Full text of Survey of Current Business : August 1992
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AUGUST 1992
VOLUME /2 NUMBER
SURVEY of
IN THIS ISSUE . . .
• Comprehensive Revision of State Personal Income
• Rates of Return on Direct Investment
u.s, DEPARTMENT OF COMMERCE -^ ECONOMICS AND STATISTICS ADMINISTRATION
BUREAU OF ECONOMIC ANALYSIS
AUGUST 1992
VO1UME 72 KUMBER
8
SURVEY of CURRENTBUSINESS
U.S. Department of Commerce
1
Barbara Hackman Ifcjpuiklm, Secretary!
6
8
Economics and Statistics
Administration
Jv Antonio* ViUainiJ,
Under Secretary for Ecowfaic 4ff#w$
Bureau of Economic Analysis
Carol S.Qurson, jftrector
Allan H« Iftfung, Acting
Deputy director
$ditor~in~Ghief: Douglas R. pox
Managing -Editor: Leland L Scott
Publication Staffs W. Ronnie Foster,
M. Gretchen Gibson ^ Eric B, Manning,
l>0nald J.Parschalk
SURVEY OF CURRENT BusiKEss. PubHsjbie4
monthly by the Bureau of JBcorioiiiic Analysis of the
US. Department of Commerce. Editorial correspon*
dence should be addressed to the pditpr-in-Ojief,
SX7KVEY OP CVKRENT BUSINESS, Bureau of Economic
Analysis, XJ.S* Department of Conimerce, Washing
'
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Business Situation
10
Corporate Profits
Government Sector
National Income and Product Accounts
10
29
31
Selected NIPA Tables
NIPA Charts
Reconciliation and Other Special Tables
32
Federal Personal Income Tax Liabilities and Payments:
Revised and Updated Estimates, 1959-91
37
Fixed Reproducible Tangible Wealth in the United States, 1988-91
44
The Comprehensive Revision of State Personal Income
60
U.S. Multinational Companies: Operations in 1990
79
Rates of Return on Direct Investment
87
Foreign Direct Investment in the United States: Detail for
Historical-Cost Position and Balance of Payments Flows, 1991
116
U.S. Direct Investment Abroad: Detail for Historical-Cost Position
and Balance of Payments Flows, 1991
C-pages: Business Cycle Indicators
(Seepage C-I for contents)
S-pages: Current Business Statistics
(Seepage S-36for contents and subject index)
Inside back cover: BEA Information
It incorporates <kt& from the fpilrii^ii^^
Gross Domestic Product (Aiig, 27),
Personal In<#me and Outlays (Aug. 28), aiid
iK^^
Indicators (Sept. i).
August 1992
SURVEY OF CURRENT BUSINESS
THE BUSINESS SITUATION
Daniel Larkins and
Ralph W. Morris
prepared the first
two sections of this
article; Michael W.
Webb prepared the
section on the
government sector.
CCORDING TO the "preliminary" estimates
r the second quarter, real gross domestic
product (GDP), a measure of goods and services produced in the United States, increased
1.4 percent; the "advance" second-quarter estimate, issued a month ago, had shown the same
increase.1 Real gross domestic purchases, a measure of goods and services purchased by U.S.
residents, increased 3.3 percent, 0.7 percentage
point higher than the increase shown a month
ago. The price index for gross domestic purchases increased 2.9 percent, about the same as
shown previously; the GDP price index increased
2.6 percent, i.o percentage point higher than
shown previously. (See the "Revisions" section
of this article for a discussion of the sources of
revisions in the second-quarter estimates.)
The i.4-percent increase in real GDP in the second quarter was similar to the average rate of
increase in the previous four quarters, but it was
only about one-half the size of the increase in the
first quarter of 1992 (chart i and table i). The
slowdown from the first to the second quarter
i. Quarterly estimates in the national income and product accounts are
expressed at seasonally adjusted annual rates, and quarterly changes are differences between these rates. Quarter-to-quarter percent changes are annualized.
Real, or constant-dollar, estimates are expressed in 1987 dollars and are based
on 1987 weights.
reflected decelerations in the production of structures and of services; the production of goods
increased somewhat more in the second quarter
than in the first.
CHART1
RearPrOtfUCt^^
Ch ange From Preceding Quarter
' Billit»ni987$
•'. :/''. _ ;'•'",/
60
GROSS DOMESTIC PRODUCT
40
20
0
-20
• Deputy Director. BEA is recruiting for the position of
Deputy Director. This is a career reserved position in the
Senior Executive Service, salary range: $90,ooo-$m,ooo. Application deadline: October 7, 1992. Applicants must meet
all requirements of the Senior Executive Service and technical
qualifications, including but not limited to (i) experience in
leadership and management of economic research and analysis
programs; (2) thorough knowledge of national, international,
and regional economic accounting, of econometrics, business
cycle indicators, and economic surveys, and of the structure of economic policymaking in the Federal Government;
and (3) ability to deal effectively at the highest levels and to
write clearly for technical and nontechnical audiences. For
more information, contact the BEA Administrative Office, (202)
523-0508. BEA is an Equal Opportunity Employer.
li il. , ii.li
ill
-40
i
60
i
i
PERSONAL CONSUMPTION EXPENDITURES
40
20
0
-20
.1.1 i !• 1
II
-40
40
20
0
-20
-40
40
Recruitment...
'-'''; '['.';\'- •':•:''•'. ; ; •>
20
0
-20
FIXED INVESTMENT
""•"•••1 '"
1 . 1 .1. 1
•| i l| I
CHANGE IN BUSINESS INVENTORIES
-40
40
20
0
NET EXPORTS
IB
-
B,B_
II _
• .
-20
-40
40
20
GOVERNMENT PURCHASES
0
i
-20
1989
i
1990
i
1991
Ba$0o! on Saasonaliy A^jtist^d Arinu^f Rat$s
Department of Commerce, Biireairof Economic Analysis
SURVEY OF CURRENT BUSINESS
2 • August 1992
The 3.3-percent increase in real gross domestic purchases in the second quarter was slightly
larger than the increase in the first quarter.
However, the composition of purchases changed
markedly. A sharp increase in inventory investment accounted for more than one-half of the
second-quarter increase; a sharp increase in final sales to domestic purchasers had more than
accounted for the first-quarter increase. Within
final sales, most of the i.5-percent increase in
the second quarter was accounted for by nonresidential fixed investment; most of the ^../-percent
increase in the first quarter had been accounted
for by personal consumption expenditures.
Personal consumption expenditures
Real personal consumption expenditures (PCE)
decreased 0.2 percent in the second quarter after
posting a first-quarter increase of 5.1 percent, its
largest increase in more than 5 years (table 2).
The small second-quarter change reflected lower
spending on both durable and nondurable goods
and higher spending on services.
The second-quarter weakness in PCE is consistent with the weakness shown by factors that
are frequently examined in analyzing consumer
spending.
Real disposable personal income
slowed to a i.4-percent increase in the second
Table 1.—Recent Patterns in Real Gross Domestic Product and Real Gross Domestic Purchases
[Seasonally adjusted at annual rates]
Billions of 1987 dollars
Percent change from preceding quarter
Change from preceding quarter
1992
1991
Level
1992
1991
Gross domestic product
Less' Exports of goods and services
Plus' Imports of goods and services
Equals: Gross domestic purchases
Less' Change in business inventories
Equals: Final sales to domestic purchasers
Personal consumption expenditures
Nonresidential fixed investment
.
Residential investment
Government purchases
4891.0
IV
III
I
II
35.2
17.3
1.2
0.6
2.9
1.4
-1.3
22.0
6.2
17.1
13.3
4.2
2.9
3.5
9
15.9
2.4
-.4
3.0
3.3
.7
-.9
4.7
1.5
1.5
34
14.4
-2.3
3
52
11.3
-3.0
5.1
3.0
20.1
1.7
-.2
15.3
8.9
-.6
14.7
6.7
564.1
608.8
8.1
22.3
17.2
6.0
4935.6
29.0
-4.5
36.3
40.4
9.2
21.0
6.9
-20.1
21.8
4926.5
8.0
56.3
18.8
3287.4
513.8
189.6
935.7
11.9
-4.3
5.7
-5.4
4.0
5.0
-11,4
-2.2
-6.6
4.7
-7.1
.
II
IV
III
1992:11
19
18.0
4.0
-1.3
40.3
3.7
8.3
3.9
NOTE—Dollar levels of aggregates are found in tables 1.2 and 1.6 of the "Selected NIPA Tables," and percent changes are found in table 8.1.
Table 2.—Real Personal Consumption Expenditures
[Seasonally adjusted at annual rates]
Billions of 1987 dollars
Percent change from preceding quarter
Change from preceding quarter
1992
1991
Level
1992
1991
IV
III
1992:11
Personal consumption expenditures
III
IV
I
•
II
II
3,287.4
11.9
-2.2
40.3
-1.9
1.5
-0.3
5.1
-0.2
429.0
179.4
174.3
75.3
8.1
6.1
1.1
.9
-3.3
.7
-2.5
-1.5
16.2
7.5
6.5
2.3
-3.3
-2.1
-.1
12
8.1
15.4
2.6
4.9
-3.1
1.6
-5.7
77
16.5
18.4
16.4
13.0
-3.0
-4.5
_2
Nondurable goods
Food
Clothing and shoes
Enerav '
Other
1,045.3
513.9
184.3
97.6
249.6
-1.5
-1.3
.5
.2
-1.0
-9.2
.3
-6.2
19
-1.4
14.0
3.6
6.6
1.8
2.1
-4.3
-5.0
.2
1.7
-1.1
-.6
-1.0
1.1
.8
-1.6
-3.5
.2
128
77
-2.2
5.5
2.8
15.7
7.9
3.4
-1.6
-3.8
.4
7.3
-1.7
Services
. .
Housing
Household2 operation
Energy
Other household operations
Transportation
Medical care
Other . .
1,813.1
482.9
205.9
96.1
109.9
121.3
453.0
549.9
5.2
.9
0
-.3
.3
3
4.9
-.1
10.4
1.0
-1.9
-.7
-1.2
_2
67
4.7
9.9
1.4
-3.0
-2.7
-.3
-.7
2.4
9.8
5.8
1.7
4.3
3.2
1.2
1.0
3.4
-4.7
1.2
.8
0
-1.2
1.1
-1.0
4.6
-.1
2.3
.8
-3.6
-2.9
-4.3
-.7
6.2
3.5
2.2
1.2
-5.7
-10.8
-1.1
-2.3
2.2
7.4
1.3
1.4
8.8
14.5
4.5
3.4
3.1
-3.3
Durable goods
Motor vehicles and parts
Furniture and household equipment
Other
1.Gasoline and oil, and fuel oil and coal.
2. Electricity and gas.
NOTE—Dollar levels are found in table 2.3 of the "Selected NIPA Tables," and percent changes
in major aggregates are found in table 8.1.
-e!i
SURVEY OF CURRENT BUSINESS
quarter from a 4.o-percent increase in the first.
The unemployment rate rose to 7.5 percent in the
second quarter from 7.2 percent in the first. The
Index of Consumer Sentiment (prepared by the
University of Michigan's Survey Research Center) rose only slightly during the quarter and
remained below its year-earlier level.
Expenditures for durable goods decreased 3.0
percent in the second quarter after jumping 16.5
percent in the first. Motor vehicles and parts
(mainly new domestic cars) and "other" durable
goods turned down in the second quarter; furniture and household equipment changed little
after a substantial increase.
Expenditures for nondurable goods decreased
1.6 percent in the second quarter after increasing
5.5 percent in the first. In the second quarter, food decreased sharply (to its lowest level in
almost 3 yearsXmost of the decrease was in purchased meals (that is, restaurant meals). Energy,
mainly fuel oil and coal, increased sharply in both
quarters.
Expenditures for services increased 1.3 percent
in the second quarter after increasing 2.2 percent in the first. The largest second-quarter
increases were in household operation, largely
electricity and gas, and medical care. "Other"
services decreased, reflecting a drop in brokerage
commissions.
Nonresidential fixed investment
Real nonresidential fixed investment jumped 15.3
percent in the second quarter after increasing 3.0
August 1992 • 3
percent in the first (table 3). Purchases of transportation equipment accounted for more than
two-thirds of the second-quarter increase.
Factors that are frequently examined in analyzing business investment have sent mixed signals
in recent quarters. The yield on new high-grade
corporate bonds has fallen about one and onehalf percentage points since mid-ipSp, but it held
steady in the second quarter. Corporate profits,
cash flow, and real final sales to domestic purchasers jumped in the first quarter of this year
but increased much less in the second quarter.
The capacity utilization rate in manufacturing
has been fluctuating in a narrow range about 6 to
8 percentage points below its high point in early
1989. The results of the latest Census Bureau
survey of plans for plant and equipment expenditures, released in early June, indicate that real
spending in 1992 is expected to be 6.0 percent
higher in 1992 than in 1991.
Structures decreased 4.0 percent in the second
quarter after increasing 2.7 percent in the first.
Nonresidential buildings decreased for the seventh consecutive quarter, but the decreases in
the last two quarters were considerably smaller
than those in the previous five. Industrial buildings decreased after a small increase. Commercial
buildings, now at their lowest level since 1979,
posted their tenth consecutive quarterly decrease.
Producers' durable equipment increased 24.4
percent in the second quarter after increasing 3.2
percent in the first. Much of the second-quarter
increase was in transportation equipment, mainly
in purchases of civilian aircraft. Information pro-
Table 3.—Real Gross Private Domestic Fixed Investment
[Seasonally adjusted at annual rates]
Percent change from preceding quarter
Billions of 1987 dollars
1991
Change from preceding quarter
1992
Level
1992
1991
III
1992:11
Gross private domestic fixed investment
Nonresidential
703.4
I
IV
III
1.6
12.1
-2.1
IV
II
II
22.0
1.0
-1.2
7.4
13.6
513.8
-4.3
-6.6
3.7
18.0
-3.4
-5.2
3.0
15.3
Structures
.
Nonresidential buildings including farm
Utilities
Mining exploration shafts and wells
Other
147.9
100.1
-9.2
-9.2
-4.6
-4.7
-1.5
-2.9
26.7
10.4
10.7
.1
-.9
.8
0
1.0
.6
1.3
-.6
.9
-20.8
-27.8
1.6
-27.0
48.5
-11.5
-16.3
0
3.7
0
2.7
-2.3
22.3
-19.9
49.6
-4.0
-10.8
3.1
-3.8
67.9
Producers' durable equipment
Information processing and related equipment
Industrial equipment
Transportation and related equipment
Other..
365.8
153.9
5.0
7.1
-2.1
2.7
4.4
19.4
-2.4
14.5
-.6
-25.0
-8.7
3.2
12.8
-7.5
-5.9
4.0
24.4
16.3
.6
96.5
4.7
11.3
21.7
-6.2
1.7
20.1
31.7
-23.4
14.2
8.9
11.2
52.9
0
Residential
Single-family structures
Multifamily structures
Other
65.8
84.3
61.9
189.6
103.3
12.9
73.4
NOTE.—Dollar levels are found in table 5.5 of the "Selected NIPA Tables," and percent changes
in major aggregates are found in table 8.1.
-2.3
1.7
-1.4
5.7
8.9
-1.3
-1.8
.1
0
4.8
-.1
-5.4
-1.4
4.7
4.5
-.2
.3
.2
-.1
1.3
.6
.7
6.0
23.3
-12.6
9.3
-8.5
8.3
6.7
-.8
2.4
4.0
2.7
1.3
0
14.4
52.1
-32.5
96
-1.3
-1.1
5.7
.1
13.1
SURVEY OF CURRENT BUSINESS
4 • August 1992
cessing and related equipment increased a little
more in the second quarter than in the first.
Residential investment
Real residential investment increased 8.9 percent
in the second quarter (table 3). The increase was
the fifth consecutive quarterly gain, and it followed a 20.i-percent increase in the first quarter.
The second-quarter increase reflected increases in
both single-family and multifamily construction;
the "other" component of residential investment
was unchanged.2
Single-family construction increased much le§s
in the second quarter than in the first. The slowdown reflected a drop in single-family housing
starts from 1.05 million (seasonally adjusted annual rate) in the first quarter to 0.99 million in
the second (chart 2). Multifamily construction
increased for the first time in 3 years.
In the "other" component, a small increase
in improvements offset a small drop in brokers' commissions on house sales. House sales
were slightly lower in the second quarter than in
the first, despite a continued slide in mortgage
interest rates (chart 3).
Inventory investment
Real inventory investment—that is, the change
in business inventories—increased $21.8 billion
in the second quarter, as businesses added $9.2
2. The "other" component includes additions and alterations, major replacements, mobile home sales, brokers' commissions on house sales, and
residential equipment.
billion to inventories after reducing them $12.6
billion in the first quarter (table 4). Inventory investment had decreased $20.1 billion in
the first quarter. The sharp upswing in inventory investment was accounted for by nonfarm
inventories.
Nonfarm inventories increased $8.4 billion in
the second quarter after decreasing $10.7 billion
in the first. The turnaround was accounted for
by wholesale and retail trade inventories.
Wholesale trade inventories increased $6.2 billion in the second quarter after decreasing $5.6
billion in the first. The upswing was mainly accounted for by merchant wholesalers of durable
goods—particularly machinery, equipment, and
supplies, motor vehicles and parts, and electrical goods. Inventories of merchant wholesalers
of nondurable goods decreased in the second
quarter after increasing in the first.
Retail trade inventories increased $11.4 billion
in the second quarter after increasing $0.5 billion
in the first. Inventories of nondurable goods increased after a decrease; most of the turnaround
was in inventories of food stores and department
stores. Inventories of durable goods increased
more in the second quarter than in the first. Inventories held by retail auto dealers increased at
about the same rate in the second quarter as in
the first.
Manufacturing inventories decreased $7.1 billion in the second quarter, the fifth consecutive
quarter of inventory reduction. Inventories of
durable goods continued to decrease; the de-
Housing Starts
Miftabf units
2,0
:
j/\n
MortgageCommitments
- V-3^^,
^^X^
1,5
^ Prime Rate
«-i
—
to
/^
0.6
3-Month Treasury Bills
v
2- 1 1 1 1 1 1 1 1 1 1 1 J 1 1 1 j 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1
1992
intt^l-Rates
&$, Opjiartment of Commerce, iu
''iti$^
:j^^
:
. • v;v;v •
SURVEY OF CURRENT BUSINESS
creases in the past several quarters have been
concentrated in inventories of transportation
equipment (mainly aircraft), primary metals, and
industrial equipment. Inventories of nondurable
goods increased less in the second quarter than
in the first.
Other nonfarm inventories decreased $2.1 billion in the second quarter. The decrease was
another in a long series of reductions that was
interrupted by a modest increase in the first
quarter,
Farm inventories increased $0.7 billion in the
second quarter after decreasing $1.9 billion in
the first. Inventories of crops increased after a
decrease; the upswing reflected both a pickup
in crop output and a slowdown in open-market
sales. Inventories of livestock decreased in both
quarters; the second-quarter decrease reflected
weakness in livestock output.
Reflecting the second-quarter increases in nonfarm inventories and in final sales of domestic
businesses, the constant-dollar ratio of nonfarm
inventories to final sales was unchanged at 2.58,
August 1992 • 5
the low end of the range of 2.58 to 2.64 of the
last 3 years.
Net exports of goods and services
Real net exports decreased sharply in the second
quarter after decreasing slightly in the first (table 5). The second-quarter decrease reflected a
o.p-percent decrease in exports and a 15.9-percent
increase in imports.
The decrease in exports in the second quarter
was due to services, which dropped 4.7 percent
after increasing 8.9 percent. Merchandise exports
increased 0.6 percent after increasing 0.8 percent.
Agricultural exports decreased after increasing
in the previous three quarters. Nonagricultural
exports increased 1.7 percent, its seventh consecutive quarterly increase; exports of autos, capital
goods (mainly computers), and nonautomotive
consumer goods were up in the second quarter.
The sharp increase in imports in the second
quarter was mainly due to merchandise, which
increased 19.9 percent after increasing 4.9 percent. Imports of petroleum products jumped
Table 4.—Change in Real Business Inventories
[Billions of 1987 dollars; seasonally adjusted at annual rates]
Level
Change from preceding quarter
1991
II
Change in business inventories
Farm
Nonfarrn
Manufacturing
Wholesale trade
Retail trade
IV
III
II
I
0.6
7.5
-12.6
9.2
21.0
4.1
1.6
-4.2
-1.9
.7
-2.5
11.8
-10.7
8.4
23.5
-11.3
-8.7
-5.6
-2.8
-3.6
-1.0
-7.6
0
12.8
6.5
6.3
-6.2
13.3
12.3
6.2
.5
4.8
-.9
13.2
-2.6
3.8
-7.1
11.4
11.1
11.1
2.0
9.1
4.6
6.8
-4.3
3.2
-2.1
1992
II
I
IV
III
-20.4
-24.5
-11.4
-11.1
1.7
4.5
Automotive
Other retail trade
Other
1991
1992
6.9
-20.1
-5.8
2.3
12.8
-3.7
13.3
-22.5
2.6
-18.9
-11.8
5.7
-17.5
5.8
-.5
-7.4
6.9
3.6
-2.6
21.8
2.6
19.1
1.6
11.8
10.9
-.2
11.1
-5.3
NOTE.—Dollar levels for most inventories are found in table 5.13 of the "Selected NIPA Tables,"
and dollar changes are found in table 5.11.
Table 5.—Real Net Exports of Goods and Services
[Seasonally adjusted at annual rates]
Billions of 1987 dollars
Percent change from preceding quarter
Change from preceding quarter
1991
1992
Level
1992
1991
IV
III
1992:11
IV
III
Net exports of goods and services
-44.7
-14.2
11.1
Exports of goods and services ..
Merchandise
Agricultural products
Nonagricultural products
Services
564.1
408.7
8.1
5.1
3.4
1.7
2.9
17.2
12.1
Imports of goods and services
Merchandise
Petroleum and products ..
Nonpetroleum products
Services
608.8
510.6
37.7
371.0
155.4
.
51.1
459.5
98.1
NOTE.—Dollar levels are found in tables 4.2 and 4.4 of the "Selected NIPA Tables," and percent changes in major aggregates are found in table 8.1.
22.3
23.0
.9
22.1
-.6
1.8
10.3
5.0
6.0
4.3
-5.9
10.2
1.7
II
'
II
I
-1.0
4.0
.8
.6
.2
3.3
5.0
5.8
.2
5.6
-.8
-23.2
-1.3
.6
-1.0
1.6
-1.9
22.0
22.6
4.4
18.2
-.7
6.2
5.3
48.2
1.9
8.2
17.1
21.8
7.2
23.8
-2.4
13.3
12.8
21.4
12.0
14.1
4.2
3.6
38.0
9.9
7.1
2.9
.8
6.4
.2
8.9
3.5
4.9
1.7
5.2
-3.2
-.9
.6
-9.9
1.7
-4.7
15.9
19.9
43.4
17.5
-2.8
SURVEY OF CURRENT BUSINESS
6 • August 1992
43.4 percent after a small increase. Imports of
nonpetroleum products increased 17.5 percent, up
from a 5.2-percent increase; about two-thirds of
the second-quarter increase was in nonautomotive capital goods. Imports of services decreased
2.8 percent after decreasing 3.2 percent.
Revisions
The preliminary second-quarter estimate of a 1.4percent increase in real GDP is the same as last
month's advance estimate (table 7). Substantial
revisions in inventory investment and net exports
were largely offsetting. An $8.2 billion upward revision in inventory investment primarily reflected
the incorporation of newly available data for June
on inventories of merchant wholesalers and of
retailers. A downward revision of $8.8 billion in
net exports was more than accounted for by a
$12.9 billion upward revision in imports. About
two-thirds of the upward revision in imports
was accounted for by the incorporation of newly
available data for June on merchandise trade; the
remainder reflected corrections to import prices
that are described below.
For real gross domestic purchases, the preliminary estimate of a 3.3-percent increase is 0.7
percentage point higher than the advance estimate. (Revisions in;gross domestic purchases are
generally not affected by revisions in exports and
imports.)
The increase in the fixed-weighted price index for gross domestic purchases was revised up
o.i percentage point. The increase in the fixedweighted price index for GDP was revised up
considerably more—i.o percentage point. The
large revision was mainly due to corrections to
the prices of imported industrial materials and
supplies and imported capital goods.
Government purchases
Real government purchases decreased 0.6 percent
in the second quarter after increasing 1.7 percent
in the first (table 6). Federal Government purchases decreased for the fifth consecutive quarter;
the decreases were more than accounted for by
reductions in national defense purchases. State
and local government purchases changed little in
the second quarter after a substantial increase in
the first.
Federal defense purchases decreased 3.7 percent
in the second quarter after decreasing 7.7 percent in the first. The second-quarter decrease was
spread across all types of purchases other than
structures, but more than one-half of it was accounted for by a decrease in purchases of military
hardware.
Federal nondefense purchases increased 3.3
percent in the second quarter after increasing 9.7
percent in the first. The slowdown was accounted
for by both Commodity Credit Corporation
inventory change and "other" nondefense purchases. "Other" nondefense purchases increased
2.6 percent in the second quarter, one-half as
much as in the first; the slowdown was accounted
for by structures, which decreased after a small
increase.
State and local government purchases increased
o.i percent in the second quarter after increasing
5.1 percent in the first. The slowdown was attributable to structures, which decreased after an
unusually large increase.
Corporate Profits
According to preliminary estimates, profits from
current production—profits before tax plus inventory valuation adjustment (IVA) and capital consumption adjustment (ccAdj)—increased
Table 6.—Real Government Purchases
[Seasonally adjusted at annual rates]
Percent change from preceding quarter
Billions of 1987 dollars
1991
Change from preceding quarter
1992
Level
1991
1992
III
1992:11
Government purchases
I
IV
III
3.9
935.7
-5.4
-7.1
Federal
National defense
Nondefense
Commodity Credit Corporation inventory change
Other
373.7
-6.6
-7.0
-9.6
State and local
Structures
Other
561.9
263.1
110.6
.1
110.5
85.7
476.2
NOTE.—Dollar levels are found in table 3.8B of the "Selected NIPA Tables," and percent
changes are found in table 8.1.
90
-2.9
2.0
1.7
54
2.5
1.1
1.4
1.2
2.2
1.9
1.7
.2
6.9
6.3
.6
.4
-1.6
-1.0
.6
-1.1
IV
II
II
-0.6
-2.3
-1.6
-2.5
-6.5
-9.4
1.5
-9.0
-13.0
2.3
-3.0
-7.7
9.7
-1.7
-3.7
3.3
7.9
6.5
5.3
2.6
.9
12.0
8
1.4
8.9
.2
5.1
35.1
.5
.1
-5.4
1.1
.9
.2
.7
.1
-1.2
1.3
-3.0
1.7
-1.3
SURVEY OF CURRENT BUSINESS
$6.6 billion in the second quarter after increasing $36.9 billion in the first (table 8). Profits
from the domestic operations of nonfinancial
corporations increased $16.6 billion after increasing $20.4 billion; both increases mainly
reflected increases in unit profits. Profits from
the domestic operations of financial corporations decreased $3.8 billion after increasing
$10.7 billion, and profits from the rest of the
world decreased $6.3 billion after increasing $5.8
billion.
Cash flow from current production, a profitsrelated measure of internally generated funds
available to corporations for investment, increased $0.3 billion after increasing $25.5 billion.
Cash flow as a percentage of nonresidential fixed
investment decreased to 89.3 percent from 92.3
percent.
Table 7.—Revisions in Selected Real NIPA Components,
Second Quarter 1992
[Seasonally adjusted at annual rates]
Gross domestic product
Less: Exports of goods and services
Plus: Imports of goods and services
Equals: Gross domestic purchases
Billions of
1987 dollars
Percent change
from preceding
quarter
Preliminary
estimate
minus
advance
estimate
PrelimiAdvance nary
esestimate timate
0.5
4.1
12.9
9.2
Personal consumption expenditures
Durables
Nondurables
Services
.8
-.3
-.1
1.1
Fixed investment
Nonresidential
Residential
Change in business inventories . .
Nonfarm
Farm
2.2
2.1
.1
8.2
8.2
0
Government purchases
Federal
State and local
-1.9
-1.9
-.1
1.4
-.9
15.9
2.6
3.3
-.3
-.2
-3.0
-1.6
1.3
-2.7
-1.6
1.0
12.1
13.5
8.7
.3
.3
.1
13.5
15.3
8.9
-.6
17
.1
Index
numbers,
1987=1 00 l
GDP price index (fixed weights)
Gross domestic purchases price index (fixed
weights)
.3
1.6
2.6
0
2.8
2.9
1. Not at annual rates.
NOTE.—Preliminary estimates for the second quarter of 1992 incorporate the following
revised or additional major source data that were not available when the advance estimates
were prepared a month ago.
Personal consumption expenditures: Revised retail sales for May and June, and consumers'
share of new car purchases for May.
Nonresidential fixed investment: Construction put in place for May (revised) and June,
manufacturers' shipments of machinery and equipment for May (revised) and June, and
business' share of new car purchases for February.
Residential investment: Construction put in place for May (revised) and June.
Change in business inventories: Manufacturing and trade inventories for May (revised) and
June.
Net exports of goods and services: Merchandise exports and merchandise imports for May
(revised) and June.
Government purchases of goods and services: Federal outlays for June, and State and
local construction put in place for May (revised) and June.
Wages and salaries: Revised employment, average hourly earnings, and average weekly
hours for May and June.
GDP prices: Detailed merchandise export and import price indexes for April through June,
values and quantities of petroleum imports for June, and housing prices for the quarter.
Profits by industry.—Profits before tax with IVA
is the best measure of industry profits because
estimates of the CCAdj by industry are not available. According to this measure, profits arising
from domestic operations of nonfinancial corporations increased $13.0 billion after increasing
$11.4 billion. Manufacturing profits were up
substantially after a similar gain in the first quarter. Trade profits were up substantially after
decreasing. Both transportation and public utilities profits and "other" profits decreased after
first-quarter increases.
Profits arising from domestic operations of
financial corporations decreased $4.3 billion after increasing $10.4 billion.
Decreases were
widespread.
Profits from the rest of the world decreased
$6.3 billion after increasing $5.8 billion. This
component of profits measures receipts of profits from foreign affiliates of U.S. corporations
less payments of profits by U.S. affiliates of
foreign corporations. In the second quarter, receipts decreased slightly and payments increased
substantially.
Table 8.—Corporate Profits
[Seasonally adjusted at annual rates]
Level
1.4
6.3
-3.8
August 1992 •
Change from
preceding
quarter
1992:11
1992:1
1992:11
Billions of dollars
Profits from current production
Domestic
Financial
Nonfinancial
Rest of the world
IVA
CCAdj
Profits before tax
Profits tax liability
Profits after tax
Profits by industry:
Profits before tax with IVA
Domestic
Financial
Nonfinancial
Manufacturing
Trade
Transportation and public utilities
Other
Rest of the world
Receipts (inflows)
Payments (outflows)
390.6
328.2
55.8
272.3
62.4
-15.9
27.4
379.1
144.5
234.6
363.2
300.8
65.8
234.9
109.3
46.5
45.4
33.7
62.4
66.8
4.3
36.9
31.1
10.7
20.4
5.8
6.6
12.9
-3.8
16.6
-6.3
-6.1'
9.2
33.8
11.4
22.3
-10.5
4.1
13.0
8.1
4.9
27.6
21.8
10.4
11.4
10.0
-4.6
3.8
2.2
5.8
8.0
2.2
2.5
8.8
-4.3
13.0
11.8
6.6
-4.0
-1.4
-6.3
-.3
5.9
Dollars
Unit prices, costs, and profits of domestic nonfinancial corporations:
Unit price
Unit labor cost
Unit nonlabor cost
Unit profits from current production
1.152
0.003
0.006
.761
.293
.099
-.001
-.002
.007
.001
0
.006
Levels of these and other profits series are found in tables 1.14, 1.16, 6.16C, and 7.15 of
the "Selected NIPA Tables."
IVA Inventory valuation adjustment
CCAdj Capital consumption adjustment
7
SURVEY OF CURRENT BUSINESS
8 • August 1992
Profits before tax (PBT) and related measures.—
PBT increased $13.0 billion in the second quarter.
The difference between this increase and the $6.6
billion increase in profits from current production reflects changes in the IVA and in the ccAdj.
The IVA is an estimate of inventory profits with
the sign reversed. Inventory profits increased
$10.5 billion, reflecting an upswing in prices of
inventoried goods. The Producer Price Index, a
major source for inventory prices, increased at
an annual rate of 4.2 percent (not seasonally adjusted) in the second quarter after decreasing i.o
Table 9.—Government Sector Receipts and Expenditures
[Billions of dollars, seasonally adjusted at annual rates]
Level
Change from preceding quarter
Government sector
Receipts
Expenditures
Surplus or deficit (-)
1,809.5
2,090.8
-281.3
1992
1991
1992: II
II
III
10.5
70.8
-60.3
23.0
32.9
-9.9
2.7
10.4
I
II
12.7
43.7
25.6
61.6
-31.1
-36.0
13.5
22.2
-8.7
IV
Federal Government
Receipts
1,149.1
Personal tax and nontax receipts
Corporate profits tax accruals
Indirect business tax and nontax accruals
Contributions for social insurance
463.2
118.6
-1.6
79.8
-1.0
487.5
Expenditures
Purchases
National defense
Nondefense
Of which: Commodity Credit Corporation inventory
change
Transfer payments (net)
To persons
To rest of the world (net)
Of which: Contributions for Operation Desert Storm
Grants-in-aid to State and local governments
Net interest paid
Subsidies less current surplus of government enterprises
Subsidies
Of which: Agricultural subsidies
Less: Current surplus of government enterprises
Less1 Wage accruals less disbursements
Surplus or deficit (-)
1.3
4.0
.3
3.4
1.9
4.8
1.8
-1.3
-1.6
2.5
2.1
13.9
-3.8
8.9
-1.6
10.3
1,448.7
65.0
19.2
39.4
44.4
445.4
312.3
133.1
-1.3
-6.5
-2.7
-4.0
-6.4
-7.2
-1.1
-.2
615.2
605.9
9.3
-1.1
53.2
-3.2
174.1
187.1
5.2
8.6
44.6
44.2
4.7
0
7.6
5.4
-.5
1.4
.9
1.9
-.6
-299.6
-62.3
834.5
15.4
26.9
31.6
10.4
1.4
-1.6
30.7
5.0
25.7
28.0
.7
-1.8
20.4
13.0
7.4
3.8
4.2
5.8
-5.2
6.4
.6
4.0
16.2
.4
-1.3
5.3
1.7
1.3
.6
5.4
8.0
43.9
33.2
10.7
12.8
-2.6
-1.4
-.6
0
-.5
0
9.0
.3
1.1
.7
.3
-.5
0
-8.8
-37.7
-30.5
-10.4
14.2
21.1
13.2
1.6
-1.4
-8.6
-9.2
-9.1
-.5
.4
10.2
3.3
12.0
11.4
11.5
1.5
-3.2
-2.0
-2.5
-2.7
State and local governments
Receipts
Personal tax and nontax receipts
Corporate profits tax accruals
Indirect business tax and nontax accruals
Contributions for social insurance
Federal grants-in-aid
152.9
25.9
..
Exoenditures
Purchases
Of which' Structures .
Transfer payments to persons
Net interest paid
Less* Dividends received by government
Subsidies less current surplus of government enterprises
Subsidies
Less: Current surplus of government enterprises
Less: Wage accruals less disbursements
Surplus or deficit (—)
Social insurance funds
Other
418.2
63.4
174.1
816.2
664.0
2.0
.3
4.5
1.0
7.6
13.4
0
4.6
.1
8.4
1.0
.2
-.4
0
.4
0
18.3
2.0
58.0
-.5"
-39.7
2.5
92.6
229.4
-44.3
10.0
-22.9
.4
23.3
NOTE.-Dollar levels are found in tables 3.2 and 3.3 of the "Selected NIPA Tables."
1.1
.8
9.8
.8
1.6
15.3
5.2
2.5
9.1
1.1
0
-.1
0
.1
0
-1.1
-.7
-.4
5.0
-.5
5.4
1.0
10.2
14.5
3.5
.6
9.5
1.3
.2
.3
0
-.3
0
1.0
2.5
7.5
.7
1.5
18.6
8.5
5.1
8.9
1.2
.1
.1
0
-.1
0
16.7
1.7
1.7
3.6
.7
9.0
15.0
6.0
-1.0
8.7
1.1
.3
-.4
0
.4
0
6.6
-5.5
1.7
-.6
7.2
-1.0
-4.5
-.4
2.1
percent in the first. ccAdj is the difference between the predominantly tax-based depreciation
measure that underlies PBT, on the one hand, and
BEA'S estimate of the consumption of fixed capital, on the other; the ccAdj increased $4.1 billion
in the second quarter.
Government Sector
The fiscal position of the government sector continued to deteriorate in the second quarter of
1992, but by less than in the preceding two
quarters. The combined deficit of the Federal
Government and of State and local governments
increased $8.7 billion, to $281.3 billion, after a
first-quarter increase of $36.0 billion (table 9).
In the second quarter, the Federal Government
deficit increased $10.4 billion, and the State and
local surplus increased $1.7 billion.
Federal
The Federal Government deficit increased to
$299.6 billion, as expenditures increased more
than receipts.
Receipts increased $5.8 billion in the second
quarter after increasing $13.9 billion in the first.
The deceleration was attributable largely to a
slowdown in contributions for social insurance.
Contributions for social insurance increased
$4.0 billion after increasing $10.3 billion; the
first-quarter increase was boosted by increases
due to changes in four programs on January i,
1992: Maximum taxable wages for social security, maximum taxable earnings for social security contributions by the self-employed, monthly
medicare insurance premiums, and contributions
for military retirement.
Corporate profits tax accruals increased $6.4
billion after increasing $8.9 billion; the deceleration reflected the pattern of corporate profits.
Personal tax and nontax receipts declined $5.2
billion after declining $3.8 billion; the declines
were due largely to a revision to the income-taxwithholding tables in March. Indirect business
tax and nontax payments increased $0.6 billion
after decreasing $1.6 billion; the turnaround was
primarily attributable to customs duties, which
increased $0.7 billion after decreasing $1.8 billion.
Expenditures increased $16.2 billion after increasing $44.4 billion. The deceleration was attributable largely to a sharp slowdown in transfer
payments.
Transfer payments increased $5.4 billion after increasing $43.9 billion. Transfer payments
SURVEY OF CURRENT BUSINESS
to persons increased $8.0 billion after increasing $33.2 billion. The first-quarter increase was
boosted significantly by cost-of-living increases
in social security and other programs and by
increases in benefits under the Emergency Unemployment Compensation Program enacted in
November 1991. Transfer payments to the rest of
the world decreased $2.6 billion after increasing
$10.7 billion. Foreign transfers continued to reflect the flow of contributions from U.S. coalition
partners for Operation Desert Storm, increasing
$1.4 billion after decreasing $12.8 billion. These
contributions, which peaked in the first quarter
of 1991, are treated in the NIPA government sector as negative transfer payments. Other transfer
payments to the rest of the world declined $1.2
billion in the second quarter after declining $2.1
billion in the first.
Purchases increased $0.4 billion after increasing
$4.2 billion. The deceleration was in nondefense purchases; defense purchases decreased $1.3
billion after decreasing $1.1 billion. Nondefense
purchases increased $1.7 billion after increasing
$5.3 billion. The deceleration in nondefense
purchases was largely attributable to the following: The Commodity Credit Corporation
inventory change, which increased $0.6 billion after increasing $1.3 billion; compensation paid to
Federal employees, which increased $0.1 billion
after increasing $1.8 billion; and purchases by the
National Aeronautics and Space Administration,
which declined $0.4 billion after increasing $1.1
billion.
Among the other expenditures categories,
grants-in-aid to State and local governments increased $9.0 billion after increasing $1.5 billion;
the acceleration was largely attributable to medicaid grants, which increased $6.2 billion after
decreasing $2.1 billion. Net interest paid increased $0.3 billion after decreasing $3.2 billion.
Subsidies less the current surplus of government
enterprises increased $1.1 billion after decreasing $2.0 billion; the upswing was attributable to
agricultural subsidies.
State and local
The State and local government surplus increased
to $18.3 billion, as receipts increased more than
expenditures.
Receipts increased $16.7 billion in the second quarter after increasing $13.2 billion in the
first. The acceleration was attributable to Federal
grants-in-aid, which increased $9.0 billion after
increasing $1.5 billion. Personal tax and nontax
receipts increased $1.7 billion after increasing $1.0
billion. Indirect business tax and nontax accruals
increased $3.6 billion after increasing $7.5 billion; most of the deceleration was in sales taxes,
which reflected a sharp deceleration in retail sales.
Corporate profits tax accruals increased $1.7 billion after increasing $2.5 billion; the slowdown
reflected the pattern of corporate profits. Contributions for social insurance increased $0.7 billion
in both quarters.
Expenditures increased $15.0 billion after increasing $18.6 billion. Purchases increased $6.0
billion after increasing $8.5 billion. The deceleration was more than accounted for by a
downswing in purchases of structures, which decreased $1.0 billion after increasing $5.1 billion.
The downswing in structures was partly offset by
an acceleration in compensation of employees,
which increased $7.3 billion after increasing $4.6
billion. All other expenditure categories combined increased $9.0 billion after increasing $10.1
billion. H
August 1992
SURVEY OF CURRENT BUSINESS
1O
NATIONAL INCOME AND
August 1992
PRODUCT ACCOUNTS
Selected NIPA Tables
New estimates in this issue: Second quarter 1992, preliminary.
The selected set of national income and product accounts (NIPA) tables shown in this section presents quarterly estimates, which are updated monthly. (In most tables, the annual estimates are also shown.) Alternative
quantity and price measures are not yet available; leaders are shown for these parts.
The tables shown are available on the day of the gross domestic product (GDP) news release on printouts
and diskettes on a subscription basis or from the Commerce Department's Economic Bulletin Board. Most
shown in this section are available, beginning with 1959, on diskette or magnetic tape. For order information,
write to the National Income and Wealth Division (BE-54), Bureau of Economic Analysis, Washington, DC 20230,
or call (202) 523-0669.
NOTE.—This section of the SURVEY is prepared by the National Income and Wealth Division and the
Government Division.
Table 1.1—Gross Domestic Product
Table 1.2.—Gross Domestic Product in Constant Dollars
[Billions of dollars]
[Billions of 1987 dollars]
Seasonally adjusted at annual rates
Seasonally adjusted at annual rates
1991
1990
1991
I
Gross domestic product
....
Personal consumption expenditures
Durable goods
Nondurable goods
Services
Gross private domestic investment
Fixed investment .
Nonresidential
Structures
Producers' durable
equipment
Residential
Change in business inventories
Nonfarm
Farm
Net exports of goods and
services
Exports
Imports
Government purchases
Federal
National defense
Nondefense
State and local
1992
II
I
IV
III
I
464.3 446.1 439.5 441.4 453.0 450.4 469.4 469.5
1,224.5 1,251.5 1,245.0 1,254.2 1,255.3 1,251.4 1,274.1 1,277.3
2,059.7 2,190.1 2,137.2 2,176.3 2,205.9 2,241.1 2,279.3 2,307.2
799.5
721.1
705.4
710.2
732.8
736.1
722.4
771.9
793.2
577.6
201.1
731.3
541.1
180.1
733.9
551.4
190.0
732.0
545.8
185.2
732.6
538.4
175.6
726.9
528.7
169.7
738.2
531.0
170.1
762.2
549.2
169.0
376.5
215.6
360.9
190.3
361.4
182.6
360.6
186.2
362.8
194.2
358.9
198.2
360.8
207.2
380.2
213.0
-10.2
-10.3
0
285
-27.4
11
21 8
-27.0
5.2
-1.2
-68.9
-21.8
-28.7
15.3
27.1
557.0
625.9
598.2
620.0
573.2
602.0
594.3
609.6
602.3
629.5
.2
1.4
9.2
14.5
-5.3
-16.0
622.9
638.9
-15.8
-13.3
-2.4
-8.1
628.1
636.2
9.7
9.0
.7
-36.6
625.9
662.5
1,043.2 1,090.5 1,087.5 1,090.8 1,093.3 1,090.3 1,103.1 1,109.4
426.4
314.0
112.4
616.8
447.3
323.8
123.6
643.2
451.3
332.4
118.8
636.3
449.9
325.9
124.0
640.8
447.2
321.9
125.3
646.0
440.8
314.7
126.1
649.5
445.0
313.6
131.4
658.0
445.4
312.3
133.1
664.0
Gross domestic product
Personal consumption expenditures
Durable goods
Nondurable goods
Services
Gross private domestic investment
Fixed investment
Nonresidential
Structures
Producers' durable
equipment
Residential ...
Change in business inventories
Nonfarm
Farm
Net exports of goods and
services
1992
1991
II
3,748.4 3,887.7 3,821.7 3,871.9 3,914.2 3,942.9 4,022.8 4,053.9
NOTE—Percent changes from preceding period for selected items in this table are shown in table 8.1.
1990
5,522.2 5,677.5 5,585.8 5,657.6 5,713.1 5,753.3 5,840.2 5,898.6
6.3
3.3
3.1
1991
II
IV
III
I
II
4,877.5 4,821.0 4,796.7 4,817.1 4,831.8 4,838.5 4,873.7 4,891.0
3,260.4 3,240.8 3,223.5 3,239.3 3,251.2 3,249.0 3,289.3 3,287.4
429.0
439.3 414.7 412.0
411.3 419.4 416.1 432.3
1,056.5 1,042.4 1,043.0 1,046.3 1,044.8 1,035.6 1,049.6 1,045.3
1,764.6 1,783.7 1,768.5 1,781.8 1,787.0 1,797.4 1,807.3 1,813.1
739.1
661.1
646.0
649.5
672.0
676.9
668.9
712.6
732.9
538.1
179.1
670.4
500.2
157.6
671.1
507.0
166.8
669.8
503.0
162.2
671.4
498.7
153.0
669.3
492.1
148.4
681.4
495.8
149.4
703.4
513.8
147.9
359.0
194.8
342.6
170.2
340.2
164.1
340.8
166.9
345.8
172.6
343.7
177.3
346.4
185.6
365.8
189.6
-9.3
-9.6
-25.1
-24.7
-.4
-20.4
-24.5
4.1
-1.0
6.2
3.7
2.5
.3
.6
1.6
7.5
11.8
-4.2
-12.6
-10.7
-1.9
9.2
8.4
.7
-51.8
-21.8
-17.9
-17.4
-31.6
-20.5
-21.5
-44.7
510.0
561.8
539.4
561.2
515.9
533.8
536.1
553.5
544.2
575.8
561.4
581.8
565.4
586.8
564.1
608.8
Government purchases
929.9
941.0
945.1
945.6
940.2
933.1
937.0
935.7
Federal
National defense
Nondefense
State and local
383.6
283.3
100.3
546.3
388.3
282.8
105.5
552.7
394.1
291.8
102.2
551.0
393.8
287.6
106.2
551.8
387.2
280.6
106.6
553.0
378.2
271.0
107.2
554.9
375.3
265.6
109.7
561.8
373.7
263.1
110.6
561.9
Exports
Imports
NOTE—Percent changes from preceding period for selected items in this table are shown in table 8.1.
SURVEY OF CURRENT BUSINESS
Table 1.3.—Gross Domestic Product by Major Type of Product
August 1992
Table 1.4.—Gross Domestic Product by Major Type of Product
in Constant Dollars
[Billions of dollars]
[Billions of 1987 dollars]
Seasonally adjusted at annual rates
1990
1991
Gross domestic product
Final sales of domestic
product
Change in business inventories
Goods '
III
IV
5,515.9 5,687.7 5,614.4 5,679.4 5,712.9 5,744.2 5,855.9 5,888.9
6.3
-10.2
-28.5
-21.8
.2
9.2
-15.8
Durable goods
Final sales
Change in business inventories
Nondurable goods
Final sales
Change in business inventories
.. ..
9.7
2,160.0 2,192.7 2,186.8 2,200.9 2,194.9 2,188.4 2,233.6 2,229.8
6.3
-10.2
-28.5
-21.8
.2
9.2
-15.8
9.7
919.7
920.6
888.4
907.6
861.9
897.3
890.2
916.8
903.8
910.8
897.6
905.7
904.3
923.6
940.5
930.7
—9
-19.2
-35.4
-26.5
-7.0
-8.1
-19.3
9.8
1,246.7 1,294.1 1,296.3 1,288.9 1,291.3 1,300.0 1,313.5 1,299.0
1,239.5 1,285.1 1,289.5 1,284.1 1,284.1 1,282.7 1,310.0 1,299.1
7.2
6.8
4.8
7.2
17.3
3.5
1
2,846.4 3,030.2 2,963.3 3,013.8 3,053.6 3,090.3 3,142.2 3,175.4
509.4
Structures
9.0
464.7
464.3
464.7
464.4
465.5
480.1
II
I
5,522.2 5,677.5 5,585.8 5,657.6 5,713.1 5,753.3 5,840.2 5,898.6
483.7
Gross domestic product
Final sales of domestic
product
Change in business inventories .
Goods ]
Final sales
Change in business inventories
Durable goods
Final sales
Change in business inventories
Nondurable goods
Final sales
Change in business inventories
Services ]
Structures
1992
1991
1991
1990
II
I
2,166.4 2,182.5 2,158.3 2,179.1 2,195.1 2,197.6 2,217.8 2,239.5
Final sales
Change in business inventories
Services '
Seasonally adjusted at annual rates
1992
1991
II
I
• 11
IV
III
II
I
4,877.5 4,821.0 4,796.7 4,817.1 4,831.8 4,838.5 4,873.7 4,891.0
4,871.3 4,830.3 4,821.8 4,837.4 4,831.2 4,830.9 4,886.3 4,881.8
6.2
-9.3
-25.1
-20.4
.6
7.5
9.2
126
1,956.8 1,911.2 1,903.1 1,907.6 1,918.3 1,915.7 1,924.0 1,934.6
1,950.7 1,920.5 1,928.2 1,928.0 1,917.7 1,908.2 1,936.6 1,925.5
251
-20.4
.6
7.5
126
9.2
880.3
881.0
834.1
851.6
815.3
847.4
836.3
860.2
845.3
851.7
839.4
846.8
842.4
859.6
872.5
863.7
-.7
-17.5
-32.2
240
-6.4
-7.4
-17.3
8.8
6.2
-9.3
1,076.6 1,077.1 1,087.8 1,071.4 1,073.0 1,076.3 1,081.7 1,062.2
1,069.7 1,069.0 1,080.8 1,067.8 1,066.0 1,061.3 1,077.0 1,061.8
6.9
8.2
3.6
7.1
7.0
15.0
4.7
.4
2,463.0 2,497.6 2,480.5 2,497.3 2,503.7 2,509.0 2,520.1 2,525.6
457.7
412.2
413.2
412.1
409.8
413.7
429.5
430.7
1. Exports and imports of certain goods, primarily -jnilitary equipment purchased and sold by the Federal
Government, are included in services.
'
NOTE.—Percent changes from preceding period for selected items in this table are shown in table 8.1.
1. Exports and imports of certain goods, primarily military equipment purchased and sold by the Federal
Government, are included in services.
NOTE.—Percent changes from preceding period for selected items in this table are shown in table 8.1.
Table 1.5.—Relation of Gross Domestic Product, Gross Domestic
Purchases, and Final Sales to Domestic Purchasers
Table 1.6.—Relation of Gross Domestic Product, Gross Domestic
Purchases, and Final Sales to Domestic Purchasers in Constant
Dollars
[Billions of dollars]
Gross domestic product
Less: Exports of goods and
services
Plus: Imports of goods and
services
Equals: Gross
domestic
purchases ]
. .
Less: Change in business inventories
Equals: Final sales to2 domestic purchasers
[Billions of 1987 dollars]
5,522.2 5,677.5 5,585.8 5,657.6 5,713.1 5,753.3 5,840.2 5,898.6
5570
5982
5732
5943
6023
6229
6281
6259
6259
6200
6020
6096
6295
6389
6362
6625
5,591.1 5,699.3 5,614.6 5,672.9 5,740.3 5,769.3 5,848.3 5,935.2
63
-102
-285
-21 8
2
92
-15.8
9.7
5,584.8 5,709.5 5,643.1 5,694.7 5,740.1 5,760.1 5,864.1 5,925.5
Gross domestic product
Less: Exports of goods and
services
Plus: Imports of goods and
services
Equals: Gross domestic
purchases '
Less: Change in business inventories
Equals: Final sales to2 domestic purchasers
4,877.5 4,821.0 4,796.7 4,817.1 4,831.8 4,838.5 4,873.7 4,891.0
510.0
539.4
515.9
536.1
544.2
561.4
565.4
564.1
561 8
561 2
5338
5535
5758
581 8
5868
6088
4,929.3 4,842.8 4,814.6 4,834.4 4,863.4 4,858.9 4,895.2 4,935.6
62
-93
-251
-20.4
.6
7.5
9.2
12.6
4,923.1 4,852.1 4,839.7 4,854.8 4,862.8 4,851.4 4,907.7 4,926.5
1. Purchases by U.S. residents of goods and services wherever produced.
2. Final sales to U.S. residents of goods and services wherever produced.
NOTE.—Percent changes from preceding period for selected items in this table are shown in table 8.1.
1. Purchases by U.S. residents of goods and services wherever produced.
2. Final sales to U.S. residents of goods and services wherever produced.
NOTE—Percent changes from preceding period for selected items in this table are shown in table 8.1.
Table 1.7.—Gross Domestic Product by Sector
Table 1.8.—Gross Domestic Product by Sector in Constant Dollars
[Billions of dollars]
[Billions of 1987 dollars]
Gross domestic product
. . .
Business
5,522.2 5,677.5 5,585.8 5,657.6 5,713.1 5,753.3 5,840.2 5,898.6
4,702.8 4,803.8 4,726.2 4,786.7 4,835.2 4,867.2 4,937.4 4,984.9
4,612.4 4,702.8 4,635.8 4,677.1 4,725.5 4,772.9 4,826.9 4,876.8
Nonfarm
Nonfarm less housing .... 4,162.8 4,229.8 4,171.1 4,207.3 4,251.4 4,289.5 4,341.1 4,386.1
Housing
449.6 473.0 464.7 469.8 474.1 483.4 485.8 490.7
79.6
81.6
79.2
77.9
82.5
79.1
77.0
85.0
Farm
16.4
29.0
28.5
30.5
13.4
27.1
21.9
5.4
Statistical discrepancy
Households and institutions
Private households
Nonprofit institutions
General government
Federal
State and local
Addendum:
Gross domestic business
product less housing
Gross domestic product
Business
Nonfarm
40947 4015.8 39983 4,007.1 4,021.6 4,036.3 4,058.8 4,078.1
Nonfarm less housing . . 3 704.3 3,621.0 3,604.8 3,612.6 3,626.1 3,640.3 3,661.1 3,679.0
390.4 394.9 393.5 394.5 395.5 396.0 397.6 399.1
Housing
68.5
72.8
73.6
71.0
68.0
Farm
705
69.4
68.3
24.4
23.2
26.0
13.9
23.9
11.5
18.7
4.9
Statistical discrepancy
Households and institutions
227.8
246.1
237.4
244.1
249.3
253.5
258.3
261.5
94
2184
92
2369
9.0
228.4
9.2
234.8
9.2
240.0
9.3
244.2
9.4
248.9
9.6
251.9
591.6
627.6
622.2
626.8
628.7
632.7
644.4
652.2
General government
1803
1920
1933
411.4
435.6
428.9
192.4
434.5
191.3
437.4
191.1
441.6
198.2
446.2
198.7
453.5
Federal
State and local
42487 43263
4,877.5 4,821.0 4,796.7 4,817.1 4,831.8 4,838.5 4,873.7 4,891.0
4,170.1 4,103.9 4,078.2 4,098.3 4,116.1 4,123.1 4,156.8 4,173.0
Private households
Nonprofit institutions
Addendum:
Gross domestic business
product less housing
197.7
202.4
200.0
201.9
203.1
204.8
206.7
206.7
88
82
8.3
193.5
8.3
194.9
8.2
196.6
8.3
198.4
8.4
198.3
1888
1942
82
191 8
509.8
514.7
518.5
516.9
512.6
510.6
510.3
511.3
1563
1571
353.5
357.5
161.1
357.4
158.6
358.3
155.5
357.1
153.4
357.3
152.5
357.7
151.8
359.5
37758 37052
SURVEY OF CURRENT BUSINESS
12 • August 1992
Table 1.9.—Relation of Gross Domestic Product, Gross National
Product, Net National Product, National Income, and Personal
Income
Table 1.10.—Relation of Gross Domestic Product, Gross National
Product, Net National Product, and National Income in Constant
Dollars
[Billions of dollars]
[Billions of 1987 dollars]
Seasonally adjusted at annual rates
1990
1991
1991
I
Gross domestic product
Plus: Receipts of factor income 1from the rest of the
world
Less: Payments of factor income 2to the rest of the
world
Equals: Gross national
product
Less: Consumption of fixed
capital
Capital consumption allowances ..
Less: Capital consumption adjustment
Equals: Net national product
Less: Indirect business tax
and nontax liability
Business transfer payments
Statistical discrepancy
Plus: Subsidies less current
surplus of government enterprises
Equals: National income
Less: Corporate profits with
inventory valuation and
capital consumption adjustments
Net interest
Contributions for social insurance
Wage accruals less
disbursements
Plus: Personal interest income
Personal dividend income
Government transfer
payments to persons
Business transfer payments to persons ..
Equals: Personal income
Addenda:
Net domestic product
Domestic income
Gross national income
II
Seasonally adjusted at annual rates
1990
1992
III
I
IV
I
5,522.2 5,677.5 5,585.8 5,657.6 5,713.1 5,753.3 5,840.2 5,898.6
160.6
143.5
159.8
143.2
137.8
133.1
132.9
131.5
139.9
126.0
130.8
126.5
124.5
122.3
113.3
120.8
5,542.9 5,694.9 5,614.9 5,674.3 5,726.4 5,764.1 5,859.8 5,909.3
602.8
566.2
626.1
574.2
618.9
563.8
623.5
568.5
624.9
576.4
637.1
588.2
631.4
598.0
637.8
608.9
-36.6
-51.9
-55.2
-54.9
-48.5 -48.8 -33.5
-28.9
4,940.1 5,068.8 4,996.0 5,050.9 5,101.5 5,127.0 5,228.3 5,271.5
444.2
475.2
464.7
468.2
480.0
487.9
493.8
498.0
26.4
5.4
28..1
21.9
27.3
13.4
27.9
27.1
28.4
30.5
28.6
16.4
29.4
29.0
29.8
28.5
4.2
.5
2.5
1.6
-7.1
5.1
3.2
3.9
Gross domestic product
Plus: Receipts of factor income 1from the rest of the
world
Less: Payments of factor income to the rest of the
world2
Equals: Gross national
product ...
Less: Consumption of fixed
capital
Equals: Net national product
Less: Indirect business tax
and nontax liability plus
^business transfer payments
1
less subsidies plus current
surplus of government enterprises
Statistical discrepancy
Equals: National income
Addenda:
Net domestic product
Domestic income
Gross national income
II
1992
III
IV
I
II
4,877.5 4,821.0 4,796.7 4,817.1 4,831.8 4,838.5 4,873.7 4,891.0
141.1
120.8
136.2
120.9
115.4
110.8
109.7
107.8
122.6
105.4
110.9
106.2
103.6
101.0
92.7
98.1
4,895.9 4,836.4 4,822.0 4,831.8 4,843.7 4,848.2 4,890.7 4,900.6
554.9
569.3
562.5
565.8
569.6
579.1
576.4
578.0
4,341.0 4,267.2 4,259.4 4,266.0 4,274.1 4,269.1 4,314.3 4,322.7
396.5
391.6
4.9
18.7
387.7
11.5
393.1
23.2
394.3
26.0
391.3
13.9
396.3
24.4
398.9
23.9
3,939.7 3,856.9 3,860.2 3,849.6 3,853.8 3,863.9 3,893.6 3,899.9
,,,i
4,322.6 4,251.7 4,234.1 4,251.2 4,262.3 4,259.4 4,297.3 4,313.0
3,921.2 3,841.5 3,834.9 3,834.9 3,842.0 3,854.2 3,876.6 3,890.2
4,891.0 4,817.8 4,810.4 4,808.6 4,817.7 4,834.3 4,866.3 4,876.8
4,468.3 4,544.2 4,493.0 4,529.2 4,555.4 4,599.1 4,679.4 4,719.2
1. Consists largely of receipts by U.S. residents of interest and dividends and reinvested earnings of foreign
affiliates of U.S. corporations.
2. Consists largely of payments to foreign residents of interest and dividends and reinvested earnings of U.S.
affiliates of foreign corporations.
361.7
460.7
346.3
449.5
349.6
456.2
347.3
444.4
341.2
450.5
347.1
446.9
384.0
430.0
390.6
420.9
502.3
528.8
521.5
526.5
532.1
535.2
546.2
550.9
.1
694.5
-.1
700.6
.2
701.1
-.4
696.2
0
701.8
0
703.3
0
684.8
0
675.7
140.3
137.0
141.3
136.7
135.6
134.3
133.9
136.6
664.6
748.3
722.8
739.8
754.0
776.5
818.6
835.3
21.2
22.8
22.1
22.6
23.1
23.3
24.1
24.4
4,664.2 4,828.3 4,752.8 4,806.9 4,846.2 4,907.2 4,980.5 5,028.8
4,919.4 5,051.4 4,966.9 5,034.2 5,088.2 5,116.3 5,208.7 5,260.8
4,447.6 4,526.7 4,463.9 4,512.5 4,542.2 4,588.4 4,659.8 4,708.5
5,537.5 5,673.1 5,601.5 5,647.2 5,695.9 5,747.7 5,830.8 5,880.8
1. Consists largely of receipts by U.S. residents of interest and dividends and reinvested earnings of foreign
affiliates of U.S. corporations.
2. Consists largely of payments to foreign residents of interest and dividends and reinvested earnings of U.S.
affiliates of foreign corporations.
1991
1991
II
Table 1.11.—Command-Basis Gross National Product in Constant
Dollars
[Billions of 1987 dollars]
Gross national product
Less: Exports of goods and
services and receipts of
factor income from the rest
of the world .
Plus: Command-basis exports
of goods and services and
receipts of factor income l .
Equals: Command-basis
gross national product ....
Addendum:
Terms of trade 2
4,895.9 4,836.4 4,822.0 4,831.8 4,843.7 4,848.2 4,890.7 4,900.6
651 0
6602
6522
657.0
659.6
672.2
675.0
671.9
641.4
662.8
645.0
660.9
666.8
678.2
689.9
683.5
4,886.3 4,838.9 4,814.8 4,835.7 4,850.9 4,854.2 4,905.6 4,912.2
98.5
100.4
98.9
100.6
101.1
100.9
102.2
101.7
1. Exports of goods and services and receipts of factor income deflated F011 by the implicit price deflator for
imports of goods and services and payments of factor income.
2. Ratio of the implicit price deflator for exports of goods and services and receipts of factor income to the
corresponding implicit price deflator for imports with the decimal point shifted two places to the right.
NOTE.—Percent changes from preceding period for selected items in this table are shown in table 8.1.
SURVEY OF CURRENT BUSINESS
Table 1.14.—National Income by Type of Income
Table 1.16.—Gross Domestic Product of Corporate Business in
Current Dollars and Gross Domestic Product of Nonfinancial
Corporate Business in Current and Constant Dollars
[Billions of dollars]
Seasonally adjusted at annual rates
1990
1991
1991
I
II
August 1992
Seasonally adjusted at annual rates
1992
III
I
IV
1990
II
1991
National income
Compensation of employees
Wages and salaries
Government . .
Other
Supplements to wages and
salaries
Employer contributions
for social insurance ...
Other labor income
Proprietors' income with
IVA and CCAdj
Farm
Proprietors' income with
IVA
CCAdj
Nonfarm
Proprietors' income
IVA
CCAdi
Rental income of persons
with CCAdj
Rental income of persons ..
CCAdj
Corporate profits with IVA
and CCAdj
Corporate profits with IVA ..
Profits before tax
Profits tax liability
Profits after tax
Dividends
Undistributed profits
IVA
CCAdj
Net interest
Addenda:
Corporate profits after tax
with IVA and CCAdj
Net cash flow with IVA
and CAdj
Undistributed profits
with IVA and CCAdj
Consumption of fixed
capital
Less- IVA
Equals: Net cash flow ....
I
IV
III
II
II
4,468.3 4,544.2 4,493.0 4,529.2 4,555.4 4,599.1 4,679.4 4,719.2
3,291.2 3,390.8 3,343.0 3,379.6 3,407.0 3,433.8 3,476.3 3,506.4
2,742.9 2,812.2 2,774.9 2,804.3 2,824.4 2,845.0 2,877.6 2,901.3
514.8 543.5 539.9 543.4 544.3 546.4 554.6 561.4
2,228.0 2,268.7 2,235.0 2,260.9 2,280.0 2,298.6 2,323.0 2,339.9
548.4
578.7
568.1
575.2
582.6
588.7
598.7
277.4
271.0
290.4
288.3
286.6
281.5
289.1
286.1
292.0
290.6
293.7
295.0
299.4 301.5
299.2 . 303.6
366.9
368.0
356.5
370.4
367.1
377.9
393.6
397.9
41.7
35.8
34.3
41.3
29.5
37.9
40.1
38.1
37.1
-7.6
45.4
-7.5
47.5
74
73
322.2
310.2
-.3
329.1
316.5
3
337.6
322.4
-.5
340.0
325.6
-.1
353.6
339.1
8
359.8
344.7
13.8
12.4
12.9
15.6
14.4
15.2
-10.4
-12.4
-12.3
-10.3
-6.6
-4.5
43.4
-7.6
42.0
325.2
310.0
-.8
332.2
318.7
-.3
16.0
-12.3
605.1
48.9
-7.6
49.5
-7.8
77
45.4
-1.0
16.1
3.3
44.6
47.5
47.0
54.7
51.7
60.0
-57.9
; 44.0
-56.4
44.3
-56.9
-56.6
-57.3
-61.3
-56.2
-56.6
361.7
346.3
349.6
347.3
341.2
347.1
384.0
390.6
341.2
355.4
136.7
218.7
149.3
337.8
334.7
124.0
210.7
146.5
344.2
337.6
121.3
216.3
150.6
342.2
332.3
122.9
209.4
146.2
331.9
336.7
127.0
209.6
145.1
333.1
332.3
125.0
207.4
143.9
360.7
366.1
136.4
229.7
143.6
363.2
379.1
144.5
234.6
146.6
69.4
64.2
65.7
63.2
64.5
-4.8
63.4
86.2
-5.4
88.0
-14.2
3.1
6.7
9.9
20.5
8.4
5.3
5.1
9.3
449.5
456.2
444.4
450.5
460.7
.7
-15.9
14.1
23.3
27.4
446.9
430.0
420.9
225.1
222.3
228.3
224.4
214.2
222.2
247.6
246.1
444.0
458.8
457.4
460.6
452.5
464.6
490.1
490.4
75.7
75.8
77.7
78.1
69.0
78.3
104.0
99.5
368.3
-14.2
458.1
383.0
3.1
455.6
379.7
6.7
450.7
382.5
9.9
450.7
383.5
386.3
.7
463.9
386.1
390.9
-15.9
506.3
CCAdj Capital consumption adjustment
IVA Inventory valuation adjustment
1992
1991
I
-4.8
457.3
-5.4
495.6
Billions of dollars
Gross domestic product of corporate
business
Consumption of fixed capital ..
Net domestic product
Indirect business tax and
nontax liability plus business transfer payments
less subsidies
Domestic income
Compensation of employees
Wages and salaries ...
Supplements to wages
and salaries
Corporate profits with
IVA and CCAdj
Profits before tax
Profits tax liability ..
Profits after tax
Dividends
Undistributed
profits
IVA
CCAdj
Net interest
Gross domestic product of financial corporate business
Gross domestic product of nonfinancial
corporate business ..
Consumption of fixed capital ..
Net domestic product
Indirect business tax and
nontax liability plus business transfer payments
less subsidies
Domestic income
Compensation of employees
Wages and salaries ...
Supplements to wages
and salaries
Corporate profits with
IVA and CCAdj
Profits before tax
Profits tax liability ..
Profits after tax
Dividends
Undistributed
profits
IVA
CCAdj
Net interest
3,308.3 3,352.2 3,311.6 3,340.1 3,365.8 3,391.5 3,437.3 3,471.6
368.3
383.0
379.7
382.5
383.5
386.3
386.1
390.9
2,940.0 2,969.2 2,931.9 2,957.6 2,982.3 3,005.1 3,051.2 3,080.8
318.8
342.2
334.3
336.4
346.8
351.5
355.7
357.9
2,621.2 2,627.0 2,597.6 2,621.3 2,635.5 2,653.7 2,695.5 2,722.9
2,182.8 2,219.5 2,189.5 2,212.4 2,230.3 2,245.7 2,261.4 2,277.7
1,833.9 1,855.8 1,834.2 1,850.7 1,863.3 1,874.9 1,890.6 1,903.0
348.9
363.7
355.3
361.7
367.0
370.9
370.8
374.7
296.0
289.7
136.7
153.0
129.3
279.8
268.2
124.0
144.2
128.3
274.7
262.7
121.3
141.5
131.0
280.9
265.9
122.9
143.1
126.7
279.3
274.7
127.0
147.7
123.6
284.2
269.4
125.0
144.5
131.9
315.3
297.4
136.4
161.0
116.6
328.2
316.6
144.5
172.2
126.0
23.7
15.9
10.5
16.4
9.9
5.1
127.9
9.3
125.9
44.4
-5.4
23.3
142.4
6.7
5.3
133.4
24.1
-4.8
12.6
3.1
8.4
127.7
123.7
118.7
117.0
271.8
278.4
274.5
277.4
281.4
280.4
299.2
297.1
-14.2
20.5
.7
14.1
46.2
-15.9
27.4
3,036.5 3,073.8 3,037.1 3,062.7 3,084.4 3,111.1 3,138.1 3,174.5
329.3
341.2
338.9
341.0
341.5
343.5
342.7
347.3
2,707.2 2,732.6 2,698.2 2,721.7 2,742.9 2,767.5 2,795.4 2,827.2
290.9
310.8
304.1
305.5
314.7
318.7
322.6
324.5
2,416.3 2,421.8 2,394.2 2,416.2 2,428.2 2,448.8 2,472.8 2,502.7
2,019.0 2,048.6 2,022.1 2,042.0 2,058.6 2,071.8 2,081.0 2,096.3
1,695.1 1,711.3 1,692.5 1,706.6 1,718.2 1,727.9 1,738.0 1,749.6
323.9
337.3
329.6
335.4
340.5
343.9
343.0
346.6
248.3
232.9
229.9
207.3
226.2
203.1
231.4
205.2
226.5
211.2
235.3
209.7
255.7
227.3
272.3
250.8
92.8
81.1
78.8
80.3
83.3
82.1
90.2
99.6
140.2
118.5
126.2
117.3
124.2
119.0
124.9
115.5
127.9
113.9
127.6
120.9
137.1
107.1
151.2
117.1
8.8
3.1
5.2
6.7
9.3
9.9
6.7
.7
24.8
30.1
-5.4
33.8
141.7
136.0
29.5
19.4
16.5
16.2
14.1
-4.8
20.1
149.0
143.4
145.9
142.9
143.0
21.6
-14.2
34.1
-15.9
37.4
134.1
Billions of 1987 dollars
Gross domestic product of nonfinancial
corporate business ..
Consumption of fixed capital ..
Net domestic product
Indirect business tax and
nontax liability plus business transfer payments
less subsidies
Domestic income
2,740.0 2,698.0 2,683.5 2,687.4 2,699.1 2,722.0 2,737.6 2,756.4
303.4 309.5 307.1 308.5 310.2 312.0 313.2 314.0
2,436.6 2,388.5 2,376.4 2,378.9 2,389.0 2,410.0 2,424.3 2,442.4
253.2 249.0 246.6 248.8 251.0 249.5 252.6 254.4
2,183.4 2,139.6 2,129.7 2,130.1 2,138.0 2,160.5 2,171.8 2,188.0
CCAdj Capital consumption adjustment
IVA Inventory valuation adjustment
SURVEY OF CURRENT BUSINESS
14 • August 1992
Table 2.1 .—Personal Income and Its Disposition
Table 2.2.—Personal Consumption Expenditures by Major Type of
Product
[Billions of dollars]
[Billions of dollars]
Seasonally adjusted at annual rates
1990
1991
1991
I
Personal income
Wage and salary disbursements
Commodity-producing industries
Manufacturing
Distributive industries
Service industries
Government
Other labor income
Proprietors' income with
inventory valuation and
capital consumption
adjustments
Farm
Nonfarm
Rental income of persons
with capital consumption adjustment
Personal dividend income
Personal interest income
Transfer payments to persons
Old-age, survivors, disability, and health insurance benefits
Government unemployment insurance benefits
Veterans benefits
Government employees
retirement benefits
Other transfer payments
Aid to families with
dependent children
Other
Less: Personal contributions for social insurance
Less: Personal tax and
nontax payments
Equals: Disposable personal
income
Less: Personal outlays
Personal consumption expenditures
Interest paid by persons ....
Personal transfer payments
to rest of the world (net)
Equals: Personal saving
Addenda:
Disposable personal income:
Total, billions of 1987
dollars
Per capita:
Current dollars
1987 dollars
Population (mid-period,
millions)
Personal saving as percentage of disposable
personal income
II
IV
III
I
1990
II
1992
1991
1991
I
II
III
I
IV
II
4,664.2 4,828.3 4,752.8 4,806.9 4,846.2 4,907.2 4,980.5 5,028.8
2,742.8 2,812.2 2,774.7 2,804.7 2,824.4 2,845.0 2,877.6 2,901.3
745.6
556.1
634.6
847.8
514.8
737.4
556.9
647.4
883.9
543.6
734.6
551.2
638.6
861.8
539.7
734.6
553.4
647.0
879.4
543.8
738.8
559.0
651.1
890.2
544.3
741.5
563.9
652.9
904.3
546.4
736.8
559.9
660.9
925.3
554.6
742.8
564.5
663.0
934.1
561.4
271.0
288.3
281.5
286.1
290.6
295.0
299.2
303.6
366.9
368.0
356.5
370.4
367.1
377.9
393.6
397.9
41.7
35.8
34.3
41.3
29.5
37.9
40.1
38.1
325.2
332.2
322.2
329.1
337.6
340.0
353.6
359.8
-12.3
-10.4
-12.4
-12.3
-10.3
-6.6
-4.5
3.3
Personal consumption
expenditures
Durable goods
Motor vehicles and parts ....
Furniture and household
equipment
Other . .
Nondurable goods
Food
Clothing and shoes
Gasoline and oil
Fuel oil and coal
Other
Services
Housing
Household operation
Electricity and gas
Other household operation
Transportation
Medical care
Other
3,748.4 3,887.7 3,821.7 3,871.9 3,914.2 3,942.9 4,022.8 4,053.9
464.3
446.1
439.5
441.4
453.0
450.4
469.4
469.5
202.4
185.4
180.9
180.7
189.3
190.9
198.9
199.8
172.1
170.4
169.2
171.5
172.2
168.9
176.3
176.1
89.8
90.2
89.3
89.3
91.5
90.6
94.1
93.5
1,224.5 1,251.5 1,245.0 1,254.2 1,255.3 1,251.4 1,274.1 1,277.3
601.4
206.9
108.5
617.7
209.0
105.5
613.6
206.2
108.1
619.2
210.8
105.5
617.9
212.0
104.7
620.0
206.8
103.5
627.9
216.5
102.8
623.6
217.3
105.1
12.6
11.7
12.2
11.4
11.8
11.3
11.6
13.8
295.1
307.7
304.8
307.3
308.9
309.8
315.4
317.5
2,059.7 2,190.1 2,137.2 2,176.3 2,205.9 2,241.1 2,279.3 2,307.2
97.6
574.0
223.7
103.6
565.0
218.4
100.0
571.5
224.8
104.4
576.5
226.1
104.6
583.0
225.5
105.2
590.9
223.5
101.8
596.8
229.7
106.0
117.4
142.8
524.9
629.5
120.1
147.3
580.2
664.9
118.4
145.1
558.7
649.9
120.3
146.2
572.5
661.3
121.5
148.2
586.3
668.9
120.3
149.8
603.2
679.6
121.8
152.6
614.8
697.5
123.8
152.3
627.5
700.8
547.5
215.0
140.3
137.0
141.3
136.7
135.6
134.3
133.9
136.6
694.5
700.6
701.1
696.2
701.8
703.3
684.8
675.7
685.8
771.1
744.9
762.4
777.1
799.8
842.7
859.7
352.0
382.0
374.2
378.9
384.2
390.6
405.7
412.1
Table 2.3.—Personal Consumption Expenditures by Major Type of
Product in Constant Dollars
18.0
17.8
27.5
18.1
24.3
17.8
28.3
18.5
27.6
18.1
30.0
18.1
39.7
20.2
41.9
18.7
[Billions of 1987 dollars]
94.0
203.9
101.3
242.1
101.6
227.1
100.4
236.3
101.0
246.1
102.0
259.1
106.4
270.7
106.4
280.6
19.8
22.0
21.3
21.8
22.2
22.7
23.0
23.4
184.2
220.2
205.8
214.6
224.0
236.4
247.7
257.2
224.8
621.3
238.4
618.7
234.9
616.8
237.4
617.2
240.1
618.6
241.5
622.3
246.8
619.6
249.4
616.1
4,042.9 4,209.6 4,136.0 4,189.7 4,227.6 4,284.9 4,360.9 4,412.7
3,867.3 4,009.9 3,943.2 3,994.4 4,036.6 4,065.5 4,146.3 4,176.6
3,748.4 3,887.7 3,821.7 3,871.9 3,914.2 3,942.9 4,022.8 4,053.9
112.5 112.8 113.3
112.0
112.5
112.2 112.7
109.6
9.3
9.7
9.4
9.8
9.9
9.7
10.2
10.7
175.6
199.6
192.8
195.3
191.0
219.4
214.6
236.1
3,516.5 3,509.0 3,488.7 3,505.2 3,511.5 3,530.8 3,565.7 3,578.3
16,174 16,658 16,433 16,604 16,706 16,885 17,143 17,301
14,068 13,886 13,861 13,891 13,876 13,913 14,017 14,030
250.0
252.7
251.7
252.3
253.1
253.8
254.4
4.3
4.7
4.7
4.7
4.5
5.1
4.9
NOTE—Percent changes from preceding period for selected items in this table are shown in table 8.1.
Seasonally adjusted at annual rates
1992
255.1
5.4
Personal consumption
3,260.4
expenditures
439.3
Durable goods
Motor vehicles and parts .... 192.2
Furniture and household
equipment
169.5
Other
776
Nondurable goods
Food
Clothing and shoes
Gasoline and oil
Fuel oil and coal
Other
Services .
Housing
Household operation
Electricity and gas
Other household
opearation
Transportation
Medical care
Other
3,240.8 3,223.5 3,239.3 3,251.2 3,249.0 3,289.3 3,287.4
414.7
412.0
411.3
419.4
416.1
432.3
171.0
169.6
167.2
173.3
174.0
181.5
179.4
168.6
166.9
169.3
170.4
167.9
174.4
174.3
765
753
750
755
748
757
742
429.0
1,056.5 1,042.4 1,043.0 1,046.3 1,044.8 1,035.6 1,049.6 1,045.3
520.8
185.9
515.8
181.3
516.4
180.8
516.3
183.2
515.0
183.7
515.3
177.5
518.9
184.1
513.9
184.3
86.4
10.1
85.2
83.9
86.0
84.7
9.7
94
9.8
86.0
10.0
85.7
10.2
85.6
12.0
2534
2505
2525
251 0
2500
2486
2507
2496
9.4
1,764.6 1,783.7 1,768.5 1,781.8 1,787.0 1,797.4 1,807.3 1,813.1
474.7
203.7
478.2
204.7
476.5
201.4
477.9
206.5
478.8
206.5
479.8
204.6
481.2
201.6
482.9
205.9
92.4
95.2
92.1
96.6
96.3
95.6
92.9
96.1
111.3
124.7
4239
537.6
109.6
121.2
4388
540.7
109.2
121.2
431 9
537.6
109.9
121.5
4356
540.2
110.2
121.2
4405
540.1
109.0
121.0
4472
544.8
108.7
120.3
4496
554.6
109.9
121.3
4530
549.9
SURVEY OF CURRENT BUSINESS
August 1992 • 15
Table 3.2.—Federal Government Receipts and Expenditures
Table 3.3.—State and Local Government Receipts and Expenditures
[Billions of dollars]
[Billions of dollars]
Seasonally adjusted at annual rates
1990
1991
1991
I
Receipts
Personal tax and nontax receipts
Income taxes
Estate and gift taxes .
Nontaxes
Corporate profits tax accruals
Federal Reserve banks
Other
Indirect business tax and
nontax accruals
Excise taxes
Customs duties
Nontaxes .
Contributions for social insurance
Expenditures
Purchases
National defense
Nondefense
Transfer payments (net)
To persons
To rest of the world (net) ...
Grants-in-aid to State and
local governments
Net interest paid
Interest paid
To persons and business
To rest of the world (net)
Less: Interest received by
government
Subsidies less current surplus
of government enterprises .
Subsidies
Less: Current surplus of
government enterprises ..
Less: Wage accruals less disbursements
Surplus or deficit (-),
national income and
product accounts
Social insurance funds
Other
II
Seasonally adjusted at annual rates
1990
1992
I
IV
III
I
II
1,107.4 1,122.2
1,114.6
482.6
470.1
473.4
461.4
474.7
462.9
473.1
461.6
473.4
460.6
472.2
460.5
468.4
456.4
463.2
451.3
11.6
11.0
10.9
10.6
11.8
10.7
10.9
10.8
1,117.3 1,127.7 1,129.4 1,143.3 1,149.1
.9
1.0
.9
1.0
1.0
1.1
1.1
1.1
113.9
102.5
100.3
101.6
104.9
103.3
112.2
118.6
23.6
90.3
20.8
81.7
21.5
78.8
20.8
80.8
20.5
84.4
20.3
83.0
19.3
92.9
19.0
99.6
66.0
36.3
17.5
12.2
78.2
45.6
17.2
15.3
77.3
45.7
16.6
15.0
76.3
45.6
16.1
14.6
78.3
45.6
17.1
15.6
80.8
45.7
18.9
16.2
79.2
46.0
17.1
16.1
:79.8
444.9
468.2
462.2
466.3
471.1
473.2
483.5
487.5
46.1
17.9
15.8
1,273.6 1,332.7 1,264.4 1,329.4 1,348.7 1,388.1 1,432.5 1,448.7
426.4
314.0
112.4
447.3
323.8
123.6
451.3
332.4
118.8
449.9
325.9
124.0
447.2
321.9
125.3
440.8
314.7
126.1
445.0
313.6
131.4
445.4
312.3
133.1
513.3
499.9
521.9
550.2
-28.3
461.6
538.0
-*76.4
514.8
546.6
-31.8
545.5
551.7
-6.2
565.9
564.7
1.3
609.8
597.8
13.4
12.0
615.2
605.9
9.3
132.3
153.3
144.3
151.9
153.4
163.6
165.1
174.1
176.6
209.2
171.4
186.9
220.9
181.9
182.7
218.0
178.5
188.1
221.1
182.3
186.8
221.3
181.9
190.1
223.2
185.0
186.8
220.3
182.0
187.1
221.9
184.1
37.9
39.0
39.5
38.9
39.4
38.2
38.2
37.8
32.6
34.0
35.3
33.0
34.6
33.2
33.4
34.9
25.1
27.5
23.1
29.1
24.8
29.8
24.4
31.2
15.7
22.0
27.7
33.4
25.7
30.9
26.9
31.6
2.4
6.0
5.0
6.8
6.3
5.7
5.2
4.7
.1
-.1
.2
-.4
0
0
0
0
-166.2 -210.4 -149.9 -212.2 -221.0 -258.7 -289.2 -299.6
64.0
50.1
51.7
-230.2 -260.6 -201.5
50.5
2627
52.2
46.2
1991
1991
28.5
28.3
2732 -304.8 -317.6 -327.9
Receipts
Personal tax and nontax receipts
Income taxes
Nontaxes
Other .
Corporate profits tax accruals
Indirect business tax and
nontax accruals ....
Sales taxes
Property taxes
Other
Contributions for social insurance
Federal grants-in-aid .
Expenditures
Purchases ....
. .
Compensation of employees
Other
Transfer payments to persons
Net interest paid
Interest paid
Less: Interest received by
government
Less: Dividendsl received by
government
Subsidies less current surplus
of government enterprises .
Subsidies
Less: Current surplus of
government enterprises ..
Less: Wage accruals less disbursements
Surplus or deficit (-),
national income and
product accounts
Social insurance funds
Other
II
1992
I
IV
III
II
729.3
777.9
754.0
769.3
783.5
804.6
817.8
834.5
138.7
106.0
145.4
110.3
142.1
107.6
144.1
109.5
145.2
109.9
150.1
114.2
151.1
114.6
152.9
115.8
15.5
17.2
16.7
18.4
16.2
18.2
16.5
18.1
16.8
18.5
17.1
18.8
17.4
19.1
17.7
19.4
22.7
21.5
21.0
21.3
22.1
21.7
24.2
25.9
378.2
183.5
155.4
397.0
189.0
167.7
387.4
184.4
163.0
391.9
186.2
166.2
401.7
192.3
169.3
407.1
192.9
172.4
414.6
197.3
175.6
418.2
198.3
178.9
39.4
40.4
40.0
39.5
40.1
41.8
41.7
41.0
60.6
59.2
60.2
61.0
62.0
62.7
63.4
132.3
153.3
144.3
151.9
153.4
163.6
165.1
174.1
699.2
760.7
739.4
752.8
768.1
782.5
801.2
816.2
616.8
643.2
636.3
640.8
646.0
649.5
658.0
664.0
434.5
206.4
437.4
208.6
441.6
207.9
446.2
211.8
453.5
210.5
57.3
411.4
205.4
435.6
207.6
428.9
207.4
164.7
198.0
184.8
193.2
202.3
211.8
220.8
229.4
-52.4
-48.4
-50.0
-49.0
-47.9
-46.6
-45.4
-44.3
60.7
63.7
62.6
63.4
64.1
64.8
65.4
66.1
113.1
112.1
112.7
112.4
112.0
111.3
110.8
110.4
9.0
9.5
9.3
9.5
9.5
9.6
9.7
-20.9
.4
-22.6
.4
-22.3
.4
-22.8
.4
-22.9
.4
-22.6
.4
-22.5
.4
-22.9
.4
21.3
23.0
22.7
23.2
23.2
23.0
22.9
23.3
0
0
0
0
0
0
0
0
10.0
30.1
17.1
14.6
16.5
15.4
22.0
16.6
18.3
63.0
60.3
61.2
60.7
59.9
59.4
58.4
58.0
-32.9
-43.1
-46.6
-44.1
-44.5
373
-41.8
-39.7
SURVEY OF CURRENT BUSINESS
l6 • August 1992
Table 3.7B.—Government Purchases by Type
Table 3.8B—Government Purchases by Type in Constant Dollars
[Billions of dollars]
[Billions of 1987 dollars]
Seasonally adjusted at annual rates
1990
1991
1991
I
Government purchases
Federal
II
Seasonally adjusted at annual rates
1990
1992
IV
III
I
II
I
1,043.2 1,090.5 1,087.5 1,090.8 1,093.3 1,090.3 1,103.1 1,109.4
426.4
447.3
451.3
449.9
447.2
440.8
445.0
445.4
National defense
Durable goods
Nondurable goods
Services
Compensation of employees
Military
Civilian ..
Other services
Structures
314.0
323.8
332.4
325.9
321.9
314.7
313.6
312.3
84.2
11.8
84.1
12.2
87.4
13.8
86.2
11.2
82.7
11.2
80.2
12.5
79.5
10.3
77.8
10.3
211.8
222.5
226.0
223.3
223.7
217.1
218.7
218.5
125.5
132.6
135.1
133.0
131.3
130.9
135.2
135.2
82.9
42.5
86.4
88.6
44.0
90.0
91.1
44.0
90.9
89.2
43.8
90.3
87.5
43.8
92.4
86.5
44.4
86.2
88.9
46.3
83.4
88.4
46.8
83.3
6.3
4.9
5.2
5.2
4.3
4.9
5.2
5.6
Nondefense
Durable goods
Nondurable goods
Commodity Credit
Corporation inventory change
Other nondurables
Services
Compensation of employees
Other services
Structures
112.4
5.9
5.1
123.6
6.8
7.0
118.8
6.2
7.6
124.0
7.1
8.0
125.3
7.0
7.0
126.1
7.0
5.3
131,4
7.2
7.1
133.1
7.4
7.9
-1.7
.4
6.6
100.4
1.3
6.6
97.0
99.5
-.3
7.3
102.1
-2.0
93.4
7.4
102.9
-.7
7.9
106.2
-.2
8.1
107.4
54.8
38.6
59.4
41.0
58.2
38.8
59.4
40.1
60.0
42.1
State and local
Durable goods
Nondurable goods
Services
Compensation of employees
Other services
Structures
6.8
2.4
5.2
1991
1991
8.0
9.4
8.0
9.5
9.2
60.2
42.7
10.8
62.9
43.2
10.9
63.5
43.9
10.3
616.8
643.2
636.3
640.8
646.0
649.5
658.0
664.0
34.9
56.0
36.4
58.0
36.1
58.4
36.3
57.7
36.4
57.9
36.7
57.8
36.8
57.3
37.0
58.7
440.6
462.1
456.5
461.6
463.8
466.6
470.4
475.7
411.4
435.6
428.9
434.5
437.4
441.6
446.2
453.5
29.2
85.3
26.6
86.7
27.6
85.2
27.1
85.3
26.5
87.8
25.0
88.4
24.2
93.5
22.2
92.6
II
1992
II
I
IV
III
929.9
941.0
945.1
945.6
940.2
933.1
937.0
935.7
383.6
388.3
394.1
393.8
387.2
378.2
375.3
373.7
National defense
Durable goods
Nondurable goods
Services
Compensation of employees
Military
Civilian
Other services
Structures
283.3
282.8
291.8
287.6
280.6
271.0
265.6
263.1
80.3
80.7
74.1
72.8
9.5
176.0
5.4
4.2
4.4
4.4
3.6
4.3
4.5
4.8
Nondefense
Durable goods
Nondurable goods
Commodity Credit
Corporation inventory change
Other nondurables
Services
Compensation of employees
Other services
Structures
100.3
5.7
5.2
105.5
6.8
6.5
102.2
6.1
7.1
106.2
7.0
7.4
106.6
7.1
6.3
107.2
7.2
5.4
109.7
7.5
6.9
110.6
7.8
7.3
Government purchases
Federal
State and local
Durable goods
Nondurable goods
Services
Compensation of employees
Other services
Structures
77.5
10.0
74.7
10.8
195.1
9.9
192.5
189.5
181.1
9.7
177.2
108.6
113.2
110.0
106.6
104.6
103.5
102.5
72.9
35.7
81.0
77.1
36.1
81.9
74.5
35.5
82.5
71.2
35.4
82.9
69.0
35.6
76.6
67.8
35.7
73.7
66.6
35.9
73.5
9.3
188.3
78.6
10.4
81.3
11.0
189.6
108.8
72.2
36.6
79.5
-1.0
6.2
.7
5.9
1.5
5.9
2.6
4.5
-.1
6.5
-1.2
6.6
-.1
7.0
83.9
82.0
83.4
85.1
85.1
85.6
86.4
47.5
34.8
48.6
35.4
47.9
34.1
49.3
37.1
48.6
34.9
48.9
36.2
48.8
36.3
49.0
36.5
7.2
8.2
7.1
8.3
8.1
9.5
9.7
9.1
546.3
552.7
551.0
551.8
553.0
554.9
561.8
561.9
32.2
48.4
32.7
50.3
32.6
50.1
32.7
50.3
32.8
50.4
32.8
50.5
32.7
50.5
32.7
50.6
387.8
391.3
391.1
392.1
390.9
391.1
391.6
392.9
353.5
357.5
357.4
358.3
357.1
357.3
357.7
359.5
34.4
77.8
33.8
78.3
33.7
77.2
33.8
76.7
33.8
78.9
33.8
80.6
33.9
86.9
33.4
85.7
Table 3.10.—National Defense Purchases
Table 3.11.—National Defense Purchases in Constant Dollars
[Billions of dollars]
[Billions of 1987 dollars]
National defense purchases
Durable goods
Military equipment
Aircraft
Missiles
Ships
Vehicles
Electronic equipment
Other
Other durable goods
Nondurable goods
Petroleum products
Ammunition
Other nondurable goods ....
Services
314.0
323.8
332.4
3259
321.9
314.7
313.6
312.3
84.2
84.1
87.4
86.2
82.7
80.2
79.5
77.8
795
78 1
740
735
721
27.0
16.4
799
278
767
29.0
15.0
81 7
275
17.6
15.9
27.1
15.8
25.7
16.3
23.1
15.8
22.8
16.2
125
45
7.1
11 4
4.6
121
47
6.7
11 2
6.0
11 4
45
6.9
139
5.7
125
56
7.5
106
6.3
126
49
6.1
101
6.0
120
3.8
6.2
101
6.2
11 2
4.3
6.5
125
6.0
11 3
4.2
6.0
11 6
5.8
11.8
12.2
13.8
11.2
11.2
12.5
10.3
10.3
5.3
34
3.0
211.8
5.0
36
3.5
6.6
34
3.9
3.9
3.8
3.5
4.5
3.4
3.3
5.1
3.9
3.5
4.1
2.6
3.6
3.8
3.3
3.2
222.5
226.0
223.3
223.7
217.1
218.7
218.5
Compensation of employMilitary
Civilian
Other services
Contractual research and
development
Installation support l
Weapons support2
Personnel support3
Transportation of material
Travel of persons
Other
Structures
Military facilities
Other
125.5
132.6
135.1
133.0
131.3
130.9
135.2
135.2
82.9
88.6
91.1
89.2
87.5
86.5
88.9
425
440
440
438
438
444
463
86.4
90.0
90.9
90.3
92.4
86.2
83.4
88.4
46.8
83.3
31.7
22.5
10.4
13.6
25.6
23.1
11.2
13.0
26.9
24.2
11.0
13.5
25.5
22.3
10.6
13.5
26.0
23.3
11.1
13.4
24.1
22.8
12.1
11.6
22.0
24.2
11.5
11.6
22.2
24.0
12.4
12.3
4.7
41
-.6
9.3
85
-.8
9.9
61
-.6
10.8
6.3
4.9
5.2
5.2
36
2.6
25
2.4
26
2.6
2.8
2.5
84
-7
6.8
9.3
-.5
6.2
8.3
-.4
5.4
7.4
-.4
4.3
4.9
5.2
5.6
1.9
2.4
2.6
2.3
3.1
2.1
3.6
2.0
9.7
10.2
-1.3
1. Includes utilities, communications, rental payments, maintenance and repair, and payments to contractors to
operate installations.
2. Includes depot maintenance and contractual services for weapons systems, other than research and
development.
3. Includes compensation of foreign personnel, consulting, training, and education.
National defense purchases
Durable goods
Military equipment
Aircraft
Missiles
Ships
Vehicles
Electronic equipment
Other
Other durable goods
Nondurable goods
Petroleum products
Ammunition
Other nondurable goods ....
Services
Compensation of employees
Military
Civilian
Other services
Contractual research and
development ... .
Installation support l
Weapons support2
Personnel support3
Transportation of material
Travel of persons
Other
Structures
Military facilities
Other
.1
7.2
82.3
283.3
282.8
291.8
287.6
280.6
271.0
265.6
263.1
80.3
78.6
81.3
80.7
77.5
74.7
74.1
72.8
75.7
27.5
15.6
72.6
24.9
16.8
75.7
25.5
17.1
74.6
25.8
16.6
71.5
25.2
16.4
68.3
23.1
17.1
67.9
20.9
16.6
66.6
20.7
17.1
11 3
4.2
6.7
103
4.5
103
4.3
6.3
99
6.0
99
4.3
6.5
124
5.6
106
5.3
7.1
94
6.1
107
4.6
5.7
89
6.0
101
3.3
5.8
89
6.4
96
3.8
6.0
109
6.3
96
3.7
5.5
100
6.1
9.3
10.4
11.0
9.9
10.0
10.8
9.7
9.5
3.7
29
3.1
3.2
35
2.8
3.6
31
2.6
3.7
37
3.0
4.2
34
3.4
3.3
37
3.0
3.6
36
2.8
3.8
40
3.0
188.3
189.6
195.1
192.5
189.5
181.1
177.2
176.0
1088
1086
1132
1100
74.5
35.5
1066
71.2
35.4
1046
69.0
35.6
1035
67.8
35.7
1025
66.6
35.9
722
366
795
729
357
81 0
77 A
81 9
825
829
766
737
735
297
234
233
237
20.3
20.3
24.8
21.3
19.7
20.4
19.9
21.3
20.1
21.2
10.6
9.5
11.6
5.1
3.8
-5
36.1
9.3
9.6
21.7
19.9
10.4
10.3
11.0
10.8
10.7
8.9
9.8
8.8
10.3
10.3
12.6
10.5
7.7
8.4
-.4
6.9
7.4
-.3
6.0
6.7
-.3
9.8
9.8
9.3
7.5
-.6
5.4
-.5
7.4
-.6
5.4
4.2
4.4
4.4
3.6
4.3
4.5
4.8
3.3
20
2.3
19
2.4
20
2.5
19
1.7
18
2.4
1.8
2.8
1.7
3.2
1.7
9.0
-1.0
1. Includes utilities, communications, rental payments, maintenance and repair, and payments to contractors to
operate installations.
2. Includes depot maintenance and contractual services for weapons systems, other than research and
development.
3. Includes compensation of foreign personnel, consulting, training, and education.
SURVEY OF CURRENT BUSINESS
August 1992 •
Table 4.1 .—Foreign Transactions in the National Income and Product
Accounts
Table 4.2.—Exports and Imports of Goods and Services and
Receipts and Payments of Factor Income in Constant Dollars
[Billions of dollars]
[Billions of 1987 dollars]
Seasonally adjusted at annual rates
1990
1991
1991
I
Receipts from rest of the world
Exports of goods
and services
Merchandise l
Durable
Nondurable . ..
Services ]
Receipts of factor income2
Capital grants received by the United
States (net)
Payments to rest of the world ...
Imports of goods
and services
Merchandise l
Durable
Nondurable
Services l
Payments of factor income3
Transfer payments (net)
From persons (net)
From government (net) .. ..
From business
Net foreign investment
717.6
741.7
II
Seasonally adjusted at annual rates
1992
III
733.0 737.5 740.1
IV
I
756.0 761.0
1990
757.5
594.3
421.1
284.2
136.8
173.2
602.3
423.5
285.2
138.4
178.8
622.9
437.7
293.3
144.3
185.3
628.1 625.9
437.3 435.7
293.2 293.0
144.1 142.7
190.8 190.2
160.6
143.2
137.8
133.1
132.9
0
159.8
0
741.7
0
0
0
733.0 737.5 740.1
0
0
131.5
0
756.0 761.0
757.5
625.9 620.0 602.0 609.6
507.8 499.9 485.2 489.5
314.5 315.3 305.1 305.7
193.3 184.6 180.1 183.9
118.1 120.1 116.7 120.0
629.5 638.9 636.2
508.7 516.2 513.1
323.1 327.5 330.2
185.6 188.7 182.9
120.8 122.7 123.1
662.5
539.0
341.1
197.9
123.6
139.9
126.5
124.5
122.3
113.3
120.8
27.9 -13.3 -61.8 -16.7
9.3
9.7
9.4
9.8
13.4 -28.3 -76.4 -31.8
5.2
5.2
5.3
5.3
9.1
9.9
-6.2
5.3
16.2
9.7
1.3
5.3
27.4
10.2
12.0
5.3
25.4
10.7
9.3
5.3
717.6
-76.1
126.0
9.0
130.8
62.1
18.2 -22.9
-21.5
-16.0
I
Exports of goods
and services
Merchandise l
Durable
Nondurable
Services l
Receipts of factor income2
Imports of goods and services
Merchandise '
Durable
Nondurable
Services l ....
Payments of factor income 3
1992
1991
1991
II
557.0 598.2 573.2
398.1 423.1 410.0
262.6 282.0 265.3
135.5 141.0 144.7
159.0 175.1 163.2
143.5
iy
510.0
368.5
249.2
119.3
141.4
539.4
392.5
266.4
126.1
146.9
515.9
377.4
251.1
126.3
138.5
141.1
120.8
II
III
IV
I
II
536.1 544.2 561.4 565.4 564.1
390.1 395.2 407.3 408.1 408.7
267.9 269.6 277.0 276.1 278.8
122.1 125.5 130.3 131.9 129.8
146.1 149.0 154.0 157.3 155.4
136.2
120.9
115.4
110.8
109.7
107.8
561.8 561.2 533.8
460.3 463.5 438.9
291.2 296.7 282.2
169.1 166.8 156.7
97.7
101.5
94.9
553.5
454.9
286.6
168.3
98.5
575.8
477.9
306.9
171.0
97.9
581.8
482.2
311.0
171.3
99.6
586.8
488.0
316.3
171.8
98.8
608.8
510.6
329.8
180.8
98.1
122.6
106.2
103.6
101.0
92.7
98.1
105.4
110.9
1. Exports and imports of certain goods, primarily military equipment purchased and sold by the Federal
Government, are included in services.
2. Consists largely of receipts by U.S. residents of interest and dividends and reinvested earnings of foreign
affiliates of U.S. corporations.
3. Consists largely of payments to foreign residents of interest and dividends and reinvested earnings of U.S.
affiliates of foreign corporations.
-51.3
1. Exports and imports of certain goods, primarily military equipment purchased and sold by the Federal
Government, are included in services.
2. Consists largely of receipts by U.S. residents of interest and dividends and reinvested earnings of foreign
affiliates of U.S. corporations.
3. Consists largely of payments to foreign residents of interest and dividends and reinvested earnings of U.S.
affiliates of foreign corporations.
Table 4.3.—Exports and Imports of Merchandise by End-Use Category
Table 4.4.—Exports and Imports of Merchandise by End-Use Category
in Constant Dollars
[Billions of dollars]
[Billions of 1987 dollars]
398.1
Exports of merchandise
Foods feeds and beverages
351
102.0
Industrial supplies and materials
357
Durable goods
663
Nondurable goods
153.3
Capital goods, except automotive
Civilian aircraft, engines, and parts ... 32.2
Computers, peripherals, and parts .... 25.9
Other
952
36.5
Automotive vehicles, engines, and parts
42.8
Consumer goods, except automotive
22.9
Durable goods
19.9
Nondurable goods
284
Other
Durable goods
14.2
14.2
Nondurable goods
507.8
Imports of merchandise
26.7
Foods, feeds, and beverages
Industrial supplies and materials, except
77.6
petroleum and products
39.0
Durable goods
38.7
Nondurable goods
62.3
Petroleum and products
116.0
Capital goods, except automotive
Civilian aircraft, engines, and parts ... 10.5
Computers, peripherals, and parts .... 23.0
82.5
Other
87.7
Automotive vehicles, engines, and parts
Consumer goods, except automotive
105.3
55.7
Durable goods
49.6
Nondurable goods
32.2
Other
16 1
Durable goods
16.1
Nondurable goods
Addenda:
40.2
Exports of agricultural products l
Exports of nonagricultural products ... 357.9
445.5
Imports of nonpetroleum products
1. Includes parts of line 2 and line 5.
423.1 410.0 421.1 423.5 437.7 437.3 435.7
357
106.4
372
692
345
331
110.2 106.5
38.6
402
37.9
104.1 104.9
104.2
105.0
367
364
361
358
366
736
380
685
378
662
68.5
68.1
69.2
167.0
155.7
169.4
166.7
176.3
176.4
174.1
36.4
27.3
30.8
27.2
42.6
27.4
37.7
28.6
977
107.6
106.4
107.8
40.0
45.9
23.8
22.2
35.1
46.2
23.7
22.4
35.4
26.8
1045
43.7
44.9
40.8
27.9
103.3
38.7
27.2
1034
39.7
44.5
23.2
21.3
42.9
47.9
46.2
48.6
279
282
278
274
13.9
13.9
14.1
14.1
13.9
13.9
13.7
13.7
41.7
48.2
24.9
23.2
28.1
14.0
14.0
499.9
?3?
21.7
?49
?50
23.0
25.6
12.8
12.8
23.7
23.9
12.0
12.0
485.2 489.5 508.7 516.2 513.1 539.0
26.5
25.6
27.6
26.3
26.4
26.8
29.1
75.6
36.3
39.2
51.2
73.4
35.7
37.7
51.7
75.3
36.0
39.2
51.7
75.5
36.5
38.9
52.5
78.0
37.0
41.0
48.8
80.9
39.6
41.3
83.5
41.1
42.5
51.9
120.7
119.2
120.4
121.3
10.8
24.8
83.6
81.2
12.2
25.8
12.5
27.1
11.5
26.8
12.1
27.7
13.5
30.7
8? 4
817
83 R
854
87?
79.1
90.8
88.6
87.8
89.3
11.7
26.1
82.9
84.9
415
122.1 125.1 131.4
118.7 116.2 119.0
630 60? 619
108.0
101.8
101.6
109.9
56.8
52.9
58.2
51?
490
32.2
16.1
16.1
3? 4
557
336
560
349
571
33.0
16.5
16.5
53.3
48.4
33.8
16.9
16.9
16.2
16.2
16.8
16.8
17.4
174
174
174
40.1
39.2
37.5
40.7
43.2
43.3
42.0
517
34,8
382.9 370.8 383.6 382.9 394.5 394.0 393.7
448.7 433.6 437.8 456.2 467.4 471.6 487.1
Exports of merchandise
Foods feeds, and beverages
Industrial supplies and materials
Durable goods
Nondurable goods
Capital goods, except automotive
Civilian aircraft, engines, and parts ...
Computers, peripherals, and parts ....
Other
Automotive vehicles, engines, and parts
Consumer goods, except automotive
Durable goods
Nondurable goods
Other
Durable goods
Nondurable goods
Imports of merchandise
Foods feeds and beverages
Industrial supplies and materials, except
petroleum and products
Durable goods
Nondurable goods
Petroleum and products
Capital goods, except automotive
Civilian aircraft, engines, and parts ...
Computers, peripherals, and parts ....
Other
Automotive vehicles, engines, and parts
Consumer goods, except automotive
Durable goods
Nondurable goods
Other
Durable goods
..
Nondurable goods
Addenda:
Exports of agricultural products '
Exports of nonagricultural products ...
Imports of nonpetroleum products
1.Includes parts of line 2 and line 5.
368.5 392.5 377.4 390.1
395.2 407.3 408.1 408.7
58.4
63.1
63.8
29.1
95.3
33.1
62.2
33.2
61.9
33.4
96.4
31.9
64.5
31.7
65.8
33.0
96.9
30.8
66.1
150.0
163.7
153.1
165.4
163.8
172.5
173.1
174.4
28.6
33.8
87.6
34.0
39.2
30.9
40.6
92.2
36.3
40.9
26.7
37.9
88.6
32.1
41.4
214
21 6
21 8
17.8
25.6
12.8
19.2
24.8
12.4
19.5
25.0
12.5
124
125
29.8
41.3
92.7
39.4
39.9
21.0
18.9
24.5
12.2
12.2
34.2
43.9
94.4
37.5
42.7
22.7
20.0
24.9
12.4
12.4
35.5
44.1
93.5
38.4
41.3
21.6
19.7
22.8
11.4
11.4
31.6
48.3
94.5
41.1
42.0
21.9
20.1
21.2
10.6
128
33.1
39.3
93.0
36.0
39.4
21.0
18.5
24.8
12.4
12.4
30.4
89.4
31 0
31.3
95.5
324
30.4
95.3
31 5
460.3 463.5 438.9
32.5
951
454.9 477.9
35.1
975
241
253
24.1
24.5
24.9
655
61 7
301
647
307
66.5
31.9
34.5
52.4
69.1
31 3
36.6
46.5
71.4
34.7
36.7
46.7
255
245
663
326
33.7
34.2
31.7
521
486
113.9 124.4
9.3 10.0
442
33.9
51.5
118.1 122.6
9.3 10.4
127.6
38.1
51.1
147.1
11.3
56.3
73?
740
770
795
80.7
97.7
78.3
76.4
77.5
10.5
43.9
731
731
73.3
89.2
46.6
70.7
90.2
47 fi
448
293
426
284
426
300
14.4
14.4
14.6
14.6
14.2
14.2
15.0
35.1
35.5
34.6
434
289
129.3 135.6
9.6 10.0
73.7
356
48.6
39.0
41.1
73.4
75.7
95.4
50.6
325
27.2
45.7
35.6
29.9
74.7
80.4
93.3
50.0
106
482.2 488.0 510.6
104.6 102.2 103.4
5?? 559 541 ,543
455
487
480
490
29.8
14.9
14.9
30.9
15.4
30.8
15.4
150
28.9
14.4
14.4
154
154
32.9
36.3
38.1
38.7
37.7
333.4 357.0 342.8 357.2 358.9 369.2 369.4 371.0
408.2 414.8 394.7 403.4 425.5 435.7 441.3 459.5
SURVEY OF CURRENT BUSINESS
l8 • August 1992
Table 5.1 .—Gross Saving and Investment
[Billions of dollars]
Seasonally adjusted at annual rates
1990
1991
1991
I
Gross saving
Gross private saving
Personal saving
Undistributed corporate
profits with inventory
valuation and capital
consumption adjusments
Undistributed profits
Inventory valuation adjustment
Capital consumption adjustment
Corporate consumption of
fixed capital
Noncorporate consumption
of fixed capital
Wage accruals less disbursements
Government surplus or deficit (-), national income
and product accounts
Federal
State and local
Capital grants received by
the United States (net)
Gross investment
Gross private domestic investment
Net foreign investment
Statistical discrepancy
1992
III
II
IV
I
II
718.0
708.2
754.1
701.3
679.4
698.2
677.5
692.1
854.1
175.6
901.5
199.6
889.4
192.8
896.9
195.3
884.9
191.0
934.8
219.4
950.1
214.6
973.4
236.1
75.7
69.4
75.8
64.2
77.7
65.7
78.1
63.2
69.0
64.5
78.3
63.4
104.0
86.2
99.5
88.0
-5.4
-15.9
23.3
27.4
-14.2
3.1
6.7
9.9
.20.5
8.4
5.3
5.1
368.3
383.0
379.7
234.6
243.1
239.2
0
0
0
-4.8
.7
9.3
14.1
382.5
383.5
386.3
386.1
390.9
241.0
241.4
250.7
245.3
246.9
0
0
0
0
0
-136.1 -193.3 -135.3 -195.6 -205.6 -236.6 -272.6 -281.3
-166.2 -210.4 -149.9 2122 -221.0 -258.7 -289.2 -299.6
17.1
30.1
0
14.6
16.5
0
15.4
16.6
18.3
0
0
723.4
730.1
767.5
728.4
709.9
714.6
706.5
720.6
799.5
-76.1
721.1
9.0
705.4
710.2
62.1
18.2
732.8
-22.9
736.1
-21.5
722.4
-16.0
771.9
-51.3
21.9
13.4
27.1
30.5
16.4
29.0
28.5
0
5.4
0
0
22.0
0
Table 5.4.—Fixed Investment by Type
Table 5.5.—Fixed Investment by Type in Constant Dollars
[Billions of dollars]
[Billions of 1987 dollars]
Seasonally adjusted at annual rates
1990
1991
1991
I
Fixed investment
Nonresidential
Structures
Nonresidential buildings, including
farm
Utilities
Mining exploration, shafts, and
wells
Other structures
Producers' durable equipment
Information processing and related
equipment
Computers and
peripheral
equipment1
Other
Industrial equipment
Transportation and related equipment
Other
Residential
Structures
Single family
Multifamily
Other structures
Producers' durable equipment
1992
III
IV
I
1990
577.6 541.1 551.4 545.8 538.4 528.7 531.0 549.2
201.1
180.1
190.0
185.2 175.6 169.7
170.1
169.0
150.1
127.4
137.9
132.4
122.6
116.8
115.8
27.2
28.6
28.0
28.6
28.9
29.0
30.5
112.9
30.9
15.4
15.3
16.5
15.6
14.5
14.5
13.5
10.3
8.3
8.8
7.6
8.7
9.6
9.4
376.5 360.9 361.4 360.6 362.8 358.9 360.8
13.4
1 1 -8
380.2
123.0
123.6
121.0
121.3
124.7
127.4
129.9
131.4
34.8
88.1
89.5
34.2
89.4
81.3
32.9
88.1
84.8
33.3
88.0
81.5
34.5
90.2
79.2
36.1
91.2
79.6
37.6
92.3
78.3
39.7
91.8
78.9
83.1
81.0
85.1
71.0
83.4
72.2
85.9
71.8
88.4
70.6
82.6
69.3
82.3
70.4
98.5
71.4
215.6 190.3 182.6 186.2 194.2 198.2 207.2
213.0
176.0 179.5 187.5 191.7 200.3
89.5
100.4 104.8 111.7
87.0
206.1
115.6
14.4
76.1
6.9
208.8 183.7
108.7
95.4
19.3
80.8
6.8
15.1
73.1
6.6
17.2
71.8
6.6
15.4
74.5
6.7
14.1
73.0
6.7
13.8
73.0
6.5
12.9
75.8
6.9
1991
1991
I
II
793.2 731.3 733.9 732.0 732.6 726.9 738.2 762.2
1. Includes new computers and peripheral equipment only.
II
Seasonally adjusted at annual rates
Fixed investment
Nonresidential
II
1992
III
IV
I
II
732.9 670.4 671.1 669.8 671.4 669.3 681.4 703.4
538.1 500.2 507.0 503.0 498.7 492.1 495.8 513.8
Structures
Nonresidential buildings, including
farm
Utilities
Mining exploration, shafts, and
wells
Other structures
179.1
157.6
166.8 162.2 153.0 148.4 149.4 147.9
134.9
113.0
122.5
117.5
108.3
103.6
103.0
100.1
24.1
25.0
24.6
25.1
25.2
25.2
26.5
26.7
12.6
11.7
12.8
11.9
11.0
11.1
10.5
10.4
10.7
Producers' durable equipment .......
Information processing and related
equipment
Computers and peripheral
equipment '
Other
Industrial equipment
Transportation and related equipment
Other
359.0 342.6 340.2 340.8 345.8 343.7 346.4 365.8
Residential
Structures
Single family
Multifamily
Other structures
Producers' durable equipment
7.6
7.9
6.8
7.7
8.5
8.5
9.4
130.0
136.1
129.8
131.9
139.0
143.8
148.2
153.9
45.3
84.7
79.0
51.4
84.7
68.9
46.0
83.7
72.3
48.4
83.5
69.4
53.6
85.4
67.1
57.6
86.2
67.0
61.5
86.8
65.7
67.9
85.9
65.8
76.7
73.2
75.0
62.5
74.2
64.0
76.0
63.4
77.7
62.0
72.3
60.6
71.2
61.2
84.3
61.9
194.8 170.2
188.2
97.6
17.3
73.3
6.5
164.1
166.9 172.6 177.3
163.9 157.8 160.4 166.3
85.5
13.6
64.8
6.4
1. Includes new computers and peripheral equipment only.
78.0
15.5
64.3
6.3
80.5
13.9
66.0
6.5
89.4
12.6
64.3
6.4
185.6 189.6
171.0 179.0 183.1
100.6 103.3
93.9
12.4
64.7
6.3
11.6
66.8
6.6
12.9
66.9
6.5
SURVEY OF CURRENT BUSINESS
Table 5.10.—Change in Business inventories by Industry
August 1992 • 19
Table 5.11.—Change in Business Inventories by industry in Constant
Dollars
[Billions of dollars]
[Billions of 1987 dollars]
Seasonally adjusted at annual rates
Seasonally adjusted at annual rates
1990
Change in business inventories
Farm
Nonfarm
Change in book value
Inventory valuation adjustment
Manufacturing
Durable goods
Nondurable goods
Wholesale trade
Durable goods
Nondurable goods
Merchant wholesalers
Durable goods
Nondurable goods
Nonmerchant wholesalers
Durable goods
Nondurable goods
Retail trade
Durable goods
Automotive
Other
Nondurable goods
Other
Durable goods
Nondurable goods
1991
1991
6.3 -10.2
3.1
0
I
II
-28.5
-21.8
III
3.3 -10.3 -27.4 -27.0
24.5 -14.0 -40.2 -38.1
-21.3
3.8 12.8
11.2
3.8 -7.5
.4 -11.3
3.4
3.8
5.0
2.3
2.7
3.7
2.5
1.2
1.3
-.2
1.5
-4.3
-2.5
15
-.9
-1.9
-1.2
-1.1
-1
.9
5.9
-7.1
.5 -11.9
1.9 -13.5
1.6
-1.5
2.4
1.4
-1.2
3.3 -12.6
-6.9
-14.0
10.2
1.4
2.9 -11.3
1.2 -12.0
1.7
.7
-2.4
-.6
.7 -1.5
-3.1
.9
1.8
3.1
-.8
-.1
-.7
2.2
21 4
-20.9
-16.4
-1.7
-1.4
—4
3^9
-.5
-5.9
-4.7
-1.1
-3.8
-3.8
4
-j
.7
14.5
16.3
-1.8
-13.3
56
9.0
15.5
31.7
-22.7
-7.8
7.4
9.4
-6.7
9.4 -10.1
6.1
3.3
3.4
17.4
10.5
-2.0
-5.1
3.1
1.6
1.4
.3
-2.0
-1.1
-.9
14.3
8.4
7.0
1.3
6.0
.9
-.9
1.8
13.4
-7.0
-3.8
-3.2
-2.1
6.3
9.7
-6.1
-9.5
7.0
14.4
-3.3
-9.8
-9.4
9.7
-2.4
-3.7
1.4
4.7
4.9
-.2
-4.5
9.2 -15.8
-5.3
-8.4
-12.5 -10.1
-16.3 -15.1 -11.2
-.3
5.0
2.8
3.9
3
3.4
-.7
-.6
-.1
-3.5
.2
7.3
5.4
1.9
12.5
10.4
1.1
-.3
1.4
5.1
5.4
2.0
-7.1
3.4
-2.8
-2.0
-2.4
Change in business inventories
Farm
Nonfarm
Manufacturing
Durable goods
Nondurable goods
. .
Wholesale trade
Durable goods
Nondurable goods
Merchant wholesalers
Durable goods
Nondurable goods
Nonmerchant wholesalers
Durable goods
Nondurable goods
Retail trade
Durable goods
Automotive
Other
Nondurable goods
Other
Durable goods .
Nondurable goods
6.2
-9.3
.3
2.5
3.7
3.7 -6.9
.4 -10.3
3.4
3.4
4.6
2.2
2.4
3.7
2.4
1.3
.8
-.2
1.1
-3.7
-2.3
-1.4
-.8
15
g
-1.0
.2
I
II
-25.1
-20.4
.6
-.4
4.1
1.6
-24.7
-9.6
1992
-24.5
2.7 -11.4
-12.8
1.4
8.9
-7.6
1.3 -11.1
1.9 -12.2
1.1
-.6
0
-1.3
2.2
1.5
2.9 -10.5
1.2 -10.8
1.7
.3
-1.6
-.6
.7 -1.4
-2.2
.8
-1.2
2.7
-.6
-.1
-.5
1.7 -19.8
-19.2
-1.6
-1.3
-15.2
-.3 ^.0
3.3
-.6
-5.3
-4.3
-1.0
-.2
-.3
11.8
-10.7
-1.5
-4.6
15.2
9.5
5.7
3.0
1.6
1.3
.2
4.8
-.7
.8
9
1.6
11.5
-6.0
26
'-1.8
8
-1.3
3.2
4.4
Inventories '
Farm
Nonfarm
Durable goods
Nondurable goods
Manufacturing
Durable goods
Nondurable goods
Wholesale trade
Durable goods
Nondurable goods
Merchant wholesalers
Durable goods
Nondurable goods
Nonmerchant wholesalers
Durable goods
Nondurable goods
Retail trade
..
Durable goods
Automotive
Other
Nondurable goods
Other
Final sales of domestic business2
Final sales of goods and
structures of
domestic business2
1991
97.6
101.1
96.9
90.5
93.0
995.7
988.5
988.6
577.1
418.6
571.7
416.8
569.1
419.5
991.6
568.5
423.1
992.1
568.3
423.8
416.6
269.3
147.2
411.9
265.2
146.7
409.9
262.7
406.7
259.4
404.0
256.4
147.1
147.3
147.6
234.8
231.4
147.6
231.8
146.6
235.5
236.0
150.8
149.6
148.7
84.0
83.7
85.2
85.9
87.3
208.0
204.7
204.6
208.8
209.8
134.0
131.2
129.8
133.0
132.4
74.0
26.8
16.8
10.0
73.5
26.6
16.4
10.2
74.8
27.2
16.8
10.4
75.9
26.7
16.6
10.1
77.4
26.2
16.4
247.0
248.9
252.5
255.8
257.4
116.8
119.1
121.3
121.5
124.9
60.0
56.8
61.7
57.4
63.5
57.8
63.1
58.4
65.0
59.8
130.2
129.7
131.1
134.3
132.5
97.3
96.4
94.5
93.6
94.7
393.8
399.3
401.8
403.9
411.1
1,091.6
92 0
9996
571.8
427.8
403.2
253.6
149.6
238.9
151.4
87.4
212.2
135 1
77.1
26.6
16 3
10.3
262.6
128 2
67.1
61.1
134.5
94.9
413.7
220.9
222.1
221.6
221.2
226.1
226.1
9.8
2.78
2.53
2.73
2.48
2.70
2.46
2.68
2.45
2.64
2.41
2.64
2.42
4.51
4.45
4.46
4.48
4.39
4.42
1. Inventories are as of the end of the quarter. The quarter-to-quarter change in inventories calculated from
current-dollar inventories in this table is not the current-dollar change in business inventories (CBI) component of
GDP. The former is the difference between two inventory stocks, each valued at their respective end-of-quarter
prices. The latter is the change in the physical volume of inventories valued at average prices of the quarter. In
addition, changes calculated from this table are at quarterly rates, whereas CBI is stated at annual rates.
2. Quarterly totals at monthly rates. Final sales of domestic business equals final sales of domestic product
less gross product of households and institutions and general government and includes a small amount of final
sales by farm.
-2.1
1.0
-3.1
1
Inventories
Farm
Nonfarm
...
Durable goods
Nondurable goods
Manufacturing
Durable goods
Nondurable goods
Wholesale trade
Durable goods ...
.
...
Nondurable goods
Merchant wholesalers
Durable goods
Nondurable goods
Nonmerchant wholesalers
Durable goods
Nondurable goods
Retail trade
Durable goods
Automotive
Other
Nondurable goods
Other
Final sales of domestic business2
Final sales of goods and
structures of
domestic business2
II
1992
III
IV
I
II
981.4
83.9
897.4
528.0
369.4
378.3
247.7
130.6
976.3
976.4
978.3
975.2
85.0
85.4
84.3
83.8
84.0
891.3
522.0
369.3
891.1
520.4
370.7
894.0
518.6
375.5
891.4
514.2
377.1
893.5
516.5
377.0
375.4
244.5
130.9
373.5
242.7
130.8
370.7
239.0
131.7
368.5'
235.6
132.9
366.8
233.2
133.6
207.4
134.9
72.5
204.6
131.8
72.8
204.6
131.0
73.6
207.9
133.1
74.8
206.5
130.9
75.7
208.1
132.9
75.2
183.3
119.6
63.7
24.1
15.3
8.8
180.6
116.9
63.8
24.0
15.0
9.0
180.2
115.7
64.5
24.4
15.3
9.1
184.0
118.1
65.9
23.9
15.0
8.9
182.8
116.0
66.8
23.7
14.9
8.8
184.1
118.1
66.0
24.0
14.8
9.1
222.4
108.6
56.7
51.9
113.8
222.8
109.7
57.8
51.9
113.1
226.0
111.6
59.4
52.1
114.4
229.0
111.8
59.2
52.5
117.3
229.2
113.4
60.4
53.0
115.8
232.0
115.7
61.6
54.1
116.3
977.5
89.4
88.5
87.0
86.3
87.1
86.6
339.8
342.0
342.0
342.1
346.0
346.2
195.1
195.0
194.0
193.5
197.2
196.3
2.89
2.64
2.85
2.61
2.86
2.61
2.86
2.61
2.82
2.58
2.82
2.58
4.60
4.57
4.59
4.62
4.52
4.55
Ratio of inventories to final sales of domestic
business
Ratio of inventories to final sales of domestic
business
Inventories to final sales
Nonfarm inventories to final sales
Nonfarm inventories to final sales of goods and
structures
I
II
1,093.3 1,089.6 1,085.5 1,082.1 1,085.1
9.3
4.6
4.7
2.1
Seasonally adjusted quarterly totals
1992
I
.9
-.3
1.2
-3.6
Seasonally adjusted quarterly totals
IV
5.3
8.5
11.4
[Billions of 1987 dollars]
III
6.2
8.2
-2.0
.5
6.5
4.8
1.7
[Billions of dollars]
II
2.6
-3.2
Table 5.13.—Inventories and Final Sales of Domestic Business
by Industry in Constant Dollars
I
-7.1
-9.7
3.5
-.7
-.5
-.1
Table 5.12.—Inventories and Final Sales of Domestic Business
by Industry
1991
.7
8.4
-4.9
-8.4
12.3
7.6
6.5
1.1
5.2
-3.4
-2.8
3.4
-1.8
-1.1
12.8
9.2
-5.6
-9.0
8.4
5.0
3.3
62
-3.6
-3.4
-1.9
13.3
-3.2
-2.8
-8.9
-8.6
-4.2
-11.3
-8.7
73 -14.8 -13.5
-.3
3.5
4.8
1.7
4.4
4.5
_ H
II
7.5 -12.6
-1.0
-6.2
.9
I
IV
III
1.1
-1.4
8
1991
1991
II
-8.2
-7.9
-1.4
-1.4
I
IV
.2
5.2
-1.1
1990
1992
Inventories to final sales
Nonfarm inventories to final sales
Nonfarm inventories to final sales of goods and
structures
1. Inventories are as of the end of the quarter. Quarter-to-quarter changes calculated from this table are at
quarterly rates, whereas the constant-dollar change in business inventories component of GDP is stated at annual
rates.
2. Quarterly totals at monthly rates. Final sales of domestic business equals final sales of domestic product
less gross product of households and institutions and general government and includes a small amount of final
sales by farm.
SURVEY OF CURRENT BUSINESS
2O • August 1992
Table 6.1 C—National Income Without Capital Consumption Adjustment
by Industry
Table 6.16C.—Corporate Profits by Industry
[Billions of dollars]
[Billions of dollars]
Seasonally adjusted at annual rates
Seasonally adjusted at annual rates
1990
1991
1991
I
II
1990
1992
III
IV
I
I
II
1992
III
IV
I
II
II
National income without capital consumption adjustment
4,496.5 4,587.5 4,539.4 4,575.6 4,595.4 4,639.5 4,704.5 4,739.6
Domestic industries .
4,475.7 4,570.1 4,510.4 4,558.9 4,582.2 4,628.8 4,684.9 4,729.0
Private industries
3,815.9 3,870.6 3,817.1 3,860.7 3,881.0 3,923.7 3,967.0 4,002.7
Agriculture, forestry, and
89.7
fisheries
95.4
96.9
90.9
96.5
84.5
92.9
Mining
37.1
38.4
36.4
36.7
36.3
35.5
36.0
Construction
222.7 210.1 208.3 206.7 211.9 213.6 214.4
Manufacturing
8554 841 0 831.7 8369 846.7 8486 8507
Durable goods
483.2 464.2 458.2 464.9 466.0 467.8 467.5
Nondurable goods
372.2 376.7 373.5 371.9 380.6 380.9 383.3
Transportation and public
utilities
325.9 335.2 332.6 338.1 333.6 336.4 339.2
Transportation
1371
1387
1398
1454
1408
1423
1426
94.7
Communications
96.2
91.9
95.3
95.1
95.2
97.9
Electric, gas, and san99.2
100.7
96.8
itary services
97.6
99.0
98.6
95.9
Wholesale trade
258.3 266.0 264.4 267.4 266.5 265.8 264.9
Retail trade
391.7
403.3 397.3 402.9 403.3 409.9 413.6
Finance, insurance, and
real estate
673.8 685.0 678.5 679.8 687.7 694.2 704.0
Services
954.3 1,002.4 976.1 996.1 1,010.5 1,026.9 1,048.8
726.2
659.8 699.4 693.3 698.2 701.2
Government .
705.0 717.8
10.7
20.7
Rest of the world
17.4
29.0
16J
13.3
10.8
19.6
1991
1991
Corporate profits with inventory
valuation and capital consumption adjustments
Domestic industries
Financial
Nonfinancial
Rest of the world .. ..
Receipts from the rest of the world ...
Less: Payments to the rest of the
world
361.7
346.3 349.6 347.3 341.2
347.1
384.0 390.6
296.0 279.8 274.7 280.9 279.3 284.2 315.3
47.7
49.9
48.5
49.6
248.3 229.9 226.2 231.4
65.7
67.7
2.0
52.8
48.9
59.6
328.2
55.8
226.5 235.3 255.7 272.3
66.5
62.5
74.8
69.7
66.3
61.7
61.9
59.8
62.9
59.1
68.7
67.1
-4.0
-5.2
-4.7
-2.2
-3.8
-1.6
62.4
66.8
4.3
Corporate profits with inventory
341.2 337.8 344.2 342.2 331.9 333.1 360.7 363.2
valuation adjustment
275.5 271.3 269.4 275.9 270.0 270.2 292.0 300.8
Domestic industries
59.7
70.1
65.8
56.7
59.7
60.7
Financial
60.9
63.6
21.4
18.8
18.5
20.2
20.9
20.2
20.0
19.8
Federal Reserve banks
47.3
Other
40.7
39.9
51.3
35.3
38.8
43.6
40.5
218.8 210.4 209.7 215.1 206.4 210.5 221.9 234.9
Nonfinancial
106.9
87.5
97.5
Manufacturing
89.3
87.6
90.3
91.8
31.8
40.5
23.3
26.2
24.8
Durable goods
25.8
29.0
1.4
.8
3.1
1.5
1.2
.2
Primary metal industries
1.1
4.1
6.1
6.3
5.4
5.8
6.0
Fabricated metal products ....
5.5
Industrial machinery and
9.2
11.3
9.9
9.7
6.8
8.6
equipment
8.9
Electronic and other electric
7.2
7.2
6.8
equipment
7.5
6.6
5.5
6.9
Motor vehicles and equip1.8
-2.6
-10.9
-6.9
-4.9
ment
-7.5
-4.3
7.4
Other
14.9
12.2
6.2
11.5
10.8
13.2
65.7
62.7
66.5
65.7
Nondurable goods
64.3
63.5
61.3
18.4
15.2
Food and kindred products ...
13.2
14.6
16.6
16.6
16.6
Chemicals and allied prod17.1
17.8
16.2
13.2
14.1
20.1
ucts
16.1
8.2
Petroleum and coal products
14.6
7.7 14.5
4.2
5.1
6.8
Other
24.5
22.9
22.5
20.0
23.1
23.8
25.9
49.4
Transportation and public utilities .. 43.9 46.1 46.9 49.6 42.2 45.6
39.9
44.1
41.7
44.5
35.8
44.0
Wholesale and retail trade
45.5
Other
32.1
30.7
35.1 ...„„.„
32.9
31.1
31.1
29.8
68.7
65.7
62.9
Rest of the world
74.8
66.3
61.9
66.5
SURVEY OF CURRENT BUSINESS
August 1992 •
21
Table 7.1 .—Fixed-Weighted and Alternative Quantity and Price Indexes
[Index numbers, 1987=100]
Seasonally adjusted
1990
I
Gross domestic product:
Current dollars
Quantity indexes:
Fixed 1987 weights
Chain-type annual weights ....
Benchmark-years weights
Price indexes:
Fixed 1987 weights
Chain-type annual weights
Benchmark-years weights
Implicit price deflator
Personal consumption expenditures:
Current dollars
Quantity indexes:
Fixed 1987 weights
Chain-type annual weights
Benchmark-years weights
Price indexes:
Fixed 1987 weiohts
Chain-type annual weights
Benchmark-years weights . .
Implicit price deflator
Durable goods:
Current dollars
Quantity indexes:
Fixed 1987 weights
Chain-type annual weights
Benchmark-years weights
Price indexes:
Fixed 1987 weights
Chain-type annual weights
Benchmark-years weights
Implicit price deflator
Nondurable goods:
Current dollars
Quantity indexes:
Fixed 1987 weights
Chain-type annual weights
Benchmark-years weights
Price indexes:
Fixed 1987 weights
Chain-type annual weights
Benchmark-years weights
Implicit price deflator
Services:
Current dollars
Quantity indexes:
Fixed 1987 weights
,
Chain-type annual weights
Benchmark-years weights
Price indexes:
Fixed 1987 weights
Chain-type annual weights
Benchmark-years weignts
Implicit price deflator
Gross private domestic investment:
Current dollars
Quantity indexes:
Fixed 1987 weights
Chain-type annual weights
Benchmark-years weights
Price indexes:
Fixed 1 987 weights
Chain-type annual weights
Benchmark-years weignts
Implicit price deflator
Fixed investment:
Current dollars
Quantity indexes:
Fixed 1987 weights
Chain-type annual weights
Price indexes:
Fixed 1987 weiohts
Chain-type annual weights
Benchmark-years weignts
Implicit orice deflator
Seasonally adjusted
1992
1991
1991
II
III
IV
126.7
I
1990
II
125.1
123.0 124.6
125.8
107.4 106.2
105.7 106.1
106.4 106.6 107.4 107.7
113.5
116.7
121.6
118.1
117.7 118.6
113.2 117.8 116.5 117.5 118.2
122.8 127.4
125.2
119.3
118.9
128.6 129.9
120.4
121.2
119.8 120.6
126.9 128.2 129.2 131.8 132.8
106.8 106.2 105.6 106.1
106.5 106.4 107.8 107.7
115.3 120.4 119.0 119.9 120.8 121.8 122.9 123.9
115.0 120.0 118.6 119.5 120.4 121.4 122.3 123.3
115.0
110.5
108.9 109.3 112.2
111.6 116.3
108.8
102.7
102.0 101.9
103.1
103.9
116.3
107.1 106.3
108.6
109.5 109.8 110.3 111.3
105.7 107.6 106.7
107.3
108.0 108.3 108.6 109.4
106.3
108.9 107.8
121.1
123.8
123.1
124.0
124.2 123.8 126.0 126.3
104.5
103.1
103.2
103.5
103.3 102.4 103.8
121.3
103.4
121.8 122.7
116.2 120.5
119.8
115.9 120.1
119.4 119.9 120.2 120.8 121.4 122.2
125.8
120.3
120.6
133.8 130.5 132.9 134.7 136.9 139.2 140.9
107.8 108.9 108.0 108.8 109.1 109.8 110.4 110.7
116.9 123.1 121.2
122.5
123.8 125.1 126.6 127.7
120.8
122.1
123.4 124.7
116.7 122.8
1991
126.1 127.3
106.7
96.2
94.1
94.8
97.8
98.2
96.4
103.0
98.6
88.2
86.2
86.7
89.7
90.3
89.3
95.1
Non residential:
Current dollars
Quantity indexes:
116.0 108.7
108.1
Benchmark-years weights
Price indexes:
Fixed 1987 weights
Chain-type annual weights ....
Benchmark-years weights
Implicit price deflator
Structures:
Current dollars
Quantity indexes:
Fixed 1987 weights
Chain-type annual weights
Benchmark-years weights .
Price indexes:
Fixed 1987 weiohts
Chain-type annual weights
Benchmark-years weights .
Implicit price deflator
Producers' durable equipment:
Current dollars
Quantity indexes:
Fixed 1987 weights
Chain-type annual weights
Benchmark-years weights .
Price indexes:
Fixed 1987 weights
Chain-type annual weights
Benchmark-years weights .
Implicit price deflator
Residential:
Current dollars
Quantity indexes:
Fixed 1987 weiohts
Chain-tvoe annual weiohts
Benchmark-years weights
Price indexes:
Fixed 1987 weights
Chain-type annual weights
Benchmark-years weights
Exports of goods and services:
Current dollars
Quantity indexes:
Fixed 1987 weights
Chain-type annual weights
Benchmark-years weights
Price indexes:
Fixed 1987 weights
Chain-tvoe annual weiohts
Benchmark-years weights
Implicit price deflator
107.3
110.8
109.6
110.1
III
101.0 100.2
110.2
92.0
110.9 108.1
97.3
112.4 114.3 113.9
94.7
IV
I
II
108.2 106.2 106.7 110.3
98.9
99.6
103.2
110.6 110.7 110.8 111.2
108.2 108.7 108.5 108.0
117.4 105.1
104.6
II
100.5 101.9
108.3 110.4
1992
1991
I
107.4 107.1 106.9
102.5
99.1
99.3
98.7
89.3
86.6
87.2
86.4
114.2 114.9
114.4
114.0 114.4
114.3 113.9
114.2
114.8 114.4 113.9 114.3
115.3 110.6 110.7
110.5
111.1 110.0 110.5 116.5
112.3
104.2
104.4 105.9 105.3
106.1 112.1
110.0
104.9
106.1
108.3 108.1
104.9
105.4
95.7
84.5
81.1
82.7
86.2
88.0
92.0
94.6
86.5
75.6
72.8
74.1
76.6
78.7
82.4
84.2
111.9 111.7
112.4
108.1 108.3
108.7 109.2 109.4
106.2 105.8 104.9 104.5 104.2
110.8
111.8 111.4 111.6 112.5
110.7
111.8
111.3
153.0 164.4 157.5
140.1
148.2 141.8
110.1
112.4
111.6
112.5 111.8
163.3 165.5 171.2
103.9
111.7
112.3
172.6
172.0
147.3
149.5
154.2
155.3 155.0
112.4 112.3
112.1
112.8 -113.0 113.5
109.2 110.9
111.1 110.9 110.7 111.0 111.1 111.0
123.4 122.3
118.7
Imports of goods and services:
109.7 101.2
101.4
92.7
101.5 101.2 101.3 100.5 102.1 105.4
92.8
109.1 110.8 110.5
92.6
92.9
92.6
94.2
97.3
110.6 111.2 111.1 111.1 111.5
.. ..
108.2 109.1
109.4 109.3 109.1 108.6 108.3 108.4
Quantity indexes:
Fixed 1987 weights
Chain-type annual weights
Benchmark-years weiohts
Price indexes:
Fixed 1987 weights
Chain-type annual weights
Benchmark-years weights
Implicit price deflator
120.2
110.8
110.7 105.3 109.2
112.6
113.7
124.1
126.0 125.5 130.7
113.6 114.8
115.7
120.1
115.4
113.0 112.8 113.7 112.9 114.2
111.4 110.5 112.8
110.1 109.3 109.8 108.4 108.8
SURVEY OF CURRENT BUSINESS
22 • August 1992
Table 7.1.—Fixed-Weighted and Alternative Quantity and Price IndexesContinued
Table 7.2.—Fixed-Weighted and Alternative Quantity and Price Indexes
for Domestic Product, Final Sales, and Purchases
[Index numbers, 1987=100]
[Index numbers, 1987=100]
Seasonally adjusted
1990
Government purchases:
Current dollars
Quantity indexes:
Fixed 1987 weights
Chain-type annual weights
Benchmark-years weights
Price indexes:
Fixed 1987 weights
Chain-type annual weights .
Benchmark-years weights
Implicit price deflator
Federal:
Current dollars
Quantity indexes:
Fixed 1987 weights
Chain-type annual weights
Benchmark-years weights
Price indexes:
Fixed 1987 weights . .
Chain-type annual weights .
Benchmark-years weights
Implicit price deflator ..
National defense:
Current dollars
Quantity indexes:
Fixed 1987 weights
Chain-type annual weights
Benchmark-years weights ... .
Price indexes:
Fixed 1987 weights
Chain-type annual weights
Benchmark-years weights
Implicit price deflator
Nondefense:
Current dollars
Quantity indexes:
Fixed 1987 weights
Chain-type annual weights ....
Benchmark-years weights
Price indexes:
Fixed 1987 weights
Chain-type annual weights
Benchmark-years weights
Implicit price deflator
State and local:
Current dollars
Quantity indexes:
Fixed 1987 weights
Chain-type annual weights
Benchmark-years weights
Price indexes:
Fixed 1987 weights
Chain-type annual weights
Benchmark-years weights
Implicit price deflator
1991
Seasonally adjusted
1992
1991
1990
I
II
III
IV
I
II
123.7
118.3
123.7
123.4
124.0
123.7
125.1
125.9
105.5
106.7
107.2 107.3 106.7
105.8
106.3
106.1
112.5
116.5 115.5
117.7
118.6
119.5
116.0
116.9
112.2 115.9 115.1 115.4 116.3
110.8 116.2 117.2 116.9
116.9 117.7 118.6
116.2 114.5 115.6 115.7
102.4
102.3
100.6
98.2
97.5
97.1
116.7 115.5
115.9
116.9
118.3
120.1
120.8
111.2 115.2 114.5
114.3
115.5
116.6
118.6
119.2
99.7
112.0
100.9
107.5
110.9
113.8
111.6
110.2
107.8
107.4
106.9
97.0
96.8
99.9
98.5
96.1
92.8
90.9
90.1
112.2 116.5 115.4 115.5 116.7
118.5
110.8
114.5 113.9 113.3 114.7 116.2
120.2 121.0
118.1
118.7
143.3
127.9
133.5
135.0
135.7
141.5
108.0
113.6 110.1
114.3
114.8
115.4
118.1 119.1
111.5
117.0 115.9
116.9
117.6
117.7
119.7
120.2
112.0
117.1
116.8
117.6 117.6 119.8
120.3
121.0 133.0
116.2
124.2
129.5
128.1
129.0
130.1
130.8
132.5
133.7
110.0
111.3
111.0
111.1
111.4
111.7
113.1
113.2
112.9
116.4 115.5 116.2 116.9 117.2
117.4 118.4
112.9
116.4
117.1
117.1 118.2
115.5
116.1
116.8
NOTE.—The quantity and price indexes in this table are calculate from weighted averages of the detailed output
and prices used to prepare each aggregate and component. The fixed weighted measures use as weights the
composition of output in 1987. For the alternative indexes, the chain-type indexes with annual weights use weights
for the preceding and current years, and the indexes with benchmark-years weights use weights of 1959, 1963,
1967, 1972, 1977, 1982, and 1987 and the most recent year Percent changes from preceding period for selected
items in this table are shown in table 8.1.
Gross domestic product:
Current dollars
Quantity indexes:
Fixed 1987 weights
Chain-type annual weights
Benchmark-years weights
Price indexes:
Fixed 1987 weights
Chain-type annual weights
Benchmark-years weignts
Implicit price deflator
Final sales of domestic product l:
Current dollars
Quantity indexes:
Fixed 1987 weights
Chain-type annual weights
Benchmark-years weights
Price indexes:
Fixed 1987 weights
Chain-type annual weights
Benchmark-years weights
Implicit price deflator
Gross domestic purchases 2:
Current dollars
Quantity indexes:
Fixed 1987 weights
Chain-type annual weights
Benchmark-years weights
Price indexes:
Fixed 1987 weights
Chain-type annual weights
Benchmark-years weights
Implicit price deflator
Final sales to domestic purchasers 3:
Current dollars
Quantity indexes:
Fixed 1987 weights
Chain-type annual weights
Benchmark-years weights
Price indexes:
Fixed 1987 weights
Chain-type annual weights
Benchmark-years weights
Implicit price deflator
1992
1991
1991
I
II
III
IV
I
II
125.1
123.0
124.6
125.8
126.7
128.6
129.9
107.4 106.2
105.7
106.1
106.4
106.6
107.4
107.7
113.5 118.1 116.7
117.7
118.6
119.3
120.4
121.2
113.2 117.8 116.5
117.5
118.2
118.9
119.8
120.6
121.6
122.2
124.4
125.8
126.6
127.3
129.7
130.5
107.9 107.0 106.8
107.2
107.0
107.0
108.3
108.2
113.6
118.2
116.8
117.8
118.7
119.4
120.4
121.3
113.2
117.8
116.4
117.4
118.3
118.9
119.8
120.6
119.4 121.7
119.9
121.1
122.6
123.2
124.9
126.7
103.4
102.8
103.2
103.9
103.8
104.5
105.4
113.7 118.1 116.9
117.6
118.5
119.2
120.2
121.0
113.4
117.7
116.6
117.3
118.0
118.7
119.5
120.3
119.9
122.6
121.2
122.3
123.3
123.7
125.9
127.2
105.7
104.2 103.9
104.3
104.4
104.2
105.4
105.8
113.8
118.2
117.0
117.8
118.6
119.3
120.2
121.1
113.4
117.7 116.6
117.3
118.0
118.7
119.5
120.3
105.3
126.0
1. Equals GDP less change in business inventories.
2. Equals GDP less net exports of goods and services or the sum of personal consumptions expenditures,
gross private domestic investment, and government purchases.
3. Equals gross domestic purchases less change in business inventories or the sum of personal consumption
expenditures, gross private domestic fixed investment, and government purchases.
NOTE—Percent changes from preceding period for selected items in this table are shown in table 8.1.
SURVEY OF CURRENT BUSINESS
Table 7.3.—Fixed-Weighted and Alternative Quantity and Price Indexes
for Gross National Product and Command-Basis Gross National
Product
August 1992 • 23
Table 7.6.—Price Indexes for Fixed Investment by Type, Fixed
1987 Weights
[Index numbers, 1987=100]
[Index numbers, 1987=100]
Seasonally adjusted
Seasonally adjusted
1990
1991
1990
I
II
III
IV
I
I
109.1 110.8
Less: Exports of goods and services
and receipts of factor income:
Current dollars ...
Quantity index, fixed 1987 weights
Plus: Command-basis exports of
goods and services and receipts
of factor income:
Current dollars
Quantity index, fixed 1987 weights
Equals: Command-basis gross national product:
Current dollars .. .
Quantity index, fixed 1987 weights
122.0
125.3
123.6
124.9
126.0
126.8 128.9
130.0
107.7
106.4
106.1
106.3
106.6
106.7
107.6
107.8
113.5
118.1 116.7
117.7
118.6
119.3
120.4
121.2
113.2
117.8
117.4
118.2
118.9
119.8
120.6
153.0
138.8
158.1
140.8
153.0
136.8
164.4
141.3
122.0
107.5
125.3
106.5
156.3
139.1
157.5
137.5
123.6
105.9
157.2
140.1
163.3
140.9
124.9
106.4
157.8
140.6
165.5
142.2
126.0
106.7
161.2
143.3
171.2
144.6
126.8
106.8
162.3
143.9
172.6
147.1
128.9
107.9
161.5
143.3
172.0
145.7
130.0
108.1
NOTE.—Percent changes from preceding period for selected items in this table are shown in table 8.1.
Table 7.4.—Price Indexes for Personal Consumption Expenditures
by Major Type of Product, Fixed 1987 Weights
[Index numbers, 1987=100]
Personal consumption expenditures
Durable goods
Motor vehicles and parts
Furniture and household equipment ..
Other
Nondurable goods
Food
Clothing and shoes
Gasoline and oil
Fuel oil and coal
Other
Services
Housing
Household operation
Electricity and gas
Other household operation
Transportation
Medical care . .
Other
115.3 120.4 119.0
III
IV
I
II
110.5 110.6
Structures
Nonresidential buildings, including
farm
Utilities
Mining exploration, shafts, and
wells
Other structures
112.4 114.3 113.9
Producers' durable equipment
Information processing and related
equipment
Computers and peripheral
equipment ]
Other1
Industrial equipment
Transportation and related equipment
Other
106.1 108.3 108.1
111.3 112.8
113.3 114.4
122.7
110.0
111.2
111.1 111.1 111.5
110.4 110.1 110.2 110.6 110.7 110.8 111.2
112.5
113.8
130.5 128.9
112.2 111.7
114.2 114.9 114.4 114.0 114.4
112.6
114.2
113.2
114.8
130.7 132.3
112.8 112.7
112.8 112.4 112.8
114.8 115.1 115.8
130.5
111.6
129.9
110.0
129.2
111.0
108.1 108.3 108.7 109.2 109.4
96.2
94.6
95.6
95.0
94.0
93.8
93.8
93.5
78.6
70.0
99.2
74.0
71.8
68.3
66.9
65.3
63.3
105.4 105.6 105.8 106.1 106.8 107.3
100.4
113.4 117.9 117.5 117.3 117.9 118.7 119.1 119.7
108.8
111.0
113.4
114.4
112.4 112.9 113.7 114.7 115.9
113.5 114.0 114.7 115.2 115.6
116.6
116.1
111.9 111.7 112.4
110.8
111.8 111.4 111.6 112.5
Structures
Single family
Multifamily
Other structures
111.0
111.4
111.2
110.2
112.0
111.7
111.4
112.8
111.9
111.0
110.7
113.5
112.6
111.9
111.6
113.8
Producers' durable equipment
104.1 104.2 104.3 103.6 105.5 103.6 104.4
105.0
Residential
111.6
111.5
111.3
111.7
111.8
111.2
110.9
112.9
112.7
112.3
112.0
113.5
112.1
111.7
111.4
113.0
Addenda:
Price indexes for fixed investment:
Chain-type annual weights
Benchmark-years weights
1. Includes new computers and peripheral equipment only. Prior to 1982, all computers and peripheral
equipment are included in other information processing and related equipment (line 11).
NOTE—Percent changes from preceding period for selected items in this table are shown in table 8.1.
119.9
120.8 121.8 122.9 123.9
106.3 108.9 107.8 108.6 109.5 109.8 110.3 111.3
105.4
102.4
108.8
103.0
107.2
102.7
108.5
102.9
1159
1205
1186
1194
109.6 109.9
103.3 102.9
121 2 1228
110.0
103.8
111.6
104.1
1235
1245
Table 7.9.—Price Indexes for Exports and Imports of Goods
and Services and for Receipts and Payments of Factor Income,
Fixed 1987 Weights
[Index numbers, 1987=100]
116.2 120.5 119.8 120.3 120.6 121.3 121.8 122.7
115.7
111 4
125.6
125.5
120.1
119.1
120.4
120.3
120.6
121.3
121.7
1153
1238
1141
1289
1151
1226
1155
1166
1176
1180
121.2
130.3
1175
1237
1220
1231
1242
121.7 122.1 119.9
117.0 117.3 120.5 113.5
1255
1264
122.8
115.1
1279
116.9 123.1 121.2
122.5 123.8 125.1 126.6 127.7
1154
1059
1056
1060
1202
1098
1088
1106
1187
1197
1205
108.9
109.3
110.1
121 7 1230 1237
110.8 111.4 112.2
1080
1105
1087
1101
114.5
1242
1174
1085
121.9
109.3
120.1
120.8
1328
1299
1320
123.7
121.6
123.1
111 4 111.3
122.7 124.2
135.6
1337
125.6
1245
1096
1104
113.0
127.3
137.6
126.9
113.8
126.1
139.5
128.3
Addenda:
Price indexes for personal consumption expenditures:
Chain-type annual weights
Benchmark-years weights
NOTE.—Percent changes from preceding period for selected items in this table are shown in table 8.1.
108.3
Nonresidential
116.4
II
II
Fixed investment
Gross national product:
Current dollars
Quantity indexes:
Fixed 1987 weights
Chain-type annual weights
Benchmark-years weights
Price indexes:
Fixed 1987 weights
Chain-type annual weights
Benchmark-years weights
Implicit price deflator
1992
1991
1991
1992
1991
Exports of goods and services
110.1 112.4 112.4 112.3 112.1
112.8
113.0
113.5
109.3
106.9
113.5
112.0
109.8
108.4
112.1
118.9
110.3
108.1
114.1
117.6
109.9
108.3
112.5
118.3
109.2
108.5
110.4
119.3
109.8
108.8
111.5
120.3
109.6
109.3
110.1
121.2
109.9
109.4
110.7
122.1
Receipts of factor income2
113.9
118.7
117.3
118.4
119.4
120.1
121.2
122.0
Imports of goods and services
112.6
113.7
115.4
113.0
112.8
113.7
112.9
114.2
111.5
109.9
114.2
117.5
111.2
111.4
110.8
125.0
113.1
111.8
115.3
125.8
110.7
111.3
109.6
123.6
110.1
110.9
108.7
125.1
111.2
111.6
110.3
125.3
110.0
111.7
106.8
126.0
111.3
112.2
109.6
127.5
114.1
119.6
118.0
119.2
120.3
121.1
122.3 123.1
Merchandise ]
Durable
Nondurable
Services '
Merchandise ]
Durable
Nondurable
Services1
Payments of factor income3
Addenda:
Price indexes for exports of goods
and services:
Chain-type annual weights
Benchmark-years weights
Price indexes for imports of goods
and services:
Chain-type annual weights
Benchmark-years weights
1. Exports and imports of certain goods, primarily military equipment purchased and sold by the Federal
Government, are included in services.
2. Consists largely of receipts by U.S. residents of interest and dividends and reinvested earnings of foreign
affiliates of U.S. corporations.
3. Consists largely of payments to foreign residents of interest and dividends and reinvested earnings of U.S.
affiliates of foreign corporations.
NOTE— Percent changes from preceding period for selected items in this table are shown in table 8.1.
24 • August 1992
SURVEY OF CURRENT BUSINESS
Table 7.10.—Price Indexes for Exports and Imports of Merchandise
by End-Use Category, Fixed 1987 Weights
Table 7.11.—Price Indexes for Government Purchases by Type,
Fixed 1987 Weights
[Index numbers, 1987=100]
[Index numbers, 1987=100]
Seasonally adjusted
1990
Exports of merchandise
Foods, feeds, and beverages
Industrial supplies and materials
Durable goods
Nondurable goods
Capital goods, except automotive
Civilian aircraft, engines, and parts ...
Computers, peripherals, and parts ....
Other
Automotive vehicles, engines, and parts
Consumer goods, except automotive
Durable goods
Nondurable goods
Other
Durable goods
Nondurable goods
Imports of merchandise
Foods, feeds and beverages
Industrial supplies and materials, except
petroleum and products
Durable goods
Nondurable goods
Petroleum and products
Capital goods, except automotive
Civilian aircraft, engines, and parts ...
Computers, peripherals, and parts ....
Other
Automotive vehicles, engines, and parts
Consumer goods, except automotive
Durable goods
Nondurable goods
Other
Durable goods
Nondurable goods
Addenda:
Exports of agricultural products ]
Exports of nonagricultural products ...
Imports of nonpetroleum products
1. Includes parts of line 2 and line 5.
Seasonally adjusted
1991
1991
1990
1992
I
II
III
IV
I
II
109.3
109.8
110.3
109.9
109.2
109.8
109.6
109.9
115.7
114.1
115.5
113.4
103.8
112.3
114.8
111.4
115.2
109.7
105.4
117.8
112.9
115.4
116.2
115.1
104.9
115.5
115.5
111.7
115.1
110.2
105.3
117.1
113.6
109.5
115.0
107.0
105.5
118.9
117.9
109.0
114.6
106.4
105.9
119.3
117.2
107.2
114.7
103.8
106.0
120.2
116.8
108.6
117.0
104.8
105.7
119.5
78.1
69.4
73.5
71.2
67.4
66.1
64.7
62.3
109.8
107.4
110.7
109.9
111.3
111.2
111.2
111.2
113.7
110.5
113.8
111.7
115.7
112.5
112.5
112.5
112.2
109.5
112.8
111.5
114.0
112.7
112.7
112.7
113.1
110.2
114.4
112.4
116.1
112.3
112.3
112.3
114.2
110.9
113.7
111.2
115.8
112.1
112.1
112.1
115.1
111.2
114.3
111.4
116.8
112.7
112.7
112.7
115.5
111.8
117.7
117.4
118.1
112.6
112.6
112.6
115.9
112.3
117.9
116.2
119.5
113.0
113.0
113.0
111.5
111.2
113.1
110.7
110.1
111.2
110.0
111.3
104.0 108.4 108.0 109.1
108.2 108.8
111.7 107.2
116.8
117.9
115.6
119.6
105.2
112.6
113.4
113.7
113.2
100.2
104.9
118.9
113.6 114.3
114.1 116.2
113.2 112.3
88.7 101.6
105.0 103.8
120.2 119.5
114.9
114.5
115.3
105.2
106.2
117.7
117.8
116.1
119.8
117.0
107.9
115.4
115.8
115.3
116.3
100.5
106.1
117.1
112.8
112.8
112.8
104.9
106.0
119.3
80.3
71.7
75.4
73.2
70.9
68.6
66.8
65.1
111.0
108.8
113.3
112.4
114.5
111.5
1.11.5
111.5
114.2
112.5
114.0
113.9
114.1
112.8
112.8
112.8
115.5
111.2
114.8
114.6
114.9
113.5
113.5
113.5
113.7
112.2
113.4
113.3
113.6
112.8
112.8
112.8
112.8
112.8
113.5
113.5
113.5
112.2
112.2
112.2
114.7
113.6
114.5
114.6
114.5
112.7
112.7
112.7
113.9
114.7
115.0
113.7
116.6
112.9
112.9
112.9
112.8
114.9
116.5
116.3
116.7
113.0
113.0
113.0
114.3
108.6
110.5
112.9 112.1 114.2 111.6
109.4 110.1 109.3 108.9
111.9 112.6 111.9 111.3
114.4 113.2 112.9
109.2 109.1 109.5
111.9 112.4 112.4
Government purchases
Federal
National defense
Durable goods
Nondurable goods
Services
Compensation of employees
Military
Civilian
Other services
Structures
Nondefense
Durable goods
Nondurable goods
Commodity Credit Corporation
inventory change
Other nondurables
Services
Compensation of employees
Other services
Structures
State and local
Durable goods
Nondurable goods
Services
Compensation of employees
Other services . . .
Structures
Addenda:
Price indexes for government purchases:
Chain-type annual weights
Benchmark-years weights
Price indexes for Federal national defense purchases:
Chain-type annual weights
Benchmark-years weights
Price indexes for Federal nondefense
purchases:
Chain-type annual weights
Benchmark-years weights
Price indexes for State and local purchases:
Chain-type annual weights
Benchmark-vears weiahts
1991
1991
1992
I
II
III
IV
I
II
112.5
116.5
115.5
116.0
116.9
117.7
118.6
119.5
112.0
116.7
115.5
115.9
116.9
118.3
120.1
120.8
112.2
108.9
125.5
112.8
115.3
114.8
116.2
109.3
116.1
116.5
111.6
121.1
118.6
122.1
121.5
123.3
113.6
118.0
115.4
111.8
128.4
116.3
119.3
117.9
122.1
112.1
117.3
115.5
110.7
117.9
117.6
120.8
119.7
123.0
113.1
117.9
116.7
110.8
117.5
119.3
123.1
122.9
123.7
113.8
120.6
118.5
113.0
120.6
121.2
125.1
125.4
124.6
115.5
116.1
120.2
112.9
112.0
124.3
130.7
131.2
129.6
115.2
116.3
121.0
113.5
116.1
125.0
132.0
132.9
130.1
115.2
118.4
119.7
103.0
120.2
102.4
111.5 117.0
104.5 106.6
115.9 116.9 117.6 117.7
107.2 106.7 107.1 105.6
109.1
113.3
115.5
110.2
110.6
108.7
119.4
122.4
115.2
113.3
107.9
118.0
121.4
113.3
112.5
108.8
118.9
122.2
114.4
113.5
109.3
119.9
122.7
116.0
113.8
108.6
120.8
123.4
117.2
113.3
109.0
123.8
128.4
117.3
112.6
110.3
124.1
128.7
117.6
113.3
112.9
108.2
115.6
113.5
116.5
116.4
111.2
115.1
118.1
122.0
115.5
110.6
116.7
116.7
120.1
116.2
110.8
114.6
117.7
121.4
116.9
111.3
114.9
118.7
122.6
117.2
111.9
114.5
119.4
123.7
117.4
112.4
113.4
120.3
124.9
118.4
113.2
115.9
121.2
126.3
76.5
79.8
77.9
76.1
72.1
70.0
66.0
110.5 110.4
111.2
111.1
81.7
109.6
109.5 107.4 107.7
SURVEY OF CURRENT BUSINESS
August 1992 • 25
Table 7.12.—Price Indexes for National Defense Purchases, Fixed
1987 Weights
Table 7.14.—Implicit Price Deflators for Gross Domestic Product
by Sector
[Index numbers, 1987=100]
[Index numbers, 1987=100]
Seasonally adjusted
1990 1991
I
National defense purchases
Durable goods
Military equipment
Aircraft
Missiles
Ships
Vehicles
Electronic equipment
Other
Other durable goods
Nondurable goods
Petroleum products
Ammunition
Other nondurable goods
Services
Compensation of employees
Military
Civilian
Other services
Contractual research and development
Installation support2 l
Weapons support 3
Personnel support
Transportation of material
Travel of persons
Other
Structures
Military facilities
Other
Addenda:
Price indexes for national defense
purchases:
Chain-type annual weights
Benchmark-years weights
Seasonally adjusted
1991
II
1990 1991
1992
III
IV
I
II
112.2
116.5
115.4
115.5
116.7
118.5
120.2
121.0
108.9
111.6
111.8
110.7
110.8
113.0
112.9
113.5
108.9
111.5
100.4
110.0
110.7
105.9
113.0
108.0
112.0
114.0
102.7
117.3
115.2
107.0
115.4
107.6
112.2
114.0
106.8
114.9
112.9
106.8
114.9
108.3
111.0
112.4
101.5
117.9
113.8
106.8
115.5
108.0
111.2
112.5
101.2
117.7
115.4
107.1
115.9
107.3
113.6
117.1
101.3
118.7
118.8
107.6
115.4
106.7
113.5
116.8
101.3
118.3
119.1
107.8
115.2
107.1
114.2
117.6
100.8
118.6
119.9
109.4
117.4
106.8
125.5
121.1
128.4
117.9
117.5
120.6
112.0
116.1
145.6
112.3
116.1
132.1
109.5
120.1
152.8
109.3
120.0
120.1
112.5
120.6
123.9
108.1
119.5
131.7
108.2
120.3
108.8
107.9
119.4
118.4
110.5
118.8
112.8
118.6
116.3
117.6
119.3
121.2
124.3
125.0
115.3
114.8
116.2
109.3
122.1
121.5
123.3
113.6
119.3
117.9
122.1
112.1
120.8
119.7
123.0
113.1
123.1
122.9
123.7
113.8
125.1
125.4
124.6
115.5
130.7
131.2
129.6
115.2
132.0
132.9
130.1
115.2
106.1
110.7
109.9
118.0
96.5
107.3
108.8
113.6
115.6
126.7
102.5
112.3
107.7
112.6
113.0
123.9
100.6
111.7
108.8
112.8
114.9
125.5
101.9
112.7
108.8
114.1
116.0
126.3
101.8
113.5
110.1
114.8
118.4
131.1
105.6
111.5
109.9
113.5
118.0
132.6
103.7
112.5
110.0
113.6
118.8
132.4
101.9
111.0
116.1
108.0
131.0
118.0
109.6
133.3
117.3
109.1
132.3
117.9
110.5
131.5
120.6
110.9
138.4
116.1
108.0
131.0
116.3
111.5
125.1
118.4
113.2
127.8
1. Includes utilities, communications, rental payments, maintenance and repair, and payments to contractors to
operate installations.
2. Includes depot maintenance and contractual services' for weapons systems, other than research and
development.
3. Includes compensation of foreign personnel, consulting, training, and education.
Table 7.13.—Implicit Price Deflators for the Relation of Gross
Domestic Product, Gross National Product, Net National Product,
and National Income
[Index numbers, 1987=100]
Gross domestic product
Plus: Receipts of factor income from
the rest of the world *
Less: Payments of 2factor income to the
rest of the world
Equals: Gross national product
Less: Consumption of fixed capital
Equals: Net national product
Less: Indirect business tax and nontax
liability plus business transfer payments less subsidies plus current
surplus of government enterprises ....
Statistical discrepancy
Equals: National income
Addenda:
Net domestic product
Domestic income
113.2 117.8
116.5
113.8 118.7 117.3
118.9
119.8
120.6
118.4 119.4 120.1
121.2
122.0
117.5
114.0 1 1.9.5 117.9 119.1
113.2
117.8
116.4
117.4
118.2
120.2
121.1
122.3
123.1
118.2
118.9
119.8
120.6
108.6
110.0 110.0
110.2 109.7
110.0 109.5
110.4
113.8
118.8
117.3
118.4
119.4
120.1
121.2
122.0
117.6 128.4
112.8 117.1
126.3
115.9
125.8
116.8
130.7
117.5
130.7
118.0
131.2
118.8
131.3
119.5
113.4
117.8
116.4
117.7
118.2
119.0
120.2
121.0
113.8
113.4
118.8
117.8
117.3
116.4
118.4
117.7
119.4
118.2
120.1
119.1
121.2
120.2
122.0
121.0
1. Consists largely of receipts by U.S. residents of interest and dividends and reinvested earnings of foreign
affiliates of U.S. corporations.
2. Consists largely of payments to foreign residents of interest and dividends and reinvested earnings of U.S.
affiliates of foreign corporations.
I
Gross domestic product
Business
Nonfarm
Nonfarm less housing
Housing
Farm
Statistical discrepancy
Households and institutions
Private households
Nonprofit institutions
General government
Federal
State and local
Addendum:
Gross domestic business product
less housing
1992
1991
II
III
IV
I
II
113.2
117.8
116.5
117.5
118.2
118.9
119.8
120.6
112.8
112.6
112.4
115.2
120.5
112.8
117.1
117.1
116.8
119.8
114.0
117.1
115.9
115.9
115.7
118.1
112.8
115.9
116.8
116.7
116.5
119.1
121.3
116.8
117.5
117.5
1.17.2
119.9
115.5
117.5
118.0
118.2
117.8
122.0
106.9
118.0
118.8
118.9
118.6
122.2
110.8
118.8
119.5
119.6
119.2
123.0
112.2
119.5
115.2
106.0
115.7
121.6
111.4
122.0
118.7
109.8
119.1
120.9
110.9
121.3
122.7 123.8
111.7 113.2
123.2 124.2
125.0
113.9
125.4
126.5
114.9
127.0
116.1
115.3
116.4
121.9
122.2
121.8
120.0
120.0
120.0
121.3
121.3
121.3
122.6
123.0
122.5
126.3
129.9
124.7
127.6
130.8
126.2
112.5
116.8
123.9
124.6
123.6
Table 7.15.—Current-Dollar Cost and Profit Per Unit of ConstantDollar Gross Domestic Product of Nonfinancial Corporate Business
[Dollars]
Current-dollar cost and profit
per unit of constant-dollar
gross domestic product ]
Consumption of fixed capital
Net domestic product
Indirect business tax and nontax liability plus business transfer payments less subsidies
Domestic income
Compensation of employees
Corporate profits with inventory
valuation and capital consumption adjustments
Profits tax liability
Profits after tax with inventory
valuation and capital consumption adjustments
Net interest
1.132
1.143
1.143
1.146
1.152
1.108
1.139
.120
.126
.988
1.013
1.005
.106
.882
.737
.115
.898
.759
.113
.892
.754
.114
.899
.760
.117
.900
.763
.117
.900
.761
.118
.903
.760
.118
.908
.761
0,91
034
OR1)
030
084
.029
.086
.030
OR4
.031
nafi
.030
093
.033
.099
.036
.057
054
.055
053
.055
.054
.056
053
.053
053
.056
052
.060
050
.063
.049
1?6
1.140
.127
1.013
1?7
1.016
1?6
1.017
1?5
1.021
.126
1.026
1. Equals the deflator for gross domestic product of nonfinancial corporate business with the decimal point
shifted two places to the left.
26 • August 1992
SURVEY OF CURRENT BUSINESS
Table 8.1.^-Percent Change From Preceding Period in Selected Series
[Percent]
Seasonally adjusted at annual rates
Seasonally adjusted at annual rates
1990
II
I
Gross domestic product:
Current dollars
Quantity indexes:
Fixed 1 987 weights
Chain-type annual weights
Benchmark-years weights .
Price indexes:
Fixed 1987 weights
Chain-type annual weights
Benchmark-years weights .
Personal consumption expenditures:
Current dollars
Quantity indexes:
Fixed 1987 weights
Chain-type annual weights
Benchmark-years weiohts
Price indexes:
Fixed 1987 weights
Chain-type annual weights
5.2
.8
2.8
-1.2
1.8
-3.0
1990
1992
1991
1991
5.2
4.0
2.8
6.2
4.1
1.7
1.2
.6
2.9
1.4
4.5
4.0
4.7
3.5
3.0
2.4
3.6
2.6
6.4
3.7
.4
5.4
4.4
3.0
8.4
3.1
1.2
-.6
2.0
1.5
-.3
5.1
-.2
5.3
4.4
-3.0
3.4
3.3
3.0
3.1
3.5
3.3
Rpnrhmflrk-vpflr^ wpinhtQ
Durable goods:
Current dollars
Quantity indexes:
Fixed 1987 weights
Chain-type annual weights ..
Price indexes:
Fixed 1987 weights
Chain-type annual weights
Nondurable goods:
Current dollars
Quantity indexes:
Fixed 1987 weights
Chain-type annual weights
Benchmark-years weights
Price indexes:
Fixed 1987 weights
Chain-type annual weights
1.1
-.3
-3.9
-5.6
1.7
2.4
6.5
2.2
.5
6.1
-1.3
3.6
-11.2
1.7
-13.0
7
10.9
8.1
2.9
3.6
-3.0
3.0
.4
-3.2
1.3
-.6
0
1.7
.7
3.3
-2.3
18.0
-3.1
16.5
1.1
.1
-3.0
1.8
3.6
-1.2
7.5
1.0
-3.5
5.5
2.4
1.8
-1.6
2.8
Services:
Current dollars
Quantity indexes:
Fixed 1987 weights
Chain-type annual weights
Benchmark-years weights
Price indexes:
Fixed 1987 weights
Chain-type annual weights
Benchmark-years weights
Gross private domestic investment:
Current dollars
Quantity indexes:
Fixed 1987 weights
Chain-type annual weights
Benchmark-years weights
Price indexes:
Fixed 1987 weights
Chain-type annual weights
Benchmark-years weights
Fixed investment:
Current dollars
Quantity indexes:
Fixed 1987 weights
Chain-type annual weights
Benchmark-years weights
Price indexes:
Fixed 1987 weights
Chain-type annual weights
Benchmark-years weights
Nonresidential:
Current dollars
Quantity indexes:
Fixed 1987 weights
Chain-type annual weights ....
Benchmark-years weights
Price indexes:
Fixed 1987 weights
Chain-type annual weights
Benchmark-vears weiahts
7.6
6.3
5.0
7.5
5.6
6.5
7.0
5.0
1.9
1.1
-.3
3.0
1.2
2.3
2.2
1.3
5.6
5.3
5.6
4.3
4.3
4.0
4.9
3.5
-3.9
-9.8
-17.0
2.7
13.3
1.8
17
30.4
-5.7
-10.6
-18.5
2.2
14.6
2.9
-4.6
28.8
-.7
-2.8
2.5
-7.8
-17.5
-8.5
-18.7
1.6
2.0
-1.0
-.8
1.0
.4
1.8
-3.1
6.4
13.7
-1.2
7.4
13.6
-.3
.1
1.5
1.7
-6.3
-14.2
-4.0
-5.3
-7.0
1.8
14.4
-.4
-7.0
-15.8
-3.1
-3.4
-5.2
3.0
15.3
2.4
1.9
2.6
.3
1.2
.4
5
1.1
Structures:
Current dollars
Quantity indexes:
Fixed 1987 weights
Chain-type annual weights
Benchmark-years weights .
Price indexes:
Fixed 1987 weights
Chain-type annual weights
Benchmark-years weights .
Producers' durable equipment:
Current dollars
Quantity indexes:
Fixed 1987 weights
Chain-type annual weights
Benchmark-years weights .
Price indexes:
Fixed 1987 weights
Chain-type annual weights
Benchmark-years' weights .
Residential:
Current dollars
Quantity indexes:
Fixed 1987 weights
Chain-type annual weights ....
Benchmark-years weights
Price indexes:
Fixed 1987 weights
Chain-type annual weights ....
Benchmark-years weights
Exports of goods and services:
Quantity indexes:
Fixed 1987 weights
1992
1991
1991
II
I
IV
III
I
II
III
IV
II
I
4.0
-10.4
-12.2
-9.7
-19.2
-12.8
.9
.8
-12.0
-14.0
-10.6
-20.8
-11.5
2.7
3.1
.5
-1.0
2.1
1.7
1.9
1.1
2.2
-1.6
-1.3
-2.6
-4.0
1.4
-4.1
-15.2
-.9
2.5
-4.2
2.1
23.3
-4.6
-16.7
.7
6.0
-2.4
3.2
24.4
-.1
.6
2.0
3.0
-6.6
-11.7
-26.3
8.1
18.3
-9.1
-12.6
-26.9
7.0
14.4
.7
.7
1.6
8.5
11.3
1.6
19.4
20.1
1.0
11.7
8.9
2.4
3.3
-2.1
-.7
15.6
5.5
14.4
3.4
16.6
6.2
13.3
2.9
-.9
.5
1.7
2.7
.9
9.6
7.4
-4.4
8.1
5.8
-5.0
1.7
2.1
2.3
-.3
6.5
-.9
OE ft
5.1
3.0
-.1 -14.6
15.6
3.7
1.0 -10.0
-7.9
-1.4
Price indexes:
R vpH 1QR7 wpinhtc
-.6
2.4
Chain-type annual weights
Benchmark-years weights
Imports of goods and services:
Quantity indexes:
Fixed 1987 weights
Chain-type annual weights
Benchmark-years weights
Price indexes:
Fixed 1987 weights
Chain-type annual weights
Benchmark-years weights
Government purchases:
Quantity indexes:
Fixed 1987 weiohts
Chain-tvoe annual weiohts
Benchmark-years weiohts
Price indexes:
Chain-type annual weiohts
Benchmark-years weiohts
Federal:
Current dollars
Quantity indexes:
Fixed 1987 weiohts
Chain-type annual weights
Benchmark-years weights
Price indexes:
Fixed 1987 weights
Chain-type annual weiohts
Benchmark-years weights
National defense:
Current dollars
Quantity indexes:
Fixed 1987 weights
Chain-type annual weights
Benchmark-years weights
Price indexes:
Fixed 1987 weights
Chain-type annual weights ....
Benchmark-vears weiahts
7.0
4.5
6.2
1.2
2.8
1.2
2.8
.2
4.2
3.5
3.8
1.8
12.4
6.2
4.9
2.0
1.2
7.2
.0
4.5
4.1
5.8
1.1
4.7
3.1
.7
-.2
8.7
4.5
3.9
4.5
11.9
-1.2
13.7
6.1
17.1
4.2
-.6
.9
-2.3
2.9
3.1
3.5
-2.9
4.8
4.8
2.3
1.7
-.6
3.0
3.0
2.7
-5.6
-6.5
-9.0
5.0
3.9
-3.0
6.0
-4.8
-8.7
-1.4
-5.6
-9.4
-13.0
-7.7
3.9
15.9
-1.1
-7.6
.4
17.6
-3.0
-2.4
3.5
-1.7
6.5
5.6
.4
-1.7
2.5
16
-3.7
2.8
SURVEY OF CURRENT BUSINESS
Table 8.1 .—Percent Change From Preceding Period in Selected
Series—Continued
[Percent]
August 1992 • 2J
Table 8.2.—Selected Per Capita Product and Income Series in
Current and Constant Dollars and Population of the United States
[Dollars]
Seasonally adjusted at annual rates
Seasonally adjusted at annual rates
1990
1991
I
Nondefense:
Current dollars
Quantity indexes:
Fixed 1987 weights
Chain-type annual weights ....
Benchmark-years weights
Price indexes:
Fixed 1987 weights
Chain-type annual weights
Benchmark-years weights
State and local:
Current dollars
Quantity indexes:
Fixed 1987 weights
Chain-type annual weights
Benchmark-years weights
Price indexes:
Fixed 1987 weights
Chain-type annual weights
Benchmark-years weights ....
Addenda:
Final sales of domestic product:
Current dollars
Quantity indexes:
Fixed 1987 weights
Chain-type annual weights .. ..
Benchmark-years weights
Price indexes:
Fixed 1987 weights
Chain-type annual weights
Benchmark-years weights
Gross domestic purchases:
Current dollars
Quantity indexes:
Fixed 1987 weights
Chain-type annual weights
Benchmark-years weights
Price indexes:
Fixed 1987 weights
Chain-type annual weights
Benchmark-years weights
Final sales to domestic purchasers:
Current dollars
Quantity indexes:
Fixed 1987 weights
Chain-type annual weights
Benchmark-years weights
Price indexes:
Fixed 1987 weights ...
..
Chain-type annual weights
Benchmark-years weights
Gross national product:
Current dollars
Quantity indexes:
Fixed 1987 weights
Chain-type annual weights
Benchmark-years weights
Price indexes:
Fixed 1987 weights
Chain-type annual weights
Benchmark-years weights
Command-basis gross national product:
Quantity index, fixed 1987 weights ...
Disposable personal income:
Current dollars
1987 dollars
II
1990
1992
1991
III
I
II
I
IV
II
1992
III
IV
I
II
Current dollars:
10.5
5.8
10.0
5.2
16.6
1.5
2.3
17.9
9.7
5.3
3.3
7.3
1.4
2.1
2.9
3.3
2.2
5.3
3.7
1.2
-.1
.6
.9
1.4
5.1
.1
3.1
2.3
2.3
2.5
.9
.8
3.4
4.3
3.4
3.9
5.7
3.1
1.3
-.8
4.5
4.0
4.9
1.9
.8
2.6
.3
7.5
5.4
4.3
2.3
4.8
4.6
2.8
18.7
3.2
4.5
.4
13.9
-1.8
3.8
2.2
-1.4
10.1
1.6
-3.2
4.7
2.4
2.2
8.0
2.3
1.3
-.5
0
4.7
-.4
3.6
2.9
2.4
3.6
2.8
-1.0
4.2
4.8
2.0
5.6
6.1
-4.2
1.7
2.4
-.4
3.0
3.3
2.5
2.9
2.5
3.1
2.9
-1.1
3.7
3.2
1.4
7.4
4.3
-4.3
1.3
.7
-.9
4.7
1.5
4.8
3.1
4.6
3.8
3.3
2.6
2.8
2.5
3.1
3.0
5.2
2.7
1.6
4.3
3.7
2.7
6.8
3.4
.8
1.0
.4
3.6
.8
3.5
3.0
2.4
3.6
2.6
1.7
1.3
.3
4.3
.5
5.3
1.9
3.7
.7
5.5
2.2
7.3
4.0
4.8
1.4
.9
4.5
.7
6.8
1.5
-1.2
4.0
-1.0
4.1
-.2
-3.2
4.7
-1.7
.8
-2.6
NOTE.—Except for disposable personal income, the quantity and price indexes in this table are calculated from
weighted averages of the detailed output and prices used to prepare each aggregate and component. The fixed
weighted measures use as weights the composition of output in 1987. For the alternative indexes, the chain-type
indexes with annual weights use weights for the preceding and current years, and the indexes with benchmarkyears weights use weights of 1959, 1963, 1967, 1972, 1977, 1982, and 1987 and the most recent year.
1991
1991
Gross domestic
product
Gross national
product
Personal income .
Disposable personal income ..
Personal consumption expenditures
Durable goods
Nondurable
goods
Services
Constant (1987)
dollars:
Gross domestic
product
Gross national
product
Disposable personal income ..
Personal consumption expenditures
Durable goods
Nondurable
goods
Services
Population (mid-period, thousands) ..
22,092
22,466
22,194
22,422
22,577
22,671
22,958
23,127
22,175
18,660
22,535
19,106
22,309
18,884
22,488
19,050
22,629
19,151
22,713
19,337
23,035
19,578
23,169
19,717
16,174
16,658
16,433
16,604
16,706
16,885
17,143
17,301
14,996
15,384
1,857
1,765
15,184
1,746
15,345
1,749
15,468
1,790
15,537
1,775
15,814
1,845
15,895
1,841
4,899
8,240
4,952
8,666
4,947
8,491
4,971
8,625
4,961
8,717
4,931
8,831
5,008
8,960
5,008
9,046
19,513
19,077
19,058
19,090
19,094
19,066
19,159
19,176
19,587
19,138
19,159
19,149
19,141
19,104
19,225
19,214
14,030
14,068
13,886
13,861
13,891
13,876
13,913
14,017
13,044
12,824
1,757
1,641
12,808
1,637
12,838
1,630
12,848
1,658
12,803
1,639
12,930
1,700
12,889
1,682
4,227
7,059
4,125
7,058
4,144
7,027
4,147
7,061
4,129
7,062
4,081
7,082
4,126
7,104
4,099
7,109
249,961
252,711 251,687
252,329 253,053 253,776 254,388 255,051
28 • August 1992
SURVEY OF CURRENT BUSINESS
Table 8.3.—Auto Output
Table 8.4.—Auto Output in Constant Dollars
[Billions of dollars]
[Billions of 1987 dollars]
Seasonally adjusted at annual rates
Seasonally adjusted at annual rates
1990
1991
1991
I
Auto output
Final sales
Personal consumption expenditures ..
New autos
Net purchases of used autos
Producers' durable equipment
New autos
Net purchases of used autos
Net exports
Exports
Imports
Government purchases
Change in business inventories of
new and used autos
New
Used
Addenda:
Domestic output of new autos2]
Sales of imported new autos
129.7
119.7
112.6
132.9 119.7 117.2
130.4 115.3 113.9
IV
I
II
118.8
125.0
122.3
125.1
134.1
119.8 120.9 120.8 129.9 129.3
112.0 117.7 117.5 124.4 121.3
79.5
35.8
36.6
59.8
78,0
35.8
35.0
56.1
78.5
33.5
36.8
60.2
-19.6
-35.4
-23.3
-33.9
-21.1
-34.1
-23.3
-30.6
10.5
45.9
11.7
45.6
.1.7
10.9
45.0
10.9
41.6
-3.2
-2.3
-.9
99.5
61.3
0
-.3
.4
94.7
56.2
1.7
2.3
-4.5
-2.9
-1.6
-1.0
-3.1
90.9
51.4
90.4
58.4
2.1
78.7
39.0
38.8
65.0
82.7
34.8
35.7
58.1
-26.3 -22.4
371 -33.8
13.3
50.4
11.7
45.5
1.6
1.3
4.1
3.9
.2
1.5
.7
.8
99.4
60.7
98.0
54.5
87.6
36.7
36.0
57.6
84.1
37.1
38.2
64.1
-21.6 -25.9
320 -31.8
12.4
44.4
1.5
-4.8
-3.1
-1.7
98.5
56.8
13.4
45.2
1.7
4.8
3.0
1.8
104.9
61.1
Auto output
Final sales
Personal consumption expenditures ..
New autos
Net purchases of used autos
Producers' durable equipment
New autos
Net purchases of used autos
Net exports
Exports
Imports
Government purchases
Change in business inventories of
new and used autos
New
Used
Addenda:
Domestic output of new autos ]
Sales of imported new autos2
1991
1991
1990
III
96.7
33.7
35.5
55.1
2.4
1992
II
121.7
109.3
125.8 109.2
125.0 107.6
II
III
104.8
110.7
112.2
72.1
36.3
31.3
51.8
-18.9 -22.3
-34.6 -32.2
9.9 10.6
-20.6
-31.9
44.5
2.2
-4.1
-3.3
8
93.3
58.1
42.8
1.5
.1
-.5
.6
86.4
51.4
IV
10.0
41.9
2.1
-5.0
-3.6
-1.4
83.7
47.5
71.8
32.9
32.5
55.0
39.5
120.5
114.6
110.1
79.2
35.8
31.2
52.0
75.2
34.9
33.1
57.3
-21.3 -20.8
31 7 -29.7
-24.2
-30.0
11.2
40.8
11.9
41.9
75.0
33.3
31.4
52.7
47.6
10.6
42.3
1.4
1.3
1.2
1.6
-.7
2.2
3.4
2.9
.5
.3
-.7
1.1
-6.6
-4.9
-1.7
88.0
49.4
87.1
51.3
84.2
53.4
II
117.7
115.0
71.6
37.3
34.2
59.1
-22.5 -25.0
296 -35.6
12.0
9.9
I
109.4 111.2
109.9 109.1 108.8 109.1
108.4 104.7 108.9 108.3
72.6
35.0
32.4
54.7
91.6
33.4
33.3
52.1
1992
I
89.9
55.2
1.3
1.5
5.9
4.1
1.7
94.8
54.6
1. Consists of final sales and change in business inventories of new autos assembled in the United States.
2. Consists of personal consumption expenditures, producers' durable equipment, and government purchases.
1. Consists of final sales and change in business inventories of new autos assembled in the United States.
2. Consists of personal consumption expenditures, producers' durable equipment, and government purchases.
Table 8.5.—Truck Output
Table 8.6.—Truck Output in Constant Dollars
[Billions of dollars]
[Billions of 1987 dollars]
Truck output ]
Final sales
Personal consumption expenditures ..
Producers' durable equipment
Net exports
Exports
Imports
Government purchases
Change in business inventories
1. Includes new trucks only.
72.4
73.5
67.9
57.9
69.1
71.6
72.9
78.0
81.6
39.4
33.1
69.4
36.2
30.9
66.1
33.4
29.3
69.9
34.8
29.6
70.3
38.1
30.9
71.1
38.6
33.8
71.1
37.9
34.0
84.3
43.1
37.8
-54
42
9.6
63
-38
54
9.2
60
-21
62
8.3
75
-42
54
9.6
55
-54
53
-65
46
-46
6.1
10.7
11.1
10.6
41
56
-1.0
-1.5
-.7
1.3
1.8
6.9
34
47
8.1
69
-8.2
80
-2.7
Truck output l
Final sales
Personal consumption expenditures ..
Producers' durable equipment
Net exports
Exports
Imports
Government purchases
Change in business inventories
1. Includes new trucks only.
67.0
68.0
60.4
52.1
62.0
63.4
64.1
68.1
70.0
36.4
30.6
61.7
32.0
27.7
59.5
29.9
26.5
62.6
30.9
26.8
62.5
33.8
29.8
-50
39
89
58
-33
48
82
54
-31
4.3
73
6.2
-1 9
62.3
33.5
27.6
-3.7
62.0
33.0
29.7
-5.7
72.3
36.9
32.4
-3.9
-1.0
-1.3
-7.4
56
75
68
4.9
85
4.9
-48
4.7
94
3.6
-.6
1.2
1.7
4.0
97
4.9
6.1
5.2
91
6.8
-2.3
SURVEY OF CURRENT BUSINESS
August 1992 •
NIPA Charts
Dec. Nov.
P
T
Nov. Mar.
P
T
Jan. July
July
P T
P
Billion 1987 $; seasonally adjusted annual rates
3,000
2,000
1,800
1,600
Personal consumption expenditures--
1,400
1,200
1,000
Gross c rivate domestic inves ment
Chande in business inventories
Net exports of goods and services—
Governn lent purclu ses—
1964 65
66 67
70
71 72
73
74 75
76 77
78 79
80 81
82 83
84 85
86 87
90
91 1992
SURVEY OF CURRENT BUSINESS
30 • August 1992
[guided.v'v'^' : '^f>v. v,r ••-' -.-•/.•, v -; .
Percent Change
10
REAL GROSS DOMESTIC PRODUCT1
llloi.lgi
.
GROSS DOMESTIC PURCHASES PRICE INDEX
(FIXED WEIGHTS)1
••«.
,li
-10
1989
1990
1992
1901
Percent Change
10
c OR POP ATE. PROFITS WITH \\/AANC CCAdr
REAL GROSS DOMESTIC PURCHASES1
111
-
I
I
- ; - '•:.".; 1001, ;,
REAL DISPOSABLE PERSONAL INCOME
1. Percent change atf annual mte from preceding q«^; fc
2. Seasonally afeed annual rate: JVA is inventory va«ftj
U.S. Department o!Commere% Bureau of Econo^ Analysis / f ; '
I
1992
SURVEY OF CURRENT
August 1992 •
BUSINESS
Reconciliation and Other Special Tables
Table 1.—Reconciliation of Changes in BEA-Derived Compensation Per Hour with BLS Average Hourly Earnings
[Percent change from preceding period]
Seasonally adjusted at annual
rates
1989
BEA-derived compensation per hour of all persons in the nonfarm business sector (less housing) ..
Less: Contribution of supplements to wages and salaries per hour
Plus' Contribution of wages and salaries per hour of persons in housing and in nonprofit institutions
1990
1991
1991
1992
III
IV
I
II'
2.6
5.4
4.7
3.7
3.1
3.8
2.7
.2
.1
.4
.2
.3
.4
.3
.2
-.1
0
.2
0
0
0
Less: Contribution of wages and salaries per hour of persons in government enterprises, unpaid family
workers and self-employed
0
.1
.1
.3
-.3
-.3
-.1
Equals: BEA-derived wages and salaries per hour of all employees in the private nonlarm sector ....
2.4
5.2
4.1
3.4
3.0
3.8
2.7
.5
-.1
-.1
-.1
-.2
-.4
0
1.8
1.3
.9
1.0
1.0
.9
Less' Contribution of wages and salaries per hour of nonproduction workers in manufacturing
Less' Other differences l
-1.9
Equals: BLS average hourly earnings of production or nonsupervisory workers on private nonfarm
payrolls
... .
...
...
3.9
3.5
2.9
2.6
2.2
3.1
1.8
Addendum:
BLS estimates of compensation oer hour in the nonfarm business sector2
3.2
5.4
4.7
3.7
3.1
3.9
2.7
p Preliminary.
1. Includes BEA use of non-BLS data and differences in detailed weighting. Annual estimates
also include differences in BEA and BLS benchmarking procedures; quarterly estimates also inelude differences in seasonal adjustment procedures.
2. These estimates differ from the BEA-derived estimates (first line) because the BLS estimates
include compensation and hours of tenant-occupied housing. The large difference in 1989 primarily
reflects a BLS adjustment to make the 1988 compensation data, which cover 53 Fridays (the
most frequent pay day), consistent with the hours data, which are based on a constant 52-week
year.
,
NOTE.—The table incorporates revised BEA estimates released in July 1992 and revised BLS
estimates released in August 1992.
BLS Bureau of Labor Statistics
SURVEY OF CURRENT BUSINESS
August 1992
Federal Personal Income Tax
Liabilities and Payments:
Revised and Updated Estimates, 1959-91
By Thae S. Park
HIS ARTICLE presents estimates of Federal
± personal income tax liabilities and payments
for 1959-91 (table i). The estimates of liabilities
and payments have been revised for 1959-88 and
extended to 1991. They incorporate the results
of the comprehensive revision of the national income and product accounts (NIPA'S) released in
December 1991, revised estimates of the NIPA'S for
1989-91 released in July 1992, and recently available data from the following Internal Revenue
Service (IRS) sources: Statistics of Income, Individual Income Tax Returns (soi), Annual Reports
for 1988-90, and unpublished information on individual income tax collections for liability year
1991.
This article first presents an overview of the tax
liabilities and payments measures and the reasons
why they differ. It then discusses the differences
for 1986-91 and the sources of revision to the
estimates for 1959-88.
Overview
In the NIPA'S, personal income taxes are recorded
on a payment basis-—that is, at the time tax payments are made by or on behalf of persons.1 For
certain types of analysis, personal income taxes
recorded on a liability basis—that is, at the time
persons earn their income and incur their tax
liability—may be more appropriate.
The payment series, which appears in table 3.4
of the "National Income and Product Accounts
Tables,"2 consists of three parts: Withheld taxes;
declarations and final settlements, or "nonwithheld taxes"; and refunds. Withheld income taxes
are those withheld at the income source. Declarations are estimated taxes paid quarterly, largely
on income not subject to withholding, and final
settlements are additional taxes paid either at the
1. In the NIPA'S, persons consist of individuals, nonprofit institutions that
primarily serve individuals, private noninsured welfare funds, and private
trust funds.
2. These tables are published annually in the SURVEY OF CURRENT
BUSINESS; they appeared most recently in the July 1992 issue.
time of filing tax returns or as the result of audits.
Refunds, made when payments exceed liabilities,
occur at the time of filing tax returns.
The liability series is derived from soi estimates
of total income tax; BEA adjusts these estimates
to take account of earned income credits, fiduciary income tax, unrelated business income tax
of exempt organizations, and audit assessments.
When the soi estimates of total income tax are
not available, the liability series is derived from
unpublished information on individual income
tax collections.
For taxes withheld from wages and salaries,
differences between tax liabilities and payments
arise for several reasons. First, prior to February
1992, overwithholding was built into the withholding tables used by employers; withholding
was computed on the amount of total wages
less one personal exemption for each withholding allowance claimed. Second, the withholding
tables are constructed under the assumption that
taxpayers use the standard deduction in calculating their income tax liabilities; overwithholding
results when taxpayers who itemize their deductions do not request enough exemptions for
withholding purposes. Third, withholding is
based on the assumption that wages remain unchanged during the year; overwithholding results
when wages change from one pay period to another and are subject to different withholding
rates. Fourth, changes in withholding rates may
not always coincide with changes in liabilities;
tax law provisions usually are effective on January i, but corresponding changes in withholding
rates sometimes occur later. Fifth, at the option
of the employer, taxes withheld on income from
bonuses, commissions, overtime pay, sick pay,
and taxable fringe benefits may be based on a flat
20-percent rate.
For some types of taxable incomes, differences
arise because taxes withheld have no direct relationship to the corresponding liabilities. For
interest, dividends, and certain other types of
SURVEY OF CURRENT BUSINESS
August 1992 • 33
Table 1.—Federal Personal Income Tax Liabilities and Payments, 1959-91
[Billions of dollars, quarters seasonally adjusted annual rates]
Personal income taxes
Year and
quarter
1959
1960
1961
1962
1963
1964 .
1965
1966
1967
1968
1969
Liability basis '
..
Payment basis2
Addenda:
1.1
39.5
40.4
43.3
46.0
49.4
48.5
50.9
57.5
64.3
78.2
88.1
38.4
41.7
42.6
46.4
49.0
45.8
50.9
58.4
64.1
76.2
91.1
-3.0
85.2
86.9
95.2
88.5
-3.3
-1.3
.7
-.4
.4
2.7
0
9
.2
2.0
391.2
409.2
426.5
453.4
476.4
510.7
552.9
601.7
646.5
709.9
773.7
166.5
171.6
181.8
195.3
209.1
229.9
255.1
286.3
315.1
352.8
388.8
831.0
893.5
980.5
1,098.7
1,205.7
1 ,307.3
1,446.3
1,601.3
1,807.9
2,033.1
401.2
414.0
447.6
511.9
573.7
595.6
674.9
939.0
1,062.2
1,157.2
1,280.0
1,410.9
1,473.3
1,544.9
1,701.4
1 ,820.7
1,947.0
1,850.6
2,070.0
2,173.3
1970
1971
1972
1973
1974
1975
1976
1977
1978
1979
109.9
125.5
117.6
143.2
161.7
190.7
216.8
85.3102.3
109.1
126.0
120.4
140.8
161.8
188.4
224.0
1980
1981
1982
1983
1984
1985
1986 .
1987
1988
1989
253.3
288.0
289.9
279.9
308.8
334.0
375.0
377.6
418.5
437.0
249.5
290.1
295.0
286.3
301.5
335.8
349.9
392.5
401.3
451.7
-14.7
2,265.4
2,534.7
2,690.9
2,862.5
3,154.6
3,379.8
3,590.4
3,802.0
4,075.9
4,380.3
1990 .
1991
454.3
447.6
470.1
461.4
-15.8
-13.8
4,664.2
4,828.3
2,280.9
1959; I
II
Ill
IV
37.8
39.8
39.8
40.8
37.1
38.2
38.6
39.6
382.4
390.9
392.9
398.5
161.3
167.2
167.4
170.2
1960: 1
II
III
IV
39.8
40.6
40.8
40.5
41.1
41.7
42.2
42.0
-1.3
-1.1
-1.4
-1.5
404.4
408.9
411.1
412.6
169.8
172.1
172.7
171.9
1961:1
II
Ill
IV
41.1
42.4
43.8
45.8
42.1
42.4
42.7
43.3
-1.0
0
1.1
2.5
416.3
422.2
429.4
438.2
175.4
179.0
183.3
189.5
1962' I
IV
44.1
45.8
46.5
47.4
44.4
45.8
47.1
48.2
-.3
0
-.6
-.8
443.7
451.3
456.5
462.1
189.6
194.7
197.1
199.8
1963: 1
II
Ill
IV
47.2
48.5
49.9
51.8
48.7
48.9
49.0
49.5
-1.5
466.8
471.8
478.6
488.1
202.5
206.6
210.8
216.5
1964: 1
||
III
IV
45.8
47.6
49.4
51.0
47.8
43.6
45.2
46.7
-2.0
497.0
505.7 "
515.4
524.6
220.8
226.9
233.2
238.6
1965: 1
II
III
IV
47.8
49.7
51.6
54.6
50.3
51.7
50.2
51.3
-2.5
-2.0
534.8
544.8
559.0
572.9
243.9
250.7
257.5
268.2
1QRR1 I
||
54.3
56.3
58.6
60.6
54.2
57.8
59.6
62.0
584.3
593.9
607.5
621.1
275.1
282.0
290.5
297.6
IV
61.5
62.9
65.4
67.6
62.6
62.4
64.9
66.6
.5
.5
1.0
631.1
638.6
652.3
664.0
305.1
310.1
318.8
326.4
1968: 1
II
Ill
IV
73.0
76.6
80.1
83.2
68.6
71.1
80.8
84.2
4.4
5.5
-.7
682.4
702.0
719.6
735.4
336.1
347.5
358.9
368.7
1969: 1
II
III
IV
82.7
86.3
90.3
93.1
90.1
92.7
90.2
91.3
-7.4
-6.4
747.4
764.9
783.8
798.7
371.7
383.2
395.8
404.6
1970: I
||
III
IV
83.3
84.0
86.3
87.2
90.2
91.0
86.0
86.8
-£.9
-7.0
.3
.4
808.1
827.9
839.0
849.0
394.7
397.1
404.9
407.9
1971:1
II
Ill
82.8
85.5
88.2
83.1
84.6
85.8
-.3
.9
2.4
866.3
887.8
901.3
400.2
409.4
418.3
.III ZZI
III
IV
1QR7- I
II
Ill
1.6
-7.1
.8
-.5
-2.8
2.4
-.1
2.3
-7.2
3.8
-2.1
-5.1
-6.4
7.3
-1.8
25.1
-14.9
17.2
.7
1.6
1.2
1.2
-.4
.9
2.3
4.0
4.2
4.3
1.4
3.3
.1
-1.5
-1.0
-1.4
-1.1
-1.0
.1
1.8
1. This series is derived by the Bureau of Economic Analysis based on data from the following Internal Revenue
Service sources: Statistics of Income, Individual Income Tax Returns (SOI), Annual Reports for 1959-90, and
unpublished information on individual income tax collections for liability year 1991.
2. This series appears in table 3.4 of the "National Income and Product Accounts Tables," most recently in the
Addenda:
Personal income taxes
Excess of liability
basis over pay- Personal income3 Taxable income4
ment basis
Year and
quarter
Liability basis »
Payment basis 2
IV
91.1
87.7
1972' I
II
Ill
IV
88.9
92.0
96.7
99.8
Excess of liability
basis over pay- Personal income3 Taxable income4
ment basis
3.4
-10.9
-10.0
918.7
428.1
945.0
959.7
987.3
1,029.9
426.5
436.7
452.6
474.8
1,053.7
1,078.6
1,108.5
1,153.9
486.2
500.3
518.0
543.1
1,165.5
1,185.6
1,223.9
1,247.7
555.5
563.2
582.6
593.3
1,255.1
1,284.7
1,324.8
1,364.5
572.8
581.0
602.9
625.9
103.3
102.0
102.6
104.8
Ill
IV
102.1
106.4
111.7
119.3
104.0
106.4
110.5
115.5
1974: I
II
Ill
IV
119.9
122.3
128.2
131.5
119.0
124.3
129.2
131.5
-2.0
-1.0
1975' I
II
Ill
IV
111.6
112.3
119.9
126.4
131.9
-20.3
94.3
125.3
130.0
18.0
-5.4
-3.6
1976: I
II
Ill
IV
135.6
140.6
145.3
151.5
132.3
138.0
143.8
149.3
3.3
2.6
1.5
2.2
1,400.7
1,426.4
1 ,460.5
1,497.6
649.2
665.8
681.9
702.6
1977: I
||
III
IV
150.4
157.8
165.7
172.7
154.5
160.2
161.9
170.4
-4.1
-2.4
3.8
2.3
1,534.6
1,575.0
1,626.8
1,668.8
892.4
923.2
955.6
984.6
1978' I
II
Ill
IV
174.0
186.9
195.7
206.1
172.6
182.2
194.6
204.3
1.4
4.7
1.1
1.8
1,712.3
1,783.6
1,838.8
1,896.8
996.2
1 ,047.2
1,082.1
1,123.3
1979' I
II
Ill
IV
200.8
209.9
222.0
234.5
210.7
219.1
228.6
237.7
1,947.9
1 ,995.1
2,063.8
2,125.7
1,105.5
.1,134.9
1,174.1
1,214.5
1980' I
II
Ill
IV
241.6
242.3
253.4
275.7
237.1
243.0
251.7
266.1
2,190.5
2,206.0
2,281.9
2,383.2
1,242.1
1 ,244.2
1 ,280.5
1,353.1
1981' I
II
Ill
IV
274.6
282.6
294.5
300.5
277.3
287.9
300.3
294.8
-2.7
-5.3
-5.8
5.7
2,453.9
2,497.5
2,580.2
2,607.1
1 ,364.8
1 ,392.2
1 ,433.0
1,453.5
1982: I
II
Ill
IV
282.2
288.6
292.2
296.6
294.6
301.1
289.2
295.3
-12.4
-12.5
3.0
1.3
2,626.7
2,679.9
2,710.4
2,746.8
1 ,438.2
1,467.3
1,483.9
1,504.0
1983: I
||
III
IV
270.7
276.3
277.9
294.7
289.0
294.8
276.9
284.5
-18.3
-18.5
1.0
2,772.2
2,832.7
2,879.4
2,965.8
1,497.1
1,526.2
1,534.4
1,621.8
1984: I
II
Ill
IV
293.7
305.0
315.5
321.0
287.7
294.4
306.8
317.1
3,062.1
3,121.7
3,192.1
3,242.5
1,642.0
1,686.4
1,727.7
1 ,749.4
1985:1
||
III
IV
322.4
329.8
336.5
347.3
351.9
306.9
339.6
345.0
-29.5
3,313.0
3,358.0
3,391.3
3,456.7
1,775.5
1 ,804.6
1,830.4
1,872.5
1986' I
II
Ill
IV
365.4
373.1
377.7
384.1
340.7
343.6
351.4
364.0
24.7
29.5
26.3
20.1
3,521.4
3,580.7
3,612.0
3,647.8
1,911.2
1,939.7
1,956.7
1,980.5
1987: I
II
Ill
IV
361.5
367.7
379.1
401.9
358.3
410.7
393.9
407.2
3.2
-43.0
-14.8
3,715.8
3,759.5
3,814.2
3,918.5
1,792.2
1,814.7
1,856.4
1,939.1
1988' I
II
Ill
IV
402.9
413.3
422.4
435.3
389.4
404.9
400.4
410.8
3,967.7
4,037.9
4,102.9
4,195.2
2,012.8
2,051 .2
2,084.3
2,131.6
1989: 1
II
Ill
IV
424.0
432.2
439.5
452.2
440.0
456.7
450.7
459.4
-16.0
-24.5
-11.2
4,305.2
4,357.4
4,389.2
4,469.4
2,125.7
2,155.6
2,182.5
2,229.5
1990: I
II
Ill
IV
440.9
454.0
459.3
462.9
463.3
471.4
474.6
471.0
-22.4
-17.4
-15.3
4,571.7
4,640.5
4,692.6
4.751.9
2,231.1
2,279.9
2.299.5
2,313.2
1991: I
II
Ill
IV
434.4
447.3
452.5
456.1
462.9
461.6
460.6
460.5
-28.5
-14.3
1973: 1
,
-5.9
-1.5
-1.9
0
1.2
3.8
.9
0
-9.9
-9.2
-6.6
-3.2
4.5
-.7
1.7
9.6
10.2
6.0
10.6
8.7
3.9
22.9
-3.1
2.3
-5.3
13.5
8.4
22.0
24.5
-7.2
-8.1
-8.1
-4.4
4,752.8
4,806.9
4.846.2
4,907.2
July 1992 SURVEY OF CURRENT BUSINESS.
3. This series appears in table 2.1 of the "Selected NIPA Tables" in the SURVEY.
4. Annual totals appear in SOI. Quarterly estimates are derived by the Bureau of Economic Analysis.
SURVEY OF CURRENT BUSINESS
34 • August 1992
income, an arbitrary 20 percent is withheld if
the recipient fails to furnish an accurate taxpayer
identification number (this withholding was initiated in 1984 as a compliance measure). For
pensions and annuities, withholding is at the
option of the taxpayer.
For incomes not subject to withholding (primarily income from proprietorships, partnerships, and S corporations, from capital gains, and
from taxable social security benefits), differences
arise because the proportion of the current year's
liabilities that must be paid to avoid a penalty
is less than 100 percent and because the last installment of quarterly estimated taxes and any
final settlements are made in the year after the
liabilities were incurred. As a result, payments
of nonwithheld taxes during a tax year do not
always reflect that year's income. Thus, when incomes not subject to withholding are increasing,
payments tend to lag liabilities.
Refunds arise from overpayment of taxes. Actual refunds are recorded in the payment series
as negative payments in the calendar quarter they
are made by the Treasury. Thus, refunds are
unrelated to the current year's liabilities.
Differences for 1986-91
For 1986, liabilities exceeded payments by $25.1
billion. This substantial difference reflected unusually large taxable capital gains declared that
year; these gains increased from $68.3 billion in
1985 to $132.8 billion in 1986, when the preferential tax treatment of long-term capital gains was
repealed by the Tax Reform Act of 1986 (TRA).
Under the TRA, capital gains are taxed at the same
rate as ordinary income, except that in 1987 the
top rate was limited to 28 percent. Under the
previous law, long-term capital gains were taxed
at only 40 percent of the ordinary income tax
rates, which put the top rate at 20 percent. Many
taxpayers, faced with the higher rates, accelerated realizations of capital gains into the fourth
quarter of 1986; as a result, liabilities increased
sharply for 1986, and payments increased sharply
for 1987. Because capital gains are not subject
to withholding, 1986 payments were affected little
by the accelerated realizations.
For 1987, payments exceeded liabilities by $14.9
billion. The excess reflected the final settlements
of the 1986 capital gains tax liabilities, which
increased payments, particularly in the second
quarter of 1987.
For 1988, liabilities exceeded payments by $17.2
billion. The excess partly reflected a large increase
in the incomes of partnerships and of S corporations, for which taxes are not withheld. The large
increase in these incomes—from $24.3 billion in
1987 to $57.1 billion in 1988—was affected by the
TRA'S phasing out of passive losses beginning in
1987.
For 1989-91, payments exceeded liabilities in
each year. In the absence of major changes
in tax law affecting personal income tax liabili-
Table 2.—Revisions in Annual Tax Liabilities and Payments, 1959-88
[Billions of dollars]
Liability basis
Year
Previously
published
Revised
Revision
1959
1960
1961
1962
1963
39.5
40.4
43.3
39.5
40.4
43.3
46.0
49.4
46.0
49.4
1964
1965
1966
1967
48.5
50.9
57.5
64.3
78.2
88.1
48.5
50.9
57.5
64.3
78.2
85.2
86.9
95.2
85.2
1978
1979
109.9
125.5
117.6
143.2
161.6
190.6
216.7
109.9
125.5
117.6
143.2
161.7
190.7
216.8
1980
1981
1982
1983
1984
1985
1986
1987
1988
253.3
288.0
289.9
279.9
308.8
334.0
375.0
379.4
421.3
253.3
288.0
289.9
279.9
308.8
334.0
375.0
377.6
418.5
1968
1969
1970
1971
1972
1973
1974
1975
1976
1977
Payment basis
Previously
published
88.1
86.9
95.2
Revised
Revision
0
0
0
0
0
0
0
0
0
0
0
38.5
41.8
42.7
76.5
91.5
45.8
50.9
58.4
64.1
76.2
91.1
0
0
0
0
0
0
0
88.8
85.7
88.5
85.3
102.7
109.5
126.4
120.8
141.5
162.5
189.5
225.2
251.1
291.7
296.5
288.1
303.7
339.3
353.5
397.2
405.7
46.5
49.2
46.0
51.1
58.6
64.4
.1
.1
.1
0
0
0
0
0
0
0
-1.8
-2.8
NOTE.—The annual estimates of the liability series for 1959-76 and 1980-86 are not revised;
however, the quarterly estimates of the liability series are revised for these periods.
Excess of liability basis over payment basis
Previously
published
38.4
41.7
42.6
46.4
49.0
-0.1
Revision
Revised
1.0
1.1
-.1
-.1
-.1
-.2
-.2
-.2
-.2
-.3
-.3
-.4
-1.4
-3.4
-3.0
-3.6
-3.3
102.3
109.1
126.0
120.4
140.8
161.8
188.4
224.0
-.3
—4
-A
-A
-A
-A
-.7
-.7
-1.1
-1.2
249.5
290.1
295.0
286.3
301.5
335.8
349.9
392.5
401.3
-1.6
-1.6
-1.5
-1.8
-2.2
-3.5
-3.6
-4.7
-4.4
.6
-.5
.2
2.5
-.2
-1.1
-.1
1.7
1.2
-7.5
.4
-.9
-3.2
1.7
-.9
1.1
-8.5
2.2
-3.7
-6.6
-8.2
5.1
-1.3
.7
-.4
.4
2.7
0
-.9
.2
2.0
1.6
-7.1
.8
-.5
-2.8
2.4
-.1
2.3
-7.2
3.8
-2.1
-5.1
-6.4
7.3
-5.3
21.5
-1.8
25.1
-17.8
-14.9
15.6
17.2
0.1
.1
.1
.1
.2
.2
.2
.2
.3
.3
.4
.3
.4
.4
.4
.4
.4
.7
.8
1.2
1.3
1.6
1.6
1.5
1.8
2.2
3.5
3.6
2.9
1.6
SURVEY OF CURRENT BUSINESS
ties, excess payments are expected because of the
overwithholding inherent in the withholding system. New withholding rates that went into effect
in February 1992 are expected to reduce excess
payments in the future.
Sources of revisions for 1959-88
Table 2 shows the revisions in the annual estimates of the liability and payment series for
1959-88. The annual estimates of liabilities
are revised for 1977-79 and for 1987-88 to reflect
revised IRS data; the quarterly liability estimates
are revised for all years to reflect the incorporation of revised data from the comprehensive
revision of the NIPA'S.S For payments, the
revisions for 1959-88 in both the annual and
quarterly estimates also reflect the incorporation
of the comprehensive NIPA revision. 0
3. The revision is described in "The Comprehensive Revision of the U.S.
National Income and Product Accounts: A Review of Revisions and Major
Statistical Changes," SURVEY 71 (December 1991): 24-42.
August 1992 • 35
A Comprehensive Reference on the U.S. Economy
BUSINESS STATISTICS, 1963-91
This handy, one-volume reference source on the U.S. economy contains historical data, sources, definitions, and methods of
compilation for over 2,000 data series, including . .
General economic activities, such as:
• Construction and real estate
• Consumer, producer, and farm prices
• Finance
• Foreign trade
• Industrial production
• Labor force, employment, and earnings
• Personal income and outlays
BUSINESS
STATISTICS
1963-91
And industries, such as:
• Chemicals
• Electric power and gas
• Food and tobacco
• Lumber
• Metals and machinery
• Petroleum and coal
• Pulp and paper
• Transportation equipment
This is the 27th edition of this popular biennial publication. It presents monthly data for 1988-91 and annual data for 1963-91 for
the approximately 1,900 series that appear each month in the blue pages of the Survey of Current Business. For key series, the
monthly data extend back to 1963.
Also included are quarterly and annual data for 1960-91 for selected series from the official national and international economic
accounts of the United States prepared by the Bureau of Economic Analysis. Over 25 years of data on the U.S. economy in one
place. Order your copy today!
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SURVEY OF CURRENT BUSINESS
August 1992
37
Fixed Reproducible Tangible Wealth in the United States, 1988-91
TABLES 1-20 PRESENT estimates of fixed reproducible tangible wealth in the United States for 1988-91. These estimates,
which cover the stock of privately owned and governmentowned durable equipment and structures and of durable goods
owned by consumers, incorporate the revised national income
and product accounts estimates for 1989-91 that appeared in
the July 1992 SURVEY OF CURRENT BUSINESS. Estimates of fixed
private capital are shown in tables 1-4; fixed nonresidential private capital, in tables 5-8; residential capital, in tables 9-12;
government-owned fixed capital, in tables 13-16; and durable
goods owned by consumers,? in tables 17-20. Estimates for the
wealth series for 1988 are unrevised from those that appeared in
the January 1992 SURVEY; that issue also contained, at the same
level of detail shown here, estimates of fixed private capital by
industry back to 1947 and of the other wealth series back to 1925.
Data availability
Annual estimates of gross and net stocks, depreciation, and
discards in historical-cost, constant-cost, and current-cost valuations for the types of wealth shown in tables 1-20 and for private
and government capital by type of equipment and structures,
together with the investment data used to derive the estimates,
are available on computer tape and on diskettes for the following
years: For fixed private capital by industry, 1947-91; for all other
estimates, 1925-91. For more information, write to the National
Income and Wealth Division (BE-54), Bureau of Economic Analysis, U.S. Department of Commerce, Washington, DC 20230, or
call (202) 523-0822.
In addition, later this year, BEA will publish Fixed Reproducible
Tangible Wealth in the United States, 1925-89. This publication
will present annual estimates of gross and net stocks, depreciation, discards, and average ages of gross and net stocks in
historical-cost, constant-cost, and current-cost valuations for the
types of wealth shown in tables 1-20 and for private and government capital by type of equipment and structures; it will'also
provide the investment series and service lives used to derive
the estimates and an updated statement of methodology. The
availability of this publication will be announced in the SURVEY.
NOTE.—John C. Musgrave prepared the wealth estimates.
Tables i through 20 follow.
SURVEY OF CURRENT BUSINESS
August 1992
Table 1.—Current-Cost Gross Stock of Fixed Private Capital,
Nonresidential and Residential, by Industry, 1988-91'
Table 2.—Current-Cost Net Stock of Fixed Private Capital, Nonresidential
and Residential, by Industry, 1988-91'
[Billions of dollars]
[Billions of dollars]
1988
Fixed private capital
1989
1990
1988
1991
15,077.9 16,022.3 16,893.8 17,489.0
Nonresidential
Agriculture, forestry, and fisheries
Farms
..
Agricultural services, forestry, and fisheries
Mining
Metal mining
Coal mining
Oil and gas extraction
Nonmetallic minerals, except fuels
Construction
Manufacturing
Durable goods
Lumber and wood products
Furniture and fixtures
.. .
Stone, clay, and glass products
Primary metal industries
Fabricated metal products
Industrial machinery and equipment .
Electronic and other electric equipment
Motor vehicles and equipment
Other transportation equipment . . . .
Instruments and related products
Miscellaneous manufacturing industries
Nondurable goods
Food and kindred products
Tobacco manufactures
Textile mill products
Apparel and other textile products
Paper and allied products
Printing and publishing
Chemicals and allied products
Petroleum and coal products
Rubber and miscellaneous plastics products
Leather and leather products
Transportation and public utilities
Trahsportation
Railroad transportation
Local and interurban passenger transit
Trucking and warehousing
Water transportation
Transportation by air
Pipelines, except natural gas
Transportation services
Communications
Telephone and telegraph
Radio and television
Electric, gas, and sanitary services
Electric services
Gas services
Sanitary services
Wholesale trade
Retail trade
Finance, insurance, and real estate
Depository institutions
Nlondepository institutions
Security and commodity brokers
Insurance carriers
Insurance agents brokers and service
Real estate
Holding and other investment offices . .
Services
Hotels and other lodging places
Personal services
Business services
Auto repair, services and parking
Miscellaneous repair services
Motion pictures
Amusement and recreation services
Other services
.
Health services
Legal services
Educational services
Other2
8,488.0
9,012.4
9,507.0
9,784.1
401.5
3608
410.3
3670
415.5
3677
413.4
361 6
40.6
43.3
47.8
51.8
525.0
530.4
535.6
41 1
41 2
535.9
41 2
485
489
493
Residential
Farms
Real estate
4094
25.9
4131
27.2
4173
28.2
403
484
4175
29.4
105.2
110.0
113.4
116.2
1,873.5
1,995.3
2,105.1
2,179.3
1 021.4
1 079.3
1,134.8
1,166.7
39.7
169
61 8
191 6
1135
1751
1449
1097
40.8
182
63.4
1991
1198
1863
155.9
1141
41.4
191
64.2
2055
1257
1969
168.6
119.7
836
671
905
727
960
786
17.5
18.4
19.1
852.2
916.1
180.8
970.2
190.4
1688
132
485
171
1200
138
504
178
1323
681
753
2350
2546
1185
1233
41.4
199
64.2
2071
1293
2038
176.0
122.2
1005
826
19.7
1,012.5
200.2
14.1
14.3
51 7
526
183
182
1442
1502
81 3
2708
2855
1275
860
1300
592
38
639
39
679
40
714
40
2,215.9
2,311.8
2,423.9
2,456.6
5966
2489
6090
2500
6174
6184
251 3
2475
122
1072
53.2
94.8
397
125
1067
54.1
101.8
107.3
41 2
40.6
40.7
42.4
570.5
5048
65.7
1,048.8
8151
189.3
128
1077
54.0
12.6
1084
55.9
107.5
44.2
41.7
44.8
593.4
5204
632.4
5486
625.3
537.1
73.1
83.8
88.1
1,109.4
8577
199.9
1,174.0
9072
208.6
1,213.0
931 2
217.6
44.5
51.8
58.3
64.2
354.1
379.4
405.5
419.1
528.4
565.1
610.8
646.2
1,738.5
1,905.5
2,044.2
2,132.9
333.3
376.7
83.9
11.9
96.1
96.2
12.6
413.1
106.8
441.1
113.2
13.0
12.8
124.5
134.3
111.2
58
5.9
6.0
5.9
1 181 4
1 2756
13529
1 3982
260
27.3
27.8
27.4
746.0
804.4
852.7
884.6
1165
1231
30.4
1289
32.0
1306
33.9
132.4
212.7
142.6
224.1
151.5
230.4
158.4
141
146
150
153
15.9
18.0
19.8
23.4
285
1948
384
401
2054
109.7
222.9
120.2
41 6
239.8
130.1
250.6
137.6
207
4.7
703
228
5.1
749
256
5.4
787
268
5.7
806
6,589.9
7,009.9
7,386.7
7,704.9
1598
1630
7,227 0
7541.9
151 4
64385
1558
6854.1
420
1. Estimates are as of the end of the year.
2. Consists of social services; museums, botanical, zoological gardens; membership organizations; engineering
and management services; and services, not elsewhere classified.
Fixed private capital
1990
1989
1991
9,108.3
9,650.3 10,130.0 10,411.6
Nonresidential
Agriculture, forestry, and fisheries
Farms
Agricultural services, forestry, and fisheries
Mining
Metal mining .
.
Coal mining
Oil and gas extraction
Nonmetallic minerals, except fuels
Construction
Manufacturing
Durable goods
Lumber and wood products ...
Furniture and fixtures
Stone, clay, and glass products
Primary metal industries
Fabricated metal products
Industrial machinery and equipment
Electronic and other electric equipment
Motor vehicles and equipment
Other transportation equipment
Instruments and related products
Miscellaneous manufacturing industries
Nondurable goods
Food and kindred products .
Tobacco manufactures .
Textile mill products
Apparel and other textile products
Paper and allied products
Printing and publishing
Chemicals and allied products
Petroleum and coal products
Rubber and miscellaneous plastics products
Leather and leather products
Transportation and public utilities
Transportation
Railroad transportation
Local and interurban passenger transit .
Trucking and warehousing
Water transportation
Transportation by air
Pipelines except natural gas
Transportation services
Communications
Telephone and telegraph
Radio and television
Electric gas and sanitary services
Electric services
Gas services
Sanitary services
Wholesale trade
Retail trade
Finance, insurance, and real estate
Depository institutions
Nondepository institutions
Security and commodity brokers
Insurance carriers
Insurance agents, brokers, and service
Real estate
Holding and other investment offices
Services
.. .
Hotels and other lodging places
Personal services . .
...
Business services
Auto repair, services, and parking
Miscellaneous repair services
Motion pictures
Amusement and recreation services
Other services
Health services
Legal services
Educational services
Other2
4,810.3
5,084.2
5,334.2
5,438.2
191.0
167.9
193.9
169.1
196.3
168.3
194.3
23.1
24.7
28.0
30.5
256.8
250.6
247.2
241.9
196
265
191
262
18.7
18.0
259
250
Residential
Farms
Real estate
4,298.0
4,566.1
4,795.9
643
664
685
700
42336
4,499 7
4,727.4
4,903.4
1977
12.9
57.7
191 8
13.6
60.4
1884
14.2
61.6
163.8
1840
14.9
61.7
1,022.9
1,088.3
1,148.5
557.5
585.5
613.1
20.2
20.8
21.3
11.0
30.1
94.7
66.1
21.1
11.4
29.9
94.5
66.9
111.9
102.4
114.2
105.5
61.7
56.8
10.1
63.0
58.8
49.0
10.4
535.3
103.8
558.7
109.4
98
106
29.1
29.8
897
612
923
101.6
106.9
63.7
89.4
95.3
565
500
408
9.2
585
540
439
9.7
465.3
91 5
502.8
83
238
93
665
405
84
248
97
743
454
1282
628
326
98.2
1404
471
8.3
255
99
820
493
1,183.3
624.7
8.0
25.9
98
843
51.8
150.7
161.2
65.6
38.1
66.1
40.1
19
640
357
2.0
2.0
2.0
1,204.6
1,248.0
1,299.3
1,305.0
2795
2837
1080
1085
2853
109.1
281 3
107.6
65
66
51 7
51 5
237
493
207
197
233
530
207
200
6.6
499
227
561
20.5
204
206
3385
282.1
3257
2783
3440
289.5
42.6
47.4
54.5
6106
4836
96.2
30.9
221.3
6386
5005
101.9
227
549
20.5
271 9
3145
6.3
48.7
6701
522.8
106.7
56.4
6852
528.7
112.2
36.3
40.6
44.3
233.6
246.0
249.6
3200
3422
370.4
390.7
1,1004
1,198.3
1,270.9
1,305.6
2438
264.3
278.2
524
79
595
81
64.5
66.4
69.6
79.6
88.1
2173
8.1
7.7
93.6
29
29
2.9
2.8
7330
7868
8257
8403
173
176
435.5
468.9
652
156
684
169
116.3
78.3
76
96
17.3
493.9
71 5
165
506.1
712
17.9
19.0
125.9
130.3
130.4
84.7
89.4
92.2
80
122
82
150
79
11 0
20.4
21.8
22.9
23.2
122.5
132.4
141.8
146.9
80.1
15.6
84.1
15.9
67.8
12.7
31
388
74.2
13.8
35
40.9
37
42.4
39
42.9
4,973.4
1. Estimates are as of the end of the year.
2. Consists of social services; museums, botanical, zoological gardens; membership organizations; engineering
and management services; and services, not elsewhere classified.
SURVEY OF CURRENT BUSINESS
August 1992 • 39
Table 3.—Constant-Cost Gross Stock of Fixed Private Capital,
Nonresidential and Residential, by Industry, 1988-91 '
Table 4.—Constant-Cost Net Stock of Fixed Private Capital,
Nonresidential and Residential, by Industry, 1988-91]
[Billions of 1987 dollars]
[Billions of 1987 dollars]
1988
Fixed private capital
1989
1991
1990
1988
14,503.6 14,886.3 15,244.5 15,521.8
Nonresidential
Agriculture, forestry, and fisheries
Farms
Agricultural services, forestry, and fisheries
Mining
Metal mining
Coal mining
Oil and gas extraction
Nonmetallic minerals, except fuels
Construction
Manufacturing
Durable goods
Lumber and wood products
Furniture and fixtures
Stone, clay, and glass products
Primary metal industries
Fabricated metal products
Industrial machinery and equipment
Electronic and other electric equipment
Motor vehicles and equipment
Other transportation equipment
Instruments and related products
Miscellaneous manufacturing industries
8,045.3
8,272.2
8,490.2
8,655.7
385.4
376.4
368.9
360.3
346.7
336.5
326.4
315.1
38.7
39.9
42.6
45.2
475.4
462.0
448.3
432.2
38.9
45.9
37.7
44.7
36.6
43.7
35.7
42.5
365.9
354.8
343.0
328.6
24.6
24.8
24.9
25.5
100.1
100.6
100.8
100.4
1,781.9
974.1
1,827.8
994.7
1,874.9
1,911.3
1,031.0
37.6
16.1
58.9
37.2
16.7
58.5
36.9
17.2
58.0
36.1
17.7
57.0
181.9
108.1
168.1
138.5
104.5
181.1
109.9
173.6
144.9
104.7
180.3
111.7
179.7
152.0
106.3
178.1
112.5
184.4
157.6
106.6
79.7
16.6
83.3
67.9
16.8
86.1
71.5
17.0
88.9
74.8
17.3
807.8
160.1
833.1
164.5
858.4
169.1
880.3
173.5
12.5
46.0
16.2
12.6
45.9
16.3
12.6
45.8
16.2
12.5
45.3
16.0
113.5
119.6
126.0
128.4
•64.1
Nondurable goods
Food and kindred products
Tobacco manufactures
Textile mill products
Apparel and other textile products
Paper and allied products
Printing and publishing
Chemicals and allied products
Petroleum and coal products
Rubber and miscellaneous plastics products
Leather and leather products
Transportation and public utilities
Transportation
Railroad transportation
Local and interurbah passenger transit
Trucking and warehousing
Water transportation
Transportation by air
Pipelines, except natural gas
Transportation services
Communications ...:...!
Telephone and telegraph
Radio and television
1,016.5
65.0
69.6
73.9
77.3
222.6
112.1
230.5
112.2
237.8
113.0
248.0
113.5
56.3
58.5
60.4
62.3
3.6
3.6
3.6
3.5
2,088.4
2,113.3
2,139.8
2,153.8
565.1
235.0
560.1
230.4
552.6
226.1
540.6
221.3
11.6
50.3
91.9
36.6
38.5
11.7
99.5
49.3
94.1
36.2
38.9
11.5
95.9
48.5
95.4
35.8
39.3
11.2
91.0
47.5
94.4
35.6
39.7
544.6
481.8
554.6
485.6
563.4
487.6
569.0
488.4
101.3
Fixed private capital
Agriculture, forestry, and fisheries
Construction
Manufacturing
Durable goods
Lumber and wood products
Furniture and fixtures
Stone, clay, and glass products
Primary metal industries
Fabricated metal products
Industrial machinery and equipment
Electronic and other electric equipment
Motor vehicles and equipment
Other transportation equipment
Instruments and related products
Miscellaneous manufacturing industries
Nondurable goods
Food and kindred products
Tobacco manufactures
Textile mill products
Apparel and other textile products
Paper and allied products
Printing and publishing
Chemicals and allied products
Petroleum and coal products
Rubber and miscellaneous plastics products
Leather and leather products
Services
Hotels and other lodging places
Personal services
Business services
Auto repair services and parking
Miscellaneous repair services
Motion pictures
Amusement and recreation services
Other services
Health services
Legal services
Educational services
Other2
748.7
776.8
797.7
110.3
112.8
115.9
116.4
27.3
28.4
29.6
30.9
188.4
127.1
197.7
134.4
203.1
139.6
204.9
143.3
13.4
15.3
36.5
13.5
16.8
37.1
13.5
18.3
37.5
13.6
21.9
37.7
196.5
104.9
208.0
111.5
219.4
117.6
229.0
123.5
19.9
21.6
24.1
25.4
4.4
.
.
.
Residential
Farms
Real estate
714.7
.....
67.2
4.7
70.1
4.9
72.7
5.2
74.9
6,458.2
6,614.0
6,754.3
6,866.1
148.5
6,309.7
147.3
6,466.7
146.4
6,607.9
144.6
6,721.5
1. Estimates are as of the end of the year.
2. Consists of social services; museums, botanical, zoological gardens; membership organizations; engineering
and management services; and services, not elsewhere classified.
16.6
23.1
16.0
22.0
177.0
165.1
155.4
145.4
12.3
12.4
12.5
12.9
54.9
55.3
54.9
53.4
973.4
532.0
998.7
540.3
19.2
9.3
19.1
9.7
27.6
84.1
58.5
99.6
885
53.7
49.7
1,025.1
550.3
19.0
10.0
27.4
83.2
58.8
1,041.2
553.8
18.5
10.2
26;8
8-1.4
58.3
102.1
103.4
92.2
54.9
50.9
94.3
55.2
52.1
390
8.7
41 0
8.9
428
9.0
441 4
4583
474.8
868
7.8
895
7.7
924
7.4
444
9.2
4874
952
7.1
22.6
22.6
22.7
22.4
8.8
63.0
387
121 5
8.9
67.3
420
1275
8.9
71.8
45.0
1328
8.7
72.3
467
1406
594
584
582
578
31.0
32.7
34.0
35.1
1.7
1,144.8
246.8
984
59
96.4
56
179
183
Communications
Telephone and telegraph
Radio and television
300.1
259.4
303.1
258.4
306.3
257.1
175
182
306.9
255.4
40.7
44.7
49.2
51.5
Electric, gas, and sanitary services
Electric services
Gas services
Sanitary services
569.7
451.1
574.9
450.1
585.2
454.8
591.1
454.6
89.1
29.5
91.0
33.8
93.1
37.3
96.1
40.4
1,928.9
403.5
102.5
27.0
17.5
24.0
184
185
1,854.4
379.3
26.9
18.6
25.1
190
187
1,762.5
351.5
26.5
196.3
41.0
19.5
48.6
1,657.8
320.7
25.4
207.6
44.8
20.4
50.1
Retail trade
5.6
1,119.6
219.0
47.6
21.4
49.3
Wholesale trade
134.0
5.8
1,243.6
26.7
232.9
48.8
22.4
47.7
389.2
121.3
5.7
1,212.2
25.0
62
581.8
107.7
5.6
1,169.6
22.8
62
374.2
12.4
142.8
21.9
2558
552.0
96.7
12.4
14&.6
261 6
100.2
523.0
89.4
12.1
169.6
155.0
264.9
102.0
357.8
80.9
11.6
93.8
174.5
160.8
Transportation
Railroad transportation
Local and interurban passenger transit
Trucking and warehousing
Water transportation
Transportation by air
Pipelines except natural gas
Transportation services
339.8
. ..
4,772.7
177.8
1.8
501.9
Depository institutions
Nondepository institutions
Security and commodity brokers
Insurance carriers
.
Insurance agents brokers and service
Real estate
Holding and other investment offices
4,672.9
182.7
1,147.2
Retail trade
Finance insurance, and real estate
4,561.9
1.8
Wholesale trade
58.7
9,257.9
1,139.5
48.3
53.6
9,157.1
1.8
42.5
80.5
8,980,3
1991
1,134.7
69.0
1,044.2
799.4
-186.1
1990
4,824.4
27.8
85.2
58.2
97.5
85.4
53.9
47.6
Transportation and public utilities
998.6
771.9
178.5
75.8
...
Metal mining
Coal mining
Oil and gas extraction
Nonmetallic minerals, except fuels
62.8
1,023.7
788.3
181.9
...
Mining
978.7
761.0
175.2
Electric gas and sanitary services
Electric services
Gas services
Sanitary services '
8,773.8
Nonresidential
Farms
Agricultural services forestry and fisheries
1989
Finance, insurance, and real estate
Depository institutions
Nondepository institutions
Security and commodity brokers
Insurance carriers
Insurance agents, brokers, and service
Real estate
Holding and other investment offices
231.7
352.3
1,049.4 1,108.4 1,152.1 1,178.7
227.9
209.2
242.6
253.6
Residential
Farms
Real estate
220.3
226.5
304.0
317.0
334.7
50.7
55.3
58.4
7.7
. . ..
67.7
2.8
694.5
168
Services
Hotels and other lodging places
Personal services
Business services
Auto repair services and parking
Miscellaneous repair services
Motion pictures
Amusement and recreation services
Other services
Health services
Legal services
Educational services
*
Other2
212.2
. ...
.
. .
7.8
7.6
76.5
.2.8
84.7
721.1
739.6
16.9
2.8
165
60.0
7.4
91.8
2.8
747.2
15.9
417.6
436.9
450.0
456.4
61.7
15.0
62.7
15.8
64.3
16.6
63.5
17.4
112.5
117.0
117.8
115.5
75.3
80.0
82.4
83.4
7.3
93
7.3
7.3
7.3
19.4
10.3
20.2
11.3
20.6
14.1
20.8
117.2
123.6
129.8
134.3
64.8
12.2
68.8
13.1
72.3
14.7
75.5
15.1
3.0
37.2
4,211.9
63.1
41488
3.2
38.4
4,307.5
62.8
4,244.7
3.4
39.4
4,384.5
62.8
4,321.7
3.5
40.1
4,433.5
62.0
4,371.5
1. Estimates are as of the end of the year.
2. Consists of social services; museums, botanical, zoological gardens; membership organizations; engineering
and management services; and services, not elsewhere classified.
SURVEY OF CURRENT BUSINESS
4O • August 1992
Table 5.—Current-Cost Gross Stock of Fixed Nonresidential Private Capital, by Major Industry Group and Legal Form of Organization, 1988-91
[Billions of dollars]
Total
Yearend
1988
1989
1990
1991
Equipment
8,488.0
9,012.4
9,507.0
9,784.1
4,009.9
4,256.9
4,542.9
4,674.4
Nonfarm
nonmanufacturing
Manufacturing
Farms
Equipment
and
structures
By legal form of organization
By major industry group
Corporate
Total
Structures
4,478.2
4,755.5
4,964.2
5,109.7
Equipment
and
structures
360.8
367.0
367.7
361.6
Equipment
157.1
157.9
•156.5
150.4
Structures
203.8
209.1
211.2
211.2
Equipment
and
structures
Equipment
1,873.5
1,995.3
2,105.1
2,179.3
1,114.6
1,184.8
1,251.3
1,295.2
Structures
759.0
810.5
853.7
884.1
Noncorporate
Nonfinancial
Equipment
and
structures
Equipment
Structures
Equipment
and
structures
Equipment
Structures
Equipment
and
structures
Equipment
Structures
Equipment
and
structures
6,253.7
6,650.1
7,034.2
7,243.2
2,738.2
2,914.3
3,135.0
3,228.8
3,515.4
3,735.8
3,899.2
4,014.4
6,422.2
6,818.1
7,206.7
7,427.2
3,317.0
3,518.8
3,761.4
3,872.8
3,105.2
3,299.3
3,445.3
3,554.4
5,895.9
6,220.6
6,548.9
6,725.6
2,990.3
3,143.1
3,345.2
3,427.8
2,905.6
3,077.5
3,203.8
3,297.8
2,065.8
2,194.3
2,300.3
2,356.9
Equipment
692.8
738.1
781.5
801.6
Structures
1,373.0
1,456.2
1,518.8
1,555.3
Table 6.—Current-Cost Net Stock of Fixed Nonresidential Private Capital, by Major Industry Group and Legal Form of Organization, 1988-91
[Billions of dollars]
Total
1988
1989
1990 .
1991
Nonfarm
nonmanufacturing
Manufacturing
Farms
Yearend
By legal form of organization
By major industry group
Corporate
Noncorporate
Nonfinancial
Total
Equipment
and
structures
Equipment
4,810.3
5,084.2
5,334.2
5,438.2
2,173.9
2,298.6
2,439.8
2,483.8
Structures
2,636.4
2,785.6
2,894.3
2,954.3
Equipment
and
structures
167.9
169.1
168.3
163.8
Equipment
63.3
64.4
64.8
62.7
Structures
104.6
104.7
103.5
101.1
Equipment
and
structures
1,022.9
1,088.3
1,148.5
1,183.3
Equipment
Structures
444.4
473.0
497.6
512.4
578.5
615.3
650.8
670.9
Equipment
and
structures
Equipment
Structures
Equipment
and
structures
3,619.6
3,826.7
4,017.4
4,091.0
1,532.2
1,618.8
1,724.2
1,750.3
2,087.4
2,208.0
2,293.2
2,340.8
3,630.8 1,803.1
3,834.1 1,901.9
4,030.2 2021 8
4,116.5 2,060.5
Equipment
Structures
Equipment
and
structures
Equipment
Structures
Equipment
and
structures
1,827.7
1,932.2
20084
2,056.0
3,283.1
3,442.9
36053
3,670.9
1,590.9
1,662.1
1,762.2
1,789.7
1,692.2
1,780.8
1,843.1
1,881.2
1,179.5
1,250.0
1,303.9
1,321.7
Equipment
Structures
808.6
853.4
885.9
898.3
370.9
396.6
418.0
423.3
Table 7.—Constant-Cost Gross Stock of Fixed Nonresidential Private Capital, by Major Industry Group and Legal Form of Organization, 1988-91
[Billions of 1987 dollars]
1988
1989
1990
1991
Nonfarm
nonmanufacturing
Manufacturing
Farms
Yearend
By legal form of organization
By major industry group
Total
Corporate
Noncorporate
Total
Equipment
and
structures
Equipment
8,045.3
8,272.2
8,490.2
8,655.7
3,854.6
3,978.9
4,092.6
4,178.8
Structures
4,190.8
4,293.3
4,397.6
4,476.9
Equipment
and
structures
346.7
336.5
326.4
315.1
Equipment
154.3
145.7
137.1
127.4
Structures
192.4
190.8
189.3
187.7
Equipment
and
structures
Equipment
1,781.9
1,827.8
1,874.9
1,911.3
1,065.2
1,088.1
1,109.8
1,125.4
Structures
716.7
739.7
765.1
785.9
Nonfinancial
Equipment
and
structures
Equipment
Structures
Equipment
and
structures
Equipment
Structures
Equipment
and
structures
Equipment
Structures
Equipment
and
structures
5,916.7
6,107.9
6,288.9
6,429.3
2,635.0
2,745.1
2,845.7
2,926.0
3,281.7
3,362.8
3,443.3
3,503.2
6,085.2
6,259.6
6,432.7
6,569.5
3,186.3
3,290.2
3,390.4
3,467.9
2,898.9
2,969.4
3,042.3
3,101.6
5,577.1
5,698.1
5,822.7
5,916.9
2,866.7
2,931.2
2,996.9
3,043.4
2,710.4
2,767.0
2,825.8
2,873.5
1,960.1
2,012.6
2,057.5
2,086.2
Equipment
668.2
688.7
702.2
710.9
Structures
1,291.9
1,323.9
1,355.3
1,375.3
Table 8.—Constant-Cost Net Stock of Fixed Nonresidential Private Capital, by Major Industry Group and Legal Form of Organization, 1988-91
[Billions of 1987 dollars]
By major industry group
Total
Yearend
1988
1989
1990
1991
Nonfarm
nonmanufacturing
Manufacturing
Farms
By legal form of organization
Corporate
Noncorporate
Total
Equipment
and
structures
Equipment
Structures
4,561.9
4,672.9
4,772.7
4,824.4
2,092.0
2,154.9
2,204.3
2,229.4
2,469.8
2,518.0
2,568.3
2,595.0
Equipment
and
structures
160.8
155.0
149.6
142.8
Equipment
62.0
59.4
56.8
52.9
Structures
Equipment
and
structures
98.8 973.4
95.5 998.7
92.7 1,025.1
89.9 1,041.2
Equipment
553.7
567.0
579.1
585.6
Structures
419.6
431.6
446.0
455.6
Equipment
and
structures
Equipment
Structures
3,427.8
3,519.3
3,598.0
3,640.3
1,476.3
1,528.5
1,568.4
1,590.8
1,951.5
1,990.8
2,029.6
2,049.5
.Nonfinancial
Equipment
and
structures
Equipment
Structures
Equipment
and
structures
Equipment
Structures
Equipment
and
structures
3,443.1
3,525.4
3,604.9
3,651.7
1,734.8
1,784.2
1,828.2
1,852.6
1,708.3
1,741.2
1,776.7
1,799.1
3,107.3
3,157.7
3,211.7
3,239.3
1,527.0
1,554.6
1,583.1
1,595.6
1,580.3
1,603.1
1,628.6
1,643.7
1,118.8
1,147.5
1,167.8
1,172.6
Equipment
357.3
370.7
376.2
376.8
Structures
761.5
776.7
791.6
795.9
SURVEY OF CURRENT BUSINESS
August 1992 • 41
Table 9.—Current-Cost Gross Stock of Residential Capital, by Type of Owner, Legal Form of Organization, and Tenure Group, 1988-91
[Billions of dollars]
By tenure group l
By type of owner and legal form of organization
Private
Yearend
Owner-occupied
Government
- Total
Tenant-occupied
Corporate
Total
Noncorporate
Total
1988
1989
1990
1991
....
6,748.9
7,177.9
7,563.0
7,889.1
6,589.9
7,009.9
7,386.7
7,704.9
Nonfinancial
87.9
91.8
94.8
97.1
87.9
91.8
94.8
97.1
6,501.9
6,918.1
7,292.0
7,607.9
Total
Federal
159.0
168.0
176.2
184.1
67.5
71.0
74.0
77.0
State and
local
91.5
97.0
102.2
107.1,
Farm
141.6
145.7
149.5
152.6
Nonfarm
Nonfarm
Farm
4,658.6
4,977.7
5,272.2
5,526.1
1,888.6
1,992.3
2,077.4
2,145.5
20.8
21.3
21.7
21.8
Table 10.—Current-Cost Net Stock of Residential Capital, by Type of Owner, Legal Form of Organization, and Tenure Group, 1988-91
[Billions of dollars]
By tenure group ]
By type of owner and legal form of organization
Private
Yearend
Owner-occupied
Government
Total
Tenant-occupied
Corporate
Total
Noncorporate
Total
1988
1989
......
1990
1991 .
.
4,405.1
4,678.5
4,912.8
5,094.9
4,298.0
4,566.1
4,795.9
4,973.4
Nonfinancial
50.3
52.3
53.7
54.6
50.3
52.3
53.7
54.6
4,247.6
4,513.8
4,742.2
4,918.8
Total
Federal
107.1
112.3
116.9
121.5
49.0
51.2
53.0
54.9
State and
local
58.1
61.1
63.9
66.5
Farm
60.7
62.7
64.7
66.1
Nonfarm
Nonfarm
Farm
3,156.5
3,370.3
3,560.1
3,710.9
1,162.6
1,219.6
1,261.5
1,291.1
7.4
7.5
7.7
7.8
Table 11.—Constant-Cost Gross Stock of Residential Capital, by Type of Owner, Legal Form of Organization, and Tenure Group, 1988-91
[Billions of 1987 dollars]
By tenure group ]
By type of owner and legal form of organization
Private
Yearend
Owner-occupied
Government
Total
Tenant-occupied
Corporate
Noncorporate
Total
Nonfinancial
Total
6,614.0
6,773.1
6,916.5
7,031.8
1988
1989
1990
1991
6,458.2
6,614.0
6,754.3
6,866.1
86.1
86.5
86.6
86.5
86.1
86.5
86.6
86.5
6,372.1
6,527.5
6,667.7
6,779.6
Total
Federal
155.7
159.0
162.2
165.7
66.1
67.6
68.9
70.4
State and
local
89.6
91.4
93.3
95.3
Farm
138.9
137.9
137.0
135.4
Nonfarm
Nonfarm
Farm
4,566.5
4,697.2
4,820.7
4,922.9
1,849.8
1,879.5
1,900.6
1,915.6
20.4
20.1
19.8
19.5
Table 12.—Constant-Cost Net Stock of Residential Capital, by Type of Owner, Legal Form of Organization, and Tenure Group, 1988-91
[Billions of 1987 dollars]
By tenure group ]
By type of owner and legal form of organization
' Private.
Yearend
Corporate
Noncorporate
Total
Total
1988
1989
1990
1991
4,316.8
4,413.0
4,491.4
4,542.3
4,211.9
4,307.5
4,384.5
4,433.5
49.3
49.3
49.1
48.6
Nonfinancial
49.3
49.3
49.1
48.6
4,162.6
4,258.2
4,335.4
4,384.9
Total
Federal
104.9
105.6
107.0
108.8
1. Excludes stocks of other nonfarm residential capital, which consists of dormitories, fraternity and sorority houses, nurses' homes, etc.
Owner-occupied
Government
Total
48.0
48.0
48.7
49.6
State and
local
56.9
57.6
58.3
59.2
Farm
59.6
59.3
59.3
58.6
Nonfarm
3,093.7
3,179.4
3,254.3
3,308.0
Tenant-occupied
Farm
Nonfarm
7.2
7.1
7.0
7.0
1,138.8
1,149.9
1,153.6
1,151.8
42 • August 1992
SURVEY OF CURRENT BUSINESS
Table 13.—Current-Cost Gross Stock of Government-Owned Fixed Capital, 1988-91
[Billions of dollars]
Total
State and local
Federal
Total
Excluding military
Excluding military
Total
Military
Yearend
Equipment and
structures
1988
1989
1990
1991
4,305.9
4,516.2
4,713.3
4,903.9
Equipment
814.2
873.0
948.9
1,017.9
Equipment and
structures
Structures
3,491.7
3,643.3
3,764.4
3,886.1
3,530.2
3,698.7
3,839.9
3,977.3
Equipment
284.6
306.4
330.0
356.2
Structures
3,245.5
3,392.4
3,509.9
3,621.1
Equipment and
structures
1,324.5
1,394.0
1,469.3
1,543.1
Equipment
624.3
665.8
721.4
768.7
Structures
Equipment and
structures
700.2
728.1
747.9
774.4
548.8
576.5
596.0
616.5
Equipment
Structures
454.0
477.2
493.4
509.4
94.8
99.2
102.5
107.1
Equipment and
structures
775.7
817.5
873.4
926.6
Equipment
529.5
566.6
618.9
661.6
Structures
246.2
250.9
254.5
264.9
Equipment and
structures
2,981.4
3,122.3
3,244.0
3,360.8
Equipment
Structures
189.9
207.2
227.5
249.1
2,791.5
2,915.1
3,016.5
3,111.7
Table 14.—Current-Cost Net Stock of Government-Owned Fixed Capital, 1988-91
[Billions of dollars]
Total
State and local
Federal
Total
Excluding military
Total
Excluding military
Military
Yearend
Equipment and
structures
1988
1989
1990 .
1991
2,541.8
2,664.7
2,775.3
2,877.3
Equipment
475.5
516.1
565.2
606.9
Equipment and
structures
Structures
2,066.2
2,148.6
2,210.1
2,270.4
2,118.2
2,213.5
2,290.5
2,363.2
Equipment
161.0
176.1
192.3
207.6
Structures
1,957.3
2,037.3
2,098.1
2,155.6
Equipment and
structures
745.8
789.3
833.4
872.8
Equipment
367.6 ,
396.4
432.0
460.3
Structures
Equipment and
structures
378.2
393.0
401.4
412.5
322.3
338.1
348.6
358.7
Equipment
Structures
269.2
281.7
289.4
297.7
53.0
56.4
59.1
61.0
Equipment and
structures
423.5
451.2
484.9
514.1
Equipment
314.6
339.9
372.9
399.3
Structures
109.0
111.3
112.0
114.8
Equipment and
structures
1,796.0
1.875.3
1,941.9
2,004.5
Equipment
107.9
119.7
133.2
146.6
Structures
1,688.1
1,755.6
1,808.7
1,857.9
Table 15.—Constant-Cost Gross Stock of Government-Owned Fixed Capital, 198&-91
[Billions of 1987 dollars]
Total ,
State and local
Federal
Excluding military
Total
Excluding military
Total
Military
Yearend
Equipment and
structures
1988
1989
1990
1991
4,114.9
4,204.4
4,307.1
4,403.3
Equipment
801.8
837.1
879.1
916.7
Equipment and
structures
Structures
3,348.4
3,418.4
3,494.5
3,572.2
3,313.1
3,367.3
3,428.0
3,486.6
Equipment
274.5
288.0
302.4
319.7
Structures
3,073.9
3,130.4
3,192.2
3,252.6
Equipment and
structures
1,292.6
1,319.1
1,351.2
1,378.6
Equipment
618.7
642.0
670.6
694.8
Structures
Equipment and
structures
673.9
677.1
680.7
683.8
526.1
533.1
538.7
547.6
Equipment
Structures
434.7
440.2
444.8
449.8
91.4
93.0
93.9
97.8
Equipment and
structures
766.5
786.0
812.5
831.1
Equipment
527.3
549.0
576.7
597.0
.Structures
239.3
236.9
235.8
234.0
Equipment and
structures
2,822.3
2,885.3
2,955.8
3,024.7
Equipment
183.1
195.1
208.5
221.9
Structures
2,639.2
2,690.2
2,747.3
2,802.8
Table 16.—Constant-Cost Net Stock of Government-Owned Fixed Capital, 1988-91
[Billions of 1987 dollars]
Military
Excluding military
Total
Excluding military
Total
State and local
Federal
Total
Yearend
Equipment and
structures
1988
1989
1990
1991
2,429.9
2,481.7
2,537.3
2,586.8
Equipment
469.8
496.8
525.3
548.7
Structures
1,960.1
1,984.9
2,012.0
2,038.1
Equipment and
structures
2,009.5
2,045.6
2,084.8
2,123.5
Equipment
155.3
165.8
176.5
186.7
Structures
1,854.2
1,879.8
1,908.3
1,936.7
Equipment and
structures
729.6
748.5
767.5
782.2
Equipment
365.7
384.1
403.2
418.2
Structures
363.9
364.4
364.4
364.0
Equipment and
structures
309.2
312.4
315.0
318.8
Equipment
51.2
53.1
54.4
56.2
Structures
258.0
259.4
260.6
262.6
Equipment and
structures
420.4
436.1
452.5
463.4
Equipment
314.5
331.0
348.8
362.0
Structures
105.9
105.1
103.8
101.4
Equipment and
structures
1,700.3
1,733.2
1,769.7
1,804.6
Equipment
104.1
112.7
122.1
130.5
Structures
1,596.3
1,620.5
1,647.7
1,674.1
SURVEY OF CURRENT BUSINESS
August 1992 • 43
Table 17.—Current-Cost Gross Stock of Durable Goods Owned by Consumers, by Type, 1988-91
[Billions of dollars]
Motor vehicles
Yearend
Furniture and household equipment
Total
Autos
1988
1989
1990
1991 .
l
3,581.7
3,822.7
4,044.5
4,306.0
Other
1,318.7
1,394.8
1,459.3
1,554.8
291.9
323.8
350.6
379.5
Furniture,
including
mattresses
and
bedsprings
404.4
411.0
425.9
443.0
Kitchen and
other
household
appliances 2
Other
China,
Other durable
glassware,
house
tableware, and
furnishings 3
utensils
Video and
audio
products,
computing
equipment,
and musical
instruments
Jewelry and
watches
286.4
312.9
339.5
357.7
250.8
280.2
296.8
308.8
259.4
281.2
309.0
348.8
219.4
227.1
236.1
235.7
143.2
150.4
157.6
172.2
Ophthalmic
products and
orthopedic
appliances
47.6
52.0
57.4
62.5
Books and
maps
Wheel goods,
sports and
photographic
equipment,
boats, and
pleasure
aircraft
242.4
260.5
271.9
291.1
117.5
128.8
140.4
152.0
Table 18.—Current-Cost Net Stock of Durable Goods Owned by Consumers, by Type, 1988-91
[Billions of dollars]
!
Motor vehicles
Yearend
Total
Autos
1988
1989
1990
1991
1,808.4
1,929.6
2,030.7
2,122.7
Other
560.5
588.5
610.1
628.6
Other
Furniture and household equipment
164.5
181.6
193.1
203.4
Furniture,
including
mattresses
and
bedsprings
219.2
223.7
231.1
238.2
Kitchen and
other
household
appliances 2
China,
Other durable
glassware,
house
tableware, and
furnishings 3
utensils
118.3
123.5
128.8
128.3
75.7
79.7
83.6
91.0
155.3
170.7
185.5
194.2
Video and
audio
products,
computing
equipment,
and musical
instruments
Jewelry and
watches
150.0
168.0
177.3
182.7
145.2
155.9
169.0
187.3
Ophthalmic
products and
orthopedic
appliances
25.6
27.8
30.6
33.1
Books and
maps
Wheel goods,
sports and
photographic
equipment,
boats, and
pleasure
aircraft
62.8
69.3
75.9
82.2
131.3
140.9
145.7
153.7
Books and
maps
Wheel goods,
sports and
photographic
equipment,
boats, and
pleasure
aircraft
Table 19.—Constant-Cost Gross Stock of Durable Goods Owned by Consumers, by Type, 1988-91
[Billions of 1987 dollars]
Motor vehicles
Yearend
Other
1,274.1
1,329.4
1,371.4
1,407.4
3,443.5
3,626.7
3,787.3
3,924.1
Other
Furniture and household equipment
Total
Autos
1988
1989
1990
1991
J
282.0
308.6
329.5
343.4
Furniture,
including
mattresses
and
bedsprings
384.8
398.2
409.2
417.5
Kitchen and
other
household
appliances2
China,
Other durable
glassware,
house
tableware, and
furnishings 3
utensils
Video and
audio
products,
computing
equipment,
and musical
instruments
Jewelry and
watches
278.3
292.7
307.0
319.4
253.5
285.1
318.8
353.3
233.3
243.9
252.7
258.7
138.8
143.7
148.5
152.4
213.5
223.1
232.9
241.8
Ophthalmic
products and
orthopedic
appliances
44.6
47.0
49.8
52.3
229.3
238.8
246.3
251.6
111.3
116.2
121.3
126.4
Table 20.—Constant-Cost Net Stock of Durable Goods Owned by Consumers, by Type, 1988-91
[Billions of 1987 dollars]
Motor vehicles l
Yearend
Total
^
1988
1989
1990
1991
1,738.4
1,830.8
1,903.1
1,940.0
Autos
541.5
560.9
573.3
569.0
Other
159.0
173.1
181.5
184.1
Furniture,
including
mattresses
and
bedsprings
208.6
216.8
222.0
224.5
Kitchen and
other
household
appliances2
China,
Other durable
glassware,
house
tableware, and
furnishings 3
utensils
Video and
audio
products,
computing
equipment,
and musical
instruments
Jewelry and
watches
150.9
159.7
167.7
173.4
151.7
170.9
190.4
209.0
130.6
135.2
138.1
138.9
115.1
121.3
127.1
131.6
1. Includes tires, tubes, accessories, and other parts.
2. Consists of refrigerators and freezers, cooking ranges, dishwashers, la undry equipment, stoves, air conditioners, sewing machines, vacuum cleaners, and other appliances.
3. Includes such house furnishings as floor coverings, comforters, quilts, blankets, pillows, picture frames, mirrors,
Other
Furniture and household equipment
73.4
76.1
78.8
80.5
Ophthalmic
products and
orthopedic
appliances
24.0
25.1
26.5
27.7
Books and
maps
Wheel goods,
sports and
photographic
equipment,
boats, and
pleasure
aircraft
59.5
62.5
65.6
68.3
124.2
129.1
132.0
132.9
art products, portable lamps, and clocks. Also includes writing equipment and hand, power, and garden tools.
SURVEY OF CURRENT BUSINESS
44
August 1992
The Comprehensive Revision of
State Personal Income
HIS ARTICLE describes the comprehensive
revision of the estimates of State personal
income and disposable personal income for 196991 and presents the revised estimates for 1986-91.
Tables i and 2 present 1986-91 estimates of total and per capita personal income and of total
and per capita disposable personal income, respectively. Table 3 presents detailed estimates of
personal income by major source and earnings by
industry for 1989-91. For the availability of the
revised estimates for 1969-85 and of estimates for
1986-91 that are more detailed than those presented here, see the box "Data Availability" on page
46.
Redefinition of Far West Region
A comprehensive revision of the State and local area estimates of personal income is made
approximately every 5 years to incorporate the
changes that result from the comprehensive revision of the national income and product accounts
(NIPA'S), new source data for States and local areas, and new estimating methods. In addition,
State and local area source data that are available
less frequently than biennially—for example, data
from a quinquennial census of agriculture or a
decennial census of population and housing—are
incorporated; however, the timing of the availability of such data sometimes makes it necessary
to revise the State and local area estimates independently of a comprehensive revision. (See the
box "Schedule for Revisions of State and Local
Area Personal Income" on page 45.)
Effective with the revised estimates presented in this
article, the Far West region is redefined. It now consists of Alaska, Hawaii, California, Nevada, Oregon,
and Washington. Previously, Alaska and Hawaii were
not included in any region.
The revised national estimates of personal income and disposable personal income presented
in this article incorporate the results of the comprehensive revision of the NIPA'S released in December 1991 and the annual NIPA revision released
T
Acknowledgments
The comprehensive revision of the State personal income estimates was prepared by the Regional Economic Measurement Division under the direction of Linnea Hazen, Chief. The preparation of the estimates was a divisionwide
effort.
Estimates of nonfarm labor income (wages and salaries and other labor income) were prepared by the Regional Wage
Branch under the supervision of Sharon C. Carnevale, Acting Chief. Major responsibilities were assigned to Michael
G. Pilot, John A. Rusinko, and James M. Scott. Contributing staff members were E. Frances Bake, Christopher T.
Berry, Elizabeth P. Cologer, Susan P. Den Herder, Elizabeth A. Freeman, Russell C. Lusher, Richard A. Lutyk, Paul
K. Medzerian, Lisa C. Ninomiya, Michael Phillips, Adrienne T. Pilot, William E. Reid, jr., Dolores A. Rynn, Victor A.
Sahadachny, Eugene L. Souder, and Jaime Zenzano.
Estimates of farm earnings (wages and salaries, other labor income, and proprietors' income), personal tax and nontax
payments, and the residence adjustments were prepared by the Quarterly Income Branch under the supervision of
Robert L. Brown, Assistant Division Chief. Major responsibilities were assigned to James M. Zavrel. Contributing staff
members were Elaine M. Briccetti, Daniel R. Corrin, Richard H. Grayson, Lela S. Lester, and Daniel Zabronsky.
Estimates of nonfarm proprietors' income, dividends, interest, rent, transfer payments, and personal contributions
for social insurance were prepared by the Proprietors' Income Branch under the supervision of Bruce Levine, Chief.
Major responsibilities were assigned to Charles A. Jolley. Contributing staff members were Catherine G. Cumberland,
Toan A. Ly, Michael S. Wagner, Ellen M. Wright, and Marianne A. Ziver.
The assembly of public use tabulations and data files and the preparation of the text and tables for this article
were performed by the Regional Economic Information System Branch. Major responsibilities were assigned to Kathy
A. Albetski, Wallace K. Bailey, and Gary V. Kennedy. Contributing staff members were H. Steven Dolan, Louise T.
Johnson, Susan J. Lease-Trevathan, Jeffrey L. Newman, Michael J. Paris, Albert Silverman, Callan S. Swenson, Hilda G.
Tolson, Monique B. Tyes, and Mary C. Williams.
SURVEY OF CURRENT BUSINESS
in July 1992.l However, the previously published
State estimates for 1988-90 had reflected most
of the statistical revisions for wage and salary
disbursements and for farm proprietors' income
that were introduced into the NIPA'S in the comprehensive NIPA revision. The net effect on the
State estimates of incorporating the other NIPA
revisions was to raise personal income for 1969,
1980-88, and 1991 and to lower it for the remaining years. Disposable personal income was
revised up for all years.
Definitional and statistical changes
In this section, the changes in the source data and
in the methods that were introduced for specific
components of personal income in the current
comprehensive revision are described. A detailed
description of the sources and methods used to
prepare the State personal income estimates is
presented in State Personal Income, 1929-87?
Most of the changes to the national estimates involved detailed estimation that cannot be
replicated at the State level; these changes were
implicitly incorporated into the State estimates
through the use of the national estimates of about
400 detailed subcomponents of personal income
1. The comprehensive NIPA revision is described in "The Comprehensive
Revision of the U.S. National Income and Product Accounts: A Review of
Revisions and Major Statistical Changes," SURVEY OF CURRENT BUSINESS 71
(December 1991): 24-40. The annual NIPA revision is described in "Annual
Revision of the U.S. National Income and Product Accounts," SURVEY 72
(July 1992): 6-45.
2. U.S. Department of Commerce, Bureau of Economic Analysis, State
Personal Income, 1929-87 (Washington, DC: U.S. Government Printing Office,
June 1989). This publication is out of print, but it is available in many
libraries.
Schedule for Revisions of State
and Local Area Personal Income
The comprehensive revision of the annual State estimates for 1969-91 that is described here is the first of
several stages of revisions of the State and local area
estimates. In October 1992, revised quarterly estimates
of State personal income for 1986-91 will be released.
In April and May of 1993, the following estimates will
be released: Revised county and metropolitan area estimates for 1969-91, further revisions of the 1969-91
annual and the 1986-91 quarterly State estimates, and
revised quarterly State estimates for 1969-85. In August 1^93, the comprehensive revision will be completed
with the release of the 1929-68 annual State estimates.
In addition, in April and May of 1994, the State and
local area estimates for 1981-91 will be further revised
in order to complete the incorporation of the data from
the 1990 Census of Population and to incorporate data
from the Internal Revenue Service on the income of
sole proprietorships and partnerships for 1987-89.
as the control totals to which the State estimates
are made to sum. The changes described in this
section are those made to the components for
which the changes were made with explicit Statelevel estimation, that is, other than by simply
using the revised national estimates as control
totals.
Wage and salary disbursements.—The estimates
of wages and salaries in two industries were improved by the use of source data that are more
current than the data used previously. For farm
labor contractors, the estimates for 1987-91 are
now based on data from the 1987 Census of Agriculture, and the estimates for 1983-86 are based
on an interpolation of the data from the 1982 and
1987 censuses. For religious membership organizations, the estimates for 1986-91 are now based
on payroll data from the Census Bureau series
County Business Patterns, and the estimates for
1981-85 are based on an interpolation between
the 1986 series and a 1980 employment series prepared by the Bureau of Labor Statistics, which
was the previous basis of the estimates.
The 1981-91 State estimates of the wages and
salaries for the military personnel in the Army,
Navy, Air Force, Marine Corps, and the Reserves
have been revised because the previous basis for
the estimates, a Defense Department report on
fiscal year payroll outlays, has proved to be unreliable. For the Army, Navy, Air Force, and
Marines, the new basis for the estimates is a
set of annual State pay approximations that are
derived from monthly State data on the number of personnel and from annual national data
on average pay from each branch of service;
the Air Force provides average base pay, and
the other services provide average base pay and
allowances. These data permit the calculation
of wages and salaries for each classification of
personnel—officers and enlisted personnel—of
the Army, Navy, and Marines and for each pay
grade of the Air Force. The annual average number of personnel by State in each classification
or pay grade is multiplied by the appropriate national average pay; for example, the number of
Army officers in each State is multiplied by the
national average pay of Army officers. The sum
of the products by service and by State form the
basis for the State estimates. For the Reserves,
the national estimates are allocated to States in
proportion to the number of personnel.
For the wages and salaries of the military
personnel in the Coast Guard, the State estimates for 1975-86 are now based on 1987 payroll
data. Previously, the State estimates for these
August 1992
•
45
46 • August 1992
SURVEY OF CURRENT BUSINESS
years were derived from the allocation of the national estimates in proportion to the number of
personnel.
Farm proprietors' income.—The national and
State estimates of farm proprietors' income are
based mainly on estimates of the income of all
farms from the U.S. Department of Agriculture
(USDA). The USDA estimates are adjusted for conformity with the definitions that are used by the
Bureau of Economic Analysis (BEA) for business
income. BEA estimates of the income of corporate farms are then subtracted from the adjusted
USDA estimates in order to derive the estimates
of farm proprietors' income.
The USDA estimates for 1983-90 have been extensively revised in order to incorporate data
from the 1987 Census of Agriculture, and the BEA
estimates have been revised accordingly. In addition, data from the 1987 Census of Agriculture
are noW used to prepare the State estimates of
the income of corporate farms.
Two definitional changes that affected the national estimates of farm proprietors' income—the
reclassification of bad debt losses and of Commodity Credit Corporation (ccc) loans as financial transactions—were extended to the State
level with explicit estimation. For the reclassification of bad debt losses, the BEA defaulters'
gain adjustment to the USDA State estimates was
simply discontinued. For the reclassification of
ccc loans, the national estimates of the adjustment for 1977-91 both for cash receipts and for
the value of inventory change by specific crop are
allocated to States in proportion to USDA administrative records data on the net ccc activity by
crop and by State. For 1969-76, the USDA data
by State are unavailable; therefore, the national
estimate of the adjustment for each crop is allo-
cated to States in proportion to the value of the
production of the crop.
Two statistical changes that affected the national estimates of farm proprietors' income for
1969-91—adjustments to the USDA estimates of
production expenses and of the gross rental
value of farm dwellings—were also extended to
States with explicit estimation. The national
adjustment to the USDA estimates of farm production expenses adds back the wages of the
owner/operators of farms organized as partnerships and Subchapter S corporations, which
were recently excluded from the USDA estimates; the adjustment is extended to States by
the addition of the amount that is excluded
from the USDA estimate for each State to that
State's estimate of production expenses. The
national adjustment to the USDA estimates of
the gross rental value of farm dwellings is allocated to States in proportion to the USDA
estimates.
Personal interest income.—The State estimates of
interest from State and local government bonds
for 1990-91 now reflect data on the number of
high-income households from the 1990 Census of
Population. The estimates for 1981-89 are now
derived from interpolations of the data from the
1990 census and comparable data from the 1980
Census of Population.
Rental income of persons.—The State estimates
of imputed rent (the net rental value of owneroccupied nonfarm dwellings) for 1990—91 are now
based on data on the number and value of owneroccupied houses, apartments, and mobile homes
from the 1990 Census of Housing. The estimates
for 1981-89 are now derived from interpolations
of the data from the 1990 census and comparable
data from the 1980 Census of Housing.
Data Availability
Detailed tabulations of the revised 1969-91 State personal income estimates are available on magnetic tape, printouts,
and diskettes. Estimates of total and per capita personal income and of total and per capita disposable personal income
are available along with detailed estimates of personal income by major source and of earnings by Standard Industrial
Classification (sic) two-digit industry.
Supplemental tables of the revised estimates for 1969-91 are available for wages and salaries by sic two-digit industry,
employment (either including or excluding self-employment) by sic two-digit industry, transfer payments by major
program, farm income and expenses (including broad categories of gross receipts and expenses of all farms and four
measures of net farm income), and personal tax and nontax payments by level of government and by type.
A magnetic tape containing a complete set of tables (that is, for the United States, regions, and States) for a series
costs $100. The tables in forms other than magnetic tape are priced by page or diskette; the cost of an order depends
on the number of series, areas, and years of data ordered. There is a minimum charge of $10.00 per order.
For further information or to place an order, call (202) 254-6630 or write to the Regional Economic Information
System, BE-55, Bureau of Economic Analysis, U.S. Department of Commerce, Washington, DC 20230.
SURVEY OF CURRENT BUSINESS
Transfer payments.—Two definitional changes
that affected the national estimates of transfer
payments—the reclassification of bad debt losses
as financial transactions and the reclassification
of the benefits paid by the Pension Benefit Guaranty Corporation (PBGC) from business transfer
payments to Federal transfer payments—were
extended to the State estimates by explicit estimation. For the reclassification of bad debt
losses, the transfer payment subcomponent for
consumer bad debts was simply discontinued.
For the reclassification of the PBGC benefits, the
scope of the subcomponent that consisted of all
business transfer payments except consumer bad
debts was reduced, and a new Federal transfer
payment subcomponent was established. The national estimates of this new subcomponent are
allocated to States in proportion to social security benefits, which are assumed to reflect the
geographic distribution of the retired population.
Previously, the national estimates of the subcomponent of transfer payments that included the
PBGC benefits had been allocated to States in
proportion to the civilian population.
Personal tax and nontax payments.—The national
estimates of these payments, which are subtracted
from personal income in order to derive disposable personal income, were substantially reduced
by the definitional change that classified government receipts for certain services—largely health
and hospital charges, tuition, and park and recreation charges—as government sales rather than as
personal nontax payments. For State government
nontax payments, this change was extended to
the State level largely by discontinuing subcomponents that included only reclassified charges.
For local government nontax payments, a new
State allocating series was prepared for the subcomponent that had previously included both the
reclassified charges and charges that continue to
be counted as nontax payments. The State estimates of local government nontax payments are
now based on data that exclude the reclassified
charges; these data are from the quinquennial
censuses of governments and from the Census
Bureau's annual Government Finances. The 198391 State estimates of the subcomponents o| local
government personal tax and nontax payments
that are based in part on the data from the censuses of governments now incorporate data from
the 1987 census.
Tables i through 3 follow. 0
August 1992 •
47
48 • August 1992
SURVEY OF CURRENT BUSINESS
Table 1.—Total and Per Capita Personal Income by State and Region, 1986-91
Per capita2
Total
Millions of dollars
State and region
1986
United States!
Avg. annual
growth(percent)
1987
1988
1989
1990
1991
Dollars
1986-91
1990-91
1986
1987
1988
1989
1990
1991
Percent of
national average
Rank
in
1986
1991
1991
U.S.
3,580,700
3,790,116
4,063,785
4,368,495
4,649,706
4,814,495
6.10
3.54
14,910
15,641
16,618
17,699
18,639
19,092
100
100
New England
Connecticut
Maine
Massachusetts
New Hampshire
Rhode Island
Vermont
222,134
63,065
15,453
104,306
17,499
14,535
7,275
241,290
68,699
16,884
112,807
19,380
15,624
7,897
263,888
75,211
18,419
123,425
21,235
16,993
8,605
281,470
80,155
19,974
131,202
22,578
18,143
9,419
292,836
83,978
21,099
135,566
23,337
18,878
9,976
298,642
85,642
21 ,548
137,924
24,038
19,291
10,198
6.10
6.31
6.88
1.98
1.98
2.13
1.74
3.00
2.18
2.22
17,307
19,560
13,205
17,669
17,070
14,870
13,621
18,628
21,153
14,251
19,004
18,380
15,786
14,614
20,165
22,983
15,298
20,637
19,612
17,052
15,650
21,353
24,412
16,372
21,811
20,441
18,131
16,888
22,148
25,525
17,137
22,520
20,998
18,786
17,666
22,629
26,022
17,454
23,003
21,760
19,207
17,997
116
131
89
119
114
100
91
119
136
91
120
114
101
94
Mideast
Delaware
District of Columbia
Maryland
New Jersey
New York
Pennsylvania
722,581
9,974
11,522
77,015
145,779
304,887
173,404
769,072
10,760
12,185
83,539
157,340
322,759
182,489
832,695
11,720
13,151
91,340
172,570
348,760
195,155
894,432
12,815
13,870
98,995
183,980
375,402
209,370
946,763
13,727
14,044
104,762
194,598
397,006
222,626
972,250
14,154
14,397
107,836
199,181
405,765
230,917
6.12
7.25
4.56
2.69
3.11
2.51
2.93
2.36
2.21
3.72
16,806
15,891
18,049
17,162
19,123
17,094
14,715
17,804
16,892
19,128
18,295
20,509
18,060
15,449
19,168
18,094
20,857
19,607
22,373
19,436
16,472
20,522
19,467
22,221
20,941
23,813
20,875
17,644
21,664
20,514
23,351
21,816
25,157
22,053
18,719
22,138
20,816
24,063
22,189
25,666
22,471
19,306
113
107
121
115
128
115
99
116 ........
109
126
116
5
134
2
4
118
101 16
Great Lakes
Illinois
Indiana
Michigan
Ohio
Wisconsin
610,907
181,772
73,165
137,851
151,111
67,009
640,076
190,910
77,143
143,558
157,897
70,568
681,913
204,043
82,103
152,945
168,185
74,639
730,188
219,522
88,141
163,173
178,997
80,355
771,215
232,735
93,259
170,385
189,139
85,698
793,684
239,293
96,365
174,750
194,384
88,891
5.65
5.66
4.86
5.17
5.81
2.91
2.82
3.33
2.56
2.77
3.73
14,735
15,961
13,413
15,100
14,081
14,089
15,388
16,757
14,093
15,623
14,672
14,768
16,342
17,911
14,948
16,590
15,572
15,475
17,438
19,240
15,957
17,634
16,529
16,546
18,329
20,338
16,792
18,293
17,418
17,468
18,713
20,731
17.179
18,655
17,770
17,939
99
107
90
101
94
94
98
109
90
98
93
94
Plains
Iowa
Kansas
Minnesota
Missouri
Nebraska
North Dakota
South Dakota
245,999
37,474
35,281
63,583
71,709
21,383
8,291
8,277
258,017
39,061
36,820
67,587
75,141
22,206
8,482
8,720
270,140
40,370
38,890
71,075
79,348
23,680
7,883
8,894
290,443
43,934
40,767
77,366
84,544
25,213
8,839
9,780
309,511
46,942
44,065
82,039
88,817
27,218
9,625
10,806
320,718
48,347
45,706
84,769
92.470
28,220
9,903
11,303
5.45
5.23
5.31
5.92
5.22
5.71
3.62
6.43
3.62
2.99
3.72
3.33
4.11
3.68
2.89
4.59
14,142
13,420
14,502
15,118
14,274
13,581
12,382
11,890
14,803
14,115
15,055
15,957
14,858
14,173
12,828
12,527
15,405
14,580
15,794
16,542
15,612
15,066
12,027
12,737 .
16,507
15,857
16,486
17,834
16,591
16,009
13,675
14,037
17,496
16,884
17,765
18,689
17,324
17,222
15,118
15,524
18,007
17,296
18,322
19,125
17,928
17,718
15,605
16,071
95
90
97
101
96
91
83
80
94
91- ""30
96
21
100
18
94
24
93
26
82
40
84
37
Southeast
Alabama
Arkansas
Florida
Georgia
Kentucky
Louisiana
Mississippi
North Carolina ..
South Carolina
Tennessee
Virginia
West Virginia
738,936
46,210
26,152
173,829
83,415
42,587
51,383
25,486
80,582
38,765
59,087
90,927
20,513
789,053
48,834
27,189
188,703
89,534
44,835
51,153
26,917
86,788
41,634
63,557
98,935
20,974
851,014
52,358
29,010
204,767
97,141
47,741
53,875
28,871
94,419
45,203
68,299
107,368
21,962
917,513
56,138
30,788
226,798
103,608
51,404
56,230
30,800
102,015
47,962
72,794
116,013
22,965
981,602
60,208
32,967
243,040
110,722
55,219
60,131
32,714
109,094
52,816
77,612
122,550
24,531
1,024,552
63,458
34,698
252,146
115,473
58,027
63,970
34,545
113,536
55,055
81,651
126,237
25,754
6.75
6.55
5.82
7.72
6.72
6.38
4.48
6.27
7.10
7.27
6.68
6.78
4.66
4.38
5.40
5.25
3.75
4.29
5.09
6.39
5.60
4.07
4.24
12,994
11,575
11,213
14,897
13,707
11,547
11,658
9,825
12,746
11,595
12,467
15,644
10,896
13,712
12,160
11,606
15,727
14,419
12,171
11,774
10,397
13,551
12,314
13,286
16,675
11,289
14,640
13,010
12,381
16,637
15,378
12,971
12,560
11,187
14,567
13,246
14,161
17,783
11,998
15,622
13,929
13,121
17,946
16,161
13,979
13,221
1 1 ,964
15,538
13,875
14,995
18,955
12,712
16,507
14,880
14,008
18.632
17,024
14,965
14,279
12,709
16,398
15,097
15,880
19,725
13,704
17,004
15.518
14,629
18,992
17,436
15,626
15,046
13,328
16,853
15,467
16,486
20,082
14,301
87
78
75
100
92
77
78
66
85
78
84
105
73
89
81
77
99
91
82
79
70
88
81
86
105
75
Southwest
Arizona
New Mexico
Oklahoma
Texas
333,918
46,065
17,107
40,820
229,927
341,812
49,724
17,838
40,701
233,549
360,127
52,787
18,804
42,475
246,061
384,096
56,214
20,005
44,990
262,888
411,222
59,472
21,352
47,620
282,777
433,100
62,166
22,665
49,340
298,928
5.34
6.18
5.79
3.86
5.39
5.32
4.53
6.15
3.61
5.71
13,581
13,922
11,694
12,548
13,882
13,810
14,465
12,063
12,677
14,049
14,484
14,930
12,615
13,410
14,761
15,313
15,519
13,302
14,281
15,642
16,189
16,155
14,052
15,139
16,580
16,773
16,579
14,644
15,541
17,230
91
93
78
84
93
88
87
77
81
90
97,442
50,471
11,480
9,873
19,020
6,598
100,390
51,921
11,986
10,144
19,978
6,361
104,927
54,368
12,652
10,299
21,052
6,555
112,893
58,125
14,053
11,306
22,503
6,906
120,625
61,942
15,271
11,709
24,269
7,434
127,646
65,365
15,935
12,673
25,890
7,783
5.55
5.31
6.78
5.12
6.36
3.36
5.82
5.53
4.35
8.23
6.68
4.69
13,532
15,588
11,592
12,132
11,437
13,311
13,930
15,922
12,167
12,599
11,903
13,335
14,566
16,663
12,834
12,869
12,460
14,092
15,606
17,744
14,131
14,139
13,192
15,065
16,536
18,758
15,099
14,649
14,034
16,439
17,124
19,358
15,333
15,675
14,625
16,937
91
105
78
81
77
89
90
101
80
82
77
89
608,783
9,938
463,601
16,099
15,415
36,279
67,450
650,406
9,545
497,331
17,208
16,799
38,314
71,209
699,082
9,879
534,476
18,609
18,705
41,192
76,221
757,459
10,859
575,569
20,562
21,370
45,163
83,936
815,932
11,447
616,668
22,882
24,083
48,917
91,936
843,904
12,015
633,326
24,045
25,398
51,353
97,766
6.75
3.87
6.44
8.35
3.43
4.97
2.70
5.09
5.46
4.98
6.34
16,534
18,256
17,104
15,305
15,718
13,518
15,146
17,277
17,696
17,902
16,112
16,413
14,183
15,711
18,135
18,224
18,774
17,231
17,397
15,024
16,425
19,160
19,845
19,699
18,785
18,788
16,184
17,684
20,090
20,764
20.586
20,552
19,677
17,098
18,727
20,429
21,067
20,847
21,190
19,783
17,575
19,484
111
122
115
103
105
91
102
107
110
109
111
104
92
102
17,307
16,757
14,735
14,142
14,352
11,548
13,115
13,590
16,557
18,628
17,737
15,388
14,803
15,209
12,217
13,294
14,053
17,301
20,165
19,104
16,342
15,405
16,233
13,057
14,032
14,673
18,157
21,353
20,459
17,438
16,507
17,323
13,949
14,870
15,594
19,171
22,148
21,638
18,329
17,496
18,167
14,855
15,823
16,439
20,103
22,629
22,125
18,713
18,007
18,563
15,487
16.463
16,948
20,450
116
112
99
95
96
77
88
91
111
119
116
98
94
97
81
86
89
107
Rocky Mountain
Colorado
Idaho
Montana
Utah
Wyoming
Far West
.
Alaska
California
Hawaii
Nevada
Oregon
Washington
...
5.75
6.56
5.83
6.99
6.96
6.44
5.88
5.90
5.37
10.50
7.20
7.71
5.20
3.01
4.99
1
28
3
6
17
22
........
32
20
25
23
""42
47
19
29
39
45
50
34
43
36
12
49
""35
46
41
31
""is
44
38
48
33
8
9
7
13
27
14
Census Divisions
New England
Middle Atlantic
East North Central
West North Central
South Atlantic
East South Central
West South Central
Mountain
Pacific
222,134
624,070
610,907
245,999
586,541
173,370
348,282
176,029
593,368
241,290
662,588
640,076
258,017
633,052
184,142
352,592
184,751
633,607
263,888
716,484
681,913
270,140
687,069
197,270
371,421
195,222
680,377
281,470
768,752
730,188
290,443
745,040
211,135
394,895
210.482
736,090
292,836
814,230
771,215
309,511
795,285
225,753
423,495
225,533
791,850
1. The personal income level shown for the United States is derived as the sum of the State estimates; it differs
from the national income and product accounts (NIPA) estimate of personal income because, by definition, it omits
the earnings of Federal employees and military personnel stationed abroad and of U.S. residents employed abroad
temporarily by private U.S. firms. It can also differ from the NIPA estimate because of different data sources and
revision schedules.
298.642
835,863
793,684
320,718
824,589
237,682
446,937
237,875
818,506
6.10
6.02
5.37
1.98
2.66
2.91
5.45
7.05
3.62
3.68
6.51
5.12
5.28
5.54
5.47
3.37
6.21
6.65
2. The computation of per capita personal income used midyear population estimates provided by the Bureau
of the Census. The 1986-89 population estimates have been adjusted to reflect both the 1980 and 1990 Census
of Population counts for April 1; the 1990 midyear (July 1) estimates reflect the 1990 Census of Population count
plus 3 months of estimated population change.
SURVEY OF CURRENT BUSINESS
August 1992 • 49
Table 2.—Total and Per Capita Disposable Personal Income by State and Region, 1986-91
Total
Per capita '
Avg. annual
growth(percent)
Millions of dollars
State and region
1986
United States
1987
1988
1989
1990
1991
Dollars
1986-91
1990-91
1986
1987
1988
1989
1990
1991
Percent of
national average
Rank
in
1986
1991
1991
3,122,832
3,278,835
3,537,201
3,776,431
4,029,762
4,197,184
6.09
4.15
13,003
13,531
14,465
15,300
16,154
16,644
100
100
188,409
52,522
13,492
87,968
15,366
12,815
6,246
204,975
57,830
14,656
94,989
17,205
13,448
6,846
226,777
63,912
16,187
105,459
18,990
14,684
7,544
241,455
68,048
17,562
112,029
20,172
15,441
8,203
252,004
71,379
18,630
115,845
21,005
16,416
8,729
258,178
72,861
19,151
118,514
21,804
16,872
8,975
6.50
6.77
7.26
6.14
7.25
5.66
7.52
2.45
2.08
2.80
2.30
3.81
2.78
2.82
14,680
16,290
11,529
14,901
14,989
13,110
11,693
15,825
17,806
12,371
16,002
16,317
13,588
12,669
17,329
19,530
13,444
17,633
17,539
14,735
13,721
18,317
20,725
14,396
18,623
18,263
15,431
14,708
19,059
21 ,696
15,132
19,244
18,899
16,336
15,457
19,563
22,139
15,512
19,766
19,738
16,799
15,840
113
125
89
115
115
101
90
118
133
93
119
119
101
95
Mideast
Delaware
District of Columbia ..
Maryland
New Jersey
New York
Pennsylvania
615,630
8,378
9,488
65,265
124,225
256,567
151,706
648,768
9,069
10,058
70,480
134,312
267,432
157,417
708,263
9,809
10,999
77,628
148,485
291,851
169,491
757,224
10,693
11,549
83,049
158,933
311,266
181,735
806,445
11,594
11,442
88,523
168,899
332,697
193,289
833,215
12,021
11,891
91,855
173,237
343,017
201,194
6.24
7.49
4.62
7.07
6.88
5.98
5.81
3.32
3.68
3.92
3.76
2.57
3.10
4.09
14,318
13,348
14,863
14,544
16,296
14,385
12,874
15,019
14,237
15,789
15,435
17,507
14,964
13,326
16,304
15,144
17,445
16,663
19,250
16,265
14,306
17,373
16,243
18,502
17,568
20,571
17,309
15,316
18,453
17,327
19,024
18,435
21,834
18,481
16,252
18,972
17,679
19.874
18,901
22,323
18,996
16,821
110
103
114
112
125
111
99
114
106
119
114
134
114
101
Great Lakes
Illinois
Indiana
Michigan
Ohio
Wisconsin
534,117
159,060
64,402
119,625
132,430
58,600
554,491
164,395
67,715
123,909
136,985
61,486
594,813
177,133
72,167
133,240
147,254
65,018
631,817
189,648
76,801
140,718
155,260
69,390
668,972
201,347
81,170
148,083
164,176
74,196
692,151
208,307
84,309
152,700
169,711
77,124
5.32
5.54
5.53
5.00
5.09
5.65
3.46
3.46
3.87
3.12
3.37
3.95
12,883
13,967
11,807
13,104
12,340
12,321
13,331
14,430
12,371
13,485
12,729
12,867
14,255
15,549
13,139
14,452
13,635
13,481
15,089
16,621
13,904
15,207
14,337
14,288
15,899
17,595
14,615
15,899
15,119
15,124
16,319
18,046
15,029
16,301
15,515
15,565
99
107
91
101
95
95
98
108
90
98
93
94
Plains .
Iowa
Kansas
Minnesota
Missouri
Nebraska .
North Dakota ...
South Dakota
216,361
33,037
30,618
55,278
63,178
19,073
7,552
7,625
224,767
34,146
31,947
57,523
65,912
19,699
7,662
7,879
236,664
35,515
34,102
61,036
69,779
21,053
7,061
8,117
252,021
38,165
35,134
65,994
73,590
22,423
7,846
8,870
269,150
40,950
38,175
69,829
77,741
24,002
8,681
9,772
280,543
42,304
39,737
72,664
81,715
24,917
8,926
10,281
5.33
5.07
5.35
5.62
5.28
5.49
3.40
6.16
4.23
3.31
4.09
4.06
5.11
3.81
2.82
5.21
12,438
11,831
12,585
13,144
12,576
12,113
11,279
10,953
12,895
12,339
13,062
13,581
13,033
12,573
11,587
11,318
13,496
12,827
13,849
14,205
13,729
13,395
10,774
11,624
14,323
13,775
14,208
15,213
14,441
14,238
12,139
12,732
15,215
14,729
15,391
15,908
15,164
15,188
13,636
14,038
15,752
15,134
15,930
16,394
15,843
15,644
14,065
14,618
96
91
97
101
97
93
87
84
95
91
96
98
95
94
85
88
Southeast
Alabama
Arkansas
Florida
Georgia
Kentucky
Louisiana
Mississippi
North Carolina
South Carolina
Tennessee
Virginia
.. . .
West Virainia
652,753
41,214
23,336
152,471
72,880
37,511
46,878
23,347
70,462
34,357
53,341
78,609
18,347
693,300
43,344
24,236
164,565
77,734
39,618
46,383
24,638
75,423
36,794
57,194
84,635
18,734
751,514
46,768
25,934
179,234
85,057
42,138
48,816
26,492
82,716
40,225
61,786
92,388
19,958
806,033
49,717
27,449
198,782
89,985
45,033
50,676
28,030
89,122
42,050
65,365
99,316
20,508
864,854
908,159
53,456
56,606
31,044
29,366
213,818
223,320
96,249 . 101,064
51,088
48,386
53,600
57,350
29,934
31,775
99,927
95,532
46,636
49,021
69,858
74,208
109,742
106,149
21,870
23,015
6.83
6.55
5.87
7.93
6.76
6.37
4.12
6.36
7.24
7.37
6.83
6.90
4.64
5.01
5.89
5.72
4.44
5.00
5.58
6.99
6.15
4.60
5.11
6.23
3.38
5.23
11,478
10,324
10,006
13,066
11,976
10,171
10,636
9,001
11,145
10,277
11,255
13,524
9,746
12,048
10,793
10,346
13,715
12,519
10,755
10,676
9,517
11,777
10,883
11,956
14,265
10,084
12,928
11,621
11,069
14,562
13,465
11,449
11,380
10,265
12,762
11,787
12,810
15,302
10,903
13,724
12,336
11,698
! 15,729
14,036
12,246
11,916
10,889
13,574
12,164
13,465
16,227
11,352
14,544
13,212
12,478
16,391
14,799
13,113
12,728
11,628
14,359
13,330
14,294
17,085
12,218
15,072
13,843
13,088
16,820
15,260
13,757
13,489
12,259
14,833
13,771
14.983
17,458
12,779
88
79
77
100
92
78
82
69
86
79
87
104
75
91
83
79
101
92
83
81
74
89
83
90
105
77
Southwest
Arizona
New Mexico
Oklahoma
Texas
297,186
40,498
15,327
36,393
204,968
302,550
43,312
15,881
36,139
207,218
319,831
46,421
16,686
37,899
218,826
340,422
49,191
17,890
39,832
233,509
362,631
52,388
18,988
41,877
249,379
383,667
54,817
20,194
43,402
265,254
5.24
6.24
5.80
4.64
5.67
3.59
5.29
6.35
3.64
6.37
12,087
12,240
10,477
11,187
12,375
12,224
12,600
10,740
11,256
12,465
12,864
13,129
11,194
11,965
13,127
13,572
13,581
11,895
12,644
13,894
14,276
14,230
12,496
13,313
14,622
14,858
14,619
13,047
13,671
15,289
93
94
81
86
95
89
88
78
82
92
Rocky Mountain
Colorado
Idaho
Montana
Utah
Wyoming
86,483
44,385
10,437
8,840
16,875
5,946
88,595
45,415
10,815
8,922
17,693
5,750
93,222
47,962
11,441,
9,155
18,762
5,901
98,885
50,496
12,615
9,848
19,820
6,106-
105,042
53,435
13,791
10,177
21,018
6,620
111,538
56,576
14,429
11,100
22,501
6,933
5.22
6.18
4.97
6.69
4.66
5.92
3.12
5.88
4.62
9.06
7.06
4.72
12,010
13,708
10,539
10,862
10,147
11,996
12,294
13,927
10,978
11,081
10,542
12,053
12,941
14,700
11,606
11,440
11,104
12,686
13,669
15,415
12,686
12,316
11,619
13,321
14,400
16,181
13,636
12,733
12,153
14,639
14,963
16,755
13,883
13,729
12,711
15,087
92
105
81
84
78
92
90
101
83
82
76
91
Far West
Alaska
California
Hawaii
Nevada
Oregon
.. .
Washington
531,892
8,780
403,693
14,107
13,312
31,510
60,491
561,390
8,476
427,087
14,846
14,516
32,961
63,503
606,117
8,939
461,263
15,924
16,153
35,929
67,909
648,573
9,585
490,885
17,205
18,449
38,644
73,806
700,664
10,034
528,276
19,338
20,846
41,819
80,351
729,735
10,547
546,849
20,282
22,079
43,993
85,985
6.53
3.74
6.26
7.53
4.15
5.11
3.52
4.88
5.91
5.20
7.01
14,446
16,129
14,893
13,411
13,573
11,740
13,584
14,912
15,715
15,373
13,900
14,183
12,202
14,011
15,724
16,492
16,203
14,745
15,023
13,105
14,634
16,405
17,517
16,801
15,718
16,221
13,848
15,550
17,252
18,201
17,635
17,370
17,033
14,617
16,367
17,666
18,492
18,000
17,873
17,198
15,056
17,136
111
124
115
103
104
90
104
106
111
108
107
103
90
103
14,680
14,298
12,883
12,438
12,485
10,352
11,733
12,014
14,470
15,825
14,969
13,331
12,895
13,153
10,934
11,838
12,346
14,933
17,329
16,260
14,255
13,496
14,129
11,727
12,523
12,964
15,744
18,317
17,350
15,089
14,323
14,999
12,430
13,235
13,663
16,411
19,059
18,466
15,899
15,215
15,804
13,268
13,982
14,378
17,258
19,563
18,991
16,319
15,752
16,250
13,923
14,626
14,864
17,681,
113
110
99
96
96
80
90
92
111
118
114
98
95
98
84
88
89
106
New England . .
Connecticut
Maine
Massachusetts
New Hampshire
Rhode Island
Vermont
•
...
,. . .
10.65
6.90
i7.29
U.S.
2
27
3
4
17
23
........
6
1
5
15
8
33
20
26
25
""30
21
19
22
24
38
37
"Ib
46
16
29
42
45
50
35
41
34
12
48
""36
47
44
28
""is
39
43
49
31
7
9
10
13
32
14
Census Divisions
New England
Middle Atlantic
East North Central
West North Central
South Atlantic
East South Central
West South Central
Mountain
Pacific
188,409
532,499
534,117
216,361
510,257
155,413
311,575
155,620
518,581
204,975
559,161
554,491
224,767
547,494
164,795
313,976
162,305
546,874
226,777
609,827
594,813
236,664
598,016
177,185
331,475
172,482
589,964
241,455
651,933
631,817
252,021
645,053
188,146
351,466
184,416
630,124
252,004
694,886
668,972
269,150
691,815
201,633
374,221
197,264
679,818
1. The computation of per capita disposable personal income used midyear population estimates provided by
the Bureau of the Census. The 1986-89 population estimates have been adjusted to reflect both the 1980 and
1990 Census of Population counts for April 1; the 1990 midyear (July 1) estimates reflect the 1990 Census of
Population count plus 3 months of estimated population change.
258,178
717,448
692,151
280,543
721,855
213,677
397,050
208,627
707,655
6.50
6.14
5.32
5.33
7.19
6.58
4.97
6.04
6.42
2.45
3.25
3.46
4.23
4.34
5.97
6.10
5.76
4.09
••••••••
5Q • August 1992
SURVEY OF CURRENT BUSINESS
Table 3.—Personal Income by Major Source
[Millions
Massachusetts
Maine
Connecticut
New England
United States
Line
1989
1990
1991
1989
1990
1991
1989
1990
1991
1989
1990
1991
1989
1990
1991
Income by Place of Residence
1 Total personal income (lines 6-11)
2
Nonfarm personal income
Farm income (line 17) 2
3
4
5
Population (thousands)3
Per capita personal income (dollars) 4
4,368,495 4,649,706 4,814,495
4,319,862 4,600,311 4,769,705
44,790
49,395
48,633
281,470
280,728
742
292,836
292,032
804
298,642
297,872
769
80,155
79,967
189
83,978
83,755
223
85,642
85,422
220
19,974
19,812
161
21,099
20,910
190
21,548
21,410
139
131,202
131,014
187
135,566
135,381
185
137,924
137,715
209
252,177
19,092
13,182
21,353
13,222
22,148
13,197
22,629
3,283
24,412
3,290
25,525
3,291
26,022
1,220
16,372
1,231
17,137
1,235
17,454
6,016
21,811
6,020
22,520
5,996
23,003
3,172,857 3,365,086 3,453,094
237,661
224,129
210,734
2,961,383 3,140,182 3,214,659
822,574
781,152
827,168
686,950
772,668
625,960
202,563
13,057
3,300
192,807
52,872
35,792
208,589
13,487
3,364
198,465
54,437
39,934
208,942
13,970
3,413
198,385
54,142
46,115
57,187
3,923
2,656
55,920
15,880
8,356
59,320
4,091
2,954
58,182
16,356
9,440
59,925
4,260
2,975
58,640
16,454
10,548
14,095
814
54
13,334
3,492
3,148
14,745
839
42
13,949
3,650
3,500
14,719
863
28
13,884
3,632
4,032
97,293
6,113
-1,933
89,246
24,057
17,898
99,565
6,294
-2,243
91 ,028
24,656
19,883
99,486
6,514
-2,247
90,725
24,387
22,812
2,575,651 2,730,900 2,799,001
288,052
270,708
251,683
366,041
363,478
345,523
38,234
33,834
38,485
325,244
332,207
307,038
166,686
16,663
19,213
502
18,711
170,401
17,253
20,935
539
20,397
169,437
17,982
21,523
508
21,015
47,655
4,887
4,645
124
4,521
49,137
5,057
5,125
152
4,973
49,382
5,311
5,232
150
5,082
1 1 ,024
1,224
1,847
110
1,738
1 1 ,420 11,322
1,290
1,345
2,052
2,036
82
132
1,970
1,903
80,645
7,759
8,890
122
8,768
81,960
8,007
9,598
113
9,485
81 ,240
8,322
9,924
138
9,786
49,395
44,790
48,633
3,124,224 3,315,691 3,408,304
2,619,883 2,772,093 2,833,831
20,726
19,906
17,863
16,825
15,097
17,595
3,131
3,081
2,766
31,432
32,193
29,696
7,514
7,851
7,355
18,137
16,821
15,597
2,670
2,658
2,789
4,102
3,872
3,955
187,747
198,653
194,249
742
201,822
176,168
1,196
843
353
153
(°)
-16
20
(°)
13,866
804
207,786
180,657
1,249
851
398
124
(°)
-25
9
(D)
12,470
769
208,172
180,444
1,263
848
415
145
(°)
16
5
189
56,999
50,241
258
247
11
67
223
59,096
51,920
270
259
12
45
220
59,705
52,207
268
255
12
51
(D)
190
14,556
11,930
198
73
126
6
0
-2
139
14,580
11,830
211
77
134
7
0
2
1,176
8
991
187
97,106
85,318
550
377
173
48
0
-9
0
56
5,950
185
99,380
87,061
549
357
192
44
1
-11
0
54
5,282
209
99,277
86,916
549
353
196
52
1
6
0
46
4,646
246,820
17,699
249,466
18,639
Derivation of Total Personal Income
6
7
8
9
10
11
Earnings by place of work (line 12-16 or 17-85)
Less: Personal contributions for social insurance5
Plus' Adjustment for residence6
Equals' Net earnings by place of residence
Plus: Dividends interest, and rent7
Plus' Transfer payments 8 .
12
13
14
15
16
Components of earnings:
Wages and salaries
Other labor income
Proprietors' income9
Farm
Nonfarm9
-740
-775
-774
Earnings by Place of Work
Earnings by Industry
17
18
19
20
21
22
23
24
25
26
27
28
Farm
Nonfarm
Private
Agricultural services, forestry, fisheries, and other 10
Agricultural services
Forestry fisheries and other 10 ..
Mining
Coal mining
Oil and gas extraction
Metal mining
Nonmetallic minerals except fuels
Construction
n
10,960
n
-1
(°)40
3,883
34
3,441
30
3,097
161
13,933
11,486
172
65
107
6
(D)
-2
(°)
(D)
1,228
14,347
3,783
454
79
144
418
937
1,258
13
40
397
43
10,564
88
90
463
1 ,356
1,849
1,362
3,637
100
143
1,211
265
3,101
1,561
153
126
(D)
736
147
(°)
(D)
(D)
96
212
1,540
408
30
18
87
194
239
464
9
44
28
19
3,133
1,582
167
121
53
751
149
31
13
0
91
207
1,551
386
32
19
90
189
233
506
9
42
31
16
3,075
1,559
159
122
48
749
145
33
11
0
86
206
1,516
399
30
18
88
179
228
478
9
37
32
17
20,063
5,777
604
431
414
757
1,765
795
79
0
747
185
14,286
156
173
419
1,529
4,101
2,918
1,215
117
366
2,776
514
19,751
5,810
646
438
378
756
1,791
797
71
0
746
187
13,942
135
138
408
1,528
3,846
2,848
1,239
36
350
2,893
522
19,577
5,840
659
456
374
763
1,777
829
67
0
743
171
13,738
121
125
388
1,528
3,700
2,804
1,208
29
318
2,980
537
4,779
120
978
87
1,091
1,342
1,160
5,009
123
946
89
1,196
1,407
1,248
5,116
117
930
112
1,184
1,484
1,288
n
(~>)
n
n
n
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
51
52
Manufacturing
Nondurable goods
Food and kindred products
.
..
Textile mill products
Apparel and other textile products
Paper and allied products
Printing and publishing
Chemicals and allied products
Petroleum and coal products
Tobacco products ....
Rubber and miscellaneous plastics products
Leather and leather products
Durable goods
Lumber and wood products
Furniture and fixtures
Primary metal industries
Fabricated metal products .
.
. . .
Machinery and computer equipment
Electric equipment, except computer equipment
Transportation equipment excluding motor vehicles
Motor vehicles and equipment
Stone clay, and glass products
Instruments and related products ..
Miscellaneous manufacturing industries
637,021
238,947
45,235
15,436
18,395
25,088
47,154
49,304
8,443
2,594
24,638
2,660
398,074
20,783
12,053
30,146
45,548
77,846
58,624
47,796
38,018
17,745
38,930
10,585
651,487
249,480
47,530
15,306
18,370
26,035
49,163
53,257
8,849
2,547
25,631
2,792
402,007
20,598
12,186
30,571
46,909
79,853
57,655
49,431
36,946
18,030
39,415
10,413
657,027
257,741
49,900
15,543
18,723
26,624
50,002
56,108
9,512
2,563
26,012
2,754
399,286
20,050
11,732
29,819
46,653
79,454
57,767
48,372
36,852
17,425
40,510
10,652
45,343
13,096
1,384
964
687
2,221
3,400
2,061
111
19
1,709
539
32,247
960
429
1,246
3,609
7,536
5,656
5,371
292
792
4,821
1,535
45,249
13,240
1,466
939
643
2,259
3,423
2,131
104
39
1,700
536
32,009
889
383
1,234
3,583
7,314
5,541
5,653
194
752
4,940
1,525
44,957
13,479
1,537
971
637
2,261
3,409
2,302
97
40
1,707
518
31,477
875
361
1,193
3,469
7,004
5,473
5,655
187
688
5,048
1,524
14,037
3,478
390
79
144
403
937
1,076
(D)
18
389
10,559
109
99
481
1,455
1,962
1,403
3,343
110
176
1,133
288
n
14,260
3,603
410
76
141
426
936
1,133
14
39
394
33
10,657
98
93
475
1,431
1,972
1,334
3,563
100
155
1,160
276
53
54
55
56
57
58
59
Transportation and public utilities
Railroad transportation .
...
Trucking and warehousing
Water transportation
:
Other transportation n
Communications
Electric gas and sanitary services
209,344
12,281
50,342
6,001
44,924
52,603
43,193
222,609
11,959
52,322
6,302
48,701
57,580
45,745
230,608
11,661
53,687
6,688
50,835
59,497
48,240
9,938
213
2,262
212
1,936
2,828
2,487
10,486
218
2,255
211
2,100
3,020
2,681
10,766
212
2,256
232
2,111
3,180
2,774
2,926
33
609
73
551
936
723
3,100
32
621
71
599
1,009
768
3,254
30
630
70
627
1,096
801
750
(D)
267
20
(D)
158
192
795
171
213
816
(D)
286
22
(°)
173
216
60
61
62
63
64
Wholesale trade
Retail trade
Finance insurance and real estate
Depository and nondepository credit institutions
Other finance, insurance, and real estate 12
207,774
317,302
214,069
74,457
139,612
217,350
327,407
228,748
77,695
151,053
220,976
334,469
229,753
78,372
151,381
13,646
21,064
15,500
4,949
10,551
13,701
20,650
16,564
5,022
11,542
13,472
20,211
16,121
4,776
11,345
3,992
5,604
5,637
1,485
4,152
3,956
5,515
6,149
1,543
4,607
3,972
5,418
6,151
1,464
4,686
756
1,752
613
240
373
771
1,768
665
249
416
741
1,767
652
252
401
6,937
9,699
7,333
2,440
4,893
7,038
9,431
7,748
2,448
5,300
6,862
9,181
7,419
2,313
5,107
65
66
67
68
69
70
71
72
73
74
75
76
77
78
79
80
81
Services
.
Hotels and other lodging places
Personal services
Private households
Business services
Auto repair, services, and parking
Miscellaneous repair services
Amusement and recreation services
Motion pictures
Health services
Legal services
Educational services
Social services 12
Museums botanical zoological gardens
Membership organizations
Engineering and management services13
Miscellaneous services
792,565
32,359
28,524
8,743
135,415
24,637
12,565
25,546
12,147
241,912
68,632
32,785
22,258
1,055
28,937
110,823
6,227
874,501
33,971
29,200
9,161
151,200
25,537
13,290
30,964
13,868
268,924
74,244
35,094
25,119
1,167
30,414
124,776
7,572
920,332
34,117
30,172
8,994
153,811
25,549
11,877
31 ,891
14,099
297,060
77,712
37,624
27,852
1,247
31 ,030
129,083
8,214
55,462
1,715
1,881
385
9,428
1,511
751
1,196
311
17,591
4,114
4,459
1,983
106
1,271
8,402
360
60,164
1,683
1,898
400
10,274
1,493
742
1,401
337
19,439
4,490
4,831
2,171
113
1,348
9,108
437
62,549
1,613
1,918
388
10,366
1,412
671
1,403
340
21,259
4,752
5,239
2,241
118
1,361
9,008
461
13,838
277
520
119
2,274
373
215
347
79
4,721
1,021
853
459
20
353
2,113
92
15,184
255
531
124
2,457
389
210
424
85
5,283
1,102
959
530
22
375
2,332
105
15,651
234
536
120
2,476
362
193
406
96
5,786
1,158
1,078
572
23
370
2,129
111
3,107
155
139
45
322
117
51
74
13
1,236
226
145
13C
3,416
155
141
47
377
116
53
87
17
1,354
252
154
148
82
351
19
88
399
23
3,571
157
147
45
368
115
51
88
14
1,477
271
166
156
i
90
397
26
29,960
849
861
148
5,521
735
366
550
181
8,730
2,287
2,775
1,055
72
632
5,015
183
32,210
843
861
154
5,927
708
355
640
187
9,585
2,507
2,973
1,109
76
668
5,388
229
33,514
817
862
148
5,951
662
318
659
179
10,481
2,651
3,199
1,116
78
675
5,484
235
504,341
102,612
45,211
356,518
543,598
109,812
46,569
387,217
574,473
115,475
48,922
410,076
25,653
4,209
1,611
19,833
27,129
4,539
1,646
20,944
27,728
4,655
1,660
21,413
6,758
835
466
5,456
7,176
914
489
5,773
7,498
936
491
6,071
2,447
600
286
1,561
2,626
626
282
1,718
2,750
633
300
1,817
11,787
1,987
460
9,340
12,318
2.152
475
9,691
12,361
2,222
495
9,644
82
83
84
85
Government and government enterprises
Federal, civilian
Military
State and local
See footnotes at end of table.
n
276
21
n
L
SURVEY OF CURRENT BUSINESS
August 1992 • 51
and Earnings by Industry], 1989-91
of dollars]
New Hampsh re
Mideast
Vermont
Rhode Island
1989
1989
1990
1991
1989
1990
1991
22,578
22,538
39
23,337
23,290
47
24,038
23,990
49
18,143
18,100
43
18,878
18,843
36
19,291
19,253
37
9,419
9,297
122
9,976
9,854
122
1,105
20,441
1,111
20,998
1,105
21,760
1,001
18,131
1,005
18,786
1,004
19,207
558
16,888
565
17,666
14,798
846
2,222
16,174
4,180
2,224
15,078
863
2,329
16,544
4,300
2,493
15,065
893
2,360
16,531
4,256
3,251
12,538
961
206
11,783
3,435
2,926
12,944
987
160
12,118
3,526
3,235
12,738
1,010
174
11,902
3,466
3,923
6,653
400
97
6,350
1,829
1,240
6,937
413
121
6,645
1,948
1,383
7,010 648,823
430 46,685
123 -7,655
6,702 594,483
1,947 169,121
1,548 130,828
11,727
1,217
1,854
22
1,832
11,774
1,243
2,061
27
2,033
11,630
1,287
2,147
29
2,118
10,383
1,045
1,110
34
1,076
10,672
1,089
1,184
26
1,158
10,399
1,122
1,218
28
1,190
5,253
532
868
91
777
39
14,759
13,038
76
67
9
16
_2
0
18
1,353
47
15,031
13,188
80
69
11
12
49
15,016
13,126
81
70
11
14
43
12,495
10,513
93
45
49
3
36
12,909
10,790
99
46
53
3
37
12,701
10,575
101
45
57
4
-2
0
14
1,180
1
0
13
1,050
-2
-2
1
5
825
5
818
3,696
1,007
89
95
(D)
200
227
(D)
2
0
256
70
2,689
150
32
149
201
959
443
38
9
74
576
57
3,666
991
88
92
27
198
231
43
3
0
244
65
2,675
135
32
149
209
982
453
39
2
73
545
55
3,569
1,006
92
95
32
204
229
46
3
0
247
57
2,563
131
29
141
195
951
433
42
2
64
519
56
2,930
921
69
221
32
57
205
101
2
0
194
41
2,009
30
48
154
231
182
179
211
44
47
242
640
2,890
889
65
201
27
644
5
172
(D)
684
6
169
198
225
880
1,885
845
309
536
894
1,838
854
297
557
887
1,798
842
284
558
723
1,341
775
336
439
676
1,314
823
336
487
3,643
187
168
28
669
135
49
110
18
1,139
220
245
131
3
77
436
29
3,978
177
173
29
766
128
50
122
19
1,267
243
269
145
3
81
467
37
4,193
168
178
28
797
130
49
125
22
1,372
261
290
157
4
80
491
41
3,333
67
124
22
475
96
44
75
10
1,228
259
305
157
,4
92
346
29
1,721
276
104
1,341
1,843
293
87
1,463
1,889
293
45
1,551
1,981
350
265
1,367
n
176
692
6
171
(DD)
()
181
236
492
(D)
124
20
n
136
121
i
59
!
194
;
104
!
2
0
194
42
, 2,001
29
44
i;
160
230
186
162
214
43
49
244
640
1989
1990
1991
Delaware
1991
1989
1990
1991
1989
1990
1991
1989
1990
1991
10,198 894,432 946,763
10,082 891,516 943,862
115
2,916
2,901
972,250
969,722
2,528
12,815
12,615
199
13,727
13,551
175
14,154
13,980
173
13,870
13,870
14,044
14,044
14,397
14,397
98,995
98,572
423
104,762
104,314
448
107,836
107,415
421
1
2
3
43,585
20,522
43,917
22,138
658
19,467
669
20,514
680
20,816
624
22,221
601
23,351
598
24,063
4,727
20,941
4,802
21,816
4,860
22,189
4
684,584 693,491
49,324 51,440
-8,673 . -9,111
626,586 632,940
177,184 176,342
142,993 162,968
10,417
1,113
-350
8,954
2,325
1,536
11,005
1,190
-310
9,505
2,566
1,656
11,351 25,963 27,532 28,678
2,014
1,259
1,815
1,933
-322 -15,361 -16,820 -17,875
8,789
9,770
8,786
8,779
2,454
- 2,517
2,428
2,426
3,154
1,866
2,839
2,655
64,549
4,336
10,026
70,240
16,545
12,210
68,521
4,592
10,191
74,120
17,258
13,383
69,709
4,776
10,764
75,697
17,120
15,019
6
7
8
9
10
11
5,438
567
932
88
844
5,465 537,435 565,990 571,092
594 49,244 52,378 54,953
950 62,144 66,215 67,446
81
2,177
2,088
1 730
869 59,967 64,126 65,716
8,417
916
1,084
178
906
8,899
962
1,145
152
992
9,177
1,031
1,143
150
992
54,202
4,661
5,686
346
5,341
57,394
4,992
6,135
363
5,773
58,128
5,249
6,332
337
5,995
12
13
14
15
16
122
6,531
5,572
46
42
4
13
122
6,815
5,768
52
47
5
14
199
10,217
8,895
37
36
1
4
175
10,830
9,415
42
40
2
4
173
11,178
9,684
44
42
2
7
4
662
-1
0
14
628
-1
0
15
572
2,916
115
2,901
2,528
6,894 645,907 681,683 690,962
5,790 541 ,370 568,809 573,281
54
2,594
2,831
2.903
2,052
2,221
2,287
49.
542
610
5
616
1,774
1,750
1,698
16
968
1 015
942
0
191
246
'179
0
49
43
89
532
15
501
468
514 38,529 38,034 34,724
423
25,963 27,532 28,678 64,126
15,024 16,006 16,186 50,369
354
221
248
249
7
7
7
319
241
214
243
35
9
4
57
3
(D)
30
(D)
(D)
7
2
-6
0
(D)
(D)
(D)
(D)
32
(")
(")•
484
507
424
856
5,€17
448
68,073
53.210
385
346
40
60
32
-7
0
36
5,710
421
69,288
53,509
394
354
41
67
32
5
1
30
5,066
17
18
19
20
21
22
23
24
25
26
27
28
2,835
915
75
209
23
57
195
114
1
0
202
38
1,919
29
44
161
211
182
134
203
40
45
240
631
1,517
352
80
12
17
69
118
21
5
(D)
28
(D)
1,165
108
47
24
105
139
473
99
4
85
65
17
1,549
366
91
11
17
69
123
23
1
0
30
2
1,183
105
44
23
95
139
511
92
5
84
66
17
7,301
3,070
745
(D°)
7,193
3,117
744
(")
296
i. 957
561
35
0
250
! 29
4,232
300
948
600
34
0
256
39
4,076
114
74
481
291
625
585
330
221
242
1,039
73
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
51
52
567
17,997
1,554 111,684
377 50,655
7,814
98
1,717
10
5,017
16
70
4,179
125 12,403
23 13,811
1
1,533
0
150
3,447
30
584
2
1,177 61,028
108
1,675
44
1,428
22
6,102
91
6,793
142 12,038
512
9,572
3,354
86
7
3,203
82
3,738
66 10,455
18
2,669
43,703
21,664
112,469 112,241
52,577 53,516
7,912
8,115
1,646
1,616
4,927
4,859
4,116
4,225
12,818 12,706
15,051 15,944
1,636
1,703
156
181
3,696
3,605
600
579
59,892 58,724
1,620
1,585
1,397
1,258
5,910
6,165
6,773
6,623
12,057 12,008
8,617
8,943
3,229
3,148
3,072
3,080
3,594
3,735
10,367 10,406
2,534
2,496
-i
(»)
JDJ
-1
(D)
H
849
864
3,330
2,573
(D)
18
3,476
2,737
204
(°)
(D)
77
73
2,184
58
0
(DD)
()
739
26
16
44
66
38
(DD)
()
358
25
n76
73
2,035
58
0
(DD)
()
757
29
16
42
65
n
(°)
6
393
23
121
5
134
5
347
(D)
113
(°)
49
80
94
368
(D)
117
(°)
51
87
100
374 41,565
(D) 1,834
120
8,679
(D) 1,389
49
8,941
86 12,387
8,334
106
44,501
1,778
8,965
1,422
9,773
13,713
8,851
45,769
1,684
8,990
1,562
10,084
14,077
9,372
633
1,264
768
315
452
359
782
298
140
158
365
784
325
150
175
378
783
290
149
141
43,936
57,304
61,264
19,765
41,499
45,642
58,193
65,562
20,850
44,712
44,954
58,266
65,443
20,800
44,643
3,637
67
123
23
553
94
44
84
9
1,348
279
329
179
4
99
367
33
3,793
65
124
23
574
86
36
81
9
1,475
294
346
179
5
107
351
37
1,582
181
68
22
168
55
26
40
11
538
100
136
51
3
34
141
8
1,739
184
69
23
193
58
30
44
20
602
106
147
59
4
37
155
10
1,828
172 ;
70
23 ~
199
58
24
45
20
667
116
161
61
4
39
157
12
182,743 199,801 207,284
6,154
5,990
6,255
5,087
5,303
5,173
1,695
1,739
1,676
32,515 35,400 34,925
4,404
4,533
4,398
2,356
2,006
2,263
6,804
6,787
5,713
2,595
2,640
2,486
52,253 58,057 64,046
19,101 20,558 21,369
10,317 11,111
11,830
7,911
6,432
7,243
352
312
345
6,917
6,749
6,386
26,264 29,087 28,968
1,814
1,959
1,550
2,048
53
68
32
349
74
33
55
8
711
181
74
77
13
78
234
9
2,225
53
73
34
394
72
35
63
9
786
194
72
88
13
81
249
11
2,119
377
278
1,464
2,126
387
295
1,444
959
161
30
768
1,046
176
35
835
1,105
183
36
886
104,538
26,395
3,974
74,168
112,874 117,682
28,274 30,154
4.474
4,222
80,378 83,054
1,322
185
128
1,009
1,415
201
132
1,082
531
(°)
126
20
(D)
160
127
Maryland
District of Columbia
Line
1990
515
(D)
119
18
(D)
160
127
3,583
2,840
208
(D)
(D)
66
71
2,272
62
0
(°)
743
23
14
42
66
37
(DD)
()
367
24
130
5
n
557
579
Q
n
n91
146
20
(°)
100
(°)
141
22
(D)
104
(D)
470
975
836
616
219
(D)
427
916
743
490
253
463
960
823
552
272
24,381
1,851
1,299
25,344
2,004
1,330
1,249
1,299
1,330
n
ri
542
n
23,021
1,693
1,249
n
714
600
14
1
1
2
562
17
3
0
709
581
(D)
0
1
2
541
17
5
3
(D)
0
128
3
2
3
4
(DD)
()
15
6
7
729
611
13
1
1
2
572
18
4
0
(°)
(°)
118
3
2
4
3
9
(DD)
()
7
7
4
3
4
4
3
3
1,195
1,205
1,165
3 84
4
127
704
(D)
125
727
(°)
,(D)
(")
114
2
1
3
3
10
(°D)
5
7
()
n
26
8
133
720
n
7,030
2,892
693
26
(°)
275
931
503
33
0
228
D
()
4,138
101
70
499
287
620
643
332
260
265
995
65
: ()
[
;
106
76
522
306
• 644
600
329
221
'• 281
1,071
76
n
5
4,445
(D)
1,286
874
4,198
(D)
915
125
(D)
1,390
946
1,532
1,008
53
54
55
56
57
58
59
3,975
194
890
n
n
911
131
n
350
956
1,386
536
850
378
954
1,449
568
881
382
894
1,422
535
887
3,840
7,378
4,046
1,417
2,629
3,896
7,466
4.334
1,516
2,818
3,923
7,462
4,247
1,494
2,753
60
61
62
63
64
2,336
57
77
33
387
78
34
65
9
864
210
75
100
13
85
236
12
9,749
428
86
96
921
67
20
83
50
1,298
2,407
860
245
9
1,229
1,885
63
10,541
446
87
96
978
80
20
88
54
1,449
2,596
930
271
10
1,319
2,050
67
10,887
459
87
93
1,004
67
15
90
46
1,565
2,693
995
295
10
1,416
1,973
77
18,071
474
599
217
3,958
511
306
475
93
5,066
1,105
733
467
11
694
3.274
87
19,859
499
619
228
4,337
538
334
549
95
5.699
1,190
784
548
13
736
3.585
108
20,710
496
637
224
4,449
518
204
535
98
6,264
1.237
867
617
13
730
3,713
108
65
66
67
68
69
70
71
72
73
74
75
76
77
78
79
80
81
1,494
206
144
1,145
10,939
8,440
543
1,956
11,526
8,885
604
2,036
12,492
9,789
668
2,035
13,757
5,387
1,116
7,253
14.863
5,749
1.177
7,938
15,780
6,116
1,264
8,399
82
83
84
85
SURVEY OF CURRENT BUSINESS
5-2 • August 1992
Table 3.—Personal Income by Major Source
[Millions
New Jersey
Line
New York
Illinois
Great Lakes
Pennsylvania
Item
1989
. 1990
1991
1989
1990
1991
1989
1990
1991
1989
1990
1991
1989
1990
1991
Income by Place of Residence
1
2
3
Total personal income (lines 6-11)
Nonfarm personal income
Farm income (line 17) 2
4
5
Population (thousands) 3
Per capita personal income (dollars)4
183,980
183,691
289
194,598
194,339
259
199,181
198,922
259
375,402
374,513
890
397,006
396,106
901
405,765
404,958
807
209,370
208,255
1,115
222,626
221,508
1,117
230,917
230,049
868
730,188
723,374
6,814
771,215
765,352
5,863
793,684
789,865
3,818
219,522
217,626
1,897
232,735
231,185
1,550
239,293
238,306
987
7,726
23,813
7,735
25,157
7,760
25,666
17,983
20,875
18,002
22,053
18,058
22,471
11,866
17,644
11,893
18,719
11,961
19,306
41,873
17,438
42,076
18,329
42,414
18,713
11,410
19,240
11,443
20,338
11,543
20,731
121,359
8,753
15,515
128,120
35,458
20,402
127,253
9,164
17,342
135,432
36,695
22,471
128,865
9,654
17,614
136,825
36,516
25,840
280,327
20,370
-17,375
242,582
74,041
58,780
295,654
21,585
-19,027
255,042
77,532
64,433
296,806
22,288
-19,166
255,352
76,919
73,493
146,208
10,299
158,081
11,448
135,801
38,325
35,245
154,619
10,862
-49
143,708
40,707
38,210
146,507
40,815
43,595
532,094
37,200
2,416
497,310
126,715
106,164
559,345
39,314
2,717
522,748
133,480
114,987
570,839
41,523
2,815
532,131
133,954
127,599
161,275
10,997
44
150,322
41,007
28,193
170,549
11,705
117
158,962
43,341
30,432
174,692
12,377
136
162,451
43,488
33,355
101,115
9,538
10,706
204
10,502
105,801
9,943
11,509
166
11,343
106,667
10,411
11,787
167
11,620
232,809
19,848
27,670
622
27,048
244,953
21,191
29,511
606
28,904
244,459
22,018
30,329
519
29,810
117,870
12,589
15,749
828
14,922
124,563
13,439
16,616
801
15,815
127,318
14,238
16,525
556
15,969
436,962
45,389
49,742
5,654
44,088
460,093
48,317
50,935
4,586
46,350
470,741
51,068
49,030
2,565
46,465
130,848
13,148
17,279
1,638
15,642
138,546
14,257
17,746
1,264
16,482
142,214
15,140
17,338
707
16,631
289
121,070
104,543
482
449
33
97
(D)
259
126,994
109,046
498
463
35
89
(D)
259
128,606
109,585
501
466
35
95
901
294,753
247,897
977
718
259
293
6
83
39
165
13,963
807
295,999
248,465
1,005
744
260
272
6
84
32
150
12,808
1,115
145,094
126,455
601
574
28
1,255
931
113
6
205
9,516
1,117
153,501
133,235
681
647
34
1,324
976
114
2
232
9,611
868
157,213
135,852
710
674
36
1,247
903
139
2
204
9,035
6,814
525,280
455,493
2,069
1,992
77
2,443
1,250
376
199
619
29,504
5,863
553,482
478,537
2,349
2,254
94
2,469
1,304
382
141
642
30,850
3,818
567,021
487,718
2,476
2,385
91
2,421
1,219
448
161
593
29,783
1,897
159,379
139,113
646
623
23
886
609
82
1
193
9,713
1,550
168,999
147,321
747
721
26
916
627
92
1
197
10,188
987
173,705
150,587
793
767
26
917
631
112
1
172
9,783
Derivation of Total Personal Income
6
7
8
9
10
11
Earnings by place of work (line 12-16 or 17-85) 5
Less: Personal contributions for6 social insurance
Plus: Adjustment for residence
Equate' Net earnings by place of residence
Plus' Dividends interest 8and rent7
Plus: Transfer payments
12
13
14
15
16
Components of earnings:
Wages and salaries
Other labor income 9
Proprietors' income
Farm
Nonfarm9
-109
-126
Earnings by Place of Work
Earnings by Industry
17
18
19
20
21
22
23
24
25
26
27
28
Farm
.
.
Nonfarm
Private
Agricultural services, forestry, fisheries, and other 10
Agricultural services
Forestry fisheries and other10
Mining
Coal mining . . .
.
.
Oil and gas extraction
Metal mining
Nonmetallic minerals except fuels
Construction
(D)
100
7,808
(D)
97
7,380
(D)
81
6,535
890
279,438
236,084
899
668
231
334
6
95
71
161
14,254
24,189
13,485
1,814
401
768
928
2,191
5,823
559
9
919
73
10,704
194
254
694
1,460
2,040
2,332
173
341
743
1,858
615
23,916
14,043
1,774
405
737
927
2,218
6,318
601
5
967
91
9,873
155
247
677
1,443
2,002
1,864
145
263
709
1,824
544
23,844
14,416
1,801
421
699
920
2,204
6,613
648
5
998
108
9,428
133
216
634
1,369
1,931
1,736
103
254
667
1,847
539
42,301
17,943
2,528
647
2,745
1,429
6,245
2,645
298
110
1,001
295
24,358
482
543
993
2,049
5,314
3,667
1,336
1,496
1,110
6,137
1,231
42,635
18,376
2,536
584
2,754
1,413
6,436
2,899
296
123
1,049
285
24,260
472
535
1,001
2,025
5,304
3,750
1,263
1,590
1,136
5,974
1,210
42,331
18,342
2,589
549
2,729
1,323
6,312
3,074
272
150
1,090
255
23,989
454
461
972
1,956
5,423
3,658
1,161
1,652
1,107
5,967
1,178
34,124
13,181
2,580
624
1,318
1,469
2,421
2,788
581
28
1,185
188
20,943
865
543
3,870
2,929
4,006
2,851
1,492
707
1,589
1,341
750
34,412
13,741
2,640
605
1,251
1,510
2,563
3,069
643
27
1,236
195
20,671
857
522
3,916
2,930
4,061
2,649
1,469
633
1,577
1,360
697
34,576
14,202
2,760
591
1,235
1,505
2,609
3,368
684
26
1,246
177
20,374
859
492
3,777
2,938
3,981
2,558
1,525
581
1,547
1,418
698
151,933
44,891
9,012
361
1,685
5,409
9,308
9,418
1,289
16
7,956
437
107,041
2,566
2,875
12,085
15,871
22,755
11,256
4,370
25,576
3,682
4,158
1,847
154,230
47,082
9,524
384
1,566
5,742
9,672
10,160
1,318
16
8,215
486
107,148
2,595
2,970
12,085
15,968
23,128
11,230
4,397
24,766
3,781
4,334
1,893
154,078
48,697
9,944
383
1,526
5,841
9,950
10,969
1,351
17
8,251
466
105,381
2,605
2,939
11,765
15,750
22,561
11,275
4,314
24,195
3,693
4,358
1,927
33,980
13,111
3,057
72
322
1,038
3,681
2,726
469
13
1,622
110
20,869
345
480
2,211
3,472
5,969
3,769
535
1,303
669
1,436
679
35,182
14,010
3,337
89
320
1,132
3,774
3,010
506
14
1,708
119
21,172
362
475
2,209
3,552
6,040
3,828
508
1,301
700
1,502
696
35,286
14,506
3,481
90
325
1,146
3,839
3,207
530
15
1,758
115
20,780
352
464
2,199
3,454
5,887
3,810
485
1,281
692
1,461
695
9,251
106
2,538
505
1,684
2,976
1,441
9,740
111
2,544
514
1,751
3,299
1,521
10,250
116
2,559
579
1,865
3,505
1,626
16,986
656
2,525
527
4,972
5,293
3,013
18,481
669
2,667
552
5,269
6,145
3,180
18,795
671
2,649
580
5,205
6,312
3,378
9,646
735
2,553
192
1,480
2,038
2,649
10,330
670
2,667
207
1,901
2,052
2,832
10,495
598
2,705
243
2,089
1,904
2,956
32,870
2,240
9,867
361
5,807
7,321
7,274
34,431
2,119
10,227
365
6,197
7,759
7,765
35,113
2,005
10,456
383
6,491
7,723
8,055
11,600
878
2,903
100
2,935
2,610
2,174
12,211
839
3,001
105
3,104
2,757
2,404
12,488
804
3,010
113
3,269
2,762
2,529
(13)
(13)
%
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
51
52
Manufacturing
Nondurable goods
Food and kindred products
Textile mill products
Apparel and other textile products
Paper and allied products
Printing and publishing
Chemicals and allied products
Petroleum and coal products
Tobacco products
Rubber and miscellaneous plastics products
Leather and leather products
Durable goods
Lumber and wood products
Furniture and fixtures
53
54
55
56
57
58
59
Transportation and public utilities
Railroad transportation
Trucking and warehousing
Water transportation!
Other transportation *
Communications
Electric, gas, and sanitary services
60
61
62
63
64
Wholesale trade
Retail trade
Finance insurance and real estate
Depository and nondepository credit institutions
Other finance insurance and real estate 12
11,014
11,569
11,371 . 11,501
8,728
8,115
2,569
2,523
5,591
6,159
11,411
11,460
8,456
2,422
6,033
19,179
21,857
38,586
11,685
26,901
19,865
22,047
41 ,043
12,412
28,631
19,251
21,890
41,384
12,376
29,009
9,126
14,827
8,388
3,113
5,275
9,471
15,264
9,184
3,234
5,951
9,517
15,585
9,098
3,357
5,741
35,771
50,772
29,793
10,624
19,168
37,174
52,429
32,363
11,182
21,181
38,273
53,855
32,576
11,625
20,951
13,308
15,009
13,021
4,054
8,967
13,689
15,271
14,042
4,226
9,816
14,020
15,644
14,248
4,367
9,882
65
66
67
68
69
70
71
72
73
74
75
76
77
78
79
80
81
Services
Hotels and other lodging places
Personal services
Private households
.
Business services
Auto repair services and parking
Miscellaneous repair services
Amusement and recreation services
Motion pictures
Health services
Legal services
Educational services
Social services12
Museums botanical zoological gardens
Membership organizations
Engineering and management sen/ices 13
Miscellaneous services
32,216
2,114
928
212
7,303
936
518
855
183
8,918
2,185
960
651
9
795
5,471
181
35,626
2,254
949
220
8,323
946
493
1,051
197
9,994
2,390
986
728
10
845
6,029
211
37,034
2,192
976
214
8,445
900
461
1,085
190
11,025
2,515
1,080
789
12
835
6,079
237
81,688
1,955
2,012
866
14,550
1,580
857
3,212
1,990
21,706
10,150
4,887
3,627
229
2,227
10,830
1,00.6
88,592
2,012
2,008
898
15,370
1,631
907
3,800
2,064
24,075
10,807
5,226
4,069
253
2,343
11,951
1,176
90,728
1,971
2,034
874
14,581
1,573
762
3,724
2,108
26,569
11,150
5,483
4,403
248
2,394
11,571
1,282
38,972
966
1,393
253
5,433
1,230
529
1,033
161
14,554
3,073
2,803
1,365
41
1,364
4,570
204
42,958
992
1,439
263
5,998 ;
1,267
567
1,236
177 1
16,055
3,383
3,111
1,537
45
1,425
5,222
241
45,589
979
1,492
257
6,059
1,268
529
1,305
190
17,758
3,564
3,330
1,707
56
1,456
5,396
244
120,338
2,967
4,806
866
20,957
3,837
1,933
3,213
998
40,678
9,557
4,428
3,604
184
5,107
16,287
916
132,242
3,041
4,934
900
23,265
4,065
2,054
3,901
1,129
45,049
10,208
4,716
4,032
205
5,379
18,271
1,094
139,143
3,025
5,114
881
23,623
4,070
1,845
4,045
1,205
49,487
10,700
5,010
4,438
227
5,520
18,766
1,186
40,950
1,088
1,483
263
8,538
1,215
631
902
465
11,137
4,151
1,671
1,059
87
1,816
6,134
309
45,076
1,108
1,505
274
9,483
1,331
678
1,113
553
12,401
4,421
1,780
1,158
96
1,927
6,891
356
47,408
1,105
1,553
268
9,621
1,356
634
1,154
605
13,703
4,618
1,899
1,320
107
1,989
7,092
386
16,527
2,695
541
13,290
17,948
2,947
556
14,445
19,021
3,125
551
15,345
43,354
5,256
996
37,102
46,857
5,714
1,027
40,115
47,534
5,962
1,083
40,489
18,638
4,432
650
13,557
20,266
4,778
726
14,763
21,361
4,956
764
15,640
69,786
10,800
2,612
56,375
74,945
1 1 ,605
2,700
60,640
79,303
12,037
2,760
64,506
20,266
3,573
1,139
15.554
21,678
3,860
1.163
16,655
23,118
4,031
1,173
17,913
82
83
84
85
Primary metal industries
Fabricated metal products . .
Machinery and computer equipment .
Electric equipment, except computer equipment
Transportation equipment excluding motor vehicles
Motor vehicles and equipment
Stone clay and glass products
Instruments and related products
Miscellaneous manufacturing industries
Government and government enterprises
Federal civilian
Military
State and local
See footnotes at end of table.
SURVEY OF CURRENT BUSINESS
August 1992 • 53
and Earnings by Industry1,1989-91—Continued
of dollars]
Michigan
Indiana
Ohio
Wisconsin
Plains
Kansas
Iowa
Line
1989
1990
1991
88,141
87,163
977
93,259
92,403
855
96,365 163,173 170,385 174,750 178,997 189,139
96,022 162,131 169,467 173,987 178,026 188,176
344
1,041
918
764
972
963
5,524
15,957
5,554
16,792
5,610
17,179
64,863
4,032
1,129
61,960
14,175
12,006
1989
1990
1991
1989
1989
1990
1991
1989
1990
1991
88,891 290,443 309,511 320,718
87,716 281,184 298,897 311,977
8,741
1,174
9,259 10,614
43,934
41,637
2,297
46,942
44,487
2,455
48,347
46,431
1,917
40,767
40,045
722
44,065
42,800
1,265
45,706
44,815
891
2
3
4,906
17,468
4,955
17,939
17,811
18,007
2,771
15,857
2,780
16,884
2,795
17,296
2,473
16,486
2,480
17,765
2,495
18,322
4
5
57,294
3,983
1,319
54,629
13,770
11,956
60,890
4,278
1,408
58,020
14,717
12,961
62,856 211,325 224,877 230,903
4,606 14,643 15,565 16,717
1,435 -2,224 -2,159 -2,270
59,684 194,457 207,153 211,916
14,903 54,003 56,958 57,986
14,303 41 ,983 45,400 50,816
30,777
2,040
320
29,057
8,253
6,624
32,766
2,173
435
31,028
8,764
7,150
33,480
2,350
446
31,576
8,925
7,847
27,972
1,946
1,108
27,135
7,783
5,850
30,160
2,070
1,278
29,368
8,366
6,331
30,965
2,233
1,266
29,998
8,731
6,977
6
7
8
9
10
11
114,014 116,242
11,216 11,798
11,220 10,784
744
336
10,476 10,448
45,896
4,901
6,497
1,633
4,864
49,150
5,373
6,367
1,251
5,116
51,148
5,769
5,939
853
5,086
165,318 175,380 181,839
16,511 17,761
19,073
29,495 31,736 29,991
7,394
8,001
9,237
21,494 22,500 22,597
22,751
2,374
5,652
2,031
3,621
24,252
2,582
5,932
2,164
3,769
25,273
2,776
5,431
1,632
3,799
22,156
2,229
3,587
517
3,071
23,507
2,409
4,244
1,041
3,203
24,470
2,601
3,893
672
3,221
12
13
14
15
16
855
67,398
58,334
278
274
5
401
294
10
0
97
4,155
344
1,041
918
764
972
963
549
69,786 117,768 122,284 123,574 128,880 135,488 138,274
60,162 101,807 105,081 105,554 111,591 116,993 118,751
411
454
477
522
296
472
543
292
387
449
514
425
466
536
4
24
29
7
28
6
8
370
363
747
339
368
733
678
258
0
387
329
0
0
383
17
124
119
130
166
160
183
0
132
112
16
136
43
13
95
107
108
101
168
153
156
7,157
4,270
5,942
6,857
6,721
5,836
5,529
1,928
55,366
47,473
300
279
21
88
1
-4
22
68
3,121
1,577
59,313
50,808
348
321
27
80
1
-5
11
73
3,407
1,174
8,741
9,259 10,614
61,682 202,066 214,263 222,162
52,663 169,757 179,559 185,493
1,126
1,292
1,359
368
1,083
1,241
342
1,311
26
43
48
51
88
1,130
1,206
1,235
1
145
155
153
321
6
350
378
11
367
388
391
297
314
72
310
3,481
12,164 11,914
11,681
2,297
28,480
23,722
233
228
5
57
4
-1
0
54
1,434
2,455
30,311
25,236
277
271
6
59
4
-1
0
56
1,587
1,917
31,563
26,207
291
285
6
67
3
2
0
62
1,615
722
27,251
22,271
152
150
2
273
11
234
1
28
1,547
1,265
28,895
23,593
170
168
2
298
15
251
0
32
1,597
891
30,074
24,469
179
177
2
298
10
255
0
33
1,594
17
18
19
20
21
22
23
24
25
26
27
28
21,381
5,512
912
22
172
397
1,005
1,485
215
1
1,265
37
15,870
629
526
3,078
1,655
2,292
2,760
1,007
2,399
553
681
288
21,694
5,808
944
21
174
436
1,063
1,634
194
1
1,298
42
15,885
631
548
3,105
1,695
2,324
2,642
1,013
2,327
581
729
292
21,979
6,105
964
25
178
455
1,106
1,873
209
1
1,254
39
15,874
620
545
3,073
1,722
2,279
2,698
1,065
2,316
572
679
304
4,431
348
1,709
58
474
892
950
4,601
338
1,791
63
504
906
999
4,712
324
1,879
66
522
895
1,025
6,052
351
1,582
46
1,100
1,355
1,617
3,587
6,461
2,830
1,127
1,703
3,799
6,722
3,117
1,191
1,925
3,935
6,956
3,128
1,255
1,873
7,108
11,119
4,823
2,085
2,738
12,241
318
641
102
1,710
520
239
331
68
5,002
767
516
383
16
578
978
73
13,567
322
668
106
1,919
531
256
397
76
5,622
842
549
430
19
612
1,134
84
14,516
324
700
104
1,965
529
241
426
82
6,197
907
594
472
21
628
1,232
95
8,377
1,450
299
6,627
9,064
1,562
316
7,186
9,624
1,650
326
7,648
1991
1989
1990
1991
194,384
193,835
549
80,355
78,428
1,928
85,698
84,121
1,577
10,939
17,770
4,857
16,546
68,254
4,256
1,266
65,263
14,939
13,057
70,130 118,809 123,202 124,338 129,851 136,450 138,823
8,504
4,556
8,855
9,207
9,683 10,220 10,777
867
1,285
817
-941
893
-893
-933
66,859 111,122 115,214 116,023 119,276 125,289 127,113
14,977 27,744 28,707 28,737 30,019 31,777 31,849
14,530 24,306 26,465 29,990 29,703 32,072 35,422
52,879
5,659
6,325
798
5,528
55,720
6,036
6,498
659
5,839
57,628
6,434
6,067
152
5,916
977
63,886
55,510
240
236
4
360
253
13
0
94
3,978
9,253
17,634
9,314
18,293
9,368
18,655
1989
10,829
16,529
98,856 102,663 103,510 108,483
11,048 11,435 11,927 10,633
9,105
8,905
8,901
10,735
814
667
517
772
8,437
8,384
8,091
9,963
1990
10,859
17,418
17,595
16,507
1990
17,690
17,496
1991
1
39,366
8,306
1,531
50
625
815
1,392
2,255
119
0
1,431
88
31,060
409
1,222
1,652
4,369
4,971
1,064
626
15,257
654
610
225
39,071
11,897
1,877
120
274
1,277
2,149
2,742
465
1
2,913
78
27,175
528
396
4,192
4,461
5,783
2,481
1,940
4,676
1,543
776
399
39,630
12,346
1,930
127
270
1,334
2,240
2,924
482
0
2,954
85
27,284
516
391
4,261
4,419
5,847
2,525
2,006
4,551
1,550
804
414
39,522
12,694
2,016
124
261
1,336
2,297
3,130
477
0
2,975
78
26,828
532
382
4,143
4,332
5,709
2,495
1,910
4,550
1,501
852
423
16,991
6,406
1,741
95
130
1,930
1,169
433
17
0
752
139
10,585
659
293
686
1,774
3,699
1,102
235
944
243
699
250
17,677
6,823
1,861
97
134
2,047
1,260
455
16
0
808
144
10,854
679
314
698
1,847
3,825
1,147
241
871
264
707
261
17,926
7,087
1,952
94
137
2,089
1,316
503
17
0
834
146
10,839
692
327
698
1,872
3,715
1,207
227
792
273
756
279
43,189
17,499
5,857
89
588
2,352
3,953
2,407
303
1
1,623
325
25,690
1,197
713
1,112!
3,109
6,833
3,060
3,732
2,187
1,023
2,168
555
44,561
18,304
6,083
82
594
2,430
4,237
2,487
318
1
1,735
338
26,258
1,199
755
1,157
3,487
6,845
2,840
3,902
2,080
1,081
2,324
589
45,350
19,095
6,497
92
641
2,515
4,358
2,568
331
1
1,756
336
26,255
1,190
744
1,126
3,562
6,731
2,952
3,756
2,061
1,050
2,437
645
6,905
2,691
1,259
9
81
149
539
220
7
0
411
15
4,214
172
167
304
515
1,590
448
57
278
158
395
128
7,187
2,859
1,337
10
84
156
572
238
10
0
436
17
4,328
183
184
317
537
1,607
460
62
265
166
413
134
7,244
2,957
1,399
10
89
168
582
256
11
0
424
17
4,287
192
170
309
539
1,538
485
60
258
173
426
138
5,470
2,032
678
6
53
148
478
283
123
0
259
3
3,438
73
33
83
288
581
215
1,564
267
189
109
37
5,664
2,089
693
6
54
150
511
282
126
0
264
4
3,575
75
36
84
289
617
219
1,653
262
200
104
36
5,849
2,199
750
7
76
144
536
279
131
0
272
4
3,650
75
36
82
303
598
240
1,709
271
190
106
39
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
51
52
6,303
327
1,616
45
1,174
1,474
1,667
6,377
303
1,627
47
1,222
1,423
1,756
7,552
537
2,390
135
872
1,824
1,793
7,839
490
2,437
132
945
1,924
1,912
7,904
446
2,478
136
979
1,943
1,923
3,236
126
1,284
21
426
640
740
3,478
126
1,382
20
470
697
783
3,632,
128
1,461
22
498
700
822
16,614
2,054
4,736
152
3,111
3,660
2,901
17,350
2,015
4,894
150
3,221
3,999
3,071
17.973
2,016
5,085
144
3,307
4,170
3,250
1,893
232
734
8
129
391
399
1,959
213
749
9
133
425
430
1,999
201
772
11
138
415
463
2,384
431
659
1
244
533
516
2,486
395
679
1
270
597
544
2,566
363
702
286
640
574
53
54
55
56
57
58
59
7,370
11,450
5,260
2,171
3,088
7,541
11,655
5,183
2,242
2,941
8,315
12,621
6,267
2,372
3,895
8,670
13,096
6,754
2,540
4,214
9,008
13,462
6,771
2,669
4,102
3,453
5,563
2,852
986
1,865
3,645
5,891
3,191
1,053
2,138
3,768 15,240
21,410
6,139
3,244 12,344
4,398
1,091
2,153 ! 7,946
15,922
22,024
13,507
4,619
8,888
16,415
22,866
13,795
4,769
9,026
2,098
3,067
1,700
645
1,055
2,181
3,206
1,852
676
1,176
2,288
3,358
1,927
724
1,203
2,019
2,895
1,490
579
911
2,140
2,975
1,616
579
1,037
2,181
3,116
1,638
584
1,054
60
61
62
63
64
25,587 27,915
518
546
943
973
172
180
4,499
4,933
830
870
494
473
684
815
317
330
9,617
8,739
1,801 > 1,913
642
676
937
833
21
22
1,010
1,063
3,887
4,291
217
256
29,058
533
987
175
4,936
851
411
848
340
10,611
2,002
701
997
23
1,085
4,277
280
29,690
676
1,204
238
4,159
888
418
943
108
11,235
2,068
1,134
880
51
1,148
4,270
270
32,593
687
1,236
247
4,650
930
446
1,128
123
12,358
2,203
1,207
980
57
1,196
4,805
340
34,143
681
1,295
241
4,749
920
391
1,131
127
13,374
2,310
1,267
1,060
65
1,221
4,949
360
•11,871
367
535
90
2,050
384
172
353
41
4,565
769
465
450
9
554
1,019
48
13,091
378
552
94
2,279
404
181
448
47
5,051
829
504
526
10
581
1,149
58
14,017
380
579
93
2,352
414
169
486
51
5,603
863
549
589
11
597
1,216
66
47,022
1,377;
2,336
396
7,722
1,747
861
1,273
361
16,940
3,409
1,988
1,616
53
2,059
4,694
191
51,533
1,427
2,379
411
8,620
1,793
934
1,522
400
18,723
3,668
2,163
1,818
61
2,164
5,217
233
54,585
1,456
2,452
402
8,786
1,814
828
1,681
418
20,597
3,886
2,314
2,018
69
2,209
5,403
250
6,336
152
335
65
1,071
233
117
141
28
2,388
499
312
220
4
250
497
25
6,928
156
337
67
1,192
241
134
162
42
2,618
533
336
257
4
264
554
30
7,418
164
350
66
1,242
241
116
182
42
2,899
560
365
298
5
270
585
33
6,040
130
327
62
1,097
221
189
118
24
2,144
371
148
159
3
255
767
28
6,647
133
327
64
1,225
223
206
143
27
2,385
400
157
180
3
268
871
35
7,047
136
341
62
1,276
234
185
145
28
2,627
413
161
204
3
277
918
36
65
66
67
68
69
70
71
72
73
74
75
76
77
78
79
80
81
15,961
1,894
408
13,658
18,020
2,042
431
15,547
17,289
2,999
592
13,699
18,494
3,210
615
14,669
19,523
3,324
648
15,551
7,894
884
174
6,836
8,505
950
186
7,369
9,018
990
183
7,846
32,309
5,875
2,125
24,309
34,704
6,295
2,219
26,190
36,670
6,644
2,323
27,703
4,758
625
107
4,026
5,075
669
113
4,293
5,356
700
112
4,543
4,980
870
585
3,525
5,302
921
601
3,780
5,605
976
627
4,002
82
83
84
85
40,510 40,048
8,095
7,965
1,424
1,452
52
49
788
668
766
793
1,304
1,335
2,032
2,136
122
119
1
0
1,404
1,446
72
96
32,544 31,953
407
405
1,182 • 1,241
1,814
1,918
4,510
4,456
5,011
5,092
1,145
1,089
652
630
16,253 15,716
673
686
566
593
230
230.
17,203
2,023
420
14,761
~N 1
54 • August 1992
SURVEY OF CURRENT BUSINESS
Table 3—Personal Income by Major Source
[Millions
Missouri
Minnesota
South Dakota
North Dakota
Nebraska
ItGm
Line
1989
1990
1991
1989
1990
1991
1989
1990
1991
1989
1991
1990
1989
1990
1991
Income by Place of Residence
1
2
3
Total personal income (lines 6-11)
Nonfarm personal income
Farm income (line 17) 2
77,366
75,100
2,266
82,039
79,865
2,174
84,769
83,123
1,646
84,544
83,693
851
88,817
88,061
756
92,470
91 ,771
699
25,213
23,486
1,727
27,218
25,200
2,018
28,220
26,380
1,840
8,839
8,354
485
9,625
8,897
727
9,903
9,294
609
9,780
8,869
911
10,806
9,587
1,219
11,303
10,164
1,139
4
5
Population (thousands) 3
Per capita personal income (dollars)4
4,338
17,834
4,390
18,689
4,432
19,125
5,096
16,591
5,127
17,324
5,158
17,928
1,575
16,009
1 ,580
17,222
1,593
17,718
646
13,675
637
15,118
635
15,605
697
14,037
696
15,524
703
16,071
58,692
4,339
62,220
4,642
64,092
4,997
6,181
434
6,740
460
6,891
503
-342
-367
-388
-221
-216
-236
53,994
13,061
10,312
57,165
13,659
11,214
58,670
13,820
12,279
66,790
4,551
-2,937
59,302
17,478
15,691
20,787
1,569
-425
65,317
4,308
-2,883
58,127
17,352
13,337
20,105
1,444
-413
62,335
4,109
-2,739
55,486
16,643
12,415
18,596
1,341
-359
16,913
4,735
3,564
18,294
5,041
3,883
18,831
5,152
4,237
5,526
1,698
1,615
6,063
1,807
1,754
6,152
1,854
1,897
6,772
434
9
6,347
1,830
1,602
7,568
468
7
7,107
1,968
1,731
7,900
516
4
7,388
2,027
1,888 .
47,248
4,695
6,749
2,037
4,712
50,293
5,025
6,901
1,921
4,981
52,280
5,424
6,387
1,397
4,990
50,163
5,046
7,126
700
6,425
52,601
5,371
7.346
591
6,755
53,777
5,692
7,321
539
6,782
13,778
1,314
3,503
1,490
2,013
14,818
1,438
3,849
1,760
2,089
15,537
1,555
3,695
1,587
2,108
,4,644
400
1,137
401
736
4,927
431
1,382
635
746
5,171
468
1,252
520
732
4,578
453
1,741
825
917
4,981
505
2,082
1,125
957
5,331
557
2,011
1,047
964
2,266
56,426
48,305
254
238
16
308
0
6
242
59
3,378
2,174
60,046
51,208
291
270
20
334
0
4
267
63
3,513
1,646
62,446
53,142
303
284
19
344
0
8
278
57
3,405
851
61,483
52,916
267
254
13
213
68
-2
49
99
3,740
756
64,562
55,370
299
286
14
222
72
-2
51
102
3,766
699
66,090
56,399
318
306
12
223
78
7
40
97
3,584
1,727
16,869
13,587
129
125
3
42
3
10
3
26
921
2,018
18,087
14,521
149
145
4
43
3
10
2
28
981
1,840
18,947
15,131
157
154
4
48
3
15
2
28
992
485
5,696
4,358
41
40
1
143
58
72
0
12
328
727
6,013
4,623
47
46
1
157
58
87
0
12
347
609
6,281
4,822
49
48
1
159
60
87
0
13
347
911
5,861
4,598
51
47
3
95
1
2
72
20
333
1,219
6,349
5,009
59
55
4
94
1
3
69
22
372
1,139
6,761
5,323
62
58
4
96
1
3
71
21
378
13,450
5,377
1,493
50
52
1,543
1,365
352
92
0
382
48
8,073
584
152
230
1,218
3,175
803
170
225
255
1,085
177
13,900
5,715
1,558
48
56
1,647
1,477
368
96
0
411
54
8,185
556
153
236
1,244
3,061
890
165
215
264
1,211
190
14,317
5,999
1,656
56
60
1,705
1,538
398
104
0
427
55
8,318
533
154
231
1,292
3,022
942
169
189
254
1,309
225
13,719
5,663
1,458
12
337
452
1,245
1,461
61
0
388
248
8,056
255
277
416
879
957
1,235
1,869
1,289
317
415
148
13,947
5,842
1,509
(D)
334
416
1,331
1,505
66
(D)
419
251
8,105
265
292
437
1,188
976
902
1,940
1,193
337
419
156
13,889
6,032
1,619
(D)
342
431
1,343
1,535
67
(D)
436
247
7,857
261
293
421
1,192
973
901
1,729
1,194
318
409
166
2,537
1,255
700
S
49
229
84
(D)
(°)
145
11
1,281
46
71
66
150
340
280
51
82
65
112
18
2,659
1,295
708
(D)
31
50
244
86
4
(D)
156
11
1,364
48
76
68
161
374
279
54
94
72
120
18
2,763
1,377
776
(D)
33
54
250
91
4
(D)
154
12
1,387
53
74
68
167
366
290
59
96
70
125
20
401
186
99
8
6
2
45
4
17
460
200
110
3
9
2
51
4
15
707
295
170
(D)
28
8
52
3
215
12
7
1
27
86
20
18
18
16
3
8
427
187
100
3
8
2
48
4
17
(D)
5
(D)
240
13
9
1
30
91
23
25
20
16
3
9
14
12
1
30
97
29
26
22
16
3
9
32
(D)
413
57
5
12
33
105
59
4
28
23
49
38
777
316
177
(D)
28
9
54
4
0
0
43
(D)
461
59
6
14
38
119
67
4
31
25
54
46
828
332
188
(D)
32
11
58
4
0
0
38
(D)
496
62
6
15
39
136
66
4
32
28
60
48
Derivation of Total Personal Income
6
7
8
9
10
11
Earnings by place of work (line 12-16 or 17-85)
Less: Personal contributions for social insurance5
Plus: Adjustment for residence6
Equ3ls' Net earnings by place of residence
Plus: Dividends, interest, and rent7
Plus' Transfer payments8 ..
12
13
14
15
16
Components of earnings:
Wages and salaries
Other labor income
Proprietors' income9
Farm
Nonfarm9
Earnings by Place of Work
Earnings by Industry
17
18
19
20
21
22
23
24
25
26
27
28
Farm
Nonfarm
Private
Agricultural services, forestry, fisheries, and other10
Agricultural services
Forestry, fisheries, and other10
Mining
Coal mining
Oil and gas extraction
Metal mining .. .,
Nonmetallic minerals, except fuels
Construction
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
51
52
Manufacturing
Nondurable goods
Food and kindred products
Textile mill products
Apparel and other textile products
Paper and allied products
Printing and publishing
Chemicals and allied products
Petroleum and coal products
Tobacco products .
Rubber and miscellaneous plastics products
Leather and leather products
Durable goods
Lumber and wood products
Furniture and fixtures
Primary metal industries
Fabricated metal products
Machinery and computer equipment
Electric equipment, except computer equipment
Transportation equipment excluding motor vehicles
Motor vehicles and equipment
Stone clay, and glass products
Instruments and related products
Miscellaneous manufacturing industries
53
54
55
56
57
58
59
Transportation and public utilities
Railroad transportation
Trucking and warehousing
Water transportation
Other transportation 1 1
Communications
Electric gas and sanitary services
4,037
322
921
42
1,310
727
714
4,244
332
948
40
1,415
742
767
4,475
353
975
39
1,492
808
808
5,580
438
1,499
99
1,231
1,425
888
5,874
446
1,559
98
1,192
1,655
925
6,033
457
1,633
91
1,173
1,714
964
1,684
528
561
2
112
387
94
1,722
526
599
1
116
379
101
1,787
530
628
1
118
384
125
581
86
150
0
43
105
197
600
87
151
0
47
108
206
624
93
154
0
50
112
215
455
17
210
1
43
92
92
465
17
210
1
47
93
97
489
18
222
1
51
96
101
60
61
62
63
64
Wholesale trade
Retail trade
Finance insurance and real estate
Depository and nondepository credit institutions
Other finance, insurance, and real estate12
4,335
5,818
3,615
1,114
2,501
4,518
5,986
4,006
1,184
2,822
4,721
6,155
4,204
1,236
2,968
4,501
6,338
3,712
1,329
2,383
4,619
6,435
4,055
1,418
2,637
4,719
6,629
4,008
1,418
2,590
1,336 '
1,856
1,194
388
807
1,462
1,912
1,287
400
887
1,471
2,008
1,301
41S
882
516
671
289
143
146
542
687
310
146
165
550
723
318
149
169
434
765
343
200
143
458
823
381
217
165
486
879
399
239
160
65
66
67
68
69
70
71
72
73
74
75
76
77
78
79
80
81
Services
Hotels and other lodging places
Personal services
Private households
Business services
Auto repair services and parking
Miscellaneous repair services
Amusement and recreation services
Motion pictures
Health services
Legal services
Educational services
Social services12
Museums botanical zoological gardens
Membership organizations
Engineering and management services 13
Miscellaneous services
13,110
405
669
74
2,077
492
200
422
85
4,517
998
503
640
25
573
1,371
58
14,415
418
689
78
2,352
506
217
506
98
4,989
1,083
572
715
28
607
1,481
76
15,218
425
698
76
2,339
502
193
578
104
5,481
1,163
596
786
32
609
1,554
82
14,845
483
638
130
2,600
544
209
427
198
5,184
1,093
777
359
15
679
1,449
59
16,152
500
655
136
2,842
563
228
503
207
5,706
1,177
832
397
17
707
1,616
67
16,998
495
679
133
2,871
571
206
556
215
6,266
1,252
903
434
21
716
1,607
74
3,889
85
202
36
668
162
89
96
15
1,385
299
158
123
c
4,605
93
215
37
814
169
78
124
16
1,715
336
187
151
6
169
478
18
1,388
50
87
13
98
43
27
32
4
687
70
31
55
1
69
118
4
1,507
51
86
14
109
43
28
38
4
757
73
33
64
1
72
129
4
1,592
55
87
13
111
45
23
37
5
814
75
38
If.
1,415
73
78
15
112
52
30
37
634
79
59
61
1,578
79
79
15
131
53
31
52
6
713
85
61
67
156
394
15
4,305
89
206
37
769
164
89
118
17
1,554
316
171
137
6
164
449
18
7t
132
76
99
81
11£
8,121
1,092
172
6,858
8,838
1,188
189
7,461
9,304
1,264
190
7,849
8,567
2,196
472
5,899
9,192
2,346
499
6,347
9,692
2,482
514
6,695
3,282
510
380
2,393
3,567
546
393
2,627
3,816
563
424
2,829
1,338
268
242
828
1,390
284
246
860
1,460
296
267
896
1,263
314
168
781
1,340
340
177
822
82
83
84
85
Government and government enterprises
Federal civilian
Military
State and local
See footnotes at end of table.
(D) '
6
n
(
°l
SI
c
n0
1,707
87
82
15
134
53
28
58
7
795
87
64 I
71
2
91
129
3
1,438
361
190
888
SURVEY OF CURRENT BUSINESS
August 1992 • 55
and Earnings by Industry1,1989-91—Continued
of dollars]
Southeast
Alabama
Florida
Arkansas
Kentucky
Georgia
Louisiana
Line
1989
1990
1991
1989
1990
1991
1989
1990
1991
1989
1990
1991
1989
1990
1991
1989
1990
1991
1989
1990
1991
1
2
3
917,513
905,872
11,641
981,602
970,365
11,237
1,024,552
1,011,646
12,906
56,138
55,264
60,208
59,321
30,788
29,514
1,273
32,967
31,706
1,261
34,698
33,209
1,489
226,798
224,063
2,735
243,040
240,696
2,344
252,146
249,341
2,805
103,608
102,297
1,311
110,722
109,568
1,153
115,473
113,976
1,498
51,404
50,359
1,045
55,219
54,200
1,019
58,027
57,011
1,016
60,131
59,525
63,970
63,299
886
63,458
62,300
1,158
56,230
55,678
874
552
606
671
58,734
15,622
59,465
16,507
60,254
17,004
4,030
13,929
4,046
14,880
4,089
15,518
2,346
13,121
2,353
14,008
2,372
14,629
12,638
17,946
13,045
18,632
13,277
18,992
6,411
16,161
6,504
17,024
6,623
17,436
3,677
13,979
3,690
14,965
3,713
15,626
4,253
13,221
4,211
14,279
4,252
15.046
4
646,848
40,561
4,146
610,433
166,015
141,066
688,177
43,075
4,505
649,607
176,676
155,319
713,282
45,961
4,882
672,203
177,636
174,713
40,561
2,623
43,182
2,783
45,374
2,993
21,673
1,664
23,074
1,780
24,399
1,924
138,992
8,513
148,510
9,026
153,219
9,620
79,529
4,820
84,478
5,134
87,505
5,450
36,519
2,212
39,069
2,344
40,581
2,508
40,170
2,643
43,077
2,852
45,413
3,083
647
687
707
-33
-63
-91
-136
-138
-101
-77
-52
-20
216
212
194
-258
-282
-305
38,585
7,917
9,636
41,086
8,355
10,766
43,088
8,535
11,835
19,976
4,813
5,999
21,210
5,273
6,484
22,384
5,159
7,155
130,343
61,175
35,280
139,345
64,773
38,921
143,498
65,079
43,569
74,631
15,775
13,201
79,292
16,843
14,586
82,035
16,759
16,679
34,524
8,082
8,798
36,936
8,632
9,651
38,267
8,745
11,016
37,269
8,972
9,989
39,944
9,302
10,885
42,025
9,537
12,408
6
7
8
9
10
11
526,747
51,270
68,831
9,416
59,415
560,463
55,596
72,117
8,791
63,326
578,518
59,590 !
75,175
10,507
64,667
32,872
3,417
4,272
35,022
3,686
4,473
36,561
3,979
4,834
1,029
3,804
16,434
1,750
3,490
1,088
2,402
17,649
1,908
3,517
1,058
2,459
18,572
2,073
3,753
1,291
2,463
114,510
10,661
13,821
2,043
11,778
122,560
11,605
14,345
1,581
12,764
125,976
12,403
14,840
2,054
12,786
65,636
6,405
7,487
1,113
6,374
69,699
7,017
7,763
28,407
3,113
4,999
30,482
3,410
5,177
31,689
3,644
5,249
31,912
3,312
4,946
34,441
3,653
4,983
36,345
3,988
5,080
893
852
854
434
475
543
6,826
71,611
7,506
8,388
1,286
7,102
4,106
4,325
4,395
4,513
4,508
4,537
11,641
635,207
518,784
3,697
3,219
11,237
676,940
551,234
4,116
3,581
12,906
700,376
567,000
4,341
3,815
1,158
44,216
35,171
1,273
20,400
17,028
1,261
21,813
18,163
1,489
22,910
18,963
1,498
86,007
70,831
1,045
35,474
29,425
1,019
38,050
31,554
1,016
39,565
32,516
552
606
671
39,618
32,600
42,472
34,847
44,742
36,504
478
535
527
1,516
1,394
2,076
12
13
12
2,154
2,222
1,228
40,165
50
1
71
1,993
1,287
42,876
397
339
58
277
0
5
0
271
1,639
1,512
1,245
41,395
380
320
60
304
0
-6
1
308
223
159
64
105
349
298
51
292
1
-4
1
295
210
146
64
112
117
308
(D)
41
(D)
246
195
133
62
144
116
261
(D)
-17
(D)
256
235
231
4
8,181
4,038
2,811
107
270
(D)
-16
(D)
265
224
220
4
8,268
4,239
2,630
168
149
20
128
(D)
M
(D)
36
206
203
3
7,712
3,911
2,412
159
136
23
132
(D)
(D)
(D)
37
2,805
150.414
123,516
1,503
1,386
1.153
83,325
69,006
141
120
21
126
(D)
M
H
35
2,344
146,166
120,904
1,407
1,292
1,311
78,218
64,978
229
175
55
583
411
(D)
2,735
136,257
113,420
1,289
1,182
8
62
9
67
13
71
125,823
63,172
9,215
11,663
6,479
6,902
7,446
11,821
1,212
2,397
5,597
130,285
65,445
9,733
11,603
6,439
7,250
7,775
12,758
1,293
2,329
5,825
133,173
67,783 .
10,293
11,824
6,630
7,562
7,998
13,391
1,385
2,318
5,954
755
755
3,517
3,719
874
886
39,687
31,799
42,296
33,849
189
140
49
507
376
(D)
(D)
76
216
160
57
584
416
(D)
(D)
80
M
87
937
1,521
1,408
45
2
66
50
1
76
2,243
2,318
2,158
2,332
2,351
1,144
1,298
1,244
9,907
9,843
8,852
4,564
4,805
4,305
2,151
2,222
2,185
2,579
2,848
3,049
9,830
4,611
10,161
4,744
10,442
4,923
5,253
2,421
15,653
5,943
1,384
75
501
518
81
513
514
106
535
522
15,557
9,075
1,791
2,460
6,598
4,014
(D)
157
529
279
208
(D)
0
338
71
15.225
8,719
1,624
2,421
6,284
3,823
(D)
141
491
269
205
(D)
0
330
73
14,874
8,451
1,584
2,401
5,880
3,602
899
(D)
141
464
247
202
(D)
0
309
73
15,516
5,797
1,363
8,822
3,807
717
853
800
15,161
5,572
1,292
8,788
3,633
677
830
751
961
343
504
(D)
(D)
610
(D)
5,736
2,767
1,071
8,276
3,458
629
827
765
919
333
461
(D)
(D)
610
(D)
. 5,500
2,606
1,000
935
918
928
1,741
1,818
1,853
1,163
1,053
1,244
1,118
1,299
1,164
495
75
152
531
293
903
59
27
512
42
662
37
163
429
26
710
38
171
450
25
743
36
173
453
28
633
185
449
319
561
719
198
259
455
28
475
72
146
528
283
864
58
34
508
43
571
183
423
309
532
653
196
270
463
33
459
61
137
508
297
840
58
31
476
39
536
180
424
285
509
591
194
263
446
30
1,439
1,556
1,623
1,001
356
525
(D)
(D)
602
(D)
629
1
71
0
678
0
83
1
747
0
97
1
437
441
428
62,652
6,383
4,316
5,135
6,978
10,308
10,207
6,834
4,117
4,037
2,893
1,446
64,840
6,484
4,389
5,354
7,331
10,877
10,367
7,172
4,315
4,069
3,050
1,432
65,390
6,424
4,263
5,218
7,408
11,040
10,476
7,342
4,594
3,953
3,202
1,470
5,219
5,418
5,520
2,832
2,894
2,969
9,590
9,719
9,710
6,422
6,506
6,482
4,817
5,155
5,015
2,277
681
203
956
628
760
552
598
366
243
95
136
703
207
987
655
806
569
663
360
234
96
137
713
209
964
657
861
602
680
360
235
103
136
485
182
257
398
429
477
140
132
109
150
74
491
198
275
422
426
470
143
137
116
144
72
507
203
588
303
166
887
550
301
177
900
505
284
178
876
321
86
681
554
1,567
2,021
2,141
747
207
541
563
824
315
92
705
538
1,486
1,952
2,188
800
215
567
576
804
301
92
677
497
1,467
1,890
2,168
1,046
1,201
1,024
1,015
1,025
1,005
1,029
167
692
182
664
172
588
1,038
1,104
1,160
222
215
218
799
221
543
562
769
973
969
656
537
243
150
544
534
273
154
123
303
16
92
380
310
231
605
132
133
28
48
312
15
100
425
372
225
661
134
141
27
48
315
14
98
483
418
229
671
139
135
31
51
45,403
2,791
11,758
1,750
9,017
11,039
9,048
48,423
2,798
12,186
1,909
9,770
12,256
9,504
50,483
2,817
12,619
2,044
10,011
12,847
10,144
2,794
2,925
3,067
1,831
1,949
2,013
8,736
9,464
9,817
6,743
7,524
2,973
3,474
3,657
3,797
199
797
202
839
H
879
777
H
237
736
10
113
336
398
228
790
8
113
369
441
212
802
8
120
394
478
268
831
743
207
863
(D)
M
914
840
99
489
474
641
184
651
720
461
575
883
182
689
771
480
606
929
177
703
785
524
626
983
40,896
70,808
34,372
13,545
20,827
42,539
73,259
36,362
14,142
22,220
43,761
75,079
36,061
14,458
21,603
2,316
4,033
1,748
2,439
4,149
1,890
2,480
4,327
1,897
1,115
2,396
1,161
2,494
1,211
2,665
778
805
1,112
1,092
932
393
539
2,569
4,406
2,049
740
934
378
556
2,440
4,227
2,039
1,009
909
375
534
148,677
6,870
5,961
2,791
22,729
4,891
2,659
4,625
165,106
7,136
6,138
2,931
25,794
5,018
2,898
5,485
175,754
7,103
6,356
2.885
26,484
5,047
2,536
5,688
8,224
9,152
9,794
4,115
4,535
4,866
194
322
179
202
334
186
200
345
183
1,008
1,127
1,172
271
150
143
31
286
173
160
35
282
159
168
38
139
221
65
567
180
77
89
17
140
225
67
656
180
89
104
19
146
233
66
686
184
78
109
20
2,847
3,169
3,578
1,751
1,962
2,176
644
228
175
2
378
705
233
187
2
390
111
246
211
2
399
1,531
1,809
1,868
122
153
167
275
99
142
1
187
287
17
292
101
154
1
193
330
21
311
104
178
1
198
357
21
771
855
925
48,383
11,389
4,926
3,375
54,422
12,412
5,266
3,851
60,730
13,137
5,766
4,359
150
166
178
5,936
21,521
1,699
6,215
24,439
2,080
•6,335
25,935
2,292
116,423
24,566
17,031
74,826
125,705
26,444
17,394
81,867
133,377
27,908
18,372
87,097
7,888
2,116
8,446
2,257
9,045
2,357
284,
432
454
463
151
140
120
139
74
3,372
3,650
3,947
702
301
748
316
2,647
2,882
728
741
769
664
284
5,044
5,448
5,919
2,424
536
550
319
161
947
80
714
262
87
114
925
85
803
284
93
112
7,806
2,621
2,784
315
332
345
386
382
382
1,823
1,790
1,841
1,528
1,572
1,634
274
830
80
396
445
597
269
904
91
450
461
609
890
82
857
'•:
297
";ioi
1,003
2,461
2,585
407
471
527
66
70
74
2,165
2,467
1,558
2,531
2,641
1,699
2,515
2,782
1,808
1,847
1,850
1,066
2,112
2,284
1,104
2,128
2,434
1,154
9,091
17,866
9,777
3,619
6,158
9,567
18,501
10,303
3,758
6,545
9,750
18,730
9,888
3,748
6,139
7,542
8,250
5,173
1,768
3,405
7,715
8,414
5,421
1,798
3,623
7,948
8,557
5,590
1,872
3,718
1,898
3,988
1,429
2,012
4,175
1,548
2,096
4,351
1,526
2,348
4,112
1,958
658
771
693
855
725
801
812
813
818
1,147
1,226
1,231
41,323
2,669
1,270
46,042
2,760
1,315
49,015
2,724
1,369
17,192
19,217
20,395
7,337
8,164
8,812
9,978
10,900
11,494
826
629
323
847
651
339
863
647
336
221
398
100
225
421
98
386
375
215
393
373
220
398
387
216
3,056
3,516
3,533
1,014
1,059
1,496
1,695
1,703
625
251
396
133
633
274
485
152
620
261
517
148
211
387
97
902
272
129
222
35
274
138
264
40
295
116
265
41
255
209
214
42
268
237
248
44
272
191
250
51
4,999
1,443
5,649
1,596
6,315
1,665
3,567
4,020
4,329
1,361
747
388
14
728
620
251
222
7
348
789
34
3,851
1,303
673
361
13
715
577
234
201
6
341
740
49
3,490
1,243
623
320
12
690
425
185
6
344
444
211
6
354
458
240
6
361
1,042
1,194
1,206
51
58
65
7,625
1,237
8,237
1,299
693
742
733
5,513
1,295
6,328
1,326
' 710
2,395
6,640
1,357
676
2,065
627
2,472
206
216
263
13,093
3,501
1,011
14,808
3,808
1,083
1,130
16,461
3,997
1,166
1,276
35
41
1,434
6,191
1,538
7,015
1,545
7,431
2,692
3,088
3,343
685
832
913
175
225
271
990
32
22,837
3,800
3,006
16,031
25,262
4.199
3,162
17,901
26,898
4,433
3,352
19,114
13,240
3,012
1,469
8,758
14,318
3,279
1,459
9,580
15,176
3,482
1,596
10,098
3,141
533
223
176
6
326
634
43
6,049
1,200
6,496
1,314
7,050
1,397
7,018
1,148
794
748
755
750
111
850
4,055
4,433
4,897
5,120
5,610
6,088
5
12
13
14
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
42
43
44
45
46
47
48
49
50
51
52
53
54
55
56
57
58
59
60
61
62
63
64
65
66
67
68
69
70
71
72
73
74
75
76
77
78
79
80
81
82
83
84
85
SURVEY OF CURRENT BUSINESS
August 1992
Table 3.—Personal Income by Major Source
[Millions
Mississippi
I torn
Line
North Carolina
1989
1990
1991
30,800
30,122
678
32,714
32,063
651
34,545
33,751
794
102,015
100,208
1,807
109,094
107,092
2,002
2,574
11,964
2,574
12,709
2,592
13,328
6,565
15,538
21,291
1,326
650
20,615
4,070
6,115
22,411
1,408
696
21,699
4,327
6,688
23,494
1,526
732
22,699
4,399
7,447
16,599
1,737
2,956
544
2,412
17,514
1,870
3,027
505
2,522
678
20,614
16,251
127
91
36
164
0
151
0
13
995
14
M
Tennessee
South Carolina
Virginia
1989
1990
1991
1989
1990
1991
113,536
111,417
2,119
47,962
47,572
390
52,816
52,511
305
55,055
54,640
415
72,794
72,399
395
77,612
77,213
399
81,651
81,271
380
116,013
115,471
542
122,550
122,021
529
126,237
125,742
495
6,653
16,398
6,737
16,853
3,457
13,875
3,498
15,097
3,560
15,467
4,854
14,995
4,887
15,880
4,953
16,486
6,120
18,955
6,213
19,725
6,286
20,082
78,415
4,974
83,241
5,270
85,801
5,599
-911
-908
-950
73,081
15,186
13,748
77,573
16,275
15,246
79,797
16,324
17,414
40,238
2,621
640
38,257
7,287
9,511
61 ,286
4,015
-405
39,068
2,474
605
37,200
7,251
8,365
58,805
3,736
-397
36,317
2,292
565
34,590
5,923
7,449
55,416
3,528
-361
50,977
10,644
11,173
54,160
11,082
12,370
56,321
11,355
13,975
82,744
4,921
4,080
81,903
19,849
14,261
86,998
5,168
4,424
86,254
20,762
15,534
89,266
5,456
4,768
88,578
20,574
17,085
18,221
2,024
3,249
651
2,598
63,491
6,048
8,876
1,539
7,337
67,162
6,482
9,597
1,707
7,890
68,924
6,911
9,966
1,828
8,138
30,378
2,893
3,046
302
2,744
32,618
3,157
3,293
209
3,084
33,358
3,361
3,519
322
3,197
44,331
4,470
6,614
283
6,332
46,880
4,852
7,072
276
6,797
48,719
5,253
7,315
260
7,054
69,859
6,084
6,801
405
6,397
73,266
6,468
7,264
379
6,885
74,976
6,880
7,410
347
7,063
651
21,760
17,197
143
98
45
174
0
159
0
15
1,057
794
22,700
17,945
148
107
41
170
0
154
0
16
1,017
1,807
76,608
63,657
405
357
48
158
0
-7
4
160
4,986
2,002
81,238
67,309
465
410
55
167
0
-7
3
171
5,228
2,119
83,682
69,046
493
435
58
182
0
7
2
173
4,942
390
35,928
28,397
181
131
50
54
1
-3
9
47
2,435
305
38,763
30,735
204
150
54
57
1
-3
11
49
2,877
415
39,823
31,278
206
156
51
60
1
2
10
46
2,586
395
55,021
46,781
216
201
14
264
82
7
79
95
3,318
399
58,406
49,521
252
237
16
236
80
6
53
97
3,310
380
60,906
51,705
266
252
14
210
58
12
49
92
3,243
542
82,203
61,911
355
320
35
654
544
2
9
100
6,401
529
86,469
64,809
401
362
40
684
576
2
5
101
6,193
495
88,771
65,921
415
372
43
671
556
23
4
89
5,519
14,358
6,895
1,089
426
901
743
948
1,738
37
48
821
144
7,463
525
543
613
1,311
1,110
981
421
912
447
314
285
14,869
7,150
1,099
449
919
795
971
1,848
41
41
847
140
7,720
513
549
615
1,354
1,106
994
403
1,145
427
339
275
12,259
6,055
788
818
390
586
1,038
1,192
23
691
507
22
6,204
673
446
459
576
634
1,232
1,102
295
393
307
86
12,673
6,181
852
790
388
610
1,055
1,195
29
716
519
24
6,492
675
442
477
605
687
1,334
1,181
283
393
331
83
12,835
6,330
907
797
396
659
1,060
1,204
31
711
541
23
6,505
661
414
445
613
714
1,329
1,262
320
363
297
86
5,657
393
1,059
167
1,059
2,034
944
5,981
421
1,108
185
1,103
2,162
1,002
1989
1990
1991
1989
1990
1991
Income by Place of Residence
1 Total personal income (lines 6-11)
2
Nonfarm personal income
3
Farm income (line 17)2
4
5
^~
Population (thousands) 3
Per capita personal income (dollars)4
Derivation of Total Personal Income
6
7
8
9
10
11
Earnings by place of work (line 12-16 or 17-85)
Less* Personal contributions for6 social insurance5
Plus: Adjustment for residence
Equa/s: Net earnings by place of residence
Plus: Dividends interest, 8and rent7
Plus' Transfer payments
12
13
14
15
16
Components of earnings:
Wages and salaries
Other labor income
Proprietors' income 9
Farm
Nonfarm9
Earnings by Place of Work
Earnings by Industry
17
18
19
20
21
22
23
24
25
26
27
28
Farm
Nonfarm
Private
Agricultural services, forestry, fisheries, and other 10
Agricultural services
Forestry, fisheries, and other10
Mining
Coal mining
Oil and gas extraction
Metal mining
Nonmetallic minerals, except fuels
Construction
...
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
51
52
Manufacturing
Nondurable goods
Food and kindred products
Textile mill products
Apparel and other textile products
Paper and allied products
Printing and publishing
Chemicals and allied products
Petroleum and coal products
Tobacco products
Rubber and miscellaneous plastics products
Leather and leather products
Durable goods
Lumber and wood products
Furniture and fixtures
Primary metal industries
Fabricated metal products
Machinery and computer equipment
Electric equipment, except computer equipment
Transportation equipment excluding motor vehicles
Motor vehicles and equipment
Stone clay and glass products
Instruments and related products
Miscellaneous manufacturing industries
5,475
2,159
449
130
454
300
163
316
94
0
246
8
3,316
618
487
112
353
384
542
434
113
140
51
82
5,758
2,301
480
132
455
330
165
348
107
0
277
8
3,456
641
523
115
352
379
547
503
112
146
58
80
6,017
2,475
551
132
485
336
166
391
119
0
289
7
3,543
641
543
119
347
379
533
589
108
138
64
82
22,233
12,712
1,129
4,422
1,217
789
778
2,166
27
1,188
932
64
9,521
876
1,742
381
755
2,194
1,665
141
619
573
424
150
22,853
12,966
1,172
4,367
1,181
825
814
2,489
25
1,068
959
65
9,886
922
1,747
416
821
2,361
1,671
117
643
608
431
149
23,295
13,302
1,206
4,462
1,183
834
854
2,592
25
1,086
999
64
9,993
951
1,646
426
819
2,427
1,730
147
628
606
450
163
9,915
6,355
333
2,244
592
633
269
1,558
14
(D)
704
(°)
3,561
370
88
299
451
1,007
570
117
161
290
126
81
10,257
6,517
339
2,226
577
669
304
1,636
15
(D)
741
10,508
6,714
351
2,214
574
712
315
1,767
16
3,740
372
93
321
480
1,069
594
121
189
285
135
80
3.3
368
93
320
477
1,105
599
128
178
287
154
84
13,803
6,561
1,033
435
878
708
893
1,572
37
42
813
150
7,243
519
522
578
1,247
1,140
1,044
415
740
450
300
287
53
54
55
56
57
58
59
Transportation and public utilities
Railroad transportation
Trucking and warehousing
.
Water transportation l
Other transportation ' .
Communications
Electric, gas, and sanitary services
1,423
66
508
68
110
307
364
1,477
68
515
68
117
319
391
1,530
71
532
68
122
329
408
5,027
164
1,673
33
993
1,010
1,153
5,299
161
1,705
41
1,141
1,068
1,182
5,520
161
1,757
67
1,140
1,073
1,322
2,060
125
514
67
244
462
648
2,213
121
572
67
276
506
670
2,242
118
561
71
277
511
704
3,868
285
1,402
(°)
(D)
753
215
4,127
275
1,465
(D)
(D)
829
239
4,337
267
1,518
(D)
877
266
n
5,548
372
1,029
146
1,310
1,754
936
60
61
62
63
64
Wholesale trade
.
Retail trade
Finance insurance, and real estate
Depository and nondepository credit institutions
Other finance insurance and real estate 12
1,042
2,294
926
447
479
1,091
2,346
975
448
527
1,124
2,424
989
459
530
4,925
8,283
3,372
1,491
1,880
5,070
8,532
3,646
1,625
2,021
5,207
8,730
3,664
1,684
1,980
1,647
3,919
1,578
621
956
1,779
4,189
1,648
658
990
1,773
4,279
1,670
700
970
3,703
6,080
2,750
1,012
1,738
3,877
6,344
2,903
1,065
1,837
4,046
6,595
2,978
1,096
1,882
4,493
7,974
4,268
1,747
2,522
4,587
8,239
4,524
1,864
2,661
4,715
8,319
4,377
1,883
2,495
65
66
67
68
69
70
71
72
73
74
75
76
77
78
79
80
81
Services
Hotels and other lodging places
Personal services
Private households
Business services
Auto repair services and parking
Miscellaneous repair services
Amusement and recreation services
Motion pictures
Health services
Legal services
Educational services
Social services12
Museums botanical, zoological gardens
Membership organizations
Engineering and management services 13
Miscellaneous services
3,807
109
163
118
362
145
109
52
13
1,387
327
130
95
190
561
43
4,177
109
165
122
408
148
97
60
16
1,548
349
138
107
2
196
658
53
4,526
114
173
119
399
154
105
62
17
1,758
371
144
119
2
201
726
61
14,268
468
732
359
2,311
533
321
363
73
4,420
823
929
416
15
618
1,714
172
16,050
484
762
377
2,656
552
355
445
91
5,090
913
1,011
479
18
645
1,963
210
17,013
484
801
370
2,728
541
286
466
110
5,684
980
1,099
555
19
658
2,000
231
6,608
343
288
185
897
243
174
167
27
1,752
503
209
168
4
288
1,150
210
7,510
379
297
194
1,034
256
216
206
33
1,998
554
218
200
5
301
1,359
260
7,953
392
311
192
1,044
255
168
218
29
2,265
581
231
238
5
307
1,426
291
12,778
618
645
186
1,762
427
207
435
67
4,920
711
450
196
13
521
1,571
50
14,114
677
650
194
2,010
427
224
537
75
5,448
779
492
226
15
540
1,758
61
15,159
618
668
191
2,134
426
210
570
78
6,048
837
585
254
16
552
1,907
65
19,959
786
776
323
4,593
562
280
392
119
5,119
1,142
533
431
56
846
3,887
113
21,851
798
813
339
5,060
582
301
478
122
5,730
1,267
569
497
61
882
4,215
138
23,088
812
840
333
5,082
575
259
488
119
6,319
1,350
657
552
62
916
4,573
152
4,363
824
543
2,996
4,563
869
527
3,167
4,755
914
553
3,288
12,951
1,664
2,294
8,993
13,929
1,812
2,171
9,946
14,636
1,925
2,206
10,505
7,531
1,244
1,520
4,767
8,028
1,253
1,598
5,177
8,545
1,309
1,682
5,554
8,240
2,022
457
5,760
8,884
2,236
485
6,163
9,202
2,275
496
6,430
20,292
6,363
5,117
8,812
21,660
6,742
5,349
9,568
22,850
7,181
5,718
9,951
82
83
84
85
Government and government enterprises
Federal civilian
Military
State and local
See footnotes at end of table.
n
£
August 1992 • 57
SURVEY OF CURRENT BUSINESS
and Earnings by Industry1,1989-91—Continued
of dollars]
West Virginia
Southwest
1989
Arizona
New Mexico
Oklahoma
1990
1991
22,965
22,926
39
24,531
24,449
82
25,754 384,096 411,222 433,100
25,688 379,832 406,149 428,470
66
4,265
5,073
4,630
1,807
12,712
1,790
13,704
1,801
14,301
15,220
1,044
-237
13,939
3,608
5,418
1989
1990
1991
1989
1990
1991
1989
1990
1991
56,21,4
55,478
736
59,472
58,797
676
62,166
61,540
626
20,005
19,649
355
21,352
21,004
348
22,665
22,302
363
44,990
44,058
932
47,620
46,578
1,042
25,821
16,773
3,622
15,519
3,681
16,155
3,750
16,579
1,504
13,302
1,520
14,052
1,548
14,644
3,150
14,281
3,146
15,139
3,175
15,541
16,265
1,099
-259
14,907
3,801
5,823
16,706 282,857 302,896 318,012
1,165 17,404 18,705 20,320
-287
-360
-286
-318
15,254 265,094 283,905 297,374
3,884 65,271 67,829 69,098
6,616 53,732 59,488 66,628
39,378
2,529
-116
36,734
10,865
8,615
41,383
2,605
-110
38,668
11,215
9,590
42,869
2,781
-119
39,968
11,345
10,853
14,199
985
13
13,227
3,332
3,446
15,167
1,054
17
14,130
3,461
3,761
15,998
1,148
22
14,872
3,576
4,217
31,222
2,072
313
29,463
7,538
7,989
12,318
1,381
1,521
17
1,504
13,170
1,489
1,606
58
1,549
13,566 224,750 241,046 253,657
1,568 22,848 25,224 27,540
1,572 35,259 36,625 36,815
3,287
42
4,001
3,580
1,529 31,972 32,624 33,234
32,547
2,925
3,906
549
3,357
34,178
3,124
4,081
470
3,610
35,421
3,366
4,083
425
3,658
11,425
1,136
1,637
268
1,369
12,240
1,244
1,682
253
1,429
12,946
1,356
1,696
270
1,426
39
15,181
12,536
45
43
2
1,626
1,479
115
2
29
758
82
16,183
13,339
54
51
3
1,788
1,633
123
1
30
863
4,265
66
5,073
4,630
16,640 278,593 297,822 313,382
13,604 229,908 245,807 258,375
57
1,460
1,616
1,738
1,507
55
1,359
1,629
3
100
109
109
1,758 10,572 11,347 12,128
411
1,598
385
433
9,248 10,005 10,732
129
2
588
570
620
351
28
360
343
16,971 17,717 18,122
871
736
38,642
31,641
293
286
7
539
56
-2
464
21
2,660
676
40,707
33,241
322
314
8
535
58
-2
458
22
2,651
626
42,243
34,308
359
350
9
595
60
5
509
20
2,580
355
13,843
10,081
69
66
3
525
102
265
76
81
887
348
14,818
10,765
74
71
3
596
111
320
80
85
900
25,083
15,313
Rocky Mountain
Texas
Line
1989
1990
25,402
16,189
1991
1990
1991
49,340 262,888 282,777 298,928 112,893
48,503 260,647 279,770 296,125 110,375
2,241
837
3,007
2,518
2,803
120,625
118,021
2,604
127,646
125,331
2,314
1
2
3
17,349
17,230
7,234
15,606
7,295
16,536
7,454
17,124
4
5
33,011
2,199
353
31,165
7,873
8,582
34,041 198,058 213,336 225,103
2,360 11,818 12,847 14,030
-571
370
-546
-590
32,051 185,670 199,943 210,483
7,932 43,536 45,279 46,244
9,358 33,682 37,555 42,201
82,792
5,158
80
77,715
19,549
15,629
88,574
5,554
84
83,104
20,499
17,022
93,584
6,079
84
87,589
21,023
19,034
6
7
8
9
10
11
24,037
2,450
4,735
815
3,920
25,555
2,628
4,828
914
3,914
26,580
2,841
4,620
712
3,908
156,740 169,073 178,710
16,337 18,228 19,977
24,981 26,034 26,416
2,364
1,655
2,174
23,327 23,671 24,242
65,154
6,149
11,489
2,013
9,476
70,024
6,737
11,813
2,049
9,765
74,571
7,376
11,638
1,773
9,865
12
13
14
15
16
363
15,635
11,289
78
75
3
630
117
344
78
91
894
932
30,290
24,026
134
129
6
1,655
27
1,575
3
50
1,494
1,042
31,969
25,342
151
145
7
1,765
30
1,681
2
52
1,599
2,241
837
3,007
2,803
33,204 195,817 210,329 222,300
26,206 164,159 176,460 186,572
964
161
1,068
1,140
977
878
155
1,049
6
85
91
91
7,853
8,451
1,750
9,153
201
212
227
29
8,007
1,671
7,409
8,712
44
2
30
31
202
49
199
183
1,544 11,929 12,567 13,104
2,518
80,274
64,696
494
450
44
2,563
625
1,041
570
327
4,663
2,604
85,970
69,366
559
506
53
2,659
649
1,092
569
349
5,017
2,314
91,270
73,449
595
540
55
2,642
653
1,107
528
354
5,385
17
18
19
20
21
22
23
24
25
26
27
28
1989
16,807
15,642
1990
17,055
16,580
1991
1989
2,865
. 1,215
85
(D)
45
29
126
822
14
(D)
55
21
1,651
170
15
615
243
169
82
63
21
213
44
16
2,913
1,262
89
(D)
46
27
125
859
18
(D)
61
20
1,650
178
12
600
247
175
84
65
16
217
42
16
2,840 45,581
1,283 17,307
88
3,099
137
(D)
1,097
51
27
1,043
126
2,800
868
5,388
1,936
19
6
(D)
1,650
65
152
20
1,557 28,274
1,073
182
14
467
1,464
546
3,027
232
5,836
161
5,945
82
4,884
58
1,062
12
1,598
209
2,175
45
745
16
47,753
18,368
3,269
134
1,094
1,072
2,926
5,908
2,057
4
1,733
171
29,385
1,071
507
1,533
3,386
6,189
6,132
5,023
1,006
1,609
2,260
669
49,589
19,499
3,413
142
1,167
1,159
3,017
6,309
2,271
4
1,823
195
30,090
1,040
505
1,587
3,606
6,632
6,196
4,849
1,042
1,557
2,351
725
6,255
1,150
256
13
75
61
455
144
4
0
136
7
5,105
174
64
251
251
873
1,449
1,109
50
201
584
100
6,335
1,178
264
16
74
61
457
149
5
0
143
9
5,158
161
67
220
281
728
1,531
1,212
76
194
583
104
6,363
1,210
274
16
73
66
442
166
4
0
158
10
5,153
150
65
216
299
694
1,555
1,246
84
160
574
109
1,140
293
79
17
29
4
91
19
38
0
11
6
847
56
12
55
29
92
187
116
65
59
136
40
1,187
301
83
17
29
4
94
18
35
0
13
7
886
57
12
58
31
88
209
119
72
61
133
46
1,202
314
85
19
30
4
98
19
40
0
13
7
887
50
12
63
33
90
233
104
55
62
136
51
5,037
1,614
323
18
109
127
272
113
262
0
383
6
3,423
81
47
150
481
963
341
384
426
295
151
104
5,152
1,703
353
17
101
133
278
125
284
0
403
8
3,449
80
55
159
562
1,041
295
366
364
295
156
78
5,366
1,803
378
15
103
142
287
145
315
0
409
9
3,563
79
51
162
595
1,070
280
367
408
302
164
85
33,150
14,250
2,441
88
884
851
1,983
5,112
1,632
6
1,119
133
18,900
761
343
1,009
2,267
3,908
3,968
3,275
520
1,043
1,304
501
35,080
15,187
2,569
84
889
874
2,097
5,617
1,732
3
1,175
147
19,893
773
373
1,096
2,513
4,332
4,097
3,326
493
1,060
1,389
441
36,658
16,171
2,677
93
962
946
2,190
5,979
1,911
3
1,242
168
20,486
762
378
1,147
2,679
4,777
4,128
, 3,131
495
1,033
1,477
480
12,417
4,016
1,477
13
152
240
1,014
622
170
1
281
48
8,401
1,121
147
397
618
1,825
1,254
1,382
128
438
848
243
12,904
4,287
1,549
15
153
265
1,077
712
170
0
294
52
8,617
1,103
159
416
662
1,986
1,074
1,426
139
460
941
251
13,110
4,579
1,653
17
158
287
1,125
806
195
0
282
54
8,531
1,087
168
408
684
1,748
1,103
1,387
160
470
1,038
278
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
51
52
1,279
184
267
29
64
248
487
1,348
186
284
36
64
259
519
1,399
191
297
31
69
272
538
21,737
1,141
4,147
488
5,336
4,683
5,942
23,543
1,076
4,369
499
6,052
5,264
6,282
24,833
1,017
4,619
545
6,534
5,508
6,609
2,417
99
480
3
618
605
613
2,660
95
507
3
751
667
636
2,746
92
541
3
795
677
637
1,022
93
238
0
121
225
344
1,086
89
254
0
148
230
365
1,111
86
263
0
149
236
376
2,396
99
470
4
747
512
564
2,607
94
495
4
851
542
621
2,730
92
518
5
879
562
674
15,902
850
2,959
481
3,850
3,341
4,421
17,189
798
3,113
492
4,302
3,826
4,660
18,246
747
3,297
536
4,711
4,033
4,922
6,835
669
1,579
6
1,417
1,872
1,292
7,300
' 654
1,670
7
1,542
2,049
1,378
7,669
648
1,746
7
1,607
2,192
1,469
53
54
55
56
57
58
59
776
1,614
484
255
230
801
1,649
530
264
266
843
1,696
502
275
228
18,423
29,816
18,002
6,317
11,684
19,538
31,014
18,910
6,392
12,519
20,745
32,498
19,602
6,433
13,169
2,169
4,563
2,686
1,098
1,589
2,265
4,697
2,787
1,110
1,676
2,380
4,877
2,782
1,111
1,671
610
1,595
563
266
297
641
1,680
591
268
323
681
1,777
578
265
313
1,728
3,322
1,509
618
890
1,772
3,379
1,597
626
971
1,852
3,535
1,660
650
1,010
13,916
20,336
13,244
4,335
8,909
14,860
21,258
13,936
4,387
9,548
15,832
22,309
14,582
4,407
10,175
4,804
8,609
4,596
1,634
2,962
5,142
9,083
4,874
1,664
3,211
5,440
9,666
5,138
1,744
3,394
60
61
62
63
64
3,089
121
155
48
260
82
75
86
10
1,465
245
66
83
2
114
260
17
3,393
124
155
49
290
86
84
103
11
1,600
270
70
99
2
119
311
20
3,638
128
160
48
304
85
74
102
12
1,777
287
79
127
2
122
309
22
67,346
2,813
2,844
1,001
12,257
2,416
1,105
1,800
370
20,327
6,907
1,834
1,428
64
2,634
9,123
424
74,369
2,876
2,884
1,050
14,027
2,478
1,216
2,096
414
22,645
7,397
1,925
1,655
69
2,751
10,383
504
79,120
2,873
3,003
1,037
14,536
2,545
1,168
2,189
441
25,146
7,751
2,029
1,917
77
2,788
11,060
562
10,058
768
391
87
1,621
418
168
320
56
3,246
825
210
282
13
400
1,188
65
10,989
771
405
91
1,813
430
186
377
60
3,562
903
223
328
15
424
1,321
80
11,625
769
426
90
1,944
434
170
401
55
3,936
920
248
386
17
438
1,303
88
3,671
198
126
46
545
121
51
87
18
955
246
74
88
2
148
936
29
4,011
206
126
48
638
123
53
101
19
1,051
260
80
105
2
156
1,007
34
4,338
213
132
48
693
127
49
106
21
1,168
278
87
126
2
163
1,086
39
6,752
166
339
94
1,192
313
114
159
31
2,202
648
187
184
4
379
709
32
7,319
170
342
97
1,299
315
133
190
32
2,433
677
193
209
4
387
803
36
7,609
163
354
95
1,315
320
112
188
31
2,624
699
204
258
6
375
833
34
46,866
1,682
1,988
775
8,900
1,564
772
1,234
264
13,923
5,188
1,363
875
45
1,707
6,290
298
52,050
1,729
2,011
814
10,277
1,611
844
1,428
303
15,599
5,557
1,429
1,013
48
1,783
7,251
353
55,548
1,726
2,091
804
10,584
1,665
836
1,494
335
17,418
5,854
1,490
1,146
53
1,812
7,838
402
19,714
1,048
802
123
3,215
718
379
797
180
5,796
1,545
631
487
15
1,100
' 2,791
87
21,828
1,120
815
128
3,625
750
418
977
194
6,451
1,642
669
539
18
1,141
3,238
103
23,804
1,156
850
127
4,258
780
374
1,004
220
7,164
1,702
720
618
21
1,158
3,529
125
65
66
67
68
69
70
71
72
73
74
75
76
77
78
79
80
81
2,645
507
70
2,068
2,844
545
75
2,225
3,036
588
79
2,369
48,685
10,258
4,646
33,781
52,015
10,820
4,740
36,454
55,007
11,324
4,840
38,842
7,001
1,334
618
5,049
7,466
1,449
636
5,381
7,935
1,561
653
5,722
3,762
941
365
2,456
4,053
1,014
382
2,658
4,346
1,076
424
2,845
6,264
1,570
667
4,028
6,627
1,632
684
4,312
6,998
1,709
710
4,579
31,658
6,414
2,996
22,248
33,869
6,726
3,039
24,104
35,728
6,978
3,054
25,697
15,577
3,917
1,430
10,231
16,604
4,199
1,460
10,945
17,821
4,455
1,597
1 1 ,769
82
83
84
85
SURVEY OF CURRENT BUSINESS
August 1992
Table 3.—Personal Income by Major Source
[Millions
Idaho
Colorado
Line
Wyoming
Utah
Montana
Item
1989
1990
1989
1990
1991
1989
1990
1991
1989
1990
1991
65365
64685
14053
13092
11 306
10830
11 709
11 355
12673
12181
22503
22285
24269
24028
25890
25687
6906
7434
6810
7313
961
994
15271
14200
1 071
15935
15158
680
777
477
219
241
203
163
800
808
14649
15,675
1 729
14034
1 770
14625
460
14,139
1 706
13,192
452
14,131
1 039
15333
95
458
121
1 011
15,099
354
799
492
15065
16,439
16,937
10,300
11 230
11 603
7330
7605
791
70
527
14
559
19
612
19
18549
1 124
19785
1 231
5488
720
65
17144
1 041
5229
659
71
90
106
111
10575
2420
2276
10882
2504
2550
6817
7066
2375
2114
2313
2331
7582
2525
2,565
16192
3079
3,232
17531
3209
3530
7928
8476
5349
5680
6048
1990
1991
58125
57359
61 942
61 125
767
817
3276
17,744
3302
18,758
3377
19358
43 1 00
2625
1989
1991
Income by Place of Residence
1 Total personal income (lines 6-11)
2
Nonfarm personal income
3
Farm income (line 17)2 .
4
S
Population (thousands) 3
Per capita personal income (dollars)4
7783
7620
Derivation of Total Personal Income
6
7
8
9
10
11
Earnings by place of work (line 12-16 or 17-85)
Less' Personal contributions for social insurance 5
Plus: Adjustment for residence6
Equals' Net earnings by place of residence
Plus: Dividends interest and rent7 .
. . . . .
Plus: Transfer payments 8
45961
2823
48534
3086
-39
-39
-46
40436
10457
7233
43100
11 020
7,823
45402
11 169
8794
2260
2,081
34575
3,240
5285
36971
3,539
5452
39319
3863
5352
696
779
859
517
544
596
2372
2523
2269
1 464
1 381
1 531
14069
1,335
1,740
609
643
511
799
893
603
383
251
391
4,677
4,809
1,574
1 630
1 665
1,081
1 129
1,140
1 071
10,159
8294
147
126
777
477
354
492
219
241
203
95
121
163
10,826
8788
161
138
6,853
5324
56
43
7252
5630
64
49
7,684
5957
65
50
16,925
13483
47
45
18,308
14604
54
52
19,581
15622
59
57
4823
3595
30
27
5,108
34
29
5,325
3959
35
31
22
169
0
-1
104
66
819
24
140
0
1
82
57
857
13
239
58
53
99
29
385
16
242
59
51
102
30
410
15
251
75
52
92
32
443
2
335
128
57
123
26
900
2
360
135
64
134
28
965
2
365
126
80
130
28
1,084
4
764
263
295
29
178
348
4
828
278
330
33
188
367
5
859
291
330
37
201
397
2,134
655
220
60
0
10
35
53
21
37
0
665
225
59
0
11
35
56
22
38
0
673
243
61
1
12
39
60
22
44
0
2,909
3,097
3,213
758
241
5
68
43
190
106
43
0
817
256
6
68
49
211
116
45
0
854
264
7
72
53
215
124
52
0
259
138
24
0
2
0
35
23
47
0
279
156
24
0
2
0
36
36
51
0
293
164
23
0
2
0
38
39
55
0
61
1
2,150
66
1
2,281
67
1
2,359
69
58
224
190
73
67
236
208
9712
8175
4918
305
-55
329
-67
358
-71
18664
3288
3938
4558
1 379
968
4833
1 538
1,063
5059
1 537
1 187
15240
1 481
1 828
16310
1 629
1 845
3929
4205
4417
172
190
153
1,568
1,639
1,692
362
628
50
577
395
629
72
558
Earnings by Place of Work
12
13
14
15
16
Components of earnings:
Wages and salaries
Other labor income
Proprietors' income9
Farm
Nonfarm9
4841
7232
430
641
114
526
Earnings by Industry
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
42
43
44
45
46
47
48
49
50
51
52
53
54
55
56
57
58
59
60
61
62
63
64
65
66
67
68
69
70
71
72
73
74
75
76
77
78
79
80
81
82
83
84
85
Farm
Nonfarm
Private
Agricultural services, forestry, fisheries, and other 10
Agricultural services
Forestry, fisheries and other10
Mining
Coal mining
Oil and gas extraction
Metal mining
Nonmetallic minerals except fuels
Construction
767
817
680
961
42,333
34671
234
226
45,144
37025
260
251
47853
39123
274
265
9,339
7624
127
110
17
162
0
g
8
g
1 064
1 059
1 028
175
637
218
35
177
648
197
37
161
644
187
36
o
103
59
705
2325
2456
2604
Manufacturing
Nondurable goods
Food and kindred products
Textile mill products . .
Apparel and other textile products
Paper and allied products
Printing and publishing
Chemicals and allied products
Petroleum and coal products
Tobacco products
Rubber and miscellaneous plastics products
Leather and leather products
Durable goods
Lumber and wood products
Furniture and fixtures
Primary metal industries
Fabricated metal products
Machinery and computer equipment
Electric equipment, except computer equipment
Transportation equipment excluding motor vehicles
Motor vehicles and equipment
Stone, clay and glass products
Instruments and related products
Miscellaneous manufacturing industries
6667
6,851
2297
6797
2460
759
6
67
77
648
328
42
0
791
7
68
78
680
389
37
0
854
8
68
83
713
456
44
0
732
394
2
5
84
88
143
0
0
793
419
2
5
103
93
150
0
0
857
450
2
5
113
99
165
0
0
199
42
4,499
205
42
4,554
190
44
4,337
13
4
1,195
15
5
1,220
18
6
1,277
100
70
101
339
102
73
107
357
102
77
102
366
659
11
5
58
634
12
6
61
1,331
660
775
46
1,438
493
787
42
1,169
489
750
39
210
173
16
16
273
695
108
280
769
107
289
836
118
Transportation and public utilities
Railroad transportation
Trucking and warehousing
Water transportation
Other transportation11
Communications
Electric, gas and sanitary services
3,557
3870
4,088
185
620
2
915
177
663
2
982
177
691
1
1 321
1 479
1 018
1 604
515
566
597
24
10
13
647
103
220
4
65
122
134
Wholesale trade
Retail trade
Finance, insurance, and real estate
Depository and nondepository credit institutions
Other finance, insurance, and real estate 12
2,614
4387
2,866
875
1,991
2,820
4589
3,010
891
2,118
2,950
4,901
3,144
917
2,226
10,956
12,112
564
445
69
603
448
71
Services
..
Hotels and other lodging places
Personal services
.
Private households
Business services
Auto repair services and parking
Miscellaneous repair services
Amusement and recreation services
Motion pictures
Health services
Legal services
Educational services
Social services12
Museums botanical zoological gardens
Membership organizations
Engineering and management services13
Miscellaneous services
Government and government enterprises
Federal civilian
Military
State and local
D
2168
2110
2342
74
70
236
219
252
388
615
77
263
383
613
98
26
12
5
0
32
3
5
0
37
4
6
1
98
135
99
103
153
108
101
180
122
17
3
3
18
3
3
18
3
3
1,420
1,512
1,589
124
403
1
328
245
320
121
429
0
374
252
335
117
453
0
389
264
366
530
133
136
0
37
69
155
545
134
139
D
(D
)
559
137
143
"
1,033
1,086
1,700
1,144
1,837
332
899
958
633
12
6
62
244
179
16
16
260
215
16
18
17
17
3
4
21
11
3
4
20
13
3
4
240
392
583
61
29
10
13
676
97
231
(D)
M
126
144
30
11
14
30
6
21
698
124
208
(D)
(D)
118
173
407
962
318
31
7
22
735
128
220
(D)
171
216
182
246
189
258
133
151
137
181
148
184
366
534
366
592
1,244
1,932
1,067
404
663
13,338
2,042
2,279
2,471
1,711
1,864
1,998
4,186
4,676
5,069
819
898
928
625
461
71
98
95
15
225
87
48
57
10
627
130
59
51
0
72
459
7
104
97
15
257
92
54
73
11
700
138
62
57
1
76
531
12
106
101
15
273
96
50
78
12
782
144
67
68
1
78
585
15
104
73
13
151
66
40
63
12
682
141
39
65
1
89
167
5
109
72
13
171
68
41
82
12
740
150
41
70
1
93
191
6
107
75
13
179
71
37
88
33
809
152
44
84
177
148
19
659
150
84
148
82
196
157
20
777
160
99
178
92
206
170
20
909
162
86
188
89
1,196
1,340
1,489
242
264
73
259
286
82
273
307
95
104
43
8
69
41
33
40
6
226
72
14
33
108
41
9
78
38
43
65
6
243
75
15
35
100
200
6
509
420
14
520
492
17
515
528
30
34
90
35
99
112
42
9
85
37
32
50
6
272
76
17
42
3
33
107
4
2,038
1,529
1,621
1,727
1,366
417
129
432
140
3,959
1,280
1,295
394
123
3,704
1,227
1,228
427
157
3,442
1,177
204
217
236
2,062
2,260
2,444
220
91
918
232
92
971
1,023
2812
3427
1,020
3,812
1,057
264
295
11
416
286
330
13
431
1 926
2,109
529
1,098
57
65
70
7,663
1 764
8,119
1 927
8,730
2074
851
868
963
362
161
5,693
1,192
1,715
Data are suppressed in order to avoid the disclosure of confidential information; estimates are included in totals.
1. The industry classification uses the 1987 Standard Industrial Classification (SIC).
2. Farm income consists of proprietors' net income; the cash wages, pay-in-kind, and other labor income of hired
farm workers; and the salaries of officers of corporate farms.
3. Midyear population estimates provided by the Bureau of the Census. The 1989 population estimates have
been adjusted to reflect both the 1980 and 1990 Census of Population counts for April 1; the 1990 midyear (July
1) estimates reflect the 1990 Census of Population count plus 3 months of estimated population change.
4. The computation of per capita personal income used midyear population estimates provided by the Bureau
6
2
128
33
1
9
15
2
2
430
244
8
56
22
447
3064
5,323
6
2
123
34
1
8
15
2
2
440
260
7
59
21
428
414
168
601
79
5,047
5
1
121
33
2
8
12
2
1
436
260
7
59
19
387
393
181
578
72
1 654
2012
26
5
19
680
123
200
0
73
115
168
384
930
284
373
174
490
70
959
256
265
g
397
1,927
3813
588
1,176
1,865
395
154
1,316
698
90
240
(D)
r
128
158
627
1,252
1,455
1,012
1,075
h
123
184
427
1.155
e
191
494
160
74
160
183
519
161
191
548
149
89
71
88
73
86
63
L
164
243
101
of the Census. The 1989 population estimates have been adjusted to reflect the 1980 and 1990 Census of Population counts for April 1; the 1990 midyear (July 1) estimates reflect the 1990 Census of Population count plus
3 months of estimated population change.
5. Personal contributions for social insurance are included in earnings by type and industry but excluded from
personal income.
6. U.S. adjustment for residence consists of adjustments for border workers: Earnings of U.S. residents commuting
outside U.S. borders to work less earnings of foreign residents commuting inside U.S. borders to work plus certain
Caribbean seasonal workers.
SURVEY OF CURRENT BUSINESS
August 1992 • 59
and Earnings by Industry1,1989-91—Continued
of dollars]
Far West
California14
Alaska
Hawaii
Washington
Oregon
Nevada
1Line
ino
1989
1990
1991
1989
1990
1991
10,859
10,852
7
547
19,845
11,447
11,439
7
551
20,764
757,459
746,980
10,479
39,534
19,160
815,932 843,904
805,633 834,821
9,083
10,300
40,614 41,308
20,090 20,429
565,555
36,027
-443
529,085
127,607
100,767
608,044
39,104
-326
568,614
135,511
111,808
624,041
41,650
-269
582,122
136,987
124,795
9,314
732
-482
8,100
1,184
1,575
9,747
782
-506
8,459
1,261
1,726
452,598
43,608
69,349
7,434
61,914
487,503
47,441
73,101
6,944
66,157
499,147
50,469
74,425
5,776
68,648
7,330
689
1,295
5
1,290
7,750
737
1,260
5
1,255
10,479
555,076
463,707
5,226
4,098
1,129
3,372
10,300
597,745
498,124
5,895
4,665
1,230
3,584
9,083
614,958
508,072
6,050
4,780
1,270
3,743
7
9,307
6,456
317
11
306
731
7
9,739
6,714
314
13
301
830
(D)
(D)
(D)
2,024
2,399
2,208
817
812
820
D
D
()
(D)
()
37,639
36,693
39,526
101,051 104,034 104,530
30,177 31,093
28,311
7,377
8,448
7,993
497
492
502
3,104
2,689
2,955
2,743
2,792
2,883
7,237
6,830
7,439
3,776
3,820
4,050
1,952
2,179
1,889
4
2
2
2,543
2,376
2,525
177
136
168
73,437
73,857
72,740
5,244
5,808
5,639
1,677
1,624
1,493
2,612
2,626
2,605
5,551
5,543
5,719
10,715
11,458
11,730
11,674
11,676
11,528
17,921
18,629
17,870
1,454
1,374
1,533
2,437
2,542
2,420
11,671
11,413
11,199
1,587
1,545
1,520
34,382
36,575 38,003
1
262
1,339
1 301
7,914
7,757
7,315
1,771
1,642
1,739
9,359
10,045 10,689
9,799
8,813
9,520
6,567
5,914
6,213
37,692
37,916
35,058
62,027
57,517
60,754
38,199
40,606 41,016
13,225
13,825 13,767
27,249
24,975
26,781
151,263 169,457 178,093
10,434 10,738
9,579
4,979
5,175
4,808
1,505 , 1,601 1,579
26,592
30,194 30,834
5,476
5,120
5,406
2,449
2,614
2,672
9,078
6,930
8,796
7,944
7,910
6,670
39,945
44,139 48,631
14,415
13,869
12,609
4,414
4,716
4,203
4,351
3,333
3,810
205
171
191
4,743
4,444
4,668
21,741
25,033 26,415
1,307
1,379
1,000
99,621 106,886
91,370
18,297
17,636
16,593
11,782
12,188 12,895
69,797
75,693
62,995
(D)
658
58
(D)
691
541
363
225
(D)
2
48
45
21
20
0
1
(D)
178
138
1
(D)
7
2
(D)
9
(D)
16
(D)
2
1,064
o
94
66
369
148
387
273
826
335
122
212
1,679
136
78
8
270
82
44
70
26
373
107
26
95
1
83
274
6
2,850
621
535
1,694
1989
1990
1991
1989
1990
1991
1989
1990
1991
1989
1990
1991
633,326
626,878
6,448
30,380
20,847
20,562
20,328
234
1,095
18,785
22,882
22,653
229
1,113
20,552
24,045
23,828
217
1,135
21,190
21,370
21,264
106
1,137
18,788
24,083
23,982
101
1,224
19,677
25,398
25,305
93
1,284
19,783
45,163
44,275
888
2,791
16,184
48,917
48,014
903
2,861
17,098
51,353
50,478
875
2,922
17,575
83,936
82,481
1,455
4,746
17,684
91,936
90,452
1,484
4,909
18,727
97,766
96,323
1,444
5,018
19,484
1
2
3
469,722
31,021
327
439,028
102,397
91,901
15,945
1,009
17,584
1,123
18,676
1,224
14,936
3,027
2,600
16,461
3,326
3,095
17,452
3,416
3,177
16,096
835
-365
14,896
3,784
2,690
17,946
933
-347
16,667
4,354
3,062
18,820
1,005
-349
17,465
4,372
3,561
32,487
2,353
-442
29,691
8,502
6,970
35,162
2,545
-488
32,129
9,055
7,732
36,734
'2,741
-501
33,492
9,240
8,620
60,012
3,981
657
56,688
14,706
12,542
65,800
4,399
747
62,148
15,948
13,839
69,844
4,815
781
65,810
16,295
15,661
6
7
8
9
10
11
8,148 344,222 368,515 373,384
808 33,887 36,640 38,717
1,290 53,592 56,651 57,620
3
5,573
5,134
4,036
1,287 48,019 51,517 53,583
13,087
1,158
1,700
56
1,645
' 14,508
1,301
1,775
33
1,742
15,378
1,434
1,864
25
1,840
13,639
1,077
1,379
75
1,304
15,235
1,221
1,490
68
1,422
15,930
1,326
1,564
61
1,504
25,467
2,576
4,444
649
3,796
27,652
2,858
4,652
637
4,014
28,906
3,099
4,729
615
4,114
48,854
4,221
6,937
1,076
5,861
53,843
4,683
7,274
1,067
6,206
57,401
5,086
7,357
1,037
6,320
12
13
14
15
16
217
234
106
6,448
229
15,711
18,459
15,990
17,355
463,273
13,664 13,776
386,424 11,511
12,870
114
94
74
4,133
80
3,927
106
65
70
85
9
8
10
206
10
4
13
560
1,999
3
o
(D)
4
1,547
2
0)
0)
0
0
510
0
(D)
4
5
12
45
289
1,287
1,523
26,260
1,513
1,625
764
734
722
81,333
749
247
582
24,655
561
589
234
6,165
230
235
39
1
417
(D)
(D)
(D)
36
9
2,882
40
35
8
9
3
1,573
8
229
113
5,910
245
258
27
3,417
15
16
13
1
32
28
1,966
31
0
0
2
0
0
2,174
6
6
53
6
0
149
(D)
(D)
173
182
56,678
160
476
14
33
1,839
12
15
19
18
21
1,279
18
0
0
45
1,526
(D)
20
4,683
18
51
19
11
63
9
10,239
8
D
1
2
36
10,560
()
19
21
12
11,816
22
1
1
9
1,145
(D)
72
71
69
1,850
58
59
10,549
6
6
12
17
1,192
12
75
27,249
1,456
1,562
1,032
1,310
799
39
164
141
130
5,639
115
4
124
134
109
1,056
7,541
733
785
329
649
314
332
226
7,358
295
171
142
155
269
4,856
703
735
680
29,040
630
2,072
2,151
1,902
1,656
45,753
1,283
1,340
695
1,128
33,320
384
348
413
269
10,900
927
899
426
22,420
780
6,834
137,337
5,011
5,359
4,423
1,254
1,174
1,339
2,989
4,668
140
147
153
3,836
125
34
34
1,337
30
33
652
664
540
549
25,050
146
148
150
4,226
135
54
57
57
52
1,836
164
212
200
680
7,186
7,644
30
29
26
26
1,331
1,041
1,180
1,043
36,825
367
234
314
361
11,774
151
170
31
3,810
140
113
49
126
3,180
95
14
17
2
12
157
124
87
3,474
133
115
537
575
753
21,139
433
16
13
10
16
1,195
2,214
4,486
4,795
4,200
76,849
1,107
1,111
384
12,257
1,086
1,492
237
1,609
1,429
8,659
1,887
2,074
1,592
1,685
55,933
101
17,845
15,386
88
78
10
607
93
18,727
15,966
94
85
9
596
888
31,599
26,416
355
191
164
45
1,455
58,557
47,526
770
326
444
153
(D)
15
(D)
54
3,915
12,868
3,198
916
26
106
775
585
518
106
0
154
11
9,670
1,322
95
518
371
640
373
5,244
174
232
559
144
3,861
249
873
388
974
965
412
3,772
6,232
3,093
1,221
1,872
12,863
462
549
99
1,969
486
281
450
86
4,353
1,064
363
370
11
563
1,690
67
11,031
2,246
1,424
7,361
1,484
64,316
52,254
903
383
519
153
1,444
68,401
55,174
970
409
561
169
(D)
(D)
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
42
43
44
45
46
47
48
49
50
51
52
53
54
55
56
57
58
59
60
61
62
63
64
65
66
67
68
69
70
71
72
73
74
75
76
77
78
79
80
81
82
83
84
85
1983
1990
1991
12,015 575,569
12,010 567,780
6
7,789
570 29,218
21,067 19,699
616,668
609,093
7,576
29,956
20,586
10,245 431,701
844 27,117
-527
189
8,874 404,773
1,266 96,405
1,875 74,391
461,805
29,322
267
432,750
101,566
82,352
6
7,789
7,576
10,239 423,912 454,230
7,035 358,020 382,276
325
3,630
4,090
15
3,882
3,436
310
195
209
904
1,934
1,880
(D)
(D)
(D)
(D)
753
822
1,447
1,349
D
64
66
(
)
(D)
329
326
(D)
(D)
734
709 28,441
29,275
627 79,201
592
80,972
405
458 22,264 23,707
5,854
265
303
5,445
420
425
(D)
(D)
2
2
2,484 , 2,744
43
45
1,495
1,519
5,437
50
56
5,788
20
26
3,118
3,320
24
1,711
22
1,753
2
0
0
3
2
2
2,036
2,161
141
115
(D)
(D)
187
169 56,937 57,266
146
126
2,122
2,040
1
1
1,463
1,403
2
2
1,582
1,551
4,724
6
6
4,858
2
3
9,380 10,024
1
1
10,722 10,515
9
9 12,371
12,628
1
987
0
1,070
17
17
1,927
1,975
1
1
10,124
10,365
1
1
1,162
1,213
912
985 24,722 26,404
o
o
865
837
106
118
5,249
5,565
61
64
981
1,042
427
477
6,722
7,102
7,241
158
178
6,670
160
148
4,235
4,619
290
300 27,370 29,235
873
906 43,234 45,306
374 31,403 33,074
342
124 10,677 11,105
118
250 20,726 21,968
225
1,905 118,139 131,985
1,826
137
4,481
4,708
140
77
3,607
75
3,709
1,359
8
8
1,279
312 22,092 24,794
289
92
66
3,970
4,165
37
1,987
2,003
45
84
88
5,359
6,956
27
6,452
7,693
25
404
455 30,525 33,594
117 10,336 .11,364
112
3,427
27
3,589
28
2,464
102
108
2,798
1
1
134
148
97
3,308
3,460
90
336 17,834 20,519
323
1,144
10
868
8
3,204 65,892
71,953
3,026
717 11,230 11,883
669
8,234
610
566
8,026
1,877 46,636 51,836
1,791
n
n
7. Includes the capital consumption adjustment for rental income of persons;
8. Includes compensation for Japanese internment.
9. Includes the inventory valuation and capital consumption adjustments.
10. "Other" consists of the wages and salaries of U.S. residents employed by international organizations and
by foreign embassies and consulates in the United States. .
11. Includes local, interurban, and highway passenger transit; transportation by air; pipelines (except natural gas);
and transportation services.
o
6
551
50
1,617
786
262
44
1
8
2
121
31
0
0
54
0
524
36
20
44
60
65
42
18
9
76
61
93
1,145
41
174
(D)
(D)
255
303
769
1,797
788
300
489
7,787
3,487
169
33
637
163
64
738
29
1,188
272
32
58
2
93
812
11
2,460
419
229
1,811
o
8
544
44
1,454
817
284
54
1
8
6
123
34
1
0
56
0
533
28
18
40
64
70
49
14
9
70
70
100
1,218
42
183
(D)
(D)
268
322
797
1,914
818
320
498
8,258
3,724
188
34
666
164
56
728
29
1,319
287
34
70
2
93
847
18
2,761 •
455
256
2,050
875
903
34,260
35,859
28,625 29,809
414
406
224
238
182
175
54
62
(D)
(D)
(D)
-1
-2
(D)
(D)
(D)
44
37
47
1,784
2,063
2,115
7,204
7,341
6,969
1,771
1,869
1,651
522
580
620
41
41
40
55
53
48
419
432
415
424
451
393
87
99
78
27
28
20
0
0
0
128
129
125
12
13
8
5,434
5,472
5,318
2,087
1,962
2,182
82
80
79
469
495
457
371
366
359
622
648
670
692
539
625
274
214
279
214
221
200
137
134
145
421
433
463
98
106
100
2,533
2,696
2,393
173
186
160
892
821
859
93
(DD)
(DD)
315
()
()
508
535
590
564
516
469
2,627
2,333
2,528
3,951
4,191
3,669
1,710
1,751
1,545
587
680
623
1,087
1,071
958
7,324
8,612
8,175
350
348
336
324
294
309
60
57
61
1,371
1,357
1,171
312
322
298
168
178
195
272
207
258
62
67
53
2,884
2,610
3,173
599
633
555
217
252
231
304
342
260
13
13
12
307
316
289
877
918
756
43
48
33
5,635
6,051
5,183
1,128
1,173
1,025
143
139
130
4,368
4,735
4,028
18
(D)
(D)
67
59
4,324
4,531
13,648
13,746
3,472
3,245
1,070
1,016
34
33
122
113
818
800
654
626
227
576
122
129
0
0
177
174
13
13
10,403
10,273
1,274
1,316
97
99
549
560
421
409
737
709
373
343
5,781
5,680
156
162
267
265
574
581
171
154
4,292
4,123
250
261
940
923
419
416
1,092
1,056
1,072
1,018
507
460
4,418
4,168
7,113
6,756
3,413
3,409
1,330
1,295
2,114
2,082
16,621
14,673
521
495
603
577
106
106
2,786
2,451
550
528
324
298
592
562
114
103
5,528
4,889
1,238
1,161
421
385
526
436
14
13
630
593
2,599
1,966
84
95
12,062 13,226
2,584
2,430
1,618
1,528
9,024
8,104
4
5
12. Includes security and commodity brokers and services; insurance carriers,, agents, brokers, and services; real
estate; and holding and other investment companies.
13. This industry is new in the 1987 SIC.
14. The 1989 estimates of proprietors' income and of rental income of persons reflect the uninsured losses resulting from damage caused by Hurricane Hugo in South Carolina and North Carolina and by the Loma Prieta earthquake in California,
6o
SURVEY OF CURRENT BUSINESS
August 1992
U.S. Multinational Companies:
Operations in 1990
By Raymond J. Mataloni, Jr.
The Direct
Investment Abroad
Branch of the
International
Investment
Division, under the
direction of
Patricia C. Walker,
conducted the
survey from which
the estimates were
derived. David H.
Galler supervised
the editing and
processing of the
reports. Marie
Colosimo designed
the computer
programs to
generate the tables.
HIS ARTICLE presents preliminary estimates
± of the operations of nonbank U.S. multinational companies (MNC'S). These estimates are
based on data from the Bureau of Economic
Analysis (BEA) 1990 annual survey of U.S. direct
investment abroad (USDIA).
The following are highlights from the survey.
• Worldwide assets of U.S. MNC'S increased 5
percent to $6,522.1 billion; sales increased 8
percent to $4,758.9 billion; and employment
decreased i percent to 25.3 million workers (table i). U.S. parent companies' assets
increased 2 percent, sales increased 4 percent, and employment decreased i percent.
Foreign affiliates' assets increased 17 percent,
sales increased 15 percent, and employment
was little changed. (Much of the increase in
the assets and sales of MNC'S and affiliates,
however, appears to have been the result of
dollar depreciation.)
• The relative stability of affiliates' employment reflected a number of offsetting
changes. Growth in employment in manufacturing, wholesale trade, and "finance
(except banking), insurance, and real estate"
(FIRE) offset declines in other industries.
By area, growth in employment in Europe,
Asia and Pacific, and "Latin America and
Other Western Hemisphere" offset declines
in other areas.
• Europe was the favored location for newly
acquired or established affiliates in 1990. The
new European affiliates tended to be larger,
on average, than those in other areas.
• For the 10 host countries in which employment by majority-owned foreign affiliates
(MOFA'S) was largest, the share of total hostcountry business employment accounted for
by MOFA'S ranged from 9.7 percent in Canada
to 0.3 percent in Japan.
• The MOFA share of selected measures of
worldwide MNC operations in 1990 was either
the same as or higher than it was 1982. The
MOFA shares of worldwide MNC employment
and sales in 1990 were similar to their 1982
levels, but the MOFA shares of net income,
research and development expenditures, and
capital expenditures were higher in 1990 than
they were in 1982.
• MNC-associated U.S. exports were $248.5 billion, or 63 percent of all U.S. merchandise
exports in 1990 (down from 65 percent in
1989). MNC-associated U.S. imports were
$214.4 billion, or 43 percent of all U.S.
merchandise imports in 1990 (up from 42
percent in 1989).*
The first section of this article analyzes the
domestic, or parent, operations of U.S. MNC'S,
and the second section analyzes the operations
of their foreign affiliates. The third section analyzes how the global distribution of U.S. MNC
operations—that is, between U.S. parents and
MOFA'S—changed during the 1980'$. The last two
sections analyze U.S. merchandise trade associated with U.S. MNC'S and MNC sales by type and
by destination. In this article, information from
outside sources, mainly press reports, is used to
supplement BEA'S survey data.
U.S. Parent Operations
The operations of U.S. parent companies in 1990
were constrained by sluggish U.S. economic conditions and by corporate downsizing in certain
industries, such as autos and aerospace, in response to longer term structural changes in the
U.S. economy. In 1990, U.S. parents' assets increased 2 percent, compared with a 9-percent
average annual rate in 1982-89; employment fell
i percent, compared with a near-zero growth rate
in 1982-89; and sales increased 4 percent, about
the same rate as in 1982-89 (table i). The remainder of this section will examine changes in
i. MNC-associated U.S. exports are the sum of goods shipped to affiliates
by all U.S. persons and goods shipped to unaffiliated foreigners by U.S. parents. MNC-associated U.S. imports are the sum of goods shipped by foreign
affiliates to all U.S. persons and goods shipped by unaffiliated foreigners to
U.S. parents.
SURVEY OF CURRENT BUSINESS
Key Terms
The following key terms are used to describe the members of U.S. multinational companies.
U.S. multinational company (MNC) : The U.S. parent and all of its foreign affiliates.
U.S. parent : A U.S. parent is a person, resident in the United States, that owns or controls 10 percent or more of
the voting securities of an incorporated foreign business enterprise or an equivalent interest in an unincorporated
foreign business enterprise. "Person" is broadly defined to include any individual, branch, partnership, associated
group, association, estate, trust, corporation or other organization (whether or not organized under the laws of
any State), or any government entity. If incorporated, the U.S. parent is the fully consolidated U.S. enterprise
consisting of (i) the U.S. corporation whose voting securities are not owned more than 50 percent by another U.S.
corporation, and (2) proceeding down each ownership chain from that U.S. corporation, any U.S. corporation
(including Foreign Sales Corporations located within the United States) whose voting securities are more than
50 percent owned by the U.S. corporation above it. A U.S. parent comprises the domestic (U.S.) operations of
a U.S. MNC.
Foreign affiliate : A foreign affiliate is a foreign business enterprise in which there is U.S. direct investment, that is,
in which a U.S. person owns or controls 10 percent or more of the voting securities or the equivalent. Affiliates
comprise the foreign operations of a U.S. MNC.
Majority-owned foreign affiliate (MOFA) : A foreign affiliate in which the combined ownership of all U.S. parents
exceeds 50 percent.
Nonbank : An entity (MNC, parent, or affiliate) whose primary activity is not banking. Only nonbank entities are
covered by this article.
parent operations in terms of employment by industry. Employment will be examined because,
unlike assets and sales, it is not directly affected
by valuation changes (such as those caused by
inflation or exchange-rate fluctuations).
The relative stability of parent employment
in 1990 reflected a number of largely offsetting
changes among industries (tables 9.1 and 9.2).
Most of the changes in primary and fabricated
metals manufacturing, nonelectrical machinery
manufacturing, and wholesale trade were accounted for by industry reclassifications of U.S.
parents, which have no net effect on the allindustries total.2 Changes in the remaining
industries were more directly tied to the actual
growth or decline in parent operations.
The largest decreases in parent employment
were in transportation equipment manufacturing
and in "other" manufacturing. In transportation equipment, parent employment decreased
4 percent; the decrease was spread between the
two major segments of the industry—the automotive ("motor vehicles and equipment") and
aerospace industries (included in "other transportation equipment"). In the automotive industry, the decrease in employment mainly reflected
reduced production due to falling demand in the
U.S. auto market; it also reflected plant closings
in response to a gradual loss of market share to
2. Each U.S. parent is classified in the industry that accounts for the
largest portion of its sales or, for holding companies, its total income. Many
U.S. parents are involved in a variety of business activities, and changes in the
mix of these activities can cause a parent's industry classification to change.
foreign competitors. In aerospace, the decrease
in employment reflected parents' efforts to bring
their employment in line with reduced orders for
military equipment. In "other" manufacturing,
parent employment decreased 4 percent, partly
because of industry reclassifications of companies whose mix of activities had shifted and
partly because of the divestiture of peripheral
businesses.
The largest increases in employment were in
"other" industries and in petroleum. In "other"
industries, parent employment increased i percent, mainly in communication and public utilities and in transportation. Increases in these
industries resulted both from U.S. companies establishing or acquiring foreign affiliates for the
first time in 1990 and from existing parent companies expanding their operations. In petroleum,
a 3-percent increase in employment was largely
attributable to new MNC'S.
Foreign Affiliate Operations
Overview of changes
As measured in U.S. dollars, foreign affiliates' assets and sales grew faster in 1990 than during
1982-89 (table i). Assets increased 17 percent in
1990, compared with an average annual growth
rate of 9 percent during 1982-89, and sales increased 15 percent, compared with 5 percent.
However, the 1990 increases were mainly the result of changes in prices and exchange rates.
August 1992
6i
SURVEY OF CURRENT BUSINESS
62 • August 1992
In 1990, the dollar fell sharply relative to major European currencies and the Japanese yen,
which boosted the dollar value of assets and sales
denominated in those currencies. In addition,
higher oil prices raised the value of sales and of
certain assets (mainly accounts receivable).
Affiliate employment, which is not directly affected by prices and exchange rates, was stable in
1990.
Changes by source
The year-to-year changes in affiliate operations
are the net result of changes in existing operations, the acquisition or establishment of af.filiates, the sale of affiliates to foreigners, the
Table 1.—Total Assets, Sales, and Employment of Nonbank
U.S. MNC's, U.S. Parents, and Foreign Affiliates,
1977 and 1982-90
MNC's
worldwide ]
Parents
Affiliates
Total assets
Millions of dollars:
1977
1982
1983
1984...
1985 . .
.
.
.
1986
1987
1988 .
1989
1990
Percent change at annual rates:
1977-82
1982-89
1989-90
2,033,418
3,493,105
3653615
3 820,025
4 297,034
4 723 294
5 285 962
5 569,767
6,182,401
6 522 091
114
85
55
1,548,240
2,741,619
2 902 793
3 060 031
3 462 398
3 792 001
4175308
4 363 441
4,852,373
4 969 374
12.1
85
24
490,178
751,486
750 823
759,994
834 636
931 293
1 110654
1 206 326
1,330,028
1 552717
8.9
85
16.7
Sales
Millions of dollars:
1977
1982 .
1983
1984
1985
1986
1987
1988
1989
1990
.
Percent change at annual rates:
1977-82
1982-89
1989-90
2 060 263
3284,168
3 263 802
3,407,337
3482155
3,473,354
3 742,022
4,022,942
4,421,731
4 758,905
1 412293
2 348 388
2 377 488
2,508,779
2 586 695
2,544,439
2 689 227
2,828,209
3,136,837
3 277 961
647 969
935 780
886314
898,558
895 460
928,915
1 052 795
1,194,733
1,284,894
1 480 944
98
43
76
107
4.2
45
7.6
4.6
15.3
liquidation of affiliates, and improvements in survey coverage (table 2).3 For assets and sales,
growth in ongoing operations was by far the
largest contributor to the year-to-year changes.
For employment, a large decrease that was related to sales and liquidations of affiliates partly
offset increases that were related to acquisitions
and establishments of new affiliates, to improvements in coverage, and to growth in existing
operations. Excluding improvements in coverage, affiliate employment would have been little
changed between 1989 and 1990.
Acquisitions and establishments.—In 1990, 222
affiliates were established or acquired, with a
combined employment of 131,000 (table 3). By
area, Europe accounted for most of these new affiliates. New affiliates in Europe were larger, on
average, than those in other areas; new European
affiliates had an average of 772 employees, compared with an average of 196 employees for new
affiliates in other areas.
By industry, most new investments abroad
were in manufacturing; new manufacturing affiliates accounted for 47 percent of the number
of new affiliates and for 87 percent of their employment. In contrast, new affiliates in FIRE
accounted for relatively small shares of the new
affiliates and their employment; however, they
accounted for a large share—42 percent—of new
affiliates' assets. This large share reflects two
features of the industry: The large equity investments in operating affiliates controlled by holding
companies that have few, if any, employees, and
the tendency for the assets of finance affiliates to
be very large.
3. Through BEA'S efforts to improve survey coverage, some affiliates that
should have been reported in earlier years were added to the survey universe in
1990. Data for those affiliates are recorded under "improvements in coverage"
in table 2.
Table 2.—Sources of Change in Selected Data Items
for Nonbank Foreign Affiliates, 1989-90
Number of employees
Millions of dollars
Thousands:
1977
1982
1983
1984
1985
1986
1987
1988
1989
1990
Percent change at annual rates:
1977-82
1982-89
1989-90
.
...
26,081.3
253448
24,782 6
24,548.5
24,531 9
24,082.0
24 255 4
24 141 1
25,387 5
25,256.2
18,884.6
187046
183995
18,130.9
181126
17,831.8
179858
177376
187654
18,549.9
-.6
0
-.2
0
-1 1
7,196.7
6 640.2
6 383.1
6,417.5
6,419.3
6,250.2
6 269.6
64035
6,622.1
6,706.3
Assets
Sales
Employment
(thousands)
222,689
196,049
84.3
35,220
16,551
130.5
16,168
19,052
11,061
5,491
103.1
27.4
Changes in existing operations
188,854
199,247
75.3
Sales or liquidations
-27,962
-38,809
26,577
19,060
Total change
Change attributable to:
New affiliates
Of which:
Acquisitions
Establishments
-1.6
0
1.3
* Less than .05 percent (±).
1. The MNC totals for assets and sales contain duplication because they do not exclude
positions and transactions between parents and affiliates.
MNC Multinational company
Improvements in coverage ]
-212.6
91.0
1. Through BEA's efforts to improve survey coverage, some affiliates that should have been
reported in earlier years were added to the survey universe in 1990. Data for those affiliates
are recorded on this line.
SURVEY OF CURRENT BUSINESS
Highlights by area and by industry
This section analyzes the changes in affiliate operations in 1990 in terms of employment, both
by area and by industry. By area, employment
growth was strongest in Europe, Asia and Pacific,
and "Latin America and Other Western Hemisphere" (tables 10, 11.1, and 11.2). Employment
declined in Canada, Africa, and the Middle East.
By industry, employment growth was strongest
in manufacturing, wholesale trade, FIRE, and
"other" industries. Employment declined in
petroleum and in services.
In Europe, affiliate employment increased 4
percent to 2.8 million employees in 1990, reflecting the expansion of existing operations as well as
acquisitions and establishments. The expansion
of existing operations reflected the relatively high
rate of European economic growth. The new
investments were concentrated in manufacturing and probably were attracted by the prospect
of increased European economic integration. In
Asia and Pacific, employment increased 2 percent to 1.5 million. Manufacturing affiliates in
some of the newly industrialized Asian economies
Table 3.—Acquisitions and Establishments of Nonbank
Foreign Affiliates, by Major Area and by Major Industry
of Affiliate, 1990
Number of acquisitions
and establishments
Total
All areas, all industries
Acquisitions
Establishments
Total
assets
(millions of
dollars)
Employment
(thousands)
222
95
127
35,220
130.5
19
151
9
66
10
85
860
31,161
5.5
116.6
13
1
1
32
5
6
0
0
14
0
7
1
1
18
5
1,659
134
55
79
26,210
59.3
12
105
11
20
5
8
14
Q
41
16
5
63
8
10
5
4
10
4
22
4
7
42
3
10
0
4
4
2
19
12
896
15,858
4,117
4,505
(D)
484
2,006
(D)
3,049
672
.4
114.1
44
26
19
10
10
3
34
16
16
14,694
2,255
845
0
7.4
By major area
Canada
Europe
Latin America and Other Western
Hemisphere
Africa
Middle East
Asia and Pacific
International ]
Addendum:
European Communities (12) 2
By major industry
Petroleum
Manufacturing
Food and kindred products
Chemicals and allied products
Primary and fabricated metals
Machinery, except electrical
Electric and electronic equipment
Transportation equipment
Other manufacturing
Wholesale trade
Finance (except banking), insurance,
and real estate
Services
Other industries
D
8
1,047
140
2.0
0
n
n
6.5
15.0
12.4
(D)
4.1
27.7
(D)
20.9
expanded their capacity to produce goods for
export; increases were also large in wholesale
trade. In "Latin America and Other Western
Hemisphere," employment increased 2 percent
to 1.3 million. The largest increase occurred in
transportation equipment manufacturing, partly
reflecting rising Mexican auto sales; increases
were also large in FIRE.
In Canada, affiliate employment decreased 2
percent to 932,000 employees. The decline reflected several large divestitures and sluggish
economic conditions in the United States and
Canada. In Africa, employment decreased 2 percent to 114,000, as a manufacturing affiliate was
sold. In the Middle East, employment decreased
47 percent to 49,000, as a large petroleum affiliate
was transferred to a host government.
Majority-owned foreign
affiliates
This section analyzes the operations of majorityowned nonbank foreign affiliates (MOFA'S), in
which the combined ownership by all U.S. parents exceeds 50 percent. For some purposes, an
analysis of the operations of MOFA'S is preferable
to that of the operations of all affiliates, because
U.S. parents typically have unambiguous control
of MOFA'S. In addition, BEA collects more detailed
data for MOFA'S than for other affiliates.
In 1990, the MOFA share of all affiliate employment averaged 78 percent (table 4). Of
the countries presented in table 4, the MOFA
shares were highest in Canada (93 percent), the
United Kingdom (90 percent), and Germany (89
percent). They were lowest in India (27 percent), Japan (35 percent), and the Republic of
Korea (37 percent). In countries with lower-thanaverage shares, majority ownership by foreigners
may be restricted in certain sectors of the host
economies. In India, for example, foreign ownership of businesses engaged predominantly in
trading activities was restricted to 40 percent
in 1990 (unless the firm met certain technology
transfer and export performance criteria).4 The
low shares may also reflect strategic business decisions by the U.S. parents; for example, U.S.
parents may acquire minority interests in affiliates
to share knowledge and to facilitate trade rather
than to influence operations or management.
1.5
Suppressed to avoid disclosure of data of individual companies.
* Less than 50 employees.
1. "International" affiliates are those that have operations in more than one country and
that are engaged in petroleum shipping, other water transportation, or operating movable oiland gas-drilling equipment.
2. European Communities (12) comprises Belgium, Denmark, France, Germany, Greece,
Ireland, Italy, Luxembourg, Netherlands, Portugal, Spain, and the United Kingdom.
August 1992
MOFA share of host-country employment.—The
MOFA share of the total private workforce in the
10 host countries in which MOFA employment was
4. Based on International Monetary Fund, Exchange Arrangements and
Exchange Restrictions, Annual Report 1991 (Washington, DC: International
Monetary Fund, August 1991).
•
63
64 • August 1992
SURVEY OF CURRENT BUSINESS
largest ranged from 9.7 percent in Canada to 0.3
percent in Japan (table 5).5 The MOFA shares were
largest in Canada and Mexico, partly because of
those countries' close proximity to, and relatively
high degree of integration with, the U.S. economy. MOFA shares were also relatively large in
countries—such as Canada, the United Kingdom,
and Australia—where English is spoken. MOFA
shares were smallest in Italy, Brazil, and Japan.
For comparison, estimates of employment of
majority-owned U.S. affiliates (MOUSA'S) of foreign owners in each of the same 10 countries,
and their share of total U.S. employment, are
shown in the addenda to table 5. The MOUSA
shares ranged from i.o percent for the United
Kingdom to less than 0.05 percent for Mexico
and Brazil. For each country except Japan, the
MOUSA share of total U.S. employment is smaller
than the MOFA share of total employment in that
country.6
5. The estimates of total employment for the selected countries are
published by the International Labour Office.
6. The U.S. economy is so large relative to other economies that even if
the ratio of direct investment abroad to gross domestic product were similar
for the United States and other nations, the share of most other countries'
employment accounted for by affiliates of U.S. companies would most likely
exceed the share of U.S. employment accounted for by affiliates of investors
Table 4.—Employment of Majority-Owned and All Nonbank
Foreign Affiliates, by Area, 1990
Number of employees (thousands)
MajorityAll affiliates owned affiliates
All countries
Canada
931.8
Europe
Of which:
France
Germany1
Italy
Netherlands
Switzerland
United Kingdom
Latin America and Other
Western Hemisphere
Of which:
Mexico
Africa
Middle East
Asia and Pacific
Of which:
Australia
India
Japan
Korea, Republic of
International
2
Addendum:
European
Communities
3
(12)
6,706.3
5,203.8
863.6
2,799.0
2,420.1
418.1
590.5
350.3
526.0
191.3
141.2
169.5
124.7
54.8
48.2
846.7
760.2
Percent of
total accounted for
Minorityby majorowned afity-owned
filiates
affiliates
1,502.5
93
378.9
86
67.8
64.5
21.8
16.5
84
89
89
88
88
90
6.6
1,333.4
988.6
344.8
74
551.6
371.0
180.6
67
114.1
77.5
36.6
68
48.5
27.5
21.0
57
1,451.3
803.4
647.9
55
385.0
193.6
191.4
38.3
10.4
27.9
407.8
142.4
265.4
71.6
26.4
45.2
50
27
35
37
28.3
23.0
2,582.3
2,268.6
This section analyzes the relationship between
U.S. parent and MOFA operations of U.S. MNC'S
in 1982-90. Five measures of worldwide MNC
operations—employment, sales to unaffiliated
persons, net income, research and development
expenditures, and capital expenditures—are examined to see if the MOFA share increased during
the past decade.7 The estimates of all the measures except sales to unaffiliated persons cover
1982, 1989, and 1990; the estimates of sales to
unaffiliated persons cover only 1982 and 1989 because the relevant data are only collected on
in those countries. Even for nations, such as Japan, with propensities to
invest abroad above that of the United States, the share of U.S. employment
is relatively small.
7. These measures were selected because the parent data and the affiliate
data for all of these measures except net income are nonduplicative, and thus
yield meaningful comparisons of parent and affiliate shares. The ratio of
affiliate net income to total MNC net income must be interpreted cautiously
because parents' net income includes the parents' shares of their affiliates'
net income; thus, this amount is double-counted in the denominator of the
ratio. For this reason, the ratio will be somewhat understated; likewise, any
increase or decrease in the ratio will be somewhat understated (assuming that
both the numerator and the denominator are positive).
Table 5—Employment by MOFA's and Total Private
Business Employment in Selected Host Countries, 1990
Number of employees (thousands)
5.3
81
313.7
88
1. Beginning in 1990, the data for Germany include data for the former German Democratic
Republic (GDR), which reunited with the Federal Republic of Germany in October 1990. This
change does not affect the comparability of the 1990 data with the data for earlier years,
because there were no affiliates of U.S. companies in the former GDR before 1990.
2. See footnote 1 to table 3.
3. See footnote 2 to table 3.
Addenda: Majorityowned U.S. affiliates of foreign
companies
percentMOFA's
as a
age of
78
68.2
86.5
MOFA Operations in a
Worldwide MNC Context
MOFA's
Canada
Mexico5
United Kingdom
Australia
Netherlands
Germany, Federal Republic
of 6
France
Italy
Brazil
Japan
D
Hostcountry
total ' 2
8,911
hostcountry
total
864
371
760
194
125
8,899
18,710
5,475
4,127
9.7
4.2
4.1
3.5
3.0
526
350
170
333
142
20,357
15,165
15,318
33,183
49,170
2.6
2.3
1.1
1.0
.3
Employment
(thousands) 3
Percent-
560
12
941
86
265
.6
0
1.0
.1
.3
406
301
24
(D)
491
.4
.3
age of
U.S.
total4
S
Suppressed to avoid disclosure of data of individual companies.
* Less than 0,05 percent.
1. Foreign host-country employment data are from the 1991 Yearbook of Labour Statistics
.published by the International Labour Office (ILO). For foreign host countries (except in the
case of Mexico—see footnote 5 below) total private business employment excludes
"community, social, and personal services," most of which consists of either nonprivate or
nonprofit industries in which U.S. multinationals generally do not invest. To be comparable with
the nonbank MOFA data, data for employment by banks should be excluded from the hostcountry totals, but the necessary data were not available. The failure to exclude data for
banks may bias the computed affiliate shares slightly downward.
2. 1990 employment data were not available for Brazil and the Federal Republic of
Germany; employment data for these countries were extrapolated using data for the other
countries in this table.
3. Based on data from BEA's annual survey of the operations of U.S. affiliates of foreign
companies, classified by country of ultimate beneficial owner.
4. The total private industry employment in the United States used for this comparison
(97,019,000) is from table 6.4C of the national income and product accounts in the January
1992 SURVEY OF CURRENT BUSINESS.
5. The host-country total for Mexico, unlike that for the other countries, includes
"community, social, and personal services" because the necessary data to exclude them were
unavailable. The inclusion of employees in these industries somewhat understates the affiliate
share of total private business employment.
6. The host-country total for the Federal Republic of Germany excludes the former German
Democratic Republic (GDR). This restriction does not affect the comparability of the hostcountry and MOFA data because there were no MOFA's in the former GDR in 1990.
MOFA Majority-owned nonbank foreign affiliate
SURVEY OF CURRENT BUSINESS
benchmark surveys and so were unavailable for
1990.8
For each measure of operations, the MOFA share
of the MNC total in 1990 was either about the same
as or higher than it was in 1982 (table 6). In 1990,
in all industries combined, MOFA'S accounted for
roughly the same percentage of worldwide MNC
employment as they did in 1982, and they generated roughly the same percentage of worldwide
MNC sales. However, MOFA'S accounted for a
greater portion of worldwide MNC net income
and for a greater portion of worldwide MNC budgets for capital investments and research and
development.
The stability in the MOFA share of MNC sales
and employment suggests that the relative size of
domestic and MOFA operations for most MNC'S
probably did not change significantly during the
period. However, the increase in the MOFA
share of MNC capital expenditures suggests that
the MOFA operations of MNC'S in some capitalintensive industries, such as petroleum, increased
in relation to their domestic operations.
The increase in the MOFA share of MNC net
income generally reflected weaker market conditions and more intense competition in the United
States than abroad. The MOFA share of research
and development expenditures increased partly
because some U.S. MNC'S joined foreign research
consortia.
The remainder of this section will discuss the
changes in each of the five measures of MNC operations, both at the all-industries level and at
the industry level. For this discussion, the data
for MNC'S, parents, and MOFA'S are classified by
major industry of the U.S. parent.
Employment
The MOFA share of worldwide MNC employment
in 1990 was essentially unchanged from that
in 1982—22 percent, compared with 21 percent.
In only one industry—nonelectrical machinery
manufacturing—did the MOFA share of employment show a pronounced increase. In that
industry, the MOFA share of employment increased 10 percentage points to 36 percent, as U.S.
parents in the computer industry made sharp
cuts in their staffs domestically, while employment by their MOFA'S increased. Among major
industries, changes in MOFA shares were small and
largely offsetting. MNC'S in services, wholesale
trade, petroleum, and manufacturing employed a
somewhat larger share of their workers through
8. "Sales to unaffiliated persons" measures sales by parents and affiliates,
excluding sales among the parents and affiliates that belong to the same MNC.
their MOFA'S in 1990 than in 1982, while MNC'S in
FIRE employed a somewhat smaller share through
their MOFA'S.
Sales to unaffiliated persons
Sales by MOFA'S to unaffiliated persons did not
generate a larger share of the worldwide revenue
of U.S. MNC'S in 1989 than in 1982; in both years,
MOFA'S accounted for 20 percent of worldwide
MNC sales to unaffiliated persons.
Only in nonelectrical machinery did the MOFA
share of sales, like that of employment, show
a pronounced increase between 1982 and 1989.
MNC'S in that industry generated 41 percent of
their worldwide revenues through their MOFA'S
in 1989, up from 30 percent in 1982. This increase was largely accounted for by MNC'S in
computer manufacturing. In computer and office equipment manufacturing, unaffiliated sales
by MOFA'S grew at nearly twice the rate of those
by their U.S. parents. Domestically, the revenues
of U.S. computer companies were dampened by
intense competition that restrained prices. In
contrast, foreign markets for computer products
were more favorable; thus, MOFA'S experienced
relatively higher prices and more stable revenues.
Among major industries, changes were small
and largely offsetting.
MNC'S in petroleum,
manufacturing, and services generated somewhat
larger shares of their worldwide sales through
their MOFA'S; MNC'S in wholesale trade, FIRE, and
"other" industries generated somewhat smaller
shares through their MOFA'S.
Net income
One aspect in which MOFA operations became
much more important to U.S. MNC'S during the
i98o's was profitability. The MOFA share of
worldwide MNC net income grew from 20 percent
in 1982 to 35 percent in 1990. Increases occurred
in nearly all industries in which U.S. MNC'S operated, with the sharpest increases in transportation
equipment manufacturing (mainly automobiles),
nonelectrical machinery manufacturing (mainly
computers), and "other" manufacturing (mainly
cigarettes and textiles).
In transportation equipment, the MOFA share
of MNC net income almost quadrupled, from 16
percent in 1982 to 60 percent in 1990. This trend
was concentrated in the automobile manufacturing industry and mainly reflected a domestic
market that was less robust and more competitive than foreign markets. After peaking in 1986,
car sale's in the United States fell through 1990,
August 1992
SURVEY OF CURRENT BUSINESS
66 • August 1992
Table 6.-Selected Data for Nonbank U.S. MNC's, U.S. Parents, and MOFA's, by Industry of U.S. Parent, 1982,1989, and 1990
Millions of dollars
Sales to unaffiliated persons1
Net income
Research and
development
expenditures
Capital expenditures
Number of
employees
(thousands)
Millions of dollars
Sales to unaffiliated per-
Net income2
2,809,252
Petroleum
Manufacturing
Food and kindred products
Chemicals and allied products
Primary and fabricated metals
Machinery, except electrical
Electric and electronic equipment
Transportation equipment
Other manufacturing
Wholesale trade
Finance (except banking), insurance, and real estate
Services
Other industries
716,779
1,244,342
152,715
226,653
116,991
149,891
140,795
215,862
241,435
158,350
219,544
53,780
416,458
1989:
All industries
3,780,150
Petroleum
Manufacturing
Food and kindred products
Chemicals and allied products
Primary and fabricated metals
Machinery, except electrical
Electric and electronic equipment
Transportation equipment
Other manufacturing
Wholesale trade
Finance (except banking), insurance, and real estate
Services
'.
Other industries
454,570
1,949,221
238,629
321,167
122,068
249,741
169,909
432,713
414,994
254,746
433,328
125,561
562,724
1990:
All industries
n.a.
Petroleum
Manufacturing
Food and kindred products
Chemicals and allied products
Primary and fabricated metals
Machinery, except electrical
Electric and electronic equipment
Transportation equipment
Other manufacturing
Wholesale trade
Finance (except banking), insurance, and real estate
Services
Other industries
n.a.
n.a.
n.a.
n.a.
n.a.
,n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
570,361
Petroleum
Manufacturing
Food and kindred products
,
Chemicals and allied products
Primary and fabricated metals
Machinery, except electrical
Electric and electronic equipment
Transportation equipment
Other manufacturing
Wholesale trade
Finance (except banking), insurance, and real estate
Services
Other industries
205,397
269,585
34,117
63,262
18,347
44,427
22,083
44,599
42,750
33,779
24,370
7,409
29,822
1989:
All industries
773,800
Petroleum
Manufacturing
Food and kindred products
Chemicals and allied products
Primary and fabricated metals
Machinery, except electrical
Electric and electronic equipment
Transportation equipment
Other manufacturing
Wholesale trade
:
Finance (except banking), insurance, and real estate
Services
Other industries
,
Number of
employees
(thousands)
128,183
41,804
245,216
23,727.0
2,238,891
102,044
38,157
200,404
18,704.6
32,749
54,832
6,839
15,301
-1,607
11,822
8,104
2,821
11,552
2,468
15,051
3,496
19,587
2,949
33,505
866
7,496
883
6,734
5,437
7,628
4,461
84,567
95,631
8,431
18,655
7,886
16,994
9,820
14,676
19,170
2,949
6,728
7,088
48,252
1,600.1
14,247.3
1,436.1
2,032.7
1,223.0
1,972.0
2,107.2
2,332.0
3,144.3
522.5
1,316.2
1,121.1
4,919.7
511,382
974,757
118,598
163,391
98,644
105,464
118,712
171,263
198,685
124,571
195,174
46,371
24,847
40,565
5,205
11,295
-2,173
7,715
6,483
2,367
9,673
2,023
13,432
2,980
18,197
2,633
30,596
726
6,690
848
6,383
5,262
6,674
4,013
(D)
239
168
65,171
73,787
6,254
14,862
6,433
10,884
8,814
10,557
15,983
2,491
5,922
6,462
46,572
1,225.3
10,532.8
1,011.2
1,364.6
976.2
1,457.9
1,619.5
1,687.3
2,416.0
396.7
1,004.0
993.8
4,551.9
242,805
66,973
2,425
57,980
253,267
39,920
128,849
12,102
27,047
6,574
17,091
13,487
24,421
28,127
5,668
9,251
16,044
53,536
23,879.4
786.0
13,791.1
1,473.1
1,881.1
843.2
1,905.0
1,479.4
2,851.9
3,357.4
582.6
1,408.0
2,014.6
5,297.1
3,006,350
170,663
59,925
201,808
307,271
1,471,052
189,378
219,648
102,614
147,193
136,864
343,760
331,595
208,474
388,134
105,104
526,315
21,501
89,275
13,079
22,703
5,626
9,727
7,312
13,429
17,399
2,871
24,559
6,491
25,965
2,213
51,699
1,048
13,414
885
26,790
98,662
9,361
20,295
5,402
11,535
11,004
18,642
22,423
4,953
7,581
13,628
50,194
18,765.4
579.8
10,127.0
1,135.8
1,255.0
684.6
1,249.9
1,093.3
2,104.4
2,604.0
434.2
1,107.6
1,700.0
4,816.7
137,352
72,802
20,400
67,249
12,760
21,651
2,611
8,953
6,324
4,058
10,893
2,532
14,992
6,693
25,487
2,422
64,150
1,032
13,887
1,415
13,926
9,031
17,064
7,796
720
1,285
912
3,312
221,200
32,740
103,214
15,727
20,772
5,620
11,348
10,534
17,582
21,632
6,272
9,040
16,098
53,836
18,549.9
596.8
9,843.8
1,159.4
1,278.7
638.0
1,184.4
1,076.6
2,015.0
2,491.7
457.9
1,111.7
1,660.4
4,879.3
33,739
139,476
17,987
35,023
8,107
21,676
9,842
21,661
25,181
4,330
29,332
8,318
27,608
174
1,244
15,294
955
14,162
6,028
13,092
7,207
651
(D)
978
210,258
83,219
282,435
23,753.7
n.a.
35,529
115,372
18,982
35,129
4,307
20,923
8,799
10,061
17,173
4,350
19,028
8,964
27,016
2,634
73,695
1,260
16,221
1,549
17,048
9,556
19,355
8,707
808
1,568
1,002
3,510
49,175
138,327
19,059
29,086
7,342
17,650
13,302
24,754
27,135
6,983
11,533
18,519
57,897
791.9
13,584.8
1,546.2
1,921.4
774.6
1,843.5
1,495.1
2,773.5
3,230.5
639.3
1,385.0
1,964.4
5,388.2
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
MOFA's
1982:
All industries
Capital expenditures 3
Parents
MNC's worldwide
1982:
All industries
Research and
development
expenditures
26,139
7,902
14,267
1,634
4,006
566
4,107
1,621
454
1,879
445
1,619
516
1,390
72,142
147,299
478,169
49,251
101,519
19,454
102,548
33,045
88,953
83,399
46,272
45,194
20,457
36,409
12,238
50,201
4,908
12,320
2,481
11,949
2,530
8,232
7,782
1,459
4,773
1,827
1,643
905,003
193,573
540,033
60,547
113,298
17,940
115,540
37,986
99,859
94,864
51,454
52,335
25,424
42,184
72,906
15,129
48,123
6,222
13,478
1,696
11,970
2,475
6,003
6,280
1,818
4,036
2,271
1,529
3,647
316
2,909
140
44,812
1,006
4,119
3,187
458
806
626
1,680
20
29
22
22
28
16
30
16
21
18
21
11
14
7
7,048
212
6,281
196
1,880
70
1,189
416
1,772
759
70
(D)
90
51,459
13,130
30,187
2,741
6,752
1,172
5,556
2,483
5,779
5,704
715
1,670
2,416
3,342
5,114.0
206.2
3,664.1
337.3
626.1
158.6
655.1
386.1
747.5
753.4
148.4
300.4
314.6
480.4
20
32
25
21
32
16
41
19
21
20
18
10
16
6
10,417
61,235
16,435
35,113
3,332
8,314
1,722
6,302
2,768
7,172
5,503
711
2,493
2,421
4,061
5,203.8
195.1
3,741.0
386.8
642.7
136.6
659.1
418.5
758.5
738.8
181.4
273.3
304.0
508.9
n.a.
212
9,545
228
2,334
134
3,122
525
2,291
911
88
283
90
198
n
n
MOFA share of worldwide MNC total (percent)
5,022.4
374.8
3,714.5
424.9
668.1
246.8
514.1
487.7
644.7
728.3
125.8
312.2
127.3
367.8
806
35
351
175
954
448
24
(D)
6
12,973
5,612
11,320
6,448
581
(D)
888
19,396
21,844
2,177
3,793
1,453
6,110
21
23
26
30
33
20
26
23
28
23
24
24
11
7
21
26
27
23
33
19
34
26
26
22
25
21
16
9
1990:
All industries
Petroleum
Manufacturing
Food and kindred products
Chemicals and allied products
Primary and fabricated metals
:
Machinery, except electrical
Electric and electronic equipment
Transportation equipment
Other manufacturing
Wholesale trade
Finance (except banking), insurance, and real estate
Services
Other industries
.
* Undefined.
Suppressed to avoid disclosure of data of individual companies.
n.a. Not available.
1. Measures sales by parents and affiliates, excluding sales among parents and affiliates that belong to the same
D
2. The MOFA share of MNC net income must be interpreted with caution because parents' net income includes
the parents' shares of their affiliates' net income. Thus, this amount is double-counted in the denominator of the
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
22
25
28
25
33
18
36
28
27
23
28
20
15
9
ratio. For this reason, the ratio will be somewhat understated; likewise, any increase or decline in the ratio will
be somewhat understated (assuming that both the numerator and denominator are positive).
3. The data on capital expenditures by MOFA's are based on BEA's semiannual survey of capital expenditures
by MOFA's.
MNC Multinational company
MOFA Majority-owned foreign affiliate
SURVEY OF CURRENT BUSINESS
while in most major foreign markets (especially
in Europe and Mexico) car sales were rising.
In addition, U.S. parent companies faced more
competition from Asian producers than did their
MOFA'S in Europe and Mexico. In response to
these unfavorable domestic market conditions,
U.S. parents in the auto industry offered substantial rebates and other costly consumer incentives
in the United States. These incentives—which
generally were not used in foreign markets-—
tended to make the domestic operations of MNC'S
less profitable than their MOFA operations.9
In nonelectrical machinery manufacturing, the
MOFA share of MNC net income increased from
35 percent in 1982 to 57 percent in 1990. The
increase reflected the less favorable domestic
market conditions in the computer industry.
In "other" manufacturing, the MOFA share increased from 16 percent to 37 percent; the increase
was accounted for by changes in the tobacco and
textile industries. In the tobacco industry, U.S.
parents' net income fell from $2.2 billion in 1982
to $0.9 billion in 1990, while MOFA net income increased from $0.3 billion to $1.0 billion. Parents'
net income was constrained by interest expenses
related to the sizable debt assumed in connection
with leveraged buyouts during the late 1980'$. In
the textile industry, the MOFA share of MNC net
income increased from 5 percent in 1982 to 82
percent in 1990; one contributing factor was demand for denim jeans, which was more robust
in overseas markets than in the United States.
Research and development expenditures
The MOFA share of worldwide MNC expenditures
for research and development (R&D) increased
slightly, from 9 percent in 1982 to 13 percent in
1990.10 Almost all R&D expenditures occurred in
manufacturing. Within manufacturing, the MOFA
share in nonelectrical machinery (mainly in computers) increased substantially (up 13 percentage
points). This increase occurred at the end of the
decade and reflected both the faster growth in
foreign operations than in U.S. operations and
the introduction of U.S. computer manufacturers to foreign research consortia as they sought
to share the cost of developing new technologies.
9. Rebates are considered a marketing expense, rather than a reduction
in selling prices, on the books of U.S. automakers. Thus, on a per-unit basis,
rebates do not affect sales revenue, but they do raise costs and diminish
profit margins. Therefore, while the MOFA share of sales in transportation
equipment manufacturing was the same in 1982 as it was in 1989 (21 percent),
it would have increased if rebates were deducted from parents' sales.
10. The definition that is used for R&D expenditures is from the Financial
Accounting Standards Board Statement No. 2; the estimates of these expenditures include all charges for R&D performed for the benefit of the MNC by
the MNC itself and by others on contract.
The MOFA share also increased in primary and
fabricated metals, chemicals and allied products,
food and kindred products, and electric and electronic equipment. In transportation equipment
and "other" manufacturing, the MOFA share was
essentially unchanged.
Capital expenditures
U.S. MNC'S allocated an increasing portion of
their capital budgets to their MOFA'S during the
past decade. The MOFA share of worldwide MNC
capital expenditures increased from 18 percent in
1982 to 22 percent in 1990. Much of the growth
was accounted for by parents in petroleum, electric and electronic equipment manufacturing,
and FIRE. In petroleum, declining oil prices led
U.S. parents to concentrate their expenditures
for exploration and development abroad, where
accessible oil deposits were larger and could
be developed profitably despite low prices. In
electric and electronic equipment, U.S. parents
increased their overseas presence to take advantage of expanding consumer markets in Europe
and to reduce costs by establishing production
facilities in the Far East. In FIRE, the growth
partly reflected the establishment of brokerage affiliates in Europe and Japan, as host governments
liberalized their securities exchanges.
U.S. Merchandise Trade
U.S. merchandise exports associated with U.S.
MNC'S—the sum of goods shipped to affiliates
by all U.S. persons and goods shipped to unaffiliated foreigners by U.S. parents—increased 5
percent to $248.5 billion in 1990 (table 7). Exports
shipped by U.S. parents to unaffiliated foreigners
accounted for 51 percent of the increase. Within
this category, sales of passenger aircraft to foreign
airlines fully accounted for the increase.
U.S. merchandise imports associated with U.S.
MNC'S—the sum of goods shipped by affiliates
to all U.S. persons and goods shipped by unaffiliated foreigners to U.S. parents—increased 6
percent to $214.4 billion. Imports shipped by
unaffiliated foreigners to U.S. parents accounted
for two-thirds of the increase. Within this category, the rising cost of petroleum imports fully
accounted for the increase.
As in past years, trade associated with U.S.
MNC'S accounted for a large share of U.S. merchandise trade in 1990—63 percent of total U.S.
exports (down from 65 percent in 1989) and 43
August 1992 •
67
SURVEY OF CURRENT BUSINESS
68 • August 1992
Table 7.—U.S. Merchandise Trade Associated with Nonbank
U.S. MNC's, 1989 and 1990
percent of total U.S. imports (up from 42 percent
in ipSp).11
[Millions of dollars, except where noted]
Sales by Type and by Destination
1989
1990
MNC-associated U.S. lexports, total . ...
Shipped to affiliates
To MOFA'S
By U S parents
By unaffiliated U.S. persons
To other affiliates2
Shipped to other foreigners by U S parents
Of which:
Shipped to foreign parent groups of U.S. parents 3
236,371
102558
97488
86050
11,437
5,070
133813
248,483
108390
10,413
14,326
MNC-associated U.S.] imports, total
Shipped by affiliates
By MOFA'S
To U S parents .
To unaffiliated U S persons
By other affiliates2
Shipped by other foreigners to U S parents
Of which:
Shipped by foreign parent groups of U.S. parents 3
201,182
97,394
84298
71,283
214,388
102,484
88607
75364
13243
13877
13015
13096
103788
101 661
89649
12,012
6,729
140093
1 1 1 904
32,398
37,406
All US merchandise exports
MNC-associated U.S. exports as a share of total
(percent)
.
363 820
392 923
65
63
All U S merchandise imports
MNC-associated U.S. imports as a share of total
(oercenti
473 647
495 200
42
43
Addenda:
1. Reported on foreign affiliates' forms.
2. In the annual survey, U.S. exports shipped to minority-owned foreign affiliates were not
disaggregated by affiliation of shipper, and U.S. imports shipped by minority-owned foreign
affiliates were not disaggregated by affiliation of person to whom the goods were shipped.
3. For U.S. parents that are, in turn, owned 10 percent or more by a foreign person, the
foreign parent group consists of (1) the foreign parent of the U.S. parent, (2) any foreign
person, proceeding up the foreign parent's ownership chain, that owns more than 50 percent
of the person below it, and (3) any foreign person, proceeding down the ownership chain(s) of
each of these members, that is owned more than 50 percent by the person above it.
MNC Multinational company
MOFA Majority-owned nonbank foreign affiliate
Total sales by U.S. parents were $3,278.0 billion
in 1990. By type, sales of goods accounted for
71 percent of total sales, sales of services for 24
percent, and investment income for 5 percent (table 8).12 For MOFA'S, total sales were $1,191.8
billion, with sales of goods accounting for 87 percent of total sales, sales of services for 11 percent,
and investment income for 2 percent. Services
accounted for a notably smaller share of sales for
MOFA'S than for U.S. parents, perhaps because the
overseas presence of MNC'S is relatively smaller
in services than in other industries. In 1989, the
latest year for which data are available, MNC'S in
service industries—chiefly FIRE, "services," and
11. The data on total U.S. exports and imports used for this comparison are on a "Census basis"; exports include re-exports and military grant
shipments. The data are from table 2, lines i and 9, in "U.S. International
Transactions," SURVEY OF CURRENT BUSINESS 72 (June 1992): 88-89.
12. To provide a more accurate measure of sales of services, BEA began
collecting separate data on investment income in its 1989 benchmark survey.
Some parents and MOFA'S, primarily those in finance and insurance, include
such income in sales or gross operating revenues, and BEA had previously
recorded it as sales of services. Most parents and MOFA'S not in finance
or insurance consider investment income an incidental revenue source and
include it in their income statements in a separate "other income" category,
rather than in sales.
Table 8.—Sales of Goods and Services by, and Investment income of, Nonbank U.S. Parents and Foreign
Affiliates, 1989 and 1990
[Millions of dollars]
198 9
Total
Goods
199(
InvestServices ment income
Total
Goods
)
InvestServices ment income
U.S. parents
All nonbank parents of nonbank affiliates
To U.S. persons
To foreign persons
.
To foreign affiliates
To other foreign persons
3136837 2 204 073 786 491
2,841,052 1 ,942,709 759,359
295,785 261 364 27133
130487 119719
6511
165,298 141,645 20622
146273 3 277 961 2313102
138,984
n.a.
n a.
na
7289
na
na
4257
na
3032
n a.
n.a.
794 803
766,521
28282
9024
19,258
170057
n.a.
n.a.
na
n.a.
Foreign affiliates
1,284,894
n.a.
n.a.
1,019,966
889,875
246 166
773 800
221 818
668 057
109631
18862
90769
To the United States
To U S parents
To unaffiliated U.S persons
114719
92,968
21,751
100701
84,231
16,470
10405
6057
4348
To foreign countries
To otner foreign affiliates
To unaffiliated foreign persons
905 247
153,198
752,049
789174
137587
651,587
99226
12805
86420
16847 1 068 030
188254
2806
14042 879,776
Local sales
.
To other foreign affiliates
To unaffiliated foreign persons
690,528
591,004
30853
85371
6794
78577
14153
1 373
795 244
37857
672,924
30850
12780
757 387
642 074
Sales to other countries
To other foreign affiliates
To unaffiliated foreign persons
214,719
114178
100,541
198,170
106734
91,436
13,855
2,695
6011
7,844
1 433
1,261
272,787
150397
122,389
264 928
na
na
na
289112
All nonbank affiliates of nonbank parents
Majority-owned affiliates
To affiliated persons
To unaffiliated persons
Minority-owned affiliates
n.a. Not available.
39 020
651 508
560 151
n.a. 1 ,480,944
n.a.
n.a.
n.a.
20460 1 191 832 1,035,805
5485 286 829 260 203
14974 905 003 775 602
130,898
20802
110097
25,128
5824
19305
108343
88493
19850
12255
7505
4749
3203
2576
927 462
171 710
118643
13296
105,347
21 925
104,097
5655
98,442
18,223
254,538
140860
113,678
14,546
3,702
7,641
6,905
1,896
1,806
na
na
na
3613
123 801
2680
98574
25227
933
755,752
627
3248
18,677
1,352
16,871
SURVEY OF CURRENT BUSINESS
"other" industries (which includes air transportation and telecommunications)—generated about
9 percent of their sales to unaffiliated persons
through their MOFA'S, compared with 20 percent
for MNC'S in all industries combined.
For MOFA'S, each type of sales was disaggregated by destination. (For parents, only sales of
services were disaggregated by destination.) In
1990, MOFA'S sold $795.2 billion, or 67 percent, of
their output locally in their host countries; $272.8
billion, or 23 percent, to other foreign countries;
and $123.8 billion, or 10 percent, to the United
States.
Local sales were most important, and sales
to "other" foreign countries least important, to
MOFA'S in "other" industries, because that industry is dominated by retail trade affiliates, which
rely almost exclusively on local markets. Local
sales were least important, and sales to "other"
foreign countries most important, in manufacturing, where operations tend to be integrated
across foreign countries to a greater extent than
August
Data Availability
Only summary data are published in this article. Estimates of U.S. MNC operations in greater detail are
available for 1977 and for 1982-90 in publications and,
for all years except 1977, on computer-readable media (tape or diskette). For information on ordering
publications, call (202) 523-0777; for information on
computer media, call (202) 523-0568. Publications presenting the 1989 final benchmark survey results and the
preliminary estimates for 1990 will be available later this
year; their availability will be announced on the inside
back cover of the SURVEY OF CURRENT BUSINESS.
in other industries, thus generating relatively
more cross-border intrafirm sales.
Sales to the United States were most important to petroleum affiliates. Sales to the United
States were least important to affiliates in wholesale trade and services, which mainly serve local
markets.
Tables 9.1 through 13.2 follow. S
• 69
SURVEY OF CURRENT BUSINESS
August 1992
Table 9.1 .—Selected Data for Nonbank U.S. Parents, by Industry of U.S. Parent, 1989
Millions of dollars
Sales
Total assets
Services
Investment income
Net income
Capital
expenditures
Research
and development
expenditures
Employee
compensation
Number
of employees
(thousands)
Total
Goods
4,852,373
3,136,837
2,204,073
786,491
146,273
170,663
201,808
59,925
666,196
18,765.4
454,269
11,577
8,681
2,895
398,156
309,941
305,325
2,320
18,050
957
5,613
23
15
8
5,582
762
4,820
0
21,501
189
320
-131
19,453
18,905
(D)
(D)
1,782
77
26,790
1,033
905
128
22,627
22,298
2,213
8
0
8
2,133
579.8
17.3
7.2
10.1
508.2
483.8
.236
l
%0
27,140
723
389
335
24,109
22,680
42,050
2,486
328,989
3,300
2,364
936
289,091
265,255
(°)
(D)
36,051
546
1,876,167
1,553,374
1,429,930
98,662
178,249
30,588
44,991
102,671
190,617
33,306
36,253
121,059
9,361
1,780
3,371
4,209
Chemicals and allied products
Industrial chemicals and synthetics
Drugs
Soap cleaners and toilet goods
Agricultural chemicals
Chemical products, nee
297,291
142,606
78,838
48,254
8,079
19,514
Primary and fabricated metals
Primary metal industries
Ferrous
Nonferrous
Fabricated metal products
All industries
Petroleum
Oil and gas extraction
Crude petroleum extraction (no refining) and natural gas
Oil and gas field services
Petroleum and coal products
Integrated petroleum refining and extraction .
Petroleum refining without extraction
Petroleum and coal products, nee
Petroleum wholesale trade
Other
.-
,
8
Manufacturing
8
272,345
255,230
(D)
(°)
30,660
0
n
(D)
11,164
9,263
(°)
(D)
5,391
539
r
)
n
n
2,894
{D
8
n
2,161
145
(D)
50.7
3.6
51,699
393,495
10,127.0
1,048
309
132
607
28,633
5,023
7,547
16,063
1,135.8
224.4
330.8
580.6
36,705
185,730
33,093
35,635
117,003
86,739
4,507
213
593
3,702
380
0
25
355
89,275
13,079
2,075
4,647
6,357
235,731
108,869
58,257
42,678
5,864
20,063
228,407
104,238
57,945
41,142
5,715
19,366
6,736
4,244
311
1,381
115
684
588
387
0
155
33
13
22,703
9,063
9,759
2,264
326
1,291
20,295
11,424
4,901
1,965
591
1,414
13,414
4,676
7,041
960
61
677
54,004
24,001
16,254
8,164
935
4,651
1,255.0
528.8
371.1
216.9
22.9
115.3
106,001
63,500
20,427
43,074
42,501
104,727
58,921
22,039
36,881
45,807
98,897
54,972
P)
5,783
3,902
(°)
(D)
1,881
47
47
7
40
0
5,626
3,963
993
2,970
1,663
5,402
3,793
1,220
2,573
1,608
885
474
113
360
411
26,562
14,884
5,958
8,926
11,678
684.6
344.9
124.4
220.4
339.7
212,661
(°)
23,370
121,954
H
171,239
17,306
24,038
87,484
42,411
148,748
15,866
23,784
68,652
40,447
21,200
1,291
T
994
(D)
9,727
1,013
1,184
5,903
1,626
11,535
255
17,838
(D)
n
12,973
343
561
11,148
921
56,649
4,455
5,882
33,299
13,012
1,249.9
100.5
164.2
609.6
375.7
Electric and electronic equipment
Household appliances
Radio television and communication equipment
Electronic components and accessories
Electrical machinery, nee
216,626
10,579
150,253
25,555
30,239
146,277
12,063
81,179
22,457
30,578
128,311
12,063
(°)
21,877
(°)
8,880
0
(D)
579
(D)
9,086
0
9,085
1
0
7,312
365
4,751
880
1,315
1 1 ,004
571
7,287
1,861
1,284
5,612
129
2,878
1,636
969
40,398
2,658
21,054
7,189
9,498
1 ,093.3
84.8
497.6
212.7
298.3
Transportation equipment
Motor vehicles and equipment
Other
451,142
342,050
109,092
361,979
238,419
123,560
323,857
207,614
116,243
13,712
6,803
6,909
24,410
24,002
408
13,429
9,093
4,336
18,642
12,972
5,670
11,320
6,874
4,445
94,585
49,484
45,102
2,104.4
1,046.9
1,057.5
Other manufacturing
Tobacco products
Textile products and apparel
Lumber, wood furniture and fixtures
Paper and allied products
Printing and publishing
Rubber products
Miscellaneous plastics products
Glass products
Stone clay and other nonmetallic mineral products
Instruments and related products
Other
414,198
58,529
24,223
34,613
72,449
68,174
16,857
11,798
13,558
15,727
88,512
9,758
342,804
27,527
26,331
33,741
68,213
50,762
15,533
12,583
9,513
13,385
75,230
10,006
315,980
24,988
26,115
903
641
67,144
39,204
15,382
12,524
8,519
13,229
66,168
(D)
25,922
1,898
216
(°)
1,034
11,407
151
35
988
156
9,008
(°)
17,399
408
982
1,885
5,265
2,708
292
561
179
410
4,267
444
22,423
879
1,376
2,010
6,965
3,001
860
720
664
959
4,473
515
6,448
233
93
151
1,120
79
190
153
181
153
3,936
160
92,664
4,505
6,952
6,853
16,177
12,777
4,922
3,202
3,444
3,261
27,980
2,591
2,604.0
150.3
321.4
220.3
381.6
365.1
132.6
102.8
102.3
86.1
651.8
89.5
97,985
51,155
46,830
226,707
104,206
122,501
216,963
100,723
116,241
8,675
3,142
5,533
1,068
341
727
4,953
2,729
2,223
581
473
107
13,982
6.815
7,167
434.2
205.7'
228.5
1,620,415
513,981
1,100,512
4,062
1,861
394,461
74,507
317,757
2,198
0
15,033
285,087
(D)
240,015
(D)
0
94,342
29,778
64,422
143
0
2,871
767
2,104
24,559
5,229
19,123
102
105
7,581
1,663
5,862
(°)
80
46,830
14,193
32,454
177
6
1,107.6
232.4
870.8
4.4
135,127
15,771
36,784
6,523
634
13,662
15,965
14,391
23,000
19,663
6,810
1,157
17,551
106,517
10,972
31,571
3,992
313
11,481
15,785
8,657
11,528
16,560
5,891
1,902
19,435
13,375
(D)
3,655
91,763
(°)
27,758
(D)
(°)
10,146
13,445
7,706
7,335
16,421
5,048
1,902
(D)
1,379
0
159
0
0
43
115
(D)
1,144
6,491
337
1,453
155
25
70
1,202
102
1,715
350
-163
43
2,655
13,628
1,500
3,273
162
146
2,017
948
4,915
414
1,396
445
69
1,616
41,414
4,385
14,639
1,985
58
3,921
8,674
1,948
1,863
6,142
2,695
1,172
8,569
1,700.0
288.3
645.9
41.3
1.6
99.6
503.4
72.7
57.7
270.1
62.9
15.1
287.3
668,411
1,041
9,089
6,916
2,173
14,825
119,344
353,103
171,008
526,789
831
5,991
4,172
1,819
26,818
111,995
183,871
197,284
223,447
25,965
104
516
446
70
387
4,215
16,281
4,461
50,194
56
1,089
834
255
692
12,324
29,735
6,299
143,335
202
1,310
828
482
6,417
42,292
55,634
37,479
4,816.7
6.9
30.5
19.3
11.2
189.1
1,039.1
1,177.0
2,374.1
Food and kindred products
Grain mill and bakery products
Beverages
Other
.....
.
.
Machinery except electrical
Farm and garden machinery
Construction, mining, and materials handling machinery
Office and computing machines
Other
' . ..
.'
.
Wholesale trade
Durable goods
Nondurable goods
Finance (except banking) insurance, and real estate
Finance except banking
Insurance
Real estate
Holding companies
Services
Hotels and other lodging places
Business services
Advertising
Equipment rental (ex automotive and computers)
Computer and data processing services
Business services nee
Automotive rental and leasing
Motion pictures including television tape and film
Health services
Engineering architectural and surveying services
Management and public relations services
Other
Other industries
Agriculture forestry and fishing
Mining
Metal mining
Nonmetallic minerals
Construction
Transportation
Communication and public utilities
Retail trade
.
.
..
..
.
13
Suppressed to avoid disclosure of data of individual companies.
* Less than $500,000.
.
..
n
43,926
n
n
n0
13,320
(°)
n
1,292
2,225
n
3,049
(°)
798
0
(D)
8
8
19,387
2,278
24,159
170,990
n
296,177
(°)
(D)
(D)
(D)
7,157
109,380
159,188
20,263
n
0
35
151
0
3
6
0
55
12
n
45
0
(D)
7,166
n0
0
0
275
337
523
6,031
1,232
7,918
n
n
0
888
0
736
0
1
683
53
0
n
11
0
140
(D)
n
20
(°)
n
51
52
3,280
21
SURVEY OF CURRENT BUSINESS
August 1992 •
Table 9.2.-Selected Data for Nonbank U.S. Parents, by Industry of U.S. Parent, 1990
Millions of dollars
Net income
Capital
expenditures
Research
and development expenditures
Sales
Total assets
All industries
Petroleum
Oil and gas extraction
Crude petroleum extraction (no refining) and natural gas
Oil and gas field services
Petroleum and coal products
Integrated petroleum refining and extraction
Petroleum refining without extraction
Petroleum and coal products nee
Petroleum wholesale trade
Other
.
. . . .
Employee
compensation
Number
of employees
(thousands)
Total
Goods
Services
Investment income
4,969,374
3,277,961
2,313,102
794,803
170,057
137,352
221,200
72,802
690,225
18,549.9
473,678
17,020
12,134
4,886
410,749
327,947
(°)
(D)
43,503
2,406
395,235
6,312
3,292
3,020
344,847
316,776
23,105
2,482
847
51
50
1
790
32,740
2,924
2,655
269
26,181
26,021
D
2,422
71
0
71
2,243
28,760
1,578
506
1,072
24,650
631
371,283
3,779
(D)
(D)
327,395
.307,286
(DD)
( )
40,110
0
8
43,446
8
8
16,663
0
7
20,400
-172
-269
98
19,377
18,818
(DD)
( )
1,119
76
80
()
(D)
3,549
86
i.fi
596.8
35.6
9.0
26.6
504.7
(D)
17.1
0
(°)
2,386
146
50
3.8
{n
l
III
1,916,858
1,573,414
1,444,604
3,S
623
93,655
35,155
67,249
103,214
64,150
402,174
9,843.8
Food and kindred products
Grain mill and bakery products
Beverages
Other
184,946
30,267
47,852
106,828
204,253
34,588
40,390
129,275
199,725
34,572
39,479
125,674
4,159
16
838
3,305
368
0
73
295
12,760
1,633
6,110
5,017
15,727
2,125
8,830
4,772
1,032
220
144
668
29,985
5,443
8,312
16,230
1,159.4
226.6
349.7
583.1
Chemicals and allied products
Industrial chemicals and synthetics
Drugs
Soap, cleaners, a n d toilet goods
Agricultural chemicals
Chemical products, nee
Primary and fabricated metals
Primary metal industries
Ferrous
Nonferrous
Fabricated metal products ...
Machinery, except electrical
Farm and garden machinery
Construction, mining, and materials handling machinery
Office and computing machines
Other
309,236
153,159
80,407
46,796
8,339
20,534
92,564
52,641
18,741
33,900
39,923
215,211
(°)
20,831
129,161
(D)
236,613
10,872
167,587
25,898
32,256
454,198
341,650
112,548
247,797
112,657
64,219
45,576
5,259
20,086
94,693
51,145
19,340
31,805
43,548
177,028
18,752
18,236
96,400
43,639
239,157
107,975
63,091
43,651
5,192
19,247
90,877
49,685
19,099
30,586
41,192
152,962
17,410
17,551
77,140
40,861
8,465
4,682
1,128
1,756
67
831
3,757
1,411
232
1,179
2,346
22,709
(DD)
( )
18,453
2,778
176
0
0
168
0
8
20,772
11,309
5,475
2,105
572
1,311
13,887
5,042
6,989
1,125
70
662
57,274
25,628
17,076
8,781
948
4,840
1,278.7
535.5
385.0
216.3
28.0
113.9
5,620
3,754
1,113
2,642
1,865
1,415
895
109
786
520
26,410
13,957
5,688
8,270
12,453
638.0
299.3
114.6
184.7
338.7
11,348
13,926
366
402
12,171
987
56,410
4,549
5,057
33,884
12,920
1,184.4
99.8
121.8
618.0
344.8
153,030
11,303
86,517
22,581
32,628
355,508
221,012
134,496
341,107
26,548
26,132
26,599
72,405
55,135
17,457
13,585
9,491
11,401
71,146
11,207
130,239
(D)
66,407
22,190
(D)
317,230
190,731
126,499
314,414
23,839
25,960
(D)
70,239
43,037
13,408
(DD)
( )
389
(D)
15,824
8,366
7,458
25,332
1,963
172
(D)
2,166
11,938
10,534
308
6,656
2,055
1,514
9,031
108
5,792
2,248
883
42,577
2.485
22,810
7,037
10,244
1,076.6
72.7
497.7
201.1
305.0
17,582
1 1 ,949
5,633
17,064
10,001
7,062
99,033
51 ,662
47,370
2,015.0
993.8
1,021.2
8,379
11,183
64,162
10,919
1,112
181
6,592
266
(D)
22,454
21,914
539
1,360
747
0
0
0
160
0
3
0
36
392
22
21,651 '
7,094
10,304
2,508
284
1,460
2,611
1,741
214
1,528
869
8,953
1,000
689
6,432
832
6,324
347
3,755
741
1,481
4,058
-640
4,697
21,632
. 797
1,161
1,079
7,440
2,939
1,223
947
473
967
4,062
545
7,796
237
75
72
1,246
70
487
172
169
151
4,866
249
90,484
4,250
6,675
5,901
17.233
13,413
5,190
3,429
3,383
2,790
25,173
3,047
2,491.7
141.0
301.2
190.9
398.1
380.3
136.2
102.5
97.3
71.0
573.9
99.3
239,470
115,060
124,410
399,366
70,310
(ID)
2,429
232,079
109,572
122,507
5,736
4,490
1,246
1,655
998
657
6,272
3,900
2,372
720
595
125
14,826
7,530
7,296
457.9
225.6
232.3
15,613
(D)
14,056
258,489
41,473
214,735
2,281
0
125,264
(D)
(DD)
(D)
()
236
0
200
0
0
(DD)
( )
0
2
30
4
0
0
10,893
946
66
1,036
4,316
1,473
-468
421
152
-473
2,923
499
2,532
899
1,632
14,992
1,349
-S
()
9,040
1,831
7,121
87
0
1,285
86
(D)
0
(D)
49,376
14,488
34,690
187
11
1,111.7
224.6
882.8
4.1
.2
6,693
-85
2,057
165
44
880
969
109
383
247
654
-25
3,352
16,098
1,741
5,436
104
122
4,113
1,097
5,297
424
1,326
357
78
1,439
912
45,570
4,260
15,710
1,971
61
4,526
9,152
1,974
1,838
7,090
4,192
1,385
9,122
1,660.4
264.2
619.4
36.9
1.8
109.6
471.2
70.3
49.6
275.7
88.7
17.4
275.2
25,487
154
1,017
989
28
665
1,809
16,884
4,958
53,836
56
916
694
222
373
13,640
32,131
6.720
3,312
59
24
H
(°)
(D)
149,518
200
1,504
1,000
505
6,595
45,134
58,714
37,371
4,879.3
7.1
33.5
22.4
11.1
204.6
1,071.9
1,228.7
2,333.5
Manufacturing
Electric and electronic equipment
Household appliances
..
.
Radio, television, and communication equipment
Electronic components and accessories
Electrical machinery, nee
Transportation equipment
Motor vehicles and equipment
Other
Other manufacturing
Tobacco products
....
.
Textile products and apparel
Lumber wood furniture and fixtures
Paper and allied products
Printing and publishing
Rubber products
.
Miscellaneous plastics products
Glass products
Stone clay and other nonmetallic mineral products
Instruments and related products
Other
.
.
.
..
...
.
.
D
Suppressed to avoid disclosure of data of individual companies.
* Less than $500,000.
.
.
.
.
...
. . . . . . . .
..
Wholesale trade
Durable goods
Nondurable goods
.
. . . . .
Finance (except banking) insurance and real estate
Finance except banking
Insurance
. ..
....
Real estate
Holding companies
Services
.
Hotels and other lodging places
Business services
Advertising
Equipment rental (ex automotive and computers)
Computer and data processing sen/ices
Business services nee
Automotive rental and leasing
Motion pictures including television tape and film
Health services
Engineering architectural and surveying services
....
Management and public relations services
Other
Other industries
Agriculture forestry and fishing
Mining
Metal mining
Nonmetallic minerals
Construction
Transportation
Communication and public utilities
Retail trade
.
.•
...
•
•
424,088
54,059
20,050
23,697
88,405
77,617
19,279
12,911
13,288
15,103
86,957
12,725
115,191
64,084
51,107
1,609,457
479,929
1,121,121
6,390
2,018
140,660
15,996
39,967
7,325
825
15,138
16,679
13,864
24,983
20,009
6,589
1,249
18,003
713,530
1,185
10,024
7,667
2,357
14,620
124,310
377,257
186,134
n
118,791
11,198
33,926
3,969
431
12,440
17,085
8,876
10,833
18,905
12,170
2,223
20,659
551,685
890
6,810
4,818
1,991
23,903
122,977
191,012
206,094
8
(D
^
15,920
(D)
3,388
0
(°)
(D)
n
D
( )
2,816
108
4,211
0
621
233,601
793
6,674
4,715
1,959
17,424
2,759
27,065
178,886
8
102,635
(D)
30,338
3,969
8
14,729
(D)
8,016
18,767
7,955
2,223
20,038
311,184
96
127
104
24
6,422
(D)
163,326
(D)
59
49
9
40
10
1,356
(DD)
( )
806
0
9,383
0
(D)
6,900
(
'l
0
9
57
(°)
620
(D)
D
n
1,082
7,509
n-
(D)
738
(D
638
^
T
§0
(D)
n
3,003
29
72 • August 1992
SURVEY OF CURRENT BUSINESS
Table 10.—Selected Data for Nonbank Foreign Affiliates, by Country and by Major Industry, 1989 and 1990
1989
1990
Millions of dollars
Total assets
All countries, all industries
Canada
Europe
Austria
Belgium
Denmark
Finland
France
Germany1
Greece
Ireland
Italy .
Luxembourg
Netherlands
Norway
Portugal
Spain
Sweden
Switzerland
Turkey
United Kingdom ..
Other
Latin America and Other Western Hemisphere
South America
Argentina
Brazil
Chile
Colombia
Ecuador
Peru
Venezuela
.
.
Other
Central America
Costa Rica
Guatemala
Honduras
Mexico
Panama
Other
Other Western Hemisphere
Bahamas
Barbados
Bermuda
Dominican Republic
Jamaica
Netherlands Antilles
Trinidad and Tobago
United Kingdom Islands Caribbean
Other
Africa
Egypt
Nigeria
South Africa
Other
Middle East
Israel
Saudi Arabia
United Arab Emirates
Other
Asia and Pacific
Australia
China
Hong Kong
India
Indonesia
japan
Korea Republic of
Malaysia
New Zealand
Philippines
Singapore
...
Taiwan
Thailand
Other
International2
Sales
Net income
U.S. exports
shipped
to affiliates
1,330,028 1,284,894
194,774
184,428
667,852
663,761
7,581
7,358
33,441
30,842
4,420
4,271
3,001
1,608
81,542
57,982
134,523
102,112
1,973
929
11,567
13,136
57,234
40,317
1,542
2,650
57,298
68,011
11,092
9,160
3,552
2,308
28,269
22,558
8,944
5,274
40,144
37,467
2,402
1,428
183,324
250,975
609
766
165,697
112,611
57,282
50,787
4,901
4,742
38,872
32,159
2,132
2,956
4,201
4,050
616
(D)
1,152
1,696
3,773
3,908
660
(D)
33,851
33,909
796
581
734
405
622
1,190
28,672
20,957
1,963
1 1 ,035
495
309
21 ,478
81,002
3,834
1,565
857
861
11,985
37,979
(D)
(D)
1,294
1,606
2,839
28,761
848
1,332
719
5,217
D
(D)
( )
15,289
14,651
2,027
2,754
2,329
2,497
4,422
2,266
7,134
6,511
14,901
21,745
2,498
3,551
8,542
13,630
2,504
1,800
2,061
2,060
283,324
256,439
49,012
55,610
111
1,741
17,507
15,432
1,888
1,245
6,269
7,711
145,685
133,635
10,218
9,941
5,709
5,245
(D)
3,768
3,150
16,089
11,452
8,314
6,761
6,139
3,931
(D)
(°)
6,489
12,962
85,342
8,103
45,498
377
1,898
183
135
2,936
5,843
37
3,081
2,131
290
6,991
861
210
2,503
401
5,566
71
11,926
57
14,942
4,896
-402
4,796
261
36
(D)
-61
124
(D)
3,905
42
7
27
2,175
1,679
-25
6,141
277
139
3,395
(D)
344
1,171
27
567
(D)
878
308
222
30
319
1,328
189
944
84
111
13,965
3,033
-50
1,786
64
1,268
4,193
256
384
(D)
285
1,159
792
513
(D)
628
102,558
38,173
30,435
174
2,337
147
92
3,681
5,284
47
1,307
1,807
103
3,712
163
95
1,785
497
1,248
22
7,922
14
12,598
3,192
312
1,563
165
(D)
114
69
519
(D)
8,445
(D)
56
153
7,693
232
(D)
960
439
17
125
40
(D)
27
99
(D)
36
(D)
131
43
212
(D)
459
146
175
71
67
20,170
3,294
122
2,236
43
155
8,395
792
984
246
259
2,237
877
461
69
(D)
228,337
659,728
70,203
115,857
26,411
113,409
64,091
165,422
104,335
222,237
59,957
39,208
75,427
9,742
40,899
3,864
9,730
2,107
7,493
3,667
6,682
7,355
8,425
20,100
2,871
3,304
2,512
70,187
2,170
8,255
1,928
12,078
8,602
28,814
8,339
27,886
3
467
1,503
n
U.S. imports
shipped
by affiliates
Employee
compensation
Number
of employees
(thousands)
165,804
28,201
90,395
1,056
4,678
763
328
14,054
2,141
21,267
21
199
1,008
639
8,909
686
107
286
4,926
931
1,077
113
358
31
765
4,263
1,400
(D)
2,616
498
37
198
5,282
22,965
1
43
12,836
11,775
8,312
3,166
662
186
6,068
198
464
71
96
199
59
28 ,537
113
3,962
7,616
130
59
82
26
125
138
3,417
7,283
174
123
21
993
561
8
165
21
3
8
93
52
69
D
83
( )
14
51
(D)
31
(D)
9
35
1,020
2,305
86
1,349
42
484
20
407
931
3,317
789
473
261
2,646
79
280
119
(D)
29,337
26,775
7,568
64
3,087
1,031
180
18
388
630
15,756
11,116
1,017
925
1,317
356
427
82
428
396
866
5,148
1,764
905
787
266
116
(°)
7
698
6,622.1
955.2
2,699.1
29.2
131.7
19.8
7.4
400.9
556.6
13.4
42.9
185.5
8.0
131.0
27.4
23.8
150.7
36.8
49.7
16.8
865.1
2.2
1,307.9
648.3
60.3
440.1
18.6
39.4
9.3
13.8
60.1
6.7
613.5
23.6
17.7
21.5
527.2
20.3
3.1
46.1
8.7
1.5
2.6
18.1
8.7
.5
2.6
1.5
1.8
116.8
12.6
7.0
36.0
61.2
92.0
24.0
61.3
2.5
4.2
1,422.0
396.8
10.6
78.9
37.9
38.8
392.2
70.9
55.2
21.7
100.0
78.4
65.8
60.8
13.8
29.1
11,279
104,954
9,045
15,805
4,796
19,978
13,524
21,837
19,970
19,586
6,135
11,749
12,101
285.2
4,191.1
483.5
580.4
222.9
557.4
659.7
823.2
863.9
533.2
165.7
481.5
965.3
97,394
40,865
14,878
62
986
161
$
n
n
n
<1
Millions of dollars
Total assets
Sales
Net income
1,552,717 1,480,944
189,734
197,343
797,925
832,183
9,413
7,021
39,152
41,403
5,482
5,418
3,533
2,082
101,738
78,413
164,866
125,720
2,589
1,119
13,501
14,469
59,469
49,611
1,808
3,007
73,234
94,393
10,858
11,933
4,443
2,915
33,690
29,187
12,278
7,201
52,476
48,116
3,440
1,692
204,617
307,129
1,339
1,351
128,005
178,611
64,518
54,037
5,596
5,568
44,518
32,997
2,393
4,166
4,529
4,357
961
632
1,183
1,366
3,754
4,204
1,585
747
36,944
38,135
659
560
681
388
914
564
32,306
25,314
1,766
10,914
619
395
26,543
86,439
1,373
4,540
925
865
16,884
43,529
(D)
(D)
1,292
1,875
2,394
26,603
944
1,380
979
5,809
D
(D)
()
16,504
17,313
2,313
3,016
3,128
3,487
4,175
2,673
6,889
8,138
13,393
20,321
3,008
3,959
5,630
10,796
2,370
2,563
2,804
2,385
328,258
293,880
59,206
53,157
1,329
2,050
19,441
16,654
1,773
1,376
7,070
7,761
165,290
156,192
12,200
12,466
6,885
6,600
(D)
4,205
3,339
28,245
13,523
9,634
8,091
7,608
5,208
D
(D)
()
7,124
13,266
85,052
5,537
49,839
433
2,686
228
128
3,586
6,673
17
4,058
2,864
234
8,766
1,020
267
2,475
609
5,237
108
10,380
71
11,002
1,860
-12
1,375
192
343
17
-334
176
103
3,415
37
41
3
2,223
1,066
46
5,727
347
179
2,556
(D)
193
1,439
109
671
(D)
1,043
454
249
204
137
1,915
309
1,027
162
417
14,588
2,940
10
1,645
61
1,513
3,801
329
503
295,487
741,466
74,813
128,712
28,347
121,681
73,090
191,820
123,002
240,874
69,100
49,346
84,671
13,817
36,975
4,373
9,264
1,355
7,779
3,074
4,445
6,684
8,306
19,905
2,980
3,069
#
1,998
755
512
(D)
1,127
U.S. exports
shipped
to affiliates
U.S. imports
shipped
by affiliates
108,390
37,973
32,892
240
2,426
157
147
4,144
5,980
51
1,207
1,923
188
(D)
124
102,484
41,263
15,702
55
821
176
(*)
2,016
2,542
n
1,009
581
(D)
(D)
8,218
30
13,354
2,784
306
1,136
158
243
108
52
602
179
9,599
120
138
121
8,895
283
42
972
453
38
187
87
84
13
39
17
55
596
162
66
163
205
403
104
192
77
30
23,138
2,901
220
1,966
40
142
9,579
842
957
198
323
4,208
937
707
117
33
Employee
compensation
Number
of employees
(thousands)
182,783
29,228
104,819
1,152
5,510
859
409
17,257
25,859
220
1,141
(D)
8,171
D
334
5,507
71
1,196
434
16
422
5,438
2,304
(D)
2,777
409
284
(°)
25,811
5,619
17
156
14,371
12,664
9,591
958
116
6,805
2,010
114
317
461
443
121
56
382
60
498
71
115
(D)
4,195
8,368
110
66
55
18
102
73
3,739
8,171
166
39
23
585
(D)
165
21
1
95
(D)
52
78
92
366
16
3
56
D
23
87
38
1,035
3,424
5
99
59
2,325
445
59
1,034
432
1,169
915
384
558
414
86
294
111
31,389
28,515
8,085
1,780
125
3
1,167
3,699
163
16
702
388
16,593
10,548
962
1,196
403
1,482
405
33
380
410
1,051
6,313
1,664
981
334
886
17
119
771
1
6,706.3
931.8
2,799.0
26.7
129.1
19.9
8.6
418.1
590.5
10.4
45.5
191.3
7.3
141.2
27.3
25.4
157.1
60.2
54.8
19.5
846.7
19.5
1,333.4
656.8
57.7
445.0
22.0
40.1
9.2
13.7
61.7
7.5
630.0
20.0
11.6
23.6
551.6
19.9
3.4
46.5
8.1
1.5
2.7
18.7
8.7
.5
2.7
1.5
2.1
114.1
11.5
7.6
35.7
59.3
48.15
25.2
16.3
2.8
3.9
1,451.3
385.0
14.4
83.6
38.3
40.6
407.8
71.6
66.1
18.4
98.2
85.8
64.4
64.4
12,6
28.3
10,012
116,561
8,977
17,392
5,250
19,973
15,622
26,364
22,983
21 .798
7,193
13,214
14,005
232,7
4,307.6
452,7
581.1
227.7
556.8
698.7
883.2
907.6
550.8
169.0
477.5
968.9
n
n
()
n
n
n
n
()
8
By major industry
Petroleum
Manufacturing
Food and kindred products
Chemicals and allied products
Primary and fabricated metals
Machinery except electrical
Electric and electronic equipment
Transportation equipment
Other
Wholesale trade
Finance (except banking), insurance, and real estate
Services
Other industries
D
Suppressed to avoid disclosure of data of individual companies
* Less than $500,000.
1. See footnote 1 to table 4.
2. See footnote 1 to table 3.
196,721
492,506
47,220
101,786
23,620
78,702
52,125
98,607
90,446
111,692
419,730
45,490
63,890
10,079
77,372
984
4,845
1,968
12,936
9,352
38,109
9,178
7,675
1
157
2,110
215,854
578,075
57,177
119,871
27,422
88,034
62,224
114,410
108,938
128,490
502,009
53,782
74,507
4,933
71,588
1,648
8,804
2,004
11,898
9,341
28,727
9,166
29,965
8
514
1,383
12,128
80,674
1,289
4,744
2,092
12,778
10,546
39,785
9,442
7,625
9
122
1,927
SURVEY OF CURRENT BUSINESS
August 1992 •
73
Table 11.1.—Selected Data for Majority-Owned Nonbank Foreign Affiliates, by Country and by Major Industry, 1989
Millions of dollars
Sales
Total assets
All countries, all industries
Canada . . . .
Europe
Austria
Belgium
....
Denmark
Finland
France
Germany, Federal Republic of
Greece
Ireland
Italy
Luxembourg
Netherlands
Norway
Portugal
Spain
Sweden
Switzerland
Turkey
United Kingdom
Other
Latin America and Other Western Hemisphere
South America . .
.
Argentina
Brazil
Chile
Colombia
Ecuador
Peru
Venezuela
.
Other
Central America
Costa Rica
Guatemala
.
.
Honduras
Mexico
.
Panama
Other ..
.
Other Western Hemisphere
Bahamas
Barbados
Bermuda
Dominican Republic
Jamaica
..
. . . .
Netherlands Antilles
Trinidad and Tobago ..
United Kingdom Islands Caribbean
Other
'
Africa
Eovot
Nigeria
South Africa
Other
Middle East
Israel
Saudi Arabia
United Arab Emirates
Other
Asia and Pacific
.
Australia
China
Hona Kona
India
Indonesia
Japan
Korea Republic of
Malaysia
New Zealand
Philippines
Singapore
Taiwan
Thailand
.
.
Other
:
International
•
••
Net income
Research
and development expenditures
U.S. exports
shipped
to
MOFA's
imports
shipped
by
MOFA's
U.S.
Employee
compensation
Number
of employees
(thousands)
Total
Goods
Services
Investment income
1,080,247
1,019,966
889,875
109,631
20,460
72,142
7,048
97,488
84,298
132,565
181,108
173,251
152,125
16,626
4,500
7,694
914
37,843
39,575
26,495
903.5
579,701
573,270
507,981
56,482
8,808
40,239
5,178
29,888
14,324
75,722
2,305.7
3,744
27,521
3,855
1,580
47,386
5,550
30,085
4,119
2,968
70,761
4,894
27,298
3,223
2,574
63,251
617
2,527
839
371
7,375
39
260
57
22
135
344
1,653
180
135
2,412
16
317
(D)
168
2,300
137
92
3,542
62
984
151
(D)
1,569
753
4,049
667
314
11,525
83,720
899
13,105
32,907
2,334
54,108
106,366
1,932
'11,415
45,265
1,443
45,408
98,057
1,813
11,013
41 ,376
1,377
39,504
7,336
119
381
3,636
36
5,332
974
0
21
253
31
572
4,950
37
3,084
1,761
236
5,585
1,496
1
134
294
5,203
47
1,305
1,783
103
3,705
2,055
20
617
616
105
918
18,774
196
973
6,016
277
4,345
9,595
1,933
18,103
4,444
38,870
737
234,193
668
7,616
3,311
23,712
7,703
36,231
1,721
167,186
478
7,009
3,029
21,799
6,562
33,292
1,565
139,908
436
599
274
1,596
1,083
2,595
155
21,567
42
8
7
317
58
345
0
5,711
0
706
190
2,018
359
5,475
25
11,033
55
27
3
115
33
67
1
1,673
145
94
1,709
491
1,245
16
7,794
11
108
30
758
(D)
493
37
5,179
1
755
330
3,349
1,095
2,245
115
19,918
28
9.2
749.3
1.2
139,182
87,014
73,048
8,630
5,336
11,537
153
11,236
10,289
10,038
961.6
38,697
3,866
23,909
2,126
3,854
482
1,650
2,163
648
46,323
4,057
30,588
1,981
3,895
578
1,122
2,677
1,425
42,962
3,334
28,809
1,765
3,632
528
1,065
2,423
1,406
2,714
485
1,483
168
199
49
56
254
19
647
237
297
48
64
1
1
1
0
3,083
113
10
90
1
2
2,866
275
1,383
2,632
132
1,799
(D)
367
95
59
23
6,863
507
4,989
178
434
59
195
389
113
513.1
23,572
526
372
611
10,887
10,867
309
21,332
723
672
1,181
16,437
1,825
495
20,215
711
660
1,167
15,580
1,614
482
993
13
12
11
740
205
11
125
0
0
2
116
5
1
2,863
34
-1
27
1,174
1,655
-25
2,706
126
72
138
2,185
165
21
409.9
76,912
3,822
844
35,933
644
1,445
27,983
789
5,053
399
19,359
1,529
832
10,821
578
1,138
2,740
652
667
404
9,872
1,103
460
5,782
(D)
(D)
62
599
223
351
4,923
377
284
3,299
(D)
(D)
196
45
247
52
4,564
50
88
1,739
0
2,483
8
197
0
5,592
253
134
2,957
138
330
1,166
41
547
27
6,791
54
26
125
6,463
123
0
865
8
3
8
52
192
4
(D)
12,003
2,563
2,249
1,604
5,586
11,576
1,871
2,250
2,653
4,802
10,995
1,658
2,187
2,618
4,531
566
213
63
35
255
15
0
0
0
15
911
285
304
160
162
11,495
1,976
5,039
2,455
2,024
8,021
1,042
3,400
1,744
1,835
6,834
654
(D)
1,606
(D)
1,133
362
(D)
110
(D)
53
25
0
28
0
419
74
187
79
80
32
29
1
145,438
36,582
663
14,623
272
7,382
54,100
2,224
4,722
2,657
2,313
10,746
5,052
3,286
816
161,640
37,745
257
16,408
323
6,120
58,420
2,463
5,419
3,153
2,905
15,102
6,773
5,456
1,094
138,892
33,073
218
13,304
286
5,960
47,049
2,185
5,136
2,736
2,574
14,251
6,068
5,077
974
20,999
3,944
39
2,901
37
160
10,761
271
283
385
296
836
620
347
120
1,749
727
0
203
0
760
191
33
36
15
85
32
0
10,781
2,368
-46
1,737
9
1,290
2,348
94
377
76
208
1,128
661
482
48
11,320
5,196
0
5,196
0
560
150,636
371,392
32,968
76,855
19,080
73,006
30,777
6S,831
74,876
105,044
375,570
36,999
40,605
179,420
509,308
50,791
94,652
21,032
100,319
39,678
114,391
88.444
204,295
51,137
32,466
43,342
171,956
493,637
50,439
94,275
20,919
87,632
39,286
113,857
87,229
189,202
18
1,276
33,786
7,450
14,930
163
377
113
12,145
392
534
1,205
14,754
31 ,787
31,154
9,555
14
741
189
0
0
541
0
0
10
338
19,332
36
0
7,659
34,025
2,928
7,713
1,668
7,249
2,461
5,723
6,283
8,141
17,543
2,614
2,160
n
Jl8
n
-265
3,010
229
11
22
-57
27
106
545
n
360
n
n
n9
n
39
i:i
37
81
(
('l
\
0
n0
1
0
11
:
<1
n9
2
2
488
5
3
4
5
25
23
1
n
n
n
296
95
69
445
n
7,445
88
56
153
6,735
230
182
925
439
(D)
125
40
142
26
90
(
S
(D)
127
42
178
D
( )
367
135
97
68
66
17,491
3,236
39
2,222
23
151
6,333
507
973
246
250
2,219
765
458
69
n
n
5,114.0
17.8
114.3
16.9
7.1
333.5
493.7
13.2
40.8
159.7
7.7
115.5
18.5
21.2
120.0
26.0
40.1
48.3
344.5
16.5
36.3
7.0
13.4
40.4
6.7
22.2
16.4
21.4
327.0
19.7
3.1
469
160
17
84
52
57
8
40
27
22
38.7
683
75
39
284
285
80.7
10.4
1,349
15
925
581
150
(D)
280
(D)
2,781
243
2,381
72
86
69.2
11.5
52.1
17,234
1,247
1
3,070
768.3
196.6
3.7
(D)
16,332
5,130
33
865
40
368
6,694
399
334
386
275
818
735
181
74
(*)
514
9,940
65,164
912
4,035
1,899
12,555
9,031
28.659
8,073
7,545
1
108
1,539
9,277
81,732
6,147
13,615
4,135
16,663
7.651
16,598
16,923
18,324
4,928
10,046
8,258
T
2,295
n
630
2,279
488
1,317
81
411
5,143
1,750
778
8.4
1.3
2.2
14.3
6.9
.4
2.1
1.5
1.6
5.8
22.7
41.8
1.9
3.7
58.2
10.2
36.1
131.6
26.4
52.5
20.3
60.7
71.3
53.0
36.6
11.1
25.1
By major industry
Petroleum
Manufacturing
Food and kindred products
Chemicals and allied products
Primary and fabricated metals
Machinery, except electrical
Electric and electronic equipment
Transportation equipment
Other
Wholesale trade
Finance (except banking), insurance, and real estate
Services
Other industries
D
Suppressed to avoid disclosure of data of individual companies.
* Less than $500,000.
1. See footnote 1 to table 3.
176
5,713
190
1,582
77
778
629
1,747
710
554
1
543
60
2,462
66,493
2,078
7,342
1,756
11,682
8,122
27,874
7,639
26,797
1
448
1,286
241.6
3,246.7
307.5
474.6
178.8
507.9
454.7
596.7
726.4
496.1
119.8
404.3
605.5
SURVEY OF CURRENT BUSINESS
74 • August 1992
Table 11.2.—Selected Data for Majority-Owned Nonbank Foreign Affiliates, by Country and by Major Industry, 1990
Millions of dollars
Sales
Total assets
Total
All countries, all industries
Canada
.
Europe
Austria
Belgium
Denmark
Finland
France
Germany l
Greece
Ireland
Italy .
Luxembourg
Netherlands
Norway
Portugal
Spain
Sweden
Switzerland
Turkey
United Kingdom
Other
Latin America and Other Western Hemisphere
South America
Argentina
Brazil
Chile
Colombia
Ecuador
Peru
Venezuela
Other .
Central America
Costa Rica . . .
. . . .
Guatemala
Honduras . .
.
Mexico
Panama
Other
.
Other Western Hemisphere
Bahamas
Barbados
Bermuda
Dominican Republic
Jamaica
Netherlands Antilles
Trinidad and Tobago
United Kingdom Islands, Caribbean
Other
Africa .
Egypt
Nigeria
South Africa
Other
Middle East
Israel
Saudi Arabia
United Arab Emirates
Other
Asia and Pacific
Australia
China
Hona Kona
India
Indonesia
japan
Korea Republic of
Malaysia
New Zealand
Philippines
Singapore
Taiwan
Thailand
Other
international2
Goods
1,263,457 1,191,832 1,035,805
182,063
177,200
155,518
699,204
731,810
613,722
4,484
7,070
6,264
35,714
36,322
32,721
5,127
4,905
4,089
1,880
3,290
2,827
89,297
63,599
79,660
103,673
132,022
121,446
1,060
2,526
2,405
14,395
13,325
12,646
53,484
41,618
48,216
1,637
2,610
1,716
75,939
57,449
47,870
9,441
10,579
8,789
2,412
4,127
3,759
28,097
23,036
25,721
5,915
9,208
7,841
51,424
46,958
47,876
983
2,576
2,299
290,959
191,700
156,743
1,004
1,093
915
150,943
101,601
85,824
53,734
42,372
49,657
4,480
4,595
4,006
25,993
36,631
34,092
3,055
2,209
1,961
4,194
3,989
3,921
752
519
688
1,329
1,151
1,108
2,360
2,660
2,362
1,541
646
1,519
26,554
23,740
22,708
557
500
572
359
616
603
553
904
891
13,993
19,330
18,543
1,507
10,753
1,698
395
619
606
24,127
82,017
13,458
4,498
1,353
928
852
896
503
41,225
15,520
8,908
715
742
1,695
1,089
1,055
25,899
2,279
36
865
751
692
5,627
377
943
642
556
(D)
14,404
12,932
13,605
2,847
2,161
1,937
3,138
3,078
2,993
1,812
3,051
3,012
6,606
5,316
4,990
9,410
6,700
5,445
2,186
1,377
965
1,996
723
296
2,484
2,120
2,299
2,744
2,064
2,301
163,411
187,661
162,364
35,694
39,723
40,761
873
696
560
15,792
18,174
14,715
339
330
303
7,404
6,647
6,905
61,696
62,117
50,192
2,624
2,800
3,030
6,571
6,234
5,621
2,858
3,165
2,689
2,535
3,320
3,036
12,619
25,791
27,105
6,014
7,648
6,681
4,182
6,122
6,673
954
1,077
1,166
11,416
5,859
0
n
.
Services
Investment income
Net income
130,898
16,588
73,062
757
3,192
968
427
9,405
9,136
121
492
4,895
45
8,045
641
358
2,004
1,287
3,242
277
27,684
88
10,508
3,187
447
1,926
185
205
62
43
298
21
919
14
13
11
680
189
12
6,402
374
371
4,756
(D)
33
125
50
353
(D)
646
223
85
39
300
1,197
386
428
148
237
23,037
4,199
135
3,231
27
258
11,180
382
299
433
240
1,272
796
497
87
5,859
25,129
5,095
12,420
49
410
70
36
232
1,440
0
187
374
34
1,534
11
11
371
80
305
0
7,273
1
0
54
99
2,589
29
32
3
1,425
1,054
46
5,528
350
174
2,460
145
173
1,434
118
656
18
968
431
248
141
149
902
127
217
151
406
11,390
2,230
-4
1,545
4
1,527
2,131
134
509
32
221
1,948
621
466
27
1,007
9,741
18,089
70
312
63
(D)
H
841
1,422
15,773
36,768
40,391
10,137
161
1,293
399
0
4
887
2
0
0
461
23,170
43
0
11,081
31,139
3,711
7,400
1,097
7,523
1,721
3,887
5,800
7,945
18,100
2,848
1,792
5,269
890
142
613
64
68
1
0
1
112
1
0
2
106
2
1
4,266
51
22
1,856
0
0
2,118
8
212
0
27
0
0
0
27
58
27
0
31
0
2,260
868
1
228
0
n
744
24
38
43
43
42
170
54
3
72,906
5,285
43,737
391
2,382
217
118
2,932
5,636
15
4,056
2,494
211
6,810
984
239
1,956
306
5,131
73
9,731
54
9,616
1,499
174
1,037
148
308
11
-333
Research
and development expenditures
10,417
1,168
7,897
U.S. ex-
U.S. im-
ports
shipped
to
MOFA's
ports
shipped
n
n
101,661
36,857
32,122
237
2,386
152
146
3,962
5,907
51
1,205
1,901
188
4,226
120
141
930
573
1,520
(D)
8,096
(D)
11,624
2,571
282
1,076
143
232
102
52
507
177
8,096
85
138
121
7,428
283
42
957
453
(D)
187
85
84
13
30
T7
(D)
542
123
65
153
201
213
95
19
70
29
20,270
2,840
102
1,949
17
138
7,361
528
946
198
296
4,199
880
700
117
33
147
8,704
225
2,032
75
2,596
734
2,163
879
734
12
789
31
4,855
66,236
1,471
7,908
1,487
11,463
8,814
26,797
8,296
28,873
8
476
1,212
46
394
<1
843
2,574
3
539
466
(D)
461
21
5
102
130
80
3
2,190
9
202
145
14
113
3
4
n
11n
n
56
8n
n
1
n0
n0
n
(
1
i
0
12
n
10
1
16
14
:
i2!
1,123
197
0
47
3
3
507
9
6
5
6
299
37
4
MOFA's
88,607
40,017
14,198
55
820
174
Employee
compensation
n
n
148,353
26,962
90,639
899
4,774
758
365
14,360
22,929
216
1,106
7,284
327
4,861
844
403
4,319
1,302
2,489
177
23,100
126
11,088
7,656
779
5,283
283
426
46
378
350
110
2,929
102
50
101
2,489
164
23
504
160
16
94
62
68
10
44
22
28
750
85
54
305
307
674
334
159
78
102
17,690
5,494
82
948
42
367
7,165
462
383
364
261
1,011
795
241
76
551
11,965
67,744
1,233
3,862
1,913
12,327
10,161
29,840
8,408
7,422
9
110
1,356
7,935
93,260
7,186
15,348
4,543
18,476
8,710
19,156
19,842
20,505
5.774
11,618
9,261
1,781
2,416
n
708
578
(°)
872
64
16
406
141
409
71
5,517
16
11,367
2,772
116
1,827
114
429
121
60
8
7,433
65
18
73
7,239
39
n
1,162
n3
n
52
366
3
n
8
3,419
5
n
59
n
710
265
1
n
(D)
18,896
1,504
1
3,600
(D)
702
1,859
502
1,482
33
395
6,313
1,606
875
Number
of employees
(thousands)
5,203.8
863.6
2,420.1
19.4
113.2
17.0
7.4
350.3
526.0
10.0
43.1
169.5
7.0
124.7
19.2
23.3
124.4
29.1
48.2
11.6
760.2
16.6
988.6
503.5
47.5
333.0
19.5
35.9
6.9
13.3
40.7
6.7
445.8
18.2
10.2
23.5
371.0
19.6
3.4
39.2
7.9
1.3
2.6
14.6
7.1
.4
2.1
1.5
1.9
77.5
9.3
6.2
22.3
39.7
27.5
14.5
7.9
19
3,3
803.4
193.6
6.6
60.5
10.4
36.4
142.4
26.4
62.4
16,9
65.8
79.7
50.9
41.2
10.2
23.0
By major industry
Petroleum
Manufacturing
Food and kindred products
Chemicals and allied products
Primary and fabricated metals
Machinery except electrical
Electric and electronic equipment
Transportation equipment
Other
Wholesale trade
Finance (except banking), insurance, and real estate
Services
Other industries
D
.
Suppressed to avoid disclosure of data of individual companies.
* Less than $500,000.
1. See footnote 1 to table 4.
167,327
440,222
44,663
93,500
21,596
81,153
37,074
71,800
90,436
120,393
446,803
44,594
44,118
237,227
580,311
60,361
107,227
23,306
113,761
45,979
124,759
104,917
223,536
60,035
42,358
48,366
227,325
560,930
59,892
106,914
23,239
n
(°)
123,918
103,495
207,302
97
1,923
38,229
2. See footnote 1 to table 3.
188.4
3,357.9
329.2
488.4
182.2
500.0
485.2
606.4
766.5
506.9
128.6
408.8
613.3
SURVEY OF CURRENT BUSINESS
August 1992 • 75
Table 12.1—Total Assets of Nonbank Foreign Affiliates, Country by Industry of Affiliate, 1989
[Millions of dollars]
Manufacturing
All industries
Petroleum
Total
Food
and kindred
products
Chemicals and
allied
products
Primary
and fabricated
metals
Machinery, except
electrical
Electric
and
electronic
equipment
Transportation
equipment
Other
manufacturing
Wholesale
trade
Finance
(except
banking), insurance,
and real
estate
Services
Other
dustr
1,330,028
196,721
492,506
47,220
101,786
23,620
78,702
52,125
98,e07
90,446
111,692
419,730
45,490
63,8
Canada
194,774
37,501
67,689
5,833
10,900
5,702
5,454
4,249
(D)
10,606
56,831
6,747
15,3
Europe
663,761
76,645
257,182
28,782
52,219
10,372
51,124
29,665
(D)
40,C 19
45,001
69,707
217,813
29,384
13,0
n
321
119
1,295
3
(D)
)
°)
D
)
D
)
D
)
D
)
D
)
D
(D)
(D)
124
77
7,626
1,433
4,379
1,329
1,011
11,506
(DD)
( )
890
(°)
4,857
(D)
3,284
(D)
30
2,873
1 1 ,000
0
3,161
6,243
(DD)
( )
51
(D)
1,518
1,272
D
)
D
D
7,764
(D)
1,922
3,319
1,256
(D)
6,726
309
498
6,298
16,983
31
2,566
R
863
26,361
3,034
75
234
1,109
(D)
3,426
(D)
1,016
647
2,730
All countries
7,358
30,842
4,271
1,608
57,982
( D ),
1,630
(D)
204
(D)
1,533
14,878
1,057
232
34,571
104
(°)
449
7
(D)
121
5,818
(D)
89
6,968
Germany, Federal Republic of
Greece
Ireland
Italy
Luxembourg
Netherlands
102,112
929
13,136
40,317
2,650
68,011
(D)
111
363
2,417
45
(D)
56,254
(D)
9,444
24,677
1,660
21,311
2,830
(D)
1,188
1,955
0
(D)
8,751
160
2,006
6,209
Norway
Portugal
Spain
Sweden
Switzerland
Turkey
United Kingdom
Other
11,092
2,308
22,558
5,274
40,144
1,428
250,975
766
(D)
164
(D)
293
2,734
(D)
30,686
(D)
10,060
1,275
(D)
14,873
2,639
2,657
760
67,963
46
n
(D)
2,001
(°)
(D)
(D)
11,582
0
9,660
5
(D)
(°)
(DD)
( )
93
(D)
2,584
0
53,752
5,652
11,367
4,815
5,784
4,556
901
1,195
(D)
1,012
200
(D)
210
(D)
1,995
(D)
96
(D)
616
1,029
(D)
3,509
747
(D)
35,486
3,074
26,129
(D)
1,294
270
148
2,911
(D)
16,822
302
170
262
15,736
274
78
3,395
689
1,878
25
203
(D)
19
6,167
(D)
4,226
131
459
61
60
536
(D)
4,444
117
30
(D)
4,118
150
(D)
757
3,729
45
2,107
(D)
70
28
(D)
4,837
(D)
(D)
8
0
0
0
38
0
2,243
61
D
)
110
0
2 33
0
947
0
0
0
947
0
0
1,428
17
0
0
1,409
0
3
3,5 35
0
0
0
0
0
0
0
0
0
0
42
0
Austria
Belgium
Denmark
Finland
France
:
Latin America and Other Western Hemisphere
South America
Argentina
Brazil
Chile
Colombia
Ecuador
Peru
Venezuela
Other
165,697
50,787
4,742
32,159
2,956
4,050
616
1,696
3,908
660
'.
Central America
Costa Rica
Guatemala
Honduras
Mexico
Panama
Other
33,909
581
405
622
20,957
11,035
309
Other Western Hemisphere
Bahamas
Barbados
Bermuda
Dominican Republic
Jamaica
Netherlands Antilles
Trinidad and Tobago
United Kingdom Islands Caribbean
Other
81,002
3,834
857
37,979
Africa
Eavot
NkjL'
:::::::::.
South Africa
...
Other
Middle East
Israel
Saudi Arabia
United Arab Emirates
Other
.
Asia and Pacific
Australia
China
Hong Kong
India
Indonesia
Japan
Korea Republic of
Malaysia
New Zealand
Philiooines
Singapore
Taiwan
Thailand
Other
..
.
•" .
International '
Addenda:
Eastern Europe^
European Communities (12) 3
OPEC4
D
•
R59
n
2,062
46
n
174
1,712
n
18
194
0
4
4
8
13
n
(D)
2,248
2,102
(D)
4,559
2,572
262
83
1,317
910
21,745
3,551
13,630
2,504
2,060
(D)
(D)
5,613
2,261
1,733
7,065
1,057
5,962
3
43
256,439
49,012
1,741
15,432
1,245
7,711
133,635
9,941
5,245
(D)
3,150
11,452
6,761
3,931
(D)
45,430
(DD)
()
454
(DD)
()
18,857
(D)
(DD)
()
(Di
2,458
(D)
1,171
439
104,244
16,485
700
3,177
1,075
475
59,010
6,804
1,766
935
1,693
6,025
4,514
1,396
189
6,578
(D)
(D)
147
(°)
(°)
1,517
563
(D)
R( )
5$
3
(D)
20,885
(D)
106
(D)
581
337
10,082
842
163
141
380
398
1,330
298
138
12,962
7,800
65
596,091
33,239
0
63,957
(D)
(D)
248,039
9,723
0
27,830
542
0
51,115
6,758
(
0
548
89
R( )
52
5,867
0
3
#
PI
D
D
n
R
12,994
0
0
0
0
(DD)
( 3)
(D)
241
(D)
(D)
49
0
0
2,158
644
(D)
101
77
(D)
918
86
n
88
58
(DD)
(D)
()
(D)
(D)
D0
(51)
1
0
0
825
4,343
(DD)
)
D
)
1
1
°)
5,011
D
)
3,714
1
1
11,0 05
7,4 70
D
)
3
30
0
0
0
3,5 35
0
0
0
0
0
D
( )
0
R
R( )
)
)
0
29
D
)
1
3
D
(DD)
D)
)
o
(D)
(
398
7
l!349
264
(D)
0
49,231
76
0
°)
D
)
1
&
772
)
0
114
2,C 44
D
)
D
)
0
50
3,7 72
D
)
9
D
)
13,5 80
0
0
0
0
0
0
0
0
0
0
0
13,754
(D)
21
(D)
29
(D)
4,534
994
1,250
15,895
1,110
91
484
220
(D)
9,627
(D)
()
0
1,3 56
D
D
D
R
8
12$
(D)
11,416
7,645
n
5,368
(DD)
()
80
£«
R72
(D)
3,199
P
P(
D
(DD
(
23
0
(D)
R
°l0
{
(DD)
()
R
123
12,552
n
8,3
619
(D)
384
(D)
30
0
(?)
2
1,680
52
36
21
916
643
12
9,867
0
24
n
47
1,840
338
178
(°)
. 42
D
°!0^
0
T(°)
0
n
n
n
(°)
1,885
1,140
563
35,397
(D)
8
h19
388
3
4
D
( )
260
95
(D)
n
85
{DR
(°)
13
152
479
95
(D)
174
(D)
471
(°)
D
344
43
(D)
41
(D)
2,525
1,317
D
651
(°)
338
(D)
74
56,585
(D)
5,776
1,990
7
558
(D)
(D)
2,397
131
11
65
73
240
109
(11)
h
125
41
l
((°))
(°)
((D))
56
n
4,668
4
38
39,294
(D)
1,065
415
(D)
1,177
1,278
(D)
(D)
3,1
(
2
2,2
i
1,580
785
(D)
220
S
D0
25,003
5,465
(D)
(D)
62
68
11,663
615
186
509
149
1,370
517
322
84
8,136
(D)
248
136
(D
183
(D)
114
7
3,2
2,587
13,948
ID\
n
(D)
232
(D)
708
(°)
31.C 27
2,3 41
n
88
159
926
116
1,658
66
11,752
85,505
461
(D)
189
n
1,916
384
348
253
232
(D)
102
293
163
128
0
2
)
4
33
0
24,196
D
)
0
340
3,345
430
(D)
3
124,771
D
( )
5,436
)
D
)
0
0
0
D
n
i
4
n
!
5
1
19,4
10,3
2,2
(
1
(
1
I
R
5,1
Suppressed to avoid disclosure of data of individual companies.
1. See footnote 1 to table 3.
2. "Eastern Europe" comprises Albania, Bulgaria, Czechoslovakia, the German Democratic Republic (1989 only),
Hungary, Poland, Romania, and the Union of Soviet Socialist Republics.
3. See footnote 2 to table 3.
n
22
S
(°)
R
4
817
4
(D)
T
R
14,651
2,754
2,497
2,266
7,134
40
D
121
(D)
5
(D)
218
(D)
7
0
(°)
323
(D)
R
R( )
l
1,606
28,761
1,332
5,217
(D)
R
3,397
0
227
563
(D)
(°)
(D)
0
0
0
0
{D
n
(D4)
R
(D)
R
110
1,445
R
246
3,462
247
T
960
D
0
9,679
(°)
0
39,103
348
D
P
784
( )
52,034
904
0
192,363
(")
1
27,271
580
12,4
(
4. OPEC (Organization of Petroleum Exporting Countries) comprises Algeria, Ecuador, Gabon, Indonesia, Iran,
Iraq, Kuwait, Libya, Nigeria, Qatar, Saudi Arabia, United Arab Emirates, and Venezuela.
SURVEY OF CURRENT BUSINESS
August 1992
Table 12.2.—Total Assets of Nonbank Foreign Affiliates, Country by Industry of Affiliate, 1990
[Millions of dollars]
Manufacturing
All industries
Petroleum
Total
Food
and kindred
products
Chemicals and
allied
products
Primary
and fabricated
metals
Machinery, except
electrical
Electric
and
electronic
equipment
Transportation
equipment
Other
manufacturing
Wholesale
trade
Finance
(except
banking), insurance,
and real
estate
Services
Other industries
1,552,717
215,854
578,076
57,177
119,871
27,422
88,034
62,224
114,410
108,938
128,490
502,009
53,782
74,507
Canada
197,343
34,431
70,504
6,532
11,140
6,839
5,807
3,851
58,618
6,490
16,243
832,183
93,135
320,612
35,295
67,096
12,945
57,820
38,497
(D)
59,160
11,058
Europe
(D)
49,799
81,177
282,015
36,307
18,935
7,021
41,403
5,418
2,082
78,413
984
2,261
2,046
19,688
1,323
504
47,489
107
(D)
608
9
4,300
144
7,877
(D)
472
90
1,386
4
45
D
( )
12,315
0
2,496
8,611
52
(D)
37
(D)
1,871
1,587
546
(D)
14,766
)
)
138
D
( )
9,915
1,504
6,252
1,671
1,153
12,639
2,268
( )
0
116
2,336
(D)
156
10,040
(D)
2,395
4,088
1,358
(D)
22,536
35
3,891
5,927
1,036
44,973
0
75
Q
5,572
D
)
4,077
(D)
71
2,774
846
1,690
125
16,636
(D)
12,302
8,056
395
357
7,871
(D)
(D)
1,163
807
3,556
1,995
13,538
150
13,222
233
All countries
Austria
Belgium
Denmark
Finland
France
Germany '
Greece
Ireland
Italy
Luxembourg
Netherlands
...
Norway
Portugal
Spain
Sweden
Switzerland
Turkey
United Kingdom
Other
Latin America and Other Western Hemisphere ..
South America
Argentina
Brazil
Chile
Colombia
Ecuador
Peru
Venezuela
Other
.....
()
152
422
2,110
71
9,669
68,401
(D)
9,535
30,609
1,802
24,396
11,933
2,915
29,187
7,201
48,116
1,692
307,129
1,351
(D)
218
4,771
391
39,608
152
1,320
(D)
19,352
4,005
6,972
856
80,071
532
178,611
10,859
58,466
54,037
5,568
32,997
4,166
4,357
632
1,366
4,204
747
5,026
1,085
1,794
(D)
1,076
204
(D)
225
(D)
37,969
3,067
27,462
(D)
1,397
293
151
3,105
(D)
18,862
332
150
217
17,801
275
87
1,635
38,135
560
388
564
25,314
10,914
395
Other Western Hemisphere
Bahamas
Barbados
Bermuda
Dominican Republic
Jamaica
. . . .
Netherlands Antilles
Trinidad and Tobago
United Kingdom Islands Caribbean
Other
86,439
4,540
865
43,529
.
.
.
Africa
Eavot
Nigeria"""::: :: :::""::::::::::::::::::::::::::::::::::::::::"::::::::::':::::::"":::":::::
South Africa
Other
Middle East
Israel
Saudi Arabia
United Arab Emirates
Other
Asia and Pacific
Australia
China
Hona
. j.a Kona*
India
Indonesia
japan
Korea Republic of
Malaysia
New Zealand
Philiooines
Sinoaoore
:i .y "v
Taiwan
Thailand
Other
.
.
International2
Addenda:
Eastern Europe3
European Communities (12)4
OPEC5
D
Suppressed to avoid disclosure of data of individual companies.
1. See footnote 1 to table 4.
2. See footnote 1 to table 3.
1,875
26,603
1,380
5,809
(D)
17,313
3,016
3,487
2,673
8,138
20,121
3,959
10,796
2,563
2,804
. . . . .
D
125,720
1,119
14,469
49,611
3,007
94,393
Central America
Costa Rica
Guatemala .
Honduras
Mexico .
Panama
Other
.
B
3,502
293,880
53,157
2,050
16,654
1,376
7,761
156,192
12,466
6,600
(D)
3,339
13,523
8,091
5,208
(D)
13,266
612
752,786
32,724
a
D
( )
a
116
(D)
(D)
106
(D)
1,522
<313
%
$
D
()
54
,£]
2,961
2,780
254
112
1,522
893
5,3<2
2,549
50,536
8,070
446
8
20,®
P)
2,586
8
3,618
(D)
1,460
511
7,365
1,260
6,059
3
43
118,348
17,580
753
3,803
1,151
585
68,028
8,208
2,055
873
1,852
6,145
5,191
1,825
301
n
90
11,702
3
1,231
10,546
205
2,052
(D)
(D)
8,564
4,042
0
244
668
(D)
(D)
347
4,296
266
371
(D)
12,823
39
(D)
18
495
(D)
168
(D)
3,540
0
12,317
5,115
5,519
4,965
857
(°)
31
230
67
20
411
(n)
2,556
50
52
138
2,240
7,023
(D)
4,458
505
497
67
63
580
(D)
4,563
126
30
16
4,230
148
14
3,776
58
1,956
625
70
30
(D)
983
(°)
4,492
150
4,298
4
0
0
0
40
0
217
(D)
731
(D)
0
1
21
126
(D)
0
0
0
0
(D)
0
0
0
8
1,302
2,354
0
(D)
(D)
328
2,606
8
9,744
(°)
7,738
a
4
p
i
0
( )
344
45
34
62
202
D
54
1
'1
164
16
(D)
1,637
671
(D)
244
813
58
a( )
D
0
621
109
52
332
128
5,872
(D)
5,741
3
(D)
22,824
(D)
123
(D)
546
436
10,237
1,517
228
157
422
492
1,580
442
(D)
n
D
( )
39
9
4
892
4
(D)
n0
364
(D)
n
(°)
0
0
0
T0
1
0
0
0
0
0
0
D0
()
a3 aT
)
a
a)
()
a a
D
D
930
D
D
150
2,258
n
n
16
11,398
7,306
(D)
a
a
4,092
0
0
0
4,092
0
0
45
0
4
0
3
0
0
0
37
0
0
0
0
0
0
0
0
0
0
0
0
440
0
D
8,149
(D)
5,495
n
(°)D
()
n
(DD)
(D)
)
94
59
60
§
(D)
(°)
8
30
3
«
a a Ta
()
°!
120
159
112
47
0
0
2,000
634
14
(D)
89
15
723
100
27
8
92
68
47
(D)
(D)
18,447
1,342
124
586
270
39
11,132
437
96
(D)
(D)
3,080
814
491
10
14,864
1,706
17
(D)
43
(D)
4,438
990
1,388
65
a
19
271
16,990
0
30
13
2
(D)
D
( )
1,774
22
0
0
1,749
0
3
403
30
0
(D)
(D)
37
32
5
0
0
3
1,505
D
0
31
(D)
816
802
7
0
6
n
2,102
1,700
311
(D)
(DD)
( )
0
0
0
37,489
2,183
(D)
(D)
36
0
31,310
T
(D)
0
(D)
(D)
0
0
D
D
()
!
173
{
(D)
15,510
D
)
D)
937
150
48
8,552
(D)
n
134
191
(D)
£2(°)
6,252
2,652
917
388
277
263
(D)
107
557
(D)
1,773
65
37
16
1,075
566
12
1,828
291
105
1,088
39
(D)
21
0
(
1
496
84
(D)
221
(D)
253
30
83
113
27
29,254
6,106
216
3,973
106
74
14,170
729
n
665
148
1,629
679
420
(D)
n
a
7,768
n
4,472
$
434
37
.5,201
1,815
4,041
53
n
1,480
n
4,388
400
411
3,904
459
21,013
4
157,222
n
11,981
90,462
2,824
n
a
1.3
n
25
0
92
2
11,037
0
25
37
2,199
8,756
19
(D)
3,242
606
40,160
(D)
8
26,175
(D)
5,238
6
182
207
1,205
140
1,682
n
690
51
419
31
45
0
18
n
n
565
3
4
n
333
199
(D)
1,569
796
(°)
283
(D)
83
(D)
13
50
n
D
218
140
(D)
5,024
(D)
9,74&
(D)
H
(D)
(DD)
(D)
()
(°)
(DD)
()
5(5
219
(D)
a
2,242
(D)
0
463
514
4
(D)
(D)
a
a a( )
an
612
(D)
(D)
(D)
417
412
45
2,579
1,322
1,181
(D)
(D)
67,722
7,873
(D)
4,880
(D)
44
47,998
(D)
1,403
319
439
1,493
1,748
1,082
70
1,003
450
455
25
74
D
6,745
2,113
10
589
(D)
14
2,593
233
(D)
94
187
430
168
196
26
24
n
21,276
11,415
n
n
31
n
2,626
31
n
n
207
2(58
(D)
226
(D)
5,779
7,487
0
77,437
(D)
n
n
(D)
1,615
( )
n
((DD))
(D)
517
304,376
10,175
(°)
31,230
567
D
( )
65,862
6,891
0
12,131
1,077
D
( )
55,448
84
3. See footnote 2 to table 12.1 .
4. See footnote 2 to table 3.
5. See footnote 4 to table 12.1.
(DDl
( )
153
0
47,678
475
((D)
92
n
61,440
958
n
257,443
1,450
1
33.757
755
7
18,332
(0)
SURVEY OF CURRENT BUSINESS
August 1992 •
77
Table 13.1.—Employment of Nonbank Foreign Affiliates, Country by Industry of Affiliate, 1989
[Thousands]
Manufacturing
All countries
All industries
Petroleum
Total
Food
and kindred
products
Chemicals and
allied
products
Primary
and fabricated
metals
Machinery, except
electrical
Electric
and
electronic
equipment
Transportation
equipment
Other
manufacturing
823.2
863.9
6,622.1
285.2
4,191.1
483.5
580.4
222.9
557.4
659.7
Canada
955.2
46.4
475.6
43.6
52.5
34.6
42.2
39.6
Europe
2,699.1
72.7
1,783.4
190.0
249.9
90.1
300.6
266.8
328.7
.7
21.7
1.0
.3
33.4
.3
3.2
.7
(*)
( )
.7
14.4
0
.4
(D)
P)
P)
(D)
(D)
Austria
Belgium
Denmark
Finland
France
29.2
131.7
19.8
7.4
400.9
(D)
2.1
.4
.5
D
( )
Germany, Federal Republic of
Greece
Ireland
Italy
Luxembourg
Netherlands
556.6
13.4
42.9
185.5
8.0
131.0
( )
Norway
Portugal
Spain
Sweden
Switzerland
Turkey
United Kingdom
Other
27.4
23.8
150.7
36.8
49.7
16.8
865.1
2.2
(D)
Latin America and Other Western Hemisphere
1,307.9
12.2
97.1
P)
1.5
246.5
430.0
6.1
39.5
139.3
7.1
77.5
16.2
2.8
3.0
11.2
0
(D)
46.2
1.8
4.5
29.3
.5
17.9
27.6
0
1.6
3.3
.6
(D)
72.5
0
7.1
30.4
.2
(D)
(D)
35
187
D
( )
1.5
.8
87.0
0
.7
3.0
20.4
1.4
1.6
2.5
63.1
(D)
26.1
(D)
8.4
P)
119.7
20.6
14.2
11.5
528.9
.1
n
.2
3.0
D
( )
.5
.1
28.2
0
27.5
1,028.7
158.8
D
.5
.6
5.2
.1
(D)
.4
.6
.6
1.0
South America
Argentina
Brazil
Chile
Colombia
Ecuador
Peru
Venezuela
Other
648.3
60.3
440.1
18.6
39.4
9.3
13.8
60.1
6.7
21.2
4.0
5.8
.9
4.0
.6
(D)
3.3
(D)
542.1
46.4
407.6
8.3
22.9
6.4
3.4
43.6
3.6
Central America
Costa Rica
Guatemala
Honduras
Mexico
Panama
Other
613.5
23.6
17.7
21.5
527.2
20.3
3.1
3.7
0
.3
.2
1.7
1.0
.5
470.3
9.8
5.7
6.9
443.5
2.3
2.0
46.1
8.7
1.5
2.6
18.1
8.7
.5
2.6
1.5
1.8
2.6
.2
.2
.7
.1
.2
n.6
n.5
16.3
.3
.4
.1
7.7
4.9
.2
1.3
.6
.8
116.8
12.6
7.0
36.0
61.2
16.8
2.6
4.2
P)
(D)
60.1
4.7
1.9
27.8
25.7
Other Western Hemisphere
Bahamas
Barbados
Bermuda
Dominican Republic
Jamaica
Netherlands Antilles
Trinidad and Tobago
United Kingdom Islands, Caribbean
Other
Africa
Egypt
Nigeria
South Africa
Other
Middle East
Israel
Saudi Arabia
United Arab Emirates
Other
Asia and Pacific
Australia
China
Hong Kong .
India
Indonesia
Japan
Korea, Republic of
Malaysia
New Zealand
Philippines
Singapore
Taiwan
Thailand
Other
92.0
24.0
61.3
2.5
4.2
.
International '
Addenda:
Eastern Europe2
European Communities (12) 3
OPEC4
D
Suppressed to avoid disclosure of data of individual companies.
* Less than 50 employees.
1. See footnote 1 to table 3.
1,422.0
396.8
10.6
78.9
37.9
38.8
392.2
70.9
55.2
21.7
100.0
78.4
65.8
60.8
13.8
1.0
9.7
2.0
.1
(D)
130.8
62.9
11.6
(D)
.7
3.9
1.7
.8
P)
2.0
P)2.2
o2'5
53.8
.8
.6
P)
0
0
fl
.2
.1
.2
0
.1
10.8
.5
.5
2.0
7.9
1.2
(D)
n.4
.2
.1
.1
0
0
57.2
10.2
.3
.6
.4
16.8
13.2
825.6
120.8
9.5
50.0
35.3
8.9
240.3
59.6
46.2
10.5
81.9
59.9
52.1
42.9
7.6
108.1
(D)
.8
2.8
.2
P)
4.5
4.5
.2
2.8
(D)
.6
(D)
(D)
.9
50.9
.5
2.8
(D)
(D)
3.6
.1
2.2
1.6
29.1
13.8
.6
2,529.5
184.9
0
60.3
17.8
12.2
5.2
91.5
11.6
58.4
2.7
6.3
1.8
1.3
9.1
.2
64.6
1.4
.9
.2
61.0
.7
.3
2.8
.2
0
0
D
( )
.1
1.0
0
0
9.9
1.2
1.0
5.8
1.9
5.2
1.2
3.8
n.2
104.1
19.9
1.5
.9
15.6
3.5
32.1
4.6
1.7
1.3
7.5
1.2
5.5
3.6
5.1
ID\
.3
.2
357.2
0
15.9
D
p)
H
683
Wholesale
trade
Finance
(except
banking), insurance,
and real
estate
Services
Other industries
533.2
165.7
481.5
965.3
63.1
32.8
75.0
262.3
315.2
81.6
269.6
176.6
(D)
1.6
1.8
11.9
2.9
.5
65.8
6.9
14.2
7.5
4.4
61.6
.3
7.2
23.1
.1
(D)
( )
0
3.2
18.3
.1
2.0
64.2
1.2
13.0
23.7
5.5
(D)
.3
P)
8.2
7.3
2.9
.4
93.1
0
(DD)
()
P)
P)
0
.7
30.5
.2
1.2
(D)
P)
3.2
fl92.6
111.9
n
5.3
5.3
14.8
D
( )
18.7
1.2
71.9
D
( )
68.6
77.0
163.7
216.7
213.1
34.1
42.2
1.1
27.9
2.6
2.3
.7
.5
54.8
(D)
P)
P)
0
0
0
.5
0
51.8
1.7
P)
.4
1.3
.3
.1
P)
0
124.3
P)
(D)
.3
(D)
.2
0
5.2
0
114.8
18.8
3.4
3.8
3.1
2.4
.7
.8
4.4
.3
22.2
0
0
0
22.2
0
0
111.6
1.0
0
0
110.6
0
92.5
0
0
0
92.5
0
0
P)
P)
p)
( /
.3
n
n
p)D
( 0)
22.2
0
0
0
(D)
0
0
0
0
6.6
.4
.2
3.2
2.9
1.8
P)
(D)
o
0
21.2
5.1
.3
.9
2.6
.6
4.4
.5
(D)
.1
2.4
.9
.7
1.4
(D)
0
0
0
0
0
0
0
0
0
0
(D)
P)
0
p)
.2
D
P)
P!
53.0
.1
n
.3
0
0
0
.1
0
0
0
.2
0
py
(°)
.2
p)1.3
0
( )
P)
0
0
0
( )
(D)
130.1
12.1
1.2
5.6
9.8
.3
48.1
2.3
1.0
.3
.3
28.5
6.8
179.9
11.4
.2
(D)
.7
(D)
26.1
17.9
30.0
.4
(D)
24.4
26.3
5.2
.8
.1
0
.1
(D)
1.7
.7
8.3
D
( )
n
(D)
D2'°
81.2
.8
/D1)
m\
0
0
0
0
0
0
0
0
0
0
fi
(D)
P)
0
1.3
.4
(D)
0
0
(D)
11.2
D
D
n
85.3
( )
P)
0
0
0
142.6
25.8
(D)
.1
.7
0
83.5
P)
0
(D)
0
.9
(D)
0
0
.1
.4
0
.2
.4
.7
2.8
(D)
n0
.1
139.5
"
R
(D)
5.7
1.4
41.5
P)
P)
(D)
(D)
3.5
(D)
3.5
.7
39.9
3.8
2.1
24.2
n
20.6
12.8
.6
.7
.3
9.6
1.4
.1
2.5
.1
.3
o' 3
( /
.4
n
4.8
D
()
.2
.3
2.1
.1
(D)
.1
n2.8
.4
2.9
0
P)
(D)
0
.1
.2
4.1
1.0
.3
1.5
1.3
2.6
1.2
.4
.9
.2
114.1
(D)
.6
12.0
.2
.8
42.9
3.8
2.4
3.6
3.2
5.2
3.6
P)
P)
5.5
2.4
6.9
1.3
ft
n' 5
P)
!i
6.7
.1
D
( )
n
n5.9
(D)
(D)
6
102.5
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P)'
n
12.1
63.1
142.4
P) .7
n
l°i
(D0)
25.8
1.8
14.3
.7
3.5
0
H
(»)
4.0
(D)
(D)
.2
26.6
.1
.1
.1
26.0
.3
.1 -
.1
0
n0
(
o}
i )
1.7
.1
n1.0
.2
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26.4
2.7
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8.0
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15.3
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o4'8
n.2
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n
D
( ).1
.4
(
?
D
( )
(D)
P) .1
n
10.6
6.9
.6
.5
n
(D)
n.5
.6
.4
8.4
n
(*) .8
(D)
9.9
.1
0
.2
37.3
(D)
0
4.5
.1
P)
11.1
.6
(D)
.7
P)
P)2.1
.7
(D)
P)
..31
55.5
21.4
.1
3.7
P)
.1
16.2
P)
.3
.7
.4
2.8
3.0
2.0
.1
P!
pi
P!
n
13.1
10.8
(D)
(D)
P) .3
12.4
1.0
0
9
P)
.2
0
.1
n
p)
P) .2
P)
P)
P)
P)
P)
.1
P)
332.4
208.4
.1
8.1
P)
P)
68.5
P)
P)
P)
4.4
P)
5.0
P)
P)
15.4
n
1,714.8
66.1
0
179.5
16.1
0
242.7
19.3
0
86.9
8.8
0
288.6
.8
2. See footnote 2 to table 12.1.
3. See footnote 2 to table 3.
4. See footnote 4 to table 12.1.
0
3.5
0
321.1
5.4
fl12.3
.2
265.8
7.4
0
71.4
.9
.1
245.8
8.7
.3
171.5
P)
August 1992
SURVEY OF CURRENT BUSINESS
Table 13.2.—Employment of Nonbank Foreign Affiliates, Country by Industry of Affiliate, 1990
[Thousands]
Manufacturing
All countries
Canada
.
Europe
Austria
Belgium
Denmark
Finland
France
Central America
Costa Rica
Guatemala
Honduras
Mexico
Panama
Other
27.3
25.4
169.0
477.5
968.9
65.3
(D)
71.3
162.1
256.2
97.9
301.1
295.6
313.3
81.7
267.3
(D)
195.9
3.7
(D)
.3
0
(D)
1.0
(D)
14.7
38.8
.3
4.0
.7
.1
(D)
449.2
4.8
19.6
44.7
29.1
19.2
44.1
25.0
14.0
1.3
(D)
(D)
42.3
139.7
6.2
84.5
7.6
29.7
656.8
23.3
544.0
551.6
19.9
3.4
46.5
8.1
1.5
2.7
18.7
8.7
.5
2.7
1.5
2.1
4.3
7.4
1.1
4.0
.9
(
0
'.2
2.1
1.0
.6
2.3
.1
.2
.3
.1
°e
n
1.0
4.5
(D)
(D)
7.4
2.6
3.9
1,451.3
385.0
14.4
83.6
38.3
40.6
(D)'5
1.3
(D)
58.0
10.9
.3
.6
.4
407.8
16.4
13.5
71.6
66.1
18.4
98.2
85.8
64.4
64.4
12.6
(D)
3.0
(D)
.9
3.4
.1
2.5
1.6
28.3
12.5
17.5
2,582.3
144.6
6.4
3.5
10.1
16.3
48.5
25.2
16.8
23.0
489.2
11.5
35.7
59.3
41.3
411.3
9.5
lo
(D)
4.1
114.1
7.6
,
15.8
(D)
0
62.5
31.2
.8
20.5
(D)
123.1
19.5
20.0
11.6
23.6
1.1
10.4
8.3
(D)
263.2
13.6
95.2
1,333.4
630.0
Suppressed to avoid disclosure of data of individual companies.
* Less than 50 employees.
1. See footnote 1 to table 4.
2. See footnote 1 to table 3.
3. See footnote 2 to table 12.1.
550.8
(D)
383.8
510.0
(D)
1,049.8
7.5
Addenda:
Eastern Europe3
European Communities (12)4
907.6
(D)
369.1
4
28.2
9.2
International2
883.2
36.5
.6
.6
1.0
1.5
846.7
13.7
61.7
Asia and Pacific
Australia
China
Hono Kono
India
Indonesia
Japan
Korea, Republic of
Malaysia
New Zealand
PhiliDDines
Singapore
Taiwan
Thailand
Other .. .
698.7
34.3
1.5
2.8
8.8
0
(D)
.1
3.9
<D)
22.0
40.1
Middle East
Israel
Saudi Arabia
United Arab Emirates
Other
.5
.6
4.0
.1
7.2
57.7
Africa
Egypt
Nigeria
South Africa
Other
D
11.7
445.0
Other Western Hemisphere
Bahamas
Barbados
Bermuda
Dominican Republic
Jamaica
Netherlands Antilles
Trinidad and Tobago
United Kingdom Islands, Caribbean
Other
556.8
34.0
1,865.8
60.2
54.8
19.5
.
227.7
46.1
75.1
157.1
South America
Argentina .
Brazil
Chile
Colombia
Ecuador
Peru
Venezuela
Other
581.1
45.7
2,799.0
191.3
7.3
141.2
Latin America and Other Western Hemisphere
452.7
452.0
10.4
45.5
.
4,307.6
33.7
590.5
Norway
Portugal
Spain
Sweden .. .
Switzerland
Turkey
United Kingdom
Other
Machinery, except
electrical
232.7
8.6
418.1
Germany J
Greece
Ireland
Italy . .
Luxembourg
Netherlands
Primary
and fabricated
metals
931.8
1.0
2.6
.4
.5
6.2
Other industries
Chemicals and
allied
products
6,706.3
19.9
Services
Food
and kindred
products
Petroleum
26.7
Finance
(except
banking), insurance,
and real
estate
Total
All industries
129.1
Wholesale
trade
Electric
and
electronic
equipment
45.0
4.1
5.7
6.4
462.5
2.4
2.1
16.6
.4
.4
.1
7.9
4.8
.2
1.4
.6
.9
57.3
5.1
1.9
27.9
22.4
19.5
13.9
5.1
n.4
863.1
116.3
10.8
55.5
34.4
11.4
252.8
58.9
55.6
8.3
84.6
66.9
51.4
49.0
7.3
50.5
(D)
126.2
64.4
11.2
D
( )
3.8
1.3
.8
10.8
(D)
D
( )
2.2
2.6
D
( )
48.1
1.9
4.2
27.2
0
18.5
.5
3.4
21.8
1.3
1.4
.1
0
'I
!i
.2
0
.1
6.8
.5
.6
1.9
3.8
.3
.2
.1
0
0
111.6
(D)
(D)
2.9
.2
(D)
5.6
3.7
.4
1.4
45.4
.4
D
( )
(
\
n
,
I
(D)
(D)
15.4
n0
n.3
n0
D
(18.0
)
7.4
34.8
7.0
24.4
.1
.4
n
D
.3
.5
7.3
6.5
2.7
.4
( )
(D)
3.4
(D)
7
.'1
(D)
31.7
(D)
D
2.1
158.2
67.1
69.9
(D)
169.9
89.6
11.1
55.5
40.8
44.4
52.1
3.0
6.8
1.8
1.4
9.8
.3
65.7
1.4
.9
.2
90.4
0
.2
1.1
3.0
2.4
.7
.5
6.8
.2
D
( )
(D)
1.0
42.9
0
0
0
0
.5
0
25.4
0
0
0
.3
n
22.1
25.4
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.3
H
0
0
2.9
.2
0
0
.6
.9
.1
1.1
n0
62.0
n0
10.5
1.6
1.0
5.7
2.2
4.8
n
n
(*)
.2
105.3
19.9
1.7
1.1
13.5
4.0
31.9
4.8
1.8
1.7
8.0
1.3
7.0
3.1
5.5
.4
0
0
D0
( 0)
0
0
0
(
'l0
0
0
0
0
0
0
n
6.2
.4
.2
2.7
2.9
6.6
(D)
D0
1.6
1.1
.5
0
0
.4
.4
20.9
4.9
<lr
.6
3.5
.5
1.4
.1
2.5
.9
.9
1.4
(D)
()
0
0
0
144.4
12.7
1.4
5.4
10.4
.4
54.1
3.0
2.5
.3
.3
31.2
5.9
(D)
(D)
.2
1.5
0
(D)
8
8( )
32.2
26.1
Other
manufacturing
.6
13.7
&.1
.8
.6
(D)
0
1.7
3.2
(D)
(D)
Transportation
equipment
54.6
°i.4
1.3
.3
.1
.1
D
( )
7.2
18.7
D
15.3
6.9
4.2
61.9
fl
63.4
ft
(D)
31.0
(D)
1.1
n
23.2
(D)
(D)
1.4
(D)
(D)
(D)
3.9
2.9
121.4
3.5
1.7
26.2
0
20.4
5.1
5.8
15.5
n
18.2
1.4
n
(D)
39.7
14.1
139.7
(°)
113.0
(D)
22.8
(D)
2.0
(D)
(D)
,
,5.8
117.5
1.0
0
0
116.5
0
0
.3
0
0
0
.1
0
0
0
.2
0
102.6
0
0
0
102.6
0
0
2.7
(D)
.2
(D)
1.3
(D)
(D)
0
0
0
0
0
0
0
0
0
0
0
0
84.0
n'
(DD)
(D)
( 1.9
)
(D)
85.7
.8
.8
P)
1
ft
{
"l
2
A
.7
(D)
0
1.1
.4
fl11.5
67.0
4.7
4.8
' 3.4
2.6
.7
.8
5.5
.3
14.4
1.5
.7
.3
10.2
1.5
.1
2.5
.1
.3
.3
.6
.9
.1
0
.1
.1
4.8
1.0
.6
1.9
1.3
8.9
8.7
.1
0
.1
.4
.4
0
0
0
3.0
(D)
n0
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2.0
.6
.4
.9
.2
185.1
147.2
148.7
125.7
22.9
22.2
D
)
1.1
(°)
24.4
16.6
35.0
.4
(D)
28.8
25.3
5.3
.5
!4
2.2
.1
(D)
.1
.1
(D)
.3
1.5
0
216.2
0
(D)
.1
.7
0
.5
2.3
.4
40.1
0
R
3.2
.6
70.2
242.3
,
1.4
12.0
( )
n
71.2
n.1
93.8
(D)
n.2
3.0
1.8
.6
.8
(D)
5.9
1.5
n1.5
n1.5
.8
92.0
41.2
51.7
(°)
0
(D)
0
.9
(D)
0
0
(D)
4.3
2.7
3.7
3.2
5.2
3.8
5.1
D
( )
14.4
(DD)
( )
3.5
(D)
3.7
.2
8.3
.8
n4.3
1.1
.4
8.9
.7
.1
0
n0
.2
.2
n
(D)
n
(D)
6.5
2.5
7.4
1.7
(°)
2.2
n.8
n
n
8
i"i4
61.0
139.1
21.6
36.8
96.9
1.9
10.9
.7
3.5
0
n
l
( ^)
.1
29.=!
.1
.1
0
28.5
.4
.1
(D)
10.2
8n
n
n
n
i
n'1.0
.2
.1
n
n.1
.4
0
n
(°)D
( ).1
0
.2
37.7
8
4.8
fl14.4
1.0
(D>
7
4.6
1.2
1.9
1.1
n
.1
18.7
.5
n0
2
10.3
6.5
.6
1.0
n
(D8.2
)
4.7
16.5
(°)
8
n.9
0
P
n
n.2
0
.3
.4
8.4
(D)
(*)
.8
n
12.7
8.1
4.2
.3
.1
56.8
19.1
.1
4.0
(D>
4.8
(°)
3.0
6.4
(DD)
( )
(D)
1
16*
(D)
.9
1.0
.5
3.8
2.6
2.1
.1
.4
n
D
((D
)
2l
n'
D
(D)
(D)
()
(D)
i
n1
310.0
203.2
(D)
n
(°)
n
58.6
.4
(D)
n4,4
5.4
4.6
4.5
(D)
15.7
n
1,742.3
69.9
.8
145.4 .
.1
249.0
16.8
20.0
0
94.4
8.8
.2
289.9
.9
4. See footnote 2 to table 3.
5. See footnote 4 to table 12.1 .
(D)
(D)
3.8
0
332.7
6.4
fl13.3
(D)
264.2
8.9
.1
76.7
1.0
.1
246.2
8.9
.3
190.3
24.7
SURVEY OF CURRENT BUSINESS
August 1992
79
Rates of Return on Direct Investment
By J. Steven Landefeld, Ann M. Lawson, and Douglas B. Weinberg
Paul W. Farello,
Ilona C.
Greenberg, and
Glenn Farello of
the Balance of
Payments Division
and Steve B.
Bezirganian and
Arnold Gilbert of
the International
Investment
Division assisted in
providing data and
performing
methodological
research for this
article.
HIS ARTICLE updates the alternative measures prepared by the Bureau of Economic
Analysis (BEA) of the rates of return on foreign
direct investment in the United States (FDIUS)
and on U.S. direct investment abroad (USDIA). It
compares these rates of return with those on allU.S.-business investment and discusses possible
explanations for the relatively low rates of return
on FDIUS.
Last year, BEA introduced two alternative measures of the rate of return on direct investment
that were based on BEA estimates of the direct
investment positions valued at current-period
prices: The return on direct investment positions
at market value, which is a measure of financial
returns to direct investment, and the return on
direct investment positions valued at current cost,
which is a measure of economic returns on direct investment from current operations.1 These
alternative measures overcome a major limitation
of estimates of rates of return based on historical
costs—the noncomparability of investments that
differ considerably in age and therefore in price—
by presenting estimates on a consistent valuation
basis.
Table i shows rates of return for USDIA and
FDIUS based on market value and on current cost
compared with a market rate of return for all
U.S. businesses; it also shows rates of return for
USDIA and FDIUS based on historical costs.2 For
both USDIA and FDIUS, the rates of return at
current-period prices are lower, on average, than
the rates of return at historical costs. However,
the differences are much larger for USDIA than
for FDIUS because the adjustment needed to restate direct investment positions from historical
costs to current-period prices is much larger for
USDIA. This price adjustment is larger for USDIA
T
1. For a discussion of the various measures, see "Alternative Measures of
the Rate of Return on Direct Investment," SURVEY OF CURRENT BUSINESS 71
(August 1991): 44-45. For a discussion of the estimates of direct investment
at market value and current cost, see "The International Investment Position
of the United States in 1991," SURVEY 72 (June 1992): 46-59- For a discussion
of the concepts and estimating procedures underlying the current-period
estimates of direct investment, see "Valuation of the U.S. Net International
Investment Position," SURVEY 71 (May 1991): 40-492. The data are limited to the period from 1982 or 1983 to 1991 because the
complete information on equity flows and equity positions that is required
for the market-value measure is unavailable for earlier years.
because most USDIA occurred in the 1960'$ and
19/o's and thus tends to be "older" than FDIUS,
most of which occurred in the 1980'$.
For USDIA, the rates of return at market value
and at current cost are similar, on average, to the
rates of return for all U.S. businesses. However,
for FDIUS, the rates of return at market value and
at current cost are considerably below the rates
of return for all U.S. businesses. (The historicalcost rates of return for FDIUS are also quite low.)
The remainder of this article examines the question of why the rates of return on FDIUS are so
low relative to the rates of return on domestic
investments.3
3. For other recent studies on FDIUS and the low rates of return on FDIUS,
see Harry Grubert, Timothy Goodspeed, and Debrah Swenson, "Explaining
the Low Taxable Income of Foreign-Controlled Companies in the United
States," unpublished, contact author, Harry Grubert, U.S. Treasury) November 1991; Edward M. Graham and Paul R. Krugman, Foreign Direct Investment
in the United States, 2d edition (Washington, DC: Institute for International
Economics, 1991); and "Review of Internal Revenue Service Statistics on
Foreign Controlled Domestic Corporations 1983 through 1988," prepared by
KPMG Peat Marwick for the Organization for International Investment, July
1992.
Table 1.—Alternative Measures of the Rate of Return
for U.S. Direct Investment Abroad, Foreign Direct
Investment in the United States, and All U.S. Businesses
[Percent]
Returns based
on historical
cost
1982
1983
1984
1985
1986
1987
1988
1989
1990
1991
.
Average, 1983-91
Returns based
on current cost
Returns based on
market value
USDIA
FDIUS
USDIA
FDIUS
All
U.S.
businesses 1
USDIA
FDIUS
11.4
12.9
14.4
12.6
12.2
13.4
15.5
15.2
13.8
11.2
2.7
3.9
6.3
4.3
3.7
3.6
4.4
2.2
.4
-.7
6.0
7.0
8.3
7.9
7.6
8.3
10.0
10.2
9.4
7.7
1.2
2.3
4.4
3.3
2.8
2.6
3.4
1.6
.2
-.8
n.a.
11.4
11.6
9.1
7.2
7.7
8.4
7.9
7.6
6.9
n.a.
4.0
5.7
3.2
2.2
2.5
3.9
2.2
-.3
-.2
11.0
9.9
.11.1
8.7
7.2
8.1
9.0
7.6
7.7
6.0
13.5
3.1
8.5
2.2
8.7
2.6
8.4
n.a. Not available.
1. This measure is a weighted average of the after-tax earnings per dollar of stock for
Standard and Poor's Composite 500 companies and the average, yield on corporate bond
holdings rated AAA by Moody's Investors Service. The returns on debt and equity are
weighted by the ratio of debt to equities at market value for nonfinancial corporate businesses
published" by, the Board'of/Governors of the Federal Reserve System. Balance Sheets for the
U.S. Economy, 1960-91, (Washington, DC: March 1992).
USDIA . U.S. .direct investment .abroad
FDIUS Foreign direct investment in the, United States
• August 1992
SURVEY OF CURRENT BUSINESS
Returns on FDIUS
In examining rates of return on FDIUS, it is important to note that a multinational company
tries to maximize its total profits around the
world in deciding where to invest, where to produce, and where to realize its income. As a result,
a multinational company structures its operations, costs, and product pricing across countries
to maximize its global profits rather than to maximize profits on an individual investment or even
on all of its investments in a single country. It
may accept a below-average profit to gain access to the large U.S. market or to scarce raw
materials. Alternatively, it may accept low returns on some parts of its operations to take
advantage of economies of scale and technological efficiencies in other parts of its operations.
In addition to these types of operational—or
industrial organization—factors, multinationals
also take into account a number of other factors,
such as differences across countries in the cost
and availability of capital, in expected returns on
investment, in the tax treatment of income, and
in tariffs and nontariff barriers.4
The low rates of return on FDIUS appear to reflect certain long-term factors associated with the
operations of multinational companies and the
effects of a number of transitional factors that
led to a surge in FDIUS in the 1980'$. In the
1980*8, current-account surpluses in Japan and
several other countries generated excess funds
available for investment. Funds were attracted
to the United States by average yields on U.S.
investments that were higher than those on
home-country investments; this spread allowed
foreign investors to accept yields that were below
the average yield on U.S. investments. Further,
depreciation of the dollar against most foreign
currencies in the latter half of the 1980'$ increased
potential long-term yields for those investors who
believed that the U.S. dollar was undervalued.
The combination of these factors meant that investments that had looked attractive from an
operations perspective now also looked attractive
from an investment perspective. The resulting
surge in FDIUS in the ipSo's meant that much
of the investment on which the rates of return
are calculated was relatively new, and new investments typically have lower rates of return than
more mature investments. Moreover, a consid4. There has been much discussion about the relative importance of costof-capital and macroeconomic explanations versus industrial-organization
explanations for direct investment. Most analysts concede that both have a
role in direct investment but that industrial-organization explanations tend
to have a larger role than the other explanations. See, for example, Graham
and Krugman in Foreign Direct Investment, 35-38.
erable portion of this new FDIUS consisted of
acquisitions of financially distressed U.S. companies that foreign companies presumably hoped to
restructure and restore to financial health.
Long-term factors associated with the goal of
maximizing profits on a global basis rather than
on an individual-country basis also may have
held down the rates of return on FDIUS. These
factors included the following: Economies of
scale and the advantages of vertical integration,
differences between countries in the treatment
of taxes, and avoidance of tariffs and nontariff
barriers.
The analysis that follows covers the rates of return on FDIUS for 10 of the 11 countries that were
the largest direct investors in the United States
during the last decade.5 In 1991, these 10 countries accounted for over 90 percent of cumulative
FDIUS, and the top 5 accounted for over 75 percent (table 2). It should be noted that underlying
economic conditions and motivations for direct
investment vary markedly among these countries,
and it is difficult to generalize about the factors leading to low rates of return on their direct
investments.
5. Although the Netherlands Antilles' FDIUS position ranks eighth among
all countries, it is excluded from the analysis because of the unique nature of
its inward investment, which resulted from its activity as an offshore financial
center (offshore financial centers were created to avoid certain interest-rate.'
controls, bank lending restrictions and reserve requirements, and other regulatory constraints). Additionally, it had a favorable tax treaty with the United
States that offered an exemption from the withholding tax on certain interest
payments from U.S. affiliates to their Antillean parents. Consequently, foreign corporations made large investments in the United States through their
Antillean affiliates rather than investing directly in the United States.
However, over the past decade, the Netherlands Antilles' share of total
FDIUS has declined substantially. Its current-dollar position has remained
fairly constant since 1984, while its real share of total FDIUS has declined
from 7 percent in 1982 to 2 percent in 1991. This downtrend can be partly
explained by the elimination of U.S. withholding taxes on interest payments
to foreigners in 1984, which largely nullified the Netherlands Antilles' unique
tax advantage.
Table 2.—Top 10 Countries with Largest Foreign Direct
Investments in the United States, 1991
Millions of
dollars
All countries
Top 10 countries
United Kingdom
Japan
Netherlands
Canada
Germany
France ...
Switzerland
Australia
Sweden
Belgium/Luxembourg
Netherlands Antilles '
1. See footnote 5 in the text.
. . ..
407,577
Percent of
total
100
371 927
91
106,064
86658
63848
30,002
28,171
22740
17,594
6626
5,597
4,627
26
?1
16
7
7
6
4
2
1
1
7,948
2
SURVEY OF CURRENT BUSINESS
Transitional factors
Differences in average yields.—During much of
the last decade, average yields on investments in
the top 10 investor countries were below those
in the United States (table 3). Between 1982 and
1989, the average real rate of return on total invested capital—debt and equity combined—was
6.6 percent in these countries, compared with 7.3
percent in the Ignited States. The average yield on
debt in these countries was 4.8 percent, compared
with 6.3 percent; the average yield on equities was
7.6 percent, compared with 7.8 percent.
Table 3.—Rates of Return in the United States and
in the Top 10 Investor Countries
[Percent]
Average in the United
States
198291
Real long-term
interest
rate ]
Earnings/price ratio2
Average total return 3
5.9
7.3
6.8
198289
6.3
7.8
7.3
199091
4.3
5.4
5.0
Average in the top 10 investor countries
198291
4.8
7.4
6.5
198289
4.8
7.6
6.6
199091
5.0
6.7
6.1
1. Data for individual countries were obtained from International Monetary Fund publications;
these data have been weighted by their share of the FDIUS intercompany debt payable
position for the top 10 countries.
2. Data for foreign countries were obtained from Morgan Stanley Capital
International,Perspective (various issues), and for the United States from Standard and Poor's
Corporation,The Analysts Handbook (various issues); the foreign country data have been
weighted by their share of the FDIUS equity pqsitionffor the top 10 countries.
3. For the United States and the top 10 investor countries, average total returns are a
weighted average of the real long-term interest rate and the earnings/price ratio, with the real
long-term interest rate receiving a 35-percent weight and the earnings/price ratio receiving a
65-percent weight. These weights represent the typical financial structure of countries that
value their debt/equity ratios at market value.
FDIUS Foreign direct investment in the United States
August 1992 •
For several of these major investor countries,
the difference between returns on direct equity investments was substantial. For example,
Japanese investors received an average yield of
6.5 percent on their equity FDIUS between 1983
and 1989, compared with a yield of 2.8 percent
on Japanese equities. Thus, returns on Japanese
investments in the United States raised Japanese
investors' aggregate yields, even though they were
lower than the all-U.S.-business average.
Depreciation of the dollar.—A second and more
important factor increasing FDIUS in the 1980'$
was the decline in the value of the U.S. dollar.
In the latter half of the 1980'$, the real value of
the dollar declined 35 percent, and foreign firms
more than doubled their direct investment position. This surge in FDIUS was similar to one that
occurred between 1975 and 1980, when the dollar depreciated about 15 percent and FDIUS more
than tripled.
In the latter half of the 1980*5, overseas investors presumably believed that the dollar was
undervalued and that future returns to dollardenominated direct investments would be well
above their current values. U.S. firms' assets
looked undervalued to those who believed that
the dollar was below its long-run equilibrium
and purchasing-power-parity value. Although it
is difficult to determine the long-run equilibrium
value for the dollar, a number of indicators sup-
Real U.S. Dollar Rate and Foreign Direct Investment Inflows
Million $ (Ratio scale)
1100,000
Index, March 1973 -100
150
130
Foreign Direct Investment Inflows
(right scale)
110
10,000
90
70
1973 1974 1975 1976 1977 1978 1979 1980 1981 1982 1983 1984 1985 1986 1987 1988 1989 1990 1991
Data: Economic Report of the President, February 1992
U.S. Department of Commerce, Bureau of Economic Analysis
1,000
8l
SURVEY OF CURRENT BUSINESS
82 • August 1992
ported the view of investors who believed the
dollar was undervalued. For example, observed
differences in real asset prices—such as those between Japanese and U.S. real estate iiid stock
market investments—as well as estimates of the
purchasing power of the dollar and of relative
U.S. unit labor costs, suggested the dollar was
undervalued.6 As chart i shows, the surges in
FDIUS in both the late 1970*5 and the late ipSo's
6. According to Organisation for Economic Co-operation and Development estimates of purchasing-power parity, the dollar was undervalued
by roughly 19 percent against the currencies of the major industrialized
economies in 1990. Estimates by the Federal Reserve Board indicated that
U.S. unit labor costs were roughly 15 percent below those of the other major
industrialized countries. For a different perspective on the effect of the dollar
occurred when the dollar was below its 1973 value,
which may be regarded as a rough indicator of
the dollar's equilibrium value.
Rates of return on new direct investments.—The
combined effects of higher relative rates of rer
turn on investments in the United States and
the depreciation of the dollar made U.S. returns
look particularly attractive to overseas companies that had increased profits from sales to U.S.
markets and had thereby accumulated substantial cash reserves. For these firms, increasing
on FDIUS, see Graham and Krugman, Foreign Direct Investment, 44-47 and
80-82.
Table 4.—Rate of Return on Assets of U.S. Companies in Year Prior to Foreign Acquisition Compared
With All U.S. Nonfinancial Corporations
[Percent]
Foreign direct investment in the United States:
Total
Manufacturing
All U S nonfinancial corporations
J
1. Income is measured as total receipts less total deductions after total net tax liability, as
published by the Internal Revenue Service. Total receipts less total deductions, after taxes, have
been adjusted to remove foreign source income and to add the part of the capital consumption
adjustment in the national income and product accounts that adjusts for consistent accounting
at historical cost. Total assets is that published by the Federal Reserve Board in Balance Sheets
i^
1982
1983
1984
1985
1986
16
16
09
-1 6
07
8
18
28
08
4
36
46
52
48
40
1987
1988
1989
1990
24
17
03
8
03
30
o
49
55
46
38
for the U.S. Economy, 1960-91; the published totals have been adjusted to exclude claims on
foreign affiliates. In this measure of total assets, tangible assets are valued at historical cost, and
claims on other nonfinancial corporations are excluded.
NOTE.—Rate of return is measured as net income to total assets.
iwnpnies lif yj$f$$$f
Acquisition Compared With All U .S. Nonfinancial Corporations
All U.S. Nonfinancial Corporations 1
X
;;-;,":;:1;^:;';Vv;;,
~*0fei0rt$ted^
>;1984 _
,
;;' ' •'.; 1985
4
®:':''^<:^
199ia
.
.' ', •. ...
Total receipts less total deductions after taxes have been adjusted to remove foreign source income and to add the part of the capital consumption adjustment in the national income
''
'"'''"''""'""' '
"
'
"'"'"' • ' " • - - " ..,.-.'.
...........'. .
....... ^ . . ^^ggj-^^^^jij^^^
sarevaluedathistorical
SURVEY OF CURRENT BUSINESS
their U.S. presence through direct investment was
attractive from an investment as well as an operations perspective. The combination of these
factors may even have encouraged companies
abroad to buy financially distressed U.S. companies as long-term investments. Presumably,
foreign companies either believed that they could
turn their U.S. investments around over time
by using their expertise in product development,
process technology, and management, or they believed that they fcould achieve higher returns from
an appreciation of the dollar.
During the 1980*8, about three-fourths of all
FDIUS was for acquiring existing companies, and
about one-fourth was for establishing new companies. For the companies established, rates of
return were low or negative because of the startup
costs that all new firms experience. For the companies acquired, rates of return were already low
or negative: Between 1982 and 1990, the rate
of return on assets for U.S. companies in the
year before their acquisition by foreigners was
i.o percent, compared with 4.6 percent for all
U.S. nonfinancial companies (table 4, chart 2).7
In addition, the foreign owners' newly acquired
companies not only began with below-average returns, but presumably these returns were lowered
further as owners restructured these companies
by investing in new plant and equipment and in
modernization of older plants, by writing-off and
closing obsolete units, by increasing marketing
efforts, and by aggressively pricing their products
to regain market share.
Recent developments.—By 1990, many of the transitional factors that had encouraged direct investment in the United States were no longer present.
Other countries' current-account surpluses with
the United States were reduced. Multinational
companies needed to reduce debt and rebuild
their balance sheets, and their bankers needed to
limit credit and meet higher capital standards.
At the same time, the Relative real rates of return on investments were reversed, as U.S. real
interest rates and returns to equities decreased in
relation to those abroad (table 3). In late 1990
and early 1991, the slide in the value of the dollar
stopped, and its value began to increase, which
raised the cost to foreign investors of new direct
investments in the United States. These developments combined to produce a sharp drop in
7. For the most recently published data on U.S. companies in the year
before their acquisition by foreign parents, see "U.S. Business Enterprises
Acquired or Established by Foreign Direct Investors in 1991," SURVEY 72 (May
1992): 69-79.
FDIUS from $67.8 billion in 1989 to $11.5 billion
in 1991.
With the slowdown in new FDIUS, the rates of
return on existing FDIUS should rise as these investments mature. Rates of return on USDIA have
shown this pattern, and there is some evidence
that rates of return on FDIUS have tended to rise
over time as well.8 However, long-term factors
may continue to hold down FDIUS rates of return.
Long-term factors
Vertical integration.—One fundamental reason
for foreign companies to make direct investments in other countries is to achieve vertical
integration.9 Owning both "upstream" raw material and production facilities and "downstream"
distribution outlets may make it easier to further
penetrate foreign markets. Through U.S. affiliates, foreign parent companies can better design,
manufacture, distribute, and service products
for the special requirements of the U.S. market.
Either through resale of the foreign parent's products by their U.S. affiliates or through sales of the
parent's products as inputs to the affiliates, increased sales of the parent's products can achieve
economies of scale in home-country production,
resulting in lower unit production costs for their
products.
Besides company affiliation, U.S. affiliates of
foreign multinational companies cite other reasons for relying on imports from the parent
company, including product quality, assured
sources of supply, and specialized product needs.
Presumably, vertical integration and maximizing
total company profits also play a role. Whatever
the reasons, foreign-owned affiliates do have a
higher propensity to import than do U.S. multinational companies in the United States. Imports
by U.S. affiliates of foreign multinationals accounted for 24 percent of their total purchases of
inputs in 1987, compared with 8 percent for U.S.
multinational companies (table 5). Part of the
higher propensity to import is explained by the
practice of using U.S. affiliates mainly as distribution outlets. Overall, U.S. affiliates' imports for
resale as a share of their total sales was 15 percent
8. For a discussion of the increase in returns with age on USDIA in manufacturing affiliates, see LA. Lupo, Arnold Gilbert, and Michael Liliestedt,
"The Relationship Between Age and Rate of Return of Foreign Manufacturing Affiliates of U.S. Manufacturing Parent Companies," SURVEY 58 (August
1978): 60-66. For a general discussion of the effect of age on profitability,
see P.M. Scherer, Industrial Market Structure and Economic Performance, 3rd
edition (Boston: Houghton Mifflin Company, 1990): 172-174.
9. For a general discussion of vertical integration as a motivation for
foreign direct investment, see Richard E. Caves, "The Multinational Enterprise
as an Economic Organization," in Multinational Enterprise and Economic
Analysis (Cambridge: Cambridge University Press, 1983): 15-24 and 95; and
Scherer, Industrial Market Structure, 94-96 and 109-111.
August 1992
•
83
August 1992
SURVEY OF CURRENT BUSINESS
in 1987; for several direct investors, the share was
much higher (table 6).
With a vertically integrated company, the profits resulting from economies of scale can be
allocated among the parent and its affiliates in order to maximize total returns. Such decisions can
affect rates of return on individual investments.
For example, a company that requires access to
a scarce raw material may accept a lower rate of
return on its "upstream" investments in mining
because such access will raise its global profits.
Alternatively, a company may accept lower returns on its "downstream" operations because,
through vertical integration, it can raise total
sales and take advantage of economies of scale
and technological efficiencies that raise its total
profits.
Taxes.—Differences in tax treatment across countries can significantly affect both the location of
direct investment and, through "transfer pricing," the distribution of profits between parent
and affiliate.10 If the effective tax rate on the
10. For further discussion of the use of transfer pricing between parent
and affiliate to reallocate income for tax purposes, see Graham and Krugman,
Foreign Direct Investment, 82-83; and Mohammad F. Al-Eryani, Pervaiz Alam,
and Syed H. Akhter, "Transfer Pricing Determinants of U.S. Multinationals,"
Journal of International Business Studies, 3rd quarter, 1990: 409-425.
For more information on how effective tax rates affect the flow of investment to domestic or foreign locations, see Joel Slemrod, "Tax Effects
on Foreign Direct Investment in the United States: Evidence from a CrossCountry Comparison," in Taxation in the Global Economy, Assaf Razin and
Joel Slemrod, eds., (Chicago: The University of Chicago Press, 1990): 79-122;
Avoidance of tariffs and nontariff barriers.—
Tariffs and nontariff barriers raise the cost
of exports and provide an incentive for forand Kan H. Young, "The Effects of Taxes and Rates of Return on Foreign
Direct Investment in the United States," National Tax journal (March 1988):
109-121.
Table 5.—Operating Characteristics of Foreign Direct
Investment in the United States
Operating characteristic
domestic income of the foreign parent is lower
than that on the income earned by the U.S. affiliate, the company can raise its total return by
shifting income from the affiliate to the parent.
This is achieved through use of transfer prices for
transactions between the affiliate and its parent,
whereby the company raises the price of exports
to the affiliate and lowers the price of imports
from the affiliate.
In table 7, effective tax rates on income from
investments in U.S. affiliates are compared with
those on income from domestic investments for
the top 10 foreign investor countries (as before,
excluding the Netherlands Antilles). Computations of effective tax rates are subject to considerable uncertainty and are sensitive to the
assumptions made regarding such variables as inflation and the financing mix. However, the rates
in table 7, which are derived from a recent study
on effective tax rates by the Organisation of Economic Co-operation and Development (OECD),
show that foreign parents in all but one of the
10 major investor countries may have an incentive to transfer income from their U.S. affiliates
to themselves.11
1977 1987
Vertical integration (ratio of gross product to sales):
Parents of U S multinationals
U S affiliates of foreign multinationals
37
18
37
21
Propensity to import for inputs (ratio of imports to total purchases of
inputs):
Parents of U S multinationals .
U.S. affiliates of foreign multinationals
9
27
8
24
Local content (ratio of local inputs to sales):
Parents of U S multinationals
U S affiliates of foreign multinationals
95
79
95
81
11. See OECD, Taxing Profits in a Global Economy:
International Issues (Paris: OECD, 1991).
Table 7.—Effective Tax Rates on Income from Investments
in U.S. Affiliates Compared With Domestic Investments,
January 1991
Effective tax rate for income from:
Ratio of effective
tax rate for investment in U.S.
affiliate to effecInvestment
Domestic
tive tax rate for
in U.S. af- investment
domestic investfiliate
ment
Source: U.S. Department of Commerce, Bureau of Economic Analysis; Council of Economic
Advisers.
Table 6.—U.S. Affiliate Imports for Resale as a Share
of Total Sales, 1987
[Percent]
All countries
Top 10 countries:
Japan
Sweden
Germany
Switzerland
Belgium/Luxembourg
Canada
France
United Kingdom
Netherlands
Australia
14.7
.
339
Australia
Belgium
Canada
France
Germany
Japan
Luxembourg
Netherlands
Sweden
Switzerland
United Kingdom
44
43
53
46
46
56
40
40
48
38
38
43
24
49
38
23
49
40
30
30
25
37
1.03
1.78
1.08
1.22
2.00
1.14
.98
1.34
1.62
1.51
1.04
United States
44
44
1.00
21.6
189
11 1
..
NOTE—Imports and sales are identified by country of foreign parent.
8.7
5.3
47
3.6
31
2.3
Domestic and
NOTE.—The effective tax rate is calculated as the difference between the return before
corporate taxes that is required to generate a 5-percent return before personal taxes, and the
return after both corporate and personal taxes divided by the return before corporate taxes.
The results are based on the following assumptions: Investment financing includes one-third
each from intercompany debt, new equity, and reinvested earnings; the source of funds for
financing is from the parent's home country; inflation is at a 4.5-percent annual rate; and the
top tax rate is used for personal income.
Source: Organisation for Economic Co-operation and Development, Taxing Profits in a Global
Economy: Domestic and International Issues. Paris, 1991, tables 5.4, 5.8, and 5.11.
SURVEY OF CURRENT BUSINESS
eigners to invest abroad.12 In recent years,
direct investments in the U.S. auto industry
were presumably related to actual and potential restrictions on vehicle exports to the United
States. In addition, direct investment in several
industries—televisions, typewriters, semiconductors, and automobiles—may have been related
to antidumping suits and antidumping duties
against foreign producers of these products. In
these cases, the1 motive for direct investment may
be to avoid tariffs and nontariff barriers in order to maximize total company returns, rather
than to maximize returns on the direct investment. For example, a foreign manufacturer can
avoid antidumping duties by exporting parts and
components, on which there is no duty, for final
assembly by the U.S. affiliate, rather than exporting the finished product, on which antidumping
duties would be levied.
Importance of country-specific factors
The complex interrelationship among the factors
that have caused rates of return to be lower for
FDIUS than for all U.S. businesses is perhaps best
demonstrated by an examination of the direct investment activities of companies from different
countries. This section contrasts the activities of
the two largest investor countries—Japan and the
United Kingdom (table 8). Together, these two
countries accounted for nearly one-half of the
FDIUS position on a historical-cost basis in 1991.
In 1982, the United Kingdom had the largest position, and it maintained that standing during the
's; Japan had the fifth largest position in 1982
12. For a discussion of how foreign direct investment is motivated by the
desire to avoid tariffs and nontariff barriers, see "Strengthening GATT Antidumping Rules," Economic Report of the President (Washington, DC: U.S.
Government Printing Office, 1992): 219; and U.S. Congress, U.S. Trade Restraints: Effects on Foreign Investment, report prepared by James K. Jackson
(Washington, DC: Library of Congress, 1989).
Table 8.—Financial and Tax Factors Affecting Japanese
and British Direct Investment in the United States
[Percent]
Top 10
countries
Japan
United
Kingdom
All U.S.
businesses
Real long-term interest rate: ]
Average for 1982-91
Average for 1986-91
4.8
46
4.6
41
4.5
40
5.9
48
Earnings/price ratio: 2
Average for 1982-91
Average for 1986-91
7.4
69
3.0
23
8.7
83
7.3
6.5
Effective tax rates, January 1991:3
Investment in U.S. affiliates
Domestic investments
45
38
56
49
38
37
44
44
1. See footnote 1 to table 3.
2. See footnote 2 to table 3.
3. Source is same as that for table 7. Effective tax rates for individual countries have been
weighted by their share of the FDIUS total position for the top 10 countries.
and the second largest position at the end of the
i98o's.
In terms of Japan's rates of return and the
factors that have driven these returns, Japanese
FDIUS was typical of FDIUS as a whole during
the last decade. Large current-account surpluses
in the 1980*5 in combination with relatively low
rates of return in Japan led to large flows of direct investment capital from Japanese companies
that were seeking higher returns in the United
States. Low rates of return for U.S. companies
in the year prior to their acquisition, along with
high restructuring costs after acquisition, led to
low earnings by affiliates of Japanese parents.
Vertical integration, indicated by U.S. affiliates'
heavy reliance on imports for immediate resale,
and practices related to vertical integration, such
as transfer pricing, further depressed returns on
direct investment.13 Effective tax rates on the
domestic income of Japanese parents were lower
than those on the income of their U.S. affiliates,
which created an incentive to shift profits from
the United States to Japan. Finally, tariffs and
nontariff barriers, such as Voluntary Restraint
Agreements (VRA'S) and antidumping suits and
duties, may have induced Japanese companies to
substitute assembly and production plants in the
United States for final goods exports from Japan.
By contrast, for British FDIUS, rates of return
and the factors that have driven these returns are
largely dissimilar to those for all FDIUS. Throughout the i98o's, the United Kingdom maintained
only small current-account surpluses and had
higher-than-average expected rates of return at
home. Although the flow of direct investment
from the United Kingdom during this period
was the largest in absolute terms, from 1983 to
1991 new flows accounted for a much smaller
percentage of the direct investment position of
the United Kingdom than that for Japan. Thus,
while British investors probably also bought some
low-return U.S. companies and encountered similarly high restructuring costs, these low returns
would have been more than offset by higher returns on the United Kingdom's larger stock of
more mature investments. A primary example
of a mature investment is the British investment
in petroleum, which has a diversified structure
within the United States that includes both upstream and downstream activities. Investment
in this industry has boosted the overall British
13. Heavy reliance on imports for immediate resale by U.S. affiliates
of Japanese parents and, more generally, all U.S. affiliates' substantial dependence on imports for use in production, probably also contributed to
reductions in rates of return from 1985-87 because of the steep depreciation
of the dollar.
August 1992 •
85
86 • August 1992
SURVEY OF CURRENT BUSINESS
rate of return; in contrast, Japanese investment
in wholesale trade—typically a more downstream
activity—has held down the overall Japanese rate
of return. In addition, effective tax rates in the
United Kingdom are comparable with those on
British investments in the United States, produc-
ing little incentive for profit shifting. Finally,
imports from the United Kingdom have not generally been in industries subjected to VRA'S or
other nontariff barriers, thus creating no incentive for earning less than the profit-maximizing
return on direct investment. H
August 1992
SURVEY OF CURRENT BUSINESS
Foreign Direct Investment in the United States:
Detail for Historical-Cost Position and Balance of Payments Flows, 1991
THE FOLLOWING TABLES present country-by-industry estimates
and estimates by detailed account for foreign direct investment in
the United States (FDIUS). The tables cover the FDIUS position on
a historical-cost basis and the related capital and income flows.
Tables 16 and 17 present estimates of the position, capital flows,
and income for all countries from which there was investment
and for all industries in which investment was made.
The estimates and table presentation incorporate five changes
from those published in August 1991. First, table i has been
added to show alternative and historical-cost summary estimates
of the foreign direct investment position in the United States
and of rates of return on FDIUS.
Second, as part of the annual revisions to the U.S. international transactions accounts in June 1992, all capital gains and
losses have been removed from direct investment income and
from the reinvested earnings component of direct investment
capital inflows.1 The change in the direct investment position
is not affected by this change because capital gains and losses
have only been reclassified from one component of the change in
the position (capital inflows) to another (valuation adjustments).
Data were revised back to 1982.
Third, table 2 has been added to reconcile the estimates
presented here with those presented in the U.S. international
transactions accounts in the June 1992 SURVEY OF CURRENT
BUSINESS. The estimates in this issue do not incorporate two
changes introduced in June, because the source data needed to
i.. For a full discussion of the changes in the treatment of direct investment transactions
in the U.S. international transactions accounts, see "U.S. International Transactions" in the
June 1992 SURVEY OF CURRENT BUSINESS.
carry these changes to the detailed country and industry level
presented here are not available. The following changes were
not incorporated: The adjustment of the earnings component
of direct investment income and the reinvested earnings component of direct investment capital inflows to reflect current-period
prices, and the recording of direct investment current-account
items gross (before deduction) of U.S. and foreign withholding
taxes.
Fourth, a new methodology has been introduced to account
for equity capital increases and decreases of delinquent reporters,
beginning with estimates for 1990.
Fifth, former tables 5 and 6, as published in August 1991, have
been dropped, and the information they contained has been
largely incorporated into the other tables.
Summary estimates and analyses of the position, valued in
current-period prices as well as historical costs, were published
in the June 1992 SURVEY article "The International Investment
Position of the United States in 1991." Summary estimates
and analyses of the flows on a current-cost basis and gross
of withholding taxes were published in "U.S. International
Transactions," also in the June 1992 issue.
The survey from which the estimates were derived was conducted by Gregory G. Fouch under the supervision of James L.
Bomkamp. Richard L. Boohaker, Nancy F. Halvorson, Tracy
K. Leigh, and Beverly E. Palmer assisted with the survey and
with the preparation of the estimates. D. Richard Mauery
programmed the tables.
Tables i through 18 follow. H
SURVEY OF CURRENT BUSINESS
88 • August 1992
Table 1.—Alternative Position and Rate of Return Estimates for Foreign Direct Investment in the United States: 1989-91
[Millions of dollars or percent]
Change in 1990 (decrease (-))
Position
at yearend 1989
Valuation method
368,924
433,164
534,734
Historical cost
Current cost ....
Market value
Total
27,778
33,351
1,826
Capital
inflows
46,108
45,137
45,137
Rate of return '
Change in 1991 (decrease (-))
Attributable to:
Valuation
adjustments
-18,330
-11,786
-43,311
Position
at yearend 1990
Position
at yearend 1991
Attributable to:
Total
396,702
466,515
536,560
Valuation
adjustments
Capital
inflows
10,875
20,507
117,534
12,619
1 1 ,497
11,497
-1,744
9,010
106,037
1989
407,577
487,022
654,094
1990
1991
0.4
.2
-.3
2.2
1.6
2.2
-0.7
-.8
-.2
1. Equals direct investment income divided by the average of the beginning- and end-of-year direct investment
positions. For the historical-cost rate of return, direct investment income (table 2, line 14) is measured after deduction
of U.S. and foreign withholding taxes on distributed earnings and interest and excludes a current-cost adjustment
to earnings and capital gains and losses. For the current-cost rate of return, income (table 2, line 1) is measured
before deduction of U.S. and foreign withholding taxes on distributed earnings and interest and includes a currentcost adjustment to earnings; capita! gains and losses are excluded. For the market-value rate of return, income
(line 1 minus line 8 from table 2 plus part of column 11 from table 5) is measured before deduction of U.S. and
foreign withholding taxes on distributed earnings and interest and excludes a current-cost adjustment to earnings;
capital gains and losses are included.
Table 2.—Foreign Direct Investment in the United States: Reconciliation
With International Transactions Accounts
Table 3.—Foreign Direct Investment Position in the United States
on a Historical-Cost Basis
[Millions of dollars]
Direct investment position
Line
1
2
3
4
5
6
7
1989
Income with current-cost adjustment, before deduction of withholding
taxes (IT table 1, line 26, with sign reversed)
Earnings
Distributed earnings
Reinvested earnings
... .
Interest, net
U S affiliates' payments
U.S. affiliates' receipts
8
9
10
11
12
13
Less* Current-cost adjustment to earnings
Less: Withholding taxes net
On distributed earnings
On interest, net
On U.S. affiliates' payments
On U S affiliates' receipts
14
Equals: Income without current-cost adjustment, after deduction of
withholding taxes (shown in the accompanying tables)
15
16
17
18
19
20
21
22
. .
...
Capital inflows with current-cost adjustment (IT table 1, line 57)
Equity capital
Increases in equity capital
Decreases in equity capital
Reinvested earnings (line 4)
Intercompany debt
U S affiliates' payables
U.S. affiliates' receivables
23
Less: Current-cost adjustment (line 8)
24
Equals: Capital inflows without current-cost adjustment (shown in the
accompanying tables
Equity capital (line 16)
Reinvested earnings without current-cost adjustment (line 19 less line
25
26
27
Intercompany debt (line 20)
28
29
30
Royalties and license fees, before deduction of withholding taxes, net
U.S. affiliates' payments (IT table 1, part of line 22, with sign reversed) .
U S affiliates' receipts (IT table 1 part of line 8)
31
32
33
Less: Withholding taxes, net
..
On U S affiliates' payments
On U.S. affiliates' receipts
34
35
36
Equals: Royalties and license fees, after deduction of withholding
taxes net (shown in the accompanying tables)
U S affiliates' payments
..
U.S affiliates' receipts
37
Charges for other services, before deduction of withholding taxes,
net
38
39
1
U.S. affiliates' payments (IT table 1, part of line 23, with sign reversed;
also shown in the accompanying tables)
U.S. affiliates' payments (IT table 1, part of line 9, with sign reversed;
also shown in the accompanying tables)
1990
1991
Millions of dollars
1989
6,643
-570
7958
-8528
7,213
9117
1,083
-6,967
9320
-16287
8,049
-1,903
9951
-1 ,902
-1 138
-971
290
273
17
72
55
7,491
67,872
51,776
59257
7481
-8,528
24,624
26117
1,494
-1,138
69010
51 776
489
448
42
79
37
1,564
45,137
57,041
62880
5840
-16,287
4,383
18368
13,985
-971
46108
57041
-3,675
-12,399
7648
-20 046
8,723
11 018
2,295
1 122
354
311
42
87
45
-2,907
11,497
27,925
32191
4267
-20,046
3,618
5238
1,620
-1,122
12619
27925
-7,390
24,624
-15,316
4,383
-18,924
3,618
1,284
1,632
349
1,555
1,931
376
2,161
2,674
514
35
52
17
43
62
19
60
86
26
1,249
1,580
1,512
1,869
2,101
2,589
331
357
488
-50
-249
-618
3,128
3,792
4,407
3179
4,040
5,025
1. Withholding taxes on "other" services transactions between U.S. affiliates and their foreign parent groups are
assumed to be negligible and no estimates of them are made. Therefore, there is no difference between the "before-tax" estimates shown in the international transactions accounts and the "after-tax" estimates shown in the accompanying tables.
IT International transactions
1990
Change
Percent
Millions of dollars
1991
1990
1991
1990
27,778
1,820
6,482
5,294
14,182
10,875
-2,210
5,422
2,212
5,452
368,924
40,345
150,949
45,456
132,173
396,702
42,165
157,431
50,750
146,355
407,577
39,955
162,853
52,962
151,807
Canada
Petroleum
Manufacturing
Wholesale trade
Other
30,370
1,141
9,766
2,236
17,227
30,037
1,394
9,652
2,288
16,702
30,002
913
9,662
1,962
17,466
Europe
Petroleum
Manufacturing
Wholesale trade
Other
239,190
32,649
118,129
20,405
68,008
250,973
33,608
121,292
20,806
75,267
258,127
31,989
126,809
21,527
77,801
11,783
959
3,164
401
7,259
56,734
10,061
23,090
3,555
20,028
63,938
12,686
24,717
4,674
21,861
63,848
12,254
24,137
5,276
22,180
7,204
2,625
1,627
1,118
1,833
103,458
16,666
50,166
5,854
30,772
102,790
15,841
47,304
5,112
34,533
106,064
14,238
50,120
5,275
36,431
-668
-825
-2,862
3,761
3,274
-1,604
2,816
163
1,899
67,268
15,601
21,111
30,678
81,775
11
17,153
25,750
38,861
86,658
113
18,657
26,935
40,953
14,506
133
1,553
4,639
8,182
4,883
102
1,504
1,185
2,092
32,096
6,677
7,454
1,705
16,260
33,917
7,152
9,333
1,907
15,526
32,791
6,939
7,726
2,539
15,587
1,822
475
1,879
202
-1,127
All areas
Petroleum
Manufacturing
Wholesale trade
Other
Of which:
Netherlands
Petroleum
Manufacturing
Wholesale trade
Other
United Kingdom
Petroleum
Manufacturing
Wholesale trade
Other
Japan
Petroleum
Manufacturing
Wholesale trade
Other
Other
. ...
Petroleum
Manufacturing
Wholesale trade
Other
'.
. .
-122
..
-332
253
-113
52
-524
-742
-735
1. Percent change is not defined because the position is negative in 1 of the 2 years.
-35
-481
9
-326
763
7,154
-1,619
5,517
721
2,535
-90
-431
-580
602
319
-213
-1,607
632
61
1991
7.5
4.5
4.3
11.6
10.7
-1.1
22.2
-1.2
2.3
-3.0
4.9
2.9
2.7
2.0
10.7
12.7
26.1
7.0
31.5
2.7
-5.2
3.4
4.4
3.7
-.1
-34.5
.1
-14.3
4.6
2.9
-4.8
4.5
3.5
3.4
-.1
-3.4
-2.3
12.9
9.2
1.5
6
3.2
-10.1
6.0
3.2
5.5
-4.9
-5.7
-12.7
12.2
21.6
c)
10.0
22.0
26.7
5.7
7.1
25.2
11.8
-4.5
6.0
952.7
8.8
4.6
5.4
-3.3
-3.0
-17.2
33.2
.4
SURVEY OF CURRENT BUSINESS
August 1992
89
Table 4.—Foreign Direct investment Position in the United States on a Historical-Cost Basis by Account
[Millions of dollars]
1991
1990
Intercompany debt
Intercompany debt
Total
All areas
PetrolGum
Manufacturing
Wholesale trade
Other
Equity1
Net
U.S. affiliates'
payables
U.S. affiliates' receivables
Total
Equity '
Net
U.S. affiliates'
payables
U.S. affiliates' receivables
396,702
42,165
157,431
50,750
146,355
280,453
31,312
105,478
35,690
107,974
116,249
10,854
51,954
15,060
38,381
163,808
12,656
59,870
22,705
68,577
47,559
1,803
7,916
7,645
30,196
407,577
39,955
162,853
52,962
151,807
287,710
30,725
109,803
36,500
110,682
119,867
9,230
53,050
16,462
41,125
169,047
12,112
61,636
23,512
71,786
49,179
2,882
8,586
7,050
30,662
30,037
1,394
9,652
2,288
16,702
23,077
6,960
(D)
1,411
678
(D)
8,847
797
2,312
1,031
4,707
1,887
(°)
900
353
(D)
30,002
913
9,662
1,962
17,466
22,225
(D)
8,299
1,437
(D)
7,778
(°)
8,241
1,610
(D)
i£
524
(D)
10,402
1,033
2,650
842
5,877
2,624
(D)
1,288
318
250,973
33,608
121,292
20,806
75,267
174,683
25,995
78,320
12,824
57,545
76,290
7,614
42,972
7,982
17,722
104,055
8,680
48,603
10,510
36,262
27,766
1,066
5,631
2,528
18,541
258,127
31,989
126,809
21,527
77,801
178,242
25,839
82,539
12,582
57,283
79,885
6,151
44,271
8,945
20,519
109,158
7,819
50,510
11,102
39,727
29,273
1,668
6,239
2,158
19,209
Of which:
Netherlands
Petroleum
Manufacturing
Wholesale trade
Other
63,938
12,686
24,717
4,674
21,861
37,290
(°)
12,674
2,110
(D)
26,647
n
29,083
751
13,297
2,881
12,153
2,435
(D)
1,254
318
(D)
63,848
12,254
24,137
5,276
22,180
37,368
11,578
13,782
2,216
9,792
26,479
676
10,355
3,060
12,389
30,063
706
12,341
3,369
13,646
3,583
30
1,986
310
1,257
United Kingdom
Petroleum
Manufacturing
Wholesale trade
Other
102,790
15,841
47,304
5,112
34,533
67,125
9,527
29,438
2,934
25,226
35,665
6,314
17,866
2,178
9,307
44,774
6,650
19,530
3,305
15,289
9,109
336
1,664
1,127
5,982
106,064
14,238
50,120
5,275
36,431
68,751
(D)
30,288
2,791
(D)
37,313
(D)
19,832
2,484
10,477
(D)
47,790
5,308
21 ,243
3,426
17,813
Japan
Petroleum
Manufacturing
Wholesale trade
Other
.
81,775
11
17,153
25,750
38,861
57,275
(°)
13,067
19,561
24,499
(D)
4,086
6,189
5,507
(°)
n
30,007
181
4,602
8,868
16,355
(D)
517
2,679
(D)
86,658
113
18,657
26,935
40,953
63,207
101
14,470
20,655
27,980
23,451
11
4,187
6,280
12,973
29,328
183
4,527
9,457
15,161
5,876
172
339
3,177
2,188
33,917
7,152
9,333
1,907
15,526
25,418
4,385
5,849
1,695
13,489
8,500
2,767
3,484
212
2,037
20,899
2,999
4,352
2,295
11,252
12,399
231
868
2,084
9,216
32,791
6,939
7,726
2,539
15,587
24,037
(D)
4,496
1,825
(D)
8,754
20,159
3,078
3,950
2,111
11,021
11,405
(D)
720
1,397
Canada
Petroleum
Manufacturing
Wholesale trade
Other
.
.
.
-1 in
,
Europe
Petroleum
Manufacturing
Wholesale trade
Other
Other
. .
Petroleum
Manufacturing
Wholesale trade
Other
D
.
...
...
...
.
.
.
Suppressed to avoid disclosure of data of individual companies.
1. Includes capital stock, additional paid-in capital, retained earnings, and cumulative translation adjustments.
12,043
2,563
(D)
3,230
714
n
n
H
1,411
942
(°)
n
9O • August 1992
SURVEY OF CURRENT BUSINESS
Table 5.—Change in the Historical-Cost Foreign Direct Investment Position in the United States by Account
[Millions of dollars]
Valuation adjustments
Capital nflows
Intercompany debt
Equity capital
Total
Total
0)
(2)
Net
Increases
Decreases
(3)
(4)
(5)
Total
Capital
gains and
losses, including
translation
adjustments
Other
(10)
(11)
(12)
Reinvested
earnings
Net
Increases
in U.S.
affiliates'
payables
Increases
in U.S.
affiliates'
receivables
(6)
(7)
(8)
(9)
18,368
-1,857
1,599
1,940
16,687
13,985
246
1,847
640
11,251
-18,330
1,452
-10,173
-1,840
-7,770
-3,766
-476
-1,010
-747
-1,533
-14,564
1,929
-9,162
-1,093
-6,237
282
(D)
121
76
-1,747
239
-538
(D)
-33
(D)
-556
-1,20«
1990
All areas
Petroleum
Manufacturing
Wholesale trade
Other
Canada
Petroleum
Manufacturing
Wholesale trade
Other
Europe
Petroleum
Manufacturing
Wholesale trade
Other
. . .
..
Of which:
Netherlands
Petroleum
Manufacturing
Wholesale trade
Other
United Kingdom
Petroleum
Manufacturing
Wholesale trade
Other
27,778
1,820
6,482
5,294
14,182
46,108
368
16,655
7,134
21,952
57,041
1,118
22,497
6,916
26,510
62,880
1,183
23.957
7,663
30,077
5,840
65
1,460
747
3,567
-15,316
1,354
-5,593
-1,081
-9,994
4,383
-2,104
-248
1,299
5,436
-332
253
-113
52
-524
1,414
14
712
3,151
(D)
954
158
(D)
3,555
(D)
M
(D)
2,333
404
(D)
-1,287
-41
192
-97
-1,340
^450
(D)
^35
-172
n
-96
150
(D)
164
-1,325
11,783
21,439
959
3,164
401
7,259
10,754
1,603
9,330
33,424
352
16,583
2,118
14,372
37,555
400
17,632
2,808
16,714
4,131
49
1,049
690
2,342
-8,724
1,695
-4,098
-3,260
-2,294
-1,730
29
735
6,005
-1,932
14
778
7,145
9,265
362
1,744
749
6,410
-9,657
1,207
-7,591
-1,202
-2,071
-2,431
(°)
-916
(°)
-685
7,204
2,625
1,627
1,118
1,833
6,397
895
1,889
1,333
2,280
4,625
(D)
1,881
304
(D)
5,728
(D)
1,932
470
(D)
1,103
11
51
165
876
-2,480
593
690
4,252
5,709
138
1,611
1,319
2,640
1,457
807
1,730
698
1,199
(D)
-667
-73
-368
-668
-825
5,226
13,627
1,777
11
-3,607
-1,591
-2,833
-5,894
1,936
-5,217
(D)
-3,252
1,610
-347
-4,980
(D)
-4,452
(D)
-48
-1,808
-495
6,759
(D)
1,088
419
224
(D)
-4,798
$
n
405
-1,407
902
-2,862
11,849
(D)
5,641
165
(D)
-363
-510
-257
-253
15,962
609
0
(D)
-3,125
-30
-1,536
5,126
-352
-2,49(5
8
-1,384
4,980
31
-47
989
4,007
696
-2,180
1<
-270
-152
-265
-112
801
-248
-602
n
-742
-378
3,761
4,271
Japan
Petroleum
Manufacturing
Wholesale trade
Other
14,506
133
1,553
4,639
8,182
17,355
140
2,254
4,949
10,012
15,354
3,886
3,374
(D)
8,308
Other
Petroleum
Manufacturing
Wholesale trade
Other
1,822
475
1,879
202
5,900
462
2,935
693
1,810
5,112
(D)
1,075
1,266
(D)
5,808
564
1,250
1,271
2,723
...
-735
8( )
D
8n
1
(D)
-544
-5,777
-171
-2,212
-453
-175
n
n
-96
1,750
(D)
91
-272
(D)
913
120
(D)
n
-146
(D)
49
-761
-825
-262
-214
-447
-223
-2,848
-7
n
(D)
-914
n
n
n
-85
21
-702
-310
n
-791
(D)
-769
-7,22!)
n
-6,674
(D)
-1,386
1,474
1,803
106
(D)
(D)
n
-617
-331
(D)
-1,829
-288
-1 ,542
7,552
-M
1,945
269
5,385
4,585
-4,078
13
-1 ,056
-444
-268
-3,63-1
281
-1,080
-491
-197
3,618
-1 ,624
1,097
1,402
2,743
5,238
1,620
1,080
670
818
(D)
-49
1,555
236
338
2,967
(D
2,012
-308
-1,493
-168
-313
(D
-8
577
(D)
24
-294
-2,544
-4
-2,540
-1,744
40
-1,195
58
1,055
134
-2,800
-94
466
-647
1,470
737
(D)
387
-35
(D)
1,289
59
1,304
1,508
602
608
-1,058
-43
437
-78
-1,374
-160
-119
-351
1991
All areas
Petroleum
Manufacturing
Wholesale trade
Other
Canada
Petroleum
Manufacturing
Wholesale trade
Other
10,875
-2,210
5,422
2,212
5,452
12,619
-2,251
6,617
2,154
6,099
27,925
113
11,794
2,224
13,794
32,191
812
12,372
2,381
16,627
4,267
699
579
157
2,833
-18,924
-35
-1,324
1,151
(D)
406
-20
(D)
1,691
4
472
540
-3,292
n
(D)
(D
291
8,212
-1,576
5,080
799
3,909
14,310
53
7,623
743
5,891
17,297
(D)
8,054
(D)
7,839
29
2,627
(D)
1,804
206
(D)
-481
9
-326
763
Europe
Petroleum
Manufacturing
Wholesale trade
Other
7,154
-1,619
5,517
721
2,535
Of which:
Netherlands
Petroleum
Manufacturing
Wholesale trade
Other
-90
-431
-580
-539
111
-329
-567
-505
-379
602
319
595
317
3,274
-1,604
2,816
163
1,899
4,210
-1,623
3,329
279
2,225
4,562
japan
Petroleum
Manufacturing
Wholesale trade
Other
4,883
102
1,504
1,185
2,092
5,183
106
1,392
1,289
2,396
9,907
Other
Petroleum
Manufacturing
Wholesale trade
Other
-1,127
548
2,556
(D
675
212
United Kingdom
Petroleum
Manufacturing
Wholesale trade
Other
...
. ...
-213
-1 ,607
632
61
-242
34
395
361
n
1,492
44
(D)
n
3,089
1,289
n
* Less than $500,000 (±).
D
Suppressed to avoid disclosure of data of individual companies.
1. An increase in U.S. affiliates' receivables is a decrease in intercompany debt and, thus, a capital outflow.
n
n
67
-741
-6,273
-1,471
-10,439
-645
-246
-154
-154
-544
1,766
807
3,209
-189
-2,247
(D)
1,170
2,986
(D)
431
(D)
1,948
-9,694
3,595
-1,463
1,298
963
2,797
5,102
3,977
(D)
1,829
208
(D)
1,350
-2,431
-56
4,921
(D)
1,547
46
(D)
359
(D)
55
2
(D)
-71
-1,585
10,349
3
3,103
1,323
5,920
442
(D)
14
34
(D)
-3,676
-31
1 798
-90
-1,756
-1,048
D
2,855
(°)
743
(D)
(D)
299
-2,262
102
254
(D)
2
(D)
n
67
(D)
(D)
-166
-3,841
-907
-4,779
-494
-107
-1,774
-2,000
-214
-130
-387
-319
-1,657
-168
-861
1,907
592
3,465
980
-45
(D)
-1,689
496
(D)
488
1,493
1,647
(D)
1,966
306
(D)
3,016
-1,342
1,713
120
2,524
()
101
91
(D)
-254
502
(D)
-956
-679
2
-76
588
-1,194
-740
79
-403
-184
-231
-595
-371
668
1,148
(D
733
-8
(D
-102
2
1,330
74
6
2
-936
-253
-186
D
( )
-513
-116
-327
369
-301
-$
498
r
-994
(D
-148
-687
n
T
-10
(D)
-64
-401
43
261
n
-74
-201
1,368
n
-395
-153
20
-4
111
-104
-304
1,675
29
-1,641
237
-300
(D)
-354
615
(D)
9
(D)
599
-800
211
-2,117
-15
(D)
-111
12
(D)
-898
21
837
-121
-1,635
233
(D)
-127
n
356
-1,551
(°)
-522
(°)
-926
48
-67
0
206
79
-352
145
-1,820
(°
91
-4
-1,732
-234
-4
-95
-183
n
(")
241
n
NOTE—In this table, unlike in the international transactions accounts, as revised in June 1992, reinvested earnings
are shown without'a current-cpst adjustment.
SURVEY OF CURRENT BUSINESS
August 1992
Table 6.—Foreign Direct Investment in the United States: Earnings and Reinvestment Ratios
[Millions of dollars or ratio]
1990
Total
All areas
Petroleum
Manufacturing
Wholesale trade
Other
-5,996
2,109
-299
-648
-7,157
Canada . .
Petroleum
Manufacturing
Wholesale trade
Other
Europe
Petroleum
Manufacturing
Wholesale trade
Other
Of which:
Netherlands
Petroleum
Manufacturing
Wholesale trade
Other
United Kingdom
Petroleum
Manufacturing
Wholesale trade
Other
Distributed
-15,316
1,354
-5,593
-1,081
-9,994
540
(D)
202
(D)
244
-1,287
-41
192
-97
-1 ,340
S
(D)
-1,096
-1,325
&
^
-1,871
593
-290
-147
.
-2,028
2,972
(D)
2,541
(D)
1 123
. .
Japan
Petroleum
Manufacturing
Wholesale trade
Other
-2,238
-29
-1,500
-68
Other
Petroleum
Manufacturing
Wholesale trade
Other
-1,686
Reinvested
9,320
755
5,294
433
2,838
-746
7,400
(D)
4,874
(D)
1,569
-3,125
-30
-1 ,536
493
2
181
27
283
-2,180
-238
-1,210
.64
2
()
Pi
Pi.48
(22)
()
t2)
(2)
-690
-171
8
8
Pi
-453
-48
-1 ,808
I
-175
-1 ,384
(2)
(2)
(2)
(2)
(2)
-270
-152
-265
-1,493
*D Less than $500,000 (±).
Suppressed to avoid disclosure of data of individual companies.
1. Reinvested earnings divided by earnings.
2. Reinvestment ratio is not defined because reinvested earnings are negative.
.99
Pi
-2,212
-1,407
902
Earnings
Total
Distributed
-11,276
509
-3,166
-1,037
-7,582
7,647
1,249
3,107
434
2,857
-2,235
1,058
(D)
94
(D)
466
-fl
(D)
-1 ,781
<!
P!
-544
887
1
37
107
742
30
(2)
-5,777
-2,480
593
-268
Reinvestment
ratiol
-8,724
1,695
^,098
609
1
399
24
185
4,379
(D)
2,994
(D)
685
-642
1990-91 change in earnings
1991
Earnings
-4,579
(D)
-988
(D)
-3,469
-1,664
-55
-43
-11
-1,554
335
(D)
1,086
n
-963
-2,733
-31
-1,776
8
-934
-1,730
208
-249
-291
-1,397
5,115
(D)
2,853
(D)
1,309
767
1
451
96
220
2,335
(D)
1,215
(D)
622
943
n
23
98
821
532
106
138
29
260
Reinvested
Reinvestment
ratio l
-18,924
-741
-6,273
-1,471
-10,439
-3,292
-645
-246
-154
Total
Distributed
Reinvested
(2)
(2)
(2)
(2)
(2)
-5,281
-1,600
-2,867
1,673
494
-2,187
1
19
-3,608
-2,094
-680
-390
-445
Pi
-1,489
197
517
407
-2,006
-604
-438
-57
907
-2,247
P!( )
-9,694
2
-389
^25
-547
-60
2
-685
()
-3,254
1 877
-1 ,764
Pi
Pi
P!
P!
P!
P!
P!
()
Pi
Pi
-166
-3,841
-907
-4,779
-2,431
-56
-494
-107
-1,774
-2,000
-214
-130
-71
-1,585
-351
739
207
-649
247
136
473
-2,637
-1,296
1 455
'-46
160
2
-3,676
-31
-1,798
-90
-1,756
(2)
-2,262
102
-494
-2
276
76
-292
.49
2
-387
-319
()
(2)
(2)
1 657
-44
475
-279
53
-187
-109
-3
222
-2,285
16
-2,021
12
-259
-969
-1,861
257
-363
998
1 778
-23
-63
49
-649
196
64
438
-593
-1,116
323
-23
223
56
(*)
-14
-9
80
-551
-1
-262
85
372
39
103
-43
1
-23
-83
372
-236
54
-164
158
8
72
35
-2,044
-179
NOTE.—In this table, distributed earnings are shown before deduction of withholding taxes. Unlike in the international transactions accounts, as revised in June 1992, earnings and reinvested earnings are shown here without
a current-cost adjustment.
Table 7.—Foreign Direct Investment in the United States: Income and Its Components
[Millions of dollars]
1990
All areas
Petroleum
Manufacturing
Wholesale trade
Other
Canada
Petroleum
Manufacturing
Wholesale trade
Other
Europe
Petroleum
Manufacturing
Wholesale trade
Other
Of which:
Netherlands
Petroleum
Manufacturing
Wholesale trade
Other
United Kingdom
Petroleum
Manufacturing
Wholesale trade
Other
Total (=
col. 2 less
col. 3 plus
col. 4)
Earnings
Withholding taxes
on distributed earnings
0)
(2)
(3)
1,564
2,955
3,312
-5,996
2,109
-306
-299
-648
-4,397
-7,157
-395
-746
26
435
-48
-808
4,156
3,046
3,858
-11
-2,736
(D)
395
(D)
-1,096
-1,325
&
(9)
9,872
977
4,152
607
4,135
38
(D)
29
(D)
4
389
-1
70
29
292
422
2
83
34
304
33
3
13
5
11
364
(D)
262
5,845
707
3,344
267
1,527
7,175
787
3,532
388
2,469
1,330
80
188
121
941
1,990
72
875
86
957
3,037
595
1,662
116
664
2,074
73
918
(D)
(D)
3,707
(D)
1,746
204
83
2
42
423
12
825
184
670
(D)
84
88
(D)
3,355
622
2,807
122
Japan
Petroleum
Manufacturing
Wholesale trade
Other
-1,234
-22
-1,366
-14
168
-2,238
-29
-1,500
-68
-642
27
Other
Petroleum
Manufacturing
Wholesale trade
Other
-963
-1,686
-268
30
-238
-1,210
19
(8)
448
40
296
19
92
-481
* Less than $500,000 (±).
D
Suppressed to avoid disclosure of data of individual companies.
(7)
(6)
17
0
7
1
8
221
(D)
161
(D)
22
-233
Earnings
1,864
91
245
245
1,284
-1,871
593
-290
-147
-2,028
2,972
(D)
2,541
(D)
-1,123
-1,020
(4)
U.S. affiliates' receipts
Withholding taxes
on distributed earnings
(5)
3
-94
384
Net
U.S. affiliates' payments
Total (=
col. 8 less
col. 9 plus
col. 10)
8,008
887
3,907
362
2,852
(D)
-4,208
102
665
578
-62
-1,080
5,788
2,100
4,042
127
1991
Interest (net of withhold ng taxes)
']6
18
n
1
15
n
n
-2,907
1,170
917
-501
-4,493
-1,841
-180
^0
-95
-1,526
-963
1,031
7
137
60
827
1,172
8
(D)
151
(D)
140
1
(D)
92
(D)
-1,484
-23
-1,636
77
98
-2,733
-31
-1,776
8
742
174
358
6
205
1,104
181
(D)
34
(D)
361
7
(D)
28
(D)
-957
-1,730
208
459
121
-934
-282
-249
-291
-1255
-1,397
(12)
]
456
4
125
46
281
37
4
10
4
20
245
(D)
153
(D)
47
6,199
450
3,614
429
1,707
7,817
587
3,854
532
2,845
1,619
137
241
103
1,138
29
0
20
1
8
110
(D)
65
(D)
21
2,116
67
888
195
965
3,130
401
1,786
155
788
2,298
69
(D)
182
2
(D)
(D)
87
689
(D)
105
(D)
444
74
7
14
1,273
8
142
75
1,047
1,347
9
145
108
1,086
17
0
3
1
14
790
252
373
9
156
1,309
255
379
40
635
519
4
6
31
479
419
1,664
-55
-43
-11
-1,554
335
(D)
1,086
(D)
(11)
115
42
262
25
(D)
(D)
-3,469
U.S. affiliates' receipts
2,250
145
259
170
1,676
-2,235
(D)
152
(D)
-1,781
-988
U.S. affiliates' payments
10,931
855
4,503
726
4,847
311
48
161
20
82
-201
-196
(10)
-11,276
509
-3,166
-1,037
-7,582
-4,579
(D)
-597
Net
8,681
710
4,244
556
3,172
1,375
914
2,472
-1,810
Interest (net of withholding taxes)
(D
24
n3
n
n
1,052
3,819
(D)
1,891
n
1,232
n
2
33
39
NOTE.—In this table, unlike in ihe||r$emati0nal transactions accounts, as revised in June 1992, income and inter'
arrd income and earnings are shown without a current-cost adjustment.
SURVEY OF CURRENT BUSINESS
92 • August 1992
Table 8.—Foreign Direct Investment in the United States: Royalties and License Fees and Charges for Other Services
[Millions of dollars]
1990
1991
Royalties and license fees
U.S. affiliates' payments
Net
All areas
Petroleum
Manufacturing ...
Wholesale trade
Other
1,512
U.S. affiliates' receipts
Charges for other services l
Royalt es and license fees
U.S. affiliates' payments
U.S. affiliates' payments
Net
U.S. affiliates' receipts
Net
5,025
56
n
(DD)
()
69
0
7
8
54
445
-123
139
15
415
887
31
258
74
524
442
154
119
59
109
1,634
17
1,466
61
91
1,920
17
1,594
156
154
286
0
128
95
63
-134
-83
127
-175
-3
2,369
206
1,117
336
709
2,503
289
990
511
713
118
(D)
65
(D)
24
224
0
166
(D)
(D)
269
0
170
(DD)
()
45
0
4
(DD)
( )
144
312
3
248
28
34
169
(D)
68
54
570
(D)
198
30
(D)
715
(°)
253
70
(D)
705
(D)
696
(D)
34
812
(D)
739
(D)
55
106
-69
(D)
-65
-37
778
(D)
243
81
(")
847
189
308
118
232
-609
-23
-53
-204
-329
468
iS
501
0
164
365
-28
575
0
175
381
18
73
0
12
16
46
-635
-1
-117
-281
-236
574
202
106
1,077
23
213
406
435
250
163
18
1,209
2
278
531
398
-9
-104
-73
103
64
501
27
35
201
238
511
131
108
98
174
-22
0
-4
(D)
(D)
38
0
10
(DD)
( )
60
0
13
29
18
-295
-488
-106
102
197
577
49
51
154
323
871
537
156
52
127
3,792
153
1,497
695
1 ,447
4,040
555
1,361
768
1,357
2,101
17
1,624
418
42
Canada
Petroleum
Manufacturing ...
Wholesale trade
Other
-25
27
52
0
8
n
(D)
1,000
21
348
71
561
439
147
73
55
164
-13
6
12
562
-126
274
16
397
n
n
(D)
Europe . ...
Petroleum
Manufacturing
Wholesale trade
Other
1,206
15
1,034
39
118
1,429
15
1,149
109
156
223
1
115
70
38
-193
-149
-12
12
-43
1,821
105
954
222
541
2,014
254
966
210
584
179
0
151
3
24
195
0
153
15
27
17
0
1
12
3
132
(D)
126
(D)
12
250
(*)
191
23
36
390
8„
475
(D)
368
9
(D)
85
0
(D)
(D)
(D)
-145
(D)
-55
-40
(°)
Japan
Petroleum
Manufacturing
Wholesale trade
Other
355
391
238
12
246
15
36
0
25
8
3
Other
Petroleum
Manufacturing ...
Wholesale trade
Other
-23
0
-2
(D)
(D)
22
0
11
(*)
11
45
0
12
(D)
(D)
United Kingdom
Petroleum
Manufacturing
Wholesale trade
Other
.,
n
130
18
.. .
U.S. affiliates' receipts
4,407
286
1,586
815
1,719
-249
-401
136
-73
89
Of which:
Netherlands
Petroleum
Manufacturing
Wholesale trade
Other
U.S. affiliates' payments
-618
-695
42
-338
373
357
1
160
106
91
n9
Net
488
0
160
148
180
1,869
16
1,298
361
194
2,589
15
1,139
256
103
n
(DD)
()
Charges for other services '
U.S. affiliates' receipts
* Less than $500,000 (±).
D
Suppressed to avoid disclosure of data of individual companies.
1. Consists of service charges, rentals for the use of tangible property, and film and television tape rentals. In
1991, U.S. affiliates' payments for service charges were $3,951 million, payments of rentals for the use of tangible
17
1,784
566
222
n
181
-27
n
n
43
(D)
21
n
981
1,544
1,153
1,347
n
property were $450 million, and payments of film and television tape rentals were $6 million; U.S. affiliates' receipts
were $4,837 million, $187 million, and $1 million, respectively.
NOTE.—In this table, unlike in the international transactions account, as revised in June 1992, royalties and license
fees and charges for other services are shown net of withholding taxes.
Table 9.—Foreign Direct Investment in the United States: Position on a Historical-Cost Basis and Balance of Payments Flows,
1982-91
[Millions of dollars]
Direct investment position
Capital inflows (outflows (-))
Equity capital
Reinvested earnings
Intercompany debt
Income
Royalties and license fees net payments
U.S. affiliates' payments
U.S. affiliates' receipts
Charges for other services net payments ^
U.S. affiliates' payments
U.S. affiliates' receipts
.. .
.
19871
1988
1989
1990
1991
220414
263 394
314754
368 924
396 702
407,577
36,145
25086
-239
11 298
59581
34319
579
24683
58,571
45046
1 963
11 562
69,010
51 776
-7390
24624
46,108
57041
-15316
4383
12,619
27,925
18924
3,618
7,548
7,433
8659
12774
7,491
1 564
-2,907
466
568
102
602
773
171
896
1 105
209
1 001
1 244
243
1 249
1 580
331
1 512
1 869
357
2101
2,589
488
696
1,346
2,042
1 284
1,524
2,808
530
2,306
2,836
178
2,582
2,760
50
3,128
3,179
249
3,792
4,040
618
4,407
5,025
1983
124677
137061
164583
184615
13,810
9723
-2361
6448
11,518
8699
-340
3159
25,567
15044
3105
7418
20,490
15214
90
5186
3,174
5169
9,437
325
394
69
405
465
60
597
665
68
-403
1,033
1,436
-471
1,163
1,634
-478
1,351
1,829
1. There is a break in series between 1986 and 1987 because, beginning with 1987, the estimates of all items
have been revised to incorporate the results of the 1987 benchmark survey of foreign direct investment in the U.S.
Previous estimates for these years were, and current estimates of 1982-86 continue to be, linked to the 1980 benchmark survey.
1984
1982
1985
1986
2. Consists of service charges, rentals for the use of tangible property, and film and television tape rentals.
NOTE.—In this table, unlike in the international transactions accounts, as revised in June 1992, income, royalties
and license fees, and charges for other services are shown net of withholding taxes, and capital inflows, reinvested
earnings, and income are shown without a current-cost adjustment.
SURVEY OF CURRENT
BUSINESS
August 1992
93
Table 10.1.—Foreign Direct Investment Position in the United States on a Historical-Cost Basis, 1989
[Millions of dollars]
Manufacturing
All industries
All countries
Canada
Europe
Austria
Belgium
Denmark
Finland
France
t
Germany, Federal Republic of
Ireland
Italy
Liechtenstein
Luxembourg
Netherlands
Norway
Spain
Sweden
Switzerland
United Kingdom
Other
Latin America and Other Western Hemisphere
South and Central America
Brazil
Mexico
Panama
Venezuela
Other
Other Western Hemisphere
Bahamas
Bermuda
Netherlands Antilles
U.K. Islands, Caribbean
Other
Africa
South Africa
Other
Middle East
Israel
Kuwait
Lebanon
Saudi Arabia
United Arab Emirates
Other
Asia and Pacific
Australia
Hong Kong
Japan
Korea, Republic of
Malaysia
New Zealand
Philippines
Singapore
Taiwan
Other
Addenda:
European Communities (12)
OPEC >
Petroleum
Total
Food
and
kindred
products
Chemicals
and
allied
products
fab-
ricated
metals
Machinery
Other
manufactur-
Wholesale
trade
30,386
20,614
13,027
3,562
4,884
584
4,675
20,405
6,207
9,281
6,997
16,879
10,040
12,172
6,433
2
435
(D)
1
118
95
23
20
27
871
(D)
(D)
0
(*)
2,951
119
564
256
27
877
( )
-550
0
22
166
1
67
0
1
95
0
(D)
122
25
359
48
135
(D)
(D)
5,654
1,029
405
(D)
r)
-1
106
1,182
5
4
0
4
874
(D)
683
0
8
1,860
248
35
78
0
(D)
0
0
20
21
70
90
151
(D)
2
-20
3,555
2,386
3,131
3,207
3,879
3,744
2,800
(D)
673
-3
-2
98
143
77
1
150
428
83
220
3,700
46,008
45,456
1,762
4,552
2,236
239,190
32,649
118,129
21,505
33,435
9,289
21,233
32,667
386
" 0
93
943
103
0
(D)
(D)
558
(D)
(D)
3,003
37
(D)
7
103
(D)
8
242
71
179
1,291
D
)
22
1
596
D
)
58
(D)
1,002
10,078
1,103
15,560
1,100
2,466
2,937
4
330
0
-3
66
93
56,734
10,061
23,090
6,769
7,511
0
69
6
_ 31
g 44
223
95
177
407
349
607
45
15
670
55
19
1
3
8,386
8
(D)
-5
(D)
576
601
-4
274
56
3
8
(*)
25
745
2 00
5,435
18,746
103,458
316
n
D
16,666
3,919
11,798
50,166
(D)
32
16,218
1,264
5,819
1,066
428
350
(D)
4
5
( )
33
3,392
1,163
1,036
486
(D)
10,399
-52
1,012
8,733
-215
922
505
26
480
7,588
29
166
82
934
476
318
212,361
8,067
4,592
3,275
30
-2
2
23
689
2,284
2,094
7,773
50
77
1,555
20,483
50
(D)
258
350
(D)
57
1,874
7
(D)
0
-1
0
n
4,324
55
1,934
10
54
2,271
1,460
541
-61
-5
0
-1
-5
0
0
130
-19
-9
D)
-75
-45
-8
-17
(D)
566
-14
(D)
(D)
(D)
415
3,129
445
(D)
-3
n
60
0
2
-28
87
0
1,804
0
R
0
-1
1
-7
(D)
0
3
D
_g
3
n0
129
4
(*)
50
70
4
)
13)
°)
°)
2
(D)
132
-1
(D)
D
( )
(D)
(D)
1,387
289
(D)
I5
n
4,487
7,921
0
25
1
(D)
1,836
1,368
651
(Di
2,650
n
332
211
86
96
11
-9
27
109
0
6
103
0
1,226
863
0
9
D
( )
1
(D)
(D)
(^
-9
0
-33
23
0
-16
51
80
13
1,249
1,727
90
553
595
15
-3
J)
589
175
(D)
142
0
(D)
115
n
380
(°)
(D)
108
373
-211
9
-97
(D\
( 1
1,340
-1,462
0
-1
-1
()
()
-32
(D)
(D)
1
0
1
-4
-3
-1
n0
n
(D)
(D)
-2
0
-1
0
0
-21
-37
2
4
5
0
571
434
(D)
0
(*)
12
(D)
0
(D)
D
( )
0
0
270
D
7
( )
0
0
D
( )
0
0
D
D
0
0
0
0
0
0
0
1,153
2,411
3,314
4,776
-2
(D)
D
( )
2,698
-122
(D)
n
n0
-4
0
n
32,298
3,670
12
( )
(D)
1
-1
n
18,175
1,332
532
15,601
52
41
-44
(D)
401
187
/D\
100,963
D)
0
0
0
-1
678
(D)
2,350
2,527
0
0
D)
13
fi9
41
3
0
38
0
O
158
0
0
0
0
0
191
19
5
19,401
1
28,710
-3
16,671
-9
269
-124
n
e 56
D)
1
D\
5,996
210
350
3,943
n
14
n0
0
0
0
0
6,521
322
44
6,101
22
0
-2
21,409
567
240
21,111
-624
-1
771
( )
98
571
0
n
31
0
n0
76
1
8,660
13
9
10
0
0
0
(D)
187
30,185
-6
17,249
4
5,922
0
8,974
239
0
0
n0
5,500
-54
144
4,963
112
-13
-1
9
6
3
59
39
n
n
1
2
-1
2
)
0
-8
120
(D)
13
D
)
D
n
102
53
29
882
2,337
160
n
n
567
3,024
7,064
4
2
2
n
(D)
n
n
1 411
3,389
(DD)
0
0
-2
1,465
1,374
5,854
(D)
n
8,549
D
(D)
-307
D
10,471
(D)
-9
75,053
4,962
1,124
67,268
(D)
n
( )
n
2,5 24
3,782
2,455
112
119
/D\
n
3,832
8,915
198
(D)
4
115
(D)
3
0
( )
0
630
4,280
2
Other
industries
22,509
27,839
2,124
28,386
1,416
1,436
Services
2,078
15,110
460
1,297
15,365
Real
estate
18,657
38,408
868
n
()
Insurance
1,716
23,585
9,766
R
Finance,
except
banking
18,431
150,949
1,141
656
Banking
-271
40,345
30,370
3,799
Retail
trade
ing
368,924
* Less than $500,000 (±).
D
Suppressed to avoid disclosure of data of individual companies.
1. OPEC is the Organization of Petroleum Exporting Countries. Its members are Algeria, Ecuador, Gabon, Indonesia, Iran, Iraq, Kuwait, Libya, Nigeria, Qatar, Saudi Arabia, the United Arab Emirates, and Venezuela.
Primary
and
52
n
113
-774
52
9,291
n0
32
0
17
(D)
6
r0
1
-9
0
272
6
54
143
28
42
2,378
15
90
n
(D)
10
419
118
64
901
98
(D)
151
42
2
(*)
0
66
0
66
20
0
20
119
-6
125
0
0
0
0
0
0
0
939
-1
906
(D)
114
(D)
-107
63
3
33
n
D
1,736
n
40
5
(D)
(D)
11,808
-7
368
148
10,665
0
( )
0
D
n
4
0
6
4,250
154
25
4,043
(°)
0
76
2
91
0
(*)
()
n0
296
0
(D)
-1
(D)
(D)
26
6,634
13,037
1
9,707
986
n
n
n
-3
(D)
0
0
2
-2
(")
11,510
( )
0
-2
n
1,353
(D)
779
94
$
n
-1
0
1
6,066
138
SURVEY OF CURRENT BUSINESS
94 • August 1992
Table 10.2.—Foreign Direct Investment Position in the United States on a Historical-Cost Basis, 1990
[Millions of dollars]
Manufacturing
All countries
Canada
Europe
Austria
Belgium
Denmark
Finland
France
1
Germany
Ireland
Italy
Liechtenstein
Luxembourg
Netherlands
Norway
Spain
Sweden
Switzerland
United Kingdom
Other
Latin America and Other Western Hemisphere
45,847
15,523
27,521
45,598
4,438
2,288
-979
Insurance
Real
estate
Services
Other
industries
10,129
24,922
34,552
31,557
17,587
1,762
1,987
4,030
4,687
579
4,636
2,619
(DD)
()
0
(D)
-3,223
18,540
(*).
10,602
1
63
0
21
244
141
17,559
0
3
161
28
1,983
10,978
n.0
196
8,241
54
-93
40
(D)
1,218
6,404
110
357
58
55
4,674
1,331
5
2
0
1
1,682
772
(D)
675
0
-7
2,361
-1,125
(DD)
( )
-21
(°)
2,057
2,837
0
(D)
0
0
3,717
1,329
(D)
21
80
143
4,832
196
(D)
-22
-25
719
5,732
2,838
4,816
13
-9
20
1,488
1,396
17,053
10
104
101
894
1,228
5,112
83
(D)
64
(D)
223
2,557
0
62
354
(D)
59
1,983
110
-2
(DD)
( )
1,137
3,739
-3
(D)
(D)
691
3,600
6,855
0
(
!
172
206
3,504
21
152
572
8,430
2
2
-3
-440
201
7,465
(D)
1,849
2,226
4,244
(D)
256
6
57
132
26
36
-28
-2
-37
11
0
0
-21
57
81
(D)
(D)
4,272
(°)
77
4,004
161
206
21
-10
158
28
9
172
396,702
42,165
157,431
22,943
30,037
1,394
9,652
986
551
1,871
1,807
250,973
623
3,866
819
1,513
18,665
33,608
0
(D)
20,334
0
(D)
R
0
(DD)
()
19,623
76
(D)
101
89
(D)
31,417
13
294
74
312
3,878
20,806
141
347
248
37
851
6,727
-1
623
(D)
1,496
39,607
(D)
990
(DD)
()
4,068
10,310
(D)
121,292
132
1,366
203
1,008
13,669
28,309
1,208
1,869
181
2,118
63,938
151
7
69
-5
(D)
12,686
15,695
215
768
49
9
24,717
126
78
17
1
3
7,439
8,306
7
504
0
-3
8,133
1,180
0
73
7
4
1,437
3,325
-54
39
2
-8
3,950
2,758
184
135
39
14
3,757
773
790
5,467
17,745
102,790
299
8
0
213
124
15,841
(D)
374
123
5,238
10,393
47,304
29
<]
(DD)
( )
603
3,273
13,420
-1
R
275
26
(
S
0
(D)
8,679
8
-11
3,270
1,987
1,567
(D)
n
n
1
3
32
-3
(D)
64
0
6
59
0
-41
82
-4
88
-16
-12
26
1,344
415
153
(°)
(°)
426
913
0
12
852
1
48
(°)
(D)
0
n
363
-2
(D)
118
4
(D)
2,907
-2
1,784
0
222
0
(D)
133
(D)
0
-iQ
291
1
Other Western Hemisphere
Bahamas
Bermuda
Netherlands Antilles
U.K. Islands, Caribbean
Other
13,596
1,508
1,517
12,584
-2,935
923
1,359
(D)
15
(DD)
(D)
()
4,850
(D)
294
4,450
209
(D)
249
0
512
10
502
(D)
0
(D)
(D)
-12
(D)
2
0
2
4,423
626
1,831
-18
1,803
97
85
(D)
D0
(D)
-2
(D)
0
0
0
0
0
0
0
91,141
6,539
1,199
81,775
-1,000
56
138
74
1,147
824
389
2,630
2,612
(D)
11
224,447
4,246
1,822
-2
-8
0
(D)
0
-2
n
169
<<•n!
80
0
(°)
(°)D
()
(DD)
( 0)
0
(D0)
0
n
|D\
0
(D)
8
n0
(D0)
0
0
n
1,382
250
(D)
793
8
2
D
()
3
20,811
2,106
339
17,153
91
32
-7
11
495
442
149
%
n66
161
(D)
n
fl
33,153
2,420
104,068
(D)
17,917
-1
35,447
-8
8,828
(D)
-5
18,731
-104
-50
578
387
(D)
3
8,877
(D
-10
9
n
(D)
3,335
0
n
2,872
50,750
Banking
Retail
trade
104
239
573
-65
211
472
-5
-41
( 0)
(D0)
(D)
n
18
Wholesale
trade
(D)
-14
-14
5,423
1,010
(D)
3,606
-24
(D)
3,101
0
-1
-3
fl
*D Less than $500,000 (±)
Suppressed to avoid disclosure of data of individual companies.
1. In the corresponding table for 1989, this line includes only the Federal Republic of Germany. In this table
Finance,
except
banking
Total
2,368
Addenda:
European Communities (12)
OPEC2
Other
manufacturing
Food
and
kindred
products
6,020
378
550
4,099
489
503
Asia and Pacific
Australia
Hona Kona
Japan
Korea Republic of
Malaysia
New Zealand
Philippines
Singapore
Taiwan
Other
Machinery
Petroleum
19,616
Middle East
Israel
Kuwait
Lebanon
Saudi Arabia
United Arab Emirates
Other
Primary
and
fabricated
metals
All industries
South and Central America
Brazil
Mexico
Panama
. ..
Venezuela
Other
Africa
South Africa
Other
Chemicals
and
allied
products
3,247
755
(D)
2,326
42
0
0
0
n
-39
93
44
(D)
67
(D)
1,904
(D)
1,308
197
272
(D)
4
-1
5
-1
-22
1
(D)
0
-3
0
-2
0
0
*
3
'«•!
0
0
n
2,505
-1n
n
n
573
353
n
R
0
1
-58
72
1
420
27
395
n
14
T0
-9
-3
-6
552
443
1
0
2
34
71
n
(D)
0
0
0
12
0
-12
17
0
17
0
0
0
0
0
0
0
D
D
939
-1
945
-26
19
3
-2
207
0
(D)
0
16,110
401
171
15,084
14
2
28
-1
8,951
1,361
(D)
7,393
fl
n
<">
0
n0
1
6,476
641
10
5,730
35
-1
(°)
(D)
4
(D)
51
25,750
525
302
25,750
1 092
14
48
8
46
93
55
858
(D)
88
639
0
0
0
143
172
n
n
13,708
-2
28,168
18,260
1
6,480
395
7,955
174
2,417
(D)
n
(D 0
^0
a( )
D
n
(D
l
(D)
6,098
483
164
5,203
5
32
1
1
49
140
20
6,618
-37
178
5,931
146
8
78
-4,567
0
0
0
()
n
1,970
16
53
1,345
499
57
0
D
T
n
n0
n
7,313
-1,231
23
8,605
B
-28
0
203
-127
()
()
388
5
0
78
T0
n
14,076
n
n
n
n4
n0
(D)
-1
0
2
72
-11
10,134
999
16,751
193
n
25
n
27
145
(DD)
( )
n
53
45
404
1,480
n
n
(D)
42
n
1
-2
(D)
R
-21
820
87
(*)
20
(D)
4
0
n
11,151
83
for 1990, it also includes the former German Democratic Republic (GDR). This change has no effect on the data
because, prior to 1990, there were no U.S. affiliates of the former GDR.
2. See footnote 1, table 10.1.
SURVEY OF CURRENT BUSINESS
August 1992 •
95
Table 10.3.—Foreign Direct Investment Position in the United States on a Historical-Cost Basis, 1991
[Millions of dollars]
Manufacturing
Chemicals
and
allied
products
Primary
and
fabricated
metals
Machinery
Other
manufacturing
Wholesale
trade
Finance,
except
banking
Insurance
Real
estate
Services
Other
industries
20,655
9,196
33,306
33,747
31,511
16,662
1,978
2,462
5,294
4,086
939
4,398
4,347
-3
702
(D)
1
189
8,579
-62
(D)
63
84
1,286
-1,357
25,192
-80
0
(D)
-2,009
fl0
19,963
2
11
179
29
2,236
10,425
(D)
1,370
10,653
1
60
0
-1
127
6,601
129
466
52
74
5,276
1,012
5
-6
0
(D)
256
838
-4,193
1,174
(D)
20
26
100
5,090
647
(D)
(D)
175
3,186
4,774.
0
(D)
0
0
5,171
213
829
1
-2
1,933
-29
42
(D)
1,041
10
-6
1,423
1,349
18,371
(D)
194
94
632
1,338
5,275
72
n
73
6
106
1,982
0
-4
621
71
40
2,269
89
-2
(D)
(D)
1,564
2,445
-8
158
(D)
972
3,956
7,826
0
(
1
341
111
3,482
20
3,081
2,026
2,242
1,813
99
1,945
386
139
26
75
32
-8
13
1,887
(D)
1,258
152
327
(D)
34
0
6
27
0
903
0
12
904
4
-16
(D)
(D)
0
0
(D)
1,173
251
(°)
1,581
495
223
276
125
462
231
0
(D)
144
(D)
0
285
-2,228
(D)
(D)
0
(D)
-9
-3
-6
(DD)
( )
(D)
(D)
0
D0
All industries
Petroleum
Total
Food
and
kindred
products
407,577
39,955
162,853
23,370
49,133
15,780
27,637
46,934
30,002
913
9,662
948
655
1,814
1,927
4,318
258,127
472
3,653
1,219
1,547
22,740
31,989
21,065
43,820
(D)
952
13
2,980
126,809
139
1,225
560
920
14,821
10,468
(D)
11
(°)
520
2,498
19,417
78
3
100
22
1,538
Germany1
Ireland
Italy
Liechtenstein
Luxembourg . .
Netherlands
28,171
1,292
2,859
98
974
63,848
559
5
-88
D
( )
43
12,254
16,546
217
2,428
39
38
24,137
-45
119
17
(D)
2
8,175
789
0
Norway
Spain
Sweden
Switzerland
United Kingdom
Other
556
1,161
5,597
17,594
106,064
282
T(°)
138
(D)
9
n
14,238
(D)
339
108
5,343
9,781
50,120
47
1,990
8,691
(D)
909
3,225
15,844
-2
17,673
2,385
3,664
241
318
95
6,466
488
608
4,367
544
458
11,208
1,195
1,323
7,948
1,030
527
75
225
407
13
-17
3,137
12
110
2,746
271
-3
-7
-3
99
-20
-15
(°)
-10
(D)
220
0
(D)
192
(*)
All countries
Europe
Austria
Belgium
Denmark
Finland .
France
, ('
..(
'
Latin America and Other Western Hemisphere
South and Central America
Brazil
Mexico
Panama
Venezuela
Other
Other Western Hemisphere
Bahamas
Bermuda
Netherlands Antilles
U K. Islands, Caribbean
Other
Africa
South Africa
Other
Middle East
Israel
Kuwait
Lebanon
Saudi Arabia
United Arab Emirates
Other
Asia and Pacific
Australia
. ..
Hong Kong
Japan
Korea Republic of
Malaysia
New Zealand
Philippines
Sinaaoore
Taiwan
Other
Addenda:
European Communities (12)
*D Less than $500,000 (±).
Suppressed to avoid disclosure of data of individual companies.
1. See footnote Liable 10.2.
2. See footnote 1, table 10.1.
fl( )
D
(')
1,208
(D)
393
(D)
1,356
(D)
-9
1,390
(DD)
( )
309
-10
319
(D)
0
(D)
4,798
1,085
2,000
-27
1,588
97
55
(D)
0
fl
n
40
(D
r]
(D)
-3
(D)
(D)
-466
96,668
6,626
1,272
86,658
-542
85
131
50
914
1,115
360
232,007
4,275
(D)
n
57
(D)
(D)
1,855
n
^4
n
n
4,195
9,102
9
(D)
0
0
7,071
(D)
n
52,962
6,730
1,962
-1,691
32,040
19
203
68
123
4,736
21,527
117
151
232
72
753
19
2,081
3,995
21
38
-1
-3
4,092
2,705
68
193
(D)
19
2,719
(D)
(D)
298
549
3,110
0
24
-3
2,714
2,668
4,104
27
-72
n
r!0
3
0
3
(D)
-2
(D)
1
3
-2
0
0
0
0
0
0
0
(D)
(D)
0
0
n0
0
n
4,078
6
-53
3,446
3,402
714
(D)
2,504
43
0
5
0
8
n
(DD)
( )
65
0
(
(*)
0
2,798
2,696
-8
113
14
(D)
1,113
-18
3
22,412
2,055
209
18,657
109
28
-8
10
543
729
81
64
261
(D)
31,733
2,228
110,198
-22
18,938
-3
39,329
-11
'l
-3
Banking
193
0
1
-97
D
( )
(D)
4
-5
0
0
0
249
7
(
Retail
trade
n
769
9
fl
R
n
fl
0
0
0
0
fl
8,971
n
-142
-51
-17
-66
-6
-3
70
(D)
_o
261
(D)
n
2,695
44
(D)
-3
(D)
2,307
167
(°)
5
-1
n
21
n
40
(D)
0
-1n
-107
(D)
n
8
-4
-6
1,393
115
-30
0
-41
10
(D)
-11
53
75
(D)
°2
49
210
6
54
96
23
31
1,781
54
146
820
719
42
8
0
8
0
0
0
-50
0
-50
(D)
0
(D)
275
(D)
3
0
0
0
0
0
0
0
0
1,199
-2
1,230
-34
11
2
-8
(D)
0
(D)
0
()
839
763
16
0
-28
35
53
7,455
-90
154
6,797
174
2
(D)
36
(D)
160
184
7,709
(D)
152
9,120
875
(D)
9,102
1,287
156
7,574
()
15,867
392
161
14,948
18
2
33
1
292
23
1
8,387
219
-1 ,434
(D)
19,707
D
10,169
1,271
19,361
109
n
2,208
6,321
470
67
5,396
9
28
-1
1
83
264
4
7,498
883
8
6,542
49
-1
-6
(D)
8
(D)
-5
27,509
559
266
26,935
61
51
-11
17
83
93
1,415
(D)
188
1,102
(D)
0
0
0
0
0
0
13,885
-5
29,076
-3
19,052
5
4,229
(D)
-546
n
5,502
1,991
0
n
n
76
161
(D)
986
181
7,394
(D)
46
29
1
16
0
0
n
(D:
66
-3
151
380
11,033
3
-2
2
-3
0
0
-1
0
n
(D0)
n
n
-805
(D)
-199
n0
(D)
<ri
-30
0
24
(D)
0
n0
-1
D
( 0)
-117
(
572
5
0
75
(D)
0
D0
n
(D)
1,422
(D)
133
1,074
179
n
n
(D)
8{K
l
4
n
-9
-417
(
il
-34
(D)
-98
7
192
ft
6
n
(D0)
-3
(D)
-6
1,526
571
-3
839
89
0
24
(DD)
( )
(D)
10,605
68
SURVEY OF CURRENT BUSINESS
96 • August 1992
Table 11.1—Foreign Direct Investment in the United States: Capital Inflows, 1989
[Millions of dollars; outflows (-)]
Manufacturing
All industries
All countries
Canada
Europe
Austria
Belgium
Denmark
Finland
France
Total
Food
and
kindred
products
Primary
and
fabricated
metals
Machinery
Other
manufacturing
Wholesale
trade
Finance,
except
banking
Banking
Retail
trade
858
38,604
7,757
13,341
3,223
7,820
6,463
4,308
-1,328
11,210
2,239
3,800
6,399
699
50
964
-37
-12
-866
150
1,730
-67
-1,456
1
397
440
340
302
821
43,046
-410
0
(DD)
(D)
(D)
( )
31,706
-5
112
2
815
2,336
7,322
0
(D)
11,791
3,167
(D)
-3
1
(DD)
()
5,846
-11
(D)
3,579
4
-7
0
302
138
1,952
8
108
4
(D)
-127
-238
-2
197
1,566
(D)
13
20
16
181
3,254
(DD)
()
0
(D)
-701
1,473
(*)
502
3,733
-492
(D)
-16
19
(D)
(D)
757
-1
(D
1,433
-2
-35
0
205
0
6
66
170
199
(D)
266
651
l
3
534
2,784
415
1,981
277
.a
785
12
5
2
0
1
-67
356
J3
8
-57
(DD)
( )
-6
545
127
6
(D)
7
-3
-258
1,246
1,703
(D)
9
83
49
2,370
-4
20
-47
109
9
424
(D)
(D)
10
(D)
86
-458
0
(D)
-25
64
-13
n
(DD)
(D)
()
572
8
337
93
(D)
l
r!
-27
2,221
206
0
(D)
0
0
-2
-132
20
10
(D)
-4
-6
4
(DD)
( )
490
1,727
(D)
(D)
(D)
404
577
281
0
-2
n
n
n0
(D0)
364
90
587
5,184
18,939
-78
(D)
-4
(D)
18
-2,972
(D
35
34
-8
3,922
16,096
5
n
n
6,202
(D)
27
156
791
5,941
(°)
-121
0
4,069
591
-136
31
101
-310
-65
106
-134
252
64
3,485
South and Central America
Brazil
Mexico
Panama
Venezuela
....
Other
1,095
145
107
148
616
79
(D)
-33
-1
(D)
-143
19
(D)
-4
(D)
-11
(DD)
()
6
(D)
(°)
(D)
47
62
16
-20
(D)
(D)
52
49
78
(°)
(D)
(D)
0
1
D
( )
2
45
10
21
-10
12
12
18
2,974
(D)
-110
-126
3,201
(D)
-103
(D)
84
-60
52
(D)
36
0
(D)
(D)
105
0
(DD)
(D)
fl
Other Western Hemisphere
Bahamas
Bermuda
...
Netherlands Antilles
UK Islands Caribbean
Other
-110
(D)
0
-17
(D)
4
( )
(DD)
( )
-20
(°)
(D)
-181
12
-59
-86
-44
-3
200
0
(D)
43
(DD)
( )
(D)
4
2
2
n
(D)
n
(D)
-23
fl
8
0
0
0
0
0
0
0
4
(D)
0
0
(D)
0
0
(D)
0
-22
7
(D)
n0
n
(DD)
()
.
f
(
°4
n
8
P10
-36
(D)
Africa
South Africa
Other
55
-11
66
(D
Middle East
Israel
Kuwait
Lebanon
Saudi Arabia
United Arab Emirates
Other
900
15
257
-2
611
2
19
(D)
D0
Asia and Pacific
Australia
Hong Kong
Japan .
Korea Republic of
Malaysia
New Zealand
Philippines
Sinaaoore
Taiwan
Other
Addenda:
European Communities (12)
OPEC1
. . .
19,147
-81
388
18,653
-821
n
l
D
()
( 0)
(D)
(D)
(93D)
(D)
-61
(D
f,
-47
6
471
421
158
-8
35,699
1,503
-629
1,218
n
8
n
(D)
1
(D)
n
n
n
-4
0
n
5,918
-144
342
5,198
9
-1
(D)
(D)
226
324
(D)
437
170
(D)
231
(D)
26,940
(D)
D
( )
0
(D)
n
-1
17
11
n
8n
()
(°)0
(DD)
()
(D)
(D0)
(D0)
0
0
(D)
1,440
-83
(D)
1,160
0
0
1,104
-23
(D)
1,124
0
15
T
(D)
340
2
o
(D)
7,030
(D)
10,829
6
n
(D9)
*D Less than $500,000 (±).
Suppressed to avoid disclosure of data of individual companies.
1. See footnote 1, table 10.1.
NOTE—In this table, unlike in the international transactions accounts, as revised in June 1992, capital inflows
«
T0
h
-2
2
-3
(D)
0
(D)
(D)
0
0
1,892
61
313
1,382
11
-2
3
0
174
fl 8
1,181
(D)
4,756
12
(D
8
n
fl10
1
(D)
D
fl( )
D
0
1,046
-269
12
1,300
8
0
-5
0
(D)
(D)
3,144
1
n
0
(D)
n
51
0
0
i
0
n
(DD)
(13)
2,602
384
-26
3,020
-905
-1
-5
7
12
-5
120
121
0
0
0
0
1,821
-22
are shown without a current-cost adjustment.
80
-4
416
n34
15
0
(D)
14
a_^
0
_-j
22
26
(D)
0
(D)
-3
12
569
-65
15
559
37
n0
8
fl16
(D)
32
-322
(D)
1,516
13
0
2
-17
n
(D)
-3
199
799
-30
0
20
-1
1,940
269
161
1
1
5,991
Latin America and Other Western Hemisphere
Other
industries
Services
Real
estate
1,793
3,738
1,008
850
-13
509
7,323
Norway
.
Spain
Sweden
Switzerland
United Kingdom
Other
Insurance
69,010
290
467
47
998
2,744
Germany Federal Republic of
Ireland
Italy
Liechtenstein
Luxembourg
Netherlands
Petroleum
Chemicals
and
allied
products
8(°)
66
3,230
-1
n
n
n
-24
0
^
()
D
0
(D)
4,097
-478
(D)
4,329
(D30
^
0
(D)
(D)
-1
-15
-I?
-5
r
)
n0
n
0
0
0
0
0
0
0
D
()
n
^8
93
0
0
23
D
( )
0
c
n
(D:
2,482
(D)
47:-:
-1
n
8
27
314
n
-5
§
367
-1,406
-6
145
6
106
1
14
63
2,925
1
-2
0
11
50
707
(")
-469
n
-80
<H
(D)
-10
-2
8
-29
3
-23
-1
-2
-440
3
-64
-379
-4
4
-11
0
-11
R
0
n
n
11
8
322
115
(°)
(D)
0
-•!
_1
(D)
(D)
-8
3
-35
-1
-2
-3
1
n
n
-32
ft'
8n
(D)
3,322
32
2
3,082
2,008
-35
6
2,008
115
n
140
J3
n
n6
(
6
T
n0
(D)
n
n
413
122
3,557
(D)
fl
( )
D
n
i i
fl
485
(D)
%
80
0
0
-552
-211
SURVEY OF CURRENT BUSINESS
August 1992 • 97
Table 11.2.—Foreign Direct Investment in the United States: Capital Inflows, 1990
[Millions of dollars; outflows (-)]
Manufacturing
All industries
All countries
Canada
Europe
Austria
Belgium
Denmark
Finland
France
Germany
Ireland
Italy
Liechtenstein
Luxembourg
Netherlands
South and Central America
Brazil
Mexico .
.
Panama
Venezuela
Other
Other Western Hemisphere
Bahamas
Bermuda
Netherlands Antilles
UK Islands Caribbean
Other
South Africa
Other
Middle East .
Israel
Kuwait
Lebanon ...
Saudi Arabia
United Arab Emirates
Other
Asia and Pacific
Australia ...
Hong Kong
Japan
Korea, Republic of
Malaysia ...
New Zealand
Philippines
Singapore .
Taiwan
Other
Addenda:
European Communities (12)
OPEC2
* Less than $500,000 (±).
D
Suppressed to avoid disclosure of data of individual companies.
1. See footnote 1, table 10.2.
7,134
-155
666
-112
-618
76
10,754
38
214
99
184
5,859
-948
6,847
(D)
247
(D)
(D)
2,386
297
-532
-248
0
(D)
M
-3
(D)
-686
-1
?
a
-602
(D)
4,940
1,072
1,755
4,025
1,563
722
4,073
-2,315
-18
-1
-15
14
-615
-9
74
-9
-621
-15
-34
18,930
1,366
188
17,355
-688
19
45
-5
228
346
77
20,484
-662
560
'-!
580
-41
(D)
512
(D)
11
(D)
R
T(°)
(°)D0
( 0)
(D)
n
(D)
-92
(D)
140
(D)
<g
n
-361
-617
213
23
-3
138
4
3
1,889
5,226
-22
8
4
D
( )
102
0
-139
100
67
1,092
-1,028
1,936
0
915
-45
199
817
-70
16
.
4,650
70
7,866
-108
-560
.
713
-740
712
288
187
588
.
4,166
16,655
14
424
6
1,792
6,397
.
Machinery
368
-210
Latin America and Other Western Hemisphere
Primary
and
fabricated
metals
1,414
726
Norway
Spain
Sweden .
Switzerland
United Kingdom ..
Other
Total
Food
and
kindred
products
46,108
21,439
226
81
165
401
5,726
1
Petroleum
Chemicals
and
allied
products
1
-3
1
P
(b)
-1,508
1,711
(D)
-69
1,644
48
(D)
46
0
-1
51
-4
0
n
52
D
1
?!
3,393
706
-143
2,254
40
-9
98
(D)
104
255
(D)
10,366
(D)
0
0
0
0
0
0
0
275
-18
(D)
87
(D)
a
16
(D)
27
-1,226
-2
P)
159
0
625
D
( )
(D)
-95
-397
n
-5
(D)
-3
(D)
D
( )
0
(D)
P)
n
(D)
%
$
( )
(D)
-27
(D)
1,564
0
30
P)
n4
-218
11
113
3
(D)
-16
(D)
(D)
-21
%
-6
2
535
-11
-3
680
-846
-464
-163
(D)
-1,194
6
-42
1,909
n
-3
n
18
0
-4
-26
(D)
1,637
59
P)
P)
2
-1
aP)
a
n
1,034
128
(D)
562
0
-1
(D)
478
182
(D)
259
^
0
(D0
^0
D
7,196
-4
29
3
129
1,919
-15
0
3
(D)
1,603
20
(D)
0
-2
0
D0
fl
-278
( )'
fl
3,564
(D)
fl
n
-36
(D)
0
8
0
0
1,033
202
-135
989
-7
-9
-2
1
Wholesale
trade
1,503
-27
-6
(D)
-22
6
(D)
(D
(D^0
( 0)
39
(D)
93
-8
a
D
-183
0
1
1
5
493
41
5
-3
3
n
3,539
(*)
-5
-314
815
(D)
45
-4
P)
-81
7
(D)
8( )
34
2
156
0
8
Other
manufacturing
P)
17
4
(D)
D
( )
(D)
p)
n
n
-1
6
16
138
984
(D)
158
10
-2
1,333
54
22
-40
-1,474
(D)
-999
8
-53
-54
15
(D)
314
369
0
-2
0
-3
88
(D)
-14
0
-15
-536
-891
D
D
( )
14
( )
(D
u
n
4,047
6,061
10,479
566
170
161
369
3,090
1,106
2,532
<30
4,676
0
(D)
33
1
1,726
28
(D)
-89
166
0
-15
-7
428
677
R
0
1
-2,506
73
1
46
-1,616
(D)
970
0
125
P)
T
10
52
1,173
8
(D
3
-£,'
fl
-£
2,704
0
-33
|
74
24
-4
1,082
57
157
(D)
(D)
47
0
2
D
( )
D
( )
-16
'l
-11
fl
T(°)
0
-1
-124
-85
-8
-27
-2
-1
1,205
(D)
754
-13
423
(D)
%
338
P)
-21
-365
-20
0
114
34
0
n
8
0
77
0
43
0
5
170
%
n
-20
D
D
( )
P)
-44
61
-2,799
1
(D)
0
?!n
^168
-4
-389
(
-3
-6
-373
6
5
J
1
-1
2
145
-116
J2
10
n
(D)
9
-3
-41
-11
1,342
1
P)
(D)
(D)
-8
-2
-7
3
n
8
8
33
-64
12
2,008
68
(D)
-353
3,154
7
-2
a( )
D
-10
D
()
17
-19
7
D
( )
0
-4
0
-4
(D)
<2
0
fl
n
0
-78
0
-78
-3
0
-3
53
(D)
(D)
-22
6
(D)
0
R
0
0
0
0
0
0
0
39
-1
77
(D)
-21
-1
(D)
(D)
0
(D)
0
-72
0
0
23
22
2
(D)
0
0
(D)
4,574
-67
58
4,949
-15
(D)
-10
-34
1,481
19
81
1,282
36
12
-1
(D)
(D)
( )
n
121
14
n
41
-27
6
860
4
2,065
-2
n
-5
0
nn
266
552
-30
(D)
P)
(D0
D0
()
30
-10
0
175
(D)
0
33
5
0
3
(D)
0
0
(D)
427
2
-940
-69
-1,392
(D)
2,201
-1
-467
15
-12
2
45
34
16
-142
-2,439
193
Services
-15
£
573
213
-37
357
13
-1
(DD)
( )
-9
804
Other
industries
Real
estate
0
0
0
l
Insurance
(D)
-13
-13
(
399
-3
168
(D)
Finance,
except
banking
Banking
15
755
836
0
-358
-200
-378
0
-1
Retail
trade
^0
0
Q
( )
D
-123
(D)
n
-2
5,214
112
23
5.234
8
n
-63
a
an a
$a
3,501
-24
(D)
3,456
(D)
0
n0
0
1,006
52
0
-1
-6
fln
5
0
fl
n
4,532
2,582
-55
P)
2. See footnote 1, table 10.1.
NOTE.—In this table, unlike in the international transactions accounts, as revised in June 1992, capital inflows
are shown without a current-cost adjustment.
SURVEY OF CURRENT BUSINESS
August 1992
Table 11.3.-Foreign Direct Investment in the United States: Capital Inflows, 1991
[Millions of dollars; outflows (-)]
Manufacturing
All industries
All countries
Canada
.
Europe
Austria ,
Belaium
Denmark
Finland
France
Germany l
Ireland
Italy
Liechtenstein
Luxembourg
Netherlands
..
,
Asia and Pacific
Australia
Hong Kong
Japan
Korea Republic of
Malaysia
New Zealand
Philippines
Singapore
Taiwan
Other
77
fl0
2,372
2
8
18
0
245
-392
(D)
-29
(D)
1,122
-3
0
-1
-13
-4
-122
59
(D)
349
19
3
-6
^46
(p)
193
0
-59
(°)
17
-528
595
-325
0
-8
0
D
)
-1,1 13
-74
0
-26
-3
(D)
18
-19
-72
76
1,466
(D)
90
-8
fl( )
8
-47
(D)
828
2
(D)
0
3
-1,040
-391
0
(D)
864
109
-1
-3
-6
7
1,258
96
408
-2
13
(D)
(D)
-505
5,987
186
199
5,183
389
31
-5
-28
-233
292
-27
8,418
123
1,132
31
170
-10
18
-379
-1,623
(D)
-37
-7
251
-467
3,329
18
9
11
(D)
-220
0
-30
* Less than $500,000 (±).
D
Suppressed to avoid disclosure of data of individual companies.
1. See footnote Liable 10.2.
3,678
fl
-215
Addenda:
European Communities (12)
OPEC2
-433
(D)
(D)
0
(D)
1,218
1,290
6
-89
-6
-189
699
484
451
287
-9
.
305
-119
319
(D)
-61
.
-1,6 98
3,038
(D)
-38
(DD)
()
104
-178
.
799
-24
-196
-15
35
-106
583
-112
358
-67
846
-259
...
-193
5,080
20
-3,073
2,342
319
Middle East
Israel
Kuwait
Lebanon
Saudi Arabia
United Arab Emirates
Other
-668
277
-1,576
-718
-325
Africa
South Africa
Other
..
53
-585
8,212
238
106
59
88
31
^5
Other Western Hemisphere
Bahamas
Bermuda
Netherlands Antilles
U.K Islands Caribbean
Other
-700
132
-329
-480
„..„
4,246
296
2,154
-56
(D)
-27
(D)
1
(D)
6
(D)
-3
(D)
-24
(D)
(D)
(D)
(D)
0
(D)
(D)
D0
( 0)
(-1D)
D
41
fl
n
493
D
n
15
689
D
( )
109
(D)
-27
2,658
-1
-i<20
-193
-2
57
-30
-62
-136
-11
14
-155
-7
23
-2
2
2
-1
0
(D)
-39
n
(D)
-6
-1
(D)
-4
(D)
fl0
(~D)
-28
-3
-57
fl
(°)
0
(D)
3
-171
-29
(D)
(
ll
(D)
(D)
40
(D)
(D)
(D)
151
63
(D)
106
1,567
-26
-77
1,392
19
-5
-1
-1
48
287
-69
-1,389
-192
-165
-l
n
333
n
2
(D)
a
fl
-3
-3
-61
-169
-738
15
()
§
D
5,383
(D)
( )
8
-14
0
1
0
1
0
0
0
0
0
0
0
-257
-268
(D)
-17
d
§
873
-2
<r!
n
§
13
D0
(-1
)
0
471
30
(D)
345
S
n
(D)
n
(DD)
()
-23
0
(D)
(D0)
(D0)
0
0
n
144
-17
(D)
143
1
0
4
0
(D)
8
I fl
(°)
2,658
-4
277
(D)
524
8
-1
(DD)
( )
-12
31
-14
-21
3
-13
18
0
(D
8^
0
0
(°)
-226
8
(D)
n
n
n
1
2
-1
0
0
(
l
-24
(D)
-44
-45
54
n
-145
8
104
101
n
•30
0
-6
-2
-1
-133
2,598
1
214
82
70
(D)
-9
0
(D)
(D)
0
n
52
T
-1
n
S
3
-64
542
0
D
)
7 15
-102
D
)
5
0
(D)
8
(DD)
()
-3
-42
2,268
(D)
A
T°)
°i
30
5
0
5
(D)
0
0
0
(D)
-16
117
-3
1,459
-3
923
4
-1,5 J35
(
D
n
18
°4
(D)
-56
8
124
D
(D)
S
455
-487
(°)
100
i 06
(D0
^0
0
0
0
(D)
n0
283
316
15
0
-31
1
-18
887
-47
52
829
29
-4
(D)
-9
(D)
20
15
424
21
n
-55
-4
(D)
993
(D)
n
-31
273
-24
n
-53
-20
261
220
6 01
1,045
242
-2
836
13
-1
(D)
1
0
-4
1,762
2
-37
1,289
477
47
4
-19
-30
-10
38
163
-13
-49
86
3
-5
-2
D
( )
(D)
225
78
564
0
D
-263
a( )
1,213
-385
-36
_H
39
64
(D)
151
1
-23
-156
-164
1
1
1
D
a
47
279
1
-23
(D)
3
'si
)
9
)
2 49
-5 65
0
(D)
^1
n
-2
78
D
)
-68
275
n
(D-4
Other
industries
2,541
2,123
112
396
46
3,704
Services
219
104
-54
2
Real
estate
1,918
389
153
(D
Insurance
-712
3,721
-44
-150
Finance,
except
banking
Banking
Retail
trade
-1,2 91
281
111
385
145
24
4,210
-9
:
Wholesale
trade
6,617
29
South and Central America
Brazil
Mexico
Panama
Venezuela
Other
Other
manufacturing
-539
-986
Latin America and Other Western Hemisphere
Machinery
-2,251
-83
;... .
Primary
and
fabricated
metals
12,619
-443
Norway
Spam
Sweden
Switzerland
United Kingdom
Other
Total
Food
and
kindred
products
-1,324
-157
-184
.....:
Petroleum
Chemicals
and
allied
products
(D)
0
12
( )
-1
170
-81
-1
-227
-47
n
-2
-36
-3
-5
-224
-217
-2,890
-2
2
-4
-1
(D)
n
220
-15
-2,889
(D)
56
-2,970
18
(D)
fl
0
-37
0
-37
(D)
0
(D)
257
-1
282
-9
-8
-1
-6
(D)
0
0
0
0
0
0
0
0
0
a1
n0
(D)
613
(D)
129
699
(D)
/D\
o
(°)
n
-1
170
n0
-181
38
109
-532
-184
-9
-13
-75
4
0
-179
(D)
n
-3
(D)
0
0
(D)
<2
3
(°)
-335
(D)
3,011
-1
45
268
5
n0
(DD)
()
n
282
-7
l°)
246
(D)
(D)
(D)
0
2
(°)
2,600
39
R
-427
-5
-3
-50
-21
-23
n
n
(10D)
-4
-6
(D)
(D)
(D)
-17
(D)
-90
-2
20
.8
-36
n
(°)0
-1
(°)
-3
a
18
21
2
9
(°)(°l
(DI
-310
-15
2. See footnote 1, table 10.1.
NOTE.—In this table, unlike in the international transactions accounts, as revised in June 1992, capital inflow;;
are shown without a current-cost adjustment.
SURVEY OF CURRENT BUSINESS
August 1992 • 99
Table 12.1.—Foreign Direct Investment in the United States: Equity Capital inflows, 1989
[Millions of dollars; outflows (-)]
Manufacturing
All countries
All industries
Petroleum
Total
Food
and
kindred
products
Chemicals
and
allied
products
Primary
and
fabricated
metals
Machinery
Other
manufacturing
Wholesale
trade
Retail
trade
Banking
Finance,
except
banking
Insurance
Real
estate
Services
Other
industries
51,776
1,871
26,320
2,262
9,297
2,255
5,537
6,969
3,900
-149
3,236
5,521
1,878
2,998
5,808
394
Canada .
2,373
(D)
617
(D)
(D)
(D)
(D)
1,632
(D)
(D)
154
(D)
(D)
179
358
354
Europe
Austria
Belgium
Denmark
Finland
France
32,004
380
166
(D)
409
4,519
1,777
0
19,326
2
2,646
0
0
0
3,654
0
0
0
103
573
3,417
2
0
0
2,223
0
0
-5
%
Q
-218
0
138
0
0
D
( )
1,565
(D)
-83
0
8
125
1,425
0
0
0
D0
1,058
0
42
0
0
1
3,112
0
(D)
363
2,766
7,882
0
(D)
0
2
D
( )
2,239
154
8
(DD0
^
1,727
0
0
0
0
280
-502
(D)
0
3
(D)
42
1,329
3
258
0
4
1,970
0
0
( )
0
0
121
776
0
(D)
0
D0
(D)
3
228
571
0
116
0
21
162
(D)
424
0
0
0
53
94
0
0
0
0
(D)
-12
(D)
0
-1
(D)
163
22
0
0
0
583
3
0
0
0
(D)
425
-S
39
0
52
0
0
(D)
4
(D)
255
2,413
9,923
(D)
2
0
0
D
( )
952
0
0
D0
0
0
35
D
( )
1,237
0
5
0
-1
(D)
50
105
319
(D)
0
80
4
22
0
13
600
1
8
n
28
0
0
0
95
18
368
(D)
0
0
0
24
2,906
0
(D)
0
(D)
D
( )
(D)
0
(D)
(D)
-61
189
(D)
(D)<
83
333
34
D
( )
0
D0
185
20
(D)
n
0
6
(D)
( 0)
(D)
2
0
0
2
0
0
9
0
0
9
0
0
3
0
0
3
0
0.
0
0
0
0
0
0
-266
(D)
0
(D)
-269
0
74
0
1
24
49
0
330
0
34
0
0
126
0
n
(D0)
(D)
0
(D)
0
(D)
0
-7
Germany Federal Republic of
Ireland ...
Italy
Liechtenstein
Luxembourg
Netherlands .
Norway ..
Spain
Sweden .
Switzerland
United Kingdom
Other
2,764
(D)
498
5
132
2,884
18
95
665
3,492
15,552
14
. .
Latin America and Other Western Hemisphere
594
South and Central America
Brazil
Mexico
Panama
Venezuela
Other
630
23
241
167
(DD)
( )
Other Western Hemisphere
Bahamas
Bermuda
Netherlands Antilles
U.K. Islands, Caribbean
Other
-37
8
(D)
273
-227
(D)
21
0
21
Africa
South Africa
Other
Middle East . . . .
Israel
Kuwait
Lebanon
Saudi Arabia
United Arab Emirates
Other
Asia and Pacific
Australia
Honaa Kona
.
" a
Japan
Korea Republic of
Malaysia
New Zealand
Philippines
Singapore
Taiwan
Other
.
.
. ..
.
Addenda:
European Communities (12)
*D Less than $500,000 (±).
Suppressed to avoid disclosure of data of individual companies.
1. See footnote 1, table 10.1.
318
3
308
0
2
0
4
()
(D0)
0
0
D0
()
0
0
-10
D0
( 0)
D
()
(D)
4
D0
( 0)
(D
]
(D0
1
D
(D
o>
n
0
0
0
0
0
0
0
0
()
(D)
(D)
( 0)
D
()
(D0)
(D0)
0
0
^
(D
0
-6
0
2
D
( )
(D)
0
0
0
0
0
0
0
^
(D
(D l
(D
(D^
2
0
0
0
0
0
^
(D)
^
(D
^
n
(D)
(D0)
1
0
4
( )
D
0
0
0
8
0
n
n0
0
n0
0
( 0)
0
D0
( 0)
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
6
0
0
770
1,897
(D)
0
D0
16,467
751
489
14,336
184
8
20
1
104
454
121
-124
0
(D)
0
0
0
0
0
0
0
6,172
150
353
5,241
20
0
3
0
(D)
350
(D)
206
D0
153
0
0
0
0
(D)
0
0
1,408
0
0
1,075
0
0
0
0
0
333
0
27,022
489
1,787
(D)
16,279
(D)
1,345
0
7,338
0
()
(D
(D^
^
0
0
0
(a
l
733
(D)
0
0
0
0
0
0
n0
fl0
0
533
1
489
2
0
144
D
( )
1,038
(D)
0
(D)
(D)
(D)
2,060
0
(D)
93
0
0
0
0
0
0
(D
^
0
1
D
( )
0
n
0
0
(0
l
2
(D)
(D)
0
n
(D)
n0
0
n0
n
( 0)
1
s°!
Q
230
V0,'
0
0
-153
0
5
0
0
4
1
0
8( )
D
(D
o>
D0
()
(D0
^
()
0
D1
0
0
0
0
0
0
0
0
0
0
0
0
n0
n
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
n0
n0
8
3
0
0
0
0
4
n
n0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
1,963
(D)
1,826
3
0
1,764
8
0
0
0
0
1,904
(D)
(D0)
646
42
-6
524
29
8
0
1
D
( )
3,718
(D)
0
3,047
0
0
73
4
0
(D)
0
D0
J3
T
3
0
0
(D)
0
2,670
0
n
D
( )
3,029
0
1,788
(D)
0
0
0
0
D0
()
2,134
n
0
1
0
0
0
0
0
0
-219
0
s
2,055
35
n
(D0)
(D0)
( 0)
1,568
1,882
(D)
(D)
1,801
n
37
0
1,180
0
341
0
938
(D)
8^
(D)
D0
0
0
0
0
0
0
( 0)
8
0
0
0
1,409
0
0
0
0
7
(°)
12
(D
n
3
195
"I
0
0
0
0
0
0
,0
514
8
0
0
0
356
0
0
D
( )
0
0
0
0
3,085
(D)
-557
0
(D0
^0
SURVEY OF CURRENT BUSINESS
August 1992
100
Table 12.2.—Foreign Direct Investment in the United States: Equity Capital Inflows, 1990
[Millions of dollars; outflows (-)]
Manufacturing
All industries
All countries
Canada
Europe
Austria
Belgium
Denmark
Finland
France
Germany1
Ireland
Italy
Liechtenstein
Luxembourg
Netherlands
Norway
Spain
Sweden
Switzerland
United Kingdom
Other
..
'...
Latin America and Other Western Hemisphere
South and Central America .
Brazil
Mexico
Panama .
Venezuela
Other
Petroleum
Total
Food
and
kindred
products
Chemicals
and
allied
products
Primary
and
fabricated
metals
Machinery
Other
manufacturing
Wholesale
trade
Retail
trade
Finance,
except
banking
Banking
1,118
22,497
2,971
5,109
1,405
4,568
8,444
6,916
772
3,384
4,314
3,197
5,660
7,601
3,151
(D)
954
(D)
(D)
10
127
472
158
63
283
(D)
(D)
1,001
156
171
33,424
154
(D)
232
192
6,990
352
0
27
0
0
(D)
16,583
(D)
(D)
93
175
4,637
2,337
0
0
D0
4,292
0
(D)
0
886
0
1
D0
2,543
(D)
0
93
6,523
0
0
D0
2,626
133
0
-76
0
0
(D)
1,254
113
(D)
(D)
0
448
3,237
0
-39
0
(D)
280
2,713
0
0
0
0
71
1,331
0
%
2,118
(D)
2
(DD)
( )
256
4,488
0
0
(D)
0
1,196
1,216
0
1
1
2
5
4,777
62
626
30
441
4,625
-1
0
0
0
D0
1,821
29
20
1
0
1,881
0
(D)
531
(D)
10
1
0
445
988
(D)
275
0
-19
304
6
0
0
0
0
D
()
173
9
75
0
588
0
0
0
0
584
(D)
0
(D)
0
0
166
(D)
2
3
0
( )
0
18
1,280
(D)
0
(°)
(D)
0
0
0
D0
0
()
619
1,550
5,641
0
0
( )
(DD)
0
D0
()
<20
(D)
( )
24
165
0
6
364
0
63
270
7
0
0
0
(D)
1,949
0
(D)
166
780
2,438
11,849
7
()
( 0)
D
3,024
()
863
23
8
S
(D)
0
150
D
( 0)
1
D
()
-12
0
0
246
0
0
0
(D)
(
1
B
()
n
328
0
8
0
0
D
( )
76
0
0
0
0
D
( )
886
(D)
0
0
(D)
88
(D)
0
0
50
(D)
12
(D)
0
0
4
(D)
(D)
166
0
D
0
0
773
°u
0
99
181
(D)
45
0
0
0
0
0
0
(D)
0
(D)
12
4
0
5
0
0
5
0
0
0
0
0
0
0
0
20
16
12
7
-17
2
(D)
(D)
44
(D)
0
0
99
0
0
99
0
0
0
0
0
0
0
0
6
0
6
0
0
0
n0
n0
(D)
0
1
415
0
(D)
(D)
288
0
41
0
0
(D)
H0
131
0
0
(DD)
( )
0
0
0
0
0
0
0
137
2
(D)
38
88
0
1,128
-1
(DD)
( )
390
0
0
0
0
0
0
0
0
0
0
0
0
0
n0
n
0
0
0
0
0
0
(D)
0
0
38
0
0
-2
40
0
24
0
0
24
0
0
9
0
0
0
-1
(D )
1,834
0
D
Africa
South Africa
Other
78
(D)
(D)
0
0
0
68
0
68
(D)
0
(D)
(°)T
0
0
0
Middle East
Israel
Kuwait
Lebanon
Saudi Arabia
United Arab Emirates
Other
180
39
116
0
14
0
11
11
4
4
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
4
4
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
36
26
0
0
0
0
11
Asia and Pacific
Australia
Hono Kona
japan
Korea Republic of
Malaysia
New Zealand
Philippines
Sinaaoore
w igu^wiw
Taiwan
Other
17,185
1,207
-38
15,354
160
39
-7
-1
77
346
50
273
135
0
(D)
4,559
470
1,893
(D)
R
3,508
161
D0
3,886
39
(D)
-3
1
(D)
D
( )
38
1,748
73
(°)
1,521
15
(D)
( 0)
719
0
0
719
0
0
0
0
0
0
0
(DD)
( 0)
0
0
0
0
D
( )
0
256
0
0
110
4
(D)
0
0
D0
Addenda:
European Communities (12)
OPEC2
29,741
354
352
(D)
14,196
4
1,783
0
4,144
0
(D)
0
0
0
11
0
0
D1
^
-153
^0
1,665
(D)
0
0
0
2
(D)
0
962
2
(*)
-3
1
0
0
(D)
792
0
2,011
0
5,466
4
430
(D0
(°)0
n
427
(D)
0
0
0
0
0
0
3
0
0
33
62
1
0
0
1
0
0
(D)
0
n
63
ft
415
(D
(D^)
(D
D0
0
1,133
( )
0
(°)
70
n
n
(D)
1,042
( )
24
' i
n
441
-1
0
(D)
282
n
0
697
D
n
39
]
D
J3
T0
(D)
1,582
61
298
0
330
0
()
( 0)
*D Less than $500,000 (±).
Suppressed to avoid disclosure of data of individual companies.
1. See footnote 1, table 10.2.
2. See footnote 1, table 10.1.
Other
industries
Services
57,041
2,160
1
(D)
365
1,006
(D)
Other Western Hemisphere
Bahamas
Bermuda
Netherlands Antilles
U K Islands Caribbean
Other
Real
estate
Insurance
-153
n
132
<2
3,374
()
139
73
18
-4
0
0
(D)
2
(D)
0
0
0
0
0
0
2,056
0
126
0
(
(DD)
( 0)
0
0
0
0
0
0
0
0
0
0
0
D
n
10
34
0
0
n
(D0)
n
(D0)
n0
0
0
0
(D
l
1
(°)
21
(D)
0
0
0
125
76
(D)
75
0
0
-28
0
1,171
l
3,086
T0
2,791
(D)
0
Q
0
()
n
(18D)
9
0
0
0
0
D
n
(D)
(D)
(°)
2,515
0
0
0
0
0
0
0
1,075
-22
2,955
0
2,187
0
1,174
(D)
4,449
42
()
n
n
(D3)
n
(D)
(°)0
{D( )
n
38
39
0
0
(D)
12
42
0
39
0
3
0
0
925
(D)
0
905
0
0
0
D0
n
39
0
0
0
0
n0
0
n
SURVEY OF CURRENT BUSINESS
August 1992
• 1O1
Table 12.3.—Foreign Direct investment in the United States: Equity Capital Inflows, 1991
[Millions of dollars; outflows (-)]
Manufacturing
All industries
Petroleum
Total
Food
and
kindred
products
Chemicals
and
allied
products
2,826
27,925
113
11,794
441
Canada
1,151
(D)
406
8
Europe
14,310
53
0
(D)
0
0
45
7,623
307
0
0
0
0
All countries
58
322
77
421
Austria
Belgium
Denmark
Finland
France
2,127
l
Germany
Ireland
Italy
Liechtenstein
Luxembourg
Netherlands
1,557
.112
599
D
)
D
)
S
2,627
Norway
Spain
Sweden
Switzerland
United Kingdom
Other
0
0
0
0
0
D
( )
D
n0
5
320
1,744
(D)
1,298
(D)
(D)
513
2
(D)
0
0
0
0
1,804
D
3
381
351
757
( )
0
0
( )
12
44
369
4,562
(D)
1,492
34
o
D
(D)
0
0
0
(D)
(D)
2,220
0
0
0
(D
D)
()
1,042
0
n0
0
355
D
( )
o
0
81
258
0
Primary
and
Machinery
Other
manufacturing
972
2,619
4,935
40
125
808
0
0
0
1,639
2,649
D0
0
0
5
D
( )
(D)
fab-
ricated
metals
(D)
n0
()
0
0
0
0
0
0
0
0
0
0
0
0
(D)
(D)
17
0
0
0
6
0
0
6
0
0
0
0
0
0
0
0
0
0
0
0
0
0
(D)
76
D
)
0
(D)
(D)
( /
(D)
1
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
5
0
5
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
308
97
192
0
9
3
7
(D)
3
3
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
1
126
0
0
410
0
0
289
0
0
0
124
(D)
3,701
323
(D)
9,907
111
(D)
30
. .
Addenda:
European Communities (12)
OPEC2
* Less than $500,000 (±)
D
Suppressed to avoid disclosure of data of individual companies.
1. See footnote 1, table 10.2.
2. See footnote 1, table 10.1.
0
3
0
0
0
3,089
59
0
4
0
0
0
0
270
39
0
0
268
12,685
247
47
6,868
0
fl
(D)
0
0
0
0
0
( )
(D)
0
(D)
5
0
4
0
0
0
0
0
0
121
0
300
0
2,055
0
D
0
0
0
(D)
331
(D)
82
36
0
0
30
5
0
(D)
0
( )
0
0
357
(D)
(D)
707
24
(D)
0
818
28
73
220
495
1
11,143
(D)
0
Other Western Hemisphere
Bahamas
Bermuda
Netherlands Antilles
U.K. Islands, Caribbean
Other
Asia and Pacific
Australia
Hong Kong
Japan
Korea, Republic of
Malaysia
New Zealand
Philippines
Singapore
Taiwan
Other
(D)
3
(0
0
0
0
0
0
0
0
0
665
0
( )
D
(D
D
26
(D)
17
(D)
0
0
(D)
634
0
(D)
0
0
(D)
0
0
0
219
0
0
0
0
32
3
D
)
D
)
D
)
44
0
190
53
28
65
38
6
Middle East
Israel
Kuwait
Lebanon
Saudi Arabia
United Arab Emirates
Other
1,853
0
12
D
( )
-29
818
0
South and Central America
Brazil
Mexico
Panama
Venezuela
Other
Africa
South Africa
Other
478
(D)
0
(D)
0
7
0
0
D
( )
(D)
298
(D)
0
0
S
0
0
J)
743
0
0
5
( )
0
0
0
0
0
0
J)
274
374
0
D
)
*)
0
206
62
0
1,416
231
116
0
74
2
(D)
301
( )
0
0
6
0
3,276
3
244
D
)
D
)
0
0
436
0
( )
1,144
-20
(D)
46
n
n0
0
(D0)
2,224
259
1,007
Latin America and Other Western Hemisphere
Retail
trade
-40
0
0
0
0
D
( )
1
0
0
0
0
0
855
0
(D)
823
(D)
0
n0
0
(D)
90
3
690
0
1,296
0
Finance,
except
banking
Wholesale
trade
D
(D)
Banking
(D)
(D)
57
(°)
88
41
(D)
94
0
(D)
222
D
D
(D)
( )
251
0
77
790
21
(D)
109
87
87
42
(D)
(D)
0
0
D
( )
3
0
o
( )
n
28
6
Insurance
835
Real
estate
Other
industries
Services
2,037
1,424
1,196
0
0
845
2
7
(D)
0
126
300
0
0
0
0
D
( )
36
(D)
0
(D)
0
262
5
0
( )
0
0
368
(D)
0
103
237
(D)
186
0
0
0
47
8
294
0
3
0
0
0
324
0
1
0
0
9
780
0
n
413
84
13
20
0
(D)
0
0
0
0
0
0
0
0
0
0
0
0
84
0
(D)
n
n0
13
0
0
(D)
D
( )
0
3,660
-50
336
(D)
0
0
D
( )
0
0
n0
( )
0
0
D
0
0
0
0
(D)
0
0
0
(D)
73
22
0
(D)
(D)
(D)
0
n
n0
0
0
0
0
0
0
393
0
0
(D)
54
0
0
0
0
0
0
0
4
0
4
0
0
0
0
0
0
-1
0
-1
0
0
0
2
0
2
2
2
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
114
94
(D)
0
(D)
3
3
4
0
0
0
0
0
4
0
0
0
0
0
0
0
143
0
143
0
0
0
0
(D)
0
0
0
0
0
0
0
2,186
1,419
(D)
2,103
1
37
0
0
(D1
5
13
1,818
1,289
(D)
966
(D)
(D)
850
8
-3
-3
17C
(D)
0
(D
2,077
0
0
(D)
5
0
0
0
0
(D)
n
17
310
1
o
(D)
0
0
0
0
0
0
0
0
n
832
(D)
0
817
1
0
0
0
0
0
0
2
0
2
( )
3
*)
0
0
0
-2
17
2
0
0
0
2
1
0
(D)
0
0
2,526
0
642
0
322
0
1,667
50
203
3
302
0
609
143
840
1,185
0
(D)
0
0
0
0
D
D
)
)
D
)
D
o
0
0
6
1,010
(D)
0
0
4
0
0
0
955
(D)
3
0
6
263
(D)
0
121
0
0
(D)
0
0
1O2
SURVEY OF CURRENT BUSINESS
August 1992
Table 13.1.—Foreign Direct Investment in the United States: Reinvested Earnings, 1989
[Millions of dollars]
Manufacturing
All industries
All countries
Petroleum
Total
Food
and
kindred
products
Chemicals
and
allied
products
Primary
and
fabricated
metals
-7,390
-1,113
31
-78
1,641
-4
Canada
-1,922
31
240
-31
10
144
Europe
Austria
Belgium
Denmark
Finland
France
-2,883
-90
268
-26
-68
-69
-1,211
0
546
2
29
-10
-38
-77
-36
0
2
3
1,599
0
(DJ
Germany, Federal Republic of
Ireland
Italy
Liechtenstein . . ..
Luxembourg
Netherlands
Norway
Spain
Sweden
Switzerland
United Kingdom
Other
Latin America and Other Western Hemisphere
South and Central America
Brazil
Mexico
Panama
Venezuela
Other
Other Western Hemisphere
Bahamas .
Bermuda
Netherlands Antilles
UK Islands Caribbean
Other
-103
100
-99
-16
-84
83
-11
30
36
107
-2,918
-22
-793
-81
59
-155
-28
39
4
5
(D)
-16
-1
-22
-78
65
-18
2
-3
204
-1n
677
D
( )
90
4
1
( )
-17
102
•Q
-26
-4
0
0
-4
0
0
-8
0
0
-6
-1
0
-13
0
-1
-1
-11
0
110
0
D
D
-142
-1
(D)
143
-9
-12
-9
(D)
-9
-6
-1
(D)
Africa
South Africa
Other
-35
-3
-32
0
0
0
22
0
22
Middle East
Israel ..
Kuwait
Lebanon
Saudi Arabia
United Arab Emirates
Other ..
-83
36
-80
-4
-16
-22
3
(D0)
(D
(D^
(D)
-1,673
-62
-3
-13
2
(D)
40
76
0
-36
0
0
0
0
0
0
0
-2,832
-87
-1,233
43
Asia and Pacific
Australia
Hong Kong
Japan .
Korea Republic of
Malaysia
New Zealand
Philippines
Sinqapore
Taiwan
Other
Addenda:
European Communities (12)
OPEC1
-712
-2
-161
-529
-162
-40
-1,102
-212
(D)
8
112
37
6
(D)
^
-1
n
n
0
-767
J3
-665
* Less than $500,000 (±).
D
Suppressed to avoid disclosure of data of individual companies.
1. See footnote Liable 10.1.
NOTE.—In this table, unlike in the international transactions accounts, as revised in June 1992,
1
283
-1
22
0
0
150
(D)
0
38
382
610
0
6
-8
96
119
257
-1
( )
0
-2
34
-2,175
0
<3
8-8
1
n
-6
-1
-4
6
(D)
360
(D)
-2
1
0
D
( )
-231
1
0
n
110
0
0
23
0
23
0
0
0
0
0
0
0
-1
0
0
0
7
-11
-91
1
-1
-99
0
0
Qn
,g
-2
0
1
29
0
-1
0
0
-134
chinery
-904
2
-3
0
-10
34
T5
1
(D)
50
(D)
0
12
Other
manufacturing
-624
74
43
-121
-761
-1
-8
-2
-20
-20
-308
-1
-33
n0
-334
n
Wholesale
trade
-657
Retail
trade
-113
-50
(D)
2
S
140
320
-1,558
-1,283
-39
(D)
-74
-23
-483
105
-2
-10
0
177
0
-266
(D)
5
-23
4
-49
35
0
-3
0
1
-320
0
5
D
( )
-17
14
-24
( )
D
( )
0
-13
hn
«
-30
_^
-26
-4
0
0
8
10
8
-11
-1
1
-1
0
1
-1
0
-32
-3
2
10
n
(D)
-4
-169
n
0
-3
-1
0
45
-3
-13
, 5
49
6
0
0
0
0
0
0
0
0
0
-23
(D0)
n
n0
T0
0
0
7
7
1
8'(
l
0
n
77
39
D
<4 )
(D(D)
0
fl
1,168
-2
-47
(D)
n0
1
«30
-199
n
-4
-141
-2
0
0
0
<7
-2
-703
n
0
0
n0
-560
9
-1
-508
n0
(D)
0
0
fl
-86
n
8
n
-23
n0
0
0
-310
-5
-25
-64
-217
-1
0
-1
,n
4
-330
n
are shown without a current-cost adjustment.
Other
industries
-178
1
-9
6
-8
42
Services
-838
n
JS0
0
21
-57
4
Real
estate
(D)
2
-15
-11
(D)
-35
1
-49
-12
Insurance
-2,220
14
-321
1
(D)
-11
-7
Finance,
except
banking
Banking
-3
-9
25
-51
9
-2
3
0
0
0
0
^
'Ma-
n
11
-47
0
D
n
(D0)
-68
(D)
2
0
-3
80
-9
15
n
-38
-350
-14
n0
•T
1
n
0
i
4
-5
61
-8
95
0
-119
n
-6
(
l
3
20
30
-4
-236
-2
0
(°)
0
-27
-125
(D)
T
11
0
R
T
-1
n0
0
19
27
(D
9^8
-70
-107
-523
3
11
-490
3
-65
-335
n
-435
1
-207
fl
-7
n
-26
-2
-4
-40
-4
0
-14
1
42
-1
-118
-24
0
(D)
(D)
0
0
-183
-5
fl-2
(D)
(D)
-113
-8
8
-173
(D)
(D)
-55
-33
(D)
-11
0
0
0
0
-22
0
-22
-8
0
-8
-3
-3
7
14
0
0
-7
0
0
0
0
0
0
0
0
-26
-76
0
-32
-9
(D)
0
-73
-74
31
5
0
23
0
0
2
0
n
2
<3
( )
6
3
-4
(D)
-22
-15
0
-10
-5
1
-1
n
-211
46
-62
(°)
-17
14
-79
-14
<J
21
42
8
(D)
D
( )
-348
-1
6
3
-4
-6
-2
26
( )
( )
0
1
(D)
n
-4
-3
-1
n
-136
58
0
-2
-1
-41
-33
-1
0
D
-633
-3
D
n
-1
n0
n0
-275
( )
(D)
-24
-67
164
0
-295
( )
r
32
(D)
(D)
18
0
0
0
0
0
0
0
D
D
S3
<3
n
^
-8
0
-5
-26
-125
-4
-27
0
(D0
n
140
-52
-61
-19
(D)
u
-735
-212
D
n
-2
-4
-16
n
-178
-17
-8
-123
n
5
0
n0
n
-16
-4
0
0
(*)
106
(D)
258
-1
1
-684
-19
",
fl
-336
-68
-3
-261
-3
0
n0
1
n
-2
-646
-79
n
n
n
-2
^43
26
$
-1
0
-2
fl0
n
-41
-21
SURVEY OF CURRENT BUSINESS
August 1992 • 103
Table 13.2.—Foreign Direct Investment in the United States: Reinvested Earnings, 1990
[Millions of dollars]
Manufacturing
All industries
All countries
Petroleum
Total
Food
and
kindred
products
Chemicals
and
allied
products
Primary
and
fabricated
metals
Machinery
Other
manufacturing
Wholesale
trade
Retail
trade
Bank•ing
Finance,
except
banking
Insurance
Real
estate
Services
Other
industries
-421
-15,316
1,354
-5,593
207
1,549
367
-3,058
-4,658
-1,081
-1,502
-2,579
-1,086
541
-3,471
-1,476
Canada
-1,287
-41
192
-20
61
60
72
19
-97
-702
-83
-90
322
-765
-36
13
Europe
Austria
Belgium
Denmark
Finland
France
-8,724
-159
95
-61
-205
-1,755
1,695
0
(D)
-4,098
1
-2
-11
-174
-1,461
384
0
(D)
2
(D)
6
1,575
0
(D)
310
-2,433
-2
-14
-3
-49
-3,934
-495
-3
70
2
2
-1,292
-207
8
fi0
30
-592
0
n3
n
-64
32
-986
n
-29
-2,233
-165
-108
-34
5
-135
-959
-455
-544
9
-5
-23
-2
-83
-519
9
-58
-20
1
-8
187
-1
-3
0
0
-277
-432
-65
-21
-64
33
0
-3
0
-4
-418
-85
(D)
-89
0
(D)
-859
10
4
-55
-5
-13
0
-19
-2
(D)
.
Germany!
Ireland
Italy
Liechtenstein
Luxembourg
Netherlands
Norway
Spain
Sweden
Switzerland
United Kingdom
Other
-805
-81
-370
-69
-75
-2,480
....
....
n6
n
n
-1
-1
<D)
-8
593
(
(
'l
8
-3
1
0
-16
74
-3
-129
1,604
0
3
0
7
-11
212
0
-11
-74
83
902
0
-1,369
(D)
-119
-49
130
15
18
-23
80
41
30
-147
-4
-14
-128
-1
1
-4
0
0
-4
0
0
-1,500
-13
-39
-921
-501
-25
-231
(D)
-23
(D)
-251
1
28
-16
(D)
-46
0
-1
-1
-44
0
Africa
South Africa
Other
-56
-3
-53
0
0
0
(D)
0
(D)
n0
n
Middle East
Israel
Kuwait
Lebanon
Saudi Arabia
United Arab Emirates
Other
.
-86
1
2
-9
-27
-28
-25
3
(D)
(D)
0
0
0
0
0
0
0
Latin America and Other Western Hemisphere
South and Central America
Brazil
Mexico ..
Panama
Venezuela
Other
..
Other Western Hemisphere
Bahamas
Bermuda
Netherlands Antilles
UK Islands Caribbean
Other
Asia and Pacific .. . .
Australia
Hong Kong
Japan
Korea Republic of
Malaysia
New Zealand
Philippines
Singapore
Taiwan
Other
. .
. ..
.....
Addenda:
European Communities (12)
OPEC2
* Less than $500,000 (±).
Suppressed to avoid disclosure of data of individual companies.
1. See footnote 1, table 10.2.
D
8
0
0
(D0)
23
0
-6
1
(D)
127
352
-167
-1,147
-1,407
-44
. . ..
-24
-690
3
-21
-1
-717
-453
-6
l1
3
(D)
0
(D)
-3
912
fi
0
-3,793
-351
-42
-3,125
-156
-7
3
-7
-38
-18
-52
-151
-121
0
-30
0
0
0
0
0
0
0
-1,598
25
-26
-1,536
-14
(*)
-3
-1
-7
-6
-31
-6,968
18
1,614
111
-3,203
(D)
-107
-29
(D)
-60
-172
T29
(D0
^
(D)
0
(D0)
fl
i
4
(D)
(D)
8(°)
•3
16
0
30
0
30
(D
6>
D
°0
0
0
(
'l
0
-105
(D)
()
(D)
(0
1
0
0
n
70
90
2
-16
-3
0
0
0
0
n
-112
0
0
0
0
D
()
4
0
n
-2
401
0
1,673
-1
357
(D)
n
n0
-5
-31
n
-58
-10
-74
(
13
-11
-1
-931
(D)
-66
'l
n
-171
0
-28
-12
-122
(
°4
-7
(D)
-127
n6
fl
97
0
(D)
0
0
-14
n
-2,092
-3
-3
12
-62
-10
-48
-2
^2
56
-99
-201
95
-18
( )
-25
-3
-29
9
5
^0
-1
-2
-3
0
1
-4
0
93
18
41
3
-18
49
17
0
1
16
0
30
(D)
-19
-1
-14
-4
0
0
-17
75
-71
-198
-35
0
-4
-13
0
fl11
2
0
-48
0
0
0
0
0
0
1
-1
-A
0
9
-419
-251
fl0
n
n0
n
q
0
-657
8
-587
-4
0
<2
(°)
-3
-4
-1,968
n
'2
-46
-142
25
(D)
0
-1
0
0
n0
-799
2
-1
-762
-6
0
-3
0
0
-1
-29
-3,666
-1
(
3
<<•!
-29
n
-29
12
12
n
n0
0
0
-324
-13
12
-175
-146
-2
(D)
-1
-3
(D)
-473
-1
0
(
-126
0
°5
-6
-84
-626
-26
-12
(D)
-127
-4
£
n
T
%
n0
0
0
0
0
0
-472
2
-4
-1
-6
-78
-579
-201
0
D
-4
-727
n
-254
3
0
n
-240
1
-5
0
-74
n
91
-1
-135
-208
n
-7
0
-7
8-
-58
-2
-6
!30
-8
0
-654
-6
-545
-200
-8
9
(D)
-72
-148
-2
n
-2
-3
4
n
-132
-45
(D)
3
<3
n
0
0
0
-32
0
-32
-14
0
-14
-6
-3
-3
-55
-15
-14
0
17
16
1
0
-47
(D)
-8
0
8
-16
-1
22
-9
-21
-1
-7
-12
0
<2
n
0
0
0
0
0
0
0
-300
-54
32
-272
21
-5
5
-4
6
-8
-19
-36
42
(°)3D
(°)< )
-116
-393
11
-4
0
-4
n
(D)
-6
-1
-55
-7
8
-14
0
fl
( )
0
112
-139
(D)
-13
-77
-25
(D)
-93
-111
(D)
n0
n
<<•!
-11
-1
-11
D
0
-16
-1,991
-47
3
(°)
n
-76
(D)
0
-1
0
-1
(D)
0
-484
1
(D)
3
q
28
3
n0
5
-639
-61
-29
-469
1
1
-36
-5
(D)
-1
-1,145
(D)
0
-102
",
fl 5
-614
-183
D
( )
-404
•Tn
0
1
11
-595
-14
-39
24
<3
-2
0
(D)
J?n
-116
-29
2. See footnote 1, table 10.1.
NOTE.—In this table, unlike in the international transactions accounts, as revised in June 1992, reinvested earnings
are shown without a current-cost adjustment.
SURVEY OF CURRENT BUSINESS
1O4 • August 1992
Table 13.3.—Foreign Direct Investment in the United States: Reinvested Earnings, 1991
[Millions of dollars]
Manufacturing
All industries
Petroleum
Total
Food
and
kindred
products
Chemicals
and
allied
products
Primary
and
fabricated
metals
Machinery
Other
manufacturing
Wholesale
trade
Retail
trade
Banking
-154
-1,627
Finance,
except
banking
Insurance
Real
estate
Services
Other
industries
-18,924
-741
-6,273
230
79
-2,693
-3,736
-1,471
-1,721
-473
-3,705
-1,539
Canada
-3,292
-645
-246
-66
-57
-85
48
-86
-154
-704
-1
71
-735
-780
93
Europe
Austria
Belgium
Denmark
Finland .
France
-9,694
-166
-3,841
-6
47
-17
397
0
(D)
199
0
51
39
2
-5
0
-27
-46
-1,859
-8
-6
-8
-43
-422
-2,617
-907
-707
-1,550
-29
-22
-9
0
17
-1,241
-618
-120
-98
0
(D)
-310
-8
-34
-306
fl67
n0
-5
r300
^04
(D)
^4
-3
(D)
All countries
Germany l
Ireland
Italy
Liechtenstein
Luxembourg
Netherlands
-212
109
-52
-315
-1,273
....
-1,291
-148
-256
.
-63
-183
-2,431
Norway
Spain
Sweden
Switzerland
United Kingdom
Other
-22
13
-486
Latin America and Other Western Hemisphere
South and Central America
Brazil
Mexico
Panama
Venezuela
Other
.
Other Western Hemisphere
Bahamas
Bermuda
Netherlands Antilles
U K Islands Caribbean
Other
.
.
.
.
.
.
(D)
0
6
32
130
31
50
44
-5
10
-106
-793
-380
-25
-122
-691
-1,194
Middle East
Israel
Kuwait
Lebanon
Saudi Arabia
United Arab Emirates
Other
* Less than $500,000 (±).
D
Suppressed to avoid disclosure of data of individual companies.
1. See footnote 1, table 10.2.
4
-2
2
-1
-2
-56
D
-138
Addenda:
European Communities (12)
OPEC2
-169
-975
-214
Africa
South Africa
Other
Asia and Pacific
Australia
Hong Kong
Japan ..
Korea, Republic of
Malaysia
New Zealand
Philippines
Singapore
Taiwan
Other
?
(b)
-41
-1,020
-2,000
-66
-1,324
-21
.-.
0
-4
-134
-59
-29
-9
33
-27
-31
-34
-225
-3
6
^94
6
-25
-189
-940
-130
a
<ii
127
-6
14
(D)
R
i:!
0
0
2
417
n
-1
0
51
0
-227
-260
178
-1
340
0
( )
-117
-17
27
-2
-7
0
(D)
-116
-1
0
0
-1
0
0
(D)
0
0
(D)
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0
-16
0
(D0)
0
T
(
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8
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4
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n
1
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621
0
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61
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2
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-48
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0
0
0
0
0
0
-55
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0
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n
0
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0
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1
90
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0
-7,558
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i
-222
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R
fl
-79
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n
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-137
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n
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d
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n
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2
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-46
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0
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-22
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186
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n
fl-9
0
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-237
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n
n0
n
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$
(
l
0
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24
15
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n
-18
13
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24
30
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10
5
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80
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128
41
63
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30
34
0
1
33
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0
(D)
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-4
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-17
0
1
(°)
(D)
0
n
(•)
-114
3
(D)
-21
-77
(D)
2
0
(D)
(°)
-1n
22
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-48
0
-25
-3
(D)
1
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(D)
-28
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111
D
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13
1
-50
-311
-583
-46
0
n
-4
-44
-22
-108
'<•!2
-27
-318
-310
-119
-632
-227
-7
0
-6
-1
0
0
n
-565
-221
(D)
11
(D)
-29
-400
-100
-243
9
(D)
n
(D0)
n
(D0)
n0
n
0
0
0
-36
0
-36
-107
-55
2
0
(DD)
()
-22
(D)
10
0
0
0
0
0
0
0
-11
-1
14
-9
-8
-1
-6
-80
-110
15
-21
21
-109
n
(D0)
-1,005
-45
-32
-662
33
-819
-574
36
0
D
fl
-106
(°)
(D-2
^0
1
1
0
21
-2
-1,273
-29
-186
n
'?
n0
0
1
76
-1
n
-11
-1
-82
-2
n
-1,072
n
(D)
0
-37
-5
2
1
-4
n0
n
1
()
-192
-560
n
12
n
-50
-13
-24
325
-72
-5
-108
-542
-710
1,237
.
-1
0
fln
-37
-35
(D)
0
n0
1
(-1D)
-685
-9
-239
-8
-1
-4
-6
2
n
-231
-19
-15
-97
-97
-2
(
3
n
-50
(D)
(D)
0
-1
(D)
-3
n
-6
-183
(D)
0
-1
n
n0
(D)
-507
-30
2. See footnote Liable 10.1.
NOTE.—In this table, unlike in the international transactions accounts, as revised in June 1992, reinvested earnings
are shown without a current-cost adjustment.
SURVEY OF CURRENT BUSINESS
August 1992 • 1O5
Table 14.1.—Foreign Direct Investment in the United States: Intercompany Debt Inflows, 1989
[Millions of dollars; outflows (-)]
Manufacturing
All industries
All countries
Canada
Europe
Austria
Belgium
Denmark
Finland
France
Germany Federal Republic of
Ireland
. .
Italy
Liechtenstein
Luxembourg
Netherlands
Norway
Spain
Sweden
Switzerland
United Kingdom
Other
100
1,342
D
13,925
-1
33
&
-1,706
R
357
-35
-113
.
1,585
6,305
-70
.
Latin America and Other Western Hemisphere
South and Central America
Brazil
Mexico
Panama
'.
Venezuela
Other
Other Western
Bahamas
Bermuda .
Netherlands
U K. Islands
Other
24,624
1,077
(D)
451
-2
460
4,357
.
Hemisphere
Middle East
Israel
Kuwait
Lebanon
Saudi Arabia
United Arab Emirates
Other
Asia and Pacific
Australia
Hong Kong
Japan
Korea Republic of
Malaysia
New Zealand
Philippines
Sinoaoore
.1
,y "
Taiwan
Other
Addenda:
European Communities (12)
OPEC1
..
2,311
(D)
51
-459
(D)
0
3
R
191
-4
%
R
-9
D
)
12
4 90
-3 52
6•88
2 00
79
3,fl
5
25
D
)
-3 59
1,3 90
5,9 15
D
)
R
90
(D)
25
30
99
7
-1
-1
-26
5,481
(D)
373
1
27
n
n0
1
(D)
179
0
0
0
0
4
17
(i
1
0
0
(D)
-2
(D)
0
0
(D)
184
-17
656
n0
(DD)
(89)
1
107
13
454
0
17
13
(D)
(D)
-30
fl0
-6
0
0
-6
50
7
123
16
16
246
282
1
1
D
( )
( )
2,954
-10
10
2
-1
SWO
5,549
356
)
161
0
-177
D
6£5
I 75
-7 41
1,042
118
D
55
n(°) 1
r
i «?
fl °!
1,065
3,186
?!
(°)
(°)
169
n
10
(24D)
88
8
R
0
-235
5
-3
^22
(D)
661
2
3
(D)
D
( )
(D)
302
-2
-136
91
44
-33
-8
635
29
-53
82
(D)
-644
(D)
(D)
)
(D)
-2
(D)
-1
-24
-11
-5
(D)
8
(D)
n
58
14
21
(D)
12
(D)
9
39
53
8
-9
12
-7
20
(D)
-2 40
-199
2
R
69
-9
78
(°)T
665
-25
28
1
625
23
12
666
0
3
*D Less than $500,000 (±).
Suppressed to avoid disclosure of data of individual companies.
1. See footnote 1, table 10.1.
()
5,632
0
(D)
Finance,
except
banking
(D)
-793
.
( )
11,8 84
Banking
43
3
13
-7
20
14
-62
5,420
•
()
-975
0
-189
D
Retail
trade
-197
-670
. .. .
3 73
D
Wholesale
trade
428
(D)
0
0
412
(D)
4,354
..
2,403
D
ricated
metals
Other
manufacturing
440
R
...
5,573
107
fab-
Machinery
546
64
21
9
131
3,437
203
Africa
South Africa
Other
12,2 53
Primary
and
4,269 .
3,723
..
Antilles
Caribbean
Total
Food
and
kindred
products
D
R
.
Petroleum
Chemicals
and
allied
products
8
380
-35
(D)
11,510
1,101
3
625
-1
(D)
-41 ••
141 ,
°!
°i
D
)
D
)
°!]
D
5 13
1
6 22
8
1 1
<;>
11
n
0
0
n
0
-1,183
(D)
10,3 01
19
l
8(°)
4
2
2
-5
(D)
(D)
0
0
0
0
0
0
0
4
( )
0
0
225
181
-7
41
(D)
-5
-8
32
24
(D
0
14
5,655
n
D
1
0
123
-84
,'S0
0
(D)
0
42
0
2
2,324
8
\
30
-1
D
)
0
0
D
D)
D)
)
0
0
°l
0
D0
R
3
4
0
-2
2
-3
(D)
0
(D)
)
T0
2 57
D
)
128
-12
n
n0
3144
n
D0
1
3o
0
)
D0
)
%
(D)
-6 69
D
)
2,790
12
3
1
(D)
-10
(D)
8( )
D
8n
3D0
()
n
0
-220
-281
12
44
(
l
(D)
0
D
( )
(D)
0
5
0
200
(D)
0
R( )
D
0
D
()
(D)
n0
(D0)
n
430
0
15
-97
306
a
0
0
0
-30
-13
(D)
0
-1
0
(D)
1,008
(D)
-2
1,296
0
0
0
0
-8
R
30
0
0
0
0
D0
()
(-3D)
201
1
18
-22
172
(D)
1,874
517
( )
236
-33
420
1,584
2
(D)
0
100
-128
-835
-281
fi0
544
-465
fl
(D)
0
0
39
0
0
15
0
24
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^
R
0
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( 0)
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1,
0
0
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-4
0
0
0
0
0
(
°l
-7
0
0
-7
0
452
(D)
(D)
1,261
(D)
0
8
0
31
0
D0
(D)
2,360
0
*u
°!9
42
158
365
1,378
(D)
30
(
Services
(D)
0
-187
0
0
0
0
0
'-5,-',
8
12
-3
(D)
(
-191
0
0
R
R( )
8 R
D
25
( 0)
-191
0
Other
industries
Real
estate
0
(D)
D0
()
n
1,195
0
Insurance
(D)
0
0
3
3
(°)
n0
n
0
0
0
0
0
0
0
(D)
3
T0
R
0
D0
()
-126
0
<3
-24
R
-68
26
18
(D)
0
(D)
(D
1
-2
7
1
(D)
n0
I?
n
(D)
(D0)
73
0
(
l
(D)
(D)
-37
0
(D)
n
fl
(D0)
(D)
R( )
D
4
(D)
-10
(D)
0
0
n
3
R0
D
()
(D)
3
R( )
D
D
()
D0
8
0
8
24
9
()
l
(D)
(D
30
<a
0
0
0
8
(D)
1,932
(D)
-27
1,797
0
0
13
0
463
(D)
13
5
(D0
^
R
159
(D)
1,119
21
D
()
]
4<3
<3o
0
(D)
(
i
1
(D)
0
0
46
n
1O6 • August 1992
SURVEY OF CURRENT BUSINESS
Table 14.2.—Foreign Direct Investment in the United States: Intercompany Debt Inflows, 1990
[Millions of dollars; outflows (-)]
Manufacturing
All industries
All countries
Canada
Europe
Austria
Belgium
Denmark
Finland
France
Germany l
Ireland
Italy
Liechtenstein
Luxembourg
Netherlands
Norwav
Spain
Sweden
..
Switzerland
United Kingdom
Other
Latin America and Other Western Hemisphere
-796
864
1,299
575
0
-5,667
309
3,872
4,354
-130
175
-172
20
-7
(D)
(D)
-66
42
184
-3,260
230
(D)
-6
414
490
-2,294
0
-136
D
()
-1,730
-3,669
0
-39
980
(D)
165
2,470
-1,086
29
761
-A
374
0
0
0
1u
(D)
-25
1,062
i°!
-3,752
223
-24
0
226
-2,774
1,067
0
0
0
D0
781
0
(D)
D
( )
1,524
0
17*1
-20
0
(D)
(D
s
-424
-3,246
-685
0
-1
0
-481
3
151
0
60
0
5
0
16
D
-48
-23
(D)
(D)
-708
-49
-44
0
-608
8
183
2,684
-1,006
8
4
B
8
Addenda:
European Communities (12)
OPEC2
.
.
. ..
* Less than $500,000 (±).
D
Suppressed to avoid disclosure of data of individual companies.
1. See footnote 1, table 10.2.
2. See footnote 1, table 10.1.
&
0
27
0
n
<<•!
-2
741
-2
T(°)
(°)68
0
0
SI
-97
(D)
9
fi
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(D
6D
-21
(D)
(D)
3
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-40
-40
0
0
0
0
0
0
0
-18
-382
(D)
()
-614
0
( )
0
D
-€08
5,538
511
268
5,126
(D)
D
0
-106
(D)
I
3
-^
433
211
37
-96
14
(D)
104
-627
-5
fl
<1
n
54
0
0
54
126
10
41
37
(D)
£)
a
-196
-31
5
-5
(D)
-2
(D)
a
(14)
87
13
(D)
279
-68
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(D
^02
^
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0
0
1
( )
331
0
1
0
1
(D)
57
-379
(D)
(D)
Q2
0
(D)
-214
-495
-462
-936
(D)
9
-1
(D)
-2
-3
-5
-2
(D)
9
0
(D)
a
6
-1
(D)
48
-100
-94
-13
8
-2
1
67
67
0
0
0
0
148
3
-13
(D)
28
0
1
0
420
(D)
-3
0
1
(D)
0
0
0
0
&a
23
-3
(D)
5
0
0
0
-15
0
(D)
-3,410
-2
1,379
-3
2,414
-7
-1
-41
(D)
0
a
0
0
-203
-3
(D)
-89
(D)
-9
-2
(
(°i)
-70
6
0
0
0
0
0
0
0
a
-36
157
17
-1
-25
-25
n0
n0
0
1,390
-940
1
100
0
-157
-17
0
0
(0
1
0
0
-15
n
T
-10
4
-140
Q
3
-114
1
(D)
-119
D
( )
0
1,141
-1,338
(D)
0
0
T(D
]
0
0
0
T
-25
0
(D)
(D)
1,502
-38
48
(D)
ar
a(D <i i
^ (
-4
0
0
0
D0
()
(-2D)
1
32
0
S0
0
0
0
0
D0
0
-393
(D)
(D)
()
482
-1
773
°
T(
1
()
(D0)
n0
0
(D)
44
0
-1,402
DO
D1
i
a 9
0
B JS
0
1
46
-2,081
0
-16
0
0
1,750
(
i°!
(°)
a
0
0
D
-17
n0
o-
D
62
23
-53
10
20
1,199
a
a
$ aS3 a
a
(
i 8 a
a
n
-165
D
-35
a
a () a
-2
79
-28 -3568
a <<•!
52
2
( )
-2,289
-1,033
1
0
97
(D)
475
-1,861
-3,252
6
-691
.
-512
1,544
13
-20
-13
48
3
190
17
80
1
218
177
-177
8
3,364
1,575
(D)
4,630
-2,820
(D)
.
Other
industries
-62
4°)
.
Services
2,394
Other Western Hemisphere
Bahamas
Bermuda
Netherlands Antilles
UK Islands Caribbean
Other
Asia and Pacific
Australia
Hong Kong
Japan
Korea, Republic of
Malaysia
New Zealand
Philippines
Sinoaoore
Taiwan
. .
Other
Real
estate
n
93
18
-1
(D)
...
Insurance
(D)
-78
-63
(D)
441
.
Finance,
except
banking
Banking
-3,918
South and Central America
Brazil
Mexico
Panama
Venezuela
Other
Middle East
Israel
Kuwait
Lebanon
Saudi Arabia
United Arab Emirates
Other
Retail
trade
-435
833
Africa
South Africa
Other
1,207
Wholesale
trade
-248
3,286
. ...
Other
manufacturing
(D)
-24
-1,852
-5,217
14
.
Machinery
-2,104
8
.
Primary
and
fabricated
metals
-450
168
45
1,426
4,252
. . .
Total
Food
and
kindred
products
4,383
-190
.
Petroleum
Chemicals
and
allied
products
1
o
-623
D
( )
-30
-951
-310
n
0
(}
°o
0
n
-24
0
-3,863
(D)
()
595
99
82
0
(D)
60
869
R
&
D
15
1,992
(
]
(D)
D
( )
(D)
0
1
(D)
(-3D)
0
0
-2
-1
-3
(D)
-1,825
0
(D)
156
2,151
(D)
fl0
12
0
0
12
-1
-2
33
•2
8
145
s
2,152
(D)
(D)
0
(D)
11
0
11
(D)
0
(D)
T( )
(D)
0
(D)
fl
'n1
fl
in
0
0
0
0
0
0
0
<3
i
( )
(
1°)
40
-188
-10
-3
D
1
D
()
2,766
(D)
13
2,912
(°)
0
-39
0
n
2,085
(
r!
(
'l
((DD)
(D)
0
115
0
977
0
677
(D)
-133
a
a
-5
0
4Z0
0
9
( )
D
0
0
0
0
2
(D)
(D)
l
a a
91
1,345
0
0
0
0
-1
0
(D)
i
T
fl
824
(D)
0
164
-4
n
a
?i
1,527
(D)
SURVEY OF CURRENT BUSINESS
August 1992 •
1OJ
Table 14.3.—Foreign Direct Investment in the United States: Intercompany Debt Inflows, 1991
[Millions of dollars; outflows (-)]
Manufacturing
All industries
All countries
3,618
Canada
Europe
Austria
Belgium
Denmark
Finland
France
Petroleum
-1,624
818
Germany l
Ireland
Italy
Liechtenstein
Luxembourg
Netherlands
1,097
-49
3,595
-3
-1,463
0
1,298
13
-615
-257
-158
371
-59
2,851
.>
Total
992
132
-787
370
-390
8 15
-429
177
-8
-61
14
-122
8
404
n
11
525
-118
-9
281
287
1,647
23
Latin America and Other Western Hemisphere
-198
fl
-20
-294
South and Central America
Brazil
Mexico
Panama
Venezuela
Other
. ...
*
Africa
South Africa
Other ....
Middle East
Israel ....
Kuwait ..
Lebanon
Saudi Arabia
United Arab Emirates
Other ....
Asia and Pacific
Australia
Hong Kong
Japan ...
Korea, Republic of
Malaysia
New Zealand
Philippines
Singapore
Taiwan .
Other
Addenda:
European Communities (12)
OPEC2
.
* Less than $500,000 (±).
Suppressed to avoid disclosure of data of individual companies.
1. See footnote 1, table 10.2.
2. See footnote 1, table 10.1.
-82
22
-19
-21
-2
-61
-212
-333
53
-2,501
2,227
343
6
397
104
1,966
-137
-46
-11
-1
30
a
-104
-10
-67
12
298
413
124
0
-256
24
-7
n
9
a
258
-1,048
461
-19
-16
16
44
-16
3,291
-97
-2
-230
-2
12
40
-1
n0
0
0
0
101
-20
-5
-2
0
0
0
0
0
0
0
-297
nO
D
n
57
41
-1
a
8
•a
-47
-2
-1
-3
-149
9
-5
243
1,165
-30
-3
6
496
306
7
11
28
-15
-6
8
D\
DJ
0
0
0
0
0
0
0
1
1
1
41
T
t^
0
-23
133
156
11
3
6
0
0
-527
3
a
-45
-12
-39
-244
a
n
n
-90
D
)
D
)
0
0
0
0
0
0
0
99
96
0
0
3
0
0
"?
617
36
-25
-1
-8
91
D
)
j
12
232
-3
1,235
-2
Finance,
except
banking
268
1,261
-11
-10
-49
-1,470
2
-624
(D)
-10
n
i
-3
0
0
D
)
n0
0
0
0
0
0
0
0
-13
19
3
-196
Insurance
3,883
Services
Other
industries
-656
-444
-855
652
0
0
0
0
0
2,237
0
1
-1,028
19
13
0
-10
142
3,027
0
349
1,204
56
0
-714
-1,075
921
Real
estate
0
0
n
49
-12
0
582
-281
152
1
-191
-8
£
n
0
-21
-392
0
I
0
D
0
0
0
24
1
()
n
p
0
0
8
-746
1
298
0
0
-1
J)
II
0
-1
0
D0
)
2,105
644
0
D
)
D
)
D
)
13
0
0
(D)
0
(D)
0
0
0
?
276
276
2,292
344
s
a
0
0
0
0
0
0
0
D0
()
(D)
(104D)
n
0
fl
fl0
0
( )
0
0
0
0
0
0
0
1,000
6
-1,791
(D)
31
0
-29
48
-14
Banking
100
-11
-34
-10
0
-1
0
11
161
-3
n
-128
-20
-5
1,054
-188
1 2
~o
0
D\
i
3
164
D
140
D
D)
3
963
-18
-3
0
-1
-714
a
"n 8 S
a
0
0
1,402
-154
1,258
6
I
0 -
0
)
Retail
trade
281
16
( )
-1,248
)
-3
D
)
Wholesale
trade
284
n
D
923
70
10
930,
0
-5
0
119
)
-6
-1
Other
manufacturing
8 a a
-45
)
Machinery
16
(D)
H
D
-209
1
2
24
D
)
282
152
2,C 60
-1
'3
D
-91
(D)
134
-342
D
)
74
0
3
-1,3 97
-528
15
n
-81
-672
-168
n
23
-258
-1
-1
-77
3
3
-266
0
6 19
D
)
69
)
-2
2
0
0
-127
-77
-50
)
D
-1,689
-168
-200
D
1
0
Norway
Spain
Sweden
Switzerland ..
United Kingdom
Other . . . .
Primary
and
fabricated
metals
78
-9
D
Chemicals
and
allied:
products
-218
,
Other Western Hemisphere
Bahamas
Bermuda
Netherlands Antilles
UK Islands Caribbean
Other
Food
and
kindred
products
0
-110
98
129
-12
-145
n
0
0
n
-352
2
2,584
0
-9
-2,747
-109
n0
(D)
n
52
fi
-9
0
0
-2
-3
fl
-149
-2,752
4
10
h
n
0
0
0
1
0
1
0
0
0
0
0
0
0
0
0
0
125
0
125
0
0
0
0
-10
-1,283
30
6
-1,332
n
3
0
-10
0
0
2,633
0
0
15
0
-2
0
507
125
n0
I
(
0
l?
0
-3
-14
-26
4
"^o
11
P
8
14
-1
12
n
$
26
14
n0
0
0
14
0
a
47
-70
23
83
0
3
-66
-135
0
-1
0
2,445
1
1
-988
15
1O8 • August 1992
SURVEY OF CURRENT BUSINESS
Table 15.1.—Foreign Direct investment in the United States: Income, 1989
[Millions of dollars]
Manufacturing
All industries
Petroleum
Total
Food
and
kindred
products
Chemicals
and
allied
products
Primary
and
fab-
ricated
metals
Machinery
All countries
7,491
2,862
5,496
1,359
2,872
728
.
-655
109
357
4
11
163
8,485
-66
317
-5
-18
209
2,565
0
5,438
3
43
-12
-9
138
1,323
0
10
3
(D)
12
2,780
1
517
3
-3
0
10
86
-203
222
80
-20
4
1
1,094
(D)
443
-1
17
0
-310
444
(D)
0
5
1
(D)
80
-2
34
1,501
4
9
-9
250
601
3,044
-1
-2
1
0
(D)
661
1
83
469
1,131
0
(D)
0
18
(D)
335
0
1
0
100
15
241
(D)
(D)
-15
107
(D)
-12
-4
0
0
-4
0
0
-8
0
0
-6
-1
fl0
-11
0
-1
115
0
9
(DD)
Canada
..
Europe
Austria
Belgium
Denmark
Finland
France
Germany, Federal Republic of
Ireland
Italy
Liechtenstein
Luxembourg
Netherlands
-12
-81
2,027
Norway
Spain
Sweden
Switzerland
United Kingdom
Other
-13
29
201
946
4,726
-11
Latin America and Other Western Hemisphere
South and Central America
Brazil
Mexico
Panama
Venezuela
Other
Other Western Hemisphere
Bahamas
Bermuda
Netherlands Antilles
U.K. Islands, Caribbean
Other
305
125
-171
-284
28
63
-149
26
79
11
n
n
-10
D
()
3
-22
n
748
3
D
3
0
fl0
( )
-4
-25
-120
-1
(D)
81
(D)
328
(D)
(D)
290
40
6
Africa
South Africa
Other ..
-34
-3
-31
0
0
0
22
0
22
Middle East
Israel ..
Kuwait
Lebanon
Saudi Arabia
United Arab Emirates
Other ..
19
37
-42
-4
38
-22
11
Asia and Pacific
Australia
Hong Kong
Japan .
Korea, Republic of
Malaysia
New Zealand
Philippines
Singapore
Taiwan
Other
Addenda:
European Communities (12)
OPEC1
-312
24
-146
-143
-129
-6
3
-3
-1
(D
^
(D
^
(D0)
0
(D)
56
90
0
-34
0
0
0
0
0
0
0
7,467
50
2,554
146
160
-254
-15
670
-149
(D)
-66
-1
25
11
(D)
(D)
-1
n
n
-518
(D)
-8
-508
2
n
-14
-1
20
6
(D)
4,581
(D)
D
( )
H
129
3
8
n
440
n0
n
n
115
0
-9
0
0
0
n0
n
23
0
23
0
0
0
0
0
0
0
-1
0
0
0
46
17
-48
-6
0
-58
0
0
-1
0
0
3n
S
n0
(D)
-2
0
1
1,160
0
( )
0
n
79
-1
-9
-2
-19
-27
-1
-32
n0
-158
n
-13
-4
<i( )
(n
i
Wholesale
trade
149
( )
1,019
1
( )
-11
1
-62
374
3
-15
6
(D)
4
15
(D)
(D)
25
(D)
-2
3
(D)
289
83
(D)
-32
1
-47
80
-3
-9
49
15
677
-2
-5
6
45
174
106
193
-22
-1
0
0
D
123
57
%3
0
0
0
0
fl
2,213
-2
521
(D)
0
0
n0
(D)
3
^487
31
2
-152
-110
n0
0
D0
( 0)
-2
-299
n
-460
<2
D
( )
0
0
fl
987
n
1
n
-10
5
-5
100
0
(D)
0
0
181
-57
8
-23
8
-5
-51
(D)
9
0
-3
116
-5
20
8
-1
-1
0
(D)
-54
-51
-3
3
-4
109
(D)
n
21
-2
26
38
(D)
(D)
n
-23
0
0
-81
-5
-18
125
n
(D0)
-49
-59
-19
(D)
(
*u
n
-1
n0
n0
0
n
34
R
4
20
0
0
0
0
0
0
0
175
-1
-3
0
-183
-1
n
n
-2
62
-122
(D)
(D)
11
11
0
n
10
«i
-1
0
-1
32
32
(D)
0
316
590
-106
24
643
35
R
6
11
13
-101
-18
net of withholding taxes and without a current-cost adjustment.
( )
0
1
1
-20
<D
n0^
n
9
15
0
0
-7
0
n
58
-262
(
1
0
(D
-1
^
-33
0
-28
-5
1
-1
-366
212
-677
-15
0
-2
6
-3
n
7
4
-4
-6
n
-162
{
1
l
52
-47
1
-171
n
-1n
(D0
-340
4
-64
-209
J3
17
fl
-1
n
-26
-2
-4
20
-4
0
-10
7
108
-1
-113
-24
0
(D)
-3
-22
260
100
-151
^
-147
-3
3
R
-110
-8
8
(D)
-S
-132
-10
-5
-34
(D)
0
0
0
-22
0
-22
-8
0
-8
-2
-3
0
0
0
-4
-76
0
(D)
0
-25
-9
(D)
0
(1
0
0
0
33
5
n
23
T
(°)
0
0
4
(-4)
<3
0
0
1
(D)
556
-1
-134
-24
33
-2
Other
industries
Services
-64
-6
1
354
D0
-3
-24
-19
-26
(D)
n
n
(24D)
n
0
n
-34
267
0
-115
-9
-270
-3
fl
-86
78
-67
-4
1
0
1
1
0
n
1
n
<2
107
-139
7
10
9
-12
n0
n0
0
0
535
0
(*)
0
-145
D
(*)
n
( )
-22
41
(D0)
1
0
5
n
19
D
-104
-23
0
-140
734
61
(D)
0
0
0
l
0
1
31
28
0
0
0
(0
51
0
_o
Real
estate
87
-229
0
0
0
*u
n
n
Insurance
459
9
0
2
-1
0
(
D
n
0
()
-1,803
448
100
D
Finance,
except
banking
Banking
Retail
trade
826
215
-3
-13
174
51
6
0
* Less than $500,000 (±).
Suppressed to avoid disclosure of data of individual companies.
1. See footnote 1, table 10.1.
NOTE.—In this table, unlike in the international transactions accounts, as revised in June 1992, income is shown
D
D
-289
Other
manufacturing
n
21
-4
-16
n
-3
250
n
-6
257
1
.9
0
12
0
fln
-257
-65
-3
-184
_o
0
n0
n
fl-2
-7
27
(D)
-26
-1
0
n
fl
11
1
0
'(*)
-74
4
-197
-79
111
-14
August 1992 •
SURVEY OF CURRENT BUSINESS
1O9
Table 15.2.—Foreign Direct Investment in the United States: Income, 1990
[Millions of dollars]
Manufacturing
All industries
All countries
1,564
-395
Europe
Austria
Belgium
Denmark
Finland . .
France
4,156
-136
163
-47
.
Germany1
Ireland
Italy
Liechtenstein
Luxembourg
Netherlands
-126
179
5,788
-37
Latin America and Other Western Hemisphere
-246
South and Central America
Brazil
Mexico
Panama
Venezuela
Other
375
31
20
173
108
43
Other Western Hemisphere
Bahamas
Bermuda
Netherlands Antilles
U K. Islands, Caribbean
Other
4,353
747
-2,186
-3
58
77
81
1,282
0
(D)
2
(D)
74
4,232
625
4
(D)
0
(D)
98
-1,646
-2
-16
-3
-46
-635
-458
-631
-8
3
-8
370
-1
-5
0
0
407
37
0
4
1
-239
-361
180
-638
3,046
0
(D)
n
3,a58
2
32
13
26
-7 37
-1
84
2,100
5
15
18
31
2 51
4,0 42
-6
-3
1
0
123
597
-3
59
599
2,563
0
3
0
32
4
273
0
(D)
3 23
-34
124
-69
-1
-4
14
19
-1
-1
-4
0
0
-4
0
0
3 24
n0
1
D
( )
-5
0
(D)
(D)
0
n
0
1
3 02
13
(D)
Africa
South Africa
Other
-55
-3
-52
0
0
0
(D)
0
(D)
n0
n
Middle East
Israel
Kuwait
Lebanon
Saudi Arabia
United Arab Emirates
Other
-41
-9
39
-9
-18
-28
-16
Asia and Pacific
Australia
Hong Kong
Japan
Korea Republic o f
Malaysia
-1,855
.
.
.
New Zealand
Philiooines
Sinaaoore
Taiwan
Other
Addenda:
European Communities (12)
OPEC2
*D Less than $500,000 (±).
Suppressed to avoid disclosure of data of individual companies.
1. See footnote 1,table 10.2.
D
( )
-22
(D)
-251
(D0)
(D0)
(D
^
0
-122
-7
1
-5
8
-3
-20
4,394
98
2,960
149
-12
-1,234
.
-113
-95
-6
-22
0
0
0
0
0
0
0
-466
:
-116
-6
131
501
(D)
0
-12
665
3
-243
-484
:
a
-2 00
21
46
2
12
5 78
39
90
-23
-787
1,186
-30
0
-1
13
-42
0
-621
ricated
metals
Other
manufacturing
4,35
55
-1
21
22
„
fab-
Machinery
3,3 12
-228
-65
-4
102
Primary
and
26
-4
(D)
-77
Total
Food
and
kindred
products
2,955
-108
-935
-355
Norway
Spain
Sweden
Switzerland
United Kingdom
Other
Petroleum
Chemicals
and
allied
products
3
D
)
(
•i;)
*)
-1,3,34
70
•4
-1,3 56
13
11-1
0
0
0
0
0
0
0
-60
-1
(D)
-45
n
n0
o
D
( )
0
s
-1
D
( 0)
n
\
D
( )
0
n
h(°)
5
-30
(*)
0
n0
fl
283
(n
(D)
1
-1
0
-1
-91
(D
-89
0
0
-7
0
^
()
114
109
3
7
-3
0
0
0
-2
-21
-60
70
0
-3
0
-4
n
-42
(D)
19
-43
(D)
0
0
0
n
n
-23
355
fl
fl
n0
n
n0
0
-581
(D)
(D)
-536
-4
0
4
1,159
0
3,562
-1
604
(D)
-1,287
n
27
(D)
0
0
n0
-716
14
1
-702
-5
0
-3
0
0
i
-20
-419
-1
-2
86
2
n
-65
-32
8
5
-41
-1
-2
0
0
0
0
-1,872
-12
-1
-14
3
0
0
(D
6D
0
0
0
-236
-25
-3
30
0
30
0
-11
10
-5
-15
-74
n
-3
-13
0
'l
96
343
102
0
0
-1,463
-648
^41
-345
-16
(D)
-1,010
-48
1
13
-14
88
127
-2
8
i
(
-306
(D)
-21
-36
120
507
-3
-3
0
37
g
3,6 20
D
)
23
-7
1
Banking
-2
-62
<1
-1
§
n
-45
-10
-56
Retail
trade
(D)
128
T
(D)
-3
-4
18
-6
22
221
Wholesale
trade
n
-29
n
-29-
-4
-3
r
-1
0
0
140
-13
19
,-14
-131
-2
(D)
-1
-3
(D)
-93
-3
-290
0
4
n
12
-63
0
-135
1
0
1
1
n
136
(D)
13
-89
-165
-96
-34
12
-64
-41
-S
J3
0
(D)
18
-5
42
-107
%
-7
(D)
-27
n6
-1,934.
^60
192
-26
245
577
-591
210
8
fl
0
103
0
(D)
0
0
198
(D)
n
(D)
125
35
44
12
-18
52
38
0
1
37
n
,( )
3
0
63
(D)
-6
-25
0
-17
-5
(D)
-41
-11
-14
0
(D)
0
3
230
-54
35
192
44
-5
5
-2
6
6
3
-1,771
-41
0
-S0
Other
industries
-716
101
-126
Services
327
128
(D)
(D)
2
0
0
0
2
(D)
(D)
0
10
-43
1,118
-4
-4
0
-4
-222
-961
Real
estate
-25
(D)
0
(D)
0
0
0
0
0
-86
-192
-569
fi
n
(DD)
()
n
-3
n0
-841
Insurance
-4
165
88
0
(D)
-111
Finance,
except
banking
3
0
(DD)
n
-1
n
9
1
-9
-13
136
(D)
-20
5
1
21
11
4
-54
-5
2
-48
-7
0
-19
-2
(D)
-22
4
-5
0
-70
(D)
283
-1
5
0
-110
-6
-1
-53
-2
-50
-4
-1
-6
-59
-280
-4
-538
{
'l
39
252
1
-112
-66
n
-7
0
-7
-53
-2
-5
«J0
-472
D
( )
-38
-387
-30
(D)
-105
-121
-2
-1
-2
-3
4
n
-118
-8
9
n
(°)
(D)
-13
-67
-22
(D)
1
0
0
0
-32
0
-32
-14
0
-14
-6
-3
-3
18
17
1
0
0
0
0
0
0
0
0
16
-1
54
-9
-20
-1
-7
-11
0
-42
(D)
-3
0
-1
D
( )
-2
n
n0
n
87
-174
1
268
(D)
0
-1
0
-7
D
( )
0
-428
1
D
(D)
( 0)
28
n0
'']
0
1
412
1
-73
-37
-27
42
n
8
-8
-5
(D)
-465
(D)
{
°l
fl
n
-506
-181
-fl
(D)
0
n0
1
n
164
-14
-20
25
(D)
-61
-2
0
(D)
n
fl
D
218
-24
2. See footnote 1,table 10.1.
NOTE—In this table, unlike in the international transactions accounts, as revised in June 1992, income is shown
net of withholding taxes and without a current-cost adjustment.
SURVEY OF CURRENT BUSINESS
HO • August 1992
Table 15.3.-Foreign Direct Investment in the United States: Income, 1991
[Millions of dollars]
Manufacturing
All industries
All countries
Canada
Europe
Austria
Belgium
Denmark
Finland
France . .
Germany l
Ireland
Italy
.
Liechtenstein
Luxembourg
Netherlands
.
.
.
Norway
Spain
Sweden
Switzerland
United Kingdom
Other
Latin America and Other Western Hemisphere
South and Central America
Brazil
Mexico
Panama . . .
.
Venezuela
Other
.
Other Western Hemisphere
Bahamas
Bermuda
Netherlands Antilles
UK Islands Caribbean
Other
Africa
South Africa
Other
.
Middle East
Israel
Kuwait
Lebanon
Saudi Arabia
United Arab Emirates
Other
Asia and Pacific
Australia
Mono Konq
..
Japan
Korea Republic of
Malaysia
New Zealand
Philippines
:Sinaaoore
i .y p
Taiwan
Other
Addenda:
European Communities (12)
OPEC2
.
* Less than $500,000 (±).
Suppressed to avoid disclosure of data of individual companies.
1. See footnote Liable 10.2.
D
Total
Food
and
kindred
products
Primary
and
fabricated
metals
Machinery
Other
manufacturing
Wholesale
trade
Retail
trade
Banking
Finance,
except
banking
Real
estate
Insurance
Other
industries
Services
-2,907
1,170
917
1,100
2,746
388
-1,950
-1,367
-501
-1,435
-294
-402
387
-1,812
-393
-1,841
-180
-40
14
-57
-74
55
22
-95
-685
201
115
-661
-626
96
34
1,375
-173
317
-42
-131
-590
914
0
1,155
0
(D)
527
3
-3
0
13
35
-1,164
-8
-5
-8
-38
-368
-201
-5
-7
-33
4
-107
-538
-4
110
2
(D)
-1,235
-157
(D)
-25
13
42
806
-528
-5
0
(D)
-190
D0
30
217
0
( )
65
2,700
0
61
-2
(D)
303
-409
_-i
-24
2,472
-5
64
-18
-120
-373
-1
-4
1
51
-124
-1
-28
14
1
-36
-924
-167
-253
-59
-111
423
29
-2
2
-1
-2
12
-427
-20
-211
-3
16
825
n
259
-263
-6
-33
-331
(D)
-204
89
1
61
-158
0
0
389
-2
-5
184
J3
(D)
-33
-160
0
(D)
0
0
413
-81
(D)
-1
-41
-15
-132
24
&
-91
0
(D)
36
0
0
-81
615
-1
12
4
79
438
1,364
0
J
330
-97
-5
10
9
14
29
388
0
-3
(D)
-28
-57
-142
-4
6
3
264
1
-111
(D:
^151
-158
-224
-60
-6
0
-6
-1
-6
-1
-2
-6
3
-219
-19
-15
-87
-95
-2
S
( )
b
D
21
(D)
R
-24
26
-428
213
3,355
-57
33
622
4
19
-20
-52
-7
2,807
-3
-155
(D)
333
-2
127
356
43
58
224
9
21
54
-3
0
(D)
(D)
0
-6
-4
-1
-2
-1
-1
(D)
0
-511
70
-63
-7
-496
5
(D)
340
4
-3
370
-31
-14
S
n
(
'li
0
0
n0
R
n
-13
0
0
0
0
-11
0
-11
1
0
1
-68
-75
22
-9
46
-27
-25
3
-4
-3
0
0
0
0
0
0
0
-2,080
-329
-52
-1,484
-130
-3
-14
-9
-21
-16
-23
111
133
0
-23
0
0
0
0
0
0
0
1,984
57
918
75
-137
-4
-133
.
Petroleum
Chemicals
and
allied
products
3( )
D
0
0
fl
fl
-1,833
-122
-4
-1,636
-20
n
-68
8n
(D0)
(D)
( 0)
0
-13
(
"
-51
1
r!
-24
0
0
0
0
-4
-1
4
-22
-30
8
R
3
3n
2,642
-2
1,232
0
2,204
-1
0
-5
0
(D)
-138
3
-7
3
-3
(D)
-163
(
-4
-18
444
0
-2
0
-54
-236
-89
0
9
-26
-72
-109
473
-2
-1
(D)
-214
133
122
-7
n
-231
-264
0
-17
27
15
-19
-512
-42
-149
-31
387
-55
-119
154
-29
-4
-1
-33
1
1
-20
34
0
1
33
(D)
166
51
69
8
-3
40
-13
0
1
(D)
-145
92
'l
n
(D)
(D|
(D0)
D
"l
0
JS
n
-1
-48
fl
(
D0
fl
-9
-68
-408
121
fln
(D
^ 3( )
(D
^
0
-745
0
0
0
D0
()
85
-14
2
112
(D)
0
n0
0
fl
533
0
?
'«•',
n
n
-3
0
0
R
-2
391
1
(D)
-22
3
19
-43
-3
2
n
1
0
-3
0
R0
0
0
0
0
0
0
-55
-3
-3
0
-1
-14
-14
8
0
-1
0
0
0
0
<J
-808
-23
-8
-745
-2
0
-1
0
-9
-14
-5
-1,030
-56
1
-928
(D)
0
-3
0
0
(D)
(D)
-826
-501
-1
n
n
-55
n
n
0
0
0
-3
i
4
(D)
0
-22
-30
-67
(D)
<J
n
-$
3
10
<D^
n0
n
-101
-54
2
0
R
n
n
Q
-220
(D)
n0
n
<2
()
n
27
15
141
(D)
0
-2
0
7
1
0
-109
-2
-304
-5
-1,076
-23
-524
1
-1
(°)
<26
i
-1
'1
n
-6
-47
-3
-4
8
S
-36
0
-25
-3
4
-110
(D
<<•!
D
n
n
]
( )
0
-33
n
168
-2
n
-15
0
-391
(D)
-151
D
9
-24
-255
-85
(D)
-181
15
(D)
0
0
0
-36
0
-36
(D)
0
(D)
(D)
0
0
0
0
0
0
0
39
-1
64
-9
-8
-1
-6
(D)
0
-48
(D)
(D)
0
-1
(D)
-3
(D)
r!
33
n0
-210
-38
-30
-79
(D)
-516
-39
-34
-423
-5
-171
3
-3
31
D
687
-103
19
676
54
-1
_•!
(D
0
-16
4
77
-142
-3
-5
(D/
-1
0
()
-1
1
(52)
10
D
-87
-2
-4
-80
-2
0
0
0
0
0
0
-S1
a
-543
(
8
n
1
-9
-1
-39
-2
(D)
707
-1
-396
51
n0
0
(n)
-1
0
fln
(D)
<°>
3
n
n0
(D)
206
-9
-80
-29
0
2. See footnote Liable 10.1.
NOTE.—In this table, unlike in the international transactions accounts, as revised in June 1992, income is shown
net of withholding taxes and without a current-cost adjustment.
SURVEY OF CURRENT BUSINESS
111
August 1992
Table 16.—Foreign Direct Investment in the United States: Country Detail for Selected Items
[Millions of dollars]
Direct investment position on a historical-cost basis
Income
Capital inflows (outflows (-))
1987
1987
1988
1989
1990
1991
263,394
314,754
368,924
396,702
407,577
59,581
58,571
69,010
46,108
12,619
8,659
12,774
7,4 31
1,564
-2,907
24,684
26,566
30,370
30,037
30,002
4,336
1,852
1,793
1,414
-1,324
778
589
-a55
-395
-1,841
181,006
245
3,371
498
295
10,137
208,942
392
3,471
588
452
13,233
239,190
386
3,799
656
1,297
15,365
250,973
623
3,866
819
1,513
18,665
258,127
472
3,653
1,219
1,547
22,740
46,303
66
351
19
70
3,155
31,852
30
460
84
123
3,122
43,046
290
467
47
998
2,744
21,439
226
81
165
401
5,726
8,212
7,720
-8
384
-4
-7
137
10,604
-41
302
-7
-11
345
8,4 35
36
3 7
-5
8
2()9
4,156
1,375
^136
-173
Germany1
Ireland
Italy
Liechtenstein
Luxembourg
Netherlands
21,905
544
1,310
190
590
46,636
25,250
725
752
181
28,309
1,208
1,869
181
2,118
63,938
28,171
1,292
2,859
98
974
63,848
4,591
100
-21
17
-11
8,413
2,245
295
3,738
1,008
850
-13
509
7,323
726
1,258
96
-5
90
-84
-11
6
1,906
414
143
15
-22
-1
2,464
-rn
-2
-i31
48,128
28,386
1,416
1,436
177
407
56,734
2,0, 27
Norway
Spain
..
Sweden
Switzerland
United Kingdom
Other
352
442
4,910
13,772
75,519
288
220
511
4,713
14,372
95,698
388
576
601
5,435
18,746
103,458
316
773
790
5,467
17,745
102,790
299
556
1,161
5,597
17,594
106,064
282
-35
76
746
3,083
25,627
56
-126
385
145
24
4,210
-9
-17
13
178
922
4,208
14
4
47
255
1,092
5,591
16
3
29
2()1
9<16
4,72 26
1
224
1
1
330
1
1
D
( )
99
(D)
268
242
212
s
-33
0
13
0
15
0
8
'!0
18
41
51
7
17
33
51
-2
1
(D)
15
(D)
0
-1
11
12
58
48
fl27
9
28
()
0
(D)
10,103
3,935
293
180
2,627
411
425
305
0
0
29
59
1
10
All countries
Canada
Europe
Austria
Belgium
Denmark
Finland
France
.
Western Europe, nee
Andorra
Cyprus
Gibraltar
Greece
Iceland
Malta
Portugal
Turkey
.
Yuooslavia
fl
fl16
15
47
Eastern Europe
Bulgaria
Hungary
Poland
Romania
Union of Soviet Socialist Republics
64
0
BD0
Latin America and Other Western Hemisphere
South and Central America
Brazil .
Mexico
Panama
Venezuela
Other .
Argentina
Belize
Bolivia
Chile
Colombia
Costa Rica
Ecuador
El Salvador
Guatemala
Guyana
Honduras
Nicaragua
Peru
Suriname
Uruguay
0
0
11
(*)
6
0
5
Other Western Hemisphere
Bahamas
Bermuda
Netherlands Antilles
United Kingdom Islands, Caribbean
Other .
Aruba
Barbados
Dominican Republic
French Islands, Caribbean
Grenada
Haiti
Jamaica
St Kitts and Nevis
Trinidad and Tobago
Africa
South Africa
Other
Saharan
Eavot
Tp/r
Morocco
Sub-Saharan
Cameroon
Gabon
Ghana
Guinea
Guinea-Bissau
Ivory Coast
Kenya
Liberia
Madagascar
Malawi
Nigeria
Sudan
Swaziland
Tanzania
Uganda
U K Islands Atlantic (Africa)
Zaire
6,168
179
1,087
8,062
-3,335
175
0
32
n
fl
fl
0
-1
..
521
(D)
(D)
22
(D)
(D)
(D)
0
0
3
1
0
2
-4
212
8
<2
<°>
-131
n
96
(D)
94
(D)
1
-19
20
44
1987
Q48
(D)
-21
20
45
1989
1988
-683
-4
-318
6,137
1990
63
-95
831
19,617
71
364
90
587
5,184
18,939
-78
77
0
-1
(D)
9
-68
0
(D)
D
( )
1
1
-6
5
n
-12
-28
-20
1991
-210
424
6
1,792
6,397
288
187
588
-560
5,226
-22
-31
0
(D)
D
( )
-2
(D)
-2
-26
_H
11
70
0
-3
44
<°>
0
13
57
0
(D)
28
0
(D)
8
0
(D)
0
(D)
1
0
(D)
11,243
16,218
19,616
17,673
-2,374
2,944
4,069
4,940
4,331
286
218
2,878
540
409
291
0
-1
34
68
1
7
5,819
428
350
3,392
1,163
486
370
-1
0
40
53
1
5
6,020
378
550
4,099
489
503
420
(D)
-2
5
54
-2
7
6,466
488
608
4,367
544
458
368
0
531
70
22
400
-1
41
29
0
0
14
4
-1
-3
368
,-8
38
220
124
-7
-14
0
-1
5
17
1,095
145
107
148
616
79
79
-1
1
9
-16
915
-45
199
817
-70
16
49
n
0
11
<2
-2
-4
6,911
(D)
1,067
8,935
-3,867
(D72
^0
1?
S3
[
l0
10
10,399
-52
1,012
8,733
-215
922
0
51
0
n
0
8
1
9
13,596
1,508
1,517
12,584
-2,935
923
0
166
0
( )
( )
2
n
24
45
2
'4
-1
-8
0
6
0
12
(•)
11,208
1,195
1,323
7,948
-466
1,208
(D)
93
0
fl
<£]
n
1
441
37
404
17
(D)
505
26
480
3
-8
11
476
512
10
502
8
1
7
494
309
-10
319
-8
-9
1
328
-1
-2
0
1
0
0
\
0
0
2
fl'
fl
<i1
0
2
0
430
0
-1
-1
(D)
(
i
(-1°)
n0
0
1
0
0
n
439
0
-1
-17
(D)
1
0
2
-1
(D)
0
1
n
-1
-2
0
1
0
2
-2
343
0
n
n
n
£
-1
5
0
n
253
0
0
6
0
1
0
2
8
0
-2,905
-14
15
691
-3,763
166
0
11
0
-6
-9
5
n
-2
n
-10
n
-1
-2
-8
2,576
(D)
22
1,967
144
n
-2
n
-4
n
n
n
0
(D)
%
-35
n
-3
(
2
l
11
fl0
55
-11
66
-12
-3
(D)
78
-15
14
5
9
-4
9
n
35
6
1
-5
<]
169
-8
n2
0
0
0
n
2
76
0
'!
<<•0!
fl
(*)
& fl 1
q
0
1
0
-1
2
0
B
R
-480
(D)
-1
B
0
0
0
n
n
0
n
()
n
17
D
8
fl
n
-163
238
106
59
88
31
-45
-52
(D
]
20
-10
5
-2
3
0
-2
fl0
(D)
0
-41
(D)
(D)
R
24
0
fl0
49
(D)
2
fl0
(D0)
n
-2
n
fl0
-1
0
0
2
0
-1
-3
0
-107
1
D
3
-46
(D)
20
-3,073
2,342
319
(D)
-39
0
M
-126
63
(D)
(D)
152
-1
-2
-3
0
0
-220
.4,025
1,563
722
4,073
-2,315
-18
0
95
0
1
R
$( )
-83
—986
29
2,974
(D)
0
1
0
-443
-1
3,201
(D)
0
0
(D)
(R
396
46
3,704
13
n0
fl fl
fl
8
-157
-184
1988
3
-718
-325
n
-259
-81
178
-12
-6
-6
-166
-1
-2
0
0
0
0
n
-186
0
1
23
fl0
n
169
25
-15
102
54
3
11
0
0
2
-9
n
n
<2
n
0
0
n
-332
8
45
-206
-178
1989
3 )5
1,25
163
-47
-131
-590
-228
-924
-167
-253
-77
-355
-65
-4
102
21
22
-428
-38
0
-56
0
8
-5
0
3
-1
2
1
0
')
1
-3
2
0
0
-2
*)
<2
(D)
1
0
1
0
-1
1
0
1
*)
0
-1
1
0
1
1
0
(')
449
-21M
509
44
35
279
121
30
26
0
0
3
1
28
53
-1<19
26
?Q
1
6
0
0
4
-2
n9
0
(n
]
'
i
n
i
-1
n3
n
0
1
-61
(D)
69
117
(D
-10
0
^
0
1
-3 12
24
-146
-143
-129
31
0
(D)
0
n
n
-34
-5
2
0
1
-246
(D 0
^
1
-3
n
n
0
2
fl0
1
-621
90
-23
-243
-484
39
0
{
n
27
-2
29
-2
39
1
38
-5
-3
-3
43
0
0
0
0
0
34
-3
31
-6
-4
-2
26
0
0
0
0
0
-55
-3
-52
-7
_•]
-6
^5
0
0
0
0
0
0
41
0
0
2
0
0
29
0
0
3
0
«2
8
3
I
0
0
0
0
0
n
0
31
0
0
<2
1
n
fl fl
(n
i
(D)
o
n
n
(
])
D
0
n
n
3
-1
-1
0
-2
1
0
1
-155
375
31
20
173
108
43
n
331
423
-24
26
213
3,355
-57
0
0
-59
-111
-126
°l
n
n0
(°)0
n
8
<32
317
-42
-108
-935
179
5,788
-37
-299
-1
0
-3
1991
1990
<3
-41
0
0
-3
0
(*)
0
n
8
356
43
58
224
9
21
28
0
'!
-8
n
3
0
-1
•30
1
-511
70
-83
-7
-496
5
(
i
8
0
(D)
0
n
-137
-4
-133
-8
-1
-7
-125
0
0
0
0
0
0
0
-126
0
0
2
0
n0
8n
112 • August 1992
SURVEY OF CURRENT BUSINESS
Table 16.—Foreign Direct Investment in the United States: Country Detail for Selected Items—Continued
[Millions of dollars]
Direct investment position on a historical-cost basis
1987
Zimbabwe
Middle East
Israel ...
Kuwait .
Lebanon
Saudi Arabia
United Arab Emirates
Other ...
Bahrain
Iran .
Iraq-Saudi Arabia Neutral Zone
Jordan
Oman
Qatar
Asia and Pacific
Australia
Hong Kong
Japan .
Korea, Republic of
Malaysia
New Zealand
Philippines
Singapore
Taiwan
Other ..
Afghanistan
Bangladesh
Bhutan
Brunei
Cambodia
China
India
Indonesia
Macau
Nauru
Pakistan
Papua New Guinea
Sri Lanka
Thailand
United Kingdom Islands, Indian Ocean
United Kingdom Islands, Pacific
Vanuatu
Addenda:
European Communities (12)
1989
1988
1990
(D)
0
0
4,973
6,570
7,588
Capital inflows (outflows (-))
1987
1991
n
(D)
(D)
0
302
1,378
-14
347
-1
-25
-11
6
18
-56
-99
-2
67
-41
10
0
900
15
257
-2
611
2
19
14
(D)
-1
5
3
-1
D
( )
632
587
630
626
3,898
3,954
4,280
1,831
-7
-9
-18
-27
1,826
2,455
1,803
1,588
43
142
43
2
0
84
9
3
111
100
53
2
112
119
67
97
85
45
97
55
40
0
31
8
(D)
0
22
6
(D)
0
-2
4
(D)
42,108
5,369
60,992
7,171
895
34,421
51,126
96,668
6,626
1,272
86,658
198
7
263
73
391
199
246
505
42
154
73
510
329
186
(D)
0
J)
91,141
6,539
1,199
81,775
-1,000
10,965
1,457
941
75,053
4,962
1,124
67,268
-542
-136
56
138
74
85
131
50
914
0
0
(D)
n
n
28
9
8
n
-3
-307
29
166
82
934
476
318
(D)
0
J)
-1
87
26
39
0
31
19
0
1,147
824
389
(D)
0
fl-2
o
78
o
0
o
72
0
5
-2
100
5
1
118
30
26
0
35
19
0
-1
147
0
5
2
161,061
4,658
188,342
6,487
212,361
8,067
224,447
4,246
58
23
35
1
27
15
0
21
41
0
30
14
-2
o
o
1,115
360
(D)
1
-1
0
-3
117
15
27
0
38
21
0
_•<
124
1
5
232 007
4,275
* Less than $500,000 (±).
D
Suppressed to avoid disclosure of data of individual companies.
1. For 1987-89, this line includes only the Federal Republic of Germany. For 1990-91, it also includes the former
German Democratic Republic (GDR). This change has no effect on the data because, prior to 1990, there were
1990
1989
0
4,798
1,085
2,000
n
257
4,423
1988
n0
-12
n
-1
456
8,806
-27
102
-1
139
71
99
(D)
0
0
-2
54
5
-5
0
3
0
0
o
47
0
0
0
42313
296
1,508
n
-55
20,587
2,741
88
17,205
353
52
-70
5
119
131
-38
0
J)
n
0
19,147
-81
388
0
-615
-9
74
-9
-621
-15
-34
-22
0
-9
-2
(D)
18,930
1,366
188
18,653
17,355
-821
-688
n
-47
6
471
421
158
(D)
0
0
-61
-2
26
0
4
-1
-2
0
-6
0
5
(*)
-1
98
5
17
0
1
4
2
(*)
28
0
0
3
31,032
1,629
35699
1,503
Income
19
45
-5
228
346
77
n0
fl-1
31
3
-13
0
4
n
-10
53
0
0
1
20484
-662
1988
1987
1991
n
484
451
287
-9
-215
0
-30
-4
n0
-24
-2
n
5,987
186
199
5,183
389
31
-5
-28
-233
292
-27
(D)
1
fl-1
-310
-133
12
-89
-1
-24
(D)
(D)
(D)
0
n
()
n
430
-81
-50
612
-49
-2
-18
-2
3
43
-26
38
-248
-2
-28
-18
-52
-1
(*)
0
(D)
/D\
1
1,404
75
-39
1,355
n0
-2
-2
-8
1
9
33
-18
1
0
0
0
0
0
1991
1990
1989
0
0
0
0
0
19
37
-42
-4
38
-22
11
3
-68
-75
22
-9
46
-27
-25
0
7
-1
1
-41
-9
39
-9
-18
-28
-16
-10
(*)
0
-5
-2
1
160
-1,855
-2,080
0
-254
-149
D
-24
-2
1
-329
-466
-15
670
n
n0
-12
-52
-1,234
-1,484
-116
-130
-7
1
-5
8
-3
-20
-3
-14
-9
-21
-16
-23
0
0
-1
-1
-1
-60
0
-7
0
1
8
0
-23
-7
1
0
4
8
0
0
-1
-30
-13
5
0
3
7
0
0
7
0
0
(*)
( )
-66
-1
25
11
(D)
n0
0
0
n0
n0
(*)
0
n
-24
n
-35
-15
1
0
3
2
0
1
-2
2
8
-19
-2
0
0
0
0
3
0
0
0
0
6,662
9,322
7,467
4,394
1,984
50
98
57
0
n
1
o
(D)
8418
123
n
n4
o
3
0
0
1
-2
3
0
-78
o
-164
o
o
0
no U.S. affiliates of the former GDR.
2. See footnote Liable 10.1.
NOTE.—In this table, unlike in the international transactions accounts, as revised in June 1992, income and capital
inflows are shown without a current-cost adjustment, and income is shown net of withholding taxes.
August 1992 • 113
SURVEY OF CURRENT BUSINESS
Table 17—Foreign Direct Investment in the United States: Industry Detail for Selected Items
[Millions of dollars]
Direct investment position on a historical-cost basis
1987
All industries .
Petroleum
263,394
Petroleum and coal products manufacturing
Integrated petroleum refining and extraction
Petroleum refining without extraction
Petroleum and coal products, nee
Other
Oil arid gas extraction
Crude petroleum (no refining) and natural gas ...
Oil and gas field services
Petroleum tanker operations
Pipelines, petroleum and natural gas
Petroleum storage for hire
Petroleum wholesale trade
Gasoline service stations
Manufacturing
Chemicals and allied products
Industrial chemicals and synthetics .
Drugs
Soap, cleaners, and toilet goods
Other
Agricultural chemicals
Chemical products, nee
26,291
14,568
5,638
4,199
1,887
1,221
1,155
,4,159
2,510
571
263
785
15,727
5,099
1,436
3,663
102
31
234
595
1,057
295
380
10,628
5,249
1,260
4,119
1,977
2,142
122,582
16,458
7,961
8,496
86'
879
703
5,307
30,926
17,171
6,502
5,062
2,191
1,457
734
10,873
6,348
1,496
4,853
4,524
1,464
585
407,577
39,955
29,327
27,626
1,421
280
10,628
2,940
2,551
389
150,949
157,431
162,853
23,585
6,627
16,958
187
1,163
284
9,525
827
4,973
22,943
7,237
15,706
156
896
5,525
23,370
7,263
16,107
170
1,160
406
8,500
889
4,983
38,408
23,224
8,957
5,348
878
206
672
45,847
25,059
12,396
6,276
2,117
241
1,876
49,133
27,611
13,125
6,113
2,283
411
1,872
15,110
6,550
2,236
4,314
8,560
2,246
605
15,523
7,351
2,473
4,878
8,171
3,234
567
15,780
7,961
2,245
5,716
7,819
2,718
460
1,113
319
7,697
1990
1989
59,581
8,593
7,952
8,015
58,571
69,010
31,924
418
-1,555
1,973
16
340
38,604
7,757
. 333
7,424
-70
345
1,361
365
137
535
3,279
27,839
12,762
2,981
9,780
27,637
10,450
2,907
7,543
114
334
27,521
11,028
2,675
8,353
147
1,278
298
4,077
1,419
726
693
21
18
242
6,094
4,446
1,045
3,402
25
226
1,412
7,820
3,374
1,712
1,662
96
154
3,076
174
1,295
1,092
899
231
13,179
3,942
521
1,945
1,343
891
689
15,077
1,959
327
1,833
1,420
753
635
16,493
1,883
296
1,795
293
52
79
143
69
17
2,658
1,283
28
753
82
979
26
1,647
5,039
1,808
6,332
5,471
3,236
6,370
2,081
5,431
3,901
7,160
2,301
4,860
963
-360
1,044
46,008
2,873
2,257
45,598
1,978
102
579
205
373
9,041
128
57
71
31
18
13
865
285
580
1,054
317
737
607
130
691
335
1,748
-200
1,947
768
412
356
2,375
1,653
729
-7
1,047
567
592
266
326
1,942
407
1,535
9,567
2,305
7,261
4,241
3,020
2,724
1,279
9,545
1,293
8,252
2,792
2,012
780
4,165
3,116
927
122
7,193
616
605
447
158
1,678
755
924
11,158
2,399
8,759
7,012
1,747
2,871
1,452
9,427
1,595
7,832
4,789
3,736
1,052
5,306
3,233
1,856
218
5,849
7,190
1,560
1,632
1,183
448
497
45
453
3,506
982
2,524
10,927
2,532
1,744
9,708
1,789
7,919
4,219
3,676
543
5,700
3,552
2,112
37
4,506
6,414
(D)
3,280
1,644
9,118
1,771
7,347
4,274
3,703
571
5,934
3,554
2,363
17
6,123
8
8
877
1,023
1,350
2,920
43,725
15,477
2,809
2,549
6,619
4,409
3,553
283
45,456
15,441
3,68,1
3,444
5,986
4,158
4,166
262
50,750
17,504
3,184
4,123
9,189
3,245
5,612
760
52,962
18,398
2,954
4,457
9,353
3,522
5,960
671
761
6,112
1,095
445
61
372
394
520
36
68
371
1,915
1,136
454
273
52
42
10
78
104
94
10
-26
28
14
1991
7,491
1,564
3,312
2,846
1,538
842
322
145
97
48
5,496
1,359
427
931
34
-15
15
560
91
246
2,872
1,513
1,062
242
54
30
24
906
492
176
316
414
273
19
728
485
179
307
243
70
18
917
1,100
373
727
-28
54
23
523
83
71
2,746
893
1,680
273
-100
40
-140
388
-124
-29
-95
512
-37
305
-2,186
-1,253
-1,126
-127
(D)
61
511
-1,950
-1,131
-959
-172
3
80
12,774
2,656
2,849
2,704
107
37
-193
-287
-243
-44
:
T2
5,998
2,155
154
-735
1,862
768
733
6
-15
6,207
448
154
294
-1
29
13
45
20
-2,907
1,170
1,130
914
204
12
40
-319
-250
-69
(D)
109
A
-33
20
-36
-157
-38
-62
24
-8
-42
242
269
7
262
3
-3
135
-289
95
-100
196
462
149
66
269
48
419
4,446
29
-1
13
13
9
11
-119
138
3
32
70
12
5
-27
-63
-9
120
70
34
11
-384
-60
-37
-55
48
-35
(D)
-933
-58
-50
-19
-31
-51
-46
-819
1,404
1,370
1,671
171
-138
-152
119
-271
2,048
96
68
28
21
4
17
161
49
112
127
180
-53
-30
-23
4
110
612
46
566
157
37
121
161
61
104
-5
598
51
-7
-70
79
-150
1,764
42
58
-16
54
28
26
291
86
205
81
84
-4
-111
107
-55
175
547
-4
551
-173
-130
-43
130
60
70
-36
-121
-226
12
-239
-146
.-322
^65
-3
-462
-787
-176
-78
-97
63
39
24
68
13
55
99
413
-314
-339
25
-432
0
-300
-82
-218
-326
-314
-11
-71
19
-44
-46
287
-20
-311
-488
-106
-382
-1,367
-186
-26
-160
-25
-49
23
-40
-7
-33
72
1,572
8
17,351
511
399
111
-65
-203
138
225
18
207
5,511
483
5,027
3,527
1,500
1,869
-112
3,650
781
2,869
768
710
58
1,046
815
165
66
,
4,826
943
498
445
-25
27
8
109
521
13,341
4,711
7,577
873
180
-24
204
3,223
522
513
9
2,701
777
-24
1,157
1,853
1,291
562
771
447
324
2,697
1,077
1,620
11,867
3,116
8,750
16,655
8 8
-9
329
5,749
3,459
1,003
869
419
251
167
2,312
1,156
410
746
1,156
413
364
3,212
r
8
41,874
12,619
-S
242
-43
25,022
3,168
2,539
629
-10
-142
-36
185
105
528
7,042
3,007
750
2,565
719
507
212
1,693
517
175
342
1,177
317
197
1,226
5,114
4,327
7,747
2,295
5,453
46,934
1989
1988
8
4,484
958
1987
-247
-156
-137
-19
642
134
144
-10
962
803
625
17,188
46,108
Income
1991
2,110
2,358
2,293
1,513
22,452
9,273
2,160
7,113
67
278
1,508
Motor vehicles and equipment
Professional and commercial equipment and supplies
Metals and minerals, except petroleum
Electrical goods
Machinery, equipment, and supplies
Other durable goods
Lumber and other construction materials
Capital inflows (outflows (-))
1987
1991
157
6,110
2,075
Wholesale trade
7,824
5,314
28,517
....
396,702
3,101
5
15,506
9,087
6,419
75
629
106
294
632
4,682
Other manufacturing
Textile products and apparel
Textile mill products
Apparel and other textile products
Lumber, wood, furniture, and fixtures
Lumber and wood products
Furniture and fixtures
Paper and allied products
Pulp, paper, and board mills
Other paper and allied products
Printing and publishing
Newspapers
Other
Miscellaneous publishing
Commercial printing services
,
Rubber products
Miscellaneous plastics products
Stone, clay, and glass products
Glass products
Stone, clay, concrete, gypsum, etc
Transportation equipment
Motor vehicles and equipment
Other transportation equipment, nee
Instruments and related products
Measuring, scientific, and optical instruments
Medical instruments and supplies
Photographic equipment and supplies
Other
Tobacco products
Leather and leather products
Miscellaneous manufacturing industries
368,924
5,865
2,150
1,888
262
(D)
213
(D)
Food and kindred products
Beverages
Other
Meat products
Dairy products
Preserved fruits and vegetables ..,
Grain mill products
Bakery products
Other food and kindred products .
Machinery
Machinery, except electrical
Computer and office equipment
Other
Engines and turbines
Farm and garden machinery
Construction, mining, & materials handling
machinery
Metalworking machinery
Special industry machinery
General industrial machinery
Refrigeration and service industry machinery ..
Industrial and commercial machinery, nee
Electric and electronic equipment
Household audio & video, & communications
equipment
Electronic components and accessories
Other
Household appliances
Electrical machinery, nee
1990
37,815
31,950
31,263
93,865
Primary and fabricated metals
Primary metal industries
Ferrous
Nonferrous
Fabricated metal products
Metal cans, forgings, and stampings
Cutlery, hardware, and screw products
Heating equipment, plumbing fixtures & structural
metal
Metal services, ordnance, and fabricated metal
nee
314,754
1989
6,463
749
719
30
42
123
-81
471
375
96
2,458
48
2,410
3,531
-1,122
751
219
737
278
459
1,573
1,296
277
556
244
220
92
-1,094
422
4,308
311
50
1,004
966
374
712
-58
4,650
114
60
54
201
108
92
960
338
622
701
533
168
252
-84
-122
436
2,582
232
2,350
375
579
-204
1,026
918
202
-94
-1,622
179
7,134
2,010
477
630
3,103
-559
880
277
28
724
607
-85
19
-136
-111
36
20
n
674
2,284
1,034
-128
213
328
56
194
17
8
-64
-39
-25
37
31
6
212
62
150
-177
271
-447
-487
40
-119
69
181
-5
186
-267
-282
15
97
81
&
448
157
-116
166
-159
1
252
38
8
-306
294
-144
29
-298
-259
67
-5
-104
(D)
-575
-5
-486
-105
-382
-543
-366
-177
113
51
91
A
8
-105
-501
27
-82
-142
-197
-289
93
-33
SURVEY OF CURRENT BUSINESS
114 • August 1992
Table 17.—Foreign Direct Investment in the United States: Industry Detail for Selected Items—Continued
[Millions of dollars]
Direct investment position on a historical-cost basis
1987
Hardware, plumbing, and heating equipment and
supplies
Durable goods nee
Groceries and related products
Farm product raw materials
Other nondurable goods
Paper and paper products
Drugs proprietaries and sundries
Apparel, piece goods, and notions
Nondurable goods, nee
Retail trade
General merchandise stores
Food stores ..
Apparel and accessory stores
Other
Eating and drinking places
Retail trade nee
Banking
Finance, except banking
Savings institutions and credit unions
Holding companies
Franchising, business — selling or licensing
Other finance, including security and commodity brokers
Insurance
Life insurance
Accident and health insurance
Other insurance
1988
1989
1990
1989
1988
417
1,584
1,425
782
6,580
1,252
376
452
4,500
695
2,575
1,835
856
5,618
1,628
497
611
2,882
812
3,092
2,026
555
6,000
1,791
381
563
3,266
916
3,936
1,729
903
5,260
1,667
215
470
2,908
914
4,374
1,775
1,114
5,430
1,412
252
451
3,315
45
439
462
95
2,667
79
46
212
2,330
275
451
322
153
586
393
145
7,972
1,089
2,537
1,181
3,164
116
3,048
9,865
2,340
2,408
961
4,155
168
3,986
8,549
833
2,448
1,465
3,804
313
3,491
8,877
1,616
129
424
17
1,046
13
1,033
1,336
2,752
1,956
4,714
1,701
3,013
6,730
-2,093
3,338
1,348
4,137
1,527
2,610
14,354
16,906
18,431
18,731
20,655
1,660
2,737
7,389
619
3,131
1
8,113
730
4,795
4
18,657
1,415
6,189
11
10,129
1,437
2,395
12
9,196
2,239
2,102
14
1,724
21
1,903
1
3,638
2,585
11,042
6,286
4,842
-201
17,712
8
9,774
18,991
7,263
771
10,958
22,509
8,483
893
13,133
24,922
9,817
982
14,123
33,306
15,439
1,473
16,394
-544
Income
Capital intflows (outflows (-))
1987
1991
4
44
38
-4 31
-159
1,1 89
66
1,122
6 15
1990
140
630
805
-379
465
330
38
-78
175
-1,328
-1,463
-2
83
55
109
-54
2,221
1987
1991
38
-52
492
24
152
109
106
371
124
124
-61
185
65
149
1
-14
159
45
97
-93
110
-155
-1,291
83
-1,424
579
451
239
-25
264
-781
201
42
213
-1,803
(D)
137
804
5
427
252
190
233
-245
-163
589
-578
-520
-125
-395
1,918
-110
-602
4,246
2,746
465
1,034
1,039
196
11
832
1,016
156
40
820
30,386
34,552
33,747
4,500
3,164
3,800
6,061
20,614
5,765
6,629
2,084
31,557
10,429
6,768
2,264
31,511
11,041
6,929
2,491
6,241
2,311
3,830
528
8,825
2,5 10
4,4 01
586
6,399
1,863
2,973
1,228
10,479
5,125
548
193
53
773
260
245
(D)
(D)
636
4,740
1,067
1,620
145
77
624
6,643
17
201
2,045
4,504
1,547
227
16
200
2,275
4,438
1,433
265
8
D\
D
-75
64
1,238
1,745
1,550
32
183
1,869
4,546
1,027
187
14
19
160
355
769
42
8
(D)
354
567
1,524
2,801
(D)
(D)
2,247
2,028
3,276
464
404
1,862
9,285
1,178
443
368
1,928
7,520
1,094
(D)
(D)
274
908
3,066
900
0
135
765
189
615
2,280
0
61
2,218
198
747
420
0
53
367
282
2,214
(D)
492
0
11
481
529
2,876
229
240
S
1,186
1
22
919
25
1,533
791
0
181
610
566
3,570
-5
81
-45
1,926
1
27
1,585
Other industries
Agriculture, forestry, and fishing
Agriculture
Agricultural production—crops
Agricultural production—livestock & animal specialty
Agricultural services
Forestry and fishing
Forestry
Fishing, hunting, and trapping
Mining
Coal
Coal mining
Coal mining services
Other
Metal mining
Iron ores
Copper, lead, zinc, gold, and silver ores
Other metallic ores
Metal mining services
Nonmetallic minerals, except fuels
Nonmetallic minerals mining, except fuels
Nonmetallic minerals services, except fuels ....
Construction
Transportation
Railroads
Water transportation
Transportation by air .
Pipelines, except petroleum and natural gas
Passenger transportation arrangement
Transportation and related services, nee
Communication and public utilities
Communication
Telephone and telegraph communications
Other communications services
Electric, gas, and sanitary services
11,323
1,250
1,123
704
13,651
1,116
1,104
618
13,027
1,350
1,271
737
17,587
1,334
1,051
547
401
19
126
82
44
5,591
3,323
3,321
2
2,269
1,563
(D)
1,324
163
426
60
12
-5
16
7,440
5,275
5,273
2
2,166
1,247
116
1,083
50
-1
918
918
0
1,519
1,994
671
24
69
0
57
1,173
1,582
52
154
471
64
79
64
15
4,741
933
933
1
3,808
1,746
(D)
1,378
216
(D)
2,062
2,062
0
2,407
2,221
688
50
82
0
169
1,233
2,307
-86
(D)
(D)
2,393
n
&
705
n
1,345
1,790
555
65
76
0
90
1,005
1,346
159
8
151
1,187
* Less than $500,000 (±).
D
Suppressed to avoid disclosure of data of individual companies.
n
-103
1,530
510
3,302 471
1,133
(D)
(D)
65
-545
78
535
0
24
511
21
11
(D)
(D)
i 29
3,8 15
°)
D
)
sl
1
5 06
-192
1,3 78
-22
19
1
-52
-55
-14
i
3,718
489
54
-22
35
-1,903
-87
3
-22
-85
7
25
-15
-36
66
0
-50
116
-50
581
303
0
179
124
29
679
3
738
-98
162
%
8
329
-234
289
n0
-105
18
579
499
16,662
1,235
918
478
2,235
169
84
28
3,5 54
66
42
•67
699
74
73
59
3,154
-80
-78
-65
442
62
283
278
4
9,230
824
824
1
8,407
5,851
(D)
5,311
323
(D)
2,555
2,555
0
2,519
2,225
949
20
379
60
317
299
19
8,802
695
698
2
8,106
5,941
206
5,250
490
-5
2,166
2,166
0
2,706
1,719
789
-5
54
2
85
49
35
1,259
356
358
_p
25
26
10
3
1
-1
2
639
-8
-7
-1
646
183
-11
-2
-2
12
-14
2,460
-18
-16
-1
2,478
1,986
3
B
-355
-511
0
266
1,345
2,279
-91
(D)
(D)
2,371
0
286
1,160
2,201
-129
256
-385
2,330
903
718
7<S
7
(D)
185
185
n
374
136
-2
-32
13
0
7
151
298
-44
4
-46
342
42
-1
2,2 62
31
31
i,e
i,fi
n
i 31
-5
(D)
05
05
0
47
10
2 81
40
-8
0
38
14
^6 20
-148
21
-169
68
1
e
-500
-104
(D)
(D)
-5
-8
42
-30
56
i3
-176
-1
21
225
14
-70
18
30
n
126
-472
-132
-53
-2
-32
n
-700
49
193
2
-87
-79
0
57
1,4 36
7
2 16
D
)
D
)
11
158
1
-402!
83
55
2
4,047
1,883
88
2,077
19,048
4,010
7,489
846
251
-294-
2,239
604
62
1,573
25,867
-38
38
170
1,339
(D)
n
80
(D)
463
463
0
205
191
37
17
63
0
70
4
-409
-1,319
$
910
<3
. 1,855n
67
(D)
491
491
0
120
544
263
1
23
0
101
155
109
-6
-277
-45
648
-12
0
-29
17
20
-15
1
-5
-3
-31
-27
0
-52
25
13
-15
-1
-5
-1
-24
64
23
16
8
n
-668
-107
-129
-69
-58
-2
21
20
1
-293
135
-134
-2
-158
237
(D)
96
157
(D)
-395
-395
0
198
-389
-159
-25
-136
0
17
-87
-77
-35
a 5
114
-160
n
102
-80
-74
-19
n
-37
-153
-128
-72
-54
-1
-6
-4
-2
198
112
111
-54
-1
-26
-25
-1
146
94
95
86
50
-4
62
-7
52
19
6
19
-6
-1
33
33
n
n
36
36
-fl18
-6
-27
-6
0
2
55
50
-96
n
-96
147
130
-577'
-277'
-641
2,467
13,514
2,408
5,428
688
-710
-1,463
1,878
(D)
(D)
1,011
)
1,1 63
-1,435
31
-19
150
2
2,071
D
)
D
8
-1,010
-1,006
232
459
-2,531
1
-109
-37
-358
8,893
15
-20
2
-115
21
105
119
34
-64
-5
43
1,482
2
-172
n
65
-24
-35
62
55
(°)
97
14
82
-5 35
58
22,025
a
u8
234
72
49
9
40
2,541
640
-113
1991
-227
-102
-2,439
149
-60
2
Real estate
44
373
169
-77
154
-7
160
11,210
414
1,895
8
1,090
1990
-1
17
83
42
271
82
108
-12
94
-3
606
115
303
173
25
-61
-94
302
Services
Hotels and other lodging places
Business services . . .
Computer and data processing services
Computer processing and data preparation services
Information retrieval services
Computer related services, nee
Other business services
Advertising
Services to buildings
Equipment rental and leasing, except autos &
computers
Personnel supply services
Business services, nee
Motion pictures, including television tape and film
Engineering, architectural, and surveying services
Accounting, research, management, and related services
Accounting, auditing, and bookkeeping services
Research, development, and testing services
Management and public relations services
Health services
Other
Automotive rental and leasing, without drivers
Automotive parking, repair, and other services
Miscellaneous repair services
Amusement and recreation services
Legal services
Educational services
Other services provided on a commercial basis
8
1989
1988
n
-205
51
39
-53
-6
0
9
62
123
-3
-1
-1
126
-102
-9
-23
14
13
73
2
-929
-2:
-276
-542
734
226
89
418
1,118
576
97
445
270
1934
1812'
-460
-206
-393
-450
-677
-153
-324
32
-32
-142
19
36
-87
-149
387'
-465
128
724
66
41
-59
174
35
-34
-1
32!
10
25
1'l
(D)
28
28
70
17
77
80
-set
(D)
-292
-360
-201
-2
8
-340
-19
0
-25
0
-47
22
20
24
-1
-7
-2
-34
21
0
-29
50
10
23
<2
69
212
-173
168
-97
-73
1
-5
-2
-3
262
27
27
-1
235
137
3
137
-2
-1
98
98
0
-25
-1
-12
-18
-9
0
-3
41
149
-61
15
-76
210
n
-0
-46
n
120
192
-186
-176
-93
-81
-2
-10
(°)
(D)
375
1
1
-1
376
324
-7
341
-9
-1
51
51
0
-107
-79
19
-46
-42
0
5
-14
188
-69
12
-80
257
3*
169
-144
-26
0
-28
2
29
-30
n
-1
(D)
-ft
n
(D)
-543
-224
-224
-101
-120
-3
n
j>
137
-15
-13
—y
152
212
-8
25(5
-33
-1
-60
-60
0
-302
-276
-64
-47
-85
0
-9
-71
121
-93
8
-101 •
215
NOTE.—In this table, unlike in the international transactions accounts, as revised in June 1992, income and capital
inflows are shown without a current-cost adjustment and income is shown net of withholding taxes.
SURVEY OF CURRENT BUSINESS
August 1992 • 115
Table 18.—Foreign Direct investment Position in the United States on a Historical-Cost Basis and Direct Investment Income,
by Country of Each Member of the Foreign Parent Group and by Country of Ultimate Beneficial Owner'
[Millions of dollars]
1989
All countries
Canada
Europe
Austria
Belgium
Denmark
Finland
France
Germany 2
Ireland
Italy
Liechtenstein
Luxembourg ...
Netherlands
Norway
Spain
Sweden
Switzerland
I
United Kingdom
Other
Latin America and Other Western Hemisphere
South and Central America
Brazil
Mexico
Venezuela
Other
Other Western Hemisphere
Bahamas
Bermuda
Netherlands Antilles
United Kingdom Islands Caribbean
Other
Africa
South Africa
Other
Middle East
Israel
Kuwait
. . .
Lebanon
Saudi Arabia
United Arab Emirates
Other
Asia and Pacific
Australia .
Hona Konq
Japan
Korea Republic of
Malaysia
New Zealand
Philippines
Sinaaoore
Taiwan
Other
.
.
.
By country of each
member of the foreign
parent group
Position
Income
By country of ultimate
beneficial owner
By country of ultimate
beneficial owner
Position
Position
Position
Position
Income
Income
Income
Position
Income
7,491
368,924
7,491
396,702
1,564
396,702
1,564
407,577
-2,907
407,577
-855
39,923
391
30,037
-395
40,580
887
30,002
-1,841
40,650
-943
239,190
386
3,799
656
1,297
15,365
8,485
-86
317
-5
-18
209
220,608
465
3,886
769
1,141
17,988
7,599
-95
337
6
-133
245
250,973
623
3,866
819
1,513
18,665
4,156
-136
163
-47
-108
-935
233,653
334
3,766
934
1,381
22,054
4,084
-183
-158
-27
-200
-1,011
258,127
472
3,653
1,219
1,547
22,740
1,375
-173
317
-42
-131
-590
240,596
217
3,939
1,005
1,609
27,069
1,040
-196
201
-17
-172
-758
28,386
1,416
1,436
177
407
56,734
305
125
-171
-12
-81
2,027
31,637
1,274
4,055
207
483
39,260
504
130
-209
-64
-30
2,030
28,309
1,208
1,869
181
2,118
63,938
-228
-77
-355
-65
-4
102
32,269
1,539
4,096
220
545
39,573
114
-62
-438
-85
-87
1,352
28,171
1,292
2,859
98
974
63,848
-924
-167
-253
-59
-111
423
33,301
1,380
3,121
139
455
42,136
-500
-116
-290
-87
-89
10
576
601
5,435
18,746
103,458
316
-13
29
201
946
4,726
-11
606
618
6,332
19,076
92,541
270
-1
28
212
794
3,876
-31
773
790
5,467
17,745
102,790
299
21
22
-126
179
5,788
-37
770
793
6,591
19,605
98,945
238
20
3
-127
348
4,691
-65
556
1,161
5,597
17,594
106,064
282
-24
26
-428
213
3,355
-57
764
917
6,791
18,632
98,895
224
238
3,300
-63
16,218
-284
8,627
-251
19,616
-246
8,882
53
17,673
-155
9,979
165
5,819
428
350
3,392
1,163
486
28
63
-149
26
79
11
5,258
1,593
687
591
1,677
709
-95
62
-154
-136
129
4
6,020
378
550
4,099
489
503
375
31
20
173
108
43
5,410
1,679
1,003
598
1,454
676
106
90
-25
-98
128
11
6,466
488
608
4,367
544
458
356
43
58
224
9
21
6,033
1,827
1,030
889
1,646
641
177
94
-27
-37
170
-22
10,399
-52
1,102
8,733
-215
922
-312
24
-146
-143
-129
81
3,369
229
1,968
731
443
-3
-156
-27
41
-77
-78
16
13,596
1,508
1,517
12,584
-2,935
923
-621
90
-23
-243
-484
39
3,472
187
2,365
656
247
17
-53
1
174
-99
-126
-3
11,208
1,195
1,323
7,948
-466
1,208
-511
70
-83
-7
-496
5
3,946
290
2,582
658
403
13
-12
48
86
-61
-82
-3
505
26
480
-34
-3
-31
1,135
913
222
35
52
-16
512
10
502
-55
-3
-52
1,779
1,564
215
19
57
-38
309
-10
319
-137
-4
-133
1,551
1,374
176
-76
-26
-50
7,588
630
4,280
-9
2,455
112
119
19
37
^2
-4
38
-22
11
11,731
711
5,425
211
3,747
• 1,454
182
-170
41
-62
-51
-76
-20
-2
4,423
626
1,831
-18
1,803
97
85
-41
-9
39
-9
-18
-28
-16
10,735
706
4,943
221
3,463
1,223
179
-692
-15
-211
-55
-147
-219
-45
4,798
1,085
2,000
-27
1,588
97
55
-68
^-75
22
-9
46
-27
-25
9,967
1,173
4,395
261
3,034
958
145
75,053
4,962
1,124
67,268
-307
29
166
82
934
476
318
160
-254
-15
670
-149
84,317
8,652
4,072
69,485
-402
9
638
114
533
619
598
-462
-718
-3
624
-158
-7
-66
-22
-19
-63
-28
91,141
6,539
1,199
81,775
-1,000
56
138
74
1,147
824
389
-1,855
-466
-12
-1,234
-116
-7
1
-5
8
-3
-20
98,121
8,551
3,343
84,430
-1,159
72
428
100
374
1,191
790
-3,116
-989
-511
-1,247
-122
-8
-13
-17
-79
-58
-71
96,668
6,626
1,272
86,658
-542
85
131
50
914
1,115
360
-2,080
-329
-52
-1,484
-130
-3
-14
-9
-21
-16
-23
101,756
6,929
3,515
88,934
-653
93
348
103
204
1,536
746
2,582
348
2,952
328
192,608
12,623
6,881
-47
204,548
11,326
4,309
-487
-S_^
25
11
(D)
212,361
8,067
7,467
50
Suppressed to avoid disclosure of data of individual companies.
1. The ultimate beneficial owner is that person, proceeding up a U.S. affiliate's ownership chain, beginning with
and including the foreign parent, that is not owned more than 50 percent by another person. The country of ultimate
beneficial owner is often the same as that of the foreign parent, but it may be a different foreign country or the
United States.
Income
By country of ultimate
beneficial owner
30,370
* Less than $500,000 (±).
D
1991
By country of each
member of the foreign
parent group
368,924
United States
European Communities (12)
1990
By country of each
member of the foreign
parent group
224,447
4,246
4,394
98
232,007
4,275
1,984
57
-2,907
n
-9
-411
-552
-74
5
-70
-67
-315
-32
-2,770
-318
-388
-1,606
-132
-8
-25
-19
-125
-101
-50
3,079
230
212,196
10,256
1,663
-214
2. For 1989, this line includes only the Federal Republic of Germany. For 1990, it also includes the former German Democratic Republic (GDR). This change has no effect on the data because, in 1989, there were no U.S.
affiliates of the former GDR.
3. See footnote I/table 10.1.
NOTE.—In this table, unlike in the international transactions accounts, as revised in June 1992, income is shown
net of withholding taxes and without a current-cost adjustment.
SURVEY OF CURRENT BUSINESS
August 1992
U.S. Direct Investment Abroad:
Detail for Historical-Cost Position and Balance of Payments Flows, 1991
THE FOLLOWING TABLES present countiy-by-industry estimates
and estimates by detailed account for U.S. direct investment
abroad (USDIA). The tables cover the USDIA position on a
historical-cost basis and the related capital and income flows.
Tables 17 and 18 present estimates of the position, capital flows,
and income for all countries and for all industries in which
investment was made.
The estimates and table presentation incorporate five changes
from those published in August 1991. First, table i has been
added to show alternative and historical-cost summary estimates
of the U.S. direct investment position abroad and of rates of
return on USDIA.
Second, as part of the annual revisions to the U.S. international transactions accounts in June 1992, all capital gains and
losses have been removed from direct investment income and
from the reinvested earnings component of direct investment
capital outflows.1 (BEA had, in June 1990, already excluded
capital gains and losses associated with currency translation adjustments from these items.) The change in the direct investment
position is not affected by this change because capital gains and
losses have only been reclassified from one component of the
change in the position (capital outflows) to another (valuation
adjustments). Data were revised back to 1982.
Third, table 2 has been added to reconcile the estimates
presented here with those presented in the U.S. international
transactions accounts in the June 1992 SURVEY OF CURRENT
BUSINESS. The estimates in this issue do not incorporate two
i. For a full discussion of the changes in the treatment of direct investment transactions
in the U.S. international transactions accounts, see "U.S. International Transactions" in the
June 1992 SURVEY OF CURRENT BUSINESS.
changes introduced in June, because the source data needed to
carry these changes to the detailed country and industry level
presented here are not available. The following changes were not
incorporated: The adjustment of the earnings component of direct investment income and the reinvested earnings component:
of direct investment capital outflows to reflect current-period
prices, and the recording of direct investment current-account
items gross (before deduction) of U.S. and foreign withholding
taxes.
Fourth, a new methodology has been introduced to account
for equity capital increases and decreases of delinquent reporters,,
beginning with estimates for 1990.
Fifth, former tables 6 and 7, as published in August 1991.,
have been dropped and the information they contained has been
largely incorporated into the other tables.
Summary estimates and analyses of the position, valued in
current-period prices as well as historical costs, were published
in the June 1992 SURVEY article "The International Investment
Position of the United States in 1991." Summary estimates
and analyses of the flows on a current-cost basis and gross
of withholding taxes were published in "U.S. International
Transactions," also in the June 1992 issue.
The survey from which the estimates were derived was conducted by Mark W. New under the supervision of Patricia C.
Walker. Laura A. Downey, Steven C. Ladd, Marie K. Lad-domada, Richard J. McDermott, Leila C. Morrison, Gary M.
Solamon, and Dwayne Torney assisted with the survey and
with the preparation of the estimates. Smith W. Allnutt in
programmed the tables.
Tables i through 18 follow. H
SURVEY OF CURRENT BUSINESS
August 1992
Table 1.—Alternative Position and Rate of Return Estimates for U.S. Direct Investment Abroad: 1989-91
[Millions of dollars or percent]
Change in 1990 (decrease (-))
Position
at yearend 1989
Valuation method
Historical cost
Current cost
Market value
Attributable to:
Total
Capital
outflows
51,667
70,765
-91,455
372,419
552,822
807,896
1. Equals direct investment income divided by the average of the beginning- and end-of-year direct investment
positions. For the historical-cost rate of return, direct investment income (table 2, line 14) is measured after deduction
of U.S. and foreign withholding taxes on distributed earnings and interest and excludes a current-cost adjustment
to earnings and capital gains and losses. For the current-cost rate of return, income (table 2, line 1) is measured
before deduction of U.S. and foreign withholding taxes on distributed earnings and interest and includes a currentcost adjustment to earnings; capital gains and losses are excluded. For the market-value rate of return, income
Table 2.—U.S. Direct Investment Abroad: Reconciliation With
International Transactions Accounts
34,111
32,694
32,694
Valuation
adjustments
17,555
38,071
-124,149
1
2
3
4
5
fi
7
1990
54,490
54356
39,578
14778
49,221
47834
29947
17887
1 387
4,548
3231
55,428
53660
34,192
19468
1 768
4,708
2940
-1,172
1,862
1,785
-1,417
1,728
1,610
-1,062
1,312
1,200
118
137
19
112
132
20
55,117
48,970
134
3,365
3161
Equals: Income without current-cost adjustment, after deduction of
withholding taxes (shown in the accompanying tables)
15
16
17
18
19
20
21
22
Capital outflows with current-cost adjustment (IT table 1, line 44,
with sign reversed)
Equity capital
Increases in equity capital
Decreases in equity capital
. .
Reinvested earnings (line 4)
Intercompany debt
.
..
U S parents' receivables
U S parents' payables
28,995
-1 755
19,982
21737
14778
15,971
18216
-2244
32,694
7455
19,642
12,186
19468
5,770
10582
-4,812
27,135
11 650
21,693
10,043
17887
-2,402
-1 130
-1,271
23
Less: Current-cost adjustment (line 8)
-1,172
-1,417
-1,062
24
Equals: Capital outflows without current-cost adjustment (shown in
the accompanying tables
Equity capital (line 16)
Reinvested earnings without current-cost adjustment (line 19 less line
30,167
-1,755
34,111
7,455
28,197
11,650
15950
15971
20886
5770
18949
-2402
9712
9858
146
12,440
12,705
265
13,317
13,500
183
554
626
669
559
5
635
9
675
6
9,158
9,299
11,814
12,070
12,648
12,826
141
256
177
4^342
4,357
4,451
8363
9267
9614
4,022
4,910
5,163
29
30
31
32
33
34
35
36
37
38
39
Intercompany debt (line 20)
Royalties and license fees, before deduction of withholding taxes,
net
U S parents' receipts (IT table 1 part of line 8)
U.S. parents' payments (IT table 1, part of line 22, with sign reversed)
Less- Withholding taxes net
On U.S. parents' receipts
On U S parents' payments
Equals: Royalties and license fees, after deduction of withholding
taxes net (shown in the accompanying tables)
U S parents' receipts
U S parents' payments
Charges for other services, net ]
U.S. parents' receipts (IT table 1 , part of line 9; also shown in the accompanying tables)
U.S. parents' payments (if table 1, part of line 23, with sign reversed;
also shown in the accompanying tables)
77
98
21
53,800
1. Withholding taxes on "other services transactions between U.S. parents and foreign affiliates are assumed to be negligible and
no estimates of them are made. Therefore, there is no difference between the "before-tax" estimates shown in the international
transactions accounts and the "after-tax" estimates shown in the accompanying tables.
IT International transactions
-2,087
4,538
58,424
1989
1990
1991
15.2
10.2
13.8
11.2
450,196
655,260
302,000
9.4
7.6
7.9
7.7
6.9
(line 1 minus line 8 from table 2 plus column 12 from table 5) is measured before deduction of U.S. and foreign
withholding taxes on distributed earnings and interest and excludes a current-cost adjustment to earnings; capital
gains and losses are included.
1990
Change
Millions of dollars
Millions of dollars
1989
14
27
28,197
27,135
27,135
26,110
31,673
85,559
1991
Less: Current-cost adjustment to earnings
Less: Withholding taxes, net
On distributed earnings
On interest net
On U S parents' receipts
On U S. parents' payments
28
Valuation
adjustments
Capital
outflows
Table 3.—U.S. Direct Investment Position Abroad on a HistoricalCost Basis
8
9
10
11
12
1?
25
26
Total
Direct investment position
1989
Income with current-cost adjustment, before deduction of withholding taxes (IT table 1, line 12)
:
Earnings
Distributed earnings
Reinvested earnings
Interest net
U.S. parents' receipts
U S parents' payments
.
.
Position
at yearend 1991
Attributable to:
424,086
623,587
716,441
[Millions of dollars]
Line
Rate of return l
Change in 1991 (decrease (-))
Position
at yearend 1990
1991
1990
1991
Percent
1990
1991
372,419
51,393
144,679
176,347
424,086
56,957
164,466
202,662
450,196
59,160
175,413
215,623
51,667
5,564
19,787
26,315
26,110
2,203
10,947
12,961
13.9
10.8
13.7
14.9
6.2
3.9
6.7
6.4
Developed countries
Petroleum
Manufacturing
Other
278,309
35,432
115,444
127,434
318,156
40,810
131,567
145,779
335,433
41,229
139,082
155,122
39,846
5.379
16,123
18,345
17,278
419
7,516
9,343
14.3
15.2
14.0
14.4
5.4
1.0
5.7
6.4
Canada
Petroleum
Manufacturing
Other
63,919
11,364
30,213
22,341
67,033
11,388
31,790
23,854
68,510
10,847
32,360
25,303
3,114
24
1,577
1,513
1,477
Europe
Petroleum
Manufacturing
Other
179,839
17,484
70,258
92,097
211,194
22,475
83,333
105,386
224,554
22,829
89,090
112,636
31,355
4,991
13,075
13,289
13,361
353
5,758
7,250
Other
Petroleum
Manufacturing
Other
34,551
6,583
14,973
12,995
39,929
6,947
16,444
16,539
42,369
7,554
17,632
17,183
5,378
364
1,471
3,543
2,440
607
1,188
645
90,374
13,238
29,236
47,900
102,360
13,643
32,900
55,817
111,608
15,526
36,331
59,751
11,987
405
3,664
7,917
9,247
1,883
3,431
3,933
13.3
Latin America and Other Western
Hemisphere
Petroleum
Manufacturing
Other
62,485
4,096
21,479
36,910
71,593
4,140
23,733
43,720
77,342
4,339
25,687
47,315
9,108
44
2,253
6,811
5,749
200
1,954
3,595
14.6
Other
Petroleum
Manufacturing
Other
27,889
9,142
7,756
10,990
30,767
9,503
9,167
12,097
34,266
11,187
10,644
12,435
2,879
361
1,411
1,107
3,499
1,683
1,477
338
10.3
3,737
3,570
3,155
-167
^415
-4.5
All areas
Petroleum
Manufacturing
Other
.
...
Developing countries ;
Petroleum
Manufacturing
Other
International
. .
-542
570
1,449
4.9
.2
5.2
6.8
17.4
28.5
18.6
14.4
15.6
5.5
9.8
27.3
3.1
12.5
16.5
1.1
10.5
18.5
4.0
18.2
10.1
2.2
-4.8
1.8
6.1
6.3
1.6
6.9
6.9
6.1
8.7
7.2
3.9
9.0
13.8
10.4
7.0
8.0
4.8
8.2
8.2
11.4
17.7
16.1
2.8
-11.6
Il8 • August 1992
SURVEY OF CURRENT BUSINESS
Table 4.—U.S. Direct Investment Position Abroad on a Historical-Cost Basis by Account
[Millions of dollars]
1990
1991
Intercompany debt
Total
U.S.
parents'
receivables
Equity '
Net
All areas
Petroleum
Manufacturing
Other
. .
Intercompany debt
Total
U.S.
Equity l
parents'
payables
Net
U.S.
U.S.
parents'
receivables
parents'
payables
424,086
56,957
164,466
202,662
393,043
48,515
153,225
191,304
31,043
8,443
11,241
11,359
95,607
18,611
27,208
49,788
64,564
10,168
15,967,
38,429
450,196
59,160
175,413
215,623
422,859
53,830
161,453
207,576
27,337
5,330
13,960
8,047
94,564
17,293
29,488
47,783
67,226
11,963
15,527
39,736
Developed countries
Petroleum
Manufacturing
Other
318,156
40,810
131,567
145,779
276,022
31,527
123,336
121,160
42,134
9,284
8,231
24,619
72,525
11,633
20,673
40,220
30,391
2,349
12,442
15,600
335,433
41,229
139,082
155,122
291,286
34,129
128,353
128,804
44,147
7,100
10,729
26,318
73,527
11,171
21,759
40,596
29,379
4,071
11,030
14,278;
Canada
Petroleum
Manufacturing
Other
67,033
1 1 ,388
31,790
23,854
58,930
9,759
28,880
20,291
8,103
1,629
2,910
3,563
12,982
2,069
6,109
4,804
4,879
440
3,198
1,241
68,510
10,847
32,360
25,303
61,213
9,301
30,686
21,226
7,296
1,546
1,674
4,077
12,371
1,802
5,201
5,369
5,075
256
3,527'
1,291
Europe
Petroleum
Manufacturing
Other
211,194
22,475
83,333
105,386
184,986
15,759
79,676
89,552
26,208
6,717
3,657
15,834
49,296
8,318
12,234
28,745
23,089
1,601
8,577
12,910
224,554
22,829
89,090
112,636
195,355
18,222
81 ,797
95,337
29,199
4,607
7,293 .
17,299
50,601
8,229
13,923
28,449
21,402
3,622!
6,630
11,150
7,823
938
1,664
5,222
10,246
1,246
2,330
6,671
2,423
308
666
1,449
42,369
7,554
17,632
17,183
34,717
6,606
15,870
12,241
7,652
948
1,762
4,942
10,555
1,140
2,636
6,779
2,903
193
873
1,836
-11,014
;
Other
Petroleum
Manufacturing
Other
39,929
6,947
16,444
16,539
Developing countries
Petroleum
Manufacturing
Other
102,360
13,643
32,900
55,817
113,375
14,388
29,889
69,098
3,010
-13,281
22,437
6,560
6,536
9,341
33,451
7,304
3,525
22,622
111,608
15,526
36,331
59,751
128,217
17,261
33,100
77,857
-16,610
-1,735
3,231
-18,106
20,537
5,755
7,728
7,054
37,147
7,490
4,497
25,160
Latin America and Other Western Hemisphere
Petroleum
Manufacturing
Other
71,593
4,140
23,733
43,720
82,033
3,814
20,546
57,674
-10,440
326
3,187
-13,953
12,505
1,350
4,090
7,066
22,946
1,023
903
21,019
77,342
4,339
25,687
47,315
92,515
4,125
22,520
65,870
-15,173
214
3,167
-18,554
10,141
1,296
4,214
4,630
25,314
1 ,082
1 ,048
23,185
Other
Petroleum
Manufacturing
Other
30,767
9,503
9,167
12,097
31,342
10,574
9,344
11,424
673
9,931
5,210
2,445
2,275
10,505
6,281
2,622
1,603
34,266
11,187
10,644
12,435
35,702
13,136
10,579
11,987
-1,436
-1 ,949
65
448
10,397
4,459
3,514
2,424
11,833
6,408
3,449
,1,976
3,570
3,647
-77
646
722
3,155
3,355
-200
500
700
International
32,106 .
6,009
14,780
11,317
1. Includes capital stock, additional paid-in capital, retained earnings, and cumulative translation adjustments.
-744
-574
-1,070
-177
SURVEY OF CURRENT BUSINESS
August 1992
119
Table 5.—Change in the Historical-Cost U.S. Direct Investment Position Abroad by Account
[Millions of dollars]
Capital outflows
Valuation adjustments
Intercompany debt
Equity cap tal
Total
Total
(1)
(2)
Net
Increases
Decreases
(3)
(4)
(5)
Reinvested
earnings
(6)
Increases
in U.S.
parents'
payables l
Total
Translation adjustments2
Other
capital
gains and
losses
Other
Net
Increases
in U.S.
parents'
receivables
(7)
(8)
(9)
(10)
(11)
(12)
(13)
1990
All areas
Petroleum
Manufacturing
Other
51,667
5,564
19,787
26,315
34,111
4,240
11,139
18,732
7,455
302
380
6,773
19,642
2,054
4,167
13,421
12,186
1,751
3,787
6,648
20,886
2,834
9,504
8,548
5,770
1,104
1,255
3,411
10,582
2,480
4,122
3,980
4,812
1,376
2,867
569
17,555
1,324
8,648
7,584
13,705
987
7,291
5,427
1,010
116
1,512
2,841
221
1,975
645
39,846
5,379
16,123
18,345
20,812
3,771
6,576
10,466
7,436
608
129
6,700
16,383
1,610
3,465
11,308
8,947
1,003
3,336
4,608
12,503
2,047
6,011
4,445
873
1,116
435
-679
5,967
1,568
2,595
1,804
5,094
452
2,160
2,482
19,034
1,608
9,547
7,879
13,761
864
7,413
5,484
1,770
113
405
1,252
3,503
631
1,729
1,143
Canada
Petroleum
Manufacturing
Other
3,114
24
1,577
1,513
2,894
134
1,297
1,464
387
101
1,225
235
-69
70
234
2,272
102
1,341
828
2,444
312
1,441
691
172
210
100
219
(D)
838
(D)
460
(D)
280
49
118
-40
174
-16
Europe
Petroleum
Manufacturing
Other
31,355
4,991
13,075
13,289
14,280
3,528
4,564
6,188
7,008
500
427
6,081
13,696
1,422
2,489
9,786
6,689
922
2,061
3,705
11,276
1,906
5,382
3,989
^,004
1,122
-1,245
-3,882
425
1,196
740
-1,511
4,430
74
1,985
2,371
17,075
1,464
8,511
7,101
Other
Petroleum
Manufacturing
Other
5,378
364
1,471
3,543
3,638
109
715
2,814
42
7
1,420
218
1,462
(D)
632
(D)
815
(D)
991
211
559
221
2,605
-109
339
2,375
3,097
59
414
2,624
492
168
75
249
Developing countries
Petroleum
Manufacturing
Other
11,987
405
3,664
7,917
13,607
820
4,563
8,224
199
(D)
251
(D)
3,141
(D)
701
(D)
2,942
490
450
2,002
8,339
850
3,493
3,995
5,070
(D)
820
(D)
4,884
(D)
1,527
(D)
9,108
44
2,253
6,811
10,727
175
3,321
7,231
202
(D)
378
(D)
2,044
34
494
1,516
1,842
(D)
116
(D)
5,688
85
2,311
3,292
4,837
(D)
632
(D)
2,879
361
1,411
1,107
2,880
645
1,242
993
-3
(D)
1,097
327
207
563
1,100
(D)
334
(D)
2,650
765
1,182
703
-167
-308
117
297
44
Developed countries
Petroleum
Manufacturing ...
Other
.
Latin America and Other Western Hemisphere
Petroleum
...
Manufacturing
Other
.
.. ..
Other
Petroleum
Manufacturing
Other
International
-115
401
-183
-127
(D)
-180
fi
n
-618
-36
-88
14
211
-34
194
52
12,870
759
6,968
5,143
1,500
7
500
994
2,705
698
1,044
964
1,740
255
755
730
774
145
271
357
379
142
245
587
-33
492
128
-186
-1,621
932
707
-1,825
-415
-899
-306
-64
116
-889
-124
-1 ,023
^07
246
2,952
275
696
1,981
-1,885
(D)
65
(D)
-1,619
233
(D)
188
(D)
1,932
756
830
346
1,699
(D)
642
(D)
-173
-269
-138
-110
-122
-110
_7
-668
-57
258
-507
-33
57
-82
-8
-1,224
-363
168
114
-32
58
-41
-49
335
94
-22
264
-96
142
7
128
6
-2,087
842
-1,366
-1,563
-2,264
391
-1,888
2,361
1,125
-2,184
-797
-767
2,033
1,319
-2,829
-2,125
310
-1,718
2,323
1,084
-717
1,550
-131
-1,068
-420
-2
-284
-217
-1,001
-5
29
15
-407
-305
-436
231
-100
1991
All areas
Petroleum
Manufacturing
Other
26,110
2,203
10,947
12,961
28,197
1,361
12,312
14,524
11,650
1,689
1,895
8,066
21,693
2,769
6,589
12,334
10,043
1,080
4,694
4,269
18,949
2,652
7,474
8,822
-2,402
-2,981
2,943
-2,363
-1,130
-1,256
2,407
-2,282
1,271
1,725
Developed countries
Petroleum
Manufacturing
Other
17,278
419
7,516
9,343
19,093
350
8,497
10,246
7,543
(D)
1,722
(D)
14,677
(D)
5,922
(D)
7,134
(D)
4,200
(D)
9,478
1,595
4,103
3,781
2,072
(D)
2,673
(D)
1,056
(D)
1,225
(D)
-1,016
(D)
-1,448
(D)
-1,815
69
Canada
Petroleum
Manufacturing
Other
1,477
1,275
1,461
-579
570
1,449
420
1,434
fi
(D)
933
(D)
353
(D)
524
-699
781
442
-710
(D)
-1,192
(D)
-551
-542
2,395
(D)
1,184
(D)
159
(D)
293
(D)
202
37
150
14
273
56
86
131
Europe
Petroleum
Manufacturing
Other
13,361
353
5,758
7,250
16,727
524
7,742
8,460
5,654
505
1,116
4,033
10,076
661
3,658
5,758
4,422
155
2,542
1,724
7,960
1,917
2,863
3,180
3,112
-1,898
3,763
1,247
1,457
-86
1,815
-1,654
1,812
-1,948
-1,519
3366
1,916
988
-1,984
-1,211
-3,026
64
-1,984
-1,106
Other
Petroleum ...
Manufacturing
Other
...
2,440
607
1,188
645
1,091
404
335
351
427
18
634
2,207
32
1,079
1,095
1,779
13
1,305
461
994
376
459
159
-331
10
102
-442
1,350
203
853
294
628
190
180
258
487
199
82
206
9,247
1,883
3,431
3,933
9,372
1,108
3,815
4,448
4,125
1,038
174
2,913
6,988
1,895
668
4,425
2,863
857
494
1,512
9,461
1,063
3,372
5,026
5,749
200
1,954
3,595
6,134
183
2,295
3,657
3,170
121
69
2,981
4,584
193
430
3,960
1,413
73
361
980
3,499
1,683
1,477
338
3,237
925
1,520
792
955
917
105
-68
2,404
1,702
238
465
-415
-267
-18
28
..
Developing countries
Petroleum
Manufacturing
Other
Latin America and Other Western Hemisphere
Petroleum
Manufacturing
Other
Other
Petroleum
Manufacturing
Other
. ...
International
. ..
.
-225
* Less than $500,000 (±).
D
Suppressed to avoid disclosure of data of individual companies.
1. An increase in U.S. parents' payables is a decrease in intercompany debt and, thus, a capital inflow.
2. Represents gains or losses that arise because of changes from the end of one accounting period to the next
J8(°)
-271
149
-106
-536
82
480
-115
309
-54
207
388
^1,214
-993
270
-3,491
-2,040
1,182
-2,417
2,174
188
912
1,074
6,360
173
2,246
3,941
-3,396
-111
-20
-3,265
-2,494
-53
125
-2,566
902
58
145
699
1,450
784
133
532
3,101
890
1,126
1,085
-818
-682
289
-226
453
1,057
148
1,272
130
767
374
45
10
-259
-146
113
-805
-752
-981
-903
-171
-124
775
-139
81
-384
-515
-169
-386
-184
17
-341
-50
11
-160
-311
-80
-103
-104
126
-289
1,218
-30
43
^86
413
-459
21
-532
-674
-2,012
-1,325
1,048
-1,735
9
84
168
-243
-2,256
-1,223
289
-1,322
235
-186
591
-170
45
651
271
-877
257
-15
352
-79
-62
-35
52
261
758
-43
429
22
46
360
-212
-453
45
69
-9
-16
-148
(*)
68
-217
667
-61
-798
in exchange rates applied in translating affiliates' assets and liabilities from foreign currencies into dollars.
NOTE.—In this table, unlike in the international transactions accounts, as revised in June 1992, reinvested earnings
are shown without a current-cost adjustment.
12O
SURVEY OF CURRENT BUSINESS
August 1992
Table 6.—U.S. Direct Investment Abroad: Earnings and Reinvestment Ratios
[Millions of dollars or ratio]
1990
1991
Earnings
Reinvestment
ratio l
1990-91 change in earnings
Earnings
Total
Distributed
Reinvested
.39
.27
.40
.43
-6,181
102
-5,256
-824
-4,244
80
-3,227
-1 ,098
-1,937
-182
-2,030
274
9,478
1,595
4,103
3,781
.33
.32
.30
.36
-7,101
-549
-4,715
1 837
-4,076
-97
-2,807
-1,173
-3,025
-452
-1,908
-664
2,101
516
1,012
573
524
-699
781
442
.20
(2)
.44
.44
-1,769
-774
-813
-182
-2,058
-145
-1,523
-390
288
-629
710
208
22,904
3,921
10,191
8,792
14,943
2,003
7,328
5,612
7,960
1,917
2,863
3,180
.35
.49
.28
.36
-5,060
-291
-3,378
-1,390
-1,743
-303
-860
-581
-3,316
12
-2,518
-809
.26
.28
.26
.24
3,554
1,265
1,614
675
2,560
889
1,155
516
994
376
459
159
.28
.30
.28
.24
-272
517
-524
-265
-275
351
^23
-202
3
166
-100
-63
.45
.20
.63
.44
19,509
4,508
4,977
10,024
10,049
3,445
1,605
4,998
9,461
1,063
3,372
5,026
.48
.24
.68
.50
846
346
-541
1,041
-276
133
-420
11
1,122
213
-121
1,031
.51
.12
.60
.50
11,640
891
3,398
7,351
5,280
718
1,152
3,410
6,360
173
2,246
3,941
.55
.19
.66
.54
460
169
-430
721
-212
81
-365
72
672
88
-66
649
2,650
765
1,182
703
.35
.22
.70
.30
7,869
3,617
1,579
2,673
4,768
2,727
453
1,588
3,101
890
1,126
1,085
.39
.25
.71
.41
386
177
-111
320
-65
52
-55
-62
451
124
-55
382
44
.19
304
294
10
.03
74
108
-34
Total
Distributed
Reinvested
55,077
9,763
23,831
21,482
34,192
6,929
14,328
12,935
20,886
2,834
9,504
8,548
36,184
5,552
18,313
12,319
23,681
3,505
12,302
7,874
Canada
Petroleum
Manufacturing
Other
4,394
592
2,606
1,197
Europe
Petroleum
Manufacturing
Other
Total
Distributed
Reinvested
.38
.29
.40
.40
48,896
9,662
18,575
20,659
29,947
7,009
11,101
11,837
18,949
2,652
7,474
8,822
12,503
2,047
6,011
4,445
.35
.37
.33
.36
29,082
5,003
13,598
10,482
19,605
3,408
9,495
6,701
4,159
661
2,535
963
235
-69
70
234
.05
(2)
.03
.20
2,625
-182
1,792
1,015
27,963
4,212
13,570
10,182
16,687
2,306
8,188
6,192
11,276
1,906
5,382
3,989
.40
.45
.40
.39
Other
Petroleum
Manufacturing
Other
3,826
748
2,138
940
2,835
538
1,579
718
991
211
559
221
Developing countries
Petroleum
Manufacturing
Other
18,663
4,162
5,518
8,983
10,325
3,311
2,026
4,988
8,339
850
3,493
3,995
11,180
721
3,829
6,630
5,492
636
1,517
3,338
5,688
85
2,311
3,292
Other
Petroleum
Manufacturing
Other
7,484
3,440
1,690
2,353
4,833
2,675
508
1,650
International .. ..
230
186
All areas
Petroleum
Manufacturing .. ..
Other
Developed countries
Petroleum
Manufacturing .
Other
.
.
.
Latin America and Other Western Hemisphere
Petroleum
Manufacturing
Other
Reinvestment
ratio »
1. Reinvested earnings divided by earnings.
2. Reinvestment ratio is not defined because reinvested earnings are negative.
•:
NOTE.—In this table, distributed earnings are shown before deduction of withholding taxes. Unlike in the international transactions accounts, as revised in June 1992, earnings and reinvested earnings are shown without a
current-cost adjustment.
Table 7.—Selected Transactions with, and Position on a Historical-Cost Basis in, Netherlands Antillean Finance Affiliates
[Millions of dollars]
1982
Line
1 Direct investment position
2
Equity1
3
Intercompany debt net
4
U.S. parents' receivables
5
U S parents' payables
6 Capital outflows
7
Equity capital
8
Reinvested earnings
g
Intercompany debt, net
Increases in U S parents' receivables
10
11
Increases in U S parents' payables 2
12
13
14
15
Income (13 - 14 + 15)
Earnings
Withholding taxes on distributed earnings
Interest (net of withholding taxes)
.
.
1984
1985
1986
1987
1988
1989
1990
1991
-20,089
12485
-32 574
562
33136
-23,300
14996
-38 296
398
38695
-25,078
16911
-41 989
539
42527
-20,784
16684
-37 468
1,172
38640
-17,230
16425
-33 655
512
34,168
-14,496
15342
-29838
579
30417
-10,335
12121
-22456
677
23133
-6,879
10590
-17469
1,471
18940
-2,460
9949
-12410
3,276
15,685
-3,919
9799
-13718
611
14,329
-8,593
4173
857
-13,623
187
13,810
-3,128
1,411
1 003
-5,542
-164
5,378
-1,973
982
899
-3,855
-40
3,814
4,181
-864
837
4,208
695
-3,513
4,867
745
-401
4,523
120
-4,403
2,904
-1,422
527
3,799
66
-3,732
3,547
-2,568
-2
6,117
98
-6,019
4,489
-953
185
5,257
806
-4,452
4,775
-368
84
5,060
1 805
-3,255
-1 ,023
-262
358
-1,119
-271(5
-1,597
-1 ,935
1 129
0
-3,064
-3,238
1 367
14
-4,591
-3,426
1 773
2
-5,196
-3,196
1 579
3
-4,772
-2,735
1 197
0
-3,931
-2,196
1 138
0
-3,334
-1 ,986
780
(*)
-2,766
-1,372
803
0
-2,175
-993
720
8
-1,705
-704
759
0
-1 ,463
* Less than $500,000.
1. Includes capital stock, additional paid-in capital, retained earnings, and cumulative translation adjustments.
2. An increase in U.S. parents' payables is a decrease in intercompany debt and, thus, a capital inflow.
NOTE—This table shows transactions with, and positions in, affiliates primarily established to borrow funds abroad
and relend them to their U.S. parents. In this table, unlike in the international transactions accounts, as revised
1983
in June 1992, income and interest are shown net of withholding taxes, and income, earnings, reinvested earnings,
and capital outflows are shown without a current-cost adjustment.
SURVEY OF CURRENT BUSINESS
August 1992 • 121
Table 8.—U.S. Direct Investment Abroad: Income and Its Components
[Millions of dollars]
1991
1990
Total (=
col. 2 less
col. 3 plus
col. 4)
Earnings
0)
(2)
55,117
10,230
23,651
21,236
Withholding taxes
on distributed earnings
Interest (net of withholding taxes)
Total (=
col. 8 less
col. 9 plus
col. 10)
Earnings
(7)
(8)
2,921
82
147
2,692
48,970
10,055
18,651
20,264
3,886
569
850
2,468
835
28
125
683
596
163
144
289
636
168
161
307
756
82
426
248
2,331
375
518
1,438
3,826
748
2,138
940
199
36
114
49
16,925
4,248
5,353
7,324
18,663
4,162
5,518
8,983
Latin America and Other Western Hemisphere
Petroleum
Manufacturing
Other
9,378
713
3,705
4,961
Other
Petroleum
Manufacturing
Other
U.S. par-
U.S. par-
Net
ents' receipts
ents' payments
(3)
(4)
(5)
(6)
55,077
9,763
23,831
21,482
1,610
195
969
446
1,650
662
788
200
4,570
743
936
2,892
37,954
5,928
18,298
13,728
36,184
5,552
18,313
12,319
1,281
164
741
376
3,051
541
725
1,785
Canada
Petroleum
Manufacturing
Other
4,665
708
2,549
1,408
4,394
592
2,606
1,197
325
46
200
79
Europe .. ..
Petroleum
Manufacturing
Other
29,538
4,505
13,661
11,371
27,963
4,212
13,570
10,182
3,752
715
2,087
949
All areas
Petroleum
Manufacturing
Other
Developed countries
Petroleum
..
Manufacturing
Other
Other
Petroleum
Manufacturing
Other
..
..
Developing countries
Petroleum
...
Manufacturina
Other
Interest (net of withholding taxes)
Net
U.S. par-
U.S. par-
ents' receipts
ents' payments
(9)
(10)
(11)
(12)
48,896
9,662
18,575
20,659
1,200
186
674
340
1,275
579
751
-54
4,415
665
979
2,772
3,140
86
228
2,826
30,771
5,337
13,674
11,760
29,082
5,003
13,598
10,482
969
143
549
277
2,658
477
625
1,556
3,866
543
827
2,496
1,209
66
202
941
41
5
17
18
3,075
-73
1,804
1,343
2,625
1,792
1,015
169
46
90
33
619
156
101
361
658
157
133
369
40
1
31
8
3,068
398
620
2,051
738
22
102
613
24,129
4,165
10,271
9,694
22,904
3,921
10,191
8,792
672
81
374
217
1,898
326
453
1,119
3,004
384
616
2,004
1,106
58
163
885
125
3
63
58
181
3
68
110
57
3,554
1,265
1,614
675
128
15
85
27
141
_5
52
3,567
1,245
1,599
723
71
75
204
3
78
124
63
7
7
48
329
30
228
71
-1,409
116
63
-1,588
666
161
86
419
2,075
45
23
2,007
17,882
4,558
4,977
8,348
19,509
4,508
4,977
10,024
231
43
125
63
-1,395
93
126
-1,614
533
111
152
270
1,929
18
26
1,884
11,180
721
3,829
6,630
253
21
184
47
-1,549
13
60
-1,622
470
33
61
375
2,019
20
1
1,997
9,977
866
3,424
5,687
11,640
891
3,398
7,351
174
39
94
40
-1 ,489
14
121
-1,623
407
32
134
241
1,896
18
13
1,865
7,547
3,535
1,649
2,363
7,484
3,440
1,690
2,353
76
9
44
24
140
103
3
34
196
128
25
44
57
25
22
10
7,905
3,691
1,553
2,660
7,869
3,617
1,579
2,673
58
4
31
22
93
79
5
9
126
79
18
29
33
238
230
n
8
18
11
317
304
n
13
16
3
* Less than $500,000 (±).
NOTE.—In this table, unlike in the international transactions accounts, as revised in June 1992, income and interest are shown net of withholding taxes, and income and earnings are shown without a current-cost adjustment.
Withholding taxes
on distributed earnings
n
-182
n
13
19
SURVEY OF CURRENT BUSINESS
122 • August 1992
Table 9.—U.S. Direct Investment Abroad: Royalties and License Fees and Charges for Other Services
[Millions of dollars]
1991
1990
Charges for other services J
Royalties and license fees
Net
U.S. parents' receipts
U.S. parents' payments
11,814
9
8,647
3,157
12,070
9
8,804
3,257
256
0
157
99
4,357
570
2,034
1,754
10,986
9
8,213
2,765
11,223
9
8,356
2,858
237
0
143
93
Canada
Petroleum
Manufacturing
Other
946
0
767
179
962
78
183
Europe .
Petroleum
Manufacturing
Other
7,913
(D)
5,911
(D)
Other
Petroleum
Manufacturing ..
Other
Developing countries
Petroleum
Manufacturing
Other
U.S. parents' receipts
Charges for other services!
Royalties and license fees
U.S. par-
U.S. par-
U.S. parents' payments
ents' payments
Net
ents' receipts
9,267
770
4,313
4,184
4,910
201
2,279
2,431
12,648
9
9,165
3,474
12,826
9
9,207
3,610
177
3,296
382
1,315
1,599
7,467
508
3,519
3,439
4,171
126
2,204
1,841
11,610
8
8,585
3,017
11,783
8
8,625
3,150
174
16
0
12
4
1,415
34
(D)
(°)
1,955
157
1,174
624
540
123
(DD)
()
965
981
78
190
78
202
8,097
(D)
6,035
(D)
184
0
124
60
2,337
327
824
1,186
4,956
330
2,189
2,437
2,619
3
1,366
1,251
8,526
5
6,219
2,302
2,127
(D)
1,534
(D)
2,164
(D)
1,542
(D)
37
0
8
29
-456
21
556
21
156
379
1,012
0
(D)
(°)
828
1
435
393
847
1
448
398
19
0
14
5
^
n
1,711
218
793
700
616
719
Latin America and Other Western Hemisphere
Petroleum
Manufacturing .
Other
315
1
192
123
325
1
198
127
10
0
6
4
61
(D)
100
(D)
486
50
130
306
424
Other
Petroleum
Manufacturing
Other
513
0
243
270
522
A
272
9
0
7
2
1,034
132
619
283
-1
0
1
-34
All areas
Petroleum
Manufacturing
Other
.. .
Developed countries
Petroleum
Manufacturing
Other ...
International
Net
8
*D Less than $500,000 (±).
Suppressed to avoid disclosure of data of individual companies.
1. Consists of service charges, rentals for the use of tangible property, and film and television tape rentals. In
1991, U.S. parents' receipts of service charges were $8,821 million, receipts of rentals for the use of tangible prop-
U.S. parents' receipts
Net
U.S. parents' payments
4,451
635
1,670
2,146
9,614
824
4,451
4,338
5,163
189
2,781
2,192
2,999
376
914
1,709
7,471
494
3,628
3,349
4,472
119
2,714
1,640
16
0
4
12
1,390
10
n
519
111
(D)
1,909
121
1,194
594
8,613
5
6,251
2,357
88
2,098
350
473
1,274
4,957
357
2,288
2,312
2,859
6
1,815
1,037
2,119
2
1,591
525
2,189
2
1,596
591
70
0
4
66
606
17
146
443
1,094
2
(D)
(D)
1,039
1
581
457
1,042
1
582
460
3
0
1
2
1,506
256
756
495
2,040
282
823
934
534
27
68
440
3
()
434
1
290
143
435
1
290
144
2
0
1
1
297
(D)
118
(D)
654
78
142
434
357
(D)
24
(D)
1,225
169
663
393
191
37
44
110
607
2
0
1,209
291
314
•2
n
315
638
(D)
1,385
204
681
501
176
(D)
43
(D)
89
123
0
0
0
-54
103
157
B
(D)
D
605
n
n .
42
135
n
40
133
n
32
55
£
-408
•5
n
n
n
(D)
erty were $290 million, and receipts of film and television tape rentals were $503 million; U.S. parents' payments
were $5,056 million, $106 million, and less than $500 thousand, respectively.
NOTE—In this table, unlike in the international transactions accounts, as revised in June 1992, royalties and license fees and charges for other services are shown net of withholding taxes.
Table 10.—U.S. Direct Investment Abroad: Position on a Historical-Cost Basis and Balance of Payments Flows, 1982-91
[Millions of dollars]
1982
1983
1984
1985
207 752
207,203
211,480
230 250
259,800
314307
335,893
424,086
450,196
1,078
9708
4,806
-13436
6,686
4903
13,453
-11,669
11,649
1,347
17,276
-6,973
12,724
-2210
13,665
1 269
17,706
8106
28,980
4635
17,650
6696
17,871
-6112
13.319
10,665
30,167
-1 755
15,950
15,971
34,111
7,455
20,886
5,770
28,197
11,650
18,949
-2,402
24,828
26,813
30,046
27,858
29,927
38,523
50,429
53,800
55,117
48,970
Royalties and license fees net receipts
U S parents' receipts
U S parents' payments
.
3507
3585
78
3,597
3718
121
3,921
4,016
95
4,096
5,412
49??
6,889
7039
8,333
8455
9,158
9299
11,814
12,070
12,648
12,826
126
106
150
122
141
256
177
Charges for other services net receipts l
U S parents' receipts
U S parents' payments
..
1,816
4,517
2,700
2,532
4,544
2,012
2,483
4,484
2,000
2,490
4,752
2,262
3,024
5,375
2,351
2,446
5,340
2,893
3,091
6,363
3,271
4,341
8,363
4,022
4,357
9,267
4,910
4,451
9,614
5,163
Direct investment position
Capital outflows (inflows(-))
Equity capital
Reinvested earnings
Intercompany debt
Income
. ..
. ...
...
1. Consists of service charges, rentals for the use of tangible property, and film and television tape rentals.
NOTE.—In this table, unlike in the international transactions accounts, as revised in June 1992, income, royalties
1986
551
9,048
5518
1987
1988
1989
372419
1990
1991
and license fees, and charges for other services are shown net of withholding taxes, and capital outflows, reinvested
earnings, and income are shown without a current-cost adjustment.
SURVEY OF CURRENT BUSINESS
August 1992 • 123
Table 11.1.—U.S. Direct Investment Position Abroad on a Historical-Cost Basis, 1989
[Millions of dollars]
Manufacturing
All industries
Petroleum
All countries
372,419
51,393
Developed countries
278,309
35,432
Canada
63,919
11,364
30,213
Europe
179,839
17,484
70,258
149,465
7,797
1,240
15,143
23,261
240
5,492
9,970
1,232
17,264
493
6,177
61,156
13,771
246
(D)
943
2,433
-'a')
403
5
929
60
67
8,540
68,361
4,011
270
9,381
13,811
79
4,270
6,319
755
5,342
242
4,011
19,869
30,373
708
476
3,459
. 1,157
23,488
310
775
3,713
165
(D)
2,841
(°)
(D)
112
62
Japan
18,800
Australia, New Zealand, and South Africa
Australia
New Zealand
South Africa
15,752
13,728
1,114
910
90,374
European Communities (12)
Belgium
Denmark
France
Germany, Federal Republic of
Greece
Ireland
Italy
Luxembourg
Netherlands
Portugal
Spain
United Kingdom
.
Other Europe
Austria
Finland
Norway
Sweden
... .
Switzerland
Turkey
Other
....
Developing countries
Primary
and
fabricated
metals
Machinery,
except
electrical
Electric
and
electronic
equipment
Transportation
equipment
Other
manufacturing
Wholesale
trade
Banking
Finance
(except
banking),
insurance,
and real
estate
Other
industries
Food
and
kindred
products
Chemicals and
allied '
products
144,679
13,069
33,485
8,510
25,531
12,113
20,621
31,351
35,319
19,077
96,828
9,222
15,900
115,444
10,013
26,751
6,567
21,733
7,743
17,210
25,428
28,861
9,751
70,970
7,295
10,557
1,989
6,234
2,772
3,154
1,932
6,638
7,494
3,730
953
10,986
1,697
4,975
7,033
15,710
3,322
15,303
4,497
8,383
16,010
19,881
7,588
56,817
4,871
2,941
6,812
302
177
549
943
3
546
311
0
536
37
698
2,709
15,409
2,196
(D)
2,293
1,858
62
1,308
1,899
(D)
1,857
10
603
3,118
3,273
109
23
165
1,051
0
130
161
(D)
396
(D)
293
916
14,529
237
4,327
220
3
386
564
6
423
312
8,375
(°)Q
5,649
189
35
197
1,424
43
7
277
242
177
30
703
2,325
42,990
1,393
240
1,311
3,286
D
1,220
910
550
962
49
11,920
1,638
482
2,654
1,209
56
9
1,476
6
942
107
905
2,437
3,918
284
(D)
260
297
29
35
217
0
979
D
( )
332
1,408
2,856
35
$
15,635
(D)
38
2,167
1,897
120
28
79
764
812
76
17
221
24
0
2
50
(D)
H
0
301
-14
5
13
57
209
31
0
48
4
774
63
3
23
1,939
41
1,471
34
(D)
13,827
21
0
137
66
13,352
0
252
953
16
-1
16
11
(D)
85
21
-3
4
5
39
0
7,961
324
353
362
257
6,520
67
79
3,684
9,092
310
2,304
167
2,683
1,178
1,662
788
3,584
142
1,613
405
278
2,899
2,385
(D)
(D)
5,881
5,191
270
420
680
677
-13
16
2,503
2,266
123
114
306
199
(D)
(D)
593
510
14
69
136
126
10
0
528
474
(D)
(D)
1,136
940
90
106
1,666
1,406
194
66
1,067
(D)
(D)
0
1,554
1,299
207
48
321
282
28
11
2,364
(D)
13,238
29,236
3,056
6,735
1,943
3,798
4,369
3,412
5,923
6,458
9,327
25,858
1,927
4,330
Total
fl11
43
(D)
0
n
3,194
3,128
0
627
2,669
4
789
8
3,142
s
fl
£
(D)
184
1,366
170
19
0
(D)
D
( )
128
12
0
n
(D)
0
16
56
906
2,902
(
i
0
41
0
-9
(D)
{
°l
n
5,716
375
(D)
20
41
34
S
Q(°)
Services
()
1,216
1,043
224
8,629
n
27
25,590
M
11
n
398
800
(D)
-6
235
0
266
8
131
988
n
n
8
62,485
4,096
21,479
2,486
4,770
1,696
2,788
1,450
3,079
5,210
2,752
6,611
23,030
1,533
2,984
South America
Argentina
Brazil
Chile
Colombia
Ecuador
Peru
Venezuela
Other
23,045
2,604
14,733
1,075
1,659
382
766
1,362
463
2,270
452
556
65
386
125
329
193
163
14,409
1,405^
10,934
196
663
154
70
897
90
1,635
319
778
39
180
28
10
218
63
2,735
321
1,859
133
181
15
^24
181
21
1,266
99
1,192
2,491
230
2,259
0
0
0
0
-4
5
998
40
838
1,700
110
1,485
3,585
286
2,523
8
i°|
816
140
325
60
(D)
42
65
112
(D)
1,322
295
702
264
12
1,795
177
1,218
311
1,049
69
836
39
12
1,385
65
162
140
(D)
P
( )
19
-2
Central America
Mexico
Panama
Other
14,920
7,341
6,744
835
1,083
79
809
195
6,590
5,861
305
424
799
500
95
203
1,803
1,535
173
95
318
280
297
297
0
0
893
482
398
12
150
(D)
104
(D)
Other Western Hemisphere
Bahamas
Bermuda
Jamaica
Netherlands Antilles
Trinidad and Tobago
United Kingdom Islands Caribbean
Other
24,520
3,776
19,954
352
-6,729
514
5,388
1,264
742
184
52
232
(D20
(D81
112
0
0
93
(D)
0
0
(D)
'«30
1,044
282
476
74
5,139
1,902
(D)
9
(D)
298
480
50
0
207
28
96
(D)
(D)
3,921
2,115
1,750
244
121
1,806
196
354
1,256
3,000
1,747
1,423
238
86
1,253
54
346
853
275
61
36
0
25
214
0
53
161
98
1
1
1
0
0
0
0
0
0
3,973
725
1,971
614
663
1,693
(D)
747
299
422
11
15
19,995
5,873
427
2,850
1,105
1,485
2,549
2,003
1,661
r-,273
769
4,448
182
7
2,422
347
132
487
7
(D)
643
(D)
6,734
929
337
117
620
740
1,479
900
1,142
357
112
International
3,737
2,724
Addendum—OPEC!
7,889
4,309
Latin America and Other Western Hemisphere
Other Africa
Saharan
Egypt
Libya
Other
Sub-Saharan
Liberia
Nigeria
Other
;.
.
Middle East
Israel
Saudi Arabia
United Arab Emirates
Other
Other Asia and Pacific
Hona Kona
India
Indonesia
Malaysia
Philippines
Singapore
South Korea
Taiwan
Thailand
Other
.
-181
(D)
21
8
&
523
^
(D)
80
0
16
45
111
(DD)
( )
0
80'
n0
n
n0
D0
46
(D)
()
(*)0
0
0
n
n
389
27
(D)
(D)
(D)
{
1°)
(D)
73
1
n
(D)
TD
({D)
0
l
8
0
{0
'l
0
9
26
0
2
^
(D
983^
n6
141
(D)
12
(D)
n
1,465
164
153
68
37
283
102
142
399
57
60
21
2
(D)
24
(D)
0
215
99
14
17
-3
510
(D)
101
(D)
2
258
652
103
24
525
(D)
(
i
260
10
83
27
27
18
-1
74
0
0
41
-2
(D)
314
2
440
422
0
18
1,379
1,379
0
0
1,555
1,449
13
0
0
0
0
0
(D)
(D)
0
0
0
0
0
0
0
0
71
30
4
4
0
27
0
(D)
(D)
3
10
7
0
2
-7
0
0
-7
249
240
9
0
0
fl6
D
a(°)
fl76
P)58
(D)
(D)
5,248
236
4,995
17
203
130
35
38
752
(D)
97
(D)
281
(°)
131
35
75
848
(D)
(D)
254
15,986
1,304
19,098
4
-6,879
4
2,195
261
166
-3
-3
0
0
169
31
0
138
107
95
88
(°)
0
6
-20
fl81
( )
n
41
88
96
96
0
1
-9
3
-64
53
0
0
0
0
0
76
(D)
(D)
-3
(D)
330
(D)
(D)
48
15
114
8
(D)
-6
(D)
798
78
660
(D)
(D)
40
32
109
-16
-86
250
(D)
221
(D)
15
2,640
216
9
-6
489
93
798
332
483
211
15
330
0
8
0
0
0
38
D
( )
54
0
(D)
650
198
56
2,514
700
80
32
-9
313
118
891
223
120
46
1,864
1,577
1
51
36
28
80
45
40
(D)
(°)
248
97
0
3
20
110
55
30
(D)
3,243
2,145
1
33
71
118
283
130
237
111
112
944
243
2
192
(D)
100
49
24
99
42
477
285
181
819
105
o.
8
n0
13,
0
9
0
49
-13
1
(D)
0
n
-14
886
n
24
77
111
133
51
(D)
D
n
2,977
n
56
15
<3
<3( )
D
n
54
53
6
-1
10
n
n
(D8)
44
(D)
152
67
P)
( )
P)85
D
75
(D)
(D)
P)
P)
251
1,013
1,656
* Less than $500,000 (±).
Suppressed to avoid disclosure of data of individual companies.
1. OPEC is the Organization of Petroleum Exporting Countries. Its members are Algeria, Ecuador, Gabon, IndoD
^
(D)
8
1
(D)
-157
nesia, Iran, Iraq, Kuwait, Libya, Nigeria, Qatar, Saudi Arabia, United Arab Emirates, and Venezuela.
534
SURVEY OF CURRENT BUSINESS
124 • August 1992
Table 11.2.—U.S. Direct Investment Position Abroad on a Historical-Cost Basis, 1990
[Millions of dollars]
Manufacturing
Machinery,
except
electrical
Electric
and
electronic
equipment
Transportation
equipment
Banking
Finance
(except
banking),
insurance,
and real
estate
Services
Food
and
kindred
products
Chemicals and
allied
products
Primary
and
fabricated
metals
164,466
15,906
37,427
10,410
28,638
13,900
21,688
36,499
38,217
19,783
112,374
11,401
20,888
40,810
131,567
12,278
29,762
8,171
24,373
8,892
18,042
30,049
31,521
10,474
79,674
9,411
14,699
67,033
11,388
31,790
2,254
6,328
3,220
2,749
2,102
6,872
8,265
4,138
1,032
11,378
1,927
5,379
211,194
22,475
83,333
8,896
18,252
4,260
18,076
5,440
8,745
19,664
21,751
8,110
64,434
6,820
4,271
177,642
9,050
1,597
18,874
27,259
288
6,880
13,117
1,390
22,658
598
7,704
68,224
17,732
368
8,578
353
188
706
1,171
3
617
594
0
664
80
944
3,256
17,885
2,188
31
2,897
2,174
73
1,587
2,344
(D)
2,204
(D)
725
3,477
4,161
154
32
366
1,314
0
130
184
22
17,046
(D)
0
3,569
3,819
0
743
3,647
6
1,026
(DD)
()
3,108
5,014
217
-1
483
677
5
424
380
(D)
934
(D)
167
1,670
8,717
(D)
0
666
4,058
0
55
184
19,106
899
30
2,651
3,062
5
1,476
1,109
(D)
1,433
40
(D)
7,058
13,308
2,042
537
3,033
1,456
71
(D)
1,749
(D)
1,091
111
1,017
2,167
6,413
(DD)
( )
157
1,520
81
4
361
301
149
(D)
879
2,704
49,653
2,107
295
2,198
3,831
(D)
1,531
1,016
235
11,203
5,954
196
98
549
279
4,073
2,901
14
-41
703
22
1,541
(D)
116
10,598
80,508
4,129
280
11,338
16,275
86
5,032
8,442
814
6,801
292
5,124
21,893
33,552
889
551
3,815
1,600
25,199
494
1,004
4,743
(DD)
( )
3,186
16
(D)
173
48
2,825
165
78
124
1,120
1,087
117
133
318
(D)
0
367
-A
3
14
65
249
41
100
4
(D)
1,029
62
3
27
426
(D)
0
28
14,780
0
n
n
(D)
166
17
(D)
54
0
(DD)
( )
8,444
320
387
352
367
6,805
106
106
1,697
42
159
557
23
(D)
62
94
229
26
(D)
japan
20,997
3,800
9,910
394
2,513
213
2,936
1,228
1,819
806
Australia New Zealand and South Africa
Australia
New Zealand
South Africa
...
18,932
14,846
3,131
956
3,146
2,659
(DD)
()
6,534
5,764
298
472
733
726
-14
21
2,669
2,421
120
128
478
341
(D)
n
612
519
15
78
122
112
(DD)
( )
606
553
(DD)
()
1,314
1,092
95
126
102,360
13,643
32,900
3,628
7,664
2,238
4,265
5,008
3,646
71,593
4,140
23,733
2,991
5,401
1,967
2,934
1,501
3,325
South America
Argentina
Brazil
Chile
Colombia
Ecuador
Peru
Venezuela
Other
23,760
2,956
14,918
1,368
1,728
387
410
1,490
503
2,099
438
.695
(DD)
( )
121
-18
202
174
15,026
1,676
11,021
275
747
157
78
973
97
1,731
345
830
42
201
25
14
203
69
3,146
447
2,077
142
199
16
27
215
24
1,321
110
1,202
-141
(D)
18
(D)
82
2,550
321
2,225
0
(D)
0
0
-2
(D)
882
52
676
(DD)
()
18
-1
87
0
1,696
51
1,497
(DD)
( )
Central America
Mexico
Panama
Other
17,719
9,398
7,409
912
1,144
80
843
220
7,913
7,196
272
446
1,202
895
93
214
1,890
1,648
138
104
374
327
384
384
0
0
Other Western Hemisphere
Bahamas
Bermuda
Jamaica
Netherlands Antilles
Trinidad and Tobago .
United Kingdom Islands Caribbean
Other
30,113
3,309
21,737
604
-2,229
508
4,800
1,384
898
244
-58
(D)
793
60
0
442
38
127
19
107
58
365
°l
T
155
<20
T1
(D)
109
(D)
20
273
0
0
254
(D)
0
D0
Other Africa
Saharan .
Egypt .
Libya ..
Other .
Sub-Saharan
Liberia
Nigeria
Other .
3,905
1,849
1,465
240
144
2,056
193
161
1,702
2,914
1,453
1,127
230
96
1,461
56
166
1,239
327
72
44
0
28
255
0
67
188
68
16
(D)
0
(D)
52
0
(DD)
()
113
(D)
(D)
0
100
D
1
1
1
Middle East
Israel
Saudi Arabia
United Arab Emirates
Other
3,973
756
1,981
519
717
1,476
(D)
84
(D)
886
907
304
579
13
12
Other Asia and Pacific
Hong Kong
India
Indonesia
Malaysia .
Philippines
Singapore
South Korea
Taiwan ...
Thailand .
Other
22,890
6,187
513
3,226
1,384
1,629
3,385
2,178
2,014
1,585
788
5,114
221
11
2,662
425
149
734
7
-9
718
196
International
3,570
2,504
Addendum—OPEC2
8,470
4,383
All industries
Petroleum
Total
All countries
424,086
56,957
Developed countries
318,156
Canada
Europo
European Communities (12)
Belgium
Denmark
France
Germany '
Greece
Ireland
Italy
Luxembourg
Netherlands .
Portugal
Spain
United Kingdom
Other Europe
Austria
Finland
Norway
Sweden ....
Switzerland
Turkey
Other
Developing countries
Latin America and Other Western Hemisphere
8
8
a
n
52
(D)
22
0
(
19
(D)
1,136
11
(D)
n
8
()
0
0
n0
0
n
(°)
fl
( )
D
1,352
2,188
T0
n
24
n
1,149
197
29
-6
(Dl
(Dl
88
222
2,343
328
425
1,110
(D)
(D)
0
1,519
1,215
250
54
336
300
23
14
4,625
2,08»
(D)
6,450
6,696
9,309
32,700
1,989
5,123
5,614
2,684
6,387
29,440
1,632
3,577
797
125
326
67
19
35
73
117
34
1,474
385
688
332
(D)
(D)
(D)
9
64
1,971
203
1,202
427
37
(D)
1,017
70
826
(D)
13
1,3715
58
159
140
0
73
-2
3,701
350
2,513
180
253
78
(D)
315
(D)
3
fl45
-3
4
(D)
69
132
602
581
0
21
1,629
1,629
0
0
1,833
1,731
(DD)
( )
931
508
410
12
100
39
47
14
6,089
400
5,668
21
238
149
31
57
1,305
1,025
139
141
17
0
0
0
0
0
(D)
(D)
0
0
0
0
0
0
0
0
81
956
245
464
70
(D)
4,814
1,852
(D)
9
-3
(D)
2,684
270
21,380
930
20,756
3
-2,460
6
1,966
179
377
-32
134
38
895
11
14
19
17
0
2
-6
0
0
-6
-12
2
(D)
0
(D)
-14
0
6
-20
136
51
(D)
149
-4
-4
0
0
152
38
0
115
107
93
(D)
(D)
85
(D)
(D)
42
68
106
104
0
1
-37
0
-93
56
( )
126
64
3
59
74
18
380
108
831
(D)
(D)
(D)
9
-15
61
41
-25
-91
286
(r))
22:7
(D)
43
266
106
0
2
1 ,055
330
(
l
15
0
9
0
57
n
13
145
47
(D)
5
0
5
0
0
551
(DD)
( )
0
(D)
8
0
6
0
2
27
(D)
0
(D)
0
243
241
2
0
0
0
0
0
0
0
8( )
7,933
952
385
135
768
791
1,911
975
1,315
528
173
564
(D)
163
(D)
14
9
1
17
g( )
1,303
287
113
(D)
-2
-5
748
(D)
44
(D)
n
3,221
243
9
-1
638
117
973
275
672
278
17
307
0
9
0
0
0
(D)
209
57
0
(D)
773
209
65
(D)
85
85
40
145
69
41
(°)
3,496
2,050
(D)
31
33
1
1,600
140
174
72
41
290
148
169
415
76
77
102
124
393
236
290
135
126
2,746
681
110
79
4
318
182
915
248
148
60
1,926
264
851
113
31
110
76
483
304
251
D
0
866
19
-1
8
17
D
( )
1,662
1,460
151
51
fl0
1
287
n
142
n0
n
32
0
1,425
(D)
392
2,209
fi394
3,969
0
0
0
0
0
0
(
27,191
3
(D)
998.
(D)
(°l
453
(D)
446
(D)
162!
1,462!
14,329
(*)
285
0
(DD)
( )
0
-4
(D)
( 6)
n
15
Other
industries
57
398
43
4
4
0
0
39
0
(DD)
()
D
8
48
18
n
s
-161
(
2,281
1,849
8
92
40
58
127
23
8
n
53
n
l
r!
14
D
n
n
56
66
n
8
8
941
-4
n
n
n
n
52
8
"
8
204
79
69
(D)
(D)
n
n
98
260
59
n
n
n
218
1,066
* Less than $500,000 (±).
D
Suppressed to avoid disclosure of data of individual companies.
1. In the corresponding table for 1989, this line includes only the Federal Republic of Germany. Beginning in
n
8
282
Other
manufacturing
Wholesale
trade
669
1990, it also includes the former German Democratic Republic (GDR). This change has no effect on the data because there were no affiliates of U.S. companies in the former GDR in 1989.
2. See footnote Liable 11.1.
SURVEY OF CURRENT BUSINESS
August 1992 • 125
Table 11.3.—U.S. Direct Investment Position Abroad on a Historical-Cost Basis, 1991
[Millions of dollars]
Manufacturing
All industries
Petroleum
Total
Food
and
kindred
products
Chemicals and
allied
products
Primary
and
fabricated
metals
Machinery,
except
electrical
Electric
and
electronic
equipment
Transportation
equipment
Other
manufacturing
Wholesale
trade
Banking
Finance
(except
banking),
insurance,
and real
estate
Services
Other
industries
All countries
450,196
59,160
175,413
17,093
40,2 29
10,481
29,781
15,334
23,057
39,439
43,218
18,756
117,094
13,368
23,187
Developed countries
335,433
41,229
139,082
13,274
31,5 72
8,280
25,400
9,790
18,456
32,312
35,421
8,895
83,952
11,227
15,628
Canada
68,510
10,847
32,360
2,492
6,7 19
3,325
2,726
2,364
6,350
8,384
4,388
1,047
12,208
2,206
5,455
Europe
224,554
22,829
89,090
9,437
19,2 62
4,131
19,105
6,013
9,870
21,272
24,875
6,947
67,423
8,159
5,231
188,710
8,838
1,835
20,495
32,942
291
7,450
13,825
1,455
24,711
893
7,712
68,261
17,810
294
(D)
(D)
3,621
26
159
569
15
1,822
39
40
9,540
85,664
4,002
313
11,952
20,086
101
5,258
8,730
784
7,715
437
5,436
20,851
9,060
383
214
913
1,607
(D)
618
565
0
530
(D)
734
3,387
18,8 45
3,941
157
35
346
1,295
0
156
191
29
(D)
(D)
301
998
17,878
(D)
5,539
240
-3
521
839
4
446
281
9,796
199
(D)
696
5,597
0
52
169
5,200
(D)
(D)
(D)
1,466
93
-2
137
203
112
165
904
1,813
7,258
438
5,048
(D)
-2
513
1,042
(D)
(D)
488
fl( )
16,243
2,145
616
3,769
2,008
34
(D)
2,173
(D)
1,560
132
831
2,940
51,486
1,778
306
2,170
4,289
Q6
(°)
1,435
20,606
(D)
31
2,813
3,532
(D)
1,463
1,065
(D)
1,963
42
782
7,494
35,845
1,238
418
4,248
1,693
26,443
510
1,295
5,018
(D)
(D)
3,638
(D)
836
104
54
3,426
223
53
104
1,213
1,249
282
303
378
24
0
2
60
(D)
190
4
1
1,227
53
4
38
905
216
(D)
(D)
666
8,632
603
281
339
342
6,929
(D)
(D)
1,748
42
(D)
(D)
(D)
1,091
122
(D)
15,937
1
0
T
4 18
-1
2
D
)
60
222
52
D
)
Japan
22,918
4,195
10,437
434
2.9 34
201
Australia, New Zealand, and South Africa
Australia
New Zealand
South Africa
19,451
15,627
2,809
1,015
3,359
2,828
(D)
911
899
2,6 57
2,4 00
133
123
622
460
n
7,195
6,141
558
496
,( )
(D)
n
82
111,608
15,526
36,331
3,819
8,6 57
2,201
77,342
4,339
25,687
3,107
5,9 89
South America
Argentina
Brazil
Chile
Colombia
Ecuador
Peru
Venezuela
Other
25,998
3,412
15,222
1,555
1,744
337
352
2,785
590
2,252
463
859
(D)
385
(D)
-37
262
171
15,441
1,907
11,002
188
845
169
58
1,164
108
1,825
412
794
50
224
(D)
-2
241
(D)
Central America
Mexico
Panama
Other
23,408
11,570
10,980
858
1,176
(D)
900
(D)
9,302
8,493
369
440
Other Western Hemisphere
Bahamas
Bermuda
Jamaica
Netherlands Antilles
Trinidad and Tobago
.
United Kingdom Islands Caribbean
Other
27,935
3,319
20,737
667
-3,568
526
4,706
1,549
911
272
945
67
0
510
98
(D)
European Communities (12)
Belgium
Denmark
France
Germany J
Greece
Ireland
Italy
Luxembourg
Netherlands
Portugal
Spam
United Kingdom
Other Europe
Austria
Finland
Norway
Sweden
Switzerland
Turkey
Other
Developing countries
Latin America and Other Western Hemisphere
Other Africa
Saharan
EdVDt
Libya
Other
Sub-Saharan
Liberia
Nigeria
Other
Middle East
Israel
Saudi Arabia
United Arab Emirates
Other
Other Asia and Pacific
Hong Kong
India
Indonesia
Malaysia
Philippines
Singapore
South Korea
Taiwan
. .
Thailand
Other
.
.
.
.
International
2
Addendum-QPEC
* Less than $500,000 (±).
D
Suppressed to avoid disclosure of data of individual companies.
1. See footnote 1, table 11.2.
-165
(D)
(D)
(D)
40
321
2,0 92
D
)
3,1 89
2,226
68
1,9 37
2,7 23
D
)
2,2 73
87
8 12
3,2 99
(
l
(D)
0
n
3,474
4,990
0
586
3,737
1
986
(D)
(D)
3,027
D
474
85
-2
<i1
178
17
(D)
D
1,746
1,211
73
(D)
0
0
(D)
D0
()
(D)
3
30
109
(D)
42
100
D
430
14
257
403
o-
1,754
(D)
355
2,667
n
n
(D)
2,087
720
184
308
901
(°)
-1
17
38
817
(°)
20
30
2,555
401
449
1,766
1,508
(D)
4,493
2,684
1,659
150
6,809
»)
15,432
n
-8
8
B
-5
38
( )
1.269
1,662
( )
4.851
(D)
492
143
134
10
(D)
1,229
323
(D)
1,307
1,179
57
70
870
(D)
n
575
526
(D)
(D)
n
460
(D)
(D)
15
4,381
5,544
4,601
7,127
7,797
9,862
33,142
2,141
1,874
2,811
1,379
4,299
6,229
3,381
6,838
29,888
1,741
5,467
3,2 28
4 51
2,181
80
225
16
24
225
27
1,184
83
1,133
2,385
(DD)
()
0
1,964
(°)
19
27
83
(D)
4,074
356
2,806
171
280
81
1,481
392
691
324
(D)
2,398
348
1,379
531
17
939
69
719
(°)
14
0
7
(D)
781
70
(D)
(D)
28
19
(D)
85
0
(D)
9
78
97
-3
°!
fl65
4
2,420
68
178
278
(°)
52
(D)
(D)
166
1,219
932
108
179
2,3 09
1,9 74
2 19
116
(D)
337
(D)
36
426
426
0
0
9,465
392
9,047
26
299
188
35
76
1,985
1,641
140
204
A 52
(D)
0
0
(D)
4
0
0
(D)
n0
18,026
827
19,535
3
1 -3,919
7
(D)
1,444
2,895
130
276
503
4
(D)
39
(D)
-1
81
1,063
7
(D)
fi
63
(D)
0
19
(D)
(D)
1
(D)
n
10
(D)
(D)
D
237
-5
-5
0
0
242
D
)
0
116
99
92
(D)
(D)
17
8
3
5
177
90
(D)
0
(°)
87
16
3
67
920
-12
62
36
-30
-80
365
(D)
258
297
96
0
(D)
800
290
2
220
(D)
116
49
8
D
)
0
°!
°!
26
D
370
(D)
577
553
0
24
2,335
2,335
0
0
(D)
1,936
(D)
85
1,033
681
402
-49
149
(D)
88
(D)
0
0
0
0
0
0
0
0
(D)
1,280
111
713
78
-8
20
181
184
5,208
2,030
0
21
0
0
0
0
0
(D)
(D)
(D)
10
6
0
4
D
( )
0
-5
(D)
1
11
0
0
0
0
0
0
38
5
5
0
0
34
0
(D)
(D)
21
(D)
(D)
0
2
(D)
0
5
(D)
-14
1
(D)
0
(D)
-15
0
6
-20
153
63
(D)
48
145
145
0
90
(D)
(D)
44
-97
(D)
l
30
(D)
0
°3
0
0
0
0
0
87
(D)
(D)
(D)
201
(D)
22
64
(°)
121
(D)
(D)
2
345
342
3
0
0
n
°!
825
212
(D)
4,062
2,299
(D)
88
(D)
157
(D)
(D)
22
129
141
437
346
374
162
119
2,855
721
136
71
14
300
110
987
264
173
78
2,097
1,731
-2
42
50
-63
106
86
131
21
5
88
-11
16
18
(D)
542
353
179
1,059
3
(
1
0
0
0
n0
i,S
8( )
D
347
74
44
0
31
273
0
92
181
73
18
(D)
0
(D)
55
0
(D)
(D)
4,715
718
2,317
544
1,135
1,928
(D)
(D)
472
1,245
1,192
429
746
14
5
5
0
5
0
0
)
38
25,180
6,430
533
3,458
1,440
1,672
4,313
2,392
2,470
1,787
684
5,965
342
(D)
2,869
516
168
905
(D)
9,104
950
373
206
687
952
2,619
960
1,642
492
224
634
(D)
n
206
(D)
18
11
3
19
8
30
23
(D)
0
1,538
241
109
(D)
-21
-5
1,007
7
122
9
(D)
3,782
247
331
1,S 38
163
191
98
40
3 54
148
166
c 04
82
92
561
164
1,395
286
806
298
(D)
282
0
10
0
0
0
-22
156
(D)
0
(D)
3,155
2,405
11,028
5,383
2,392
325
1,061
115
74
110
164
H
n
158
36
34
)
)
)
0
D
;i
0
51
44
D
1
)
D
6-
0
153
-2
-186
3,294
1,415
1,110
231
74
1,879
61
865
953
D
{D
1,067
164
395
87
(D)
40
109
(D)
65
4,371
1,882
1,515
238
128
2,489
177
856
1,457
889
240
(
n
1,761
1,325
425
11,028
12
(D)
28,362
n
747
<!
n
n0
15
0
(D)
0
82
n
n
97
8
n
n
fl
(D)
n
3
n
59
n
36
D
<9 )
n47
33
n
750
2. See footnote 1, table 11.1.
1,659
126 • August 1992
SURVEY OF CURRENT BUSINESS
Table 12.1.—U.S. Direct Investment Abroad: Capital Outflows, 1989
[Millions of dollars; inflows (-)]
Manufacturing
All industries
Petroleum
Total
Food
and
kindred
products
Chemicals and
allied
products
Primary
and
fabricated
metals
Machinery,
except
electrical
Electric
and
electronic
equipment
Transportation
equipment
Other
manufacturing
Wholesale
trade
Banking
Finance
(except
banking),
insurance,
and real
estate
Services
Other
industries
30,167
-6,432
13,341
-357
3,674
640
763
1,253
2,707
4,6 62
2,561
-637
19,036
823
1,675
20,528
-5,412
8,722
-921
2,583
-14
702
549
1,983
3,840
1,915
-765
14,199
824
1,043
474
-2,606
3,288
134
314
1
-17
330
3,167
293
-575
-79
18
18,012
-2,876
4,127
-1,644
2,129
768
307
843
1,054
6 70
1,729
-783
14,415
911
489
17,371
498
-30
1,205
996
-11
907
554
75
1,824
63
863
10,427
-1,567
50
(D)
19
-98
(D)
-19
-1,700
-1
1
2,123
281
(D)
29
584
7
393
111
(D)
243
9
92
395
766
-14
(D)
33
558
0
9
27
(D)
-23
(D)
53
132
144
39
(D)
190
847
-5
-24
138
321
-2
-42
-44
(D)
554
(D)
19
-66
1,096
(D)
0
120
6 86
D
)
542
-98
6
357
149
23
-1
232
1
-559
-131
13,712
284
9
460
1,002
804
75
(D)
106
-9
(D)
79
15
0
415
(D)
478
-1
(D)
-S
-872
3,962
318
-22
500
-14
7
569
188
13
944
29
718
713
641
-13
23
-1,115
-40
1,788
35
-37
-1,308
12
(D)
-1,130
(D)
(D)
13
19
166
52
3
13
96
22
2
-22
56
21
0
0
10
(D)
(
2
2
0
(D)
227
79
388
-16
-8
1,814
1,842
227
-254
-8
113
(°)
(D)
918
956
25
-63
605
611
6
-12
148
172
-4
-20
9,338
-1,027
4,619
564
1,091
9,011
-297
3,993
439
754
South America
Argentina
Brazil
Chile
Colombia
Ecuador
Peru
Venezuela
Other
2,845
285
2,424
471
-149
20
37
10
-80
-84
-79
-12
38
2,720
188
2,182
263
124
7
4
-58
10
148
28
79
2
21
2
-1
8
7
Central America
Mexico
Panama
Other
976
1,352
52
7
3
41
976
905
47
24
Other Western Hemisphere
Bahamas
Bermuda
Jamaica
...
Netherlands Antilles
Trinidad and Tobago
United Kingdom Islands Caribbean
Other
5,189
65
-199
-819
-314
All countries
Developed countries
.. ..
...
Canada
:..
Europe
European Communities (12)
Belgium
Denmark
France
Germany Federal Republic of . .
Greece
Ireland
Italy
Luxembourg
Netherlands
Portugal
Spain
United Kingdom
Other Europe
Austria
Finland
Norway . ...
Sweden
Switzerland
Turkey
Other
.
.
..
Japan
Australia New Zealand and South Africa
Australia
New Zealand
South Africa
Developing countries
Latin America and Other Western Hemisphere
-129
-74
-96
-95
58
-414
38
.
-153
2
-394
-4
320
4,494
26
951
152
8
Other Africa
Saharan
Egypt
Libya .
Other
Sub-Saharan
Liberia
Nigeria
Other
-318
-39
103
78
-9
35
-290
-204
-229
Middle East
Israel
Saudi Arabia
United Arab Emirates
Other
-134
-415
Other Asia and Pacific
Hona Konq .
. .
India
Indonesia . .
...
Malaysia
Philippines
Singapore
South Korea
Taiwan
....
Thailand
Other
136
101
-7
42
-454
39
17
73
-16
-208
..
International
Addendum—OPEC l
* Less than $500,000 (±).
D
Suppressed to avoid disclosure of data of individual companies.
1. See footnote 1,table 11.1.
779
425
78
111
-27
-28
-255
201
37
109
129
302
-317
68
-142
3
84
D
( )
-209
-28
(D)
-275
-200
-2
77
-96
-8-1
(D)
36
(D)
-585
118
(D)
41
-51
0
96
n
90
-1,414
1
rj
10
-14
(D)
0
-640
n
12
(D0)
-712
0
64
262
(D)
80
(D)
fi
163
21
(D)
6
-4
(D)
0
1
-70
fl
5 76
D
)
D
)
97
48
51
-496
137
-2
-94
-125
-11
-5
-13
17
2
7
107
n
284
73
43
1,343
(D)
(D)
347
1,493
D)
30^
10
96
264
-311
10,208
120
-41
(D)
0
0
15
D
)
D
)
1,187
-62
17
2
26
1,193
17
-5
-224
703
-7
0
22
12
674
0
107
1
-152
-321
s 9 3
n
fl
2
0
D
16
D
)
1
-11
(D)
-1
(D)
-183
1
(D)
327
-32
-62
32
24
22
(D)
(D)
600
(°)
4,837
-1
336
5,137
-71
-44
16
-69
14
167
160
17
53
8
44
46
56
14
-24
654
61
704
723
8 22
646
624
367
347
753
08
316
404
16
376
6
37
-3
-8
-22
3
346
19
156
(DD)
( )
334
77
254
293
1
275
555
3
614
640
44
4 28
R
16
36
-49
26
374
5
247
138
(D)
14
-1
0
2
1
-1
0
°!
°!
38
112
21
69
9
(D)
-9
11
(D)
fl
fl
8
9
n
285
263
17
5
292
259
26
7
52
45
32
32
0
0
50
47
0
3
198
198
0
0
41
103
-32
-30
25
(D)
23
(D)
297
9
0
295
3
-14
D
( )
(D)
7
(D)
0
3
58
(D)
0
60
D
( )
-16
0
3
227
0
0
229
D
( )
0
0
(D)
n0
4
0
0
0
0
0
(D)
(D)
0
0
0
0
0
0
0
0
26
2
3
0
-1
24
0
-4
27
12
(D)
(D)
0
(D)
D
( )
0
D0
3
(D)
(D)
0
1
-1
-1
0
0
1
()
-3
(D)
14
(D)
0
0
(D)
D
( )
D0
204
49
158
1
-3
0
0
0
0
0
156
3
(D)
(D)
(D)
395
324
37
16
72
72
112
n
178
16
12
11
7
38
-17
38
53
11
10
14
139
-142
88
-106
21
13
n1
0
(D)
%
36
-5
16
8
6
fl0
(D)
(D)
8
n
"o
0
0
0
<3
0
8
0
0
0
0
0
0
()
(D)
-6
(
("i°)
21
q
(D)
0
4
-1
(
°4
n0
2
( )
D0
D
( 0)
-308
72
11
10
3
n
-140
(
-2 S
n
2;
0
8
8
0
-97
n
n
<10
1
0
0
1
n
67
61
a1
0
0
3
0
1
0
-2
163
23
53
5
27
203
(D)
(D)
0
-72
-207
-248
-342
-147
182
-4
-247
197
-440
-4
5,009
317
-566
D
?
( )
4,489
29
26
107
-16
794
(D)
-5
(D)
(D)
0
(D)
D
( )
0
D
)
-3
14
8
D
(
)
-
-65
-6
-6
0
-141
( )
6
(D)
D
( )
(D)
-59
1
-57
-3
-140
2
-9
56
(D)
q
fl9
-17
(D)
325
51
2
(D)
-19
14
112
77
70
36
(D)
143
-10
40
31
-4
33
50
43
7
0
0
0
0
0
0
0
306
128
(D)
-3
42
17
21
6
97
-5
(D)
-31
0
(D)
0
0
-34
-1
(D)
-9
0
(D)
1 17
58
10
3
-96
38
8
0
910
1
19
5
1
(D)
n
(D)
D
8
n
-166
161
44
16
-3
n
-1
-1
0
0
22
0
-161
7
-49
64
(D)
(D)
-166
101
-1
4
11
-150
-30
-120
n
(°)
139
-185
8
6
21
4
(D)
R
5
n
-5
-20
8
7
135
(D)
-22
(°)
-23
(D)
-12
1
-22
(D)
189
1
n
19
18
16
(D)
:D
( )
n
n
-^
1
(D)
-132
11
8 -%8
?n
14
(D)
(D)
5
-5
11
6
-7
18
(D)
47
35
0
311
126
2
(D)
(D)
33
-1
8n
n
-3
D
( )
n
n
-2
(D)
181
53
18
-48
(D)
D
()
{•>)
296
6
-487
11
1
-3
-1
(°)
1
n
(D)
432
-303
214
0
11
1
3
304
<ri
25
18
9
-2
291
15
(D)
92
(D)
n
103
81
2
21
6
-148
-141
n
-20
-143
121
10
14
6
21
NOTE.—In this table, unlike in the international transactions accounts, as revised in June 1992, capital outflows
are shown without a current-cost adjustment.
August 1992 • 127
SURVEY OF CURRENT BUSINESS
Table 12.2.—U.S. Direct Investment Abroad: Capital Outflows, 1990
[Millions of dollars; inflows H]
Manufacturing
All industries
Petroleum
Total
Food
and
kindred
products
Chemicals and
allied
products
Primary
and
fabricated
metals
Machinery,
except
electrical
Electric
and
electronic
equipment
1,212
-1,967
13,442
1,900
4,144
841
-1,979
6,641
1,701
3,262
203
694
187
84
703
160
330
83
-936
1,808
397
-1,856
5,320
1,529
798
125
-23
-7
100
16
-1
3
-16
(D)
61.
(D)
-29
-49
-959
1,684
(D)
1
175
(D)
-2
210
28
(D)
288
-6
(D)
708
-66
228
33
156
94
15
(D)
105
(D)
139
-653
95
175
18
355
251
(D)
267
-69
-44
1,388
(D)
-22
2,226
1,740
-67
703
(D)
5,225
-211
2,468
1,426
950
952
995
1,401
1,073
552
326
Canada
2,894
134
1,297
297
-3
404
-450
152
Europe
14,280
3,5 28
4,564
657
1,401
612
939
European Communities (12)
Belgium
Denmark
France
Germany '
Greece
Ireland
Italy
Luxembourg
Netherlands
Portugal
Spain
United Kingdom
9,443
434
266
1,466
1,536
24
1,209
1,550
3,6 77
119
D
)
3,947
-19
-5
735
942
8
625
1,213
658
28
_-j
102
131
16
5 86
D
)
42
2,3 30
554
30
5
157
228
0
3
-4
(D)
(D)
(D)
-21
103
744
(DD)
()
29
285
0
31
775
-112
1,390
37
(D)
205
73
12
286
216
(D)
327
(D)
-28
241
(DD)
()
-506
Other Europe
Austria
Finland
Norway
Sweden
Switzerland
Turkey
Other
4,836
25
10
12
7
,-8
58
-1
195
-5
3,206
27
443
-606
-108
937
4
253
-638
8
221
4,496
142
215
-150
D
)
D
)
-283
D
)
D
)
64
14
617
31
32
30
181
172
14
158
-1
(D)
0
(D)
-63
(D)
836
-142
221
,68
^
-49
2,802
876
1,878
48
2 51
2 43
-27
94
52
38
)
495
532
-93
55
13,607
8 20
4,563
467
10,727
175
3,321
2,165
366
1,368
325
83
-8
148
44
34
-44
163
D
)
D
)
17
-135
10
10
1,536
353
831
74
150
2
8
111
7
Central America
Mexico
Panama
Other
2,771
2,035
679
57
41
1
29
11
Other Western Hemisphere
Bahamas
Bermuda
Jamaica
....
Netherlands Antilles
Trinidad and Tobago .
United Kingdom Islands, Caribbean
Other
. . .
5,791
168
60
122
Japan
-272
.
Australia, New Zealand and South Africa
Australia
New Zealand
South Africa
Developing countries
Latin America and Other Western Hemisphere
South America
Argentina
Brazil
Chile
Colombia
Ecuador
Peru
Venezuela
Other
...
...
..
..
-162
-129
.
-544
. . .
Other Africa
Saharan
Egypt
Libya
Other
Sub-Saharan
Liberia
Nigeria
Other
Middle East
Israel
Saudi Arabia
United Arab Emirates
Other
Other Asia and Pacific
Hong Kong
India
Indonesia
Malaysia
Philippines
Singapore
South Korea
Taiwan
Thailand
Other
.
1,217
270
4,853
-8
133
-231
-235
-251
-4
20
4
-4
-276
284
..
...
...
1
°!9
—2 70
—2 62
-2 63
-8
9
-8
2
-2 52
2 42
990
371
35
642
895
-97
5
297
9
202
(°)
(D)
557
86
349
(D)
(D)
0
63
337
189
122
19
70
18
(D)
127
139
14
0
(D)
0
0
2
(D)
1,456
1,445
-19
30
401
375
14
12
144
169
-36
12
54
46
329
9
0
256
8
30
(D)
(D)
9
(D)
0
2
141
44
12
9
0
3
32
0
13
20
n
D0
()
n
90
s
<1
1
161
0
0
160
TD0
()
80
0
fl0
80
(°)D
()
nD
()
n
(b)
1,031
-28
(D)
21
(°)
64
4
9
1
154
-23
23
5
5
45
47
31
-4
18
7
3
182
51
22
140
94
445
98
111
173
33
n
(D)
2
(D)
0
0
e 15
-136
-1i
(DD)
( 0)
17
2,547
194
66
376
258
169
621
272
199
299
93
1,055
661
747
164
Addendum—OPEC2
626
462
66
334
10
35
1
-5
18
3
2
0
2
0
0
9
-70
24
-75
-19
67
30
14
5
33
-3
-4
-14
6
(
fl-3
$
(DD)
()
-1
-1
n0
0
15
-123
8
R
2
(D
r]
(D)
0
(D)
()
1
1
0
n
8
-7
0
0
0
0
0
0
0
3
579
22
9
0
°!
(D0)
()
4
7
3
64
40
n
1
0
0
0
D0
n
i
9
(D)
(D
q
s
-15
7
-5
-9
(DD)
( )
3
145
24
178
-47
186
65
2
-4
,581
79
1
100
D
( )
11
10
10
0
0
1
0
0
94
-10
11
(D)
12
10
11
38
5
11
D
( )
(D)
196
-95
-38
-17
-6
(D
<eD5
34
1
-19
17 , 2,153
21
(D)
-6
2
346
14
154
146
(D)
(D)
(D)
36
14
0
0
4
0
1
0
10
i)
-5
6,427
0
0
0
0
0
0
0
0
D
667
21
4
0
0
0
0
0
0
0
10
D0
9
8
151
51
9
83
(*)
0
0
0
0
8
8n
6
1
11
-12
0
0
0
0
0
0
n
102
-17
115
11
(D)
-6
8
9
D
( )
323
324
D
)
D
)
11
13
5,254
840
n
n
52^
5
n
(D
8n
D
( )
-139
n
n
-149
9
213
(D)
n
-31
(D)
n
n
(D)
857
52
802
3
30
8
2
19
527
(D)
26
(D)
5,224
87
(D)
-320
(°)
(D)
1,101
(*)
4,775
3
28
-94
-38
6
7
0
_•]
-45
-1
-38
-7
-20
-1
1
0
0
19
4
0
-23
-231
-10
-240
30
nD
()
(D)
n
306
18
(D)
(D)
27
9
60
112
43
21
15
39
-85
19
31
5
-30
-58
111
19
21
8
364
249
-2
134
-59
-6
26
(D)
<D)
23
40
104
!
8
(°)
(D)
(D)
n
fl
3
(D)
n
8
(D)
2
8n
-14
29
-27
-10
5
17
20
0
-1
(")
9
n
69
n
(DD)
()
n
n
(D)
45
12
a( )
D
33
11
(D)
(°)
39
(
°)
(D)
29
174
89
(D)
69
(D)
-42
8
(°)
8( )
n
(75DJ
-68
131
D
43
-3 51
5 22
95
1
-4
D
( )
199
345
345
0
0
i:!
182
6,802
128
125
0
3
8
3
-3
8
202
(D)
180
(D)
u
61
61
0
0
0
2
n
(°)
28
12
0
n0
n0
(D)
-24
n
115
-32
(D)
310
153
0
409
(D)
45
749
-49
-97
42
6
D
)
35
D
)
208
1
14
(D)
-20
-2
229
(D)
-83
(D)
(D)
«
-212
327
149
127
2
21
477
n
167
-1,203
-3
(D)
-2
(D)
-1,242
18
(D)
-44
8
-155
463
-54
-2
8
69
397
29
16
110
112
398
8
n
(13D)
16
1
8
28
-490
245
353
5
124
-175
-514
17
-17
(D)
(D)
1,067
-126
23
(D)
0
0
11
D0
n
(D)
-50
-10
-47
109
39
-146
l
(D)
()
24
17
1
6
D
(D
-32
(D)
0
38
3
0
(D)
(D)
233
-1,150
36
(D)
-1
(D)
203
161
(D)
(D)
n
167
13
154
1
-1
70
D
)
8^
8
(D
7°)
D
)
D
)
38
-2
52
75
1
16
(D
0
5
2 00
-308
D
ft
fl( )
n
n
11
207
17
1
(D)
565
39
567
-97
55
International
* Less than $500,000 (±).
D
Suppressed to avoid disclosure of data of individual companies.
1. See footnote Liable 11.2.
D)
H
n
130
Other
industries
3,596
1,463
6,576
212
0
84
12
19
17
Services
2,607
11,139
3,771
2364
Banking
283
4,240
4
Other
manufacturing
Finance
(except
banking),
insurance,
and real
estate
-378
34,111
20,812
All countries
Developed countries ...
Transportation
equipment
Wholesale
trade
302
2. See footnote 1, table 11.1.
NOTE.—In this table, unlike in the international transactions accounts, as revised, in June 1992, capital outflows
are shown without a current-cost adjustment.
128 • August 1992
SURVEY OF CURRENT BUSINESS
Table 12.3.—-U.S. Direct Investment Abroad: Capital Outflows, 1991
[Millions of dollars; inflows (-)]
Manufacturing
All countries ..
Developed countries
All industries
Petroleum
28,197
1,361
19,093
350
Primary
and
fabricated
metals
Machinery,
except
electrical
Electric
and
electronic
equipment
Transportation
equipment
Other
manufacturing
Wholesale
trade
Finance
(except
banking),
insurance,
and real
estate
Services
Other
industries
Food
and
kindred
products
Chemicals and
allied
products
12,312
1,619
3,284
-362
1,625
1,590
980
3,5 76
4,719
-1,241
6,384
1,817
2,84.6
8,497
1,257
2,287
-440
1,402
976
21
2,9 94
3,630
-1,444
5,382
1,571
1,107
420
189
345
n
105
-423
128
205
20
971
152
66
Total
Banking
Canada
1,275
Europe
16,727
524
7,742
835
1,4 20
-622
1,580
869
1,403
2,2 57
3,073
-1,086
4,046
1,258
1,170
14,123
392
252
1,994
5,735
4
774
1,047
-27
1,964
190
75
1,723
64
-31
7,207
-710
1,432
2,698
125
77
689
378
-12
(D)
426
(D)
585
10
3,011
232
18
-5
547
(D)
238
325
93
1,199
227
(D)
256
-5
(D)
-66
-8
0
36
1,157
(°)
-167
-234
2,1 47
(D)
3
332
663
D
)
151
63
D
)
459
1
D
)
5 36
-1,215
2
851
27
-1
-10
180
1,373
8
747
57
33
192
437
(D)
38
64
0
50
(D)
1,367
-107
41
929
4,045
3
410
568
-22
1,180
154
228
110
' D)
D
)
14
52
(D)
16
(D)
375
177
-81
1
-21
284
(D)
(D)
D
731
European Communities (12)
Belgium
Denmark
France
Germany l
Greece
Ireland
Italy
Luxembourg
Netherlands
Portuoal
Spain
United Kingdom
Other Europe
Austria
Finland
Norway
Sweden
Switzerland
Turkey
Other
2,604
208
-88
559
78
1,440
113
294
Japan
-579
689
12
200
-96
-7
50
(D)
-50
-912
460
(D)
S
(D)
4J6
-138
-191
535
10
-20
-11
68
176
148
164
-335
201
88
(D)
0
T( )
a
47
7
327
526
D
)
47
(D)
98
76
53
5
q
77
7
1
0
28
11
6
(D)
(D)
20
239
88
(Dj
n
()
8
-6
28
12
D
)
50
341
-31
184
178
(D)
(D)
181
145
27
9
135
118
(D)
(D)
D
D
8
0
%
137
1,295
0
-157
-66
-5
1
(D)
D
( )
196
148
-5
3
11
(D)
63
(D)
(D)
n
27
14
h
(D)
(D)
(D)
47
19
(D)
8
8
8
60
1,751
0
-4
-44
0
(D)
(D)
393
-856
30
(D)
0
0
(D)
D0
-120
540
8( )
D
-52
n
-6
-259
-98
-34
(D)
38
-14
742
129
2
(D)
1,034
(°)
0
(D)
59
(D)
0
10
10
87
970
0
28
s
fl
( )
8
-1,047
n
-38
-5
-5
(D)
(D)
88
90
(D)
(D)
)
53
242
(D)
-379
-286
-103
10
(D)
(D)
0
n
88
56
277
248
105
(D)
-735
89
1,070
741
290
39
9,372
1,108
3,815
362
997
78
223
614
959
582
1,088
203
6,134
183
2,295
287
6 35
33
-93
-67
988
513
520
292
South America
Argentina
Brazil
Chile
Colombia
Ecuador
Peru
Venezuela
Other
2,869
415
869
226
39
-46
-26
1,248
144
130
42
120
784
220
325
-72
115
4
1
180
11
218
66
83
8
26
-21
4
6
-44
(D)
-37
16
(D)
(D)
(D)
280
(°)
162
17
(D)
175
14
177
56
34
-8
-3
14
3
305
43
262
-5
31
4
D
)
61
D
)
237
-1
47
23
(D)
5
18
(D)
66
84
-2
80
-3
(D)
(D)
(D)
14
n
Central America
Mexico
Panama
Other
3,120
2,183
979
-42
1,371
1,239
113
20
62
43
17
2
D
)
77
180
201
47
-67
17
(D)
4
(D)
140
8
0
73
61
8
(D)
0
3
(D)
102
190
-76
(D)
-179
Developing countries
Latin America and Other Western Hemisphere
Other Western Hemisphere
Bahamas
Bermuda
;
Jamaica
Netherlands Antilles
Trinidad and Tobago
United Kingdom Islands, Caribbean
Other
146
-159
1,235
66
-902
-4
-334
245
Other Africa
Saharan
Egypt
Libya
Other
Sub-Saharan
Liberia
Nigeria
Other
-183
15
21
-3
-3
-198
-20
627
-805
Middle East
Israel
Saudi Arabia
United Arab Emirates
Other
Other Asia and Pacific
Hono Kona
India
Indonesia
Malaysia
Philippines
Singapore
South Korea
Taiwan
Thailand
Other .
.'
:.
.:
: "'...'
International
Addendum—OPEC
2
* Less than $500,000 (±).
D
Suppressed to avoid disclosure of data of individual companies.
1. See footnote Liable 11.2.
8
J3
52
2
50
Q(°)
2
28
-106
8
8
14
-279
-24
-13
n
-11
-255
2
641
-898
572
79
35
26
432
360
2,848
455
107
298
107
20
966
207
481
160
48
844
121
(D)
266
93
18
129
(D)
-267
-97
2,239
909
373
170
36
n
8
(D
44
6
3
0
3
38
0
18
20
26
2
40
268
108
167
1
-8
6>
(°)
(°)T23
0
( )
(D)
D
n0
q
0
1,209
-43
46
74
-31
139
752
-29
355
-80
27
49
(D)
445
40
(£
i
39
(D)
22
fl*
(D)
11
-136
(D)
T(°)
0
(D)
0'
9
(D)
(D)
-3
0
8
(D
n^
394
2 88
94
12
(D)
19
(D)
(D)
42
42
0
0
-35
-38
0
3
708
708
0
0
66
D
)
0
D
)
D
)
(D)
0
0
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n0
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5
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-4
1
1
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0
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0
D
D
)
6
n
h
-2
(D)
*!
TD)
196
23
21
28
-1
50
n
-17
90
6
-4
(D)
()
0
0
9
(D)
D
()
(D)
0
0
32
(D)
1
2
2
3
(D)
0
0
0
0
0
0
0
0
(
a
7
(D)
T0
(D0)
°!
D0
^
3
0
)
D
29
2
2
)
0
D
)
( }
D
*o
5
(D)
-1
1
i
()
103
101
1
0
0
0
0
0
0
0
-4
D
)
314
-43
19
(D)
-18
582
-11
(D)
-36
0
1
0
0
D0
71
-5
D
)
(D)
11
2
(D)
17
(D)
D
0
i
8
-26
45
423
5
167
-22
(D)
4
43
n
r
79
n
313
8
()
-61
(D)
0
°!)
D
n
8
87
68
-134
115
9
(D)
(D)
79
39
17
13
8( )
?!
D
4
-11
a
16
(D)
563
222
8
27
15
85
101
76
28
-7
(D)
-172
177
227
174
(D)
(D)
D
n
-207
102
( )
n
n
988
1,078
Australia, New Zealand, and South Africa
Australia
New Zealand
South Africa
(D)
1,675
-776
(D)
()
D
-117
fl
259
245
1,909
246
1,911
415
145
170
120
-20
(D)
117
-1
103
(D)
1,102
10
25
136
n
n
(C
8'3
799
39
755
5
45
39
3
3
6.57
84
152
n
a( )
-526
21
1,137
-1
-1,023
1
-696
|
n
(
i
-411
609
1
47
D
16
(D)
(D)
(D)
9
6
-5
11
fl( )
T(°)
(D)
(°)
(D)
-8
-140
688
89
-1
-1
0
0
90
159
35
53
-6
9
-16
-73
105
7
26
20
12
n
n
n
(DD)
()
1,002
-58
4
4
0
-1
-61
!°j
n
645
n
n
35
-190
(°)Q
264
(D)
1
n
(D)
8
D
fl
134
(°)
(8
D
I
-17
2
32
90
-33
1
-27
-4
-3
88
(D)
31
136
180
1
23
8
0
(D)
'!11
n
n
n
(D)
n
-84
-68
(D)
-40
(D)
19
-4
101
-30
1,000
n
(DD)
(D)
()
n
-158
66
28
25
-2
--48
n
3
n
n
n
(D)
-170
202
91
-277
2. See footnote 1, table 11.1.
NOTE.—In this table, unlike in the international transactions accounts, as revised in June 1992, capital outflows
are shown without a current-cost adjustment.
SURVEY OF CURRENT BUSINESS
129
August 1992
Table 13.1.—U.S. Direct Investment Abroad: Equity Capital Outflows, 1989
[Millions of dollars; inflows (-)]
Manufacturing
All industries
Petroleum
All countries
-1,755
-5,5 17
Developed countries
-3,668
-5,3 65
Canada
-1 ,433
Europe
-1,826
European Communities (12)
Belgium
Denmark
France
Germany, Federal Republic of
Greece .
Ireland
Italy ...
Luxembourg
Netherlands
Portugal
Spain .
United Kingdom
-1,115
-49
(D)
-160
-6
-24
119
286
fi16
103
-1,757
Other Europe
Austria ..
Finland
Norway .
Sweden
Switzerland
Turkey ..
Other
-711
2
.
..
n
(58D)
4
(D)
Japan
-460
Australia, New Zealand, and South Africa
Australia
New Zealand
South Africa
50
293
128
-370
Developing countries
D
)
-2,7 77
-2.C 69
0
0
0
D
)
23
0
D
)
0
D
)
0
0
-2,C 94
-7 08
3
3
0
0
3
1
1,836
-2 25
Food
and
kindred
products
Chemicals and
allied
products
510
58
-1,630
65
23
-748
243
(D)
1,774
-3
-1,790
-2,169
(D)
205
(D)
-64
(D)
3
-1,718
(DD)
( )
-234
80
0
118
-2,169
(D)
(D)
(D)
0
0
D0
219
(D)
0
-64
-3
0
5
-9
0
0
0
0
(D)
0
(D)
-28
307
0
0
-16
(D)
0
180
(D)
0
0
0
D0
424
0
0
D
( )
(°)
0
0
0
0
0
0
0
0
0
1
-4
0
0
0
0
0
0
-4
Total
n0
359
15
45
-2,130
-72
4
2
0
<2
(°)-4
-165
-1,628
( 0)
n0
35
(D)
0
0
0
0
0
0
0
0
0
n
(D0)
(33D)
0
( )
0
0
-4
D
-15
4
(
l
5
-24
0
0
D
( )
n
238
386
(D)
(D)
452
544
(D)
(D)
(D)
-3
88
D
(
- l1
(D)
1,756
-104
390
-1
( )
South America
Argentina
Brazil ....
Chile
Colombia
Ecuador
Peru
Venezuela
Other
451
110
267
237
(D)
408
61
184
(D)
(D)
0
11
0
0
0
D0
(°)
(D)
19
0
7
0
0
0
0
Central America
Mexico
Panama
.
Other
213
143
77
-8
-100
D
)
D
)
0
50
0
0
D
)
D
)
0
0
0
0
n2
R(
l
5
5
0
0
)
)
42
0
0
24
0
23
0
-5
0
0
0
0
0
0
0
0
114
0
0
0
0
114
0
0
114
3
0
0
0
0
3
0
0
3
-2 16
0
D
)
D
)
D
)
18
D
)
0
15
0
0
0
0
0
0
D
)
73
3
0
3
0
0
Latin America and Other Western Hemisphere
0
3
.
Other Western Hemisphere
1,093
(D)
1,183
24
Bermuda
Jamaica
Netherlands Antilles
Trinidad and Tobago
United Kingdom Islands Caribbean .
Other
-963
Other Africa
Saharan
Eovot
L^.::::::::::::::::::::::'::::::::::::::::::::::::::::::::::::::::::::::
Other
Sub-Saharan
Liberia
Nigeria
Other
Middle East
Israel
Saudi Arabia
United Arab Emirates
Other
Other Asia and Pacific
Hono Koncj
India
Indonesia
Malaysia ...
Philippines
Singapore
South Korea
Taiwan
Thailand
Other
.
..
23
(D)
(D)
-61
-3
-3
0
0
-58
(D)
-20
(D)
-225
2
-35
-87
..
-105
365
116
(D)
.
...
. ..
International
Addendum—OPEC l
* Less than $500,000 (±).
D
Suppressed to avoid disclosure of data of individual companies.
-9
-8
13
50
-25
7
(D)
77
-221
-4
0
n0
D
0
D0
-188
Electric
and
electronic
equipment
Primary
and
fabricated
metals
80
(D)
-61
-63
56
(D)
-9
(D)
1
-11
-4
14
(
1
(D)
-25
(D)
(D0)
(DD)
(D)
()
a
Ma,
chinery,
except
electrical
303
()
D
( )
-26
-12
0
-14
D
( )
25
n0
'?>0
Wholesale
trade
Finance
(except
, banking),
Banking
insurance,
and real
estate
Services
Other
manufacturing
88
360
2,133
77
622
2,732
-38
-140
(D)
-7
424
355
2,003
71
244
1,682
(D)
(D)
15
(D)
-504
182
-629
(D)
-60
n
(D)
198
(D)
119
106
(D)
-2
0
23
(D)
(D)
81
(DD)
( )
0
(D)
106
0
0
251
D
flD0
(15)
n
41
0
0
0
0
0
0
0
0
D
()
n
(D0)
-2
D
( )
6
(D0
^
(D)
0
0
0
n
(DD)
( 0)
0
0
T
0
0
402
(D
o>
D
( )
34
0
(D)
-160
0
1
(D)
-19
3
0
33
0
(D
]
24
-22
-4
1
5
1
-131
(D
-49
(D)
^
D
( )
0
2
0
(D)
0
n0
nD
()
n
0
27
<°>
0
3
2
(D)
(D)
0
(D)
(D)
(D)
0
0
(D)
0
(D)
-23
4
(D)
5
130
6
-11
107
(D)
(D)
42
(D)
fl0
0
0
0
4
fl
120
38
-2
0
0
0
n
(DD)
()
(DD)
()
(D)
2,378
2,523
8
(DD)
( )
33
0
0
(DD)
( )
131
0
1
2,132
-145
-1
0
0
1
-145
0
0
n
n
1,050
81
148
1,108
42
92
(D)
8
(D)
119
7
110
-1
0
2
0
1
1
8
80
37
0
37
0
0
0
0
(*)
0
-15
0
0
0
(D)
n
n
-2
5
0
5
0
104
(D)
0
0
47
0
0
24
0
23
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
-5
0
0
0
0
0
0
-5
T(D)
R
30
0
n0
0
0
(°)
(D)
0
(°)
0
-953
0
(D)
0
4
0
0
0
0
4
0
0
4
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
-1
0
0
0
0
-1
0
0
0
0
0
0
0
0
0
0
0
-16
(D)
(D)
0
0
(D0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
3
0
3
0
0
0
0
0
0
0
0
0
0
0
0
-73
0
0
0
-73
-6
T-9
1
0
0
-2
0
0
0
0
0
0
0
-2
0
0
16
0
0
0
0
0
5
D
( )
0
0
24
(D)
D0
-3
-2
2
0
(D)
0
0
n
n
1
0
D0
( 0)
0
0
0
(D)
n
0
0
( 0)
()
0
D0
0
0
-16
-1
D0
0
0
n
-2
0
0
0
3
0
(D)
n0
( 0)
( 4)
r
o>
{D
o>
0
0
n
n0
^
( 0)
n0
0
0
0
0
0
0
0
0
377
(D)
(D)
0
2
(DD)
D0
0
2
2
0
0
(D
( 0)
0
(D)
-56
(D)
1
1
0
0
_•(
^
(D0)
(D)
n
D
1
1
0
0
(DD)
( 0)
-4
0
(D
( 0)
0
(D0)
D
( 0)
(D)
-98
n
n0
()
0
-12
0
-1
0
0
0
0
l
0
21
0
0
0
0
,-13
(D
(D)
5
0
5
0
0
0
0
0
0
89
0
0
0
-1
0
Other
industries
Transportation
equipment
n
0
(D0)
D
()
n0
0
0
-1
0
-3
1,005
n
^0
0
n
n
n0
6
0
56
0
-1
(D)
(D)
190
-7
(D)
(D)
1
3
12
85
0
0
0
0
0
fl
(D
D
( 6)
0
-3
(D0
n^
5
1
]
14
-2
0
0
23
-4
D
()
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
(D0)
n0
0
D
( 0)
(D)
(D)
(D
l
0
D0
()
n
(D)
3
0
n0
0
0
0
3
(°)
®0
0
n0
8
(D)
(D)
0
0
0
0
0
0
0
173
0
0
5
0
0
(*)
0
0
0
168
n
(D)
0
0
(D
^
5
-1
1. See footnote 1, table 11.1.
130 • August 1992
SURVEY OF CURRENT BUSINESS
Table 13.2.—U.S. Direct Investment Abroad: Equity Capital Outflows, 1990
[Millions of dollars; inflows (-)]
Manufacturing
All industries
All countries
Developed countries
Canada . ...
Europe
European Communities (12)
Belgium
Denmark
France
Germany '
Greece
Ireland
Italy
Luxembourg
Netherlands
Portugal
Spain
United Kingdom
•
Other Europe
Austria
Finland
Norway
Sweden
Switzerland .. .
Turkey
Other
Petroleum
Food
and
kindred
products
Chemicals and
allied
products
Primary
and
fabricated
metals
380
-785
-453
296
Total
Machinery,
except
electrical
Electric
and
electronic
equipment
Transportation
equipment
Other
manufacturing
164
-33
994
197
Banking
Finance
(except
banking),
insurance,
and real
estate
Services
79
9
5,757
215
714
Wholesale
trade
Other
industries
7,455
302
7,436
608
129
-662
^495
298
210
-98
878
-2
74
-270
6,581
205
109
387
101
-115
(D)
-61
-62
-16
(D)
(D)
(D)
-43
(D)
240
n
145
7,008
500
427
-551
-239
310
190
-65
903
,-121
54
-400
6,073
211
142
4,305
182
56
442
1,274
923
0
0
(D)
(D)
(D)
R
100
(D)
n
(°)0
0
(D)
(D)
16
0
(D)
T
4
(D)
0
(D)
0
0
l
528
494
0
2
n
n
(-8D)
109
8
0
(D)
26
284
5
0
-148
753
0
12
17
(D)
38
T
1,081
R
74
-199
-189
246
-22
69
2,379
2,703
(D)
(D)
(D)
-20
n
25
(D)
(
i
(00
-423
(D)
0
(D)
0
38
D
( )
0
-153
144
fl( )
D
^19
26
6
(D)
(
"l
(
(D)
(D0)
(D2
i
(DD)
()
(D)
n0
D0
( 0)
0
0
^0
-46
(D)
D
( )
0
(D)
0
(D)
(D)
0
0
(D
o>
R
0
0
0
0
-2
0
0
(D)
D
( )
0
0
0
D0
( 0)
0
D
n
n0
(D)
(D0)
6
0
1
n
(D0)
0
D0
( 0)
0
0
0
5
-37
0
1
-77
D
( )
(D)
0
0
14
D
4
0
(D)
0
0
0
-7
(D)
D
(D
u
-110
38
0
5
-76
1
20
(
°2
26
D
T-1
28
(D)
0
103
0
-48
D
( )
19
( )
0
0
(D)
0
0
D0
()
( )
0
0
0
0
0
5
(D)
( )
0
0
0
D
( )
0
2
0
-45
1
i
-49
5
(D)
25
-5
-141
T
n
n
319
0
1
fl
470
0
3
667
0
0
289
D
D
D
( )
( )
°4
(°)
-81
12
0
0
4
(D)
fl
n
R1
29
86
41
(D)
n
-24
(D)
(D)
0
(D)
55
(D)
0
n
72
(
(D)
n0
n0
(D)
78
(D)
0
0
( 0)
3
3
0
0
(D)
(D)
0
0
1
1
0
0
(D 0
( )
251
-123
42
-2
^46
65
116
198
5
278
-824
9
202
(D)
378
2
39
7
(D)
25
(D)
166
(D)
153
-781
(D)
South America
Argentina
Brazil
Chile
Colombia
Ecuador
Peru
Venezuela
Other
438
158
84
54
-6
12
0
119
17
27
(D)
300
139
46
6
4
-9
0
111
2
-8
-5
1
0
0
-6
0
0
2
76
(D)
14
0
4
0
0
(D)
0
1
0
1
(D }
(D)
0
7
0
0
0
0
(D)
0
(D)
(D)
(D)
0
0
0
0
95
0
(D)
(D)
-11
6
0
-3
0
1
0
26
(D)
61
23
12
(D)
-28
30
(D)
0
0
0
0
0
n0
(D0)
Central America .
Mexico
Panama
Other
425
503
-76
-3
1
0
1
0
D
(D)
(D)
11
11
0
0
-27
(D)
0
R
1
1
0
0
(D)
(D)
0
0
(D)
1
1
Developing countries
Latin America and Other Western Hemisphere
Other Western Hemisphere
Bahamas
Bermuda
Jamaica
Netherlands Antilles
Trinidad and Tobago
United Kingdom Islands Caribbean
Other
-144
226
158
68
0
2
(D)
(D)
0
56
R
(D)
D0
199
D
-661
203
-285
(D)
-366
.
...
Other Africa
Saharan
Eqvnt
Libya
Other
Sub-Saharan
Liberia
Nigeria
Other
(
°4
n0
0
D0
()
()
n0
0
0
n
(21b)
n0
(D)
108
11
7
2
2
97
1
7
89
91
8
4
2
2
84
0
R
T0
Middle East
Israel
Saudi Arabia
United Arab Emirates
Other
-185
(D)
(D)
(D)
-165
Other Asia and Pacific
a
Hona
. j.a Kona
India
Indonesia
Malaysia
Philippines
Singapore
South Korea
Taiwan
Thailand
Other
74
-99
2
27
22
-68
-61
106
-52
-6
202
-59
0
0
-116
5
0
-180
(D)
259
-24
International
2
Addendum—OPEC
* Less than $500,000 (±).
D
Suppressed to avoid disclosure of data of individual companies.
1. See footnote Liable 11.2.
(DD)
()
(D
l
0
1
(D)
(
°l
(D)
0
0
n0
0
0
0
(D
^
0
0
D0
( 0)
(D4)
\
0
(D)
0
0
0
0
0
0
0
0
(D)
0
D0
n0
o
n0
0
0
0
0
0
0
0
0
0
6
6
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
9
0
0
0
0
9
0
(°)
D
( )
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
n0
0
0
0
0
0
0
0
0
0
0
-8
D
(-3D)
-114
-116
0
8
(DD)
( )
23
66
-103
4
-2
134
-142
0
(D)
-4
120
3
n
fl
0
0
0
( 0)
(
'l
0
3
0
0
0
6
0
D0
()
( 0)
0
0
0
0
0
(D
0
0
1
0
1
0
0
0
0
0
0
0
0
0
0
0
(D0)
0
0
0
(D
^
D0
()
(DD)
( 0)
0
0
62
(D)
D0
( 2)
0
(D)
2
D0
(°)T
( 0)
(DD)
( 0)
0
4
-24
(D)
-40
(D)
3
0
0
0
3
0
0
0
116
(D)
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
(D)
0
0
0
0
0
0
0
0
0
0
••(D)
32
14
0
D0
0
0
0
0
0
(D0)
0
D0
()
-8
5
0
0
0
0
(DD)
( )
D1
( 0)
( 0)
n
(-6D)
4
-1
1
-2
(D)
0
T0
(D
0
0
0
(D)
0
0
(D)
95
2. See footnote 1, table 11.1.
n0
n0
0
0
0
0
0
0
0
0
^
\
11
0
0
0
0
0
0
0
0
o>
-1
(D
^
n0
0
'<•!
3
3
0
(C
i
0
( )
D
(D)
0
D0
(D)
( ).
114
15
n
(D)
0
0
n
(D)
0
0
D
( 0)
-277
0
-368
0
(D)
D
( )
-9
0
0
0
fl
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
1
n
n0
0
1
0
0
-44
-3
0
0
(D)
(D)
(D)
n0
(D0)
n2
31
1
fl12
0
0
0
0
0
-779
n
0
'l
(D)
-51
-51
0
0
Australia New Zealand and South Africa
Australia
New Zealand
South Africa . .
2
(
2
2
0
0
0
0
(D0)
,(D)
-239
51
0
0
n0
18
5
3
(D)
( )
34
-185
°l0
33
0
0
3
D
( )
0
2
(D)
()
(D)
(DD)
( 0)
Japan
(
a
0
0
0
0
0
0
0
0
0
0
0
0
0
0
-1
n
(D)
7
0
0
R
T
0
(D)
(DD)
()
0
0
1
0
1
1
0
0
0
(*)
0
0
0
0
0
0
0
0
0
n
0
0
0
0
184
0
0
n0
(D)
0
1
0
(D)
n
(D)
SURVEY OF CURRENT BUSINESS
August 1992
Table 13,3.—U.S. Direct Investment Abroad: Equity Capital Outflows, 1991
[Millions of dollars; inflows (-)]
Manufacturing
All industries
All countries
Developed countries
11,650
. ..
Petroleum
1,689
D
Total
1,895
7,543
()
Canada
1,461
D
( )
831
Europe
5,654
505
1,116
5,109
60
11
226
313
19
33
65
-57
988
57
480
(D)
0
3
8
0
0
0
0
-12
0
949
-14
0
47
22
(D)
19
-467
3,861
£
545
(D)
5
(D)
182
80
93
192
25
0
0
13
0
3
5
4
European Communities (12)
Belgium
Denmark
France
Germany l
Greece
Ireland
Italy ...
Luxembourg
Netherlands
Portugal
Spain
United Kingdom
]
Other Europe
Austria
Finland
Norway
Sweden
Switzerland
Turkey
Other
Japan
-811
Australia New Zealand and South Africa . .
Australia
New Zealand
South Africa
.. .
1,238
(D)
(D)
-8
Developing countries
Latin America and Other Western Hemisphere
South America
Argentina
Brazil
Chile
Colombia
Ecuador
Peru
Venezuela . . .
Other
Central America
Mexico
Panama
Other
Other Western Hemisphere
Bahamas
Bermuda
Jamaica
Netherlands Antilles
Trinidad and Tobago
United Kingdom Islands Caribbean
Other
Other Africa
Saharan
.Eavot
;»'"
Libya
Other
Sub-Saharan
Liberia
Nigeria
Other
Middle East
Israel
Saudi Arabia .
United Arab Emirates
Other
Other Asia and Pacific
Hona Kona
India
Indonesia
Malaysia
Philippines . . .
Singapore
South Korea
Taiwan
Thailand
Other
International
Addendurrt-OPEC2
* Less than $500,000 (±).
D
Suppressed to avoid disclosure of data of individual companies.
1. See footnote 1, table 11.2.
12
6
6
0
0
1,722
-101
1
482
166
(D)
4
0
Food
and
kindred
products
Chemicals and
allied
products
Primary
and
fabricated
metals
40
417
-784
-40
499
-788
D
D
675
D
D
( )
( )
()
( )
( )
(D)
( )
16
D
()
949
D
()
638
236
2,180
697
283
-194
(D)
0
(D)
52
0
1
(D)
(DD)
()
0
-149
D
()
0
0
0
0
7
0
0
9
D
( )
0
2
(D)
0
2
0
4
(D)
555
(D)
0
14
D
( )
0
1
6
0
944
0
0
198
463
30
(D)
23
37
(D)
0
278
0
7
0
94
2,149
(D)
(D)
8
T
60
-12
0
0
0
30
-26
-1
n0
(D)
(DD)
(-6)
0
(D)
w( )
D
4
123
0
5
D
( )
(D)
7
n0
0
0
0
0
7
(D^)
(D0)
5
'<•!
fl
(
1
D
( )
8
0
1
3
0
0
0
fi
5
0
0
0
0
0
5
0
2
8
68
70
86
-86
3
(D)
-17
66
1,429
208
286
-80
118
151
94
94
(D)
-17
36
35
(D)
8
3
(D)
(D)
0
0
68
57
1
0
0
0
0
(D)
(D)
(D)
0
0
0
10
0
5
0
0
0
1
5
0
D
D
1,220
-31
(D)
19
19
0
0
^8
0
0
°4
3
(D)
(D)
(D)
0
0
1
0
0
0
0
0
0
0
0
0
0
0
134
18
10
4
3
116
0
6
110
142
(D)
12
4
(D)
(D)
0
3
D
( )
7
0
0
0
0
7
0
7
0
2
0
0
0
0
2
0
2
0
-fl
(
-273
1
(D)
1
(D)
1,094
53
30
268
-3
7
0
0
(D)
(D)
62
(D)
121
768
0
(D)
275
5
0
4
0
0
(D)
88
-18
(D)
1,017
351
Q58
(D
3^
3
0
3
0
0
95
3
0
-4
n
61
4
53
-4
-9
45
( )
1
0
0
0
-15
-15
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
( )
(D)
0
0
D
( 0)
0
5
0
(
1>
D
(D
Do>
( 0)
0
8
( 0)
(D0)
0
p
l
( 0)
a
(D)
(D)
(D
]
0
0
0
D0
()
0
0
30
92
-90
1,496
20
n
1,497
3
fl
0
0
0
0
0
37
fi
0
1
0
2
1
8
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
-4
0
0
0
-4
0
0
0
31
-16
0
0
44
3
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
5
0
0
0
0
5
0
5
0
0
0
0
0
0
0
0
0
0
<3
-17
(D)
<3n
0
(D)
(D)
0
-3
D
( )
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
(D
^
0
0
-8
0
0
0
0
-6
T-9
0
0
0
-4
0
4
(D)
5
0
1
0
0
0
(D)
0
-10
0
0
0
D0
( 0)
2. See footnote Liable 11.1.
86
(D)
0
0
4
0
(D)
9
(D)
0
0
0
0
0
0
0
0
0
0
0
0
0
n
(D)
(DD)
()
0
0
0
14
1
0
0
0
0
0
(D)
268
(D)
(°)
0
0
0
1
0
0
0
n
^0
3
3
8
(D)
(D)
-3
1
n0
(D)
0
D0
(D2
0
(D0)
141
(*)
0
0
-33
-33
0
0
1
0
0
0
0
0
0
0
fl
n0
D0
63
63
0
0
69
0
0
0
0
0
fl
-10
(D0)
4
121
^
*i
(D)
3,170
(D
31
1
0
0
-94
44
-2
0
-3
0
0
0
0
$
60
4
n0
n
-2
631
(D)
T0
-2
(D)
6
1,327
15
2
2
0
0
80
381
&
n0
(D)
0
0
0
0
-5
0
0
-5
q
g
n
-120
0
n0
427
(D)
(D)
(D)
(D)
0
0
57
0
2
202
223
0
5
15
(D)
(D)
584
(D)
(D)
-8
10
(D)
53
37
4
9
(D)
(D)
-9
(D)
39
()
(D)
0
0
0
0
0
D0
^
8
0
<1
2
(D)
( 0)
•3
(D)
0
0
0
D0
8
175
3
1
(DD)
()
26
0
0
9
0
0
0
2
0
0
7
T
0
0
(D)
(D0
D
-62
-8
D
-628
( )
D
80
9
(D)
665
627
Other
industries
D
( )
o>
-33
-33
0
0
1,800
832
697
174
521
517
10
-7
821
2,653
826
757
Services
-188
(D)
139
(D)
1
(D)
(D)
4,150
34
-10
1,038
?
298
388
Other
manufacturing
4,125
(
997
905
Transportation
equipment
Wholesale
trade
299
(D
-610
Banking
Finance
(except
banking),
insurance,
and real
estate
Electric
and
electronic
equipment
Machinery,
except
electrical
-5
0
0
0
0
0
0
0
0
0
0
72
66
0
0
0
0
')
-1
0
0
n
(
'l
(D
l
8
45
82
-7
(D)
n
-3
53
15
12
(D)
fl
(D)
207
(D)
R
0
0
(D0)
0
0
( 0)
0
' 30
-11
D
()
(D0)
2
0
0
0
0
(D)
0
0
0
-1
D
( 0)
(D)
1,426
1,392
n
0
1
(D)
0
0
8
a a a
0
0
18
0
0
0
(D)
(D)
(D)
0
0
(D)
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
3
0
0
0
0
3
0
0
3
1
1
0
0
0
0
0
-262
(D0)
(D0)
0
D
(-9)
0
8
0
0
15
28
(°)
0
0
0
(T
0
0
0
0
0
0
0
D4
•n0
()
-27
(D)
(D)
0
2
2
0
0
(D)
0
31
1
0
(D)
D0
()
7
0
0
D
()
(D)
(D)
SURVEY OF CURRENT BUSINESS
13-2 • August 1992
Table 14.1.—U.S. Direct Investment Abroad; Reinvested Earnings, 1989
[Millions of dollars]
Manufacturing
All industries
Petroleum
Total
Food
and
kindred
products
Chemicals and
allied
products
Primary
and
fabricated
metals
Machinery,
except
electrical
Electric
and
electronic
equipment
Transportation
equipment
Other
manufacturing
Wholesale
trade
Banking
Finance
(except
banking),
insurance,
and real
estate
Services
Othe
indus
tries
9e
All countries
15,950
-829
13,046
736
3,337
1,107
1,306
776
2,885
2,899
2,319
-1,508
1,374
588
Developed countries
12,403
-317
8,833
291
2,415
635
961
272
2,104
2,155
1,638
-1,071
1,955
689
6/
Canada
2,642
27
1,605
45
576
269
-162
21
391
465
228
91
272
3
41
Europe
7,785
-351
5,779
149
1,488
300
676
185
1,467
1,515
1,031
-961
1,568
659
i
European Communities (12)
Belgium
Denmark
France
Germany, Federal Republic of
Greece
Ireland
Italy
Luxembourg
Netherlands
Portugal
Spain
United Kingdom
5,745
279
-8
1,033
1,420
13
856
373
126
1,076
59
1,286
-767
-335
(DD)
(D)
()
197
5,519
164
-11
763
1,023
8
516
214
74
594
46
1,120
1,009
94
-2
6
67
1,479
180
297
-12
-1
24
120
0
11
24
3
17
1
61
50
517
(D)
0
201
15
0
-58
-35
-1
88
187
(D)
-23
12
101
-2
34
29
-3
62
(D)
-10
13
1,462
1,483
2
(D)
291
181
(D)
101
130
(D)
141
5
87
465
320
-49
-699
(D)
-6
-118
-97
-7
-6
-19
17
-5
(D)
33
-496
310
129
8
99
242
3
(D)
(D)
33
432
4
-2
-950
570
31
(D)
30
-2
1
e
Other Europe
Austria
Finland
Norway
Sweden
Switzerland
Turkey
Other .
2,040
33
28
60
188
1,764
-7
-26
-16
(D)
3
159
-2
6
0
5
3
0
0
9
0
-7
-262
(D)
1,258
-3
0
22
13
1,226
0
1
89
1
414
-62
619
1,562
1,382
19
162
69
38
(D)
(D)
.
.
.
Japan
Australia, New Zealand, and South Africa
Australia
New Zealand
South Africa
n6
-15
2
-17
1
-28
-501
g
8(D)
260
23
4
18
134
80
1
1
i
-46
0
76
(D)
67
-125
fl97
7
366
114
(D)
202
8
95
332
55
21
0
9
-3
fl
<1
2
-1
5
0
12
-9
0
D
()
125
2
830
680
30
119
8( )
64
42
2
20
0
(
'l
n0
__•]
n
fl25
8'3
n
{
°l
98
517
0
8
-1
0
(DD)
()
275
32
2
4
(D)
(D)
20
4
2
n
245
31
9
-2
115
1
-173
-9
117
36
711
23
(D)
8
-2
-6
2
0
(D)
58
102
49
68
()
82
1
(D)
7
7
1
126
(D)
(D)
12
311
323
-17
5
D
n
635
(D)
(D)
n
n
228
n
n
-343
n
21
0
234
(°)
44
136
[
(
("
1
(
3
8
n
(°)
115
-13
0
-10
2
9
40
39
1
1
K
u
3
227
199
10
17
n
143
137
(DD)
( )
3,642
-372
4,213
445
922
472
344
504
781
744
681
-437
-581
-102
2,151
-279
3,287
333
621
456
209
260
755
654
226
-341
-725
-125
1
South America
Argentina
Brazil
Chile
Colombia
Ecuador
Peru
Venezuela
Other
2,281
60
2,110
225
-48
-5
-145
91
-247
343
-19
346
8
31
-2
-7
-17
3
353
20
244
61
5
1
3
20
-1
221
(D)
197
3
(D)
687
(D)
633
(DD)
()
494
-18
(D)
-U
0
(
r!
B'n
85
5
45
6
5
1
-5
26
2
-130
T-6
146
28
66
2
21
2
-1
25
3
197
-22
-64
(D)
(D)
(D)
(D)
9
-2
2,442
37
2,087
89
131
8
6
78
6
Central America
Mexico
Panama
...
Other
396
822
-466
41
-4
-1
-15
12
742
669
48
25
180
161
18
1
242
207
(D)
(D)
53
46
(D)
(D)
13
13
0
0
35
32
0
3
67
67
0
0
153
143
(D)
(D)
-17
(D)
(D)
-19
Other Western Hemisphere
Bahamas
Bermuda
Jamaica
Netherlands Antilles
Trinidad and Tobago
United Kingdom Islands Caribbean
Other
-526
-359
-755
136
178
25
162
87
-29
30
-67
-1
(D)
(D)
103
(D)
0
80
3
-9
1
(D)
7
0
0
3
2
1
0
1
35
(D)
0
27
2
-10
0
(D)
49
0
0
49
(*)
0
0
0
0
4
0
0
0
0
0
0
0
0
0
0
0
0
0
8
0
0
2
0
1
0
6
158
34
75
(D)
2
2
2
0
0
1
0
0
-3
-2
(D)
0
(D)
-1
0
18
7
6
Developing countries
Latin America and Other Western Hemisphere
Other Africa
Saharan
Eavot
,%.
Libya
Other
Sub-Saharan
Liberia
Nigeria
Other
68
140
137
-7
10
-72
48
-85
-35
Middle East
Israel
Saudi Arabia
United Arab Emirates
Other
163
53
61
30
19
Other Asia and Pacific
Hong Kong
India
Indonesia
Malaysia
Philippines
Singapore
South Korea
Taiwan
Thailand ..
..:
Other
.. .
1,260
321
69
214
-40
150
185
187
180
75
-81
.
International
Addendum—OPEC ]
.
.
.
.
.
*D Less than $500,000 (±).
Suppressed to avoid disclosure of data of individual companies.
1. See footnote 1, table 11.1.
13
1
110
116
-8
3
-109
1
-45
-65
-12
4
-119
29
75
-83
3
238
(D)
(D)
70
n
%
-95
-140
322
106
8
1
2
0
-1
6
0
-2
9
191
(DD)
( )
-5
D
6
(D)
0
0
(°)
(D0)
0
(D)
0
0
0
0
0
727
112
45
15
28
99
224
64
71
50
18
107
37
240
31
n
1
32
6
15
8
5
0
2
1
1
0
0
1
0
2
3
(D)
C^0
-4
(D)
21
(D)
36
(D)
25
50
9
5
134
(
l
0
0
(DD)
( 0)
0
(D)
(D0)
-1
(D)
-6
-1
-5
0
0
(D)
n
1
n
<i:
8
0
n0
0
2
1
n0
n
0
1
0
3
8n
(DD)
(D)
0
0
0
0
0
0
2
n0
1
0
134
70
(D)
(°)
( )
0
0
3
0
0
3
(D)
(D)
0
0
192
-25
n
-3
6
0
0
101
-5
-51
5
0
9
17
109
10
50
22
2
17
(D)
-2
i
1
0
0
0
0
0
24
0
1
0
0
D0
n28
n
-1
1
-1
0
-1
93
R
1
14
D
( )
n
11
4
(D)
(D)
47
(D)
24
(D)
390
209
n
-5
n
3
(D)
20
(D)
59
()
5
0
(
1
27
2
(D)
389
-13
327
78
4
-1
-1
<]
104
29
-159
D
( )
-8
-8
(D)
(D)
-230
-335
2
fl
8
23
-49
(D)
(D)
0
$
0
-415
46
-464
3
-699
-111
-763
0
185
n
59
-68
20
-1
1
0
0
21
2^
15
-133
6
«<:i
n
1
9
10
1
(
n
6
0
5
D
( )
15
14
13
1
0
2
1
n
(D)
n
-70
(°)
D
3n
-10
2
-4
-1
-7
fl( )
-48
-14
26
n
-5
30
-181
73
15
8
2
194
161
-1
7
-1
-3
10
10
9
3
(
^4
-9
3
3
T
(D)
(
-18
(D)
-9
-45
(D)
8
46
44
80
32
(D)
14
10
142
160
18
0
18
9
0
-1
(
i
|
(
(
1
9
-5
(*)
n
4
-48
-26
(
NOTE—In this table, unlike in the international transactions accounts, as revised in June 1992, reinvested earnings
are shown without a current-cost adjustment.
August 1992 • 133
SURVEY OF CURRENT BUSINESS
Table 14.2.—U.S. Direct Investment Abroad; Reinvested Earnings, 1990
[Millions of dollars]
Manufacturing:
All industries
Petroleum
Total
Food
and
kindred
products
Chemicals and
allied
products
Primary
and
fabricated
metals
Machinery,
except
electrical
Electric
and
electronic
equipment
Transportation
equipment
Other
manufacturing
Wholesale
trade
Banking
Finance
(except
banking),
insurance,
and real
estate
Services
Other
industries
All countries
20,886
2,834
9,504
1,484
2,353
628
947
640
1,412
2,040
2,670
-2,060
6,806
746
Developed countries
12,503
2,047
6,011
1,216
1,536
421
479
234
869
1,256
1,932
-1,738
3,620
630
2
Canada
235
-69
70
65
205
175
-544
42
88
41
80
55
276
30
-208
Europe
11,276
1,906
5,382
1,016
1,240
207
1,061
176
610
1,072
1,571
-1,496
3,302
592
21
9,268
734
122
894
1,171
18
913
1,216
-73
2,231
81
1,362
597
1,391
(D)
(D)
(D)
404
3
940
17
23
51
67
0
47
105
0
118
10
111
391
1,228
-9
-3
177
134
7
271
292
18
99
2
60
181
187
13
5
21
43
0
3
-3
-1
75
1
-13
42
917
(D)
0
57
303
0
(D)
368
(D)
20
131
(D)
606
(D)
0
-28
35
0
(D)
-30
0
3
(D)
1,011
85
986
240
32
302
110
(D)
13
84
(D)
310
5
101
-1,218
2,507
250
(D)
95
156
-2
(D)
145
(D)
913
3
-26
695
571
30
-1
57
-20
12
-2
-1
(D)
40
227
1
17
588
5,020
200
24
538
607
4
565
889
-87
549
53
1,150
526
2,009
199
(*)
390
102
1,233
48
37
515
(D)
(D)
397
3
(D)
(D)
-15
362
32
-1
13
159
146
12
0
76
4
0
12
7
795
-33
0
(°)
4
828
0
(D)
20
(D)
2
(D)
21
European Communities (12)
Belgium
Denmark
France
Germany '
Greece
Ireland
Italy
Luxembourg
Netherlands
Portugal
Spain
United Kingdom
..
Other Europe
Austria
Finland
Norway
Sweden
Switzerland
Turkey
Other
.. .
Japan
fi
!-i0
(D)
(94D)
<•>
1
2
5
fi
-218
19
144
8
<r!6
3
fi
n
18
51
49
-1
35
58
1
45
(D)
-40
-73
8
18
(D)
4
1
0
0
3
0
-1
n
61
6
-1
8
4
42
1
2
32
27
45
(D-1
^
0
-1
-2
7
(°)
15
97
86
-1
12
32
20
4
9
n
43
2
2
( )
n
-6
n
989
954
-22
57
( )
380
-16
(D)
538
486
3
50
8,339
850
3,493
268
817
207
5,688
85
2,311
200
545
178
South America
Argentina
Brazil
Chile
Colombia
Ecuador
Peru
Venezuela
Other
1,780
184
1,233
255
112
16
-17
27
88
(D)
-9
1,215
174
786
54
135
12
4
44
6
20
-4
-12
5
34
2
-4
-6
4
339
14
285
(*)
34
2
-9
10
3
109
19
(D)
(D)
(D)
4
-7
-1
0
0
2
1
Central America
Mexico
Panama
Other
1,940
1,204
701
35
1,006
992
-9
23
170
154
13
3
167
184
(D)
(D)
45
38
3
5
29
29
0
0
48
46
0
3
91
4
0
62
8
-12
4
25
9
0
0
(D)
(D)
1
0
4
39
4
0
(D)
(D)
-13
3
6
23
0
0
23
n0
22
8
5
0
3
15
0
1
13
8
1
0
0
1
7
0
2
4
Australia New Zealand, and South Africa
Australia
New Zealand
South Africa
Developing countries
Latin America and Other Western Hemisphere
-153
84
49
. ..
Other Western Hemisphere
Bahamas
Bermuda
Jamaica
Netherlands Antilles
Trinidad and Tobago
. . ..
United Kingdom Islands, Caribbean
Other
1,968
-142
Other Africa
Saharan
Eqypt
Libya ...
Other
Sub-Saharan
Liberia
Nigeria
Other
Middle East
Israel
Saudi Arabia
United Arab Emirates
Other
Other Asia and Pacific
Hong Kong
India
Indonesia
..
Malaysia
.
Philippines
Singapore
South Korea
Taiwan
Thailand .
...
Other
.
..
. ...
.. ..
...
. ..
International
Addendum-OPEC2
* Less than $500,000 (±).
Suppressed to avoid disclosure of data of individual companies.
1. See footnote Liable 11.2.
D
D
8
14
29
17
8
85
(DD)
( )
6
1,567
114
101
(D)
146
(D)
(
86
143
132
-3
14
-57
3
18
-79
16
109
112
-7
4
-92
2
53
'i
13
-147
D
( )
8( )
D
0
0
3
0
n
(DD)
(D)
697
76
404
84
133
339
5
34
111
189
229
(D)
(D)
1,868
325
66
294
92
98
512
191
167
159
-36
410
37
-1
316
(D)
(D)
63
61
(D)
(D)
-50
930
26
51
17
99
98
409
38
123
55
16
°4
1
20
6
15
3
4
0
112
-2
23
7
1
46
-1
-5
23
10
10
44
-64
935
546
236
1
180
0
-8
-1
0
-1
0
0
(
( 0)
-7
n0
0
0
8
0
0
fi
n
-1
-1
-fl
201
s
-1,009
-278
I
-307
(°)
(D)
-253
-44
-27
-17
0
184
fi43
0
220
(D)
81
82
n
-4
1
(D)
1
n
n
(27D)
1
4
-74
9
1
n
(°)3
9
-1
3
_7
(D)
16
13
1
2
(D)
138
37
(D)
277
n0
17
81
100
-19
-1
469
406
543
784
737
-322
3,187
116
135
7
525
721
311
-209
2,854
134
202
106
-45
5
-48
(•)
0
201
(D)
198
(D)
177
1
136
(D)
-11
90
28
-3
65
4
(D)
-5
-1
231
5
106
120
-5
-1
110
1
115
10
1
n
-16
9
n6
n
-26
2
4
2
-2
1
(D)
n
484
-13
356
33
34
5
13
57
-1
324
324
0
0
222
217
(D)
(D)
71
46
8
-115
-7
-109
878
66
807
5
10
5
2
3
73
99
-7
-20
4
0
0
0
0
0
1
3
0
0
0
0
0
0
0
0
15
0
0
2
0
1
0
12
62
-37
24
(D)
-2
-3
(D)
(D)
1,745
12
1,501
n
14
155
-3
2
11
0
(D)
"I
n
fi
1
1
1
0
1
-1
0
17
10
9
0
05
0
0
5
4
3
3
0
0
1
0
0
1
5
3
-1
4
0
2
1
24
12
4
0
8
12
-6
-2
-2
(*)
0
-1
28
(D)
10
(D)
-3
-17
2
64
-8
10
8
12
8
-54
-87
17
1
5
-21
-70
92
-12
(D)
(D)
176
162
-2
3
(°)
n
382
95
1
(D)
(D)
9
74
81
48
22
(D)
70
46
9
145
1
0
0
0
0
n0
0
n
n
n0
0
0
0
0
0
(
n
n
-1
0
q
0
-12
1
0
(D0
332
21
14
319
-3
13
0
n
380
4
5
4
0
23
176
4
17
22
(D)
T0
0
231
-3
55
12
-4
-5
3
-4
29
(D)
585
178
15
9
-64
438
5
4
126
(D)
(D)
-16
33
-14
116
99
2
<] l
q
n1
1
-212
-106
140
141
-5
4
D
0
0
0
0
0
0
210
-24
-2
139
98
(D)
190
(D)
47
373
n
386
(p)
75
^
0
-5
6
2
0
n
n
n
-1
n
16
16
2
fi34
n
7
(D)
D
( )
n
-183
-127
2
-1
-142
-136
-12
6
n
n
84
2
189
-18
-42
3
4
0
-1
-46
-2
(D)
(D)
44
-1
-1
0
0
45
-2
-82
27
n
(D)
(D)
113
(D)
(D)
(D)
(D)
n
19
-3
7
3
(*)
n
-1
n
(D)
0
1
8
-28
32
n
-13
-9
-6
5
6
0
-1
(*)
3
8
-12
1
(*)
n3
0
(D)
19
87
fi3
°l
{
-5
n
2
-50
108
-10
-38
-9
2. See footnote 1, table 11.1.
NOTE.—In this table, unlike in the international transactions accounts, as revised in June 1992, reinvested earnings
are shown without a current-cost adjustment.
SURVEY OF CURRENT BUSINESS
134 • August 1992
Table 14.3—U.S. Direct Investment Abroad; Reinvested Earnings, 1991
[Millions of dollars]
Manufacturing
All industries
Petroleum
All countries
18,949
2,652
Developed countries
9,478
1,595
Machinery,
except
electrical
Electric
and
electronic
equipment
Food
and
kindred
products
Chemicals and
allied
products
Primary
and
fabricated
metals
7,474
1,535
2,675
278
128
4,103
1,011
1,784
265
-242
Total
Wholesale
trade
Finance
(except
banking),
insurance,
and real
estate
Services
Other
industries
Transportation
equipment
Other
manufacturing
373
584
1,902
1,707
-1,484
7,404
538
657
138
-105
1,252
963
-1,771
4,008
315
267
Banking
Canada
. . ..
524
-699
781
151
237
5
-81
-24
562
-70
-8
-6
317
67
72
Europe
....
7,960
1,917
2,863
770
1,370
217
-202
165
-652
1,194
985
-1 ,261
3,337
207
-89
6,114
91
173
959
2,258
15
932
1,322
127
2,100
89
1,581
2,554
707
19
37
122
192
-2
49
22
0
10
1,321
197
12
5
17
59
0
23
13
6
38
1
9
14
-330
-25
195
-10
-9
65
(D)
-683
16
0
33
D
( )
0
-4
-30
0
3
1,147
-65
(D)
209
336
0
103
624
119
81
135
81
7
19
94
-1,248
(D)
(D)
-64
-89
2,517
121
17
120
93
1
438
48
74
1,055
5
-4
548
181
25
(DD)
( )
10
-95
-3
20
128
-3
2
9
112
12
-1
_p
European Communities (12)
Belgium
Denmark
France
Germany 1
Greece
Ireland
Italy
Luxembourg
.
Netherlands
Portugal .
Spain
United Kingdom
;
.
.
.
.
-1,677
4
-4
280
40
650
1,511
8
458
963
91
426
19
-75
-1,349
1,846
95
-61
385
59
1,271
30
68
337
(D)
(D)
367
-2
-48
-25
-3
309
54
-9
3
59
144
46
13
995
185
<
-273
Other Europe
Austria
Finland
Norway
Sweden
Switzerland
Turkey
Other
Australia New Zealand and South Africa . . .
Australia
New Zealand
South Africa
Latin America and Other Western Hemisphere
South America
Argentina
Brazil
Chile
Colombia
Ecuador
Peru
Venezuela
Other
D
663
4
21
(D)
£!
n
27
230
63
111
(D)
44
(D)
2
362
22
-54
3
-21
406
-4
9
-13
2
-1
-4
-2
-66
30
28
474
30
(D)
0
0
3
0
D
( )
48
9
-11
1
132
96
192
107
(D)
(D)
316
252
12
51
102
96
1
5
36
-6
26
16
20
20
3
-3
8
T
-3
-3
1
0
49
51
(D)
(D)
(D)
72
-12
(D)
9,461
1,063
3,372
523
890
13
371
235
689
6,360
173
2,246
445
591
-5
-106
1,398
268
615
284
109
-55
-31
185
24
36
65
4
(D)
748
154
332
121
-5
69
(D)
31
3
1
11
220
5
163
14
31
2
0
1
3
D
( )
20
7
(D)
D
( )
1
2
11
-1
-178
(DD)
( )
0
0
5
1
n
34
27
3
4
72
72
0
0
(D)
0
0
n0
(
_o
-66
-17
26
(D)
316
283
(D)
(D)
315
229
57
7
0
-12
(D)
-5
(D)
113
-21
-39
-4
23
134
-26
326
110
-63
-75
i
-166
674
65
390
96
122
2,314
579
66
600
124
98
709
3
297
30
14
173
2
351
-180
179
5
-49
96
127
-35
600
99
(D)
632
(D)
(D)
114
4
4
(D)
-76
10
-5
-127
1,588
n
119
14
2
124
7
D0
R
(D)
8 3a
*D Less than $500,000 (±).
Suppressed to avoid disclosure of data of individual companies.
1. See footnote Liable 11.2.
-29
33
-1
-5
(D)
18
-64
7
0
0
(D)
Addendum—OPEC
-211
-1
55
7
0
-48
2
fl
182
2
-24
D
( )
n
67
(D)
-6
2
International
2
5
-24
23
2,398
-82
1,382
18
464
(D)
378
(D)
. . .
49
(D)
-67
R
1,000
32
11
9
0
3
20
0
(DD)
( )
193
(DD)
( )
-8
902
33
47
12
33
110
517
-97
194
39
15
1
()
24
1
0
0
1
23
0
R
n0
n0
0
54
6
n
(34D)
-5
22
n3
(°)
R
n
,
"I
0
2
0
-1
4
R( )
D
0
-7
T
20
<<•!
n0
0
0
0
0
0
0
n0
-11
n
<30
n
-11
0
H
-11
0
90
0
0
0
0
2
<1
n0
0
n0
1
0
fl
1
26
6
3
(D
<37
819
0
(D)
18
16
(D)
(D)
-266
327
36
97
-238
-233
]
R
fl
8
-69
2
-5
0
26
24
(D)
(D)
5
2
2
2
186
41
145
650
744
288
3,396
223
375
-489
-421
n
166
214
2,928
213
420
98
10
38
20
2
244
32
114
90
-4
-1
112
-1
99
113
10
8
131
0
n
4
47
-2
20
24
4
-5
-5
-2
14
32
29
0
3
487
487
0
0
186
180
3
3
82
48
42
-8
6
1
7
-1
835
73
757
5
13
8
3
3
115
134
1
-20
30
0
0
4
0
1
0
25
-14
161
-60
2
-1
1,850
48
1,278
-1
358
87
7
-7
2
192
(D)
29
(D)
()
0
0
0
0
0
0
0
0
(D18
n
n
4
1
1
0
0
3
0
0
3
8
7
7
0
0
1
0
0
1
4
2
1
0
1
3
0
-1
3
(D)
60
(D)
0
0
0
0
0
0
0
1
1
( )
10
(D)
2
1
1
0
0
0
0
D1
D
()
n
6
-2
6
0
-10
18
168
-30
35
-2
(D)
12
820
(D)
0
9
0
-15
-74
574
11
0
345
-4
73
(D)
(D)
133
-366
a
358
(D)
315
-5
32
4
-1
47
(D)
-12
n
18
fl
745
474
18
15
<i1
n
324
Q
97
0
61
27
33
-92
-8
-12
258
2
165
(D)
(D)
4
0
48
D
29
(D)
3
(D)
6
52
17
-27
70
14
8
n
n
-41
-45
-25
15
157
1,102
142
Other Western Hemisphere
Bahamas
Bermuda
Jamaica
Netherlands Antilles
Trinidad and Tobago
United Kingdom Islands Caribbean
Other
'
. .
Other Asia and Pacific
Hona Kona
India
Indonesia
Malaysia
Philippines
Singapore
South Korea
Taiwan
Thailand
Other
15
36
37
(1
2i
-12
70
6
78
-14
.
$
n
64
0
-17
(b)
143
()
2,563
1,577
986
1
Middle East
Israel
Saudi Arabia
United Arab Emirates
Other
.
( )
206
187
9
307
384
-2
-3
16
3
(D)
Central America
Mexico
Panama .
Other
Other Africa
Saharan
Eavpt
LiBya
Other
Sub-Saharan
Liberia
Nigeria
Other
D
(DD)
n0
n
12
1,442
1,307
98
37
. ..
-134
n
n
n
nDD
( 0)
-229
Developing countries
R( )
-187
-64
0
1
0
0
0
0
0
-1
71
(°)T23
(D)
5
-10
(D)
16
(D)
3
52
57
$
0
1
17
-126
85
3
n
-17
(D)
8
9
9
s:
!
(D
]
n
5
4
2
7
_j
565
315
fl13
(D)
81
35
57
28
25
n
-3
216
5
-40
(D)
6
0
R
fl
S3n
n
141
24
(D)
8
0
0
-11
D
( 0)
44
1
n
(D)
-14
D
( )
D
( )
fl
1
-2
70
41
(D)
fl
-69
-86
84
6
3
8
fl
4
n
^
(D)
8
7
10
-3
0
2
1
n
-9
n
-3
-3
-3
273
213
-1
-17
6
-3
71
-14
17
1
11
-9
0
3
215
-5
n
<]
15
-5
1
3
n
(
1
(
1
(D)
0
(D)
8
2
(°)(°)
18
1
(D)
107
-113
1
(D)
(D)
-3
-4
18
6
-8
16
298
35
6
2
31
13
35
2. See footnote 1, table 11.1.
NOTE.—In this table, unlike in the international transactions accounts, as revised in June 1992, reinvested earnings
are shown without a current-cost adjustment.
August 1992 • 135
SURVEY OF CURRENT BUSINESS
Table 15.1.—U.S. Direct Investment Abroad: Intercompany Debt Outflows, 1989
[Millions of dollars; inflows (-)]
Manufacturing
All industries
All countries
Developed countries
Canada
Europe
European Communities (12)
Belgium
Denmark
France
Germany, Federal Republic of
Greece . . . . . .
Ireland
Italy
Luxembourg
Netherlands
Portuoal
Spain
United Kingdom
Petroleum
Total
Chemicals and
allied
products
280
15,971
-86
-215
537
271
11,793
271
-168
416
191
234
12,741
268
837
161
374
425
533
1
-679
236
-28
-1,117
-25
n
V
1,724
-585
8
R
n
-65
-27
-61
-8
-32
-447
1,834
-23
24
-2
-5
'3
124
n
-14
0
20
1
-11
1
202
168
81
-46
R
-150
-111
3,859
-430
-47
121
5,103
86
316
108
113
115
47
D9
198
-130
91
-89
67
-1
-2
367
387
-24
5
55
8
18
30
294
299
-1
-3
4,623
-167
-34
-227
152
-1,246
159
5,279
-21
23
12
0
191
0
-28
R
-325
-1
-33
1
32
-325
.
Addendum—OPEC l*D Less than $500,000 (±).
Suppressed to avoid disclosure of data of individual companies.
-154
7
15
1
1
0
-38
-1
32
-147
2
-184
35
0
-1
15
-72
-38
46
42
-122
-188
10
-846
-11
-175
60
-106
21
-170
-452
-36
-118
27
-146
-186
International
48
n
-1(0°)
-1
n
14
73
-406
-1
-1
1
-7
68
11
-8
111
-1
2
0
-§
7
26
8
-76
(D)
n
Services
50
14,930
274
855
62
10,562
500
59
10,469
312
324
-50
5
59
0
0
10,879
148
-1
311
-1
0
Banking
-369
165
-318
206
Other
manufacturing
-117
7
0
-1
-1,317
0
-1
36
8
-17
-12
-254
-93
-2
0
9
1
R
-2
R
3
80
-1
12
-2
-2
-1
_2
-5
0
n
44
46
-1
-1
0
-5
0
n
0
1
-24
-4
0
9
178
0
0
180
0
0
-28
0
0
0
2
1
1
( )
0
0
0
J)
0
0
1
0
0
fl0
1
-388
11
3
10
0
-34
320
1
2
n
2
-14
-418
-55
0
0
0
0
0
-16
-363
10
-19
3
fl
S
0
-58
Finance
(except
banking),
insurance,
and real
estate
Wholesale
trade
0
0
8n
0
30
-1
n
0
n
-22
n
-72
'?
fl4
)
)
D
-166
fl
D
136
11
1
84
0
-192
19
21
201
0
-86
1
n
n
n
n
1
3
2
5
3
n
5
-7
2
4,368
8
-13
4,754
-7
1
0
0
0
0
0
0
0
0
0
J)
n
4
1
-4
-15
0
14
14
0
0
128
128
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
-2
0
0
1
0
0
0
-3
-2
-2
-2
0
0
0
0
0
0
-1
0
8nn
0
0
0
0
0
3
(jj
17
1
-71
0
-1
0
-1
0
0
4
0
0
§8
15
-86
1
D8
fl
fln
-30
2
0
0
-34
3
-14
0
-11
0
DO
(D)
(D)
o
8
-10
n0
n
0
-4
1
R
DO
0
0
0
0
0
0
0
0
0
55
0
0
0
0
0
-62
-156
1
12
6
61
0
0
3
3
2
-8
-10
3
20
18
-53
DO
0
fl
13
n
28
n
-1
0
-40
-92
-18
-18
487
488
-4
2
12
-61
50
2
28
-16
n
0
n
22
n
-15
2
-S
14
-7
-11
26
-3
n
-70
4
-63
-11
4,703
-31
D
24
57
-9
-33
5,257
0
-28
R
3
0
6
3j)
0
-1
15
4
6
fl
n
0
0
0
0
-11
0
-8
R
0
57
0
0
-39
3
0
-3
0
R
I?0
n
n
-53
72
0
0
0
0
0
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0
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n
-410
-2
0
1
-2
-407
0
-12
R
l?
0
0
781
-41
-119
(
0
3
66
8
n
8°
0
-1
3
1
9,026
)
-1
-11
1
-51
1
10
53
0
0
0
0
0
0
0
0
1
0
0
-63
80
3
2
n
-218
-244
27
133
0
23
18
R
11
Other
industries
D
0
Australia, New Zealand, and South Africa
Australia
New Zealand
South Africa
8
6
j)
-66
n
5
448
0
-1
3
3
11
~n
-19
-4
R
fl
-36
0
141
.
-341
-31
-672
272
Other Asia and Pacific
Hong Kong
India
Indonesia
Malaysia
Philippines
Singapore
South Korea
Taiwan
Thailand
Other
-428
160
532
-34
39
Libva
Other
Sub-Saharan
Liberia
Nigeria
Other
Middle East
Israel
Saudi Arabia
United Arab Emirates
Other
-475
436
-688
-48
-7
Other Africa
Saharan
-539
93
393
-12
-526
12,950
Other Western Hemisphere
Bahamas
Bermuda
Jamaica
Netherlands Antilles
Trinidad and Tobago
United Kingdom Islands Caribbean
Other
389
376
-104
Central America
Mexico
Panama
Other
-786
138
n
-68
.
Transportation
equipment
-90
Japan
South America
Argentina
Brazil
Chile
Colombia
Ecuador
Peru . .
Venezuela
Other
Electric
and
electronic
equipment
252
331
Developing countries
Latin America and Other Western Hemisphere
Machinery,
except
electrical
12,053
-736
Other Europe
Austria
Finland
Norway
Sweden
Switzerland
Turkey
Other
Food
and
kindred
products
Primary
and
fabricated
metals
0
0
0
()
(D)
3
4
3
(D)
{
}
D
-1
11
(D)
j)
-1
77
-6
7
-1
( )
26
0
0
0
0
-6
4
0
-1
105
n
-66
0
0
D
( )
-147
-40
-3
1
76
SR
-2
-4
0
247
-95
n
1. See footnote Liable 11.1.
2
-116
0
SURVEY OF CURRENT BUSINESS
136 • August 1992
Table 15.2.—U.S. Direct Investment Abroad: Intercompany Debt Outflows, 1990
[Millions of dollars; inflows (-)]
Manufacturing
All industries
Petroleum
Total
Food
and
kindred
products
Chemicals and
allied
products
Primary
and
fabricated
metals
Machinery,
except
electrical
Electric
and
electronic
equipment
Transportation
equipment
Other
manufacturing
Wholesale
trade
Banking
Finance
(except
banking),
insurance,
and real
estate
Services
Other
industries
All countries
5,770
1,104
1,255
764
568
502
-161
345
-2,122
1,359
-1,5 36
84
879
940
3,045
Developed countries
873
1,116
435
441
360
354
-137
190
-2,125
1,352
-1,1 64
29
-3,560
866
3,151
Canada
2,272
102
1,341
(D)
-148
291
111
(D)
(D)
(D)
149
(D)
187
(D)
393
Europe
-4,004
1,122
-1,245
192
400
96
-312
-28
-2,449
857
-1,2 27
40
^t,055
726
635
-4,129
-482
88
130
-910
13
222
533
151
729
-32
-988
-3,582
1,364
D
)
12
52
-1,357
-224
-30
345
-418
4
48
307
(D)
350
(D)
(D)
-1,012
(DD)
()
-24
46
(D)
44
fj %a
a
(D)
(D)
-182
0
-4
-641
0
D
-1,1 52
D
)
-5
-145
44
11
D
)
82
0
-4 00
D
)
-149
21
(D)
0
0
1
D0
(DD)
(D)
( )
-268
-399
(D)
582
(D)
(49)
(*)
-3,588
(D)
-97
10
(D)
-14
-3
192
118
0
188
13
-36
378
124
-242
-4
-6
112
-1
(D)
^
()
76
-2 33
D
)
-5
D
)
40
12
12
(D)
D0
(D)
26
0
(D)
53
R( )
fi
fl
T-5
-4
-85
(DD)
( )
0
34
(D)
(D)
104
9
European Communities (12)
Belgium
Denmark
France
Germany l
Greece
Ireland
Italy .
Luxembourg
Netherlands
Portugal
Spain
United Kingdom
Other Europe
Austria
Finland
Norway
Sweden
Switzerland
Turkey
Other .
D
..
Japan
Australia New Zealand and South Africa
Australia
.'.
New Zealand
South Africa
140
(D)
69
(D)
Developing countries
Latin America and Other Western Hemisphere
1
-6
72
12
333
18
25
660
D)
si
<7Dl
n
-4
1,019
438
()
101
1,586
-236
1,832
-10
D
-99
86
fi
6
3
1
2
)
Other Asia and Pacific
Hong Kong
India
Indonesia
Malaysia
Philippines
Singapore
South Korea
Taiwan ....
Thailand
Other
2
Addendum—OPEC
* Less than $500,000 (±)
D
Suppressed to avoid disclosure of data of individual companies.
1. See footnote Liable 11.2.
( )
( )
0
(D)
1
D
8
8
-127
(D)
632
275
163
152
(D)
3
22
41
-1
13
11
-1
4
-45
-1
55
39
24
47
(D)
35
9
-3
1
4
D
( )
0
12
1
(D)
(D)
16
0
(D)
0
0
D0
(D)
n
(10D)
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°!
1
°!
45
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-390
-390
-3
4
-36
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-301
274-
-3 77
-3 78
-3 78
-3
3
53
(DD)
(D)
( )
87
D
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D
605
-33
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55
143
140
170
-25
84
146
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Q)
D
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42
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74
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0
D
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0
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8
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0
flD0
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(D)
-36
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64
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52
215
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8
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(D)
13
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114
19
3°i
50
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n
219
210
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0
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1
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-54
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12
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(D)
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(DD)
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40
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11
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47
9
(D)
9
0
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3
2
32
32
0
0
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137
0
0
137
(D)
0
D0
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0
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0
0
0
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(DD)
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3
fi
(D)
0
9
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(D
0
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0
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8
1
(DD)
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0
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( 0)
(D)
a
3
0
0
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3
(D)
-20
2. See footnote 1, table 11.1.
0
0
(-1D)
2
0
9
()
(D)
n
T0
-33
(D)
0
-7
2,019
(D)
(D)
n
(D)
8
(D)
77
4,354
(D)
(D)
(D)
(D)
4
D
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D
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0
0
0
(D)
D
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26
3
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CJD0
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0
0
2
D
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-3
-16
1
(D)
3
6
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(D)
2
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(D)
9
2
0
0
0
0
(D)
-14
18
2
-1
17
(D)
-5
33
(D)
77
(D)
(D)
0
4,258
(D)
-122
(D)
-10
9
-87
(D)
8(
r!
(
°l
5,060
80
(D)
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-23
(D)
T
10
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-3
(D)
M
(D)
(D)
D
D
74
2
( 0)
8( )
(D)
1
251
4,439
-160
(D)
D0
()
n
n
-25
-17
D
55
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0
0
1
0
0
0
-2
199
(D)
(D)
(D)
63
1
(D)
-54
(D)
43
(D)
0
D
i3( )
D
(DD)
()
103
-3 72
0
0
0
0
0
0
0
0
6
6
6
0
0
0
0
0
0
8
a
a( )
7
(D)
(D)
0
0
0
0
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»
()
4
1
18
20
20
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0
-46
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(D)
0
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0
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a
a
-30
-30
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R
fl
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(D)
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0
4,837
0
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308
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0
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40
3
n
5
138
78
( 0)
-42
156
28
D
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D
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£
'•I65
( )
-25
-173
International
D
<£j
n
o
111
8
R
Middle East
Israel
Saudi Arabia
United Arab Emirates
Other
D
49
-7
(D)
(D)
148
D
.
°l
3
-1
0
80
209
D
.
(
8
l]
10
3
8D
I)
(D0
^8
322
4,485
-191
-65
(D)
5,118
(D)
..
(D)
(D)
0
1
11
820
)
8(D
)
. . .
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(D)
105
(D)
-261
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D
24
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D
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0
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0
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n
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5,070
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4.06
328
53
25
. . .
D
(DD)
()
0
-1
-2
(D)
(D)
-29
(D)
)
Central America
Mexico
Panama
Other
.
a
1
(D)
45
D
)
D
)
.
D
D
-54
24
51
16
-23
-36
-9
-55
-21
Other Africa
Saharan
Egypt
Libya
Other
Sub-Saharan
Liberia
Nigeria
Other
8
(DD)
(D)
(D)
(D)
226
(D)
-41
(D)
n0
45
1
South America
Argentina
Brazil
Chile
Colombia
Ecuador
Peru
Venezuela
Other
Other Western Hemisphere
Bahamas
Bermuda
Jamaica
..
Netherlands Antilles
Trinidad and Tobago
United Kingdom Islands Caribbean
Other
<rj
n0
q
(D)
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3
R
11
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0
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( 0)
I T
()
()
T
()
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()
D
D
11
D
D
D
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-68
-83
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)
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Di
0
-21
-13
0
(D)
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4
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a
( 0)
(DD)
( 0)
(D)
-29
(D)
0
n
3
I
3
<3D)
19
(D)
(D)
(D)
(D)
30
0
a
n
(D)
(D)
n0
(15D)
§
fi i
-64
0
0
0
0
-64
(D)
n
(D)
-84
-13
-76
6
0
232
90
0
(D)
n
(D)
-5
-5
(D)
8
fl
a
(24D)
(
rj
12
14
0
0
(D)
0
1
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n
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n
(°)D
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-42
-30
n
-47
(D)
(D)
10
22
0
n
(°)
(22D)
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4
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(D)
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2
(D)
6
«
-3
a
a( )
D
(D)
SURVEY OF CURRENT BUSINESS
August
137
Table 15.3.—U.S. Direct Investment Abroad: Intercompany Debt Outflows, 1991
[Millions of dollars; inflows (-)]
Manufacturing
All industries
Petroleum
Total
Food
and
kindred
products
-Chemicals and
allied
products
Primary
and
fabricated
metals
Machinery,
except
electrical
FI
and
electronic
equipment
Transportation
equipment
Other
manufacturing
Wholesale
trade
Banking
Finance
(except
banking),
insurance,
and real
estate
Services
Othe
indu
tries
3
All countries
-2,402
-2,981
2,943
44
192
144
1,463
391
-301
1,010
2,015
-56
-5,170
457
Developed countries
2,072
(D)
2,673
285
3
83
1,654
81
-501
1,067
1,763
-61
-1,280
424
Canada
-710
(D)
-1,192
(D)
123
(D)
190
(D)
355
Europe
3,112
-1 ,898
3,763
252
-1 ,996
-67
75
-42
17
9
179
D
( )
(D)
3,703
63
1
232
2,512
(D)
-67
European Communities (12)
Belgium
Denmark
France
Germany l
Greece
Ireland
Italy ..
Luxembourg
Netherlands
Portugal
Spain
United Kingdom
Other Europe
Austria
Finland
Norway
Sweden
Switzerland
Turkey
Other
Japan
Australia, New Zealand, and South Africa
Australia
New Zealand
South Africa
Developing countries
Latin America and Other Western Hemisphere
2,899
241
67
809
3,165
-30
-190
-340
-97
-1,124
44
815
-461
213
—32
-fl
89
-10
34
-188
-294
-114
272
-23
98
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11
175
59
18
-14
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0
32
-3
15
-20
-68
-249
29
61
-26
-5
170
R
-5
538
(D)
8H
11
-2
a
11
(D)
1
(D)
1
i
D
$
( )
49
-716
-$
-430
18
50
-2
-30
-448
6
296
-749
172
13
(D)
-71
(D)
-560
-177
10
-569
-531
50
-3
D
( )
0
288
(D)
173
(D)
(D)
-67
(D)
-524
22
-2
-641
-14
161
145
122
(D)
-38
International
-259
-365
11
n
34
24
5
-5
-6
0
11n
0
(D)
(°)
72
(D)
(D)
0
0
212
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4
63
-60
28
174
65
108
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D
fl
D
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()
()
-59
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(D)
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()
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0
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21
102
1
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)
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(D)
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0
n
40
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35
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)
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0
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(D)
15
1
1
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16
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151
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0
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0
0
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(D)
0
0
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l
0
n
-205
261
(D)
-1,719
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183
14
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3
161
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n
310
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252
5
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33
1
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177
(D)
334
(D)
-3,737
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0
0
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6
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joj
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12
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0
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n
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(
(D)
(D)
/D\
(D)
-8
(D)
-2
n0
51
j)
i
()
J3-6
-11
(D)
n2
1,056
0
-1
-17
0
161
29
14
13
(D)
-5
(D)
0
133
-142
-363
0
-28
-27
-21
(D)
-1
D
)
-3
13
0
Addendum—OPEC2
-8
66
35
-3,472
-46
(D)
H
-1,101
44
(D)
308
(D)
39
D
)
-10
220
D
129
-23
(D)
()
(D)
8
-89
-2
0
29
1
4
-34
-244
-38
-34
14
-17
(
j
(D)
0
131
(D)
0
-20
(D)
(D)
(D)
-111
35
88
-17
-36
30
D
-3,396
-28
D
1 112
61
Central America
Mexico
Panama
Other
* Less than $500,000 (±).
D
Suppressed to avoid disclosure of data of individual companies.
1. See footnote 1, table 11.2.
3
-44
9
-18
9
101
189
-115
Other Asia and Pacific
Hong Kong
India
Indonesia
Malaysia
Philippines
Singapore
South Korea
Taiwan .
Thailand
Other ....
a•i
355
-1 ,655
'105
1 755
-241
-101
Middle East
Israel ....
Saudi Arabia
United Arab Emirates
Other ....
5
4
61
(D)
-1 ,471
-61
0
0
D
( )
0
1
(D)
1,106
270
(D)
-1
(D)
-9
(D)
25
(D)
Libya
Other
Sub-Saharan
Liberia
Nigeria
Other
-100
-61
1,611
-24
(D)
-993
-23
Egypt
D
( )
(D)
(D)
16
20
1,449
1,766
(D)
-3
-35
(D)
0
6
-3
-1
4
(
(
(D)
-11
-4,214
41
-61
-32
22
(D)
(D)
(D)
(D)
97
Other Africa
Saharan
n
12
South America
Argentina
Brazil
Chile
Colombia
Ecuador
Peru .
Venezuela
Other
Other Western Hemisphere
Bahamas
Bermuda
Jamaica
Netherlands Antilles
Trinidad and Tobago
United Kingdom Islands, Caribbean
Other
8
375
li
D)
21
-4
(D)
193
(D)
-13
(D)
0
-1,726
-82
81
234
(D)
D
)
2. See footnote 1, table 11.1.
<°)
(
SURVEY OF CURRENT
August 1992
BUSINESS
Table 16.1.—U.S. Direct Investment Abroad: Income, 1989
[Millions of dollars]
Manufacturing
All industries
Petroleum
Food
and
kindred
products
Total
Chemicals and
allied
products
Primary
and
fabricated
metals
Machinery,
except
electrical
Electric
and
electronic
equipment
Transportation
equipment
Other
manufacturing
Wholesale
trade
Banking
Finance
(except
banking),
insurance,
and real
estate
Services
493
11,294
1,175
2,050
7,835
1,169
1,214
800
138
698
Other
industries
All countries
53,800
6,640
26,394
2,358
6,006
1,569
4,818
1,6 B1
5,033
4,929
5,755
Developed countries
38,116
3,780
19,790
1,673
4,546
913
4,142
772
3,914
3,830
4,452
Canada
6,475
459
3,935
274
1,094
356
340
250
750
872
354
Europe
26,978
2,651
13,174
1,103
2,806
458
2,871
387
2,866
2,684
3,236
-114
6,824
970
236
21,640
1,180
150
2,202
3,385
42
1,256
1,495
166
2,745
98
1,421
7,500
1,848
(D)
12,701
551
17
1,624
2,391
12
791
1,148
96
881
60
1,181
3,950
1,017
32
29
160
79
(D)
55
79
0
111
2,772
336
(D)
439
226
9
533
213
(D)
297
13
117
572
455
-7
4
28
187
0
24
24
5
56
1
63
69
2,659
(D)
0
488
673
0
-44
572
354
(D)
23
25
126
2,854
(D)
0
113
760
0
8
5
2,590
95
1,783
249
85
404
125
10
30
215
-130
4,383
248
14
142
470
3
821
44
235
5,338
215
106
750
283
3,966
20
-2
803
474
44
9
21
220
170
10
1
87
28
0
33
1
1
5
4
17
5
0
q
-1
3
212
-4
European Communities (12)
Belgium
Denmark
France
Germany, Federal Republic of
Greece
Ireland
Italy
Luxembourg
Netherlands
Portugal
Spain
United Kingdom
Other Europe
Austria
Finland
Norway
Sweden
Switzerland
Turkey
Other .
R
357
2
6
-9
2
128
4
-4
1,268
-1
B
393
fl( )
D
0
D
n
12
-9
0
,8
&
fl
Rn
-2
n
45
39
5
75
D
)
<?
R
56
1,299
32
9
0
1
1
19
2
0
12
3
0
0
9
0
n
n
SI
339
D
( )
170
215
(D)
212
7
102
1,000
n
295
6
120
244
94
8
8
(D)
(D)
44
6
2
42
1,171
(D)
(D)
1,453
143
fl
Japan
2,083
272
1,488
()
197
23
( )
114
146
93
430
Australia New Zealand and South Africa
Australia
New Zealand
South Africa
2,581
2,236
79
265
398
306
(D)
(D)
1,191
981
61
150
76
53
2
22
(D)
88
22
20
1
182
(D)
n
151
143
(D)
(D)
9
431
428
-7
10
15,530
2,840
6,604
R
(D
^
450
396
34
19
685
1,460
656
676
908
1,120
1,099
9,332
345
4,889
550
899
564
389
471
1,049
967
South America
Argentina
Brazil
Chile
Colombia
Ecuador
Peru
Venezuela
Other
4,130
262
3,321
273
84
26
83
71
40
(D)
337
29
212
4
45
2
0
38
7
437
2
397
8
43
-1
-7
-8
3
449
21
333
63
7
2
3
20
366
(DD)
( )
0
4 17
D
)
20
4
D
)
762
(D)
697
676
-16
2
3,443
92
2,958
102
152
12
11
106
10
Central America
Mexico
Panama
Other
2,517
1,488
956
73
107
3
80
23
1,327
1,188
99
40
205
181
18
6
419
330
(D)
(D)
66
57
R
23
23
0
0
50
47
0
3
287
287
0
0
2,685
144
2,618
243
-1,381
75
721
265
155
52
24
D
7
0
0
4
2
1
0
1
43
(D)
0
32
2
-8
0
(D)
49
0
0
49
0
0
0
0
n0
18
119
(D)
0
87
3
-7
1
(D)
4
0
0
0
0
0
1
3
Other Africa
Saharan
Egypt
Libya .
Other
Sub-Saharan
Liberia
Nigeria
Other
822
327
322
-9
14
495
47
196
252
575
288
295
-9
3
287
2
229
55
61
8
5
0
4
53
0
1
52
8
5
1
1
0
0
5
0
1
3
R0
0
0
3
0
0
3
Middle East
Israel
Saudi Arabia
United Arab Emirates
Other
807
101
508
74
124
243
4
26
56
157
371
(D)
4
(D)
0
-4
-1
1
4,569
1,096
89
1,252
281
262
632
245
407
276
28
1,677
(D)
-3
1,138
(D)
(D)
112
1,284
194
58
23
38
146
409
84
254
53
25
128
39
153
21
2,261
1,493
462
Developing countries
Latin America and Other Western Hemisphere
-137
173
128
Other Western Hemisphere
Bahamas
Bermuda
Jamaica
Netherlands Antilles
Trinidad and Tobago
United Kingdom Islands, Caribbean
Other
Other Asia and Pacific
Hono Kono
India
Indonesia
Malaysia
Philippines
Singapore
South Korea
Taiwan
Thailand
Other
.
.
.
. .
..
International
Addendum—OPEC l
* Less than $500,000 (±).
D
Suppressed to avoid disclosure of data of individual companies.
1. See footnote 1,table 11.1.
R
<3
R
n1
(D2)
R
-4
<J0
D
()
(D0
(D^)
0
o.
0
0
0
(D)
n
30
1
39
6
21
13
5
0
(D63
44
325
^
(D)
28
74
10
11
D
n
n0
0
2
1
n
0
(DD)
{
l
0
n
n
n0
0
0
0
0
0
( 0)
-1
(D)
n0
0
(D)
n
1
n4
«q
6
0
0
0
0
(
2
'l1
0
285
82
1
0
100
-5
87
6
0
D
)
2
0
D
)
D
)
0
0
2 84
-5
1
-3
14
22
53
16
62
23
2
-123
91
(D)
-5
-78
-40
15
-4
-9
19
9
-184
16
(D)
n
n
21
7
(D)
D
<4 )
2
fl( )
D
80
n
(49D)
30
n1
(D0)
1,096
4
-1
1,895
325
(D)
48
238
17
1
11
89
2,441
-1
0
29
14
2,398
0
2
149
1
2
(D)
-3
-2
38
(D)
(D)
n
-1D
()
117
-4
31
151
167
-15
0
95
81
4
10
64
60
3
1
249
213
(D)
(D)
1,303
615
3,459
6
704
544
203
3,042
-47
356
78
80
-47
39
460
-12
388
85
6
-1
-63
15
-91
6
1
-11
9
24
(D)
n
141
7
48
14
18
2
-1
49
5
276
262
(D)
(D)
145
(D)
(D)
-18
-6
-8
0
0
0
0
0
0
0
0
15
0
0
2
0
1
0
12
258
35
75
(D)
3
2
2
0
0
1
0
0
1
2
2
(D)
0
26
7
6
R
0
<<-i
0
0
0
0
0
68
0
1
0
0
D0
( 3)
7
0
(D)
R
41
6
(D)
(D)
".
a
1
1
n0
n
1
14
(D)
n
19
R
70
-251
<j
-1
(D)
R
132
-149
2
1
D
( )
(D)
248
25
-42
(D)
(D)
0
n
3
17
s( ) S
D
n
-6
n
n
0
1
n
(D)
(D3)
(D)
808
77
728
3
10
4
3
3
126
(D)
(D)
(D)
1,775
181
2,458
6
10
D
( )
3
1
0
6
(D)
241
16
14 ""
13
1
0
2
116
(D)
-1*8
&60
70
n
n0
0
69
(D)
0
(D)
93
(D)
H4
6
-31
n
129
(D)
(D)
8
16
17
1
(D)
8
4
(D)
662
404
H
6
(D)
11
57
55
99
34
(D)
436
153
32
1
10
59
23
87
40
254
209
0
8
-1
2
12
15
10
4
D
99
3
n
R
n
(DD)
( 4)
1
1
113
(D)
0
7
R
g
-4
2
-2
-1
-3
17
3
15
C
-1
41
19
0
214
(D)
2
77
3
H
r
n
12
3
n1
4
1
3
(°)
(°)
132
23
D
( )
-1
20
( )
85
n
119
NOTE—In this table, unlike in the international transactions accounts, as revised in June 1992, income is shown
net of withholding taxes and without a current-cost adjustment.
SURVEY OF CURRENT BUSINESS
August 1992 • 139
Table 16.2.—U.S. Direct Investment Abroad: Income, 1990
[Millions of dollars]
Manufacturing
Banking
Finance
(except
banking),
insurance,
and real
estate
5,935
261
11,800
1,379
1,860
3,240
4,245
-649
7,973
1,131
1,028
411
183
55
647
105
418
2,056
2,563
3,393
-449
7,118
974
335
284
(D)
2,049
65
880
0
(D)
-24
0
D9
2,136
330
111
522
227
(D)
77
212
-555
(D)
52
142
2,480
101
5
392
326
-2
154
227
5,665
297
(D)
158
414
-1
D
)
199
(D)
1,439
3
-23
2,694
886
45
1
101
46
1
(D)
62
0
251
(°)
91
183
317
-2
-1
(D)
122
1,454
-29
0
88
(
Machinery,
except
electrical
Electric
and
electronic
equipment
Transportation
equipment
Other
manufacturing
Chemicals and
allied
products
Primary
and
fabricated
metals
2,841
5,545
1,031
4,957
1,216
3,708
4,353
2,278
4,303
726
4,364
515
2,871
2,549
315
718
195
234
82
593
29,538
4,505
13,661
1,683
3,009
469
3,535
345
24,897
1,424
238
2,523
4,137
60
1,358
2,180
189
3,674
111
1,479
7,525
3,324
(D)
353
4
21
2,153
13,124
649
47
1,730
2,862
6
819
1,640
72
1,091
65
1,234
2,910
1,571
43
36
277
225
0
48
109
0
163
10
112
547
2,970
376
1
460
280
9
473
387
26
394
9
73
481
450
19
5
32
117
0
18
26
3
99
1
37
92
3,320
(D),
0
452
890
0
(D)
857
(D)
154
n
(D)
564
<3
-61
4,641
293
80
902
243
2,975
88
61
1,182
(D)
(D)
878
3
(D)
D
( )
-15
537
51
5
17
242
199
22
112
9
0
20
8
0
9
(,DR
^
215
(D)
(*)
6
(D)
18
-1
-2
61
(D)
0
n
39
9
0
-2
3
22
7
0
Japan
1,639
(D)
1,105
(D)
162
13
Australia, New Zealand, and South Africa
Australia
New Zealand
:
South Africa
2,113
1,925
54
134
(D)
590
(D)
109
fl
982
863
45
74
414
366
34
15
16,925
4,248
5,353
562
All countries
Developed countries
Canada
Europe
European Communities (12)
Belgium
Denmark
France
Germany1
Greece
Ireland
Italy
Luxembourg
Netherlands ..
Portugal
Spain
United Kingdom
Other Europe
Austria
Finland
Norway
Sweden
Switzerland
Turkey
Other
i
Developing countries
Latin America and Other Western Hemisphere
All industries
Petroleum
Total
55,117
10,230
23,651
37,954
5,928
18,298
4,665
708
R
584
3
4
(
°4
Food
and
kindred
products
fl
( )
D
(
1
n
46
58
1
63
T
fl
2
979
Wholesale
trade
5
"
106
21
11n
27
n
n
7
1
0
0
3
0
2
n
83
13
5
11
6
46
1
2
1,257
225
67
21
-10
929
12
14
(D)
71
73
98
440
49
31
4
14
(D)
55
(D)
13
17
16
1
0
148
149
-5
4
167
137
6
24
228
232
-5
2
1,242
305
593
701
837
1,113
-60
-117
(D)
J333
-10
n
36
-528
Services
Other
industries
n
(DD)
(39)
1
15
93
2
17
6
(D)
(D)
3
12
-1
3
184
18
(D)
-40
-23
-17
0
24
28
-11
7
34
29
2
2
(D)
206
40
(D)
1,690
910
3,827
248
649
3,331
209
361
174
2
156
10
1
56
2
22
9
-2
106
-2
fl-4
59
(D)
(D)
-215
1
1,472
0
(D)
r!
n
(D)
9,378
713
3,705
440
869
241
208
134
815
998
624
436
South America
Argentina ....
Brazil
Chile
Colombia
Ecuador
Peru
Venezuela
Other
3,227
410
2,003
319
329
53
-149
141
121
376
117
150
(D)
136
(D)
185
7
101
7
55
2
-2
6
7
446
29
342
1
56
3
-9
22
3
160
19
160
(D)
64
5
56
2
1
1
301
n
169
59
28
74
4
(D)
-4
-1
268
6
135
125
-5
1
2
1
654
-10
512
33
42
5
13
60
-1
215
4
141
(D)
3
4
ll
32
1,969
220
1,370
84
192
15
6
73
9
(D)
0
1
(D)
Central America
Mexico
Panama
Other
3,055
1,873
1,121
60
113
7
(DD)
( )
1,617
1,521
58
39
245
224
13
8
364
310
R
57
48
3
6
1,155
91
1,059
6
15
9
3
3
91
116
-7
18
Other Western Hemisphere
Bahamas
Bermuda
Jamaica
Netherlands Antilles
Trinidad and Tobago
.
.
United Kingdom Islands, Caribbean
Other
3,097
464
2,203
165
-970
(D)
780
(D)
223
10
0
0
20
(D)
R
214
-3
(D)
(D)
0
4
59
8
0
(DD)
( )
-12
3
7
1,908
181
2,063
19
119
8
0
68
17
-11
4
33
832
458
441
-3
20
374
8
158
208
622
392
394
-7
5
230
3
185
41
43
12
7
0
5
31
0
4
27
11
1
0
0
1
9
0
2
7
(DD)
(D)
( )
0
0
5
0
2
3
1,176
123
482
117
454
640
5
44
129
463
237
-1
_-i
0
-1
0
0
0
-1
5,539
1,130
102
1,776
475
232
895
259
344
293
33
2,273
37
-1
1,641
(D)
1,369
121
64
24
105
165
534
66
203
63
22
113
(DD)
()
4
1
50
6
26
9
6
0
202
2
32
11
4
63
-1
4
58
12
16
54
(DD)
()
2
1
2
2
5
5
6
0
238
54
2,853
2,148
279
13
199
-1
Other Africa
Saharan
Egypt
Libya
other T....LI :
Sub-Saharan
Liberia
Nigeria
Other
Middle East
Israel
Saudi Arabia
United Arab Emirates
Other
.
.
.
:
...
Other Asia and Pacific
Hong Kong . .
India
Indonesia
Malaysia
Philippines
Singapore
South Korea
Taiwan
Thailand
Other
International
Addendum—OPEC2
*D Less than $500,000 (±).
Suppressed to avoid disclosure of data of individual companies.
1. See footnote Liable 11.2.
(
R6
<°i
h
120
0
(
-i°i
R
R
4
"
-4
T
<30
n
fiD
(i
<°>
0
-12
8
0
n
49
49
0
0
66
63
0
3
514
514
0
0
321
312
(DD)
( )
177
136
(D)
(D)
23
0
0
23
0
0
0
0
n0
4
0
0
0
0
0
1
3
0
0
0
0
0
0
0
0
22
0
0
3
0
1
0
19
231
47
65
(D)
10
n
0
n0
(DD)
(D)
( )
0
0
5
0
0
5
5
4
4
0
0
1
0
0
1
4
4
1
0
26
10
10
(°)30
0
0
0
0
0
1
0
0
1
10
0
-1
10
in:i
0
0
0
0
0
n0
0
0
0
0
0
0
2
n0
1
0
382
58
17
0
489
17
D0
( 0)
0
227
-3
69
13
-4
(D)
-3
80
33
302
10
38
24
(D)
4
-3
-10
n
0
0
-5
7
5
0
(D)
r
!
i'-i
n
1
0
n
111
12
-2
(D)
(D)
n
16
R9
-114
-7
-108
1
381
177
2
1
0
17*1
30
-18
17
15
0
1
-35
-2
(D)
(D)
0
n
-993
2
568
87
50
n
n0
0
50
D
(D)
(D)
( )
215
53
(D)
11
(D)
-1
18
2
(D)
fl
°!
988
554
n
110
95
85
38
(D)
474
104
37
11
15
34
83
98
43
(DD)
( )
76
68
23
19
11
10
13
17
2
16
19
3
8
n
(D
]
6
2
7
0
(D)
1
1
( )
D
16
14
10
4
0
2
1
n1
93
12
4
0
8
81
-2
n
84
-20
3
-11
-9
-2
34
(D)
4
0
D
( )
232
204
_•(
3
D
)
D
)
25
1
8
3
(*)
43
21
0
-1
161
89
1
224
-13
3
n3
14
3
1
1
1
(D
i
°l
{
-5
4
2
-50
184
126
2. See footnote 1, table 11.1.
NOTE.—In this table, unlike in the international transactions accounts, as revised in June 1992, income is shown
net of withholding taxes and without a current-cost adjustment.
14O • August 1992
SURVEY OF CURRENT BUSINESS
Table 16.3.—U.S. Direct Investment Abroad: Income, 1991
[Millions of dollars]
Manufacturing
All industries
Petroleum
Total
Food
and
kindred
products
Chemicals and
allied
products
Primary
and
fabricated
metals
Machinery,
except
electrical
Electric
and
electronic
equipment
Transportation
equipment
Other
manufacturing
Wholesale
trade
Banking
Finance
(except
banking),
insurance,
and real
estate
Services
Other
industries
All countries
48,970
10,055
18,651
2,904
5,366
540
3,017
759
2,327
3,739
4,729
513
11,718
1,319
1,985
Developed countries
30,771
5,337
13,674
2,046
4,085
452
2,556
364
1,397
2,775
3,063
-1,045
7,860
1,007
875
3,075
-73
1,804
333
569
43
81
1
607
170
117
-6
796
141
295
24,129
4,165
10,271
1,446
3,064
350
1,999
282
783
2,347
2,696
-595
6,628
746
219
20,017
1,022
210
1,908
4,413
47
1,215
2,250
185
3,586
132
1,184
3,865
3,052
(D)
(D)
(D)
810
4
30
(D)
1,340
42
50
289
269
-2
49
33
0
95
2,999
334
328
18
5
39
104
0
23
14
6
54
1
27
36
1,869
-24
303
-9
-9
67
(D)
1
32
8
(D)
25
2
12
19
751
113
0
37
D
( )
0
-2
-29
0
8
2,288
29
(D)
287
493
1,588
184
90
248
215
7
25
176
-652
5,285
160
17
143
183
6
527
107
75
1,698
5
-3
2,368
661
75
205
-3
S
4
7
1,389
9,879
502
54
1,336
3,116
11
610
1,641
91
867
27
1,030
595
4,112
268
6
1,039
93
2,572
60
74
1,113
(D)
(D)
1,003
-1
34
-6
_3
392
60
0
6
71
190
52
13
105
1
0
65
(D)
22
S3
!
°i
-2
-1
29
4
(D)
flD
( )
0
130
-3
2
9
114
13
-1
-2
-22
34
1
-5
D
( )
22
32
(D)
0
0
3
0
(D)
2,363
458
927
150
226
25
(D)
62
-43
(D)
1,204
910
157
137
787
692
(D)
(D)
672
571
31
70
118
112
1
5
225
179
28
18
35
29
3
3
D
( )
30
(D)
12
19
18
1
0
50
52
n
(°)
(D)
151
5
(D)
-387
-330
-63
6
230
-5
0
17,882
4,558
4,977
857
1,281
88
461
395
930
965
1,666
1,558
9,977
866
3,424
719
899
35
-88
41
983
836
639
South America
Argentina
Brazil
Chile
Colombia
Ecuador .
Peru
Venezuela
Other
2,550
503
980
341
333
28
-15
267
113
499
225
70
(D)
123
11
-15
28
(D)
1,205
224
562
14
207
17
3
169
9
322
39
167
305
28
193
15
48
3
(D)
20
15
(D)
(D)
n
10
274
2
165
Central America
Mexico
Panama
Other
3,713
2,391
1,264
58
135
13
100
22
2,147
1,929
166
52
389
352
Other Western Hemisphere
Bahamas
Bermuda
Jamaica
Netherlands Antilles
Trinidad and Tobago
United Kingdom Islands Caribbean
Other
3,714
627
1,978
70
72
7
0
-43
(D)
-3
(D)
38
8
0
0
(D)
1,149
(D)
232
(D)
9
5
-1
(D)
(D)
39
1,112
369
344
-4
30
742
-12
640
114
952
317
301
-1
17
636
2
657
-24
47
15
10
0
5
32
0
(D)
(D)
967
90
406
127
344
390
5
-42
108
318
206
(D)
(D)
5,826
1,415
83
1,648
437
228
1,100
85
423
402
6
2,349
99
(D)
1,518
(DD)
( )
199
4
4
(D)
-62
1,300
130
56
24
42
180
640
-73
237
45
18
113
8
317
160
3,187
2,313
363
Canada
Europe
..
European Communities (12)
Belgium
.. .
Denmark
France l
Germany
Greece
Ireland
Italy
Luxembourg
Netherlands
Portugal
Spain
United Kingdom
Other Europe
Austria
Finland
Norway
Switzerland
Turkey
Other
:
Japan
Australia New Zealand, and South Africa
Australia
New Zealand
South Africa
Developing countries
Latin America and Other Western Hemisphere
Other Africa
Saharan
Libva
Other
Sub-Saharan
Liberia
Nigeria
Other
Middle East
Israel
Saudi Arabia
United Arab Emirates
Other
Other Asia and Pacific
Hong Kong
India
Indonesia
Malaysia
Philippines
Singapore
South Korea
Taiwan
Thailand
Other
International
Addendum—OPEC
2
* Less than $500,000 (±).
D
Suppressed to avoid disclosure of data of individual companies.
1. See footnote 1, table 11.2.
-596
-1
%
441
fl
3
2
23
(D)
8
q
1
0
(D)
25
1
0
0
1
23
0
8(
l
n
0
0
£
323
11
404
463
(D)
340
17
112
446
n
n
84
fl
197
fl
8
0
n
116
(D)
(D)
260
7
22
D
( )
59
12
-3
4
(D)
38
(
°2
&
33
-58
201
1,108
154
7
12
0
937
-4
14
-772
57
3
_-j
-4
-2
n
32
28
1,343
(D)
0
(D)
8
1,338
0
(D)
e~
n
34
118
0
217
35
37
38
86
1
0
10
18
69
n
(D)
<2
85
fl
n
(
2
n2
45
13
5
(D)
(°)
4
(D)
8
-209
351
94
103
-235
85
80
25
21
2
2
258
105
149
3
3,858
312
953
968
3,242
254
584
164
12
39
25
12
3
19
49
6
72
-1
21
38
4
-5
-4
-2
22
278
34
139
96
-5
142
-1
124
638
8
3
n
n
1
190
10
26
138
(D)
3
(D)
4
(°)
524
366
(D)
(D)
58
50
3
5
84
84
0
0
59
56
0
3
709
709
0
0
324
313
3
8
214
170
52
-8
17
8
9
1,027
90
•932
5
18
13
3
3
155
169
1
16
69
7
0
-8
(D)
0
0
n0
(D)
0
0
0
0
0
0
0
0
0
0
0
0
0
33
0
0
5
0
1
0
28
261
43
103
880
338
2
1,936
187
1,821
-1
93
7
-7
2
239
(D)
50
7
4
1
0
3
3
0
1
3
3
1
2
0
n
16
3
()
2
11
'<•!
0
0
0
D
4
n
(*)0
0
4
0
']
n1
4
0
51
0
n
D
n0
( )
3
2
1
1
0
6
0
0
0
0
0
0
1
(D)
8
8
7
7
0
0
1
0
0
2
1
2
0
0
2
1
0
n
60
0
0
0
0
0
52
547
56
15
0
11
0
388
-4
66
1
-2
0
-1
-2
D
0
-1
()
(D)
(D)
0
479
(D)
397
3
47
4
-1
61
(D)
5
2
2
0
0
3
0
0
3
8( )
D
-172
1
1
1
0
0
0
0
0
0
-2
1
0
0
(
4
(D)
66
4
30
7
5
D
( )
12
28
(D)
9
73
17
-22
91
15
10
47
158
16
n
n
104
441
0
-14
(D)
(D)
(D)
-59
-50
20
(D)
-30
7
-9
29
170
°l
2
(D)
1
7
5
6
0
1
0
D
( )
0
0
D
( 9)
n
-6
25
235
-20
43
8
fl
7
3
1
-61
0
1
0
0
0
c
n
(D
119
]
3
93
14
(D)
-704
n
557
75
28
10
9
0
(*)
19
(D)
4
(D)
-25
(D)
9
0
8( )
21
4
3
12
2
52
977
535
fl43
D0
()
(D
]
54
77
83
<i
n
0
n
530
14
9
(D)
130
64
102
48
27
14
-5
(D)
21
n
B
8
]
(C
?
n
563
250
(D)
18
D
D
0
0
48
(D)
0
n
n5
(D)
n
-21
45
97
42
n
29
328
249
-1
-12
7
-2
71
-6
18
3
1
37
236
()
8
,R
n0
21
(D)
9
7
10
-3
0
2
1
n
n
n
n
n
(DD)
( 0)
n
n
(°)
0
72
-3
2
-3
-3
1
(D)
(D)
20
2
(D)
52
23
0
3
258
129
1
(D)
4
n
15
2
2
4
n
n
n
-4
18
6
-8
157
n
155
2. See footnote 1, table 11.1.
NOTE—In this table, unlike in the international transactions accounts, as revised in June 1992, income is shown
net of withholding taxes and without a current-cost adjustment.
SURVEY OF CURRENT BUSINESS
August 1992 • 141
Table 17.—U.S. Direct Investment Abroad: Country Detail for Selected Items
[Millions of dollars]
Income
Capital outflows (inflows (-))
Direct investment position on a historical-cost basis
Line
1
2
All countries
Developed countries
1987
1987
1988
1989
1990
1991
314,307
335,893
372,419
424,086
450,196
28,980
17,871
30,167
34,111
28,197
38,523
50,429
53,800
55,117
48,970
237,508
252,649
278,309
318,156
335,433
19,644
12,107
20,528
20,812
19,093
29,859
37,777
38,116
37,954
30,771
1988
1987
1991
1990
1989
1991
1990
1989
1988
3
Canada
57,783
62,656
63,919
67,033
68,510
6,099
2,653
474
2,894
1,275
5,487
7,260
6,475
4,665
3,075
4
Europe
150,439
157,077
179,839
211,194
224,554
11,397
7,854
18,012
14,280
16,727
20,932
25,722
26,978
29,538
24,129
123,999
7,267
131,069
149,465
7,797
177,642
9,050
188,710
8,838
9,268
8,495
17,371
9,443
14,123
17,600
21,992
21,640
24,897
20,017
1,073
1,240
15,143
23,261
240
5,492
9,970
1,232
17,264
493
6,177
61,156
1,597
18,874
27,259
288
6,880
13,117
1,390
22,658
598
7,704
68,224
1,835
20,495
32,942
291
7,450
13,825
1,455
24,711
893
7,712
68,261
-260
674
162
1,663
-1,873
49
694
615
403
1,391
56
492
4,170
498
-30
1,205
996
-11
907
554
75
1,824
63
863
10,427
434
266
1,466
1,536
24
1,209
1,550
-606
392
252
1,994
5,735
4
774
1,047
-27
1,964
190
75
1,723
1,094
143
1,517
2,856
24
1,037
1,341
49
2,922
144
816
5,657
1,300
132
2,040
3,126
49
1,148
1,667
62
2,902
163
1,236
8,167
1,180
150
2,202
3,385
42
1,256
1,495
166
2,745
98
1,421
7,500
1,424
238
2,523
4,137
60
1,358
2,180
189
3,674
111
1,479
7,525
1,022
210
1,908
4,413
47
1,215
2,250
185
3,586
132
1,184
3,865
-640
641
13
23
-1,115
-40
1,788
35
-37
5
-21
4,836
2,604
3,332
3,730
5,338
-27
29
410
16
-1,083
28
-14
-3
0
25
10
208
-88
559
78
1,440
113
294
8
219
113
491
175
2,685
29
19
5
0
-16
215
106
750
283
3,966
20
-2
4,641
293
80
902
243
2,975
88
61
4,112
268
6
1,039
93
2,572
60
74
6
8
-2
-23
139
104
288
118
2,662
36
-15
4
0
-4
(D)
3
22
2
0
2
0
3
0
2
0
27
(D)
(
1
24
3
0
1
(D)
5
6
7
8
9
10
11
12
13
14
15
16
17
European Communities (12)
Belgium
Denmark
France
Germany1
Greece
Ireland
Italy
Luxembourg
Netherlands
Portugal
Spain
United Kingdom
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
Other Europe .
Austria
Finland
Norway
Sweden
Switzerland
Turkey
Other
Cyprus
Gibraltar
Greenland
Hungary
Iceland
Liechtenstein
Malta
:
Poland
Romania
Union of Soviet Socialist Republics ....
Yugoslavia
1,070
11,868
24,388
132
5,425
9,264
660
14,842
495
4,076
44,512
7,501
1,161
13,041
21,832
195
5,886
9,496
841
16,145
546
4,966
49,459
26,440
26,008
30,373
33,552
35,845
691
389
3,843
1,139
19,665
207
506
10
0
708
476
3,459
1,157
23,488
310
775
889
551
3,815
1,600
25,199
494
1,004
19
369
(D)
(D)
(D)
375
78
3
5
(D)
669
408
4,371
1,119
18,734
246
462
6
0
D
( )
(D)
9
377
(D)
0
3
0
(D)
(D)
1,238
418
4,248
1,693
26,443
510
1,295
26
(D)
(D)
269
(D)
392
80
23
11
2
59
8
8
413
n
344
15
3
6
336
(D)
0
4
1
(D)
1,008
644
12
908
811
-106
2,000
183
436
2,559
2,130
-56
39
327
80
1,652
-11
98
-5
0
(D)
(
ri
8
-112
3,206
27
443
-272
221
4,496
142
215
12
27
(D)
8
8
8
n
n
n
n'
n
-21
n
3
17
2
fl
2
2
0
-6
0
(D)
n
n
37
Japan
15,684
18,009
18,800
20,997
22,918
1,160
1,036
227.
836
102
1,988
2,580
2,083
1,639
2,363
38
39
40
41
Australia, New Zealand, and South Africa ..
Australia
New Zealand
South Africa
13,603
11,363
14,908
12,823
15,752
13,728
18,932
14,846
3,131
956
1,814
1,842
227
89
1,452
1,100
108
244
2,215
1,951
84
179
2,581
1,114
910
564
687
92
988
1,078
833
1,252
19,451
15,627
2,809
2,802
743
1,497
79
265
2,113
1,925
54
134
1,204
910
157
137
73,017
80,060
90,374
102,360
9,372
8,790
12,578
15,530
16,925
17,882
42
43
Developing countries
Latin America and Other Western Hemisphere
(D1
^0
73
(D)
0
-5
0
(D)
-9
(D)
0
2
0
(D)
(D1
^0
22
2
20
6
19
(D)
(D)
1
1
(D)
1,015
988
981
89
-81
-215
-254
111,608
9,669
6,290
9,338
13,607
876
1,878
48
-179
2,236
n
-7
D
()
47,551
53,506
62,485
71,593
77,342
8,132
6,042
9,011
10,727
6,134
3,848
7,044
9,332
9,378
9,977
44
45
46
47
48
49
50
51
52
53
54
55
56
57
58
South America
Argentina
Brazil
Chile
Colombia
Ecuador
Peru
Venezuela
Other
Bolivia
French Guiana
Guyana
Paraquav
Sunname
Uruguay
21,227
2,744
10,951
21,815
2,597
12,609
23,045
2,604
14,733
23,760
2,956
14,918
25,998
2,550
410
°4
14
(D)
133
°l
9
(D)
128
<1
14
(D)
128
127
146
1,555
1,744
337
352
2,785
590
203
(D)
(D)
14
102
202
4,130
262
3,321
273
84
26
3,227
1,368
1,728
387
410
1,490
503
169
1,985
327
1,294
125
101
29
-43
153
3,327
1,075
1,659
382
766
1,362
463
165
2,165
366
1,368
325
83
-8
2,869
672
2,248
431
976
1,903
379
101
1,008
115
2,189
221
1 112
-44
-88
2,845
348
3,104
466
1,022
2,095
499
172
670
-25
911
81
503
980
341
333
28
-15
267
113
24
(D)
6
4
(D)
36
59
60
61
62
63
64
65
66
67
68
Central America
Mexico
Panama
Other
Belize
Costa Rica
El Salvador
Guatemala
Honduras
Nicaragua
12,218
13,380
14,920
4,913
6,622
683
-15
141
51
174
185
147
5,712
6,874
794
-15
169
56
201
240
143
7,341
6,744
835
-11
161
57
198
317
112
17,719
9,398
7,409
23,408
11,570
10,980
912
-12
184
63
228
328
121
858
-10
172
55
212
339
90
69
70
71
72
73
74
75
76
77
78
79
80
81
82
83
84
85
86
87
88
Other Western Hemisphere
Bahamas
Bermuda
Jamaica
Netherlands Antilles
Trinidad and Tobago
United Kingdom Islands, Caribbean
Other
Antigua and Barbuda
Aruba
.
Barbados
Cuba
Dominica
Dominican Republic
French Islands Caribbean
Grenada
Haiti
St. Kitts and Nevis
St Lucia
St. Vincent and the Grenadines
14,106
18,311
24,520
3,776
19,954
30,113
3,309
21,737
27,935
89
90
91
92
93
Other Africa
Saharan
Egypt
Libya
Other
(
(
3,814
4,112
19,215
19,022
3,412
15,222
3,319
20,737
-163
64
-30
-128
-88
-72
(D)
1
-5
1,354
310
968
76
1,009
670
221
119
S
(D)
-3
4
45
27
6
23
55
8
6,107
-81
3,190
-16
2,931
-21
176
-71
(D)
4,025
103
134
352
604
667
-14,235
-9,983
-6,729
-2,229
-3,568
400
4,243
565
(D)
11
179
9
1
156
25
1
34
447
3,919
661
11
(D)
304
(D)
514
5,388
1,264
12
(D)
319
508
4,800
1,384
13
(D)
392
(D)
526
4,706
1,549
19
(D)
405
(D)
138
21
1
28
367
26
1
32
492
38
1
41
-1
(D)
605
56
3
25
-1
(D)
4
-90
12
1
6
1
(D)
3,905
4,371
1,882
1,515
238
128
301
-96
<i
4,372
2,092
1,669
310
113
(C
]
4,219
2,032
1,637
315
80
n
<q
3,921
2,115
1,750
244
121
1,849
1,465
240
144
-185
-40
-31
(D)
1
-8
(D)
12
-3
(D)
-151
55
n
n
18
n
105
781
1
3,523
-21
-491
126
(DD)
( )
126
(D)
7
-3
285
2,424
471
129
-74
-96
-95
58
42
(D)
4
-8
5
n
-19
18
8
25
89
976
1,352
2,771
2,035
3,120
2,183
979
-42
2
-36
-7
-8
10
-2
1,700
688
868
144
146
163
240
1,592
97
-2,190
48
314
62
1
2
16
5
-414
38
-19
-8
8
28
54
-25
679
57
-1
27
5
15
3
8
5,189
65
5,791
-129
-159
-819
1,217
270
4,853
-6
1,235
66
-544
-334
320
4,494
26
951
152
1
(°)
35
(D)
18
nn
fln
-85
-3
-98
«
n
-12
(D)
16
7
0
9
-377
-186
148
44
11
(DD)
( )
415
869
226
39
-46
-26
1,248
144
50
(D)
8
n
-4
-1
-162
1
-318
136
101
-7
42
133
1
(D)
61
(D)
1812
0
-902
-4
245
2
(D)
95
(D)
(*)
119
14
n
15
1 fl
-231
-235
-251
-4
20
-183
15
21
-3
-3
810
11
48
45
n
369
2,346
226
164
5
-108
273
53
-15
(°)
n
(23D)
2,070
1,253
698
119
1
23
9
33
40
13
1,647
308
2,096
153
-1,920
56
865
88
1
2
49
5
n
-137
173
128
(
r!
-6
(D)
23
2,517
1,488
956
73
1
26
9
30
24
-18
2,685
144
2,618
243
-1,381
75
721
265
1
29
87
n
n
2,003
319
329
53
-149
141
121
23
D
(n)
4
(D)
28
3,055
1,873
1,121
60
1
39
8
16
(D)
(D)
3,097
464
2,203
165
-970
(°)
780
(°)
(°)
147
8
n
157
9
0
20
8
0
6
0
4
14
7
0
6
0
2
127
7
0
6
n
fln
<(*)<>]
711
204
218
-2
-12
626
222
209
3
11
822
327
322
-9
14
832
458
441
-3
20
n
n
3,713
2,391
1,264
58
1
24
14
12
1
6
3,714
627
1,978
70
-596
(°)
1,149
(D
]
4
(D
]
(*)
163
13
1
(*)
n
1,112
369
344
-A
30
SURVEY OF CURRENT BUSINESS
14-2 • August 1992
Table 17.—U.S. Direct Investment Abroad: Country Detail for Selected Items—Continued
[Millions of dollars]
Direct investment position on a historical-cost basis
Capital outflows (inflows (-))
Income
Line
1987
94
95
96
97
98
99
100
101
102
103
104
105
106
107
108
109
110
111
112
113
114
115
116
117
118
119
120
121
122
123
124
125
126
127
128
129
130
131
132
133
134
135
136
137
Algeria
Morocco
Tunisia
Sub-Saharan
Liberia
Nigeria
Other
Angola
Botswana
Burkina
Burundi
Cameroon
Central African Republic
Chad
Congo . .
Djibouti
Ethiopia
Gabon
Gambia
Ghana ..
Guinea
Ivory Coast
Kenya
Lesotho
Madagascar
Malawi
Mali
Mauritania
Mauritius
Mozambique
Namibia
Niger
Rwanda
Senegal ...
Sierra Leone
Somalia
Sudan
Swaziland
Tanzania ..
Togo
Uqanda
Zaire
Zambia
Zimbabwe
1988
56
30
27
2,280
112
894
1,275
396
(D)
(D
o>
(
r!
37
13
3
2
244
0
63
31
73
90
-8
(D)
n
0
3
-2
1
36
3
29
-16
8
-61
(D)
-10
(D)
(D)
92
43
43
1989
1991
1990
47
29
45
1,806
196
354
1,256
234
(D)
(D)
0
311
56
36
52
2,056
193
161
1,702
229
(D)
30
8
2
2
136
0
77
85
164
115
(D)
9
3
(D)
-2
5
-7
0
36
14
2
2
459
0
85
85
163
100
(D)
-2
6
-9
0
-2
36
34
58
(D)
31
32
63
90
47
44
32
40
(D)
-80
(D)
-15
(D)
(D)
90
47
44
38
26
17
2,187
134
660
1,393
405
(D)
(D)
0
236
0
36
37
1
2
177
0
83
(D)
119
98
-9
12
2
(D)
4
-5
0
4
2
29
49
15
-90
79
-14
R
n
n
''u
282
n
T4
n
n
-17
(D)
(D)
60
63
58
138
139
140
141
142
143
144
145
146
147
148
149
150
151
152
153
154
Middle East
Israel
Saudi Arabia
United Arab Emirates
Other
Bahrain
Iran
Iraq .
Iraq-Saudi Arabia Neutral Zone
Jordan
Kuwait
Lebanon
Oman
Qatar
Syria
Yemen2
Yemen (Aden) 3
4,084
635
2,092
694
662
3,806
701
1,782
672
651
3,973
725
1,971
614
663
3,973
756
1,981
519
717
-340
-311
-167
-216
-37
2
0
D
( )
10
25
23
4
(D)
D
( )
-40
-1
0
(D)
-31
18
38
-1
(D)
(D)
-51
-1
0
(D)
-24
19
65
155
156
157
158
159
160
161
162
163
164
165
166
167
168
169
170
171
172
173
174
175
176
177
178
179
180
181
182
183
184
185
Other Asia and Pacific
Hona Kona
India
Indonesia
Malaysia
Philippines
Singapore
South Korea
Taiwan
Thailand
Other
Afghanistan
Banoladesh
Brunei
Burma
China
Federated States of Micronesia
Fiji
French islands, Indian Ocean
French Islands Pacific ...
Macau
Marshall Islands
Pakistan
Palau
Papua New Guinea
Sri Lanka
Tonga
United Kingdom Islands, Pacific
Vanuatu
Vietnam
Western Samoa .. .
17,010
4,389
439
3,070
952
1,396
2,384
1,178
1,372
1,274
556
0
12
-18
0
207
0
(D)
3
4
0
0
161
0
151
11
3
0
B
0
1987
-57
0
(D)
42
36
51
2,489
177
856
1,457
116
(D)
(D)
0
253
n
29
"
437
0
107
99
106
83
(D)
11
(D)
0
-3
n
n
33
n
-18
(D)
971
60
4,715
718
2,317
544
1,135
-65
-18
-1
0
(D
|
6
79
27
1989
1988
-5
5
n
397
-3
231
168
220
(D)
T
(
r|
5
n
50
0
-39
5
15
-18
fi
1
n
-3
-5
n
-2
-33
-2
-25
n
-4
(°)
(D)
-27
6
-4
237
154
212
-102
-28
-215
-6
H
0
(D)
-44
1
-4
7
-2
-103
-190
72
23
-2
-19
'l6
n
n
n
-122
0
20
(D)
44
10
1
0
-3
-21
-32
-1
-1
65
-1
-31
(D)
-3
(°)
(D)
_2
7
3
-270
92
-345
-20
3
20
-3
4
0
D
( )
-25
-8
15
-2
(D)
0
3
19,995
5,873
427
2,850
1,105
1,485
2,549
2,003
1,661
1,273
769
22,890
6,187
513
3,226
1,384
1,629
3,385
2,178
2,014
1,585
788
25,180
6,430
533
3,458
1,440
1,672
4,313
2,392
2,470
1,787
684
1,000
280
61
894
567
53
-18
0
307
0
(D)
3
4
-6
0
364
(D)
0
3
8
-5
0
300
(D)
0
6
D
( )
n0
186
0
193
13
3
(
<i
n0
192
0
155
15
3
-1
(D)
0
1
%
J
8
-8
(D)
350
6
0
6
(
rj
1
227
2
-32
18
4
-1
(D)
0
1
1
201
16
4
(
'i
186
International
3,782
3,184
3,737
3,570
3,155
187
Addenda:
OPEC4
9,899
8,827
7,889
8,470
11,028
n
-138
133
80
-105
-153
127
0
1
-2
0
98
0
(D)
n
n
n0
32
0
15
D
D0
( 0)
n
-333
4
1
11n
n
410
24
(D
J
17
(D)
-3
1
(D)
1
-2
0
-1
-1
n
-10
n
(D)
n
n
4
9
8
17
73
-16
-208
-54
-1
n0
<1
-5
5
2
(D)
(D)
0
779
425
78
111
-27
-28
-255
141
191
0
0
86
0
14
-1
n0
(
-134
18,528
5,240
436
2,921
1,135
1,513
2,311
1,501
1,621
1,132
719
n
14
-276
-290
-204
-171
(D)
R
n
13
9
6
6
4
-4
(D)
(D)
0
(D)
R
-59
-6
179
156
345
183
182
0
1
-3
0
103
0
(D)
39
1991
284
-4
(D)
(D)
0
-29
-153
-188
(D)
-322
9
3
30
-454
22
-59
15
67
8
(D)
(D)
n
1990
1
1
( 0)
n
-526
-937
201
37
109
129
0
1
-1
0
56
(D)
(
r!
n
(
n
0
318
0
12
1
-8
-14
(D)
-3
2
(D)
1
-2
0
-2
-1
-1
18
(D)
-31
(D)
(D)
-S16
n
fl
0
n
302
-317
-3
1
—1
-198
-20
627
-805
-131
(D)
(D
l
-29
n
-6
(D)
-2
-21
0
22
13
-650
'1
-1
n
n
(D6)
572
79
35
26
432
127
39
]
<3
3
-9
2,547
194
66
376
258
169
621
272
199
299
93
0
2
-1
0
35
(D)
0
3
(D)
44
1
fl0
n
-2
1
0
24
(D)
25
9
-1
-7
1
(
565
39
567
-97
55
-47
-6
(D)
23
-2
1
4
(D)
(D)
n
8
2
-3
-5
8
17
(
11
5
-28
508
23
216
268
(D)
(D)
2
0
(D)
n
-1-1i
-1
<i
12
18
(D)
1989
1988
(D)
9
q g
1
-46
0
109
3
1987
ft
D
()
-2
-26
(D)
3
1
9
7
10
528
70
375
155
-72
-105
-6
n0
1
8
4
0
h
(D)
(D)
0
2,848
455
107
298
107
20
966
207
481
160
48
0
4
-3
(D)
38
(D)
0
3,703
1,024
81
939
227
167
670
125
307
160
1
0
3
1
0
-76
0
1
(D)
n
404
40
143
220
(D)
(D)
0
(D)
n
fl«
9
-1
-3
1
2
-1
-2
0
-2
0
2
n
n
_3
-1
-2
-1
1
8
n
-32
42
-2
1
o
10
n
-1
n
n
fln
-3
1
8
10
0
6
10
11
773
86
461
91
134
18
-6
807
101
508
74
124
-30
-1
1
2
-1
11
1
(D)
-1
5
^4
9
4
n0
n0
n
-6
n
n
(0)
n
n
0
n
17
11
13
1,176
123
482
117
454
-29
(
ri0
n
24
(
1
11
6
13
742
-12
640
114
(D)
n
0
(P)
fl( )
D
n
0
25
0
4
(°)
8
6
-1
-6
1
1
-1
0
-2
0
-2
n
n
(
l
n
n
n9
10
11
967
90
406
127
344
-11
n
<3
8n
20
(D)
175
n
(D0)
R
4,569
1,096
89
1,252
281
262
632
245
407
276
28
0
3
(D)
0
-54
5
0
5,539
1,130
102
1,776
475
232
895
259
344
293
33
0
3
(D)
0
-25
5
0
1
3
5,826
1,415
83
1,648
437
228
1,100
85
423
402
6
0
4
(D)
50
0
6
D
( )
1
71
1
-45
D
( )
22
1
-28
4
n
2
0
n
<3n
<1
4,135
997
92
848
382
230
765
192
334
270
25
0
2
(D)
0
-39
0
n
0
4
0
n
0
3
-1
-3
1
1
-1
3
0
0
0
R
41
15
-1
-3
1
n
n
n
R
54
0
12
3
fl
(D)
'?j
0
10
(D)
n
-9
1
-41
2
n0
10
7
3
374
8
158
208
(D)
10
0
1
fl
n
9
7
-1
495
47
196
252
(D)
<3
«
30
-9
n
n
n0
n
1991
1990
4
(
l
26
0
14
n2
1
n
n
n
n
(^0
1
7
n
n
n
0
n
-308
-267
-126
74
153
238
317
1,055
2,239
1,881
1,826
2,261
2,853
3,187
3. Beginning in 1990, data are included in Yemen.
* Less than $500,000 (±).
D
4. See footnote 1, table 11.1.
Suppressed to avoid disclosure of data of individual companies.
1. For 1987 through 1989, this line includes only the Federal Republic of Germany. Beginning in 1990, it also NOTE.—In this table, unlike in the international transactions accounts, as revised in June 1992, income and capital
includes the former German Democratic Republic (GDR). This change has no effect on the data because there
outflows are shown without a current-cost adjustment, and income is shown net of withholding taxes.
were no affiliates of U.S. companies in the former GDR in these years.
2. Prior to 1990, Yemen included only Yemen (Sanaa). Beginning in 1990, it also includes Yemen (Aden).
SURVEY OF CURRENT BUSINESS
August 1992 • 143
Table 18.—U.S. Direct Investment Abroad: Industry Detail for Selected Items
[Millions of dollars]
Direct investment position on a historical-cost basis
Income
Capital outflows (inflows (-))
Line
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
All industries
Petroleum
Oil and gas extraction
Crude petroleum extraction (no refining)
and natural gas
Oil and gas field services
Petroleum and coal products
Integrated petroleum refining and extraction
Petroleum refining without extraction
Petroleum and coal products, nee
Petroleum wholesale trade
Other
Petroleum tanker operations
Petroleum and natural gas pipelines
Petroleum storage for hire
Gasoline service stations
Manufacturing
1987
1988
1989
314,307
335,893
372,419
424,086
450,196
28,980
17,871
30,167
34,111
28,197
38,523
50,429
53,800
55,117
48,970
59,774
32,223
57,807
30,319
51,393
27,788
56,957
29,436
59,160
31,399
2,355
1,793
-2,922
-2,522
-6,432
-3,473
4,240
1,509
1,361
1,582
7,317
4,784
7,727
4,657
6,640
4,135
10,230
7,214
10,055
6,781
27,666
4,557
17,638
10,401
7,038
199
8,365
1,548
798
318
243
189
26,936
3,383
17,758
9,911
7,654
193
8,078
1,652
834
350
247
221
24,575
3,213
16,332
9,606
6,534
191
5,372
1,901
881
351
190
479
26,512
2,924
18,440
11,122
7,099
220
6,882
2,199
1,142
290
227
540
28,375
3,024
18,620
10,609
7,754
257
6,431
2,710
1,247
556
247
659
2,079
-1,543
1,473
109
4,884
-979
-3,450
-24
-2,087
-2,611
519
6
1,883
-286
-185
-589
170
8
50
19
93
1,509
1,058
415
36
892
132
23
60
19
31
4,617
40
1,948
1,041
871
36
937
184
52
44
15
73
4,106
29
1,712
1,170
513
29
584
209
91
27
15
76
7,177
37
1,810
1,404
374
32
822
385
122
32
17
213
6,570
211
2,167
1,095
1,033
40
721
385
102
70
15
198
1990
1987
1991
1988
165
209
-76
33
359
37
-44
28
1989
2
2
12
-15
3
13,341
11,139
12,312
18,617
25,963
26,394
23,651
18,651
1,463
816
522
294
-90
736
84
178
598
1,619
358
372
-15
587
674
-72
105
294
346
2,106
546
440
107
545
1,015
61
146
87
721
2,372
618
417
202
692
1,062
43
160
91
768
2,358
454
370
84
821
1,083
42
195
192
654
2,841
597
497
100
881
1,363
68
298
212
784
2,904
622
534
89
973
1,308
7
299
251
752
2,468
1,243
570
170
166
319
1
318
3,284
705
1,288
568
251
472
1
471
4,228
1,847
1,284
482
89
525
86
440
6,312
2,929
1,828
715
133
706
128
578
6,006
2,686
1,867
771
90
592
3
589
5,545
2,142
1,784
803
194
621
3
618
5,366
1,486
1,995
1,020
268
596
3
593
-362
1,573
640
61
580
933
82
275
1,569
498
93
405
1,071
189
394
1,031
201
48
153
830
251
305
540
-81
35
187
956
343
94
249
613
79
199
-2
-4
5
2
21
44
25
86
16
66
31
100
85
13
2
3
90
9
3
-2
761
-4
^145
131,645
138,725
144,679
164,466
175,413
12,646
8,077
12,682
3,612
2,410
1,202
2,891
6,179
253
825
561
4,541
13,281
4,203
2,856
1,347
2,557
6,521
244
711
795
4,772
13,069
3,243
2,787
455
3,332
6,494
268
631
1,155
4,440
15,906
4,351
3,485
867
3,705
7,849
396
1,003
1,300
5,149
17,093
4,544
3,695
849
4,326
8,223
307
1,043
1,577
5,295
761
168
132
37
-50
643
-21
102
84
478
405
443
376
67
27
28
29
30
31
32
33
34
Chemicals and allied products
Industrial chemicals and synthetics
Drugs
Soap, cleaners, and toilet goods
Agricultural chemicals
Other
Paints arid allied products
Chemical products, nee
27,789
12,721
7,428
3,512
720
3,408
553
2,855
31,367
14,653
8,349
4,036
871
3,457
553
2,905
33,485
16,028
9,331
4,145
909
3,073
38
3,034
37,427
17,906
10,012
4,766
1,043
3,700
39
3,661
40,229
18,734
10,902
5,188
1,390
4,015
40
3,975
2,970
1,414
814
447
64
231
35
36
37
38
39
40
41
42
Primary and fabricated metals
Primary metal industries
Ferrous
Nonferrous
Fabricated metal products
Metal cans and shipping containers
Cutlery, hand tools, and hardware
Plumbing fixtures and heating equipment ex electric
Fabricated structural metal products
Screw machine products, bolts, etc ........
Metal stampings and forgings
Fabricated metal products, nee, ordnance and services
6,279
2,019
1,300
719
4,261
639
636
7,939
2,648
1,419
1,229
5,291
869
709
8,510
2,026
564
1,462
6,484
2,027
1,432
10,410
2,636
636
2,000
7,774
2,368
1,550
10,481
2,553
556
1,997
7,928
2,272
1,736
341
202
370
228
296
214
677
203
336
232
874
444
190
77
100
695
176
73
97
671
148
77
99
43
44
45
46
47
48
49
2,068
2,214
2,815
2,926
141
25,531
30
28,638
29,781
2,287
-218
-179
-105
155
1,813
425
197
-12
81
3,898
19,857
5,102
1,176
182
907
1,119
1,175
1,285
'- 1,373
1,367
661
465
840
463
794
378
987
477
10,055
1,810
10,674
1,347
12,113
1,979
61
62
63
64
Electric and electronic equipment
Household appliances
Radio, television, and communication
equipment
Electronic components and accessories
Other
Electric lighting and wiring equipment ....
Electrical machinery nee
1,005
4,821
2,418
757
1,661
1,336
5,518
2,473
783
1,691
65
66
67
Transportation equipment
Motor vehicles and equipment
Other ..„
18,752
17,619
1,133
68
69
70
71
72
73
74
75
76
77
78
79
80
81
82
83
84
Other manufacturing
Tobacco manufactures
Textile products and apparel
Textile mill products
Apparel and other textile products
Lumber, wood, furniture, and fixtures
Lumber and wood products
Furniture and fixtures
Paper and allied products
Pulp paper and board mills
Miscellaneous converted paper products
Paperboard containers and boxes
Printing and publishing
Rubber products
Miscellaneous plastics products
Glass products
Stone, clay, and other nonmetallic mineral
products
Instruments and related products
Scientific and measuring instruments
Optical and opthalmic goods
Medical instruments and supplies
Photographic equipment and supplies ....
Watches, clocks, and watchcases
Other
Leather and leather products
Miscellaneous manufacturing industries ..
85
86
87
88
89
90
91
92
93
19
-20
19
90
26,652
238
3,581
17,172
4,748
1,002
502
787
58
59
60
-133
1,571
2,999
18,796
4,620
893
485
764
57
140
25
27,766
259
2,946
20,338
4,223
767
480
731
56
-169
Machinery except electrical
. .
Farm and garden machinery
Construction, mining, and materials handling machinery
Office and computing machines
Other
Engines and turbines
Metalworking machinery
Special industry machinery
General industry machinery and equipment
Refrigeration and service industry machinery
Machinery, except electrical, nee
3,606
20,649
5,705
1,089
777
931
50
51
52
53
54
55
394
-100
1991
1990
1989
1988
129
60
29
1
38
-840
Food and kindred products
Grain mill and bakery products ...
Grain mill products
Bakery products
Beverages
Other
Meat products
. ..
Dairy products
Preserved fruits and vegetables
Other food and kindred products
-163
-374
1987
1,676
1,491
172
13
740
315
219
-62
26
132
-83
17
18
19
20
21
22
23
24
25
26
16
1991
1990
-274
236
-109
-49
208
186
3,917
2,166
1,017
502
91
141
27
115
-874
-357
-2,239
432
-2,671
954
928
23
12
215
678
3,674
1,973
1,268
259
7
167
n
167
-124
1,391
430
-36
466
961
219
112
217
1,102
272
704
1,426
441
49
392
985
158
163
-5
70
29
96
-96
30
8
-9
114
-9
-4
-6
640
-462
-679
371
33
-205
-78
103
25
-285
-604
-116
621
148
275
59
9
5
3
193
569
132
159
363
385
174
122
950
130
1,625
109
3,606
-143
4,497
-18
4,818
118
4,957
-43
763
84
3,017
-32
81
482
296
446
78
74
-92
790
817
23
596
36
39
3,350
360
35
6
72
308
3,644
563
74
27
84
466
3,522
712
95
44
117
4,070
510
63
27
117
2,801
473
79
30
129
441
-173
-589
-262
(D)
n
-224
378
92
15
-25
459
53
32
20
27
73
182
70
50
124
154
186
135
118
1,017
523
72
60
187
37
73
99
115
83
116
-5
50
73
140
84
168
102
100
67
98
19
13,900
2,266
15,334
2,530
934
225
437
1,253
618
952
-45
1,590
688
1,154
183
1,866
166
1,681
168
1,216
27
759
93
1,731
5,729
2,673
95
2,578
2,092
6,398
3,145
89
3,056
2,131
7,678
2,995
190
2,805
383
280
394
324
5
319
122
875
-95
20
-99
831
239
108
131
260
1,200
240
90
150
479
719
315
3
312
300
623
266
&
187
433
46
13
33
19,148
18,318
830
20,621
19,832
789
21,688
20,936
751
980
958
22
2,526
2,342
184
4,530
4,600
-70
5,033
5,041
-7
3,708
3,635
'
74
2,327
2,300
27
28,323
4,346
1,453
990
463
522
320
202
5,557
1,701
3,114
742
879
2,794
2,304
1,150
29,664
3,639
1,470
999
471
646
437
209
6,034
1,887
3,382
765
1,006
3,184
2,892
1,009
31,351
1,836
1,524
1,115
409
759
516
243
8,806
2,395
' 164
6,247
1,248
3,086
2,738
1,009
3,596
683
207
206
1
88
-13
101
1,049
330
15
705
73
288
464
-27
3,576
682
227
243
-16
-20
-31
11
1,181
407
15
759
103
243
173
227
4,042
380
240
128
112
67
47
20
881
366
444
71
145
476
450
214
4,813
442
215
129
86
90
60
30
976
408
530
38
195
674
452
258
4,929
539
235
136
100
89
67
23
1,206
408
27
770
191
462
432
174
4,353
589
176
99
78
38
13
25
967
186
26
754
187
285
392
148
3,739
851
171
85
86
-12
-11
_-|
1,240
7,179
1,836
5
1,219
4,110
9
898
93
805
1,398
7,466
1,920
44
1,540
3,948
15
920
103
817
1,522
7,798
1,474
25
1,840
4,442
17
1,026
84
941
-78
591
58
1
271
257
5
257
5
252
31
625
483
1
70
68
3
104
-6
110
174
942
162
(°)
242
542
254
1,143
203
1
316
619
4
113
7
106
257
1,159
88
1
355
714
1
184
10
175
200
1,175
104
1
379
689
2
197
4
193
121
989
172
1
371
438
7
151
-6
157
-550
814
282
237
45
369
513
105
94
11
23,057
22,314
743
2,366
2,311
55
1,143
1,241
-98
2,707
2,569
137
36,499
2,773
1,752
1,294
458
908
529
379
9,967
2,727
196
7,044
1,381
3,278
3,325
1,257
39,439
3,346
1,954
1,484
470
854
545
309
1 1 ,050
3,185
210
7,655
1,467
3,581
3,532
1,445
2,986
395
217
121
96
38
16
21
531
47
187
297
172
334
336
61
957
4,662
1,515
8,889
1,575
26
2,225
5,042
21
1,455
93
1,362
1,465
9,267
2,107
27
2,216
4,892
24
1,481
88
1,393
50
881
316
-69
185
456
-7
-30
6
-36
-387
-607
-23
-10
-14
18
-7
26
395
124
251
20
-142
601
470
-107
149
226
^9
39
300
-72
8
-23
7
-29
-157
409
-10
419
-926
76
73
3
114
69
45
4,331
721
26
3,583
292
65
125
-108
205
501
-235
-5
231
510
1
-13
10
-23
-340
75
283
385
-101
-115
B
7
65
552
20
15
518
155
320
349
92
SURVEY OF CURRENT BUSINESS
144 • August 1992
Table 18.—U.S. Direct Investment Abroad: Industry Detail for Selected Items—Continued
[Millions of dollars]
Income
Capital outflows (inflows (-))
Direct investment position on a historical-cost basis
Line
1987
1988
1990
1989
1987
1991
1988
1989
1987
1991
1990
1988
1990
1989
1991
4,729
2,446
408
-2
59
330
31,847
21,995
1,265
58
494
2,275
373
407
405
456
493
21
24
102
103
104
105
106
107
108
109
110
Wholesale trade
Durable goods
Motor vehicles and equipment ...
Lumber and other construction materials ....
Metals and minerals
Electrical goods
Hardware, plumbing, and heating equipment and supplies
Farm and garden machinery and equipment
.
Machinery, equipment and supplies, nee ....
Durable goods nee
Nondurable goods
Paper and paper products
Drugs, proprietaries, and sundries
Apparel, piece goods, and notions
Groceries and related products
Farm product raw materials
Nondurable goods, nee
1,418
13,795
2,316
9,853
407
2,102
504
1,374
940
4,525
1,796
14,272
2,626
10,222
473
2,314
386
1,633
937
4,479
11,576
5,742
1,028
10,863
441
2,832
459
1,150
1,104
4,877
11,949
5,697
1,149
12,675
476
3,429
482
880
1,146
6,262
13,543
5,662
1,515
15,326
568
3,477
802
1,849
1,372
7,259
348
1,208
443
1,549
119
181
124
237
133
755
333
689
286
935
71
212
-89
345
8
388
111
Banking
18,027
19,109
19,077
19,783
18,756
-1,141
-336
112
Finance (except banking), insurance, and real
estate
Finance except banking
Franchising, business
Other
Insurance .
Life insurance
Accident and health insurance
Other
Real estate
Lessors of agricultural and forestry real estate
Real estate nee
Holding companies
Nonbusiness entities, except Government
53,046
5,003
155
4,848
11,634
1,839
917
8,879
1,868
63,386
10,803
99
10,704
13,221
2,068
1,007
10,146
1,857
96,828
23,517
93
23,425
14,230
1,770
1,045
11,415
2,025
112,374
29,449
99
29,349
16,087
1,991
1,178
12,918
1,860
117,094
28,613
126
28,487
16,354
4,033
1,441
10,880
2,050
12,286
5,847
0
1,868
34,541
0
0
1,857
37,506
0
0
2,025
57,055
0
0
1,860
64,977
0
Services
Hotels and other lodging places
Business services ... .
Advertising
Management, consulting, and public relations services
130
Equipment rental (ex. automotive and computers)
131
Computer and data processing services
132
Other
133
Research and development and testing
laboratories
134
Employment agencies and temporary
help supply services
135
Motion pictures, including television tape and
136
film
137
Engineering, architectural, and surveying services
138
Health services
139
Other services
140
Automotive rental and leasing
141
Accounting, auditing, and bookkeeping
services
142
Legal services
143
Educational services
144
Other services provided on a commercial
basis
6,706
754
2,977
444
7,869
789
3,469
526
9,222
886
5,306
895
11,401
997
6,238
923
441
596
32
43
209
121
94
-42
-25
38
104
250
7
-8
7
Other industries
Agriculture, forestry, and fishing
Agricultural production - crops
Agricultural production — livestock
Agricultural production - beef cattle
feedlots
Agricultural services .
Forestry
Fishing, hunting, and trapping
Mining
Metal mining
Iron ores
Copper, lead, zinc, gold, and silver ores
Bauxite and other aluminum ores
Other metallic ores
Metal mining services
Nonmetallic minerals
Coal
Nonmetallic minerals, except fuels
Construction
Transportation, communication, and public
utilities
Transportation
Railroads
Water transportation
Transportation by air
Pipelines, except petroleum and natural
gas
Travel agents
Transportation and related services, nee
Communication and public utilities
Communication
Electric, gas, and sanitary services
Retail trade
Food stores and eating and drinking
places
Retail trade nee
13,262
551
358
106
14,942
561
397
62
15,900
523
346
63
20,888
607
373
117
23,187
558
429
72
-2,091
51
26
3
1,053
21
47
-42
1,675
-8
-19
2
4,144
74
33
39
2,846
-36
65
-51
1,087
85
52
6
1,532
105
71
2,050
50
24
4
1,860
-18
-23
6
1,985
-47
1
-20
0
1
63
22
4,745
2,753
784
1,660
0
-6
(D)
(D)
4,236
2,552
407
1,737
-24
387
45
1,684
1,330
354
892
0
-6
77
45
4,652
3,105
452
2,050
(D)
492
(D)
1,548
1,190
358
1,087
0
(D)
(D)
48
4,555
2,808
463
1,710
(D)
451
(D)
1,746
1,414
332
1,280
0
(D)
0
1
(D)
(D)
-78
68
130
-85
(D)
(°)
0
0
0
(D)
(D)
379
400
46
166
(D)
97
(D)
-20
-28
8
112
0
(D)
(D)
3
215
-7
8
-24
(D)
-26
(D)
222
238
-16
177
0
0
0
0
(D)
(D)
632
683
101
319
-6
268
1
-51
(D)
(D)
92
0
0
(D)
(D)
505
458
fl( )
1,992
1,649
343
969
0
1
(D)
(D)
4,850
3,008
898
1,763
112
220
15
1,842
1,390
452
1,057
195
(D)
194
2
48
19
28
136
168
-1
38
-19
57
256
1,911
1,464
2,098
1,432
6,674
2,201
(D)
1,226
43
8,036
2,092
(D)
1,007
20
3,276
97
(D)
-9
1,657
122
600
11
-4
189
4
D0
94
95
96
97
98
99
100
101
113
114
115
116
117
118
119
120
121
122
123
124
125
126
127
128
129
145
146
147
148
149
150
151
152
153
154
155
156
157
158
159
160
161
162
163
164
165
166
167
168
169
170
171
172
173
174
175
176
177
35,319
24,456
1,826
61
737
3,081
38,217
25,541
2,074
64
607
3,545
43,218
27,892
2,655
41
623
3,359
3,774
2,224
19
5
112
68
2,967
2,032
31
7
54
607
2,561
1,218
454
-6
193
153
1,212
230
31
3
-159
314
4,719
2,313
617
-21
-26
93
5,415
3,372
300
3
53
268
6,200
3,578
413
1
79
422
5,755
3,549
660
5,935
3,439
564
109
385
383
n
8
40
29
51
33
18
5
1,441
191
112
1,150
305
2,406
77
271
410
845
215
587
218
2,148
354
2,043
58
434
137
309
58
1,047
226
1,992
394
2,622
83
571
145
372
111
1,340
1,673
497
192
2,205
61
651
224
218
92
959
1,897
253
225
2,496
52
718
259
212
148
1,108
1,399
21
228
2,283
47
716
319
128
163
907
-837
-1,967
-1,241
322
1,727
493
261
513
19,036
14,416
18
14,398
222
4,919
-1,157
-29
-1,128
1,257
116
152
989
94
6,206
204
13,442
2,701
0
2,701
1,634
521
116
998
139
6,384
1,123
34
97
993
1,504
8,490
6,135
-26
6,161
1,361
36
136
1,189
-3
(D)
(D)
1,245
255
76
914
13
11,294
1,212
(D)
(D)
1,942
17
184
1,741
-22
11,800
2,259
-2
2,262
1,791
218
179
1,394
-51
11,718
2,436
3
2,434
1,340
375
204
761
-57
0
2,050
70,077
0
0
1,504
3,811
0
0
-3
996
0
0
204
4,853
0
0
139
8,968
0
0
222
6,015
0
0
94
4,725
0
0
13
5,058
0
0
-22
8,162
0
0
-51
7,801
0
0
-57
7,998
0
13,368
1,156
7,345
1,067
1,152
92
245
37
543
27
266
82
823
125
812
51
1,900
108
944
127
1,817
17
1,088
46
846
97
355
59
1,074
142
291
59
1,175
164
484
37
1,379
156
832
113
1,319
109
887
133
106
-192
R
612
730
749
505
634
76
144
980
180
760
935
222
1,057
1,279
828
1,556
1,203
1,358
2,249
1,138
2,053
2,454
38
-33
127
-51
(D)
(D)
(D)
(D)
(D)
D
D
D
D
D
14
31
-120
-498
505
24
1,343
19
-30
44
130
151
1,029
36
11
1,443
-19
535
-437
-358
24
-103
-145
28
-219
339
267
251
-179
162
60
187
50
169
185
238
237
172
218
176
(D)
(D)
(D)
(D)
(D)
( )
59
D
( )
133
D
( )
129
D
( )
135
D
( )
188
(D)
136
114
-12
34
160
(D)
D
fi
657
107
(D)
(D)
(D)
(D)
D
D
D
-109
-50
152
183
149
286
-195
-191
115
628
151
44
392
573
-110
-137
128
-114
( )
590
( )
880
( )
1,299
( )
1,941
( )
2,019
( )
117
767
1,002
1,226
2,155
2,420
-97
80
231
742
262
114
174
211
114
133
596
674
937
384
772
647
1,189
439
588
430
786
702
688
182
1,140
1,024
598
160
1,689
1,308
42
680
190
56
120
-92
143
22
-33
-29
253
275
19
-56
486
355
67
45
169
43
88
65
314
49
67
66
182
159
91
30
156
139
75
19
96
72
69
98
-17
8
10
(D)
-7
(D)
(D)
75
R
58
(D)
(D)
14
R
-23
(D)
(D)
R
7
9
6
-2
(D)
(D)
R
10
(D)
(D)
7
8
1
%6
sS61
£
50
3,166
1,948
(D)
1,243
38
D0
615
447
8
439
5,087
0
(D)
667
666
80
586
6,376
0
(D)
708
1,218
562
655
7,084
0
(D)
919
4,473
3,091
1,382
7,867
0
(D)
1,053
5,944
4,418
1,526
8,759
2,135
2,952
3,055
3,321
3,502
3,582
3,785
4,083
4,355
4,404
()
* Less than $500,000 (±).
D
Suppressed to avoid disclosure of data of individual companies.
34,054
23,832
1,272
69
575
2,816
n
J
-1,005
-71
-685
(D)
(D)
60
38
23
-149
( )
277
R
-146
-269
123
89
39
-24
(D)
( )
49
-221
-119
-90
.-47
-14
(D)
(D)
R
25
-33
-280
296
-6
-78
36
58
108
-50
-20
-26
n
0
-2
25
116
12
104
550
0
186
10
176
697
0
2
37
262
141
120
843
0
1
-10
339
147
192
738
289
262
352
345
357
487
401
337
-709
0
(D)
61
63
30
33
983
0
(D)
98
581
414
167
665
3,179
2,458
721
303
0
(D)
223
1,536
1,323
213
832
-594
-115
852
131
395
271
4
299
531
301
-148
-92
-77
-15
n
(54)
59
66
499
160
3
173
-7
0
(D)
-102
-101
n
432
170
-1
132
-11
-102
R
347
388
97
150
112
27
3
-42
317
131
-3
49(D)
-2
(D)
D
223
263
49
131
73
8
2
-41
-66
46
71
158
42
-3
7
14
1,013
431
(D)
321
-9
-339
-247
fl( )
n
Jrl
n
49
0
D
484
446
63
223
_7
0
n
-178
589
344
245
692
448
243
NOTE.—In this table, unlike in the international transactions accounts, as revised in June 1992, income and capital
outflows are shown without a current-cost adjustment, and income is shown net of withholding taxes.
C-l
SURVEY OF CURRENT BUSINESS
August 1992
BUSINESS
CYCLE
INDICATORS
Data tables
Footnotes for pages C-l through C-5
Charts
C-l
C-6
C-7
Series originating in Government agencies are not copyrighted and may be reprinted freely. Series from private sources
are provided through the courtesy of the compilers and are subject to their copyrights.
Current and historical data for the series shown in the C-pages are available on printouts, diskettes, and the Commerce
Department's Economic Bulletin Board. For more information, write to Business Cycle Indicators Branch, Business Outlook
Division (BE-52), Bureau of Economic Analysis, U.S. Department of Commerce, Washington, DC 20230.
NOTE.—This section of the SURVEY is prepared by the Business Cycle Indicators Branch.
Series
no.
Year
1992
1991
Series title and timing classification
June
1991
July
Sept.
Aug.
Nov.
Oct.
Jan.
Dec.
May
Apr.
Mar.
Feb.
June
July *
1. COMPOSITE INDEXES
The Leading Index
910*
•
1 •
5*
8*
32*
20*
29*
92*
99*
19*
106*
83*
950
•
Composite index of leading indicators, 1982=100 (L,L,L) ••••
Percent change from previous month
Percent change over 3-month span, AR
Leading index components:
Average weekly hours mfg (L L L) ....
Average weekly initial claims for unemployment insurance, thous. (L,C,L) ' ±.
Mfrs.1 new orders, consumer goods and materials,
bil.1982$ (L.L.L).
Vendor performance, slower deliveries diffusion index,
percent (L,L,L).
Contracts and orders for plant and equipment, bil. 1982$
(L,L,L).
Index of new private housing units authorized by local
building permits, 1967=100 (L,L,L).
Change in mfrs.' unfilled orders, durable goods, bil.
1982$, smoothed (L,L,L)t.
Change in sensitive materials prices, percent, smoothed
(L,L,L)t.
Index of stock prices, 500 common stocks, 1941-43=10,
NSA.(L,L,L).
Money supply M2 bil 1982$ (LL L)
Index of consumer expectations, U. of Michigan,
1966:1=100, NSA(L,L,L)© 2 .
Diffusion index of 11 leading indicator components:
Percent rising over 1 -month span
Percent rising over 6-month span
143.9
.6
145.6
1.2
7.5
145.6
0
4.5
145.5
-.1
.3
145.7
.1
-.3
145.5
-.1
-.5
145.3
-.1
3.3
146.9
1.1
7.1
148.0
.7
9.1
148.5
.3
5.8
149.0
.3
5.2
149.9
.6
10.8
'2.7
"1.6
40.7
40.7
40.7
40.9
40.9
40.9
40.9
41.0
40.9
41.1
41.1
41.1
41.3
415
'41.0
429
"41.0
412
'90.55
'90.69
444
434
411
1,048.27
85.47
91.30
47.1
50.4
48.8
45.05
40.68
47.3
488.07
r
38.53
75.5
76.2
77.4
-1.31
-2.43
-1.70
431
91.00
414
435
422
436
435
424
427
431
91.06
90.62
89.73
85.92
88.10
89.08
'88.61
90.14
89.78
49.4
50.3
50.6
49.5
48.0
48.7
49.5
47.4
49.9
38.52
41.58
43.77
37.01
42.94
42.98
45.29
44.62
44.29
75.0
111
-.96
-.99
79.3
78.1
85.6
88.2
91.4
87.2
84.4
-1.15
-1.41
-1.73
-1.85
-2.22
-2.54
-2.63
'149.5
'149.6
" .1
143.6
.3
4.7
'-.3
'46.54
84.1
'-2.73
52.3
50.6
'45.96
82.3
'-2.67
86.1
'-3.09
-.65
-.56
-.50
-.60
-.75
-.82
-.72
-.53
-.39
-.21
.56
.82
.85
.71
376.18
378.29
380.23
389.40
387.20
386.88
385.92
388.51
416.08
412.56
407.36
407.41
414.81
408.27
415.05
2,409.6
2,419.7
2,408.1
'2,401.1
'2,400.3
2,401 .5
'2,402.2
'2,407.0
'2,419.6
'2,405.3
'2,396.5
'2,394.6
'2,381.8
'2,376.6
r
2,415.0
r
r
'.17
70.5
71.2
70.7
67.6
40.9
45.5
45.5
'45.5
"50.0
'68.2
'63.6
70.3
75.9
74.4
75.3
76.4
70.5
61.9
61.5
59.1
61.8
70.3
53.0
64.0
72.7
72.7
72.7
36.4
.63.6
50.0
63.6
40.9
36.4
40.9
63.6
50.0
72.7
63.6
59.1
72.7
72.7
126.8
.2
2.9
126.8
0
0
126.5
-.2
-.6
126.6
.1
126.2
-.3
125.4
-.6
124.8
-.5
124.3
-.4
124.8
0
-3.4
-5.6
124.8
.4
0
'124.9
'.1
'.3
108,227
3,389.9
108,190
3,380.5
108,267
3,379.4
108,293
3,379.1
108,285
3,384.5
108,139
3,372.1
108,154
3,399.0
108,100
3,372.5
108,142
3,388.7
108,200
3,386.0
108.377 '108,496 '108,433 '108,631
'3,380.2 '3,383.3 '3,380.3 '3,382.6
108.1
476,083
108.0
472,729
108.4
474,718
108.4
475,886
108.1
473,830
107.4
466,626
106.6
474,654
107.2
478,523
107.6
479,892
108.1
481,019
63.6
The Coincident Index
920*
•
41 •
51*
47*
57*
951
•
Composite index of coincident indicators, 1982=100 (C,C,C)
Percent change from previous month
Percent change over 3-month span, AR
Coincident index components:
Employees on nonagricultural payrolls, thous. (C,C,C) ....
Personal income less transfer payments, bil. 1987$, AR
(C,C,C).
Index of industrial production, 1987=100 (C,C,C)
Manufacturing and trade sales, mil. 1982$ (C,C,C)
Diffusion index of 4 coincident indicator components:
Percent rising over 1 -month span
Percent rising over 6-month span
126.2
-.3
-2.9
108,310
3,382.2
107.1
5,627,028
107.3
r
472, 138
r
-1.9
-5.9
-1.9
47.9
44.8
87.5
75.0
62.5
87.5
50.0
62.5
100.0
37.5
0
25.0
0
50.0
37.5
50.0
114.6
-.6
113.6
113.1
-.4
-11.9
112.2
-.8
111.4
-.7
111.2
-.2
110.9
-.3
110.7
-.2
-7.5
-6.6
-4.6
-2.5
-6.7
-1.3
-9.4
-10.1
13.9
1.43
14.1
1.44
14.2
1.43
14.6
1.43
14.9
1.44
15.3
1.47
16.4
1.44
17.0
1.42
37.5
50.0
'1.9
87.5
75.0
100.0
'75.0
108.2
107.8
-.4
75.0
3
'124.9
'0
'0
'124.8
3
'-.1
3
125.1
3
.2
.6
'108.9
'108.5
'478,395 '484,984
'108.9
'75.0
'25.0
3
100.0
'106.0
'-1.2
'-9.6
'105.1
4
104.8
4
-.3
100.0
The Lagging Index
930*
Composite index of lagging indicators, 1982=100 (Lg,Lg,Lg)
Percent change from previous month
-7.3
•
91*
77*
62*
109*
101 *
95*
120*
952
•
940*
Lagging index components:
Average duration of unemployment, weeks (Lg,Lg,Lg) i .
Ratio, mfg. and trade inventories to sales in 1982$
(Lg.Lg.Lg).
Change in labor cost per unit of output, mfg., percent,
AR, smoothed (Lg,Lg,Lg)t.
Average prime rate charged by banks, percent, NSA
(Lg,Lg,Lg).
Commercial and industrial loans outstanding, mil. 1982$
(Lg,Lg,Lg).
Ratio, consumer installment credit outstanding to personal income, percent (Lg,Lg,Lg).
Change in Consumer Price Index for services, percent,
AR, smoothed (Lg,Lg,Lg) t.
Diffusion index of 7 lagging indicator components:
Percent rising over 1 -month span
Percent rising over 6-month span
Ratio, coincident index to lagging index, 1982=100 (L,L,L) .
13.8
1.46
3.1
8.46
-1.9
-14.2
14.0
1.44
2.5
8.50
0
-2.2
8.50
8.20
8.00
-.5
7.58
1.6
7.21
1.7
6.50
-1.0
1.1
6.50
-7.1
17.1
1.42
.3
6.50
107.3
-.5
'-7.9
4
'-.8
-9.0
17.0
1.42
18.3
18.6
'1.42
"1.41
'-.4
'-1.0
'-1.7
6.50
6.50
6.50
'365,522 '360,060
387,520
389,228
379,222
374,562
373,050
372,429
369,110
366,724
368,222
368,053
15.13
15.12
15.10
15.00
14.96
14.91
14.89
14.72
14.74
14.60
14.52
'14.43
'14.36
'14.33
4.6
4.0
3.9
4.0
4.1
4.3
4.1
4.2
4.2
3.9
3.6
35.7
15.5
110.3
7.1
0
111.6
3.8
50.0
0
112.1
3.8
28.6
0
112.7
;i-
4.3
21.4
28.6
42.9
42.9
50.0
28.6
42.9
28.6
35.7
28:6
21.4
35.7
0
0
113.6
113.5
113.1
112.7
113.7
115.3
115.8
35.7
4
'14.3
18.3
'-1.5
6.02
'354,858 '355,664
385,475
NOTE —The following current high values were reached before Ju ne 1991: N ovember 1983-BCI-C 2 (67.5) a id
BCI-99 smoothed (2.09); February 1984— BCI-29 (158.5); March 198' -BCI-83 («)7.7) and BCI-92 smc othed (4.6 );
August 1984— BCI-109 (13.00); March 1986— BCI-77 (1.58); July 198 7-BCI-5 (2 36); May 1 988-BCI- 06 (2,473. 1);
Decemb er 1988— BCI-8 (100.42); June 1989-BCI-91 (11.1); Septemt er 1989-BCI-95 (16. D5); Octobe r 1989-BC
-.9
-1.1
8.50
109.3
'7.1
3.4
4
60.0
0
'116.4
'117.8
'118.7
''119.4
930 (120.3); De cember 19£ 9— BCI-20 (48.56): Ap il 1990— B >51 (3,48 18): June 990— BCI-41 (110.304) and BCI920 ;134.6); Ju y 1990— B 31-101 (409 650); August 1990-BCI-57 (489 996); Sept smber 1990— BCI-47 (110.6) and
BCI- 20 smooth ed (6.6); ar d March 12 91— BCI-62 smoothed (8.9).
3
e page C-f> for other ootnotes.
S(
C-2 • August 1992
441
442
451
452
453
1•
21 *
5*
46*
60
48*
42
41 *
963
40*
90*
37
43*
45
91 •
44
Labor force:
Civilian labor force, thous
Civilian employment thous
Civilian labor force participation rates (percent):
Males 20 years and over
Females 20 years and over
Both sexes 16-19 years of age
Marginal employment adjustments:
Average weekly hours, mfg. (L,L,L)
Average weekly overtime hours mfg (L C L)
Average weekly initial claims for unemployment insurance, thous. (L.C.L) ' *.
Job vacancies:
Index of help-wanted advertising, 1967=100 (L,Lg,U)
Ratio, help-wanted advertising to unemployed (L,Lg,U) ...
Employment:
Employee hours in nonagricultural establishments,
bil. hours, AR (U,C,C).
Persons engaged in nonagricultural activities, thous.
(U.C.C).
Employees on nonagricultural payrolls, thous. (C,C,C) ....
Diffusion index of employees on private nonagricultural
payrolls, 356 industries:
Percent rising over 1-month span
Percent rising over 6-month span
Employees in goods-producing industries, thous. (L,C,U)
Ratio, civilian employment to population of working age,
percent (U,Lg,U).
Unemployment:
Number of persons unemployed, thous. (L,Lg,U) *
Civilian unemployment rate percent (L Lg U) ± .
Average weekly insured unemployment rate, percent
(L,Lg,U)>?.
Average duration of unemployment, weeks (Lg.Lg.Lg) ± .
Unemployment rate, 15 weeks and over, percent
(Lg,Lg,Lg)t.
SURVEY OF CURRENT BUSINESS
125,303
116877
125524
116909
125,204
116729
125004
116484
125,590
117089
125508
116867
125374
116772
125619
116728
126046
117117
126287
117043
126590
117348
126830
117675
127160
117656
127549
117574
127532
117772
773
579
51 7
775
581
51 5
774
578
504
772
578
495
775
578
51 5
772
578
51 7
771
577
51 4
770
579
51 1
770
582
51 6
771
582
521
773
585
505
775
585
499
779
583
51 2
111
586
51 8
775
588
509
40.7
36
444
40.7
36
434
40.7
36
411
40.9
37
431
40.9
37
435
40.9
37
422
40.9
37
436
41.0
37
435
40.9
36
424
41.1
37
427
41.1
38
431
41.1
39
414
41.3
"4.1
415
"41.0
39
429
M1.0
'38
412
93
.329
96
.331
92
.323
91
.318
92
.322
88
.303
89
.308
90
.301
85
.283
89
.286
93
.299
90
.292
93
.291
92
.274
'91
P. 277
199.67
200.27
198.61
199.53
200.22
199.68
199.74
200.14
199.45
201.05
200.64
200.12
200. 16
f 200. 12
113,644
113,623
113,485
113,230
113,806
113,663
113,500
113,545
113,951
113,811
114,155
114,465
114,322
114,568
108,310
108,227
108,190
108,267
108,293
108,285
108,139
108,154
108,100
108,142
108,200
108,377
450
396
23,830
61.6
45.1
440
23,809
61.6
48.7
472
23,792
61.5
51.4
463
23,791
61.3
50.0
469
23,755
61.6
471
461
23,704
61.4
46.8
440
23,613
61.3
46.9
434
23,584
61.2
43.5
478
23,527
61.4
47.9
r
506
23,525
61.3
475
"M93
23,532
61.4
58.4
M9 2
23,530
61.6
8,426
67
3.1
8,615
69
3.2
8,475
68
3.1
8,520
68
3.1
8,501
68
3.1
8,641
69
3.1
8,602
6.9
3.1
8,891
71
3.1
8,929
7.1
3.2
9,244
73
3.1
9,242
73
3.1
13.8
1.9
14.0
2.0
13.9
1.9
14.1
1.9
14.2
1.9
14.6
2.0
14.9
2.1
15.3
2.3
16.4
2.4
17.0
2.5
17.1
2.5
r
r
201 .07
114,478
r
108,496
r
108,433 * 108,631
"51.4
"M3.8
'50.1
23.548
61.5
" 23,460
61.4
>> 23,443
61.5
9,155
72
3.2
9,504
75
3.1
9,975
78
3.1
9,760
77
3.2
17.0
2.4
18.3
2.6
18.6
2.9
18.3
2.8
"1085
r
108.5
r
111.0
1100
'1089
''1084
'1109
'1102
"78.7
778
'78.9
f77Q
r
3. OUTPUT, PRODUCTION, AND CAPACITY UTILIZATION
50
49
Output:
Gross domestic product, bil. 1987$, AR (C.C.C)
Percent change from previous quarter, AR
Gross national product, bil. 1987$, AR (C,C,C)
Value of domestic goods output bil 1987$ AR (C C C)
47*
73*
74*
75*
Industrial production indexes, 1987=100:
Total (C C C)
Durable manufactures (C C C)
Nondurable manufactures (C L L)
Consumer goods (C L C)
55*
124
82*
Capacity utilization rates (percent):
Total industry (L,C,U)
Manufacturing (L C U)
4,821 .0
-1 2
4,836.4
1 911 2
4,838.5
.6
4,848.2
1 915.7
4,831 .8
12
4,843.7
1 9183
r
4,873.7
29
4,890.7
1 9240
4,891.0
14
'4,900.6
r
1 934 6
1071
1071
1079
1075
1073
1073
1076
1080
1081
108.1
1086
1083
1080
1078
1090
1084
1084
108.4
1096
1094
1084
1082
110 1
1097
1081
107.8
1096
1100
1074
1071
1095
1091
1066
105.8
1095
1081
1072
1070
1096
1088
1076
1070
1104
1093
1081
"107.6
1107
1101
"1089
"1091
r
1107
r
110.6
79.4
782
79.6
783
80.0
78.7
79.8
786
79.9
788
79.8
787
79.3
78.2
78.7
111
78.0
77 0
78.3
774
78.4
775
'78.7
111
r
79.1
"781
r
4. SALES, ORDERS, AND DELIVERIES
57*
59*
7*
8*
92*
32*
Sales:
Manufacturing and trade sales mil 1982$ (C C C)
Sales of retail stores, mil. 1982$ (U.L.U)
Orders and deliveries:
Mfrs.' new orders, durable goods, bil. 1982$ (L,L,L)
Mfrs.' new orders, consumer goods and materials,
bil. 1982$ (L,L,L).
Mfrs.' unfilled orders, durable goods, mil. 1982$0
Change from previous month bil. 1982$
Change from previous month, bil. 1982$, smoothed
(L,L,L)t.
Vendor performance, slower deliveries diffusion index,
percent (L,L,L).
5 627 028 r 472 138 "476,083
1,457,326 "122,268 "122,563
472,729
121,500
474,718
121,807
475,886
121,900
473 830
121,046
466,626
121,289
474,654
124,356
478,523
125,395
479,892
123,531
481,019 "478,395 ' 484,984
123,932 "124,305 "123,948 '124,504
1,145.58
1,048.27
92.48
85.47
103.63
91.30
99.94
91.00
94.89
91.06
97.83
90.62
97.76
89.73
92.39
85.92
95.63
88.10
95.19
89.08
"96.92
"88.61
392,358
-1.59
-1.31
397,601
-4.43
-2.43
403,259
5.66
-1.70
403,913
.65
-.96
399,487
-4.43
-.99
397,414
-2.07
-1.15
395,078
-2.34
-1.41
392,358
-2.72
-1.73
391,162
-1.20
-1.85
387,088
-4.07
-2.22
384,088
-3.00
-2.54
47.3
47.1
50.4
48.8
49.4
50.3
50.6
49.5
48.0
48.7
49.5
47.4
49.9
50.6
1169
56,441
1159
54,554
"1151
'54,849
"1159
"1166
'1162
98.78
90.14
96.46
89.78
"99.19
"90.55
P 95.76
''90.69
382,275 "379,305 "377,463 ''371,359
"-1.84
"-2.97
-1.81
'-6.10
"-2.67
'-3.09
-2.63
"-2.73
52.3
5. FIXED CAPITAL INVESTMENT
12*
13*
10
20 *
27 *
11
97
61
100 *
Formation of business enterprises:
L) Index of net business formation, 1967=100 (L.L.L)
Number of new business incorporations (L,L,L) ,
Business investment commitments:
Contracts and orders for plant and equipment, bil.$
(L,L,L).
bil. 1982$
Contracts and orders for plant and equipment, bil.
(L,L,L).
. 1982$
Mfrs.' new orders, nondefense capital goods, bil.
(L,L,L).
Construction contracts awarded for commercial and industrial buildings, mil. sq. ft.(L,C,U) €
New capital appropriations, mfg., bil.$ (U,Lg,U)
Lg Lg) 0 .
Backlog of capital appropriations, mfg., bil.$ (C,Lg,Lg)0
Business investment expenditures:
New plant and equipment expenditures by business,
ness
bil.$, AR (C.Lg.Lg).
ness,
New plant and equipment expenditures by business,
bil. 1987$, AR(C,Lg,Lg).
1153
629,901
1160
52,071
1154
52,803
1160
53,315
1154
52,284
403.97
30.69
"38.98
32.79
488.07
38.53
"45.05
40.68
452.63
36.08
41.93
532.30
36.51
39.12
1153
53,892
1159
54,165
1151
52,898
31.67
33.11
35.94
29.81
33.83
33.94
35.72
34.86
33.41
"34.51
'32.40
38.52
41.58
43.77
37.01
42.94
42.98
45.29
44.62
44.29
"46.54
'45.96
38.07
36.24
38.70
41.50
34.75
39.97
39.42
42.46
40.71
41.97
"43.77
'43.15
42.28
33.96
52.08
39.50
39.94
39.37
46.93
41.43
41.60
35.27
43.73
40.13
'3329
'99.12
9812
52920
52786
52888
53649
a
492.97
492.41
496.14
503.74
-526.13
NOTE—The following current high values were reached before June 1991: November 1983—BCI-32 (67.5); March
1984—BCI-92 change (8.67) and BCI-92 smoothed (4.61); September 1985—BCI-9 (93.19); December 1986—BCI13 (65,691); July 1987-BCI-5 (286); November 1987-BCI-46 (162); December 1988-BCI-7 (115.84), BCI-8
(100.42), and BCI-60 (0.736); January 1989-BCI-40 (25,411) and BCI-82 (85.1); March 1989-BCI-12 (126.5), BCI37 (6,189), and BCI-43 (5.0); 1st Q 1989-BCI-11 (50.01); April 1989-BCM24 (85.0); May 1989-BCI-45 (2.0);
558.50
June 1989—BCI-44 (1.0) and BCI-91 (11.1); 2d Q 1989—BCI-97 (117.90); December 1989— BCI-10 (43.89) and
BCI-20 (48.56); March 1990-BCI-90 (63.1); April 1990-BCI-92 level (415,789); May 1990-BCI-42 (115.095); June
1990—BCI-41 (110,304) and BCI-48 (204.60); 2d Q 1990—BCI-49 (1.975.3). BCI-50 (4.915.5). and BCI-55 (4.902.7);
August 1990—BCI-57 (489,996); and September 1990—BCI-47 (110.6) and BCI-73 (113.8).
See page C-6 for other footnotes.
SURVEY OF CURRENT BUSINESS
Year
Series
no.
August 1992
•
C-3
1992
1991
Series title and timing classification
1991
June
July
Sept.
Aug.
Oct.
Nov.
Dec.
Jan.
Mar.
Feb.
Apr.
May
June
July *
5. FIXED CAPITAL INVESTMENT-Continued
69*
76*
Business investment expenditures—Continued:
Mfrs ' machinery and equipment sales and business construction expenditures, bil.$, AR (C.Lg.Lg).
Index of industrial production, business equipment,
1987=100 (C.Lg.U).
Gross private nonresidential fixed investment, bil. 1987$,
43736
44487
43227
43542
43849
44353
44289
41637
42447
43440
44923
43277
121.5
121.9
122.5
121.3
122.2
122.3
121.8
121.4
119.9
121.0
121.5
123.0
42785
r
124.5
r
453 96
r
124.4
* 124.1
'1,151
M.119
86.1
AR:
86 •
87*
88*
28 *
29 •
89 •
Total (C Lg C)
Structures (Lg.Lg Lg) ...
Producers' durable equipment (C,Lg,C)
Residential construction and investment:
New private housing units started, thous., AR (L,L,L)
Index of new private housing units authorized by local
building permits, 1967=100 (L,L,L).
Gross private residential fixed investment, bil. 1987$, AR
(L,L,L).
1530
4921
1484
4958
1576
1494
'5138
'1479
342.6
345.8
343.7
3464
'3658
5002
1,014
75.5
4987
1,036
76.2
1,053
77.4
1702
1,053
75.0
1,020
77.7
1,085
79.3
1,085
78.1
172.6
1,118
85.6
1,180
88.2
1773
1,257
91.4
1,340
87.2
1 ,086
84.4
'1,196
84.1
r
1856
82.3
1896
6. INVENTORIES AND INVENTORY INVESTMENT
70
77*
Inventories on hand:
Mfg. and trade inventories, bil. 1982$ (Lg,Lg,Lg)0
Ratio, mfg. and trade inventories to sales in 1982$
(Lg,Lg,Lg).
30*
31*
Inventory investment:
Change in business inventories, bil. 1987$ AR (L,LL) ...
Change in mfg. and trade inventories, bil.$, AR (L,L,L) ..
684.64
1.46
-93
-7.8
680.76
1.44
'-42. 1
680.67
680.81
680.99
682.42
682.87
684.64
681.68
681.64
681.70
'682.21
'680.72
^683.76
1.43
1.44
1.43
1.43
1.44
1.47
1.44
1.42
1.42
1.42
'1.42
M.41
31.9
27.3
75
10.0
32.1
-48.4
-126
5.5
19.1
29.1
'92
'-7.2
^64.1
'-12.4
6
1.3
7. PRICES
99*
98
Sensitive commodity prices:
Index of sensitive materials prices 1982-100
Percent change from previous month
Percent change from previous month, smoothed
(L,L,L)f.
Index of producer prices for sensitive crude and intermediate materials, 1982=100 (L.L.L).
Cattle hides
Lumber and wood products
Wastepaper, news
Wastepaper, mixed, NSA
Wastepaper corrugated
Iron and steel scrap
Copper base scrap
Aluminum base scrap
Other nonferrous scrap, n.e.c., NSA
Sand gravel and crushed stone
Raw cotton
Domestic apparel wool
Index of spot market prices, raw
industrial materials,
23*
1967=100, NSA (U.L.L)©1.
Copper scrap $ per Ib ©
Lead scrap, $ per Ib ©
Steel scrap, $ per ton©
Tin, $ per Ib., NSA©
Zinc, $ per Ib., NSA©
Burlap, $ per yd., NSA©
Cotton $ per Ib ©
Print cloth $ per yd. NSA ©
Wool tops, $ per Ib., NSA©
Hides, $ per Ib., NSA©
Rosin $ per 100 Ib ©
Rubber, $ per Ib.©
Tallow $ per Ib ©
Producer Price Indexes:
Finished goods 1982-100
336
Percent change over 1 -month span
Percent change over 6-month span AR
•
Finished goods less foods and energy, 1982=100
337
Percent change over 1 -month span
Percent change over 6-month span, AR
334 *
Finished consumer goods 1982-100
Percent change over 1-month span
Percent change over 6-month span, AR
Capital equipment 1982-100
333 *
Percent change over 1-month span
Percent change over 6-month span AR
•
Intermediate materials, supplies, and .components,
332
1982=100.
Percent change over 1 -month span
119.49
-.50
-.65
120.30
119.92
-.78
-.56
-.32
-.50
136.19
136.68
118.20
116.63
115.94
116.20
116.48
116.14
116.54
'118.64
120.31
121.35
121.21
120.76
-1.43
-.60
-1.33
-.75
-.59
-.82
.22
-.72
.24
-.53
-.29
-.39
.34
-.21
'1.80
'.17
'1.41
.56
.86
.82
-.12
.85
-.37
.71
136.60
134.47
134.59
134.66
134.82
135.84
136.08
139.83
'141.97
141.40
141.74
141.20
141.10
157.1
133.7
91.6
53.7
146.1
147.0
164.9
128.5
127.5
129.4
99.9
67.0
271.7
163.7
134.3
94.1
52.9
151.8
146.4
163.9
125.6
126.3
129.6
94.8
66.0
271.0
163.7
136.4
91.2
52.8
154.2
143:9
165.8
125.4
124.0
129.8
95.7
66.9
168.7
138.8
89.7
53.2
155.1
138.2
155.7
123.7
122.6
129.7
91.9
72.5
172.5
143.9
89.2
52.5
150.1
138.4
162.5
134.9
127.8
129.3
87.4
78.3
'166.3
'146.3
164.9
143.2
90.5
51.9
140.0
141.8
176.2
144.1
137.0
130.7
97.0
85.4
265.6
262.8
268.0
168.9
145.6
85.6
58.4
153.4
140.0
162.0
145.5
135.9
130.0
88.2
90.8
281.5
170.2
144.8
89.2
56.7
149.3
139.0
169.5
141.0
134.3
130.3
89.5
85.0
269.2
160.7
145.3
82.5
57.0
152.7
141.6
159.0
147.3
136.9
129.9
85.6
87.1
278.1
284.2
285.7
.817
.138
.808
.137
.784
.141
.825
.149
.854
.161
.827
.168
.825
.177
96.907
3.555
98.319
3.545
90.326
3.677
89.321
3.769
89.510
3.756
91.185
3.870
.873
.175
91 .241
.546
.271
.563
.880
.593
.271
.567
.816
173.4
132.1
101.7
64.1
165.2
147.6
170.0
143.0
135.8
128.7
116.0
68.6
171.6
135.4
105.3
63.4
168.2
138.9
168.4
131.3
132.1
128.2
123.1
75.5
162.2
135.1
98.5
61.5
162.5
142.2
167.2
139.4
132.9
128.7
114.9
79.0
161.4
132.6
95.9
54.9
154.1
142.9
165.6
139.6
132.5
129.0
102.9
72.6
283.0
285.4
279.8
276.9
155.5
133.3
92.3
54.4
143.0
145.8
160.9
133.9
129.9
129.2
105.9
72.5
271.9
.848
.156
.846
.148
.865
.129
.863
.126
.811
.123
96.257
90.292
3.285
3.417
.601
.282
.698
.834
4.172
.847
.620
.288
.736
.832
4.525
89.749
3.506
.620
.288
.678
.850
4.270
91.707
3.645
.598
.284
.642
.855
3.962
3.852
.505
.272
.591
.880
3.670 '
3.738
3.980
.573
.271
.552
.782
3.888
.562
.271
.529
.730
3.775
84.8
'88.4
.601
.271
.529
.758
4.040
.640
.271
.534
.787
4.000
.911
.168
1.017
.156
4.032
91.065
4.352
88.589
4.503
.665
.269
.520
.782
.673
.266
.538
.782
.635
.258
.578
.744
4.000
4.000
.764
4.000
.742
.752
.755
.710
.706
.678
.696
60.362
61.350
61.856
61.287
60.914
59.880
58.997
59.172
58.997
59.113
59.406
59.821
60.181
60.729
.457
.130
.446
.117
.427
.124
.431
.144
.437
.137
.457
.136
.469
.132
.460
.126
.435
.122
.429
.120
.434
.124
.456
.134
.465
.139
.465
.133
.459
.144
121.7
0
.1
131.1
.3
2.9
120.5
-.1
-.5
126.7
.2
2.3
114.4
121.4
-.2
1.0
130.8
0
2.3
120.1
-.2
.7
126.7
.1
1.4
114.2
121.2
-.2
1.2
131.1
.2
2.2
119.8
-.2
1.0
126.8
.1
1.8
113.8
121.5
.2
1.0
131.3
.2
2.2
120.2
.3
.8
126.9
.1
1.4
114.1
121.8
.2
1.2
131.7
.3
2.5
120.4
.2
1.0
127.1
.2
1.6
114.3
122.1
.2
1.2
132.0
.2
3.1
120.8
.3
.7
127.3
.2
2.4
114.0
122.2
.1
1.2
132.2
.2
2.9
120.9
.1
.7
127.5
.2
2.4
114.0
122.1
-.1
'1.0
132.4
.2
'2.9
120.7
-.2
'.7
127.7
.2
'2.7
113.9
121.9
-.2
.7
133.1
.5
2.4
120.2
-.4
.3
128.3
.5
1.9
113.2
122.2
.2
1.3
133.2
.1
3.4
120.6
.3
.8
128.4
.1
2.7
113.7
'122.4
123.0
.4
123.3
.2
123.4
.1
134.4
.6
134.2
-.1
134.5
.2
121.4
.3
121.9
.4
121.9
0
1292
.5
129"l
-.1
129.3
.2
'113.8
122.5
r
.1
2.5
133.6
'0
2.1
121.0
.2
2.8
128.5
'-.2
1.6
114.0
114.4
115.2
115.2
-.2
-2.3
101.2
-1.0
-10.8
.2
-.3
99.3
-1.6
-4.5
-.4
-.2
99.3
0
.2
.3
0
99.1
-.2
-1.0
.2
-.5
98.4
.7
-2.0
-.3
-1.1
100.5
2.1
-4.0
0
-.7
100.4
-.1
-.2
-.1
'-.9
98.3
-2.1
'-2.2
-.6
0
97.3
-1.0
-4.1
.4
.7
99.0
1.7
-1.2
'.1
2.3
'97.3
'-1.7
5.8
'.2
3.6
98.4
'1.1
8.0
.880
Crude materials for further processing, 1982=100
Percent change over 1 -month span
Percent chanqe over 6-month span AR
•
117.9
117.5
Fixed-weighted price index, gross domestic business prod311
uct, 1987=100.
2.6
3.8
Percent change from previous quarter, AR
•
Consumer Price Indexes for all urban consumers:
136.6
136.2
136.0
136.2
All items 1982-84-100, NSA
320
.1
.3
.2
.3
Percent change over 1 -month span
3.3
3.0
3.0
3.0
Percent change over 6-month span, AR
•
143.0
142.4
142.0
142.1
All items less food and energy, 1982-84=100
323
4
.4
.3
.3
Percent change over 1 -month span
4.0
3.7
4.2
3.9
Percent change over 6-month span, AR
•
147.0
146.5
145.9
146.3
Services 1982-84-100
4.2
3.3
5.0
4.6
Percent change from previous month AR
3.8
4.0
3.8
4.6
Percent change from previous month, AR, smoothed
120*
(Lg,Lg,Lg)T.
99
smooth
3d
ovember
983— BCINOTE —The following current high values were reached before Ji ne 1991: N
(2.09); -ebruary 1984-BCI-28 (2,260) and BCI-29 (158.5); 1st Q 198 4— BCI-30 ( 79.9); 2d () 1985-BC:i-87 (199. );
mber
1988
March 986— BCI-77 (1.58); 3d Q 1986— BCI-89 (231.3); October 1986-BCI-99 change (C5.37); Dece
BCI-31 (98.6); March 1989-BCI-99 index (135.83); April 1989-BCI-2:J (335.0); 2c Q1989--BCI-88 (36 7.5); Nove n331 *
.518
.272
.639
.880
97.097
3.585
133.6
'130.2
60.226
.965
.772
95.755
3.628
'83.4
'51.7
'149.6
'143.6
'161.4
'138.6
2.1
ber
137.4
.2
3.1
143.9
.2
3.8
148.1
4.1
4.0
137.8
.4
3.1
144.4
.3
3.8
148.6
4.1
4.1
'133.6
'.3
2.7
'120.8
'.2
2.0
'128.8
'.3
2.2
119.4
118.6
137.2
.4
3.1
143.6
.4
3.8
147.6
5.0
3.9
'.2
2.0
.768
si
144.7
.2
3.9
149.2
5.0
4.3
138.1
.1
3.4
145.1
.3
4.1
149.7
4.1
4.3
138.6
.3
2.9
145.7
.4
3.8
150.0
2.4
4.1
.765
.4
.7
0
99.8
1.4
101.1
1.3
101.1
0
139.7
.1
140.2
.3
140.5
.1
147.1
.2
147.4
.2
147.7
.2
151.4
1.6
3.9
151.8
3.2
.3.6
152.2
3.2
3.4
'120.1
'2.3
2.8
137.9
.800
139.3
.5
3.1
146.4
.5
3.8
150.7
5.7
4.2
139.5
.2
3.2
146.8
.3
3.6
151.2
4.1
4.2
989-BCI- 70 (705.14 ; February 1990-BCI 69 (461.12 ); 1st CM 990^BGI-86 (544^;Augul 19£ O-BCI-98
1990--BCI-76 (U>6.4);and B CM 20 smc othed,(6'.6) ; and January 1991— 3CI-J20 ch ange (9.7).
tfthefi f ootnotes.
042 13); Septernber
Se e page C-f> for
SURVEY OF CURRENT BUSINESS
C-4 • August 1992
Series
no.
Year
1991
1992
Series title and timing classification
June
1991
July
Sept.
Aug.
Oct.
| Nov.
Jan.
Dec.
Feb.
Apr.
Mar.
May
|
June
July *
8. PROFITS AND CASH FLOW
164
18*
22*
81 •
26*
35
Profits and profit margins:
Corporate profits after tax, bil.$, AR (L,L,L)
Corporate profits after tax bil 1987$ A R ( L L L )
Ratio, corporate domestic profits after tax to corporate
domestic income, percent (L,L,L).
Ratio corporate domestic profits after tax with IVA and
CCAdj to corporate domestic income, percent (U.L.L).
Ratio implicit price deflator to unit labor cost all persons, nonfarm business sector, 1 982=1 00(L,L,L)§.
Corporate net cash flow, bil. 1987$, AR (L.L.L)
210.7
181 5
5.5
2096
2074
2297
'234.6
1802
56
1775
54
1979
60
'201 2
'63
59
58
1025
1024
418.2
420.4
r
60
66
'67
1028
1033
'1038
427.0
459.2
'465.7
147.8
'1 48.8
'3.9
'2.7
'1026
9. WAGES, LABOR COSTS, AND PRODUCTIVITY
345
346
53*
63
62*
370
*
358 *
Wages and compensation:
Index of average hourly compensation, all employees,
nonfarm business sector, 1982=1 00 §.
Percent change from previous quarter, AR §
Index of real average hourly compensation all employees, nonfarm business sector, 1982=100 §.
Percent change from previous quarter, AR §
Wages and salaries in mining, mfg., and construction,
bil. 1987$, AR(C,C,C).
Unit labor costs:
Index of unit labor cost all persons business sector
1982=1 00 (Lg,Lg,Lg)§.
Index of labor cost per unit of output, mfg., 1987=100 .
Percent change from previous month, AR
Percent change from previous month, AR, smoothed
(Lg,Lg,Lg)i.
Productivity:
Index of output per hour all persons business sector
1982=1 00 §.
Percent change over 1 -quarter span, A R §
Percent change over 4-quarter span AR $
Index of output per hour, all persons, nonfarm business
sector, 1982=1 00 §.
144.4
4.6
1023
607.0
106.8
-4.4
2.5
106.4
-4.4
0
605.1
607.9
106.2
-4.4
-2.2
107.2
11.9
-.9
599.5
r
106.6
2.3
-1.1
r
r
595.1
108.0
13.1
1.6
107.4
-6.5
1.7
1.7
'25
108.5
r
595.8
r
'1107
1099
1028
'-.6
'1.0
603.1
1337
106.9
-3.3
-.5
r
0
16
108.3
r
1025
-A
607.2
'1337
1097
3.2
r
'.9
607.1
1331
107.0
1.2
3.1
r
r
146.4
r
'3.6
1026
.4
606.8
r
145.3
595.2
594.9
106.9
-2.2
.3
r
106.8
r
-1.1
r
-A
r
592.9
'590.7
'106.6
'-2.2
'-1.0
r
106.3
r
-3.3
'-1.7
'106.5
'2.3
'-1.5
'1122
'1118
'3.3
'26
109.1
r
'134.0
1338
107.1
-3.3
1.1
'597.5
'4.0
'1.5
110.2
* 11 0.8
10. PERSONAL INCOME AND CONSUMER ATTITUDES
58
83*
122
123*
Consumer sentiment, U. of Michigan, 1966:1=100, NSA
(L.L.L)©1.
Consumer expectations, U. of Michigan, 1966:1=100,
NSA(L.L.L)© 1 .
Consumer confidence, The Conference Board,
1985=100 (L.L.L).
Consumer expectations, The Conference Board,
1985=100 (L,L,L).
77.6
82.1
82.9
82.0
83.0
78.3
69.1
68.2
67.5
68.8
76.0
77.2
79.2
80.4
76.6
70.3
75.9
74.4
75.3
76.4
70.5
61.9
61.5
59.1
61.8
70.3
70.5
71.2
70.7
67.6
68.5
78.0
77.7
76.1
72.9
60.1
52.7
52.5
50.2
47.3
56.5
65.1
71.9
72.6
61.2
85.8
100.9
100.3
96.8
95.4
79.5
69.7
72.6
68.7
63.5
76.7
89.7
96.9
95.9
80.1
11. SAVING
Gross saving bil $ AR
708.2
701.9
199.6
298*
293*
Business saving bil $ AR
Personal saving bil $ AR
Government surplus or deficit bil $ AR
Personal saving rate percent
85*
102*
105
106*
Money:
Percent change in
Percent change in
Money supply M1,
Money supply M2
290
295
292
679.4
693.9
191.0
715.4
219.4
-193.3
-205.6
-2366
-2726
'692.1
'737.3
'236.1
'-281.3
4.7
4.5
5.1
4.9
'5.4
698.2
677.5
7354
214.6
12. MONEY, CREDIT, INTEREST RATES, AND STOCK PRICES
107
108
93
94
112*
113*
111
110*
14
39
money supply M1 (L,L,L)
money supply M2 (L,C,U)
bil. 1982$ (L,L,L)
bil 1982$ (ILL)
Velocity of money:
Ratio, gross domestic product to money suppy M1
(0,0,0).
Ratio, personal income to money supply M2 (C.Lg.C) ..
Bank reserves:
Free reserves mil.$, NSA (L,U,U)i
Member bank borrowings from the Federal Reserve,
mil.$, NSA (L,Lg,U).
Credit flows:
Net change in business loans, bil.$, AR (L.L.L)
Net change in consumer installment credit, bil.$, AR
(L,L,L).
Percent change in business and consumer credit outstanding, AR (L.L.L).
Funds raised by private nonfinancial borrowers in credit
markets, mil.$, AR (L.L.L).
Credit difficulties:
Current liabilities of business failures, mil.$, NSA
Percent of consumer installment loans delinquent 30
days and over (L,L,L)Oi.
.76
'.07
611.9
.63
.06
613.7
1.02
'.18
618.6
'2,408.1
'2,401.1
'2,400.3
.75
'.24
1.37
'.27
2.26
.80
.86
'-.04
'.40
'-.16
'1.22
'.05
'-.26
'-.26
'.96
'-.08
627.2
'2,402.2
635.3
'2,407.0
647.9
'2,419.6
649.8
'2,405.3
'651.1
'2,396.5
'658.1
'2,394.6
'654.6
'2,381.8
'660.0
'2,376.6
'1.424
1.438
'1.433
1.435
'1.441
1.445
1.449
'1.455
'1.459
834
261
785
108
788
192
771
233
990
77
939
91
1,049
90
845
155
684
229
'679
'284
-7.63
21.31
-8.68
-68.50
-46.39
2.06
1.66
-15.18
-1.93
9.83
'-26.48
-43.00
'-41.66
'-10.72
'-43.28
'-12.23
-9.3
-1.5
-3.2
-5.4
-4.1
.75
.18
.31
-.13
608.0
2,419.7
609.5
'2,415.0
1.419
1.415
1.417
1.422
'1.425
882
373
676
340
345
607
622
764
586
645
-39.46
-50.14
-19.38
9.85
-134.86
-18.14
-69.48
-15.43
6.601
-7.54
-5.7
-7.9
-9.2
182,554
2.58
-13.9
' 1 .430
128,464
116,540
101,143.9 '15,757.6
2.73
'4,734.1
'3,202.1
2.79
2.79
6.301
6.464
6.596
'5,963.0 '10,126.2
NOTE—The following current high values were reached before June 1991: January 1983—BCI-102 (2.82); May
1983—BCI-123 (124.3); July 1983—BCI-14 (829.2); February 1984—BCI-39 (1.78); March 1984—BCI-58 (101.0) and
BCI-83 (97.7); 1st Q 1984-BCI-22 (7.0); May 1984-BCI-93 (-2,381); June 1984-BCI-111 (22.7); August 1984BCI-94 (8,017); 4th Q 1984—BCI-107 (7.058); March 1985—BCI-113 (138.85); 3d Q 1985—BO 1-81 (8.4); 4th Q
1985-BCI-110 (978,568); 1st Q 1986-BCI-26 (105.1); December 1986-BCI-85 (2.50); May 1988-BCI-106
1.19
.40
623.8
'2,401.5
.70
.25
609.2
2,409.6
2.74
2.58
38.45
-2.68
.6
'6.212
-11.88
-7.2
'-6.
' 1 1 .39
'-6.1
'221,264
'5,260.2
'6,659.9
'8,445.7
2.62
2.58
2.94
'6,839.3 '6,325.7
2.84
'7,881.2 '12,020.3 '13,932.0
2.86
(2.473.4); October 1988-BCI-53 (671.2); 4th Q 1988-BCI-18 (215.1): February 1989-BCI-122 (120.7); May 1989BCI-112 (119.74); April 1990—BCI-51 (3,484.8); December 1990—BCI-62 change (31.3): and March 1991—BCI-62
smoothed (8.9).
See page C-6 for other footnotes.
August 1992 •
SURVEY OF CURRENT BUSINESS
Series
no.
Year
C-5
1992
1991
Series title and timing classification
June
1991
July
Sept.
Aug.
|
Oct.
Nov.
Dec.
Jan.
Mar.
Feb.
May
Apr.
June
July *
12. MONEY, CREDIT, INTEREST RATES, AND STOCK PRICES-Continued
Outstanding debt:
Consumer installment credit outstanding, mil.$
(Lg,Lg,Lg)0.
Commercial and industrial loans outstanding, mil.$,
66
72
101 *
95*
119*
114*
116*
115*
117
118
109*
19*
(Lg,Lg,Lg).
Commercial and industrial loans outstanding, mil. 1982$
730,109
728,823
727,311
727,449
729,225
727,960
727,799
728,618
728,395
727,404
449,234
451,073
451,894
440,656
434,866
434,230
433,507
427,799
423,933
427,137
427,309
r
385,475
387,520
389,228
379,222
374,562
373,050
372,429
369,110
366,724
368,222
368,053
'365,522
15.13
15.12
15.10
15.00
14.96
14.91
14.89
14.72
14.74
14.60
14.52
5.69
5.41
5.90
5.60
9.37
8.54
7.13
9.71
5.82
5.58
9.38
8.50
7.05
9.59
8.50
5.66
5.39
8.88
8.17
6.90
9.14
5.45
5.25
8.79
7.96
6.80
9.06
8.20
5.21
5.03
8.81
7.88
6.68
8.71
8.00
4.81
4.60
8.72
7.83
6.73
8.69
7.58
443
403
406
398
373
382
376
325
4.12
8.55
7.58
6.69
8.10
7.21
3.84
3.84
8.36
7.48
6.54
8.72
8.63
7.78
6.74
8.74
6.50
3.81
8.59
7.88
6.67
8.79
6.50
3.66
8.57
7.80
6.57
6.50
4.05
8.62
7.93
6.76
8.85
6.50
3.70
8.45
7.72
6.49
8.56
6.50
3.28
8.19
7.40
6.13
8.12
6.02
385.92
388.51
416.08
412.56
407.36
407.41
414.81
408.27
415.05
11 134
8,075
P 1 1 262
6,126
6,730
'5,272
'82.3
(Lg,Lg,Lg).
Ratio, consumer installment credit outstanding to personal income, percent (Lg.Lg.Lg).
Interest rates (percent, NSA):
Federal funds rate (L.Lg.Lg)
Discount rate on new 91-day Treasury bills (C,Lg,Lg)
Yield on new high-grade corporate bonds (Lg.Lg.Lg)
Yield on long-term Treasury bonds (C.Lg.Lg)
Yield on municipal bonds, 20-bond average (U,Lg,Lg) ....
Secondary market yields on FHA mortgages (Lg.Lg.Lg) .
Average prime rate charged by banks (Lg.Lg.Lg)
Index of stock prices, 500 common stocks, 1941-43=10,
NSA (L,L,L).
r
727,799
9.05
8.16
6.92
9.25
8.46
8.50
8.50
376.18
378.29
380.23
389.40
93,877
10,276
7,926
9,355
8,825
387.20
386.88
723,821
722,928 '721,909
425,1 02 '421,630
r
14.43
r
360,060
r
14.36
8.66
6.50
'418,023 ' 41 8,972
r
354,858 '355,664
'14.33
13. NATIONAL DEFENSE
525
548
557
570
564*
Defense Department prime contract awards, mil.$
Manufacturers' new orders, defense products, mil.$
Index of industrial production, defense and space equipment, 1987=100.
Employment defense products industries thous
Federal Government purchases, national defense, bil.$, AR
10,201
10,960
16848
5,059
8,462
4,946
8,425
91.1
91.0
90.0
89.8
89.1
89.1
88.8
88.1
86.7
1 159
3238
1 156
1 148
1 146
321 9
1 141
1 137
1 129
1 124
1 116
422,389
38,533
89427
487 129
50,154
68941
415962
489,398
-73 436
34,715
3,111
7439
39384
4,352
5464
3147
86.2
85.6
8,101
'84.7
5,854
'84.2
'7,160
'83.6
1 108
1 098
1 084
1 076
'3123
p\ 065
37,083
3,112
36,405
3,584
7522
43469
4,202
6036
3136
14. EXPORTS AND IMPORTS
602
604
606
612
614
616
618*
620*
622
Exports, excluding military aid shipments, mil.$
Exports of domestic agricultural products, mil.$
Exports of nonelectrical machinery, mil.$
General imports mil.$
.
.
Imports of petroleum and petroleum products, mil.$
Imports of automobiles and parts mil $
Merchandise exports, adjusted, excluding military, mil.$! .
Merchandise imports, adjusted, excluding military, mil.S1 ....
Balance on merchandise trade mil $ '
35,188
3,229
7555
40823
4,141
5860
34,463
3,209
7258
41 078
4,381
35,280
3,254
7609
41 757
3,958
36,840
3,502
7656
42712
4,041
6314
6161
6150
104151
124,325
-20 1 74
37,268
3,290
7996
41 382
3,736
5941
36,052
3,594
7749
41 674
3,968
5539
35,466
3,292
7352
41 266
3,391
6066
107.4
106.6
107851
126,390
-1 8 539
37,653
3,610
7948
40948
3,312
5644
'107946
'125,168
'-17222
7318
42668
3,464
6005
'35,717
3,109
7504
'42 859
3,939
5989
' 107 580
'131,998
/>_24418
38,283
3,729
8210
44876
4,749
5918
15. INTERNATIONAL COMPARISONS
47*
721 *
728*
725*
726*
722*
727*
723*
320
738
•
735 *
736 *
4
732
t
737
733 *
+
19*
748*
745*
746*
742*
747*
743*
Industrial production indexes (1987=100):
United States
OECD, European countries2
Japan .
Federal Republic of Germany
France
United Kingdom
Italy ....
Canada
Consumer price indexes (1982-84=100):
United States, NSA
Percent change over 6-month span,
Japan, NSA
Percent change over 6-month span,
Federal Republic of Germany, NSA
Percent change over 6-month span,
France, NSA
Percent change over 6-month span,
United Kingdom, NSA ,
Percent change over 6-month span,
Italy, NSA
Percent change over 6-month span,
Canada, NSA
Percent change over 6-month span,
107.1
AR
AR
AR
Stock price indexes (1967=100, NSA):
United States
Japan .
Federal Republic of Germany
France
United Kingdom
Italy ....
Canada
108.1
107.2
107.6
108.1
110
111
109
111
112
111
110
123.9
123.8
122.0
121.5
120.6
'117.2
'117.6
118
110
100
121
110
101
119
111
101
117
111
100
117
110
100
117
111
100
118
110
100
113
109
100
119
111
99
120
110
100
118
110
117
111
100
108.1
111.5
'97.3
107.4
105.0
'97.2
108.8
106.6
97.7
97.0
136.0
97.4
136.2
3.0
3.0
3.0
115.0
114.8
114.7
.2
136.6
3.3
114.9
137.2
3.1
115.1
137.4
3.1
116.4
'100
95.8
96.3
105.4
'96.5
'109.6
'95.8
137.8
137.9
138.1
138.6
139.3
139.5
3.4
3.4
116.0
115.8
139.7
140.2
3.1
3.2
116.3
117.5
'i'i'f'i
117.5
12u'b
120.5
120.7
140"5
140"9
141.0
14l"5
163.7
163.7
163.1
.3
2.1
119.2
119.7
3.5
2.8
2.5
2.3
3.5
116.8
117.0
117.4
117.9
118.0
6.0
4.7
2.8
3.4
3.8
3.4
3.1
3.9
137.2
136.9
137.4
137.7
138.0
138.9
139.1
139.4
139.8
140.2
2.9
3.1
3.4
156.9
157.6
157.2
4.2
3.5
157.6
3.5
158.1
138.6
32
3.7
3.4
2.8
159.3
159.4
159.3
3.7
3.4
176.6
177.3
5.6
5.7
5.0
144.0
144.1
144.6
144.6
.7
1.8
.8
1.1
1.5
419.8
1 ,631 .8
313.2
856.9
1,177.6
306.4
390.3
422.6
1,533.4
301.3
809.7
1,130.6
299.4
396.9
452.6
1 ,474.7
315.1
891.2
1,177.6
321.3
406.3
448.8
1 ,426.0
326.7
907.8
1,195.7
326.2
404.7
443.1
1,333.0
331.6
920.4
'1,178.2
312.1
385.6
443.2
1,176.0
334.9
951.3
'1,207.1
'311.0
379.2
90.69
87.98
85.65
86.09
88.04
90.44
89.84
88.30
85.91
82.57
130.77
1.6893
5.7583
.5803
1,263.20
1.1279
129.63
1.6208
5.5391
.5619
1,221.04
1.1302
128.04
1.5630
5.3406
.5473
1,182.21
1.1467
125.46
1.5788
5.3858
.5528
1,189.76
1.1571
127.70
1.6186
5.5088
.5625
1,215.92
1.1825
132.86
1.6616
5.6400
.5801
1,248.28
1.1928
133.54
1 .6493
5.5773
.5693
1,241.55
1.1874
130.77
1.6225
5.4548
.5526
1,220.95
1.1991
126.84
1.5726
5.2940
.5391
1,189.52
1.1960
125.88
1.4914
5.0321
.5215
1,129.83
1.1924
'244.2
210.8
246.8
'211.5
'246.4
'212.7
'247.1
'213.3
'249.2
'215.8
'250.6
'215.3
'251.4
'21 6.9
125.0
130.5
'125.2
'131.1
'125.3
* 131.0
'125.5
3.7
4.0
4.0
172.3
173.5
174^0
5.3
4.1
5.0
5.4
143.1
143.7
143.8
143.9
2.8
2.1
1.1
1.8
.8
1.3
.3
409.2
1,668.4
317.0
814.2
1,145.5
321.7
392.1
411.5
1,712.1
339.3
810.1
1,157.1
355.9
391.6
413.6
1,639.9
329.1
810.1
1,168.0
335.2
400.0
423.6
1,593.0
326.3
832.6
1,200.5
325.8
397.5
421.2
1,612.8
330.2
871.7
1,221.6
315.2
382.8
420.8
1,694.0
315.8
861.7
1,207.1
304.7
397.3
89.73
95.18
95.19
93.47
91.18
134.51
139.75
1.7828
1.6585
6.0483
5.6388
.5667
.6062
1 ,239.62 1,325.09
1.1439
1.1460
137.83
•1.7852
6.0596
.6056
1,329.55
1.1493
136.82
1.7435
5.9244
.5938
1,303.31
1.1452
134.30
1.6933
5.7621
.5792
1,266.25
1.1370
990*
991 *
CIBCR long-leading composite index, 1967=1 00 4
CIBCR short-leading composite index, 1967=1 00 4
238.1
204.0
'239.0
'204.0
'240.7
207.1
'240.3
'206.8
'241.3
'208.0
992*
993*
BEA coincident composite indexes:
Modified methodology, 1982=100 5
Stock and Watson methodology, Aug. 1982=1 00 5
124.8
129.3
125.0
129.5
125.1
130.3
125.1
130.3
125.2
130.6
2.7
163.1
4.3
3.9
171.0
3.9
758*
755*
756*
752*
757*
753*
2.6
160.6
175.9
4.3
170.3
5.6
143.7
2.9
160.1
5.4
4.2
171.4
5.5
4.3
1185
158.7
5.8
169.6
3.1
2.9
115.7
6.0
2.3
1168
'99
112.0
95.4
3.1
140.5
n\i
109.5
116.6
'108.9
'109
95.3
'111.6
'108.5
'110
105.6
5.9
1158
'108.9
* 115.7
112.5
'96.8
4.1
2.3
Exchange rates:
Exchange value of U.S. dollar, index: March 1973=100,
NSA^.
Foreign currency per U.S. dollar (NSA):
Japan (yen)
Federal Republic of Germany (d. mark)
France (franc)
United Kingdom (pound)
Italy (lira) ....
Canada (dollar)
750*
108.4
110
123.7
170^0
AR
108.4
109
122.8
116.0
AR
108.0
111
126.6
136.2
AR
108.1
112
122.8
96.6
AR
107.3
110
124.1
143.4
143.4
144.0
4.6
175.4
178.3
178.9
179.1
144.9
145.2
i'45.6
451.2
444.1
1,176.0
1,242.8
'337.7
'335.8
969.4
938.8
' 1 ,284.2 ''1,226.0
'294.7
302.2
382.8
382.8
451.5
1,132.7
' 320.5
'878.3
'1,122.8
'262.0
389.1
16. ALTERNATIVE COMPOSITE INDEXES
NOTE—The following current high values were reached before June 1991: May 1984—BCI-118 (15.01); June
1984—BCI-115 (13.00), BCI-116 (14.49), and BCI-117 (10.67); August 1984—BCI-109 (13.00). BCI-114 (10.49), and
BCI-119 (11.64); September 1989-BCI-95 (16.05); July 1990-BCI-101 (409,650); October 1990-BCI-72 (476,867);
and November 1990-BCI-66 (736,742).
'243.7
208.6
125.2
130.7
'242.7
'209.2
'241.6
'207.1
124.9
130.4
124.7
129.7
See page C-6 for other footnotes.
124.3
129.1
124.8
129.6
124.9
130.0
SURVEY OF CURRENT BUSINESS
C-6 • August 1992
FOOTNOTES FOR PAGES Ol THROUGH €-5
a
AR
c
©
e
Anticipated.
Annual rate,
Corrected.
Copyrighted,
Estimated.
Available data for later period(s) listed in notes.
NSA
p
r
*
§
o
Not seasonally adjusted.
Preliminary.
Revised.
Graph included for this series.
Major revision-see notes.
End of period.
L,C,l_g,U Cyclical indicator series are classified as L (leading), C (coincident), Lg (lagging), or U (unclassified) at reference cycle peaks, troughs, and overall. Series classifications
are shown in parentheses following the series titles.
t Cyclical indicator series denoted by t are inverted (i.e., the sign is reversed) for cyclical analysis calculations, including classifications, contributions to composite indexes,
and current high values,
t Cyclical indicator series denoted by f are smoothed by an autoregressive-moving-average filter developed by Statistics Canada.
For information on composite indexes and other concepts used in this section, see "Composite Indexes of Leading, Coincident, and Lagging Indicators" in the November 1987
SURVEY OF CURRENT BUSINESS and "Business Cycle Indicators: Revised Composite Indexes" in the January 1989 SURVEY.
References to series in this section use the prefix "BCI-" followed by the series number. Unless otherwise noted, series are seasonally adjusted.
Percent change data are centered within the spans: 1-month changes are placed in the ending month, 3-month changes are placed in the 3d month, 6-month changes are
placed in the 4th month, 1-quarter changes are placed in the ending quarter, and 4-quarter changes are placed in the 3d quarter.
Diffusion indexes are defined as the percent of components rising plus one-half of the percent of components unchanged. Diffusion index data are centered within the spans:
1-month indexes are placed in the ending month and 6-month indexes are placed in the 4th month.
High values reached by cyclical indicators since the last reference cycle trough (November 1982) are shown in boldface type; high values reached prior to the period shown in
the table are listed at the bottom of each page. For inverted series, low values are indicated as highs.
Sources for series in this section are shown on pages C-27 and C-28 in the April 1992 SURVEY.
Page C-1
* Preliminary August 1992 values: BCI-19 = 418.29 and BCI-109 = 6.00.
1. Data exclude Puerto Rico, which is included in figures published by the source agency.
2. Copyrighted. This series may not be reproduced without written permission from the University
of Michigan, Survey Research Center, P.O. Box 1248, Ann Arbor, Ml 48106-1248.
3. Excludes BCI-57, for which data are not available.
4. Excludes BCI-77 and BCI-95, for which data are not available.
reported in the national income and product accounts (see note for page C-2 of the July 1992 SURVEY).
Periods covered by these revisions are as follows: BCI-26, -63, -358, and -370 from 1959 forward; and
BCI-345 and -346 from 1989 forward.
For further information, contact the U.S. Department of Labor, Bureau of Labor Statistics, Office of
Productivity and Technology, Division of Productivity Research, Washington, DC 20210.
* Preliminary August 1992 values: BCI-122 = 58.0, BCI-123 = 76.9, and BCI-85 = 1.30.
1. Copyrighted. This series may not be reproduced without written permission from the University
of Michigan, Survey Research Center, P.O. Box 1248, Ann Arbor, Ml 48106-1248.
Page C-2
* Anticipated 3d quarter 1992 values: BCI-61 = 557.55 and BCI-100 = 526.96; anticipated 4th quarter
1992 values: BCI-61 = 562.89 and BCI-100 = 533.74.
1. Data exclude Puerto Rico, which is included in figures published by the source agency.
2. Copyrighted. This series may not be reproduced without written permission from McGraw-Hill
Information Systems Company, F.W. Dodge Division, 1221 Avenue of the Americas, New York, NY
10020.
Page C-3
* Preliminary August 1992 value: BCI-23 = 283.3.
1. Copyrighted. This series may not be reproduced without written permission from Commodity
Research Bureau, Inc., 75 Wall Street, 22d Floor, New York, NY 10005.
Page C-4
NOTE.—Major data revisions: Series on productivity and costs (BCI-26, -63, -345, -346, -358, and
-370) have been revised by the source to incorporate revised output and compensation measures
Page C-5
* Preliminary August 1992 values: BCI-119 = 3.30, BCI-114 = 3.14, BCI-116 = 7.95, BCI-115 = 7.16,
BCI-117 = 6.11, BCI-109 = 6.00, BCI-19 (1941-43=10) = 418.29, BCI-19 (1967=100) = 455.0, BCI-748
= 1,082.4, BCI-745 = 292.9, BCI-746 = 843.1, BCI-742 = 1,054.9, BCI-747 = 249.8, BCI-743 = 384.7,
BCI-750 = 81.70, BCI-758 = 127.01, BCI-755 = 1.4646, BCI-756 = 4.9604, BCI-752 = 0.5191, BCI-757
= 1,110.40, and BCI-753 = 1.1899.
1. Balance of payments basis: Excludes transfers under military grants and Department of Defense
sales contracts (exports) and Department of Defense purchases (imports).
2. Organisation for Economic Co-operation and Development.
3. This index is the weighted-average exchange value of the U.S. dollar against the currencies of
the other G-10 countries plus Switzerland. Each country is weighted by its 1972-76 global trade. For a
description of this index, see the August 1978 Federal Reserve Bulletin (p. 700).
4. This index is compiled by the Center for International Business Cycle Research (CIBCR), Graduate
School of Business, Columbia University, New York, NY 10027.
5. For an explanation of this index, see "The Composite Index of Coincident Indicators and Alternative
Coincident Indexes" in the June 1992 SURVEY.
Notes for Pages C-7 Through C-24
The following notes explain general features of the charts that appear in this section:
• Business cycle peaks (P) and troughs (T), as designated by the National Bureau of Economic
Research, Inc., are indicated at the top of each chart. The shaded areas represent recessions.
• For each series classified as a cyclical indicator, the timing classifications at peaks, at
troughs, and overall are shown in a box adjacent to the title. (L = leading, C = coincident, Lg =
lagging, U = unclassified.) A complete list of series titles and sources is shown in the April and
October issues of the SURVEY.
• Arithmetic scales are designated "Scale A." On the same arithmetic scale, equal vertical
distances represent equal differences in data. (For example, the vertical distance from 10 to 15
is the same as the distance from 100 to 105.)
• Logarithmic (log) scales are designated L-1, L-2, or L-3 to indicate their relative size. On
log scales of the same size, equal vertical distances represent equal percentage changes. (For
example, the vertical distance from 10 to 15 is the same as the distance from 100 to 150.)
Compared with an L-1 scale, the same percentage change covers half the distance on an L-2
scale and one-third the distance on an L-3 scale.
t Data are monthly unless otherwise indicated. Quarterly data are indicated by a "Q" following
the series title.
• Some series include a centered moving average, which is shown as a heavy line
superimposed on the actual monthly data.
• Parallel lines across a plotted series indicate a missing data value, change in definition, or
other significant break in continuity.
• The box near the end of each plotted series indicates the latest data month (Arabic numeral)
or quarter (Roman numeral) shown or, for series computed over a span of time (diffusion indexes
and rates of change), the latest data period used in computing the series.
SURVEY OF CURRENT BUSINESS
August 2992 • C-7
^ompgsitejndexes
Aug. Apr.
P T
Apr. Feb.
P...L.
Dec. Nov.
P T
Nov. Mar.
P T
Jan. July July Nov.
PT P
T
Composite index of 11 leac ing indicators
(series 1,^,19,20,20
I
&J&dfis
920. Composite
4 coincident indica tors
(series 41,47,51
ndex of 7 fagging
cident index 1 o lagg ng index
1955 56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 71 72 73 74 75 76 77 78 79 80 81 82 83 84 85 86 87 88 89 90 911992
NOTE.—The numbers and arrows indicate length of leads (-) and lags (+) in months from business
cycle turning dates. Current data for these series are shown on page C-1.
SURVEY OF CURRENT BUSINESS
C-8 • August 1992
jCornpositeJndexe^^
Aug. Apr.
Apr. Feb.
P T
P
T
over 3-month span, annual rate
Composite Indexes: Diffusion
950. Diffusion index of 1'
rising over 6-month span
Diffusion indue of 4 coincident in lie
952. Diffusion index of 7
1955 56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 71 72 73 74 75 76 77 78 79 80 81 82 83 84 85 86 87 88 89 90 911992
NOTE —Current data for these series are shown on page C-1.
SURVEY OF CURRENT BUSINESS
August 1992 • C-9
Composite Indexes: Leading Index Components
Aug. Apr.
P T\
Dec. Nov.
P T
Apr. Feb.
P T
Nov. Mar.
P
T
1. Average weekly hou
manufacturing (h
rams (housands—inverted scale)
Average weekly initial claims for
Contracts and orders
Jan. July July Nov.
PT P T
equip nentiri 1982
1955 56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 71 72 73 74 75 76 77 78 79 80 81 82 83 84 85 86 87 88 89 90 911992
NOTE.—Current data for these series are shown on page C-1.
C-10
August 1002
SURVEY OF CURRENT BUSINESS
Composite Indexes: Leading Index Components—Continued
durab! e gooc s indu stries,
1955 56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 71 72 73 74 75 76 77 78 79 80 81 82 83 84 85 86 87 88 89 90 911992
1. This series is smoothed by an autoregressive-moving-average filter developed by Statistics Canada.
2. This is a copyrighted series used by permission; it may not be reproduced without written permission
from the University of Michigan, Survey Research Center.
NOTE.—Current data for these series are shown on page C-1.
SURVEY OF CURRENT BUSINESS
Employees on nonagncultural
51. Personal income less transfe
1955 56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 71 72 73 74 75 76 77 78 79 80 81 82 83 84 85 86 87 88 89 90 911992
NOTE.—Current data for these series are shown on page C-1.
C-12
SURVEY OF CURRENT BUSINESS
August 1992
Composite Indexes: Lagging Index Components
Aug. Apr.
P T
Dec. Nov.
P T
Apr. Feb.
P T
Nov. Mar.
P
T
Jan. July July Nov.
PT P
T
91.i Average
duration
of unemplo
i
y&£;' i
t
manufacturing and rade invento
j
62. Change in index of I
cost per unit of output manufacture
ann. rate,
percent)
1
i—i—
v/
109. Average prime rate cha
[—[
"V
by banks (ptrcent)
101 Commercial and
95. Ratio, co nsume r installment credit c u
mcomejagtentiUfljjg y
120. Change in Consumer P
ndex for serv ces,
1955 56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 71 72 73 74 75 76 77 78 79 80 81 82 83 84 85 86 87 88 89 90 911992
1. This series is smoothed by an autoregressive-moving-average filter developed by Statistics Canada.
NOTE.—Current data for these series are shown on page C-1.
August 1992
SURVEY OF CURRENT BUSINESS
• C-13
Employment and Unemployment
Nov.
Dec. Nov.
P
P
T
Jan. July
P T
Mar.
T
July
P
July
P
Nov.
T
21 Average weekly overtime hours of product on or no isupervi >ory workers, manufacturing (houjrs)
<
«
£
t&$&£-—
46. Help-wanted advertising in nevrspapers (index: 1967=100
180160140120'
100-
1
£
220'
200'
180160
140J
28
2624'
22'
o
CO
*
6462'
6058-
56-
43. Civilian unemployment rate (percent—ir verted scale)
sw*j*-
3579'
11'
1964 65
66 67
68 69
70 71
72
73 74 75
NOTE.—Current data for these series are shown on page C-2.
76 77
78
79 80 81
82 83 84 85
86 87
88 89 90
91 1992
s
en
C-14
•
August 1992
SURVEY OF CURRENT BUSINESS
Output, Production, and Capacity Utilization
ion, nondurable manufactures (index: 1987i100)
1964 65
66 67
68
69 70
71 72 73
NOTE.—Current data for these series are shown on page C-2.
74 75
76 77
78 79 80 81
82 83 84 85
86 87
88 89 90
91
1992
SURVEY OF CURRENT BUSINESS
August 1992
Sales and Orders
Wages and Consumer Attitudes
1 he Conference Board (index
1964 65
66 67
68
69 70
71
72 73
74
NOTE.—Current data for these series are shown on pages C-2 and C4.
75
76 77
78
79
80 81
82 83
84
85
86
87
88
90
91 1992
• C-15
C-16
SURVEY OF CURRENT BUSINESS
August 1992
Fixed Capital Investment
Dec. Nov.
P
Nov.
Mar.
P
T
T
Jan. July July
P T
P
Nov.
T
ncorporcitions (thousands
tracts awarded for commercial and industrial
1964 65
66 67 68
70 71 72
73
74 75
76 77
1. This is a copyrighted series used by permission; it may not be reproduced without written
permission (rom McGraw-Hill Information Systems Company, F.W. Dodge Division.
78 79
80
81
82 83 84 85 86
87 88
NOTE.—Current data for these series are shown on page C-2.
90
91 1992
SURVEY OF CURRENT BUSINESS
August 1992
• C-17
Fixed Capital Investment—Continued
Dec. Nov.
P
T
business equipn ent (ind
Gross private
(ann. rate, bil. do!.)
1964 65
66 67
68 69 70
71 72
73
74 75 76 77 78
1. Dotted line represents anticipated expenditures.
NOTE.—Current data for these series are shown on pages C-2 and C-3.
79 80
81 82 83 84 85
86 87
88 89 90
91 1992
C-18 •
SURVEY OF CURRENT BUSINESS
August 1992
Fixed Capital Investment—Continued
Dec. Nov.
P
T
reside itial fixed investn
Inventories and Inventory Investment
in business inventories in
1964 65
66 67
68 69 70
71 72
73 74
NOTE.—Current data for these series are shown on page C-3.
75 76 77 78 79
80 81
82 83 84
85 86
87 88 89
90
91 1992
SURVEY OF CURRENT BUSINESS
August 1992
• C-19
Prices and Profits
Dec. Nov.
P
T
tax to corporate domestic
corporate domestic income, Q (percent)
1964 65
66 67
68
70
71
72
73
74
75
IVA Inventory valuation adjustment. CCAdj Capital consumption adjustment.
NOTE.—Current data for these series are shown on pages C-3 and C-4.
76 77
78
79
80
81
82
83
84 85
86
87
88
89
91
1992
1. From June 1981 forward, this is a copyrighted series used by permission; it may not be
reproduced without written permission from Commodity Research Bureau, Inc.
C-20
•
August 1992
SURVEY OF CURRENT BUSINESS
Money, Credit, and Interest Rates
Jan.july July
P T
P
Nov.
T
Jan. July
P T
July
P
Nov.
T
yM1 (tercent)
jFe Jeral fun Js rate (f ercent)
102. Change in rroney supply
Discount rate on
of 91
Treasurybijlsjpercenti
e in business loans
ann. rate. bil. dol.
on new issi les of high-grade
corpora :e bonds (percent
n consumer insta merit
(ann. rate, bil. dol.V
ong-term Treasury bondsj (percent
s raised by private no
arkets, Q (ann
1980 81
82 83
84 85
86
87 88 89
90 91 1992
1. The heavy line is a centered 6-term moving average.
NOTE.—Current data for these series are shown on pages C-4 and C-5.
1980 81
82 83 84 85
86 87
88
90
91 1992
SURVEY OF CURRENT BUSINESS
August 1992
• C-21
Alternative Composite Indexes
Dec.
Nov.
Nov.
Mar.
P
T
P
T
Jan. July July
P T
P
Nov.
T
July
P
260240220-
CIBCR li jading indexes—
200180-
990. Long-leading ind»x (1967:100)
160-
140240
220200-
180-
991. Short-leading index (1967=100)
160140120100140-
BEA co ncident indexes-
120-
Modified metnocotogyM
100-
80140120-
Slock and Watso rt methodology1 (, tog. 1982=100)
100-
1964 65
66 67
68
69 70
71
72
73
74
75
76 77
78
CIBCR Center for International Business Cycle Research (Columbia University).
1. See "Tne Composite Index of Coincident Indicators and Alternative Coincident Indexes,* SURVEY
79
80
81
82
83
84
85
86 87
88
89
OF CURRENT BUSINESS 72 (June 1992): 42-45.
NOTE.—Current data for these series are shown on page C-5.
90
91
1992
C-22
•
SURVEY OF CURRENT BUSINESS
AugUSt 3002
Other Measures
Jan.July
P T
July
P
Nov.
T
July
P
J
Jan. July
P T
July
P
July Nov.
P
T
I
Percent change at annual rate
311c. Fixed-weighted price index, gross
domestic business product (1-Q span)
1020-
8-
100-
64-
6-month span
2-
Indexes for all
20-i
29a Governn lentsurpllusuorjleficit, Q
1<H-
o-J
400-40-
msJess J:oMan<leneray
-80-
-120-
-160-200-240-280-
Producer Price Indexe
336c. Finished good
20-
100-
370<f. Change in output per hour, all persons,
,percent)
10-
-10-
5-
337c. Finished goods less foods and
20-
0-
100-10-1
334c. Finished consumer goods
20-
-5-
564. Federal
defense, Q (ann
400350-
OHǤ
300-
-10J
250-
333c. Capital eauipment
20-
200-
100-
150-
-10-
332c. Intermediate materials, supp
20-
100-10-1
620, merchandise imports, adjusted, excluding
nilitary, 3 (ann. rate, bil. dol.)
650550450350-
403020-
250-
10-
0-
-10150 J
-20-30-
1980 81
82 83 84 85
86
87 88 89
90 91 1992
NOTE.—Current data for these series are shown on pages C-3, C-4, and C-5.
1980 81
82 83 84 85
86
87
88 89 90
91 1992
SURVEY OF CURRENT BUSINESS
International Industrial Production
Jan.July July Nov.
P T
P
T
August 1992
International Consumer Prices
Jan. July July Nov.
P T
P
T
Index: 1987=100
Percent change over 6-month span, annual rate
Industrial production-
Const merpricjs—
320c. United States
721. OECD European countries
Federal Republic of Germany
Federal Republic of Germany
732c. United Kingdom
1980 81
82 83 84 85
86
87 88
89
NOTE.—Current data for these series are shown on page C-5.
90 91 1992
1980 81
82 83
84 85
86 87
88
90
91 1992
* C-23
C-24
• August 1992
SURVEY OF CURRENT BUSINESS
International Exchange Rates
International Stock Prices
Jan. July July
P T
P
Nov.
T
755.1F|deral
Germany (d
1980
81
82 83
84
85
86
87
88
NOTE.—Current data for these series are shown on page C-5.
90 91 1992
1980 81
82 83 84 85
86 87
88
89 90
91 1992
SURVEY OF CURRENT BUSINESS
August 1992
S-l
CURRENT BUSINESS STATISTICS
Series originating in Government agencies are not copyrighted and may be reprinted freely. Series from private sources
are provided through the courtesy of the compilers and are subject to their copyrights.
Current data for the series shown in the S-pages are available on diskette on a subscription basis or from the Commerce
Department's Economic Bulletin Board. Historical data, data sources, and methodological notes for each series are published
in BUSINESS STATISTICS, 1963-91. For more information, write to Business Statistics Branch, Business Outlook Division
(BE-52), Bureau of Economic Analysis, U.S. Department of Commerce, Washington, DC 20230.
NOTE.—This section of the SURVEY is prepared by the Business Statistics Branch.
Unless otherwise stated in footnotes below, data
through 1991 and methodological notes are as shown in
BUSINESS STATISTICS, 1963-91
Annual
1990
1992
1991
June
1991
July
Sept.
Aug.
Nov.
Oct.
Dec.
Jan.
Feb.
Mar.
| May
Apr.
June
July
1. GENERAL BUSINESS INDICATORS
PERSONAL INCOME BY SOURCE f
[Billions of dollars]
Seasonally adjusted, at annual rates:
Total personal income
Wage and salary disbursements, total
Commodity-producing industries, total
Manufacturing
Distributive industries
Service industries
Government
Other labor income
Proprietors' income: ±
Farm
Nonfarm
Rental income of persons with capital consumption
adjustment
Personal dividend income
Personal interest income
Transfer payments to persons
Less: Personal contributions for social insurance
Total nonfarm income
46642
48283
48281
48276
48475
48634
48893
48874
49449
49432
49887
50096
'50150
'50327
'50388
50500
2,742.8
745.6
556.1
634.6
847.8
514.8
2,825.3
736.8
556.0
653.5
889.8
545.2
287.5
2,814.4
737.3
557.7
647.3
884.4
545.5
2,825.6
739.4
559.5
2,833.1
739.7
559.8
2,884.9
2,895.0
739.6
r
654.1
2,861.2
742.9
565.4
655.4
2,852.8
733.9
651.8
890.3
544.2
290.6
896.0
543.3
292.1
2,835.4
744.3
565.7
650.0
896.6
544.6
293.6
2,838.5
737.3
560.5
653.2
271.0
2,812.2
737.4
556.9
647.4
883.9
543.6
288.3
'2,907.6
'745.3
'566.3
'664.7
'936.3
'561.3
303.6
'2,905.7
'742.1
'563.6
'663.2
'936.3
'564.1
305.0
2,910.2
740.6
564.0
664.0
938.4
567.2
306.4
41.7
35.8
31.2
28.7
28.6
40.9
325.2
332.2
36.0
330.1
337.2
337.3
338.2
-12.3
140.3
-10.4
137.0
-11.7
136.0
-11.5
135.9
694.5
685.8
224.8
4,599.6
700.6
699.4
238.4
4,770.4
696.8
767.0
239.0
4,770.0
-10.7
135.6
701.8
4,774.3
778.7
240.2
4,796.8
4,813.0
46642
48283
48281
48276
48475
4,863.4
4,889.3
621.3
618.7
618.9
615.7
618.7
621.4
621.6
621.2
624.1
621.8
4,228.8
4,028.9
3,906.6
449.3
1 ,254.1
2,203.2
4,242.0
4,051.0
3,928.7
455.5
1,252.1
2,221.1
4,267.7
4,043.1
3,920.8
4,266.2
4,068.8
3,946.5
450.2
1,251.7
2,244.7
4,320.9
4,084.4
3,961 .5
4,321.4
4,131.3
4,007.8
450.0
1 ,253.0
2,258.5
112.4
112.6
112.6
9.9
9.7
9.7
224.5
197.3
771.1
289.1
771.0
239.1
557.1
654.4
737.1
561.1
2,890.6
741.2
561.6
563.6
663.4
661.0
296.4
552.8
297.8
664.9
928.0
555.0
299.2
29.1
43.8
30.5
40.7
49.0
339.7
339.5
340.7
349.0
354.8
356.9
-8.6
135.4
-12.3
134.7
-4.8
134.3
-2.8
133.8
-6.2
133.8
-3.2
134.2
'-1.2
135.4
'3.3
136.6
'8.0
137.9
10.0
139.5
704.2
703.8
702.6
240.7
4,826.5
4,836.5
242.5
4,879.3
835.5
244.9
4,890.7
684.4
844.3
247.3
4,925.8
676.9
848.2
248.2
4,938.2
--676.2
'854.0
'248.3
4,944.9
'675.7
'861.1
'249.8
'4.974.4
'675.2
'864.1
'249.9
'4,985.1
674.2
794.1
703.4
793.7
-4.2
133.6
693.1
4,887.4
4,944.9
4,943.2
1,272.3
2,266.4
4,988.7
627.9
4,360.8
4,153.8
4,030.3
475.5
1 ,280.6
2,274.3
5,009.6
609.0
4,400.6
4,153.7
4,030.3
463.5
1 ,269.5
2,297.3
'5,015.0
'614.1
'4,400.9
'4,162.1
'4,039.0
'462.6
1 .274.0
'2,302.4
113.3
113.4
113.3
113.3
112.4
'5,032.7
'617.1
'4,415.7
'4,175.0
'4,052.4
'466.9
'1,280.3
'2,305.2
'111.9
'5,038.8
'617.2
'4,421.6
'4,192.8
'4,070.4
'478.9
'1,277.5
'2.313.9
'111.7
9.7
10.2
10.2
10.2
'10.7
'10.7
'10.7
10.7
236.5
190.1
207.0
246.8
'238.8
'240.7
'228.8
226.7
781.5
241.1
901.4
546.5
295.0
241.2
914.8
548.1
811.7
911.7
936.1
r
556.0
300.7
929.8
558.6
302.1
r
r
'47.6
35.7
'31.0
28.8
358.6
359.0
'361.8
362.3
869.1
250.6
4,998.4
DISPOSITION OF PERSONAL INCOME f
[Billions of dollars, unless otherwise indicated]
Seasonally adjusted, at annual rates:
Total personal income
Less: Personal tax and nontax payments
Equals' Disposable personal income
Less' Personal outlays
Personal consumption expenditures
Durable goods
Nondurable goods
Services
Interest paid by persons
Personal transfer payments to rest of the world
(net)
Equals' personal saving
Personal saving as percentage of disposable personal income §
Disposable personal income in constant (1987) dollars
Personal consumption expenditures in constant
(1987) dollars
Durable goods
Nondurable goods
Services
Implicit price deflator for personal consumption expenditures 1987-100
4,042.9
38673
3,748 4
464.3
1 2245
20597
109.6
4,209.6
40099
3 887.7
446.1
1 251 5
21901
112.5
4,209.2
4015.7
3,893.1
449.5
1 2564
2 187.3
112.7
4,212.0
4,029.8
3,907.4
454.3
1 ,259.8
2,193.3
112.5
112.5
9.9
451.1
1 ,249.5
2,220.1
469.1
5,050.0
620.0
4,430.1
4.203.4
4,081.1
470.3
1 .284.9
2,325.9
111.6
9.3
9.7
9.8
9.9
1756
1996
1936
182.2
43
47
45
45
45
48
48
51
48
4.9
49
5.3
5.5
'5.4
5.2
35165
35090
3513.9
3,510.4
3,512.7
3,511.3
3,526.4
3,513.4
3,552.5
3,549.3
3,565.9
3,581.9
'3,574.2
'3,580.6
'3,580.2
3,583.7
3,260 4
4393
1,056.5
1 7646
3 240.8
3,250.0
3,245.0
3,250.1
3,257.0
4147
419.2
415.8
414.8
417.6
1,046.6
1,784.2
1 ,042.9
1,785.4
3;252.1
420.7
1 ,039.3
1,792.0
3,239.8
1,042.4
1 783.7
3,256.5
420.9
1 ,052.0
1,783.6
1 ,037.2
1,786.8
1,034.7
1,800.6
1,034.7
1 ,804.6
3,291.7
433.8
1,052.7
1,805.2
3,295.6
437.7
1,055.2
1,802.7
3,280.5
425.6
1 ,040.9
1,813.9
'3,280.3
'423.9
'1,044.4
'1,812.0
'3,286.1 '3.295.8
'426.0
'437.0
' 1 ,048.8 '1,042.9
'1,811.3 '1,815.8
3,301.4
429.4
1,047.9
1 ,824.2
1150
1200
119.8
120.0
120.4
120.8
121.0
121.4
121.6
121.8
122.3
122.9
123.1
123.3
123.5
104.9
107.5
107.1
'106.6
'107.2
'110.3
99.3
103.5
103.1
104.0
100.5
121.2
106.9
106.8
107.0
98.3
110.3
107.7
107.7
107.7
98.5
102.0
107.7
106.6
107.2
1998
416.7
190.9
123.6
INDUSTRIAL PRODUCTION
[1987=100]
Not seasonally adjusted:
Total index
1092
1070
109.2
106.6
110.4
111.4
109.8
107.5
105.2
By industry groups:
Mining
Utilities
Manufacturing
Durable
Nondurable
102.6
108.0
109.9
111.6
107.8
101.1
109.2
107.4
107.1
107.9
100.9
106.8
110.3
109.6
111.1
98.0
110.4
107.1
105.1
109.7
100.6
109.7
111.4
108.8
114.8
100.6
105.7
113.0
110.8
115.7
101.4
97.5
111.7
110.4
113.5
102.0
105.6
108.2
107.8
108.7
100.0
117.2
104.6
104.4
104.9
Seasonally adjusted:
Total index
109.2
107.1
107.3
108.1
108.0
108.4
108.4
108.1
107.4
By market groups:
Products total
Final products
Consumer goods
See footnotes at end of tables.
110.1
110.8
1073
108.1
109.6
107.5
108.6
110.1
108.0
108.7
110.2
108.3
108.5
109.8
108.4
108.9
110.4
109.4
109.0
110.6
109.7
109.0
110.6
110.0
108.4
109.9
109.1
126.2.
107.5
108.7
108.1
108.1
109.4
108.8
''107.5
'97.1
"96.9
108.5
'109.1
'108.7
'109.5
'101.9
'112.3
'110.7
'114.4
'•109.8
"108.3
"105.4
"112.0
107.6
108.1
'108.9
'108.5
"108.9
108.5
109.8
109.3
109.0
110.6
110.1
'109.7
'111.3
'110.6
109.1
"109.3
"110.7
"110.2
'107.1
'98.3
'95.9
'110.8
110.0
SURVEY OF CURRENT BUSINESS
S-2 • August 1992
Unless otherwise stated in footnotes below, data
through 1991 and methodological notes are as
shown in BUSINESS STATISTICS, 1963-91
Annual
1990
1992
1991
June
1991
July
Aug.
| Sept.
Nov.
Oct.
Dec.
I Feb.
Jan.
Mar.
May
Apr.
June
July
1. GENERAL BUSINESS INDICATORS-Continued
INDUSTRIAL PRODUCTION-Continued
[1987=100]
Seasonally adjusted—Continued
By market groups—Continued
Final products—Continued
Consumer goods—Continued
Durable
Automotive products
Autos and trucks
Other durable goods
Nondurable
Foods and tobacco
Clothing
Chemical products
Paper products
Energy products
Equipment, total
Business equipment
Information processing and related
Office and computing machines .
Industrial
Transit
Autos and trucks
Defense and space equipment
Oil and gas well drilling
Manufactured homes
Intermediate products
Construction supplies
Business supplies
Materials
Durable
Nondurable
Energy
By industry groups:
Mining
Metal mining
Coal
Oil and gas extraction #
Crude oil
Natural gas
Stone and earth minerals
Utilities
Electric
Gas
Manufacturing
Durable
Lumber and products
Furniture and fixtures
Clay, glass, and stone products
Primary metals
Iron and steel
Nonferrous
Fabricated metal products
Nonelectrical machinery
Electrical machinery
Transportation equipment
Motor vehicles and parts
Instruments
Nondurable
Foods
Tobacco products
Textile mill products
Apparel products
Paper and products
Printing and publishing
Chemicals and products
Petroleum products
Rubber and plastics products
Leather and products
106.2
103.6
94.3
95.7
108.3
109.8
107.4
108.3
110.2
107.8
111.8
1222
1223
130.3
152.2
108.2
132.7
99.3
131.7
156.0
106.8
133.1
101.1
96.5
96.1
84.9
94.7
95.0
89.1
80.1
86.2
89.1
79.0
86.3
88.8
78.1
87.0
88.1
75.8
87.5
86.7
71.8
98.3
86.2
73.9
85.6
76.2
99.7
1044
96.7
1097
1043
96.5
1097
1041
95.4
110 1
1039
95.9
1094
1038
95.0
1100
1039
95.5
1099
1070
1082
1072
1091
1075
1093
1074
1066
1058
108.1
107.8
108.3
108.8
109.6
108.6
107.7
108.1
107.1
1034
1041
1033
1036
1031
1022
101.1
102.1
102.7
101.3
101.4
100.7
99.6
1502
1093
95.8
88.4
1078
1570
1102
96.9
87.6
1101
1530
1160
96.4
88.3
1090
1555
1108
95.7
88.7
1088
1531
1101
96.0
88.8
1125
1465
151 5
107.9
119.3
108.5
106.4
107.8
107.0
108.0
110.8
977
108.9
112.7
950
111.5
117.1
907
110.9
116.6
897
110.7
115.6
924
107.3
109.7
113.4
958
1099
1075
1075
1083
1084
1089
111 6
101 1
105.9
105.8
108.2
109.7
106.1
105.8
1071
1073
108.1
948
100.5
107.8
953
101.3
95.8
101.2
1265
1235
99.8
1234
111.4
105.5
110.1
111.5
1024
98.3
90.8
1042
1055
100.4
102.3
92.5
98.1
105.7
107.3
109.0
106.9
939
114.3
123.3
110.0
112.8
121 9
130.9
154.0
109.1
128.0
108.1
109.0
106.9
943
115.4
122.1
109.4
112.8
127.2
149.6
115.2
130.0
108.9
106.8
935
115.9
123.4
108.0
112.3
121 6
131.5
155.6
108.1
127.2
96.7
89.2
97.3
91.0
94.1
85.4
103.0
102.2
97.2
109.3
107.6
105.9
957
113.2
119.6
105.9
115.5
1040
98.6
90.2
108.3
1077
106.5
103.0
108.7
109.8
107.8
952
117.3
124.8
106.7
131.1
156.0
109.0
131.2
109.6
107.1
948
117.4
122.6
109.5
111.6
121 3
130.3
153.1
108.6
126.7
90.8
96.6
86.2
91.0
90.8
90.0
97.8
86.5
89.8
86.7
90.3
1033
96.1
1083
1040
97.4
1085
1040
96.9
1090
1055
1071
1054
1067
106.0
104.9
1021
1023
102.5
1528
1134
95.5
87.5
1046
1230
109.3
90.6
1077
105.2
1094
1078
111 8
106.0
941
967
99.1
95.0
99.6
98.2
99.4
95.0
96.4
92.9
101.6
100.4
101.5
96.8
98.8
90.8
99.7
92.5
116.9
118.1
1078
1076
98.7
1079
1086
117.3
107.6
100.7
988
105.4
112.0
110.1
108.3
110.2
100.1
100.6
961
105.0
112.1
110.9
107.6
110.1
99.9
88.1
1086
99.4
101.7
962
105.3
111.2
109.6
109.6
110.5
90.9
1225
106.0
103.6
104.6
101.3
99.0
96.7
108.0
111.1
108.1
965
117.9
126.4
112.0
111.4
121 8
133.4
157.8
104.2
130.5
107.2
110.3
107.0
962
118.0
126.8
109.3
110.9
121 4
134.0
159.1
102.3
129.5
101.3
105.3
101.6
107.5
106.7
105.1
108.1
110.3
107.8
963
117.0
125.6
108.5
111.9
1061
94.2
84.3
106.9
110.0
107.3
950
118.1
126.8
106.8
109.4
95.2
95.1
134.1
160.6
100.7
124.2
118.3
124.7
106.4
110.2
121 0
134.6
162.4
101.3
129.2
119.4
124.6
107.0
110.4
121 5
136.0
164.9
101.3
128.9
1199
101.7
' 104.0
104.4
96.0
1096
96.7
1097
1052
1058
1061
107.0
107.3
108.1
107.1
108.3
108.9
1004
1004
1005
1001
98.8
1540
1076
93.0
87.5
97.8
1442
98.4
1529
97.5
1558
1084
94.1
87.4
107.3
107.9
103.0
92.4
88.0
92.7
86.9
91.9
86.4
112.4
105.9
109.4
112.2
109.1
105.8
105.6
106.4
104.2
104.8
111.0
112.7
106.8
109.3
98.9
1047
108.4
952
101.2
109.0
108.2
938
100.5
108.6
107.8
964
107.9
109.9
100.5
108.1
107.1
952
100.6
106.2
103.5
106.4
109.0
95.5
94.4
94.4
102.6
100.6
105.5
101.4
123.3
111.5
102.3
100.8
104.4
101.9
123.1
111.0
102.2
103.5
105.6
100.5
101.8
122.8
110.7
96.0
88.9
99.9
92.8
93.0
94.2
86.5
r
109.0
107.6
96.9
96.7
105.8
974
108.1
107.0
988
108.5
107.0
992
98.7
92.8
98.1
94.6
98.6
95.0
102.5
105.0
102.7
103.7
101.2
100.5
121.9
110.7
101.4
102.5
99.0
91.6
118.1
109.6
109.5
102.7
103.2
97.7
94.7
98.8
99.4
104.4
102.5
103.1
104.7
97.8
98.3
98.1
98.7
98.8
99.0
97.5
97.7
97.8
108.1
111.9
111.5
108.3
110.1
106.5
112.3
112.3
107.3
112.6
108.0
113.3
112.6
108.6
113.8
109.0
114.4
113.5
106.0
113.2
106.1
114.2
113.0
106.7
112.6
107.0
114.5
112.6
108.6
113.0
107.1
114.8
112.7
106.6
113.2
104.6
114.4
113.4
106.9
114.0
105.8
113.8
114.8
109.7
115.4
91.0
87.1
85.8
83.9
84.3
83.2
83.0
81.4
82.9
'
99.1
1542
104.0
108.2
111.0
"97.7
116.9
109.0
108.7
103.1
104.7
99.7
95.9
r
r
96.7
118.7
109.6
110.1
103.9
'96.5
"1090
r
1068
r
108.7
r
109.4
101.3
107.7
110.7
97.5
121.4
110.0
79.2
100.7
r
109.7
105.9
107.4
98.9
99.7
95.3
120.8
125.1
108.9
111.3
123.0
r
137.9
168.2
101.7
"131.7
101.3
'84.7
103.6
107.4
116.5
108.6
108.3
102.6
104.2
99.5
101.3
101.7
100.8
101.2
121.9
110.6
107.9
106.5
102.5
r
109.1
110.7
"107.6
r
102.6
102.4
102.9
101.9
123.5
109.8
102.4
100.4
118.2
110.1
109.4
102.2
105.5
99.5
103.5
100.9
123.9
111.0
101.3
r
99.9
100.0
122.9
110.9
98.0
94.6
93.8
87.1
96.8
93.8
96.5
94.2
119.0
109.5
109.6
118.3
109.5
109.2
118.6
109.6
109.6
118.6
110.4
110.2
101.3
105.3
111.1
"110.6
"107.8
"111.5
"110.5
"107.2
95.8
"109.7
"108.4
104.0
'110.8
"110.1
"107.0
95.3
"121.1
"124.2
"108.6
"112.2
"124.5
"139.1
"170.5
"103.5
"133.3
105.6
"84.2
"79.2
100.3
"104.5
"97.9
"1092
"1077
"110.3
"109.8
"101.4
"121.6
"122.7
"107.6
"111.8
"124.4
"140.3
"174.0
"102.8
"131.7
101.7
"83.6
"97.1
"104.0
"97.0
"1088
"107.5
"110.1
"110.9
100.1
'104.8
'97.3
'110.1
'•108.4
'110.2
'' 1 1 1 .0
'•103.1
"99.8
"1664
107.6
"93.6
"84.9
110.7
"108.0
"98.3
"163.0
"98.6
"93.7
''101.0
'•162.4
P 114.9
'94.1
74.5
107.0
"113.7
"115.8
r
110.3
116.5
"84.1
"105.8
"113.6
"116.9
"108.7
"116.6
"85.5
546661
547 081
241,749
123,483
118266
158,381
57442
100943
146,947
72.140
74,807
"551 605
581 229
"546145
"241,479
"122,344
"119135
555 020
247,318
126,069
121 249
158,65v
57382
101,271
149,049
74,022
75,027
97.2
101.1
"95.6
r
100.9
"100.9
"100.9
100.6
124.1
r
11 1.0
98.0
98.5
"119.0
110.7
r
109.6
"101.0
"106.3
98.0
"107.8
"110.8
"96.6
"109.8
"109.1
"97.8
103.3
"96.6
"102.0
"102.3
"101.5
"102.2
"126.7
r
112.4
"99.6
102.7
"119.6
"110.7
"109.1
"100.6
"105.9
99.0
BUSINESS SALES
[Millions of dollars; constant (1982) dollar series
in billions of dollars]
Manufacturinq and trade sales (unadi ) total
Manufacturino and trade sales (seas adi ) total
Manufacturing total
Durable goods industries
Nondurable qoods industries
Retail trade total
Durable qoods stores
Nondurable goods stores
Merchant wholesalers, total
Durable goods establishments
Nondurable goods establishments
Manufacturing and trade sales in constant (1982)
dollars (seas adi ) total
Manufacturing
Retail trade
Merchant wholesalers
See footnotes at end of tables.
549 020
548176
563 232
541 579
552 437
491 363
510044
556171
6 406 052 r 534 831 r 539 651 537 373
;
2,873,502 1 2,821 ,699 234,907 237,616 237,844
1 468 644 1 422 578 118,904 120,222 121,021
1 404 858 1 399121 116003 117394 116823
1
1
1 842 73J r 154661 r 154 797 153,81$
1 825 50"
r
652 951
54 962 r 54 830 54080
660 779
r
99 707 r 99 967 99739
1 164728 1 189788
1
1,790,448 1 1,741 ,61 4 r 145,255 "147,238 145,710
71,195
70,935
890,261
846,466 "r 70,225
900,187
75,030
74,775
895,148
76,043
539 269
541 247
540 382
531 919
536 977
545 424
238,836
121,958
1 1 6 878
154,33(
55223
99107
146,103
72,174
73,929
240,912
122,771
118141
240,980
122,814
118166
154,092
54722
99,370
145,310
70,855
74,455
232,730
116,869
115861
154.28C
55406
98874
144,909
70,467
74,442
233,247
118,698
114549
544017
237,898
121,991
115907
159,75'
57961
101 792
146,366
71,644
74.722
6 489 457
1 6 489 457
6 406 052
548 428
520116
;
4739
2228
124 1
127.1
4782
2237
4764
2245
1247
1237
129.8
128.2
154,56?
55450
99119
145,766
71,204
74,562
157,80J
56919
100889
145,922
71 ,280
74,642
240,684
123,503
117181
157,87v
57122
100751
146,867
72,807
74,060
"159,11'
"57643
"101,468
"145,555
"71.340
"74,215
'ioo.o
86.0
110.5
"106.6
"107.1
"110.1
"96.1
"109.6
"108.5
"94.9
"103.0
"96.4
"101.8
"102.0
"101.6
"102.2
"126.6
"112.1
"98.0
"100.2
"118.4
"111.0
"109.1
"101.5
"104.5
"98.4
"107.3
"112.6
"118.0
"109.1
"117.3
"85.8
r
'108.2
''106.2
r 100.1
''109.7
''110.7
'107.2
'95.9
''122.2
'•121.9
''110.9
' 1 1 1 .4
'124.1
'141.7
''178.0
''103.1
'127.8
'95.6
'82.3
''78.6
/' 106.0
'110.9
'114.9
''96.0
''109.5
'108.4
''97.1
'102.5
'96.7
'104.8
'•106.4
'102.5
'102.4
'127.7
' 1 1 1 .6
'96.0
'96.9
'117.8
'110.9
' 1 09.4
'99.7
'102.1
'99.0
'107.9
'112.8
'117.8
'109.1
'116.7
'86.4
SURVEY OF CURRENT BUSINESS
Unless otherwise stated in footnotes below, data
through 1991 and methodological notes are as
shown in BUSINESS STATISTICS, 1953-91
Annual
1990
|
August 1992 •
1991
June
1991
July
Sept.
Aug.
Nov.
Oct.
Dec.
Jan.
Mar.
Feb.
May
Apr.
June
1. GENERAL BUSINESS INDICATORS-Continued
BUSINESS INVENTORIES
[Millions of dollars; constant (1982) dollar series in
billions of dollars]
Manufacturing and trade inventories, book value
(non-LIFO basis), end of period, (unadjusted),
total
Manufacturing and trade inventories, book value
(non-LIFO basis), end of period, (seas, adj.),
total .
826 239
818459
835 985
828184
Manufacturing total
Durable goods industries
Nondurable goods industries
398851
259 746
139,105
386 043
246 966
139,077
Retail trade total
Durable goods stores
Nondurable goods stores
240217
119331
120886
243 162
117,454
125708
Merchant wholesalers total
Durable goods establishments
Nondurable goods establishments
196917
130793
66,124
198979
130566
68,413
Manufacturing and trade inventories in constant
(1982) dollars, end of period (seas, adj.), total
Manufacturing
Retail trade
Merchant wholesalers
813294
r
r
r
r
r
r
814195
812462
819315
839717
843 679
818459
819052
824 489
826 727
831 591
r
827 531
825413
820 671
819641
819746
822 401
824 672
825 505
828184
824150
824 609
826 204
828 630
r
828 032
833 372
391 038
252919
138,119
388 774
251 459
137,315
387 900
250 520
137,380
389 552
251 319
138,233
388 555
249 738
138817
388 279
249 202
139,077
386 043
246 966
139,077
384434
245754
138680
383 255
244 395
138,860
383239
243 787
139,452
382 206
242512
139694
r
383 286
242 447
r
140,839
382 881
241 570
141,311
235 163 235 650
114 297 114,364
120 866 121 286
236 523
115,121
121 402
238 842
116582
122260
240 746
117293
123453
240 879
116873
124006
243162
117454
125708
240 986
115918
125068
241 938
117259
124679
244 288
119827
124461
247 992
122884
125108
r
249 432
123,810
125622
194 470 195217
128 404 128903
66,314
65,976
195323
129013
66,310
194007
127492
66,515
195371
127 192
68,179
196347
128 126
68,221
198979
130566
68,413
198730
129517
69,213
199416
129834
69,582
198677
129059
69,618
198432
129203
69,229
r
6808
3262
6807
3247
679.6
3237
1862
1683
1867
1692
1865
1694
r
r
247 349
122 694
124 655
r
r
r
197 397
129 402
'67,995
201 059
132106
68,953
BUSINESS INVENTORY-SALES RATIOS
Manufacturing and trade total
1 53
1 52
1 53
1 53
1 52
1 53
1 56
1 53
1 52
1 51
1 51
1 52
1 50
Manufacturing total
Durable goods industries
Materials and supplies
Work in process
Finished goods
1 66
1 64
1 63
1 63
1 61
1 61
1 66
1 65
213
58
209
57
2.07
211
58
52
53
207
57
98
52
1 55
1 92
1 00
203
56
97
51
1 59
1 98
53
203
56
97
51
1 58
1 96
1 02
206
56
98
51
1 59
1 97
57
.99
51
1£1
200
55
95
50
54
93
50
54
92
50
55
93
51
53
89
49
1 19
1 17
1 18
1 18
1 18
1 18
1 20
1 21
1 20
1 19
1 18
1 18
1 17
.44
19
56
.44
19
54
.44
19
.55
.44
19
55
.44
19
55
.44
19
55
.45
19
56
45
19
57
44
19
56
.44
19
56
44
19
55
.44
19:
56'
.43
19
54
Nondurable goods industries
Materials and supplies
Work in process
Finished goods
Retail trade, total
Durable goods stores
Nondurable goods stores . ..
Merchant wholesalers total
Durable goods establishments
Nondurable goods establishments
Manufacturing and trade in constant (1982) dollars,
total
Manufacturing
Retail trade
Merchant wholesalers
1 01
1.52
1.52
1.54
1.55
1.56
1.56
1 58
1 53
1 51
1 55
1 57
r
208
209
213
211
212
214
212
204
202
210
214
r
213
216
1 21
1 21
1 22
1 23
1 25
1 25
1 27
1 24
1 22
1 24
1 24
1 23
1 24
1 34
1 33
1 34
1 36
1 36
1 35
1 35
1.79
1.85
1.82
1.81
1.77
1.79
1 36
'1.81
1 35
1.77
1.35
1.81
1 37
1.81
1.34
1.82
1 33
1.83
92
92
88
87
89
1.44
1.42
1.43
1 46
1 50
1 45
1 50
1 44
1.32
1.30
90
91
92
92
93
93
94
93
1 .55
1.57
1.78
1.51
1.32
MANUFACTURERS' SHIPMENTS, INVENTORIES,
AND ORDERS t
[Millions of dollars]
2 873 502
2 821 699
249 871
216452
238 300
254174
250716
241 483
226 829
210835
233 875
250588
240550
r
243,922
264,004
Durable goods industries total
Stone, clay, and glass products
Primary metals
Blast furnaces steel mills
Fabricated metal products
Industrial machinery and equipment
Electronic and other electrical equipment
Transportation equipment
Motor vehicles and parts
Instruments and related products
1 468644
63,468
146052
62121
163053
256 344
194,849
367,927
214964
123,777
1 422 578
57,103
129969
54,876
156877
242,835
199.544
363,218
206,379
123,945
129250
5,239
11 098
4,706
13932
23,684
17,842
32,848
18,415
11,132
105131
4,822
10003
4,221
11 848
17,445
14,785
24,935
13,307
9,420
119037
5,198
1 1 ,030
4,658
13305
18,611
16,562
30,615
17,903
10,334
130 137
5,292
11 429
4,829
13937
22,032
18,551
34,372
19,588
10,981
127915
5,220
11 516
4,909
14392
20,151
17,038
35,419
22,117
10,500
122547
4,798
10685
4,506
13421
19,579
17,751
32,960
19,201
10,751
115517
4,012
9,548
4,117
12 118
21,713
17,666
28,237
13,583
11,118
1 04 302
4,136
10361
4,600
11 602
16,941
14,694
25,928
15,964
9,035
120 146
4,496
1 1 ,060
4,730
13068
19,325
16,601
32,721
19,626
9,885
131 400
4,949
11,290
4,885
13666
23,580
18,158
34,928
20,375
1 1 ,002
123510
5,222
1 1 ,372
4,830
13233
20J16
16,508
33,610
20,735
9,962
r
124 991
r
5,322
1 1 ,438
r
4,802
r
13 506
r
20,094
'16,887
r
34,335
r
22,227
'10,036
137629
5,829
1 1 ,786
4,978
14354
25,247
18,659
35,702
21,126
11,318
Nondurable goods industries total
Food and kindred products
Tobacco products
Textile mill products
1 404 858
384 009
29923
65951
1 399 121
387 050
32,273
67,756
120621
33504
3,314
111 321
30,917
1,969
5,043
119263
32,453
2,635
6,198
124037
34,117
3,197
6,491
122801
33623
2,590
111 312
31,791
3,025
5,332
106533
29318
1,734
5,131
113729
31,778
2,013
5,759
119188
33,158
3,241
6,264
117040
32,300
1,849
5,917
r
6514
118936
32749
3,682
6,116
118 931
33,567
r
2,484
r
6,002
126375
33,693
4,309
6,672
131,444
288184
172,589
101 398
124,367
289 039
160,391
103,602
10,859
24860
13,538
9,258
10,171
22702
13,177
8,424
10,583
24005
13,831
8,963
10,720
25158
13,873
9,318
10,635
24156
13,959
9,413
10,114
23035
13!690
8,358
9,948
22598
12,425
7,745
10,023
23298
1 1 ,037
8,285
10,437
24040
11,259
8,945
10,615
25282
11,690
9,288
10,280
25426
12,831
9,195
234 907
237616
237,844
238 836
240912
240 980
232,730
233 247
237,898
240,684
241,749
118904
4796
10588
13,009
20,643
16,576
30439
17162
10356
120222
5,056
10806
4562
13,019
20,064
16,644
31561
18,636
10,344
121,021
4,871
10,865
4,657
13,328
19,986
16,619
31,948
18,555
10,638
121,958
4,889
11 030
4,764
13,241
20,120
16,916
32724
18,836
10,343
122771
4,801
10948
4699
13,572
20,327
16,881
33222
19405
10,451
122814
4,771
10845
4,609
13,624
20,463
17,210
32495
18679
10,569
116869
4,684
10620
4,573
13,084
19,731
17,201
28778
16,716
10,255
118698
4,785
10857
4698
13,043
20,194
16,531
30003
17309
10,130
121,991
4,850
11 066
4,764
13,077
20,055
16,811
32,604
18,812
10,276
123,503
4,952
10948
4,689
12,957
20,871
17,249
32,617
19,128
10,331
116003
32215
2,712
5669
10,404
23813
13651
8.508
117,394
32,216
2,798
5,893
10,509
24162
13,183
8.876
116,823
32,343
2,711
5,874
10,398
24040
13,153
8,841
116,878
32,355
2,806
5,914
10,473
24168
12,768
8.946
118,141
32,539
2,721
5,987
10,431
24381
13,135
9.000
118,166
32,760
3,190
5,901
10,311
23842
13,266
8,812
115,861
32,369
2,504
5,812
10,367
23725
12,474
8,666
114,549
31 ,648
2,689
5,917
10,293
23989
11,576
8,948
115,907
32,219
2,576
5.917
10,373
23993
12,382
8,963
117,181
32,392
2,720
6,036
10,407
24047
12,749
9,038
Shipments (not seas adj ) total
Paper and allied products
Chemicals and allied products
Petroleum and coal products
Rubber and plastics products
Shipments (seas adj ) total
By industry group:
Durable goods industries total #
Stone clay and glass products
Primary metals
Blast furnaces steel mills
Fabricated metal products
Industrial machinery and equipment
Electronic and other electrical equipment ...
Transportation equipment
Motor vehicles and parts
Instruments and related products
Nondurable goods industries total #
Food and kindred products
Tobacco products
Textile mill products
Paper and allied products
Chemicals and allied products
Petroleum and coal products
Rubber and olastics oroducts
See footnotes at end of tables.
6198
4461
S-3
1992
r
r
10,227
25185
13,546
r
9,060
10,998
26525
14,509
9,548
r
24 1,479
247,318
123,483
5,094
11 112
4,713
13,136
20,616
17,184
32488
19,472
10,461
r
122,344
'5,184
r
1 1 ,223
4,665
r
13,044
r
20,622
'17.157
r
31 .880
r
19,775
10,106
126,069
5,295
1 1 ,278
4,732
13,359
21.716
17,361
32,947
19,630
10,518
118.266
33,186
2,111
6,043
10,387
24502
13,213
8,978
-119.135
r
32,940
'2,165
'6,033
'10.386
'24958
'13,640
'8,790
121,249
32,456
3,469
6.094
10.515
25328
14,529
8,811
r
r
July
SURVEY OF CURRENT BUSINESS
S-4 • August 1992
Unless otherwise stated in footnotes below, data
through 1991 and methodological notes are as
shown in BUSINESS STATISTICS, 1953-91
Annual
1992
1991
1991
1990
June
July
I
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
|
Mar.
Apr.
May
June
1. GENERAL BUSINESS INDICATORS-Continued
MANUFACTURERS' SHIPMENTS, INVENTORIES,
AND ORDERS-Continued T
[Millions of dollars]
Shipments (seas, adj.)—Continued
By market category:
Home goods and apparel
Consumer staples
Machinery and equipment
Automotive equipment
Construction materials and supplies
Other materials, supplies, and intermediate
products
Supplementary series:
Household durables
Capital goods industries
Nondefense
Defense
;
173 073 1 181 320
/ 646 854
/ 648 872
462 558
' 457 838
1
' 103 971
110 302
1
' 178,379
169,1 89
Nondurable goods industries total #
Food and kindred products
Tobacco products
Textile mill products
Paper and allied products
Chemicals and allied products
Petroleum and coal products
Rubber and plastics products
By stage of fabrication:
Materials and supplies
Work in process
Finished goods
By market category:
Home goods and apparel
Consumer staples
Machinery and equipment
Automotive equipment
Construction materials and supplies
Other materials, supplies, and intermediate
products
Supplementary series:
Household durables
Capital goods industries
Nondefense
Defense
Nonferrous and other primary metals
Industrial machinery and equipment
Transportation equipment
Aircraft missiles and parts
Nondurable qoods industries total
Industries with unfilled orders t
Industries without unfilled orders 0
By market category:
Home goods and apparel
Consumer staples
Machinery and equipment
Automotive equipment
Construction materials and supplies
Other materials, supplies, and intermediate
products
Supplementary series:
Household durables
Capital goods industries
Nondefense
Defense
See footnotes at end of tables.
9261
9351
14,418
928 029
77411
78 356
1
468 590
1
363,71 8
1 104 872
' 80 036
'467572
' 365,708
1 1 01 864
392,493
254508
137,985
379,926
241 915
138,011
1
1
Book value (non-LIFO basis), (seasonally adjusted) total
By industry group:
Durable goods industries total #
Stone clay and glass products
Primary metals
Blast furnaces, steel mills
Fabricated metal products
Industrial machinery and equipment
Electronic and other electrical equipment
Transportation equipment
Motor vehicles and parts
Instruments and related products
By stage of fabrication:
Materials and supplies
Work in process
Finished goods
By industry group:
Durable goods industries total
Primary metals
15513
54 152
38425
'962115
Inventories, end of year or month:
Book value (non-LIFO basis), (unadjusted), total
Durable goods industries total
Nondurable goods industries, total
New orders net (unadj ) total
Durable goods industries total
Nondurable goods industries total
14782
54 088
38646
8557
14,051
1
15351
53945
38486
15925
53275
39015
9,424
14,875
16275
53811
39934
9526
15,073
16314
54288
39299
9723
15.226
r
14,390
15946
52913
37841
8659
14,489
16497
54 600
38 751
r
9,808
"15,249
16466
56250
41 041
9,752
15,395
78,133
76,064
77,041
78,223
78,842
79,566
r
79,41 5
80,949
7107
6851
38417
30,168
8249
6,854
39668
30,930
8738
7030
40244
31 ,950
8294
7094
39282
30,896
8386
r
40216
31,643
8573
6725
37692
29,422
8270
7.010
40990
32,964
8026
388,727
249 622
139,105
387,971
248 831
139,140
379,926
241 915
138,011
383,927
244 639
139,288
385,716
245 863
139,853
383,614
244 207
139,407
15813
54449
39835
14,290
15518
53965
39199
9504
14,416
15726
53645
37078
14,441
16085
55051
39925
9429
14,594
78,439
78,267
78,367
78,786
6424
39627
31 ,221
8406
6792
38430
30,248
8 182
6837
39534
30,569
8965
6907
39828
30,927
6943
40170
31,509
8901
8661
389,428
252 431
136,997
389,375
252 345
137,030
389,161
251 675
137,486
387,889
250 126
137,763
9691
8615
r
r
7,018
r
38 443
"30,603
"7840
384,499 "385,623
244122 "244562
140,377 "141,061
381,120
240 839
140,281
398 851
386 043
391 038
388774
387 900
389,552
388,555
388,279
386,043
384,434
383,255
383,239
382,206
"383,286
382,881
259 746
8 162
22195
10,961
24551
49,118
32544
76,931
13070
25,643
246 966
8006
20187
9,995
22693
46,406
30852
74,469
12806
24,636
252919
251 459
8081
8019
21 060
10,403
23089
48,211
31 737
75,004
12417
24,974
251 319
7948
20771
10,260
22,954
47,798
31 372
75,992
12799
24,916
249 738
7902
20619
10,132
22,937
47,634
31 172
75,177
12839
24,812
249 202
8000
20427
10.049
22,998
47,205
31 070
75,404
13022
24,562
246 966
8006
20187
9,995
22,693
46,406
30852
74,469
12806
24,636
245 754
7948
19875
9,853
22,939
46,110
31 002
73,673
12366
24,362
244,395
7966
19751
9,870
22,791
45,613
31 ,006
73,263
12297
24,166
243 787
21 314
10,480
23391
48,242
31 716
75,624
12600
25,059
250 520
8038
20894
10,309
23041
47,981
31 469
74,831
12637
24,935
242,512 "242,447
"7924
7903
19864
"19835
9,737
"9,748
"22,982
22,750
"45,057
45,122
"30,871
30,919
71 ,892
"71,531
"12284
12336
"23,874
23,890
241,570
7972
19,854
9,829
23,002
44,875
30,999
70,477
12322
23.884
72,697
122,564
64,485
67,645
117,575
61 ,746
69,305
121,110
62,504
68,769
120,484
62,206
68,816
119,452
62,252
68,773
120,114
62,432
68,562
118,868
62,308
68,264
118,751
62,187
67,645
117,575
61,746
67,566
116,593
61,595
67,002
115,848
61 ,545
66,542
115,330
61,915
66,535
114,004
61 ,973
"66.735
"113,727
"61,985
67.237
112,365
61 ,968
139105
28,857
5,946
8822
13,448
33,405
13,236
11 800
139077
30,038
6,408
8623
13,532
34,082
11,286
11 120
138119
29,408
6,332
8527
13,422
33,587
12,056
11 445
137315
29,008
6,554
8544
13,353
33,407
11,887
11 321
137380
29,096
6,493
8555
13,177
33,591
11,943
11 263
138233
29,716
6.424
8687
13.249
33,650
12,039
11 150
138817
30,012
6,433
8708
13,426
33,747
11,660
11 164
139077
30,032
6,236
8588
13,508
34,050
11,722
11 182
139077
30,038
6,408
8623
13,532
34,082
11,286
11 120
138680
29,857
6,472
8,721
13,630
33,750
10,887
11 123
138,860
29,951
6,519
8,752
13,599
34,003
10,826
10980
139452
30,260
6,499
8750
13,634
33,924
"11,118
10891
139694 "140839
29,849
"30,309
"6,843
6,630
"8,849
8763
13,738
"13,759
33,997
"34,033
1 1 ,206
"11,473
10910
"10957
141,311
30,516
6,461
8,991
13,795
34,125
11,828
11 029
51 603
22,434
65068
51 890
22,002
65 185
51 557
22,020
64542
51 711
21,864
63740
51 416
21,940
64024
51 508
22,383
64342
51 811
22,449
64557
51 440
22,101
65536
51 890
22,002
65185
51 608
22,218
64854
51 555
22,352
64953
51 750
22,374
65328
51 880
22,578
65236
"52060
"22,611
"66168
52547
22,771
65993
26916
56,675
91,328
6853
23529
27067
57,711
89,997
6624
22392
25746
57,207
91 ,007
6406
22853
25610
56,921
90,840
6356
22786
25736
57,052
90,852
22736
26290
57,663
90,936
6,531
22675
26505
57,859
90,465
6,553
22536
26,743
57,788
90,413
6,649
22591
27067
57,71 1
89,997
6,624
22392
27545
57,190
89,853
6,535
22324
27,725
57,482
88,880
6,456
22453
27933
57,918
88,071
6,499
22613
28168
57,963
87,593
6,403
22730
"28,510
"58,697
"87,404
"6,347
"22919
28,834
58,642
87,356
6,349
23,076
132718
126 107
129505
128 375
127746
127733
127404
127285
126107
125,404
125159
125105
124832
"125,298
125,495
13277
127,422
87194
40,228
12714
121,587
85357
36,230
12450
125,398
86,877
38,521
12293
124,933
86,834
38,099
12308
124,135
86,795
37,340
12523
124,730
86,628
38,102
12512
123,500
85,988
37,512
12654
122,951
85,880
37,071
12714
121,587
85,357
36,230
12876
120,910
85,239
35,671
12834
119,706
84,297
35,409
12848
119,029
83,535
35,494
12857
117.709
83,020
34,689
"12,946
"117,415
"82,701
"34,714
13,077
116,050
82,359
33,691
224195
237 368
117602
112602
1 1 1 ,593 119,766
249,046
124711
124,335
246,333
124100
122,233
238,726
120173
118.553
224,698
113420
111,278
213,117
106,539
106,578
230,845
116923
113,922
249,552
129515
120,037
239,643 "240,441
122,551 "121,808
117,092 "118,633
258,696
132,636
126,060
1
241 984
2 885 005 '2805293
1 1 479 884 ' 1 404 750 121 822
1
1 400 543 120162
'1 405121
1
6441
7919
19896
9,858
22,717
45,324
30977
73,028
12387
23,999
1
2 885 005
229219
244 580
239 750
233 703
238542
238679
229 925
232 467
233 388
237 606
240 771
"238696
244 205
1
1 479 884 ' 1 404 750 113478
1
;
10,849
146,569
127,631
/53713
4633
/ 62 620
1
5,284
' 63,264
71, 357
1
1 1 61 289
155 748
12689
1
19,541
238,988
' 255,709
1
1 1 94 958
198 231
14989
' 357473
28220
' 383 142
1
9308
126 216
' 140 080
127,153
11,598
5289
5,359
12933
20,139
17005
36,193
15936
122,630
11,489
5237
5,328
13345
19,844
16014
33,352
11 748
116,528
10,946
4709
5,381
13 104
20,649
16496
27,500
6564
120,227
10,699
113,921
10,143
3935
5,239
13009
19,195
17571
27,628
9290
118,011
10,125
4056
5,138
13266
20,447
16824
28,767
9420
117,750
11,216
5,081
13369
19,660
16817
31 £43
10246
120,343
10,712
4276
5,572
13426
19,771
17070
32,415
12228
120,187
10,632
4636
5,014
12732
20,623
16738
31,191
10322
122,393 "119,808
"11,117
11,061
4706
"4648
"5,382
5,410
12594
"12645
20,141
"20,078
"17081
17170
32,984
"30,810
"8,886
10,535
123,091
1 1 ,424
4802
5,582
13123
21 .372
17467
31,429
9,837
115741
27,699
88,042
117427
28,765
88,662
117120
28,727
88,393
117175
28,765
88,410
118315
28,914
89,401
118336
28,734
89,602
116004
28,477
87,527
114,456
27,769
86,687
115638
27,755
87,883
117,419
28,575
88,844
118,378
28,495
89,883
"118,888
"28,225
"90,663
121,114
28,422
92,692
15,665
53,931
36,999
9387
14,324
15,839
53,956
37,639
9,733
14,450
16,006
54,505
38,560
9,672
14,392
16,185
54,988
41,266
9,384
14,344
16,003
53,581
34,716
8,556
14,416
15,720
52,957
37,497
8,670
14,613
15,762
53,264
37,772
9,438
14,790
15,862
53,795
39,828
9,487
14,991
16,477
54,294
38,249
9,775
15,313
"16,347
"54,593
"39,213
"9,822
"15,209
16,457
56,259
39,422
9,739
15,356
2 805 293
'1 405 121 1 1 400 543
1
341 ,602
' 350,008
1
1
1,058,941
1,055,1 13
4712
4751
5,601
13043
19,973
16571
29,100
8102
' 173 396
1
646,681
'485,646
1
109 981
'178,313
;
182 049
648,860
' 448,541
' 104 138
7
169,809
14,830
54,205
34,404
14,157
15,461
54,193
41,571
9258
15,031
1
'926,755
76,234
81 ,060
79,288
77,954
77,485
78,193
75,066
76,831
77,830
77,812
79,674
"78,174
80,108
6441
6855
43,807
34.981
8,826
7022
40,423
29,463
10,960
7,030
33,821
28,762
5.059
7,082
37,914
29.453
8,461
7,111
38,012
33.066
4,946
6,937
35,394
26.969
8,425
6,643
38,168
30,093
8,075
6,826
35,589
29.463
6.126
6,714
38,893
32,163
6,730
7,269
38,002
29.901
8.101
"6,905
"36,323
"30.469
"5.854
6,956
38,163
31,160
7,003
959,71 9
' 77 847
7
481 626
1
386,723
1
94,903
1
1
80 283
1
452 000
1
358,342
1
93,658
8521
35,484
27,559
7,925
July
SURVEY OF CURRENT BUSINESS
Unless otherwise stated in footnotes below, data
through 1991 and methodological notes are as shown
in BUSINESS STATISTICS, 1963-91
Annual
July
| Aug.
•
S-5
1992
1991
June
| 1991
1990
August 1992
Sept.
| Nov.
Oct.
Dec.
Jan.
Feb.
Mar.
Apr.
500,481
476 853
23,628
499,574 r496,093
475 894 r 472 711
23,680 '23,382
May
June
July
1. GENERAL BUSINESS INDICATORS-Continued
MANUFACTURERS' SHIPMENTS, INVENTORIES,
AND ORDERS-Continued ft
[Millions of dollars]
Unfilled orders, end of period (unadjusted), total
Durable goods industries, total
Nondurable goods industries with unfilled orders ? .
Unfilled orders, end of period (seasonally adjusted)
total
By industry group:
Durable goods industries total #
Primary metals
Blast furnaces, steel mills
Nonferrous and other primary metals
Fabricated metal products
Industrial machinery and equipment
Electronic and other electrical equipment
Transportation equipment
Aircraft, missiles and parts
Nondurable goods industries with unfilled orders t
By market category:
Home goods and apparel
Consumer staples
Machinery and equipment
Automotive equipment
Construction materials and supplies
Other materials, supplies, and intermediate products
Supplementary series:
Household durables
Capital goods industries
Nondefense
Defense
518,671
497,552
21,119
502,265
479,724
22,541
509,853
487,400
22,453
517,596
494,871
22,725
516,664
493,436
23,228
511,536
488,010
23,526
507,153
484 195
22,958
504,396
481 ,821
22,575
502,265
479 724
22,541
504,547
481 961
22,586
501,517
478 738
22,779
521,811
505 631
509 370
516334
518240
513107
510737
508 436
505 631
504 851
500341
497 263
496 285
499 828
24,176
9,918
10,974
25603
57185
43,612
275 248
238 202
482 208
21 ,784
8,738
10,072
24469
53398
42,307
269 367
234 666
487 061
21,311
8,444
9,908
25151
54831
42,805
271 364
234910
493 992
22,103
9,171
9,953
25065
54906
43,166
275 996
240 133
495 601
22,727
9,751
9,968
25,082
54764
42,561
277 400
240 739
490171
22,643
9,696
10,006
24945
55293
42,141
272176
235 798
487 627
22394
9709
9,773
24742
54626
42077
270 597
234578
485 156
22261
9,376
10,031
24544
53934
41,937
270517
235 285
482 208
21 784
8738
10,072
24469
53398
42307
269 367
234 666
481 521
21 052
8096
10,011
24692
53651
42600
268131
233 529
477 280
21 202
8083
10,307
24658
53569
42360
264 627
230162
473 964
20886
8030
10,056
24433
53321
41 849
263 201
229 522
472 874 r 470 338 467 360
20875
20835 "20729
r
8023
8006
8076
r
10,047
9,873
9,932
r
23891
23 492 23256
52846 r 52302
51 958
41 835 41 759 41 865
263 697 "262 627 261 109
229 303 "228277 227 059
21,983
23,423
22,309
22,342
22,639
22,936
23110
23,280
23423
23330
23061
23299
9150
1,257
223822
1,519
13375
10076
1,244
214466
1 689
14004
8923
1,297
216662
1 550
13597
8871
1 ,338
219808
1,547
14210
9185
1,324
218 321
1,582
14244
9506
1,315
216762
1 811
14277
9699
1 372
215486
1 793
14229
9799
1 308
216827
1 748
13978
10076
9850
1 244
1 288
214466 214 121
1 689
1 701
14004 •* U128
9687
1 276
212879
1 715
14043
9274
1 260
212 773
1 676
13961
9437
"9286
9277
1 266 "1 259
1 267
211 722 "212185 210565
1 727
"1 741
1 728
14048 "14007
13968
124677
123368
122376
124998
126021
125608
124305
124367
123368
123158
122765
121 734
121 843 "120604
119765
5261
393 439
242 409
151 030
5691
377 920
235 027
142893
4965
384419
236 651
147 768
5028
389 796
241 384
148412
5213
390685
240 278
150407
5336
384 678
238113
146565
5475
382 422
236 057
146365
5479
380218
237 480
142738
5691
377 920
235 027
142893
5483
377 671
234 952
142719
5455
373 592
233 485
140107
5 139
372 241
233 698
138543
5314
"5201
370 961 "368841
232 703 "232569
138258 "136272
5147
366014
230 765
135249
643,022
628 567
51 654
52071
52,949
52,843
51 ,838
53,222
47,840
52,284
54000
53892
46,419
54,165
52951
52898
59940
57469
52917
55065
62254
57377
60,432
16,063
8072
5090
12,826
4376
64,044.1
67673
29052
6 829.7
77160
24148
750
87,113
22,644
11 783
6915
16,953
6075
87,750.6
47 421 7
38936
11 1033
69843
39100
6,887
1,734
918
510
1,320
468
4,930.5
4342
1704
2865
3350
1078
7,627
1,923
1 052
595
1,422
507
4,734.1
1 2278
350.5
525.2
2595
3596
7,422
2,021
974
628
1,424
527
3,202.0
6328
393.9
346.7
281 6
3080
6,833
8,485
1,747
2,255
879
1 137
542
669
1,652
1,389
522
632
5,963.0 10,126.2
5865
8683
2004
1991
404.7 12522
8855
3706
3127
1789
7,167
1,867
1 044
562
1,357
552
5,260.1
1 1488
229.2
297.0
2277
7771
6,546
1,707
864
545
1,282
436
6,659.9
23729
2809
331.5
6870
5450
8,550
2,215
1 108
729
1,723
685
8,445.7
26607
219.0
620.9
1 5908
5528
8,059
2,201
1 043
654
1,628
613
6,839.2
1 3836
1698
534.1
24446
2305
9,102
2,507
1 179
728
1,832
617
6,325.7
1 0261
385.6
669.6
5155
2629
23411
r
490,785
467718
23,067
493 502 490 389
"23164
23029
BUSINESS INCORPORATIONS @
[Number]
New incorporations (50 States and DC):
Unadjusted
Seasonally adjusted
INDUSTRIAL AND COMMERCIAL FAILURES @
[For failures, number; for liabilities, millions of dollars]
Failures, total
Commercial service
Construction
Manufacturing and mining
Retail trade
Wholesale trade
Liabilities (current), total
Commercial service
Construction
Manufacturing and mining
Retail trade
Wholesale trade
Failure annual rate number per 1 0 000 concerns
7,741
8,437
8,643
2,257
2,473
2,196
1 157
1 057
1 110
648
626
570
1,683
1,430
1,635
491
567
565
7,881.2 12,020.2 13,932.0
6296 25517 1 0576
2,756.9
197.9
190.3
180.4
1,938.3
520.9
7996
6359
483.3
1254
95.2 4,499.7
2. COMMODITY PRICES
PRICES RECEIVED AND PAID BY FARMERS t
[1910-14=WO]
Prices received all farm products
Crops #
Commercial vegetables
Cotton
Feed grains and hay
Food grains
Fruit
Tobacco
Livestock and products #
Dairy products
Meat animals
Poultry and eggs
Prices paid:
Production items
All commodities and services, interest, taxes, and
waoe rates (parity index)
Parity ratio §
681
548
666
696
678
667
672
651
636
626
630
649
653
644
643
"640
628
707
548
388
338
694
561
677
553
371
316
992
613
763
570
365
298
582
610
560
357
291
576
562
565
368
304
593
580
547
367
324
544
579
529
363
351
1,266
1,448
1,434
1,552
1,007
1,548
532
682
436
377
400
766
552
826
419
388
424
778
565
972
421
389
417
754
546
729
439
391
408
780
533
613
441
393
407
753
"528
"600
"480
"390
"382
"718
503
639
473
367
360
563
1,559
1,282
1,422
521
565
469
368
390
771
1,483
1 347
1,618
538
764
514
365
370
802
1,582
1,570
1,530
1,521
1,700
1,409
1,409
820
837
776
747
782
697
779
722
762
752
1,086
1,061
1,015
286
284
750
789
997
254
745
764
998
254
"1,000
272
732
826
941
263
1,011
282
735
844
935
271
1,002
298
737
844
940
270
758
789
1,047
762
826
997
274
747
764
1,088
754
783
991
280
253
257
259
1,409
"757
807
1,409
759
820
994
267
988
1 003
999
998
993
"1,005
1,010
1 265
1 299
1 298
1 298
1,303
"1,314
1,321
54
51
53
48
49
48
129.0
134.3
134.1
134.3
134.6
130.7
136.2
136.0
136.2
136.6
128.2
130.3
128.8
133.5
136.1
133.8
133.3
135.7
133.6
133.3
136.1
133.8
133.7
136.7
134.2
134.5
137.4
134.8
52
51
48
50
49
135.2
135.4
135.8
1*35.9
136.0
136.4
137.0
137.3
137.6
138.1
138.4
137.2
137.4
137.8
137.9
138.1
138.6
139.3
139.5
139.7
140.2
140.5
134.6
137.7
134.9
135.0
138.0
135.2
135.0
138.1
135.3
135.1
138.3
135.5
135.5
138.8
135.9
136.2
139.5
136.5
136.6
139.7
136.7
136.9
140.1
136.9
137.2
140.7
137.4
137.3
141.1
137.6
52
CONSUMER PRICES
[1982-84=100]
Not seasonally adjusted:
All items, wage earners and clerical workers (CPIW)
All items all urban consumers (CPI-U)
Special group indexes:
All items less shelter
All items less food
All items less medical care
See footnotes at end of tables.
SURVEY OF CURRENT BUSINESS
S-6 • August 1992
Unless otherwise stated in footnotes below, data
through 1991 and methodological notes are as shown
in BUSINESS STATISTICS, 1963-91
1992
1991
Annual
| 1991
1990
June
| July
| Dec.
Nov.
| Aug. | Sept. | Oct.
Jan.
Feb.
Apr.
Mar.
May
July
| June
2. COMMODITY PRICES-Continued
CONSUMER PRICES-Continued
[1982-84=100, unless otherwise indicated]
Not seasonally adjusted-Continued
All items (CPI-U)—Continued
Commodities
Nondurables
Nondurables less food
Durables
Commodities less food
Services
Food* .
Food at home
Housing
Shelter #
Rent, residential
Homeowners' cost, Dec. 1982=100
Fuel and other utilities #
Fuel oil and other household fuel commodities
Gas (piped) and electricity
Household furnishings and operation
Apparel and upkeep
Transportation
Private ,
New cars
Used cars
Public
Medical care
Seasonally adjusted
All items, percent change from previous month or
year
Commodities
Commodities less food
Food
Food at home
Apparel and upkeep
Transportation
Private
New cars
Services
1228
126.0
119.9
113.4
117.4
139.2
1266
1267
1262
1264
1271
1272
1278
1275
1272
1276
1284
1288
1291
1292
1290
130.3
124.5
116.0
121.3
146.3
130.1
124.3
115.9
121.1
147.3
136.0
134.9
130.6
124.2
117.4
121.6
149.6
137.2
136.4
131.1
124.9
117.6
122.1
150.1
137.5
136.6
138.1
137.5
132.4
126.8
118.2
123.5
150.8
138.1
137.4
132.8
128.0
118.4
124.4
150.9
137.4
136.2
134.7
147.7
144.6
152.1
135.0
148.2
145.2
153.0
135.7
149.2
145.4
153.2
136.1
149.8
145.6
153.5
136.6
150.4
146.4
154.1
136.5
150.2
146.2
154.2
136.7
150.2
146.3
154.4
132.8
128.1
118.5
124.5
151.7
137.4
136.1
137.7
151.1
146.6
155.0
132.5
127.8
118.6
124.3
152.5
137.2
135.7
138.3
151.8
147.0
155.5
1158
1164
134.5
147.3
143.7
150.7
116.2
131.5
126.7
117.0
123.0
148.3
136.2
135.0
134.7
147.9
145.0
152.6
131.1
125.5
117.2
122.4
148.8
136.7
135.5
133.4
145.8
143.0
149.7
131.0
125.9
115.9
122.1
147.9
136.0
134.9
134.7
147.4
144.6
151.6
116.8
132.1
126.2
117.9
123.0
150.7
136.3
(135.8
133.6
146.3
143.3
150.2
129.6
123.0
116.3
120.5
146.8
136.5
136.0
134.2
146.8
143.7
150.2
131.0
126.1
116.3
122.4
148.1
132.4
132.3
130.4
123.9
116.0
120.9
145.8
137.2
137.4
1157
1153
1160
1162
1159
1158
1158
1168
1190
1194
878
889
909
899
111 3
118.0
1130
1174
1176
117.9
118.2
118.4
128.5
140.0
138.4
144.6
111 6
993
1153
946
893
878
135.8
134.4
948
947
920
91 5
898
901
900
1093
1126
1144
1154
1147
1155
1129
1112
1124
1128
1120
113.3
124.1
116.0
115.9
116.3
116.2
116.4
116.4
116.5
116.3
116.7
117.3
905
111 5
117.7
128.7
126.9
125.2
127.6
131.3
132.7
132.9
129.6
127.9
130.2
133.4
133.3
133.1
131.0
129.2
1205
1238
1237
1234
1238
1238
1240
1250
1253
1245
1225
1241
1220
1244
1222
1252
1263
1269
1272
128.0
128.1
128.2
122.9
128.2
124.3
128.4
125.4
128.2
125.5
127.8
1178
1161
1507
1862
1157
1535
1873
1179
1547
1881
1205
1231
1248
151.6
145.3
1887
1894
148.3
190.7
118.8
121.0
121.9
125.3
121 9
125.3
121.7
124.9
122.0
124.4
122.1
124.1
122.4
125.0
123.4
126.6
123.4
127.6
1176
1426
1628
1181
1489
1770
1188
1466
1762
1204
1467
1775
1200
1198
147.6
178.9
146.6
179.7
1202
1449
1807
1206
1470
1818
1201
1498
1826
'54
M2
3
1
3
4
2
4
151 5
1843
1
2
3
5
1
2
3
1
1267
1265
1268
1271
1271
1276
1276
1273
1278
1285
1286
1288
1292
1293
121.0
137.3
121.1
136.6
121.7
136.3
122.1
136.5
122.1
136.4
122.6
137.0
122.4
137.4
122.1
136.8
122.7
137.2
123.4
137.9
123.6
137.8
124.1
137.3
124.6
137.5
124.9
137.3
1372
1359
1353
1354
1352
1359
1364
1354
1360
1370
1367
1358
1359
1356
1278
1277
1292
1300
1303
1296
1300
131 9
1327
1320
131 8
1236
1242
1251
123.0
126.5
122.3
123.0
1257
124.0
122.5
126.2
122.4
1255
124.2
122.6
126.3
1244
121.9
124.2
122.5
125.9
1248
121.8
1266
1267
1272
1465
147.0
147.6
148.1
148.6
149.2
149.7
150.0
150.7
126.1
124.2
128.0
151.4
126.7
125.4
128.5
1459
131 8
125.7
123.5
127.8
151.2
1323
1234
131 1
124.5
122.9
126.3
151.8
127.3
125.8
128.6
152.2
116.1
116.3
117.1
117.8
117.8
98.9
101.0
101.5
101.3
PRODUCER PRICES §
[1982=100 unless otherwise indicated]
Not seasonally adjusted:
All commodities
By stage of processing:
Crude materials for further processing
Intermediate materials, supplies, and components
Finished goods #
Finished consumer goods
Capital equipment
By durability of product:
Durable goods
Nondurable goods
Total manufactures
Durable manufactures
Nondurable manufactures
Farm products, processed foods and feeds
Farm products
Foods and feeds processed
Industrial commodities
.
...
Chemicals and allied products
Fuels and related prod., and power
Furniture and household durables
Hides, skins, and leather products
Lumber and wood products
Machinery and equipment
Metals and metal products
Nonmetallic mineral products
Pulp paper and allied products
Rubber and plastics products
Textile products and apparel
Transportation equipment #
Motor vehicles and equipment
Seasonally adjusted:
Finished goods, percent change from previous
month or year
By stage of processing:
Crude materials for further processing
Intermediate materials, supplies, and components
.
Finished goods #
Finished consumer goods
Foods
Finished goods exc foods
Durable
Nondurable
Capital equipment
116.3
116.5
116.4
116.1
116.2
116.1
116.4
116.4
115.9
115.6
116.0
108.9
101.2
99.8
99.5
99.1
98.0
99.9
99.7
97.7
96.9
98.6
114.5
114.4
114.0
1216
114.2
121.7
120.4
126.5
114.6
121.4
120.2
126.2
114.2
122.2
120.8
127.9
114.0
122.3
120.9
127.9
113.7
121.9
120.3
128.0
113.2
121.8
120.0
128.6
113.5
122.1
120.3
128.7
113.6
r
122.2
120.4
r
128.9
113.8
122.2
120.6
128.4
114.4
123.1
121.6
129.0
115.3
123.7
122.5
128.9
115.3
123.7
122.4
129.0
122.5
111.3
118.7
122.3
115.0
115.1
103.1
121.1
116.3
124.5
123.3
111.3
119.2
123.3
115.0
115.1
101.5
121.9
116.7
124.9
123.2
111.3
119.2
123.2
115.2
114.8
101.6
121.4
123.2
110.5
118.8
123.2
114.4
114.5
100.6
121.4
123.9
110.3
119.1
123.8
114.3
116.3
105.5
121.7
116.1
125.0
"r 124.2
110.1
M19.2
M24.1
114.3
" 116.7
106.4
"121.8
115.9
r
124.4
'75.8
121.9
'139.8
r
145.7
r
123.6
M19.4
"117.3
r
144.4
"114.3
"117.7
r
130.0
"124.9
124.1
110.6
119.5
124.0
115.0
115.8
103.0
122.2
116.3
124.9
124.3
111.9
120.2
124.2
116.1
116.8
105.6
122.4
116.7
124.9
123.6
109.8
118.7
123.6
113.8
115.2
102.8
121.3
115.7
124.6
124.2
113.1
120.5
124.1
116.9
116.8
104.6
122.9
118.0
125.7
124.3
113.0
120.5
124.2
116.7
115.8
102.6
122.4
118.1
126.5
77.2
79.6
82.8
82.8
122.1
139.9
146.5
123.4
119.8
116.9
144.8
114.4
117.6
129.4
124.7
122.1
140.8
147.1
123.4
119.5
117.1
145.0
114.8
117.7
130.0
124.6
122.1
140.9
145.8
123.3
119.5
117.0
145.2
115.1
117.9
129.7
124.2
122.3
139.9
145.1
123.1
120.0
117.1
145.2
115.3
118.0
129.9
124.4
'97.3
98.4
99.8
101.1
101.1
"113.8
122.4
r
120.8
"123.1
M19.6
r
125.8
"115.6
r
128.8
114.0
122.5
121.0
122.8
119.9
125.8
116.1
128.5
114.4
123.0
121.4
122.3
120.7
125.7
117.3
129.2
115.2
123.3
121.9
122.6
121.2
125.6
118.1
129.1
115.2
123.4
121.9
122.6
121.4
125.9
118.1
129.3
.818
.717
.812
.716
.808
.713
- .808
1192
1217
118.2
•120.5
114.3
121 9
120.7
1229
1267
1265
1266
121 2
1229
1227
1227
1122
111 7
119.0
122.7
115.2
116.4
105.7
121 9
111 6
118.8
122.6
114.9
117.6
109.1
121.9
111 1
118.5
122.6
114.3
116.3
105.6
121.6
122.6
111.3
118.7
122.5
114.8
115.2
102.9
121.4
116.0
124.4
116.3
124.5
118.1
120.7
115.2
118.6
112.2
121 9
115.8
116.5
116.1
1236
82.2
1256
81.2
1250
80.3
119.1
141.7
121.2
138.9
121.2
140.0
1297
1320
1362
120.7
123.0
114.7
141 3
113.6
114.9
121 5
118.2
123.0
120.3
117.2
;
49
1430
115.2
116:3
126.4
122.1
120.4
116.0
124.5
80.1
81.3
81.4
81.3
81.2
79.1
76.3
76.8
123.1
119.7
117.3
142.7
115.0
116.2
125.6
120.6
121.2
138.3
136.9
123.0
119.6
117.2
142.3
114.8
116.3
125.7
120.5
121.2
138.1
133.3
123.0
119.5
117.1
142.2
114.7
116.5
126.0
120.6
121.2
136.6
133.4
123.0
119.5
117.2
142.3
114.6
116.6
125.2
119.2
121.4
136.3
133.2
123.0
119.3
117.4
142.6
114.7
116.7
129.1
125.8
121.4
137.1
133.4
123.1
118.9
117.2
142.8
114.6
116.8
128.9
125.4
121.5
137.6
134.6
123.2
118.7
117.1
142.7
114.7
116.9
129.0
124.9
121.8
138.6
137.6
123.3
118.2
117.2
144.1
114.7
117.4
129.8
124.8
121.8
139.0
142.9
123.5
118.9
117.1
144.2
114.3
117.6
129.7
124.6
99.3
99.3
99.1
98.4
100.5
100.4
98.3
97.3
99.0
114.2
121.4
113.8
121.2
119.8
124.0
114.1
121.5
120.2
123.4
118.3
123.8
114.9
126.9
114.3
121.8
120.4
123.3
119.0
124.3
115.3
127.1
114.0
122.1
120.8
123.3
119.6
124.4
116.1
127.3
114.0
122.2
120.9
123.1
119.8
124.6
116.2
127.5
113.9
122.1
120.7
123.0
119.5
124.7
115.8
127.7
113.2
121.9
120.2
122.5
119.0
125.4
114.9
128.3
113.7
122.2
120.6
123.7
119.2
125.2
115.2
128.4
.824
.729
.818
.728
.818
.726
.820
.725
.821
.724
.819
.722
.1
'21
1201
124.7
1178
1233
1177
114.2
123.5
114.0
1267
1268
r
97.9
117.2
125.2
i
-.1
r
.1
PURCHASING POWER OF THE DOLLAR
As measured by:
Producer prices 1982-$1 00
Consumer prices 1982-84-$1.00
See footnotes at end of tables.
839
822
820
.766
.734
.735
.822
.734
822
.732
r
.818
.718
.712
SURVEY OF CURRENT BUSINESS
Unless otherwise stated in footnotes below, data
through 1991 and methodological notes are as shown
in BUSINESS STATISTICS, 1963-91
Annual
1990
August 1992 •
1991
| 1991
July
June
Aug.
S-7
1SS2
Sept.
| Dec.
Nov.
Oct.
Jan.
Feb.
Mar.
Apr.
May
June
July
3. CONSTRUCTION AND REAL ESTATE
CONSTRUCTION PUT IN PLACE ?
[Millions of dollars]
New construction (unadjusted) total
Private total*
Residential
New housing units
Nonresidential buildings, except farm and public
utilities, total #
Industrial
Commercial
;
Public utilities:
Telecommunications
Public total #
Buildings (excl. military) #
Housing and redevelopment
Industrial
Military facilities
Highways and streets
442,066
400,956
35,634
36,863
39,109
38,124
37,490
34,250
30,303
27,540
27,339
30,723
'33,624
.'36,286
37,948
334,154
182,856
127,987
290,706
157,835
110,592
25,691
14,484
9,787
26,368
15,196
10,482
27,524
15,870
11,042
26,816
15,405
11,021
26,593
15,289
10,823
24,834
14,240
10,358
22,143
11,965
8,718
20,155
10,971
8,195
19,948
10,480
7,826
22,626
12,424
9,299
'24,577
'14,291
'10,251
'25,965
'15,589
'10,945
27,416
16,863
11,828
117,971
23,848
62,862
97,841
22,280
48,480
8,225
1,858
4,165
8,173
1,757
4,182
8,524
1,876
4,374
8,327
1,829
4,237
8,149
1,897
3,968
7,442
1,813
3,546
7,220
1,924
3,305
6,328
1,568
2,986
6,616
1,627
3,145
7,182
1,886
3,301
7,071
1,744
3,268
'7,127
'1,768
'3,286
7,312
1,741
3,400
9,565
8,816
751
740
822
730
793
798
702
632
671
781
883
806
107,912
46,208
3,498
1,433
2,665
31,155
110,249
50,475
3,496
1,823
1,837
29,918
9,943
4,311
277
164
145
3,015
10,495
4,703
308
170
123
3,218
11,584
5,025
286
196
138
3,809
11,308
4,788
313
237
223
3,444
10,897
4,536
322
133
95
3,509
9,416
4,185
310
135
149
2,456
8,160
3,937
277
135
219
1,865
7,384
3,823
285
137
170
1,395
7,390
3,946
290
146
184
1,353
8,097
4,167
297
162
212
1,478
9,047
4,375
290
145
194
2,062
'10,321
'4,709
222
'2,869
10,532
4,532
270
160
209
3,199
'266
'147
[Billions of dollars]
New construction (seasonally adjusted at annual
rates), total
Private, total # .
Residential ...
New housing units
Nonresidential buildings, except farm and public
utilities, total #
Industrial ..
Commercial
Public utilities
Telecommunications
Public, total # ...
Buildings (excl. military) #
Housing and redevelopment
Industrial ..
Military facilities
Highways and streets
.
394.3
397.0
404.8
406.0
406.1
401.2
398.7
407.1
411.8
421.5
'423.1
'423.4
4.16.9
286.3
154.9
107.7
287.7
157.0
110.0
291.8
161.5
114.4
293.6
164.2
117.1
291.7
164.7
117.5
288.3
164.5
118.0
287.4
164.1
118.3
292.5
169.5
122.0
294.8
169.8
123.3
301.1
172.7
125.9
'305.5
'178.9
'128.9
'303.1
'178.7
'128.5
303.5
180.7
130.1
96.1
21.2
49.0
95.4
21.3
48.0
94.3
21.4
47.2
93.7
20.7
46.7
91.2
21.1
44.3
87.5
21.6
41.6
87.8
22.4
85.5
21.3
41.2
87.3
21.7
41.6
90.6
23.7
42.1
9.0
40.9
8.6
8.9
8.5
8.5
8.9
8.3
9.6
9.6
9.5
107.9
109.3
113.1
112.4
114.4
112.9
111.4
1,14.6
117.0
120.4
48.5
51.4
52.4
52.0
53.7
51.2
50.9
52.3
53.0
55.4
3.3
2.0
1.7
29.7
3.7
2.0
1.5
29.5
3.4
2.3
1.7
31.3
3.8
2.8
2.7
29.4
3.9
1.6
1.1
30.1
3.7
1.6
1.8
29.6
3.3
1.6
2.6
29.6
3.4
1.6
2.0
30.2
3.5
1.8
2.2
32.7
3.6
1.9
2.5
30.9
87.3
'21.3
'40.7
10.7
'85.7
'21.0
'39.6
84.9
20.1
39.7
9.6
'117.6
'53.0
3.5
1.7
2.3
'31.4
'120.3
'55.7
'3.2
'1.8
2.7
'32.4
113.4
51.5
3.2
1.9
2.5
30.3
CONSTRUCTION CONTRACTS
[Millions of dollars, unless otherwise indicated]
Construction contracts (F.W. Dodge Division,
McGraw-Hill):
Valuation total
Index (mo. data^seas. adj.), 1987=100 §§
Public ownership
Private ownership
By type of building:
Nonresidential
Residential
Non-building construction
New construction planning (Engineering NewsRecord) §
245,396
'95
221,230
'89
20,152
'85
'21,795
'90
21,558
92
19,411
89
22,738
98
15,083
'83
16,277
'98
16,077
95
17,038
'103
20,510
98
21,746
'96
19,787
'89
23,409
'91
21,678
89
72,090
173,307
74,422
146,806
6,827
13,324
'6,910
'14,885
7,250
14,308
6,498
12,913
7,736
15,002
4,240
10,843
5,880
10,397
5,303
10,775
5,608
11,429
7,003
13,507
6,417
15,329
6,101
13,686
7,492
15,917
7,074
14,603
90,240
105,509
49,645
76,898
96,353
47,978
7,016
8,826
4,309
'7,664
'9,448
'4,682
7,454
9,764
4,339
6,218
8,941
4,252
8,337
9,984
4,417
5,103
7,427
2,552
5,819
6,670
3,788
5,635
6,891
3,551
5,649
7,258
4,130
5,952
9,673
4,885
6,833
10,018
4,895
5,893
9,481
4,413
8,042
10,729
4,638
7,073
9,874
4,731
103.4
103.5
86.6
73.7
65.6
56.3
71.6
58.4
78.8
69.2
90.9
93.5
'115.2
'100.2
'118.4
'103.0
110.5
80.9
75.6
62.6
111.6
87.4
94.7
78.7
101.8
86.8
1,036
870
1,053
881
1,053
881
1,020
864
1,085
887
1,085
907
1,118
972
1,180
989
1,257
1,109
1,340
1,068
1,086
933
'1,196
'1,019
'1,151
'1,000
1,119
959
956
759
971
782
940
764
974
782
994
788
979
792
1,073
873
1,106
913
1,146
946
1,094
907
1,058
873
1,054
879
' 1 ,032
1,070
874
15.6
14.7
17.4
15.1
16.9
13.1
10.9
13.4
13.5
16.1
17.6
17.0
9,433
213,389
HOUSING STARTS AND PERMITS
[Thousands]
New housing units started:
Unadjusted:
Total (private and public)
Privately owned
One-family structures
1,192.7
894.8
1,014.5
841.2
Seasonally adjusted at annual rates:
Total privately owned
One-family structures
New private housing units authorized by building permits (17,000 permit-issuing places):
Monthly data are seas. adj. at annual rates:
Total
One-family structures
Manufacturers' shipments of mobile homes:
Unadjusted
Seasonally adjusted at annual rates
1,111
798
955
754
188.3
.170.9
107.6 '
173
175
178
172
172
171
176
192
197
197
199
111.5
112.1
111.7
112.3
111.7
112.4
111.7
112.3
111.3
111.8
110.9
111.4
110.7
111.3
110.1
110.6
110.5
110.6
110.9
110.9
'111.2
'111.4
189
'872
95.3
18.2
194
CONSTRUCTION COST INDEXES
Bureau of the Census, 1987=100:
Composite fixed-weighted price index *
Implicit price deflator *
110.3
'111.2
111.2
111.8
Boeckh indexes, 1987=100:
Average, 20 cities:
Apartments hotels office buildings
Commercial and factory buildings
Residences
108.7
110.6
109.7
112.0
114.2
113.0
Engineering News-Record, 1967=100:
Building
Construction
400.0
440.5
407.2
450.1
404.6
448.6
108.5
107.5
111.8
112.2
114.4
113.3
408.1
451.9
112.9
115.6
114.3
413.3
455.4
412.3
455.3
412.3
455.4
413.2
455.8
412.1
455.1
Federal Highway Adm— Highway construction,
1987=100:
See footnotes at end of tables.
107.0
114.1
116.6
115.4
113.9
116.4
115.1
113.0
115.7
114.3
100.4
412.0
455.1
410.8
454.7
414.4
458.6
m?9
'111.3
' 1 1 1 .5
111.8
112.2
117.4
117.7
116.9
115.8
1171
116.1
415.9
460.5
418.6
462.2
420.0
462.9
1104
-421.1
-464.7
SURVEY OF CURRENT BUSINESS
S-8 • August 1992
Unless otherwise stated in footnotes below, data
through 1991 and methodological notes are as shown
in BUSINESS STATISTICS, 1963-91
Annual
1990
1992
1991
June
1991
July
Sept.
Aug.
Oct.
Nov.
Jan.
Dec.
Mar.
Feb.
June
May
Apr.
July
3. CONSTRUCTION AND REAL ESTATE-Continued
REAL ESTATE 0
[Thousands of units]
Mortgage applications for new home construction:
FHA applications
Seasonally adjusted annual rates
Requests for VA appraisals
Seasonally adjusted annual rates
[Millions of dollars]
Home mortgages insured or guaranteed by:
Fed. Hous. Adm.: Face amount
Vet. Adm.: Face amount §
Federal Home Loan Banks, outstanding advances to
member institutions, end of period
New mortgage loans of SAIF-insured institutions, estimated total @
By purpose of loan:
Home construction
Home purchase
All other purposes
51 ,863.74
15,787.10
152,230
16 182
127 272
2
8,776
66
102
65
98
72
97
75
98
101
101
94
99
79
86
77
83
88
101
4 072.77
1,529.80
3,696.55
341986
3 226 30
354948
3 222 96
3 559 84
3 620 34
391067
4 603 26
4 797.76
90,142
83,946
80,143
78784
79,065
75,085
75834
76,275
76,008
76409
76,860
12,739
12239
10,591
12,373
12125
15096
13599
15975
21 908
19603
1 283
10967
494
1 230
10552
456
1 027
1 077
10883
412
880
10879
365
914
13601
582
781
12421
397
826
14768
382
1 138
20230
538
1 354
17795
454
8.3
92
8.1
120
46 990 04
4 070 27
939.10
4,444.38
1,311.15
4 828 99
1,589.33
79,065
94,740
91 ,525
143 674
13,300
2
1 205
11 498
597
2
2
2
87
111
74
89
67
74
117,096
2
71
92
101
117
71
83
88
105
980
1154
2
12 261
125 594
2
5,819
9051
513
4. DOMESTIC TRADE
ADVERTISING
[Millions of dollars]
Magazine advertising (Leading National Advertisers):
Cost, total
Apparel and accessories
Automotive, incl. accessories
Building materials
Drugs and toiletries
Foods soft drinks, confectionery
Beer, wine, liquors
*
Houshold equipment supplies furnishings
Industrial materials
Soaps, cleansers, etc ....
Smoking materials
All other
Newspaper advertising expenditures (Newspaper Advertising Bureau, Inc.):
Total
Classified
National
Retail .:
32,280
11,506
4,122
16,652
10,567
3,928
15,914
1,790,448
890,261
900,187
1,741,614
846,466
895,148
142,615
69,919
72,696
147,029
71,025
76,004
148,825
72,743
76,082
145,493
72,847
72,646
158,596
78,833
79,763
142,820
69,291
73,529
142,864
68,332
74,532
140,505
66,410
74,095
134,652
65,541
69,111
152,557
75,970
76,587
148,832 '143,843
73,653 '70,058
75,179 '73,785
154,719
78,069
76,650
197,554
129,004
68,550
199,710
128,799
70,911
192,556
128,366
64,190
193,611
129,845
63,766
190,971
128,342
62,629
191,380
126,800
64,580
196,967
126,706
70,261
197,793
127,168
70,625
199,710
128,799
70,911
201,522
129,586
71,936
201 ,586
130,353
71,233
200,370
129,789
70,581
199,736 '196,558
130,757 '1 30,578
68,979 '65,980
199,129
131,924
67,205
1,825,507
660,779
1 ,842,739
652,951
155,942
57,475
156,635
58,068
161,895
57,510
148,509
54,281
153,920
54,900
157,276
52,399
182,744
58,856
140,023
49,461
141,517
51,137
153,026
56,646
157,279 '163,840 '162,506
58,882 '60,655 '62,603
95,132
385,136
91,937
96,076
378,025
88,927
1,189,788
217,532
380,927
126,462
95,308
194,005
75,668
22,336
9,021
34,127
7,242
98,467
16,997
32,541
10,928
7,489
17,229
6,056
1,857
9,126
34,626
7,454
98,567
16,153
32,890
11,133
7,332
17,220
6,133
1,975
r
154,669 '154,797
8,884
33,516
7,586
104,385
18,583
33,432
11,403
8,904
17,881
6,300
2,014
8,301
32,086
7,062
94,228
16,187
30,600
10,406
7,496
15,861
5,947
1,733
154,330
55,223
8,592
31,991
7,328
99,020
17,780
31,478
10,685
7,789
16,362
6,309
1,797
159,753
54,722
6,629
29,374
7,010
90,562
13,658
31,112
9,545
5,987
15,380
6,312
1,668
157,808
56,919
8,069
34,527
7,325
96,380
16,901
31,174
9,758
7,397
16,581
6,384
1,741
55,450
7,268
28,151
9,798
123,888
32,919
33,428
10,300
12,599
16,239
8,204
2,325
154,280
55,406
6,802
30,847
6,924
90,380
15,005
29,993
9,128
6,359
15,535
6,238
1,704
154,569
7,599
28,994
7,852
104,877
22,376
31 ,978
10,371
8,903
15,842
6,285
1,922
154,092
57,961
157,873
57,122
7,905
5,957
1,005
32,060
8,174
6,238
965
32,422
8,497
6,390
1,050
33,163
8,757
6,563
1,053
33,938
8,692
6,479
1,062
33,058
8,722
6,467
1,052
33,280
'8,721
'6,452
'1,081
'33,404
'8,583
6,338
1,057
'33,162
29,491
2,569
7,295
3,914
2,566
29,798
2,624
7,446
4,005
2,629
30,494
2,669
7,628
4,029
2,760
31 ,245
2,693
7,660
4,096
2,724
30,373
2,685
7,677
4,074
2,754
30,635
2,645
7,609
4,073
2,712
'30,774
'2,630
'7,549
'4,101
'2,642
'30,538
'2,624
'7,684
4,215
2,661
7401
2660
933
3,819
3,081
967
4,507
WHOLESALE TRADE t
[Millions of dollars]
Merchant wholesalers sales (unadj.), total
Durable goods establishments
Nondurable goods establishments
Merchant wholesalers, inventories, book value (nonLIFO basis) end of period (unadj ) total
Durable goods establishments
.
Nondurable goods establishments
RETAIL TRADE $
[Millions of dollars]
All retail stores:
Estimated sales (unadj ) total
Durable goods stores # .
Building materials, hardware, garden supply,
and mobile home dealers
Automotive dealers ....
Furniture, home furnishings, and equipment ...
Nondurable goods stores
General merch group stores
Food stores
Gasoline service stations
Apparel and accessory stores
Eating and drinking places
Drug and proprietary stores
Liquor stores
Estimated sales (seas, adj.) total
Durable goods stores #
Bldg. materials, hardware, garden supply, and
mobile home dealers #
Building materials and supply stores
Hardware stores
Automotive dealers
Motor vehicle and miscellaneous auto dealers
Auto and home supply stores
Furniture, home furnishings, and equipment #
Furniture home furnishings stores
Household appliance, radio, and TV stores
See footnotes at end of tables.
1,164,728
212,287
371,580
130,200
94,455
186,162
69,169
21,618
r
54,962
'54,830
'8,045
'6,065
'8,160
'6,104
153,819
54,080
'31,939
'31,569
7,988
6,058
1,002
31,049
'29,169
2,770
'7,392
'3,903
'2,652
'28,841
'2,728
'7,577
3,995
'2,750
28,372
2,677
7,474
3,968
2,689
'999
'991
8,100
6,127
987
32,115
8,040
6,143
977
32,521
29,419
2,696
7,425
3,946
2,661
29,859
2,662
7,333
3,916
2,620
9,197 '10,032
35,455 '35,741
7,206
'7,319
98,397 '103,185
17,701 '18,830
31,717 '33,262
9,911 '10,791
'8,284
8,249
16,272 '17,323
6,530
'6,439
1,802
'2,015
'9,983
'37,403
'7,654
'99,903
'17,664
'32,283
'11,084
'7,899
'16,843
'6,289
1,978
158,385 '159,111 '158,653
57,442 '57,643 '57,382
1
162,733
61 ,011
1
1
9,763
36,1 79
'7,708
1
101 ,722
1
17,344
' 33,767
'11,284
1
7,788
1
17,51 7
' 6,251
1
1
159,490
' 57,583
1
1
8,647
33,1 92
' 30,51 4
'2,678
'7,786
August 1992 •
SURVEY OF CURRENT BUSINESS
Unless otherwise stated in footnotes below, data
through 1991 and methodological notes are as shown
in BUSINESS STATISTICS, 1953-91
1991
Annual
1990
1991
June
July
Aug.
Sept.
S-9
1992
Oct.
Nov.
Dec.
Jan.
Feb.
|
Mar.
| Apr.
100943 '101 468 '101 271 '101 907
1
18947 '19053
19 402
'18967
May
June
July
4. DOMESTIC TRADE-Continued
RETAIL TRADE ^-Continued
[Millions of dollars— Continued]
All retail stores—Continued
Estimated sales (seas, adj.)—Continued
r
Nondurable goods stores
General merch. group stores
Department stores excluding leased departments
Variety stores .
..
r
r
r
Food stores
Grocery stores
Gasoline service stations
r
99 707 '99,967
18 098 '18417
99,739
18355
99107
18325
99119
18252
99370
18327
98874
17820
100889
19328
101 792
19731
100751
19030
14 184
r
611
'14476
14449
14644
15606
15050
14977
587
603
14173
594
15304
607
14441
604
14447
'612
624
636
574
586
'15 180
'572
32 058
'31 858
31 685
31 805
31 818
31 835
31 956
31 823
29675
10,558
29808
10,303
29816
10264
29860
10,413
29955
10,208
32049
30064
10,165
31 920
29835
'10,493
29953
10210
29830
10229
32139
30079
10,249
'29872
'10,497
'29890
'10.637
'8108
8062
7952
7837
7869
7811
8057
8277
8137
8199
'8318
'8413
'700
714
726
701
709
689
729
736
729
717
730
741
2,847
2804
7976
r
705
'2809
'1 444
r
Eating and drinking places
Drug and proprietary stores
Liquor stores
16,331
6315
'1 851
Estimated inventories, end of period:
Book value (non-LIFO basis), (unadjusted), total
Durable goods stores*
Bldg. materials, hardware, garden supply,
and mobile home dealers
Automotive dealers
Furniture, home furnishings, and equipment
'1 489
'16,169
6342
'1 885
2782
2766
2753
2678
2726
2826
1 493
1 446
1 423
1 407
1 418
1 450
1 498
16,315
6344
15,973
6340
16297
6392
16,366
6374
16741
16736
6435
1 900
1 859
1 874
1 875
1 716
6461
1 851
16904
6525
2817
1 436
16715
6528
1 909
1 933
238,823
118,480
231,310
114,223
231,209
112,069
232,330
110,617
240,046
113,915
254,023
119284
257,915
121,693
238,823
118480
233,603
114791
237,187
117065
242,743
120382
15,521
65936
16,907
16,051
63003
17,007
16,432
59069
16,727
16,049
57023
16,625
16,034
55031
16,672
15,952
56413
17,465
15,874
59912
18534
16,000
61 839
16,051
63003
17007
16,204
60535
16500
17,144
62062
18,634
17,796
63149
17064
115685
39873
120343
42472
117087
119140
43081
121 713
126 131
47120
1 34 739
51 863
136222
52356
120343
42472
118812
42391
120 122
44,261
42847
122361
44807
30,044
25509
17,902
32,975
26341
17,678
31 755
32,696
25286
19,154
33,611
25109
20,024
35,982
25333
20,698
39968
26423
40611
26991
21 ,398
21 ,486
32975
26341
17,678
33023
25781
17,358
33486
25496
18,624
35090
25571
19,096
Book value (non-LIFO basis), (seas, adj.), total ..
Durable goods stores #
Bldg. materials, hardware, garden supply,
and mobile home dealers
Automotive dealers
Furniture, home turn., and equipment
240,217
119331
243,162
117454
235,650
114364
236,523
115121
238,842
116582
240,746
117293
240,879
116873
243,162
117454
240,986
115918
241,938
117259
,244,288
119827
16134
16668
60,454
17,196
16033
58,583
17,104
16180
59,470
16,840
16244
60189
17,123
16348
60991
17,177
16529
60555
17,190
16668
60454
17,196
16740
59605
16,958
17127
63,308
17,061
60456
16,848
17161
61 898
Nondurable goods stores #
General merch. group stores
Department stores excluding leased departments
Food stores
Apparel and accessory stores
120886
43,529
125708
46,311
122260
44,774
123453
45,206
124006
45,223
125708
46i311
125068
46,263
124679
45,287
124461
45,626
32763
25,212
19716
723 088
92788
9894
Firms with 1 1 or more stores:
Estimated sales (unadj.) total
Durable goods stores
Auto and home supply stores . .
Nondurable goods stores #
General merchandise group stores
Food stores
Grocery stores
Apparel and accessory stores
Eating places
.
Drug stores and proprietary stores
. . .
41 809
25539
18,583
'235,163
r
114 297
r
15907
58 751
17,103
r
1 454
1 930
236,192
120,507
Nondurable goods stores #
General merch. group stores .
Department stores excluding leased departments
Food stores
Apparel and accessory stores
2884
16403
6537
16241
17,341
'31 968 '31 974
'2992
'1 482
'16420
'6491
'1 993
247,356 '245,350
123472 '123570
18,372
64610
17336
34284
26026
18,908
247,992 '247,349
122884 '122694
249,432
123810
'17450
'63409
'17,716
17452
64106
17,793
125108 '124655
46,431
'46,150
125622
46,648
121 402
44,379
35920
26,009
'33532
'25,622
33847
25,575
34019
25,581
19116
19107
19 191
34829
25,917
19339
35920
26009
19317
34499
25,616
19290
34907
25736
19491
19491
35934
25832
19503
35286
25921
19604
35588
25785
19566
35951
26075
19646
'35876
'26104
'19631
749 487
60694
60338
64803
58493
62000
68774
88421
55494
55993
'60895
62947
65938
98985
10570
8265
8476
7879
12545
7303
'8460
896
848
800
7168
791
'8074
976
8130
969
8697
941
8501
979
'878
'934
9101
961
630 300
650 502
206,830
226010
222,037
59434
44819
45,898
52429
16,069
18889
18,598
4593
56302
17,608
19,608
19,308
5570
4,026
50614
15,273
60077
21,500
19256
18,928
75876
32,034
48825
14,352
17,672
4625
53870
16,840
18763
18,463
4868
56837
17.931
19664
19,330
'5215
3818
3,801
3730
3,849
5170
4180
3,819
3711
3,612
19,598
8349
3697
5,424
'54487
'16,841
'18932
'18,562
3,628
51862
15,137
19,171
18,872
4442
3,892
3,673
48191
202,541
216546
212,922
56594
44863
41,642
62367
63143
62923
62926
62715
62974
62392
65503
877
13871
385
893
900
893
891
877
943
955
'919
14297
14200
14200
15058
15375
'14783
'14812
14972
380
373
370
400
406
'366
'391
393
18,579
4933
18,538
5,040
18,512
4,953
18,661
4,955
18,574
4978
14423
38~5
18,630
5,007
13968
389
894
14215
384
'65 168
'920
18,665
4,906
18,636
18,625
'18,628
5,184
'5145
'18,826
'5,156
18,749
5,134
Estimated sales (sea adj ) total
Auto and home supply stores
Department stores excluding leased departments
Variety stores
Grocery stores
Apparel and accessory stores
Women's clothing, specialty stores, and furriers
Shoe stores
Drug stores and proprietary stores
3911
894
17951
1,726
963
1,733
974
1,683
981
1,730
945
1,722
944
3799
3858
3877
3892
3927
5814
20171
1,740
953
3912
3,812
3,814
'52821
'16,125
'18700
'18,367
'4656
'3902
'3,878
64846
65241
'64615
12,891
18908
18,599
3560
3589
18102
17,750
3843
3596
'3943
'4,034
8 484
'16219
;
6424
44212
'34728
'26075
'19,199
44,274
10,655
7
245,164
123595
121 569
120 866 121 286
1
1 980
123884 '121 780
46081
'44509
'44,071
1
32 021
' 29 959
1 504
18,028
64287
17384
17682
63805
17,600
15 301
2964
'16072
'6437
'18,288
'64279
'17415
35915
25861
19,450
1
573
29964
10,630
r
Apparel and accessory stores #
Men's and boys' clothing and furnishings
stores
Women's clothing, specialty stores, and
furriers
Shoe stores
'15041
36241
26116
19634
3,988
916
5,214
1,672
906
1,777
973
'1,792
'958
'4014
'944
1,826
971
3979
1,784
1 000
4019
'1,783
3936
'4046
4057
5. LABOR FORCE, EMPLOYMENT, AND EARNINGS
LABOR FORCE AND POPULATION
[Thousands, unless otherwise indicated]
Not seasonally adjusted:
Noninstitutional population, persons 16 years of
age and over
Labor force @
Resident Armed Forces
Civilian noninstitutional population
Civilian labor force, total
Employed
Unemployed
Seasonally adjusted:
Civilian labor force total
Participation rate, percent*
Employed total
Employment-population ratio, percent t
Agriculture
Nonagriculture
Unemployed total
Long term, 15 weeks and over
See footnotes at end of tables.
189,686
126424
191,329
126867
191,173
128559
191,443
128,931
191,589
127,713
191,746
127,029
191,903
127,182
192,057
127,001
192,209
126,712
192,358
126671
192,469
126971
192,607
127382
192,745
127,455
192,881
128,279
193,025
130,572
1637
1 564
1505
1,604
1,616
1,624
1,614
1,605
1,604
1,599
1,585
1,585
1,577
1,574
1,570
131 168
1,568
188,049
124,787
117914
6,874
189,765
125,303
116877
8,426
189,668
127,054
118280
8,774
189,839
127,327
118,751
8,576
189,973
126,097
117,859
8,237
190,122
125,405
117,335
8,070
190,289
125,568
117,555
190,452
125,396
117,110
8,286
190,605
125,108
116,549
8,559
190,759
125,072
115,122
9,949
190,884
125,386
115,224
10,161
191,022
125,797
116,106
191,168
125,878
116,933
8,945
191,307
126,705
117,535
191,455
129,002
118,907
10,095
191.622
129,600
119,754
9,845
125,524
125,204
125,590
125,508
126,046
126,287
126,830
127,160
66.4
66.0
125,004
8,013
125,374
126,590
9,169
127,549
127,532
66.2
66.0
65.8
66.1
66.0
65.8
65.9
66.1
66.2
66.3
66.3
66.5
66.6
66.6
116,909
116,729
116,484
117,089
116,867
116,772
116,728
117,117
117,043
117,348
117,675
117,656
117,574
117,772
61 6
61.6
61.5
61.3
61.6
61.4
61.3
114728
3,233
113644
3,286
113623
3,244
113,485
3,254
113,230
3,283
113,806
3,204
113,663
3,272
113,500
8,501
8,641
2,323
8,475
2,355
8,520
1,504
2,417
2,422
2,570
8,602
2,623
627
3,186
125,619
9,691
193,190
8615
2,488
61.2
3,183
61.4
3,166
113,545
113,951
3,232
113,811
8,891
8,929
3,059
9,244
3,204
2,843
61.3
61.4
3,194
114,155
9,242
3,185
61.6
3,209
114,465
9,155
3,018
61.5
3,178
114,478
9,504
3,361
61.4
61.5
3.252
114,322
3.204
114.568
9.975
3.675
9,760
3,616
SURVEY OF CURRENT BUSINESS
S-10 • August 1992
Unless otherwise stated in footnotes below, data
through 1991 and methodological notes are as shown
in BUSINESS STATISTICS, 1953-91
Annual
1991
June
1991
1990
July
1992
Sept.
Aug.
Nov.
Oct.
Dec.
Jan.
Mar.
Feb.
Apr.
June
May
July
5. LABOR FORCE, EMPLOYMENT, AND EARNINGS-Continued
LABOR FORCE-Continued
Seasonally adjusted—Continued
Civilian labor force—Continued
Unemployed—Continued
Rates +:
All civilian workers
Men 20 years and over
Women 20 years and over
Both sexes 16-19 years
White
Black
:
Hispanic origin
Married men spouse present
Married women, spouse present
Women who maintain families
Industry of last job:
Private nonagricultural wage and salary workersConstruction
Manufacturing
Durable goods
Agricultural wage and salary workers
Not seasonally adjusted:
Occupation:
Managerial and professional specialty ....
Technical, sales, and administrative support
Service occupations
Precision production, craft, and repair ....
Operators, fabricators, and laborers
Farming forestry and fishing
55
49
48
155
47
11.3
67
63
57
186
60
12.4
80
3.4
3.8
8.2
99
44
4.5
9.1
57
11 1
5.8
58
9.7
70
154
7.2
75
2.1
2.8
4.2
6.6
5.8
8.6
62
11.6
69
65
57
190
61
12.7
99
4.6
4.6
9.1
72
15.5
7.7
80
11.9
2.9
5.1
7.5
7.2
68
65
54
199
61
11.9
96
4.4
4.4
8.5
71
16.2
7.1
72
11.5
3.1
68
65
57
190
61
68
65
56
182
61
69
65
58
189
61
69
64
5.9
187
62
12.4
12.3
12.8
12.3
100
4.4
4.4
9.4
109
4.5
4.5
J.O
105
4.2
4.5
9.4
102
4.5
4.6
9.1
71
15.4
7.2
74
11.8
70
15.7
6.9
70
11.2
3.3
3.1
5.1
7.1
7.1
9.2
68
5.2
7.6
7.1
8.7
6.8
71
16.1
7.0
74
11.9
2.9
72
16.1
7.4
71
12.4
71
66
61
193
63
12.7
97
4.7
4.9
9.1
74
16.3
7.2
73
11.5
2.6
2.6
5.1
7.6
6.9
8.8
7.2
5.1
8.2
7.7
9.6
9.1
5.2
8.0
8.3
71
69
59
183
62
6.7
14.1
13.9
14.7
14.9
14.6
11 6
4.8
5.0
103
4.7
5.0
11 3
5.1
4.9
121
5.3
5.3
11 9
5.3
5.3
10.0
10.2
10.0
10.1
10.6
74
17.0
7.0
70
10.9
2.9
108,310
89930
109,157
90,674
107,926
90,504
108,029
90,805
108,751
90,638
109,094
90,438
109,106
90,292
108,966
90,212
106,607
88,184
109,782
91 478
72,361
24960
710
5,133
108,310
89930
71,475
23830
691
4,685
108,227
89834
71,414
23 809
697
4,692
108,190
89812
71,387
• 23792
693
4,674
108,267
89885
71 ,442
23791
686
4,662
108,293
89,906
71,492
23755
679
4,662
108,285
89,875
71,487
23704
674
4,642
108,139
89,715
71,354
23613
667
4,585
108,154
89,704
71,375
23584
663
4,592
19117
11 130
735
507
557
757
1,423
2,099
1,676
1 990
1,008
377
18455
10602
679
472
524
726
1,359
2,007
1,598
1 891
980
366
18420
10587
677
474
522
724
1,357
2,006
1,600
1 883
980
364
18425
10,586
678
469
522
725
1,357
1,998
1,596
1 894
979
368
18443
10,582
678
471
524
725
1,356
1,994
1,591
1,901
977
365
18414
10,557
676
470
523
722
1,354
1,989
1,586
1,896
976
365
18388
10,530
677
469
524
718
1,352
1,981
1,581
1,889
973
366
18361
10,498
678
468
520
715
1,351
1,967
1,578
1,886
969
366
18329
10,466
679
467
520
714
1,347
1,958
1,574
1,878
962
367
8.8
68
77
72
6.5
21 0
13.8
109,782
91 478
10.9
65
63
78
74
6.4
236
11 6
5.0
4.8
9.5
58
10.4
65
75
73
6.1
200
72
68
63
192
11 3
4.8
4.8
9.0
76
10.5
65
73
69
61
206
13.7
5.0
7.1
7.2
9.9
54
5.1
7.5
7.9
73
70
61
200
6.0
8.7
76
17.4
7.6
77
11.7
78
17.6
7.3
74
9.6
75
78
16.9
16.6
7.7
7.7
7.6
75
10.4
13.6
80
17.6
8.3
8.2
13.3
7.8
16.5
8.3
8.3
14.3
3.0
2.9
2.8
3.2
3.3
3.4
6.0
8.2
5.7
8.1
5.4
8.1
9.1
5.7
8.3
8.3
6.0
8.6
8.3
6.1
7.9
7.5
11.3
13.0
12.0
13.7
11.3
11.0
11.2
12.6
11.4
10.7
89
6.5
106,866
88,108
107,359
88,477
108,140
89,248
r
108,100
89,643
71,360
23527
657
4,587
108,142
89,681
71,391
23525
653
4,582
108,200
89,693
71,415
23532
651
4,603
108,377
89,835
71,556
23530
646
4,605
r
18283
10,422
680
466
517
711
1,344
1,954
1,570
1,850
963
367
18290
10,430
686
464
517
710
1,342
1,950
1,564
1,872
959
366
18278
10,417
689
465
518
710
1,342
1,948
1,560
1,863
956
366
18,279
10,409
688
467
520
708
1,341
1,949
1,557
1,859
952
368
6.3
10.7
6.5
10.7
6.7
EMPLOYMENT §
[Thousands]
Employees on nonfarm payrolls by industry:
Total, not adjusted for seas, variation
Private sector (excl government)
Seasonally adjusted:
Total employees, nonfarm payrolls
Private sector (excl government)
Nonmanufacturing industries
Goods-producing
Mining
Construction
Manufacturing
Durable goods
Lumber and wood products
Furniture and fixtures . ...
Stone, clay and glass products
Primary metal industries
Fabricated metal products
'.
Industrial machinery and equipment
Electronic and other electrical equipment
Transportation equipment
Instruments and related products
Miscellaneous manufacturing
Nondurable goods
Food and kindred products
Tobacco manufactures
Textile mill products
Apparel and other textile products
Paper and allied products
Printing and publishing
. ..
Chemicals and allied products
Petroleum and coal products
Rubber and misc. plastics products
Leather and leather products
Service-producing
Transportation and public utilities
. .
Wholesale trade
Retail trade
Finance, insurance, and real estate
Services
Government
Federal
State
Local
Production or nonsupervisory workers on private
nonfarm payrolls not seas, adjusted
Manufacturing not seas, adjusted
Production or nonsupervisory workers on private
nonfarm payrolls
Goods-producing
Mining
Construction
Manufacturing
Durable goods
Lumber and wood products
Furniture and fixtures
Stone clay and glass products
Primary metal industries
Fabricated metal products
Industrial machinery and equipment
Electronic and other electrical equipment
Transportation equipment
Instruments and related products
Miscellaneous manufacturing
See footnotes at end of tables.
7988
1,666
49
692
1,039
698
1,575
1,088
158
890
133
7852
1,672
49
672
1,010
688
1,541
1,072
159
864
125
7833
1,673
49
671
1,005
686
1,537
1,070
159
859
124
7,839
1,661
49
675
1,016
686
1,537
1,068
159
861
127
7,861
1,685
50
673
1,013
688
1,535
1,071
159
863
124
7,857
1,676
50
674
1,017
688
1,533
1,071
159
865
124
7,858
1,672
49
676
1,021
687
1,531
1,073
159
867
123
7,863
1,670
48
677
1,027
688
1,528
1,073
159
869
124
7,863
1,671
49
679
1,026
687
1,527
1,072
158
870
124
7,861
1,672
50
678
1,024
687
1,524
1,073
158
871
124
7,860
1,671
50
681
1,025
686
1,519
1,073
158
874
123
7,861
1,671
49
682
1,025
687
1,519
1,071
157
877
123
7,870
1,677
50
682
1,023
689
1,521
1,072
157
876
123
84822
5,808
6,200
19,677
6,729
28103
18,304
3,085
4,305
10,914
84480
5,772
6,069
19,259
6,678
28,323
18,380
2,966
4,346
1 1 ,067
84418
5,763
6,069
19,268
6,674
28,251
18,393
2,970
4,355
11,068
84,398
5,767
6,064
19,238
6,662
28,289
18,378
2,965
4,339
11,074
84,476
5,773
6,050
19,244
6,661
28,366
18,382
2,970
4,339
11,073
84,538
5,769
6,049
19,220
6,663
28,450
18,387
2,978
4,336
11,073
84,581
5,766
6,040
19,175
6,665
28,525
18,410
2,980
4,337
11,093
84,526
5,761
6,031
19,130
6,666
28,514
18,424
2,981
4,343
11,100
84,570
5,758
6,021
19,112
6,670
28,559
18,450
2,983
4,342
11,125
84,573
5,746
6,010
19,118
6,665
28,577
18,457
2,981
4,347
11,129
84617
5,753
6,003
19,143
6,673
28,584
18,461
2,981
4,346
11,134
84,668
5,754
5,997
19,092
6,675
28,643
18,507
2,989
4,345
11,173
84,847
5,746
5,993
19,177
6,682
28,707
18,542
2,986
4,360
11,196
74,108
12,979
72,705
12,467
73,409
12,512
73,260
12,402
73,558
12,605
73,399
12,630
73,232
12,578
73,111
12,502
73,033
12,423
71,133
12,236
71 ,067
12,242
71 ,437
12,263
74108
17,472
509
3984
12,979
7,379
605
401
433
575
1 048
1,263
1,056
1,225
500
274
72,705
16,533
491
3575
12,467
6,988
556
371
405
547
994
1,198
1,004
1,170
482
264
72,639
16,516
495
3,583
12,438
6,973
554
372
402
545
992
1,198
1,005
1,161
482
262
72,622
16,512
493
3,568
12,451
6,983
555
368
403
546
992
1,192
1,005
1,177
481
264
72,679
16,524
486
3,562
12,476
6,986
555
370
405
547
991
1,191
1,004
1,181
479
263
72,701
16,494
481
3,564
12,449
6,964
554
370
404
544
991
1,187
999
1,175
477
263
72,670
16,456
476
3,548
12,432
6,945
554
369
405
541
989
1,180
996
1,171
476
264
72,538
16,378
470
3,487
12,421
6,931
556
368
402
539
989
1,169
994
1,174
475
265
72,539
16,369
468
3,498
12,403
6,913
556
367
401
539
985
1,165
992
1,171
472
265
72,540
16,344
464
3,494
12,386
6,895
557
367
400
535
984
1,162
992
1,161
472
265
72,561
16,348
462
3,487
12,399
6,906
563
365
399
536
984
1,162
988
1,173
471
265
72,592
16,373
461
3,506
12,406
6,909
565
367
400
535
984
1,161
988
1,173
470
266
108,876 '109,394 P 108,333
'90,735 P 90,657
89,953
r
108,496 '108,433 ' 108,631
89 ,950
'89,868 '89,978
71 ,675
'71,645 P 71 ,754
r
23 548 '23,460 '23443
r
r
'641
'634
'631
4,632
'4,603
P 4,588
18,275
10,398
687
'18,223
'10,362
P 18,224
P 10,336
r
r
r
522
707
1,343
'1,959
1,554
r
1 ,842
'683
'469
'521
'705
'681
'468
'521
'702
1,338
'1,952
' 1 ,548
1,835
' 1 ,336
' 1 ,940
P 1 ,543
'1,834
'949
'944
'940
^371
'467
r
368
367
7,877
"1,678
49
679
1,026
'7,861
'1,670
49
r
'7,888
' 1 ,681
'49
'680
'682
'1,021
'1,033
'691
'689
'688
1,522
1,073
156
880
123
'1,519
'1,073
156
882
'1,518
'1,071
r
84 ,948
r
5,745
r
5,993
'19,150
'6,681
r
28,833
r
18,546
'2,984
r
4,367
'11,195
'84,973
'5,738
'5,988
'19,151
'6,671
'28,860
'18,565
'2,972
'4,375
'11,218
'85,188
P 5,742
'5,969
'19,186
'6,668
'28,970
'18,653
'2,968
'4,375
'11,310
72,203
12,309
'72,873
'12,359
'73,625
'12,453
'73,559
'12,344
72,777
16,383
457
3,514
12,412
6,903
565
369
403
535
985
1,165
986
1.164
465
266
'72,887
'16,407
452
'3,545
'12,410
'6,896
564
'72,864
'16,351
'72,921
'16,345
M43
'3,514
'12,388
'6,861
r
'369
'404
'533
985
'1,172
'988
'1,149
465
'267
'122
'449
'3.523
12,379
'6.874
'560
'370
'404
'532
'156
'884
'126
'558
'369
'403
'531
'980
982
'1,169
984
'1.145
'1.147
'463
'265
'463
'267
'1,164
'979
August 1992 • S-ll
SURVEY OF CURRENT BUSINESS
Unless otherwise stated in footnotes below, data
through 1991 and methodological notes are as shown
in BUSINESS STATISTICS, 1963-91
Annual
1990
1992
1991
1991
June
| July
Aug.
| Sept. I Oct.
Nov.
Dec.
Jan.
| Feb.
| Mar. | Apr.
May
June I July
5. LABOR FORCE, EMPLOYMENT, AND EARNINGS-Continued
EMPLOYMENT §-Continued
[Thousands]
Seasonally adjusted—Continued
Production or nonsupervisory workers—Continued
Nondurable goods
Food and kindred products
Tobacco manufactures
Textile mill products
Apparel and other textile products
Paper and allied products
Printing and publishing
Chemicals and allied products
Petroleum and coal products
Rubber and misc. plastics products
Leather and leather products
Service-producing
Transportation and public utilities
Wholesale trade . . . .
Retail trade
Finance, insurance, and real estate
Services
5600
1 198
37
594
871
524
874
601
103
689
110
56636
4,821
4981
17425
4876
24,534
5479
1 208
36
576
845
518
850
579
103
663
101
56172
4,798
4862
16987
4818
24,707
5465
1 210
36
575
840
516
846
578
103
660
101
56123
4,791
4864
17005
4819
24,644
5468
1,196
37
578
851
516
848
576
103
661
102
56110
4,798
4858
16970
4809
24,675
5490
1 218
38
577
848
518
846
577
103
664
101
56155
4,800
4845
16966
4804
24,740
5485
1 212
37
578
850
518
847
574
103
665
101
56207
4,801
4845
16937
4801
24,823
5487
1 209
37
580
853
517
845
576
103
667
100
56214
4,797
4839
16888
4804
24886
5490
1 207
36
580
860
518
844
572
103
669
101
5490
1 207
37
582
858
518
843
571
103
670
101
5491
1 210
37
582
857
517
843
570
103
672
100
5493
1210
37
584
858
516
841
569
104
674
100
5497
1 211
37
586
858
517
841
568
103
676
100
5509
1 222
37
585
857
519
842
567
103
676
101
56160
4,797
4833
16848
4809
24873
56170
4,794
4823
16827
4809
24917
56196
4,794
4815
16821
4813
24953
56213
4,797
4808
16840
4819
24949
56219
4,795
4805
16808
4820
24991
56394
4,791
4810
T6874
4826
25093
347
34.5
446
388
345
34.2
44 1
386
347
34.3
444
38.8
346
34.4
442
39.1
344
34.3
440
392
343
34.4
441
378
347
34.5
440
379
338
34.3
437
367
342
346
442
366
343
345
443
373
342
343
442
382
41 3
409
3.7
41 7
41.0
3.7
406
409
3.6
409
41 1
3.8
41 3
37
404
39.1
41 6
425
41.4
41.8
41.0
42.1
41 1
39.7
41 4
37
406
395
41 9
426
415
41.9
41.1
42.0
41 1
40.0
41 3
35
405
39.5
41 6
424
41.4
41.8
41.0
41.6
41 0
39.8
406
41 1
37
41 6
37
41 1
397
41 9
429
41 6
42.1
41.1
420
41 2
399
378
43.1
44.1
41.4
37.2
40.4
38
40.7
385
41.3
37.3
43.4
380
43.3
44.5
41.5
38.1
40.5
38
40.6
394
41.5
37.4
43.5
38 1
43.4
43.5
41.5
37.7
40.4
37
40.6
39.1
41.0
37.4
43.4
379
43.2
42.4
41.5
37.6
r
5514
1 221
37
583
861
521
'842
r
568
'102
679
100
'5505
'1 217
37
583
'855
'519
841
'569
'103
'682
99
'5527
'1 225
'37
'584
'868
'519
'840
'566
'103
'684
'101
r
56 480 '56513 '56576
'4,797
4,790
'4,791
'4797
'4815
'4813
r
16 872 ' 1 6 864 ' 1 6 867
r
'4823
4826
'4831
r
25 177 '25 222 '25284
r
AVERAGE HOURS PER WEEK §
/Hours;
Seasonally adjusted:
Average weekly hours per worker on private nonfarm payrolls: 0
Not seasonally adjusted
Seasonally adjusted
Mining
Construction ±
Manufacturing:
Not seasonally adjusted
Seasonally adjusted
Overtime hours
Durable goods
Overtime hours
Lumber and wood products
Furniture and fixtures
Stone clay and glass products
Primary metal industries
Fabricated metal products
Industrial machinery and equipment
Electronic and other electrical equipment ...
Transportation equipment
Instruments and related products
Miscellaneous manufacturing
Nondurable goods
Overtime hours
Food and kindred products
Tobacco manufactures i
Textile mill products
Apparel and other textile products
Paper and allied products
Printing and publishing
Chemicals and allied products
Petroleum and coal products *
Rubber and misc. plastics products
Leather and leather products
Transportation and public utilities
Wholesale trade
Retail trade
Finance, insurance, and real estate i
Services
345
343
441
382
444
381
408
407
3.6
41 3
37
402
39.1
420
427
41.3
41.9
40.8
42.0
41 1
39.5
40.0
36
40.8
392
39.9
36.4
43.3
379
42.6
44.6
41.1
37.4
389
381
28.8
358
325
3.6
41 1
35
400
38.9
41 7
422
41.2
41.7
40.7
41.9
41 0
39.6
40.2
37
40i6
391
40.6
37.0
43.3
377
42.9
44.1
41.1
37.5
387
381
28.6
35.7
324
409
40.7
3.6
41 2
36
403
39.0
420
422
41.1
41.8
40.7
42.0
409
39.7
40.1
37
40.5
395
40.8
36.9
43.3
378
42.8
44.9
41.0
37.6
389
38.3
28.8
36.2
326
404
40.7
3.6
41 2
36
"40.0
39.1
41 8
423
41.2
41.6
40.6
42.1
407
39.6
40.1
37
40.5
384
40.9
37.0
43.4
376
42.7
43.9
41.1
37.6
385
37.9
28.5
35.6
322
409
40.9
3.7
41 3
37
40.1
39.0
41 7
428
41.4
41.9
40.7
42.1
41 0
40.0
40.3
38
40.5
39.3
41.2
37.2
43.4
378
43.0
43.6
41.3
37.4
387
38.2
28.6
35.7
324
41 4
40.9
3.7
41 4
37
40.2
39.1
41 9
426
41.4
42.0
40.7
42.1
41 2
40.0
40.3
38
40.6
403
41.2
37.3
43.4
37.6
43.1
44.6
41.2
37.7
389
38.2
28.6
36.0
324
41 1
40.9
3.7
41 3
37
40.1
39.1
41 8
426
41.5
41.8
40.7
42.3
41 0
39.8
40.3
38
40.6
402
41.2
37.3
43.4
385
38.1
28.5
35.5
324
385
38.2
28.7
35.6
324
386
38.2
28.7
36.2
325
20320
166.52
1 63
10.21
40.49
11.78
12.27
29.45
12.55
48.14
36.69
19976
162.91
1.59
9.29
39.04
11.64
12.02
28.61
12.43
48.29
36.84
200 27
163.62
1.62
9.32
38.99
11.68
12.09
28.86
12.58
48.49
36.65
198.61
161.96
1.58
9.26
38.98
11.57
11.95
28.51
12.24
47.87
36.66
199.53
163.00
1.58
9.21
39.12
11.63
12.02
28.62
12.41
48.41
36.53
200.22
163.37
1.56
9.31
39.07
11.70
12.02
28.58
12.48
48.64
36.85
199.68
162.68
1.54
9.20
39.02
11.60
11.97
28.42
12.38
48.55
37.00
199.74
162.72
1.53
9.04
39.00
11.57
11.98
28.55
12.42
48.64
37.02
1235
109.8
640
138.3
106.7
1057
1081
1296
114.8
1162
123.4
120.6
144.9
1205
103.8
622
123.7
102.3
99.6
106.1
128.0
113.5
1135
119.4
118.9
145.2
121.1
103.8
63.0
124.3
102.2
99.6
105.8
128.8
114.0
1142
120.5
120.5
145.8
119.9
103.6
62.0
123.4
102.2
99.6
105.8
127.2
113.0
112.9
119.0
117.6
144.2
120.6
104.0
61.5
122.9
102.8
100.0
106.7
128.0
113.6
113.5
119.4
118.4
145.5
120.8
104.1
60.6
124.2
102.6
99.8
106.6
128.3
114.2
113.5
119.2
119.0
146.0
120.4
103.6
59.7
122.7
102.5
99.5
106.7
127.9
113.0
113.0
118.4
118.4
146.3
120.4
103.2
59.1
120.0
102.5
99.3
107.1
128.1
113.0
113.2
119.0
118.9
146.3
344
34.6
443
389
346
34.3
'433
389
'346
'34.3
'437
'388
404
41 1
3.9
41 1
41 3
'4.1
41 3
'41 0
3.9
'406
'41 0
'3.8
41 6
37
41 0
401
420
430
41 6
42.2
41.2
42.0
41 2
40.0
41 5
38
406
400
424
432
41 3
42.1
41.0
41.8
409
39.9
41 9
41
408
MOO
425
436
41.9
42.6
'41.5
'42.2
41 4
40.0
'41 5
39
402
'399
423
'432
41.6
42.2
41.1
41.9
'41 1
'39.9
'41 5
'38
'406
'40.2
'424
'431
'41.9
'42.2
'41.4
'41.2
'408
'40.0
40.5
38
40.8
371
41.4
37.2
43.6
380
43.4
43.5
41.7
37.1
40.5
39
40.7
391
41.3
37.4
43.6
38 1
43.1
43.9
41.7
37.6
40.6
41
40.7
380
41.4
37.2
44.0
380
43.1
43.5
42.3
38.0
'40.5
r
41
40.5
382
'41.4
37.3
r
43.8
382
43.4
'44.5
41.9
'38.2
'40.4
'39
'40.3
'395
41.3
37.3
43.8
'380
43.2
'43.7
'41.9
38.1
'40.3
'38
'40.2
'37.7
'40.9
'37.0
'43.6
'38 1
'43.1
'43.5
'41.6
'38.1
385
38.1
28.7
35.6
324
387
385
29.0
36.4
326
385
383
28.8
36.2
326
382
38.3
28.6
35.7
324
r
388
38.3
28.8
35.6
326
'386
38.1
28.6
35.6
324
'387
'38.1
'28.6
'35.7
'324
200.14
163.21
1.52
9.17
38.98
11.58
11.96
28.52
12.54
48.95
36.93
199.45
162.27
1.49
9.04
38.79
11.51
11.91
28.53
12.40
48.60
37.19
201 05
163.67
1 50
9.01
38.94
11.61
12.02
28.87
12.64
49.09
37.38
20064
163.39
1 50
9.07
38.94
11.54
11.94
28:59
12.63
49.18
37.25
20012
162.74
1.48
9.15
38.91
11.49
11.94
28.52
12.36
48.90
37.38
r
201 07
' 163.97
1.48
r
9.37
39.04
'11.59
'11.94
r
28.68
' 12.49
r
49.39
'37.10
'200.16
'162.91
'1.42
'9.17
38.77
'11.57
'11.86
'28.48
12.38
'49.25
'37.25
'200.12
'162.79
'1.42
'9.14
'38.72
'11.59
' 1 1 .83
'28.53
'12.30
'49.26
'37.32
120.7
103.5
58.7
121.9
102.6
99.3
107.2
128.5
113.2
112.9
118.8
119.9
147.0
120.3
102.8
57.8
120.2
102.1
98.6
106.9
128.2
112.9
112.5
118.8
119.0
146.7
121.2
103.2
58.2
119.7
102.7
99.5
107.3
129.3
113.6
113.5
120.2
120.8
147.6
121.0
103.5
58.3
120.6
102.9
99.7
107.4
128.9
112.9
112.8
119.1
120.5
147.9
120.7
103.6
57.6
121.9
102.8
99.2
107.8
128.4
112.0
112.9
118.8
118.3
147.6
121.7
104.6
'57.1
'125.2
'103.3
'100.1
'107.8
'129.4
'113.7
113.0
'119.6
'119.0
'149.0
'120.9
103.3
'55.5
'122.5
102.5
'99.0
107.3
'128.7
'113.1
'112.4
'118.7
118.6
'148.3
'120.9
'103.2
'55.2
'122.2
'102.3
'98.8
'107.3
'128.9
'113.6
'112.0
'118.7
'118.4
'148.7
r
AGGREGATE EMPLOYEE-HOURS §
[Billions of hours]
Seasonally adjusted:
Employee-hours, wage and salary workers in
nonagric. establishments, for 1 week in the
month seas adj at annual rate .
Total private sector
Mining
Construction
Manufacturing
Transportation and public utilities
Wholesale trade
Retail trade
,
Finance, insurance, and real estate
Services
Government
[1982=100]
Indexes of employee-hours (aggregate weekly): 0
Private nonfarm payrolls total
Goods-producing
Mining
Construction
Manufacturing
Durable goods
Nondurable goods
. ..
Service-producing
Transportation and public utilities
Wholesale trade
Retail trade
Finance, insurance, and real estate
Services
See footnotes at end of tables.
SURVEY OF CURRENT BUSINESS
S-12 • August 1992
Unless otherwise stated in footnotes below, data
through 1991 and methodological notes are as shown
in BUSINESS STATISTICS, 1953-91
Annual
1992
1991
June
1991
1990
July
Sept.
Aug.
Oct.
Nov.
Dec.
| Feb.
Jan.
I
Mar.
Apr.
June
I May
July
5. LABOR FORCE, EMPLOYMENT, AND EARNINGS-Continued
HOURLY AND WEEKLY EARNINGS §
[Dollars]
Average hourly earnings per worker, not seas,
adj.: 0
Private nonfarm payrolls
Mining
Construction
Manufacturing . . .
Excluding overtime
Durable goods
Excluding overtime
Lumber and wood products
Furniture and fixtures
Stone clay and glass products
Primary metal industries
Fabricated metal products
Industrial machinery and equipment
Electronic and other electrical equipment ...
Transportation equipment
Instruments and related products
Miscellaneous manufacturing
Nondurable goods
Excluding overtime
Food and kindred products
Tobacco manufactures
Textile mill products
Apparel and other textile products . ..
Paper and allied products
Printing and publishing
Chemicals and allied products
Petroleum and coal products
Rubber and misc. plastics products
Leather and leather products
Transportation and public utilities
Wholesale trade
Retail trade
Finance, insurance, and real estate
Services
Average hourly earnings per worker, seas, adj.: 0
Private nonfarm payrolls
Mining
Construction
Manufacturing
Transportation and public utilities
Wholesale trade
Retail trade
Finance insurance and real estate
Services
[Dollars per hour]
Hourly wages, not seasonally adjusted:
Construction wages, 20 cities (ENR): §§
Common labor
Skilled labor
Railroad wages (average class I)
[Dollars]
Avg. weekly earnings per worker, private nonfarm: 0
Current dollars, seasonally adjusted
1982 dollars, seasonally adjusted ± ..
Current dollars, not seasonally adjusted:
Private nonfarm, total
Mining
Construction
Manufacturing
Durable goods
Nondurable goods
Transportation and public utilities
Wholesale trade
Retail trade
Finance insurance and real estate
Services
1001
1033
1030
1029
1029
1044
1043
1045
1049
1050
13.68
14.18
14.21
14.18
14.13
14.59
1385
1394
1401
14.12
14 11
14.50
1399
14.32
14 12
14.27
1377
1083
1398
1409
1404
11 18
10.71
11.75
11 27
11 18
10.70
11.75
11 26
11 22
10.74
11.80
11 31
11 17
10.66
11.76
11 25
1127
1125
10.73
11.88
11 33
10.74
11.86
11 33
11 31
10.79
11.91
11 37
11 38
10.85
11.96
11 41
11 29
10.84
11.84
11 39
10.37
11.35
1086
908
8.52
9.24
8.76
9.31
8.74
9.30
8.76
9.32
8.81
9.37
8.86
9.31
8.84
9.33
8.84
9.34
8.94
9.34
8.85
11 12
12.92
10.83
11.77
10.30
14.08
11.29
11 37
13.34
11.19
12.16
10.71
14.74
11.65
11 40
13.33
11.19
12.15
10.71
14.76
11.62
11 43
13.45
11.22
12.16
10.75
14.84
11.65
11 42
13.43
11.21
12.14
10.76
14.77
11.60
11 45
13.52
11.31
12.23
10.81
15.00
11.67
11 42
13.48
11.29
12.25
10.76
15.01
11.70
11 48
13.49
11.35
12.28
10.86
15.05
11.74
11 49
13.49
11.39
12.33
10.94
15.12
11.82
11 46
13.42
11.29
12.23
10.87
14.85
11.78
1052
1452
1387
1054
1054
14.54
14.52
1403
1402
11 32
10.87
11.89
11 43
937
11 36
10.89
11.92
11 44
11 41
10.96
11.95
11 49
8.85
9.34
8.89
9.35
8.91
11 42
13.45
11.33
12.29
10.88
14.94
11.77
11 49
13.48
11.34
12.33
10.92
14.99
11.84
11 60
13.64
11.40
12.30
10.98
14.97
11.88
8.61
8.85
8.88
8.83
8.85
8.90
8.86
8.93
9.08
9.06
9.07
9.11
9.13
1012
9.69
9.62
1623
8.02
10.44
10.43
10.42
10.48
10.47
9.97
9.94
1824
8.28
6.78
9.92
9.84
1632
8.36
6.82
9.97
9.89
1574
8.42
6.88
9.98
9.87
1576
8.40
6.83
10.54
10.04
10.04
10.62
10.13
10.14
10.58
10.14
10.08
1058
9.98
9.90
1668
8.30
6.77
10.47
10.00
10.63
10.18
10.13
10.71
10.27
10.20
1669
8.46
6.82
1575
8.49
6.88
1586
8.49
1596
8.49
1725
8.56
6.98
12.69
11.42
14.01
16.85
10.05
717
13.17
11.18
694
10.40
10.18
12.81
11.47
14.11
16.87
10.08
712
13.26
11.13
694
10.34
10.12
12.75
11.54
14.01
16.80
10.08
12.83
11.61
14.19
17.15
10.10
12.88
11.61
14.22
17.39
10.14
12.98
11.68
14.28
17.48
10.23
12.95
11.68
14.26
17.96
10.27
13.02
11.64
14.39
17.92
10.33
7.20
7.25
7.34
13.26
11.13
693
10.35
10.13
12.83
11.63
14.15
17.16
10.13
720
13.33
11.23
703
10.51
10.32
13.26
11.18
703
10.47
10.32
13.28
11.25
706
10.52
10.39
13.38
11.33
705
10.66
10.48
685
12.88
11.59
14.23
17.92
10.24
739
13.47
11.36
710
10.81
10.54
1676
8.51
6.87
12.73
11.49
14.02
17.03
10.07
718
13.24
11.15
695
10.40
10.22
683
12.90
11.60
14.24
17.55
10.28
737
13.36
11.29
710
10.66
10.49
1001
1033
1035
1034
1038
1039
1051
14.24
14.21
14.23
14.30
14.43
14.43
14.45
1399
1396
1399
1403
1401
1402
1399
1393
11.18
13.24
11 15
11.17
13.24
11 22
11.21
13.27
11 14
11.24
13.28
11 20
11.25
13.27
11 21
10.42
14.35
13.98
11.30
13.27
11 25
1046
14.18
1377
1083
10.40
14.25
14.01
11.27
13.24
11 21
1046
13.68
11.32
13.34
11 27
11.27
13.34
11 27
657
12.31
11.24
13.54
16.24
9.76
691
12.97
10.79
675
997
9.83
12.97
1079
6.75
9.90
1816
8.27
6.80
7.11
1055
1053
14.45
1405
11 44
10.94
12.02
r
11 49
"14.54
"1408
11 45
10.93
"12.04
11 49
"9.41
"8.98
"11 65
13.70
"11.44
12.44
11.06
"15.18
"11.86
"9.12
"10.68
"10.20
10.20
"1807
"8.59
"6.97
13.01
11.67
"14.38
"17.62
"10.34
"7.41
"13.40
"11.34
r
r
r
9.40
8.95
11 65
r
13.65
"11.43
r
12.38
r
10.99
M5.17
"11.86
9.10
r
7.44
7.47
13.38
11.34
711
10.80
10.53
13.43
11.34
712
10.75
10.50
10.69
10.22
10.23
"1752
r
8.58
r
6.96
"13.05
11.66
"14.39
"17.78
"10.33
"7.41
"13.39
11.35
712
10.76
10.47
11 34
13.43
11 33
10.55
14.50
14.06
11.37
13.41
11 35
10.52
14.46
14.03
11.42
13.43
11 29
"14.49
"14.09
11.44
"13.44
11 37
7.09
1073
1047
7.12
1078
7.09
1068
10.50
10.46
10.15
10.07
1056
"710
'709
10.70
"10.42
'10.72
'10.39
10.58
"14.55
"14.19
11.44
"13.47
"11 39
"7.11
"10.53
'10.58
'14.53
'14.08
' 1 1 .45
'13.48
'11 40
'7.13
'1075
'10.51
25.49
6.95
1040
6.96
1047
6.98
1038
6.99
1046
7.00
1051
7.02
1048
7.04
1054
7.06
1062
7.07
1062
10.22
10.28
10.23
10.28
10.30
10.30
10.35
10.39
10.41
18.88
24.76
1885
19.11
25.09
19.14
25.19
19.14
25.19
1914
24.93
19.07
25.00
1914
24.64
18.98
24.84
1903
23.92
25.19
25.19
19.24
25.18
19.30
25.21
1568
1566
1570
1606
1596
1549
1510
1604
1613
1686
1661
1710
19.32
25.27
"1691
19.32
25.30
1608
345.35
259.47
354.32
255.64
357.08
258.01
353.63
255.14
356.03
256.32
357.42
256.58
356.72
255.53
358.45
255.85
360.87
257.03
358.78
255.36
363.65
258.27
363.98
257.23
360.84
254.47
365.38
257.31
362.89
"254.84
' 362.89
'254.30
345.35
603.29
52601
441.86
468.76
40480
504.53
411.10
194.40
356.93
319.48
354.32
629.59
533.02
455.03
482.93
419.69
512.39
424.82
198.77
371 .28
331.13
357.41
639.45
537.38
457.26
487.63
419.29
516.26
429.31
202.65
376.48
332.89
355.01
618.25
538.08
453.29
480.26
417.75
515.81
424.05
203.34
368.10
328.90
357.06
628.79
543.59
456.85
484.51
422.01
515.81
425.17
203.05
369.50
331.25
361.22
641.54
552.09
466.58
496.58
427.58
521 .20
431 .23
201.76
378.36
335.40
358.79
626.93
553.1 1
462.38
493.38
425.08
511.84
427.08
199.65
371 .69
333.34
358.44
635.02
528.44
467.10
495.46
430.03
511.28
428.63
200.50
374.51
335.60
364.00
648.15
534.01
474.55
504.71
436.48
517.81
435.07
205.86
385.89
341.65
354.90
633.21
515.27
458.37
485.44
424.26
506.34
426.76
197.38
379.50
336.73
359.78
637.43
507.64
459.59
488.68
423.20
517.25
433.95
201.64
393.48
342.55
361.52
636.85
523.32
464.62
493.49
427.33
511.12
433.19
201.92
390.96
342.23
360.47
633.07
535.56
460.96
489.95
425.19
513.03
433.19
203.63
383.78
339.15
362.92
"634.36
"546.55
470.18
501 .23
"430.81
"518.19
434.71
204.34
383.06
339.23
364.34
"635.40
"547.71
472.89
"503.27
"432.54
"521.26
"433.19
"205.90
380.92
"338.65
'363.99
'626.40
'543.98
'465.28
'494.02
'430.00
'527.07
'436.62
'208.45
'382.70
'339.75
997
983
1833
7.12
1076
1049
1076
[June 1989=100]
Total compensation:
Civilian workers t
Workers, by occupational group:
White-collar workers
Blue-collar workers
Service workers
Workers, by industry division:
Manufacturing
Nonmanufacturing
Services
Public administration
Wages and salaries:
Civilian workers t
Workers, by occupational group:
White-collar workers
Blue-collar workers
Service workers
Workers, by industry division:
Manufacturing
Nonmanufacturing
Services
Public administration
110.2
111.5
112.2
113.5
114.2
1108
1092
1104
112.1
112.8
111 1
114.6
1131
113.9
112.6
114.1
1100
1103
1120
1109
1112
1122
1140
1147
111.7
112.3
113.3
114.1
1138
1122
1146
1126
1155
1163
114.0
114.6
108.9
110.0
110.6
111.5
112.1
1096
1074
1089
1108
1106
111.3
108.9
111 3
112.2
109.8
111 9
112.8
110.6
112.4
1084
1090
1107
1095
1093
1102
1124
1106
1103
1107
1130
1109
111 5
1122
1115
112.0
114.3
1103
1123
108.2
1135
114.7
113.7
111 9
1124
HELP-WANTED ADVERTISING
128
93
96
92
91
92
88
89
90
85
89
93
90
"93
1945
1696
EMPLOYMENT COST INDEX
Seasonally adjusted index 1967=100
See footnotes at end of tables.
MO 52
'14.50
'1402
'11 46
'10.95
'12.02
'11 50
'9.44
'9.00
'11 65
'13.75
' 1 1 .42
'12.49
'11.05
'15.04
'11.90
'9.15
'10.75
'10.26
'10.18
'1841
'8.58
'6.96
'13.14
' 1 1 .77
'14.51
'17.82
'10.39
'7.27
'13.48
'11.40
92
August 1992 •
SURVEY OF CURRENT BUSINESS
Unless otherwise stated in footnotes below, data
in BUSINESS STATISTICS, 1963-91
Annual
1992
1991
| 1991
1990
June
July
| Aug.
S-13
Sept.
Nov.
Oct.
Jan.
Dec.
Apr.
Mar.
Feb.
June
May
July
5. LABOR FORCE, EMPLOYMENT, AND EARNINGS-Continued
WORK STOPPAGES
Work stoppages involving 1,000 or more workers:
Number of stoppages:
Beginning in month or year number
Workers involved in stoppages:
Beginning in month or year, thousands
Days idle during month or year thousands
44
40
5
o
4
3
6
3
1
o
1
1
3
'6
'6
185
392
5926
4584
37
462
0
272
6
283
4
272
12
306
10
362
1
416
0
393
2
369
3
367
14
388
'10
'322
'239
'738
20,184
- 23,222
3,332
1,497
3,127
29
1,864
2,028
1,519
1,359
1,735
1,891
2,779
3,030
26
1,681
26
1,831
26
1,681
33
2,183
11,316
170.50
13,031
169.16
11,636
169.02
10,199
170.70
11,079
171.27
10,206
170.79
13,259
170.99
2,724
16,547
171.65
2,476
14,758
173.39
2,664
15,860
173.87
2,398
14,306
173.88
3,114
'30
1,946
'3,057
28
1,911
4,107
39
'1,656
3,542
2,041
2,728
1,775
4,010
38
' 1 ,652
2,734
1,887
4,105
39
'1,414
2,940
'2,603
3,487
2,923
3,214
30
2,135
'11,629
173.70
105
24.7
131
85.4
160
28.9
16.9
109.2
100
29.3
17.3
113.6
100
28.6
161
104.0
141
31.0
188
120.7
11 6
30.3
176
110.9
143
35.5
21 2
134.0
153
'36.6
234
145.4
91
'34.7
202
123.4
93
'32.6
209
127.5
101
'28.0
182
110.6
97
'25.6
159
'97.2
153.65
155.02
152.68
154.46
15550
158.56
157.94
160.90
163.98
163.67
16427
'16350
'108.5
'163.68
162.19
108
16.4
88
49.4
153
19.8
122
67.0
181 53
152
22.8
142
78.3
181 83
144
25.6
155
84.7
170
28.2
186
102.1
181 06
142
27.9
176
95.6
200
41.6
288
151.7
254
53.4
395
216.6
183
59.1
398
213.4
196
59.2
430
187
56.3
41 5
176
53.8
382
21 8
'56.3
'414
252
57.0
441
232.3
18374
18987
18220
18628
224.7
18457
205.9
18535
'221.4
'18708
233.3
18923
44910
525,624
392 341
211 801
180540
133283
43947
529,699
394 731
213350
181 381
134968
43770
528,124
403 556
221 093
182483
124568
43112
535,802
403157
221 310
181 847
132645
41 375
534,540
397 939
216796
181 143
136601
39335
546,398
400 697
226 667
174,030
145701
536,585
394 322
223 381
170,941
142263
544,730
405 597
234 447
171 150
139133
4
113
UNEMPLOYMENT INSURANCE i
State programs:
Initial claims, thousands
Average weekly insured unemployment, thousands
Rate of insured unemployment percenl@
Total benefits paid, mil. $
Weeks of unemployment compensated, thousands
Average weekly benefit, dollars
Federal civilian employees unemployment insurance
(UCFE):
Initial claims thousands
Average weekly insured unemployment, thousands
Total benefits paid, mil. $
Weeks of unemployment compensated, thousands
Average weekly benefit, dollars
Veterans unemployment insurance (UCX):
Initial claims, thousands
Average weekly insured unemployment, thousands
Total benefits paid mil $ . .
Weeks of unemployment compensated, thousands
Average weekly benefit dollars
2,514
24
31
18,058
115,957
161.64
25,446
155,120
169.97
131 7
24.1
1590
1371
30.7
2140
1,077.5
148.04
1,393.3
153.71
1329
18.4
131 7
1540
22.4
1678
773.3
17058
926.8
17949
17806
18290
r
r
18531
36
29
2.9
'1,983
'11,875
'173.19
2,049
12,343
170.65
138
'27.5
'178
179
31.6
20.4
125.6
6. FINANCE
BANKING
[Millions of dollars]
Open market paper outstanding, end of period:
Bankers' acceptances
Commercial and financial company paper, total
Financial companies
Dealer placed
Directly placed
Nonfinancial companies
Loans of the Farm Credit System:
Total end of period
...
Long-term real estate loans
Short-term and intermediate-term loans
Loans to cooperatives
Federal Reserve banks, condition, end of period:
Assets, total #
Reserve bank credit outstanding, total #
Loans
U.S. Government securities
Gold certificate account
Liabilities
total*
Deposits total
Member-bank reserve balances
Federal Reserve notes in circulation
All member banks of Federal Reserve System, averages of daily figures:
Reserves held, total
Required
Excess
Borrowings from Federal Reserve banks
Free reserves
Large commercial banks reporting to Federal Reserve
System, last Wed. of mo.:
Deposits:
Demand, total #
Individuals, partnerships, and corporations
States and political subdivisions
U S Government
Depository institutions in U.S
Transaction balances other than demand deposits
Nontransaction balances total
. .
Individuals, partnerships, and corporations
Loans and leases(adjusted), total §
Commercial and industrial
For purchasing and carrying securities
To nonbank depository and other financial
Real estate loans
To States and political subdivisions
Other loans
Investments total
U.S. Treasury and government agency securities, total
Investment account
Other securities
See footnotes at end of tables.
54771
557,811
420 398
221 362
119,036
137413
43770
528,124
403 556
221 093
182463
124568
51 172
29,416
10673
1 1 ,083
45539
540,801
396 052
206 187
189865
144749
44756
543,563
398313
205510
192803
145250
44228
534,052
397 453
206 702
190751
136599
51 079
29,152
11 190
10737
43462
532,107
400 292
213516
186776
131 815
51 262
29,255
11 389
10618
51 457
28,767
11 223
11 467
39309
538,075
401 877
221 480
180,397
136198
52098
28,776
10650
12671
327,573
353,061
318,604
320,401
319,763
321 ,636
333,357
329,519
353,061
333,129
330,347
335,971
332,011
332,729
344,466
347,656
262,002
190
252,103
11 058
289,394
218
281 831
11 059
256,813
1 479
248 446
11 062
258,636
574
250 978
11 062
261,991
844
254,959
11 062
264,528
315
258,554
11 062
274,061
153
267 675
11 059
271,992
106
265,213
11 058
289,394
218
281,831
11 059
272,481
112
266,148
11 058
271,536
62
265,423
11 058
274,013
52
267,601
11 057
274,830
115
267,945
11 057
277,354
150
271 ,052
11 057
283,729
1 359
276,883
11 060
282,069
256
275,969
11 060
327 573
353 061
318604
320 401
319763
321 636
333 357
329519
353 061
333 129
330,347
335,971
332,01 1
332,729
344,466
347,656
48,228
38658
267,657
49783
29413
287,906
34460
22202
272,000
34,228
27871
272,962
31 ,200
23962
275,210
36,000
27404
273,809
44,061
25513
276,792
34,129
27246
282,027
49,783
29413
287,906
40,595
29195
280,117
36,659
30688
281,605
36,952
29,480
283,383
32,960
27,801
286,457
29,527
23503
289,684
36,839
22,740
290,772
40,270
25,302
294,107
59,150
57456
1,665
55,532
54553
50,407
49399
1,008
50,660
49754
50,607
49521
1,086
51,127
50198
51,584
50501
1,083
53,057
52165
55,532
54553
55,238
54,174
1,065
56,282
55,254
1,028
50,455
49,318
1,137
48,825
47825
1,000
49,822
48,856
261
834
979
192
788
55,812
54809
1,003
'49,496
'48,584
892
108
786
233
771
77
990
91
939
90
1,049
155
845
326
1,362
979
192
788
340
676
906
607
345
764
622
929
645
586
216,086
174,760
6609
1,299
18,887
218,221
173,948
7304
1,610
19,243
221 ,790
177,964
6984
1,634
20,553
244,247
194,355
8342
3,397
22,503
255,000
204,158
8845
2,158
23,508
230,582
182,976
7792
1,787
20,130
233,222
184,674
8026
1,771
22,077
236,975
188,976
8059
1,535
21,004
244,783
194,581
8,107
3,544
21,629
247,41 1
194,793
90002
791 ,441
756,847
89,716
784,509
750,959
91,751
780,087
748,624
96,188
777,657
746,642
101,757
788,004
758,036
99,453
780,392
749,284
100,503
778,947
746,634
102,383
774,935
744,372
'913
229
'684
966
284
682
1,411
24,959
235,901
187,252
8,985
2,162
21 ,221
240,649
194,223
7,747
1,790
20,731
101,466
771,221
740,092
101,775
767,467
735,992
100,711
758,296
729,710
102,188
754,062
726,714
1,039,347 1,020,070 1,015,162 11015,986 1 ,008,330 1,007,962 1 ,027,027 1,015,587 1,013,644 1,015,170 1,014,895
297,275 295,727 294,318
294,246
288,876 289,163
286,598
308,751
302,509 298,898
288,696
12,672
14,817
14,197
13,917
14,315
13,725
14,104
13,371
14,096
11,463
14,351
21,694
21,987
23,032
22,022
21,832
22,499
21,961
22,655
21,670
22,529
23,123
396,960 396,067 395,619 402,887
402,432 400,945 400',247 403,272
404,012 399,870 396,910
17,167
16,822
18578
18,343
18,091
17,866
17,876
17,221
18719
17,345
19199
264,474 269,042 262,191 262,776 274,078
271 ,897
272,146
270,988
271,399
270813 265,839
999,071
283,940
14.034
21,372
400,688
16,972
262,065
996,078
280,193
14,198
20,671
399,491
16,380
265,145
984,175
276,467
14.620
20,185
397,707
15,719
259,477
219,504
175,648
28,334
23,508
1 602
19,573
211,579
171,652
6626
1 727
18,020
91 138
797,701
762,580
101 757
788004
758,036
87272
788,263
751,858
88425
792,527
757,146
1,072,019
321,314
13,129
24,462
398,753
21 054
293 307
1,027,027
294,246
14,817
23,123
402,887
17876
274 078
238 932
282 554
253 286
253,879
259,765
263,841
276,532
279,824
282,554
284,194
288,374
293,551
291,547
292,835
292,835
302,190
177,816
167790
61,116
225,344
206 837
57,210
195,194
180,073
58,092
197,169
182,252
56,710
203,357
186,968
56,408
207,410
189,404
56,431
220,133
201 ,209
56,399
223,497
203,402
56,327
225,344
206,837
57,210
228,768
208,104
55,426
233,951
212,090
54,423
239,304
215,998
54,247
237.039
214,340
54,508
239,486
218,174
53,349
239,486
218.174
53,349
248,189
229.185
54,001
278,721
218,263
9315
4831
255,000
204,158
8845
2158
7132
8031
SURVEY OF CURRENT BUSINESS
S-14 • August 1992
Unless otherwise stated in footnotes below, data
through 1991 and methodological notes are as
shown in BUSINESS STATISTICS, 1953-91
Annual
1990
1991
June
1991
July
Aug.
1992
Sept.
|
Oct.
|
Nov.
|
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
6. FINANCE-Continued
BANKING-Continued
[Billions of dollars]
Commercial bank credit, seas, adj.: §
Total loans and securities 0
U.S. Government securities
Other securities
Total loans and leases 0
2,723.6
454.2
2 836.0
562.5
2,773 3
493.5
27738
5024
27769
512.6
2,789 1
523.0
2 805.5
538.7
28228
550.8
28380
562.5
2,847.3
565.7
2 847.8
570.4
28541
578.3
28663
589.8
28642
598.5
2 869.0
607.3
1756
1785
1763
1758
1744
1763
1779
1788
1793
1785
1786
1759
1761
2,093.8
2 095.0
2,1036
20955
20899
2,089 8
2088.9
2,093 2
20962
2,103 1
20988
20999
21003
1743
2091 4
2,089.0
1727
[Percent]
Money and interest rates:
Prime rate charged by banks on short-term
business loans
10.01
Discount rate (New York Federal Reserve
Bank) @
8.46
8.50
8.50
8.50
8.20
8.00
7.58
7.21
6.50
6.50
6.50
650
6.50
6.50
6.02
698
545
550
550
550
520
500
458
411
350
350
350
350
350
350
302
9.68
9.01
9.04
9.18
9.12
9.12
9.12
9.19
9.10
9.00
8.93
8.78
8.78
8.38
8.43
8.28
8.25
8.17
8.02
8.29
8.15
8.21
8.14
8.26
8.26
8.30
8.20
8.15
8.04
7.93
5.70
5.94
5.89
5.54
5.38
5.21
4.85
4.42
3.97
4.00
4.19
3.92
3.76
3.80
3.32
795
585
616
614
576
559
533
493
449
406
413
438
413
397
399
353
7.53
5.60
5.75
5.81
5.50
5.34
5.12
4.76
4.31
3.95
3.96
4.15
3.89
3.77
3.80
3.35
3.660
3.700
3.280
Federal intermediate credit bank loans
Home mortgage rates (conventional 1st mortgages):
New home purchase (U.S. avg.)
Existing home purchase (U.S. avg.)
2
2
9.73
Open market rates, New York City:
Bankers' acceptances, 3-month
Commercial paper 6-month £
Finance do. paper placed directly, 6-mo
Yield on U.S. Gov. securities (taxable):
3-month bills (rate on new issue)
7.510
5.420
5.600
5.580
5.390
5.250
5.030
4.600
4.120
3.840
3.840
4.050
3.810
748 300
742 058
727161
725814
728818
729810
729 782
729758
742 058
733 294
725 882
721 091
718676
r
347 466
137450
92,911
43552
45,616
4822
76483
339 565
121 901
92,254
44030
40,315
4362
99631
331 873
127490
91,924
37812
44,008
332 541
127414
91 ,490
37488
43,142
333 655
128,629
92,329
38,091
42,014
4857
89243
333417
125,299
92,605
38,070
41,138
4753
94528
334 835
124,299
92,128
38,147
41,691
4,529
94153
333 272
123228
91,849
39,460
41,337
4388
96224
339 565
121 901
92,254
44030
40,315
4362
99631
335 320
119,206
91,894
41,567
39,448
4,377
101 482
330 464
120,280
91,469
40,015
38,479
327 697
118,353
91,164
39,454
37,142
3,988
103293
326 205
118,364
91 ,339
39,553
36,499
4094
102622
r
269 300 268 940
232120 235 302
3
(3)
3 ( )
224 394 J224 576
267,823
266,747
239577
263 249
243 349
'l
160
263 108
255 895
259 723
245088
223 055
261 ,871
249
320
(3)
3
222,1 03
728618
CONSUMER INSTALLMENT CREDIT f
[Millions of dollars]
Not seasonally adjusted:
Total outstanding (end of period) #
By major holder:
Commercial banks
Finance companies
Credit unions
Retailers
Savings institutions
Gasoline companies
Pools of securitized assets
By major credit type:
Automobile
Revolving
Mobile home
Other
284813
232 370
20,666
210451
4591
4712
89463
89027
270 870
231 228
(3)
3
J
223 055 225 063
263108
255 895
(3)
Seasonally adjusted:
Total outstanding (end of period) #
By major credit type:
Automobile
Revolving
Mobile home
Other
Total net change (during period) #
By major credit type:
Automobile
Revolving
Mobile home
Other
22A 267 ^223,458
J
(3)
(3)
3
(3)
J
730109
728 823
727311
727 449
729225
727 960
727 799
270 789
233,399
268 897
234654
266 620
236 294
264 621
238,987
264,420
241,436
262,383
242,573
263 003
242 785
(3)
(3)
3
237 720
225,922
-1,615
-2600
1,102
(3)
>-116
3
(3)
225 273 J224 396
-1 286 -1,512
(3)
(3)
5
223,842 ^223,369
138
1,776
(3)
J
223,004
-1,265
(3)
J
222,012
-161
(3)
(3)
2,693
(3)
^-554
(3)
(3)
(3)
^-877
>^473
^-365
>-992
78,593
119,424
-40831
76,426
120,075
-43649
109,350
116,238
-6,887
78,068
114,660
-36,592
73,194
117,878
-44,684
103,662
106,199
-2,537
104,091
119,742
-15,650
1 640
-1 999
-201
2,449
620
212
819
•*-649
-2277
-2037
1,137
(3)
3
221 ,071
728 395
r
258,665 257,139
2423 708 r 243315 244 752
()
(3)
(3)
3
21 9,294 3217519 r-?21 6,440 -'216,949
259,530
242 267
258,449
(3)
727 404
723 821
r
722,928
721,909
r
259,834 257,036
r
246,220 247,075
(3)
(3)
(3)
(3)
(3)
(3)
3
3
J
rJ
21
7,541
21 6,874 •^21 7,798
•* 221,196 220,762 220,020
263,134
244,288
131
1,503
P)
>-816
-1 892
1 255
4151
101 024
71 8 420 718840
324 791 323847
116,138 116,690
r
91,823
91 ,605
r
37,438
37,824
r
36,224
35,618
4,360
4,193
r
107645 109064
261 659
245,974
-223
-1 475
1,686
262,125
245,259
260 376
245,905
-991
466
(3)
>-742
62,056
111,230
-49,174
72,917
123,629
-50,712
r
-1 749
646
(3)
r
-893
-1,019
542
'315
-2,798
-2,479
r}
-667
855
(rj3)
924
138,430
123,821
14,609
62,244
109,029
-46,786
120,909
117,126
3,783
-715
(3)
^-434
-3,583
J
(3)
FEDERAL GOVERNMENT FINANCE
[Millions of dollars]
Federal receipts and outlays:
Receipts (net)
Outlays (net)
Total surplus or deficit (—)
Federal financing total
Borrowing from the public
Other
Gross amount of debt outstanding
Held by the public
' 1,031 ,374 '1,054,265
1
1 251 683 '1,323757
;
-220 460 '-269 492
103,389
105,968
-2579
79,074
123,671
-44,597
44,597
49,174
-3,783
50,712 -14,609
46,786
44,684
2,537
15,650
6,292
22,318
28,290
33,840
25,641
11,449
20,938
50,138
22,825
26,101 -16,307
-4,253 -27,821
776
20,901 -13,095
4,681 -19,826
20,181
4
' 3,088,71 6 '3,489,997 3,562,942 3,597,294 3,636,298 3,598,91 9 3,651,127 3,681,196 3,736,276 3,743,534 3,762,074 3,811,671 3,822,222 3,865,111 3,918,787 3,944,020
1
2,351 ,085 '2,628,699 2,667,674 2,702,107 2,734,682 42,687,859 2,727,824 2,753,465 2,776,290 2,788,596 2,809,534 2,859,672 2,867,085 2,900,925 2,923,243 2,951,533
'269,492
'293,239
'25,303
2,579
10,715
8,255
40,831
34,434
-6,357
43,649
32,574
-10,079
6,887
27,970
21,141
36,592
40,657
1,031 ,374 '1,054,265
467 243 '467,649
1
93,506
'98,086
103,389
44,517
16,540
78,593
38,403
76,426
34,560
73,194
31,987
1,306
109,350
47,979
18,580
78,068
39,332
1,770
1,171
1,516
'396,010
'97,581
34,758
7,574
30,360
31,504
9,056
34,042
28,435
31,502
8,317
9,132
8,189
' 1 251 683'1,323757
105,968
120,075
3,085
27,065
43,271
19,136
116,238
3,525
21,006
39,616
16,044
114,660
6,376
22,765
42,710
17,457
' 220,460
1
263,384
'6098
Federal receipts by source and outlays by agen-
cy:
Receipts (net), total
Individual income taxes (net)
Corporation income taxes (net)
Social insurance taxes and contributions
(net)
Other
Outlays (net) total
Agriculture Department
Defense Department military
Health and Human Services Department
Treasury Department
National Aeronautics and Space Administration
Veterans Affairs Department
. .
;
1
'380,047
1
90,670
120,909
53,072
20,784
79,074
35,098
2,732
38,380
8,672
31,722
9,522
109,029
5,007
23,379
44,316
22,801
117,126
24,868
49,575
49,230
123,671
3,595
29,180
48,176
17,536
103,662
41,722
21,719
104,091
60,451
2,992
62,056
22,213
72,917
19,503
11,742
138,430
67,993
14,198
62,244
12,012
1,220
30,996
9,225
31,832
8,765
32,282
6,342
34,237
7,434
47,461
8,779
40,362
117,878
5,926
24,780
44,655
21,486
106,199
23,094
43,576
49,929
119,742
4,372
24,806
44,126
18,296
111,230
3,906
23,262
43,595
20,185
123,629
5,462
22,109
43,303
21,375
123,821
5,080
22,948
45,693
19,756
1,035
2,691
7,179
'46013
'289,773
'438,678
'254597
'54,120
'299,196
'483,936
'276,887
21,090
42,792
47,297
8,061
119,424
4,029
23,066
41,897
16,646
'12,42$
'28,999
'13,878
'31,214
1,03(
1,164
1,08$
1,201
1,19'
4,039
2,445
1,04'
3,114
1,29'
1,804
1,131
3,048
1.30E
2,614
1,14*
3,659
1,1 4i
1,313
1,25'
2,654
2,898
2,686
1,15'
2,51'
1,179
4,010
11,061
384.08
11,059
362.04
11,062
366.72
11,062
367.51
11,062
356.23
11,062
348.79
11,059
358.68
11,058
359.53
11,057
361.06
11,058
354.45
11,058
353.89
11,057
344.34
11,057
338.50
11,057
337.24
340"81
353"05
4.819
4.040
4.390
4.300
3.940
4.030
4.100
4.060
3.910
4.120
4.140
4.100
4.030
4.070
4.060
3.950
3,818
5,761
3,912
GOLD AND SILVER:
Gold:
Monetary stock, U.S. (end of period), mil. $ .
Price at New York, dot. per troy oz. ±±
Silver:
Price at New York, dot. per troy oz. ±±
See footnotes at end of tables.
SURVEY OF CURRENT BUSINESS
Unless otherwise stated in footnotes below, data
through 1991 and methodological notes are as shown
in BUSINESS STATISTICS, 1953-91
Annual
1990
August 1992 •
1991
1991
June
July
Aug.
S-15
1992
Sept. I Oct.
Nov.
Dec.
Jan.
Mar.
Feb.
| Apr.
June
May
July
6. FINANCE-Continued
MONETARY STATISTICS
[Billions of dollars]
Currency in circulation (end of period)
Money stock measures and components (averages of
daily figures):
Measures (not seasonally adjusted):
M1
M2
M3
L (M3 plus other liquid assets)
Components (not seasonally adjusted):
Currency
Demand deposits
Other checkable deposits ++
Overnight HP's and Eurodollars 0 ...
General purpose and broker/dealer money market funds
Money market deposit accounts
Savings deposits
Small time deposits @
Large time deposits @
Measures (seasonally adjusted):
M1
M2
M3
L (M3 plus other liquid assets)
Components (seasonally adjusted):
Currency
Demand deposits
Other checkable deposits ?i
Savings deposits
Small time deposits @ ....
Large time deposits @
2870
3077
291 5
8120
32983
40928
49322
8604
34027
4 1605
49858
8581
34080
41652
49745
2355
277.6
291 0
81 2
2595
280.1
3128
695
2591
279.9
311 0
679
2608
280.9
3121
649
3629
3642
(')
981.1
1 1367
4799
3633
(')
990.9
1 1292
4708
996.5
1 1200
4678
8573
3411 8
41677
49864
8600
34074
41573
4991 3
8665
34095
41566
49850
8720
3411 5
41526
49742
2576
2801
311.6
'9768
1 1406
478.3
2593
2793
313.7
'9861
1 1295
471.2
261 3
2801
317.3
'9941
1 1208
465.5
2629
2806
320.6
'1 0024
1 111 0
4585
2648
2673
2660
2838
2895
2876
329.7
324.5
333.2
'1 0150 ' 1 028 7 1 1 042 6
1 0952
1 0792
1 0630
4500
4371
4423
17,994
5,539
214
852
5739
1,592
253
257
17
1,092
-317
-1,315
8,676
3971
460
-369
4210
1 889
-1 424
-232
-1 148
274
-1 266
1903
24,341
5085
294
796
6268
2,252
-575
401
-140
1,060
1 637
1,847
3332
501.1
911.3
1 1605
5255
2934
8623
34105
41586
49830 -
1
1
980.0
1 1299
471 9
8645
34090
4 1600
4 979 7
8674
34037
4 1449
49651
8755
34127
4 H96
49676
8939
34342
4 1687
4998 1
9173
34528
4 181 1
50096
9182
34559
4 1796
5001 0
9168
34627
4 1897
50052
'9308
'3474 7
'4 1957
'50265
'9547
'34864
'4 1927
'50254
2620
278.8
3151
673
261 \7
278.6
3187
664
2631
2837
3206
694
2663
291 1
3288
730
2700
3030
3365
753
2678
3000
3425
767
2695
2964
3432
765
271 0
3021
3500
'732
2734
3129
'3608
'71 0
3607
1
1
3032
3077
3587
(')
1,001.0
1 1103
4605
1
;
3574
3581
3586
(')
1 0133 ' 1 028 51 1 038 7
1 0971
1 0634
1 080 1
4502
441 9
4355
8809
34173
41587
49777
891 4
34309
4 1665
49907
898 1
34389
4 1704
49893
3690
3596
(')
(') '
' 1 055 4 1 1 078 1
1 046 1
1 0224
4249
4194
9104
34480
- 4 1745
49829
931 o
34755
42002
5011 9
2694
2939
339.0
1
1 061 2
1 0429
4279
271 6
3051
346.3
1
1 083 9
1 0198
4207
1
3669
0)
1 1005
1 0033
4135
9390
'34741
'4 1907
'50196
'9522
'9440
'3452 0 '34562
'4 1592 '4 1562
'4 984 2 4998 1
2757
3075
'3531
'671
3523
3604
(')
M 1157 r / i 1224
'9662
'9846
'4024
'4045
n
2773
'3106
'3561
'698
2808
3172
3568
702
3489
(')
\ 1322
'9530
'3969
3454
(')
M 1399
941 4
3879
rl
'9543
'951 8
'34697 '34603
'4 1735 '4 159 1
'5 000 8 5011 1
'9428
'34683
'4 1759
'50105
271 8
2736
2747
311 2
3096
'315 1
349.5
'350.0
'356.5
1
1 098 0 r / 1 111 2r / 1 1224
1 0029
'9856
'9691
'4130
4057
'4009
9634
34603
4 154 1
2762
311 0
'356.7
r/
1 1270
'9565
'3953
961 0
34572
4 1530
2790
3156
358.6
'\ 1343
9417
3881
PROFITS AND DIVIDENDS (QTRLY.)
[Millions of dollars]
Manufacturing corps. (Bureau of the Census):
Net profits after taxes, all manufacturing
Food and kindred products
Textile mill products
Paper and allied products
Chemicals and allied products
Petroleum and coal products
Stone clay and glass products
Primary nonferrous metal
Primary iron and steel
Fabricated metal products
Machinery (except electrical)
Electrical and electronic equipment
Transportation equipment (except motor vehicles
and equipment)
Motor vehicles and equipment
All other manufacturing industries
Dividends paid (cash), all manufacturing
111,319
16074
429
4817
23412
17967
-916
2516
583
4638
11 205
6409
-1 439
3359
-2740
4706
23,009
5,160
191
821
5385
2527
123
414
-50
1 491
87
2244
5065
-552
19756
2694
-7607
15404
1 509
-1 294
4,444
85
-1 679
5,699
234
-2658
2711
196
526
4,694
62197
60,222
14,973
14,654
15,873
14,815
67,965
19,639
833
2,164
20558
10868
-1 602
I
t
SECURITIES ISSUED
[Millions of dollars]
Securities and Exchange Commission:
Estimated gross proceeds, total
By type of security:
Bonds and notes, corporate
Common stock
Preferred stock
By type of issuer:
Corporate, total #
Manufacturing
Extractive
Public utility
Transportation
Communication
Financial and real estate
State and municipal issues (Bond Buyer):
Long-term
Short-term
r
127,938
34,693
r
172,576
43,809
r
r
r
16,464
10,928
r
13,140
' 5,960
r
17,91 5
'7,106
r
13,988
'4,390
r
14,034
r
2,203
'19,215
'853
r
19,748
' 1,962
r
15,087
'952
'16,001
'3,444
'19,169
'1,402
'18,087
'3,269
'18,336
'956
27,404
8,161
15,775
2,226
SECURITY MARKETS
[Millions of dollars, unless otherwise indicated]
Stock Market Customer Financing
Marqin credit at broker-dealers end of year or month
Free credit balances at brokers, end of year or
month:
Maroin-account
Bonds
Prices:
Standard & Poor's Corporation, domestic municipal
(15 bonds), dot per $100 bond
Sales:
New York Stock Exchange, exclusive of some
stopped sales, face value, total
,
See footnotes at end of tables.
28210
8050
19285
66.0
68.8
66.9
10,892.70
12,698.11
854.25
68.1
889.76
69.0
924.05
69.5
880.40
71.4
71.0
1,104.51
899.00
71.1
1,037.61
73.0
1 £74.73
77.1
1,251.32
70.6
1,124.58
71.0
924.16
71.7
840.52
73.7
904.49
75.8
999.56
SURVEY OF CURRENT BUSINESS
S-16 • August 1992
Unless otherwise stated in footnotes below, data
through 1991 and methodological notes are as
shown in BUSINESS STATISTICS, 1953-91
Annual
1990
1991
June
1991
| July
Aug.
Sept.
1992
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
6. FINANCE-Contjnued
Bonds—Continued
[Percent]
Yields:
Domestic corporate (Moody's)
By rating:
Aaa
Aa
A
Baa
By group:
Industrials
Public utilities
Railroads
Domestic municipal:
Bond Buyer (20 bonds)
Standard & Poor's Corp. (15 bonds)
U S Treasury bonds taxable *
Stocks
Prices:
Dow Jones averages (65 stocks)
Industrial (30 stocks)
Public utility (15 stocks)
Transportation (20 stocks)
Standard & Poor's Corporation, 1941-43=10 unless otherwise indicated: §
Combined index (500 Stocks)
Industrial, total (400 Stocks) #
Capital goods
Consumer goods
Utilities (40 Stocks)
Transportation (20 Stocks), 1982=100
Railroads
Financial (40 Stocks), 1970=10
(subcategories in 1941 -43-1 0)
Money center banks
Major regional banks
Property-Casualty Insurance
N.Y. Stock Exchange common stock indexes,
12/31/65=50:
Composite
Industrial
Transportation
Utility
Finance
NASDAQ over-the-counter price indexes:
Composite 2/5/71=100
Industrial
Insurance
Bank
NASDAQ/NMS composite, 7/10/84=100
Industrial
Yields (Standard & Poor's Corp.), percent
Composite (500 stocks) 0
Industrials (400 stocks)
Utilities (40 stocks)
Transportation (20 stocks)
Financial (40 stocks)
Preferred stocks 10 high-grade
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 stock sales (sales effected) millions
NASDAQ over-the-counter:
Market value mil $
Shares sold millions
Shares listed, NYSE, end of period:
bil. $
Market value all listed shares, bil.
Number of shares listed millions
.. .
977
923
945
942
916
903
899
893
875
864
875
881
877
871
863
844
932
956
982
1036
877
905
930
980
901
928
955
996
900
925
951
989
875
899
926
965
861
886
9 11
951
855
883
908
949
848
878
901
945
831
861
882
926
820
851
872
913
829
869
883
923
835
873
889
925
833
869
887
921
828
863
881
913
822
856
870
905
807
837
849
884
977
9.76
925
921
946
944
942
940
916
916
902
903
898
8.99
893
893
874
876
861
867
873
877
877
884
875
879
870
872
861
864
842
8.46
731
7.25
874
690
7.45
816
713
7.09
854
700
7.03
850
685
6.89
817
673
6.80
796
669
6.59
788
678
6.64
783
658
6.63
758
665
6.41
748
674
6.67
778
677
6.69
793
669
6.64
788
658
6.57
780
642
6.50
772
589
6.12
740
965.24
2,678.94
211 53
1,040.24
1 048 27
2,929.32
21032
1,17022
334.59
390.88
282.47
43392
140.16
254.32
202.85
376.17
44581
300.66
54404
141 95
288.54
24819
378.29
45087
309.36
54025
13573
296.23
24613
380.23
45338
306.25
54798
13775
294.32
24747
389.40
46326
309.28
57651
14088
295.57
25897
387.20
459.11
303.57
56752
142.84
295.12
264.41
386.88
457.39
300.65
56488
144.54
314.42
290.59
385.92
45497
294.10
56832
146.66
315.86
293.12
388.51
45800
290.14
59637
14881
312.73
291 18
416.08
49337
320.61
63283
14970
340.35
30220
412.56
49089
32278
63066
14306
348.31
30454
407.36
48486
317.67
621 24
13945
346.73
29838
407.41
48453
312.79
61742
141.61
344.98
31339
414.81
490.72
319.45
61826
147.25
356.62
335.10
408.27
481 96
312.12
59889
146.79
342.07
322.35
415.05
487.16
309.35
61731
153.70
334.44
315.56
2612
8550
95.53
342.56
2969
9036
114.67
379.58
3018
9436
118.00
384.04
2989
91 89
116.79
387.98
31 48
9894
129.37
369.58
31 43
9757
125.96
360.16
31 27
9910
126.29
361.93
31 22
9641
125.65
376.83
31 21
9272
127.76
392.32
3436
10513
141.08
412.66
3434
11059
145.83
401 .84
3429
10884
145.11
391.26
3394
10728
146.09
385.42
3517
11736
154.88
383.81
3490
11536
150.34
390.63
3618
118.86
153.07
415.77
183.46
225.78
158.62
9060
133.26
20548
257.09
173.97
9226
15018
20731
261.16
177.04
8900
152.31
20829
26248
177.15
9005
151 59
21333
268.21
178.51
9238
157.69
212.54
266.21
177.99
93.71
157.68
213.09
265.68
195.74
95.24
158.94
21325
264.88
188.52
9677
159.77
21432
266.09
185.68
9320
16004
22933
286.62
201.55
9930
174.49
22811
28609
205.52
9617
17404
22521
282.35
204.09
9415
17349
224.54
281.60
201.28
9491
171.05
228.54
285.16
207.87
9823
175.89
224.67
279.53
202.02
9722
174.82
228.16
281 .90
198.36
101 17
180.92
40921
43057
471 43
31903
179.36
17017
491 56
54948
53565
31934
217.09
21825
49038
54584
54664
32937
216.34
21740
48934
54401
541 50
32418
215.87
21661
51325
57078
54298
33954
226.77
22768
52056
58235
53878
34202
229.72
231 95
528.92
59357
531.88
33782
233.23
23618
53658
60436
55699
32883
236.64
24047
54410
61710
561 90
32663
240.48
23499
61573
70759
61722
36812
272.66
301 41
63205
72385
62469
38575
279.32
28905
61960
701 75
61756
39351
273.67
28000
58279
64291
60057
40224
257.56
25679
581.47
63097
614.90
42879
257.43
25257
56666
60848
615.17
43601
250.86
24357
361
316
591
256
4.82
896
324
282
595
230
3.69
817
323
279
623
224
3.68
826
320
276
611
226
3.70
815
310
267
599
219
3.45
803
315
273
595
219
3.48
7.81
3.14
274
587
207
3.38
7.93
315
275
580
209
3.28
7.81
311
273
571
208
3.21
762
290
255
572
1 93
2.74
7.54
294
258
599
1 90
2.85
754
301
263
616
1 94
2.92
7.64
3.02
263
608
1.94
2.99
7.75
2.99
263
5.80
1.87
2.94
7.61
3.06
269
5.84
1.97
3.00
7.53
1,611,667
53338
1 ,776,305
58031
138,210
4,286
134,465
4353
156,668
4,923
127,651
4,085
152,760
4,971
157,817
5,071
154,862
5,391
213,054
6,915
177,051
5,507
172,592
5,529
170,536
5,127
160,568
4,802
164,313
5,080
1 ,389 084
43,826
1,531 813
47,674
120,260
3,548
116,659
3,610
133,673
4,010
110,065
3,346
132,782
4,127
136,256
4,175
133,722
4,351
182,510
5,440
152,516
4,434
149,951
4,386
147,607
4,227
138,059
3,926
143,429
4,240
1 062 35 1 060 65 1 069 71 1,067.44 1 ,087.94 1 082 22 1 077 52
2968.13 2,978.18 3 006.08 3,010.35 3,019.73 2,986.12 2,958 64
21354
19964
20442
21667
21927
20462
20803
1 205.08 1,20456 1 204.66 1,182.39 1 ,283.07 1,237.09 1,23331
1 16627 1 17423 1 16958 1 167.58 1,195.56- 1,174.92 1,170.50
3 227.06 3,257 27 3 247.41 3,294.08 3,376.78 3,337.79 3,329.40
20607
21907
20684
21315
21572
21246
20438
1 378 73 1,41223 1 408 98 1 ,356.85 1 ,380.45 1 ,333.28 1,303.10
39,665
45,267
3,259
3,458
3,773
3,247
4,085
3,727
4,156
5,268
4,292
4,082
4,320
3,666
4,296
377 468
27894
693 854
41 264
46976
2854
50781
3098
57699
3346
55,614
3233
72688
4078
64967
3708
64893
3632
108835
5509
79986
4264
73400
4045
78144
3942
57,296
3126
64635
3591
2,819.78
90732
90,732
3,712.84
99622
99,622
3,216.19 3,381.44 3,455.05 3,400.30 3,470.09 3,352.40 3,712.84
96174
96,174
97,412
99622
96,221
96,519
98,683
99,622
94821
94,821
3,664.00 3,718.28 3,654.92 3,742.72
100,117 101,214
101 214 102,450 103,269
VALUE OF EXPORTS
393,592.3
421,730.0
112,974.6
98,026.8
10,448.3
13,652.2
18,693.3
7,987.3
13,015.8
23,484.1
4,262.6
3,087.7
118,723.3
103,208.5
10,790.8
15,365.4
21,316.5
8,578.5
13,528.1
22,063.4
4,785.5
3,577.6
35,479.8 33,443.9 33,632.7 34,391.3 37,896.5 36,969.6 34,996.1
34,715.3 35,189.7 34,464.2 35,282.7 36,842.1 37,269.0 36,053.0
9,786.2 8,984.9 8,626.4 9,201.0 10,182.2 9,978.0 10,178.0
8,620.7 7,956.2 7,514.3 7,927.5 8,828.1 8,678.3 8,784.4
918.0
832.7
879.2
869.1
748.2
863.7
792.7
1,180.5 1,238.1 1,115.2 1 ,302.1 1,176.1 1,285.6 1,326.6
1,788.5 1 ,940.9 1,511.6 1,625.6 1,621.8 1,740.3 1,791.7
924.4
570.9
624.0
682.5
752.2
787.5
580.3
888.4
861.3 1,364.0 1,275.3
1,275.5
982.8
929.9
1,997.7 1,579.1 1,727.2 1,628.6 2,161.0 1,753.5 1,697.6
321.7
362.1
419.6
278.7
593.6
494.0
260.8
268.4
233.8
503.0
357.3
324.8
117.0
203.7
4,274
3,782.33 3,712.82 3,870.96
107,148 110,121 111,389
1 1 1 389
7. FOREIGN TRADE OF THE UNITED STATES
[Millions of dollars]
Exports (mdse ) incl reexports total @
Seasonally adjusted
Western Europe
European Economic Community
Belgium and Luxembourg
France
Federal Republic of Germany
Italy
Netherlands
United Kingdom
Eastern Europe
USSR (former)
See footnotes at end of tables.
7.47
34,468.8 36,859.8 39,784.3 37,172.7 '36,695.9 39,174.4
35,467.1 37,654.4 37,084.7 36,405.8 r 35,71 7.9 38,284.5
9,562.0 10,791.5 1 1 ,455.0 9,901.2 9,648.9 9,484.5
8,542.9 9,373.7 10,201.3 8,776.5 8,523.7 8,215.4
832.4
864.6
824.3
766.7
926.1
793.0
1,188.1 1,423.7 1,532.0 1 ,280.5 1,213.9 1,151.8
1,614.7
1,765.9 1,962.4 2,050.8 1,771.3 1,824.3
880.4
762.2
838.0
740.0
705.6
772.9
1,163.9 1,523.1 1,231.4 1,114.8 1,020.6 1,050.8
1,794.6 1,903.0 2,342.4 1,986.3 1,918.4 1,815.2
341.4
485.9
320.0
418.9
502.1
415.2
220.0
299.6
241.7
287.3
290.5
'393.3
August 1992 •
SURVEY OF CURRENT BUSINESS
Unless otherwise stated in footnotes below, data
through 1991 and methodological notes are as
shown in BUSINESS STATISTICS, 1953-91
Annual
1990
1992
1991
June
1991
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
69492
4432
70277
4603
3200 1
3902
81950
4546
35296
4938
78472
3854
35099
4753
4705
6589
44170
1 2025
6378
43524
1 3834
621 1
6106
6760
7649
1 2096
5866
6708
35661
1,093.2
8096
7328
May
June
7. FOREIGN TRADE OF THE UNITED STATES-Continued
VALUE OF EXPORTS-Continued
[Millions of dollars]
Exports (mdse.), incl. reexports—Contintied
Western Hemisphere:
Canada 0
Brazil
Mexico
Venezuela
Asia:
China
Hong Kong
japan
Republic of Korea
Saudi Arabia
Singapore
Taiwan
83 865 5
5061 9
28 375 3
851025
7451 4
61541
33 275 6
31072
46682
4657
28664
4245
48072
68406
62868
81405
481465
15,518.4
65722
88078
13191.1
48 584 8
14,398.7
40348
80191
1 1 482.3
64736
5378
29229
4164
5058
5385
5806
6104
1 173.5
3851 3
1 281.6
4922
4972
9144
1 183.8
6661
1 1713
39588
67636
6197
28428
3703
74458
6934
27402
4076
82825
4888
32235
4429
4708
7574
5709
6444
42170
1,265.1
5662
6923
9978
560 1
7887
4 020.8
1,163.0
4822
5928
1 205.8
3661 7
1,256.4
6289
6484
1,120.3
70448
61249
6172
6176
30602
4507
29088
3850
3071 8
621 5
7450
43481
5806
6838
36020
1 403.1
1 321.1
6097
7054
6760
7032
12375
5032
6298
36608
1 4734
6477
6483
1 0297
1 144.8
3574
1 141 1
6691
1 ,296 3
'76660
4307
33863
4548
83743
5942
34960
4975
613 1
6968
8308
41638
1,357.0
7042
36661
1 ,288 2
5359
7922
12980
7291
1 061 4
1 304.6
Africa:
Nigeria
Republic of South Africa
1 732.4
8329
20863
2703
1452
173.8
1052
1700
1421
1585
1488
1352
1006
1341
1801
141 8
1630
1953
Australia
85347
84162
7391
7567
7268
7670
861 4
8069
6754
6073
6070
6463
6247
7987
8254
20977
1 7772
1 971 5
35,352.9 '34,883.7
37,275.0
OPEC
Exports of U.S. merchandise, total @
By commodity groups and principal commodities:
Agricultural products, total
Nonagricultural products total
Food and live animals #
Beverages and tobacco
Crude materials inedible exc fuels #
Mineral fuels lubricants, etc. #
Oils and fats, animal and vegetable
Chemicals
Manufactured goods class, chiefly by material
Miscellaneous manufactured articles
Machinery and transport equipment total
Motor vehicles and parts
551 5
857
682
634
674
979
647
670
708
136787
190835
1 5432
1 6369
1 4484
1 7401
1 7770
1 7801
1 861 3
1 8380
1 7897
1 8434
375,454.2
400,839.1
33,869.6
31,887.0
31,906.2
32,700.4
35,972.8
34,654.6
33,333.0
32,766.9
35,075.3
37,748.7
38 783.4
38 462 7
362 379 8
29 555 0
25864
28665
31 1598
29 035 9
21047
24624
67503
461.1
25 462 0
1 9808
9248
451 8
1 861 8
2788.0
289101
2 476.8
498.3
341 9140
29 280.0
7118.6
269849
121748
1,190.6
120332
1,147.1
38 983 3
42 966 7
31,670.3
39,285.3
172521 9
26 656 3
35,566.0
43,162.2
1873599
281751
495,310.5
487,129.0
67.8
34397
3,059.7
3,683.3
167329
25694
975
896
28030
33301
39547
38397
35920
37864
36749
36343
30841
31549
32 258 7
31 243 2
29 729 7
29 305 8
31 2142
33 965 0
31 697 0
31 565 7
34 120 1
2,435.5
26934
28643
26420
4945
23289
1 0544
24421
4543
22179
1 0008
29597
5093
22605
28731
5796
22528
24052
5645
118.9
8170
113.4
25791
5809
1 9684
9597
103.4
3291 9
8641
122.7
27777
5067
20361
9235
35941
2,946.5
3,709.4
148236
1 9970
34669
2,895.1
3,822.1
167136
25435
38073
3,157.2
4,354.3
1 8177
451.7
1 711 9
9560
8928
126.8
99.3
110.6
34695
3,065.0
3,498.3
143027
1 9889
822
29 972 6
9706
34552
2,960.6
3,519.4
147028
1 9938
601 6
561 6
1 9782
9794
22308
1 0075
87.4
117.7
33203
2,975.0
3,657.3
158772
25300
37541
3,182.6
4,009.0
168459
27872
34088
2,905.0
3,761.1
169165
25556
2,682.1
3,627.3
158335
2 1237
18301 9
28744
107.4
3751 1
3,073.7
3,930.3
168164
29567
1 9159
9466
118.2
38730
3,058.6
3,973.2
163508
122.1
2951 2
40069
3,129.5
4,222.5
183150
29633
VALUE OF IMPORTS
[Millions of dollars]
General imports, total @
Seasonally adjusted
Western Europe
European Economic Community
Belgium and Luxembourg
France
Federal Republic of Germany ....
Italy
Netherlands
United Kingdom
Eastern Europe
USSR (former)
Western Hemisphere:
Canada
Brazil
Mexico
Venezuela
Asia:
China
39,343.7
41 ,296.8
41,029.9
41,477.8
40,758.3
39,867.2
39,099.4
43,252.1
42,877.9 '42,084.6
45,653.7
40 823 4
41 078 2
41 757 3
46,466.0
427122
41,777.9
39 383 8
41 382 4
41 674 5
41 265 9
40 948 3
42 668 3
43 469 0 '428592
44 875 9
89991
7,750.6
7917.9
6,866.2
82637
6,930.9
3397
1 0039
22176
9928
3653
78676
6,666.0
81632
6,900.7
217.3
96596
8,094.5
4458
90666
7,620.4
421 7
1 3181
7,921.7
6,520.9
300.0
301 9
381 3
1 0767
20004
1 0829
20276
877.5
3677
1 5382
91896
7,747.3
3359
1 2490
23968
1,084.2
108901 1
91,867.5
4 578.5
131240
28108.7
12723.3
1025965
86,480.9
41387
133721
262293
80531
6,751.9
3005
1 1508
1 9171
21535
1 1 787 4
9683
1 134.7
4971 9
20 288 2
48270
185196
3351
1 4760
4322
1 6026
22752
1 0654
1 8098
91 372.1
91,141 1
67268
7,893 1
31 1943
25695
5923
79764
301723
94464
957
239
8129
82284
5100
1 0185
1 1533
1 ,963.1
755.9
3782
1,5100
2,460 5
1 ,055.9
5340
1 6870
1598
82.7
1153
1603
131 5
382
781
475
674
7,480.0
5287
2 660.4
6469
7,718.8
4948
2,683 5
7393
8,592.8
5183
3161 2
7,972.1
6497
27874
6706
741 3
1 867.3
8550
77574
1 486.9
1 029.0
793.6
1 ,932.3
8860
78442
1 ,443.2
939.8
1 961 8
918.3
22222
1 0388
88553
1,571.1
8850
937.6
21139
21490
2211 9
844
6914.1
5859
24731
787 1
1 8153
3126
1 0284
1 975.6
1 ,064.3
5036
1 475.4
1742
1 421 6
1 2627
23955
1 009.0
4503
1 5687
861.1
3629
1 511 7
92906
7,862.8
361 3
1 4392
2,486.9
957.3
441 8
3691
1 5744
1,576.3
1560
1975
100 2
1295
446
502
1408
55.3
7,040.2
5368
24081
6589
7,137.5
6229
24930
7688.3
6263
26152
5349
8,659.8
6246
29391
5995
1 608.6
7434
80638
1 9038
1 703.9
6374
73835
1 ,436 8
1659
1
571 9
86825
7.303.3
375.5
1 0440
2,285 2
913.6
481 0
1 ,599 9
1252
95744
8,126.7
404.5
1 3170
2 333.0
1,168.2
4421
1 ,773.9
1566
421
580
8,457.1
5820
2,933.3
5545
8,502.4
6826
2,951.9
5935
8,814.9
1,837.2
1 921 1
1,678.1
6669
7,776.1
1,3222
759.5
838.8
1 8895
20246
2,165.3
8462
7,548.9
1 4290
1,071.3
1,029.3
21080
573.6
701 3
3,161 8
6839
99743
9,839.4
226668
23 036 3
1 5283
7367
71900
1 3706
8332
895.9
1 8765
Africa:
Nigeria
Republic of South Africa
5,977.2
1 700.6
5,360.1
1,733.3
476.1
149.5
501.7
153.1
504.5
380.0
456.4
394.5
305.5
340.6
454.6
538.3
116.4
152.5
107.9
116.6
116.7
142.9
119.7
266.6
137.0
129.1
153.2
137.2
176.6
Australia
4441 7
40100
3975
3405
337.4
380.6
311 1
3042
285.5
364.6
263.7
300.6
349.4
289.2
326.8
38017.0
32,960 6
2,572.6
2,718.3
2,858.1
2,781 .9
2,901.6
2,634.5
2,532.5
2,573.1
2,155.2
2,260.6
2,398.6
2,617.5
3,075.6
61 356 8
433 902 6
21 932 5
21 952 3
1 8626
3688
1 7246
3945
1 678.4
4158
1 077 1
1,959.1
3630
1,811.0
3496
2,021.9
3756
2,050.2
4093
1 ,834.3
4656
1 091 5
1 1790
1 1858
1 1632
6147
1 1883
43374
42896
4890.4
1,764.0
5530
1 0957
4,524.1
1,900.2
1 1326
1 ,743.7
3937
1 0803
4,631.5
1 ,804.3
1 1206
4,220.2
4,467.9
4,980.0
Japan
Republic of Korea
Saudi Arabia
Singapore
Taiwan
OPEC
By commodity groups and principal commodities:
Petroleum and products
Nonpetroleum products
Food and live animals #
Beveraoes and tobacco
Crude materials inedible exc fuels #
Mineral fuels lubricants etc
Oils and fats animal and veoetable
Chemicals
Manufactured goods class, chiefly by material
Machinery and transport equipment
Motor vehicles and parts
152238
94880
189758
92864
89 655 1
18 493 3
91 582 7
170245
109782
9,976.3
8023
224682
59,914.2
48226
130790
543427
8567
241687
57,418.9
81 477 6
208 095 7
69 382 1
83 389 6
21 0 786 5
67 525 4
4633 1
145240
64 561 5
9096
76487
1 6247
8322
797.3
20652
8757
7761 3
8431
1 4179
815.2
74774
1 3683
896.7
• 1 985 5
926.3
20067
20157
1 4596
8051
905.2
421 1
4531
1 0578
4,292.8
1 0332
4,285.0
859.1
1 119 1
3,992.2
1 181 3
764.1
708.3
1 7850
3,489.9
5926
83380
1 3139
7559
957.9
3,748.3
7195
7,161.2
1 3358
811.2
848.1
1,930.6
690
764
624
71 3
81 9
724
701
706
654
874
868
744
1 9527
4,552.0
65988
20750
5,140.3
79335
171855
49805
1 918.4
1,937.5
4,638.2
77168
178528
5,7185
2,250.0
5,357.3
8962 1
1 ,870 3
2 243.3
4,731.3
2 150.9
4,725.5
2,362.7
5,014.4
20 455 4
6981 7
182873
60794
22021
4,501.4
69198
182333
57683
2,345.7
5,035.1
68251
190401
6,128.5
2,134.9
5,060.4
70265
183426
5,973.7
2,329.2
5,142.9
81392
195944
5,829.4
-65 399 0 -3 863 9 -7 852 9 -7 397.2 -7,086.5 -8,569.5 -4,808.3
-46685 -5 633 6 -6,614.0 -6,474.6 -5,870.1 -4,113.4
-3,467.8 -5,705.2 '-5,388.7
-5,583.6 -7,063.2 ' 7,141.3
-6,479.3
-6,591.4
17 1576
54270
4,590.0
75255
174890
5622 0
7551 2
5431 0
4,463.6
67578
171994
55234
-5,762.2
-5,621.5
-5,398.4
-5,798.7
-2,239.6
-3,293.8
'-5.45
r
33.79
39.24
'-5.77
r
33.35
'39.12
7051 2
169534
7071 6
197166
6,331 9
1027
MERCHANDISE TRADE BALANCE
[Millions of dollars]
Trade balance:
Not seasonally adjusted
Seasonally adjusted
-101 7182
[Billions of 1987 dollars]
Seasonally adjusted:
Trade balance
F_xports
Imports
See footnotes at end of tables.
'-8489
r
365.65
r
450 55
r
r
r
r
r
r
r
r
-59 81
393.1 5
452 96
-463
32.32
3695
r
-559
32.95
38.53
r
-643
-32.34
r
38.77
'-€20
r
r
'34.35
r
39.84
r
S-17
33.06
39.26
549
'-393
r
r
34.79
38.72
v
r
-3.50
'35.30
'38.81
r
-5.90
34.74
40.64
r
r
'-7.12
'34.28
'41.40
'-7.09
'33.69
'40.77
-6.23
36.09
42.32
July
SURVEY OF CURRENT BUSINESS
S-18 • August 1992
Unless otherwise stated in footnotes below, data
through 1991 and methodological notes are as shown
in BUSINESS STATISTICS, 1953-91
Annual
1990
1991
June
1991
| July
Aug.
1992
Sept.
Oct.
Nov.
Dec.
| Feb.
Jan.
|
Mar.
Apr. | May
June | July
7. FOREIGN TRADE OF THE UNITED STATES-Continued
Export and Import Price Indexes
[1985=100]
All exports
Agricultural exports
Nonagricultural exports
All imports
Petroleum imports
Nonpetroleum imports
Shipping Weight and Value
Waterborne trade:
Exports (incl. reexports):
Shipping weight thous metric tons
Value m/7 $
General imports:
Shipping weight thous metric tons
Value mil. $
1138
1088
1149
1147
107.0
116 1
1147
1079
1160
1139
103.8
1157
1143
1071
1155
1142
1058
1156
1150
1095
1159
1224
1220
1223
1233
1151
1092
1161
1144
1062
1158
1139
1052
1153
1147
1085
1157
1147
1085
1157
1238
1235
1232
1233
1231
1146
^068
1159
1150
1070
1163
1151
1076
1163
1151
1063
1166
1226
1233
1246
1252
874
762
732
688
727
727
743
674
655
667
685
738
787
789
131.6
131 1
121 6
71 9
130.5
748
1295
1304
130.7
131 4
1317
1323
1331
1336
1331
1323
1320
132.7
1334
372 052
150737
389 562
162346
29658
12657
32275
13163
32972
12866
32171
12658
33234
14178
36101
13770
35172
14302
32709
13388
31 791
13944
31 140
14682
32230
14216
495 239
283 392
448 852
272 286
38454
21875
41 033
23556
41 121
23503
40052
23269
37975
25775
34168
22866
37444
22,987
37632
23117
32743
21 217
36593
22670
38135
23280
1232
1337
8. TRANSPORTATION AND COMMUNICATION
TRANSPORTATION
Air Carriers
Certificated route carriers:
Passenger-miles (revenue) billions
Passenger-load factor, percent
Ton-miles (revenue), total, millions
Operating revenues (quarterly), mil. $ §
Passenger revenues, m/7. $
Cargo revenues, mil. $
Mail revenues, mil. $
Operating expenses (quarterly), mil. $ §
Net income after taxes (quarterly), mil. $ §
Domestic operations:
Passenger-miles (revenue), billions
Cargo ton-miles, millions
Mail ton-miles, millions
Operating revenues (quarterly), mil. $ §
Operating expenses (quarterly), m/7. $ §
Net income after taxes (quarterly), mil. $ §
International operations:
Passenger-miles (revenue), b/7//ons
Cargo ton-miles, millions
Mail ton-miles, millions
Operating revenues (quarterly), mil. $ §
Operating expenses (quarterly), mil. $ §
Net income after taxes (quarterly), mil. $ §
Urban Transit Industry
Passengers carried total, millions
Motor Carriers
Carriers of property, large, class I, qtrly.:
Number of reporting carriers, number
Operating revenues, total mil $ ....
Net income, after extraordinary and prior period
charges and credits m/7 $
Tonnage hauled (revenue), common and contract
carrier service mil tons
Freight carried—volume indexes, class I and II intercity truck tonnage (ATA):
Common carriers of general freight, seas, adj.,
1967-100
Class I Railroads |
Financial operations, quarterly (AAR), excluding Amtrak:
Operating revenues, total, m/7. $#
Freight mil $
Passenger excl Amtrak mil $
Operating expenses m/7 $
Net railway operating income mil $
Ordinary income m/7 $ t
Traffic:
Revenue ton-miles qtrly (AAR) billions
Producer Price Index, line haul operations, 12/
84=100
Travel
Lodging industry:
Restaurant sales index same month 1967=100
Hotels* Average room sale dollars 0
Rooms occupied % of total
Motor hotels' Average room sale dollars 0
Rooms occupied % of total
Economy hotels' Average room sale dollars 0
Rooms occupied % of total
Foreign travel:
U.S. citizens: Arrivals (quarterly), thousands
Departures (quarterly), thousands
Aliens' Arrivals (quarterly) thousands
Departures (quarterly), thousands
Passports issued, thousands
National parks, recreation visits, thousands ##
See footnotes at end of tables.
457.93
62.4
58,342
75,984
58,430
5,432
970
77,898
-3,995
447.80
62.6
56,889
75,023
57,055
5,508
944
76,815
-1,986
40.84
66.7
5,101
19,019
14,458
1,311
224
18,921
356
44.03
68.0
5,426
46.75
71.2
5,728
36.94
61.2
4,702
20013
15,638
1 421
217
19689
-135
38.08
61.7
4,958
33.78
58.4
4,479
37.48
62.5
4,798
18409
14,064
1 497
258
19,243
-877
34.04
56.5
4,343
32.58
57.4
4,211
38.26
62.5
4,922
18,830
14,550
1,391
276
19,292
-593
36.08
60.0
4,667
38.55
61.7
4,929
340.23
5,075
1,489
57,994
58,983
-3,411
332.41
4,946
1,411
56,165
56,691
-1,271
29.58
424
108
14,289
14,069
166
31.63
412
106
33.05
439
115
25.76
418
104
14360
14 144
-168
27.66
477
123
24.98
444
120
28:12
398
166
13,996
14,220
-537
24.50
383
126
23.84
391
118
28.00
434
127
14,313
14,249
-48
26.38
428
130
27.84
435
122
117.70
5,471
513
17,990
18,914
-584
115.39
5,259
493
18,858
20,124
-715
11.26
446
39
4,729
4,853
191
12.41
466
38
13.70
458
42
11.18
446
39
5,653
5,545
32
10.42
507
43
8.80
488
49
9.35
427
60
4,413
5,022
-340
9.54
390
39
8.74
407
37
10.26
496
39
4,518
5,043
-545
9.70
463
39
10.71
480
38
8,671
8,484
676
668
674
681
766
698
675
680
649
715
100
21,810
100
22,091
100
5,446
100
5,777
442
314
118
143
58
82
172
178
46
45
47
47
174.8
182.1
176.2
27,61 6
'94
'24,736
'2,676
'1,953
27,845
26,949
94
28,062
-38
-92
6,842
6,617
24
6,659
155
76
7093
6,870
24
6,763
253
148
7133
6908
24
8452
-826
-745
1,034.0
1,039.8 '
251.7
266.0
267.0
1
28,51 6
1
188.0
189.5
188.2
100
5,840
189.6
189.4
185.0
100
5,553
196.0
198.3
193.9
202.8
r
202.6
201.9
7049
6,831
23
6158
595
587
265.3
107.5
109.3
109.5
109.6
109.3
109.2
109.3
109.4
109.3
109.5
109.9
'19,505
1
19,022
'16908
'15,024
3,689
56,948
3,376
56,750
329
7,339
315
10,624
249
10,606
249
6,686
293
4,913
359
2,070
204
1,565
248
1,594
275
1,715
r
260.4
2
79.4
109.9
109.9
109.7
109.8
109.8
340
2,325
347
3,205
313
4,843
367
6,844
308
August 1992 •
SURVEY OF CURRENT BUSINESS
Anr ual
Unless otherwise stated in footnotes below, data
in BUSINESS STATISTICS, 1963-91
1990
1992
1991
1991
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
8. TRANSF'ORTAT ON AND COMM JNICATION-Co ntinued
COMMUNICATION
Telephone carriers:
Operating revenues, m/7. $#
Station revenues mil $
Tolls, message, mil. $
Operating expenses (excluding taxes) m/7 $ ...
Net operating income (after taxes), mil. $
Access lines millions
9. CHEMICALS AND ALLIED PRODUCTS
CHEMICALS
inorganic Chemicals
[Thousands of short tons, unless otherwise indicated]
Production:
Aluminum sulfate commercial (17% AI203) . .
Chlorine gas (100% CI2)
Hydrochloric acid (100% HCI)
Phosphorus elemental
Sodium hydroxide (100% NaOH)
Sodium silicate, anhydrous
Sodium sulfate (100% Na2S04)
Sodium tripolyphosphate (100% Na5P3Oi0)
Titanium dioxide (composite and pure)
Sulfur, native (Frasch) and recovered:
Production thous metric tons .
Stocks (producers') end of period, thous. metric
tons
1227
11 810
3013
346
12030
879
786
532
1 077
1 180
11 324
2799
312
12197
993
768
1 093
299
287
2849
724
70
3044
214
170
(4)
291
319
2268
728
72
2715
638
80
2946
211
171
118
269
3129
243
180
(4)
10262
9494
800
837
1 423
1 499
1 481
1 460
16,958
7,107
2495
7,749
2853
12,175
44,281
17020
7,310
2230
7524
12342
43,308
4,419
1,903
592
1,936
829
3048
10,610
18887
738
5700
19418
689
5460
4813
5207
147,840
749 525
462,293
4567
141 844
786 727
471 216
1 132
36,261
196735
118,588
778
1257
273
771
1470
(2)
2699
655
76
2918
223
168
(4)
279
760
754
791
818
748
797
748
803
1 415
1 302
1 499
1 184
1 209
1 130
1 061
1 035
779
848
26.9
23.6
Inorganic Fertilizer Materials
[Thousands of short tons, unless otherwise indicated]
Production:
Ammonia synthetic anhydrous
Ammonium nitrate, original solution
Ammonium sulfate
Nitric acid (100% HN03)
Nitrogen solutions (100% N)
Phosphoric acid (100% PA)
•Sulfuric acid (100% H2S04)
Superphosphate and other phosphatic fertilizers
Production
Stocks end of period
Potash sales (K20)
Imports:
Ammonium nitrate thous metric tons
Ammonium sulfate thous metric tons .
Potassium chloride thous metric tons
Sodium nitrate thous metric tons
3137
620
227
236
687
4212
4176
1,735
537
1 807
743
1,770
543
1 801
758
4592
1,836
569
1 915
764
3119
3145
3231
11,025
10,916
11,093
4889
686
346
4915
388
304
701
454
680
406
5009
700
526
Industrial Gases
[Millions of cubic feet]
Production:
Acetylene
Hydrogen (high and low purity)
Nitrogen (high and low purity)
Oxygen (high and low purity)
Organic Chemicals §
[Thousands of metric tons, unless otherwise indicated]
Production:
Acetylsalicylic acid (aspirin)
Ethyl acetate
Formaldehyde (37% HCHOJ
Glycerin refined all grades, mil Ib 0
Methanol synthetic
Phthalic anhydride
y
128
;
194
1
1 124 3
126 1
'29085 '29137
298.1
286.5
;
;
3 622 2 39253
1
M267
396 3
1 187
35,776
196110
117,003
1 109
34,981
195905
116404
(3)
21 0
7048
71.6
1 1073
965
1 216
39,1 1 1
196645
120,764
(3)
327
741 6
299
7795
77.6
69.2
9826
999
9956
801 5
1033
1023
3
(3)
57
337
7725
27.5
29.0
28.9
ALCOHOL
Ethyl alcohol and spirits:
Production mil tax gal
Stocks end of period mil tax gal
Denatured alcohol:
Production mil wine gal
Consumption (withdrawals) m/7 W'IFIB gal
For fuel use m/7 wine gal
Stocks end of period m/7 wine gal
See footnotes at end of tables.
1 1073
368
1 1988
374
902
532
91 8
587
996
496
5949
6457
2979
172
6649
7027
3546
88
569
607
327
198
51 9
530
307
112
562
770
31 2
121
1000
36.3
583
601
328
96
S-19
1069
32.6
101 9
111 4
36.2
37.4
59.6
556
569
31 5
91
62.3
481
20.3
103
61 2
330
88
111 7
391
1055
27.8
1156
392
1095
37.3
661
61 8
336
123
47.7
61.7
54.2
398
123
151
61 3
31 5
192
506
273
199
June
July
SURVEY OF CURRENT BUSINESS
S-20 • August 1992
Unless otherwise stated in footnotes below, data
through 1991 and methodological notes are as
shown in BUSINESS STATISTICS, 103-91
1991
Annual
1990
1991
June
|
July
Aug.
Sept.
1992
Oct.
| Nov. | Dec.
Mar.
| Feb.
Jan.
Apr.
9. CHEMICALS AND ALLIED PRODUCTS-Continued
PLASTICS AND RESIN MATERIALS
[Thousands of metric tons]
Production:
Phenolic resins
Polyethylene and copolymers
Polypropylene
Polystyrene and copolymers
Polyvinyl chloride and copolymers
2
943.8
;
85505
'35247
2
4,624.1
1
4,11 2.9
'75140
'33972
1 908 6
8307
1 8253
1 giso
8592
1 7676
8851
'3,977.4
1,079.8
1 0392
1 0276
1 298.6
11 391 3
4 653.3
4,242.5
24954
31587
1 3892
1,093.4
31230
1 3364
1,093.5
2611 2
9355
1,095.6
27702
1 0664
1,130.7
6761
6931
5801
5731
8143
PAINTS, VARNISH, AND LACQUER
[Millions of dollars]
Total shipments
Architectural coatings
Product coatings (OEM)
Special purpose coatings
11 761 6
48621
4,110.5
27891
10. ELECTRIC POWER AND GAS
ELECTRIC POWER
[Millions of kilowatt-hours, unless otherwise
indicated]
Production:
Electric utilities total
By fuels
By waterpower
Sales to ultimate customers, total (Edison Electric
Institute)
Commercial §
Industrial §
Railways and railroads
Residential or domestic
Street and highway lighting
Other public authorities
Interdepartmental
Revenue from sales to ultimate customers (Edison
Electric Institute) mil $
267818
246,071
21 747
233710
215,283
18428
233585
211710
21 873
243877
222,342
21 535
217756
199798
17958
2808151
2 528 225
279 926
2 823 025
2 547 508
275516
248264
999,433
25830
2 667 321
734 584
926161
5297
910296
14,895
72399
3689
2710674
749 686
921 552
5420
938517
15,204
76713
3,582
649177
182,995
230 832
1 324
210,302
3,543
19338
843
745612
209,303
241 455
1 312
268,941
3,465
20185
950
652 498
180,292
229825
1 348
217,039
4,049
18966
980
666 891
178,371
223865
1 410
239,100
3,984
19,373
787
175503
183361
43874
53094
43 078
44131
54539
50058
4269
165
48
9,846
55442
50,883
4340
171
49
9,937
4639
54634
50,317
4303
164
50
1,767
720
376
356
282
34
7908
4356
1,822
1 042
593
96
54916
50,440
4257
169
50
1,434
389
251
375
388
31
5863
54442
50,883
4340
171
49
2,929
2719
7871
1,218
1 025
831
70
3,158
1 525
649
165
271 787
247 537
24250
223 258
205 720
17538
221 203
202,904
18299
GAS
Total utility gas, quarterly (American Gas Association):
Customers end of period total thousands @
Residential
Commercial
Industrial @
Other
Sales to customers, total, tril. Btu
Residential
Commercial
Industrial
Electric generation
Other
Revenue from sales to customers total mil $
Residential
Commercial
Industrial
Electric generation
Other
4471
2193
1 890
1 120
171
45 174
25014
10,610
6034
2,963
553
2241
1 754
1 122
181
45316
26060
10,802
5372
2,537
545
1447
674
481
274
53
13368
11. FOOD AND KINDRED PRODUCTS; TOBACCO
ALCOHOLIC BEVERAGES
Beer:
Production mil bbl
Taxable withdrawals mil bbl
Stocks end of period mil bbl
Distilled spirits (total):
Production mil tax gal
Consumption, apparent, for beverage purposes mil wine gal
Stocks end of period mil tax gal
Imports mil. proof liters
Whisky:
Production mil tax gal
Stocks end of period mil tax gal
Imports mil proof liters
Wines and distilling materials:
Effervescent wines:
Production mil wine gal
Taxable withdrawals mil wine oal
Stocks end of period mil wine gal
Imports mil liters
Still wines:
Production mil wine gal
Taxable withdrawals, m/7. wine gal
Stocks end of period mil wine gal
Imports, mil. liters
Distilling materials produced at wineries, mil.
wine oal
See footnotes at end of tables.
20365
18451
1268
20219
18099
1264
118.34
37441
42249
1916
1693
1499
7.62
34630
7991
371 60
2877
44008
469
38275
2635
2550
17.60
2276
2380
42715
417.25
57636
39439
376.41
58009
1 68
32.98
52402
10807
11073
1 15
1609
.74
1 69
17.48
1988
1788
1496
16 11
14.51
1665
17.39
15.13
13.42
1427
1403
1375
1323
1863
1447
1364
1284
1264
1565
1378
1329
1610
1360
1600
15.65
1479
1800
1553
1529
9.09
9.58
11.01
1806
14.43
8.52
9.09,
10.23
2680
422.30
30.70
437.39
3316
441 96
28.25
438.74
437.52
3963
40210
2339
43780
2434
43543
43893
44231
460
38276
238
379.44
495
367.58
666
375.75
506
375.33
731
341.87
709
377.29
660
37795
694
" 380.72
618
38075
6.40
2910
3.59
7.93
2.59
2.87
2.59
3.91
2.52
1.02
2.23
1.51
1 10
1 63
20.24
288
2046
443
338
16.30
247
1804
1609
1 08
16.79
1782
1 41
30.16
39436
934
31.29
41534
12830
30.22
51866
13790
32.37
52791
33.37
55464
339
423
3235
3307
1069
1881
6071
3329
32.46
58009
695
33.22
57349
441
702
93
469
30.62
57227
1068
1.91
1.82
1 17
17.67
1 55
22.90
35.17
51682
274
34.75
511 96
408
232
3.33
May
| June
July
SURVEY OF CURRENT BUSINESS
Unless otherwise stated in footnotes below, data
through 1991 and methodological notes are as shown
in BUSINESS STATISTICS, 1953-91
Annual
1990
August 1992 •
1992
1991
1991
June
| July
Aug.
| Sept.
S-21
Oct.
| Nov.
Dec.
Jan.
| Feb. | Mar. | Apr. | May | June | July
11. FOOD AND KINDRED PRODUCTS; TOBACCO-Continued
DAIRY PRODUCTS
Butter:
Production (factory) mil. Ib .
Stocks, cold storage, end of period, mil. Ib
Producer Price Index, 1982=100
Cheese:
Production (factory), total, m/7. Ib
American whole milk m/7 Ib
Stocks, cold storage, end of period, m/7. Ib
American, whole milk, m/7. Ib
Imports thous metric tons
Price, wholesale, Cheddar, single daisies (Chicago),
$ per Ib
Condensed and evaporated milk:
Production case goods m/7 Ib
Stocks, manufacturers', case goods, end of period,
m/7 Ib
Exports thous metric tons
Fluid milk:
Production on farms mil Ib. t
Utilization in manufactured dairy products, mil. Ib. ..
Price, wholesale, U.S. average, $ per 100 Ib
Dry milk:
Production:
Dry whole milk m/7 Ib .
Nonfat dry milk (human food) mil Ib
Stocks, manufacturers', end of period:
Dry whole milk mil Ib
Nonfat dry milk (human food), m/7. Ib
Exports, whole and nonfat (human food); thous.
metric tons
Price, manufacturers' average selling, nonfat dry
milk (human food) $ per Ib
1,302.2
416.1
71.3
1,336.3
539.4
69.5
91.3
662.7
68.1
86.4
659.8
70.4
82.3
629.4
70.4
81.9
597.2
70.4
102.3
567.1
74.0
100.8
543.0
74.4
129.4
539.4
70.3
156.0
568.6
68.1
132.0
630.3
60.6
129.9
655.7
'60.7
119.7
701.7
60.6
118.3
734.1
60.1
103.2
'766.2
55.6
778.1
55.7
6,061.2
2,890.8
457.8
347.2
6,090.8
2,804.9
415.3
317.8
509.0
233.2
521.5
413.8
499.5
228.8
511.5
402.9
498.2
223.7
494.1
392.2
485.0
211.0
477.9
374.0
521.0
226.4
429.3
337.8
502.3
218.3
409.0
319.1
533.7
247.7
415.3
317.8
514.1
245.5
438.8
338.7
497.1
231.3
445.9
348.0
542.7
246.4
449.0
335.5
534.7
244.9
450.0
334.7
550.9
261.8
459.1
343.5
548.0
259.7
'465.2
'343.4
499"0
371.1
602.6
543.1
47.0
42.2
46.8
42.0
46.8
39.1
43.9
46.3
45.5
52.4
54.0
54.7
52.4
58.1
34.7
109.1
110.2
111.1
95.9
66.3
44.2
34.7
50.6
58.7
61.0
60.7
73.8
82.6
125,772
89,998
13.74
125,683
90,451
12.26
10,567
7,687
11.40
10,472
7,481
11.80
10,352
7,253
12.40
9,927
6,786
12.80
10,212
7,245
13.50
9,926
6,725
13.90
10,418
7,602
13.80
10,684
8,162
13.50
10,230
7,620
12.90
11,092
8,244
12.50
10,866
8,045
12.50
11,258
8,376
12.90
175.1
879.2
106.8
877.5
8.4
77.0
9.3
66.9
10.5
54.6
9.8
43.3
11.0
48.7
9.1
53.3
9.0
86.0
10.3
80.2
9.2
78.1
10.7
82.8
11.8
82.2
13.1
89.2
14.5
81.3
11.2
114.6
8.5
61.0
7.0
67.5
6.3
69.8
6.1
68.7
5.6
48.7
6.0
39.6
6.4
36.9
8.5
61.0
7.0
60.8
6.8
64.5
7.2
62.4
8.6
66.2
9.2
76.3
10.9
98.4
.948
.893
'.860
.884
.895
.893
.966
.991
.993
.921
.932
.924
1.011
1.071
1.092
'10,868
10,890
8,235 ....„...„.„..
13.20
GRAIN AND GRAIN PRODUCTS
Exports (barley corn oats rye wheat) mil bu
Barley:
Production (crop estimate), m/7. metric tons
Stocks (domestic), end of period, total, mil. metric
tons
On farms m/7 metric tons
Off farms mil metric tons
Exports including malt thous metric tons §
Producer Price Index, No. 2 feed, Minneapolis,
1982=100
Corn:
Production (crop estimate, grain only), mil. metric
tons
Stocks (domestic), end of period, total, m/7. metric
tons
On farms mil metric tons
Off farms m/7 metric tons
Exports, including meal and flour, m/7. metric tons .
Producer Price Index, No. 2, Chicago, 1982=100 ...
Oats:
Production (crop estimate) mil metric tons
Stocks (domestic), end of period, total, m/7. metric
tons
On farms m/7 metric tons
Off farms mil metric tons
Exports including oatmeal metric tons
Producer Price Index, No. 2, Minneapolis,
1982=100
Rice:
Production (crop estimate) mil metric tons
Southern States mills:
Shipments from mills, milled rice, mil. Ib
Stocks, domestic, rough and cleaned (cleaned
basis) end of period m/7 Ib
Exports thous metric tons
Producer Price Index, medium grain, milled,
1982=100
Rye:
Production (crop estimate), m/7. metric tons
Producer Price Index, No. 2, Minneapolis,
1982 100
Wheat:
ro
es m
rroauciion |« P .| «w,row,
oprng iedi,
.
.
winier wneai, m«. meinc ions
Stocks (domestic), end of period, total, mil. metric
tons
Off f
«' m'\ mptr'r fnn<?
Exoorts total includino flour mil metric tons
See footnotes at end of tables.
2
9.192
2
10.113
^e.ese
6
2
3.841
6
2.816
*7.150
6
4.274
*2.876
117.0
108.3
201 .53
2
176.29
«123.80
6
52.49
6
6
97.0
25 -J89
5
5
96.6
101.9
113.4
117.0
4
2.831
4
.983
1.848
4700
2.221
2.480
112.3
113.9
115.2
4
115.1
117.4
116.9
114.8
115.1
1
5
5
1
1
95.3
90.2
38.64
17.56
21 08
100.4
97.4
97.1
97.5
3
115.85
66.30
49.55
16615
109.09
57.07
95.5
100.8
102.2
107.0
96.4
83.5
69.56
38.55
31 .02
3
3
108.9
102.9
104.6
3 520
5
2.485
1.341
1 144
70.4
76.1
7 080
94.0
7150
4.274
2.876
189.86
2
2
107.1
166.15
6
109.09
6
57.07
100.9
2.278
5
1.203
5
1 075
9.579
5.900
3.678
2
1.839
.885
.954
5
5
68.2
65.5
74.0
71.1
74.5
76.3
78.5
79.2
93.6
91.1
82.1
88.8
88.2
7 006
10,351
6,942
10,150
6,614
373
525
289
451
712
514
2,871
518
1,457
605
779
554
550
542
500
464
672
471
562
569
440
554
514
513
490
475
2,106
1,904
1,041
729
719
2,027
2,277
2,089
1,904
1,788
1,177
1,538
1,249
1,112
970
102.4
110.2
117.1
114.5
108.9
109.5
109.6
111.3
109.4
111.9
112.1
112.4
111.1
104.1
99.7
2
2
61.5
70.3
73.3
83.5
.248
.258
66.5
2
74 47
2
19.20
2
55.27
62.14
2
6
6
51 93
d
20.77
31.16
6
53 91
2
16.56
2
37.34
67.43
3929
6
15.37
6
23.91
87.9
85.0
22.15
16.45
15.48
55.54
22.53
3300
39.29
15.37
23.91
24.15
7.50
16.65
12.89
4
12.85
4
3.94
4
8.92
101.3
S-22 • August 1992
Unless otherwise stated in footnotes below, data
through 1991 and methodological notes are as shown
in BUSINESS STATISTICS, 1953-91
SURVEY OF CURRENT BUSINESS
Annual
1990
1991
June
1991
|
July
1992
Sept.
Aug.
Nov.
Oct.
| Feb.
Jan.
Dec.
Mar.
June
| May
Apr.
|
July
11. FOOD AND KINDRED PRODUCTS; TOBACCO-Continued
GRAIN AND GRAIN PRODUCTS-Continued
Wheat—Continued
Producer Price Indexes:
Hard red winter, No. 1, ord. protein (K.C.),
1982=100
Hard red spring, No. 1, ord. protein (Minn.),
1982=100
Wheat flour:
Production:
Flour thous. sacks (
@FedFRASER