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AUGUST 1974 / VOLUME 54 NUMBER
8
PART I
SURVEY OF CURRENT BUSINESS
THE BUSINESS SITUATION
Revised Second Quarter GNP
1
Inventory-Sales Ratios
2
Productivity and Labor Cost
Collective Bargaining
5
6
Personal Income
7
Trucks and Buses
8
National Income and Product Tables
14
Revised Deflators for New Construction, 1947-73
18
State and Regional Personal Income, 1958-73
28
International Transportation Transactions in the
U.S. Balance of Payments, 1973
44
Alternative Measures of Price Change for
GNP, 1971-74
46
National Income and Product Account Errata
49
9
Revisions to Manufacturers Shipments, Inventories,
and Orders: 1967-73 (Revised)
49
Stocks of Business Inventories in Constant Dollars
50
Gross Domestic Product: Annually and
Quarterly, 1929-73
52
This month's issue of the SURVEY OF CURRENT BUSINESS
appears in two parts. This volume is Part I, Part II, which will be
released at a later date, will contain data on aspects of U.S. international investment.
CURRENT BUSINESS STATISTICS
General
S1-S24
Industry
S24-S40
Subject Index (Inside Back Cover)
U.S. Department of Commerce
Frederick B. Dent / Secretary
Edward D. Failor / Administrator, SESA
Bureau of Economic Analysis
George Jaszi/'Director
Morris R. Goldman/Deputy Director
SURVEY OF CURRENT BUSINESS
Editorial Board: Jack J. Bame, Robert E. Graham,
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Contributors to This Issue: Robert B. Bretzfelder,
Carol S. Carson, John H. Hammond, Mary W.
Hook, Donald A. King, Thomas W. Kraseman,
Shirley F. Loftus, John C. Musgrave, Gordon
P. Smith, and Regional Economic Measurement
Division
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the BUSINESS SITUATION
TmIE
revised second-quarter GNP
figures show that inflation, as measured
by the implicit price deflator, was somewhat higher than estimated initially—
9.6 percent at a seasonally adjusted
annual rate, as compared with 8.8
percent. In the first quarter, the deflator rose at a rate of 12.3 percent.
The second-quarter improvement was
due to a deceleration in the rate of
increase of energy and food prices.
The average of all other GNP prices
continued to increase at about the
first-quarter rate.
In real terms, the revised secondquarter GNP continued to show a
small decline. This decline was due
entirely to a drop in U.S. income from
foreign investment that resulted largely
from an increase in foreign participation
in profits generated by operations of
U.S. oil companies abroad; the estimate of the drop is highly tentative.
Income from foreign investment is
counted as part of U.S. gross national
product, which is defined as production
attributable to labor, capital, and other
factors of production owned by residents
of the United States.
An alternative measure of total
production—gross domestic product
(GDP)—is used as the major measure
of output by many countries, and is
defined as production attributable to
factors of production actually located
in a given country regardless of ownership. GDP equals GNP less product
originating in the rest of the world
as measured by net factor incomes
received from abroad. Real GDP stabilized in the second quarter after a
sharp decline in the first (table 1).
As BEA reiterates, its estimates should
not be read too closely. The increase
in second-quarter GDP shown in the
table is well within the margin of
However, there is an element of strength
in second-quarter profits that is not
shown by these summary figures. Inventory profits, which stem from the
fact that in periods of rising prices business accounting methods generally do
Table 1.—Gross National and Gross Donot charge to the cost of goods sold
mestic Product in Constant
(1958)
amounts sufficient to keep intact the
Dollars
real
volume of inventories, contributed
IPercent change from preceding quarter; seasonally adjusted
at annual rates]
much less to the increase of book profits in the second quarter than they did
Gross domestic
Gross national
product
product
in first quarter. If inventory profits
are excluded, corporate profits rose at
9.5
9.2
1973: I
II
2.2
about an annual rate of $5 billion, as
2.6
1.6
III
J.6
compared
with about $1 billion in the
2.3
2.4
IV
first
quarter,
and similar amounts in
-7.0
-7.9
1974: I
-.8
.3
II
. .
the last three quarters of 1973. Also,
the second-quarter profits increase
Residential construction, which had would have been even larger had it not
accounted for a substantial part of the been for the drop in U.S. corporate
first-quarter decline, changed little in profits originating abroad, to which
the second. However, housing starts reference has just been made. These
and building permits, which are indi- profits appear to have declined at an
cators of future construction activity, annual rate of about $2 billion.
Among domestic industries, profits
continued to decline during the quarter.
(excluding inventory profits) continued
Automobile production, which had ac- to show large increases in nondurables
counted for another large part of the manufacturing, reflecting, to a large
first-quarter decline, was higher; sales extent, profits in petroleum refining.
increased and the rate of inventory Profits in durables manufacturing conreduction declined. Other production tinued to drop, but the drop was much
that had been curtailed by the oil crisis less than in the first quarter, as profits
in the first quarter was generally of automobile producers moved up
stronger in the second. To the extent somewhat after a large decline. Other
that one can judge from the information profits in durables manufacturing declined
that is available, all other nonfarm on balance; there were reductions in
business production, which makes up nonelectrical machinery and transportathe bulk of the total, was a little tion equipment other than autos, and
a large increase in primary metals.
weaker.
Outside manufacturing, transportation
Second"quarter corporate profits
profits increased, apparently because of
Corporate profits before tax, that is, higher charges to customers. Public
before-tax "book" profits, rose about utility profits declined, probably because
$12 billion in the second quarter, as costs moved up faster than companies
compared with $16 billion in the first. could obtain rate increases.
error of the estimates. GDP has been
added to the regular quarterly presentation of GNP and related magnitudes (table 3 on page 14) and historical
GDP series are shown on page 52.
SURVEY OF CURRENT BUSINESS
Federal sector on national income
and product account
With the corporate profits and associated tax estimates for the second
quarter at hand, the Federal sector on
national income and product (NIP)
account has been completed and is
shown in table 2. Receipts increased
about $12 billion in the second quarter
and expenditures about $11 billion. As a
result, the sector was about in balance,
following a small deficit. The major
increases in receipts were in income
taxes and were mainly the result of
inflation. The largest single increase in
expenditures was in transfers. The 7 percent increase in social security benefits
that became effective in April contributed $3.7 billion and higher unemployment insurance payouts, $0.9 billion.
The entry under "wage accruals less
disbursements" records a retroactive
pay raise for Federal employees that
was paid out in the second quarter for
work performed in the fourth quarter
of 1972.
The unified budget—the budget featured in Treasury Department and
Office of Management and Budget publications—showed a surplus of $9.7
billion at a quarterly rate in the second
quarter. There are several differences
between the NIP statement and the
unified budget. Some major differences
are the exclusion of financial transactions and net land purchases from the
NIP statement its recording of business
taxes on an accrual rather than a collection basis, and its recording of purchases generally on a delivery rather
than a cash basis. Most important in
the present context, since the unified
budget is not seasonally adjusted, and
collections of income taxes are seasonally heavy in the second quarter, the
unified budget typically will show a
stronger surplus position in that quarter
than the NIP statement. With respect
to the NIP statement, it should be
noted that the increase in taxes will
probably taper and that expenditures
will continue to rise substantially in the
near term, mainly because of higher
social security and veterans benefits,
and higher Federal pay.
Reconciliation of price and
estimates
wage
Tables 3, 4, and 5 present reconciliations of the implicit price deflator
for personal consumption expenditures
with the consumer price index, and of
compensation per man-hour with average hourly earnings in the private
nonfarm economy. A detailed explanation of these tables can be found on
Table 2.—Federal Government Receipts and Expenditures
[Billions of dollars]
1973
1971
1972
1973
II
III
1974
IV
I
I!?
Seasonally adjusted at annual rates
Federal Government receipts
227.2
258.5
255.0
261.8
268.3
279.4
291.6
89.9
33.4
20.4
54.6
108.2
36.6
20.0
62.5
114.1
43.7
21.2
79.5
110.3
44.7
21.4
78.6
116.7
43.8
21.0
80.2
121.6
43.5
21.3
81.8
124.1
47.2
21.5
86.7
129.4
52.2
21.9
88.1
Federal Government expenditures
220.3
244.7
264.2
262.4
263.4
270.6
281.0
291.6
Purchases of goods and services
National defense
Other
97.6
71.2
26.5
104.9
74.8
30.1
106.6
74.4
32.2
106.2
74.0
32.2
105.3
73.3
32.0
108.4
75.3
33.1
111.5
75.8
35.7
114.3
76.6
37.7
Transfer payments
To persons _
To foreigners (net)
74.9
72.3
2.6
82.8
80.1
2.7
95.5
92.9
2.6
94.7
91.5
3.3
96.5
93.9
2.7
98.8
96.3
2.5
106.5
104.0
2.5
113.6
110.8
2.7
Grants-in-aid to State and local governments
29.0
37.4
40.5
40.1
39.8
41.0
42.9
43.2
Net interest paid.
13.6
13.5
16.3
15.9
16.8
17.6
17.9
18.7
Subsidies less current surplus of government enterprises
5.2
6.6
5.3
Less: Wage accruals less disbursements
0
Personal tax and nontax receipts
Corporate profits tax accruals _
Indirect business tax and nontax accruals
Contributions for social insurance. _
198.5
Surplus or deficit (— ), national income and product
accounts
—
....
-21.9
p
.5
-17.5
0
-5.6
Preliminary.
Source: U.S. Department of Commerce, Bureau of Economic Analysis.
5.4
-.1
-7.4
5.0
4.8
2.2
0
0
0
-.6
-1.7
-2.3
-1.5
0
1.3
August 1974
pages 2 and 3 of the May issue of the
SURVEY, where these tables were first
introduced.
Inventory-sales Ratios
In the July issue of the SURVEY, it
was pointed out that the revision in
the estimates of business inventory
accumulation—up $7.4 billion to $15.4
billion for the year 1973—indicated
that the economy is weaker than was
suggested by the estimates published
previously.
Even prior to the revision, the accumulation of inventories was large in
the fourth quarter of last year—large
enough to warrant the conclusion that
it was unsustainable, whether it reflected an involuntary backup of inventories or a restocking scramble, or a
combination of the two. The revised
figures are even higher for the fourth
quarter and show that substantial
inventory accumulation started earlier
in 1973 than previously supposed, suggesting an overhang of inventories
that could act as a depressant on future
economic activity.
Alternative inventory-sales ratios
This latter point is brought out
clearly in table 6, which focuses not on
rates of inventory accumulation, but
on the ratios of the total stock of business inventories to final sales of business
GNP. Business GNP equals total
GNP less GNP originating in the nonbusiness sectors (households and institutions, rest of the world, and general
government), and final sales of business
GNP equal total business GNP less
that part of business production that
is added to inventories. Thus, these
ratios in a NIP framework resemble
the conventional inventory-sales (I-S)
ratios in a NIP framework resemble
differences between the two. In the first
place, the conventional ratios are usually confined to manufacturing and
trade. The ratios in table 6 cover the
entire business economy, including agriculture, mining, construction, and the
service industries.
Another difference between the two
is that final sales of GNP exclude sales
of raw materials and semifinished products that occur within the business
SURVEY OF CURRENT BUSINESS
August 1974
Table 3.—'Reconciliation of Changes in the
Implicit Price Deflator for Personal Consumption Expenditures and Consumer
Price Index, Seasonally Adjusted, Quarterly, 1974 1-1974 II
1974
1. IMPLICIT PRICE DEFLATOR FOR
PERSONAL CONSUMPTION EXPENDITURES (percent change at
annual rate)
I
II
13 7
11 8
Contribution of shifting weights... -.5
-.2
New cars, domestic
Fuel and ice . .
Gasoline and oil
Other items
3
—.5
-.1
_ 2
— 2
— l
.1
3. Equals: Chain price index for PCE (percent change at annual rate) .._
14.2
12.0
2. Less:
4. Less:
Contribution of difference in
weights of items common to the
implicit price deflator for PCE
andtheCPT
—.4
.5
—.2
-.9
.5
.1
—.4
.5
— 3
-.2
.4
5
—.2
.3
2.3
3.9
Services furnished without payment byfinancialintermediaries . .8
Otheritems
1.5
1.5
2.4
Food away from home
Food at home
Rent...
Automobiles, new
Gasoline
Other items
5. Less:
6. Plus:
o
Contribution of non-CPI items
used to deflate PCE
Contribution of CPI items not
used to deflate PCE
Homeownership costs
Automobiles, used.
Other items
7. Equals: CONSUMER PRICE INDEX
(percent change at annual rate)..
0
3.8
1.4
-.9
—.5
1.5
2.2
1
12.3
11.4
system. The sales that are used in the
calculation of the conventional I-S
ratios include these duplicated sales.
Whether it is the former or the latter
denominator that is preferable is a
moot point.
A further important difference between the NIP and conventional ratios
is that on a NIP basis inventory
stocks—like inventory changes—are
valued uniformly at replacement cost.
The numerator in the conventional I-S
ratios represents book values; these
depend on the particular accounting
method employed and in general differ
from replacement cost.
In periods of relative price stability,
the conventional ratios are useful tools
of economic analysis. However, in a
period of rapid inflation such as we are
experiencing, they are misleadingly
low. This is so because the inventory
stocks in the numerator are valued in
prices of earlier periods, while sales in
the denominator are valued in prices of
the current period. The impact of the
difference in valuation is largest in the
case of inventories subject to last-in
first-out accounting, because the
balance-sheet inventories reflect prices
beginning in the period when last-in
first-out accounting was originally
adopted and in the subsequent periods
when physical increments to inventories were made. But even inventories
subject to first-in first-out accounting
are undervalued relative to sales because the balance-sheet inventories
reflect the prices of the current and
immediately preceding periods, the
number of preceding periods depending
on the inventory turnover. Rough BEA
estimates indicate that book values
understate the increase in the value of
manufacturing and trade inventories
since the first quarter of 1973 by
about $20 to $25 billion, and result in
an understatement of the increase in
the I-S ratio for manufacturing and
trade by 0.12 to 0.15 points.
The final important difference between the two ratios is that the NIP
ratios in table 6 are expressed in constant (1958) dollars, that is, they
represent physical relationships that are
not influenced by relative price
changes. This overcomes the severe
disability that afflicts the conventional
I-S ratios in periods of rapid inflation.
But even in less inflationary periods
than the present one, such physical
ratios reveal more about the inventory
situation than do the conventional
ratios.
Statistical sources of inventory revisions
The revised figures show that the
constant-dollar NIP ratio is almost as
high as at any time in the last 20 years.
The 0.022 point increase in the ratio
since the first quarter of 1973 is more
than twice the increase in the unrevised
figures.
The upward revisions are traceable in
part to farm inventories, which are now
estimated to be much higher, because of
recent revisions made by the Department of Agriculture in its estimates of
farm production and income. These
revisions were discussed in the July
SURVEY. However, the bulk of the
upward revisions is in nonfarm inventories, that is, inventories held
mainly in manufacturing and trade and,
less importantly, in other nonfarm
industries. These upward revisions are
due to the substitution of final monthly
data prepared by the Census Bureau for
manufacturing and trade for the preliminary data that were available when
the initial estimates were made, and
also to the incorporation of annual
Census data that were not available at
that time. Also, in the course of
preparing the new estimates, examination of the relationship between the
monthly and annual Census series
revealed a small but persistent downward bias in the former. The estimates
in the table include an adjustment for
Table 5.—Reconciliation of Changes in
Compensation Per Man-Hour and Average
Hourly Earnings, Private Nonfarm Economy, Seasonally Adjusted, Quarterly,
1974 1-1974 II
19 74
I
II
1. COMPENSATION PER MAN-HOUR,
ALL PERSONS (percent change at annual rate)
- -- .
8.4
10.6
2 Less:
Contribution of supplements
1.2
.1
3. Less:
Contribution of employees of private households and government
enterprises and se f-employed
and unpaid family workers
.4
.2
4. Equals: Wages and salaries per man-hour,
all employees except private
household and government enterprise (percent change at annual rate)
6.8
10.3
1.2
2.1
.2
.4
.4
.5
2.4
1.6
.2
-.5
6. Equals: Average hourly earnings, production and nonsupervisory workers,
obtained from seasonally adjusted industry components
(percent change at annual rate) . . 5.6
8.2
5. Less:
Table 4.—Weights of Items Common to the
Implicit Price Deflator for Personal Consumption Expenditures and the Consumer Price Index
CPI component
CPI
PCE*
Food away from home
Food at home.
Rent
. ..
4 54
17 89
5 50
2 11
13 10
15 47
Automobiles, new..
Gasoline
Other items
3.18
3.05
41 20
5 56
2.65
50 76
Total as percent of CPI or PCE
75.36
89.65
* Weights for the first quarter of 1974.
Contribution of supervisory and
nonproduction workers, non
BLS data, and detailed weighting total
Commodity-producing
tries
Manufacturing
Distributive industries
Service industries
7. Less:
indus-
Contribution of seasonal adjustments by industry
8. Equals: AVERAGE HOURLY EARNINGS, PRODUCTION AND
NONSUPERVISORY WORKERS (percent change at annual
.9
-1.0
4.8
9.2
SUEVEY OF CUEKENT BUSINESS
August 1974
this bias for the period for which strategic importance of business in- even the new estimates are subject to
final annual data are not yet available. ventories, BE A believes that a major further revisions.
More important, it should be emHowever, this bias adjustment accounts effort should, nevertheless, be made to
phasized that little is known about
for only 0.003 of the 0.022 point rise collect better data.
inventory behavior. Certainly, the noin the I-S ratio since the first quarter of
Interpretation of the high NIP ratios
tion that "what goes up must come
1973.
As mentioned earlier, the high NIP down again" cannot safely be applied
The inventory estimates are among
the least reliable components of the ratios of inventories to sales suggest an to I-S ratios. This cautionary note is
GNP for many reasons, the common inventory overhang that may depress illustrated by the 1966 experience when,
denominator of which is the difficulty future economic activity. However, a because I-S ratios reached very high
and cost of collecting from business great deal of caution should be exercised levels, many forecasters, applying the
respondents the data required to pre- in drawing more definite conclusions. simple maxim, predicted a long and
pare solid estimates. In view of the This caution is required first because severe downward adjustment in economic activity. An inventory adjustTable 6.—Stocks of Business Inventories, Final Sales of Business GNP, and the Stocks- ment did occur in early 1967, but it was
Final Sales Ratio, 1947-74
brief, and was soon followed by a
renewed rise in economic activity.
Billions of 1958 dollars, seasonally
Billions of 1958 dollars, seasonally
Actually, the ratio did not come down
adjusted at annual rates
adjusted at annual rates
for several years. When it did, it was
Stocks of
Stocks-final
Stocks-final
Final sales
Stocks of
Final sales
for very different reasons than had
business l of business
sales ratio
sales ratio
business 1 of business
inventories
GNP
inventories
GNP
been envisaged.1 Needless to say, no
simple lesson can be derived from this
132.4
426.4
1961: I
0.343
0.311
92.1
1947: I
268.3
II. . .
132.9
431.2
.338
272.2
II
91.9
.308
experience. The difficulty of forecasting
.332
437.4
133.8
Ill
III
91.4
274.9
.306
IV
135.2
IV
.333
444.8
.304
276.2
91.9
inventory behavior is compounded by
.335
136.9
1962: I
277.0
.304
92.8
450.6
1948: I
the fact that allowance must be made
II
II
.334
138.3
280.8
93.9
.301
458.9
.339
139.6
95.4
III
281.8
.300
III
464.7
for
differences in fiscal, monetary, and
IV
141.2
285.6
.338
IV ...
96.5
.302
468.2
other
macroeconomic policies.
96.4
285.6
.338
1963: I
142.3
1949: I
.301
472.6
143.5
289.1
II. ..
II.
.328
94.8
.301
477.0
Further
progress in the interpretaIll
.326
145.0
94.2
289.2
III ...
.300
484.0
IV
290.4
IV
147.0
.319
92.5
.300
489.3
tion of the inventory situation requires
93.4
297.1
148.2
1950: I
.314
1964: I
.296
500.6
examination by industry and stage of
II
II
149. 7
94.9
303.0
.296
.313
505.8
III
96.4
315.1
III
150.9
514.1
.294
.306
fabrication. Unhappily, such informaIV ...
308.4
IV 100.8
.327
152.8
513.7
.297
tion is available only in terms of the
1951: I . ..
103.5
317.1
.326
.296
1965: I
524.2
155.3
II
107.5
II
316.7
.339
533.6
.295
157.4
conventional measures whose shortIII
110.4
327.4
III....
.337
544. 6
159.6
.293
IV .
111.7
333.1
IV
.335
161.9
557.2
.291
comings in present circumstances have
1952: I . .
113.2
334.2
.339
164.6
1966* I
567.4
.290
just
been discussed. BE A is starting
II
112.6
II
340.5
567.2
.331
168.4
.297
Ill
113.6
337.5
III-...""
.337
171.2
575. 1
.298
to
prepare
detailed industry informaIV .
IV
115.0
347. 5
.331
175. 8
.306
574.4
tion
that
is
free from these flaws. In
1953: I
356. 9
115.8
.325
.306
1967: I
178.1
581.8
II
II
116. 7
360.3
.324
179.1
590. 7
.303
the
meantime,
the only comprehensive
Ill
117.0
360.3
III
.325
.306
181.2
592. 2
IV
116.0
361.5
IV
.321
183.5
595.4
.308
information available to BEA is the
1954: I
115.3
354.5
.301
.324
184.2
1968: I
611.3
estimates of stocks of business inII
114.4
354.4
II
186.4
.303
615.9
.323
III
113.7
358.2
III—.
.301
624. 5
.317
188.1
ventories
by broad industry group
IV
114.0
362.4
IV
.302
.315
190.0
62-. 6
and
by
durability
that underlie the
1955: I
115.2
371.0
1969: I
191. 4
.301
.311
635.8
II.
116.9
376.7
.310
II
193.2
63S.4
.303
calculations
in
table
6 and that can be
Ill
118.5
382.8
.306
.310
III
195. 5
638.8
IV .
120.4
.312
385.3
IV........
.308
196.7
638.7
found on page 50 of this issue of the
1956: I
121.9
383.9
1970- I
.318
197.1
.309
637.6
SURVEY.
II
II
123.1
387.3
.311
.318
198.2
636.7
Ill
124.1
386.3
.321
.311
III
641.0
199.5
These estimates are too aggregative
IV
125.2
IV
391.6
.317
.320
200.6
633.5
to
permit conclusive analysis. However,
1957: I
125.7
396.6
.317
.312
1971* I
202.2
648.7
II
126.3
395.6
.319
203.9
652.2
II
.313
a
few
points may be noted. First, the
Ill
HI
127.1
396.8
.320
.309
661.8
204.8
IV
iv
126.4
396.1
.319
.307
670.8
205.9
recent increases in the NIP ratios
1958: I
125.0
388.4
.302
.322
684.1
1972' I
206.9
reflect to some extent farm inventories
II
II
123.8
388.8
.318
.299
208.6
697.7
Ill
123.9
394.4
.314
.298
III
210.7
706.3
that are high in relation to farm producIV
124.9
401.2
.311
IV
.295
212.9
721.5
tion and marketing. However, these
1959: I
125.9
408.8
.308
1973* I
.290
740.0
214.8
II
II
128. 1
414.8
.309
.291
744.0
216.7
inventories
are confined to inventories
Ill
128. 2
418.0
.307
746.4
III
.293
218.7
IV
129.8
417.0
.311
IV
739.2
.303
223. 7
that are owned by farmers and privately
1960: I
132.2
423.3
.312
1974* I
226.4
.310
730.3
financed. Inventories of farm products
II
HP
133.1
427.5
.311
228.4
733.2
.312
Ill
IV
1. End of quarter.
133.9
133.2
425.9
427.6
.314
.312
1. See "Inventory-Sales Ratios in Manufacturing and
Trade, 1961-72," SURVEY OF CURRENT BUSINESS, February
1973.
August 1974
that are owned by the Commodity
Credit Corporation or on which CCC
has made loans to farmers are generally
excluded and instead counted in Government purchases of goods and services. Such stocks are low. The stocks
of farm products held by nonfarm
business are also judged to be lower
than in past years. A more comprehensive accounting of farm inventories
that includes these other components
indicates low inventories in relation
to farm production and sales.
Second, the contribution of auto
inventories to the recent rise in the
NIP ratio is of interest because auto
production, sales, and inventories are
very often strategic determinants of
economic fluctuations. Retail stocks of
autos, although they have risen sharply,
did not contribute disproportionately to
the rise in the ratio since the first
quarter of 1973. Of course, changes in
auto retail sales may have influenced
inventory holding in other industries,
for example, suppliers of auto manufacturers, but this cannot be traced given
the information that is available.
Changes in the nonfarm ratios excluding autos ideally should be separated into (a) genuine changes in the
I-S ratios of the component industries
and (b) mix effects, that is, changes due
to shifts in the relative importance of
the industries. Because of gaps in the
information, such an analysis cannot be
conducted reliably even for the broad
durables and nondurables manufacturing, durables and nondurables wholesale
and retail trade, and "all other" categories shown in the estimates of business
inventory stocks. However, fragmentary evidence suggests that the bulk of
the increase in the NIP ratios since the
first quarter of 1973 was due to genuine
changes in manufacturing and retail
trade. In both industry groups, the
durables ratios moved up sharply, and
in retail trade, the nondurables ratios
moved up as well.
SUEVEY OF CURRENT BUSINESS
cent at an annual rate, the net result of
a 2.0 percent drop in output and a 0.4
percent increase in man-hours (table 7).
Though large, that decline was appreciably less than the 5.2 percent in the
first quarter, when the drop in output
was much larger. However, the firstquarter decline in productivity was
accentuated because a large part of the
output decline was concentrated in
motor vehicle and related industries
where output per man-hour is high.
The rise in compensation per manhour in the private nonfarm economy
accelerated to a seasonally adjusted
annual rate of 11.0 percent in the second
quarter. The increase chiefly reflected
higher wage rates, which offset declines
in overtime hours at premium rates of
pay and a reduction of employment
in some of the high-wage industries. The
increase in hourly compensation was
the largest since the Korean War,
except for the first quarter of last year,
when compensation was boosted nearly
3% percentage points by a large increase in employer contributions for
social insurance. The first-quarter rise
this year amounted to 8.4 percent, of
which about 1.2 percentage points
represented a further increase in employer social security contributions.
The rise in compensation, though
steep, fell short of the rise in prices, and
Table 7.- -Productivity and Labor Cost in the Private Nonfarm Economy
[Percent change, seasonally adjusted annual rate]
Output
The decline in productivity in the
private nonfarm economy that began in
the second quarter of last year continued through the second quarter of this
year. Output per man-hour fell 2.5 per-
Man-hours
Output
per man-hour
Compensation
per man-hour
Unit labor
cost
Eeal
compensation
per man-hour
Half-years:
1968:
1969:
1st
2d
7.4
3.1
2.8
2.0
44
1.2
8.1
8.1
3.4
6.9
3.4
3.1
1st
2.8
—.4
4.1
.8
-1.2
—1 1
6.3
7.6
7.6
8.8
.3
1.8
—1.2
—.8
—2 4
—3.1
12
2.4
7.1
6.4
5.9
4.2
.7
1.4
1st
2d
7.3
5.1
.9
1.5
63
3.5
7.8
5.6
1.4
2.1
3.8
2.4
1st
83
7.9
41
24
42
54
74
6.8
3.2
1.4
4.1
3.1
9.4
2.5
2.5
1.1
4.0
4.8
2.6
1.9
5.2
-2.2
—.7
11.7
5.4
6.6
8.9
6.2
7.8
6.6
9.7
5.5
-3.2
-2.4
-.8
-7.5
-2.0
-2.4
.4
-5.2
-2.5
8.4
10.6
14.4
13.4
-2.7
-1.7
2d
1970:
1971:
1972:
1st
2d
..
2d.
Productivity and Labor Cost
real hourly compensation declined 1.7
percent in the second quarter. That
was the fifth consecutive quarterly decline in real compensation; the average
decline over this period has been at an
annual rate of 2.2 percent.
The combination of rising hourly
compensation and declining productivity has resulted in very large increases in unit labor costs. These costs
increased at an annual rate of 13.4
percent in the second quarter and 14.4
percent in the first—nearly double the
rise in the same quarters a year ago.
Hourly compensation is almost certain to continue its rapid rise in the
second half of the year. The decline in
workers' real compensation during the
past year foreshadows heavy union
pressure for large cash wage settlements.
In addition, the size of cost-of-living
wage increases resulting from a given
increase in prices is likely to be larger
this year than last, as a result of
liberalized formulas for calculating payments, removal of ceilings on the
amount of payments, and an increase
in the number of workers covered by
escalator clauses. The prospects are
that the economy will be sluggish and,
therefore, that productivity will offer
little offset to rising hourly compensation. Accordingly, the rise in unit costs
can also be expected to continue.
Quarters:
1973:
1974:
I.. .
II
Ill .
IV
I
II_
1. Less than 0.05 percent.
(i)
Source: Bureau of Labor Statistics.
SUEVEY OF CUKEENT BUSINESS
6
Collective Bargaining
Wage rate increases negotiated under
major collective-bargaining agreements
moved sharply higher in the second
quarter. The impact of inflation on
workers' incomes and the expiration
of wage and price controls combined
to produce an emphasis on large and
immediate wage increases and on costof-living escalator clauses. Less importance was attached to deferred
wage increases and improvements in
fringe benefits.
First-year wage increases in major
contract settlements (those involving
1,000 or more workers) averaged 9.2
percent in the second quarter, a sharp
increase from the 6.2 percent gain
recorded in the first quarter and the 5.8
percent average for all of 1973. The
second-quarter increase was the largest
since wage and price controls were
instituted in 1971, but it is well below
the increases negotiated in the year
and a half before controls.
The unions' emphasis on providing
immediate improvement in wages resulted in an increase in front loading—
that is, providing for a disproportionate
share of the total negotiated wage increase to take place in the first year of
the contract. The amount of front
loading is customarily measured by
taking the difference between the firstyear increase and the average annual
increase over the life of the contract.
In the second quarter of 1974, this
difference was 1.8 percentage points,
compared with 0.9 point in the first
quarter and 0.7 point in 1973. There
was very little front loading during the
controls period, because the ceilings set
on single-year increases acted to minimize the difference between first-year
raises and those of later years.
The data on front loading reported
above understate its actual amount,
because the average annual increase
over the life of the contract includes
data for 1-year contracts. In these
contracts, the first-year increase is also
the life-of-contract average, and thus
there is no front loading. The Bureau
of Labor Statistics (BLS) now publishes
data by duration of contract. In the
first 6 months of 1974 (the only period
for which the data are available), front
Table 8.—First Year Wage Decisions in
Contracts With Escalator Clauses
Number
of
workers
affected
(thousands)
First
year
increase
(percent)
Combined
first-year
and
escalator
increases
(percent)
1973- 1
II
III
IV
43
790
310
897
5.9
6.3
5.5
5.2
76
68
9.6
10.7
4
4
4
3
1974: 1
II
258
825
6.4
9.2
8.9
10.6
2
1
Number
of
quarters
of
escalation
NOTE.—The full impact of the escalator adjustments on
first year increases cannot be calculated until a complete year
has passed, since most contracts call for recomputing the increase once a quarter.
Source: Bureau of Labor Statistics.
loading in 3-year contracts amounted to
2.8 percentage points, substantially
more than the 1.7 percentage points for
all contracts averaged together.
Cost-of-living escalation
Cost-of-living escalator clauses were
introduced in 51 major contract settlements covering 347,000 workers in the
first half of 1974—the first important
increase in coverage since 1971. These
settlements were mostly in retail trade,
urban transit, and apparel manufacturing. About 4.5 million workers in major
bargaining units were covered by costof-living escalator clauses in major
contracts at midyear.
BLS has published a new tabulation
of contract settlements containing costof-living escalator clauses. This tabulation gives the negotiated increases
in the first year of the contract and the
combined first-year plus cos t-of-living
increase for as much of the first contract
year as has elapsed (Table 8). Since
most contracts with escalator clauses
call for recalculating the cost-of-living
increase once each quarter, the full
impact of escalator clauses on first-year
increases can only be measured when
the first year is completed.
In the second quarter of this year,
first-year negotiated wage increases in
contracts with escalator clauses averaged 9.2 percent. Further increases
granted during the second quarter,
under escalator clauses, brought the
average gain to 10.6 percent. That was
a very large escalator increase for a
first quarter of a new ^contract year and
mainly reflected the unusual timing of
the escalator adjustment in the new
August 1974
steel contract. The spread between the
negotiated increase and the "combined"
increase will continue to widen as increases in the consumer price index
trigger additional escalator clause increases. Settlements reached in the
third quarter of last year are the latest
with a complete year of cost-of-living
wage increases. In that quarter's settlements, first-year negotiated increases in
contracts with escalator clauses averaged 5.5 percent, while combined
first-year and escalator increases averaged 9.6 percent.
Fringe benefits
Because of the unions' desire to
concentrate on improving paychecks,
less emphasis was placed on improving
fringe benefits. The BLS does not
provide any direct measure of changes
in the value of fringe benefits; however,
an estimate of their trend can be obtained by comparing the average size
of wage and benefit increases with
average wage increases. A larger percentage increase in wages plus benefits
than in wages alone usually indicates
a percentage increase in benefits larger
than the percentage increase in wages.1
In the second quarter, wages and benefits taken together rose less than wages
alone for the first time since the BLS
started collecting the data in 1968.
Strikes
Time lost as a result of strikes in the
second quarter totaled 17.2 million
man-days, or 0.34 percent of total
working time—about double the seccond-quarter average in the past 3
years, and close to the highest second
quarter level in the past 20 years.
Counting only major strikes—those
involving 5,000 or more workers—
construction accounted for 14 percent
of total time lost in the second quarter,
against 7 percent of a much smaller
total last year. Other major strikes
during the quarter occurred at a
leading chemical firm, lasting the entire
quarter, at a large manufacturer of
household appliances, lasting almost
the whole quarter, and in the men's
clothing industry, where 110,000 mem1. This is not, however, necessarily the case, since the data
on wage plus benefit increases are reported only for contracts
covering 5,000 or more workers, while the data for wage
increases alone are for contracts covering 1,000 or more
workers. Thus, part of the difference between the two measures could be attributable to difference between the size of
the wage increases in large and in small contracts.
SUEVEY OF CURRENT BUSINESS
August 1974
CHART 1
Changes in Real Disposable Personal
Income and Personal Consumption
Expenditures
Billions of 1958 $
30
1970
1971
1972
1973
1974
Quarterly, Seasonally Adjusted
At Annual Rates
U.S. Department of Commerce, Bureau of Economic Analysis
bers of the Amalgamated Clothing
Workers' Union were on strike for
10 days in June—their first strike in
53 years. These three strikes together
accounted for about 8 percent of total
working time lost in strikes during
the quarter.
further depressed by an increase in the
In the second quarter, wages and
social security tax base. (Personal in- salaries rebounded, increasing at an
come is measured net of all personal annual rate of 10.0 percent. In manucontributions for social insurance.) In facturing, they rose as a result of higher
the second quarter, income increased average hourly wage rates; employat an 8.2 percent rate. The following ment and average weekly hours were
discussion will focus on the components essentially unchanged. The increase in
of personal income that in the first half wages and salaries in private industries
of 1974 had the greatest impact on other than manufacturing also acchanges in income.
celerated. Gains in hourly wage rates
Wages and salaries—the largest com- in these industries were augmented by
ponent of income—expanded strongly increased employment in trade and
throughout 1973, increasing 10.7 per- services; employment and hours were
cent from the fourth quarter of 1972 to about unchanged in the remaining
the fourth quarter of 1973. In the first private industries. The higher wage
quarter of 1974, they rose at an annual rates resulted from newly negotiated
rate of only 6.0 percent. The slowdown increases and from cost-of-living inin large part reflected the impact of the creases that were triggered by the sharp
oil embargo. The weakening in auto- advance in the consumer price index.
mobile sales, which had become ap- In addition, changes in the Federal
parent in the late summer, turned into Minimum Wage Law raised the minia sharp decline. The subsequent cut- mum wage rate and extended coverage
backs in automobile production led to to additional groups of workers. In the
substantial reductions in employment second quarter, average hourly earnings
and in average weekly hours. Oil- of production workers increased at a
related employment declines also 9.8 percent annual rate.
occurred in the metals industries and in
Although farm income accounts for
retail trade, but these declines were only a small proportion of total personal
more than offset by increases in wage income, it was a major factor in personal
rates. Average hourly earnings of pro- income growth in 1973. From the fourth
duction workers in the private nonf arm quarter of 1972 to the fourth quarter
economy (after adjusting for overtime of 1973, farm income increased by 87
in manufacturing and interindustry percent—$21 billion—and accounted
employment shifts) increased at a 6.0 for nearly 20 percent of income growth.
percent annual rate in the first quarter. In the first and second quarters farm
Personal Income
The behavior of real personal consumption expenditures will be an important influence on the strength of the
economy during the second half of this
year. The major determinant of these
expenditures is real disposable personal
income. As can be seen in chart 1, the
correspondence between changes in the
two magnitudes is usually quite close.
It is thus of interest to examine recent
changes in income and the factors that
will influence it over the coming months.
Recent changes in income
Table 9.—Personal Income and Its Disposition, 1971 IV-1974 II
Percent change
Percent
distribution 1973
Personal income
Wage and salary disbursements
Manufacturing industries
Other private industries
Government
.
Farm proprietors' income
Transfer payments
-
- - ...
All other sources of income *
Less: Personal contributions for social insurance
In the first quarter of 1974, the
increase in current-dollar personal income dropped to a seasonally adjusted
annual rate of 4.9 percent, compared
with 11.6 percent during 1973 (table 8).
Most sources of income shared in the
deceleration. In addition, income was
1973 IV to
19741
1971 IV to
1972 IV
1972 IV to
1973 IV
1974 I to
1974 II
Seasonally adjusted
annual rate
100.0
11.2
11.6
4.9
8.2
65.6
18.6
33.0
13.9
10.4
12.6
9.5
9.9
10.7
11.4
11.1
9.0
6.0
.4
9.0
6.8
10.0
10.8
10.4
8.3
3.6
31.9
87.1
-42.5
-69.3
11.2
16.3
8.8
21.5
25.9
23.7
4.1
9.6
12.8
9.5
24.4
8.6
30.3
Less : Personal tax and nontax payments
14.3
18.5
8.8
5.1
Equals: Disposable personal income
85.7
10.0
12.1
4.8
Addenda:
Personal consumption expenditures deflator
3.0
7.9
Disposable personal income, 1958 dollars
6.8
3.8
13.6
-7.7
1. Includes other labor income, business and professional income, rental income, interest income, and dividends.
12.0
7.0
16.5
6.9
11.8
-4.4
8
income dropped precipitously, as production expenses increased and the
volume of marketings declined. In the
second quarter, a drop in prices received
by farmers, particularly for livestock,
exacerbated the decline.
Transfer payments increased substantially in the first and second
quarters. In the first, the increase in
unemployment led to higher unemployment insurance payments. In addition,
cost-of-living adjustments resulted in
increases in veterans' and Federal civil
service pensions and in food stamp
payments. In the second quarter,
further increases in unemployment insurance payments and a 7 percent
increase in social security benefits
($3.9 billion at an annual rate) led to
an even larger gain.
All other sources of income, taken
together, slowed in the first quarter
and recovered in the second. The
fluctuation was entirely attributable to
personal interest income. Other labor
income—fringe benefits—and dividends
continued to expand strongly.
Disposable income—personal income
less tax and nontax payments—increased at a rate of only 4.8 percent
in the first quarter and 6.5 percent in the
second, down sharply from the 12.1
percent gain during 1973. Moreover,
real disposable income, measured in
1958 dollars, dropped in both quarters.
The implicit deflator for personal consumption expenditures (the measure
used to convert current-dollar disposable income to a constant-dollar basis)
rose at an annual rate of 13.6 percent
in the first quarter and 11.0 percent in
the second.
SUEVEY OF CUEEENT BUSINESS
first half of the year have established a
pattern of substantial increases (see
above). In addition, there will be wage
rate increases in the industries where
contracts include cost-of-living escalator
clauses. (The most common formula
used in calculating cost-of-living increases provides a 1 cent an hour increase for each 0.3 point rise in the
consumer price index; in general the
adjustments are made once each
quarter.)
The outlook for farm income is
uncertain. An extended period of very
hot dry weather in the Midwest has
caused the Agriculture Department to
make successive downward revisions
in its estimates of crop harvests. Total
crop production, which had been expected to be a record, is now estimated
at 7 percent below last year. Since the
carryover of crop inventories from last
year was exceptionally low, pressures
on prices are expected to be severe.
The shortfall in crop production is
concentrated in feed grains—particularly corn. The current forecast for
livestock is for larger supplies and lower
prices this fall; it is not expected that
the higher prices for feed grains will
lead to higher livestock prices until
next year. On balance, cash receipts
for crops and livestock combined should
improve substantially in the second
half of the year. Production expenses
are expected to continue to rise, but
not enough to absorb the increase in
receipts. Thus, farmers' realized net
income should show a small gain in
the third and fourth quarters.
There will be sizable increases in
transfer payments. An increase of
nearly 4 percent in social security
Factors influencing future income benefits ($2.1 billion at an annual rate)
changes
was paid out on July 1, and cost-ofliving
escalator clauses will bring about
The Administration forecasts small
increases
in the food stamp program
gains in real output and a rise in unand
in
civil service and military
employment to somewhere between 5%
retirement
plans. In addition, there will
and 6 percent in the second half of this
be
a
step-up
in unemployment insuryear. Although such an outcome would
ance
payments
to the extent that there
have an adverse impact on man-hours,
is
an
increase
in
unemployment.
wages and salaries should increase at a
The remaining components of perfairly rapid pace, mainly because of
sonal
income should, in the aggregate,
increases in wage rates. Three factors
expand
at about their recent rate. High
make large wage rate increases probable.
The collective-bargaining schedule is book profits will probably result in
heavy, and contracts negotiated in the increased dividend payments, and the
August 1974
record level of interest rates should add
to interest income. New settlements
under large collective bargaining agreements point to some deceleration in the
rate of increase in other labor income,
but it will not be substantial.
In summary, many forces will help
bolster income in the near term. At the
same time, the Administration's forecast is for an inflation rate of 7 to 8
percent by the end of 1974. If this
reduction in the inflation rate is
achieved, real disposable income should
show a small increase.
Trucks and Buses
Sales of trucks and buses rose nearly
70 percent from the first quarter of
1971 to the third quarter of last year to
a record seasonally adjusted annual rate
of 3 million units. Sales fell about 18
percent in the next two quarters and
stabilized in the second quarter at an
annual rate of nearly 2.5 million units.
The 1971-73 expansion, which was the
strongest since the reconversion period
following World War II, reflected both
the boom in producers' expenditures for
durable equipment and individuals' expenditures for recreational vehicles and
"utility" vehicles as substitutes for
second cars. The subsequent decline
was mainly an outgrowth of the oil
crisis and centered in trucks that are
to an important extent personal-use
vehicles.
Although both businesses and consumers share in the truck and bus
market, all private outlays, which
amounted to roughly $15 billion in 1973,
are treated as expenditures for producers' durable equipment in the national income and product accounts.
Evidence has become available in recent
years—mainly from the Census
Bureau's Truck Inventory and Use
Surveys—indicating that perhaps from
one-fifth to one-fourth of dollar outlays
should be treated as personal consumption expenditures for durable goods. In
light of this evidence, BEA plans to
change its treatment of truck and bus
expenditures in the next benchmark
revision of the accounts.
Chart 2 shows factory sales of trucks
and buses by gross vehicle weight.
Only sales of units manufactured in
August 1974
U.S. plants and shipped to U.S. markets
are included; units produced in Canada
or other foreign countries and sold in
the United States—a small part of the
total supply of new trucks—are excluded.1 The bus sales included in the
data are also a small part of the total;
these units accounted for only a little
more than 1 percent of sales in 1973.
Light-duty trucks, which account for
about 85 percent of total truck and bus
sales, are both business and personaluse vehicles and were responsible for
most of the decline in unit sales from
the third quarter of last year to the first
quarter of this year. Although sales
data do not permit a distinction to be
made between personal and business use,
there are several reasons for believing
that sales for personal use represent an
important and growing part of the
light-duty truck market. First, the
Census Bureau's Truck Inventory and
Use Survey (which covers the private
stock of both new and old trucks)
showed personal transportation as the
major use for 53.4 percent of light-duty
trucks in 1972, as compared with 44.8
percent in 1967 and 34.7 percent in 1963.
Second, the substantial increase in the
percentage of light-duty trucks shipped
with factory-equipped optional extras
that used to be found only on passenger
cars suggests that these trucks have
become an important factor in the
"second" car market (table 10). Third,
sales for personal use have been bolstered for several years by the boom in
demand for small recreational vehicles
and for recreational equipment designed to be attached to or pulled by
light-duty trucks.
1. Imports averaged less than 6 percent of domestic sales in
the 5 years ending in 1970 and virtually all of those were from
Canada. The import share rose to 8 percent in 1971 and to
9.3 in 1972, as Japanese imports made significant inroads in
U.S. markets, particularly in the market for light-duty
trucks. Last year, however, imports accounted for only 5 percent of sales as those from Japan dropped precipitously. The
decline in Japanese imports mainly reflects the fact that price
increases for Japanese trucks have been much larger than for
others. The price increases were a result of two dollar devaluations and inflation in Japan that has been more severe than
in the United States.
555-443 O - 74 - 2
SURVEY OF CURRENT BUSINESS
9
CHART 2
The decline in sales of light-duty
trucks that began in the third quarter
U.S. Factory Shipments of Trucks
of last year apparently centered in
and
Buses to U.S. Markets
personal-use vehicles and, as in the
by Gross Vehicle Weight
case of automobiles, was mainly the
result of the oil crisis. (For a discussion Thousands of units (Ratio scale)
of the decline in auto sales, see the i ,ooor
May issue of the SURVEY.) It does not
seem likely that sales of trucks to 600
Total
businesses were curtailed in any significant way by the oil crisis, because 400
higher gasoline prices represent only a
Light-duty
small part of the total cost of truck use
and because for most businesses, there 200
are few short-run alternatives to truck
transportation.
The oil crisis was also important in
the decline in sales of medium-duty 100
trucks. This group accounts for only a
small part of the truck market, but
60
the sales decline was particularly steep
(chart 2). That drop was concentrated
40
in sales of large motorized recreational
vehicles, which have dominated sales
in this weight class since the late 1960's.
20
Sales of heavy-duty trucks rose very
sharply in the early phases of the
capital goods expansion and remained
10
at a high level from late 1972 to late
1973. The sales boom for this group
peaked earlier than that for light-duty
trucks, apparently because capacity
limitations and shortages of parts
were holding back both production and
1964
66
68
70
72
74
sales. Sales of heavy-duty trucks, which
(Seasonally Adjusted)
are cyclically sensitive, declined a little
Data: Motor Vehicle Manufacturers
in both the first and second quarters of
Association of the U.S., Inc.; seasonal
this year.
adjustment by the Bureau of Economic
Analysis.
Table 10.—Selected Optional Equipment
Factory-Installed in Light-Duty Trucks,
by Model Year
[Percent of Trucks]
Model
year
1971
1972
1973 .- .
19741
Powersteering
Airconditioning
Tinted
glass
AM
radio
37.5
53.2
61.4
69.4
14.2
20.0
28.6
33.8
27.0
33.1
37.9
41.8
50.6
55.2
59.3
66.5
1. Through December 31, 1973.
Source: Ward's Automotive Reports.
AM/FM
radio
1.1
2.1
3.5
5.9
U.S. Department of Commerce, Bureau of Economic Analysis
NOTE.—Truck and bus shipments are classified by gross vehicle weight as follows: lightduty—less than 10,000 pounds; mediumduty—10,000 to 19,500 pounds: heavy-duty—
over 19,500 pounds. Gross vehicle weight
(G.V.W.) is a manufacturer's rating that
includes cargo weight, the weight of the truck
chassis, an£ the weight of the body mounted
on the chassis. (However, for a truck designed
to pull a trailer—i.e., a truck tractor—the
G.V.W. is the weight of the tractor and does
not include the weight of the trailer carrying
feargo).
10
SUKVEY OF CUEEENT BUSINESS
August 1974
I
CHART 3
Revised estimates show GNP up $28.5 billion in second quarter; real GNP down .8 percent
In July: Employment and unemployment showed little change; average weekly hours increased
Wholesale prices jumped as the increases in industrials were augmented by a turnaround in farm prices
THE LABOR MARKET
TOTAL PRODUCTION
PRICES
Billion $
Million Persons
Percent
1,500
96
16
CIVILIAN LABOR FORCE AND EMPLOYMENT*
1,400
-
92
1,300
-
88
1,200
-
84
IMPLICIT PRICE DEFLATOR FOR GNP
(Change From Previous Quarter) * *
12
Labor Force
-c
Employment
1,100
80
Monthly (July)
BEA
Quarterly
Quarterly (II)
BLS
Percent
Percent
Billion $
80
CURRENT DOLLAR GNP
(Change From Previous Quarter) *'
CHAIN PRICE INDEX FOR GNP
(Change From Previous Quarter)
UNEMPLOYMENT RATE *
60
Totai
Final Sales
\
/
8
40
-
20
Married Men
M I I 1 I I I 1 1 I
Monthly (July)
Quarterly (II)
Billion $
Million Persons
1,050
85
CONSTANT DOLLAR (1958) GNP**
BEA
Quarterly
BLS
Billions
170
1967=100
180
NONFARM ESTABLISHMENTS
950
160
80
Employment
(left scale)
850
75
750
70
650 I
I
I
I
I
I
I
I
150
Man-Hours * *
(right scale)
140
130
65
Quarterly (II)
BLS
Monthly (July)
BEA
Percent
Hours
30
44.0
Dollars
4.50
PRODUCTION OR NONSUPERVISORY
WORKERS (PRIVATE)*
CONSTANT DOLLAR (1958) GNP
(Change From Previous Quarter)*
20
4.25
42.0
Total
\/
10
40.0
Average
V--"*'
Weekly Hours
(left scale) /
38.0
f
-10
1972
1973
36.0
1974
BEA
Quarterly (II)
* Seasonally Adjusted
** Seasonally Adjusted at Annual Rates
U.S. Department of Commerce, Bureau of Economic Analysis
Farm Products
Processed Foods
and Feeds
Average Hourly Earnings
(right scale)
Final Sales
1972
1973
Monthly (July)
1974
BLS
JY
/
Tntfl,
-
4.00
140
3.75
120 -
3.50
100
1972
1973
Monthly (July)
1974
BLS
August 1974
•
•
SUEVEY OF CUEEENT BUSINESS
In July: Personal income rose $14.4 billion, the sharpest increase this year
Retail sales (advance report) rose 4 percent ; new car sales improved
•
Housing starts fell 16 percent
INCOME OF PERSONS
CONSUMPTION AND SAYING
Billion $
.
S
1,100
900
S^
S
S'
—
1,000
I,II,|,,,
_
Personal Consumption
Expenditures
./
(left scale) v
^—<T
^^^^^
800
-
||, | || ||1 1I
M
700
, ,i,,i
_xCf
Billion $
10
75
-
- 300
*~~^\
200
W.tftt
,,.r ••*•'•*"'
30
i i i i 1 1 1 1 i i i 100
-
- ^^^
i
I
I
Quarterly (II)
i
8
6
AA
>
Billion $
3.2
/
2,650
i
l
l
1972
t
i
l
1973
Quarterly (II)
* Seasonally Adjusted
1
1
"
-
.8
1
0
1974
BEA
I
I
I
I
BEA
~
/•-***
New Orders
S**f'" /*
\
/"V/
^S*
f...1
^s
-
~~
-
AiL/^*^^
r~'*/^
\
\u^/^
2
8
0
6
*^£""*i~'
.*
Trade Sources & BEA
Shipments
Monthly (July)
Census
3.0
_
PRIVATE HOUSING**
NET CHANGE IN INSTALLMENT
CREDIT OUTSTANDING*
_
2.5
" ,AA/"
\A/
1111111111
1972
* * Seasonally Adjusted at Annual Rates
U.S. Department of Commerce, Bureau of Economic Analysis
10
/\1 l\j
A A
\
1.6
I
Billion $
-
A
S
V
^^
I
Million Units
V
/
I
Quarterly (IV)
12
I1 111 11 1111 111 11111111
i 111 i11 11 11
3,050
2,850
I
Census
V'N'I
-
Dollars
f
I
80
° Expected
CAPITAL GOODS MANUFACTURERS*
(NONDEFENSE)
Monthly (July)
2.4
'
Imports I
(right scale) \
BEA
\v
/I
,
Domestic
(left scale)
-
-*v ^
REAL PER CAPITA DISPOSABLE
PERSONAL INCOME**
- (In 1958 Dollars)
^s
..— •»
14
10
./
~
/
Million Units
AT* ^r
I
,"*'"""
100
A /
/ i
-
l
BEA
110
NEW CAR SALES**
^^
^^
l
PLANT AND EQUIPMENT-EXPENDITURES **
Monthly (July)
12
i
Quarterly (II)
i iii,iiiiii iiiiiiiiiii
DISPOSABLE PERSONAL INCOME**
-
Nonresidential Structures**
l
i l l
l
90
20
14
-/
i
BEA
,-..-"-""""'
BEA
Million Units
2,750
25
Total ,
>v^/—<^
40
Billion $
I
2
-
1,100
I
l
Excluding Automotive Group
Monthly (July)
I
l
-
Manufacturing
I
i
><rr
120
^^^
900
i
50
Billion $
^>
^^^
V^^
,,
i
6
60
50
700
500
_
RETAIL STORE SALES*
Total
(left scale)
2,950
_
- Producers' Durable Equipment **
\
— — —•**"
\ ^~"~ "
Billion $
WAGES AND SALARIES**
700
100
Residential Structures* *
Quarterly (II)
900
800
14
-
BEA
Billion $
1,000
_
^-•- \ \
Personal Saving Rate
(right scale)
i i i
i
600
Monthly (July)
600
125
/
./
S^~^
800
PERSONAL CONSUMPTION EXPENDITURES**
AND PERSONAL SAVING RATE*
Billion $
18
1,000
PERSONAL INCOME**
800
FIXED INVESTMENT
Percent
Billion $
1,200
900
11
v yi
W^
if
11111111111111111111111
1973
Monthly (June)
1974
"""'*. •**
FRB
**•
^\
2.0
V\\ i
1.5
Permits \ \J j^A
KX \
1.0
1 M
I 1 1 1 1 1 1 I
1972
v
starts
/^M/\
1 1 1 1 1 1 1 1 1 1 1
1973
Monthly (July)
1 1 1 1 l*f*l 1 1 i 1
1974
Census
.2
SUKVEY OF CURRENT BUSINESS
August 1974
• In June: Book value of manufacturing and trade inventories rose $3.9 billion; ratio to sales also increased
• In second quarter: Balance of payments position deteriorated on both official reserve and net liquidity bases
•
Federal receipts increased more than expenditures and the budget (NIA basis) wasin balance
INVENTORIES
FOREIGN TRANSACTIONS
Billion $
Billion $
30
30
20
250
NET EXPORTS i
CHANGE IN BUSINESS
INVENTORIES**
- (GNP Basis)
-
GOVERNMENT
Billion $
GOVERNMENT PURCHASES OF
GOODS AND SERVICES*'
Ir*
-
20
~
200
-
.iiiHI
10
0
10
Goods and Services
1
\»
\
i i
_ > f /S\
Merchandise
\
1 1 I
~~*£^?A
-10
\
\
i
Quarterly (II)
f
»••*
\s/
__
^^
^^/^
-
-
160
i i i ii 1 i » i ii
1 1 1 1 1 1 1 1 1 1 1
Monthly (June)
Imports
\
6
—^s^yy
, ,i ,,i,,,,i
4
2
300
/
•••***""**•'»** _^s ^*\
-
Exports
i ,, ,,,
i M111'i111
200
-
l
150
Billion $
50
Trade^•••***x*
.„•***
^
BALANCE OF PAYMENTS*
^
80
i 1 1 i 1 1 i 1 1 >i
i i i i i1 i i i ii
Monthly (June)
i
-16
Ratio
0
i
i
-25
i
i
i
i
i
Quarterly (I)
_
i ft
8
-vJLTV""—"^....1 i—i .•—•».„/
i^—-. /
•^N^,
" *"**+~~^
*•! »—V^X
»•
f
Trade
i 1 1 i1 1 i11 ii
1972
1
1 1
1
1
1
1
I I I
1973
i i i i i 1i i i i i
1974
Monthly (June
Census & BEA
* Seasonally Adjusted ** Seasonally Adjusted at Annual Rates
U.S. Department of Commerce, Bureau of Economic Analysis
-16
e
•PI '
^_—„
•
BEA
4
DEFENSE PRODUCTS MANUFACTURERS *
_
_
3
Net Liquidity
Balance
i
1972
i
i
_
_
New Orders
j
%
^*"^sT
$/ ^—
•^^v^
-8
—
Billion $
«*»
IB*. .
„• «••*•••„. .^.fc..^
I
BEA
Quarterly (II)
Official Reserve
Transactions Balance
Total Manufacturing
and Trade
Manufacturing
\
I
1
BALANCE OF PAYMENTS *
INVENTORY/SALES RATIOS *
2.2
I
-50
Billion $
_
1
-
BEA
16
2.6
1.0
i
Census & BEA
25
^
^•^"^. *%
Current Account and
Long-Term Capital
-8
60
1.4
—
Current Account
\
i
FEDERAL BUDGET POSITION**
(NIA Basis)
-
0
i
t
Quarterly (II)
16
^—-—"1
i
Census
Billion $
=Manufacturing
7
Receipts
--^—•-^^^"^
140
100
^*?
V" "zp-^****^
<x
Monthly (June)
8
BEA
-
V
250
Billion $
120
i i i
-
Expenditures
sh /
Census & BEA
MANUFACTURING AND TRADE
/
INVENTORIES*
S
- (Book Value, End of Month) .^
i
i
FEDERAL BUDGET **
(NIA Basis)
x/
/
To al
200
i
i
Billion $
350
-
8
i
Quarterly (II)
MERCHANDISE TRADE*
/
J
INVENTORIES*
p (Book Value, End of Month)
i
50
BEA
10
/
Federal Total
\
Defense ^
Billion $
Billion $
180
150
i nn
BEA
240
220
A
0
-10
Quarterly (II)
^^
-
^**~~
—•-^
State and Local
mm*
•v.
«^%
2
\j
1973
Quarterly (II)
\
/. :**
*
11*+/\H:v
Mr X: '%*--f^
\ T¥^H.
-
i i i
i A
!
NS.
i i i
1
0
1974
Shipmer ts
1 1 1 1 1 1 1 1 1 1 i i 1 1 1 i ,.
1972
BEA
1973
iii11i
1974
Monthly (July)
Census
August 1974
SURVEY OF CURRENT BUSINESS
In July: Bank credit continued to expanc1 strongly; money supply growth slowed
Interest rates reached new highs> and stock market prices declined
In second quarter: Corporate prof its before tax (including IVA) rose $4.9 billion
•
•
•
PROFITS AND COSTS
MONEY, CREDIT, AND SECURITIES MARKETS
INDUSTRIAL PRODUCTION
= 100
1967
Bill on $
Billion $
160
720
380
INDUSTRIAL PFEDUCTION*
Total
340
300
Money Supply
(right scale)
Monthly (July)
400
i i 11 11 11111
i t i i i 1 i i i ii
FRB
it i 1 11 1 1 11i
Monthly (July)
1967 = 100
Bill on $
160
6
220
50
i
"'"'i^i
~ri\
V
\
\
100
1 11 i i 1 1 i i ii 1 1 1 1 1 1 1 1 1 1i
,.-..••
"'**'**•%.
V
Monthly (July)
125
35
100
30
75
~
Cash Row After
Perc ent
100
16
S**S
**s^
Net Free Reserves
(left scale)
\
-
Profits After Tax
\ >"
I
1
1
I
i
l
Quarterly (II)
l
BEA
24
COMPENSATION AND REAL OUTPUT PER MAN-HOUR
PRIVATE ECONOMY
16 - (Change From Previous Quarter) **
90-Day
Commercial Paper
Manufacturing
r~~~—^
I
P«rc ent
12
90
50
-T
FRB
INTEREST RATES AND BOND YIELD
RATIO OUTPUT TO CAPACITY*
S
s
Monthly (July)
Percent
BEA
Billior1$
40
. lTf,T>'M i i 1 i i i\ i I i i i n 25
FRB
t
150
\j
-2
i
CORPORATE CASH FLOW AND PROFITS**
Total Reserves*
(rig tit scale)
0
l
Quarterly (II)
Billic n $
2
...../1'\
Nonfinancial
Corporations
l l
i l l
FRB
4
80
75 -
BANK RESERVES
140
Steel
260
45
INDUSTRIAL PIEDUCTION*
\/
100
^...—
480
1 1 1 1 t 1 11 ,.i i> 11 i11 i 11i
120
125
Total
\
560
Durable
Manufactures
Autos
150
Bank Credit
(left scale)
" • • "
^^.*<*"~
120
80
$
CORPORATE PROFITS AND IVA, BEFORE TAXES**
640
^....^
100
Billion
BANK CREDIT A ND MONEY SUPPLY*
Nondtjrable
Manuf;ictures x^
140
80
13
Corporate Aaa (Moody's)
v\
/"
/X -r\ J*<s
Compensation
=
=
x
8
8 _| Output
|
=
|
•*'*•**
••"3?
4
70
i
60
i
i
i
t
i
i
Quarterly (II)
i
i
0
i ii i i 1 , i i t i
\ 3-Month
Treasury Bills
0
i i i > i i i i i i < i , i ,, i i |i ii
llfll 1 i = i. ij|
^1
-8
I
Quarterly (II)
Monthly (July)
FRB
Billic n $
1941 -43=10
P«rc •nt
52
140
24
DURABLE GOODS MANUFACTURE*{ S *
44
STOCK PRICES
UNIT LABOR COSTS PRIVATE ECONOMY
(Change From Previous Quarter) **
120
New Orders
s'\
16
f^ '
36
8
100
Standards and Poor's 500
Shipments
i 11iiiii1 1 i ii iii ii i iii
60
20
1972
1973
Monthly (July)
1972
1974
Census
* Seasonally Adjusted "Seasonally Adjusted at Annual Rates
U.S. Department of Commerce, Bureau of Economic Analysis
VA,
A
80
28
BLS
1973
Monthly (July)
1974
0
i .ml.!
-8
1972
1973
Quarterly (II)
1974 BLS
SURVEY OF CURRENT BUSINESS
14
August 1974
NATIONAL INCOME AND PRODUCT TABLES
1973
1972
1973
I
II
1974
III
IV
1973
I
II
1972
1973
I
II
Seasonally adjusted at annual rates
1974
rv
III
I
II
Seasonally adjusted at annual rates
Billions of current dollars
Billions of 1958 dollars
Table 1.— Gross National Product in Current and Constant Dollars (1.1, 1.2)
1, 158. 0 1,294.9 1,248.9 1,277.9 1,308.9 1,344.0 1,358.8 1,387.3
Gross national product
Personal consumption expenditures
Durable goods
Nondurable 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
792.5
839.2
832.8
837.4
840.8
845.7
830.5
828.8
729.0
805.2
781.7
799.0
816.3
823.9
840.6
869.1
527.3
552.1
552.9
553.7
555.4
546.3
539.7
542.7
118.4
299.7
310.9
130.3
338.0
336.9
132.4
323.3
325.9
132.1
332.7
334.2
132.4
343.8
340.1
124.3
352.1
347.4
123.9
364.4
352.4
129.5
375.8
363.8
104.9
220.2
202.2
113.6
228.6
209.9
117.2
228.7
207.1
115.7
228.3
209.7
114.3
230.0
211.2
107.2
227.4
211.7
105.2
223.9
210.6
106.?
223. e
212.2
179.3
209.4
199.0
205.1
209.0
224.5
210.5
211.8
125.0
138.1
134.4
136.3
135.8
145.8
133.3
130. a
170.8
194.0
189.0
194.4
197.1
195.5
193.6
198.3
118.0
127.3
127.1
128.4
127.7
125.8
122.7
122.2
116.8
41.1
75.7
54.0
53.4
.6
136.8
47.0
89.8
57.2
56.7
.5
130.5
44.6
85.9
58.5
58.0
.5
135.6
46.2
89.4
58.7
58.4
.4
139.0
47.9
91.1
58.1
57.6
.5
141.9
49.3
92.6
53.6
53.0
.6
145.2
51.3
93.9
48.4
47.8
.7
149.4
52.2
97.2
48.8
48.0
.8
83.7
23.8
59.8
34.3
33.9
.4
94.4
25.4
69.0
32.9
32.6
.3
92.2
24.7
67.4
35.0
34.7
.3
94.3
25.1
69.2
34.1
33.9
.2
95.1
25.6
69.5
32.6
32.4
.3
96.0
26.0
70.0
29.8
29.5
.4
96.3
26.7
69.7
26.4
26.0
.4
96. £
26. C
69. c
25.7
25.2
.4
8.5
7.8
.7
15.4
11.4
4.0
10.0
6.5
3.5
10.7
7.7
3.0
11.8
7.4
4.4
28.9
24.0
4.9
16.9
13.1
3.8
13.5
10.4
3.1
7.0
6.4
.7
10.8
8.9
1.8
7.3
5.4
1.9
7.8
6.3
1.5
8.0
6.2
1.9
20.0
17.9
2.1
10.6
8.7
1.8
8.2
6.4
1.8
-3.0
3.9
-.8
.5
6.7
9.3
11.3
2.0
4.6
1.4
3.5
5.8
7.9
11.5
9.1
72.4
78.4
100.4
96.4
88.8
89.5
95.4
94.9
103.7
96.9
113.6
104.3
131.2
119.9
141.0
139.0
55.7
58.7
66.6
62.0
64.8
63.4
65.9
62.4
66.9
61.1
68.9
61.0
73.3
61.8
74. £
64. f
255.7
276.4
269.0
273.3
276.9
286.4
296.3
304.4
143.1
144.4
144.1
143.9
143.7
145.7
104.9
74.8
30.1
150.8
106.6
74.4
32.2
169.8
106.4
75.0
31.4
162.6
106.2
74.0
32.2
167.1
105.3
73.3
32.0
171.6
108.4
75.3
33.1
177.9
111.5
75.8
35.7
184.8
114.3
76.6
37.7
190.1
61.0
57.3
58.9
57.7
56.2
56.4
56.3
56. C
82.1
87.0
85.2
86.2
87.5
89.3
89.7
89. i
-6.0
146.0
145.8
Table 2.— Gross National Product by Major Type of Product in Current and Constant Dollars (1.3, 1.5)
Gross national product
..
Finalsales
Change in business inventories
Goods output
1,158.0 1,294.9 1,248.9 1,277.9 1,308.9 1,344.0 1,358.8 1,387.3
792.5
839.2
832.8
837.4
840.8
845.7
830.5
828.8
1, 149. 5 1, 279. 6 1, 238. 9 1, 267. 2 1, 297. 0 1, 315. 1 1, 341. 9 1, 373. 8
8.5
16.9
15.4
10.0
10.7
11.8
28.9
13.5
785.4
7.0
828.4
10.8
825.5
7.3
829.6
7.8
832.7
8.0
825.7
20.0
819.9
10.6
820. e
8.2
664.9
425.5
459.1
455.1
457.6
458.8
465.1
449.1
448. S
448.3
10.8
447.8
7.3
449.8
7.8
450.8
8.0
445.1
20.0
438.5
10.6
440. 8
8.2
543.8
622.7
595.8
611.6
629.9
653.6
651.9
Final sales
Change in business inventories
535.2
8.5
607.3
15.4
585.8
10.0
600.9
10.7
618.0
11.8
624.7
28.9
635.0
16.9
651.3
13.5
418.5
7.0
Durable goods
Final sales
Change in business inventories
221.4
214.3
7.1
250.3
240.9
9.4
244.0
237.8
6.1
248.9
241.2
7.7
252.8
243.9
9.0
255.4
240.6
14.8
251.0
242.3
8.7
246.6
248.5
—1.8
185.8
180.1
5.7
206.0
198.5
7.5
204.6
199.5
5.1
206.7
200.5
6.2
206.3
199.0
7.2
206.3
194.9
11.5
200.2
194.3
5.8
195.4
196. (
-1.2
Nondurable goods
Finalsales
Change in business inventories. _
322.4
321.0
1.4
372.4
366.5
6.0
351.8
347.9
3.9
362.7
359.7
3.0
377.1
374.2
2.9
398.2
384.1
14.1
401.0
392.8
8.2
418.2
402.9
15.4
239.7
238.4
1.3
253.1
249.9
3.3
250.4
248.3
2.2
250.8
249.3
1.6
258.7
250.2
8.5
248.9
244.2
4.7
488.1
534.4
516.0
528.3
540.2
553.2
569.7
582.8
291.4
304.5
299.9
303.5
252.6
251.7
.8
306.9
307.8
310.7
253. (
244.2
9.4
310. C
126.1
137.8
137.1
138.0
138.8
137.2
137.1
139.7
75.5
77.8
76.3
75.1
72.8
70.7
69.8
837.4
840.8
845.7
830.5
828.8
782.8
767.0
764.8
Services
Structures
_. .
75.6
Table 3. — Gross National Product by Sector in Current and Constant Dollars (1.7, 1.8)
Gross national product
»rivate
Business
Nonfarm.
Farm.
Households and institutions
Rest of the world.
jreneral government
Federal
State and local
Addendum: Gross domestic product
1,158.0 1,294.9 1,248.9 1,277.9 1,308.9 1,344.0 1,358.8 1,387.3
1,021.6 1,146.5 1, 104. 6 1, 131. 1 1,159.5 1,190.7 1,202.5 1,228.5
977.9 1, 096. 8 1, 056. 7 1, 082. 4 1, 109. 2 1, 138. 8 1, 143. 1 1, 168. 8
942.6 1, 040. 3 1,008.8 1, 029. 0 1,049.0 1, 074. 5 1, 082. 6 1, 117. 8
60.5
60.2
64.4
35.3
56.5
47.9
53.4
51.1
792.5
839.2
832.8
776.9
771.2
775.3
778.4
709.4
683.4
26.0
753.1
725.8
27.4
747.3
719.2
28.1
751.8
724.3
27.5
754.4
728.6
25.8
759.2
731.0
28.2
740.9
713.9
27.0
741.4
712.7
28.7
18.8
5.1
18.7
5.0
19.1
7.0
18.8
4.7
731.7
43.0
8.9
44.6
14.7
46.5
13.2
17.6
4.7
18.5
5.2
18.1
5.8
18.5
5.0
153.4
156.3
158.8
60.7
62.3
61.6
62.1
62.4
62.9
63.5
63. <
54.3
99.1
54.8
101.5
55.0
103.9
21.8
38.9
21.3
41.0
21.5
40.1
21.3
40.8
21.1
41.3
21.1
41.7
21.1
42.3
21.1
42.8
1,151.5 1,286.5 1,240.5 1,269.9 1,300.6 1,335.2 1,344.0 1,374.1
787.7
833.9
827.0
832.4
835.7
840.7
823.5
824.1
37.2
6.5
136.4
50.7
85.7
41.3
8.4
39.5
8.4
148.5
144.3
52.8
95.7
52.5
91.8
40.7
8.0
146.8
62.1
94.7
42.0
8.3
149.4
52.4
97.1
HISTORICAL STATISTICS
THE national income and product data for 1929-63 are in The National Income and Product Accounts of the United States, 1929-1965,
Statistical Tables (available at $1 from Commerce Department District Office or the Superintendent of Documents ; see addresses inside front
cover). Each July SURVEY contains preliminary data for the latest 2 years and fully revised data for the preceding 2. The July 1974 issue has
data for 1970-73. Prior July issues have fully revised data as follows: 1969-70, July 1973; 1968-69, July 1972; 1967-68, July 1971; 1966-67,
July 1970; 1965-66, July 1969; 1964-65, July 1968. BE A will provide on request a reprint of the fully revised data for the years 1964-69.
SUEVEY OF CURRENT BUSINESS
August 1974
1973
1972
1973
I
1974
IV
III
II
15
I
1973
II*
1972
1973
Seasonally adjusted at annual rates
110.8
107.4
110.5
111.5
113.9
115.8
118.6
Equals: Net national product.. 1,055.1 1,184.1 1,141.5 1,167.4 1,197.4 1,230.1 1, 243. 0 1,268.8
Less: Indirect business tax and
110.0
nontax liability
Business transfer pay4.6
ments.
Statistical discrepancy . . -3.8
Plus: Subsidies less current
surplus of government
enterprises
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
2.3
119.2
116.5
118.6
IV
I
II*
Table 6.—^National Income by Type of Income (1.10)
National income
1,158.0 1,294.9 1,248.9 1,277.9 1,308.9 1,344.0 1,358.8 1,387.3
102.9
III
Billions of dollars
Table 4.—-Relation of Gross National Product, National Income,
and Personal Income (1.9)
Less: Capital consumption
allowances
II
Seasonally adjusted at annual rates
Billions of dollars
Gross national product
I
1974
120.4
121.3
122.6
125.9
5.1
-6.3
5.2
—3.1
-2.7
-3.7
4.9
-5.0
4.7
-5.9
4.8
-6.5
4.9
-4.9
5.0
-2.6
.6
1.5
.7
.3
-.1
946.5 1,065.6 1,027.6 1,051.2 1,077.3 1,106.3 1,118.8 1, 137. 1
92.2
105.1
103.9
105.0
105.2
106.4
107.7
112.6
73.0
91.2
88.7
90.2
92.1
93.9
99.1
100.8
.0
-.1
.0
-.3
.0
.0
.0
-.6
98.6
113.0
109.3
111.3
114.1
117.1
123.1
130.6
33.0
27.3
38.3
29.6
35.9
28.7
37.7
29.1
39.3
29.8
40.4
30.7
40.8
31.6
41.9
32.5
4.6
4.9
4.7
4.8
4.9
5.0
5.1
5.2
946.5 1,065.6 1,027.6 1,051.2 1,077.3 1,106.3 1 118 81,137.1
Compensation of employees.
707.1
786.0
759.1
776.7
793.3
814.8
828.8 848.3
Wages and salaries
626.8
691.6
667.6
683.6
698.2
717.0
727.6 744.6
491.4
20.5
114.8
545.1
20.6
126.0
525.0
20.8
121.9
538.7
20.3
124.5
550.8
20.2
127.2
565.8
21.0
130.2
573.8 588.3
21.0 20.9
132.8 135.4
80.3
94.4
91.5
93.1
95.1
97.7
101.2 103.7
38.6
41.7
48.4
46.0
46.9
44.6
47.8
45.4
48.8
46.3
50.1
47.6
52.3
48.9
53.2
50.5
Private
Military
Government civilian..
Supplements to wages and
salaries. .
Employer contributions for
social insurance..
Other labor income _
Proprietors' income..
75.9
96.1
89.1
92.8
99.3
103.2
98.4
89.9
Business and professional
Farm
54.9
21.0
57.6
38.5
57.0
32.1
57.1
35.6
57.7
41.5
58.4
44.9
59.3
39.1
60.7
29.1
Rental income of persons ...
25.9
26.1
26.3
25.7
26.2
26.4
26.4
26.3
Corporate profits and inventory
valuation adjustment . .
92.2
105.1
103.9
105.0
105.2
106.4
107.7 112.6
99.2
122.7
120.4
124.9
122.7
122.7
138.7 150.4
41.5
57.7
27.3
30.3
49.8
72.9
29.6
43.3
48.9
71.5
28.7
42.8
50.9
74.0
29.1
44.9
49.9
72.9
29.8
43.1
49.5
73.2
30.7
42.5
Profits before tax
Profits tax liability
Profits after tax...
Dividends
Undistributed profits
Inventory valuation adjustment _
Net interest
53.6
85 1
31.6
53.5
59.4
91.1
32.5
58.5
-7.0 -17.6 -16.5 -20.0 -17.5 -16.3 -31.0 -37.9
45.6
52.3
49.2
51.1
53.2
55.5
57.5
60.1
944.9 1,055.0 1,013.6 1,039.2 1,068.0 1,099.3 1,112.5 1,134.6
Table T.^National Income by Industry Division (1.11)
Table 5. —'Gross Auto Product in Current and Constant Dollars
(1.15, 1.16)
Billions of current dollars
Gross auto product
J
Personal consumption expenditures ..
Producers' durable equipment
Change in dealers' auto
inventories
Net exports
Exports.
Imports
Addenda:
New cars, domestic 2 _New cars, foreign
43.9
49.9
51.5
50.8
50.3
47.0
33.5
38.6
39.7
43.4
45.4
44.8
45.4
38.0
35.8
38.0
7.0
7.7
8.0
7.9
8.0
6.7
6.3
6.7
-.4
1.1
.4
.8
-.8
4.0
-5.6
-2.9
-2.7
3.0
5.7
-2.7
3.8
6.5
-2.8
3.6
6.4
-3.0
3.6
6.6
-2.8
3.8
6.6
-2.2
4.2
6.4
-3.5
4.1
7.6
-3.6
4.2
7.7
38.1
8.6
43.1
10.0
44.2
10.4
44.6
9.8
43.2
9.7
40.3
10.2
28.1
10.2
34.9
8.3
Billions of 1958 dollars
Gross auto product l
Personal consumption expenditures
Producers' durable equipment...
Change in dealers' auto
inventories
Net exports
Exports
Imports
Addenda:
New cars, domestic 2
New cars, foreign
39.1
44.2
46.3
45.2
43.6
41.6
29.2
32.6
35.3
38.3
40.7
39.7
39.4
33.4
31.3
32.1
6.3
6.8
7.3
7.1
7.0
6.0
5.6
5.7
-.4
1.1
.4
.7
-.7
3.8
-5.1
-2.7
-2.4
2.7
5.1
-2.4
3.4
5.7
-2.5
3.2
5.7
-2.7
3.1
5.8
-2.4
3.4
5.8
-2.0
3.7
5.7
-3.1
3.6
6.6
-3.0
3.6
6.6
34.8
8.0
39.3
9.2
40.9
9.7
40.8
9.0
38. S
8.8
36.7
9.3
25.4
9.3
30.7
7.4
1. The gross auto product total includes government purchases.
2. Differs from the gross auto product total by the markup on both used cars and foreign
cars.
* Second quarter corporate profits (and related components and totals) are preliminary and
subject to revision next month.
All industries, total
Agriculture, forestry, and fisheries
Mining and construction
M anuf acturing
Nondurable goods. _.
Durable goods
Transportation .
Communication
Electric, gas, and sanitary services ._
Wholesale and retail trade.
Finance, insurance, and real estate _
Services
Government and government
enterprises.
Rest of the world
946.5 1,065.6 1,027.6 1,051.2 1,077.3 1,106.3 1,118.8 1,137.1
31.2
59.4
50.6
66.5
43.5
63.5
47.3
65.1
53.7
68.0
57.8
69.3
52.5
70.6
253.4
99.2
154.2
287.2
108.9
178.3
279.0
105.8
173.2
285.3
108.1
177.2
288.8
109.2
179.5
295.8
112.4
183.4
296.8
118.6
178.2
36.6
19.4
40.4
21.1
39.9
20.3
40.1
20.6
40.1
21.7
41.5
21.7
42.2
21.9
17.6
142.3
19.1
155.9
18.4
151.0
18.6
155.1
19.6
156.8
19.7
160.6
18.5
161.3
108.8
120.7
117.8
134.6
114.1
129.9
115.9
133.0
119.1
136.1
122.3
139.2
123.9
143.6
150.7
6.5
164.1
8.4
159.6
8.4
162.1
8.0
165.2
8.3
169.5
8.9
172.7
14.7
Table 8. —Corporate Profits (Before Tax) and Inventory Valuation
Adjustment by Broad Industry Groups (6.12)
107.7 112.6
92.2
105.1
103.9
105.0
105.2
106.4
Financial institutions
17.6
3.4
Federal Reserve Banks
Otherfinancialinstitutions. . 14.3
19.6
4.5
15.1
18.7
3.9
14.9
19.4
4.3
15.0
19.8
4.8
15.0
20.4
5.1
15.3
20.8
5.3
15.5
21.0
5.7
15.4
Nonfinancial corporations
M anuf acturing
Nondurable goods... .
Durable goods
Transportation, communication, and public utilities
All other industries
74.5
40.8
19.0
21.8
85.5
47.6
21.5
26.1
85.2
48.6
20.9
27.6
85.6
48.4
21.5
26.9
85.4
47.1
21.4
25.7
86.0
46.4
22.1
24.3
87.0
46.2
26.9
19.3
91.5
9.2
24.6
9.2
28.7
9.4
27.2
8.8
28.4
9.5
28.8
9.2
30.3
7.1
33.7
All industries, total
SURVEY OF CURRENT BUSINESS
16
1974
1973
1972
1973
I
III
II
August 1974
IV
I
1973
II*
1972
1973
Seasonally adjusted at annual rates
Table 9.—-Gross Corporate Product
Gross corporate product
Capital consumption allowances .._ .
Indirect business taxes plus transfer
payments less subsidies
Income originating in corporate business
.Compensation of employees
Wages and salaries
Supplements
Net interest
(1.14)
71.2
69.2
70.8
71.6
73.1
74.1
75.7
61.7
66.5
65.1
66.1
67.2
67.6
68.3
69.8
520.1 583.1 564.9 577.8 587.8 601.9 605.1 624.6
430.7 482. 5 465. 6 477.0 4S7.1 500.6 507.5 520.2
374.7 416.6 401.4 412.0 420.8 432.4 437.2 448.0
56.0 65.9 63.9 65.1 66.3 68.1 70.3 72.2
2.7
2.7
2.9
IV
I
II
Table 10.—Personal Income and its Disposition (2.1)
66.3
2.8
III
Billions of dollars
648.1 720.8 699.2 714.7 726.7 742.5 747.5 770.1
2.5
II
Seasonally adjusted at annual rates
Billions of dollars
1
I
1974
3.0
3.1
3.2
Corporate profits and inventory
valuation adjustment
86.9 97.8 96.9 98.0 97.9 98.3 94.5 101.2
Profits before tax .
94.0 115.4 113.4 118.0 115.4 114.7 125.5 139.1
Profits tax liability
41.5 49.8 48.9 50.9 49.9 49.5 53.6 59.4
Profits after tax.
52.4 65.6 64.5 67.1 65.5 65.2 71.9 79.7
Dividends
24.2 25.9 24.4 25.2 26.2 27.9 29.9 34.3
Undistributed profits
28.2 39.6 40.1 41.9 39.3 37.3 42.0 45.4
Inventory valuation adjustment... -7.0 -17.6 -16.5 -20.0 -17.5 -16.3 -31.0 -37.9
Cash flow, gross of dividends
118.7 136.8 133.7 137.9 137.2 138.2 146.0 155.5
Cash flow, net of dividends.
94.5 110.8 109.3 112.7 110.9 110.3 116.1 121.1
Personal income
Wage and salary disbursements.
Commodity-producing industries
Manufacturing . .
Distributive industries
Service industries
Government
944. 9 1,055.0 1,013.6 1,039.2 1,068.0 1,099.3 1,112.5 1,134.6
626.8
691.7
667.6
683.8
698.2
717.0
727.6
745.2
225.4
175.8
151.0
115.3
135.0
251.9
196.6
165. 1
128.2
146.6
241.8
188.9
159.7
123.5
142.6
248.5
194.4
163.8
126.6
145.0
254.6
198.3
166.5
129.7
147.4
262.6
204.6
170.4
132.8
151.3
264.0
204.8
172.9
136.9
153.8
270.0
210.1
177.4
140.9
156.9
Other labor income
41.7
46.0
44.6
45.4
46.3
47.6
48.9
50.5
Proprietors' income
Business and professional .
Farm
75.9
54.9
21.0
96.1
57.6
38.5
89.1
57.0
32.1
92.8
57.1
35.6
99.3
57.7
41.5
103.2
58.4
44.9
98.4
59.3
39.1
89.9
60.7
29.1
Rental income of persons
Dividends...
Personal interest income
25.9
27.3
78.6
26.1
29.6
90.6
26.3
28.7
85.1
25.7
29.1
88.8
26.2
29.8
92.5
26.4
30.7
95.9
26.4
31.6
98.2
26.3
32.5
102.0
103.2
117.8
114.1
116.1
119.0
122.1
128.2
135.8
49.6
60.4
58.4
59.9
61.0
62.3
63.6
68.7
5.5
12.7
35.4
13.9
39.3
13.4
38.1
13.5
38.7
14.2
39.6
14.5
40.9
15.0
44.1
6.3
15.2
45.7
39.1
Transfer payments
Old-age survivors, disability, and health insurance benefits
State unemployment insurance benefits
Veterans benefits . .
Other
Gross product originating in
nonfinancialcorporations _. . 614.3 684.3 663.5 678.6 690.0 704.9 709.3 731.1
Less: Personal contributions for social insurance
34.5
42.8
41.8
42.5
43.3
43.8
46.8
47.6
142.4
151.3
144.1
147.2
154.2
159.9
161.9
168.2
802.5
903.7
869.5
892.1
913.9
939.4
950.6
966.5
749.9
829.4
804.2
822.5
840.7
850.1
866.2
894.9
729.0
19.8
805.2
22.9
781.7
21.6
799.0
22.5
816.3
23.4
823.9
24.0
840.6
24.4
869.1
24.8
Gross product originating in
financial institutions
Capital consumption allowances
Indirect business taxes plus transfer
payments less subsidies _
Income originating in nonfinancial
corporations
Compensation of employees
Wages and salaries
_
Supplements
Net interest
33.8
36.5
35.7
36.1
36.7
37.6
38.3
63.6
68.1
66.2
67.8
68.5
69.8
70.7
72.3
58.9
63.4
62.1
63.1
64.1
64.4
65.1
66.5
Less: Personal tax and nontax
payments
491.8 552.8 535.2 547.8 557.5 570.8 573.4 592.3
Equals: Disposable personal
income
404.8 454.1 437.7 449.0 458.5 471.2 477.6 489.5
352.6 392.6 378.0 388.2 396.6 407.6 411.9 422.0
52.2 61.5 59.7 60.8 61.9 63.7 65.7 67.4
17.7
20.5
19.3
20.1
20.9
21.6
22.1
22.6
Corporate profits and inventory
valuation adj ustment
69.3 78.2 78 2 78.6 78.1 77.9 73.8 80.2
Profits before tax
76.3 95.8 94.7 98.6 95.6 94.3 104.8 U8.1
Profits tax liability
33.4 40.7 40.5 42.0 40.5 39.9 43. & 49.2
Profits after tax
43. C 55.0 54.2 56.6 55.0 54.4 61.0 68.9
Dividends
22.2 23.7 22.3 23.0 24.0 25.5 27.3 31.6
Undistributed profits
20.8 31.3 31.8 33.6 31.0 28.9 33.7 37.3
Inventory valuation adjustment- -7.0 -17.6 -16.5 -20.0 -17.5 -16.3 -31.0 -37.9
Cash flow, gross of dividends
Cash flow, net of dividends
106.6 123.1 120.4 124.3 123.5 124.2 131. e 141.2
84.4 99.4 98.1 101.3 99.5 98.7 104.4 109.6
479.0 516.4 510.1 516.1 518.7 520.6 509.7 510.1
Dollars
Current dollar cost per unit of
1958 dollar gross product
originating 2in nonfinancial
corporations
Capital consumption allowances
Indirect business taxes plus transfer
payments less subsidies
Compensation of employees
Net interest
Corporate profits and inventory valuation adjustment
Profits tax liability
Profits after tax plus inventory valuation adjustment...
1.282 1.325 1.301 1.315 1.330 1.354 1.391 1.433
.133
.132
.130
.131
.132
.134
.139
.142
.123
.845
.037
.123
.879
.040
.122
.858
.038
.122
.870
.039
.124
.884
.040
.124
.905
.041
.128
.937
.043
.130
.960
.044
.145
.070
.151
.079
.153
.079
.152
.081
.151
.078
.150
.077
.145
.086
.157
.096
.075
.073
.074
.071
.072
.073
.059
.061
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.
3. Personal saving as a percentage of disposable personal income.
4. On February 18, 1974, the U.S. Government granted to India $2,015 million (quarterly
rate) in rupees under provisions of the Agricultural Trade Development and Adjustment
Act. Tentatively, this transaction is being treated as capital grants paid to foreigners in the
national income and product accounts but as current unilateral transfers in the balance
of payments accounts. Accordingly, this transaction is excluded from Federal Government
transfers to foreigners and related totals shown in tables 12, 13, and 15, and is included in
the first quarter of 1974 as —$8.1 billion (annual rate) in capital grants received by the U S
shown in tables 12 and 15.
*See footnote on page 15.
1.1
1.3
.9
1.0
.9
2.2
1.2
1.0
52.6
74.4
65.3
69.6
73.2
89.3
84.4
71.5
Addenda:
Disposable personal income:
Total, billions of 1958 dollars. 580.5
Per capita, current dollars. .. 3,843
Per capita, 1958 dollars
2,779
Personal saving rate,3 percent 6.6
619.6
4,295
2,945
8.2
615.1
4,143
2,931
7.5
618.2
4,244
2,941
7.8
621.8
4,339
2,952
8.0
622.9
4, 452
2,952
9.5
610.3
4,497
2,887
8.9
603.5
4,565
2,850
7.4
Equals: Personal saving. .
Table 11.—Personal Consumption Expenditures by Major Type (2.3)
Billions of 1958 dollars
Gross product originating in
non financial corporations
Less: Personal outlays
Personal consumption expenditures
Interest paid by consumersPersonal transfer payments
to foreigners
Personal consumption
expenditures
Durable goods
Automobiles and parts
Mobile homes
Furniture and household
equipment
Other
Nondurable goods
...
Food and beverages
Clothing and shoes
Gasoline and oil
Other
Services
- ...
Housing
Household operation
Transportation
Other
729 0
118.4
53.1
4.1
805 2
130.3
57.5
4.4
781 7
132.4
60.4
4.8
799.0
132.1
59.2
4.7
816 3
132.4
59.3
4.2
823.9
124.3
51.2
4.0
840.6
123.9
48.0
4.0
869 1
129.5
50.6
4.1
48.7
16.6
299.7
143.7
63 0
25.0
67.9
310.9
107.9
43.3
21.8
137.9
55.0
17.8
338.0
165.1
70 2
28.3
74.4
336.9
116.4
47.3
23.4
149.9
54.3
17.7
323.3
155. 9
69 1
26.8
71.5
325.9
113.1
45.6
22.8
144.5
54.9
18.0
332.7
160.9
70 1
28.0
73.6
334.2
115.6
46.6
23.1
148.8
55.5
17.6
343.8
169.1
70.6
28.7
75.4
340.1
117.0
48.3
23.6
151.2
55.4
17.7
352.1
174.5
70.9
29.8
77.0
347.4
119.7
48.7
24.1
155.0
57.5
18.3
364.4
180.1
72.8
31.5
80.0
352. 4
122.2
49.2
25.0
156.0
59.5
19.4
375.8
183.5
74 4
36.8
81.1
363.8
124.9
51.7
25.6
161.6
Table 12.—-Foreign Transactions in the National Income and
Product Accounts (4.1)
Receipts from foreigners
Exports of goods and servicesCapital grants received4 by the
United States (net) .
Payments to foreigners
Imports of goods and servicesTransfers to foreigners . .
Personal
Government
Net foreign investment
73.1
72.4
100.4
100.4
88.8
88.8
95.4
95.4
103.7
103.7
113.6
113.6
123.2
131.2
141.0
141.0
.7
73.1
78.4
3.8
1.1
2.7
—9.1
.0
100.4
96.4
3.9
1.3
2.6
.1
.0
88.8
89.5
3.0
.9
2.1
-3.8
.0
95.4
94.9
4.2
1.0
3.3
-3.7
.0
103.7
96.9
3.6
.9
2.7
3.1
.0
113.6
104.3
4.7
2.2
2.5
4.7
-8.1
123.2
119.9
3.7
1.2
2.5
-.4
.0
141.0
139.0
3.7
1.0
2.7
-1.7
SUKVEY OF CURRENT BUSINESS
August 1974
1974
1973
1972
1973
I
III
II
17
IV
I
1973
II*
1972
1973
I
Seasonally adjusted at annual rates
227.2 258.5 249.1 255.0 261.8 268.3 279.4 291.6
108.2 114.1 107.9 110.3 116.7 121.6 124.1 129.4
Personal tax and nontax receipts
36.6 43.7 42.8 44.7 43.8 43.5 47.2 52.2
Corporate profits tax accruals
Indirect business tax and nontax
20.0 21.2 20.9 21.4 21.0 21.3 21.5 21.9
accruals
Contributions for social insurance. .. 62.5 79.5 77.4 78.6 80.2 81.8 86.7 88.1
244.7 264.2 260.2 262.4 263.4 270.6 281.0 291.6
104.9 106.6 106.4 106.2 105.3 108.4 111.5 114.3
74.8 74.4 75.0 74.0 73.3 75.3 75.8 76 6
30.1 32.2 31.4 32.2 32.0 33.1 35.7 37.7
Transfer payments
To persons
To foreigners (net)4
82.8
80.1
2.7
95.5
92.9
2.6
92.0
89.9
2.1
94.7
91.5
3.3
96.5
93.9
2.7
98.8 106.5 113.6
96.3 104.0 110 8
2.5
2.5
2.7
Grants-in-aid to State and local governments-
37.4
40.5
41.2
40.1
39.8
41.0
42.9
43.2
13.5
16.3
14.8
15.9
16.8
17.6
17.9
18 7
5.4
5.0
4.8
3 8 3.7
4.5
-.9 -1.3 -1.1
2.2
1.8
-.4
1.3
15
2
.0
-.6
-1.7 -2.3 -1.5
.0
Net interest paid
Subsidies less current surplus of government enterprises
Subsidies
Current surplus
5.3
6.6
6.1
4.2
5.6
4.9
-1.0 -1.1 -1.1
Less: Wage accruals less disbursements-
.5
.0
.1
-. 1
Surplus or deficit (— ), national
income and product accounts
-17.5 -5.6 -11.2 -7.4
.0
I
II
Table 16.—Implicit Price Deflators for Gross National Product (8.1)
(3.1, 3.2)
Purchases of goods and services...
National defense
Other .
IV
Index numbers, 1958=100
Table 13.—Federal Government Receipts and Expenditures
Federal Government expenditures
III
Seasonally adjusted
Billions of dollars
Federal Government receipts _
II
1974
.0
Gross national product
Personal consumption expenditures
Durable goods
Nondurable goods
Services-
146.12 154.31 149. 95 152.61 155. 67 158.93 163.61 167.39
138.2 145.9 141.4 144.3 147.0 150.8 155.8 160.2
112.9 114.7 113.0 114.2 115.9 116.0 117.8 121.3
136.1 147.9 141.4 145.7 149.5 154.8 162.7 168.0
153.8 160.5 157.4 159.4 161.0 164.1 167.3 171.4
Gross private domestic investment
Fixed investment
144.8 152.4 148.7 151.4 154.3 155.4 157.8 162.3
Nonresidential
139.6 144.9 141.7 143.9 146.1 147.9 150.7 154.9
Structures. ._
172.6 185.4 180.4 184.1 187.1 189.7 192.2 196.2
Producers' durable equipment... 126.5 130.0 127.5 129.2 131.1 132.3 134.8 139.2
Residential structures
157.4 174.0 167.1 172.1 178.1 179.7 183.8 190.0
Nonfarm
157.5 174.0 167.2 172.1 178.1 179.8 183.9 190.2
Farm
151.7 168.0 160.6 164.9 171.2 171.8 175.4 181.5
Change in business inventories..
Net exports of goods and services
Exports
Imports .
Government purchases of goods and
services
Federal
State and local
Table 14.—State and Local Government Receipts and Expenditures
130.0 150.6 137.1 144.8 155.0 164.8 179.0 189.2
133.7 155.6 141.2 152.2 158.7 170.9 194.0 215.2
178.6 191.5 186.7 189.9 192.6 196.5 202.9 208.8
171.9 185.9 180.5 184.0 187.3 192.1 198.0 203.0
183.7 195.1 190.9 193.9 196.0 199.3 206.0 212.4
(3.3, 3.4)
Table 17.—-Implicit Price Deflators for Gross National Product by
Major Type of Product (8.2)
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
Net interest paid
Subsidies less current suiplus of government enterp rises .
Subsidies
Current surplus
34.2
5.0
37.2
6.1
36.2
6.0
36.9
6.2
37.4
6.1
90.0
10.6
37.4
98.0
11.7
40.5
95.6
11.3
41.2
97.2
11.6
40.1
99.4 100.0 101.2 104. 0
11.9 12.1 12.4
39.8 41.0 42.9
37.8
6.5
146.12 154. 31 149. 95 152. 61 155. 67 158.93 163.61 167. 39
164.9 184.4 177.0 181.7 186.2 192.7 197.4 203 3
150.8 169.8 162.6 167.1 171.6 177.9 184.8 ^Q'C
18.6 20.1 19.5 19.9 20.3 20.8 19.1
-.3 -.8 -.5 -.7 -.9 -1.2 -1.5
4.4
.1
4.4
4.7
.1
4.8
Less: Wage accruals less dispursements
-.2
.0
.0
j
Surplus or deficit (-), national
income and product accounts
12.3
9.2
13.2
10.4
Addenda:
Surplus social insurance funds
Surplus or deficit (— ) all other
State and local funds
38.2
6.0
4.6 -4.7 —4.8
.1
.1
.1
4.7
4.8
4.9
4.9
.1
4.9
4.9
.1
5.0
.0
.0
.0
8.4
4.6
P rs n 1
Undistributed corporate profits
Corporate inventory valuation adjustment .
Corporate capital consumption
allowances
Noncorporate capital consumption
2 4
Private
9.6
9 7
4.0
9.1
.1
8.8
4.5
9.0
-.8 -4.7 -6.2
7 2
1.3
9.2
9.4
'
_ 1A _
178.5 210. 9 199.0 204.9 210.3 229.4 222.7 210.
7
52.6 74.4 65.3 69.6 73.2 89.3 84.4 -- _
30.3 43.3 42.8 44.9 43.1 42.5 53.5 58t 5
7 0 -17.6
16 5
20 0
17 5
16 3
70.8
71.6
73.1
74.1
75.7
Wage accruals less disbursements
38.2
.0
39.7 39.8
-. 1
.0
40.9
.0
41.7
.0
.0
Government surplus or deficit (— ),
national income and product
accounts
-5.1
3.5
2.1
2.3
1.8
3.0
6.7
-17.5 -5.6 — 11.2 -7.4 -1.7 -2.3 -1.5
12.3
9.2 13.2 10.4
3.4
8.4
4.6
.7
.0
.0
.0
.0
146.12 154.31 149. 95 152. 61 155. 67 158.93 163.61 167.39
139.61 147. 56 143.22 145. 90 148.96 152.10 156. 77 160. 62
Business
Nonfarm
Farm
Households and institutions. ._
Rest of the world
General government
Federal
State and local
137.8
137.9
135.7
211.7
145.6 141.4 144.0 147.0 150.0 154.3 157.7
143.3 140.3 142.1 144.0 147.0 151.6 156.8
206.1 170.4 194.3 233.0 228.5 224.1 177.8
222.7
224.6 238.5 234.3 236.3 239.3 244.0 246.2 248.5
232.6 248.3 243.6 244.6 248.0 257.3 259.1 260.7
220.2 233.4 229.3 232.0 234.8 237.3 239.8 242.5
Addendum : Gross domestic product . . .146. 18 154.27 150.00 152. 57 155.63 158.81 163.20 166. 75
31 0
69.2
.0 -8.1
Table 19.— GNP: Change from Preceding Period (7.7)
•°
Q
Percent at annual rate
Percent
Gross national product:
170.2 209.4 195.2 210.4 212.1 229.1 210.1 ^10. i
Gross private domestic investment.. 179.3 209.4 199.0 205.1 209.0 224.5 210.5 211. 8
Net foreign investment
.1 -3.8 -3.7
-9.1
3.1 4.7 -.4 ~ lt 7
„
Statistical discrepancy
-3.8 -5.0 -5.9 -6.5 -4.9 -2.6 -6.3
d >t1
*See footnote on paee 15.
112.4 112.9 111.2 112.3 115.2 113.0 114.7 118.7
3.4
39.6
.0
555-443 0 - 7 4 - 3
Addendum : Gross auto product . .
Table 18.— Implicit Price Deflators for Gross National Product by
Sector (8.4)
71.2
Gross investment
167.5 175.5 172.0 174.1 176.0 179.7 183.4 188.0
166.8 182.4 176.1 180.8 184.8 188.4 193.9 200.0
5. l
36.6
-.3
Capital grants received by the United
States (net)*
Services
Structures
.1
66.3
Federal
State and local. . .
127.8 135.6 130.9 133.7 137.3 140.6 145.2 148.1
119.1 121.5 119.2 120.4 122.6 123.8 125.4 126.2
134.5 147.1 140.5 144.6 149.3 153.9 161.1 165.0
Gross national product.
8.4
146.3 154.5 150.1 152.8 155.8 159.3 163.7 167.4
Goods output
Durable goods
Nondurable goods
K n
Table 15.— Sources and Uses of Gross Saving (5.1)
Gross private saving
Final sales
9.8
6.2
3.4
3.9
11.8
5.9
5.6
6.0
15.5
9.5
5.5
6.4
9.6
2.2
7.3
7.1
10.1
1.6
8.3
8.1
4.5
11.2
2.3 -7.0
8.6 12.3
8.5 11.6
Constant dollars
implicit price deflator
Chain price index
9.8
6.7
2.9
3.2
12.2
6.2
5.7
5.9
16.6
10.0
6.0
6.7
10.0
2.1
7.7
7.5
10.4
1.6
8.7
8.4
4.0
9.0
11.2
2.3 -7.8 —1.1
8.7 12.9
8.6 12.6 10.7
Gross domestic product:
Current dollars
Constant dollars.
mit/uun, p*iw ucuaiw
9.8
6.2
33
11.7
5.9
55
15.2
9.2
55
9.8
2.6
7 0
10.0
1.6
R a
11.1 2.7
2.4 -7.9
8.4 11.5
Constant dollars
Implicit price deflator.
Gross private product:
8.70
9*. 6
9.9
9.3
.3
9.0
Revised Deflators for New
Construction, 1947-78
Introduction
The price indexes used to deflate
figures for construction have been
_[ RICE indexes for the various types widely criticized. Many believed that
of new construction are needed in pre- they overstated price increases in conparing estimates in constant prices for struction and, consequently, underthe Census Bureau's series on the value stated the growth rate of real output in
of new construction put in place and for construction. The primary reason for
the structures components of gross this upward bias is that many of the
national product (GNP). Since con- deflators are based on privately comstruction presently accounts for about piled cost indexes that measured the
one-eighth of total GNP, the price prices of inputs to construction (labor
indexes used to deflate figures for this and materials) rather than the prices of
component are important to the accu- outputs of construction. Since input
rate measurement of GNP in constant cost indexes do not take account of
prices. The indexes also contribute to productivity changes, they cannot adethe measurement of overall price quately measure the price trends of
changes in the economy and influence construction. The deficiencies of the
the estimates of the value of stocks of construction deflators used in the naresidential and nonresidential struc- tional income and product accounts
tures.
were considered so serious that BEA
Acknowledgments
These revised deflators for new construction resulted from extensive research by the
Bureau of Economic Analysis (BEA) and the Bureau of the Census, Social and Economic
Statistics Administration, U.S. Department of Commerce. The cooperation and assistance
of other Government agencies and of private organizations are gratefully acknowledged.
• Bureau of Accounts, U.S. Interstate Commerce Commission
• Bureau of Labor Statistics, U.S. Department of Labor
• Bureau of Public Roads, U.S. Department of Transportation
• Bureau of Reclamation, U.S. Department of the Interior
• Federal Housing Administration, U.S. Department of Housing and Urban
Development
• Office of Water Programs, Environmental Protection Agency
• American Telephone and Telegraph Company, New York
• Turner Construction Company, New York
• Whitman, Requardt and Associates, Baltimore
Appreciation is also expressed to Robert J. Gordon, University of Chicago, who served
as a consultant to BEA. Although he worked closely with BEA on many aspects of the
project, he is not responsible for the results presented here.
BEA and Census staff members (present and former) who contributed substantially
to this research are:
Bureau of Economic Analysis: Claiborne Ball, Jack Gottsegen, Lawrence Grose, Martin
L. Marimont, John C. Musgrave, Irving Rottenberg, and Robert C. Wasson.
Bureau of the Census: Samuel J. Dennis, Benjamin D. Kaplin, Jack Silver, and Alton
Skinner.
18
developed an alternative set of interim
deflators that are being used to derive
capital stock measures for nonresidential structures.1
The indexes used by BEA and Census
as construction deflators during most of
the post-war period were selected about
1946 from the cost and price indexes
then available. Since there was no
comprehensive Government program
for the measurement of the construction prices, most of the series chosen
were based on privately compiled
indexes.
Price Statistics Review Committee
In January 1961, as part of its overall
review of price indexes, the Price
Statistics Review Committee of the
National Bureau of Economic Research
reported to the Joint Economic Committee of Congress on the state of
construction deflators.2 Their main criticisms of construction price measures
1. Fixed Nonresidential Business Capital in the United
States, 1925-1978. A Supplement to the SURVEY OF CURRENT
BUSINESS, National Technical Information Service, January
1974.
2. The Price Statistics Review Committee was organized
by the National Bureau of Economic Research at the request
of the Bureau of the Budget. The Committee's report is
given in: U.S. Congress, Joint Economic Committee, Government Price Statistics Hearings . . . , January #4,1961.
3. ibid., pages 87 and 88.
NOTE.—The revised construction deflators
presented in this article will be introduced in
the historical estimates in the forthcoming
benchmark revision of the U.S. national
income and product accounts. In the annual
revision of the accounts presented in the July
1974 SURVEY, the revised deflators were introduced for estimates beginning with the first
quarter of 1971. The changes in the revised
deflators from the fourth quarter of 1970 were
linked to the existing (unrevised) deflators
for the fourth quarter of 1970. Estimates for
1970 and earlier periods were not revised in
the July 1974 SURVEY.
August 1974
SUEVEY OF CUERENT BUSINESS
"The Department of Commerce com- materials are combined are usually
posite construction cost index is the based on periods in the remarkably
closest substitute for a comprehensive remote past, and their accuracy even
construction price index now available. for the period to which they relate is
It is a very distant substitute, being dubious. (5) It appears that the wage
defective in almost every possible way. rates and prices used frequently do not
This is the inevitable result of the fact represent actual transaction prices but
that, up to this time, only the skimpiest rather some type of quoted or 'normal'
of resources have been devoted to it. price. (6) The geographic coverage and
It depends entirely on secondary sources weighting of the indexes are rarely
(no original data have ever been suitable and comprehensive. (7) The
collected for it), and these are more timing of the cost indexes is not, in
than ordinarily defective.
general, appropriate for deflation of the
"The gravest deficiency of the index construction activity estimates. . . ."
originates in the character of the
The Price Statistics Eeview Comindividual cost indexes used for defla- mittee recommended that the develoption. . . . For the most part, they are ment of statistically adequate construc. . . indexes of wage rates and building tion price indexes be given a high
material prices weighted together in priority in the Federal Government's
accordance with their importance in the price statistics efforts and that a decost of a unit of construction in some tailed program be drawn up and
specified category in a base period. As implemented as quickly as possible.
such, when used to measure price . . .
they assume that there is no change in Followup of Committee's recommenproductivity in construction. Over any dations
considerable period of time this tends
The preparation of good price indexes
to impart a strong upward bias to the for the various types of construction is
cost indexes. The only reason for any extremely difficult. The essence of price
doubt that such an upward bias exists measurement is that a time series of
in the 'composite' index arises from the price observations be obtained for
many other deficiencies of the com- products of the same specifications.
ponent indexes which impart other This is easily done for homogeneous
biases of unknown direction.
products (coal, sugar, wheat), but the
"These other deficiencies are ex- output of construction is one of the most
tremely serious. We merely list what heterogeneous that must be faced in
seem to be the more important ones. price measurement. Houses are rarely
(1) Most of these indexes are compiled built with the same specifications for
by private firms as a by-product of more than a year or two; factories, office
other activities viewed as far more buildings, $nd shopping centers are
important. They are not reviewed by almost never built twice with the same
any central agency for adequacy of specifications. Hence, the proper measstatistical procedures nor for consist- urement of price change in construction
ency. Information in sufficient detail to is at the "frontier" and requires special
permit adequate review . . . is not techniques not normally used in pregenerally available. (2) The indexes are paring price indexes.
not prepared in order to provide approIn 1963, the Census Bureau took an
priate coverage for the categories of
important first step toward providing
construction they are used to deflate. better construction deflators for new
Instead, these categories are deflated by
single-family houses by introducing a
whichever of the available indexes
survey of house prices. After a few
seems to fit most closely (or least disyears of experimental work, Census
tantly) each category of construction
published the survey results in 1968.4
activity. In some cases, no relevant
It hopes to prepare similar indexes for
index is available. (3) The bill of
other kinds of construction during the
materials priced and included in the
indexes is usually incomplete, and in 1970's.
some cases grossly so. (4) Weights by
4. For more details on this index, see Price Index of New Onewhich various indexes of wage rates and Family
Houses Sold, C27-73-2, U.S. Department of Commerce.
19
Although new surveys to provide
appropriate construction deflators for
other types of construction await the
future, BEA and Census felt that price
indexes superior to those presently
being used could be prepared to deflate
the various components of currentdollar construction. Accordingly, BEA
and Census began a comprehensive
investigation of all the construction
price data available. Extensive research
resulted in what are believed to be
improved deflators for 1947 and thereafter. They will be used until better
deflators become available.
Six criteria were set forth as guides
for selecting the revised deflators:
• The indexes should represent, as
nearly as possible, actual prices paid
for the actual products of construction
that they are being used to deflate.
• The indexes should be based on
data from scientific samples.
• Government agencies should compile the indexes and have the details of
the procedures available for review.
Where no appropriate Governmentcompiled index exists, details of the
privately compiled index should be
readily available.
• The indexes should be available
with reasonably good frequency and
timing.
• The indexes should represent national price trends.
• The indexes should measure construction with fixed specifications. If
the specifications change, the indexes
should be adjusted to eliminate the
effect of the change.
There are few construction categories
for which the revised deflators meet
all these criteria. However, the revised
indexes come closer to meeting them
than those used previously.
Because of insufficient data before
1947, revised deflators are available
only for the period 1947 forward. The
pre-1947 deflators are linked to the
revised deflators in 1947. This changes
the level of the pre-1947 deflators and
the corresponding constant-dollar values, but preserves the year-to-year
movements.
20
SURVEY OF CURRENT BUSINESS
The implications of the revised deflator^, in terms of changes in prices of
construction, are discussed in the next
section.5 Following this, the revised
deflators and the reasons for their
choice are discussed, along with a
description of the three methods that
are used to calculate the deflators. The
specific indexes used to derive the
unrevised and revised deflators for
each type of construction activity are
given in exhibit A.
Comparisons of Unrevised and
Revised Deflators
The unrevised and revised deflators
for total new construction and its
major components are given in table 1.
Rates of increase for these deflators
are compared in table 2. The main
conclusions that may be drawn from
these comparisons are:
• The unrevised deflators, compared
with the revised deflators, considerably
overstated price increases in construction since 1947.
• The overstatement of the rise in
construction prices was most pro5. The revised deflators' effects on the measures of growth
in the physical volume of construction and GNP are not
presented because these measures are also affected by changes
in construction output in current prices, which have not yet
been incorporated in the GNP statistics.
August 1974
nounced for the late 1950's and the
early 1960's. For 1947-53 it was less
severe, and since 1965 there has been
no overstatement of consequence.
• The overstatement in the rise of
construction prices was about the same
for residential and nonresidential construction and for private and public
construction.
According to the revised deflators for
1947-73, price increases in total private
new construction average 3.3 percent
per annum, compared with 3.8 percent
shown by the unrevised deflators. Although the revised price indexes increase more slowly than the unrevised
indexes in most of the periods shown in
table 2, the reductions are largest for
1957-60 and 1960-65. For the former
period, the revised, deflators show construction prices decreasing slightly,
compared with a rise of 1.3 percent in
the unrevised deflators. For the early
1960's, the annual rise in construction
prices is reduced from 2.1 percent to
1.0 percent.
For residential buildings, the price
rise for 1947-73 is slowed from 3.5
percent to 2.9 percent according to the
revised deflators. Similar to the pattern
for total construction, the sharpest reductions occur for 1957-60, when prices
rose slightly at an average of 0.2 percent
a year according to the revised deflators, rather than increasing at an
average of 1.5 percent, and for 1960-65,
when price rises are reduced from 1.8
percent to 0.4 percent a year.
Annual average price increases for
nonresidential new construction for
1947-73 are reduced from 4.2 percent to
3.7 percent. The revised deflators for
this type of construction show sharply
lower price rises for each of the subperiods, except for 1965-73, when the
rates of increase of the revised deflators
are slightly higher than those of the
unrevised.
According to the revised deflators,
for 1947-73, public construction prices
rise an average of 3.5 percent a year,
compared with 4.1 percent. For 194750, 1950-53 and 1965-69, the changes
are negligible; however, for 1953-57 and
1957-60, the annual rate of price increase is reduced from 3.2 percent to
2.6 percent and from an increase of 0.4
percent to a decrease of 1.5 percent,
respectively. A large reduction also
occurs for 1960-65, when the price rise
is cut from 2.8 percent to 1.9 percent a
year. For 1969-73, the revised deflators
increase at the same rate as the unrevised deflators.
Table 1.—Unrevised and Revised Deflators for New Construction, 1947-73 (1958 = 100)
Private
Total new construction
Unrevised
Revised
Residential
new construction
Unrevised
Public
Nonresidential
new construction
Revised
Unrevised
Nonresidential
buildings excluding farm
Revised
Unrevised
Revised
Buildings excluding
military
New construction
Unrevised
Revised
Unrevised
Revised
1947
1948
1949
68.7
76.7
75.2
72.2
79.3
79.4
71.8
80.8
78.5
75.2
81.6
82.7
64.3
71.5
71.2
67.6
74.9
73.8
65.7
73.8
73.4
73.2
81.3
79.2
69.2
75.2
74.2
73.3
81.5
80.6
65.8
74.7
74.2
73.7
81.3
79.7
1950
1951
1952
1953
1954 ... ..
78.1
84.3
87.4
88.5
88.1
80.5
88.0
90.8
91.6
91.0
82.5
88.6
90.8
91.9
90.4
84.8
90.9
93.5
94.1
94.6
72.8
79.3
83.2
85.0
86.0
74.9
83.5
86.1
88.3
88.0
74.5
80.7
84.1
85.6
85.8
78.6
89.2
91.6
92.1
89.6
74.6
83.4
86.9
87.7
86.9
-77.4
88.7
91.9
91.7
88.9
75.3
81.6
85.1
86.7
86.3
79.3
89.4
91.9
92.3
89.9
1955
1956
1957
1958
1959
90.2
95.5
99.3
100.0
102.2
92.6
98.0
100.8
100.0
99.7
92.9
97.4
99.8
100.0
103.1
96.8
99.5
100.0
100.0
100.0
88.2
93.6
98.6
100.0
102.7
89.8
96.7
101.0
100.0
100.5
87.6
93.2
98.5
100.0
102.7
91.0
98.9
103.0
100.0
99.4
87.5
94.9
99.6
100.0
100.3
88.6
97.2
101.7
100.0
98.3
88.6
93.7
98.4
100.0
102.9
91.3
99.0
102.7
100.0
99.5
1960
1961
1962
1963
1964
103.2
104.4
106.4
108.7
111.6
99.5
99.7
100.5
101.8
102.5
104.5
105.0
106.7
108.9
112.3
100.5
100.5
100.5
101.1
101.4
104.0
105.6
107.1
108.9
111.2
100.4
100.5
100.7
102.2
103.1
104.3
107.0
109.5
112.8
115.8
98.8
99.4
100.1
103.0
104.4
100.7
102.2
105.2
108.4
111.3
97.2
97.8
100.2
102.3
103.5
105.0
107.4
109.5
113.2
116.9
99.0
99.6
100.1
102.9
104.2
1965
1966
1967
1968
1969
114.7
119.4
124.8
131.1
140.9
104.8
109.2
113.9
118.1
129.0
114.2
117.4
123.1
129.7
137.7
102.4
106.0
109.9
114.3
124.3
114.7
118.9
124.0
129.8
141.0
105.7
109.9
115.3
119.6
131.5
119.4
123.9
128.8
136.0
148.5
107.4
112.3
118.2
122.7
137.2
115.5
122.1
127.3
134.2
144.7
106.6
111.7
116.5
120.8
131.7
120.5
127.0
133.1
140.6
152.7
107.0
111.8
117.6
122.0
135.9
1970
1971
1972
1973
149.9
158.1
167. 0
182.6
138.1
145.7
153.7
168.9
140.2
147.4
157.4
174.0
128.5
135.1
144.2
159.5
152.6
163.5
172.5
185.3
142.6
152.7
160.9
175.1
161.3
173.4
182.8
199.2
148.9
159.3
167.4
183.0
158.2
168.3
178.2
195.2
144.1
153.8
162.7
177.7
163.5
174.5
183.9
201.3
146.5
156.5
165.4
181.0
Source: U.S. Department of Commerce, Bureau of Economic Analysis.
SUKVEY OF CURRENT BUSINESS
August 1974
21
price is adjusted to exclude the
change in costs associated with a
change in specifications.
• Calculate the price of a typical
good indirectly by the hedonic, or
multiple regression, technique.
Under this technique, the specifications of the good that determines
all or most of the price are identified. By use of regression equations
applied to information on the total
sales price and on the characteristics of the good, the current price
that the purchaser implicitly pays
for each of these characteristics
is approximated, and the implicit
three main types of construction—
residential, nonresidential buildings,
The deflators presented here by and nonbuilding construction—each of
category of construction activity were which accounts for about one-third of
selected after assembling all the avail- the value of total new construction
able price data for a particular category, activity. (The 1947-73 values for the
investigating the methods used in revised deflators and the indexes used
compiling the data, constructing what to derive them are given in tables 3 and
was considered the best price series, and 4, respectively.)
checking this series for consistency. In
The methods used to derive the resome cases, reliable data were not vised deflators can be grouped into
available for the specific category to be three categories:
deflated (this is why there is only one
Method 1. Measure changes in the
deflator for all types of nonresidential market price of a good that is defined
buildings); in others, contradictory data according to fixed specifications.
were available (for example, residential
• Observe directly the market price
construction). The review considered
of a typical good. The market
The Revised Deflators
Table 2.—Average Annual Percentage Change in Implicit Deflators for Ne\v Construction, Unrevised and Revised, Selected Periods,
1947-73
Public
Private
New construction
Unrevised
Residential
new construction
Unrevised
Revised
Nonresidential buildings
excluding farm
Nonresidential
new construction
Revised
Unrevised
Revised
Unrevised
Revised
Unrevised
Revised
Buildings excluding
military
New construction
Unrevised
Revised
1947-73...
3.8
3.3
3.5
2.9
4.2
3.7
4.4
3.6
4.1
3.5
4.4
3.5
1947-50
1960-53
1953-57
1957-60
4.4
4.3
2.9
1.3
3.7
4.4
2.4
-.4
4.7
3.7
2.1
1.5
4.1
3.5
1.5
.2
4.2
5.3
3.8
1.8
3.5
5.6
3.4
-.2
4.3
4.7
3.6
1.9
2.4
5.4
2.8
-1.4
2.5
5.5
3.2
.4
1.8
5.8
2.6
-1.5
4.6
4.8
3.2
2.2
2.5
5.2
2.7
-1.2
1960-65
1965-69
1969-73
2.1
5.3
6.7
1.0
5.3
7.0
1.8
4.8
6.0
.4
5.0
6.4
2.0
5.3
7.1
1.0
5.6
7.4
2.7
5.6
7.6
1.7
6.3
7.5
2.8
5.8
7.8
1.9
5.4
7.8
2.8
6.1
7.2
1.6
6.2
7.4
NOTE.—Average annual percentage change was calculated by using the compound interest
formula between terminal years of each period.
Source: U.S. Department of Commerce, Bureau of Economic Analysis.
Table 3.—Revised Deflators for New Construction, 1947-73 (1958 = 100)
Residential
buildings
Nonresidential
buildings
Railroads
Telephone
and
telegraph
Electric
light and
power
Gas and
petroleum
pipelines
Military
facilities
Highways
and streets
Water
supply
facilities
Sewer
systems
Conservation
and
development
All other
1947
1948
1949
75 2
81.6
82 7
73 2
81 3
79 2
64 5
72 0
72 0
74 3
78 1
79 9
54 5
59 4
62 7
55 6
65 7
68 7
75 4
83 7
81 8
80 0
89 7
86 6
56 0
63 5
65 0
55 8
64 7
67 0
70 5
79.5
81 8
75.1
84.6
84 1
1950
1951
1952
1953
1954
84 8
90.9
93 5
94.1
94.6
78
89
91
92
89
6
2
6
1
6
73 1
78 5
81 7
84 9
84 9
79
87
89
90
91
66
73
74
79
81
1
e
9
3
6
71 7
75 8
77 8
81 8
81 8
78
91
94
92
89
77
95
98
94
89
68
73
75
80
82
4
3
8
0
1
70 2
74.6
76 9
81.0
82 0
77.3
81.8
87.5
89.8
88.6
77.5
88.6
92.9
92.2
88.9
1955
1956
1957
1958
1959
96.8
99 5
100.0
100 0
100 0
91 0
98 9
103 0
100 0
99 4
87 1
93 5
97 8
100 0
102 2
94 7
100 2
100 6
100 0
102 4
84 0
92 0
97 7
100 0
102 4
82 8
90 9
98 0
100 0
102 0
89 5
97 5
101 3
100 0
98 5
86 8
98 1
102 5
100 0
95 8
86 2
91 3
96 6
100 0
103 3
84.4
91 1
97.4
100 0
102 5
86.4
93.2
100.0
100.0
100 0
86.6
95.6
101.2
100.0
97.9
100 5
100.5
100 5
101.1
101 4
98 8
99 4
100 1
103 0
104 4
103 2
102 2
102 2
102 2
102 2
104 9
103 1
103 3
106 0
107 0
102 5
100 3
100 6
100 7
104 0
102 0
102 0
100 0
98 0
qo q
97 6
98 1
100 6
102 4
•mo e
93 6
94 3
98 5
100 9
101 5
104 6
106 0
107 4
109 8
111 4
103 2
103 9
103 4
103 4
101 9
98.9
98.9
101.1
102.3
104 5
96.3
96.5
99.8
101.6
103.0
1965
1966
1967
1968
1969
102.4
106.0
109 9
114.3
124.3
107 4
112 3
118 2
122 7
137 2
103 2
105 4
107 5
115 5
119 2
109 1
115 1
119 5
126 2
133 2
106 2
109 6
114 2
118 8
125 9
98 0
100 0
101 0
104 0
107 1
106 6
111 7
115 9
120 7
131 4
105 5
112 3
116 8
120 8
130 6
113 3
117 1
120 8
125 4
134 4
105 0
107 8
110 0
113 8
119 5
106.8
109.1
113 6
118.2
125.0
106.2
110.6
115.2
119.5
127.8
1970
1971
1972
1973 - -
128 5
135.1
144 2
159 5
148 9
159 3
167 4
183 0
131 0
139 6
148 0
159 9
147 7
157 1
169 3
6
180 0
136 1
146 7
155 1
166 0
110 1
118 2
123 2
131 3
144 0
153 3
162 5
177 5
146 7
153 9
161 4
178 0
145 4
161 8
177 1
189 1
126 2
138 1
147 7
157 6
134 1
145.5
155 7
164 8
140.3
149.5
158.5
171.3
1960
1961
1962
1963
1964
.
9
2
2
8
9
• Estimated.
Source: U.S. Department of Commerce, Bureau of Economic Analysis.
9
3
0
6
5
8
6
2
6
3
SUEVEY OF CUEKENT BUSINESS
22
prices are combined to a total
price.
• Describe a typical good in all of its
specifications and ask a sample of
producers what the price would be.
Method 2. Measure changes in the
market price of the component operations required to make the good. In the
case of structures, component operations include erecting walls, floors, and
roofs, installing electrical systems, excavating foundations, and so on.
• Determine component prices from
actual transactions or derive them
from bids on a hypothetical good of
fixed specifications. Aggregate separate prices of these components to
yield the price of the complete
hypothetical good.
Method 8. Measure changes in the
price of the labor, materials, and other
inputs required to produce the good.
• Adjust price change to reflect
changes in productivity and profit
margins.
• Adjust price change to reflect
changes in productivity, but not
profit margins.
• Do not adjust price change for
changes in productivity or profit
margins.
The revised price indexes incorporate
one or more of these methods. The type
of method is noted in each case.
August 1974
method to eliminate the effects of
changes in 8 physical characteristics
that are considered to be the most
important cost determinants of houses.
Currently, the Census Bureau obtains about 20,000 observations of new
houses sold. Each observation consists
of sales price (including site value) and
8 characteristics that are classified into
35 categories, as follows:
Residential construction
The various available price indexes
for residential construction are: the
Census Bureau price of new singlefamily houses, an index of price per
square foot based on Federal Housing
Administration-insured new houses, a
70-cities index developed from FHA
data by BEA, a residences index compiled by the Boeckh Division of the
American Appraisal Company (table 5).
Size of house
(floor area)
a.
b.
1, 000-1, 199
square feet
Other size classes (8)
Number of stories. .. 1 story
Available price indexes
The Census Bureau index of new
single-family houses (Method 1). This
index of the price of new single-family
houses sold is available since 1963 and
(with an adjustment for site values) is
the deflator for residential construction
since 1963.
This index is based on a monthly
national probability sample survey that
collects information on the sales prices
and physical characteristics of all new
single-family houses sold. The average
sales price is adjusted by the regression
Number of bathrooms.
1J/6 or 2
Split levd: 2
or
more
stories.
Less
than
1% more
than 2.
Central air conditioning.
Not present
Present.
(1)
Garage
Basement
Present
Not present
Not present
Present
(1)
(1)
(2)
(2)
Geographic region... Middle Atlantic. Other
regions.
(11)
Not in area.
(1)
Metropolitan area. . . In area
Number of categories.
8
27
The information entering into the
regression calculation for each house
Table 4.—Indexes Used to Derive Revised Deflators for New Construction, 1947-73 (1958=100)
FHA
price-persquare foot
70-cities
Census
single-family
houses
Turner
Construction Co.
Bureau of Public Roads
Composite
Structures
Interstate Commerce
Commission
Railroad
Bell
system 1
Pipelines
HandyWhitman
electric 2
Environmental
Protection
Agency 3
Bureau of
Reclamation
composite
1947 .
1948
1949
66.3
76.1
79.3
83.9
87.1
86.0
n.a.
n.a.
n.a.
66.3
73.5
71.1
80.0
89.7
86.6
78.1
88.9
83.5
64.5
72.0
72.0
55.6
65.7
68.7
74.3
78.1
79.9
54.5
59.4
62.7
56.0
63.5
65.0
70.5
79.5
81.8
1950
1951
1952
1953
1954.
79.3
85.9
91.3
91.3
91.3
90.3
95.7
95.7
96.8
97.8
n.a.
n.a.
n.a.
n.a.
n.a.
74.7
83.1
85.5
86.7
84.3
77.8
95.6
98.2
94.6
89.3
75.3
93.6
95.5
95.4
89.2
73.1
78.5
81.7
84.9
84.9
71.1
75.8
77.8
81.8
81.8
79.9
87.2
89.2
90.8
91.9
66.1
73.6
74.9
79.3
81.6
68.4
73.3
75.8
80.0
82.1
77.3
81.8
87.5
89.8
88.6
1955
1956
1957
1958.
1959
93.5
98.9
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
n.a.
n.a.
n.a.
n.a.
n.a.
86.7
94.0
100.0
100.0
102.4
86.8
98.1
102.5
100.0
95.8
88.6
103.5
109.4
100.0
95.6
87.1
93.5
97.8
100.0
102.2
82.8
90.9
98.0
100.0
102.0
94.7
100.2
100.6
100.0
102.4
84.0
92.0
97.7
100.0
102.4
86.2
91.3
96.6
100.0
103.3
86.4
93.2
100.0
100.0
100.0
I960
1961
1962.
1963
1964
101.1
101.1
101.1
102.2
102. 2
100.0
100.0
100.0
100.0
100.0
n.a.
n.a.
n.a.
101.1
101.4
102.4
103.6
104.8
107.2
109.6
93.6
94.3
98.5
100.9
101.5
93.0
93.7
94.6
100.4
102.0
103.2
102.2
102.2
102.2
102.2
102.0
102.0
100.0
98.0
93.9
104.9
103.1
103.3
106.0
107.0
102.5
100.3
100.6
100.7
104.0
104.6
106.0
107.4
109.8
111.4
98.9
98.9
101.1
102.3
104.5
1965
1966
1967.
1968
1969
103.3
103.3
108.7
113.0
120.7
101.1
104.3
107.5
115.1
123.7
102.4
106.0
109.9
114.3
124.3
113.3
116.9
120.5
127.7
141.0
105.5
112.3
116.8
120.8
130.6
106.9
114.4
125.2
127.0
148.1
103.2
105.4
107.5
(*)
(*)
98.0
100.0
101.0
104.0
107.1
109.1
115.1
119. 5
126.2
133.2
106.2
109.6
114.2
118.8
125.9
113.3
117.1
120.8
125.0
134.2
106.8
109.1
113.6
H8.2
125.0
1970
1971
1972.
1973
125.0
133.7
n.a.
n.a.
126.9
131.2
n.a.
n.a.
128.5
135.1
144.2
159.5
155.4
172.3
184.3
196.4
146.7
153.9
161.4
178.0
165.5
173.3
176.0
195.9
8
110.1
118.2
123.2
131.3
147.7
157.1
169.3
«180. 0
136.1
146.7
155.1
166.0
145.3
161.8
177.1
189.1
134.1
145.5
155.7
164.8
.
n.a. Not available.
"Discontinued after 1967.
1. Weighted average of Bell System indexes for buildings and outside plant, weighted by
relative value of expenditures.
2. Weighted average of Handy-Whitman indexes for electric plant (90%) and utility buildings (10%).
8
3. Environmental Protection Agency index for sewers and sewer systems.
•Estimated.
Source: U.S. Department of Commerce, Bureau of Economic Analysis.
August 1974
sold consists of the price and categories
describing the house, 8 of which have a
value of 1 and 27 of which have a value
ofO.
The regression calculation estimates,
for each period, the price of houses
having the basic configuration. The
basic configuration is the list of 8 categories shown in column a. A calculation
is also made of the price differential
associated with each of the 27 categories
that differ from the basic configuration;
for example, the basic configuration
consists of a house without central air
conditioning. The regression procedure
estimates the price differential of air
conditioning.
These price differentials are obtained
for the base period and for the current
period. They are converted into a price
index by the following steps: (1)
current-period price differentials are
multiplied by the base-period proportion of houses having the specified
category; (2) these products are
summed, added to the price of the
basic configuration in the current
period, and an estimate of the site
value is subtracted; and (3) the result
of step (2) is divided by the average
house price less an estimate of the
site value in the base period that
provides the index for the current
period. For the period through 1969
the estimate of site value was based
upon FHA information. Since that
date, the estimate of site value has
been calculated from information reported in the Census Bureau survey of
new single-family houses.
As noted, the Census index explicitly
takes account of only 8 physical
characteristics of a single-family house.
To the extent that the prices of other
characteristics are closely correlated
with one or more of the 8 measured,
the price index would represent price
changes of a house with fixed specifications. For example, an increase in floor
area, which is measured, may also
reflect an increase in the size of a
water heater, which is not measured.
However, this may not always be the
case, and changes in characteristics
that are not measured may be registered
as price changes. For example, the
cost of extra electrical outlets may
be registered as a price increase, and
SUEVEY OF CURRENT BUSINESS
the savings from the substitution of
drywall for plaster construction as a
price decline
The Census Bureau regularly surveys
the construction industry to detect new
developments in construction that
might seriously bias its measures. If
such developments occur, the Census
Bureau tests whether adding such new
characteristics to its regression calculation would increase the proportion of
price change for which its method
accounts. At present, about 70 percent
of the price change is accounted for by
the characteristic directly measured.
Nevertheless, the possibility exists
that changes in house characteristics
can influence the Census price index.
These changes may reflect new or
improved characteristics, which could
bias the index upward, or downgraded
characteristics, which could bias the
index downward. It is likely that both
types occur all the time and therefore,
at best, partially offset each other. But,
the net effect is unknown.
FHA price-per-square-foot index
(Method 1). This index was derived by
computing the average price (adjusted
23
by BEA to exclude the FHA estimate
of site value) per square foot of floor
area for all new FHA-insured houses
sold during the year. However, this
index is likely to be subject to the
following biases: (1) number of amenities (more appliances, air conditioning,
garages, and so forth) increased over
the period, tending to bias the index
upward, (2) the average size of FHAinsured houses increased over the
period, and since unit costs fall as size
increases, this tends to bias the index
downward, and (3) FHA-insured new
houses may not be representative of all
new houses.
Seventy-cities index (Method 2).
Another index, the 70-cities index, was
prepared by BEA from FHA administrative records. This was an attempt
to prepare a conventional price index
itf which the specifications for a prototype house were highly detailed aixd
unchanged for long periods. Because
there were no observations of actual
transactions, an estimated price was
derived. Theoretically, such a procedure could yield a satisfactory result
if the costs, including profits, of all
Table 5.—Indicators of Price Trends in Housing Construction, 1947-63 (1963 = 100)
FHA PPSF
70-cities
Proposed
deflator
Boeckh
(1)
(2)
(3)
(4)
Used house
prices
(19oO=100)
Census extrapolations
1947
1948
1949
65
74
78
83
87
86
74
81
82
64
72
74
1950
1951
1952
1953
1954
77
84
89
89
88
90
95
95
96
97
83
90
93
93
93
74
80
82
83
83
1955
1956
1957
1958
1959
91
96
97
97
97
99
101
100
100
100
96
99
99
99
99
85
89
91
91
95
1960
1961
1962
1963
98
99
98
100
100
100
100
100
99
100
100
100
96
96
98
100
(5)
(6>
(7)
80
80
74
82
86
93
97
95
97
98
96
97
100
100
100
(8)
(9)
(10)
76
85
85
92
97
93
95
99
100
100
100
Sources: (1) Average price per square foot of new FHA houses sold (excluding site value).
(2) Weighted average of locality adjustment percentages for prototype houses in 70 cities (computed from FHA
data).
(3) Average of (1) and (2).
Boeckh residences index.
)-(9) Backward extrapolations of Census housing index using the following data:
(5) FHA houses—price related to size of house.
(6) FHA houses in 1950 materials use survey—price related to selected characteristics of house (size of house,
number of bathrooms, number of stories, type of foundation, type of parking facility).
(7) FHA houses—price related to selected characteristics of house (climate zone, size of house, number of
rooms, number of bedrooms, number of bathrooms, type of foundation, number of stories, type of parking facility, SMSA/non-SMSA).
(8) All houses in 1954-56 BLS study—price related to size of house.
(9) All houses in 1954-56 BLS study—price related to selected characteristics of house (size of house, type of
foundation, number of bathrooms).
,
(10) Median prices of existing houses, adjusted for changes in site values and additions and alterations, 1950 and
1960 Censuses of Housing and 1956 National Housing Inventory.
Source: U.S. Department of Commerce, Bureau of Economic Analysis.
24
house components were considered,
even though it does not meet the criteria
specified on page 19.
More specifically, FHA makes estimates, for administrative purposes, that
can be converted to a national price
index for single-family houses. Since
1953, each FHA field office semiannually estimates a locality adjustment percentage (LAP) of a prototype house that
is typical of houses in its region. This
procedure enables FHA to evaluate a
price that a builder uses in requesting a
loan guarantee. Local FHA cost analysts estimate costs for all components
of the prototype houses from proxybids by builders, subcontractors, materials suppliers, and the like. (The concept of a prototype house was first
introduced in 1953, and an updated
prototype was introduced in each FHA
field office in the early 1960's.) BEA,
by using building permit and population data as weights, combined the 70
LAP's into a national index for the
years since 1953. For 1947-52, this
index was linked to an FHA index that
was based on a similar procedure, but
that used one prototype house in all
regions.
The resultant series rises less than
any other index or any other supporting
material compiled in BEA's research up
to 1963 (table 5). To attempt to
Explain this relationship, BEA reviewed the procedures used in constructing the LAP's in the 70 FHA field
offices. This review included interviews
with FHA officials in Washington, D.C.,
and discussions with the staff of a field
office where the LAP decreased substantially during the 1950's and the
early 1960's. In addition, for some cities,
rough estimates of implied productivity
trends were prepared.
The conclusions of this review follow.
The statistical procedures used in
compiling the LAP's are generally unsatisfactory for constructing a price
index because :
(a) The house on which bids are taken
is not actually built—that is, it is not a
real house; thus, the bids may be biased
since the bidder knows that he will not
be required to honor his bid.
(b) The price survey is not based on
a scientific sample, and the local cost
analysts have wide latitude in selecting
SUEVEY OF CUEEENT BUSINESS
builders, subcontractors, and material
suppliers to obtain price information.
(c) The cost analysts subjectively
select a price for each house component
from the assembled information. This
price is not an actual average of reported data in the statistical sense. Different analysts working with the same
data could arrive at different results.
For example, the substantial decrease
in the LAP previously noted for one
field office was due, at least in part, to
permitting quality deterioration to be
reflected as a price decline.
As a result of these inadequate procedures, the observed LAP's yielded
inexplicable and inconsistent results.
For example, the trends in the LAP's
for the various cities diverged widely
even though the cities were close together. Furthermore, when the LAP's
and related information were used to
approximate productivity trends for
cities for which data were available,
there were gross differences between the
calculated productivity trends for neighboring cities.
Boeckh residences index (Method
3). This index is a simple average of the
Boeckh indexes for frame houses and
brick houses. Compiled by the Boeckh
Division of the American Appraisal
Company, these are fixed-weighted
indexes of the costs of selected building
materials and labor rates in 20 cities.
The weights are based on labor and
materials costs for construction of both
types of houses during 1926-29. Materials cost data are obtained from local
building materials dealers; wage rate
data are obtained from construction
contractors and building trade associations. Deficiencies in this index are
the use of costs of construction inputs
rather than prices, the obsolete reference
period for weighting, and the incomplete list of materials priced.
Supporting material
In addition to these four series,
the following material was used in
evaluating the deflators for residential
construction.
The Census Bureau prepared indexes
of price change, for various years in
1950-63, that were based on regression
analysis utilizing FHA data or Housing
Sales Survey data. These indexes, based
August 1974
on varying numbers of characteristics,
are shown in table 5, columns 5, 6, and
7.
Indexes based on varying numbers of
characteristics for all single-family nonfarm houses were calculated by using
data from a special study by BLS for
1954-56 and Housing Sales Survey data
for 1963; they are shown in table 5,
columns 8 and 9.
A price index was estimated for 1950,
1956, and 1959 (excluding site value)
for all owner-occupied nonfarm singlefamily dwellings that existed in 1950
and were still existing in 1956 and 1959.
The index is shown in table 5, column
10. This index was constructed from
Census data on median market values
as reported by owner-occupants; adjustments were made for additions and
alterations, depreciation, and changes
in site value.
Implied residential depreciation rates
during the 1950's were calculated by
using data from the 1950 and 1960
Censuses of Housing and the figures on
residential construction expenditures
during the decade. Use of the 70-cities
index as a deflator to produce constantdollar expenditure figures implied a low
depreciation rate of housing and a
service life of 125 years.
BEA's input-output tables for 1947,
1958, and 1963 provide estimates of the
current-dollar value of nonfarm residential construction, the value of the
inputs of each of the materials and
services used in this construction, and
the value-added. By deflating the value
of the construction and the value of the
inputs, real value-added can be obtained
as a residual. Two calculations of this
type were made—one using the 70cities index and the other using the
revised indexes to yield alternative
measures of deflated construction.
The two residual measures of real
value-added were then compared with
the value of construction. The results
based on the 70-cities price index show
the real value-added percentage rising
from 30 percent in 1947 to 40 percent
in 1963. With the revised deflator, the
percentage increased less, from 37 percent to 40 percent.
The sharp rise in real value-added per
unit of output derived from the 70cities index suggests that the amount
August 1974
of work performed at the construction
site increased substantially from 1947
to 1963. This appears to be unrealistic,
considering that the use of prefabricated
components increased significantly during these years. The growing importance
of prefabrication would tend to reduce
rather than increase the proportion of
value-added to total output, in real
terms, because off-site work (largely in
manufacturing plants) would displace
on-site work.
Conclusions
After all these results were
reviewed, conclusions were drawn on
what material to use as price indexes in
deflating residential construction. Two
periods were considered separately: 1963
to date and 1947-1963.
1963 to date
The index chosen for this
period is the Census Bureau index of
new single-family houses. It moved up
a little faster than the 70-cities index
and considerably less than the costoriented Boeckh index. The FHA
price-per-square-foot index was dismissed because it was believed to be
increasingly unrepresentative of the
total housing market during this period.
Although the difference in movement
between the two was small, the Census
index is believed to be superior to the
70-cities index, because the Census
survey is based on a representative
sample, measures transactions for new
homes, and is processed by uniform and
acceptable standards by a statistical
agency. Hence, it comes closer to
meeting the criteria listed on page 19
than the other indexes do. This index
is used to deflate the value of construction of apartments, nonhousekeeping
residential buildings, and additions and
alterations as well as of single-family
houses. Available evidence suggests
that price trends for new single-family
housing construction are representative
of price trends for all residential
construction.6
1947 to 1963
The index chosen for this period
is the average of the 70-cities index
6. For comparisons of cost trends for various kinds of residential construction, see "Trends in Valuation per Square
Foot of Building Floor Area, 1956-1968," by John C.
Musgrave, Construction Review, November 1969.
555-443 O - 74 - 4
SUEVEY OF CURRENT BUSINESS
25
and the FHA price-per-square-foot in- classified into three broad categories of
dex. As shown in table 5, the price- structures: (1) small buildings, (2) large
per-square-foot series seems to be office buildings, and (3) all other nongenerally in accord with the Boeckh residential buildings.
The first category appeared to inindex, the special Census price measures, and the used house price calcu- corporate many of the same physical
lation from Censuses of Housing sources. specifications and construction skills
According to all expert evaluations, as residential buildings. The revised
the Boeckh index is deficient in that, residential price index was therefore
as an index of input prices, it does not selected as representing a reasonable
take into account increases in produc- approximation of price changes in this
tivity and, therefore, overstates price type of structure. For the second cateincreases. The FHA price-per-square- gory, the Turner building cost index
foot index, as noted, tends to register was selected. For the third category,
quality changes (other than size) as the judgment was that many of the
price change and is therefore not a physical specifications and skills asgood index of price change because it sociated with this type of construction
is probably biased upward. The other were roughly parallel to those that
price measures compiled by the Census characterized the construction covered
Bureau were prepared primarily for by the highway structures index of the
rough comparisons for this study and Bureau of Public Roads. These three
are not available for many years of indexes were combined with equal
weights to derive the revised deflator
the 1947-63 period.
Despite the deficiencies noted for the for nonresidential buildings.
The Turner Construction Company
70-cities index (unsatisfactory statistical
procedures, unrealistically long service is a large nationwide builder of prilives, and unrealistic increases in value- marily commercial and industrial strucadded percentages), it does represent a tures. The company's building cost
reasonable attempt to produce a fixed index (Method 1) is based, beginning
specification index. Furthermore, it in 1970, on the estimated cost, plus
originates in FHA field offices around profit, of constructing a hypothetical
the country, thereby providing reason- 40-story structural steel, finished office
ably satisfactory national coverage, and building of fixed specifications. Presis based on judgments of knowledgeable ently, cost data are derived from
cost analysts. Although this index is quarterly reports from the various
biased downward, it provides useful regional Turner purchasing offices.
information.
These reports cover current and proIn short, with all of the uncertainties jected costs of about 12 categories of
attaching to each of the indexes materials, supplemented by information
reviewed, the conclusion was that no on labor costs (from union contracts
single source could be relied upon with Turner) and on changes in other
exclusively. Thus, the two series derived costs (such as interest on construction
from FHA data were averaged.
loans). Quarterly changes in the index
are based on estimates of changes in
Nonresidential buildings
materials, labor, and other costs,
The nonresidential buildings com- weighted according to their estimated
ponent of new construction activity relative importance in January 1970:
contains a wide variety of buildings, labor, 38 percent; materials, 48 percent;
ranging from large and complex multi- other, 14 percent. In determining the
story office buildings to small and cost of the hypothetical building, the
simple gasoline service stations, with Turner officials monitor the operations
industrial buildings, schools, hospitals, and adjust the cost to take account of
churches, and a number of other types the effects of productivity changes and
of buildings in between. Satisfactory the incorporation of new materials
price index data do not exist for any and equipment.
For 1947 through 1969, the Turner
specific type of nonresidential building. As a first step in overcoming this index was based on the estimated cost
difficulty, nonresidential buildings were of constructing a hypothetical rein-
SURVEY OF CURRENT BUSINESS
26
by an operating construction company.
Since most large commercial and industrial buildings tend to be constructed
by a small number of large companies,
such as Turner, Turner's cost trends
are likely to be representative.
forced-concrete, loft type of industrial
building of 10 to 15 stories. The procedures for this period were similar to
those followed currently, but it is not
clear that the statistical methods were
as rigorous.
The Turner index is subject to the
same deficiency as the 70-cities index—
it is not based on actual prices of actual
buildings constructed. However, the
cost data that go into the Turner index
are based on actual costs experienced
Nonbuilding construction
Nonbuilding construction includes
many diverse types of private and
public construction activity. The categories of construction are deflated in
Exhibit A.—Indexes Used to Deflate New Construction, Unrevised and Revised
Type of construction
Residential buildings
(nonfarm).
Industrial buildings...
Indexes
Value of new
construction
in 1973
(millions of
dollars)
56, 852
6,421
Revised (no change prior to 1947)
Unrevised
1947-63: Boeckh residences . _
From 1963: Census single-family houses.
1947-63: Unweighted average of: 70
cities and FHA price-per-squarefoot.
From 1963: Census single-family
houses.
Turner Construction Co
Unweighted average of: Turner Construction Co. residential and Bureau
of Public Roads structures.
Same as Industrial buildings.
Commercial buildings.
16,025
Unweighted average of: George A. Fuller
Co. and American Appraisal Co.
Educational, hospital
and institutional,
religious, other nonfarm nonresident! al
buildings.
17,827
American Appraisal Co
Do.
Farm nonresidential..
1,332
U.S. Department of Agriculture service
buildings.
Do.
Farm residential.. .
488
U.S. Department of Ariculture operators'
dwellings.
Same as Residential
farm).
Railroads
488
1947-67: Interstate Commerce Commission
railroad.
From 1967: Same as Sewer systems.
From 1967: Same as All others.
1947-67: No change.
Telephone and Telegraph.
3,967
Weighted average of: Bell System indexes
for buildings and outside plant.
No change.
Electric light and
power (private) .
8,220
Weighted average of: Handy-Whitman
electric plant (90%) and utility buildings (10%).
Do.
Gas.
1,446
Weighted average of: Handy-Whitman gas
plant (90%) and utility buildings (10%).
240
Unweighted average of: Handy-Whitman
electric plant, gas plant, and utility
buildings and Interstate Commerce
Commission railroad.
1,170
Unweighted average of: American Appraisal Co., Bureau of Public Roads
composite, George A. Fuller Co., and
Turner Construction Co.
Petroleum pipelines. _
Military facilities
Highways and streets.
10,559
Bureau of Public Roads composite
buildings (non-
Interstate Commerce
pipelines.
Commission
Do.
Weighted average of: Bureau of Public
Roads composite (50%), Residential
(25%), and Turner Construction Co.
(25%).
... No change.
Sewer systems
2,454
Unweighted average of: Associated General Contractors construction and
Engineering News-Record construction.
Environmental Protection Agency
sewers and sewage treatment plant.
Water supply facilities.
1,068
Same as Sewer systems
Unweighted average of: Sewer systems
and Interstate Commerce Commission pipelines.
Conservation and
development.
2,313
do .
Bureau of Reclamation composite.
All other:
Private
Public
913
2,504
do.
.
Weighted average of: Electric light and
power (private) and^LK other private, with
weights based on relative value of expenditures for all other public construc-
Unweighted average of: Bureau of
Public Roads composite and Bureau
of Reclamation composite.
August 1974
greater detail under the new procedures
than those for residential and nonresidential buildings. This is because
price or cost indexes, which measure
construction price trends for these
categories reasonably well, are available
for specific types of nonbuilding construction. For some categories, such as
railroads, electric light and power,
telephone and telegraph, and highways
and streets, these indexes are presently
being used for deflation and are satisfactory for continued use. For other
categories, such as petroleum pipelines,
sewer systems, and conservation and
development, revised indexes are considered to be improvements over the
unrevised indexes. The revised indexes
are believed to be superior because
they are based on prices of component
operations used in the construction of
comparable structures or they are
based on prices of more comprehensive
and more relevant composites of inputs.
The unrevised indexes were based on
input costs.
Railroads
The Interstate Commerce Commission (ICC) railroad index was used
through 1967. Since this index was
discontinued in 1968, railroad construction from that year on is deflated
with the price index for other nonbuilding construction, which is an
average of the Bureau of Public Roads
composite index and the Bureau of
Reclamation composite index.
The ICC railroad index (Method 3)
was based on costs for highly specified
components of construction as reported
by the railroads to the ICC. This was
supplemented by additional information
on labor and materials costs obtained
from carriers and trade publications.
The index was a weighted average of 31
separate indexes for important individual operations. Separate indexes
covering operations such as grading,
tunnel excavating, bridge building,
ballast hauling, and tract laying and
surfacing were prepared largely from
analyses of major construction contracts
covering a period of more than 30
years. The indexes for materials—such
as ties, rails, other track material,
ballast, and fences—were based on
studies of carriers' reports to the ICC,
August 1974
joint studies made with various railroad
committees, engineering and trade publications, contracts covering major construction projects over a period of 30
years, and information furnished by
individual carriers.
Telephone and telegraph
A weighted average of Bell
System Telephone Plant (Bell) indexes
for buildings and outside plant, with
weights proportionate to the annual
values of expenditures for these types
of construction is used.
The Bell index for buildings (Method
3) is based on detailed labor, materials,
and machinery and equipment cost
data. The outside plant index (Method
3) is based on the cost of pole lines,
aerial cable, underground cable, buried
cable, submarine cable, aerial wire, and
underground conduit. The Bell indexes
are fixed-weight indexes using 1957-59
weights based on analyses of Bell
construction projects. Labor costs are
adjusted annually to compensate for
productivity changes.
Electric light and power
A weighted average of the
Handy-Whitman indexes for electric
plant (90 percent) and utility buildings
(10 percent) is used. The specified
weights are based on value-put-in-place
proportions for these types of construction.
The
Handy-Whitman
indexes
(Method 3) are based on the cost of
the inputs used in constructing electric
light and power plants and utility
buildings. The indexes consist of weighted averages of labor, materials, and
mechanical and electrical equipment
costs. Labor costs are based on wage
rate information from the Bureau of
Labor Statistics (BLS), labor unions,
and industry sources. Materials costs
are based on BLS wholesale price
indexes and reports in publications,
such as Engineering News-Record. Mechanical and electrical equipment prices
are obtained from manufacturers of
SUEVEY OF CUEEENT BUSINESS
these products. The labor, materials,
and equipment costs are aggregated by
their 1950 weights.
Gas
The ICC pipeline index is used,
since gas and petroleum pipelines are
similar in construction.
Petroleum pipelines
The ICC pipeline index (Methods 2 and 3), for this category, is based
on price data for components of pipeline construction reported to the ICC by
pipeline companies, supplemented by
price data from suppliers and manufacturers of construction materials and
equipment. These data are combined
with 1947 weights.
Military
The revised deflator is a weighted
average of the residential deflator (25
percent), the Turner index (25 percent),
and the Bureau of Public Eoads composite index (50 percent). The weights
are the estimated value of each of the
kinds of construction represented in
military facilities.
Highways and streets
The Bureau of Public Eoads
(BPE) composite index is used.
The BPE index (Method 2) is an
index of the price of constructing a
"composite mile" of road of constant
specifications for Federal aid highway
projects. It is based on BPE field office
reports on Federal aid highway contract
awards and consists of quantities,
contract unit prices, and total costs for
about 30 major bid items. From the 30
items, BPE selected 6 as representative
of the cost of a group of items. Common
excavation was selected as an indicator
for grading costs, Portland cement
concrete and bituminous concrete for
surfacing costs, and reinforcing steel,
structural steel, and structural concrete
for structures costs. Quantities are determined for constructing a mile of
highway in the base period (1967). The
27
composite index for any period is
computed by summing the average unit
prices reported in contract awards in
that period times the base-period quantities. This figure is then divided by the
base-period costs for the composite
mile.
Sewer systems
An average of the Environmental
Protection Agency (EPA) indexes for
sewers and sewage treatment facilities
is used for this category. The EPA indexes (Method 3) are based on weighted
averages of detailed labor, materials,
and machinery and equipment costs in
20 cities. These costs are derived from
union wage rates published in Engineering News-Record and BLS wholesale
price indexes for construction materials
and machinery and equipment. Fixed
weights are used to combine labor,
materials, and machinery and equipment costs. The weights are determined from analysis of 733 contract
awards for sewer project and sewage
treatment plants during the period
1956 through 1962.
Water supply facilities
A simple average of the sewer
systems deflator and the petroleum
pipelines deflator is used.
Conservation and development
The Bureau of Eeclamation
(BE) quarterly composite index of
dams and reclamation projects (Methods 2 and 3), which is used for this
category, represents the bulk of conservation and development construction. It is a hybrid of actual and bid
prices for specific operations and input
prices. About 25 different categories of
work are estimated quarterly for aggregation to an overall index with
weights based on 1949-51 information.
Other nonbuilding construction
A simple average of the deflators
for highways and streets and for conservation and development is used.
Per Capita Personal Income, 1973
$4,082
$5.273
$5,271 P L A I N S
03
§
O
OUTHEAST,
UNITED STATES $5,041
H
tz{
H
W
SOUTH WEST
^H Over $5,400
$4,800-$5,399
I
I $4,200-$4,799
I
| Under $4,199
CO
$5'324
$5,212
$4 670
'
U.S. Department of Commerce, Bureau of Economic Analysis
United
States
Mideast
^ Far
'West
Great
Lakes
$4,505
New
Plains Rocky SouthEngland
Mountain west
Southeast
State and Regional Personal Income, 1958-73
J. HIS report presents revised estimates
of annual regional and State total and
per capita personal income for 1958-73.
These estimates replace those published
in the April 1974 and earlier issues of the
SURVEY OF CURRENT BUSINESS. The
revisions in this issue result from:
incorporation of revised national totals,
a more detailed set of estimates for
covered wages and salaries in the construction and trade industries, introduction of improved wage and salary
data provided by the Association of
American Railroads for Class I and II
railroads, use of more detailed industry
estimates of nonfarm proprietors7 income, and refinement of the residenceadjustment procedure.
Estimates of total and per capita
income for alternate years 1948-56
and for all years 1958-73 are shown in
tables 1 and 2. Estimates for 1929, 1940,
and all years 1948-57 can be found in
the April 1969 SURVEY, pages 22 and 26.
Tables 4-63 are shown here for 1971-73;
tables for 1958-70 are available from
the Regional Economic Measurement
Division, Bureau of Economic Analysis,
U.S. Department of Commerce; Washington, D.C., 20230.
Income
measurements—place
work and place of residence
Personal income consists of private
and government wage, salary, and other
labor income payments, farm and nonfarm proprietors' income, interest, rent,
royalties, dividends, and transfer payments, less personal contributions for
social insurance. It is measured before
deduction of taxes on personal income
and other personal taxes.
Per capita personal income is total
personal income divided by total population. Total and per capita personal
income are measured in current dollars
(that is, no "correction" is made for
price changes).
The personal income components
shown in tables 4-63 are designed to
provide both a place-of-work and a
place-of-residence view of regional economic activity.
Income can be measured either by
place of work or by place of residence of
the recipients. In most cases, both are
State estimates of total personal income and per capita personal income are presented
in tables 1 and 2 as in previous issues of the SURVEY OF CURRENT BUSINESS. Tables 63,
Bioad Industrial Sources of Personal Income by States and Regions, and 70, Industrial
Sources of Civilian Income Received by Persons for Participation in Current Production
by States and Regions, have been discontinued; the content and format of tables 4-62A,
Personal Income by Major Sources, have been changed and are now presented in
tables 4-63.
In tables 4-63, Labor and proprietors' income by industry replaces Wage and salary
disbursements by industry. The former series is a more comprehensive measure of industrial
activity than the latter, because, in addition to wages and salaries, it includes other labor
income and proprietors' income.
Wage and salary disbursements by industry were previously published by State of
residence. Here the industry detail for labor and proprietors' income is presented by place
of work, and total labor and proprietors' income net of personal contributions is adjusted
to a place-of-residence basis where it forms a part of the personal income estimate.
of
in the same State. However, a significant amount of income is earned in one
State, but is received in another.
For two reasons, personal income has
long been measured by place of residence. First, the major initial uses of
personal income were as indicators of
consumer markets. Second, although
labor and proprietors' income (which,
on a net residence basis, accounted, in
1973, for 75 percent of total personal
income) can be measured on either a
place-of-work or a place-of-residence
basis, it would be impossible to trace the
geographic origin of the other major
components of personal income (dividends, interest, rent, and transfer payments). The fact that this substantial
portion of personal income (25 percent
in 1973) can be measured only on a
placerof-residence basis precludes measuring total personal income by place of
work. Accordingly, total and per capita
personal income are measured on a
place-of-residence basis as shown in
tables 1 and 2.
However, questions concerning the
industrial composition and economic
growth potential of a State, its sources
of income, and so on, require measures
NOTE.—State and regional income estimates
were prepared in the Regional Economic
Measurement Division under the direction of
Lowell D. Ashby. Staff members participating
were Wallace Bailey, Jr., Kenneth Berkman,
Joan Bolyard, Robert Brown, Michael Carroll,
Vivian Conklin, Francis Dallavalle, Fredric
Gatlin, Linnea Hazen, Eunice James, Raymond Leach, Gordon Lester, Jr., Myles
Levin, Richard McCarthy, Judith Meckley,
Alan Millican, Susan Mullaney, Elizabeth
Queen, William Reid, Jr., Katharine Richardson, Victor Sahadachny, Rodney Thorn, and
John Wells. Robert B. Bretzfelder, of the
Regional Economic Analysis Division, prepared the discussion of the estimates.
29
30
SURVEY OF CURRENT BUSINESS
of the output of industries in the State. 4-63, which shows labor and proprieAt present, the best proxy available for tors' income by place of work, first by
industry output at the State level is type of income and second by industry.
provided by measures of appropriate The lower portion of each table shows
components of personal income by the derivation of personal income by
place of work. Such measures are pre- place of residence for the corresponding
sented in the upper portion of tables region or State.
State and Regional Income, 1973
Personal income
Personal income in the Nation rose
11% percent last year. Gains of from
7% percent to nearly 40 percent were
registered in the eight regions and 50
States (see text table). Consumer prices
rose about 6 percent nationally; thus,
total real purchasing power probably
increased in all regions and States.
Areas with large gains
Unusually large gains in total personal income (in current dollars) in
two of the three fast-growing regions
and in 11 of the 14 fast-growing States
are directly traceable to spurts in farm
income, which not only increased rapidly in these areas, but constituted a
very important source of income in
each. For the Nation as a whole, farm
income rose 73 percent, or $18 billion.
This directly accounted for 16 percent
of the gain in total personal income,
even though farm income constituted
only 2% percent of the national total
in 1972. In the Plains, farm income,
which accounted for 9% percent of the
region's total income in 1972, rose 104
percent from 1972 to 1973 and accounted for 53 percent of the rise in
total income. In the Southwest, farm
income, which accounted for slightly
more than 3K percent of the 1972
regional total income, rose 94 percent
from 1972 to 1973 and accounted for
25 percent of the total rise. In each
region, the large rise in farm income
helped to increase activity in localservice industries; in particular, advances in the transportation-communications-public utilities group were well
above the national average.
In the Rocky Mountain region, nonfarm as well as farm income contributed
significantly to the large income gain.
Gains in mining (both coal and petroleum), manufacturing, and government
payrolls were large.
Among the States, the largest income
gains (ranging from nearly 40 percent
to 15 percent) were recorded, in order
of diminishing rates of gain, by North
Dakota, South Dakota, Iowa, Idaho,
Arkansas, Nebraska, Minnesota, Kansas, Florida, Montana, Alaska, Arizona,
Indiana, and Oklahoma. In 11 of these
14 States (that is, excluding Florida,
Alaska, and Arizona), unusually large
increases were primarily due to gains in
farm income of from 45 percent to 160
percent.
In Alaska, a new program to settle
native Alaskan land claims against the
U.S. Government was implemented. This
more than doubled transfer payments
and accounted for over 50 percent of
the income gain. In Florida and Arizona, construction advanced markedly
in all three States, there were especially
large gains in manufacturing and most
major service industries. In total, the
gains in nonfarm income in these three
States ranged from 14% percent to
15% percent—by far the largest in the
Nation.
Areas with small gains
Weakness in Federal Government
military payrolls, manufacturing (especially nondurable goods) and, to a
lesser degree, construction, trade, and
the finance-insurance-real estate group
was responsible for the slow growth in
the areas that showed the smallest
gains. Agriculture is of minor im-
August 1974
portance and had little economic effect
in these areas.
In New England and in the Mideast,
construction and manufacturing payrolls expanded at rates well below
average, with weakness especially noticeable in nondurable goods. In New
England, Federal military payrolls were
off, while in the Nation they increased.
In the Mideast, income in the important
finance-insurance-real estate group rose
only slightly.
Table A.—Total and Farm Income
Rank
United States
Percent change, 1972-73 Farm
Personal income
as a
percentage
Non- of total
Total Farm
farm income,
1972
11.7
73.3
10.0
2.6
39.3
26.1
23.0
21.3
19. S
19.5
18.9
17.5
15.6
15.5
15.4
15.1
14.9
14.4
143.8
78.6
100.9
111.2
94.7
80.4
157.7
82.6
25.4
44.5
37.0
38.3
158.7
108.0
9.2
10.2
10.2
11.9
11.5
9.3
10.4
9.6
15.4
10.1
15.3
14.4
11.0
9.8
22.4
23.2
14.2
9.5
10.0
14.4
5.8
10.8
2.4
15.6
.1
2.8
2.7
4.7
3.5
2.9
1.8
4.3
8.4
3.4
4.0
2.6
3.5
3.1
8.1
1.4
4.8
3.4
States
1 North Dakota
2 South Dakota
3 Iowa
4 Idaho.
5 Arkansas. . .
6 Nebraska
7 Minnesota
8 Kansas
9 Florida . .
10 Montana
11 Alaska
12 Arizona
13 Indiana _
14 Oklahoma
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
Texas
Oregon
Nevada
New Mexico.
Mississippi.. .
Colorado
Missouri
South Carolina- -.
Washington
Georgia
Wyoming
Virginia
Kentucky
Wisconsin
New Hampshire.
Alabama
Tennessee
North Carolina ...
Michigan
Utah
Illinois
Delaware
Maine
Ohio
Louisiana
Hawaii
. .
Vermont
13.7
13.4
13.4
12.8
12.8
12.7
12.6
12.5
12.4
12.3
12.2
12.2
12.2
12.1
12.1
12.0
11.9
11.8
11.8
11.7
11.7
11.6
11.6
11.1
11.0
10.9
10.4
101.2
82.9
39.6
60.8
27.1
-4.5
92.9
42.4
56.8
64.2
2.8
47.7
25.1
38.5
19.9
35.5
43.2
47.6
33.5
43.3
120.0
67.2
106.6
57.3
71.1
28.2
22.9
10.6
11.3
12.9
10.6
11.5
13.3
9.3
11.7
10.8
10.7
13.0
11.7
11.5
11.1
12.1
11.1
11.1
10.2
11.6
11.0
9.3
10.4
9.5
10.6
9.0
10.4
9.9
3i 4
2.5
4.2
1.0
2.2
2.1
2.2
2.2
1.1
3.3
2.5
4.1
42
43
44
45
46
47
48
Maryland
Pennsylvania
California .
Connecticut
West Virginia.. -.
Massachusetts
New Jersey
District of Columbia
Rhode Island
New York .
10.0
9.8
9.5
9.5
9.3
9.3
8.8
52.5
57.9
35.3
12.4
60.0
22.2
45.8
9.7
9.5
8.9
9.5
9.0
9.2
8.8
.7
.6
2.3
.4
.4
.2
.2
7.9
7.7 "-7.T
53.2
7.5
7.9
7.7
7.4
~2
.4
49
50
Regions
1 Plains
2 Rocky Mountain .
3 Southwest
4
5
6
Southeast
Great Lakes
Far West
7
8
New England
Mideast
18.7
13.9
13.9
103.8
40.2
94.1
9.8
12.3
10.9
9.5
5.8
3.6
12.9
12.0
10.2
47.8
90.6
43.1
11.7
10.5
9.4
3.4
1.8
2.4
9.6
8.6
41.2
55.1
9.4
8.4
.6
.5
August 1974
SURVEY OF CURRENT BUSINESS
Among the slow-growing States, per- all slow-growing States, except in Consonal income increased from 7% percent necticut (where they equaled the nato 10 percent in the District of Colum- tional average) and in Rhode Island
bia and in nine States. In ascending and California (where they were only a
order, they were: New York, Rhode little below average). This weakness
Island, the District of Columbia, New played a key role in New Jersey and
Jersey, Massachusetts, West Virginia, New York. Mining payrolls were weak
Connecticut, California, Pennsylvania, in West Virginia and Maryland. Gains
and Maryland.
in most local-service industries were
Weaknesses in most of these 10 areas below average in six of the nine slowextended to both the activities that growing States and in the District and
are largely stimulated by demand com- only average in the remaining three.
ing from outside the area (export or
basic) and to those that are internally Per capita personal income
responsive (residentiary or local-servThe 1972-73 increase in per capita
ice). Among the basic sources of income, income in the Nation was 10% percent, a
Federal Government military payrolls gain well above the approximate 6 perwere either off or the gains were below cent advance in consumer prices. The
average in seven of the 10 areas. In gain in current-dollar per capita inparticular, Rhode Island, Massachucome in each of the eight regions and in
setts, New Jersey, West Virginia, and
the District of Columbia experienced 48 of the 50 States was at least 2
sharp drops, in most cases resulting from percentage points above the gain in
military base closings or personnel consumer prices; in Hawaii and Rhode
reductions. Manufacturing payrolls rose Island, it was slightly over 1 percent.
Per capita income from 1972 to
much less than the national average in
31
1973 rose between 38 percent and 13
percent in 12 States. They were, in
descending order: North Dakota, South
Dakota, Iowa, Idaho, Nebraska, Minnesota, Arkansas, Kansas, Montana,
Indiana, Alaska, and Oklahoma. In all
States, except Indiana, a spurt in
income, combined with a near-average
gain in population, led to the sharp rise
in average income. In Indiana, income
was also up substantially, while the gain
in population was below average.
Gains in per capita income of from
7 percent to 9 percent took place, in
ascending order, in: Rhode Island,
Hawaii, New York, California, New
Jersey, Utah, the District of Columbia,
and Massachusetts. In all of these areas,
except Utah, the gains in both total
income and population were well below
the national averages. In Utah, total
income rose about as much as it did in
the United States, but the population
gain was more than triple that in the
Nation.
August 1974
SUEVEY OF CUEKENT BUSINESS
32
Table 1.—Total Personal Income, by States and Regions, Selected Years 1
[Millions of dollars]
Line
State and region
1
United Slates
2
New England. .
3
4
5
6
7
8
9
10
11
12
13
14
15
Illinois
Indiana
Michigan
Ohio
Wisconsin
22
30
31
32
33
34
35
36
37
38
39
40
41
42
43
15,521
5,624
9,691
12, 269
4,701
.
4,042
2,523
4,106
5,338
1,909
813
916
Southeast
_
..
_
. . .
....
48
Rocky Mountain
3,779
1,087
7,654
704
1,262
425
4,710
1,291
8,675
833
1,446
496
1962'
1963'
1964'
1965'
1966'
1967'
1968'
1969'
5,160 6,029 6,398 6,500 6,855 7,194 7,522 8,098 8,543 9,103 9,857 10,804 11,845 12, 862 14, 067
1,314 1,534 1,583 1,670 1,740 1,834 1,850 1,920 1,969 2,140 2,310 2,479 2,602 2,819 3,043
9,293 10, 497 11, 074 11, 405 12, 131 12,708 13, 266 13, 949 14, 571 15, 455 16, 491 17, 783 19, 287 21,045 22, 931
915 1,035 1,102 1,077 1,178 1,241 1,308 1,405 1,479 1,584 1,726 1,916 2,109 2,336 2,561
1,523 1,674 1,701 1,748 1,841 1,890 1,963 2,102 2,201 2,347 2,512 2,746 2,998 3,288 3,486
850
741
727
779
798
937 1,063 1,146 1,266 1,377
683
619
636
526
598
15,948 18, 608 19,933 23,024 24, 056 24, 358 25,850 26, 717 27,563
5,998 7,326 7,653 8,875 9,187 9,081 9,704 10, 162 10, 455
10, 895 13, 050 14, 354 16, 529 16, 870 16,644 17, 717 18, 419 18, 396
12,930 15, 942 17, 397 19, 992 20, 959 20,602 22, 066 22, 822 23, 082
5,078 6,093 6,212 7,211 7,547 7,766 8,413 8,665 8,931
3,897
2,765
4,227
5,672
1,978
782
814
4,338
3,524
4,823
6,576
2,187
740
828
4,525
3, 597
5,202
6,974
2,253
766
916
4,580
3,804
5,778
7,844
2,274
881
914
5,077
4,006
6,135
8,053
2,615
905
1,068
5,186
4,483
6,462
8,389
2,722
1,057
1,094
2,571
1,597
3,043
3,154
2,788
2,679
1,639
3,732
1,779
3,037
3,624
2,126
2,691
1,575
3,599
3,574
2,881
3,021
1,643
4,219
1,886
3,295
4,070
2,136
3,287
1,823
4,554
4,447
3,587
3,636
1,907
4,851
2,527
3,810
5,150
2,462
3,314
1, 810
5,328
4,536
3,692
3,881
1,875
5,120
2,434
4,105
5,338
2,347
4,005
2,035
6,972
5,350
4,107
4,647
2,141
5,935
2,697
4,671
6,084
2,768
4,503
2,230
8,444
5,783
4,412
5,084
2,382
6,335
2,918
5,087
6,680
2,868
4,261
2,091
7,730
5,531
4,291
5,028
2,172
5,980
2,810
4,872
6,349
2,967
1,747
2,855
10, 677
22,492
59, 497
32, 271
1,851
2,971
11, 733
24,280
63,734
35,048
1,961
3,143
12, 668
26, 206
68, 545
37, 518
2,144
3,341
14, 180
28, 612
74,828
40,456
2,353
3,452
15,643
31, 194
80,728
43,663
29,063
11,163
19, 737
24, 378
9,461
30,293
11, 786
21,184
25, 419
9,745
32, 282
12, 560
23, 235
27,068
10, 533
35, 199
13, 984
26, 077
29, 480
11,466
38,408
15, 170
28, 401
32, 377
12, 551
40, 691
15, 932
29,809
33,981
13,266
43,725
17,327
33, 021
37, 289
14,382
47,353
18,956
36,057
40,620
15, 507
5,317
4,528
6,693
8, 911
2,775
983
988
5,474
4,727
7,104
9,154
2,994
1,110
1,224
5,742
4,934
7,438
9,464
3,047
992
1,232
5,994 6, 356 6,644 7,560 8,298 8,489 9,117 9,860
5,152 5,281 5,514 5,960 6,506 6,811 7,396 7,989
7,796 8,245 8,549 9,462 10, 291 11,057 12, 118 13,427
9,969 10,504 11, 141 12, 139 13,064 14,026 15, 312 16,377
3,275 3,342 3,480 3,849 4, 240 4,398 4,659 5,271
1,396 1,317 1,310 1,540 1,596 1,639 1,697 1,901
1,396 1,338 1,305 1,506 1,656 1,710 1,863 1,962
4,776
2,443
9,306
6,238
4,663
5,364
2,614
6,827
3,168
5,477
7,136
2,965
4,985 5,132 5,388 5,770 6,237 6,840 7,383 7,814 8,546 9,360
2,484 2,698 2,893 3,101 3,388 3,579 3,991 4,227 4,605 5,019
9,746 10, 276 11,084 11,912 13,054 14,299 15, 789 17,586 20,019 22, 877
6,525 6,776 7,305 7,924 8,629 9,506 10,547 11, 480 12,758 14,337
4,800 5,139 5,447 5,767 6,016 6,580 7,226 7,765 8,540 9,255
5,438 5,622 5,958 6,350 6,850 7,461 8,334 9,116 9,968 10, 479
2,666 2,860 3,007 3,327 3,457 3,783 4,161 4,480 4,909 5,330
7,247 7,691 8,274 8,744 9,434 10, 226* 11, 459 12,460 13, 741 15, 200
3,326 3,507 3,772 3,982 4,307 4,752 5,361 5,809 6,463 7,112
5,615 5,979 6,348 6,736 7,231 7,991 8,794 9,429 10,369 11,406
7,426 7,868 8,537 9,099 10, 029 10, 870 11, 859 12,960 14,353 15,733
3,004 3,048 3,151 3,296 3,524 3,763 4,026 4,295 4,543 4,839
879 1,006 1,399 1,514 1,861 2,028 2,218 2,448 2,669 2,902 3,158 3,353 3,521 3,756 4,097 4,516 5,077 5,811
655
811 1,004 1,077 1,284 1,442 1,598 1,739 1,774 1,844 1,941 1,998 2,075 2,236 2,338 2,445 2,629 2,876
2,390 2,547 3,087 3,193 3, 591 3,744 4,037 4,194 4,390 4,598 4,737 4,937 5,280 5,711 6,195 6,751 7,322 7,928
9,142 10,486 12,837 13,504 15, 472 16,538 17, 135 18,049 18, 627 19, 624 20,630 21, 694 23,162 25, 016 27,643 30, 211 33,485 36,896
.„
Colorado
Idaho
Montana
Utah
Wyoming
, , ..
. .
4,651
5,092
6,168
6,244
7,339
7,893
8,265
8,720
9,173
9,690 10,414 10,729 11,097 11,928 12,683 13,477 14,687 16,257
1,810
725
876
810
429
1,970
764
962
911
484
2,498
932
1,075
1,116
547
2,566
902
1,079
1,165
533
3,066
1,047
1,241
1,381
605
3,365
1,104
1,297
1,482
645
3,517
1,162
1,361
1,553
673
3,756
1,229
1,341
1,680
714
4,008
1,246
1,382
1,784
753
4,304
1,315
1,370
1,922
780
4,537
1,416
1,583
2,078
800
4,726
1,421
1,588
2,172
821
4,968
1,464
1,592
2,237
835
5,286
1,681
1,724
2,373
865
5,702
1,687
1,873
2,518
903
6,138
1,800
1,925
2,670
944
6,863
1,899
2,036
2,878
1,009
7,650
2,164
2,203
3,114
1,125
23,802 26,578 33,317 36,197 42,807 45,499 47,601 52,007 54,465 57,769 62,078 66,214 71,064 75,920 82,738 89,084 98,036 106,588
Far West
. . .
_ .
17,633 19,774 25, 214 27,682 33,177 35,497 37, 270 40, 941 42, 992 45, 747 49, 050 52, 608 56, 694 60, 420 65,459 70,446 77,441 83,952
755
327
440
519
625
693
816
283
898 1,105 1,238 1,331 1,419 1,498 1,572 1,788 2,050
673
2,278 2,482 2,966 2,961 3,422 3,416 3,513 3,777 3,927 4,039 4,281 4,548 4,885 5,321 5,754 6,083 6,611 7,274
3,608 3,995 4,697 5,035 5,583 5,912 6,124 6,535 6,731 7,085 7,641 7,819 8,154 8,760 10, 026 10,983 12,196 13,312
723
S22
692
494
866
05
908
548
1,041
5S7
1,114
527
1,180
ADDENDA
61
62
63
64
65
66
67
68
69
1961'
13,065 14,850 18,327 19,288 22,209 23,751 24,998 26,430 27,460 28,967 30,466 31,982 34,038 36,720 40,274 43,923 48,512 53,511
Southwest
Alaska
Hawaii
I960'
31,769 34,589 42,042 43,779 51,312 54,082 56,727 60,977 63,261 66,597 71,165 76,009 82,155 89,650 98,930 107,419 118,813 130,946
Alabama.. ..
Arkansas
Florida
Georgia
Kentucky
Louisiana
Mississippi
North Carolina
South Carolina
Tennessee
Virginia
West Virginia
59
60
1959'
19, 647 20, 134 23,016 24,233 26,075 27,858 29,392 30, 196 31, 786 32,849 34, 978 36,382 37, 943 42,015 45, 651 48, 131 52,162 56,787
lo-Aa
Kansas
Minnesota
Missouri
Nebraska
North Dakota
South Dakota
California
Nevada
Oregon
Washington
1958'
1957
684
782
537
857 1,124 1,125 1,131 1,205 1,252 1,289 1,372 1,481 1,596
1,644 1,790 1,978 1,917 2,019 2,061 2,060 2,178 2,266 2,324 2,467 2,581 2,717
3,331 3,772 4,721 5,069 5,976 6,314 6,576 6,975 7,292 7,826 8,393 8,980 9,761
8,063 8,934 10, 934 11, 957 13, 719 14,550 14,885 15, 946 16, 651 17, 476 18, 622 19, 602 20,830
26, 051 27, 841 31, 396 34, 275 38,608 40, 818 41, 453 44, 169 46, 162 47, 860 50, 568 52, 616 55, 989
14, 716 16, 189 18, 617 19, 515 22,295 23,414 23,688 24, 908 25, 681 26,034 27, 164 28, 199 30, 225
Plains
55
56
57
58
1956
47,805 50,849 61,019 65,547 75,631 78,618 78,451 83, 750 86, 785 88,427 93,803 98,427 105,678 116,206 126,907 133,678 145,744 158,494
Arizona
New Mexico
Oklahoma
Texas
54
1954
54, 343 59,211 68,428 73,590 83,740 88,282 89,792 95,382 99,304 102,809 108,586 113,458 121, 118 129, 539 139, 617 150,041 163,562 177,032
44
45
46
47
49
50
61
52
53
3,450
1,084
7,012
668
1,175
407
Delaware
District of Columbia .
Maryland
New Jersey
New York
Pennsylvania
Great Lakes
1952
13,796 14,911 17,453 18, 729 21,366 22,477 23,036 24,428 25,594 26,651 28,253 29,562 31,479 33,834 36,791 39,986 43,617 47,466
Mideast
17
18
19
20
21
1950
208,876 226,214 269,769 287, 607 330,479 348,460 358,252 381,890 399,947 415, 984 442,078 465,234 497,268 538,690 586,736 629,204 688, 978 751,425
Connecticut. __
Maine
Massachusetts
New Hampshire
Rhode Island
Vermont
16
23
24
25
26
27
28
29
1948
New England
Middle Atlantic
East North Central
West North Central
South Atlantic
East South Central
West South Central
Mountain
Pacific
643
1,476
629
1,595
660
1,675
703
1,768
791
1,904
853
2,025
921
2,225
1,024
2,440
1,115
2,731
1,257
3,087
Personal Income, by Census Regions
13,796
48,830
47, 805
19,647
22, 970
10,036
15, 807
6,467
23,519
14, 911
52,964
50,849
20, 134
25, 730
10, 510
17, 629
7,235
26, 251
17,453
60, 947
61, 019
23, 016
31,472
12, 592
21,382
9,011
32,877
18,729
65, 747
65,547
24,233
32,944
12, 986
22,388
9,355
35, 678
21,366
74,622
75,631
26, 075
38,924
14, 924 i
25,645
11,110
42,182
22,477
78,782
78, 618 !
27,858
40,867
15,596;
27,401
12, 036 j
44, 826 j
r
Revised. State estimates of personal income 1958-73 were revised to reflect revised national
totals and several improved data series. Also for 1958-73, see note 2 on tables 4-63.
1. Due to lack of space, estimates for 1949,1951,1953, and 1955 are omitted. These estimates
660
1,816
23,036
80,025
78,451
29,392
42,795
16,385
28,486
12,774
46,908
24,428 25,594
85, 024 | 88,494
83,750 86, 785
30, 196 31, 786
45, 998 I 48,084
17,530 18,065
30,049 30,939
13,662 14, 432
51, 252 55,768
26,651
91, 370
88,427
32,849
50,606
19,109
32,542
15, 334
59,095
28,253 29,562 31, 479 33,834 36, 791 39,986 43,617 47,466
96, 354 100, 416 107, 045 114, 260 123,062 132, 269 143, 897 ! 155, 585
93.803 98,427 105,678 116,206 126,907 133,678 145, 744 158, 494
34,978 36,382 37,943 42, 015 45, 651 48, 131 52, 162 i 56,787
54,356 57,999 63,051 68,695 75, 596 82, 362 91,543 1 101, 546
20,191! 21,600 ! 22,941 25, 194 27,664 29,487 32,363 35,350
34,218 36,083 38,680 ! 41, 767 1 46, 165 50,305 55,380 60,321
16,618 17,318 18,023 : 19,339 20,616 22, 010 24,179 26 993
63, 308 j 67,446 72,42* 77,380 84,386 90, 976 100,095 108,882
are available in the April 1969 SURVEY OF CURRENT BUSINESS, pages 22 and 26.
Table 3, the related July 1 population as estimated by the Bureau of the Census, is not
)le in printout
presented here, but is available
printou'"form on request: see address on page 29.
SURVEY OF CURRENT BUSINESS
August 1974
33
Table 2.—^Per Capita Personal Income, by States and Regions Selected Years l
[Millions of dollars]
1970'
1971'
1972'
[Dollars]
1973'
1948
1950
1952
1954
1956
1957
1958' 1959' I960' 1961' 1962' 1963' 1964' 1965' 1966' 1967' 1968' 1969' 1970' 1971' 1972' 1973' Line
808,223 864,989 947,066 1057,825 1,430 1,496 1,733 1,785 1,975 2,045 2,067 2,166 2,222 2,274 2,381 2,469 2,603 2,785 3,001 3,188 3,457 3,733 3,966 4,195 4,549 5,041
1
2
51,097
53,808
57,789
63,326
1,494 1,601 1,865 1,905 2,152 2,241 2,254 2,340 2,430 2,499 2,616 2,691 2,814 2,986 3,219 3,458 3,748 4,045 4,304 4,479 4,774 5,212
14, 960
3,292
24, 775
2,816
3,766
1,487
15, 546
3,438
26, 187
3,015
4,018
1,604
16, 674
3, 759
27, 967
3,312
4,374
1,703
18,265
4,196
30, 561
3,713
4,710
1,881
1,713
1,235
1,500
1,284
1,493
1,133
190, 140 202,467 218,200 237,046
2,490
3,718
17, 126
33, 853
86,040
46, 913
2,726
4,033
18, 437
36, 392
91, 047
49, 832
3,328
2,982
4,728
4,382
20, 307 22,339
39, 529 43, 026
96, 891 104, 198
54, 110 59, 427
166, 696 178,558 194,401 217,721
1,875
1,186
1,633
1,323
1,605
1,121
2,263
1,411
1,866
1,557
1,804
1,324
2,294
1,417
1,893
1,651
1,866
1,395
2,603
1,635
2,14b
1,829
1,993
1,586
2,712
1,679
2,247
1,927
1,998
1,647
2,657
1,789
2,276
1, 854
2,037
1,674
2,828
1,881
2,463
2,037
2,210
1,868
2,717
1,818
2,371
1,977
2,148
1,765
2,909
1,860
2,542
2,117
2,288
1,899
3, 059
1,932
2,650
2,222
2,414
1,983
3,133
1,983
2,727
2,279
2,513
2,011
3,253
2,155
2,837
2,389
2,652
2,131
3,450
2,317
2,997
2,553
2,814
2,320
3,722
2,481
3,213
2,813
3,054
2,575
4,036
2,591
3,448
3,025
3,299
2,710
4,340
2,836
3,746
3,294
3,567
2,944
4,689
3,068
4,059
3,537
3,741
3,152
4,923
3,309
4,347
3,795
3,960
3,328
5,067
3,397
4,545
3,978
4,190
3,533
5,414
3,664
4,825
4,279
4, 513
3,703
5,938
4,082
5,253
4,694
4,841
4,054
1,648 1,756 1,985 2,054 2,283 2,378 2,380 2,497 2,573 2,627 2,745 2,831 2,987 3,158 3,376 3,605 3,901 4,204 4,473 4,722 5,075 5,523
1,720
1,958
1,467
1,689
1,797
1,431
2,132
2,221
1,602
1,834
1,873
1,541
2,293
2,457
1,888
2,134
2,067
1,773
2,328
2,423
1,888
2,231
2,167
1,804
2,754
2,660
2,126
2,443
2,396
2,032
2,641
2,701
2,198
2,536
2, 493
2,137
2,611
2,721
2,205
2,527
2,497
2,142
2,733
2,862
2,275
2,651
2,647
2,217
2,788
2,963
2,342
2,728
2, 742
2,267
2,797
2,987
2,464
2,789
2,805
2,285
2,926
3,131
2,572
2,921
2,923
2,392
3,067
3,234
2,652
3,001
3,013
2,468
3,211
3,404
2,795
3,128
3,183
2,624
3,446
3,582
2,966
3,324
3,355
2,777
3,588
3,756
3,175
3,544
3,572
3,005
3,735
3,974
3,372
3,783
3,822
3,212
4,016
4,295
3,717
4,085
4,145
3,446
4,357
4,530
4,044
4,397
4,459
3,719
4,527
4,938
4,350
4,705
4,712
3,970
3
4
5
6
7
8
9
5,778
6,337
5,489
5,845
5,705
4,993
10
11
12
13
14
15
1,602 1,666 1,937 1,983 2,198 2,248 2,205 2,331 2,391 2,415 2,540 2,635 2,791 3,026 3,258 3,397 3,676 3,972 4,130 4,394 4,766 5,324
16
1,815
1,451
1,560
1,558
1,418
5,770
4,987
5,551
5,076
4,750
17
18
19
20
21
1,825
1,512
1,701
1,620
1,477
2,154
1,795
2,031
1,961
1,722
2,464
1,981
2,171
2,146
2,021
2,589
2,104
2,281
2,282
2,162
2,721
2,210
2,331
2,342
2,228
2,827
2,357
2,488
2,455
2,337
3, 051
2,587
2,838
2,685
2,529
3,292
2,841
3,120
2,890
2,709
3,544
3,035
3,337
3,134
2,937
3,717
3,153
3,454
3,263
3,083
3,977
3,402
3,797
3,546
3,310
4,290
3,686
4,106
3,846
3, 542
4,504
3,768
4,175
4,011
3,809
4,876
5,357
4,601
4,982
4,962
4,187
5,222
5,827
5,017
5,379
5,275
4,545
50, 158
19, 625
37, 160
42, 8f9
16,885
53, 763
21,243
40, 313
45, 423
17, 817
58,040
23, 067
44, 902
49, 023
19, 369
64, 833
26, 510
50, 201
54, 474
21, 703
61,363
65,182
71,998
85,452
1,444 1,428 1,624 1,677 1,749 1,860 1,960 1,987 2,061 2,110 2,234 2,315 2,403 2,656 2,873 3,019 3,251 3,505 3,749 3,949 4,333. 5,116
22
10, 627
8,670
14, 673
17, 715
5,641
1,972
2,065
11, 057
9,247
15,511
18, 925
5,994
2,235
2,213
12, 449
10, 286
16, 837
20, 447
6,800
2,617
2,561
15, 314
12, 088
20, 019
23, 031
8,127
3,645
3,229
1,590
1,333
1,431
1,389
1,509
1,401
1,497
5,273
5,304
5,137
4,841
5,271
5,695
4, 713
23
24
25
26
27
28
29
984 1,022 1,213 1,257 1,423 1,467 1,515 1,600 1,627 1,684 1,771 1,866 1,987 2,142 2,341 2,521 2,760 3,014 3,260 3,500 3,852 4,282
30
866
875
4,923
4,395
4,033
3,931
3,556
4,282
3,882
4,095
4,886
3,961
31
32
33
34
35
36
37
38
39
40
41
42
1,783 1,838
1,905 1,929 1,988 2,041 2,117 2,228 2,382 2,587 2,792 3,032 3,277 3,542 3,707 4,033 4,505
43
1,802
1,702
1,641
1,823
1,942
1,892
1,832
1,919
143, 188 156, 189 175,058 197,634
1,485
1,443
1,410
1,431
1,490
1,263
1,242
2,078
1,766
1,962
1, 926
1,757
1,652
1,783
1,592
1,656
1,668
1,217
1,272
1,723
1,762
1,671
1,715
1,681
1,254
1, 398
11,070
5,970
28, 451
16, 855
10, 901
12, 183
6,372
17. 898
8,377
13, 472
18, 791
5,850
12, 237
6,717
32, 694
18, 724
12, 014
13, 326
7,192
20, 193
9,408
15, 101
20, 947
6,504
13,700
8,050
37, 799
21, 032
13, 478
14, 795
8,112
22, 577
10, 582
16,897
23, 506
7,107
1,130 1, 228 1,470 1,501
1,120 1,065 1,258 1,232
58,926
62,774
69,674
79,387
1,187 1,297 1,513
1,274
1,084
1,144
1,199
1,180 1,281 1,442 1,520
968 1,034 1,241 1,259
990
981 1,229 1,272
1,032 1,120 1,279 1,346
790
886
908
755
973 1,037 1,181 1,239
891
893 1,160 1,119
944
994 1,137 1,222
6,568
3,148
8,696
40, 514
7,361
3,402
9,239
42, 772
8,389
3,779
10, 102
47, 404
18,087
19,830
22,294
25,397
1,419 1,457 1,727 1,661
8,569
2,362
2,442
3,440
1,274
9,573
2,555
2,627
3,760
1,315
10,875
2,802
2,923
4,216
1,477
12, 255
3,398
3,376
4,711
1,657
1,433
1,315
1,616
1,241
1,595
1,413
3,522
1,752
1,814
1,621
1,600
1,697
4,132
1,407
1,958
4,582
1,869
1,882
1,874
1,922
1,876
1,479
1,603
1,915
2,093
1,950
2,004
1,968
1,744
1,667
2,649
2,174
2,351
2,345
2,187
1,948
2,096
1,988
2,093
1,987
1,591
1,481
1,986
2,165
2,074
2,116
2,113
1,751
1,792
2,084
2,227
2,143
2, 176
2,107
1,548
1,777
2,180
2,309
2,219
2,288
2,237
2,192
1,981
2, 912
2,456
2,629
2,545
2,370
2,314
2,382
2,335
2,392
2,264
2,046
1,890
2,419
2,496
2,403
2,508
2,348
2,019
1,861
2,757 3,004 3,039 3,253
2,702 ,957 3,100 3,337
2, 634 ,845 3,022 3, 272
2,717 ,888 3,090 3,352
2,617 ,912 3,019 3,176
2,372 ,467 2,618 2,733
2,176 2,425 2,549 2,785
3,515
3,573
3,573
3,530
3,576
3,062
2,937
3,755
3,857
3, 839
3,775
3,786
3,191
3,101
4,808
4,051
4,481
4,230
3,983
3,866
4,097
4,019
4,012
3,974
3,559
3,283
5,162
4,364
4,982
4,572
4,279
4,316
4,535
4,343
4,307
4,451
4,128
3,766
1,487
1,295
1,622
1,309
1,668
1,662
1,367
1,391
1,544
1,830
1,588
1,786
1,542
1,866
1,623
1,412
1,445
1,611
1,718
1,503
1,729
1,554
1,818
1,767
1,593
1,580
1,752
1,768
1,469
1,465
1,614
1,040
1,369
1,236
1,419
1,652
1,610
1,824
1,520
1,490
1,611
1,142
1,448
1,267
1,466
1,707
1,555
1,859
1,804
1,781
1,852
1,936
1,613
1,555
1,672
1,223
1,531
1,349
1,555
1,806
1, 598
1,948
1,649
1,578
1,668
1,222
1,585
1,390
1,571
1,863
1,621
2,021
1,860
1,879
1,935
1,960
1,688
1,683
1,711
1,296
1,649
1,456
1,651
1,921
1, 668
2,062
1,910
1,932
1,998
2,031
1,788
1,769
1,781
1,341
1,758
1,557
1,728
2,042
1,742
2,147
1,983
1,952
2,052
2,117
1,899
1,863
1,880
1,483
1,844
1,619
1,812
2,128
1,835
2,204
2,020
2,024
2,135
2, 258
2,027
1,923
1,988
1,543
1, 965
1,740
1,917
2,302
1,961
2,263
2,063
2,159
2,255
2,402
2,194
2,096
2,134
1, 684
2,103
1,905
2,104
2,464
2,107
2,371
2,209
2,341
2,411
2,587
2,409
2,296
?,348
1,853
2,340
2,127
2,301
2,661
2,268
2,538
2,321
2, 525
2,635
2,817
2,604
2,448
2,546
2,011
2,516
2,293
2,443
2,875
2,428
2,744
2,445
2,712
2,850
3, 112
2,847
2,673
2,767
2,212
2,746
2,526
2,674
3,149
2,577
3,018
2,644
2,925
3,095
3,445
3,150
2,894
2,895
2,401
3,021
2,767
2,927
3,410
2,772
3,345
2,845
3,127
3,341
3,741
3,357
3,118
3,097
2,630
3,256
2,992
3,124
3,707
3,070
3,665
3,092
3,381
3,600
4,050
3,614
3,327
3,299
2,832
3,470
3,181
3,373
3,981
3,309
3,953
3,256
3,553
3,743
4,450
3,956
3,634
3,565
3,188
3,868
3,500
3,708
4,396
3,624
4,273
3,512
3,837
4,085
4,692
3,853
4,340
4,571
1,821
1,919
1,997 2,063 2,109 2,155 2,274 2,316 2,375 2,538 2,679 2,818 3,017 3,289 3,587 3,845 4,200 4,670
1,887
1,667
1,891
1,707
1,938
2,023
1,720
1,944
1,794
2,054
2,110
1,798
2,043
1,838
2,136
2,196
1,871
2,004
1,931
2,232
2,266
1,857
2,035
1,882
2,274
2,334
1,922
1,968
?., 054
2,315
2,389
2,046
2,268
2,169
2,403
2,441
2,080
2,259
2,230
2,444
2,522
2,153
2, 255
2,288
2,463
2,663
2, 450
2,441
2,395
2,605
2,841
2,449
2,649
2,496
2,795
2,990
2,617
2,746
2,621
2,931
3,237
2,733
2,909
2,797
3,116
3,532
3,062
3,175
2,975
3,419
3,851
3,294
3,504
3,218
3,816
4,204
3,467
3,700
3,434
3,879
4,600
3,711
4,083
3,741
4,269
5,029
4,413
4,682
4,072
4,695
1,715 1,801 2,103 2,117 2,335 2,400 2,424 2,560 2,620 2,689 2,798 2,895 3,034 3,172 3,401 3,595 3,901 4,164 4,376 4,582 4,966 5,422
95, 322 103, 839 113, 746
2,777
3,148
2,489
9,481 10, 753
8,512
14, 538 15, 727 17, 674
1,549
3,772
1,330
1,177
1, 143
1,349
1,723
1, 445
1,417
1,500
1,026
1,377
1,210
1,368
1,634
1,491
1,570 1,713
9,655
4,262
11, 558
53, 912
89, 893
2,250
7,812
13,836
1,694
1,795
1,783
1,884
1,628
1,437
1,365
2,488
2,028
2,229
2,227
1,991
880 1,071 1,099 1,304 1,371 1,424 1,491 1,522 1,548 1,622 1,718 1,837 1,987 2,313 2,260 2,480 2,721 2,947 3,175 3,476 3,871
825
992 1,044 1,194 1,207 1,292 1,391 1,389 1,494 1,561 1,654 1,786 1,889 2,102 2,223 2, 421 2,623 2,886 3,060 3,345 3,952
10, 170
5,558
25,604
15, 451
10, 053
11,286
5,828
16, 578
7,767
12, 285
17, 249
5,360
113,791 120,861 131,823 145,322
2,416
1,991
2,214
2,171
1,927
44
45
46
47
48
49
50
51
52
53
54
5,521
5,745
4,833
5,154
55
56
57
58
2384 8,612 2,800 2,448 2,S2S 2,358 2,499 2,806 2,644 2,682 2.746 3,009 3,149 3,399 3.683 3,912 4,246 4,632 4,949 5,222 5,933
59
60
1,852
2,018
1,620
1,674
ilsaft
2,167
2,429
1,875
1,919
2,172
2,437
1,821
2,001
2,419
2,502
2,016
2,092
2,489
2,588
1,996
2,170
2, 505
2,575
2,045
2,208
2,647
2,706
2,163
2,317
2,709
2, 803
2,216
2,358
2,773
2,852
2,260
2,458
2,873
3,140
2,355
2,597
2,978
3,119
2, 454
2,646
3,123
3,125
2,587
2,754
3,251
3,195
2,747
2,952
3,471
3,359
2,922
3,280
3,674
3,502
3, 074.
3,460
3,993
3, 852
3,299
3,730
4,259
4,271
3,527
3,982
4,496
4,563
3,717
4,053
4,699
4,880
3,979
4,224
5,087
5,209
4,339
4,601
1,748 1,802 1,899 1.944 1, 98S 2,157 2,365 2,480 2,565 j2i635 2,809 2,901 3,192 |3,447 3,799 4,155 4,623 4,836 5,153 5,541
Per Capita Personal Income, by Census Regions
51, 097
166, 806
166, 696
61, 363
111,343
38,336
66, 054
30, 053
116, 476
53,808
177, 271
178, 558
65, 182
121, 417
41,814
70, 164
33, 082
123, 693
57, 789
190, 530
194, 401
71, 998
136, 141
46,544
77, 549
37, 238
134,876
63,326
206, 651
217, 721
85, 452
152, 997
52, 187
88, 315
43, 462
148, 714
1,494
1,652
1,602
1,444
1,137
906
1,601
1,751
! 1,666
|1,428
1,211
915
1,118 1,207
1,368 1,418
1,714 1,798
1,865
1,978
1,937
1,624
1,422
1,096
1,405
1,691
2,099
1,905
2,055
1,983
!l,677
1,450
1,145
1,472
11,650
2,113
2,152
!2,282
2,198
1,749
'1,633
1,301
1,619
1,810
2,333
2,241
12,383
2,248
1,860
1,666
1,349
1,691
1,897
2,397
2,254
'2,385
2,205
1,960
1,709
1,403
1,737
1,969
2,422
2,340
2, 506
^2,331
11,987
1,800
1,478
1,804
2,044
2,558
;
2,430
2,582
'2,391
;2,061
1,843
1,496
1,819
2,087
12,612
Detail may not add to totals because of rounding. Alaska and Hawaii are included for
1960 to date, but not in earlier years.
2,499
2,632
2,415
,2, 110
: 1,898
il,567
jl.882
2,134
2,680
2,616
2,750
2,540
2,234
12,000
|1,639
1,936
2,251
2,785
'2,691
2,835
2,635
2,315
2,091
1,740
2,021
2,297
2,882
2,814
2,993
2,791
:2,403
2,231
1,830
2,142
2,353
3,025
2, 986
3,163
3,026
'2,656
12,390
il,995
,2,294
^2,499
3,164
3,219
3,385
3,258
2,873
'2,595
J2,174
2,510
2,642
3,396
3,458
3,619
3,397
:3,019
'2,793
;2,319
:2, 709
!
2, 794
12,594
3,748 4,045 4,304
3,911 4,212 4,475
3,972 4,130
3,251 3,505 3,749
3,059 |3,349 i3,618
|2,541 2,771 12,990
'2,941 3, 156 3,406
3,019 3,304 3,601
;3,899 ;4,163 :4,383
;3,676
4,479
4,720
4,394
J3,949
13,881
3,215
3,567
3,858
4,588
!
4,774
|5,064
'4,766
4,333
4,265
3,538
3,881
4,193
4,969
Source: U.S. Department of Commerce, Bureau of Economic Analysis.
5,212
5,507
5,324
5,116
4,713
3,927
'4,360
4,641
;5,425
61
62
63
64
65
66
67
6S
69
SURVEY OF CUERENT BUSINESS
34
August 1974
Tables 4-15.—Personal Income
[Millions
Table 5.— New
England
Table 4.— United States
Table 6.— Connecticut
Table 7.— Maine
Table 8.—
Massachusetts
Item
Line
1972
1971
1971
1972
1973
1971
1972
1973
1971
1972
1973
1971
1972
1973
836,438
40,398
43,627
47,741
11,293
12,210
13,438
2,621
2,878
3,213
20,061
21,568
23,457
3694,423
1973
Income by place of work
. .. . 2679,467
1 Total labor and proprietors income *_
3
746, 506
3
By Type
2
3573,927 3628,926
Wage and salary disbursements
2
3
34,936
37,825
41,447
9,720
10,534
11,640
2,211
2,418
2,640
17, 517
18, 875
20,585
45, 926
2,110
2,401
2,614
631
711
779
121
143
155
1,035
1,172
1,269
3
Other labor income
- 3 36, 361
4
Proprietors income
69, 179
75,859
96, 089
3,352
3,401
3,679
942
965
1,019
289
316
418
1,509
1,522
1,602
17, 199
51,980
20, 954
54,905
38, 529
57,560
214
3,138
226
3,175
349
3,330
47
894
42
923
50
969
58
231
66
251
153
265
38
1,471
36
1,485
47
1,555
24,685
721, 821
42, 767
2 793, 671
306
40, 093
319
43, 307
451
47,290
73
11, 220
73
12, 137
82
13, 355
78
83
2,543 2,795
172
3,041
64
19, 996
63
21,505
77
23,380
536,934 3588,499
6
6
Farm
-
-
41, 721
By Industry
7
8
Nonfann
9
Private
10
11
12
Manufacturing
Durables
Nondurables
13
Mining
14
15
16
20,677
658, 790
. .
-. ..
Coal mining..
Crude petroleum and natural gas
Mining and quarrying except fuel
3648,565
33,907
36,533
39,867
9,790
10,558
11,627
2,017
2,214
2,402
16,948
18, 193
19,698
181, 117
112, 025
69,092
198, 822
124, 514
74,308
222, 067
142, 181
79,886
12, 252
7,906
4,346
13,232
8,567
4,665
14,692
9,713
4,980
4,067
3,165
903
4,390
3,394
996
4,908
3,830
1,078
735
241
494
798
276
522
864
309
555
5,534
3,339
2,195
5,940
3,608
2,332
6,557
4,089
2,469
5,920
7,252
8,102
(D)
(D)
(D)
11
13
2
2
2
11
11
D
(D3 )
(0) x
9
(D)
(')
(D)
(D)
(D)
8
(D)
1,738
2,098
2,084
2,099
2,963
2,190
2,274
3,375
2,453
( )
36
()
37
40
43,089
47, 370
52,438
2,800
2,995
3,133
786
836
882
114,286
123,601
134,351
6,665
7,116
7,646
1,704
1,829
(D8)
(D
)
( )
12
8
( )
8
()
(8)
12
8n
187
204
211
1,375
1,478
1,526
1,983
438
474
513
3,478
3,700
3,948
1
D
D
(')
(8)
12
17
Contract construction
18
Wholesale and retail trade
19
20
21
Finance insurance, and real estate.
Banking
- Other finance, insurance, and real estate.
37, 201
9,205
27,996
40,844
9,934
30, 910
43,911
10,958
32,953
2,548
614
1,934
2,733
655
2,078
2,941
718
2,223
790
148
642
867
159
707
952
175
778
113
34
79
120
38
83
133
42
91
1,316
349
968
1,396
367
1,030
1,476
399
1,077
22
49,341
54,835
59,852
2,365
2,646
2,853
574
632
690
170
190
206
1,261
1,426
1,527
23
24
25
26
Transportation, communications, and
public utilities.
Railroad transportation
Highway freight and warehousing
Other transportation
_ _ Communication and public utilities
6,900
11,874
10, 521
20,046
7,400
13,558
11,234
22,535
8,117
15, 146
12, 182
24,407
176
610
379
1,200
176
683
406
1,381
192
737
442
1,481
46
144
75
309
44
161
80
346
49
176
95
371
35
43
16
76
36
49
17
88
40
54
17
95
71
315
250
625
71
352
268
735
77
375
286
788
27
Services
103,928
113,539
125,309
(D)
(D)
(D)
1,822
1,953
2,153
357
407
453
3,895
4,162
4,565
4,072
11,948
4,433
12,135
4,909
12, 472
206
665
225
670
239
685
33
192
35
197
37
201
23
49
28
51
30
52
86
308
91
310
99
315
18,824
4,457
64,627
20,940
4,879
71, 152
23,330
5,351
79,247
1,194
187
(D)
1,272
213
(D)
1,396
240
(D)
286
46
1,265
319
49
1,354
358
67
1,500
35
8
242
41
9
279
47
9
314
740
97
2,664
770
116
2,876
831
130
3,190
28
29
30
31
32
33
34
35
36
37
„.
2
-
Hotels and other lodging places.
Personal services and private households.
B usiness and re pair services ..
Amusement and recreation
Professional, social, and related services.
Other industries ..
Government
.
.
Federal civilian
Federal, military.
State and local
2,052
2,236
2,535
154
161
178
39
41
45
16
18
20
77
80
88
121,856
133,322
145, 106
6,185
6,774
7,423
1,430
1,579
1,729
526
581
639
3,048
3,313
3,682
30,790
17,454
73, 612
33,065
18, 573
81,684
35,260
19, 147
90,699
1,333
773
4,079
1,428
821
4,525
1,517
793
5,113
220
129
1,081
234
150
1,195
260
151
1,318
151
100
275
157
112
312
167
111
361
681
304
2,063
725
304
2,284
780
294
2,609
40,398
43,627
47, 741
11,293
12,210
13,438
2,621
2,878
3,213
20,061
21,568
23,457
Derivation of Personal Income by Place of
Residence
38
39
40
41
42
43
44
45
Total labor and proprietors income by place of -' 679,467 3 746,506 3836,438
work.
34,404
42,760
1,809
2,005
2,478
522
550
587
118
136
165
860
966
1,185
Net labor and proprietors income by place of 3648,803 3 712,102
work.
3 793, 678
38,589
41, 622
45,263
10, 772
11,660
12, 751
2,503
2,742
3,048
19, 201
20,602
22,272
852
913
954
732
780
806
-14
-10
-7
-137
-142
-146
3793,678
39,442
42,535
46,216
11,504
12,439
13, 557
2,488
2,732
3,041
19,063
20,460
22,125
131, 777
103, 187
146, 304
117,843
8,265
6,101
8,631
6,623
9,692
7,418
2,575
1,466
2,672
1,562
3,005
1,704
469
480
497
530
553
602
4,017
3,107
4,129
3,378
4,639
3,797
3 864,989 3 947,066
21,057,825
53,808
57, 789
63,326
15,546
16, 674
18,265
3,438
3,759
4,196
26, 187
27,967
30,561
Lett: Personal contributions for social insurance by place of work.
30,644
Plut: Residence adjustment
Net labor and proprietors income by place of ' 648,803 3 712,102
residence.
Plut: Dividends, interest, and rent.
Plut: Transfer payments..
Personal income by place of residence
.. -
122, 912
93, 274
NOTE.—Detail may not add to totals because of rounding.
Not shown to avoid disclosure of confidential information. Data are included in totals.
D
1. Consists of wage and salary disbursements, other labor income, and proprietors' income.
2. Excludes the labor income of private sector employees who work in North Dakota and live
SUKVEY OF CURRENT BUSINESS
August 1974
35
by Major Sources, 1971-73
of dollars]
Table 12.— Mideast
Table 11.— Vermont
Table 10.— Rhode
Island
Table 9.-New
Hampshire
Line
1973
1971
1972
1973
1971
1972
1973
1,517 159,126 171,372 185,266
2,213
2,457
2,759
6,440
6,996
7,508
13,037
14,305
15,750
1,250 138, 114 149, 268 161,436
1,876
2,079
2,314
6,108
6,632
7,118
11,305 12,445
13, 696
2
171
187
207
184
213
232
593
680
745
3
13,938
166
191
239
149
151
159
1,139
1,180
1,309
4
1,275
12,664
44
123
57
134
99
141
(3)
149
(3)
151
(3)
159
101
1,038
129
1,051
205
1,104
5
6
69
1,309
1,028
997
1,546
85
1,433 158,098 170, 376 183, 720
51
2,163
65
2,392
108
2,651
(3)
6,440
6,996
(3)
(3)
7,508
124
12, 913
152
14, 153
232
15, 518
7
8
1,037
1,086
1,185 129, 981 139, 619 150,091
335
242
93
358
258
99
405
297
108
42, 774
24,225
18,549
45, 420
25,934
19,486
8
8
553
346
8
199
1973
1973
1971
1972
1973
1971
1972
1973
2,099
2,318
2,623
3,019
3,274
3,493
1,305
1,378
1,784
1,982
2,259
2,629
2,878
3,074
1,074
1,137
107
127
142
154
176
191
62
71
78
8,187
9,202
9,892
208
208
222
235
219
229
170
170
189
12.825
12,902
12
197
17
192
20
201
4
232
6
214
6
223
55
115
59
110
73
116
800
12,025
756
12, 146
18
2,081
22
2,296
26
2,596
7
3,012
9
3,265
8
3,485
65
1,240
1,752
1,932
2,193
2,363
2,551
2,763
673
369
314
764
411
343
864
480
373
907
660
347
993
620
373
1,104
707
397
4
4
4
8
( )
D
Table 15.— Maryland
1972
1972
1972
8
Table 14.— District of
Columbia
1971
1971
1971
(«)
Table 13.-Delaware
(D)
8
8
(*>)
()
D
(D)
(')
(D
)
(D)
(D)
8
( )
D
8
8
( )
D
(D8)
(D
)
8
()
D
( )
1
1,841
2,033
2,262
2,937
3,159
3,396
9,420
10,331
11,347
9
49, 091
28,687
20,404
891
254
636
953
271
682
1,057
309
748
206
23
183
217
22
195
224
23
201
2,422
1,434
988
2,591
1,559
1,032
2,840
1,753
1,087
10
11
12
678
760
1
2
3
21
13
405
62
210
445
81
234
8
( )
(«>
(D
)
(D)
ftD
( )
D
1
(')
(D)
(D
)
D
( )
(D)
(D
)
D
( )
1
(D)
(D
)
(D)
19
(D)
a
22
(D)
(D)
1
(D)
(D)
14
15
16
166
178
211
180
194
191
116
106
112
9,474
10, 057
10,864
154
176
196
206
242
277
1,048
1,134
1,287
17
361
374
423
489
623
649
205
216
229
26,255
28,083
29, 802
301
339
372
583
598
604
2,275
2,509
2,721
18
110
26
84
118
29
89
132
32
100
156
40
116
167
44
123
178
49
130
63
17
45
65
19
46
69
21
48
10,846
2,832
8,014
11, 697
2,994
8,702
12, 136
3,255
8,881
93
31
63
107
33
74
121
38
83
293
65
228
310
69
241
322
75
247
627
118
509
700
127
573
766
142
624
19
20
21
119
136
147
158
173
184
82
90
99
12,246
13,440
14,249
114
124
140
356
399
430
824
884
957
22
6
34
11
69
6
38
11
80
6
43
12
86
9
49
20
81
8
55
21
89
9
69
22
94
10
25
8
40
10
28
8
44
11
31
9
48
1,289
2,660
3,256
5,041
1,287
2,961
3,438
5,764
1,405
3,178
3,593
6,074
20
29
14
51
22
32
12
57
24
37
15
65
27
16
90
223
25
18
111
245
27
20
123
261
131
216
133
344
124
245
122
392
137
262
137
421
23
24
25
26
333
363
413
226
239
258
27,426
29,801
32,700
282
327
366
1,258
1,354
1,495
2,162
2,445
2,703
27
24
39
30
39
33
40
9
51
9
50
919
2,729
984
2,776
7
42
11
44
12
46
58
116
58
114
61
115
40
251
44
259
49
262
28
29
46
16
211
48
16
231
55
17
268
65
17
<D)
72
19
(D)
6,381
1,204
18,569
6,918
1,267
20,754
47
13
172
60
14
198
67
16
225
218
27
838
235
26
920
245
30
1,044
570
77
1,224
631
81
1,431
667
86
1,639
30
31
32
33
(D)
(D)
(D)
9
51
32
26
32
25
32
25
844
2,702
83
21
(D)
21
5
142
22
5
155
22
6
172
5,831
1,145
16,904
6
7
8
13
12
14
3
3
4
407
443
490
5
6
7
34
39
43
43
46
52
329
364
403
649
714
722
203
223
248
28,117
30,756
33,630
322
359
390
3,503
3,837
4,112
3,493
3,822
4,171
34
73
60
206
80
66
228
85
68
260
167
178
305
189
186
339
178
165
378
40
12
160
43
14
167
47
14
187
8,348
2,145
17,623
9,015
2,221
19, 520
9,701
2,209
21, 720
54
59
209
57
64
238
63
63
263
2,691
330
482
2,964
341
632
3,180
331
600
1,502
525
1,466
1,692
648
1,681
1,707
574
1,889
35
36
37
2,099
2,318
2,623
3,019
3,274
3,493
1,305
1,378
1,517 159, 126 171,372 185, 266
2,213
2,457
2,759
6,440
6,996
7,508
13,037
14,305
15,750
38
96
112
145
152
170
210
62
70
9,370
82
92
117
333
364
412
618
683
834
39
2,003
2,206
2,478
2,867
3,104
3,284
1,244
1,308
1,431 151, 944 163, 657 175,896
2,131
2,365
2,642
6,108
6,632
7,096
12,419
13,621
14,916
40
87
7,182
7,715
266
268
280
96
100
110
-80
-82
-88 -2, 014 -2,214 -2,352
-68
-78
2,252
2,482
2,670
41
2,260
2,473
2,757
2,963
3,204
3,393
1,164
1,226
1,342 149, 930 161,443 173,544
2,063
2,287
2,556
2,697
2,875
3,050
14,670
16,103
17,586
42
436
320
485
364
546
409
639
516
603
666
676
641
229
211
244
233
35,487
28,015
460
212
460
235
603
270
615
721
655
852
718
960
2,120
1,646
2,353
1,851
2,628
2,125
43
44
3,016
3,312
3,713
4,018
4,374
4,710
1,604
1,703
1,881 202,467 218,200 237,046
2,726
2,982
3,328
4,033
4,382
4,728
18,437
20,307
22,339
45
in other States. Data for these income components are not available.
3. Less than $500,000.
273
265
30,049
22,488
31,689
25,068
-87 -3,410 -3, 757 -4,046
Source: U.S. Department of Commerce, Bureau of Economic Analysis.
SURVEY OF CURRENT BUSINESS
36
August 1974
Tables 16-27 .-^Personal Income
[Millions
Table 16.— New Jersey
Item
Line
Table 17.— New York
Table 18.— Pennsylvania Table 19.— Great Lakes
Table 20.-Illinois
1971
1972
1973
1971
1972
1973
1971
25,929
28,034
30,576
72,680
77, 329
82,470
38,827
22,332
24, 199
26,483 63,433 67,860
1,445
1,631
1,754
3,519
3,902
4,152
2,276
2,589
2,803
10,003
11, 297
12,583
2,260
2,585
2,828
2,152
2,205
2,339
5,728
5,566
5,933
3,491
3,609
3,959
12,600
13,473
17, 129
3,774
4,198
5,811
47
2,105
37
2,168
72
2,268
316
5,412
259
5,307
439
5,494
292
3,199
274
3,335
460
3,498
2,815
9,785
3,165
10,308
6,299
10,830
923
2,851
1,149
3,049
2,621
3,191
539
550
3,130
3,526
1972
1973
1971
1972
1973
1971
1972
1973
Income by place of work
1 Total labor and proprietors income *
42,251 46,202 143,321 156,504 175,995
42,636
45,971 51,420
By type
2
Wage and salary disbursements
3
Other labor income
4
Proprietors income
5
6
Farm
._
Nonfarm
- ..
72,385 33,060 36,053 39,440 120, 718 131, 733 146,283
36,601 39, 188
42,780
By industry
7
Farm
-
8
Nonfarm.
9
Private
10
11
12
M anufacturing
Durables
Nondurables
13
Mining
-
87
80
117
406
352
361
348
6,720
1,002
1,240
2,728
25, 842
27, 954
30,459
72, 275
76, 977
81,931 38, 466
41,903
45, 652 140, 191 152,977 169, 275
41,634
44, 730
48,691
22,098
23,872
25,927 60, 476
64, 112
67,897 33, 210
36, 113 39, 261 121, 204 132, 183 146, 656
35,863
38,433
41,914
8,424
4,282
4,142
9,043
4,607
4,436
9,758 17, 345
5,017 9,527
4,741 7,818
18,067
9,996
8,070
19,183
10,905
8,277
13, 488
8,706
4,782
14, 549
9,479
5,070
16,029
10, 678
5,351
53,606
39, 592
14, 014
13, 229 14,387
8,660
9,546
4,570 ' 4,841
16, 145
10, 935
5,210
146
406
493
544
666
833
921
237
301
323
D
( )
(°)
94
340
-3
69
400
20
74
439
26
78
286
51
328
363
119
351
396
140
385
132
(D)
(°)
170
(D
)
D
( )
186
(D
)
D
( )
2,870
3,017
36
39
46
D
91
121
(D)
(°)
80
59, 272
44, 280
14, 992
67,537
51, 338
16,200
(DD)
(D)
(DD)
(D )
( )
8
Contract construction
1,677
1,788
1,934
3,921
3,991
4,270
2,467
2,726
2,900
8,720
9,151
9,821
2,892
18
Wholesale and retail trade
4,425
4,795
5,172
12,476
13, 183
13,817
6,194
6,659
7,115
23, 211
24,777
26,665
7,610
8,032
8,519
19
Finance, insurance, and real estate..
1,307
1,410
1,528
6,649
7,127
7,226
1,876
2,043
2,173
6,440
6,962
7,458
2,396
2,579
2,748
286
Hanking
Otherfinance,insurance, and real estate. . 1,021
299
1,111
335
1,193
1,836
4,813
1,934
5,193
2,079
5,147
496
1,381
532
1,511
586
1,587
1,564
4,876
1,672
5,290
1,827
5,631
566
1,830
609
1,970
667
2,081
14
15
16
17
20
21
Coalmining
Crude petroleum and natural gas
Mining and quarrying except fuel
.. .
( )
( )
(DD)
( )
79
Transportation, communications, and public utilities
Railroad transportation .
Highway freight and warehousing
Other transportation _
Communication and public utilities
2,106
2,259
2,455
5,939
6,564
6,835
2,908
3,211
3,431
9,598
10,544
11,455
3,336
3,670
3,915
23
24
25
26
141
706
490
768
130
782
490
857
142
839
548
926
407
916
2,150
2,466
414
999
2,286
2,865
448
1,045
2,346
2,996
562
777
380
1,189
572
885
416
1,339
628
975
424
1,404
1,696
2,879
1,190
3,833
1,774
3,280
1,245
4,246
1,946
3,716
1,328
4,465
666
881
608
1,181
703
998
655
1,313
771
1,118
706
1,321
27
Services
4,049
4,456
4,943
13,880
14, 871
16, 216
5,795
6,349
6,977
18,688
20,354
22,475
6,077
6,511
7,153
97
411
1,044
121
2,375
113
415
1,156
126
2,646
124
422
1,239
134
3,024
469
1,285
3,016
732
8,378
467
1,287
3,256
767
9,095
487
1,312
3,550
795
10, 072
172
597
936
175
3,915
227
609
1,043
190
4,280
250
620
1,151
206
4,750
534
2,010
3,144
642
12, 359
598
2,048
3,456
697
13, 555
644
2,097
3,890
766
15,078
198
613
1,161
217
3,889
225
602
1,255
233
4,196
235
611
1,406
252
4,648
22
28
29
30
31
32
33
34
35
36
37
Hotels and other lodging places
Personal services and private householdsBusiness and repair services - Amusement and recreation .
Professional, social, and related services. ..
Other industries
.
Government
Federal, civilian.. .
Federal, military _.
-
76
81
91
176
188
205
75
83
92
276
289
324
86
84
95
3,744
4,082
4,532
11, 799
12,865
14,034
5,256
5,791
6,391
18,987
20,794
22, 619
5,771
6,297
6,778
746
479
2,519
823
464
2,794
896
414
3,223
1,883
458
9,458
2,000
501
10,364
2,183
518
11,333
1,473
293
3,489
1,579
302
3,910
1,671
308
4,412
3,606
1,181
14, 201
3,834
1,231
15, 729
4,072
1,267
17, 280 -
1,166
446
4,158
1,229
469
4,600
1,304
463
5,011
42,636
45, 971
51,420
8,666
1,867
2,073
2,532
43,702 137, 108 149,567 167,329
40,769
43,897
48,888
Derivation of Personal Income by Place of
Residence
38
Total labor and proprietors income by place of
work.
25,929
28, 034
30,576
72,680
77,329
82, 470
38, 827
42,251
39
Less: Personal contributions for social insurance by place of work.
1,198
1,305
1,613
3,112
3,233
3,894
1,839
2,038
40
Net labor and proprietors income by place of
work.
24, 731
26, 729
28,963 69,568
74, 096
78,576
36,988
40,213
-134
-146
41
42
Plus: Residence adjustment
Net labor and proprietors income by place of
residence.
43
44
Plus' Dividends, interest, and rent
Plus: Transfer payments
.
45
Personal income by place of residence
..
3,585 -3,864 -4,133 -4,318
3,211
3,418
27,942
30, 147
32,548
65,704
69, 962
74, 258
5,035
3,415
5,590
3,792
6,260
4,218
14,825
10,518
15,385
11, 543
17, 248
12, 692
7,003
5,975
7,247
6,795
36,392
39, 529
43, 026
91, 047
96,891 104, 198
49,832
54, 110
NOTE.—Detail may not add to totals because of rounding.
D
Not shown to avoid disclosure of confidential information. Data are included in totals.
36,854 40,068
46,202 143,321 156,504 175, 995
2,500
-156
6,213
6,937
332
240
280
313
43,546 137, 376 149, 872 167, 661
41,008
44, 178
49,201
28,788
21,272
7,884
4,871
8,419
5,444
9,339
6,293
59, 427 178,558 194, 401 217, 721
53,763
58,040
64,833
8,130
7,750
268
24,422
16, 760
305
25, 914
18, 615
1. Consists of wage and salary disbursements, other labor income, and proprietors' income.
2. Excludes the labor income of private sector employees who work in North Dakota and
live in other States. Data for these income components are not available.
August 1974
SUEVEY OF CURRENT BUSINESS
37
by Major Sources, 1971-73
of dollars]
Table 21.—Indiana
1971
1972
17,400
19,061
14, 215 15,718
Table 22.-Michigan
1973
1971
22, 153 32,585
Table 24.— Wisconsin
Table 23.— Ohio
1972
1973
1971
36,376
40,879
36,865
1972
1972
1973
1971
1972
1973
68,970
8,380
9,565
12,227
6,634
7,541
9,165
43,165 247,721
6,085
6,610
7,418
4,951
5,415
6,049
2
1,034 22,414 22,792 23,083
367
432
488
300
351
391
3
1,928
2,523
4,321
1,383
1,775
2,725
4
1,081
848
1,673
851
3,430
891
773
611
1,062
713
1,971
755
5
6
13,836
15,137
17,025 250,975 256,886
37,791 11,370
12,483
13, 957 239,787
1973
17,603
27, 195
1,211
1,389
1,555
3,162
3,515
3,975
2,569
2,883
3,190
801
925
1,974
1,953
2,995
2,228
2,500
2,752
2,960
3,093
3,538
1,664
1,729
2,033
8,775
656
1,318
565
1,389
1,534
1,461
227
2,001
370
2,130
599
1,065
594
1,134
841
1,193
4,541
4,234
700
618
1,600
296
447
661
664
920
4,906
30,361 34,151 31,337 33,984
511
2,242
410
2,550
486
2,606
597
472
793
2,744
Line
1971
1972
1972
39,959 44,519
Table 27.—Kansas
1973
1971
1971
1973
Table 26.-Iowa
Table 25.— Plains
10,930
18,165
6,427
4,503
13,438
4,728
6,817
1
556
875
13, 894
1,171
1,762
3,539
819
1,112
2,030
7
16,700 18,442
20,553 32, 289 35,929
40, 282 36,394 39,403
43,644
13, 174 14, 473 16, 105 246,069
50,069 255,075
7,210
7,804
8,688
5,815
6,429
7,135
8
14,563 16, 116
18,048
27,853 31,011
34,921
31,761 34,361
38,086
11, 163
12,263
13,687 237, 627
40,873 2 45, 147
6,018
6,505
7,289
4,500
5,021
5,655
9
13,978
11,747
2,231
15,726
13,295
2,431
18,265
15,621
2,643
14,470 15,822 17, 882
10, 472 11,556 13, 265
3,998 4,266 4,616
4,824
3,186
1,638
5,350
3,586
1,764
1,225
715
509
1,402
851
551
1,640
1,033
607
10
11
12
7,104
5,527
1,577
7,988
6,297
1,691
9,141
7,328
1,814
66
83
92
117
143
166
218
276
307
27
36
(D
)
(D)
1,040
45
(D)
(D)
1,145
50
(D
)
(D)
1,248
(D)
(D)
112
(D
)
(D)
126
(DD)
()
141
117
28
73
148
52
76
160
64
83
(D
)
D
(D
)
1,777
1,982
2,082
2,187
2,250
2,476
()
824
2, 587
2,787
3,043
4,935
5,359
5,791
5,835
6,188
6,685
2,243
721
787
859
1,195
1,302
1,390
1,536
1,641
1,753
177
544
191
596
210
649
324
871
345
957
376
1,014
345
1,191
364
1,277
1,113
1,219
1,337
1,730
1,926
2,127
2,583
230
358
75
450
228
412
76
502
251
472
79
536
223
502
156
849
235
577
166
948
258
665
182
1,021
454
865
265
998
1,906
2,078
2,294
4,067
4,512
5,035
58
256
261
50
1,281
61
260
293
54
1,409
71
268
331
60
1,564
100
422
663
140
2,741
105
439
749
151
3,067
112
453
861
167
3,442
27
29
33
54
60
2,137
2,326
2,505
4,436
451
130
1,556
490
143
1,693
509
169
1,827
587
214
3,635
6,105
4,188
1,917
11,290
6,489
4,800
12,489
7,356
5,133
14,057
8,538
5,519
2,044
1,146
898
2,304
1,373
931
2,632
1,662
970
34
347
411
467
33
38
81
94
13
()
998
23
33
292
27
83
301
31
94
341
3,378
3,654
2
(D
)
(D)
508
1
(DD)
()
571
(D)
25
(D)
388
(D)
67
(D)
427
(D)
76
(D)
465
14
15
16
3,226
29
2
(DD)
()
500
28
(D)
(DD)
2,411
2,628
9,261
9,812
10, 703
1,469
1,520
1,698
1,126
1,217
1,348
18
592
653
709
2,585
2, 795
3,017
407
437
475
305
334
372
19
396
1,357
152
440
163
490
178
531
673
1,912
715
2,080
785
2,232
109
298
116
321
129
347
87
218
93
241
103
269
20
21
2,798
3,057
837
932
1,018
4,010
4,493
4,964
541
596
661
537
606
681
22
469
977
258
1,094
515
1,109
265
1,169
121
274
87
355
138
315
90
389
152
352
95
418
913
1,072
586
1,440
1,027
1,231
648
1,587
1,128
1,389
720
1,727
107
177
30
227
124
201
33
239
136
226
34
266
185
131
34
187
210
152
37
207
231
181
40
229
23
24
25
26
4,855
5,308
5,839
1,783
1,945
2,153
(D)
(D)
(D)
991
1,075
1,179
120
529
823
178
3,206
147
557
902
199
3,503
161
569
998
219
3,891
58
190
236
57
1,242
59
190
257
60
1,380
65
196
293
68
1,531
233
800
991
217
(D)
264
805
1,099
235
289
829
1,233
261
(D)
(D)
28
128
129
28
677
38
130
142
30
734
42
134
162
33
807
23
113
122
25
(D)
67
75
79
87
34
37
42
(D)
(D)
(D)
38
36
41
(D)
(D)
(D)
33
4,918
5,361
4,633
5,042
5,558
2,011
2,210
2,418
8,442
9,196
9,928
1,191
1,299
1,399
1,315
1,408
1,480
34
631
236
4,051
679
247
4,435
1,139
314
3,180
1,200
300
3,542
1,270
302
3,987
264
76
1,671
284
83
1,844
310
87
2,020
1,846
1,053
5,543
1,997
1,122
6,077
2,114
1,141
6,673
199
44
948
211
49
1,039
228
52
1,119
241
318
756
266
331
811
283
326
871
35
36
37
15, 137 17, 025 250,975 256,886 268,970
8,380
9,565
12, 227
6,634
7,541
9,165
38
3,162
367
414
519
293
345
433
39
14, 420 16, 124 248,731 254,325 265,808
8,013
9,152
11,708
6,341
7,196
8,732
40
102
17,400 19, 061 22, 153 32,585 36, 376 40,879 36,865
756
853
1,094
1,329
16,644 18, 208 21, 059 31, 256
-76
-99
16, 569 18, 109
2,715
1,959
2,837
2,121
-114
160
1,485
5,082
3,815
1,628
1,808
2,240
633
34, 891 38, 979 35, 237 38, 152 42, 279 13, 202
174
20, 945 31,416 35,065
3,130
2,435
1,899
39, 959 44, 519 13,836
5,543
4,294
195
-269
()
905
717
2
(D)
(D)
27
24
119
149
29
(D)
28
29
30
31
32
91
101
477
503
526
41
9,254 11, 809
6,819
7,699
9,259
42
1,754
1,199
1,903
1,292
2,048
1,457
1,463
965
1,556
1,031
1,648
1,181
43
44
19, 369 21, 703 265,182 271,998 285,452 11,057 12, 449
15,314
9,247
10,286
12,088
45
226
39, 174 34,968 37,874
41, 971
13, 415
14, 646
7,107
5,395
2,562
1,840
2,678
2,045
6,438
4,711
2,561
22
115
133
27
8,104
213
6,178
4,276
2,245
(D)
-488 2-534
-308
6,214
4,814
901
(D)
17
16, 370 248,289 253,837 265,274
-278
21, 243 23, 067 26, 510 40, 313 44,902 50, 201 45, 423 49, 023 54, 474 17,817
3. Less than $500,000.
30
D
(D
)
(D)
246 2 -442
2,997
2,336
9,933
6,960
10,608
7,553
11,507
8,670
Source: U.S. Department of Commerce, Bureau of Economic Analysis.
SUEVEY OF CUKEENT BUSINESS
38
August 1974
Tables 28-39.—Personal Income
[Millions
Line
Item
Table 31.— North Dakota Table 32.— South Dakota
Table 28.— Minnesota
Table 29. — Missouri
1971
1972
1973
1971
1972
1973
1971
1972
1973
1971
12,297
13,419
16,240
15,617
16, 965
19,125
4,633
5,339
6,564
21,712
10, 143
10, 969
12, 161
12, 934
13,923
15, 175
3,403
3,727
4,135
750
866
979
1,071
186
219
236
255
2
1,393
2,193
504
916
476
1,693
500
369
136
Table 30.— Nebraska
1973
1971
1972
1973
3, 017
1,702
2,013
2,631
21,153 2 1, 292 2 1, 410
1,372
1972
Income by Place of Work
1 Total labor and proprietors income * .
2
2, 044
2
By Type
2
Wage and salary disbursements. ..
3
Other labor income >
4
Proprietors income
5
6
585
...
Farm
Nonfarm
677
1,569
1,773
3,329
1,817
2,063
2,880
1,044
721
848
908
865
2,422
907
615
1,202
751
1,312
1,503
1,377
610
433
1,117
1,229
72
56
67
76
686
1,534
629
717
1,183
547
139
1,389
145
374
156
571
146
1,031
152
2
66
By Industry
7
Farm.
8
Nonfarm
9
Private
..
10
11
12
Manufacturing. .
Durables
Nondurables
13
Mining
14
15
16
Coalmining..
...
Crude petroleum and natural gas
Mining and Quarrying except fuel
17
Contract construction
18
Wholesale and retail trade
19
Finance, insurance, and real estate
20
21
22
.
__
..
Transportation, communications, and public utilities.
Railroad transportation
Highway freight and warehousing
O ther transportation
.__
Communication and public utilities
27
Services
28
29
30
31
32
33
34
35
36
37
Hotels and other lodging places
Personal services and private households .
B usiness and repair services _
Amusement and recreation
Professional, social, and related services. ..
0 ther industries
Government
Federal, civilian
Federal, military
State and local
595
1,063
1,306
1,418
1,569
1, 013
21,111
929
994
1,118
84
35
49
91
41
50
109
55
54
137
48
89
155
63
92
176
73
103
12
16
17
4
5
5
2,498
682
817
1,575
662
978
1,763
398
13, 743
14, 934
16, 149
17, 550
3,971
4,361
4,801
21,314
2
1, 459
2
9,624
10, 341
11, 449
12, 512
13, 533
14, 699
3,132
3,465
3,827
2912
2
2,952
1,681
1,271
3,261
1,870
1,391
3,697
2,176
1,521
4,131
2,503
1,627
4,478
2,745
1,734
4,924
3,066
1,857
718
361
357
798
414
384
879
472
407
148
156
177
88
92
102
10
17
3
3
3
1
148
155
176
13
1
74
16
2
75
18
2
82
871
868
931
964
998
1,060
3
1
2,435
649
23
24
25
26
396
1, 591
969
12, 449
2,321
Banking
Other finance, insurance, and real estate..
1,426
777
11,519
2,638
741
696
2,877
822
3,070
890
3,280
951
15
(D)
(D)
(D)
(D)
(D)
(D) 4
291
850
271
334
918
297
585
(D)
(D)
(D)
(D)
22
23
(D)
(D)
(D)
(D)
(D)
26
(D)
(D)
(D)
(D)
(D)
(D)
376
125
149
139
86
93
113
1,007
313
339
383
306
313
350
326
64
69
74
68
71
78
26
48
27
41
28
43
31
47
163
485
173
523
187
554
198
624
210
680
231
720
67
204
71
226
79
247
23
42
24
45
920
1,039
1,168
1,401
1,565
1,693
386
435
486
121
134
147
105
117
128
203
224
176
316
231
251
203
353
254
288
248
377
222
396
306
478
247
448
335
534
271
486
359
578
144
88
25
128
159
111
24
141
175
130
24
156
38
22
6
55
41
27
7
60
45
31
7
64
14
34
7
49
15
40
8
53
17
46
9
56
1,735
1,858
2,063
2,193
2,397
2,642
589
648
715
198
214
237
68
173
257
54
1,183
72
168
278
60
1,280
78
172
313
67
1,433
74
265
349
77
1,427
82
269
395
85
1,566
90
277
437
98
1,741
20
70
94
19
386
24
73
108
21
423
28
75
121
21
470
9
27
24
8
130
10
27
24
8
145
11
28
27
9
163
29
28
34
37
42
47
17
19
21
9
8
9
1,895
2,108
2,294
2,422
2,615
2,851
839
896
974
402
446
479
377
424
451
316
81
1,499
337
82
1,689
358
87
1,849
734
304
1,384
794
314
1,507
828
306
1,716
172
135
532
185
149
562
197
156
621
88
109
205
96
125
225
102
139
239
96
62
219
109
71
244
117
76
258
1,712
22,044
3, 017
1,702
2,013
2,631
75
89
108
69
80
100
2,909
1,634
1,933
2,531
2-17
2-18
2 —21
1,617
21,915
2 2, 510
359
287
388
331
2, 561
23,229
(D)
(D)
(D)
17
24
24
5
(D)
15
23
19
4
(D)
(D)
(D)
(D)
(D)
10
23
17
4
Derivation of Personal Income by Place of
Residence
38
Total labor and proprietors income by place of
work.
12,297
13, 419
16, 240
15,617
16,965
19, 125
4,633
5,339
6,564
39
Less: Personal contributions for social insurance by place of work.
564
632
787
666
756
911
211
246
305
40
41
42
Net labor and proprietors income by place of
work.
11,733
Plus: Residence adjustment
Net labor and proprietors income by place of
residence.
43
44
Plus: Dividends, interest, and rent
Plus: Transfer payments
45
Personal income by place of residence
2
2-93
. .
2
15, 454
12, 787
2
-99
-107
2
2
... 15,511
2,378
1,771
2
16, 837
2
14, 951
16,209
18, 215
4,422
5,093
6,259
2 1, 637
2 1, 955
-849
-919
-971
-75
-84
-90
224
227
2
2
28
2
15,290
17, 243
4,347
5,010
6,169
1,661
1,982
2,937
2,667
2,006
2,749
2,073
2,905
2,252
3,169
2,618
1,055
592
1, 145
645
1,208
750
330
245
361
275
380
327
333
263
20, 019
18,925
20, 447
23,031
5,994
6,800
8,127
2,235
3,645
2 2, 213
NOTE.—Detail
may not add to totals because of rounding.
D
Not shown to avoid disclosure of confidential information. Data are included in totals.
1. Consists of wage and salary disbursements, other labor income, and proprietors' income.
2
14, 102
11,640 12,688 15,346
2,248
1,624
2
2,617
2
2. Excludes the labor income of private sector employees who work in North Dakota and
live in other States. Data for these income components are not available.
August 1974
SURVEY OF CURRENT BUSINESS
39
by Major Sources, 1971-73
of dollars]
Table 3d.—Louisiana
Table 33.— Southeast
Table 34.— Alabama
Table 35.— Arkansas
1971
1972
1973
1971
1972
1973
1971
1972
1973
1971
1972
1973
1971
1972
1973
1971
1972
1973
1971
1972
1973
122,511
37, 794
56, 135
8,726
9,723
10,885
4,523
5,178
6,346
20,666
23,705
27,571
14,002
15, 613
17,602
8,473
9,375
10,541
9,437
10,388
11,621
1
102,368
15, 013
29, 333
7,269
8,027
8,945
3,453
3,876
4,364
17, 446
20, 176
23, 623
11, 744
13, 188
14, 682
6,830
7,494
8,410
7,852
8,614
9,445
2
5,971
7,132
7,923
456
537
595
238
272
302
878
1,093
1,260
670
796
875
463
551
619
494
566
621
3
14, 172
15, 649
18, 880
1,000
1,159
1,345
832
1,029
1,680
2,342
2,436
2,687
1,588
1,630
2,045
1,180
1,330
1,512
1,091
1,208
1,555
4
4.490
9,681
5,012
10, 637
7,703
11, 177
330
670
384
775
530
815
478
354
591
438
1,217
632
535
874
1,710
1,901
1,987
1,078
1,114
1,171
440
740
520
809
662
850
345
746
390
817
692
863
5
463
5,299
5,867
8,673
368
422
572
566
674
1,313
854
783
982
569
577
948
490
574
718
387
440
753
7
117,212
31, 927
47, 463
8,358
9,300
10, 313
3,957
4,503
5,033
19, 812
22, 922
26, 589
13,433
15, 036
16, 654
7,983
8,801
9,823
9,051
9,948
10, 868
8
92, 670
04,884
17, 882
6,462
7,265
8,099
3,242
3,727
4,184
15, 846
18, 400
21,550
10, 664
12,085
13,419
6,434
7,145
7,980
7,356
8,097
8,891
9
1,991
837
1,154
10
11
633
13
29, 603
13. 208
16, 395
33, 454
15,335
18, 119
37, 480
17, 646
19, 834
2,456
1,308
1,149
2,723
1,438
1,285
3,024
1,604
1,420
1,168
618
550
1,344
742
602
1,547
891
656
2,718
1,533
1,185
1,880
2,276
2,453
77
94
106
29
39
41
1,021
1,226
1,305
59
(D)
74
(D)
(D)
83
2
10
18
2
19
18
2
19
20
(D)
506
353
680
371
740
408
(D)
(D)
(D)
89
(D)
(D)
3,087
1, 754
1,332
97
(D)
(D)
(D)
Table 38.— Kentucky
Table 37.— Georgia
Table 36.—Florida
700
3,583
2,096
1,487
510
3,412
1,350
2,062
108
(D)
(D)
(D)
58
(33)
(
58
516
3,834
1,535
2,299
63
4,205
1,685
2,520
70
(3)
(3)
1
63
1
69
2,207
1,281
926
2,515
1,499
1,016
2,878
1,773
1, 105
1,656
668
987
495
308
365
415
283
325
370
(D)
(D)
(D)
(D)
(D)
(D)
(D)
(D)
460
1,808
747
1,062
588
(D)
553
(D)
(D)
(D)
598
Line
12
14
15
16
8,296
9,869
11, 576
492
573
696
236
288
322
1,842
2,341
3,034
815
1,019
1,138
590
660
716
774
860
929
17
20,304
22,659
25, 339
1,325
1,482
1,643
710
803
888
4,036
4,605
5,316
2,592
2,893
3,242
1,300
1,399
1,531
1,672
1,825
1,999
18
5,881
6,708
7,568
364
411
449
202
241
257
1,389
1,654
1,935
773
875
996
325
349
379
436
487
532
19
1,391
4,490
1,547
5,161
1,761
5,807
94
270
104
308
117
332
56
147
62
179
71
186
247
282
339
1,141
1,371
1,596
181
592
200
675
229
767
89
235
97
253
109
270
110
326
122
366
137
396
21
20
8,778
9,998
11, 235
551
636
708
319
368
417
1,669
1,942
2,234
1,105
1,288
1,445
614
679
747
894
976
1,084
22
1,390
2,072
1,913
3,403
1,520
2,443
2,123
3,913
1,668
2,791
2,335
4,440
105
131
63
252
116
156
65
299
127
177
68
336
81
92
18
128
94
109
21
143
103
126
24
163
138
240
613
679
155
286
691
811
169
335
759
971
154
256
293
402
182
303
344
460
200
350
372
524
179
143
65
227
184
171
68
256
202
194
73
278
96
136
362
300
108
158
372
338
119
181
405
380
23
24
25
26
17,506
19,442
21,684
1,176
1,318
1,441
552
616
681
'3, 981
4,532
5,175
1,859
2,060
2,263
1,075
1,160
1,293
1,390
1,507
1,672
27
878
959
34
230
247
25
782
38
237
263
29
874
25
99
77
17
334
26
104
93
19
375
29
107
103
21
421
318
549
588
234
356
568
724
282
427
594
867
328
103
363
421
74
2,292
2,601
2,960
1,072
1,193
1,302
36
168
136
35
701
36
172
153
38
761
44
176
172
42
859
54
232
250
38
815
64
234
284
41
883
69
242
320
46
994
28
29
30
31
32
28
33
26
29
31
121
143
164
51
54
59
16
17
20
41
45
51
33
1,850
1,977
34
362
306
2,916
2,637
2,990
3,088
1,123
3,090
3,565
10, 481
11, 717
13,122
34
223
223
22
675
423
477
546
22
594
688
784
84
346
297
60
88
352
362
64
24,541
27,043
29,581
1,896
2,036
2,213
715
776
849
3,966
4,522
5,039
2,769
2,951
3,235
1,549
1,656
1,844
1,694
6,605
5,505
12, 431
7,120
5,866
14, 058
7,635
6,086
15,859
690
345
860
731
348
957
777
358
194
118
465
211
120
518
842
811
918
901
997
921
923
604
2,703
1,321
1,475
1,708
407
356
893
441
418
985
330
309
2,313
383
354
813
304
297
3,121
810
639
867
609
1,078
179
110
426
1,093
1,211
1.309
35
36
37
122,511 137, 794 156, 135
8,726
9,723
10,885
4,523
5,178
6,346
20, 666
23,705
27,571
14,002
15, 613
17, 602
8,473
9,375
10, 541
9,437
10,388
11, 621
38
8,258
420
477
599
201
231
290
914
1,094
1,445
699
808
1,023
368
419
525
400
454
567
39
116, 893 131, 288 147,878
8,306
9,245
10, 286
4,322
4,947
6,056
19, 752
22, 610
26, 126
13, 303
14,806
16, 578
8,105
8,956
10, 016
9,037
9,933
11, 055
40
1,558
133
154
172
17
17
17
-12
-13
-17
-71
-79
-80
175
193
203
6
10
14
41
118,201 132, 732 149, 436
8,439
9,400
10, 458
4,338
4,964
6,072
19, 739
22, 597
26, 109
13, 232
14, 727
16, 499
8,280
9,149
10, 219
9,044
9,944
11,069
42
24, 783
23, 416
1,294
1,337
1,355
1,483
1,492
1,750
769
862
804
949
879
1,099
5,063
3,648
5,811
4,285
6,558
5,132
1,995
1,627
2,176
1,822
2,409
2,124
1,297
1,325
1,398
1,466
1,521
1,738
1,747
1,393
1,855
1,527
1,969
1,758
43
44
156, 189 175, 058 197, 634
11, 070
12, 237
13,700
5,970
6,717
8,050
28, 451
32, 694
37, 799
16,855
18, 724
21, 032
10, 901
12, 014
13, 478
12, 183
13, 326
14, 795
45
5,618
1,307
20, 344
17, 644
6,506
1,443
22, 452
19,874
3. Less than $500,000.
Source: U.S. Department of Commerce, Bureau of Economic Analysis.
August 1974
SURVEY OF CURRENT BUSINESS
40
Tables 40-51.—Personal Income
[Millions
Table ^.-Mississippi
Item
Line
Table 43.— Tennessee
Table 42.—South
Carolina
Table 41.— North
Carolina
Table 44.—Virginia
1971
1972
1973
1971
1972
1973
1971
1972
1973
1971
1972
1973
1971
1972
1973
Income by Place of Work
1
Total labor and proprietors income *
By Type
4,975
5,687
6,442
14, 858
16,859
18,965
6,914
7,776
8,786
11,007
12,436
13, 954
14,329
15,953
17, 940
2
Wage and salary disbursements
3,804
4,354
4,890
12, 428
14,084
15,661
5,929
6,659
7,497
9,167
10,341
11, 578
12, 515
13,903
15,611
3
Other labor income
412
592
714
789
621
744
828
4
Proprietors income. ..
1,307
1,501
236
1,071
374
1,127
5
6
241
.
Farm
Nonfarm
285
316
679
815
897
314
367
931
1,047
1,235
1,751
1,960
2,4C8
670
750
877
1,248
1,382
1,587
1,192
483
448
537
511
698
537
627
1,125
750
1,210
1,137
1,271
189
481
206
544
306
571
276
971
328
1,054
481
1,106
169
1,023
By Industry
7
Farm
8
Nonfarm
9
Private
10
11
12
Manufacturing
Durables
Nondurables
13
Mining
14
15
16
. . _.
551
606
770
722
845
1,248
225
246
351
320
377
540
226
295
435
4,424
5,081
5,672
14, 136
16, 014
17,718
6,689
7,529
8, 435
10,687
12,059
13,415
14, 102
15, 658
17, 505
3,470
4,003
4,464
11, 520
13,050
14, 493
5,179
5,835
6,621
8,899
10,053
11, 208
9,690
10,889
12,328
1,263
718
545
1,505
915
590
1,687
1,038
650
4,892
1,647
3,245
5,571
1,953
3,618
6,192
2,245
3,948
2,301
589
1,712
2,593
683
1,910
2,928
826
2,102
3,492
1,502
1,990
3,957
1,761
2,195
4,440
2,043
2,397
2,843
1,263
1,580
3,217
1,490
1,727
3,590
1,716
1,874
59
30
12
14
17
61
67
72
153
183
197
23
(3)
38
25
(3)
42
26
1
45
130
(D
)
(D)
158
(D)
(D)
170
(D)
(D)
46
Coal mining
Crude petroleum and natural gas
Mining and quarrying except fuel
59
(8)
(D)
(D)
$
( )
D
(3)
(D)
(D)
S
32
(D
)
(D
)
(D)
36
(D
)
(D)
(D)
(«)
(D)
(D)
8
( )
D
$
( )
D
17
Contract construction
273
321
375
851
1,035
1,176
420
498
611
666
763
858
942
1,084
1,293
18
Wholesale and retail trade
734
823
912
2,326
2,587
2,862
947
1,061
1,190
1,883
2,133
2,352
2,125
2,338
2,636
19
20
21
Finance, insurance, and real estate
Banking
_
Otherfinance,insurance and real estate. .
199
58
141
223
63
160
248
72
176
648
162
486
726
182
544
797
201
596
273
61
212
301
69
232
348
79
269
617
128
388
682
143
439
651
165
485
622
160
461
709
176
533
811
188
623
22
Transportation, communications, and public utilities
Railroad transportation
...
Highway freight and warehousing.
. .
Other transportation
Communication and public utilities
286
334
373
899
1,040
1,172
353
406
455
673
768
861
985
1,111
1,245
23
24
25
26
48
68
31
140
55
83
35
160
60
94
41
178
87
364
103
345
101
420
114
405
110
473
120
469
49
89
32
183
59
111
35
201
65
130
39
221
129
260
85
199
141
312
90
225
155
355
99
252
202
215
222
346
214
244
259
394
235
275
304
431
27
28
29
30
31
32
Services
Hotels and other lodging places
- Personal services and private households. .
Business and repair services
_
Amusement and recreation
Professional, social, and related services. ..
648
27
143
81
12
385
716
27
146
92
14
438
784
31
150
105
16
483
1,832
61
352
229
48
1,141
2,014
69
357
276
55
1,257
2,206
79
366
319
59
1,383
854
38
176
139
21
480
938
42
180
158
25
533
1,045
52
186
180
29
598
1,583
77
243
231
35
996
1,757
85
255
270
48
1,099
1,946
99
262
312
56
1,217
1,984
102
310
323
49
1,200
2,208
108
313
359
55
1,372
2,507
127
325
424
60
1,570
33
Other industries
20
22
25
42
47
52
19
23
28
24
26
29
36
39
48
34
Government
954
1,078
1,208
2,616
2,963
3,224
1,509
1,695
1,814
1,788
2,006
2,207
4,412
4,769
5,176
35
36
37
Federal civilian
Federal military
State and local
221
207
526
247
238
593
272
263
673
416
761
1,439
461
838
1,664
495
902
1,827
324
526
659
343
593
759
360
598
857
627
177
1,084
592
190
1,224
641
183
1,382
1,775
1,221
1,416
1,882
1,304
1,583
1,987
1,368
1,822
Derivation of Personal Income by Place of
Residence
38
Total labor and proprietors income by place
of work
4,975
5,687
6,442
14,858
16,859
18,965
6,914
7,776
8,786
11,007
12, 436
13,954
14,329
15,953
17,940
39
Less: Personal contributions for social insurance
by place of work
218
258
327
689
801
1,012
321
368
474
526
612
774
644
740
927
40
Net labor and proprietors income by place of
work
Plus: Residence adjustment _
..
4,757
5,428
6,115
14, 169
16,058
17,953
6,593
7,407
8,312
10, 480
11, 824
13, 180
13,685
15, 213
17,013
39
40
44
-1
-2
1
101
116
126
-129
-160
-176
1,130
1,254
1,337
Net labor and proprietors income by place of
residence
4,790
5,469
6,159
14, 168
16,057
17,954
6,694
7,524
8,438
10,351
11,664
13,004
14, 815
16, 466
18, 350
41
42
43
44
Plus: Dividends, interest, and rent.
Plus: Transfer payments
. .
733
843
794
930
869
1,083
2,099
1,630
2,335
1,802
2,535
2,087
844
838
937
948
1,037
1,107
1,624
1,497
1,799
1,638
1,979
1,915
2,236
1,740
2,485
1,996
2,767
2,388
45
Personal income by place of residence.
. ..
6,372
7,192
8,112
17, 898
20, 193
22, 577
8,377
9,408
10, 582
13,472
15, 101
16, 897
18, 791
20,947
23,506
NOTE.—Detail may not add to totals because of rounding.
D Not shown to avoid disclosure of confidential information. Data are included in totals.
1. Consists of wage and salary disbursements, other labor income, and proprietors' income.
2. Excludes the labor income of private sector employees who work in North Dakota and
live in other States. Data for these income components are not available.
August 1974
SURVEY OF CURRENT BUSINESS
41
by Major Sources, 1971-73
of dollars]
Table 45.— West
Virginia
Table 46.—Southwest
1971
1972
1973
1971
1972
1973
4,601
5,103
5,482
49,160
54,880
3,931
4,297
4,626
41,008
324
394
408
347
413
447
11
335
19
394
31
416
1,765
3,956
Table 51.— Rocky
Mountain
Table 50.-Texas
Table 49.— Oklahoma
Table 48.-New
Mexico
Table 47.— Arizona
1971
1972
1973
1971
1972
1973
8,924
33,751
37,546
43,199
15,606
17,849
20,464
1
6,815
28,144
30,927
34,559
12,783
14,543
16, 487
2
1,726
1,999
2,208
666
804
898
3
3,881
4,620
6,432
2,156
2,501
3,079
4
1,397
3,223
3,042
3,390
871
1,286
1,091
1,410
1,596
1,484
5
6
1971
1972
1973
1971
1972
1973
1971
1972
1973
63,214
5,840
6,677
7,708
2,679
2,983
3,382
6,890
7,675
45,346
50,802
4,970
5,737
6,620
2,251
2,529
2,808
5,643
6,153
2,433
2,849
3,162
262
325
373
105
123
139
340
401
442
5,720
6,685
9,249
608
614
715
324
330
436
907
1,121
1,667
2,115
4,570
4,434
4,815
160
449
148
466
224
490
139
185
138
192
233
203
337
570
431
690
935
731
1,129
2,752
Line
20
28
44
2,144
2,532
4,915
236
232
320
162
163
261
377
479
997
1,369
1,659
3,337
1,070
1,303
1,828
7
4,581
5,076
5,438
47,017
52,348
58, 299
5,604
6,445
7,388
2,518
2,820
3,121
6,513
7,196
7,927
32,382
35,887
39,863
14,536
16,545
18,636
8
3.908
4,334
4,643
36, 738
41, 103
45,998
4,320
4,986
5,744
1,678
1,883
2,100
4,904
5,480
6,088
25,837
28,754
32,067
10,883
12,492
14, 166
9
1,196
731
465
1,300
817
482
1,414
892
522
8,828
5,066
3,762
9,775
5,685
4,089
11,029
6,556
4,473
870
697
173
1,005
802
203
1,166
940
226
163
97
66
190
118
73
217
133
84
1,144
691
453
1,289
788
501
1,465
916
549
6,651
3,581
3,070
7,291
3,978
3,313
8,182
4,568
3,614
2,268
1,405
863
2,629
1,668
961
2,965
1,899
1,066
10
11
12
283
329
143
162
180
D
(D
)
(D)
D
D
( )
323
( )
(D)
92
D
( )
(D)
92
386
425
872
1,172
1,356
443
520
609
13
(D)
365
(D)
(D)
403
(D)
(3)
815
57
(3)
1,112
60
(3)
1,290
66
42
119
282
52
183
284
66
226
317
14
15
16
506
2,311
2,585
2,910
1,166
1,447
1,714
17
1,402
6,421
7,035
7,766
2,758
3,058
3,425
18
429
117
312
1,898
424
1,475
2,138
465
1,673
2,345
516
1,829
767
202
565
884
223
661
1,003
252
752
19
20
21
685
2,586
2,907
3,267
1,264
1,440
1,612
22
523
674
697
1,547
2,002
2,289
240
525
(D)
(D)
641
(D)
(D)
654
(D)
(D)
15
(D
)
D
( )
18
(D)
D
( )
21
(D
)
D
( )
(D
)
D
393
427
429
3,479
3,968
4,520
571
713
846
187
229
258
410
441
655
711
768
8,973
9,859
10, 918
983
1,095
1,247
410
452
503
1,158
1,278
134
44
90
149
48
101
164
54
110
2,712
639
2,073
3,054
707
2,347
3,365
794
2,571
341
88
253
391
103
288
447
122
325
119
30
89
131
34
97
144
39
105
354
98
257
395
106
289
430
451
493
3,698
4,163
4,682
354
409
473
199
222
257
559
624
( )
238
( )
279
(D
)
D
( )
96
292
D
( )
271
(D)
122
79
28
201
112
90
29
220
123
102
31
238
459
829
866
1,545
533
954
938
1,738
585
1,101
1,027
1,969
41
64
52
197
48
72
60
229
53
83
71
266
35
34
20
109
40
40
21
122
44
49
21
143
51
152
139
216
57
176
153
240
62
200
159
264
331
579
654
1,023
388
667
704
1,148
427
769
776
1,295
286
293
182
503
316
345
208
571
347
397
225
642
23
24
25
26
573
23
75
63
21
390
618
23
79
72
22
422
671
26
82
80
23
460
7,341
319
1,068
1,394
219
4,342
8,102
336
1,075
1,580
245
4,865
8,989
378
1,112
1,775
273
5,451
942
74
105
163
32
569
1,067
77
106
194
38
652
1,207
87
111
230
41
738
449
25
46
162
13
202
487
28
47
170
14
227
531
32
48
180
16
255
962
31
139
131
23
638
1,042
31
141
149
26
695
1,147
34
144
167
30
771
4,989
189
778
939
150
2,933
5,506
200
781
1,066
168
3,291
6,104
224
809
1,198
186
3,687
2,166
134
210
387
83
1,353
2,456
142
219
449
98
1,548
2,773
159
227
529
113
1,745
27
28
29
30
31
32
5
5
6
160
180
207
19
24
29
7
9
10
25
26
31
109
121
137
51
59
66
33
672
741
795
10, 278
11,245
12, 300
1,284
1,459
1,644
840
938
1,022
1,609
1,716
1,839
6,545
7,133
7,796
3,653
4,053
4,470
34
135
56
481
149
60
532
169
46
580
2,788
2,366
5,125
3,016
2,535
5,694
3,228
2,663
6,409
304
264
716
336
301
822
375
306
963
274
151
415
304
165
468
331
179
512
573
307
729
612
307
797
641
326
872
1,637
1,644
3,264
1,764
1,762
3,606
1,882
1,852
4,062
1,208
589
1,856
1,301
692
2,060
1,386
763
2,321
35
36
37
4,601
5,103
5, 482
49, 160
54,880
63,214
5,840
6,677
7,708
2,679
2,983
3,382
6,890
7,675
8,924
33,751
37,546
43, 199
15,606
17,849
20, 464
38
217
244
295
2,208
2,531
3, 175
267
320
415
123
139
171
320
365
451
1,498
1,707
2,139
709
817
1,021
39
4,384
4,859
5,187
46,952
52,350
60,038
5,573
6,357
7,293
2,557
2,844
3,212
6,570
7,310
8,473
32,253
35,839
41,060
14, 896
17,031
19,443
40
-79
-87
-83
20
26
30
4
3
3
-18
-20
-20
69
78
88
-34
-35
-40
26
25
25
41
4,305
4,772
5,104
46,972
52,376
60,068
5,577
6,360
7,296
2,539
2,824
3,192
6,639
7,387
8,560
32, 219
35,804
41, 020 214,902 2 17, 036 2 19, 448
42
642
903
704
1,028
767
1,235
9,404
6, 397
10, 186
7,113
10,998
8,320
995
790
1,115
914
1,258
1,102
450
414
492
463
533
537
1,469
1,131
1,481
1,234
1,575
1,423
6,491
4,062
7,098
4,502
3,355
2,595
43
44
5,850
6,504
7,107
62,774
69,674
79,387
7,361
8,389
9,655
3,402
3,779
4,262
9,239
10, 102
11,558
42,772
47,404
53,912 219,830 222,294 225,397
45
3. Less than $500,000.
7,633
5,259
2,843
2,085
3,032
2,226
Source: U.S. Department of Commerce, Bureau of Economic Analysis.
SUKVEY OF CUEEENT BUSINESS
42
August 1974
Tables 52-63.—Personal Income
[Millions
Line
Table 52.— Colorado
Item
Table 55.— Utah
Table 54.— Montana
Table 53.—Idaho
Table 56.— Wyoming
1971
1972
1973
1971
1972
1973
1971
1972
1973
1971
1972
1973
1971
1972
1973
7,592
8,752
9,880
2,019
2,223
2,756
1,945
2,304
2,699
3,042
3,420
3,824
1,006
1,149
1,305
6,397
7,351
8,423
1,494
1,711
1,927
1,463
1,635
1,814
1,067
Income by Place of Work
1 Total labor and proprietors income 1
By Type
2,608
2,922
3,254
822
925
3
Other labor income
313
386
435
82
98
109
81
95
104
145
172
192
46
53
58
4
Proprietors income, . . .
882
1,015
1,022
444
414
719
402
574
781
289
326
378
139
172
179
270
612
30C
715
276
745
245
200
211
203
504
215
226
177
406
168
602
179
66
223
79
247
118
260
65
73
95
77
95
84
343
371
354
288
265
660
270
455
657
80
92
132
89
120
124
1,849
2,041
2,962
3,328
3,692
917
1,029
1,181
2
5
6
Wage and salary disbursements
Farm
Nonfarm
By Industry
7
Farm
8
Nonfarm
9
10
11
12
13
14
15
16
Private
.
M anufacturing
Durables
Nondurables
Mining
Coalmining-.
Crude petroleum and natural gas
Mining and quarrying except fuel _
17
Contract construction
18
Wholesale and retail trade
19
Finance, insurance, and real estate
.
7,249
8,381
9,526
1,731
1,958
2,196
1,676
5,500
6,414
7,331
1,359
1,539
1,731
1,243
1,374
1,514
2.108
2,412
2,715
673
754
875
441
260
182
210
135
76
229
147
82
248
157
91
478
327
150
545
380
165
620
439
181
67
24
44
75
27
48
86
33
53
34
49
67
80
121
133
152
97
128
154
2
3
6
16
9
97
20
20
94
24
26
101
6
44
47
9
67
52
12
82
60
1,176
725
451
1,393
889
504
1,570
1,009
560
142
161
190
17
60
65
21
81
60
23
99
67
337
194
143
387
225
162
33
30
(3)
(DD)
(3)
(DD)
(')
(D)
(°)
( )
(DD)
( )
( )
(°)
(D)
(°)
(D)
607
765
914
142
169
193
134
156
167
191
248
287
92
110
153
1,405
1,568
1,770
348
388
433
329
355
392
526
589
659
150
157
171
435
519
605
83
90
101
81
85
93
133
152
165
36
38
40
20
21
Banking
Other finance, insurance, and real estate. _
98
337
107
412
123
482
26
56
29
61
33
68
28
53
31
54
34
59
36
97
40
112
45
120
14
21
16
22
17
22
22
Transportation, communications, and public utilities
Railroad transportation
Highway freight and warehousing
Other transportation
Communication and public utilities
581
674
761
143
161
179
180
204
225
251
281
313
109
120
133
23
24
25
26
72
129
125
256
81
151
146
296
89
177
159
336
40
34
9
60
46
41
9
66
50
46
10
72
70
34
14
62
82
38
15
69
90
44
17
75
63
77
25
86
64
92
28
96
71
103
30
110
40
20
10
39
44
22
10
45
48
26
10
49
27
Services
1,134
1,308
1,492
263
302
338
251
269
299
401
456
511
117
121
133
63
108
204
45
713
66
115
241
56
830
71
120
294
66
942
17
27
71
7
140
18
28
79
7
169
20
29
87
8
194
18
25
29
6
173
19
25
33
6
185
23
26
38
7
203
15
35
66
20
265
17
37
78
24
300
18
38
92
27
336
21
14
16
4
62
22
14
17
5
63
27
14
17
4
70
28
29
30
31
32
Hotels and other lodging places
Personal services and private households. Business and repair services
Amusement and recreation
Professional, social and related services
33
Other industries.. ..
34
Government
35
36
37
Federal, civilian
Federal, military
State and local
21
26
29
11
12
13
8
8
10
7
8
9
4
4
5
1,749
1,967
2,195
372
419
464
433
476
527
854
917
978
245
275
306
495
386
868
552
452
962
592
500
1,102
101
50
221
110
62
247
120
68
277
122
60
251
133
67
275
147
74
307
430
55
369
441
66
410
455
72
451
60
38
146
65
44
166
71
50
184
Derivation of Personal Income by Place of
Residence
38
Total labor and proprietors income by place of
work.
7,592
8,752
9,880
2,019
2,223
2,756
1,945
2,304
2,699
3,042
3,420
3,824
1,006
1,149
1,305
39
Less: Personal contributions for social insurance by place of work.
317
374
471
90
102
128
98
111
135
155
176
217
49
54
70
40
Net labor and proprietors income by place of
work.
7,275
8,378
9,409
1,930
2,121
2,628
1,847
2,193
2,564
2,887
3,244
3,607
957
1,095
1,235
-1
-1
7
7
7
41
42
43
44
45
(3)
Plus: Residence adjustment
2-3
4
4
5
-3
-3
-4
2, 561
2,891
3,248
3,612
954
1,092
1,232
444
370
490
380
534
434
592
507
231
130
243
142
261
164
3,398 22,627 22,923 23,376
3,760
4,216
4,711
1,315
1,477
1,657
7,275
8,377
9,408
1,937
2,127
2,635
.
1,385
913
1,486
1,012
1,654
1,193
338
280
360
315
404
359
Personal income by place of residence.- _ - - .
9,573
10, 875
12, 255
2,555
2,802
Net Labor and proprietors income by place of
residence.
Plus: Dividends, interest, and rent
Plus: Transfer payments
NOTE.—Detail
may not add to totals because of rounding.
D
Not shown to avoid disclosure of confidential information. Data are included in totals.
1. Consists of wage and salary disbursements, other labor income, and proprietors' income.
2
2
-3
1, 845
400
383
2-3
2
2, 191
409
324
2
2. Excludes the labor income of private sector employees who work in North Dakota and
live in other States. Data for these income components are not available.
August 1974
SURVEY OF CURRENT BUSINESS
43
by Major Sources, 1971-73
of dollars]
Table 57.—Far West
Table 58.— California
1971
1971
1972
1973
1971
1972
1973
1971
1972
1973
93,753 102,578 113,140
73,866
80, 674
88,288
2,140
2,372
2,696
6,671
7,519
80, 076
87, 531
95, 972
63,344
69, 248
75, 483
1,901
2,107
2,391
5,509
4,411
5,051
5,560
3,533
4,026
4,417
74
90
103
318
9,267
9,996
11,609
6,989
7,400
8,388
165
175
202
1,665
7,601
2,131
7,865
3,380
8,229
1,201
5,789
1,422
5,978
2,150
6,239
27
138
37
138
54
148
3,220
1972
1973
Table 63.— Hawaii
Table 61.— Washington
Table 62.— Alaska
1971
1972
1973
1971
1972
1973
1971
1972
1973
8,570
11,076
12,013
13,586
1,491
1,620
1,752
3,125
3,397
3,762
6,185
6,938
9,322
9,992
11, 159
1,359
1,477
1,598
2,778
3,025
3,344
377
421
487
558
619
48
57
64
118
135
148
845
958
1,210
1,268
1,464
1,808
84
85
90
228
236
269
4
140
704
215
743
425
785
297
970
457
1,006
751
1,057
1
83
1
85
1
89
36
192
30
206
55
215
i
Table 60.— Oregon
Table 59.-Nevada
Line
4,609
2,060
2,347
3,175
39
49
68
204
277
508
385
547
858
1
1
2
105
102
131
99,358 108, 532
71, 805
78,327
85,113
2,101
2,323
2,628
6,467
7,242
8,062
10, 691
11, 466
12, 728
1,489
1,619
1,750
3,020
3,295
3,631
71, 124
77, 769
85, 401
56, 058
61, 186
66,886
1,680
1,856
2,122
5,287
5,945
6,628
8,100
8,783
9,765
836
899
976
1,963
2,144
2,382
20, 187
14, 054
6,133
22,227
15,602
6,626
24, 874
17, 704
7,170
16,064
11, 100
4,964
17,600
12,246
5,354
19, 571
13, 772
5,799
87
53
34
102
63
39
125
79
46
1,690
1,258
432
1,922
1,454
468
2,179
1,670
509
2,346
1,643
703
2,604
1,839
765
2,999
2,183
816
95
33
61
99
37
62
119
46
73
215
46
169
224
50
174
223
56
167
25
45
41
40
(D)
(D)
(D)
1
2
C33)
(D)
3
3
1
1
1
1
2,688
91,065
404
(D)
D
( )
191
454
(D)
D
( )
189
522
(D)
D
( )
224
331
D
( )
211
(D)
381
D
( )
258
(D)
434
D
( )
289
(D)
37
(3)
3
34
3
()
()
37
43
3
(3)
34
()
(3)
42
16
D
( )
(D)
(D)
17
(DD)
( )
D
( )
21
(D)
(D)
D
( )
20
(D)
(D3)
( )
22
D
( )
(D)
(D)
(D3)
( )
(D)
(D)
2
(D)
(D)
2
(D)
(»)
( )
()
(3)
(D)
()
(3)
(D)
1
1
1
5,466
6,004
6,598
4,155
4,580
4,975
179
201
271
410
495
539
722
728
812
161
173
171
303
328
387
16,219
17, 532
19, 085
12, 688
13, 675
14,852
302
336
378
1,291
1,428
1,576
1,938
2,093
2,278
167
183
196
473
520
572
1
5,204
5,767
6,148
4,202
4,678
4,975
95
107
117
327
361
397
581
621
659
41
49
57
178
195
218
1
1,240
3,965
1,365
4,402
1,503
4,644
987
3,214
1,092
3,586
1,200
3,775
22
73
25
82
29
88
88
239
97
264
107
290
142
439
151
470
167
492
15
25
17
32
19
39
37
142
39
156
44
174
2
2
6,970
7,663
8,317
5,454
5,980
6,465
155
174
199
546
610
675
815
900
978
144
158
168
268
290
316
2
690
1,411
1,963
2,905
766
1,608
2,131
3,158
842
1,781
2,278
3,416
434
1,063
1,595
2,361
489
1,198
1,732
2,561
537
1,325
1,841
2,763
20
22
36
77
22
25
40
87
24
28
48
99
101
159
78
208
109
190
84
Til
120
213
95
247
135
166
254
259
146
194
276
283
161
215
294
308
2
21
60
60
2
23
67
66
3
24
73
68
(4)
27
125
116
(4)
29
139
121
(4)
32
161
124
2
2
2
2
16, 299
17, 707
19, 375
12, 890
13,988
15, 261
1,616
1,748
1,935
154
167
190
514
574
649
2
812
1,524
3,132
1,345
9,486
860
1,543
3,493
1,468
10, 342
944
1,598
3,891
1,611
11, 331
460
1,229
2,582
1,030
7,590
478
1,237
2,887
1,132
8,253
529
1,282
3,241
1,225
8,984
100
43
83
22
266
133
46
101
31
338
2
2
3i
3
3
376
415
482
275
305
354
19, 940
21, 589
23, 131
15,748
17, 141
18, 227
421
467
4,498
3,285
12, 158
4,773
3,454
13,363
4,998
3,529
14,604
3,499
2,653
9,596
3,702
2,892
10, 548
3,851
2,897
11, 479
102
80
239
93, 753 102, 578 113, 140
73,866
80, 674
88,288
6,358
3,557
4,100
97, 473 106, 783
70,309
76, 574
4,466
89, 287
70
5,105
82
(D)
(D)
(°)
(D)
(D)
(D)
242
35
145
239
(D)
270
37
149
250
(D)
294
39
142
293
(D)
47
99
139
28
(D)
48
103
158
32
(D)
52
107
180
34
(D)
(D)
(D)
(D)
(D)
(D)
(D)
506
1,180
1,297
109
91
268
115
92
299
285
51
844
2,140
2,372
2,696
5,107
88
96
83, 182
2,052
2,276
63
161
266
49
1,077
63
166
299
54
1,165
68
170
329
60
1,307
13
11
32
3
95
14
12
31
3
107
16
12
32
3
126
62
67
79
29
29
34
(D)
(D)
(D)
3
1,434
2,591
2,684
2,963
654
720
774
1,058
1,151
1,250
3
310
55
933
330
60
1,044
612
500
1,479
653
417
1,614
702
480
1,781
204
229
220
217
242
261
229
246
299
353
329
376
364
389
398
380
450
420
3
3
6,671
7,519
8,570
11, 076
12, 013
13, 586
1,491
1,620
1,752
3,125
3,397
3,762
3}
121
328
370
464
493
539
666
63
69
83
150
159
190
3<
2,575
6,343
7,149
8,106
10, 583
11, 475
12, 920
1,427
1,550
1,669
2,975
3,238
3,571
4(
117
45
91
26
295
a
88
53
66
74
-43
-48
-54
-77
-92
-101
137
156
169
-69
-72
-80
89, 357
97, 556 106, 871
70, 362
76,640
83,256
2,009
2,228
2,521
6,266
7,058
8,005
10, 720
11,630
13,089
1,358
1,478
1,589
2,975
3,238
3,571
41
17,069
14,434
18,638
15, 629
13, 499
11, 461
14,790
12,409
16, 689
13, 801
281
199
315
234
356
271
1,262
984
1,343
1,080
1,502
1,247
2,028
1,790
2,191
1,906
2,449
2,137
89
102
98
121
112
257
495
302
529
365
587
424
41
4'
95, 322 103,839 113, 746
2,489
2,777
3,148
8,512
9,481
10, 753
14, 538
15, 727
17, 674
1,549
1,697
1,958
3,772
4,132
4,582
4<
20, 995
17, 456
120, 861 131, 823 145,322
3. Less than $500,000.
4
Source: U.S. Department of Commerce, Bureau of Economic Analysis.
BY GORDON P. SMITH
International Transportation Transactions in the
U.S. Balance of Payments, 1978
A HE U.S. balance of payments deficit
on international transportation transactions declined more than $0.2 billion,
to $0.6 billion, in 1973 (table I).1
Most of the improvement was due to
a larger rise in passenger fare receipts
of U.S. air carriers than in passenger
fare payments to foreign carriers. Substantial and virtually offsetting increases occurred in payments and
receipts for freight and other transportation services. Cargo tonnages,
freight rates, and port charges all rose.
International transportation is—after
investment income—the largest service
account in the balance of payments.
Receipts from transportation services
amounted to $5.3 billion and payments
to $,5.9 billion. Receipts and payments
are closely interrelated. U.S. carriers'
earnings from foreigners for freight
and passenger fares (U.S. receipts)
are to some extent offset by their
expenses in foreign ports (U.S. payments) ; correspondingly, foreign carriers' earnings from U.S. residents
(U.S. payments) are partly offset by
their expenses in U.S. ports (U.S.
receipts). The balance on transportation services is therefore usually relatively small.
U.S. share
U.S. ocean carriers transported 10
percent of all U.S. waterborne export
1. The transportation account covers the following transactions: (1) U.S. payments to foreigners and U.S. receipts
from foreigners for ocean and air carriage of goods and passengers between the United States and foreign countries,
(2) receipts of U.S. carriers for transporting goods and passengers between foreign points, (3) port expenditures of
foreign carriers in the United States (receipts) and of U.S.
carriers in foreign countries (payments), and (4) receipts
and payments for ship charters, rail and pipeline transactions
with Canada and Mexico, and Great Lakes shipping transactions with Canada.
44
tonnage and 16 percent of import number of U.S. travelers overseas was
tonnage. Their shares of ocean freight twice that of overseas travelers to the
earnings were somewhat higher—25 United States.) The U.S. share in air
percent of export revenues and 22 passenger revenue from all U.S. travelpercent of import revenues. These ers was about 50 percent. The lower
higher percentages were caused by share in revenue, compared with numlarger U.S. shares of tonnage trans- ber of passengers, may be due to the
ported by vessels engaged in liner relatively larger number of travelers
service, that is, dry cargo vessels taking low-cost trips to nearby destinaoperating on fixed schedules over specitions, such as the Caribbean.2
fied routes. The cargos carried on such
vessels typically have higher values Payments
and freight charges per ton than cargo
Nearly half of the $0.8 billion increase
carried on other types of vessels.
in
transportatiou payments was acU.S. carriers (almost entirely airlines)
counted
for by an 18 percent rise, to
were used by about 40 percent of all
overseas travelers to the United States
and by about 60 percent of all U.S.
2. For an analysis of travel expenditures, see " International
Travel and Passenger Fares in the U.S. Balance of Paytravelers to overseas destinations. (The ments:
1973," pp. 22-26, SURVEY, Part I, May, 1974.
Table 1.—Summary of International Transportation Transactions, 1969-73
[Millions of dollars]
1969
1 . Total payments
2.
Passenger fares: U.S. payments to foreign carriers (line 19)
3.
Other transportation (line 20) .
4.
Freight payments to foreign ocean and air carriers on U.S.
imports _5.
Port expenditures abroad by U.S. ocean and air carriers
6.
Other payments
7. Total receipts
8.
Passenger fares: U.S. carriers' receipts from foreign passenger
fares 1 (line 5)
9.
O ther transportation (line 6)
10.
Freight receipts of U.S. ocean and air carriers 2 __.
11.
Port expenditures in United States by foreign ocean and
air carriers ._ _
12.
Other receipts..
13. Balance (net receipts (+); net payments (—))
14.
Passenger fares
15.
Other transportation
16.
Freight
17.
Port expenditures
18.
Other .
r
. .
1970
1971 '
1972 '
1973 '
3,535
1,080
2 465
4,031
1,215
2,816
4,368
1,290
3,078
5,078
1,696
3,482
5,857
1,667
4,190
1 390
671
394
1,635
809
472
1,768
869
441
2,103
945
434
2,496
1,158
536
3,102
3,657
3,892
4,250
5,278
450
544
615
699
2,652
980
3,113
3,277
787
999
952
3,551
1,031
4,298
1,320
1,701
1,906
2,089
2,257
2,658
-433
-630
-374
-671
-476
-675
-828
-897
-579
-687
-603
1 030
-230
-536
1,097
-264
-816
1,220
-205
-1,072
1,312
-171
-1, 176
1,500
-216
164
197
208
297
236
199
263
69
320
108
Revised.
NOTE.—References in parentheses to lines 5, 6,19, and 20 indicate where these estimates may be found in tables 2 and 3 of
regular balance of payments presentations. (See June 1973, SURVEY, pp. 21-59.) Details may not add to totals because of
rounding.
1. Includes fares paid by foreigners to U.S. air carriers for transportation between foreign points.
2. Includes freight payments made by foreigners to U.S. carriers for transportation of cargo between foreign points.
Source: U.S. Department of Commerce, Bureau of Economic Analysis.
SURVEY OF CUEKENT BUSINESS
August 1974
Table
2.—International
Transportation
Transactions, by Type, 1969-73
[Millions of dollars]
Type of transportation
Total payments
1969
1970
1971r
1972' 1973 '
3,535 4,031 4,368 5,078
5 857
Ocean passenger fares. ._ 215
245
264
236
Other ocean transportation
1,849 2,108 2,232 2,555
Import freight
1,281 1,420 1,610 1,918
Port expenditures
264
289
323
313
Charter hire
375
314
304
333
3,129
2,280
433
416
865
970 1 054 1,332
1,383
516
109
611
115
738
158
807
185
941
216
407
496
580
622
725
90
97
108
120
120
3,102 3,657 3,892 4,250
5,278
Air passenger fares
Other air transportation
_.
Import freight
Port expenditures
Miscellaneous
ments
pay. _
Total receipts
284
1
1 (*)
3
Ocean passenger fares. ..
8
Other ocean transporta3,007
2,264
2,418
1,925
2,243
tion
750
796 1,041
644
813
Freight
1,906
1,579
1,270
1,394
1,469
Port expenditures
60
45
43
11
36
Charter hire
Air passenger fares
Other air transportation
Freight
Port expenditures
443
541
614
698
980
573
699
822
913
1,031
431
512
620
678
752
Miscellaneous receipts. .
153
171
191
220
260
142
187
202
235
279
r
Revised.
*Less than $500,000.
NOTE.—Details may not add to totals because of rounding.
Source: U.S. Department of Commerce, Bureau of Economic Analysis.
$2.3 billion, in U.S. freight payments
to foreign ocean carriers (table 2). Import cargo carried by foreign tankers
increased about one-third in tonnage,
because of a substantial rise in petro-
45
leum imports; import cargo carried by Receipts
other foreign vessels, which generally
Freight receipts for U.S. ocean carcommand higher freight rates, rose only riers' transport of U.S. exports and of
about 6 percent in tonnage.
goods between foreign points were $1.0
Passenger fare payments to foreign billion. Receipts for carriage of U.S.
air and ocean carriers for overseas and exports alone rose 38 percent, to $0.8
cruise travel remained virtually un- billion, since cargo tonnage increased
changed at $1.7 billion. A mere 2 17 percent and average freight rates
percent rise in the number of U.S. 18 percent. The latter change was aftravelers to overseas countries, to- fected not only by a general increase in
gether with an increase in the use of rates, but, to an even greater extent,
overseas air charters, with rates below by a rise in the share of total tonnage
those of scheduled flights, and some carried by vessels in liner service.
shift from foreign to U.S. air charters,
Receipts from passenger fares paid
contributed to the stability, following by overseas travelers to the United
a 24 percent rise in 1972.
Payments by U.S. carriers for port States—almost entirely for air transexpenses abroad totaled $1.2 billion, portation—totaled $1.0 billion, up $0.3
compared with $0.9 billion in 1972. A billion. The number of overseas visitors
35 percent rise, to $0.4 billion, in U.S. to the United States using U.S. carocean carriers' expenses abroad mainly riers, especially Japanese and Western
resulted from a 25 percent increase in European, increased 33 percent, comthe combined export and import cargo pared with a 24 percent increase in all
tonnage carried. U.S. air carriers' port foreign visitors from overseas countries.
expenses abroad, associated primarily
Foreign ocean carriers' port expenses
with the transportation of both U.S. in the United States increased 20
and foreign overseas travelers, rose 17 percent, to $1.9 billion. Total tonnage
percent, to $0.7 billion.
handled rose 22 percent, but most of the
Charter hire payments by U.S. carincrease was in tanker cargo, which
riers, mostly for the leasing of tankers
from foreigners, rose to $0.4 billion from involves substantially lower port
$0.3 billion in 1972 and accounted for charges per ton than dry cargo. Port
most of the remaining changes in trans- expenses of foreign air carriers totaled
$0.8 billion, an 11 percent rise.
portation payments.
By JOHN C. MUSGRAVE
Alternative Measures oi Price Change for
GNP, 1971-74
THE
three BEA measures of price
change for GNP—the implicit price
deflator, the fixed-weighted price index,
and the chain price index—have been
revised and updated for 1971-74 to take
account of revised GNP estimates
published in the July 1974 SURVEY.1
The implicit price deflator for GNP,
a byproduct of the calculation of
constant-dollar GNP, is a composite
index of the prices of all the goods and
services that constitute GNP. The
GNP deflator uses shifting weights
based on the shifting composition of
GNP. The two alternative measures of
price change are based on different
weighting systems. The fixed-weighted
price index is calculated using the 1967
composition of GNP. The chain price
index uses the GNP composition of the
prior quarter in the calculation of price
change each quarter.
Table 1 shows quarter-to-quarter
percentage changes in the three measNOTE.—Bruce Levine assisted in preparing
the measures of price change.
1. For a discussion of the measures, see "Alternative Measures of Price Change for GNP," by Allan H. Young and
Claudia Harkins, SURVEY OF CURRENT BUSINESS, March
1969. Reprints of this article and tables showing quarter-toquarter percentage changes in these measures for 1965-70
are available on request.
2. Percentage changes in the implicit deflator and chain
index for total GNP and for gross private product are published each month in the SURVEY in table 19 of the national
income and product tables and in table 7.7 in the July issue.
46
ures.2 Table 2 shows quarterly values
of the fixed-weighted price index.
Changes for 1971-74
From 1971-1 to 1974-11, the fixedweighted index based on 1967 weights
and the chain index increased more
rapidly than the implicit deflator for
total GNP. The fixed-weighted index
increased at a faster rate than the implicit deflator in 13 of the 14 quarters;
the chain index increased at a faster
rate in 9 of the 14 quarters. The quarterly increases in the fixed-weighted
and the chain indexes averaged, respectively, 0.7 and 0.3 of a percentage
point more (at an annual rate) than the
increase in the deflator. This divergence, which had not been apparent in
the 1965-70 period, was primarily
caused by the steadily declining weight
of Federal general Government employee compensation in real GNP.
The declining weight of this component, in turn, resulted from a decline
in Federal employment, particularly
military employment. Because the level
of the deflator for this component is
high relative to that for total GNP
(on a base of 1958 = 100), a decrease in
this component's weight tends to hold
down the rate of increase in the implicit
deflator for total GNP.
Comparison of the alternative measures of price change for gross private
product—GNP less output of general
government, represented by compensation of general government employees—abstracts from the impact of the
declining weight of Federal Government
compensation. However, a similar pattern of divergence among the measures
of price change remains. The fixedweighted index increased faster than
the implicit deflator in 12 of the 14
quarters, averaging an increase of 0.6
of a percentage point more (at an
annual rate) than the implicit deflator.
The chain index increased faster than
the deflator in 9 of the 14 quarters,
averaging an increase of 0.2 of a percentage point more. The divergence
resulted from (1) a decline, over this
period, in the weights of components
of gross private product with relatively
high deflators (on a base of 1958=100),
notably output of highways and streets
and nonresidential buildings purchased
by State and local governments and
output of private industrial buildings,
and (2) an increase in the weights of
components with relatively low deflators, notably output of furniture and
household equipment purchased by
consumers.
August 1974
SURVEY OF CUEKENT BUSINESS
47
Table 1.—Price Changes as Measured by Implicit Deflators, Fixed-Weighted Price Indexes, and Chain Indexes, Quarterly, 1971-1—1974-11
[Percent change at annual rate]
19 71
I
Implicit
deflator
1967
weights
Chain
Implicit
deflator
1967
weights
Chain
Gross national product
4.71
5 80
5 80
4 84
5 11
5 01
Personal consumption expenditures
Durable goods
Nondurable goods
Services... _ .
3 56
4 06
3 23
6.57
4.74
4 88
3 04
6 47
4
4
2
6
67
45
99
47
4 11
2 88
3 42
5 33
4
2
3
5
27
47
78
39
4 16
2 31
3 65
5 35
Gross private domestic investment _.
Fixed investment
Nonresidential
Structures
... .. .
Producers' durable equipment .
Residential structures
Change in business inventories .
3.55
1 27
2 67
1.49
9 33
4.02
2 55
1 90
2.93
9 20
4.11
2 40
1 67
2.83
9 21
6.64
5 16
8 55
4.06
9 00
6
5
7
4
9
48
72
05
97
08
Net exports of goods and services
Exports
Imports
11.43
7.32
il. 28
7.59
11.28
7.57
.96
1.16
Government purchases of goods and services
Federal
State and local .
9.32
16.26
3.87
8.77
13.98
3.77
9.00
15.64
4.29
3.77
4.46
4.61
Addendum:
Gross private product
IV
III
II
Implicit
deflator
1967
weights
2 59
Chain
Implicit
deflator
1967
weights
Chain
3.65
3.54
1.88
2.96
2.58
83
44
62
64
3.49
—1 30
2 86
5 78
3.47
—1 20
2 88
5.78
1.85
—3 25
3.28
2.68
2.19
—2.49
3.05
2.89
2.04
-2.64
3.02
2.85
6 72
5 90
7 67
4 88
8 98
4 46
3 99
9 26
.97
4 03
4.85
5 11
8 47
3.22
4 00
4.72
4 97
8.66
2.92
4.08
1.16
—1 00
3.69
-1.20
6.00
2.76
1.83
4.51
.31
5.95
2.51
1.05
3.87
-.56
5.96
1 32
1.42
1.32
1.43
.44
5.55
-.18
5.40
-.13
5.48
.97
4.73
2.04
4.32
2.00
4.30
6.18
4.70
7.08
6.63
5.19
8.11
6.53
5.28
7 46
1.07
-3.41
4.64
4.58
3.95
5.21
4.65
3.96
5.13
2.63
3.36
2.04
5.50
7.59
3.42
4.86
7.41
3.07
4.83
5.03
4.92
2.30
3.39
3.28
1.50
2.25
2.01
2
—1
2
5
Table 1.—Price Changes as Measured by Implicit Deflators, Fixed Weighted Price Indexes, and Chain Indexes, Quarterly, 1971-1—1974II—Continued
[Percent change at annual rate]
1972
I
Gross national product .
Implicit
deflator
1967
weights
II
Chain
Implicit
deflator
1967
weights
IV
III
Chain
Implicit
deflator
1967
weights
Chain
Implicit
deflator
1967
weights
Chain
5 51
5 60
5 38
1 91
2 97
2 88
3 31
4.01
4.02
4 06
4.83
4.34
3 48
2.77
3.68
4.11
3 70
3.01
3.89
3 74
3 59
2.88
3.70
3 74
2 70
1.60
2.43
4 25
3 20
1.80
2.49
4 39
3 18
1.54
2.50
4 46
2 88
2.43
3.51
3 25
3 57
3.99
3.70
3 31
3 48
3.43
3.68
3.29
2 77
-2.33
4.32
3 79
3 08
-2.51
4.36
3.64
2.82
-2.73
4.22
3.68
Gross private domestic investment.. .
Fixed investment __
_
Nonresidential .
Structures
Producers' durable equipment
Residential structures
Change in business inventories .
5 57
4.29
6 89
2.46
7.53
4 75
3.93
6 40
2 51
7.51
5 21
4.21
7 04
2 66
7.51
2 62
2.06
2 80
2 33
3.89
2 73
2.37
2 57
2 25
3 91
2 78
2.28
2 23
2 31
3.88
5 26
2.75
3 73
4 34
11 40
5 30
3.51
4 55
2 90
11.39
5 91
3.43
4 46
2 86
11.43
3 45
.80
7 gg
—1 51
10 39
4 64
2.93
8 31
— 16
10.32
4.65
2.09
8.30
-1.09
10.35
Net exports of goods and services
Exports
Imports
4.36
6.06
3.29
6.82
3 33
6.78
5 98
14.57
6 08
14 41
6 02
14.45
4 00
7 59
3 94
7.70
3 94
7.80
8 20
6 43
8 18
6.28
8.26
6.42
11 92
18.25
7.56
11 67
15.28
8.09
11 45
16.37
8.05
4 19
3.42
4.62
4 11
2 82
5.45
4 61
2 97
5 81
8 00
8 18
7 10
5 08
2 83
7 43
5 45
2.92
7 30
8 60
12 04
6 12
8 88
10 41
7 35
8.22
10.74
6.54
4.35
3.67
3.81
1.76
2.45
2.31
3.00
3.60
3.58
3.50
3.82
3.54
Personal consumption expenditures
Durable goods
Nondurable goods. _
Services
_
Government purchases of goods and services
Federal _
State and local
Addendum:
Gross private product
.. .
SUEVEY OF CUREENT BUSINESS
48
August 1974
Table 1.—Price Changes as Measured by Implicit Deflators, Fixed-Weighted Price Indexes, and Chain Indexes, Quarterly, 1971-1—1974II—^Continued
[Percent change at annual rate]
1973
II
I
Implicit
deflator
1967
weights
Chain
Implicit
deflator
IV
III
1967
weights
Chain
Implicit
deflator
1967
weights
Chain
Implicit
deflator
1967
weights
Chain
5.49
6.94
6.39
7.27
7.46
7.06
8.28
8.02
8.05
8.65
9.25
8.53
Personal consumption expenditures
Durable goods
Nondurable goods
..
Services
4 98
.51
10.46
4.03
6 81
1.92
11.03
4.20
6 25
1.76
10.38
4.10
8 56
4.51
12.77
5.02
8 60
5.05
13.55
4.78
8 10
4.85
12.92
4.78
7 61
5 83
10.89
4.29
7 74
3.78
12.12
4.52
7 20
4.24
11.22
4.47
10 90
15.01
7.94
.52
10 27
1.50
15.38
7.79
9.87
1.16
15.21
8.06'
Gross private domestic investment. _
Fixed investment
Nonresidential ...
Structures
Producers' durable equipment
Residential structures
Change in business inventories
4.99
3.37
9.90
1.47
10 96
6 62
5.28
11.18
1.83
10 98
6.61
4.65
10.11
1.87
10 95
7.45
6.35
8.66
5.70
12 41
7.01
5.34
8.53
3.41
12 35
7.42
5.25
8.68
3.50
12 38
8 03
6.54
6.59
5.78
14 70
8.23
6.19
7.72
5.24
14 74
8.67
6.12
7.57
5.38
14 74
2.93
4.82
5.65
3.92
3 66
4.59
4.89
7.06
3.55
3.69
4.38
4.65
6.97
3.45
3.73
Net exports of goods and services
Exports.
Imports
12.91
10.91
12.60
10.76
12.66
11.01
24.50
34.85
24.19
34.00
24.15
34.78
31.31
18.46
31.01
18.47
31.47
18.49
27.96
34.27
27.66
33.78
27. 52
34.27
6.77
6.31
6.88
6.10
5.58
6.63
6.27
5.94
6.48
7.21
8.06
6.37
6.59
6.21
6.98
6.43
6.16
6.60
5.75
7.33
4.45
5.31
5.80
4.82
5.67
6.48
5.16
8.42
10.74
6.93
10.81
13.38
8.23
9.56
12.65
7.69
5.97
7.36
6.65
7.70
8.10
7.50
8.66
8.43
8.42
8.70
9.14
8.56
Gross national product
..
Government purchases of goods and services .
Federal
State and local
Addendum
Gross private product
--
-..
1974
I
Implicit
deflator
II
1967
weights
Chain
Implicit
deflator
1967
weights
Chain
Gross national product
12 29
12 71
11 57
9 59
11 21
9.93
Personal consumption expenditures
Durable goods
Nondurable goods
Services
13 73
6.38
22 00
7.87
14 60
6.46
23 43
8.03
14 23
6.43
23 53
8.08
11 78
12.25
13 66
10.29
12 03
13.64
12 93
10.53
11 98
12.56
13.09
10.64
6.31
7.90
5.38
7 78
9.40
6.86
6 01
6.35
5 80
9 45
6.96
6 03
6.04
6 02
9.44
11.80
11.57
8.59
13 48
14.28
11.91
11.12
10.43
11 56
14.32
11.87
11.07
10.15
11 57
14.32
Net exports of goods and services
Exports. . . .
Imports
_.
39.07
66.07
40 40
63.37
39 46
65.93
24 85
51.63
25 43
50.87
24.94
54.09
Government purchases of goods and services
Federal
State and local
13.59
12 91
13 95
15 16
17 92
12 37
13 29
14 49
12 57
12 13
10 40
13 19
13.93
15 87
11 93
12.02
11 90
12 10
Addendum
Gross private product
12.85
14.08
12.59
10.19
12.33
10.73
Gross private domestic investment
Fixed investment
Nonresidential
Structures
Producers' durable equipment
Residential structures .
Change in business inventories
..
Table 2.—Fixed Weighted Price Indexes, 1967 Weights, 1971-1—1974-11
[1958=1001
18 71
I
II
III
IV
19'r4
1973
IS 72
I
II
III
IV
I
II
III
IV
I
II
139. 985
141. 739
143. 022
144 068
146 046
145 118
148 570
150 331
152 874
155. 650
158. 681
162. 229
167. 167
171. 667
133. 389
112. 713
130. 679
145. 479
134. 791
113. 403
131 915
147 402
135.951
113. 032
132 849
149 486
136. 689
112. 322
133 852
150 555
137. 937
113 158
135 134
151 943
139. 029
113 663
135 969
153 585
140. 255
114 780
137 211
154 839
141.321
114 053
138 682
156 228
143. 667
114. 597
142 359
157 842
146. 660
116. 018
146 953
159 697
149. 417
117. 098
151 217
161 471
153. 114
117. 535
156. 724
164. 527
158.419
im389
162. 983
123. 268
170. 293
167.733
171.986
137. 112
135. 310
158. 707
124. 857
143. 588
139. 280
137. 204
161. 433
126. 380
146. 743
140. 940
138. 923
164. 747
127. 386
148 189
141. 904
139. 555
166. 573
127. 484
150 347
143
140
169
128.
153
559
907
175
278
093
144 528
141 734
170. 250
128. 994
154 570
146 407
142 961
172 153
129. 919
158 793
148 076
143 996
175 622
129. 867
162 741
150 469
145. 860
180. 339
130. 456
167 037
153. 038
147. 771
184. 065
131. 556
171 971
156. 095
157. 858
151. 808
190. 744
134. 413
179. 605
16d. 497
183. 705
165. 077
158. 156
198. 565
140. 103
189. 957
Net exports of goods and services
Exports
Imports
125. 134
123. 432
125 544
123 869
125 488
125. 509
126 124
126 843
127 149
128 952
129 039
133 366
130 293
135 862
139 878
137 948
136 880
141 519
144 499
152 263
154. 693
158. 853
178. 875
193. 146
189. 301
214. 059
Government purchases of goods and
services. . .
Federal
. .
State and local
163. 131
154. 431
173. 042
165. 769
156. 396
176. 447
167. 668
157. 981
178. 703
169. 926
176. 449
167. 882
186. 208
178. 649
169. 058
189. 573
182. 489
173 294
192. 963
185. 208
175. 662
196. 083
188. 188
178. 328
199. 421
190. 638
180. 857
201. 780
195. 594
186, 627
180. 213
174. 682
166. 720
183. 753
205,809
202. 666
194. 561
211. 899
217. 955
Addendum:
Gross private product .
134. 355
136. 013
137. 160
137. 924
139. 171
140. 015
141. 261
142. 590
145. 143
147. 996
151. 019
154. 359
159. 539
164. 246
Gross national product
Personal consumption expenditures
Durable goods
Nondurable goods
Ser vices ..
Gross private domestic investment
Fixed investment
Nonresidential
Structures
..
Producers' durable equipment
Residential structures
Change in business inventions
160.896
150.006
187. 518
133. 246
177 984
164.326
170. 841
165. 193
154.041
193. 700
136.322
209.385
201.861
SUEVEY OF CUEEENT BUSINESS
August 1974
49
ERRATA
Corrections are shown here for certain items in the National Income and Product tables
published in the July 1974 SURVEY.
Table
1. 14
1. 14
1. 14
1. 14
1. 17
1. 18
3.4
3. 12
3. 12
3. 12
6.6
6. 13
8.5
*
Period
1972
1970-11
1972-IV
1970-IV
1973
1973
1973-1
1973-IV
1973-11
1973-IV
1970
1973
1973
Line
1
19
26
40
5
1
8
2
24
24
67
68
3
*
.5
-.4
1,245
9,582
85.3
*
*
*
Correct
648. 1
517.9
18.6
.827
3,762
53. 7
162.6
.1
-.5
.4
1,275
19, 582
185.3
Published
648.2
519.7
28.6
.872
4,762
53.6
162.7
*
*
The title of table 1.3 is published as (billions of 1958 dollars). It should be (billions of
dollars) .
Manufacturing and Trade Sales and Inventory/Sales Ratios
[Millions of dollars]
Seasonally adjusted
Seasonally adjusted
Unadjusted
sales
The Census Bureau has published
revisions to its Manufacturers1 Shipments, Inventories, and Orders: 1967-73
(Revised), Series M3 —1.5 (Change
Sheet issued June 1974). The revisions
are necessary because of an error in the
level of the monthly survey and the
comparable level of the 1972 Census of
Manufacturers Advance Report for the
complete aircraft and missiles series.
The revisions affect unadjusted sales,
new orders, and unfilled orders from
1970 to 1974 and seasonally adjusted
data from 1968 to 1974. Shown here are
the resulting revisions in aggregate
manufacturing and trade sales and the
inventory sales ratio for 1968-1973.
Data for 1974 are on page S-5.
1968:
Jan
Feb
Mar
Apr
May
j"un6
July
Aug
Sept
Oct
Nov
Dec
Sales
Inventory/
sales
ratios
1971:
-
1969:
jan
Feb
Mar
Apr
May
Ju.no
July
Atiff
Sept
Oct
Nov
Dec
86, 999
90,590
95, 812
96,021
98,687
100, 143
94.486
96,106
98,509
103, 480
101,339
103, 026
94, 189
94,441
95, 237
95,180
96, 171
96,924
98,242
96,200
98, 524
99,546
100,007
99, 116
.55
.55
.54
.56
.56
.55
.53
1.58
1.55
1.54
1.54
1.57
Jan
Feb
Mar.
Apr
May
June
July
Aug
Sept
Oct
Nov
Dec
93,011
95,346
102, 154
102, 872
104. 818
106, 613
99, 197
102, 362
106,530
110, 474
104, 515
109, 422
100, 134
101, 112
101, 610
102, 159
102, 518
102, 821
102,834
104,000
104,940
106,042
104, 871
104,503
1.56
1.55
1.56
1.56
1.56
.57
.58
.57
.56
.56
.58
.60
1972:
Jan _
Feb.
Mar
Apr
May
June
July
Aug
Sept
Oct
Nov
Dec..
1973:
96,266
98,533
104,808
103,985
106,255
110,435
102,808
103,975
107, 693
108, 113
102,608
111, 002
103,965
104, 560
104,077
103,316
104,947
105,368
105,836
105,876
105, 874
104,293
102, 862
105,629
.61
.61
.62
.64
.62
.62
.63
.63
.64
1.66
1.70
1.66
Jan
Feb
Mar
Apr
May
June
July
Aug
Sept
Oct .
Nov
Dec
1970:
Jan
Feb
Mar
Apr
May
June
July
AUK
Sept
Oct
Nov
Dec
Unadjusted
sales
..
.-
- ..
....
. .. ..
Sales
Inventory/
sales
ratios
97,977
102, 368
111, 780
112, 224
112, 820
118, 865
108,783
111, 573
115, 988
116, 628
116, 739
121,467
107, 222
108, 685
109,990
110, 685
111, 731
112, 996
112, 277
113, 942
113, 804
113, 699
115,887
115,977
1.64
1.62
1.61
1.61
1.60
1.59
1.60
1.59
1.60
1.60
1.58
1.58
107, 323
112, 774
123,207
120,200
125, 226
128,986
116, 484
125, 692
129, 749
132,394
132, 775
135, 962
118, 213
117, 837
119, 985
121, 025
122, 257
121, 868
122, 288
126, 250
127, 079
129, 660
131, 213
132, 835
1.56
1.57
1.54
1.54
1.53
1.53
1.54
1.51
1.51
1.49
1.48
1.48
125,206
130,096
143, 262
140,717
146,054
149, 121
138, 159
145,638
145,264
154, 192
153, 952
153, 297
136, 101
138, 161
140,457
140,433
141, 774
141, 334
145, 467
145, 337
145,321
149,469
152, 255
150, 643
1.46
1.45
1.43
1.44
1.44
1.46
1.44
1.45
1.46
1.43
1.43
1.47
SURVEY OF CURRENT BUSINESS
50
August 1974
Stocks of Business Inventories in Constant Dollars, End of Quarter, 1947-74
[Billions of 1958 dollars]
Nonfarm
End of quarter
Total
Wholesale
Manufacturing
Farmi
Total
Total
Durable
Nondurable
Total
Retail
Durable
Nondurable
Total
Durable
Nondurable
All
other
industries 2
5.5
5.6
1947: I
II
Ill
IV...
92.1
91.9
91.4
91.9
20.9
20.3
19.7
19.5
71.3
71.7
71.6
72.4
40.2
40.2
40.5
40.4
22.7
22.9
23.3
23.0
17.4
17.2
17.2
17.4
9.9
10.0
9.8
9.4
3.7
3.7
3.8
3.7
6.2
6.3
6.0
5.8
15.7
15.9
15.6
16.5
5.6
5.7
5.9
6.0
10.1
10.2
9.7
10.5
5.8
6.0
1948: I
II.
III
IV
92.8
93.9
95.4
96.5
19.7
20.0
20.3
20.5
73.1
73.9
75.1
76.0
40.3
40.8
41.4
41.6
22.6
22.6
22.7
22.7
17.7
18.3
18.7
18.9
9.5
9.7
10.1
10.4
3.8
4.0
4.3
4.5
5.7
5.7
5.8
5.9
17.4
17.5
17.7
18.1
6.6
6.7
6.7
6.9
10.8
10.8
11.0
11.2
5.9
5.9^
5.9
5.9
1949:
I...
II...
III.
IV..
96.4
94.8
94.2
92.5
20.4
20.1
19.8
19.7
76.0
74.7
74.3
72.8
41.9
41.0
40.1
39.4
22.9
22.2
21.4
20.8
19.0
18.8
18.8
18.6
10.5
10.3
10.4
10.4
4.5
4.3
4.3
4.3
6.0
6.0
6.1
6.1
17.7
17.6
18.3
17.7
6.7
6.4
7.2
6.6
11.0
11.2
11.1
11.1
5.9
5.8
5.5
5.3
1950:
I.
II.
III.
IV
93.4
94.9
96.4
100.8
19.8
19.9
20.2
20.5
73.6
75.0
76.2
80.3
39.6
39.9
40.2
42.0
20.8
21.2
21.6
22.7
18.8
18.7
18.6
19.3
10.8
11.2
11.2
12.0
4.4
4.7
4.7
5.4
6.3
6.5
6.5
6.6
18.0
18.4
19.3
20.3
6.3
6.6
7.0
8.1
11.6
11.8
12.3
12.3
5.4
5.4
5.5
6.0
103.5
107.5
110.4
111.7
20.7
21.0
21.2
21.5
82.8
86.6
89.2
90.3
43.3
46.3
49.5
50.8
23.7
25.8
28.2
29.2
19.6
20.5
21.3
21.6
12.1
12.6
12.6
12.5
5.5
6.0
6.1
6.0
6.7
6.6
6.5
6.4
21.3
21.4
20.7
20.4
8.3
8.6
8.5
8.3
12.9
12.8
12.2
12.1
6.1
6.2
6.4
6.7
1952: I.
II..
III.. .
IV.
113.2
112.6
113.6
115.0
21.7
21.9
22.1
22.2
91.5
90.7
91.6
92.8
52.5
52.1
52.4
53.0
30.4
30.4
30.6
31.1
22.0
21.8
21.8
21.9
12.3
12.1
12.4
12.8
5.8
5.6
5.5
5.7
6.5
6.6
6.9
7.1
19.9
19.5
19.9
20.4
8.0
7.8
7.8
8.1
11.8
11.7
12.0
12.2
6.9
6.9
6.9
6.7
1953: I
II.
III.
IV...
115.8
116.7
117.0
116.0
22.1
22.0
21.8
21.8
93.7
94.8
95.2
94.2
53.7
54.5
54.9
54.4
31.8
32.5
32.9
32.5
21.9
22.0
22.0
21.9
12.9
13.0
13.1
12.9
5.9
5.8
5.9
5.7
7.1
7.2
7.2
7.2
20.5
20.9
21.0
20.8
8.3
8.5
8.8
8.5
12.1
12.4
12.3
12.3
6.6
6.4
6.2
6.0
1954: I
II....
Ill
IV..
115.3
114.4
113.7
114.0
21.8
21.9
22.1
22.3
93.4
92.4
91.7
91.6
53.4
52.2
51.3
51.5
31.6
30.5
29.8
29.8
21.7
21.7
21.6
21.6
13.1
13.2
13.2
13.2
5.7
5.7
5.7
5.7
7.3
7.5
7.5
7.5
20.9
21.0
21.1
21.0
8.4
8.4
8.4
8.3
12.5
12.5
12.7
12.7
6.1
6.0
6.1
6.1
1955: III.
Ill
IV
115.2
116.9
118.5
120.4
22.5
22.6
22.7
22.7
92.7
94.3
95.8
97.6
51.7
52.4
53.2
54.2
29.9
30.4
30.9
31.5
21,8
22.0
22.4
22.7
13.3
13.8
14.1
14.4
5.9
6.2
6.3
6.5
7.4
7.6
7.7
7.8
21.7
22.2
22.7
23.2
8.7
9.0
9.1
9.4
13.1
13.1
13.5
13.8
6.0
6.0
5.9
5.8
1956: I.
II
III
IV..
121.9
123.1
124.1
125.2
22.5
22.3
22.1
22.2
99.4
100.8
102.0
103.0
55.6
56.8
57.6
58.2
32.6
33.5
33.7
34.3
23.0
23.4
23.8
23.9
14.5
14.4
14.8
15.0
6.5
6.5
6.5
6.5
7.9
7.9
8.3
8.4
23.3
23.5
23.4
23.4
9.5
9.3
9.1
9.1
13.8
14.2
14.3
14.3
6.0
6.1
6.2
6.4
1957: I
II.
Ill
IV
125.7
126.3
127.1
126.4
22.2
22.3
22.4
22.7
103.5
104.0
104.6
103.7
58.6
58.7
58.9
57.8
34.6
34.8
35.1
34.3
24.0
23.9
23.8
23.5
14.9
15.0
14.9
14.8
6.5
6.6
6.7
6.6
8.4
8.4
8.3
8.2
23.5
23.8
24.1
24.2
9.1
9.3
9.6
9.8
14.4
14.5
14.5
14.5
6.5
6.5
6.7
6.9
1958: I
II
III
IV
125.0
123.8
123.9
124.9
22.9
23.1
23.3
23.5
102.1
100.7
100.5
101.4
56.8
55.5
55.3
55.8
33.3
32.2
32.1
32.3
23.5
23.3
23.2
23.5
14.5
14.5
14.6
14.8
6.4
6.3
6.4
6.5
8.2
8.2
8.2
8.2
23.9
23.7
23.8
24.0
9.5
9.2
9.0
9.1
14.5
14.6
14.8
14.9
6.9
6.9
6.9
6.9
1959: I
II..
Ill
IV
125.9
128.1
128.2
129.8
23.6
23.6
23.5
23.6
102.3
104.6
104.7
106.2
56.2
57.1
57.0
57.8
32.6
33.3
33.0
33.5
23.5
23.8
24.0
24.o
15.0
15.5
15.8
16.3
6.7
7.0
6.9
7.1
8.3
8.6
8.8
9.2
23.3
25.0
25.0
25.1
9.3
9.8
9.7
9.6
15.0
15.2
15.3
15.6
6.9
6.9
6.9
7.0
132.2
133.1
133.9
133.2
23.5
23.6
23.7
23.8
108.7
109.6
110.2
109.5
59.0
59.4
59.8
59.2
34.5
34.6
34.7
34.1
24.5
24.8
25.1
25.0
16.5
16.7
16.5
16.5
7.3
7.3
7.2
7.1
9.1
9.4
9.2
9.3
26.2
26.4
26.7
26.5
10.3
10.4
10.6
10.5
15.9
16.0
16.1
16.0
7.0
7.1
7.2
7.3
..
1951: I
II
III.
IV
1960:
I.
II..
Ill
IV. .
..
.
...
1. Change in farm inventory is classified as nondurable in the breakdown of GNP by major
type of product.
2. Change in all other inventories is classified as durable in the breakdown of GNP by
major type of product.
NOTE.—Quarterly estimates of stocks of business inventories in constant (1958) prices were
derived with the same type of procedure used for annual estimates in "Stocks of Business
Inventories in the United States, 1928-71," SURVEY OF CURRENT BUSINESS, December 1972.
This procedure establishes, for each major industry, the stock of inventories in 1958 prices for
a point in time. Estimates for other periods are obtained by chaining to this pstimate inventory
changes in constant (1958) prices as published in the national income and product accounts.
The constant-price estimates are derived from book value inventories estimated by the Bureau
of the Census for manufacturing and trade and by BEA for other industries. Adjustment of
book values to constant prices takes account of the extent that LIFO (last in-first out) and
non-LIFO inventory accounting methods are used in each industry. To the extent that the
LIFO proportion may have increased since 1970 when BEA surveyed the matter, the stock
estimates in constant prices are probably low for recent years. Details may not add to totals
because cf rounding.
August 1974
SURVEY OF CURRENT BUSINESS
51
Stocks of Business Inventories in Constant Dollars, End of Quarter, 1947-74.—'Continued
[Billions of 1958 dollars]
Nonfarm
End of quarter
Total
Farm 1
Manufacturing
Total
1961: I
II
Ill
IV. .
Total
Retail
Wholesale
Durable
Nondurable
Total
Durable
Nondurable
Total
Durable
Nondurable
All
other
industries 2
132.4
132.9
133.8
135.2
23.8
23.9
24.0
24.0
108.6
109.0
109.9
111.2
58.7
58.6
59.1
60.3
33.4
33.2
33.6
34.4
25.3
25.5
25.5
25.9
16.7
16.9
17.1
17.1
7.1
7.0
7.2
7.2
9.6
9.9
9.9
9.9
25.7
25.9
26.0
26.0
9.8
9.8
9.7
9.6
15.9
16.1
16.2
16.4
7.6
7.6
7.7
7.9
136.9
138.3
139.6
141.2
24.1
24.2
24.4
24.7
112.7
114.1
115.2
116.5
61.2
61.8
62.5
63.1
35.2
35.6
35.9
36.1
26.0
26.2
26.6
27.0
17.2
17.5
17.5
17.6
7.2
7.3
7.4
7.4
10.0
10.1
10.1
10.2
26.4
26.9
27.2
27.7
9.8
10.0
10.2
10.4
16.7
16.9
17.0
17.3
7.9
8.0
8.0
8.0
142.3
143.5
145.0
147.0
24.9
25.0
25.2
25.5
117.4
118.5
119.8
121.5
63.5
63.9
64.3
65.1
36.4
36.9
37.2
37.5
27.1
26.9
27.1
27.6
17.8
18.2
18.8
19.0
7.4
7.6
7.7
7.7
10.4
10.7
11.1
11.3
28.1
28.2
28.5
29.1
10.5
10.6
10.7
11.2
17.5
17.7
17.8
17.9
8.1
8.2
8.3
8.4
1964: I. .
II
Ill
148.2
149.7
150.9
152.8
25.4
25.2
25.0
24.9
122.8
124.5
125.9
127.9
65.4
65.8
66.5
68.0
37.7
38.1
38.6
39.7
27.7
27.7
27.9
28.4
19.2
19.6
19.8
20.2
7.7
7.9
8.1
8.3
11.5
11.7
11.8
11.9
29.6
30.3
30.6
30.6
11.6
11.9
12.2
11.8
18.0
18.4
18.5
18.8
8.5
8.8
9.0
9.1
1965: I
II
165.3
157.4
159.6
161.9
25.1
25.3
25.6
25.9
130.3
132.1
134.0
136.0
68.7
69.5
70.7
71.8
40.2
41.1
42.1
42.8
28.4
28.4
28.6
29.0
20.6
20.7
20.9
21.0
8.6
8.6
8.8
8.9
12.0
12.1
12.1
12.1
31.7
32.3
32.6
33.2
12.8
13.2
13.5
13.6
19.0
19.1
19.1
19.7
9.3
9.6
9.8
10.0
164.6
168.4
171.2
175.8
25.9
25.9
25.8
25.7
138.6
142.5
145.4
150.1
73.3
75.4
77.8
80.3
43.8
45.2
47.3
49.2
29.5
30.3
30.5
31.2
21.4
21.8
22.0
23.1
9.3
9.5
9.6
10.1
12.1
12.3
12.4
13.0
33.7
34.9
35.2
36.0
14.0
14.7
14.8
15.2
19.8
20.2
20.5
20.8
10.2
10.3
10.4
10.7
178.1
179.1
181.2
183.5
25.7
25.8
26.1
26.4
152.4
153.3
155.1
157.1
82.2
83.1
83.7
84.2
50.3
50.9
51.3
51.8
31.8
32.2
32.4
32.4
23.4
23.1
23.5
24.2
10.1
10.0
10.1
10.4
13.2
13.1
13.4
13.8
35.9
35.8
36.2
36.4
14.9
14.6
14.8
14.8
21.0
21.3
21.3
21.5
10.9
11.2
11.8
12.3
184.2
186.4
188.1
190.0
26.4
26.5
26.5
26.6
157.7
159.9
161.6
163.4
84.5
85.8
87.3
88.2
52.0
52.8
53.7
54.2
32.5
33.0
33.6
34.1
24.0
24.3
24.3
24.6
10.3
10.5
10.7
11.0
13.7
13.8
13.6
13.6
36.6
37.0
37.3
37.7
15.0
15.5
15.5
15.8
21.6
21.6
21.8
21.9
12.7
12.7
12.6
12.9
191.4
193.2
195.5
196.7
26.6
26.6
26.6
26.6
164.9
166.6
168.9
170.1
88.9
89.7
90.6
91.0
54.5
55.2
55.5
55.7
34.4
34.5
35.1
35.3
24.8
25.1
25.2
25.5
11.0
11.3
11.4
11.6
13.8
13.8
13.8
13.9
37.9
38.2
39.1
39.4
15.9
15.8
16.5
16.6
22.0
22.4
22.7
22.8
13.2
13.6
13.9
14.1
197.1
198.2
199.5
200.6
26.7
26.7
26.7
26.8
170.5
171.5
172.7
173.8
91.5
91.9
92.4
93.0
56.1
56.1
56.6
56.8
35.4
35.8
35.8
36.2
25.8
26.1
26.4
27.2
11.7
11.6
11.9
12.1
14.2
14.5
14.5
15.2
39.1
39.5
39.8
39.1
16.4
16.4
16.6
15.6
22.7
23.1
23.2
23.5
14.1
14.1
14.2
14.5
202.2
203.9
204.8
205.9
27.1
27.4
27.7
27.9
175.1
176.5
177.0
178.0
92.7
92.7
91.9
91.6
56.4
56.3
55.4
54.8
36.3
36.4
36.4
36.8
27.1
27.4
27.6
28.4
12.1
12.3
12.5
12.9
15.0
15.1
15.2
15.4
40.5
41.3
42.5
42.7
16.5
17.1
18.0
17.9
24.0
24.2
24.6
24.8
14.7
15.1
15.0
15.3
1972: I
II
206.9
208.6
210.7
212.9
28.1
28.3
28.5
28.6
178.8
180.3
182.3
184.4
91.9
92.4
93.6
94.4
55.1
55.7
56.6
57.5
36.7
36.7
37.0
37.0
28.5
28.7
29.2
29.6
13.0
13.2
13.5
13.9
15.5
15.4
15.7
15.7
43.0
43.4
43.5
44.1
17.9
18.0
18.0
19.0
25.1
25.4
25.5
25.0
15.5
15.8
16.0
16.3
1973: I .
214.8
216.7
218.7
223.7
29.0
29.4
29.9
30.4
185.7
187.3
188.9
193.3
95.2
96.1
97.1
99.0
58.4
59.2
60.6
62.1
36.8
36.9
36.5
36.9
29.8
29.6
29.6
30.6
14.1
14.3
14.3
14.7
15.6
15.3
15.2
15.8
44.3
45.1
45.6
47.0
19.0
19.5
19.7
20.7
25.3
25.6
25.8
26.4
16.4
16.5
16.6
16.8
226.4
228.4
30.9
31.3
195.5
197.1
100.6
101.5
63.3
63.5
37.3
38.0
31.3
31.8
15.2
15.2
16.1
16.6
46.7
46.9
20.3
19.6
26.5
27.2
16.9
17.0
1962: I
II
. .
Ill
IV
1963: I
II
III . .
IV
IV
Ill
IV
1966: I
II
III
IV
1967: I
II
III
IV
.
1968: I
II
III
. .
IV
1969: I
. .
II
III
IV
1970: I
II
III.
.
.
IV
1971: I
II
III
IV
Ill
IV
II
III
IV. .
1974: I
II
. . . . . ..
1. Change in farm inventory is classified as nondurable in the breakdown of GNP by major
type of product.
2. Change in all other inventories is classified as durable in the breakdown of GNP by
major type of product.
NOTE .—Quarterly estimates of stocks of business inventories in constant (1958) prices were
derived with the same type of procedure used for annual estimates in "Stocks of Business
Inventories in the United States, 1928-71," SURVEY OF CURRENT BUSINESS, December 1972.
This procedure establishes, for each major industry, the stock of inventories in 1958 prices for
a point in time. Estimates for other periods are obtained by chaining to this estimate inventory
changes in constant (1958) prices as published in the national income and product accounts.
The constant-price estimates are derived from book value inventories estimated by the Bureau
of the Census for manufacturing and trade and by BE A for other industries. Adjustment of
book values to constant prices takes account of the extent that LIFO (last in-first out) and
non-LIFO inventory accounting methods are used in each industry. To the extent that the
LIFO proportion may have increased since 1970 when BEA surveyed the matter, the stock
estimates in constant prices are probably low forr rrecent years. Details may not add to totals
because of rounding.
Table 2.—Gross Domestic Product: Quarterly, 1947-73—Continued
Table 1.—Gross Domestic Product: Annually, 1929-73
Billions of dollars
Index,
1958=100
Current
dollars
1958
dollars
Implicit
price
deflator
Current
dollars
1958
dollars
1929..
1930
102.3
89.6
202.2
181.9
50.60
49.28
n.a.
-12.4
n.a.
-10.0
n.a.
-2.6
1931...
1932
1933 _
1934
1935
75.3
57.7
55.3
64.8
71.9
167.9
142.9
140.3
153.3
168.4
44.84
40.34
39.39
42.24
42.68
-16.0
-23.4
-4.1
17.1
11.0
-7.7
-14.9
-1.8
9.3
9.9
-9.0
-10.0
-2.4
7.2
1.0
1936 ..
1937
1938 .
1939
1940
82.2
90.2
84.3
90.2
99.3
192.0
202.4
191.8
208.4
226.3
42.79
44.54
43.94
43.26
43.90
14.3
9.7
—6. 5
7.0
10.1
14.0
5.4
-5.2
8.7
8.5
.3
4.1
-1.3
-1.5
1.5
124.2
157.5
191.2
209.7
211.6
262.8
296.9
336.3
360.4
354.5
47.25
53.06
56.85
58.18
59.69
25.0
26.9
21.4
9.7
.9
16.1
13.0
13.3
7.1
-1.6
7.6
12.3
7.2
2.3
2.6
1946 ..
1947
1948
1949 ..
1950
207.9
230.5
256.6
255.5
283.6
311.7
308.9
322.5
322.9
354.0
66.72
74.63
79.55
79.12
80.12
-1.7
10.9
11.3
-.4
11.0
-12.1
-.9
4.4
.1
9.6
11.8
11.9
6.6
-.5
1.3
1951 ._
1952
1953
1954. _.
1955
327.1
344.2
363.3
363.2
396.2
382.2
393.9
411.5
405.5
436.2
85.57
87.40
88.29
89.58
90.82
15.3
5.2
5.5
.0
9.1
8.0
3.0
4.5
-1.5
7.6
6.8
2.1
1.0
1.5
1.4
1956
1957
1958
1959
1960
417.2
438.9
445.3
481.5
501.4
444.1
450.4
445.3
473.7
485.4
93.94
97.46
100.00
101. 64
103. 30
5.3
5.2
1.5
8.1
4.1
1.8
1.4
-1.1
6.4
2.5
3.4
3.7
2.6
1.6
1.6
517.2
557.1
587.1
628.5
680.7
494.2
526.4
547.6
577.2
613.7
104.65
105. 82
107. 22
108. 89
110. 91
3.2
7.7
5.4
7.0
8.3
1.8
6.5
4.0
5.4
6.3
1.3
1.1
1.3
1.6
1.9
745.8
789.4
859.5
926.0
972.5
654.1
670.8
702.2
721.6
718.5
114.00
117.68
122. 40
128.32
135.34
9.6
5.9
8.9
7.7
5.0
6.6
2.6
4.7
2.8
-.4
2.8
3.2
4.0
4.8
5.5
1048. 9
1151.5
1286. 5
741.5
787.7
833.9
141. 46
146.18
154. 27
7.9
9.8
11.7
3.2
6.2
5.9
4.5
3.3
5.5
Year
1941
1942
1943
1944
1945
1961
1962
1963
1964
1965
1966
1967
1968
1969
1970
August 1974
SUEVEY OF CUREENT BUSINESS
52
.
..
..
.
-
-
1971
1972
1973. .
Percent change from
preceding year
Quarter
Implicit
price
deflator
n.a. Not available.
Quarter
Billions of dollars
Index,
1958 = 100
1952: I . .
II
Ill
IV .
1953: I
II
Ill
IV
1954: I
II
III
IV..
1955: I
II
III
IV
1956: I.
II
Ill
IV
1957: I
..
II
Ill
IV
..
1958: I.
II.. .
Ill
IV
. .
1959: I.
.
II
Ill
IV
1960: I.
II
III
IV
1961: I.
.
II
III
IV
1962: I
II
III
IV
1963: I
II
Ill
IV
1964: I
II
Ill
IV
1965: T
II
-.
IV
Current
dollars
Implicit
price
deflator
1958
dollars
1966: I
II
Ill
Percent change from
preceding quarter
Current
dollars
1958
dollars
Seasonally adjusted at annual rates
1947: I..
II
Ill
IV
1948: I
II.
Ill .
IV
1949: I
II.
III.. .
IV
1950: I
II.
Ill
IV
1951: I .
II... .
Ill
IV
222.8
226.8
231.0
241. 2
247.1
254.6
261.5
262.9
257.4
254.2
256.1
254.1
265.0
274.4
291.7
303.3
316.9
324.4
331.5
335.4
305.3
307.9
308.6
313.5
316.0
321.7
324.7
327.5
323.2
321.2
324.8
322.2
338.4
347.3
361.4
368.8
373.7
380.3
387.5
387.4
72.98
73.67
74.86
76.95
78.21
79.14
80.54
80.28
79.65
79.13
78.84
78.85
78.32
79.00
80.73
82.23
84.79
85.32
85.54
86.57
8.1
7.4
7.7
18.8
10.1
12.6
11.3
2.2
-8.1
-5.0
3.0
-3.1
18.4
14.9
27.8
16.7
19.2
9.9
9.0
4.8
n.a.
3.5
1.0
6.4
3.2
7.5
3.8
3.5
-5.1
-2.5
4.5
-3.1
21.6
11.0
17.2
8.5
5.4
7.2
7.9
-.1
. -.
IV
Implicit
price
deflator
n.a.
3.8
6.7
11.6
6.7
4.8
7.3
-1.3
-3.1
-2.6
-1.5
.1
-2.7
3.5
9.1
7.6
13.1
2.5
1.0
4.9
Index,
1958=100
Current
dollars
Implicit
price
deflator
1958
dollars
Percent change from
preceding quarter
Current
dollars
1958
dollars
Implicit
price
deflator
Seasonally adjusted at annual rates
Ill
Table 2.— Gross Domestic Product: Quarterly, 1947-73
Billions of dollars
1967: I
II
III
IV
1968: I
II
III
IV
1969: I
II
Ill
IV
1970: I
II
HI
IV
971: I.
~-..
II
III
IV
1972: I
II
Ill
IV
19731 I
II
Ill
IV
n.a.
.
338.2
337.8
344.3
356.4
362.9
366.1
364.6
359.5
359.1
358.8
363.2
371.6
384.4
392.7
400.7
406.9
408.4
414.1
418.5
427.5
434.8
437.5
444.0
439.5
432.8
436.3
449.3
462.3
471.9
484.9
481.9
488.0
500.7
502.3
501.9
500.7
500.7
512.1
521.2
534.8
544.9
554.0
661.2
568.3
573.9
580.9
591.4
602.5
613.8
624.1
634.9
641.0
658.4
671.2
687.0
706.2
725.5
739.1
751.9
766. 5
770.3
780.6
796.0
810.8
829.7
852.4
870.3
885.4
902.4
919.2
937.6
944.8
954.0
966.5
982.5
986.8
1, 022. 7
1, 040. 7
1, 056. 0
1,076.0
1, 109. 2
1, 137. 1
1, 162. 4
1, 197. 4
1,240.5
1,269.9
1,300.6
1,335.2
390.3
388.4
392.7
404.1
410.8
415.0
412.4
407.5
401.4
400.6
405.7
413.9
426.2
433.8
440.4
444.5
441.5
443.6
442.5
448.4
451.4
451.0
453.0
446.2
435.7
437.5
448.6
459.4
466.6
477.9
472.8
477.9
487.9
487.4
485.1
481.2
479.7
490.0
498.4
508.7
516.5
524.4
530.1
534.4
537.7
542.7
551.4
558.8
567.2
574.8
581.9
584.5
597.4
606.0
618.6
633.0
645.3
650.9
656.3
664.1
662.7
667.7
674.2
678.7
688.5
700.5
707.7
711.9
718.1
721.8
725.3
721.3
717.1
718.5
723.2
715.1
732.7
736.7
743. 0
753.4
766.5
782.3
793.2
809.0
827.0
832.4
835.7
840.7
86.66
86.99
87.68
88.21
88.33
88.23
88.39
88.23
89.47
89.56
89.51
89.78
90.19
90.52
90.99
91.54
92.50
93.34
94.59
95.33
96.33
97.01
98.01
98.49
99.34
99.73
100.15
100.63
101. 16
101. 46
101. 92
102. 12
102. 62
103.06
103. 46
104. 06
104. 37
104. 52
104. 56
105. 12
105. 49
105. 64
105. 86
106. 34
106.73
107.04
107. 26
107. 82
108. 21
108. 59
109.12
109.67
110. 21
110. 76
111. 07
111. 57
112. 44
113. 54
114. 56
115. 43
116.24
116.89
118.06
119. 47
120.51
121. 68
122. 98
124.37
125. 67
127.36
129.27
130. 99
133. 03
134. 51
135. 86
137. 98
139. 58
141. 27
142. 13
142. 82
144. 71
145. 36
146. 54
148.01
150.00
152.57
155.63
158. 81
3.3
-.4
7.9
14.8
7.4
3.6
-1.7
-5.4
-.4
-.3
4.9
9.7
14.4
8.9
8.4
6.4
1.5
5.7
4.3
8.9
7.0
2.5
6.1
-4.0
-6.0
3.3
12.5
12.1
8.6
11.5
-2.4
5.2
10.8
1.3
-.4
-.9
-.1
9.5
7.2
10.9
7.8
6.9
5.3
5.2
4.0
5.0
7.5
7.7
7.7
6.9
7.1
3.9
11.3
8.0
9.8
11.6
11.4
7.7
7.1
8.0
2.0
5.4
8.2
7.6
9.7
11.4
8.7
7.1
7.9
7.7
8.2
3.1
3.9
5.4
6.8
1.7
15.4
7.2
6.0
7.8
12.9
10.5
9.2
12.6
15.2
9.8
10.0
11.1
2.9
-1.9
4.5
12.1
6.9
4.1
-2.4
-4.7
-5.8
-.8
5.2
8.3
12.4
7.3
6.2
3.8
-2.6
1.9
-1.0
5.5
2.6
-.4
1.8
-5.9
-9.1
1.7
10.6
9.9
6.3
10.1
-4.2
4.3
8.7
-.4
-1.9
-3.2
-1.2
8.8
7.1
8.5
6.3
6.3
4.4
3.3
2.4
3.8
6.6
5.4
6.2
5.4
5.0
1.9
9.1
5.9
8.5
9.6
8.0
3.5
3.4
4.8
-.8
3.1
3.9
2.7
5.9
7.2
4.2
2.4
3.5
2.1
2.0
-2.2
-2.3
.8
2.6
-4.4
10.2
2.2
3.4
5.7
7.1
8.5
5.7
8.2
9.2
2.6
1.6
2.4
.4
1.5
3.2
2.4
.5
-.4
.7
-.7
5.7
.4
-.3
1.2
1.8
1.5
2.1
2.4
4.3
3.7
5.4
3.2
4.2
2.9
4.2
1.9
3.5
1.6
1.7
1.9
2.1
1.2
1.8
.8
2.0
1.7
1.6
2.3
1.2
.6
.1
2.2
1.4
.5
.9
1.8
1.5
1.2
.8
2.1
1.4
1.4
2.0
2.0
2.0
20
1.1
1.8
3.1
4.0
3.6
3.0
2.9
2.3
4.1
4.8
3.5
3.9
4.3
4.6
4.2
5.5
6.1
5.4
6.4
4.5
4.1
6.4
4.7
4.9
2.5
1.9
5.4
1.8
3.3
4.1
5.5
7.0
8.3
8.4
Not available.
U. S. GOVERNMENT PRINTING OFFICE : 1974 O - 555-443
CURRENT BUSINESS STATISTICS
JLHE STATISTICS here update series published in the 1973 edition of BUSINESS STATISTICS, biennial statistical supplement to the SURVEY
OF CURRENT BUSINESS. That volume (available from the Superintendent of Documents for $5.15) provides a description of each series, references
to sources of earlier figures, and historical data as follows: For all series, monthly or quarterly, 1969 through 1972 (1962-72 for major quarterly
series), annually, 1947-72; for selected series, monthly or quarterly, 1947-72 (where available). Series added or significantly revised after the 1973
BUSINESS STATISTICS went to press are indicated by an asterisk (*) and a dagger (f), respectively; certain revisions for 1972 issued too late for
inclusion in the 1973 volume appear in the monthly SURVEY beginning with the August 1973 issue. Also, unless otherwise noted, revised monthly
data for periods not shown herein corresponding to revised annual data are available upon request.
The sources of the data are given in the 1973 edition of BUSINESS STATISTICS; they appear in the main descriptive note for each series, and
are also listed alphabetically on pages 189-90. 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.
1971
Unless otherwise stated in footnotes below, data
through 1972 and descriptive notes areas shown in
the 1973 edition of BUSINESS STATISTICS
1
1972
1972
1971
1973
1
II
III | IV
I
|
II
1974
1973
[ III
IV
I
II
III
IV
i | n
1,358.8 '1, 387.3
Annual total
Seasonally adjusted quarterly totals at annual rates
GENERAL BUSINESS INDICATORS—Quarterly Series
NATIONAL INCOME AND PRODUCT!
1,158.0
1,294.9
1,047.3
1,061.3
1,083.2
1,115.0
1,143.0
1,169.3
1,204.7
1,248.9
1,277.9
1,308.9
1,344.0
Personal consumption expenditures, total, .do
667.1
729.0
805.2
662.1
672.1
683.8
701.5
720.6
736.8
757.2
781.7
799.0
816.3
823.9
840.6
r
Durable goods total?
do
Automobiles and parts
..do
Furniture and household equipment do
103 9
46 6
42.3
118 4
53 1
48.7
130.3
57.5
55.0
102.1
45.5
41.7
105.6
48.2
42.1
107.4
48.1
43.9
112.1
49.4
47.1
116.2
51.5
47.9
121.2
55.3
49.3
124.3
56.4
50.7
132.4
60.4
54.3
132.1
59.2
54.9
132. 4
59.3
55.5
124.3
51.2
55.4
123.9
48.0
57.5
' 129. 5
'50.6
'59.5
Nondurable goods total 9
Clothing and shoes
Food and beverages
Gasoline and oil
- do
do
do _
do
278 4
57.3
135.9
23 5
299 7
63.0
143.7
25 0
338.0
70.2
165.1
28.3
277.8
57.2
135.6
23.2
279.5
57.6
136.9
23.6
283.4
58.5
137.6
24.3
288.4
60.0
139.3
24.6
297.4
62.5
142.4
24.5
302.0
63.7
144.7
25.1
310.9
66.0
148.5
25.8
323.3
69.1
155.9
26.8
332.7
70.1
160.9
28.0
343.8
70.6
169.1
28.7
352.1
70.9
174.5
29.8
364.4
72.8
180.1
31.5
' 375. 8
' 74.4
' 183. 5
'36.8
Services total 9
Household operation.
Housing
Transportation
do
do
do
- do
284.8
39.4
99.1
20.4
310.9
43.3
107.9
21.8
336.9
47.3
116.4
23.4
282.2
39.1
98.0
20.2
287.0
39.6
100.0
20.7
293.0
40.5
102.6
21.1
301.0
41.2
105.1
21.5
307.0
42.6
106.9
21.6
313.6
43.9
108. 9
21.9
322.0
45.5
110.7
22.3
325.9
45.6
113.1
22.8
334.2
46.6
115.6
23.1
340.1
48.3
117.0
23.6
347.4
48.7
119.7
24.1
352.4
49.2
122.2
25.0
r 363. 8
'51.7
124. 9
' 25. 6
Gross private domestic investment, total.. .do
153.7
179.3
209.4
154.0
153.5
160.8
169.4
175.5
182.1
190.2
199.0
205.1
209.0
224.5
210.5
'211.8
147.4
104.6
37.9
66.6
42.8
42.3
170.8
116.8
41.1
75.7
54.0
53.4
145.9
104.3
37.8
66.5
41.6
41.1
149.7
104.8
38.5
66.3
44.9
44.2
155.4
107.8
38.4
69.4
47.6
47.0
167.6
114.7
41.0
73.7
52.9
52.3
8.5
7.8
8.1
6.8
3.8
2.4
5.4
4.4
164.5
112.7
40.7
72.0
51.8
51.2
6.3
4.9
194.0
136.8
47.0
89.8
57.2
56.7
15.4
11.4
5.0
4.1
8.0
7.0
171.9
117.5
40.6
76.8
54.5
53.9
10.2
189.0
130.5
44.6
85.9
58.5
58.0
10.0
194.4
135.6
46.2
89.4
58.7
58.4
10.7
197.1
139.0
47.9
91.1
58.1
57.6
11.8
9.6
179.2
122.5
42.2
80.3
56.7
56.2
11.0
10.4
195.5
141.9
49.3
92 6
53.6
53.0
28.9
24.0
193.6
145.2
51.3
93.9
48.4
47.8
16.9
13.1
-.2
3.9
-7.1
69.1
76.1
-6.9
68.8
75.7
-4.8
73.3
78.1
-5.3
78.5
83.8
.5
6.7
9.3
68.2
68.1
-3.4
62.0
65.4
-.8
100.4
96.4
2
66.5
66.6
.1
65.4
65.6
-6.0
72.4
78.4
88.8
89.5
95.4
94.9
103.7
96.9
113.6
104.3
11.3
131.2
119. 9
'2.0
' 141. 0
' 139. 0
234.2
97.6
71.2
136.6
255.7
104.9
74.8
150.8
276.4
106.6
74.4
169. 8
231.3
96.2
70 8
135 1
235.7
97.9
70.0
137.8
242.1
100.5
72.1
141.6
251.1
105.6
75.9
145.5
253.8
105.9
75.9
147.9
255.1
102.7
72.6
152. 4
262.6
105.2
74.7
157.4
269.0
106.4
75.0
162.6
273. 3
106.2
74.0
167.1
276.9
105.3
73.3
171.6
286.4
108.4
75.3
177. 9
296.3
111.5
75.8
184.8
' 304. 4
' 114. 3
' 76.6
' 190. 1
1,039.1 1,057.5
495.7
486 8
193.3
188 1
302.4
297.7
448.5
442.8
113.3
109.6
1,077.8
501.8
197. 0
304.7
459. 3
116.8
1,110.0 1,135.1 1,159.1
529.4
541.0
514.3
210.6
218.3
204.6
318.9
322. 7
309.7
481.5
492. 4
472.1
125.6
124.1
123.6
1,193.7
556.2
223.6
332. 6
506.5
130.9
Gross national product, total!- -
bil. $. . 1,054.9
Fixed investment
Nonresidential
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 .
Govt. purchases of goods and services, total _ do
Federal
-do
National defense
do
State and local
-- do
By major type of product:!
Final sales total
Goods total
Durable goods
Nondurable goods
Services
..
Structures
.-
..
do
do
do
do
do
- do
1,048.6
491.6
191.8
299.8
446.0
111.0
1,149.5 1,279.6
535. 2
607 3
214.3
240.9
321.0
366.5
488.1
534.4
126.1
137.8
6.5
7.7
7.4
869. 1
' 198. 3
r 149. 4
52.2
97.2
48.8
48.0
13.5
10.4
1,238.9 1,267.2 1,297.0 1,315.1 1,341.9 '1,373.8
635.0 ' 651. 3
624.7
618.0
600. 9
585.8
242. 3 ' 248. 5
240.6
241.2
243. 9
237. 8
392.8 ' 402. 9
374.2
384.1
359. 7
347. 9
569.7 ' 582. 8
553.2
540.2
516.0
528.3
137.2
137.1 ' 139. 7
138.8
137.1
138.0
6.3
2.4
4.0
8.5
7.1
1.4
15.4
8.1
4.6
3.5
3.8
.7
3.1
5.4
.3
5.1
5.0
2.7
2.2
8.0
5.8
2.2
10.2
10.7
11.8
9.0
2.9
28.9
14.8
14.1
16.9
6.8
3.4
11.0
13.2
-2.2
10.0
9.4
6.0
746 3
792 5
839 2
742 1
747 2
759 1
770 9
786 6
798 1
814 2
832 8
837 4
840.8
845.7
830.5
' 828. 8
496.4
527.3
552.1
493.8
497.7
504.1
512.8
523.2
531.2
542.2
552. 9
553.7
555. 4
546.3
539.7
' 542. 7
do
do
do
9? 5
211 3
192 6
104 9
220 2
202 2
113 6
99g 6
93 8
211 4
19? 5
96 3
212 6
195 2
99 8
214 4
198 6
103 0
219 8
200 4
106 8
221.3
203.0
110 1
225. 4
206.6
117.2
228.7
207.1
115.7
228. 3
209.7
114.3
230.0
211.2
107.2
227.4
211.7
105.2
223. 9
210.6
'106.8
' 223. 6
209 9
90 4
211 5
191 9
Gross private domestic investment, total., do
111 1
125 0
138 1
111 8
109 9
114 8
119 4
123 2
126.6
130.9
134.4
136.3
135.8
145.8
133.3
' 130. 3
127.1
92.2
35.0
7.3
128.4
94.3
34.1
7.8
127.7
95.1
32.6
8.0
125.8
96.0
29.8
20.0
122. 7
96.3
26.4
10.6
1.4
3.5
Change in business inventories
Durable goods
Nondurable goods
do
do
- do -
6.1
3.9
7.7
3.0
8.7
8.2
'
' 13.5
-1.8
' 15.4
GNP in constant (1958) dollars!
Gross national product total!
- bil. $
Personal consumption expenditures, total. _do
Durable goods
Nondurable goods
Services
_ .,
9
Fixed investment
Nonresidential
.-.
Residential structures
Chartge in business inventories
do
do
do
. do
105 8
76 7
29.1
53
118 0
83 7
34.3
7 o
173
94 4
32.9
10" 8
105 0
76 6
28.3
68
106 5
76 2
30.3
34
110 2
78 6
31.6
4 6
115 2
81 3
33.8
4 2
116 6
82 4
34.2
6 6
118. 1
83.8
34.3
8.5
122.0
87.2
34.8
8.8
Net exports of goods and services
do
— 5
—3 0
4 6
— 9
— l
—2.4
-4.9
-3.6
-1.4
-1.9
Govt. purchases of goods and services, total- do
Federal
do
State and local
do
139.3
60 9
78.4
143.1
61 0
82.1
144.4
57 3
87.0
137.5
59 7
77.8
139.7
61 3
78.4
' Revised.
v Preliminary.
!Revised series. Estimates of national income and product
and personal income have been revised back to 1971 (see p. 11 if. of the July 1974 SURVEY);
122. 2
' 96. 5
' 25.7
'8.2
5.8
7.9
11.5
' 9.9
143.7
56.2
87.5
145.7
56.4
89.3
146.0
56.3
89.7
' 145. 8
'56.3
' 89. 5
144.1
143. 9
143.0
141.8
143.8
143.8
142.6
57.7
58.9
59.5
59. 2
62.5
62. 9
62.4
86.2
85.2
82.4
83.8
80.2
80.9
81.3
revisions prior to May 1973 for personal income appear on pp. 22-23 of the July 1974 SURVEY;
9 Includes data not shown separately.
S-l
SURVEY OF CURRENT BUSINESS
S-2
Unless otherwise stated in footnotes below, data
through 1972 and descriptive notes are as shown in
the 1973 edition of BUSINESS STATISTICS
1971
|
1972
1973
1971
III
Annual total
August 1974
1972
I
IV
1973
III
II
I
IV
II
1974
IV
III
I
II '
III
GENERAL BUSINESS INDICATORS—Quarterly Series—Continued
NATIONAL INCOME AND PRODUCT— Con.
Quarterly Data Seasonally Adjusted at Annual Rates
Implicit price deflators: t
Gross national product . _
Index, 1058=100
Personal consumption expenditures. _ _ _ _ d o .
Gross private domestic investment:
Fixed investment
_.do ..
Nonresidential
do
Residential structures
do .
Govt. purchases of goods and services
do. ..
National income totalf
bil. $
Compensation of employees, total
Wages and salaries, total
._
Private
.Military
._.
Government civilian
Supplements to wages and salaries
do ..
do
do ..
do
do
do
Proprietors' Income total 9
Business and professional 9
Farm
_. _ _
Rental income of persons
Corporate profits and inventory valuation
ment total
By broad industry groups:
Financial institutions
_. Nonfinancial corporations, total
Manufacturing, total
Nondurable goods industries
Durable goods Industries
.
do
do
do
do
167. 39
160. 2
146. 12
138.2
154 31
145 9
142 03
135 0
142. 70
135.6
144. 62
136.8
145. 31
137.7
146. 50
138.7
147. 96
139.7
149. 95
141.4
152. 61
144.3
155. 67
147.0
158. 93
150.8
163. 61
155.8
139.3
136 3
147 4
168.1
144.8
139 6
157.4
178.6
152 4
144 9
174 0
191 5
140
137
148
168
5
4
2
7
140.9
137 1
150 4
169.8
142.8
138 5
153.2
174.6
143.8
139.3
154.6
176.5
145.6
140.2
158.9
179.9
146.9
140.5
162.8
183.6
148.7
141.7
167.1
186.7
151.4
143.9
172.1
189.9
154.3
146.1
178.1
192.6
155.4
147.9
179.7
196.5
157.8
150.7
183.8
202.9
857 7
946 5
1 065 6
862 7
881 6
912 3
932 5
954 3
987.-0
643 1
707 1
647 8
659 7
683 8
699.0
712.6
732.9
759.1
776.7
793.3
814.8
828.8
r 848. 3
631.2
495.3
19.9
116.0
81.4
649.6
508.7
21.2
119.7
83.4
667.6
525.0
20.8
121.9
91.5
683.6
538.7
20.3
124.5
93.1
698.2
550.8
20.2
127.2
95.1
717.0
565.8
21.0
130.2
97.7
727 6
573.8
21.0
132 8
101.2
r 744. 6
r 588. 3
20.9
135.4
103.7
786 0
1 027.6 1,051.2
1 077.3 1,106.3
r
r
T
r
162. 3
154. 9
190. 0
r 208. 8
1 118 8 p\, 137.1
573 6
449 5
19 4
104 7
69.5
626 8
491 4
20.5
114 8
80.3
691 6
545 1
20 6
196 0
94 4
577
452
18
106
70
5
2
9
3
3
587 8
461 0
19.6
107 3
71.9
606 6
475 1
20.9
110 6
77.1
619.7
486.7
20.1
113.0
79.3
69
52
17
25
75
54
21
25
96
57
38
26
67
52
15
25
9
4
5
4
71 0
52 8
18.2
25 4
72 9
53 7
19.2
25 5
74.6
54.3
20.3
24.4
75.8
55.5
20.3
26.8
80.1
56.1
24.0
26.7
89.1
57.0
32.1
26.3
92.8
57.1
35.6
25.7
99.3
57.7
41.5
26.2
103.2
58.4
44.9
26.4
98.4
59.3
39.1
26 4
r 89.9
r 60.7
79 4
82.4
86.5
89.5
92.9
99.8
103.9
105.0
105.2
106.4
107.7
P 112.6
15
63
32
18
14
9
5
3
1
2
16.6
65.8
33.3
17.6
15.8
17. 1
69.4
37.7
18.4
19.3
17.4
72.1
39.6
18.1
21.5
17.8
75.1
40.8
19.4
21.4
18.3
81.5
45.1
20.0
25.1
18.7
85.2
48.6
20.9
27.6
19.4
85.6
48.4
21.5
26.9
19.8
85.4
47.1
21.4
25.7
20.4
86.0
46.4
22.1
24.3
20.8
87.0
46.2
26.9
19.3
p 21 0
P 91.5
2
0
2
2
9
9
0
9
1
6
5
1
29.1
' 26 3
adjustbil. $_.
78.7
92.2
105 1
do
do ..
_do
do
do
15 6
63 1
32.3
17.8
14 5
17 6
74 5
40.8
19.0
21.8
19
85
47
21
95
8.3
9 2
24.6
9 2
28 7
8 7
22 4
7.6
8.5
8.9
9.5
9.9
9.4
9.2
24.9
23.2
23.6
24.8
26.6
27.2
28.4
9.5
22.5
28.8
30.3
33.7
83.6
37.5
46.1
25.0
21.1
99.2
41.5
57.7
27.3
30.3
122.7
49.8
72 9
29 6
43.3
85.7
38.2
47 5
25.0
22.4
86.7
36.9
49.7
25.1
24.7
92.3
38.9
53.4
26.4
27.1
96.0
40.3
55.7
27.1
28.6
100.2
41.8
58.4
27.8
30.6
108.2
45.2
63.1
28 2
34.9
120.4
48.9
71.5
28.7
42.8
124.9
50.9
74.0
29.1
44.9
122.7
49.9
72.9
29.8
43.1
122.7
49.5
73.2
30.7
42.5
138.7
53.6
85.1
31.6
53.5
-4.9
41.6
-7.0
45.6
— 17.6
52 3
-6.3
42 3
-4.2
43.0
-5.8
43.6
-6.5
44.9
-7.3
46.2
-8.4
47.5
-16.5
49.2
-20.0
51.1
-17.5
53.2
-16.3
55.5
-31.0
57.5
864.0
117.6
746.4
685.9
60.5
944.9
142.4
802.5
749.9
52.6
1 055 0
151 3
903 7
829.4
74 4
869 6
118 3
751.3
691.0
60.3
885.8
124.0
761.8
703.2
58.6
913.3
138.6
774.7
721.4
53.3
930.9
140.9
790.0
741.1
49.0
950.3
143.1
807.2
757.9
49.3
985.0
147.0
838.1
779.2
58.9
1,013.6
144.1
869.5
804.2
65.3
1,039.2
147.2
892.1
822.5
69.6
1,068.0
154.2
913.9
840.7
73.2
1,099.3
159.9
939.4
850.1
89.3
1 112.5 rl 134 6
161.9 T 168. 2
950.6 ' 966. 5
866.2 r 894. 9
r
84.4
71.5
81.21
29.99
14.15
15. 84
88 44
31. 35
15.64
15.72
99.74
38.01
19.25
18.76
20.14
7.31
3.40
3.91
22.79
8.44
4.12
4.32
19.38
6.61
3.29
3.32
22.01
7.63
3.71
3.92
21.86
7.74
3.86
3.87
25.20
9.38
4.77
4.61
21.60
7.80
3.92
3.88
24.73
9.16
4.65
4.51
25.04
9.62
4.84
4.78
28.48
11.43
5.84
5.59
24.10
9.49
4.74
4.75
1 27. 96
11.25
5.62
5.64
i 28. 05
11.36
5.69
5.67
do
51.22
57.09
61.73
12.83
14.35
12.77
14.38
14.12
15.83
13.69
15.57
15.42
17.05
14.61
16.70
16.69
do
do
do
do
2.16
1.67
1.88
1.38
2.42
1.80
2.46
1.46
2.74
1.96
2.41
1.66
.55
.42
.39
.37
.59
.45
.56
.37
.58
.48
.60
.32
.61
.48
.73
.39
.69
.38
.61
.35
.63
.47
. .63
.40
.63
.46
.52
.32
.71
.46
.72
.43
.69
.48
.57
.44
.71
.56
.60
.47
.68
.50
.47
.34
.76
.65
.63
.52
.75
.64
.50
.57
do
do
do
do
do
16.30
12.86
2.44
10.77
18.06
17.00
14.48
2.52
11.89
20.07
18.71
15.94
2.76
12 85
21.40
4.07
3.35
4.29
3.60
3.63
3.19
4.24
3.61
4.39
3.67
4.74
4.01
3.95
3.45
4.59
3.91
4.82
4.04
5.36
4.54
4.38
3.85
5.25
4.44
5.57
4.60
2.84
5.26
2.72
4.55
2.95
4.98
2.84
4.97
3.39
6.67
2.87
4.94
3.27
5.40
3.19
5.24
3.53
5.83
3.19
5.05
.97
2.62
4.42
.81
28.90
28.65
do
do
do
do
80.75
29.19
13.76
15.43
83.18
30.35
14.61
15.74
86.79
30.09
15.06
15.02
87.12
30.37
14.77
15.60
87.67
30.98
15.67
15.31
91.94
33.64
16.86
16.78
96.19
35.51
17.88
17.63
97.76
36.58
18.64
17.94
100.90
38.81
19.73
19.08
103.74
40.61
20.48
20.13
107. 27
42.96
21.43
21.53
Transportation, communication, and public
utilities
bil. $
All other industries
do
Corporate profits before tax, total
Corporate profits tax liability
Corporate profits after tax
Dividends
Undistributed profits
r
141.35
134.4
do__
do
_do
do
do...
Inventory valuation adjustment
Net interest
do
do
6
5
6
5
i
8.8
7.1
P 150.4
P59.4
p 91.1
32.5
P58.5
r
-37.9
P 60 1
DISPOSITION OF PERSONAL INCOME f
Quarterly Data Seasonally Adjusted at Annual Rates
Personal income total
Less* Personal tax and nontax payments
Equals* Disposable personal income .
Less: Personal outlays© ..
Equals* Personal saving§
bil $
do
do
do
do
NEW PLANT AND EQUIPMENT
EXPENDITURES
Unadjusted quarterly or annual totals:
\11 Industries
Manufacturing
.
Durable goods industries 1
..
Nondurable goods industries 1 - .
Nonmanufacturing
Mining
Railroad
.
Air transportation
Other transportation
Public utilities
Electric..
Gas and other.
Communication
Commercial and other
Seas. adj. qtrly. totals at annual rates:
All industries
Manufacturing
Durable goods industries ^
Nondurable goods industries ^
bil. $
do
do do
.69
.71
.44
.62
.72
.73
.50
.68
.77
.82
.52
U10.58 U13.16
46.00
45.22
22.60
23.25
22.76
22.61
do
61.56
52.82
56.70
56.75
66.70
58.30
60.68
61.18
62.09
63.12
64.31
65.36
67.15
Mining
Railroad
Air transportation
Other transportation
do
do
do
do
2.23
1.72
1.68
1.48
2.30
1.64
2.26
1.33
2.42
2.10
1.96
1.48
2.38
1.88
2.89
1.53
2.40
1.50
2.67
1.41
2.46
1.71
2.33
1.42
2.59
2.11
2.21
1.53
2.77
1.75
2.72
1.62
2.82
1.95
2.49
1.79
2.76
2.05
2.20
1.73
2.80
2.10
2.13
1.63
2.97
2.48
2.26
1.93
3.06
2.70
2.16
2.17
Public utilities
Electric
Gas and other
Communication
Commercial and other
do
do
do
do
do...
15.87
13.56
2.30
10.73
17.85
15.74
13.01
2.74
10.44
19.10
16.92
14.27
2.65
11.71
20.10
16.60
14.32
2.27
11.59
19.88
17.01
14.62
2.38
11.56
20. 16
17.53
14.67
2.86
12.63
20.21
18.38
15.40
2.98
12.34
21.53
18.08
15.55
2.52
12.70
21.55
18.58
16.00
2.58
13.12
21.36
19.80
16.72
3.08
13.24
21.35
20.12
17.12
3.00
13.83
21.69
20.73
17.62
3.11
21.53
18.20
3.32
Nonmanufacturing
r
Revised.
p Preliminary.
i Estimates (corrected for systematic biases) for Apr.June and July-Sept. 1974 based on expected capital expenditures of business, Expected
2
Includes
expenditures for the year 1974 appear on p. 20 of the June 1974 SURVEY.
communication.
f See corresponding note on p. S-l.
9 Includes inventory valuation
1
235.00 2 35. 5~4~
adjustment.
© Personal outlays comprise personal consumption expenditures, interest
paid by consumers, and personal transfer payments to foreigners.§ Personal saving is excess of disposable income over personal outlays.
If Data for individual durable and nondurable goods industries components appear in the
Mar., June, Sept., and Dec. issues of the SURVEY.
August 1974
SURVEY OF CURRENT BUSINESS
Unless otherwise stated in footnotes below, data
through 1972 and descriptive notes areas shown in
the 1973 edition of BUSINESS STATISTICS
1971
1972
1971
1973
III
Annual total
S-3
1972
IV
I
II
1973
III
I
IV
II
1974
III
IV
IT
UP
32, 882
22, 299
24, 023
III
GENERAL BUSINESS INDICATORS—Quarterly Series—Continued
U.S. BALANCE OF INTERNATIONAL
PAYMENTS^1
Quarterly Data Are Seasonally Adjusted
(Credits +; debits -)
Exports of goods and services (excl. transfejs under
military grants)
mil. $_.
Merchandise, adjusted, excl. military
do
Transfers under U.S. military agency sales contracts
. .mil. $._
Receipts of income on U.S. investments
abroad
mil. $__
Other services
do
Imports of goods and services!!
_
-do
Merchandise, adjusted, excl. military
do
Direct defense expenditures!!..
do
Payments of income of foreign investments in the
U.S
..-...mil. $..
0 ther services
do
Balance on goods and services, total
Merchandise, adjusted, excl. military
65,449
42,754
72,418 100,950
48,768 '70,277
Unilateral transactions (excl. military grants), net
mil. $..
Balance on current account
. .
.do
Long-term capital, net:
U.S. Government .
do
Private
do ...
Balance on current account and long-term capital
mil. $..
Nonliquid short-term private capital flows, net
mil. $..
Allocation of special drawing rights (SDR). ..do
Errors and omissions, net _ .
do
17, 265
11, 655
17, 212
11, 534
18, 323
12, 357
19, 618 22, 191 23,838 25, 913 29,007
13, 222 ' 15,230 ' 16,679 ' 18,152 ' 20,216
1,154
2,354
489
419
326
281
252
295
342
446
520
1,046
672
9,830
10,955
10,419
12,077
13,984
14,359
2,271
2,766
2,735
2,779
2,411
2,873
2,435
2,962
2,679
3,035
2,894
3,207
3,194
3,427
3,308
3,414
3,502
3,748
3,980
3,770
5,941
3,970
-65,619 -78,427 -96,407 -17,028 -16,356 -19,028 -18,934 -19,517 -20,948 -22,384 -23,719 -24,230 -26,073 -29,980
-45,476 -55,754 '-69,807 -11,912 11,116 -13,482 -13,329 -13,953 -14,990 '-16, 184 '-17, 042 '-17, 575 ' 19 006
'-22, 373 -25, 732
-4,819 - 4,759 -4, 555 -1,203 -1, 236 -1,222 -1, 242 -1,109 -1, 185 -1, 175 -1, 209 -1,067 -1, 104 -1, 138
-4,809 - 5,893 -8, 694 -1,263 -1, 308 -1,391 -1,417 -1,467 -1,618 -1,747 -2, 100 -2,245 -2,602 -3, 040
-10,515 -12,023 -13,530 -2, 650 -2, 696 -2, 933 -2, 946 -2, 988 -3, 155 -3, 272 -3,308 -3,377 -3, 499 -3, 604
4,543
623
-3,647 -3,797 -3, 876
-3,817 -9,807
667
-860 -1, 763 -1, 722 -1, 194 -1,330
17
-393 -1,553 -1,827 -1,795 -1,596 -1,768
-193
-962
119
'-367
-969
-952
-761
-954
-1,056
-937
-599
-2,362 -1,330 -1,538
-4,381
-98
127 -1,998
-10,559 -11,235
-744
-990
-896
-981
-954
-958
-1, 841 -2, 753 -2, 676 -2, 152 -2, 226
-544
201
1972
-105
398
-370
-386
-544
726
-m,
319
94
-315
-423
178
816
-420
301
177
178
-442 -1,294
-999 -1,663 -1,457
177
-870 -4, 085
904
-9,303 -4, 185 -3, 327 -2, 346 -4, 445 -3,736 -6, 754 '-1, 710
-2, 434 -1,749
2,125 -3,441
1,474
-277
180
1,997
-11,737 -5, 934 -3, 147
-872 -4, 722 -1,611 -10,195
'287
10, 725
5,772
1,772
8,816
1,078
4,665
2,217
1,202
34
-173
221
27
117
-17
-9
-2
-43
78
-167
366
280
1,194
-55
-111
220
-231
-187
429
-9, 934 -4, 754 -4,104 -2, 368 -5,208 -4, 131 -8, 607
1,683
'564
June
July
Aug.
Sept.
2,934
' 1, 058
2,902
101
-1,709
-897 -1, 164 -2, 930
786
1,770
-28
-398
-862
1,529 -1, 406
1,351
742
1,917
2,065
-498
97 -1, 253 -3, 224
-387
' 1, 626
316
' 1, 942
792
-959
3,620
2,661
290
' -873 -6, 277
1,913
1,786
' 1, 040 -4, 491
'-730 '-1, 488 -2, 145
'-551
4,224
11
259
-354
182
-277
-452
167
-147
-2
443
-13
-15
17
-358
-210
'-787 ' 1, 105 -1, 452 '-3, 533 -7, 343
1973
1973
Annual
-309
-836
-3, 549 -2,184 -3, 898 -2,383 -2, 908 -2, 044 -1,006 -1, 158
-822
-516
-2,347 -1,541 -4, 276
710
179
179
717
-9,776 -1,790 -2, 776 -5, 111 -1,664
Net liquidity balance
do
-21,965 -13,856 -7, 796
Liquid private capital flows, net
_
_do_.
2,492
3,502
-7,788
Official reserve transactions balance
do
-29,753 -10,354 -5,304
Changes in liabilities to foreign official agencies:
Liquid
mil. $
4,452
9,734
27,615
Other readily marketable
do
1,118
-551
399
Nonliquid
do .
341
189
-475
Changes in U.S. official reserve assets, net . do ..
32
209
2,348
Gross liquidity balance, excluding SDR . do.. -23,779 -15,813 -9, 740
Unless otherwise stated in footnotes below, data
through 1972 and descriptive notes areas shown in
the 1973 edition of BUSINESS STATISTICS
15, 496
9,563
1,912
-170 -6,009
-2,722 -6,986
<io
.do
17, 045
11, 519
1974
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:f
Total personal income
bil. $..
Service industries
Government
Other labor income
Proprietors' income:
Business and professional
Farm
_ .
944.9 1,055.0 1,047.2 1,056.1 1,067.6 1,080.4 1,090.8 1,100.0 1,107.1
,107.0 1,113.4 1,117.1 1,125.2
1,135.2 '1,143.5
1,157.9
626.8
225.4
175.8
151 0
691.7
251.9
196.6
165 1
689.2
250.9
196.0
164 9
692. 9.
252.6
196,8
165 1
697.2
253.7
197.8
166 2
704.5
257.4
200.4
168 2
711.0
260.0
202.9
169 1
717.9
263.1
205.2
171. 1
722.2
264.5
205.8
170.9
722.5
262.1
204.1
172.0
728.3
264.6
204.9
172.8
732.1
265.3
205.5
173.9
727.1
267.4
207.8
175.3
745.3
270.0
210.1
177.8
' 753. 2
' 272. 6 ,
' 212. 5
' 179. 1
759.4
273.3
213.6
180.1
.._ _ d o _ _
115 3
135 0
41 7
128 2
146 6
46 0
127 8
145 6
45 g
128 7
146 5
45 9
129 7
147 5
46 3
130 7
148 2
46 7
131 5
150 4
47 1
132 3
151 4
47.6
134 7
152.1
48.0
135 3
153.0
48.5
137.0
153.8
48 9
138.2
154.6
49.4
139.1
155.3
49.9
141.1
156.3
50.5
' 142. 6
158.9
51.1
144.0
162.0
51.7
do
do.
54 9
21 0
57 6
38 5
57 2
35 9
57 8
38 8
57 6
41.5
57 g
44 3
58 3
44 9
58.5
44.9
58.4
44.9
58 7
42.1
59 4
39 1
59.9
36.1
60.2
32.6
'60.8
29.1
'61.2
'25.7
61.3
26.7
25 9
27 3
78 6
103 2
26 1
29 6
90 6
117 8
26.2
30 0
92 5
119.4
26.4
30 0
93 7
120 4
26 4
30 2
94 8
121.7
26.4
30 4
96 0
122.1
26.4
31 6
97.0
122.6
26 4
31 4
97 5
126.7
26.4
31 6
98 3
128.4
26.4
31.9
99.0
129.5
25.5
32.1
100.4
134.6
'26.7
'26.7
32.5
33.0
' 102. 0 ' 103. 5
135.8 137.0
26.8
33.2
104.7
142.5
'47.9
47.6
47.2
47.0
46.7
43.3
43.5
43.8
43.8
43.7
34.5
46.8
43.1
42.8
42.6
916.5 1, 008. 0 1, 002. 9 1, 008. 8 1, 017. 6 1, 027. 6 1, 037. 0 1, 046. 1 1, 052. 9 1, 055. 5 1, 064. 9 1, 071. 6 1, 083. 1 rl,096.6 '1,106.8
48.3
1,121.1
Wage and salary disbursements, total
do
Commodity-producing industries, totaLdo
Manufacturing
rrdo
Distributive industries
do .
do
do
Rental income of persons
..
do .
Dividends
do
Personal interest income
do .
Transfer payments
. . . do
Less personal contributions for social insurance
bil. $..
Total nonagricultural income
..do
26
29
89
116
2
2
9
6
26
29
91
117
0
4
2
2
FARM INCOME AND MARKETING*
Cash receipts from farming, including Government
payments totalj
mil $
64 954
91 197
6 120
8 827
8 226
7 937
11 538
10 891
Farm marketings and CCC loans, total
do
Crops
do
Livestock and products,ltotal 9
do
Dairy products
do
Meat animals
- do
Poultry and eggs
do
60, 993
25 340
35, 653
7 135
23 977
4,189
88,590
42 346
46, 244
8 071
30 768
6,899
6,104
2 431
3,673
661
2 401
558
6,559
3 001
3! 558
643
2 254
'612
8,145
3 638
4,507
671
2 959
831
7,975
3 887
4,088
688
2 666
693
11, 496
6 784
4^712
729
3 237
709
10, 874 r 8, 613
6 670 ' 4 981
3,632
4,204
r 719
779
2 246
2 822
558
628
143
137
147
208
230
191
172
158
182
184
195
176
229
237
223
224
253
202
323
442
233
306
434
208
242
324
180
260
326
210
184
185
183
113
119
116
130
92
77
107
119
107
113
114
131
167
225
169
242
134
178
132
164
92
86
Indexes of cash receipts from marketings and CCC
loans, unadjusted:!
All commodities
1967=100..
Crops
...
_
do .
Livestock and products
do
Indexes of volume of farm marketings, unadjusted \\
All commodities
1967=100..
Crops
do
Livestock and products
_^do
109
106
104
98
' Revised.
* Preliminary.
t See corresponding note on p. S-l.
\ Series revised
beginning 1971; monthly data prior to May 1973 appear in the Farm Income Situation, July
1974, available from the U.S. Dept. of Agr., Economic Research Service.
cf1 More complete
details appear in the quarterly reviews in the_Mar., June, Sept., and Dec. issues of the SUR-
102
102
123
115
r g 622
101
6 551
6 190
5 541
9,252
6,538
5 008 r 2 834
3,704
4,244
760
768
2 375
2 867
582
526
6,180
2 346
3,834
'863
r 2, 405
533
5,536
1,800
3,736
850
2,368
'479
174
153
190
156
117
185
9 294
109
95
89
68
105
83
51
108
5,558
5,503
' 5, 551 '
' 1, 807
3,744 '
866
2,362 '
475
5, 487
2,400
3, 087
'791
1, 825
'426
7,700
4,400
3,300
700
2,100
500
156
118
185
'156
156
153
217
285
165
95
78
118
133
89
53
117
107
107
VEY.
If Annual data in the 1973 BUSINESS STATISTICS should read as follows (mil. dol.):
1956 total imports of goods and services, -19,627; 1953-59 direct defense expenditures, -2,615;
-2,642; -2,901; -2,949; -3,216; -3,435; 3,107.
9 Includes data for items not shown
separately.
g_4
SURVEY OF CURRENT BUSINESS
Unless otherwise stated in footnotes below, data
through 1972 and descriptive notes are as shown in the 1973 edition of BUSINESS STATISTICS
1972
1973
1973 *
Annual
August 1974
June
July
Sept.
Aug.
1974
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July *
" 125. 4
GENERAL BUSINESS INDICATORS— Continued
INDUSTRIAL PRODUCTION^
Federal Reserve Board Index of Quantity Output
Not seasonally adjusted :
Total index d"
By market groupings:
Products total
Final products
Consumer goods .
Automotive products
Home goods and clothing
Equipment
-
115.2
125.6
128.9
122.4
126.7
131.0
130.4
127.9
122.7
122.2
124.9
126.2
126.5
" 129. 5
122. 6
113.8
111.9
123.6
127.7
117.7
95.5
123.4
121.3
131.7
136.6
129.1
106.7
127.3
125.1
136.4
154.4
133.8
109.2
121.6
118.9
128.6
124.3
119.2
105.2
125.1
122.2
134.1
100.5
132.5
105.7
130.6
128.6
141.8
136.6
139.1
110.3
129.1
127.2
139.2
146.6
137.5
110.3
125.4
123.4
132.8
140.2
130.6
110.2
118.8
116.8
122.8
102.6
122.3
108.4
118.9
118.1
125. 2
108.2
123.5
108.2
121.7
120.6
127.9
111.2
129.3
110.3
123.1 " 122 0 " 123. 1
121.6 " 119. 9 " 121. 0
129.0 " 127. 2 " 127. 9
113.2 " 118. 4 " 119. 9
130. 3 " 126. 6 " 125. 1
111.3 " 109. 8 "111.4
" 127. 0
" 125. 2
" 133. 4
123.4
" 129. 9
" 114. 0
120.9
119.0
126.2
101.8
115.6
109.1
121.1
117.4
131.0
129.3
135.2
131.4
131.8
123.7
135.5
129.2
137.6
131.8
136.2
132.5
132.8
132.0
126.0
129.0
122.0
127.5
125.7
130.1
128.4 " 129. 9
131.3 " 130. 9
" 130. 6 " 133. 2
" 132. 2 " 133. 8
127.7
125.3
do. ..
do
-- do. .-
114.0
108.4
122.1
125.1
122.0
129.7
128.9
125.8
133.3
121.1
117.9
125.6
125.3
119.3
133.9
130.2
125.9
136.4
130.2
126.3
135.9
128.0
125.0
132.4
122.1
119.8
125.4
121.5
118.5
125.9
124.7
121.2
129.7
126.0
122.8
130.7
" 128. 8
" 125. 2
134.2
120.9
117.0
126.6
do
124.1
129.0
128.2
133.0
137.2
137.1
131.2
127.3
126.8
126.9
126.1
125. 1 " 122. 7 " 124. 1 " 127. 5
131.5
-do
1967=100..
-
Intermediate products
Materials
By industry groupings:
Manufacturing
Durable manufactures
Nondurable manufactures
Mining and utilities
Seasonally adjusted:
Total index
By market groupings:
Products total
Final products
Consumer goods
do
do
do
do
do
do —
__do
do
125. 8
127.0
" 122. 5 " 123. 9
" 130. 7 "131.6
115.2
125.6
125.6
126.7
126.4
126.8
127.0
127.5
126.5
125.4
124.5
124.7
" 125. 7 " 125. 6
125.7
do
do. ..
do
113.8
111.9
123.6
123.4
121.3
131.7
123.7
121.3
131.9
124.2
122.1
132.9
123.7
121.4
131.2
124.3
122.4
132.3
124.3
122.7
132.6
125.3
133.5
124.0
122.6
131.3
123.0
121.3
129.2
122.4
120.6
128.3
122.6
121.0
128.5
" 122. 7 " 123. 6 " 123. 4
" 120. 8 " 122. 5 "121.8
" 128. 5 " 130. 3 " 129. 4
123.6
122.3
130.0
do
do
do
do
125.7
127.7
112.7
156.5
138.9
136.6
125.4
158.2
141.8
142.6
132.6
161.9
142.4
141.7
134.0
156.7
134.0
121.1
103.9
154.2
138.2
129.8
118.4
151.8
" 137. 2
131.4
122.5
148.4
138.5
133.7
124.8
150.9
134.6
120.6
106.2
147.8
128.2
108.0
90.0
142.6
126.4
106.6
86.4
145.5
128.5
108.0
86.3
149.8
" 130. 9 " 132. 8 " 132. 4
" 113. 8 " 116. 2
114. 7
97. 7
100.3
99.6
" 144. 7 " 146. 7
143.6
133.1
116.6
101.5
145.5
Home goods 9
do
Appliances, TV, home audio. ..do
Carosting and furniture
do
124.5
124.6
132.6
140.1
144.6
149.8
141.3
147.2
148.9
142.9
147.8
155.4
141.1
146.3
154.2
142.8
149.4
153.3
140.9
143.4
153.9
" 141. 1
" 140. 5
152.7
142.5
147.9
150.1
139.6
138.4
153.5
137.5
131.9
153.3
140.1
135.8
154.5
" 140. 6 " 142. 3 " 142. 4
" 135. 2 " 137. 8
136. 9
158. 2 " 157. 4
158. 9
142.5
122.8
109.7
126.2
117.5
135.3
129.0
116.2
132.4
122.1
143.2
128.1
116.0
131.4
119.6
143.7
129.0
116.5
132.5
121.3
144.1
130.2
117.0
133.6
121.9
145.8
130.1
118.0
133.2
122.2
144.8
130.8
116.8
134.5
123.3
146.2
131.5
117.3
135.2
126.5
144.3
130.2
120.3
132.8
125.0
141.1
129.5
116.3
133.0
126.9
139.4
129.1
114.5
133.0
125.9
140.4
128.7 " 127. 6
112.0 "106.2
133.1 " 133. 2
125.7 " 123. <J
140.8 " 143. 1
95.5
106.1
102.5
104.8
92.7
106.7
122.6
120.1
120.4
113.0
106.6
122.5
119.8
119.1
113.1
107.3
123.0
120.5
119.6
113.9
107.6
124.6
122.5
123.0
115.1
108.5
125.8
124.1
123.7
117.3
108.9
126.2
124.5
124.7
117.3
110.1
127.8
125.6
126.0
118.2
110.1
126.9
124.9
126.0
118.5
109.8
126.8
125.3
128.5
119.3
109.9
127.3
126.6
130.3
120.6
110.1 " 110. 1 "111.8
127.6 " 127. 9 " 129. 8
126.8 " 127. 6 " 129. 4
131.3 " 133. 5 " 135. 0
121.1
122. 1 " 124. 1
110.3
118.4
96.8
125. 5
135.0
109.7
125.4
134.1
109.7
125.8
135.9
109.0
127.0
137.0
108.4
127.7
138.2
109.6
128.1
140.1
109.8
130.3
141.3
111.4
129.2
139.3
111.1
128.5
139.8
109.5
128.2
139.8
109.3
128.7
140.8
109.4
77.9
80.4
80.1
81.1
79.7
79.8
80.0
80.9
81.9
81.4
80.9
81.0
"80.7
81.2
131.1
133.7
129.0
129.1
131.1
127.4
129.2
133.0
126.3
129.1
131.3
127.4
128.2
129.6
127.5
" 129. 4 " 128. 0 " 129. 1
130.8 " 130. 6 " 130. 8
" 128. 2 " 126. 0
127.7
128.2
129. 5
129. 3
128.6
114.7
122.5
131.0
143.0
127.0
Durable consumer goods
Automotive products
Autos
Auto parts and allied goods
Nondurable consumer goods
do
Clothing
do
Consumer staples ..
do. ..
Consumer foods and tobacco. ..do
Nonfood staples
do
Equipment
do
Business equipment
do
Industrial equipment 9
do
Building and mining equipment.do
Manufacturing equipment
do
Commercial transit, farm eq9
Commercial equipment
Transit equipment
Defense and space equipment
do
do .do. ..
do
r 123.
6
124. 9
" 129. 4
107.0
" 135. 3
" 126. 3
" 144. 5
" 128. 3
128.8
" 134. 0
" 124. 1
" 144. 3
134. 5
124.8
144.7
"111.3
' 129. 7
" 129. 2
" 136. 5
" 123. 4
111.4
129. 7
128. 5
136. 5
123.4
" 128. 2 " 130. 2 " 130. 4
140.4 " 141. 3 " 142. 4
"106.7 " 110. 2 " 108. 0
130. 9
141. 5
110.7
80.6
"81.6
do
do
do
121.1
120.8
121.3
131.1
133.8
128.7
132.0
133.5
128.9
132.5
134.6
132.7
132.1
135.3
129.6
131.0
134.9
128.1
130.6
134.3
127.5
Materials
do
Durable goods materials 9
do
Consumer durable parts
do
Equipment parts.. .
do
Nondurable goods materials 9
do
Textile, paper and chem. materials., do
Fuel and power, industrial
do
117.4
113.5
113.8
99.3
122.5
129.2
120.9
129.3
130.0
127.6
119.3
129.2
139.9
124.2
129.0
129.2
128.8
118.2
129.4
140.2
125.3
130.9
131.6
126.9
124.5
130.4
142.2
126.9
130.9
131.8
128.6
122.3
130.6
142.4
126.3
131.3
132.3
129.9
122.1
130.3
141.9
128.3
131.1
132.2
128.2
122.7
130.1
141.4
126.9
131.5
133.0
128.4
125.8
130.7
142.4
124.9
130.7
132.7
121.0
125.3
129.2
140.1
123.1
129.7
129.8
113.0
123. 9
131.1
143.4
121.5
128.3
127.3
109.3
122.6
131.1
141.7
122.5
129. 4
128.8 " 128. 7 " 129. 2
127.2 " 127. 3 " 128. 8 " 128. 5
110.6 "112.5 " 114. 7 " 114. 7
121.6 " 120. 1 " 122. 7 " 122. 5
131.9 " 131. 9 " 130. 8 "131. 4
143.1 " 143. 9 " 142. 9 " 143. 1
122.6 " 123. 2
124.8 " 125. 5
do
do
do
do
do .
do
do
114.0
108.4
113.9
113.1
107.1
123.6
114.8
125.1
122.0
128.7
127.0
121.7
136.5
130.5
125.6
123.0
128.7
124.5
119.9
131.5
133.4
126.5
123.8
130.6
128.1
120.9
140.3
133.5
126.1
122.6
129.5
125.6
118.5
137.5
133.8
126.3
123.3
129.5
127.8
122.7
136.5
131.5
126.4
123.6
130.6
128.7
123.6
141.1
132.4
127.4
124. 3
131.0
128. 9
124.2
140.1
133.1
126.4
123.1
130.5
130.7
127.7
141.3
130.0
125.3
121.0
130.4
129. 5
125.5
137.0
131.4
124.5
119.4
127.6
125.0
119.4
135.3
130.6
124.6
120.4
128.2
125.3
119.6
135.5
131.6
124.8
" 120. 7
"127.5
" 124. 0
116.4
r
141. 0
131.3
do
do
do
do
103.5
107.5
105.7
109.6
117.3
125.8
125.0
126.8
118.8
126.9
126.1
127.8
119.4
127.6
127.1
128.1
117.7
128.5
128.9
128.1
118.9
130.0
130.0
129.8
119.0
129.3
130.0
128.6
119.9
130.4
130.3
130.5
118.6
130.9
130.2
131.6
115.2
128.6
129.4
127.7
113.8
127.2
128.1
126.2
114.8
128.4
129.8
126.8
" 115. 5 " 117. 2 " 116. 5
" 128. 2 " 129. 4 " 129. 4
" 130. 7 " 131.2
131.5
125. 3
127.4 " 127. 3
Transportation equipment
do
Motor vehicles and parts
do
Aerospace and misc. trans. eq._ do
Instruments
do
99.0
123.1
75.8
120.2
109.1
138.1
81.2
138.3
112.2
143.3
82.2
140.2
112.1
144.1
81.3
140.8
105.7
131.0
81.3
140.9
107.3
133.9
81.7
141.5
108.8
136.4
82.3
141.0
109.8
137.8
82.9
142.6
103.0
124.6
82.2
142.7
95.7
112.7
79.3
143.0
93.9
109.2
79.3
142.8
95.0
110.2
80.3
142.8
Intermediate products
Construction products
Misc. intermediate products
By industry groupings:
Manufacturing, total
Durable manufactures
Primary and fabricated metals
Primary metals
Iron and steel
Nonferrous metals
Fabricated metal products
Machinery and allied goods 9
Machinery
Nonelectrical machinery
Electrical machinery.
Lumber, clay, and glass...
Lumber and products
Clay, glass, and stone products
do
do
do
120.0
122 A
118.6
129.1
127.9
129.8
129.2
126.6
130.5
129.8
125.4
132.3
129.2
128.4
129.6
128.8
128.9
128.8
129.7
127.4
131.2
129.3
127.3
130.4
127.8
126.3
128.7
129.7
126.1
131.8
127.4
127.1
127.6
128.1
126.1
129.3
Furniture and miscellaneous
Furniture and fixtures
Miscellaneous manufactures.
do
do
do
122.7
113.5
131.1
135.1
126.1
143.2
135.4
126.5
143.6
135.9
127.5
143.5
137.5
129.5
144.9
138.2
130.4
145.3
136.1
128.8
142.9
136.4
127.9
144.3
135.3
124.9
144.5
133.4
124.2
141.8
135.2
125.4
144.2
136.8
126.8
145.8
Nondurable manufactures
Textiles, apparel, and leather .
Textile mill products...
Apparel products
Leather products.. ..
do
do
do
do
do
122.1
108.1
117.4
105.7
88.9
129.7
115.0
127.3
113.2
83.7
129.3
115.0
119.2
111.0
86.6
130.6
114.5
128.9
112.1
79.2
130.9
115.4
129.0
113.6
81.0
130.7
117.5
130.2
115.4
86.4
130.4
116.8
130.2
114.9
83.1
131.3
116.7
129. 4
115.3
82.9
131.2
118.8
130.9
118.5
82.9
131.4
116.2
128. 4
116.4
77.6
131.5
115.3
127. 6
113.6
83.7
123.8
135.3
116.0
124.5
137.0
116.2
121.2
122.1
121.7
122.2
121.3
121.9
136.2
134.8
136.7
138.7
135.3
137.6
112.1
113.6
112.3
110.4
110.8
111.9
9 Includes data for items not shown separately.
Paper and printing
do
116.1
122. 2
122.8
Paper and products
".".I"." do
128.2
135! 4
134.6
Printing and publishing. _
_ do
107.9
113.2
114.8
" Revised.
> Preliminary.
^Monthly revisions for 1972 are available upon
request.
" 97. 8
116.4
" 80. 0
143.8
125.6
" 122. 2
" 129. 2
" 126. 8
"118.0
" 140. 1
" 131. 9
" 125. 3
" 121. 8
" 129. 6
" 127. 5
" 120. 0
139.4
" 132. 1
"98.4
" 100. 6
" 119. 6 "116.9
"80.7
" 82. 4
" 146. 3 " 147. 4
" 128. 0 " 127. 9
" 126. 8 " 126. 8
" 130. 3 " 128. 6
125.5
122.1
130.0
128.2
120.0
"isi'o"
116.9
129.6
131. 5
127.2
99.2
118.1
81.0
147.4
" 127. 1
126.1
127.5
127. 5
138.4
130. 5
145.5
138.7
130.9
112.4
125.0
110.0
83.0
" 130. 4 " 130. 7 " 130. 4
" 109. 3 " 109. 5 " 108. 0
" 123. 4 " 123. 5
123.0
106.0
105. 8
" 79. 5 "80.1
80.5
130. 5
108.4
122.5
140.2
110.7
" 121. 2
" 135. 4
111.7
136. 8
128.8
144.1
138. 9
" 129. 7
" 147. 3
"121.3 " 122. 6
" 135. 1
136.8
" 111.9 " 113.0
122.3
113.5
SURVEY OF CURRENT BUSINESS
August 1974
Unless otherwise stated in footnotes below, data
through 1972 and descriptive notes are as shown in
the 1973 edition of BUSINESS STATISTICS
1972
1973
1973 v
June
Annual
S-5
July
Aug.
1974
Sept.
Oct.
Nov.
Dec.
Jan.
Mar.
Feb.
Apr.
May
June
July P
GENERAL BUSINESS INDICATORS—Continued
INDUSTRIAL PROD UCTIONJ— Continued
Federal Reserve Index of Quantity Output— Con.
Seasonally adjusted— Continued
By industry groupings— Continued
Manufacturing, total— Continued
Nondurable manufactures— Continued
Chemicals, petroleum, and rubber 1967=100.
Chemicals and products
do
Petroleum products
- do..
Rubber and plastics products
do
Foods and tobacco
Foods
Tobacco products
149.3
150.2
127.4
163.8
149.8
150.4
129.7
163.9
151.8
152.0
129.3
168.8
151.0
151.4
128.2
167.9
150.9
153.0
126.0
163.6
151.1
152.7
130.4
161.9
151.6
153.0
129.5
164.5
151.6
154.5
125.5
162.3
151.5
154.9
120.5
164.3
151.2
155 3
116.9
163.5
-do .
do
do
117.6
118.6
103.7
121.9
122.7
110.7
119.5
120.3
108.1
121.3
122.4
105.3
122.0
122.9
110.1
122.2
123.2
109.1
121.7
122.4
113.7
124.7
125.4
115.8
123.0
124.5
104.2
125.4
126.3
113.3
126.2
127.2
112.1
125 3
126.5
110 4
124.3 r 126 1
125.9 ' 127. 3
' 104. 6 109.4
do
do
do
do
. -.do
do
do _
do__
124.1
108.8
120.9
98.1
109.2
104.2
110.0
107.3
129.0
110.3
130.8
109.5
108.3
104.4
108.9
104.4
128.2
109.5
121.6
105.2
108.9
108.0
109.1
104.6
130.4
111.0
128.4
109.1
109.5
109.0
109.5
105.4
130.7
111.5
131.4
113.1
109.2
104.0
110.0
104.8
131.3
111.8
136.6
109.5
109.6
109.8
109.7
103.9
131.5
111.9
138.3
109.2
109.7
103.0
110.8
104.2
130.6
111.3
135.2
111.7
108.8
104.1
109.6
103.7
126.9
110.4
135.2
113.1
107.5
110.4
107.0
102.9
125.4
109.9
135.2
111.9
107.0
108.7
106.8
102.4
126.9
111.7
132.2
111.6
109.6
112.7
109.1
104.2
127 3
112.2
132 9
110 7
110 2
114 7
109 5
101 3
r 127. 8
110.7
109.8
110.3
109.7
MOO. 6
143.4
149.4
123.4
152.6
161.1
124.2
151.6
159.7
154.8
163.9
154.8
163.8
155.8
165 1
156.2
165.3
154.6
163.4
147.6
155.6
144.9
153.0
146.1
154 6
146 5
r 155 o
148.7
158.3
. .-
Mining and utilities
Mini ng
Metal mining
Stone and earth minerals
Coal oil and gas
Coal
Oil and gas extraction
Crude oil
r
' 151. 2 'r 153. 5 ' 152. 9
155 5 r 156. 2 rr 156 0 '
126. 9
126 1 '
117 3
164 2 ' 165. 5 ' 163 7
137.8
139.6
120.6
145.5
Utilities
Electric
Gas
do
do
do
111.3
r 127. 4
r 128 3
111.6
128. 1
111 0
110 0
113.6
109 5
101 2
r
r
r
149. 2
159 0
153. 1
153.2
155 9 156
0
125 8 196 0
165 0
124 7
125.8
124 9
126. 1
' 197 9
110.8
119 6
106 7
r
110 6
118 0
109 5
101 2
198 5
111.7
r
149 9
110 3
118 0
109 0
149 5
BUSINESS SALES §
Mfg. and trade sales (unadj.), total cf ©
1,490,776 1,724,953 149,121 138,159 145,638
mil. $
Mfg. and trade sales (seas, adj.), totalcf©
do
._ 1,490,776 1,724,953 141,334 145,467 145,337
1
145,264
154,192 153,952 153,297 142,865 147,470 161 686 163,025 r!68, 341 168 609
C
145,321 149,469 152,255 150,643 154,217 156,203 159 584 161,037 162,913 162,555
856, 778 70,639
464,686 38,280
392, 092 32,359
72,257
39,788
32,469
72,290
38,902
33, 388
72,146
39,248
32,898
74,581
40,879
33, 702
76,178
41,055
35,123
74,617
39,465
35,152
76,389
39,994
36, 395
76,978
40,073
36,905
78 197
40 635
37 562
79,050
41,232
37,818
••81,117
'42,538
'38,579
81,319
42, 859
38 460
1448,379
149, 659
298, 720
503, 317
170, 275
333, 042
41, 167
13,731
27, 436
42, 767
14,409
28, 358
42, 355
14, 481
27, 874
42,529
14,267
28,262
42, 970
14, 331
28, 639
42,976
14,090
28,886
42,116
13,270
28,846
42, 932
13, 525
29, 407
43,134
13,327
29,807
43 872
13 660
30 212
44,283
13,941
30,342
r
44,894
'14,289
'30,605
44 491
14 018
30, 473
1298,199
138, 446
159, 753
364, 858
167, 713
197, 145
29,528
13,781
15,747
30,443
14,039
16,404
30, 692
13, 950
16, 742
30 646
13,968
16678
31,918
14, 391
17, 527
33,101
14,995
18,106
33,910
15,232
18,678
34, 896
15, 898
18, 998
36,091
15, 860
20, 231
37515
16 669
20 846
37,704 '36,902
17,079 '16,857
20,625 '20,045
36 745
17, 017
19 728
Mfg. and trade inventories, book value, end of year
or month (unadj ) total f
mil. $
194,228
219, 247
207,491 207,670 207,691 209 921 214,722 219,589 219,247
Mfg. and trade inventories, book value, end of year
or month (seas adj.) , total t
mil. $
196,002
221,357
206,961 208,776
do..
do
do
107,719
70, 218
37, 501
120, 870 113,025 113,910 114,907 116,114 117,224 118,435 120,870 122,570 124,831 126500 128,438 '130, 936 133,300
79, 441 73,801 74,278 75, 213 76 249 76, 951 77,645 79,441 80, 541 81 925 83 014 84,108 '85,715 87 267
41, 429 39,224 39,632 39, 694 39 865 40, 273 40,790 41,429 42, 029 42 906 43 486 44, 330 45, 221 46, 033
do
do
_ do ..
56, 551
26,034
30,517
63,561
28,778
34, 783
59,788
27, 051
32, 737
60,213
27, 494
32, 719
60,677
27, 563
33, 114
60 847
27 507
33 340
61,681
27, 926
33, 755
62,937
28, 662
34, 275
63,561
28,778
34,783
64, 261
28, 852
35, 409
64 394
28 789
35 605
64 743
28 578
36 165
64,855
28,495
36, 360
65, 615
28, 499
37, 116
66 580
28, 893
37, 687
do
do
do
31, 732
18, 884
12, 848
36, 926
21,112
15, 814
34,148
20,141
14,007
34,653
20,159
14,494
34, 964
20, 089
14, 875
35 266
20 257
15 009
35, 379
20, 331
15,048
36,265
20, 787
15,478
36,926
21,112
15,814
37, 826
21, 487
16, 339
38501
21 786
16 715
39 347
22 352
16 995
39,293
22 604
16,689
'40,036
'23,282
'16,754
40, 634
23 499
17, 135
ratio
1.52
1.44
1.46
1.44
1 45
1 46
1.43
1.43
1.47
1.46
1 46
1 44
1 44
' 1.45
1 48
do
do
do
do
do
1.69
2.03
.58
.91
.54
1.58
1.91
.56
.87
.48
1.60
1.93
.56
.88
.49
1.58
1.87
.55
.85
.47
1.59
1 93
57
89
.48
1 61
1 94
1.57
1 88
1.56
1.89
'1.60
2.01
.56
86
.46
1 62
2 04
1 62
2 04
1.62
2 04
'1.61
2 02
58
89
48
.57
.87
.46
1.62
2.01
65
92
48
.65
91
.47
.65
.90
.46
1.64
2 04
.66
91
.47
do
do
do
do
1.29
.48
.20
.61
1.20
.46
.19
.55
1.21
.45
.19
.56
1.22
.47
.19
.56
1 19
.46
19
54
1 21
1 19
1.16
.46
19
.54
.45
.18
.53
1 16
1 16
1 17
' 1 17
47
19
55
45
18
52
46
18
53
.47
18
.52
1 20
.47
19
.53
do
do
do
.45
.96
.19
.42
.91
.18
1.45
1.97
1.19
1.41
1.91
1.15
1 43
1 90
1 19
1 43
1 93
1 18
1.44
1 95
1.18
1.46
2.03
1.19
1.51
2.17
1.21
1.50
2.13
1.20
1 49
2 16
1 19
1 48
2 09
1 20
1 46
2 04
1 20
'1.46
' 1 99
' 1.21
1.50
2 06
1.24
.21
.55
.91
.13
.43
.87
1.16
1.46
.89
1.14
1.44
.88
1 14
1.44
89
1 15
1 45
1 11
1.41
1.10
1.39
1.08
1.35
1 07
1 37
1 05
1 34
1 04
1.32
1 08
'1.38
86
.85
1.09
1.39
90
81
84
1 11
1.38
.87
25 108
31 623
2 627
2 560
9 351
2 651
2 399
2 646
2 684
2722
2 841
2 815
2 979
2,920
3 174
2 884
2 938
3 119
3 243
3 344
3 526
3 302
744 198
856 778
75 431
66 602
70 112
74 499
76 404
75 505
70 639
71 248
78 072
81 391
80 823 r 82 391
401 318 464,686 41 799 35 888 36576
22 344
2 229
24 936
2 270
2 045
57 941
72 027
6 402
5 536 5 846
28,109
35 260 3 119
2 760 2 882
.
26. 539
2 357
1.991
2.177
21. 392
2
' Revised.
*> Preliminary.
1 Based on data not seasonally adjusted.
Advance
estimate; total mfrs. shipments for June 1974 do not reflect revisions for selected components.
cf See corresponding note on p. S-6.
§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. Unadjusted data for manufacturing are shown below on
pp. S-6 and S-7; those for wholesale and retail trade on pp. S-ll and S-12.
40 163
2 189
6 155
2 986
9320
41 608
2 314
6 345
3 054
40474
2 136
6 383
3,057
2.428
37 115
1 809
6 072
2 840
37088
1 839
6 504
3 133
40 828
1 993
7 061
3 246
42829
2 150
7 555
3 700
42 699
2 229
7 757
3 641
3 052
Manufacturing, totalcfDurable goods industriescf
Nondurable goods industries.-
1744,198
do_.
do.. _ 401,318
342, 880
do-
_
Retail trade, total
Durable goods stores
Nondurable goods stores
do
do
do
_
Merchant wholesalers, total
Durable goods establishments...
Nondurable goods establishments
- do_
.do
do
BUSINESS INVENTORIES §
Manufacturing, total ..
Durable goods industries
Nondurable goods industries
_
Retail trade, totalf
Durable goods stores
Nondurable goods stores
Merchant wholesalers, total
_
Durable goods establishments
•
Nondurable goods establishments
__
210,548 212 227 214,284 217,637
223,036 227 616 232 427 235,225 '238, 758 241 018
221,357 224,657
227 726 230 590 232,586 '236, 587 240 514
BUSINESS INVENTORY-SALES RATIOS
Manufacturing and trade, total cf ©
Manufacturing, totalcf-Durable goods Industries cf
Materials and supplies
Work in process
Finished goods
„
Nondurable goods industries
Materials and supplies
Work in process
Finished goods.Retail trade, total tDurable goods stores
Nondurable goods stores
Merchant wholesalers total
do
Durable goods establishments
do
Nondurable goods establishments
do
MANUFACTURERS' SALES, INVENTORIES,
AND ORDERS
Manufacturers' export sales:
Durable goods industries:
Unadjusted, total
mil $
Seasonally adj., total
do
Shipments (not seas, adj.) totalcf
Durable goods industries, total 9 cf
Stone, clay, and glass products
Primary metals . .
Blast furnaces, steel mills
.
Nonferrous metals
do
do
do
do
do
dn
9 3JW»
.62
.91
.48
1.18
.45
.19
.54
.85
2. 384
.62
.91
.48
1.15
.45
.18
.52
.86
2. 453
64
92
49
45
18
52
83
9. 848
82
2 847
3 494 ' 3 616 3,833
3,734
3 441 ' 3, 495
86 694
'44000 '46,661
' 2 263 2 439
r 8 052 ' 8, 475
' 3 888 4,090
r 3 040
3.256
2
40,514
2
7, 421
fSee note marked "J" on p. S-12; revisions for total mfg. and trade (unadj. and seas, adj.)
and inventory-sales ratios for retail trade, total, durable, and nondurable appear on p. 7 of
the March 1974 SURVEY. c 9 Includes data for items not shown, separately.
JSee note
marked" cf" on p. S-4.
Corrected.
0 Revisions back to Jan. 1968 for this item appear on p. 49 of this issue of the SURVEY.
SURVEY OF CURRENT BUSINESS
S-6
Unless otherwise stated in footnotes below, data
through 1972 and descriptive notes are as shown
in the 1973 edition of BUSINESS STATISTICS
1972
| 1973
Annual
August 1974
1973
June
July
Aug. Sept.
1974
Oct.
Nov. Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
GENERAL BUSINESS INDICATORS—Continued
MANUFACTURERS' SALES, INVENTORIES,
AND ORDERS— Continued
Shipments (not seas, adj.)— Continued
Durable goods Industries— Continued
Fabricated metal products
Machinery except electrical
Electrical machinerj7
Transportation equipmentcf --Motor vehicles and parts
Instruments and related products
mil. $
do
do
do
do
do
47, 098
61, 024
55, 950
99, 951
66,762
13, 393
53, 707
73, 380
63, 497
113,317
77, 278
14,334
4,732
6,750
5,583
10,407
7,169
1,263
4,295
5,705
4,909
8,399
5,419
1,119
4,455
5,734
5,230
7,566
4,667
1,168
4,655
6,468
5,654
9,352
6,227
1,299
4,811
6,237
5,642
10,481
7,314
1,302
4,668
6,174
5,571
10,029
6,928
1,258
4,527
6,384
5,438
7,823
4,866
1,218
4,325
6,223
5,060
8, 249
5,611
1,134
4,739
7,020
5,662
8,855
5,762
1,240
4,921
7,551
5,777
8,941
5,638
1,316
4,948
7,172
5,552
9,195
5,891
1,244
' 5, 233
' 7, 186
'r 5, 731
9, 591
' 6, 229
'1,316
5,432
7,938
6,064
10,040
6,528
1,414
Nondurable goods industries total?
Food and kindred products
Tobacco products
Textile mill products
do
do
do
do
342, 880
114, 496
5,863
26, 726
392, 092
134, 947
6,201
30, 531
33,632
11,383
555
2,725
30,714
10,806
517
2,200
33,536
11,750
560
2,602
34,336
11,982
516
2,631
34, 796
12,187
534
2,758
35,031
12,337
532
2,675
33,524
11,980
539
2,537
34,160
12,010
549
2,556
37,244 ^38,562
12,653 12,939
530
509
2,785
2,932
38,124
12,171
531
2,806
38,391
12,281
588
' 2, 884
39, 952
12, 473
601
3,084
do
do
do
do
28, 278
57, 437
29,932
19, 185
32, 417
67, 034
35,815
20, 488
2,833
5,962
2,953
1,794
2,562
5,152
2,919
1,580
2,798
5,536
3,017
1,702
2,815
5,769
3,121
1,743
2,863
5,643
3,135
1,809
2,850
5,610
3,425
1,729
2,719
5,463
3,694
1,584
2,901
5,685
3,742
1,696
3,125
6,452
4,173
1,842
Paper and allied products
Chemicals and allied products
Petroleum and coal products
Rubber and plastics products
Shipments (seas adj ) totaled
By industry group:
Durable goods industries total 9 cf
Stone clay and glass products
Primary metals
Blast furnaces, steel mills
Nonferrous metals
Fabricated metal products
Ivlachinery except electrical
Electrical machinery
Transportation equipment cf
Motor vehicles and parts
Nondurable goods industries total 9
Food and kindred products
Tobacco products
Textile mill products
Chemicals and allied products
Petroleum and coal products
Rubber and plastics products
3,258 ' 3, 291
7,094 ' 6, 987
4,499 r 4, 725
1,985 r 1,967
3,479
7,195
4,990
2,095
do
70,639
72,257
72,290
72,146
74,581
76,178
74,617
76,389
76,978
78,197
79,050 '81,117
38,280
2,072
5,789
2,753
2,178
39,788
2,075
6,023
2,924
2,245
38,902
2,084
6, 165
3,030
2,301
39,248
2,046
6,266
3,149
2,284
40,879
2,178
6,730
3,459
2,369
41,055
2,162
6,792
3,367
2,495
39,465
2,048
6,687
3,181
2,586
39,994
2,125
6,766
3,220
2,580
40,073
2,159
6,884
3,163
2,776
40, 635
2,154
7,059
3,420
2,686
2
41,232 ' 42,538 ' 42,785 45,029
2,226
2,191 ' 2, 175
7,047 ' 7, 421 ' 7, 665 2 8, 067
3,610
3,208 ' 3, 466
3,009
2,831 ' 2, 854
do
do
do
do
A do
4,411
6,159
5,265
9,252
6,250
1,186
4,606
6,240
5,405
10,182
7,055
1,196
4,385
6,117
5,350
9,550
6,524
1,163
4,345
6,243
5,288
9,783
6,692
1,192
4,648
6,353
5,372
10,121
6,932
1,245
4,714
6,614
5,382
9,783
6,668
1,232
4,730
6,630
5.387
8,418
5,490
1,226
4,780
6,649
5,529
8, 654
5,555
1,265
4,823
6,712
5,621
8,262
5,167
1,281
4,836
6,969
5,629
8,177
5,042
1,315
4,879
6,884
5,727
8,699
5,465
1,270
do
do
do
do
32, 359
11, 071
515
2,566
2,708
5,593
2 883
1,677
32, 469
11, 222
506
2,550
2,722
5,641
2,936
1,712
33,388
11,827
540
2,550
2,767
5,694
3,017
1,700
32, 898
11,348
498
2,499
2,739
5,575
3,100
1,706
33,702
11,739
536
2,532
2,807
5,687
3,170
1,748
35, 123
12, 180
528
2,637
2,898
5,895
3,456
1,794
35,152
12,089
552
2,642
2,891
6,140
3,663
1,754
36,395
12,762
582
2,793
3,009
6,127
3,746
1,830
36,905
12,693
535
2,816
3,067
6,315
4,077
1,819
37,562
12,730
544
2,759
3,091
6,435
4,404
1,826
37,818 ' 38,579 38, 460
12,451 ' 12,449 12, 132
582
558
549
2,901
2,851 ' 2, 956
3,326
3,235 ' 3, 310
6,490 ' 6, 529 6,766
4,878
4,531 r 4, 792
1,958
1,879 ' 1, 907
i 80, 572
i 166,933
1111,622
i 91, 945
i 72, 361
i 333,345
6,681
13, 734
9,302
7,436
6,021
27, 465
6,541
13,837
9,489
8,344
6,098
27, 948
6,616
14,472
9,223
7,807
5,928
28, 244
6,683
13,929
9,519
7,898
5,928
28, 189
6,878
14,479
9,534
8,306
6,112
29,272
7,178
14, 915
9,849
7,980
6,301
29, 955
6,961
14,746
9,898
6,724
6,314
29,974
7,083
15,267
10,009
6,792
6,192
31,046
7,152
15,167
10,116
6,424
6,376
31,743
7,433
15,218
10,335
6,327
6,329
32,555
7,476 r 7, 875
15,034 ' 15,157
10,433 ' 10,496
6,744 ' 6, 990
6,436 '6,631
32,927 ' 33,968
i 36, 451
1131,725
1112,913
i 18, 812
2,975
10,987
9,460
1,527
3,095
11,147
9,585
1,562
3,084
10,956
9,445
1,511
3,042
11,118
9, 583
1,535
3,152
11,408
9,783
1,625
3,260
11,479
9,938
1,541
3,143
11,470
9,965
1,505
3,132
11,718
10,166
1,552
3,236
11,869
10,259
1,610
3,335
12, 019
10,407
1,612
2
3, 187
3,284 ' 3, 503 ' 3, 281
12,143 ' 12,200 ' 12,629 2 12,441
'
10,606
' 11,033 2210,969
10,557
1, 472
1,586 ' 1, 594 ' 1, 596
114,465 115,045 116,496
75,117 75, 707 76,399
39,348 39,338 40,097
117,842 120,312 122,837
77, 154 78, 835 80,460
40, 688 41,477 42,377
125,398 127,125
82,181 83,515
43,217 43,610
118,435 120,870 122,570
124,831 126,500 128,438 ••130,936 133, 300
By market category:
171,555
Home goods and apparel
do
Consumer staples
do __ 1146,257
i 97, 809
Equipment and defense prod., exel. auto o* do
179,835
Automotive equipment
do
163,500
Construction materials and supplies
do
i 285,242
Other materials and supplies
do
Supplementary series:
131,354
Household durables
do
1116,222
Capital goods industries cf
..do
i 98,326
Nondefense cf
do
i 17, 896
Defense cf
do
81, 319
5, 213
5,064
7, 010
7,209
5, 948
5,723
8, 857 ' 8, 976 2 10,385
5, 691
5,702
r 1, 320
1,328
'
'
'
'
'
7,651
14, 837
10, 803
6,975
6,599
34, 454
129,464 ' 132,092 133, 564
«4,911 ' 86,563 87,468
44,553 ' 45,529 46,096
do
do
107, 415
69, 803
37, 612
120, 312
78, 835
41,477
113,175
73,911
39, 264
113,367
74, 051
39, 316
do
107, 719
120, 870
113,025
113,910 114,907
116,114 117,224
do
do
tio
do
70, 218
2,463
9,658
5,268
3,354
79, 441
2,813
9,356
4,672
3,449
73, 801
2,593
9,391
4,830
3,472
74, 278
2,669
9,452
4,869
3,475
75,213
2,679
9,346
4,820
3,388
76, 249
2,702
9,323
4,791
3,358
76,951
2,720
9,222
4,677
3, 375
77, 645
2,737
9,226
4,617
3,402
79,441
2,813
9,356
4,672
3,449
80,541
2,863
9,467
4,691
3,500
81,925
2,861
9,523
4,632
3,595
83,014
2,952
9,562
4,546
3,670
84,108 ' 85,715
3,027 '3,100
9,723 ' 9, 947
4,542 ' 4, 574
3,795 ' 3, 952
87, 267
3,190
10, 206
4,709
4,032
Fabricated metal products
do
Machinery, except electrical
do
Electrical machinery
..do
Transportation equipment
.. do
Motor vehicles and parts___ _
do
Instruments and related products. _do
7,832
14, 386
10, 381
16, 150
4,589
2,717
8,997
16, 703
12, 559
18, 233
5, 646
3,268
8,230
15, 386
11,369
16, 977
5,074
2,823
8,238
15,504
11,514
17, 029
5,102
2,879
8,378
15,681
11,742
17,328
5,107
2,978
8,519
15, 952
11, 834
17, 690
5,436
3,031
8,513
16,164
12,102
17,766
5,391
3,083
8,792
16, 365
12, 302
17, 763
5,391
3,170
8,997
16,703
12,559
18,233
5,646
3,268
9, 023
17,021
12,749
18,339
5,713
3,413
9,264,
17,405
13, Old
18,460
5,616
3,581
9,384
17,693
13,133
18,671
5,689
3,627
9,583 ' 9, 736
18,102 ' 18,528
13,341 ' 13,496
18,490 ' 18,782
5,583 ' 5, 623
3,702 '3,803
9,923
19, 050
13,644
18, 928
5,644
3,917
Machinery (elec. and nonelec.)...do
Transportation equipment
do
20, 010
3,283
6,516
3,022
24, 423
3,586
8,359
3,888
21, 424
3,326
7, 245
3,433
21, 721
3,389
7,411
3,413
22,080
3,377
7,602
3,407
22, 621
3,355
7,769
3,667
23,064
3,376
7,932
3,624
23,444
3,494
8,076
3,594
24,423
3,586
8,359
3,888
24,923
3,665
8,523
3,886
25,494
3,772
8,742
3,842
26,335
3,915
9,006
3,936
26,913 ' 27,739
4,140 ' 4, 350
9,283 '9,586
3,830 ' 3, 826
28,280
4,477
9,772
3,880
Work in process 9
do
Primary metals
__ _ do
Machinery (elec. and nonelec.)---do
Transportation equipment
do
32, 074
3,485
11, 250
11, 774
36, 078
3,450
13, 407
12, 761
33, 735
3,493
12, 237
12, 100
33,944
3,514
12, 358
12, 133
34,461
3,477
12,539
12,384
34, 742
3,496
12, 675
12,439
35,082
3,455
12,983
12,576
35,519
3,405
13, 203
12, 589
36,078
3,450
13,407
12,761
36,285
3,478
13,621
12,818
36,9423,434
13,985>
13,001
37,264
3,430
14,135
13,076
37,721 ' 38,335
3,471 ' 3, 490
14,419 ' 14,718
13,042 ' 13,340
38, 924
3,575
14, 966
13,480
Finished goods 9
.....do
Primary metals
._ „ do
Machinery (elec. and nonelec.)__.do
Transportation equipment
do
18, 134
2,890
7, OOL
1,354
18, 940
2,320
7,496
1,584
18, 642
2,572
7,273
1,444
18, 613 18, 672
2,549
2,492
7,249 • 7,282
1,483
1,537
18, 886
2,472
7,342
1,584
18,805
2,391
7,351
1,566
18, 682
2,327
7,388
1,580
18,940
2,320
7,496
1,584
19,333
2,324
7,626
1,635
19,489
2,317
7,694
1, GIT
19,415
2,217
7,685
1,659
r
19,474 19,641 20,063
2,154
2,112 ' 2, 107
7,956
7, 741 ' 7, 720
1,618 ' 1, 616 1,568
Nondurable goods industries, total 9. .do
Food and kindred products
• do
Tobacco products
.....do
Textile mill products
a___do
Paper and allied products.. . . . .do _
Chemicals and allied products
do
Petroleum and coal products
do
37, 501
9,421
2,369
4,044
2,875
7,018
2,300
2,383
41, 429
10, 584
2,460
4,589
3,267
7,268
2,626
2,627
39, 224
10, 042
2,343
4,317
2,992
7,046
2,335
2,484
39,632
10, 135
2,331
4,349
3,006
7,136
2,412
2,532
39, 865
10, 027
2,398
4,436
3,070
7,175
2,391
2,551
40,273
10,172
2,425
4,407
3,089
7,185
2,474
2,578
40, 790
10, 432
2,446
4,521
3,170
7,208
2,548
2,574
41,429
10,584
2,460
4,589
3,267
7,268
2,626
2,627
42,029
10,638
2,569
4,707
3,325
7,263
2,731
2,702
42,906
10,791
2,58$
4, 675
3,40$
7,563
2, 868
2,742
43,486
11,035
2,588
4,733
3,484
7,655
3,002
2,742
44,330 45, 221
11,164 ' 11,057
2,561 ' 2, 555
4,769 ' 4, 789
3,656 ' 3, 778
7,836 ' 8, 140
3,312 ' 3, 555
2,759 ' 2, 875
Book value (seasonally adjusted), total
By industry group:
Durable goods industries, total 9
Primary metals
Blast furnaces steel mills
•>
Nonferrous metals
By stage of fabrication:
Materials and supplies 9
By stage of fabrication:
Materials and supplies
Work in process
Finished goods
•
do
15.818
6,597
19, 014
39,694
10,011
2,399
4,379
3,032
7,140
2,388
2,539
14,857 15,195 15,358
6,270
6,196
6,170
18,197 18,241 18,066
r
Revised.
i Based on data not seasonally adjusted.
2 Advance estimate; total mfrs.
shipments for June 1974 do not reflect revisions for selected components.
d"As a result of
corrections in the aircraft, missiles, and parts industry data for this component have been
revised by the Bureau of the Census ba6k to 1968. Revised data prior to May 1973 appear in
8, 354
do
do
do
do
j do
do
do
do
Inventories, end of year or month:
Book value (unadjusted) total
Durable goods industries, total
3,217
6,729
4,374
1,919
2
do
do
do
13, 865
5,968
17, 668
46, 033
10, 947
2,580
4,893
3,816
8,478
3,702
2,953
15,395 15,613 15,704 15,818 16,335 16,751 17,062 17,535 ' 18,046 18, 213
7,361
6,732
6,922 ' 7, 056
6,754
6,568
6,347
6,442
6,597
6,320
18,150 18,313 18,644 19,014 19,126 19,401 19, 692 19,873 ' 20,119 20, 459
two Census Bureau publications, "Change Sheets" to Mfrs'. Shipments, Inventories, and
Orders: 1967-73 (Series: M3-1.5), issued June and July 1974.
9 Includes data for items not
shown separately.
SURVEY OF CURRENT BUSINESS
August 19T4
1972
Unless otherwise stated in footnotes below, data
through 1972 and descriptive notes are as shown
in the 1973 edition of BUSINESS STATISTICS
1973
1973
Annual
S-7
June
July
Aug.
Sept.
1974
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
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 market category:
Home goods and apparel
mil. $
Consumer staples
__ do _
Equip, and defense prod., excl. auto
do
Automotive equipment
do
Construction materials and supplies
do
Other materials and supplies
do
Supplementary series:
Household durables
.
do
Capital goods industries
do
Nondefense
-do
Defense
- do .
11, 852
14, 373
27, 251
6,081
8,931
39 231
13, 231
16, 024
31, 140
7,305
10, 220
42, 950
12, 586
14, 976
28, 680
6,753
9,378
40, 652
12, 707
15, 254
28, 912
6,708
9,446
40, 883
12,842
15,345
29,464
6,749
9,590
40,917
12,929
15,417
29,820
7,084
9,760
41,104
13,146
15,638
30,302
7,021
9,764
41,353
13,065
15,808
30,582
7,038
10,019
41,923
13,231
16,024
31,140
7,305
10,220
42,950
13, 405
16, 131
31, 572
7,399
10,287
43,776
13,503
16,456
32,238
7,307
10,441
44,886
13,695
16,753
32,721
7,378
10,669
45,284
13 578
16 923
33 142
7 287
11, 055
46 453
"13 675
"16 973
"33,728
" 7 392
" 11, 354
"47 814
13 939
17 043
34 346
7 483
11, 649
48 840
5,562
30, 771
25, 684
5,087
6,263
35, 103
29, 488
5,615
5,904
32, 490
27, 013
5,477
5,936
32, 740
27,306
5,434
5,998
33,351
27,796
5,555
6,065
33, 691
28,163
5,528
6,210
34,200
28,669
6,531
6,112
34,541
29,033
5,508
6,263
35,103
29,488
5,615
6,352
35,553
29,874
5,679
6,537
36,205
30,368
5,837
6,682
36,752
30,786
5,966
6
37
31
5
" 6 721
'38,010
"31,891
" 6 119
6 853
38, 666
32, 459
6 207
72, 686
39, 105
33,581
629
263
285
978
do
- do
do
'755, 061 "886,029
Mil, 291 "493, 171
343, 770 392, 858
77, 650 "69,278
44, 078 "38,621
33, 572 30, 657
72, 497 "76,207
39,001 "41,932
33,496 34, 275
78, 661 "78,052
43, 829 "42,980
34,832 35,072
74, 948 "81,480
40, 566 "44,158
34,382 37,322
83, 377
44, 736
38,641
83, 152 "84,865 88, 749
44, 904 "46,504 ' 49,061
38, 248 " 38, 361 39, 862
do
"2755,061 "2886,029
74, 291
74, 288
75, 407 "74,024
77, 025 "78,601 "76,292 "78,139 "79,127
79, 547
82, 059 "85,264
do
- do
do
Mil, 291 "493,171
78, 642
60, 143
39, 913
29, 813
27, 436
21, 670
41, 946
7,015
3,817
2,232
41, 840
6,658
3,493
2,219
41,983 "41,154
7,150
6,325
3,912
3,068
2,296
2,338
43,304 "43,475 "41,027 "41,515 "42,267
6,868
6,730
5,956
6,624
6,597
3,309
3,109
2,037
3,014
2,863
2,582
2,516
2,899
2,557
2,729
41,974
6,930
3,037
2,764
44, 124 "46,730 "46,848 147,889
7,510 r 9, 002 ' 9, 293 i 8, 460
4,953
3,303 " 4, 653
3,160
2,994 " 3, 142
Fabricated metal products
Machinery except electrical
do
do
Transportation equipmentcf
- do
57, 881
48, 075
80, 432
63, 779
67, 473
57, 171
"102,268 "118,572
" 22, 506 " 24, 499
4,672
6,719
5,682
10, 259
2,199
5,008
6,902
5,676
10, 123
1,841
4,903
6,647
5,701
10, 242
2,161
4,982
6,922
5,537
" 9, 873
" 1, 958
5,135
4,997
5,237
7,174
7,313
7,308
5,816
5,788
5,399
10, 635 "10,733 " 8, 699
2,423 "2,053 "1,788
32, 870
8,260
24, 610
33,721
8,465
25,256
New orders net (not seas adj.), totalcf
Durable goods industries, totalcf
Nondurable goods industries total
New orders net (seas adj ) totalcf
By industry group:
Durable goods industries total 9 cf
Primary metals
- Blast furnaces steel mills
Nondurable goods industries total
Industries with unfilled orders©
Industries without unfilled orders^
By market category:
Home goods and apparel
Consumer staples
Equip and defense prod., excl. auto, cf
Automotive equipment
Construction materials and supplies
Other materials and supplies
Supplementary series:
Household durables
Capital goods industriescf
NondefensecfDefensecf
5,165
8,018
5,751
7,998
1,881
5,557
7,734
6 204
8,758
1,795
" 5, 694
" 8, 087
" 6, 548
" 9, 095
"2,064
44,058
85, 075
5,939
7,841
5,966
' 9, 329 1 10, 937
1,802
do
do
do
343, 770
89, 291
254, 479
392, 858
99, 484
293, 374
32, 345
8, 186
24, 159
32, 448
8,242
24,206
33,424
8,370
25, 054
do
do
do
do
do
do
271,896
2146,254
"2101,209
2
80,395
264,323
2290,984
2 80, 983
2 166, 960
"22121,984
93, 479
2 76, 200
2346,423
6,778
13, 738
10, 450
7,708
6,240
29, 377
6,642
13,846
9,896
8 322
6,406
29,176
do_ __ 231,645 2 36, 761
"2144,072
'•2121,352
do
2
do . 101,842 2123,723
2
"219,510 " 20, 349
do
3,078
12, 520
10, 564
1,956
3,154
11, 746
10, 571
1,175
113, 452
108, 715
4,737
99, 827
95, 066
4,761
102,504 104,888 106,596 108,861 111,401 113,452 117,149 120,559 122,546 124,875 '127,350 129, 405
97, 800 100,225 101,994 104,221 106,722 108,715 112,191 115,522 117,429 119,632 '122,137 "124,536 1128,091
4,602 4,640
4,663
5,117
4,704
4,958
4,679
5,037
4,737
5 243 ' 5, 213 5,127
84 948
114, 694
101,120 103,145 106,268 108,144 110,586 113,015 114 694 116,445 118,599 119,955 122 961 "127,114 130, 872
80, 914
7,964
5 008
1 861
109, 862
14, 844
9,884
2,787
96, 412
13, 181
9,089
2,560
98, 459
13, 815
9,658
2,534
101,545 103,450 105,874 108,297 109,862 111,384
14, 798 14, 857 14, 996 14, 934 14,844 14, 033
10, 540 10, 459 10,309 10051
8,701
9 884
2,528
2,730
2,582
3,106
2,816
2 787
113,584
13, 773
8,401
3,058
114,927 117,817 "122,016 '126,082 1128,945
13,645 14, 106 '15,688 '17,316 117,709
8,019
8 114 ' 9, 302 10, 644
3,136
3,736
3 298 " 3, 586
do
do
do
do
do
do
10 926
14 917
15, 748
25, 035
16 938
4,034
15, 122
22,002
19, 718
30, 355
18, 397
4,832
12 285
17, 926
17, 984
27, 891
17, 774
4,708
12686
18,587
18,256
27, 831
17, 647
4,686
13, 206
19, 118
18, 610
28, 522
17, 927
4,723
13 842
19, 798
18, 857
28, 612
17, 882
4,694
14, 329
20, 621
19,300
29, 126
18, 337
4,712
14 614
21,321
19,706
30, 076
18 456
4,718
15 122
22 002
19, 718
30, 355
18 397
4,832
15 486
22,438
20,459
31, 047
18, 626
5,061
16,073
23,156
21,018
31, 607
18, 941
5,015
16,401
24,207
21,140
31, 430
18, 848
5,028
17 079
25 057
21 617
31, 490
18 555
5, 144
do
do
do
do
2,432
43, 293
10, 270
28, 953
2,881
55, 295
14, 165
42, 353
2,770
49, 448
11,477
37, 425
2,877
49, 831
11,785
38,652
2,761
51,097
12, 274
40, 136
2,806
51, 786
12, 805
40, 747
2 885
52, 724
13 323
41,654
2,978
54,327
13581
42,129
2 881
55, 295
14 165
42, 353
2,949
56, 663
14,512
42,321
2,852
57, 631
14,917
43,199
2,906
58, 342
15,164
43,543
2 961 ' 3 004 2
59, 663 '61,328 62
15 726 '16 182 16
44,611 '46,600 48
1,933
49, 093
30 023
19, 070
2,254
61, 580
40, 840
20, 740
2,230
55, 073
34, 862
20, 211
2,288
55, 672
35, 848
19, 824
2 201
56, 898
36,688
20, 210
2,213
57, 505
37, 492
20, 013
2 281
58 854
38 639
20, 215
2 379
60,659
39 862
20, 797
2
61
40
20
254
580
840
740
2,289
63,048
41, 676
21,372
2,208
64, 661
42, 834
21, 827
2,249
65, 406
43, 728
21, 678
2 300 ' 2 371 2 337 i 2, 303
66 716 '68, 402 '69,535 171,250
45 094 '46 295 '47 274 149,127
21, 622 '22,107 ' 22, 261 122,123
316 601
329,546
29, 003
27, 999
27, 797
27,664
26, 542
26, 689
23, 158
26,241
26 931
26,809
24 268
26 718
23 145
24 627
28617
26209
25 338
27 142
28 270
26578
30 948
29, 406
Unfilled orders, end of year or month (unadjusted),
totalcf
mil. $
Durable goods industries, totalcf
do
Nondur goods ind. with unfilled orders©
do
84, 197
80, 228
3,969
Unfilled orders, end of year or month (seasonally
adjusted), totalcf
mil $
By industry group:
Durable goods industries, total 9 cf
do
Primary metals __
. . do
Blast furnaces steel mills
do
Nonferrous metals
do
Fabricated metal products
Machinery except electrical
Electrical machinery
Transportation equipmentcf
Aircraft missiles and partscf
Nondur. goods ind. with unfilled orders©
By market category:
Home goods, apparel, consumer staples
Equip, and defense prod., incl. auto.cf
Construction materials and supplies
Other materials and supplies
Supplementary series:
Household durables
Capital goods industriescf-Nondefense cf
Defensecf
5,144
5,410
7,087
7,427
6,269
6,180
" 9, 345 " 8, 822
" 2, 242 "2,317
1
do
dc
do
do
c
36,624
9,033
27,591
36,860
8,902
27,958
37,573
8,908
28,665
37, 935 ••38,534
9,263 " 9, 362
28, 672 "29,172
38, 413
9,173
29, 240
6,491
6,732
14, 480 13,926
10, 233 "10,002
8,060
8,105
6,417
6,458
29, 726 28, 801
6,948
7,274
7,135
7,062
6,858
14,488
14911 14, 749 15,283 15,159
10, 470 "11,413 " 10, 702 "11,286 "11,078
8,307
6,882
8,018
6,429
6,887
6,630
6,539
6,558
6,779
6,897
30, 182 30,427 30, 199 31,014 32,620
7,488
15,215
10, 974
6,394
6,577
32,899
7
15
11
6
6
33
539
097
530
969
998
996
" 7, 928
'15,147
'11,926
" 7, 221
" 7, 087
"35,955
7,618
14, 853
11,477
7,334
7,106
36, 687
2,996
3,055
12, 181 "11,727
10, 283 10,389
1,898 "1,338
3,220
3,168
3,358
3,153
3,015
12, 755 "13,284 "12,393 "13,186 "13,479
10, 928 11,160 10, 943 11,003 11,415
1,827 " 2, 124 " 1, 450 " 2, 183 "2,064
3,375
12, 762
11, 300
1,462
3,336
13, 452
11,925
1 527
" 3, 574
' 13, 883
"11, -804
" 2, 079
35, 126
8,687
26,439
35,265
8,601
26,664
' 3, 247 i 3, 154
"13,763 U4,150
'12,011 1 12, 820
" 1, 752 11,330
"17 560 18 435
"26,137 26, 766
'22,218 22, 463
'31,730 "32,082 132,636
' 18, 603 18, 261
' 5, 098
5,052
988
360
690
834
BUSINESS INCORPORATIONSG
New incorporations (50 States and Dist. Col.):
Unadjusted
number
Seasonally adjustedf
do
30 189
27, 912
•
INDUSTRIAL AND COMMERCIAL
FAILURESG
739
772
9,345
Failures, total
number
971
925
9 566
714
717
802
837
840
795
797
693
1,182
123
89
Commercial service
_
do
1,252
114
105
143
94
102
97
99
109
99
86
1,419
Construction
do
112
121
161
169
124
120
140
1 375
13$
107
126
153
114
1,463
Manufacturing and mining
do
149
112
1 576
125
120
130
130
147
116
135
131
117
119
4,341
Retail trade
"do
412
397
316
396
4 398
411
301
361
386
334
331
333
301
73
940
Wholesale trade
do
965
106
69
85
67
89
60
86
83
74
73
81
Liabilities (current) total
thous $ 2 000 244 2,298 606 180 209 206 186 190 147 189 473 185 660 218 673 245 618 337 284 213 133 204 587 209 758 375' 693
244,
958
Commercial service
do
37,
197
19
652
231, 813
9,822
65, 332 18, 349
17, 188 21, 054 30*201 22 378 29 759 69 548 20 508
Construction
___
do
193, 530 309. 075 16, 928 33, 800 21, 225 44, 024 34 791 16,444 24 807 47 237 47 085 36, 391 20, 134 28, 437
Manufacturing and mining
do
766 991 797, 490 89 959 55, 995 55 207 54 935 60 400 44 707 65 696 88 618 96 031 60 849 39, 928 67, 789
Retail trade
do
558, 270 672, 831 36, 923 42, 572 68, 438 46, 552 41 487 115 026 113 393 106 240 27 687 65, 383 38, 726 233, 803
Wholesale trade
do
249 640 274, 252 26 577 36 622 28 089 22 908 18 781 20 118 11 963 25 641 21 822 22 312 45 638 27 315
Failure annual rate (seasonally adjusted)
34.1
39.7
No. per 10,000 concerns..
236.4
»38.3
35.7
39.1
38.6
40.8
38.2
34.7
35.7
37.5
37.0
35.5
" Revised.
v Preliminary.
1 Advance estimate; totals for mfrs.
new and unfilled orders
1[ For these industries (food and kindred products, tobacco manufactures, apparel and other
2
for June 1974 do not reflect revisions for selected components.
Based on unadjusted data.
textile products, petroleum and coal products, chemicals and allied products, and rubber
cf See corresponding note on p. S-6.
9 Includes data for items not shown separately.
and plastics products) sales are considered equal to new orders.
O Compiled by Dun &
©Includes textile mill products, leather and products, paper and allied products, and
Bradstreet, Inc. (failures data for 48 States and Dist. of Col.). . t Revised back
to Mar.
c
printing and publishing industries, unfilled orders for other nondurable goods are zero.
1971 to reflect new sea. factors; re visions prior to Feb. 1973 will be shown later.
Corrected.
SURVEY OF CUEKENT BUSINESS
S-8
Unless otherwise stated in footnotes below, data
through 1972 and descriptive notes are as shown in
the 1973 edition of BUSINESS STATISTICS
1972
1973
1973
June
Annual
August 1974
July
Aug.
Sept.
1974
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
COMMODITY PRICES
PRICES RECEIVED AND PAID BY
FARMERS
Prices received, all farm products
1910-14 = 100..
Crops9
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 5
- - - do
CONSUMER PRICES
(U.S. Department of Labor Indexes)
Not Seasonally Adjusted
All items
1967= 100. _
Special group indexes:
All items less shelter
do
All items less food
. .. _.do
All items less medical care
..do
Commodities
- -do_ ...
Nondurables
- do _ _
Nondurables less food
.
. - - -do
Durables
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 utilities 9
- -_-_do__
Fuel oil and coal _ _
do
Gas and electricity
do
Household furnishings and operation
do __
Apparel and upkeep ..
__
-do.
Transportation
-do ._
Private
do
New cars ..
do -..
Used cars
do
Public
do...
Health and recreation 9
-do
Medical care
do
Personal care
do
Reading and recreation
_ do
Seasonally Adjusted?
Food
-. ... -.
- do
Food at home
do
Fuels and utilities
-..
do
Fuel oil and coal
do
Apparel and upkeep _
do
Transportation
do
Private..
- .- .- ._ . do
New cars
.
do
Commodities. ..
.. . do
Commodities less food
do
320
260
328
245
183
192
273
685
•=371
366
494
137
438
370
379
274
283
378
332
718
496
428
666
232
437
385
427
249
281
294
362
706
482
382
666
221
439
367
423
257
288
299
317
705
500
391
693
232
529
444
356
316
363
506
346
710
604
428
847
307
485
411
342
323
325
537
349
731
548
467
726
280
468
408
323
322
331
506
377
728
521
493
671
252
461
410
338
335
330
518
339
738
506
511
637
242
470
441
343
403
351
570
324
768
495
519
606
250
504
470
352
429
376
620
339
762
534
523
680
255
513
497
407
439
400
649
332
764
527
524
668
252
492
489
357
452
391
596
339
764
495
525
615
228
466
463
369
494
351
486
334
765
469
521
577
205
445
455
429
412
365
440
347
765
437
503
534
178
419
450
414
407
369
446
396
765
393
464
471
166
444
461
410
388
406
493
350
749
429
445
548
180
371
401
350
430
444
420
434
443
428
433
443
426
451
453
451
447
456
441
447
458
439
452
470
439
458
472
448
469
480
461
475
492
463
480
500
466
489
504
479
492
513
477
495
'514
'482
501
518
489
432
74
496
88
501
87
'499
88
517
102
513
95
514
91
519
89
525
90
538
94
545
94
549
90
562
83
564
79
'568
74
573
77
125.3
133.1
132.4
132.7
135.1
135.5
136.6
137.6
138.5
139.7
141.5
143.1
144.0
145.6
147.1
148.3
122.9
125.8
124.9
120.9
121.7
119.8
118.9
119.4
133.3
135.9
123.6
128.0
117.1
125.0
129.2
134.5
119.2
140.1
120.1
118.5
120.5
121.0
122.3
119.9
117.5
111.0
110.5
143.4
126.1
132.5
119.8
122.8
131.1
130.7
132.9
129.9
132.8
124.8
121.9
123.5
139.1
141.8
141.4
160.4
127.9
142.5
135.0
140.7
124.2
146.7
126.9
136.0
126.4
124.9
126.8
123.8
121.5
111.1
117.6
144.8
130 2
137 7
125 2
125 9
130.6
130.3
132.2
129.4
132.0
124.7
122.3
123.7
138.1
140.7
139.8
156.5
124.1
151.7
133.9
139.4
124.0
145.0
125.6
131.6
125.4
124.7
126.8
124.6
122.4
111.0
122.3
144.9
130.0
137.0
124.9
125.9
131.0
130.4
132.5
129.7
132.4
124.4
122.4
123.5
138.4
141.0
140.9
157.8
124.1
153.7
134.2
139.7
124.4
145.2
125.7
131.7
125.5
125.0
125.8
124.8
122.6
110.9
122.7
144.9
130.3
137.3
125.3
126.2
133.5
130.9
135.0
132.8
136.6
124.7
122.6
123.8
139.3
141.9
149.4
184.0
126.6
152.6
135.2
141.1
125.0
147.0
126.3
132.8
125.8
125.3
126.5
124.5
122.3
110.6
121.3
144.9
130.5
137.6
125.7
126.1
133.6
131.8
135.4
132.8
136.5
125.5
122.6
124.3
140.6
143.4
148.3
180.2
130.3
137.3
136.6
142.9
125.4
149.2
126.8
133.6
126.5
126.1
128.3
123.9
121.6
109.1
120.3
145.5
131.1
138.3
126.3
126.8
134.5
133.1
136.4
133.5
137.4
127.0
123.2
125.4
142.2
145.2
148.4
170.7
137.3
138.8
138.1
144.7
125.9
151.5
128.6
141.1
127.4
126.7
129.6
125.0
122.9
111.9
118.5
145.2
132.1
140.6
127.3
127.2
135.6
134.0
137.5
134.7
138.9
128.5
123. 3
126.3
143.0
146.1
150.0
167.4
141.2
143.7
139.4
145.6
126.3
152.6
132.1
155.6
129.8
127.5
130.5
125.8
123.8
112.2
116.1
144.6
132.6
140.9
128.1
127.5
136.5
134.8
138.4
135.7
140.3
130.0
123.2
127.1
143.8
146.9
151.3
165.8
144.9
145.3
140.6
146.4
126.9
153.6
135.9
172.8
131.0
128.0
130.5
126.7
124.6
112.0
112.6
146.5
133.0
141.4
129.2
127.6
137.8
135.6
139.7
137.0
142.1
131.3
123.3
127.9
144.8
148.0
153.7
169.2
146.3
149.7
142.2
147.4
127.3
154.8
140.8
194.6
134.3
129.0
128.8
128.1
126.2
112.9
107.0
146.0
133.7
142.2
129.8
128.3
139.8
136.8
141.5
139.3
145.2
133.5
123.4
129.2
145.8
149.1
157.6
174.2
149.3
155.9
143.4
148.3
128.0
155.8
143.5
202.0
137.3
130.1
130.4
129.3
127.5
112.7
103.0
146.2
134.5
143.4
130.8
128.9
141.5
138.4
143.1
141.0
147.2
136.1
124.3
131.1
147.0
150.4
159.1
171.6
151.5
162.5
144.9
149.4
128.4
157.2
144.9
201.5
140.0
132.6
132.2
132.0
130.4
112.8
102.2
146.6
135.4
144.8
131.8
129.5
142.4
139.7
144.0
141.9
147.8
137.7
126.1
132.8
147.9
151.4
158.6
164.4
153.7
163.0
146.0
150.2
128.8
158.2
146.9
206.5
141.9
134.0
133.6
134.4
133.1
113.3
110.7
146.3
136.3
145.6
133.1
130.4
144.2
141.5
145.6
143.7
149.3
139.5
128.5
134.9
149.4
153.1
159.7
158.6
154.6
177.7
147.6
151.3
129.3
159.4
148.6
211.0
143.9
137.0
135. 0
137.6
136.6
114.6
121.9
146.3
137.7
147.2
134.9
132.0
145.7
143.3
147.1
145.2
150.4
141.0
131.2
136.8
150.9
154.7
160.3
155.1
153.8
183.1
149.2
152.8
129.8
161.2
149.4
214.2
144.5
139.2
135.7
140.7
139.8
116.4
133.6
148.6
139.4
149.4
136.5
133.5
146.8
144.7
148.2
146.1
150.9
141.8
133.0
138.1
152.5
156.6
160.5
154.6
151.6
178.7
150.9
154.4
130.3
163.2
150.9
218.5
146.2
141.4
135.3
142.6
141.9
118.0
140.2
148.6
141.0
151.4
137.8
134.6
139.5
139.5
125.9
132.0
126.7
124.0
121.7
111.3
129.1
123 3
139.9
139.5
126.0
132.9
126.9
124.3
122.0
111.8
129.3
123 6
148.4
150.1
126.6
133.3
127.9
124.4
122.2
112.1
132.7
124 0
148.0
148.8
127.3
134.1
128.0
124.9
122.6
112.6
132.7
124 4
149.1
149.7
129.2
141.8
128.6
125.0
122.8
111.8
133.5
125 0
151.2
151.6
132.2
156.2
129.1
125.8
123.7
111.6
134.7
125 9
151.9
152.4
136.0
173.3
129.5
126.6
124.5
111.0
135.7
126 7
154.5
155.2
140.7
193.6
129.8
127.8
126.2
111.2
137.6
128 3
157.9
159.3
142.9
200.4
131.2
129.7
128.0
111.4
139.7
129 7
158.8
160.0
144.2
199.3
132.5
132.5
131.1
112.0
141.1
131.5
158.1
158.9
146.3
205.3
133.6
134 5
133.2
112 8
141.9
132 9
159.5
160.2
148.3
210.8
134.5
137.2
136.2
114.4
143.6
134.6
160.0
160.4
149.7
214.8
135.6
140.0
139.0
116.8
144.9
136.4
159.4
159.0
151.2
220.5
136.5
142.0
141.2
119.0
145.7
138.2
WHOLESALE PRICESc?
(U.S. Department of Labor Indexes)
Not Seasonally Adjusted
Spot market prices, basic commodities:
1
224.4 236.9
192.1
22 Commodities. .
1967=100
181.9
120. 0 11 173 8 171.2
207.8
194.9
192.0
204.3 213.3 232 0 233.0
230.8 221.6
1
250.0
219,7
191.5
215.1
9 Foodstuffs
_ do
187.2
236.6
197.7
226.8
115.0
208.0
209.4
197.7
231.9
220.1
175 2 172.8
1
227.5 228.2
192.4
226.2
13 Raw industrials
.__ _
_.do
237.2
178.1
186.3
188.1
208.9
238.4
123. 0 i 173 1 170.1
189.8
215.9
232.0
161.7
155.7
All commodities
do
155.0
119.1 '134.7 ' 136. 0 '134.3 '142.1 ' 139. 7 '138.7 ' 139. 2 ' 141. 8 ' 146. 6 ' 149. 5 ' 151. 4 152.7
By stage of processing:
194.5
178.5
186.5
Crude materials for further processing., do
127.6
182.7
200.6
207.5
186.4
205.6
192.7
177.5
185.7
201.3
170.9
174 0
197.1
160.9
166. J
157.6
Intermediate materials, supplies, etc
do
118.7
135.4
138.5
149.1
142.0
144.6
152.8
134.0
131.7
135.8
133.7
134.3
131.6
144.0
148.1
Finished goodsO
do
143.8
117 2
132 0
141.0
142 1
131 9
133 6
137 4
140 1
127 4
127 7
131 2
131 2
127 9
145.4
149.9
146.0
Consumer finished goods
do
116.6
143.2
144.7
133.8
143.8
128.6
134.2
133.2
133.0
135.5
139.9
128.9
129.2
141.5
138.7
Producer finished goods.
do
135.9
119.5
132.4
125.7
130.9
123.4
124.2
125.1
126.7
128.3
129.3
123.5
123.5
123.9
By durability of product:
153.5
150.0
Durable goods.
do
147.3
121 1
139 8
143.4
131 1
132 7
136 5
129 7
134 8
127 9
128 2
128 0
128 5
128 9
168.0
160.1
Nondurable goods
_
do
160.8
159.7
117.6
160 1
145 4
155 5
159 3
145 5
141 9
152 3
147 8
148 6
139 1
139 9
156.4
151.5
Total manufactures
do
149.3
146.0
117.9
143
6
132 8
135 1 138 6
140 9
132 0
129 2
130 1 129 1
131 8
133 4
151.7
148.4
Durable manufactures
do
145.6
141.1
121.1
137.9
130.1
135.0
129.0
131.6
133.8
127.4
128.0
128.3
127.8
127.6
154.5
161.1
Nondurable manufactures
do" 1 1 114.7
150.9
153.1
149.4
135.5
143.4
146.8
138.6
135.0
131.0
132.4
135.3
130.7
138.8
1
Computed by BEA.
9Includes data for items not shown separately.
§ Ratio of
tEffective June 1974 Survey, indexes have been restated to reflect new seasonal factors
prices received, to prices paid (parity index).
d"For actual wholesale prices of individual
data for periods prior to April 1973 on the new basis will be shown later.
c Corrected.
commodities see respective commodities.
O Goods to users, incl. raw foods and fuels.
' Revised.
SURVEY OF CUREENT BUSINESS
August 1974
Unless otherwise stated in footnotes below, data
through 1972 and descriptive notes are as shown
in the 1973 edition of BUSINESS STATISTICS
1972
1973
1973
June
Annual
S-9
July
Aug.
Sept.
1974
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
COMMODITY PRICES—Continued
WHOLESALE PRICES^— Continued
(U.S. Department of Labor Indexes)— Continued
All commodities — Continued
Farm prod., processed foods and feeds. 1967 =100..
122.4
159.1
163.6
156.9
184.5
173.5
166.8
164.4
168.0
177.8
180.6
176.2
169.6
167.4
161.7
172.7
Farm products 9 ._
do
Fruits and vegetables, fresh and dried-do
0 rains
do
Live poultry
do
Livestock
do
125.0
127.6
102.9
104.0
142.5
176.3
168.1
183.6
179.5
190.4
182.3
197.5
178.6
184.5
193.8
173.3
187.8
157.2
189.5
199.3
213.3
162.2
266.4
269.7
243.3
200.4
149.0
231.5
226.5
207.4
188.4
162.1
229.0
189.2
185.5
184.0
168.2
220.8
154.4
180.0
187.2
171.6
248.7
144.5
171.0
202.6
184.5
270.8
143.2
197.3
205.6
214.5
278.1
179.8
195.1
197.0
210.6
263.0
166.1
181.1
186.2
226.9
213.0
146.0
169.0
180.8
236.8
210.4
146.9
159.1
168.6
204.4
224 3
132.8
137 8
180 8
186.9
247 1
148 1
173 6
Foods and feeds, processed?
Beverages and beverage materials
Cereal and bakery products
Dairy products
Fruits and vegetables, processed
Meats, poultry, and
fish
120.8
118.0
114.7
118.6
119.7
130.0
148.1
121.7
134.4
131.1
129.6
167.5
151.8
121.4
125.9
127.5
127.9
164.9
146.6
121.1
125. 5
127.1
127.7
169.7
166.2
121.2
136.2
131.3
129.3
198.3
156.3
121.6
147.7
137.2
130.0
187.3
153.1
123.0
150.5
139.6
135.0
170.2
151.9
123.8
156.2
139.9
136.3
165.0
155.7
124.4
160.1
142.3
137.8
164.9
162.1
125.6
166.3
145.1
139.3
177.8
164.7
126.0
169.5
147.6
140.7
179.7
163.0
129.3
172.3
151.2
141.2
165.5
159.1
132.3
167.1
154.1
142.8
157.6
158.9
134.5
167.1
146.9
145.2
153.4
157.4
138 4
166.0
142.9
148.3
141.8
167.6
143.6
168.9
141.7
157.7
167.2
do
do
do
do
do
do
117.9
125.9
126.0
126.1
126.7
127.4
128.5
130.1
132.2
135.3
138.2
142.4
146.6
150.5
153.6
157 8
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
104.2
91.7
101.2
103.0
115.8
118.0
110.0
96.6
103.4
104.3
228.3
122.2
110.4
95.0
103.0
104.4
263.6
121.0
110.8
96.7
103.4
104.4
263.2
121.0
111.0
95.9
103.5
104.3
273.2
121.0
111.5
95.9
f04.3
104.7
279.5
121.2
112.7
95.9
105.3
104.7
273.0
126.0
113.5
104.9
105.4
104.9
241.8
128.1
115.6
106.1
105.9
105.1
286.0
128.6
118.2
112.3
108.1
105.3
298.0
130.1
120.2
113.1
110.2
105.7
335.7
130.1
127.3
118.1
122.0
106.2
372.4
132.5
132.3
118.2
130.9
107.6
385.4
135.4
137.0
118.3
138.2
109.1
359.3
136.0
142.8
120.2
146.9
111.3
361.3
146.5
148.4
131.0
155.5
112.7
347.3
149.7
Fuels and related prod., and power 9
Coal... -_
- ._.
Electric power
-Gas fuels ._
Petroleum products, refined
do
do
do do
do
118.6
193.8
121.5
114.1
108.9
134.3
218.1
129.3
126.7
128.7
133.4
215.1
128.4
128.0
127.6
134.7
214.0
129.0
128.7
129.9
135.2
214.4
129.1
130.4
130.3
137.4
222.6
130.9
132.2
131.2
139.3
224.1
132.1
133.4
134.0
144.1
239.0
133.5
133.1
140.3
151.5
240.7
135.9
137.6
151.7
162.5
249.3
137.5
137.1
166.4
177.4
252.9
142.2
146.4
187.8
189.0
259.3
148.9
148.6
206.3
197.9
303.7
153.4
149.0
215.8
204.3
307.7
159.7
150.0
224.4
210.5
321.5
164.7
151.4
232.2
221.7
344.0
167.6
187.4
239.4
Furniture and household durables 9
do
Appliances, household
do ..
Furniture, household
do
Home electronic equipment . _ . do
111.4
107.6
117.3
92.7
115.2
108.5
123.0
91.9
115.2
107.4
123.3
91.6
115.2
107.7
123.2
91.6
115.9
109.0
123.6
92.0
116.0
109.0
124.4
91.5
116.6
109.1
125.2
91.5
117.2
109.5
126.6
91.5
117.5
109.8
127.1
91.1
119.0
111.3
128.9
91.3
120.2
111.6
129.8
91.4
121.3
112.5
130.3
92.2
122.9
113.2
132.8
92.2
124.5
114.0
134.9
92.5
126.1
115.4
135.5
93.1
128.2
116.7
136.7
93.6
Hides, skins, and leather products 9
Footwear
Hides and skins
._
Leather
Lumber and wood products
Lumber
_
do
do
do
do
do
do. _.
131.3
124.5
213.7
140.3
144.3
159.4
143.1
130.5
253.9
160.1
177.2
205.2
140.9
129.3
241.6
156.4
183.1
214.8
141.4
129.5
246.3
156.8
177.8
209.6
143.0
129.7
261.6
157.5
178.8
210.8
143.8
130.3
257.3
162.8
181.9
216.9
143.8
131.0
256.3
160.7
180.3
214.5
143.0
131.9
239.8
160.4
184.7
211.1
141.9
132.5
227.3
156.1
186.1
214.8
142.6
134.0
220.9
155.7
183.7
213.3
143.4
134.9
222.0
155.1
184.1
212.6
143.4
135.9
201.7
156.7
191.3
221.4
145.4
138.1
211.2
158.4
200.2
230.9
146.3
138.7
218.6
159.3
198.0
227.3
146.0
139.5
207.2
156.6
192.2
220.2
146.6
139.8
215.5
155.3
188.6
214.2
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
117.9
122.3
125.7
110.4
120.2
121.7
125.9
130.7
112.4
125. 5
121.9
125.4
131.3
112.7
125.6
122.0
125.5
131.3
112.7
125.8
122.3
125.5
131.4
112.7
125.8
122.6
125.6
131.4
112.8
126.6
123.1
127.5
132.5
113.0
127.5
123.8
128.9
132.7
113.3
128.0
124.6
129.4
134.1
114.0
128.9
126.0
130.9
135.6
115.1
131.2
127.0
131.2
137.0
115.7
132.1
129.0
132.6
138.6
116.9
134.3
130.8
133.4
140.1
118.5
136.6
134.1
137.8
145.1
120.6
140.9
137.2
141.1
148.9
123.4
144.6
140.3
143.9
151.4
126.3
149.3
Metals and metal products 9
Heating equipment
Iron and steel... _ _ __ _
Nonferrous metals
123.5
118.2
128.4
116.9
132.8
120.4
136.2
135.0
132. 5
120.7
135.9
135.1
132.8
120.9
135.9
135.9
133.7
120.7
136.0
137.9
134.4
120.7
136.5
138.5
135.9
120.8
138.6
140.7
138.5
121.1
141.6
144.9
141.8
121.6
142.4
155.6
145.0
122.9
144.7
161.1
148.0
123.7
148.9
165.0
154.7
124.4
157.7
176.3
161.2
127.5
164.9
186.5
168.7
130.0
169.1
200.4
174.0
132.7
177.9
200.5
180.3
137.1
190.4
198.4
Industrial commodities
do
do
_ do
__ do
do
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 plastics products
do
Tires and tubes
_
do
126.1
130.2
131.1
130.0
130.0
129.9
130.9
131.5
132.6
138.7
142.1
144.2
146.7
150.7
152.3
156.4
117.3
125.6
114.7
113.4
116.3
109.3
109.2
123.3
131.7
120.9
122.1
121.4
112.4
111.4
123.8
132.3
124.1
122.0
122.5
112.6
110.4
123.8
132.3
122.9
122.3
121.8
112.9
110.4
123.9
132.3
122.5
123.3
121.5
113.1
110.4
123.9
132.5
122.0
124.4
121.7
112.8
110.4
124.6
133.6
122.4
125.8
122.3
114.0
115.1
124.6
134.1
122.0
127.6
124.7
114.8
116.3
124.8
134.5
123.3
128.7
125.2
116.5
116.3
127.2
139.8
127.9
131.8
126.8
117.7
118.0
128.3
142.3
130.0
132.9
127.7
119.8
121.2
130.8
144.7
129.6
137.2
132.6
123.8
128.8
131.5
145.3
132.7
144.4
140.1
129.4
129.6
132.7
147.7
133.3
146.6
141.9
133.7
129.9
134.2
149.9
137.6
147.5
143.0
135.6
131.0
135.2
155.2
138.8
153.3
149.9
139.5
136.9
Textile products and apparel 9 Apparel
Cotton products
Manmade fiber textile products
Textile housefurnishings
Wool products
113.6
114.8
121.8
108.0
109.2
99.4
123.8
119.0
143.6
121.8
113.3
128.2
123.7
118.8
141.3
122.9
111. 5
131.3
124.2
118.8
144.6
123.1
111.5
132.1
125.2
119.3
147.3
123.7
112.2
134.9
126.8
119.5
153.1
126.7
112.3
133.7
128.5
121.5
155.5
127.7
115.2
130.2
130.0
121.9
161.2
128.6
119.1
128.9
131.4
122.2
165.2
129.7
126.4
128.7
133.8
123.7
171.5
130.7
133.0
128.6
135.2
124.6
173.0
132.8
133. 5
129.7
136.1
125.2
173.7
133.6
135.2
127.9
137.5
127.0
175.1
135.2
136.7
121.1
139.1
128.0
174.9
138.1
143.6
121.1
141.7
129.7
181.8
140.7
145.6
119.6
142.1
130.5
184.7
140.3
147.1
119.2
113.7
118.0
115.1
119.2
115.0
118.9
115.0
119.0
115.1
119.0
114.5
118.3
115.9
120.0
116.1
120.1
117.3
121.4
118.6
122.9
118.9
123.1
119.1
123.2
119.4
123.3
121.4
124.9
122.8
126.1
125.1
128.5
do
do
152.5
128.3
154.4
128,2
157.3
129.2
162.1
130.2
165.7
131.4
175.1
133.1
180.7
135.6
188.0
138.0
200.9
140.5
211.8
145.5
221.7
150.2
214.6
155.6
217.1
159.3
230.3
164.2
do
do
do
do
do
do
128.3
144.6
118.3
115.9
120.0
123.4
128.3
143.3
118.6
116.1
120.4
123.6
133.9
158.3
119.1
116.5
120.9
124.1
133.1
154.4
119.5
116.9
121.1
124.7
133.8
155.9
120.4
117.2
122.7
125.4
134.9
156.0
121.8
117.1
124.9
125.8
136.0
157.4
123.0
117.5
126.6
126.6
139.6
162.1
125.5
119.1
130.2
128.0
142.5
166.0
128.1
119.7
133.9
128.9
143.5
163.8
130.9
120.7
137.8
130.6
145.0
163.6
133.4
121.8
141.2
132.3
145.9
162.6
135.7
123.6
144.2
135.8
145.1
156.5
138.5
125.0
147.4
138.7
141.0
162.2
141.0
126.8
150.4
141.6
do
do
do
do
129.8
127.5
177.7
151.2
128.7
127.5
169.7
144.6
133.0
128.1
213.1
165.5
132.1
128.7
201.6
156.0
132.5
129.5
193.6
155.3
133.6
130.6
191.3
154.2
135.6
132.0
190.6
157.0
138.7
133.8
203.2
162.1
140.6
134.9
202.6
163.4
143.2
137.5
193.5
161.9
145.7
140.4
186.6
159.7
148.9
145.2
178.7
158.6
151.2
148.1
164.3
156.8
155.9
151.5
177.1
165.4
$0.735
.755
$0.745
.754
$0.704
.740
$0.716
.738
$0.721
.732
$0.718
.727
$0.705
.722
$0.682
.716
$0.669
.707
$0.661
.699
$0.655
.694
$0. 645
.687
$0.642
.680
$0. 618
.674
do
do
do
do
do
do
Transportation equipment 9 .--Dec. 1968=100..
Motor vehicles and equip.. . .' 1967=100
Seasonally Adjusted
By stage of processing:
Crude materials for further processing
Intermediate materials supplies etc
Finished goods:
Consumer finished goods
Food
Finished goods, exc. foods
Durable
Nondurable
Producer finished goods
By durability of product:
Total manufactures
Durable manufactures
Farm products
Processed foods and feeds
PURCHASING POWER OF THE DOLLAR
As measured byWholesale prices
Consumer prices
'Revised.
.
.
1967=$1.00._
.do
cfSee corresponding note on p. S-8.
555-443 O - 74 - S-2
$0.840
.799
$0.744
.752
9Includes data for items not shown separately.
SURVEY OF CUEEENT BUSINESS
S-10
Unless otherwise stated in footnotes below, data
through 1972 and descriptive notes are as shown
in the 1973 edition of BUSINESS STATISTICS
1972
1973
1973
June
Annual
August 1974
July
Aug.
Sept.
1974
Oct.
Nov.
Dec.
Jan.
Feb.
May
Mar.
Apr.
9,349
10,002
11, 010 "11,752
6, 766
" 3, 279
" 2, 670
"7,309
" 3, 538
" 2, 839
8,022
3,994
3,083
" 8, 553
4,326
"3,317
8,801
4,521
3,526
2, 151 " 2, 170
'508
"552
" 1, 181 ' 1, 167
2,314
569
1,246
2,440
586
1,336
" 2, 535
"648
" 1, 384
2,532
644
1,380
June
July
CONSTRUCTION AND REAL ESTATE
CONSTRUCTION PUT IN PLACE
mil. $.. 124,077
135,437
do
do .
_ do
93, 893
r 54, 288
44,879
102,875
57,604
47,841
Nonresidential buildings, except farm and public utilities, total 9
mil. $
Industrial
do
Commercial
do
Public utilities:
Telephone and telegraph
do
24, 036
-4,766
13, 462
27,584
6,243
15, 453
New construction (unadjusted), total
Private total 9
Residential (including farm)
New housing units
_
Public total 9
Buildings (excluding military) 9 _ _
Housing and redevelopment
Industrial
Military facilities
Highways and streets
12, 302
12, 628
12, 486
9,161
5,257
4,417
9,447
5,424
4,549
9,564
5,460
4,561
9,357
5,287
4,418
9,280
5,010
4,149
2,388
528
1,348
2,479
557
1,397
2,501
572
" 1, 417
2,473
580
1,395
2,576
617
1,441
12,063
10, 685
9,450
8,912
4,692
3,850
8,240
4,242
3,465
" 7, 128
"3,600
" 2, 949
2,500
604
1,394
2,388
635
1,278
r
12, 273 " 11,778
3,302
3,967
357
349
380
347
385
390
354
271
do
30, 184
32,562
2,902
2,855
3,064
3,129
2,993
2,866
2,445
2,332
do
do
do
do
.do
11,500
875
534
1,087
10, 429
12,994
941
605
1,170
10, 559
1,066
81
57
106
1,014
1,020
83
43
102
1,082
1,060
75
42
104
1,142
1,085
64
48
92
1,171
1,129
114
53
98
1,057
1,149
97
52
96
926
1,065
72
57
97
734
1,007
58
C
58
« 99
« 641
New construction (seasonally adjusted at annual
rates), total
_
bil. $..
r
12, 156
359
364
382
" 2, 583 " 2, 693
2,988
" 3, 199
3,335
" 1, 128
"68
68
100
"705
1,231
89
70
107
868
1,388
88
"73
98
72
99
136.0
281
1,155
73
54
93
"700
134.7
137.2
137.4
137.3
136.4
135.6
133.2
132.5
136.3
135.5
136.2
" 136. 4
do __
103.2
105.6
105.5
104.1
103.2
102.2
100.1
"97.6
"98.8
"99.0
98.8
"99.3
99.7
Residential (including farm)
do
New housing units
do
Nonresidential buildings, except farm and public utilities, total 9
bil. $
Industrial
do
Commercial
_
_ _ _
do
Public utilities:
Telephone and telegraph
do
58.2
49.6
59.1
49.7
"69.3
49.5
58.0
48.2
56.2
46.2
54.4
44.2
52.3
42.1
"49.8
"39.8
"49.1
"38.9
"49.2
"39.1
49.6
39.3
'49.5
"39.8
49.7
39.5
27.6
6.0
15.6
28.5
6.5
16.0
28.0
6.4
15.8
27.9
6.8
15.4
28.4
6.7
15.8
28.9
7.1
16.1
29.1
7.3
15.9
"28.7
"6.8
"15.8
30.7
"7.9
16.6
"30.5
7.5
"16.7
29.5
6.9
16.3
"29.8
"7.6
"16.4
29.9
7.7
16.1
Private, total 9
3.9
4.2
4.3
4.1
4.3
4.4
4.0
4.4
do
31.5
31.6
31.9
33.2
33.2
33.4
33.1
"34.8
"37.5
"36.4
37.3
"36.7
36.7
do
do
do
do
do_ ._
12.6
1.0
.6
1.2
10.0
12.1
1.0
.6
1.2
10.7
12.1
1.0
.5
1.1
10.6
12.6
.8
.6
1.0
11.1
13.5
1.4
.6
1.1
10.6
13.2
1.0
.7
1.1
11.0
13.1
.7
.7
1.1
11.2
"13.1
.7
.7
1.3
"12.0
"14.8
"1.1
.8
1.4
" 12. 5
"14.6
.8
.9
1.4
11.0
14.6
"1.1
.8
1.5
11.8
15.5
1.1
".8
1.2
11.8
.7
1.1
Construction contracts in 60 States (F. W. Dodge
Division, McGraw-Hill):
Valuation total
mil. $
91,062 * 100, 914 "9,803
6,610
8,480
Public total 9
Buildings (excluding military) 9
Housing and redevelopment
Industrial
Military facilities
Highways and streets
CONSTRUCTION CONTRACTS
Index (mo. data seas, adj.)
Public ownership
Private ownership
By type of building:
NonresidentialResldentlal
Non-building construction
New construction planning
(Engineering News-Record) O
9,228
10, 303
8,161
8,983
7,905
6,133
5,954
7,911
8,929
10, 158
183
175
199
182
191
194
161
155
187
181
"167
188
166
24,009
67, 016
" 26, 942 '2,963
r
73, 813 " 6, 840
2,581
6,647
2,968
7,335
2,328
6,822
2,055
6,928
2,140
5,765
1,855
4,277
2,135
3,819
2,212
4,398
2,481
5,430
2,336
6,593
3,082
7,076
2,968
5,512
do__
do
do
27, 055
45,020
18,986
" 32, 067 r 2, 927
r
46, 350 "4,574
" 22, 500 "2,302
2,991
4,224
2,013
3,241
4,233
2,828
2,719
3,638
1,794
2,758
3,673
2,552
2,655
3,299
1,951
2,210
2,341
1,581
2,307
2,231
1,415
2,260
2,678
1,672
2,752
3,374
1,785
2,842
3,924
2,163
3,120
3,862
3,176
2,989
3,546
1,945
do
68,001
86, 743
3,996
6,070
8,373
7,416
8,518
10, 669
10,618
10,692
7,321
9,472
8,698
2, 378.5
1, 732.7
2, 356.6
1,309.2
2,057. 5
1,501.7
2,045.3
1, 132. 0
203.4
147.5
202.6
114.8
203.2
141.9
202.6
114.7
199.9
147.2
197.2
106.8
148.9
104.1
148.4
84.5
149.5
101.5
147.1
86.0
134.6
92.3
133.3
70.5
90.6
69.1
90.4
46.8
86.2
63.9
84.5
43.3
109.6
78.7
109.4
57.6
127.2
92.6
124.8
76.9
160.9
" 114.6
159.5
102.2
" 149. 9 " 148. 9
" 107. 0 102.3
" 149. 0 " 147. 0
"99.1
"95.3
127.0
2,152
1,140
2,152
1,232
2,030
1,108
1,844
990
1,674
957
1,675
938
1,403
767
1,464
793
1,922
1,056
1,499
962
1,630
996
' 1,471 " 1, 590
"931 '1,012
1,335
941
1,043
621
1967=100
U65
mil. $
do
-
i 181
7,609
7,646
6,505
HOUSING STARTS AND PERMITS
New housing units started:
Unadjusted:
Total (private and public)
Inside SMSA's
Privately owned
One-family structures.
-
thous
do
- d o
do
Seasonally adjusted at annual rates:
Total privately owned
One-family structures
do
do
New private housing units authorized by building
permits (14,000 permit-issuing places):
Monthly data are seas. adj. at annual rates:
Total
thous
One-family structures
do
Manufacturers' shipments of mobile homes:
Unadjusted
Seasonally adjusted at annual rates
do
do._
2,219
1,033
1,796
870
2,030
934
"1,814
-•902
1,760
806
1,596
778
1,316
654
1,314
647
1,237
606
1,301
638
1,333
729
1,461
784
1,300
734
' 1, 120
••671
" 1, 106
"674
575.9
566.9
56.0
600
49.2
564
52.5
543
43.8
479
45.0
458
39.0
490
27.9
456
28.8
469
30.0
449
36.9
475
42.1
435
41.1
451
39.4
441
166
168
126.4
89.1
CONSTRUCTION COST INDEXES
Dept. of Commerce composite
1967=100
139
152
151
153
155
156
156
158
158
160
162
163
" 165
American Appraisal Co., The:
Average, 30 cities
Atlanta
New York
San Francisco
St. Louis
1913—100
do
do
do
do
1,369
1,563
1,436
1,285
1,286
1,515
1,749
1,590
1,469
1,434
,622
,753
,582
1,497
1,441
1,523
1,762
1,580
1,499
1,471
1,639
1,762
1,591
1,522
1,464
1,647
1,757
1,659
1,518
1,461
1,547
1,756
1,659
1,517
1,461
1,542
1,732
1,653
1,508
1,457
1,544
1,773
1,651
1,504
1,461
1,543
1,770
1,649
1,503
1,461
1,557
1,800
1,660
1,515
1,477
1,586
1,835
1,707
1,540
1,501
1 590
1 838
1 710
1 540
1 516
Boeckh Indexes:
Average, 20 cities:
Apartments, hotels, office buildings
Commercial and factory buildings
Residences
...
.
1967=100. .
do
.. do
145.4
144.8
145.8
154.0
154.4
159.2
164.6
155.3160.7
" Revised.
» Preliminary.
» Computed from cumulative valuation total.
OData for Aug. and Nov. 1973 and Jan. and May 1974 are for 5 weeks; other months,
4 weeks.
157.8
157.7
163.9
157 8
157.7
164.4
158.9
159.3
165.7
9 Includes data for items not shown separately.
162.5
163.0
167.4
:
Corrected.
165.8
167.7
168.6
170.2
174.3
175.0
SURVEY OF CURRENT BUSINESS
August 1974
Unless otherwise stated in footnotes below, data
through 1972 and descriptive notes are as shown
In the 1973 edition of BUSINESS STATISTICS
1972
1973
1973
June
Annual
S-ll
July
Aug.
Sept.
1974
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
170.8
180.6
171.0
182.9
174.2
182.6
174.2
182.6
177.5
185.6
182.2
189.5
CONSTRUCTION AND REAL ESTATE—Continued
CONSTRUCTION COST INDEXES— Con.
Engineering News-Record:
Building
,
Constructlon
168.3
177.0
169.3
178.8
171.2
180.0
171.0
180.1
171.0
180.6
... 1967 = 100..
do
156.2
163.0
168.4
176.5
168.5
176.5
Federal Highway Adm.— Highway construction:
Composite (avg. for year or qtr.)
1987=100._ _
138.2
152.4
145.9
189.7
194.1
209.3
195.1
197.1
206.7
216 1
198 0
191.1
186.9
206.3
186.0
179.1
187.0
160.4
183.5
163.0
172.9
161.5
184.0
191.6
198.5
205.0
200 4
175.0
193.9
219 4
193.1
194.6
235 4
209.4
197.0
282.7
200.3
180.8
285.0
204 1
209 7
319 3
192.2
187.0
259.4
213.7
206.4
301.0
185.2
185.7
230.6
168.8
166.1
158 5
172.8
177.2
132 6
162.2
175.6
147 3
201.6
r
195 0
r igg 4
202.5
208 6
229 7
225.2
83.2
209 2
161 9
9.1
99
14 9
166
7.4
92
12 4
136
6.6
69
13 6
141
7.5
94
10.5
137
3.6
51
12 3
142
5.2
56
10 7
134
2.1
30
7 3
124
3 • O0
46
8 9
124
8 067 06 4 473 30
8,419 86 7 467 53
381 62
650. 60
393 06
665 86
295 11
560 30
266. 34
561.04
358. 37
647. 95
357. 15
720. 58
224 72
470. 36
315 12 r 259 96
648 20 517 37
252 99
533 48
303 86
416 26
334 10
716 12
305 50
906 77
7,979
15, 147
11, 142
12,365
13, 511
14, 298
14,799
14. 866
15, 147
15, 188
14, 904
14, 995
16,020
16, 803
17, 642
51, 369
49,464
5,732
5,054
4 966
3,174
2,786
2,379
2 529
2 346
2 697
3 648
4 490
8 548
26, 594
16 227
8,432
28, 248
12, 784
902
3, 465
1 365
850
3,076
1 128
800
3 056
1 110
571
1,836
767
532
1,547
707
448
1,365
566
425
1,338
766
389
1,298
456
625
793
2 421
1 276
r 861
r 2 818
r 1 238
2 515
1 022
number. . 132, 335
135, 820
11, 509
11, 070
11 239
10,014
11,431
11,017
10, 668
2,639
223
218
221
222
200
211
242
235
273
297
125 9
6 5
127 1
4 0
34
12 5
80
31
14 1
6 8
110 5
2 2
8.1
26
13 0
8 2
96
84
10.9
36
14
10 9
54 3
85
7.0.
36
12
11 5
44 5
170.2
179.6
155.1
171.4
180.5
167.8
187.4
201 4
CONSTRUCTION MATERIALS
Output Index:
Composite, unadjusted 9-Seasonally adjusted
1947-49=100. .
...do
Iron and steel products, unadjusted- .. ..do
Lumber and wood products, unadj
do
Portland cement, unadjusted
do
200 5
258 0
REAL ESTATE 1
Mortgage applications for new home construction:
FHA net applications
-.thous.Tinits-Seasonally adjusted annual rates
do ...
Requests for VA appraisals
do
Seasonally adjusted annual rates
do
Home mortgages Insured or guaranteed byFed. Hous. Adm.: Face amount
.
mil. $
Vet. Adm.: Face amount§
_. _do
Federal Home Loan Banks, outstanding advances
to member Institutions, end of period
mil. $_.
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. .
Foreclosures.
Fire losses (on bldgs. , contents, etc.)
mil. $_ .
2,304
4.8
62
4.2
71
11 5
12 6
163
144
1 459
782
1 967
1 056
11 705
10 419
11 412
263
236
278
138
138
144
133
137
134
140
143
120
133
138
145
151
114
145
80 1
2 3
98 0
2 8
112 1
4 9
11.1
o o
11 5
7 1
659
8.3
89
9.3
71
14 9
14 3
150
157
r
4 917
7.9
91
15 8
185
15 1
159
634 10
4 251
714
DOMESTIC TRADE
ADVERTISING
McCann-Erlckson national
seasonally adjusted:
Combined index.
Television (network)
Spot TV. ..
Magazines
Newspapers
advertising
Index,
1957-59=100
...do
do
_.
do
__do
Magazine advertising (general and natl. farm magazines) :
Cost, total
. ._
mil $
Apparel and accessories .
do
Automotive, incl. accessories
do
Building materials.
.
do
Drugs and toiletries
_
do
Foods, soft drinks, confectionery
do .
Beer, wine, liquors
do
Household equip., supplies, furnlshings__do
Industrial materials
do
Soaps , cleansers, etc .
do
Smoking materials
_.
do
Allother
.
.
do
219
262
341
186
163
233
291
372
188
154
231
277
384
192
149
233
282
344
187
176
230
284
343
189
163
230
305
343
190
146
232
296
350
189
158
238
303
379
197
149
256
317
455
193
163
1 210 6 1 309 2
44 2
46 1
102.1
118.9
25 5
21 0
145 0
140 5
113.6
95.7
109 8
2 o
11.0
2 5
12 6
9 3
81 3
77 2
37
117 1
6 2
140 1
51
12.5
17
12 8
115 7
36
2 7
11 2
68
141 7
5 9
13.5
2 8
13 2
87
9.7
10
12 3
7 9
7 4
7.3
34
13
86
44 4
5 C
3 9
2 6
1 j
84
30 6
64
10 7
11 0
14 8
81 0
72.9
29.4
20 5
94 6
486 2
86 9
77.3
36 6
18 6
110 1
552 9
1
7
1
10
8
6
8
2
1
4
6.0
13
10 6
5.3
39
3.5
7.9
6.7
9.4
6
i
1
0
4 2
17
9 2
54 1
8
8
8
8
4
0
302 8
9 2
91 8
8 7
29 4
163 8
316 9
88
88.6
9 5
41 6
168 3
331
7
85
12
46
179
29 892
14 073
15 819
32, 391
14 958
17, 433
29,849
13,739
16,110
34,067
15, 463
18, 604
31, 895 37, 292 33, 921 34,295 34, 317
18, 672
20 954 20 329 20 390 20 188
13. 223
16. 338 13. 592 13.'905 14. 129
T
Revised.
1 Index as of July 1,1974: Building, 182.2; construction, 189.5.
2 Beginning
Jan. 1974 data reflect new reference base, 1967=100. Comparable data for Jan. 1973 are as follows (1967=100): Combined index, 133; network television, 130; spot TV, 156; magazines, 116:
newspapers, 128.
9 Includes data for items not shown separately.
§Data include
34,728
20 168
14.560
35,667
20 278
15. 389
Newspaper advertising expenditures (64 cities) : ©
Total
.
mil. $
Automotive
do
Classified
.do
Financial.
do
General
do
Retail
..
do
3 496 5 3 786 1
98 0
99 8
881 2 1 024 2
114 5
138 9
478 0
479 2
1 924 8 2 044 1
316 3
88
90 2
11 6
40 8
164 9
298
8
91
17
30
150
2
1
8
31
4 4
2 2
11 1
59 9
6
9
7
7
1
2
9.2
3
2
11
61
5
1
2
3
349
8
80
10
45
203
1
6
7
3
8
8
7.3
5.3
3 2
q
12 0
47 g
322
5
68
9
36
203
2
2
2
2
2
5.3
g
8 5
4 1
37
2.2
2 1
15
9 7
39 7
3
0
1
6
3
3
282 9
80
75 7
13 1
36 8
149 3
33, 895
14,971
18, 924
32, 834
13 894
18, 940
33 694
14 682
19 012
36, 796
20 657
16, 139
37, 292
20 954
16. 338
38, 379
21 158
17. 221
8.6
14
10 9
8 4
51
3.4
2 2
13
10 2
43 6
277
7
74
8
37
149
6
6
2
j
10
47
8
5
6
^
9
5
8.8
2
2
11
50
8
2
5
9
9
3
3
0
4
9
5
6
9
0
6
4
336 7
179 6
314
10
84
12
43
164
32,730
14 103
18 627
37 586
16 628
20958
38 002
17 722
20 280
38,854
21 615
17.239
39,764
22 441
17.323
n
n
89 8
10 4
AK. Q
9.7
9.8
337
9
87
9
46
184
3
3
4
5
5
6
WHOLESALE TRADE
Merchant wholesalers sales (unadj.), total mil. $
298, 199
Durable goods establishments
__
do
138, 446
Nondurable goods establishments
.do ._ 159, 753
Merchant wholesalers inventories, book value,
end of year or month (unadj.), total. . mil. $_
Durable goods establishments
do
Nondurable goods establishments
do
364, 858
167, 713
197, 145
30,104
14 567
15 537
r
38 917
r 18 140
r
20 777
39,462 r 39,848
22 851 r 23 455
16.611 ' 16.393
36, 414
17 488
18 926
40, 298
23 710
16.588
guaranteed direct loans sold.
HHome mortgage rates (conventional 1st mortgages) are
under money and interest rates on p. S-18.
©Source: Media Records, Inc. 64-City Newspaper Advertising Trend Chart.
SURVEY OF CURRENT BUSINESS
S-12
Unless otherwise stated in footnotes below, data
through 1972 and descriptive notes are as shown
In the 1973 edition of BUSINESS STATISTICS
1972
August 1974
1973
1973
Annual
June
July
Aug.
Sept.
1974
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
36,668
42,709
44,200 ' 47,033 ' 45,501
May
June
July
DOMESTIC TRADE—Continued
RETAIL TRADE
All retail stores:
Estimated sale*3 (unadj ) total
448, 379
503, 317
43, 586
41, 665
43, 135
40, 916
43, 721
44, 552
49, 824
37, 923
149, 659
88, 612
81, 621
7,091
170, 275
100, 661
92, 768
7,895
15,410
9,242
8, 522
720
14,518
8,707
8,016
691
14,654
8,619
7,809
710
13,718
7,843
7,188
656
15, 171
8,982
8,258
724
14, 104
8,083
7,342
741
13,409
6,378
5,619
759
11, 477
6,470
5,917
553
11,293
6,391
5,867
524
13,603
7,798
7,158
640
14,445
8,272
7,556
716
Furniture and appliance group 9
do
Furniture honiefurnishings stores., do ..
Household appliance, TV, radio
do
21,315
12,560
7,029
24, 030
14, 290
7,904
2,032
1,228
670
1,940
1,179
634
2,047
1,229
680
1,972
1,142
678
2,049
1,238
660
2,159
1,293
699
2,552
1,370
935
1,928
1,123
654
1,803
1,076
588
2,077
1,267
642
2,034
1,251
626
Lumber, building, hardware group
Lumber, bldg. materials dealers cT.
Hardware stores
do
do.. .
do
20,064
15, 973
4,091
22, 766
18, 049
4,717
2,185
1,704
481
2,080
1,668
412
2,180
1,770
410
1,937
1,536
401
2,068
1,645
423
1,912
1,497
415
1,771
1,283
488
1,453
1,150
303
1,496
1,178
318
1,781
1,410
371
2,008
1,589
419
Nondurable goods stores 9
Apparel group
Men's and boys' wear stores .
Women's apparel, accessory stores
Shoe stores
do
do
do
do__ _
do
298, 720
21, 993
6,198
8,386
3,774
333, 042
24,062
5,609
9,119
4,229
28, 176
1,975
472
756
345
27, 147
1,740
397
677
299
28, 481
1,931
411
698
378
27, 198
1,974
412
747
401
28, 550
2,030
448
783
365
30, 448
2,214
523
842
361
36, 415
3,386
896
1,243
476
26, 446
1,700
409
636
292
25, 375
1,518
344
589
253
29,106
1,848
399
703
323
29,755
2,130
465
781
397
14, 623
33, 891
95, 020
88, 340
31, 044
15, 474
37, 925
105, 731
98, 392
34, 432
1,300
3,353
9,135
8,512
3,008
1,240
3,359
8,976
8,345
3,088
1,303
3,556
9,344
8,687
3,023
1,226
3,339
8,859
8,242
2,837
1,300
3,341
8,929
8,302
2,981
1,286
3,204
9,207
8,596
2,996
1,741
3,272
9,932
9,214
2,908
1,267
2,995
9,145
8,528
2,793
1,255
2,854
8,750
8,142
2,692
1,329
3,238
9,734
9,072
3,088
1,363
3,288
9,348
8,670
3,181
mil. $
Durable goods stores 9
- do
Automotive group
- do
Passenger car, other auto, dealers
do
Tire battery accessory dealers
do
Drug and proprietary stores
Eating and drinking places
Food group
Grocery stores
Gasoline service stations
.
do
do
do
do
. do
General merchandise group with nonstores 9
mil. $
General merchandise group without nonstores9§
.mil. $_
Department store s
do
Mail order houses (dept. store mdse).do
Variety stores
-do
Liquor stores
do
r
15,457 ' 15,113
' 8, 787 ' 8, 624
' 8, 030 7,879
'757
745
r
r
2, 175
1, 362
••649
' 2, 128
1,298
660
r 2, 210
2,170
1,693
477
r
1,720
'490
1
45,958
1
15,408
1
8, 998
1
2, 145
r
31, 576 ' 30,388 i 30,550
'2,044 '1,987 1 1, 866
'481
482
'784
737
321
'331
r
1, 369 1 1, 341
3, 683 i 3, 739
9, 945 i 10,057
9, 237 i 9, 362
3, 498 13,713
' 1, 393
'3,606
10,217
' 9, 510
* 3, 408
'
'
'
'
'
' 7, 439
' 7, 082
74, 903
83, 301
6,771
6,269
6,916
6,594
7,172
8,543
11,618
5,511
5,316
6,735
7,166
68, 936
46, 660
4,722
7,498
9,215
77, 036
52, 292
5,384
8,212
9,602
6,284
4,308
••363
669
825
5,799
3,910
401
603
826
6,391
4,286
453
677
819
6,072
4,142
414
630
759
6,555
4,396
556
665
784
7,886
5,297
714
790
823
11,063
7,734
574
1,326
1,160
5,037
3,369
341
519
740
4,817
3,167
381
517
697
6,174
4,132
479
637
775
6,615 ' 6, 870 ' 6, 581 i 6, 444
4,476 r 4, 677 ' 4, 497 1 4, 305
476
450
390
694
711
727
'837
824
778
do
41, 167
42,767
42, 355
42, 529
42, 970
42, 976
42, 116
42, 932
43, 134
43,872
44,283 ' 44,894 ' 44,491 i 46,266
do
do
do
do
13, 731
7,943
7,328
615
14,409
8,654
7,992
662
14, 481
8,645
7,968
677
14,267
8,457
7,771
686
14, 331
8,482
7,769
713
14,090
8,183
7,492
691
13, 270
7,400
6,681
719
13,525
7,474
6,786
688
13, 327
7,236
6,548
688
13,660
7,403
6,721
682
13,941 ' 14,289 ' 14,018
7,644 ' 7, 854
7,807
7,124
6,964 ' 7, 157
'697
680
683
Furniture and appliance group 9
Furniture homefurnishings stores
do
do
2,006
1,181
675
2,000
1,217
637
2,025
1,189
685
2,063
1,214
686
2,005
1,195
661
2,046
1,204
672
1,975
1,165
668
2,058
1,211
672
2,032
1,231
679
2,191
1,316
703
2,163 ' 2, 215 2,145
1,286
1,290 '1,342
'687
659
699
Lumber, building, hardware group
Lumber, bldg. materials dealersd"
Hardware stores
do
do
do
1,946
1,520
426
1, 894
1,515
379
1,894
1,603
391
1,836
1,428
408
1,867
1,460
407
1,890
1,484
406
1,835
1,450
385
1,858
1,447
411
1,961
1,518
443
2,028
1,572
456
2,012
1,591
421
Nondurable goods stores 9
Apparel group
.Men's and boys' wear stores
Women's apparel, accessory stores
Shoe stores
do
do
do
do
do
27,436
1,997
463
780
338
28,358
2,028
469
788
349
27,874
1,967
450
730
352
28,262
2,042
462
764
371
28,639
2,019
462
751
371
28,886
2,006
463
761
339
28,846
2,051
480
776
346
29, 407
2,053
456
785
357
29,807
2,074
476
781
354
30,212
2,149
501
800
361
30,342 ' 30,605 ' 30,473 i 31,365
2,010 ' 2, 075
2,078
482
479
'482
742
'794
781
337
'333
337
do
do
do
do
do
1,314
3,085
8,598
8,000
2,843
1,305
3,122
9,128
8,507
2,908
1,298
3,158
8,964
8,345
2,836
1,278
3,261
8,992
8,376
2,880
1,332
3,308
9,194
8,568
2,951
1,322
3,331
9,135
8,511
2,966
1,297
3,387
9,264
8,603
2,902
1,323
3,331
9,551
8,874
2,952
1,370
3,326
9,634
8,957
3,059
1,376
3,318
9y594
8,912
3,154
1,408 ' 1, 389
3,429 ' 3, 402
9,689 ' 9, 795
9,003 ' 9, 109
3,236 '3,312
6,939
7,051
6,923
6,989
6,995
7,213
7,002
7,234
7,237
7,543
7,438
' 7, 558
7,466
6,430
4,352
'442
686
807
6,538
4,423
486
684
817
6,402
4,351
442
682
810
6,486
4,406
468
689
807
6,461
4, 357
482
696
811
6,661
4,485
473
726
793
6,464
4,445
403
690
839
6,666
4,456
470
738
820
6,677
4,486
485
707
824
6,992
4,701
498
753
829
6,863
4,663
494
716
842
'7,004
' 4, 763
487
733
'832
6,924
4,670
492
734
824
Estimated sales (seas adj ) total
Durable goods stores 9
Automotive group
Passenger car, other auto, dealers
Tire battery accessory dealers
Drug and proprietary stores
Eating and drinking places
Food group
Grocery stores
Gasoline service stations
General merchandise group with nonstores 9
mil $
General merchandise group without nonstores 9 §
mil $
Department stores
do
Mail order houses (dept. store mdse.)-do
Variety stores
do
Liquor stores
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, .do
Nondurable goods stores 9
do
Apparel group
do
Food group
do
General merchandise group with nonstores
.mil. $. .
Department stores
do
Book value (seas, adj.), total |
do
Durable goods stores 9
do
Automotive group
do
Furniture and appliance group
do
Lumber, building hardware group do
Nondurable goods stores 9
do
Apparel group. _ ...
do
Food group
.
do
General merchandise group with nonstores
mil. $
Dermrtment stores
Hn
60,395
28, 291
14, 190
4,625
4,044
60,008
27, 916
13, 989
4,582
4,050
58,909
25,843
11,854
4,615
3,981
60,148
26,308
12,198
4,662
3,963
62,559
26, 991
12, 657
4,800
3,990
64,951
28, 099
13,490
4,900
3,969
61,643
27, 899
13, 847
4,690
4,024
61, 820
28, 217
14, 150
4,658
4,142
63,364
28, 994
14, 640
4, 687
4,290
65, 538
29, 631
14, 738
4,810
4,434
66,299
29,887
14,723
4,918
4,503
66, 818
29, 986
14, 666
4,978
4,491
67, 156
30, 197
14, 752
5,001
4,550
29, 650
4,614
5,858
33, 744
5,012
6,697
32, 104
4,863
6,139
32, 092
4,883
6,049
33, 066
5,125
6,156
33, 840
5,271
6,308
35, 568
5,512
6,526
36, 852
5,678
6,749
33,744
5,012
6,697
33, 603
4,771
6,588
34, 370
4,892
6,674
35, 907
5,172
6,998
36,412
5,142
6,937
36, 832
5,130
7,031
36, 959
5,041
6,999
12,115
7,265
14, 548
8,379
13, 936
8,124
14, 097
8,247
14,569
8,590
14, 932
8,708
16, 073
9,368
16, 447
9,476
14, 548
8,379
14, 869
8,577
15, 278
8,812
16, 123
9,395
16,631
9,753
16,988
9,921
17, 215
9,938
56, 551
26, 034
12, 306
4,407
3,756
63, 561
28, 778
14, 433
4,765
4,144
59,788
27, 051
13, 041
4,613
3,974
60,213
27, 494
13, 476
4,612
4,030
60,677
27, 563
13,470
4,641
4,047
60,847
27, 507
13, 336
4,643
4,036
61,681
27, 926
13, 627
4,723
4,047
62,937
28, 662
14, 302
4,727
4,041
63,561
28, 778
14, 433
4,765
4,144
64, 261
28, 852
14, 470
4,831
4,218
64,394
28, 789
14, 297
4,787
4,288
64,743
28, 578
13, 805
4,823
4,341
64,855
28,495
13,595
4,851
4,361
65, 615
28, 499
13, 435
4,919
4,338
66,580
28, 893
13, 551
4,988
4,471
30, 517
4,826
5,789
34, 783
5,244
6,618
32, 737
5,035
6,167
32, 719
5,021
6,092
33, 114
5,033
6,250
33, 340
5,008
6,379
33, 755
5,099
6,389
34, 275
5,170
6,478
34, 783
5,244
6,618
35, 409
5,187
6,705
35,605
5,118
6,805
36, 165
5,199
7,016
36,360
5,132
6,927
37,116
5,227
7,043
37, 687
5,219
7,031
12, 930
15, 532
14,258
14, 590
14, 937
14, 925
15, 532
16,103
16, 121
ft 3A&
14,369
ft 489
14, 528
ft CUQ
16, 313
Q 4»n
16,654
Q 7fi8
17, 116
Q Q73
17, 610
10. 234
ft R93
ft R1d
ft 7flft
ft ^R7
ft CUQ
Q 9ftft
Q 37ft
14,901
1,407
3,423
9,785
9,092
3,383
61, 643
27, 899
13, 847
4,690
4,024
7 75J.
1
1,975
1,566
409
54,918
25, 268
11,826
4,336
3,647
r
Revised.
» Advance estimate.
9 Includes data not shown separately.
cf Comprises lumber yards, building materials dealers, and paint, plumbing, and electrical stores.
5 Except department stores mail order.
J Series revised beginning Jan. 1972 to reflect
'2,040
'1,606
'434
i 6, 944
benchmark data from the 1972 Annual Retail Trade Report and new seas, factors; revisions
for Jan.-Dec. 1972 appear on p. 7 of the Mar. 1974 SURVEY.
SURVEY OF CURRENT BUSINESS
August 1974
Unless otherwise stated in footnotes below, data
through 1972 and descriptive notes are as shown
In the 1973 edition of BUSINESS STATISTICS
1973 P
1972
S-13
1973
Annual
July
June
Aug.
Sept.
1974
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July P
DOMESTIC TRADE—Continued
RETAIL TRADE— Continued
Firms with 11 or more stores:
Estimated sales (unadj ) total 9
mil. $
Apparel group ?
do
Men's and boys' wear stores
do _
Women's apparel, accessory stores
do
Shoe stores
do _
Drug and proprietary stores
do
Eating and drinking places _
_ __ _ do ..
Furniture and appliance group
do
General merchandise group with nonstores 9
mil. $
General merchandise group without nonstores §
mil $
Dept. stores, excl. mall order sales
do
Variety stores
__ _
__do
Grocery stores
Tire, battery, accessory dealers
do
do_ __
137, 650
154, 546
12,945
12,214
13,008
12,447
13,181
14,653
18,305
11,656
11, 245
13,414
13,648
14,393
13, 742
6,055
782
2,194
1,694
6,246
2,887
1,902
6,569
749
2,393
1,908
5,857
3,193
2,085
544
66
200
162
498
286
178
451
45
172
139
471
286
166
529
49
186
168
494
305
169
555
54
192
185
465
279
174
545
63
193
157
493
265
169
591
77
213
156
494
265
176
912
119
336
224
751
254
235
413
47
146
123
469
231
190
366
40
133
106
461
220
162
486
55
179
138
514
258
180
589
68
206
178
522
259
179
'519
'64
'196
'141
'529
'277
'190
518
67
195
139
522
278
189
58, 113
65, 569
5,322
4,930
6,426
5,158
5,634
6,749
9,335
4,264
4,135
5,312
5,672
' 5, 882
5,595
55, 100
41, 053
5,933
62, 471
46, 380
6,627
5,077
3,831
543
4,696
3,482
487
6,172
3,819
542
4,907
3,670
509
5,313
3,900
542
6,422
4,678
652
9,068
6,823
1,086
4,035
2,993
409
3,878
2,813
411
5,030
3,686
512
5,401 ' 5, 599 5,348
3,988 ' 4, 171
4,016
574
583
557
49, 206
2,094
55, 165
2,210
4,723
202
4,586
197
4,762
200
4,547
176
4,665
204
4,933
193
5,196
202
4,835
142
4,652
137
5,242
170
4,880
197
5,355
'203
5,096
202
14,008 '14,091
14, 012
do
12,634
13,161
12,812
13, 024
13,332
13,332
13,222
13,716
13,762
14, 036
Apparel group 9
Men's and boys' wear stores
"Women 's apparel accessory stores
Shoe stores
do
do
do
do
Eating and drinking places
do
544
62
204
157
507
263
554
59
210
173
495
255
522
67
185
154
487
274
556
60
198
165
499
282
538
63
182
162
511
280
530
65
190
145
503
289
535
61
187
154
500
257
655
56
211
164
519
256
552
64
198
156
534
259
549
68
202
151
543
255
543
66
197
151
553
261
Estimated sales (seas adj ) total 9
'524
'62
'196
'143
'522
'257
541
64
207
146
539
255
General merchandise group with nonstores 9
mil $
General merchandise group without nonstores §
mil $
Dept stores excl mail order sales
do
Variety stores
do
5,450
5,490
6,454
5,471
5,573
5,674
5,511
5,678
6,726
5,935
5,925
5,198
3,850
560
5,236
3,865
558
5,196
3,846
653
5,234
3,875
561
5,309
3,939
566
5,405
3,998
600
5,265
3,942
545
6,391
3, 969
588
5,425
3,996
570
5,668
4,170
600
5,635 ' 5, 749
5,615
4,185 ' 4, 260 4,127
576
597
586
Grocery stores
Tire, battery, accessory dealers
4,406
172
4,848
191
4,592
189
4,712
190
4,870
204
4,743
181
4,829
172
6,073
183
5,057
188
5,065
180
5,041
187
27, 031 '24,687 >• 24, 333
8, 513 r 8, 516 r 8, 432
18, 518 16, 171 15, 901
10, 445 >• 10, 203 r 9, 822
16, 586 ' 14, 484 '14,511
r 24, 565
' 8, 575
15, 990
r 9, 947
'14,618
'25,261 '25,743 ' 27, 031
r 8, 663 ' 8, 437 ' 8, 513
16, 598 17, 306 18, 518
' 10, 259 10, 337 10, 445
'15,002 ' 15, 406 '16,586
25, 994
8,138
17, 856
10, 012
15, 982
25,709
« 8, 073
17, 636
9,958
15, 751
25,637
8,212
17,425
10,147
15,490
'26,179 '26,775
' 8, 430 ' 8, 794
'17,749 '17,981
'10,628 '11,012
'15,551 '15,763
26, 782
8,924
17, 858
10, 960
15, 822
' 25, 330 ' 25, 440 '25,368
r 8, 386 r 8, 336 ' 8, 344
16, 944 17, 104 17, 024
' 10, 089 10, 183
9, 991
'15,241 '15,257 '15,377
25, 534
8,351
17, 183
10, 223
15,311
26, 015
8,417
17, 598
10, 405
16, 610
26,071
8,535
17,536
10,468
15,603
'26,529
r
8, 658
'17,871
' 10, 779
'15,750
'26,832
' 8, 842
' 17, 990
' 10, 784
' 16, 048
26, 871
8, 764
18, 107
10, 737
16, 134
do
do
All retail stores, accts. receivable, end of yr. or mo.:
Total (unadjusted)
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
25, 068
8,115
16, 953
10, 090
14, 978
r
23, 518
7,940
15, 578
9,671
13, 847
r
r
r
25, 368 '24,765 >• 24, 849
r 8, 344 r 8, 358 r 8, 374
17, 024 16, 407 16, 475
9,991 r 9, 993 r 9, 896
r
15, 377 r 14, 772 '14,953
'24,748
r 8, 587
16, 161
' 10, 046
' 14, 702
'25,047 '24,929
r 8, 465 •• 8, 338
16, 582 16, 591
' 10, 036 r 9, 987
'15,011 '14,942
' 6, 021 5,885
, 5, 071
'187
5,111
180
LABOR FORCE, EMPLOYMENT, AND EARNINGS
POPULATION OF THE UNITED STATES
Total, Incl. armed forces overseas t
mil.. i 208. 84
1
210. 40
210.27
210.40
210. 54
210.68
210.83
210.97
211.09
211.21
211.33
211. 43
211.55
211.66
211.78
211.91
91,040
88 714
84 409
3 452
80, 957
4 304
92, 729
90 414
85 567
4 053
81, 514
4 847
93, 227
90 917
86 367
4 165
82, 201
4 650
92, 436
90 129
§5 Q2i
3 826
82, 095
4 208
91, 298
89 006
84 841
3 436
81,406
4 165
92,046
89 757
85 994
3 525
82,469
3 763
92, 168
89 884
85 828
3 419
82, 409
4 056
91, 983
89 701
85 643
3 202
82,' 441
4 058
91,354
89 096
84 088
3 197
80, 891
5 008
91,692
89 434
84 294
3 283
81,011
5 140
91, 884
89 633
84 878
3 334
81, 544
4 755
91,736
89 493
85 192
3*437
81,756
4 301
92, 158
89 929
85 785
3 604
82, 181
4 144
94, 758
92 546
87 167
3 895
83, 272
5 380
95, 496
93 276
88 015
4 024
83, 991
5 260
88 818
84 518
3 430
81,088
88,828
84 621
3 512
81,109
88704
84 513
3 425
81,088
89 373
85 133
3 376
81,757
89,749
85 649
3 455
82,194
89 903
85 649
3 561
82,088
90,033
85 669
3 643
82026
90,543
85 811
3 794
82,017
90, 556
85,803
3 852
81,951
90, 496
85, 863
3 699
82, 164
90,313
85 775
3 511
82, 264
90, 679
85, 971
3 457
82, 514
90, 919
86, 165
3,293
82, 872
91, 167
86, 312
3,405
82, 907
4 300
789
4 207
755
4 191
777
4 240
768
4 100
756
4 254
'820
4 364
740
4 732
768
4 753
830
4 633
815
4 538
857
4,708
877
4,754
939
4,855
928
4
3
4
14
8
2
9
0
47
31
4 g
14 4
4
3
4
14
7
1
8
3
47
30
4 8
14 3
4
3
4
14
4
3
4
14
4
3
5
14
5
3
5
15
2
4
2
6
5 2
3.5
51
15 3
6.1
3.4
6.0
15 0
50
3.6
4.9
13 8
5.2
3.4
5.1
15.8
5.2
3.5
5.1
15.6
5.3
3.5
5.2
16.2
LABOR FORCE o"
Labor force, persons 16 years of age and over_.thous
Civilian labor force
__
do
Employed, total...
do
Agriculture
do
Nonagricultural industries
do
Unemployed
do
Seasonally Adjusted
Civilian labor force. .
do
Employed, total
.
do
Agriculture,. .
do
Nonagricultural Industries
.
do
Unemployed
do
Long-term, 15 weeks and over
do
Rates (unemployed in each group as percent
of total In the group):
All civilian workers
Men, 20 years and over
Women, 20 years and over
Both sexes, 16-19 years
White
Negro and other races
Married men, wife present
Occupation: White-collar workers
Blue-collar workers .
Industry of last job (nonagricultural):
Private wage and salary workers
Construction
Manufacturing _.- .
Durable goods
88, 991
86 542
81 702
3 472
78, 230
4 840
1,158
6
4
5
16
6
0
4
2
812
4
3
4
14
9
2
8
5
7
0
7
5
8
0
0
4
6 0
10 0
28
4 3
89
23
4 3
88
23
41
9 2
2 i
4 2
88
21
4 2
9 2
2 l
4 1
84
21
4 2
89
21
4 4
86
2 2
4.7
9 4
2 3
4.7
9 2
2 4
4.6
9.4
2.4
4.5
8.7
2.5
4.7
9.5
2.2
4.8
8.8
2.6
4.8
9.4
2.6
3.4
6.5
29
5.3
29
53
2 9
52
29
52
2.9
5.1
26
5.1
2.8
5.4
3.1
5.2
3.2
6.0
3.2
6.1
2.8
6.1
2.8
6.4
3.2
5.7
3.1
6.2
3.3
6.1
5.7
4.8
4.7
4.7
10.3
8.8
9.4
82
56
4 3
4 4
3 80
6.4
3. o
3.9
3.7
c
' Revised.
p Preliminary.
1 As of July 1.
Corrected.
9 Includes data not shown separately.
§ Except department stores mail order,
t Revisions back to 1970 appear in P-25, No. 521, "Population Estimates and Projections,"
May 1974) Bureau of the Census.
6
0
4
0
4.7
8.5
4 o
3.6
5.4
5.4
5.2
5.3
5.1
5.4
5.0
5.3
4.5
4.7
4.8
10.2
10.6
9.6
8.4
10.3
9.1
7.9
8.2
9.6
9.0
9.1
5.2
5.1
4 3
4.7
6.2
5.0
51
53
4 2
39
4 3
4.8
4.4
4.5
5.0
5.0
5.0
5.1
3.6
3.9
4.0
3.7
d" Beginning in the Feb. 1974 SURVEY, data reflect new seasonal factors; comparable
monthly data back to 1967 appear in EMPLOYMENT AND EARNINGS (Feb. 1974), USDL-,
BLS. Seasonally adjusted data through 1966 as shown in the 1973 BUSINESS STATISTICS are
comparable.
SUKVEY OF CURKENT BUSINESS
S-14
Unless otherwise stated in footnotes below, data
through 1972 and descriptive notes are as shown in
the 1973 edition of BUSINESS STATISTICS
1972
1973
1973
Annual
August 1974
June
July
Aug.
Sept.
1974
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July 9
LABOR FORCE, EMPLOYMENT, AND EARNINGS—Continued
EMPLOYMENT
Employees on payrolls of nonagricultural estab.:
Total, not adjusted for seasonal variation. __thous_.
Private sector (excl. government)
do
72, 764
59, 475
75, 567
61,910
76, 308
6?, 565
75, 368
62, 317
76,686
62,715
76,238
62,819
76,914
63,059
77,322
63,281
77,391
63,290
75,613
61,633
75,792
61,594
76,117
61,843
76,706
62,413
77, 225
62,909
77, 871
63,657
76,830
63, 266
72, 764
59, 475
40, 541
23, 061
607
3,521
75, 567
61,910
42,090
24, 093
625
3,648
75, 526
61,867
42,011
24, 139
629
3, 654
75, 478
61, 883
42, 079
24, 115
631
3,680
75,747
62,110
42,249
24,171
634
3,676
75,961
62,305
42,423
24,215
633
3,700
76,363
62,617
42,601
24,349
639
3,694
76,679
62,841
42,746
24,450
644
3,711
76,626
62,739
42,649
24,468
646
3,732
76,526
62,642
42,636
24, 296
654
3,636
76,813
62,819
42,915
24,317
656
3,757
76,804
62,761
42,910
24,231
655
3,725
76,941
62,834
42, 913
24,239
659
3,659
77, 136 77, 073
63,000 62, 947
43, 058 42, 996
24, 268 24, 219
664
'666
' 3, 662 ' 3, 602
76, 951
62, 820
42,953
24,041
674
3,500
Manufacturing
do
Durable goods..
do
Ordnance and accessories
do .
Lumber and wood products
do
Furniture and fixtures
do
Stone, clay, and glass products. . do ..
Primary metal industries
do
Fabricated metal products
do
Machinery, except electrical
do
Electrical equipment and supplies do
Transportation equipment
do
Instruments and related products. .do
Miscellaneous manufacturing
do
18,933
10. 884
188
612
493
660
1,235
1,371
1,864
1,833
1,747
456
425
19, 820
11,633
193
632
522
693
1,315
1,453
2,042
1,996
1,856
495
437
19, 856
11,654
192
628
527
693
1,308
1,457
2,040
2,008
1,871
494
436
19, 804
11, 646
193
628
522
697
1,308
1,459
2,040
2,009
1,858
494
438
19,861
11,692
192
631
527
694
1,323
1,459
2,065
2,006
1,859
500
436
19,882
11,708
190
631
525
696
1,339
1,456
2,073
2,010
1,850
603
435
20,016
11,802
191
634
528
701
1,353
1,466
2,086
2,039
1,858
507
439
20,095
11,859
186
637
528
701
1,357
1,473
2,121
2,048
1,857
512
439
20,090
11,859
190
645
527
707
1,354
1,470
2,128
2,057
1,827
514
440
20,006
11,774
192
645
527
704
1,343
1,466
2,133
2,051
1.753
516
444
19,904
11,683
191
647
523
702
1,331
1,454
2,123
2,043
1,706
521
442
19,851
11,644
193
648
522
703
1,316
1,449
2,134
2,033
1,681
521
444
19,921
11,733
193
654
523
697
1,320
1,456
2,136
2,031
1,756
523
444
19, 942
11, 746
189
'650
'524
'701
1,322
1,458
2,139
2,030
1,764
'524
'445
19, 951
11,778
189
638
'521
'693
1,327
' 1, 460
' 2, 159
' 2, 038
'1,777
'532
'444
19, 867
11, 730
188
631
510
692
1,329
1,448
2,155
2,031
1,770
528
448
Nondurable goods
.
do
Food and kindred products
.do
Tobacco manufactures
do
Textile mill products
do
Apparel and other textile products, .do
Paper and allied products.
do ..
Printing and publishing
do
Chemicals and allied products
do
Petroleum and coal products... . do
Rubber and plastics products, nee .do
Leather and leather products . do
8,049
1,751
72
991
1,335
697
1,080
1,002
190
627
304
8,186
1,736
74
1,024
1,340
718
1,098
1,030
187
683
297
8,202
1,729
76
1,024
1,351
719
1,100
1,030
186
687
300
8,158
1,720
76
1,021
1,319
716
1,101
1,034
186
690
295
8,169
1,706
72
1,026
1,337
721
1,100
1,031
189
691
296
8,174
1,719
70
1,025
1,337
719
1,097
1,038
190
683
296
8,214
1,735
72
1,027
1,340
725
1,098
1,043
190
687
297
8,236
1,749
75
1,028
1,333
725
1,102
1,043
190
694
297
8,231
1,753
75
1,030
1,321
724
1,105
1,042
192
693
296
8,232
1,754
76
1,029
1,315
729
1,106
1,046
193
693
291
8, 221
1,755
76
1,025
1,309
729
1,109
1,045
192
690
291
8,207
1,764
77
1,019
1,294
730
1,105
1,048
190
686
294
8,188
1,750
77
1,016
1,296
728
1,105
1,046
191
684
295
8,196
1,747
76
1,013
1,300
731
' 1, 107
' 1, 050
'193
'685
294
' 8, 173
'1,720
'76
'1,012
' 1, 292
725
'1,112
' 1, 054
'193
'695
'294
8,137
1,709
78
1,001
1,281
725
1,110
1,057
191
697
288
49, 704
4,495
15, 683
3,918
11,765
3,927
12,309
13,290
2,650
10, 640
51, 475
4,611
16, 288
4,079
12,209
4,053
12,866
13, 657
2,627
11, 031
51,387
4,597
16, 262
4,072
12, 190
4,049
12, 820
13, 659
2,613
11,046
51, 363
4,598
16, 294
4,071
12, 223
4,048
12, 828
13, 595
2,588
11,007
51,576
4,617
16,352
4,099
12,253
4,064
12,906
13,637
2,599
11,038
51, 746
4,629
16,388
4,111
12,277
4,078
12,995
13,656
2,613
11,043
52,014
4,671
16,465
4,137
12,328
4,088
13,044
13,746
2,626
11,120
52,229
4,654
16,520
4,163
12,357
4,095
13,122
13,838
2,638
11,200
52,158
4,644
16,398
4,152
12,246
4,101
13,128
13,887
2,654
11,233
52, 230
4,684
16,417
4,184
12, 233
4,109
13, 136
13, 884
2,651
11,233
52,496
4,691
16,472
4,192
12,280
4,124
13,215
13,994
2,670
11,324
52,573
4,676
16,487
4,190
12,297
4,127
13,240
14,043
2,675
11,368
52,702
4,668
16,549
4,202
12,347
4,130
13,248
14,107
2,681
11,426
' 52, 868 '52,854
' 4, 664 ' 4, 648
' 16, 594 ' 16, 575
'4,211 ' 4, 197
' 12, 383 ' 12, 378
' 4, 145 ' 4, 142
' 13, 329 ' 13, 363
' 14, 136 ' 14, 126
2,698 ' 2, 684
' 11, 438 ' 11, 442
52,910
4,637
16, 612
4,187
12, 425
4,133
13, 397
14, 131
2,664
11,467
Production or nonsupervisory workers on private
nonagric. payrolls, not seas, adjusted
thous. . 49, 223
Manufacturing
do
13, 838
51,276
14, 575
61,899
14, 739
51,616
14, 458
51,976
14,727
52,063
14,841
52,286
14,866
52,483
14,886
52,485
14,799
50, 823
14,513
50,772
14,422
50,985
14,405
51, 530 '51,969 ' 52, 640
14,454 ' 14, 486 '14,717
52, 176
14, 415
51,276
18,062
476
3,011
14, 575
8,548
99
544
431
554
1,058
1,121
1,381
1,378
1,334
306
342
61,241
18,111
477
3,020
14, 614
8,573
98
542
436
555
1,052
1,126
1,380
1,389
1,348
306
341
51, 247
18,093
479
3,048
14, 566
8,562
99
541
431
557
1,050
1,127
1,379
1,392
1,338
306
342
51,442
18,135
483
3,041
14,611
8,597
97
544
434
554
1,066
1,129
1,399
1,384
1,339
311
340
61, 692
18,155
483
3,063
14,609
8,599
96
544
434
554
1,082
1,123
1,398
1,386
1,332
311
339
51,856
18,257
488
3,049
14,720
8,674
97
546
434
562
1,093
1,131
1,411
1,412
1,331
314
343
52,044
18,322
491
3,057
14,774
8,712
93
548
434
561
1,096
1,137
1,441
1,417
1,324
318
343
51,915
18,347
495
3,081
14,771
8,712
96
555
434
568
1,094
1,134
1,447
1,423
1,298
320
343
51,781
18, 157
501
2,974
14, 682
8,624
96
555
434
565
1,079
1,127
1,448
1,417
1,233
321
349
51,948
18,156
503
3,090
14,563
8,524
96
557
430
565
1,067
1,117
1,435
1,407
1,180
324
346
51,855
18,079
500
3,063
14,516
8,489
96
557
430
565
1,053
1,111
1,444
1,396
1,164
325
348
51,917
18,086
504
3,000
14,582
8,578
96
561
430
559
,055
,117
,446
,397
,242
328
347
' 52, 039 '51,972
' 18, 092 ' 18, 035
507
'507
2,995 ' 2, 939
' 14, 590 ' 14, 589
' 8, 577 '8,597
93
94
'545
'429
'430
556
563
1,058 '1,062
'1,118 ' 1, 120
1,444 ' 1, 456
' 1, 391 ' 1, 397
'1,247 ' 1,259
'333
'328
'347
349
51, 799
17, 867
512
2,848
14, 507
8,548
92
536
420
556
1,062
1,111
1,446
1,389
1,254
331
351
5,919
1,180
59
871
1,165
537
657
581
117
489
261
6,027
1,172
61
900
1,163
557
662
600
118
538
254
6,041
1,165
63
900
1,175
557
664
599
117
544
257
6,004
1,160
64
899
1,140
556
663
605
118
546
253
6,014
1,144
60
902
1,161
561
662
603
120
547
254
6,010
1,157
57
899
1,160
558
661
606
120
538
254
6,046
1,171
59
902
1,161
563
662
610
120
543
255
6,062
1,184
62
903
1,155
562
664
608
120
549
255
6,059
1,191
62
904
1,144
560
666
609
122
547
254
6,058
1,196
63
904
1,137
565
666
611
123
545
248
6,039
1,196
63
899
1,131
565
668
607
120
542
248
6,027
1,204
64
893
1,118
565
662
611
120
538
252
6,004 ' 6, 013 ' 5, 992
1,190 ' 1, 189 ' 1, 163
'63
63
64
886
888
890
1,120 ' 1, 123 ' 1,116
'561
565
563
'671
'663
661
'610
'609
607
'122
'123
120
'549
'538
537
'251
'252
252
5,959
1,156
65
877
1,103
559
670
613
121
549
246
32,018
3,883
13, 923
3,278
10, 645
3,072
11, 140
33, 215
3,967
14, 451
3,411
11,040
3,147
11,650
33,130
3,960
14,421
3,406
11,015
3,144
11,605
33, 154
3,952
14,449
3,404
11,045
3,142
11,611
33,307
3,969
14,489
3,423
11,066
3,153
11,696
33,437
3,972
14,527
3,432
11,095
3,162
11,776
Seasonally Adjusted t
Total employees, nonagricultural payrolls t__ do
Private sector (excl. government)
do
Nonmanufacturing industries
do . .
Goods-producing
do
Mining
. do
Contract construction
do
Service-producing
Trans., comm., electric, gas, etc. .
Wholesale and retail trade
Wholesale trade
Retail trade
Finance, insurance, and real estate
Services
...
Government
Federal
State and local
..
..
do
do
do ..
do
do
do
do
do
do
do
Seasonally Adjusted};
Production or nonsupervisory workers on private
nonagricultural payrolls t. . . .
thous . . 49, 223
Goods-producing...
._
.
do
17, 205
Mining
do
459
Contract construction . .
do
2,908
Manufacturing
. .
do
13, 838
Durable goods
do
7,919
Ordnance and accessories
do
94
Lumber and wood products
do
527
Furniture and
fixtures
do „_
408
Stone, clay, and glass products
do
527
Primary metal industries- .
do
984
Fabricated metal products.
do
1,049
Machinery, except electrical
do ..
1,236
Electrical equipment and supplies. ..do
1,238
Transportation equipment
do ..
1,248
Instruments and related products
do
276
Miscellaneous manufacturing
do .
331
Nondurable goods
do ,.
Food and kindred products
do
Tobacco manufactures
do ',.
Textile mill products
.
do
Apparel and other textile products.. .do
Paper and allied products
do
Printing and publishing..
do
Chemicals and allied products
do
Petroleum and coal products _
do -.
Rubber and plastics products, nee... do
Leather and leather products
...do
Service-producing
.
do
Transportation, comm., elec., gas, etc
do...
Wholesale and retail trade
do
Wholesale trade
...do...
Retail trade
do
Finance, insurance, and real estate
„, do .
Services .
do
r
Revised.
» Preliminary.
{Revised seasonally adjusted payroll employme nt, hours, earnings , etc. (back to J an.
1968) were not incorporated in the 1973 edition of BUSINESS3 STATISTI cs. Re vi sed data for
'33,947 '33,937 33, 932
3,975
4,008 '3,987
' 14, 687 ' 14, 663 14, 693
3,494
' 3, 519 ' 3, 501
' 11, 168 ' 11, 162 11, 199
3,174
' 3, 186 ' 3, 185
' 12, 066 ' 12, 102 12,090
1968-'12 appear in EMPL OYMENT AND EAB NINGS (J une 1973) ,USDL BLS; se asonally adjusted
data f or 1947-67 as shovrn. in the 1973 Bu SINESS S TATISTICS are com parable \yith the current
data.
33,599
4,019
14,596
3,456
11,140
3,165
11,819
33, 722
4,002
14, 657
3,483
11,174
3,171
11,892
33, 568
3,988
14,517
3,468
11, 049
3,169
11,894
33, 624
4,028
14, 528
3,494
11,034
3,162
11,906
33,792
4,033
14,599
3,502
11,097
3,174
11, 986
33,776
4,016
14,599
3,506
11,093
3,178
11,983
33,831
4,006
14,654
3,509
11,145
3,181
11,990
SUKVEY OF CURKENT BUSINESS
August 1974
Unless otherwise stated in footnotes below, data
through 1972 and descriptive notes are as shown
in the 1973 edition of BUSINESS STATISTICS
1973
1973
1972
S-15
Annual
June
July
1974
Sept.
Aug.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July »
'36.7
'37.0
'43.2
'37 1
40.4
40.1
36.9
37.3
43 2
37 1
40.1
40.3
33
LABOR FORCE, EMPLOYMENT, AND EARNINGS—Continued
AVERAGE HOURS PER WEEK
Seasonally Adjusted
Avg. weekly hours per worker on private nonagric.
payrolls^ Seasonally adjusted
hours..
Not seasonally adjusted
do
Mining
do
Contract construction
.
-do
Manufacturing: Not seasonally adjusted
do
Seasonally adjusted
do
Overtime hours
do
37.2
42 5
37 0
40.6
37.1
42 4
37 2
40.7
37.1
37.4
42.5
37.4
40.9
40.6
37.2
37.6
42 4
37 5
40.5
40.7
38
35
38
3.8
Durable goods
. _. ..
..do
Overtime hours
do
Ordnance and accessories 0 _ _
do
Lumber and wood products _
_do
Furniture and fixtures _
do
Stone clay and glass products. _
do _
Primary metal industries
do
Fabricated metal products
do
Machinery except electrical
-do
Electrical equipment and supplies. ...do
Transportation equipment
do
Instruments and related products
do
Miscellaneous manufacturing ind . .do
41.3
36
41 5
4 i
41 4
4 0
41 0
40.5
41.9
41.6
41.2
42.0
40.5
41.8
40.5
39.3
40
39
42
42
41
42
40
41
40
39
Nondurable goods
Overtime hours
Food and kindred products
.
Tobacco manufactures §-.
Textile mill products
Apparel and other textile products
do
do
.do
do
do
.do
39.7
40.4
37.4
41.3
36.0
39 6
34
40 4
38.3
40 8
35 8
39 6
33
40 1
37.8
40 8
36.0
39 6
34
40 2
36.0
40 8
35 9
do ..
do
.do
do
do _
...do
42.8
37.9
41.8
42.2
41.2
38.3
42 7
37 9
41 9
42 2
41 0
37.9
42.7
37.8
42.0
41.7
40.7
38.1
40.4
35.1
39.8
33.6
37.2
34.1
40 6
34 7
39.5
33.2
37 1
34 1
142.46
115 37
1 34
6 78
39 68
9.47
°8 68
7 59
21 83
27 09
Paper and allied products
Printing and publishing
Chemicals and allied products .
Petroleum and coal products.
Rubber and plastics products, nee
Leather and leather products
Trans comm., elec. gas, etc
Wholesale and retail trade .
Wholesale trade..
Retail trade...
Finance, insurance and real estate.
Services
.
do
do .
do
do
do
do .
37.0
37.5
42 6
37 1
40.5
40.5
37
37.2
37.3
42 9
36 7
41.0
40.8
38
37.0
37.0
42 5
36 9
40.7
40.6
37
37.1
37.0
42.8
38.5
40.8
40.6
41.4
3.8
37.0
37.2
43.3
37.2
41.2
40.7
36.7
36.4
42.6
36 2
40.0
40.3
34
37.0
36.6
43.4
37 7
40.1
40.5
35
36.8
36.6
42.9
37 1
40.3
40.4
36
36.6
36.3
42.5
36 2
39.1
39.3
2 9
36.8
36.6
43.2
r
36. 9
40.3
40.3
'3.4
41.3
40.8
35
41.1
36
40.9
37
39.8
2 9
40.9
3.6
'34
40 8
40 8
3 4
41.3
40 2
39 4
41.4
41 3
40 8
42.2
40.0
40 8
40.1
39.0
39.4
3.7
'34
41 4
4 1
41 1
3 Q
41 4
4 0
41 3
39
40
39
42
42
41
42
40
42
40
38
40
39
42
41
41
42
40
41
40
38
40
39
42
42
41
43
40
41
40
39
7
7
2
7
5
0
4
1
9
1
40 3
39 4
41 9
42 7
41 5
42 6
40.0
41 5
40 8
38.6
40.3
39.4
42.1
43.4
41.6
42.3
40.2
41.1
40.9
38.9
40.9
39.6
42.2
42.4
41.5
42.9
40.1
41.0
41.0
38.8
40 4
39.8
41.6
41 8
41.0
42.3
39.6
40.0
40.6
38.3
40 6
39.7
41.9
41 4
41.2
42.5
40.2
40.6
40.8
39.0
40 3
39.5
41.7
41 5
41.3
42.4
39.9
40.3
40.5
38.9
40.1
38.8
41.2
41.2
39.6
40.7
39.0
38.9
39.4
37.6
40.1
'39.4
••41.6
'41.6
'41.1
42.3
'40.0
'40.5
40.3
38.9
'41.8
39 9
'39.5
'41.5
'41 6
40.9
'42.5
40.0
'39.9
'40.4
39.0
39 5
33
40 4
38.5
40 8
35 7
39 8
34
40 6
37.9
40 9
35 9
39.7
39.7
39.8
39.6
39.6
39.5
38.7
39.4
39.3
40.6
39.2
40.5
35.8
40.8
40.7
40.6
35.7
40.6
'38.8
'40.2
35.6
40.5
'37.0
40.1
'34.7
40.5
38.7
40.3
35.4
42 7
37 7
42 1
42 4
40 8
37.8
42 4
37 7
42 1
42 1
40.5
38.1
42 8
38 0
42 0
42 5
41 0
38.4
42 6
37 9
41 9
42 2
40 8
38.0
40.7
34.9
39.5
33.5
37.1
34.4
40 7
34 7
39.5
33.2
37.2
34.2
40 9
34.5
39.4
33.0
37.0
34.2
40 6
34.6
39.5
33.2
37.2
34.1
147. 29
119 87
1.38
7.06
41.62
9.74
29.46
7.82
22 81
27.41
147.53
120.18
1.39
7.13
41.63
9.72
29.57
7.82
22.92
27,35
147.30
119 91
1 39
7.20
41.52
9.72
29 44
7.84
22 80
27.40
147.35
119.97
1.40
7.12
41.48
9.81
29.40
7.82
22 94
27.38
106 6
98 1
97 5
105 5
96 8
94.9
99 5
112 5
104.4
110 4
109.0
110 9
120.1
116 8
110.8
103.3
100 9
109.7
102.2
102.9
101.1
116. 1
107.2
113.3
112.4
113.7
122.7
122.1
111.1
103.4
101.4
110.7
102.2
102.9
101.2
116.5
107.2
113.8
112.3
114.3
122.7
122.6
110.9
103.4
101.6
112.0
102.0
102.9
100.6
116.0
107.0
113.2
112.2
113.6
122.9
121.9
3.65
4.38
3.89
4.70
3.87
4.67
3 81
3.65
4.05
3.88
4.07
3.88
4.32
4.12
3.31
3.06
3.91
4.66
3.99
4.27
3.67
4.73
3.72
3.11
3.58
3.26
4.18
5.03
4.24
4.55
3.86
5.07
3.88
3.27
3.3
6
9
1
4
6
6
4
9
7
o
40
40
42
41
41
42
40
41
40
38
9
1
2
9
5
5
1
9
5
9
5
8
1
2
6
2
2
3
6
9
7
7
0
8
3
4
1
0
4
7
4.0
3.5
3.9
3.4
3.3
2.8
3.2
40.9
38.9
40.8
35.9
3.4
3.3
40.8
39.5
40.6
35.2
40.8
38.8
40.7
35.6
40.4
37.7
40.4
35.5
39.8
38.8
39.2
34.5
42.7
37.9
42.0
43.0
41.2
38.0
42.8
37.8
41.9
42.7
41.0
37.5
42.8
37.7
41.8
42.5
40.6
37.2
42.5
37.7
42.0
42.6
40.9
37.8
42.6
37.6
41.8
42.8
40.8
38.1
41.7
37.1
41.8
42.5
39.3
37.3
42.3
'37.8
41.8
'42.2
'40.3
37.6
'42.3
'37.7
'41.9
'42.5
40.5
'37.6
42.3
37.6
41.9
42.3
40.7
37.5
40 8
34.5
39.3
33.0
36.9
34.0
40.7
34.6
39.4
33.1
37.0
34.0
40.4
34.5
39.1
32.9
37.2
34.0
40.8
34.3
39.1
32.8
36.9
34.0
40.4
34.4
38.9
33.0
37.0
34.1
40.3
34.3
38.9
32.9
36.9
34.0
40.9
34.5
38.9
33.1
36.9
34.0
'40.8
34.3
39.1
32.9
'36.9
34.1
'40.9
'34.3
'39.0
'32.9
'36.8
'34.2
40.9
34.3
39.1
32.8
36.8
34.2
148.03
12054
1.41
7.09
41.75
9.76
29.61
7.90
23.03
27.49
148.53
120.86
1.41
7.11
41.95
9.90
29.58
7.85
23 05
27.67
149.24
121.74
1.43
7.46
42.16
9.84
29.77
7.88
23.19
27.50
149.11
121.09
1.45
7.25
42.14
9.74
29.36
7.94
23.20
28.02
148.36
120.40
1.45
6.84
41.69
9.94
29.37
7.88
23.22
27.95
149.25
121.23
1.48
7.36
41.61
9.86
29.55
7.94
23.43
28.02
149.07
120.67
1.46
7.19
41.38
9.80
29.51
7.92
23.41
28.41
110.9
103.1
102.9
110.6
101.8
102.6
100.7
116.3
107.9
113.0
112.6
113.1
122.7
122.8
111.4
103.7
103.7
110.2
102.6
103.5
101.2
116.8
107.2
113.8
113.1
114.1
123.7
123.3
111.7
104.0
103.8
110.3
103.0
104.0
101.4
117.0
109.0
113.7
113.4
113.9
122.8
123.4
112.5
105.3
105.1
115.3
103.6
104.6
102.0
117.5
108.3
114.6
114.5
114.6
123.4
124.1
111.8
104.9
107.2
112.3
103.5
104.6
102.0
116.6
107.1
112.8
113.2
112.6
124.0
124.2
111.0
102.5
106.8
105.5
101.8
102.1
101.4
116.8
109.3
112.6
114.0
112.1
122. 7
124.3
111.8
103.6
109.2
114. 2
101. 5
101.6
101.4
117.5
108.3
113.5
113.7
113.4
123.5
125.5
111.2
102.5
107.3
111.4
100.8
100.8
100.8
117.2
107.6
113.3
113.8
113.1
123.3
125.1
110.6
100.2
107. 2
106.4
98.9
99. 2
98.4
117. 8
108. 9
114.2
113. 9
3.90
4.70
3.91
4.69
3.99
4.78
3.99
4.76
4.00
4.86
4.01
4.92
4.02
4.99
4.04
4.99
4.06
4.99
4.07
5.09
4.14
5.12
4.04
3.86
4.30
4.09
4.06
3.89
4.31
4.12
4.06
3.88
4.31
4.11
4.13
3.93
4.39
4.17
4.14
3.95
4.39
4.19
4.16
3.97
4.42
4.21
4.21
4.02
4.48
4.28
4.21
4.04
4.47
4.29
4.21
4.05
4.47
4.29
4.24
4.07
4.50
4.31
4.25
4.11
4.50
4.35
4.33
4.15
4.60
4.41
3.61
3.25
4.17
4.96
4.24
4.50
3.83
5.05
3.84
3.27
3.59
3.25
4.20
5.00
4.24
4.51
3.86
5.06
3.87
3.26
3.62
3.28
4.21
5.10
4.24
4.53
3.88
5.02
3.87
3.26
3.68
3.33
4.26
5.16
4.30
4.61
3.91
5.10
3.93
3.31
3.67
3.34
4.27
5.14
4.32
4.63
3.91
5.14
3.93
3.31
3.65
3.34
4.28
5.23
4.35
4.65
3.93
5.16
3.95
3.33
3.68
3.36
4.29
5.23
4.39
4.75
3.98
5.32
4.04
3.36
3.68
3.36
4.27
5.24
4.38
4.73
3.98
5.28
4.04
3.41
3.73
3.39
4.30
5.25
4.39
4.75
3.97
5.23
4.05
3.42
3.74
3.41
4.33
5.30
4.43
4.78
3.99
5.27
4.06
3.43
3.76
3.42
4.39
5.38
4.40
4.73
3.99
5.25
4.06
3.43
3.81
'3.47
'4.45
'5.53
4.52
4.84
4.06
5.36
4.10
3.48
3.3
3.1
3.2
MAN-HOURS
Seasonally Adjusted
Man-hours of wage and salary workers, nonagric.
establishments, for 1 week in the month, seasonally adjusted at annual rate i.-bil. man-hours. .
Total private sector
do
Mining .
do
Contract construction
do
Manufacturing
.
.do .
Transportation, comm., elec., gas
do
Wholesale and retail trade
do
Finance, insurance, and real estate
do
Services
do
Government
do
Indexes of man-hours (aggregate weekly) :J1f
Private nonagric. payrolls, total
1967=100
Goods-producing
.. .
do
Mining
do
Contract construction
do
Manufacturing ...... ..
._ do
Durable goods
do
Nondurable goods
do
Service-producing .
do
Transportation, comm., elec., gas
do
Wholesale and retail trade
do
Wholesale trade
_ .do .
Retail trade ...
do
Finance, insurance, and real estate
do
Services
do
148. 33 '149.88 '149.62
120. 16 121. 29 ' 121. 20
1.46
1.49
'1.50
6.89
'7.03 '6.95
40.79
41.54 ' 41. 49
9.93 '9.90 '9.88
29.75 ' 29. 75 ' 29. 69
7.92
'7.95
'7.93
23.42
23.64 ' 23. 76
28.17 ' 28. 59 ' 28. 43
125.2
111.7
102. 5
109.6
108. 3
101. 2
101.8
'99.4
118.1
r
108. 7
' 114. 1
' 114. 8
' 113. 8
' 123. 6
126.3
'
'
'
'
149. 27
120. 91
1.51
6.75
41.34
9.86
29.70
7.91
23.82
28.36
' 111.6
102.0
'109.6
'106.9
'100.9
' 101. 8
99.6
'118.2
' 108. 4
' 113. 8
' 114. 0
' 113. 8
' 123. 3
' 127. 1
111.2
101.3
110.7
103.5
100.6
101.3
99.5
118.1
108.1
113. 9
114.0
113.8
122.8
127.0
'4.18
'5.19
'6.68
'4.38
'4.20
'4.65
4.45
'4.78
'3.88
'3.49
'4.52
' 5.59
'4.55
'4.88
' 4.11
'5.41
'4.13
'3.49
4.19
5.24
6.77
4.40
4.23
4.66
4.48
4.74
3.88
3.47
4.52
5. 58
4.54
4.87
4. 14
5.47
4.18
3.48
HOURLY AND WEEKLY EARNINGS
Average hourly earnings per workerrlf
Not seasonally adjusted:
Private nonagric. payrolls
Mining
Contract construction©
Manufacturing
Excluding overtime
.
Durable goods ... ..
Excluding overtime
dollars..
do
do
do
do
do
do. .
Lumber and wood products
do
Furniture and fixtures
do .
Stone, clay, and glass products
do
Primary metal industries
do
Fabricated metal products
do .
Machinery, except electrical
...do
Electrical equipment and supplies .do
Transportation equipment
do
Instruments and related products. .do
Miscellaneous manufacturing ind.. .do
r
Revised.
*> Preliminary.
J See note"l", p. S-14.
§ Revised beginning June 1971 to correct errors of estimation; revisions appear at bottom
of p. 8-14, Oct. 1973 SURVEY.
^ Production and nonsupervisory workers.
© Corrected data for June 1974 and July 1974 are not comparable with figures previously
published for the period Mar. 1971-May ~1974. Revised back data (not now available) are
scheduled for release in Dec. 1974.
D NOTE FOR WORK STOPPAGES, P. S-16—Revised data for Jan.-May 1973 (order
and units as on p. S-16): Jan., 380; 540; 150; 220; 1,660; Feb., 350; 560; 150; 230; 1,335; Mar., 460;
700; 140; 190; 1,344; Apr., 470; 730; 160; 210; 1,832; May, 540; 840; 180; 260; 2,709.
SURVEY OF CUERENT BUSINESS
S-16
Unless otherwise stated in footnotes below, data
through 1972 and descriptive notes are as shown
fn the 1973 edition of BUSINESS STATISTICS
1972
August 1974
1973
1973
June
Annual
July
Aug.
Sept.
1974
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
r
r
July p
LABOR FORCE, EMPLOYMENT, AND EARNINGS—Continued
HOURLY AND WEEKLY EARNINGS— Con.
Average hourly earnings per worker 1T— Con.
Not seasonally adjusted— Continued
Private nonagric. payrolls— Continued
Manufacturing— C ontlnued
Nondurable goods
-Excluding overtime
Food and kindred products
Tobacco manufactures
Textile mill products
Apparel and other textile prod
Paper and allied products
Printing and publishing
Chemicals and allied products
Petroleum and coal products
Rubber and plastics products,
Leath er and leath er prod ucts
3.47
3.33
3.60
3.43
2.73
2.61
3.94
4.48
4.20
4.95
3.60
2.71
3.69
3.53
3.83
3.77
2.94
2.78
4.19
4.68
4.47
5.22
3.80
2.81
3.66
3.51
3.82
3.91
2.90
2.75
4.16
4.68
4.46
5.24
3.75
2.80
3.70
3.55
3.82
3.97
2.89
2.74
4.23
4.70
4.49
5.26
3.82
2.79
3.70
3.54
3.83
3.73
2.92
2.79
4.24
4.70
4.50
5.24
3.81
2.80
3.75
3.58
3.85
3.68
3.02
2.84
4.26
4.76
4.53
5.29
3.86
2.84
3.76
3.60
3.89
3.73
3.03
2.85
4.27
4.75
4.54
5.26
3.86
2.85
3.78
3.62
3.91
3.81
3.06
2.86
4.30
4.76
4.58
5.29
3.90
2.87
3.80
3.64
3.97
3.87
3.07
2.83
4.31
4.79
4.60
5.27
3.91
2.87
3.83
3.68
4.00
3.92
3.06
2.85
4.33
4.79
4.64
5.40
3.92
2.90
3.83
3.69
4.02
3.89
3.06
2.86
4.31
4.82
4.64
5.42
3.93
2.92
3.85
3.70
4.05
4.01
3.07
2.87
4.33
4.85
4.65
5.42
3.93
2.94
3.87
3.74
4.08
4.14
3.05
2.89
4.37
4.85
4.70
5.55
3.87
2.95
3. 91
3.77
' 4 12
' 4 30
3.11
2.95
r
4 40
r
4. 91
4.72
'5.47
3.93
r
3. 01
do
do
do
do
do
3.02
3.88
2.70
3.20
4.12
2.87
3.19
4.10
2.86
3.20
4.12
2.86
3.21
4.13
2.87
3.26
4.19
2.92
3.27
4.18
2.93
3.29
4.22
2.94
3.28
4.27
2.94
3.35
4.29
2.99
3.36
4.31
2.99
3.38
4.33
3.01
3.38
4.37
3.01
3 44
4 41
r 3 08
do ..
do
3.65
4.38
3.89
4.70
do
3.81
do
do
do
3.02
_. dollars
do
.- .do
do
do
do
-- -do
...do
do
..do
nee .do
do .
Wholesale and retail trade _
Wholesale trade
Retail trade
Finance insurance and real estate©
Services©
Seasonally adjusted: t
Private nonagricultural payrolls
Mining
Manufacturing
Wholesale and retail trade
Finance insurance and real estate©
Services©
Indexes of avg. hourly earnings, seas, adj.: <D UJ
Private nonfarm economy:
Current dollars
1967=100
1967 dollarsA
do .
Mining .
_.
.
do ...
Contract construction©
do
Manufacturing
do Transportation comm elec gas©
do
Wholesale and retail trade
do
Finance insurance and real estate©
do
Services©
do
Hourly wages, not seasonally adjusted:
Construction wages, 20 cities (E NR):
Common labor
$ per hr_.
Skilled labor .
. do
,
DO
r., s i m
o
Avg. weekly earnings per worker, ^private nonfarm:J
Current dollars, seasonally adjusted
1967 dollars, seasonally adjusted A
Spendable earnings (worker with 3 dependents) :
Current dollars, seasonally adjusted
1967 dollars, seasonally adjusted A
Current dollars, not seasonally adjusted :J
Private nonfarm, total. ._
dollars. .
Mining
do
Contract construction©
do
Manufacturing
do
Durable goods
do
Nondurable goods
. . do
Transportation comm elec gas©
do
Wholesale and retail trade
. . . . do
Wholesale trade
do
Retail trade
do
Finance, insurance, and real estate© .. .do
Services©
...do
3 97
r 3 go
r 3 Qg
4 02
3.86
4 20
4 42
3.24
2.99
4 50
4 94
4.85
5.63
4.07
3.00
5 35
3 47
4 48
3 10
3 80
3 66
'4.18
'5.22
'6 76
'4.38
'5 30
'3.46
'3 81
'3.70
4.20
5.29
6 84
4.41
5 34
3.48
3 80
3.68
157.9
107.5
162.7
163 7
155.3
163.9
154.8
149 0
161 1
158.6
107.2
164.2
165 3
156.1
165.4
155.8
148 7
160 4
7.41
10.05
7.53
10.25
2.25
T
-
q oo
o.
o£i
' 4 16
4 34
'3.25
'2.98
r
4 46
r
4 93
'4.78
'5.56
'3.98
'3.00
r
r 5 28
'3 46
4 45
3 10
3.98
4.76
3.99
4.83
4.02
4.90
4.02
4.97
4.04
4.96
4.07
4.98
4.08
5.07
4.14
5.13
4.13
4.16
4.16
4.18
4.20
4.20
4.24
4.25
4.33
3.26
3.27
3.29
3.31
3.33
3.34
3.37
3.37
3.43
147.6
109.4
147.5
149.0
109.9
149.5
149.6
109.5
148.4
150.3
109.1
150.2
151.3
109.2
152.1
151.7
108.4
154.2
152.5
107.6
154.8
153.5
107.2
156.1
154.5
156.1
107.3 ' 107. 3
158.0 ' 159. 8
143.7
144.5
145.4
146.5
147.0
147.9
148.5
149.3
150.1
151.4
143.6
144.4
145.7
146.2
146.9
147.9
148.8
149.1
150.4
151.0 ' 153. 5
7.22
9.72
7.22
9.76
1.97
7.25
9.80
7.27
9.84
7.29
9.89
2 17
7.31
9.89
7.31
9.90
7.31
9.91
2 21
147.31
108.72
147. 26
107. 80
148. 03
107. 53
148.74
107 .39
147. 53
105.40
149.48
105.51
149. 78
104.60
149. 33
103. 69
152. 35 ' 153. 41 154. 98
104. 68 ' 104. 40 104. 68
127.11
94.19
128.86
95.10
128.82
94.30
129. 42
94.01
129.96
93.83
129. 03
92.18
130.53
92.13
130. 77
91.33
130. 42
90.56
132. 75 '133.57
91.21 ' 90. 90
134. 78
91.04
146.64
200.22
146.63
200.73
148.83
205.54
147.63
204.20
148.00
208.49
149.17
214.02
146. 33
211.08
147.86
213.07
148. 60
211.58
147. 74
216.33
165.24
179.31
145. 67
164.43
177.14
146. 89
164.43
176.28
147.26
169. 33
183.06
150.00
168.50
181.75
149. 27
169. 73
183.43
150. 82
173 .45
187.71
152.38
168.40
181.04
150.14
168. 82
181. 93
150.14
170.87
184. 05
151.31
166.18
178. 20
148. 61
111.04
162. 74
95.28
112.29
162.36
96.67
113.92
163.56
98.10
113.63
163.55
97.87
113.12
165.51
96.94
112. 16
164.27
96.10
112. 85
166.27
96.43
113.82
168.67
97.61
113.57
166.88
96.58
113. 90
166.80
96.88
114.92
168.00
97.52
115. 26
169.12
98.43
151. 52 '154.66
220. 67 '226.28
'252.50
174. 50 ' 176. 95
188.14 '191.12
'153.66 '156.82
'217.01
116. 96 '119.72
171. 55 ' 174. 00
' 100. 10 '102.92
'139.84
' 125. 86
156. 29
227. 42
257. 26
176. 44
188. 73
158. 79
220. 96
122. 14
176. 06
105.09
140. 22
101
122
123
131
126
120
123
120
114
111
108
111
116
4 4
3.3
4.2
2 2
1.1
48
3.9
4.6
27
.9
6.9
6.0
4.4
2.8
.6
6.1
4.1
5.1
2.8
1.4
6.2
5.0
6.5
4.5
.8
5.7
4.7
5.7
3.9
.7
6.2
4.3
4.9
3.0
.8
3.8
3.0
4.1
2.2
1.0
2.6
2.0
3.9
1.6
1.5
4.2
3.2
4.9
2.2
1.7
3.6
2.7
4.0
1.9
1.2
4.0
3.0
4.3
2.3
1.1
4.4
3.3
4.2
2.4
.9
?5.5
51
p 4. 4
39
z>4.2
4.4
' 2 6 P2. 5
p. 8
.8
4.5
3.6
4.7
2.9
.8
4.8
3.9
4.5
2.8
1.0
4.7
3.8
5.1
3.0
.9
4.7
3.7
4.4
2.4
.7
5.0
3.9
4.6
2.8
.8
4.8
3.8
4.6
2.8
.9
4.2
3.5
4.4
2.5
1.1
4.5
3.6
5.1
2.6
1.5
4.3
3.4
4.8
2.5
1.3
4.4
3.4
4.8
2.6
1.2
4.8
3.6
4.5
2.6
1.0
4.9
39
4.8
' 2.7
10
540
880
'520
••890
'350
'670
-•210
'480
310
480
350
560
480
710
550
840
740
1,060
3.92
4.73
3.96
4.78
4.07
4.09
3.21
3.23
146.0
110.4
146.2
146.9
110.9
147.9
143.3
142.7
143.2
142.9
6.642
9. 146
1 84
4 923
7.07
9.59
2 00
5.427
7.04
9.52
7.18
9.66
5.452
7.09
9.55
2.01
135. 78
108. 36
144.32
108.43
143. 58
108.57
145. 45
109.80
145.04
107.48
120. 79
96.40
126. 55
95.08
125.98
95.26
127. 42
96.19
135. 78
186. 15
144.32
199.28
144.74
200.34
154.69
167. 27
137. 76
165.65
179. 28
146. 12
106.00
154. 42
90.72
3.87
4.70
3.91
4.74
4.07
4.04
3.20
3.19
137.9
110.1
136.7
146.5
110.1
146.4
135.4
135.0
5.500
' 153. 3
7.31
9.91
HELP-WANTED ADVERTISING
Seasonally adjusted index t
1967 — 100
« 116
115
LABOR TURNOVER*
Manufacturing establishments:
Unadjusted for seasonal variation:
Accession rate, total
mo. rate per 100 employees
New hires
do
Separation rate, total
do
Quit
do
Layoff. _
do
Seasonally adjusted:
Accession rate, total do
New hires
do
Separation rate, total
do
Quit
do
Layoff
do
WORK STOPPAGES D
Industrial disputes:
Number of stoppages:
Beginning in month or year
In effect during month
Workers involved in stoppages:
Beginning in month or year
In effect during month
IVf Rn-dftv<! ifUp. Hnrincr TnnntVi nv TTOQ?r
number
do
5 010
' 5 360
r
530
'860
' 510
' 860
r
r
thous
do
1 714
r 2 240
r 310
r 400
' 210
'320
T
r\r\
97 ftfifi
r 97 GAG
T 9 am
r 9 QQfi
160
'310
r 9 *i71
Revised.
p Preliminary. « Estimate.
© See note © for p. S-15.
t See corresponding note, p. S-14.
If Production and nonsupervisory workers.
QThe indexes exclude effects of changes in the proportion of workers in high-wage and
low-wage industries, and the manufacturing index also excludes effects of fluctuations in
overtime premiums.
DSee corresponding note " D", bottom of p. S-15.
500
860
r
r
P4.2
?3. 1
J>4. 5
?2.5
p 1. 0
a
a 640
1, 050
a 474
102
163
211
391
132
134
237
638 s 0 790
331
244
1.142
r 9 Q>U r 9 484. r 3 09fi
1.30.5
1.973
3.542
6.267
7. 345
§ For line-haul roads only.
AEarnings in 1967 dollars reflect changes in purchasing
power since 1967 by dividing; by Consumer Price Index. Effective May 1974 SURVEY, data
reflect new seasonal factors (revisions available back to 1969).
t Re vised Mar. and July
1972 (1967=100), 93 and 104. ° Omits effects of two energy-related stoppages in the coal
mining and trucking industries.
' 270
370
r
' 190
'300
r
230
r
350
'90
r
180
r 9 13S
SUKVEY OF CURRENT BUSINESS
August 1974
Unless otherwise stated in footnotes below, data
through 1972 and descriptive notes are as shown
in the 1973 edition of BUSINESS STATISTICS
1972
1973
| 1973
Annual
S-17
June
July
Aug.
Sept.
1974
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
LABOR FORCE, EMPLOYMENT, AND EARNINGS—Continued
UNEMPLOYMENT INSURANCE
Unemployment insurance programs:
Insured unemployment, all programs, average
2,186
weekly §9- _.
thous..
State programs:
13, 580
Initial claims
do .
1,848
Insured unemployment, avg weekly, .do
Percent of covered employment: A
3.5
Unadjusted
Seasonally adjusted
1,467
Beneficiaries, average weekly
thous
Benefits paid §
mil. $. 4, 471. 0
Federal employees, insured unemployment,
average weekly
__
thous
Veterans' program (UCX):
Initial claims .
do
Insured unemployment, avg weekly do
Beneficiaries, average weekly....
__do_ ._
Benefits paid
mil. $
Railroad program:
Applications
_ _
._
thous..
Insured unemployment, Evg weekly do
Benefits paid
_
_
mil. $
"1,783
1,523
1,640
1,572
1,440
1,451
1,667
2,092
2,740
2,824
2,751
2,564
2,278 ^ 2 161
' 12,820
v 1, 632
865
1,384
1,231
1,505
954
1,436
747
1,299
978
1,299
1,159
1,503
1,619
1,922
2,114
2,561
1,436
2,630
1,215
2,502
1,170
2,217
1 084 P 1 064
1,934 P! 834
v 2. 7
2.4
2.7
1,210
287.1
2.5
2.7
1,202
296.3
2.4
2.6
1,229
316.3
2.1
2.6
1,102
248.3
2.1
2.6
1,070
280.7
2.4
2.7
1,138
289.4
3.1
2.8
1,363
335.9
4.1
3.1
2,062
570.8
4.2
3.3
2,230
553.3
4.0
3.4
2,266
593.9
3.5
33
2, 022
' 552. 7
3.0
"29
33
"33
1 732 v i 589
486.4 "387 4
28
39
42
42
44
47
47
47
43
40
36
33
"34
27
51
48
14.3
28
54
50
14.2
30
60
53
14.6
33
67
67
20.2
26
66
65
17.5
26
65
65
18.3
28
61
60
' 17.7
28
59
58
17 7
p29
?59
*>59
" 15 9
4
9
1.9
4
10
1.9
4
9
1.6
8
14
2.7
3
12
2.4
2
10
2.2
3
10
2.0
2
7
1.6
g
1.2
p 1, 371
P 4,007.6
36
"38
523
106
103
361.8
*360
p62
"60
" 209.4
28
56
54
14.3
32
59
55
16.3
31
59
59
17.4
26
53
52
13.5
105
20
51.5
93
12
30.6
7
9
1.7
13
9
1.5
7
9
1.8
6
10
1.6
r
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
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
Bank debits to demand deposit accounts, except
interbank and U.S. Government
accounts,
annual rates, seasonally adjusted1.
Total (233 SMSA's)O
bil $
New York SMSA
do
Total 232 SMSA's (except N.Y.)
do....
6 other leading SMSA's f
do
226 other SMSA's
do
Federal Reserve banks, condition, end of period:
Assets, total 9
.
mil $
6,898
34, 721
12, 172
22, 649
8,892
41, 073
13,062
28, Oil
7,237
35, 786
9,489
26, 297
7,693
35, 463
9,161
26, 302
7,734
37, 149
9,026
28, 123
8,170
37,641
10, 198
27,443
8,237
41,602
13, 046
28, 556
8,493
42, 945
14, 141
28,804
8,892
41,073
13,062
28, Oil
9,101
45, 491
15, 419
30, 072
9,364
47, 164
17, 346
29, 818
10, 166
44, 690
15, 028
29, 662
10, 692
44, 677
14, 991
29,686
11,727
46, 171
15, 438
30, 733
13, 174
44, 846
14, 884
29, 962
18, 293
21, 840
20, 641
20, 856
21, 206
21,346
21,454
21, 505
21, 840
22, 506
22, 919
23, 171
23, 641
24, 041
24, 606
9,107
2,298
6,889
11, 071
2,577
8,193
10, 118
2,725
7,798
10, 256
2,811
7,789
10, 441
2,865
7,899
10, 592
2,738
8,016
10, 781
2,711
7,961
10, 926
2,662
7,917
11,071
2,577
8,193
11, 245
3,123
8,138
11,402
3,211
8,306
11, 467
3,143
8,561
11, 878 12, 142 12, 400
2,891 ' 2, 694 2,733
9,205
8,872
9,473
16,638.8
7, 224. 6
9,414 3
4,050.2
5,364.1
17,224.5
7, 381. 4
9,843.1
4, 282. 4
5,560.8
17,888.9
7, 744. 6
10,144.3
4, 318. 2
5,826.0
17,918.7
8, 025. 3
9,893.3
4, 195. 7
5,697.6
18,394.4
8, 137. 2
10,257.2
4,418.0
5,839.1
19,049.5
8, 437. 9
10,611.6
4, 519. 8
6,091.7
18,641.3
8, 097. 7
10,543.6
4. 462. 8
6,080.8
18,815.7
8,081.0
10,734.8
4,517.1
6,217.6
19,813.6
8,896.2
10,917.4
4,582.1
6,335.3
20,166.8
8,914.4
11,252.5
4,718.0
'•6,534.5
97, 675
Reserve bank credit outstanding, total 9 ..do
Discounts and advances
do ...
U.S. Government securities _
do
77, 291
1. 981
69, 906
Gold certificate account
106, 464 100, 509 104, 439
84,680
1,258
78, 516
80. 355 83, 349
2,245
1,770
75, 022 77, 098
11,460
10, 303
101,577 101,944 107, 422
20,062.1
8, 637. 9
11,424.2
4,747.6
6,676.6
103,656 106,464 140,665 104,409 105,463 109,282
83, 217 84,680
1,258
1, 915
77, 129 78, 516
82,489
2,842
76, 093
81,123
1,558
76, 165
85, 454
2, 198
78, 491
10,303
10, 303
li, 460 11,460
83,422
961
78, 240
83,439
720
78, 237
11,460
'20,555.8 20,439.2
8, 970. 1 9, 065. 7
••11,588.7 11, 373. 5
r
4,820.8 4, 754. 6
'6,767.9 6, 618. 8
111,075 ' 110,906 "110,176
85,194
1,820
79, 483
86,360
1,747
80,007
90 254 ' 89,423
o 298 - 3, 210
87 395 80, 484
88, 03S
3, 588
78, 103
11,460
11, 460
11, 460
11,460
11, 460
105,656 106,464 140,665 104,409
105,463
109,282 111 )75 '110,906 "110,176
do
10, 303
do
97, 675
Deposits, total
Member-bank reserve balances
do
do
28, 667
25, 64?
31,486
27, 060
29,920
24,818
32S 461
28, 495
30, 822
28, 955
30, 919
28, 240
34, 886
31, 787
31 . 145
28, 108
31,486
2?; 060
32,134
28,241
31,227
27,989
32,250
29,838
32,822
28,795
35, 11 ' 34,151
31, 2 ' 30,086
32, 603
27, 282
Federal Reserve notes in circulation...
do
59, 914
65, 470
60, 847
61,362
61 , 640
61, 628
62, 120
63, 292
65, 470
63, 497
63, 662
64, 121
64,971
65,' 2
66S 475
67, 131
35, 068 32, 028 33, 524 33, 785 34,019 34, 912 34, 727
34, 806 31, 969 33, 202 33,538 33,782 34, 712 34, 523
*262
237
204
200
322
59
246
1
1,861
1,399
1,298
1,467
1,789
2,143
2,051
1
-1,069 -1,653 -1,605 -1,734 -1,477 -1,141 -1,111
35,068
34, 806
262
1,298
1,069
36.655
36,419
236
1,044
-790
35,242 34,966 35,929 36,5 1
35,053 34,790 35,771 36, 3i. '>
189
176
158
1,352
1,186
2, 580
1,714
-980 -1,144 -1,509 '-2,284
' 36,390 "37, 349
' 36,259 ^37, 167
' 131 p 182
'3,000 p 3,309
'-2,739 p— 2,978
99, 621 100, 178 112,531
99, 349
98, 204 ••101,440 r 102,020 ' 96,753
98,404 101, 649
Liabilities, total?--
All member banks of Federal Reserve System,
averages of daily figures:
Reserves held, total
mil $ 1i 31, 353
Required ..
do
31, 134
Excess
. _
do
i 219
1
Borrowings from Federal Reserve banks _ _ d o
1, 049
Free reserves
do
i -830
Large commercial banks reporting to Federal Reserve System, Wed. nearest end of yr. or mo.:
Deposits:
Demand, adjustedcfmil. $
10, 303
106, 464 100, 609 104,439
101,577 101, 944 J07 f 422
1
1
97, 578
11 f 460
11, 460
106, 219
112,531
Demand, total 9
.
Individuals, partnerships, and corp
State and local governments.
U.S. Government
Domestic commercial banks, _
do
do
do
do
do
169, 768
121, 308
7,221
6,469
22, 412
184, 565 149,944 157,604 143,546 156, 014 162,134 156, 083 184,565 158,015 155,789 163,148 r 166,949 ' 161,068 164, 141 161, 787
128, 207 107,453 111,539 105,787 110,371 112,876 112,459 128,207 109,056 109,235 113,210 ' 114,478 ' 112 819114,623 115, 110
7,352
6,273
7,352
6,409
6,317
6,173
6,238
6,064
6,014
7,167 ' 6, 042
7,159
6,901
6,836
5,697
5,512
1,831
7,164
5,690
7,164
3,714
3,480
2,138
3,241
7,347 ' 3, 591 5,501
5,646
3,010
1,816
25, 286 19, 362 22,748 19, 072 21, 246 24, 607 22, 406 25, 286 22, 815 22, 787 24,732 22, 445 ' 25,044 23, 426 23, 117
Time, total 9
..
Individuals, partnerships, and corp.:
Savings..
Other time.__
do
160, 661
189, 645 179,960 185, 434 190, 776 189,784 188,702 186,481 189,645 193,137 192,851
do
do
58, 572
72,334
Loans (adjusted), totald*
Commercial and industrial
For purchasing or carrying securities.
To nonbank financial institutions
Real estate loans
.
Other loans
„
do
do
do
do
do
do
226,042
91, 442
12, 535
20, 524
45, 992
72 , 063
In vestments, total
_ .
U.S. Government securities, total...
Notes and bonds
Other securities
do
do
do
do
57,087
95,405
97, 924 100,176
58,253
87, 228
57,348
92, 814
96, 466
56, 286
97, 902
56, 128
95,438
56, 278
94, 014
57, 087
95,405
56,802
98, 902
197,889 203, 690 ' 209,559 211, 533 216, 294
57, 144 58,485 ' 57, 830 57, 844 58, 115 57, 615
99, 038 102,519 ' 106,216 ' 111,056 112, 245 115,729
270, 659 250,603 256,120 256,833 259,755 259,297 260,217 270,659 264,503 267,013 278,044 'r 284,231 ' 283,945 292, 738 297, 083
110,778 104,812 107,433 106,789 108,299 106,829 107,632 110,778 109,442 110,475 ••118,495 121,345 ' 120,888 125, 544 126, 151
9, 219
8,202 r 8,426 ' 7, 935 7,679
9,301
9,182
9,508
8,129
9,185
9,439
9,640
9,439
9,700 12,128
28, 075 24, 897 26, 599 25, 872 26,312 25, 608 25,321 28, 075 26, 325 26, 272 ••28,175 r 29,741 ' 29,724 31,420 31,881
'
57,512
58,
908
58,
317
55, 181 50, 121 51,104 52,037 53, 179 53, 877 54, 548 55, 181 55, 627 55, 659 '56,147 r 56,797
89, 208 76,257 76,549 77,863 79, 243 80,315 80, 233 89, 208 83, 076 83, 661 r 86, 125 87,059 ' 85,400 88, 431 88, 323
86,982 79, 370 78, 256 78,450
85, 146
29, 133
25,460 23, 836 22, 299 22,098
22,552
19, 932 19, 797 19,345 18, 592
56. 013
61. 522 55. 534 55' 957 5fi. 352
r
Revised.
P Preliminary.
1 Average for Dec,
§ Insured unemployment (all programs) data include claims filed under extended duration provisions of regular State laws;
amounts paid under these programs are excluded from State benefits paid data.
AInsured
unemployment as % of average covered employment in a 12-month period.
9 Includes
data not shown separately.
cf For demand deposits, the term "adjusted" denotes demand
deposits other than domestic commercial bank and U.S. Government, less cash items in
555-443
O - 74 - S-3
56, 172
96,585
80, 235 82, 292 82, 850 86, 982 87, 086 86, 884 87,230 85, 017 ' 83,752 83, 626 83, 287
22, 960 ' 21,850 20, 872 20,915
22,523 23, 195 24, 257 25, 460 25, 691 25,357 -25,339
19, 202 19, 256 19, 823 19, 932 19, 832 20, 492 r 20, 174 20, 270 ' 19,730 19, 123 18, 868
57.712 59. 097 58. 593 61.522 61.395 61.527 '61.891 62. 057 ' 61.902 62, 754 62, 372
process of collection; for loans, exclusive of loans to and Federal funds transactions with
domestic commercial banks and after deduction of valuation reserves (individual loan items
are shown gross; i.e., before deduction of valuation reserves).
OTotal SMSA's include
some cities and counties not designated as SMSA's.
1f Includes Boston, Philadelphia,
Chicago, Detroit, San Francisco-Oakland,, and Los Angeles-Long Beach.
SURVEY OF CURRENT BUSINESS
S-18
1972
Unless otherwise stated in footnotes below, data
through 1972 and descriptive notes are as shown
in the 1973 edition of BUSINESS STATISTICS
1973
August 1974
1973
1974
i
June
Annual
July
Sept.
Aug.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
630.3
447.3
52.8
130.2
638 0
452.3
54.4
131 3
645 7
457.1
56.2
132 4
654 9
466.3
56.2
132 4
663 2
473.7
56.7
132.8
668 6
478.0
56.7
113 9
673.3
681 3
480. 8
57. 1
135.4
490. 4
55. 4
135 5
8. 00
FINANCE—Continued
i
BANKING- Continued
Commercial bank credit (last Wed. of mo., except
for June 30 and Dec. 31 call dates) , seas, adj . : f
Total loans and Investments©
bll $
LoansO
-- _-do_ ..
U S Government securities
do
Other securities
do
556.4
377.8
61.9
116.7
630.3
447.3
52.8
130.2
Money and interest rates: §
Bank rates on short-term business loans:
In 35 centers
percent per annum
New York City
do
7 other northeast centers
do
5.82
5.57
6.07
8.30
8.06
8.65
9.24
9.08
9.49
10.08
9.90
10.51
5.74
6.07
6.02
5.80
8.29
8.34
8.30
8.26
9.24
9.25
9.16
9.25
10.02
9.96
10.08
10.04
8 north central centers
7 southeast centers
do
do
4 west coast centers
do
Discount rate (N.Y.F.R. Bank), end of year or
month
._ - - percent -
602.0
420.3
61.6
120.1
608.8
427.5
59.8
121.5
617.4
435.9
57.9
123.6
"
620.2
439.1
56.4
124. 7
624 2
441.1
55.1
128.0
628.4
445.5
55.0
127.9
9.91
9 68
10 28
9
9
9
9
11 15
11 08
11 65
98
80
93
78
11
10
10
11
09
88
82
19
4.50
7.50
6.50
7.00
7.50
7.50
7.50
7.50
7.50
7.50
7.50
7.50
8.00
8.00
8. 00
i 6. 00
i 7. 16
7.08
7.21
7. 38
7.42
8.05
8.18
8.34
8.42
8.52
8.58
8.58
8.68
8.68
Home mortgage rates (conventional 1st mortgages):
New home purchase (U.S. avg.)
percent-Existing home purchase (U.S avg.)
do
17.45
1
7.38
i 3 7. 95
i 3 8. 01
7.79
7.79
7.87
7.84
7.94
8.01
8.17
8.26
8.31
8.50
8.39
8.58
8.49
8.61
8.52
8.64
8.62
8.70
8.64
8.63
8.67
8 60
8.74
8 67
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 nio.do
Stock Exchange call loans, going rate
do
24.47
24.69
24.52
25.16
28.08
28.15
27.40
2
8.25
7.98
7.99
7.45
7.83
9.19
9.18
8.09
8.41
10.18
10.21
8.90
9.41
10. 19
10.23
8.90
10.04
9.07
8.92
7.84
10.02
8.73
8.94
7.94
10.00
8.94
9.08
8.16
10.00
8.72
8.66
7.92
9.95
7.83
7.83
7.40
9.39
8.43
8.42
7.76
9.08
9 61
9.79
8.43
10.23
10 68
10 62
8.94 i
11.48
10. 79
10.96 1
9. 00
11.78
11. 88
11.72
9. 00
12.22
2 4. 071
25.85
2 7. 041
26.92
7.188
6.76
8.015
7.49
8.672
7.75
8.478
7. 165
6.81
7.866 i
6.96
7. 364
6.80
7.755
6.94
7.060
6.77
7.986
7.33
8.229
7 99
8.430
8 24
8. 145
8. 14
7. 752
8. 39
mil $
157, 564
180 846 167, 083 169, 148 171,978 173, 035 174,840 176, 969 1180,486 178 686 177 522 177 572 179 495 1181 680 183 495 '
do
127,332
147, 437 136, 018 138, 212 140, 810 142, 093 143,610 145,400 147, 437 146, 575 i 145, 927 145, 768 147 047 148 852 150 615
Automobile paper. _ .
....
Other consumer goods paper
Repair and modernization loans
Personal loans _ _
_
do. ..
do
do
___do. .
44, 129
40, 080
6,201
36, 922
By type of holder:
Financial institutions, total
Commercial banks
Finance companies
_
Federal intermediate credit bank loans
do
Yield on U.S. Government securities (taxable):
3-month bills (rate on new issue)
percent..
3-5 year issues _ . _ .. _ .
do._
7.16
r
8.85 ! v 8.97
8. 84
P 9. 00
CONSUMER CREDIT
(Short- and Intermediate-term)
Total outstanding end of year or month
Installment credit, total
..
Credit unions
Miscellaneous lenders
Retail outlets, total
Automobile dealers
_
Noninstallment credit, total
Single-payment loans, total
Commercial banks
.
Other financial institutions
Charge accounts, total
Retail outlets.
Credit cards
.._
Service credit
.
15, 950
261
18 132
299
15, 568
289
do
do
do
do
i 30, 232
! 12, 256
i
10, 857
1, 399
33 049
13 241
11,753
1 488
31,065
12, 990
11,520
1,470
do
do
do
do
!
!
9, 002
7, 055
1,947
8,974
9,829
7,783
2,046
9,979
8,555
6,544
2,011
9,520
do
do..
50, 232
43, 505
7,009
40, 064
51,092
44, 632
7.235
40,651
51,371
45, 592
7,321
41, 116
51,130
47, 530
7,352
41,425
50,617
47, 303
7 303
41,352
50, 386
46, 781
7 343
41,417
50,310
46 536
7 430
41, 492
50
47
7
41
606 51 076 51,641
017 47 588 48 099
7 930 !
573 1 7 786
851 j 42*402 i 42,945 1
!
19, 207 i; 19,339
2,922
2, 976
19,517
2,988
19, 609
2, 958
19 429
2 872
19, 430
2, 983
19 5509
3 Ol
19 704
3 049
20 053
3* 150
•?0 501 !
3 1°9 • - - -
15,987
296
i
!
31,168
30, 936
•
12, 968 13,111
11,491 i 11,655
1,477 ! 1,456 :
16, 053
16,303
300
16, 847
302
18, 132
299
17, 705
296
17, 120
293
16 969
999
17 059
9
93
17 177
294 i
17, 'ni
31, 569 33, 049
13, 161 ! 13,241
11,669 i 11,753
1,492 ! 1,488
32,111
13,117
11,652
1, 465
31,595
13, 159
11,663
1,496
31
13
11
1
804
188
686
50°
3° 448
13 315
11 806
1 509
32 828
13 331
11 806
1 595
39 810
13 311
1 1 , 802 1 soy
8,605 i
6,475 I
8, 335
6, 229
2,106
9, 519
9,829
7, 783
2, 046
9, 979
8,875
6,894
1,981
10, 119
8,018
6,136
1,882
10,418
7, 939
6,097
1, 842
10, 677
8 434
6 556
1 878
10 699
8,947
6,948
18,961
2,847
15, 733
293
8,479
6,424
2,055
9,489
2,130
9,452 !
i
297 !
30,942 i 31,230
13,088 ! 13,145
11,608 11,651
1,491
1,480
8,590 ! 8, 785
6, 554 j 6, 761
2,036
2,024
9, 495
9,623
1,999 '
10,550
296
0,106
7,002
2,104
10.303 i
I
do
do
do
do
..
_
142
40,
55
47,
951
194
599
111
165 083
46,453
66 859
51 771
14
4
5
4
608
313
678
617
14 812
4 177
5 753
144
39
59
46
12
3
4
3
121
282
921
918
do
do
do
do
do
do
do
do
126, 914
34 729
49' 872
42, 313
978
452
409
117
15.099
12 624
4, 252
3,476
14, 454
4, 196
5, 894
4,364
14 098 14,117
3,693 : 2, 872
6, 826
5 980
4, 419
4,425
12
2
5
3
375
934
471
970
11 °27
2 945
4 525
3' 757
13 246
3*546
5 479
4 221
14 856
3 944
6* 141
4 771
15 605
12,937
3 661
5,281
3, 995
12, 308 12,080
3 414 ' 3 113
4.888
5, 020
4, 079
3,874
13 °37
3 447
5 698
4 092
11 875
3* 176
5 047
3 652
13 405
3 6"
5 724
4*059
4,215
14, 149
3,912
5,911
4,326
14, 275 12,677
3,819
3,315
5, 978 i 5, 254
4,478
4,108
13 714
3 492
5, 662
4 560
13 541
3*389
5,647
4 505
13
3
5
4
12,332
3,406
5,072
3,854
12, 449
3,427
5, 149
3,873
12,549
3,471
5, 154
3, 924
12, 797
3 433
5 , 193
4, 171
12, 870
3 394
5 340
4,136
6,065
4,782
5 217
3,931
12 618
3 374
5' 031
4 213
12,501
11,341
3 372
5*. 135
3 151
4,' 703
3,994
3,487
13 646
3 762
5 505
4 379
14 542
3 930
5,943
4 639
14,294
3,968
5,961
13,691
3,939
5,537
4,365
12 034
3 253
4 955
3.826
12,544
3 334
5 141
4.069
12,399
3,293
5,168
3,938
Revised.
» Preliminary.
1
Average for year.
2 Daily average.
3 Beginning Jan. 1973, data reflect changes in
sample and weighting.
G Adjusted to exclude interbank loans.
50, 557
44, 019
7,120
40, 397
129, 305 120, 450 122,479 124, 823 126, 040 127,307 128, 553 129, 305 128, 870 128, 807 128,799 129 988 131 675 !l33,404
69 495 64, 999 66, 065 67, 381 67, 918 i 68,627 69, 161 69, 495 69 429 69, 246 69 232 69 944 70 791 71 615
37 243 34, 367 35, 020 35,634 35, 993 36, 365 36, 887 37,243 37 140 i 37,148 37 005 37 291 37 751 : 38 150
19,609
9 95§
do
do
Repaid, total .
Automobile paper
Other consumer goods paper
All other _ .
r
49, 352
42, 575
6.845
39, 440
18,517
2,877
do
do
do
do
Repaid, total
Automobile paper _ _
Other consumer goods paper
All other
48, 549
41,853
6,688
38, 928
18,269
2,815
16,913
2,598
Installment credit extended and repaid:
Unadjusted:
Extended total
Automobile paper
Other consumer goods paper
All other
..
Seasonally adjusted:
Extended, total
Automobile paper . . .
Other consumer goods paper
All other
111,382
59, 783
32, 088
do .
do
do
51,130
47, 530
7 352
41,425
1
12, 267
3,338
5, 001
3, 928
4,200
14 641 !
4,027 ;
6 319
5 888
5,086
4,726
13 577
3 648
5 660
4' 959
13,800
12,878
823
484
933
406
14 179
3* 545
6 034
4 600
14, 669
13 206
3 544
5* 5%
4.066
13 026
3 498
5 483
4! 045
13, 407
3 601
5 607
4.199
3 730
5 748
4,322
---
3 46°
5' 377
4 030 i
14,387
3,769
3,731 !
6,156
4 744
4 613 !
6,043
13,301
3 577
5 615
4.100 '
§ For bond yields, see p. S-21.
jBeginmng Jan. 1959, monthly data have been revised to
reflect new seasonal factors and adjustment to benchmarks for the latest call date (June 30,
1973). Revisions are in the Nov. 1973 Federal Reserve Bulletin.
SURVEY OF CURRENT BUSINESS
August 1974
Unless otherwise stated in footnotes below, data
through 1972 and descriptive notes are as shown
in the 1973 edition of BUSINESS STATISTICS
1973
1973
1972
June
Annual
S-19
July
Sept.
1974
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
20, 209
22, 099
21,987
19, 686
23,476
23, 671
20, 226
21,030
16,818
22, 905
29, 657
22, 273
19, 243
23, 981
2,302
4,271 -5, 455 -1,891
-847
1,891 -2,302
5,455
847 -4,271
2,202
564
1,395
3,128
-563
-311 -5, 430
1,410 -4, 835
4,060
-195
195
-773
968
Aug.
Oct.
June
July
FINANCE—Continued
FEDERAL GOVERNMENT FINANCE
Budget receipts and outlays:
Receipts (net)
Outlays (net)
mil $
do
Budget financing total
Borrowing from the public
Reduction in cash balances
do
do
do
i-23,227
i 23, 227
i 19, 442
i 3, 785
do
1 437, 329 i 468,426
1 323, 770 i 343,045
68, 426 469, 296 472, 438 472, 073 473,139 474, 973 480, 660
43, 045 342, 332 341, 769 342, 333 343, 727 345, 930 349, 058
i 208, 649 i 232,225
i 94, 737 1103,246
i 32, 166 i 36, 153
28, 537
12, 306
8,796
18,121
8, 814
1,350
21,291
9,279
695
25, 007
11,707
5,247
17, 637
9,230
1,053
20, 209
10, 106
652
21,987
9,134
6,096
23,476
14,327
1,562
20, 226
8,601
819
16, 818
3,219
5,549
29, 657
14, 764
5,463
19, 243
5, 641
1,100
i 64,542
28, 286
5,081
2,354
5,336
2,621
8,778
2,539
5,409
2,644
4,712
2,641
6,724
2,827
4,149
2,608
5, 232
2,356
8,400
2,406
5,721
2,330
6,896
2,534
10, 036
2,466
1231,876 i 246,526
i 10, 943 i 10,028
i 75, 150 i 73, 297
20, 814
273
7,473
22, 607
2,326
5,033
22, 139
847
6,662
20, 736
249
6,032
23, 092
799
6,523
22, 099
1,161
6,647
19, 686
137
6,123
23,671
1,209
6,690
21, 030
547
6,285
22, 905
682
6,662
22 273
534
6,703
23, 981
792
7, 170
mil. $._ i 71, 779 i 82, 042
i 22, 124 i 30,982
3,422
13,311
i 10,710 i 11,968
7,815
2,124
301
862
6,902
3,863
278
1,097
7,203
2,284
262
1,050
7,396
2,652
246
968
7,415
3,763
249
1,056
7,463
2, 566
246
1,191
7,383
2, 371
221
1,141
7,996
4,061
251
1,202
7,862
2,522
231
1,086
8,164
2,640
252
1,191
8,416
4,171
293
1,163
8,665
2,663
278
1,177
227.2
258.5
255.0
261.8
268.3
279.4
P 291. 6
108.2
36.6
20.0
62.5
114.1
43.7
21.2
79.5
110.3
44.7
21.4
78.6
116.7
43.8
21.0
80.2
121.6
43.5
21.3
81.8
124 1
47 2
21 5
86.7
p 129. 4
P 52, 2
P21.9
P88.1
244.7
264.2
262.4
263.4
270 6
281 0
' 291. 6
106.2
74.0
105.3
73.3
108.4
75.3
111.5
75 g
'114.3
'76.6
"113.6
'43.2
'18.7
Held by the public
Budget receipts by source and outlays by agency:
Receipts (net) total
mil $
Corporation income taxes (net)
Social insurance taxes and
do
contributions
(net)
mil $
Other
do
Outlays, total 9
do
Defense Department, military
do
Health, Education, and Welfare Department
Treasury Department
National Aeronautics and Space Adm
Veterans Administration
do
do
do
Receipts and expenditures (national income and
product accounts basis), qtrly. totals seas. ad],
at annual rates:
erfaoi a, tax aim nontax iece pit>
uo
Indirect business tax and nontax accruals-do
Contributions for social insurance
do
Federal Government expenditures, total
do
1208, 649 i 232,225
1 231, 876 i 246,526
i 53, 914
i 27, 832
28, 537
20, 814
18,121
22, 607
i -14,301 7,723 -4,486
4,486
i 14,301 -7,723
-713
i 19, 275 -2,369
5,199
i -4, 974 -5,354
1
21, 291
22, 139
25, 007
20, 736
17, 637
23,092
-804 -6,086
7,384 -4, 739
804
4,739
6,086 -7, 384
8
-162
4,309 -2, 502
966
4, 731
1,777 -4, 882
78,957 481, 443 485, 649 483, 090 485, 834
48, 285 348, 123 352, 432 249, 931 349, 939
Purchases of goods and services
do
104.9
74.8
106.6
74.4
Transfer payments
do
82.8
37.4
13.5
95.5
40.5
16.3
94.7
40.1
15.9
96.5
39 8
16.8
98.8
41 0
17.6
106.5
42 9
17.9
6.6
5.3
4.8
2 2
'1.3
.0
5.4
i
5.0
.5
.0
0
0
p- 6
17 5
—5.6
7 4
17
2 3
15
.0
252. 07
11.38
117. 73
81.18
75.19
Net interest psid
do
Subsidies less current surplus of government
enterprises
bil $
LIFE INSURANCE
Institute of Life Insurance:
Assets, total, all U.S. life Insurance cos
Government securities
Corporate securities
Mortgage loans, total
N on farm
bil. $..
do
do
do
do
239.73
11.37
112.98
76.95
71.27
Real estate
Policy loans and premium notes
Cash
Other assets
do
do. _.
do
do
7.30
18.00
1.98
11.15
Life Insurance Agency Management Association:
Insurance written (new paid-for insurance) :
Value, estimated total
mil $
Ordinary (incl. mass-marketed ord.)
do
Group
do
Industrial
do
247.66
11.42
117.84
78.66
72.84
250.20
11.40
119.20
79.04
73.18
251. 59
11.40
119.71
79.52
73.62
251.06
11.46
118.02
80.19
74.26
252.07
11.38
117. 73
81.18
75.19
253. 53
11.46
119. 08
81.49
75.53
254. 74
11.54
119.72
81.74
75.79
255. 85
11.77
119. 94
81.97
75.99
256. 58
11.59
120. 47
82.47
76.44
257. 52
11.61
120. 64
82.75
76.68
258. 40
11.62
120. 53
83.23
77.12
7.58
18.84
1.80
11.13
7.63
19.18
1.73
11.20
7.68
19.51
1.81
11.56
7.76
19.77
1.83
11.59
7.84
19.93
1.81
11.81
7.77
20.08
2.25
11.69
7.82
20.24
1.90
11.54
7.82
20.38
1.82
11.72
7.83
20.54
1.81
12.00
7.78
20.83
1.50
11.93
r 7.84
21.07
1.53
12.08
7.88
21.32
1.51
12.32
244. 50 247. 08
'11.32
11.43
116.17 118. 06
' 77. 98 78.24
' 72. 24 72.47
7.77
'7.53
20.08 ' 18.71
2.25
'1.50
11.69 ' 11.28
208,730
145, 479
55, 857
7,394
232,016
162, 119
63, 000
6,897
19,609
13,715
5,313
581
18,829
13, 003
5,283
543
19,058
13,418
5,061
579
17,250
12, 407
4,261
582
20,326
14, 614
5,165
547
20,293
14, 177
5,578
538
26,822
15, 114
11, 100
608
17, 799
12, 623
4,650
526
18, 679
13, 447
4,638
594
22, 245
15, 520
6,093
632
20,840
16, 033
4,217
590
21, 824
16, 120
5,057
647
21,207
15, 206
5,461
540
Gold and silver:
Gold:
Monetary stock, U.S. (end of period).. .mil. S.- 10, 410
-1,715
Net release from earmarks
do
Exports
thous. $_. 63, 053
Imports.. .
... __
do _ 357, 689
11,567
-1,538
145,965
356, 150
10, 410
25
21,503
34, 990
10,410
22
24, 958
27,134
10, 410
9
4,012
17, 061
10,410 11,567
18 -1, 685
4,973 23, 586
36, 162 33, 770
11,567
18
15, 970
30,411
11,567
36
37, 234
23, 236
11,567
24
20, 223
19, 767
11,567
5
9,191
58, 959
11,567
2
7,185
41,412
11, 567
11
19, 331
23, 264
11, 567
5
6,793
32, 381
11,567
7
7,467
33, 978
MONETARY STATISTICS
Production:^
South Africa
Canada
Silver:
Exports
Imports
Price at New York
Production:
United States
mil $
do
1, 109. 8
77.2
1,073.6
75.0
87.6
6.4
88.3
5.6
90.2
5.7
88.2
5.7
97.5
7.0
97.2
6.3
88.8
6.7
91.2
6.1
88.8
6.1
84.3
6.3
93.3
85.3
thous $
do
dol. per fine oz
31, 592
59, 357
1.685
27,637
268, 639
2.558
876
15,231
2.621
5,627
32, 988
2.706
4,563
27,569
2.636
3,277
30, 764
2.675
1,871
22, 200
2.886
1,593
66, 379
2.860
1,093
32, 156
3.137
1,114
13, 527
3.637
2,424
20, 459
5.359
10, 422
67, 433
5.326
2,886
58, 521
5.036
13, 165
39, 103
5.432
14, 403
47, 343
4.896
2,089
3,385
3,803
4,345
3,125
3,370
4,936
4,967
5,874
4, 459
thous. fine oz_.
39, 727
r
Revised.
* Preliminary.
i Data shown in 1972 and 1973 ann ual colu mns are for
fiscal years ending June 30 of the respective years ; they incliide revisio ns not di stributecI t o
3,003
mon hs.
gold (-).
4.415
i Or incn?ase in ea rmarked
9 Includes data foi* items i lot show n separa tely.
11 Valued at $38 p er fine o unce froin Jan. 1.)72-Sept. 1973, at $42.22 th ereafter
SURVEY OF CUKKENT BUSINESS
S-20
Unless otherwise stated in footnotes below, data
through 1972 and descriptive notes are as shown
in the 1973 edition of BUSINESS STATISTICS
1972
1973
1973
June
Annual
August 1974
July
Aug.
Sept.
1974
Oct.
Dec.
Nov.
Jan.
Feb.
Mar.
Apr.
May
June
July
FINANCE—Continued
MONETARY STATISTICS— Continued
Currency in circulation (end of period)
bil $
Money supply and related data (avg. of daily flg.) :©
Unadjusted for seasonal variation:
Total money supply
bil. $
Currency outside banks
. .do
Demand deposits
do
Time deposits adjusted^
do
U.S. Government demand deposits^
do
Adjusted for seasonal variation:
Total money supply
Currency outside banks
Demand deposits
Time deposits adjusted^
66.5
72.5
67.8
68.2
68.4
68.2
69.0
70 3
72.5
69.9
70.5
71.2
72.2
73.2
73.8
248.9
54.6
190.9
293.4
263.8
59.3
204.4
345.3
263.6
59.4
204.1
344.7
265.7
60.0
205.7
347.8
263.0
60.0
202.0
356.7
264.0
60.1
203.8
359.3
266.1
60.4
205.7
360.3
270.9
61.5
209.5
359.0
279.1
62.7
216.4
362.2
278.1
61.6
216.5
369.4
273.5
62.7
210.8
379.2
4.3
6.0
7.5
p 278. 9
64.9
214.0
397.9
6.3
279.6
63.6
216.1
387.3
274.5
64.2
210.2
394.2
8.0
270.8
61.9
209.0
374.4
7.2
7.1
do
do
do
do
Turnover of demand deposits except interbank and
U.S. Govt., annual rates, seas, adjusted:
Total (233 SMSA's) O ratio of debits to deposits
New York SMS A
do
Total 232 SMSA's (except N Y )
do
6 other leading SMSA'scf
do
226 other SMSA's
do
7.1
6.5
265.5
59.4
206.2
345.9
266.4
59.5
206.9
349.6
266.3
59.8
206.4
355.1
265.5
60.2
205.3
358.0
266.6
60.5
206.1
359.1
269.2
61.0
208.2
360.1
271.4
61.7
209.7
363.5
99.9
245.0
68.7
107.6
54.0
102.6
247.5
71.3
111.7
55.8
106.2
252.5
73.6
113.6
58.4
107 4
266.4
72.4
111.6
57 5
109 5
265.3
74 7
116.4
58 8
113 2
274.9
77 1
118 6
61 2
110.2
269.8
75.8
115.0
60.6
4.1
5.3
6.0
6.2
6.6
6.3
270.8
61.9
208.9
370.1
273.7
62.7
211.1
374.8
276.2
63.4
212.9
377.7
278.1
64.0
214.1
387.4
279.2
64.5
214.8
394.7
111.5
270.3
77.3
116.2
62.2
118.0
294.2
79.3
119.9
63.7
118.2
292.5
80.3
120.8
64.7
115 4
274.6
80.2
119.7
65.0
••117.0
275.3
••81.0
65.3
116.8
279.9
79.7
119.8
64.3
T
1, 942
•• 3, 804
r 122. 3
•• 281. 0
64.8
216.1
r 400.0
280.5
65.5
215.0
401.9
5.3
281.2
65.0
216.3
404.2
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
36 467
3,021
669
941
fr 1, 427
5, 670
f
r2
996
199
897
256
443
370
574
402
13, 492
13 144
rf 1, 064
' 2 186
11 612
12 972
903
239
1,473
1 441
r2
»- 2 364
1, 419
1,722
1 671
1 967
r 2 3 2 715
3,391
452
1 022
7, 759
' 1, 266
'1,343
r
1, 695
1 569
' 2, 207
608
564
3,481
2 999
' 4, 936
' 3, 883
1,340
1,200
974
*• 21 064
'933
4, 122
7, 054
288
1,461
1,811
191
467
r2
23l
r2
289
479
1 693
r 2 2 181
2,063
17, 734
4 268
4 125
*• 25 219
4,501
6 151
1 060
Machinery (except electrical)
do
Elec machinery eouip and supplies
do
Transportation equipment (except motor
vehicles, etc.)
mil $
Motor vehicles and equipment
do
All other manufacturing industries
do
780
do
48, 234
' 3, 723
r
831
1 012
4 499
Petroleum and coal products
do
Stone clay and glass products
do
Primary nonferrous metal
do
Primary iron and steel
do
Fabricated metal products (except ordnance,
machinery and transport eouip )
mil $
Dividends paid (cash) all industries
r
687
r
r
3 639
5 944
16 110
T
r2
315
r2
438
r2
407
290
411
376
363
458
994
165
537
514
490
r2
573
570
1,271
' *1, 305
894
801
SECURITIES ISSUED
Securities and Exchange Commission:
Estimated gross proceeds total
By type of security:
Bonds and notes total
Corporate
Common stock
Preferred stock
By type of issuer:
Corporate total 9
Manufacturing
Extractive (mining)
Public utility
Transportation
Communication
Financial and real estate
Noncorporate, total 9
U.S. Government
State and municipal
State and municipal issues (Bond Buyer) :
Long-term..
Short-term
_.
mil $
95 408
100 592
7 943
7 643
8 036
8 091
8 924
12 553
6 635
3 392
3,686
3 294
do
do
do
do
82 337
26^ 291
9 912
3 372
89, 435
21, 669
7,780
3,377
7, 122
2,757
6,882
1,870
11 247
2 257
668
637
573
196
284
152
3,122
685
355
5 866
2 469
330
96
430
119
7 883
2 358
2,686
536
226
7 542
1*366
3,392
606
216
7 gio
1 396
mil $
do
do
do
39 574
6 593
1 932
11 316
32 823
4,875
1,073
10 270
3 578
2 631
1 822
1 915
3 398
3 563
3 238
1 596
533
102
920
3 392
728
50
do
do
do
1 230
4 832
10 055
1 541
4 906
8 436
183
332
517
250
303
374
86
325
357
142
243
350
do
do
do
54 610
17 080
23 070
67 184
19 057
22 760
4,365
6,012
2,046
1,992
6 214
3 097
1,474
do
do
22 941
25 222
22 953
24, 667
2,031
2,517
1,992
1,923
i 9 045
i g igo
i 865
1
1 528
i 6 382
i 5 251
1
1 131
7,369
6 416
7,299
6 243
1,056
1
414
1.957
*454
i 1. 700
1.472
559
490
275
141
513
522
57
949
476
34
896
139
318
268
2,686
387
181
829
361
395
3 122
569
55
1 080
504
157
888
1,441
114
678
926
245
796
814
232
377
807
c 523
127
146
6
397
871
76
331
593
6 176
2 432
1,630
5,525
8,990
4,521
2,224
3,397
2,232
1,474
1,740
1,630
2,750
2,232
2,501
2,224
1,785
2,183
2, 507
2 288
1,860
1,970
2,117
2,091
1,786
2,322
2,155
2,177
2,797
7 081
6 056
1,025
6 954
5 949
1,005
7,093
5 912
1,181
6 774
5 671
1,003
6 382
5 251
1,131
6 343
5 323
1,020
6 462
5,423
1,039
6 527
5,519
1,008
5,558
5,368
' 415
1,438
1,420
348
59
585
485
1,447
148
1,966
1,347
1,902
SECURITY MARKETS
Stock Market Customer Financing
Margin credit at brokers and banks, end of month,
total
mil $
At brokers
do
At banks
do
Other security credit at banks
do
Free credit balances at brokers:
Margin accounts
do
Cash accounts
. do.._
1
953
396
379
1.542
T
2
Revised.
» Preliminary.
i End of year.
Beginning fourth quarter 1973, because of changes in method of consolidation (to minimize the effect of foreign operations of
multinational enterprises), data are not comparable with those for earlier periods. The effect
of the change can be assessed by comparing the data as originally published
for the fourth
3
quarter 1973 (June 1974 Survey) with the revised data shown here.
Prior to fourth quarter
1973, for petroleum refining only; data are not comparable with those for earlier periods.
©Effective February 1974 "SURVEY, data revised to reflect: Annual review of seasonal
factors; regular benchmark adjustment; effect of changes in check collection procedures
348
1,462
379
419
464
454
442
420
1,623
1.713
1, 685
1,700
1,666
1,604
424
1,583
395
(Regulation J); and adjustments to include new figures from internationally oriented banking institutions. Monthly revisions back to 1971 are in the Feb. 1974 Federal Reserve Bulletin.
1fAt all commercial banks.
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. c Corrected.
SURVEY OF CURRENT BUSINESS
August 1974
Unless otherwise stated in footnotes below, data
through 1972 and descriptive notes are as shown
in the 1973 edition of BUSINESS STATISTICS
1972
S-21
1973
1973
June
Annual
July
Aug.
Sept.
1974
Oct.
Nov.
Dec.
Jan.
Mar.
Feb.
Apr.
May
June
July
FINANCE—Continued
SECURITY MARKETS— Continued
Bonds
Prices:
Standard & Poor's Corporation:
High grade corporate:
Composited"
dol. per $100 bond-Domestic municipal (15 bonds)
do
65.9
84.4
63.6
85.4
64.4
85.8
63.8
83.2
61.0
82.2
61.2
86.2
62.1
86.9
62.1
85.6
62.9
86.1
62.3
85.2
62.0
85.3
61.3
83.5
60.0
80.2
59.7
77.3
59.5
73.2
58.5
71.9
68.71
62.80
62.61
60.87
58.71
61.81
63.13
62.71
62.37
60.66
60.83
58.70
57.01
56.81
57.11
55.97
9, 515. 67 8, 297. 99
10,077.35 9, 420. 76
615. 35
725. 34
604.89
701. 33
766. 20
852.43
622. 73 741. 95
699.17 823. 72
628. 28
708. 70
529. 31
686.43
594. 86
673. 60
509. 02
602. 90
610. 31
727. 18
554 59
662. 32
8, 717. 24 7, 865. 38
9, 168. 52 8,736.82
585. 14
679. 35
579. 43
663. 75
744. 67
807.02
597. 88
632. 78
691. 10
759. 22
597. 92
672. 62
497. 33
621. 38
567. 26
635. 50
468. 34
561. 97
580. 93
688. 09
532. 65
632. 56
New York Stock Exchange, exclusive of some
stopped sales, face value, total. _mil. $ 5,444.12 4,424.67
335. 55
354.44
351. 15
355. 69
399. 52
344. 40
349. 19
366. 42
287. 93
301. 99
313. 10
336. 83
296. 22
350. 49
U.S. Treasury bonds, taxable^ _ _ _
do
Sales:
Total, excl. U.S. Government bonds (SEC):
All registered exchanges:
Market value
mil $
Face value
do
New York Stock Exchange:
Market value
Face value..
.
Yields:
Domestic corporate (Moody's)
By rating:
Aaa
Aa
A..
Baa
do
do
percent.
7.63
7.79
7.69
7.80
8.04
8.06
7.96
8.02
8.05
8.15
8.17
8.27
8.51
8.68
8.85
9.10
_do
do
do
do
7.21
7.48
7.66
8 15
7.44
7.05
7 8^
8 24
7.37
7.55
7.71
8.13
7.45
7.64
7.86
8.24
7.68
7.84
8.11
8.53
7.63
7.86
8.11
8.63
7.60
7.84
7.98
8.41
7.67
7.90
8.07
8.42
7.68
7.92
8.11
8.48
7.83
7.97
8.22
8.58
7.85
7.97
8.26
8 59
8.01
8.08
8.34
8 65
8
8
8
8
25
28
61
88
8.37
8 42
8.85
9 10
8.47
8 55
9 05
9 34
8.72
8.76
9.35
9 55
do
do
do
7.35
7.74
7.98
7.60
7.83
8.12
7.49
7.69
8.07
7.59
7.81
8.17
7.91
8.06
8.32
7.89
8.09
8.37
7.76
8.04
8.24
7.81
8.11
8.28
7.84
8.17
8.28
7.97
8.27
8.34
8.01
8.33
8.27
8.12
8.44
8.34
8 39
8 68
8 51
8.55
8 86
8.73
8.69
9 08
8.89
8.95
9.35
9.08
Domestic municipal:
Bond Buyer (20 bonds).
..
Standard & Poor's Corp. (15 bonds)
do
do
6.25
5.27
5,22
5.18
5.25
5.15
5.59
5.39
5.34
5.47
5.00
5.11
5.17
5.05
5.15
5.17
5.18
5.12
5.20
5.20
5.26
5.19
5.57
5.36
5 91
6.08
5.96
6.33
6.08
6.70
6.54
U.S. Treasury bonds, taxable©
do
6.63
6.30
6.32
6.53
6.81
6.42
6.26
6.31
6.35
6.56
6.54
6.81
7.04
7.07
7.03
7.18
8.92
9.58
in A.R
5 01
9.41
10 19
5 00
3 97
7 54
12.89
9.63
10 45
5 01
3 97
7 54
13.20
9.59
10 53
5 02
4 06
7 54
13.23
9.62
10 58
5 03
4.06
7 54
11.88
9.73
10 75
5 03
4 09
7 55
11.88
10.16
11 22
5 03
4 09
7 55
11.90
10.19
11 °3
5 04
4 19
7 gg
12.91
10.34
11 44
5 08
4 19
7 82
12.91
10.37
11 49
5 09
4 04
10.41
11 52
5 12
4 08
8 13
13.18
10.43
10.41
11 64
4 57
4' 09
8 13
13.22
10.51
10.72
12 05
4 82
4 34
8 13
13.22
By group:
Industrials
Public utilities
Railroads
_.
_
Stocks
Dividend rates, prices, yields, and earnings, common stocks (Moody's):
Dividends per share, annual rate, composite
dollars..
Industrials
.
.. do
Public utilities
.
do
Railroads
do
N.Y. banks
do
Property and casualty insurance cos.
do
Price per share, end of mo., composite _
Industrials..,
_
Public utilities.
Railroads
_
do
do
do
do
Yields, composite
percent..
Industrials.. _ _ .
_
do
Public utilities
do
Railroads
_ _ do
N.Y. banks
do
Property and casualty Insurance cos . . .do
Q fi1
4 87
3 73
7 09
10.99
A no
7 CO
12.13
AA
9QH R^
OOC
362 44
OK(\
OO
n
91
on on
01 nn
7Q *79
280
351
72
71
68
31
89
40
289
363
69
74
3.29
2 87
7 19
5 33
2 91
3 60
2 g2
Q /1C
3.35
2 90
6 86
5 56
3 20
3 82
Earnings per share (indust., qtrly. at ann. rate;
pub. utll. and RR., for 12 mo. ending each qtr.):
Industrials
dollars
Public utilities
do
Railroads
do
20 28
7 73
6 71
26 01
7 55
7 6Q
27.15
7.63
7.10
Dividend yields, preferred stocks, 10 high-grade
(Standard & Poor's Corp.)
percent--
6.89
7.23
7.25
319. 36
950.71
112.83
241. 44
286 73
923. 88
103. 39
180 55
274 32
893. 90
105 34
159 79
275
903
101
162
Prices:
Dow- Jones averages (65 stocks)
Industrial (30 stocks)
Public utility (15 stocks)
Transportation (20 stocks)
Standard & Poor's Corporation:^
Industrial, public utility, and railroad:
Combined index (500 stocks)
1941-43=10.Industrlal, total (425 stocks) 9
Capital goods (116 stocks)...
Consumers' goods (184 stocks)
Public utility (55 stocks).
Railroad (20 stocks)..
Banks:
New York City (9 stocks)
Outside New York City (16 stocks)
3.07
9 fi*»
6 ft7
4 in
3 QC
3.36
7 (\A.
c no
38
50
70
55
279
350
67
71
26
38
87
44
3.43
3 01
7 40
5 68
2 83
3 69
99
90
38
35
3.34
2 96
6 95
5 25
2 75
3 20
288
361
68
80
50
44
21
73
3.37
2 97
7 87
5 07
2 70
3 28
258
320
60
83
72
11
95
86
3.93
3 51
8 25
4 gg
3 02
3 38
23.77
7.60
7.11
7.35
35
61
38
70
263
323
60
95
71
48
87
43
3.86
3 47
8 28
4 39
2 91
3 70
259
318
63
89
96
98
23
14
3.98
3 59
8 03
4 70
3 20
3 80
13.10
°59
316
63
91
70
'>")
79
77
°53
310
61
86
3.99
3 63
7 99
4 40
3 10
3 93
4.11
3 71
8 35
4 74
3 30
4 21
r
29.18
7.55
7.60
37
44
31
16
re
A f\Q
1o
8
13.18
0 ,40
I 4
OAA O1
CA
00
4.29
Q
AC
5
AC
A
XA
n
on
4 57
4 11
8' 1^
13.22
56
23
49
58
232 79
29l' °3
4.°i 4.t
914. 84
74. 71
74. 8^
4.42
3 97
9 62
5 56
3 76
5 13
4.51
235
293
47
73
25. 06
v 7 15
•P 7.89
4
AC
4
01
10 5^
5 50
5 44
967 87
4.99
1 n 74.
5
Of)
6
4.')
?31. 60
P 7 03
7.43
7.38
7.18
7.40
7.76
7.60
7.47
7.56
7.83
8.11
8.25
8.40
267 36
883. 73
95 72
157 72
277. 54
909. 98
99.96
166 82
295. 03
967. 62
101. 67
182 75
272.02
878 .98
93.18
175.93
259. 84
824. 08
87.42
177 96
273 50
857. 24
93 16
191 05
266. 86
831. 34
93. 16
186 15
277 49
874. 00
92 79
193 83
264. 53
847. 79
85.48
181. 13
251 83
829. 84
76 03
167 57
251. 00
831. 43
71.81
169. 77
236. 19
783. 00
68.47
158. 36
109. 20
107. 43
104. 75
105. 83
103. 80
105. 61
109.84
102.03
94.78
96.11
93.45
97.44
92.46
89.67
89.79
82.82
--do
do
do
do
do
121. 79
119.39
113. 90
56.89
44.11
120. 44
118. 57
107. 13
53.47
37.76
117.20
114.75
104. 83
54.37
34.35
118. 65
116. 31
105. 94
53.31
35.22
116. 75
115.98
104.35
50.14
33.76
118. 52
116. 60
105. 16
52.31
35.49
123. 42
122. 30
106. 58
53.22
38.24
114.64
115.48
96.97
48.30
39.74
106.16
107. 44
86.57
45.73
41.48
107. 18
108. 06
87.63
48.60
44.37
104.13
104. 31
86.85
48.13
41.85
108. 98
109. 22
92. 24
47. 90
42. 80
103. 66
104. 19
87.73
44.03
40.26
101.17
100. 69
87.34
39.35
37.04
101. 62
100. 10
90.07
37.46
37.31
93. 54
93. 64
80.34
35.37
35.63
do
do.
57.37
105. 81
64.60
104.35
58.28
97.45
66.05
102. 23
66.62
102. 43
71.08
107. 24
73.43
113. 30
69.63
107.01
65.33
101. 09
65. 38
108. 04
62.93
107. 14
67.63
110. 38
63. 93
103. 39
59.92
93.23
56. 70
86.06
49. 12
72.43
115. 33 119. 88 117.72 111.89 114. 65 106. 34 103. 67
96. 25
82.88
85.91
assumed 3 percent 20-year bond.
O For bonds due or callable in 10 years or more.
9 Includes data not shown separately.
70.28
Property-liability insurance (16 stocks)__do
132. 68
118. 93 113.36 122. 09 114.02
Revised.
p Preliminary.
cf Number of issues represents number currently used; the change in number does not
affect continuity of the series.
U" Prices are derived from average yields on basis of an
r
287
357
72
77
7 g3
4
SURVEY OF CURRENT BUSINESS
S-22
Unless otherwise stated in footnotes below, data
through 1972 and descriptive notes are as shown
in the 1973 edition of BUSINESS STATISTICS
1972
1973
| 1973
Annual
August 1974
June
July
Aug.
Sept.
1974
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
47.35
52.53
33.62
30.25
52.85
47.14
52.63
33.76
29.20
51.20
43.27
48.35
31.01
27.50
44.23
FINANCE—Continued
SECURITY MARKETS— Continued
Stocks — Continued
Prices— Continued
New York Stock Exchange common stock indexes:
Composite
- 12/31/65=50
Industrial
do
Transportation
do
Utility
do
Finance
- -- _-do
Sales:
Total on all registered exchanges (SEC):
Market value
mil $
Shares sold
millions
On New York Stock Exchange:
Market value
mil $
Shares sold (cleared or settled)
millions
New York Stock Exchange:
Exclusive of odd-lot and stopped stock sales
(sales effected)
millions
Shares listed, N.Y. Stock Exchange, end of period:
Market value all listed shares
bil. $
Number of shares listed
millions. .
60.29
65. 73
50.17
38.48
78.35
57.42
63.08
37.74
37.69
70.12
55.14
60.52
33.72
37.95
63.52
56.12
61.53
34.22
37.68
68.95
55.33
61.09
33.48
35.40
68.26
56.71
62.25
35.82
36.79
72.23
59.26
65.29
39.03
37.47
74.98
54.59
60.15
36.31
34.73
67.85
50.39
55.12
34.69
33.47
62.49
51.39
55.77
36.85
35.28
64.80
50.01
54.02
36.26
35.27
62.81
52.15
56.80
38.39
35.22
64.47
49.21
53.95
35.87
32.59
58.72
204, 026
6299
177,878
5,723
12, 085
409
11,927
399
12, 659
424
12, 623
408
18,726
587
17, 501
560
14, 072
524
14,411
524
9,657
359
12, 649
450
9,340
343
159, 700
4 496
146, 451
4,337
9,852
308
9,717
306
10, 342
330
10, 395
309
15, 644
457
14, 528
435
11,860
407
12, 038
401
7,953
273
10, 580
352
7,695
266
4,138
4,053
269
308
271
329
423
400
385
363
257
310
254
275
245
274
871. 54
19, 159
721.01
20, 967
752.58
20,327
792.06
20,466
765. 77
20,521
807. 24
20, 548
808. 69
20, 607
709. 54
20, 694
721.01
20, 967
719. 81
21,056
718. 89
21,110
701. 18
21, 163
669. 91
21,224
645. 56
21,337
628. 48
21, 397
582. 96
21,440
FOREIGN TRADE OF THE UNITED STATES
VALUE OF EXPORTS
Exports (mdse.), incl. reexports, total
mil. $.. 49,788.2 71,314.0
5,896.4
5,392.2
5,819.3 6, 015. 6 6, 783. 5 7,127.7 6, 969. 7 6, 873. 6 7, 340. 1 8, 547. 3 8, 418. 0 8, 488. 1 8, 384. 4 7,695.7
do
do
49,218.6 70, 798. 4 5,857.9 5,326.1 5,787.4 5, 959. 0 6, 749. 3 7,091.1 6, 925. 7 6,831.6 7, 298. 2 8, 519. 6 8,381.4 8, 427. 0 8, 327. 5 7,655.9
5,725.6 5,859.9 6,044.3 6,413.7 6,584.0 6,870.6 6,953.5 7,111.0 7, 605. 5 7, 673. 9 8, 234. 0 7, 629. 7 8, 356. 7 8,307.2
do
do
do
do
171.3
172.2
284.9
342.3
208.2
286.6
199.2
247.2
239.7
295.9
217.4
247. 5
232.0
1,576.1 2, 306. 9
11,297.2 18, 425. 4 1, 444. 2 1,466.3 1,574.0 1,692.6 1,714.0 1,915.1 1,820.2 1,813.7 2, 039. 2 2, 345. 5 2, 204. 6 2, 063. 4 2, 024. 3
125.5
158.1
205.5
183.1
233.6
198.4
142.4
135.2
248.5
226.4
212.6
186.1
134.0
1,034.4 1, 743. 9
17,158.0 22, 179. 6 1,899.0 1, 729. 6 1,825.8 1,772.4 2,061.3 2, 237. 3 2, 307. 4 2, 210. 5 2, 452. 5 2, 774. 0 2, 630. 4 2, 672. 4 2, 625. 4
Northern North America
Southern North America
South America
do
do
do
12,418.8 15, 075. 1 1, 334. 3 1, 049. 3 1,080.9 1,190.9 1,516.4 1,343.0 1, 377. 7 1, 396. 8 1, 405. 9 1, 666. 7 1,705.9 1,789.1 1,732.4
427.4
453.3
640.7
624.5
676.0
670.0
509.2
474.6
541.0
525.9
449.2
410.5
507.1
3,564. 1 5, 027. 3
357.3
442.9
749.9
617.9
611.0
698.5
488.7
482.9
375.2
447.5
552.8
539.6
512.7
3,707. 1 4, 901. 3
By leading countries:
Africa:
Egypt
Republic of South Africa
do
do
76.1
602.5
225.4
746.4
34.4
60.3
20.7
59.8
13.2
60.8
33.4
66.9
6.0
77.5
13.7
71.3
15.5
67.0
40.7
61.9
32.0
80.0
45.4
92.1
43.3
100.6
35.8
85.5
28.6
109.9
do
do
do
do
856.5
350.1
183.0
128.0
1, 449. 1
524.9
238.9
161.6
108.6
35.5
15.7
10.4
107.6
37.3
24.9
12.3
135.2
49.7
9.0
14.3
106.7
82.1
19.0
15.2
116.5
61.8
23.7
19.7
217.4
47.5
28.8
17.1
183.8
34.5
31.6
20.3
133.0
20.6
30.4
23.4
151.1
16.2
25 3
24^9
198.1
34.1
59.3
29.6
187.5
40.8
50.8
26.7
174.0
39.6
20.7
30.7
164.0
51.1
39.0
31.4
do
do
do
307.6
365.5
4, 962. 9
442.1
495.5
8,311.8
35.7
44.6
706.2
34.4
45.6
621.9
30.2
41.4
747.8
41.5
41.3
704.1
42.8
44.7
757.4
42.5
55.5
794.8
54.0
55.1
771.9
43.7
47.0
796.3
33.2
51.2
964.6
44.3
69.6
939.1
43.6
58.7
944.7
33.8
69.4
887.8
41.7
77.0
765.1
do
do
do
1,608.9
17.5
2,807. 5
2, 263. 1
28.0
3, 755. 9
160.5
.6
322.1
154.0
.8
280.9
165.2
11.0
308.4
167.2
.3
298.5
200.8
.5
355.3
198.4
5.3
379.6
217.4
2.7
389.1
211.9
5.2
367.7
225.1
.3
428.6
293.3
.4
484.0
234.9
3.6
448.6
257.2
3.6
407.7
245.6
.6
442.6
do
do
do
1,434. 2
542.2
2, 658. 2
2,118.8
1, 189. 8
3, 563. 5
225.3
142.9
282.5
182.3
103.8
272.5
166.9
97.3
267.9
152.8
77.1
289.0
169.8
76.8
346.4
213.3
64.4
377.4
190.6
77.0
340.2
196.9
55.7
345. 6
224.5
55.8
327. 5
285.1
53.8
410.7
247.7
38.8
343.8
278.3
56.7
434.6
207.8
55.7
375. 8
Excl Dept of Defense shipments
Seasonally adjusted
By geographic regions:
Africa
Asia
Australia and Oceania
Europe
Asia; Australia and Oceania:
Australia including New Guinea
India
.
Pakistan
Malaysia
Indonesia
Philippines
Japan
--
Europe:
France
East Germany
"West Germany
Italy
Union of Soviet Socialist Republics
United Kingdom
North and South America:
Canada
Latin American Republics total 9
Argentina
_
Brazil
Chile
Colombia
Mexico
Venezuela
Exports of U.S. merchandise, total
Excluding military grant-aid
Agricultural products total
Nonagricultural products, total
do
12,415.2 15, 072. 8 1, 334. 1 1,049.1 1,080.8 1,190.7 1,516.3 1,342.9 1, 377. 7 1, 396. 5 1,405.8 1,666.6 1, 704. 0 1, 788. 3 1,731.8
do
do
do
do
do
do
do
6,466.8
396.1
1 242.7
185.9
317.3
1, 982. 2
923.7
8,921.4
451.3
1,916.0
248.5
436.6
2, 937. 4
1,032.5
705.7
29.4
149.0
19.4
39.0
235.8
71.4
706.3
25.2
151.3
10.2
33.2
253.0
81.9
812.9
67.9
160.8
15.2
47.3
268.1
84.8
809.2
53.5
183.2
14.8
44.2
271.7
82.0
974.4
59.1
231.0
38.6
41.1
318.1
99 2
933.7
53.4
210.5
50.6
40.4
277.9
101.3
896.2
31.0
234.8
29.4
43.6
281.1
91.2
927.1
31.5
214.6
20.4
40.2
320.8
97.1
do
do
do
do
'48,958.9
'48,399.3
9, 406. 9
'39,573.1
'70,246.0
'69,730.4
'17,662.5
'52,548.3
'5,794.9
'5,756.4
'1,376.1
'4,418.8
'5,315.4
'5,249.3
1,218.1
4, 087. 8
'5,713.7
'5,681.8
1, 469. 5
4, 236. 9
'5,942.1
'5,885.5
1,448.7
4, 487. 8
'6,669.4
'6,635.2
1,733.7
4, 934. 4
'7,044.9
'7,008.3
2, 082. 0
4, 955. 9
'6,881.5
'6,837.4
1, 975. 6
4, 910. 5
6, 729. 5
6, 750. 4
1, 839. 2
4, 953. 2
By commodity groups and principal commodities:
Food and live animals 9
mil $
Meats and preparations (incl. poultry). -do
Grains and cereal preparations
do
Beverages and tobacco
do
Crude materials, inedible, exc. fuels 9. ..do __
Cotton, raw, excl. linters and waste
do
Soybeans, exc. canned or prepared
do
Metal ores, concentrates, and scrap
do
r
Revised.
5,660.6 11,930.8
444.2
251.9
3,501.1 8,495.1
908.3
5,030.4
503.3
1,508.1
507.9
9 Includes data not shown separat ely.
1,008.5
8, 383. 6
929.0
2, 757. 4
1,080.8
r
949. 9
38.5
' 659. 9
73.4
' 676. 2
81.5
187.0
93.3
::;::::
912. 7 1, 129. 5 1, 175. 9 1, 265. 0 1, 285. 1
42.9
35.1
50.6
43.1
35.0
290.5
316.3
245.4
246.8
175.2
40.9
26.6
28.5
38.1
21.8
56.4
65.9
49.9
49.5
51.3
429. 9
395.6
322 2
365.4
428.9
176.6
144.5
140.6
135.8
100.2
7, 248. 7
7, 206. 9
1,918.5
5, 330. 3
8, 433. 8
8, 406. 2
2, 106. 3
6, 327. 5
8,292.4
8, 255. 9
2,014.1
6, 278. 4
8, 357. 0
8, 295. 9
1,795.3
6, 561. 6
8, 268. 5
8,211.5
1, 704. 9
6, 563. 6
907.4 1,216.7 1,191.0 1,216.0 1,385.2 1, 293. 1 1,198.1 1, 156. 8 1, 257. 3 1,181.8 1, 083. 4 1, 074. 6 1,081.5
26.5
30.2
26.5
35.0
41.7
35.6
27.5
44.7
43.9
30.8
28.7
32.4
776.0
877.5
805.7
917.0
879.1
660.5
989.7
921.1
847.3
935.6
820.3
920.2
72.1
563.7
58.6
112.0
129.0
77.3
558.9
52.1
93.4
129.4
92.9
506.3
47.5
50.1
106.0
110.6
749.8
50.2
278.0
90.7
128.7
892.2
56.6
419.8
79.7
94.3
852.2
128.9
334.9
79.5
90.8
854.0
123.3
298.0
99.4
87.2
79.1
94.9
111.3
992.6 1,113.8 1, 080. 4 1, 013. 8
163.3 ' 141.3
201.0
145.1
401.0
275.1
404.9
378.7
108.0
144.4
97.0
109.0
106.9
90.0
912.2
.124. 9
221. 9
162.6
768.4
SURVEY OF CUREENT BUSINESS
August 1974
Unless otherwise stated in footnotes below, data
through 1972 and descriptive notes are as shown
in the 1973 edition of BUSINESS STATISTICS
1972
1973
1973
Annual
S-23
June
July
Aug.
Sept.
1974
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
222.7
145.3
65.5
281.0
194.7
72.8
309.3
227.5
67.8
305.7
FOREIGN TRADE OF THE UNITED STATES—Continued
VALUE OF EXPORTS— Continued
Exports of U.S. merchandise— Continued
By commodity groups and principal commodities — C ontinued
Mineral fuels, lubricants, etc. 9
mil. $
Coal and related products _ . _ _
do
Petroleum and products
do
1, 552. 5
1, 019. 1
444.5
1,670.5
1,052.0
518.0
137.8
91.1
39.8
132.3
81.3
44.2
154. 1
102.8
41.8
121.6
65.7
48.0
177.1
119.6
49.9
156.2
105.3
43.1
175.0
105.7
59.6
144.2
67.5
59.2
178.6
116.4
46.4
161.6
90.0
60.5
do
508.0
684.0
58.9
58.9
59.6
66.2
59.1
61.4
77.6
73.7
96.5
100.9
124.2
131.7
138.2
164.3
Chemicals
.
do
4,132.8
5, 748. 5
475.8
467.8
516.5
505.6
553.1
566. 9
544.8
604.6
650.2
734.8
774.7
711.9
775.9
798.5
Manufactured goods 9
Textiles
Iron and steel
...
Nonferrous base metals
do
do
do
do
4,904.1
778.8
825.9
566.8
7, 161. 3
1,224.7
1, 300. 8
950.3
587.0
96.4
102.2
71.2
556.6
89.0
103.2
78.7
607.5
94.9
107.3
87.1
648.8
120.1
106.8
95.8
709.2
127.0
127.4
103.8
731.3
141.0
130.4
109.7
705.4
134.5
155. 5
99.0
756.3
140.1
155.2
100.0
795.5
145.0
155.4
98.1
934.3
167.2
186.1
114.2
952.0
171.2
193.1
135.0
1,036.3
165.4
239.9
141.3
983.3
161.0
233. 2
114.2
936.1
_
and transport equipment, total
mil. $_- 21, 532. 7 27, 841. 7
2,317.1
Animal and vegetable oils, fats, waxes,
Machinery
Machinery, total 9
do
Agricultural
__ __ do
Metalworking .
.
. do
Construction, excav. and mining
do
Electrical
..
do
Transport equipment, total
do
Motor vehicles and parts
do
Miscellaneous manufactured articles
Commodities not classified
13,236.1
749.6
410.0
1,598.9
3, 697. 8
8, 296. 6
4,799.4
2,049.5 2, 067. 6 2, 319. 4 2,551.0 2, 564. 0 2, 647. 5 2,515.5 2,734.3 3, 376. 3 3, 185. 7
3,268.6 3, 267. 2 2, 809. 9
17, 129. 7 1, 428. 8 1,383.2 1, 402. 1 1, 433. 6 1,631.9 1,554.6 1, 572. 6 1, 640. 4 1, 626 .3 2, 009. 0 1,929.0 2,009.6 1, 953. 9
129.4
75.5
85.6
114.1
114.3
77.4
84.6
120.3
987.1
76.0
86.6
79.0
69.0
86.5
60.0
44.2
41.5
32.7
50.5
43.5
57.5
42.0
53.9
488.9
35.8
39.2
38.7
50.6
260. 9
181.0
188.4
238.3
2, 094. 6
181.5
168. 9
193.9
252.8
265. 0
182.9
169.1
178.2
191.7
429.
9
590.
8
466.1
459.0
489.5
594. 3
575. 6
593. 1
5, 030. 7
521.5
413.8
397.8
414.1
489.1
885.8
10,712.1
875. 1 1,107.9 1, 367. 3 1,256.7 1,259.0 1,313.3
888.6
666.4
665.4
919.0 1,009.3 1, 074. 9
674.7
468. 9
546.3
572.0
671.3
489.7
544.7
666.8
627.3
5, 988. 7
521.7
407.7
389.5
620.7
569. 1
906. 2
do
3,189.6
3,950.7
345.4
308.9
331.0
336.9
378.5
373.3
346.1
371.3
382.9
477.9
468.1
500.6 | 474. 1
417.1
do
1,559.5
1,843.5
171.1
193.2
126.8
147.7
163.8
178.6
150.2
184.1
174.2
197.8
207.8
218.5
222.0
226.7
VALUE OF IMPORTS
.
do
do
55, 582. 8 69, 121. 2
_ _
do
do
do
do
244.9
623.6
1,595.3 2, 350. 5
395.9
563.7
558. 9
142.2
232.8
145.5
124.0
124.3
187.5
201.2
245.9
15,116.9 17,774.5 1,549.1 1,567.0 1, 789. 0 1,502.6 1, 656. 9 1,566.2 1,254.1 1, 476. 3 1,425.9 1, 768. 9 2, 026. 2 2,343.7 2, 418. 1
165.1
1,145.5 1,553.6
113.0
149.9
96.7
109.8
106.8
116.5
139.0
200.9
134.3
123.0
124.0
175.0
15,743.9 19, 680. 5 1, 628. 9 1,668.8 1, 769. 1 1,402.9 1, 804. 8 1, 960. 8 1, 629. 2 1, 728. 0 1,705.3 2, 098. 5 2, 227. 4 2,190.8 2, 109. 8
14,933.1 17, 452. 4 1, 673. 7 1,395.7 1,177.7 1, 329. 3 1, 648. 3 1, 546. 3 1,221.2 1, 414. 0 1,396.6 1, 783. 9 1, 796. 0 2,094.4 1, 862. 3
435.7
3,537.0 4, 987. 5
804.3
872.5
807.2
828. 9
680.0
357.9
468.0
487.8
577.1
418.4
450.8
364.5
416.3
3,459.8 4, 340. 8
752.2
728.5
670.2
522.1
839.4
470.7
407.6
601.0
316.0
388.1 343.1
325. 5
General imports, total.
Seasonally adjusted.By geographic regions:
Africa
Asia
Australia and Oceania
Europe
Northern North America
Southern North America
South America
do
_ .. do
do
-
By leading countries:
Africa:
Egypt
Republic of South Africa
do
do
16.9
324.7
25.9
373.9
2.2
28.4
1.0
38.5
4.9
27.0
2.5
33.6
3.7
31.9
1.6
34.4
.6
23.5
1.2
19.3
2.6
32.2
.5
43.1
3.8
35.9
8,899.2 8,556.5 9, 003. 1
8,406.6 8, 612. 5 9, 035. 6
15.0
42.3
12.2
76.2
Asia; Australia and Oceania:
Australia, including New Guinea
India
Pakistan _ _„ _
._
Malaysia
._ __ _,
Indonesia
Philippines-.
Japan
_
do_ ..
do
do
do
do
do
do
819.9
426.6
40.2
301.2
277.8
490.9
9,064.1
1,087.4
434.9
38.8
417.1
442.2
662.9
9, 644. 8
82.5
39.2
1.7
40.0
48.4
55.0
810.9
84.0
33.1
3.4
38.5
32.5
80.9
821.1
123.8
40.8
4.2
38.0
51.4
75.6
944.1
80.3
42.2
3.8
39.5
48.7
71.3
753.4
114.5
41.6
3.1
41.8
44.5
42.3
823.6
146.0
33.5
3.9
41.9
28.9
69.7
895.7
112.1
36 2
3.8
33.5
25.3
50.9
702.5
109.2
43.2
5.4
44.4
33.1
35.0
836.5
64.6
47.9
6.2
38.3
48.8
57.4
763.0
86.1
41.6
3.6
57.9
112.8
66.1
808.2
72.4
75.6
48.8
39.1
5.4
5.3
60.3
54.7
159.5
161. 9
94.7
86.8
951.3 1,039.0
71.9
49.8
4.5
53.2
110.5
88.7
984. 9
Europe:
France __
East Germany-- _ - _ . _ _
West Germany
Italy
.-_
.
Union of Soviet Socialist Republics
United Kingdom . _ _ _
do
do
do
do
do
do
1,368.6
10.3
4,250.3
1,756.7
95.4
2,987.1
1,715.3
10.5
5,318.2
1, 988. 0
213.7
3,642.1
145.7
1.2
460.1
166.8
11.4
298.5
162.3
1.1
470.9
166.7
12.5
300.1
168.7
.9
482.1
208.2
18.7
343.0
121.3
1.0
341.8
141.2
19.1
259.1
131.9
.9
530.4
155.2
22.8
317.9
157.9
1.0
514.0
189.1
26.6
372.1
144.5
.6
382.9
165.2
28.9
274.1
135.4
1.0
498.8
190. 8
25.4
245.0
128.7
.4
433.1
235.1
42.7
258.2
164.2
1.3
521.5
248.4
30.8
368.4
189.8
.9
617.2
235.5
33.3
338.4
190.6
1.2
594.6
224. 0
30.8
350.7
203.7
2 7
58s! 6
195. 3
24.7
371.0
North and South America:
Canada _
do
14,926.7 17, 442. 9 1, 672. 8 1,394.5 1, 176. 1 1,327.4 1,647.5 1,546.2 1, 220. 0 1,414.0 1,396.6 1, 782. 8 1, 794. 9
Latin American Republics, total 9
do
5,772.5
Argentina
_
do
201.4
Brazil
do
941.6
Chile
.
do
82.9
Colombia
_
do
283.9
Mexico
do
1,632.2
Venezuela
. __ _
do
1, 297. 5
By commodity groups and principal commodities:
Agricultural products, total
mil. $_. 6,512.8
Nonagricultural products, total
do
49,069.9
Food and live animals 9
Cocoa or cacao beans.. _
Coffee
Meats and preparations
Sugar..
_
do
do
do
do
do
6, 370. 1
150.9
1,182.1
1 "? 8
831.6
7, 600. 1
274.1
1, 183. 0
101.9
406.9
2, 287. 0
1,624.8
604.9
17.9
94.5
2.9
32.8
206.6
121.9
569.8
22.4
LO
34.7
170.8
128.5
671.8
24.9
99.0
1.5
21.9
198.0
169.8
570.6
21.2
89.9
3.8
29.4
164.2
147.2
700.8
26.4
108.9
12.1
35.7
207.9
159.1
710.0
27.7
113.0
25.6
43.3
218.8
128.3
736.2
34.7
126.2
12.8
47. 1
209.0
164.4
921.5
33.8
148. 5
25.0
43.8
226.0
273.5
853.8 1, 220. 8 1, 243. 5
28.5
26.2
35.3
140.4
124.3
131.8
31.2
20.7
45.7
52.1
45.2
53.8
297.0
341.7
251.4
458.9
370.6
248.4
7, 986. 2
212.0
1, 565. 9
1,668.0
917. 7
627.1
15.5
126.1
120.8
69.3
598.9
14.4
117.0
125.7
75.5
696.9
10.1
127.6
175.1
100.5
615.7
6.3
102.2
143.8
79.9
707.0
3.2
124.8
200.1
39.2
809.0
14.1
122. 9
185.0
107.6
743.4
25.7
153.0
133.0
105.0
104.1
113.1
116.5
127.8
126.5
413.6
102.5
79.1
19.0
35.2
478.6
115.8
93.5
23.8
44.7
556. 9
158.0
96.9
18.2
59.0
561. 6
185. 9
94. 5
21.3
46.0
532. 8
91.2
91.0
128.0
127.0
113.7
431.3
128.4
55.3
22 1
22.3
408.7
128.5
45.0
20.6
38.9
386.8
99. 9
51.8
15.9
39.1
490.7
148.8
70.1
17.4
42.6
478.7
134. 8
79.4
17.4
38.3
383.0
114.5
58.8
14.1
26.3
do_.
4,799.0 8,101.0
~do"~~ 4, 299. 6 7,548.5
604.3
566.7
554. 9
515. 5
776.3
728.8
694.9
648.5
794.7
740.9
908. 3 1, 030. 5
962. 5
860.6
19.8
208.8
18.9
185.8
23.5
206.2
21.2
189.2
25.5
206.1
37.4
216.2
38.5
208.2
23.6
200.7
24.5
226.3
968.9 1,136.0 L, 239. 6
220.9
281.7
258.9
83.6
109.0
93.1
188.4
294. 9
209. 5
116. 5
127. 5
132.0
, 071. 3
257.3
97.4
231.3
115.3
094.8
212. 0
123. 9
241.4
126. 0
, 081 .4
218.0
117.3
241.7
121.7 1
,114.0 1,192.7 1, 135. 2
243.5
273.4
279.5
109.4
80.9
97. 4
188.8
178. 9
211.2
128.3
128.9
136.5
774.6
488.0
132. 4
84.0
23.7
53.4
94.4
453.1
121.9
51.9
21.0
29 2
3, 198. 3
3, 008. 6
1,184.8
2, 449. 4
1, 568. 1
772. 4
35.8
124.0
102.0
159. 4
86.2
97.3
4, 987. 9
1, 290. 7
676.9
235.6
344.5
Manufactured goods 9
do
11,421.6
Iron and steel
.
do
2, 927. 6
Newsprint
do
1,053.9
Nonferrous metals
do
1,933.0
1 59fi fi
Textiles
"do
Revised.
9 Includes data not shown separately.
822.6
42.1
148.8
109. 7
154.8
387.9
85.3
78.5
18.5
41.7
1,213.1
3, 859. 8
1,021.6
509. 9
195.8
196.2
254.6
2, 436. 7
823.4
29.8
184.0
127.1
134.3
100.3
1, 009. 4
do
do
do
do
do
179.6
2, 014. 6
910.4
38.1
194.2
159.3
124.7
780.8
36.5
165.3
167. 9
45.9
do
do
do
1,137.0 1, 062. 1
29.3
27.1
101.6
94. 0
40.1
25.0
51.6
58.7
281.3 259 9
364.0
331.2
725.3
32.7
123.8
156.8
86.9
Crude materials, inedible, exc. fuels 9
Metal ores
Paper base stocks. __
Textile fibers
_
Rubber
Animal and vegetable oils and fats
Chemicals
__
2,094.3 1,861.4
910.1
916.9
858.4
992. 4
725.4
715.6
806.9
644.5
670.1
839.3
772.0
813. 4
8, 450. 0
641.8
60, 671. 2 5, 230. 7 5, 010. 0 5,272.0 4,641.8 5, 657. 7 5, 947. 9 5, 005. 3 5, 836. 2 5, 885 .4 6, 830. 7 7, 460. 7 7,982.3 7, 698. 2
Beverages and tobacco
Mineral fuels, lubricants, etc
Petroleum and products
r
5,900.7 5, 651. 8 5, 997. 4 5, 286. 3 6,373.3 6, 787. 2 5, 777. 3 6, 649. 6 6,692.3 7,823.2 8, 370. 8
5 765 2 5,821.2 5,991.4 5,621.3 5,968.6 6,627.5 6,083.9 6, 467. 2 7,392.4 7,845.2 8, 141. 2
, 304. 9 1,577.0 L, 819. 6 2, 292. 1 2,285.5 2, 086. 3 2, 407. 4
, 210. 7 1,491.0 , 739. 2 2,211.2 2,199.8 2, 003. 5
35.3
262. 3
40.3
310.4
,312.8 , 290. 7
282.6
245. 9
123. 2
119. 5
304.4
375.0
132.2 ! 126. 2
42.2
333.8
26.6
330.5
70.3
350.8
1,494.5 ] , 514. 2
347.4
410.2
121.0
121.5
344.3 ! 329. 3
144. 3
148. 6
, 529. 4
SUKVEY OF CURRENT BUSINESS
S-24
Unless otherwise stated in footnotes below, data
through 1972 and descriptive notes are as shown
in the 1973 edition of BUSINESS STATISTICS
1973
1973
1972
Annual
August 1974
June
July
Aug.
Sept.
1974
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
FOREIGN TRADE OF THE UNITED STATES—Continued
VALUE OF IMPORTS— Continued
General imports— Continued
By commodity groups and principal commodities—Continued
Machinery and transport equipment
mil. $.. 17, 420. 1 20, 969. 6 1,918.1 1, 700. 7 1, 683. 7 1, 507. 6 1, 943. 9 2, 055. 2 1,443.2 1,943.9 1, 770. 2 1,984.3 2, 120. 1 2, 303. 8 2, 153. 6 2, 131. 2
759. 4
710.7
7, 786. 9 9, 909. 2 865.0
855.3
912.4
907.2
934.9 1,003.1
882.5
765. 1
994.9 1 032.5 1 021 3
Machinery total 9
do
20.5
14.5
19.2
140.4
187.9
17.3
14.5
19.6
19.6
19.1
17.7
22.0
Metalworking
do
15.6
23.0
22.8
391.2
322.7
3, 376. 7 4,471.1
387.0
358.1 466.3 446.5
419.1 340.2
403.6
444.5
477.6
484.7
Electrical
. -_
do
421.6
Transport equipment
Automobiles and parts
Miscellaneous manufactured articles
Commodities not classified.
-
do
do
9, 633. 2 11, 060. 4 1, 053. 2
896. 2
7, 946. 1 9, 216. 1
845.4
706.7
776.5
608.3
748.2 1, 009. 0 1,052.2
602.8
884.8
867.2
732.5 1,061.5 1, 005. 1 1, 071. 9 1, 125. 2 1,271.3 1, 132. 4
611.4
897.9
929.5 1 086.9
922.0
882.6
927 7
do
6, 910. 6
8, 184. 0
697.1
720.4
820.0
666.2
781.3
772.2
608.3
642.3
640.2
735.6
723.1
770.2
800.4
885.5
do
1, 598. 0 1,789.8
160.9
153.8
156.6
144.9
160.2
143.4
155.3
144.6
155.1
170.8
179.0
173.2
183.0
194.5
Indexes
Exports (U.S. mdse., excl. military grant-aid):
Unit value
1967 = 100
Quantity
-do _.
Value
do
General imports:
Unit value
do
Quantity
do
Value
do
117.6
134.3
158.0
137.5
165.4
227.5
134. 5
167.5
225.3
137.6
149.1
205.2
142.9
155.5
222 2
141.6
162.5
230.2
147.1
176.6
259.8
149.2
183.7
274.1
155.3
172.5
267.9
158.7
166.6
264.3
162.7
173.5
282.2
166.3
198.0
329.2
167.3
193.3
323.3
166.9
194.7
324.8
172.1
186.8
321.5
126.1
163.8
206.6
149.6
171.8
257.1
147.8
178.2
263.3
160.3
167.8
252.2
153.5
174.4
267.6
152.3
154.9
235.9
159.6
178.2
284.4
165.0
183.6
302.9
172.7
149.3
257.8
181.7
163.3
296.8
192.5
155.2
298.7
202.8
172.2
349.1
215.6
173.3
373.6
218.5
181.7"
397.1
223.6
170.8
381.8
thous sh tons
mil $
230 176
25, 520
274, 259
39, 641
24, 609
3,182
22,524
3,050
25, 283
3,429
21,751
3,356
24,645
3,802
24, 756
4,280
22, 762
4,042
19, 991
3,858
thous sh tons
mil $
350 845
33 617
437, 444
42, 555
37, 023
3,538
33, 479
3,512
44, 749
4,048
37, 583
3,340
41,291
3,871
42, 324
4,230
33, 412
3,720
32, 265
4.294
Shipping Weight and Value
Water borne trade:
Exports (incl. reexports):
Shipping weight
Value
General imports:
Shipping weight
Value
....
".
TRANSPORTATION AND COMMUNICATION
TRANSPORTATION
Air Carriers (Scheduled Service)
Certificated route carriers:
Passenger-miles (revenue)..
bil
Passenger-load factors
percent
Ton-miles (revenue), total!.. .
_mil .
Operating revenues 9 O
Passenger revenues
Freight and express revenues
Mail revenues
Operating expensesO
Domestic operations:
Passenger-miles (revenue)
Express and freight ton-miles
Mail ton-miles
Operating expensesO
Net income after taxes©
International operations: A
Passenger-miles (revenue)
Express and freight ton-miles
Mail ton-miles
Operating expensesO
mil $
do
do
do
do
bil
mil
do
do
do
bil
mil
do
do
1
16.98
57.5
2,230
13.15
48.5
1,843
12.88
47.8
1,848
11.99
55.5
1,736
13.13
56.9
1,826
12.99
55.0
1,766
11.69
55.6
1,636
13.78
57.4
1,921
13.70 P 13. 57 P 15. 12
57.5 P55.0 p 58.6
1,882 p 1,910 p 2, 034
161.96
52 1
22 242
14.95
55 0
2,008
11 163 P 12 419
9 271 p 10 274
938 p 1 075
•P 303
271
10 579 p 11 835
p 997
222
3 111
2 599
260
67
2 923
88
126 32
9 92°
687
11,55
258
55
p 9 694
T 9, 201
p 178
2 433
2, 267
77
35.64
1,916
522
3.39
157
43
26
p 2 725
p 2 634
'P 49
678
656
11
27 4
s 5 271
27 8
s 5, 345
27 8
'425
94
94
8,705
94
2,106
94
2, 151
94
2,433
94
2,294
94
2,413
58
236
66
51
67
47
89
171
189
47
46
„
43
45
152. 41
53 0
20f 746
118 14
2 567
686
8 662
8 158
196
34 27
1 738
616
2 612
o 420
16.00
54 9
2,088
p 3, 091
p 2, 494
p291
p 105
p 3, 015
Pl4
J>3 431
v 2, 859
^282
p65
p 3, 089
pl71
12.00
235
51
12.96
269
56
9.86
256
53
10.13
277
57
p 2 597
p 2, 375
*95
4.00
162
40
4.02
164
43
3.29
180
39
9.77
257
58
9. 45
221
53
10.26
222
56
p 2 457
p 2, 353
?35
..
..
2.75
187
39
10.58
231
74
p 3, 274
P 2, 651
p 281
p71
p 3, 224
P-4
2.22
175
47
11.08 P 10. 67 p 12. 00
J-267
P 252
243
P58
57
P54
p 2, 610
P 2, 496
P45
2.55
157
51
2.24
158
35
2.73
154
35
p 634
p 662
p —21
p834
?714
P 75
11.16
254
60
2.62
190
39
2.62
174
38
P 2 . 90
p 187
p41
p3. 12
p 176
P40
492
484
448
P664
P728
p —49
Local Transit Lines
Fares average cash rate
Passengers carried (revenue)
cents
mil
Motor Carriers
Carriers of property, large, class I:*
Number of reporting carriers
Operating revenues total
mil $
Net income, after extraordinary and prior period
charges and credits
mil $
Tonnage hauled (revenue), common and contract
carrier service
mil tons
Freight carried — volume indexes, class I and II
intercity truck tonnage (ATA) :
Common and contract carriers of property
(Qtrly )cf
average same period 1967—100
Common carriers of general freight, 'seas. adj.
1967=100
Class I Railroads
Financial operations, qtrly. (AAR):
Operating revenues, total, excl. Amtrak© 9 mil. $..
Freight
_.
. _ _ _.
do
Passenger, excl. Amtrak
do
0 perating expenses ©
. . . do Tax accruals and rents
do
Net railway operating Income
do
Net income (after taxes) ©
._
_ . do _
7 584
9
*"J°
27 8
391
27 7
413
27.7
462
27.7
448
27.7
447
27 7
483
457
534
1
128
142
145
136.4
163.4
162.2
132
142
159.0
159.3
3,727
14, 796
13,440
13, 794
3,482
12, 598
259
66
257
2,925
11,571
10, 580
592
|
2,366
2,030
211
859
830
1
ilol
558
1483
2
' Revised.
p Preliminary.
i Before extraordinary and prior period items.
Comparison with year-ago data may be affected by the change in reporting actual tonnage
carried
3
instead of billed tonnage, per the ICC Uniform System of Accounts (1/1/74).
Annual
t o t a l ; m o n t h l y data not revised.
9 Includes data not shown separately.
* Applies to
passengers, baggage, cargo, and mail carried.
§ Passenger-miles as a percent of available
seat-miles in revenue service reflects proportion of seating capacity actually sold and utilized.
O Total revenues, expenses, and income for all groups of carriers also reflect nonscheduled
27.7
408
162.6
167.7
174.6
170.1
2
2 167. 2
168. 4
2 166. 4
2 159. 1
2
157. 6
2 158. 5
i
3,939
3,913
3,633
i
3,656
3,634
3,372
74
68
66
3,099
2,990
2,898
671
572
641
168
282
163
1
97
i 203
!
183
service.
A Effective July 1973, carrier group referred to as "International"; no change in
comparability of data.
*New series.
Source: ICG (no comparable data prior to 19/2K
cf Indexes are comparable for the identical quarter of each year (and from year to year); see -.
for
©Natl. Railroad Pass. Corp. (Amtrak), not included in AAR data above, operations ^
me
1972 and 1973 (mil. dol.): Operating revenues, 163; 202; operating expense?, 286; 828; net incoi
-148; —159 (ICC).
SUEVEY OF CURRENT BUSINESS
August 1974
1972
Unless otherwise stated in footnotes below, data
through 1972 and descriptive notes are as shown
in the 1973 edition of BUSINESS STATISTICS
Annual
S-25
1973
1973
June
July
Aug.
1974
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
226.5
361.9
TRANSPORTATION AND COMMUNICATION—Continued
TRANSPORTATION— Continued
Class I Railroads— Continued
Traffic:
Ton-miles of freight (net), revenue and nonrevenue
bil
Revenue ton-miles, qtrly. (AAR)
do
Revenue per ton-mile.
cents..
Passengers (revenue) carried 1 mile
mil
800.8
776.7
1.616
8,560
878.4
846.8
1.620
9,298
2 435. 9
218.0
2 1. 607
4, 233
2 442. 5
214.0
2 1.632
2 5, 065
211.2
2
211.4
Travel
Hotels and motor-hotels:
Average sale per occupied room
dollars. . 19.64
63
Rooms occupied
% of total
123
Restaurant sales index-.-same mo. 1951— 100. .
Foreign travel:
U.S. citizens: Arrivals
thous.. *9, 068
Departures.
..
do
i 8, 312
Aliens' Arrivals
do
6,193
Departures
~
do
4,310
Passports issued
National parks visitsif
do
do
20.42
64
130
20.39
'70
143
20.25
65
130
20.93
70
128
20.71
66
135
21.09
73
132
21.04
63
123
20.36
46
129
20.35
56
107
21.86
63
124
21.54
66
153
22.48
68
138
9,211
8,758
5,750
4,905
790
941
474
418
993
1,020
615
480
1,172
870
663
628
761
741
512
470
751
653
495
425
630
573
416
381
594
609
473
414
620
584
475
387
601
587
399
310
720
679
469
366
767
721
461
373
2,728
64, 087
2,729
55,406
306
7,618
255
10, 030
213
10, 296
152
5,616
148
4, 159
132
2,256
108
1,493
168
1,308
185
1,450
245
1,992
23, 079
11, 261
8,984
14, 869
4,032
117.3
26, 030
12, 430
10, 371
16, 536
4,710
123.3
46,447
4 3, 074
4 2, 570
4 4, 032
4 1, 183
4 120. 2
4 6, 563
4 3, 120
4 2, 621
44 4, 186
1, 195
4
121.9
6,807
3,250
2,714
4,390
1,223
123.3
431.8
349.8
55.1
454.8
373.0
53.7
113.7
93.4
15.7
114.5
95.3
11.7
115.8
93.9
14.3
63.8
44.2
16.2
66.0
45.8
17.0
70.6
49.4
17.2
22.87
69
165
22.30
70
153
287
2,850
298
4,146
280
6,778
261
116.2
92.8
15.6
340.3
331.2
36.4
341.2
332.4
72.6
49.7
19.2
324.3
316.7
3
6.3
325.2
316.5
394
1,877
70
1,520
93
^333
COMMUNICATION (QTRLY.)
Telephone carriers (63 carriers except as noted) :
Operating revenues 9
mil. $
Station revenues
do
Tolls, message
do
Operating expenses (excluding taxes).
do
Net operating income (after taxes)
do
Phones in service, end of period
mil..
Telegraph carriers:
Domestic:
Operating revenues. .
mil. $
Operating expenses
do
Net operating revenues (before taxes).. .do
International:
Operating revenues
do
Operating expenses
do
Net operating revenues (before taxes)
do
226.0
163.7
49.4
261.6
182.9
64.7
36.1
3 7.1
CHEMICALS AND ALLIED PRODUCTS
CHEMICALS
Inorganic Chemicals
Production:
Aluminum sulfate, commercial (17% Al 2 Os)}
44
331
96
88 9
204
45
398
86
894
191
44
300
92
878
205
47
271
90
815
193
42
265
90
877
192
47
9
83
102
880
190
'38
335
106
897
203
38
332
8689
6
108
913
64
138
913
67
113
924
60
105
903
57
101
831
60
99
906
61
117
903
68
123
918
70
121
76
67
70
61
71
65
71
67
71
68
69
65
69
63
76
71
73
72
78
74
799
3 756
851
3 801
829
3 890
893
3 903
864
3 876
843
3 927
805
3 897
773
3 799
885
3 809
'855
3 868
880
3,764
1 254
1 254
568
192
608
164
540
2 797
1 333
569
198
587
151
536
2 527
1 361
5619
219
66
164
552
2 605
1 299
573
152
631
170
537
2 663
1 323
613
156
644
167
559
2 748
1 158
557
201
687
153
532
2 607
1 191
573
214
677
147
530
2 478
1 476 ' 1 442 1,331
r 671
646
675
177
184
154
727
'736
747
206
'193
189
590
'577
586
2 628 ' 2 688 2 838
349
220
1 785
88
1 295
184
430
363
335
1 798
95
1 976
195
431
340
415
1 639
92
1 1159
19
471
304
592
1 764
69
1 362
120
449
322
577
1 678
100
1 233
130
481
332
492
1 698
87
1 221
122
419
308
568
1 896
126
1 334
184
463
298
567
1 774
75
1 308
120
459
285
675
1 314
48
1 030
100
15
11
261
0
11
12
295
0
H9
1 256
9 873
2 302
556
4 310
1 137
10 303
2 388
525
3 838
88
838
196
42
297
875
191
42
i 9 586
661
1 327
10 679
727
1 422
870
60
110
1 033
718
914
772
l g 240
i 10 021
3 927
866
210
41
338
79
835
188
37
261
108
889
904
60
12°
895
58
112
76
63
79
61
839
3 805
1 324
15 466
15 193
Ammonium nitrate original solution!
do
592
6 952
6 881
Ammonium sulfate}
do
142
1 858
1 983
Nitric acid (100% HNOs)}"
do
622
7 439
7 981
Nitrogen solutions (100% N)"f ""
"do
1 593 i i 972
206
Phosphoric acid (100% P 2 Os)}
do
525
6 531
6 493
01 790
Sulfuric acid (100% H 2 SO4)}
"
do
31 184
2 COC
Superphosphate and other phosphatYc" fertilizers"
(100%P205):
AA.P.
Production
thous sh tons
5 489
5 C7Q
r 332
Stocks, end of period
do
433
298
Potash, deliveries (K2o")
do.
4,9139
308
5,902
Exports, total 9
do
9Q 128
19 61
1 540
Nitrogenous materials.. . .
do
1 123
68
1 044
Phosphate materials
do
14 953
1 109
14 895
Potash materials . .
do
1 353
146
1 579
Imports:
Ammonium nitrate
do
25
378
338
Ammonium sulfate
do
264
12
299
Potassium chloride
do
4 855
305
5 899
Sodium nitrate
do
111
69
9
r
Revised.
v Preliminary.
I
Annual total; revisions not distributed to the monthly or quarterly data,
months ending in month shown.
3 For month shown.
4 For 66 carriers.
II Data include visits to Voyageurs National Park effective July 1973.
Chlorine gas (100% C12)}
do
Hydrochloric acid (100% HC1)}
do
Phosphorus elemental}
do
Sodium carbonate (soda ash) synthetic (58^
Na 2 O)4
' thous. sh. tons..
Sodium hydroxide (100% NaOII)}
do
Sodium silicate anhydrous}
do
Sodium sulfate anhydrous}
do
Sodium trypolyphosphate (166% NasPsOio)}
do
Titanium dioxide (composite and pure)} do
Sulfur, native (Frasch) and recovered:
Production cf
thous Ig tons
Stocks (producers') end of periodcf1
do
3 796
Q04.
9QS
Inorganic Fertilizer Materials
Production:
Ammonia, synthetic anhydrous}
ECO
170
611
156
531
2 635
A. A. A.
2
For six
473
'238
740
1,731
54
1,414
80
482
274
587
1,237
62
985
87
18
48
50
27
21
16
24
27
31
13
9
17
20
23
44
25
20
23
29
3
26
466
816
795
752
626
610
669
385
601
489
10
20
13
10
3
5
12
16
3
3
9 Includes data not shown separately.
} Monthly revisions back to 1971 are available upon request.
cfln the footnote of the 1973 BUSINESS STATISTICS a distinction is made between gross
weight" and "sulfur content." However, because the difference is so minute, the Bureau of
Mines no longer makes this distinction.
SUEVEY OF CURRENT BUSINESS
S-26
1972
Unless otherwise stated in footnotes below, data
through 1972 and descriptive notes are as shown
in the 1973 edition of BUSINESS STATISTICS
1973
1973
June
Annual
August 1974
July
Aug.
Sept.
1974
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
CHEMICALS AND ALLIED PRODUCTS—Continued
CHEMICALS— Continued
Industrial Gasest
Production:
Acetylene..
mil. cu. ft.. 11,568
Carbon dioxide, liquid, gas, and solid
thous. sh. tons..
1,481
Hydrogen (high and low purity)
mil. cu. ft_. 58, 890
Nitrogen (high and low purity)
._. .do _. 193,540
353, 190
Oxygen (high and low purity)
do
Organic Chemicals d"
Production:
Acetylsalicylic acid (aspirin) .
mil. Ib . . 134.6
Creosote oil ©
- mil. gal . 1 119.1
Ethyl acetate (85%)
mil. lb.. 1 217. 2
Formaldehyde (37% HCHO)
do_._. 5,500.0
Glycerin refined, all grades .
..do
353.0
Methanol, synthetic. .
.. ... . mil. gal. . 11 897. 0
936. 0
Phthalic anhydride
- mil. Ib .
ALCOHOL*
Ethyl alcohol and spirits:
Production
mil. tax gal_.
621.3
Used for denaturation.
..
do
453.0
Taxable withdrawals...
_.
..do
82.5
Stocks, end of period.
_.
. .do...
76.9
Denatured alcohol:
Production
mil. wine gal. . 245.9
Consumption (withdrawals) .
_.
do.
246.7
2.1
Stocks end of period
do
8,370
633
627
650
622
653
663
665
626
631
1,380
61, 653
225, 557
383, 997
120
4,655
18, 601
31, 273
126
4,948
19, 221
32, 328
136
5,654
19,484
31,667
116
5,482
19, 203
31, 959
131
5,909
19, 953
34, 092
116
5,647
19, 215
33,035
114
5,801
19, 733
33, 329
109
5,719
20, 043
32, 684
103
5,699
18,126
30,062
32.2
i 110. 6
i 219. 1
16,173.6
359.1
11,072.0
11,026.9
3.0
8.7
18.7
524.5
30.0
94.3
87.3
2.5
8.5
15.0
506.9
29.9
85.6
80.1
2.4
9.1
21.3
525.1
31.5
94.5
92.2
2.4
8.4
18.5
503.2
27.6
90.8
85.2
3.0
8.8
15.6
543.8
29.9
83.9
81.3
2.8
8.5
13.1
516.7
30.2
95.3
82.3
2.6
10.2
15.1
534.7
30.3
88.1
95.6
2.6
8.5
16.4
515.7
30.8
78.6
86.5
2.5
89
16.4
510.3
28.8
78.5
78.2
692.0
467.9
72.9
100.9
55.9
37.8
6.4
89.6
54.2
34.3
5.6
94.3
57.4
39.8
6.2
90.9
59.9
38.0
5.8
81.1
62.7
41.8
7.0
82.2
62.2
44.4
6.9
84.9
56.4
36.2
5.6
100.9
49.9
35.4
6.3
79.7
253.4
253.6
2.5
20.3
20.2
2.9
18.9
19.1
2.8
22.1
22.1
2.7
20.3
20.3
2.8
22.5
22.7
2.5
23.8
23.6
2.8
19.5
19.7
2.5
1
mil. Ib . 1 1,680.1 11,912.3
7,629.4 i 8,451.1
do.
i 1,732.3 12,152.5
..do
1
i 4,896.3
4,602.0
do
1
4, 288.9 14,423.4
do
169.4
682.2
169.5
420.5
358.7
149.7
699.7
183.5
411.6
354.1
147.1
696.9
185.7
410.0
349.8
161.3
686.1
186.1
395.8
365.9
165.7
784.6
188.4
362.8
374.9
143.0
710.4
184.6
370.9
367.9
145.2
742.5
194.7
388.3
377.2
279.4
163.6
115.8
301.7
171.3
130.4
272.5
140.3
132.2
274.3
137.6
136.7
240.0
114.6
125.4
628
r
638
626
121
123
5,956 •• 5, 882
20 238 rr!9 148
33, 382 32, 718
136
5,999
20 134
33, 142
31
10 7
15 9
538.3
30 8
83.2
85 1
32
11 3
15 4
576.7
3^ 2
101 9
87 5
2 8
9 9
12 0
533.7
r
31 2
89.7
87 7
49.9
38.4
5.6
95.4
45.3
37.4
6.9
87.8
55.5
41.8
6.5
85.9
52.8
44.4
6.0
90.7
22.6
23.0
2.8
20.8
20.7
2.9
21.5
21.1
32
29 7
23.5
2.4
24.6
24.6
2.4
143.4
719.2
176.6
390.5
377.5
153.6
692.4
178.0
382.1
374.1
145.9
730.8
194.3
441.6
402.1
243.8
115.0
128.8
246.3
121.3
125.0
279.5 r 315. 9
139.1 •• 163. 8
140.4 r 152. 1
28
10 2
12 3
539.7
25 5
82 6
90 4
PLASTICS AND RESIN MATERIALS
Production:
Phenolic resins
Polyethylene and copolymers
Polypropylene
..
Polystyrene and copolymers
Poly vinyl chloride and copolymers
.
159.5 ' 143. 5
723.3
727.5
187.6
165.8
430.1 ' 453. 1
400.4 r 401. 4
136.5
715.2
191.0
459.2
392.9
MISCELLANEOUS PRODUCTS
Explosives (industrial), shipments, quarterly
mil Ib
Paints, varnish, and lacquer, factory shipments:
Total shipments
mil. $..
Trade products
do
Industrial finishes
do
2 108 7
2, 083. 7
528.5
3, 009. 2
1, 659. 3
1, 349. 8
3,152. 0
1,673.9
1,478.1
297.5
166.3
131.2
551.2
527.9
197.8
91.8
106.0
489.2
579 2
345.1
182.2
162.9
ELECTRIC POWER AND GAS
ELECTRIC POWER
Production (utility and industrial), total
mil kw -hr
Electric utilities, total
By fuels
By waterpower
Privately and municipally owned util
Other producers (publicly owned) Industrial establishments, total
By fuels
By waterpower
1 853,390
947 079 167, 393 181, 085 184, 103 164, 242 159, 194 149 394 161 772 160, 720 149, 413 156 519 145 697
do
do
do
,747,323 ,848,539 158, 812 172, 539 175, 928 156, 304 153, 888 140, 785 153, 276 152, 226 141,723 148, 046 137, 586
1 474 589 576 770 135 056 150, 099 154, 847 139, 101 135, 620 121,734 127 047 127,917 115,556 120 656 110 048
272, 734 271, 768 23, 757 22, 440 21,081 17, 203 18, 268 19, 051 26, 229 24, 309 26, 167 27, 390 27, 538
do
do
1,435,599 1,522,995 131, 667 143, 343 146, 682 131,044 128, 530 115,947 124, 023 126, 442 113,947 119 281 115 248
301, 724 325, 543 27, 145 29, 197 29, 245 25, 260 25, 358 24, 838 29, 253 25, 784 27, 776 28, 765 22, 338
do
do
do
106,067
102, 678
3,389
98, 540
94, 978
3,562
8,580
8,259
321
8,546
8,270
276
8,175
7,910
265
7,938
7,694
244
5,305
5,064
242
8 608
8,322
286
8 496
8,186
310
8,494
8,173
321
7,690
7,394
296
8 473
8,154
319
8 111
7,792
319
Sales to ultimate customers, total (Edison Electric
Institute)
mil. kw.-hr 1,577,714 1, 703, 203 139, 014 149,064 154. 594 154, 877 145, 715 138, 889 137, 882 143, 201 137, 340 136, 116 134, 088 133, 383
Commercial and industrial:
361, 859 396, 903 33, 745 36, 733 37,704 37, 452 34, 146 32, 180 30 822 31,271 30, 295 30 049 29 819 30, 534
Small light and power§
do
639, 467 687, 235 57,542 57,091 59, 023 59, 514 60,779 58, 910 56, 482 55, 695 55, 022 55, 786 56, 502 57, 297
Large light and power §
do
Railways and railroads
Residential or domestic
do
do
4,440
611, 423
4,186
554, 171
330
42, 451
324
49, 781
335
52, 341
328
52,308
339
45, 285
346
42, 308
371
45, 198
375
50, 794
367
46, 797
356
45, 080
345
42, 568
334
40, 333
Street and highway lighting
Other public authorities
Interdepartmental
do
do
do
12, 193
43 190
5 142
12,836
42 340
5,532
951
3 501
494
966
3,687
482
1,002
3,712
477
1,047
3 735
495
1,119
3 567
480
1,177
3 494
474
1,219
3 325
464
1 234
3 377
456
1,139
3 277
444
1,119
3 245
482
1,067
3 306
481
1,015
3 367
503
Revenue from sales to ultimate customers (Edison
Electric Institute)
mil % 27 921. 1 31, 662. 9 2 592 6 2, 800. 9 2, 891. 1 2, 944. 0 2 758.7 2 644 7 2,679 3 2 829 6 2 817.6 2, 870. 4 2 919 1 3,011.6
GAS
Total utility gas, Quarterly
(American Gas Association):
Customers end of period total
Residential
Commercial
Industrial
Other
Sales to customers total
Residential
Commercial
Industrial
..
Other
thous
do
do
do
do
43 370
39, 776
3,330
216
49
44 268
40 628
3,380
214
46
43 451
39 902
3,290
213
46
43,464
39, 948
3,261
200
55
44 268
40 628
3 380
214
46
44 467
40 760
3,412
209
86
tril Btu
do
do
do
do
17 110
5,148
2,280
8,798
883
16 276
4 965
2,298
8,164
849
3 930
1 088
508
2,128
205
3,160
464
286
2,163
247
3,872
1,169
559
1,963
181
5 136
2 137
939
1,905
155
Revenue from sales to customers, total
mil. $
12, 488
12, 976
3 039
Residential
do
6,105
6 231 1 415
Commercial...
do
2 196
2,066
491
Industrial
do
3,854
4,078
1,017
Other
do
471
115
463
r
l
• Revised.
jxeviseu.
Reported annual total; revisions are not distributed to the monthly data.
§ Data are not wholly comparable on a year to year basis because of changes from one
assification to another.
cfData are reported on the basis of 100 percent content of the
3,248
2,135
5,035
734
1 544
2 671
548
270
963
1,035
1,073
1 229
96
171
83
specified material unless otherwise indicated.
t Monthly revisions back to 1971 are available upon request.
©In the 1973 BUSINESS STATISTICS the unit reads "millions of
gallons"; it should read "thousands of gallons."
SURVEY OF CURRENT BUSINESS
August 1974
Unless otherwise stated in footnotes below, data
through 1972 and descriptive notes are as shown
in the 1973 edition of BUSINESS STATISTICS
1972
1973
1973
June
Annual
S-27
July
Aug.
Sept.
1974
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
12.19
10.97
13.17
10.98
9.87
13.56
13.05
11.82
13.92
13.09
11.74
14.32
14.71
13.76
14.31
June
July
FOOD AND KINDRED PRODUCTS; TOBACCO
ALCOHOLIC BEVERAGES 9
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. .
Rectified spirits and wines, production, total
mil. proof gal__
Whisky
.
do
Wines and distilling materials:
Effervescent wines:
Production
__mil. wine gal_.
Taxable withdrawals - - do
Stocks end of period
do
Imports
do
Still wines:
Production
- - - do
Taxable withdrawals
do
Stocks end of period
..do.. Imports
- do
Distilling materials produced at wineries._-do
141.34
131. 81
12.44
148.60
138.45
12.76
183.79
13.09
12.55
14.20
13.76
12.77
14.30
14.17
13.68
13.81
12.12
11.50
13.58
12.38
11.54
13.52
10.90
10.72
12.93
10.65
10.08
12.76
183.22
17.49
9.66
11.77
13.20
16.09
15.72
15.42
16.02
13.83
14.90
14.62
16.92
i 393.42 i 404.36
209.99
200.44
971. 71 939. 70
107. 28
100.16
33.65
17,39
971. 05
8.17
29.64
14.22
965.20
7.12
32.29
18.04
959. 75
7.73
29.48
17.03
954.16
8.20
36.09
23.96
930. 87
11.36
41.06
21.14
940. 43
13.69
47.13
15.90
939. 70
11.20
29.36
17.76
937. 26
7.32
27.86
15.34
935. 98
7.67
34.64
19.66
931. 30
9.93
34.47
17.43
929.00
10 24
19.61
925. 96
8 09
y 33
116. 56
130. 10
924. 41
87.69
108.38
133.63
893.00
92.30
10.78
10.44
926. 11
6.98
5.34
8.86
922. 29
6.07
6.61
10.62
917. 57
6.68
6.95
11.05
912. 87
7.08
6.77
16.68
888.11
9.75
7.93
14.32
895.00
11.98
7.54
9.59
893.00
9.66
8.63
10.82
889. 61
6.27
8.16
9.43
888.16
6.42
8.32
13.06
883.30
8.54
8.82
10.87
880.99
8.81
9.51
11.67
878 43
6.69
7 77
120.30
62.60
114. 16
53.14
9.70
4.62
7.60
3.48
0.74
4.49
9.47
4.43
12.41
6.52
10.31
4.66
8.51
3.46
10.26
4.10
8.46
3.71
10.58
5.32
9.75
4.44
9.09
3.71
21.13
20.36
8.08
1.98
20.50
18.97
8.48
2 02
.85
1.58
9.17
.14
1.26
.90
9.45
.14
1.73
1.15
9.95
.12
1.99
1.56
10.29
.10
2.36
2.81
9.76
.20
2.35
2.67
9.33
.27
1.56
2.25
8.48
.24
1.86
1.26
8.89
.13
1.46
1.01
9.24
.10
1.82
1.34
9.68
.14
1.00
.95
9.63
12
1.58
1 34
9 80
12
301. 16
269.58
350.88
45.07
437 46
273. 12
422. 37
53 15
8.83
22.60
236. 95
4.93
8.42
18.19
221. 03
4.86
18.80
21.80
214. 87
4.26
89.49
20.00
275.43
3.97
146. 64
26.66
386.66
4.35
86.32
24.64
437. 96
4.90
23.69
22.59
422. 37
4.17
12.98
24.88
406.51
3.93
8.63
19.72
388.76
2.07
13.84
26.39
370. 21
3 66
5 41
22.44
350. 83
4 78
261.10
378. 67
4.18
1.32
30.24
136.45
138. 23
35.69
18.78
3.94
4.80
2.20
4.96
7.80
87.1
150.2
619
67.7
143.8
.639
56.6
113.2
51.1
94.3
63.4
67.5
.807
60.3
54.3
.770
69.5
46.4
.744
80.6
51.5
708
69.0
50.2
653
77.4
58.7
698
88 1
80 0
99 8
97 7
RQQ
fi91
91 8
120 0
R1 B
266.7
175.4
236.7
153.4
216.2
136.3
187.4
113.3
202.7
122.2
205.4
123.5
233.7
141.0
240.1
153.1
232.2
153.6
270.7
181 0
269.1
177 6
276.7
185 4
276.2
184 3
7
23
330
4
18
08
16
02
37
4 41
DAIRY PRODUCTS
Butter, creamery:
Production (factory)
. . .. __mil. lb_. 1,101.9 4 918. 6
107.5
Stocks, cold storage, end of period
do
46.4
2 689
696
Price wholesale 92-score ( N Y )
$ per Ib
Cheese:
Production (factory), total
.mil. lb_. 42,604.6 4 2,685.4
1,644.3 1,672. 5
American, whole milk
do
Stocks, cold storage, end of period
do
American, whole milk
do
Imports
- - do
Price, wholesale, American, single daisies (Chicago)
-.$ per lb_.
Condensed and evaporated milk:
Production case goodscT
mil. lb.
Stocks, manufacturers', case goods, end of month
or yearcf
mil. Ib
Exports:
Condensed (sweetened)
do _
Evaporated (unsweetened).
_ do
Fluid milk:
Production on farms.
.
.
..do -.
Utilization in mfd. dairy products
do
Price, wholesale, U.S. average 9
$ per 1001b,_
Dry milk:
Production:
Dry whole milk
mil Ib
Nonfat dry milk (human food)
do
Stocks, manufacturers', end of period:
Dry whole milk
do
Nonfat dry milk (human food)
do
Exports:
Dry whole milk
do
Nonfat dry milk (human food)
do
Price, manufacturers' average selling, nonfat dry
331.4
269.4
179.4
357.8
290.3
3232 0
374.2
307.5
20.2
392.9
320.2
31.2
395.5
320.6
14.5
382.3
310.5
13.0
371.0
301.1
28.9
356.0
290.0
29.2
357.8
290.3
29.9
364.2
297.6
37.1
391.7
327.0
54.7
438.0
362 6
56 6
489.9
412 9
18 9
530.0
452 5
17 4
561.1
478 8
12 6
.714
.843
.802
.801
.847
.898
.944
.971
1.020
1.050
1.040
1.060
1.050
.979
.892
1, 102.2
115.5
100.6
96.9
80.2
80.2
72.4
88.3
81.6
77.7
92 4
90 6
100 0
102 6
74.7
69 2
114.1
133.6
67.1
95.6
89.4
75.2
69.2
54.5
57.5
62 9
76 7
110 0
127 4
14.4
40.5
1.0
41.4
.2
3.0
.1
3.0
.1
4.6
.1
1.9
(6)
3.8
(fi)
2.5
(6)
3.4
(8)
3.2
.1
3.9
1
36
1
* 119,904
* 60,
931
4
6. 07
115, 620
57,563
••7.14
10,570
5,885
6.40
10,042
5,229
'6.57
9,466
4,753
-•7.19
8,888
3,973
"7.87
8,939
4,086
'8.32
8,609
3,870
'8.66
9,024
4,219
'8.80
9,278
4,719
8.89
8,711
4,540
8.92
*75.2
1,223.5
78.0
4 916 9
9.3
115.8
5.5
86.2
5.6
65.0
5.3
49.5
4.9
64.4
4.5
44.0
5.7
58.2
5.7
58.4
3.4
37.9
5.4
74 5
9.0
102.2
9.6
100.7
8.2
93.3
7.3
84.7
7.6
78.1
7.0
63.5
5.4
74.5
38.3
164.1
49.7
10.4
6.2
1.5
3.8
.2
3.7
.2
6.9
.7
1.5
.2
4.3
.5
331
464
449
461
484
500
518
31 ygQ 3 3 0 896 2
282 7
262 9
310 1
267 6
237 0
* 1,183. 3
40
2 4
3
52
9 933
5? 299
8.94
10091
5 ?566
8.85
10 791
6 071
8.25
10 505
5 984
' 7.65
6.1
56 0
6.5
75.3
10.9
95.0
9.7
121.2
8.4
129.0
5.9
58.6
7.5
53.7
8.2
58.8
10.0
87.0
11.0
141.9
13.0
183.4
2.4
.4
2.0
.5
2.6
.5
4.1
.4
5.1
.3
4.6
.7
4.1
.4
522
531
540
578
.623
.670
.621
.574
251 5
217 8
202 0
181 7
198 4
184.4
200.8
188.7
58
9.3
321.6
208 5
113 1
7.5
8.2
2.60
2.60
2.52
2.49
2.51
2.51
2.71
2.69
(6\
10 059
"7.55
GRAIN AND GRAIN PRODUCTS
Barley:
Production (crop estimate)
Stocks (domestic) end of period
O n farms
On* farms
Exports including malt§
Prices, wholesale (Minneapolis):
No. 2, malting
No. 3, straight
Corn:
do
do
do
do
do
$ per bu
do
« 423 5
361 8
246 2
115 6
60.6
o 424 5
321 6 7 162 5
208 5 77 88 8
73 8
113 1
7 6
94 6
9.8
8.8
423.7
286 1
137.6
11.9
1.23
1.23
1.72
1.69
1.79
1.80
2.47
2.44
2.62
2.60
2.02
2 00
6
5 573 e 5 643
4 831
Stocks (domestic) end of period total
do
4 469 r i 937
3 689
On farmsdo
3 353 •• 1 373
1 141
564
Off farms
do
1 116
138.0
124.3
886.2 1 312 3 136 6
Exports including meal and
flour
do
Prices, wholesale:
2.98
2.59
2.43
No. 3. yellow (Chicago)
$ per bu_.
1.30
2.19
Weighted avg., selected markets, all grades
2.70
1.26
2.30
2.33
2.12
do....
Oats:
8 692
Production (crop estimate)
mil bu
• 664
Stocks (domestic) end of period total
do
776
634 r 77 410
On farms
do
556
473 ' 7 229
Off farms
do
161
181
220
25 2
57
Exports including oatmeal
do
58
69
54 3
Price, wholesale, No. 2, white (Chicago)
8
$ oer bu._
.85
•1.17
T
Revised.
*• Preliminary.
' Includes Hawaii; no monthly data available for Hawaii.
2
Average for Jan., Feb., Apr.-July,
Oct.-Dec.
3 Annual total reflects revisions not
4
distributed 6to the months.
Revised monthly
data back to 1971 are available
upon
6
7
request.
Less than 50 thousand pounds.
Crop estimate for the year.
Previous
year's crop; new crop not reported until beginning of new crop year (July for barley and
7
7
7
7
'215.8
122.0
'93.8
3.9
6.0
5.8
8.3
119. 8
55. 4
64. 5
2.7
3.17
2.95
3.45
3.41
2.85
2.77
2.77
2,, 76
3.09
3.03
10 349. 8
7
7
3.37
3.27
709
405
304
112.4
92.3
112.5
4 469
3 353
1 116
112.7
108.1
99.7
2,858
2,008
850
128.0
117.1
124.3
1,442
1,061
381
116.5
2.39
2.34
2.53
2.67
2.92
3.10
3.01
2.69
2.73
2.96
3.16
2.40
2.35
2.39
2.58
2.58
3.02
2.95
2.64
'2.61
'2.80
3.27
56
634
473
161
48
805
606
199
5 2
91
3
.8
435
287
148
.5
7
7
7
3.8
8.8
255
151
105
8.0
10684
1.33
1.52
8
9
oats; Oct.10 for corn).
Average for July-Sept., and Dec.
Average for April, May, and
Dec.
July 1 estimate for 1974 crop.
d* Condensed milk included with evaporated to
avoid disclosing operations of individual firms.
§ Excludes pearl barley.
9 Scattered
monthly revisions for 1972 will be shown later.
SURVEY OF CURRENT BUSINESS
S-28
Unless otherwise stated in footnotes below, data
through 1972 and descriptive notes are as shown
In the 1973 edition of BUSINESS STATISTICS
1973
1973
1972
August 1974
Annual
June
July
1974
Sept.
Aug.
Oct.
Nov.
Jan.
Dec.
Mar.
Feb.
May
Apr.
June
July
FOOD AND KINDRED PRODUCTS; TOBACCO—Continued
GRAIN AND GRAIN PRODUCTS-Con.
Rice:
Production (crop estimate)
mil. bags 9.Californla mills:
Receipts domestic rough
mil. Ib
Shipments from mills milled rice
do
Stocks, rough and cleaned (cleaned basis), end
of period
mil Ib
Southern States mills (Ark., La., Tenn., Tex.):
Receipts, rough, from producers
mil. lb._
Shipments from mills milled rice
do
Stocks, domestic, rough and cleaned (cleaned
basis) end of period
mil Ib
Exports
do
Price, wholesale, No. 2, medium grain (Southwest Louisiana)
$ per lb. .
Rye:
Production (crop estimate)
mil. bu
Stocks (domestic), end of period
do
Price, wholesale, No. 2 ( Minneapolis). .$ per bu_.
Wheat:
Production (crop estimate), total
Spring wheat
_
Winter wheat
Distribution
mil. b u _ _
do
do
do
185.4
192.8
1,774
1,266
2,151
1,591
120
83
93
47
78
80
18
48
274
112
241
115
251
252
236
150
175
148
113
73
135
87
172
149
164
111
86
109
61
77
52
8
144
194
109
114
88
92
99
70
80
7,472
5,133
6,021
4,226
41
227
37
259
645
233
1,294
346
2,263
516
809
545
340
366
326
476
327
406
174
331
133
281
73
237
115
345
1,967
4,447
1,816
3,583
499
159
240
204
435
132
951
215
1,922
253
1,925
402
1,816
405
1,565
368
1,386
265
1,187
287
993
404
824
233
570
312
.098
.180
.153
.153
.163
.185
.213
.295
.300
.300
.300
.300
.300
.300
.250
i 29.2
54.0
1.07
i 26.4
21.5
1.82
233.3
1.35
1.52
2.23
36.9
2.92
2.70
2.46
21.5
2.69
3.42
3.43
17.9
3.13
2.38
2.12
2 11.0
2.66
i 1, 545
1360
i 1, 185
1,695
11,711
1442
1 1, 270
2,176
r
.250
522.0
3.10
5 1, 925
5522
5 1, 403
489
701
514
386
305
1,449
614
835
936
368
568
'551
184
366
2249
Stocks (domestic), end of period, total
On farms
0 ff farms
do
do
do
1,399
510
889
936
368
568
••2438
' 2 134
2305
Exports total including
Whest only
do
do
3 817. 0
3 778. 5
1, 403. 5
1, 372. 1
128.4
126.1
118.4
115.2
152.8
149.1
135.3
131.6
123.2
122.1
121.9
120.5
91.6
89.5
85.2
83.1
75.2
72.8
66.0
63.9
57.6
55.7
57.2
55.0
58.9
56.9
1.86
1.86
3.43
3.58
2.75
2.79
3.06
2.84
4.49
4.71
4.84
5.09
4.50
4.72
4.50
4.78
4.98
5.23
5.47
5.70
5.88
5.78
5.50
5.25
4.45
4.19
4.29
'3.67
5.02
4.30
5.42
4.46
1.87
3.64
2.77
3.22
4.92
5.34
4.87
4.91
5.38
5.96
6.27
5.93
4.75
'4.59
'5.14
5.48
249, 265
4,303
555, 269
19,771
342
43, 765
20,068
348
44,681
21,893
380
48, 889
21, 589
373
48, 111
21, 982
385
49, 258
20, 657
359
46, 272
20, 972
356
46, 912
21, 993
383
48, 882
20, 141
350
45, 015
20, 760 r 18,486
326
364
46, 063 Ml, 365
18,925
332
42, 217
18, 525
328
41, 494
5,505
13, 456
5,393
993
1,352
1,596
4 174
1,607
483
612
5 505
912
914
1,015
5 297
904
832
957
3,748
858
8.734
8.454
7.875
7.738
7.738
7.538
10. 280
9.388
10.600
10. 463
9.913
9.863
10. 225
10. 113
11. 525
11. 075
12. 975
12. 913
13. 313
13. 150
12.700
12.490
10.188
9.738
9.838
9.188
10.963
9.688
2,421
32, 267
1,808
30, 521
117
2,563
118
2,441
115
2,366
128
2,362
168
2,866
170
2,687
156
2,519
181
2,793
155
2,303
180
2,621
172
2,643
167
2,793
137
2,621
35.49
38.89
46.88
43.52
49.13
57.19
46.66
49.38
61.40
47.77
53.23
59.30
53.13
56.40
67.50
45.05
49.73
56.40
41.33
49.84
53.40
39.56
47.63
57.50
38.63
44.42
56.50
47.28
48.70
58.50
45.72
45.30
60.50
41.98
43.65
59.00
40.81
42.49
58.50
39.49
37.24
51. 00
36.62
33.16
45.00
78,759
72, 264
5,711
4,996
5,569
5,348
6,613
6,534
5,859
6,804
5,584
6,568
6, 867
7,077
5,894
26.58
40.10
37.66
45.69
55.28
42.96
41.28
39.89
38.37
39.27
38.39
34.35
29.95
25.43
26.51
34.23
21.0
20.4
18.8
10.7
9.1
11.9
flour
Prices, wholesale:
No. 1, dark northern spring (Minneapolis)
$ per bu._
No. 2, hd. and dk. hd. winter (Kans. City). do
Weighted avg., selected markets, all grades
$per bu..
Wheat flour:
Production :
Flour
thous sacks (100 lb )
250, 441
Offal
thous sh tons
4,303
Qrindings of wheat
thous. bu
557, 801
Stocks held by mills, end of period
4,746
thous. sacks (1001b.)_.
Exports
do
16, 549
Prices, wholesale:
Spring, standard patent (Minneapolis)
6.534
SperlOOlb..
Winter, hard, 95% patent (Kans. City)._do._-.
5.867
291
2158
12. 013
10. 725
LIVESTOCK
Cattle and calves:
Slaughter (federally Inspected):
Calves
thous animals
Cattle
do
Prices, wholesale:
Beef steers (Omaha)
.
SperlOOlb..
Steers, stocker and feeder (Kansas C i t y ) _ _ d o
Calves, vealers (Natl. Stockyards 111.) do
Hogs:
Slaughter (federally inspected). __thous. animals..
Prices:
Wholesale, average, all grades (Sioux City)
$ per 100 lb.
Hog-corn price ratio- (bu. of corn equal in value
to 100 lb. live hog)
Sheep and lambs:
Slaughter (federally Inspected). .-thous. animals.
Prlce, wholesale, lambs, average (Omaha)
$ per 100 lb.
22.3
21.3
18.7
20.3
18.6
16.0
15.5
14.3
13.1
r
12.7
9,905
9,234
111
807
844
789
915
747
612
749
612
772
••782
670
581
30.13
36.69
38.00
39.25
41.50
33.38
31.75
34.75
37.50
38.38
40.38
37.50
39.75
47.25
46.25
35,632
33, 523
2,748,
2,561
2,569
2,551
3,141
3,006
2,812
3,157
2,576
3,029
3,086
3,227
2,889
670
614
2,012
830
759
1,972
675
66
143
588
49
153
505
57
209
525
53
159
643
72
207
770
62
184
830
70
156
864
58
171
864
51
137
960
60
168
1,006
56
142
'1,016
51
126
924
54
124
20, 524
380
54
1,461
19,503
459
81
1,471
1,625
334
8
102
1,566
308
6
116
1,487
262
6
167
1,515
252
5
123
1,850
324
8
161
1,740
403
10
139
1,651
459
9
118
1,823
476
9
128
1,483
460
8
93
1,731
499
7
117
1,727
485
5
99
1,822
'479
4
89
1,717
458
3
94
.577
*.696
.728
.749
.713
.671
.648
.670
.767
.770
.688
.670
.666
.637
515
16
486
15
38
16
42
14
40
13
47
16
39
15
33
15
40
12
34
12
43
14
42
14
35
17
28
17
42.81
34.44
41.80
41.25
MEATS
Total meats:
Production (carcass weight, leaf lard in) , inspected
slaughter i
mil lb
Stocks (excluding lard), cold" storage, end of
period
_
mil lb
Exports (meat and meat preparations)
do
Imports (meat and meat preparations)
do
Beef and veal:
Production, Inspected slaughter J
do...
Stocks, cold storage, end of period
do._.
Exports
do
Imports
do.
Price, wholesale, beef, fresh, steer carcasses, choice
(600-700 Ibs ) (East Coast)
$ per lb
Lamb and mutton:
Production, Inspected slaughter
Stocks, cold storage, end of period
Pork (including lard),
slaughter J
production,
mil. lb
do
inspected
mil lb
42
13
1,040
953
14. 5Q4.
1,086
13, 535
Revised.
i Crop estimate for the year. 2 Previous yea r's crop; n ew crop ]not repor ted
until July (beginning of new crop year).
3 Annual total re fleets revi sions no distribu ted
r
.730
1,144
1,370
994
1,317
1,243
1,226
1,293
1,060
1,255
1,126
5 J U ly 1 estiinate of 1974 crop,
" A ^rerage for Jan.-Ju ly and Sept.-Dec
to the? months .
\ Scattere d month ly revisic ns back to 1971 are availa ble upon request.
9 Ba gs of 100 Ibs.
SURVEY OF CUREENT BUSINESS
August 1974
Unless otherwise stated in footnotes below, data
through 1972 and descriptive notes are as shown
in the 1973 edition of BUSINESS STATISTICS
1973
1973
1972
Annual
S-29
June
July
Aug.
Sept.
1974
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
FOOD AND KINDRED PRODUCTS; TOBACCO—Continued
MEATS— Continued
Pork (excluding lard):
Production, inspected slaughter
mil. lb._
Stocks cold storage, end of period _
do
Exports
- .
do_ __
Imports
do
Prices, wholesale:
Hams, smoked composite
$perlb_.
Fresh loins, 8-14 Ib. average (New York). _do
POULTRY AND EGGS
Poultry:
Slaughter (commercial production)
mil. lb_.
Stocks, cold storage (frozen), end of period, total
mil. lbTurkeys
..
do _.
Price, in Georgia producing area, live broilers
$perlb_.
12,551
214
105
395
11, 879
286
169
398
940
252
14
35
839
201
6
30
924
179
4
34
882
196
6
30
.626
.645
1.810
.818
.745
.730
.794
.883
1.045
1.167
.839
.866
10,883
10,649
909
946
1,025
228
137
290
199
324
208
431
281
355
261
277
g
36
992
286
5
30
1,143
303
5
34
940
307
3
36
1,101
.784
.957
.765
.818
.815
.859
905
1,105
990
847
933
460
351
577
451
466
321
431
281
424
268
1,094
224
14
37
1,074
992
356
9
23
1,166
1,200
405
6
32
r 412
6
30
.752
.720
.706
766
806
832
944
392
243
380
226
382
216
405
227
449
263
351
4
40
909
834
s .476
.692
.134
.241
.235
.300
.370
.330
.215
.185
.180
.200
.230
.210
.195
.195
.175
193.2
184.9
15.1
15.3
15.2
14.8
15.4
15.1
15.8
15.7
14 3
16.0
15 5
15.8
15.1
41
68
34
43
73
46
54
48
62
49
86
53
72
54
67
49
34
43
23
38
42
36
59
39
66
44
86
50
81
55
.380
.610
.582
.651
.769
.700
.646
.678
.728
.750
.695
.621
.542
.445
.446
Cocoa (cacao) beans:
Imports (incl. shells)
thous. Ig. tons..
Price, wholesale, Accra (New York)
$ per Ib..
282.2
.322
248.0
.636
17.0
.674
15.8
.870
9.9
5.4
.790
2.8
.758
.805
11.1
.770
27.6
.651
28.9
.648
21 1
.738
31.7
.830
21.9
1.085
28.0
1.168
23.7
1.015
Coffee (green) :
Inventories (roasters', Importers', dealers'), end
of period
thous. bagscf..
Roastlngs (green weight)
do
3,663
20, 075
4,146
19, 415
4,325
4 784
Imports, total
do
From Brazil
do
Price, wholesale, Santos, No. 4 (N.Y.)..$ per lb._
Confectlonery, manufacturers' sales
mil. $
20, 757
6,152
2,544
1,976
21, 799
4,606
.676
2,141
1,710
1,573
.670
135
.700
114
.700
183
415
459
291
324
4,896
6,700
1,262
4,931
6,551
1,217
168
648
140
11,528
11,415
2,710
11,538
11, 482
2,583
sh tons
778
3 946
thous. sh tons
do
do
5,154
1 246
5 200
3 1 566
Production on farms
mil. casesO.Stocks ,cold storage, end of period:
Shell
thous. cases O
Frozen.
. _ _ mil. Ib
Price, wholesale, large (delivered; Chicago)t
$ per doz..
579
.851
.195
MISCELLANEOUS FOOD PRODUCTS
Fish:
Stocks, cold storage, end of period
mil. lb_.
Sugar (United States):
Deliveries and supply (raw basis) :$
Production and receipts:
Production
thous. sh. tons
Entries from off-shore, total 9do
Hawaii and Puerto Rico
do...
Deliverles, 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
Prices (New York):
Raw, wholesale
$perlb_.
Refined'.
Retail (incl. N.E. New Jersey) ... $ per 5 Ib
Wholesale (excl. excise tax)
$ per lb. .
Tea Imports
thous lb
76
29
4,582
4,275
211
1,731
411
1,399
348
4,146
5 153
1,624
1,624
1,652
5,096
4 597
' 4 940
r 5 103
0
1.070
2,182
2 022
1 868
1 529
.720
211
.710
220
457
'364
.750
241
2 264
.720
180
.755
200
.765
190
.740
459
451
435
427
'417
424
P410
915
356
86
563
663
38
386
474
32
293
432
47
148
534
30
209
665
103
727
105
959
957
867
864
924
921
420
.725
233
489
.723
227
.730
234
336
364
411
453
112
707
103
77
408
92
135
587
138
663
597
127
1,063
1,058
2,291
1,027
1,025
2,040
1,203
1,197
1,454
1,026
1,022
979
1,251
1,902
2,608
2,488
2,509
2 493
2,174
313
239
286
196
299
439
349
587
3 969
6 086
4 168
9 932
418
153
448
262
5
566
215
5
393
285
1
220
24
550
82
6
244
o
500
94
o
554
140
m
509
161
a\
512
180
o
505
114
a\
.270
.275
.319
424
(4)
942
938
o
1,019
581
81
890
888
282
919
918
461
52
(4)
459
(4)
272
166
567
901
899
29
.720
1 040
1,038
2, 034 v 1, 949
f
.091
.103
.103
.102
.108
.109
.112
.111
.112
.122
.155
.195
.195
.228
.704
.123
.775
.133
.767
.127
.775
.132
.779
.137
.803
.137
.821
.141
.840
.150
.860
.128
.868
.143
.896
.161
1 024
.200
1.159
.200
1,253
.248
.285
161, 495
173 314
12 425
13, 660
12 614
12, 627
16 878
16 506
11, 997
11 675
14 974
16 583
17 177
18 122
17 489
262 5
137 3
240.4
120 4
294 7
86 2
261 9
95 2
338 2
97 6
301.1
111 5
290 9
114 6
330 0
104 7
290 1
118 3
305 6
14.fi fl
280 9
156 9
r 269 2
r 130 6
259 8
136 7
352 3
112 2
287 1
72.3
330 4
52.2
288 3
63.8
327 8
62.2
348.8
66.3
329 9
74.1
381 0
76 5
343 8
79 5
372 1
101 1
337 3 r 343 i
r
107. 5
88 6
336 1
114 0
168 3
69 7
151.7
57 4
187.7
47 1
185.7
58 4
224.1
60.2
217.9
59.3
214.8
61 2
248.1
55 3
205 7
63 0
213 4
74 4
194 8
75 2
.327
.327
.348
.367
.373
.381
.381
.415
.429
.455
FATS. OILS, AND RELATED PRODUCTS
Baking or frying fats (incl. shortening) :
Production
mil lb
3 532.5 3 445 2
127 3
Stocks, end of period©
do
114 6
Salad or cooking oils:
3 904. 8 3 927 7
Production
do
Stocks, end of period©
do
85.6
74 1
Margarine:
Production...
do
2, 361. 2 2 357 0
69.3
Stocks, end of period©
do
61 2
Price, wholesale (colored; mfr. to wholesaler or
.313
large retailer; delivered)
$per lb._
.340
Animal and fish fats:
Tallow, edible:
Production (Quantities rendered)
mil lb
Consumption in end products
do
Stocks, end of period i
do
Tallow and grease (except wool), inedible:
Production (quantities rendered)
do
Consumption In end products
do
Stocks, end of neriodl
__do
202. 9
r go 3
174 2
77 0
.455
.462
.462
r 49 6
rr 50 2
32 5
45 5
47 9
32 5
»• 410. 2
0
363. 2
381.0
208 2
420.9
544 8
633 6
45 3
474 7
548 7
40 4
39 6
41 7
22 8
34 9
36 2
22 2
27 1
36 7
20 8
35 8
35 8
18 7
50 9
50 4
25.7
52 7
43.3
37.6
42 7
45 2
40 4
44 0
50 9
52.8
37 0
51 5
33 7
46 9
54 3
37 2
46 1
51 9
33 9
4, 834. 3
2 761 6
346.1
4 335 1
2 540 3
355.6
352 0
206 8
326.2
345.5
191 4
370.3
335.3
199 6
363.5
320.2
197 0
328.4
404.3
229.9
389.1
390.2
208.9
370.1
384.7
197 3
355.6
416.5
234 6
407.7
343 5
202 3
407.9
398.3
224 5
389.8
392 8
222 2
392.9
!
2
••Revised.
^Preliminary.
Average for Jan.-Sept., and Nov.
Average for Apr.June and Aug.-Dec.
3 Reflects revisions not available by months.
* Less than 500
5
sh. tons.
Effective June 1974, specification changed from less than carlot, 10-14 Ibs. to
carlot, 14-17 Ibs.; prices are not comparable with those for earlier periods.
O Cases of 30
dozen.
& Bags of 132.276 lb.
§ Monthly data reflect cumulative revisions for prior
r
r
226
r
.470
periods.
9 Includes data not shown separately; see also note "§".
© Producers' and
warehouse stocks.
\ Factory and warehouse stocks.
fBeginning June 1974 SURVEY,
prices are for cartoned, white, shell eggs to volume buyers, delivered to store door, Chicago
metropolitan area, and are not comparable with those shown previously. Comparable data
back to 1969 are available.
S-30
SURVEY OF CURRENT BUSINESS
1972
Unless otherwise stated in footnotes below, data
through 1972 and descriptive notes are as shown
in the 1973 edition of BUSINESS STATISTICS
1973
1973
Annual
August 1974
June
July
Aug.
Sept.
1974
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
FOOD AND KINDRED PRODUCTS; TOBACCO—Continued
PATS, OILS, AND RELATED
PRODUCTS- Continued
Vegetable oils and related products:
Coconut oil:
Production, refined
mil. Ib
Consumption in end products.
do
Stocks, crude and ref., end of period^
do
Imports
do
Corn oil:
Production: Crude
Refined
_ ._
Consumption in end products
Stocks, crude and ref., end of periodf
824.9
229.1
677.0
593.0
604.1
879.0
105.9
716.9
507.2
464.5
463.7
76.8
529.2
529.5
508.7
45.0
1,355.2
1,133.5
712.0
187.4
475.4
169
1,541.5
1,330.2
864.5
158.0
545.0
3
157
do
do _.
do
do
Cottonseed oil:
Production* Crude
__do_Refined
do
Consumption in end products ._ ._ _do__Stocks, crude and ref., end of period 1f._ do. .
Exports (crude and refined)
do
Price wholesale ( N Y )
$ per Ib
54.0
78.2
166.6
43.7
45.9
44.1
41.7
91.2 .
108.4
99.1
80.5
215.8
55.3
223
44.2
64.7
148.4
41.9
47.5
68.2
140.4
64.1
46.6
73.8
114.3
29.8
51.4
83.3
79.0
46.7
35.2
66.1
102.7
64.8
43.2
62.3
105.9
74.6
42.7
70.1
101 4
24.3
30.2
60.7
90 0
25.3
48.9
62.7
108.5
45.0
39.6
62.7
96.1
48.2
r
32. 4
'53.8
r
89 0
35 3
33 0
52.1
79 9
26 5
45.8
44.1
37.4
92.1
44.3
41.9
45.4
71.9
43.8
42.6
42.6
56.6
45.2
50.7
49.8
54.4
42.4
45.0
44.1
43.4
43.1
48.5
41.2
45.0
45.1
51.0
51.5
42.2
41.8
42.8
38.0
51.5
45.4
39.9
39.9
60.7
46.6
34.2
34.2
73.1
•"46.8
'40.3
"40.2
'82.6
43 9
35.4
35.9
94.0
92.9
76.8
69.5
190.0
39.0
87.8
102.7
66.1
181.6
23.8
56.2
66.6
52.3
114.4
43.2
120.6
89.0
70.2
124.5
22.6
.250
169.8
117.2
75.1
161.6
24.9
.220
149.0
123.3
84.0
158.0
38.2
300
176.9
134.9
84.3
202.4
28.8
320
150 2
118.2
73.4
177.9
79.0
365
160.4
125.5
77.1
198.8
52.3
345
144. 1
129.3
75.8
198. 9
56.3
380
1,638.5 1,651.3
206.3
245.6
1,699.6
211.5
1,606.9
243.4
1,728.8
325.9
797.7
660.3
668.6
623.3
122.2
.287
751.5
589.5
588.6
642.4
120.2
.374
809.0
609.0
634.1
626.0
98.3
.304
Soybean cake and meal:
Production
_
thous. sh. tons.. 16, 993. 1 16,223.5 1, 189. 1 1,009.0 1,078.3
168.1
180.5
245.6
158.5
166.0
Stocks (at oil mills) , end of period.. .
do
948.7
141.8
1,424.9
195.7
Soybean oil:
Production: Crude
mil Ib
Refined
do _.
Consumption in end products
_ ..do
Stocks, crude and ref. end of period 1f__do
Exports (crude and refined)
do
Price wholesale (refined* N Y )
$ per Ib
439.8
502.3
522.7
515.5
45.2
676.8
575.5
616.4
531.5
12.9
.309
8, 083. 7
6,464.0
6, 748. 7
896.5
1,148.7
131
7, 540. 2
6,462.6
6, 724. 9
690.5
874.3
3
206
553.1
514.2
534.3
822.7
90.3
226
470.1
428.9
464.2
748.7
81.5
510.5
538.8
569.3
620.1
37.0
764.9
595.8
619.2
599.9
31.7
.219
769.8
591. 7
578.7
690.5
108.6
.302
r
!40
r
0
l!7. 4
'74.6
' 190. 4
94.2
400
106 8
90 7
57.5
174.8
63 2
395
420
1,590.8 '1,636.4 1, 582. 8
318.1 '391.9
479.7
750.8
569.8
572.8
726.3
146.0
278
' 777. 8
' 575. 8
' 576. 3
765.1
96.9
312
760 6
538.1
556.5
707.3
215.0
309
396
TOBACCO
Leaf:
Production (crop estimate)
mil Ib
Stocks, dealers' and manufacturers', end of period
mil. Ib
Exports incl scrap and stems
thous Ib
Imports, incl. scrap and stems
do
4,409
4,700
606,176 2 612,980
240,509 268,585
4,039
45,321
19,045
40, 122
19,069
Manufactured:
Consumption (withdrawals):
Cigarettes (small):
Tax-exempt
Taxable
Cigars (large) taxable
Exports cigarettes
47 172
551,016
6,896
34,602
4 237
50, 757
483
2,917
4 469
43, 525
403
3,133
millions
do
do
do
1
1,749
fl
9
l 743
58 225
588 019
5,553
41, 543
40, 593
21,650
4,196
64,580
21,565
70, 213
26, 113
4,913
56, 821
506
4,391
4,857
46, 122
442
3,544
5,005
58,502
576
3,814
81,897
23,216
4,409
56,617
25,434
53,510
10, 532
7,897
52, 420
479
4,194
3,832
39, 985
339
2,960
47,633
42,384
4,215
39, 115
21, 805
52,704
23, 013
57,684
20, 421
62, 774
34,506
4,833
53, 261
418
2,889
4,407
48, 910
380
3,730
5,563
48, 003
405
3,637
4 380
46, 092
452
3,791
5 777
52,760
403
5,044
3,761
1,968
LEATHER AND PRODUCTS
HIDES AND SKINS
Exports:
Value, total 9
thous. $.. 292,023
2,064
Calf and kip skins
thous skins
17, 589
Cattle hides. _ _ ... _ _ _ thous. hides
376,999
1,886
16,867
25,441
113
1,266
23,731
117
1,155
24,077
135
1,100
25,636
139
1,229
30,958
138
1,463
29,359
154
1,412
27,892
151
1,391
29, 025
144
1,423
31, 212
169
1,500
31, 751
337
1,462
31, 642
184
1,567
31,910
231
1,554
22, 521
186
1,123
83,900
65,200
16, 852 ' 12, 835
3,355
1,600
7,900
804
52
8,600
1,598
83
6,900
1,157
113
4,600
540
55
4,400
684
27
5,200
562
84
3,800
494
16
4,600
765
65
3,900
791
57
6,800
1,468
40
6,500
1,308
16
8,500
1,839
12
11,000
2,375
74
622
343
.610
.338
.610
.363
.610
.383
.610
.355
.610
.363
.610
.328
.610
.282
.610
.293
.610
.241
.610
.263
.850
.263
.850
.233
1,262
17,768
81
1,150
141
968
122
1,479
103
1,429
105
1,566
122
1,437
110
1,374
129
1,445
136
1,398
147
1,437
1,433
1,498
14,504
124
1,688
248
1,380
1,087
991
1,134
1,104
1,046
1,115
1,122
1,060
' 1, 227
1,286
» 117, 556 2 120,104
10,873
8,154
10,353
9,919
10,184
6,459
9,563
9,984
10,163
10,407
11, 917
16, 191
14, 674
«184.5
166.8
166.8
187.0
179.8
179.8
179.8
179.8
165.4
165.4
165.4
158.2
488,326
41, 513
31,939
43,971
39, 187
45,206
38,573
33,966
38,380
39, 869
42, 015
36,965
41,048
36, 832
377, 719
98,244
10,130
2,233
32,301
8,169
842
201
25,536
5.745
569
89
33,079
9,724
924
244
29,252
8,886
867
182
33, 590
10,411
927
278
28,345
9,107
914
207
27,310
5,756
737
163
31, 116
6,359
780
152
32, 127
6,965
629
148
33, 447
7,731
686
151
28,635
7,499
686
145
31, 672
8,507
692
177
28, 743
7,319
605
165
»2,253
3,599
335
312
357
320
406
370
312
246
321
412
299
290
401
Prices, wholesale, f.o.b. factory:
Men's and boys' oxfords, dress, elk or side
upper, Goodyear welt
index, 1 967 =100. . 128.6
Women's oxfords, elk side upper, Goodyear
welt
index, 1967=100..
125.7
Women's pumps, low-medium quality, .do ... « 127. 0
140.7
140.1
140.1
140.1
140.1
142.6
146.1
146.1
147.4
147.4
152.1
153.9
153.9
155.2
155.2
135.5
121.1
135.5
121.1
135.5
121.1
135.5
121.1
135.5
121.1
135.5
121.1
135.5
121.1
136.8
123.8
136.8
123.8
138.0
123.8
140.5
126.7
143.0
126.7
143.0
126.7
143.0
126.7
Imports:
Value, total 9
Sheep and lamb skins
Goat and kid skins
thous. $..
thous. pieces..
do
Prices, wholesale, f.o.b. shipping point:
Calfskins, packer, heavy, 9H/161b
Hides, steer, heavy, native, over 63 Ib
$perlb_.
do
LEATHER
Production:
Calf and whole kip
thous. skins
Cattle hide and side kip- thous. hides and kips
Goat and kid
thous skins
Sheep and lamb
.
do
Exports:
Upper and lining leather
thous sq ft
Prices, wholesale, f.o.b. tannery:
Sole bends light
index 1967—100
Upper, chrome calf, B and C grades
index, 1967=100..
.663
.296
1,603
20, 084
3,522
20,191
« 157. 5
106.7
7
179.8
.850
.258
158.2
119. 5
LEATHER MANUFACTURES
Shoes and slippers:
Production, total
thous. pairs.. 526,500
Shoes, sandals, and play shoes, except athletic
thous. pairs. . 417,604
Slippers
._
do
98, 272
Athletic
do
8,726
Other footwear
do
2,053
Exports
do
134.2
8 122. 1
' Revised.
i Crop estimate for the year.
> Annual total reflects revisions
not distrib4
uted to the monthly data.
»Average for Jan.-June and Oct.-Dec.
Average for Jan.July and Oct.-Dec.
«Jan.-Aug. average.
6
Jan. -Apr. average. 8 Apr. -Dec. averAverage for Jan.-July and Sept.-Dec.
age.
9 July 1 estimate of 1974 crop.
Factory and warehouse stocks.
9 Includes data for items not shown separately.
SURVEY OF CURRENT BUSINESS
August 1974
Unless otherwise stated in footnotes below, data
through 1972 and descriptive notes are as shown
in the 1973 edition of BUSINESS STATISTICS
1973
1973
1972
June
Annual
S-31
July
Aug.
Sept.
1974
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
LUMBER AND PRODUCTS
LUMBER— ALL TYPES 9
National Forest Products Association:
Production, total
mil. bd. ft_. i 38,254
6,813
Hardwoods
_
do
31,441
Softwoods . do
1 37,890
6,579
31,311
3,207
549
2,658
3,038
580
2,458
3,456
631
2,825
3,250
631
2,618
3,453
682
2,771
3,057
571
2,486
2,710
511
2,199
2,741
468
2,272
2,945
518
2,427
3,191
534
2,657
3,457
570
2,887
3,302
561
2,741
i 39,390
7,231
32, 159
i 37,629
6,680
30,949
3,264
544
2,720
3,044
534
2,511
3,402
582
2,820
3,096
578
2,518
3,312
628
2,683
3,008
593
2,415
2,623
535
2,088
2,647
496
2,151
2,850
529
2,321
3,219
521
2,698
3,377
552
2,825
3,310
537
2,773
4,152
581
3,571
4,413
480
3,933
3,765
152
3,613
3,758
198
3,561
3,813
248
3,565
3,967
301
3,666
4,108
355
3,753
4,157
334
3,824
4,413
480
3,933
4,499
443
4,056
4,596
435
4,161
4,568
448
4,120
4,648
466
4,182
4,627
490
4,137
1,390
9,428
1,959
9,537
174
899
152
823
181
623
204
1,453
192
764
141
780
129
640
163
634
145
547
186
700
188
721
206
815
135
765
9,242
617
8,978
679
813
636
803
726
736
622
715
670
682
632
745
616
666
679
631
701
626
692
790
727
737
688
692
598
659
581
8,983
9,191
735
9,116
8,916
935
792
820
854
682
713
823
814
840
797
722
667
852
769
720
901
760
761
900
638
603
935
644
609
970
691
635
1,026
759
755
1,030
775
776
1,029
761
782
1,008
666
676
998
405
111
294
637
176
462
53
13
40
47
10
37
56
16
40
68
24
44
63
13
60
37
11
26
42
14
28
60
19
41
46
12
34
76
12
63
73
22
51
182
15
167
113
13
100
144. 27
181.86
192. 13
180. 93
180.19
190.27
176. 11
170. 43
170. 26
159. 25
163.06
181. 51
186.18
179. 03
167.63
i 8, 539
435
1
7, 697
405
656
546
609
528
690
550
564
497
576
412
617
441
472
405
571
423
627
507
718
540
607
487
605
462
18,337
i 8, 525
17,847
1
7, 727
649
666
628
627
689
668
644
617
684
661
618
588
557
508
599
553
573
543
670
685
681
660
671
630
Shipments total
Hardwoods
_
Softwoods
do
.do
- - -do
Stocks (gross) mill, end of period, total- _ do _Hardwoods
do
Softwoods
do
Exports, total sawmill products _
Imports total sawmill products
do
do
SOFTWOODS
Douglas fir:
Orders, new
Orders unfilled end of period
mil. bd. ft._
- do
Production.
_.
do
Shipments
- -- _.do
Stocks (gross), mill, end of period
do
Exports, total sawmill products
- ..
Sawed timber
_ ._
Boards, planks, scantlings, etc
do..
do
do
Prices, wholesale:
Dimension, construction, dried, 2" x 4", R. L.
$per M bd. ft..
Southern pine:
Orders, new
Orders, unfilled, end of period
Production
Shipments
.
. mil. bd. ft..
..
do
..
.
do
...do
Stocks (gross), mill and concentration yards, end
of period
- mil. bd. ft
162. 47
1,028
1,148
997
998
1,019
1,046
1,069
1,099
1,148
1,194
1,224
1,209
1,230
1,271
M bd. ft_.
64,456
94, 346
9,580
7,946
9,696
11, 037
8,826
6,365
5,973
7,077
5,675
6,155
10, 575
7,390
Prices, wholesale, (indexes):
Boards, No. 2 and better, 1" x 6", R. L.
1967=100..
Flooring, C and better, F. G., 1" x 4", S. L.d*
1967=100..
154.7
198.2
204.9
201.4
214.1
217.6
217.7
218.8
215.6
210.6
207.4
207.7
212.8
207.8
195.4
192.4
140.8
186.2
200.1
185.9
192.4
211.0
211.0
214.3
214.3
215.4
215.4
220.8
231.8
231.8
232.9
236.2
10, 756
555
10, 452
556
885
551
949
631
957
627
872
592
918
584
748
568
698
556
748
657
803
716
842
688
878
654-
859
557
754
542
10,395
10,563
10, 498
10,451
882
886
857
869
970
961
924
907
937
926
798
764
729
710
651
647
765
744
841
870
938
912
912
956
776
769
1,214
1,261
1,183
1,171
1,180
1,197
1,208
1,242
1,261
1,265
1,276
1,247
1,273
1,229
1,236
130. 91
179. 62
228. 13
197. 73
160.65
155. 33
154. 98
155. 90
168. 99
193. 90
190. 23
204.37
234 .99
231. 32
200.60
268.2
11.6
178.3
5.1
16.2
6.0
13.2
6.3
17.4
5.5
14.9
5.5
15.7
4.8
13.7
5.5
9.3
5.1
14.4
5.1
8.8
3.9
10.5
3.4
9.6
2.6
8.5
2.2
244.8
261. 1
6.6
188.0
184.6
8.2
14.6
15.3
3.2
12.6
11.6
3.6
18.9
18.1
4.4
16.4
15.0
4.5
18.6
16.4
6.1
15.4
13.4
7.7
13.6
10.8
8.2
16.2
14.3
10.1
13.0
9.5
12.6
13.6
11.2
15.0
13.0
9.6
16.7
12.8
8.8
20.8
9.2
2.5
8.9
8.4
20.7
Exports, total sawmill products
Western pine:
Orders, new
mil. bd. ft
Orders, unfilled, end of period— - - - - - - do _
Production . . . .
Shipments
.
__
•__ _ _
_ _ . do
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
5,686
174. 35
HARDWOOD FLOORING
Oak:
Orders, new
Orders, unfilled, end of period
mil bd ft
do
Production
_
Shipments
Stocks (gross), mill, end of period
.
do
do
do
METALS AND MANUFACTURES
IRON AND STEEL
Exports:
Steel mill products
thous. sh. tons..
Scrap
do
Pig iron
do
Imports:
Steel mill products
Scrap - _ . - - _ - - .
Pig iron .
_
.
.
2,873
7,383
15
14,052
11,256
15
323
1,057
2
343
1,130
1
324
1,234
1
281
1,025
3
374
757
1
388
600
1
473
675
2
455
859
3
448
884
2
503
703
13
533
698
31
627
826
18
633
922
3
647
572
17,681
373
653
15,150
391
459
1,229
51
53
1,380
39
45
1,316
36
36
1,075
20
41
1,235
33
24
1,313
21
55
1,092
20
31
827
24
13
830
20
10
892
22
15
971
15
22
1,142
18
60
1,292
18
13
1,293
thous. sh. tons.. i 51, 184
do
41,670
do
93,371
do
8,169
57,301
43, 121
101,462
6,990
4,810
3,668
8,495
7,789
4,539
3,356
7,832
7,878
4,725
3,433
8,107
7,912
4,570
3,357
8,288
7,460
4,948
3,909
8,938
7,321
4,732
3,783
8,542
7,266
4,473
3,515
8,219
6,990
4,724
3,544
8,516
6,730
4,241
3,327
7,673
6,606
'4,785
' 4, 052
•• 8, 703
•• 6, 782
do
do
do
_
Iron and Steel Scrap
Production
Receipts* net
Consumption
Stocks, end of period
P
p
P
p
4,589
4,340
8,525
7,190
Prices, steel scrap, No. 1 heavy melting:
79.60 102. 20 115.40 127.63 94.22 107. 67 124. 48
65.89
77.63 80.48
Composite (5 markets)
$perlg. ton-56.28
34.65
55.95 52.92 52.95 52.95
64.50 80.50 77.00 82.00 101.50 117. 50 117 .50 85.00 105. 50 122. 50
Pittsburgh district
do
38.00
57.40 55.50 55.50 56.00 I 58.50
r
!
1971 data are for flooring, B and better, F.G., I" x 4", S.L., beginning April 1971, they are
Revised.
v Preliminary.
Annual data; monthly revisions are1 not available.
for flooring, C and better, F.G., 1" x 4", S.L.
9 Totals include data for types of lumber not shown separately.
d" Through March
SURVEY OF CUREENT BUSINESS
S-32
1972
Unless otherwise stated in footnotes below, data
through 1972 and descriptive notes are as shown
in the 1973 edition of BUSINESS STATISTICS
1973
1973
Annual
August 1974
June
July
Aug.
1974
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
METALS AND MANUFACTURES—Continued
IRON AND STEEL— Continued
Ore
Iron ore (operations in all U.S. districts):
Mine production
thous Ig tons
Shipments from mines
do
Imports
do
U.S. and foreign ores and ore agglomerates:
Receipts at iron and steel plants
do
Consumption at iron and steel plants
do
Exports
do
Stocks total end of period
At mines
At furnace yards
At U.S. docks
do
do
do
do
Manganese (mn content) general imports
1
75 434 i1 87 669
90,863
78 287
35, 761
43,331
8 940
10, 404
4,577
8 617
11,066
4,353
8,911
10, 868
5,071
8,496
10, 342
4,233
8 197
9,631
5,577
6,321
7,876
4,705
5,977
6,448
3,080
5 528
2,979
3,199
5 075
2,445
1,780
5,789
2,532
2,010
6 099
5,931
2,766
8,800
9,672
4,536
5,057
132 905
137 073
2 747
14 363
11 408
331
15 657
11 636
371
14 940
11,645
425
14 194
11 077
400
14, 240
11,672
310
12 151
11 491
215
10 968
11 848
121
5 096
11, 676
94
4,427
10, 479
36
5,151
11, 267
38
7 943
10 991
152
14, 326
11,338
229
14, 418
11,130
242
55
20
33
1
301
642
204
455
57 006
18, 196
37 231
1 579
58 415
16, 125
40 524
1,766
60 291
14, 383
43 641
2 267
61 587 r 60 691 r 59 447
12 949 11,394 10, 418
46 209 46 869 45 990
'2 429 ' 2 428 r 3 039
54, 889
12, 727
39, 241
2,921
50 915
15,368
33 189
2,358
47, 132
18, 525
27, 073
1,534
44 229
18, 791
24 047
1,391
46, 410
17, 919
27, 035
1,456
30, 349
1,850
41
81
27
57
76
112 303
119, 937
2,095
i 67 352
14, 679
50, 061
2,612
1
do
59
10
45
3
447
418
990
039
r
949
916
58
85
72
51
127
41
51
56
88, 942
89 140
1 660
100 837
100 300
1 203
8 468
8 571
1 295
8,516
8,506
1,372
8 282
8,290
1,335
8 087
7,941
1,285
8 588
8 466
1,241
8 402
8 114
1,207
8 609
8 184
1,203
8,563
8,624
1,162
7,804
8,386
8 233
p 8,299
7,806 ' 8,467
r
993
1,079
p 977
8,387
71. 38
75.24
75.89
75.89
75.89
75.89
75.89
75.89
75.89
75.89
77.44
82.81
96.00
96.00
1 140
15, 328
8 301
1 666
17, 099
9 148
1 447
1,500
815
1 493
1,312
727
1 521
1,360
800
1 547
1,367
752
1 559
1,570
876
1 592
1,446
754
1 666
1,228
683
1 748
1,379
751
1 750
1,239
705
1 752
1,388
807
1 711
1,419
r
829
1 638
1,442
815
96
961
579
147
1,031
617
124
88
52
131
77
49
138
82
50
140
80
48
139
95
57
130
84
50
147
71
42
142
84
51
144
75
47
147
81
50
147
75
46
145
84
53
133, 241 i 150 799
104 5
118 5
12, 488
119 4
12,290
113 8
12,182
112 7
12,229
117.0
12,876
119.2
12,586
120 4
12,722
117 7
12,726
117.8
11,598
118.8
12, 758
118.1
12, 442
119.0
929
1 896
1,569
535
164
140
602
122
102
689
150
126
729
147
124
796
174
147
899
180
139
929
174
137
996
174
142
1,057
167
136
i 91 gos i n\ 430
Pig Iron and Iron Products
Pig iron:
Production (excluding production of ferroalloys)
thous sh tons
Consumption
_.
do
Stocks, end of period .- .
do
Price, basic furnace H
$ per sh. ton
1
1
3
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
r
r
133. 80
133. 80
Steel, Raw and Semifinished
Steel (raw):
Production
thous sh. tons
Index
daily average 1967 ~ 100
Steel castings:
Orders, unfilled, for sale, end of period
thous. sh. tons
Shipments, total
do
For sale, total
__
do
317
1 596
1,308
12, 752 '12,185 12, 155
118 0 ' 116. 5 112.5
1,135 '1,216
191
'187
157
'149
1,227
200
161
Steel Mill Products
Steel products, net shipments:
Total (all grades)
thous sh
By product:
Semifinished products
Structural shapes (heavy) steel piling
Plates
Rails and accessories
do
do
do
do
Bars and tool steel, total
Bars: Hot rolled (incl. light shapes)
Reinforcing.
Cold
finished
do
do
do
do
Pipe and tubing
Wire and wire products
Tin mill products
do
do
do
Sheets and strip (incl. electrical) total
Sheets: Hot rolled
Cold rolled
do
do
do
tons
9 657
8 703
9 422
8 905
9 892
9 445
8 670
9 779
8,714
10 303
9 698
10 047
i 5 749
7 081
9 678
1 689
477
619
806
143
424
596
786
125
479
622
853
119
493
584
801
126
475
671
879
145
510
618
851
148
507
582
867
130
504
630
908
153
470
552
841
153
513
703
1,034
166
492
646
961
157
532
664
968
167
15,518 i 18 17G
9,299 i 10 763
4,454 i 5, 135
1 675 i 2 161
1 578
952
434
184
1,419
829
418
164
1,531
890
445
187
1,470
864
422
175
1,649
939
496
205
1 545
902
447
187
1 412
806
444
153
1,592
945
447
189
1,454
842
428
174
1,703
999
483
211
1,677
969
490
208
1,694
993
475
215
4,917
5 656
7,553
1,601
1
7 609
2,952
6,135
9 133
3 245
7 316
785
286
629
708
240
594
791
273
626
729
266
565
864
292
609
822
252
578
795
209
543
802
276
733
770
253
671
908
297
636
843
295
668
910
296
720
39, 862
14 036
16, 123
49 370
16 886
20 377
4 334
1 439
1 801
3,812
1 320
1,521
4 128
1 394
1,679
3,871
1 290
1,606
4,307
1 489
1,730
4,120
1 440
1 683
3 625
1 300
1 459
4,182
1,503
1,697
3,550
1,278
1,416
4,343
1 525
1,764
3,959
1,344
1,629
4,096
1,458
1,609
do
do
do
do
U8 598
9,299
5 055
18,217
22 705
11,405
6 459
23, 217
5 842
2 980
1 721
6 153
5 580
2,917
1,651
5,611
5 961
2,953
1,628
5,361
6 145 2 2, 079 2 2, 108
3,059 2 1,2 128 21,155
2 594
575
1 709
4,681 2 1, 461 2 1, 563
Rail transportation
do
Machinery, industrial equip tools
do
Containers, packaging ship materials do
Other
"""do
2,730
*5 396
6 616
!25 894
3,228
6 351
7 811
1
30, 254
842
1 628
1 870
7 806
775
1 507
1,903
7,087
841
1 609
1,852
7,802
2301
903
2
1,741
598
2
719
2,230
8,323 2 2, 838 2
By market (quarterly shipments):
Service centers and distributors
Construction, incl. maintenance
Contractors' products
Automotive
Steel mill products, inventories, end of period:
Consumers' (manufacturers only) mil sh tons
Receipts during period
do
Consumption during period
do
1
2304
2582
2773
2, 968
8.8
68 0
69 2
11 2
83 6
81 2
9 7
7 2
70
9.9
65
63
10.0
70
6 9
10.7
7 1
6 4
10.7
7 4
7 4
11.0
7 2
6.9
11.2
6 2
6.0
11.7
7.3
6.8
11.9
6.4
6.2
11.9
7.1
7.1
11.8
6.5
6.6
'11.6
6.9
' 7.1
do
8 6
87
80
84
86
82
7 7
81
87
8.5
8.1
8.6
'9.0
9.5
Producing mills:
In process (ingots, semifinished, etc.)
do
Finished (sheets plates bars pipe etc ) do
11.3
10 2
9.7
74
10.0
80
10.0
79
10.0
76
9.9
7 5
9.5
73
9.3
7.0
9.7
7.4
9.4
7.2
9.2
7.0
8.6
6.2
8.3
5.9
'8.2
'5.4
Service centers (warehouses)
' Revised.
» Preliminary.
i Annual
data; monthly or quarterly revisions are not
3
available.
* For month shown.
Average for 11 months.
pll.8
P7.0
^6.8
p 8.3
P 5. 1
IfEffective May 1973 SURVEY, prices are in terms of dollars per short ton.
SURVEY OF CURRENT BUSINESS
August 1974
1973
1972
Unless otherwise stated in footnotes below, data
through 1972 and descriptive notes are as shown
in the 1973 edition of BUSINESS STATISTICS
Annual
S-33
1973
June
July
Aug.
Sept.
1974
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
METALS AND MANUFACTURES—Continued
NONFERROUS METALS AND PRODUCTS
Aluminum:
Production, primary (dom. and foreign ores)
thous. sh. tons
Recovery from scrap (aluminum content).. do _
4,122
1, 045
4,530
1,060
373
90
382
81
374
87
372
82
388
92
379
86
399
79
403
84
376
79
419
85
410
do
do_ _
646.4
80.9
507.6
57.3
50.7
34.6
36.0
33.0
4.8
4.3
4.9
3.8
46.0
35. 1
36.5
30.5
34.7
3.7
48 6
3 4
41 1
32
44 1
4 0
38 2
do
do
108.3
154.0
229.6
215.1
10.3
17.3
14.1
15.1
16.4
15.7
29.8
18.7
.2645
.2533
.2500
.2500
.2500
.2500
mil. lb.- 11,877.6
9,246.2
do
4,767.9
.. - ...do
1,858.6
-do
Pl4, 438
plO, 902
"5,741
2,026
1,242.7
954.9
498.2
173.2
1,117.6
886.3
467.5
138.3
1,203.4
918.1
480.8
162.6
4,861
4,366
4,547
4,574
4,544
4,504
4,423
1, 664. 8
1,873.2
1,680.4
192.8
383.0
1,717.9
1,868. 5
1,698.3
170.2
444.0
147.5
163.4
147.3
16.1
113.0
130.5
145 0
132 8
12 2
142.6
137.2
127.5
140.9
135.1
121.3
13.8
107.0
423.6
189.8
425.6
199.9
21.5
10.4
36.4
12 2
21.1
8.0
267.7
182.7
342.0
189.4
31.2
18.3
48 9
19 7
36.3
18.4
2,230
271
114
2,411
157
108
648
180
98
.5124
.5949
.6008
3,016
2,647
767
3,317
3,031
782
810
195
618.9
616. 6
i 603. 0
636.9
43.4
56.3
51.4
45.7
55.7
52.9
51.3
47.3
53.6
51.4
48 7
51 5
53.1
48 2
57.6
51 3
53.2
54 8
344.6
1,485.3
280.5
1,541.2
21.3
124.0
36.5
99.7
28.4
123.1
13.3
122.2
11.9
136.3
20 5
128 4
19.6
117 3
19.4
130 9
168.0
157.5
134.3
154.2
144.7
147.2
154.3
156 7
157 5
64.5
i 118. 5
'26.1
' 124. 1
33.1
120.3
21.8
131.0
25.2
128.7
27.7
119.3
23.5
108.4
21 8
121 1
i 66.3
.1503
78.6
.1628
64.3
.1650
64 2
.1650
64.2
.1650
70 7
.1650
71.5
.1650
4,480
4,216
45, 845
52, 451
i 20, 180 i 20, 477
i 2, 199 i 2,012
i 69, 201 i 74, 640
i 53, 501 i 58, 142
489
4,083
1,705
160
6,230
4,850
0
4,858
1,290
150
5 210
4,255
0
3,622
1,900
165
5,630
4,460
' 3, 407
'66
' 9, 964 9,030
2. 2748 2. 1227
'267
8 895
2. 3755
'238
10, 795
2. 4345
'94
9,645
2. 4023
'278
8,860
2. 4591
'40.4
40.9
'42.7
'43.3
9.8
Imports (general):
Metal and alloys, crude A
Plates sheets etc
Exports:
Metal and alloys crude
Plates sheets bars etc
1
Price, primary Ingot, 99.5% minlrnum---$ per lb..
Aluminum products:
Shipments:
Ingot and mill prod, (net ship.)
Mill products, total
Sheet and plate
_.
Castings
Inventories, total (Ingot, mill prod., and scrap),
end of period
mil. Ib
Copper:
Production:
Mine, recoverable copper... _ -thous. sh. tons._
Refinery primary
do
From domestic ores
do
From foreign ores
.
- do
Secondary recovered as refined, qtrly._ do
Imports (general) :
Refined, unrefined, scrap (copper cont.) ..do. _ Refined A
do _.
Exports:
Refined and scrap A
do ._
Refined
_ _ _ do. Consumption, refined (by mills, etc.), qtrly-do
Stocks, refined, end of period
do ...
Fabricators'
-do Price, electrolytic (wirebars), dom., delivered
$ per lb-_
Copper-base mill and foundry products, shipments
(quarterly total):
Brass mill products
mil. Ib
Copper wire mill products (copper cont ) do
Brass and bronze foundry products
do
Lead:
Production:
Mine, recoverable lead
thous. sh. tons
Recovered from scrap (lead cont )
do
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' (lead content) d"
do
Scrap (lead-base, purchased), all smelters
(gross weight)
thous sh tons
Price common grade delivered
$ per Ib
Tin:
Imports (for consumption) :
Ore (tin content)
Metal, unwrought, unalloyed
Recoverv from scrap, total (tin cont.)As metal
Consumption total
Primary
Ig. tons
do
_do .
do
do
do
1
'1,134
Exports, incl. reexports (metal) f
- - - do
r 11, 571
Stocks, pig (industrial), end of period
do
Price, pig, Straits (N.Y.), prompt
$ per lb__ 1.7747
Zinc:
Mine prod., recoverable zinc
Imports (general):
Ores (zinc content)...
Metal (slab blocks)
9.8
3.6
3.5
3.0
31.2
20.5
47.0
20.8
22.8
20.4
22.0
20.9
20.9
16.0
30 4
20 0
22 8
24 0
17 7
26 4
13 6
19 7
.2540
.2625
.2725
.2900
.2900
.2924
.3150
.3150
.3340
1,209.6 1,194.1
907.2
905.6
482.9
489.0
140.7
164.6
1,295.2
986.7
537.3
167.9
,199.0 1,304.8 , 357. 8
895.5 ' 996. 5 968 9
480.3 ' 540. 9 518 5
160.8
149.0
160.6
, 208. 8
979 9
525 7
168.8
4 375
4,366
4 276
4 250
' 4 182
4 233
4 252
154.3
154.1
141.4
12.7
141.8
150 8
141 6
141.9
143 7
129.8
13.9
121.0
134.6
147.1
132.4
14.7
130.6
138.3
121.4
16.9
145.2
145.0
130.1
14.9
129 0
142.7
149 5
129 2
20 3
o 44 o
' 151. 0
150 9
130 3
20 6
o 50 o
140.2
147 5
130 2
17 3
25.5
10 2
42.3
17.1
57.4
30.3
36.7
21.7
42.7
23.8
47.1
25.5
65.9
33 8
44.3
19 9
54.6
26.2
54 7
22 9
28 5
16 2
26.0
15.9
24.7
13.6
21.7
11.9
20.4
28.4
13.1
22 6
9 5
24 6
10 0
40 7
19.8
27 8
12 4
1,185.4 1,336.5
880.1
969.3
462.6
506.8
155.3
181.8
9.2
.6008
867
.6008
.6008
.8146
.8624
58.4
54 9
52.8
50.9
'53.8
53.7
55.0
18.1
121 7
23 1
125 3
24.9
121.8
15.3
136.0
15.0
160 9
165 6
168 9
180.6
176.0
27 1
117.5
21 7
113 4
21 8
120 2
24 7
133 8
21.6
138.8
20.3
139. 6
18.0
72 2
1650
78 6
.1772
90 8
1898
86 2
1900
91 8
1953
86 8
. 2149
84.0
.2150
.2290
41
1 430
1 570
1 019
3 732
1,410
2 637
1 600
1 797
1 550
5 950
4 535
5 785
4 485
6 650
5 095
5 900
4 625
.6637
190
496
2,615
1,795
175
6,255
5,145
145
135
19. 0
50 3
12.1
53.4
16.2
49. 8
40.7
15.7
51.5
11 8
48 2
13 7
47 3
Consumption (recoverable zinc content):
Ores
- -- -do _. i 118. 3
' i 307.4
Scrap all types
do
i 129. 7
i 298. 3
12.5
24 g
11.5
23 0
11.7
24 6
12.7
25.2
12.7
26.4
14 3
9(5 o
541.3
87.5
1,503. 9
14.6
47.3
5.3
122.3
49.8
5.3
111.4
48.6
6.8
124.1
50.7
6.2
121.9
51.1
5.9
135.2
48.6
5.9
118.0
.6
1.0
1.5
1.3
3.3
120.3
i 114 3
.2066
22.2
110.9
.2031
25.1
116.3
.2034
27.4
115.1
.2034
1
T
Revised.
»> Preliminary.
i Annual data; monthly revisions are not available.
A Effective Jan. 1974 includes items not covered for earlier periods: Aluminum—pipes,
tubes, blanks, etc.; copper—imports of alloyed refined, and exports of ores, concentrates,
blister, etc.
§ All data (except annual production figures) reflect GSA remelted zinc and
zinc purchased for direct shipment.
1.2
745
190
449
165
' 484 ' 1 375r I 195
9 345 ' 9 964 8 935
2. 6244 3.0099 2.9814
r 41 0
55
160
508
r
3 309
1 485
150
6 160
4 995
'423 r 1 012
9 8?0
8 690
3. 5154 3. 8943
509
2 435
1,723
160
6 430
4 870
596
2,791
' 2 955 '1,234
9 910 10, 660
4.4077 4. 5688
41 9
'40 3
40.7
15 4
56 2
24 3
49 4
19 g
59 i
18 7
36 8
20.4
39.0
13 2
25 4
12 l
25 8
12 3
25 2
13 1
27 0
14 0
27 2
14.3
26.0
49.6
5.7
105.5
44.7
5.7
118.0
43.1
5.7
109.3
45.7
6.3
116.8
40.9
6.7
112.9
45.4
6.1
120.3
4.5
42 6
3.1
3.6
1.9
4.5
.2450
1,128
2,752
6, 285
5,115
39 3
r 38 7
.8660
864
731
199.1
588.7
Slab zinc: §
Production (primary smelter), from domestic
i 633. 2
and foreign ores
thous. sh. tons
173.7
Secondary (redistilled) production
do--.
11,418.3
Consumption fabricators
do
4.3
Exports
do
Stocks, end of period:
121.2
Producers', at smelter (ZI)O
do_..
i 126 1
.1775
Price, Prime Western..
$perlb.
.6858
834
r 478. 8
••37.7
.6858
' 209
254.9
522.6
_ _ do
do
.6875
.3350
204
.6858
.6016
740
3,193
1,285
213
0
O
150
89
478.3
thous. sh. tons
609
145
87
0
0
159
93
705
178
160
5,820
4,580
8.2
607
157
108
516
153
90
.6008
3.6
1.2
227
4. 6281 4. 2661
15.2
30.9
.8
19.6
19.1
18.8
25.1
22.9
17.6
29.8
29.7
31.6
29.3
32.3
109.9
123.1
117.7
104.9
122.9
101.8
111.5
106.7
117.8
.3640
.3495
.3482
.3190
.3264
.3478
.3117
.2736
.2035
.2037
.2031
cf Includes secondary smelters' lead stocks in refinery shapes and in copper-base scrap.
t Effective with the Aug. 1974 SURVEY, data revised to omit exports of wrought tin and
tin alloys; comparable figures for Jan.-May 1973 (long ton ): 87; 300; 130; 63; 24.
O Producers' stocks elsewhere, end of July 1974, 3,000 short tons.
0
For month shown.
SUEVEY OF CUKRENT BUSINESS
S-34
Unless otherwise stated in footnotes below, data
through 1972 and descriptive notes are as shown
In the 1973 edition of BUSINESS STATISTICS
1972
August 1974
1973
| 1973
June
Annual
July
Aug.
Sept.
1974
Oct.
Nov.
Dec.
Jan.
Feb.
116.2
148.9
Mar.
Apr.
136.0
212.3
May
June
July
METALS AND MANUFACTURES—Continued
MACHINERY AND EQUIPMENT
Foundry
equipment (new), new orders, net
mo. avg. shipments 1967=100..
Heating, combustion, atmosphere equipment, new
orders (domestic) net qtrly 9
mil $
Electric processing heating equip
do
84.0
97.2
75.4
110.3
166.5
79.3
12.8
41.3
128.6
19.9
75.8
32.8
33.8
35.0
18.9
23.2
20.8
190.3
172.9
186.5
204.9
205.7
214.0
219.0
225.0
196.5
197.0
191.8
208.4
21, 387
21, 917
2,155
1,947
1,621
1,361
1,765
1,737
1,890
1,876
1,775
1,745
1,682
1,919
1,669
2,288
1,535
1,763
1,536
1,554
2,032
2,316
1,946
2,031
1 974
2,395
2 064
2 316
52, 014
4,865
3,568
3,869
4,484
4,652
4,325
4,903
6,025
5,553
7,636
6,540
7,096
6 604
164.6
166.7
171.3
171.0
172.0
178.5
179.3
181 7
149.9
142.9
149.9
148.9
149.5
159.6
164.4
163.5
Material handling equipment (industrial):
Orders (new) index, seas, adj If
1 967 = 100. - 128.4
Industrial trucks (electric), shipments:
15, 482
Hand (motorized)
number
16, 902
Rider-type
do
Industrial trucks and tractors (internal combustion
40,
698
engines) shipments
number
119.7
133.3
do
do
do
do
do
403 05
368. 20
304. 25
267. 20
260 5
787. 20
717. 20
427. 25
388. 05
620 6
78.20
74.15
42.05
39.85
494 6
Tractors used in construction:
Tracklaving total
21 225 i 24 872
units
*546 0 i 690 6
mil $
i 5 056 22 5, 729
Wheel (contractors' off-highway)
units
i igg 5
223 4
mil $
Tractor shovel loaders (integral units only), wheel
53
616
and tracklaying types
units
46 052
1 on-i 7
951 9
mil $
Tractors, wheel (excl. garden and contractors' offhighway types)
units
196 988 i 212 072
"mil $" 1 141 0 i 1 322 8
2
126.3
4.1
5.2
52.90
48.40
30.05
27.45
517.4
61.55
53.50
36.40
32.40
567.1
58.30
52.50
33.85
29.35
541.9
6 467
192 8
1 747
2 67 7
r
4.9
Industrial supplies, machinery and equipment:
153.7
116.3
156.8
154.0
156.6
149.7
148.0
New orders index seas, adjusted
1967-69=100
Industrial suppliers distribution:
146.8
154.4
120.3
144.2
139.6
143.4
144.8
Sales index, seas, adjusted!
1967=100 .
Machine tools:
Metal cutting type tools:
Orders new (net) total
mil $ 1, 008. 95 1, 825. 45 133. 20 131.30 127.35 168.70 184.05
877. 25 1,550.40 110. 00 108. 20 111.45 138.80 165.35
Domestic
do
95.75
72.65
76.90
98.45
714. 45 1,073.75 102. 90
Shipments, total
do
79.45
08.15
85.65
64.85
935. 05
90.40
627. 15
Domestic
do
1,238.9
1,324.5
1
115
4
1
165
9
702 0 1 453 7 1 056 7
Metal forming type tools:
Orders new (net) total
Domestic
Shipments total
Domestic
Order backlog end of period
131.1
71.40
64.45
38.80
32.45
599.7
160.80 179. 25
138. 45 122.55
86.35 124.50
75.90 112.35
1,399.0 1,453.7
56.95
49.65
41.25
38.20
615.4
5 719
174 7
1 419
2 55 5
50.00
45.60
44.80
39.35
620.6
2
2
32. 3
49 9
6 1
34 0
6.8
15 5
169.55 174.05
144.95 149.25
84.10
95.85
72.50
86.30
1 539.2 1 617 4
41.80
39.85
38.50
34.85
623.9
254.25
215.55
129.30
111.05
1 742 4
45 75
38.05
37.95
33.05
631 7
5,506
166.2
1,133
2
45.2
2
243. 75 »• 233. 80
218. 10 '205.85
123.00 r 119. 90
108. 15 rr 104. 50
1 863 2 1,977.1
66.80
56.80
47.60
40.80
650.9
41.70
36.95
42.80
39.05
649 8
5 782
187.1
1,286
2
54.0
3 2 183
3
68. 9
r 55. 35
r 45. 95
'52.70
' 44. 75
r 652. 5
3
pl98. 40
P168. 35
P125. 55
pill. 05
p2 050 0
P44. 25
P36. 60
^63. 05
P58. 20
P633. 7
1, 979
67. 2
3
14 627
259 2
12 578
225 1
12, 580
215.3
512,101
s 243. 2
61 Hi
382 6
46 304
304 9
50, 691
348.8
558, 740
5 408. 4
3
23 047
3
2 920
3,143
3 244
163. 6
165.8
3
19,
3
601
143. 1
ELECTRICAL EQUIPMENT
2 915
4,120
4,629
3 607
3 070
* 3, 860
3,141
2,976
* 3, 427
2,435
3,321
* 4, 268
3,276
1,453
* 1, 494
1,024
1,327
* 1, 655
1,258
1,188
* 1, 588
975
3 070
204.0
379.3
280.5
331.3
596.2
213.7
580.0
470.6
929.5
2 625
299.8
325.4
244.4
264.3
470.8
216.6
420.8
362.1
871.8
2 346
348.5
279.1
233.8
231.2
423.7
199.1
316.9
288.7
624.5
2 585
497.6
253.5
209.8
242.3
441.2
188. 5
407.3
319.3
674.1
2 576
494.7
242.8
200.7
234.6
450. 3
195.7
400.8
295.8
799.5
3 175
651.9
310.2
264.8
271.6
552.9
268.8
454.6
307.8
940.3
3 160
671.6
303.2
214.3
271.9
541. 6
263.7
462.9
315.6
786.0
3 218
655.7
297.2
227.9
269.5
556.1
283.9
479.0
319.2
667.5
2 954
503.6
294.3
223.1
274.5
542.7
270.9
440.2
306.7
6 673.3
152 5
201.5
279.7
124 4
183.4
228.7
114 4
169.7
209.4
136 4
162.9
235.8
116 5
148.9
214.7
r 130 9
181.5
237.8
*• 130 1
158.8
264.2
119 5
••181.9
r 227. 9
129.3
192.3
250.0
4,830
4,741
Batteries (auto replacement) shipments
thous
Motors and generators:
New orders index qtrly
1967 — 100
43 220
99 3
129 6
134 2
Radio sets, production, total marketed
thous._
Television sets (incl. combination models), production, total market cf
thous..
20, 086
50, 198
<3,990
3,067
3,935 ~<6,303
3,870
3,952
13, 507
17, 367
« 1, 778
1,018
1,424
« 1, 778
1,535
o-i (Y\A
4 508
3 199
2 771
3 232
6 315
1 576
5 107
3 925
8,337
35 049
i 5,' 346
i 3, 702
2 976
3,430
i 6, 774
2,415
5 504
4,256
9,030
3 384
785.6
303.4
266.2
292.5
618.5
227.4
463 4
330.3
671.7
2 965
306.2
272.4
236.0
304.0
703.2
311.0
432.5
319.2
632.5
2 935
146.0
318.2
252.5
295.2
707.8
200.1
543.3
422.3
755.2
2 690
128.7
322.1
266.9
294.0
578.6
183 8
502 3
419.2
857.9
2 066
2*661
3,163
1 720
2,481
3,080
136 6
238.7
263.1
143 1
166.8
225. 4
146 0
210.7
251.7
149 5
232.1
228.3
Household major appliances (electrical), factory shipAir conditioners (room)
Dishwashers
Disposers (food waste)
Ranges
Refrigerators..
Freezers*.
Washers
Dryers (incl. gas)
.
Vacuum cleaners
_
do
do
do
do
do
do
do
do
do
43 468
2 807
4 525
4,208
134.9
127 2
179.3
GAS EQUIPMENT (RESIDENTIAL)
Furnace^ gravity and forced-air shipments thous
Ranges, total, sales. _
do
Water heaters (storage), automatic, sales
do
r
PETROLEUM, COAL, AND PRODUCTS
COAL
Anthracite:
Production i
thous sh tons
Exports
_ _
do
Price, wholesale, chestnut, f.o.b. car at mine
Bituminous:
Production \
$ per sh. ton__
7 Iflfi
780
18. 228
thous. sh. tons._ 595,386
i 6 725
717
600
72
429
33
Kon
95
525
37
606
97
575
47
513
48
495
39
440
12
510
40
540
80
565
105
P 490
43
20.044
19. 600
19. 845
20. 458
20.703
20. 703
21 .070
21. 621
21. 621
22.785
22. 785
26. 031
26. 031
26. 031
i 591,000 46, 710 ' 43,635
55,005
r
Revised.
» Preliminary.
i Annual data; monthly or quarterly
revisions not avail.
4
Excludes figures for rubber-tired dozers.
3 For month shown.
Data cover 5 weeks;
other periods, 4 weeks.
« Beginning 1st qtr. 1974, tractor shovel-loader class excludes
shipments of tractor shovel-loader/backhoes (front engine mount); of this type, data for the
tractor chassis only are now included in the wheel tractor class (1st qtr. 1974 data, 4,239 units
valued at $34.0 mil.).
6 Reflects new estimating factor (not comparable with earlier data
shown); restated June 1973 sales, 684,600 units.
tEffective June 1973 SURVEY, index revised back to 1970.
^Revised monthly data for Jan. 1971-Apr. 1973 are as follows (1967 = 100): 1971—91.6;
1
29. 951
r
48,785 54,800 50, 550 48, 050 53, 470 49,010 51,455 '•53,685 56, 090 47,635 P48, 905
97.3; 94.9; 88.6; 92.4; 99.2; 121.9; 101.6; 108.7; 90.4; 103.7; 110.4; 1972—111.1; 113.8; 112.7; 113.0;
116.6; 127.2; 131.0; 150.7; 138.2; 130.0; 154.5; 151.0; 1973—159.4; 164.0; 176.2; 185.9.
cf Effective Jan. 1973, data reflect total market as follows: Sets produced in the United States,
imports by U.S. manufacturers for sale under their brand name and, beginning 1973, sets imported directly for resale.
*New series. Source: Association of Home Appliance Manufacturers.
9 Includes data not shown separately.
$ Monthly revisions for 1972 will be shown later.
SURVEY OF CURRENT BUSINESS
August 19T4
Unless otherwise stated in footnotes below, data
through 1972 and descriptive notes are as shown
in the 1973 edition of BUSINESS STATISTICS
1972
1973
J 1973
June
Annual
S-35
July
Aug.
Sept.
1974
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
PETROLEUM, COAL, AND PRODUCTS—Continued
COAL— Continued
Bituminous— Continued
Industrial consumption and retail deliveries,
total 9
thous sh tons
Electric power utilities
do
Mfg. and mining industries, total _
do
Coke plants (oven and beehive)
do
Retail deliveries to other consumers..
do
516, 776
348, 612
159, 253
87, 272
556, 022
386,879
160,827
93,634
45, 115
31,824
12,895
7,774
47,715
34, 620
12, 651
7,964
48, 840
35, 933
12,447
7,894
45, 471
32,735
12,052
7,603
46,427
32,263
13,348
7,887
46,703
31,962
13, 798
7,736
50,130
33,886
15, 228
8,048
50, 415
34,468
14,637
7,977
45, 122
30, 020
14,002
7,307
8,748
8,200
381
431
446
672
804
932
1,009
1,310
1,100
99, 022 107,616 105, 027 104, 488 103,561 104,397 104,095
85,512 90,747 90, 818 90,055 88,886 90,200 89, 734
13, 220 16,594 13, 949 14, 123 14,400 13,917 13,991
6,493
8,544
6,039
6,875
6,575
7,171
7 097
99,022
85, 512
13, 220
6,875
96,005
83, 366
12, 339
6,269
93, 970
80, 910
12, 670
6 090
Stocks, industrial and retail dealers', end of period,
115,372
total
thous. sh tons
Electric power utilities
do
98, 450
Mfg. and mining industries, total . do _. 16,632
9,032
Oven-coke plants
do
Retail dealers
do
Exports
do
Prices, wholesale:
Screenings, indust. use, f.o.b. mine
$ persh. ton__
Domestic, large sizes, f.o.b. mine
do
COKE
Production:
Beehive
Oven (byproduct) _
Petroleum coke§
Stocks, end of period:
Oven-coke plants, total .
At furnace plants
At merchant plants
Petroleum coke.
Exports
.
520
420
840
97 445 103 997 107 668
83 250 89 900 92, 320
13, 765 13, 687 14, 928
6 662
7 508
6 255
290
290
276
260
310
275
280
370
290
300
390
430
410
420
52, 870
4,969
4,164
5,125
3 424
5 882
5 214
4,889
2 813
4 627
3 179
4 944
6 032
6 369
11.816
10. 378
11.367 3 11. 659
11.616
11. 551
11. 551
12. 040
12.129
13.010
13. 103
70
5 252
1 994
70
5 242
2 009
68
5,369
66
5,218
i ICQ
1 183
1 130
53
1 551
130
1 238
1 193
46
1 243
1 205
37
135
179
947
957
1,238
(5)
(6)
2784
63,496
26, 458
60
5,325
2,315
64
5,307
2,351
71
5,383
2,309
67
5,153
2,067
68
5,358
2 215
66
5,218
2 099
82
5,426
2 175
67
5,422
2 053
65
4,974
1 844
2,941
2,590
351
1,563
1,232
1,184
1 113
71
1,995
1 395
1,712
1 572
139
1,965
108
1,514
1,367
148
2,057
119
1,520
1 370
150
2,087
147
1 501
1 375
126
2,027
211
1 435
1 339
96
1 957
109
1 313
1 236
76
2 017
88
1 184
1 113
71
1 995
101
1 125
1 053
72
1 928
70
1 139
1 070
69
1 811
57
number
211,306
$ per bbl._
3.45
mil. bbl
4, 280. 9
% of capacity
88
9,892
*3.87
4, 537. 3
91
767
4.13
385.9
94
912
4.11
395.2
94
724
4.11
391.7
93
854
4.12
376 8
92
790
4 12
395 5
94
1,087
371 2
91
do
do
do
do
do
45, 712
31, 200
14, 084
7,904
55, 960
654
59,853
23, 953
thous. sh. tons..
do ...
. do. _-
r
46 402 44, 065
31 010 29,290
14, 549 rr14, 245
7 664 l 770
I ion
CO
1 653
1 4.Q
^-PETROLEUM AND PRODUCTS
Crude petroleum:
Oil wells completed
Price at wells (Oklahoma)
Runs to stills O
Refinery operating ratio
All oils, supply, demand, and stocks:
New supply, totald* i
Production:
Crude petroleum}:
Natural-gas plant liquidsj
Imports:
Crude and unfinished oils
Refined products^
mil. bbl
822
763
901
2
376 6 e 373
8
89
84
326 5
81
oco 7
936
6 33
82
371 6
85
5, 839. 0
6,262.0
605.3
631.2
540.8
516.7
542.0
534.2
519.1
495.8
452 1
3, 455. 4
648.3
3,353.4
645.1
276.3
62.6
285.0
54.8
284.0
55.1
272 3
53.1
284 3
55 3
274 3
54 0
280 3
54 5
276 1
53 6
256 4
49 5
493 8
277 4.
54 7
499 8
do
do
do
do
856.8
878.5
1, 234. 2
1, 029. 4
101.3
75.1
113.0
78.3
115.9
85.8
108.7
82.5
119 5
82 8
108 5
97 4
94 3
90 0
77 5
88 5
66 3
79 9
81 4
80 3
104 5
74 7
268 6
52 1
Change in stocks, nil oils (decrease,—).
do_ _
-85.0
49.3
24.3
28.3
10.7
18.7
21.8
—14.2
-14.9
-33.2
—27 9
59
29 5
Demand, total©
Exports:
Crude petroleum
Refined products*,
Domestic product demand, total 9 ©
GasolineJ
Kerosene
do
6, 071. 7
6, 381. 7
500.6
514.8
546.6
505 9
536 8
559 1
547 3
541 8
503 4
do
do .
do
do
do. _
.2
81.2
5,990.3
2, 350. 7
85.9
.7
83.5
6,297.5
2 452. 0
78.9
6.4
494.1
210 3
3.5
o
2
7.2
507.3
218 9
4.6
67
539.8
2°6 6
4 5
o
2
71
498.6
198 7
55
o
o
69
529.9
208 6
5 g
61
553.0
206 0
92
2
69
540.3
194 1
7 4
5
59
535.4
181 2
9 7
492 1
3
54
486 4
171 7
79
1
4
7
5
484 9
(\\
7 3
477 6
195 0
39
Distillate fuel oil
Residual fuel oilt
Jet fuel.
do
do
do
1,066.1
925.6
382.5
1, 124. 3
1,019.9
383 4
72.4
78.0
30 2
72 2
74.7
32 4
79 2
83.4
32 5
79 8
80 0
31 9
90 4
79 o
33 0
105 3
93 6
30 4
114 2
90 2
32 2
118 4
94 1
27 8
107 4
84 3
24 i
97 5
78 0
29 6
85 4
72 9
28 9
Lubricants.. _
Asphalt.
Liquefied gasesj..
do
do
do
52.8
163.8
519.8
59 0
182 6
528.6
4 5
20.1
34.5
54
23 4
34.2
53
26 1
39.3
46
21 1
38.7
57
20 9
46 0
50
15 1
50 8
49
93
49 5
5 2
6 9
54 8
4 4
7 6
44 2
49
93
43 2
4 7
12 1
39 o
do
do
do
do
959.0
246.4
100.8
611.7
1,008.3
242.5
107.0
658.8
958.0
248.9
111.0
698.2
986.3
243.7
109.5
633.1
997.0
248.3
106.4
642.2
, 015. 6
241 3
109.4
665 0
037 4
246 3
110 3
680 9
023 2
250 0
111 7
661 6
008 3
242 5
107 0
658 8
975 1
233 0
105 9
636 1
947 2
240 7
103 2
603 2
953 1
244 7
115 2
593 3
982 6
256 4
117 9
608 3
do
do
do
2 320 0
7
217 1
2 401 9
17
213 4
211 3
(i)
211 6
218 3
1
215 0
215 4
1
208 6
200 2
0)
213 9
207 1
3
°18 2
193 2
5
211 4
190 4
2
213 4
184 2
221 3^
168 2
m
223 o
186 5
2
223 6
190 5
•^
296 8
110.9
112.9
118.5
126.1
136.7
147.0
161.4
172.1
177.3
188.5
.277
.286
.303
.328
361
381
.396
.417
.435
.436
1.4
(i)
35
1.7
m
36
1.8
CO
4 0
1.1
(i)
39
1i
m
38
10
m
39
1.0
(i)
32
CO
59
22 1
70
23 5
66
21 2
7i
21 0
59
17 5
56
15 6
47
15 0
36
14 9
130.0
135.6
139.9
145.9
154.3
1S4. 8
198.7
209.4
217.fi
233.2
Stocks, end of period, total
Crude petroleum
Unfinished oils, natural gasoline, etc.
— Refined products
Refined petroleum products:
Gasoline (incl. aviation):
Production... ___
ExportsJ
Stocks, end of period
Prices (excl. aviation):
Wholesale, regular*
Index, 2/73 =100. .
109.9
108.6
110.4
111.1
Retail (regular grade, excl. taxes), 55 cities
(1st of following mo.)
$ per gaL.
.245
.267
.275
.268
.268
Aviatlon gasoline:
Production
mil. bbl
17.0
16.4
1.9
1.3
1.6
ExportsJ
do
(i)
(i)
(i)
2
.2
Stocks, end of period
.
do
4.3
39
34
31
34
Kerosene:
Production
do
80.1
80 1
4 5
49
54
Stocks, end of period
do
19.1
21 0
20 2
20.5
21 6
--Price, wholesale (light distillate)*
Index, 1967=100.128.0
129.4
126.9
128.6
T
J
Revised.
Less than 50 thousand barrels.
2 Reflects revisions not available by
months,
s Average for Jan.-May.
< Average for Jan.-Oct.
s Series discontinued.
Beginning Jan. 1974, data may reflect input of lease condensate, natural gas plant liquids,
unfinished oils, and other hydrocarbons which are processed through the crude oil distillation
facilities. No comparable data for earlier periods are available.
9 Includes data not shown separately.
5 Includes nonmarketable catalyst coke.
Q
6
497
192
5
196.6
1.1
30
241.7
cf Includes small amounts of "other hydrocarbons and hydrogen refinery input," not
shown separately.
\ Monthly revisions for 1972 will be shown later.
© Beginning March 1974 SURVEY, data are restated to account for processing gain and
crude losses not previously included; comparable data for earlier periods will be shown later.
©Effective with Jan. 1974 data, series known as " Gross input to crude oil distillation units";
see note « for this page.
*See similar note, p. S-36.
SURVEY OF CURRENT BUSINESS
S-36
1972
Unless otherwise stated in footnotes below, data
through 1972 and descriptive notes are as shown
in the 1973 edition of BUSINESS STATISTICS
1
1973
1973
Annual
August 1974
June
July
Aug.
Sept.
1974
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
269.2
279.7
288 9
561.8
497.6
476.2
PETROLEUM, COAL, AND PRODUCTS—Continued
PETROLEUM AND PRODUCTS— Continued
Refined petroleum products— Continued
Distillate fuel oil:
Production
- mil. bbl
Imports
-do __
Exports
do
Stocks end of period
do
Price wholesale (middle distillate)*
Index, 1967 = 100
Residual fuel oil:
Production
mil. bbl
Imports
do __
Exports
__do
Stocks end of period
do
Price wholesale*
Index, 1967 = 100.._
Jet fuel:
Production
Stocks end of period
do
do
do
Asphalt:
Production
Stocks end of period
84.8
6.5
.3
137.9
85.4
9.9
.1
160.9
86.9
8.9
.3
177.3
84.4
8.9
.8
190.2
90.3
13.5
.7
203.0
87.7
14.8
.1
200.2
97.3
13.5
.3
196.5
89.3
13.9
.1
181.2
67.2
8.2
.1
149.2
69.0
8.3
2
128.9
125 6
mil. bbl
do
75 7
6.5
(2)
139.7
137.4
141.8
143.3
145.6
147.7
157.3
171.7
194.8
234.1
251.8
257.9
354.6
666.7
9.2
53.5
190.4
27.4
52.7
.2
51.8
181.0
27.4
49.5
1.1
53.4
184.9
26.4
57.3
.9
53.6
176.6
26.3
56.2
.7
55.1
183.5
30.5
48.2
.6
55.0
201.6
31.8
58.2
.2
52.0
206.0
35.9
55.6
.3
53.5
281.4
33.2
53.7
.3
46.5
319.4
28.8
53.8
.3
45.0
417.2
28 ^
29 5
47.6
47.2
505.9
.5
51.3
522.0
310.0
25.5
313.7
28.5
25.1
25.4
25.6
25.7
26.2
24.9
25.4
25.1
27.1
25.6
25.6
28.5
25.7
28.5
24.8
29.7
21.9
29.6
25.8
30.0
26.0
31.7
65.3
15.0
13.3
68.7
12.8
12.2
5.4
1.2
12.8
5.8
1.0
12.2
5.6
1.0
11.8
5.5
1.0
11.8
6.2
.8
11.6
6.0
.9
12.1
6.0
1.1
12.2
5.9
1.0
12.0
5.2
.7
12.3
6.1
1.0
6.0
12.7
13.0
155.3
21.6
167.9
15.0
16.8
27.3
17.7
22.9
18.9
16.8
18.1
14.9
17.8
12.5
14.0
12.1
11.4
15.0
8.8
18.0
8.7
20.1
11.5
23.2
13.1
25.4
575. 1
444.7
130.4
85.7
583.9
447.0
136.8
98.6
48.4
36.8
11.6
90.0
49.2
36.5
12.7
101.0
48.7
36.6
12.1
106.8
47.1
36.0
11.1
111.3
49.7
38.0
11.7
111.3
47.2
37.3
9.9
104.2
48.8
38.3
10.5
98.6
47.7
37.6
10.1
90.1
44.5
35.0
9.4
88.5
50.5
40.0
10.6
92.9
48. 1
37.5
10.6
99.4
292.5
637.4
12.1
55.2
mil. bbl
do
Lubricants:
Production
Exports
Stocks end of period
963.6 1, 030. 2
138.8
66.4
3.2
1.2
196.5
154.3
51.9
.3
Liquefied gases (incl. ethane and ethylene):
Production total
At gas processing plants (L P O )
At refineries ( L E G )
Stocks (at plants and refineries)
mil bbl
do
do
do
38.1
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
70, 273
71, 538
5,165
71, 772
71,453
5,092
6,234
6,074
4,330
5,998
5,845
4,421
6,347
6,097
4,515
5,956
5,746
4,890
6,505
6,185
5,184
6,081
6,024
5,217
5,876
5,796
5,092
6,068
6,307
4,805
6,027
6,023
4,640
6 840
6,608
5,087
6,622
6,425
5,365
6,648
6,498
5,478
thous. sh tons
do
11, 703
12,223
516
1,032
472
926
492
1,047
977
433
1,097
1,057
977
516
1,069
537
992
545
1,114
590
r 1,087
'654
1,115
626
thous sh tons
do
do
do
46 767
1,656
31, 826
2,173
48, 238
1,672
32, 460
2,293
4,058
148
2,714
198
3,928
118
2,663
185
4,181
3,849
113
2,619
185
4,185
143
2,753
198
3,748
148
2,463
177
4,100
144
2,730
196
3,776
135
2,490
174
4,177
165
2,764
197
4 253
144
2,803
205
171
2,833
194
142
2,786
188
4,258
164
2, 825
198
do
do
do
4 639
2 502
3 971
4,678
3,130
4,003
412
253
333
393
253
317
421
258
351
350
253
329
421
289
349
404
269
336
386
259
316
405
298
327
382
305
290
411
307
337
380
320
360
403
309
358
Stocks, end of period:
Total, all mills
Pulp mills
Paper and board mills
Nonpaper mills
do
do
do
do
848
323
393
86
725
296
348
81
807
343
385
79
736
318
339
79
736
327
341
68
683
294
328
62
707
324
323
60
725
329
335
61
725
296
348
81
702
310
329
63
686
309
316
61
737
351
321
65
'745
739
'343
'74
331
75
Exports all grades total
Dissolving and special alpha
All other
do
do
do
i 2 253
i 2 343
210
60
150
181
62
119
196
47
149
198
53
144
211
62
149
211
60
151
180
52
128
193
75
118
206
61
145
237
74
163
245
68
177
307
64
243
233
71
162
Imports all grades total
Dissolving and special alpha
All other
do
do
do
368
19
349
361
15
346
351
20
331
471
467
485
688
WOODPULP
Production:
Total all grades
Dissolving and special alpha
Sulfate
Sulflte
Groundwood
Deflbrated or exploded
Soda semichem screenings etc
1
793
736
1 460 i i 607
4,104
i 3 728
i 3 993
i 3 504
i 3 816
177
333
17
315
324
17
307
250
3
247
279
10
270
356
17
339
378
23
355
287
21
266
363
21
341
337
22
316
345
13
333
59 445
25 426
28 532
61 833
26* 486
29 654
5 196
2,213
2,509
4 919
2,123
2,332
5 341
5 559
10
454
11
495
4 813
2,050
2 305
11
447
5 491
2,338
2,647
12
494
5 228
2,237
2,509
12
462
5 380
2,280
2,594
11
470
4,710
2,077
2,210
10
412
5 258
2,277
2,547
12
421
4,923
2,125
2,354
11
432
5,421
2,344
2,577
14
486
109.0
105 5
106.4
112 4
115 1
112 8
112.4
116 7
111.7
112.4
116.7
112.2
112.4
116.7
112.8
112.4
116.7
115.9
115.3
118.0
117.7
115.3
119.7
118.8
115.3
120.7
120.1
116.7
127.0
121.7
116.7
131.0
121.8
123.5
133.9
123.4
224
328
PAPER AND PAPER PRODUCTS
Paper and board:
Production (Bu. of the Census):
All grades total unadjusted
thous sh tons
Paper..
do
Paper board
do
Wet-machine board
do
Construction paper and board
do
Wholesale price indexes:
Book paper, A grade
. 1967 = 100. .
Paperboard _ . _
_
do
Building paper and board ._
-.
do
147
135
•• Revised.
i Reported annual total; revisions not allocated to the months.
2 Less than 50 thousand
barrels.
*New series. The Bureau of Labor Statistics has revised its pricing program and discontinued prices for the former specification. The index shown is developed from revenue and
volume data collected directly from petroleum companies. The pricing formerly was based
r
'505
5,540
2,350
2,674
14
503
134.2
145.1
123.7
134.2
148.0
125.4
5, 383
' 2, 289
»• 2, 576
14
135.6
148.9
124.9
146.3
158.0
124.4
on spot quotations in trade journals, which over the past year have come to represent a
decreasing portion of domestic transactions. Because of the time required to collect the new
data there will be a one-month lag in pricing; e.g. the May 1974 index reflects changes in prices
from Mar. to Apr. Except for gasoline (p. S-35), 1973 annuals are averages of Jan. and Feb.
old indexes and Mar.-Dec. new; for gasoline, it is an average of Feb.-Dec. new indexes. There
are no comparable indexes for earlier periods.
SURVEY OF CURRENT BUSINESS
August 1974
1972
Unless otherwise stated in footnotes below, data
through 1972 and descriptive notes are as shown
in the 1973 edition of BUSINESS STATISTICS
S-37
1973
1973
June
Annual
July
Aug.
Sept.
1974
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
PULP, PAPER, AND PAPER PRODUCTS—Continued
PAPER AND PAPER PRODUCTS— Con.
Selected types of paper (API):
Groundwood paper, uncoated:
Orders new
- thous. sh. tons..
Orders unfilled end of period
do
Shipments
do
Coated paper:
Orders new
do
Orders unfilled end of period
do
Shipments
do
Uncoated book and" writing and related papers', t
Orders new
do
Shipments
do
Unbleached kraft packaging and industrial converting papers:
Orders new
do
Orders unfilled end of period
do
Shipments
- - --do
Tissue paper production
do
Newsprint:
Canada:
Production
Shipments from mills
Stocks at mills end of period
United States:
Production
Shipments from mills
Stocks at mills end of period
125
195
122
130
207
109
136
211
132
112
219
120
126
201
136
96
168
123
100
152
119
118
139
126
117
169
109
140
168
120
134
193
127
107
168
118
3,826
346
3,852
318
462
328
292
420
310
316
435
324
293
419
301
312
422
325
279
359
330
309
346
310
333
352
345
306
342
310
346
366
341
321
349
'337
347
353
341
6, 417
6,590
556
551
484
532
528
576
514
524
563
603
504
556
498
515
585
597
525
533
563
601
'537
'596
546
602
4,039
241
3,916
3,977
3,967
193
4,011
3,984
370
192
340
334
374
191
314
314
324
196
346
336
303
190
327
308
387
178
351
340
313
176
339
328
320
193
332
311
337
190
340
333
345
204
'372
345
215
'334
'365
316
345
'339
'338
350
214
351
347
do
do
do
8,820
8,901
251
9,140
9,199
193
825
811
279
775
781
273
684
665
292
592
665
218
716
722
213
801
826
188
785
780
193
3
815
3791
3216
758
740
233
835
776
292
799
848
244
794
820
218
800
775
243
do
do
do
3,422
3,437
27
3,431
3,435
24
282
281
35
278
278
35
288
292
30
258
262
27
291
292
25
289
289
26
261
263
24
3281
3
277
328
258
261
25
277
272
31
255
261
24
276
276
24
269
263
30
Consumption by publishers d"
do
Stocks at and in transit to publishers, end of
period
thous. sh tons
7,569
7,658
642
620
610
608
652
652
623
»569
539
619
598
638
594
544
603
671
670
628
606
590
606
603
3
657
718
707
727
720
706
Imports
do
Price, rolls, contract, f.o.b. mill, freight allowed
or delivered
$ per sh ton
7,101
7,410
678
606
586
511
567
656
549
682
628
623
636
622
622
163. 20
170. 44
168. 58
169. 42
169. 42
170.25
170. 25
179. 67
182. 34
184. 34
184. 34
195. 05
205. 13
205. 13
207. 13
513
1,446
549
518
1,603
568
541
595
1,860
1,874
1,903
1,909
1,817
1,723
583
518
587
548
585
590
574
228, 052
19, 591
16, 762
20, 239
18, 267
21, 744
19,410
16,934
19,556
18, 238
19,518
2,614.0
1,460.0
215.1
119.5
193.5
107.0
232.4
130.9
216.7
125.0
243.0
138.9
227.0
130.2
225.3
133.0
c 225.6
133.0
201.5
123.1
224.1
137. 9
3,630
393
3,522
Folding paper boxes
thous. sh. tons
mil $
r
^ 089
6,023
Paper board (American Paper Institute):
Orders, new (weekly avg )
thous sh. tons
Orders unfilled §
do
Production total (weekly avg )
do
Paper products:
Shipping containers, corrugated and solid fiber,
shipments
mil. sq. ft. surf. area-
1,431
152
1,427
1,405
164
1,317
1
211, 926
2, 525. 0
1 , 330. 0
1
596
573
575
579
518
583
1,603
1,753
579
210
563
1,741
587
622
594
1,789
1,775
597
T
587
19, 474
__
596
587
1,741
1,589
19, 664
17, 797
599
587
'r 216. 6 218.5
137. 3 ' 142. 6
209.6
138.1
15, 386
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 Ib..
Synthetic rubber:
Production
...
Consumption
Stocks, end of period
thous Ig tons
do
do
Exports (Bu. of Census)
Reclaimed rubber:
Production _
Consumption
Stocks, end of period.
640. 60
116.72
602. 16
685 44
122. 44
642 91
.181
.351
2, 424. 68 2, 585. 49
2, 296. 12 2, 400. 84
520. 99
495. 68
2
2
2
2
2
54 46
111. 08
53 44
48.97
111.49
40.71
56.40
111.04
66 26
56.30
121.68
63.69
63.41
114. 92
60. 17
57.12
122.47
56.32
53 96
122. 44
38 32
64.43
122. 04
53 18
58.43
118. 26
59.09
63.02
127. 44
63 42
58.75
128. 28
50 15
59.85
128. 93
65.31
53. 24
.368
.413
.413
.364
.336
.395
.540
.538
.510
.488
.428
.440
.420
199 86
196. 06
469 93
210. 04
180. 33
499. 28
220. 38
209. 48
505 91
210. 67
209. 08
517 18
227. 49
219.68
500.88
212 61
196. 86
494 73
219 37
188 97
590 99
222. 74
221. 03
500 84
208. 70 227 42
201. 94 ' 216.52
497 00 476 72
222. 10
204. 81
466 60
223. 60
200. 88
490. 63
do
257. 10
275. 84
23 58
20.86
18 96
29 34
25 01
21 60
21 10
22 40
20 55
27 76
9
7 50
26 01
do
do
do
194. 45
187. 58
19.91
201 02 2 18 46
163 71 22 13 gi
20 96
23. 16
16 79
11 38
25.04
15 30
11 89
23.87
11 71
11 27
22.18
13.04
14 52
21.43
11.31
11 17
21 66
14 10
10 80
20 96
11 27
13 75
19.81
14 32
13 15
17 64
15 38
14 43
17 19
10 05
13 06
15 85
14.23
13 07
15.55
thous
229, 611
293 418
17 752
14, 287
17, 325
17 727
19, 841
18 035
17 343
20 366
19 349
20 497
18 334
18 379
do
do
do
do
227 944
63 924
161 689
2 331
238
69
165
4
916
600
216
100
21 994
6 562
15' 099
332
19, 433
4 671
14, 462
300
19, 658
4 473
14, 892
293
20 765
5 424
14 920
421
22, 582
6 555
15, 523
504
17 559
5 884
11,203
471
13 950
3 778
9, 762
409
17,055
4 846
11 657
551
15 808
4 439
10 854
592
17 929
4 724
11 962
536
19 639
5 245
13 832
563
18 994
5 452
12 631
911
.343
21.06
TIRES AND TUBES
Pneumatic casings, automotive:
Production
_
Shipments, total
_ _
Original equipment
Replacement equipment
Exports. .
Stocks , end of period
Exports (Bu. of Census)
Inner tubes, automotive:
Production..
. . .
Shipments
Stocks, end of period
~,
Exports (Bu. of Census)..
_
do
do
60 255
2*127
50 275
4 393
56 834
440
52 341
349
50 392
245
47 775
429
45 636
548
46 472
517
50 275
488
53 308
539
57 056
601
60 553
568
59 090
684
58 995
1 012
986
do
do
do
do
37 962
41 774
9 391
766
38 701
44 710
8 556
1 290
3 233
3 919
10 203
149
2,350
3 348
9 633
67
2 950
3 688
9*311
110
3 209
3 736
9 234
82
3 592
4 273
8 999
143
3 041
3 395
8*601
141
3 008
3 366
8 556
129
3 554
4*210
8*298
80
3 441
3 819
8 517
138
3 875
3 890
8 897
158
3 570
3 887
8 978
9
27
3 615
4 057
9 109
349
500
' Revised.
r> Preliminary.
1 Reported annual total; revisions not allocated to months.
2 Publication of monthly rubber statistics was discontinued by the Census Bureau effective
with the Dec. 1972 report (Series M30A). Data beginning Jan. 1973 are from 3 the Rubber
Manufacturers Association and are not strictly comparable with earlier data.
Beginning
January 1974, data reflect reduction in basis weight of newsprint from 32 to 30 Ibs. for 500
sheets measuring 24" x 36"; data for January 1974 on 32-lb. basis (thous. short tons): Canadaproduction, 840; shipments, 815; stocks, 222; United States—production, 289; shipments, 285;
mill stocks, 29; consumption by publishers, 586, stocks at and in transit, 676.
t Represents the sum of uncoated book paper and writing and related papers formerly
shown separately; data for new orders no longer available for the individual items.
d" As reported by publishers accounting for about 75 percent of total newsprint consumption.
§ Monthly data are averages for the 4-week period ending on Saturday nearest the end of the
c
month; annual data are as of Dec. 31.
Corrected.
SURVEY OF CURRENT BUSINESS
S-38
Unless otherwise stated in footnotes below, data
through 1972 and descriptive notes are as shown
in the 1973 edition of BUSINESS STATISTICS
1972
1973
1973
Annual
August 1974
June
Aug.
July
Sept.
1974
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
STONE, CLAY, AND GLASS PRODUCTS
PORTLAND CEMENT
thous. bbl__ i 433,149 1 472, 149 47, 181 47, 633 53,138 43, 367 50, 213 38, 612 26,500 22, 245 24, 601 31, 846 38, 622 43,133 43, 372
Shipments, finished cement
CLAY CONSTRUCTION PRODUCTS
Shipments:
Brick, unglazed (common and face)
mil. standard brick.. 8,402.2
Structural tile, except facing
thous. sh. tons..
100.5
Sewer pipe and fittings, vitrified
do..
1,718.0
Facing tile (hollow), glazed and unglazed
mil. brick equivalent..
133.3
Floor and wall tile and accessories, glazed and unglazed
mil. sq. ft_.
307.9
Price Index, brick (common), f.o.b. plant or
N.Y. dock
1967 = 100
122.1
r
8, 922. 7
94.2
1,637.5
862.1
8.3
161.9
832 9
9 2
160 6
868.0
10.5
174.2
704.5
10.0
148.6
781.7
9.9
150.2
692.6
8.7
132.1
526.3
5.7
87.7
511.4
6.5
97.2
452.1
5.5
100.9
570.4
7.5
128.4
123.3
12.1
11 3
13.0
10.2
11.2
9.1
8.2
7.9
7.5
9.0
9.0
9.4
300.6
26.0
25 2
27.5
23.0
26.8
23.9
21.3
23.0
22.1
23.6
25.3
25.5
130.9
131 3
131 3
131 5
131 5
132 1
132 1
132 5
134 8
136 5
139 5
141 2
141.8
142 2
550 292
591,290
147 118
148 395
153,526
146 864
157,187
393,105
152,242
439,048
38,680
108,438
37, 396
110,999
38,647
114,879
40, 524
106, 340
thous. gross. . 267,347
277,372
24,476
22 922
24, 270
22,116
24,662
21,098
20, 318
24,430
20,804
25, 814
r
24, 905
24, 444
26,372
264, 869
272,630
23,813
21 684
26,206
22 543
23,283
21,656
20,721
23,722
23 377
29, 425
r
24, 116
21, 052
22, 898
24 333
71,053
64 404
22 425
23,634
71,000
59, 994
22,729
1,856
7,094
6 359
1,886
1 482
6 590
5 408
1*439
2 240
6,816
5 805
1 899
2 565
5 739
4 995
1 630
1,890
5,361
5,152
2,159
1,577
5,440
4 541
2,105
1,592
5,552
4,386
1,911
2,020
5,193
5 015
2 339
2
5
4
2
189
407
878
074
3,264
6,432
6 346
2,568
r
2, 114
r
6, 733
r
5 356
r
1, 588
1,708
5,910
5,484
1,450
2,041
6, 329
5,996
1,800
Wide-mouth containers:
Food (incl. packer's tumblers, Jelly glasses,
and fruit jars)
thous. gross. . 58, 241
Dairy products
do...
238
59,129
197
4,654
13
4,300
12
6,301
21
4,933
14
5,313
16
4,874
16
4,446
14
5,551
19
5,167
13
6,748
13
r 5, 260
14
3,776
12
4,242
9
Narrow-neck and Wide-mouth containers:
Medicinal and toilet
.do
Household and industrial
do
29, 892
4,283
31, 526
4,421
2,582
369
2,156
297
2,739
385
2 330
337
3,008
384
2,694
409
2,510
310
3 130
455
3 190
459
3,583
471
r
2,r 688
363
2,408
304
2,146
335
35,842
35, 924
39, 107
39,936
37 681
36587
37,608
36,884
35, 924
36 922
34 230
30,364
30, 227
32, 501
35, 366
1 12 328
U2005
i 13 558
i 12 592
3 473
3 182
3 777
3 259
3,632
3,167
3,218
2,916
do
7 718
7 661
1 904
2 079
2 105
1 619
do.
4,719
5,525
1,580
1 554
1,530
1,281
309
349
91
79
93
83
293
484
15 151
369
399
341
11 130
2 700
212
79
128
3 812
93
102
96
2 784
678
60
72
118
3 899
82
101
88
2 870
701
56
66
114
3 780
83
99
77
2 757
719
44
59
106
3,482
101
93
71
2,517
655
44
r
646.
4
r
7.8
128. 9
r
680.4
9.2
145.0
142 2
GLASS AND GLASS PRODUCTS
Flat glass, mfrs.' shipments
_ .
thous. $
Sheet (window) glass, shipments
Plate and other flat glass, shipments
Glass containers:
Production
Shipments, domestic, total.
Narrow-neck containers:
Food
.
Beverage
Beer
Liquor and wine
do
do
do. .
.
do
do.
do
do
.
Stocks, end of period.
do...
T
GYPSUM AND PRODUCTS (QTRLY)
Production:
Crude gypsum
Calcined
thous. sh. tons
do
Imports, crude gypsum
Sales of gypsum products:
Uncalcined
Calcined:
Industrial plasters
Building plasters:
Regular basecoat
All other (incl. Keene's cement)
Board products, total
Lath..
Veneer base
Gypsum sheathing
Regular gypsum board
Type X gypsum board
Predecoraled \vallboard._ . .
do
do
do
mil. sq ft
do
do
do
do
do
do
330
513
14 372
451
357
343
10 738
2 279
'204
TEXTILE PRODUCTS
WOVEN FABRICS:
Woven fabrics (gray goods), weaving mills:
Production, total 9
mil linear yd
Cotton
do
Manmadefiber.
do
11 098
5 666
5 336
11 761
6 416
6 214
942
444
488
3 934
2 430
2
495
902
414
479
900 2 i 130
2 506
404
2
611
489
920
404
509
830
370
453
2
1 159
2 sig
2 628
960
431
522
968 2 i 129
2 508
433
2 611
528
941
427
507
"
do
do
do
983
408
567
718
285
428
800
310
484
792
311
477
763
315
444
739
304
432
720
295
422
728
296
429
718
285
428
741
295
442
778
321
452
796
330
462
827
341
482
886
377
505
Orders, unfilled, total, end of period 9 Tf
Cotton
.._ .
Manmade
fiber
do
do
do
4 164
2* 111
2 010
3 502
1 559
1 905
4 489
2 174
2 272
4 251
2 078
2 133
3 894
1*799
2 057
3 821
1 640
2 143
3 640
1 541
2 020
3 553
1 527
1 986
3 502
1 559
1 906
3 477
1 491
1 950
3 457
l'524
1 900
3 422
1 545
1 846
3 340
1 510
1 801
3 179
1 426
1 727
3
135
496
5 012
9 202
11 603
Stocks, total, end of period 9 d*
Cotton
_
Manmade fiber __
COTTON
Cotton (excluding linters):
Production:
GinningsA
. thous. running bales
Crop estimate, 480-pound bales, net weight
thous. bales
Consumption...
do
Stocks in the United States, total, end of period
thous bales
Domestic cotton, total
do
On farms and in transit
do
Public storage and compresses
do
Consuming establishments
do
Foreign cotton, total .
do
3 13 267 4 12 596
3 13 704 4 12 958
7 279
7 777
4
575
2 573
567
543
2
706
564
509
145
12 375 * 12 596
2 712
12 958
592
587
2 679
'563
552
512,758
6 928 ' 5 680 4,716
13421 12 595 10 822
8 2^6
9 633
3 929 15 985 15 217 14 444
12 595
5 200
12 333
4,701
6,915 r 5, 668
8,211
9,620
3 916 15 975 15 206 14 434 13411 12' 586 10,813
12 319
12 586
5 187
579
722
958
1
156
5
015
1
521
1
432
9
031
2
788
350
13
160
12
836
3 346
2 788
878
2,613
4 459 rf 3 405
5 642
7 401 8 761
8 145 6 964
1 249
4 374
2 074
1 494
8 761 2 737
7 947
1,509
1
498
1
541
1*
fW7
1
413
1
029
1
224
995
1
147
1
121
1
492
1
321
1
037
1 572
1 026
14
13
15
••12
10
10
9
9
13
13
13
10
11
14
9
r
cTStocks (owned by weaving mills and billed and held for others) exclude bedsheeting,
Revised.
i Annual total; revisions not allocated to the months or quarter.
a Data
cover 5 weeks; other months, 4 weeks.
3 Crop for the year 1972.
< Crop for the year 1973.
toweling, and blanketing, and billed and held stocks of denims.
s Aug. 1 estimate of 1974 crop.
HUnfilled orders cover wool apparel (including polyester-wool) finished fabrics; production
and stocks exclude figures for such finished fabrics. Orders also exclude bedsheeting, toweling,
{Monthly revisions (1970-72) appear in "Woven Fabrics; Production, Stocks, and Unfilled
Orders, M22A—Supplement 3 (Aug. 1973), Bureau of the Census.
9 Includes data not
and blanketing.
shown separately.
A Cumulative ginnings to end of month indicated.
SURVEY OF CURRENT BUSINESS
August 1974
1972
Unless otherwise stated in footnotes below, data
through 1972 and descriptive notes are as shown
in the 1973 edition of BUSINESS STATISTICS
1973
1973
Annual
S-39
June
July
Aug.
Sept.
1974
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
TEXTILE PRODUCTS—Continued
COTTON— Continued
Cotton (excluding linters)— Continued
Exports
thous. bales..
Imports
do
Price (farm). American upland
cents per lb__
Price, Strict Low Middling, Grade 41, staple 34
(IMe") average 11 markets*
cents per lb._
500
2
388
2
329
(3)
266
6
259
3
44. 6
29.5
30.4
37.5
38.2
71. 9
46.0
52.1
66.9
80.5
17.8
9.9
9.3
.372
2
5.0
18.0
9.9
9.0
.452
4.9
18.1
9.8
8.9
.444
4.8
211.5
3,089
75
5,495
33
127.2
7
1
7
18.1
9.9
9.1
.456
5.0
35.6
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
18.3
10.4
115.9
.445
67.7
18.0
9.8
116.-2
.447
63.1
Cotton cloth:
Cotton broad woven goods over 12" in width:
Production (qtrly.) --- - mil. lin. yd-.
6,866
5,086 s 1.324
Orders, unfilled, end of period, as compared with
avg. weekly production
No. weeks' prod_.
Inventories, end of period, as compared with
nvg. weekly production --No. weeks' prod-Ratio of stocks to unfilled orders (at cotton
mills) end of period
Exports, raw cotton equiv
Imports raw cotton equiv
thous. bales..
do
MANMADE FIBERS AND MANUFACTURES
Fiber production, qtrly. total _ _
mil. Ib
Filament varn (rayon and acetate)
do
Staple, incl. tow (rayon)
_
.-do _
Noncellulosic, except textile glass:
Yarn and monofilaments
do
Staple, incl. tow
do
Textile glass
fiber.
.do
2
257
3
592
1
545
3
598
3
778
11
638
6
561
3
496
3
38.0
39.5
47.6
50.7
52.0
53.4
58.4
48.7
48.0
45.8
75.3
«66.7
76.6
78.1
68.6
62.4
63.4
56.2
55.2
55.3
18.1
9.8
18.1
9.8
9.2
.460
4.9
18.0
9.8
8.2
.409
4.4
18.1
9.8
11.4
.455
26.0
18.1
9.8
9.4
.468
5.0
18.3
9.7
9.3
.467
5.0
18.0
9.5
2 11.0
.439
25.8
17.9
9.4
9.1
.457
4.8
17.9
9.3
8.9
.447
4.7
.458
26.1
1,160
2
1,226
1,317
22.7
18.4
21.4
26.2
19.3
17.6
16.5
16.4
18.4
15.8
15.6
16.0
16.5
14.3
14.4
4.1
2.9
2.8
3.6
2.9
2.6
2.7
2.8
2.9
2.7
2.8
2.8
3.1
3.1
3.1
.18
.16
.13
.14
.15
.15
.16
.17
.16
.17
.18
.17
.19
.22
.22
409.2
735.5
459.9
680.9
37.9
56.2
35.4
54.2
33.9
58.1
42.5
49.4
43.8
60.4
44.8
57.7
43.3
56.0
44.1
53.6
43.6
58.6
52.9
59.5
51.0
51.2
51.5
68.1
51.2
54.2
7, 293. 6
653.1
713.2
8, 329. 4 2,099.3
164.7
635.3
168.2
696.7
2,077.2
153.7
172 6
2, 129. 6
158.9
187 4
2,079.3
146.2
181 2
2, 773. 3
2, 582. 4
571.6
3, 339. 6
2,969.8
688.0
827.8
765.9
172.7
842.3
738.2
170 4
856.4
745.4
181 5
858 1
723.5
170 3
Exports: Yarns and monofllaments
thous. lb._ 117,405 5 252,829
Staple, tow, and tops. _ _ _. _ _ _ d o _ _ 205,485 316, 441
21, 773
24, 730
19,802
25, 523
17, 099
21, 196
27, 451
29, 190
25, 270
29,687
27, 213
25, 025
27, 232
28, 425
29,907
34, 536
27,351
25,248
27,509
32, 515
30, 058
29,950
26,588
34,019
24, 230
39, 543
Imports: Yarns and monofilaments
Staple, tow, and tops.. __
11,281
18, 172
10, 511
13, 033
6,877
11, 032
8,242
14,487
6,986
13, 266
4,510
8,861
6,049
13,358
4,305
6,439
4,935
10, 254
5,845
10,937
5,450
8,760
8,677
11,361
do
__. _ do
249, 948
157, 857
171, 102
164, 251
14, 695
16, 276
61.6
61.5
46.3
34.0
48.9
32.5
48.4
26.5
46.3
34.0
37.2
25 9
293.7
298.1
84.0
232.2
186.5
72.5
250.0
228.6
70.2
254.8
199.6
69.4
232.2
186.5
72.5
222.9
185 9
68 8
Prices, manmade fibers, f.o.b. producing plant:
Staple: Polyester, 1.5 denier
$perlb_.
.62
*.61
.61
.61
.61
.61
.61
.61
.61
.61
.61
.61
.61
.61
.61
.61
Yarn: Rayon (viscose), 150 denier
do
Acrylic (spun), knitting, 2/20, 3-6D._do— .
1.03
1.22
1.04
1.30
1.05
1.31
1.05
1.31
1.05
1.32
1.05
1.32
1.05
1.32
1.05
1.32
1.05
1.32
1.08
1.32
1.11
1.32
'1.11
1.32
1.15
1.35
1.15
1.38
1.15
1.36
1.19
1.35
Stocks, producers', end of period:
Filament yarn (rayon and acetate)
mil. lb._
Staple, Incl. tow (rayon).. _._
do
Noncellulosic fiber, except textile glass:
Yarn and monofllaments
do__
Staple, incl. tow
...do
Textile glass
fiber
do
Manmade fiber and silk broadwoven fabrics:
Production (qtrly.). total 9
mil. lin. v d - _
Filament yarn (100%) fabrics?
do
Chiefly rayon and/or acetate fabrics
do
Chiefly nylon fabrics
. _ do
Spun yarn (100%) fab., exc. blanketing 9 --do
Rayon nnd/or acetate fabrics and blends
do....
Polyester blends with cotton
do
Filament and spun yarn fabrics (combinations
and mixtures)
mil. lin. yd...
'5,531.0 ' 6,108. 7 '1,571. 0
477.2
1, 723. 0 1, 895. 0
122.2
506.2
473.1
94.1
' 377. 1
365.8
915.3
3,062.6 3,526.8
1,547.8
500.6
115 6
86.3
879.6
1 699.4
587 4
145.1
110 5
930 0
428.2
2, 190. 1
r 435. 4
2,513.9
115.0
'659.0
105.3
571 8
99.7
622 8
98.0
656.3
113.4
118.1
114.3
'7.7 ' 2 10. 0 '6.8
1.9
22.8
2.3
2.6
2.8
2.9
2.2
1.4
2.1
'6.2
1.3
2.1
1.3
'27.8
22.0
1.6
1.1
6.3
2.0
3.0
1.1
'6.4
'1.6
2.5
1.7
27.2
22.4
2.5
1.6
'6.6
1.8
3.1
1.8
6.6
1.3
3.2
2.2
2.419
1.475
2.596
2.375
1.500
2.818
2.360
1.480
2.725
2.225
1.388
2.532
1.975
1.350
2.400
1.850
1.340
2.357
1.712
1.262
2.376
1.788
1.250
2.332
'515.5
r 474. 8
119.6
WOOL AND MANUFACTURES
Wool consumption, mill (clean basis):
Apparel class
mil Ib
Carpet class
do
Wool imports, clean yield
do
Duty-free (carpet class)
do
142.2
76.4
96.6
71.8
'109.9
41.4
59.8
40.6
'89.4
3.5
6.8
5.3
'28.5
22.9
5.6
4.7
'8.4
2.9
4.7
3.5
Wool prices, raw, clean basis, Boston:
Good French combing and staple:
Graded territory,
fine
$ per lb_.
Graded fleece, z/i blood
do
Australian, 64s, warp and half-warp - . do .
1.157
.925
1.321
2.500
1.594
3.035
2.575
1.600
3.242
2.600
1.650
3.215
2.750
1.700
3.210
Wool broadwoven goods, exc. felts:
Production (qtrly.)
101.8
106.0
30.8
mil. lin. yd._
1,415.1
437.2
109 1
85.7
817.1
2.750
1.512
2.942
24.9
2.630
1.420
2.741
20.7
1.650
1.167
2.057
25.1
FLOOR COVERINGS
Carpet and rugs:*
Rugs, carpet, and carpeting, shipments, quarterly:
259.9
Total wovpn tnftflrl othAr
mil sn vds
934.9 1.027.6
2
3
Revised. 4 1 Season average.
For 5 weeks; other months, 5 4 weeks.
Less than
500 bales.
Price not directly comparable
with earlier data.
Annual total; revisions
6
not distributed by months7 or quarters.
Effective Nov. 1,1973, Little Rock, Ark., deleted
from market average.
Preliminary season average based on sales through Mar. 1974.
9 Revised May 1973, 9.8 mil. Ibs.
r
242.9
256.6
259.8
*New series. Cotton market price (U.S. Department of Agriculture) available monthly
back to 1947. Carpet and rug shipments (Bureau of the Census) quarterly data back to 1968
are available. For 1973, data have been revised to omit estimates for rugs not specified by
kind; these estimates have been temporarily withdrawn.
9 Includes data not shown separately.
SURVEY OF CURRENT BUSINESS
S-40
Unless otherwise stated in footnotes below, data
through 1972 and descriptive notes are as shown
in the 1973 edition of BUSINESS STATISTICS
1972
1973
1973
Annual
August 1974
June
July
Aug.
Sept.
1974
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
20, 988
July
TEXTILE PRODUCTS—Continued
APPAREI4
Hosiery, shipments
__thous. doz. pairs . 228,723
Men's apparel cuttings: d"1
Suits
--- -thous. units.. 18, 174
18, 202
Coats (separate) dress and sport
do
182, 034
Trousers (separate) dress and sport
- do
Slacks (jean's-cut), casual*
.thous. doz..
~20,~9l4
Shirts dress and sport
do
228, 269
22, 267
19,851
23,066
19,982
22, 077
18, 079
14,929
17, 007
16,482
19, 783
17,358
17, 699
16, 701
18, 801
149, 747
13, 447
33, 392
1,278
1,533
13, 262
1,316
3,001
862
1,125
9,529
1,206
2,113
1,480
1,689
13,706
1,010
2,942
1,401
1,541
11, 052
1,115
2,739
1,589
1,775
13, 050
1,121
3,067
1,471
1,660
11,536
1,029
2,956
1,142
1,260
8,877
1,053
2,439
1,511
1,499
11,931
1,048
2,805
1,384
1,414
10,819
968
2,797
»• 1, 554
••1,630
'11,941
* 1, 188
' 2, 885
1,451
1,759
10, 830
1,131
2,634
1,413
1,826
10,544
1,078
2,758
559.9
6,907
300.5
467.0
" 6, 239
270.4
554.7
6,698
385.6
r 992. 3
-216.8
928. 4
840. 8
681.1
617.4
r 247. 3
r 223. 4
r 231. 2
909.5
834.5
669. 6
618. 2
239. 9
216.3
780
654
817
703
7 7
8 0
1.3
882
767
115
9.4
8 2
1.2
-•812
698
114
9.0
7.8
1.2
812
691
191
9.7
84
13
Women's misses', Juniors' apparel, cuttings:}:
Coats
thous. units _. 20, 877
221, 546
Dresses
do
13, 824
Blouses and shirts
thous. doz
5,319
Skirts
do
TRANSPORTATION EQUIPMENT
AEROSPACE VEHICLES
Orders new (not) qtrly total
mil $
XT S Government
do
Prime contract
do
Sales (net) receipts or billing*! qtrly total do
TJ S Government
do
23, 842
14, 817
21,274
21,499
13, 492
27, 034
15, 861
24, 390
24, 298
14, 488
6,099
3,709
5,567
6,532
3,723
6 908
4,442
6,252
5 646
3 597
6,907
4,170
6,202
6,476
3,792
7,228
4,235
6,582
6,234
3,523
Backlog of orders end of period 9
do
TJ S Government
do
Aircraft (complete) and parts
do
Engines (aircraft) and parts
do
Missiles, space vehicle systems, engines, propulsion units and parts
mil $
Other related operations (conversions, modifications) products services
mil $
26 922
15, 322
13, 060
2 572
29 661
16 695
13, 544
2 821
27 967
15 473
13, 507
2 763
29 229
16 318
13, 765
2 756
29,661
16, 695
13,544
2,821
30, 655
17, 407
13, 879
3 083
5,272
5 670
5,255
6 010
5,670
5,330
2 900
2,897
3,142
2,990
2 897
2 785
3, 231. 8
47, 694
1,608.7
4,598.2
64,370
2,311.0
436.9
5,376
145.2
332.2
4,630
89.0
252. 4
4,196
125.0
285 8
4 112
210.9
454.2
5,717
254.5
516.8
6,855
256.6
11,270.7 12,637.3 1, 186. 3
10, 646. 8 11,865.7 1, 122. 5
8, 823. 9 9, 657. 6
921.3
8, 352. 5 9, 078. 8
873.3
2, 446. 8 2, 979. 7
265.0
2,294.4 2, 786. 8
249.2
949.1
898.3
714.0
677.5
235.1
220.8
640.1
603.6
440.3
415.7
199.7
187.8
943.4 1, 231. 9 1, 139. 8
878.0 1, 143. 7 1, 062. 3
887.8
955.5
716.9
887.2
827.1
666.1
252.0
276.4
226.5
235.1
256.5
211.9
737.9
691.9
540.0
507.1
197.8
184.8
1,086
909
961
808
838
686
913
778
694
574
11 6
9 7
18
11.8
10.0
1.8
9.9
1.7
1,600
1,765
1,708
1,523
1,612
1,592
1,387
1,553
2.0
ratio..
2.0
Exports (Bureau of the Census):
410. 25
Passenger cars (new), assembled
thous
509. 19
376. 23
To Canada
do
452. 37
120. 62
Trucks and buses (new), assembled
do
151.65
Imports (Bureau of the Census):
2, 485. 90 2 437 34
Passenger cars (new) complete units
do
842. 30
871. 56
From Canada, total
do
429. 41
Trucks and buses 1 _
do
500.68
Truck trailers and chassis, complete (excludes
143,310 164 641
detachables) shipments ©
number
95, 879 108,940
Vans
do
20, 009
18 626
Trailer bodies (detachable) sold separate
do
20, 250
12, 790
Trailer chassis (detachable), sold separate
do
1.9
1.9
1.9
1.7
2.4
2.6
41.74
38 24
12.96
30.27
26.08
12.67
20.95
18.68
9.18
40.33
37.55
9.14
54.46
47.32
14.08
43.18
34.80
11.22
232 73
91.01
48.46
189. 15
56.34
37.68
149. 32
28.86
39.79
140. 56
B1.60
36.96
203. 04
85.62
48.86
222. 18
84.03
46.80
13 696
9 002
1 512
1,028
12,906
8,792
1,935
1,078
12, 997
8,690
963
1,012
12,915
8,441
1,069
828
15, 585
10, 384
thous.. i 4 10,488 1*11,351 <1,068.9 41,103.1 4 979. 6 4 815. 9
i 4 1,529 1*1,720 4163.7 4 167. 3 3 151. 1 4 132. 6
do
i 4 2,514 i 43 029 4 279 2 4 281. 1 3 275. 0 4 240. 8
do
Aircraft (complete):
Shipments
Alrframe weight
Exports, commercial
.
..
do
. thous. Ib
mil. $
252.2
3,856
88.7
321.5
3,437
134.6
491.6
6,332
360.8
472.7
6,310
381.7
855. 8 ' 781. 2
• 787. o
708.2
599. 9
551. 9
552.
1
501.5
r
255. 9 r 229. 3
' 235. 5 ' 206. 7
' 857. 6
' 773. 8
616.0
557. 1
MOTOR VEHICLES
Factory sales (from plants in U.S.), total
Domestic
Passenger cars, total
Domestic
Trucks and buses, total
Domestic
.
_ _
thous..
do
do
do
.do
.do
Retail sales, new passenger cars :
Total, not seasonally adjusted
-thous. .
DomesticsA
do
ImportsA
do
Total, seasonally adjusted at annual rates mil
DomesticsA
do
ImportsA
do
Retail inventories, new cars (domestics), end of
period: A
Not seasonally adjusted.
thous. .
Seasonally adjusted
.do .
10,950
9,327
1,623
1,311
1,454
11,457
9 676
1 781
178
Inventory-sales ratio, new cars (domestics) A
Registrations (new vehicles) :Q
Passenger cars
Imports, Incl. domestically sponsored
Trucks.
153
152
11.5
875
754
979
858
135
r
679
551
684
568
r 241. 7
r
r
r 910.
2
736. 9
679. 0
r 255. 4
2
777. 5
2
544. 9
2
232. 6
8.4
1.8
120
9.5
7.7
1.8
128
9.3
7.7
1.7
1,628
1,812
1,600
1,765
1,705
1,713
1,737
1,644
1,695
1,540
1,674
1,499
1,655
1,461
1,638
1,420
1,496
1,433
2.7
2.7
2.6
2.4
2.2
2.1
2.2
2.1
52.66
45.71
12.71
42.37
33.00
13.37
47.06
40.96
18.84
56. 10
49.20
23.79
64.31
53.76
23.98
59.78
51.84
19.74
51.68
47. 91
16.94
148. 03
52. 77
37.35
252. 03
74.28
51.42
245. 01
87.65
48.90
254.71
80.08
43.41
263.81
59.35
44.41
284. 62
87.05
59.90
224. 08
64.05
58.59
1,018
14,839
10,290
1,337
977
14, 201
9,434
1, 596
912
15,240
10, 130
1,887
1,027
15,273
9,508
1,190
460
16,854
10, 978
2,000
1,040
15, 564
10, 105
2,574
15, 838
10, 196
1,850
934
4 919. 5
4116.5
4 252. 2
4 888. 6
4 119. 6
4 243. 4
4 875. 6
4 141. 8
4 248. 0
4 643. 4
4 110.8
4 190. 0
3 584. 9
3 103. 4
3 178. 2
33 650. 6
114. 9
8
210. 8
3
697. 9 5 724. 3
598.9
3106.4
3
226. 2 5 229. 0
5
797. 6
55 107. 2
258. 4
4 797
4 505
8 142
7,442
50 781
47 714
6,373
6 016
13, 535
13, 410
57, 313
55, 078
5 929
5 606
9^736
9,436
60, 799
58,606
5 246
4 820
11,797
11,745
67 199
65, 380
5 862
5 701
11 246
8,921
72 622
68 689
4 003
3 876
6,731
6,231
75, 228
70, 922
5,355
5 112
10, 514
10, 345
79, 725
75, 493
4,723
4 418
13, 393
11,412
88, 335
82, 427
5,570
5,413
7,200
7,200
89,379
83, 628
5,711
o, 591
6,302
6,102
89, 320
83, 489
1 395
1 393
1,395
1 395
1 398
1,394
1,394
1,395
1,393
6.3
1, 392
6.1
121
11.7
10.2
1.5
1,360
1,478
122
9.9
8.4
1.5
1,479
1,664
949
10.1
116
9.1
7.6
1.6
126
9.2
1.4
114
9.3
818
RAILROAD EQUIPMENT
Freight cars (all railroads and private car lines):
147 535
Shipments .
number
4,464
3 727
4 647
58 252
i 42 073
4 215
Equipment manufacturers
do
3 466
4 414
54 814
1
New orders..
do
5,461
5 582
47 915 1105 765 11 664
5,461
Equipment manufacturers
do
5,282
i 42 343 1102 136 10 964
21 244
Unfilled orders, end of period
do
67 199 44 469 46 097 47, 067
Equipment manufacturers
do
17 666
65* 380 41 600 43 189 44, 408
Freight cars (revenue), class 1 railroads (AAR):§
1 396
1 402
Number owned end of period
thous
1 401
1 395
1 411
Held for repairs % of total owned
6.1
6.0
5 8
'e 3
58
98 12
97 89
Capacity (carrying) total end of mo mil tons
98 19
98 07
98 08
70.12
70.06
69.97
Average per car _'_
'.
. _ ... tons 70.38
69.53
r
5
Revised.
i Annual total includes revisions not distributed
by months.
Estimate
4
5
of production, not factory sales.
3 Excludes 2 States.
Excludes 1 State.
Excludes
3 States. ' {Revisions appear in "Men's and Women's Selected Apparel Cuttings, 1971-72,"
MA-23A Suppl., 9/73 (Bu. Census).
^Effective 1973, data reflect new benchmarks and
revised sampling; shirts include knits (from knitting mills) not included in data prior to 1973.
New series. Data cover all types of men's jeans, but exclude dungarees, overalls, and
work pants; no data available prior to 1973.
6.2
6.2
6.3
6.3
6.3
6.4
6.2
6.4
98.73
98.44
98 79
98 81
97 95
98 19
98 65
98 19
98 61
97 94
70.81
70.39
70.61
70.87
70. 98
70.20
70.31
70.56
70.76
70.38
9 Total includes backlog for nonrelated products and services and basic research.
ADomestics include U.S.-type* cars produced in the United States and Canada; imports
cover foreign-type cars and captive imports, and exclude domestics produced in Canada.
^Effective Sept. 1973 SURVEY, data include imports of separate chassis and bodies.
©Effective Feb. 1974 SURVEY, excludes shipments of dollies and converter gear.
O Courtesy of R. L. Polk & Co.; republicaticn prohibited.
§Excludes railroad-owned private refrigerator cars and private line cars.
INDEX TO CURRENT BUSINESS STATISTICS, Pages S1-S40
SECTIONS
General:
Business indicators
Commodity prices
Construction and real estate
Domestic trade
1-7
8,9
10,11
11-13
Labor force, employment, and earnings
Finance
Foreign trade of the United States
Transportation and communication
13-17
17-22
22-24
24-25
Industry:
Chemicals and allied products
Electric power and gas
Food and kindred products; tobacco
Leather and products
25, 26
26
27-30
30
Lumber and products
Metals and manufactures
Petroleum, coal, and products
Pulp, paper, and paper products
31
31-34
34-36
36,37
Rubber and rubber products
Stone, clay, and glass products
Textile products
Transportation equipment
37
38
38-40
40
Earnings, weekly and hourly
Eating and drinking places
Eggs and poultry
Electric power
Electrical machinery and equipment
7,9,14,15,20,23,24,34
Employment estimates
Expenditures, U.S. Government
Explosives
Exports (see also individual commodities)
14
13,19
26
1, 3,22-24
Failures, industrial and commercial
7
Farm income, marketings, and prices
2,3,8,9
Farm wages
16
Fats and oils
9,23,29,30
Federal Government
finance
19
Federal Reserve banks, condition of
17
Federal Reserve member banks
17
Fertilizers
9,25
Fire losses
11
Fish
29
Flooring, hardwood
31
Flour, wheat
28
Food products
1,4,6,8,9,14-16,20,22,23,27-30
Foreclosures, real estate
11
Foreign trade (see also individual commod.)
22-24
Foundry equipment
34
Freight cars (equipment)
40
Fruits and vegetables
8,9
Fuel oil
35,36
Fuels
4,8,9,23,34-36
Furnaces
Furniture
INDIVIDUAL SERIES
15,16
12,13
3,8,9,29
5,9,26
4,6,
34
4,9,12-15
Advertising
..................................
11, 16
Aerospace vehicles
............................
40
Agricultural loans
............................
17
Air carrier operations
.........................
24
Air conditioners (room)
..........................
34
Aircraft and parts
............................
7, 40
Alcohol, denatured and ethyl
...................
26
Alcoholic beverages
...........................
11, 27
Aluminum
...................................
33
Apparel
..........................
1,4,8,9, 11-16,40
Asphalt
.....................................
35,36
Automobiles, etc ....... 1, 4, 6, 8, 9, 11, 12, 20, 23, 24, 40
Gas, output, prices, sales, revenues
Gasoline
Glass and products
Glycerin
Gold
Grains and products
Grocery stores
Gross national product
Gross national product, price deflators
Gross private domestic investment
Gypsum and products
Balance of international payments
..............
3
Banking
.....................................
17, 18
Barley
......................................
27
Battery shipments
............................
34
Beef and veal
................................
28
Beverages
...........................
9,11,22,23,27
Blast furnaces, steel mills
......................
5-7
Bonds, outstanding, issued, prices, sales, yields ---- 20, 21
Brass and bronze
.............................
33
Brick
...............
. ....... .
...............
38
Building and construction materials
.............
4, 6,
7,11,31,38
Building costs
................................
10, 11
Building permits
.............................
10
Business incorporations (new), failures
..........
7
Business sales and inventories
..................
5
Butter
......................................
27
12
Hardware stores
..............................
Heating equipment
........................... 9, 34
Hides and skins
.............................. 9, 30
Highways and roads
.......................... 10, 11
28
Hogs. ,
......................................
Home electronic equipment
....................
9
Home Loan banks, outstanding advances
........
11
Home mortgages
.............................
11
Hosiery
.....................................
40
Hotels and motor-hotels
........................
25
Hours, average weekly
..........................
15
Housefurnishings
.......................
1, 4, 8, it, 12
Household appliances, radios, and television sets.
4,
8,9, 12,34
Housing starts and permits
....................
10
Cattle and calves
.............................
28
Cement and concrete products
...............
9, 11, 38
Cereal and bakery products
....................
9
Chain-store sales, firms with 11 or more stores. . .
13
Cheese
......................................
27
Chemicals
.................
5, 6, 9, 14-16, 20, 23, 25, 26
Cigarettes and cigars
..........................
30
Clay products
................................
9, 38
Coal
.................................
5,9,23,34,35
Cocoa
.......................
................
23,29
Coffee
.......................................
23,29
Coke
........................................
35
Combustion, atmosphere, heating equipment ..... 34
Communication
............................
2, 20, 25
Confectionery, sales
...........................
29
Construction:
Contracts
..................................
10
Costs
.....................................
10, 11
Employment, unemployment, hours, earnings . . 13-16
Fixed investment, structures
.................
1
Highways and roads
........................
10, 11
Housing starts
10
Materials output indexes
11
10
New construction put in place
Consumer credit
18
Consumer expenditures
1
Consumer goods output, index
4
Consumer price index
8
Copper
33
Corn
27
Cost of living (see Consumer price index)
8
Cotton, raw and manufactures
.......... 8, 9, 22, 38, 39
Cottonseed oil
30
Credit, short- and intermediate-term
18
Crops
.............................
3,8,27,28,30,38
Crude oil. .
...................................
Currency in circulation
........................
5, 35
20
Dairy products
....................
........
3, 8, 9, 27
Debits, bank
.................................
17
Debt, U.S. Government
.......................
19
Deflators, GNP
..............................
2
Department stores
............................
12, 13
Deposits, bank
...............................
17, 20
Dishwashers
....................................
34
Disputes, industrial
...........................
16
Distilled spirits. . . . .'
..........................
27
Dividend payments, rates, and yields ....... 2, 3, 20, 21
Drug stores, sales
.............................
12, 13
5,9,26
1, 35
38
26
19
8,9,22,27,28
12,13
1
2
1
9, 38
Imports (see also individual commodities)... 1,3,23,24
Income, personal
2, 3
Income and employment tax receipts
19
Industrial production indexes:
By industry
4,5
By market grouping
4
Installment credit
13,18
Instruments and related products
4,6,14,15
Insurance, life
19
Interest and money rates
18
Inventories, manufacturers* and trade
5-7,11,12
Inventory-sales ratios
5
Iron and steel
4,9,11, 20, 23,31,32
Labor advertising index, stoppages, turnover
16
Labor force
13
Lamb and mutton
28
Lead
33
Leather and products
4,9,14-16, 30
Life insurance
19
Livestock
3,8,9, 28
Loans, real estate, agricultural, bank, brokers*
(see also Consumer credit)
11,17,18,20
Lubricants
35,36
Lumber and products
4,9,11,12,14,15,20,31
Machine tools
34
Machinery
4,6,7, 9,14,15,20,23, 24, 34
Mail order houses, sales
12
Man-hours, aggregate, and indexes
15
Manmade fibers and manufactures
9,39
Manufacturers* sales (or shipments), inventories,
orders
5-7
Manufacturing employment, unemployment, production workers, hours, man-hours, earnings. . . 14-16
Manufacturing production indexes
4, 5
Margarine
29
Meat animals and meats
3,8,9,22, 23,28, 29
Medical and personal care
9
Metals
Milk
4-7,9,14,15,20,22,23,31-33
27
Mining and minerals
2, 4, 5, 9,14-16, 20
Monetary statistics
19, 20
Money supply
20
Mortgage applications, loans, rates
11,17,18,19
Motor carriers
24
Motor vehicles
1,4,6,8,9,11,20,23,40
Motors and generator*
34
National defense expenditures
1,19
National income and product
1,2
National parks, visits
25
Newsprint
23,37
New York Stock Exchange, selected data
21,22
Nonferrous metals
4,6, 7,9,20,23,33
Noninstallmcnt credit
18
Oats
Oils and fats
Orders, new and unfilled, manufactures*
Ordnance
Paint and paint materials
Paper and products and pulp
Parity ratio
Passenger cars
27
9,23,29,30
7
14,15
9,26
4-6,
9,14-16,20,23,36,37
8
1,4,6,8,9,11,12,20,23, 24,40
Passports issued
Personal consumption expenditures
Personal income
Personal outlays
Petroleum and products
25
1
2,3
2
4-6,
8,9,14,15,20,23,35,36
Pig iron
31, 32
Plant and equipment expenditures
2
Plastics and resin materials
26
Population
13
Pork
28, 29
Poultry and eggs
3,8,9,29
Price deflators, implicit, GNP
2
Prices (see also individual commodities)
8,9
Printing and publishing
4,14-16
Private sector employment, hours, earnings
13-16
Profits, corporate
2,20
Public utilities
2, 5,10,20,21, 26
Pulp and pulpwood
36
Purchasing power of the dollar
9
Radio and television
4,11,34
Railroads
2, 16, 17, 21, 24, 25, 40
Ranges
.'.
34
Rayon and acetate
39
Real estate
11,17,19
Receipts, U.S. Government
19
Recreation
8
Refrigerators
34
Registrations (new vehicles)
40
Rent (housing)
'8
Retail trade
5,7,12-16,18
Rice
28
Rubber and products (incl. plastics)
5,6,
9,14-16,23,37
Saving, personal
2
Savings deposits
17
Securities issued
20
Security markets
20-22
Services
1,8,14-16
Sheep and Iambs
28
Shoes and other footwear
9,12,30
Silver
19
Soybean cake and meal and oil
30
Spindle activity, cotton
39
Steel (raw) and steel manufactures
23,31, 32
Steel scrap
31
Stock market customer
financing
20
Stock prices, earnings, sales, etc
21,22
Stone, clay, glass products
4-6,9,14,15,20,38
Sugar
23,29
Sulfur
Sulfuric acid
Superphosphate
25
25
25
Tea imports
29
Telephone and telegraph carriers
25
Television and radio
4,11, 34
Textiles and products
4,6,9,14-16,20, 23,38-40
Tin
33
Tires and inner tubes
9,12, 13, 37
Tobacco and manufactures
5,6,8,14,15, 30
Tractors
34
Trade (retail and wholesale)
5,11,12,14-16
Transit lines, local
24
Transportation
1,2,8,14-16,20-22,24, 25
Transportation equipment
4,6, 7,14,15, 20,40
TraveL
24,25
Truck trailers
40
Trucks (industrial and other)
34,40
Unemployment and insurance
U.S. Government bonds
U.S. Government
Utilities
13,17
17-21
finance
19
2, 5,8,10, 21,22,26
Vacuum cleaners
Variety stores
Vegetable oils
Vegetables and fruits
Veterans' benefits
Wages and salaries
Washers and dryers
Water heaters
Wheat and wheat
Wholesale price indexes
Wholesale trade
Wood pulp
Wool and wool manufactures
Zinc.
34
12,13
23, 29,30
8,9
17
flour
2,3,15, 16
34
34
28
• •• •
8,9
5,7,11,14-16
j6
9,39
33
U.S. DEPARTMENT OF COMMERCE
SOCIAL AND ECONOMIC STATISTICS ADMINISTRATION
BUREAU OF ECONOMIC ANALYSIS
WASHINGTON, D.C.
20230
OFFICIAL BUSINESS
Fixed Nonresidential Business Capital
in the United States, 1925-1973
A volume presenting annual estimates of the stock of fixed nonresidential business capital in the
United States for the years 1925-73 has been published by the Bureau of Economic Analysis.
The publication, titled "Fixed Nonresidential Business
Capital in the United States, 1925-73," gives tabulations
of gross and net capital stocks, depreciation, discards, and
average ages of gross and net stocks, using alternative
assumptions as to service lives, depreciation rates, and
valuation of capital goods. Estimates are presented for
major industries (farm, manufacturing, nonfarm nonmanufacturing) and for detailed types of equipment and
structures. The investment data used to derive the capital
stock estimates are also presented, as well as a detailed
statement of the sources and methods used.
Copies of "Fixed Nonresidential Business Capital in the United States, 1925-73" can be purchased from the National Technical Information
Service, U.S. Department of Commerce, Springfield, Virginia 22151. The prices of the 544-page volume is $10.25 per paper copy and $1.45 in microfiche.
Please mention accession number COM-74-10422 when ordering.
@FedFRASER