Full text of Survey of Current Business : December 1965

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DECEMBER 1965

12

/ VOLUME 45 NUMBER

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CONTENTS

= ; THE BUSINESS SITUATION

-

'"/ y

'

John T. Connor / Secretary

Summary

1

National Income and Product Tables

3

Unfilled Orders for Durable Goods
Rising Faster Than Sales

5

Acceleration in Business Investment Programs

6

Andrew 'F. Brimmer / Assistant Secretary for Economic Affairs
,

'

• '•• •••

George Jaszi /Director
Morris R. Goldman
Louis J* Paradiso
Associate Directors

Manufacturers * Inventory and Sales
Expectations for Early 1966

10

Murray F. Foss I Editor
Leo V. Bari^y Jr^ ^

' -' ' / . • / ; . ' . ' ; ' ' ".;-.'; ; -•'

• ,,;

. ARTICLES

Billy Jo Hurley / Graphics

U»Si Exports to Foreign Affiliates
•y ;' • . , ' / . . ' " ; • ' . . - : : .' ' '.-•-., ; ' . • ' of U.S. Firms
The Balance of International Payments
During the Third Quarter

12
17

Business Review and Features!
David R, Hull, Jr*
Francis L. Hirt
. „ :. -y;.,'
Genevieve B, Winisatt
Marie P. Hertzberg
Articles:

CURRENT BUSINESS STATISTICS
General

S1-S24

Industry

S24-S40

Subject Index (Inside Back Cover)

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the BUSINESS SITUATION
NUMBER of key measures of ec- $9K billion more than the third quarter
onomic activity showed large gains in rate. Last year, the average quarterly
November, and it seems quite clear that gain in personal income exclusive of
the tempo of the business expansion has
CHART
accelerated this fall. Payrolls advanced sharply for the second straight
Expenditures for New Plant
month, with nonfarm employment and
and Equipment
industrial wage rates reaching new
Businessmen expect second quarter 1966 rate
peaks and average weekly hours of
of expenditures to be 14 percent above
work in manufacturing rising to their
full year 1965
highest level in more than 20 years.
Percent
The Federal Reserve Board Index of
industrial production rose to a new
high in November as output increased
over a wide range of industries and the
decline in steel production nearly ended.
Sales in most final markets this fall
have been very buoyant indeed. Business outlays for new plant and equipment, which advanced $2% billion
(annual rate) in the third quarter, are
scheduled to increase by $2 billion in
the current quarter and in each of the
first two quarters of 1966. Military
expenditures are moving higher. With
incomes up substantially, consumer
expenditures continue to make notable
MANUFACTURING
gains: Retail sales in November were
at a record rate.
~
Ort

¥

on
I

Personal income up

Personal income rose $4)^ billion in
November to a seasonally adjusted
annual rate of $545% billion. The November rise was broadly based and
reflected gains in both private and
government payrolls, farm and nonfarm proprietors7 income, property income, and transfer payments.
The change in personal income that
has already occurred since the third
quarter provides a good indication that
the expansion has accelerated. In October and November, personal income
(excluding transfer payments) averaged




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NONMANUFACTURING
30

_

20

10

0

I

II

III IV

1964

'

I

||

III IV

1965

'

I

||

III

IV

1966

Quarterly Totals, Seasonally Adjusted, at Annual Rates
Last three quarters are anticipated.
Data: OBE-SEC
U.S. Department of Commerce, Office of Business Economics
65-12-1

transfers was $7% billion, and in the
first three quarters of this year, it was
$8 billion.
Payrolls rose more than $3 billion
(annual rate) in November, approximately matching the large increase of
the month before. The recent strong
gains in wage and salary payments
have been due in part to large increases
in employment. In October, seasonally
adjusted employment in nonfarm establishments rose 220,000; the November
rise of nearly 300,000 was the largest
monthly increase so far this year.
Workweek lengthens

A lengthening of the workweek, including overtime, has been another
important factor contributing to the
rise in payrolls this fall. In manufacturing, the workweek averaged about
41 hours in both the second and third
quarters of this year. It advanced to
41.3 hours in October and rose still
further in November to 41.4 hours, the
highest average since the end of World
War II. So far in the fourth quarter,
increases have been large in ordnance,
machinery, transportation equipment,
paper, and rubber. A major departure
from the overall trend appears in
primary metals, where hours in October
and November were at their low for
the year due to reduced steel output.
It is of some significance that both the
length of the workweek and average
overtime hours were even higher this
fall than in the first quarter of the year,
when the auto industry was making
up for production lost in the late-1964
strikes and when steel output was approaching a peak before the expiration
of the old labor contract.
1

SURVEY OF CURRENT BUSINESS
Industrial production higher

fairly narrow range from early 1965
Industrial production rose to a new until late this fall, rose sharply to their
high in November, paced by large in- highest level in more than 5 years,
creases in machinery and equipment Yields on long-term bonds—-U.S. Govindustries, transportation equipment,
and fabricated metal products. Steel
CHART 2
output showed only a small dip, which
17
Corporate Prof its Up Sharply This Year
followed an average decline of 8 percent
per month, seasonally adjusted, in the 3
' Advance has moderated since
first quarter spurt
preceding months. In early December,
steel production appeared to be rising Billion $
80
somewhat.
Steel users still have large inventories
to liquidate, but they appear to be
making good progress in cutting stocks
down. In October, steel inventories
held by manufacturing consumers declined 1.2 million tons. End-of-October
stocks represented 64 days' supply in
terms of the October consumption rate;
Much of the gain over 1964 is in manufacturing,
the corresponding figure a year ago,
especially durable goods . . .
when the steel stockpiling was just
beginning, was 47.
Interest rates rise

In early December, the Board of
Governors of the Federal Reserve
System approved a %-percent increase
in the discount rate charged by Federal
Reserve Banks on advances to member
commercial banks. At the same time,
the Board granted member banks permission to pay up to 5^-percent annual
interest on time deposits maturing in
30 days or more.
Effects in several financial markets
were evident immediately. In the
first 10 days after the Federal Reserve's
action, many major commercial banks
raised their minimum lending charge
on business loans—the "prime" rate—
from 4% percent to 5 percent. Yields
on short-term U.S. Government securities, which had fluctuated in a




40

Manuf acturipg

'
Durable Goodsv
20

vNondurable Goods :•''-,';/;. , *;

I i i i I i t i t i i i I i t i I I I i I

But other groups are also higher

20

Other Nonfinancial Corporations

Transportation, Communication, and Public Utilities

M

December 1965

eminent, municipal, and corporate—
which had been increasing steadily
since midyear, rose further in early
December.
Final third quarter profits

Final estimates of third quarter corporate profits (including inventory valuation adjustment) show a rise of $1%
billion to a seasonally adjusted annual
rate of $73.5 billion. (See table 1,
page 3.) This figure is little different
from the preliminary estimate published
last month. For the first three quarters
of this year, profits were $8 billion
(annual rate) above the total for the
corresponding 1964 period. Profits
rose sharply in the first quarter of this
year, but increases have moderated
since then.
The pattern of change by industry
from the second to the third quarter
was mixed. A rise in durable goods
brought profits back to about their first
quarter peak, but profits in nondurables
were unchanged for the second straight
quarter. Outside of manufacturing,
there were increases in public utilities
and finance, .and there was no change
in the "all other" group as a whole.
In the third quarter of 1965, the
ratio of corporate profits and inventory
valuation adjustment to corporate gross
product returned to the high first
quarter ratio of 17.9 percent after a
minor second quarter dip. For the
year to date, the ratio has averaged
17.8 percent, as compared with fullyear ratios of 17.1 in 1964 and 16.6 in
1963

M

«.

^gms

of

nonfinancial

COr-

o l i t i I t i t I v i i r \ i t I t i':V I porations, which account for the bulk
i96i
62
63
64
65
of corporate gross product, have moved
Quarterly, Seasonally Adjusted, at Annual Rates
•i/Before taxes, including inventory valuation adjustment.

The

'Total,clUdestancialcorporations,rotShownSepara.el,:
U.S. Department of Commerce, Office of Business Economics

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65-12-2

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page O.

game

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data

overa]][- total

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a

PP6al>

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Ml . table . 2,

The Office of Business Economics
announces . . .

BUSINESS STATISTICS, 1965
THE FIFTEENTH VOLUME in a series of statistical supplements to the monthly
SURVEY OF CURRENT BUSINESS, the 1965 biennial edition provides, for the past quarter
century, historical data for more than 2,500 series.
For most series, annual data are presented back to 1939. Quarterly statistics back to
1954 are shown for those series ordinarily published on a quarterly basis, and monthly
data back to 1961 are given for monthly series. A feature new to this volume is an
appendix providing monthly or quarterly data back to 1947 for 350 of the more important
economic series. As in earlier editions, explanatory notes to the time series define terms,
give sources of data, and describe the methods of compilation used.
Orders may be placed with the Superintendent of Documents, U.S. Government
Printing Office, Washington, B.C., 20402, or with any Field Office of the U.S. Department of
Commerce. Price, $2.00.

NATIONAL INCOME AND PRODUCT TABLES

Table 2.—Corporate Gross Product1
[Billions of dollars]

Table 1.—National Income by Type of Income
1964

[Billions of dollars]
1964
1962

1963

1964

III

1962

1965
IV

I

II

457.7

481.1

Compensation of employees— _ 323.6
Wages and salaries __
Private
.
Military. _ _
Government civilian.

526.3

541.4

550.3

369.0

375.4

383.1

388.7

395.2

336.8
271.7
11.7
53.3

342.6
276.5
11.9
54.3

349.8
282. 9
11.8
55.0

355.0
287.3
11.8
55.9

360.9
291.9
12.3
56.7

514.4

519. 5

341.0

365.3

296.1 311.2
_. 240.1 251.6
10.8
10.8
48.8
45.2

333.5
269.2
11.7
52.6

Supplements to wages and
salaiies. • _ _ _ _ / _ _ _ _ _
Employer contributions
for social insurance
Other labor income
Employer contributions
to private pension and
welfare funds
Other __
Proprietors' income
Business and professional—Income of unincorporated
enterprises
Inventory valuation adjustment
Farm.

558.5

27.5

29.8

31.8

32.2

32.7

33.4

33. 8

34.2

13.7
13.9

15.0
14.8

15.4
16.5

15.' 5
16. 7

15.7
17.1

16. 1
17.3

16.3
17.5

16.5
17.7

11.4
2.5

12.1
2.7

13.5
2,9

50.1

50.8

51. 1

51. 4

51.8

51.9

54.6

54.6

37.1

37.8

39.1

37.1

37.8

39.1

*

39.4

39.6

39.9

40.1

Corporate gross product

.0
13.0

.0
12.0

12.0

12.2

12.0

14.5

14.2

__

16.7

17.6

18.2

18.3

18.5

18.5

18.6

18.6

Corporate profits and inventory valuation adjustment-

55.7

58.1

64.5

65.5

64.9

71.7

72.0

73.5

Profits before tax
Profits tax liabilitv
Profits after tax
Dividends
Undistributed profits

55.4
24.2
31.2
15.2
16.0

58.6
26.0
32.6
15.8
16.8

64.8
27.6
37.2
17.2
19.9

65.3
27.8
37.5
17.4
20.1

65.9
28.1
37. 8
17.7
20.0

73.1
29.3
44.0
17.8
26.2

73.7
29.4
44.4
18.2
26.1

74.6
29.7
44.9
18.6
26.2

•3

-.4

-.3

.2

-1.0

-1.4

-1.7

-1.1

11.6

13.6

15.2

15.4

15.7

16.1

16.4

16.7

Rental income of persons

Inventory valuation adjustment
Net interest




Capital consumption allowances
Indirect business taxes plus
transfer payments less subsidies
_. _ ______
Income originating in corporate business
Compensation of employees.
Wages and salaries
Supplements
Net interest _ _ _ _ _ _ _ _
Corporate profits and inventory valuation
adjustment.
Profits before tax. __ _ _
Profits tax liability
Profits after tax
Dividends
Undistributed profits _
Inventory valuation adjustment
Gross product originating in financial institutions

40.4

.0
13.0

III

IV

<

II

III

Seasontally ad usted a t annua 1 rates

III

Seasonally adjusted at annual rates
National income

1964

1963

1965

317.4

30.1

362.5

367.0

380.5

384.4

390.9

32.0

34.0

34.3

34.8

35.4

35.8

36.3

31.0

32.8

34.8

35.3

35.6

36.4

36.5

36.8

269.4
216. 3
194.9
21.4
-2.5

289.8
231.2
208.5
22.7
-2.8

293.0
233.6
210.6
23.0
-2.9

296.6
237.7
214.2
23.5
-3.0

308.6
243.5
219.6
23.9
-3.0

312.2
247.0
222.8
24.2
-3.1

317. 8
250.9
226.4
24.5
-3.1

53.1
52.8
24.2
28.7
14.0
14.7

55.6
56.0
26.0
30.0
14.8
15.2

61.4
61.7
27.6
34.1
16.0
18.1

62.3
62.1
27.8
34.3
16.1
18.2

61.9
62.9
28.1
34.8
16.5
18.3

68.1
69.5
29.1
40.4
16.4
24.0

68.2
70.0
29.4
40.6
16.7
23.9

70.0
71.1
29.7
41.4
17.2
24.2

.3

A

-.3

.2

-1.0

-1.4

-1.7

-1.1

14.3

15.3

15.7

15.9

15.9

16.5

16.8

319.8

343.3

346.8

351.0

364.6

367.9

374.1

31.2

33.1

33.4

33.9

34.6

34.9

35.4

14.6

Capital consumption allow29.3
ances
__
Indirect business taxes plus
transfer payments less sub29.7
sidies
Income originating in nonfi243.8
nancial corporations
Compensation of employees. 194.7
Wages and salaries _
_ 176.2
18.5
Supplements
4.1
Net interest
Corporate profits and inventory valuation ad45.0
justment
_ __
Profits before tax
_ _ _ 44.7
20.9
Profits tax liability
23.9
Profits after tax
12.8
Dividends
Undistributed profits. 11.1
inventory valuation ad.3
justment-

1

358.6

256.4
205.9
186. 1
19.8
-2.6

Gross product originating in nonfinancial
corporations. __ _ _ _ 302.8

Addenda:
Cash flow, gross of dividends:
All corporations
_ _ _
Nonfinancial corporations...
Cash flow, net of dividends:
All corporations _
Nonfinancial corporations _ _ _

334.2

31.4

33.3

33.7

34.0

34.8

34.9

35.2

257.3
204.4
184.5
19.9
4.8

276.8
218. 4
197.3
21.1
5.0

279.6
220. 6
199.2
21.4
5.1

283.1
224.4
202.6
21.8
5.3

295.2
230.0
207.8
22.2
5.3

298.1
233.3
210. 8
22.5
5.4

303.5
237. 1
214.3
22.8
5.5

48.1
48.5
22.6
25.9
13.8
12.2

53.4
53.7
23.6
30.0
14.7
15.3

53.9
53.7
23.6
30.1
14.8
15.3

53.5
54.4
23.9
30.6
15.2
15.4

59.8
61.2
25.7
35.5
15.0
20.5

59.4
61.1
25.7
35.4
15.3
20.1

60.8
61.9
25.9
36.0
15.8
20.2

-.4

-.3

.2

-1.0

-1.4

-1.7

-1.1

58.7
53.2

62.0
57.1

68.0
63.2

68.6
63.5

69.6
64.5

75.9
70.1

76.4
70.3

77.7
71.4

44. 8
40.4

47.2
43.3

52.1
48.5

52.5
48.7

53.1
49.3

59.5
55.1

59.7
55.0

60.4
55.6

Excludes gross product originating in the rest of the world.

Table 3.—National Income by Industry Division

Table 6.—Relation of Gross National Product, National
Income, and Personal Income
[Billions of dollars]

[Billions of dollars]
1964

1964

1965

1962
1963

1962

1964

IV

III

I

II

457.7

All industries, total.

481.1

514.4

526.3 541.4

519.5

550.3

558.5

17. 6
32.4
156.5
62.1
94.4
21.3
10.7

17.7
33. 5
158. 1
63.3
94.8
21.4
10.8

17.4
34.0
167.2
65.7
101. 5
21.9
11.0

20.2
34.3
168.1
65.8
102. 2
22.5
11.0

19.8
34.7
171.2
66.5
104.6
23.0
11.4

9.7
70.3

10.2
73.3

10.8
78.1

11.0
78.9

11.1
79.5

11.2
82.0

11.5
82.7

11.6
83.9

Plus: Subsidies less current
surplus of government
enterprises

50.7
50.7

53.2
54.1

57.0
58. 0

57.9
58.4

58.8
59.5

59.2
60.2

60.3
61.1

60.9
62.6

Equals : National income

60.7
3.3

64.8
3.3

70.0
4.1

70.8
4.1

71.9
3.9

72.7
4.6

73.7
4.8

75.0
4.5

1964

1965

III

IV

I

II

_.

III

87.9

89.5

101.7

101.5

105.3

106.3

105.7

111.4

21.6

20.4

26.3

25. 0

29.5

23.8

23.0

27.2

16.0

16.8

19.9

20.1

20.0

26.2

26.1

26.2

.3

-.4

-.3

.2

-1.0

-1.4

-1.7

-1.1

30.1

32.0

34.0

34.3

34.8

35.4

35.8

36.3

19.9

20.8

21.7

22.1

21. 8

22.3

22.5

22.8

.0

.0

.0

.1

-.1

.0

.0

.0

Government surplus on income and product account. -2.9

1.2

-2.4

-2.1

.8

3.9

4.7

-1.1

Federal
_ .
State and local

-3.8
.9

.3
.9

-3.8
1.4

-3. 6
1.5

-1.1
1.9

2.5
1.4

2.8
1.8

-4.1
-2.9

Gross investment. _

85.5

90.0

98.7

98.7

103.9

106.0

105.8

107.3

83.0
2.5

86.9
3.2

92.9
.5.8

92.6
6.1

97.7
6.2

102.4
3.6

101.1
4.7

102. 0
5.3

.5

-.7

-.5

-.7

-2.2

-4.2

-4.6

-2.9

Gross private domestic investment
Net foreign investment
Statistical discrepancy

_ _ ._

Table 5.—Corporate Profits (Before Tax) and Inventory Valuation
Adjustment, by Broad Industry Groups
[Billions of dollars]
1964

1962

1963

1964

III

I

II

III

Seasortally ad usted at annua1 rates
All industries, total
Financial institutions
Mutual. _ .
Stock. _
Nonfinancial corporations
Manufacturin g
Nondurable goods
Durable goods .. ..
Transportation, communication, and public utilities
All other industries- ..




1965
IV

I

II

,
III

55.7

58.1

64.5

65.5

64.9

71.7

72.0

73.5

8.1
2.0
61

7.5
1.6
59

80
1.7
63

8.4

85

8.3

89

92

47.6
26 6
12 5
14.1

50.6
28 7
13 2
15.4

56.5
32 1
14 9
17 2

57. 0
32 5
15 0
17 5

56.4
32 3
15 3
17 1

63.4
37 3
16 6
20 8

63.2
36 7
16 6
20 1

64.3
37 3
16 6
20 7

85
12 .4

92
12.7

10 0
14.3

10 2
14.4

10 1
14 0

10 5
15 5

10 5
16.0

11 0
16 0

52.8

628.7

634.8

641.1

656.4

665.9

677.5

55.7

56.1

56.9

57.7

58.3

59.1

536.5 573.0

578.6

584.3

598.6

607.6

618.4

51.5

54.6

58.0

58.8

59.3

60.7

61.0

61.6

2.1
.5

2.2
-.7

2.3
-.5

2.3
-.7

2.4
-2. 2

2.3
-4.2

2.3
-4.6

2.3
-2.9

1.5

1.5

1.5

1.2

526.3 541.4

550.3

558.5

1.4

.7

1.2

457.7

481.1

514.4

519.5

55.7

58.1

64.5

65.5

64.9

71.7

72.0

73.5

24.0

26.8

27.8

28.0

28.4

29.1

29.4

29.9

.0

.0

.0

.1

-.1

.0

.0

.0

33.0

34.2

34.1

34.4

36.0

35.1

38.9

17.5
15.8

19.1
17.2

19.4
17.4

19.5
17.7

19.9
17.8

20.4
18.2

20.8
18.6

442.6

1.3

2.2

2.3

2.3

2.4

2.3

2.3

2.3

464.8

495.0

499.1

507.1

516.6

524.9

535.9

Table 7.—Government Receipts and Expenditures
[Billions of dollars]
1965

1964

1962

1963

1964

Federal Government receipts. .
Personal tax and nontax
receipts
Corporate profits tax accruals
Indirect business tax and
nontax accruals
Contributions for social
insurance

III

IV

I

II

III

Seasonally adjusted at annual rates
122.2

106.4

114.3

114.5

114.6

116.8

122.7

123.7

48.6

51.5

48.6

48.1

49.8

53.5

54.6

53.0

22.7

24.5

26.0

26.2

26.5

27.4

27.6

27.9

14.6

15.3

16.1

16.4

16.4

16.8

16.3

15.7

20.5

23.0

23.7

23.9

24.2

24.9

25.1

25. 5

110.3

114.0

118.3

118.2

117.9

120.2

120.8

126.2

63.4

64.4

65.3

64.9

64.3

64.9

65.9

67.1

27.7
25.5
2.2

29.2
27.0
2.2

29.9
27.8
2.2

29.7
27.6
2.1

29.8
27.7
2.1

31.2
29.2
2.0

30.5
28.2
2.3

34.1
31.9
2.2

Grants-in-aid to State and
local governments

8.0

9.1

10.4

10.6

10.8

10.8

11.0

11.7

Net interest paid _

7.2

7.8

8.4

8.5

8.4

8.6

8.7

8.8

Subsidies less current surplus of government enter prises _. _ _ __

4.0

3.6

4.3

4.4

4.7

4.7

4.7

4.5

Surplus or deficit (— ) on income and product account- -3.8

.3

-3.8

-3.6

2.5

2.8

-4.1

58.6

63. 1

68.6

69.5

70.5

71.8

73.1

75.3

*, 7

9.5

10.6

10.7

10.9

11.2

11.4

11.6

1.4

1.5

1.6

1.6

1.6

1.7

1.7

1.8

36.9

39.2

41.9

42.4

42.9

43.8

44.7

45.9

3.5
8.0

3.8
9.1

4.1
10.4

4.1
10.6

4.2
10.8

4.2
10.8

4.3
11.0

4.4
11.7

57.6

62.2

67.2

67.9

68.6

70.4

71.3

72.3

58.3

63.1

63.8

64.3

66.0

67.0

68.1

6.0
.8

6.5
.8

6.5
.8

6.6
.8

6.8
.7

6.9
.7

6.9
.7

2.8

3.1

3.1

3.1

3.2

3.2

3.3

.9

1.4

1.5

1.9

1.4

1.8

2.9

Federal Government expenditures..
Purchases of goods and
services
._ _
Transfer payments
To persons. __ _
To foreigners (net)

State and local government
receipts..

1965
IV

Less: Corporate profits and
inventory valuation
adjustment
Contributions for social
insurance _
Wage accruals less disbursements

Equals: Personal income

Seasonally adjusted at annual rates

Persona] saving _
Undistributed corporate
profits
Corporate inventory valuation adjustment
Corporate capital consumption allowances.
_ _
Noncorporate capital consumption allowances
Wage accruals less disbursements

Less: Indirect business tax
and nontax liability...
Business transfer payments
/•
Statistical discrepancy _ _

Plus: Government transfer
payments to persons- _ 31.2
Interest paid by government (net) and by
consumers
_•_
16.1
Dividends _
-15. 2
Business transfer pay2.1
ments

[Billions of dollars]

1963

50.0

Equals: Net national product- - 510.4

17. 6
32.4
154.7
61.9
92.8
21.0
10.6

Table 4.—Sources and Uses of Gross Saving

Gross private saving.

Gross national product- _ 560.3 589.2
Less: Capital consumption
allowances
_

18.6
30.1
143.8
57.7
86.1
19.9
9.8

1962

III

Seasonally adjusted at annual rates

18.5
28.5
137.0
55.6
81.4
19.1
9.3

1964

1964

III

Seasonally adjusted at annual rates

Agriculture, forestry, and
fisheries
Mining and construction
M anuf acturing
Nondurable goods _ _ __
Durable goods
Transportation
Communication
Electric, gas, and sanitary
services
Wholesale and retail trade
Finance, insurance, and real
estate
Services
Government and government
enterprises
__
Rest of the world

1963

Personal tax and nontax
receipts
Corporate profits tax
accruals
Indirect business tax and
nontax accruals
Contributions for social
insurance
Federal grants-in-aid__
State and local government
expenditures

Purchases of goods and
53.7
services
_ _ _
Transfer payments to
5.7
persons
.8
Net interest paid
Less: Current surplus of
government enterprises. . 2,6
Surplus or deficit (— ) on income and product account

.9

-1.1

December 1965

SURVEY OF CURRENT BUSINESS

Unfilled Orders for Durable Goods Rising Faster Than Sales
THE current expansion has been noteworthy for the strength of durable goods
demand/and 1965 will show the largest
increase in production and sales of
durable goods since the early recovery
period. Continued advances in business investment and in consumer expenditures for household durables
throughout 1965 and sharply increasing
defense programs have been reflected
in a rising flow of new orders for durable
goods. New business received by durable goods manufacturers in October
was at a record high, some 2 percent
above the third quarter rate. For the
first 10 months of this year, new orders
were 9 percent above the corresponding
period of 1964.
Unfilled orders, which have been
rising fairly steadily since mid-1963,
have increased every month this year.
In October, backlogs of durable goods
were $8 billion or 14 percent above their
level a year earlier. This year's increase in backlogs is the largest since the
expansion began and has brought backlogs to their highest point in almost 9
years.
The ratio of unfilled orders to shipments of durable goods has increased
this year, continuing a modest rise that
began only in early 1964. Backlogs at
the end of this October were 3.28 times
monthly shipments, as compared with a
figure of 2.85 for the first quarter of last
year. From 1961 through 1963, the
ratio declined slightly.
The rise in the unfilled order-sales
ratio in September and October was
rather sharp. In part, it was attributable to industries producing defense
products, but it appeared also in
machinery and equipment industries.
The most recent increases probably
indicate somewhat more pressure on
the capabilities of durable goods industries and are consistent with the
finding, reported below in the review




of plant and equipment expenditures,
that a rising percentage of durable
goods companies consider their present
production facilities inadequate to
satisfy current and near-term sales
requirements.
Comparison with the

midfifties

Even with the latest increases, current ratios of unfilled orders to sales
I^J-JJJ]

CHARTS'

Durable Goods: Ratio of
Unfilled Orders to Shipments
Overall ratio has edged up since early 1964
But is well below mid-fifties
Ratio *
6

Step-up in defense

Durable Goods, Total^

1954

55

56

57

58

59

60

61

62

63

64

65

Patterns vary considerably among major groups

18

Defense Products
„ (Communication equipment,
aircraft and parts,
and ordnance)

6

6.07W Steel VS.OT
V Strikes/
•

Machinery and
Equipment

4

^^^o
"^~^^

/
2

'"• Blast Furnaces
and Steel Mills

oL

' '"

\

^
°
Consumer Durables, excl. Autos <
1 1 II 1 1 1 1 1 1 1 1 1 1 1 1 [ 1 1 1 1 1

1954 55

56

57

58

59

60

o October

61

62

63

64

65

Basic Data: Census

* Ratio based on unfilled orders end of quarter and average monthly sales during the
quarter, seasonally adjusted.
-l/Excludes industries with no unfilled orders: wooden containers; glass containers;
metal cans, barrels, and drums; and motor vehicle assembly operations.
U. S. Department of Commerce, Office of Business Economics

of durables are still well below those
reached in 1956. Moreover, the modest
rise in the ratios in this expansion
contrast sharply with the swift increases that came early in the 1955-57
expansion. In that period, durable
goods industries as a group lacked the
capacity to satisfy the strong upsurge
in new orders in late 1954 and in 1955.
It was not until late 1956, when the
investment boom was well underway,
that the ratios started to decrease. In
contrast, the existence of a sizable
amount of excess capacity in durable
goods industries in the first 3 years of
this expansion enabled producers to
accommodate increases in orders with
comparative ease. As an increasing
proportion of firms has reached capacity
limits over the past 2 years, the ratio
has risen but only moderately. This
suggests that the ability of firms to
fill orders—a result of large additions
to capacity—has not lagged very far
behind the increase in demand.

65-12-3

Because of the fighting in Vietnam,
order backlogs for defense products—
aircraft and parts, ordnance, and communication equipment-^-have grown
considerably this year, and the rise has
outstripped the increase in defense
shipments. Typically there is a long
lag between order placements and delivery of major procurement items. At
the end of the third quarter, the ratio of
backlogs to shipments stood at more
than 10, as compared with 9 a year earlier. As chart 3 makes clear, this ratio
has been moving irregularly higher since
early 1962.
It is also quite apparent that the
ratios in recent years are far below
those that prevailed in the midfifties.
Part of the difference is due to changes
in procurement policies of the Department of Defense. Formerly, contract
awards for major procurement items
like aircraft were generally made on a
lump-sum basis covering in a single
award the entire cost of the contract,
regardless of the length of time required
to complete it. Frequently, individual
contracts were so large that their completion required several years; the new
orders reported by respondent firms

SURVEY OF CURRENT BUSINESS

6
reflected large awards of this type.
More recently, however, contract
awards have been placed only for that
part of a total contract expected to be
completed within a year; only this portion is now reported as a new order.
CHART 4

Ratio of Unfilled Orders to Shipments,
Selected Industries
Ratio *
16

NONELECTRICAt MACHINERY
14

12

10

Metal Working
Machinery

Machinery and equipment ratio
shows moderate uptrend

The ratio of unfilled orders to shipments for the market category of machinery and equipment began to rise in
the summer of 1962, somewhat earlier
in the current expansion than the ratio
for total durable goods; the increase
since then has been fairly steady. The
October 1965 ratio was 3.82, as compared with a low of 3.05 reached in the
summer of 1962.
Patterns of short- and long-run
change in the ratios for some of the
important machinery and equipment
industries are quite varied, and generalizations are not easy to make. This
may be seen in chart 4, which also

December 1965

contains figures for communication
equipment (defense) and household
appliances (consumer durables). In
most cases, ratios have risen during the
current expansion, but there is little
uniformity in the timing of the troughs
and the extent of the increases. In
this expansion, the rises have tended to
be much more gradual than they were
in 1955-56, and most current ratios
are well below those reached about 10
years ago. An important exception is
metalworking machinery, where the
current backlog-shipments ratio is well
above those of the mid-1950's. However, the ratio for metalworking reached
early in the Korean War (not shown on
the charts) was considerably higher
than now.

Acceleration in Business Investment Programs

Construction, Mining, and Material
Handling Equipment
Iii11II1111111111II111M 111111 M1111 I
1954 55

56

57

58

59

60

61

62

63

64

65

20

ELECTRICAL MACHINERY

•Communication ;Equipment
14

12

10

Electric?! Transmission
Equipment

Household Appliances, TV, Radio

1954 55

56

57 58

59

60

61

62

63

64

65

* Ratio based on unfilled orders end of quarter and average monthly sales during the
quarter, seasonally adjusted.
o October
U. S. Department of Commerce, Office of Business Economics




Basic Data: Census
65-12-4

BUSINESS capital investment advanced sharply this summer and is
expected to increase substantially in
the fourth quarter of 1965 and in the
first half of 1966. Actual expenditures
in the third quarter of this year showed
the largest quarterly increase in the
current economic expansion; the $2%
billion rise brought outlays to a record
seasonally adjusted annual rate of
$52.8 billion. According to the latest
OBE-SEC survey of business investment intentions, conducted in November, expenditures are scheduled to
advance by about $2 billion in the
fourth quarter and in each of the first
two quarters of 1966. These programs
would bring outlays in the second
quarter of next year to an annual rate
of $58.8 billion, 14 percent above the
total for the full year 1965.
The anticipation for the second
quarter of 1966 is somewhat more
tentative than anticipations for the
nearer term because experience with
projections three quarters ahead is still

Table 1.—Percent Change in Plant and
Equipment Expenditures, Aetual 1963-64
and Anticipated 1964-65

Actual,
1963-64

Actual 1964 to anticipated
1965 as reported in—

Feb. May Aug.
AH industries i_

__

Manufacturing

Nov.

14.5

11.7

12.3

13.4

15.4

18.4

15.9

17.2

17.8

21.1

16.3
15.6
20.9

20.3
18.8
30.7
30.0

Durable goods 1
_
Primary metals
Machinery
Transportation
equipment
Stone, clay, and
glass _

20.0 13.6
31.1 17.1
19.2 18.7

15.5
14.0
18.6

25.0

8.0

21.3

25.4

10.7

18.2

19.4

12.9

13.5

Nondurable goods *..
Food and
beverage _
Textile _
Paper _
Chemical
Petroleum

16.9

18.2

18.9

19.3

22.1

9.5
17.2
30.0
22.4
15.0

10.9
35.8
13.3
24.3
12.6

4.4
31.0
22.2
23.8
17.6

10.0
33.8
21.2
25.4
13.8

11.9
31.5
24.1
30.8
16.8

Mining. _

14.0

10.5

10.8

9.8

Railroads

27.5

15.1

15.7

15.1

19.2

Transportation, other
than rail

24.0

8.1

11.2

17.3

19.3

Public utilities

10.1

5.5

7.3

7.6

10.1

Communications-

13.4

8.2

9.9

10.1

Commercial and other.
1

8.0

},..

9.7

Includes industries not shown separately.

Sources: U.S. Department of Commerce, Office of Business
Economics, and Securities and Exchange Commission.

SURVEY OF CURRENT BUSINESS

December 1965

Table A.—Expenditures for New Plant and Equipment

1965
1st qtr.

2d qtr.

1966
3d qtr. 4th qtr.i

1st qtr.i

2dqtr.i

Percent
change:
1965 full
year to
1966 2d qtr.

(Seasonally adjusted annual rates in billions of dollars)
AH industries
Manufacturing.
Durable goods _ _
Nondurable goods

.__
-

Nonmanufacturing

_ ___

49.00

50.35

52.75

54.85

56.70

58.85

14

20. 75
10.40
10.40

21.55
10. 80
10.70

23.00
11. 75
11.25

24.35
12.20
12. 15

24.70
12.40
12. 25

25. 85
13.25
12.60

15
17
13

28.25

28.80

29.75

30. 50

32.00

33.00

13

i Anticipated.

quite limited. Still, it is of interest
that the expected rise next spring shows
up in both manufacturing and nonmanufacturing, as may be seen in
table A.
Programs revised upward
This year, like the year before, has
witnessed a progressive expansion of
investment programs over earlier anticipations. According to the latest
survey, actual expenditures in the
third quarter, at seasonally adjusted
annual rates, were $1% billion above the
figure projected 3 months earlier. Pronounced increases from earlier plans
occurred in durable goods manufacturing, railroads and other transportation,
public utilities, and communications.
Anticipations for the fourth quarter
have been expanded by all major
industrial groups, for a total upward
revision of $1.9 billion.
Spending for all of 1965 is now
expected to equal $51.8 billion, a 15percent rise over 1964.1 Last February
when the survey for the full year 1965
was first conducted, a 12-percent advance was scheduled. All major industry divisions except mining have
raised their investment sights since
early this year. Upward revisions in
programs are most noticeable in durable
goods manufacturing, nonrail transportation, and public utilities. (See
table 1.)
1
The reported figures for anticipations are adjusted for
systematic biases. (See footnote 2, table 5.) Before the
application of adjustment factors, expenditures for 1965 were
anticipated to be $51.7 billion for all industries, $22.5 billion
for manufacturing, and $29.2 billion for nonmanufacturing.
The net effect of the adjustments, which were applied separately to each major industry, was negligible in manufacturing and raised the nonmanufacturing total about $100 million.




An important reason for the step-up
in investment programs over earlier
projections is that sales have been
better than expected. Last February,
businessmen reported expectations of a
6-percent rise in sales from 1964 to

1965. In the first 10 months of 1965,
business sales were 8 percent higher
than in the corresponding months of
last year. With sales above expectations, requirements for new capacity
(and replacement) have been revised
upward, and better-than-anticipated
profits have provided business with a
good part of the funds for the needed
expansion in facilities.
Manufacturing expansion continues
Results of the current survey point
to no letup in the near term in manufacturers' expenditures for new capacity
and replacement. Outlays in the fourth
quarter are expected to rise 6 percent
to a seasonally adjusted annual rate of
$24.4 billion. Further increases of 1
CHARTS

New Plant and Equipment Expenditures
Billion $

(Ratio Scale)

Billion $

DURAB|£ GOODS ;MAM^^^

30

4

-°

NONDURABLE GOODS .MANUFACTURING

3.0 «-~J~^i

.5
1961

62

63

64

65

66

1961

62

63

64

65

66

Quarterly Totals, Seasonally Adjusted at Annual Rates
o Anticipated
Note. — Latest figure plotted: First quarter 1966.
U.S. Department of Commerce, Office of Business Economics

Data: OBE-SEC
65-12-5

SURVEY OF CUEKENT BUSINESS

8
percent and 5 percent are programed
for the first and second quarters of 1966.
Within the durable goods group, the
electrical and nonelectrical machinery
industries project the largest relative
increases in capital spending this quarter and next, as can be seen in chart 5.
Earlier in the current investment expansion, both industries had increased
outlays only moderately.
Although producers of iron and steel
and motor vehicles continue to plan
sizable expenditures, their programs
appear to be leveling off. Moderate
advances in capital outlays by other
durable goods producers are expected
to continue.
The principal contributors to the
expansion in outlays of nondurable

^SZ4 CHART 6

Plant and Equipment Projects —
Starts, Expenditures, and Carryover

Table 2.—Carryover of Plant and Equipment Projects, Manufacturing and Public Utilities1
(Billions of dollars)
1962

1963

Manufacturing

15

March June Sept.
14 73 3 1599 16 23

7.21

8.61

9.00

9.18

9.08

4.84
1.97
.37
.56
1.10
.32

5.15
2.08
.36
.48
1.40
.30

5.25
2.27
.33
.40
1.37
.32

5.05
2.23
.32
.31
1.36
.29

5.61
2.30
.33
.53
1.48
.33

5.95
2.56
.37
.48
1.63
.38

6.21
2.59
.41
.41
1.86
.39

6.62
2.74
.41
.43
2.02
.40

7.98 3 8. 89
3.05 3.34
.51 3.60
85
.77
2.31 2.85
.52
.53

8 82

Nondurable goods 2
Food and beverage
Textile
Paper
Chemical
Petroleum _ __ _

3.23
.34
.17
.36
1.03
1.02

3.78
.42
.16
.52
1.01
1.32

3.85
.41
.15
.56
1.01
1.40

3.94
.36
.14
.61
1.11
1.41

4 03
.41
.20
.59
1.03
1.50

4 78

5 68
.40
.28
.77
1.61
2.23

6 01
.54
29
.77
1.59
2.43

6 75
.60
37
88
1.74
2.62

7 10
.63
46
.96
1.86
2.72

7 41

.26
.61
1.26
1.90

5 31
.40
.28
.78
1.39
2.10

1.90
2.80

5.07

6.13

6.40

5.58

5.46

6.62

6.53

6.09

5.65

7.64

7.67

7.24

Public Utilities

-

10.38 11.26 11.88 12 63

.<42

O QO

.63
80
2.73

.53
.78
51
97

1. Carryover refers to expenditures yet to be incurred on plant and equipment projects already underway.
2. Includes industries not shown separately.
3. Revised.
Sources: U.S. Department of Commerce, Office of Business Economics, and Securities and Exchange Commission.

goods producers in the latter half of
1965 and the first half of 1966 are the
textile, paper, and petroleum industries.
Other soft goods producers are also
planning further increases in expenditures but at a somewhat slower rate.

but smaller than the $4.7 billion gain
reported for June 30, 1965. Although
seasonal adjustment factors are not
available, a rough allowance for seasonal movements suggests that carryover, after rising fairly steadily since
the inception of this series at the end
of 1962, showed little change in the
third quarter of 1965. The carryover
for all manufacturers this September
was equal to 2.8 quarters at the third
quarter rate of spending. The corresponding ratio a year earlier was 2.5.
At the end of September, carryover
of the durable goods group was $2.6
billion above a year earlier, while the
backlog in nondurables was up $1%
billion. Carryover appears to have
risen more than seasonally during the

carryover and new

Manufacturers' carryover of plant
and equipment projects—i.e., expenditures still to be incurred for projects
already under construction or on
order—totaled $16.2 billion at the end
of September, $4.4 billion more than
in September 1964. This increase was
about the same as the year-to-year increase reported for March 31, 1965,

10

1965

Durable goods 2
3.99
Primary metals
1.66
Electrical machinery
.33
Machinery except electrical- _
.25
Transportation equipment—- _
.87
Stone, clay, and glass _ „ „ _ . _ . _ . .31

Manufacturers9
starts

—......-— —

196 4

March June Sept. Dec. March June Sept. Dec.

Dec.

Billion $
MANUFACTURING

December 1965

\ Expenditures
Table 3.—Starts of New Plant and Equipment Projects, Manufacturing and Public Utilities1
(Billions of dollars)
Annual

1965

1964

1963

PUBLIC UTILITIES
1963

1964 .

I

II

III

IV

I

II

III

IV

I

II

III

10
17.56

22.17

4.68

4.30

4.13

4.42

5.10

5.41

5.29

6.37

6.64

36.73

5.96

Durable goods2 • _ Primary metals
E lectrical machinery
Machinery except electrical. _
Transportation equipment- _ .
Stone, clay, and glass

8.91
2.22
.68
1.31
2.09
.59

10.99
2.68
.76
1.76
2.66
.79

2.47
.63
.20
.59
.55
.14

2.27
.51
.17
.22
.70
.14

2.06
.64
.14
.21
.39
.17

2.12
.46
.18
.30
.45
.14

2.48
.50
.16
.55
.49
.19

2.65
.77
.20
.36
.63
.22

2.63
.58
.20
.34
.77
.18

3.24
.84
.20
.52
.78
.20

3.62
.80
.25
.83
.81
.28

3 3. 68
.89
3.29
.43
1.21
.21

2.84
.70
.24
.58
.56
.20

Nondurable goods 2
Food and beverage
Textile __
Paper
Chemical _ _ _
Petroleum
__ __

8.64
1.04
.68
.95
1.61
1.26

11. 17
1.19
.84
1.11
2.52
4.29

2.20
.30
.14
.30
.34
.89

2.03
.25
.17
.21
.39
.78

2.07
.20
.14
.24
.49
.77

2.30
.29
.23
.20
.38
.96

2.61
.26
.20
.19
.59
1.10

2.76
.24
.19
.40
.60
1.03

2.68
.27
.19
.23
.72
.97

3.13
.42
.26
.29
.61
1.18

3.02
.32
.28
.34
.71
.98

3.06
.35
.32
.34
.76
1. 03

3.13
.47
.31
.31
.67
1. 05

6.04

6.41

2.10

1.67

.78

1.48

2.34

1.48

1.27

1.32

3.30

1.75

1.44

Manufacturing
Carryover

Starts

V .

Expenditures

\

Public Utilities
1962

1963

1964

1965

Note: Starts and expenditures, quarterly totals; carryover, end of quarter.
Data are not adjusted for seasonal variation.
U.S. Department of Commerce, Office of Business Economics




__ _

Data: OBE-SEC
65-12-6

1. Starts are estimated by adding changes in carryover to expenditures during the given period.
2. Includes industries not shown separately.
3. Revised.
Sources: U.S. Department of Commerce, Office of Business Economics, and Securities and Exchange Commission.

SURVEY OF CURRENT BUSINESS

December 1965

below the second quarter of 1965. The
decline from the spring to the summer
quarter, which may be seasonal, centers
in the durable goods group and is most
apparent in the steel and transportation equipment industries. Starts by
the machinery industries, on the other
hand, rose.

third quarter in nonelectrical machinery, food, and textiles; other major
industries showed either little change
or reductions.
Plant and equipment proj ects started
during the third quarter totaled $6
billion, about $700 million higher than
a year earlier but about $800 million

9
Evaluation of capacity by
turers

manufac-

A growing number of manufacturers
report that their existing plant and
equipment is inadequate to meet current and prospective sales requirements.
In the plant and equipment survey,
(Continued on page 28)

Table 4.—Manufacturers' Evaluation of Their Capacity
(Percent distribution of gross capital assets) *
June 30, 1964

Existing More
More
Existing
plant
plant
plant
plant
and About
and
and About
and
equip- adeequip- equip- adeequipment quate
ment
quate
ment
ment
needed
exceeds needed
exceeds
needs
needs
All manufacturing
Durable goods 2 _
Primary metals 3
Metal fabricators
Nondurable goods 2
Food and beverage... .
Chemical
Petroleum

38
36
45
30
40
32
77
23

56
55
39
64
57
58
22
77

December 31, 1964

March 31, 1965

Existing
More
plant
plant
and
and About
equipequip- adement quate
ment
exceeds
needed
-' needs

Existing
More
plant
plant
and About
and
equip- adeequipment
ment quate
exceeds
needed
needs

September 30, 1964

6
9
16
6
3
10
1
(4)

5
8
15
4
3
10
1

56
56
42
64
56
56
22
76

39
36
43
32
41
34
77
24

43
41
44
41
46
39
79
28

(4)

6
8
14
5
3
11
1

51
51
42
54
51
50
20
72

1. According to respondent companies' characterization of their plant and equipment facilities, taking into account their current and prospective sales for the next 12 months.
2. Includes industries not shown separately.
3. Includes machinery, transportation equipment, and fabricated metals industries.

42
42
48
39
43
37
79
24

(*)

52
50
38
56
54
54
20
76

June 30, 1965

September 30, 1965

Existing
Existing More
More
plant
plant
plant
plant
and
and
and About
and About
equip- equip- adeequip- adeequipment
ment quate
ment
ment
quate
exceeds
needed
exceeds needed
needs
needs

6
8
14
5
3
9
1

47
49
53
51
45
40
83
24

(4)

47
44
32
46
50

49
53
53
61
46
44
80
24

6
7
15
3
5
10
1
6

. 50
16
70

6
7
14
2
4
9
1
5

45
40
33
37
50
47
19
71

4. Less than 0.5 percent.
Sources: U.S. Department of Commerce, Office of Business Economics, and Securities and
Exchange Commission.

Table 5.—Expenditures for New Plant and Equipment by U.S. Business,1 1963-65
(Billions of dollars)
Annual
1963

1964

Quarterly, unadjusted
1964

19652
I

II

Quarterly, seasonally adjusted at annual rates

1965
III

IV

I

III

II

1964

1966
IV 2

12

1966

1965

I

II

III

IV

I

II

HI

IV 2

I2

All industries

39.22

44.90

51.83

9.40 11. 11 11.54 12.84 10.79 12.81 13.41 14.82 12.48

42.55

43.50

45.65

47.75

49.00

50.35

52.75

54.85

56.70

Manufacturing industries

15. 69

18.58

22.51

3. 79

4.53

4.67

5.59

4.54

5.47

5.73

6.78

5.40

17.40

17.80

18.85

20.15

20.75

21.55

23.00

24.35

24.70

7.85
1.24
.41

9.43
1.69
.48

11.34
1.91
.67

•1.93
.34
.09

2.30
.40
.11

2.37
.42
.13

2.83
.54
.15

2.25
.36
.14

2.76
.44
.15

2.91
.50
.16

3.41
.61
.22

2.70
.41
.18

8.85
1.60
.40

9.00
1.60
.45

9.60
1.65
.50

10.15
1.90
.55

10.40
1.70
.60

10.80
1.80
.60

11.75
1.95
.65

12.20
2.15
.80

12.40
1.90
.85

.70
1.80
1.80

.70
1.80
2.10

.80
2.00
1.95

.90
2.35
2.00

.95
2. 50
2.10

.85
2.45
2. 20

.45

.55

.65

.60

.70

10.40
1.10
.85
1.05
2.50
3.70

10.70
1.20
.85
1.05
2.50
3.75

11.25
1.25
1.05
1.20
2.60
3.80

12.15
1.15
1.15
1.30
2.65
4. 40

12.25
1.30
1.05
1.35
2.65
4.30

Durable goods industries....Primary iron and steel
___
Primary nonferrous metal
Electrical machinery & equipment
Machinery, except electrical
Motor vehicles and partsTransportation equipment, excluding motor vehicles
Stone, clay and glass3
Other durable goods

.69
1.24
1.06

.66
1.64
1.51

.84
2.17
2. 03

.14
.33
.25

.16
.40
.37

.16
.40
.43

.20
.51
.47

.15
.41
.43

.20
.51
.53

.22
.55
.52

.28
.71
.55

.18
.55
.45

.70
1.45
1.25

.65
1.55
1.35

.65
1.75
1.65

.53
.61
2.05

.48
.68
2.28

.57
.77
2. 38

.11
.14
.51

.12
.17
.58

.11
.17
.56

.14
.19
.62

.10
.16
.51

.13
.20
.60

.16
.20
.60

.17
.20
.68

.15
.17
.60

.50

.45

.45

Nondurable goods industries
Food and beverage.- - _ _ _.
Textile
Paper
Chemical. .
Petroleum
_
Rubber
.__
Other nondurable goods 4

7.84
.97
.64
.72
1.61
2.92
.24
.73

9.16
1.06
.76
.94
1.97
3.36
.27
.80

11. 18
1.19
.99
1.16
2.57
3.93
.35
.98

1.87 2.23
.24
.27
.14 . .18
.22
.18
.37
.47
.84
.70
.06
.06
.18
.20

2.30
.27
.20
.24
.50
.84
.07
.19

2.76
.28
.25
.30
.63
.99
.08
,23

2.28
.25
.20
.22
.55
.79
.07
.19

2. 70
.32
.22
.26
.64
.92
.09
.24

2.82
.32
.26
.30
.63
.97
.09
.25

3.37
.30
.31
.37
.75
1.24
.10
.30

2.70
.30
.24
.29
.58
.92
.09
.27

8.55
1.05
.60
.80
1.65
3.30

8.80
1.00
.65
.90
1.80
3.35

9.20
1.10
.80
.95
2.05
3.30

1.04

1.19

1.30

.26

.29

.30

.33

.29

.33

.32

.35

.32

1.15

1.15

1.20

1.30

1.25

1.30

1.25

1.40

1.35

1.10

1. 41

1.68

.32

.36

.37

.35

.39

.44

.44

.40

.40

1.40

1.25

1.50

1.55

1.75

1.55

1.70

1.70

1.80

Transportation, other than rail-

1.92

2.38

2.83

.51

.63

.59

.58

.77

.72

.76

.89

2.30

2.25

2.40

2.60

2.55

2.70

3.00

3.10

3.90

Public utilities—

5.65

6.22

6.84

1.18

1.58

1.71

1.76

1.32

1.71

1.88

1.94

1.47

5.95

6.30

6.30

6.35

6.80

6.85

6.75

6.95

7. 65

3.79

4.30

.97

1.10

1.06

1.17

1.08

1.24

1.22

4.05

4.30

4.40

4.40

4.55

4.80

5.05

2.61

2.84

3.01

2.59

2.85

3.10

11. 00

11.40

11.30

11.60

11.95

Il7.30

17. 30

2.37

Mining .
Railroad

.

Communication.

_

_ __

Commercial and other 5

10.03

10.83

16.66

.64

1. Data exclude expenditures of agricultural business and outlays charged to current
account.
2. Estimates are based on anticipated capital expenditures reported by business in late
October and "November 1965. The estimates for the fourth quarter of 1965 and the first
quarter of 1966 have been adjusted when necessary for systematic tendencies in anticipatory
data. The adjustment for each industry and time period is based on the median ratio of
actual to anticipated expenditures for the past 5 years. However, no adjustment is made unless
the anticipations have shown a bias in the same direction in 4 of the last 5 years and in at
least two-thirds of all years since 1954.
3. Includes fabricated metal, lumber, furniture, instrument, ordnance, and miscellaneous
industries.
793-966 O-65-2




U.59

4.01

10.25

10.45

. 50

10.00
1.10
.95
1.05
2.25
3.50

4. Includes apparel, tobacco, leather, and printing-publishing.
5. Includes trade, service, finance, and construction.
NOTE: Details may not add to totals due to rounding. Data for earlier years were published in the June 1956, March 1958,1960,1961,1962,1963,1964, and 1965 issues of the SURVEY
OF CURRENT BUSINESS.
Sources: U.S. Department of Commerce, Office of Business Economics, and Securities and
Exchange Commission.

10

SURVEY OF CURRENT BUSINESS

Manufacturers' Inventory and Sales Expectations for
Early 1966
MANUFACTURERS expect that inventory additions and sales gains will be
smaller in the fourth quarter of 1965
and the first quarter of 1966 than they
were in the first three quarters of this
year. These findings are based on
reports filed in November by firms participating in the quarterly expectations
survey conducted by the Office of
Business Economics.

Inventory gains of $400 million, after
seasonal adjustment, are projected for
both the final quarter of 1965 and the
first quarter of 1966. These anticipations are in sharp contrast to the accumulation of $1% billion in the third
quarter, when steel was still being
stockpiled.
Manufacturers are projecting quarterly sales increases of 1 percent

Manufacturers' Inventory and Sales Expectations
NONDURABLE GOODS MANUFACTURERS

Billion $

(ratio scale)

70

Billion $
70

60

60

Sales
Saless

50

50

40

Inventories
30

Inventories

20
1961

62

63

I I I I I I I t i l l
64
65
66

Ratio

I I I I I I I I I I I I I I I I I 1 I
1961
62
63
64
65

I I I I
66

20
Ratio

1.4

1.2

1.6

ii i i t i t MM

1 M I
1961

62

63

64

65

i H,
66

*tr
1961

62

Ki< '^:\}^^^:M^A.'. 1.0

63

64

65

66

Seasonally Adjusted
oAnticipated
Note. — Inventory book values, end of quarter; 'sales, quarterly total. Ratio equals end of quarter inventories divided by average monthly sales during the quarter.
U.S. Department of Commerce, Office of Business Economics
65-12-7




through March 1966. These compare
with increases of 2 to 4 percent in the
first three quarters of this year.
If current anticipations are realized,
the stock-sales ratio in March 1966
would be the equivalent of 1.6 months
of sales, a ratio that has shown little
change during 1965. On September 30,
manufacturers holding 16 percent of
the value of producers' stocks viewed
their inventories as "high" relative to
their sales and unfilled orders; this
percentage was no different from the
March and June evaluations. About
four-fifths of inventories continued to
be judged "about right." The remainder—3 percent—were considered
"low." Companies classifying their
stocks as "high" had a September stocksales ratio of 2.0, as compared with 1.3
for those that classified their stocks as
"low."
Durable goods: inventory movements
small, sales to rise

CHART 7

DURABLE GOODS MANUFACTURERS

December 1965

Durable goods producers expect to
cut inventories $100 million this quarter and to add $200 million in the opening months of 1966, after seasonal
adjustment. This would bring the
book value of their inventories to $41.4
billion next March. Metal users account for most of the projected reduction in the fourth quarter, apparently
because of adjustments in steel inventories after the steel agreement in
early September.
Durable goods producers look forward to a 1-percent sales rise in the
fourth quarter of 1965 and a 2-percent
rise in the first quarter of 1966; sales
gains in the first three quarters of this
year averaged 3 percent. The largest
relative gains are projected by the
machinery industries. Steel producers
expect a sharp decline in the fourth
quarter and little change in the first.
The anticipated level of inventories
next March would be equivalent to
1.9 months of expected sales, up from
1.8 months in March 1965. On September 30, producers holding 22 percent of total durable goods inventories
classified their stocks as '"high," compared with 20 percent in March and
June. Gaged by other recent years,
the "high" ratio was particularly large
for metal producers and users. On
September 30, 18 percent of metal

11

SURVEY OF CUEEENT BUSINESS

December 1965

producers' stocks were considered
"high," a substantial increase over the
8 percent so categorized. on June 30,
1965, and on September 30, 1964.
Among metal users, companies with
almost one-fourth of inventories judged
stocks to be "high" in March, June,
and September of this year; this is
well above the 17 percent in September
1964, when metal consumers began to
accumulate steel as a strike hedge.
For both primary metals producers
and metal fabricators, three-fourths of
inventory holdings were reported
"about right" this September.

Table 1.—Manufacturers' Inventories and Sales: Actual and Anticipated
(Billions of dollars)

1965

1964

1963

1966

I

II

III

IV

I

II

III

IV

I

II

III

IV i

Ii

58. 4
34.9
23.5

59.0
35.5
23.5

58.8
35.4
23.5

59.7
35.6
24.2

60.7
36.4
24.3

60.7
36.8
23.9

60.7
36.9
23.8

62.6
38.0
24.6

64.1
39.3
24.8

65.0
40.3
24.7

65.9
41.1
24.8

66.3
40.7
25.6

67.5
41.7
25.8

58.1
34.6
23.5

58.7
35.2
23.6

59.1
35.5
23.6

60.1
36.0
24.1

60.3
36.1
24.2

60.4
36.5
23.9

61.0
37.0
24.0

62.9
38.4
24.5

63.7
39.0
24,7

64.6
40.0
24.7

66.3
41.3
25.0

66.7
41.2
25.5

67.1
41.4
25.7

101.0
51.9
49.1

107. 0
57.0
50.0

102. 5
52.2
50.4

106. 8
55.8
51.0

108.0
56.3
51.7

114.2
60.6
53.6

109. 6
55.4
54.3

113.7
58.6
55.2

117. 0
61.5
55.5

123.3
65.4
57.9

118.5
60.2
58.3

123.5
64.6
58.9

123.8
64.9
58.9

All manufacturing
101. 9
52.6
Durables.
Nondurables- - _ _ _ 49.3

104. 4
54.2
50.1

105.0
54.8
50.2

106.2
55.3
50.9

109.1
57. 1
52.1

111.1
57.5
53.6

112.4
58.3
54.1

113.6
58.5
55.2

117.9
62.1
55.8

119.8
62.1
57.7

122.1
63.9
58.2

123. 2
64.4
58.8

124.7
65.4
59.3

*
Inventories, end of
quarter
Unadjusted
All manufacturing
Durables
Nondurables
Seasonally adjusted
All manufacturing. _ _
Durables
Nondurables- _ L _ _
Sales, total for quarter
Unadjusted

CHART 8

Inventory Condition1"

Seasonally adjusted

In September stocks judged "high"were relatively
large for metal producers and users, and
relatively small for nondurable goods producers
Percent of inventories
100

All manufacturing
Durables____
Nondurables

METAL PRODUCERS

1. Anticipations reported by manufacturers in November 1965. Inventories have been corrected for systematic tendencies
in anticipatory data.
Sources: U.S. Department of Commerce: Anticipations, Office of Business Economics; actuals, Bureau of the Census.

80

Nondurable goods producers expect
stocks and sales to increase

NONDURABLE GOODS MFRS.
100

1961
^End of quarter

1962

1963

U.S. Department of Commerce, Office of Business Economics




1964

1965

Nondurable goods producers expect
to add $% billion to stocks in the
fourth quarter of 1965 and $;4 billion in
the first quarter of 1966, after seasonal
adjustment. These increases would
bring the value of inventories to almost
$26 billion on March 31, 1966, $1 billion
above March 31, 1965.
Sales gains of 1 percent are expected
both this quarter and next, about the
same as the gain in the third quarter.
All the major nondurable goods industries are projecting small changes.
The stock-sales ratio for nondurable
goods is expected to be the equivalent
of 1.3 months of sales next March, the
same ratio as in September and most
earlier months of 1965 and a record low
for the postwar period. The low level
of the ratio is reflected in producers7
evaluation of their inventory condition.
Only 8 percent of inventories held by
soft goods producers were considered
"high" on September 30; this is 2
percentage points below the June proportion. Eighty-eight percent were in

the "about right" cagegory, and 4
percent were "low."
Table 2.—Manufacturers' Evaluation of the
Condition of Their Inventories 1
§
.
'
(Percent distribution)

•a/
III
s <C

Nondurables

Durables

Total

|
§
2

h
*%

h
s <<%

£\

|fcX)

3

15 83
22 76
15 83
17 81

3o

Mar. 31, 1960
June 30, 1960
Sept. 30, 1960
Dec. 31, 1960

26
29
24
24

72
69
75
75

2
2
1
1

33
34
30
27

65
65
69
72

2
1
1
1

Mar. 31, 1961
June 30, 1961
Sept. 30, 1961____ _
Dec. 31, 1961-— __

18 81
14 85
10 88
10 88

1
1
2
2

20
15
11
10

79
84
87
88

1 16
1 13
9
2
2
9

83
85
88
89

1
2
3
2

Mar. 31, 1962
June 30, 1962
Sept. 30, 1962
Dec. 31, 1962

14
14
15
14

84
84
83
84

2
2
2
2

19
17
18
17

80
82
81
82

1 8
1 9
1 11
1 11

89
89
86
86

3
2
3
3

Mar. 31, 1963
June 30, 1963
Sept. 30, 1963. — -Dec. 31,1963

15 82

3
2
2
2

17

81

2
2
1
2

12

85

3

Mar. 31, 1964... June 30, 1964_..._Sept. 30, 1964
Dec. 31, 1964..-.--

16 82
13 84
14
13

2
3
4
3

17
16

81
81
81
82

2
3
4
3

14 84
9 88
84
87

2
3

82
84

5
4

Mar. 31, 1965 „.._
June 30, 1965
Sept. 30, 1965

16
16
16

81
80
81

3
4
3

20
20
22

77
77
76

3
3
2

9 87
10 85
8 88

4
5
4

15
17
13

83
81
85

18
19
14
15
15

80
80
84

10
14
10
11
9

88
83
87

2
2
2
2

2
3
3

1. Condition of actual inventories relative to sales and
unfilled orders position as viewed by reporting companies.
Percent distribution of inventory book values according to
company's classification of inventory condition.
Source: U.S. Department of Commerce, Office of Business
Economics.

by SAMUEL PIZER and FREDERICK CUTLER

U.S. Exports to Foreign Affiliates of U.S. Firms
XPORTS from the United States
E
to the foreign affiliates of U.S. firms
showed a strong rise in 1964, which
outstripped the impressive overall gain
in U.S. exports last year. Exports to
the affiliates rose nearly 18 percent—
from $5.3 billion in 1963 to $6.3 billion
in 1964—while total U.S. exports rose
about 15 percent—from $22.1 billion
to $25.3 billion. Exports to the affiliates were 25 percent Of all U.S. exports
in 1964, as compared with about 24
percent in 1962 and 1963.
This ratio varies considerably from
area to area. Exports to affiliates
accounted for 46 percent of all U.S.
exports to Canada in 1964 and for about
one-third of all U.S. exports to Latin
America. For Europe, the ratio w$s
21 percent, but for "other'' areas—
Africa, Asia, and Oceania—it was 11
percent.
Since the exports to affiliates are not
likely to include significant amounts
of agricultural products, comparisons
with the total of U.S. nonagricultural
exports are probably more appropriate.
Shipments to the affiliates were onethird of total nonagricultural exports
in 1964, and the proportion has been
rising somewhat since 1962, when regular collection of this information began.
In 1964, the increase of about 15 percent in total nonagricultural exports
was also under the rate of increase in
exports to affiliates.
These figures confirm the finding in
the first report on this subject (published in the December 1964 SURVEY),
that export sales to or through foreign
affiliates of U.S. firms are a major element in total U.S. exports. However,
as the earlier article pointed out, the
establishment of foreign producing and
trading units has had very complex
direct and indirect effects on U.S.
12




in the United States by foreign affiliates
but not charged through the parent
firms. Although reporting firms attempt to obtain information on these
exports either from the affiliates or from
other records, the coverage is probably
somewhat incomplete, and it is impossible to identify the types of exports
involved. Finally, the parent companies supply information on exports
for sale on a commission basis by the
foreign affiliates.
By far the largest class of exports to
affiliates is composed of products resold
by the affiliates without further manufacture. In 1964, these amounted to
Types of exports
$2.8 billion, 44 percent of the total, or
2
percentage points less than the year
The reports on exports supplied to
before.
Such exports are a substantial
affiliates by U.S. parent companies call
portion
of
exports to manufacturing
for separate identification of several
affiliates,
about
35 percent, and also, of
types of exports, partly to assist in
course,
comprise
most of the exports to
analyzing the nature of the transactions and partly to insure complete and distributing affiliates abroad.
In some countries, the manufacturing
consistent coverage. Most of the exports reported are those that are affiliates function also as marketingcharged to the affiliates on the parent agents, while in others a separate discompanies' own books. (See table 1.) tributing affiliate may be established.
(These may be products of the parent The distributing affiliates are usually
firms or goods purchased by the parents owned by the same group of U.S.
for the account of the foreign affiliate; manufacturing firms that have manuall but a small part are shipped by the facturing affiliates abroad. The two
parent firms.) The reporting firms types of affiliates often have overlapare asked to provide a breakdown of ping functions as marketers of products
these exports showing the amount to of the same parent company or of other
be used by the affiliates in processing or U.S. manufacturers. For this reason,
assembly abroad, the amount to be it is necessary to combine the exports
resold by the foreign affiliates with to these types of affiliates, as at the
little or no further processing, and the bottom of table 2, to obtain a full
amount that represents capital equip- account of the exports of U.S. manument for investment use by the foreign facturing firms through their foreign
affiliates. There is also a relatively affiliates.
Exports to foreign affiliates for fursmall amount of exports charged on the
parent company books that cannot be ther processing or assembly are also
substantial—$1.8 billion in 1964— and
identified by type.
A second large class of exports shown are connected primarily with foreign
in table 1 is made up of goods purchased manufacturing operations. Over half

trade and on the total balance of payments. While the foreign affiliates are
important purchasers of U.S. goods,
both for their own use in production
and for resale in foreign markets, they
also now supply directly a considerable
part of the foreign demand for a wide
range of manufactured products. It is
impossible to measure the extent to
which foreign sales of affiliates might
be substituting for potential U.S. exports, or to determine the amount of
goods now exported through affiliates
that might in any case have been exported through other channels.

SURVEY OF CURRENT BUSINESS

December 1965

of the exports to manufacturing affiliates in Latin America are of this kind,
largely imports by the transportation
equipment industry. (See table 2.)
Canadian and European manufacturing
affiliates also import sizable amoulits for
use in production.
CHART 9

Exports From U.S. to Foreign
Affiliates17, All Industries
Billion $

BY TYPE

Manufactures ,
for Sate Abroad

13

A third large class of exports is made eluding sizable amounts purchased
up of goods purchased in the United directly in the United States by CanaStates directly by the foreign affiliates— dian firms. Exports to Canadian manin contrast to the exports charged on ufacturing affiliates rose substantially
the parent company books. Such ex- in 1964, but at a slower rate than those
ports rose sharply, from $0.6 billion in to affiliates in other areas. Exports to
1963 to $0.8 billion in 1964, with half European manufacturing affiliates, next
of the increase due to larger purchases in size, scored a 25-percent increase,
here by Canadian affiliates. Informa- which was spread over several industion on the types of goods purchased trial categories.
Petroleum companies reported exby the affiliates is not provided; these
may range from crude materials to ports of $0.5 billion to their affiliates in
1964, little changed since 1962. The
capital equipment.
Exports of capital equipment to the largest category of exports to petroleum
affiliates for use in their own invest- affiliates consisted of products for resale
ment programs rather than for resale without further manufacture, probably
rose to $0.3 billion in 1964 from $0.2 tires, accessories, and parts, as well as
billion in 1963. The large relative in- lubricants and other petroleum prodcrease was part of the substantial $1.0 ucts. Exports to affiliates in other
billion gain in plant and equipment industries—mining, agriculture, and
expenditures of the foreign affiliates in
1964, but the reported use of U.S. capital equipment remained small in relaExports of Manufactures From the U.S.
tion to the $6.1 billion of plant and
and Sales of Foreign Manufacturing
equipment expenditures by these forAffiliates
eign affiliates last year.
Sales of foreign manufacturing affiliates
and
Exports by industry
exports of manufactures to foreign affiliates
are
rising faster than total comparable exports
The industry classifications of exports
used in this report are based on the Billion $ (ratio scale)
- ,, . , • >• ,
industry of the foreign affiliates. The .50
affiliates are nearly always in the same
industries as their U.S. parents, the 40
• ;Sa|esdf F0feigi), : ' \ .
major exception being the foreign dis;Manufaqtur(fig Affiliates
tributing affiliates of U.S. manufac- 30
turers mentioned above.
Most of the exports to affiliates are
accounted for by U.S. manufacturing
20
firms. In 1964, they exported $5.4
billion out of $6.3 billion exported to
affiliates, including $1.4 billion sent to
U,S, Exports of Comparable Manufactures*;
their distributing affiliates abroad and
nearly $4.1 billion exported to manufacturing affiliates in a wide range of 10
industries.
A breakdown by industry of the $4.1
billion of exports to manufacturing
affiliates (table 2) shows that $1.3
billion went to affiliates producing
Exports to Manufaettif ing an'd <
transportation equipment, $1.1 billion
Distributing Affiljajes Abroad**
to those producing machinery, including
electrical machinery, and $0.6 billion to
those producing chemicals.
With only a few minor exceptions,
exports to manufacturing affiliates in
59
61
63
65
1957
each of the major areas of the world * Excludes items not produced abroad by U. S. companies in significant amounts.
based on sample reports and represent primarily parent company sales.
rose in 1964. Nearly half of the ex- ** Estimates
Includes sales through foreign affiliates that are primarily distributors of products
of U.S. parents.
ports in manufacturing in recent years
65-12-10
have gone to affiliates in Canada, in- U.S. Department of Commerce, Office of Business Economics
!

BY AREA

Billion $
-^Based on reports of parent companies. Excludes exports sold by foreign affiliates
on a commission basis.
U.S. Department of Commerce, Office of Business Economics




65-12-9

14

SURVEY OF CUREENT BUSINESS

utilities—were relatively small in 1964
at $0.4 billion, though there was a
sizable increase over the 1963 amount.
Exports related to foreign sales

One of the significant aspects of the
growth of foreign manufacturing affiliates, which may be viewed as extensions
of the production activities of U.S.
parent firms, is the connection between
sales by the foreign affiliates and imports by those affiliates of materials,
parts, or resale items from the United
States. Table 3 shows that in tfift 3
years 1962-64, the value of exports
from the United States has held steady
at about 9% percent of the value of sales
of the affiliates.
For most of the major areas and
types of manufactures shown in the
table, the ratio has not changed much.
There has been a gradual rise in exports to European manufacturing affiliates relative to their sales, though in
1964 the ratio—5.5 percent—was still
the lowest for any area. Thus, while
sales of the European manufacturing
affiliates rose by $2.8 billion in 1964,
U.S. exports to these affiliates rose by
$185 million.
The ratio for manufacturing affiliates
in Canada—15 percent—is larger than

the ratio for those in other areas.
The share of the transportation industry has been substantial, but it
declined in 1964 and may decline
further now that the automobile companies have agreed to use more parts
produced in Canada.

December 1965

and Oceania do not yet have an important role in the exports of U.S.
manufactures, though their share has
increased since 1962.
The second comparison given in
table 4 relates exports to these affiliates
to total exports of the U.S. parent
manufacturing companies to countries
in which they have such affiliates.
This proportion was 78 percent in
1964, as compared with 69 percent in
1962. The proportion is quite high in
every area of the world, and has been
rising since 1962 in every area except
Canada.
It is clear from these figures that
once a manufacturing or distributing
affiliate has been established in a
country, most of the parent company
exports to that country are directed to
or through the affiliates. The data now
being collected on this subject, and to
be collected in the future, should be
helpful in studying trends in U.S.
exports to these countries, as compared
with exports to countries in which
activities of manufacturing or distributing affiliates are not established.

Relationship to parent company exports of manufactures

Table 4 gives some additional measures of the importance of foreign manufacturing and distributing affiliates in
total exports of manufactures from the
United States. Part I compares exports to foreign manufacturing and
distributing affiliates with the total
exports of comparable manufactures
from the United States. It shows that
the ratio has risen gradually since 1962
to 35.3 percent in 1964. The ratio for
Canada is particularly high—61 percent
in 1964. This high ratio reflects the
fact that most U.S. manufacturing
companies active in exporting have by
now established Canadian affiliates.
In Europe, and also in Latin America,
foreign affiliates have a significant role
in exports of manufactures, handling Methodology
about one-third of U.S. exports of
A description of the sources and
manufactures to these areas. On the
other hand, affiliates in Asia, Africa, methods used in deriving these esti-

Table 1.—Exports to Foreign Affiliates of U.S. Companies, by Type of Export, and by Area and Industry of Affiliate, 1962-64
(Millions of dollars)
Exports charged on parent company books
Total exports

For processing or
assembly

For resale without
further
manufacture

1962

1963

1964

1962

1963

1964

1962

1963

Total, all areas
Petroleum
Manufacturing
_ _ ___
Trade !
__• _ _ _
Other industries-.

4,923
446
2,992
1,232
253

5,342
430
3,404
1,242
267

6,290
480
4,068
1,371
372

1,211
20
1,082
83
25

1,481
24
1,370
64
24

1,752
30
1,589
98
35

2, 316
214
1,102
941
59

2,454 2,774
204
207
1,174 J2,403
998 1,050
75
118

Canada, total.
Petroleum
Manufacturing
Trade..
______
Other industries

1,694
29
1, 426
234
5

1,885
24
1,615
240
7

2, 169
31
1,840
283
15

521
2
489
29
1

636
1
606
28
1

665
2
628
33
2

678
16
506
153
3

717
12
535
167
2

861
14
659
184
4

Latin America, Total—.
Petroleum
Manufacturing
Trade
Other industries

1,049
• 122
506
310
110

1, 190
126
588
353
122

1, 400
145
703
405
147

259
7
227
8
17

317
6
279
12
20

410
3
360
29
18

431
41
133
255
2.

443
41
127
272
3

Europe, total
Petroleum
Manufacturing __ _
Trade.Other industries

1,541
127
721
610
83

1,507
119
811
472
105

1,813
131
1,029
493
160

288
6
239
42
1

356
10
326
18
2

481
19
428
25
9

951
85
331
483
52

639
167
339
79
54

759
160
390
176
33

908
174
496
190
49

144
5
128
5
6

171
6
159
5
1

195
6
174
10
5

255
71
132
50
2

Other areas, total
Petroleum
M anuf acturing
Trade
Other industries—

_

*Less than $500,000.
1. Mainly distributing affiliates of U.S. manufacturing companies.




Exports not
identified
by type

Capital
equipment for
investment use

Exports purchased
in U.S. directly
by foreign
affiliate

Exports sold by
foreign affiliates
on a commission
basis

1964

1962

1963

1964

1962

1963

1964

1962

1963

1964

1962

1963

329
72
167
31
58

234
51
123
7
53

345
59
198
16
72

162

179
83
33
(*)
62

181
83
24
(*)
74

561
27
442
60
32

570
29
459
59
23

768
53
578
99
38

344
37
177
104
27

423
35
245
113
30

469
51
275
108
35

42
1
41

58
(*)
56
1
1

24
(*)23

8
(*)
8

423
10
368
44
1

526
15
438
65
8

15
(*)
14
1

45

50

8

39
1
37
(*)
1

45
50
(*) . ' ( * )

500
48
141
309
2

112
31
42
7
32

88
25
22
4
37

126
27
36
7
56

893
79
355
392
67

977
76
408
385
108

75
4
54
15
2

47
6
37
3
1

65
4
54

401
76
157
166
2

435
66
195
171
3

101
37
31
9
24

60
19
27
(*)
14

1964

76
21
13
53

12
(*)

1

(*)

419
10
370
38
1

86
36
9
(*)
41

101
51
4
(*)
46

99
37
9
(*)
53

64
5
25
16
18

72
2
42
13
15

118
26
47
29
16

98
2
71
25
(*)

169
1
114
52
2

146
4
110
31
1

14
6
5
(*)
3

43

(*/

12
5
5
'(*)
2

34
6
2

43
2
36
(*)
5

78
3
66
(*)
9

173
25
58
64
26

155
16
52
59
28

198
23
69
75
31

96
29
51
1
15

47
43
34
27
2
1
(*) ~~~14~
12

60
40
3
(*)
17

35
•10
13
1
11

31
15
12
2
2

46
9
27
5
5

57
10
34
13

53
18
33
2

75
23
46
2
4

18

(

\

11
6
4
__

NOTE: In this and subsequent tables, detail may not add to totals because of rounding.
Source: U.S. Department of Commerce, Office of Business Economics.

SURVEY OF CURRENT BUSINESS

December 1965

mates of exports to foreign affiliates
of U.S. companies was given on page 26
of the December 1964 SURVEY OF
CURRENT BUSINESS. Since that time,
the coverage of the underlying reports
on Form BE-134 has been moderately improved. Also, in the present
article, the data reported by the mining

and petroleum industries have been
expanded by the small amount necessary
to reach estimated universe totals.

15
SURVEY should be corrected as follows :
Exported
to U.S.

Local sales

Errata in November 1965, Survey—•

1962

1963

All areas, total- 23, 132 26,060

Certain of the figures given in table 5,
page 19, of the November 1965

Canada, total- 7,601

Exported
to other
countries

1962

1963

1962

1963

1,150

1,301

3,641

4,408

890

1,019

705

734

8,410

Table 2.—Exports to Foreign Manufacturing and Trade Affiliates of U.S. Companies, by Type of Export, and by Area and Industry of
Affiliate, 1962-64
(Millions of dollars)
Exports charged on parent company books
Total exports
For processing or
assembly

Manufacturing, all areas, total
Food products
Paper and allied products
Chemicals
Rubber products

_ _ _

Primary and fabricated metals.
Machinery (except electrical)
Electrical machinery •_ _ _ _
Transplrtation equipment
Other products

1962

1963

2,992
158
30
551
120

3,404 4,068
113
165
42
57
546'
638
147
156

1964

Exports not
For resale without , Capital equipment
further manufacture for investment use identified by type

1962

1963

1964

1962

1963

1964

1,082
31
18
134
70

1,370
32
24
152
69

1, 589
54
26
213
74

1,102
64
3
266
45

1,174
37
2
212
50

1,403
42
2
212
50

167
9
2
21
5

123
3
2
10
15

198
6
4
15
20

21
1
(*)
1

33
1
(*)
4

24
1
(*)
5

442
38
6
47

459
13
11
63
9

578
33
15
70
8

177
16

8
38

11
52
5
63
23

2
(*)
1
12
4

3
1
6
19

3
(*)
(*)
10
5

4
70
44
221
12

10
60
60
195
39

12
78
66
242
54

56
1
(*)

6
(*)
(*)
(*)

23
(*)
(*)
(*)

8

370
30
6
21

368
3
11
18
9

438
22
12
31
8

1962

1963

1964

1962

1964

1963

1962

135
540
266
937
256

144
609
299
1,115
390

189
730
357
1,293
484

49
151
95
417
118

58
164
137
586
148

81
205
155
597
184

43
266
107
215
94

41
333
89
260
149

51
372
126
352
195

10
38
5
57
20

1,426
69
18
194
19

1,615
29
21
184
45

1,840
.53
27
207
46

489
16
8
54
9

606
14
8
55
11

628
18
10
54
12

506
23
3
117
10

535
12
2
98
17

659
11
2
101
19

41
(*)
(*)
1

37
1
(*)
(*)
3

Primary and fabricated metals
Machinery (except electrical)
Electrical machinery.
Transportation equipment.
Other products
.. _

70
251
162
529
114

66
291
200
593
186

74
331
245
651
205

25
40
55
238
45

24
44
83
307
60

28
52
101
280
73

31
127
67
80
47

27
170
56
85
69

30
180
83
150
84

8
10
1
12
7

4
7
2
19
2

7
12
1
28
3

Latin America, totalFood products ...
Paper and allied products
Chemicals
Rubber products.. _ _ _ _ . . ___ _

506
41
9
158
30

588
49
13
167
29

703
64
12
181
29

227
8
•8
41
21

279
10
11
51
17

360
23
6
69
19

133
7

127
10

141
10

39
7

25
6

26
5

42
5
1
17
3

22
1
2
2
5

36
3
2
5
5

7
35
42
165
20

8
30
22
244
26

18
41
30
289
40

6
10
21
101
11

7
6
18
148
12

13
7
19
190
14

1
25
16
37
2

(*)
21
2
60
4

3
27
7
60
4

(*)
(*)
3
7
5

2
3
1
2
4

2
6
1
9
4

355
15

408
21

68
24

63
22

54
1
(*)
1

37
(*)
(*)
5
6

54
1
(*)
6
8

9
82
26
70
61

15
88
26
84
89

2
22
(*)
20
6

1
18
(*)
3
3

1
22
3
4
10

(*)
(*)
(*)
2
2

2
2

27
1
(*)
3
1

51
2
2
2
4

1
(*)

2
(*)

(*)

(*)

(*)

(*)

(*)

Canada, total
Food products _ .
Paper and allied products
Chemicals
Rubber products

Primary and fabricated metals
Machinery (except electrical)
Electrical machinery
_.
Transportation equipment __ _ _.
Other products
Europe, total.
Food products
Paper and allied products
Chemicals
Rubber products

__

Primary and fabricated metals
Machinery (except electrical)
Electrical machinery
_
Transportation equipment
Other products
Other areas, total
Food products
Paper and allied products
Chemicals
Rubber products

_ .

Primary and fabricated metals
Machinery (except electrical)
Electrical machinery ___
Transportation equipment
Other products
Trade, all areas, total 1
Canada
Latin America
Europe
Other areas

_;

Manufacturing and trade, total..
Canada. _
Latin America.. __ _
Europe
Other areas

721
40
(*)•
147
53

811
30
6
149
55

1,029
41
10
189
62

(*);
28

27
174
53
134
93

38
191
63
160
120

339
9
2
51
18

239
3

.

331
31
(*)
80
26

28
14

3

26

326
4
, 3
30
26

428
8
5
68
32

53
232
66
204
172

17
80
16
24
. 45

27
89
31
65
52

35
114
30
68
68

390
5
3
47
18

496
8
7
61
20

128

174
4
5
23
11

132
3

157
(*)

195
1

2
10
14

159
3
2
17
.15

30
3

.21
3

22
5

31
3
(*)
1
1

32
79
10
109
29

30
96
14
119
58

44
126
15
149
67

2
21
3
54
17

(*)
25
5
67
24

4
32
5
60
30

4
52
3
33
5

5
60
6
46
16

4
77
10
58
18

(*)
6
(*)
18
2

1
11
1
4
5

2
12
1
21
6

1,232
234
310
610
79

1,242
240
353
472
176

1,371
283
405
493
190

si

98
33
29
25
10

941
153
255
483
50

998
167
272
392
166

1,050
184
309
385

i7i

31
(*)
7
15
9

7

29
8
42
5

64
28
12
18
5

(*)

16
1
. 7
7
1

4,224
1,660
816
1,331
418

4,646
1,855
941
1,283
566

5,439
2,123
1,108
1,522
686

1,166
518
234
281
133

1,434
634
291
344
164

1, 687
661
389
453
184

2,043
659
388
814
182

2,172
703
399
747
323

2,453
843
450
793
366

198
41
49
69
40

130
37
26
40
27

214
57
43
61
52

7
62"
21
65
39

*Less than $500,000.
1. Mainly distributing affiliates of U.S. manufacturing companies. Data are the same as
in table 1.




Exports purchased
Exports sold by
in U.S. directly by foreign affiliates on
foreign affiliate
a commission basis

(

*\3

'ft

1964

1963

1962

1963

1964

245
28
3
105
4

275
29
9
124
5

26
15
15
14
8

25
13
8
39
21

30
23
5
28
23

14

45

50

1

12
4

2
20
5

(*)
12
4

15
(*)

83

1

2

3

1
2
1

1
3
17

(*)
3
1

4
66
38
197
9

9
59
55
180
25

7
72
60
190
36

5

13

9

9

4

9
(*)

25
8

42
10

47
10
3

71
12

114
18

1

3

4

12

25

17

49

61

110
18
2
60

*\8

(*)
2
33

2
2
20
7

52
10
3
31

69
11
5
38

(*)
(*)

(*)
(*)

8
4
(*)

(*)
(*)
13
12
(*)
(*)
33
18
9
4
1

(*)
5
(*)
1

(*)

4
1

-83

1

(*)

8

i6

7
10
66
1
(*)

5
(*)

34

36
(*)

(*)

7

15

(*)

(*)

(*)

2
2

5
17
1

4
15
2

3

13

12
1

8

5

—--1

1

(*)

(*)

8

8
(*)

60
38
16
6
1

33
23
4
5
2

24
8
9
5
3

502
408
41
40
14

8

(

(*)
58
4

14

31

1
4
5
38
3

(*)
6
11
6
(*)

(*)

(*)

2
6
(*)

(*)

27
1
(*)

34

33

46

8

3

1

6

4
2

24
'(*)

4
3
8

«

".
5

26
(*)
3
(*)
2

7

7

59
44
13
(*)
2

99
65
29
(*)
5

104
1
25
64
13

113
(*)
52
59
2

108
(*)
31
75
2

518
412
55
36
14

677
503
76
66
32

281
15
96
122
47

358
45
166
111
35

383
50
141
144
48

(*)

(*)

(<)

Source: U.S. Department of Commerce, Office of Business Economics.

i

30
2
(*)

SURVEY OF CURRENT BUSINESS

16

December 1965

Table 3.—Exports to Foreign Manufacturing Affiliates Compared With Affiliates' Total Sales, by Area and Industry of Affiliate, 1962-64
(Amounts in millions of dollars)
All areas, total

Manufacturing, total : 1
Exports to affiliates
Sales of affiliates 2
Ratio
Food products:
Exports to affiliates...
__„ _ _
Sales of affiliates
__
Ratio
Paper and allied products:
Exports to affiliates..
<_ _
s
Sales of affiliates
Ratio
Chemicals:
Exports to affiliates
Sales of affiliates
Ratio
_ _
Rubber products:
Exports to affiliates
Sales o f affiliates
' _ _ _ _ . _
Ratio
Primary and fabricated metals:
Exports to affiliates
_ _
Sales o f affiliates.... _
_ _ _ _ _
Ratio
Machinery, excluding electrical:
Exports to affiliates.
_._
__
__ _
Sales of affiliates
Ratio
Electrical machinery:
Exports to affiliates
Sales of affiliates
_
Ratio
- Transportation equipment:
Exports to affiliates
Sales of affiliates
Ratio
Other products:
Exports to affiliates
Sales of affiliates
__ _ _ _ _
_
Ratio

Canada

Latin America

Europe

1962

1963

1964

1962

1963

1964

3,594
37, 270
9.6

1,370
9,196
•14-9

1,532
10, 163

1,733
11,450
15.1

394
4,067
9.7

452
4,396
10.3

556
609
5,100: 12,020

•8.8

130
3,980
3.3

69
1,135
6.1

28
1,182

2.4

52
1,280
4-1

23
850
8.7

28
1,180
8.4

37
1,299
&8

44
1,510
8.9

18
945
1.9

21
1,009
8.1

25
1,145
2.2

8
100
8.0

447
4,400
10.2

431
5,152
.8.4

499
5,945
8.4

191
1,295
•14.7

172
1,427
18.1

186
1,585
11.7

115
1,332
8.6

128
1,360
9.4

132
1,605

18
340
6.8

37
355
.10.4

98
2,053
4.8

148
2,840
5.8

62
1,090

5.7

487
3,359
14.5

111
2,373
W
557
3,727
14- 9

655
4,650
14.1

247
2,571
9.6

288
2,801
10.3

866
6,680
13.0
227
2,938

1962

1963

1964

2,648
27,923
9.5

3,036
31,769
•9.6

133
3,410
3.9

82
3, 712

7.7

1962

Other areas

1963

1964

1962

1963

1964

10. 9

5.1

722
14,015
6.8

906
16,500
5.5

275
2,640
10.4

330
3,195

10.8

399
4,220
9.5

30
990
3.0

42
950

35
1,185
3.0

20
1,265
1.6

30
1,450
8.1

6
240
8.6

4
275
1.5

6
300
8.0

8.5

11
130

9
145
6.8

"so

3
95
8.8

5
130
'8.9

2
55
8.6

2
65
8.1

6.6

92
880
10.5

104
1,060
9.8

115
1,250
9.8

115
1,760
.6.6

112
2,065
6.4

145
2,250
6.4

48
465
10.8

43
600
7.8

53
860
6.2

38
400
9.5

27
302
8.9

24
310

7.7

24
355
6.8

52
460
11.8

49
430
•11.4

54
540
10.0

17
230
7.4

18
265
6.8

16
310
6.8

62
1,198
6.8

68
1,330

5.1

6
163
3.7

7
195
3.6

16
270
6.9

25
715
8.6

37
840

4.4

52
1,030
5.0

6
85
7.1

5
140
3.6

6.7

233
810
28.8

273
916
29.8

304
1,030
29.5

35
144
84-8

27
166
16.3

34
230
14-8

146
2,090
7.0

172
2,265
7.6

206
2,890
7.1

23.2

22.4

88.8

347
3,340
10.- 4

160
851
18.8

195
891
21.9

244
1,060

38
360
10.6

20
280
7.1

27
380
7.1

42
1,220

3.4

61
1,480
4.1

61
1,700
8.6

7
140
5.0

12
150
8.0

15
200
7.6

1,048
8,070
13.0

1,201
9,480

517
1,730

573
2,110

623
2,420

25.7

150
790
19.0

208
760

27.4

260
960

27.1

108
3,280
8. 8

151
4,150
3.6

191
4,700
'4.1

91
880
10.3

115
1,050
11.0

127
1,400
9.1

355
3, 275
10.8

438
3,920
11.2

102
1,000
10.8

171
1,075
15.9

193
1,200
16.1

15
478
8.1

22
505
4.4

29
560
•6.8

86
1,230
7.0

117
1,425
8.8

162
1,810
9.0

25
230
10.9

45
270
16.7

54
350
15.4

8,2,

12.7

16.1

29.9

27.2

23.0

4-4

73
315

85
380

5
90

12
210
111
500

2. Represents estimated total sales of foreign manufacturing affiliates.
Source: U.S. Department of Commerce, Office of Business Economics.

* Less than $500,000.
1. Excludes exports of capital equipment for use by foreign affiliates and exports for sale by
the foreign affiliate on a commission basis. For 1964, total exports to affiliates (table 1) were
$4,068 million, including $198 million of capital equipment and $275 million of commission sales

Table 4.—Exports to Foreign Manufacturing and Distributing Affiliates, Compared with Selected Exports from the U.S., by Area, 1962-64
(Amounts in millions of dollars)
All areas, total
1

Canada

Other areas

Europe

Latin America

1962

1963

1964

1962

1963

1964

1962

1963

1964

1962

1963

1964

1962

1963

1964

2,767

2, 618

3, 086

3,680

4,028

4,752

3,324

3,649

4, 117

Parti:
1. Selected exports from U.S.1

12, 570

13,266

15, 426

2,799

2,1971

3,471

2. Exports2 to foreign manufacturing affiliates of U.S.
firms
3. Exports2 to foreign distributing affiliates of U.S.
firms __
___
_ _ _ _

2,992

3,404

4,068

1,426

1, 615

1,840

506

588

703

721

811

1,029

339

390

496

1, 232

1,242

1,371

240

283

310

353

405

610

472

493

79

176

190

4. Total exports to manufacturing
and distributing affiliates of U.S. firms 2
5. Ratio of line 4 to line 1

4,224
33.6

4,646
35.0

5,439
35.3

1,660
59.3

1,855
62.4

2,123
61.2

816
29.5

941
35.9

1,108
35.9

1,331
36.2

1,283
31.9

1,522
32.0

418 .
12.6

566
15.5

686
16.7

4,680
3,242
69.3

- 4, 959
3,822
77.1

5,773
4,510
78.1

1,455
1, 231
84.6

1, 696
1,491
87.9

2,085
1,605
77.0

1,002
669
66.8

936
701
74.9

1,066
922
86.5

1,636
1,060
64.8

1,579
1,245
78.8

1,800
1,430
79.4

587
282
48.0

749
385
51.4

822
553
67.3

234 .

Part II:
6. Total exports of U.S. parent companies to countries
in which parents
have manufacturing or distributing affiliates 3
7. Exports to affiliates included in above 4
8. Ratio of line 7 to line 6
__

1. Includes all manufactured and semi-manufactured goods except civilian aircraft, scrap
metals, mineral fuels and related material, animal fats and oils, grain preparations, and hides
and leather. Also included are dairy products, meat and preparations, fruit, nuts, and
vegetables, and animal feed. .,
•
2. These exports are not reported by commodity class, but are believed to be comparable to
the types of U.S. exports included in line 1.
3. This includes all shipments consigned to residents of the foreign countries in which U.S.




parent companies have affiliates; exports of parent companies to other countries, or sold
through U.S. intermediaries, are not included.
4. This amount is less than the amount reported in line 4, because the latter includes goods
purchased directly in the U.S. by the affiliates, capital equipment and other items charged on
parent company books but not necessarily exported by a reporting company, and sales on a
commission basis of U.S. goods produced by non-affiliated U.S. firms.
Source: U.S. Department of Commerce, Office of Business Economics.

by WALTHER LEDERER and EVELYN M. PARRISH

The Balanee of International Payments Dnri|| the Third Quarter
THE major development in the international transactions of the United
States during the third quarter was a
rise in the net outflow of U.S. capital
by $450 million, after allowance for
seasonal changes. Exports and imports
increased by small but
almost
equal amounts. Military expenditures
abroad rose, and income from foreign
investments was reduced. Sales by
foreigners of U.S. corporate securities
continued to be close to the exceptionally high rate recorded in the second
quarter. Net advances on military
sales contracts, which were a major
favorable factor in the second quarter,
dropped sharply, but receipts were increased by a major advance loan repayment by France.
The counterpart to these transactions
was a drop in U.S. reserve assets and
an increase in foreign holdings of
liquid dollar assets with a combined
total of $485 million. This compares
with a favorable balance of $240 million
in the second quarter and an adverse
balance of $2.8 billion in 1964. (See
table 1A, line 1.)
About $745 million of the rise in
foreign holdings of liquid dollar assets
during the third quarter was reported
for foreign private accounts and for
international organizations other than
the International Monetary Fund.
Omitting the rise in these liabilities, the
balance composed of changes in U.S.
official reserve assets and of liquid assets
held in the United States by foreign
official agencies only was favorable by
$260 million, as compared with $210
million in the previous quarter and an
adverse balance of $1.2 billion in 1964.
(See table 1A, line 11.) This alternative concept for measuring the balance
on the basis of official reserve transactions—described later in the article—is
the one recommended by the Review




Committee on Balance of Payments
Statistics to the Bureau of the Budget
last spring; it will henceforth appear
along with the balance based on the
liquidity concept carried hitherto in the
official balance of payments statistics.
Merchandise Trade
Both merchandise exports and imports, after adjustment for seasonal
changes, rose to peak rates in the JulySeptember period, with little change in
the balance. (See table 1, lines 2
and 28.)
Changes in U.S. trade during 1965
are difficult to evaluate, however, without some adjustments for the effect of
two major strikes affecting international
transportation.
The longshoremen's
strike last winter resulted in major
shifts of shipments from the first to

the second quarter of 1965 and, to some
extent, to the last quarter of 1964.
The crewmen's strike against eight of
the major U.S. shipping lines, which
lasted from mid-June until the end of
August, had less effect on the quarterly
figure because many shipments were
diverted to foreign lines, and cargo that
had been tied up could be moved in
September.
After adjustment for the effects of
these strikes, exports, at seasonally
adjusted annual rates, dropped from
$25.7 billion in the second half of 1964
to $25.2 billion in the first half of
1965 and increased to $27.1 billion in
the third quarter. The corresponding
figures for imports were $19.1 billion,
$20.4 billion, and $22.0 billion.
The adjusted export figures suggest
that exports not only have passed the

CHART 11

Trends in Merchandise Trade
Billion $

Billion $

7.5

30

Exports^
20

Sipping Strikes!
Imports

-, — "T ^:~^ .

10 •

"2.5

NET EXPORTS

1955

57

59

63

65

1963

1965
Quarterly, Seasonally Adjusted

U.S. Department of Commerce, Office of Business Economics
17

SURVEY OF CURRENT BUSINESS

18

December 1965

Table 1.—International Transactions, Excluding Military Grant Aid, Seasonally Adjusted
(Millions of dollars)
Calendar year

1964

1965

1963

1964

I

II

III

IV

III »

II r

Ir

I. Imports of goods and services, unilateral transfers,, andUfct increase in U.S. assets—
recorded
Total, net payments (debits)

_ _

.

34,932

39,150

9,218

9,195

9,737

11,000

8,877

9,645

9,932

1. Imports of goods and services

26, 436

28, 457

6,878

7,061

7, 136

7,382

7,157

8,097

8, 176

2.
3.
4.

Merchandise, adjusted, excluding military
Transportation
Travel
.

16, 992
2,316
2,090

18, 619
2,464
2,216

4,410
613
535

4,599
616
554

4,709
613
550

4, 901
622
577

4,663
618
603

5,469
675
617

5, 521
681
621

5.
6.

Miscellaneous services:
Private
_ _ _
Government, excluding military

391
447

396
534

98
149

99
128

98
128

101
129

104
133

95
135

86
138

7.

Military expenditures

2,929

2, 824

732

720

691

681

662

702

735

8.
9.

Income on investments:
Private
Government

871
400

952
452

230
111

235
110

238
109

249
122

252
122

287
117

276
118

575
262

560
279

142
67

137
66

135
72

146
74

151
73

157
133

153
82

4,551

4,260
3, 558
702

966

1, 085

831
135

1,083
897
186

902
183

1,126
928
198

970
788
182

1,160
963
197

1, 137

3, 717
834

-644
-326

-575
-122

-161
-52

-160
-33

-160
-30

-94
-7

-163
-10

-196
-5

-215
-183

4,456

6,462

1,327

1,344

1,569

2,222

1, 541

367

822

1,976
1,250
-195
49

2,376
1,063
-193
-193

464

124
-54
-94

540
183
-38
" -40

551
157
-38
-35

821
599
-63
-24

1,159
299
-55
-34

891
225
-51
-103

515
393
-42
-68

754
-163

942
356

272
26

93
58

264
264

313
8

483
-14

-178
7^

66
7

781
4

1,523
588

383
206

523
25

162
244

455
113

-43
-254

-171

51

-303

-70

151

-842

. ^

_ ^

_•_.„•'

10 Private remittances
11. Government pensions and other transfers
12.
13.
14.

Government grants and capital:
Outflows (table 3, lines 28+39+42)
( Transactions involving no direct dollar outflows from the United States)
(Dollar payments to foreign countries and international institutions)1.- _ _

15
16

Repayments on U.S. Government loans (credits — ):
Scheduled
Nonscheduled and selloffs

17 Increase in U S private assets, net (decrease — )
18.
19.
20
21.

Direct investments
_
Foreign securities newly issued in the U.S
Redemptions
Other foreign securities

22.
23

Other long-term claims, net:
Reported by U.S. banks
Repoited by others

24
25.

Other short-term claims, net:
Reported by U S banks
Reported by others

_ _ _ _ __
_ _ _ _ _

_ _

_ _ _ _

-

_ __

26 Increase in U S official reserve assets net (decrease — )

-378

'

:

:

937
200

-193
-231

-8
-41

-68

-40

II. Exports of goods and services, and net increase in foreign assets in the U.S.—recorded
Total net receipts (credits)

35,333

40,311

9,506

9,347

10,028

11,430

8,880

9,722

10,216

27. Exports of goods and services

32,353

37, 017

'9,084

8, 991

9,335

9,607

8,665

10,092

10,026

_ • _ _ _ •

22, 069
2,793

25, 288

2,812

6,149
671

6,067
683

6,382
742

6,690
716

5,586
571

6,748
740

6,806
769

-

2, 115
934

2,317
1,095

.

571
268

558
264

600
270

588
293

530
281

617
298

618
305

660
1,027
235
659

756
1,081
261
762

179
267
60
194

175
276
65
191

192
265
66
168

210
273
70
209

208
269
68
174

209
274
71
229

217
274
69
210

3,134
1,022
498

3,741
1,262
454

968
298
130

955
308
132

946
314
132

872
342
60

1,058
352
139

1,138
362
146

1,049
347
131

2,980
—5
282
62
-13
-24

3,294
-5
-84
236
-37
115

422
17
-42
36
-5
4

356
29
14
51

•(%

693
-27
-30
14
-29
64

1,823
-24
-26
135
-3
28

215
89
35
152
5
-7

-370
-31
-255
43
-4
60

190
39
-241
-49
11
30

334
94
1

222
49
207

163
-8
4

-62
35
-1

-28
4
204

149
18
(•)

69
4
1

133
-10
6

-19
-21
-5

-8

-2
»

-1
30

48
231

-116
639

904
613

-200
67

-273
-37

-300
745

-152

-291

-430

-3

-77

-284

28
29.

Merchandise adjusted excluding military
(Financed b y Government grants a n d capital)

30
31.
32.
33
34.
35

Transportation
Travel
'
Miscellaneous services:
Private:
Fees and royalties from direct investments
Other
Government, excluding military
_ __
Military sales 2

36
37.
38

Income on investments:
Direct investments
Other private
Government

_

39 Increase in foreign assets in the U.S. (decrease — )
40.
Direct investments
_
__
41.
U S corporate securities
42.
Long-term claims on U.S. banks
43.
Long-term claims on others
44
Short-term claims

_ _

_
_
_

__

45.
46.
47.

Nonliquid claims on the U,S. Government associated with:
Military contracts
Government grants and capital outflows
- Other specific transactions
_ _

48.
49.

Other holdings of nonmarketable, . nonconvertible, medium-term U.S.
Government securities:
Repayable in U.S. dollars 3
_ ___
Repayable in foreign currencies

31
-74

-16
-20

-5
-50

50.
51.

Liquid assets in the U.S., including U.S. Government marketable or
convertible securities, reported
for:
Foreign official agencies 4
Other foreign accounts
__
_
__

1,673
619

1,073
1,554

237
71

-401

-1, 161

-288

III. Errors and omissions, net
••Revised.
p Preliminary.
* Less than $500,000.
1. Under agreement between the Agency for International Development and recipient
countries, some of these funds are to be used for procurement in the United States.
2. See footnote 1 of table 4.




(*)

.

-2

(*)

3. Includes Export-Import Bank Portfolio Fund Certificates of Participation.
4. Seasonally adjusted figures are derived as residual of seasonally adjusted amounts for
all other transactions.

SURVEY OF CURRENT BUSINESS

December 1965

setback in the first half of the year but
have advanced during the third quarter
to a new high. The rise in imports
continued, in fact at an accelerated rate.
With exports rising from the first half
of the year by about $1.9 billion (annual
rate) and imports, by $1.6 billion, the
trade balance was somewhat improved.
The data reported on merchandise
imports for the summer quarter were
affected by delays in handling peak
Customs processing loads in September
and by changes in recording procedures.
To allow for these factors, the import
figures in the balance of payments
tables for the July-September period
include an upward adjustment of the
data initially reported.
U.S., exports
U.S. exports in the third quarter,
after seasonal adjustment but without
allowance for the effect of the strike in
the shipping industry, were about 10
percent above the quarterly average in
the first half of the year. A large part
of the gain was in agricultural products,
which increased 20 percent, while nonagricultural exports rose by about 7K
percent. The upsurge in agricultural
exports to a record level followed
sharply reduced shipments in the first
half of the year. Exports of wheat and

flour increased in the third quarter,
partly because of the inferior quality of
the current European wheat crop, and
partly because of the reduction in U.S.
export prices for wheat to a more competitive level in international markets.
Exports of other grains—mainly feedgrains—to Western Europe and Japan
also rose, continuing the upwafd trend
of the past several quarters.
One exception to the expansion in
agricultural exports was a further decline in cotton shipments. In the 9month period through September, cotton exports, at a seasonally adjusted
annual rate, were about 30 percent
under 1964 levels. Eecovery in cotton
exports is not likely to occur before the
1966 crop is marketed in the summer of
next year, when new cotton legislation
reducing U.S. export prices to competitive levels becomes effective.
With a rising trend in foreign demand
for agricultural products, improved
pricing methods, and adverse conditions affecting foreign production, the
higher export rate in the third quarter
is likely to be at least maintained, if
not raised further in the near futurd.
In the third quarter, nonagricultural exports to all of the major areas
except Japan rose (seasonally ad-

19
justed) over the quarterly average in
the first half of the year. Shipments to
Western Europe, however, barely exceeded the 1964 rate. During the first
half of this year, a slowdown in production relative to the long-run rate
of growth in some of the countries in
that area was a major factor dampening
the demand for U.S. goods. Shipments
to less developed countries, whose
ability to import is closely related to
their sales to the United States as well
as to other industrialized countries,
rose slightly. The main support for
our exports came from Canada, where
production and income generally move
with business activity in the United
States. The upward movement in
nonagricultural exports that was resumed in the third quarter is likely to
continue, unless the acceleration of
industrial activity abroad is delayed
much longer than in previous periods
of relative slowdowns.
U.S. imports

The long-term upward trend in U.S.
imports that began in 1961 continued
through the third quarter of this year.
The rise has been related mainly to the
overall growth in domestic output and
demand. Kecently, however, imports
have also been affected by other factors.

Table 1A.—-Analysis of United States Balance of Payments
(Millions of dollars)
Calendar year

1963

1964

-2, 670

-2,798

-2,670
378
30
-113
461
2,292
1,673
619

1965

1964
I

IV

III*

II

III

-257
—481

-582
50

-593
428

-1,369
3

-709
-529

242
42

-485
490

-2,798
171
266
-220
125
2,627
1,073
1, 554

224
-51
131
-228
46
-173
-400
227

-632
303
118
258
-73
329
215
114

-1,021
70
135
-45
-20
951
389
562

-1,369
-151
-118
-205
172
1,520
869
651

-180
842
68
-58
832
-662
-861
199

200
68
-466
-56
590
-268
-107
-161

-975
40
329
-413
124
935
252
683

-1,977

-1,224

-136
-637

-351
167

46
505

-783
-35

205
166

260
552

-1, 977

-1,224

501

378

171

-51

1, 673

1, 073

-74

-20

I'-

II r

A. Balance on liquidity basis— measured by increase in U.S. official reserve assets and decrease in liquid liabilities to all foreign accounts:
1. Seasonally adjusted (Table 1, lines 26, 50, 51)
_•__
2.
Less seasonal adjustment _ _ _
3. Seasonally unadjusted (Table 3, lines 49 a, b, and 50) (equal to sum of lines 4 and 8
below with signs reversed)
__
4. Increase(— ) in U.S. official reserve assets (Table 3, line 50)
5
IMF gold tranche position 1
6.
Convertible currencies
7.
Goldi_
___
8. Decrease (— ) in liquid liabilities to all foreign accounts.
9.
Reported for official agencies (Table 3, line 49a) .._ _
10.
Reported for other foreign accounts (Table 3, line 49b)
__
__
B. Balance on basis of official reserve transactions— measured by increase in U.S. official
reserve assets and decrease in liquid and certain nonliquid liabilities to foreign official
agencies:
11. Seasonally adjusted (Table 1, lines 26, 49, 50)
12.
Less seasonal adjustment
13. Seasonally unadjusted (Table 3, lines 48b, 49a, and 50) (equal to sum of lines 14, 15 and
16 below with signs reversed)
,.
14. Increase(-) in U.S. official reserve assets (Table 3, line 50, for details see lines 5, 6
and 7 above)
15. Decrease (—) in liquid liabilities reported for foreign official agencies (Table 3, line
49a)
16. Decrease (—) in certain nonliquid liabilities to foreign official agencies (Table 3, line
48b)
' Revised.

*> Preliminary.




* Less than $500,000.

-400
-50

-518

-459

303

70

215

389

('%

(*)

-642
-661

-748

19

39

-151

842

68

869

-861

-107

-292
40
252

30

1. Reflects $259 million payment of gold portion of increased U.S. subscription to IMF in
the second quarter of 1965.
J

SURVEY OF CURRENT BUSINESS

20
Chart 12 indicates that from 1959 to
1964 the value of imports generally
fluctuated between 4.5 and 5 percent
of the value of final sales of goods
(U.S. gross national product minus
inventory changes and services).
Imports fell to or below the lower end
of that range in periods of recession
and rose toward the upper end in
periods of rapid growth. They have
exceeded the upper end when strikes
or anticipations of strikes significantly
increased domestic demands as compared with available supplies.

In the first half of 1961, just before
the present upswing began, the ratio
of imports to final sales of goods was
4.3 percent. By the first half of 1965,
the ratio had risen to 5.1 percent, and
it continued to increase in the third
quarter.
A major element in the recent rise in
imports relative to total final sales of
goods was, of course, the extraordinary
demand for steel in the period of the
strike threat. Steel imports reached a
peak around the middle of the year and
started to decline in September. For

Table 2.—U.S. Balance of Payments by Major Components,1 Seasonally Adjusted
[Millions of dollars]

Calendar
year 1964

1965

1964
I

III

II

IV

II r -

Ir

III*

Goods and Services, Government Assistance and
Long- Term Capital Accounts.?
6,067 6,382
5, 586
6, 748
A. 1. Nonmilitary merchandise exports —
25, 288
6,149
6,690
2. Less: Those financed by Government
grants and capital
2 812
742
740
671
716
571
683
3. Merchandise exports, other than those financed by Government grants and capital. _
22, 476
5,640 5,974
5,478 5, 384
6,008
5,015
4. "NjYmTnilitary Tnero.handisfi imports
—18 619 —4, 410 —4 599 —4,709 —4,901 —4 663 — 5 469
5. Balance on trade excluding exports financed
by Government grants and capital
6. Nonmilitary service exports
7. Less: Those financed by Government
grants and capital „• „ .
„
8. Service exports other than those financed by
Government grants and capital
9. Nonmilitary service imports

B.

6,806
769

6,037
—5, 521

3,857

1, 068

785

931

1,073

352

539

516

10, 967

2,741

2,733

2,785

2,708

2, 905

3,115

3, 010

585

144

155

143

143

188

174

123

2,941
2, 597
2, 565
10, 382
2,578 2,642
2, 717
—7, 014 —1,736 —1, 742 — 1 736 — 1,800 — 1,832 -1,926

2, 887
— 1,920

10. Balance on services other than those rendered
under Government grants and capital _

3,368

861

836

906

765

885

1,015

967

11. Balance

7,225

1,929

1,621

1,837

1,838

1,237

1,554

1,483

—2, 824
993

-732
362

-720
122

-691
151

-681
358

-662
243

-702
342

-735
180

—702

-135

-186

-183

-198

-182

-197

-200

176

166

50

Other major transactions:
1. Military expenditures
2. Military cash receipts 3
_
3. Government grants and capital— dollar payments to foreign countries and international institutions
4. Repayments on U.S. Government loans
excluding fundings by new loans and
repayments on military Credits
5. U.S. direct and long-term portfolio investments abroad. ___
_
_ __ __
6. Foreign direct and long-term portfolio investments in the United States
7. Remittances and pensions
8. Net sales of nonmarketable
medium-term,
nonconvertible securities 4
9. Miscellaneous Government nonliquid liabilities
10. Balance.

___

576

184

148

162

343

—4, 351

-738

-796 -1, 163 -1, 654 -1, 838

-791

-871

110
-839

6
-209

94
-203

-72
-207

82
-220

-247
-290

-240
-235

-36

-55

-8

-2

29

207

4

—1

204

1

(*)

6

-5

-1,763

Balance on Goods and Services, Government
Assistance and Long-Term Capital Accounts

359

616

99

40

D.

Recorded U.S. private short-term capital
outflow less foreign short-term credits to the
United States (excluding foreign liquid
dollar holdings)

—1, 996

-585

-529

E.

Unrecorded transactions

—1, 161

-288

-152

F.

Balance C+D+E

—2, 798

-257

-582

r

-2

—6, 866 -1,313 —1,522 -1,797 -2, 234 -2, 233 -1,719

C.

_

(*)

281
-224

-280

-396

-996

—342

-540

290

484

79

-291

-430

-3

-77

-284

-593

-1,366

-709

242

-485

-165

Revised.
* Preliminary.
* Less than $500,000.
1. Excludes military transfers under grants.
2. Short-term capital movements between parent companies and their foreign affiliates are reported as part of direct investment.
3. See footnote 1 to table 4.
4. Includes Export-Import Bank Portfolio Fund Certificates of Participation.
• .. •.
NOTE.—For reconciliation of data on Government transactions shown in this table with those shown in tables 1 and 3,
see table 4.




December 1965

the third quarter as a whole, they were
about the same as in the second quarter.
Although steel imports will continue to
decline, past experience suggests that
they will remain higher than before
the recent upsurge in imports.
Imports of other industrial materials,
particularly metals, have also risen
relative to total final sales of goods,
partly because of limitations in domestic resources and productive capacities
and partly because of higher prices.
More significant, however, than the relative rise in imports of materials is the
one in imports of manufactured capital
and consumer goods, particularly since
1963. In 1965, such imports advanced
to 1.3 percent of U.S. final sales of
goods, as compared with 0.9 percent in
early 1961.
The longer run expansion in these
imports was partly offset by the decline,
relative to the overall final sales of
goods, in imports of foodstuffs. Last
year and early this year, the decline
was accentuated by a drop in prices,
particularly for coffee, sugar, and cocoa
and, for some of these commodities,
by a depletion of domestic inventories.
In the third quarter, however, the
volume and value of imports of foodstuffs rose slightly.
The recent acceleration in imports
relative to total domestic sales, particularly of manufactured goods, may in
part be related to the slackening in the
growth of domestic demand in other
industrialized countries relative to their
productive capacities. A recovery in
that demand may, therefore, somewhat
increase the attractiveness of these
markets relative to the U.S. market.
Major Changes in Movements
of U.S. Capital
The net outflow of U.S. capital,
adjusted for seasonal-fluctuations, increased from approximately $370 million in the second quarter to about
$820 million in the third. (See table 1,
line 17.) The rise reflected in part the
lessened influence of special developments that had reduced the net outflow
during the second quarter. These had
consisted mainly of a $370 million
decline in outstanding foreign claims
reported by U.S. banks (table 1, lines

December 1965

22 and 24), and a $230 million repatriation of short-term assets held abroad by
nonbanking corporations. (See table 1,
line 25.) The net liquidations of these
foreign assets can to a large extent
be attributed to the cooperation by
banks and other corporations in the
program, announced by the President
on February 10, to improve the balance
of payments and the more' specific
guidelines issued by the Federal Reserve
Board and the Secretary of Commerce.
These liquidations were a major factor
in reducing the net outflow of U.S.
capital in the second quarter, but they
were not expected to continue on a
comparable scale.
During the third quarter, the total of
these assets—after seasonal adjustment—remained practically unchanged.
The amount of long-term loans outstanding increased since banks had to
meet some of the loan commitments
that had risen sharply for several
months before the program was announced. Short-term claims reported
by banks continued to decline but only
seasonally, so that after seasonal adjustment they remained stable. Shortterm assets reported by nonbanking
corporations continued to decline,
seasonally adjusted, but by only $40
million.
By the end of the third quarter,
foreign assets by all banks subject to
the guidelines of the Federal Reserve
System were roughly as high as they
had been at the beginning of 1965, or
approximately $470 million below the
ceiling indicated in the guidelines.
Several factors may account for the
fact that banking claims did not expand
closer to the ceiling of 105 percent of
the amounts outstanding at the end of
1964. Banks require lending margins
to accommodate sudden changes in
foreign loan requirements, particularly
since banks had large commitments
when the program to restrain the increase in bank loans was started. The
creased competition of domestic
borrowers for the available lending
facilities of banks and perhaps a somewhat slower rise in foreign business
activity may also have been contributing factors.
The net capital outflow in the third
quarter was also increased by a rise—




SURVEY OF CURRENT BUSINESS
to nearly $400 million after seasonal
adjustment—in purchases of foreign
securities newly issued in the United
States. (See table 1, line 19.) During
the second quarter, such purchases
amounted to only $225 million. The
third quarter transactions included a
major issue of a European concern, but
the remainder, as has been usual in
recent years, consisted mainly of Canadian issues. The total amount of new
issues, however, appears to have been
at a higher rate than can be expected
over the longer run.

21

movements just described were in part
offset by a $375 million decline—after
seasonal adjustment—in the net outflow of direct investment capital, from
about $890 million in the second quarter
to about $515 million in the third.
(See table 1, line 18.) While some
decline in these capital outflows from
the exceptionally high rate of the first
half of the year could have been expected, the decline reflected also the
efforts of business corporations to cooperate in the program to improve the
balance of payments
The geographic and industry detail
Direct investments
of
these changes can be discussed only
The adverse effects on the balance of
in
terms of the original figures, which
payments resulting from the capital
are not seasonally adjusted. (See table
3, line 32.) On this basis, direct investment capital outflows dropped from
12
the second quarter by about $560
million. (See table 3, line 32.) Over
U.S. Imports in Relation to
$300 million of that drop was to inU.S. Final Sales
dustrialized
countries, mostly Western
Billion $ Seasonally Adjusted at Annual Rates
25
Europe, about $150 million to Africa
and Asia, mostly in the oil-producing
countries, and about $125 million to
Latin America and the Caribbean.
The outflow to Western Europe was
reduced to about $110 million, which
was not much more than in the third
quarter of 1963. About half of the
Percent of Total U.S. Final Demand
$110 million represented petroleum in4
•
• ' . , , .
. ,
Imports of Industrial Supplies and Materials
vestments; the other half was in manufacturing and other investments. The
very sharp decline in European investments may reflect in part the fact that
investment funds had been supplied by
Excluding Steel
parent companies earlier in the year.
i l l I I I I I | I | I I I
Also American companies were attempting to meet capital requirements for
their foreign investments through inImports of Food and Beverages
creased
borrowing abroad. Several
—.—,—;
major loans obtained by foreign subsidiaries of U.S. firms were reported for
n I
I ' I i
I' i
I
•
I'
« I
»' » , ' I
the third quarter. (Although such
loans affect the U.S. balance of pay3
ments by reducing the need for capital
Imports of Finished Goods
(consumer goods and capital equipment)
outflows, they do not appear explicitly
in the tabulations if they represent
transactions between the foreign affiliates of U.S. companies and foreign
lenders, because both parties to such
transactions are considered foreign resi1959
60
61
62
63
64
65
dents.) Financing of foreign investHalf years
ments with funds obtained abroad has
^Excluding services
increased considerably in the fourth
o Third quarter 1965
quarter.
U.S. Department of Commerce, Office of Business Economics

22

SURVEY OF CURRENT BUSINESS

Table 3.—U.S. Balance of Payments, by Area—First,

(Millions of Dollars)
All Areas
Line

1
2
3

4
5
6
7a
7b
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36a
36b
37a
37b
38
39
40
41
42
43
44
45a
45b
45c
46
47a
47b
47c

48a
48b

49a
49b

Eastern Europe

Western Europe

Canada

Type of transaction

1964
Year

I

II

38,345

9,240

9,730

1,328

305

517

37,017

8,935

Merchandise, adjusted, excluding mili- 25,288
tary.
Transportation
2, 317
Travel _ _ _ _ • _
1,095
Miscellaneous services:
Private:
Fees and royalties from direct
756
investments.
Other
1,081
Government, excluding military______
261
762
Military sales _ _
Income on investments:
3,741
Direct investments
1,262
Other private
454
Government

Exports of goods and services (credits)
Goods and services transferred under
military grants, net.
Goods and services excluding transfers
under military grants.

Imports of goods and services (debits)
Merchandise, adjusted, excluding military.
Transportation _ _
Travel
.
Miscellaneous services:
Private
Government, excluding military
Income on investments:
PrivateGovernment
Balance on goods and services

1965
III

Private remittances
Government:
Military grants of goods and services
Other grants
Pensions and other transfers
Transactions in U.S. assets abroad (excluding reserve assets), net, increase (—).
U.S. private assets, net
__
Direct investments
Foreign securities newly issued in the U.S_
Redemptions
Other foreign securities
Other long-term claims, net:
Reported by U.S. banks
Reported by others. _
__
Other short-term claims, net:
Reported by U S banks

1964

m.

II r

I

IV

I

II

1965
III

I

1964

II r

III*

I

III

II

170 130

53

31

48

36 ,556 ,696 ,584

7, 035 ,336 2,150 ,085 ,936 1,887 2,382 ,097

160 117

42

25 ,130 1,259 1,127

8,547 10,369

6, 155

6,304

5,932

6,897

5,617

537
223

582
303

607
334

591
235

498
232

641 624
340 370

246
24

230

264
50

P147 P220

80

273
49

234
28

308
54

299
56
88

42

26

7

9

1

1

3

3
1

171

181

230

202

206

206

70

72

75

81

88

259
66
168

291
70
209

263
68
174

268
71
229

268
69
210

98
17
131

104
18
162

94
19
141

97
18
116

95
19
150

96
2
18 00
116

946
291
94

899
315
113

816
309
120

1,080
347
127

1,046
344
103

1,078 913
370 342
131 115

183
66
21

182
77
28

107
71
28

232
76
24

243
84
32

139
76
31

28,457
18, 619
2,464
2,216

6,521
4,348
X535
339

7,117
4,590
689
584

7,459
4,651
675
849

7,360
5,030
565
444

6,774
4,604
539
382

26 29
8,201 ,529 2,245 ,605 2,544 2,301 3,035 2,978
22 24
5,487 5,487 ,221 ,279 ,233 1,256 1,622 ,544
1 2
756 736 278 412 391 289 456 437
2
84 255 298
98 285 345 (*)
650 940

396
534
2,824

92
133
732

95
99
720

101
165
691

108
137
681

98
112
662

91
117
702

89
169
735

56 58 57
31 28 31
385 383 358

62
32
356

59
30
360

57
29
367

952
452

231
111

230
110

218
109

273
122

255
122

281
117

255
118

129
61

114
62

138
70

155
68

129
70

9,888

2,719

2,613

1,547

1

w

1

»1 (*)

6

Errors and omissions

3

28
104

35
122

38
137

37

36

41

8

19
1
16

19
1
6

19
2
5

"0 00

127
94

117
101

116
99

3

»
1

3

6

2

002

(*) (*)
2 2

n

14
4
78

12
3
67

13
3
57

53
16

49
15

51
16

144 101 18 -4 8 -5
144 101 18 -4 8 -5
-9 -10 -7 -9 -10 -9

384
384
-8

361
361
-9

8
8
-9

-9 -10 — 7 -9 -10 -9

-8

-9

—9

— 7 — 7 -6 —7 -7 -6
_____
-517 p-214 p-292 p-371 p-662 -267 -135 -230 -88 p-147 p-220 -80
—I -2
-538 -425 -451 -437 -499 -414 -18 -17 -27 -14 -23 -17
—1 -1 -1
-72
-73 -133 -82 -32 -33 -36 -36 -95 -42 -1 «
-66
-74

—1

-2

—3

i-133

-133

128
62

640 118
639
3,009 2,144 2,830 1,191 896 667 337
38
492 420
2,717 1,773 2,168 924 761 437 249
-973 -1,028 -1,448 -913 -222 -318 -191 -236 -383 -189

-681
-156

-657
-147

-786 -646 -87 -88 -103
-154 -150

-37 -38 -40

-89 -163 -109
-39

-8,141 -1,554 -2,003 -1,539 -3,045 -1,847 -1,148 -631 -425 -782 -423 -652
-6,462 -1,299 -1,538 -1,144 -2,481 -1,517
-2, 376 -420 -606 -440 -910 -1, 115
-71 -581 -302
-1,063 -127 -284
38
55
54
63
38
193
24
34
35
94
40
193

-249 • -71
-58
-26
-531

201 -42 -145 -79 -103
-16 -45 (*)

-382
-8

-461

84

-671

'•21

-189

10
147

5 183
-63 -122
-74 -269

-1,523

-405

122
-27

52
72

33
69

30
21

667

111

52

167

337

334

—5
-84
236
-37
115

17
-42
31

29
14
51

-27
-30
14
-29
64

-24
-26
135

89
35
152

222
49

163
-11

-28

149
49

0)

00

-45 -50

-271

43 -12 -36

3

-148
19

117
8

66

(*)
(z)

("0
2

(x)

J —4

103

'48

44

i

22
44

50

49

•

-29

98 -144 -201

(*)

00

-31 39
35 -26
-255 -241 -61 -25 -27
45 -49
1]
27
48
11
60
4(
30
26

44
25
20 -295 -244
-22 -27
-2

00

00

oo

00 0)

(•)

25?

26 -45

-62
1

204

207

21
69
-10

00

00

-50

1,073
1,554

-400
227

21
11

38
56

86
65

-86
19

171
266
-220
125

-5
13
-228
46

30
11
25
-7

7
13
—4
-2

-15
-11
-20
17

84
6
-5
83

-1,161

-72

-4

-35

-69

21

C)

154 -70 -27
—i
0)

00

16
-20

0)

133 -19
-24 -3

30

-10
-16

50

252 -36
683 340

6
4 -195
-46 32
—5 -41 -22
12
3
59
4 -35

-7

/z\

11
1

41

179
8

39
7(
00

127
00

00

-5
-7

6
35

—7

7 -363 -301 -236

9 -13
-280

3

-5 —5 -75 -142 180
-179 -15 -103
2
3 -3
8 3 <

f

1

i

r

9

;:

0) 00 (*)

«

-3

35

33

169

10
11

1
28

-8

2
22 00

(*) (*

00

00

204

6 -181
-124

&

13:

fx\

-96
25

22 -8

76

25 -33

—4
-3

-3
80

-7 -41
33
8

7 -36

9

3oe

»

2

00

42
32

-7

-42

2

2

-226

181

5

-3 -1 -2 -361 -304 -233
39 -15
-66
-86 -187 -44
17
18
30
25
15 -19
00 00

5
-567 -387 -399 -700 -400 -619 -207 -101 \ J
-960 -400 -288 -382 -303 -536 -412 -111
-68
-329 -304
—11
—9
4
7
9
51 42
3
13
103 68 65 52
16 -11 53 (*) (*)

-240
-264

T
p Preliminary.
Revised.
* Less than $500.00.
1. Transactions with shipping companies operating under the flag of Honduras, Liberia,




00

2 2
(*) (*)

35 35 40 41 1,172 1,335 1,576
26 31 33 33 928 1,042 1,096
37 40
1 2 2 30
2
5 1 3 4 49 110 300

193
58 -6 00
-20 -16 -117 r-13
-16 '237
Reported by others
-66 -286
-588 -220
U.S. Government assets, net
-1,679 -255 -465 -395 -564 -330 -581 -244 -26 -82 -23 -33 -64 144 -3 -41 5
Long-term assets
-2,349 -521 -697 -60J -530 -632 -689 -514 -87 -125 -132 -105 -159 -87
(*)
Repayments on U.S. Government loans:
54
44
9
166 209
21
14?
145
155
17 34 43
Scheduled
142
130
575

Nonscheduled and selloffs
Foreign currencies and other short-term
claims.
Transactions in foreign nonliquid assets in
the U.S. (liabilities of the U.S.), net,
increase (+).
Direct investments
U.S. corporate securitiesLong-term claims on U S banks
Long-term claims on others
Short-term claims
_
Claims on the U.S. Government:
Associated with:
Military contracts
Government grants and capital outoutflows.
Other specific transactions
Other holdings of nonmarketable nonconvertible medium term Government securities:
Repayable in U S dollars
Repayable in foreign currencies
Liquid assets in the U.S. including U.S.
Government marketable or convertible securities reported for:
Foreign official agencies2 2
Other foreign accounts

III

,006 ,042 ,793 2,793 3,455 ,016

8,792 10,077

135

270
65
191

-942
-356

II

36 ,556 ,696 1,584

9,213

-305
-470
-67

I

48

267

174

-1, 328
-1, 884
-279

in*

II r

31

"371

-138

I

53

8,918 11,031 ,720 ,141 ,272 ,881 2,940 3,675 ,096

P214

261
60
194

-560

1964

1965

170 130

9,006 10,369

Excluding transfers under military grants - _ 8,560 2,414 2,096 1,333
Unilateral transfers, net (to foreign countries -4,051 -980 -1,254 -844
Excluding military transfers
-2,723 -675 -737 -630

50
Changes in U.S. official reserve assets
50a
IM!F gold tranche position '
50b
Convertible currencies
50c
Gold
51

December 1965

3

H

15 -12 -6

-

-2

—2

-

•J

2

00

259 -145 -70

and Panama are included in "unallocated."
2. Liabilities to international and regional development banks are here combined with

SURVEY OF CURRENT BUSINESS

December 1965
Second and Third Quarters 1964 and 1965

(Millions of Dollars)
Japan

Canada— Con. Latin American Republics and
Other Western Hemisphere
1964

1965

ii, III*

Other countries in Asia and
Africa

Australia, New Zealand and
South Africa
1965

1964

1965

23

1965

1964

1964

1965

, 1964

m-

International Institutions
and Unallocated i

II' III*

I

II

1,635 1,984 1,800 1,552 1,702 1,707 1,500 1,811 1,715
«
13 22 p i] * 17 *21

683

583

1,635 1,984 1,800 1,539 1,680 1,696 1,483 1,790 1,708

683

583

582

638

663

654

335 378

399

378

463

511 1,566 1,627 1,604 1, 507 1,876 1,636

1,180 1,443 1,295

548

450

447

487

495

499

248 270

308

274

352

366

37
4

32
8

34
8

35
4

39
8

38
8

20
8

15
4

16
8

19
9

I

I

II

III

947 1,059 1,044

29
105

38
145

40
151

76
82

86
105

II' III*

I

881 1,115 1,045

96
119

69
85

87
114

83
130

III
582

I

II' III*

638

663

654

I

II

335

378

HI
399

I

II'

378

463

I

II

511 1,723 1,892 1,719 1,714 2,297 1,816
157

15
3

21
7

I

HI

*207

265

972 1,064 1,028
90
6

95
11

I

II

80

77

Line

1965
III
81

I

II' III*

82

90

92

80

77

81

82

90

92

3

98
16

38

40

42

36

49

45

5
6

1
21

21

21

23

23

4

882 1, 206 1,009

103
13

79
6

102
11

1
2

180

7a

40

40

40

33

33

36

34

36

36

4

5

4

5

6

6

11

11

10

14

12

13

18

13

14

27

20

20

21
1
11

24
2
30

24
2
11

44
14
9

46
16
3

45
15
4

45
18
2

45
16
7

45
16
10

23
2

23
2
4

23
2
3

23
2
6

24
2
17

24
2
4

15

15

15

14

15

.

16
(*)
8

39
26
13

39
28
8

39
27
6

39
29
30

38
32
17

38 21
31 ----13

145
103

141
121

138
99

262
49
23

254
51
27

250
51
36

265
61
23

266
68
36

257
59
27

7
43
10

6
46
7

6
45
10

11
55
10

13
52
7

11
53
9

16
7
1

19
9
1

39 41
8 10
1 (*)

25 345
8 20
37

297
22
50

314
21
39

343
29
43

369
26
55

337
32
42

6 5
12 10
1

4
13

11
12
1

9

6
15

10
11
12

503 573
365 419
32 33
8 13

649
498
37
13

623
481
34
9

879
631
38
36

929
669
40
34

844 1,022 1,069
597 721 733
41 39
30
20
38 29

168 141
19 22
91 93

192
21
93

134
21
84

153
31
96

205
29
98

13
14
15
16

1
1
.35 36
124 121

1
40
129

1
39
138

56

5

1
1

55

17
18
19

12

14
5

3
19

t
19

6
18

6
17

20
21
22
23
24

1,270 1,517 1,735 1,414 1,358 1,334 1,393 1,480 1,422
1,055 1,212 1,234 1,072 1,018 960 1,026 1,121 1,040
31 39 42 57 60 60 56 67 63
50 125 325 179 165 195 200 182 210

765 858
603 694
39 41
14 22

19

00

38
8

w

198 197 200
150 155 148
12
13 14
3
4
3

174
137
14
4

189 221
144 180
16 14
3
5

795
571
33
16

8 "w"

17
3
43

15
4
49

14
5
42

19
22
42

22
22
47

28
25
40

16
24
40

14
25
40

15
25
37

1
3
76

2
4
82

2
4
78

2
4
72

2
4
79

2
3
74

1
3
26

20

4
29

13

17

4
15

54
17

56
17

55
18

20
3

22
2

24
2

28
3

29
2

30
2

12
6

14
6

12
5

14

18
6

17
5

1
1

1
1

2
1

2
1

2

2

365 467 65 138 344 373 107 331 293
365 467 65 125 322 362 90 310 286
-12 -10 -12 -114 -109 -90 -113 -158 -158

180
180
-7

15 -102 -204
15 -102 -204
0
-8 -8

137
137
-3

181
181
-2

199
199
-4

204 274 290 928 1,013 790 870 1,275 747 -88 -64 -111 -52 -63 -113
204 274 290 771 748 675 663 854 567 -88 -64 -111 -52 -63 -113
-3 -3 -2 -596 -737 -516 -632 -849 -515 -21 -61 -20 -15 -27 -20

-12 -10 -12 -101 -87 -79 -96 -137 -151
-5 -3 _4 -24 -22 -21 -27 -31 -29

-7

-13 -22
*-21 -7
-70 -60 -51 -61 -100 -115 W
-7 -5 -7
-6 -7

10 -67
10 -67
-8 -7

11

12

1
1
45 46
156 200 (*)
15
5

16
5

5 4
20 20

7b
8
9

-8

-7

-8

—8

-8

-3

-2

-4

-3

-3

-2 -439 -472 -401 -425 -428 -335 -21 -61 -20 -15 -27 -20

25

-6

-5

-6

-6

-6

-2

-2

-3

-2

-2

-1 -61 -56

26

W ~00~
-2 -2

-2

-55

-61

-60 -54

(*)

27
28
29

-157 -265 p-115 P-207 p—421 -180
_ _ _ _ _ -360 -397 -327 -346 -347 -260 "-21 -61 "-20 "-15 "-27 "-20
-18 -19 -19 -18 -21 -21
(*)
00
«
148 -18 -33 -43 -88 -111 -83 -317 -438 -377 -531 -§00 -546 -14 -8 31 -202
59

30

-48 67 -203 -141 -226 -295 -136 -6 50 -311 -97 -77 -100 -40 126 -21 -37 -47 -92 -113 -71 -34 -172 -105 -315 -325 -187 -23 -7
1
15 -204
58
-222 -146 -167 -38 -88 -64 -76 -101
25 -30 -12 -18 _ _-16
8 _ _ _-9
58 -119 -17 -167 -275 -124 -25 -17 10 -32 _ _ _ 44
12
___
_ _ -31 -27 -33 -66 -78 -26
__
-99 -235 -195 -13 -56 -14 -4 -11 -6
_ _ _ _ _ """§
-35
_____
_____
_ _ _ _ _ _ _ _ _ _ -24 -30 -13 -30 -46 -16 -4
_ _ _ _ _ -160
-19
4
37 24 17
4
1
2
2
2
2
1
1
2
4
3
4
3
4
39 121 13
t
4
1
-7 -10 -3 -3
4
4
3
1
2
2
1 (*) ••00
-1
3
2
3
3 -19
3 2
8 -3
-16
6

31
32
33
34
35

.___. _ _ _ _ _
-47

64 -203 -113 -315 -437 -250 -63

-37
-8

1 -25
8
-8 -10 -11

'23
'219

174
129

129 -47 -77 -139 '39
9 -13 -18 -36 '48

1 -3

40 47 31
52 33
4
17 -21 -27

104 -35 -13

13

62 -53 -19
14 31 -6
1
4

w

26 -13

7

-7
-4

W _____

5

5
1
4
9 00

—2
. 2

_____

80
-4

-292 -90 -57 -82 -28

4 -62 -14 -26 -42
1 -6
3
4
8

.

51
21

5 -14
3
-7
-2

-8

3
-5
-2

7

1 -1
1
11
6 -4

1 (*)

00

1

T*)" _ _ _ _ _
-2

-6
-4

8
-3

23 35 -228 -70 -24 '-53 -14
9 -10 -9
-17 ' -1 9

121
3

28 -89 -142 -114 -57 -50
-81 -148 -150 -186 -146 -114

1 -3

-4

11 -44 -131
4
7 -4

-2

64
4
21

19
-3

7
-4

20
-8
26

-28
-12

-41
-11

36a
36b

2 -85
2
-13
-7

35
2

1

8

4

4

-283 -266 -272 -216 -475 -359
2, i_4
IT 12
5 -350 -419 -311 -338 -379 -262

9 -1

16

2

25
8
2 -12

7
1
9

26

3

3

3
1

4

2

2 __•__
7 (*)

3

2

13 »

10

11

-1 156

11

10

87 -37

2

-8

14

7 -12

4

6

-69
1

4

7

i

-1
—1 — 1
3
1

8 -10 -12 -65 -10
-3 -7
(*) -10

-41
4

3

4

-3

-4
-2

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22
-6

25

1 -6
8
5

10 -9
1 -8

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12
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1 -15 -36
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1 -2

18
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43
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63 -27
00

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7

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1

3

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n % n(*>
00

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00

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14 -38

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6
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00
00

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1
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1
8

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2
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1
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5
6
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26
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5

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6

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37b

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t

38
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40
41
42

-8 -32

43

1

00 00 00

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44
45a
45b
45c
46

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-22 -15 -38

47a
47b

4

—v

176

7

(*)6

1 00

47c

I

48a
48b

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-167 -41 110
-251 -85 258
-25

19

6

-25

19

6

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160 -29
-26
-26

33 -379 -211

46 -59

—7

184 -20
8 -58

— 7 . 8 -58
185

53 -15
4
4

78 -119 -155

132

-2

125

-50

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—50

—1

148

97 -30

-7 -26

104 -15

4

12

28

5 235

44

81

226

34

9

2

1

24

49a
12 1-70 -69 -124 -59 -20 -348 49b

8

-7

8

-7

9

2

1

24

9

158 -51 -106 -155 -161 -125 -205 -179 -245

104

9

79

316

251

liability to other foreign accounts. Forjjomponents of line 49a, see table 6, lines HA 1 and 2;
for components of line 49b, see table 6, lines HA 3, 4, and 5.




11

9

50
50a
50b
21 50c

350
329

150 140
131 118

156
135

89 -176
68 -466

19

22

21

21 290

38

57

69

83 235 -162

51

3. Reflects $259 million payment of gold portion of increased U.S. subscription to IMF in
the second quarter of 1965.

SURVEY OF CURRENT BUSINESS

24
Direct investment capital outflows to
Canada continued high relative to other
recent years. As in the first two
quarters of the year, they were influenced by a few large transactions
involving transfers of financial assets.
The decline in net capital outflows to
Latin America and the Caribbean
area was due mainly to the sale to
foreigners of equity interests in foreign
affiliates of U.S. companies and to a
reversal of short-term cash outflows
earlier in the year.
In the aggregate, the outflow of U.S.

private capital in the third quarter
rose—after
seasonal adjustment—
to $820 million. Even at that rate,
however, it was only about half as
large as the quarterly average in 1964
and about one-fourth less than the
corresponding amount for 1963.
Extraordinary capital transactions

The major transactions in foreign
long-term investments in the United
States consisted of continued large net
sales by foreigners of U.S. corporate
securities. Net sales were $255 million
in the second quarter and $240 million

December 1905

in the third. These amounts differed
substantially from the balances on
such transactions during 1964 and the
first quarter of 1965, when they varied
between net sales of $42 million and net
purchases of $35 million. The heavy
net sales by foreign residents during
the second and third quarters reflected
in large part conversions by the British
Government of securities that had been
requisitioned from British residents at
the beginning of World War II. Because these recent conversions were
unique with respect to magnitude and

Table 4.—Analysis of Major Government Transactions
(Millions of dollars)
Calendar year 1964

Item
Total

I

Calendar year 1965

III

II

I

IV

•HI"

U'

TABLE 4 A.— GOVERNMENT GRANTS (EXCLUDING MILITARY) AND CAPITAL
OUTFLOWS
Outflows under assistant programs:
1
2
3
4
5
6
7
8
9
10

Under farm products disposal programs
Under Foreign Assistance Act and related programs
_
Under Export-Import Bank Act
__
Subscriptions to IDA and IDB
Other assistance programs _
__
Foreign currency claims acquired in the collection of—
Principal
Interest
Less: Foreign currencies used for U.S. Government uses other than grants or loans
Advances under Exchange Stabilization Fund agreements, net
.
Other, net (including changes in administrative cash holdings)

11

Total, Government grants and capital outflows (table 3, lines 28+39+42) .

-_
__
_.

1,761
2,011
338
112
140

398
455
88

87
170
327
-30
-2

475
515
66
62
42

314
498
94

507
577
148

331
593
112

44

36

28

-5

24
48
79
-7
24

24
45
87
-3
-7

28
52
82
-3
-12

21
40
82
3
4

1,005

1, 170

922

1,251

1,050

1,085
902
742
143
-11
24

1, 126
928
716
143
(")
51

'970

571
188
(")
25

1, 160
963
740
174
25
34

1,137
937
769
123
47
19

402
513
78

31

486
528
106
50
40

23
38
89
-12
-13

18
46
97
-3
-8

22
38
62

4,260

919

1,166

4,260
3,558
2,812
585
-7
119

966
831
671
144
-3
27

1,083
897
683
155
7
17

27

Adjusted for seasonal variations
12
Total, Government grants and capital outflows...
13 Less : Estimated transactions involving no direct dollar outflows from the United States
14
Expenditures on merchandise in the United States__
15
Expenditures on services in the United States.
16
Military sales financed by credits (including short-term,
net) l (line C-4, below) __
17
Government credits to repay prior Government loans 2 __
_
18
Increase in claims on U.S. Government associated with Government grants and capital
(including changes in retained accounts) (line B-3, below)..
_
_
19 Equals: Estimated dollar payments to foreign countries
and international institutions through
Government grants and capital operations 3

r
788
r

49

—8

35

4

18

4

-10

-21

702

135

186

183

198

182

197

200

478
222
49
15
25
30

156
163
-11

-53
-62
10
-22
25
23

177
-28
1

198
149
49
37

60
69
-10
-21

114
133
-24
-21

-59
-19
-35
-20

-5

13

-2

5

-18

-15
-6
207
3
204

-5
-5
4
4

-14

6

-2

—1
-1

(•)
204
(•)
204

1
12
1
1

6
-14
6
6

"-,
-5

-36
-3

-55

-8
—2

-2

29
-1

-13
-20

-5
-50

-6

-2
(•)

30

993
762
-9
-7
2
222

362
194
-5
-3
2
163

TABLE 4B.— CHANGES IN CLAIMS ON U.S. GOVERNMENT
1 Increase in claims on U.S. Government associated with specific transactions (table 3, lines 47a+
47b+47c)
2
Associated with military contracts (advance collections less deliveries) * (line C-6, below) _ _ _
3
Associated with Government grants and capital outflows (line A-18, above)
4
Noninterest-bearing securities issued to IDA..
_ _
__
5
Noninterest-bearing securities issued to IDB
6
Noninterest-bearing securities issued to UN for special programs
7
Foreign funds retained in Government accounts, to be used for purchases in the United
States
_
_
_
8
Other
.
9
Miscellaneous Government nonliquid liabilities
10
Associated with other Government sales and miscellaneous Government operations
11
Associated with purchase of Columbia River downstream power benefits
12 Net sales [net redemptions (— )] of nonmarketable, medium-term, nonconvertible securities
(table 3, lines 48a+48b)
13
Export-Import Bank Portfolio Fund Certificates of Participation
Treasury securities:
14
Payable in dollars
15
Payable in foreign currencies

-1

(•)

8f

3

-2
-2
(«)

(•)

TABLE 4C.-MILITARY EXPORTS AND RELATED TRANSACTIONS 1
1
Total, military cash receipts 4
_ _
_ _ _
2 Exports of military goods and services (excluding military grants) (table 3, line 9)
3 Less: Increase in indebtedness to Government for military credits
4
Military sales financed by credits (including short-term, net) (line A-16, above)
5
Less: Principal collections on Defense Department credits
6 Increase in claims on U. S. Government associated with military contracts (line B-2 above)
z
1

Less than $500,000.
v Preliminary.
«• Revised.
The distributions of cash receipts for the nine quarters in fiscal years 1964-66 into the
several
categories of military transactions are estimates based upon incomplete reports.
2
Includes estimated net accumulation of foreign currency from principal repayments
recorded in line A-6.




122
191
7
7
(•)
-62

151
168
-11
-11
-28

358
209

.8
149

243
174
<•)
(»)
69

3 As reported by the operating agencies.
This item appears in table 2 (line B-2).

4

Source: U.S. Department of Commerce, Office of Business Economics.

342
229
20
25
5
133

180
210
11
47
36
—19

December 1965

SURVEY OF CURRENT BUSINESS

25

recent period of heavy gold losses— market, and in that process, most
from the end of October 1964 to the end were probably transferred to other
of August 1965, when losses amounted foreign accounts.
Convertible currency holdings reached
to nearly $1.7 billion—seems to have
ended. This loss was about as large a peak of more than $1 billion in
as that experienced in 1960, and it August and have since declined. This
decrease reflects the reversal of the
was the largest since that time.
During both of these periods, con- "swaps" made possible by the return
siderable amounts of gold in excess of of dollars to the Bank of England.
Offsetting in part the rise in foreign
current production were purchased by
private foreigners. In the first quarter currency assets were drawings of $329
of 1965, these net purchases were nearly million against the U.S. gold tranche
$Ji billion. (See Table 7, line III, in the IMF. The gold tranche represent
for all areas.) Indirectly, such net almost automatic drawing rights on
purchases may be reflected in U.S. the IMF holdings of convertible
gold sales. The foreign purchases of currencies.
The third quarter increase in foreign
gold in 1965 were paid for partly
by dollars accumulated by foreign liquid claims on the United States
countries in earlier periods. The im- amounted to $445 million on a seaprovement in the balance of payments sonally adjusted basis. (See table 1,
Alternative Measures of the
during 1965 helped to terminate the lines 50 and 51.) This increase was comBalance
posed of a $745 million rise in such
sales.
Convertible foreign currencies held liabilities reported for foreign private
During the third quarter, foreign
countries acquired liquid claims (in- by the Federal Reserve System in- accounts and for the accounts of intercluding bank deposits and marketable creased during the third quarter by national agencies other than the IMF
or convertible Government securities) more than $400 million. Most of that (table 1, line 51), and a $300 million
on the United States and U.S. reserve increase was in British pounds, acquired decline in liabilities to foreign official
assets in the combined amount of $485 for dollars through "swaps" with the agencies. (See table 1, line 50.) The
million after allowance for seasonal Bank of England. The dollars were third quarter rise in liquid dollar assets
variations. (See table 1A, line 1.) needed by the Bank of England to reported for foreign private accounts
Actual transfers were $975 million, support the pound on the exchange was exceptionally large and occurred
but nearly $500 million can be attributed to seasonal movements. (See
CHART 13
table 1 A, lines 2 and 3.) The $485
million in net transfers of liquid assets
U.S. Private Capital Outflows
to foreign accounts followed net reBillion $
Billion $
ceipts of $240 million in the second 1.5
1.5
quarter and net transfers of $710 milINCREASES IN
NET PURCHASES OF FOREIGN SECURITIES AND
CORPORATE ASSETS ABROAD
NET INCREASE IN CLAIMS ON FOREIGNERS
lion to foreigners in the first. For
REPORTED BY U.S. BANKS
the first 9 months of 1965, net transfers
to foreign accounts amounted to $950
1.0
1.0
million, or $1% billion at an annual
rate. This was a substantial improveA Banking Claims
ment as compared with net transfers
of $2.8 billion in 1964 and $2.7 billion
in 1963.
Reserve assets declined during the
third quarter by $40 million, slightly
less than the $68 million drop in the
second. Gold sales, however, were substantially reduced, declining to $124
million from $590 million in the second
: Other Corporate; Assets: j
quarter and $832 million in the first.
Third quarter gold sales were con-.5
centrated in July and August. The
1?64
1965
1963
gold stock rose slightly in September
Quarterly, Seasonally Adjusted
and again in October. Thus, the most U.S. Department of Commerce, Office of Business Economics
underlying reasons, they can be considered an extraordinary factor in the
balance of payments.
Advances by foreign countries on
military sales contracts, which exceeded current deliveries in the second
quarter by $133 million, fell short of
deliveries by $19 million in the third
quarter. These changes were more
than offset, however, by receipts of
$179 million from France as advance
repayment of postwar loans.
These extraordinary transactions resulted in net payments of about $80
million in the third quarter as compared
with $120 million in the second, representing a favorable change of $40
million.




mostly in July and August. It compares with an increase" of $30 million
for the first half of 1965, of $619 million
for the year 1963, and of $1,554 million
for 1964.
Several developments account for the
third quarter rise. About half of the
increase can be attributed to the net
effect of various actions taken by
certain central banks to transfer dollar
deposits to foreign private banks, including foreign branches of U.S. banks,
and smaller transactions in the opposite
direction undertaken by other central
banks. Such actions may take the
form of forward contracts on the exchange markets, loans, or deposits.
In many instances, the central banks
provide special inducements to the
foreign banks to engage in such transactions.

A major part of the remaining half
of the rise in liquid dollar assets reported
to foreign private accounts was probably associated with the dollar sales by
the British authorities to support the
exchange rate for the pound. As
indicated above, these transactions were
gradually reversed, starting in September.
An alternative concept of analyzing
the balance of payments was recommended by the Review Committee on
Balance of Payments Statistics to the
Bureau of the Budget last spring.1
1
The Balance of Payments Statistics of the United States,
a Review and Appraisal, Government Printing Office, April
1965. A full discussion of the two concepts for analyzing the
balance of payments may be found in the record of the
Hearings [on the Balance of Payments Statistics] before the
Subcommittee on Economic Statistics of the Joint Economic
Committee, Congress of the United States, Eighty-ninth
Congress, First Session. Part I, May 11,1965; Part 2, June
8,1965; Part 3, June 9,1965.

Table 5.—Movements of U.S. Short-Term Capital Reported by Banks
and Nonfmancial Concerns
(Millions of dollars)
Changes 'i (decreases (-))
Amount
outstand1965
ing end of Calendar
Sept. 1965 year 1964
Ir

-374

-256

-21

-43

-181
-193

-258
-8

278
82
109
87

-65
-110
68
-23

-212
23
-61
—174

-84
59
-14
-129

1,084
501
110
140
333
412

242
95
18
36
93
36

-26
88
—14
-16
-84
-39

-119
-112
13
2
-102
-13

-58
11
6
-1
-74
-26

5, 994
2,750
2, 047
1,197

1,245
482
469
294

44
53
-35
26

31
14
-20
37

-174
-121
-28
-25

5,871
123

1,224
21

30
14

52
-21

-167
-7

2,439

588

-237
-854

-193
-2S1

2

._

2,335

605

-237

-206

-_ __ _

1,351
291
365
695

393
51
35
307

-209
35
-25
-219

-189
-71
16
-134

-3
-2
8
-9

n.a.
n.a.

376
17

-167
-42

-170
-19

n.a.
n.a.

984
n.a.
n.a.

212
165
47

-28
-20
-8

-17
-14
-3

5
n.a.
n.a.

104

-17

Total short-term capital outflow (table 3, lines 37a plus 37b)
Seasonally adjusted (table 1, lines 24 plus 25).
Total reported by U.S. banks 2 (table 3, line 37a)_. .
Seasonally adjusted (table 1, line 24),
Major financial centers, total
United Kingdom __
EEC and Switzerland
Canada
_
By type:
Commercial and financial claims payable in dollars
Loans
Acceptance credit.
Collections outstanding
.
Other dollar claims
_ _
_
Foreign currency deposits and claims
Other countries, total____
. . .._
Japan _
Latin American Republics
._
Other
. . .
By type:
Commercial and financial claims payable in dollars- Foreign currency deposits and claims
Total reported by nonfinancial concerns (table 3, line 37b)
Seasonally adjusted (table 1 , line 25)
..
Claims of commercial enterprises 3.
Major financial centers, total
United Kingdom
_
EEC and Switzerland—
Canada

__

Claims payable in dollars..
Foreign currency deposits and claims
Other countries, total _ __ _
Claims payable in dollars
Foreign currency deposits and claims
Claims of brokerage concerns

III*

Ilr

.__

9,929

2,111

7,490

1,523

1,496
282
536
678

-258
-297

-4*4

-49

-41

2

13

r
Revised.
* Preliminary, n.a. Not available.
1. Changes adjusted for variation in coverage and therefore do not necessarily correspond to changes computed from
reported amounts outstanding.
2. Excludes Exchange Stabilization Fund holdings.
3. Third quarter 1965 estimated on the basis of partial preliminary reports; amount outstanding at the end of September
1965 estimated on the basis of figures for the end of June 1965 plus the preliminary data on movements during the third quarter

26




According to that concept, the balance
is measured by changes in U.S. official
reserve assets and in liquid and certain
nonliquid claims on the United States
by foreign official holders only. In
the preliminary presentation of this
balance in this issue of the SURVEY,
the nonliquid claims consist only of
certain nonmarketable, medium-term,
nonconvertible Government securities.
These securities are denominated in
foreign currencies and were issued to
Italy in 1962 and 1963, and to Switzerland in 1962, 1963, and 1964. Most of
those issued to Italy were redeemed in
1963, and the remainder in the first
quarter of 1964. Those issued to
Switzerland were renewed when they
matured. There were no net transactions in such securities in the first
three quarters of 1965.
^
With liquid liabilities to foreign
official agencies declining by $300
million and U.S. reserve assets declining by $40 million, the third quarter
balance under this concept was favorable by $260 million. This was an
improvement of $65 million from the
second quarter, and of about $900
million from the adverse balance of
$640 million in the first quarter. For
the first 9 months of 1965, the balance
was adverse by $175 million, which
corresponds to an annual rate of about
$230 million. This compares with an
adverse balance of nearly $2 billion in
1963 and $1.2 billion in 1964.
From now on, this alternative balance
will be presented together with the
balance which is based on the liquidity
concept and which takes into account
the rise in liquid liabilities not only to
foreign official agencies but also to
other foreign accounts.

Revisions for 1966 in the Program to Improve the Balance of Payments
Although—with cooperation by
banks and business enterprises—the
adverse balance on international transactions during the first three quarters
was reduced to $1.3 billion as compared with nearly $3 billion in the 2
preceding years and over $3 billion for
several years before then, the President
found it desirable to extend the voluntary program into 1966 with certain
modifications.

Table 6.—Changes in U.S. Reserve Assets and in Foreign Holdings of Liquid Assets
As was pointed out earlier in this
in the U.S.
article, a considerable part of the 1965
(Millions of dollars)
improvement was due to the repatriaAmount
Changes during period
tion of foreign assets, a development
Increase in assets (— )
outstanding
Increase in liabilities (+)
end of
that is unlikely to be repeated next
1965
Sept. 1965 Calendar
year 1964
year. Military expenditures abroad
II r
I
III P
are rising, and the growth in domestic
I. U.S. reserve assets, total (table 3, line 50)
_ .
15,721
171
842
68
40
production and income tends to raise
1. Gold.
... .
.
113,925
125
832
1590
124
2. Convertible currencies
959
-220
-58
-56
-413
imports and travel expenditures. Fur3. IMF gold tranche position
1837
266
68
i -466
329
thermore, the prospective balance for II. Foreign holdings2 of liquid assets in the U.S., total (table 3, lines
49aplus49b)
28,974
2,627
-662
-268
935
1965, although greatly improved, was
A. By foreign holders:
not yet low enough to be sustainable.
1. Foreign central baT^s nnrj governments, total
14, 704
1,073
-861
-107
244
a. Deposits and short-term securities reported by U.S.
To meet the balance of payments
banks
_
12,329
757
-928
-92
124
b U.S. Government marketable bonds and notes
1, 124
-59
16
-2
-15
problem, several major modifications of
c. U.S. Government nonmarketable
convertible bonds..
1,251
375
122
51
2
2. International Monetary Fund _._._
_.__
808
8
the program have been proposed by the
3. Foreign commercial banks 3
7,763
1,440
186
-254
653
Cabinet Committee on Balance of Pay4. Other international and regional institutions
..
1,573
-245
-65
-26
-56
5. Other foreigners and undetermined.
•_ ;
4, 126
359
78
119
86
ments and accepted by the President.
B. By type of liability:
1. Deposits in U.S. banks ._
___
13, 842
1,730
-12
-184
578
They were announced on December 6.
2. U.S. Government obligations:
The following paragraphs are excerpts
a. Bills and certificates payable in dollars.—
7,755
109
-742
-331
29
b Bonds and notes (marketable)
2,427
-338
-90
78
34
from a summary of these recommendac. Nonmarketable certificates payable in foreign currencies,
-30
d. Nonmarketable convertible bonds
1, 251
375
51
122
tions:
e. Other .
_
8
8
1. The present voluntary Commerce
3. Bankers acceptances, commercial paper, time deposit
certificates, and other liabilities
_ .
3, 573
767
157
131
148
program to reduce the outflow of busi4. Other banking liabilities payable in foreign currencies
118
14
-26
38
16
ness capital is to be reinforced by the
establishment both of an overall target,
' Kevised.
* Preliminary.
1. Reflects $259 million payment of gold portion of increased U.S. subscription to IMF.
similar to that of 1965, and a new
2. Includes liabilities of U.S. monetary authorities for gold deposited by and held for IMF. Excludes dollar holdings of
IMF except for those acquired by the IMF through gold sales to the U.S. with the option to reverse the transactions.
target specifically applicable to direct the
These transactions amounted to $200 million in 1956, $300 million in 1959, and $300 million in 1960.
3. Includes banking liabilities to foreign official institutions held through foreign branches of U.S. banks and foreign cominvestment calling upon corporations mercial banks.
to limit direct investments during the
two-year period 1965-1966 to 90 per- Table 7.—Changes in Reported Foreign Gold Reserves and Liquid Dollar Holdings Through
Recorded Transactions With the United States and Through Other Transactions, by
cent of the amount invested during the
Areas
three-year period 1962-64. For this
1964
1965
purpose, direct investment is defined to
include net outflows from the United
II r
I
II
I
Year
III
III*
IV
States plus the undistributed profits of
subsidiaries abroad. The new target All areas:
—243
3, 552
1. Total increase 1
1,033
—112
1 164 1 139 1 361
—71
-231
2. Through transactions with United
States *__ 2,709 -243
946
1,342
159
610
1,000
will permit an average annual level of
-12
3. Through other transactions 3.
__
87
843
554
139
-230
19
131
Western
Europe:
direct investment during 1965 and 1966
779
2,449
161
695
1,125
-170
806
1. Total increase
—177
158
229
151
2. T'hrough transactions with United States ...
373
426
306
-61
-298
combined equal to 135 percent of the
621
-321
-68
3. Through other transactions
2,076
389
121
380
1,186
Eastern
Europe:
annual average during the 1962-64
-1
-2
6
4
—4
5
—5
1. Total increase _.
-3
1
7
-14
9
2. Through transactions with United States. _. -197
-55
-5
-123
period. The targets will apply to
9
4
-1
-3
3. Through other transactions
193
-5
60
120
Canada:
direct investment in countries now sub—62
397
121
142
-425
207
—253
197
1. Total increase
-486
163
-84
109
68
173
-410
2. Through transactions with United States ...
-48
ject to the Interest Equalization Tax,
424
234
-15
205
129
98
—31
3. Through other transactions
_ _:
—205
Latin
American
Republics
and
Other
Western
Hemiincluding Canada, and several oil pro- sphere:
-86
55
-35
146
231
187
1. Total increase
380
38
ducing countries in Africa and Asia.
r-197
-98
75
149
270
507
207
2. Through transactions with United States ...
76
U.S. Net Capital Outflows for Direct Investments and Undistributed Profits in Developed Countries

(Millions of dollars)
1962-64
1965-66
target

Direct
investment
outflow

Undistributed
profits

Total

4, 892

3,027

7, 919

7 127

1,937
1,833

1,900
101
1,026

3,837
1 934
2,148

3,453
1 741
1 933

All industries
Manufacturing. _
Petroleum
Other

1,122

2. The Interest Equalization Tax on
purchases of foreign securities and
acquisitions of other long-term claims




3. Through other transactions
._
Japan:
1. Total increase
2. Through transactions with United States. ..
3. Through other transactions
Australia, New Zealand and South Africa:
1. Total increase _
2. Through transactions with United States...
3. Through other transactions.. _ _ _ _ _ __
Other Asia and Africa :
1 . Total increase
______
2. Through transactions with United States. _ _
3. Through other transactions.
International Institutions and Unallocated:
1. Total increase
2. Through transactions with United States...
'
3. Through other transactions

—127

-38

71

-184

24

-83

111

153

249
576
-327

—15
117
-132

—51
96
-147

124
117
7

191
246
-55

97
71
26

-7
128
-135

104
53
51

-32
-609
577

-15
-121
106

—9
-151
142

-2
-150
148

-6
-187
181

-61
-113
52

-94
-177
83

-36
-166
130

443
404
39

236
-17
253

66
157
-91

88
92
-4

53
172
-119

278
306
-28

72
374
-302

10
272
-262

-140
385
-525

77
.90
-22

80
106
-26

77
80
—3

-374
100
-474

19
92
-73

-843
8
-851

336
133
203

1. Changes in reported total gold reserves of foreign central banks and governments (including international organizations
but excluding the countries of the Soviet bloc) net of convertible currencies held by U.S. monetary authorities, plus foreign
liquid claims on the United States plus net changes in foreign IMF positions through U.S. dollar transactions.
2. For "All areas" equals balance (with reverse sign) of line 23 (less net sales of gold by domestic sources to (+) or purchases
from (-) the monetary gold stock of the United States) plus lines 25, 30, 43, and 51, table 3). Domestic sales to (-f) or
purchases from (—) the monetary gold stocks were in millions of dollars: 1964,1, —19; II, -22; III, -21; IV, -27; 1965,
I, -21; II, -31; III, -29.
3. Line 1 minus line 2 for all areas represents gold obtained by foreign central banks and governments outside the United
Source: U.S. Department of Commerce, Office of Business Economics.

27

on foreigners by Americans will be exemption from the Interest Equalizamade applicable to the same oil pro- tion Tax for an unlimited amount of
ducing countries.
new Canadian security issues will both
3. The present ceiling for bank lend- be continued.
ing to foreigners under the Federal
6. The current efforts by all GovernReserve program will be raised from ment agencies to reduce to a minimum
105 percent of the December 31, 1964 the balance of payments impact of
base, in stages of 1 percentage point their operations will be intensified.
per quarter, to a new ceiling of 109
7. Present efforts to encourage both
percent in the final quarter of 1966. foreign and domestic tourism in the
In addition, certain smaller banks will United States will be stepped up, and
each be permitted to make foreign efforts by the Government to encourage
loans up to a total of $450,000.
and expand the activities of the private
4. The ceiling for lending by non- sector in this area will be increased.
bank financial institutions to foreigners
8. Present efforts both by Governunder the Federal Reserve program ment and by private enterprise to
will be increased, in the case of credits expand U.S. export trade will be sharply
with maturities of 10 years or less, stepped up.
from 105 percent of the December 31,
1964 base in stages of 1 percentage
point per quarter to a new ceiling of
109 percent in the final quarter of 1966.
In the case of acquisitions by such Business Investment Program
(Continued from page 9)
institutions of foreign securities with
maturities of more than 10 years, a
ceiling of 105 percent of the September
30, 1965 amount would be set for se- companies are asked to evaluate their
curities of developed countries other facilities as "more needed/' "about
.adequate/' or "in excess of needs" in
than Canada and Japan.
5. The basic arrangement with the light of current and expected sales
Canada regarding Canadian access to over the next 12 months. Firms holdthe United States capital market and ing 49 percent of total fixed assets in
manufacturing reported that their facilities on September 30 were inadequate
Table 8.—U.S. Merchandise Trade, 1964
for near-term needs. The correspondand January-September 1965
ing proportions for June 30, 1965, and
(Seasonally adjusted, millions of dollars)
September 30, 1964, were 47 percent
19 64
1965
and 39 percent respectively.
Companies reporting facilities in exFirst Second First Third
half
half quarter
half
cess of prospective needs owned 6
percent of assets, a proportion that has
Exports:
As shown in table 1 1... 12, 216 213,072 12, 334
6,806
been
maintained throughout 1964 and
Estimated effect of
strikes in3 shipping
1965.
Facilities evaluated as "about
industry ^
250
—220
—30
After strike adjust2
adequate"
represented 45 percent of
ment
12, 216 12, 852 12, 584
6, 776
Annual rate, after
manufacturing
assets as of September
strike adjustment
24, 432 225,704 25,168 27, 104
30;
2
percentage
points below the
Imports:
As shown in table 1 L._ 9,009
9,610 10, 132
5,521
June
30
figure
and
down
11 percentage
Estimated effect of
strikes in shipping
points
from
September
1964.
industry 3
80
—60
—20
After strike adjustThe rise in the percentage of facilities
ment
9,009 9, 550 10, 212
5,501
Annual rate, after
regarded
as "inadequate" during the
strike adjustment
18,018 19,100 20, 424 22, 004
third
quarter
occurred mainly in the
Net exports:
As derived from table
2
durable goods industries. In this
1i
3, 207 3, 462 2,202
1,285
Estimated effect of
group, which covers machinery, transstrikes in shipping
industry 3 _ . _ _ _ _ _ _ _ _
-160
170
—10
•
portation equipment, and fabricated
After strike adjustment
3, 207 2 3, 302 2,372
1,275
metal
products, the "inadequate" proAnnual rate, after
strike adjustment. _ _ _ 6,414 2 6, 604 4, 744
5,100
portion was 6.1 percent, a substantial
rise over the quarter and double the
1. Adjusted to a balance of payments basis from the
recorded merchandise trade data of the Bureau of the Census.
percentage a year earlier.
Includes estimated amount of imports not reported in third
quarter 1965 because of changes in recording procedures and
Nondurable goods industries as a
delays in processing peak loads.
2. Includes extraordinary silver exports estimated at $65
group reported little change in their
million.
3. Estimated distortions in trade preceding, during and
evaluations between June 30 and Sepafter the shipping strikes. The longshoremen's strike began
January 16 and continued until early March; the maritime
strike began June 16 and continued until the end of August. tember 30. The proportion of facilities

regarded as "inadequate" was 5 percentage points above a year earlier,
and the "about right" category declined
6 points. During the third quarter,
the percentage of food-beverage companies desiring more plant and equipment rose 4 points, while the corresponding ratio for petroleum companies
remained unchanged, and the ratio for
chemicals declined 3 points.
Public utility investment rising
sharply

Public utilities expect to increase
their capital spending by 3 percent
from the third to fourth quarter, and
by an additional 10 percent in the first
quarter of 1966. The electric utilities
account for most of the projected rise
in spending programs in the fourth
quarter, but gas companies as well as
electric utilities are projecting sizable
increases for the first quarter of 1966.
The carryover of uncompleted projects by utility companies totaled $7%
billion at the end of the third quarter,
up $1 billion from September 1964.
The margin of year-to-year gains has
been rising steadily during 1965. Moreover, the seasonal decline of $400
million during the third quarter was
less than the corresponding declines in
1963 and 1964. Starts in the third
quarter, which declined seasonally from
the second quarter, were $200 million
more'than in the third quarter of last
year.
Outlays by the railroads rose appreciably in the third quarter of 1965.
Further increases, primarily in outlays
for equipment, are projected for the
fourth and first quarters.
Nonrail transportation companies
have substantially expanded their investment schedules in recent quarters.
Capital outlays reached a $3 billion
annual rate in the third quarter and
are expected to move up sharply. The
upsurge is due primarily to the airlines,
which expect to receive large deliveries
of short- and medium-range jet aircraft.
The steady, though moderate, uptrend in expenditures for new plant
and equipment by the communicationscommercial group is expected to continue in the current quarter, with all
of the component industries contributing to the rise. Expenditures are
projected to level out in the first
quarter of next year because of minor
declines scheduled by some commercial
groups.

28



U.S. GOVERNMENT PRINTING OFFICE: 1965

O—793-966

CURRENT BUSINESS STATISTICS

A HE.STATISTICS here update series published in the 1963 edition of BUSINESS STATISTICS, biennial Statistical Supplement to the SURVEY
OF CURRENT BUSINESS. That volume (price $2.00) contains data by months, or quarters, for the years 1959 through 1962 (1951-62, for major
quarterly series) and averages of monthly or quarterly data for all years back to 1939; it also provides a description of each series and references
to sources of earlier figures. Series added or significantly revised after the 1963 BUSINESS STATISTICS went to press are indicated by an asterisk
(*) and a dagger (f), respectively; certain revisions for 1962 issued too late for inclusion in the aforementioned volume appear in the monthly
SURVEY beginning with the August 1963 issue. Also, unless otherwise noted, revised monthly data (for periods not shown herein) corresponding
to revised monthly averages are available upon request.
Statistics originating in Government agencies are not copyrighted and may be reprinted freely,
through the courtesy of the compilers, and are subject to their copyrights.
Unless otherwise stated, statistics through 1962
and descriptive notes are shown in the 1963
edition of BUSINESS STATISTICS

1962

| 1963 | 1964

1962
III

Annual total

|

Data from private sources are provided

1963

IV

I

II

1964

III

IV

I

II

1965

. HI

IV

I

II

III

Seasonally adjusted quarterly totals at annual rates

GENERAL BUSINESS INDICATORS—Quarterly Series
NATIONAL INCOME AND PRODUCT
-bil. $__

560.3

589.2

628.7

564.4

572.0

577. 0

583.1

593.1

603.6

614.0

624.2

634.8

641.1

656.4

665.9

677.5

Personal consumption expenditures, total.. do —

355. 1

373.8

398.9

357.2

363.0

368. 0

371.1

376.6

379.5

389.1

396.0

404.6

405.9

416.9

424.4

432.2

Durable goods, total ©
»
, do
Automobiles and parts
do
Furniture and household equipment. --do.—.
Nondurable goods, total ©
do
Clothing and shoes
.._ do.___
Food and beverages
do....
Gasoline and oil
do
Services, total ©
do
Household operation _. . __
do
Housing
__„
do
Transportation
do
Gross private domestic investment, total. _ .do
Fixed investment
do
Nonresidential
_ _
do
Structures.
_do
Producers' durable equipment
do
Residential structures
do
Nonfarm __ _
do
Change in business inventories
do
Nonfarm
»
do
Net exports of goods and services...
.do
Exports
do
Imports
do
Govt. purchases of goods and services, total.. do
Federal
do
National defense
. do
State and local.
_ _
:_. do .
By major type of product:!
Final sales, total
......do
Goods, total
....
do
Durable goods
do
Nondurable goods _
.
do
Services —
do
Structures __
do
Inventory change, total
do....
Durable goods
.
do
Nondurable goods
..do,...

49.5

22.0
20.5
162.6
29.6
85.7
12.9
143.0
22.0
52.0
11.0
83.0
77.0
51.7
19.2
32.5
25.3
24.8
6.0
5.3
5.1
30.3
25.1
117.1
63.4
51.6
53.7

53.4
24.3
21.9
168.0
30.5
88.2
13.5
152.3
23.1
55.5
11.4
86.9
81 2
54.3
19. 7
34.6
26.9
26.3
5.7
4.9
5.9
32 4
26.4
122.6
64.4
50.8
58.3

58.7
25.8
24.7
177,5
92.3
14.0
162. 6
24.4
59.5
11.7
92.9
88.1
60.5
21.1
39.4
27.5
27.0
4.8
5.4
8.6
37.0
28.5
128.4
65.3
49.9
63.1

50.1
22.3
20.7
163.2
29.7
86.2
12.9
144 0
22.2
52.6
11 0
84.3
79.2
63.1
19.7
33.5
26.0
25 A
5.2
4.3
5.4
30 6
25.2
117.4
63.3
51.3
54.1

51.1
23.0
21.0
165.3
30.2
86.7
13.4
146 7
22.4
53.6
11 2
84.7
78 3
52.7
19.5
33 2
25.6
25.0
6.4
5.3
4.9
30 5
25.5
119.3
64.4
50.9
55 0

52.2
23.6
21.4
166.6
30.3
87.5
13.3
149 2
-22.8
54.5
11.3
82.6
78.1
52.1
19.0
33.1
26.0
25.4
4.5
3.8
4.5
30 0
25.6
121.9
65.4
51.5
56.5

52.6
23.9
21.4
167.4
30 2
88.1
13.4
151 1
22 8
55.3
11 4
84.8
80 1
53.4
19.2
34 2
26 7
26.1
4.7
4 2
6 2
32 4
26 2
120.9
63 6
50.5
57 4

54.1
24.6
22.1
169.2
31.1
88.5
13.5
153 3
23 5
55.7
11 4
87.9
82 1
55 1
20.0
35 1
26 9
26.4
5.8
52
57
32 6
26 9
123.0
64 2
51.0
58 8

54.9
24.9
22.7
168.9
30 6
88.7
13.7
155 7
23 3
56.5
11 5
92.4
84 3
56 5
20.5
36 0
27 9
27.3
8.1
69
73
34 4
27 1
124.3
64 4
50 3
59 9

57 4
25.5
23.9
173.7
32 3
90.6
14.0
158 0
23 6
57.5
11 7
89.7
86 5
58 1
20.7
37 5
28 4
27.8Q
3.0
36
88
36 3
27 5
126.3
65 0
49 8
61 3

59.1
25.7
25.1
175.7
33 2
91.3
13.9
161 2
24 4
58.8
11 7
90.9
86 8
58 9
21.1
37 9
27 9
27.3
4.1
51
77
36 0
28 2
129.7
67 0
51 7
62 7

60.5
27.1
25.0
179.8
33 8
93 3
14.0
164 3
24 8
60 1
11 8
92.6
88 8
61 6
21 1
40 5
27 2
26 6
3.8
46
88
37 3
28 5
128.7
64 9
49 5
63 8

57 9
24.8
24.8
180.9
34 0
94 1
14.2
167 1
24 8
61 4
11 9
97. 7
90 2
63 5
21 5
42 0
26 7
26 2
7.5
78
89
38 4
29 5
128.6
64 3
48 8
64 3

63 9
29.7
25.3
183.0
34 3
94.9
14.2
170 0
24 9
62 7
12 0
102.4
93 7
66 0
21.8
44 2
27 7
27.1
8.7
93
6 2
34 8
28 6
130.9
64 9
48 9
66 0

63 7
28.9
25.6
187.6
35 0
97 2
14 7
173 1
25 3
64 0
12 1
101.1
94 4
66 4
22 7
43 7
28 0
27 5
6.7
71
7 5
39 8
32 3
132.9
65 9
49 4
67 0

65 0
29.8
26.1
191.1
35 7
99 3
14.8
176 1
25 9
65 3
12 2
102. 0
95 9
68 3
23.2
45 1
27 6
27.1
6.1
60
81
40 0
31 8
135.2
67 1
50.8
68 1

554.3
278.5
106.2
172.2
213.3
62.6
6.0
2.8
3.2

583.5
291. 1
113 1
178.1
226.9
65.5
5.7
2.8
2.9

623.9
311.3
122 8
188.4
244. 0
68.6
4.8
3.3
1.5

559.2
281 1
107 9
173. 2
214 6
63.6
5.2
2.9
2.3

565.6
283 8
108 1
175. 6
218 5
63.4
6.4
1.7
4.7

572.5
287 2
109 8
177.4
222 1
63.2
4.5
2.0
2.5

578.4
289 2
112 0
177 2
225 1
64.1
4.7
3.4
1.4

587.3
292 9
114 3
178 6
228 2
66 2
5.8
2 3
3.5

595.5
295 3
116 2
179 1
232 1
68 0
8.1
38
4.3

610.7
304 9
120 1
184 9
237 3
68 5
3.3
2 2
1.1

620.1
308 3
121 6
186 8
242 8
69 0
4.1
35
.6

631.0
316 0
125 4
190 6
246 4
68 6
3.8
27
1.1

633.6
315 8
124 3
191 5
249 7
68 1
7.5
44
3.1

647.6
323 8
130 9
192 9
254 2
69 6
8.7
71
1.6

659.2
330 5
132 3
198 2
257 8
70 9
6.7
6 2
.5

671.3
338 2
136 0
202 3
262 0
71 1
6.1
59
.2

Gross national product, totalf

QO O

GNP in constant (1958) dollars
530.0

550.0

577.6

533.6

538.5

541.2

544. 9

553.7

560.0

567.1

575. 9

582.6

584.7

597.5

601.4

609.7

Personal consumption expenditures, total.. do... „ 338.6

352.4

372.1

340.3

344.8

348.3

350.0

355. 1

356.4

364.5

369.8

377.3

376.8

385.9

390.2

396. 7

49.2
158. 4
131.1

53.2
161.8
137.3

58.5
169.4
144.2

49.7
158.9
131.8

50.8
160.2
133 8

52.0
161.0
135.3

52.3
161.2
136 5

54 1
163. 0
138 0

54 7
162.1
139 6

57 0
166 4
141 1

58 7
167 8
143 3

60 2
171 6
145 5

57 9
171.8
147 1

63 7
173.4
148 8

63.5
176.2
150 5

66.0
178. 4
152.3

79.4
73.4
49.7
23.8
6.0
4.5

82.3
76.6
51 9
24 7
5.7
5.6

86.3
81.7
57 1
24 6
4.6
8.5

80.6
75.3
51.1
24.2
5.3
4.9

80.7
74.5
50 7
23 8
6.2
4.4

78.7
74.2
50 0
24.2
4.4
4.0

80.5
75.8
51 2
24.6
4.6
5.8

83.0
77.2
52 6
24 6
58
5.5

86.9
"79 0
53 7
25 3
79
7.1

83.8
80 7
55 1
25 7
30
9.0

85.2
80 7
55 7
25 0
45
8.1

86.0
82 2
58 1
24 1
38
8.7

90.2
83 1
59 6
23 6
71
8.3

94.7
86.2
61 9
24 3
8.6
6.0

93.0
86.5
62 0
24 5
6.5
6.7

92.9
87.0
63 4
23.6
5.8
7.3

Gross national product, totalf
Durable goods
Nondurable goods
Services ..

-

,

. __ _

bil. $..
do
..do
do

Gross private domestic Investment, total... do....
Fixed investment
do
Nonresidential
do
Residential structures
do
Change in business inventories.. _ _
do
Net exports of goods and services
do

Govt. purchases of goods and services, total-do.... 107.5
107.8
110.7
109.8
108.5
Federal
_
_
do
60.0
60.2
59.7
57.8
60.6
State and local
do
47.5
52.8
47.6
50.0
48.0
r
Revised. *> Preliminary. fRevised series. Estimates of national income and product
and personal income have been revised back to 1929 (descriptive material and earlier data
appear on p. 6 ff. and p. 24 ff., respectively, of the Aug. 1965 SURVEY); revisions prior to June
793-966 O-65-3




108.7
110.3
110.0
109.6
109.9
112.8
59.2
61.3
59.7
59 9
58 7
58 2
49.1
49.5
50.3
50.8
51.7
52.9
1964 for personal income appear on pp. 54-56 of the
shown separately.

112.9
110.9
109.4
111.5
110. 5
57.6
56.4
56.8
57.1
56.1
55.3
54.5
54.7
53.4
53.3
Aug. 1965 SURVEY. ©Includes data not

s-1

SUEVEY OF CURRENT BUSINESS

S-2
Unless otherwise stated, statistics through 1962
and descriptive notes are shown in the 1963
edition of BUSINESS STATISTICS

1962

1963

1964

1963
I

Annual total

II

December 1965
1964

III

IV

I

1965
III

II

IV

I

II

1966
III

IV

I

GENERAL BUSINESS INDICATORS—Quarterly Series—Continued
NATIONAL INCOME AND PRODUCT— Con.
Quarterly Data Seasonally Adjusted at Annual Rates
National income totalf
bil $

481.1

514. 4

470.4

476.7

484.6

492.6

501.6

510.5

519.5

526.3

541.4

550.3

'558 5

do_ __

323.6

341.0

365.3

333.6

338.0

343.0

349.5

355.1

361.9

369. 0

375.4

383.1

388.7

395.2

Wages and salaries, total
do
Private
_ _
do __
Military
do
Government civilian
do
Supplements to wages and salaries
do
Proprietors' income total 9
do
Business and professional 9
do
Farm
_
_
_do_ __
Rental income of persons
do
Corporate profits and inventory valuation adjustment total
-.„
bil. $

296.1
240.1
10.8
45.2
27.5
50.1
37.1
13.0
16.7

311.2
251.6
10.8
48.8
29.8
50.8
37.8
13.0
17.6

333.5
269.2
11.7
52.6
31.8
51.1
39.1
12.0
18.2

304.5
246.3
10.5
47.7
29.0
50.7
37.5
13.2
17.1

308.4
249.4
10.6
48.4
29.6
50.5
37.6
12.9
17.4

312.9
253.2
10.7
49.1
30.1
50.9
37.9
13.0
17.7

318.8
257.4
11.6
49.9
30.7
51.0
38.0
13.0
18.0

324.2
261.6
11.6
51.0
30.8
50.4
38.5
11.9
17.9

330.4
266.9
11 6
51.9
31.5
51 0
39.0
12.0
18 1

336.8
271.7
11.7
53.3
32.2
51.4
39.4
12.0
18.3

342.6
276.5
11.9
54.3
32.7
51.8
39.6
12.2
18.5

349.8
282.9
11.8
55.0
33.4
51.9
39.9
12.0
18.5

355.0
287.3
11.8
55.9
33.8
54.6
40.1
14.5
18.6

360.9
291.9
12 3
56.7
34.2
54.6
40.4
14.2
18.6

55.7

58.1

64.5

56.3

57.6

59.1

59.6

63.6

64.5

65.5

64.9

71.7

72.0

'73.5

do
do_
do
do
__do _
do

55.4
24.2
31.2
15.2
16.0
.3

58.6
26.0
32.6
15.8
16.8
-.4

64.8
27.6
37.2
17.2
19.9
-.3

56.1
24.9
31.2
15.6
15.6
.2

58.5
26.0
32.6
15.7
16.8
-.9

58.9
26.1
32.8
15.8
17.0
.2

60.8
27.0
33.8
16.1
17.7
— 1.2

64.0
27.3
36.7
16.7
20.0
—.4

64 5
27.5
37 0
17 1
19.9
0

65.3
27.8
37.5
17.4
20.1
.2

65.9
28.1
37.8
17.7
20.0
— 1.0

73.1
29.1
44.0
17.8
26.2
— 1.4

73.7
29.4
44.4
18.2
26.1
-1.7

'74.6
'29.7
'44.9
18.6
26.2
—1.1

__do

11.6

13.6

15.2

12.7

13.2

13.9

14.5

14.5

15 0

15.4

15.7

16.1

16.4

16.7

442.6
57.4
385.3
363. 7
21.6

464.8
60.9
403.8
383.4
20.4

495.0
59.2
435.8
409.5
26.3

456. 1
60.4
395.7
377.1
18.5

460 1
60.6
399.4
380.5
18 9

467.1
61.0
406.1
386.3
19.8

475.6
61.6
414.0
389.5
24.4

483. 0
60.4
422.6
399. 3
23.3

6
9
6
3
3

499.1
58.8
440.3
415.3
25.0

507.1
60.7
446.4
416.9
29.5

516.6
64.8
451.9
428.1
23.8

524.9
66.0
458.9
436. 0
23.0

535.9
64.6
471.3
444.1
27.2

11.09

12.84

10. 79 . 12.81

Compensation of employees, totaL __

Corporate profits before tax, total
Corporate profits tax liability.
Corporate profits after tax
Dividends
Undistributed profits
Inventory valuation adjustment
Net interest

DISPOSITION OF PERSONAL INCOMEf
Quarterly Data Seasonally Adjusted at Annual Rates
Personal income total
bil $
Le^s' Personal tax and nontax payments
do
Equals* Disposable personal Income
do
Less* Personal outlays©
do
Equals' Personal saving §
do
NEW PLANT AND EQUIPMENT
EXPENDITURES
Unadjusted quarterly or annual totals:
All industries
_
bil. $ _

457.7

490
56
433
406
27

37.31

39.22

44.90

8.25

9.74

10.14

9.40

11.11

11.54

Manufacturing
Durable goods industries
Nondurable goods industries

..do _
do
___do

14. 68
7.03
7.65

15.69
7.85
7.84

18.58
9.43
9.16

3.27
1.62
1.65

3.92
1.96
1.95

3.-95
1.96
1.99

4.56
2.31
2.25

3.79
1.93
1.87

4.53
2.30
2.23

4.67
2.37
2.30

5.59
2.83
2.76

4.54
2.25
2.28

5.47
2.76
2.70

'5.73
'2.91
'2.82

'6.78
'3.41
'3.37

5.40
2.70
2.70

Mining
.
Railroads
Transportation, other than rail
Public utilities
.
Communications
Commercial and other

do
do
do
__do
do
do

1.08
.85
2.07
5.48
3.63
9.52

1.04
1.10
1.92
5.65
3.79
10.03

1.19
1.41
2.38
6.22
4.30
10.83

.24
.21
.39
1.04
.85
2.26

.26
.28
.54
1.40
.95
2.41

.27
.29
.45
1.60
.93
2.64

.28
.33
.54
1.61
1.06
2.72

.26
.32
.51
1.18
.97
2.37

.29
.36
.63
1.58
1.10
2.61

.30
.37
.59
1.71
1.06
2.84

.33
.35
.64
1.76
1.17
3.01

.29
.39
.58
1.32
1.08
2.59

.33
.44
.77
1.71
1.24
2.85

'.32
'.44
'.72
'1.88
1.22
'3.10

.35
' .40
' .76
' 1. 94

.32
.40
.89
1.47

Seas. adj. qtrly. totals at annual rates:
All industries

do

36.95

38 05

40.00

41 20

42 55

43 50

45 65

47.75

4Q 00

50 35

' 52 75r 1 KA

14.85

15.30

15.95

7.50

7.65

8.00

16. 45
8.30
8.15

17. 40
8. 85
8.55

17.80
9. 00
8.80

18.85
9. 60
9.20

20.15
10.15
10.00

20.75
10.40
10 40

21.55
10.80
10 70

r H 25

r 19 1 %>

1.05

1.00

1.70
5.20
3.55
9.65

2.05
5.45
3.65
9.65

1.05
I nn
1.85
5.90
3.85
10.20

1.05
1. 35
2.10
5.80
4.05
10.45

1.15
1. 40
2.30
5.95
4.05
10.25

1.15
1.25
2.25
6.30
4.30
10.45

1. 20
1.50
2.40
6.30
4.40
11.00

1.30
1.55
2 60
6.35
4.40
11.40

1.25
1.75
2 55
6.80
4 55
11.30

1.30
1.55
2 7Q
6.85
4 80
11.60

'1.25
'1.70

'1.40
'1.70

Manufacturing
Durable goods industries
Nondurable goods industries

do
__do
do

Mining..
Railroads

..do
do

...

Public utilities.
___„
Communications
Commercial and other

do
do
do

U.S. BALANCE OF INTERNATIONAL
PAYMENTSc?
Quarterly Data are Seasonally Adjusted
U S payments recorded
mil $
Imports :
Merchandise
_
.do
Military expenditures
—
do
Other services
_do
Remittances and pensions
__do
Govt srants and capital outflows^!
do

9,195

9,737

11 000

8 877

9 645

16, 992
2, 929
6,515
837
3,581

18, 619

4,410

7,014
839
3,563

1,736

4,599
720
1,742
203
890

4,709
691
1,736
207
895

4,901
681
1,800
220
1 025

4,663
662
1,832
224
797

5,469
702
1,926
290

5,521
735
1,920
235

4,456
1,976

6,462
2,376

1, 327
464

2,111
—171

589
51

1,569
551
470
406
-70

2 222
'821
833
568
151

1 541
1,159
679
-297
-842

367
891
-100
-424
-68

899

785
-378

1,344
540
256
548
-303

515
356
-49
-40

do

35,333

40, 311

9,506

9,347

10 028

11 430

8 880

9 799

in 91 fi

do
do
do
do __
do
do
do

22, 728
4.654
4,971
2,980
1,599
619

6,343
1,396
1,345
422
187
71
164

6,258
1,395
1,338
356
48
231

6 550
1*392
1,393
693
—116
639
170

6 899
1 274
1,434
1,823
934
613
276

5 760
1 549
1,356
215
200
67
348

6 Q77
I fi/lfi
1,469
-370
070
-37
-60

1,483
190

7fi9

26, 050
5,457
5,510
3,294
1,053
1,554
687

-401

-1, 161

-288

-152

—291

—430

3

77

OQ/(|

—709

242

—485

-642

.205

260

2 670 —2 798

—257

-1, 977 -1. 224

-136

'1 Eevised,
» Preliminary.
Estimates for Oct.-Dec. 1965 based on anticipated capital expenditures of business.
2
Estimates for Jan.-Mar. 1966 based on anticipated capital expenditures of business.
Anticipated expenditures for the year 1965 are as follows (in bil. $): All industries, 51.83;
manufacturing, total, 22.51; durable goods industries, 11.34; nondurable goods industries,
11.18; mining, 1.30; railroads, 1.68; transportation, 2.83; public utilities, 6.84; commercial and
3
other (incl. communications), 16.66.
Includes communications.

582

-351

593
46

-783

QKQ

OK

'6.75
' 6. 95
5 05
' 11. 95'317.30

9,218

Unrecorded transactions (net)
do
Increase in U.S. official reserve assets and decrease
in liquid liabilities to all foreisners
mil $
Increase in U.S. official reserve assets and decrease
in liquid and certain nonliquid liabilities to foreign official agencies.
mil.$__




r ^ HO

39, 150

753

' 34.59

' 23. 00 '24.35
' 11. 75 ' 12. 20

34, 932

Increase in U.S private assets, net
do
Direct investments™
___
do
Long-term portfolio..
_._____do
Short-term.
do
Increase in U.S. official reserve assets, net__do
U S receipts recorded
Exports:
Merchandise and military sales
Income on investments
Other services
Increase in foreign assets in U.S
__
Liquid assets* Foreign official agencies t
Other foreign accounts
Other liquid assets

' 13. 41 ' 1 14. 82 2 12. 48

3

4.01

2 <ifi 70

24.70
12.40f

19 9 »

1.35
1.80
3 on
7.65
3 17. 30

9 932

7QQ

745
-255

l&evisions
for qtrs. prior to 4th qtr. 1962 appear on p. 24 ft.
9 Includes
inventory valuation adjustment. ePersonal
Personal consumption expenditures, interest paid by consumers, and
ayment
?U? foreiSners- § Personal saving is excess of disposable income
tP
c
n? yn?i' n ^°™
Tplete details are given in the quarterly reviews in the
'n n
T fs>!?es °f ^ SuRVEY fLess repayments on U.S. Govt. loans.
onmarketable, medium-term, nonconvertible Govt securities.

SUEVEY OF CUKKENT BUSINESS

December 1965
1963
Unless otherwise stated, statistics through 1962
and descriptive notes are shown in She 1963
edition of BUSINESS STATISTICS

1964

1964

Monthly
average

S-3

Oct.

Nov.

1965
Dec.

Jan.

Feb.

Mar.

Apr.

May

June

July

Aug.

Sept.

Nov.p

Oct.

GENERAL BUSINESS INDICATORS—Monthly Series
PERSONAL INCOME, BY SOURCEf
bil. $__ 1464.8

1495.0

502.8

506.6

512.0

*51S.4
515.8

515.7

518.4

520.7

525.3

528.8

530.5

532.0

3 535. 1
545.7

"541,2

545.6

do— -

311.2

333.5

339.4

342.6

346.2

347.2

349.8

352.2

352.7

355.2

356.9

359.2

360.7

363.3

r 366. 9

370. 0

Commodity-producing industries, total-do....
Manufacturing
do ._
Distributive industries
-do

125.7
100.6
76.0

133.9
107.2
81.1

135.2
107. 9
82.6

137.4
110.1
83.3

139.8
111.9
83.8

140.3
112.6
84.0

141.4
113.6
84.9

142.6
114.6
85.8

142.3
114.4
85.8

143.3
115.0
86.5

144. 2
115.7
86.7

145. 1
116.7
87.2

145. 8
117.3
87.5

146.0
117.6
87.8

r 147. 4
r 118. 8

••88.3

149.1
120.2
88.6

49.9
59.6
14.8

54.1
64.3
16.5

55.6
66.1
17.0

55.8
66.1
17.1

56.2
66.4
17.1

56.4
66.6
17.2

56.7
66.8
17.3

56.9
67.0
17.4

57.2
67.4
17.4

57.7
67.7
17.5

57.9
68.0
17.6

58.5
68.3
17.7

58.8
68.7
17.7

59.2
70.2
17. 7

^59.8
71.3
17.8

60.2
72.0
18.0

37.8
13.0

39.1
12.0

39.4
12.0

39.6
12.2

39.9
12.4

39.8
12.4

39.9
12.0

40.1
11.7

40.0
12.9

40.1
14.7

40.1
15.9

40.3
14.6

40.4
14.0

40.5
14.0

40.6
'14.6

40.7
15.1

17.6
15.8
31.1
35.2

18.2
17.2
34.3
36.6

18.4
17.5
35.1
36.6

18.5
17.7
35.2
36.5

18.5
18.1
35.5
37.0

18.5
17.8
35.7
2
40.1

18.5
17.8
36.0
37.4

18.5
17.8
36.2
37.6

18.6
18.0
36.5
37.8

18.6
18.1
36.7
37.4

18.6
18.6
37.0
37.2

18.6
18.5
37.2
37.6

18.6
18.6
37.5
37.7

18.6
18.8
37.7
348.4

18.7
' 19.0
37.9
'39.2

18.7
19.1
38.2
39.4

11.8

12.4

12.6

12.7

12.8

13.0

13.0

13.1

13.1

13.1

13.2

13.3

13.4

13.5

13.6

447.4

478.7

486.5

490.4

495.3

2499. 1

499.5

502.7

503.4

506.1

508.5

511. 4

513.6

3,245

3,256

5,134

4,168

3,529

3,284

2,429

2,702

2,549

2,574

2,922

3 152

3 864

4 521

5 263

3, 104
Farm marketings and CCC loans, total- do
1, 444
Crops
do
I Ivestock and products total 9
do - - 1,660
404
Dairy products
-.
do
953
Meat animals
do____
276
Poultry and eggs
_do__
Indexes of cash receipts from marketings and CCC
loans, unadjusted:}
116
All commodities
— -1957-59= 100. _
126
Crops
•
do
Livestock and products
-do
108
Indexes of volume of farm marketings, unadjusted:}
116
All commodities
1 957- 59= 100. _
119
Crops
do

3,075
1,428
1,647

4,725
2,760
1,965

4,063
2, 315
1,748

3,479
1,859
1,620

3,198
1,578
1,620

2,292

2,452

2,466

2,546

1,470

1,709

1,662

1,723

2,896
1, 106
1,790

3 046
1 297
1 749

3 224
1 336
1 888

3 903
1 883
2 020

4 923
2 770
2 153

1,050

1 029

1 146

1 275

1 359

Seasonally adjusted, at annual rates:t
Total personal income
Wage and salary disbursements, total

Service industries

.

do

Other labor income
Proprietors' income:
Business and professional
Farm
Rental income of persons
Dividends
Personal interest income

do
_QO____
do
-•

do.
.--do
do;

-

Less personal contributions for social insurance
bil. $_.
Total nonagricultural income

do...-

13.4
3

527 5

' 522 3 526 1

FARM INCOME AND MARKETINGS}
Cash receipts from farming, including Government
payments (48 States) total}
mil. $

114

417
924
278

407

430
905
251

822
399
809
227

743

804

823

438
916
267

454
972
261

326

305

428
888
282

114
124
107

, 176

241
128

151
202
113

129
162
105

119
138
105

85
72
95

91
65
111

92
70
108

95
72
112

108
96
116

113
113
114

120
116
123

145
164
131

183
241
140

118
119
117

180
234
140

157
199
126

135
161
116

124
140
113

84
63
101

88
48
118

86
48
114

87
51
114

105
91
115

114
117
111

118
116
119

140
160
126

181
242
135

418
1,205

1,025

443
971
260

438

278

413

405

291

422

397

318

332

358

INDUSTRIAL PRODUCTION^1
Federal Reserve Index of Quantity Output
Unadj., total index (incl. utili ties) d1 .. 1957-59 = 100. _
By industry groupings:
Manufacturing total
do__
Durable manufactures
_
_
do
Nondurable manufactures
do
IVIining
do
Utilities
-do

124.3

132. 3

135.3

136.2

135.5

136.7

139.1

141.7

141.6

142.6

145.2

139.3

124 9
124 5
125.3
107 9
140.0

133. 1
133.5
132.6
111.3
151.3

136 3
132 6
141 0
114 5

137 7
139 0
136.0
113 4

136 4
140 7
131.1
112 1

137 7
140 7
133.8
110 8

140 5
143 5
136 8
111 1

143 5
147 1
139 0
111 1

143
147
138
113

4
5
2
0

144 6
149 0
139 0
114 4

147 2
151 7
141 5
115 9

140 3
144 9
134 6
112 3

By market groupings:
Final products total
do
Consumer goods
do
Automotive and home goods
do
Apparel and staples
--____do
Equipment, including defense. _
__do----

124 9
125 2
134.4
122.3
124.2

131 8
131. 7
142.8
128. 1
132.0

135 1
136 4
136 5
136.4
132.4

135 5
135 4
153 1
129.8
135.7

135 1
133 3
156 7
125.8
139.1

136 7
136 0
156 8
129.4
138. 3

138 3
137 7
161 5
130.1
139.8

140 9
140 5
167 8
13L8
141. 6

138 5
136 9
162 6
128.7
142.0

139 8
137 8
163 6
129.6
144.2

143 2
141 6
165 8
133'. 9
146.8

100 0

123 7
121.2
126.3

132.8
131.2
134.3

135 5
131.8
139.3

136 8
135.8
137.9

135 9
135.2
136.6

136 7
135.7
137.8

139 8
138.7
140.9

142 5
142.9
142.0

144 3
144.4
144.3

145 0
146.9
143.1

147 0
149.5
144.5

140 3
142.9
137.5

..do

124.3

132.3

131.6

135.4

138.1

138.6

139.2

140.7

140.9

141.6

142.7

do

124. 9

133.1

132 0

136 4

139 4

140 2

140 8

142 3

142 4

143 1

144 1

Durable manufactures 9
__do
Primary metals
do
Iron and steel
do
Nonferrous metals and products
do
Fabricated metal products
do
Structural metal parts____
do

124.5
113 3
109 6
126.7
123 4
120.2

133.5
129 1
126 5
138. 3
132 7
130.3

129.9
133 6
132 5
133.9
130 7
128.6

137.0
136 1
135 2
140.6
136 9
135.8

140.9
138 6
136 4
150.9
139 7
L37.2

142.0
139 6
137 i
148.0
140 6
137.0

142.7
136 9
137 0
149.0
145 0
140.9

144. 8
140 4
139 5
151.0
145 2
144.1

145. 5
141 4
141 2
153.6
147 4
144.3

146.4
140 2
139 7
153.4
146 0
142.7

148.1
143 0
143 3
146.1
146 4
144^3

150.0

r 150. 5

I CO -I

•MO o

138.4
148 n
145.5

129 2
126.9
132.3

141 4
142.1
140.6

145 2
145.4
144.9

147 7
148.1
147.2

150 1
150.7
149.2

150 7
151.3
150.0

152 5
152.7
152.3

153 9
153.8
154.1

155 4
155.2
155.8

156 9
157.0
156.8

159 0
159.4
158.4

ifin R
161.7
159.2

162.4
160.1

do — do---_do

127.0
146.1
109.5

130.7
150.1
112.4

105.3
96.2
110.8

129.2
143.9
114.5

140.3
167.4
115.0

141.4
169.1
115.5

139.7
167.7
114.1

144.4
176.4
115. 3

144.6
173.2
118.6

147.3
175.5
121.7

149.5
178.0
123.3

149. 8
177.4
124.1

151.5
177.5
127.3

do
do
do
do
do----

130.2
117.5
108.9
133.1
125.0

136.4
126.0
112.6
143.4
133.4

137.6
126.9
110.8
147.4
135.9

140.2
127.7
109.2
149.3
137. 4

142.0
130.2
105.5
151.5
139.1

142.7
132. 4
111.9
150.6
139.6

145.3
131.8
115.6
154.3
140.8

146. 9
129.2
120.5
154.3
142.4

145.5
129.9
114.2
155.6
143. 2

147,0
130.3
117.1
156.5
143.6

149.8
131.6
112 8
156.8
143.6

152.1
132.6
115 4
155.8
143.5

152.6
133.5
117 2
156. 3
146.6

do— _do
do
do
do

125. 3
116.9
125. 6
99.8
125.1

132.6
122.9
134.1
102.6
133. 4

134.6
127.8
137.2
104.8
137.0

135.6
128.7
139.1
105.4
133.8

137.6
130.3
140.6
105.6
140.2

137.9
131.7
142.2
108.7
139.1

138.4
132.0
143.7
106.6
137.5

139.1
131.5
144.0
106.1
139.0

138.5
132.2
144.3
105.0
140.0

138.8
131.6
145.3
110.9
140.9

139.0
132 2
145.4
105 1
139.4

140.4
133.8
143.8
107 7
142.1

Materials
Durable goods materials
Nondurable materials

do...do
do-— -

____^

8eas. adj., total index (incl. utilities)d"
By industry groupings:
Manufacturing, total

Machinery
Nonelectrical machinery
Electrical machinery.

do
do
do

Transportation equipment
Motor vehicles and parts
Aircraft and other equipment
Instruments and related products
Clay, glass, and stone products
Lumber and products
Furniture and
fixtures
Miscellaneous manufactures
Nondurable manufactures
Textile mill products.
Apparel products
Leather and products
Paper and products

.

' Revised. » Preliminary. 1 The total and components are annual totals. 2 Italicized
total excludes stepped-up rate of.NSLI dividend payments to veterans; total disbursements
of $200 million put on annual rate basis amounted to $2.4 billion. Figures for transfer payments and total nonagricultural income reflecting similar exclusions are as follows (bil. $):
37.7 and 496.7. 3 Italicized total excludes and other footnoted figures include retroactive
lump-sum payment of social security benefits; disbursements of $885 million put on annual
rate basis amounted to $10.6 billion. fSee corresponding note on p. S-l. ^Revised series.
Dollar figures and indexes of cash receipts revised beginning 1949 (indexes shifted to 1957-59




135 2
147 0
131.4
144.9

143.2

' 145. 9 ' 149. 4

146.9

r

J43 g

r

r 1 51 7

r
r

143 g
144 7

r

jjg 2

149 1
153 8
143 1
116 6

r 141 1
jgg g

r

r
r

129 (j
141 8
145.9

1417 C

r I4g' 2
r 14g fj
r 114 Q

r 154 4

r 14^ 7
r 14Q Q
r 14g 4

r 1 ^0 7
r 14Q 1
r £74 g

r

142 4
149. 8

r 14g 3
r -117 o

155.0

r 148 3

14fi 8

r 14fi 1

r 145. 7

' 146. 4 ' 147. 4
' 145. 7 149.2

144.2

' 144. 5

-•143.4

145 7

146 0

14.S 7

r

149 0

145.5

J4g Q

147 2

'148.2

' 149. 7

151.0

i oc n

-I -1 C 0

r

r

r

£45 ^

144.7

' 140. 4
134 8
141. 9
107 0

r 141. 1

r

149 5

r 147 fl

145.0

r
r

146
149

' 144. 4

r 147 ^

1 R1 4

173

' 153. 9

r 14^ 1
r

144. 5

147 1

143 4

150 9
r

-i e-i

n

r 148. 3

r 1 R9 9. r 1 fit\ 4
' 162. 4 ' 165. 7

1 ^4

152
1 RS

' 162. 1 ' 165. 1

168
167

149.4 ' 153. 5
175.1 ' 176. 7
125.6 '131.8

155
178
134

155. 7
133.8
116 2
156.8
147.1

158
135

r

157.7
' 134. 5
117 5
159. 9
' 149. 6

' 141. 3 ' 141. 4
137.2
<-135 7
143.7
108 2
' 143. 9
141.9

161
151

142.4

base). Physical volume indexes revised to reflect change to the 1957-59 reference base and
incorporation of latest Census revisions. Data prior to May 1964 appear in the Dept. of
Agriculture publication, Farm Income Situation, July 1965, 9 Includes data for items not
shown separately, cf Industrial production indexes revised beginning Jan. 1961; seasonally
adjusted data for 1961-63 for selected groups appear on pp. 31-32 of the June 1965 SUEVEY.
Revisions (unadj. and seas, adj.) for Jan.-June 1964 will be shown later. Unadjusted data
prior to July 1963, as well as seas. adj. data for groups not shown in the tables, will be published later.

SURVEY OF CURRENT BUSINESS

S-4
Unless otherwise stated, statistics through 1962
and descriptive notes are shown in the 1963
edition of BUSINESS STATISTICS

1964

1963 | 1964
Monthly
average

December 1965

Oct.

Nov.

1965
Dec.

Jan.

Feb.

Mar.

Apr.

May

June

July

Aug.

Sept.

Oct.

Nov. p

GENERAL BUSINESS INDICATORS—Continued
INDUSTRIAL PRODUCTION— Continued
Federal Reserve Index of Quantity Output— Con.
Seasonally adjusted indexes©— Continued
By industry groupings— Continued
Nondurable manufactures— Continued
Printing and publishing __ 1957-59=100.
Newspapers
do__
Chemicals and products
__do__
Industrial chemicals
do
Petroleum products
do

I

116.4
108.0
148. 6
162.7
117.1

123.3
117.0
159.6
178.4
121.0

123.0
114.3
163.0
181. 0
122.7

124.2
117.0
163. 2
182.9
121.7

126.2
122.6
166.4
187.9
120.9

126.8
121.4
166.7
186.0
119.0

127.7
120.9
167.8
188.2
121.5

128.5
121. 0
169. 5
190.8
122.2

128.3
120.7
169.2
191. 6
121. 5

129. 3
121. 5
169.3
191. 7
122. 9

130.0
124.7
169.9
192.9
121.8

131. 3
126.2
172.8
194.9
124.5

133. 0
129.7
r 174. 2
'•195.7
125.8

140.0
116.9
116.8
117.8
115.2

156.3
120.8
120.1
124.4
120.8

163. 2
120.3
120.2
120.6
123.3

163.7
123.5
122.6
128.5
121.0

165.7
123.8
122.9
128.6
125.4

164.7
124.3
123.0
131.4
122.2

171.1
123.4
122.6
127.4
123.5

172.6
123.4
122.4
128.6
127.2

167.7
122.5
122.6
121.8
120.9

168.2
121.9
120. 6
129. 0
116. 5

169.1
122.3
121.2
128. 5
121.8

170.2
123.1
122.6
125. 9
119.9

' 168. 1
171.2
' 122. 4 r 123. 2
121.9 '121.8
' 125. 0 130.8
120.7
120.6

107.9
102.5
107.9
108.1
112.3
112.1

111.3
107.1
110.4
109.9
117.4
118.7

112.0
108.9
111.1
110.8
115.4
119.7

112.8
109.6
110. 4
110.2
126.6
123. 9

112.5
110. 1
110.4
110.9
121.8
123.4

111.8
107.7
109.8
109.8
126.7
120.8

111. 8
103.2
110.6
108.6
123.4
122.9

112. 5
103. 1
,111.4
110.5
124.6
124.1

113. 0
107.9
112. 0
111.4
125.8
118.2

114.0
113.0
111. 9
111. 3
121.6
123.9

115.3
117.1
112.5
112. 2
123.7
125.8

116. 0 ' 117. 0
115.2
117.1
113.0 ' 114. 2
112.1
113.4
126.4 '130.2
129.1
127.3

'112.4
106. 7
' 110. 4
' 108. 5
' 122. 4
127.4

_...do
do.__.
do

140.0
142.6
131 9

151.3
153. 9
143 4

154.9
157.0
148 4

155.4
157:4
149 0

157.1
159.4
149 6

154.9
158.5
143 6

156. 1
159.6
145 4

158.5
162.4
146 0

159. 9
164.0
147 2

160. 4
164.3
147 8

162. 5
167. 1
147 9

161. 6
165.8

' 165. 6 ' 166. 0
170. 9

_do
__do
do

124, 9
125.2
134. 4

131.8
131.7
142.8

130.5
129.5
128. 3

135.2
134.5
145. 7

138.1
138.0
156.9

138.4
138.4
157.4

138.5
138.0
157.3

140.1
140.0
161.9

139.4
138.5
158. 2

140.2
138.6
158. 5

140.7
138.7
158.2

142.3 ' 143. 3 ' 145. 2
141.7
139.3 ' 139. 5 ' 140. 6 ' 141. 1
'
158. 1 ' 158. 5 ' 161. 1
158.1

Automotive products
do
Autos
-do
Auto Darts and allied products do

141.2
149. 5
130.2

145.1
150.6
138.0

105.9
83.0
136.1

143.0
145.1
140.2

166. 2
183.0
144.0

165.7
182.8
143.1

163.8
178.9
143.9

173.1
194.2
145.2

166.9
183.5
145.1

168.1
184.9
146. 0

168. 1
187.1
143.0

167.8
184.6
145.8

Home goods 9

do

129,6
125. 1
131. 3

141.1
137.1
142. 4

144.0
143.1
145.5

147.7
145.6
148.3

150.5
149.4
149.7

151.7
147.2
150.6

152.7
148.7
152.6

154.0
150.8
152.7

152.1
149.0
152.0

151.8
147.6
154. 4

151.3
148.8
153. 5

151.2
146 5
154.0

' 149. 8 ' 153. 0 155.8
145.2 ' 149 1 151 3
152. 3
152.0
155.2

Apparel and staples
do
Aooarel incl knit goods and shoes do
Consumer staples
do
Processed foods
do

122. 3
117,6
123. 7
116, 6

128.1
124.2
129.3
119.9

129.9
127.1
130.7
120.0

131. 0.
128.0
131.8
122.0

132. 0
129.4
132.7
122.5

132. 4
131.6
132.6
122.3

131.9
131.8
131. 9
121.3

133.0
132.5
133.2
122. 1

132.3
131.8
132.4
122.1

132.2
132. 5
132.2
121.1

132. 8
133.2
132.7
120.7

133.7
132 2
134.1
122.4

'133.6
134.8
T
131. 9
132 6
134.1 ' 135. 5
121. 6
121.6

do
do
do
do

116. 9
140. 1
117, 8
133. 5

123.2
146. 9
123.7
142.3

121.5
151.9
121.8
147.2

126.0
149.7
122.8
147. 0

127.5
151.8
124.3
146.9

128.3
154.2
125.8
143.9

126.1
152.8
125.3
145.4

128.1
154.2
128.6
146.5

121.5
152.6
126.9
148.8

124.8
151.9
126.6
148.2

126.2
152.9
125.6
150.6

123.9
157. 0
128 0
151.2

' 123. 6
160. 1
128. 0
150. 6

do
do
do
do

132.0
139.1
137.0
145.3
141.0
133.1

132.5
140.6
140.4
149.3
128.6
142.2

136. 7
146.1
144.5
151.0
149.1
135.1

138.4
148.5
145.9
152.4
155.2
142.1

138.2
147.7
144.8
152.5
154.0
142.5

139.4
149.2
147.1
156.2
150.7
141.3

140.4
150.1
148.3
159.1
148.2
140.4

141.2
150. 9
148.4
161.3
150.8
138.3

143.7
153.5
150. 6
162.3
157.1
141.7

144.9
154.6
151.9
164. 1
157.8
143.7

147. 0 ' 148. 4 ' 149. 1 ' 154. 1
156.4 ' 157. 8 ' 159. 0 ' 163. 8
153. 8
155.3
159.4
155.1
165. 2
166.4
165.2
169. 8
163 6
164 2
155 0
176 5
145. 3 ' 157. 1 155. 4

Rubber and plastics products
Foods 9nd beverages
Food manufactures
Beverages
Minin°r
- Coaf
Crude oil and natural gas
Crude oil
M^etil mining
Stone and earth minerals
Utilities
Electric—...—
Gas

-

do
do
do
do
do
-do
-do _
-- do__
do
do

-

By market groupings: ©
Final products, total
Consumer goods
Automotive and home goods

do

Furniture and rugs

Beverages and tobacco
T)rugs soap and toiletries
Newspapers magazines books
Consumer fuel and lighting

Farm equipment

do

124. 2
128, 3
123,. 0
142, 4
132,, 2
121,, 6

Materials
Durable goods materials 9
Consumer durable _ _ - _
Equipment
Construction

do
_ do
do___
do
do

123,, 7
121.2
137.. 2
125. 4
116,. 3

132.8
131. 2
145.8
134. 4
124. 5

132.6
128.6
112.8
137.7
124.1

135.9
134.9
147.4
139.2
126.8

138. 0
136.8
156.1
141.5
127.5

138. 8
138. 0
159.6
142.6
128.3

139.7
139. 0
164.9
143.8
130.8

141.7
142.6
166.3
146.9
133.5

142. 6
142.9
163.4
147.5
130.5

142.6
143.4
162.3
148. 7
131. 4

144.5
146.1
169. 9
150.0
131.3

146.4
148.4
171.8
153 3
132.7

—do
. do.
do
do

126.3
120,, 3
120,, 2
120,, 4

134.3
127.4
127.9
127.1

136.7
129.3
131.8
128.0

137.0
129. 0
132.3
127.3

139.2
132.7
135.3
131.4

139.5
133.2
136.3
131.6

140.5
135.6
138.0
134.4

140.6
134.2
129.7
136.5

142.4
135.1
137.3
134.0

141.8
134.1
132.0
135. 2

143. 4
134. 8
132.0
136.2

145. 0
137 6
136 1
138 3

do
do
do

117., 2
109, 3
138. 7

122.6
, 112. 2
149.6

124.0
113.3
151.0

124.0
113.0
151. 2

125.1
113.3
154.6

124.1
112.1
153.8

123.9
111.1
155.6

125.7
112.3
158.5

127.2
114.3
159.6

127. 9
115. 1
160. 1

129.9 " 128 9
116.9
117 0
162.4
158 8

168,002 172,647

Equipment, including defense 9
Business equipment
- -Industrial equipment
Commercial equipment

__

Nondurable materials 9
Business supplies
Containers
General business supplies
Business fuel and power 9 Mineral fuels..
Nonresidentlal utilities

BUSINESS SALES AND INVENTORIES §
Mfg. and trade sales (seas, adj.), totalj f
mil. $

161.9
166.2

169.8
184.3
150. 7

' 146. 1
' 147. 3
167.9
154.7
134.6
r
r

144.8
135. 1
132. 1
136 6

129. 3 '131.4
120.1
125.1
' 176. 6 177.0
199.9
' 125. 1
125.9
123.0
121.8

'
'
'
'

' 166. 5
178. 1
'151.2

127.4
161.3
126 1
155.0

'
'
'
'
'

115. 0
116. 8
112. 1
112. 0
124.4
126.0

168.7
181.1
152.4

135.4
121.8

143. 5 ' 143. 9
142. 6 142.0
165. 4
167.0
154. 2
157.6
134. 5 135.4

' 144. 4
' 135. 9
' 134. 4
'136 7

145.9
136.7
136.6
136 8

72, 131

73,371

76,277

75, 913

75, 956

77, 815

77, 529

77, 884

78 010

80 023

78 891 '78 883

79, 343

34, 774
18,071
16,704

37, 129
19, 231
17, 898

36, 811
18, 633
18, 178

37, 514
19, 291
18, 223

39, 318
20, 559
18, 759

38, 885
20, 415
18, 470

38, 693
20, 374
18, 319

40, 285
21, 284
19, 001

40, 044
20, 915
19,129

39, 814
20, 513
19 301

39 943
20, 652
19 291

41 452
21,820
19 632

40 518 '40 173
21 191 '20,924
19 327 '19 249

40 402
21, 121
19 281

Retail trade, total J
Durable goods stores
Nondurable goods stores
Merchant wholesalers, totalf cf — _
Durable goods establishments
Nondurable goods establishmentscf

do
do
do
do
do
do

20, 536
6, 675
13, 861
12, 692
5,244
7,448

21, 802
7,093
14, 709
13, 715
5,749
7, 967

21, 383
6,496
14, 887
13, 937
5,801
8,136

21, 661
6,695
14,966
14,196
5,977
8,219

22, 781
7,645
15, 136
14, 178
5, 982
8,197

22, 900
7,855
15, 045
14, 128
6,069
8,060

23, 317
7,966
15, 351
13, 946
6,098
7,848

22, 805
7,669
15, 136
14, 725
6,240
8,485

22, 865
7,550
15,315
14,620
6,213
8,407

23 352
7 703
15 649
14, 718
6 352
8, 366

23 331
7 760
15 571
14, 736
6 243
8 493

23 743
7 922
15 821
14,828
6 369
8 458

23 544 23 774 2 23 959
7 789 2 7 838
7*837
15 707 15 985 2 16 121
14 829 ' 14, 936 14, 982
6 415 '6 405 6 414
8 414 '8 531 8 567

Mfg. and trade inventories, book value, end of year
or month (seas, adj.), totalf
.mil. $__ 105, 127 110, 535 108, 539 109,320 110, 535 111, 465 111, 884 113,032 113,761 114, 542 115,049 116,012

116,683 '116,967 117, 549

Retail trade, totalf
Durable goods stores
Nondurable goods stores
Merchant wholesalers, totalf cf Durable goods establishments
Nondurable goods establishments^

do
do
do

60, 147
36, 028
24, 119

62, 944
38, 412
24, 532

61, 777
37, 517
24, 260

62,377
38, 040
24, 337

62,944
38, 412
24, 532

63, 213
38, 495
24, 718

63, 382
38, 692
24, 690

63, 708
38, 972
24,736

63, 999
39, 233
24, 766

64 269
39 475
24, 794

64 625
39*951
24 674

65 394
40 600
24 794

65 788 '66 267
40 814 '41 300
24 974 '24 967

do
do
do
do
do. _
do

29,383
12, 509
16, 874
15, 597
8,447
7, 150

31,130
13, 282
17, 848
16, 461
9,077
7,384

30, 486
12, 894
17, 592
16, 276
8,949
7,328

30, 559
12, 874
17, 685
16,384
9,002
7,381

31, 130
13, 282
17, 848
16, 461
9,077
7,384

31,478
13, 635
17, 843
16, 774
9,275
7,499

31, 635
13, 799
17, 836
16.867
9,323
7,544

32, 260
14, 220
18, 040
17, 064
9,428
7,635

32, 546
14, 440
18, 106
17, 216
9,454
7.763

32 823
14 707
18 116
17 450
9,589
7.861

33 014
14 692
18 322
17 410
9' 592
7^819

33 088
14 744
18 344
17 530
9*779

33
14
18
17
9
7

'Revised.
* Preliminary.
1 Total
and components are based on unadjusted data.
2
©See note marked "cf " on p. S-3.
Advance estimate.
9 Includes data for items not shown separately.
§ Tne term "business" here includes only manufacturing and trade. Business inventories as shown on p. S-l cover data for all types of producers, both farm and nonfarm.
Unadjusted data for manufacturing are shown on p. S-5; those for retail trade on p. S-ll.
JSee note marked "t" on p. S-4 of the Nov. 1963 SURVEY. fRevised series. For a
detailed description of the changes affecting these series and data for earlier periods, see




7. 751

116
112
113

166. 5

146. 6
142.1

163
170
183

136

156.2

166

144.6

143

146

' 129. 2 ' 126 0 ' 128 6 129
'117.2 '111.9 ' 116. 0
116
160.1
161 0

do
do
do

_

115.4

159.1
126 6

Manufacturing, totalfDurable goods industries.Nondurable goods industries

Manufacturing, totalf
Durable goods industries Nondurable goods industries __

134

360 33 045
965 14 761
395 18 284
535 '17 655
820 '9 911
71 R ' 7. 743

66 534
41 398
25, 136
33 294
14 927
18 367
17 721
9 942
7.779

pp. 16-19 of the Dec. 1963 SURVEY; see p. 28 of the Sept. 1964 SURVEY and p. 3 of the Aug. 1965
SURVEY for current revisions (Jan. 1963-May 1964) affecting the retail inventory and total
manufacturing and trade inventory series.
cfTotal manufacturing and trade sales and
inventories and merchant wholesalers sales and inventories have been expanded to cover all
merchant wholesalers, including wholesalers of farm product raw materials; also, seasonally
adjusted data beginning Jan. 1960 for merchant wholesalers' sales and inventories revised
to reflect new seasonal and trading day factors. Revisions for earlier periods appear on p. 24
of the May 1964 SURVEY.

SURVEY OF CURRENT BUSINESS

December 1965

Unless otherwise stated, statistics through 1962
and descriptive notes are shown in the 1963
edition of BUSINESS STATISTICS

1963

|

1965

1964

1964

Monthly
average

S-5

Oct.

Nov.

Dec.

Jan.

Feb.

Mar.

Apr.

May

June

July

Aug.

Oct.

Sept.

Nov.

GENERAL BUSINESS INDICATORS—Continued
BUSINESS SALES AND INVENTORIES— Con.
Inventory-sales ratios:
Manufacturing and trade, totaltl - ratio. -

1.50

1.48

1.50

do --do
do
- do -do

1.69
1.94
.59
.80
.55

1.64
1.91

.57
.79
.54

.61
.84
.57

_ do ..
do
do
do ._

1.41

1.35

.53
.19
.62

1.33

.59
.20
.63

Retail trade, totalj§
do ..
Durable goods stores
.
__do
Nondurable goods stores
do
Merchant wholesalers, total§cf
- do.. Durable goods establishments
do.. .
Nondurable goods establishments c?
do_. MANUFACTURERS' SALES, INVENTORIES,
AND ORDERS
Manufacturers' export sales:*
Durable goods industries (unadj.), total--.mil. $_.

1.39
1.79
1.20
1.18
1. 58

1.40
1.86
1.18
1.17
1.51

Manufacturing, total§
Durable goods industries
Purchased materials
Goods in process
Finished goods
Nondurable goods industries Purchased materials
Goods in process
Finished goods
-- - ----

1.68
2.01

.53
.19
.62

1.43
1.98
1.18
1.17
1.54

1.49
1.66
1.97

.60
.82
.56

1.34

.53
.19
.61

1.41
1.92
1.18
1.15
1.51

1.45
1.60
1.87

.57
.77
.52
1.31

1.47
1.63
1.89

.57
.77
.52

1.34

.51
.19
.61

.52
.19
.63

1.37
1.74
1.18
1.16
1.52

1.37
1.74
1.19
1.19
1.53

1.47
1.64
1.90

1.45

1.47

1.47

1.47

1.45

1.48

1.58
1.83

1.60
1.88

1.61
1.92

1.62
1.93

1.58
1.86

1.62
1.93

.58
.79
.53

.57
.75
.51

.59
.77
.51

1.35

1.30

1.29

.52
.19
.63

.50
.19
.61

1.36
1.73
1. 16
1.21
1.53

1.41
1.85
1.19
1.16
1.51

.90

.50
.18
.60

1.42
1.91
1.18
1.18
1.52

.92

.61
.79
.52
1.28

.50
.18
.60

1.41
1.91
1.16
1.19
1.51

.61
.80
.53

1.28

.50
.19
.59

1.42
1.89
1.18
1.18
1.54

.58
.78
.50

.60
.82
.51

1.26

1.29

.49
.18
.59

.50
.19
.60

1.39
1.86
1.16
1.18
1.54

1.42
1.91
1.17
1.18
1.53

r

1.48

1.48

1.65
1.97

1.65
1.96

1 30

1.30

.61
.83
.53

61
.83
.53

.92

51
19
.60

51
20
.60

1 39
1.90
1 14
r
1.18
'1.55

1 39
1.90
1 14
1.18
1.55

.92

.90

678

750

762

782

839

615

733

941

853

800

831

747

'870

857

34, 774

37,129

38, 397

37,700

37, 631

36, 384

39, 380

41,231

41, 282

40, 074

41, 914

37, 844

39, 443 '41 198

42 031

18, 071
947
2,944
1,586
1,877

19,231
960
3,236
1,770
1,962

19,243
1,066
3,337
1,828
2,047

19,363
964
3,354
1,853
1,904

19, 969
837
3,347
1, 854
1,931

18, 924
806
3,345
1,945
1,757

20, 685
860
3,582
2,060
1,947

21,928
924
3,859
2,245
2,012

21, 968
967
4,074
2,438
2,085

21,157
1,010
3,613
1,923
2,025

22, 280
1,095
3, 639
1,954
2,147

19, 564
1,022
3,273
1,847
1,905

19, 813 '20, 778 21, 721 121,800
1,046 r 'l 046
1 052
3,590 '3 266 3 214 1 3 200
2,076 T 1, 675
1 597
2,089
2, 122
2,083

Machinery, except electrical
_do__ . 2,517 . 2, 808 2,781 2,726 2,883
2,670
Electrical machinery
do
2,517
2,635
2,398
2,610
Transportation equipment
_ __ _ do . . 4,848 4,969 4,331 5, 006 5, 646
Motor vehicles and parts.
do. _ 3,154 3,204 2, 618 3,266 3,744
680
627
654
583
691
Instruments and related products
..do
16, 704 17,898 19, 154 18,337 17, 662
Nondurable goods industries, total 9 _do_6,324
5,832
6,795
6,433
Food and kindred products
do
6,346
391
392
Tobacco products
do
383
407
419
1,484
1,640
Textile mill products
__do
1,494
1, 596
1,378
1,426
1, 517
Paper and allied products
do
1,355
1,470
1, 433
2,798
Chemicals and allied products
do _
2,931
2,761
2,606
2,568
1,542
1,516
Petroleum and coalproducts____
do
1, 451
1,547
1,560
898
772
851
852
Rubber and plastics products
.....do
862
36, 811 37,514 39, 318
Shipments (seas, adj.), totalf do
By industry group:
Durable goods industries, total 9
do
18,633 19,291 20 559
Stone, clay, and glass products
do
960
984
1.022
Primary metals
do
3 329
3 434
3 656
Blast furnaces, steel mills
do
1,843
1 933
2 074
1,924
Fabricated metal products
do
1 937
2 077
Machinery, except electrical
do
2,851
2 878
2 977
Electrical machinery
do
2 536
2 508
2 597
4 212
Transportation equipment
do
4 747
5 341
Motor vehicles and parts
do
2 446
2 975
3 502
Instruments and related products ___do
641
659
638
Nondurable goods industries, total 9
do
18 178 18 223 18 759
Food and kindred products
do
6 500
6 629
6 414
Tobacco products
__do.
392
429
390
Textile mill products __
_
do
1 505
1 550
1 614
Paper and allied products
do
1 461
1 484
1 532
2 917
Chemical sand allied products
do
2 845
2 858
Petroleum and coal products ..
do
1 533
I 552
1 525
Rubber and plastics products.
_do
834
875
922
By market category:
2
Home goods and apparel.
_
...do
3, 479
23,313
3,472
3,521
3,713
2
Consumer staples
_
do
7 258 2 7 866
8 067
7 972
8 298
2
Equipment and defense prod., excl. auto.do
2 4, 599
4,
242
4,634
4,657
4,791
2
Automotive equipment
_
do
3, 571 2 3, 612
2,837
3 387
3 936
2
Construction materials and supplies-_____do____ 2, 796 2 2, 990 2,992 3,017
3, 154
Other materials and supplies....
do
13, 594 14, 583 14. 809 14,960 15, 426
Supplementary market categories:
2
Consumer durables
__
do
1 380 2 1 492
1 477
1 497
1 691
Defense products
...do. _ 22 2, 096 2 2, 163 2 171 2 129 2 185
Machinery and equipment
do
3, 215 2 3, 528
3,621
3,630
3,732
Inventories, end of year or month :f
Book value (unadjusted), total
....do
59, 738 62, 642 61,433 62,058 62, 642
Durable goods industries, total
do
35, 565 38, 001 37, 251 37,647 38, 001
Nondurable goods industries, total
do
24,173 24,641 24, 182 24,411 24, 641
Book value (seasonally adjusted), total.. ...do
60, 147 62, 944 61. 777 62,377 62, 944
By industry group:
Durable goods industries, total 9
do
36, 028 38,412 37, 517 38,040 38,412
Stone , clay , and glass prod ucts
do
1,587
1,544
1,593
1,595
I , 587
Primary metals.. ...
do
6,111
5 918
6 096
6 153
6 111
Blast furnaces, steel mills
do
3,533
3,707
3,714
3,776
3,707
Fabricated metal products
__do
4,251
3,999
4, 062
4, 149
4,251
Machinery, except electrical
do
6,910
7,558
7, 514
7,381
7, 558
Electrical machinery.
do
5,055
5,388
5,221
5,307
5, 388
Transportation equipment
do
7,331
7,908
7,711
7,810
7,908
Motor vehicles and parts
-_._do
2,610
3,013
3,013
2,975
3,059
Instruments and related products__do
1,468
1,619
1,572
1,584
1,619
2
'Revised.
i Advance estimate.
Based on data not seasonally adjusted.
s Total
and components are end-of-year data. J See note marked "f" on p. S-4of Nov 1963 SURVEY
§ See note marked "f" on p. S-4. tf See corresponding note on p. S-4.
*New series. Represents estimated total value of durable goods products directly exported by durable goods manufacturers; data prior to Oct. 1962 are not available t Revised
series. Effective with the Dec. 1963 SURVEY, data reflect the following major changes- Introduction of the Annual Survey of Manufactures as the new benchmark, revision of sample de-

2,695
2, 407
5,300
3,654

3, 021
2,676
5, 755
3,832

3,207
2,748
6,176
4,223

3,228
2,718
5,866
3,970

3,164
2,646
5,755
3,898

3,299
2,844
6,106
4,144

2,857
2,539
5,069
3,366

Shipments (not seas, adj.), totalf

--

-do

Durable goods industries, total 9
-do
Stone, clay, and glass products __
do_
Primary metals _ _
do
Blast furnaces, steel mills
— _ _.__ do
Fabricated metal products
do




.90

.90

.90

.93

589
17, 460
6,184

369

.96

650

704

18,695
6,378

19,303
6,578

399

394

1,444
1,441
2,723
1,542

1,601
1 559
2,919
1,545

1,636
1,640
3,073
1,530

940

983

38, 885

38 693

40,285

20 415
1,030
3 455
1 976
1,959
2 969
2 657
5 361
3 550

20 374
1,013
3 456
1 979
2 033
2 898
2 616
5 444
3 628

18 470
6 446

18 319
6 °67

1 606
1 516
2 854
1 519

1 560
1 530
2 902
1 519

871

661

407

647

422

696

19, 314
6,594

427

.94

.92

679

732

18 917
6,575

19, 634
6,825

374

1,553
1 566
3 180
1,584

439

.92

650

18, 280
6,545

415

805

2,814
2,746
4,355
2,570

'3 063
'3 002
'5 035
'3 071
675
'742
19, 630 '20 420
6,780 ' 7, 215

407

39 814

1,368
1, 679
1 653
1 503
2,823
3 189
1,647
1,624
1,028
883
39 943 41 452

21,284
1,019
3 629
2 086
2 087
2 996
2 690
5 859
3 974

?0 915

20 513

20 652

21 820

3 389
1 820
1 974
3 009
2 701
5 668
3 814

3 782
2 170
2*036
3 119
2 894
5 870
4 004

728

703

19 001
6 566

19 129
6 667

3 435
1 835
1 955
2 993
2 748
5 519
3 680
'688
19 301
6 661

19 291
6 671

19 632
6 777

19 327
6*843

699

413

1 618
1 598
3 006
1 571

935
3 796
2 245
2 048
2 984
2 757
5 408
3 620

701

440

1 564
1 591
3 009
1 583

931

930

3,653
8 077
4,846
3 973
3, 183
15, 153

3,612
7 925
4.806
4,030
3,117
15, 203

3,730
8 213
4,945
4 392
3,183
15,822

3,681
8 395
4,907
4 0^0
3', 063
15, 978

1 574
2 197
3 755

1 567
2 222
3,709

1 625
2 281
3 872

63, 299
38, 403
24, 896
63, 213

63, 761
38, 875
24, 886
63, 382

38, 495
1,595
6 161
3^744
4,306
7,576
5,403
7,849
2,977
1,622

38, 692
1,595
6 153
3,717
4,325
7,638
5,473
7,869
3, 016
1,635

954

923

364

1 610
1 572
3 030
1 631

988

962

691

411

969

400

1 600 1 603
1 575
1 656
3 057
3 063
1 648
1*637

425

3 043
3 058
6 077
4 208
20 310
7, 119

397

21 191 '20 924
r 953
926
3 708 r 3 237
r
1
Q52
2 105
1 968 r i 995
2 990
2 800
5* 803
3*932

387

1 619
1 616
2 957
1 615

r 3 081

r 2 796
r 5 §63
r 3 905

r 694
r

21 121 1 21 600

949

3 203 i 3 300
1 610
1 959
3 121
2 902
5 992 i g 000
4 066

705

!9 249
6 821
T 415

19 281
6 813

r J 581
r 1 631

1 537
1 656
2 970
1 637

r 2 942
r 1 614
r 951

397

958

980

3,769
8 280
4,948
4 088
3,001
15, 728

3,705
8 374
4/942
4 232
3,062
15, 628

3,788
8 582
5,093
4 408
3,169
16,412

3,700 r 3, 715
8 554 r Q KAQ
5, 001 r 5, 125
4 347 r 4 323
3*, 058
3,080
15, 858 r 15, 381

3,722
8 KCC
5, 167
4 484
3,048
15, 416

1 594
2 259
3 871

1 567
2 281
3 849

1 553
2 298
3 838

1 644
2 324
4 070

1 564 T i 567
2 341 r 2 422
3 878 r 3 980

1 603
2 404
4 030

64,065
39.265
24,800
63,708

64, 366
39, 633
24, 733
63, 999

64, 769
40, 033
24, 736
64, 269

64, 979
40,321
24,658
64, 625

65, 088
40,410
24, 678
65, 394

65, 481 '65,869
40, 704 '41, 096
24, 777 '24,773
65, 788 r 66, 267

66, 116
41, 089
25, 027
66, 534

38,972
1,593
6 071
3,618
4,420
7, 668
5,574
7,945
3,052
1.646

39, 233
1,606
5 900
3,427
4,517
7,726
5,628
8, 095
3,150
1.653

39, 475
1,620
5 996
3,531
4,544
7, 763
5,662
8 104
3,249
1.676

39, 951
1, 623
6 074
3,597
4,565
7,878
5,726
8,267
3,290
1.687

40, 600
1,600
6 163
3,631
4,611
7, 988
5,810
8,653
3,527
1. 683

40, 814 r41, 300
1,618 r 1, 614
6 142 r g 224
3*576
3, 633
4,685 ' 4 766
8,142 '8 298
5,873 ' 5, 907
8 600 '8 707
3,370 '3 430
1.696 '1.711

41, 398
1,631
6 265
3,661
4,762
8,341
5,944
8 656
3 332
1.711

967

i 6 300

725

1,686 r 1 725 1 676
1 658
1 706
1 718
2,944 r 3 133
3 058
1,637 r 1, 628 1,648
948
'983
1,035
40 518 r 40 173 40 402

1, 574
1 617
3,221
1,553
1,007
40 044

998

.91

.91

968

960

sign, refinement of industry reporting, expansion of industry groups published, and revision of
seasonal factors. In addition, data by market groupings are presented for the first time. Data
for shipments and new orders not seasonally adjusted are adjusted for trading day variation.
Revisions back to 1947 and a detailed description of the current revision appear in the Census
Bureau publications, "Manufacturers' Shipments, Inventories, and Orders: 1947-63 Revised, Series M3-1" and "Series M3-1, Supplement 2."
9 Includes data for items not shown separately.

SURVEY OF CUEEENT BUSINESS

S-6
Unless otherwise stated, statistics through 1962
and descriptive notes are shown in the 1963
edition of BUSINESS STATISTICS

1963

1964

End of
year

December 1965
1965

1964
Oct.

Nov.

Dec.

Jan.

Feb.

Mar.

Apr.

May

June

July

Aug.

Sept.

Oct.

Nov.

GENERAL BUSINESS INDICATORS—Continued
MANUFACTURERS' SALES,INVENTORIES,
AND ORDERS— Continued
Inventories, end of year or monthf— Continued
Book value (seasonally adjusted)— Continued
By industry group— Continued
Durable goods industries— Continued
By stage of fabrication:
Materials and supplies 9
mil $
Primary metals
do
Machinery (elec . and nonelec.) — do
Transportation equipment
do
\Vork in process 9
do
Primary metals
do
Machinery (elec. and nonelec.)-— do
Transportation equipment
do
Finished goods 9
do
Primary metals
do
Machinery (elec. and nonelec.)— do

10. 879
2,259
3, 009
1,956
14, 857
1,901
5,249
4, 467
10, 292
1,758
3,707
908
24, 119
Nondurable goods industries, total 9 _--do
Food and kindred products.
_ _ d o _ _ _ _ 6,028
2, 314
Tobacco products.
do
2,886
Textile mill products
do
1,800
3, 818
Chemicals and allied products
do
1,736
1, 157
Kubber and plastics products
do
By stage of fabrication:
9,769
Materials and supplies
do
3, 479
Work in process
do
10, 871
Finished goods.
do

12, 672
2,316
3,702
2,232
17, 283
2,058
6,351
5,284
10, 859
1,768
3,962
1,084
24, 974
6,000
2,286
3,003
1,916
4,240
1,727
1,258

12, 812 12, 783
' 2, 302 2,298
' 3, 747 3,792
' 2, 317 2, 289
17, 380 17, 489
' 2, 066 2, 107
' 6, 415 6,479
5,245
' 5, 277
11, 108 11, 126
1,860
' 1, 856
' 4, 043 4,014
1,122
' 1, 113
'24,967 25, 136
' 5, 881 5,849
' 2, 286 2,346
' 3, 038 3,150
' 1, 922 1,918
4,288
'4,258
' 1, 696 1,707
' 1, 262 1,272

11, 688
2,248
3,263
2,216
15, 933
2,024
5.763
4,695
10, 791
1,839
3,920
997
24, 532
6,030
2,359
2,837
1,885
4,003
1,745
1,176

11,277
2,182
3,162
2, 155
15, 622
2,050
5,636
4,602
10, 618
1, 864
3,804
954
24, 260
5,956
2,319
2,857
1,865
3,985
1,731
1,176

11,500
2,182
3,238
2,208
15, 799
2,088
5,717
4, 623
10, 741
1,883
3,866
979
24, 337
6,031
2,303
2,790
1,869
4,000
1,752
1,191

11,688
2,248
3,263
2,216
15,933
2,024
5,763
4,695
10,791
1,839
3,920
997
24,532
6,030
2,359
2,837
1, 885
4,003
1,745
1,176

11, 802
2,297
3,306
2,181
15, 934
1,999
5,792
4,673
10, 759
1,865
3,881
995
24, 718
6,194
2,322
2,829
1,869
4,047
1,794
1,191

11, 876
2,295
3,356
2,210
16,008
2,005
5, 835
4,661
10, 808
1,853
3,920
998
24, 690
6,197
2,312
2,811
1,869
4,055
1,812
1,183

12, 068
2,292
3,399
2, 234
16, 041
1,967
5,866
4,696
10, 863
1,812
3,977
1, 015
24, 736
6,196
2,328
2,820
1,855
4,072
1,800
1,213

12, 406
2,332
3,456
2,280
16, 114
1,883
5,936
4,782
10, 713
1,685
3,962
1,033
24, 766
6,182
2,307
2, 828
1,865
4,106
1,792
1,222

12, 512
2, 317
3, 502
2,362
16, 162
1,957
5,966
4,686
10, 801
1,722
3,957
1, 056
24, 794
6,100
2,328
2,826
1,885
4,174
1,775
1. 221

12, 537 12, 664
2,310
2,305
3,609
3,540
2,420
2,372
16, 533 17, 053
2,051
1,985
6,242
6,122
5,155
4,820
10, 881 10, 883
1, 802
1,784
3,947
3,942
1,078
1,075
24, 674 24, 794
6,073
6,040
2,281
2,317
2,952
2,879
1,900
1,882
4,203
4,133
1,746
1,765
1,244
1,234

9,619
3,522
11, 391

9,565
3, 508
11, 187

9,637
3,497
11, 203

9,619
3,522
11, 391

9,585
3,532
11, 601

9,541
3,531
11,618

9,557
3,533
11, 646

9,660
3,533
11, 573

9,675
3,558
11, 561

9,608
3,611
11, 455

9,537
3, 591
11,666

9,645 ' 9, 766 9,771
3,662 ' 3, 702 3,805
11, 667 '11,499 11, 560

6,499
9,660
13,241
3,683
5,629
24,232

6,534
9,776
13, 225
3,654
5,643
24,381

6,534
9,756
13, 283
3,701
5,661
24, 447

6,593
9,827
13, 338
3, 751
5,734
24, 465

6,650
9,809
13, 490
3,854
5,816
24, 380

6,694
9,770
13, 419
3,941
5,835
24, 610

6,650
9,721
13, 635
3,983
5,862
24, 774

6,685
9,737
13, 858
4,215
5,821
25, 078

6,815 ' 6, 863
9,675 r 9, 566
14, 046 '14,286
4,068 ' 4, 124
5,852 ' 5, 908
25,332 '25,520

3,056
5,625
9,431
37,986
20,357
17,629
39,590

3,072
5,605
9,445
37, 785
20, 320
17, 465
39, 704

3,081
5,607
9,543
40, 641
21, 878
18, 763
39,469

3,134
5,688
9,560
41, 820
22, 507
19, 313
40, 712

3,164
5,788
9,617
41, 842
22, 435
19, 407
41, 120

3,210
5,740
9,651
40, 162
21, 166
18, 996
40, 181

3,241
5,814
9,863
42, 357
22; 651
19, 706
40, 689

3,249
5, 968
10, 006
38,713
20,404
18,309
41, 846

3,250
6,030
10, 216
39, 964
20, 348
19, 616
40, 926

' 3, 221
' 6, 044
' 10, 432
'42,259
'21,818
i-20,441
'41,483

3,226
6,123
10, 466
42, 970
22, 618 2 22, 000
20, 352
41, 711

20,720
3,821
2,243
2,089
3,098
2,637
5,172
1,227
18,870
5,190
13,680

21, 271
3,739
2,232
2,068
3,092
2,891
5,546
1,465
18,433
5,018
13, 415

21, 130
3,802
2,291
2,110
3,050
2,597
5,690
1,703
18, 339
5,054
13, 285

21, 714 22, 043
3,593
3,456
2,018
1,876
2,065 2,098
3,100
3,107
2,711 2,929
6,301
6,453
1, 757
2,248
18, 998 19, 077
5,203
5,130
13, 795 13, 947

20, 992
3,286
1,632
2,027
3,108
2,801
5,878
1, 552
19, 189
5,157
14, 032

21,310
3,454
1,816
2,042
3,189
2,874
5,870
1,684
19, 379
5,298
14, 081

22, 195
3,493
1,851
2,058
3,140
3,099
6,363
1,646
19,651
5,444
14, 207

21, 509
3,119
1,465
1,974
3,318
3,000
6,141
1,956
19, 417
5,347
14, 070

'22,163
' 2, 908
' 1, 276
' 2, 013
' 3, 315
f 2, 995
' 6, 853
' 2, 462

22, 392 222,300
3,148 23,400
1,451
2,043
3,335
2,967
6,970 2 6, 000
2,491

3,750
8, 303
4,738
3,984
3, 098
15,717

3,607
8,093
4,939
4,116
3,238
15, 711

3,569
7,927
4,981
4,083
3,155
15,754

3,727
8,207
4,974
4,530
3,145
16, 129

3,672
8,372
6,121
4,133
3,150
15, 672

3,689
8,277
5,323
4,208
3,105
15, 579

3,751
8,389
5,509
4,194
3,132
15, 714

3,725
8,583
5,466
4,524
3,155
16, 393

3,784
8,558
5,543
4,294
3,040
15, 707

' 3, 780
' 8, 550
' 5, 756
' 4, 504
' 3, 118
'15,775

3,767
8,553
5, 683
4,552
3, 098
16, 058

1,664
1, 873
3,917

1,580
2,372
3,958

1,529
2,438
3,799

1,601
2,463
4,024

1,629
3,236
4,078

1,574
2,460
4,069

1,586
2,579
4,091

1,560
2,618
4,348

1,640
2,808
4,159

«• 1, 610
' 3, 450
' 4, 153

1,687
3,305
4,237
63, 697

By market category:
6,499
6,358
6,389
6,405
Homo goods and apparel
do
9,660
9,525
9, 525
9,590
Consumer staples
do
12, 363 13, 241 12, 788 12, 978
Eouip and defense prod excl auto
do
3,683
3,629
3, 245
3,720
Automotive equipment
do
5,629
5,500
5,290
5,533
Construction materials and" supplies
do
24,
232
23,
977
23, 335
24, 151
Other materials and supplies
do
Supplementary market categories:
3,056
3,001
2,955
3,037
Consumer durables
do
5,411
5,625
5,583
5,455
Defence products
do
9,431
9,161
8,539
9,321
Machinery and equipment
do
35,036 i 37,697 39, 043 37, 671
New orders net (not seas adj ) tot alt
do
18, 300 19, 803 19, 863 19, 277
Durable goods industries, total
do
16, 736 17, 895 19, 180 18,394
Nondurable goods industries, total
do
335,036 3 37,697 37, 846 37, 720
New orders net (seas adj ) totalt
do
By industry group:
Durable goods industries, total 9-do __ 18, 300 19,803 19, 623 19, 454
3, ,442
3,767
2 959
3,663
Primary metals
do
1,942
2,203
l'592
2,072
Blast furnaces, steel mills
do
2,018
1,991
1,886
2,011
Fabricated metal products
do
2,911
2,994
2, 574
2,971
M!achinerv except electrical
do
2,601
2,542
2,410
2,763
Electrical machinerv
do
5,098
4,544
4, 970
4,283
Transportation equipment _
_ do _
1,460
1,654
1,398
961
Aircraft and parts
do
16, 735 17, 895 18, 223 18, 266
Nondurable goods industries, total
do
4,776
4,894
4,960
4,411
Industries with unfilled orders®
do
12, 325 13, 118 13, 329 13, 306
Industries without unfilled ordersf
_do
By market category:
3,489
3,478
3,418
3,339
Home goods and apparel
_
___do
7,972
7,866
8,068
7, 257
Consumer staples
do
4,586
4,814
4,824
4,358
Equip, and defense prod., excl. auto
do
3,289
3,637
2,916
3, 578
Automotive equipment
do
3,043
3,027
3,071
2, 803
Construction materials and supplies
do
13, 691 14, 876 15, 549 15, 341
Other materials and supplies
do
Supplementary market categories:
1,498
1,493
1,426
1,404
Consumer durables
__do
1,788
2,260
2,412
2, 156
3,882
3,706
3,786
3, 326
Machinery and equipment
do
Unfilled orders, end of year or month (unadjusted),
49, 149 55, 962 55, 637 55, 605
totalf
mil. $
46, 193 53, 042 52, 742 52, 652
Durable goods industries, total
do
2,953
2,895
2,920
2, 956
Nondur. goods indust. with unfilled orders©.do

6,864
9,636
14, 379
4,015
5,959
25, 681

'19,320 19, 319
' 5, 267 5,262
'14,053 14, 057

55,962

57, 363

58, 629

59, 217

59, 779

59, 869

60, 309

61,178

61, 697 '62,758

53,042
2,920

54, 439
2,924

55, 636
2,993

56, 215
3,002

56, 684
3,095

56, 694
3,175

57, 064
3,245

57, 904
3,274

58, 438 '59,479 60, 376 * 60, 600
3,259 ' 3, 279 3,321

Unfilled orders, end of year or month (seasonally
56, 363 57,044
adjusted), totalt
mil. $._ 49, 796 57, 044 56, 067
By industry group:
53, 406 53,958
53,
137
46, 676 53, 958
Durable goods industries, total 9
do
6,559
6,370
6,104
6,559
3, 930
Primary metals
__do
4,311
4,125
3,956
4,311
2,120
Blast furnaces, steel mills
do
4,811
4,762
4,811 4,663
4,062
Fabricated metal products
do
8,302
8,194
8,062
8,302
7,027
Machinery, except electrical
do
8,103
8,142
7,924
8,103
7,114
Electrical machinery
_
do
346 20, 867 21,090
Transportation equipment
do
19, 368 21, 090 21,
15,526
14, 446 15, 526 15, 760 15, 363
Aircraft and parts
do
3,086
2,957
2, 930
3,086
3, 120
Nondur. goods indust. with unfilled orders©.do
By market category:
1,975
1,954
1,953
1,975
1, 987
Home goods, apparel, consumer staples
do
Equip, and defense prod., incl. auto.
do
26, 197 29, 223 29, 217 28, 971 29,223
5,490
5,433
5,368
5,490
Construction materials and supplies
_ do
4,986
Other materials and supplies
do
16, 626 20, 356 19, 529 20, 005 20,356
Supplementary market categories:
1,420
1,401
1,384
1,420
1, 407
Consumer durables
do
Defense products
do
18, 724 20, 058 20,387 20, 058 20,058
13,367
13,
175
12,
946
Machinery and equipment
__do
11, 186 13, 367
3
r
J
2
D ata for t otal and comRevised.
Monthly average.
Advance estimate
ponents (incl. market categories) are monthly averag es based on new c rders noi seasona lyadjusted.
tSee corresponding note on p. S-5.
91ncludes iata for items no t shown separately.
©Includes textile mill products, leather a nd prod acts, pap er and a Hied pro ducts,

57, 317

58, 160

58, 595

59, 463

59, 897

60, 588

60, 981

61, 391 '.62, 699

64, Oil

54, 280
6,656
4,387
4,851
8,413
8,247
21, 051
15, 394

55, 092
7,073
4,759
4,910
8,467
8,269
21, 363
15, 738

55, 531
7,058
4,720
4,897
8,563
8,302
21, 776
16, 098

56, 374
6,683
4,351
4,911
8,688
8,448
22, 664
16, 849

56, 875
6,569
4,148
5,051
8,782
8,555
22, 951
16, 861

57, 454
6,637
4,144
5,093
8,963
8,773
23, 069
17, 074

57,830
6,348
3,825
5, 115
8,984
8,978
23, 563
17, 252

58, 148
5,760
3,185
5,120
9,313
9,178
23, 901
17, 732

60, 658 261,300
2
5, 500
5, 376
2,650
5,222
9,761
9,442
25, 869 226,000
19, 593

3,037

3,068

3,064

3,089

3,022

3,134

3,151

3,243 ' 3, 314

3,353

1,962
29, 210
5,558
20, 587

1,904
29, 494
5,596
21, 166

1,898
29, 549
5,591
21, 557

1,901
30, 694
5,628
21, 240

1,908
31, 154
5,721
21, 114

1,922
31, 607
5,733
21, 326

1,861
32, 097
5,720
21, 303

1,953 ' 2, 017
32, 587 '33,401
5,701 ' 5, 739
21, 150 '21,542

2,049
33, 986
5, 791
22, 185




'59,385
' 5, 431
' 2, 809
' 5, 137
' 9, 547
' 9, 376
'24,891
'18,631

1,374
1,412
1,354
1,328
1,427
1,406 ' 1, 449 1,510
1,371 1,399
19, 964 20, 260 20, 502 21, 361 21, 457 21, 743 22, 036 22, 503 '25,532 24, 431
13, 534 13, 572 13[ 771 13, 981 14, 166 14, 422 14, 700 14, 982 ' 15, 152 15, 363
and p rinting a 7nd publi shing ind ustries; iinfilled o rders for other no ndurable goods in dustries
are z(iro.
11 or thesei ndustries (food and kin dred prc)ducts, t 3bacco products, apparel
andr slated pr<)ducts, p Ptroleum and coal products , chemic als and al lied prod ucts, anc I rubber
and p lastics pi oducts) sales are considere d equal ;o new 01 ders.

SURVEY OF CURRENT BUSINESS

December 1965
Unless otherwise stated, statistics through 1962
and descriptive notes are shown In the 1963
edition of BUSINESS STATISTICS

1963

1965

1964

1964

Monthly
average

S-7

Oct.

Nov.

Dec.

Jan.

Feb.

Mar.

Apr.

May

June

July

Aug.

Sept.

Oct.

Nov.

GENERAL BUSINESS INDICATORS—Continued
BUSINESS INCORPORATIONS rf
New incorporations (50 States and Dist. Col.):t
Unadjusted
_
number. _ 15, 534
Seasonally adjusted
do, __

16, 477

16, 394
16, 493

14, 098
17,103

17, 459
17, 154

18, 180
17, 275

15, 967
17, 367

19, 789
17,112

17, 712
16, 504

16, 540
16, 043

17, 635
16, 671

16, 794
16,369

16, 114
16,957

15, 962
17, 138

15, 889
16, 744

INDUSTRIAL AND COMMERCIAL
FAILURES c?
Failures total
number. . 1,198

1, 125

1,060

967

968

1,137

1,114

1,332

1,179

1,183

1, 094

1,074

1,131

1,100

1,047

114
200
201
557
126

102
199
188
520
116

96
194
196
467
107

100
180
175
412
100

89
175
165
442
97

105
206
187
525
114

103
199
185
525
102

124
230
218
621
139

99
228
183
535
134

126
204
191
549
113

90
205
172
510
117

82
205
157
514
116

114
208
176
533
100

124
205
172
479
120

110
212
145
490
90

Liabilities (current), total
.
.thous. $__ 112, 716 110, 769 93, 766 119, 324
4,870
7, 425 15, 211 4,666
Commercial service
- ._do
19, 280 21, 866 23, 967 22, 953
Construction
.
. _
do
Manufacturing and mining
.
do_ __46, 475 30, 155 35, 619 59,174
Retail trade
- _
do.___ 24, 947 23, 496 19, 135 20, 629
14,589 20, 041 10, 379 11, 698
Wholesale trade
- do_
Failure annual rate (seasonally adjusted)
50.7
50.3
No. per 10,000 concerns. _ 156.3 153.2

98, 282
9,171
25, 835
27, 233
28, 023
8,020

83, 247 133, 113 144,607 121, 485 135, 039 104, 976
6,039 48, 806 54, 207
4,891 47, 127 23, 039
19, 554 17, 729 35, 601 53, 372 24, 080 19,007
26, 090 32, 978 22, 435 31, 145 30 097 24 880
20, 067 20,944 22, 353 21, 352 19, 704 27, 463
11, 497 12 656 10 Oil 10 725 14 031 10 587

82 066
10 381
19 139
17 862
27 876
6 808

Commercial service
Construction
Manufacturing and mining
Retail trade
Wholesale trade

do_ __
.__ _do
do
.-....do....
. ..... do.___

48.2

89, 272 111,985 146, 579
4,905 9,111 24, 487
24, 381 19,881 21, 075
26, 189 43, 269 47, 868
19, 744 28, 663 29, 913
14, 053 11, 061 23, 236

52.8

51.7

54.8

50.8

54.1

50.1

52.8

56.9

59.7

51.5

COMMODITY PRICES
PRICES RECEIVED AND PAID BY FARMERS
Prices received, all farm products©
1910-14= 100..

242

236

236

234

234

236

238

239

243

251

256

253

250

250

248

Crops
_
__._ _.-._ ... do
Commercial vegetables
_do
Cotton
do
Feed grains and hay
__
do
Food grains..
..__
.
do. >.

239
233
271
164
224

238
246
262
166
190

233
229
261
165
165

234
281
254
161
168

234
241
247
171
168

234
234
233
174
168

234
237
233
176
167

237
261
242
177
166

243
287
249
180
164

248
325
251
182
162

243
299
255
180
158

236
254
253
177
160

224
235
244
171
162

224
231
249
171
160

220
236
248
161
164

do
do
do
do

292
258
156
494

298
256
227
490

319
260
206
497

280
263
229
496

268
273
282
495

272
275
322
488

257
281
331
497

244
282
336
497

241
281
371
499

249
272
391
499

245
274
368
498

91 Q

269
386
498

242
258
231
508

do
do
do
do
do

245
253
290
146
269

235
256
270
142
291

239
274
267
144
288

235
275
258
143
277

234
271
261
139
266

237
267
272
136
270

240
262
280
137
269

241
256
283
139
268

244
248
292
144
265

254
242
320
136
268

266
239
— 345
138
267

9AQ

979

94.7

256
344

283
298
273

282
300
270

282
300
269

282
301
269

283
301
270

285
303
272

286
304
273

286
303
273

287
303
276

290
308
278

290
307
278

9Qn

312

313

313

317

318

318

320

323

323

323

75

74

75

75

76

78

79

78

321
70

321

76

75

106.7. 3 108. 1 3 108. 5

Fruit
Oil-bearing crops
Potatoes (incl. dry edible beans)
Tobacco _
Livestock and products
Dairy products
_
Meat animals
Poultry and eggs
Wool

_
...

.

Prices paid:
All commodities and services. _
.do .
Family living items
do
Production items
do
All commodities and services, interest, taxes, and
wage rates (parity index) J
1910-14=100..

312

313

Parity ratio!!

2 78

276

__

do

•3AA

of>q

941

94K

94.4.

KO-t

K97

9A7

248
91 ft
9KQ

94. %
1 ^fi
1 A7

1 09

0.0,4

970
977
009

9fiQ

9AA

9AQ

289

900

9QQ

K9f»

274
QQ9

14.C

9AQ

one
977

97A

322

307
322
77

CONSUMER PRICES
( U. 8. Department of Labor Indexes)
All items
Special group indexes:
Ail items less shelter...
All items less food
*

1957-59=100..

108.7

108.8

108.9

108.9

109.0

109. 3

109.6

110.1

110.2

110.0

110.2

110 4

do___.
do

106.7
107 4

108.0
108 9

108.3
109 2

108.5
109 5

108.6
109 6

108.6
109 8

108.6
109 8

108.7

109.1
110 1

109.4
110.3

110.0
i in o.

110.1
110.2

109. 8
110.2

110.0
110. 6

110.2
110.9

do _ _ _
do
do _
_ _ _ do
_ do

104.1
104 9
102 1
101 5
116.6

105.2
106 0
103.0
101 2
121,6

105 5
106 4
103 1
101 3
121 9

105 6
106 4
103 5
102 5
122 9

105 7
106 5
103 4
101 6
123 7

105.6
106 3
103 6
101 5
123.7

105 5
106 3
103 3
101 0
121 7

105 6

10fi 9

106 9

inft A

i nfi A

103 2
1 no s
121 7

105 9
107 0
103 0
100 7
120 6

103 5
113 0

'104 4
115 2

104 6
115 7

104 8
116 0

104 9
116 2

104 9
116 6

104 7
116 9

104 8
mo

105 0
117 3

do
do
do
do_--_

105 1
100. 2
103 8
111.0

106 4
98.6
104 7
115". 3

106 9
100. 6
105 3
111.7

106 8
99.5
105 3
113.0

106 9
99.0
105 6
114.5

106 6
99.2
105 6
112.° 4

106 6
99.5
105 2
113.3

106 9
99.6

107 3
99.8

115.3

117.6

Housing......
Shelter9*_.
Rent..
Homeownership*
Fuel and utilities*...
Household furnishings and operation*

do
do
do
do
do
do

106 0
106 9
106 8
107. 0
107 0
102.4

107 2
108 7
107 8
109. 1
107 3
102.8

107 6
109 2
108 2
109 6
107 4
102.8

107 7
109 3
108 3
109 8
107 5
102. 9

107 8
109 5
108 4
110 0
107 9
102.9

108 1
109 9
108 4
110 6
107 9
102.8

108 2
110 2
108 5
110 9
107 4
102.8

1 0R 9

11 n i
108 7
110 8
107 4
103.1

108 2
mi
108 8
110 8
107 2
103.1

no R

m
1 nA Q

103.1

103.1

Apparel and upkeep*. „_„
Transportation....
Private.
Public

do
do___
do
do

104 8
107.8
106 4
116 9

105 7
109 3
107 9
119 0

106 2
109 4
108 0
119 3

106 4
110 0
108 6
119 5

106 6
110 5
109 0
120 3

105 6
111 1
109 7
120 6

105 8
110 6
109 1
121 2

iflfi n
110 6
I OQ ft

106 3
111 0

m

121 3

114 5
120 6
110 0
115.0

114 7
121 0
110 1
115.2

m
m

o

Health and recreation 9 *.
do
111 4
114 0
113 6
114 2
114 3
Medical care
do
119 9
117.0
119 4
120 3
120 2
Personal care
do
107.9
109 7
109 2
110 0
109 7
Reading and recreation...
do ... 111.5
114. 1 114.5
114! 9
114.9
r
Revised.
i Based on unadjusted data.
2 Annual data for 1961-64 for parity ratio
adjusted for government payments made directly to farmers are as follows (unit as above):
83; 83; 81; 80. Descriptive material and annual data back to 1933 appear in the Dept.
of Agriculture publications, "Agricultural Prices," January 1964 and 1965 issues. 3 New series.
Beginning Jan. 1964 the index reflects the following changes: (1) updated weighting factors and
price data base; (2) improvements in statistical procedures; (3) a more comprehensive index,
incl. single workers living alone, as well as families of wage earners and clerical workers;
(4) expansion of the "market basket" from 325 to 400 items; and (5) increase in the sample of
priced cities to 50 metropolitan areas and cities in the U.S. incl. Alaska and Hawaii. The
new series has been linked to the old series as of Dec. 1963 to provide continuous series (see
exceptions in notes "1" and "*"). More complete information and data are available from

n

m

Commodities'!
Nondurables
Durables^ 9 ___„
New cars
Used cars
Commodities less foodf..
Services'!
Food9
Meats, poultry, and
Dairy products
_
Fruits and vegetables..




___do
do
fish

_ _ _

I AC A

104. ^

10Q c

ins Ft

108. 7
102. 3
97. 2

108. 7
102. 1
97. 7

A

117. 8

105.3
118.7

no i
106.4

110. 9
109.2
104. 3
124. 3

109.8
105.0
114.6

109.8
105. 3
108.5

109. 7
108.9
105.5
108.5

108.3
110. 6

110.7

110.8

109.0
111. 2
109.2

102.9

102.9

103.1

107. 7
103.3

110. 0
121.4

109.5
121. 5

109. 5
121. 6

107. 8
111.2
109. 7
121. 6

102 6
Q7 A

122 7
105 1

m

100.3
104. 2
121.4

125.9
ins 9
i no Q
n

inA Q

A

A

115.3
115.6
115.8
116. 2
o
122. 8
123. 0
n
109. 2
115.9
115.7
115.2
114.6
114.3
114.8
the Bureau of Labor Statistics, U.S. Dept. of Labor (Washington, D.C., 20210). cTCompiled
by Dun & Bradstreet, Inc. (failures data are for 48 States and Dist. Col.). fData prior to
1963 exclude Dist. of Col. Revisions for Jan.-Dec. 1962 (seas, adj.) appear on p. S-7 of the
Aug. 1964 SURVEY.
©Revisions for Jan. 1961-Mar. 1964 for all components, and revised data for all farm
products, crops, and commercial vegetables back to Jan. 1958 are available in the May 1965
"Agricultural Prices, Supplement 1." {See note marked "i" on p. S-7 of the Feb. 1964
SURVEY. §Ratio of prices received to prices paid (incl. interest, taxes, and wage rates).
iData beginning 1963 as shown here are not comparable with "old series" data formerly
published.
9 Incl. data not shown separately.
*New indexes.
121 4

110 4
115.4

121 6
110 7
115. 9

m
m

SUEVEY OF CURRENT BUSINESS

S-8
Unless otherwise stated, statistics through 1962
and descriptive notes are shown in the 1963
edition of BUSINESS STATISTICS

1963

1964

Monthly
average

December 1965

1964
Oct.

Nov.

1965
Dec.

Jan.

Feb.

Mar.

Apr.

May

June

July

Aug.

Sept.

Oct.

Nov.

COMMODITY PRICES—Continued
WHOLESALE PRICEScF
( U.S. Department of Labor Indexes)
Spot market prices, basic commodities:
22 Commodities
_
1957-59 =100. _ 193.9 !97.7
'92.0 188.8
9 Foodstuffs
do
195.2 1 104. 6
13 Raw industrials
__do
100.3 100.5
All commodities
do
By stage of processing:
95.0
94.1
Crude materials for further processing — do
100,5 100. 9
Intermediate materials, supplies, etc
_ do
101 .4 101.8
Finished goodsO
._ do
By durability of product:
101 .0 102.4
99.6
99.1
Nondurable goods
. .
do.___

102.3
89. 7
112. 0
100.8

102.7
89.2
113.2
100.7

103.2
91.1
112. 5
100.7

102.3
91.5
110.6
101.0

102.4
91.5
110.7
101.2

103. 0
89.8
113.2
101.3

105.3
90.6
116.7
101.7

105.2
90.3
116.9
102.1

104.2
90.1
115.3
102.8

103.3
89.0
114.6
102.9

104.7
91.2
115.2
102.9

105.4
93.2
114.8
103.0

105.6
93.4
115. 0
103.1

106. 1
93.9
115.5
103. 5

94.3
101.1
102.1

94.0
101.1
102. 1

94.0
101.4
101.9

94.2
101.6
102.3

95.5
101.6
102.3

95.8
101.6
102.4

96.9
101.8
102. 8

98.3
101.9
103.2

100.6
102. 2
103.9

100.5
102.3
104.0

100.8
102.4
103.8

100.0 ' 100. 1
102.5 102.6
104. 1 104.3

100.7
102.9
104. 7

102.8
99. 2

102.9
99.1

103. 0
99.0

103.1
99.5

103. 2
99.6

103.3
99.8

103.4
100.4

103.6
100.8

103. 7
102.0

103. 7
102. 2

103.9
102.0

103.9
102.2

104.0
102.4

104. 2
102.9

__-do
do
- -do

100.6
101.3
99.8

101.1
102.5
99.7

101. 4
102.8
100.0

101.4
102.9
99.8

101.5
102.9
100.0

101.8
103.2
100.5

101.8
103.3
100.3

101.8
102.1
103.3
103.4
100.4 .. 100.7

102.4
103. 6
101.1

103. 0
103. 7
102.3

103.1
103.7
102.5

103.2
103. 9
102.4

103.2
103.9
102. 5

103.4
104.0
102. 7

103.7
104. 1
103. 1

Farm products 9
Fruits and vegetables, fresh and dried
Grains
—
Livestock and live poultry
_

do
do
do
do

95.7
96.1
101.9
88 .8

94.3
103.2
94.1
84.7

93.8
98.2
88.9
85.8

94.0
108.0
88.0
83.6

92.7
98.9
90.1
83.1

93.0
98.5
90.4
85.5

94.5
102.5
90.5
88.4

95.4
107.8
90.6
89.8

97.6
117.7
91.2
91.4

98.4
118.5
91.0
96.2

100.3
109.0
89.6
104.6

100.0
103. 9
88.4
105. 0

99.1
85.5
88.3
106.4

99. 5
96.1
89.3
102.6

'99.4
95.6
88.6
103.2

100.3
95.0
87.4
104.0

Foods, processed 9 -- - --Cereal and bakery products..
Dairy products and ice cream___
Fruits and vegetables, canned, frozen
Meats, poultry, and fish _

do
do
do
do___.
do

101 .1
107.3
107.5
103 .9
93.3

101.0
107.8
107.8
104. 8
90.8

101. 7
108.2
108.9
102.7
93.2

100.9
108.3
109. 5
102.3
89.8

100.8
108.2
108.9
101.9
88.8

102.2
108.2
108.3
101.9
91.9

102.1
107.9
107.8
100.3
92.1

101. 8
108.1
107.5
100.7
92.4

102.3
108.3
107.5
100.9
93.6

103. 3
108.3
106.8
100.4
97.7

106.1
108. 5
107.1
101.5
105. 5

106.6
109.3
107.8
101.8
106.3

106.7
108.8
108.5
100.4
106.3

106.7 ' 106. 9 107.5
110.1
109.1 109.4
110.4
109.1 109.4
101.8 ' 104. 7 105.3
105.3 104.9 105.4

100.7

101. 2

101.5

101.6

101.8

101.9

101.9

102.0

102.1

102.3

102.5

102.5

102.7

102.7

96.3
94.8
95.1
80.3
99 .9
103.8

96.9
97.1
94.3
94.1
94.6
94.7
107.7
112.6
99.3
100.7
104.8
104.9
96.7
97.6
97.7
98.0
101.5 101.4
120.4
123.1
91.9
93.3
98.5
98.5
91.2
90.7
105.5 105.6
81.5
81.3
91.1
91.1
106.0 105.5
109. 1 109.0
95.4
90.7
104.8 103.9
100.3
99.6
100.4
99.2
103.0 103.2
112.9 113.8
112.4
113.4
96.5
96.3
100.7 100.7
103.8 104.3
91.9
91.8
100.7 100.9
110.4 112.0
101.8 101.8
104.6 ' 104. 7
101.1 101.1
108.6 108.6
99.1
98.9
104.0 104.0
92.2
92.1
88.0
88.0
101.4 101.4
103.3 103.2
99.0
99.1
96.5
96.1
116.6 117. 8
103.1 103.3
107.6 107.5
100.8 100.5
105.6
105.6
110.1 108.5
101.1 101.2

97.2
94.2
94.7
116.8
100.7
104.8
98.1
98.2
101.3
124.0
94.0
98.4
90.6
105. 7
81.3
90.0
105.4
109.0
90.2
103.9
99.4
99.1
103.1
114.2
113.7
96.3
100.8
104.7
92.2
101.1
113.0
101.6
' 104. 8
101.1
106.6
98.9
103.7
92.2
88.8
101.5
103.1
99.4
96.8
117.4
102.8
107.5
100.5
105.6
110. 7
101.3

97.3
94.6
94.4
113.4
102.3
104.8
98.5
98.3
101.1
121.4
95.2
98.3
90.2
106.1
81.1
89.7

97.1
95.0
93.9
104.4
102.1
105.7
99.0
95.8
100.8
123.9
96. 4
97.7
88.6
106. 1
79.0
88.0
112.2
110.2
133.4
112.5
101.8
102. 5

97.2 ' 97. 6
95.0 '95.4
93.9 '94.1
108.4 r 110. 1
103.4
102. 5
105.9
105.7
99.2 '99.4
96.6 '97.3
100.8
100.8
125.3 ' 125. 8
96. 6
96.4

' 104. 9
109.1
86.5
104. 2
100.8
100.8
103.3
114.3
113.8
96.7
100.8
104. 5
91.3
101.4
111.5
101.7
' 104. 8
101.3
106.6
99.0
103.7
92.3
88.8
101.5
103. 1
99.5
96.9
121.6
103. 4
107.5
100.5
105.6
110.0
102.1

97.4
95.0
'94.0
110.3
103.3
105. 7
98.7
95.2
100.7
122.5
96.0
97.8
89.2
105.9
79. 6
87.8
108.8
110.0
117.4
105.9
100.5
101.2
103.7
114.9
115.3
97.0
100.7
105.8
91.7
101.5
115.5
101.9
r
105. 3
101.7
' 105. 7
99.9
104.1
93.0
90. 2
101.9
103.8
100.3
95.7
127. 6
104.4

99.3
91.9

99.0
91.8

Total manufactures __ ._
Durable manufactures
Nondurable manufactures

•___

Commod. other than farm prod, and foods.do

Fuels and related prod., and power 9
do
Coal
do
Electric power
Jan. 1958=100—
Qas fuels
do
Petroleum products, refined
1957-59= 100..
Furniture, other household durables 9 .--do
Appliances, household-... _
_
do
Furniture household
do
Radio receivers and phonographs
do
Television receivers. _
__do

99.8
96.9
102 .0
122.8
97.2
98.1
91.8
104 .6
82.8
92.3

96.7
94.2
95.0
96.8
100.1
104.7
97.1
96.9
101.1
121. 3
92. 7
98.5
91.3
105. 3
81.5
90.9

Hides, skins, and leather products 9
Footwear
Hides and skins
..
Leather
.
.
Lumber and wood products...
Lumber

Metals and metal products 9
'- - do
Heating equipment..— _
do
Iron and steel
_ _ _ _ _ _ _ _ _ ...
.do
Nonferrous metals
do —

104.2
108 .3
84.0
101.9
98.6
98.9
102.2
111.1
109.6
97.4
100.0
100 .1
92.9
99.1
99.1

104.6
108. 5
87.5
102.9
100.6
100.7
102.9
112.9
112.4
96.8
100.5
102.8
92.0
100.5
105.9

Nonmetallic mineral products 9 -—
do..—
Clay products, structural
_do
Concrete products
do
Gypsum products
do
Pulp, paper, and allied products. ___.. __. do
Paper
do
Rubber and products
. _ do
Tires and tubes ..
do

101.3
103.6
101 .7
105.4
99.2
102.4
93.8
90.1

Textile products and apparel 9
do
Apparel
.
...
do
Cotton products
do
Manmade fiber textile products— _ _ _ _ _ _ do
Silk products
_
__do
Wool products
...
________do_

100 .5
101.9
100.3
93.9
139.9
100.9

101.5
104.2
100.9
108. 2
99.0
103.6
92.5
89.0
101.2
102.8
99.6
95.8
117.3
103. 0

Tobacco prod, and bottled beverages 9— -do—.
Beverages, alcoholic
..-do....
Cigarettes
do
Miscellaneous
do
Toys, sporting goods
do

106 .1
101.0
104.1
110.4
101.0

107. 4
100.7
105.6
109.2
101.0

PURCHASING POWER OF THE DOLLAR
As measured byWholesale prices
..1957-59=100..
Consumer prices.-—
do....

99.7
93.7

99.5
92.5

Chemicals and allied products 9
Chemicals industrial
Drugs and Pharmaceuticals
Fats and oils, inedible
.
Fertilizer materials
Prepared paint

..do
do
do
do
do
-- --do

.do
do
do _
do.
do
do .

Machinery and motive prod. 9
do
Agricultural machinery and equip
do—
Construction machinery and equip— ..do
Electrical machinery and equip
do
Motor vehicles
do. —

99.2
92.2

99.3
92.0

' Revised.
* Preliminary.
1 Monthly averages computed by QBE.
2 Indexes
based on 1947-49=100 are as follows: Measured by—wholesale prices, 81.7 (Oct.); consumer
prices, 73.8 (Oct.).
d" For actual wholesale prices of individual commodities, see respective




97.6
97.4
97.5
97.6
94.8
94.8
94. 5
94.8
95.0 '93.9
94.6
94.8
116.7 114.0
121.2
118. 7
104. 3
104. 3 104.3 104.3
104.4
104.4 105.7 105.7
98.4
98.7
97.9
97.6
94.6
94.7
97.3
94.6
100. 8
100.8
100.8 100.8
122.7
124. 1 122.5 122. 2
95.4
96.0
94.0
94.1
98.0
98.0
98.3
98.0
98.2
89.2
89.4
90.0
89.4
90.0
106.0
106. 0
106.0 106.0 105.9
81.1
81.1
81.1
81.1
81.1
88.9
88.9
88.9
88.9
88.9
107.7
105.1 105.7
106.3 107.4
109.1 109.1 109.7 109.7 109.8
92.1
90.2
96.3 105.9 103. 1
104.2 107.6
105. 7
103.2
103.6
100.4
100.3
100.7
100.8
100.5
101.0 101.1
101.3
101.4
101.0
103.5
103.5
103.7 103. 7 103.8
114.7 114.7
114.4 114.6
114.6
115.1 115.2
114.3
114.5
115.0
96.8
97.1
96.8
97.1
97.0
100.7
100.9
100.8
100.8 100.8
104.6
104.8
105.2 105.7 105. 9
91.6
92.0
91.4
91.6
91.9
101.5
101 3
101.3
101.2
101.4
115.2
116.2
111.8
112.3
113.4
101.9
102. 0
101.8 101.9
101.9
r
104. 8 ' 104. 9 * 104. 9 * 104. 9 ' 104. 9
101.2
101.2
101.3 101.3 101.6
108.4
107.7
108.1 108.1 107. 5
99.5
99.0
99.8 100.0 100.0
104.0 104. 1
103.8 103.8
103.9
93.1
92.9
92.2
92.2
92.3
89.7
88.5
88.5
90.2
88.5
101.5 101.6
101.9
101.5 101.5
103.1 103.1 103. 1 103.2 103. 6
99.7
100.2
99.9
99.6
99.6
96.1
95.9
96.0
96.3
96.4
134.5
135.1
132.2
131.4
135.5
104.0
103. 3 103.1 103. 1 103.8
107.8 108. 1 107.6
107. 5
107.6
100.7 100.8 100.7
100.9 100.6
106. 5 107.3 105.6
105.6
105.6
110.3 108.9 111.0
109.5
109.6
102.2 102.2 102.4
102.5 102.5
97.5
94.7
94.6
118.3
103.8
105.2
97.9
98.3
100.8
124.1
93.9

98.8
91.8

98.7
91.7

98. 3
91.5

97.9
91.2

97.3
90.8

102.8

107.6
100.7
105. 6
112.6
102.9

103.8
114.8
115.6
96.7
100.7
106. 2
91.9
101.4
116.5
101.6
105.3
101.5
100.6
99.9
104.1
93.2
91.1
101. 9
103.9
100. 4
94. 7
132.8
105.0
107.6
100.7
105.6
111. 5
102.7

97.7
88.6
106.2
79.0
88.0
111.3
110. 3
124.9
110.9
102.0
103. 1
103.8
115.0
115. 6
96.6
100.5
106.2
91. 9
101.2
117.0
101.6
105.4
101.6
99. 9
100.0
104.1
93.3
91.1
102.1
104. 2
100.6
94.2
134. 9
105. 2
107.7
100.9
105. 6
111.5
103.0

97.8
88.6
' 106. 4
'79.2
'87.9
'113.3
'113.6
125.6
111.9
' 101. 6
' 103. 0
103.9
' 114. 9
115.8
'96.6
100.5
106.3
91.9
101.2
117.4
101.6
105. 4
101.6
'99.1
' 100. 5
104.5
93.4
91. 1
' 102. 0
104. 3
'100.8
'93.3
140. 3
105. 4
107.7
100.9
105.4
111.2
' 102. 9

97.2
90.7

97.2
90.9

97.1
90.7

97.0
2 90. 6

commodities.
©Goods to users, including raw foods and fuels.
shown separately.

103.1

97.5
95.5
94.7
106,7
103.8
105.9
100.3
97.4
100.8
126.5
98.1
98.0
88.6
106.5
79.2
87.9
113.6
113.5
126. 5
113.3
101.6
102. 9
104.1
116.8
116.4
96.4
100.5
106.6
91.6
101.3
118. 6
101. 7
105.4
101.8
98.6
100.7
104.8
93.5
91.1
102.0
104.2
101. 0
92.6
142.2
105.4
107.7
100.9
105.6
113.1
102.8

296.6

9Includes data not

SUEVEY OF CURRENT BUSINESS

December 1965
Unless otherwise stated, statistics through 1962
and descriptive notes are shown in the 1963
edition of BUSINESS STATISTICS

1964

1964

1963

Monthly
average

S-9

Oct.

Nov.

1965
Dec.

Jan.

Feb.

Mar.

Apr.

May

June

July

Aug.

Sept.

Oct.

' 6, 322

Nov.

CONSTRUCTION AND REAL ESTATE
CONSTRUCTION PUT IN PLACEf
5, 230

5,485

6, 076

5,754

5,377

4,682

4,236

4,748

5,132

5,609

6,364

6,331

6,409

' 6, 484

3,824
2,209
1,718

4,089
2,311
1,842

4,000
2,229
1,788

3,767
2,076
1,670

3,316
1,788
1,433

3,378
1,827
1,398

3,713
2,134
1,559

4,045
2,371
1,728

4,433
2,630
1,935

4,484
2,591
2, 019

4,466
2,527
2, 009

0)

0)

3, 070
1,580
1,273

0)

0)

0)

' 4, 394 ' 4 319
'2 450 '2 370
'1 955 ' l' 897

0)

0)

1,122

1,070

1,048

327
439

327
425

1,050

1,047

1,108

1,209

1, 294

1,331

do
do
do

3,655
2,154
1,672
0)
989
247
433
189
104
383

404

181
92

469

466

179
94

447

338

324

379

201
92

409

233
95

435

286
102

454

315
112

456

318
109

do _
do _
do
do
__do

1,575
462
102
579
' 432

1,660

1,987

1,754

1, 610

1,366

1,166

1,370

1,419

1,564

516
66
388
449

538
77
472
477

1,931

1,847

1,943

New construction (unadjusted), totalf-

mil.$_.

Private total 9
- --.--do
Residential (nonfarm) 9
do
New housing units
- _ -do
Additions and alterations
do
Nonresidential buildings, except farm and
public utilities total 9
mil $
Industrial
__
do
Stores, restaurants, and garages
Farm construction
Public utilities
_
Public total
Nonresidential buildings
Military facilities
TTlghways
Other types

-

New construction (seasonally adjusted at annual
rates) totalt
---__mil. $__ 2 62,755
43, 859
Private total 9
do

Nonresidential buildings.
Military facilities
Highways

- __

0)

•0).

1,176

1,178

203
102

247
107

244
101'

275
471

514
81
598
468

2

295
519

568
108
806
505

307
522

495
94
714
451

320

; > ' 483

211
97

493
63
640
414

470
57
439
400

450
49
290
377

321
436
200
94

490
63
398
419

316
436

0)
315
481

320
555

584
83
737
527

330
611

559
78
709
501

342
624

465
599
86
717
541

(i)

(i)

m

1 336 ' 1 319 1 314
350
'352
350
617
'600
599
301
'283
280
107
104
99
'465
'486
491
' 2 090 '2 003
'618
'619

91
840

' 541

m
766
528

1 833

m
m

553

65,817

64, 861

65, 153

66, 178

66, 055

66, 881

67, 598

67, 590

67, 572

68, 950

68, 599

67, 953 '69,311 '67 671

45,891

45, 294

45,368

45, 684

46,333

46, 846

47, 171

47,544

47,982

48, 616

48, 603

48, 194 '48 068 '47 831

47 811

25,843

26, 507

25, 685

25, 638

25,953

26, 676

26, 713

26,602

26, 675

27, 070

27, 224

26, 983

26, 621 '26 413 '26 344

26 132

11,863
2,962
5,200
2,268
1,247
4,596

12, 975
3,303
5,656
2,434
1,221
4, 850

13,115
3,445
5,653
2,543
1,215
4,990

13, 190
3,521
5,709
2,600
1,212
5,012

13, 034
3,610
5,641
2, 549
1,209
5,165

13,390
3,792
5,662
2,546
1,205
4,824

13, 466
3,871
5,701
2,660
1,214
5,075

13, 761
3,934
5,903
2,855
1,212
5,207

14,047
3,997
6,089
3,022
1,209
5,181

14,240
4,012
6,254
3,127
1,201
5,034

14, 599
4,040
6,574
3,290
1,196
5,187

14, 887
4,073
6,826
3,336
1, 188
5,185

14, 921 14 885 '14 683
14 664
4,096
4 114 ' 4 099 4' 008
6, 815
6 754 ' 6 529 6 545
3,232
3 101 '2 897
2 977
1,186
1 186
1 185
l' 183
5,142 ' 5 208 ' 5 182 5' 306

__ do

18, 896

19, 926

19, 567

19, 785

20, 494

19, 722

20, 035

20, 427

20, 046

19, 590

20, 334

19, 996

19, 759 r 21 243 '19 840

do
do
do

5,540
1,227
6,948

6,163
968
7,182

6,237
1, 097
6,739

6,212
1,033
7,087

6,440
756
7,583

6,319
785
7,010

6,476
776
7,151

6,300
912
7,541

6,173
888
7,396

6,321
887
6,862

6,244
833
7,546

6,388
980
7,156

6,642
910
6,529

3,796
3132
1,221
2,574

3,942
3
137
1,281
2,661

4,029

3,757

3,598

3,127

3,223

4,209

4,770

4 625

4 795

4 265

4 153

1,230
2,368

1,104
2,023

1,112
2,110

152

1,174
2,583

141

4,864

1,310
2,719

1,348
2,861

1,539
3,231

1,517
3,348

1 553
3,072

1,750
3,045

1,313
2,952

1 332
2 821

1 294
3' 061

1,198
1,709
889

1,291
1,713

1,425
1,702

937

902

1,263
1,482
1,012

1,298
1,306

1,155
1,273

1,060
1,299

1,379
1,877

953

1,546
2,139
1,086

1,775
2, 074
1,015

1,551
2 080

1,691
1,952
1,151

1,507
1 971

1 464
1 756

1 582
1 897

2,770

3,700

3,676

2,900

3,915

3,476

3,322

2,962

4,174

3,215

3,714

3,915

3,895

Residential (nonfarm)
do
Nonresidential buildings, except farm and
public utilities, total 9
__mil. $
Industrial
do
Commercial9
- do
Stores restaurants, and garages. __do_ _
Farm construction
do
Public utilities
_
do
Public total 9

0)
1,081

6,054
4 221
2 273
1*827

____

' 6, 828 ' 6, 800
1 025
7 636
6 384

68 524

20 713

6,943

s

CONSTRUCTION CONTRACTS
Construction contracts in 48 States (F. W. Dodge
Co.): A
Valuation total
mil $
Index (mo. data seas. adj.)_____1957»59=100__
Public ownership
mil $
Private ownership
_ do
T*y type of building:
Nonresidential
do
"Residential
do
Non-building construction.
do
New construction:
Advance planning (ENR)§
do
Concrete pavement awards:
Total
thous. sq yds
Airports
_ -_
do
Roads
do
Streets and alleys
do
Miscellaneous
do

136

143

430,160 430,942
4 1, 445 4 1, 338
19, 233 « 22,468
4 9, 481 4 « 6,395

154

994

137

140

700

863

2,614

4,013

31, 148

28, 931

22, 236
6, 993
1,039

22, 835
4,837

880

45742

145

139

993

149

139

788

34 455
1 601
22,421
8 991
1 443

623

635

147

934

4 356

147

877

4,618

33 048

857

20 692
9 549
1 950

HOUSING STARTS AND PERMITS8
New housing units started:
Unadjusted:
Total, incl. farm (public and private) _.-thous_.
One-family structures
do
Privately owned _ _ _
do
Total nonfarm (public and private)
In metropolitan areas
Privately owned
Seasonally adjusted at annual rates:
Total, including farm (private only)
Total nonfarm (private only)

do
do __
do

134.1

136.7
85.1

132.6
81.1
129.8

146.1
92.0
144.0

114.6
69.5
112.0

98.3
58.8
96.7

85.6
51.8
81.5

87.9
51.5
85.4

124.9
76.7
120. 7

154.9
100.2
152. 2

162.1
102.3
157 5

162.3
99.9
155 5

143.9
94.1
141 3

'138.0 ' 125. 9 ' 135. 9
116.5
'88.5
'79.8
89.7
' 134 6 r 124 3 ' 133 3 114 3

134. 4
95.8
131.8

130. 3
693.2
127. 5

143.5
100.9
141.4

' 112. 5
77.7
109.9

96.4
70.4
94.8

84.2
58.8
80.1

87.1
63.4
84.7

123.0
90.7
118.8

152.8
102. 5
150.1

159.8
110.4
155. 2

159.6
114.3
152.8

141.6
95.1
139 0

'136.2 ' 124. 3 ' 133. 2
'94.8
94 5
'87 7
' 132. 8 ' 122 7 '130 6

1,522
1, 495

1,505
1,480

1,610
1,575

1,442
1,417

1, 482
1,468

1,489
1,465

1 552
1,532

1 516
1 501

1 566
1 539

1 473 ' 1 427r i 453 ' 1 409 1 534
1 447 ' 1 409r i 436 ' 1 378 1 518

1,236
709

1,256
741

1,195
720

1,280
734

1,224
713

1, 269
711

1,187
677

1,240
722

1,254
703

1,243
704

do
do

New private housing units authorized by bldg. permits (12,000 permit-issuing places):*
Seasonally adjusted at annual rates:
Total
thous.- 2 1, 335
2750
One-family structures
__do

2 1,286
2 720

1,217
692

' 1, 180
'677

' 1, 259
'741

115.3
113 1

1,274
741

CONSTRUCTION COST INDEXES
Dept. of Commerce composite^
..1957-59=100.
American Appraisal Co., The:
Average, 30 cities
_1913=100_..
Atlanta..
.
_
do
New York
_
do
San Francisco.
do
St. Louis
_ _ _ _
do
Associated General Contractors (building only)
1957-59^ 100__

109

112

113

113

113

113

114

114

114

114

116

116

117

'116

117

780

802

811

811

812

814

815

815

815

818

820

825

827

829

834

857
858
761
760
114

878
888
792
785
119

892
889
803
788
120

892
890
803
796
120

892
890
803
797
120

' Revised.
i Not yet available; estimate included in total.
2 Annual total (also for
breakdown
of new construction value).
3 Computed from cumulative valuation total.
4
Quarterly average.
s Prior to 1964, "miscellaneous" yardage was included with data for
roads and streets.
6 Effective Jan. 1964, based on 1964 definition of standard metropolitan statistical areas;
not strictly comparable with earlier data.
t Revised series.
Revised monthly data for 1946-Apr. 1964 appear in Construction Reports C30-61 Supplement and C30-65-6 (Bu. of the Census).
9 Includes data not shown separately.
AMonthly averages are based on annual totals
including revisions not distributed to months.
793-966 O-65-4




892
917
804
804

901
917
804
804

901
917
804
804

901
917
804
803

901
917
804
810

901
917
804
809

907
917
804
809

121

121

121

121

122

123

124

908
917
804
809
124

809

909
940
834
805

124

124

908
939
'834

117

124

§ Data for Oct. and Dec. 1964 and Apr., June, and Sept. 1965 are for 5 weeks; other months,
4 weeks. Comparable data prior to 1961 not available.
0 Re visions for Jan.-Apr. 1964 for permits and unadj. starts and for 1959-Apr. 1964 for seas,
adj. starts appear in Census report C20-65-5.
* New series (from Bu. of Census reports, Series C-20). The 12,000 permit-issuing places
covered by these data account for a major portion (about 83 percent) of private residential
building in the United States (1959-63 data for 10,000 places are also provided in Series C-20
reports).
tRevised to 1957-59 reference base; also reflects revision of basic data.

SURVEY OF CURRENT BUSINESS

S-10

1964

1964

1963

Unless otherwise stated, statistics through 1962
and descriptive notes are shown in the 1963
edition of BUSINESS STATISTICS

December 1965

Monthly
average

Oct.

Nov.

1965
Dec.

Jan.

Feb.

Mar.

Apr.

May

June

July

Aug.

Sept.

Oct.

Nov.

CONSTRUCTION AND REAL ESTATE—Continued
CONSTRUCTION COST INDEXES— Con.
E. H. Boeckh and Associates, Ine.:H
Average, 20 cities:
,0*7*0 mn
An t-vrnpsi Ywmhined
1957-5y =* lUU—
A v^r>W -manto Vintpl<S f»ffi PP hUlllfllnffS

Engineering News-Record:
Building

U.O -

1957-59=100—

110. 2
111. 3
110. 2
108.5

113.4
114.6
113.4
111.6

114.5
115.7
114.5
112.6

114.6
115.8
114.6
112.7

114. 7
115. 9
114.6
112.7

114.9
116.1
114.8
113.0

115.4
116.7
115.3
113.4

115.5
116.9
115.4
113.6

115.6
117.0
115.5
113.7

116.1
117.5
116.1
114.1

117.2
118.4
117.3
115.0

118.0
119.2
118.1
116.0

118.2
119.4
118.3
116. 1

118.4
119.7
118.5
116.4

118.8
120.0
118.8
117.0

112. 7
118.6

116.1
123.2

117.0
124.7

117.0
124.8

117.0
124.8

116.9
124.7

117.9
126.0

118.0
126.0

117.8
126.0

117.8
126.0

118. 8
127.6

119.1
128.6

119.5
129.5

120. 1
129.8

120.4
129.8

1 120. 2
1 129. 7

Bu. of Public Road's— Highway construction:
Composite (avg. for qtr.)
,
1957-59 iuu__ 3 101. 0

2

103.8

102. 0

103.2

106 9

106 7

CONSTRUCTION MATERIALScf
Output index :

-

1947_49-100

Lumber and wood products, unadj

-do

142.9

' 152. 6

163.8
144.9

141.4
147.9

130.9
152.2

127.0
135.4

131.9
148.9

164.4
170.0

162.7
160.0

159.6
148.9

171.2
160.3

140.7
141.2
175. 7

154.2
151.4
183.2

163.9
161.0
217.3

143.7
141.3
186.0

135.9
132.5
155.3

136.7
131.7
104.9

136.2
138.4
93.4

177.4
171.0
134.8

183. 4
159.1
179. 4

165. 9
155.5
207.3

170.0
161.9
233.2

163.6
149.1
236.2

' 187. 5
167.5
246.7

161.9
173.5
224.5

15.8

15.2

11.6

9.5

15.1
183
8.7
112

11.6
194
7.3
118

11.7
193
7.1
118

11.8
202
6.8
113

15.1
203
8.7
124

19.2
184
10.5
110

18.7
190
9.5
95

16.6
183
10. 4
109

15.7
155
9.7
93

15.1
168
8.6
92

17.3
184
8.9
89

16.6
187
8.4
98

15.1
192
7.2
97

14.5
229
6.8
105

547. 77
237. 68

650. 14
275. 73

556. 64
258. 30

562. 63
241.82

542. 46
225. 40

443. 58
199.82

532. 44
216. 46

541. 38
178. 87'

515. 58
182. 49

610.77
217. 36

646. 67
217. 21

757. 29
244. 70

755. 77
254. 42

714. 36
245. 00

706. 02

3 5, 325

4,797

4,784

5,325

4,944

4,851

4,747

5, 219

5.227

5,586

5,793

5,770

5,802

5,826

5,724

2,051

1,527

' 158. 6 r 175. 8
164.1 r 159. 3

169.3
162.0

REAL ESTATE
Mortgage applications for new home construction:
Applications for FHA commitments O
tnous. uniis__
Requests for V A appraisals. .
Seasonally adjusted annual rate

ao
do

Home mortgages insured or guaranteed by—
Fed Hous Adm * Face amount
mil. <p— 464. 09
253. 76
Federal Home Loan Banks, outstanding advances
3 4, 784
New mortgage loans of all savings and loan associations, estimated total--.
mil. "-By purpose of loan:
Home construction
uo
All other purposes

2, 061

2,042

1,791

1,969

1, 541

2,056

2,068

2,022

2,399

2,186

2,187

^2,079

1,985

587
827
648

543
866
633

531
893
627

462
770
559

522
784
663

370
638
519

379
638
524

544
824
688

558
850
660

526
861
635

614
1,099
686

520
1,063
603

511
1,099
577

'490
' 1, 015
••574

490
920
575

3, 077
8,183

3,077
9,052

3, 225
9,283

2,847
8,654

2,936
8,987

2,422
8,858

2,396
9,113

9, 888

10, 259

9,578

10, 248

9,753

9,521

9,806

mil. $__ 117. 13

113. 93

106. 11

104. 21

124. 59

136. 18

113. 11

138. 63

128. 48

116. 92

119. 54

130. 52

111. 78

115. 44

ao

New nonfarm mortgages recorded ($20,000 and
under), estimated total
mil. $—
Nonfarm foreclosures.numberFire losses (on bldgs., contents, etc.)—-

108. 72

DOMESTIC TRADE
ADVERTISING
Printers' Tnk advertising index, seas. adj.:t
Combined index
_ _ _ 1957-59=100-Business papers
•
do
Magazines
-- ; do
Newspapers
Outdoor
Radio (network)
Television (network)
Television advertising:
Network (major national networks) :f
Net time costs, totalf
Automotive, In cl. accessories
Drugs and toiletries
_ _ _
Foods soft drinks, confectionery

do_ __
do_ __
do
do

125
112
136

126
117
139

127
119
136

129
115
141

127
120
140

126
114
142

130
121
144

125
114
139

130
126
144

130
114
144

130
1°2
150

95

103
89
103
157

90
114
99
163

101
96
104
161

104
104
112
163

108
58
90
153

103
101
92
149

106
90
101
155

100
82
110
154

100
108
112
155

106
99
105
161

104
77
95
157

88
102
145

mil. $_. 2264 5
do
2 22 7
do __ 2 87 1
2
do
47 4

Soaps, cleansers, etc
do_ _.
Smoking materials
_ _ do
Allother
do
Spot (natl. and regional , cooperating stations) :
Gross time costs, total.
_.__ mil. $__
Automotive, incl. accessories _ _ _ do
Drugs and toiletries
do
Foods, soft drinks, confectionery
do
Soaps, cleansers, etc
Smoking materials
Allother

118
111
127

do... .
do
do

Magazine advertising (general and natl. farm magazines) :
Cost, total
_
mil $
Apparel and accessories
_• _
do
Automotive, incl. accessories— _
do
Building materials
do
Drugs and toiletries
do
Foods, soft drinks, confectionery
do
Beer, wine, liquors
do
Household equip., supplies, furnishings -.do
Industrial materials
do
Soaps, cleansers, etc
do
Smoking materials
do
All other
do

2

24 5
22 32 6
50 3

2

217
8
2
81
2 42 8
2
73.0
2

22 9
9 7
61 2

2
2

77
4
8
2
8
10

6
8
5
2
0
4

2

353.6
33.7
109.2
59.1

310.6
21.1
105.7
58.2

280 5
17 5

25.8
36 7
57.3

27.7
44.9
79.0

28.8
38.4
58.4

27 9
30 7
59 3

254 0
29 6
48 2
288.2

272.8
8.3
49.8
92.8

249.6
88
51.9
90.2

273 6
9 5
48 1
97.7

23.6
13.7
84.5

22.3
13.2
63.2

25 9
13 4
79 1

286. 5
24.1
90.2
52.4

2
2
2
2
2
2

2

2

2
2
2

24 6
12 5
70.8

83
5
9
2
9
11

1
1
2
3
1
2

114 9
7 6
18 0
2 6
11 9
12 9

6 7
4 7
4 9
8.4
5.5
6.0
6 3
3 7
4 0
13
2 0
10
3 0
38
3 2
34.8
26.7
25,8
'2 Revised.
1 Index as of Dec. 1, 1965: Building, 120.4;; construction, 130.0.
Annual average based on quarterly data.
3 End of year
Tl Copyrighted data; see last paragraph of headnote, p S--1
cf Revisions for 1961—Apr. 1964 will be shown later.
9 Includes data for items not shown separately.




103 8
6 3
11 2
19
11 8
13 6

80 2
39
6 1
10
10 4
11 1

7 6
8.2
4 7
2 3
36
32.7

9 7
5.3
32
g
36
25.0

58 8
19
6 5
1 4
6 3
87

77 2
35
91
18
85
11 5

94
6
10
3
9
12

1
6
9
0
6
3

269
16
91
65

56 9

103 4
86
11 9
3 7
9 7
11 3

103 7
6 6
11 0
37
9 4
11 6

86
2
9
3
9
12

6
4
0
1
8
7

5
3
0
7

26 8
99 3
40 4

68 7
9
59
2 4
83
9 4

65 3
6 6
4 4
17
80
85

Qft 0

|9Q 5

10 1
36

80
16 9
32
12 0
13 1

q n

10 1
9 3

32
6 0
4 6
7 3
5 Q
5 9
34
6 1
38
9 2
85
6 0
4 2
39
31
4 9
6 5
5 /1
14
16
2 2
17
2 7
16
35
4 3
33
3
9
36
34
35.2
27.5
24.3
21.3
32 7
38.8
©Monthly data prior to 1963 are on p. 20 of the Feb. 1965 SURVEY.
§ Data include guaranteed direct loans sold; these became sizable after 1962.
JData revised beginning 1961; revisions prior to Mar. 1964 will be shown later,
tRevised series. Data revised beginning 1st qtr. 1963 to reflect net time costs (including
talent, production, and rights); figures for 1st qtr. 1963—1st qtr. 1964 will be shown later.
19
3.2
2 6
12
2 7
22.5

37
3.0
28
19
31
28.3

4 9
6.0
33
2 0
34
32.1

6 1
7.7
4 6
28
3 4
33.5

SURVEY OF CURRENT BUSINESS

December 1965
1963
Unless otherwise stated, statistics through 1962
and descriptive notes are shown in the 1963
edition of BUSINESS STATISTICS

S-ll

1964

| 1964

Monthly
average

Oct.

Nov.

1965
Dec.

Jan.

Feb.

Mar.

Apr.

May

June

July

Aug.

Sept.

Oct.

Nov.

DOMESTIC TRADE—Continued
ADVERTISING— Continued
Newspaper advertising linage (52 cities) :
Total
mil. lines..
Classified.
do
Display total
Automotive
Financial
General
Retail

238.0
62.5

247.8
65.6

265.0
67.6

276.4
63.7

262.3
54.8

223.8
65.2

214.5
62.5

256.3
71.3

271.8
72.7

286.0
79.9

266.0
75.7

238.7
74.1

261. 4
79.1

271.9
72.9

296.3
78. 4

do__
-do
do
do_
do

175. 6
12.5
4.9
23.8
134.3

182.2
13.3
5.1
24.4
139.4

197.4
12.6
5.2
30.1
149. 5

212.8
13.1
4.7
30.1
164. 8

207.5
9.3
5.0
22.2
171. 1

158.6
10.6
7.3
19.3
121.4

152.0
12.0
4.3
19.8
116.0

185.0
14.3
5.4
24.8
140.4

199.1
16.6
5.7
25.4
151.4

206.0
16.9
5.0
28.5
155. 6

190.3
17.3
5.4
24.9
142.7

164.6
13.4
5.7
18.2
127.3

182.3
13.3
3.9
18.1
147.1

198.9
13.2
4.6
27.4
153. 8

217. 9
18.8
5.4
30.6
163.2

mil. $

20, 536

21, 802

22, 605

21,720

27, 719

20, 581

19,608

21, 915

23, 525

23, 820

23, 825

24, 129

22,989

22,741

6,675
3,830
3,600
230

7,093
4,041
3,800
240

7,133
3,858
3,614
244

6,813
3,713
3,471
242

8,201
4,370
4,057
313

6,665
4,219
4,032
187

6,664
4,247
4,069
178

7,709
4,958
4,744
214

8,061
5,036
4,780
256

8,225
4,984
4,711
273

8,451
5,071
4, 793
278

8,154
4,800
4,523
277

7,539
4,225
3, 970
255

7,131
3,729
3,490
239

i 8, 414 i 8, 223
1
4, 814 i 4, 737

1,000.
671
329

1,045
700
345

1,110
746
364

1,136
765
371

1,143
760
383

1,158
732
426

i 1, 239

RETAIL TRADE
Ail retail stores:
Estimated sales (unadj ) total

Durable goods stores 9
__do
Automotive group
do
Passenger car other auto dealers
do
Tire battery accessory dealers
do

1

24, 892 i 24, 512

Furniture and appliance group
Furniture homefurnishings stores
Household appliance, TV, radio

do
do
do —

968
622
346

1,091
705
386

1,182
776
406

1,169
752
417

1,488
890
598

953
631
322

903
598
305

1,000
665
335

Lumber, building, hardware group
Lumber bldg materials dealerscf
Hardware stores

do —
do
_do__ .

964
743
221

970
738
232

1,118
871
247

995
743
252

992
643
349

743
553
190

697
528
169

829
636
193

999
759
240

1,118
854
264

1, 175
920
255

1,193
937
256

1,151
909
242

1,129
879
250

Nondurable goods stores 9
do. - _ 13, 861
1,205
Apparel group
do
232
Men's and boys' wear stores
_do
466
Women's apparel, accessory stores do___.
300
Family and other apparel stores
do_-__
207
Shoe stores
-- .-do

14, 709
1,297
252
510
316
219

15, 472
1,376
269
547
345
215

14,907
1, 355
273
539
333
210

19,518
2,324
523
924
571
306

13, 916
1,100
231
439
247
183

12,944
917
181
378
206
152

14, 206
1,072
193
448
241
190

15, 464
1,411
257
555
323
276

15, 595
1, 281
248
511
296
226

15, 374
1,229
260
468
289
212

15, 975
1,166
229
452
291
194

15,450
1,197
219
456
"•324
198

15,610
1,327
238
502
353
234

681
1,506
4,929
4,463
1,614

715
1,617
5,183
4,689
1,691

724
1,688
5,528
5,031
1,761

689
1,568
5,017
4,546
1,712

966
1,658
5, 762
5,208
1,790

716
1,559
5,242
4,786
1,679

692
1,453
4,854
4,405
1,561

731
1,595
5,158
4, 684
1, 698

736
1,699
5, 381
4,886
1,769

749
1,818
5,441
4,926
1,847

744
1,852
5,422
4,902
1,899

764
2,001
5,983
5,427
1, 967

755
1,969
5,402
4,874
1,930

769
1,861
5,501
4,983
1,823

2,388
1, 390
177
385
472

2,643
1,553
195
431
497

2,801
1,668
209
430
510

3, 021
1,761
262
473
518

5,048
2,977
341
901
770

2,094
1,254
135
311
455

1,998
1,159
147
333
433

2,391
1,418
192
371
448

2,779
1,649
194
456
482

2,744
1,646
189
442
506

2,682
1,618
179
427
493

2,608
1,551
168
431
538

2,793
1,669
207
445
493

2,869
1,741
218
442
501

21, 383

21,661

22,781

22, 900

23,317

22, 805

22, 865

23, 352

23,331

23, 743

23,544

23,774

do _
do
do
do

6,496
3,495
3,265
230

6,695
3,685
3,428
257

7,645
4,588
4,344
244

7,855
4,709
4,470
239

7,966
4,855
4,608
247

7,669
4,592
4, 352
240

7,550
4,455
4,204
251

7,703
4,538
4,279
259

7,760
4,584
4,341
243

7,922
4,720
4,474
246

7,837
4,639
4,387
252

7,789
4,594
4,341
253

7, 838 i 7, 927
14,457

do
do
do

1,088
703
385

1,098
701
397

1,113
702
411

1,103
748
355

1,081
715
366

1,094
720
374

1,086
706
380

1,085
720
365

1,107
742
365

1,135
765
370

1,132
742
390

1,136
714
422

i 1, 167

Lumber, building, hardware group __ do
Lumber, bldg. materials dealerscf
do
Hardware stores
do

983
741
242

982
721
261

1,004
742
262

1,050
805
245

991
756
235

970
746
224

968
738
230

1,030
791
239

1,042
808
234

1,049
804
245

1,025
778
247

1,024
771
253

14, 887
1,301
259
512
320
210

14,966
1,310
261
517
303
229

15,136
1,300
257
518
299
226

15, 045
1,327
258
531
315
223

15,351
1,335
265
531
320
219

15, 136
1,261
253
513
285
210

15,315
1,253
254
499
295
205

15, 649
1,326
263
519
320
224

15, 571
1,305
254
517
318
216

15, 821
1,347
260
527
347
213

15,707
1, 336
267
511
350
208

15,985
1,347
266
511
353
217

16, 121
i 1, 354

do
do
do
do
do

739
1,637
5,229
4,736
1,722

724
1,609
5,258
4,774
1,738

731
1,653
5,409
4,913
1,755

734
1,704
5,192
4,714
1,749

745
1,720
5,338
4,841
1,798

748
1,699
5,301
4,809
1,774

760
1,741
5, 400
4,910
1,798

749
1,767
5,405
4,904
1,818

758
1, 749
5,489
4,978
1,829

776
1,814
5,546
5,015
1,835

779
1,775
5,517
4,996
1,826

807
1,805
5,626
5, 100
1,834

1828
i 1, 897
i 5, 670

General merchandise group 9
do
Denartment stores _ _ _
do
Mail order houses (dept. store mdse.) do
Variety stores
..
do
Liquor stores
do

2,664
1,568
198
429
503

2,738
1,580
191
466
509

2,762
1,600
196
442
508

2,832
1,715
193
439
499

2,848
1,712
196
456
515

2,801
1,666
208
454
504

2, 781
1,676
197
432
512

2,913
1, 753
210
472
525

2,795
1,666
205
462
521

2,912
1,757
216
467
522

2,889
1,740
207
468
509

2,946
1,768
220
476
530

i 2, 967

Drag and proprietary stores
Rating and drinking places
Food group
_
Grocery stores
Gasoline service stations

do
do
do
do
do

General merchandise group 9
do
Department stores
_
__do
Mail order houses (dept. store mdse.')- do
Variety stores
do
Liquor stores
_
_ do _
Estimated sales (seas adj ), totalt
Durable goods stores 9
Automotive group
Passenger car other auto dealers
Tire battery, accessory dealers
Furniture and appliance group
Furniture, homefurnishings stores
Household appliance, TV, radio

Nondurable goods stores 9
Apparel group
Men's and boys' wear stores
Women's apparel, accessory stores
Family and other apparel stores
Shoe stores
Drug and proprietary stores
Eating and drinking places
Food group
Grocery stores
Gasoline service stations

do

do
do
do
do- __
do
do

Estimated inventories, end of year or month:f
Book value (unadjusted), total ._ ..
mil. $
Durable goods stores 9
do Automotive group
do
Furniture and appliance group
do
Lumber, building, hardware group do

1

16, 478 i 16, 289
i 1, 395 i 1, 455

1811
1,958
5, 867
5, 352
1,865

1783
1,786
5,402
4,924
1,813

i 3, 026
i 1, 833

3,455
2,106

i
i
i
i

23, 959 i 24, 013
1

30, 181
12, 996
5,517
2,111
2,514

31, 071
12, 405
4,767
2,199
2,510

31,860
12, 816
5,070
2.238
2,531

30, 181
12, 996
5,517
2, 111
2,514

30, 486
13, 542
5,993
2,110
2,553

31, 298
14, 037
6,372
2, 151
2,577

32, 913
14, 827
6,904
2,224
2,684

33, 384
15,125
7,073
2.290
2,667

33, 277
15, 240
7,258
2, 264
2, 667

33, 087
15, 138
7,228
2,259
2,646

32, 935
15, 055
7,221
2,216
2,602

32,743
14, 456
6,543
2,271
2,574

32, 527
13, 768
5,880
2,300
2,583

33, 706
14, 185
6,275
2,293
2,580

16, 245
Nondurable goods stores 9
do
3,380
Apparel group
do
3,554
Food group.
„
do
4,767
General merchandise group.. . _ do
Department stores*
.___do-_.- 2,512

17, 185
3,488
3,762
5,262
2,829

18, 666
3,999
3,800
6; 152
3,342

19, 044
4,040
3,816
6,338
3,466

17, 185
3,488
3,762
5,262
2,829

16, 944
3,371
3,716
5,218
2,743

17, 261
.3, 517
3,714
5,416
2,849

18, 086
3, 831
3, 759
5,749
3,050

18,259
3,840
3,801
5, 798
3,088

18, 037
3,769
3,743
5,724
3,047

17,949
3,690
3,743
5,709
3,011

17, 880
3,697
3, 703
5, 737
3,030

18,287 18, 759
3,994
4,208
3,676 i 3,661
6,175
5,900
3,291
3,135

19, 521
4, 282
3,831
6,589
3,584

Book value (seas, adj.), total.. „
____do
29, 383 31, 130 30, 486 30,559 31,130
Durable goods stores 9 _
do
12, 509 13, 282 12, 894 12, 874 13, 282
5,435
Automotive group
„ _ _ _ do
5,584
5, 434
5,584
5,411
2,013
2,154
Furniture and appliance group
do
2, 131
2,154
2,123
2,605
2,402
2,570
Lumber, building, hardware group. -do
2,605
2,546
'Revised.
1 Advance estimate.
9 Includes <lata not shown s eparatel y.
cfC3omprises lumber yards, building materials dealers, and paint, p umbing, and elec trical sto res.
^Revised (back to Jan. 1953) to reflect use of ne\v seasonsil factors and new adjustn ents
for trading day differences.
Revisions for period s not sh own her e appear in the July
1963 Census report, "Monthly Retail Trade Report , Adjusted Sales Supplernent."

31, 478
13, 635
5,818
2,189
2,637

31, 635
13, 799
5,905
2.222
2,632

32, 260
14, 220
6,265
2,240
2,626

32, 546
14, 440
6,442
2,270
2,592

32, 823
14, 707
6,739
2,259
2,589

33, 014
14, 692
6,825
2,268
2,579

33, 088
14, 744
6, 903
2,234
2,579

33,360
14, 965
7,135
2,276
2,561

33, 294
14, 927
7,171
2,213
2,617 i




16, 086

i 1, 825

28, 500
12, 255
5, 353
1,975
2,316

33, 045
14, 761
6,959
2,268
2,588

i 1, 290

fRe\ dsed seri 3S. Rev ised to ta ke account of berichmark data frorn the 1962, 1983, a nd 1964
Annua 1 Survey s of Ret ail Trad e; revisicms throiigh 1962 appear c n pp. 16 -19 of trle Dec.
1963 SiJRVEY arid those for Jan. ]L983-MajJ 1984 on p. 28 of the Sept 1984 Su]EI VEY ancl p . 3 o f
the Aiig. 1965 SURVEY
*Ne^v series; for earlie r periods back to Dec. 1958 see p. 32 of the .A.pr. 1984 and p. [ 5 of the
Aug. L965 SUB VEY.

SUEVEY OF CUERENT BUSINESS

S-12
Unless otherwise stated, statistics through 1962
and descriptive notes are shown in the 1963
edition of BUSINESS STATISTICS

1963

December 1965

1964

1964

Monthly
average

Oct.

Nov.

1965
Dec.

Jan.

Feb.

Mar.

Apr.

May

June

July

Aug.

Sept.

Oct.

18, 367
3,911
3,752
5, 909
3,155

Nov.

DOMESTIC TRADE—Continued
RETAIL TRADE— Continued
All retail stores— Continued
Estimated inventories, end of yr.or mo.§— Con.
Book value (seas, adj.)— Continued
Nondurable goods stores 9 _ _ __
mil. $__
Apparel group
do
Food group
do
General merchandise group
do
Department stores*
do
Firms with 4 or more stores:
Estimated sales (unadjusted) total
do
Firms with 11 or more stores :
Estimated sales ^unadi ) total 9
do

16, 874
3, 539
3,568
5,186
2,730

17, 848
3,672
3,796
5,684
3,039

17, 592
3,652
3, 722
5,517
2,944

17, 685
3,666
3,727
5,597
2,998

17, 848
3,672
3,796
5,684
3,039

17, 843
3,656
3,788
5,718
3,034

17, 836
3,667
3, 748
5,737
3,057

18, 040
3,801
3,740
5,794
3,062

18, 106
3,810
3, 749
5, 784
3, 079

18, 116
3,823
3.724
5, 782
3,072

18,322
3,872
3,732
5,906
3,156

18, 344
3,904
3,744
5,920
3,186

18, 395
3,962
3, 755
5,918
3,167

18, 284
3,966
3,676
5,879
3,122

5 813

6, 301

6,766

6,566

9,280

5,735

5,391

6,099

6, 794

6,694

6,614

6,843

6,637

6,837

4 857

5 266

5,637

5,451

7,734

4,699

4,368

4 972

5, 594

5, 507

5 446

5 641

5 450

5,631

do
do

316
30
134
88
144
104
42

345
32
146
95
158
120
46

361
36
153
90
160
127
53

367
37
161
91
155
120
54

626
67
272
147
252
123
56

263
28
106
74
149
115
36

225
22
93
65
145
111
37

290
25
124
81
162
126
46

406
36
162
124
167
132
44

349
34
147
97
169
140
48

338
33
138
96
171
144
50

304
28
130
81
177
147
47

328
26
138
88
171
148
49

366
30
152
105
175
145
50

General merchandise group 9

do

1,585

1,781
1 113

1,877
1,182

1, 868
1, 175

1,863
1,184

1,833
1 165

336

328

do

330
2,293
75
104

345

Tire battery accessory dealers

327
2,075
66
100

3,358
2, 089
675
2, 332
56
142

1,580

do
do

2,004
1,247
350
1,981
68
102

1,375

Variety stores
Grocery stores

1,930
1 210
342
2,036
92
110

1,975
1,251
340
2,138
87
104

Estimated sales (seas adj ) tota!9t

Apparel group 9
^Vomen's appsrel accessory stores
Shoe stores
Eating and drinking places
Furniture homefurnlshings stores

do
do
do

985
295
1,974

63
91

1,286

887
229

793
246

994
280

2,125

1,952

2,081

2, 2212

2,163

2,111

48
80

46
74

56
89

67
108

84
115

90
118

1, 790
1 128
328
2,374
90
117

do

5,309

5,382

5,440

5,367

5,439

5,397

5, 470

5,619

5,563

5,654

5,694

5,782

Apparel group 9
Men's and boys' wear stores
^Wo men's apparel accessory stores
Shoe stores
Drug and proprietary stores
Eating and drinking plsces
Furniture homefurnishlngs stores

do
do
do
do
do
do
do

341
33
144
90
167
123
46

349
32
149
100
160
122
47

353
32
148
100
163
122
45

355
33
151
94
159
124
49

347
34
145
92
163
127
46

333
30
143
89
169
128
46

346
36
144
93
177
134
46

352
35
146
96
174
137
47

351
33
145
96
175
138
51

358
34
150
94
183
137
49

362
34
148
97
181
139
48

369
36
155
97
185
142
51

General merchandise group 9
Dept stores, excl mall order sales
Variety s tores
Grocery stores
Lumber yards bldg materials dealersc?
Tire, battery accessory dealers

do
do
do
do
do
do

1,783
1,113

1,830
1, 147

1,819
1,145

1,897
1,223

1,870
1,180

1,867
1, 164

1, 842
1, 163

1,968
1,238

1, 883
1,171

325

344

330

344

343

325

359

351

2,113

2,110

2,174

2,133

2,117

2, 164

2,176

2,190

63
100

66
106

66
103

336
2,045
70
105

65
106

65
102

66
107

78
109

77
103

1,980
1,251
351
2,180
77
104

1,990
1, 263
357
2, 194
78
111

2,020
1,265
363
2,220
75
111

115,599 i 16 929
6,626
6 885
8, 973 10 ^44
7, 826
8 025
7, 773
8 904

15,729
6,799
8,930
7,584
8,145

15,813
6,646
9,167
7,611
8, 202

16,929
6,885
10, 044
8,025
8,904

16,401
6,627
9,774
7,703
8,698

15, 848
6,474
9,374
7,466
8,382

15, 747
6,430
9,317
7,435
8,312

16, 048
6, 520
9, 528
7, 723
8, 325

16, 509
6,732
9,777
7.996
8, 513

16,708
7,028
9,680
8,011
8,697

16, 660
7, 090
9,570
7.862
8,798

16, 521
6,995
9,526
7,716
8,805

16, 743
7,050
9,693
7,828
8,915

1 14 5-77 1 15 79§
6,456
6 696
8 121
9 102
7, 374
7 555
7,203
8 243

15, 767
6,607
9,160
7,464
8,303

15, 731
6, 528
9,203
7, 462
8, 269

15, 798
6,696
9,102
7,555
8,243

16 038
6,823
9 215
7,776
8,262

16 381
6,907
9 474
7,874
8,507

16, 249
6,784
9 465
7,794
8, 455

16 272
6, 734
9 538
7, 782
8, 490

16, 469
6,745
9 724
7,850
8,619

16 681
6,918
9 763
7,968
8,713

16 765
6,905
9 860
7,872
8,893

16, 590
6,768
9,822
7,693
8,897

16, 881
6, 854
10, 027
7,878
9,003

49
17

49
17

50
18

50
18

50
18

49
17

48
17

50
18

47
17

48
17

51
18

50
17

49
18

50
18

50
18

43
39
18

43
39
18

42
40
18

43
39
18

46
38
16

43
36
21

43
38
19

43
39
18

43
39
18

43
39
18

44
37
19

44
37
19

44
38
18

42
39
19

42
40
18

194. 03

194. 20

194. 39

194. 58

194. 80

195.02

195. 24

195. 44

All retail stores, accounts receivable, end of mo.:
Total (unadjusted)
mil $
Durable goods stores
do
Nondurable goods stores
do
Charge accounts
do
Installment accounts
do
Total (seasonally adjusted) ©
Durable goods stores
Nondurable goods stores
Charge accounts
Installment accounts

do
do
do
do
do

Department stores:
Ratio of collections to accounts receivable:
Charge accounts
percent
Installment accounts
do
Sales by type of payment:
Cash sales
percent of total sales
Charge account sales
do
Installment sales
do

EMPLOYMENT AND POPULATION
POPULATION
Population, U.S. (incl. Alaska and PTawaii):
Total, incl. armed forces overseas©.
__mil_. 2189.42 2 192. 12

192. 85

EMPLOYMENT
NToninstitutional population, est. number 14 years
of age and over, total, unadj
mil

193. 08

193. 29

193. 50

193. 68

193. 85

132. 12

134. 14

134. 77

134. 95

135. 14

135. 30

135. 47

135. 65

135. 81

135. 98

136. 16

136. 25

136. 47

136. 67

136. 86

137. 04

75, 712
72, 975
68, 809
4, 946
63, 863

76,971
74, 233
70, 357
4, 761
65, 596

77, 112
74, 375
71, 123
5,126
65, 997

76, 897
74, 166
70, 793
4,545
66, 248

76, 567
73, 841
70, 375
3,785
66, 590

75, 699
72, 992
68, 996
3,739
65, 257

76, 418
73,714
69, 496
3, 803
65, 694

76, 612
73, 909
70, 169
3,989
66, 180

77, 307
74, 6.21
71, 070
4, 473
66, 597

78, 425
75, 741
72 407
5,128
67, 278

80, 683
78, 003
73, 716
5,622
68, 094

81,150
78, 457
74, 854
5,626
69, 228

80, 163
77, 470
74, 212
5,136
69, 077

78, 044
75, 321
72, 446
4,778
67, 668

78, 713
75, 953
73, 196
4,954
68, 242

78,598
75,803
72, 837
4,128
68, 709

Unemployed (all civilian workers) _ _ _ _ _ do
4, 166
Long-term (15 weeks and over)
do
1,088
Percent of civilian labor force
5.7
Not in labor force
thous_. 56, 412

3, 876
973
5.2
57, 172

3,252
780
4.4
57, 661

3,373
759
4.5
58, 055

3,466
802
4.7
58, 568

3,996
845
5.5
59, 603

4,218
1,050
5.7
59, 051

3, 740
1,019
51
59, 039

3, 552
1, 050
4, 8
58, 504

3,335
804
4.4
57, 556

4,287
762
5.5
55, 477

3,602
587
4.6
55, 102

3,258
612
4 2
56, 310

2,875
609
38
58, 626

2,757
588
3.6
58, 149

2,966
531
3.9
58, 445

74, 259
70,379
4,721
65, 658
3,880
933

74, 409
70, 755
4,671
66, 084
3, 654
932

74, 706
71. 004
4,541
66, 463
3,702
889

74, 914
71,284
4,513
66, 771
3,630
823

75, 051
71, 304
4 595
66, 709
3,747
905

74, 944
71, 440
4,' 550
66, 890
3,504
800

75, 377
71, 717
4^843
66,874
3, 660
8(39

75, 443
71, 937
4*958
66, 979
3, 506
696

75, 676
72, 118
4, 659
67, 459
3, 558
806

76, 181
72J 766
4*674
68^ 092
3,415
659

75, 772
72, 397
4^576
67, 821
3,375
705

75, 483
72, 182
4' 405
67,' 777
3,301
736

75, 778
72,486
4,551
67, 935
3,292
703

76, 052
72, 839
4,244
68, 595
3,213
652

52
5.0

4 9
4.7

5 0
4.5

Total labor force, incl. armed forces
___thous_.
Civilian labor force, total
do
Employed, total. _ _ ___
do
Agricultural employment
____
do'
Nonagricultural emplovment
do

Civilian labor force, seasonally adjj
do
Employed, total
____
do
Agricultural employment.
do
Nonagricultural employment
do
Unemployed (all civilian workers),
do
Long-term (15 weeks and over)
do ___
Rates (percent of those in group) :
All civilian workers
Experienced wage and salary workers

5.5

5. 6

"•Revised.
1 End of year.
2 AS of July 1.
§See note marked "f" on p. S-ll.
9 Includes data not shown separately.
* New series; see corresponding note on p. S-ll.
cf Comprises lumber yards, building materials dealers, and paint plumbing, and electncal stores. fSee note marked "J" on p. S-ll.
0 Seasonally adjusted data back to Jan.
1959 are available from Bureau of the Census (Wash., D.C., 20233)




12
4.3
4.7
4 6
4.4
4. 7
4 5
4 9
4. 5
10
12
4.0
4.3
4! 5
12
4.0
4.7
12
©Revisions for May 1960-Dec. 1963 are available upon request.
JRevised monthly data ('back to Jan. 1957) appear in the "Monthly Report on the
Labor Force," Jan. 1965. U.S. Dept. of Labor, Wash., D.C., 20210.
4.8
4.5

5 0
4.6

SURVEY OF CURRENT BUSINESS

December 1965
Unless otherwise stated, statistics through 1962
and descriptive notes are shown in the 1963
edition of BUSINESS STATISTICS

1963

1964

Monthly
average

S-13
1965

1964
Oct.

Nov.

Dec.

Jan.

Feb.

Mar.

Apr.

May

Nov.1?

June

July

60,884

60 749

61, 046 '61,515 '61,757

18, 109
10, 503
7,606

18,105
10 487
7,618

18, 303 ''18, 428 '18,406 18. 393
10, 477 r 10, 608 '10, 619 10, 669
7, 826 r 7, 820 ' 7, 787 7,724

645

Aug.

Sept.*

Oct.i

EMPLOYMENT AND POPULATION—Continued
EMPLOYMENT— Continued
Employees on payrolls (nonagricultural estab.):f
Total, unadjustedf
thous
Manufacturing establishments __
Durable Roods industries-.
Nondurable goods industries.

do
__do _
do...

56 643

58, 188

59 164

59, 441

59, 938

58, 271

58, 398

58, 847

59, 545

17, 005
9 625
7,380

17, 303
9,848
7, 455

17,428
9 806
7,622

17, 638
10, 071
7, 567

17, 601
10, 093
7,508

17, 456
10, 045
7,411

17, 538
10, 101
7,437

17,643
10, 162
7,481

17,732
10, 272
7,460

17, 826
10, 339
7,487

635

644

643

635

619

616

615

623

60, 058

644

82
144
289

84
146
287

84
144
282

84
143
280

84
140
279

642

85
145
289

85
141
278

632

84
145
288

85
139
282

87
139
288

87
136
291

88
137
288

2 983
3 914
772
272

3,106
3,976

3 376
4 028

3,273
4,013

3,053
4,024

2,837
3, 880

2, 756
3,933

2,865
3,985

3,020
4,004

3,245
4,041

3,429
4, 109

741
280

748
272

3 502
4 123

912
201
685
610

do
11 803
do._
3 119
. _ do -__ 8 685
do
2,873
do
8, 230
-do-- _ 9 199

Mlning, total 9 -Metal mining
Coal mining _
_
__
Crude petroleum and natural gas

do._
do
do
do_.

635
80
148
289

Contract construction
_ ___
Transportation and public utilities?
Railroad transportation
Local and interurban passenger transit

do
do_.
do
do

Motor freignt trans, and storage
Air transportation. _
___
Telephone communication...
Electric, gas, and sanitarv services

do
do..
_do
do

755
280

747
280

748
282

949
212
702
612

984
217
708
610

980
218
710
608

975
220
710
609

12, 188
3,220
8,969
2,944
8,533
9,502

12 341
3 269
9 072
2,961
8,676
9 710

12 518
3,272
9,246
2,958
8,608
9,790

56, 643
17, 005
9 625
274
587
389
602
1,172

58, 188
17, 303
9,848
258
596
402

58, 382
17,171
q 702
247
591
407

58, 878
17, 505
9 992
245
595
409

1,226

616

618

1,253

Fabricated metal products
do
Machinery _
_ _ __
do._
Electrical equipment and supplies. __do

1 153
1 531
1,557

1,197
1,612
1,549

Transportation equipment
____do
Instruments and related products. __ .do
Miscellaneous manufacturing hid
do

1 609
365
387

758
275

'627
r
84
'136
'281

'630

83
144
278

3,606
4,137

750
255

751
259

' 3, 495 '3 460
'4,112 ' 4, 103
r
738
741
'270
271

1 030

1,030

r

61, 821

629

3,358
4,091

726
281

730
280

736
280

939
220
711
607

936
220
713
607

950
222
718
607

957
224
723
610

977
226
727
611

1 018

13, 166
3,298
9,868
2,957
8, 585
9,917

12, 275
3,254
9,021
2,949
8,515
9,740

12 209
3 252
8 957
2,960
8,564
9,822

12 262
3 260
9 002
2, 973
8,623
9 881

12 517
3,272
9,245
2,985
8,754
9,910

12 528
3 286
9,242
3,002
8,859
9 925

12 665
3 335
9 330
3,034
8,964
9 932

12 658
3 375
9 283
3,069
9,028
9 619

12 675 '12 639 '12 733 12 929
3 400 '3 307 '3 318 3 324
9,275 r 9 332 ' 9 415
9 605
3,072 ' 3, 073 ' 3, 064
3,062
9,008 ' 9, 039 ' 9, 065
9,013
9,601 '10 102 '10 296 10 346

59, 206
17, 622
10, 088
242
598
413

59, 334
17, 705
10, 150
243
597
415

59, 676
17, 772
10 210
242
604
418

59, 992
17, 849
10 259
242
608
422

59, 913
17,896
10 311
241
599
423

60,110
17, 915
10 320
245
595
423

60, 382
18, 045
10 426
247
594
424

60, 602
18,156
10 524
249
599
4.9^

g92

con

1,269

1,271

1,277

1,278

1,278

1,280

1,272

1,304

1,326

60, 685 '60,756 '60,975 61, 268
18, 158 '18,098 '18,159 18,272
10 539 '10 494 '10 520 10 599
252
'242
244
'242
598
'604
607
'601
435
r 430
r 432
421
' 622
624
628
' 622
1,312 ' 1, 308 ' 1, 287
1,289

1 179
1 644
1,560

1 213
1 643
1, 572

1,232
1,665
1,588

1 242
1 672
1,597

1 260
1 674
1,610

i 907
1 687
1,626

1 265
1 691
1,640

1 266
1 699
1,651

1 276
1 716
1,667

1 700
1,681

1,623
369
400

1 429
368
408

1 646
371
411

1,671
374
414

1,696
374
414

1 706
378
417

1 733
378
420

1 748
379
421

1 75?
378
418

1

770

1 777

391
422

1 805
389
431

r 1 771

385
421

7,455
Nondurable goods industries
......do
7,380
Food and kindred products
do
1, 730
1,744
Tobacco manufactures
do
88
88
Textile mill products
do - 897
889
Apparel and related products.
____do
1 284 1,310
630
Paper and allied products..— ._
do..—
620
Printing, publishing, and allied Ind__do
952
931
Chemicals and allied products
do
877
865
Petroleum refining and related ind___do
187
190
430
Rubber and misc. plastic products___do
.
418
354
Leather and leather products _
_ _do
351
f»OC
Mining
I.
__._
do
635
Contract construction __
_
do
3,106
2 QOO
3,976
Transportation and public utilities.. . ..do
3 914
Wholesale and retail trade
do
188
n ono 12,2,944
Finance, insurance, and real estate...
do:
2,873
Q OOA
Services and miscellaneous
do
8 533
9 502
Government
do

7,469
1,717
90

7,513
1,737
92

7,534
1,743
88

7,555
1,741
86

7,562
1,734
84

7, 590
1,735

7,585
1,712
85

7,595
1, 720

7,619
1,708

7, 632.
1,716

7,619
1, 714

641

1 009
643

650

1 357
646

' 7, 604 '7,639
' 1, 717 ' 1, 730
r 7Q
' 81
' 928
' 924
' 1 356T i 362
'643
'640

973
893
183
458
359

973
895
181
456
361

978
901
183
457
359

985
908
185
460
359

983
911
184
462
358

629
3 186
4 044
12 563
2,997
8 763
9' B^

629

630

638

3,207
4, 057
12, 636
3,005
8,797
9,864

3,220
4,068
12, 673
3,013
8,814
9,919

3, 178

13, 176

13, 254
13 321

7,619
99
518

7,674
7 644
100
533

13, 486
13 428
7,808
7 731
102
557

Wholesale and retoil trade
Wholesale trade
_
Retail trade
_• __ _.
Finance, insurance, and real estate
Services and miscellaneous
Government
__

Total, seasonally adjusted!
do
Manufacturing; establishments
__do
Durable goods industries _ __
do
Ordnance and accessories.—.
do
Lumber and wood products
do
"Furniture and
fixtures
_ _
doStone, clay, and glass products..- __ do
Primary metal industries
. ____do

616

620

909

623

914

623

899

904

1 319
634

1 329
635

1,333
634

1 344
635

1 340
637

955
878
187
433
357

956
882
185
436
357

962
885
185
438
357

964
887
184
442
358

967
890
184
450
359

con

637
3 244
4 020
12 362
2,975
8 654
9 692

633
3 235
3 939
12 447
2, 979
8 689
9 707

3
3

cqo
1 no
QQfi

3 162
3' 997

1 9 978

-jo qi i

2,964

2,970
o aoA

Production workers on mfg. payrolls, unadjusted:!
Total, unadjusted f
"-—
-thous.. 12, 558 12, 808 12, 915 13, 125 13, 082
Seasonally adjusted __,-_
_
do
12 661 19 993 13 099
Durable goods Industries, unadjusted.. do
7,030
7,238
7,190
7,454
7,471
Seasonally adjusted
...do
7 3^6
7 089
7 467
Ordnance and accessories
_— _do_..__
116
107
103
102
103
Lumber and wood products
do
533
525
543
534
521
Furniture an d fi xtures
do
323
334
347
344
346
Stone, clay, and glass products
do
484
496
511
506
489
Primary metal Industries
do
998
947
1,032
1,013
1,026
Blast furnaces, steel and rolling mills do
424
456
470
473
477
Fabricated metal products
______do
884
920
954
918
946
Machinery.
... _
do
1,059
1 121
1 132
1 159
1 130
Electrical equipment and supplies. _ do
1,040
1,037
1,092
1,075
1,086
Transportation equipment?
do
1,133
1,113
964
1, 192
1,215
Motor vehicles and equipment ... do
593
577
427
643
666
Aircraft and parts...
.
do
338
348
334
336
335
Instruments and related products
do
234
232
234
238
238
Miscellaneous mfg. industries
do
311
320
351
347
325
Nondurable goods industries, unadj
do
5,570
5,528
5,725
5,671
5,611
Seasonally adjusted
_ do
5 572
5 632
5 617
Food and kindred products
do.
1, 144
1,161
1,224
1,131
1,168
Tobacco manufactures
do
76
76
80
95
85
Textile mill products
do
802
796
809
811
813
Apparel and related products
do
1,164
1,139
1,189
1,195
1,181
Paper and allied products.
do
493
488
499
499
496
Printing, publishing, and allied Ind..do
591
603
610
612
615
Chemicals and allied products.
do
525
529
525
528
527
Petroleum refining and related ind "do""""
120
116
111
116
113
Petroleum refining
do
96
92
91
89
89
Rubber and misc. plastic products. ..do I"
322
332
342
342
343
Leather and leather products
do
309
.311
313
317
317
'Revised.
*> Preliminary.
i See note f for this
f Beginning with Sept. 1965, data for employment , hours, earnings, and labor turnover
reflect adjustments to Mar. 1964 benchmarks and are' not strictly comparable with data for




728
283

12, 941
13 168
7,421
7 518
101
502
341

917

3

981
q QQ7

2, 987

13,011
13 227
7,467
7 570
101
507
Q4.9

628

OK

Q91
1 °.47

639
971
894
184
453
361

633
3,304
12, 622
. 2,997
8, 754
9, 791
13, 108
13 298
7,523
7 615
100
511
346

624

924

1 357
641

7 A4Q

621

OF

Q99
1 3fi1

qxc

229
735
625

090

OKI

473

474

484

4QS

506

1,035
478
950
1 164
1,088
1, 223
672
336
237
306

517

1,045
483
958
1 170
1, 092
1, 222
675
330
238
315

1,053
487
941
1 191
1, 100
1,237
683
336
240
322

1,061

1,061
490
982

1, 080
502
999

1,108
1,248
686
339
240
329

1,115
1,261
694
343
238
332

1, 137
1,268
700
341
246
339

5,585

5,557

5,580

5,678

1,052
63
822
1,191
496
615
546
112
89
351
308

1,072
62
822
1,192
496

5,520
5 650
1,081
74
805
1,170
490
607
529
110
88
342
313

5,544

5

fifV7

5

4Q4

972

F

£00

1,057
70
811
1,200
490

1, 059
65
818
1, 215
494

611
532
110
88
347
317

614
540
112
89
350
318

1

1QQ

1 910

C77

615
545
112
88
352
312

233
750
628

1,113
62
831
1,217
506
618
544
115
90
355
317 '

234
751
634

13, 440
13 518
7, 763
7 814
103
559
349

523

1,074
503
988
1 212
1,134
1,241
682
351
248
332

5,677

5

704

1,166
62
821
1,174
505
619
548
117
90
350
314

1 005

236

237
742
622

'744
'630

1 283 r 1 269 ' 1 274 1 295
1 739 ' 1 736' 1 747 1 764
1,734
1,681 ' 1, 697 '1,720

78

926

12,710
3,018
8,886
9,942

1 001

'390
'428

' 1 769 1 779
'394
392
434
'431

7,673
1,749
80

930
1 359
645

'980
910
'179
'465
'354

'984
'911
'177
'469
'354

990
914
177
475
354

r 4 OR7

r ^ 1Q8
r 4 070

3 251
4* 079

MK

19' 794.

3,024

' 3, 061 ' 3, 067

3,074
9 H4ft

9,959 ' 10, 119
13, 622 '13,773 '13,747
13 521 r!3 457 r!3 500
7,741 ' 7, 887 ' 7, 895
7 825 r 7 781 '7 793
'108
106
'106
542
'550
563
' 366
' 364
356
' 511
' 519
528
1,071 ' 1, 069 ' 1, 034
454
' 484
500
994
'999 ' 1, 004
1 203 ' 1 21°' 1 214
1,148
1,180 ' 1, 201
1,165 ' 1, 270 '1,290
'696
'682
588
369
'364
356
254
254
250
'371
'365
358
5,881 ' 5, 886 5,852
5 696 ' 5 676 ' 5 707
1,251 ' 1, 266 '1,230
'86
'86
76
'835
'832
835
1, 236 ' 1, 229 '1,229
'504
'506
510
'631
626
623
'544
'547
551
'111
'113
117
'85
'86
90
'372
359
'369
'311
'312
324

13, 722
13 601
7,932
7 863
111
534
367
507
1,036

1,015
1 223
1, 214
1,302
373
256
367
5,790
5 738
1,180
74
836
1.220
506
633
543
109
84
377
313

earlier periods. Comparable data (back to 1963) for selected series are in Employment and
Earnings (Dec. 1965), GPO, Washington, D.C., 20402.
9 Includes data for industries not shown separately.

SURVEY OF CUKKENT BUSINESS

S-14
Unless otherwise stated, statistics through 1962
and descriptive notes are shown in the 1963
edition of BUSINESS STATISTICS

1963

1964

Monthly
average

December 1965
1965

1964
Oct.

Nov.

Dec.

Jan.

Feb.

Mar.

Apr.

May

June

July

Aug.

Sept.i

Oct.i

Nov.1 »

EMPLOYMENT AND POPULATION—Continued
EMPLOYMENT— Continued
Miscellaneous employment data:
Federal civilian employees (executive branch) :
United States...
thous_.
Rallroad employees (class I railroads) : ©
Total
J
do
Index, seasonally adjusted^-.— 1957-59=100-

2,328
239

2,317
244

2,299
244

2,322
245

22,452
2247

2,293
245

2,289
245

2,295
246

2,306
246

2,308
246

2,342
255

2,375
258

2,376
256

2, 341
251

2,352
251

714
77.4

683
75.8

678
76.4

671
77.0

669
77.0

644
71.3

642
71.7

644
72.4

649
73.0

'653
72.7

663
73.1

'667
'73.7

'666
'74.2

P74.2

P652
P 74. 5

124.6
117.9
90.9

134.7
124.7
93.5

155.6
125.4
98.6

142.6
129.4
97.9

133.3
132.1
96.0

120.2
129.3
93.1

115.6
130.2
91.5

123.5
132.5
91.9

149.0
134.7
98.6

157.2
137.7
100.2

163.0
136. 0
100. 1

165.6
171.7 ' 160. 7
137.1 ' 140. 3 '141.5
99.9
102.0 '97.2

141.9

40.5

40.7

2.8
41.1

3.1
41.4

40.9
40.9
3.3
41.6
41.6
3.5

41.4
41.2
3.6
42.3
42.0
4.0

40.9
41.4
3.3
41.7
42.2
3.6

40.9
41.3
3.3
41.7
42.0
3.7

41.2
41.4
3.5
42.1
42.3
3.8

40.7
40.9
3.1
41.6
41.7
3.4

41.2
41.1
3.5
42.1
41.9
3.9

41.3
41.0
3.6
42.2
41.9
4.0

41.0
40.9
3.4
41.6
41.6
3.7

41.0
40.9
3.5
41.6
41.6
3.8

41.0
'40.9
3.8
41.7
41.6
4.0

'41.4
'41.3
3.9
'42.2
' 42. 1
4.2

41.4
41.4
3.8
42.2
42.2
4.2

INDEXES OF WEEKLY PAYROLLS!
Construction (construction workers) !_1957-59= 100..
Manufacturing (production workers)!
do
M^ininjr (production workers)!
do

129.8
131.7
93.9

HOURS AND EARNINGS!
Average weekly gross hours per production worker
on payrolls of nonagric. estab., unadjusted:!
All manufacturing estab., unadj.!
__hours_Seasonally adjusted
do
Average overtime
do
Durable goods industries
_ do
Seasonally adjusted
do
Average overtime
do

2.9

3.3

40.7
40.5
3.3
41.3
41.2
3.4

Ordnance and accessories.
do
Lumber and wood products
do
Furniture a n d f i x t u r e s __
____do._Stone, clay, and ?lass products _. ___do_ __
Primary metal industries
do
Blast furnaces, steel and rolling mills .do

41.0
40.1
40.9
41.3
41.0
40.0

40.4
40.0
41.1
41. 5
41.8
41.1

40.6
40.3
42.0
42.1
41.5
41.1

40.6
39.5
41.8
41.6
41.8
41.1

41.2
39.6
42.5
41.3
42.4
41.5

41.2
39.8
40.9
40.7
42.3
41.7

41.0
39.5
41.4
40.7
42.3
41.3

41.3
40.0
41.4
41.0
42.5
41.6

41.0
40.2
40.7
41.1
44.0
45.7

41.6
41.1
41.0
42.3
42.3
41.3

41.7
40.6
41.4
42.2
42.6
41.8

42.0
40.5
40.9
42.2
42.3
42.0

41.4
41.2
42.0
42.3
41.8
41.0

'41.9
'41.0
41.7
'42.3
'41.7
'39.9

' 42. 3
'41.4
'42.2
'42.3
'40.9
38.3

43.0
41.1
42.1
42.1

Fabricated metal products
Machinery
__
Electrical equipment and supplies

41.4
41.8
40.3

41.7
42 A
40.6

41.6
41.8
40.9

42.0
42.5
41.0

42.5
43.3
41.6

41.7
42. 9
40.9

41.9
43.0
41.0

42.3
43.4
41.1

41.4
42 A
40.2

42.3
43.3
41.0

42.4
43.3
41.1

41.7
42.8
40.3

42.1
42.5
40.7

41.9
' 42. 8
40.8

'42.4
'43.3
'41.2

42.4
43.4
41.3

do
_.do
do

Transportation equipment 9
M^otor vehicles and equipment
Alrcraftand parts _
Instruments and related products
Miscellaneous mfg. industries

do____
do
do
do
do

42.1
42.8
41.5
40.8
39.6

42.0
43.0
41.1
40.8
39.6

40.9
41.1
41.1
41.1
40.1

42.3
43.1
41.3
41.4
40.0

44.0
46.3
41.5
41.6
40.3

43.1
45.1
41.3
41.1
39.5

42.7
44.4
41.0
41.2
39.8

43.2
45.1
41.3
41.3
40.0

42.2
43.6
40.7
40.3
39.2

43.1
44.6
41.5
41.6
39.7

43.0
44.5
41.7
41.7
39.8

42.0
42.9
41.6
41.2
39.3

41.3
41.6
41.5
41.4
40.1

'41.8
42.3
'41.5
'41.6
'40.0

'43.9
'45.6
42.3
'41.8
'40.6

44.0

Nondurable goods industries, unadj
Seasonally adjusted
Average overtime
Food and kindred products
Tobacco manufactures
Textile mill products
Appareland related products
Paper and allied products. .

do
do
do
do
do
do
__do
do----

39.6

39.7

2.7
40.9
38.6
40.6
36.1
42.7

2.9
40.9
38.8
41.0
35.9
42.8

40.0
39.9
3.1
41.3
40.8
41.6
36.1
43.2

39.9
40.0
3.0
41.1
38.3
41.9
36.3
42.4

40.2
40.0
3.1
41.4
40.6
42.1
36. 2
43.2

39.7
40.1
2.8
40.8
37.5
41.5
36.0
42.6

39.8
40.2
2.9
40.3
37.2
41.7
36.6
42.6

40.0
40.2
3.0
40.4
37.2
41.8
37.1
42. 9

39.4
39.8
2.7
40.1
35.6
41.0
35.6
42.1

40.0
40.0
3.1
40.9
37.2
41.6
36.5
42.9

40.1
39.8
3.1
41.1
37.8
41.9
36.6
43.2

40.1
39.8
3.1
41.8
37.6
41.3
36.5
43.0

40.3
39.9
3.2
41.4
38.0
42.0
36.9
43.3

40.2
'40.1
3.5
41.4
'39.4
'41.6
'36.2
'43.3

'40.2
'40.1
3.4
'41.4
'39.1
42.1
36.3
'43.7

40.3
40.3
3.4
41.4
38.4
42.3
36.4
43.4

Prlnting, publishing, and allied ind
do
Chemicals and allied products
do
Petroleum refining and related Ind
do
Petroleum refining .. __ _ _ _ __ do
Rubber and misc. plastic products. _ _ _ _ d o
Leather and leather products
do.— -

38.3
41.5
41.7
41.4
40.8
37.5

38.5
41.6
41.8
41.4
41.3
37.9

38.7
41.5
41.7
40.9
41.6
37.5

38.4
41.7
41.7
41.5
41.3
37.7

39.0
41.8
41.7
41.6
42.1
39.0

38.2
41.5
41.3
41.3
41.9
38.3

38.3
41.6
40.8
40.7
41.9
38.4

38.6
41.8
41.5
41.1
42.0
38.2

38.3
42.4
42 A
42.5
40.8
37.0

38.5
42.2
42.4
41.9
41.6
37.9

38.5
42.0
42.4
41.6
42.1
38.3

38.3
41.6
42.8
41.8
41.7
38.6

38.6
41.7
42.7
41.7
42.1
38.3

38.8
42.2
'43.5
'42.8
42.0
37.8

38. 6
41.8
'42.3
'41.8
42.4
'37.8

38.7
41.9
42.2
42.0
42.5
38.1

do
do
do
do

41.5
41.2
"38.8
42.1

41.7
41.6
"39.0
42.0

42.4
41.6
40.4
42.2

42.0
41.5
40.1
41.9

41.9
42.6
40.6
41.8

41.4
41.7
39.6
42.1

41.0
41.4
39.5
41.2

41.4
41.6
39.3
41.8

41.5
41.6
39.1
41.6

42.5
42.2
40.0
42.3

42.6
42.0
41.0
41.7

42 A
42.2

42.2

43.0
42.0
40.8
42.5

'42.4
'41.9
'39.1
'42.2

43.0
41.5
41.6
42.1

do
do
do
do

37.3
36.0
41.3
36.5

37.2
35.9
41.0
36.5

38.4
36.9
42.8
37.5

36.9
35.6
40.6
36.2

36.8
35.8
38.8
36.8

36.3
35.5
39.1
35.9

35.6
34.9
36.9
35.7

36.6
35.7
39.0
36.4

36.7
35.6
39.6
36.3

38.3
37.0
41.9
37.7

38.0
36.5
41.7
37.3

38.6
37.2
42.8
37.6

38.9
37.5
43.3
37.9

'37.1
'35.6
40.3
'36.5

38.4
36.7
43.0
37.4

Transportation and public utilities:
Local and suburban transportation
do
Motor freight transporation and storage-do
Telephone communication
___do
Electric, gas, and sanitary services
do
Wholesale and retail trades. ._
do
Wholesale trade _ _
do
Retail trade§
,_
do

42.1
41.6
40.0
41.2
38.6
40.6
37.8

42.0
41.7
40.1
41.2
38.4
40.7
37.4

42.0
42.3
40.8
41.6
38.2
40.7
37.2

41.9
41.6
41.3
41.2
38.0
40.9
36.9

41.6
42.2
40.4
41.4
38.6
41.1
37.6

41.3
41.1
39.9
41.3
38.0
40.6
36.9

41.4
41.3
40.1
41.2
38.0
40.5
36.9

41.4
41.6
39.4
41.0
38.0
40.7
36.8

41.6
41.2
39.8
41.3
38,1
40,6
37,1

42.5
41.8
40.1
41.3
38.1
40.9
36.9

42.6
42.5
39.9
40.9
38.4
40.9
37.3

42.4
42.5
40.6
41.1
38.9
41.0
37.9

42.6
43.1
40.4
41.1
38.8
41.0
37.8

'42.3
'43.2
' 41. 3
'41.7
'37.5
40.8
'36.5

42.5
43.1
40.8
41.6
37.4
40.9
36.3

Services and miscellaneous:
Hotels, tourist courts, and motels
do
Laundries, cleaning and dyeing plantsd*- do

39.0
39.0

38.6
38.7

38.1
39.1

37.6
38.6

37.7
38.9

37.7
38.5

37.8
38.3

37.7
38.5

37,4
39,. 4

37.1
39.5

37.0
39.2

39.2
39.0

39.3
38.7

37.7
' 38. 6

37.7
38.8

Average weekly gross earnings per production
worker on payrolls of nonagric. estab.:!
All manufacturing establishments!.
dollars-- 99.63
Durable goods industries
do
108. 50
119. 31
Ordnance and accessories.
___
do
Lumber and wood products
_do
81. 80

102. 97
112. 19
121. 60
85.60

102. 97
111. 51
123. 83
87.85

104. 70
113. 57
124. 24
84.53

106. 81
117. 17
126. 48
83.95

105. 93
115. 51
126. 48
82.78

105. 93
115. 51
125. 87
84.53

107. 12
117. 04
127. 20
86. 40

105.82
115. 65
125.46
87.23

107. 53
117. 88
128. 13
90.83

108. 21
118. 16
128. 44
90.54

107. 01
116. 06
130. 20
90.32

106. 60 107. 83
115. 23 117. 18
128. 75 '131.15
92.29 ' 90. 61

'108.88
'118.58
'131.98
' 91. 08

Nonmanufacturlng establishments:!
Mining 9
Metal mining
Coal mining
_ __
Crude petroleum and natural gas
Contract construction
General building contractors
Heavy construction
Special trade contractors

Furniture and
fixtures.
Stone, clay, and glass products.
Primary metal industries
_
Fabricated metal products
Machinery
Electrical equipment and supplies.

42.5
41.9
40.5

109.30
119. 00
134. 59
90.01

do
do
do

81.80
102. 42
124. 64

84.26
105. 83
130. 00

86.94
108. 62
129. 48

86.53
107. 33
130. 83

88.40
106. 14
133. 14

84.66
104. 19
133. 25

86.53
104. 60
133. 67

86.53
106. 19
134. 73

84.66
107. 27
140.80

85.69
110.83
134. 09

86.94
110. 99
135. 89

85.89
110.99
135. 36

89.04
89.24 ' 90. 73 90. 52
111. 67 '112.10 ' 112. 52 111. 99
132. 51 133. 44 '130.06 130. 79

_do
do
do

108. 05
116. 20
99.14

111. 76
121. 69
102. 31

110. 24
120. 38
103. 48

112. 98
122. 83
103. 73

116. 03
126. 44
106. 50

113. 42
125. 27
104. 70

114.39
125. 56
104. 96

115. 48
127. 60
105. 63

113. 44
123. 81
103. 31

116. 75
127. 74
106. 19

117. 02
127. 74
106. 45

114. 68
125. 83
104. 38

115. 78 116.48 '118.30
124. 95 '127.12 '129.47
105. 01 '106.08 '107.12

118. 72
129. 77
107. 79

Transportation equipment
do
126. 72 130. 20 125. 15 132. 82 140. 80 137. 49 135. 79 138. 24 134. 20 137. 92 137. 60 133. 56 130. 51 '135.01 '142.68 143. 44
Instruments and related products
do
101. 59 103. 63 105. 22 106.40 107. 74 ' 106. 45 107. 12 107.38 104. 38 108. 16 109. 25 107.53 108. 05 '108.58 '109.52 110.20
Miscellaneous mfg. industries
do
80.39
83.41 83.20
85.44
82.37
84.53
85.20
83. .10
84.77
84.10
85.01 '85.20 ' 86. 88 86.67
84. 56
85.17
'Revised
* Preliminary.
« Average for 11 months.
i See ! footnote, S-13.
!See corresponding note, bottom p. S-13.
9 Includes data for industries not shown
2 Includes Post Office employees hired for the Christmas season; there were about 138, 000
separately.
§Except eating and drinking places through Aug. 1965; beginning Sept. 1965
such employees in the United States in Dec. 1964.
such establishments are covered.
©Effective Jan. 1965, data reflect change in definition of class I railroads (to $5 million or
cf Beginning Jan. 1964, data relate to nonsupervisory workers and are not comparable
more annual railway operating revenues). The index (back to 1963) has been adjusted for
with the production-worker levels for earlier periods.
comparability, whereas the number of employees has not.




SURVEY OF CUERENT BUSINESS

December 1965
Unless otherwise stated, statistics through 1962
and descriptive notes are shown in the 1963
edition of BUSINESS STATISTICS

1963

1965

1964

1964

Monthly
average

S-15

Oct.

Nov.

Dec.

Jan.

Feb.

Mar.

Apr.

May

June

July

Aug.

Sept.*

Oct.*

Nov.1 v

EMPLOYMENT AND POPULATION—Continued
HOURS AND EARNINGS— Continued
Average weekly gross earnings per production
worker on payrolls of nonagric. estab.t— Con.
All manufacturing establishments!— Continued
Nondurable goods Industries
,
dollars
Food and kindred products
_ do
Tobacco manufactures
do
Textile mill products .
do
Apparel and related products
do__-

87.91
94.48
74.11
69.43
62.45

90.91
97.75
76.44
72.98
64.26

92.00
97.88
73.85
75.71
64.98

92.17
98.64
74.30
76.68
65.70

93.26
100.19
82.42
77.04
65.16

92.50
99. 55
76.88
75.95
65.16

92.73
98.74
77.75
76.73
66.61

93.60
98.98
79.61
76.91
67.52

92.20
99.05
78.32
74,62
63.72

94.00
101. 02
81.47
76. 54
65.70

94.24
101. 11
83.16
77.10
66.61

94.64
101. 57
83.10
77.23
66. 43

95.11
99.77
78.66
79.38
67.53

Paperand allied products
do___
Printing, publishing, and allied ind d o _ _ _
Chemicals and allied products
do
Petroleum refining and related ind
do
Rubber and misc. plastic products
do__.
Leather and leather products
. do

105. 90
110.69
112. 88
131.77
100. 78
66.00

109. 57
114. 35
116. 48
133. 76
104. 90
68.98

111.89
116. 10
117. 45
133. 86
106. 50
69.00

109. 82
114. 82
118.01
134. 69
105. 73
69.37

112.32
117. 39
118. 71
135.53
109.04
71.76

111. 19
114. 60
117. 86
133. 81
108. 52
71.24

111.19
115. 67
118. 14
131. 78
108. 52
71.42

111.97
116. 96
118. 29
134. 46
108. 78
71.43

109. 46
115. 67
120. 42
139. 07
104.45
69.56

112. 40
117. 04
120. 27
137. 80
107. 33
71.25

114?05
117. 43
120. 54
137. 80
109. 46
71.62

114. 38
116. 82
120. 22
139. 10
109. 25
71.80

114. 54
118. 66
119. 98
112. 41 '

118. 01
122. 72
126. 88
113. 40

122. 11
124. 38
133. 72
116. 05

121.38
124. 50
134. 34
115. 64

121.09
127.80
135.20
114.53

120. 89
124. 68
135. 83
116. 20

119.72
123. 79
135. 88
113.30

120. 47
124. 38
134. 41
114. 95

121. 18
125. 63
134. 50
115. 65

124. 95
127. 87
138. 40
118. 44

124. 82
127. 26
142. 68
115. 51

95.68 ' 95. 68
' 100. 19 100. 19
' 78. 41 ' 77. 42
' 78. 62
79.99
' 67. 33
67.52

96.32
101. 02
81.79
80.79
67.34

115. 18
118. 50
120. 93
138. 35
110. 30
72.00

116.48
120.28
123. 65
142.68
110.46
71.82

117. 12
119.27
122. 06
140. 44
112. 36
' 71. 82

116. 31
119. 58
122. 77
142.21
113.05
72.77

124. 23
128. 71
134. 46
117. 32

126. 85
128. 94
141. 98
119. 00

124.66
131. 57
135.29
116.47

127.28
130. 31
143 94
116. 62

Monmanufacturing establishments :f
Mlnlng9
.-.
IVTetal mining
Coal mining
_.
Crude petroleum and natural gas

do
do
do
do...

Contract construction __
General building contractors
Heavy construction
Special trade con tractors ... _

do
do
do
do. _

127. 19
117.36
128.03
133. 59

132. 06
122. 06
132. 02
138. 34

138. 62
127. 67
142. 52
144. 38

131. 36
122.11
129. 92
138. 28

133. 22
123.87
126.10
142.42

131. 41
121. 77
125. 12
139. 29

131.01
122. 15
122. 14
139. 23

133. 59
124. 59
125. 97
141. 96

132. 12
123. 18
125. 93
140. 48

139. 80
128. 76
138. 69
147. 41

138.70
127. 02
139.28
146. 22

140.
129.
142.
147.

50
08
52
39

143. 15
131. 25
147. 22
149.33

: 138. 75
128.52
138 63
145.27

144. 77
133.22
150. 50
149. 60

Transportation and public utilities:
Local and suburban transportation
do .
Motor freight transportation and storage .do .
Telephone communication _ _
_ do
Electric, gas, and sanitary services
do_-_

101.88
117.31
102. 40
121. 54

104. 58
122. 18
105. 06
125. 66

105. 42
124. 36
108. 12
128. 96

105.59
122. 72
109. 86
128. 54

104.83
125.76
108. 68
129. 58

104. 49
121. 25
106. 53
129. 27

104. 74
123. 49
107. 07
129. 78

105. 16
125.22
105. 20
128. 33

106. 91
123. 60
106. 66
130. 10

109. 23
128. 65
107. 87
130. 51

109.48
127. 50
107. 33
129. 24

109. 39
127. 50
108. 40
129. 88

110. 33
129. 73
108. 27
130. 29

109. 56
133.92
112.75
133.86

110.08
132. 75
111.38
134. 37

77.59
99.47
68.04

79.87
102.56
69.94

80.22
103. 38
70.31

79.80
104. 70
69.74

79.90
104.81
70.31

80.56
103.94
70.85

80.94
104. 09
70.85

80.94
105. 01
70.66

81.15
104.75
71.60

82.30
106. 75
71.96

82.56
106. 34
72.74

84.02
106. 60
74.28

83.81
106. 60
73.71

77.42
'77.25
106. 90 107. 98
' 67. 53 67.52

74.97
96.21

76.67
92.12

77.21
92.60

77.58
93.23

77.58
93.04

78.54
94.27

79.08
94.73

78.70
94.18

79.24
95. 08

78.86
95.39

78.44
94.84

79.24
95.49

79.45
95.39

' 79. 18
' 95. 86

47. 58
51.87

48.64
55.73

49. 53
57.48

49.26
56.36

50.14
57.18

49.76
56.60

49.52
56.30

49.76
56.98

48.99
59.10

50.09
60.04

48.47
59. 58

49.78
59.28

49.91
58.82

' 51. 65 52.03
60.14
' 59. 06

2.46
2.37
2.64
2.54

2.53
2.44
2.71
2.61

2.53
2.43
2.70
2.59

2.56
2.46
2.73
2.62

2.58
2.48
2.77
2.64

2.59
2.49
2.77
2.66

2.59
2.49
2.77
2.66

2.60
2.49
2.78
2.66

2.60
2.51
2.78
2.67

2.61
2.50
2.80
2.67

2.62
2.51
2.80
2.67

2.61
2.51
2.79
2.67

2.60
2.49
2.77
2.65

2.63
'2.51
2.81
'2.68

'2.63
2.52
'2.81
'2.68

2.64
2.53
2.82
2.69

Ordnance and accessories
do
Lumber and wood products...
do___.
Furniture and
fixtures.
_
do
Stone, clay, and glass products .
do
Primary metal industries
do
Blast furnaces, steel and rolling mills.do

2.91
2.04
2.00
2.48
3.04
3.36

3.01
2.14
2.05
2.55
3.11
3.41

3.05
2.18
2.07
2.58
3.12
3.43

3. 06
2.14
2.07
2.58
3.13
3.42

3.07
2.12
2.08
2.57
3.14
3.43

3.07
2.08
2.07
2.56
3.15
3.44

3.07
2.14
2.09

3.06
2.17
2.08
2. 61
3^20
3.48

3.08
2.21
2.09
2.62
3.17
3.43

3.08
2.23
2.10
2.63
3.19
3.46

3.10
2.23
2.10
3.' 20
3.47

3.11
2.24
2.12
2.64
3.17
3.43

'3.13
'2.21
2.14

316
3.44

3.08
2.16
2.09
2.59
3.17
3.45

3.' 20
3.49

3.12
'2.20
2.15
'2.66
' 3. 18
3.47

3.13
2.19
2.15
2.66
3.19

Fabricated metal products
._ do
Machinery.. .
do
Electrical equipment and supplies
do. _
Transportation equipment? _
do
Motor vehicles and equipment
do. _
Aircraft and parts do
Instruments and related products .. do
Miscellaneous mfg. Industries
do

2.61
2.78
2.46
3.01
3.10
2.95
2.49
2.03

2.68
2.87
2.52
3.10
3.21
3.05
2.54
2.08

2.65
2.88
2.53
3.06
3.12
3.09
2.56
2.08

2.69
2.89
2.53
3.14
3.23
3.09
2.57
2.08

2.73
2.92
2.56
3.20
3.32
3.11
2.59
2.12

2.72
2.92
2.56
3.19
3.31
3.11
2.59
2.14

2.73
2.92
2.56
3.18
3.30
3.10
2.60
2.13

2.73
2.94
2.57
3.20
3.33
3.11
2.60
2.13

2.74
2.92
2.57
3.18
3.31
3.10
2.59
2.12

2.76
2. 95
2.' 59
3.20
3. 32
3.13
2.60
2.13

2.76
2.95
2.59
3.20
3.32
3.12
2.62
2.14

2.75
2.94
2.59
3.18
3.29
3.12
2.61
2.14

2.75
2.94
2.58
3.16
3.28
3.13
2.61
2.12

2.78
2.97
'2.60
'3.23
3.36
'3.15
'2.61
2.13

'2.79
2.99
'2.60
3.25
3.37
'3.18
2.62
2.14

2.80
2.99
2.61
3.26
3.19
2.63
2.14

do
do
do
do
do
do
do

2.22
2.15
2.31
1.92
1.71
1.73
2.48

2.29
2.21
2.39
1.97
1.78
1.79
2.56

2.30
2.22
2.37
1.81
1.82
1.80
2.59

2.31
2.23
2.40
1.94
1.83
1.81
2.59

2.32
2.24
2.42
2.03
1.83
1.80
2.60

2.33
2.25
2.44
2.05
1.83
1.81
2.61

2.33
2.25
2.45
2.09
1.84
1.82
2.61

2.34
2.25
2.45
2.14
1.84
1.82
2.61

2.34
2.26
2.47
2.20
1.82
1.79
2.60

2.35
2.26
2.47
2.19
1.84
1.80
2.62

2.35
2.26
2. 46
2. 20
1.84
1.82
2.64

2.36
2.27
2.43
2.21
1.87
1.82
2.66

2.36
2.27
2.41
2.07
1.89
1.83
2.66

2.38
'2.28
'2.42
'1.99
'1.89
1.86
2.69

2.38
2.28
'2.42
' 1. 98
1.90
1.86
'2.68

2.39
2.29
2.44
2.13
1.91
1.85
2.68

Printing, publishing, and allied ind
do
Chemicals and allied products
do
Petroleum refining and related Ind
do
Petroleum refining
do
Rubber and misc. plastic products__-_.do
Leather and leather products
do

2.89
2.72
3.16
3.32
2.47
1.76

2.97
2.80
3.20
3.37
2.54
1.82

3.00
2.83
3.21
3.38
2.56
1.84

2.99
2.83
3.23
3.41
2.56
1.84

3.01
2.84
3.25
3.41
2.59
1.84

3.00
2.84
3.24
3.40
2.59
1.86

3.02
2.84
3.23
3.39
2.59
1.86

3.03
2.83
3.24
3.41
2.59
1.87

3.02
2.84
3.28
3.46
2.56
1.88

3.04
2.85
3.25
3.43
2.58
1.88

3.05
2.87
3.25
3.45
2.60
1.87

3.05
2.89
3.25
3.45
2.62
1.86

3.07
2.90
3.24
3.43
2.62
1.88

'3.10
'2.93
'3.28
3.48
'2.63
1.90

3.09
'2.92
'3.32
'3.53
'2.65
1.90

3.09
2.93
3.37
3.57
2.66
1.91

2.76
2.88
«3.12
2.67
3.41
3.26
3.10
3.66

2.83
2.95
°3.26
2.70
3.55
3.40
3.22
3.79

2.88
2.99
3.31
2.75
3.61
3.46
3.33
3.85

2.89
3.00
3.35
2.76
3.56
3.43
3.20
3.82

2.89
3.00
3.33
2.74
3.62
3.46
3.25
3.87

2.92
2.99
3.43
2.76
3.62
3.43
3.20
3.88

2.92
2.99
3.44
2.75
3.68
3.50
3.31
3.90

2.91
2.99
3.42
2.75
3.65
3.49
3.23
3.90

2.92
3.02
3.44
2.78
3.60
3.46
3.18
3.87

2.94
3.03
3.46
2.80
3.65
3.48
3.31
3.91

2.93
3.03
3.48
2.77
3.65
3.48
3.34
3.92

2.78
3.64
3.47
3.33
3.92

2.95
3.07
3.48
2.80
3.68
3.50
3.40
3.94

'2.94
' 3. 14
3.46
'2.76
'3.74
'3.61
' 3. 44
'3.98

2.96
3.14
3.46
2.77
3.77
3.63
3.50
4.00

2.42
2.82
2.56
2.95

2.49
2.93
2.62
3.05

2.51
2.94
2.65
3.10

2.52
2.95
2.66
3.12

2.52
2.98
2.69
3.13

2.53
2.95
2.67
3.13

2.53
2.99
2.67
3.15

2.54
3.01
2.67
3.13

2.57
3.00
2.68
3.15

2.57
3.03
2.69
3.16

2.57
3.00
2.69
3.16

2.58
3.00
2.67
3.16

2.59
3.01
2.68
3.17

2.59
'3.10
2.73
'3.21

2.59
3.08
2.73
3.23

Wholesale-a-nd retail trade§
do
2.10
2.01
2.10
2.07
2.08
Wholesale tratle
"do
2.52
2.45
2.54
2.56
2.55
Retail trade§
do
1.80
1.87
1.89
1.89
.1.87
Services and miscellaneous:
Hotels, tourist courts, and motels. _ _ _ _ _ d o
1.22
1.33
1.31
1.26
1.30
Laundries, cleaning and dyeing plants Ado
1.33
1.47
1.44
1.46
1.47
T
Revised. » Preliminary. ° Average for 11 months.
iSee f footnote S-13. tSee
corresponding note, bottom p. S-13. 9 Includes dat? for ind ustries riot show 11 separa tely.
§ Except eating and drinking places through Aug. 1965; beg inning S ept. 196,5 such e stablishments are covered.
0 Effective Jan. 1964, date exclude earnings of nono Bftce sales men
and are not comparable with earlier figures.

2.12
2.56
1. 92

2.13
2.57
1.92

2.13
2.58
1.92

2.13
2.58
1.93

2.16
2.61
1. 95

2.15
2. 60
1.95

2.16
2.60
1.96

2.16
2.60
1.95

'2.06
2.62

2.07
2.64
1.86

Wholesale and retail trade§
Wholesale trade
_
Retail trade§

_.

do
do
do

Finance, insurance, and real estate:
Banking
_ _
do
Insurance carriers©
do
Services and miscellaneous:
Hotels, tourist courts, and motels
do... .
Laundries, cleaning and dyeing plants Ado
Average hourly gross earnings per production
worker on payrolls of nonagric. estab.:t
All manufacturing establishments!
..dollars
Excluding overtimed 1 -- do
Durable eoods industries31
do
Excluding overtimed
do

Nondurable goods industries
Excluding overtimed1 ._ .
Food and kindred products. _
Tobacco manufactures. . . .
Textile mill products
__
Apparel and related products
Paper and allied products

Nonmanufacturing establishments:!
Mining9
Metal mining
...
Coal mining
Crude petroleum and natural gas
Contract construction
General building contractors
Heavy construction
_
Special trade contractors

do
do
do
do
do
do
do
do

Transportation and public utilities:
Local and suburban transportation
do
Motor freight transportation and storage. do
Telephone communication
—_~do_III
- -^Electric, gas, and sanitary services
do_I~~




1.32
1.47

3! 05

80.35
95.86

1.31
1.32
1.31
1.38
1.27
'1.37
1.35
1.27
1.31
1.50
1.47
1.48
1.52
1.55
1.52
1.52
1.53
1.52
cTDc rived by assumin g that ov ertime h ours are ]Daid at th e rate of time and one-half AEffective Jan. 196 4, data relate to nonsupe rvisory ^workers snid are rlot comp arable w ith the
produtjtion-wor ker leve' s for earller periocIs.

SUEVEY OF CUEEENT BUSINESS

S-16
Unless otherwise stated, statistics through 1962
and descriptive notes are shown in the 1963
edition of BUSINESS STATISTICS

1963

1964

| 1964

Monthly
average

December 1965

Oct.

1965

Nov.

Dec.

Jan.

Feb.

Mar.

Apr.

June

July

3.355
4.886

3.414
4.969

3.482
5.002

3.014

2.994

3. 453
4.992
1 17
3. 000

May

Aug.

Sept.

Oct.

Nov.

EMPLOYMENT AND POPULATION—Continued
HOURS AND EARNINGS-Continiied
Miscellaneous wages:
Construction wages, 20 cities (ENR):§
Common labor
_
_
$ per hr__
Skilled labor
do
Farm without board or rm 1st of mo
do
Railroad wages (average class I)
do
Road-building com labor (qtrly )
do
LABOR CONDITIONS
Help-wanted advertising, seas, adj t-1957-59= 100- .
Labor turnover in manufacturing estab.:f
Accession rate, total__mo. rate per 100 employees..

3. 242
4.733
i 1. 08
2.850

3.082
4. 526
1. 05
2.823
*2 38
1

3. 300
4.812
1.01
2.808

3.305
4.815

3.307
4.823

2.856

2.901

3,307
4. 829
1. 19
2.995

3.339
4.851

3. 339
4.852

3.035

2.970

3.342
4. 856
1 18
2.989

3.486
5.029

2.994

3.486
5. 056
1.09

109

123

127

134

137

137

145

148

143

145

146

145

152

160

3.9

4.0

4.0
4.0
2.8
4.2
3.9
1.7
1.8
1.7

3.2
4.1
2.2
3.6
3.6
1.2
1.7
1.5

2.6
4.1
1.6
3.7
3.8
1.0
2.1
1.6

3.8
4.0
2.4
3.7
3.6
1.3
1.6
1.4

3.5
4.1
2.4
3.1
3.6
1.3
1.2
1.3

4.0
4.3
2.8
3.4
3.8
1.5
1.2
1.3

3.8
3.9
2.6
3.7
4.1
1.7
1.3
1.5

4.1
4.0
2.9
3.6
3.9
1.7
1.1
1.4

5.6

4.5

5.4

'5.5

M.3

4.3
3.6

3.1
4.3

3.9
5.1

•-4.0
'5.7

1.7
1.1
1.4

1.8
1.8
1.7

2.6
1.6
1.6

'3.5
'1. 3
"-1.3

P3.3
p4.2
*3.9
*2.1
*1.3
fl.2

146
42

260
107

200
53

350
191

340
128

420
111

450
262

380
138

380
92

280
131

320
96

346
149
1,060

390
188
1,790

340
153
1, 450

500
234
1,760

500
175
1,630

580
174
1, 770

670
332
2,520

620
303
3, 630

630
222
2, 290

515
224
1,950

560
200
1,840

418

421

491

555

573

610

554

1, 837 2 1, 570 2 1, 259

21,131

2.6
2.4
New hires
do
3.9
3.9
Separation rate, total.
. do
Seasonally adjusted
do_
1.5
1.4
Quit
do
1.7
1.8
Layoff
do
Seasonally adjusted
•
do
Industrial disputes (strikes and lockouts) :
Beginning In month:
305
346
238
280
Work stoDpages
number
141
214
137
78
Workers involved
thous
In effect during month:
584
469
Work stoppages
number
274
549
Workers involved
thous
1,730
1,908
6, 590
Man-days idle during month
_ d o _ _ _ - 1,340
EMPLOYMENT SERVICE AND UNEMPLOYMENT INSURANCE
508
523
579
r^Tonfarm placements
thous
548
Unemployment Insurance programs:
Insured unemployment, all programs
do
2 1, 939 2 1, 725 2 1, 232 2 1, 397
State programs:
1,185
1, 162
966
Initial claims
do
1, 285
1,293
1,605
1,138
Insured unemployment weekly avg
do
1,806
Percent of covered employment:*^1
3.0
2.6
Unadjusted
4.3
3.8
3.4
Seasonally adjusted©
3.5
969
1,373
908
Beneficiaries weekly average
thous
1,541
143.2
147.0
210.2
Benefits paid
mil. $
231. 2
Federal employees, insured unemployment
27
25
30
thous__
31
Veterans' program (U OX) :
Initial claims
_
do
27
29
25
28
Insured unemployment, weekly avg__.do
40
51
35
55
34
Beneficiaries, weekly average
do
52
48
31
Benefits paid
mil $
7.5
5.4
5.0
7.6
Railroad program:
Applications
thous
11
11
*13
13
Insured unemployment, weekly avg. _ -do
47
37
*38
33
*6.5
Benefits paid
mil $
5.6
8.3
5.6

433
2

1, 792

22,132 2 2, 065

2

603

644

2 1, 210 2 1, 178

2 1, 030

' 168

3.486
5.041

p 180

611

2982 _ _ _ _ _ _ _ _

1,618
1, 675

1,453
1,996

1,100
1,932

1,009
1,718

956
1,470

763
1,179

870
1, 059

1, 078
1,132

976
1,102

760
959

791
916

3.9
3. 6
1,283
211.4

4.6
3.4
1,667
252.1

4.5
3.3
1,689
245.7

4.0
3.2
1,631
273.4

3.4
3.2
1,373
224.9

2.7
3.0
1,060
165. 7

2.4
3.0
941
156.3

2.6
3.0
932
149. 5

2.5
3.1
901
148.0

2.2
2.9
834
138.6

2.0
2.7
745
117. 8

30

34

34

31

27

22

20

22

21

19

?0

32
48
41
6.9

30
55
52
8.0

25
53
52
7.6

26
49
48
8.0

21
41
41
6.8

17
33
34
5.3

22
30
30
5.2

26
33
27
4.5

25
33
31
5.2

19
28
27
4.6

16
24
24
3.7

12
40
7.3

16
47
7.8

6
45
7.4

6
39
8.0

5
33
6.2

5
26
4.3

19
21
3.8

30
24
3.5

10
22
3.8

11
24
3.7

22

3 232

3 325

FINANCE
BANKING
Open market paper outstanding, end of mo.:
Bankers' acceptancesmil $
Commercial and finance co paper total
do
Placed through dealers
do
Placed directly (finance paper)
do

3 2 890 3 3 385
3 6* 747 3 o 361
3 i 928 3 2 223
3
4 819 3 6 138

Agricultural loans and discounts outstanding of
agencies supervised by the Farm Credit Adm.:
Total, end of mo_
mil $ 8 6 403 3 7 104
Farm mortgage loans :
Federal land banks _•_ _
do
33 310 3 33 718
Loans to cooperatives
do
958
«840
3
Other loans and discounts
do
2 253 3 2 428
Bank debits to demand deposit accounts, except
interbank and U.S. Government accounts,
annual rates, seasonally adjusted: A
Total (225 SMSA's)
bil. $
New York SMSA
do
Total 224 SMSA's (except N.Y.) _ _ _ _ _ _ _ do
6 other leading SMSA's f
do
218 other SMSA's
do
Federal Reserve banks, condition, end of mo.:
Assets, total 9
—.
---.-...mil. $

3 222
9 343
2 431
6 912

3 217
9 146
2 438
6 708

3 385
8 361
2 223
6 138

7 092

7 057

7 104

3 652
924
2 516

4
4621 4
4
1,925 3
4
2, 696 1
4
1 030 8
4

4 698 2
1 926 7
2, 771. 5
1 060 6
1 665 3 1 710 9

3 58,028

3

62, 867

59, 643

3 680
975
2 402

3 718
958
2 428

8 090

9 floq

2 239
6 794

2 070
7 007

3 384
9 5337
2 04
7 486

3 467
9 934
l' 976
7 958

3 355
9 370
1 965
7 405

3 337
10 439
2 046
8 393

3,299
10 358
2 117
8 241

3, 314
9 692
2,194
7,498

3,310
10 554
2, 250
8,304

7 223

7 356

7 472

7 607

7 729

7 873

7,988

8,040

8, 013

8, 007

8,022
4,245
1,082
2,696

5, 408. 3
2, 229. 4
3,178.9
1,215.0
1.963.9

3 276
2 143
6 785

3 765
1,020
2 438

4648 0
1 917 7
2,730 3
1 023 7
1 706 6

4 816 5 48709 4 842 5
2 013 0 2067 6 1 997 4
2,803 5 2,803 3 2 845 1
1 065 4 1 065 5 1 077 2
1 738 1 1 737 8 1 767 9

61, 561

62, 867

60 729

3 889
1,007
2 576

3 950
978
2 679

995 6
071 8
923 8
115 4
808 4

5 113 3
2 151 3
2*962 0
1 131 7
l' 830 3

60, 573

61 688

3 818
1,037
2 501

60, 769

4
2
2
1
1

4,097
935
2, 956

4,135
944
2,962

4, 171
940
2, 902

4,204
1,009
2, 794

4 825 6 5 327 8 5 302.6
1 954 1 2 308 4 2,281.6
2 871 5 3 019 4 3, 021. 0
1 082 7 1 146 8 1 149. 5
1 788 8 1 872 6 1,871.5

5, 146. 8
2, 128. 0
3, 018. 8
1 141 0
1,877.8

5,126.9
2, 104. 3
3, 022. 6
1,142.9
1, 879. 7

5, 129. 9
2,061.0
3, 068. 9
1, 165. 4
1,903.5

61,914

61, 429

63,384

63, 504

64, 050

4 Oil
940
2 778

61, 475

4 058
931
2 884

62, 632

39, 930
186
37, 044
15 075

38, 737
304
36,741
14 906

39, 422
300
36, 907
14, 661

38,972
124
37, 591
14 293

40, 071
568
37, 754
14 144

41, 169
545
38, 686
14 023

41, 159
657
39, 100
13 670

41,166
536
39, 207
13, 591

40, 619
237
39, 049
13, 596

41, 704
174
39, 774
13, 587

41, 905
510
39, 657
13, 582

42, 789
365
40, 575
13, 512

do
» 58 028 3 62 867 59 643 61 561 62 867
3
do
18 391 3 19 456 18 884 19 523 19 456
___do__ 3 17,049 3 18' 086 17,883 18, 084 18, 086
do.... 3 32,877 335,343 33, 852 34, 640 35, 343
Ratio of gold certificate reserves to FR note
liabilities O
_____percent__ 346.3 3 42. 7
44.9
43.6
42.7
' Revised.
r> Preliminary.
1 Quarterly average.
2 Excludes persons under extended
duration provisions (thous.): 1964-Oct., 32; Nov., 20; Dec., 9; 1965-Jan., 4; Feb., 2- Mar
4
3 End of year
Amiiial2totMiay' 57' JUne' 61; July' 44' Augl ' 40; Sept'' 38; 0cL' 3L
'
''
§ Wages as of Dec. 1, 1065: Common labor, $3.495; skilled Hbor, $5.055.
tRevised back to 1951 to incorporate adjustments as follows: Enlargement of sample;
updated seasonal factors; new weights for component indexes based on labor force in cities
covered; and shift of index base to 1957-59=100. Monthly data (1948-62) appear on p. 24 of

60 729

60 769

60 573

61 688

61 475

62 632

61 914

61 429

63, 384

63, 504

64, 050

19 557
18, 259
34, 662

19 625
18, 006
34, 974

19 278
18, 229
35,444

1Q 304
18, 008
35, 796

18 645
17, 191
36, 021

19, 591
18, 149
36, 319

19,612
18,204
36, 628

19, 163
18, 050
37, 408

Reserve bank credit outstanding, total 9 .do
3 36,418 339,930
Discounts and advances
.do
363
3186
U.S. Government securities__do"" 3» 33,593 337,044
Gold certificate reserves—
do
15,237 3 15, 075
Liabilities, total 9

Deposits, total 9
Member-bank reserve balances
Federal Reserve notes In circulation




37,900
415
35. 709
15, 185

39, 302
210
36, 774
15 091

19 091
17, 801
34, 646

19 255
17,903
34, 562

18 502
17,277
34, 629

36.1
37.1
37.4
38.0
37.7
40.1
38.6
41.3
42.4
43.0
40.8
the Mar. 1964 SURVEY, f See corresponding note, bottom p. S-13.
cflnsured unemployment as % of average covered employment in a 12-month period.
©Revisions back to 1959 are available.
.^.
A Revised series; data prior to 1964 not available. Total SMSA's include some cities and
counties not designated as SMSA's.
tlncludes Boston, Philadelphia, Chicago, Detroit, San Francisco-Oakland, and Los
Angeles-Long Beach.
9 Includes data not shown separately.
©Revised series.

SUEVEY OF CUEEENT BUSINESS

December 1965
1963

Unless otherwise stated, statistics throngli 1962
and descriptive notes are shown in the 1963
edition of BUSINESS STATISTICS

1964

1964

End of year

S-17

Oct.

Nov.

1965
Jan,

Dec.

Feb.

Mar.

Apr.

May

June

July

Aug.

Sept.

Oct.

Nov.

FINANCE—Continued
BANKING— Continued
All member banks of Federal Reserve System,
averages of dallyfigures:
Reserves held, total
__mil. $ 11 20, 746 i 21,609
20,1 210 1 21,198
Required
.
do
Excess
do
536 1411
1327
1243
Borrowings from Federal Reserve banks. -.do...
1209
* 168
Free reserves
do
Weekly reporting member banks of Fed. Res. System
condition, Wed. nearest end of yr. or mo.:
Deposits:
67, 844 68,045
Demand ad justed cf
-.mil. $
104 335 102, 574
Demand total 9
do
Individuals, partnerships, and corp.._-do___. 74, 513 73, 654
State and local Governments __
do
5,338 5,239
4,556 4, 563
U S Government
- do
Domestic commercial bariks •_
_- do_13,320 12, 539
59, 227 66, 881
Time, total 9
--_- do
Individuals , partnerships, and corp.:
38 083 40, 698
Savings
- do__
Other time
-do__ . 13 310 16 407
Loans (adjusted) totalcf1
do
92 901 102 227
Commercial and Industrial
-.do
38, 793 42, 119
6,677
For purchasing or carrying securities
_do___. 6,621
9,032
To nonbank financial institutions
do
8,595
Real estate loans
do
17 880 20, 008
Other loans
- do
23 809 29, 156
Investments total
- . - do
48 404 48, 783
TJ.S. Government securities, total
'do__
29 018 27, 679
Notes and bonds
-- -- do_
23 127 21, 979
Other securities
do
19 386 21, 104
Commercial bank credit (last Wed. of mo., except
for June 30 and Dec. 31 call dates) , seas.adjusted:|
267.2
Total loans and investments©
bil $
246 5
167.1
LoansO
do
149 4
61.4
U S Government securities
do
62 1
Other securities.
._._
„
__.._._do___.
38.7
35 0
Money and interest rates :§
Bank rates on short-term business loans:
In 19 cities
percent
New York City
• do
7 other northern and eastern cities
do
1 1 southern and western cities
do
Discount rate, end of year or month (N.Y.F.R.
Bank)
percent
Federal intermediate credit bank loans— ...do
Federal land bank loans do
Home mortgage rates (conventional 1st mortgages) : *
New home purchase (U.S. avg.)
...percent
Existing home purchase (U.S e avg.)_>___»do___
Open market rates, New York City:
Bankers' acceptances (prime, 90 days). ..do...
Commercial paper (prime. 4-6months)_.do__..
Finance Co. paper placed directly, 3-6 mo_ do
Stock Exchange call loans, going rate ..do
Yield on U.S. Government securities (taxable):
3-month bills (rate on new issue). ...percent-.
3-5 year issues
_ _ _ _ _ „ _ _ _ . „ _ _ _ . do...
Savings deposits, balance to credit of depositors:
U S postal savings f

-

do

2
4
24
25
25

2 ^ ft1
2 4 7Q
2 *) 01
2

5 30

3 50
34.26
3
5 49

9 q

Of«

23.55
83.40
33.157
33 72

3

21,609
21,198
411
243
168

21,619
21,217
402
299
103

21, 227
20, 790
437
405
32

21, 248
20, 908
340
416
-76

21, 505 21, 476
21, 146 21, 149
327
359
505
471
-178
-112

21, 709
21,366
343
528
-185

21, 865
21, 516
349
524
-175

21, 620
21, 192
428
564
-136

9
1 729 r21 959
21 356 r21r 618
373
341
490
528
— 155 r —149

64, 999
94, 544
68, 627
5,035
3,389
11, 699
65, 478

64, 607 68,045
97. 707 102,574
69, 515 73,654
5,239
5, 333
4,563
4, 364
12. 548 12,539
65, 670 66, 881

64,992
96,059
68,515
5,396
3,643
11,948
69,234

63,507
96, 238
68, 127
5,423
4,036
12, 327
70, 341

63,377
99, 178
67, 642
5,570
5,988
12, 662
71, 140

64,744 62, 611 63,810
96, 133 97, 845 103, 551
68, 572 67, 525 69, 652
5,410
5,270 \ 5,545
6,384 8,664
5,266
10, 965 12, 046 12, 401
72, 081 72, 996 73, 818

64, 179
94, 579
68,102
4,900
5,022
10, 862
74, 760

63, 505
96, 101
68, 189
5,105
3,914
12, 566
75, 896

64 133
97 048
68,280
4,940
'5, 591
12, 075
76, 276

40, 061
16, 464
96, 545
39, 882
5,863
8,030
19, 719
27, 267
47, 818
26, 928
21, 655
20, 890

40, 312
16, 237
98, 992
40, 999
5, 865
«,431
19, 909,
28, 355
48, 005
27, 256
22. 103
20, 749

40, 698
16, 407
102, 227
42, 119
6,677
9,032
20, 008
29, 156
48,783
27, 679
21, 979
21, 104

41,334
17,961
101,060
42,239
6,368
8,331
20,074
28,517
48', 145
26,516
21,508
21,629

261. 1
163.2
60.0
37.9

265.5
165.4
61.6
38.5

267.2
167.1
61.4
38.7

r

21 957
21 589
368
452
—84

65 012
rioo 028
'71,348
T
5 572
r
2 442
r
!3 692
r
77 170

66 175
101 204
72, 127
5 429
3 789
12 977
77 662

41, 744 42, 323 42, 149 42, 538 43, 129 43, 429 43, 827 44, 319 r 44 805
18, 359 18, 456 19, 051 19, 679 20, 130 20, 542 20,990 21, 003 r21 342
102, 301 104, 817 105, 229 107, 454 110, 925 108,551 111,071 111 755 rl!2 727
43, 343 44, 620 4"4, 597 45, 270 46, 847 46,282 46, 987 48, 117 '48,778
6,151
6,449
7,418
5, 712
6,573 6,803
6,224
5,453
5,587
9,289
8,404
8,897 8, 703
9,484 10, 289 10, 154 10, 058
9,830
20, 188 20, 326 20, 555 20, 848 21, 151 21, 368 21, 739 22 012 22 231
28, 860 28, 906 29, 975 30, 475 29, 324 30,226 30, 113 30 553 r30 506
47, 931 47, 150 47,440 46, 707 47, 514 47, 244 4.7, 086 47 023 47 769
•25, 963 24, 965 24, 512 24, 026 24, 254 23, 667 22, 992 22,830 23 991
21, 354 21, 159 20, 843 20, 823 20, 619 20, 677 20, 322 20 202 19 948
21, 968 22, 185 22, 928 22, 681 23, 260 23, 577 24, 094 24, 193 23 778

45 094
21 511
114 741
49, 167
6,482
10, 319
22 425
31 245
47 790
24 119
19 550
23 671

269.6 • 272.1
170.2
171.9
60.2
59.9
39.5
40.0

275.5
175.8
59.6
40.1

277.3 ' 279. 4 ' 282. 8
177.1 * r 179. 5. ' r183. 0
58.6
59.1
57. 7
41.1
41.3 '42.1

4.97
4.74
5.00
5.27

5.00
4.77
5.03
5.31

281.5 r 286. 1 r 282 2
* 182. 7
185.8
186 2
' 56. 4' r 57.0 r 56 5
M2.4 '43.3 r 43 5

4 99
^4 74
5 01
5.31

288 9
188 0
57 o
43 9

291 5
189 8
57 6
44.1

S on
4 7A

5 03
5 31

4 00
4. 70
3 5 45

3. 50
4.74
5.45

4 00
4.76
5 45

4.00
4.74
5.45

4.00
4.78
5.45

4.00
4.84
5.43

4.00
4.82
5.43

4.00
4.88
5.43

4.00
4.93
5.43

4.00
4.99
5.43

4.00
4.98
5.43

4 00
4.98
5.43

4 oo
5.02
5 43

4 fin
5.01
5 43

a 4 00

3
B
s

78
5 93

5.75
5.91

5 75
5 94

5.76
5.92

5.79
5.95

5.79
5.93

5.72
5.91

5.74
, 5.89

5.77
5.88

5.76
5.86

5.77
5.86

5.76
5.86

5 75
5 89

5 75
5 87

5 80
5 91

3
3
3

3 77
3. 97
3. 83
3 4 50

3.75
4.00
3.91
4.50

3 79
4.02
3.89
4 50

4.00
'. 4. 17
3.98
4.50

4.00
4.25
4.05
4.50

4.10
4.27
4.12
4.50

4.15
4.38
4.25
4.50

4.19
4.38
4.25
4 55

4.25
4.38
4.25
4.75

4 25
4.38
4.25
4 75

4 22
4.38
4.25
4 75

4 14
4.38
4.25
4 75

4 9K
4.38
4.25

4 9K
4t38
4.32
7c

4 25
4.38
4.38
4 75

3.836
4 19

3.912
4.24

4. 032
4.33

4.082
4.46

9O 4Q8

29 785
327

29 845
321

317

81 924
64 846
27 ^55
1*) 954
3 613
17 724

82 569
65, 368
27, 766
16 214
3 625
17, 763

3. 549
3 4 06

eye CQO

• 452

21,159
20,763
396
430
-34

99
75
02
30

3

88 5 84
5 98

21,033
20,618
415
309
106

390

3. 575
4.04

3.624
4 04

3.856
4.07

3.828

97 71^?

97 SCW

9Q 9AA

397

393

390

28 482
385

•7O QOQ

74. ^71

4. 06 r

X

3.9 29
4 08

3.942
4 12

3.932
4 12

98 Q!^

3.810
4 09

3.831
4 10

342

338

332

61 739
26 109

A9 7QO

co «fvQ

26 685

97 1 71

64 393
27 493

1 6 917

17 1 %Q

17 ^19

17 Pifi^

90

363

371

3.895
4.11
QQe

350

356

4

7c

4

5.02
5 43

CONSUMER CREDIT*
(Short- and Intermediate-term)
AQ BQn

Installment credit, total
do
53 745 59 397 57 826 58 085 en 007
Automobile paper
„ _„__._
do
22 199 24 521 24 423 24 367 24 521
iq 7«f\
Other consumer goods paper
- do
14 222 M XQ1
3 509 3 516
Repair and modernization loans
do
3 389 3 cr»o
Personal loans. __„„... _. .
do
14* 391 16 071 15 672 15 771 10 071
By type of holder:
'
Financial institutions, totaL
do
46 992 51 990 a 990 K-I 041
Commercial banks
__..__.,„.,__ do
21 610 23 943 23 663 23 680
Sales finance companies
do
13 523 14 762 M fiOfr M ' AOO
Credit unions......
__.„____
do
5 622 6 458 6 004
6 070
4 5Qo
Consumer finance companies ._„ do
5 078
4 870
4 919
5 A78
Other... ._......_ .
do
1 ' 74.9
1 647 1 749 •I 790
Retail outlets, total.. ........ _„-_-„. ...do
A 74.il
6 753
7 407 6 ADA
Department stores.. ____„_
„.
do
3 427
3 922 3 444. 3 C41
Furniture stores. _
_
...do.
1 086 1 152 1 OA9 I f) OQ
Of>n
Automobile dealers.
„_______
do
328
370
Other.
.._......_ .....
do
1 912 1 963
1,963
Noninstallment credit, total. _ ...^
do
16 145 17 413 1fi 109 -tc 9gc
Single-paym ent loans , total _ . ., .!,_ . . „ . do
5,959
6 473 6 333 6 412 6 470
Commercial banks.. .___.__„__ _.
do
5 047
5 469
Otherfinancialinstitutions
........do
i noK
912
1 004
1 004
972
.
a
' Revised.
Effective Dec. 6, discount rate is 4.50 percent
3
JIT? A
'P^'
/Quarterly average.
Monthly average.
cr* or demanddeposits, the term "adjusted" denotes'demand deposits other than domestic commercial interbank and U.S. Government, less cash items in process of collectionTP J?v?<fVinXH vfive ?i/loan,; to doroeitic commercial banks and after deduction of valua iTn
reserves (individual loan items are shown gross; i.e., before deduction of valuation reserves)
m«ri i 2 i dat<* not shown separately.
JData have been revised7 as follows: Com-'
mercial bank credit (seas. adj. only), back to 1948; consumer credit—unadj., back to 1962"
793-966 O-65-5




76 145
59 342
24 574
15 204
3 • 473
16 091
52
24
14
6
5

159
091
797
429
078

i

nfiA

7 1 S^
7Q1
1 1 98
070

3

7fi A87

59 3Q3

KQ

24 743

25 063

fin 80Q
25 615

1 A 3!41

4QQ
Ifi AQ3

3

7CO

44A

16 190

3

ro O K O

94 9 IA
M 789
A 4fip>

5 *1 AI

3

71 S

6

070

M

5

109

QAO

6 412

R 7QQ
K 9f|9

6
5

3

KQ7

/»Q4

9K cnn

94 ^7

871
940

9 A QQ9

OR 1 ^4

7
5

AQ9
987

5

OVA

7

9QC

K

007

1 in*?
1,809

1 f>

1 t\ 99Q
3 484

1,802

1,819

6 AHA

A ASA

1,838
1 7 AA1

6 781

57 570 57 962
27 210 27 475
15 802 15 876
7 363
7 310
5 422
5 410
1 838 1 826
7 406
7 276
3 910 3 979
1 117 1 138
' 4^3
438
1 851
7 078 17 201
6 871
6 856
5 793
i nsn
1 078

6 825
5,495 5,572
5, 628
1 AHA
1 A9Q
1 HQ4
i flfi^j 1 078
1 AAQ
I nco
1 AAQ
seas, adj., back to 1960. Revisions are available as follows: Commercial bank credit—
1948-63, in the June 1964 Fed. Res. Bulletin; consumer credit—1962 unadj., in the Nov. 1963
Fed. Res. Bulletin; 1960-62 seas, adj., on p. 28 of the June 1964 SURVEY.
©Adjusted to
exclude interbank loans.
§ For bond yields, see p. S-20.
*New series (FHLBB); data prior to Dec. 1962 not available.
IData are as of end of
consecutive 4-week periods ending in month indicated, except June figure which is as of June
30 (end of fiscal year).
A 449

6

C1 0

6

77A

SURVEY OF CUERENT BUSINESS

S-18
Unless otherwise stated, statistics thronglr 1962
and- descriptive notes are shown in the 1963
edition of BUSINESS STATISTICS

1963

| 1964

Monthly
average

1

December 1965

1964
Nov.

Oct.

1965
Dec.

Jan.

Feb.

Mar.

Apr.

May

June

July

Aug.

Sept.

Oct.

Nov.

FINANCE—Continued
CONSUMER CREDIT*— Continued
Total outstanding, end of year or month— Con.
Noninstallment credit— Continued
Charge accounts, total
..-. mil. $__ 15,871
1895
Department stores
do
1
4, 456
Other retail outlets
do
1520
Credit cards
do___.
14,315
Service credit
do
Installment credit extended and repaid:
Unadjusted:
Extended total
Automobile paper
Other consumer goods
paper
f
Allother
Repaid, total
Automobile paper
Other consumer goods paper
All other
Seasonally adjusted:
Extended total
Automobile paper
Other consumer goods paper
Allother
Repaid total
Automobile paper
Other consumer goods paper
All other

do
do
do
do
do ..
do
do
do
do
do
do
do
do
do
do
do

5.068
1,834
1,417
1. 817
4,593
1,613
1,320
1, 659

i 6, 300
1909
14,756
1635
i 4, 640

5,352
660
4, 055
637
4,417

6,300
5,394
909
703
4, 756
4,065
635
626 4,640
4,480

5, 724
793
4,280
651
4,667

5,154
660
3,857
637
4,782

4,977
601
3,743
633
4,802

5, 210
626
3, 942
' 642
4, 864

5,453
647
4, 142
664
4,809

5,528
627
4,218
683
4,793

5,534
591
4,217
726
4,762

5,498
595
4,149
754
4,738

5,496
647
4,078
771
4,726

5, 645
682
4,221
742
4,685

5,506
1, 964
1,597
1,945
5,035
1,770
1,469
1,796

5,552
1,999
1,657
1,896
5,172
1,871
1,481
1, 820

5,323
1,727
1, 672
1,924
5,064
1,783
1,463
1,818

6.767
1,992
2.404
2,371
5,455
1,838
1,532
2,085

5,023
1,836
1,440
1,747
5,078
1,783
1,539
1,756

5,007
1,915
1,338
1,754
4,986
1,746
1,558 .
1,682 '

6,173
2,382
1,619
2,172
5,748
2,062
1,659
2,027

6,480
2, 496
1, 614
2, 370
5, 465
1,944
1, 502
2, 019

6,189
2,384
1,682
2,123
5,253
1,890
1, 509
1,854

6, 780
2,608
1,804
2,368
5, 729
2,032
1,611
2,086

6,429
2,465
1,755
2,209
5,610
1, 979
1,604
2,027

6,394
2,343
1,769
2,282
5,610
2,021
1,604
1,985

5,992
2,039
1,828
2, 125
5, 539
1,977
1,612
1,950

6,144
2,263
1,874
2, 007
5,622
2,052
1,614
1,956

5,507
1,924
1,582
2,001
5,097
1,788
1,456
1,853

5,456
1,858
1,631
1,967
5,155
1,818
1,509
1,828

5,816
2,043
1,719
2,054
5,256
1,864
1,505
1,887

5,883
2,120
1,729
2,034
5,213
1,830
1,526
1,857

6,022
2,228
1,760
2,034.
5,381
1,897
1,632
1,852

6,030
2,229
1,698
2,103
5, 393
1,924
1,567
1,902

6, 189
2, 272
1, 645
2, 272
5, 445
1, 936
1, 487
2, 022

6,105
2,215
1,728
2,162
5,435
1,940
1,564
1,931

6,139
2, 250
1,717
2, 172
5,537
1,960
1,587
1,990

6, 278
2,301
1,792
2,185
5, 612
1,972
1, 612
2, 028

6,288
2,313
1,'794
2,181
5,679
2,030
1,658
1,991

6,331
2,324
1,834
2,173
5,648
1,996
1,629
2,023

6, 306
2,266
1,883
2,157
5,717
2, 028
1,648
2,041

9, 586 r 4, 340
10, 028 10, 317
-442 ' -5,977

9,716
9.398
318

10, 256
10, 882

6,387
9,109
-2, 722

11,227
9,606
1,621

13, 065
9,566
3,499

10, 46-2
10, 476
16

11,857
10, 567
1,290

'-

FEDERAL GOVERNMENT FINANCE
Net cash transactions with the public:^
Receipts from
Payments to
Excess of receipts, or payments ( — ) _ _
Seasonally adjusted quarterly totals: §

mil $
do
_do

9,381
9,763
-381

Budget receipts and expenditures:
9,523
Receipts, total
do
7,293
Receipts netf
do
105
Customs
___do
4,525
Individual Income taxes
do
1, 897
Corporation Income taxes
do
1,346
Employment taxes
do
1,650
Other internal revenue and receipts
do
7, 849
Expenditures totaH
do
852
Interest on public debt
do
439
Veteran^* benefits and services
do
National defense
do
4,414
2, 189
All other expenditures
do
Public debt and guaranteed obligations: '
Gross debt (direct), end of mo., total
bil. $_. 1309. 35

28, 708
29, 822
-1,114

15, 306
4, 981 11, 595 1 12, 599
4,283
9,696 12, 299 11, 090 10, 518
11,535
3,771 -4,714 i -705
1, 509 -6, 234
30, 454
32,278
-1, 824

29, 883
30, 086
-203

32, 737
32, 255
482

11, 329
7,518
106
6,174
473
2,810
1, 765
7,146
933
478
3,835
1,940

14,517
11, 188
155
4,135
6,759
1,459
2,009
8,139
961
459
4,497
2,224

11, 423 11, 582 p 15,495
7,268 P 13,377
8,549
128
"145
139
6,067 *5,314
6,943
520 p 6, 596
1,187
2,86l p 1, 407
1,311
2,007 *2,033
1,843
8, 116 *>9,081
8,268
955
*>997
948
450
P476
452
4,317 *>4,906
4,351
2,526 i 2,486 *2,746

5,070
3,807
^ 137
1,661
727
629
1,915
7, 240
1, 000
210
3,848
2,261

10, 025
8, 856
125
3,398
3,953
779
1,769
8,770
955
495
4.473
2,866

6,329
5,642
76
3,688
607
399
1,560
7,676
966
450
3,987
2,349

318. 49

317.94

317. 98

319. 88

317. 70

316. 56

319. 22

317. 27

316. 58

318.24

316. 75

318. 90

321.71

314. 02
267. 36
14. ,33
46.66
4.46

313. 55
267. 48
14.36
46.08
4.39

313. 68
269. 44
14.68
44.24
4.31

315. 54
269. 98
14.67
45.57
4.34

313.33
267.67
14.85
45.66
4.36

312. 21
267. 81
14. 63
44.40
4.35

314.17 313. 11
266. 33 264. 46
14.70
14.59
47. 83 ' 48. 65
4.16
5.05

312. 20
264. 41
14. 39
47. 79
4.38

313. 90
264. 12
14.92
49.78
4.34

312. 36
264. 29
15.40
48.07
4.39

314. 56
267. 60
15.18
46.96
4.34

317.36
270. 30

9,769
7,391
113
4,361
2,087
1,426
1,782
8,079
920
457
4,355
2,422

4,275
3,398
126
1,423
572
479
1,676
8,329
923
467
4,233
2,716

8,972
7,037
124
5,068
449
1,491
1,840
7, 051
917
366
3,997
1,780

317.94

315. 64

1305.21 313.55
Interest bearing, total.
do
Public issues.__
_ do
1261.56 267.48
Held by U.S. Qovt. in vestment accts. do
i 14. 14 i 14.36
Speciallssiies
do
i 43. 66 i 46. 08
Noninterest bearing,
do
M.13 14.39
Guaranteed obligations not owned by U.S. Treasury, end of month _ _
- bil $
i.74
1.81
U.S. savings bonds :
Amount outstanding, end of month
do
i 49. 03 i 49. 89
Sales, series E and H
do
.40
..38Redemptions
do
.42
,44

311.22
264. 96
14.10
46. 26
4.42

10,586 12, 640
7,350 10, 999
159
145
5,422
5,540
4, 236
482
1, 120
2,501
1,703
1, 918
9,452
8,990
966
966
474
483
4,372 r 4, 531
3,261 r 3, 482

4,327
3,295
153
1,508
625
461
1,580
8,750
962
486
4, 478
2,877

47.05
4.36

.82

.83

.81

.66

.69

.72

.66

.61

.59

.47

.50

.52

.49

.46

49.70
.37
.41

49.81
.35
.36

49.89
.37
.43

49.94
.43
,53

50.01
.39
.45

50.06
.41
.49

50. 08
.39
.49

50.11
.36
.43

50.15
.36
.46

50.23
.39
.46

50.26
.37
.46

50.28
.34
.45

50.36
.37
.41

50. 42
.34
.40

141. 12 149. 47 147. 98 148. 75 149. 32
Bonds (book value), domestic and foreign,
total. __
bil $
68.04
68.17
i 66. Og i 67. 96
67.97
15.59
U.S. Government..
do
5.77
5.70
15.81
5.51
13.77
State, county, municipal ( U S )
do
3.87
3.84
13.85
3.81
Public utility (U. 8 )
'
do""" i 16. 44 i 16. 32
16. 35
16.33
16.29
Railroad (U.S.)
do
3.38
3.38
i 3. 35 13.31
3.36
32.62
Industrial and miscellaneous ( U . S . ) _ _ _ _ d o _ _ _ _ i 31. 21 i 33. 14
32.77
32.93
Stocks (book value) , domestic and foreign, total
17.94
6i31
6.24
17.14
6.39
i 2. 51
Preferred (U.S.).
_____
^o $" 12.31
2.55
2.56
2.57
Common (U.S.)____
do
15.30
14.72
3.64
3.58
3.71
Mortgage loans, total.
do
53.98
i 50. 54 i 55. 15
54.40
55. 18
Nonfarm.
do
49.76
146.75 150.85
50.15
50.88
Real estate..
do
14.53
14.32
4.50
4.51
4.52
Policy loans and premium notes
do
17.14
7.06
7.09
i 6. 66
7.13
Cash
___
^0
11.49
i 1. 47
1.28
1.39
1.44
Other assets
.._._._
do
15.26
6.88
14.92
6.87
6.68
Payments to policyholders and beneficiaries in
U.S., total.
mil $
896.5
898.8
803.8 1, 179. 3
835. 7
Death payments..
do "
377. 8
375.3
342.6
350.7
432.8
Matured endowments
do
74.9
77.5
75.2
79.2
67.4
Disability payments. __
do
13.4
12.4
12.6
17.6
12.9
Annuity payments....
do
75.1
80.1
78.2
77.1
81.5
Surrender values
dn
149. 1
152.8
136.0
143.8
173. 0
Policy dividends.
""
do"""" 180.4
197.5
211.6
160.3 395.2
?
Revised.
? Preliminary.
1 End of year- asset s of life!nsurance compan ies are ar nual
statement values.
JSee similar note on p S-17
cfOthc JF than \ orrowin
.Revisions available upon request are as follows: Net cas h transa<3tions wi th the p ablic
(seas, adj.), 1962-2d qtr. 1964; assets all life insurant26 COS., 1963-Ma$r 1964.

150. 39

151. 03

151. 66

152. 27

152.92

153. 50

154. 42

155. 19

156. 04

68.54
5.72
3.82
16.27
3.35
33. 26

68.73
5.76
3.80
16.26
3.34
33. 42

\68. 74
5.56
3.79
16.25
3.34
33.57

68.85
5.52
3.77
16. 25
3.33
33. 69

69.12
5.49
3.75
16.21
3.32
34. 03

69.16
5.27
3.72
16.17
3.32
34. 32

69.63
69. 82
5.31
5. 32
3.65
3.61
16.18 / 16. 17
3.30
3.31
34. 98
34.77

69.84
5.26
3.58
16.14
3.29
35. 07

6.46
2.58
3.77
55.63
51.31
4.53
7.16
1.32
6.75

6.52
2.60
3.82
55.94
51.59
4.54
7.20
1.25
6.84

6.61
2.61
3. 89
56.34
51.92
4.57
7.26
1.24
6. 91

6.62
2.63
3.88
56. 69
52.21
4.57
7.31
1.20
7.02

6.67
2.64
3.93
57.00
52.48
>.4.58
7.36
1.19
7.00

6.74
2. 69
3.94
57.38
52. 81
4.61
7. 41
1.23
6.97

6.75
2.68
3.96
57.66
53.04
4.64
7.46
1.28
7.00

6.96
2.73
4.11
58.41
53. 72
4. 68
7.55
1.27
•7.34

LIFE INSURANCE
Institute of Life Insurance:
Assets, total, all U.S. life insurance companies |




918.5
389.2
86.7
13.5
101.9
163.1
164.1

842.3 , 059. 2
468.3
363.7
91.9
75.6
15.7
12.7
84.2
88.5
143.4
183.6
211.2
162.7
IDa ta for ne t receipts
action 3.

8.80
2.68
4.00
58.02
53.36
4.65
7.51
1.31
7.09

954.2
935.5
398.8
400.4
74.6
67.9
14.3
12. 5
86.7
85.5
164.5
158.8
215.3
210.4
and tot<ilexpend itures re fleet exclusion of certain Interfund trans=
922.0
398. 6
82.0
12.9
83. ,5
162. 1
182. 9

878.5
374.3
75.2
12.7
81.2
165. 2
169.9

950. 2
399.3
80.9
14.8
89.0
162.9
203.3

911.6
388.0
71.1
12.3
84.6
157.1
198.5

SUEVEY OF CURRENT BUSINESS

December 1965

Unless otherwise stated, statistics through 1962
and descriptive notes are shown in ttte 1963
edition of BUSINESS STATISTICS

,1963

1964

Monthly
average

S-19
1965

1964
Nov.

Oct.

Dec.

Jan.

Feb.

Mar.

Apr.

May

June 1 July
1

Aug.

Sept.

Oct.

Nov.

FINANCE—Continued
LIFE INSURANCE— Continued
Life Insurance Agency Management Association:
Insurance written (new paid-for Insurance) : 1
Value, estimated total. _
_
mil. $_
Ordinary
do
Group and wholesale
do
Industrial _
do _

7, 464
5,293
1,574
596

8,734
6,077
2, 047
609

8,405
6, 309
1.454
642

10. 067
6,327
3,090
650

12,359
6,896
4.936
527

7,752
5,477
1,722
553

7.986
5,890
1,478
618

9,929
7.313
1,961
655

9 092
6 871
1 595
626

8,914
6 674
1,549
691

9, 435
7,003
1,799
633

8,569
6,439
1,535
595

8,747
6,605
1,537
605

9,663 °37, 639
6,656
6,883
2,423 «30, 131
584
625

1,134
847
169
117

1,199
897
185
116

1,191
903
182
106

1,190
899
180
111

1,431
987
222
222

1,208
920
181
107

f, 159
878
180
100

1,308
994
209
105

1 204
914
188
102

1 218
924
188
106

1 223
930
195
98

1,254
954
194
105

1,222
915
204
103

1,191
898
193
100

Gold and silver:
Gold:
Monetary stock, U.S. (end ofyr.ormo.)_m!L $._ 115,513 US, 388
-21
21
Net release from earmark f
do
16,982 35, 229
Exports
___
' _ thous. $
3,407
3,701
Imports
"
do

15, 461
31
56, 453
2 221

15, 386
35
28, 187
9 704

15,388
—26
28, 197
9,902

15,185
-173
49, 276
2 170

14, 937
—69
95, 766
2 062

14, 563
—247
22 304
2 128

89 9
11 5

88 0
11.5

84 2
10.8

87.4
10.8

85 3
98

86 8
10 8

88 0
11 3

89 2
10 4

90 1

r 10 7

90 8
10 0

91.0
10.5

89.7
10.2

33, 949
5 703
1.293

23, 628
6 252
1.293

23, 621
4 956
1.293

5,023
4 716
1.293

8 280
5 278
1.293

4 476
2 7(50
1.293

A 009

5 302

9 273
4 364
1.293

2 101
3 763
1.293

848
3 917
1.293

4,199
5 716
1.293

1,534
6 104
1. 293

4,046
4 722
1.293

2,382
3,440
3 141

2,594
4,017
2 844

2,963
3 379
4 522

2,577
2 981
3 445

2 299
2 432
4 035

9

35S
4 180
4 4^2

9 QQ4.

2 632
3 290
3 527

2 884 ' 2 549 2,507
2 903
3 837
0 1 KQ
q 418
3 231

38.4

39.2

39.6

38.5

38 6

38 8

QQ Q

39 2

39 7

39 9

40.2

40.4

40 8

159 0 r 160 6
34 1
34 6
126.1
124.9
123.4
124.1
5.5
5.'8'

164 0
35 0
129.1
125.2
$.5

164 4
34 4
130.1
128.3
4.2

1 KQ • C

159 0
34 3
124.6
132.7
.6.7

1 A1 A

i K7 a

I KQ p.

1 An Q

aA K

34 6
1"23. 0
135.4
9.7

OA Q

12476
136.6
9.3

125.6
138.3
9.1

169 5
35 5
125.0
140.2
.7.4

163 2
35 6
127.5
141.4
5.6

165 8
36 0
129.8
143.5
5.0

167 4
36 5
130. 9
144.4
4.0

158 8
34 0
124 8
123 5

159 1
34 2
124 8
125 1

159
34
125
126

7
2
4
6

160 0
34 5
125 5
128 8

1 CQ 7

160 3
34 7

m
oA

i fin n
34 9

m
OK

o

i A9 P;

n

OK 9
1 ^7 A

162 7
35 4
127 3
140 1

164 3
165 6
35 6
35 9
128 7 r 129 7
141 6
143 6

165 7
36 1
129 6
145 5

44
89
32
40
29

45 1
91 3
33 2
41 0
29 5

45 5
90 7
33 4
41 7
30 0

46 3
94 8
33 8
42 8
30 0

49 3
104 9
35 1
44 4
31 1

48 4
99 4
35.5
44 9
31 7

Premiums collected :t
Total life insurance premiums
Ordinary
Group and wholesale
Industrial

___

do
do
do____
do

1,264
962
196
106

MONET AHY STATISTICS

Production, world total.
mil $ 2 112. 5 2116.2
85.0
80.0
South Africa
do
11.6
11.1
Canada __
do
4.3
4.3
United States. _ _ _ _ _
^.._._..._._do.._.
Silver:
Exports
_ _ _ _ thous $
3,480 12, 010
5,910
Imports
__
do
5,526
1.293
Price at New York.
____._dol. perfineoz__ 1.279
Productlon:
2,526
Canada
____
thous.fineoz__ 2,487
3,286
3, 476
Mexico—-.
_•
_ do
United States..—
.
do
3,843 3,823
Currency In circulation, end of yr. or mo..__bii. $

137.7

1

39. 6

Money supply and related data (avg. of daily fig.):J
Unadjusted for seas, variation:
Total money supply
bil $ 3 150. 6 3 3156 3
331.5
Currency outside banks _ _ _ _
do
33 5
3 119. 0 3 122. 8
Demand deposits
_do
Time deposits adjustedf.____
-____do_.._ 3 105. 5 3 119.4
35.9
U.S. Government demand deposits
do____
35.8
Adjusted for seas, variation:
Total money supply
Currency outside banks
Demand deposits
Time deposits adjustedf

_

do
do
do
do

Turnover of demand deposits except interbank and
U.S. Govt., annual rates, seas, adjusted: f
Total (225 SMPA's).__ ratio of debits to deposits
New York RMSA
do
Total 224 SMSA's (except N.Y.)
_
do
6 other leading SMSA'sd"
do
218 other S MSA's
do

14, 410 14, 290 13, 934 13, 857 13, 857 13, 858 13, 857
142
43
18
124
—157
99
13
58 637 267 956 126 407 159 947 108,028 126,324 101, 275
1,539 •1,888
1 562 2 153 17, 794
1 779 2 465

13, 805

. j

6
8
8
9
3

34. 9

125. 3
130.8
5.7

04 7

1.293
9 379

127.1
134.0
5.6
i
7

1 eye a

m

o

47 1
Qfi 1

34 6
Mo

on pr

AA Q

31 2

A

1 9^ 1

m

132 1

47 9
96 9
35 4

OK

4Q A.

fi

47 n

inn n
35 2

% f\

01 9

on a

AA K

34 7
AA 9

50
107
36
45
32

9
0
3
5
2

47
95
35
44
31

2
4
3
1
4

47 4
96.3
35.1
43 8
31.4

1.293

50 5
104.7
37.0
47 6
32.1

PROFITS AND DIVIDENDS (QTRLY.)
Manufacturing corps. (Fed. Trade and SEC) :
\
Net profit after taxes, all Industries. _ mil. $
^4,871 4 5, 803
Food and kindred products
do
4362
4423
— ' Textile mill products _ .
do
488
4127
Lumber and wood products (except furniture)
mil. $_. 4 462
478
4
Paper and allied products
do
158
188
Chemicals and allied products.... _
do
'4607
4714
Petroleum refining
do~~~~
Stone, clay, and glass products
do
4148
4170
4
Primary nonferrous metal
'___ _
do
141
4190
4
4
234
306
Fabricated metal products (except ordnance
machinery, and transport, equip.)
mil $
4167
4210
4
Machinery (except electrical).
_. do
4358
500
4
Elec. machinery, equip., and supplies, do
325
4378
Transportation equipment (except motor
vehicles, etc.)
_-_.„
„
.mil. $..
4111
4136
4
Motor vehicles and equipment... _
do
4702
640
4
All other manufacturing Industries
do
654
4510
Dividends paid (cash), all industries
do
42,467 42,702
Electric utilities, profits after taxes (Federal Re-"
4
mil »$__
m serve) JL A.I ------- ------------------.----....JIIll.
4547
596
Transportation and communications (see pp. S-23

& 909

6,299
464
159

4.nQ

i Ki

66
218
755

56
•I QK

731
1, 061

167
221
355

QO

235
388

225
506
456

244
Kf)f}

406

143
651
749

147

QQK

fic,1

3,405

0 fiCO

600

719

7 215
454
166

6, 590
522
176

93
216
853
1,C83
220
270
411

105
215
789
253
214
312

325
689
455

304
652
471

187
] 057
730

185
468
845

2 942

2,623

597

626

SECURITIES ISSUED
Securities and Exchange Commission- i
Estimated gross proceeds, total....!. ....mil. $
By type of security:
Bonds and notes, t o t a l _ _ _ _ _ _ _ _ _
...do
Corporate __
^0
Common stock_I__I_"
"
<jo

' 2, 936 r 2 354

3 093

2 914

4 631

3 339

2 333

2,521
906
85
29

2,836
905
223
34

2 701
823
188
25

4,579
675
43
9

3, 196
1,662
94
49

2,530
2,887
2 712
2 860
2 202
3 842
3 988 ' 2, 814 ' 2 262 2,861
1,070
1,324
877
1,370
1,215
727
637
1,729 r 1, 322
'837
127
116
384
78
76
82
154
84
130
'78
35
65
'44
92
8
60
47
'15
155
24
July 1965 and June 1964 editions of Fed. Res. Bulletin; these revisions result from adjustments
to new benchmarks and from revisions of seasonal factors.
§Or increase in earmarked gold (-). |Tlme deposits at all commercial banks other than
those due to domestic commercial banks and the U.S. Govt.
f Revised series; data prior to
1964 not available. Total SMSA's include some cities and counties not designated as
SMSA's.
^Includes Boston, Philadelphia, Chicago, Detroit, San Francisco-Oakland,
and Los Angeles-Long Beach.

n?^^
and jj eb. 1964. Revisions back to 1947 for money supply'and related data are available in the




3,050

2,635

3 997

3 003

3 160

4 297

3 029

2 655

SURVEY OF CUREENT BUSINESS

S-20
1963

Unless otherwise stated, statistics through 1962
and descriptive notes are shown In the 1963
edition of BUSINESS STATISTICS

1965

1964

1964

Monthly
average

December 1965

Nov.

Oct.

Dec.

Jan.

Feb.

Mar.

Apr.

May

June

July

Aug.

Sept.

Oct.

Nov.

FINANCE—Continued
SECURITIES ISSUED— Continued
Securities and Exchange Commission}:— Continued
Estimated gross proceeds— Continued
By type of issuer:
Corporate total $
roil
$
Manufacturing
do
Extractive (mining)
do
PuMIc utility
""•
do
Railroad
do
Communication
do
Financial and real estate. _ _ _
__do_.__
Noncorporate, total 9
do
U.S Government
do
State and municipal _
do
New corporate security issues:
Estimated net proceeds, total
--do
Proposed uses of proceeds:
New money, total
do
Plant and equipment -___
do
Working capital
do
Retirement of securities
do
Other purposes
do
State and municipal issues (Bond Buyer) :
Long-term
. do
Short-term
- do

1,020
295
18
222
36
91
260

1,163
254
35
230
28
182
321

1,036
270
58
339
16
89
199

727
229
23
47
15
21
213

1,805
637
52
205
29
34
619

858
412
11
120
26
22
189

791
212
7
230
39
45
220

1, 358
555
14
289
47
30
248

1, 233
562
75
212
21
18
251

1,773
735
20
275
24
145
373

2,038
484
14
195
16
99
1,045

'930
'364
'19
'305
13
29
'134

1,538
435
25
365
26
202
343

1,002
316
31
163
20
96.
272

1, 615
601
842

1,930 / 1,878
367
888
816
879

3,904
3,242
566

1,534
373
1,097

1,475
433
811

3, 205
2,129
933

1,646
413
1,003

1,817
390
971

1,387
356
1,020

2,260 r 1, 492 ' 1, 424
371
388
362
718
1,055
1,000

1,490
342
984

1,653
369
867

1,007

1,149

1,019

720

1, 787

850

779

1,343

1,214

1,746

2,018

' 1, 427

'919

1, 523

989

700
410
290
54
95

687
443
244
33
59

1. 039
667
372
146
157

939
680
260
61
213

1, 560
993
566
55
132

1,665 ' 1, 168
'735
651
'433
1,014
72
'137
'122
281

'760
'572
'188
'69
'91

1,249
797
452
130
143

831
455
377
56
102

984
543

'867
397

r 1/443

'454
'43
r228
27
154
'206

749
450
299
127
130

936
584
352
63
150

754
541
213
67
199

553
243
310
51
116

1, 322
621
701
145
320

842
457

879
452

816
446

566
354

1,097
296

811
424

933
533

1,003
518

971
1,046

1,020
652

1,000
489

1,055
494

718
680

mil.S.. 1 M61
1488
5,541 i 5, 101
do
1
do___. 1 1, 210 i 1, 169
4, 481 i 4, 132
do

475
5,205
1,155
4,155

498
5,181
1,131
4,135

488
5,101
1,169
4,132

519
5,019
1,207
3,940

488
5,038
1,254
3,880

501
5,085
1,264
4,000

489
5,096
1,207
4,066

477
5,154
1,208
4,187

515
5,139
1,297
4,436

491
4,887
1,233
3,676

491
4,908
1,192
3,771

539
5,016
1,369
3,609

525
5,096
1,475
3,552

i

944
566

SECURITY MARKETS
Brokers* Balances (N.Y.S.E, Members Carrying
Margin Accounts)
Cash on hand and in banks.
_.
Customers* debit balances (net)
Customers' free credit balances (net).
Money borrowed

Bonds
Prices:
Standard & Poor's Corporation:
Industrial, utility, and railroad (A1+ issues):
Composite o*
dol per $100 bond
Domestic municipal (15 bonds)
do
U.S. Treasury bonds, taxable!
do
Sales:
Total, excl. U.S. Government bonds (SEC) :
A l l registered exchanges:
Market value
mil $
Face value
do
New York Stock Exchange:
M^arket value
"
do
Face value
do
New York Stock Exchange, exclusive of some
stopped sales, face value, total. ___mil. $._
Yields:
Domestic corporate (Moody's)___
percent..
By ratings:
Aaa______
_,___
_____
do__
Aa
__ _
do
A
do
Baa
_
do
By groups:
Industrial
do
Public utility.
_
do
Railroad
do
Domestic municipal:
Bond Buyer (20 bonds)
do
Standard & Poor's Corp. (15 bonds)
__do
U.S. Treasury bonds, taxable©

96.8
111. 3

95.1
111.5

95.1
110.9

95.2
112.0

95.3
112.6

95.5
114.0

95.5
113.3

95.2
112.0

95.0
112.2

94.7
111.9

94.3
110.8

93.9
110.8

93.5
111.0

92.8
109. 3

92.7
108.4

92.3
107.7

86.31

84.46

84.37

84.81

84. 65

84.56

84.40

84.48

84.53

84.58

84, 57

84.51

84.00

83.27

82. 97

82.22

145, 04
137. 82

240. 21
220. 06

239. 88
218. 21

204. 06
193. 97

211. 88
200. 92

204. 50
194. 12

215. 95
195. 74

321. 07
295. 71

261. 23
257. 53

240. 82
220. 36

303. 79
278. 99

265.58
248. 19

294. 76
256. 23

398. 73
332. 00

424. 51
345. 52

138,, 94
132, 17

231.90
211.86

227. 75
206. 52

189. 71
180. 23

203. 14
192. 02

195.35
185. 17

203. 26
185. 24

305. 46
282. 15

251. 67
248. 48

230. 16
210. 27

287. 04
262. 56

253. 01
235. 86

282. 80
245. 19

389. 95
323.26

414. 32
336. 49

123. 61

210. 38

222. 93

179. 45

193. 49

196. 84

215. 30

258.65

214. 56

207. 90

271. 92

191. 64

244. 98

307. 79

290. 84

272. 00

4,50

4.57

4.57

4.58

4.58

4.57

4.55

4. 56

4.56

4.57

4.60

4.64

4.65

4.69

4.72

4.75

4,26
4.39
4.48
4.86

4.40
U.49
4.57
4.83

4.42
4.49
4.55
4.81

4.43
4.49
4.57
4.81

4.44
4.50
4.58
4.81

4.43
4.48
4.57
4.80

4.41
4.46
4.54
4.78

4.42
4.48
4.54
4.78

4.43
4.48
4. 54 •>
4.80

4.44
4.49
4.55
4.81

4.46
4.52
4.58
4.85

4.48'
4.56
4.62
4.88

4.49
4. ,59
4.65
4.88

4.52
4.63
4.69
4.91

4.56
4.66
4.71
4.93

4.60
4.69
-4.75
4.95

4.42
4.41
4.65

4.52
4.53
4.67

4.53
4.52
4.66

4.53
4.53
4.67

4.54
4.54
4.68

4.53
4.52
4.66

4.52
4.51
4.62

4.52
4.51
4.63

4.54
4.51
4.64

4.55
4.53
4.64

4.59
4.56
4.66

4.62
4.58
4.71

4.63
4.60
4.73

4.65 x
4.64
4.77

4. 67
4.67
4.81

4.71
4.71
4.83

3.18
3.23

3.20
3:22

3.23
3.26

3.18
3.18

3.12
3.15

3.04
3.06

3.17
3.10

3.16
3.18

3.15
3.17

3.20
3.19

3.30
3.26

3.25
3.26

3.29
3.25

3.41
3.36

3.40
3.42

3.50
3.47

4.00

4.15

4.16

4.12

4.14

4.14

4.16

4.15

4.15

4.14

4.14

4.15

4. 19

4.25

4.27

4.34

do____

Stocks
Cash dividend payments publicly reported:
Total dividend payments, _„_
.
__miL $_. 16, 188

613. 3 2, 622. 9 1,243.8

487.4 2, 863. 7 1, 279. 3

507. 0 2,735.1, 1, 332. 8

536.6

374.8
408.1
20.0

214.1
259,6
175.5 1, 725. 4
117.5.
3.6

267.5
391.2
18. 4

106.5
251. 2
179.8 1, 951. 0
3.2
121.2

270.8
399.6
19.4

305.6
114.6
189.5 1, 762. 3
121.4
.9'

277. 0
430.9
20. 8

140.7
198.9
3.5

112.6
236.9
96.8
71.2
43.8

290.8
146.1
19.1
102.1
24.2

2.0
151.4
9.1
45.5
12.1

292.4
152.2
2^.774.2
22.2

2. 0
150.2
5.9
27.4
12.4

114.8
241.9
70.7
74.3
38. 6.

311.9
151. 5 '
21.5
81.6
23.0

2.3
150.5
9.1
28.6
11.5

114.4
245. 2
70.3
76.0
39.9

315. 8
153.3
24.8
84.3
25.9

2.3
146.0
6.5
26.3
12.4

7.37
8.10
3.68
4.03
4.68
6.22

7.44
8.20
3.73
4.03
4.80
6.22

7.47
8.24
3.73
4.03
4.80
6.22

7.55
8.38
3.83
4.04
4.92
6.31

7.57
8.41
3.84
4.04
4.92
6.31

7. 59
8.42
-3.88
4.07
4.92
8.31

7.63
8.47
3.90
4.08
4,92
6.31

7.78
8.67
3.96
4.16
4.92
6.31

8.12
9.03
3.99
4.28
4.93
6.57

Price per share, end of mo., composite.— ---do
202. 32 235. 08 243. 14 241. 05 242. 99
Industrials. _
_
do
218. 24 258. 55 269. 08 268. 83 270. 21
Public utilities.
do
102.. 79 108. 76 115. 11 115. 62 115. 54
Railroads. _
do
78., 49
94.01 102. 41
95. 95
92. 59
f
Revised.
1 End of year.
2 Annual total
^Revisions for 1961-62 will be shown later.
9 Includes data not shown separately.
c? Number of bonds represented fluctuates; the change in the number does not affect the
continuity of the series.

250. 34
280. 74
119. 00
95.52

254.52
290. 30
116. 95
95.11

260. 91
301.00
118. 38
99.69

255. 62
296. 07
115. 84
102. 30

Finance— _ _ _ _ _ _ _
„___„
do
Manufacturing.— _ _ _ _
do
Mining. _ _ _ _ _ _ _ _ _ _ _ • __„
do
Public utilities:Communications „
_._do
Electric and gas____
____„„
____do
Railroads. _ _ _ _ _ _ _ _ . _ _ . _ _ _ _ _ _ „ _ _ _ „ _
do
Trade
_______________
„ _ _ _ _ _ do
Miscellan'eous______.__._______________ __do
Dividend rates and prices, common stocks
(Moody's):
Dividends per share, annual rate, composite
dollars..
Industrials
do
Public utilities
do
Railroads _
do
N.Y. banks
do
Fire insurance companies..
do




17, 682 1, 211. 7

488.5 3, 520. 3 1, 385. 2

2
2, 487
2
8,2 510

2
2,805
2

9, 298
2601

246. 4 "
385.3
17.5

493.1
125.8
175.. 8 2, 282. 9
183.0
3.2

2

2
2

1, 573
2, 036
2422
2
680
2268

292.1
144.7
31.8
71.7
22.2

2.7
140. 7
6.5
23.0
10.8

7.05
7.70
3.43
3.81
4.57
6.00

7.12
7.77
3.49
3.96
4.55
6.12

7.328.06
3.49
4.00
4.61
6.12

582

1, 456
§ 1,2 900
377
2642
2232

6.42
6.98
3.21
3.50
4.46
5.84

111.8
233. 9
69.8
67.3
37.6

7.48V
8.24
3.80
4.03
4.92
6.25

7.48
8.25
3.80
4.03
4. 92:
8.25

•'

7.54
8.38
3.80
4.00
4.92
6.31^

248. 21 245. 38 253. 28 249.78 238. 93 242. 16
278. 19 274. 90 287. 13 282. 16 269. 18 273. 38
118. 81 118. 85 119. 57 118. 21 114. 22 114. 76
90.93
90.22
86. 23
94. 11
94.62
94.16
f Prices are derived from average yields on basis of an
OFor bonds due or callable in 10 years or more.

246.50
279. 07
115.46
94.36
assumed

3 percent 20-yeai- bond.

SURVEY OF CUKKENT BUSINESS

December 1965
1963

Unless otherwise stated, .statistics through 1962
and descriptive notes are shown In the 1963
edition of BUSINESS STATISTICS

1965

1964

1964

Monthly
average

S-21

Oct.v

Nov.

Jan.

Dec.

Feb.

Mar.

Apr.

May

June

July

Aug.

Sept

3.08
3.02
3.36
4.31
3.25
2.90

3.00
2.92
3.33
4.29
3.17
2.94

Oct.

Nov.

FINANCE—
SECURITY MARKETS— Continued
.!

Stocks1- Continued
Dividend yields and earnings, common stocks
(Moody's):
Yields composite
percent
Industrials
do
Public utilities
do
Railroads
do
N.Y. banks .
do _ _
Fire insurance companies
_ __ _ __ do
Earnings per share (indust., qtrly. at ann. rate;
pub. ntil.andRR., for 12 mo. ending each qtr.);
Public utilities
Railroads

do
do

Dividend yields, preferred stocks, 14 high-grade
(Standard & Poor's Corp.)
percent-Prices:
\
Dow-Jones averages (65 stocks)
Industrial (30 stocks)
Public utility (15 stocks)
Railroad (20 stocks)
Standard & Poor's Corporation:^
Industrial, public utilitv, and railroad:
Combined index (500 stocks) _-.-. _1941-43=10__
Industrial, total (425 stocks) 9 _
do
Capital goods (122 stocks)
do_ _
Consumers' good^ (188 stocks)
do ^
Public utility (50 stocks) __ __ do
Railroad (25 stocks)
do.
Banks:
New York City (10 stocks)
__do_
Outside New York City (16 stocks)
do
Fire and casualty insurance (22 stocks) f _ _ do

2.95
3.00
3.02
4.17
2 Q3
2.60

3.03
3.00
3.19
4.35
2.99
2.62

2.97
2.92
3.13
4.22
^3.08
2.56

3.01
2.96
3.14
4.26
3.25
2.55

3.05
3.00
3.20
4.28
3.33
2.59

2.95
2.87
3.18
4.28
3.24
2.51

3.02
2.97
3.21
4.43
3.39
2.70

3.16
3.11
3.35
4.69
3.51
2.84

3.00
2.98
3.15
4.05
2.97
2.50

'12 43
* 4.99
*6 29

U4 39
i 5. 41
*6 97

4.30

4,32

4.25

4.25

4.23

4.18

4.22

4.26

4.28

4. 30

4.38

253. 67
714. 81
138. 36
165. 30

294. 23
834. 05
146. 02
204. 36

311. 73
875. 26
153.93
222. 00

311. 04
880. 04
154. 33
217. 16

304. 50
866. 73
154. 49
206. 46

311. 84
889. 89
158. 09
210.34

313. 79
894. 41
161.31
210. 01

315.14
896. 44
161. 61
212. 26

317. 55
907.71
162.25
212. 19

319. 93
927. 50
161. 35
209. 18

302. 72
878. 06
154. 93
195. 79

15.90
5.51
6.79

15 96
5.41
6.97

. 3.13
3.08
3.35
4.44
3.38
2.86

17 20
5.68
6.91

2.98
2.88
3.35
4.17
3.43
2.96

3.18
3.05
3.44
4.18
3.51
2.94

4.32

4.38

4.41

321. 61
922. 18
157. 51
218. 86

330. 89
944. 77
157. 19
231. 09

335. 45
953. 31
157. 11
238. 11 ,

14 60
'•5.82
7. 11

r

4.38

4.34

303. 66
873.43"
155.71
199. 51

312.37
887. 70
155. 44
214. 21

69.87

81.37

84.85

85.44

83.96

86. 12

86. 75

86.83

87.97

89.28

85.04

84.91

86.49

89.38

91.39

92.15

73.39
63.30
62; 28
64.99
37.58

86. 19
76.34
73. 84
69.91
45.46

89. 75
79. 13
79.08
73. 37
'48. 69

90.36
78.97
79.18
74.39
48.01

88.71
77.24
77.58
74.24
45.75

91.04
80.19
79.69
75.87
46.79

91.64
82.52
80.74
77.04
46.76

91.75
83. 62
81. 50
76.92
46.98

93.08
84.85
83.78
77.24
46.63

94.69
86.35
85.21
77.50
45. 53

90.19
81.62
80.04
74.19
42.52

89.92
80. ^
78.80
74.63
43. 31

91.68
83. 25
80.23
74.71
46.13

94. 93
86.91
82.34
76.10
46.96

97.20
90.28
83.90
76.69
48.46

98.02
91.62
83.75
76.72
50.23

36.75
74.81
63.38

39.64
77. 54
67.20

41.75
80. 50
67.99

41.61
81.20
66.82

40.08
76. 08
66.14

40.40
75. 13
66.80

39.43
73.30
68. 47

38. 96
71.13
68.26

40.00
71.81
69.49

38. 91 . 37.17
68.47
71.23
62.54
67.67

38.18
70. 22
60.95

38. 96
70.98
60.75

40.43
72.74
60^79

39.68
71.68
58. 58

37.19
69.26
59.56

6,012
170

6,245
185

5,195
155

5,773
170

5, 959
179

6,330
182

7,198
217

6,696
199

6,580
198

6, 911
187

5,655
154

5, 951
163

7,993
222

9,664
279

5^035
124

5 268
131

4 371
108

4,872
\ 121

4,918
127

5 291
131

5,979
152

5 508
136

5 366
133

5 819
136

4,783
116

4 937
120

6 662
165

7 857
199

103

107

94

104

109

112

125

119

110

128

85

109

155

164

147

454. 14
8,732

476 39
9 095

472 15
9 136

474. 32
9,229

491. 85
9, 292

493. 48
9 336

490. 25
9,481

506. 58
9,516

503 54
9 647

478 83' 487. 85
9,829
9 785

500 62
9,863

517 67
9 931

532 83
9 984

530 77
10, 013

Sales (Securities and Exchange Commission):
Total on all registered exchanges:
Market value
mil. $_ 5,359
Shares sold
_____millions_153
On New York Stock Exchange:
Market value
mil $
4 574
Shares sold (cleared or settled)
__millions._
113
Exclusive of odd-lot and stopped stock sales
(N.Y. S.E.; sales effected)
millions..
96
Shares listed, N.Y. Stock Exchange, end of mo.:
Market vaiua, ail listed shares
bil. $
Number of shares listed
_ _ millions

2.93
2 89
3.03
3.87
2.89
2.56

3.17
3 20
3.12
4.46
3.15
2.51

386 63
7,906

OF
FOREIGN TRADE
YaiweJ
Exports (mdse.), incl. reexports, totaFfO
Excl. Dept. of Defense shipments
Seasonally adjusted
By geographic regions:A
Africa
Asia
Australia and Oceania
Europe..

m

*l $
do
do

/

/

Northern North America
_
Southern North America...
South America
„__ _

82 7
40l'l
44 3
593 1

101 6
435 5
61 5
692 0

111 9
446 6
72 1
733 4

97
447
67
719

do
_do._
do

343.3
145.1
153 6

395. 6
170.4
176 9

429.7
184.4
172 3

390.9
177.1
191 1

432.7
204.3
225 2

296.9
126.5
73 3

354.1
142.4
116 4

17.5
23.2

22 3
32.8

21 6
40 7

19 3
30 8

34 7
37 3

6 9
14 6

37. 1

52,3
79 6
31 3
6 4

61.8
91 1
34 9
5 7

58.4
80 7
38 1
6 0

55, 6
104 2
44 3 •

19.5
41 9
14 2

Asia; Australia and Oceania:
Australia, including New Qulnea.__.__do
India_
i
do
Pakistan
do
L
Malaysia©---do
_

_

Europe:
France..
East Germany.
West Germany
Italy..
„_
Union of Soviet Socialist Republics
United Kingdom
r

2 154 8 2 196 8 2 430 4 1 217 3 1 592 7 2 752 7 2 380 3 2 277 7 2 184 8 2 262 8 2 345 7 2 297 7 2 348 6

do
do
do
do

By leading countries:
Africa: <
United Arab Republic (Egypt Reg.)- -do
Republic of South Africa
do

Indonesia.
Philippines
Japan

"1,945.6
2 203 2 2^290 3 2 267 0 2 613 0 1'247 4 1 598 12 974 1 2 612 3 2 428 3 2 335 8 2 244 8 2 188 3 2 163 6 2 444 0
r
l, 868.9 2,135 0 2 258 9 2 182 9 2 5609 1 188 1 1 513 7 2 891 7 2 529 1 2 381 4 2 919 1 2 172 1 2 123 5 2 140 8 2 419 5

68 1
32 3

8
4
3
6

122
575
64
825

6

7

do
do
do

91
26 9
142 6

57
30 0
159 0

6 0
29 5
155 7

164 0

212 6 "

do
do
do

56 8
5
93 4

66 8
17
109 2

67 0
5
119 1

64 6
g
104 0

2 7
139 5

do
do
do

73 7
17
96.9

69 3
12 0
122.4

66 8
8
15L-2

70 5
18
138*. 6

82 0
2 1
143^6

7 4

97 1

75
OA

00

Revised.
p Preliminary.
i Calendar year total.
• of stocks ^represents number^ currently used; the change in number does not
tRevised series;
prior to Feb. 1963
1 export schedule;




1
5
8
4

I

0

33
273
24
352

9
7
2
2

4. 3

49
283
63
509

131 1
559 6
82 3
885 1

120
466
76
806

495. 9
194.4
216 1

456.8
190.1
210 2

55
23 7

26 2
61 5

56.1
28 3
13 3
5

1
680 2
7
3
87 4
3 1 009 3

a

2
0
2
9

485 0
69 4
73° 9

422 1
104 9
670 4

129 2
401 1
78 9
666 7

105 6
458 8

517.7
175.6
192 3

531. 2
179.0
168 9

451.1
171.0
164 7

440.1
170.9
172 2

458. 5
172. 8
191 9

532.5
188.6
210 6

21 9
43 9

90
46 6

11 7
42 0

10 4
29 5

23 6
41 9

17 8
50.0

11 9
35.7

75 3
156 2
31 9
8 7

70.2
93 3
42 8
9 1

65 2
81 0
41 9
8 1

58.2
92 2
28 9
7 fi

58.6
97 3
26 9
8 1

78.1
75 2
31 3

60.9
72 9
14 0
7 1

52.3
73 3
92 9
7 4

4 3

1q n

91 9

116 6

135 8

4 5
36 3
244 1

4 4
31 0
189 5

42 3
59 6^

49 5
16
91 4

109 4
8
163 4

84 8
5
152 5

17

2 5

4
7
7
3

120
459
70
675

09 i

7 ^

67 1
806 0

09 n

97 7

OQ A

1 CO K

152 3

195 4

2 1
24 7
156 7

4 3
34 5
145 6

2 7
32 0
169 9

n

69 2
1
121 2

72 7

120 1

61 8
5
114 1

78 9
12
147 0

54

07 a

2 i
127 7

33

K

8
113 0

6

74. 8
59 5
101 0
86 5
95 2
63 6
67 5
33 1
55 7
60 7
3i
31
2 2
31
2 0
15
7 4
2
56
88
126.3
143. 9
118. 7 128^5 117! 5
67^9
107^7
157^6
144.8
132.2
in some instances, because of regrouping of commodities and release of some "special category"
items from the restricted list, data for commodities and countries are not comparable with
those for earlier periods.
^Includes grant-aid shipments under the Dept. of Defense Military Assistance Program, as .well as economic aid shipments under other programs.
AExcludes "special category" shipments.
©Country designation established Jan. 1964.

SURVEY OF CURRENT BUSINESS

S-22
Unless otherwise stated, statistics through 1962
and descriptive notes are shown In the 1963
edition of BUSINESS STATISTICS

1963

1964

j 1964

Monthly
average

December 1965

Oct.

1965

Nov.

Dec.

Jan.

Feb.

Mar.

Apr.

May

June

July

Aug.

Sept.

Oct.

Nov.

FOREIGN TRADE OF THE UNITED STATES—Continued
FOREIGN TRADE— Continued
Valnef— Continued
Exports (mdse.), incl. reexports — Continued
By leading countries— Continued
North and South America:
Canada
mil. $
Latin American Republics, total 9
Argentina
Brazil
Chile
Colombia
Cuba
^Mexico
Venezuela

343.3

395.5

429. 7

390. 9

432.6

296.9

354. 1

495,9

456.7

517. 6

531.2

451. 1

440.1

458.5

532. 5

do

266.7

30^.5

318. 7

328.8

376.6

164.4

228.2

366.7

352.1

327.6

307.6

297.6

304.1

327.3

354.5

do
do
do
do
do
do
do

15.8
31.9
13.5
20.1
3.0
71.5
42.4

21.8
32.2
15.0
/2\3.5
0)
89.7
50.0

17.5
32.5
16.3
21.7
0
99.4
47.6

28.1
37.4
15.4
18.6
0)
95.8
49. 7

34.5
33.3
21.6
23.3
0)
103.8
60.4

11.2
10.5
7.3
7.2
0
74.7
21.7

15.0
13.9
10.2
11.8
0
81.0
34.3

31.2
26.1
21.5
21.1
P)
98.0
69.3

28.7
26.9
22.3
20.0
C1)
92.9
63.8

23.2
27.5
21.0
21. 4
0
92.7
54.6

19.4
20.2
15.8
13.8
0
95.2
55.8

25. 9
22.0
24.7
18.8
'
17.4
18.0
13.4
12.8
0
0
88.9
92.5
52.8
52.2;

18.4
32.0
31.1
15.5

25.5
39.9
21.3
17. 2
0
98.0
58.3

173. 8 2,261.4
Exports of TJ S merchandise totalO
-do_ __ 1,921.7 2,
r
Exd military grant-aid*
- do_ _ 1, 845. 5 2,105.6 2, 230. 0
By economic classes:
214. 7 241. 5
288.9
Crude materials
do
189. 4 211.7
209.0
Crude foodstuffs
'____.__ _do-— 124. 7 140.6
158. 1
278.4 338.9
351.9
Semimanufactures of
- do_ 1,241.2
1,114.4
1,
253.
4
Finished manufactures^ —
do
1, 037. 8 1, 173. 0 1, 222. 0
Excl military grant-aid*
do
By principal commodities:
Agricultural products, total 9

280.8
327.9
235.7
226.6
153.8
172.1
334.5
410.3
1, 237. 6 1, 440. 7
1,153.5 1, 388. 6

465. 4

528.9

575.6

607.9

669.2

Anlmal and vegetable oils and fats*
do. _
Cotton, unmanufactured
do
Fruits, vegetables, and preparations
do. .<
Grains and preparations!.
-do
Meat and meat preparations*.
_ -do _
Tobacco and manufactures A—__do

26.6
48.9
37.2
191. 7
12.3
43.6

35.8
57.5
36.2
215. 0
15.1
45.4

31.8
38.6
50.2
205.0
16.6
58.1

36.3
50.9
35.5
231. 3
15.2
58.2

53.5
97.9
38.1
232. 6
19.3
73.4

/'

210.4

325.8

696.2

553.9

532. 9

530.9

1,456.3 1, 644. 9 1,685.8 1, 634. 5 1,908.4 1, 020. 3 1, 249. 7 2, 245. 8 2, 031. 3 1, 864. 8 1,776.7
141.4
174.1
125.5 143.4
133.8
Automobiles, parts, and accessories ... do_._
192.6
200.5
234.8
Chemicals and related products!
- .do. _. 2161.9 193. 8
42. 1
40.2
36.0
37.9
47.8
Coal and related fuels.
do. _.
74.6
57.4
69.5
85.0
77.6
Iron and steel prod. (excl. adv. mfs.).,._do

Agricultural
.
Tractors, parts, and accessories
Electrical
Metalworking§
Other industrialPetroleum and products
Textiles and manufactures

do

453.4

528.7

554.4

520.1

636.7

do_-__
do
do
do
do

15.2
35.2
113.4
37.0
216.5

19.1
45.6
128.4
43. 4
249.3

14.5
48.0
139.9
46.8
258.2

16.5
41.0
137.7
42.4
242.1

18.1
47.5
156.4
58.6
299.2

do....
do

41. 0
57.8

39.3
67.1

41.7
72.5

37.2
68.0

44.2
78.7

General imports, totalO
do
Seasonally adlustedO
do
By geographic regions: O
Africa
do
Asia
do
Australia and Oceania/
do
Europe
do
Northern North America
do
Southern North America
do
South America
do
By leading countries: O
Africa:
United Arab Republic (Egypt Reg.)__.do
Republic of South Africa
do
Asia; Australia and Oceania:
Australia, including New Guinea
do
India
do
Pakistan _
_
do
Malaysia©
do
Indonesia
do
Philippines _
do
Japan.
do
Europe:
France
do
East Germany
do
West Germany
do
Italy
_
do
Union of Soviet Socialist Republics
do
United Kingdom
do
North and South America:
Canada .
do
Latin American Republics, total 9
do
Argentina __
do
Brazil
_
do
Chile
do
Colombia. ___
do
Cuba..
do
Mexico
_
do
Venezuela^..
_
do

548.1

459. 3

1,664.1 1, 701. 7,

484.7

587.0

1,649.2 1,824.9

r 1, 428. 2 1, 557. 1 1, 613. 0 1,671.7 1, 755. 0 1,112.9 1, 463. 6 2, 040. 2 1, 854. 9 1, 724. 1 1, 906. 9 1, 632. 9 1,717.6 1, 797. 5 1, 997. 1
1, 547. 7 1, 697. 7 1, 642. 2 1, 206. 4 1, 600. 5 1, 869. 0 1, 834. 7 1, 798. 9 1, 834. 8 1, 669. 8 1,725.4 1, 786. 8 2,002.0
27.9
217.1
20.8
239.0
325. 7
124.4
156.5

66.9
291.7
21.3
422.6
325.5
146.2
188.0

89.2
432.4
57.7
628.4
409.9
181.1
240.1

66.2
402.5
30.7
575.4
377.6
162. 1
240.4

75.3
339.9
38.0
542.3
398.6
145.4
183. 0

82.0
410.9
30.8
537.6
441.7
158.3
245.1

50.9
345.6
41.7
505. 7
400.5
114.5
173.2

68.4
394.7
36.7
486.8
408.3
123.1
198.9

89.1
423.4
47.4
489.9
414. 7
118.2
214.1

87.9
411.0
55.5
621.1
416.4
136.4
268.4

1.3
8.0

.3
22.8

5.0
19.5

1.3
19.3

1.4
17.4

1.0
18.8

2.6
8.2

.6
15.3

.5
27.6

.6
16.3

24.4
29.9
3.5
15.3
15.2
33.4
161.7

17.0
15.2
1.0
6.8
10.3
25.8
108.3

16.8
20.1
2.0
9.5
12.2
21.7
154.5

35.6
46.2
6.2
19.3
16.9
34.3
218.4

19.0
37.5
5.6
23.5
16.6
36.7
204.9

24.5
24.3
3.2
16.7
12.2
29.5
177.3

20.1
33.1
4.1
17.3
15.7
27.1
220.0

25.9
23.7
4.0
16.7
10.2
25.6
194. 5

25.1
28.0
4.2
13. 6
10.8
35.3
231.0

35.1
31.8
3.6
24.5
14.7
33.5
224.1

43.0
27.0
3.3
18.6
16.2
31.2
227.8

45.2
.3
119. 7
48.8
1.9
101.3

20.5
.1
46.0
22.1
4.7
57.6

41.5
.5
97.3
37.9
4.1
91.7

61.2
.7
133.5
59.3
1.5
126.1

55.6
.6
131.2
52.6
2.5
109.6

54.2
.6
110.3
49.7
2.2
115.5

63.5
.3
117. 6
54.8
2.6
112. 7

55.1
.2
110.6
49.1
3.3
118.4

53.3
.3
91.2
56.1
2.4
112. 1

41.7
1.4
110.4
53.1
1.9
111.8

54.7
.3
135.7
58.5
8.2
148.2

64.8
266.0
41.8
401. 1
319.4
127.2
207.6

76.4
301.5
36.6
442.3
353.7
136.6
209. 1

82.7
315.8
32.5
466.7
388.8
123.2
202.3

84.0
322.6
32.6
503.3
362.1
123.2
242. 6

79.6
329.3
37.6
519.4
381.5
147.6
259.3

1.7
21.6

1.4
20.8

.5
20.1

.8
24.5

.5
27.6

26.6
24.5
3.8

23.4
25.4
3.3
13.3
14.1
32.3
147.4

23.4
26.0
2.5
11.9
12.9
33.1
159.5

26.3
26.7
3.7
12.2
14.7
32.8
165.8

35 9
41.3
.3
.6
83.6 ' 97.6
41.1
43.9
1.7
1.7
89.9
95.1

43.0
.7
101.8
48.2
1.6
103.3

50.6
.6
113.5
56.1
2.1
112.8

9.4
29.8
124.8

353.4
381.4
388.6
361.7
293. 7
275.1 321.1 352.4
9.3
7.5
6.7
11.7
44.5
71.4
59.2
36.6
18.2
20.0
14.2
28.8
23.4
28.5
34.0
35.5
0
0)
0)
0)
53.6
48.5
46.6
54.4
79.7
69.2
82.5
80.0
r
Revised.
" Preliminary.
1 Less than $50,000.
21BeginningI Jan. ] 963, ex(eludes
exports Of
materials coal-tar
nnpi.tor and
QT.H synthetic
o^r
of certain fertilizer materials,
resinous products, chemical specialties, etc.; in 1962, such exports totaled $52.6 mil.
JSee similar note on p. S-21; for exports, see also note "t" on p. S-21
9 Includes data not shown separately.
QSee similar note on p S-21
<?Data for semimanufactures reported as "special category, type 1" are included with
finished^manufactures.
*New series. Data for periods not shown may be obtained from




93.1
49.9

2, 242. 4 2, 577. 6 1, 230. 7 1, 575. 5 2, 942. 0 2, 585. 2 2,397.7 2, 307. 6 2, 212. 2 2, 161. 0 2, 133. 9 2,411.9
2, 158. 3 2, 525. 5 1,171.4 1, 491. 1 2, 859. 6 2, 502. 0 2,350.8 2,190.9 2, 139. 5 2, 096. 21 2, 111. 1 2, 387. 4

do--_-

Machlnerv total § 9

0)

319.1
287.6
13.7
46.8
15.7
20.7
0)
49.5
78.0

1

c,-^n

}

416.0
413.5
407. 6
399.4
441. 5
377.4
398.3
409.8
325.2
325.6
348.5
276.2
270.4
344.2
238.6
359.5 338.5
274.3
280.4
222.3
11.3
10.4
11.8
8.9
11.1
11.1
11.5
10.3
8.4
6.1
65.6
54.3
36.1
27.8
38.9
37.2
36.4
49.6
24.6
16.6
24.9
18.9
11.9
9.9
22.3
30.3
15.1
13.8
18.4
9.4
31.4
24.1
18.8
22.8
25.2
24.2
26.2
20.7
8.4
17.3
0
0
0
0
C1)
0
0
0)
C1)
0)
47.3
39.2
41.8
39.3
61.9
64.7
61.1
57.2
43.7
52.5
84.5
68.9
77.5
71.1
92.2
101.9
96.8
66.3
86.0
92.7
tRe vised to n elude S ITC iteins classiiied as" cereals aiid prepa rations" not coni parable
A^4-^ ~,,V H^.U«^l 4,-, <-v,« 1 nc
VI? V 1S<31 IPS; nrinr tr» TsTmr
with data
published in the 1963 BUSINESS STATISTICS andA i-n
in Girt
SURVEY
issues prior to Nov.
1963.
AManufactures of tobacco are included in the nonagricultural products total.
§Excludes "special category, type 1" exports.
©For certain recent months, the data by regions and countries exclude imports unidentified by area of origin.
8 Country designation established Jan. 1964.
-r-rri+l-,

SUEVEY OF CURRENT BUSINESS

December 1965

Monthly
average

1965

1964

1963 | 1964

Unless otherwise stated, statistics through 1962
and descriptive notes are shown in the 1963
edition of BUSINESS STATISTICS

S-23

Nov.

Oct.

Dec.

Jan.

Feb.

Mar.

Apr.

May

June

July

Aug.

Sept.

Oct.

Nov.

OF THE.UNITED STATES—Continued
FOREIGN TRADE— Continued
Value t— Continued
Imports for consumption, total
By economic classes:
Crude materials
Crude foodstuffs
Manufactured foodstuffs and beverages
Semimanufactures
Finished manufactures
By principal commodities:
A gricultural products, total 9

mil. $

1,416.7 1, 550. 0 1 643.5 1, 655. 1 1, 720. 4 1, 138. 1 1, 488. 6 1, 999. 2 1, 820. 7 1, 719. 6 1, 878. 0 1, 635. 5 1, 728. 8 1, 794. 9 2, 003. 9

do
do
do
do
do

274.0
143 8
166 5
300.7
531.7

287. 0
169. 5
151. 0
332.4
610. 1

296.1
182 1
168.6
331. 5
665. 1 ,

282.7
202. 6
176.7
337. 1
655.9

313.5
200.1
165. 4
357.8
683. 6

253.0
78 5
77.3
300. 1
429.2

do.

335.0

342. 0

350.9

384. 4

372.9

175.2

269.4

11.3
79 7
16 4
50.9
18.8

10.9
100.0
16.7
38.2
17.1

11.2
106 7
13 7
44.6
12.4

126.9
17.0
43.4
15.9

8.8

11.8
116.8
18.9
37.9
22.0

3.8

10.2
69.1
11.2
17.3
13. 9

1,081.7

1,207.9

1,292. 5 1,270.6

1,347.5

* 10 9
59 4

19.7
68.3

4.7

15 4
69 4

12 6

9. 5

10.5

10. 2

9.6

10.2

12.1

8.8

13.7

10.8

11.6

10.9

13.7

13.7

11.1

11.4

16.9
• 1 21.6
91

16. 6
28.4

11,4
26.1

14.2
4 9

16.9
29.2

8.3

23.1
24.1
17.2

21.3
23.4
10.9

24. 4
22.1
13.0

32. 6
26.6
12.7

25.1
23.0
10. 5

24.4
27.9

7.6

14.5
48.7
10 7

6.5

9.3

13.5
30.1
98

9.2

20.3
25.4
16.5

23.9
35.4
13 1

33.8
30.1
62.7
57.3
i
156.
0
149. 1

35.1
66.3
142 7

35.6
68.6
144.9

36.7
73.0
174 3

29.1
53.1
184.8

46.8
53.9
163.3

41.9
69.2
198. 8

35.8
62.7
186.7

34.4
64.9
144.3

39. 8
72.4
192.2

34.9
64.4
147. 4

37.4'
65.1
159.4

36.4
70.5
164.1

36.3
67.6
172 0

127
128
101

143
146
102

150
155
104

145
150
104

169
176
104

77
81
105

97
104
107

187
199
106

164
174
106

155
164
105

142
152
107

127
122
96

135
133
99

143
141
99

144
142
99

150
148
99

94
95
101

125
125
100

175
174
100

161
158,

149
147
99

164
163
99

14 351 Ifi 426 14 628 14 962
1,449 5 1 503 6 1 491 2 1 750 2

6 508
601 2

17 9
173.1

Cocoa (cacao) beans, incl. shells
„ do _
Hoffep
do
Rubber crude (incl. latex ai^d guavule) do
Sugar (cane or beet)
__ ___
do
Wool and mobair, unmanufactured ...do
Nonagrlcultural products, total 9 ---

do

Furs and manufactures
__
do
Iron and steel prod. (excl. adv. mfs.) __do
Nonferrous ores, metals, etc.:
Bauxite, crude* __
•_•__
__do
Aluminum semimfs (incl. calcined bauxite) *
mil. $..
Copper, crude and semimfs.* _
do
Tin, including ore
do
Paper base stocks
Newsprint
_-—
Petroleum and products

do
_-_-do.__do

Indexes
Exports. (U.S. mdse., excl. military grant-aid) :f
Quantity
1967-59=100-.
Value
do
Unit value
_
do
Imports for consumption:
Quantity..
_...__doValue
do
Unit value
.
do
Shipping Weight and Yalue
Waterborne trade:
Exports (incl. reexports):!
Sbipping weight
tnous sh tons
Value
mil $
General imports:
Sbipping weigbt
tbous sb tons
Value
mil $
Airborne trade:
Exports (incl. reexports) :f
Sbipping weight
tbous sh tons
Value
mil $
General imports:
Sbipping weight
tbous sh tons
Value
mil $

1

13 084
1 257 2

4 7
71/. 0

89.0

24 9

7.6

15.1
15.7

420.4

369.0

338.8

345.2

262.3

319. 0

11.8
126.5
18.3
26.5
31.8

9 2
83. 7
24.0
38.6
27.4

13.8
77.3
13.3
47.3
17.6

13.2
89.7
16.9
42.5
18.6

8.6

11.3
77.8
11.2
42.7
19.1

59.4
12.8
22.3
16.9

354.1 ' 411.2

14.5
83.6
15.3
48.8
20.1

8.9
128.7
17.4
50.9
17.9

962.9 1, 219. 2 1, 578. 8 1, 451. 7 1,380.8 1,532.8 1, 370. 6 1, 409. 8 1, 440. 8 1, 592. 7

17 707 19 481 19 686 20 419 19 499 18 164
1 031 9 1,120 2 1 137 0 1 213 4 1 250 1 651 8

13.4

14.0

8.9

11.2

16. 0

98

7.6

7.1

6.5

6 5

8 555 15 000 15 068 15 598 15 753
836 7 1 963.6 1 712 1 1, 558. 0 4, 411. 6
17 294
985 8

22 016 21 783 r!9 906 25 271
1 465 8 1 373 9 rl2 072 1, 364. 7

10 3
136 5

13 6
153 7

15 8
169 7

13 9
140 2

• 17 7
187 4

14 9
140 7

19 9
175 2

21 5
197 4

19 0
189 1

19 1
193.7

17 7
182.5

17 5
180.3

18 2
189.6

4 7
68 0

5 4
79 7

7 3
93 9

7 0
89 9

86
108 8

6 5
89 1

8 4
104 9

78
102 4

69
98 4

6 2
100 3

9 2
103.9

7 5
104.9

95.1

94.0

82, 126
73, Oil
16, 478
6,293
4,595

83, 597
77, 612
17, 179
6,753
4,917

79, 712
86, 677
17, 711
6,093
4,200

6.8

8.1

TRANSPORTATION AND COMMUNICATIONS
TRANSPORTATION
Air Carriers
Scheduled domestic trunk carriers:
Financial operations (qtrly. avg. or total) :
Operating revenues, total?....
.mil. $__ 621.9 • 707.7
Transport, total 9
„ _ _ _ _ _ _ . __._._do
617.1
701. 3
Passenger. _ _ „
__________
d o _ _ _ _ 557. 0
631. 8
Property
______ j
do
46. 8
40.3
U.S. mail..
___
_
_ _ _ . do
16.4
15.0
Operating expenses (incl. depreciation) _ _ _ d o _ _ _ _ 589.2
632.6
Net income (after taxes)
___do_-«.
34.0
3. 3
Operating results:
Miles flown (revenue).
thous
63, 828 68. 506
Express and freight ton-miles flown do.... 49, 195 60, 576
Mail ton-miles
flown
...do
-14, 167 15, 390
Passengers originated (revenue)
do_
5,158
4,548
Passenger-miles flown (revenue)
mil.. 3,048
3,490
Express Operations
Transportation revenues...
„ _ _ _ _mil. $
295.9
Express privilege payments. „ - _ _ _ _ _ ______7_~_ _do__II ~ 2 28. 3
Local Transit Lines
Fares, average cash rate- -___..
cents
P assengers carried (reven ue) ...."_"_""
mil" "
Operating revenues (qtrly. avg. or total) _ _ _ _ m i L $11

20.5
576
347.6

725.0
717. 7
639.9
51.0
18 8
654.1
37.8
71, 735
72, 323
16, 145
5,509
3,610

67, 518
60, 756
14, 626
5, 030
3,224

2 2103. 1
29.5

21.2
571
352.0

70, 922
70, 782
22, 319
5,338
3,668

73, 511
59, 440
15, 630
V
5,450
3,747

67, 414
60, 734
15,111
4,861
3,248

21.7
561

21.7
599
370.9

76, 406
71, 822
17, 549
5,535
3,703

75, 541
69,963
17, 616
5,940
3,979

78, 016
74, 822
16, 631
5,774
3, 879

21.9
553

21.9
524

21.9
606
338.7

1

78, 263
74, 473
16, 944
6,314
4,475

106. 7
31.1

103. 7
28.2

101.9
27.4

112. 5
31.7
21.4
610

832.1
825 7
743. 8
53.0
18 1
708.2
65.4

735.4
728 3
654. 3
48 9
16 9
677. 7.
30.1

21.9
593

21. 9
577

22.0
564
367.1

22.2
520

'22. 2
516

22.2
559

22.2
591

\
Motor Carriers (Intercity)
Carriers of property, class I (qtrly. avg. or total):
3
Number of reporting carriers
1, 018 3 1, 018
1,018
1,128.
Operating revenues, total
mif i
1,435
1, 544
1,632
1,646
Expenses total
~" r\
1, 374
1,473
1,591 ._.
1,571 .
__.
_-—
Freight carried (revenue)
--mi! tons
84
100
_-___-92
98
p
« JLR?v?sedPreliminary.
^Effective Sept 1 963, data reflect a doption of U.S. 1'ariff
{See- similar. note on p. S-21.
9 Includes data not shown separately.
*Jgw.^iets'
Schedules and are not entirely comparable with ear lier figui"es; also, beginning Sept. 1963,
Data for periods not shown may be obtained from Bu. of Census reports.
tKevisea u>
certain uranium bearing materials, formerlv shown under cm cie mater lals, are included with
exclude military grant-aid shipments; comparable earlier data will be shown later.
***•semimanufactures (monthly averages reflect this ch ange begginning J an. 1963). Begin ning
eludes "special category" shipments and all commodities exported under foreign-aid programs
Jan. 1964, data for furs and 3mfrs. and petroleum and p roducts r eflect fur ;her changes in U 3TS.
as Department of Defense controlled cargo.
ISee siinilar note on p. S-21.
§ Quarterly average.
Number of carriers film? p.nmnlafa i rorknrtQ ir\f 1QAQ QTiH IQfi/i




SURVEY OF CURRENT BUSINESS

S-24
1963

Unless otherwise stated, statistics through 1962
and descriptive notes are shown In the 1963
edition of BUSINESS STATISTICS

1964

December 1965

1964

Monthly
average

Oct.

Nov.

1965
Dec.

Jan.

Feb.

Mar.

Apr.

May

June

Aug.

July

bet.

Sept.

Nov.

TRANSPORTATION AND COMMUNICATIONS—Continued
TRANSPORTATION— Contiinied
Motor Carriers (Intercity)— Continued

\

Freight carried, qtrly. index of volume, class T and
II (ATA)
average same period, 1957-59 =100- _ 1 126. 3 U37.6
Carriers of passengers, class I (qtrly. avg. or total) :§
Number of reporting carriers
2158
2158
Operating revenues, total
mil. $_. 155.7
164.1
Expenses, total
do
135. 3
142.7
Passengers carried (revenue)
_ _ _ _ _ _ _ _ _ _ _ m l l _ . 131. 8
126.7
Class I Railroads
Freight carloadings (AAR) :
Total cars
..
Coal
Coke
Forest products
Grain and grain products...-:

thous
do
do
__do__ .
do

Livestock
^__^
_ _ „ _ „ _ do
Ore
do
Merchandise, l.c.l
do
Miscellaneous
_._.do Freight carloadings, seas. adj. indexes (Fed. R.):f
Total
1957-59=100
Coal
do
Coke
-- - -do
Forest products
do__
Grain and grain products
do
Livestock
do
Ore
_ -_'_
do
Merchandise, l.c.L
do__
Miscellaneous
do

2, 406

461
,

32

156

2 453

462
41
163

234

219

14

13

147
72
1,290

*93
95
88
96
102
52
84
36
95

168
53
1,334
4

139.2

141 9

151.4

158

147

147

3

3 150
3 589
3 47
3 196
3310

3 30
3 262
3 58
si §58

96

QK

95
113
100
96
49
97
27
98

95
129
99
109
4.8
90
QK

r

2 342
' 455
r 38

2 074

9 118
497

3 9 ^71
3 e-io

3 47

148

44
139

3 I7g

410
36
147

221

180

3231

178

18

10

7

1 189

3 11
3 81
3 4fi
3 1 4.fin

QQ

inn

90
125
100
97
46
143
22
103

no
10Q

no
07

I KA

41

r 1 967
QQ
Q7
99

99
1 oc
oq

inn

150.8
127.2
53.3

118 5
113 8
47 0

157 9
140 6
128 1

72
39
1 185

2

f QK

409
36
152
193

2 381

211
5

36

7

s 290
3 44
3
1 493

222
34

192
33

1 221

1 220

95
98
122
103
82
33
90
20
99

94
101
117
99
101
34
86
18
96

94
95
95
102
102
35
81
17
96

455
35
151

180,
8 (

225
37

1 332

1 257

99
99
108
103
97
36
136
21
100

101
104
107
105
98
36
95
22
104

94
98
109
95

8 164

QQ

AR

AR

110
22
102

nn
21

Q9

Q7
49

-ino

3 3 108
3 610
31 j 33 36
158
200
3
200
284

2 292
'448

3 2 768
8427
3
43
3
189
3276

2 376

456
35
159

206
39

1 -iq
oo

infi

2 415

3 49
1 265 8 i 616

98
101

Q4.

2 848
3 533
8
47
8 193
8236

41

91
99
99
87

106

8

8 10
81

148.8

\ 95
/ 31 i

87
20
97

Financial operations (qtrly. avg. or total): A
Operating revenues, total 9
—mil. $__ 2,389.9 2,464.1
2, 038. 6 2 113 9
Freight
do
147.0
Passenger
do
144 5
ODeratmer expenses
.
do
1,862.9 1, 934. 5
325 1
325 6
Tax accruals and rents
do
201.4
Net railway onerating income
204.5
H ---do___ .
174.5
Net income (after taxes)
__ _ _do
162.9

2, 526. 3
2 168 7
134 6
2^037 5
302 6
186 1
182 1

2, 382. 5
2 064 7
125 9
1 899 6
320 1
162 8
121 2

2, 581. 8
2, 240. 5
139.4
1, 963. 2
360 8J
257. S
213.3

Operating results: A
Freight carrier! 1 mile (qtrly.)
bil. ton-miles. _ 6158.9 5 167. 7
Revenue per ton-mile (qtrly. avg.)
cents_. 5 1.310 6 1. 282
Passengers carried 1 mile, revenue (qtrly.)--miL. 8 4, 624 s 4, 562

172 0
1 269
4 163

165.2
1 270
3 820

180.2
1,258
4,333

479
35
161

221

11

3

26
3
228
3
41
3
1 683

f

93
97
82
102
99
41
83
17

95

2 347
'472

29
160
238
16

129
31
1,273

98
100
80
106
107
50
113
17
99

2,575.1
2,214.8
156.0
250.1

Waterway Traffic
Clearances, vessels In foreign trade:
Total U.S. ports
thous. net tons
Foreign vessels
do
United States vessels
do

15 628
12 786
2 842

16 854
13 909
2 945

thous Ig tons
do

5 454

6 184

780

896

QQn

Travel
Hotels:
Average sale per occupied room
dollars
Rooms occupied
% of total
Restaurant sales Index
same mo 1951—100

9 37

9 53

m 94.

Panama Canal:
Total
In United States vessels

Foreign travel:
U.S. citizens: Arrivals...
.___
Departures
_
Aliens: Arrivals
w__
Departures
Passports issued and renewed-National parks, visits f
Pullman Co. (qtrly. avg. or total):
Passenger-miles (revenue).
Passenger revenues
_

thous__
do
_do
do
do
do

fin
109

218
216
130
110
88

61
111

2, 779

243
6238
157
138
94
2,831

629
mil..
thous. $__ 10, 477

9,441

10

1 KA

U
3

QO9
0 eo

1fi 74.n

6, 156

847

16 714
13'? 942
2 772

6

9

no

238
195

173

186
123
130
50

CCA

12 878
10 918
1 960
5 160

CAR

oqn

57

ISfl

12 605
in ^91
9 ns4

77Q

9

0ft

652

9 54

56

fii

206

179
225
102
96

907

i °.n
Q7

QK

16 996
14. inn
9 &Qfi

17 758
14 800
o 958

7 fi7n
899

fi QQB
884.

9 14

9 96

no
243
234
1 °>fi
115

782

18 553 18 598
15 355 ( 15 743
3 198/ 2 855

19 026
16 259
2 767

18 572
15' 648
2 924

6 467
*835

6 855

496

6 809
*628

6 035

738

7 065
' 767

9 36

10 03

9 10

9 99

10 15

10 44

6 631

1 ^4

284
296
171
159

1 4fi7

2 393

231
978

ifio

57
112

63
115

OE

' 123

-jco

175

r

g 074

r c K7Q

65
106

105

r

g 346

716

66
116

7n
112

an

CQ

3 631

2 534

555

476
7,989

528
9 066

473
8,054

556
9,385

5 2 735
5 i 480
s 957
s 1 624
77 4

2835 2
1,518.5
1,005.7
1,715.6
488.9
77.4

2,833 3
1,531.5
987.6
1,687.6
505.2
78.3

2 80,6 2
1,547.3
1,028.2
1,750.8
518.5
79.2

2, 964. 2
1, 573. 4
1,064.1
1, 764. 6
537.8
80.4

71,706 55 674 853
663,281
66 041
6
5 041 s e 5 272

75,432
64,860
8 194

73,656
65,493
3 862

77,319
67,603
5,609

77, 300
68, 584
5,304

24 422 5 26 861
19 229 5 20 744
5 3 529 5 4 401

27 310
21 158
4 143

27187
21,258
4,720

28756
22,146
5,302

27, 033
21, 205
5,038

59

COMMUNICATIONS (QTRLY.)
Telephone carriers:
Operating revenues 9
mil $
Station revenues
do'
Tolls, message. . __
do
Operating expenses (before taxes)
do
Net operating income
do
Phones in service, end of period
mil
Telegraph, cable, and radiotelegraph carriersWire-telegraph:
Operating revenues __
thous $
Operating expenses, inch depreciation
do
Net operating revenues
do
Ocean-cable:^
Operating revenues
do
Operating expenses, incl. depreciation
do
Net operating revenues
.
do
Radiotelegraph : cf
Operating revenues
_ do
Operating expenses, incl. depreciation __do
Net operating revenues
_ _ _ _ _ _ do

5 2 537
s I 396
5869
s 1, 487
56442
73 7

5 6481

'Revised. 3 i Annual index.
2 Number of carriers filing complete reports for 1963
and 1964.
Data cover 5 weeks; other periods, 4 weeks.
* Based on unadjusted data.
Quarterly average. « Based on revised total; monthly or quarterly revisions not available
fe Effective 1st qtr. 1965, carriers reporting both intercity and local and suburban schedules
are classified as intercity if intercity revenues equal or exceed 50 percent of revenues from
both operations.
f Revisions for 1962 are in the Aug. 1963 SURVEY.
9 Includes data
not shown.




~

i

AEffective 1st qtr. 1965, class I railroads are those having annual operating revenues of
$5,000,000 or more; prior to 1965, those with $3,000,000 or more.
• ^Beginning Jan. 1965, visits to Canyonlands Natl. Park are included; such visits for the
first seven months of 1965 totaled 12,500.
<j"Effective Sept. 1964, ocean-cable and radiotelegraph carriers have been classified by FCC
as "international" telegraph carriers; quarterly data beginning74th qtr. 1964 cover operations
for this group.

SURVEY OF CURRENT BUSINESS

December 1965
Unless otherwise stated, statistics through 1962
and descriptive notes are shown in the 1963
edition of BUSINESS STATISTICS

1963

1965

1964

1964

Monthly
average

S-25

Oct.

Nov.

Dec.

Jan.

Feb.

Mar,

Apr.

May

June

July

Aug.

Sept.

Oct.

Nov.

CHEMICALS AND ALLIED PRODUCTS
CHEMICALS
Inorganic chemicals, production:
r
1, 385
1,439
1,401
1,271
1,425
1,420
1,408
1, 330 ' 1, 442 '1, 432 '1,418
Acetylene
mil. cu ft ••1,228
Ammonia, synthetic anhydrous (commercial)
698.2
707.2
721.5
707.9
699.6
679.3 650.4
717.6
640.2
thous. sh. tons__ 556.8
630.0
613.9
114.2
91.4
80.1
111.7
90.2 '93.3 '92.4 '81.5 '84.8
107.7
94.3
Carbon dioxide liquid gas, and solid
do
83.6
540.0
482.1 548.0
524.5
544.7
533.0
455. 3
529.4
523.6
491.1 513.5
502.5
Chlorine gas (100% Cb)
do
105.8
109.2
106.2
107.
4
98.1
106.2
90.0
106.4
108.7
114.5
107.3
102.3
Hydrochloric acid (100% HC1)
do
350.2
291.4
439.5
415.1
351.5
445. 2
460. 1 409.5
353.6
384.1 419.5 r 420.1
Nitric acid (100% HNOs)
do
Oxygen (high purity)
_
mil. cu. ft— '10,712 '13,199 '13, 973 14, 131 '14,608 15, 080 14, 263 16, 321 15, 603 15, 314 15, 057 15, 064
306.9
304.4
338.1 350.9
284.1 272.2
324.0
272.6
278.6
275.3
271.9
Phosphoric acid (100% PjOs)
thous. sh. tons__ 242.1
Sodium carbonate (soda ash), synthetic (58%
436.5
398. 5 411.8
382.5
406.8
415.9
390.1
402.6
428.3 394.0
Na20)
thous sh tons
412.6 428.6
9.5
11.4
12.2
12.4
11.2
11.6
12.2
11.6
11.2
11.4
11.3
Sodium bichromate and chromate
do
11.3
572.0
569.4
549.7
568.4
498.1
571.9
525.2
557.8
484. 5
557.0
Sodium hydroxide (100% NaOH)
do
539.7
518.3
Sodium silicate (soluble silicate glass), anhydrous
45.4
46.6
45.7
42.2
48.9
56.1
44.1
46.8
45.9
57.1
46.7
thous. sh. tons..
47.1
Sodium sulfates (anhydrous, refined; Glauber's
108.1
105.3
119.6
104.0
114.9
114.3
115. 5
112.4
111.2
112.1
salt; crude salt cake)._
thous. sh.tons.. 102. 7
108. 5
Sulfurlc acid (100% H2SO4)do- 1, 744. 7 1910. 3 1,959.0 1,933.5 2,037.1 1,957.9 1,931.9 2, 044. 2 2, 101. 2 2, 116. 3 2, Oil. 0 2,001.6
Organic chemicals, production: cf
Acetic acid (synthetic and natural)
Acetic anhydride
Acetylsalicylic acid (aspirin)
Creosote oil
DDT
rail.
Ethyl acetate (85%)
Ethvlene glycol
Formaldehyde (37% HCHO)
Glycerin, refined, all grades:
Production
Stocks end of month
Methanol:
Natural
Synthetic
Phthallc anhydride
ALCOHOL
Ethyl alcohol and spirits:
Production
Stocks end of month
Used for denaturation
Taxable withdrawals
Denatured alcohol:
Production
Consumption (withdrawals)
Stocks end of month
FERTILIZERS
Exports, total 9
Nitrogenous materials
Phosphate materials
Potash materials
.

mil Ib
do
do
mil. gal
Ib
do
do
do

87.1
106.0
2.4
8.2

1

92.8
116. 2
2.4
!9. 6

14.9 U0.3
19.8
8.7
138. 3 1 149. 5
'211.4 '229.4
1

94.9
118.3
2.5
9.8

112.6
118.9
2.2
10.6

100. 0
135.8
2.5
12.0

(3)
6.4
169.3
252. 9

(3)
11.1
150.7
238.6

(3)
7.5
161.4
247.3

26.3
30.1

1,358

1,140

' 707. 4
112.6
'535.2
102.9
386.7
'15,571
330.3

701.4
104.2
517.2
108.9
400.7
14, 425
315.1

409.2
10.6
558.4

398. 5
12.0
527.8

50.3

51.0

__
__

__

' 122. 0
117.1
'2,120.9 2, 088. 8

114.9
2.4
28.2

114.7
2.0
7.9

126.7
2.5
10.3

117.0
2.4
10.0

116.5
2.3
10.4

134.6
1.9
9.3

128.4
2.3
10.7

128.0
2.3
9.0

156.5
2.6
8.7

134.4
3.0
7.9

__
__
__

10.7
3.3

11.3
8.8

11.1
9.1

12.8
8.1

13.7
10.1

13.4
' 8.7

13.2
8.7

13.5
8.7

11.3
13.2

9.6
10.9

__

234.4

229.4

264.3

256.7

250.3

263.0

253.2

252.3

' 274. 1

252.8

__

26.2
27.6

31.8
32.6

26.2
37.3

30.7
32.2

25.1
27.6

31.4
30.1

31.6
25.5

25.7
28.6

30.3
28.2

27.9
29.8

33.7
32.6
34.9
47.5

25.3
24.3

26.7
28.6

25.3
29.6

mil gal
do
mil Ib

.1
29.3
138.2

.1
32 7
46.3

.1
34.1
56.5

.1
34.0
47.3

.1
37.7
49.2

.1
36.1
46.9

.1
31.7
42.7

.1
33.2
50.8

.1
36.1
48.6

.1
37.4
51.3

.1
37.2
46.3

.1
37.2
49.1

.1
35.9
48.1

.1
34.0
47.7

mil tax gal
do
do
do

57.7
171. 5
44.4
5.3

57.0
186.7
45.9
5,7

69.2
184.3
44.8
7.8

60.7
188. 7
47.1
6.7

59.7
192.9
46.3
5.5

51.5
186.3
50.7
4.9

54.6
191.7
43.5
4.9

64.2
191.2
55.6
6.6

54.0
187.0
52.2
5.6

58.9
190.4
50.8
5.3

55.5
190.9
50.5
6.1

56.9
191.1
51.0
4.9

54.9
196.3
45.4
5.3

60.6
196.3
46.1
6.1

mil wine gal
do
do

23.9
24.0
3.0

24.7
24.7
3.5

24.5
25.6
3.4

25.4
24.7
4.0

24.9
25.5
3.4

25.6
26.4
3.3

23.4
22.8
4.0

31.0
29.6
5.0

28.0
28.8
6.0

27.2
27.5
5.8

27.1
27.9
5.1

27.4
27.0
5.6

24.3
24.7
5.2

24.8
25.2
4.7

thous sh tons
do
do
. do

625
55
488
59

798
67
595
86

1,044
117
817
91

744
44
522
122

1,038
135
721
129

4535
431
4408
459

525
39
430
43

874
44
687
89

1,077
125
826
68

835
107
650
57

1,026
78
828
77

1,005
126
703
116

1,039
97
803
101

935
157
624
120

1,119
151
805
129

205
21
20
73
34

233
17
15
100
30

219
19
14
116
25

239
16
16
119
24

237
12
14
112
30

11
23
99
26

9
24
123
23

14
30
159
33

17
28
204
72

17
11
133
32

12
8
71
42

16
10
76
26

19
6
191
22

14
14
179
17

14
7
227
8

227

257

296

181

196

357

206

348

459

301

116

199

357

234

269
419

289
379

296
373

289
407

294
431

303
400

295
395

333
336

353
224

343
220

305
348

275
450

304
459

301
408

do
do

Imports, total semimanufactures* 9
Ammonium nitrate
Ammonium sulfate
„
Potassium chloride
.
Sodium nitrate

do
do
do
do
do

Potash deliveries (KaO)
do
Superphosphate and other phosphatic fertilizers
(100%P205):
Production
thous sh tons
Stocks, end of month
.
do
MISCELLANEOUS PRODUCTS

Explosives (industrial), shipments, quarterly:
Black blasting powder
thous. Ib
6284
5236
High explosives.
do
6301,665 5320,403
Paints, varnish, and lacquer, factory shipmentsTotal shipments
<___
mil $
166.8
8157.5
Trade products
_ _
do
97.8
893.8
69.1
Industrial
finishes
.
,. do
863.7
Sulfur, native (Frasch) and recovered:©
521
Production
thous Ig tons
.M86
4,660
Stocks (producers'), end of month
do
4,875
PLASTICS AND RESIN MATERIALS
Production:
Cellulose plastic materials
mil. lb_.
13.4
12.7
Thermosetting resins:
Alkyd resins
__.
___
.do
!50.5 1 45. 4
Coumarone-indene and petroleum polymer
resins.
_
_
mil. lb_. '29.5 J28.3
Polyester resins
_
do
J21.2 125.7
Phenolic and other tar acid resins. _ _ ^ _ _ . do
'61.7 *67.8
Urea and melamine resins
„ _ _ _ _ _ _ _ do
U3.2 *43.9
Thermoplastic resins:
Styrene-type plastic materials (polystyrene)
mil. lb__ 11 124. 5 11 144. 8
Vinyl resins (resin content basis)
do..." 146. 7
169.5
Polyethylene
„___
do
U89.2 1 217. 1

321
337, 431

173
396, 339

163. 1
95.3
67.8

145.8
80.7
65.1

133.7
66.2
67.5

141.3
74.7
66.6

155.9
85.9
70.0

184.4
101.8
82.6

191.9
110. 3
81.6

201.8
121.9
79.9

216.9
129. 6
87.3

200.6
124.3
76.8

195.7
122.0
73.7

188. 0
112.6
75.4

476
4,588

553
4,562

596
4,403

610
4, 476

560
4,500

614
4, 451

594
4,333

625
4,272

611
4,178

627
4,058

628
' 4, 001

531
3,846

14.6

14.2

14.4

15.8

11.8

12.6

15.6

51.1

50.0

54.5

47.7

51.6

51.8

25.4
35.5
72.9
48.2

28.7
32.1
66.9
40.0

26.6
32.1
76.1
46.3

27.4
31.6
84.3
55.8

168.9
181.4
256.4

168.2
150.4
169.9 ' 185. 9
254.3 262.3

179.2
197.5
264. 7

13.6

14.8

14.2

10.3

12.1

45.7

38.2

39.0

41.9

44.4

32.0
28.4
75.1
49.1

27.2
25.1
68.0
44.2

25.3
25.9
69.0
45.3

24.8
24.5
69.2
43.0

25.4
28.9
68.8
43.6

29.9
33.9
80.2
47.5

28.7
34.5
76.4
44.2

26.1
33.7
71.8
46.9

150.1
190.4
215.0

155.1
174.5
216.8

158.0
178.4
223. 8

159.8
182.2
229.1

145.5
168.8
216.2

171.9
194.4
241.2

165. 4
190 8
237.8

167.8
181.6
256.9

' Revised.
1 Based on annual total containing revisions not distributed by months.
2
Beginning Jan. 1965, data exclude creosote in coal-tar solutions 4(formerly included); these
averaged 927,000 gallons per month in 1964. 3 Not available.
See note "O" for P- S-21.
5 Quarterly average.
e Beginning Jan. 1963, the estimated totals are based on a new and
larger sample and reflect improved estimating methods, which affect comparability with
data for earlier periods; Oct.-Dec. 1962 estimated totals on the new basis appear on p. S-25
of the Feb. 1964 SURVEY.




160
387, 057

310
279 164

53.9

178.1
99.7
78.4

cf Data are reported on the basis of 100% content of the specified material unless otherwise
indicated.
9 Includes data not shown separately.
*New series. Data exclude some materials (chiefly crudes) shown in the former series.
Monthly data prior to Jan. 19fi3 may be obtained from Bu. of Census reports.
0Monthly data for 1952-62 (1962 revised) appear on p. 28 of the Dec. 1964 SURVEY; production for Aug. 1957 should read 517,000 long tons.

SUKVEY OF CUKKENT BUSINESS

S-26
Unless otherwise stated, statistics through 1962
and descriptive notes are shown in the 1963
edition of BUSINESS STATISTICS

1963

1964

1964

Monthly
average

December 1965

Oct.

Nov.

1965
Dec.

Jan.

Feb.

Mar.

Apr.

May

June

July

Aug.

Sept.

Oct.

Nov.

ELECTRIC POWER AND GAS
ELECTRIC POWER
Production (utility and industrial), total O
mil kw.-hr
Electric utilities total
do
TF$ v fuels
do
By waterpower
__do
Privately and municipally owned util
Other producers (publicly owned)
Industrial establishments total
By fuels
By wnterpower
^ales to ultimate customers total (EEI)
Commercial and industrial:
Small lisht and power5
I/irse light and power§
Railwavs and railroads
Residential or domestic

84, 007
76, 177
62, 393
13,784

89, 900
81, 646
66, 986
14, 660

89, 382
80, 941
66, 907
14, 034

87, 976
79, 753
65, 600
14, 153

95, 713
87, 222
71, 046
16, 176

1 96. 621
i 87, 979
170,729
1 17, 250

88, 136
80, 206
64, 447
15, 759

96, 601
87, 839
70, 490
17, 350

90, 336
81, 852
64, 997
16, 856

93, 320
84, 745
68, 134
16, 610

96, 142 101, 631 403,858
87, 761 93, 102 95, 240
72, 023 77, 178 79, 571
15, 738 15, 924 15, 670

97, 081
88, 877
73, 875
15, 002

95, 722
86, 985
71, 675
15, 310

do
do

62, 096
14, 081

66, 942
14, 703

66, 667
14, 274

65, 530
14, 223

71, 455 171,187
15, 767 1 16, 792

65, 049
15, 157

71, 185
16, 655

67, €36
14,816

68, 959
15, 786

71,916
15, 845

76, 062
17,040

77, 925
17, 316

69,011
19, 866

70, 998
15, 987

do
do
do

7,830
7, 567
263

8,254
7,989
265

8,441
8,197
245

8,224
8, 003
221

8,491
8,227
264

i 8, 642
i 8, 364
1278

7,930
7,655
275

8,762
8,450
312

8,484
8,173
311

8, 575
8,257
319

8,381
8,126
255

8,530
8, 298
232

8,617
8,407
211

8,204
8,001
203

8,737
8,497
240

do

69, 234

74, 196

73, 925

72, 557

76, 100

78, 718

77, 124

77, 852

76, 693

75, 598

78,238

80, 576

83, 922

83, 712

do
do

13,876
32,367

15, 295
34, 113

15, 529
34, 749

14, 358
34, 718

15, 001
34, 802

15, 265
34, 382

15, 060
33, 944

15, 171 '15,070
35, 485 35, 677

15, 517
36, 336

17, 571
36,641

18, 745
35, 851

19, 536
37, 269

19, 021
37, 183

389
20,141
646
do _ _ » 1,683
133
do...-

393
21, 834
691
1,721
149

377
20, 648
734
1,733
155

425
20. 413
789
1,706
148

432
23, 110
821
1,790
144

449
25, 812
865
1,809
136

441
25, 058
716
1,771
134

429
24, 096
763
1,764
143

365
20, 808
655
1,768
149

357
21,046
631
1,822
170

357
23, 023
644
1,775
181

353
24, 100
675
1,797
192

353
24, 474
722
1,791
167

do
_do

Other public authorities
Interdepartmental

393
22,882
660
1,771
140

Re venue from sales to ultimate customers (Edison
Electric Institute)
mil. $__ 1, 141. 4 1, 200. 7 1, 201. 6 1, 171. 3 1, 221. 4 1, 262. 8 1, 240. 2 1,232.4 1,215.6 1, 205. 1 1,243.2 1, 287. 0 '1,325.8 1, 332. 2
GAS

Manufactured and mixed gas (quarterly ):cf t
Customers end of Quarter total $
thous
Residenti&l
do
Industrial and commercial
do
Sales to consumers total 9
Residential
Industrial and commercial

Natural gas (quarterly): eft
Customers, end of Quarter, total 9
Residential
Industrial and commercial
Sales to consumers total 9
Residential
Industrial and commercial

964
899
64

798
745
51

785
734
51

703
660
42

495
336
155

385
244
138

358
220
135

553
367
186

300
171
126

59.0
44.3
14.4

41.3
29.3
11 7

34.3
24.4
10.6

51.4
36 5
14.9

29.1
19 1
97

thous. . 33, 940
31, 207
do
2,695
do

35, 435
32 593
2,802

36, 298
33, 350
2,908

36, 438
33, 418
3,020

36, 308
33 396
2 872

mil therms
do
do

Revenue from sales to consumers, total 9
Residential
Industrial and commercial

1,540
1,439
99

mil $
do
do

mil therms
do
do

26 412
8,828
16, 279

28 585
9 425
17, 823

28 608
9,390
17, 887

38 799
17 577
21, 222

27 805
8 529
18 181

Revenue from sales to consumers, total 9 mil. $
Residential
__do
Industrial and commercial-.
do

1, 620. 6
886.2
689.0

1,740.1
943.1
749.5

1,759.5
950.3
761.2

2,624 5
1, 620. 1
1, 004. 5

1 676 5
884 9
753 6

FOOD AND KINDRED PRODUCTS; TOBACCO
ALCOHOLIC BEVERAGES
Beer:
Production
mil bbl
8.39
Taxable withdrawals
_do
7.82
Stocks, end of month
do
10.76
Distilled spirits (total):
Production
mil. tax gal__ 12.50
Consumption, apparent, for beverage purposes
mil. wine gal-- 21.58
Taxable withdrawals
mil. tax gal
10.35
Stocks, end of month
__
do
876. 90
Imports
mil. proof gal
3.82
Whisky:
Production.
mil. tax gal-8.74
Taxable withdrawals
do __
7.08
Stocks, end of month
do .. 852. 54
Imports
:
mil. proof gal
3.35
Rectified spirits and wines, production, total
7.24
Whisky
J
mil.proofsal..
5.27
Wines and distilling materials:
Effervescent wines:
Production
—mil. wine gal.40
Taxable withdrawals...
do
.35
Stocks, end of month.
do
3.00
Imports
do""
.09
Still wines:
.
""""" """"
Production
do
16. 86
Taxable withdrawals
do
13.11
Stocks, end of month
do""
185. 02
Imports
do
1.11
Distilling materials produced at wineries.— do

39.41

8.82
8.22
11.07

7.73
7.65
10.68

6.95
7.03
10.13

8.10
7.71
9.99

7.75
6.54
10.73

7.34
6.32
11.30

9.84
8.58
11.93

10.05
9.24
12.24

11.21
10.21
12.50

10.42
9.85
12.38

9.66
9.61
11.68

9.08
8.49
11.58

13.58

17.07

16.07

15.53

15.03

13.96

15.93

15.72

14.44

14.01

8.32

< 13. 04

15. 84

23.00
11.10
868. 76
4.22

26.18
14.79
860. 08
5.86

27.84
13.30
859. 49
6.07

34.24
10.16
862. 42
5.70

19.21
9.82
864. 86
3.12

18.98
9.85
866. 37
3.31

24.06
10.93
868. 44
5.06

22.64
10.95
870. 39
4.66

22.49
11.30
871. 05
3.96

24.07
11.95
870. 65
4.58

22.18
9.85
866. 20
3.41

21.76
10.65
865. 42
4.33

24.01
11.84
865. 73
5.26

6.31

9.41
7.45
841. 75
3.40

11.06
10.85
832. 56
5.19

10.40
9.60
830. 05
5.46

11.42
6.83
832. 18
5.07

11.36
6.71
834. 46
2.76

10.66
6.98
835. 65
2.96

12.27
7.36
837. 95
4.31

11.50
6.86
840. 22
4.10

10.05
6.92
840. 97
3.43

9.08
6.94
841. 10
3.93

3.76
5.65
836. 60
3.00

'9.36
6.62
836. 20
3.82

10.91
7.94
836. 22
4.68

5.64

7.69
5.46

10.95
8.26

9.74
7.24

7.65
5.19

6.37
4.14

6.47
4.45

7.51
5.12

7.42
5.06

7.24
4.88

8.10
5.46

6.31
4.38

7.54
5.09

8.26
5.78

.49
.45
3.17
.10

.59
.67
3.25
.16

.50
.72
3.00
.20

.50
.75
2.66
.13

.44
.38
2.69
.06

.68
.28
3.05
.06

.77
.42
3.36
.13

.54
.41
3.47
.10

.57
.44
3.56

.66
.51
3.62
.10

.32
.31
3.60
.07

.52
.41
3.66
.08

.52
.58
3.54
.09

.20

16.10
13.73
188. 82
1.21

95.09
15.38
251. 82
1.39

13.27
15.01
243. 53
1.86

6.68
14.66
231. 23
1.54

3.36
12.35
218. 15
.51

3.04
12.68
207. 19

3.05
16.25
193. 14
1.41

3.73
14.20
179. 75
1.35

3.28
12.22
170. 56
1.27

2.53
13.59
157. 01

1.48
9.91
146. 16
.86

3.92
13.57
137. 14
1.01

49.80
15.33
171.61
1.19

1.37

30.67

146. 22

35.19

18.26

3.48

5.18

4.01

2.39

3.42

3.42

17.60

128. 60

'•Revised.
i Beginning Jan. 1965, data include ^Llaska an d Hawa d.
©Revisions for months of 1962 appear on p 24 c>f the M ar. 1964 SURVEY those f()r the
months of 1963 on p. 28 of the Apr. 1965 SURVEY.
§Data are not wholly comparable on year to yeai• basis b«.cause of changes from on e size
cl assification to another.




9.22
8.43
12.08

3.79

c?T be aveniges sho^m for gas3 are qua rterly av erages.
{Re vised da ta for 1st and 2d q trs. of 19 32 appeal• in the Sept. 1963 SURVEY those for 1st and
2dqti•s. of 1963 will be shown 1 ater.
c
Cor rected.
9lricludes d ata not s hown se parately.

SURVEY OF CURRENT BUSINESS

December 1965

1965

1964

1964

1963

Unless otherwise stated, statistics through 1962
and descriptive notes are shown In the 1963
edition of BUSINESS STATISTICS

S-27

Monthly
average

Oct.

Nov.

FOOD AND

Dec.

Jan.

Feb.

Mar.

Apr.

May

June

July

Aug.

Sept.

Oct.

Nov.

PRODUCTS; TOBACCO—Continued

DAIRY PRODUCTS
Butter, creamery:
Production (factory) t
Stocks, cold storage end of month
Price, wholesale, 92-score (N.Y.)
Cheese:
Production (factory), totalt
American, whole milkl

__ _mil. lb_
do
$ per lb_

118.3
328.4
.590

120.2
179.7
.599

95.0
f 145. 2
.616

95.8
95 3
.629

121.0
66.5
.604

132.8
63.1
.587

126.0
71 0
.587

141.6
98.9
.587

140.2
132.1
.595

146.4
165.8
.598

135.8
207.9
.599

106.6
219.5
.602

85. 9
192.5
.620

74.6
' 161. 1
.627

___mil. Ib
do

136.0
92.4

143.9
96.5

131.6
83. 4

122.2
75.7

137.7
84.3

132.7
87.1

128.3
83.7

153.1
100.5

162.1
110.8

179.3
129.2

179.8
128.8

161.3
113.0

142.5
96.7

127.9
82.1

385.0
Stocks, cold storage, end of month, total
do
344.9
American, whole milk
do
6.9
Imports
__
do
Price, wholesale, American, single daisies (Chi.426
cago)
$ per Ib
Condensed and evaporated milk:
Production, case goods :t
6.6
Condensed (sweetened)
mil. Ib
158.1
Evaporated (unsweetened)
do
Stocks, manufacturers', case goods, end of mo.:
6.6
Condensed (sweetened)
mil Ib
162.9
Evaporated (unsweetened)
do
Exports:
4.7
Condensed (sweetened)
do
5.4
Evanorated (unsweetened)
do
Price, manufacturers' average selling:
6.01
Evaporated (unsweetened)
$ per case
Fluid milk :
10,417
Production on farms
_
_ _ _ m i l . Ib
5,096
Ftilization in mfd. dairy products cf
do
4.11
Price, wholesale, U.S. average. __„.-$ per 100 lb__
Drv milk :
Production :t
7.6
Drv whole milk
mil. Ib
175.5
Nonfat dry milk (human food)
do
Stocks, manufacturers', end of month:
5.7
Drv whole milk
do
95.0
Nonfat dry milk (human food)
do
RxDorts:
2.5
Dry whole milk
do
44.6
Nonfat drv milk (human food)
_
do
Price, manufacturers' average selling, nonfat dry
.144
milk (human food)
$ per Ib
GRAIN AND 'GRAIN PRODUCTS
103.4
Exports (barley, corn oats, rye, wheat)
mil bu

344. 1
302.4

345.1
302. 5

326.0
283.6
8.6

311.8
271 A

1.5

298.8
259.7
6.1

292.4
252.3
9.4

310.9
271.6

342.1
299.3

7.0

378.7
333.2
6.3

402.0
354.7
4.2

415.0
364.3
4.2

r 386. 6
' 340. 6

6.6

335.2
292.8
9.3

5.3

6.4

.451

.451

.455

.450

.444

.444

.441

.439

.439

.439

441

.449

.457

6.6

10.5
127.3

8.0

10.1
149.4

9.4

5.4

122.5

9.1

183.7

180.8

159. 2

8 5
152.7

136. 0

123.0

Barley:
Production (crop estimate)
_ _
do
Stocks (domestic) end of quarter total
do
On farms
do
Off farms
do
Exports, including malt§
_ _ do
Prices, wholesale (Minneapolis):
No. 2, malting
_. _-$ per buNo. 3, straight
do
Corn:
Production (crop estimate, grain only) mil. bu
Grindings, wet process
•. do
Stocks (domestic), end of quarter, total

mil. bu
On farms—
_
do
Off farms.
do
Exports, including meal and flour _do
Prices, wholesale:
No. 3, yellow (Chicago)..
_ _ _ _ _ _ $ per bu__
Weighted avg., 5 markets, all grades
do

Oats:
Production (crop estimate)..
...mil. bu_.
Stocks (domestic), end of quarter, total
do _
On farms
_
do
Off farms.-_
do
Exports, including oatmeal
do
Price, wholesale, No. 2, white (Chicago) f
$perbu._
Rice:
Production (crop estimate)
mil. bags9
California mills:
Receipts, domestic, rough.
mil Ib
Shipments from mills, milled rice
do_
Stocks, rough and cleaned (cleaned basis), end
of month
mil Ib
Southern States mills (Ark., La., Tenn., Tex.): ""
Receipts, rough, from producers
mil. lb_
Shipments from mills, milled rice
do
Stocks, domestic, rough and cleaned (cleaned
basis), end of month
mil Ib
Exports
do
Price, wholesale, Nato, No. 2 (N.~6.)____ $perlb

24 405. 6
285.9
4
166.9
4
119.0
4.8

1.19
1.11

6.5

.434

7.9

7.8

4.6

10.3
227.4

185. 3

5.7

7.0

7.7

7.9

154.5

5.8

219.5

123.8

99.8

113.6

165.9

199.0

9.1
224.9

85
235.6

7.3
228.2

7.5
200.6

5.2
3.1

4.6
5.9

6.8
1.9

6.5
1.3

5.9
1.7

5.1
1.4

7.0
1.4

6.3
1.7

3.5
2.0

4.4
2.7

69

•12.1

2.4

2.6
2.3

5.5
2.5

8.3

6.9

7.3

5.99

6 08

6.09

6.09

6.09

6.09

6.09

6.09

6.07

6.07

6.07

6 08

6.11

6.13

10, 550
5,240
4.16

9, 700
4,286
4.50

9,419
4,086
4.53

9,991
4,768
4.46

10, 342
5,075
4.37

9,796
4,939
4.29

11, 155
5,765
4.17

11,416
5,942
4.02

12, 300
6,435
3.89

11, 773
6,354
3.86

10, 888
5,554
4.01

10,151
4,800
4.18

9.443
4,055
'4.41

9,473
3,867
'4.55

7.3
181.4

8.7
127.2

7.4
135.9

8.3
177.2

8.5
186.0

7.5
183.3

8.1
203.4

8.5
217.3

7.6
244.6

7.7
224.9

5.6
169.8

4 7
131.2

5.4
100.6

6.2
102. 0

7.0
108.8

7.7

6.7

8.8

7.7

7.8

114.6

123.2

153.3

6 8
111.5

6.0

127.7

154.9

7.6

5.0

117.4

72.9

64.8

2.2

6.4

6.3

104.7

87.6

1.2

6.0 ,
92.0

7.6

69.9

.8

.7

49.7

18.3

11.1

18
51.0

30.3

44.4

53.0

31
63.3

1.8

66.9

1.2
7.6

1.1

51.5

69.2

64.6

.146

.148

.146

.146

.145

.146

.144

.145

.145

.145

.146

147

.148

.148

115.5

115.4

132.9

121.5

i 29.7

67.3

142.4

114.8

120.4

127.3

127.5

120 3

124.3

134.8

50

399.2
256. 0
143.2
6.8

8.5
1.31
1.28

1.1

310.2
190.4
119.9

6.2

10.2

i 1.2

1.27
1.21

1.31
1.25

1.31
1.23

1.33
1.23

1.39
1.32

1.39
1.27

1.34
1.23

1 28
1.26

1.27
1.25

16.7

15.9

17.5

16.8

17.3

17.1

16.8

18.5

17.3

17.9

42 1

46 3

57 5

51 6

48 8

s 1, 160
5 594
s 566
43 3

52 9

1.33
1.31

1.36
1.31

1.34
1.28

1.33
1.26

1.28
1.21

1.28
1.23

1.19
1.19

2.5

2.3

14.7

44 3

57 4

3,922
2,784
1,138
45.0

17.7

40.3

2,836
1,897
939
68.1

1.21
1.22

1.17
1.20

1.24
1.25

1.26
1.28

1.29
1.26

1.31
1.28

1.23
1.23

2882
604
519
4
86

4
4

3.7

7.8

9.3

5.2

712
624
88

1 915
1 265

650

5
283
6 221
6 63

474
403
71

.4

.9

.5

.4

.5

.7

2.3

2 9

4.3

5.6

.73

.70

.71

.72

.77

.78

.72

.74

.77

.77

.74

.72

.72

.71

.70

270.3

273.1

122
85

127
85

361
76

83
56

87
49

121
58

186
182

197
114

158
151

125
134

82
45

79
76

65
28

59
46

173
37

183

132

123

270

462

305

997
220
.093

(1 6)

(6)

.1

1.38
1.36
4, 128
17.4

1.14
1.14

.72

376.0

180

185

210

161

189

150

91

98

70

87

72

122

1, 790

436

407

258

308

329

306

270

158

101

175

102

341

62

275

66
7422

238

220

907

1,403

244

1,547

1,045

1,844

1,818

1,670

374
247

334
322

.084

.084

.084

709
97

1,859

.083

718
392

.083

945
161

1,356

.083

154

273

1, 535

.086

1,615
i 193
.083

.082

.082

v. 082

244

407. 7

3994

974
836
138

.9

438

4.59

3

2,720 4 2, 785
1,786
^ 1,
818
4
4
934
966
36.6
40.1

76

561 1

4.3

15.6

4

1.1

7.6

16.6

545

1.2

«102. 6
5 40.8

205 0
107.2
97 8

2 4, 092 2 3, 549
15.4
16.1

2979
620

2.7

9,134

3

2 403. 1
271. 8
161.0
110. 8

4
4
4

1.25
1.20

4

135. 5

335.7
296.1

7.5

8.5

1.26
1.19

4

351. 9
310. 5

173.9

133.1

1.25
1.19

1.24
1.20

r
T

114.2

120.5

80.2
.641

126.8
77.3

131. 8

1.21
1.13

4
4

5.6

78.8
124. 7
.636

157.3

r

200

Rye:
Production (crop estimate)
mil bu
229.2 233.5
4
4
Stocks (domestic), end of quarter, total
do
15.0
16. 8
21.2
Price, wholesale, No. 2 (Minneapolis).. _$ per bu.
1.30
1.28
1.25
1.21
1.21
evised
o2 5
* Preliminary.
1 See note "Q" for p. S-21.
Crop estimate for the year.
3 Dec. 1 estimate of the 1965 crop.
* Quarterly i
s Old crop only; new crop not reported until beginning of new crop year (July for barley,"
?
™?/JI\^eat; Oct. for corn). 6 Less than 50,000 bu.
7 Beginning June 1965, data
include shipments to Gov't agencies.
f J1*6™0118 aie available upon request as follows: Jan. 1961-June 1962 and Jan.-May 1963




9.3

8.0

r

438
1,225

143

540

.083

.083

.084

385

151

442

245

3
32 8
35 4
1.18
1.13
1.17
1. 10 1 .1.131.H
1.16
1.17
1.15
cf Revised series; data reflect inclusion of creamed cottage cheese and frozen products
(formerly excluded). Revisions for 1946 and 1952-58 (former series) and 1958-62 (revised
series) appear on p. 24 of the Mar. 1964 SURVEY (data for the latter series have been further
revised; these revisions will be shown later).
.Excludes a small amount of pearl barley.
f Revised series (for No. 2; formerly, for No. 3).
9 Bags of 100 Ib.

17.6
1.18

512.9
1.11 1

SUEVEY OF CUERENT BUSINESS

S-28
Unless otherwise stated, statistics through 1962
and descriptive notes are shown in the 1963
edition of BUSINESS STATISTICS

1964

1964

1963

Monthly
average

December 1965

Oct.

Nov.

1965
Dec.

Jan.

Feb.

Mar.

Apr.

May

June

July

Aug.

Sept.

Oct.

Nov.

FOOD AND KINDRED PRODUCTS; TOBACCO—Continued
GRAIN AND GRAIN PRODUCTS— Con.
Wheat:
Production (crop estimate), total.
iU?. ~T

' h o*"~~~

~

mil. bu_. 11,142 1 1, 290
1266
1234
An
1908 i 1, 025
3364
3337

Stocks (domestic) , end of quarter, total

do — 3 1. 564 31,342
3253 3 281
3 1,311 3 1, 061

F*xDorts total including
Wheat onlv

do
do.

flour

362
1 450
390
1,060

304

328

457

1 146
264
882

<818
*4 133
685

1, 715
569
1, 146

21,354
2302
2 1, 052

568.3
62.2

59.9
51.5

67.4
61.9

71.7
64.8

620.8
619.7

24.5
22.6

71.8
69.1

68.8
62.3

65.4
62.6

59.7
56.1

68,2
64. 9

63.6
58.3

69.4
64.2

67.2
60.6

2.06
1.86
1.92

1.84
1.66
1.75

1.84
1.68
1.75

1.82
1.65
1.71

1.80
1.63
1.70

1.80
1.61
1.69

1.80
1.57
1.69

1.81
1.54
1.67

1.81
1.52
1.65

1.81
1.46
1.61

1.86
1.50
1.64

1.79
1.59
1.70

1.84
1.61
1.76

1.84
1.63
1.72

22, 135
93.5
412
50, 184

25, 017
102.9
462
56, 463

22, 311
101.0
416
50, 765

21, 104
86.6
396
47, 910

20, 166
92.7
377
45, 750

18, 102
83.3
336
41,042

22, 629
89.6
419
51,068

20, 128
83.3
373
45, 511

19, 656
89. 5
364
44, 331

23, 500
97.1
433
53, 168

18, 689
80.9
346
42, 328

35,276
2,629

3,606

2,347

5,068
2,956

6467

812

4, 709
1, 185

2,792

1, 195

4,846
1, 554

1, 403

2,277

5. 652
5.390

5.735
5.493

5.773
5.477

5.623
5.387

5.610
5.387

5.585
5.310

5. 560
5.303

5.585
5.280

5.573
5.260

5.740
5.360

6.013
5.653

5. 938 ••5.875 v 5. 975
5.610 ' 5. 577 v 5. 599

402
378
2,094
1,805
7
1,
231
1, 173
591
551

514
2,359
1,619
1,286

442
2, 111
1,528
1,309

' 449
2,254
1,245
527

404
2,166
1,207
428

384
1,919
965
279

473
2, 226
1,113
332

411
2, 021
911
354

340
2, 043
995
367

378
2. 219
1,152
328

387
2,238
1,045
338

428
2,337
1,254
533

478
2,406
1,304
906

23. 79
22.95
30.00

22.86
19.79
26.21

24.88
19.33
20.00

24.42
19.18
24.50

23.76
18.80
25. 00

23.83
19.88
28.50

23.50
19.85
30.50

23.80
21.31
27.50

25.01
22.04
29.50

26.40
22. 68
27.00

27.44
23.88
27. 50

26.71
23. 22
25.50

27. 01
22.97
23.50

26.93
26. 58
22.92
22.88
25. 00 v 25. 00

5, 965
1, 646

5,972
7 1, 593

6,804
1,860

6,546
1,750

6,648
1,766

6,047
1,527

5,301
1,294

6,534
1,480

5.802
1,274

4,719
1,199

4,717
1, 260

4,430
1, 090

4.750
1,166

5,475
1,228

5, 421
1,231

14.92

17.26

59.7
53.3

Prices wholesale:
No 1 .dark northern spring (Minneapolis)
$ perbu..
2.42
2.20
No.2,hd.anddk.hd.winter(Kans. City)_do
2.33
Weighted a vg., 6 markets, all grades
do
Wheat flour:
Production:
Flour
thous. sacks (100 lb.)_. 21, 991
92.6
Operations, percent of capacity
407
Offal
—
.thous.sh. tons..
Grinding of wheat.
__thous. bu_. 49, 976
Stocks held by mills, end of quarter •
^
thous. sacks (100 lb.)_. 34,712
2, 808
Prices, wholesale:
Spring, standard patent (Minneapolis)
$per!001b__ 5. 639
Winter, hard, 95% patent (Kans. City)__.do___. 5.365

1.88
1.65
1.76

22, 169 -•23,307 23, 383
91.6 ' 101. 8 102. 1
431
428
408
50, 275 '52,838 52, 816

4,136
2,250

2.826

LIVESTOCK
Cattle and calves:
Slaughter (federally inspected) :
Calves
thous. animals. Cattle
do
Receipts (salable) at 27 Dublic markets.
do_ __
Shloments feeder to 8 corn-belt States
do
Prices, wholesale:'
'
• ,_.
Beef steers (Chicago)
_$ per 100 lb_.
Steers, stocker and feeder (Kansas City)._do
Hogs'
'
Slaughter
(federally inspected) ____thous. animals..
Receipt55 (salable) at 27 public markets
do

Wholesale, average, all grades (Chicago)
$perl001b... 15.03
Hog-corn price ratio (bu. of corn equal in value
to 100 Ib. live hog)
•_
•_
13.6
Sheep and lambs:
Slaughter (federally inspected).. .thous. animals1,163
444
Receipts (salable) at 27 public markets
do
Shipments, feeder, to 8 corn-belt States
do
200
Prices, wholesale:
Lambs, average (Chicago)..
$ per 100 l b _ _ 18.69
Lambs, feeder, good and choice (Omaha).do
8 17. 83

8

492
2, 390
1,412
1,261

1,497

26.33
23.02

1,357

15.13

14.07

14.94

15. 58

16.56

16.72

19.86

22. 26

23.09

23.88

22. 49

23.19

24,07

13.2

13.7

13.5

13.0

13.4

14.0

13.8

13.7

16.0

18.1

18. 9

20.2

18.7

21.6

23. 7

1,079
7372
212

1,213
551
394

997
394
134

1,053
336
134

1, 062
278
122

850
209
129

986
227
133

989
199
136

918
229
116

966
294
136

976
278
113

973
334
191

1,106
382
342

1,032
'384
392

359

21.93
20.50
19. 82 10 20. 31

19.75

20. 62
10 19. 62

22.25

23.88

25.00

23.25
00

26.50
CO

26.00
CO

24.75

23.75

23.00

23. 50

23.75

00

CO

CO

CO

MEATS AND LARD
Total meats:
Production (carcass weight, leaf lard in), Inspected
2,462
slaughter.
_ _ . _ _ . _
mil. Ib
2, 283
2, 459
2,595
2,165
2, 288
2, 194
2,187
2,473 2,754
2,518
2,352
2,292
2,665
2,553
Stocks (excluding lard), cold storage, end of
••400
' 410
689
723
442
399
month
__
_
mil. Ib
681
675
610
493
592
582
702
703
665
56
50
44
45
37
55
62
65
68
44
37
45
616
Exports (meat and meat preparations) t
do
33
56
104
102
122
98
41
87
93
91
108
72
81
Imports (meat and meat preparations)J-_--do
76
86
82
63
Beef and veal:
Production, inspected slaughter
do
1,137.4 1 304 4 1,421.3 1,271.7 1 370 4 1, 341. 5 1,187.8 1, 365. 8 1, 235. 4 1, 238. 9 1, 329. 5 1,323.1 1, 369. 7 1, 412. 5 1, 409. 9
StocKs, cold storage, end of month
do
291.4
305.2
215.7
181. 6
176.6
186. 5 ' 201. 5 r 210. 9
274.3 303.5
328.5
267.8 258.8
235.1
217.2
Exports
._ _
do
2.3
3.2
2.4
15.6
2.2
2.3
7.6
4.8
2.0
4.2
2.3
3.7
63.4
6.0
5.8
Imports__.__
__ _
do
72.1
70.8
61.8
86.9
30.5
59.2
73.0
65.5
92.0
70.1
53.5
38.5
53.6
72.4
39.2
Price, wholesale, beef, fresh, steer carcasses, choice
(600-700 Ibs.) (New York)
$perlb
.439
.400
.403
.450
.450
.462
.398
.403
.446
. 446
.417
.419
.404
.418
.408
Lamb and mutton:
50.4
Production, inspected slaughter
mil Ib
53.2
45.2
52.6
46.3
43.2
50.1
46.5
55.6
52.0
57.3
53.7
49. 4
44.7
48.9
Stocks, cold storage, end of month....
do
11.4
9.9
16.2
11.2
19.5
13.1
12.3
11. 0
10.3
9.8 ' 10. 1 «• 12. 7
13.7
13.0
10.6

444

239.5
.435
11.4

Pork (including lard), production, inspected slaughter
_
mil Ib 1 099 0 1, 116. 6 1,275. 3 1, 232. 7 1, 241. 7 1, 122. 9 956. 3 1,179.3 1, 067. 5 881.3 894.0 824.4 867.4 992.9 1,002. 2
Pork (excluding lard):
Production, inspected slaughter.....
do
802. 1
692. 5
794. 8
870.4 1, 000. 5 972.8
856.6
972.8
937.6
697.7
882.8 751. 4
848. 6
656.3 698. 6
Stocks, cold storage, end of month
do
134.4
279.2 333.0
283.6
318.9
334.8 334.8
292.0
223.5
134.8 -•126.3 '126.8
221.7
275.0
307.9
176.1
Exports.._
do
5.6
11.1
4.0
11.5
3.5
4.3
5.8
6.6
7.3
4.9
3.8
62.6
3.0
8.9
4.3
Imports
_.
do
23.0
7.4
22.1
17.6
23.1
17.5
18.1
20.6
26.8
20.5
21.0
27.7
18.6
17.3
21.0
Prices, wholesale:
Hams, smoked, composite-$ perlb
.572
.542
p. 576
.464
.462
.483
.458
.498
.531
.498
.472
.485
.475
.463
.563
Fresh loins, 8-12 Ib. average (New York) do ""
.585
.443
.478
.403
.454
.512
.564
.557
.443
.587
.576
.401
.460
.452
.453
.571
Lard:
Production, inspected slaughter
mil Ib
176. 4
179.4
143.5
144.2
145.9
200.7
195.8
149.4
175.4
137.7
190.2
121.7
122.3
174.8
159.4
Stocks, dry and cold storage, end of mo
do
125.4
104.3
61.9
59.2
82.4
127.1
131.1
97.5
103.8
146.9
107.3
82.5
150.9
143.1
69.0
Exports
do
15.6
44.8
42.6
20.0
19.1
56.8
18.4
12.9
54.9
63.5
29. 3
38.0
622.9
29.9
13.8
Price, wholesale, refined (Chicago)
$per fb__
. 122
p.
193
.136
.140
.144
.151
>-.
188
.160
.149
.148
.156
.161
.148
.148
.150
r
Revised.
*
Preliminary.
ternatioi
5r Classiin.
1961
i
mce
wit?
i
the
Sta
ndard
In
lal
Trad(
n
accord'
ective
JE
JRe
vised
eff
1
3
Crop estimate for the year.
2 Dec. 1 estimate 6f the 1965 crop,
Quarterly av erage.
ficatio n (SITC)) group] ng of ite ms; this groupingL excludes lard (included in formei export
* Old crop only; new grain not reported until begi nning of new crop year (Jiily for w heat),
series^ and saiisage cas inp-s (for merly in eluded) ut inchides mes t extraci s, etc. (f jrmerly
* Beginning Jan. 1964, flour included in total is cc nverted to grain equivaleHit on beis is of
exclu(led). D ata for J an. 1961--Aug. 19(32 are a^callable upon recjuest.
2.337 bu. of wheat to 100 Ib. of flour (2.3 bu. former] y used),
6 See note "C)" for p. S-21.
8
Beginning July 1964, data are for 26 public mar kets.
Averge based o n montl:is for
which quotations are available.
» No quotation.
ioCho ce only.




SURVEY OF CUKKENT BUSINESS

December 1965
Unless otherwise stated, statistics through 1962
and descriptive notes are shown in the 1963
edition of BUSINESS STATISTICS

1963

1965

1964

1964

Monthly
average

S-29

Oct.

Nov.

Dec.

Jan.

Feb.

Mar.

Apr.

May

June

July

Aug.

Sept.

Oct.

Nov.

FOOD AND KINDRED PRODUCTS; TOBACCO—Continued
POULTRY AND EGGS
Poultry:
Slaughter (commercial production)
mil Ib
Stocks, cold storage (frozen), end ol month, total
mil. lb__
Turkevs
do
Price, in Georgia producing area, live broilers
$ per lb._
Eggs:
Production on farms
mil cases© _.
Stocks, cold storage, end of month:
Shell
thous casesO-Frozen
mil. lb__
Price, wholesale, extras, large (delivered; Chicago)
$ per doz

604

629

838

725

640

469

526

541

563

645

683

773

847

877

340
195

300
167

252
135

213
104

176
81

158
69

175
86

237
145

"•341
'242

M68
'361

390
278

560

295
184

313
181

488
342

419
274

357
207

.138

.137

.137

.140

.131

.135

.145

.150

.145

.150

.155

.155

.150

.145

.135

.140

U4.6

15.0

14.6

14.4

15.1

15.4

14.1

15.8

15.5

16.0

15.1

15.0

14.6

14.1

14.7

14.4

132
73

124
76

141
84

102
69

62
58

57
54

41
53

38
55

53
56

321
67

525
84

521
98

423
100

»-321
'95

234
'87

128
70

.343

.331

.363

329

.308

.261

.277

.291

.308

.273

.294

.298

.341

.384

.391

23.5
.253

22 4
.234

23 9
.235

18 6
226

24 4
.240

8.0
226

'22.0
.201

25. 4
.168

25.5
.164

40.2
.159

37.7
.134

26.0
.118

36.2
. 161

48.5
.171

32.4
.171

2
3 922
2 5 704

2
4 281
2 5 594

1,986
772

1,902
601

1,960
367

2,330
924

2,069
728

461
156

1,296
261

2,446
525

1,659
333

1,554
386

1,831
457

1,206
278

1,556
411

.345
110

479
116

483
160

475
138

458
124

450
117

463
116

453
123

458
109

.453
84

.460
94

.455
75

455
104

r

206

195

213

218

215

192

167

141

137

152

166

192

929

' 1, 170

550

80

25

410

1,245

2,105

3,275

3,200

3,525

314
540
159

367
459
159

753
146
116

967
83
54

1 006
60
64

599
1 870
167

215
110
107

215
196
197

108
1 502
250

145
245
240

836
832
1,676

809
806
1 998

830
823
1 409

738
730
2 085

866
860
2 700

753
745
2 893

617
609
2,731

' 797
780
2, 619

775
756
2 490

855
846
2,420

MISCELLANEOUS FOOD PRODUCTS
Cocoa (cacao) beans:
Imports (incl shells)
thous Ig tons
Price wholesale Accra (New York)
$ per Ib
Coffee (green):
Inventories (roasters', importers', dealers'), end
of Quarter
thous bagsc^1
Imports total
do
From Brazil
do
Price, wholesale, Santos, No. 4 (New York)
$ per Ib
Confectionery manufacturers' sales
mil $
Fish:
Stocks, cold storage, end of month
mil. lb__
Sugar:
Cuban stocks, raw, end of month
thous. Spanish tons. _
United States:
Deliveries and supply (raw basis) :§
Production and receipts:
Production
thous sh tons
Entries from off-shore total 9
do
Hawaii and Puerto Rico
do
Deliveries, total 9
do
For domestic consumption
do
Stocks raw and refined end of month do
Exports raw and refined
sh tons
ImportsRaw sugar, total 9
thous sh tons
From Republic of the Philippines
do
Refined sugar, total
do
Prices (New York):
Raw wholesale
$ per Ib
Refined:
Retail (incl N E New Jersey) $ per 5 Ib
\Vholesnle (excl excise tax)
$ per Ib
Tea, imports

thous Ib

Baking or frying fats (incl. shortening):
Production
mil Ib
Stocks (producers' and warehouse), end of month
mil Ib
Salad or cooking oils:
Production
do
Stocks (producers' and warehouse), end of month
mil Ib
Margarine:
Production
do
Stocks (producers' and warehouse), end of month
mil Ib
Price, wholesale (colored; mfr. to wholesaler or
large retailer; delivered) ._ __
$ per Ib

4 470
5 672

2, 654
5, 112

2,612
5 330

3 036
5 401

1, 812
551

2,666
802

.445
!62

.438
153

210

'228

231

231

3,055

2,823

2,133

1,598

1,098

83
253
239

65
401
198

98
317
191

120
219
141

229
114

883
876
2,170

957
950
1, 928

1,006
996
1,658

1,023
1, 007
I, 291 p 1, 536

r

342

352

187

148

143

3 78

123

347

403

196

71

290

166

121

106

359
91
414

292
98
7

391
104
22

381
109
8

347
91
16

132
46
5

154
35
3

238
56
20

333
138
6

373
82
9

373
72
4

194
69
6

365
156
2

422
137
10

451
71
7

081

069

063

061

065

069

069

066

066

.068

068

067

068

. 068

.068

.688
.111

B 657
100

594
089

590
089

583
091

590
095

598
095

598
093

588
093

591
093

595
095

592
095

591
095

.594
.095

596
p. 097

10,519

11 133

10 674

10 242

13, 084

4 066

7 176

16, 192

15 994

10, 463

11, 028

6,372

9,173

14, 543

9, 123

6215 4

222 0

263 9

238 5

197 9

193 6

204 6

213 0

210 8

224 2

219 9

204 2

240 2

r

281 6

132.4

113 1

101 7

112 2

121 1

121 4

111 0

113 6

115 8

122.3

122 9

106.4

103 2

8 196. 7

237.2

277.8

249 9

234.0

212.4

220.5

236.6

213 7

242.6

270.6

229.4

226.4

248.7

120 9

110 1

137 5

118 8

162 3

166 9

138 5

170 0

156.1

149 0

125.7

85 5

65. 9

62.2

149.5

154 8

182 2

143 9

166 7

163 2

167 2

170 5

154 3

142 0

145 1

142.9

148 6

164.9

161.6

46.3

46 4

44.5

47 2

48 0

50 3

44 6

53 1

51 5

51.5

47.0

48.5

44 5

41.9

47.2

.238

.241

241

250

260

256

259

.263

263

.263

.263

.263

.261

.261

p. 261

46 9
27 0

47 3
34 1

43 3
36 3

39 9
37 5

45 3
35 8

39 6
34 g

40 6
30 4

43 1
39 7

45.5
47 5

45.1
45 3

46 4

45 3

41 7

35 0

34 9

29 8

27 6

23 9

21.5

22.6

325.1
149 5

343.9
195 0

368.7
187.7

355.8
184.5

351 3

368 3

r

274 6
r

97.6

105.7

'218.4

213.5

r

FATS, OILS, AND RELATED PRODUCTS
Animal and fish fats: A
Tallow, edible:
Production (quantities rendered)
mil Ib
"44 0
47 4
46 1
47 9
41 1
25 9
Consumption in end products
do
6 37 o
34 1
40 8
38 7
Stocks (factory and warehouse), end of "month
41 3
mil Ib
29 2
24 0
34 1
41 7
Tallow and grease (except wool), inedible:
Production (quantities rendered).. _ do
6346.4 r380 5 406 9
375 3
381 6
Consumption in end products
do
6U83 9
179 2
208 4
191 8
198 0
Stocks (factory and warehouse), end of month
383 2
294 2
mil Ib
312 4
366 4
344 8
Fish and marine mammal oils:
6
5 7
Production:}:
do
15 5
15 0
56
83
Consumption in end products
do
7 4
6 3
6 7
6 1
6 0
Stocks (factory and warehouse) , en d of month
mil.lb- 8 162. 7
126.7
130. 0
144.6
139.9
r
Revised, v Preliminary. 1 Beginning Jan. 1963, includes data for Alaska and Hawaii.
2 Quarterly average.
3 See note "O" for p. S-21.
* Effective Sept. 1963, includes small
amounts of refined sugar, tinctured, colored, or adulterated.
« Data beginning Jan. 1964
not entirely comparable with those for earlier periods, e Based on corrected annual total;
months not corrected.
r Beginning 1962 on annual basis and Jan. 1964 monthly, data are
not comparable with those for earlier periods; consumption for feed now based on Tenderers
shipments instead of feed mill reports.
8 Beginning March 1963, includes General Services'
Administration stocks no longer required for the strategic stockpile.




378 9
184 2

354 8
170 1

380 3
184 0

350 7
172 5

351.0
179 6

352.2
181 6

436 9

439 9

447 8

418 9

371 7

353 5

354 5

320 4

5
57

5
60

5
64

99
65

22 3
57

40 1
68

40 6
6 4

37 7
7 6

r

r

17 8
71

80
64

145. 7
126.9
118.0
116.0
126.4
148.1
166.1
204. 4 ' 192. 1 176.2
©Cases of 30 dozen.
d*Bags of 132.276 Ib
§ Monthly data reflect cumula9 Includes data not shown separately; see also note "§
tive revisions for prior periods.
AFor dnta on lard, see p. S-28.
JRevisions for Jan.-June 1962 appear in the Sept. 1963 SURVEY.

SUEVEY OF CURRENT BUSINESS

S-30
Unless otherwise stated, statistics through 1962
and descriptive notes are shown in the 1963
edition of BUSINESS STATISTICS

1963

1964

1964

Monthly
average

December 1965

Oct.

Nov.

1965
Jan.

Dec.

Feb.

Mar.

Apr.

May

June

July

Aug.

Sept.

30.6
41.4
63.2

19.7
35.6
59.6

28.7
42.3
60.8

123.5 ' 114. 9
7.1
24.8

106. 8
34.4

Oct.

Nov.

FOOD AND KINDRED PRODUCTS; TOBACCO—Continued
FATS, OILS, AND RELATED
PRODUCTS— Continued
Vegetable oils and related products:
Coconut oil:
Production:
Crude
mil. lb
Refined"
__ do-Consumption in end products
do
Stocks, crude and refined (factory and warehouse) end of month
mil lb
Imports
do
Corn oil:
Production:
Crude
do
Refined
do
Consumption in end products t
do
Stocks, crude and refined (factory and warehouse) end of month!
mil lb

29.0
46.2
60.5

127.3
42.2
63.8

32.1
46.9
74.0

37.8
38.9
61.7

(2)
38.8
59.4

36.7
46.8
63.2

32.4
41.7
62.6

33.9
46.3
65.0

27.5
40.8
60.3

32.5
47.1
63.7

23.5
42.1
63.2

24.9
25.6
44.5

228. 5
31.0

166.6
33.1

131.8
15.3

146.7
14.5

154.0
6.1

143.2
71.8

148.0
64.3

166.2
42. 6

169.7
47.3

181.3
38.8

156.0
22.7

137.8
0

32.5
30.3
29.4

34.5
32.8
34.4

36.0
41.3
42.6

33.5
32.8
34.8

32.0
32.3
36.1

35.1
32.4
33.3

34.2
31.9
33.5

38.0
34.8
34.4

36.0
32.2
30.0

36.1
34.3
35.8

38.2
31.8
34.1

36.4
31.1
35.8

38.8
37.9
35.3

40.7
34.8
36.6

40.1
39.0
38.5

58.2

57.8

52.4

43.4

40.1

39.4

39.3

41.7

41.5

38.4

39.6

39.3

38.5

35.4

32. 0

225.5
218.3

316.9
137.4

339.0
159.9

325.0
126.8

315.4
150.6

284.0
177.0

294.5
222.7
192.7 . 220.7

181.9
238.5

126.1
207.6

98.9
168.5

71.9
110.8

191.0
'77.7

299.7
91.0

161.1
133.3
117.5

227. 3
143.9
140.3

243.3
177.2
129.8

233.7
192. 8
136.5

227.3
172.9
121.3

205.9
162.4
131.1

213.6
192.8
122.0

164.6
135.5
110.8

135. 0
119.6
106.8

93.0
98.9
121. 5

72.6
92.1
105.8

132.7
50.0
80.3 '95.3
113.0 ' 133. 4

213.2
149.0
145.9

642.0
50.0

450.1
35.0
.135

534.7
22.1
.150

506.3
88.7
.150

518.7
65.4
.149

546.9
43.0
.159

568.7
50.2
.170

583.4
34.1
.164

560.0
26.9
.146

492.5
50.3
.138

420.6
41.5
.137

292.5 '236.2
54.6
30.6
'.135 v .135

243.6
18.1

3 .141

33.3
32.0

37.0
31.4

45.7
30.3

35.2
25.8

34.7
25.8

34.7
17.9

31.9
18.8

39.5
21.4

28.5
20.5

22.3
22.3

31.3
23.4

15.7
21.5

37.2
21.0

48.7
20.4

45.9
18.8

116. 7
.127

147 4
.134

165.0
.134

177.5
.139

185. 5
.139

199.3
.139

204.2
.139

214.8
.139

212.3
.139

205.0
.139

198.2
.137

184.6
.134

180.7
'.133

184.7
.128

188.2
p . 128

886.3 1, 027. 4 1,022.2 1, 009. 4 1,001.9
112.8
131. 8
102.6
120.3
186.8

877. 5
199.0

956.8
181.7

882.0
194.0

944.1
239.5

856.2
205.3

846.4
163.7

856.5
133.9

697.2
74.2

999.7
97.2

Cottonseed cake and meal :
Production
thous. sh. tons_- 225.3
172.9
Stocks (at oil mills) end of month
do
Cottonseed oil:
Production:
Crude
mil.lb.. 159.8
131.4
Refined
do
1 101. 4
Consumption in end products
do
Stocks, crude and refined (factory and warehouse), end of month
...mil. lb__ 599. 2
30.4
Kxports (crude and refined)*
do
.153
Price , wholesale (drums; N.Y.)
$perlb_.
Linseed oil:
Production crude (raw)
mil lb
Consumption in end products
do
Stocks, crude and refined (factory and warehouse) end of month
mil lb
Price, wholesale (Minneapolis)
$ perlb..

Soybean cake and meal:
Production
thous sh tons
900.1
Stocks (at oil mills) end of month §
do
127.3
Soybean oil:
Production:
Crude
mil.lb.. 421.1
Refined
do
336. 1
Consumption in end products
do
i 319. 8
Stocks, crude and refined (factory and warehouse) e n d o f m o n t h j
mil lb
1 876. 0
Exports (crude and refined)*
do
91.9
Price wholesale (refined • N Y )
$ per lb
.133
TOBACCO
Leaf:
Production (crop estimate)
mil lb
Stocks, dealers' and manufacturers' end of quarter total
mil lb
Exports, incl scrap and stems
thous lb
Imports, incl scrap and stems
do
Manufactured:
Production (smoking, chewing, snuff)
__do
Consumption (withdrawals) :
Cigarettes (small):
Tax-exempt
millions
Taxable
do
Cigars (large) taxable
do
Manufactured tobacco, taxable.thous. Ib__
Exports, cigarettes
__
millions

412.0
382.6
368.6

482.5
444.3
432.5

467.9
392.1
368.7

464.8
370.5
338.6

463.3
377.4
321.7

408.5
348. 2
319.1

448.2
395.0
359.0

415.9
367. 1
340.8

448.0
373. 5
368.3

406.0,
390.9
397.5

403.2
340.2
362.6

408.2
375.8
373.8

329.5
357.8
' 385. 3

474.8
353.2
366.2

766.7
106. 0
3 . 123 -

538.4
110.2
.129

532.7
117.8
.149

544.2
157.6
.140

586.6
68.4
.139

606.0
72.7
.142

613.8
146.6
.141

578.4
91.7
,145

573.3
85.1
.129

522.1
78.2
.121

499.0
61.0
.121

423.0
99.3
'.132

'297.4
89.9
.138

373.0
28.5
P. 137

5,984
20, 802

7,025
13, 440

5, 596
43, 966
53, 208

42, 519
38, 749

35, 737
15, 163

5,228
36, 116
16, 687

36, 137
14, 210

32, 554
16, 181

5, 320
50, 425
15, 382

« 1, 934

42,344

42,227

M,952
42, 124
13, 985

65 252
42, 536
14, 971

56, 037
16, 706

56, 081
14, 846

5,664
69, 936
9,001

13, 960

15, 004

16, 189

lb, 470

12,849

13, 583

12, 677

15, 449

14, 213

13, 143

15, 140

12, 112

15,032

14, 847

3,571
47, 136
777
15,139
1,844

3,237
41,548
784
13,727
2,042

4,557
39, 898
444
13, 306
2,843

2,088
39, 086
602
13, 098
718

3,380
40, 210
554
12, 101
1, 329

3, 705
47, 385
642
15, 248
2,333

4,014
43, 483
633
13, 718
2,094

3,919
40, 841
714
13, 228
2,795

3,846
47, 063
659
14, 904
2,109

3,672
39, 727
607
12, 636
1,831

4,907
46, 647
697
14, 553
1,984

4,021
44, 084
658
14, 024
1,948

3,424
3,554
42,466 41, 454
547
675
13, 709 ' 14, 651
1,968
2,095

44,051
13,061

1,920

LEATHER AND
HIDES AND SKINS
Exports:
Value, total 9
_——.__.._.__
thous. $__ 6,215
Calf and kip skins..
_._._____thous. skins..
155
Cattle hides
thous. hides..
Imports:
Value, total 9 —_
thons. $.. 5,253
Sheep and lamb skins..
.thous. pieces.. 7 2,192
Goat and kid skins
__„
do
1,231
Prices, wholesale (f.o.b. shipping point):
Calfskins, packer, heavy, 9^i/15 lb
$perlb__ p. 365
p. Ill
Hides, steer, heavy, native, over 53 lb
do

8

7,724
199
959

8,385
173
1,004

9,005
204
1,101

7,922
228
1,021

4,531
130
788

5,150
130
702

6, 037
253
1,214

10, 244
226
1,324

11,809
210
1,496

10, 023
218
1,219

9,720
186
1,147

5,131
190
928

7,737
190
841

6,823
2, 538
1,074

4,083
871

4,382
1,052
570

5,664
1,378
925

2,627
616
377

6,213
2,246
963

11, 659
6,322
1,687

9,330
4,288
1,893

7,353
2,799
1,409

6,298
1,825
1,430

7,664
3,763
820

i,545
.,999
.,282

6, 772
2,607
1, 225

p . 414
p . 106

.450
.124

.450
.119

.500
.114

.500
.104

.480
.105

.520
.105

.520
.116

.550
.139

.525
.134

.525
.156

.550
.194

.550
.174

p. 573
p. 166

LEATHER
Production:
Calf and whole kip
____._thous. skins..
466
545
639
629
637
461
532
565
'496
588
574
397
603
506
Cattle hide and side kip___ thous. hides and kips.. 1,804 1,903 2,068
1,845
1,895
1, 979
1,955
1,884
1,952
1,575
1,875
2,033
2,022
1, 984
Goat and kid
thous. skins._ 1,182
1,073 1,092
942 1,120
973
1,066
1,235
1,162
1,147
1,085
1, 317
1,071
1,248
Sheepandlamb
_..___
do____ 2,864
2,629
2750
2,630
2,333
2,723
1,902
2,558
2,261 2,450
2,508
2, 637
2,505
2,646
Exports:
Glove and garment leather
__thous. sq. ft.. 4,640
3,875 3,828
3015
3955 9
6,804
5,627
7,136 6,577
5,207 4,836
5,420
Upper and lining leather
_.__do_... 3,423
3,548
3,307
2,756
" ' " " } 2, 849
Prices, wholesale:
Sole, bends, light, f.o.b. tannery
_ _ _ _ $ per lb._ p. 678 * > . 662
663
695
p. 735
.695
.710
.710
.710
.700
.790 '.765
Upper, chrome calf, B and C grades, f.o.b. tannery..__
.
_.
$ per sq.ft.. * 1.151 »31.200 I 1.223
1.223 1.223
1.252
1.246
1.237
1.237 I 1.243
1.238
1.238
1.237
1.248
1.230
8
'Revised. _ p Preliminary.
i Average based on reported annual total.
2 Not availEffective Jan. 1964, data exclude items presently reported in Ibs.
of the United States."
9
able,
s Beginning June 1964, data are not comparable with those for earlier periods because
ctive Jan. 1965, data are for all leather, except sole and rough; see
instead of pieces.
Effect!^
of changes in specifications or reporters (for leather); mo. avgs. are for 7 mos., June-Dec
note "O" for p. S-21.
j Revisions'for 1962 appear in the Sept. 1963 SURVEY.
May
1864prices on new basis: Cottonseed oil, $0.132; soybean oil, $0.103; leather, $1.180.
*New series. Data prior to Sept. 1962 may be obtained from Bureau of Census reports.
4
Crop estimate for the year.
s NOV. 1 estimate of 1965 crop.
6 Quarterly average
? Ef§Monthly averages for 1951-56 (corrected) appear in the Aug. 1964 SURVEY.
iective Sept. 1963, data reflect minor changes in coverage to conform with "Tariff Schedules
9 Includes data for items not shown separately.




SUKVEY OF CURRENT BUSINESS

December 196B

Unless otherwise stated, statistics through 1962
and descriptive notes are shown in the 1963
edition of BUSINESS STATISTICS

1963

1964

1964

Monthly
average

S-31

Oct.

Nov.

1965
Dec.

Jan.

Feb.

Mar.

Apr.

May

June

July

Aug.

Sept.

Oct.

Nov.

LEATHER AND PRODUCTS—Continued
LEATHER MANUFACTURES
Shoes and slippers:
Production, totalj
thous. pairs.. 50, 361
Shoes, sandals, and play shoes, except athletic
fchous. pairs _- 42, 477
6,468
Slippers for house wear
___
do
813
Athletic
do.-_603
Other footwear
______
_do
Exports
do
Prices, wholesale , f.o.b. factory:
Men's and boys' oxfords, dress, elk or side
upper, Goodyear welt
1957-59=100..
Women's oxfords, elk side upper, Goodyear
welt
1957-59=100-.
Women's pumps, low-medium quality—do

r

51, 831

53, 413

47, 881

50, 047

52, 426

52, 779

59, 926

52, 365

49,436

51, 145

46,268

57, 105

53, 859

43, 457
7,205
555
613

41,684
10, 471
461
797

38, 289
8,485
461
646

42, 982
5,991
523
551

46, 800
4,876
559
191

46, 388
5,585
629
177

51,817
7,223
702
184

44, 837
6,699
629
200

41, 557
7,097
580
202

43, 084 '39,782
5,974
7,241
353
587
>-159
233

48, 184
8,185
549
187

44, 358
8,714
571
216

170

159

219

133

145

198

190

291

247

171

115

191

231

237

105.1

105.9

108.8

108.0

108.0

108.0

108.0

108.0

109.6

109.6

109.6

109.6

110.1

110.1

116.5

106. 5
110.7

106.5
111.0

106.5
111.7

106.5
111.5

106.5
111.5

106.5
111.1

106.5
111.1

106. 5
111.0

106. 5
111.2

106. 5
111.3

106.5
111.2

106.5
112.8

106.5
112.4

106.5
112.4

109.7
114.5

LUMBER AND PRODUCTS
LUMBER— ALL TYPES
National Lumber Manufacturers Association :d"O
Production, total
.,
_
mil. bd. ft_.
Hard woods
do
Softwoods
do _--

2,879
560
2,318

2,951
491
2,460

3,085
509
2,576

2, 738
509
2,229

2,642
441
2,201

2,488
465
2,023

2,723
485
2,238

3,270
478
2,792

2,981
470
2,511

2,980
533
2,447

3,111
.539
2,572

2,969
518
2,451

3,262
552
2,710

3,349
507
2,842

3,128
539
2, 589

do
do
__ do _

2,868
543
2, 325

2,966
524
2,441

3,098
557
2,541

2,709
559
2,150

2,556
489
2,067

2,657
520
2,137

2,807
557
2,250

3,107
550
2,557

3,088
528
2,560

3,112
557
2, 555

3,229
539
2,690

3,193
515
2,678

3, 316
548
2, 768

3,208
537
2,671

3,163
568
2,595

Stocks (gross), mill, end of month, totaL__do
Hardwoods.
_ _ _ _ _ d o __
Softwoods
do

6,518
1,842
4,676

6,393
1,750
4,643

6, 358
1,638
4,720

6,389
1,590
4,799

6,434
1,536
4,898

6,274
1,474
4,800

6,180
1,394
4,786

6,225
1,312
4,913

6, 106
1,250
4,856

5,974
1,224
4,750

5,864
1,224
4,640

5,645
1,226
4,419

5,566
1,229
4,337

5,698
1,196
4,502

5,676
1,161
4,515

73
2445

80
437

78
390

76
405

72
319

170
180

50
378

84
520

76
394

81
411

70
532

86
500

85
513

77
449

87
429

mil. bd. ft_.
do

691
539

743
566

817
530

690
555

691
607

858
750

550
656

802
676

814
684

782
682

814
624

838
673

773
654

719
550

739
518

do
___do _
do

690
689
987

747
737
1,062

731
729
1,065

665
666
1,089

625
639
1,075

663
716
1,038

721
643
1, 115

867
782
1,200

820
806
1,215

742
785
1,172

804
872
1,104

712
788
1,021

788
792
998

832
823
1,007

772
771
1,043

Exports, total sawmill products
do___ .
31
Sawed timber.
do
12
Boards, planks, scantlings, etc..-.
__do
19
Prices, wholesale:
Dimension, construction, dried, 1" x 4", R. L.
$ per M bd. ft_. 79.92
Flooring, C and better, F. G., 1" x 4", R. L
$ per M bd. ft_- 134. 22
Southern pine:
Orders, new.
___mii. bd. ft__
508
Orders, unfilled, end of month
.
do___.
280

31
11
19

35
13
21

25
10
15

27
7
19

135
19
125

26
8
17

33
11
22

32
11
21

35
11
24

28
7
21

38
15
23

32
7
25

34
9
25

40
12
29

81. 22

Shipments, total
Hardwoods
Softwoods
__ _ .

Exports, total sawmill products
Imports, total sawmill products.
SOFTWOODScTO
Douglas fir:
Orders, new..
_
Orders, unfilled, end of month_._

do
do

Production
Shipments
Stocks (gross), mill, end of montn r

„

81.14

81.05

79.75

78.69

82.60

83.45

82.64

81.69

153. 07

155. 52

155. 52

155. 52

155. 52

157. 64

158. 19

158. 19

529
274

554
265

490
260

459
281

583
357

475
346

568
341

582
381

529
527

520
542

505
495

528
438

500
507

498
486

566
573

1,335
8,557
976
7,581

1,262
8,500
860
7,640

1,272
6,711
532
6,179

1,362
1,355
9,471 i 2, 515
1,187
8, 284

1,367
4,790

1,360
12, 117

92.7

92.9

92.7

92.0

92.3

92.5

95.3

95.3

95.3

95.6

95.6

95.6

880
463

966
434

726
413

848
463

813
537

832
840
1,654

882
871
1,606

1,003
962
1, 764

781
747
1,798

809
798
1,809

67.42

65.49

63.52

62. 63

2.9
10.8
2.8
2.7
6.5

2.7
11.4
2.4
2.6
6.2

2,6
10.6
2.8
2.9
4.3

68.3
45.2
69.3
69.1
43.6

68.3
50.4
70.2
68.7
52.2

65.7
39.5
74.3
74.7
47.5

Production
„_
do
501
Shipments
do
505
Stocks (gross), mill and concentration yards, end
of month.
.mil. bd. ft- 1,380
Exports, total sawmill products,. _
M bd. ft__ 6,414
Sawed timber
do _.
832
Boards, planks, scantlings, etc....
do
5,583
Prices, wholesale, (Indexes):
Boards, No. 2 and better, V x 6", R. L.
1957-59=100—
92.5
Flooring, B and better, F. G., 1" x 4", S. L
95.2
1957-59=100-Western pine:
Orders, new
____
mil. bd. ft_.
840
Orders, unfilled, end of month
_do
383
Production..
„
do
Shipments
do
Stocks (cross), mill, end of month
do___.
Price, wholesale, Ponderosa, boards, No 3, \" x
12", R. L. (6' and over)
_ _ _ _ $ p e r M bd ft
HARDWOOD

80.01

80.84

158. 19 157. 10

157. 10

155.79

618
380

579
374

605
387

615
388

591
373

572
367

560
572

519
589

540
585

562
592

543
614

582
606

548
578

1,348
10, 932

1,278
12, 380

1,233
9,126

1,203
8,136

1,132
8,762

1,108
6, 212

1,078
8,694

92.6

92.3

92.0

92.5

93.4

95.0

96.0

96.2

95.6

96. 0

96.0

96.3

96.8

97.3

98.2

98.8

806
479

960
524

889
511

906
505

947
532

1,064
590

1, 025
526

935
507

943
491

646
738
1,716

766
865
1,617

965
916
1,666

848
901
1,613

923
912
1, 624

938
921
1,641

917
1,005
1,553

1,068
1, 055
1,566

1, 124
954
1, 736

969
959
1,746

63.15

63.66

68.44

70. 55

70.70

70.33

68.28

66.65

66. 34

2.2
10.4
2.0
2.4
4.2

2.1
10.1
2.3
2.4
4.0

2.5
10.7
2.2
1.8
4.3

2.8
11.5
2.3
2.1
4.6

2.8
12.0
2.5
2.4
4.6

2.4
11.8
2.6
2.4
5.0

2.4
11.6
2.5
2.6
4.8

3.1
11.8
2.9
3.2
4.4

3.4
11.9
2.4
3.0
3.8

1.9
11.4
2.2
2.9
3.1

•2.6
11.4
2.6
2.7
3.0

2.6
11.1
2.3
2.5
3.1

57.7
35.3
64.8
62.0
50.4

54. 8
35.6
67.0
58.8
64.5

65.8
39.4
65.0
62.0
57.5

58.3
45.8
60.1
54.7
60.2

63.2
47.7
64.3
63.7
58.5

71.2
54.6
64.9
66. 2
56.7

72.2
61.9
61.7
62.6
51.8

69.5
56.2
65.1
70.0
46.7

73.2
62.2
63.5
67.2
42.9

83.3
70.0
68.9
72.5
37.7

71.6
70.2
70.7
71.4
37.0

64.0
69.2
64.6
66.4
34.9

155. 79 »155. 79

r

67. 53 "67.02

FLOORING

Flooring:
Maple, beech, and birch:
Orders, new
mn. bd ft
Orders, unfilled, end of month, _ _ _ _ d o
Production
_
„
"~"~""do
QHtnmnnfr.
'
T
Stocks (gross), mill, end of month. _
do
Oak:
""
Orders, new
do
Orders, unfilled, end of month. _ _ _ _ _ _ _ _ _ _ d o
Production
do
Stocks (gross), mill, end of month

____do___.

2 Be innin
•dat?p*pl?iri'p sTnniT* neJ^Stf ^nrr^o i86^ ni0tS T°'l Ior 1P: S~2L
g
g Sept. 1963,
are shown
i£ Th i n ^TpSSS ra^/c^iA^- J ^J ^?^ by months for 1961-Apr. 1964
8h
dSa raJt£ to t°hTK^




83.34 r 83. 65 * 83. 54

cf Revised data will be shown later as follows: Jan. 1961-Dec. 1963 for production, shipments, and orders; Jan-Dec 1963 for stocks; revisions for 1951-62 for stocks appear on p. 28
* ^ **• ^ SUBVEY. OBeginning Jan. 1961, data for Alaska included in pertinent items.

SURVEY OF CURRENT BUSINESS

S-32
Unless otherwise stated, statistics through 1962
and descriptive notes are shown in the 1963
edition of BUSINESS STATISTICS

1963

1964

December 1965

1964

Monthly
average

Oct.

Nov.

1965
Dec.

Jan.

Feb.

Mar.

Apr.

May

June

July

Aug.

Sept.

Oct.

Nov.

METALS AND MANUFACTURES
IRON AND STEEL
Exports:
Steel mill products
thous sh tons
ScraD
do
Pig iron*
do

185
530
6

286
657
15

310
619
8

269
495
14

353
624
10

Imports:
Stpel mill products H
Scrap 1f
Pig iron*

do
do
do

454
19
55

537
25
63

555
36
101

734
36
75

_oo

6,188
3,715
2,453
6,218
7, 977

7,498
4,648
2,850
7,579
7,428

26. 78 P 32. 77
27.00 P34.70
6,060
6,156
2, 791

162
344
3

281
770
3

230
597
5

200
623
2

177
472
1

188
711
1

195
561
2

204
550
2

254

2281

523
23
49

347
19
29

452
16
32

1,025
18
28

908
21
68

1, 014
17
99

1,192
28
80

1,094
17
67

1,061
22
96

786
15
114

892

7,218
4, 534
2,683
7,372
7,287

7,598
4,767
2,831
7,542
7,413

7,467
4,742
2,725
7,756
7,138

7,284
4,463
2,821
7,417
7,002

8,446
5,174
3,272
8,529
6,915

8,300
5,002
3,298
8,248
6,960

8,111
4,890
3,221
8,043
7,027

8,083
4,863
3, 220
8, 021
7, 066

7,569
4,728
2,840
7,582
7,051

35.41
38.00

36.39
39. 50

36.98
40.00

36.61
39.00

35.79
38. 00

35. 41
36.75

35.52
37.50

35.66
38. 50

33.88
35.00

33. 84
35.00

32.73
35.00

6,772
6,484
3,535

7,730
10, 201
4, 385

5,290
7,678
3,700

4,459
2,945
3,501

4,516
1,782
2,192'

4,169
1,747
2,382

4,780
1,966
2,943

5, 469
4,622
3,489

9, 144
10, 913
4,120

10, 102
11,333
5,106

10, 508
12, 481
4,505

10, 851
11, 699
5, 128

8,458
8,669
568
73, 798
15, 049
53, 377
5, 372

9,860
10, 183
580
72,703
16, 229
52, 225
4,249

13, 141
11,069
.928
76. 367
10, 439
61.831
4,097

11, 476
10, 900
648
74. 465
8,051
62, 407
4,007

6,249
11, 472
309
70. 490
9,565
57, 184
3,741

3,981
11,522
2139
65, 179
12. 310
49: 643
3, 226

4, 053
10, 446
195
60, 990
14, 732
43, 249
3,009

4,748
11, 566
196
56, 431
17, 546
36, 431
2,454

7,081
11,162
516
52, 577
18, 393
32. 350
1,834

14, 082
11,682
929
53, 079
16, 624
34, 750
1, 705

15, 256
11, 083
950
55,909
15,392
38, 923
1,594

15, 929
11, 133
1,037
58, 931
13, 420
43, 710
1,801

15,367
10, 897
1,033
62, 675
12, 572
48, 181
1,922

13, 224
9,764
544

12, 929
8, 976

51, 641
2,230

55,594
2,448

84

86

92

194

108

97

104

71

122

97

109

74

115

105

5, 993
6,057

7,133
7, 198

7,780
7,843

7,674
7,641

7, 958
7,955

8,013
8,012

7,312
7,362

8,204
8,309

7,951
8,030

8, 195
8,165

7, 849
7,864

7,780
7,836

7, 661

6,690

62.75
62.75
63.00 P63.00
63.50 p 63. 50

2115

(12)

Iron and Steel Scrap
riome v c p r
furcna, en -crap received {.net;
Qt v

Q ' r«;r PTifl nf mo

do

Prices,' steel scrap, No. 1 heavy melting:
Composite (5 markets)
._$ per Ig. ton_.
Pittsburgh district
do
Ore
Iron ore ("operations in all U.S. districts):
^iine prouuciio _.
> . g.
Imports
do
U.S. and foreign ores and ore agglomerates:
Receipts at iron and steel plants
do
Exports
A * »''"''"'» "na OI
At furnace yards
At U S docks

°*

do
, -•do
do

Manganese (mn. content), general importsf__do

6, 994
4, 360 '
2,634
7, 052
7,344

' 30. 67 p 29. 32
31. 00 v 32. 00

3,894

Pig Iron and Iron Products

Pig iron:
Production (excluding production of ferroalloys)
thous. sh. tons__
Stocks (consumers' and suppliers'), end of mo.
thous. sh. tons__
Prices:
Composite__
.. $ per Ig. ton._
Basic (furnace)
• do
Foundry No 2 Northern
do
Castings, gray iron:
Orders, unfilled, for sale, end of mo.
thous. sh. tons..
Shipments total
do
For sale
do
Castings, malleable iron:
Orders, unfilled, for sale, end of mo.
thous. sh. tons. _
Shipments total
do
For sale
do

6,310

2,814

2,501

2,375

2,410

2,461

2,461

2,458

2,374

2,300

2,402

2,508

2, 505

62.87
63.00
63.50

62.75
63.00
63.50

62.75
63.00
63.50

62. 75
63.00
63.50

62.75
63.00
63.50

62.75
63.00
63.50

62.75
63.00
63.50

62. 75
63.00
63.50

62.75
63.00
63.50

62.75
63.00
63.50

62. 75
63.00
63. 50

62.75
63.00
63.50

62.75
63.00
63.50

783
1,064
591

845
1,193
678

878
1,221
733

841
1,202
726

855
1,202
682

924
1,241
699

949
1,201
674

974
1, 425
812

940
1,404
816

960
1.376
'822

917
1,454
869

925
1,282
771

' 892
' 1,302
'815

881
1, 323
777

81
78
44

103
83
49

115
76
54

121
76
47

122
83
49

123
95
54

130
90
50

136
109
61

139
100
56

152
96
53

144
105
60

165
81
44

'171
'81
'50

176
90
55

9,105
112.5

10, 590
130.5

11, 568
140.2

11, 292
141.4

11,612
140.7

11, 830
143.4

10, 866
145.8

12, 347
149.7

11, 966
149.9

12, 012
145.6

11,593
145.2

11, 551
140.0

11,324
137. 3

9,949
124.6

219
125
100

329
153
122

344
163
127

340
154
121

337
163
127

370
158
124

334
159
125

363
181
145

362
173
137

355
164
131

357
178
143

368
134
105

'389
152
120

407
171
138

342
129
98

459
146
112

427
153
117

445
144
111

459
156
117

485
155
125

491
159
126

494
192
151

484
173
135

512
162
127

510
172
134

544
152
114

568
154
114

579
174
134

6,296
263
443
603
92

7,079
352
507
708
116

7,367
386
562
793
99

7,314
418
546
762
108

7,673
401
540
834
129

8,050
385
566
844
132

7,839
414
530
742
135

9,590
469
638
871
163

10, 101
489
648
881
166

7, 874
395
569
811
148

7,887
394
577
808
132

7,699
379
590
833
101

8, 634
403
606
856
101

6,698
333
516
827
96

6, 237
265
523
833
99

972
1, 100
1,182
Bars and tool steel, total,
do
1, 170
1,145
631
700
740
Bars: Hot rolled (incl. light shapes)
do___.
755
745
224
269
Reinforeing
__ _
do
302
266
265
no
122
Cold
finished.
do
131
139
126
587
678
Pipe and tubing .
do
692
671
610
262
259
Wire and wire products
do— .
227
273
234
488
Tin mill products
do
507
430
415
399
2,587
Sheets and strip (Incl. electrical), total do
2,852
2,949
3,286
3,092
735
Sheets* Hot rolled
do
829
901
867
862
1,209
Cold rolled
„
do
1,308
1,279
1,572
1,458
Steel mill products, inventories, end of mo.:f
10.0
Consumers (manufacturers only) _ _ _ mil. sh. tons..
11.2
9.7
10.0
10.5
4.8
Receipts during month „
do .
5.2
5.1
6.0
5.5
4.7
Consumption during month..
do
5.0
4.7
5.3
5.0
3.4
Warehouses (service centers)
do
3.7
4.1
3.8
3.9
Producing mills:
7.4
In process (ineots, semifinished, etc.)
do
8.4
8.8
9.1
9.0
7.1
Finished (sheets, plates, bars, pipe, etc.y.^6
7.8
8.3
8.7
8.5
Steel (carbon), finished, composite price... $ per lb_. . 0705 .0715 .0715
.0715
.0715
r
2
Revised.
v Preliminary.
* Less than 500 tons,
See n Dte "Q" for p. S-21.
*New series. Monthly data back to 1953 are avail able,
^Beginning Sept. 1963, imports reflect adoption of the U.S . tariff schedules data ar e not
strictly comparable with figures for prior periods,
cf Data reflect adjustment to industry levels as d erived fi*om com plete carivass for 1962;

1,199
848
186
155
601
273
635
3,415
955
1,610

1,157
786
201
'160
688
280
636
3,256
929
1,507

1,462
986
262
203
970
369
818
3,829
1, 060
1,774

1,534
1,041
279
203
1,040
420
1,026
3,896
1,182
1,747

1,266
827
285
145
778
306
317
3,286
960
1,489

1,282
814
305
152
734
298
419
3, 244
942
1, 485

1,211
767
298
138
744
268
521
3, 052
893
1,409

1,328
836
315
167
877
323
733
3,406
1,009
1,538

1, 083
644
291
139
588
248
275
2,733
797
1,178

1,036
626
264
137
566
228
360
2,327
662
985

11.9
6.0
5.3
4.1

12.5
5.9
5.3
4.1

15.1
7.4
6.0
4.2

15.5
6.2
5.8
4.2

15.8
6.2
5. 9
4.2

16.3
5.5
5. 0
4. 4

17.2
6.0
5.1
4.6

17.0
'5.2
'5.4
4.6

P15.8
P4.1
*>5.3
P4.6

9.2
8.6
.0715

9.0
8.4
.0715

7.8
6.7
.0715

8.1
7.1
.0715

8.2
7.3
.0715

8. 4
7.5
.'0715

8.2
7.0
.0715

8.2
7.3
.0715

P8.2
P7.5
.0715

Steel, Crude, Semifinished, and Finished
Steel ingots and steel for castings:
Production
_
_
thous. sh. tons
Index
-_____._
1957-59=100Steel castings:
Orders, unfilled, for sale, end of mo.
thous. sh. tons__
Shipments total
do
For sale total 1
do
Steel forgings (for sale ) : &
Orders unfilled end of year or mo
do
Shipments totfll
do
Closed die (drop, upset, press)
_do
Steel products, net shipments :
Total (all grades)
Semifinished products
Structural shapes (heavy) steel piling
Plates
Kails and accessories




do
do
do
do
do

13.7
7.3 .
6.1
4.1
7.9
8.4
.0715

' 9, 296 p 8, 795
'112.7 p 110. 2

.0715
annua 1 shipments for 1962 were r aised by 10%, backlog (as ()f Dec. 3 L, 1962) b y9%. R evisions
for Ja Q. 1962-JLpr. 1964 will be shown la ter.
fEff ective O ct. 1963 £SURVEY, data for steel con sumers r sflect recalculated estimat 3s based
on qu antity co verage fcictors. ]Revisions back to Oct. 196 1 appear in the O ct. 1963 £ URVEY.

SURVEY OF CURRENT BUSINESS

December 1965
Unless otherwise stated, statistics through 1962
and descriptive notes are shown in the 1963
edition of BUSINESS STATISTICS

1963

1964

1964

Monthly
average

S-33

Oct.

Nov.

1965
Jan.

Dec.

Feb.

Mar.

Apr.

May

June

July

Aug.

Sept.

Oct.

327
411
3,177

Nov.

METALS AND MANUFACTURES—Continued
IRON AND STEEL— Continued
Steel, Manufactured Products
Fabricated structural steel:
Orders, new (net)
'.
Shipments
Backlog, end of year or mo

thous. sh. tons-do
do

336
341
2,322

375
353
2,712

355
379
2,575

433
320
2,727

358
309
2,712

386
316
2,740

417
294
3,751

413
365
3,022

439
351
3,071

570
318
3,279

458
363
3,245

337
329
3,268

341
413
3,176

438
383
3,179

Barrels and drums, steel, heavy types (for sale):
Orders unfilled, end of mo
_thous._
Shipments
do
Cans (tinplate), shipments (metal consumed) ,
total for sale and own useO
thous sh. tons

1,273
1,922

1,258
2,026

1,165
2,036

1,146
1,879

1,154
1,959

1,243
1,711

1,303
1,665

1,281
2,267

1,372
2,200

1,280
2,057

1,251
2,171

1,264 ' 1, 300
2,001
2,126

1,323
2,045

385

395

422

325

331

318

368

343

472

372

421

458

538

497

192.7
59.0

212. 7
58.0

218.4
58.0

214.0
50.0

222. 8
54.0

222.7
56.0

203.2
56.0

230.0
62.0

226.6
62.0

237.0
63.0

227.6
66.0

235.1
57.0

234.9
62.0

218.7

34.7
3.4
13.8

32.7
4.1
17 A

25.6
3.3
17.2

20.3
3.8
15.1

27.8
3.7
20.3

12.9
1.1
17.5

33.4
3.9
15.6

46.2
5.2
27.7

41.7
5.0
13.1

51.1
4.6
18.3

65.6
5.6
16.7

51.4
5.1
19.0

45.6
6.8
15.7

39.6
4.9
17.6

105.6
.2262

103.5
.2372

121.4
.2400

116.1
.2410

96.5
.2434

107.5
.2450

97.7
.2450

81.0
.2450

75.9
.2450

63.4
.2450

79.4
.2450

83.0
. 2450

81.1
.2450

71.0
.2450

524.1
354.8
166.3
3 100. 6

588.3
402. 6
189.5
3 104. 5

576.0
410.9
183.8
72.2

536.8
382.4
171.4
80.0

651.0
422.0
192.0
85.2

530.6
401.5
187.8
3113.2

614.7
414.3
196.2
116.7

778. 6
528. 5
263.5
136.4

726.3
531.1
275.4
122.2

785.1
535. 8
270.1
115.0

713.9
517.6
248.0
121.7

599.0 ' 648. 4
436.9 ' 456. 2
201.4
200.7
96.6
103.1

636.9
461.1
201.0
117.2

101.1
133.0
101.6
31.4
24.0

103.9
138.0
105.0
33.0
27.7

115.3
140.4
107.9
32.4
32.0

111.1
134.8
110.7
24.1
26.6

111.7
156.1
121.9
34.2
33.7

115.7
146.6
115.0
31.6
31.4

107.1
131.4
107.0
24.3
31.2

121.4
150. 1
118.8
31.3
35.4

116.7
150.0
109.5
40.5
35.5

119.2
144.6
116.6
28.0
37.9

116.2
147.8
110.2
37.5
35. 3

105.8
109. 3 ' 107. 9
143.8 r' 139. 4
133.1
116.1
113. 0
101. 1
27.7
26.4
32.0
34.4
33.4
36.6

45.1
9.9

48.7
11.5

52.4
9.5

36.3
11.4

69.8
14.0

26.2
6.7

45.4
8.2

35.5
12.6

65.7
10.8

31.1
9.7

58.4
12.9

29.9
9.0

36.7
9.5

30.0
26.0
146.2

35.9
26.4
154.9

40.5
26.8
162.4

40.2
27.0
148.6

58.0
37.0
160.2

121.5
H5.4
166.4

32.7
26.2
167.5

63.5
48.3
178. 5

43.2
34.7
164.9

43.6
36.5
171.1

29.3
18.9
187.8

30.7
23.0
124. 5

33.3
26.0
178. 0

29.0
32.2
22.0
26.3
183.2 f 178.2

__do
do
$ per lb__

175.4
96.0
.3060

142.5
94.2
.3196

138.5
87.2
.3361

144.2
90.7
.3366

149.6
110.0
.3370

158.2
91.9
.336J

146.4
83.0
.3360

119.9
74.9
.3360

126.6
79.3
.3360

112.3
76.7
.3545

118.7
79.2
.3560

162. 3
118.5
. 3560

148.1
111.2
.3560

132.8 p 130.8
93.3 v 90.6
.3568
.3560

Copper-base mill and foundry products, shipments
(quarterly avg. or total):
Copper mill (brass mill) products
____mll. lb—
Copper wire mill products©
do— _
Brass and bronze foundry products
do

616
428
239

697
498
266

Lead:
^Production:
Mine, recoverable leadt
thous. sh. tons—
Secondary, recovered from scrap©
do

21.1
41.1

23.8
42.8

23.5
46.0

23.4
44.0

23.3
41.8

24.0
44.3

23.3
45.9

26.5
51.5

26.1
46.2

22.0
46.7

22.4
48.1

22.5
40.5

'25.5
42.4

25.8
48.0

31.3
96.9

27.8
100.2

28.8
104.4

19.2
100.9

26. 3
104.8

31.2
103.0

26.5
98.5

29.8
102.2

21.7
99.4

18.7
99.4

25.8
102.6

37.1
86.1

32.3
103.1

24.2
105.3

100.4

99.1

98.9

93.0

86.9

90. 2

93.9

99.8

105.3

35.6
106.5

34.6
101.0

29.9
103.8

27.8
100.4

27.2
107.1

29.3
110.8

31.0
118.5

26.3
106.2

24.3
95.5

74.3
.1600

70.6
.1600

66.1
.1600

65.7
.1600

63.4
.1600

62.5
.1600

63.1
.1600

59.4
.1600

53.8
.1600

473
1, 845
2,035
240
7,090
4,900

17
2,239
2,035
240
6,970
4,980

870
4,183
1,990
260
7,905
5,775

376
2.908
2,000
250
7,485
5,440

492
3,207
1,925
240
7,010
5,080

322
3,073
2,210
310
7, 610
5,420

40
2,648
1,790
230
6,755
5,005

219
2,061
1,815
255
7,075
5,135

37
4,015

5,990
3,995

i 251
23, 655
1. 5726

219
24, 035
1. 5498

567
25, 250
1. 6498

611
24, 260
1. 8067

83
24, 215
1. 9195

173
23, 183
1. 8894

142
23, 587
1. 8412

226
22, 985
1. 8696

364
24, 350
1. 9190

_

NONFERROUS METALS AND PRODUCTS
Aluminum:
Production, primary (dom. and foreign ores)
thous. sh. tons—
Estimated recovery from scrapf
do
Imports (general):
Metal and alloys, crude.
do
Plates, sheets, etc
' do
Exports, metal and alloys, crude
do
Stocks, primary (at reduction plants), end of mo.
thous. sh. tons..
Price, primary ingot, 99.5% min
$ per lb—
Aluminum shipments:
Ineot nnd mill products (net) A
Mill products, total ___
Plate and sheet (excl. foil)
Castings

.mil. Ib
___.do
do
do__

Copper:
Production:
Mine, recoverable copperj
thous. sh. tons__
Refinery, primary
do
From domestic ores
;
do__
From foreign ores
___do
Secondary, recovered as refined
_do
Iirmorts (general):
Refhied, unrefined, scrap©f
do
Refined _
__do
Exports:
Refined, scrap, brass and bronze ingots_..do
Refined
do
Consumption, refined (by mills, etc.)-...-_do
Stocks, refined, end of mo., total. .
Fabricators'.- _
.
Price, bars, electrolytic (N.Y.)

Imports (general), ore®, metalf.
Consumption, total t-

do
do_

664
519
267

Stocks, end of year or mo.:
Producers', ore, base bullion, and in process©
(ABMS)
— . thous. sh. tons- no. 2
94.4
98.4
98.4
90.8
Refiners' (primary), refined and antimonial
(lead content)
thous. sh. tons-56.7
40.9
38.2
39.1
39.1
Consumers' d"
:•_
__ _-— do_— _ 119.9 108.8
125.7
115.3
108.8
Scrap (lead-base, purchased), all smelters
thous. sh. tons
66.4
60.6
61.8
68.6
68.6
Price, common grade (N.Y.)____.
$perlb_. .1114
.1450
.1360
.1500
.1566
Tin:
Imports (for consumption) :
Ore©.—
lg. tons- (2)
357
268
312
(2)
Bars, pigs, etc. -.
do
3, 596
2,632
2, 407
2, 422
1,768
Estimated recovery from scrap, total©—— do.
1,861
1,959
2,090 ^ 1, 875
1,980
As metal
__
do
255
278
300
285
275
Consumption pig, total
do
6,525
6,898
6, 655
6,190
6,795
Primary
_
__ — __
_ do
4,601
4,873 4,620
4,245 4,680
Exports, incl. reexports (metal)
__ do.
135
328
182
90
403
Stocks, pig (industrial), end of mo§
do"""" 25, 610 21,909 20, 420 21, 285 24, 343
Price, pig, Straits (N.Y.), prompt
$perlb"~ 1. 1664 1.5772 2. 0461 1. 9027 1.6311
Zinc://
Mine production, recoverable zinc}:
44.1
thous. sh. tons—
47.9
50.3
47.4
47.5
Imports (general) :
Ores©1
do
31.1
29.8
29.8
30.5
32.9
TVIpffil fslph hlr»r»lrcl€
A
12.1
9,9
9.6
9.4
12.3
Consumption (recoverable zinc content)Ores©
„
do.___
38.7
38.8
8.5
8.0
8.7
317.0 318.5
16.6
16.8
16.6
' Revised.
* Preliminary.
i See note "Q" for p. S-21.
2 gee note "m» for thi«* ™*P
3 Based on annual total. Aluminum castings data (1962-64) revised to the 1962

producers win be shown later;

v

©Reflects new factors to derive tonnage equivalent (1964-65 237 base boxes npr tnn nf
steel; 1963, 23.5 boxes; 1962, 23.2 boxes); revisions back to 1961 are available
tEffective Dec. 1964 SURVEY, data for all periods represent estimated industrv recoverv
of aluminum (excluding alloying constituents).
^*M>U memory recovery
^Beginning 1962, data reflect, imports of ingots as compiled by Bureau of the Census rather
than reported shipments by importers as formerly; revisions back to Jan. 1961 are available.




1

706
513
275

798
544
274

39.0
11.4

237.2

76.8
.2450

.2457

115.1
143.5
107.4
36.1
40.9

55.4
18.3

.3641

716
524
249

50.5

49.3

55.2

53.5

49.3

52.1

48.1

^50.5

50.6

29.1
12.1

30.8
15.1

48.3
7.2

25.9
18.3

32.9
9.4

32.3
3.7

38.9
21.1

36.1
10.7

36.2
2.7

8.6
16.9

8.6
16.7

10.5
17.6

10.2
17.6

9.7
18.9

8.9
19.1

8.8
18.6

8.6
18.5

8.6,
18.4

.1600

.1600

1. 8532

1. 7676

{Revisions for 1962 are in the Sept. 1963 SURVEY: those for 1st half 1963 are available upon
request.
©Basic metal content (for tin ore, Sept. 1963 through Apr. 1964 data are in terms of gross
weight).
ISee similar note, bottom p. S-32.
'/Beginning Aug. 1964, data reflect sales to the industry of metal released from the Government stockpile.
d"Consumers' and secondary smelters' stocks of lead in refinery shapes and in copperbase scrap.
§ Stocks reflect surplus tin made available to industry by GSA.

SUEVEY OF CURRENT BUSINESS

S-34
Unless otherwise stated, statistics through 1962
and descriptive notes are shown in the 1963
edition of BUSINESS STATISTICS

1963

1964

Monthly
average

December 1965

1964
Oct.

Nov.

1965
Dec.

Jan.

Mar.

Feb.

Apr.

May

June

July

Aug.

Sept.

Oct.

Nov.

METALS AND MANUFACTURES—Continued
NONFERROUS METALS AND PROD.— Con.
Zinc— Continued
Slab zinc: ||
Production (primary smelter), from domestic
Sppondarv (redistilled) production.
Lonsumpr o ,

do

Stocks, end of year or mo.:
Producers', at smelter (AZ1)A

do

Price, prime Western (East "St. Louis) ..$ per lb_.
HEATING EQUIPMENT, EXC. ELECTRIC
Radiators and convectors, shipments:
Cast-iron
-mil. sq. ft. radiation,.
Oil burners:
Shipments
thous__
Stocks end of year or mo
do
Stoves and ranges, domestic cooking:
Shipments, total (excl. liquid-fuel types)-— do
Qasd1

dO_.

Stoves domestic heating, shipments, total do
Qas '
do
Warm-air furnaces "(forced-air and gravity air-flow),
shipments, total
____thous—
Gaq
do
Wiiter heaters gas shipments
do..-.
MACHINERY AND APPARATUS
Fans, blowers, and unit heaters, qtrly. totals:
Fans and blowers new orders
mil. $_
Tin it heater group new orders
do ._
Foundry equipment (new) , new orders, net
mo. avg. shipments, 1957-59=100..
Furnaces (industrial) and ovens, etc., new orders
(domestic) netf
- - - - - - mil. $_.
Electric processing
do
Fuel-fired (exc for hot rolling steel)
do
Material handling equipment (industrial) :
Orders (new), index, seas, adj
1957-59=100..
tndustrial trucks (electric), shipments:
TTand (motorized)
number. _
Rider-tvpe
do____
Industrial trucks and tractors (internal combustion
engines) shipments
number. _
Machine tools:
Metal cutting
tools:
Order5? new (net) total
Domestic
Shipments, total
Domestic
Estimated backlog
Metal forming tools:
Orders now (net), total
Domestic
Shipments, total
Domestic
Estimated backlog

_ . _
- --

...
-

74.4
5.0
92.1
2.8

79.5
6.0
100.6
2.2

81.8
6.3
109.6
1.6

80.0
5.8
100.4
.1

80.2
5.9
102.8
.3

79.2
6.0
106.9
.8

75.8
6.2
104.3
.6

83.2
6.7
118.7
.5

82.8
6.5
109.8
1.2

86.9
6,8
113.3
.4

82.6
6.5
115. 5
.3

85.1
5.4
96.9
.5

84.9
6.4
113. 9
.4

84.0
5.3
117.0
.2

47.9
92.1
. 1200

31.2
103. 0
.1357

33.9
103.0
. 1399

36.4
98.0
.1450

32.0
103.0
.1450

34.4
93.5
.1450

28.4
87.1
.1450

22.9
79.7
. 1450

20.2
77.6
.1450

25.2
102.4
.1450

23.3
102.3
. 1450

26.9
110.6
.1450

29.2
'128.2
.1450

27.3
128.5
.1450

1.0
9.2

.9
9.4

1.3
12.9

.8
9.6

.7
8.8

.6
8.2

.8
7.3

.8
8.3

.7
8.0

.5
6.4

.7
8.4

.6
11.4

1.0
11.6

1.0

48.8
42. 2

47.3
42.6

62.9
41.9

50.6
39.5

35.4
42.6

44.3
41.8

38.0
42.9

45.6
45.8

39.8
51.6

42.1
48.6

46.3
47.9

43.4
44.6

'58.8
41.2

64.9
37.0

176. 0
173.1

183.3
180.9

205.0
201.4

174.6
172. 5

174.1
172.1

150.7

167.0

206.9

179.5

170.0

199.2

153.9

' 191. 5

226.6

161. 9
101. 5

150.9
102.3

283.7
194.9

132.9
92.5

98.6
70.6

87.5
55.6

86.3
55.3

128.0
89.1

94.0
56.2

82.3
57.3

110.3
77.5

158.8
106.4

' 186. 5
' 120. 3

227.6
141.8

117. 8
95.3
200.3

118.8
96.8
223.3

170.2
134.6
256.5

121.9
97.0
190.5

106.3
87.9
194.2

84.2
69.2
210.0

90.1
73.9
230.4

92.8
77.1
227.2

87.3
72.5
215.9

97.4
82.3
192.1

107.3
88.7
205.0

116.6
96.0
214.0

' 140. 4
' 112. 2
206.2

174.4
136. 0
226.4

i 41. 1
U5.7

U5.6
118.7

131.9

218.6

122.1

201.6

358.5

380.8

407.3

249.0

374.1

192.9

274. 6

280.6

387.0

316.9

295.0

9.6
1.1
4.8

13.7
1.8
6.4

8.3
1.1
4.1

13.6
1.4
5'. 6

13.8
1.3
5.1

11.9
1.9
5.5

16.0
4.3
7.5

9.4
1.7
4.6

11.3
1.1
5.3

9.7
1.4
5.1

18.3
1.0
6.7

10.5
1.0
6.0

12.6
2.0
7.2

11.4
1.3
6.8

8.2
1.1
3.4

45.0
18.1

184.9

27.2
.1450

53 6
16.0

'53 6
'19.0

150. 6

163. 1

169.3

139.9

199.4

177.5

165.8

188.6

165. 6

193.3

175.4

547
581

574
594

604
688

585
671

724
694

564
566

572
627

629
808

540
663

557
820

765
848

742
842

558
695

745
899

810
1,015

2,434

3,014

3,316

3,208

3,762

2,944

3,176

3, 445

2,604

3,242

3,625

3,497

3,378

3,729

3,910

mil. $
_ do __
do
do
..months...

59.50
47. 50
49.90
41.10
5.2

81.35
67.40
65.95
53.05
6.6

81.00
67.70
71.65
54.40
6.8

69.95
57.85
65.65
52.75
6.8

81.05
70.75
86. 50
70.35
6.3

81.85
72.95
68.10
58.55
6.5

91.40
78.00
70.35
60.45
6.7

97.80
86.65
90.30
77.75
6.6

96.05
85.70
77.75
68.20
6.6

74.75
67.10
82.45
71.75
6.4

93.65
87.10
83.75
71.15
6.5

95.60
84.75
69.45
60.70
6.8

106. 80 'r 99. 85 102. 65
95.40
87. 00 96.20
57.55 ' 80. 80 91.25
75.55
50.10 ' 70. 90
'7.3
7.6
7.7

mil. $_
do
do
do __
months

18.10
15. 90
15.30
12.80
4.7

32.35
29.40
19.00
16.70
9.9

22.75
19.45
21.15
18.70
11.1

23.95
20.40
20.35
18. 10
11.2

38.25
36.35
24.20
22.00
10.9

20.00
18.45
21.20
19.60
10.5

22.50
20.55
24.55
22.80
10.2

24.95
23.30
27.65
25.10
9.7

20.15
17.75
21.25
19.40
9.5

24.05
22.55
27.90
24.80
9.0

40.85
39.70
26.00
23.55
9.4

26.70
26.05
20.20
17. 75
9.4

24.55 r' 25. 60 32.80
31.15
24. 00
22.95
20.35 'r 21. 20 20.45
18.85
18. 95 18.05
10.2
9.7
'9.8

Other machinery and equip., qtrly. shipments:
Construction machinery (selected types),
total 9
mil. $..
Tractors tracklaying total
do
Tractors wheel (con off-highway)
do
Tractor shovel loaders (Integral units only),
wheel ind tracklaying types
mil $
Tractors, wheel (excl. garden and contractors'
off -high way types)
mil $
Farm machines and equipment (selected types),
excl tractors©
mil $
ELECTRICAL EQUIPMENT
Batteries (auto, replacement), shipments
thous..
Household electrical appliances:
Ranges (incl. built-ins), sales, total!
do
Refrigerators and home freezers, output f
1957-59=100..
Vacuum cleaners, sales billed __ __
thous
Washers, sales (dom. and export)-.
do
Driers (gas and electric), sales (domestic and
export)....
thous..

128.7

152.0

••1*319.
1 'i5380. 9
15
78. 6 i 5 98. 1
'1525.3 '1532.2
'U73.4 'i«88.2

' 321. 6
93.4
'23 0

72.6

95 4

1 150. 9 i 169. 8

142.1

220.1

209.5

* 210. 3 '1238.5

190.6

294.5

295.2

2,653
155.8

2, 442

163.8

3,550
165.0

3,057
165.9

516.8
120.5 ~~2~38.T ~'~2~25~6~ ~~2~34.y
'50.4

412. 2
115 1
'29 9

3,594

2,361

187.6

151.2

161.5
416.7
333.6
152.3

127.8
353.9
329.1

140.8
375.6
349.1

118.2
437.9
391.0

152.2
409.6
333.8

141.3
372.4
316.1

135.9
377.9
309.5

133.0

152.2

233.8

199.4

193.1

145.5

Radio sets, production §__ - _
_ do - 1, 523. 5 1, 598. 0
797.5
594. 2
Television sets find, combination), prod.§ do
Electron tubes and semiconductors, factory sales ©
54.4
73.6
mil. $._
161
148
Motors and generators:
1178
i 151
New orders (gross) :
15.3
12.4
Polyphase induction motors, 1-200 hp__mil. $__
3.0
2.6
D.C. motors and generators, 1-200 hp_.__do._.>

2,215

1,769

171.9

205.5

114.9
2 55. 8 ••239.4

266.3
244.4
3,529

1,722

1,660

1,928

2,052

2,422

' 3, 360

161.7

144.1

176.3

148.5

163.4

186.0

174.0

125.1
329.2
356.1

87.6
376.6
398.6

145,3
497.7
430.6

160.1
534.4
397.2

127. 7

213.3

274.2

279. 1

168.4
495.2
390.0

162.0
397.8
298.0

160.5
329.6
315.0

159.8
367.9
388.7

145.8

91.9

83.3

109.0

3

1, 692. 8 1, 700. 0 31,961.6 1, 702. 1 1, 825. 4 2,306.0 1, 782. 2 1, 792. 8 32,171.0 1, 757. 0 1. 764. 5 32,214.5 '2,311.9 "2,093.8
751.1 3 945. 7 596.3 ' 819. 3 ' 1,229.7 '1,085.7 "1,050.3
745.1 850.9 3 996. 0
756.8
913.8 3 931. 6
956. 3
72.4
55.0
63.4
57.5
63.3 '52.3
55.2
59.4
58.7
64.5
57.1
59.4
4204
4203
4196
163
181
170

15.8
2.5

18.1
4.5

14.7
3.2

16.4
3.4

18.9
4.1

209

228

205

191

15.5
2.7

2
r Revised.
» Preliminary.
1 Quarterly
average.
For5 month shown. 3 Data
4
cover 5 weeks; other months, 4 weeks.
Quarterly index.
Based on annual total.
||See note "||", p. S-33. AProducers' stocks, elsewhere, end of Nov. 1965, 6,300.
*New series. Shipments (from The Institute of Boiler and Radiator Manufacturers)
represent the following approximate percentages of total industry shipments: Convectors,
90 to 95%; radiators and baseboards, 80 to 85%.
9 Includes data not shown.
cf Includes data for built-in gas fired oven-broiler units. Shipments of cooking tops, not
included in figures above, totaled 31,700 units in Sept. 1965.




46.3
14.4

30.3
.1450

19.5
3.2

17.6
3.7

19.4
3.8

16.2
4.4

15.5
3.6

19.2
3.2

15.9
4.2

fAs reported by the Industrial Heating Equip. Assoc. for member companies, including
orders (not shown separately) for indust. ovens, atmosphere generating and combustion
equip., and miscel. items. Monthly data back to 1958 are available.
O Re visions for
1962 appear in the June 1964 SURVEY.
f Revisions for 1961 are available.
JRevisions for 1962-63 appear on p. 8-34 of the Apr. 1964 SURVEY.
§Radio production comprises table, portable battery, auto, and clock models; beginning
Jan. 3964, data for television sets include color sets,
0See similar note, p. S-35.

SUKVEY OF CURKENT BUSINESS

December 1965
1963
Unless otherwise stated, statistics through 1962
and descriptive notes are shown in the 1963
edition of BUSINESS STATISTICS

1965

1964

1964

Monthly
average

S-35

Oct.

Nov.

Dec.

Jan.

Feb.

Mar.

Apr.

May

June

July

Aug.

Sept.

Oct.

Nov.

1,364
129

1,269
108

1,267

PETROLEUM, COAL, AND PRODUCTS
COAL
Anthracite:
Production

,
, ^
._thous. sh. tons__

Prices:

Bituminous:
Production-

1,522
279

1,373
131

1,337
120

'1,340
78

1,348
61

1,262
132

1,045
23

1,305
42

1,171
45

1,313
73

1,626
93

1,256
82

1,292
88

29.39
13.361

13. 895

14. 196

14. 196

14. 196

14. 441

14. 441

14. 441

12. 005

12. 005

12. 005

12. 495

12. 495

12. 495 "12.982

38,244

40,583

45, 922

41, 877

43, 364

39, 390

37, 290

43, 150

41, 605

41, 390

42, 810

33,880

46, 310 '43,370

Industrial consumption and retail deliveries,
total 9
thous sh. tons__ 34, 102
17, 420
Electric Dower utilities
do
14, 664
6,469
Coke olants (oven and beehive)
do

35, 926
18, 586
15, 646
7,396

37, 438
18, 682
16, 472
7,987

36,973
18, 678
16, 364
7,879

41, 859
21, 174
17, 758
8, 167

42, 813
21, 471
18, 517
8,215

38, 697
19, 608
16,346
7,554

41, 394
21, 134
17, 887
8,445

35, 866
18, 323
16, 479
8,144

35,417
18, 632
16, 174
8,130

35, 584
19, 292
15, 761
8,119

36, 135
20, 018
15. 481
8,161

37, 545 '36,198 38, 057
21, 051 19, 936 20, 066
15, 562 '14,910 16, 239
8,120 ' 7, 504 7,459

1,962

1,635

2,190

1,851

2, 906

2,825

2,743

2,370

1,019

528

442

564

Stocks, industrial and retail dealers', end of
month, total 9
thous. sh. tons.. 65, 692
46, 139
Electric DO wer utilities
do
19, 103
Mig. ana mining n
,
7, 373

63, 842
48, 762
20, 149
8,666

75, 153
53, 697
21, 061
9,343

77, 283
54, 785
22, 087
9, 873

75, 342
52, 661
22, 305
10, 081

70, 435
49, 195
20, 930
9,517

67, 141
46, 589
20, 296
9,225

64, 923
44, 670
20, 070
9,424

65, 489
44, 973
20, 349
9,576

68, 692
47, 713
20, 763
9,749

71,418
49, 857
21, 311
9,970

66, 149
47, 482
18, 407
7,744

-

.....thous. sh. tons__

Retail deliveries to other consumers

do

Retail dealers

do

72, 986
52, 017
20, 696
9,112

366

395

411

376

310

256

183

167

216

250

260

296

292

273

3,997

4,973

3,718

3,791

i 2, 218

2,675

3,040

4,268

4,707

5,069

4,231

5,086

5,160

5,560

4.798
6.895

4.810
7.016

4.810
7.094

4.810
7.144

4.788
7.176

4.789
7.175

4.785
6.960

4.804
6. 582

4,806
6.551

4,799
6. 595

4.799
6.645

4.786
6.833

'127
5,476
1,382

'161
156
'142
' 5, 373 ' 5, 569 5,603
1,412
1,496
1,354

150
5, 128
1,406

181
5,732
1,448

149
5,569
1,332

136
5, 781
1,390

163
5,566
1,407

151
5,598
1,475

153
5,547
1,489

85
5,206
1,443

' 2, 322 ' 2, 195 ' 1, 971 1,855
' 1, 971 ' 1, 890 ' 1, 708 1,634
262
221
'351
'304
1,461
1,359
1,324
1,375
36
63
62
159

1,656
1,485
171
1,507
57

1,424
1,277
147
1,508
74

1, 225
1,095
130
1,539
59

1,136
993
143
1,564
60

1,118
982
136
1,548
69

1,177
1,017
160
1,511
63

1,271
1,085
185
1, 460
99

'1,484
'1,278
'206
1,418
73

1,554
2.92
250.3
87

1,522
2.92
275.2
86

1, 478
2.92
262.3
85

1,354
2.92
272.9
85

1,583
2.92
273.1
87

1,521
2.92
288. 7
89

1,784
2.92
286.1
89

1,844
2.92
270.2
86

81
4,442
1, 344

'103
5,076
1,405

_

2, 972
2, 275
697
1,200
38

' 2. 319
"1,928
'392
1,354
44

do
do
do
do
do

69, 308 '70,418
49, 244 T 50, 411
19, 768 19, 715
8,484 ' 8, 253

46, 150

1,665

450

thous sh tons
do
-- do
-~

1,266

3,923

E xports
do
Prices:
Retail, composite.
...—...$ per sh. ton.. 17.46
Wholesale:
2 4. 748
Screenings, indust. use, f.o.b. mine
do
27.014
Domestic large sizes f o b mine
do
COKE
Production:
Beehive
Oven (byproduct)
Petroleum cokef
Stocks, end of month:
Oven-coke plants total
At furnace plants
At merchant plants
Petroleum coke
Exports

840

46, 595

' 4. 790 "4.790
' 7. 017 "7.143

1,917
1,690
228

65

PETROLEUM AND PRODUCTS
Crude petroleum:
Oil wells completed
Price at wells (Okla.- Kansas)
Runs to stills
Refinery operating ratio

3 1, 691
1,718
1,705
number
2.93
2.92
2.92
$ per bbl_.
264.2
'
268.
6
' 272. 4
mil. bbl
87
87
86
% of capacity

All oils, supply, demand, and stocks: t
New supply, total
mil bbl
Production:
Crude petroleum
do
Natural-gas liquids, benzol, etc
do
Imports:
Crude petroleum
do
Refined products
.__ do
Change in stocks, all oils (decrease, — )
do
Demand, total
Exports:
Crude petroleum
_
Refined products
Domestic demand, total 9 __
Gasoline
.__ _
Kerosene
Distillate fuel oil...
Residual fuel oil
Jet fuel _
Lubricants
Asphalt
Liquefied gases

_

.,-_
..

Stocks, end of month, total
Crude petroleum
Natural-gas liquids
...
Refined products.- _ __
Refined petroleum products:!
Gasoline (incl. aviation) :
Production
Exports
„
Stocks, end of month

do
do
do__do
do

' 343. 2 ' 328. 8 ' 349. 3

'336.3

362.4

327.1

366.4

353.2

346.8

340. 9

345.5

' 347. 4

329. 1

229. 4
33.4

' 232. 2 ' 236. 3 ' 229. 0 ' 240. 9 240.9
37.0
'35.2
'37.3
'35.9
'35.7

218.6
34.3

243.8
38.4

236.8
36.7

238.3
36.8

232. 4
35.2

237.6
36.6

240.2
36.5

222.5
35.0

37.3
47.1
-15.2

32.7
41.5
-22.1

41.4
42.8
-11.3

38.1
41.6
12.2

39.0
32. 9
23.9

39.9
33.3
13.3

40.7
30.6
13.2

40.8
29.9
'10.9

43.2
28.4
4.3

378.7

349.2

377.7

341. 0

323.0

327.5

332.3

'336.5

324.8

344.4
119.6
12.0

ir

'(•)
6.3
371.3
140.4
11.0

.2
6.3
334. 5
140.9
6.3

0
5.8
317.2
149.6
4.3

.1
6.2
321.2
155.2
4.5

.4
5.7
326.2
156.7
4.9

0
5.7
'330.8
154.4
.5.9.

0
5 2
319.6
142.5
6.0

327.3

36.6
'32.3
.3

39.2
31.8
1.8

' 336. 0 ' 341. 4

34.1
30.0
4.2

31.7
39.5
-43.2

' 324. 6 ' 392. 6

.1
.1
.1
.1
.1
0
6.2
5.0
6.0
'6.3
6.5
5.4
320.9
372.
5
'
329.
9
'
386.
1
'
334.
8
'
319.
2
4
136. 0 ' 140. 5 ' 146. 8 ' 129. 8 ' 144. 0 « 125. 0
• * 14. 4
613.0
14.9
20.7
15.8
15.1

462.3
444.9
9.6

'62.5
'46.1
9.9

'57.3
'44.5
9.8

'66.1
'45.4
9.7

'95.1
'60.6
7.3

92.8
65.3
618.7

86.9
58.0
14.8.

83.9
59.4
17.2

61.0
54.9
17.6

45. .8
39.6
19.7

41.8
38.6
18.2

44. 3
37.8
18.6

47.9
36.8
'20.0

49.8
37.5
19.6

do
do
do

3.6
9.8
-419.7

3.8
10.0
'20.6

3.7
13.9
'21.1

3.6
'8.0
'22.2

3.4
3.9
'29.2

3.9
3.5
25.7

3.2
3.5
24.3

4.3
4.8
25.2

3.8
7.7
18.5

4.2
12.3
16.9

4.3
15.7
17.1

4.1
17.2
17.1

4.0
17.8
17.9

4.0
15.5.
19.0

4

831.1
246.9
33.8
4
550. 4

844.7
242. 5
38.7
563. 5

878.2
235.2
46.1
596.9

882. 5
236.8
43.2
602,4

839.2
230.1
35.7
573.5

824. 0
230.2
31.0
562.8

801.9
230.3
27.7
544.0

790.6
239.6
26.3
524.8

802.9
251.4
29.7
521.8

826.7
255.1
35.0
536.7

840.1
253.6
38.7
547.8

853.2
242.1
43.6
567.6

' 864. 1
236.4
46.7
'581,0

868.4
231.1
46.9
590.4

4135.4
.6
192. 8

' 140. 6
.7
201,5

' 145. 0 ' 139. 7 ' 145. 8
'.9
.7
.7
197.2
199.5
..187.2

8 145. 6
« 213. 9

130.5
.3
225.0

139.7
.3
224.9

133. 4
.4
217.4

137.9
.5
205.6

141.6
.7
192.6

148.5
.3
185. 1

150.4
.4
181.8

140.5
.3
180.3

.109

.102

.105

.113

.113

.113

.113

.110

.113

.113

.113

,113

.113

.113

".113

.201

.200

.200

.202

.202

.198

.192

,212

.208

.208

.213

.209

.211

.210'

.209

do
do
do

Prices (excl. aviation):
Wholesale, ref. (Okla., group 3)
$ per gaL_
Retail (regular grade, excl. taxes), 55 cities
(1st of following ino.)_ _ _ _ _ _ _ _ _ _ __$ per gal

4

2

' Revised.
" Preliminary.
1 See note "Q" for p. S-21.
Data beginning Jan. 1963
3
not entirely comparable with those for earlier periods.
Beginning Jan.
1963, data ex6
clude condensate wells formerly included.
4 §ee note 2 for p. S-36..
Beginning Jan.
1965, gasoline excludes special naphthas; aviation gasoline represents finished grades only
(alkylate excluded); commercial jet fuel (formerly included with kerosene) is now included
with jet fuel.




(e

"2.92

do
do
do

__do
do
„ _ „ _ _ do
do

_

1,455
2.92
277.1
87

327.4

34.4
30.2
.1

do

1,662
1,836
2.92
2.92
' 260. 9 ' 278. 3
88
85

5.8

e Less than 50,000 bbls.
9 Includes data not shown separately.
§ Includes nonznarketable catalyst coke.
{Revised data for months of 1962 appear on p. 28 of the June 1964 SURVEY; those for 1963Sept. 1964 will be shown later.
NOTE FOR ELECTRON TUBES, p. S-34—0 Beginning Jan. 1964, excludes sales
of receiving tubes; 1963 sales of such tubes averaged $22,800,000 per month.

SURVEY OF CUREENT BUSINESS

S-36
1963

Unless otherwise stated, statistics through 1962
and descriptive notes are shown in the 1963
edition of BUSINESS STATISTICS

1964

1964

Monthly
average

December 1965

Oct.

Nov.

1965
Dec.

Jan.

Feb.

Mar.

Apr.

May

June

July

Aug.

Sept.

Oct.

Nov.

PETROLEUM, COAL, AND PRODUCTS—Continued
PETROLEUM AND PRODUCTS— Continued
Refined petroleum products^— Continued
Aviation gasoline:
"PrnrlnpHrvn

mil

Exports
Stocks end. of month
Kerosene:

bbl

do
do

Stocks end of month
do
Price, wholesale, bulk lots (N.Y. Harbor)
$ per gal
Distillate fuel oil:
Production
mil. bbl
Imports
do
Exports
do
Stocks end of month
do
Priced wholesale (N.Y. Harbor, No. 2 fuel)
$ per gal
Residual fuel oil:
Production
mil bbl
Imports
do
Exports
do
Stocks end of month
do
Price wholesale (Okla No 6)
$ per bbl
Jet fuel' (military grade only) :
Production
mil bbl
Lubricants:
Production
do
Export^
"
do
Stocks end of month
do
Price, 'wholesale, bright stock (midcontinent,
fob Tulsa)
-- $ per galAsphalt:
Production
mil bbl
Stocks end of month
do
Liquefied petroleum gases:
Production
- . do
Transfers from gasoline plants
do
Stocks (at plants, terminals, underground, and
at refineries) end of mo - .
mil. bbl
Asphalt and tar products, shipments: t
Asphalt roofing total
thous. squares
Roll roofing and cap sheet
- - - __do__
Shingles all types
do
Asphalt siding
Insulated siding
Saturated felts

_

10.4
.4
10.7

10.7
.5
9.4

10.1
.5
8.1

10.1
.5
8.7

10.9
.6
9.1

14.7
1.8
18.2

3.8
.2
8.5

4.0
.3
8.8

3.8
.3
9.0

4.3
.4
8.5

4.0
.7
8.2

4.2
.3
8.2

4.1
.3
8.5

4.1
.3
8.7

2 13. 8
231.7

14.1
33.4

15.3
37.9

15.0
38.6

17.3
36.2

19.7
124.0

8.7
20.7

8.4
18.1

6.9
18.7

6.6
21.0

7.0
23.4

6.7
25.3

6.6
26.0

6.9
26.9

,093

.095

.099

.101

.101

.101

.095

.095

.095

.095

.095

' . 098-

: 59. 6 '58.9
.6
.8
'.2
.5
189.4 182.6

'66.8
1.9
.4
155.8

66.8
1.1
.4
130.6

61.0
.8
.2
105.3

62.2
1.4
.6
84.6

58.6
.8
.2
82.8

61.5
1.2
.3
99.4

58.7
.5
.2
116.6

65.5
.9
.3
138.5

66.4
1.1
.3
158.4

62.8
1.1
.5
172.0

.102

.096

263.8
.8
1.3
2 135. 8

'61.9
1.0
'.4
143. 5

P. 101

•-•

.092

.086

.083

.085

.089

.091

.091

.091

.087

.087

.087

.087

.087

.090

P. 093

223.0
22.7
1.3
248.6
1 57

'22.2
••24.6
1.6
42.7
1.50

22.0
24.7
1.9
45.9
1.50

'23.3
23.3
1.3
46.1
1.65

'25.1
30.9
1.5
40.4
1.80

25.3
38.7
1.5
38.3
1.80

22.4
34.2
1.7
35.7
1.80

24.7
34.7
1.6
34.4
1.75

22.0
34.1
1.4
34.5
1.75

21.3
24.6
.9
40.1
1.75

20.9
23.6
1.0
45.2
1.75

21.6
22.1
1.3
50.2
1.80

21.1
20.4
1.3
53.8
1.85

19.5
20.0
1.0
55.1
1.90

» 1.95

8.3
94

9.0
9.3

8.7
9.1

8.7
8.9

8.2
9.9

114.9
117.7

13.7
18.7

16.0
19.2

15.8
20.0

16.9
20.0

15.7
20.5

16.8
21.0

16.0
'18.9

16.0
17.9

5.3
1.5
13.7

5.3
1.5
13.5

5.4
1.7
13.0

5.3
1.5
13.3

5.7
'1.6
14.1

4.9
1.3
13.9

4,9
1.1
14.4

5.5
1.6
14.0

5.3
1.9
13.7

5.6
1.7
13.4

5.1
1.3
12.9

5.4
1.4
12.8

5.4
.9
13.3

5.1
1.4
13.0

.270

.270

.270

.270

.270

.270

.270

.270

.270

.270

.270

.270

.270

.270

9.3
16.7

9.6
16.9

11.7
11.1

8.2
11.7

6.1
14.2

5.7
16.9

5.7
19.4

7.4
22.4

8.3
23.3

12.2
23.5

12.1
20.7

14.4
18.5

14.6
16.2

13.5
14.8

24.7
15 2

4.9
'15.8

4.9
'16.6

4.6
'17.3

5.1
'23.2

4.8
20.6

4.8
19.2

4.8
20.1

4.5
14.5

4.9
13.0

4.8
12 8

4.9
12.3

4.8
13.1

4.3
14.6

230.2

35.2

43.6

40.6

31.8

26.8

23.2

21.4

25.3

31.1

35.3

40.1

43.5

43.8

5,374
2,009
3 365

5,923
2,185
3,738

7,222
2,807
4,416

5,320
2,116
3,203

3,815
1,485
2,329

3,404
1,416
1,989

3,980
1,529
2,351

5,504
2,289
3,215

5,216
1,992
3,224

6,070
2,197
3,874

7,215
2,591
4 625

7,634
2,856
4 778

8,546
3,322
5,224

7,766
3,130
4,636

7,279
2,987
4 292

66
70
82

60
57
83

83
82
91

70
47
75

50
27
62

45
25
64

47
23
70

49
38
91

37
47
68

40
61
75

50
70
89

52
66
95

70
65
109

72
69
93

75
63
82

do
do
thous. sh tons

P. 270

PULP, PAPER, AND PAPER PRODUCTS
PULPWOOD AND WASTE PAPER
Pulp wood:
Receipts
__
thous. cords (128 cu. ft.)
Consumption.
__
do
Stocks, end of month
do
Waste paper:
Consumption.
thous. sh. tons..
Stocks, end of month..
do
WOODPULP
Production:
Total, all grades
thous sh. tons
Dissolving and special alpha. _ _ _ _ _ _
_.do
Sulfate
_
__
do
Sulfite
__
__
do
Groundwood__.___
„
do
Defibrated or exploded
________do
Soda, semichem., screenings, etc
do
Stocks, end of month:
Total, all mills
_______
do
Pulp mills
do
Paper and board mills
_.
do
Nonpaper mills...
do
Exports, all grades, total. __
Dissolving and special alpha
Allother
Imports, all grades, total......
Dissolving and special alpha...
All other

_

3, 801
3,977
4 769

3,841
3,829
'4,843

4 180
4,234
4 893

3,789
3 925
4 818

4,158
4,293
4 809

4 038
4 268
4 695

4 190
4 365
4 429

3 935
3 989
4 613

4 234
4 110
4 856

4 379
4 351
4 985

4 270
4*085
5 268

4 611
4 664
5 328

861
468

787
482

737
'596

789
507

784
498

882
494

831
522

836
515

'854
'518

'720
'555

'833
'532

'840
' 520

896
511

2,510 '2 702 2 818
114
121
126
1,495 ' 1 667 1 708
224
'224
244

2 624
111
1 602
192

2 544
121
1 516
208

2 781
120
1 699
*230

2 585
117
1 584
215

2 855
144
1 754
239

2 764
122
1 694
239

2 680 2 917
'l!3
134
1 657 1 822
'218
238

2 700
' 120
1 678
220

2 949
130
1 817
258

3,835 *• 4, 156 4,220
3,870 ' 4, 143 4,273
5 124 ' 4, 760 4 807
796
501

'791
'486

2 900 2 646
'l32
110
1 787 1 605
242
242

289
3136
3252

'300
'135
'255

346
130
264

321
131
268

314
131
253

335
125
274

305
122
242

121
261

323
128
256

342
125
271

324
125
239

319
'125
247

337
122
263

305
121
256

334
126
284

4

713
263
372
78

'752
' 269
'396
87

736
275
381
80

728
268
381
80

'781

743
276
387
80

747
294
373
80

736
273
381
82

723
268
377
78

735
278
374
83

748
381
84

' 763
281
' 400
82

766
302
' 383
81

748
290
380
78

746

'462
92

do
do
do

118
44
75

134
48
85

121
46
75

112
42
70

152
59
93

fi 73

76
32
44

176
67
109

147
58
90

132
48
85

107
43

11Q

58

109
42
fi7

110
41
69

49

do...
do
do

231
22

244
23

230
21

257
24

257
26
901

210
16

244
23

301
26

251
25

244
23

288
26

245
23
222

265
23
242

253
25
228

260
23
237

3,537
1,598

3,370
1,493

4

910

991

9f)Q

000

r 228

6 15

OfiK

99 fi

984

fid.

52
07

**

01 -I

365
70
74.

PAPER AND PAPER PRODUCTS
Paper and board:
Production (Bu. of the Census):
All grades, total, seas, adj
thous. sh. tons..
All grades, total, unadjusted
-_
do .. 3,268 ' 3, 479 ' 3, 757 ' 3, 428 3,249
Paper
_
do____ 1,438 ' 1, 515 ' 1, 635 ' 1, 503 ' 1, 483
Paperboard
do
I eoo _ -1 OOQ
Wet-machine board
do
12
'12
12
'12
13
Construction paper and board
_____do
296
'316
'351
'300
'236
2
'
Revised.
•*•
.a -^
'Preliminary.
1 See note 5 for p. S-35.
- Beginning
^^&ii^iii& <
_„„„, ^auaiui
Jan.
data for w«
the
aii. 1963,
indicated items exclude certain oils which have been reclassified as petrochemical feedstocks,
a4 Effective Jan. 1963, "screenings, etc." included with "defibrated or exploded."
Effective Jan. 1963, excludes stocks of "own pulp" at paper and board mills.




3,682 3,720 3,575 ' 3, 419 '3,746 ' 3, 615 3, 891
1,611 1,609
1,532 ' 1, 488 'r 1, 608 1,543 1, 665
1, 736
1,776
1, 688 ' 1, 599 1, 787 ' 1, 730 1,848
12
11
13
11
12
11
'11
'8
11
13
262
267
323
335
324
341
324
'342
'340
366
i See note "O" for p. S-21.
JRevised monthly data for 1962 for petroleum products appear on p. 28 of the June 1964
SURVEY; revisions for 1962 and 1963 for asphalt and tar products appear on p. 32 of the Apr. 1964
SURVEY.
3,788
1,661

SUEVEY OF CUKEENT BUSINESS

December 1965
Unless otherwise stated, statistics through 1962
and descriptive notes are shown in the 1963
edition of BUSINESS STATISTICS

1963

1964

1964

Monthly
average

S-37

Oct.

Nov.

1965
Dec.

Jan.

Feb.

Mar.

Apr.

May

June

July

Aug.

Sept.

Oct.

101.4
110.7
96.5
93.8

Nov.

PULP, PAPER, AND PAPER PRODUCTS—Continued
PAPER AND PAPER PRODUCTS-Con.
Paper and board— Continued
New orders (American Paper and Pulp Assoc.):
All grades, paper and board — thous. sh. tons-Wholesale price indexes:
Printing paper
--- 1957-59=100..
Book paper, A grade
do
Paperboard 9
do
Building paper and board
-- -;
do
Selected types of paper (APPA) : %
Fine paper:
Orders, new
-thous. sh. tons..
Orders unfilled, end of month _. __ ____do

3,284

3,469

3, 754

3,395

3,273

3,534

3,421

3,936

3,733

3,800

3,631

3,632

P 3,753

101.4
107.4
94.7
96.2

101.4
109.4
96.5
94.2

101.4
109.9
96.4
94.3

101.4
109.9
96.4
93.9

101.4
109.9
96.4
93.3

101.4
109.9
96.4
93.4

101.4
109.9
96.4
92.2

101.4
109.9
96.3
92.2

101.4
110.7
96.3
92.3

101.4
110.7
96.3
92.7

101.4
110.7
96.3
92.7

101.4
110.7
96.3
93.0

101.4
110.7
96.3
'93.3

101.4
110.7
96.4
'93.4

175
100

186
92

192
89

191
106

175
98

177
116

195
127

223
128

213
136

208
135

209
145

200
161

205
'159

v 204
v 158

178
175

187
186

197
193

182
186

183
180

191
175

187
190

216
223

203
201

201
207

200
206

186
196

'207
'211

v 199
v 205

__do
_do

448
389

483
402

538
439

478
420

496
437

510
448

484
465

577
485

511
488

512
508

519
522

'530
'558

'511
'519

v 500
* 524

____do
do

439
439

468
468

503
503

477
477

472
472

490
490

464
464

522
522

497
497

504
504

503
503

'471
'471

'494
'494

*489

do
_ do _

355
164

366
168

397
193

364
203

362
190

393
214

387
240

411
233

388
224

384
226

367
232

'357
226

'392
'236

v 351
v 215

do
____do ~_

353
351

363
361

397
394

360
359

359
360

388
375

370
365

412
414

389
392

. 392
380

359
361

'357
'358

'394
'384

v 365

do_
do
do

553
552
268

608
609
238

664
661
218

643
665
196

614
632
178

606
556
228

582
500
311

650
595
366

622
677
311

648
691
268

634
697
205

651
642
209

663
646
225

637
637
225

686
694
217

do
do
do _

185
184
37

188
189
30

198
196
28

183
184
27

176
181
22

191
179
34

174
180
27

185
187
25

183
188
20

198
196
21

169
171
19

168
167
20

196
189
27

160
167
20

182
178
23

Consumption by publlshersd1
do
Stocks at and in transit to publishers, end of
month cf
__thous. sh. tons

465

503

532

550

535

490

461

535

544

570

527

477

517

509

591

588

566

599

574

585

571

585

559

544

526

560

619

634

626

580

Imports
-do
451
Price, rolls, contract, f.o.b. mill, freight allowed
or delivered
-- $persh. ton.. 134.40

496

527

546

584

422

429

554

500

515

581

518

525

573

134. 23

134. 40

134. 40

132. 40

132.40

132.40

132.40 132. 40

132.40

132. 40

132. 40

132. 40

1386
574
1384
88

410
627
405
92

384
576
391
88

358
563
358
79

2390
2559

390
89

408
597
408
92

425
642
414
93

417
692
410
91

441
742
423
92

412
760
405
89

384
818
359
78

412
818
416
90

413
848
415
90

444
844
441
94

429
847
443
94

11, 436

13, 323

10, 899

11, 599

11, 039

10, 881

12, 519

12, 112

11, 865

12,674

11, 560

12, 639

13, 683

13, 111

13,147

125.7

134.0

121.3

128.7

115.5

114.7

' 132. 4

125.5

' 119. 9

'133.0 ' 119. 1 ' 129. 9 ' 135. 5 v 135.8

Production
Shipments
..
Printing paper:
Orders new
Orders, unfilled, end of month

-

Production
__
Shipments
Coarse paper:
Orders new
Orders unfilled, end of month
Production
Shipments
.
Newsprint:
Canada:
Production
...
Shipments from mills
Stocks at mills, end of month
United States:
Production
Shipments from mills
Stocks at mills, end of month

do
do

Paperboard (National Paperboard Assoc.) : §
1357
Orders, new (weekly avg )
. thous. sh. tons
Orders, unfilled, end of month
,__do
518
1358
Production, total (weekly avg )
do
87
Percent of activity (based on 6.5-day week)
Paper products:
Shipping containers, corrugated and solid fiber,
10, 716
shipments©
mil sq. ft surf, area
Folding paper boxes, shipments, index of physical
volume
1947-49= 100— 126.1

v 489

*368

539

132.40 Pl32. 40

RUBBER AND RUBBER PRODUCTS
RUBBER
Natural rubber:
Consumption
thous. Ig. tons__
Stocks, end of month _
___ ____
__do
Imports, incl. latex and guayule—
do
Price, wholesale, smoked sheets (N.Y.)___$ perlb__
Synthetic rubber:
Production
Consumption.
Stocks, end of month
Exports
Reclaimed rubber:
Production
_ _ _
Consumption
Stocks, end of month

40.12
73.07
36.77
P. 252

44.29
78.93
30.26
.261

thous. Ig. tons-- 134. 04 147. 08
108. 90 120. 96
do
281.05 289.93
do
do
23.60 26. 77

155. 75
137. 94
289 03
22 37

_

do
do
do

38.10
72.70
31.63
p. 263

23.45
21.97
30.30

23 02
21.93
30.81

..thous-. 11,589

24 52
23.21
31.16

39.16
78.95
38.83
.275

150.
116.
286.
29

88
69
96
84

21 40
19.61
31.32

40.79
86.85
44.41
.255

42.24
90.19
19.02
.261

42.13 48 24
79.12
91.10
27.53
42.54
.261 . .260

45 55
87 34
52.92
.276

41.52
93.87
31.72
.283

42 42
95 68
42.22
.268

157. 52 151. 54
124. 97 125. 19
297. 13 314 21
29 14 3 10 51

144. 99
126. 43
320 67
8 97

155. 54
138 37
311 20
30 91

153. 28
129 16
307 65
35 08

155. 61
121.65
317 81
29 27

21 81
22.23
30.08

22 99
22 66
30.88

22 31
22 53
30.15

26 78
25 57
30 73

25 42
24 35
29 84

22 02
21 51
30 22

23 06
22 96
29 60

144.
125
315
23

72
94
37
87

37 00 ' 40 94 44 40
97 04 '96 20
96 90
30.66 28.42
39.90
.258
.243
.248

141. 35 148. 59
107 88 '118 06
325 26 r323 56
24 32 24 87

137. 79
129 70
310 32
21 70

22 59
21 09
22 38
20 23 ' 20 93 22 34
29 96
30 88
30 39

46 50
96 44
41.91
.241
156
138
304
25

.241

37
55
97
17

23 44
24 12
29 06

TIRES AND TUBES
Pneumatic casings:
Production

_

Shipments, total
Original equipment.Replacement equipment
Export
Stocks, end of month
Exports (Bu. of Census)..
Inner tubes:
Production
Shipments
Stocks, end of month
Exports (Bu. of Census)..

13, 176

14, 892

12, 797

13,632

13, 884

14, 126

15, 242

14, 633

13, 228

13, 460

12, 174

12, 822

13, 921

_

do
do
do
do

11, 546
3,928
7,489
129

12, 541
4,004
8,364
173

12, 805
2,594
9,922
289

11 120
4,035
6,870
214

12 96£
5,366
7, 364
231

13 237
4 954
8,136
148

11 864
4,830
6,796
239

14 327
5 712
8,352
263

15 408
5 341
9,782
285

14 688
5 049
9,439
200

15 605
5 336
10, 033
236

14 227
4 222
9,689
316

12 145
2 215
9,' 682

14 863
4 178
10, 441

_

do
do

29, 985
82

32, 364
132

34 731
205

36 608
167

37 553
165

38 264
369

40 532
158

41 467
'322

40 601
211

39 515
208

37 207
199

35 036
250

36 095

3 305
3,396
9,467
76

3 536
3,491
10, 018
75

3 607
3 271
10 908
81

3 070
3 008
11 198
75

3 257
3 029
11 471
78

3 383
4 821
10 160
339

3 628
3 533
10 285
41

4 016
3 7^50
lo' 731
115

3 793
3 410
ll' 225
102

3 079
3 070
11 334
100

3 290
3 438
11 266
82

q on?
3 297
11 196
'l28

q OKI

q /IKK

3 521
11 015

3 4.13

_

_do.-_
do
do
do

' Revised.
* Preliminary.
1 Weekly average for year.
2 Beginning Jan. 1965, data
are 4-week averages for period ending on the Saturday nearest the end of the month.
3 See
note "O" for p. S-21.
9 Revisions for 1961 are available upon request.
tMonthly averages for 1962 for new orders, production, and shipments reflect revisions
to adjusted annual totals; revisions by months not available.




248
173

77

244

35 110
'l91

259

11 145

'123

174

cf As reported by publishers accounting for about 74 percent of total newsprint consumption
in 1963 and 75 percent in 1964 and 1965,
§ Revised to reflect weekly averages for new orders, production, and percent activity (on
basis of 6.5 days per week); comparable data prior to 1962 will be shown later.
©Revisions
by months for 1962-Feb. 1963 will be shown later.

SURVEY OF CUEEENT BUSINESS

S-38
Unless otherwise stated, statistics through 1962
and descriptive notes are shown in the 1963
edition off BUSINESS STATISTICS

Monthly
average

1965

1964

1964

1963

December 1965

Oct.

Nov.

Jan.

Dec.

Feb.

Mar.

Apr.

May

June

July

Aug.

Sept.

22, 535 29, 987

34,416

39, 192

39,292

41, 242

37, 531

700. 0
27.3
147.5

758. 3
29.6
165.9

787.8
26.5
185.4

761.3 '768.2
26.2 '28.9
171. 0
175. 5

728.9
27.5
166.3

Oct.

Nov.

STONE, CLAY, AND GLASS PRODUCTS
PORTLAND CEMENT
_thous. bbl._ 29, 441 30, 635
74
76
29, 354 30,665
thous bbl

Production, finished cement
Shipment*? finished cement
Stocks, end of month:
Finished
Clinker

do
do

36, 333
89
40, 693

31, 100
79
27, 950

25. 968
64
19, 969 i 17, 539

15, 939

38,029
23, 070

39, 555
23, 060

30, 341
15, 302

33, 587
15, 624

39, 585
18, 687

617. 1
28,6
147.7

645.3
25.9
153.1

737.4
28.4
183.0

647.1
22.6
132.9

494.2
22.4
111.2

463.6
23.3
93.5

418. 8
21.5
90.1

578.4
23.6
123.7

31.5

29.5

32.2

31.9

28.1

20.1

20.2

26.3

27.0

26.8

29.8

31.1

30.6

30.3

22.3

23.8

24.4

22.1

21.3

20.5

21.4

25.9

24.3

23.6

26.4

24.0

24.8

24.7

106.1

107.1

107.2

107.2

107.6

107. 6

107.7

107.8

107.8

107. 8

107.8

107.8

108.8

109.2

CLAY CONSTRUCTION PRODUCTS
Shipments:
Brick, unglazed (common and face)
mil. standard brick..
Structural tile, except facing
thous. sh. tons..
Sewer n|r)6 and fittings vitrified
do
Facing tile (hollow), glazed and unglazed
mil. brick equivalent..
Floor and wall tile and accessories, glazed and unglazed
mil sq. ft
Price index, brick (common) , f.o.b. plant or N. Y.
dock
1957-59—100
GLASS AND GLASS PRODUCTS
Flat gl ass, mfrs.' shipments (qtrly. average or total)
thous. $.. 79, 325 81, 326
35, 370 36, 188
PI f
H fh fl t l'
hi
"V
dr»
43,955 45, 138
Glass containers:
Production

84, 599
38,156
46, 443

89, 869
38, 848
51, 021

83, 162
32, 643
50, 519

81,797
29, 299
52 498

-thous. gross.. 15,134

15,784

15,923

14,812

13,511

15,818

15. 663

12, 638

16, 684

17,672

18, 600

18,460

19,333 '16, 733

18, 239

14,692
Shipments, domestic total
do
General-use food:
1,602
Narrow-neck food
do
Wide-mouth food (incl. packers' tumblers,
jelly glasses, and fruit jars)
thous. gross. . 4,100

15,398

14,917

14,122

14,671

14, 575

14, 265

19, 176

12, 813

15, 732

17, 948

16,894

18,361 '17,393

16, 638

1,736

1,792

1,356

1,300

1,301

1,323

2,066

1,176

1,398

1,664

2,080

2,830 ' 2, 886

1, 932

4,227

4,471

4,024

4,068

4,326

4,132

5,453

2,838

3,931

4,636

4,431

4,976

4,929

5,030

do
do
do

1,350
2,453
1,349

1,472
2, 771
1,396

956
2,274
1,679

1, 179
2,137
1, 550

1,659
2,451
1,363

975
2,422
1,375

1,028
2,417
1,321

1,836
3,661
1, 968

1,541
2,761
1,082

2,277
3, 355
1,221

2,465
3,915
1,352

2,089
3,852
1,155

1,764
3,357
1,382

1,371
2,838

1,379
2,332
1,759

do
do
do

2,972
739
127

3,064
614
118

3,000
621
124

3,225
536
115

3,192
489
149

3,471
602
103

3,305
640
99

3,236
835
120

2,776
541
98

2,947
524
79

3,275
552
89

2,692
509
86

do

25,621

26,413

26,432

26,929

25, 375

26, 515

26, 794

20, 274

24, 074

25,733

26, 112

26,812

Crude gypsum, qtrly. avg. or total:
Imports
...thous. sh. tons..
Production.
.___„
do

1,372
2,597

1,562
2,671

1,567
2,588

1,072
2,365

1,630
2,622

Calcined, production qtrly avg or total

2,295

2,360

2,202

2,132

2,365

1,052
70

1,140
73

1,206
72

815
76

1,300
87

259
248

243
248

204
241

208
210

237
263

..mil. sq. ft— 387. 3 373. 7
do
1, 777. 3 1,885.6
do
62.0
63.2

327.1
1,790.0
58.1

306. 4
1,728.9
50.6

377.6
2, 149. 2
78.9

Beverage _ _ ...
Beer bottles
Liquor and wine .

__.

Medicinal and toilet .
Chemical, household and industrial
Dairy products
Stocks, end of month

' 1, 488

3,371 '3,193 3,548
'560
552
564
106
128
117
27, 314 26,401 27, 537

GYPSUM AND PRODUCTS

do

Gypsum products sold or used, qtrly. avg. or total:
Uncalclned uses
_. .thous. sh. tons..
Industrial uses
do
Building uses:
Plasters:
Base-coat
„
...
do
All other (incl. Keene's cement)
do
Lath
Wallboard
Allotherl

.

TEXTILE PRODUCTS
WOVEN FABRICS
Woven fabrics, weaving mills: f
Cloth woven (gray), total_
mil linear yd
Cotton (gray)
do
Stocks, total, end of period^... ...
.do
Cottoncf-.-.do
Orders, unfilled (gray and finished), total, end of
period t
mil linear yd
Cotton (gray and finished) f
do

967
728
1,180
829

1 056 2 1, 237
2 893
761
1,068 1,071
661
673

1,000 2 1,2 107
787
714
1,073 1,068
661
670

1,028
740
1,021
614

1,040 2 1,2 286
745
914
992
949
567
597

1,026
736
953
572

1,050
751
979
588

2 741
1 865

3 661
2 500

3 320
2 174

3 541
2 357

3 661
2,500

3,642
2,536

3,917
2,807

4 166
3,067

4 312
3,153

3 15,148

9 061

4,032
2,919

2

2

1,258
2
883
1,046
619

1,2 258
893
1,038
621

823
581
1,027
615

1,036
730
1, 065
636

4 289
3,121

4 135
3,025

4,107
3,019

4 042
2,949

180

922

3,663

COTTON
Cotton (exclusive of linters) :
Production:
GinningsA
thous running bales s 15,290
Crop estimate , equivalent 500-lb. bales
thous. bales 315,334
Consumption 0
do
699
Stocks in the United States, end of mo., total Q
thous bales
17 789
Domestic cotton, total O
do
17,661
On farms and in transit
do
3,481
Public storage and compresses O
do
12 818
Consuming establishments
do
1,361
128
Foreign cotton, total O
..
do

315,180
745

2

882

'19 551 '24 596
'19 437 '24, 471
' 3, 830 ' 7, 771
14 290 15 754
946
1,317
114
125

12, 383 413,595

14, 939

15,148

723

2799

729

741

2914

735

23, 709
23, 589
5,001
17, 354
1,234
120

22, 404
22, 292
2,130
18, 706
1,456
112

20 976
20, 869
1,114
18,115
1,640
107

20, 138
20, 034
808
17. 464
1,762
104

18 813
18, 718
873
16, 021
1,824
95

17, 340
17, 252
388
15, 080
1,784
88

' Revised.
1 Beginning Jan. 1965, excludes finished used in prepared masonry
cement
(128,000 bbls. in Dec. 1964).
2 Data cover 5 weeks; other months, 4 weeks. 3 Total crop for
year.
* Ginnings to Dec. 13. « Ginnings to Jan. 15. • Dec. 1 estimate of 1965 crop.
§ Comprises sheathing, formboard, and laminated board.
f Effective Feb. 1965 SURVEY, monthly data (back to 1960) reflect adjustment to benchmarks
and other basic changes; see Census report: "Woven Fabrics, M22A (64)-Supplement 1."
Beginning Jan. 1964, data for total cloth are not comparable with those for earlier periods;
manmade fabrics classifications were revised and drapery fabrics included.




5

742

2

897

595

733

16 380 15 240 14 291 28 401
16 300 15 166 14 223 28 306
448
511
230 14, 620
14 099 13 056 12 521 12 512
1 753 1 599 1 472 1,174
67
80
95
74

2

886

8,920
742

11, 718
6 15, 059

27, 366 26 301
27, 265 26, 202
12, 157 7,544
14, 037 17 457
1,071 1,201
99
101

d*Stocks (owned by weaving mills and billed and held for others) exclude bedsheeting,
toweling, and blanketing, and billed and held denims; small quantities of finished fabrics
are included, f Unfilled orders cover cotton fabrics (gray and finished, except bedsheeting,
blankets, and toweling) and manmade fiber fabrics (gray, except blanketing).
ATotal ginnings to end of month indicated, except as noted. O Revisions for Aug. 1962Dec. 1963 are available: for stocks, monthly avar^es also reflect cotton released by GSA
from the cotton stockpile (beginning July 1962).

SURVEY OF CURRENT BUSINESS

December 1965
Unless otherwise stated, statistics through 1962
and descriptive notes are shown In the 1963
edition of BUSINESS STATISTICS

1963

S-39
1965

1964

| 1964

Monthly
average

Oct.

Nov.

Dec.

Jan.

Mar.

Feb.

Apr.

May

June

July

Aug.

Sept.

Oct.

Nov.

TEXTILE PRODUCTS—Continued
COTTON— Continued
Cotton (exclusive of linters)—-Continued
Exports
thous. bales.
Imports
do
Prices (farm), American upland
cents per Ib.
Prices, middling 1", avg., 15 markets.
do
Cotton linters:
ConsumptionO
Productionf _ ._ .
Stocks end of mo.fO

_ _ thous. bales.
do
do

363
11
232.0
233.2

437
10
329.5
330.7

111
129
666

116
131
671

COTTON MANUFACTURES
Spindle activity (cotton system spindles):©
Active spindles, last working day, totaL.thous . 18, 628 18, 541
15,813 15,346
Consuming 100 percent cotton
_
do
9,849 10, 292
Spindle hours operated, all fibers, total _ _ mil467
456
Average per working day
-.do. __
8,349 8,546
Consuming 100 percent cotton
do
Cotton yarn, natural stock, on cones or tubes:
Prices, f.o.b. mill:
.644 » .630
20/2, carded, weaving
__ $perlb
.912 * .892
36/2, combed, knitting!do
Cotton cloth:
Cotton broadwoven goods over 12" in width:
2,190 '2,242
Production, qtrly. avg. or TotalO __mil.lin,ydOrders, unfilled, end of mo., as compared with
12.0
10.6
avg. weekly production
No. weeks' prod-Inventories, end of mo., as compared with avg.
5.0
5.5
weekly production
No. weeks' prod._
Ratio of stocks to unfilled orders (at cottoi?
.43
.52
mills), end of mo., seasonally adjusted -29.49
25.18
Mill marsinsf
cents per Ib
Prices, wholesale:
38.1
36.6
Denim, mill
finished
...cents per yd
Print cloth, 39.inch, 68 x 72
do... . 15.9
17.0 p 17 A
Sheeting, class B, 40-inch, 48 x 44-48-. -do
MANMADE FIBERS AND MANUFACTURES
Fiber production, qtrly. avg, or totalO
mil. lb__ 659.2
177.4
Filament yarn (rayon and acetate)
do
Staple, Incl tow (rayon)
do
144.8
289.0
Noncellulosic (nylon, acrylic, protefn, etc ) do
Textile glass
fiber
do
48.0
Exports:
Yarns and monofilaments
_thous. lb._ 8,196
Staple, tow, and tops
do
4,187
Imports:
Yarns and monofilaments—
do___
680
Staple, tow, and tops.
do
10, 463
Stocks, producers', end of mo.:
Filament yarn (rayon and acetate)
_.mil. lb._
56.8
Staple, incl. tow (rnyon)
do
35.5
Noncellulosic
flberO
»._.do
9 113.3
Textile glass fiber... „
do
9 28. 5
Prices, rayon (viscose) :
Yarn, filament, 150 denierA. _.._...
$ per lb_.
.82
Staple, 1.5 denier.
_
do
.27
Manmade fiber and silk broadwoven fabrics: J
Production, qtrly. avg. or total 9--.mil. lin. yd-_ 765.2
Filament yarn (100%) fabrics < ? . _ _ . _
do
Chiefly rayon and/or acetate fabrics _ do
Chiefly nylon fabrics
do
Spun yam (100%) fabrics (except blanketing) 9
mil. lin. yd
Rayon and/or acetate fabrics and blends
do
Polyester blends with cotton, ...
do
Combinations of filament and spun yarn fabrics
mil. lin. yd
Exports, piece goods.
thous. sq yd
WOOL
Wool consumption, mill (clean basis):©
Apparel class
....mil. lb_.
Carpet class _
do
Wool imports, clean yield .
do
Duty-free (carpet class)*
__do
Wool prices, raw, clean basis, Boston:
Good French combing and staple:
Graded territory,
fine
$ per lb_..
Graded fleece, f£ blood
do
Australian, 64s, 70s, good topmaking
do.__.

12, 972

290
44
31.0
30.6
4

244
0)
27.6
30.6

181
1
27.6
30.6

123
195
709

110
186
762

109
167
798

18, 667
15, 286
11, 093
444
4
9, 155

18, 744
15, 322
9,905
495
8, 109

18, 750
15, 308
10, 031
502
8,214

.617
.875

.617
.876

.617
.876

388
1
30.1
30.6

747

0)
29.3
30.6

4

584
7
28.6
30.7

407
4
29.5
30.8

251
4
29.7
30.8

141
175
815

112
132
800

112
105
768

18, 651
15, 157
12, 341
494
4
10, 079

18, 676
15, 126
9,938
497
8,084

18,846
15. 192
10, 116
506
8,196

.617
.878

.622
.878

.622
.878

19.1

19.1

4

398
2
30.2
30.9

266
3
29.9
30.7

117
53
28.9
30.0

133
71
715

86
53
671

106
44
605

18,692
14, 962
12, 287
492
4
9, 847

18, 757
15, 030
8,343
417
6,713

18, 929
15, 119
10, 131
506
8,071

.627
.885

.632
.889

.632
'.898

19.5

24.2

18.8

18.6

4.1

5.1

4.0

4.1

4.0

4

226
3
29.5
29.7
4

29.4
29.7

131
198
572

109
209
644

18, 672
15,350
12, 175
487
4
10, 003

18,744
15, 398
9,909
495
8,166

.617
.869

.617
.869

13.7

14.8

18.2

15.6

17.2

18.0

4.7

4.7

5.2

4.3

4.1

4.0

.3.9

3.9

.36
34.53

.33
34.62

.30
35.22

.27
35.83

.25
36.02

.22
36.16

.20
36. 49

.19
37.30

.20
37.49

.21
37.97

.21
538.31

.21
38.57

.22
38.62

34.9
16.5
17.5

34.9
17.0
17.5

34.9
17.5
• 17.5

34.9
17.8
17.5

35.1
18.0
17.5

34.9
18.0
17.5

34.9
18.5
17.5

34.9
18.8
17.5

34.9
18.8
17.5

34.9
18.8
17.5

34.9
18.8
17.5

34.9
18.8
17.5

•T> 34. 9
p 18.8
*> 17.5

902.0
210.5
162.0
458.4
71.1

765.3
750.4

4

4

4

'122, 327

4

119
189
641

18,960
15, 036
12, 327
493
4
9, 812

18, 992
15, 050
10, 341
517
8, 218

' . 637 P .637
.900

2,368

2,364

' 835. 9
203.3
165. 4
' 401. 8
65.4

819.3
199 8
154 2
402.8
62.5

754. 5
194.4
148.6
351.7
60.1

4

138
123
'572

' 879. 8
207.9
164.2
' 438. 0
'69.7

18.7

9,706
4,701

10, 496
5,367

10, 245
5,564

13, 078
7, 831

§3,786
8 2, 225

5,575
2,671

12, 100
7,184

11, 041
7,492

7,559
4,686

10, 071
4,976

8,081
2,840

8, 189
3,336

8, 282
4,034

767
11, 141

935
8, 433

706
10, 346

1,208
11, 140

1,814
4,948

975
5,837

1,032
16, 470

1,087
8, 892

970
9,781

1,564
9,505

1,023
9,689

1,114
13, 412

1,313
12,670

36.9
50. 7
132. 2
8 33. 1

33.1
47.8

32.4
46.5

32.6
51.3
134.4
36.8

33.9
49.3

32.4
49.0

32.1
51.8
' 131. 0
34.1

32.9
52.4

33.5
55.5

34.5
60.6
145.7
33.7

40.1
69.6

46.3
73.0

52.9
71.1
178. 6
37.0

55.3
68.5

Pio.78
v .28

.78
.28

.78
.28

.78
.28

.78
.28

.78
.28

.78
.28

.78
.28

.78
.28

.78
.28

.80
.28

.80
.28

.80
.28

P .80
P . 28

11, 148

11, 910

13,869

27. 3
10. 8

19.5
6.5

'23.2
8,7

27.2
10.9

1. 195
1.155
1.075

1.218
1.172
1.100

1.265
1.220
1.225

1.275
1.253
1.225

1.275
1.255
1.225

106.7

107.1

109.0

109.0

109.0

9

' 886. 4
' 395 8
'213 0
r 70 8

12951. 8
12426. 4
12234. 3
1273.6

973.0
417.2
221.6
76.7

980.6
416.7
219.6
77 2

' 315 1

12340.8

361. 5

374 4

' 166. 4
' 114 2

12170. 8
12132. 3

174.4
151.2

162 0
171 9

' 118. 1
15, 439 16, 057

20.9
13.4
23.8
14.0

n 19. 1
n 10. 0
18.3
9.5

1.326
1.175
1.285

1.397
1.286
1.389

4
4

14, 538

21. 7
12. 7
13.6
6.8

16.2
9.7
16.6
6.2

1.405
1.318
1.375

1.392
1.325
1.375

12127. 7
17, 742

§6, 716

10, 821

19.4
10. 7
25.2
12.6

19.4
9.3

19.5
8.9

1.337
1.286
1.235

1.325
1.216
1.200

1.275
1.155
1.125

108.7

108.3

4
4

137.0
20, 078

18, 797

14, 660

24. 7
11.0

22.5
8.7

22.1
8.7

1.215
1.138
1.095

1.195
1.130
1.075

1.195
1.145
1.075

106.9

105.7

106.2

4
4

29.0
29.6

131 4
13,494
4
4

38.58

1.279
1.235
1.225

WOOL MANUFACTURES
Knitting yarn, worsted, 2/20s-50s/56s, American
108.7
109.0
107.9. 108. 0
system, wholesale price 8— ——..-- 1957-59=300.. 105.4
Woolen and worsted woven goods, exc. felts:
255,488
Production, qtrly. avg. or total© — -thous. lin. yd» 71, 101 63, 799
253,047
68, 485 61,830
Apparel fabrics total
do
234.309
43, 246 40,839
Suiting, price (wholesale), flannel, men's and
96. 1
96. 1
96. 1
95. 8 v 95.9
boys', f.o.b. mill
1957-59=100..
3
r
Season
2 Season average.
Revised.
p Preliminary.
1 Less than
500 3ales.
\
5
4
See
average for sales prior to Apr. 1, 1965.
For 58w eeks; otl ler mont hs, 4 weeks.
9 Quarterly average.
note '%"
6 For 11 months.
7 For month.
S3e "O," I3. S-21.
12
1° See note "A." n For 52 weeks.
For 14 wee ks.
O Revisions for 1962-63 are available.
9 Includes data no b shown,
fProduction and stocks of linters at oil mills revis>ed to ap proxima te running bales; data
back to Aug. 1958 are available.
^Margins reflect e qualizati on payirtents to domestic users
(Aug. 1964-July 1965, 6.5 cents; beginning Aug. 1965 5.75 cen ts per po und) ; data also reflect




65,904
63, 559
36,914

73, 309
71, 386
43,868

96.1
96.8
96.8
96.8
102.4
102.4
101.1
101.7
101. 7
101.7
substitution of two clo ins used in the average (compareible datei back t o Aug. 1 963 are
available) . § Data beg inning A.ug. 1965 are not ? trictly cc)mparabl e with &irlier pri 26S.
AEffective J an. 1964, prices niflect chf mge in ' 3LS soui^ce and are not c omparab le with
those for earlier periods, Dec. 19 53 price, sompara Die with ;Fan. 1964, estimate d b y O B E,$.78.
JSee correspo nding no te, botto m, p. S- 10.
*New series. See corr espondirig note iii the Au?. 1964 SiJRVEY.
©Beginning July 196<I index, yam spe eification changec[ to "Am erican sy stem, m anufacturer to knitter

SURVEY OF CURRENT BUSINESS

S-40
Unless otherwise stated, statistics through 1962
and descriptive notes are shown in the 1963
edition of BUSINESS STATISTICS

1963

1964

1964

Monthly
average

December 1965

Oct.

Nov.

1965
Dec.

Jan.

Feb.

Mar.

Apr.

May

June

July

Aug.

Sept.

Oct.

18, 764

Nov.

TEXTILE PRODUCTS—Continued
APPAREL
Hosiery shipments
Men's apparel, cuttings :t
Tailored garments;
Suits
Overcoats and topcoats

15, 007

15, 794

17,417

15,284

15,671

14, 170

15, 534

17, 147

15, 033

13, 905

17,289

16, 120

17,105

17,620

1,713
357

1,717

2,177

398

1,840

1,711

1,841

332

1,785

2,103

2, 059

1,889

1, 995

1, 181

r 1, 858

1,868

931

887

942

9,551
2,109

10, 740

2,382

11, 108
2, 679

336
316

406
324

398
369

Women's, misses', juniors' outerwear, cuttings: t
Coats
thous. units. _ 2,046
21,914
Dresses
do__
828
Suits
do

2,133
22, 483

21, 178

901

820

1,363

1, 374

1,575

thous doz. pairs
thous. units. _
do----

Coats (separate) dress and sport

do

Shirts (woven fabrics) dress and sport thous doz
Work clothing:
Dunffareesand waistband overalls
do
Shirts
do

Blouses waists and shirts
Skirts '

thous doz
do

825

775

3,096

834

280

1,087
9,601

2,444

343
330

2,438

256

193

930

1, 035
10, 354

193
1,022

350

418

1,034
12, 405

399
324

2,499

11,240
2,505

1.095
12, 228
2,671

326
305

358
339

346
313

442
362

1,696

10, 054

2,425

2,804

446
1,073
11, 937

2,573
367
308

485

1,099
12, 465

321

' 447

415

661 ' 1, 062

2,499

10, 214
1,894

436
331

356
261

1 004
'II,
937 12, 421
T
2, 439
2,542

'410
'355

465
327

16,759
840

2,104
20, 985
1,138

2,141

813

899

23, 630
1,362

30,228

27, 879

678

25,067
518

24, 311

903

19,086
988

21, 932

1, 279

20, 660

1,349

1,170

1,506

1,495

1, 670

1, 505

1,359

1,445

' 1, 284
1,001

'1,291

1,305

18, 512

613

525

745

2,450

752

830

841

1,340

902

2,354

933

2,301

2,437
904

'915

2,350
975

866

TRANSPORTATION EQUIPMENT
AEROSPACE VEHICLES
mil. $__ 4,409
3,522
do
4,021
Sales (net), receipts or billings, qtrly. avg. or total
mil. $_. 4,102
3,301
TJ S Government
do
Orders, new (net), qtrly. avg. or total
U S Government

4,492
3,379
4,070

3,995
2,971
3,534

4, 694
2, 960
4,341

5, 106
3,298
4,589

4,172
3,204

4,262
3,247

4,050
3,011

4 206
3,081

Backlog of orders end of year or qtr $
do
U S Government
do
Aircraft (complete) and parts
do
Engines (aircraft) and parts
do
Missiles, space vehicle systems, engines, propulsion units and parts
mil $
Other related operations "(conversions, modifications) products services
mil $

13, 904
10, 950
5,301
1, 510

15,218
11,658
6,276
1,527

15,218
11,658
6,276
1,527

15, 862
11, 607
6,377
1 850

16,762
11, 824
7,056
1 771

4,646

4,558

4,558

4,602

4, 725

1,295

1,418

1,418

1,514

Aircraft (civilian): Shipments©
do___
Airframe weight © thous. Ib
Exports
mil. $

57.2
1, 340
20.3

88.8
1,909
23.9

94.4
2,176
32.3

83.0
1,856
21.7

109.7
2,263
12.8

91.2
2,075
230.0

99.7
2,071
23.1

758.4
730.0
636.5
620.3
121.9
109.7

774.4
744.3
646.0
629.5
128.4
114.8

491.8
463. 7
411.5
394.7
80.3
69.0

794.1 1, 031. 4
748.8
995.1
679.2
884.3
648.4 862.4
114.9
147.0
100.3
132.6

936.7
910.7
798.1
782.8
138.6
127.9

906.0 1,124.6 1,017.7
991.4
873.2 1,091.0
957.5
861.0
774.8
937.9
846.9
753.1
167.1
156.7
131.2
153.1
144. 5
120.2

number
do
_do

22, 928 27,455
12, 851 14, 726
10,076 12,729

26, 938
13, 521
13,417

25, 130
14, 577
10, 553

36, 053 236,617
20, 732 234,478
15, 321 232,139

11, 570
7,929
3,641

24, 141
16, 179
7,962

16,593
10, 138
6,455

Imports (cars, trucks, buses), totalcf
do
Passenger cars (new and used)d*
.do
Shipments, truck trallers:A
Complete trailers and chassis
do
Vans,
...
_
do
Trailer bodies and chassis (detachable), sold
separately
number
Registrations:©
New passenger cars
__ .thous
Foreign cars
_
do
New commercial cars (trucks)..
....do

36, 534 44,413
35, 308 43,896

46, 831
46, 382

48, 374
47, 644

63, 985
63,427

24, 172
23, 622

44, 476
43, 971

57, 355
56,894

6,976
4,177

5,947
3,558

7,157
4,510

7,063
4,536

7,481
4,613

9,591
5,659

987

137.9
2.834
57.2

1,568

159. 6
3, 174
51.8

124. 6
2, 574
34.3

119. 1
2,472
23.0

145.2
130.8
2, 562 '2,866
24. 1
61.1

150.6
2,732
57.9

111.2
2,508

MOTOR VEHICLES
Factory sales, total
__
Domestic
Passenger cars, total
_
Domestic
Trucks and buses, total
Domestic .
Exports, totalf ...
...
Passenger cars (new and used)
Trucks and buses..

thous..
do
do
do
do
do

6,465
3,885

7,245
4,320

986.0 1,058.6
960.7 1, 034. 3
832.7
894. 1
819.3
880.9
153.3
164.5
141. 4
153.4

880.1
863.8
754.0
745.6
126.1
118. 2

444. 7
433.9
333.0
330.4
111. 7
103.5

13, 805
8,155
5,650

11,901
6,610
5,291

10,277
4,946
5,331

8, 035
2,150
5,885

13,065
7,721
5,344

66,010
65,120

42,216
41, 800

51, 779
51,351

46, 492
46, 200

19,322
19,162

47, 147
46,653

9,337
5,753

9,390
5,923

9,134
5,544

8,174
5,261

8,752 ' 8, 649
5, 627 ' 5, 533

8, 787
5,728

598.7 1, 016. 8
574. 2
974.3
459.7
862.2
445.2
831.8
139. 0
154.6
129.0
142.5

445

650

678

S67

403

305

245

422

642

1,156

1, 593

1,146

1,849

2,406

629.7
32.1
103.7

672.1
40.3
113.5

658.5
46.2
114.5

563. 5/ ' 756.8
39.9
39.4
97.8, 113.4

667.0
36.0
102.7

631.1
30.1
98.9

798.7
43.1
126.9

895.9
46.9
142.3

841.4
49.5
130.8

841. 5
49.3
135.2

833.6
52.0
136.4

766.7
54.3
129. 7

589.5
51.7
122.6

745.8
52.1
133. 1

3,747
number
_ _ d o 2,608
1,140
do

5,756
3, 780
1, 976

5,124
3,629
1,495

5, 820
4,260
1,560

6,490
4, 665
1,825

6,130
4,272
1,858

6,594
4,337
2, 257

6,152
4,348
1,804

6,166
4,040
2,126

5,873
3,976
1, 897

6,813
4,659
2,154

5, 784
3,739
2,045

5,034
3,583
1,451

6,345
4,429
1,916

7,112
4,883
2,229

5,089
3,665
1,423

5, 929
3,719
2,210

6,763
3, 387
3,376

6, 443
2,326
4,117

9,741
6,647
3,094

9,436
4,582
4,854

4,770
3,314
1,456

7,827
6,025
1,802

4,804
3,110
1,694

5,839
5,241
598

8,555
7, 971
584

6,330
5, 586
744

8,801
6,188
2,613

7,821
6,441
1,380

6.474
5,732
742

do
__do
do

22, 183
12, 645
9, 538

32,857
20, 025
12,833

30,452
20, 249
10, 203

29,824
17, 187
12, 637

33, 167
19, 190
13,977

36,465
19,500
16, 965

35, 006
18, 845
16, 161

36, 580
20, 517
16, 063

35. 225
19,589
15, 636

35,207
20,875
14,332

36, 744
23, 982
12, 762

37,293
25, 832
11, 461

40,832
28, 209
12, 623

42,373
30, 291
12, 082

41, 735
31, 140
10, 595

do
do

16
198

21
328

31
284

46
238

57
191

24
177

27
150

31
119

29
90

26
64

22
62

10
52

13
39

9
3.0

0
10

1,515
6.8

1,495
5.9

1,495
6.0

1,493
6.0

1,495
5.9

1,495
6.0

1,496
6.0

1,495
5.8

1,495
5.7

1, 495
5.7

1,492
5.7

1,491
5.8

1,489
5.8

1,488
5.8

1,487
5.7

1

1,069. 9
!913.2
1

156. 7

RAILROAD EQUIPMENT
Freight cars (ARCI):
Shipments..
Equipment manufacturers, total
Railroad shops, domestic
New orders..
.
Equipment manufacturers, total
Railroad shops, domestic
Unfilled orders, end of year or mo._...
Equipment manufacturers, total
Railroad shops, domestic
Passenger cars: Shipments....
Unfilled orders, end of mo
Freight cars, class 1 (A AR) :§
Number owned, end of year or mo
Held for repairs, % of total owned

do
do.
.do

thous..

3 See note
lSevl^f
'• ?reL f Hof pli°n«?ccionf m«o See not?, "8" tm p> s~21'
"*•"
t Monthly revisions for Jan. 1961-Sept 1963 are available upon request.
Q Total includes backlog for nonrelated products and services and basic research.
0 Data include military-type planes shipped to foreign governments.
1 Beginning Jan. 1965 , data exclude exports of incomplete (unassembled) vehicles.
(
?5lta^over STO!161? units* ?¥ssis' and bodies.
^Effective with the Apr. 1964 SURVEY, shipments have been substituted for production.
Shipments of trailer chassis only and dump trailer chassis, sold separately, are now included
with the complete trailers and chassis (except detachable). Data back to 1958 are available.
©Courtesy of R. L. Polk & Co.; republication prohibited.




^Excludes railroad-owned private refrigerator cars and private line cars,
NOTE FOR MANMADE FIBER FABRICS, P. S-39. ^Effective 1st qtr. 1964
data reflect revised fabric classifications. The difference between total production and the
sum of data for filament, spun, and mixed yarn fabrics shown separately (p. S-39) covers
upholstery, blanketing, silk, paper, and other specialty fabrics. The difference between the
total for 100% filament yarn and the components shown, covers all other filament yarn goods,
including glass fiber and polyester fiber fabrics. Data prior to 1964, comparable with the
detail shown are not available

SECTIONS
General:
Business Indicators
CoimTaodity prices——
Construction and real estate
Domestic trade
.

„„„, :,„—,
'. „
—
.

Employment and population--.
_,,
Finance...
—__„
Foreign trade of the United States.. L
Transportation and communications.
:

1-7
7,8
9,10
10-12
12-16
16-21
21-23
23,24

Industry;
Chemicals and allied products
Electric power and gas
Food and kindred products; tobacco
Leather and products...,,
Lumber and products
Metals and manufactures —.
Petroleum, coal, and products Pulp, paper, and paper products
Rubber and rubber products
Stone, clay, and glass products
Textile products .,.„—
Transportation equipment

—
—
'.
.

_. .

25
26
26-30
30,31

31
32-34
35,36
,36,37
...

37
38
38-40
40

INDIVIDUAL SERIES
Advertising—
,_„_.,„ 10,11,16
Aerospace vehicles
40
Agricultural loans
—
,
16
Air carrier operations
„
23
Aircraft and parts
!.
3,13-15,40
Alcohol, denatured and ethyl
,.
25
Alcoholic beverages— ,,
......L_ 8,10,26
Aluminum
,„
• .
23,33
AppareL,,.
1,3,4, 7,8,10-15,40
:wm
Asphalt and tar products..„
35,36
Automobiles, etc.— 1,3-6,8,10,11,13-15,19, 22,40
Balance of international payments
.
2
Banking
—„
16,17
Barley
.
.,__
,
27
Barrels and drums
„.
„.„
33
Battery shipments
—«_,..
34
Beef and veal
, «. ,. ,
28
Beverages™,.
,_„ 4,8,10,26
w
Blast furnaces, steel works, etc,, —_
13-15
Bonds, outstanding, issued, prices, sales,
yields
«
18-20
Brass and bronze,.
..• («^.
33
Brick,.
_
..3333333333
38
Broker's balances
,„
20
Building and construction materials. 8,10,31,36,38
Building costs
—„
9,10
Building permits
„
„„
.
9
Business incorporations (new), failures „,
7
Business sales and inventories
,—
4,5
Butter
.
..„_
27
:
Cans (tinplate),,.—<
,„ ,.
;
33
Carloadings
;
24
Cattle and calves
,. ,_, ,_;
28
Cement and concrete products
8-10,38
Cereal and bakery products.
8
:
Chain-store sates, firms with 4 or more and 11
or more stores
,,
. ; L *
• -12
Cheese
:.._..
„_. '• 27
Chemicals
,
. 4-6,8,13-15,19, 22,25
Cigarettes and cigars
.
8, 30
Civilian employees, Federal, ,_,__,
„
14
Clay products
;
.
,
8,38
Coal
*....
4, 8,13-15, 22, 24,35
Cocoa.
-..,
.—,
„
23, 29
Coffee
,.„_
23, 29
Coke,..—
—
,
,
.24, 35
Communications
—
2,13-15,20, 24
Confectionery, sales
„
„
,
.
29
Construction;
Contracts., •..
.....
,
.'
g
Costs—
<
„
,,
, ,
. 9,10
Employment, hours, earnings, wages
13-16
Fixed investment, structures-,
1
Highways and roads— ,
* 9,10
Housing starts—
, „
„
9
New construction put in place,
„
„
9
Consumer credit,
~
;.
17,18
Consumer expenditures
.
1
Consumer goods output, index ,
,
3,4
Consumer price index,—..,
,„
„
7
Copper
..
..
,_ 23,33
Corn
',
'.
,
.
,
27
Cost of living (see Consumer price index)
7
Cotton, raw and manufactures
._ 7r 8,22,38,39
Cottonseed cake and meal and oil .
30
Credit, short - and intermediate»tenn
17,18
Crops——
3, 7,27, 28,30,38
;OT
Crude oil and natural gas——
4,13-15,35
Currency in circulation „ „
>.,
^
„
19
Dairy products ,_——
3, 7, 27
Debits, bank
,
—
,. • 16
Debt, U.S. Government
„,
:
18
Department stores
„•„.
11,12,17
Deposits, bank
,m
...
16,17,19
Disputes^ industrial
_—,
„__
16
Distilled spirits
,
26
; __
Dividend payments, rates, and yields,
2,3,18-21
Drug stores, sales,,—
*....„
11,12




Earnings, weekly and hourly
14-16
Eating and drinking places
,
11,12
Eggs and poultry
,..•
3,7, 29
Electric power
„ 4,8,26
Electrical machinery and equipment
3,
5,6,13-15,19,22,34
Employment estimates
12-14
Employment Service activities, ,„„
16 Expenditures, U.S. Government
18
Explosives
, ,_
'
25
Exports (see also individual commodities)
1,
21-23
Express operations
^
23
Failures, industrial and commercial,
,
7
Fans and blowers
,„
34
Farm income, marketings, and prices, - — 2,3, 7
Farm wages
,
16
Fats and oils
„.
.. 8,22,29,30
Federal Government
finance
>
18
Federal Reserve banks, condition of,
16
Federal Reserve member banks
17
Fertilizers
8,25
Fire losses,
,
;
„
,
*
10
Fish oils and fish ,._
±
,
29
Flooring, hardwood
_.
31
Flour, wheat,, .—, —_——_.,—,
,..
28
Food products, 1,4-8,10,11,13rl5,19,22,23,27-30
Foreclosures, real estate—
-.
.
10
Foreign trade (see also individual commod.) „ 21-23
Foundry equipment
34
Freight carloadings—
,_—.__..,—
24
Freight cars (equipment),,;
—
4,40
Fruits and vegetables
;
7,8,22
Fuel oil.
„
. ,__ __ 35,36
;
Fuels
— 4,8,35,36
Furnaces
,
,
«
34
:
Furniture
3,4,8,11-15,17
Fttfi^.....
,
^
.
23
Gas, output, prices, sales,re venues
4,8,26
Gasoline
,_
1,35,36
Glass and products
38
Glycerin.,—,
,
..... . 25
- Gold
19
Grains and products
,_•;. 7,8,22,24,27,28
Grocery stores, ,.w
,
.
_„ 11,12
Gross national product
_
l
Gross private domestic investment
1
Gypsum and products8,38
Hardware stores
, „
,
11
:
Heating equipment
.
8,34
Hides and skins
,
.„ 8,30
Highways and roads ,j
9,10
Hogs
—
!.,
28
M
Home Loan banks, outstanding advances,
10
Home mortgages—
^»;
,
10
Hosiery.
—
„
,
40
Hotels .--— 14,15,24
Hours of work per week
.
,
14
Housefurnishings
1,4,7,8,10-12
Household appliances and radios,.,
4, S. 11,34
Housing starts and permits-..:
^
9
Imports (see also individual commodities).,, 1, 2 2,23
Income, personal
«...
2, 3
I ncome and employment tax receipts
18
Industrial production indexes:
By industry
,
^
•
,
3,4
:
By market grouping
»
L.
„
3,4
Installment credit—
^
12,17,18
Installment sales, department stores
...
12
Instruments and related products
^
3,13-riS
Insulating materials,,
'„;
.
34
Insurance, life
.
. , .
^,,
^
18,19
Interest and money rates
,
17
Inventories, manufacturers* and trade
4-6,11,12
Inventory-sales ratios
...
5
Iron and steel-_ 3, 5,6* 8,10,13-15,19, 22, 23,32,33
Labor advertising fndex, disputes, turnover,—
16
Labor force
,
,„
12
:
Lamb and mutton
;
28
•Lard
28 Lead,
,
,
•
33
Leather and products.—
3,8,13-15,30,31
Life insurance
;
18,19
Linseed oil
.
,
30
ki
Livestock
3, 7,8, 24, 28
Loans, real estate, agricultural, bank, brokers*
(see also Consumer credit)
10,16,17, 20
Lubricants, .^
,
35,36
Lumber and products.
»
3,8,10-15,19, 31
Machine tools.,,
,
,
34
Machinery.,,.
'.. 3,5,6,8,13-15,19,22,34
Mail order houses, sales.
:
,
n
Manmadefibersand manufactures ,
8,39
Manufacturers* sales (or shipments), inventories, orders-—.
4-6'
Manufacturing employment, production workers, payrolls, hours, earnings
_„
13-15
Manufacturing production indexes
„„ 3,4
Margarine-.
_
29
Meat animals and meats
:
3,7,8,22,28
Medical and personal care
„
7
Metals.^ . ^
3-6,8,13-15,19,22,23,32-34
Milk
,
27
Mining and minerals
2-4,8,13-15,19, 20
Monetary statistics,,,
«__^
19
Money supply,
,..
19
Mortgage applications, loans, rates.__,
10,16,17
Motor carriers
„.«.
.
23,24
Motor vehicles..— 1,3-6,8,10,11,13-15,19,22,40
Motors and generators
,
34

National defense expenditures ;„ ^^
i, is
National income and product...
.-._„—.
1, 2
National parks, visits— „
„
24
Newsprint—
,
__,
23,37
New York Stock Exchange, selected data „ , 20, 21
Nonferrous metals—
«
3,8,19,23,33,34
Noninstailment credit
.,
; ;__.
17,18
Oattu
„—
,
__ • 27'
Oil burners,—
.,.„..—„_„
34
Oils and fats
,_,
8,22,29,30
Orders, new and unfilled, manufacturers^,,
6
Ordnance
-« —.^
:_—„; ,
!. 13-15
Paint and paint materials
„„+.
8,25
Panama Canal traffic.
^..,
,M
24
Paper and products and pulp ..
,
3,
^ ..
5,6,8,13-15,19,23,36,37
Parity ratio,, *.»-««..
.„,
„„• w
7
Passports issued ,
,
,^ „
24
Payrolls, indexes
.,
14
Persona! consumption expenditures.
^
1
Personal income
«
,
,
• 2,3
b
Personal outlays
—
, »«.^«, _,
2
Petroleum and products
...
.^JI2 4-6,
8,11,13-15,19,22,23,35,36
w .
Pig iron
„ :
„,,_._ ' 32
;
Plant and equipment expenditures
—„,— 2,20
Plastics and resin materials
, ,
"mi
25
Population
•,
:
.
•' .
12

Pork,...—,__—.—--:::_:::: 23

Postalsavings
17
Poultry and eggs_ .„ .
3, 7,29
IVices (see also individual commodities)!!!,
7,8
Printing and publishing
,
4,13-15
Profits, corporate,..
,„—„,,,— 2,19
Public utilities..
—,. 2-4, 7-9,13-15,18-21
Pullman Company ^_
'. _„—
24
Pulp and pulpwood. .
:.,
36
Purchasing power of the dollar,—..„.;
8

Radiators and con vectors„
34
Radio and television f.
4,8,10,11, 34
Railroads
!.. 2,13,14,16,18,20, 21, 24, 40
Railways (local) and bus lines,.
13-15,23
Rayon and acetate,—
39
Real estate _
,_
.—..^
10,17, jg
Receipts, U.S. Government—
.,
18
Recreation, „„.,„-.„„..... ...... «..^«...... «,_
7
Refrigerators and home freezers
"I -I-I
34
Rent (housing)
*..*.,
^_... .,
7
Retail trade. .
^
...
4,5,7,11-15,17,18
Rice.^
,
——.^
. 27
Roofing and siding, asphalt
:.
36
Rubber and products(incl. plastics)-4-6,
8,13-15, 23,37
Saving, personal.,,„„,...
^^
2
Savings deposits.. 1-.*.
;
17
Securities issued... . _.,
19, 20
Security markets ——
.„
20 21
Services-.—
—„_—,.1111337,13-15
Sheep and lambs
„.„„
_„_
„
28
Shoes and other footwear
8,11,12,31
Silver
, ,
:_ '. ......
~,—
19
Soybean cake and meal and oil. »„,
33
30
Spindle activity, cotton
;
39
Steel ingots and steel manufactures
13 32,33
Steel scrap
,
; •
.
32- •
Stock prices, earnings, sales, etc
,
20, 21
Stone, clay, glass products —-. 3-5,8,13-15,19,38
Stoves and ranges
,„
„_.
, 34
Sugar
—,..,
.
23,29
Sulfur
,
._,: : ;,
;
• 25
Sulfuric acid.
,
•
25
to^
Superphosphate...
.., ,„».,
25
:Tea imports
», 29
Telephone, telegraph, cable, and radiotelegraph carriers,.,
«
._ 13-15, 24
Television and radio
„
,_ 4, 8,10,11,34
Textiles and products— 3,5,6,8,13-15,19, 22, 38-40
Tin.—
.
.
,
-23,33
Tires and inner tubes
:
— 8,11,12, 37
Tobacco and manufactures
4-8,10,13-15,22,30
Tractors
,—
»——
;
22,34
Trade (retail and wholesale)
4,5,11,12
Transit lines, local..,,—.
23
Transportation
,..,
1, 2, 7,13-15, 23, 24
Transportation equipment
3-6,13-15,19, 40
Travel
_
...
23, 24
Truck trailers
,
40
Trucks (industrial and other)
., 34,40
Unemployment and insurance—,•
,
12,16
UJS. Government bonds,,,
... _„ 16-18,20
U.S. Government
finance
„
18
Utilities
2-4,9,13-15,18-21, 26
•Vacuum cleaners
,
,
Variety stores.
Vegetable oils—-.—
.
.
Vegetables and fruits
„
.
Vessels cleared in foreign trade—
Veterans'benefits

,.*

34
11,12
30
7,8,22
„
24
,„_ 16,18
,.^

Wages and salaries
*..'..
2,3,14-16
Washers and driers ^, „.
,.
34
Water heaters
,
34
Waterway traffic
24
Wheat and wheat
fiour,,,.
.
,„
28
Wholesale price indexes
,
8
Wholesale trade
„
4,5,7,13-15
Wood pulp...,*—:
,„—
36
Wool and wool manufactures
„
™ 7,8, 23,39
Zinc.

33,34

POSTAGE AND FEES PAID
II. S. GOVERNMENT PRINTING OFFICE

UNITED S T A T l ,
FOMENT PRINTING

First-Class Mail

Volume 45

Survey of Current Business

Number 12

1965 Index of Special Articles and Features
SPECIAL ARTICLES
No.

National Income and Product in 1 9 6 4 . . . . . . . . . . .
The Balance of Payments.
...
Employment—Prices—Finance
Tbe Federal Budget for Fiscal 1966
Excise and Sales Taxes. . . .'.-. . . .
Business Investment and Sales Programs for 1965.
The U.S. Balance of Payments in 1964
The Relationship Between New Orders and Shipments: An Analysis of the Machinery and
Equipment Industries
Personal Income by States, for 1964
.
Disposable Personal Income by States in Current and Constant Prices.. . . .
Recent Money Market and Credit Developments.
Construction Activity in the 1958 Input-Output
Study
.
,
The Balance of Payments in the First Quarter
of 1965.....
Foreign Travel Payments Hit New High in 1964.
Personal Income by States and Regions in 1964.

Page

1
1
1
2
2
3
3

4
16
19
8
13
5
10

3
4

24
13

4
5

16
7

5

13

6
6
7

10
24
7

The National Income and Product Accounts of the
United States: Revised Estimates, 1929-64. .
Index to Revised National Income and Product
Tables
The Balance of International Payments—Second
Quarter of 1965
Foreign Investments, 1964-65. . . . 1
The Transactions Table of the 1958 Input-Output Study and Revised Direct and Total
Requirements Data. . . .
..
Personal Consumption Expenditures in the
Input-Output Study
The Stock of Automobiles in the United States
Its Size and Value in the Postwar Period.....
Recent Financial Developments.
Financing and Sales of Foreign Affiliates of U.S.
Firms.
U.S. Exports to Foreign Affiliates of U.S. Firms.
The Balance of International Payments During
the Third Quarter

No.

Page

8

6

8

23

9
9

11
22

9

33

10

7

10
11

21
9

11
12

14
12

12

17

No.

Page

9

3

9
10
10
10
11
11

7
1
4
5
3
5

12
12

5
6

12

10

FEATURES
Durable Goods New Orders and Backlogs
Changes in Personal Income. . .
Recent Shifts in the Auto Market
Manufacturers' Sales and Inventory Expectations—First Half 1965..
First Quarter 1965 G N P . . .. .
Economic Activity in March
.
An Evaluation of Manufacturers' Current Capacity.. . .
....."
'.'..;,.
The Farm Situation in 1964. . . .
•-.>"••.••
Recent Housing Activity.
.', .
Capital Expenditures to Rise Throughout 1965. .
Manufacturers' Inventory and Sales Expectations—Second and Third Quarters of 1965.-... .
Second Quarter Gross National Product. .......




No.

Page

2
2
2

1
3
5

3
4
4

3
1
3

4
4
5
6

7
10
2
3

6
1

7
5

Plant and Equipment Programs—Second Half of
1965..... .
Manufacturers Expect Higher Sales and Inventories in the Second Half of 1965
Third Quarter GNP
Changes in the Labor Market
Development in the Auto Market.
Inventory Developments
Price Changes in 1965
Unfilled Orders for Durable Goods Rising Faster
Than Sales
Acceleration in Business Investment Programs. .
Manufacturers' Inventory and Sales Expectations for Early 1966
•.'....

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