
172
2 533
2,737
272
210
200
227
246
230
182
157
174
111 0
120 9
122 3
122 3
122 3
122 3
193 5
123 5
123 5
123 5
111 4
122 4
107 3
113 0
111 0
121 2
111 4
121 2
111 4
122 0
1119 4
12 4
111 4
122 5
111 4
122 3
111 4
122 7
r
466
44 665 38
8,351 r 7, 088
585
634
'163
162
462
100, 754
6 576
2,838
531 914
87, 359
6 828
2 994
1
r
536
T
r
r
191
LUMBER AND PRODUCTS
LUMBER— ALL TYPES
National Forest Products Association :<?
Production, total
mil bd ft
Hardwoods
do
Softwoods
do
2 880
660
2 220
9 792
647
2 145
2 578
587
1 991
2 577
650
1 927
2 736
615
2 121
3 112
678
2 434
2 954
'623
2 331
2,987
571
2,416
2,961
563
2,398
5 492
1 102
4 390
5 720
1 118
4 602
2 638
642
1 996
5 707
1 132
4 655
5 775
1 127
4 648
5 810
1 106
4 704
5 ggQ
r oqi
1 127
5 935
1*186
4 749
5 968
1,215
4,753
6,013
1,300
4,713
86
070
93
339
q-t o
307
onn
qqn
41Q
95
98
432
131
496
419
625
424
581
394
621
422
681
486
678
568
603
602
668
600
657
589
677
562
704
567
5 263
1 014
4 249
5 1 79
5 99ft
1 043
4 129
1 069
4 159
i %2
Production
„
do
Shipments
do
Stocks (gross) , mill and concentration yards, end
of period
mil bd ft
Exports, total sawmill products
M bd ft
Prices, wholesale, (indexes):
Boards, No. 2 and better, 1" x 6", R. L.
1957-59-100
Flooring, B and better, F. G., 1" x 4", S. L.
1957-59-100
2,976
621
2,355
3 171
do
mil bd ft
do
3,039
628
2,411
2 910
620
2 290
r nf\A
Southern pine:
Orders new
Orders, unfilled end of period
2 900
648
2 252
3 159
670
2 489
1 156
4 548
Exports total sawmill products
do
Sawed timber
do
Boards, planks, scantlings, etc
do
Prices, wholesale:
Dimension, construction, dried, 1" x 4", R. L.
$ per M bd ft
Flooring, C and better, F. G., 1" x 4", R. L.
$ p e r M bd. ft..
3 161
610
2 551
36 489
7 923
28 559
do
do
do
do
do
2 671
560
2 111
3 241
Hardwoods
Softwoods
Production
Shipments
Stocks (gross), mill end of period
2 356
554
1 982
2 858
631
2 227
37 9749
8 26
29 253
mil. bd ft
do
2 506
524
1 982
3 265
664
2 601
do
do
do
SOFTWOODS
Douglas fir:
Orders, new
Orders unfilled end of period
2 678
611
2 067
36 128
7 489
28 639
Shipments total
Hardwoods
Softwoods
Exports, total sawmill products
2 942
64°
300
36 895
7*655
29* 240
tj 775
l' 127
4 648
1 009
98
678
2 563
665
2 506
82
88
3 132
665
2 467
9
75
70
76
1 125
4 755
4 804
67
87
5 19fl
CCfl
ACQ
9 271
fi91
8 249
486
688
614
566
537
9 234
9 257
1 054
8 428
8 618
1 026
750
726
1 059
633
643
985
716
729
972
680
620
1 032
627
611
1 117
580
593
1 103
540
617
1 026
613
596
1 057
612
568
1 101
739
670
1 170
670
668
1 185
729
704
1,210
656
699
1,167
1 445
1 in
401
110
290
39
9
29
33
9
24
32
6
26
30
g
22
36
10
26
26
10
16
22
4
17
34
10
24
27
g
19
31
9
22
35
10
25
37
9
28
84
18
30
i 334
rn-r
612
82 16
85 62
88 25
85 25
86 01
84 60
82 56
79 69
79 96
83 94
80 91
84 06
82 96
82 40
156. 85
165.87
167. 43
167. 43
167.43
168.04
169. 20
169. 69
169. 69
169. 11
170. 31
171. 47
171. 47
172. 63
6 934
366
6 430
274
585
400
492
378
534
350
491
313
470
294
469
077
434
274
487
°88
524
310
582
294
540
291
566
292
575
294
6 574
6 849
6 665
6 522
622
600
520
514
5829
56
567
528
545
489
528
486
508
437
514
473
510
502
605
598
526
543
588
565
583
573
1 087
1 230
99 20°
996
8 991
1 002
6 903
1 0"
8 897
1 061
7 364
1 9117
7 64
1 159
5 688
1 230
7 855
1 271
6 566
1 279
7 042
1,286
8 329
1 269
6 425
1,292
8,502
1,302
7,026
1JOO 5gJ
94 3
105 1
107 3
107 1
107 8
107 8
107 6
104 2
102 4
101 0
101 0
101 6
101 4
102 2
97 1
106 2
107 4
106 9
108 1
108 6
107 9
107 7
107 2
106 2
105 8
105 8
105 8
105.1
10 400
535
10 400
427
867
506
906
506
920
461
807
415
800
384
751
402
781
427
732
476
865
501
904
503
871
511
884
507
845
495
10 251
10 398
1 732
10 442
10 508
1 666
942
896
1,526
852
906
1,472
977
964
1 485
969
854
1 600
884
831
1,653
747
733
1 667
754
755
1 666
659
683
1 635
770
841
1 564
947
902
1,609
820
863
1 566
847
888
1,526
862
857
1,531
67 42
69.39
79.06
70.69
68.74
67.69
66.28
64 87
64.01
65 88
66 40
69. 55
73 32
74.16
mil. bd. ftdo
do
do
do .
31 2
11.1
29 0
30 2
3.1
31.2
16.3
25.1
26 7
1.8
2.8
16.4
2.2
24
2.5
3.0
2.1
2.5
17.6
2.3
2 5
1.8
2.1
17.3
2.0
19
2.0
1.3
16.2
2.2
2 5
1.7
2.6
16.7
2.2
2 0
1.7
1.8
16.3
21
20
1.8
1.7
16.2
19
19
1.9
2.2
16.7
1.8
18
2.0
3.0
17.5
2.2
21
2.2
3.1
18.0
2.1
9
2
2.2
2.3
17.2
2 5
9 4
2.3
2.6
17.4
2.4
2.4
2.3
do
. _._ -.do
do
do
. do _
818 4
64.3
778 7
783. 3
35.4
618 1
26.0
685.6
654.4
58.3
50 2
62.0
66.0
65.9
29.0
40 6
52.1
54.9
50.4
33.5
46.3
40.7
65.6
58.7
39.9
40 6
31.4
56 1
51.6
44.4
35 9
26. 4
50.6
40.9
52.6
38 5
25.4
44.3
40.3
55.6
40 2
26.0
41 6
38.4
58.3
45 9
26.7
44 0
45 2
57.1
48 3
31.7
42.4
43.0
56.4
61 1
39.4
51 6
53.4
53.9
39 4
34.8
46 4
44.0
55.9
43 1
31.8
49 9
46.5
60 3
45 3
28.4
47.2
47.9
61.4
Western pine:
Orders, new
Orders, unfilled, end of period
mil bd ft
do
Production
_ _
do
Shipments
do
Stocks (gross) , mill, end of period
do
Price, wholesale, Ponderosa, boards, No. 3, 1" x
12", R. L. (6' and over)
.$ per M bd. ft
-
HARDWOOD FLOORING
Maple, beech, and birch:
Orders, new
Orders, unfilled, end of period
Production
_ _ _
Shipments
Stocks (gross), mill, end of period
Oak:
Orders, new
Orders, unfilled, end of period
Production... _
Shipments
_ _ _ _ _
Stocks (gross), mill, end of period
r
17.3
1.8
2 3
Revised.
* Preliminary.
i See note "O" for p. S-21.
tRevisions for 1964-65 are shown in Bu. of the Census report M31A(65)-13; those for Jan.May 1966 will be shown later.
o" Formerly National Lumber Manufacturers Association.
FOOTNOTE FOR RAW STEEL, P. S-32.
A Effective Jan. 1967, the term raw steel has been substituted for ingots and steel for castings;
raw steel is defined as steel in the first solid state after melting, suitable for further processing
or sale, including ingots, steel castings, and continuous- or pressure-cast blooms, billets,
slabs, or other product forms. Current data for raw steel are comparable with the ingots
series.
SURVEY OF CURRENT BUSINESS
S-32
Unless otherwise stated, statistics through 1964
and descriptive notes are shown in the 1965
edition of BUSINESS STATISTICS
1965
1966
1966
Annual
August 1967
June
July
Aug.
Sept.
1967
Nov.
Oct.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
METALS AND MANUFACTURES
IRON AND STEEL
Exports:
Steel mill products
thous. sh. tons
Scrap
do
Pig iron. _ _ ._
_. _
. .
-do
i 2 496
i 6 170
'193
1 724
5 857
12
Imports:
Steel mill products.
Scrap
Pig iron .
. _
10 383
235
916
10 753
464
1 252
90
55
35
90
7
534
213
320
359
638
(2}
126
454
m
106
667
2
139
647
1
1 014
19
104
1 082
24
174
1 090
23
95
1 089
23
208
940
36
104
92 070
55, 463
36 606
91 584
8 193
7 783
4 734
3 049
7 797
7 483
7 0*?°
4 380
6 79 T
7 709
7 763
4' 714
3 049
7 4989
7 98
7 695
4*787
2 908
7*677
8 005
7 838
4 752
3 086
7 810
8 035
7
4
2
7
8
33 36
35 00
29 95
31 00
28 40
30 50
°9 54
31 00
29 54
99 50
90 oo
93 84
29 18
97 oo
Iron ore (operations in all U.S. districts):
Mine production
thous Ig tons
Shipments from mines
_ _
do
Imports
.
do
87 490
'85 331
45 105
90 704
90 583
46 259
1 n 784
11 953
5 154
1 A O4Q
12 364
4 004
10 125
11 322
*) 677
9 826
11 144
5 383
U.S. and foreign ores and ore agglomerates:
Receipts at iron and steel plants
do
Consumption at iron and steel plants
do
Exports
do
121 964
125 143
i 7 085
128 295
127 694
7 779
15 370
10 941
829
14 628
10 758
813
15 470
10 562
778
15 424
10 941
922
.
_ ._
.do
do
do
14^
607
(2\
116
532
184
479
3
151
501
(2}
205
491
(2)
190
544
(2)
162
776
(2)
882
T 24
r 37
160
641
1
137
805
1
122
828
16
41
1,030
'26
'63
963
770
21
43
782
31
44
272
480
792
112
193
7,168
4,466
2 702
7 254
8 102
6
4
2
6
7
28 64
27 00
27 88
97 oo
27 50
27 38
27 00
28 53
27 00
26.98
26 50
26.79
26.00
8 229
9 883
5 532
5 176
6 769
5 158
5 085
2 845
9 811
4 773
1,869
2 864
5,049
4 576
1 772 1, 778
2 049 i 1,712
6,277
5,494
2,629
9,039
11,119
4,582
14 613
11 184
848
11 490
10 957
501
6 691
10 275
367
3 400
10 203
252
3,753
10, 479
346
6,988
9,816
736
14, 349
10, 015
626
71
12
57
9
71
10
58
2
70
12
54
2
66
15
47
2
055
637
864
554
59, 349
21 908
35 138
2 303
57,141
22 515
32 311
2 315
59, 242
20, 435
36, 645
2 162
1 151
28
166
744
12
46
r
r
Iron and Steel Scrap
Scrap for consumption, total. _
thous. sh. tons
Home scrap produced
do-Purchased scrap received (net)..
do
Consumption, total- .
- --_ _ - do
Stocks, consumers', end of period
do
Prices, steel scrap, No. 1 heavy melting:
Composite (5 markets)
$ per Ig. ton
Pittsburgh district
do
9 641
508
545
963
507
034
7
4
2
7
8
604
142
462
904
798
Ore
Stocks, total, end of period,At mines
At furnace yardsAt U.S. docks
Manganese (mn. content), general imports
038 r 60 059 r 69 399 r 66 051 r 69 494
673 17 949 1 5 933 14 736 13 431
658 r 40 319 r 44 190 r 49 098 r 53 581
9 97f!
9 >>17
9 489
707
1 791
3 391
9*370
366
15, 240
8,853
do
do
do
do
69 158
12 667
53' 997
2*494
do
1 272
1 293
132
100
142
97
138
82
97
124
134
112
60
61
88 173
88 945
91 509
91 770
7 8379
7 84
7 659
1 596
7 645
7 734
7 739
7 798
8 044
7 943
7 470
7 384
7 350
7 293
7 374
7 355
6 804
6 853
7 587
7 215
7,321
6,639
2,329
'
62.75
63 00
63.50
2 962
2 °77
9 464
2 452
2 516
2 652
2 788
2 962
3,036
' 62. 74 62.75
63 00
63 00
63 50
63 50
62.75
63 00
63 50
62. 75
63 00
63 50
62.75
63 00
63 50
62.75
63 00
63 50
' 62. 70 ' 62. 70 62.70
63 00
63 00
63 00
63 50
63 50
63 50
62.70
63.00
63.50
62.70
882
15 713
0 171
962
15 716
8 9°8
1 000
1 405
1 n^ifi
1 119
fifiQ
1 022
1 327
784
1 034
1 344
768
1 012
1 346
757
964
1 268
711
962
1 214
669
940
1 220
636
945
1 113
606
927
1 246
675
896
1 180
653
916
1,264
696
174
1 136
648
182
1 133
688
186
196
70
46
198
88
53
209
95
60
910
96
58
193
92
59
182
89
56
161
90
54
147
85
54
140
95
60
134
81
48
133
94
55
3131, 462
135.3
134 101
138 1
11 403 10 791
142 8
130 8
11 097
134 5
11 280
141 3
11 509
139 5
10 887
136 4
10 435
126 5
10,632
128.9
10 041
134 8
10,963
132 9
436
1,961
1,570
590
2 155
1 792
620
201
168
*644
138
114
655
174
147
633
189
154
696
179
149
619
176
147
590
179
148
557
171
145
510
165
139
454
189
159
404
162
136
370
165
139
7 718
314
570
781
148
7 495
'321
572
759
141
7 239
346
539
708
141
6 846
364
543
667
144
7,292
348
534
701
137
6 531
360
508
668
144
7 562
403
591
784
169
6 763
326
536
665
154
7 247
316
538
667
147
7,029
291
481
660
125
833
1 989
1 268
797
°89
173
776
305
510
3 046
904
1 338
1 261
798
275
177
665
289
432
3 064
896
1 396
1 239
780
9
76
179
640
9
56
409
9
968
848
1 356
1 148
746
235
157
587
241
427
2 724
781
1 240
1,142
741
219
170
801
247
555
2,827
799
1,299
1 059
673
215
160
557
249
510
2 476
710
1 089
1 212
755
268
177
705
288
6389
2 77
794
1 208
1 069
650
267
143
722
270
589
2 432
686
1 085
1 106
662
279
156
897
275
564
2 737
796
1 238
1,093
637
297
149
908
280
601
2,590
773
1,111
70
12
54
2
755
096
oiO
719
494
434
242
818
038
673
658
707
280
793
843
644
63
18
41
2
43, 032
2 181
Pig Iron and Iron Products
Pig iron:
Production (excluding production of ferroalloys)
thous sh. tons
Consumption. _ _ _ _
do
Stocks (consumers' and suppliers'), end of period
thous. sh. tons
Prices:
Composite
$ per Ig. ton. .
Basic (furnace)
do
Foundry, No. 2, Northern
do
Castings, gray iron:
Orders, unfilled, for sale, end of period
thous sh tons
Shipments, total do
For sale
do
Castings, malleable iron:
Orders, unfilled, for sale, end of period
thous sh tons
Shipments, total
do
For sale.-.
do
' 81Q
QQ
62
r
62. 70 ' 62. 70 r 62. 70
63 00
63 00
63 00
63 50
63 50
63 50
2 995
62.70
Steel, Raw, Semifinished, and Finished
Steel (raw): A
Production
...
thous. sh. tons
Index
daily average 1957-59— 100
Steel castings:
Orders, unfilled, for sale, end of period
thous sh tons
Shipments, total
do
For sale, total..
do
577
10 349 r!0
r
128 2
129 6
9,576 *9,635
119.9 p 116. 8
Steel products, net shipments:
Total (all grades)
Semifinished products
Structural shapes (heavy), steel piling
Plates
Rails and accessories
do
do
do
do
do
92 666
4,528
6,798
9 764
1.523
89 995
3 806
6 764
9 103
1 776
8 033
318
582
815
158
7 179
278
548
758
149
7 788
Bars and tool steel, total
Bars: Hot rolled (incl. light shapes)
Reinforcing
Cold
finished...
Pipe and tubing
Wire and wire products
Tin mill products
Sheets and strip (incl. electrical), total
Sheets: Hot rolled
Cold rolled.-
do
do
do
do
do
do
do
do
do
do
14 488
9 344
3* 150
1*877
8 689
3 484
6 659
36* 733
10* 630
16 571
14 523
9 126
3 276
1 999
9 233
3 495
5 828
35 468
10 137
15 972
1 324
890
313
180
900
334
582
3 021
842
1 307
1 162
719
292
143
859
979
534
2 613
756
1 114
1 264
779
304
177
864
317
558
1° 9
68.7
67 0
4.5
10 1
65.1
67.9
5.4
10 6
5.6
59
5.0
10 9
4.7
4 4
4.9
11 2
5.7
5 4
5.1
11 0
5.7
59
'5.2
10 6
5.6
60
5.0
10 4
5.3
5 5
5. 0
10.1
5.0
5.3
5.4
10 1
5.3
5.3
5.5
10 0
4.8
49
5.3
99
5.4
55
5.3
9 4
4.9
54
5.7
9.0
5.3
5.7
'5.6
"8. 7
p5.2
p 5.5
p 5. 4
85
7 9
98
9°
9 5
81
98
8 0
9 6
83
9 7
8 4
9 9
86
9 8
88
98
92
9q
91
10 1
9 3
10 0
93
10 5
91
r 10 7
r 9 0
P 10 4
P8 7
.0837 ' . 0842 .0842
.0843
.0847
Revised.
p Preliminary.
i See note "O" for p. S-21.
Less than 500 tons.
3 Revised total; monthly revisions are not available
Abee similar note at bottom of p. S-31.
^Beginning Jan. 1964, the composite reflects substantial changes in products and weights
.0848
.0848
.0848
.0848
.0848
.0848
.0848
.0848
.0848 '
.0848
Steel mill products, inventories, end of period:
Consumers' (manufacturers only) mil sh tons
Receipts during period
do.
Consumption during period
do
Service centers (warehouses)
do
Producing mills:
In process (ingots, semifinished etc )
do
Finished (sheets, plates bars pipe etc ) do
Steel (carbon), finished, composite pricel. .$ per lb_.
r
2
3J9
5g9
797
149
2 959
.0848
used and is not comparable with earlier periods. The new composite price is based on AISI
net shipments of carbon steel and is the average price of all finished carbon steel products
(except rails and wire products) weighted by tonnage. Prices used are base prices at Pittsburgh; the average includes an additional 25% for "extra" charges but does.not include freight.
SUEVEY OF CUREENT BUSINESS
August 1967
Unless otherwise stated, statistics through 1964
and descriptive notes are shown in the 1965
edition of BUSINESS STATISTICS
1966
1966
1965
S-33
Annual
June
July
Aug.
Sept.
1967
Oct.
Dec.
Nov.
Jan.
Feb.
Mar.
Apr.
May
June
363
367
3 154
July
METALS AND MANUFACTURES—Continued
IRON AND STEEL— Continued
Steel, Manufactured Products
Fabricated structural steel:
Orders, new (net)..Shipments
.
_-_-.Backlog, end of period
._
thous. sh. tons
- --do
do
Cans (tinplate), shipments (metal consumed),
total for sale and own useO
thous. sh. tons--
4 868
5 059
4 664
3 141
366
422
3 365
427
349
3 466
431
413
3 435
301
393
3 282
390
414
3 219
404
382
3 234
345
374
3 141
307
341
3,251
325
331
3,078
489
445
3 391
472
390
3 276
401
401
3 196
5, 145
478
483
566
518
405
359
404
334
335
412
••417
447
2, 967. 9
808 0
245.0
66 0
252.8
61.0
239.8
69 0
245.9
71 0
258.4
76.0
251.0
72.0
262.1
65.0
265.2
67.0
243.6
62.0
274.4
72.0
268.4
527. 3
65.4
i 203. 6
521.8
119.1
188.2
51 7
12.7
15.7
37.2
11.7
13.2
40.5
12.0
13.1
39 6
9.5
16.4
36.6
8.1
18.7
33.6
10.0
16.5
40.7
6.8
21.8
36,6
7.7
20.5
32.7
6.5
24.9
41.1
6.8
24.0
44.5
5.3
21.9
39.0
4.5
19.6
64 8
. 2451
74.8
. 2450
63 1
.2450
70 0
.2450
61.9
.2450
62.2
.2450
65.8
.2450
66 8
.2450
74.8
.2450
76.6
.2474
69.1
.2500
69.8
.2500
83.1
.2500
.2500
. 2500
774 5
594 i
274 6
133 1
649
520
241
102
1
1
1
8
762.0
570. 1
259.4
140.2
743.1
549.8
248.8
146.0
706.2
523.4
231.7
147.3
685.5
495 2
216.7
142. 1
700.4
482.8
218.1
134.4
727.6
492.0
224.9
145.4
739.8
520.0
239.2
128.4
767.7
560.7
241.8
136.4
730.4
525.5
243.3
128.4
T
752. 1
546. 9
' 242. 5
135.8
744.1
543.8
252. 4
121.6
152 9
118 2
34 8
43 7
107.1
136.0
106 6
29 4
41.6
114.9
135.0
107 9
27 1
40.8
116.6
151.0
116.9
34.2
37.6
124.4
139.6
106.3
33.3
34.9
120. 2
149.2
117 6
31 6
37.2
120.4
161.1
129 0
32 1
35.7
122.4
148.9
122.3
26.6
40.9
117.8
138.6
111.5
27.1
33.1
132.9
151.8
124.9
26.9
41.0
131.8
138.3
114.9
23 4
42.3
' 130. 4
160.0
129.8
30 2
42.7
126.6
161.9
130.0
31.9
43.2
4 321
3 151
3
4,863
NONFERROUS METALS AND PRODUCTS
Aluminum:
Production, primary (dom. and foreign ores)
thous. sh. tons-_ 2, 754. 5
Recovery from scrap (aluminum content), do
3 769. 0
Imports (general):
Metal and alloys, crude-Plates, sheets, etc
Exports, metal and alloys, crude
-
do
do
do
Stocks, primary (at reduction plants), end of
period- - thous. sh. tons
Price, primary ingot, 99.5% min
$ per lb-Aluminum shipments:
Ingot and mill products (net)__
Mill products, total
Plate and sheet (excl. foil)
Castings!
___.----
mil. Ib
do
do
do
Copper:
Production:
Mine, recoverable copper _
-thous. sh.
Refinery, primary-. _ . _
From domestic ores
From foreign ores
Secondary, reco vere d as refined
54.1
9.8
41.6
7.4
54.6
9.2
55.5
18.5
75.2
28 0
57.5
23.6
43.1
20.3
58.4
19.8
42.6
13.3
45.4
21.3
55.2
18.2
54.6
22. 5
i 422. 1
i 325 0
334. 7
273 1
23 7
21 2
39.4
34 0
33.5
26 3
21.6
17.5
21.9
18.3
14 0
10 3
14.9
10 3
21.7
15.7
22.4
16 0
32.7
24.9
27.7
21 5
20.6
16 0
32.9
28.7
3
do
2, 035. 0
174.0
do
113.0
do
.3502
$perlb--
2, 382. 0
240 0
174.0
.3617
211 1
213 0
154 0
.3593
133.9
205.5
212.2
210 2
.3602
.3596
211.3
254.0
195.0
.3609
.3633
.3699
194.1
240.0
174.0
.3624
204.5
233.9
169.4
.3787
197.8
227.1
160.6
.3810
217.9
242.3
177.5
.3808
' 187. 0 "191.7
P240 8 "270.7
^193 6 "205.6
.3812
.3817
P192.2
P286.3
P220.4
.3808
3,326
2 494
1 007
866
650
9
60
3 327. 4
550.4
25.8
45 8
24.8
38.4
27.8
44.5
27.1
47.9
27.9
47.4
26.8
49.5
26.8
44.2
25.3
45.4
25.3
42.2
29.4
48.0
'29.0
43.3
31.5
45.5
431.3
1,323 9
42.4
108 2
32.3
92 4
40.3
111.8
44.3
109.6
38.9
116.7
33.3
117.0
47.0
113.1
45.3
106.6
42.2
97.3
46.6
110.9
36.2
104.9
34.6
108.8
142.2
114.6
119.2
133.9
145.1
144.0
140.3
142.2
157.9
154.8
154.8
154.7
159.1
21.8
91.9
25.3
88.5
23.4
85 4
24.9
92.6
29.7
90 2
29.5
98.6
32.2
97.3
33.7
93.5
301.1
575. 8
Imports (general), ore (lead cont.), metal. _.do
Consumption, total
do
Stocks, end of period:
Producers', ore, base bullion, and in process
(lead content), ABMS
thous. sh. tons-Refiners' (primary), refined and antimonial
(lead content)
thous. sh. tons
Consumers' cT
do
Scrap (lead-base, purchased), all smelters
thous sh tons
Price, common grade (N.Y.)
$ perlb_Ig. tons
do
do
do
do
do
Exports, incl. reexports (metal)
do
Stocks, pig (industrial), end of period §
do ...
Price, pig, Straits (N.Y.), prompt
$ per Ib Zinc: A
Mine production, recoverable zinc
thous sh tons
Imports (general):
Ores (zinc content)
do
Metal (slab, blocks)
do
Consumption (recoverable zinc content):
Ores
_
Scrap, all types
r> Preliminary.
do
do
344.4
1,241.5
3
3
106.8
788
573
251
23.4
85 4
25 8
98 8
25.6
107 3
23.0
104.8
22.0
98.8
54 8
.1600
48 3
.1512
42 1
.1500
42 5
.1500
45 3
.1500
44.7
.1500
47.4
.1424
46 8
.1400
48 3
.1400
45 9
.1400
46 8
.1400
46.3
.1400
49 3
.1400
50.4
.1400
2 4, 372
4,326
41 624
40 814
076 25 318
3, 401
3 315
84,011
85, 486
58,550
60 209
100
2 549
2 440
280
7 475
5 150
2 837
1 780
270
6,320
4 680
566
4,206
2, 145
275
7,425
5,260
1,000
3,816
2, 180
275
7,190
5,150
336
2,889
2,115
275
6,970
4,970
312
3,967
2, 040
255
6,840
4,715
208
3 418
1 910
275
6,595
4,535
17
3,662
1 910
265
7,000
5,040
393
2 883
1 945
265
6 720
4 875
122
4,268
1,940
260
7,260
5,275
32
5,350
1 885
270
6,685
4,740
179
3,933
3. 069
22, 687
1.6402
145
24, 970
1.6077
197
23, 380
1. 5987
80
23, 580
1. 5642
290
24, 250
1.5412
93
24, 075
1. 5451
116
23, 105
1. 5422
249
22, 637
1. 5399
737
22, 400
1. 5388
422
20, 665
1. 5438
235
20, 500
1. 5371
209
20, 825
1. 5333
257
20, 235
1.5311
572 6
47 9
45 7
49 7
45 3
44 1
42 9
42 5
43 6
43 7
50 1
48 7
49 6
521.3
277 4
43 1
28 3
26.5
21.6
70.9
23.8
62.1
25.7
39.2
27.4
48.0
26.7
56.0
21 3
47.9
27 2
51.2
11.1
48.6
26 9
46.8
14.9
56.9
15.4
126 7
269. 6
9 9
19.4
9 7
18.9
9.3
18.6
10.1
19.6
9.4
19.7
10 3
19.3
9.4
19.6
9 1
19.1
8 7
18.9
10 2
19.2
9.3
18.8
8.8
19.0
1
25
3
i 3, 064
27, 661
1.7817
611 2
r
429 4
153 0
3 122 9
3 265. 1
3
3
i See note "Q" for P- S-21.
2
Total for 11 months.
r
.3830
746
645
241
809
646
248
25.2
109.2
Revised total; monthly revisions are not available.
OData reflect changes in conversion factor effective Sept. 1966 and Jan. 1967 and are not
strictly comparable with those for earlier periods.
^Effective 1966, estimates are derived
from a new sample and are not directly comparable with earlier data; see note in Feb. 1967
SURVEY.
eBeginning 1966, total includes copper not previously covered; see note in
r
33.0
7 3
Lead: A
Production:
Mine, recoverable lead
thous. sh. tons..
Recovered from scrap (lead cont.)
do
•"Revised.
r
596.7
162.7
2,977
2 177
3 889
3
8,673.4
6,471.6
2, 942. 5
1, 639. 6
523.8
137.4
Copper-base mill and foundry products, shipments
(quarterly total) : f
Copper mill (brass mill) products
mil Ib
Copper wire mill products (copper cont ) do
Brass and bronze foundry products f
do
Tin:
Imports (for consumption) :
Ore (tin content)..Bars, pigs, etc
Recovery from scrap, total (tin cont )
As metal.
Consumption, pig, total
Primary
-
r
tons-- 1,351.7 ^1, 429. 2
do
1,711.8 1,711.0
do
1,335 7 1 , 353. 1
do
376 1
357 9
do
429.4
472.0
Imports (general):
Refined, unrefined, scrap (copper cont.).. do
Refined - . _
do
Exports:
Refined and scrap...
do
Refined
do
Consumption, refined (by mills, etc.)
Stocks, refined, end of period©
Fabricators'
Price, bars, electrolytic (N.Y.)
8, 025. 5
5, 688. 2
2, 618. 6
1,409.0
.2500
r
158.8
.1400
. 1400
1.5494
1.5439
7,570
5,350
Feb. 1967 SURVEY.
^Consumers' and secondary smelters' stocks of lead in refinery shapes
and in copper-base scrap.
§Stocks reflect surplus tin made available to industry by GSA.
ABeginning Aug. 1964, data reflect sales from the Government stockpile.
f Re vised series. Annual data back to 1959, adjusted to recent benchmarks, will be shown
later.
SURVEY OF CURRENT BUSINESS
S-34
1967
1966
1966
1965
Unless otherwise stated, statistics through 1964
and descriptive notes are shown in the 1965
edition of BUSINESS STATISTICS
August 1967
Annual
June
Aug.
July
Sept.
Nov.
Oct.
Dec.
Jan.
Feb.
Mar.
89 2
5 4
105 8
3
Apr.
May
June
July
105.6
117.9
.1355
.1350
METALS AND MANUFACTURES—Continued
NONFERROUS METALS AND PROD.— Con.
Zinc— Continued
Slab zincrA
Production (primary smelter), from domestic
and foreign ores.
thous sh. tons
Secondary (redistilled) production
do
Consumption fabricators'
do
Exports
do
Stocks, end of period:
Producers', at smelter (AZI)cT
_ . _ do
Consumers'
do
Price, Prime Western (East St. Louis) .$ per Ib
J
1
994. 4
!
83 6
l 354 1
s' 9
28. 6
151 9
. 1450
87.6
5 4
100.4
(4)
.1450
103.7
103 7
.1450
113.4
97 4
.1356
6
55
.6
5.9
3
58
5
57
46 8
43 4
40 5
40 4
46.6
39.1
30 3
43.3
45 2
40 4
164 3
15 6
138.7
12.3
163 2
13.5
206.9
16.1
161.3
13.6
75 1
51 6
56.1
33 2
74 1
44 6
74.3
49.4
r
r
r
83 3
59
97 8
82 6
59
124 0
83 5
58
117 7
87 6
6 7
129 i
3
91.1
6 8
119 8
1
93 4
57
110 1
2
95.1
5.7
107 8
1
84.1
5 4
104 8
64. 8
192 7
. 1450
42.1
147 3
.1450
48.9
153 9
.1450
46.3
145 0
.1450
43 3
139 4
.1450
47.5
132 6
.1450
52.9
126 9
.1450
'64.8
122 7
.1450
78.1
115 5
.1450
83.8
105 2
.1450
r 108 5
7 5
90 4
5
86
5
6 8
7
10 6
9
8 6
g
8 7
g
7 3
4
5
6.5
617 2
40 4
52 6
58 7
38 7
58 5
66 2
54 8
69 8
53 5
70 4
46 4
61 4
43 7
46 9
40 4
08 3
25 2
131 4
13 7
173 2
19 5
181 6
20 9
177 7
16 0
181 9
16 4
92 8
69 8
128 1
99 4
169 7
19i 7
209 3
150 5
204 4
139 2
148 8
104 1
r
6
86.0
57
97.3
1
86 4
59
118 6
1
1,038.1
72 4
1 410 2
1 4
1
1
(4\
(4)
87.9
r
HEATING EQUIPMENT, EXC. ELECTRIC
Radiators and con vectors, shipments:
i 11 6
Cast-iron
mil so ft radiation
Nonferrous
do
115 3
Oil burners:
1
564
4
Shipments
thous
15
42 0
Stocks, end of period
do
Ranges, gas, domestic cooking (incl. free-standing,
set-in, high-oven ranges, and built-in oven
broilers), shipments
thous '2,115.9
304.8
Top burner sections (4-burner equiv), ship do
Stoves domestic heating shipments total § do
Gas
do
Warm-air furnaces (forced-air and gravity air-flow),
shipments total §
thous
Gas
do
Water heaters gas, shipments
do
1
1
1,415.2
994 0
7
9
9
153 7
234 1
1 418 5
994 8
1, 566. 6 1 335 7
1,228. 7 l'028 0
2, 616. 4 2 488 9
105 6
84 1
907 6
63.4
16 5
146.1
112.3
208 4
104 2
82.2
210 9
159 9
115 2
202 6
115 9
80.0
178 5
160 5
119.0
222 5
69.6
44 7
90 8
60 5
90. 1
' 72. 8
224 6
98 9
78.3
88.1
68.3
206 4
86 8
66.6
203 7
94.0
73.6
229.0
317 1
216.6
195 8
320.6
523 5
255 0
323.9
10 7
13
9 9
8.9
g
4.1
18 2
12
50
13.4
1.4
8.3
10 6
10
58
97
18
40
14.1
1.2
8.4
86 4
64 5
176 4
r
MACHINERY AND APPARATUS
Fans, blowers, and unit heaters, qtrly. :
Fans and blowers, new orders
mil. $
Unit-heater group, new orders
do
Foundry equipment (new), new orders, net
mo. avg shipments 1957-59 — 100
Furnaces (industrial) and ovens, etc., new orders
(domestic), net
mil $
Electric processing
do
Fuel-fired (exc for hot rolling steel)
do
208 6
66 9
232.4
67 9
392 5
9
79 9
340 6
319 5
243 9
152 8
21 6
75 2
179 3
93 9
95 9
15 2
22
83
15.8
35
7 6
15 5
16
9 3
Material handling equipment (industrial) :
Orders (new), index seas adj ©
1957-59 ~ 100
Industrial trucks (electric), shipments:
Hand (motorized)
number
Rider-type
do
Industrial trucks and tractors (internal combustion
engines), shipments
number
186 3
207 2
198 5
204 8
8 20°
9^994
10 390
12*. 404
903
1,081
660
913
41 746
47 043
4 305
1 531 30 135 20
1 399 90 123 15
112.00
l' 145.35
1 o98 95 102 35
9 8
10 9
Machine tools:
Metal cutting tools:
Orders new (net) total
Domestic
Shipments, total
.... _
Domestic
Estimated backlog, end of period
mil $
do
do
do
months
1 176 00
1 054 40
958. 60
830 55
7 6
Metal forming tools:
Orders, new (net), total
Domestic
Shipments, total
Domestic
Estimated backlog, end of period
mil $
do
do
do
months
319 30
297 75
287 85
259 80
9 9
Other machinery and equip., qtrly. shipments:
Construction machinery (selected types), total?
mil $
il 722 4
Tractors, tracklaying, total
do
428 3
Tractors, wheel (con. off-highway)
do
149 4
Tractor shovel loaders (integral units only),
i 399 i
wheel and tracklaying types
mil. $
Tractors, wheel (excl. garden and contractors'
off-highway types)
mil $
830 0
Farm machines and equipment (selected types),
excl. tractors
mil $
1 053 6
ELECTRICAL EQUIPMENT
Batteries (auto, replacement) shipments^ thous
30 598
Household electrical appliances:
Ranges, incl. built-ins, shipments (manufacturers') domestic and exportf
thous r 9 065 0
Refrigerators and home freezers, output
1957-59 — 100
147 8
Vacuum cleaners, sales billed
thous i 5 106 Q
i 4 347 i
Washers, sales (dom. and export)
do
Driers (gas and electric), sales (domestic and
export)
thous i 2 098 4
Radio sets, productionO
_ do
Television sets (incl. combination), prod.O do
Electron tubes and semiconductors (excl. receiving,
power, and spec, purpose tubes) sales
mil $
Motors and generators:
New orders, index, qtrly
...
1947-49 = 100
New orders (gross) :
Polyphase induction motors, 1-200 hp
mil $
D.C. motors and generators, 1-200 hp
do
r
3
321
60
9
91 34
3319 30
31 70
8 4
39 15
33 00
30 60
29 35
9.5
1 913 5
488 9
162 3
564.7
139 4
50.9
219 5
326 9
379.8
12 2
13
81
17.6
1 5
7 1
90
19
4i
216 4
215 7
218 9
204 2
212 8
212.4
177 2
176.6
719
797
1 032
1,127
861
1.149
1 031
1,147
1 029
1 402
826
886
903
976
1,024
1,374
997
1,032
1 079
l', 014
3 359
3 598
4 161
3 829
4 285
4 209
3,465
3 417
3,985
3 559
3 748
120 75
109 10
79.30
72 70
10 2
113 05
107 10
80.95
74 40
10 3
137 70
126 50
104.05
93 65
10 8
128 10
121 10
101.80
91 65
11 0
103 50
93 20
96. 60
85 90
11 1
113 10
100 80
127. 05
113 40
10 9
88.50
81.10
86.45
77.80
10.5
95 35
83 65
94.20
84 75
10 5
99 10
87 70
124. 45
108 95
10 2
27 95
26 60
24 00
93 30
9 8
24 65
22 70
26 70
24 40
9 7
19.90
17.95
29 60
27 60
23 75
20 90
27 05
25 60
90
16 45
13 90
28 75
27 70
8 4
13.80
13.70
25 75
24 10
7g
17 50
15 65
29 15
26 00
76
14 40
13 65
30 60
28 40
71
18 05 !5 60
14 65 r!3 20
28 85 r9 8 85
50
27 70 r 26
r
65
68
2
30 4
2 29 2
2
2
2 84 3
2 86 5
2,747
9 179
9.4
24
22
28
26
30
75
00
45
86
458.9
112 8
41.7
416 3
114 5
30 5
419 0
123.0
92.6
92 8
1 005 9
280 0
203 3
253 5
1 220 0
340 3
253 4
268 1
32 194
2,106
r
2 880
2 094
r
T
3 136
r
3 596
3 642
r
35 8
85 40 T 94 90
77 65 r 85 35
97.10 ' 110. 90
86 80 r 100 65
9 7
99
104 15
93.85
122. 05
108 50
9.3
r
20 45
18 10
33 00
28 55
60
41 2
2 41 7
-
3 312
r
2
103 1 2 103 8
2 302
r 1 872
2 93 8
r I 897
9
071
140 0
r 134 o
151.0
138 0
154 0
164 9
158 9
163 7
163 0
5 589 7
4 406 3
181 0
402 8
413 9
156 5
414 6
384 7
118 4
417 2
446 5
174 0
545 3
422 7
196 5
506 9
407 6
143 9
509 5
304 6
119 0
458 8
245 3
116 4
454.9
317.0
124 4
444 3
325 4
135 3
506 6
397 2
125 4
397 7
979 5
138 9
394 9
346 4
156 1
444 6
383 6
9 360 8
144 8
161 9
262 0
292 0
297 9
9
01 6
9Q1 9
220 4
202 2
186 2
119 3
117 5
146 6
24,118
1 ] , 028
23, 595
12,402
3 2,075
3 1,125
1,234
586
1,642
920
32,521
31,289
2,091
1,124
2,075
1,165
32,338
31,333
1,727
853
1,479
1,049
» 1,771
31,171
1,483
680
1,584 3 1, 621
3728
729
757 0
r 1$68 3
77 8
57 8
72 7
80 0
79 5
69 2
69 8
63 7
60 1
64 9
56 1
215
239
255
210 1
44.6
5 113 3
51.3
5 10. 1
r 9 028 0
160. 4
3.9
157 0
168. 0
182 0
T 188
0
236
5
82
4,5
3
9 2
3.3
Revised.
i Revised total; monthly revisions are 4not available.
* For month shown.
Data cover 5 weeks: other months. 4 weeks.
Less than 50 tons.
* Excludes orders
for motors 1-20 hp.; domestic sales of this class in 1966. $127.6
mil.; June 1967, $9.5 mil.
6
7
Reported yearend stocks. See
BUSINESS
STATISTICS
note.
Total
for
11
months.
ASee similar note, p. S-33. rf1 Producers' stocks elsewhere, end of July 1967, 25,800 tons.
§For revised 1965 annual data and for monthly shipments beginning Jan. 1966, certain types
54 2
17 2
60.0
17 7
5
98
3.8
220
5
10 5
4.5
58 3
4.9
57 7
2.8
58 2
9.1
4.5
5
82
s!o
5
9 2
4!l
59 °
218.4
r 225
5
1,023
472
5
91
4.3
5
83
5.0
58 4
3.6
previously classified as heating stoves are included in warm air furnaces.
©Effective
Apr. 1967 SURVEY, data revised back to 1961 to incorporate new seasonal factors.
t Revised series.
Beginning in the Aug. 1967 SURVEY, the series (compiled by the Association of Home Appliance Manufacturers) refers to manufacturers' shipments, including
exports. Data for Jan.-May 1966 (thous.): 176.8; 182.8; 177.4; 197.3; 165.8.
1See note marked "V bottom of p. S-35.
OSee note marked "O" bottom of p. S-35.
SURVEY OF CURRENT BUSINESS
August 1967
1966
1966
1965
Unless otherwise stated, statistics through 1964
and descriptive notes are shown in the 1965
edition of BUSINESS STATISTICS
S-35
Annual
June
July
Aug.
Sept.
1967
Nov.
Oct.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
1,230
45
1,007
44, 625
36, 515
PETROLEUM, COAL, AND PRODUCTS
COAL
Anthracite:
Production
_ __
_- thous. sh. tons . 14, 866 ' 12, 518
766
1851
Exports
-.
do
Price, wholesale, chestnut, f.o.b. car at mine
12. 824
$ per sh. ton.. 12. 979
Bituminous:
Production
thous. sh. tons.. 512, 088 532, 000
Retail deliveries to other consumers.
. -do
Retail dealers
COKE
Production:
Beehive
Oven (bvproduct)
Petroleum coke§
Stocks, end of period:
Oven-coke plants, total
.
At furnace plants
At merchant plants
Petroleum coke
Exports
1,025
44
1,003
37
829
60
669
35
859
41
1,032
37
1,189
46
12. 005
12.355
12. 840
12. 985
13.475
13.475
13. 475
13. 475
13. 475
12.005
50, 965
47, 243
48,990
46, 791
48, 324
47,000
42,390
47, 670
44, 730 ' 49,410
486,498
264, 202
201,722
95, 975
37, 994
21,269
16, 149
8,159
39,240
22, 962
15,736
8,224
39,818
22,684
16,119
8,329
38,486
20, 990
15, 992
8,073
41,279
22, 009
17,171
8,213
42, 052
22,433
17, 379
7,947
45, 395
24, 602
18, 145
7,997
45, 023
24, 723
17,689
7,946
41,517
22, 758
16, 209
7, 258
41,711 '37, 370
22,910 20, 955
17,117 '15,639
7,979 '7,611
19, 048
19,965
498
474
938
1,432
2,023
2,163
2,628
2,610
2,550
77,393
53, 437
23, 603
10, 506
74, 466
52, 895
21, 332
9,206
73, 173
50, 589
22, 304
9,078
65, 344
46, 424
18,622
6 683
68, 558
48, 793
19,450
7,265
72, 471
51,981
20, 183
7,632
75, 336
54, 520
20, 525
8,180
75, 534
54,409
20, 845
8,568
74,466
52, 895
21,332
9,206
72, 951
51, 307
21, 425
9,244
70, 196
49,583
20, 439
9,364
298
38, 150
21, 543
15, 845
7,836
37,609
22 318
14, 793
7,350
729
693
433
71,231 '74,696
50,702 53,702
20, 380 '20,846
9,491 '9,829
80,209
58, 186
21,844
10, 596
85, 221
61 831
23, 162
11 006
1,680
307
291
280
239
219
174
149
148
4,038
5,156
5,070
4,877
4,240
3,175
2,622
3,610
3,102
4,193
4,912
4.986
6.795
4.990
6.953
4.990
7.259
5.031
7.011
5.113
7.056
5.129
7.143
5.122
7.162
5.122
7.162
5.116
7.197
5.238
6.463
5,231
6, 426
121
102
1,657
1,443
65,198 ' 65, 722 ' 5, 549 5,682
17,208
1,419
1.470
17,611
140
5,714
1,530
142
5,512
1,405
141
5,604
1,478
135
5,425
1,518
126
5,482
1,573
119
5,453
1,537
93
4,996
1,341
62
62
5.552 '5,312
1,420
1,523
59
5, 394
2,258
2,061
197
1,582
77
2,438
2,228
210
1,556
68
2,575
2,356
220
1,506
100
2,635
2.428
207
1,484
96
2,821
2,621
200
1,459
95
3,030
2,822
208
1,459
95
3,249
3,018
231
1,489
76
3,388
3,156
232
1,474
68
3,527 ' 3, 732 3,963
3,273 3,465 3,687
'267
254
277
1,420
1,453
58
67
' 50
16, 780 '1,533 '1,382
2.92
2.93
2.92
299.8
3, 447. 2
285.6
91
92
93
'1,586
2. 92
297.9
92
' 1, 187 '1,478- ' 1, 274 '1,780
2.98
2.98
2.98
2.92
298.3
295.4 280.9
290.1
93
91
90
93
950
2.98
293.8
91
1,303
2.98
268.4
92
1,168
3.00
296.1
92
239
280
5,038
4.794
6.926
4.952
6.971
4.986
6.695
3,030
2,822
208
1,459
1,102
2,701
2,445
256
1,478
i 834
- . - .do _.
do
_ do
do
. do__
1,124
91
12.005
49, 302
thous. sh. tons..
. _ . _ _ _do
do
1,040
87
35, 071
353
Exports
Prices, wholesale:
Screenings, indust. use, f.o.b. mine
$ per sh. ton__
Domcstic, large sizes, f.o.b. mine _ .. do
1,190
53
12. 005
do -- i 50, 181
do
'745
52
45, 702
Industrial consumption and retail deliveries,
total?
..thous. sh. tons.. 459, 164
242, 729
Electric power utilities
do
196, 732
Mfg and mining industries, total
._ do
94, 779
Coke plants (oven and beehive)... ...do
Stocks, industrial and retail dealers', end of period,
total
thous. sh. tons..
Electric power utilities
do ._
Mfg and mining industries, total
do
Oven-coke plants
do
'998
101
2,080
1,939
141
1,552
109
315
198
228
4,987
55
5,114
4,362
4 063
299
48
PETROLEUM AND PRODUCTS
Crude petroleum:
Oil wells completed
Price at wells (Okla. -Kansas)
Runs to stillsj
Refinery operating ratio
number
... $ per bbl.
mil. bbl
% of capacity
All oils, supply, demand, and stocks: J
New supply, total
mil. bbl
Production:
Crude petroleum
do
Natural-gas liquids, benzol, etc
do
Imports:
Crude petroleum
do
Refined products
.. ._ _. ... _ ._do..-
18, 761
2.92
3, 300. 8
87
r
4, 190. 9
4, 446. 8
365.7
2, 848. 5 ' 3,027. 8 r 250. 4
441.6
37.9
468.7
371.9
377.4
358.2
373.5
' 255. 1 ' 255. 8 ' 247. 6 ' 258. 0
40.4
39.3
38.0
38.9
36.0
37.7
1,054
3.00
282.9
91
366.5
383.3
405.4
356.5
397.5
381.2
252.8
40.0
263.8
41.6
265.6
43.5
241.5
39.3
264.9
43.2
254.3
42.6
34.4
39.2
32.0
45.9
41.1
55.2
29.2
46.4
37.6
51.9
38.2
46.2
452.0
448.7
447.1
492.0
39.0
37.4
39.1
37.6
do
-2.9
49.4
9.5
30.3
14.6
13.7
12.9
-31.7
1.4
-18.4
do
4, 193. 7
4, 397. 5
356.3
341.6
362.8
344.4
360.6
377.2
415.0
403.9
374.9
410.4
347.8
do
. do_.do
do. do
1.1
67.2
4, 125. 5
2
1,720.2
2
97.6
1.5
70.9
4, 325. 1
1, 793. 5
101.1
.1
6.1
350.1
165.4
4 9
.2
6.1
335.3
159.6
4.6
.2
5.9
356.8
164.5
5.9
.1
6.9
337.4
149.9
7.5
.1
6.0
354.5
150.9
7.9
.1
5.7
371.4
148.0
10.7
.1
6.0
408.9
150.3
13.0
(3)
5.7
398.2
137.3
13.6
6.6
368.3
128.9
12.4
.1
6.3
403.9
152.2
9.6
.3
6.8
340.7
145.7
5.7
do__do
do. -
775.8
587.0
2219.6
797.2
626 4
244.4
48.5
44 4
20.7
43.3
43.0
17.7
51.3
45. 1
19.5
50.4
42.1
21.1
58.6
47.3
22.9
74.7
53.0
21.5
92.9
62.9
23.0
92.5
70.5
21.2
89.1
62.8
20.1
90.2
67 7
23.7
58.3
52 7
24. 1
do. _ do
do
47.1
127. 6
* 307. 1
48.9
134.1
323 9
4.2
17.2
21 6
4.1
17.5
21.7
4.3
19.6
23.5
4.0
16.5
24.1
4.3
15.8
27.1
3.0
9.2
31.2
4.0
4.8
35 3
3.*
4.7
35.5
3.0
3.1
30.9
3.9
5.9
30 0
3.6
7 8
24 1
Stocks, end of period, total
do
Crude petroleum
. . _. _ _ _ _ _ _ d o
Natural-gas liquids
do
Refined products ... . . _ _ .
. . _ . _ do.--
836.3
220.3
35.9
580.2
Change in stocks, all oils (decrease,—)
Demand, total
Exports:
Crude petroleum
Refined products
.. _
Domestic demand, total 9
Gasoline
_.
Kerosene
_
_.
Distillate fuel oil
Residual fuel oil
Jet fuel
Lubricants
Asphalt .
Liquefied gases
Refined petroleum products: I
Gasoline (incl. aviation):
Production
Exports _ _ _ _ _ _ _
Stocks, end of period..-
_
_
do
do
..do _.
2
1 704
4
2
4.8
2
183 1
41.5
39.7
-10.7
r
T
874. 5 ' 860. 3 ' 879. 4 ' 892. 8 ' 905. 4 ' 916. 9 906 2
' 238 4 ' 253. 4 ' 246. 9 ' 245. 3 ' 238. 2 ' 236. 1 '241.7
50.6
52.2
47.9
52.4
46.3
40.4
41.4
628.7 616.6
586.2
596.8 614. 8
555.5
595.7
1 792 6
36
194 2
146 8
4
185 9
156.0
.4
183.3
157.2
.4
177.0
Prices (excl. aviation):
Wholesale, ref. (Okla., group 3) _ $ per gal.
.118
.118
.118
.113
.114
Retail (regular grade, excl. taxes), 55 cities
(1st of following mo.)
$ per gal._
.221
.218
.218
.208
.216
' Revised.
1 See note "Q" for p. S-21.
2 Beginning Jan. 1965, gasoline excludes
special naphthas; aviation gasoline represents finished grades only (alkylate excluded);
com3
mercial jet fuel4 (formerly included with kerosene) is included with jet fuel.
Less than
50,000 bbls.
Beginning Jan. 1965, data include demand for liquid refinery gases formerly
shown under petrochemical feedstocks; comparable 1964 total, 295.1 mil. bbls.
9 Includes
data not shown separately.
§Includes nonmarketable catalyst coke.
JRevisions for Jan.-Oct. 1964 will be shown
later.
36.0
35.4
151.3
.4
179.7
155.5
.3
185.2
.118
.115
.115
.219
.219
.220
149.3
.4
187.2
-12.8
' 874. 5 ' 875. 9 ' 857. 5 ' 844. 6
' 238. 4 ' 250. 6 ' 252. 4 ' 258. 1
35.6
33.3
35.8
40.4
589.6
571.8
550.8
595.7
156.1
.2
194.2
154 3
.3
212 A
136 4
.4
221.2
.113
.113
.221
.220
r
3.00
33.4
878.1
266.8
44.3
567.0
146 2
3
216 2
142 7
3
214 7
.115
.120
.120
.120
.227
.227
.226
.224 '
.228
. 226
FOOTNOTES FOR ELECTRICAL EQUIPMENT, P. S-34.
IData reflect adjustment to the 1963 Census of Manufactures; revisions back to 1963 are
available.
ORadio production comprises table, portable battery, auto, and clock models; television
sets cover monochrome and color units.
SURVEY OF CURRENT BUSINESS
S-36
1965
Unless otherwise stated, statistics through 1964
and descriptive notes are shown in the 1965
edition of BUSINESS STATISTICS
1966
1 1966
1
Annual
August 1967
June
July
Aug.
Sept.
1967
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
PETROLEUM, COAL, AND PRODUCTS—Continued
PETROLEUM AND PRODUCTS— Continued
Refined petroleum products— Continued
Aviation gasoline:
Production
mil. bbl
Exports..
_
_do
Stocks, end of period.. _
do ..
Kerosene:
Production
.__
. .do
Stocks, end of period..
_.do
Price, wholesale, bulk lots (N.Y. Harbor)
$ per gal.
Distillate fuel oil:
Production
mil. bbl
Imports..
.
_do _ _
Exports
do
Stocks, end of period
do
Price, wholesale (N.Y. Harbor, No. 2 fuel)
$ per gaLResidual fuel oil:
Production
mil. bbl
Imports
_
. _ do .Exports
do
Stocks, end of period
do
Price, wholesale (Okla No. 6)
$ per bbl
Jet fuel (military grade only) :
Production
mil. bbl
Stocks end of period
do
Lubricants:
Production
do
Exports
do
Stocks end of period
do
Price, wholesale, bright stock (midcontinent,
f o b Tulsa)
$ per gal
Asphalt:
Production
mil bbl
Stocks end of period
do
Liquefied petroleum gases:
Production
do
Transfer from gasoline plants
do
Stocks (at plants, terminals, underground, and
at refineries) end of period
mil \>bl
Asphalt and tar products, shipments:
Asphalt roofing total
thous squares
Roll roofing and cap sheet
do
Shingles all types
do
Asphalt siding
Insulated siding
Saturated felts
148.6
i 4.2
'8.3
41 2
3.2
7.8
3.2
.4
7.2
3.5
.4
7.0
3.6
.4
7.2
3.5
.4
7.3
3.6
.3
7.4
3.5
.4
7.1
3.7
2
7.8
3.3
.3
8.2
3.1
.4
8.3
2.9
.3
7.7
3.0
.3
7.9
194.5
124.1
102. 1
25.0
7.2
23.5
8.1
27.1
9.0
30.3
7.7
30.4
7.8
30.4
8.2
27.9
10.1
25.0
10.1
21.5
9.2
18.3
8.5
17.2
7.2
18.7
.098
.104
.102
.102
.102
.105
.105
.105
.107
.107
.109
.109
.109
765.4
13.0
785.8
13.8
4 5
154.1
62.1
1.8
.3
117.7
67.3
1.1
.3
142.5
69.2
1.0
.3
161.1
65.9
1.1
.4
177.4
66.6
1.4
.2
186.6
63.2
.9
.3
175.8
69.9
1.6
.4
154.1
68.6
1.1
1
131.3
61.9
.9
.3
104.7
70.1
2.7
.3
87.0
63.0
1.4
.4
92.8
.090
.094
.092
.092
.092
.095
.095
.095
.097
.097
.099
.099
.099
.099
268.6
345.2
264 0
12.9
61.2
1.62
19 6
27.8
1.1
51.7
1.55
21.6
27. 1
.9
56.9
1.55
20.9
27.4
.9
59.6
1.55
20.4
25.0
1.4
61.6
1.55
21.2
28.9
.8
64.0
1.55
21.7
31.2
.7
63.5
1.65
25.3
36.1
1.1
61.2
1.65
25 4
44.3
1.6
59.1
1.65
23 2
38.3
1.4
56.6
1.50
24.2
41.1
1.6
52.9
1.45
22.8
36.5
1.3
58.6
* 1.45
1.45
i 191. 2
1
18.7
215. 5
19 4
18.6
19 8
17.8
23.0
16.3
23.7
17.7
22.6
19.5
21.1
19.6
20.8
19.6
19.4
19 4
19 4
20.0
20.7
21.5
20.4
21.9
20.2
62.9
16.6
13.3
65.4
17 1
12.7
5.1
15
12.5
5.8
1.7
12,5
5.8
1.3
12.6
5.4
1.7
12.4
5.8
1.7
12.2
5.2
1.5
13.0
5.2
1.5
12.7
55
12
13 1
5.0
1.4
13.7
5.5
1.9
13.4
5.4
1.7
13.5
3.8
155.4
14.9
56.2
1.83
376.8
.270
.270
.270
.270
.270
.270
.270
.270
.270
270
.270
.270
.270
123 6
16 2
129 6
17.3
13 8
23.6
14.1
20.9
14.8
16.9
14.2
15.3
12.9
13.3
10.0
14.4
7.5
17.3
69
20 4
57
23.0
8.1
25.4
9.0
26.8
56.1
200 2
60.1
215. 1
4.9
13 3
5.1
13.2
5.0
14.3
4.6
15.8
4.8
18.8
4.8
22.2
5.1
25.8
55
25 4
5.1
22.0
5.8
20.1
5.5
14.9
32 0
37.7
37 4
43.1
47.7
49.8
49.6
45.2
37.7
32 5
29 9
32.6
40 7
8 127
3 050
6,540
2,582
3,958
3,033
7,161
7,194
3,107
3,555
4,087
6,783
3,099
3,684
5,142
2,441
4,128
2,702
1,773
1,782
3 422
1 652
1 770
3 680
1,506
2,174
3,106
44
52
77
60
59
80
62
60
77
68
55
76
53
41
66
37
22
53
31
16
49
31
20
52
72,338
69,363
28, 293
44, 044
28, 917
40, 446
628
590
980
554
'504
880
do
do
thous. sh. tons
5,077
48
' 62
99
.109
.270
6 089
* 6, 430
2,349 ' 2, 416
3,740 ' 4, 014
7,997
2,996
5,000
41
25
73
34
34
70
33
40
66
41
56
82
5,337
2,232
PULP, PAPER, AND PAPER PRODUCTS
PULPWOOD AND WASTE PAPER
Pulpwood:
Receipts
Consumption
Stocks end of period
Waste paper:
Consumption
Stocks end of period
thous cords (128 cu ft )
do
do
2
2
thous. sh. tons
do
2
WOODPULP
Production:
Total, all grades
thous sh tons
Dissolving and special alpha
do
Sulfate
do
Sulfite
do
2
4,507 p4,686
4,797 *> 4, 550
5,708 p 4, 857
58 881
55 382
6 059
4 957
4 664
5 313
4 772
4 564
5 453
5 020
4 792
5 639
4 730
4 418
5 908
4,827
4,978
5 829
4 497
4 646
5 703
4 716
4 366
6 059
4 759
4 844
5 835
4 526
4 454
6 020
5 105
4 801
6 286
4,361
6 410
10,297
2
10, 159
620
682
894
511
746
562
893
576
837
596
877
622
814
648
752
682
808
650
770
616
829
640
788
630
33,921
35 736
1,557
22 353
3,017
2 904
3 130
3,133
3 047
3, 129
3,065
132
2 801
2 897
131
3 076
115
2,820
140
134
110
139
106
128
1,967
1,969
2
53 736
52,828
2
1, 482
21, 473
2
2, 692
2
2,804
134
118
1,752
116
4,759
5,994
r
815
p817
3,133
2, 966
r
642
p630
102
1,858
1,898
1 847
1 980
1,970
1 923
1 944
1,849
236
220
243
228
245
1 753
1,981
243
209
230
221
238
233
239
228
337
131
290
350
134
314
343
137
298
'786
23 532
1 647
3, 094
3 962
1 530
3 421
322
134
286
318
131
273
341
132
300
319
131
273
353
136
299
334
113
300
322
119
281
348
132
288
322
124
271
345
132
294
do
do
do
do
759
241
436
82
729
258
387
84
716
233
393
91
746
249
408
89
775
266
418
91
743
252
398
92
773
296
386
91
760
292
382
86
729
258
387
84
751
289
379
83
778
323
379
76
805
322
407
76
76
813
356
380
77
Exports, all grades, total
Dissolving and special alpha
All other.
do
do
do
3 1,402
1 572
897
1 009
132
54
78
121
24
97
123
42
81
146
49
97
109
42
67
136
47
88
133
42
90
103
39
64
113
38
75
172
83
89
128
36
92
133
31
101
185
77
108
Imports, all grades total
Dissolving and special alpha
All other.
do
do
do
3 127
3 355
280
293
300
28
272
279
26
254
320
29
290
258
22
236
290
17
274
282
21
261
293
35
258
287
20
267
261
19
242
297
25
273
245
20
226
269
25
245
273
21
251
3 677
1,586
1 769
4 097
1,727
1,966
3 780
1,658
1,803
i 090
1,783
1 992
3 859
1,692
1 881
3 612
1,626
1 742
3 914
1 868
3 684
1,654
1 753
4 015
1,794
1 895
3 812
1,730
1,856
12
323
12
307
12
304
12
232
12
260
11
266
13
313
Groundwood
Defibrated or exploded
Soda, semichem screenings etc
Stocks, end of period:
Total, all mills
Pulp mills
Paper and board mills
Nonpaper mills
do
do
do
2
2
3535
2,847
563
3 065
T
324
r
386
PAPER AND PAPER PRODUCTS
Paper and board:
Production (Bu. of the Census):
3 996
All grades total unadiusted thous sh tons
44 049
46 558
Paper,.
do
1,699
19, 113
23 228
Paperboard
do
1 946
20 866
2° 483
12
Wet-machine board
do
145
138
Construction paper and board
. _do
339
3.925
3.709
r
Revised.
v Preliminary.
c Corrected.
1 See3 note 2 for p. S-35.
annual total; revisions not allocated to the months.
See note "Q" for P- s~21-
9
313
2
Reported
11
275
1^774
11
215
r
3 934 v 3, 886
' 1, 735 P 1, 695
^1,876 p 1,861
12
pl2
'311
p318
July
SURVEY OF CURRENT BUSINESS
August 1967
1965
Unless otherwise stated, statistics through 1964
and descriptive notes are shown in the 1965
edition of BUSINESS STATISTICS
1967
1966
1 1966
June
Annual
S-37
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Mar.
Feb.
Apr.
May
June
July
PULP, PAPER, AND PAPER PRODUCTS—Continued
PAPER AND PAPER PRODUCTS— Con.
Paper and board— Continued
New orders (American Paper Institute) :§
44 296
Wholesale price indexes:
Paperboar d
Building paper and board
Selected types of paper (API):§
Fine paper:
uraerb, iit w _ _.
-
Production
„
..
Shipments
Printing paper:
Orders, new
_ . _ ... -..
Orders, unfilled, end of period
Production
Shipments
Coarse paper:
Orders, new Orders, unfilled, end of period
...
3 703
r
3, 972
r
4 036
3 791
4 077
3,742
3,582
4,107
3,637
3,913
3, 896
101.9
116.7
97.2
93. 0
101.9
116.7
97.2
101.9
116.7
97.2
101.9
116.7
97.3
101.9
116.7
97.3
101.9
116.7
97.3
101.9
111.8
97.3
101.9
117.8
97.3
223
169
208
160
202
159
230
164
215
158
'238
-•157
'233
' 171
P229
P168
235
224
990
214
205
9
237
31
222
993
'237
997
r 935
'226
' f)'-)6
P236
p °36
562
583
515
543
556
553
581
494
'561
'553
^562
572
496
101 4
110 6
96.4
93.0
101 7
115 1
97.1
92.8
101 9
114.6
97.2
92.6
101 9
115.6
97.2
101 9
116.7
97.2
93.0
2 429
150
2 637
230
204
189
211
186
233
159
do_-_
do
2,410
2, 413
2,641
2, 623
227
201
226
216
do
do
6,198
510
6,711
553
580
626
546
555
563
656
621
610
do
do
5,993
5,993
6,511
6,514
556
556
513
513
561
561
547
547
571
543
539
558
518
'565
CIO
r 5g5
'535
r 535
P576
j, 5jf]
4,590
210
4,723
200
390
240
369
215
398
234
374
227
392
214
392
205
382
200
392
393
212
225
'422
'223
'393
'214
P379
pl97
do
do
4,591
4,564
4,696
4,704
397
396
365
399
389
388
399
392
372
400
OQ7
392
37fi
'429
' 436
'402
' 390
P412
p 397
do
_do
do
7,720
7,747
150
8,419
8,385
184
698
687
241
703
730
667
698
659
695
670
704
652
/40
184
270
602
327
369
348
311
250
.do
do
do
2,180
2,183
19
2,408
2,405
21
205
222
.
- . _ do _ .
do
Production . _.
Shipments
Newsprint:
CanadaProduction
Shipments from mills.
..
Stocks it mills end of period
United States:
Production
._
Shipments from mills
Stocks at mills end of period
4 0°5
101.9
116.7
97.2
92. 7
do
do
i uu .
46 886
Consumption by publisherscf
do
Stocks at and in transit to publishers, end of
period
thous sh tons
Imports
do
Price, rolls, contract, f.o.b. mill, freight allowed
Paper board (American Paper Institute) : A
Orders, new (weekly avg.)
thous. sh. tons
Orders, unfilled, end of period
-. . -do „ _
Production, total (weekly avg.)
.. ._ do.-_
Percent of activity (based on 6.5-day week)
Paper products:
Shipping containers, corrugated and solid fiber,
shipments^
mil so ft surf area
Folding paper boxes, shipments, index of physical
volume
-.1947-49 = 100
185
168
227
204
18
666
278
709
299
677
703
272
726
717
281
714
738
258
cro
09 9
7-1 q
194
211
192
212
225
223
227
195
27
214
215
28
227
207
30
211
210
28
198
186
26
205
21
39
51
51
54
32
27
582
641
626
593
542
511
585
609
616
568
737
700
705
681
682
672
676
654
676
711
605
601
577
563
500
549
528
614
601
138 40
138 40
138 40
138 40
450
705
453
459
695
452
448
690
452
446
614
460
6 387
6 898
573
522
547
573
681
677
688
729
632
OQ-I
Q9 A.
494
587
624
998
6,323
6 991
iqo Aft
iqc 90
138 40
138 40
138 40
138 40
138 40
138 40
138 40
138. 40
i 417
1796
449
724
445
452
999
457
391
999
410
449
975
450
429
937
435
456
748
404
451
720
455
94
84
92
90
442
883
463
94
412
731
423
92
461
943
463
95
84
91
92
91
90
88
89
148 471
160 152
13, 672
12,371
14,036
14, 227
14, 353
13, 798
12, 982
12, 298
12,098
14, 056
12, 747
13,999
13, 923
128.2
134.1
142.9
123.6
145.1
143.4
140.6
132.8
140.1
124.6
122.4
141.7
128.6
136.5
141.6
P 115.7
. 206
410
90
393
654
377
73
RUBBER AND RUBBER PRODUCTS
RUBBER
Natural rubber:
Consumption
thous Ig tons
Stocks end of period
do
Imports incl latex and guayule
do
Price, wholesale, smoked sheets (N.Y.)__$ per lb_.
Synthetic rubber:
Production
thous Ig tons
514 71
100 01
445 32
.257
554 13
82 87
431 66
.236
47 53
90 84
42 40
.236
1 813 23 1 969 97 161 53
i ^4n 1 1 1 666 06 1 *}Q 97
311 95
348 69 323 96
308 44
24 59
2 281 78
Stocks end of period
Exports
do
do
Reclaimed rubber:
Production
Consumption
Stocks end of period
do
do
do
280 29
269 54
30 16
277 36
264 51
32 29
24 66
22 90
32 18
37 72
92 77
25 94
.234
155
112
342
28
49
43
71
01
18 *67
17 65
32 41
46 79
88 75
38 05
.230
160
136
338
25
55
50
91
39
22 93
20 87
32 41
48.89
87 59
34.22
.219
46.57
86 69
34. 52
.223
42.43
82.87
29.54
.220
45.25
95.03
39.37
.219
42.68
98.07
33.06
.208
38.56
48.11
104.98 '107. 68
51.75
33.58
.206
.208
30.24
119.66
36.61
.208
24.13
.220
18
60
22
18
168.11
151 70
334 99
24 39
170.91
142 76
340 40
24 10
166. 83
140 16
348 69
23.37
164.54
146 33
352. 28
26.26
150. 12
133 78
347. 55
25.24
164. 60 '154. 98
146 32 127 30
345. 57 '353. 99
25.07
22.81
138. 35
108 10
354. 63
27.40
26.56
21 83
21 76
30 72
24 02
93 83
30 62
21.94
20 88
30 36
22.72
20 71
32.29
22.21
21 66
31.00
20.73
20.33
30.82
23,32
21.58
32.38
47 94
86 62
30 69
.223
164
142
337
25
17.98
19.55
r 30. 12
14.04
15.53
28.04
TIRES AND TUBES
Pneumatic casings, automotive:
Production
thous
167 854
177 169
14 473
12 187
13 959
14 809
15 869
15 000
14 483
15, 058
14, 147
15, 070
12,424
8,734
8,748
Shipments, total
Original equipment
Replacement equipment
Export
do
do
do
do
169 060
58* 280
107 905
2 875
173 464
54* 680
lie' 348
2 436
16 220
4 900
11 161
159
12 901
2 446
10 292
163
12 691
2 066
10 358
197
16 015
4 684
11 133
199
16 558
5 269
11,020
269
13 858
5,171
8,511
176
12 388
4 629
7,564
196
13, 166
4,143
8, 845
178
11,353
3,234
7,898
222
14, 434
4,455
9,782
198
16, 299
4,330
11,788
181
16, 265
4,835
11,293
137
16, 201
4, 694
11,401
105
Stocks , end of period
Exports (Bu. of Census)
do
do
37 016
2 2 381
42 569
2 051
39 601
147
39 166
151
40 856
153
39 565
166
39, 093
161
40, 393
181
42, 569
165
44, 678
123
47, 594
115
48, 273
156
44, 410
147
37, 088
107
29, 878
101
Inner tubes, automotive:
Production
Shipments
Stocks, end of period
Exports (Bu of Census)
do
do
do
do
41 342
41 936
11 839
2 1 igg
42 765
44 222
11 996
1 100
3 669
3 770
11 107
80
3 185
3 402
11 119
96
3 301
3 399
11 163
74
3 743
3 739
11 065
102
3 773
3 834
11*276
104
3 490
3 228
11 704
86
3 434
3 219
11 996
85
3,496
4 630
10 846
68
3,385
3 312
10 947
55
3,809
3,762
10, 922
101
3,103
3,531
10, 631
108
2,696
3,546
9,888
65
2,871
3,412
9,337
71
T
Revised.
p Preliminary.
i Beginning Jan. 1965, monthly data are 4-week averages
for period ending Saturday nearest the end of the month. Annual
data for new orders are
52-week averages: those for unfilled orders are as of Dec. 31. a See note "O" for p. S-21.
d* As reported by publishers accounting for about 75 percent of total newsprint consumption.
J Revisions for Jan. 1964-Feb. 1965 will be shown later.
§Fprmerly American Paper and
Pulp Association.
AFormerly National Paperboard Association.
SURVEY OF CURRENT BUSINESS
S-38
1965
Unless otherwise stated, statistics through 1964
and descriptive notes are shown in the 1965
edition of BUSINESS STATISTICS
1967
1966
1966
Annual
August 1967
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
STONE, CLAY, AND GLASS PRODUCTS
PORTLAND CEMENT
Shipments, finished cement
thous bbl
374 086 1380 665
41, 724
37 941
43,176
38,672
38,400
29, 195
21 044
18, 457
17, 066
24, 758
27, 940
34,765
8, 089. 1
313 3
1 732 2
7 606 2
267 4
1 610 3
812.3
24 5
174.4
709.3
23 2
159.0
746.9
24 9
159.8
636.7
23 2
148.2
615.9
25 2
139.2
544.0
21.6
115.4
408.8
20 4
90.7
410.6
18. 1
82.9
369.8
21.0
72.1
555.5
24.4
124.0
609.9
'21.8
119.3
655.5
19.5
141.3
326 9
308 1
29.2
27.1
28.7
26 3
25.2
23.7
22.2
22.0
15.3
19.2
'19.9
22.4
283 4
272 7
26 1
21.8
23 7
22 3
20 8
20 3
18 9
18.9
19.1
22.9
'20.8
23.0
108 4
111.5
111.8
111.9
111 9
112.1
112 9
112.2
112.4
112.9
112.9
112.9
113.1
354 308
343 138
86, 554
80, 852
87 930
76, 736
140 559
213 749
136 785
206 353
34 401
52, 153
34,088
46, 764
34 755
53, 175
28,388
48, 348
202 050
211 764
18 996
18, 027
19 821
17 163
18 392
16 064
15 609
17 119
16, 852
18, 040
19, 185 '19 170
19,318
195 924
204, 093
19, 337
17, 125
19, 768
18, 878
15, 981
15, 971
16, 197
15, 271
15, 010
18, 485
17,458 '18, 873
19, 965
21 548
21 605
1,653
1,578
2,533
2,767
1,760
1,478
1,403
1,448
1,651
2,056
1,804
' 1,818
1,889
53 742
52 168
4 580
3 977
4 982
4 958
4 450
4 395
4 040
4 329
4,079
4,432
4,023
' 4 222
4,381
1
CLAY CONSTRUCTION PRODUCTS
Shipments:
Brick, unglazed (common and face)
mil. standard brick
Structural tile, except facing
thous sh tons
Sewer pipe and fittings, vitrified
do
Facing tile (hollow) , glazed and unglazed
mil. brick equivalent
Floor and wall tile and accessories, glazed and unglazed
mil sq ft
Price index, brick (common), f.o.b. plant or
N.Y. dock...
1957-59=100
111.9
GLASS AND GLASS PRODUCTS
Flat glass, mfrs.' shipments
thous $
Sheet (window) glass, shipments
Plate and other fiat glass, shipments
Glass containers:
Production
do
do
thous gross
Shipments, domestic, total
do
General-use food:
Narrow-neck food
do
Wide-mouth food (incl. packers' tumblers,
jelly glasses and fruit jars)
thous gross
Beverage
Beer bottles
Liquor and wine
do
do
do
20 283
36 134
17 273
27 098
38 895
17 608
3 350
4 197
1 540
3,236
4,190
1,120
2 579
3,893
1,507
2,287
3,050
1,506
1,533
2,759
1,757
2 016
2 787
1,617
2 677
3,234
1,368
1,852
2,692
1,338
1,918
2,631
1,291
2,763
3,885
1,682
2,796
3,890
1,495
'3,304
' 4, 329
1,602
4,321
4,454
1,567
Medicinal and toilet
Chemical household and industrial
Dairy products
do
do
do
38 797
6 882
1 265
39 766
5 812
1 141
3 415
510
92
2 555
393
76
3 627
544
103
3,647
546
117
3,210
426
86
3, 136
448
94
2,943
424
108
3,093
442
77
2,865
497
78
3,069
505
93
2,959
425
66
3,074
453
71
2,860
424
69
do
26 945
30 084
31 892
32 408
31 926
29,684
31 735
31 280
30, 084
31,500
32, 964
31, 943 '33, 580 '33, 223
31, 786
5 911
10 035
5 479
9 635
1 487
2 678
1,706
2,535
1,253
2 177
do
9 320
8 258
2 305
2 111
1 768
do
do
4 580
319
4 627
322
1 430
82
1 339
80
1 072
80
do
do
828
976
678
s 904
191
238
185
252
136
206
1 368
8 083
271
1 089
6 930
298
316
1 996
76
294
1 828
55
215
1 483
43
940
667
254
953
673
262
Stocks, end of period
GYPSUM AND PRODUCTS (QTRLY)
Crude gypsum, total:
Imports..
Production
thous sh tons
do
Calcined, production total
Gypsum products sold or used, total:
Uncalcined uses
Industrial uses
Building uses:
Plasters:
Base-coat
All other (Incl Keene's cement)
Lath
Wallboard
All other
mil sq ft
do
do
TEXTILE PRODUCTS
WOVEN FABRICS
Woven fabrics (gray goods), weaving mills: f
Cloth woven, total 9
mil linear yd
Cotton
do
Manmade
fiber
do
13 037
9 262
3 517
12 689
8 866
3* 571
2 i 237
2 856
2
353
824
557
249
1 010
712
279
2
1 210
2 854
2335
1 001
705
280
1 001 2 1,081
2 778
722
2285
265
2
1, 158
2823
2312
'956
674
'262
957
670
267
Stocks, total, end of period 9 cf
Cotton
Manmade
fiber
do
do
do
1 139
676
442
1 306
766
521
1 084
620
444
1 175
656
501
1 194
703
473
1 180
673
489
1 219
702
500
1,257
730
509
1,306
766
521
1,333
785
528
1,311
786
505
1,307
782
504
1,323
806
497
1,363
835
511
Orders, unfilled total end of period 9 ^f
Cotton
.
Manmade
fiber
do
do
do
4 140
3,023
999
3 222
2 408
746
4 453
3 305
1 046
4 500
3^302
1 105
4 135
3 124
925
3 883
2 952
855
3 727
2 839
821
3 382
2,533
783
3 222
2,408
746
3 209
2,423
718
3 059
2,251
737
3 046
2,290
686
2 801
2,020
'708
2,682
1,866
738
T
14 933
'9 562
10
'395
r
14, 973
9 296
'9 575
9 647
COTTON
Cotton (exclusive of linters):
Production:
GinningsA
thous running bales
Crop estimate, equivalent 500-lb. bales
thous. bales
Consumption
do
Stocks in the United States, total, end of period
93 735
23 680
9' 533
19 619
1 528
105
do
do
do
do
... do .
r3
9 211 '49,533
'59,562
257
7
2
953
622
17 467
17 396
147
15,761
1 488
71
16 862
16 801
188
15,274
1 339
62
769
26 902
20 438
26 803
20 359
11 318
1 294
14,177
17*639
1 308
1 426
99
79
l
' Revised.
Beginning Jan. 1965, excludes finished cement used in the manufacture of prepared masonry cement (2,734 thous. bbls. in 1964); annual totals include3 revisions not distributed to the months.
2 Data cover 5 weeks; other months, 4 weeks.
Ginnings to Dec. 13.
< Ginnings to Jan. 7 15.
s Crop for the year 1966.
s includes revisions not distributed
to the quarters.
Aug. 1 estimate of 1967 crop.
f Data shown here are not strictly comparable with those for earlier periods for the following reasons: Beginning Jan. 1964, fabric
classifications were revised and manmade fiber drapery fabrics were added; beginning Jan.
1966, data reflect further changes in reporting classifications, principally cotton blends.
Domestic cotton , total
On farms and in transit
Public storage and compresses
Consuming establishments
Foreign cotton, total
...
1 341 '5 007 r 8, 757
2 932
25
25
9
14
1
202
109
993
012
104
93
781
759
23 615
23* 535
6 545
15, 873
1 117
80
21 904
21 822
2,255
18, 229
1 338
82
2
852
770
749
2906
748
733
2889
20 438
20 359
1 294
17, 639
1 426
79
19 070
18 991
1,099
16, 262
1,630
79
17 747
17, 669
853
14, 942
1,874
78
16 565
16, 496
730
13, 779
1,987
69
15 566
15, 505
851
12, 664
1,990
61
14 462
H] 410
755
11.690
1,965
52
13 192
12,624
513
10 818
1,850
56
8, 332
9 Includes data not shown separately.
cf Stocks (owned by weaving mills and billed and held for others) exclude bedsheeting,
toweling, and blanketing, and billed and held stocks of denims. Effective Aug. 1965, stocks
cover additional manmade fiber fabrics not previously included.
^Unfilled orders cover wool apparel (including polyester-wool) finished fabrics; production
and stocks exclude figures for such finished fabrics. Orders also exclude bedsbeeting,
toweling, and blanketing.
ATotal ginnin^s to end of month indicated, except as noted.
S-39
SURVEY OF CURRENT BUSINESS
August 1967
1965
Unless otherwise stated, statistics through 1964
and descriptive notes are shown in the 1965
edition of BUSINESS STATISTICS
June
Annual
1967
1966
1966
July
Aug.
Sept.
Oct.
Dec.
Nov.
Jan.
Feb.
Mar.
Apr.
May
June
July
TEXTILE PRODUCTS—Continued
COTTON— Continued
Cotton (exclusive of linters)— Continued
Fxports
thous bales
3,795
99
128.0
!29.6
7
3,597
100
20. 5
721.9
176
4
29.3
29.6
142
2
29.7
29.6
341
39
«21.2
«22.0
348
7
21.2
21.9
306
11
22.4
21.8
518
3
21.9
21.8
607
(<)
22.0
21.9
458
7
19.8
22.0
458
5
20.7
22.0
401
5
20.5
22.1
288
3
20.4
22.2
416
19
19.7
22.2
19.9
22.4
1,406
1,635
734
1,366
1,419
725
2138
58
711
91
37
641
104
42
584
2123
63
527
105
153
567
93
168
636
293
158
725
91
152
778
89
111
810
2105
113
828
94
65
831
87
'37
765
2104
40
697
18.9
14.7
128.0
.493
102. 9
19.5
15.1
132.1
.509
102.4
19.3
14.8
212.9
.515
29.9
19.3
14.8
8.6
.430
6.6
19.5
15.1
10.6
.530
8.2
19.6
15.1
212.9
.514
19.5
15.1
10.2
.508
7.9
19.5
15.1
.453
28.8
19.8
15.3
10.1
.503
7.8
19.8
15.3
10.0
.499
7.8
19.8
15.3
211.3
210.1
19.5
15.1
10.5
.527
8.3
.477
29.3
20.0
15.3
10.0
.501
7.7
19.7
15.0
9.9
.496
7.5
19.6
14.8
212.3
.491
29.3
.629
.891
.949
.667
.954
.667
.959
.962
.962
.960
.953
.953
.951
.945
.940
.934
.932
9,238
8,846
2,287
20.3
18.4
21.7
28.7
20.2
19.8
18.6
17.6
18.4
16.1
14.9
14.5
13.7
12.7
12.3
4.5
4.5
3.8
5.0
3.8
3.8
3.9
4.1
4.5
4.3
4.2
4.4
4.5
4.7
5.1
.23
337.51
.25
339.39
.17
38.72
.17
38.75
.18
40.40
.18
40.60
.21
40.67
.23
40.41
.25
39.54
.26
39.12
.29
38.88
.32
38.61
.33
38.13
.37
37.50
.40
36.14
34.9
18.6
17.5
35.8
18.7
18.0
36.2
18.8
18.0
36.2
18.8
18.0
36.2
18.8
18.1
36.2
18.8
18.1
36.2
18.8
18.3
36.2
18.3
18.3
36.2
18.3
18.3
17.8
17.3
18.4
3, 532. 2
825.0
648.0
3,860.1
799.8
659.2
996.9
198.8
172.8
980 7
9Q1 7
168 5
943 1
197 6
150.9
935.1
181.3
155.3
r 5 60.5
' 5 42.6
558.4
M5.2
997.7
779.2
282.3
1, 164. 7
904.0
332.4
291.2
250.0
84.1
302 9
222 4
85 2
298.5
210 8
85 3
298.2
224.3
76.0
« 99, 923
« 50, 763
98, 722
55, 522
8,262
5,104
7,290
4,394
7, 056
4,025
7,484
5,165
7,889
5,779
7,533
4,162
8,609
7,608
8,069
6,514
8,101
7,034
7,453
6,314
7,492
6,290
6,685
7,599
15,690
130, 108
16, 571
177, 570
1,795
13, 825
1,198
14, 308
1,843
17,303
1,416
12,411
923
13, 349
1,600
11,910
1,587
14, 246
2,237
9,563
3,357
13,600
1,908
14,488
1,574
10, 674
1,666
9,465
59.8
55.8
67.3
70.1
55.0
54.7
63.7
65.9
66.5
70.9
66.8
74.5
65.6
70.7
64.4
64.4
67.3
70.1
70.2
74.5
68.6
80.1
63.3
82.8
'60.9
80.8
61.7
78.4
109.3
96.7
32.2
150.2
129.8
42.5
117.8
109.7
23.3
.28
.85
.80
.28
.80
.80
.28
.84
.80
.72
.81
.72
.81
.68
.81
2
22.1
26.8
17.6
5.7
'18.6
'6.6
13.9
3.2
'19.0
'7.1
13.9
5.6
223.3
26.4
1.235
.975
1.175
Prices (farm), American upland
cents per lb-_
Prices middling 1", avg. 15 markets
do
Cotton linters:
Consumption
thous bales
Production
do
Stocks end of period
do
COTTON MANUFACTURES
Spindle activity (cotton system spindles):
Active spindles, last working day, total
mil-Consuming 100 percent cotton
do
Spindle hours operated, all fibers, total
bil_Average per working day
do
Consuming 100 percent cotton
do
Cotton yarn, natural stock, on cones or tubes:
Prices, f.o.b. mill:
20/2, carded, weaving!
$perlb_36/2 combed knittings
do
Cotton cloth:
Cotton broadwoven goods over 12" in width:
Production (qtrly.)
mil. lin. yd-Orders, unfilled, end of period, as compared with
avg. weekly production
No. weeks' prod-Inventories, end of period, as compared with
avg. weekly production, -No. weeks' prod-Ratio of stocks to unfilled orders (at cotton
mills) end of period, seasonally adjustedA
Mill margins
. - __ cents per Ib
Prices, wholesale:
Denim mill finished §
cents per yd
Print cloth 39 inch 6 8 x 7 2 *
do
Sheeting class B 40-inch 48 x 44-48
do
M ANM ADE FIBERS AND MANUFACTURES
Fiber production otrly total
mil Ib
Filament yarn (rayon and acetate)
do
Staple incl tow (rayon)
do
Noncellulosic, except textile glass:
Yarn and monofilaments*
do
Textile glass
fiber
do
Exports:
Yarns and monofilaments
thous Ib
Staple tow and tops
do
Imports:
Yarns and monofilaments
do
Staple tow and tops
do
Stocks, producers', end of period:
Filament yarn (rayon and acetate)
mil, lb__
Staple incl tow (rayon)
do
Noncellulosic fiber, except textile glass:
Yarn and monofilaments*
do
Staple, incl. tow*
do
Textile glass
fiber
do
Prices, manmade fibers, f.o.b. producing plant:
Staple: Rayon (viscose), 1.5 denier
$ per lb_.
Polyester, 1.5 denier*
do
Yarn: Rayon (viscose), 150 denier
do
Manmade fiber and silk broadwoven fabrics:
Production (qtrly.), total 9
mil. lin. yd-Filampnt yarn (100%) fabrics 9
do
Chiefly rayon and/or acetate fabrics
do
Chiefly nylon fabrics
do._
Spun yarn (100%) fabrics (except blanketing) 9
mil. lin. yd._
Rayon and/or acetate fabrics and blends
do— Polyester blends with cotton
do
Combinations of filament and spun yarn fabrics
mil. lin. yd__
Exports, piece goods
-thous. sq. yd_.
WOOL
Wool consumption, mill (clean basis):
Apparel class
mil. lb_.
Carpet class. _ _ __
do
Wool imports, clean yield*
do
Duty-free (carpet class)*
do
Wool prices, raw, clean basis, Boston:
Good French combing and staple:
Graded territory,
fine
- $ per Ib
Graded fleece, $6 blood
do
Australian, 64s, 70s, good topmaking
do
3, 926. 2
1, 640. 6
855.8
303.9
8
r
4, 200. 7 1,091.4
1, 575. 5 405.8
733.8
187.1
334.7
83.2
.28
.72
.81
.28
.72
.81
.28
.72
.81
555.7
549.2
60.1
77.1
.72
.81
.72
.81
1, 006. 0
368.3
998.0
382.2
86.8
80.6
497.8
444 0
467 8
643.3
713.5
627.2
1, 049. 2
164.0
274.0
145.8
239.5
154.7
255.0
519.4
167, 083
481.2
173, 701
127.8
14, 222
12, 745
12, 821
114.6
14, 061
15, 227
15,062
112.8
17,971
274.7
112.3
271.6
108.9
266.6
103.6
277.2
114.6
*28.1
29.6
25.7
11.4
18.9
5.8
21.4
12.5
22.1
8.3
26.4
16.1
222.6
29.5
18.7
9.3
17.7
8.6
14.7
5.0
16.1
7.7
15.9
7.0
218.9
27.8
19.3
8.6
18.5
7.1
16.5
7.0
18.4
6.1
13.1
4.2
1.249
1.192
1.156
1.349
1.171
1.259
1.375
1.183
1.275
1.395
1.175
1.275
1. 395
1.165
1.275
1.390
1.120
1.275
1.360
1.098
1.275
1.325
1.097
1.275
1.325
1.075
1. 225
1.288
1.050
1.188
1.225
.975
1.175
1.213
.945
1.175
1.175
.918
1.125
1.175
.895
1.125
107.8
108.2
109.7
109.7
109.1
108.0
106.5
103.4
102.8
100.7
100.1
98.2
91.0
91.6
267.3
265.2
74.2
ino 7
irv7 o
mo 7
mo i
1 no 1
im K
im *>
2
s
Revised.
1 Season average.
For 5 weeks, other months, 4 weeks.
Margins
thru July 1966 reflect equalization payments toB domestic users (Aug. 61965-July 1966, 5.75
cents
per
pound).
"
Less
than
500
bales.
For
month
shown.
See
"O,"
P- S-21.
7
Season average to Apr. 1.
« Reflects decrease in the 1966 national average loan rate.
§Data beginning Aug. 1965 for knitting yarn, May 1966 for weaving yarn, and Aug. 1966
for denim are not strictly comparable with earlier prices.
.28
.75
.81
35.76
163.9
121.2
46.8
150.2
129.8
42.5
137.1
136.3
29.3
.28
.84
.80
18.4
1, 534. 6 1,909.1
WOOL MANUFACTURES
Knitting yarn, worsted, 2/20s-50s/56s, American
Woolen and worsted woven goods, exc. felts:
Production (qtrly.)
mil. lin. yd_Suiting, price (wholesale), flannel, men's and
2,181
2 083
.28
.84
.80
211.9
21.0
22.6
54 7
61 8
1.245
.938
1.175
61 8
ARevised data (1963-66) appear in U.S. Dept. Agriculture May 1967 COTTON SITUATION.
9 Includes data not shown separately.
•New series. Sources: Polyester staple price, U.S. Dept. Labor; wool imports, U.S. EjeptAgriculture from Bureau of the Census records (such imports exclude animal hairs): Data
are available as follows: Price, back to 1955; noncellulosic yarn and staple—production, to
1951; stocks, to 1953; wool imports, to 1948.
SURVEY OF CURRENT BUSINESS
S-40
Unless otherwise stated, statistics through 1964
and descriptive notes are shown in the 1965
edition of BUSINESS STATISTICS
1967
1966
1966
1965
August 1967
Annual
June
July
Aug.
Sept.
Nov.
Oct.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
19, 879
July
TEXTILE PRODUCTS—Continued
APPAREL
IT osier v shipments
Men's apparel, cuttings:}:
Tailored garments:
Suits
Overcoats and topcoats
thous doz pairs
194 753
210 425
18 252
15 794
20 597
19 095
19 938
20 096
15 873
18, 323
19 296
19, 234
17, 856
18, 990
thous. units
do
21 855
3 980
20 715
3 799
1 858
1,688
1 826
1,462
1,537
1,724
' 1, 532
'365
1,536
330
1,736
1,436
414
1,176 '1,090
1 103
1, 055
1 080
10 491 '11 038 '10 994 '12 322 ' 10, 571
1,119
11,173
Coats (separate) dress and sport
do
Shirts (woven fabrics) , dress and sport
thous doz
Work clothing:
Dungarees and waistband overalls
do
Shirts
do
Women's, misses', juniors' outerwear, cuttings:J
Coats
thous units
Dresses
do
Suits
do
Skirts
do
1 073
1 762
384
252
373
692
1 064
13 122
1 079
11 846
1 055
11 649
283
238
226
227
331
386
12 291
142 348
13 148
145 673
1 139
13 446
9 741
1 099
13 591
28 211
27 827
o 341
1 604
2 178
2 373
o 392
2 446
2 207
2,382
2,477
2,469
' 2, 129
2,083
4 862
3*906
5 909
4 096
487
356
380
272
584
348
520
354
533
332
520
331
591
288
'531
'325
'552
'348
'648
'372
'596
'314
633
339
25 274
282 071
11 859
24 595
271 107
10, 510
2 257
22800
2 144
17, 677
2 109
21,523
2,401
23,144
2,168
20,784
2,075
22,292
1,918
24, 592
918
984
881
'923
1,259
30,453 '27,523
'563
831
1,366
25, 748
791
932
1,680
18,311
852
2 451
21,897
899
1 39fi
1 f)OQ
1,075
1 OQQ
1 196
1 055
777
523
1 151
1 205
8 876
1 R os^i
10 225
977
881
1 1 fi3
929
824
992
764
762
756
710
572
1 350 ' 1 267 1 323
'786
725
792
TRANSPORTATION EQUIPMENT
!
AEROSPACE VEHICLES
Orders new (net) qtily total
U S Government
mil $
do
Sales (net), receipts, or billings, qtrly. total- -do
U S Government
do
U.S. Government
do
Aircraft (complete) and parts
do
Engine^ (aircraft) and parts
do
Missiles, space vehicle systems, engines, propulsion units and parts
mil $
Other related operations (conversions, modifications) products services
mil $
Aircraft (civilian): Shipments©
Airframe weight©
Exports
22, 181
14, 571
20,099
17,016
12, 535
27,223
16,351
24,219
20, 227
14,530
5,788
3,011
5,171
5,006
3,560
9,087
5,621
8,366
5,099
3,734
5, 908
3,819
5,449
5, 455
3,921
4,960
3,423
4,343
5,149
3,679
20,383
13, 695
8,885
2,502
27,547
15,711
14, 655
3,824
22, 938
13, 809
10, 939
3, 022
26,868
15,736
13,887
3,750
27 547
15,711
14,655
3,824
27, 361
15,459
14,488
3,856
5,481
4,510
4,538
4,778
4,510
4,448
2 363
2,492
135.0
3,593
42.9
141.2
3,016
53.3
261.8
5,134
78.7
224.9
4,329
62.3
262.0
4,984
55.2
2,492
1,855
2,360
2, 527
2, 087. 0
43,983
553.7
169.8
3,747
54.4
148.6
3,106
31.3
161.7
3,372
44.6
149.4
3,448
29.2
148.4
3,040
66.6
159.3
3,384
23.5
198.2
4,019
53.7
thous. . 1. 057. 4 0, 329. 5
do
10. 716. 6 9, 943. 5
_ .do _. 9, 305. 6 8, 598. 3
do
9, 100. 7 8,336.9
.do
1. 751. 8 1, 731. 2
do
1. 615. 9 1, 606. 6
985.9
959.2
818.6
802.5
167.3
156.7
625.3
605.6
488.4
480.0
136.9
125.6
211.9
196.3
143.8
136.4
68.1
59.9
747.2
709.9
621.8
592.4
125.5
117.5
985. 3
936.9
835.3
797.7
150.0
139.3
980.7
928.5
832.6
791.2
148.1
137.2
923.6
878.1
775.1
740, 5
148.5
137. 6
797.3
758.1
651.2
625.0
146.1
133.1
660.2
628.0
525.6
501.9
134.6
126.2
833.4
785.0
684.1
647.4
149.3
137.6
792.1
749.4
659.8
628.3
132.3
121.1
898.3
848.7
750.3
713.4
148.0
135.3
1, 592. 0
do
thous. lb._ 32, 200
473.0
mil $
MOTOR VEHICLES
Factory sales, total
Domestic
..
Passenger cars, total
Domestic
Trucks and buses, total
Domestic
..
_
Exports:
Passenger cars (new) assembled
Passenger cars (used)
Trucks and buses (new) assembled
Trucks and buses (used)
Truck and bus bodies for assembly*
Imports:
Passenger cars (new), complete units
Passenger cars (used)
Trucks and buses, complete units
Shipments, truck trailers:
Vans
Trailer bodies, chassis, sold separately
Registrations:©
New passenger cars
Foreign cars
_
New commercial cars (trucks)
911.7
865.2
765.3
732. 3
146.4
133.0
do
do
do
do
do
3105. 03
i 10. 42
1 3 59. 67
'5.77
i 7.29
177. 58
12.72
78.64
6.79
10.70
7.49
1.12
7.27
.70
1.07
5.70
.97
7.83
.57
.84
4.61
1.15
6.41
.51
.52
19.18
.83
5.24
.59
.74
27.64
.90
6.35
.49
1.00
28.31
.81
5.98
.55
1.01
30.31
.91
7.23
.42
.70
21.96
.89
7.08
.46
.88
14.19
.84
6.57
.51
1.09
31.41
.96
7.54
.53
1.14
26.69
.81
7.75
.57
1.19
25.85
1.33
9.09
.57
1.19
do
do
do
559. 43
8.00
7.60
858. 15
5.75
42.96
80.77
.38
4.06
69.34
.46
4.07
47.53
.20
4.05
77.38
.51
2.02
73.38
.58
3.26
78.69
.30
3.91
108. 55
.22
10.43
102. 30
.21
6.70
79.52
.33
5.49
88.46
.31
7.28
66.97
.21
6.06
80.66
.45
7.42
do
do
103, 756
65, 909
14, 653
113,493
75, 527
18, 402
10, 690
6,928
1,719
7,763
5,206
1,591
8,835
6,232
1,793
9,790
6,600
1,406
9,603
6,468
975
8,794
5,961
1,454
8,376
5,602
1,222
8,084
5,274
1,827
8, 322
5,253
1,658
10, 111
6,309
2,377
7,990
4,829
3,431
8,752
5,317
2,898
9,008. 5
5 658. 1
1,610. 4
752.5
52.6
137.4
832.7
59.0
151.0
743.6
58.1
141.6
573.8
64.4
121.9
766.7
64.7
128.0
732.1
51.7
120.1
808.2
56.3
136.8
616.1
46.4
113.2
538.9
45.2
108.9
670.8
57.5
132.2
786.1
63.3
144.6
« 807. 4
"70.0
" 139. 0
&793. 5
*>66. 7
6 139. 5
77, 896
53, 392
24,504
90, 149
67,744
22, 405
7,508
5,307
2, 201
6,799
4,820
1,979
8,385
6,251
2,134
7,446
5,992
1,454
7,797
6,513
1,284
7,368
5,757
1,611
8,044
6,087
1,957
7,217
5,929
1,288
8.101
6,048
2,053
9,156
7,054
2,102
8,311
6,466
1,845
6,344
5,094
1,250
8,458
7,049
1,409
thous
do _
do
9, 313. 9
569.4
1, 528. 9
6
2 489. 6
2390.8
298.Y
RAILROAD EQUIPMENT
Freight cars (ARCI):
Shipments
Equipment manufacturers, total
Railroad shops, domestic
number
do
do
New orders
Equipment manufacturers, total
Railroad shops, domestic-.
do
do
do
88, 288
65, 617
22, 671
'99,997
' 73, 257
26, 740
5,734
4,658
1,076
6,017
4,279
1,738
8,391
5,154
3,237
' 7, 073
' 5, 305
1,768
'5,962
'5,214
748
6,209
4,466
1,743
8,401
2,889
5,512
2,055
1,743
312
3,358
2,908
450
5,028
3,824
1, 204
1,728
1,444
284
4,177
3,252
925
7,799
6,787
1,012
Unfilled orders, end of period
Equipment manufacturers total
Railroad shops domestic
do
do
do
45.266
32. 873
12. 393
56, 618
40, 426
16, 192
60, 378
48, 341
12, 037
59, 874
48,082
11,792
59, 750
46, 861
12. 889
59, 508
46, 407
13, 101
57, 883
45, 328
12, 555
56, 437
43, 781
12, 656
56, 618
40, 426
16, 192
51, 450
38, 943
12, 507
46, 197
35, 293
10, 904
42, 055
32, 049
10, 006
34, 960
26, 515
8,445
32, 493
24, 373
8,120
30, 730
23, 007
7,723
Passenger cars: Shipments
do
Unfilled orders, end of per. --do
201
14
15
83
0
70
6
64
6
59
3
56
0
56
0
83
0
83
0
83
0
83
0
83
0
83
0
83
0
83
* 1, 481
5.3
1,497
4.8
1,487
4.9
1.487
4.9
1,489
5.0
1,489
5.0
1,491
5.0
1,491
4.7
1,497
4,8
1,496
5.0
1,498
5.1
1,498
5.0
1,499
5.1
1,496
r
5.2
1,498
5.2
4
4
91.58
61. 19
89.57
60.23
89.71
60.34
90.03
60.48
90.20
60.59
90.50
60.71
90.71
60.82
91.58
61.19
91.72
61.31
91.99
61.42
92.25
61.60
92.51
61.72
92.60
61.87
92.90
62.04
Freight cars (revenue), class 1 railroads (AAR):§
Number owned, end of period
thous
Held for repairs, % of total owned
Capacity (carrying), aggregate, end of period*
mil. tonsAverage per car
tons,
r
3
4
88. 20
59. 58 1
Revised.
» See note "O" for p. S-21.
2 Preliminary estimate of production.
Beginning Jan. 1965, data exclude exports of incomplete (unassembled) vehicles.
See note " §."
« Annual total includes revisions not distributed by months.
{Monthly revisions for 1963-65 are available upon request.
9 Total includes backlog for nonrelated products and services and basic research.
®Data include military-type planes shipped to foreign governments.
*New series. Monthly data prior to 1965 are available upon request.
° Omits two States.
b
OCourtesy of R. L. Polk & Co.; republication prohibited.
Omits data for one State.
§ Excludes railroad-owned private refrigerator cars and private line oars. Effective Apr.
1966, data include cars owned by three class II roads (over 2,600 cars end of Apr. 1966). Also,
change in definition of class I railroads, as stated in 1965 BUSINESS STATISTICS note, is reflected
in figures beginning Dec. 1965, instead of Jan. 1965.
INDEX TO CURRENT BUSINESS STATISTICS, Pages S1-S40
SECTIONS
General:
Business indicators
Commodity prices
Construction and real estate
Domestic trade
1-7
7,8
9,10
10-12
Employment and population
Finance
Foreign trade of the United States
Transportation and communications
12-16
16-21
21-23
23,24
Industry:
Chemicals and allied products
Electric power and gas
Food and kindred products; tohacco
Leather and products
25
26
26-30
30,31
Lumber and products
Metals and manufactures
Petroleum, coal, and products
Pulp, paper, and paper products
31
32-34
35,36
36,37
Rubber and rubber products
Stone, clay, and glass products
Textile products
Transportation equipment
37
38
38-40
40
INDIVIDUAL SERIES
Advertising.
10,11,16
Aerospace vehicles
40
Agricultural loans
16
Air carrier operations.
23
Aircraft and parts
3, 6,13-15,40
Alcohol, denatured and ethyl
25
Alcoholic beverages
8,10,26
Aluminum
23,33
Apparel
1,3,4,7,8,10-15,40
Asphalt and tar products
35,36
Automobiles, etc
1, 3-8,10,11,13-15,19,22,40
Balance of international payments
2
Banking
16,17
Barley
27
Battery shipments
34
Beef and veal
28
Beverages
4,8,10, 22, 23, 26
Blast furnaces, steel works, etc
5,6,13-15
Bonds, outstanding, issued, prices, sales, yields.... 18-20
Brass and bronze
33
Brick
38
Broker's balances
20
Building and construction materials
5,
6,8,10,31,36,38
Building costs
9,10
Building permits
9
Business incorporations (new), failures
7
Business sales and inventories
4,5
Butter
27
Cans (tinplate)
33
Carloadings
24
Cattle and calves
28
Cement and concrete products
8-10,38
Cereal and bakery products
8
Chain-store sales, firms with 11 or more stores. . .
12
Cheese
27
Chemicals
4-6,8,13-15,19,22, 23, 25
Cigarettes and cigars
8, 30
Civilian employees, Federal
14
Clay products
8,38
Coal
4,8,13-15,22,24,35
Cocoa
23,29
Coffee
23,29
Coke
24,35
Communications
2,13-15,20,24
Confectionery, sales
29
Construction:
Contracts
9
Costs
9,10
Employment hours, earnings, wages
13-16
Fixed investment, structures
1
Highways and roads
9,10
Housing starts
9
New construction put in place
9
Consumer credit
17,18
Consumer expenditures
1
Consumer goods output, index
3,4
Consumer price index
7
Copper
23, 33
Corn
27
Cost of living (see Consumer price index)
7
Cotton, raw and manufactures
7,8,22,38,39
Cottonseed cake and meal and oil
30
Credit, short- and intermediate-term
17,18
Crops
3, 7,27,28,30,38
Crude oil and natural gas
4,13-15,35
Currency in circulation
19
Dairy products
Debits, bank
Debt, U.S. Government
Department stores
Deposits, bank
Disputes, industrial
Distilled spirits
Dividend payments, rates, and yields
Drug stores, sales
3, 7, 8, 27
16
18
11,12,17
16,17,19
16
26
2, 3,18-21
11,12
Earnings, weekly and hourly
14-16
Eating and drinking places
11,12
Eggs and poultry
3,7,29
Electric power
4,8,26
Electrical machinery and equipment
3,
5,6,8,13-15,19,22,34
Employment estimates
12-14
Employment Service activities
16
Expenditures, U.S. Government
18
Explosives
25
Exports (see also individual commodities).. . . 1,2,21-23
Express operations
23
Failures, industrial and commercial
7
Fans and blowers
34
Farm income, marketings, and prices
2,3,7
Farm wages
16
Fats and oils
8,22, 29,30
Federal Government
finance
18
Federal Reserve banks, condition of
16
Federal Reserve member banks
17
Fertilizers
8,25
Fire losses
10
Fish oils and
fish
29
Flooring, hardwood
31
Flour, wheat
28
Food products
1,4-8,10,11,13-15,19,22,23,27-30
Foreclosures, real estate
10
Foreign trade (see also individual commod.)
21-23
Foundry equipment
34
Freight carloadings
24
Freight cars (equipment)
4,40
Fruits and vegetables
7,8,22
Fuel oil
35,36
Fuels
4,7,8, 22, 23, 35,36
Furnaces
34
Furniture
3,4,8,11-15,17
Furs
23
Gas, output, prices, sales, revenues
Gasoline
Glass and products
Glycerin
Gold
Grains and products
Grocery stores
Gross national product
Gross private domestic investment
Gypsum and products
4,8,26
1,35,36
38
25
19
7,8,22,24,27,28
11,12
1
1
8,38
Hardware stores
11
Heating equipment
8,34
Hides and skins
8, 30
Highways and roads. . ..
9,10
Hogs
28
Home electronic equipment
8
Home Loan banks, outstanding advances
10
Home mortgages
10
Hosiery
40
Hotels
14,15, 24
Hours of work per week
14
Housefurnishings
1,4,7,8,10-12
Household appliances and radios
4,8,11, 34
Housing starts and permits
9
Imports (see also individual commodities)
1, 22,23
Income, personal
2,3
Income and employment tax receipts
18
Industrial production indexes:
By industry
3,4
By market grouping
3,4
Installment credit
12, 17,18
Installment sales, department stores
12
Instruments and related products
3,5, 13-15
Insurance, life
18,19
Interest and money rates
17
Inventories, manufacturers' and trade
4—6, 11,12
Inventory-sales ratios
5
Iron and steel
3, 5,6,8,10,13-15,19,22, 23, 32,33
National defense expenditures
1,18
National income and product
1,2
National parks, visits
24
Newsprint
23,37
New York Stock Exchange, selected data
20,21
Nonferrous metals
3,8,19, 22,23,33,34
Noninstallment credit
17,18
Oats
Oil burners
Oils and fats
Orders, new and unfilled, manufactures'
Ordnance
Paint and paint materials
Panama Canal traffic
Paper and products and pulp
8,25
24
3,
5,6,8,13-15,19,23,36,37
Parity ratio
7
Passports issued
24
Payrolls, indexes
14
Personal consumption expenditures
1
Personal income
2, 3
Personal outlays
2
Petroleum and products
4-6,
8,11,13-15,19,22,23,35,36
Pig iron
32
Plant and equipment expenditures
2,20
Plastics and resin materials
25
Population
12
Pork
28
Postal savings
17
Poultry and eggs
3, 7,29
Prices (see also individual commodities)
7,8
Printing and publishing
4,13-15
Profits, corporate
2,19
Public utilities
2-4,7-9,13-15,19-21
Pullman Company
24
Pulp and pulpwood
36
Purchasing power of the dollar
8
Radiators and convectors
34
Radio and television
4,10,11,34
Railroads
2,13,14,16,20,21,24,40
Railways (local) and bus lines
13-15,23
Rayon and acetate
39
Real estate
10,17,18
Receipts, U.S. Government
18
Recreation
7
Refrigerators and home freezers
34
Rent (housing)
7
Retail trade
4, 5,7,11-15,17,18
Rice
27
Roofing and siding, asphalt
36
Rubber and products (incl. plastics)
4-6,
8,13-15,23,37
Saving, personal
Savings deposits
Securities issued
Security markets
Services
Sheep and lambs
Shoes and other footwear
Silver
Soybean cake and meal and oil
Spindle activity, cotton
Steel (raw) and steel manufactures
Steel scrap
Stock prices, earnings, sales, etc
Stone, clay, glass products
Stoves and ranges
Sugar
Sulfur
Sulfuric acid
Superphosphate
2
17
19,20
20,21
1, 7,13-15
28
8,11,12, 31
19
30
39
32,33
32
20,21
3-5,8,13-15,19, 38
34
23,29
25
25
25
Tea imports
29
Telephone, telegraph, cable, and radiotelegraph
carriers
13-15,24
Television and radio
Labor advertising index, disputes, turnover
Labor force
Lamb and mutton
16
12
28
28
Lard.
33
Lead.
Leather and products
3,8,13-15, 30,31
Life insurance
18,19
Linseed oil
30
Livestock
3,7,8,24, 28
Loans, real estate, agricultural, bank, brokers'
(see also Consumer credit)
10,16,17,20
Lubricants
35,36
Lumber and products
3,8,10-15,19,31
34
Machine tools
Machinery
3, 5,6,8,13-15,19, 22,34
Mail order houses, sales
11
Manmade fibers and manufactures
8,39
Manufacturers' sales (or shipments), inventories,
4-6
orders
Manufacturing employment, production workers,
payrolls, hours, earnings
13-15
3,4
Manufacturing production indexes
Margarine
29
Meat animals and meats
3, 7,8,22, 23,28
7
Medical and personal care
Metals
3-6,8,13-15,19,22,23, 32-34
27
M ilk.
Mining and minerals
2-4,8,13-15. 19,20
Monetary statistics
19
19
Money supply
10, 16,17
Mortgage applications, loans, rates
23,24
Motor carriers
Motor vehicles
1,3-8,10,11,13-15,19, 22,40
34
Motors and generators
27
34
8,22,29,30
6
13-15
4,10,11, 34
Textiles and products. . 3, 5,6,8,13-15,19,22, 23,38-40
Tin
23,33
Tires and inner tubes
8,11,12,37
Tobacco and manufactures
4-8,10,13-15,30
Tractors
22, 34
Trade (retail and wholesale)
4, 5,11,12
Transit lines, local
14,15,23
Transportation
1,2,7,13-15,23,24
Transportation equipment
3-6,13-15,19,40
Travel
23,24
Truck trailers
40
Trucks (industrial and other)
34,40
Unemployment and insurance
U.S. Government bonds
U.S. Government
Utilities
12,16
16-18,20
finance
18
2-4,9,13-15,19-21,26
Vacuum cleaners
Variety stores
Vegetable oils
Vegetables and fruits
Veterans' benefits
Wages and salaries
Washers and driers
Water heaters
Waterway traffic
Wheat and wheat
Wholesale price indexes
Wholesale trade
Wood pulp
Wool and wool manufactures
Zinc
34
11,12
30
7,8,22
16,18
flour
2,3,14-16
34
34
24
28
8
4, 5, 7,13-15
36
7, 8,23, 39
33,34
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All Eight Volumes of...
GROWTH PATTERNS
IN EMPLOYMENT
BY COUNTY,
1940-1950 and 1950-1960
These eight volumes deal with employment and changes in employment for the counties and States of the eight major regions of the United States. The change in employment for each county is shown with the amount by which it exceeds or falls short
of the national average separated into industrial mix and regional share components.
The influence of each of 32 industries on these employment changes is statistically
detailed.
Prices:
Volume 1
Volume 2
Volume 3
Volume 4
Volume 5
Volume 6
Volume 7
Volume 8
New England
Mideast
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Plains
Southeast
Southwest
Rocky Mountain
Far West
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