Full text of Survey of Current Business : December 1982
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DECEMBER 1982 / VOLUME 62 NUMBER 12 SURVEY OF CURRENT BUSINESS CONTENTS THE BUSINESS SITUATION 1 Summary of BEA Working Paper 10 National Income and Product Accounts Tables H Reconciliation and Other Special Tables 22 Inventory Investment and Economic Instability 23 U.S. Department of Commerce Malcolm Baldrige / Secretary Robert G. Dederick / Under Secretary for Economic Affairs Bureau of Economic Analysis Plant and Equipment Expenditures, Quarters of 1982 and First and Second Quarters of 1983 32 U.S. International Transactions, Third Quarter 1982 38 Subject Guide Volume 62 (1982) 62 George Jaszi / Director Allan H. Young / Deputy Director Carol S. Carson / Editor-in-Chief, Survey of Current Business Manuscript Editors Dannelet A. Grosvenor Managing Editor: Patti A. Trujillo Staff Contributors to This Issue: Leo M. Bernstein, Frank de Leeuw, Anthony J. DiLulIo, Douglas R. Fox, Bruce T. Grimm, Eric R. Johnson, J. Steven Landefeld, Daniel J. Larking, Eugene P. Seskin, John T. Woodward CURRENT BUSINESS STATISTICS General SI Industry S19 Footnotes $33 Subject Index (Inside Back Cover) SURVEY OF CURRENT BUSINESS. Published monthly by the Bureau of Economic Analysis of the U.S. Department of Commerce, Editorial correspondence should be addressed to the Editor-in-Chief, Survey of Current Business, Bureau of Economic Analysis, U.S. Department of Commerce, Washington, D.C. 20230. Annual subscription: second-class mail—$30.00 domestic; $37.50 foreign. Single copy: $4.75 domestic; $5.95 foreign. First-class mail rates and foreign air mail rates available upon request. Mail subscription orders and address changes to the Superintendent of Documents, U.S. Government Printing Office, Washington, D.C. 20402. Make checks payable to Superintendent of Documents. Second-class postage paid at Washington, D.C. and at additional mailing offices. 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Rm: 706 442-5616 €T, Hartford 06103 450 Main St. 244-3530 MA, Boston 02116 44J Stuart St. 223-2312 NM, Albuquerque 87102 505 Marquette Ave., N,W. 766-2386 PA, Pittsburgh 15222 1000 Liberty Ave. 644-2850 Wl, Milwaukee 53202 517 E, VWottein A\e. 291-3473 Ft, Miami 331 HO 25 W. Flagler St. 350-5267 MIK Baltimore 21202 415 t.S. Customhouse 962-3560 NV. Reno 89503 777 W. 2nd Si. 784-5203 PR, San Juan 00918 Rm; 659, Federal Bldg. 753-4555 WV, Charleston 25301 500 Ouarrier St. 343-6181 GA, Atlanta 30309 1365 Prat-litre St.. N..E. 881-7000 Ml, Detroit 48226 231 W. Lafayette 226-3650 NY. Buffalo 14202 111 W. Huron St. 846-4191 SC Columbia 29201 1835 Assembly St. 765-5345 WV, Cheyenne 82001 2120 Capitol Ave. 772-2151 1 47 Jefferson Ave. 521-3213 the BUSINESS SITUATION THE fourth quarter of 1982 was the fifth consecutive quarter of poor economic performance. Nearly complete information indicates that motor vehicle production was down sharply (table 1). Less complete information suggests that other production in total remained flat.1 • Real personal consumption expenditures (PCE) increased about 2% percent at an annual rate. In goods, the increase was more than accounted for by motor vehicles; as discussed in the following section on "Motor Vehicles/' sales were boosted by manufacturers' interest rate subsidies. All other categories of goods except food were flat or down, continuing their lackluster performance. Services registered only a small increase. An increase in * 'other services" was largely due to commissions of security and commodity brokers; a decline in gas and electric services reflected unusually mild weather. • Although information on fixed investment other than residential construction is sketchy, it is clear that fixed investment registered another substantial drop. In producers' durable equipment, most major categories again declined—the nonvehicle cate1. The major source data that shed light on fourthquarter GNP are limited to 1 or 2 months of the quarter, and in some cases are preliminary. These data are: For personal consumption expenditures (PCE), October and November retail sales, unit sales of new autos through the first 10 days of December, and sales of new trucks for October and November; for nonresidential fixed investment, the same data for autos and trucks as for PCE, October construction put in place, October manufacturers' shipments of equipment, and business investment plans for the quarter; for residential investment, October construction put in place, and October and November housing starts; for change in business inventories, October book values for manufacturing and trade, and unit auto inventories for October and November; for net exports of goods and services, October merchandise trade; for government purchases of goods and services, Federal unified budget outlays for October, State and local construction put in place for October, and State and local employment for October and November; and for GNP prices, the Consumer Price Index for October and the Producer Price Index for October and November. gories for the fourth consecutive quarter. Nonresidential structures continued flat. An increase in office buildings offset declines in several other categories, including oil well drilling. The article on the quarterly BEA plant and equipment survey, which appears later in this issue, puts the fourth-quarter decline in capital spending into the context of past developments and plans for 1983. • Residential investment was up moderately. As described in the following section on "Housing and Mortgage Markets," declining interest rates have spurred activity: mortgage commitments, sales, and housing starts, as well as construction put in place. • Little information is yet available about the other components of final sales—net exports and government purchases. It appears that although exports and imports both were down, exports were down more. Weakness in net exports continued to reflect depressed economic conditions abroad and appreciation of the dollar. The major factor in government purchases was a step-up in the price-support operations of the Commodity Credit Corporation, as farmers responded to low market prices for crops by putting substantial amounts—mainly of soybeans, corn, and cotton—under loan. • For the change in business inventories, reasonably complete information is available only for motor vehicles. Motor vehicle inventories were run down sharply in the fourth quarter; the swing from moderate accumulation in the third quarter to liquidation in the fourth made a negative contribution to the change in GNP. If it is assumed that other inventories contributed little to the change, inventories in total more than accounted for the decline in real GNP. Prices and wages With the fourth-quarter increase in the GNP fixed-weighted price index at about a 5-percent annual rate, the quarterly increases for the year were all in the range of 4 to 6 percent, down substantially from 8% to 10 percent in 1981. The Federal pay raise, which is reflected in the prices of employee services purchased by the Federal Government, accounted for 0.4 percentage points of the fourth-quarter increase. Prices of PCE were up about 1 point more than the average of GNP prices, but less than in the Table 1.—Motor Vehicle Output [Billions of 1972 dollars; seasonally adjusted annal rates] Change from preceding quarter 1982 1981: III 1981: IV Output Autos Trucks 58.2 45.6 12.6 -10.9 -11.2 .3 Final Sales Autos Trucks 56.7 43.7 13.0 -9.7 -8.5 -1.2 Change in business inventories Autos Trucks . 1.3 1.8 -.5 -1.1 -2.6 1.5 II I -2.1 -3.1 1.0 6.4 3.1 3.3 -8.4 -6.2 -2.2 1982: IV* IV* III 10.1 8.4 1.7 -2.4 -1.3 -1.1 12.5 9.7 2.8 1.0 2.6 -1.6 -1.2 .4 -1.6 2.0 2.1 -.1 -8.0 -5.0 -3.0 5.8 5.6 .2 -13.6 -10.5 -3.1 48.3 37.3 11.0 55.6 43.0 12.6 -7.3 -5.7 -1.6 'Projected. Based on unit production in October and November and scheduled production for December, unit sales of autos through the first 10 days of December and of trucks for October and November, and unit inventories for October and November. NOTE.—For estimates through 1982:111, see tables 1.14-1.15 and 1.16-1.17 of the National Income and Product Accounts Tables. Auto output includes dealers' margins on their used car transactions; truck output includes new trucks only. SURVEY OF CURRENT BUSINESS third quarter. PCE energy prices increased about one-half as much as the 18% percent registered in the third quarter. The major factor in the smaller increase in energy prices was gasoline, where cash discount programs held down prices. PCE food prices increased at about the same rate as in the third quarter—2 percent. For fixed investment, prices were up several points less than the average of GNP prices. Prices of nonresidential structures and of producers' durable equipment increased less than in the third quarter, and prices of residential investment declined after a little change. Prices of GNP less food and energy—an indicator of the underlying rate of inflation—also increased about 5 percent at an annual rate. The range of quarterly increases in 1982 was 5 to 6 percent, down from 8% to 9% percent in 1981. Deceleration is also visible in wage rate increases, which moderated further in the second half of 1982. The Index of Hourly Earnings increased about 3% percent at an annual rate in the fourth quarter and 6 percent in the third, compared with increases of 6 ^-percent in the first half of the year and of 7% to 8% percent in the latter half of 1981 (table 2). A slow- down in compensation—which, in addition to straight-time wages and salaries, includes employer costs of supplementary benefits such as vacation and sick leave, health insurance, and social security—paralleled that in wages. The Employment Cost Index for private industry workers decelerated from year-over-year increases of 9 to 10 percent in the latter half of 1981 to a 7-percent increase in September 1982 (table 3). Recent major collective bargaining settlements—those covering units with at least 1,000 workers—suggest that it is likely that the lower rates of increase will persist. Settlements in the second half of 1982 provided for moderate wage increases in 1983. Many of these settlements involve multi-year contracts, and they often set standards for wage rates in the same or related industries. Wage-rate adjustments to existing contracts were down again in the second half of 1982 due to negotiated deferrals or cancellations of scheduled increases in troubled industries or firms and due to decreases in cost-of-living adjustments (COLA's). (Over one-half of workers covered by major contracts have cost-of-living protection.) The Consumer Price Index (CPI), which is the basis for most COLA's, increased Table 2.—Hourly Earnings Index: Change From Preceding Quarter [Percent change at annual rates; based on index numbers (1977 = 100), seasonally adjusted] 1982 1981 III Private nonfarm economy Mining 1 Construction Manufacturing Transportation and public utilities Wholesale and retail trade Finance insurance, and real estate Services . . . ... II I IV Nov. III 8.5 7.3 6.5 6.4 6.2 3.7 10.6 8.9 8.7 6.4 8.0 9.1 9.3 7.2 8.8 7.7 7.7 4.2 7.6 9.3 9.0 9.1 8.7 7.4 4.4 4.0 5.1 4.1 2.3 6.6 6.0 6.4 9.5 8.5 11.6 3.5 6.3 4.3 4.5 9.6 8.4 2.0 2.1 3.2 4.1 4.4 7.2 3.9 1. Computed from data that are not seasonally adjusted. Source: Bureau of Labor Statistics. Table 3.—Employment Cost Index: Change From 1 Year Earlier [Percent; based on index numbers (June 1981 = 100), not seasonally adjusted] 1982 19 81 Sept. Dec. Mar. June Sept. Civilian nonfarm workers * n.a. n.a. n.a. 7.5 7.3 Private industry workers 100 88 78 72 72 102 9.8 87 9.0 82 76 72 71 71 72 n.a. n.a. n.a. 93 85 Manufacturing Nonmanufacturing State and local government workers n.a. Not available. 1. Excludes private household and Federal Government workers. NOTE.—The index measures change in total compensation costs (wages, salaries, and employer costs for employee benefits). Source: Bureau of Labor Statistics. December 1982 5 percent from October 1981 to October 1982, compared with 10 percent and 12% percent the 2 previous years. In some cases, increases in the CPI were not large enough to trigger any adjustments; in others, the adjustments were reduced. In addition, COLA reviews that had been scheduled were eliminated by terms agreed to under several contract reopenings. Personal income Personal income was up $30 billion in the fourth quarter (table 4).2 The composition of the increase bears the imprint of several significant developments in the economy—in employment, hours, and unemployment; in farm prices; and in interest rates. Wage and salary disbursements were essentially flat. In manufacturing, wages were down sharply, largely due to declines in employment and average weekly hours in durable goods manufacturing. Wages in other commodity-producing industries and in distributive industries were down as well. In services and in government and government enterprises, they were up. In services, however, the increase was less than in the third quarter; the increase in government included $2% billion for a Federal pay raise. In proprietors' income, the farm component registered an increase that was more than accounted for by subsidies. The increase in subsidies, in the form of deficiency and diversion payments by the Commodity Credit Corporation, amounted to $8% billion; initially these payments were to be made on a schedule that extended into the first quarter of 1983. Receipts for marketings of both crops and livestock were down; prices paid to farmers dropped sharply, and for crops more than offset the effect of a sharp increase in volume. Personal interest income increased only $1 billion, down from increases of $6 to $12% billion earlier in the year. In 1981, increases had been even larger and interest had been the fastest growing component of personal income. The deceleration was due to the drop in interest rates on assets held by persons. 2. Quarterly estimates in the national income and product accounts are expressed at seasonally adjusted annual rates, and quarterly changes in them are differences between these rates. SURVEY OF CURRENT BUSINESS December 1982 Transfer payments again increased by an unusally large amount—$16 billion. The fourth quarter included a sharp step-up in unemployment insurance benefits and smaller cost-ofliving adjustments than in the third quarter. Disposable personal income increased $25 billion, or 4% percent at an annual rate, down from an increase of $46% billion, or 9 percent, in the third quarter. (In real terms, disposable income was down, after a 1% percent increase in the third quarter.) The smaller increase in disposable income in the fourth quarter reflected not only the smaller increase in personal income, but also the fact that Table 4.—Personal Income and Its Disposition: Change From Preceding Quarter [Billions of dollars; based on seasonally adjusted annual rates] 19 82 II I Wage and salary disbursements 10.4 IV* III 150 134 12 .2 31 67 -1.2 40 81 -1.6 30 102 -8.4 _9 -1 5 66 4.1 3.5 3.5 5.4 -7.7 .9 1.0 8.3 67 -1.0 5 1.4 7 1.8 58 2.5 Personal interest income 8.8 12.3 6.2 13 Transfer payments 3.8 10.7 15.8 15.9 Other income 4.2 40 Manufacturing Other commodityproducing Distributive .. Services Government and government enterprises Proprietors' income Farm Nonfarm Less: Personal contributions for social insurance -3.6 .5 -1.9 45 33 3.6 .7 1.1 -.1 15.9 421 398 30 2 .2 77 -67 50 -10.3 10.6 -4.8 125 -18.5 129 -3.1 81 Equals: Disposable personal income 15.7 34.4 46.6 25.2 Less: Personal outlays 351 292 389 392 Equals: Personal saving 19.4 5.2 7.6 Personal income . Less: Personal tax and nontax payments Impact of legislation Other -14.1 Addenda: Special factors in personal income— Cost-of-living increases in Federal transfer payments Social security base and rate changes (in personal contributions for social insurance) Subsidies to farmers ... Federal pay raise 'Projected. .4 24 120 12 3.2 -.1 3 -1.1 -1.1 8.5 27 personal taxes increased after a decline. A $5 billion fourth-quarter increase in taxes was the net of a $3 billion decline in Federal taxes—the further effects of the Economic Recovery Tax Act of 1981—and an $8 billion increase due to an increase in the tax base. With a larger increase in spending than in disposable personal income, personal saving declined, and the saving rate moved down from the high levels of recent quarters. ber but were above the third-quarter level. At the beginning of the fourth quarter, domestic automakers faced a large inventory overhang due to an excessive carryover of 1982 models. Fourth-quarter production of new models was reduced sharply to 4.7 million units (seasonally adjusted annual rate) from 6.1 million in the third quarter. Total domestic car inventories declined from 1,418,000 (sea- Motor vehicles Motor vehicle output dropped $8 billion (1972 dollars) in the fourth quarter, after increasing $% billion in the third (see table 1). Auto output dropped following an increase, and truck output registered another substantial decline. Auto sales to domestic purchasers were up, largely due to interest rate subsidies on carried-over 1982 models. Truck sales were about the same as in the third quarter. Motor vehicle inventories declined sharply as stocks of 1982 model cars and trucks were liquidated. Total new car sales increased to about 8.6 million (seasonally adjusted annual rate)—their highest level in more than a year—from 7.8 million in the third quarter (chart 1). Sales of both domestic and imported cars increased. Imported car sales were up from 2.2 to about 2.5 million, as sales of both Japanese and West German cars increased sharply. Sales of several Japanese makes were boosted by various dealer incentive programs. The share of total sales accounted for by imported cars matched the 28% percent registered in the third quarter. Domestic car sales moved up to about 6.2 million from 5.5 million in the third quarter. Sales of all size categories were up: The largest increases were in intermediate and compact cars. Sales were especially strong in November when the major automakers, through their financial subsidiaries, subsidized auto installment loan rates at less than 11 percent. For the most part, these subsidies applied to 1982 models, although some 1983 models were included. The subsidy programs continued through December, but their impact on sales lessened as stocks of 1982 models dwindled. Sales in the first 10-day period in December were down from Novem- CHART 1 I I I I I I ! I I I I I I I I I I I DOMESTIC LARGE CARS Full-Size i i I i i i I i i i 1i i i I i i i DOMESTIC SMALL CARS AND IMPORTS 3 ~ •I ^ 0I l I i I I i I I i I i I i I I I i i I 1978 1979 1980 1981 1982 Seasonally Adjusted at Annual Rates Note.—The components may not add to the total because each category was separately adjusted for seasonal variation. Data for the most recent quarter are projected. Data: Motor Vehicle Manufacturers Association of the United States, Inc. and Ward's Automotive Reports. U.S. Department of Commerce, Bureau of Economic Analysis 82-12-1 SURVEY OF CURRENT BUSINESS sonally adjusted) at the end of the third quarter to about 1,220,000 at the end of November. The inventory-sales ratio fell from 3.2 in the third quarter to 2.1 in November, a level close to that considered desirable by the industry. As a result of the restoration of the inventory-sales balance, a pickup in production has been scheduled for the first quarter of 1983. Total new truck sales changed little from the 2.5 million units (seasonally adjusted annual rate) registered in the third quarter. Sales of domestic light trucks (up to 10,000 pounds) remained at 1.9 million, and domestic "other" truck (over 10,000 pounds) sales slumped further to a record low of 0.16 million. Interest rate subsidies on light trucks and vans boosted sales sharply in November from a very low level in October. As was the case for autos, the subsidies were designed to clear out an excessive carryover of 1982 models. Production again was cut back sharply in the fourth quarter. Sales of imported trucks were up substantially, to the highest level in nearly 3 years. Housing and mortgage markets Real residential investment was up in the fourth quarter, with both single- and multifamily construction sharing in the increase. The "other" component of residential investment—which includes additions and alterations, brokers' commissions on the sale of new and used residences, and mobile home sales—also increased. To October-November, both single and multifamily housing starts increased almost 50 percent from a trough a year ago (chart 2). Threefourths of the increase in multifamily starts occurred in the third quarter under the impetus of government programs. More than one-half of the increase in singles occurred in OctoberNovember, in response to declining interest rates and improved home sales. The prime rate—to which many construction loans are tied—fell sharply during the third quarter and continued down in the fourth (chart 3). Sales of new one-family houses turned up in August, jumped in September, and maintained the higher level in October. At October's sales December 1982 •I CHART 2 Housing Starts Millions of Units 2.5 1.0 - 1978 1979 1980 1981 1982 Seasonally Adjusted at Annual Rates Data: Census U.S. Department of Commerce, Bureau of Economic Analysis CHART 3 Selected Interest Rates Percent 221 Prime Rate 20 18 16 14 12 10 i i i I ri i i t I i i I t i I i t \ \ i I i t l i t I i t i l l It 1978 1979 * Ceiling rate at savings and loan associations. U.S. Department of Commerce, Bureau of Economic Analysis 1980 i 1981 1982 December 1982 SURVEY OF CURRENT BUSINESS pace of 487,000 (annual rate), the in- deposit gains are difficult to estimate. ventory of unsold new houses fell to It seems likely, however, that the cost 6.1 months' supply, its lowest level in of deposits will rise, as funds are 2 years. Sales of existing single-family shifted from passbook accounts (with homes turned up in September and a 5% percent interest rate ceiling) to jumped 80,000 to 1,920,000 (annual the new accounts. rate) in October. Declining mortgage interest rates were an important Third-Quarter Corporate factor in spurring sales. The commitProfits ment rate on 30-year mortgages with 80 percent loan-to-price ratios dropped from 16.93 percent in early Corporate profits from current production—profits with inventory valuaJuly to 13.66 percent in early Decemtion and capital consumption adjustber. ments—increased $11 billion to $166 A drop in short-term interest rates billion in the third quarter, following has reduced the cost of deposits for a decrease of $1% billion in the savings and loan associations (S&L's), second. (This third-quarter estimate is which account for about 40 percent of mortgage commitments. Net worth of the same as the preliminary one pubS&L's, an indicator of operating prof- lished a month ago; an upward revision in profits of domestic nonfinanits, continued to decline in September cial corporations was offset by downand October, but the declines ($0.01 billion and $0.07 billion, respectively) ward revisions in domestic financial were much smaller than in earlier and rest-of-the-world profits.) The third-quarter increase was in profits months. Moreover, mortgage activity at S&L's has been rising. In both Sep- of domestic corporations; profits from tember and October, more than $6 bil- the rest of the world decreased. Domestic profits of nonfinancial lion in mortgage commitments were corporations increased $10% billion to made, and outstanding mortgage com$125% billion in the third quarter, folmitments rose to $18 billion by the lowing a decrease of $5% billion in the end of October. New and outstanding commitments had not reached these second. The increase resulted from both an increase in real product of levels since the spring of 1981. nonfinancial corporations and a more Not all of the news from S&L's was rapid increase in unit prices than in good, however. All Savers Certificates unit costs (chart 4). The growth rate fell from $22.9 billion in September to of per-unit labor and nonlabor costs $9.9 billion in October. Although most decreased in the third quarter, while of this drop was offset by increased the growth rate of unit prices inbalances in other accounts, withdraw- creased. als nevertheless exceeded new deposThe third-quarter increase in the its (exclusive of interest credited) by domestic profits of nonfinancial corpo$3.5 billion. In addition, the percent- rations was largely due to a sharp inage of S&L mortgages that were de- crease in the profits of petroleum linquent 60 days or more continued to manufacturing corporations. Refiners' climb, reaching 2.16 percent in Octo- margins increased as wholesale prices ber. for petroleum products increased Effective December 14, S&L's (and sharply while their costs for crude oil other depository institutions) were increased only slightly. Increases and permitted to offer savings accounts decreases in the profits of other manwithout interest rate ceilings; effec- ufacturing industries largely offset tive January 5, 1983, ceiling-free each other; the pattern generally mirchecking accounts will be permitted. rored constant-dollar industry sales. These new accounts will enable de- Increases in the profits of construcpository institutions to compete more tion, retail trade, transportation, and effectively with money market communication corporations also mutual funds. S&L's are likely to gain added to the overall increase in nondeposits that they otherwise would financial profits. The increase in not have gained and to retain deposits retail trade profits occurred even that they otherwise would have lost. though auto dealers registered a The magnitude and timing of these swing from profits to losses. Auto dealers' losses occurred despite an increase in unit sales and reflected the costs of carrying large inventories of unsold cars. CHART 4 Domestic Nonfinancial Corporate Business: Profits; Real Product; and Price, Costs, and Profits per Unit of Real Product Billion $ (Ratio scale) 200 PROFITS BEFORE TAX WITH IVA AND CCAdj (Annual rate) 150 100 I I i I I I I I I I i i I I I i I i I I I i I I Billions of 1972 $ (Ratio scale) 1,000 900 REAL PRODUCT •"(Annual rate) 800 i i I i t i I 700 Dollars (Ratio scale) 2.5 PRICE, COSTS, AND PROFITS PER UNIT OF REAL PRODUCT Price 2.0 - 1.5 - 1.0 .9 *** Labor Cost .8 .7 .6 Nonlabor Cost Profits Before Tax With IVA and CCAdi / \/ /V'\ .1 I i i i I i i i I i i i I i i i I i i i I i i i 1977 78 79 80 81 82 Seasonally Adjusted Note.— Price per unit is current dollar product divided by constant dollar (real) product. Costs and profits per unit are respective components of current dollar product divided by constant dollar product. U.S. Department of Commerce, Bureau of Economic Analysis 82-12-4 6 Profits of domestic financial corporations increased $2% billion in both the second and third quarters, reaching $24% billion. The increase was accounted for by an increase in the profits of commercial banks and decreases in the losses registered by mutual savings banks and savings and loan associations. The reduced losses reflected the impact of decreasing interest rates, which lowered the costs of attracting deposits; the reduced losses occurred although there was a continuing excess of withdrawals over deposits. Profits of Federal Reserve banks—which are treated as part of corporate business in the national income and product accounts— decreased slightly, as the effect of a decline in the average interest rate received on holdings of short-term Federal debt instruments outweighed the effect of an increase in total holdings of assets. Profits from the rest of the world decreased $2 billion to $16% billion in the third quarter, following an increase of $1% billion. A decrease in the profits of foreign manufacturing operations of U.S. corporations was larger than an increase in the profits of the foreign petroleum operations of U.S. corporations. The decrease was centered in Western Europe, where most economies are in recessions. Other measures of profits.—Profits before tax increased $8% billion to $180% billion in the third quarter, after having been unchanged in the second. These profits exclude the inventory valuation adjustment (IVA) and capital consumption adjustment (CCAdj).3 Inventory profits—the IVA with sign reversed—increased $1 billion to $10% billion in the third quarter, following an increase of $5 billion. Profits attributable to underdepreciation—the CCAdj with sign reversed—decreased $3 billion in both the second and third quarters, reaching $4 billion. Somewhat more than $2 billion of each decrease in the CCAdj was due to provisions of the Economic Recovery Tax Act of 1981, which have progressively reduced profits attributable to underdeprecia3. The IVA and CCAdj are defined in National Income and Product Accounts of the United States, 1929-1976: Statistical Tables, U.S. Department of Commerce, Bureau of Economic Analysis (Washington, D.C.: U.S. GPO, 1981). SURVEY OF CURRENT BUSINESS tion. The decreases were also consistent with rates of inflation in prices for fixed nonresidential investment that were lower than those experienced over the service lives of the assets: Such lower rates of inflation lead to less negative values for the portion of the CCAdj that revalues fixed capital used up in production at replacement cost from historical cost. Disposition of profits.—Corporate profits taxes, which are levied on profits including inventory profits and profits attributable to underdepreciation, increased $5% billion to $61 billion in the second quarter, following a decrease of $1% billion. The increase resulted from both higher profits and an increase in the share going to Federal taxes. Only a small portion of the increase in profits taxes resulted from provisions of the Tax Equity and Fiscal Responsibility Act of 1982. The increased share reflected reduced importance of tax credits relative to pretax profits. Dividends continued their uptrend in the third quarter, increasing $1 billion to $70% billion, following an increase of $% billion in the second quarter. Undistributed profits increased $2 billion to $49 billion in the third quarter, following an increase of $1 billion. Unemployment: An Overview In November, 12 million persons in the United States were unemployed.4 That level is 50 percent more than that in the third quarter of 1981, the low prior to the current period of weakness in economic activity, and is double that in the second quarter of 1979, the low prior to the 1980 recession. As a percentage of the civilian labor force, unemployed persons were at a postwar high of 10.8 percent in November, up from 7.4 percent in the third quarter of 1981 and from 5.7 percent in the second quarter of 1979. A 12-million level is of historic interest because that is the level that was averaged during the worst years of the Great Depression, when, of course, it was a much larger partabout 25 percent—of the civilian labor force. 4. Unless otherwise noted, seasonally adjusted data are used in the following discussion. December 1982 Chart 5 shows a number of unemployment rates prepared by the Bureau of Labor Statistics (BLS) to supplement the "official" unemployment rate just mentioned. These summary measures, which are based on information collected for BLS by the Census Bureau in the monthly Current Population Survey (commonly referred to as the household survey), are designed to meet a variety of analytical purposes by defining unemployment and the associated labor force in different ways.5 The official unemployment rate—designated USis based on the definition of unemployed persons as those aged 16 and over who did not work during the week the survey was conducted, who were available to work (except for temporary illness), and who either (1) had made specific efforts to find a job within the prior 4 weeks, (2) were waiting to be recalled to a job from which they had been laid off, or (3) were waiting to report to a new wage and salary job within 30 days. Two of the alternatives shown in the chart are more comprehensive than the official unemployment rate. U6, the rate for full-time workers plus one-half of employed part-time workers, is based on the rationale that persons involuntarily working part-time (34 hours or less) should be counted as at least partly unemployed and that the weights assigned to unemployed persons should reflect whether they were looking for parttime or full-time work. U7 is the rate for workers as defined in U6 plus discouraged workers, that is, those who say they want a job but are not looking because they think they cannot get a job. The addition of discouraged workers is based on the rationale that their situation is essentially the same as that of unemployed workers. U4 through Ul are more narrowly defined, referring, respectively, to unemployed full-time workers (representing those strongly attached to the labor force), unemployed persons 25 years and over (representing experienced workers settled into an occupa5. The Current Population Survey is a sample survey of about 60,000 households. The sample is selected to reflect the civilian noninstitutional population 16 years of age and older. The data collected are based on activity or status reported for the calendar week that contains the 12th day of the month. December 1982 SURVEY OF CURRENT BUSINESS CHART 5 Alternative Unemployment Rates Percent 16 14 12 10 i t i f ill rf i I ! i i ! irl5! i f 1969 70 71 72 73 i i I i i I I I i t I i t i ! I i i i i i i I i i i I I i i I t II 74 75 76 77 78 79 80 81 82 Note.—November is plotted for the fourth quarter of 1982 Data: BLS U.S. Department of Commerce, Bureau of Economic Analysis tion), job losers (because income loss for this group, many of whom are heads of households, stems from forces outside their control), and persons unemployed 15 weeks or longer (because substantial hardship is often a result of long-term unemployment). As is clear from the chart, the pattern of these summary measures is similar. With the exception of the rate for long-term unemployment (Ul), which tends to lag the others by one or more quarters, all rates fell only slightly during the short, weak recovery from the 1980 recession before turning up sharply in the third or fourth quarters of 1981. Previous highs—all set in the 1973-75 recession—were surpassed in the first half of 1982. By November, all rates were well above their previous highs. Ul was 4.1 percent, double its 1981 low and approaching four times its 1979 low. U6 was 13.9 percent, up 4.6 percentage points from 1981 and 6.7 points from 1979. (Unlike the other measures, U7 is available only quarterly, so that the latest figure is for the third quarter. It was then 14.1 percent, up 3.9 points from its 1981 low and 6.1 points from its 1979 low.) Selected unemployment rates.—The unemployment situation that has resulted from the weakness in economic activity—most immediately from that of the last year and a half but also from that of the last 3 years—can be profiled more fully with unemployment rates by demographic characteristic, occupation, industry, and residence of the unemployed. Chart 6 presents some of these unemployment rates. For each major age-sex and raceethnic group, unemployment rates were at postwar highs in November. As shown in the top panel of the chart, throughout 1982 the rate for adult men was above that for adult women. By November the rate for men was 10.1 percent, up 4.1 percentage points from the third quarter of 1981. This increase is larger than those recorded in all postwar recessions except that in 1948-49. For women, the rate was 9.1 percent, up 2.4 points—about the average increase for a recesssion. The unemployment rate for men increases more than that for women in most recessions, but it is unusual for the rate for men to increase so much that it exceeds the rate for women. Teenagers, for whom the rate declined in only two quarters in the past 3 years, experienced the sharpest percentagepoint increase of the age-sex groups— up 5.1 points, to 24.2 percent. The unemployment rate for blacks also had shown little improvement as a result of the recovery in 1981. From 15.8 percent in the third quarter of 1981, the rate moved up to 20.2 percent in November 1982. For persons of Hispanic origin, the rate was 15.7 percent in November, up 5.9 points, and for whites, 9.7 percent, up 3.3 points. The spreads between the rates for whites and for others widened, as is typical of a recession. The middle panel of the chart shows that blue-collar workers experienced the sharpest increase in their unemployment rate from a level that was already the highest of the four major occupational groups. The bluecollar rate was up 6.8 percentage points to 16.5 percent in November. Within that occupational group, operatives (except transport) were affected most; their unemployment rate was 21.2 percent in the fourth quarter, double its 1981 low. (This diverse group of operatives includes occupations such as assemblers, as in the automobile industry; inspectors in manufacturing; packers and wrappers; and welders.) The rates for transportation equipment operatives, craft and kindred workers, and nonfarm laborers ranged from 12 to 19 percent in November, each up 5 to 6 points. In contrast, the rate for whitecollar workers, the lowest rate, increased the least—up only 1.6 points to 5.6 percent. Within that group, the rates for professional and technical workers and for managers and administrators both increased about 1 point to just under 4 percent; the rates for sales and clerical workers both increased more, to 6.3 percent and 7.9 percent, respectively. The sharp run-up in the unemployment rates for men and for bluecollar workers can be traced to the industries most affected by the weakness in economic activity (bottom panel). Among nonagricultural private wage and salary workers, the highest November unemployment rates, and also the sharpest increases from 1981 lows, were for workers last employed in construction (21.9 per- 8 SURVEY OF CURRENT BUSINESS CHART 6 cent in November), mining (18.0 per- Unemployment Rates by Age and Sex, cent), and durable goods manufacturing (17.1 percent). In construction, Occupation, and Industry which had an above-average rate in 1981 (and also in 1979), the increase was 6.0 percentage points. For mining and durable goods manufacturing, which had below-average rates in 1981 (and about average rates in 1979), the increases were 12.1 and 10.0 points, respectively. These three are among the goods-producing industries—roughly the blue-collar industries—where the labor force is predominately made up of men. November rates for workers last employed in transportation and public utilities (8.7 percent) and in finance and services (7.7 percent) were the lowest, but nevertheless at record levels. For the 10 most populous States, the household survey sample is large enough to permit preparation of State unemployment rates.6 The range of November 1982 rates was from highs of 17.2 percent for Michigan and 14.2 percent for Ohio to lows of 7,6 percent for Texas and 7.2 percent for Massachusetts. Michigan and Ohio registered the largest increases, both 5.8 percentage points, from lows in the second quarter of 1981. Massachusetts registered the smallest increase, 1.7 points, from a low in the fourth quarter of 1980; most of the increase occurred before 1982. The increase for Texas was 2.6 points (the third smallest, after New Jersey), and almost all of it occurred in 1982. These differences can be traced in part to the industrial makeup of the States. Michigan and Ohio have heavy concentrations in durable goods manufacturing industries, such as automobiles and primary and fabricated metals, that have been especially hard hit. In Massachusetts, although there is a concentration in durable goods manufacturing, it is in rapid-growth high technology industries. In Texas, oil and gas extraction and petroleum refining, and industries related to them, are important; they were adversely affected in 1982 by recession-induced cutbacks in energy use and lower prices for petroleum. Percent 25 AGE AND SEX 20 Teenagers 15 10 Adult Women 0 20 15 10 6. The 10 States are California, Florida, Illinois, Massachusetts, Michigan, New Jersey, New York, Ohio, Pennsylvania, and Texas. Data for the other States are based on different procedures. 1979 1980 1981 1. Private nonagrtcultural wage and salary workers only. Data: BLS U.S. Department of Commerce, Bureau of Economic Analysis, 1982 December 1982 Table 5.—Involuntary Part-time and Discouraged Workers [Millions; seasonally adjusted] Involuntary parttime workers l 1979- I II Ill IV Discouraged workers Number Percent citing jobmarket reasons 3.3 3.4 3.4 3.5 0.7 .8 .8 .8 69 64 71 62 3.5 4.2 4.3 4.2 .9 1.0 1.0 1.1 63 68 68 68 1981: I II HI IV. . . 4.3 4.2 4.5 5.1 1.1 1.0 1.1 1.2 78 69 73 74 1982: I II.... Ill Nov 5.5 5.7 5.9 65 1.3 1.5 1.6 80 72 75 1980: I II III. . IV . 1. Nonagricultural industries. Source: Bureau of Labor Statistics. Reasons for unemployment—In the household survey, unemployed persons are categorized according to whether they lost their last job by layoff or by permanent separation, voluntarily left a job, entered the labor force for the first time, or reentered the labor force. As is typical of recessions, the percentage of total unemployed persons who lost their jobs increased. However, the percentage reached in November was unusually high—62 percent, 4 points above the previous record in 1973-75. The percentage had dropped to only about 50 percent in 1981, compared with about 40 percent during most recoveries. (The unemployment rate for job losers—U2 in chart 5, was 6.7 percent in November, up 3 points from its 1981 low and more than 4 points from its 1979 low.) In contrast, the percentage of job leavers dropped to a record low in November—6.5 percent. This percentage was down about 5 points from its 1981 high and about 8 points from its 1979 high. Duration of unemployment.—Since the fourth quarter of 1981, when the increase in the number of unemployed brought the measures of average duration down, the mean and median number of consecutive weeks of unemployment increased sharply. The mean increased from 13.2 to 17.2 weeks by November, equaling the highs following the 1973-75 and 1960- December 1982 61 recessions. However, because the duration measures tend to lag turnarounds in the economy (the high following the 1973-75 recession occurred about 1 year after the 1975 trough) they are likely to move even higher. Duration lengthened as the percentage of the total number of unemployed who had been without jobs 15 weeks or longer increased sharply. In November, over one-third of the unemployed had been so for at least 15 weeks, compared with lows of onequarter in 1981 and one-fifth in 1979. (As noted earlier, the unemployment rate for this group (Ul) moved up to a record high in November.) Involuntary part-time and discouraged workers.—Neither persons working part-time involuntarily—that is, for economic reasons such as slack work, material shortages, or inability to find full-time jobs—nor discouraged workers are counted as unemployed. The number of nonagricultural involuntary part-timers increased over the period since 1979: There was no decline following the 1980 recession and a sharp increase beginning in late 1981 (table 5). Their number as a percentage of those at work increased to 7.2 percent from 3.7 percent in the third quarter of 1979 and from 4.6 percent in the second quarter of 1981. The number of discouraged workers followed roughly the same pattern as that of involuntary part-timers. By the third quarter of 1982 (the latest period for which data are available), there were 1.6 million persons classified as discouraged workers, double the number in 1979. About 75 percent of discouraged workers gave job market-related, rather than personal, reasons: they had looked unsuccessfully for a job, or thought that there were no jobs available in their line or 393-936 0 - 8 3 - 2 SURVEY OF CURRENT BUSINESS Table 6.—Revisions in Selected Component Series of the NIPA's, Third Quarter of 1982 Seasonally adjusted at annual rates 45-day estimate 75-day estimate Revision Percent change from preceding quater at annual rates 45-day estimate 75-day estimate Billions of current dollars GNP Personal consumption expenditures Nonresidential fixed investment Residential investment. . ... Change in business inventories Net exports Government purchases . . . . National income Compensation of employees Corporate profits with inventory valuation and capital consumption adjustments . . . Other Personal income 3,080.7 3,088.2 7.5 4.7 5.8 1,987.5 341.2 97.2 2.9 2.7 649.2 1,986.3 344.2 94.3 4.7 6.9 651.7 -1.2 3.0 -2.9 1.8 4.2 2.5 8.4 -11.9 7.0 8.1 -8.7 -4.8 12.1 13.8 2,457.6 2,455.6 -2.0 1,868.2 1,868.3 165.9 423.4 166.2 421.1 2,596.0 2,592.5 5.5 5.1 .1 3.8 3.8 .3 -2.3 29.2 4.5 30.1 2.2 -3.5 7.0 6.4 0 .7 Billions of constant (1972) dollars GNP Personal consumption expenditures Nonresidential fixed investment Residential investment Change in business inventories Net exports Government purchases . 1,478.4 1,481.1 2.7 957.7 162.0 40.7 2.3 25.7 290.0 956.3 163.4 39.5 3.4 27.5 291.1 -1.4 1.4 -1.2 1.1 1.8 1.1 1.1 -10.8 6.3 .6 -7.6 -5.3 6.8" SA 4.7 5.6 5.8 5.0 5.9 6.0 Index numbers, 1972-100 » GNP implicit price deflator GNP fixed-weighted price index GNP chain price index 208.38 215.9 208.51 216.0 .13 .1 1. Not at annual rates. NOTE.—For the third quarter of 1982, the following revised or additional major source data became available: For personal consumption expenditures, revised retail sales for September, consumer share of new car purchases for September, and consumption of electricity for August; for nonresidential fixed investment, revised manufacturers' shipments of equipment for September, revised construction put in place for September, and business share of new car purchases for September; for residential investment, revised construction put in place for September, and residential alterations and repairs for the quarter; for change in business inventories, revised book values for manufacturing and trade for September; for net exports of goods and services, revised merchandise trade for September, and revised service receipts for the quarter; for government purchases of goods and services, revised construction put in place for September; for wages and salaries, revised employment, average hourly earnings, and average weekly hours for September; for net interest, financial assets held by households for the quarter, and revised net interest received from abroad for the quarter; for corporate profits, revised domestic book profits for the quarter, and revised profits from the rest of the world for the quarter; and for GNP prices, revised residential housing prices for the quarter, and revised Producer Price Indexes for September. area. As suggested by the widening of the spreads between U5 and U6 and between U6 and U7, respectively, the increase in the number of persons in these groups has been a significant aspect of the underutilization of resources that has characterized this prolonged period of weakness in economic activity. Third-Quarter NIP A revisions The 75-day revisions of the national income and product account estimates for the third quarter of 1982 are shown in table 6. 10 SURVEY OF CURRENT BUSINESS December 1982 Summary of BEA Working Paper A Stage-of-Processing Price Sector for the BEA Quarterly Econometric Model" By Albert A. Hirsch This paper, BEA Working Paper 1, presents the equations that constitute, before some recent modifications, the price-wage sector of the BEA quarterly econometric model. Most of the price equations fall within a "stage-ofprocessing" (SP) framework, i.e., a framework in which energy and "basic materials" prices explain producer finished goods prices and these prices, in turn, explain implicit price deflators for final demands. The impetus for the development of the SP subsector, as described in Section I of the paper, was the poor forecasting record during the 1970's of the typical aggregative price function incorporated in econometric models. These functions were unable to handle the effects of the price shocks, such as those related to the major crop shortages in 1973-74, the OPEC embargo, and strong demand pressure on nonpetroleum primary commodities in 1973. The theory underlying the prototype SP equation is described in Section II. The starting point is a neoclassical model developed by W. D. Nordhaus in the early 1970's. That model is modified in the direction of greater reality, e.g., to handle consideration of competitive structure, behavior other than profit maximizing, and disequilibrium. Section III presents an overview of the SP framework and describes the data used in the SP subsector. The sub- sector uses price indexes developed from components of the Producer Price Index and relies heavily on interindustry coefficients estimated by BEA. Section IV describes the price-wage sector equations— first those contained in the SP subsector, then the remaining equations. This section is supplemented by two appendixes. One lists the stochastic equations and identities, along with three summary statistics, and the other defines the variables used and describes the operator functions and transformations applied to many of these variables. Section V presents results of historical simulations of the price-wage sector as a whole to test its overall goodness of fit. These results are matched against those from comparable simulations of the previously used price-wage sector, which relied on a "top-down" approach of explaining an aggregative price measure with unit labor cost, a demand proxy, indirect business taxes, and a dummy for wage-price controls, and using this price measure to drive component price measures. The SP approach yields smaller errors, as well as provides a vehicle for simulating macroeconomic effects of changes in energy and basic materials prices. Copies of the paper will soon be available from: National Technical Information Service, 5285 Port Royal Road, Springfield, Virginia 22161. December 1982 SURVEY OF CURRENT BUSINESS 11 Selected National Income and Product Accounts Tables New estimates in this issue: Third quarter 1982, revised. The abbreviations used in the tables are: CCAdj Capital consumption adjustment IVA Inventory valuation adjustment NIPA's National income and product accounts p Preliminary r Revised The NIPA estimates for 1929-76 are in The National Income and Product Accounts of the United States, 1929-76: Statistical Tables (Stock No. 003-010-00101-1, price $10.00). Estimates for 1977-81 and corrections for earlier years are in the July 1982 SURVEY. These publications are available from the Superintendent of Documents and Commerce Department District Offices; see addresses inside front cover. Table 1.1-1.2.—Gross National Product in Current and Constant Dollars Billions of dollars Billions of 1972 dollars Seasonally adjusted at annual rates 1980 1981 1981 II Gross national product... Personal consumption expenditures Durable goods Nondurable goods Services . . . . Gross private domestic investment Fixed investment Nonresidential Structures Producers' durable equipment. . . Residential Nonfarm structures Farm structures Producers' durable equipment Change in business inventories Nonfarm Farm Net exports of goods and services Exports Imports Government purchases of goods and services Federal National defense Nondefense State and local 2,633.1 2,937.7 2,901.8 1,667.2 1,843.2 1,819.4 214.3 670.4 782.5 234.6 734.5 874.1 230.4 729.6 859.4 402.3 471.5 475.5 412.4 309.2 110.5 198.6 103.2 98.3 1.9 3.0 -10.0 -5.7 -4.3 451.1 346.1 129.7 216.4 104.9 99.7 2.1 3.2 20.5 15.0 5.5 450.9 341.3 127.0 214.3 109.5 104.7 1.6 3.2 24.6 19.3 5.3 Seasonally adjusted at annual rates 1982 1980 III IV I II III r 2,980.9 3,003.2 2,995.5 3,045.2 3,088.2 1,868.8 1,884.5 1,919.4 1,947.8 1,986.3 930.5 947.6 241.2 741.3 886.3 1,474.0 1,502.6 1982 1981 1981 II III IV I II III r 1,502.2 1,510.4 1,490.1 1,470.7 1,478.4 1,481.1 944.6 951.4 943.4 949.1 955.0 956.3 137.5 362.2 449.5 138.3 364.5 452.2 136.4 365.9 454.0 229.6 746.5 908.3 237.9 749.1 932.4 240.7 755.0 952.1 240.3 768.4 977.6 13Yl 355.8 437.6 140.0 362.4 445.2 138.6 361.7 444.3 142.2 363.0 446.2 134.1 363.1 446.2 486.0 468.9 414.8 431.5 443.3 208.4 225.8 229.5 233.4 218.9 195.4 202.3 206.3 454.2 353.0 132.7 220.2 101.2 95.6 2.4 3.2 31.8 24.6 7.2 455.7 360.2 139.6 220.6 95.5 89.4 2.9 3.2 13.2 6.0 7.2 450.4 357.0 141.4 215.6 93.4 87.9 2.4 3.1 -35.6 -36.0 .4 447.7 352.2 143.6 208.6 95.5 89.6 2.8 3.2 -16.2 -15.0 -1.2 438.6 344.2 141.3 203.0 94.3 88.7 2.4 3.2 4.7 3.7 1.0 213.3 166.1 48.5 117.6 47.2 44.3 .8 2.0 -5.0 -2.9 -2.1 216.9 172.0 51.6 120.4 44.9 42.1 .9 2.0 9.0 6.8 2.1 217.4 170.1 51.0 119.1 47.3 44.6 .7 2.0 12.1 10.2 1.9 216.9 173.9 52.5 121.4 42.9 39.9 1.0 2.0 16.5 13.6 3.0 214.1 174.2 53.3 120.9 39.9 36.7 1.2 2.0 4.8 1.6 3.2 210.8 172.0 53.5 118.5 38.9 36.0 1.0 1.9 -15.4 -15.6 .2 206.7 166.7 53.7 113.0 40.1 37.0 1.1 1.9 -4.4 -3.8 -.6 202.9 163.4 53.0 110.4 39.5 36.6 1.0 1.9 3.4 2.9 .5 25.2 26.1 23.7 25.9 23.5 31.3 34.9 6.9 50.6 42.0 44.2 39.2 36.5 36.9 35.7 27.5 339.2 314.0 367.3 341.3 368.9 345.1 367.2 341.3 367.9 344.4 359.9 328.6 365.8 330.9 349.5 342.5 159.2 108.6 158.5 116.4 159.7 115.5 157.8 118.7 156.9 120.4 151.7 114.7 154.4 118.7 147.5 120.0 538.4 596.9 583.2 600.2 626.3 630.1 630.9 651.7 284.6 287.1 283.9 286.4 291.3 289.2 285.3 291.1 197.2 131.4 65.8 341.2 228.9 153.7 75.2 368.0 218.2 150.5 67.7 365.0 230.0 154.4 75.7 370.1 250.5 166.9 83.6 375.7 249.7 166.2 83.5 380.4 244.3 176.2 68.2 386.6 259.0 182.7 76.3 392.7 106.5 70.1 36.4 178.1 110.4 73.5 36.8 176.7 107.0 72.9 34.1 176.9 110.7 74.3 36.5 175.7 116.0 76.1 39.9 175.3 114.4 74.5 39.8 174.9 110.3 78.2 32.1 175.0 116.2 80.6 35.5 174.9 Table 1.3-1.4.—Gross National Product by Major Type of Product in Current and Constant Dollars Billions of 1972 dollars Billions of dollars Seasonally adjusted at annual rates Seasonally adjusted at annual rates 1980 II 2,633.1 2,937.7 Gross national product 1982 1981 1981 III IV 2,901.8 2,980.9 3,003.2 I II 2,995.5 3,045.2 1980 II III IV I II III r 1,474.0 1,502.6 1,502.2 1,510.4 1,490.1 1,470.7 1,478.4 1,481.1 1,479.0 -5.0 1,493.7 9.0 1,490.1 12.1 1,493.9 1,485.3 16.5 4.8 1,486.1 15.4 1,482.7 -4.4 1,477.8 3.4 III' 3,088.2 2,643.1 2,917.3 2,877.2 2,949.1 2,989.9 3,031.1 3,061.4 3,083.5 -16.2 4.7 24.6 13.2 -35.6 -10.0 31.8 20.5 Final sales Change in business inventories 1982 1981 1981 1,276.1 1,317.0 1,298.4 1,269.4 1,283.1 1,295.5 667.9 689.5 689.8 697.2 678.0 661.8 663.2 665.1 1,151.9 -10.0 1,268.7 20.5 1,251.4 24.6 1,305.0 356 1,299.3 -16.2 1,290.7 4.7 672.9 -5.0 680.5 9.0 677.7 12.1 680.7 16.5 673.2 4.8 677.2 -15.4 667.5 -4.4 661.7 3.4 477.3 482.5 -5.2 664.6 669.4 -4.8 528.1 519.4 8.7 761.1 749.4 11.7 538.2 519.7 18.5 737.8 731.7 6.1 504.9 510.5 -5.6 793.6 774.7 18.9 482.4 513.2 -30.9 787.0 791.8 -4.8 505.9 512.6 -6.6 777.2 786.7 -9.6 516.9 506.8 10.1 778.6 783.9 -5.4 288.3 290.8 -2.6 379.7 382.1 -2.4 293.1 289.3 3.8 396.3 391.2 5.1 299.6 290.5 9.1 390.3 387.2 3.0 298.8 290.2 8.6 398.4 390.5 7.9 275.1 277.6 -2.5 402.9 395.6 7.3 265.0 278.7 -13.7 396.8 398.5 -1.7 272.3 274.9 -2.6 390.9 392.6 -1.7 274.0 269.2 4.8 391.1 392.5 -1.5 Services Structures 1,225.5 1,364.3 265.7 284.2 1,340.2 285.6 1,382.1 1,421.5 281.9 283.3 1,444.4 281.7 1,476.7 285.3 1,509.5 283.2 687.1 118.9 695.6 117.6 693.2 119.2 697.5 115.7 698.6 113.4 697.0 111.9 702.2 113.0 703.6 112.5 Addenda: Gross domestic purchases * Final sales to domestic purchasers 1 2,607.9 2,911.7 2,617.9 2,891.2 2,878.1 2,955.0 2,979.7 2,964.2 3,010.3 2,853.5 2,923.2 2,966.5 2,999.8 3,026.5 3,081.3 3,076.6 1,423.4 1,428.4 1,460.6 1,451.6 1,458.0 1,445.9 1,471.2 1,454.7 1,453.6 1,448.8 1,433.8 1,449.2 1,442.6 1,447.0 1,453.7 1,450.3 1,141.9 1,289.2 Goods Final sales Change in business inventories Durable goods Final sales .. . Change in business inventories Nondurable goods . . Final sales Change in business inventories ... 1,285.1 1,285.2 31.8 13.2 547.3 527.5 19.8 769.7 757.6 12.0 1. Gross domestic purchases equals GNP less exports plus imports; final sales to domestic purchasers equals final sales less exports plus imports. 12 SURVEY OF CURRENT BUSINESS December 1982 Table 1.5-1.6.—Gross National Product by Sector in Current and Constant Dollars Billions of dollars Billions of 1972 dollars Seasonally adjusted at annual rates 1981 1981 1980 III II Gross national product Gross domestic product Business Nonfarm . Nonfarm less housing . . . . Housing Farm Statistical discrepancy Households and institutions Private households Nonprofit institutions Government . Federal State and local Rest of the world Addendum: Gross domestic business product less housing . . . IV 2,633.1 2,937.7 2,901.8 2,980.9 3,003.2 2,587.0 2,228.8 2,159.5 1,951.0 208.5 65.4 3.9 85.4 6.6 78.8 272.8 82.9 189.9 46.1 2,855.2 2,463.9 2,394.6 2,167.8 226.8 73.9 -4.6 95.2 7.0 88.2 296.2 90.5 205.6 46.6 2,888.5 2,492.4 2,418.5 2,188.9 229.6 75.8 -1.9 96.4 7.0 89.4 299.7 92.3 207.4 49.2 Seasonally adjusted at annual rates 1982 2,931.2 2,533.9 2,454.7 2,223.0 231.7 80.1 -.8 97.1 7.1 90.1 300.1 91.0 209.2 49.7 2,949.8 2,538.6 2,467.4 2,229.9 237.4 78.4 -7.2 100.3 7.1 93.3 310.9 97.9 213.0 53.3 I 1980 1981 1981 III' II II III 1,474.0 1,502.6 1,502.2 1,510.4 1,490.1 1,470.7 1,447.9 1,246.7 1,210.3 1,080.7 129.6 34.2 2.2 45.8 3.4 42.4 155.4 49.5 105.9 26.1 1,477.2 1,274.3 1,236.8 1,105.5 131.4 38.4 -.9 46.9 3.3 43.6 156.0 49.7 106.3 25.4 1,485.0 1,282.4 1,241.9 1,110.6 131.3 40.9 -.4 46.7 3.3 43.5 155.9 49.8 106.1 25.4 1,463.3 1,260.2 1,221.5 1,089.9 131.6 42.3 -3.6 47.4 3.2 44.1 155.8 49.8 106.0 26.7 1,115.4 1,141.4 2,995.7 2,570.1 2,494.4 2,247.9 246.5 74.8 .8 105.3 7.1 98.2 320.3 98.9 221.4 49.5 3,041.6 2,610.0 2,530.2 2,278.0 252.3 76.1 3.6 107.9 7.1 100.8 323.8 99.1 224.7 46.6 1,477.8 1,274.8 1,240.9 1,109.6 131.3 36.3 -2.4 46.7 3.3 43.4 156.2 49.7 106.5 24.4 Gross national product Less: Capital consumption allowances with CCAdj... Capital consumption allowances Less: CCAdj Equals: Net national product Less: Indirect business tax and nontax liability Business transfer payments Statistical discrepancy Plus: Subsidies less current surplus of government enterprises Equals: National income Less: Corporate profits with IVA and CCAdj .. . Net interest Contributions for social insurance Wage accruals less disbursements Plus: Government transfer payments to persons Personal interest income.... Personal dividend income.. Business transfer payments Equals: Personal income 1980 1,458.6 1,255.4 1,214.4 1,081.3 133.1 39.3 1.7 48.0 3.1 44.9 155.2 49.8 105.4 22.5 II I III 1982 1981 1981 II III IV I II III r r 2,633.1 2,937.7 2,901.8 2,980.9 3,003.2 2,995.5 3,045.2 3,088.2 293.2 330.1 325.0 335.2 344.8 348.7 353.9 359.4 232.0 -61.2 267.5 -62.6 262.2 -62.8 271.9 -63.2 282.6 -62.2 293.4 -55.3 304.4 -49.6 314.6 -44.8 2,339.9 2,607.6 2,576.8 2,645.8 2,658.4 2,646.7 2,691.2 2,728.9 213.0 251.3 252.0 253.3 255.3 250.2 256.7 261.7 11.4 3.9 12.4 -1.9 12.2 -4.6 12.5 -.8 12.8 -7.2 13.1 -7.5 13.5 .8 13.8 3.6 5.5 6.6 7.2 6.5 7.0 6.0 4.9 5.8 2,117.1 2,352.5 2,324.4 2,387.3 2,404.5 2,396.9 2,425.2 2,455.6 181.6 187.7 190.6 235.7 185.1 231.6 193.1 244.0 183.9 249.5 157.1 258.7 155.4 267.5 166.2 268.1 204.0 238.1 236.2 240.3 243.5 250.8 253.0 255.2 0 0 0 .2 -.1 -.2 0 0 285.8 263.4 55.9 323.9 329.0 62.5 314.8 320.6 61.5 332.3 339.6 64.1 337.9 351.0 65.2 341.4 359.7 65.8 351.7 372.0 66.1 367.2 378.2 67.2 11.4 12.4 12.2 12.5 12.8 13.1 13.5 13.8 2,160.4 2,415.8 2,380.6 2,458.2 2,494.6 2,510.5 2,552.7 2,592.5 National income [Billions of 1972 dollars] 1,474.0 1,502.6 1,502.2 1,510.4 1,490.1 1,470.7 1,478.4 1,481.1 Gross national product Less: Capital consumption 160.8 162.2 159.3 157.8 154.9 156.3 149.6 155.6 allowances with CCAdj Equals: Net national prod1,324.4 1,347.0 1,347.3 1,354.1 1,332.2 1,311.4 1,317.6 1,318.9 uct Less: Indirect business tax and nontax liability plus business transfer payments less subsidies plus current surplus of govern146.8 147.1 146.6 146.5 147.2 147.2 147.5 144.6 ment enterprises . .. 1.7 .4 -2.4 -3.6 -3.7 -.4 2.2 -.9 Statistical discrepancy .... 1,177.6 1,200.8 1,202.6 1,207.0 1,189.2 1,168.5 1,170.1 1,170.4 Equals: National income 2,117.1 2,352.5 2,324.4 2,387.3 2,404.5 2,396.9 2,425.2 2,455.6 Compensation of employ1,598.6 1,767.6 1,750.0 1,789.1 1,813.4 1,830.8 1,850.7 1,868.3 ees 1,356.1 1,494.0 1,479.4 1,512.6 1,531.1 1,541.5 1,556.6 1,570.0 Wages and salaries Government and gov303.5 300.0 296.3 284.0 283.1 292.3 ernment enterprises .... 260.1 279.8 1,095.9 1,210.9 1,199.6 1,228.6 1,238.8 1,245.2 1,256.6 1,266.4 Other Supplements to wages 294.1 298.3 289.3 276.5 273.6 282.3 270.6 242.5 and salaries Employer contributions for social in142.8 141.7 140.2 133.2 136.5 132.1 134.3 115.3 surance 155.5 152.5 149.1 142.2 140.4 145.8 138.4 127.2 Other labor income Proprietors' income with IVA and CCAdj Farm . . . . Proprietors' income with IVA . . CCAdj Nonfarm Proprietors' income IVA CCAdj Rental income of persons with CCAdj Rental income of persons CCAdj Corporate profits with IVA and CCAdj Corporate profits with IVA Profits before tax Profits tax liability .. Profits after tax Dividends Undistributed profits IVA CCAdj Net interest Table 1.8.—Relation of Gross National Product, Net National Product, and National Income in Constant Dollars 1,454.1 1,250.5 1,212.2 1,079.5 132.6 38.0 .4 47.9 3.1 44.8 155.7 49.8 105.9 24.2 Billions of dollars 1982 1981 IV 1,478.4 1,481.1 Seasonally adjusted at annual rates Seasonally adjusted at annual rates III 1,448.0 1,244.4 1,210.0 1,077.9 132.0 38.1 37 47.8 3.1 44.7 155.7 49.8 106.0 22.7 III r Table 1.11.—National Income by Type of Income Billions of dollars II II 2,995.5 3,045.2 3,088.2 2,012.0 2,253.5 1981 I 2,949.6 2,530.6 2,465.1 2,222:8 242.3 72.9 -7.5 103.3 7.1 96.2 315.8 98.6 217.1 45.8 Table 1.7.—Relation of Gross National Product, Net National Product, National Income, and Personal Income 1980 1982 IV Addenda: Corporate profits after tax with IVA and CCAdj Dividends Undistributed profits with IVA and CCAdj 116.3 19.4 124.7 24.0 123.8 22.5 127.5 27.1 124.1 24.6 116.4 17.8 117.3 17.4 118.4 16.6 26.4 -7.0 96.9 99.9 -3.1 .1 31.8 -7.9 100.7 100.3 -1.6 2.1 30.3 78 101.2 100.9 -1.4 1.8 35.1 80 100.4 99.3 -1.2 2.3 32.8 82 99.5 97.7 -1.2 3.0 26.0 -8.2 98.6 93.8 0 4.7 25.5 -8.1 99.9 94.5 1.0 6.4 24.7 -8.1 101.7 94.4 -.5 7.9 32.9 33.9 34.0 33.6 33.6 33.9 34.2 34.6 65.3 -32.4 69.4 -35.5 68.9 -34.9 69.5 359 70.5 369 71.0 37 1 70.7 -36.4 70.9 -36.3 181.6 190.6 185.1 193.1 183.9 157.1 155.4 166.2 199.4 242.4 84.7 157.8 58.1 207.5 232.1 81.2 150.9 65.1 202.6 225.4 79.2 146.2 64.0 210.3 233.3 82.4 150.8 66.8 199.4 216.5 71.6 144.9 68.1 167.2 171.6 56.7 115.0 68.8 162.2 171.7 55.3 116.3 69.3 170.0 180.3 60.9 119.4 70.5 99.7 -43.0 -17.8 85.8 -24.6 -16.8 82.2 22 8 -17.5 84.0 23 0 -17.1 76.9 -17.1 -15.5 46.1 44 -10.1 47.0 94 -6.9 48.8 -10.3 -3.8 187.7 235.7 231.6 244.0 249.5 258.7 267.5 268.1 97.0 58.1 109.5 65.1 105.9 64.0 110.7 66.8 112.3 68.1 100.4 68.8 100.0 69.3 105.3 70.5 38.9 44.4 42.0 43.9 44.3 31.6 30.7 34.8 SURVEY OF CURRENT BUSINESS December 1982 13 Table 1.13.—Gross Domestic Product of Corporate Business in Current Dollars and Gross Domestic Product of Nonfinancial Corporate Business in Current and Constant Dollars 1980 Billions of dollars Billions of dollars Seasonally adjusted at annual rates Seasonally adjusted at annual rates 1981 Gross domestic product of corporate business Capital consumption allowances with CCAdj Net domestic product Indirect business tax and nontax liability plus business transfer payments less subsidies 1,635.5 1,837.1 1,818.6 181.2 206.2 202.9 1980 1982 1981 II IV III I II 1,867.8 1,873.1 1,863.1 209.7 216.0 III 1,454.2 1,630.9 1,615.7 1,658.1 1,657.1 1,644.2 1,659.3 1,683.7 155.8 186.1 186.9 184.0 189.1 187.8 192.2 189.1 1,298.5 1,444.8 1,428.8 1,470.3 1,468.0 1,460.2 1,470.3 1,491.4 Domestic income Compensation of em1,107.3 1,224.5 1,213.5 1,242.5 1,251.5 1,259.5 1,270.7 1,278.7 ployees 929.2 1,024.8 1,015.7 1,040.5 1,046.6 1,049.7 1,057.8 1,063.4 Wages and salaries Supplements to 215.3 212.9 199.7 204.9 209.8 202.1 197.8 wages and salaries... 178.0 Corporate profits with 149.9 137.2 158.3 140.2 172.2 164.3 151.3 167.8 IVA and CCAdj Profits before tax Profits tax liability .. Profits after tax Dividends Undistributed profits IVA CCAdj Net interest Gross domestic product of financial corporate business Gross domestic product of nonfinancial corporate business Capital consumption allowances with CCAdj 212.1 84.7 127.5 39.7 209.3 81.2 128.1 50.8 204.6 79.2 125.4 48.9 212.3 82.4 129.8 52.7 190.9 71.6 119.3 54.6 154.7 56.7 98.1 56.0 153.5 55.3 98.2 58.0 164.0 60.9 103.1 60.6 87.8 -43.0 -17.8 39.9 77.3 -24.6 -16.8 52.5 76.4 -22.8 -17.5 51.0 77.1 -23.0 -17.1 55.6 64.7 -17.1 -15.5 58.3 42.0 -4.4 -10.1 60.5 40.2 -9.4 -6.9 62.4 42.4 -10.3 -3.8 62.8 Profits before tax Profits tax liability .. Profits after tax Dividends Undistributed profits IVA CCAdj Net interest Gross domestic product of nonfmancial corporate business... 116.8 1,537.7 1,732.3 1,715.0 1,763.6 1,767.2 1,756.6 1,771.0 1,794.4 Net domestic product Indirect business tax and nontax liability plus business transfer payments less subsidies Domestic income 172.0 104.8 195.8 103.6 192.6 106.0 104.2 199.1 111.7 106.6 207.8 205.1 212.1 II III r 183.0 64.8 118.2 42.4 186.6 63.3 123.3 52.9 181.8 61.4 120.4 51.2 191.5 65.5 126.0 54.4 170.5 54.8 115.7 56.7 134.8 38.9 95.8 58.0 131.3 37.1 94.2 59.7 139.8 42.1 97.6 62.6 75.8 -43.0 -17.0 52.4 70.3 -24.6 -16.3 62.5 69.2 -22.8 -16.9 61.2 71.6 -23.0 -16.7 65.7 58.9 -17.1 -15.1 68.1 37.8 -4.4 -10.0 70.5 34.5 -9.4 -7.1 72.6 35.0 -10.3 -4.2 73.1 857.9 859.3 Billions of 1972 dollars Capital consumption allowances with CCAdj 97.8 I IV 1,365.7 1,536.5 1,522.4 1,564.5 1,562.0 1,548.8 1,559.0 1,578.4 Net domestic product Indirect business tax and nontax liability plus business transfer pay184.2 179.0 179.9 176.3 181.2 178.3 181.3 ments less subsidies 148.6 1,217.1 1,358.2 1,343.4 1,384.5 1,380.8 1,372.4 1,377.8 1,394.2 Domestic income Compensation of em1,041.7 1,150.1 1,140.0 1,167.0 1,174.5 1,181.6 1,190.4 1,195.8 ployees 954.7 977.7 991.4 995.0 982.7 985.3 874.8 962.9 Wages and salaries Supplements to 185.4 200.8 187.1 189.3 196.4 198.9 191.9 wages and salaries... 166.9 Corporate profits with 142.1 125.3 151.8 138.2 120.3 114.8 123.0 145.6 IVA and CCAdj 227.5 223.4 III II 1,882.7 1,911.2 218.9 1982 1981 1981 r 216.0 860.3 881.3 884.2 887.5 870.4 858.8 90.1 94.3 93.8 94.9 96.0 97.0 98.1 99.2 770.2 787.0 790.4 792.6 774.5 761.8 759.8 760.1 93.0 677.2 94.7 692.2 94.4 696.0 95.2 697.4 94.7 679.8 94.6 667.2 95.0 664.8 94.6 665.5 Table 1.14-1.15.—Auto Output in Current and Constant Dollars Billions of 1972 dollars Billions of dollars Seasonally adjusted at annual rates Seasonally adjusted at annual rates 1980 Auto output Final sales Personal consumption expenditures New autos Net purchases of used autos Producers' durable equipment New autos Net purchases of used autos Net exports Exports Imports Government purchases Change in business inventories New Used .. Addenda: Domestic output of new autos ' Sales of imported new autos 2 II III 1980 1982 1981 1981 IV I II III II 111" 1982 1981 1981 IV I II IIIr 59.8 69.2 73.7 78.7 58.3 53.5 69.9 75.2 38.7 41.5 44.5 45.6 34.4 31.3 39.7 42.3 60.9 60.6 45.7 14.9 12.1 21.1 -9.0 -12.8 4.0 16.8 1.0 -1.1 -.6 -.5 68.0 67.2 49.2 18.0 13.6 24.1 -10.5 -13.8 4.0 17.8 1.0 1.2 .9 .3 63.3 63.0 45.4 17.6 13.1 22.4 -9.3 -13.7 4.3 18.0 .9 10.4 11.3 -.9 74.4 71.5 52.1 19.3 15.3 27.6 -12,3 -13.4 4.6 18.1 1.1 4.3 3.1 1.2 60.2 62.8 45.0 17.8 12.5 22.0 -9.4 -16.0 2.8 18.9 .9 -1.9 -1.6 -.3 65.9 68.0 48.8 18.3 13.1 23.3 -10.2 -16.1 2.6 18.7 .9 -12.4 -12.7 .3 64.5 67.8 50.0 17.8 13.4 22.9 -9.5 -17.6 3.4 21.0 .9 5.4 5.8 -.4 66.6 69.5 48.8 20.7 15.2 26.7 -11.6 -19.1 3.4 22.5 1.0 8.7 9.1 -.4 39.4 35.8 28.3 7.5 8.3 13.0 -4.8 -5.4 2.5 7.9 .7 -.7 -.4 -.3 40.8 36.0 28.8 7.2 9.5 14.1 -4.6 -5.3 2.3 7.7 .7 .7 .6 .1 38.2 33.9 26.7 7.3 8.9 13.1 -4.2 -5.3 2.5 7.8 .6 6.3 6.7 -.4 43.7 37.4 30.0 7.5 10.7 15.8 -5.2 -5.1 2.7 7.8 .7 1.8 1.3 .5 35.2 32.2 25.6 6.6 8.8 12.5 -3.7 -6.5 1.6 8.0 .6 -.8 -.7 -.1 38.3 34.9 28.3 6.6 9.3 13.3 -4.0 -6.6 1.5 8.0 .6 -7.0 -7.1 .1 37.0 34.4 28.2 6.2 9.3 12.9 -3.6 -7.3 1.9 9.2 .6 2.7 2.8 -.1 37.4 34.2 27.2 7.1 10.6 14.9 -4.3 -8.1 1.8 9.9 .7 4.8 5.0 -.1 49.1 21.4 54.6 24.5 59.5 23.9 61.6 24.3 44.8 25.2 37.8 27.6 53.3 26.6 59.7 28.1 30.5 13.3 31.9 14.3 34.9 14.0 35.4 14.0 25.5 14.4 21.6 15.7 30.1 15.0 33.1 15.7 Table 1.16-1.17.—Truck Output in Current and Constant Dollars Billions of dollars Billions of 1972 dollars Seasonally adjusted at annual rates 1980 Truck output ' 1981 1981 II III Seasonally adjusted at annual rates 1982 IV I II 1980 1981 III r 1981 II III 1982 IV I II III r 26.1 27.8 30.1 26.5 27.7 29.4 32.9 30.3 13.9 13.3 14.6 12.6 12.9 13.9 15.6 14.0 Final sales Personal consumption expenditures Producers' durable equipment Net exports Exports .. Imports Government purchases 28.2 7.5 18.0 -1.1 3.1 4.1 3.7 27.6 7.7 17.3 -1.6 3.3 4.9 4.3 29.5 7.9 18.2 -1.1 3.4 4.5 4.5 27.5 8.2 17.4 -2.5 3.2 5.7 4.4 25.8 7.4 16.6 -2.2 3.1 5.3 4.0 32.0 11.8 18.6 -2.6 2.9 5.5 4.3 29.7 11.6 17.0 -3.3 2.7 6.0 4.5 26.9 10.7 15.2 -3.7 2.0 5.7 4.7 14.9 4.7 9.2 -.8 1.6 2.3 1.9 13.2 4.5 7.8 -1.0 1.5 2.5 1.9 14.2 4.7 8.3 -.8 1.5 2.4 2.0 13.0 4.7 7.7 -1.4 1.4 2.8 2.0 11.8 4.2 7.2 -1.3 1.3 2.6 1.7 15.1 6.7 8.0 -1.5 1.2 2.7 1.8 14.0 6.5 7.3 -1.7 1.1 2.8 1.9 12.4 6.0 6.3 -1.8 .8 2.7 2.0 Change in business inventories -2.0 .2 .7 3.2 3.4 .1 .4 -.5 1.0 1.6 1.5 -1.0 Table 1.14-1.15: 1. Consists of final sales and change in business inventories of new autos produced in the United States. 2. Consists of personal consumption expenditures, producers' durable equipment, and government purchases. 1.9 -2.5 Table 1.16-1.17: 1. Includes new trucks only. -1.1 -1.2 14 SURVEY OF CURRENT BUSINESS Table 2.1.—Personal Income and Its Disposition December 1982 Table 2.2-2.3.—Personal Consumption Expenditures by Major Type of Product in Current and Constant Dollars Billions of dollars Billions of dollars Seasonally adjusted at annual rates 1980 1981 II HI Seasonally adjusted at annual rates 1982 1981 I IV III r II 1980 1981 1981 II Wage and salary disbursements Commodity-producing industries Manufacturing Distributive industries Service industries Government and government enterprises Other labor income 1,356.1 1,493.9 1,479.4 1,512.3 1,531.2 1,541.6 1,556.6 1,570.0 468.0 354.4 330.5 297.4 510.8 386.4 361.4 338.6 507.2 386.9 358.7 333.7 519.3 392.9 366.5 342.8 517.7 388.7 368.3 352.8 514.3 385.1 371.4 359.5 513.6 385.6 375.4 367.6 510.2 383.8 378.4 377.8 260.2 283.1 279.8 283.8 292.4 296.5 300.0 303.5 127.2 140.4 138.4 142.2 145.8 149.1 152.5 155.5 Proprietors' income with IVA and CCAdj Farm Nonfarm 116.3 19.4 96.9 124.7 24.0 100.7 123.8 22.5 101.2 127.5 27.1 100.4 124.1 24.6 99.5 116.4 17.8 98.6 117.3 17.4 99.9 118.4 16.6 101.7 Rental income of persons with CCAdj 32.9 33.9 34.0 33.6 33.6 33.9 34.2 34.6 Personal dividend income 55.9 62.5 61.5 64.1 65.2 65.8 66.1 67.2 Personal interest income 263.4 329.0 320.6 339.6 351.0 359.7 372.0 378.2 Transfer payments Old-age, survivors, disability, and health insurance benefits Government unemployment insurance benefits Veterans benefits Government employees retirement benefits Other transfer payments.... Aid to families with dependent children Other . . 297.2 336.3 327.0 344.8 350.7 354.6 365.2 381.0 154.2 182.0 173.7 190.6 192.8 194.7 197.5 209.2 16.1 15.0 15.4 16.1 15.1 15.9 14.1 16.0 16.7 16.4 18.7 16.3 23.5 16.1 25.5 16.3 43.0 69.0 49.2 73.6 49.1 73.2 49.6 74.4 50.8 74.0 51.5 73.3 54.4 73.8 54.9 75.2 12.4 56.6 13.4 60.3 13.4 59.8 13.5 61.0 13.4 60.6 13.2 60.1 13.2 60.6 13.0 62.1 Less: Personal contributions for social insurance . and Equals: Disposable personal income Less: Personal outlays Personal consumption expenditures Interest paid by consumers to business Personal transfer payments to foreigners (net) Equals: Personal saving Addenda: Disposable personal income: Total, billions of 1972 dollars Per capita: Current dollars 1972 dollars Population (millions) Personal saving as percentage of disposable personal income Personal consumption expenditures Durable goods Motor vehicles and parts ... Furniture and household equipment Other . . . Nondurable goods . . . Food Clothing and shoes Gasoline and oil . Other nondurable goods Fuel oil and coal . Other Services Housing Household operation Electricity and gas Other Transportation Other 1,667.2 1,843.2 1,819.4 III' II 2,160.4 2,415.8 2,380.6 2,458.2 2,494.6 2,510.5 2,552.7 2,592.5 Personal income Less: Personal tax nontax payments . 1982 I IV III 1,868.8 1,884.5 1,919.4 1,947.8 1,986.3 214.3 234.6 230.4 241.2 229.6 237.9 240.7 240.3 89.7 98.6 94.2 104.0 93.9 103.2 103.3 104.3 86.3 38.3 93.4 42.6 93.3 42.9 93.8 43.4 93.3 42.4 91.0 43.7 93.2 44.2 92.7 43.3 670.4 734.5 729.6 741.3 746.5 749.1 755.0 768.4 343.7 104.7 87.0 135.0 19.0 116.0 375.3 114.6 96.8 147.9 19.7 128.2 372.1 114.0 96.7 146.9 19.9 127.0 378.0 115.9 97.7 149.7 19.9 129.8 382.3 116.0 97.5 150.7 19.2 131.5 387.9 117.5 95.3 148.4 17.3 131.1 395.0 118.4 91.3 150.4 17.3 133.1 401.3 119.1 94.2 153.8 18.4 135.4 782.5 874.1 859.4 886.3 908.3 932.4 952.1 977.6 266.0 111.7 56.6 55.1 62.9 341.9 295.3 128.9 66.8 62.1 65.4 384.4 291.3 125.2 64.6 60.7 64.3 378.5 298.7 132.8 69.4 63.5 65.5 389.3 307.0 136.9 71.2 65.7 65.7 398.7 314.5 141.4 75.1 66.3 66.9 409.6 320.4 140.7 72.6 68.1 69.5 421.5 328.2 145.0 75.2 69.9 71.5 432.9 Billions of 1972 dollars 88.7 104.9 104.1 106.1 107.0 110.6 111.4 112.4 336.3 386.7 384.2 398.1 393.2 393.4 401.2 394.4 1,717.9 1,898.9 1,874.5 1,925.7 1,942.7 1,977.9 2,007.2 2,046.1 1,667.2 1,843.2 1,819.4 1,868.8 1,884.5 1,919.4 1,947.8 1,986.3 55.1 54.4 56.2 57.5 57.8 58.4 Durable goods Motor vehicles and parts ... Furniture and household equipment Other Nondurable goods 1,824.1 2,029.1 1,996.5 2,060.0 2,101.4 2,117.1 2,151.5 2,198.1 49.9 Personal consumption expenditures 59.0 .8 .6 .8 .7 .7 .8 .9 .8 106.2 130.2 122.0 134.4 158.6 139.1 144.3 152.0 1,018.0 1,043.1 1,036.6 1,048.8 1,051.9 1,046.9 1,054.8 1,058.3 Food Clothing and shoes Gasoline and oil Other nondurable goods Fuel oil and coal Other Services . . Housing Household operation Electricity and gas Other Transportation . . Other 930.5 947.6 944.6 951.4 943.4 949.1 955.0 956.3 137.1 140.0 138.6 142.2 134.1 137.5 138.3 136.4 53.8 54.2 52.2 56.1 50.0 54.9 54.4 53.8 60.1 23.2 61.6 24.3 61.8 24.6 61.4 24.7 60.4 23.7 58.5 24.1 59.4 24.4 58.9 23.7 355.8 362.4 361.7 363.0 363.1 362.2 364.5 365.9 180.2 78.0 25.7 72.0 4.0 68.0 181.4 82.7 25.7 72.6 3.5 69.1 181.3 82.6 25.4 72.5 3.4 69.0 180.9 83.1 26.2 72.9 3.5 69.4 182.0 83.0 25.8 72.3 3.3 69.0 181.7 83.8 26.2 70.4 3.0 67.4 183.0 84.0 27.2 70.2 3.2 67.1 184.9 84.0 26.5 70.5 3.3 67.2 437.6 445.2 444.3 446.2 446.2 449.5 452.2 454.0 159.6 61.5 23.8 37.8 34.1 182.4 162.6 63.5 24.6 38.8 32.4 186.8 162.4 63.0 24.4 38.6 32.3 186.7 162.9 64.1 25.0 39.1 32.1 187.2 163.5 64.4 25.2 39.2 31.7 186.6 164.5 64.5 25.6 38.9 31.9 188.5 165.2 63.4 24.1 39.3 32.5 191.0 165.7 63.7 24.3 39.4 32.7 191.8 Table 3.14.—State and Local Government Social Insurance Funds Receipts and Expenditures [Billions of dollars] 8,827 9,155 8,698 8,951 9,107 9,285 9,461 8,012 4,516 4,557 4,527 4,552 4,555 4,538 4,559 4,472 230.1 231.2 229.5 231.7 232.3 230.8 227.7 229.9 Receipts 5.8 6.4 6.1 6.5 7.5 6.6 6.7 6.9 Contributions for social insurance Personal contribution Employer contributions Government and government enterprises .... Other Interest and dividends received Expenditures Administrative expenses (purchases of goods and services) Transfer payments to persons Surplus (-) or 45.6 52.6 51.7 53.4 55.1 56.8 58.5 60.1 29.9 33.8 33.4 34.2 35.1 36.0 36.9 37.7 7.6 22.4 8.5 25.3 8.5 24.9 8.6 25.6 8.7 26.3 8.9 27.1 9.1 27.8 9.2 28.4 20.0 2.4 22.7 2.5 22.4 2.5 23.1 2.6 23.7 2.6 24.4 2.6 25.1 2.7 25.7 2.7 15.7 18.8 18.3 19.2 20.0 20.8 21.6 22.5 18.4 20.8 20.5 21.1 21.7 22.3 22.8 23.3 .6 .6 .6 .6 .6 .7 .7 .7 17.8 20.2 19.8 20.4 21.1 21.6 22.1 22.6 27.3 31.8 31.3 32.3 33.3 34.5 35.7 36.9 deficit Table 3.14: NOTE.—In this table, interest and dividends received are included in receipts; in tables 3.2 and 3.3, interest received and dividends received are netted against expenditures. SURVEY OF CURRENT BUSINESS December 1982 Table 3.3.—State and Local Government Receipts and Expenditures Table 3.2.—Federal Government Receipts and Expenditures 1980 540.7 Receipts Personal tax and nontax receipts . .. Income taxes Estate and gift taxes Nontaxes Corporate profits tax accruals Indirect business tax and nontax accruals Excise taxes Customs duties Nontaxes Contributions for social insurance Expenditures Purchases of goods and services National defense Nondefense Transfer payments To persons To foreigners Grants-in-aid to State and local governments Net interest paid Interest paid To persons and business To foreigners Less: Interest received 1980 1982 1981 II III IV 627.0 640.2 625.7 I 609.9 II III' 617.0 613.7 298.1 290.8 7.0 .3 297.0 289.8 6.9 .3 307.9 300.6 7.1 .3 300.9 293.2 7.5 .3 299.9 291.1 8.5 .3 305.8 297.5 8.0 .3 295.6 288.1 7.2 .3 70.3 67.3 65.6 68.4 59.1 46.5 45.2 49.8 38.9 26.8 7.2 4.9 58.5 44.1 8.6 5.8 61.5 47.7 8.3 5.5 57.8 43.1 9.0 5.8 57.2 41.9 9.3 6.1 48.7 33.6 8.7 6.3 49.8 34.6 8.6 6.6 50.8 35.5 8.5 6.8 174.1 204.3 202.8 206.1 208.4 214.9 216.2 217.5 602.1 688.2 667.5 698.2 727.4 728.3 736.6 769.7 197.2 131.4 65.8 251.4 246.2 5.2 228.9 153.7 75.2 286.6 280.9 5.7 218.2 150.5 67.7 276.7 271.9 4.8 230.0 154.4 75.7 295.1 289.0 6.1 250.5 166.9 83.6 300.7 294.0 6.6 249.7 166.2 83.5 303.2 297.2 6.0 244.3 176.2 68.2 312.8 307.0 5.8 259.0 182.7 76.3 327.4 321.8 5.6 88.7 53.1 67.2 87.7 71.9 91.4 90.6 68.3 87.4 86.3 74.0 94.3 83.6 79.0 99.5 83.0 79.6 101.8 85.0 82.8 105.1 82.0 88.7 111.9 54.7 12.5 14.1 74.6 16.7 19.5 70.4 17.0 19.1 77.2 17.1 20.3 82.4 17.1 20.6 83.9 17.9 22.1 87.6 17.4 22.3 94.2 17.8 23.2 Receipts Personal tax and nontax receipts Income taxes Nontaxes Other Corporate profits tax accruals Indirect business tax and nontax accruals Sales taxes Property taxes Other Contributions for social insurance Federal grants-in-aid Expenditures 11.7 10.4 13.1 12.2 13.7 11.6 13.0 12.0 13.6 13.8 12.7 13.7 11.6 12.6 12.6 11.8 -1.3 -.9 -2.0 -1.0 .3 1.1 1.0 -.8 .2 1 2 less Surplus or deficit (-), NIPA's Social insurance funds Other Billions of dollars Seasonally adjusted at annual rates 257.5 250.7 6.6 .2 Subsidies less current surplus of government enterprises Subsidies Less: Current surplus of government enterprisesLess: Wage accruals disbursements Billions of dollars Seasonally adjusted at annual rates 1981 628.2 0 0 15 0 -61.4 -60.0 -40.5 -58.0 -12.4 -49.0 -11.0 -49.0 -3.9 -36.6 -16.6 -41.4 0 Purchases of goods and services Compensation of employees Other Transfer payments to persons Net interest paid Interest paid Less: Interest received -19.3 -16.4 -82.4 -102.0 1982 1981 II HI IV I II III' 385.9 416.8 415.2 420.3 421.5 424.2 434.3 440.5 78.8 42.8 28.1 7.9 88.6 48.3 32.0 8.3 87.2 47.5 31.4 8.3 90.3 49.3 32.6 8.4 92.3 50.1 33.7 8.5 93.6 50.2 34.8 8.6 95.4 50.8 35.9 8.7 98.8 53.0 37.0 8.9 14.4 13.9 13.6 14.0 12.5 10.1 10.2 11.2 174.1 82.8 68.4 22.9 192.8 90.4 75.1 27.2 190.4 89.2 74.3 27.0 195.5 91.8 76.0 27.8 198.0 91.8 77.8 28.4 201.5 92.6 79.8 29.2 206.9 95.0 81.8 30.0 210.9 96.1 84.7 30.2 29.9 88.7 33.8 87.7 33.4 90.6 34.2 86.3 35.1 83.6 36.0 83.0 36.9 85.0 37.7 82.0 357.8 385.0 382.2 386.9 392.4 396.5 402.2 408.2 341.2 368.0 365.0 370.1 375.7 380.4 386.6 392.7 189.9 151.3 207.4 160.6 205.6 159.4 209.2 161.0 213.0 162.7 217.1 163.2 221.4 165.2 224.7 168.0 39.6 -14.8 20.3 35.0 43.0 -16.9 23.7 40.6 42.8 -16.7 23.2 39.8 43.3 -17.4 24.2 41.5 43.9 -17.8 25.3 43.1 44.3 -18.5 26.4 44.9 44.7 -19.2 27.4 46.7 45.4 -19.8 28.5 48.3 2.1 2.6 2.5 2.7 2.8 3.0 3.2 3.3 Subsidies less current surplus of government enterprises Subsidies Less: Current surplus of government enterprises.. -6.2 .4 -6.5 .4 -6.4 .4 -6.5 .4 -6.6 .4 -6.6 .4 -6.7 .4 -6.8 .5 6.5 6.9 6.8 6.9 7.0 7.1 7.2 7.3 Less: Wage accruals less disbursements 0 0 0 0 0 0 0 0 28.2 31.7 32.9 33.5 29.1 27.7 32.1 32.3 27.3 .9 31.8 -.1 31.3 1.7 32.3 1.2 33.3 -4.2 34.5 -6.8 35.7 -3.6 36.9 -4.5 Less: Dividends received Surplus or deficit (-), NIPA's 0 Social insurance funds Other . -101.7 -118.4 -119.6 -156.0 1981 -24.1 -36.5 -95.5 -119.6 Table 3.7B-3.8B.—Government Purchases of Goods and Services by Type in Current and Constant Dollars Billions of dollars Billions of 1972 dollars Seasonally adjusted at annual rates 1980 1981 II Government purchases of goods and services Federal National defense Durable goods . Nondurable goods Services Compensation of employees Military Civilian Other services .... Structures . . . . Nondefense Durable goods Nondurable goods Services Compensation of employees Other services Structures State and local Durable goods Nondurable goods . Services Compensation of employees Other services Structures . . Seasonally adjusted at annual rates 1982 1981 HI IV I II 1980 III r 1982 1981 1981 II III IV I II III T 538.4 596.9 583.2 600.2 626.3 630.1 630.9 651.7 284.6 287.1 283.9 286.4 291.3 289.2 285.3 291.1 197.2 131.4 33.6 10.7 84.1 53.2 30.5 22.7 30.8 3.0 228.9 153.7 40.1 12.6 98.0 60.8 35.6 25.2 37.2 3.0 218.2 150.5 40.0 13.2 94.4 59.2 34.4 24.9 35.1 2.9 230.0 154.4 41.6 11.9 98.0 59.8 34.6 25.2 38.1 2.9 250.5 166.9 42.7 13.2 107.6 65.6 39.4 26.2 42.0 3.4 249.7 166.2 43.1 13.6 106.0 66.3 39.7 26.5 39.8 3.5 244.3 176.2 48.9 13.4 110.7 66.5 39.8 26.7 44.1 3.3 259.0 182.7 51.7 13.2 113.8 66.8 39.9 26.9 47.0 4.0 106.5 70.1 18.3 2.4 47.9 32.2 18.9 13.3 15.7 1.5 110.4 73.5 19.7 2.6 49.9 32.8 19.3 13.5 17.1 1.4 107.0 72.9 19.9 2.7 49.0 32.7 19.2 13.5 16.3 1.3 110.7 116.0 114.4 110.3 116.2 74.3 20.2 2.4 50.3 33.0 19.3 13.6 17.3 1.3 76.1 20.1 2.6 51.8 33.1 19.4 13.6 18.8 1.5 74.5 19.9 2.8 50.3 33.2 19.5 13.7 17.1 1.5 78.2 21.7 2.8 52.3 33.3 19.5 13.7 19.1 1.4 80.6 22.8 2.7 53.4 33.3 19.6 13.8 20.1 1.7 65.8 2.8 4.3 52.2 29.7 22.5 6.6 75.2 2.5 11.0 55.0 31.5 23.5 6.8 67.7 2.5 3.7 54.7 31.3 23.3 6.8 75.7 2.1 12.3 54.4 31.1 23.2 6.8 83.6 2.5 18.9 55.7 32.2 23.5 6.4 83.5 2.8 18.4 56.1 32.4 23.7 6.3 68.2 2.6 4.8 54.7 32.4 22.3 6.0 76.3 2.5 12.8 55.1 32.3 22.7 6.0 36.4 1.6 2.1 29.6 17.3 12.3 3.1 36.8 1.3 4.1 28.4 16.9 11.5 3.1 34.1 1.3 1.0 28.6 17.0 11.6 3.1 36.5 1.1 4.2 28.1 16.8 11.3 3.0 39.9 1.2 7.9 27.9 16.7 11.2 2.8 39.8 1.3 8.1 27.7 16.6 11.1 2.7 32.1 1.3 1.4 26.8 16.5 10.3 2.6 35.5 1.2 5.0 26.8 16.5 10.3 2.6 341.2 11.2 27.0 257.6 189.9 67.7 45.4 368.0 12.0 30.3 282.8 207.4 75.4 42.9 365.0 11.9 29.9 280.7 205.6 75.1 42.4 370.1 12.1 30.7 285.9 209.2 76.7 41.4 375.7 12.2 31.3 290.6 213.0 77.6 41.6 380.4 12.3 31.7 296.1 217.1 79.0 40.3 386.6 12.4 31.8 302.3 221.4 80.8 40.1 392.7 12.5 32.4 306.9 224.7 82.3 40.8 178.1 6.1 11.3 140.1 105.9 34.2 20.6 176.7 6.0 11.4 140.7 106.3 34.4 18.6 176.9 6.0 11.3 141.2 106.5 34.7 18.5 175.7 6.0 11.5 140.4 106.1 34.3 17.9 175.3 5.9 11.6 139.9 106.0 33.9 17.9 174.9 5.9 11.7 140.0 106.0 34.0 17.2 175.0 5.9 11.8 140.0 105.9 34.1 17.2 174.9 5.9 11.9 139.5 105.4 34.1 17.6 16 December 1982 SURVEY OF CURRENT BUSINESS Table 4.1-4.2—Foreign Transactions in the National Income and Product Accounts in Current and Constant Dollars Millions of dollars Billions of 1972 dollars Seasonally adjusted at annual rates 1980 1981 1981 II Receipts from foreigners Exports of goods and services Merchandise Durable goods Nondurable goods . . . Services Factor income ' Other Seasonally adjusted at annual rates 1982 III IV I 1980 II IIIr 1981 1981 1982 II III IV I II III' 340.4 368.4 370.0 368.3 369.0 359.9 365.8 349.5 339.2 220.1 128.9 91.1 367.3 231.9 134.4 97.4 368.9 236.0 140.1 95.9 367.2 226.3 133.2 93.1 367.9 227.8 130.1 97.8 359.9 221.4 123.9 97.5 365.8 218.9 123.9 95.0 349.5 207.3 121.0 86.3 159.2 93.1 56.1 36.9 158.5 89.8 51.8 38.0 159.7 91.7 54.7 37.1 157.8 87.0 50.3 36.6 156.9 87.6 48.6 39.0 151.7 84.0 45.2 38.8 154.4 83.5 44.8 38.7 147.5 79.8 43.7 36.1 119.2 75.2 44.0 135.5 86.1 49.4 132.9 84.2 48.7 140.8 89.6 51.3 140.1 89.5 50.6 138.5 85.9 52.6 146.8 93.8 53.0 142.2 88.4 53.8 66.1 42.6 23.5 68.7 44.5 24.2 68.0 44.0 24.0 70.9 45.9 25.0 69.3 44.8 24.5 67.7 42.5 25.1 70.9 45.9 25.0 67.7 42.7 24.9 1.2 1.1 1.1 1.1 1.1 0 0 0 Payments to foreigners 340.4 368.4 370.0 368.3 369.0 359.9 365.8 349.5 Imports of goods and services Merchandise Durable goods Nondurable goods 314.0 244.0 110.0 134.0 341.3 260.1 123.7 136.4 345.1 263.3 122.7 140.6 341.3 257.9 126.3 131.7 344.4 263.5 130.5 133.1 328.6 243.9 125.4 118.5 330.9 241.1 127.7 113.4 342.5 256.5 127.4 129.1 108.6 74.5 48.0 26.5 116.4 79.1 51.9 27.2 115.5 77.6 51.1 26.5 118.7 80.3 53.0 27.3 120.4 83.8 55.2 28.6 114.7 76.7 51.6 25.1 118.7 78.6 52.0 26.6 120.0 82.2 53.2 29.1 70.0 29.1 40.9 81.1 36.9 44.2 81.8 37.5 44.3 83.4 39.9 43.5 80.9 36.1 44.8 84.7 40.0 44.7 89.8 44.3 45.5 86.0 41.8 44.2 34.1 16.5 17.6 37.4 19.1 18.3 38.0 19.6 18.3 38.4 20.4 18.0 36.6 18.1 18.5 38.1 19.8 18.2 40.1 21.7 18.4 37.8 20.2 17.6 6.0 .8 5.2 6.3 .6 5.7 5.5 .8 4.8 6.7 .7 6.1 7.3 6^6 6.9 .8 6.0 6.7 .9 5.8 6.4 .8 5.6 12.5 16.7 17.0 17.1 17.1 17.9 17.4 7.8 4.1 2.3 3.1 .1 6.5 10.8 Capital grants received by the United States (net) Services Factor income 1 Other Transfer payments (net) From persons (net) From government (net) Interest paid by government to foreigners Net foreign investment 17.8 -17.3 Table 4.1-4-2: 1. Equals rest-of-the-world production as shown in tables 1.5-1.6. Table 4.3-4.4.—Merchandise Exports and Imports by Type of Product and by End-Use Category in Current and Constant Dollars Billions of 1972 dollars Billions of dollars Seasonally adjusted at annual rates Seasonally adjusted at annual rates 1980 II 1980 1982 1981 1981 III IV I II III 1981 1981 r II III 1982 IV I II IIIr 79.8 Merchandise exports 220.1 231.9 236.0 226.3 227.8 221.4 218.9 207.3 93.1 89.8 91.7 87.0 87.6 84.0 83.5 Foods feeds and beverages 35.7 38.3 38.7 34.9 35.7 36.0 36.6 29.0 15.2 15.5 15.1 14.6 15.7 15.7 16.4 13.7 Industrial supplies and materials Durable goods Nondurable goods 68.1 24.6 43.4 65.4 20.4 45.0 63.7 21.4 42.4 63.4 19.0 44.4 67.1 19.4 47.7 66.5 17.9 48.6 63.1 17.6 45.4 59.4 16.5 42.9 24.1 8.7 15.4 22.3 7.0 15.4 21.7 7.3 14.4 21.5 6.5 15.1 22.9 6.6 16.3 22.9 6.1 16.7 21.9 6.1 15.8 21.2 5.9 15.3 Capital goods except autos 74.2 81.7 84.4 80.9 80.8 77.4 77.1 74.2 34.9 32.9 34.5 31.8 31.2 29.0 28.6 27.3 Autos 17.2 19.1 20.5 20.2 16.8 17.3 17.9 17.7 6.9 6.7 7.3 6.9 5.5 5.6 5.7 5.6 Consumer goods Durable goods Nondurable goods 16.6 8.8 7.8 16.3 7.7 8.6 16.7 7.9 8.8 16.3 7.8 8.5 15.5 7.1 8.4 14.7 6.6 8.1 15.3 6.8 8.5 14.7 6.4 8.2 8.5 3.9 4.6 8.1 3.2 5.0 8.5 3.2 5.2 8.1 3.1 4.9 7.6 2.9 4.7 7.2 2.6 4.5 7.6 27 4.8 7.3 2.5 4.8 Other Durable goods Nondurable goods 8.2 4.1 4.1 11.1 5.5 5.5 12.0 6.0 6.0 10.7 5.4 5.4 11.9 5.9 5.9 9.5 4.8 4.8 8.9 4.4 4.4 12.4 6.2 6.2 3.5 1.7 1.7 4.3 2.1 2.1 4.7 2.3 2.3 4.1 2.1 2.1 4.6 2.3 2.3 3.6 1.8 1.8 3.4 1.7 1.7 4.8 2.4 2.4 82.2 . . . . •. Merchandise imports 244.0 260.1 263.3 257.9 263.5 243.9 241.1 256.5 74.5 79.1 77.6 80.3 83.8 76.7 78.6 Foods feeds and beverages 18.1 18.1 18.0 17.8 17.2 14.9 17.2 19.1 6.7 7.0 6.7 7.0 7.2 6.1 7.2 8.1 Industrial supplies and materials, excluding petroleum Durable goods Nondurable goods 50.0 29.1 20.9 56.3 33.3 23.0 56.8 34.4 22.4 57.8 34.4 23.4 56.8 33.2 23.6 54.1 31.7 22.4 51.2 29.1 22.2 50.6 27.0 23.6 17.1 9.9 7.1 19.0 11.2 7.8 19.0 11.5 7.5 19.5 11.6 7.9 19.4 11.3 8.1 18.3 10.7 7.6 17.7 10.0 7.7 17.9 9.5 8.4 Petroleum and products 79.4 77.6 83.2 72.6 72.4 62.6 53.7 65.8 6.9 6.0 6.2 5.7 5.8 5.0 4.5 5.5 30.3 34.6 33.2 35.1 37.3 35.1 36.4 36.6 15.4 18.0 17.1 18.6 20.1 17.9 18.2 19.1 Capital goods except autos ... Autos 27.0 29.7 29.9 30.8 31.4 30.6 35.7 37.3 10.9 10.3 10.6 10.7 10.4 9.8 11.6 11.8 Consumer goods Durable goods Nondurable goods 34.4 21.2 13.3 38.7 23.5 15.1 37.2 22.7 14.5 38.7 23.4 15.3 41.9 25.3 16.7 40.5 24.9 15.6 38.2 22.2 16.0 40.6 23.3 17.3 15.7 10.9 4.8 16.7 11.3 5.4 16.0 10.9 5.1 16.8 11.1 5.6 18.3 12.1 6.2 17.1 11.9 5.1 16.0 10.5 5.5 17.1 11.4 5.7 4.6 2.3 2.3 5.2 2.6 2.6 5.2 2.6 2.6 5.1 2.5 2.5 6.5 3.3 3.3 6.0 3.0 3.0 8.8 4.4 4.4 6.5 3.3 3.2 1.9 1.0 1.0 2.1 1.0 1.0 2.0 1.0 1.0 2.0 1.0 1.0 2.7 1.3 1.3 2.4 1.2 1.2 3.5 1.7 1.7 2.6 1.3 1.3 42.2 177.9 164.6 44.3 187.6 182.6 44.6 191.4 180.1 39.8 186.6 185.3 42.4 185.5 191.2 42.0 179.4 181.3 42.6 176.3 187.5 33.9 173.3 190.7 18.0 75.1 67.6 18.0 71.8 73.1 17.5 74.2 71.4 16.6 70.4 74.5 18.5 69.1 78.0 18.4 65.5 71.6 19.2 64.3 74.1 15.9 63.9 76.7 Other Durable goods Nondurable goods ... . Addenda: Exports: Agricultural products Nonagricultural products Imports of nonpetroleum products December 1982 SURVEY OF CURRENT BUSINESS Table 5.1.—Gross Saving and Investment 17 Table 5.10-5.11.—Inventories and Final Sales of Business in Current and Constant Dollars Billions of dollars Billions of dollars Seasonally adjusted at annual rates 1980 1981 1981 II III Seasonally adjusted quarterly totals 1982 IV I II Gross saving Gross private saving Personal saving Undistributed corporate profits with IVA and CCAdj Undistributed profits IVA CCAdj 477.5 482.4 490.0 476.3 428.8 441.5 422.4 438.3 106.2 504.7 130.2 488.9 122.0 513.4 134.4 547.7 158.6 519.4 139.1 529.0 144.3 546.1 152.0 38.9 44.4 42.0 43.9 44.3 31.6 99.7 46.1 85.8 82.2 84.0 76.9 -43.0 -24.6 -22.8 -23.0 -17.1 -4.4 -17.8 -16.8 -17.5 -17.1 -15.5 -10.1 Capital consumption allowances with CCAdj: Corporate Noncorporate Wage accruals less disbursements Government surplus or deficit (-), NIPA's Federal State and local Capital grants received United States (net) 406.2 30.7 34.8 47.0 48.8 -9.4 -10.3 -6.9 -3.8 181.2 112.0 206.2 123.9 202.9 122.1 209.7 125.5 216.0 128.7 218.9 129.8 223.4 130.5 227.5 131.9 0 0 0 0 0 0 0 0 -33.2 -28.2 -7.6 -24.5 -72.5 -90.7 -87.5 -i2a? -61.4 -60.0 -40.5 -58.0 -10L7 -118.4 -1196 -156.0 28.2 31.7 32.9 33.5 29.1 27.7 32.1 32.3 by the Gross investment Gross private domestic investment.. Net foreign investment Statistical discrepancy 1.2 1.1 1.1 1.1 1.1 0 0 0 426.0 410.2 475.6 477.8 489.1 469.0 421.3 422.3 402.3 7.8 471.5 4.1 475.5 2.3 486.0 3.1 468.9 .1 414.8 6.5 431.5 443.3 10.8 -17.3 -1.9 -4.6 -7.2 -7.5 3.9 -.8 .8 3.6 Table 5.8-5.9.—Change in Business Inventories by Industry in Current and Constant Dollars Seasonally adjusted at annual rates 1980 Change in tories 1981 1981 1982 I II III IV 24.6 31.8 13.2 -35.6 II nr business inven-10.0 Farm Nonfarm Change in book value IVA 1 Manufacturing Durable goods Nondurable goods Wholesale trade Durable goods Nondurable goods Merchant wholesalers Durable goods Nondurable goods Nonmerchant wholesalers Durable goods Nondurable goods Retail trade Durable goods Nondurable goods Other Durable goods Nondurable goods 20.5 -16.2 4.7 -4.3 5.5 5.3 7.2 7.2 .4 -1.2 -5.7 15.0 19.3 24.6 6.0 -36.0 -15.0 45.3 43.5 45.0 48.9 26.6 -30.5 -4.6 -51.1 -28.6 -25.7 -24.3 -20.5 -5.6 -10.4 1.0 3.7 14.8 -11.1 1.4 1.3 .1 .6 1.0 -.4 1.3 1.3 0 _7 -.3 -.5 -5.6 -5.4 -.2 -2.1 -2.1 0 6.0 4.4 1.7 2.8 2.7 .1 3.0 2.8 .3 -.2 0 -.2 6.5 2.6 3.8 -.3 -1.0 .7 5.0 3.6 1.5 3.1 4.3 -1.2 5.5 4.4 1.1 -2.4 -.1 -2.3 14.9 11.2 3.8 -3.7 -.5 -3.2 15.1 15.4 -.3 -1.6 2.8 -4.4 .6 1.7 -1.0 -2.2 1.1 -3.3 11.6 4.3 7.3 -.5 -2.7 2.2 -8.7 -17.8 -21.0 -12.6 -7.2 -14.8 -9.1 -8.5 -1.4 -3.0 -11.9 -4.2 10.4 -12.5 2.4 2.1 5.3 -6.6 -.7 3.8 3.1 -1.7 5.1 -5.8 10.9 -8.1 7.6 1.7 6.3 -5.1 0 4.6 4.6 -3.1 7.5 -3.0 -.5 -4.3 .4 -5.1 -1.0 -1.5 -.7 -.8 -4.4 .5 -2.8 1.3 1.7 -8.7 2.9 15.5 -8.6 3.2 14.8 -1.0 2.7 0 -.3 .7 2.7 .7 -1.3 2.9 -.1 -2.7 -.8 0 .7 -1.2 5.4 3.7 Billions of 1972 dollars Change in tories business inven- Farm Nonfarm Change in book value IVA 1 Manufacturing . . . Durable goods Nondurable goods Wholesale trade Durable goods . Nondurable goods Merchant wholesalers Durable goods Nondurable goods Nonmerchant wholesalers Durable goods Nondurable goods Retail trade Durable goods Nondurable goods Other Durable goods Nondurable goods 393-936 0 - 8 3 - 3 -5.0 9.0 12.1 16.5 4.8 -15.4 -4.4 3.4 — 2.1 -2.9 2.1 6.8 1.9 10.2 3.0 13.6 3.2 .2 1.6 -15.6 -.6 -3.8 .5 2.9 .9 1.0 -.1 .3 .4 i '.5 .6 -.1 -.2 2.6 1.9 .7 1.5 1.2 .3 1.5 1.2 .3 0 0 0 3.1 1.2 1.8 -.2 -.5 .2 2.1 1.8 .3 1.8 2.0 -.2 2.1 2.0 .1 -.3 0 -.3 7.0 5.5 1.6 -.8 -.2 -.6 7.6 6.5 1.0 1.1 1.4 -.3 1.0 .9 0 .1 .5 -.3 5.5 1.9 3.5 -.6 -1.2 .7 -7.3 -3.7 -3.7 1.8 _ 4 2^2 2.8 -.1 2.9 -1.0 -.3 -.7 1.3 1.4 -.1 .4 0 .4 -5.0 -3.6 -1.4 1.1 1.7 -.6 1.3 2.0 -.7 -.3 -.4 .1 7.1 6.8 .3 -.3 0 -.2 -!i^ -3.0 -3.0 0 -1.0 -1.0 0 -3.6 -3.1 -.5 4.5 2.3 2.2 4.8 2.7 2.1 -.3 -.4 .1 .6 -.4 1.0 .2 -1.2 1.4 -8.1 -6.5 -1.6 -4.5 -2.7 -1.9 -3.4 -2.0 -1.4 -1.1 -.7 -.5 -4.0 -4.2 2 i.'o -.3 1.4 III IV I II III' Inventories l Farm Nonfarm . . .. Durable goods Nondurable goods 804.2 86.5 717.7 406.3 311.5 814.3 81.5 732.8 418.5 314.2 822.4 81.8 740.5 421.8 318.8 809.7 84.5 725.2 412.3 312.9 812.5 86.4 726.1 413.0 313.1 816.0 83.5 732.5 419.2 313.4 Manufacturing Durable goods Nondurable goods 357.2 227.6 129.6 365.1 235.8 129.3 366.4 236.8 129.6 358.1 231.4 126.7 352.7 229.9 122.7 351.3 229.5 121.8 Wholesale trade Durable goods Nondurable goods Merchant wholesalers Durable goods Nondurable goods Nonmerchant wholesalers Durable goods Nondurable goods 158.1 98.2 59.8 126.0 82.6 43.5 32.0 15.7 16.3 159.5 100.7 58.8 127.4 84.6 42.8 32.1 16.2 16.0 163.0 103.0 60.0 130.8 86.9 43.9 32.2 16.1 16.1 158.4 101.5 56.9 128.5 85.9 42.6 29.9 15.6 14.3 160.8 102.0 58.8 131.7 86.5 45.2 29.1 15.5 13.6 161.9 104.0 57.9 132.5 88.6 43.9 29.4 15.4 14.0 Retail trade . . Durable goods Nondurable goods Other 134.2 61.3 72.9 68.3 139.1 63.6 75.5 69.1 140.7 64.1 76.6 70.5 137.6 61.8 75.8 71.1 140.2 63.3 77.0 72.4 145.6 67.8 77.7 73.7 203.3 128.1 208.5 130.6 210.4 130.7 213.8 132.2 215.5 132.1 217.1 131.2 3.96 3.53 3.91 3.51 3.91 3.52 3.79 3.39 3.77 3.37 3.76 3.37 5.60 5.61 5.67 5.48 5.50 5.58 Final sales 2 Final sales of goods and structures . Ratio* Inventories to final sales Nonfarm inventories to final sales Nonfarm inventories to final sales of goods and structures Billions of 1972 dollars Inventories l 342.3 346.4 347.6 343.7 342.6 343.5 41.7 300.6 182.9 117.6 42.4 304.0 185.1 118.9 43.2 304.4 184.5 119.9 43.3 300.5 181.0 119.4 43.1 299.5 180.4 119.1 43.3 300.2 181.6 118.6 147.5 100.9 46.6 149.4 102.5 46.8 148.4 101.8 46.7 146.4 100.1 46.3 144.6 99.2 45.4 143.3 98.3 45.0 Wholesale trade Durable goods Nondurable goods Merchant wholesalers Durable goods Nondurable goods Nonmerchant wholesalers Durable goods Nondurable goods 65.1 43.6 21.5 53.9 36.5 17.4 11.2 7.0 4.2 65.4 43.9 21.4 54.1 36.7 17.4 11.2 7.2 4.1 66.5 44.5 22.0 55.3 37.4 17.9 11.1 7.1 4.1 65.3 43.8 21.5 54.5 36.9 17.6 10.9 6.9 4.0 65.8 43.7 22.1 55.2 36.9 18.3 10.6 6.8 3.8 66.1 44.1 21.9 55.5 37.4 18.1 10.5 6.7 3.8 Retail trade Durable goods Nondurable goods Other 64.6 30.0 34.6 23.4 65.9 30.4 35.5 23.3 66.1 30.3 35.7 23.4 65.1 29.3 35.8 23.6 65.4 29.7 35.7 23.7 67.2 31.3 35.8 23.7 105.2 66.4 105.5 66.4 104.6 65.6 105.0 65.8 104.6 65.0 104.3 64.5 3.25 2.86 3.28 2.88 3.32 2.91 3.27 2.86 3.28 2.86 3.29 2.88 4.53 4.58 4.64 4.57 4.60 4.65 Farm Nonfarm Durable goods Nondurable goods Billions of dollars 1982 1981 III r II . Manufacturing Durable goods Nondurable goods . . .. Final sales 2 Final sales of goods and structures Ratio: Inventories to final sales Nonfarm inventories to final sales Nonfarm inventories to final sales of goods and structures Table 5.10-5.11: 1. Inventories are as of the end of the quarter. The quarter-to-quarter change in inventories calculated from current-dollar inventories in this table is not the current-dollar change in business inventories (CBI) component of GNP. The former is the difference between two inventory stocks, each valued at their respective end-of-quarter prices. The latter is the change in the physical volume of inventories valued at average prices of the quarter. In addition, changes calculated from this table are at quarter rates, whereas CBI is stated at annual rates. Quarter-to-quarter changes calculated from the constant-dollar inventories shown in this table are at quarterly rates, whereas the constant-dollar change in business inventories component of GNP is stated at annual rates. 2. Quarterly totals at monthly rates. Business final sales equals final sales less gross product of households and institutions, government, and rest-of-the-world and includes a small amount of final sales by farms. Table 5.8-5.9: 1. The IVA shown in this table differs from that which adjusts business income. The IVA in this table reflects the mix of methods (first-in-first-out, last-in-first-out, etc.) underlying book value inventories derived primarily from Census Bureau Statistics. The mix differs from that underlying business income derived primarily from Internal Revenue Service statistics. 18 SURVEY OF CURRENT BUSINESS Table 6.4.—National Income Without Capital Consumption Adjustment by Industry December 1982 Table 7.1.—Implicit Price Deflators for Gross National Product Index numbers, 1972-100 Billions of dollars Seasonally adjusted Seasonally adjusted at annual rates 1980 1981 1981 III II National income without CCAdj 1980 1982 IV nr II I 2,174.2 2,410.6 2,382.8 2,446.0 2,462.1 2,447.6 2,470.1 2,495.8 2,128.2 2,361.4 2,336.1 2,396.3 2,408.8 2,401.7 2,420.6 2,449.3 Private industries 1,822.0 2,025.4 2,004.3 2,059.0 2,060.9 2,048.6 2,062.6 2,086.6 Agriculture, forestry, and fisheries Mining Construction 58.5 37.4 108.5 68.7 44.9 113.4 66.5 40.9 112.3 72.7 47.0 112.8 71.6 49.0 113.4 66.1 49.3 112.9 66.6 45.5 112.8 66.5 42.9 112.9 Manufacturing Durable goods Nondurable goods 525.6 309.4 216.2 580.8 344.8 236.0 584.1 352.3 231.8 595.4 349.3 246.1 573.1 336.7 236.4 555.2 323.1 232.1 556.0 326.8 229.1 560.4 324.1 236.3 Transportation and public utilities Transportation Communication Electric, gas, and sanitary services 171.1 81.2 48.9 190.9 87.0 55.3 186.1 86.4 53.0 193.9 87.6 56.8 197.7 86.5 58.3 198.5 85.3 59.3 200.2 87.1 59.2 201.0 86.9 60.1 41.0 48.6 46.8 49.6 52.8 53.8 53.9 54.0 Wholesale trade Retail trade Finance, insurance, and real estate Services 137.4 178.3 155.8 197.5 152.7 196.0 156.0 201.6 162.9 199.1 157.3 203.6 154.6 205.7 155.4 209.1 295.5 309.9 324.2 349.4 320.8 344.8 326.2 353.4 331.5 362.7 336.4 369.3 345.0 376.1 352.7 385.6 Government and government enterprises 306.2 336.0 331.9 337.3 347.9 353.2 358.0 362.7 46.1 49.2 46.6 49.7 53.3 45.8 49.5 46.6 Gross national product Personal consumption expenditures Durable goods Nondurable goods Services 192.6 166.2 201.7 193.4 196.4 169.7 204.2 198.6 199.8 171.3 205.6 203.6 202.2 173.0 206.8 207.4 204.0 174.0 207.1 210.6 207.7 176.1 210.0 215.3 Gross private domestic investment 193.3 Fixed investment 186.1 Nonresidential 227.7 Structures Producers' durable equipment .. 169.0 Residential 218.5 221.7 Nonfarm structures 218.8 Farm structures Producers' durable equipment .. 149.2 Change in business inventories 208.0 201.3 251.5 179.8 233.6 237.1 236.9 159.4 207.4 200.7 249.1 179.9 231.7 234.9 233.4 158.3 209.4 203.0 252.7 181.4 235.8 239.4 237.9 161.3 212.9 206.8 261.9 182.5 239.2 243.3 242.7 162.8 213.6 207.6 264.5 181.9 240.5 244.3 243.8 165.7 216.6 211.3 267.6 184.6 238.6 242.1 242.0 168.1 216.2 210.7 266.7 183.8 238.8 242.3 241.9 169.4 Net exports of goods and services Exports Imports 213.1 289.3 231.8 293.1 230.9 298.7 232.6 287.7 234.5 286.1 237.3 286.4 236.8 278.8 236.9 285.4 Government purchases of goods and services Federal National defense Nondefense.. State and local 189.2 185.2 187.4 181.0 191.6 207.9 207.4 209.0 204.2 208.2 205.5 204.0 206.4 198.9 206.3 209.5 207.8 207.9 207.4 210.7 215.0 216.0 219.5 209.4 214.3 217.8 218.3 223.0 209.6 217.5 221.1 221.6 225.2 212.6 220.9 223.9 223.0 226.5 214.9 224.5 Table 7.2.—Fixed-Weighted Price Indexes, for Gross National Product, 1972 Weights Index numbers, 1972=100 Seasonally adjusted 1980 Corporate profits with IVA and CCAdj 1982 1981 III IV III r II I 181.6 190.6 185.1 193.1 183.9 157.1 155.4 166.2 151.3 28.3 123.0 30.3 167.8 22.2 145.6 22.8 164.3 22.2 142.1 20.8 172.2 20.3 151.8 21.0 158.3 20.1 138.2 25.7 140.2 19.9 120.3 16.9 137.2 22.4 114.8 18.2 149.9 24.7 125.3 16.3 199.4 207.5 202.6 210.3 199.4 167.2 162.2 170.0 169.1 184.6 181.7 189.3 173.7 150.3 144.1 153.7 Financial Federal Reserve Banks... Other 29.2 11.9 17.2 22.7 14.5 8.1 22.7 14.2 8.6 20.8 15.2 5.5 20.4 15.6 4.8 20.0 16.1 3.9 22.2 16.0 6.2 24.2 15.8 8.4 Nonfinancial Manufacturing Durable goods Primary metal industries Fabricated metal products Machinery, except electrical Electric and electronic equipment.. Motor vehicles and equipment Other 140.0 74.5 20.7 162.0 86.3 28.4 159.0 88.9 35.2 168.5 92.2 27.4 153.3 73.7 18.9 130.4 57.7 9.1 121.9 56.6 12.7 129.5 62.7 12.2 -3.1 -6.5 -5.4 Domestic industries Financial Nonfinancial Rest of the world Corporate with IVA profits Domestic industries Nondurable goods Food and kindred products Chemicals and allied products Petroleum and coal products Other Transportation and public utilities Wholesale and retail trade Other Rest of the world III r 194.5 167.5 202,7 196.3 2.9 4.1 4.7 4.1 .7 4.4 4.9 6.0 5.4 3.4 4.4 3.8 4.7 7.2 9.3 9.2 9.6 9.9 8.3 4.8 3.7 4.4 5.1 4.9 4.8 4.3 3.6 3.7 3.2 -5.0 6.8 -1.1 6.2 2.6 7.8 -2.8 6.3 -1.8 2.4 3.3 3.5 3.2 2.7 53.8 57.9 53.7 64.8 54.7 43.9 50.5 -4.1 0 48.6 6.2 8.7 8.5 7.7 8.1 6.7 6.3 7.0 6.7 8.2 7.5 8.0 7.8 6.5 5.8 5.1 28.0 13.0 26.6 14.4 23.3 14.4 35.1 14.1 24.7 14.1 25.4 10.0 20.4 11.4 25.9 12.5 17.4 19.1 15.6 19.6 21.2 18.8 18.5 19.2 24.6 23.4 33.4 23.1 32.1 22.5 33.0 23.7 35.7 22.7 31.9 21.9 26.8 20.0 27.4 20.3 30.3 22.8 20.8 21.0 25.7 16.9 18.2 16.3 1982 1981 1981 Seasonally adjusted at annual rates II II I 179.2 156.3 188.4 178.8 Billions of dollars 1981 IV III 178.64 195.51 193.17 197.36 201.55 203.68 205.98 208.51 Table 6.20.—Corporate Profits by Industry 1980 1982 1981 II Domestic industries Rest of the world 1981 II III IV I II IIP 184.4 202.0 199.9 204.2 208.4 210.8 213.0 216.0 184.8 160.4 195.8 183.0 202.1 172.9 212.8 202.1 200.2 171.5 212.1 199.2 203.9 175.1 214.0 204.5 207.5 177.4 215.9 209.9 209.9 179.0 217.2 213.8 211.6 181.0 216.4 217.6 215.4 182.6 219.7 222.6 Gross private domestic investment 204.1 Fixed investment 196.0 Nonresidential 219.3 Structures Producers' durable equipment .. 182.6 219.5 Residential Change in business inventories 220.9 213.5 237.3 199.8 235.0 219.0 211.7 235.0 198.3 233.0 223.2 215.6 239.4 201.9 237.5 226.8 219.3 243.0 205.6 241.2 229.2 222.0 245.7 208.4 242.7 230.4 225.0 248.6 211.5 240.7 232. b" 227.4 250.0 214.5 240.7 Gross national product Personal consumption expenditures Durable goods Nondurable goods Services Net exports of goods and services Exports Imports 218.6 303.7 239.3 319.0 238.4 323.4 241.1 316.3 242.5 314.0 245.6 319.1 246.3 313.6 245.2 313.6 Government purchases of goods and services Federal . . . National defense Nondefense State and local 193.8 192.7 196.5 182.8 194.6 212.2 214.7 219.7 201.7 210.6 210.3 212.2 217.4 198.8 209.0 213.6 214.5 219.6 201.6 212.9 219.3 223.9 230.1 207.9 216.1 222.4 227.1 233.4 211.0 219.2 224.5 228.4 234.6 212.6 221.9 227.2 230.1 236.3 214.2 225.2 Addenda: 189.8 Gross domestic purchases1 184.3 Final sales Final sales to domestic purchas189.8 ers * 207.2 202.0 205.3 199.8 209.0 204.2 213.0 208.4 215.6 210.9 217.3 213.0 220.4 216.1 207.2 205.4 209.0 213.0 215.6 217.4 220.5 208.8 207.3 210.6 211.7 215.3 217.3 218.4 361.9 348.9 364.1 Personal consumption expendi193.0 tures, food Personal consumption expendi316.1 tures energy Other personal consumption expenditures 170.3 Gross domestic product Business Nonfarm 184.4 185.6 1853 360.4 366.1 359.6 360.6 185.5 183.4 187.6 191.6 194.3 197.3 200.8 202.1 203.4 2033 199.9 201.2 204.2 205.7 208.5 209.4 210.9 211.8 213.0 213.8 216.1 216.8 Table 7.1 and 7.2: 1. Gross domestic purchases equals GNP less exports plus imports; final sales to domestic purchasers equals final sales less exports plus imports. December 1982 SURVEY OF CURRENT BUSINESS Table 7.3.—Implicit Price Deflators for Gross National Product by Major Type of Product 19 Table 7.7.—Current-Dollar Cost and Profit Per Unit of Constant-Dollar Gross Domestic Product of Nonfinancial Corporate Business Index numbers, 1972=100 Dollars Seasonally adjusted 1980 1981 1981 II Gross national product Final sales Change in business inventories III Seasonally adjusted 1982 IV I II 1980 1981 III r 178.64 195.51 193.17 197.36 201.55 203.68 205.98 208.51 178.7 195.3 193.1 197.4 201.3 204.0 206.5 208.7 171.0 187.0 185.0 188.9 191.5 191.8 193.5 194.8 Final sales Change in business inventories 171.2 186.4 184.7 188.8 190.9 192.7 194.6 195.1 Durable goods Final sales Change in business inventories Nondurable goods Final sales Change in business inventories 165.6 165.9 180.2 179.5 179.7 178.9 183.1 181.8 183.5 183.9 182.0 184.2 185.8 186.5 188.6 188.3 175.0 175.2 192.0 191.5 189.1 189.0 193.2 194.0 197.0 195.8 198.3 198.7 198.8 200.4 199.1 199.7 Goods Services 178.4 196.1 193.3 198.2 203.5 207.2 210.3 214.5 Structures 223.4 241.8 239.7 243.7 249.7 251.8 252.5 251.9 Addenda: Gross domestic purchases * 183.2 Final ! sales to domestic purchasers 183.3 199.3 197.4 200.9 205.0 206.7 208.7 212.0 199.2 197.4 200.9 204.8 207.0 209.2 212.1 1981 II III 1982 IV I II IIP Current-dollar cost and profit per unit of constant-dollar gross domestic product l 1.787 1.966 1.940 1.987 2.030 2.045 2.064 2.088 Capital consumption allowances with CCAdj.... Net domestic product Indirect business tax and nontax liability plus business transfer payments less subsidies Domestic income Compensation of employees Corporate profits with IVA and CCAdj Profits tax liability Profits after tax with IVA and CCAdj .... Net interest .200 .222 .218 .224 .236 .242 .247 .251 1.587 1.743 1.722 1.763 1.795 1.803 1.817 1.837 .173 .202 .202 .203 .208 .205 .211 .214 1.415 1.541 1.519 1.560 1.586 1.598 1.606 1.623 1.211 1.305 1.289 1.315 1.349 1.376 1.388 1.392 .143 075 .068 .061 .165 072 .093 .071 .161 069 .091 .069 .171 074 .097 .074 .159 063 .096 .078 .140 .045 .095 .082 .134 043 .091 .085 .146 049 .097 .085 Table 7.8.—Implicit Price Deflators for Auto Output Index numbers, 1972=100 Seasonally adjusted 1980 1981 Table 7.4—Implicit Price Deflators for Gross National Product by Sector II Auto output Gross national product 178.64 195.51 193.17 197.36 201.55 203.68 205.98 208.51 Gross domestic product Business Nonfarm Nonfarm less housing Housing Farm Statistical discrepancy 178.7 1788 1784 1805 1609 191.0 1788 195.5 1956 1955 1980 1748 197.4 1956 193.2 1933 1930 1954 1727 203.6 1933 197.4 1976 1977 2002 1765 195.8 1976 201.6 2014 2020 2046 1804 185.5 201 4 203.7 2033 203.7 2062 183.5 191.1 2033 206.0 2055 205.8 2082 185.9 197.1 2055 208.5 2079 208.4 2107 189.6 193.5 207.9 Households and institutions Private households Nonprofit institutions 186.6 1956 185.9 205.5 212 1 205.0 203.6 2097 203.1 207.8 2142 207.3 211.9 2184 211.4 216.1 2327 215.0 219.8 2294 219.1 224.8 231.8 224.3 1756 167.5 1794 192 1 185.7 1950 1896 182.1 1930 1926 182.8 1972 1996 196.7 2009 202.8 198.2 2049 205.7 198.6 209.0 208.7 199.0 213.2 176.7 1936 191 3 1954 199.5 201.8 204.3 206.9 Government Federal State and local . Rest of the world Addendum: Gross domestic business product 1804 less housing Less: Capital consumption allow- 1974 Truck output ' 178.64 195.51 193.17 197.36 201.55 203.68 205.98 208.51 1960 212 1 2099 2144 218.5 218.9 220.1 221.6 176.7 193.6 191.3 195.4 199.5 201.8 204.3 206.9 Less: Indirect business tax and nontax liability plus business transfer payments less subsidies plus current surplus of government enterprises . . . . 151.4 174.7 174.6 175.8 178.0 175.6 180.4 183.7 Statistical discrepancy 178.8 195.6 193.3 197.6 201.4 203.3 205.5 207.9 Equals* National income 179.8 1959 193.3 197.8 202.2 205.1 207.3 209.8 Equals: Net national product Table 7.7: 1. Equals the deflator for gross domestic product of nonfinancial corporate business with the decimal point shifted two places to the left. Table 7.8: 1. Consists of final sales and change in business inventories of new autos produced in the United States. 2. Consists of personal consumption expenditures, producers' durable equipment, and government purchases. Final sales Personal consumption expenditures Producers' durable equipment Net exports Exports Imports Government purchases Change in business inventories IV I II IIP 154.6 166.8 165.8 172.7 169.7 171.0 176.0 178.0 154.5 166.5 165.8 170.1 171.3 172.2 174.3 177.9 169.2 186.8 185.6 190.8 195.0 194.9 196.9 203.0 161.1 170.9 170.3 173.8 175.4 175.5 177.0 179.5 146.2 142.8 147.0 143.3 142.6 140.7 144.4 143.6 161.6 171.4 170.8 174.0 175.6 175.8 177.2 179.8 159.4 172.8 172.9 174.9 180.2 178.8 180.0 182.8 213.5 232.1 231.6 232.9 234.6 232.9 227.5 226.9 144.1 144.1 144.3 146.6 143.2 143.0 144.6 146.2 161.2 171.3 170.6 173.9 175.7 175.2 177.2 180.2 161.3 171.1 170.4 173.8 175.5 175.6 177.1 179.5 188.7 208.6 206.4 211.3 215.3 211.5 210.9 217.0 188.6 209.4 207.9 211.2 217.8 211.7 212.1 216.2 161.0 171.2 170.5 173.8 175.4 175.6 177.0 179.6 196.6 221.7 219.7 224.8 231.4 231.1 234.0 240.0 1950 219.7 217.6 224.2 228.9 231.1 233.4 2399 1764 1955 191 6 201 6 201 6 201 9 2104 2158 197.5 221.8 219.6 224.7 231.4 231.0 234.0 240.0 Table 7.11.—Implicit Price Deflators for Personal Consumption Expenditures by Major Type of Product Personal consumption expenditures 'fable 7.3: 1. Gross domestic purchases equals GNP less exports plus imports; final sales to domestic purchasers equals final sales less exports plus imports. Table 7.9: 1. Includes new trucks only. Addenda: Domestic output of new autos2 ' Sales of imported new autos III Table 7.9.—Implicit Price Deflators for Truck Output Table 7.5.—Implicit Price Deflators for the Relation of Gross National Product, Net National Product, and National Income Gross national product Final sales Personal consumption expenditures New autos. .. Net purchases of used autos Producers' durable equipment New autos Net purchases of used autos Net exports Exports Imports Government purchases Change in business inventories 1982 1981 179.2 194.5 192.6 196.4 199.8 202.2 204.0 207.7 Durable goods Motor vehicles and parts Furniture and household equipment Other . . . 156.3 1668 143.6 165.2 167.5 181 8 151.7 175.6 166.2 1806 150.9 1744 169.7 1852 152.9 1760 171.3 1880 154.4 179.0 173.0 1880 155.7 181.2 174.0 1898 156.8 180.7 176.1 1938 157.4 182.6 Nondurable goods Food Clothing and shoes Gasoline and oil Other nondurable goods Fuel oil and coal Other 188.4 1908 134.3 338.7 187.5 470.6 1707 202.7 2069 138.5 376.7 203.8 571.6 1854 201.7 2052 138.0 381.2 202.6 577.1 1839 204.2 2089 139.5 373.1 205.5 574.6 1870 205.6 210 1 139.7 378.5 208.5 580.7 1907 206.8 2134 140.2 363.9 210.7 568.5 1946 207.1 2158 140.8 335.9 214.1 544.1 1985 210.0 217 1 141.7 355.6 218.2 562.4 201 4 Services Housing Household operation Electricity and gas Other Transportation Other 178.8 166.7 181 6 238.1 146 1 1845 187 5 196.3 181.6 2032 270.9 160 1 201.9 2058 193.4 179.4 1989 265.2 157 1 199.2 2028 198.6 183.4 2073 277.7 1624 204.0 2080 203.6 187.8 2126 282.9 167 5 207.3 2137 207.4 191.1 219 1 293.4 1703 209.7 217 2 210.6 193.9 221 9 300.9 1734 2137 2206 215.3 198.1 2276 309.0 177 3 218.4 2256 20 SURVEY OF CURRENT BUSINESS Table 7.14B.—Implicit Price Deflators for Government Purchases of Goods and Services by Type December 1982 Table 7.17.—Implicit Price Deflators for Merchandise Exports and Imports by Type of Product and by End-Use Category Index numbers, 1972 = 100 Index numbers, 1972 = 100 Seasonally adjusted at annual rates 1980 1981 1981 II Government purchases of goods and services Federal National defense Durable goods Nondurable goods Services Compensation of employees . Military Civilian Other services Structures Nondefense Durable goods . Nondurable goods Services . Compensation of employees Other services. . Structures State and local Durable goods Nondurable goods Services., . Compensation of employees... Other services Structures 189.2 185.2 207.9 207.4 205.5 204.0 Seasonally adjusted at annual rates 1980 1982 III IV I II III r 209.5 215.0 217.8 221.1 223.9 207.8 216.0 218.3 221.6 223.0 187.4 183.5 437.2 175.7 209.0 203.5 486.9 196.5 206.4 201.1 495.9 192.4 207.9 205.6 488.8 194.9 219.5 212.6 503.0 207.5 223.0 216.4 479.5 210.8 225.2 225.4 472.2 211.5 226.5 227.0 484.4 213.0 165.3 161.0 171.4 197.0 203.8 185.3 184.8 186.0 217.9 221.5 180.9 178.7 184.0 215.6 219.5 181.5 179.3 184.7 220.3 224.2 198.5 203.1 192.0 223.4 227.5 199.6 203.5 194.0 232.7 231.4 200.0 203.6 194.8 231.7 235.4 200.4 203.8 195.5 233.9 233.8 181.0 174.2 204.2 194.0 198.9 190.0 207.4 196.7 209.4 202.9 209.6 206.3 212.6 209.8 214.9 213.7 176.6 193.3 191.0 193.3 199.5 202.6 203.9 205.4 171.5 183.9 208.3 186.5 203.4 222.6 184.4 200.7 221.0 185.3 205.1 224.5 193.1 209.0 227.8 195.3 213.4 230.5 196.0 216.7 231.8 196.4 219.9 232.6 191.6 183.0 238.6 183.8 179.4 197.7 220.8 208.2 200.5 265.3 201.0 195.0 219.5 230.3 206.3 199.0 266.1 198.8 193.0 216.5 229.8 210.7 202.6 267.7 203.7 197.2 223.9 231.7 214.3 206.0 269.5 207.7 200.9 229.0 232.3 217.5 206.5 270.5 211.6 204.9 232.3 233.6 220.9 208.4 269.6 215.8 209.0 236.9 232.8 224.5 210.9 272.3 220.0 213.2 241.1 232.1 Table 7.16.—-Implicit Price Deflators for Exports and Imports of Goods and Services Index numbers, 1972=100 1981 1981 II 1982 III IV I II IIP Merchandise exports 236.4 258.3 257.3 260.2 260.2 263.6 262.0 259.7 Foods, feeds, and beverages Industrial supplies and materials Durable goods Nondurable goods 235.0 246.9 256.2 239.1 228.0 228.6 223.3 212.2 282.9 282.9 282.8 293.2 293.2 293.2 293.4 293.5 293.4 294.2 294.2 294.2 292.6 292.5 292.6 291.0 291.0 291.0 287.8 287.8 287.8 280.7 280.8 280.7 Capital goods, except autos Autos Consumer goods Durable goods Nondurable goods Other Durable goods Nondurable goods 212.4 249.6 195.9 228.2 169.1 235.7 235.7 235.7 248.4 286.4 200.7 244.1 173.1 258.3 258.3 258.3 244.5 281.6 197.5 242.9 169.2 257.3 257.3 257.3 254.3 294.3 202.1 248.4 172.5 260.0 260.0 260.0 258.6 303.4 204.2 248.3 177.4 260.0 260.0 260.0 266.6 308.7 205.6 249.8 179.8 263.4 263.4 263.4 269.7 315.0 202.9 249.3 176.5 262.1 262.3 262.0 271.9 313.6 200.3 254.2 171.8 259.8 259.8 259.8 Merchandise imports 327.7 329.0 339.5 321.4 314.3 318.1 306.7 312.0 Foods, feeds, and beverages Industrial supplies and materials, excluding petroleum Durable goods Nondurable goods . Petroleum and products 270.1 259.3 268.2 254.4 238.2 243.4 239.4 235.2 293.1 296.8 299.7 296.4 293.5 296.1 290.1 282.7 293.0 296.9 300.0 297.0 293.7 296.6 290.4 284.4 293.3 296.7 299.3 295.7 293.2 295.5 289.7 280.9 1,155.4 1,297.1 1,348.8 1,267.9 1,246.8 1,248.2 1,181.0 1,195.7 Capital goods except autos Autos Consumer goods Durable goods Nondurable goods Other Durable goods. . Nondurable goods 197.5 248.5 219.7 195.1 275.2 243.5 243.4 243.6 191.9 288.0 231.3 208.3 279.3 249.2 249.2 249.2 193.7 282.7 232.1 208.4 282.2 252.0 252.0 252.0 189.3 288.2 231.0 210.5 271.4 248.4 248.2 248.6 185.4 303.3 228.8 209.1 266.9 244.8 244.9 244.6 195.5 311.0 237.4 209.0 303.2 252.5 252.5 252.5 200.0 307.7 239.0 211.5 291.6 252.9 252.8 253.1 191.5 315.5 236.9 204.1 302.2 248.1 247.9 248.3 Addenda: Exports: Agricultural products Nonagricultural products Imports of nonpetroleum products 234.3 236.9 246.3 261.3 254.3 258.0 239.3 265.2 229.1 268.5 227.8 273.7 222.0 274.0 212.8 271.4 243.5 249.8 252.3 248.6 245.0 253.0 253.1 248.6 Seasonally adjusted at annual rates 1980 1982 1981 1981 II III IV I II III r Exports of goods and services 213.1 231.8 230.9 232.6 234.5 237.3 236.8 236.9 Merchandise Durable goods . Nondurable goods 236.4 229.7 246.6 258.3 259.5 256.6 257.3 256.4 258.5 260.2 264.7 254.0 260.2 267.8 250.7 263.6 274.0 251.4 262.0 276.4 245.5 259.7 276.8 238.9 Services Factor income Other 180.3 176.4 187.4 197.3 193.7 203.8 195.4 191.3 203.0 198.8 195.4 205.0 202.1 199.5 206.6 204.7 201.8 209.5 207.2 204.3 212.5 210.1 206.9 215.7 Table 7.21.—Implicit Price Deflators for Inventories and Final Sales of Business Index numbers, 1972=100 Seasonally adjusted at annual rates 1980 1982 1981 1981 II III IV I II III r Imports of goods and services 289.3 293.1 298.7 287.7 286.1 286.4 278.8 285.4 Inventories 1 235.0 235.1 236.6 235.6 237.1 237.6 Merchandise Durable goods Nondurable goods 327.7 229.2 506.1 329.0 238.4 501.9 339.5 240.3 530.5 321.4 238.4 482.3 314.3 236.4 464.6 318.1 242.9 473.0 306.7 245.5 426.4 312.0 239.7 444.1 Services Factor income Other 205.4 176.6 232.4 217.1 193.6 241.7 215.5 191.2 241.5 217.2 195.4 242.0 221.3 199.5 242.5 222.5 201.8 245.0 224.1 204.2 247.5 227.5 206.9 251.2 Farm Nonfarm Durable goods Nondurable goods 207.5 238.8 222.1 264.8 192.1 241.1 226.1 264.3 189.3 243.3 228.6 265.9 195.3 241.4 227.7 262.0 200.4 242.4 229.0 262.8 193.1 244.0 230.8 264.1 242.2 225.5 278.4 244.4 229.9 276.2 246.8 232.6 277.7 244.6 231.1 273.8 243.9 231.7 270.6 245.1 233.5 270.6 Wholesale trade Durable goods . . Nondurable goods Merchant wholesalers Durable goods .. Nondurable goods Nonmerchant wholesalers Durable goods Nondurable goods 242.9 225.5 277.9 233.9 226.1 250.4 285.9 222.6 393.4 244.1 229.4 274.2 235.4 230.1 246.5 286.2 225.6 393.0 245.2 231.6 272.6 236.4 232.4 244.9 288.7 227.8 394.1 242.4 231.7 264.3 235.9 232.8 242.4 275.3 225.9 361.1 244.4 233.3 266.2 238.6 234.4 247.1 274.2 227.3 358.4 245.1 235.7 264.1 238.7 236.9 242.4 278.9 229.0 366.9 Retail trade Durable goods Nondurable goods Other 207.8 204.6 210.5 291.3 210.9 208.9 212.6 296.4 212.9 211.3 214.2 301.7 211.5 210.9 211.9 300.9 214.4 213.4 215.3 305.2 216.7 216.5 216.9 311.6 193.2 197.7 201.2 203.7 206.1 208.1 192.9 196.8 199.4 201.1 203.0 203.3 Table 7.21: 1. Inventories are as of the end of the quarter. 2. Business final sales equals final sales less gross product of households and institutions, government, and rest of the world. Manufacturing Durable goods Nondurable goods . . ... Final sales 2 Final sales of goods and structures SURVEY OF CURRENT BUSINESS December 1982 21 Table 8.1.—Percent Change From Preceding Period in Gross National Product in Current and Constant Dollars, Implicit Price Deflator, and Price Indexes Percent Percent at annual rates Percent Percent at annual rates Seasonally adjusted Seasonally adjusted II Gross national product: Current dollars 1972 dollars Implicit price deflator Chain price index .. Fixed- weighted price index •••• .... .... .... Personal consumption expenditures: Current dollars 1972 dollars Implicit price deflator Chain price index Fixed-weighted price index Durable goods: Current dollars 1972 dollars Implicit price deflators Chain price index Fixed-weighted price index Nondurable goods: Current dollars 1972 dollars Implicit price deflator Chain price index Fixed-weighted price index Services: Current dollars 1972 dollars Implicit price deflator Fixed- weigh ted price index Gross private domestic investment: Current dollars . .. 1972 dollars 8.9 11.6 -.4 1.9 9.3 9.4 9.0 9.4 9.9 9.6 5.3 -1.5 6.8 8.2 8.4 1980 1981 1982 1981 1980 1981 III IV 11.4 2.2 9.0 9.2 8.9 3.0 -5.3 8.8 8.4 8.5 II I -1.0 -5.1 4.3 5.0 4.8 6.8 2.1 4.6 4.6 4.1 Fixed-weighted price index 4.4 10.6 10.6 .3 1.8 -2.7 7.3 10.3 8.6 7.4 10.7 9.1 7.7 11.2 9.3 3.4 11.3 2.9 -3.3 7.0 8.2 7.2 8.0 7.1 7.6 7.6 2.5 5.0 5.2 4.8 6.1 2.5 3.5 3.6 3.2 8.1 .6 7.5 7.1 7.3 9.4 -10.5 2.2 -17.2 8.1 7.1 8.5 7.5 9.7 7.8 20.2 -17.9 10.7 -20.9 3.8 8.5 5.6 7.9 5.3 8.6 15.1 10.4 4.2 3.8 3.7 4.9 2.5 2.3 3.7 4.5 -.7 -5.4 5.0 3.1 3.6 .4 -6.9 7.8 8.4 8.5 11.7 .8 10.9 11.8 12.4 9.6 1.8 7.6 8.4 8.7 5.1 .1 4.9 5.5 5.5 12.8 11.7 2.4 1.7 10.2 9.8 10.5 10.1 10.8 10.4 8.3 .1 8.2 8.8 9.3 17.2 8.4 18.5 14.9 6.5 1.5 5.0 4.3 3.7 13.2 1.7 11.2 11.3 11.2 2.9 0 2.8 3.5 3.6 1.4 -1.0 2.4 2.9 2.4 3.2 2.6 .6 -.4 -1.4 7.3 1.5 5.6 5.9 6.2 10.3 0 10.3 10.7 11.0 11.0 3.0 7.8 7.6 7.6 8.7 2.4 6.2 6.9 7.3 11.2 1.7 9.3 9.1 9.4 17.2 15.0 11.4 7.9 -2.4 -7.6 5.6 3.7 2.2 -7.9 -7.2 -.8 3.0 2.8 -3.5 -5.3 -5.0 -11.8 7.4 1.5 5.5 5.6 5.6 5.1 -8.7 -7.6 -1.2 3.8 4.3 6.4 1.6 4.7 5.5 4.8 -6.4 -5.2 -1.2 2.6 2.3 9.2 -13.3 6.9 -22.6 3.0 6.8 -3.4 -1.0 4.0 10.5 7.5 8.0 7.7 7.8 1.3 -5.0 6.7 7.1 6.7 14.5 1.1 13.3 8.9 9.0 14.3 9.3 4.6 7.3 7.7 8.4 .6 7.8 7.3 7.0 12.5 17.4 27.3 6.3 12.4 -1.1 13.8 10.4 13.2 12.0 9.1 8.0 Fixed- weigh ted price index.... 11.9 8.2 7.0 Producers' durable equipment: 3.5 8.9 7.7 2.4 -3.3 -2.7 1972 dollars 6.4 6.4 11.4 Implicit price deflator 9.2 8.3 9.4 Chain price index 9.8 9.4 10.4 Fixed-weighted price index.... 19.1 12.6 5.8 8.6 7.8 22.3 5.9 15.5 8.6 6.1 Chain price index Nonresidential: Current dollars 1972 dollars Implicit price deflator Fixed-weighted price index Structures: .9 -6.9 8.3 9.9 10.1 9.4 1.7 7.6 8.2 8.2 6.5 12.0 3.5 -2.2 9.0 8.1 10.1 8.6 10.6 8.9 1972 dollars Implicit price deflator Residential: Current dollars 1972 dollars Implicit price deflator Chain price index Fixed-weighted price index Exports: Current dollars 1972 dollars Implicit price deflator Chain price deflator Imports: Current dollars 1972 dollars Implicit price deflator Chain price index Fixed-weighted price index -38.8 -36.5 .7 11.6 7.8 -1.7 2.4 3.4 6.6 6.6 7.5 7.5 -4.6 -6.0 1.5 4.9 4.2 5.3 1.3 4.0 5.2 4.4 -8.8 -12.4 -10.3 -7.6 -17.4 -8.8 6.0 -1.7 -1.3 5.7 5.7 4.6 5.7 5.5 6.1 1.7 -13.4 -27.0 -20.8 -13.0 -8.4 -20.2 -4.8 -17.4 -31.9 -25.3 -10.2 9.0 6.9 2.0 7.2 6.0 4.8 9.3 7.1 2.7 8.1 5.4 6.3 8.1 9.3 7.1 2.6 6.3 5.4 20.6 8.3 8.9 -.4 10.7 8.8 10.6 9.5 10.9 9.5 17.1 -.4 17.5 25.3 24.2 .8 -8.4 3.9 -1.8 1.0 -4.7 -2.4 -12.7 4.9 3.2 3.0 2.9 5.1 4.7 2.8 4.8 4.7 5.1 2.4 5.2 8.7 13.8 7.2 16.8 1.3 -2.6 6.1 8 5.0 1.0 -4.3 11.3 -14.0 -7.1 -8.4 9.4 12.9 -3.1 -3.1 -3.4 -4.9 -5.3 .3 .2 .1 6.7 -16.7 7.5 -16.8 .2 -.8 1.2 -1.2 1.2 -1.7 2.8 3.7 -17.1 14.5 6.0 -17.5 .5 -10.2 -2.2 8.4 -4.3 -1.8 6.7 -6.7 -3.0 3.6 13.5 10.9 2.3 .9 -4.1 8.0 11.0 9.9 8.9 10.9 9.5 8.5 11.9 9.5 12.2 3.6 8.2 7.2 6.5 18.6 7.0 10.8 11.3 11.1 2.4 -2.9 5.5 6.3 5.8 .6 -5.3 6.2 5.1 4.0 13.8 8.4 5.0 5.3 4.7 17.1 4.2 12.4 11.6 13.7 2.2 16.1 3.7 -3.2 12.0 5.6 7.3 10.6 11.4 8.0 23.5 14.8 7.6 4.8 4.6 40.7 20.4 16.8 18.3 18.6 -1.4 -8.3 -5.5 -13.5 4.4 6.1 6.4 3.3 5.9 2.3 26.3 23.1 2.5 3.3 3.1 17.5 4.0 12.9 12.1 14.5 17.0 4.9 11.5 11.5 11.8 22.1 11.5 9.6 9.6 11.3 10.8 7.6 3.0 5.4 4.2 36.7 10.1 24.2 20.5 20.6 -1.8 -7.9 6.5 7.5 5.8 26.4 21.4 4.1 3.3 2.0 15.6 13.0 2.3 3.5 3.0 16.5 14.3 -29.3 4.6 1.3 -27.4 11.3 12.8 -2.7 2.9 10.7 8.8 11.5 10.3 -.6 55.7 31.6 18.3 3.5 5.7 49.0 43.6 3.8 14.0 13.1 '.5 4.3 6.2 -55.7 -58.1 5.8 3.3 3.1 57.3 50.7 4.3 3.0 3.1 4.4 11.5 7.9 1.1 -.8 -4.6 9.4 10.3 8.7 9.8 10.5 8.8 8.9 10.8 8.2 5.7 -2.7 8.7 8.7 7.8 6.2 -.8 7.0 7.0 6.2 5.0 -1.1 6.2 6.2 5.7 6.7 .4 6.3 6.2 5.2 6.5 -.2 6.7 6.6 5.9 11.1 3.7 7.2 7.7 7.4 3.4 -4.7 8.5 7.9 7.8 -2.1 -5.3 3.5 5.4 4.9 6.4 2.5 3.8 4.0 3.2 9.8 3.1 6.5 6.1 5.9 I II IIP Federal: 1972 dollars Implicit price deflator Chain price index Fixed-weighted price index National defense: Current dollars 1972 dollars Implicit price deflator Fixed- weigh ted price index Nondefense: 1972 dollars Implicit price deflator Fixed-weighted price index State and local: Current dollars 1972 dollars Implicit price deflator Chain price index Fixed-weighted price index Gross domestic purchases: Current dollars 1972 dollars Implicit price deflator Chain price index Fixed-weighted price index 8.5 11.6 -1.3 2.6 9.9 8.8 10.6 9.0 11.1 9.1 6.4 -.4 6.9 7.8 7.9 Final sales: Current dollars 1972 dollars Implicit price deflator Chain price index Fixed-weighted price index 10.0 10.4 3.5 .5 1.0 -4.0 7.8 9.5 9.3 8.3 9.0 9.4 8.4 9.9 9.6 10.4 5.7 1.0 -2.3 9.3 8.1 9.3 8.5 8.9 8.6 5.6 .2 5.4 5.0 4.8 4.1 -.9 5.0 4.5 4.1 2.9 -1.3 4.3 6.0 6.0 Final sales to domestic purchasers: Current dollars 1972 dollars Implicit price deflator Chain price index Fixed-weighted price index 9.5 10.4 -.5 1.6 10.0 8.7 10.6 9.0 11.2 9.2 4.6 -3.1 7.9 7.8 7.9 10.1 6.1 2.5 -1.6 7.5 7.8 7.8 8.0 7.4 7.9 4.6 .1 4.5 5.4 4.9 3.6 -.6 4.2 3.9 3.2 6.8 .9 5.8 6.1 6.0 Gross domestic product: Current dollars 1972 dollars Implicit price deflator Chain price index Fixed-weighted price index 5.4 8.9 11.7 -.4 2.0 -1.3 9.3 9.4 6.8 9.0 9.4 8.2 8.4 9.9 9.6 11.1 2.6 2.0 -5.7 9.0 8.8 9.2 8.4 8.9 8.5 0 -4.1 4.3 5.0 4.8 6.4 1.7 4.6 4.6 4.1 6.3 1.2 5.0 6.0 5.9 8.6 11.8 _ 7 2.2 9^4 9.4 9.0 9.4 10.1 9.6 5.1 -1.5 6.7 8.4 8.6 11.9 .7 2.4 -6.7 9.3 8.0 9.6 7.6 9.3 7.4 -.1.3 -4.9 3.8 4.7 4.4 6.4 2.0 4.3 4.3 3.8 6.4 1.6 4.7 5.9 5.9 9.0 12.0 -1.0 2.2 10.0 9.6 9.5 9.6 10.6 9.7 6.4 -.6 7.1 10.4 2.1 .3 -6.4 10.1 9.1 -.4 -3.7 3.5 4.8 .7 4.1 5.9 .7 5.1 10.5 11.2 .2 2.5 7.9 .6 13.4 4.8 3.0 -1.9 6.7 3.1 8.9 1.3 Business: Current dollars 1972 dollars Implicit price deflator Chain price index Fixed-weighted price index Nonfarm: Current dollars 1972 dollars Implicit price deflator Chain price index Fixed-weighted price index Disposable personal income: Current dollars 1972 dollars 8.3 1.2 14.8 4.6 9.8 -1.1 0 NOTE.— The implicit price deflator for GNP is a weighted average of the detailed price indexes used in the deflation of GNP. In each period, the weights are based on the composition of conlor each item (1972 (iy/z = 100) lUU) is stant-dollar output in that period. In other words, the price index for weighted by the ratio of the quantity of the item valued in 1972 prices to the total output in 1972 prices. Changes in the implicit price deflator reflect both changes in prices and changes in the IV Addenda: -4.9 -11.8 f"h 'nde Fixed-weighted price index Fixed investment: Current dollars 1972 dollars Government purchases of goods and services: Current dollars 1972 dollars Implicit price deflator 1982 III II III' 5.8 .7 5.0 6.0 5.9 1981 composition of output. The chain price index uses as weights the composition of output in the prior period, and therefore reflects only the change in prices between the two periods. However, comparisons of percent changes in the chain index also reflect changes in the composition of nges i 22 December 1982 SURVEY OF CURRENT BUSINESS Reconciliation and Other Special Tables Table 1.—Relation of Net Exports of Goods and Services in the National Income and Products Accounts (NIPA's) to Balance on Goods and Services in the Balance of Payments Accounts (BPA's) Table 2.—Real Gross National Product and National Income, Command Over Goods and Services, and Related Series [Billions of 1972 dollars] [Billions of dollars, seasonally adjusted at annual rates] Exports of goods and services, BPA's Less: Gold BPA's Capital gains net of losses in direct investment income receipts Statistical differences l Other items . Equals: Exports of goods and services, NIPA's . Imports of goods and services, BPA's . Less: Payments of income on U.S. Government liabilities .. Gold, BPA's .. Capital gains net of losses in direct investment income payments Statistical differences l Other items Plus: Gold NIPA's Equals: Imports of goods and services, NIPA's Balance on goods and services, BPA's 1-7 Less: Gold (2-9 + 13) Capital gains net of losses in direct investment income (3-10) Statistical differences (4-11) Other items (5-12) Plus: Payments of income on U.S. Government liabilities (8) Equals: Net exports of goods and services, NIPA's (6-14).... Seasonally adjusted at annual rates 1982 L- 1980 I II III 1 2 3608 17 3651 14 3522 23 3 4 5 6 21 2 1i 3599 28 1 5 3658 1 1 4 3495 7 8 9 3483 17.9 30 3492 17.4 26 3625 17.8 39 10 11 12 13 14 5 5 6 10 2 10 2 328.6 1 330.9 6 342.5 15 16 125 1i 159 10 103 10 17 18 19 -1.6 7 1i -21 1l 5 1 1i 4 20 21 179 31.3 174 34.9 17 8 6.9 III 1. Consists of statistical revisions in the BPA's that have not yet been incorporated in the NIPA's 1982 1981 1981 IV I II III 1,474.0 1,502.6 1,510.4 1,490.1 1,470.7 1,478.4 1,481.1 GNP 1,423.4 1,460.6 1,471.2 1,453.6 1,433.8 1,442.6 1,453.7 Gross domestic purchases 35.7 36.9 27.5 39.2 36.5 42.0 50.6 Net exports of goods and services . 1,177.6 1,200.8 1,207.0 1,189.2 1,168.5 1,170.1 1,170.5 National income 1,432.1 1,469.5 1,480.2 1,461.8 1,444.7 1,455.1 1,456.1 Command, GNP basis 1,423.4 1,460.6 1,471.2 1,453.6 1,433.8 1,442.6 1,453.7 Gross domestic purchases Net exports of goods and serv2.4 8.2 10.9 12.5 9.0 8.9 8.7 ices * Command, national income basis.... 1,140.4 1,171.2 1,180.1 1,164.0 1,145.4 1,149.5 1,148.2 Percent change from preceding period GNP Command GNP basis Command, national income basis Addendum: -.4 -1.1 -1.4 -2.2 1.9 2.6 2.0 2.7 2.2 3.9 1.5 3.4 -5.3 -4.9 -5.8 -5.3 -5.1 -4.6 6.8 -6.2 2.1 2.9 .6 1.5 .7 .3 .1 -.5 73.7 79.1 80.9 82.0 82.9 85.0 83.0 1. Equals current-dollar net exports of goods and services deflated by the implicit price deflator for imports of goods and services. 2. Equals the ratio of the implicit price deflator for exports of goods and services to the implicit price deflator for imports of goods and services. By FRANK DE LEEUW Inventory Investment and Economic Instability I NVENTORY investment—the difference between production and final sales—can be either a stabilizing or a destabilizing factor in economic fluctuations. For example, if a drop in final sales leads to an involuntary accumulation of inventories of finished goods, then inventory investment is playing a stabilizing role, because production has fallen less than sales have fallen. But if the lower level of final sales persists and the swollen level of inventories is deliberately reduced by driving production below sales, then inventory investment is playing a destabilizing role. As has often been documented, inventory investment has usually been destabilizing. This article measures the extent to which various categories of inventories have been destabilizing and, for manufacturers' inventories, explains the destabilizing behavior in terms of the contributions of factors that influence inventory investment. The article makes intensive use of the estimates of constant-dollar manufacturers' inventories by stage of fabrication introduced by BEA as part of the 1980 comprehensive revisions of the national income and product accounts.1 The new estimates are built up from separate estimates of inventories of materials, goods in process, and finished goods in each of 20 manufacturing industries. This article explores some aspects of what the new estimates tell about the behavior of inventories. The first section of the article develops a statistical measure of the extent to which inventory investment contributes to economic instability. 1. The new estimates are described in John C. Hinrichs and Anthony D. Eckman, "Constant-Dollar Manufacturers' Inventories," SURVEY OF CURRENT BUSINESS 61 (November 1981): 16-23. The measure is presented for total inventory investment, and for inventory investment at different stages of the production process and at different cyclical stages. The second section presents demand equations for manufacturers' inventory holdings by stage of fabrication; these equations permit further analysis of the destabilizing behavior by measuring separately the contribution of various influences— sales, new orders, and the financial cost of holding inventories—on inventory investment. The final section presents simulations of manufacturers' inventory behavior under different demand and cost conditions. The analysis indicates that manufacturing inventory investment in total is destabilizing. However, the extent to which it is destabilizing differs substantially by stage of fabrication. For finished goods inventory investment, neither stabilizing nor destabilizing behavior dominates; in the early stages of cyclical fluctuations, inventory behavior tends to be stabilizing, but in later stages, it is mixed. Investment in both work-in-process inventories and materials inventories is destabilizing, and this behavior is apparent at all stages of cyclical fluctuation. Inventories in all three stages of fabrication respond positively to levels of demand, as measured by sales and new orders, and negatively to the financial cost of holding inventories. The finding of a response to the latter, as measured by a real rate of interest, contrasts with the findings of much previous analysis. The contrast in findings, at least in part, is due to the inclusion in the sample period used for this article of the wide swings in real interest rates of the 1970's. The response to demand is stronger for work-in-process and ma- terials inventories than for finished goods inventories, and this difference accounts, at least in part, for the difference in stabilizing/destabilizing behavior. The Contribution of Inventory Investment to Instability The measure proposed in this article is an answer to the question: How much more instability is there in production than in final sales? The measure can be calculated for total inventory investment, for inventory investment by stage of fabrication and by industry, for expansions and contractions, and for many other groupings of inventory estimates. The measure is the percent difference between two measures of dispersion. One of the two is the root-meansquare (i.e., the square root of the mean squared value) of the percentage deviation of final sales of goods and structures (in 1972 dollars) from its trend. The other is the root-meansquare of the percentage deviation of final sales plus inventory change— i.e., production—from its trend. If sales relative to its trend has a rootmean-square deviation of 2.4 percent and sales plus inventory change relative to its trend has root-mean-square deviation of 3.0 percent, then the measure equals 25, the 25 percent excess of 3.0 over 2.4. (As will be seen, these are the actual figures in the calculation for total inventory change in 1959-81.) The measure is always positive if inventory change is destabilizing. If some category of inventory change has a stabilizing influence, so that the deviation from trend of sales plus that category of inventory 23 24 SURVEY OF CURRENT BUSINESS change is smaller than the deviation of sales alone, then the measure will be negative.2 In mathematical terms, the measure (M) is: V Ss where Sq is the square root of the mean square percent deviation from trend of constant-dollar final sales of goods and structures plus inventory change, and Ss is the square root of the mean square percent deviation from trend of final sales of goods and structures. The sales trend is a centered 21-quarter moving average of actual sales.3 The trend of inventory 2. The possibility of negative values points to the difference between the measure of instability used in this article and a measure based on an analysis of the variance of output by component, often used by others (see, for example, Alan Blinder, "Retail Inventory Behavior and Business Fluctuations, "Brookings Papers on Economic Activity, No. 2 (1981) pp. 445-9). In an analysis of variance, inventory investment will make a positive contribution to total variance irrespective of whether it is stabilizing or destabilizing; only the covariance terms can discriminate between the two situations. The measure used here depends on both the variance of inventory investment and the covariance of inventory investment and sales. 3. The trend was extended to the end of 1981 by using an autoregressive equation to project changes in sales and then using projected sales to calculate the moving average. The autoregressive equation was A LSt=0.0049+0.2429 A LSt-i, where A LS is the change from the preceding quarter in the logarithm of sales. December 1982 change is equal to the sales trend the measure should be useful to foretimes the ratio of mean 1959-81 in- casters in judging whether a set of ventory change to mean 1959-81 sales and inventory investment prosales, and the trend of sales plus in- jections conforms to, or departs from, ventory change is equal to the sum of the usual historical relation of inventhe sales trend and the inventory tory investment to sales. The measure change trend. Sales, and thus &, is should also be useful to builders of identical in calculation of the meas- models of the economy in judging ures for total inventories and for in- whether shocks imposed on their ventory categories. In contrast, actual models produce sales and inventory and mep.n inventory change, and thus investment outcomes that are realisthe trend of inventory change and SQ, tic. is specific to the inventory total or Results categories.4 For major inventory categories.— The measure is a descriptive one, influenced by all of the forces that Table 1 presents the measure for affect inventories and final sales. It major categories of inventories for does not separate, for example, "invol- 1959-81 and two subperiods. For the untary" from "voluntary" inventory entire period, production was 25 perinvestment, or "passive" from cent more unstable than final sales. "active" inventory behavior. However, The root-mean-square deviation from trend was 3.01 percent for production and 2.42 percent for sales. Chart 7 4. It would be possible to construct an alternative shows the two time series underlying measure in which sales as well as inventory change differed by category. If S's is the root-mean-square per- this measure: the percentage devicent deviation from trend of some alternative sales ation of final sales relative to its series, then the relation between Af, the measure of instability employing the alternative sales series, and trend and the percentage deviation of M, the measure of instability used in this article, is production, or sales plus inventory given by: change, relative to its trend. M' + lOO _ S For the period as a whole, farm inM+100 ~ SV The alternative measure is less useful than the one ventories contributed little to the in this article for decomposing an aggregate measure overall destabilizing effect, and within into the contribution of different inventory categories; but it might be more useful for an analysis of inven- the nonfarm group, manufacturing tory investment in a specific industry. contributed most. Within manufacturs CHART 7 Final Sales and Production: Percentage Deviations From Trends, 1959-81 - 1959 60 61 62 Note.—Final sales refers to final sales of goods and structures, in 1972 dollars. Production refers to final sales of goods and structures plus inventory change, in 1972 dollars. Percentage deviations ; based on 21 quarter moving averages. U.S. Department of Commerce, Bureau of Economic Analysis -5 -10 SURVEY OF CURRENT BUSINESS December 1982 Table 1.—A Measure of the Contribution of Inventory Investment to Instability, 1959-81 and Subperiods [Percent] Inventory category Total Farm Nonfarm Manufacturing Finished goods Work in process Materials 1959:21981:4 1959:21970:2 1970:31981:4 25 35 22 1 -1 2 24 13 -1 8 6 36 18 3 8 5 20 12 _2 7 6 Wholesale trade 2 3 2 Retail trade 5 11 4 Other 1 0 2 Root-mean-square percent deviation of sales from trend (Ss) 2.42 1.60 3.01 Root-mean-square percent deviation of production from trend (S ) 301 2 15 366 NOTE.—The measure presented is equal to 100 (Sq-Ss)/Ss, where Sq is the root-mean-square deviation of final sales of goods and structures plus inventory change from its trend and Ss is the root-mean-square percent deviation of final sales of goods and structures from its trend. Sales and inventory change are measured in constant dollars. See text for further description, and see footnote 5 for discussion of additivity of the measure. ing, inventory investment in finished goods was slightly stabilizing. Investment in work in process 5and in materials were destabilizing. That they were destabilizing does not necessarily mean that inventory levels moved differently from final sales or from production; even if the level of inventories at some stage were perfectly proportional to production, inventory investment—the change in the level— could easily be destabilizing. Inventory investment was more destabilizing in 1959-70 than in 197081. Both sales and production fluctuated less in 1959-70 than in 1970-81; but the percentage difference between the two was larger in the first subperiod. Manufacturing inventory investment was the most destabilizing nonfarm component in both subperiods. Within manufacturing, inventories of finished goods were destabilizing during the first subperiod but stabilizing in the second; the other stages were destabilizing in both subperiods. Retail inventory investment was also destabilizing, but more so in the first subperiod than the second. These results are moderately sensitive to the choice of a trend line for final sales. For a 17-quarter average (instead of a 21-quarter average), results are much the same. For a 5quarter average, results are still similar for the entire 1959-81 period but are different for subperiods. By cyclical stage.—The measure can be disaggregated by cyclical stage. For runs of deviations—positive or negative—of final sales from trend, the quarters are grouped into an early stage (first three quarters of a deviation), a middle stage (fourth through sixth quarters), and a late stage (seventh quarter and later), and the measure calculated for the observations of these stages. The resulting measures can be used to investigate whether inventory investment is more destabilizing in the early, middle, or late stages. Table 2 shows large differences in the measure of instability disaggregated in this way. For total inventory investment the measure of instability is 39 in the early stage of a deviation from trend, but only 24 in the middle stage and still smaller in the late stage. The same pattern holds true for the retail component, which has a destabilizing measure of 16 for the early stage but only 5 for the middle stage, and —4 in the late stage. In contrast, the manufacturing component destabilizes by about the same amount in each stage. Finished manufacturing inventories are stabilizing in the early stages; i.e., they tend to be reduced early in an expansion or increased early in a cyclical contraction. In later stages, however, finished goods inventories have very little impact. Inventories of work in process are destabilizing at all stages but more strongly in the early stage. Materials inventories are moderately destabilizing at all stages. Table 2.—A Measure of the Contribution of Inventory Investment to Instability, by Stage of Deviations of Final Sales From Trend, 1959-81 To analyze the manufacturing results more thoroughly, it is helpful to estimate demand equations relating manufacturers' inventory holdings to measures of demand and cost. With these equations it is possible to explain, at least in part, the destabilizing or stabilizing behavior of manufacturers' inventory investment in terms of the contributions of current and lagged demand and cost variables. Theories of inventory behavior suggest that inventory holdings ought to depend on the level of demand and on the cost of holding inventories.6 The response to a change in demand—usually measured by sales or new orders—depends on whether the change is accompanied by a parallel change in the number of establish- [Percent] Stage Inventory category Total Farm Nonfarm Manufacturing Finished goods Work in process Materials Middle (4th through 6th quarters); 25 observations observations 39 24 10 1 0 4 38 11 5 10 4 24 15 1 8 7 6 11 1 5 6 0 ters); qc 2 3 5 4 6 1 _2 Root-mean-square percent deviation of sales from trend (Ss) 2.06 3.30 1.90 Root-mean-square percent deviation of production from trend (Sq) 2.86 4.09 2.08 Other 393-936 0 - 8 3 - 4 Late (7th _„ j later Early (first three quarters); 31 observations 16 Wholesale trade Retail trade 5. If inventory investment in different stages were uncorrelated with one another, then the squares of the measures in table 1 would be additive; that is, the square of the measure for total inventories would equal the sum of the squares of the measures for farm and nonfarm inventories, and the square of the measure for manufacturing would equal the sum of the squares of the measures for the three stages of fabrication. Because inventory investment in different stages is correlated and because the measure is not squared, values shown in the table are not additive. They are close enough to additive, however, to permit an accounting for totals in terms of parts. 25 NOTES.—For description of the measure, see text and note to table 1. For runs of deviations—positive or negative—of final sales from trend, the quarters are grouped into early, middle, and late stages, and the measure calculated for the observations in these stages. A one-quarter interruption (e.g., one negative deviation surrounded by positive deviations) is not defined as ending a run. Inventory Demand Equations by Stage of Fabrication 6. See for example, Kenneth J. Arrow, Samuel Karlin, and Herbert Scarf, Studies in the Mathematical Theory of Inventory and Production (Stanford: University Press, 1958); Michael Lovell, "Manufacturers' Inventories, Sales Expectations, and the Acceleration Principle," Econometrica 29 (July 1961): 293-314; Charles C. Holt, Franco Modigliani, John Muth, and Herbert Simon, Planning Production, Inventories and Work Force (Englewood Cliffs, NJ: Prentice Hall, 1960); and Blinder, "Retail Inventory Behavior," pp. 443-520. 26 ments doing business, or whether it represents a change in the amount of activity within the typical establishment. In the former case, almost any theory would imply an elasticity with respect to sales or orders close to 1.0—that is, a proportional response of inventories to a change in sales or orders, at least after a suitable timelag. In the latter case, however, some theories imply that within an establishment economies of scale permit a less-than-proportional response of inventories to sales. One strand of the operations research literature emphasizes a "square-root rule" in which the elasticity of inventories with respect to sales or orders is 0.5. Thus, elasticities of inventory holdings with respect to sales or orders in the range of 0.5 to 1.0 appear theoretically plausible. Most empirical studies of inventory holdings have found that there are sizable lags in the adjustment of inventories to a change in sales or orders. Theories often allow for a short period in which inventories, especially inventories of finished goods, move in the opposite direction to changes in demand, due to the bufferstock role of inventories. But apart from this initial "involuntary" response, there is little explanation in the theoretical literature for the widespread empirical conclusion that inventories may take as long as a year or two to adjust to a change in the level of sales or new orders.7 Although in theory, the cost of holding inventories is an important influence on demand, empirical work has usually been unsuccessful in uncovering a cost influence.8 Most of this work has emphasized a single element of cost, the interest rate on borrowed funds. There are, in fact, many other cost elements to be taken into account—the cost of physical storage, deterioration and obsolesence, insurance, taxes, and—most importantly in 7. In some empirical work, this lag is referred to as a slow speed of adjustment; in other work, as a slowly changing inventory "target." The problem of finding a theoretical explanation is much the same in either case. For discussion of the problem, see Blinder, "Retail Inventory Behavior," and Martin Feldstein and Allan Auerbach, "Inventory Behavior in Durable Goods Manufacturing: the Target-Adjustment Model," Brookings Papers on Economic Activity, No. 2 (1976) pp. 351-96. 8. F. Owen Irvine, Jr., "Retail Inventory Investment and the Cost of Capital," American Economic Review 71 (September 1981): pp. 633-48, is a conspicuous recent exception. SURVEY OF CURRENT BUSINESS recent years—expected changes in prices during the inventory holding period. A sufficiently high rate of increase in price can make the carrying costs of inventories negative rather than positive. The composite cost variable in this article, a real interest rate adjusted for the tax treatment of inventories, is a more comprehensive measure than the usual one. Even this measure, however, omits such cost elements as storage, insurance, and deterioration. Problems of measurement are unusually severe for inventories and for real interest rates. For inventories, the problems are least serious for annual estimates, more serious for quarterly estimates, and most serious of all for monthly estimates, especially for seasonally adjusted, constantdollar estimates. Seasonal adjustment is one example of an imperfect procedure that has far more impact on quarterly and monthly estimates than on annual estimates, but it is by no means the only one. Information on the extent of the use of the various business inventory accounting methods is essential for the construction of the estimates. Such information, as a rule, is available only on an annual basis, and is interpolated smoothly for the construction of quarterly and monthly estimates. Choosing the appropriate lags in the wholesale prices used in construction of the estimates is a more serious problem monthly and quarterly than annually. Inventory book values, the starting point for the estimates, are available for a much larger and better constructed sample on an annual basis than they are on a quarterly and monthly basis.9 Major problems in measuring real interest rates include the estimation of percent changes in sales prices by industry and determination of appropriate marginal tax rates as influenced not only by statutory rates, but also by the use of different inventory accounting systems.10 The real inter- 9. For a review of data problems, see Murray F. Foss, Gary Fromm, and Irving Rottenberg, Measurement of Business Inventories. (U.S. Department of Commerce, Bureau of the Census, Economic Research Report 3 (Washington, B.C.: U.S. GPO, 1980).) 10. In particular, LIFO accounting affects taxes because increases in the value of inventories during the period in which they are held are not subject to tax for firms using this accounting system. For a description of the influence of LIFO accounting on inventory estimates, see Hinrichs, "Inventories." December 1982 est rate measures in this article are more carefully constructed than is typical of other inventory studies. Nevertheless, these measures are undoubtedly based on much more accurate information annually than over any shorter span. The demand equations Separate demand equations are estimated for six categories of manufacturers' inventories, two equations each for materials, goods in process, and finished goods. One equation of each pair covers industries for which sales is the demand variable (roughly, nondurable goods manufacturing industries) and the other, industries for which new orders is the demand variable (roughly, durable goods manufacturing industries).11 The dependent variables in the six equations are the logarithms of end-of-year inventory holdings in constant dollars. For the sales industries, the independent variables are the logarithm of sales in constant dollars and a real interest rate. For the new orders industries, the variables are the logarithm of new orders in constant dollars and a real interest rate. New orders are converted from current to constant dollars by dividing by sales deflators. In most industries, new orders in quarter t are deflated by the sales deflator in quarter t+1 to allow for the fact that price quotations generally refer to goods sold currently, and hence ordered sometime previous- ly. The real interest rate variable is constructed separately for each twodigit manufacturing industry and then aggregated to the level of all sales industries and all new orders industries. The basic formula for the real interest rate is: 1-ft R-, 1-t where R is a short-term interest rate (specifically, the Federal Reserve series for bank rates on short-term business loans), P is the most recent 11. Note that the sales series used in this section of the article is manufacturers' shipments, including intermediate as well as final products. It is not the final sales series used in the first part of the article. The exceptions to the durable-nondurable split are lumber and furniture, which are durable goods industries but for which no new orders data are published separately. They are classified as sales industries for the purpose of this article. December 1982 annual rate of price increase for the sales of an industry, f is the proportion of each industry using non-LIFO accounting systems, and t is the statutory corporate tax rate.12 Estimates of f are based on Census Bureau annual surveys starting with 1974 and BEA surveys before 1974. They are smoothed before being used to calculate real interest rates. Both the demand variables and the real interest rate are split into two components, drawing on past studies about how sales expectations are formed and about how interest rate and price expectations are formed. For the demand variables—sales and new orders—the split is between last year's level and the change from last year to the current year.13 For the real interest rate, the split is between an "expected" component and an "unexpected" component, with the "expected" component calculated from lagged actual values and its own lagged values.14 Because each variable is split into two components, the logarithm of inventory holdings is related to four variables; the logarithm of lagged sales or new orders, the change in the logarithm of sales or new orders, the expected real interest rate, and the unexpected real interest rate. Regression results The inventory demand equations presented in this article are estimated using annual data as well as quarterly data. Comparisons of the two sets of results will reveal important differences—differences that could well be due to measurement errors in the quarterly data. Annual results.—The results of the estimation are shown in table 3. Of 12. This expression can be derived mathematically as the magnitude a profit-maximizing firm will set equal to the value of the marginal product of its stock of inventories if all of its interst costs are deductible expenses, and if a fraction, f, of the increase in the value of its inventories during the period in which they are held are subject to tax. 13. See Albert A. Hirsch and Michael C. Lovell, Sales Anticipations and Inventory Behavior (New York: Wiley & Sons, 1969), chapt. 5, especially pp. 116-28. 14. The separation is based on the equation XE t =a+b (X t -i+XE t -i), where XEt is the expected value of the real rate in year t, and Xt-i and XEt-i are the actual and expected real rates in year t—1. The procedure for estimating a and b is described in Frank de Leeuw and Michael J. McKelvey, "The Realization of Plans Reported in the BEA Plant and Equipment Survey," SURVEY 61 (October 1981): 36-37. 27 SURVEY OF CURRENT BUSINESS Table 3.—Demand Equations for Inventories: Annual Regression Results Orders industries Sales industries Constant Logarithm of sales or new orders lagged one year Change, logarithm of sales or new orders .. Expected real interest rate * Unexpected real interest rate * R2 Autocorrelation coefficient D-W Finished goods inventories Goods in process inventories Materials inventories -2.18 (-3.5) -5.60 (-16.0) (-8.2) 244 .81 (8.4) .68 (2.9) -.88 (-1.0) .09 (.4) .96 .67 1.7 1.19 (21.6) .81 (5.1) -.63 (-1.1) .12 (1.0) .99 .56 1.7 .84 (18.0) .69 (4.2) -1.93 (-3.7) -.16 (-1.2) .99 .42 1.7 Goods in process inventories Materials inventories 0.60 (.8) -1.89 (-2.6) -2.99 (-7.3) .37 (3.1) 0 (.0) -1.87 (-1.6) .39 (1.3) .97 .99 1.4 .86 (7.1) .27 (2.4) -2.83 (-2.2) .35 (1.1) .98 .95 1.5 1.00 (15.2) .36 (3.1) 500 (-4.2) .09 (.3) .98 .51 1.7 Finished goods inventories NOTE.—The dependent variables are logarithms of the levels of inventory stocks at the end of each year. Numbers in parentheses are t-ratios. 1. The real interest rate is expressed in decimal form; e.g., 4 percent is 0.04. Separation into expected and unexpected components is based on the formula XE t =a-j b (Xt-i + XEt-i) where XEt is the expected rate in year t and Xt-i and XEt-i are the actual and expected rates in year t—1. The unexpected rate is the actual rate minus the expected rate. See text for further explanation. the six sales or new orders coefficients, one is below (but not significantly below) 0.5, four lie between 0.5 and 1.0, and one is above 1.0. These coefficients, which represent long-run elasticities—i.e., percent responses of inventories to a 1-percent increase in sales or new orders—generally accord with theoretical expectations. Five of the six coefficients for the change in sales or new orders are positive and smaller than coefficients for lagged levels; the sixth coefficient is zero. This result implies that inventories respond positively both to this year's sales or new orders and last year's sales or new order.15 The result confirms past findings of a significant lag in inventories behind sales or new orders, although it does not provide any insight into why sizable lags should exist. Coefficients of change in demand are smaller for the finished goods stage of each group than for the other stages. Had these coefficients been negative, they would have been consistent with a temporary "involuntary" response of finished goods inventories to current sales or new orders before the long-run positive response dominates. In these annual equations there is no evidence of such behavior, although the results do not rule out such a response in a quarterly or monthly time frame. The coefficients of the expected real interest rate are all negative, with three of the six t-ratios equal (in absolute value) to 4.0 or more. These coefficients multiplied by the average real interest rate are equal to the implied elasticities—the percent change in inventories corresponding to a 1-percent increase in the real interest rate. Thus, a coefficient of —2.0 and an average real interest rate of 0.04 would imply an elasticity of 0.04 times —2.0, or —0.08. Because of the lag of the expected behind the actual rate, this response builds up gradually as an actual change is incorporated into expectations. The coefficients of the unexpected real interest rate are small and not significant statistically.16 All of the equations include a correction for first-order serial correlation in the residuals. The autocorrelation coefficients range from 0.42 to 0.99, implying that the unexplained variation in inventories changes smoothly even on an annual basis. Chart 8 shows the levels of materials inventories, new orders, and the expected real interest rate for the orders group of industries. The chart, like the equation for this category in table 3, suggests that (1) inventories respond to a smoothed version of new orders, and (2) inventories respond 15. If K, the logarithm of the level of inventories, is equal to a S-i+b (S-S-i), where S is logarithm of sales, then K can also be expressed as bS+(a-b) S-i. When a is positive and b is positive but smaller than a, then the alternative expression shows that K depends positively on both S and S-i. 16. Note that if inventories were related to the current actual real interest rates, and the split into expected and unexpected components were irrelevant, then the coefficients for the expected and unexpected components should be the same. In fact, they are significantly different. 28 SURVEY OF CURRENT BUSINESS negatively to the expected real rate, accounting for the increase in inventories relative to orders in the mid1970's. A number of alternative specifications were tested on annual data, with qualitatively similar results but some important quantitive differences. These results can be summarized briefly: (1) Equations without an autocorrelation correction had on average, larger and more significant negative coefficients for the real interest rate and somewhat larger coefficients for sales and new orders. (2) Replacing the "expected" and "unexpected' disaggregation of the real interest rate by a disaggregation into current level and current change— parallel to the treatment of sales and new orders — generally reduced the real interest rate coefficients, al- mmimmmmmmmammmmmmmmmmmmmmmmmammmmi^ CHART 8 Materials Inventories, New Orders, and Expected Real Interest Rate: Orders Industries, 1959-81 Billions of (1972) $ 32 Ratio Scale Billions of (1972) $ 750 700 30 Materials Inventories {left scale) 28 650 26 600 24 550 500 22 New Orders (right scale) 20 450 400 18 December 1982 though they all remained negative. (3) Replacing the level-and-change disaggregation of the demand variables by disaggregation into "expected" and "unexpected" levels— parallel to the treatment of the real interest rate — increased the coefficients of expected sales or new orders and decreased coefficients of the expected real interest rate, although the latter all remained negative. (4) A stock-adjustment specification of the basic equation, in which the logarithm of inventories depends on the logarithm of current sales or new orders, the current real interest rate, and the lagged stock of inventories, implied lags somewhat longer than the results shown in table 3. (5) Splitting the expected real interest rate into two components with separate coefficients, an expected interest-rate component and an expected price-change component, resulted in insignificant and generally positive interest-rate coefficients (contrary to hypothesis) and significant positive pricechange coefficients (in accordance with hypothesis). (6) Finally, an additional variable, the ratio of materials prices to final product prices, which would be expected to have a negative relationship to inventory holdings, had three negative coefficients and three positive coefficients. 350 16 300 14 12 I I I I I i I i i i t 250 Percent 2 - 1959 61 63 65 U.S. Department of Commerce, Bureau of Economic Analysis 67 71 73 75 77 79 81 Quarterly results.— Results of the quarterly versions of these equations, which appear in table 4, differ from those of the annual versions in major respects. The coefficients of levels of sales and new orders remain positive and significant, but average 20 percent lower than the corresponding coefficients in the annual equations. Coefficients of the expected real interest rate remain negative, but are much smaller and less significant. Quarterly results based on alternative specifications also tended to diverge from the annual results. For example, a stock-adjustment model fit to quarterly data implied considerably longer lags than those implied by annual stock-adjustment equations, which, as noted earlier, imply lags December 1982 somewhat longer than the equations reported in table 3. The annual equations appear to be more trustworthy than the quarterly ones. The annual variables are subject to smaller measurement errors, and the divergences in results are those that might be expected because of the nature of the quarterly measurement problems. For example, a quarterly dependent variable that is too smooth could easily increase the estimated length of lags; and errors in measuring the real interest rate could easily bias it coefficients towards zero. Although the annual regression results reported in table 3 seem preferable to regressions based on quarterly data, quarterly equations are necessary in order to determine how demand and cost factors contribute to the destabilizing behavior of manufacturing inventories. What is desired is a set of quarterly equations subject to the constraint that the long-run responses to demand and to expected real interest rates are in accord with the annual results in table 3. The appendix describes the way in which such equations were estimated. Simulation Results for Manufacturers' Inventories The constrained quarterly inventory demand equations described in the appendix are used in this section in two ways: (1) to analyze the causes of the destabilizing behavior of manufacturers' inventories, and (2) to illustrate the typical effect on manufacturers' inventories of a step change in sales or new orders and a step change in the real rate of interest. Table 5 and 6 show the results of these simulations. Accounting for destabilizing behavior The equations developed in the previous section and the appendix permit an allocation of the destabilizing behavior of manufacturers' inventory investment to the influences of current and lagged sales or new orders, and the real interest rate. The measure of destabilizing behavior developed in the first part of this article can be disaggregated into the contribution of each explanatory variable in the demand equations. Because the SURVEY OF CURRENT BUSINESS 29 Table 4.—Demand Equations for Inventories: Quarterly Regression Results C)rders industries> Sales industries Finished goods inventories Constant Logarithm of sales or new orders lagged four quarters Change in logarithm of sales or new orders: Lagged three quarters Lagged two quarters Lagged one quarter Current Expected real interest rate l Unexpected real interest rate 2 R Autocorrelation coefficient D-W l Finished goods inventories Goods in process inventories Goods in process inventories Materials inventories 0 10 (0.1) -390 (-16.2) -1.33 (-3.7) 1.97 (6.0) 0.79 (2.4) 0.66 (1.8) .57 (4.2) 1.18 (24.1) .85 (11.4) .18 (2.6) .55 (7.9) .52 (6.8) .42 (2.9) .41 (3.2) .21 (1.9) .12 (1.2) -.07 (-.2) .02 (.2) 994 .99 13 1.03 (10.4) .86 (8.8) .75 (7.9) .44 (5.0) -.50 (-1.7) .08 (1.1) 997 .89 19 .85 (8.1) .71 (7.0) .38 (4.1) .15 (1.7) -.63 (-2.0) .03 (.5) .996 .95 1.5 .15 (2.1) .08 (1.4) .03 (0.6) -.02 (-.6) -.72 (-1.4) -.15 (-1.6) .995 .99 1.2 .44 (6.6) .29 (4.9) .15 (3.1) .07 (2.0) -1.41 (-2.7) .03 (.4) .997 .99 .9 .44 (6.2) .32 (4.9) .17 (3.1) -.02 (-.5) -1.92 (-3.4) -.22 (-2.2) .996 .99 1.0 Materials inventories NOTE.—The dependent variables are logarithms of the levels of inventory stocks at the end of each year. Numbers in parentheses are t-ratios. 1. The real interest rate is expressed in decimal form; e.g., 4 percent is 0.04. Separation into expected and unexpected components based on formula EX t —a+b (( 1 /42X t - i )+XE t . 4 ) where XEt is the expected rate in quarter t, X t -j is the actual rate lagged i quarters, and XEt-4 is the expected rate four quarters ago. Estimates of a and b are based on annual data; see note to table 3 and text. measure of instability is not additive and because the equations do not fit perfectly, the disaggregation does not provide an exact accounting for the contribution of each variable, but only strong indications of which are most important. Note that the equations explain levels of inventories, whereas what contributes to stability or instability is inventory change. It is, therefore, changes in the explanatory variable of the demand equations that account for the stabilizing or destabilizing behavior of inventory investment. The results, shown in table 5, indicate that destabilizing behavior of manufacturers' inventory investment in all three stages is overwhelmingly due to the influence of lagged changes in sales and new orders, that is, lagged changes in demand. The table shows the separation of the total measure of instability into three components: the contribution of the acceleration or deceleration of demand in the current and previous quarter, the contribution of changes in demand in all earlier quarters, and the contribution of changes in the expected real interest rate (the impact of the unexpected rate, with its small and insignificant coefficients, is not shown in the table). For all three stages, the second factor, the contribution of lagged changes in demand, is highly destabilizing. These lagged changes Table 5.—Disaggregation of the Measure of the Contribution of Manufacturing Investment to Instability, 1959-81 [Percent] Finished goods inventories Goods in process inventories 10 76 62 Acceleration/deceleration during current and previous quarter Changes in all earlier quarters -4 2 1 46 146 134 Contribution of changes in expected real interest rate -.4 _ 9 Total Materials inventories Contribution of demand: -1.0 NOTE.—The measure is described in the text and in the note to table 1. The totals in this table are taken from column 1 of table 1. The additivity of the measure is discussed in footnote 5. are less destabilizing for inventories of finished goods, for which the longterm coefficients of the demand variables are relatively small, than for inventories in other stages. Evidently, cycles in demand last long enough that reductions in inventories in response to past weakness typically take place while demand is still below trend; and inventory buildups in response to past strength in demand typically take place while demand is still above trend. The contributions of the other factors in the table are much smaller. The response of inventory investment to the current acceleration or decel- 30 eration of demand makes a small stabilizing contribution for finished goods inventories and has a impact close to zero for the other stages. The contribution of changes in the expected real interest rate is also mildly stabilizing; evidently, the correspondence of expected increases in real interest rates with an expansion or expected decreases with a contraction, which would give rise to such behavior, are more common than the opposite situations. The typical response to demand and real interest rates The results of this study can be shown in the form of typical responses of manufacturers' inventory investment to a 1-percent increase in sales and new orders and to a 1 percentage point increase in the level of real interest rates. The latter change could be caused by a change of 1 percentage point in the bank interest rate on short-term business loans, or by a change of roughly 0.6 percentage points in the rate of inflation (the exact amounts depend on the industry distribution of the changes). Among other uses, these calculations may help forecasters in judging the sensitivity of manufacturers' inventory investment to variations in projected real growth rates, interest rates, and inflation rates. The calculations are summarized in table 6, assuming end-of-1981 inventory stocks in order to translate percent changes into dollars of inventory investment. For a 1-percent step increase in sales or new orders, the response of investment in finished goods inventories is the smallest of the three stages; it begins at $0.18 billion in 1972 dollars the quarter of the increase, rises to $0.34 billion two quarters later, and then falls to zero. The responses of investment in inventories of goods in process and inventories of materials are larger, reaching peaks of $0.43 billion and $0.71 billion. The three stages together reach a peak of $1.48 billion in the third quarter of the upward shift in sales and new orders. For a 1 percentage point increase in the real interest rate, the response of investment in finished goods inventories is again smallest, starting at -$0.28 billion in 1972 dollars, quickly December 1982 SURVEY OF CURRENT BUSINESS dropping to about one-half that amount, and then in the second year approaching zero. The response of investment in materials inventories is largest, beginning at —$0.80 billion, then dropping to just under —$0.50 billion for three quarters, to just over — $0.10 billion for the second year, and then to near zero. In total, manufacturers' inventory investment has its strongest response $1.32 billion—in the initial quarter. Thus, according to these results, projections of inventory investment ought to take interest rates and inflation rates, as well as sales and new orders, into account. Appendix: Constrained Quarterly Equations The easiest method of estimating quarterly equations constrained by annual long-run responses is to construct a set of quarterly dependent variables of the form: log K t -bi log D t - 4 -b2 REt where K is an inventory category, D is the demand variable (sales in three of the six equations, new orders in the Table 6.—Responses of Manufacturing Inventory Investment to a Step Change in Sales or New Orders and in Real Interest Rates: Initial Inventory Levels of End of 1981 [Billions of 1972 dollars, seasonally adjusted at annual rates] 1-percent increase in sales or new orders (1972 dollars) Quarters after step change Finished goods inventories Goods in process inventories 1 percentage point increase in real interest rate Finished goods inventories Goods in process inventories Materials inventories 0.23 .62 .71 .35 -0.28 -.16 -.15 -.15 -0.24 -.30 -.32 -.30 -0.80 -.45 -.47 -.45 .06 Materials inventories 1 2 3 4 0.18 .23 .34 .13 5 6 7 8 0 0 0 0 0 0 0 0 0 -.04 -.03 -.05 -.04 -.07 -.07 -.07 -.09 -.11 -.12 -.12 -.11 9 10 0 0 0 0 0 0 -.01 -.01 -.02 -.02 -.04 -.02 0.36 .36 .43 .41 .17 .32 Table 7.—Demand Equations for Inventories: Constrained Quarterly Regression Results Orders industries Sales industries Finished goods inventories Goods in process inventories Materials inventories Finished goods inventories Goods in process inventories Materials inventories Coefficients imposed from annual results: Logarithm of sales or new orders lagged four Expected real interest rate 0.81 -.88 1.19 -.63 0.86 1.00 -1.93 -1.87 -2.83 -5.00 -1.274 (-80.6) -1.123 (11.3) -.657 (-6.1) -1.557 (-21.1) 0.84 0.37 Estimated coefficients: -1.063 (-35.3) -3.951 (-379.8) Change in logarithm of sales or new orders: 3— quarter lag 2— quarter lag . 1 quarter lag Current quarter Unexpected real interest rate R2 Autocorrelation coefficient D-W .684 (7.1) 1.049 (12.2) .974 (10.7) .299 (9.3) .704 (20.3) .868 (20.3) .630 (6.3) .875 (9.8) .815 (8.6) .210 (5.0) .500 (11.0) .652 (11.6) .359 (3.6) .760 (8.5) .472 (5.0) .105 (2.4) .273 (5.8) .360 (6.2) .195 • (2.0) .448 (5.2) .174 (1.9) .013 (.4) .123 (3.5) .063 (1.5) .028 (.4) .076 (1.2) -.002 (0) -.170 (-1.8) .019 (.2) -.280 (-2.2) .93 .96 1.2 .88 .92 1.8 .89 .92 1.3 .99 .99 1.1 .97 .97 .8 .93 .98 .6 NOTE:—The dependent variables are logarithms of the levels of inventory stocks at the end of each year. Numbers in parentheses are t-ratios. December 1982 others), RE is the expected real rate of interest, and bi and b2 are the coefficients of lagged demand and of the expected real rate reported in table 3. These dependent variables are related to current and lagged changes in the logarithms of D and to the unexpected component of the real interest rate. Their coefficients determine the lag structure of the relationship of inventories to demand and cost; they do not influence the long-run responses. Results of this procedure are shown in table 7. Each current or lagged SURVEY OF CURRENT BUSINESS change in demand is entered as a separate variable. With few exceptions, the coefficients in table 7 imply that the longrun responses built into the equations develop gradually over four quarters. For example, in the equation for finished goods inventories in sales industries, the long-run coefficient of the logarithm of sales four quarters ago is constrained to be 0.81, and the coefficients on current and lagged changes are 0.195, 0.359, 0.630, and 0.684. The net coefficient on the current levels is 31 0.195; on the previous quarter's level, 0.359-0.195, i.e., 0.164; on the level two quarters ago, 0.630-0.359, i.e., 0.271; on the level three quarters ago, 0.684-0.630, i.e., 0.054; and on the level four quarters ago, 0.811 — 0.684, i.e., 0.127. All coefficients are positive, implying a gradual buildup of the response of inventories to sales. By design, the sum of these five coefficients equals 0.81. With only one exception, coefficients of the unexpected real interest rate, also shown in table 7, are not significant. By JOHN T. WOODWARD, J. STEVEN LANDEFELD, and EUGENE P. SESKIN Plant and Equipment Expenditures, Quarters of 1982 and First and Second Quarters of 1983 NoNFARM business in the U.S. plans small increases in spending for new plant and equipment in the first two quarters of 1983—0.4 percent and 1.1 percent, respectively—according to the BEA quarterly survey conducted1 in late October and November. Actual spending in the third quarter of 1982 declined 2.3 percent from the second quarter to a seasonally adjusted annual rate of $315.8 billion, 1.4 percent lower than plans indicated 3 months ago. The latest plans indicate a 0.2-percent decline in the fourth quarter. If plans reported in the survey are realized, spending in the first half of 1983 will be at an annual rate of $318.2 billion, 0.9 percent more than in the second half of 1982. Spending declined 3.1 percent from the first half of 1982 to the second half. Estimates of real capital spending (spending after adjustment by BEA for price changes) indicate a 0.4-percent decline in the first quarter of 1983 and a 0.2-percent decline in the second.2 Real spending declined 2.2 percent in the third quarter of 1982 and estimates indicate a 1.4-percent decline in the fourth. The latest estimates for the year 1982 indicate a de1. Plans have been adjusted for systematic biases in reporting (table 7, footnote 1). The adjustments were made for each industry. Before adjustment, plans for 1982 were $123.3 billion for manufacturing and $195.9 billion for nonmanufacturing. The net effect of the adjustments was to lower manufacturing $0.68 billion and to raise nonmanufacturing $1.45 billion. 2. Respondents to the quarterly survey are not asked to report information on price changes reflected in actual or planned spending figures. To provide estimates of real spending, BEA adjusts the survey results using implicit price deflators for each industry developed from unpublished data in the national income and product accounts. Estimates of real spending plans are based on the assumption that plans for each industry reflect price expectations equal to the average rate of change for that industry's deflator during the latest four quarters for which it is available. cline of 4.8 percent from 1981; real spending in 1981 was about the same as in 1980 (table 1). BEA now estimates that the price deflator for all capital goods purchases by business will increase 4.8 percent in 1982, down from a 5.5-percent increase estimated 3 months ago. The deflator increased 8.5 percent in 1981. The latest estimate of currentdollar spending for the full year 1982 is $320.0 billion, a 0.5-percent decline from 1981 (table 2 and chart 10). Spending programs for 1982 have been revised downward by business in the successive surveys: A 7.3-percent planned increase was reported in the survey conducted in January-February, a 2.2-percent increase in AprilMay, and a 0.7-percent increase in July-August. Spending in 1981 was $321.5 billion, 8.7 percent more than in 1980. If the 1982 spending estimate is realized, this would be the first year since 1961 that current-dollar spending has recorded a year-to-year decline. The latest downward revision in 1982 spending programs—$3.7 billion or 1.1 percent—was most pronounced in durable goods manufacturing industries, which revised programs down 2.6 percent; the largest percentage revisions were reported in stoneclay-glass, iron and steel, nonelectrical machinery, and motor vehicles. In nondurables, downward revisions in paper and chemicals were offset by an upward revision in petroleum. Nonmanufacturing industries revised programs down 1.1 percent; the downward revisions were widespread among the major industry groups, with only electric utilities and air transportation reporting upward revisions. Other highlights of the survey are: • The rate of capacity utilization in manufacturing was 69 percent in September, 2 points below June and 6 points below the rates reported in March and June 1975 during the 1974-75 recession (table 3). The September rate is the lowest recorded for the BEA series since it was begun in 1965. • The value of new investment projects started by manufacturers deCHART 9 Manufacturers' Capacity Utilization Rates by Major Industry Groups Percent 90 ALL MANUFACTURERS 86 82 78 74 70 66 90 Nondurable Goods 86 82 78 74 70 66 90 Primary-Processed 86 82 78 74 70 1971 73 75 77 79 Seasonally Adjusted 81 U.S. Department of Commerce, Bureau of Economic Analysis 32 December 1982 SURVEY OF CURRENT BUSINESS clined by $3.4 billion—or 11.8 percent—to $25.6 billion in the third quarter; starts by public utilities increased in the third quarter to $10.1 billion, compared with $6.0 billion in the second quarter (table 4). • The proportion of manufacturers reporting a need for more facilities declined 3 points, from 23 percent in Table 1.—Expenditures for New Plant and Equipment by U.S. Nonfarm Business in Constant (1972) Dollars: Percent Change From Preceding Year 1980 0.9 Total nonfarm business 0.2 1.2 7.4 9.2 -.7 3.5 -8.2 -5.6 -3.1 — .4 -3.5 Durable goods Nondurable goods .2 -11.0 39 -4.3 1.7 Mining Transportation Public utilities Trade and services Communication and other -4.8 8.2 Manufacturing Nonmanufacturing 1982 1981 5.6 -7.5 14 -.1 .2 6.9 -12.5 -5.0 18 -2.7 -6.8 Table 2.—Expenditures for New Plant and Equipment by U.S. Nonfarm Business: Percent Change From Preceding Year 1981 Actual Total nonfarm business Manufacturing Durable goods Primary metals1 Blast furnaces, steel works Nonferrous metals Fabricated metals.... Electrical machinery Machinery, except electrical Transportation equipment1 Motor vehicles Aircraft Stone, clay, and glass Other durables Nondurable goods Food including beverage Textiles Paper Chemicals Petroleum Rubber Other nondurables .. Nonmanufacturing Mining Transportation Railroad Air Other Public utilities Electric Gas and other Trade and services Communication and other 1982 Planned as reported by business in: Jan.Feb. Apr.May 8.7 7.3 2.2 9.5 7.9 .4 5.0 5.3 8.7 7.7 -1.1 1.3 -3.8 28.7 15.7 11.3 -14.9 -10.1 .2 12.3 -2.4 0.7 Nov.Dec. -0.5 -2.0 -3.3 -3.8 -.8 -6.3 -4.1 20.7 -16.8 -10.4 7.5 22.2 14.1 6.4 14.1 12.7 5.0 8.3 14.8 -17.0 -11.0 3.4 5.0 1.3 11.3 -8.5 1.1 -11.9 -5.9 -13.6 12.9 -3.8 -16.4 -18.4 -8.3 -17.9 -21.5 -7.8 -17.7 11.8 1.3 -10.0 3.4 -5.8 -11.4 -6.5 -17.3 -7.3 14.1 11.2 -3.9 -13 8.0 28.4 19 7.4 7.1 1.8 -.3 -.4 -1.8 -5.9 -5.8 -6.7 -17.2 -2.5 -15.0 -18.3 6 -11 9 -65 -11 3 4.7 2.7 1.6 13.1 5.0 2.0 3.9 9.0 146 67 -32 -1 1 5.2 9.3 2.2 1.8 8.3 7.0 3.4 2.4 1.3 24.8 -.3 -.3 -5.1 46 8.3 58 18.1 5.6 8.7 12.3 7.2 9.1 208 4.7 68 -2.6 4.8 2.2 4.3 9.9 .8 17 3.0 52 -4.6 2.9 -2.3 2.3 6.4 1.4 -1 1 6.5 86 -.5 1.2 -4.8 -2.0 -2.9 4.3 -72 8.4 11.2 -1.1 .1 11.0 11.4 5.1 3.1 .9 1. Includes industries not shown separately. JulyAug. June to 20 percent at the end of September; this is 11 points lower than at the end of September 1981 (table 5). • Spending for new plant declined 2.0 percent in the third quarter and spending for new equipment declined 2.5 percent (table 6). Declines in real spending for plant and for equipment—1.7 percent and 2.4 percent, respectively—differed little from the declines in current-dollar spending. The continued downward revisions in investment programs and the indications of depressed real spending through the first half of next year are consistent with other indicators of future investment activity. In addition to declines in those reported in the latest BEA survey—capacity utilization, manufacturing starts, and manufacturers' facility needs—capital appropriations in manufacturing declined again in the third quarter after a sharp drop in the second, and new orders for nondefense capital goods declined significantly in the third quarter, the fourth consecutive quarterly decline. Manufacturing Programs 33 CHART 10 Changes in Business Investment -10 TOTAL NONFARM BUSINESS 0 Percent 10 20 l i 30 •• 1 982 Planned I CZD1981 Actual Electric Utilities Air Transportation Communication and Other Trade and Services im m f d mm t =n ZZ3 Nondurable Goods Manufacturing Gas, Water, and Sanitary Services i 1 i Railroad Mining Durable Goods Manufacturing Miscellaneous Transportation i •i ••=3 ••ZZJ i i U.S. Department of Commerce, Bureau of Economic Analysis ufacturing; a 2.2-percent increase in durables more than offsets a 0.4-perFor manufacturing, current-dollar cent decline in nondurables. spending declined 3.5 percent in the Manufacturers started new investthird quarter, to an annual rate of ment projects during the third quar$119.5 billion, after a 3.5-percent de- ter of 1982 totaling $25.6 billion, 11.8 cline in the second. The third-quarter percent less than in the second quardecline is in both durables and non- ter. The largest declines were in durables. Plans indicate increases of chemicals and petroleum; a sizable in0.9 percent in the fourth quarter, and crease was reported in electrical ma0.8 percent in the first quarter of chinery. 1983; these small increases reflect The value of new projects started largely offsetting changes among in- by manufacturers in the third quarter dustries. Plans indicate an increase of was less than their capital expendi1.6 percent in the second quarter of tures, resulting in a decrease in car1983, with most of the increase in ryover—the amount still to be spent nondurables. on plant and equipment projects unCurrent-dollar spending for the derway. Carryover totaled $83.2 bilyear 1982 is estimated at $122.7 bil- lion at the end of September, $4.3 billion, a 3.3-percent decline from 1981. lion less than at the end of June. DuDurable goods industries report a 6.3- rable goods carryover declined $2.6 percent decline and nondurable goods, billion, and nondurables, $1.6 billion. a 0.4-percent decline. The largest declines are reported by motor vehicles, Capacity utilization stone-clay-glass, textiles, nonferrous The 2-point decline in the manufacmetals, and paper; a sizable increase turing utilization rate, from 71 peris reported by iron and steel. Real spending for the year 1982 is cent in June to 69 percent in Septemestimated to decline 6.9 percent from ber, was widespread in both durables 1981, with declines of 8.2 percent in and nondurables. Durables declined 3 durables and 5.6 percent in nondura- points, to 65 percent, and nondurables bles. In the first half of 1983, a 0.9- declined 2 points, to 74 percent. percent increase is estimated in man- Among major industry groups, motor 34 SURVEY OF CURRENT BUSINESS December 1982 Table 3.—Manufacturers' Capacity Utilization Rates: Operating Rates and Ratios of Operating to Preferred Ratesl [Seasonally adjusted] Operating rates (percent) 1981 Industry and asset size June All manufacturing Sept. 78 Ratios of operating to preferred rates 1982 Mar. Dec. 72 76 June 1981 Sept. 72 June 1982 Dec. Sept. 0.81 69 Mar. 0.77 0.78 June 0.76 Sept. 0.74 Asset size: $100.0 million and over $10.0 to $99.9 million Under $10.0 million .81 Durable goods2 .81 .83 .80 .77 .80 .77 .78 .80 .77 .82 .76 .78 .75 .74 .76 .73 .72 .69 Asset size: $100.0 million and over $10.0 to $99.9 million Under $10.0 million .83 .81 .78 Primary metals Electrical machinery Machinery, except electrical Transportation equipment3 Motor vehicles Aircraft Stone, clay, and glass .83 .84 .95 .75 .72 .81 .78 Nondurable goods4 75 .74 .74 .76 .75 .74 .74 .73 .71 .69 .69 .69 .94 .67 .59 .81 .76 .68 .82 .93 .61 .50 .79 .71 .66 .81 .90 .66 .60 .77 .74 .56 .80 .86 .69 .66 .76 .52 .78 .83 .63 .57 .75 .70 .85 .81 .82 .82 .82 .78 Asset size: .87 .87 .84 .85 .86 .82 Food including beverage Textiles Paper Chemicals Petroleum Rubber .86 .85 .92 .85 .80 .82 .85 .84 .88 .83 .77 .76 .78 .86 .78 .78 .70 .85 .77 .84 .77 .79 .81 .83 .78 .84 .77 .78 .75 Primary-processed goods5 .83 .81 .76 .71 .70 .82 .78 .79 .76 $100.0 million and over $10.0 to $99.9 million Under $10.0 million Advanced-processed goods6 4. Also includes tobacco, apparel, printing-publishing, and leather. 5. Consists of lumber; stone, clay, and glass; primary metals; fabricated metals; textiles; paper; chemicals (at & weight); petroleum; and rubber. 6. Consists of furniture, electrical machinery, machinery except electrical, motor vehicles, aircraft, other transportation equipment, instruments, food including beverage, tobacco, apparel, printing-publishing, chemicals (at & weight), leather, and miscellaneous. 1. The survey asks manufacturers to report actual and preferred rates of capacity utilization for the last month of each quarter. Utilization rates for industry and asset-size groups are weighted averages of individual company rates. See "The Utilization of Manufacturing Capacity, 196573," SURVEY OF CURRENT BUSINESS, July 1974, p. 47. 2. Also includes lumber, furniture, fabricated metals, instruments, and miscellaneous. 3. Also includes other transportation equipment. Table 4.—Starts and Carryover of Plant and Equipment Projects, Manufacturing and Public Utilities [Billions of dollars; quarters seasonally adjusted] Starts1 1980 1981 III Manufacturing.. Durable goods3.. Primary metals Electrical machinery Machinery, except electrical.. Transportation equipment Stone, clay, and glass Nondurable goods3 Food including beverage.. Paper Chemicals Petroleum Public utilities.... Carryover2 IV III Sept. 1982 Dec. Mar. June Sept. 33.33 123.32 57.67 68.89 18.15 18.23 10.95 7.91 10.25 10.72 16.50 3.46 9.78 11.50 15.95 19.35 3.22 2.46 3.59 3.04 5.46 .94 2.29 3.22 6.02 3.31 .90 1.32 2.23 2.32 3.18 .34 12.55 65.65 66.29 15.19 15.45 16.77 16.49 7.41 7.74 14.01 26.63 8.33 6.56 13.34 27.64 2.28 1.67 3.70 5.23 1.40 2.30 3.01 6.25 1.52 1.84 3.28 7.82 1.62 1.50 4.07 7.43 43.69 34.98 9.29 1.00 6.02 1.56 2.28 3.04 3.98 .61 1. Starts are estimated by adding changes in carryover to expenditures during the given period. 2. Carryover refers to expenditures yet to be incurred on plant and equipment projects already underway at the end of the period. 3. Includes industries not shown separately. 1981 1982 1981 11.66 41.34 44.37 40.12 37.91 35.29 1.12 2.60 2.74 3.53 .44 9.01 5.65 6.32 13.20 1.97 9.18 6.49 8.75 12.26 2.13 8.28 6.02 7.74 11.34 1.79 7.66 5.50 7.39 11.61 1.71 7.05 5.34 6.85 11.18 1.51 13.94 50.44 49.36 49.26 49.56 47.92 1.67 1.65 2.62 5.82 5.59 5.62 11.68 21.77 5.07 6.28 11.08 21.08 4.53 6.60 10.78 21.74 4.25 6.59 11.39 22.21 4.03 6.70 10.75 21.50 10.09 134.97 126.04 111.70 107.37 106.62 SURVEY OF CURRENT BUSINESS December 1982 Table 5.—Manufacturers' Evaluation of Their Plant and Equipment Facilities ] [Percent distribution of gross depreciable assets] 19 81 Sept. 30 1982 Dec. 31 Mar. 31 June 30 Sept. 30 More plant and equipment needed: All manufacturing.... Durable goods 2 Primary metals.. . Metal products 3 Nondurable goods 2 Food including beverage Chemicals and petroleum 31 1 27*5 25 3 309 34 7 41 6 40 3 27 2 225 11 2 290 32 0 383 35 6 25 3 198 84 259 30 6 27 0 38 1 23 3 18 1 38 25 6 284 19 8 39 6 20 2 17 1 24 24 3 23 3 19 8 30 7 541 551 483 568 530 510 442 578 55 9 523 564 595 51 5 575 54 1 54 2 535 54 3 54 1 64 1 474 53 5 51 9 564 49 4 55 1 72 5 47 3 52 0 45 4 28 2 47 9 58 5 68 0 550 148 174 264 123 123 74 155 15 0 21 6 365 14 6 85 102 69 20 6 26 0 38 1 19 8 153 89 145 23 2 30 0 398 25 0 16 5 77 13 1 27 8 37 5 69 4 27 8 18 2 12 2 14 3 About adequate: All manufacturing Durable goods 2 Primary metals3 Metal products . Nondurable goods 2. Food including beverage Chemicals and petroleum Existing plant and equipment exceeds needs: AH manufacturing Durable goods 2 Primary metals3 Metal products Nondurable goods2 Food including beverage Chemicals and petroleum 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. 35 vehicles declined 9 points, to 58 percent, and rubber declined 6 points, to 70 percent. Primary metals declined 4 points, to 48 percent. Food-beverage and nonelectrical machinery each declined 3 points, to 75 and 79 percent, respectively. Stone-clay-glass reported a 2-point increase, to 64 percent. The utilization rate for advancedprocessed goods industries declined 3 points from June to September, to 71 percent; the rate for primary-processed goods was 66 percent, unchanged from June. Large firms reported a utilization rate for September of 70 percent; medium-sized firms also reported 70 percent, and small firms reported 67 percent. These rates represented 2point declines for each of the size groups. Manufacturing companies owning 20 percent of fixed assets reported a need for more facilities as of the end of September, 3 percentage points lower than at the end of June; the Table 6.—Expenditures for New Plant and New Equipment by U.S. Nonfarm Business in Current and Constant Dollars Billions of 1972 dollars Billons of dollars Seasonally adjusted at annual rates Seasonally adjusted at annual rates 1980 1981 1981 III 1980 1982 IV I II III III 1982 1981 1981 IV I II III 295.63 117.55 178.08 321.49 133.46 188.04 328.25 136.40 191.85 327.83 136.67 191.17 327.72 139.49 188.23 323.22 137.95 185.28 315.79 135.14 180.65 159.12 52.39 106.73 159.44 53.81 105.64 161.33 54.80 106.52 158.22 52.80 105.42 157.49 53.42 104.07 152.75 52.04 100.71 149.39 51.14 98.25 115.81 36.06 79.76 126.79 40.70 86.09 130.11 41.75 88.37 126.91 41.31 85.60 128.32 42.91 85.41 123.77 42.05 81.71 119.46 39.23 80.22 60.01 15.07 44.95 60.75 15.20 45.55 61.75 15.56 46.19 59.00 14.59 44.41 59.77 15.04 44.73 56.49 14.36 42.13 55.00 13.36 41.64 58.91 16.28 42.63 61.84 16.03 45.82 62.58 15.70 46.88 60.78 15.46 45.32 60.84 16.03 44.81 59.03 15.34 43.69 57.14 14.36 42.77 31.91 7.48 24.42 31.67 6.90 24.77 31.75 6.75 25.00 30.50 6.43 24.06 30.69 6.62 24.07 29.34 6.23 23.11 28.53 5.80 22.73 56.90 19.78 37.12 64.95 24.68 40.27 67.53 26.05 41.48 66.14 25.86 40.28 67.48 26.88 40.60 64.74 26.72 38.03 62.32 24.87 37.45 28.11 7.58 20.52 29.08 8.29 20.79 30.00 8.81 21.19 28.51 8.16 20.35 29.08 8.42 20.66 27.15 8.13 19.02 26.48 7.57 18.91 179.81 81.49 98.32 194.70 92.75 101.95 198.13 94.66 103.48 200.92 95.35 105.57 199.40 96.58 102.82 199.46 95.89 103.56 196.33 95.91 100.42 99.11 37.32 61.78 98.69 38.61 60.08 99.58 39.25 60.33 99.22 38.21 61.01 97.72 38.38 59.34 96.26 37.68 58.58 94.39 37.77 56.61 Mining Plant Equipment 13.51 7.75 5.76 16.86 10.75 6.11 17.55 10.83 6.72 16.81 10.99 5.82 17.60 11.53 6.08 16.56 10.76 5.80 14.63 8.92 5.71 5.10 2.40 2.70 5.39 2.78 2.61 5.63 2.80 2.83 5.00 2.63 2.36 5.19 2.72 2.47 4.80 2.48 2.32 4.34 2.04 2.30 Transportation Plant Equipment 12.09 2.99 9.10 12.05 3.33 8.72 11.61 3.40 8.21 13.12 3.55 9.56 11.99 3.96 8.03 12.32 4.21 8.12 11.28 3.36 7.92 6.04 1.39 4.66 5.59 1.44 4.15 5.36 1.47 3.89 5.91 1.50 4.41 5.38 1.67 3.71 5.49 1.75 3.73 5.09 1.40 3.69 Public utilities Plant Equipment 35.44 23.00 12.44 38.40 25.23 13.17 39.55 25.84 13.71 39.74 26.45 13.29 40.12 25.80 14.32 41.40 26.64 14.76 43.38 28.50 14.88 17.55 10.64 6.91 17.30 10.67 6.63 17.75 10.89 6.87 17.24 10.75 6.50 17.39 10.36 7.04 17.56 10.54 7.01 18.26 11.20 7.07 Trade and services Plant Equipment 81.79 35.23 46.56 86.33 39.43 46.90 87.55 39.92 47.63 88.33 39.52 48.81 87.80 39.98 47.82 88.85 39.85 49.00 87.31 40.43 46.88 47.32 16.71 30.61 47.27 17.69 29.58 47.57 17.87 29.70 47.89 17.27 30.62 47.60 17.44 30.16 47.29 17.11 30.19 46.11 17.26 28.85 36.99 12.52 24.46 41.06 14.02 27.05 41.89 14.67 27.21 42.92 14.84 28.08 41.89 15.32 26.58 40.33 14.44 25.89 39.73 14.70 25.03 23.09 6.18 16.91 23.14 6.03 17.11 23.26 6.22 17.04 23.17 6.06 17.12 22.15 6.20 15.95 21.13 5.80 15.33 20.59 5.88 14.71 Total nonfarm business Plant Equipment Manufacturing Plant Equipment Durable goods Plant Equipment Nondurable goods Plant Equipment Nonmanufacturing Plant Equipment , , .. Communication and other Plant Equipment l 1. Includes construction; social services and membership organizations; and forestry, fisheries, and agricultural services. SURVEY OF CURRENT BUSINESS 36 December 1982 Table 7.—Expenditures for New Plant and Equipment by U.S. Nonfarm Business in Current and Constant Dollars Billions of dollars; quarters seasonally adjusted at annual rates 1981 1980 Total nonfarm business Manufacturing .. . Durable goods .4 Primary metals Blast furnaces, steel works Nonferrous metals Fabricated metals Electrical machinery Machinery except electrical Transportation equipment 4 Motor vehicles Aircraft Stone clay and5 glass Other durables . ... . . .... . .... Nondurable goods Food including beverage Textiles .. Paper Chemicals Petroleum Rubber Other nondurables6 .. .... 1982 1981 1 1982 1983 III IV I II III IV 1 I1 II 1 295.63 321.49 319.99 328.25 327.83 327.72 323.22 315.79 315.21 316.40 320.00 115.81 126.79 122.67 130.11 126.91 128.32 123.77 119.46 120.50 121.43 123.42 58.91 7.71 3.29 3.11 2.96 9.59 11.59 18.16 9.06 7.03 3.82 5.09 61.84 8.12 3.17 3.46 2.96 10.31 13.22 18.39 10.08 6.43 3.14 5.69 57.95 7.78 3.63 2.87 2.64 10.67 13.89 15.09 7.91 5.92 2.60 5.28 62.58 7.89 3.04 3.49 3.05 11.60 12.82 18.25 10.31 5.99 S.28 5.70 60.78 8.48 3.64 3.13 3.05 9.49 14.34 17.01 9.72 5.58 2.96 5.45 60.84 8.92 4.13 3.16 3.00 10.79 13.34 16.39 8.64 6.48 2.73 5.67 59.03 8.70 4.13 3.05 2.69 11.22 13.55 14.87 7.49 6.21 2.77 5.22 57.14 6.95 3.39 2.52 2.42 11.03 13.15 15.81 8.04 6.53 2.53 5.25 55.80 7.00 3.15 2.83 2.50 9.89 15.24 13.71 7.62 4.73 2.38 5.07 57.90 6.82 3.22 2.67 2.53 12.41 14.46 14.48 8.52 4.99 2.39 4.81 58.30 6.61 3.33 2.38 2.71 12.90 14.70 13.81 7.30 5.51 2.66 4.91 56.90 7.39 1.62 6.80 12.60 20.69 1.73 6.08 64.95 8.22 1.56 6.72 13.60 26.56 1.77 6.53 64.72 7.67 1.29 5.96 13.82 27.60 1.75 6.64 67.53 8.67 1.54 7.01 14.95 26.61 1.30 6.94 66.14 7.66 1.53 6.56 14.42 27.81 1.76 6.41 67.48 8.23 1.39 6.05 14.35 28.61 1.80 7.06 64.74 7.59 1.31 6.04 13.83 27.82 1.80 6.35 62.32 7.56 1.18 6.16 13.05 26.13 1.65 6.58 64.70 7.41 1.28 5.65 14.09 27.87 1.74 6.66 63.54 7.13 1.31 5.74 14.76 25.90 1.73 6.97 65.12 6.91 1.39 6.04 14.31 27.98 1.67 6.83 179.81 194.70 197.32 198.13 200.92 199.40 199.46 196.33 194.71 194.97 196.58 Mining 13.51 16.86 16.05 17.55 16.81 17.60 16.56 14.63 15.56 16.18 17.33 Transportation Railroad Air Other 12.09 4.25 4.01 3.82 12.05 4.24 3.81 4.00 11.80 4.12 3.97 3.71 11.61 4.18 3.34 4.09 13.12 4.18 4.82 4.12 11.99 4.56 3.20 4.23 12.32 4.73 3.54 4.06 11.28 3.94 4.11 3.24 11.82 3.33 5.02 3.48 10.63 3.05 3.81 3.76 11.66 3.78 4.02 3.86 35.44 28.12 7.32 38.40 29.74 8.65 41.62 33.06 8.56 39.55 30.54 9.01 39.74 31.14 8.60 40.12 30.95 9.17 41.40 32.26 9.14 43.38 34.98 8.40 41.66 33.89 7.78 40.76 32.15 8.62 40.30 31.63 8.66 Trade and services Wholesale and retail trade Finance insurance and real estate Personal, business, and prof, svcs 81.79 21.78 31.93 28.08 86.33 22.43 34.36 29.54 86.42 87.55 22.71 36.11 28.73 88.33 23.70 35.89 28.73 87.80 21.38 35.78 30.63 88.85 22.11 34.73 32.01 87.31 22.40 34.49 30.42 82.01 85.87 85.87 Communication and other Communication Other7 . . 36.99 26.16 10.82 41.06 28.89 12.17 41.43 41.89 29.43 12.45 42.92 29.94 12.97 41.89 29.04 12.85 40.33 28.23 12.10 39.73 27.94 11.79 43.65 41.53 41.43 Nonmanufacturing ... . Public utilities Electric Gas and other ... . .. ... . Billions of 1972 dollars; quarters seasonally adjusted at annual rates 2 159.12 159.44 151.75 161.33 158.22 157.49 152.75 149.39 147.36 146.81 146.58 60.01 60.75 56.53 61.75 59.00 59.77 56.49 55.00 54.86 55.29 55.60 31.91 3.92 1.68 1.55 1.59 5.60 6.51 9.61 4.70 3.79 1.96 2.72 31.67 3.81 1.44 1.63 1.48 5.71 7.04 9.22 4.93 3.35 1.50 2.91 29.08 31.75 3.68 1.39 1.62 1.50 6.35 6.77 9.01 4.97 3.09 1.54 2.89 30.50 3.90 1.64 1.43 1.50 5.07 7.57 8.30 4.65 2.82 1.38 2.78 30.69 4.11 1.88 1.44 1.47 5.87 7.05 8.07 4.16 3.30 1.26 2.86 29.34 3.92 1.84 1.35 1.30 6.04 7.07 7.18 3.54 3.09 1.25 2.58 28.53 3.12 1.50 1.11 1.17 5.90 6.89 7.66 3.80 3.26 1.15 2.64 27.74 28.70 28.81 28.11 3.91 .85 3.64 6.65 8.79 .93 3.35 29.08 4.06 .75 3.37 6.65 9.98 .88 3.39 27.46 30.00 4.24 .73 3.48 7.24 9.85 .89 3.58 28.51 3.69 .72 3.22 6.87 9.89 .86 3.26 29.08 3.97 .65 2.96 6.83 10.18 .88 3.61 27.15 3.60 .60 2.91 6.44 9.54 .86 3.19 26.48 3.60 .55 2.98 6.20 9.02 .80 3.33 27.12 26.59 26.79 99.11 98.69 95.22 99.58 99.22 97.72 96.26 94.39 92.50 91.52 90.98 5.10 5.39 4.71 5.63 5.00 5.19 4.80 4.34 4.53 4.62 4.85 6.04 5.59 5.31 5.36 5.91 5.38 5.49 5.09 5.30 4.73 5.16 17.55 17.30 17.62 17.75 17.24 17.39 17.56 18.26 17.26 16.62 16.17 Trade and services Wholesale and retail trade Finance insurance and real estate 47.32 12.14 18.95 16.24 47.27 11.64 19.48 16.15 46.00 47.57 11.70 20.32 15.56 47.89 12.19 20.17 15.53 47.60 10.91 20.05 16.63 47.29 11.14 19.21 16.94 46.11 11.26 18.91 15.94 42.99 44.62 44.29 Communication and other 23.09 17.85 5.24 23.14 17.70 5.44 21.57 23.26 17.73 5.53 23.17 17.53 5.65 22.15 16.57 5.58 21.13 15.90 5.22 20.59 15.48 5.11 22.41 20.93 20.52 Total nonfarm business Manufacturing . ... ... Durable goods 3 Primary metals Blast furnaces, steel works Nonferrous metals Fabricated metals Electrical machinery Machinery, except electrical Transportation equipment 3 Motor vehicles Aircraft Stone clay and glass Nondurable goods Textiles Paper ... Petroleum Rubber Other nondurables Nonmanufacturing Mining Transportation Railroad Air Other Public utilities Electric .. Gas and other Other r . ••• . . Revised. 1. Estimates are based on planned capital expenditures reported by business in late October and November 1982. The planned expenditures are adjusted for systematic biases in reporting. The adjustment procedures are described in the October 1980 SURVEY. Before adjustment, plans for 1982 were $319.22 billion for total nonfarm business, $123.35 billion for manufacturing, and $195.87 billion for nonmanufacturing. 2. Procedures for preparing constant-dollar estimates are described in the September 1981 SURVEY. 3. Constant-dollar plans are adjusted by BEA for assumed price changes. 4. Includes industries not shown separately. 5. Consists of lumber, furniture, instruments, and miscellaneous. 6. Consists of apparel, tobacco, leather, and printing-publishing. 7. Consists of construction; social services and membership organizations; and forestry, fisheries, and agricultural services. December 1982 largest decline was in the chemicalspetroleum group. Companies owning 52 percent of fixed assets reported that facilities were about adequate, a decline of 1% points from June; companies owning 28 percent of fixed assets reported that facilities exceeded needs, an increase of 5 points. Nonmanufacturing Programs Nonmanufacturers' current-dollar spending declined 1.6 percent in the third quarter, to an annual rate of $196.3 billion, after showing no change from the first quarter to the second; third-quarter declines were reported by most major industries except air transportation and electric SURVEY OF CURRENT BUSINESS utilities. Plans indicate a 0.8-percent decline in the fourth quarter and virtually no change in the first quarter of 1983. A 0.8-percent increase is planned in the second quarter; most of the major industries plan increases except electric utilities, which plans a decline. Current-dollar spending for the year 1982 is estimated at $197.3 billion, a 1.3-percent increase over 1981. The largest increase, 11.2 percent, is reported by electric utilities. Smaller increases are reported by air transportation, "communication and other/' and trade and services. Declines are reported by "other transportation/' mining, railroads, and gas utilities. 37 Real spending for the year 1982 is estimated to decline 3.5 percent from 1981. The largest decline is in mining, 12.5 percent; smaller declines are estimated in "communication and other/' transportation, and trade and services. In public utilities, estimates indicate a 1.8-percent increase. In the first half of 1983, a 2.3-percent decline is estimated for nonmanufacturing industries. Starts of new investment projects by public utilities totaled $10.1 billion in the third quarter, compared with $6.0 billion in the second quarter. Carryover of utility projects totaled $106.6 billion at the end of September, $0.8 billion less than at the end of June. By ANTHONY J. DiLULLO U.S. International Transactions, Third Quarter 1982 THE U.S. current-account balance shifted to a deficit of $4.2 billion in the third quarter from a surplus of $2.2 billion in the second. The shift was more than accounted for by an increase in the merchandise trade deficit to $12.5 billion, from $5.7 billion. A $3.0 billion increase in petroleum imports, following four consecutive quarterly declines, and a $2.2 billion decrease in agricultural exports, related to depressed prices and a decrease in shipments to Eastern Europe, accounted for most of the increase in the deficit. Net service receipts increased $0.2 billion; a decrease of $0.3 billion in net investment income receipts was more than offset by net increases in the military and travel accounts. Among the private capital accounts, the increase in claims on foreigners reported by U.S. banks slowed to $21.0 billion from $36.9 billion and the increase in liabilities slowed to $11.5 billion from $24.6 billion. Con- tinued depressed business conditions in most industrial countries, declining interest rates, and increasing selectivity by U.S. banks concerning foreign loans were factors in the slowing in international banking activity. There were unusual net inflows in the U.S. direct investment abroad account for the second consecutive quarter, as Netherlands Antillean finance affiliates of U.S. companies continued to raise funds in the Eurodollar market to meet domestic financial requirements; inflows were $1.0 billion. Inflows for foreign direct investment in the United States were down slightly to $2.3 billion. In the official capital accounts, U.S. official reserve assets increased $0.8 billion; foreign official assets in the United States increased $2.1 billion. The statistical discrepancy (errors and omissions in reported transactions) was an inflow of $14.5 billion, the largest since the second quarter of 1980. In earlier quarters of 1982, it had ranged between $5 and $6 billion (table A). U.S. dollar in exchange markets The U.S. dollar appreciated 5 percent and 4 percent on a trade-weighted basis against the currencies of 10 industrial and 22 OECD countries, respectively, reaching its highest point in 12 years (chart 11 and table C). The dollar appreciation occurred despite a sharp drop in U.S. and Eurodollar interest rates relative to foreign rates. On balance, the United States appeared a relatively safe haven for funds, as sensitivity to global financial and political risks increased. Many of the resultant capital inflows were apparently unrecorded, contributing to the increase in the statistical discrepancy in the U.S. international accounts. The dollar appreciated 11 percent against the French franc, despite substantial sales of dollars by French au- Table A.—Summary of U.S. International Transactions [Millions of dollars, seasonally adjusted] 1981 Lines in tables 1, 2, and 10 in which transactions are included are indicated in ( ) Line 1982 1981 I II III IV r r I II 90,193 55,780 34,413 91,266 55,174 36,092 88,058 52,480 35,578 III" Change: 1982 IIIII January-September 1981 1982" Change: 1981-82 -3,208 -2,694 -514 280,634 178,661 101,973 269,517 163,434 106,083 -11,117 -15,227 4,110 5,502 9,905 -4,403 Exports of goods and services (1) Merchandise excluding military (2) Other goods and services (3—15) 1 2 3 372,892 236,254 136,638 93,280 60,683 32,597 94,389 60,284 34,105 92,965 57,694 35,271 92,259 57,593 34,666 Imports of goods and services (17) Merchandise, excluding military (18) Other goods and services (19—31). 4 5 6 -361,813 -264,143 -97,670 -88,613 -64,995 -23,618 -91,480 - 66,831 -24,649 -90,406 -65,539 -24,867 -91,316 -66,778 -24,538 -87,070 -61,653 -25,417 -87,295 -60,869 -26,426 -90,632 -64,938 -25,694 -3,337 -4,069 732 -270,499 -197,365 -73,134 -264,997 -187,460 -77,537 U. S. Government grants (excluding military grants of goods and services) (34) . Remittances, pensions, and other transfers (35, 36) 7 8 -4,504 - 2,104 -1,250 -558 -1,308 -562 -1,473 -575 -1,069 -671 -1,051 -602 18 69 -3,196 -1,544 -3,593 -1,848 -26,364 11,426 -61,619 -95,355 338 -5,438 -3,015 2,423 U.S. assets abroad, net (increase/capital outflow (-)) (37) U S official reserve assets, net (38) U.S. Government assets, other than official reserve assets net (43) U S private assets, net (47) Foreign assets in the United States, net (increase/ capital inflow ( + )) (56) Foreign official assets net (57) Other foreign assets, net (64) Allocations of special drawing rights (74) Statistical discrepancy (75) r p Revised. Preliminary. 38 -960 -462 -986 -524 r -397 -304 9 -109,294 -22,796 -21,566 -17,257 -47,677 -31,201 -37,790 10 -5,175 -4,529 -995 -4 262 -1,089 -1,132 11 12 -5,137 -98,982 -1,375 -16,892 -1,518 -19,143 -1,257 -15,996 -987 -46,952 -904 -29,208 -1,547 -35,111 -2,418 -23,152 -871 11,959 -4,150 -52,031 -4,869 -87,471 -719 -35,440 13 14 15 16 17 77,921 4,785 73,136 1,093 25,809 8,470 5,361 3,109 1,093 9,988 13,464 -2,861 16,324 16,880 -5,835 22,715 39,107 8,119 30,988 25,080 -3,122 28,202 29,619 1,998 27,621 16,054 2,102 13,952 -13,565 104 -13,669 70,752 978 69,775 -374 9,497 5,940 14,537 8,597 38,814 -3,335 42,148 1 093 16,317 31,938 4,313 27,627 -1,093 9,205 6,703 r 5,045 -794 25,522 -33,736 December 1982 thorities in exchange markets. The appreciation slowed when the French Government announced the availability of a $4 billion credit line with a consortium of private banks in midSeptember. Altough there were large dollar sales by Japanese authorities, the dollar appreciated 7 percent against the Japanese yen. Political uncertainties in Germany and continued concern over Polish debt renegotiations, in which Germany was heavily involved, contributed to a 4-percent appreciation of the dollar against the German mark. Against the Mexican peso, the dollar appreciated nearly 50 percent. Heavy selling pressure on the peso forced abandonment of a single exchange rate and the implementation of a dual exchange rate system and exchange controls. In contrast, the dollar depreciated 1 percent SURVEY OF CURRENT BUSINESS 39 against the Canadian dollar. Large interest rate differentials in favor of Canada and repatriation of funds borrowed from abroad contributed to a recovery of the Canadian dollar from historic lows reached in June. in volume. The average price per barrel increased 2 percent to $31.27. Imports accounted for a larger share of U.S. crude petroleum supplies than in the two previous quarters, but remained well below earlier quarters, as shown in the accompanying tabulation. Most of the increase was from Indonesia, Nigeria and Mexico. Mexico became the largest single supplier in the second quarter and maintained Merchandise trade The merchandise trade deficit increased to $12.5 billion in the third quarter, compared with a deficit of $5.7 billion in the second—the largest deficit since the first quarter of 1978. Imports increased $4.0 billion, mostly due to an increase in petroleum and products. Exports decreased $2.7 bil- 1980: I lion, mostly due to the drop in agriII cultural products. III IV Imports increased $4.0 billion, or 7 percent, to $64.9 billion. Petroleum imports, up $3.0 billion to $16.5 billion, increased 23 percent, almost all [Percent] 42 40 36 36 1981: I II III IV 38 37 35 34 1982: I II III 32 28 33 Table B.—Selected Transactions with Official Agencies [Millions of dollars] 1981 Line 1982 1981 I II IV III II I r III P Changes in foreign official assets in the U.S., net (decrease -) (line 57, table 1) Industrial countries l Members of OPEC2. Other countries 1 2 3 4 4,785 -12,216 13,314 3,687 5,361 285 5,364 -288 -2,861 -6,682 2,786 1,035 -5,835 -8,296 2,935 -474 8,119 2,477 2,230 3,412 -3,122 -6,762 4,988 -1,348 1,998 -1,939 3,073 864 2,102 1,941 164 -3 Changes in U.S. official reserve assets (increase — ) (line 38, table 1) 5 -5,175 -4,529 -905 -4 262 -1,089 -1,132 -794 Change 1982 IIIII January-September 1981 Change: 1981-82 1982 p 104 3,880 -2,909 -867 -3,335 -14,693 11,085 274 978 -6,760 8,225 -487 4,313 7,933 -2,860 -761 338 -5,438 -3,015 2,423 432 1,682 -1,250 200 -200 832 3,282 -2,450 832 3,082 -2,250 Activity under U.S. official reciprocal currency arrangements with foreign monetary authorities:3 U.S drawings, repayments ( — ), net Drawings . Repayments . . Foreign drawings, or repayments ( — ), net Drawings Repayments 6 6a 6b 7 7a 7b 266' -200 200 200 -200 200 800 -600 -200 r Revised. Preliminary. 1. Western Europe, Canada, Japan, Australia, New Zealand, and South Africa. 2. Based on data for Ecuador, Venezuela, Indonesia, and other Asian and African oil-exporting p 632 2,482 -1,850 countries. 3. Consists of transactions of the Federal Reserve System and the U.S. Treasury Department's Exchange Stabilization Fund. Table C.—Indexes of Foreign Currency Price of the U.S. Dollar [1977 = 100] 19 81 1 Trade-weighted average against 22 OECD currencies Trade-weighted average against 10 currencies2 Selected currencies: 3 Canada United Kingdom European Monetary System currencies: Belgium France . ... Germany Italy Netherlands Switzerland Japan 1982 III IV I II III Oct. Nov. Dec. Jan. Feb. 111.9 106.5 107.7 101.9 114.8 106.4 118.9 110.3 124.2 115.9 110.2 102.9 105.4 101.1 107.6 101.8 110.6 103.5 114 1 949 1122 92.6 1139 94.4 117 2 980 1177 1010 1133 947 111 8 111 6 916 91 6 111 0 117.9 104.6 137 3 109.9 87 2 86.2 1054 115.0 96.7 135.2 100.5 761 83.5 1158 121.9 101.0 143.1 104.9 780 86.9 1257 127.7 102.4 1488 107.4 83 1 90.8 1327 1413 106.9 1582 111.2 88 1 96.5 105 1 114.5 97.0 1349 101.4 784 86.1 1044 114.3 95.9 1345 99.5 743 83.0 1. Australia, Austria, Belgium-Luxembourg, Canada, Denmark, Finland, France, Germany, Greece, Iceland, Ireland, Italy, Japan, the Netherlands, New Zealand, Norway, Portugal, Spain, Sweden, Switzerland, Turkey, United Kingdom. Data: U.S. Department of the Treasury. End-ofmonth rates. Index rebased by BEA. 1981 1982 1068 116.2 97.1 1361 100.7 756 81.4 March April May June July Aug. Sept. 115.7 106.8 118.0 108.8 115.4 110.4 117.4 107.4 123.7 113.2 123.0 115.1 123.9 115.8 125.8 117.0 1123 924 1143 944 1149 966 1153 984 1162 963 1201 992 1196 1004 117 3 101 0 1163 101 8 1089 118.5 98.7 1395 102.4 768 83.6 1148 1223 101.8 143.0 105.6 787 87.5 1238 124.9 102.4 146.8 106.6 786 89.6 1264 1270 103.1 1487 108.3 81 7 90.7 121 8 1225 99.5 1449 104.7 81 2 88.1 1289 133.8 104.5 1527 109.3 865 93.4 131 1 139.4 106.1 1567 110.9 872 95.0 1323 140.9 106.7 158.9 111.1 879 96.4 1347 1437 107.8 1589 111.7 892 98.2 2. Belgium, Canada, France, Germany, Italy, Japan, the Netherlands, Sweden, Switzerland, United Kingdom. Data: Federal Reserve Board. Monthly average rates. Index rebased by BEA. 3. Data: Federal Reserve Board. Monthly average rates. Indexes rebased by BEA. 40 SURVEY OF CURRENT BUSINESS its lead in the third; average prices were 20 percent lower than for supplies from the Middle East and Africa. Imports from Saudi Arabia, also a major supplier, remained at relatively low levels, partly a result of that country's policy of limiting its crude oil production to help stabilize OPEC price levels. Nonpetroleum imports increased $1.0 billion, or 2 percent, to $48.5 billion. Prices decreased 2 percent; volume increased 4 percent. Continued strength of the U.S. dollar and the decline in agricultural and commodity prices in world markets partly offset the impact of the U.S. recession on the value and volume of imports. After an increase in the first quarter, import prices (as measured by Census Bureau unit value indexes) of most major end-use categories declined in the second and third quarters, resuming a trend that began in early 1981. Most major categories of imports increased. Food, feeds, and beverages increased $0.5 billion to $4.8 billion. Coffee accounted for a major part of the increase; sugar imports increased slightly from the low levels that followed the imposition of import quotas in May. Prices of coffee and sugar, and also cocoa, continued to decline. Consumer goods increased $0.6 billion to $10.2 billion. Automotive products increased $0.4 billion to $9.3 billion. An increase of $0.1 billion to $9.2 billion in capital goods was largely microchips from Japan and Southeast Asia and electrical machinery. Nonpetroleum industrial supplies and materials increased $0.1 billion to $13.5 bil- December 1982 lion. Iron and steel products decreased $0.7 billion to $2.2 billion; the reduced level of U.S. oil drilling activity and the threat of imposition of retroactive countervailing duties against products from Western Europe were contributing factors. Other industrial supplies and materials increased $0.8 billion to $11.3 billion—primarily nonferrous metals, particularly gold, and building materials. Other imports, mostly low-value shipments and U.S. goods returned, decreased $0.6 billion, to $1.6 billion, following a large second-quarter increase. Exports decreased $2.7 billion, or 5 percent, to $52.5 billion. Agricultural exports decreased $2.2 billion to $8.5 billion, as prices decreased 4 percent and volume decreased 18 percent. A large part of the decrease was in CHART 11 Indexes of Foreign Currency Price of the U.S. Dollar (1977=100) 130 130 TRADE-WEIGHTED AVERAGES 120 120 110 110 100 100 90 90 80 t i l l I i i 1977 1978 1979 1980 1981 1982 1. Australia, Austria, Belgium-Luxembourg, Canada, Denmark, Finland, France, Germany, Greece, Iceland, Italy, Japan, the Netherlands, New Zealand, Norway, Portugal, Spain, Sweden, Switzerland, Turkey, United Kingdom, Data: U.S. Department of the Treasury. End-of-month rates, index rebased by BEA. 2. Belgium, Canada, France, Germany, Italy, Japan, the Netherlands, Sweden, Switzerland, United Kingdom. Data: Federal Reserve Board. Monthly average rates. Index rebased by BEA. U.S. Department of Commerce, Bureau of Economic Analysis. 80 December 1982 grain exports to Eastern Europe, which were only $0.1 billion, compared with $0.8 billion in the second quarter. Uncertainly early in the quarter as to whether the United States would renew the U.S.S.R. grain pact scheduled to expire September 30 may have contributed to the decline. A new one-year pact was signed at the end of August. Ample world grain supplies and the strength of the dollar also contributed to lower exports to other geographic areas. Nonagricultural exports decreased $0.5 billion to $44.0 billion. Prices were down 1 percent; volume was unchanged. Depressed business conditions abroad and decreased competitiveness of U.S. goods in world markets due to the dollar's strength slowed exports. Capital goods decreased $0.7 billion to $18.6 billion; completed civilian aircraft decreased $0.4 billion and nonelectrical machinery decreased $0.2 billion. Industrial supplies and materials decreased $0.7 billion to $15.5 billion. Coal accounted for almost one-half of the decrease, and iron and steel, chemicals, and most nonferrous metals together accounted for about $0.5 billion; partly offsetting was an increase of $0.2 billion in gold exports. Automotive products were unchanged at $4.4 billion, as an increase to Canada offset a decrease to other areas. The increase in parts to Canada was related to the increase in U.S. imports of finished autos and engines. Consumer goods decreased $0.2 billion to $3.7 billion. Other exports, mostly reexports of foreign merchandise from the United States, increased $0.9 billion. A large part of the increase was in reexports of numismatic coins. The trade surplus declined or the deficit increased with all major geographic area; generally, an increase in imports was accompanied by a decrease in exports. The largest change was in the deficit with the developing countries in Asia and Africa, which increased to $5.4 billion from $3.0 billion, mostly due to an increase in petroleum imports. The deficit with Latin America increased to $2.0 billion from $0.2 billion, largely the result of an increase in the deficit with Mexico. Exports to Argentina remained low although certain U.S. export sanctions imposed during the SURVEY OF CURRENT BUSINESS Falkland Islands crisis were removed in July. Exports to developing countries were restrained by depressed business conditions in a number of those countries, large debt-service payments, and their need to limit current-account deficits. The surplus with Western Europe decreased to $1.3 billion from $2.0 billion. The surplus with Eastern Europe decreased to $0.1 billion for $0.9 billion; shipments of grain to the Soviet Union were sharply lower. Service transactions Net service receipts increased $0.2 billion to $9.9 billion in the third quarter. Receipts decreased $0.5 billion to $35.6 billion, and payments decreased $0.7 billion to $25.7 billion. Unilateral transfers were unchanged at $1.7 billion. Receipts of income on portfolio investment decreased $1.1 billion to $14.8 billion. Payments decreased $0.7 billion to $8.5 billion. Substantial declines in U.S. interest rates contributed to the decreases. Income receipts were not affected significantly by reschedulings of private and Government debt over the past two quarters; with very few exceptions, interest continued to be paid on outsanding debt. U.S. Government income receipts and payments were unchanged at $1.1 billion and $4.4 billion, respectively, despite the drop in interest rates. Receipts of income from U.S. direct investment abroad increased $0.3 billion to $6.0 billion. The increase was due to reduced currency translation losses, which had lowered secondquarter income. Excluding those losses, income decreased $0.3 billion, as weak business conditions abroad continued to reduce affiliates' earnings. The largest decrease was in Western Europe, mostly in the computer and automotive manufacturing industries; income from most other areas, except Canada, was down or practically unchanged. The Canadian increase reflected a shift from currency translation losses to gains. Payments of income on foreign direct investment in the United States increased $0.2 billion to $1.5 billion. The increase was attributable to an increase in the market value of securities held by U.S. insurance af- 41 filiates, as U.S. bond and stock prices rose throughout the quarter. Net travel payments were $0.2 billion, compared with $0.3 billion; payments decreased $0.2 billion to $3.0 billion and receipts were almost unchanged at $2.8 billion. The decrease in payments resulted from a 13-percent drop, to $1.6 billion, in payments to overseas areas, despite an increase in the number of U.S. travelers. Continued dollar strength and moderation of inflation in some overseas countries contributed to the decrease. Partly offsetting was a 4-percent increase, to $0.9 billion, in payments to Mexico. The increase was concentrated in the border area, as the peso fell sharply in exchange markets. Payments to Canada were unchanged at $0.5 billion. There were large offsetting changes in travel receipts from major areas. Receipts from Mexico, reflecting the decline in the value of the peso, decreased 30 percent to $0.6 billion. Restrictions imposed in mid-August on Mexican residents' U.S. dollar deposits in Mexican banks (funds could be withdrawn in pesos only), a limit on foreign exchange for Mexicans traveling abroad, and the reluctance of U.S. merchants and banks in the border area to accept pesos also contributed to the decrease. Receipts from Canada decreased 7 percent to $0.6 billion, mostly due to depressed business conditions in Canada. In contrast, there was an 18-percent increase, to $1.6 billion, in receipts from overseas visitors—largely from the Far East and the Caribbean and Central American region. Passenger fare receipts and payments were virtually unchanged at $0.8 billion and $1.1 billion, respectively. Travelers made increased use of low-priced charter flights, as fares of scheduled flights had increased substantially over the past year. Other transportation receipts were unchanged at $3.0 billion; payments increased $0.1 billion to $2.7 billion. A decrease in freight receipts of U.S. carriers from the decline in U.S. exports was offset by higher port expenditures of foreign carriers from the increase in U.S. imports. An increase in freight payments to foreign carriers—mostly tanker operators— was nearly offset by a decrease in 42 SURVEY OF CURRENT BUSINESS December 1982 Table D.—Selected Direct Investment Transactions With Netherlands Antilles Finance Affiliates [Millions of dollars] 19 81 1 Qftl 1 Q70 I Equity and intercompany accounts Equity Intercompany accounts Income , .. ., Of which' interest ,,..-, .. .. ,, 1982 III 11 IV I II III" 1348 423 1 771 2,710 818 3528 3,647 1 238 4,885 380 -431 811 409 107 516 1 409 249 1 658 1,450 451 1,901 2 132 901 3033 3551 1 370 4921 -96 178 127 329 800 1 188 99 - 175 -235 302 -199 294 267 417 341 461 483 693 2,800 1 283 4084 na na n.a. Not available. p Preliminary. NOTE.—Table shows only transactions with affiliates established primarily to borrow funds abroad and relend them to their U.S. parents. overseas port expenditures of U.S. carriers. Transfers under military sales contracts increased $0.1 billion to $3.4 billion. An increase in deliveries of aircraft to a number of countries was partly offset by lower deliveries of armored vehicles, particulary to the Middle East. Direct defense expenditures abroad decreased $0.2 billion to $2.9 billion. Most types of expenditures were lower; exceptions were increases in personnel expenditures in Western Europe and in reimbursable expenditures for Saudi Arabia for construction and related contractual services. U.S. Treasury. The United States also agreed in August for the Commodity Credit Corporation to guarantee $1.0 billion in commercial loans to Mexico for the purchase of U.S. agricultural products; however, shipments will not begin before October. Net U.S. purchases of foreign securities were a record $3.1 billion, compared with $0,4 billion. The increase was more than accounted for by $3.5 billion in foreign new issues in the United States—also a record—spurred by the sharper decline in U.S. than in Euromarket bond yields (chart 12). New issues of Canadian bonds were $1.3 billion, compared with $0.2 billion. Nearly 50 percent of Canadian U.S. assets abroad external bond placements were in the U.S. official reserve assets increased United States, compared with less $0.8 billion in the third quarter, com- than 10 percent in the previous quarpared with $1.1 billion in the second. ter. International financial organizaHoldings of special drawing rights tions, mainly the World Bank, issued (SDK's) increased $0.4 billion as other $1.0 billion; Western Europe issued countries sold SDR's for dollars. The $0.5 billion; and Australia issued $0.4 U.S. reserve position with the Inter- billion. Net U.S. sales of outstanding national Monetary Fund (IMF) in- foreign bonds were unchanged at $0.5 billion, as were net U.S. purchases of creased $0.5 billion. U.S. holdings of foreign currencies foreign stocks, at $0.1 billion. There were net inflows of $1.0 bildecreased $0.1 billion. Holdings of lion from U.S. direct investment German marks decreased $0.9 billion abroad, compared with $2.6 billion, as due to mark-denominated note redemptions. Net holdings of Mexican inflows on intercompany accounts pesos increased $0.6 billion. There more than offset increases in reinvestwere a number of transactions with ed earnings. U.S. parent corporations Mexico under Federal Reserve and continued to use foreign affiliates in U.S. Treasury official reciprocal cur- the Netherlands Antilles to borrow rency arrangements. Drawings by substantial amounts abroad to meet Mexico amounted to $2.5 billion and their domestic financial requirements repayments were $1.9 billion. Further (table D). By the end of the quarter, U.S. financing to Mexico was provided the rapid drop in new issue rates in by prepayment of $1.0 billion for the United States reduced the incenstepped-up purchases of petroleum tive for such borrowings. Net inflows (for the 12 months beginning in Octo- from these affiliates, at $2.8 billion, ber) for the U.S. strategic petroleum were $0.8 billion less than the previreserve. Of that amount, $0.8 billion ous quarter. In equity and intercomwas used to repay a drawing from the (text continued on p. 60) CHART 12 Selected Interest Rates 18 16 14 12 10 1981 1982 1, Interest rates for other Group of 10 countries and Switzerland weighted by average total trade shares in 1972-76. Data: Federal Reserve Board, U.S. Department of Commerce, Bureau of Economic Analysis 32-12-12 SURVEY OF CURRENT BUSINESS December 1982 43 Table 1-2.—U.S. International Transactions [Millions of dollars] Not seasonally adjusted (Credits +; debits -) l 1981 1981 Line II Exports of goods and services2 Merchandise, adjusted, excluding military 3 Transfers under U S military agency sales contracts Travel „ Passenger fares Other transportation Fees and royalties from affiliated foreigners Fees and royalties from unaffiliated foreigners Other private services U.S. Government miscellaneous services Receipts of income on U.S. Assests abroad: Direct investment Interest dividends and earnings of unincorporated affiliates Reinvested earnings of incorporated affiliates Other private receipts U.S. Government receipts . Transfers of goods and services under U.S. military grant programs, net Imports of goods and services Merchandise, adjusted, excluding military 3 Direct defense expenditures Travel Passenger fares Other transportation Fees and royalties to affiliated foreigners Fees and royalties to unaffiliated foreigners Private payments for other services U.S. Government payments for miscellaneous services Payments of income on foreign assets in the United States: Direct investment Interest, dividends, and earnings of unincorporated affiliates Reinvested earnings of incorporated affiliates Other private payments U.S. Government payments U.S. military grants of goods and services, net Unilateral transfers (excluding military grants of goods and services), U.S. Government grants (excluding military grants of goods and services) U.S. Government pensions and other transfers Private remittances and other transfers U.S. assets abroad, net (increased/capital outflow ( — )) U.S. official reserve assets, net 4 . Gold Special drawing rights Reserve position in the International Monetary Fund Foreign currencies U.S. Government assets, other than official reserve assets, net U S loans and other long-term assets Repayments on U S. loans 5 U.S. Foreign currency holdings and U.S. short-term assets, net U.S. private assets, net .... .. . Direct investment Equity and intercompany accounts Reinvested earnings of incorporated affiliates Foreign securities U.S. claims on unaffiliated foreigners reported by U.S. nonbanking concerns: Long-term Short-term U.S. claims reported by U.S. banks, not included elsewhere: Long-term Short-term Foreign assets in the United States, net (increased/capital inflow III 372,892 236,254 9,747 12,168 2,991 12,168 5,867 1,386 5,940 426 96,129 61,836 2,411 2,985 782 3,032 1,459 340 1,465 99 90,523 55,502 2,741 3,697 996 3,108 1,420 354 1,489 150 93,439 58,622 2,380 2,777 631 3,044 1,629 368 1,541 95 11 12 13 14 15 31,873 18,894 12,978 50,407 3,665 8,435 4,952 3,482 12,501 785 6,466 4,203 2,263 13,602 998 16 17 18 19 20 21 22 23 24 25 26 602 -361,813 -264,143 -11,288 -11,460 -4,487 -11,611 -429 -264 -3,294 -1,930 214 -92,658 -67,489 -2,998 -2,946 -1,365 -3,004 -49 -65 -813 -490 132 -90,580 -64,568 -2,680 -3,832 -1,218 -3,009 -125 -67 -818 -398 II IIP III 1982 85,690 50,221 3,405 3,237 986 3,056 1,497 380 1,686 148 94,389 60,284 2,411 2,841 786 3,020 1,502 340 1,465 98 92,965 57,694 2,741 3,229 763 3,056 1,465 354 1,489 126 92,259 57,593 2,380 3,260 734 3,102 1,444 368 1,541 110 8,442 5,321 3,121 12,863 1,048 5,950 4,661 1,288 14,062 1,044 5,866 4,638 1,228 15,867 948 5,221 4,021 1,200 14,816 1,037 8,231 4,848 3,383 12,501 910 7,450 4,737 2,713 13,602 996 64 -90,210 -66,502 -2,908 -2,313 -890 -2,795 -109 -68 -844 -583 93 -86,653 -62,157 -2,833 -2,507 -1,126 -2,520 -84 -70 -865 -462 125 -88,335 -61,445 -3,088 -3,391 -1,473 -2,652 6 -68 -873 -478 137 -90,538 -63,678 -2,878 -3,929 -1,215 -2,782 -12 -68 -882 -633 214 -91,480 -66,831 -2,998 -2,725 -1,102 -2,959 -49 -65 -813 -497 132 -90,406 -65,539 -2,680 -2,829 -1,108 -2,911 -125 -67 -818 -464 -7,808 -2,079 -2,004 -1,936 -1,392 -899 -3,708 -884 -1,076 -858 -4,099 -1,180 -1,120 -860 -534 -28,352 -7,121 -7,589 -6,975 -8,170 -16,748 -4,241 -4,272 -4,287 -4,467 -214 -602 -132 -64 -93 -1,271 -1,056 -215 -9,249 -4,354 -125 -1,487 -1,378 -109 -8,531 -4,444 -137 -2,079 -899 -1,180 -7,121 -4,241 -214 -6,608 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 -4,504 -1,459 -645 -109,294 -5,175 (*> -1,824 -2,491 -861 -5,137 -9,710 4,370 204 -98,982 -8,691 4,287 -12,978 -5,429 12 -331 13 -1,496 -1,777 -1,936 -2,025 -1,726 -1,623 -1,510 II r I IV 92,902 56,585 3,335 2,999 772 3,026 1,346 375 1,659 123 r IIP 90,193 55,780 3,000 3,216 763 2,989 1,470 r 370 1,623 92 91,266 55,174 3,335 2,862 773 3,014 1,389 375 1,659 123 88,058 52,480 3,405 2,807 752 3,005 1,545 380 1,686 118 7,977 4,677 3,300 12,863 887 5,710 4,881 829 14,062 1,118 5,706 4,538 1,168 15,867 989 6,008 4,528 1,480 14,816 1,056 64 -91,316 -66,778 -2,908 -2,881 -1,130 -2.882 -109 -68 -844 -518 93 -87,070 -61,653 -2,833 -3,187 -1,278 -2,569 -84 -70 -865 -502 125 -87,295 -60,869 -3,088 -3,166 -1,192 -2,610 6 -68 -873 -561 137 -90,632 -64,938 -2,878 -2,965 -1,109 -2,691 -12 -68 -882 -627 -2,004 -1,936 -1,392 -884 -1,076 -858 -1,120 -860 -534 -7,589 -6,975 -8,170 -4,272 -4,287 -4,467 -64 -132 -93 -1,271 -1,056 -215 -9,249 -4,354 -125 -1,487 -1,378 -109 -8,531 -4,444 -137 -1,808 -1,740 -1,653 -1,870 -2,048 -986 -1,250 -1,308 -1,473 -1,069 -1,051 -986 -1,250 -1,308 -1,473 -1,069 -1,051 -334 -334 -395 -395 -316 -385 -382 -395 -382 -395 -385 -316 -177 -133 -272 -190 -167 -233 -236 -190 -220 -286 -163 -259 -21,638 -16,816 -47,423 -31,753 -37,826 -26,093 -21,566 -17,257 -47,677 -31,201 -37,790 -26,364 -905 -4 262 -1,089 -1,132 -905 -794 -4 -794 262 -1,089 -1,132 -23 -780 -102 -1,492 -2,374 1,071 -189 -19,242 -5,203 -1,721 -3,482 -1,511 12 2,470 -225 -134 -400 -647 -358 -547 868 754 -142 -1,266 -912 -997 -2,428 -2,313 -1,860 1,107 1,244 915 54 157 -52 -15,546 -46,773 -29,667 -529 -111 -540 1,734 2,344 748 -2,263 -3,121 -1,288 -618 -2,843 -531 12 855 12 -508 12 4,112 -241 -814 -77 -1,523 -2,535 1,014 -2 -35,170 2,498 3,725 -1,228 -441 12 -304 -434 -459 99 -2,427 -3,457 1,019 11 -22,872 1,264 2,4G3 -1,200 -3,103 n.a. -23 -780 -102 -1,518 -2,374 1,045 -189 -19,143 -5,104 -1,721 -3,383 -1,511 12 -434 -134 -241 -225 -400 -814 -647 -459 -358 -547 -77 99 754 868 -142 -1,257 -987 -904 -1,547 -2,418 -2,428 -2,313 -1,860 -2,535 -3,457 990 1,117 1,028 1,008 1,169 11 157 54 -2 -52 -15,996 -46,952 -29,208 -35,111 -23,152 983 2,557 -979 -81 -956 2,463 2,344 1,734 3,725 748 -2,713 -3,300 -829 -1,168 - 1,480 -531 -441 -3,103 -618 -2,843 12 2,470 855 12 -508 12 4,112 12 -304 n.a. (13) (13) (13) (13) (13) (13) (13) (13) (13) (13) (13) 54 \ ( ) 55 / -84,531 -14,998 -15,254 -42,645 -32,708 -36,923 -21,032 -14,998 -15,254 -42,645 -32,708 -36,923 -21,032 (13) 56 77,921 13,464 16,880 Foreign official assets in the United States, net 57 4,785 -2,861 -5,835 U.S. Government securities6 58 6,272 -1,527 -4,090 U.S Treasury securities 59 4,983 -2,063 -4,635 7 Other 60 1,289 536 545 Other U.S. Government liabilities 8 61 -69 48 -337 U.S. liabilities reported by U.S. banks, not included elsewhere 62 -2,028 -4,083 -2,382 Other foreign official assets 9 63 2,665 647 974 Other foreign assets in the United States, net 64 73,136 16,324 22,715 Direct investment . 21,301 65 4,540 4,478 Equity and intercompany accounts 17,201 66 3,360 3,358 Reinvested earnings of incorporated affiliates 67 4,099 1,180 14 1,120 14 U S Treasury securities 2,932 68 750 -446 U.S. securities other than U.S. Treasury securities 69 3,533 7,109 761 U.S. liabilities to unaffiliated foreigners reported by U.S. nonbanking concerns: Long-term 70 Short-term 71 | 12532 12-162 12 1,006 U.S. liabilities reported by U.S. banks, not included elsewhere: Long-term 1010 72 | 41,262 7,663 16,916 Short-term 73 Allocations of special drawing rights 74 1,093 Statistical discrepancy (sum of above items with sign reversed) 75 25,809 1J70 £200 Of which seasonal adjustment discrepancy 75a Memoranda: Balance on merchandise trade (lines 2 and 18)n 76 -27,889 -5,653 -9,066 Balance on goods and services (lines 1 and 17) 77 11,079 3,471 -57 Balance on goods, services, and remittances (lines 77, 35, and 36) 78 8,975 -584 2,961 Balance on current account (lines 77 and 33) n 4,471 79 1,975 -1,834 Transactions in U.S. official reserve assets and in foreign official assets in the United States: Increase ( — ) in U.S. official reserve assets, net (line 38) -5,175 80 -905 -4 Increase ( + ) in foreign official assets in the United States (line 57 4,854 -2,908 -5,498 less line 61) 81 See footnotes on page 53. r 1981 89,407 55,216 3,000 3,076 630 2,983 1,372 r 370 1,623 82 33 52 53 J II r I IV 1 2 3 4 5 6 7 8 9 10 27 28 29 30 31 32 Seasonally adjusted 1982 39,107 8,119 4,193 4,439 -246 275 3,436 215 30,988 9,336 8,475 860 14 1,238 396 25,080 29,619 -16,054 -3,122 1,998 2,102 -1,640 -1,818 4,779 -1,344 -2,076 4,880 258 -296 -101 387 -182 -509 -1,516 3,393 -2,160 36 216 -8 28,202 27,621 13,952 1,165 2,781 2,286 632 2,566 2,177 215 534 109 1,277 14 2,095 14 1,308 2,497 1,319 134 12 12 -457 20,476 7^23 -982 25,423 r 5,944 12 13,464 -2,861 -1,527 -2,063 536 48 -2,028 647 16,324 4,540 3,360 1,180 750 3,533 16,880 -5,835 -4,090 -4,635 545 -337 -2,382 974 22,715 4,478 3,358 1,120 14 -446 761 12 12 39,107 8,119 4,193 4,439 -246 275 3,436 215 30,988 9,336 8,475 860 u - 1,238 396 12 - 2,304 n.a. 22,552 10,224 7,663 16,916 20,476 5,366 16,510 6,703 -374 503 -2,144 9,497 2,474 -162 -4,860 - 13,457 -6,547 -7,880 -6,941 4,567 -4,848 3,229 r 2,754 2,909 2,601 r 2,202 3,909 -5,420 2,385 r 1,293 729 2,841 -6,471 1,399 262 -1,089 -1,132 7,844 -2,940 1,611 -794 -905 1,006 -457 25,080 -3,122 -1,640 -1,344 -296 -182 -1,516 216 28,202 1,165 632 534 1,277 1,319 12 -982 25,423 r 5,045 -899 29,619 1,998 -1,818 -2,076 258 387 3,393 36 27,621 2,781 2,566 215 14 2,095 2,497 2 16,054 2,102 4,779 4,880 -101 -509 -2,160 -8 13,952 2,286 2,177 109 14 1,308 134 - 2,304 n.a. 22,552 10,224 5,940 574 U,531 -1,973 -7,845 -9,185 -5,873 -5,695 -12,458 2,559 943 r'3,123 3,971 -2,574 3,300 -3,176 2,001 381 r 2,548 -927 2,231 -4,227 751 1,075 -4 262 -1,089 -1,132 2,611 -2,908 -5,498 7,844 -2,940 1,611 -794 2,611 SURVEY OF CURRENT BUSINESS 44 December 1982 Table 3.—U.S. Merchandise Trade [Millions of dollars] Not seasonally adjusted Line 1981 II I Balance of payments adjustments to Census trade data: Seasonally adjusted 1982 1981 IV HI II I r 1981 IIP I 1982 III II II r I IV III" A EXPORTS Merchandise exports, Census basis1 including reexports and excluding military grant shipments Adjustments: Private sift parcel remittances Gold exports nonrnonetary / Inland U S freight to Canada U.S.-Canadian reconciliation adjustments, n.e.c., net2.. Merchandise exports transferred under U.S. military agency3 sales contracts identified in Census documents Other adjustments, net 4 Of which quarterly seasonal adjustment discrepancy5 Equals: Merchandise exports, adjusted to balance of payments basis, excluding "military" (table 1, line 2) 1 233,677 59,718 60,750 55,145 58,064 55,295 57,011 50,214 59,968 58,435 57,871 57,201 56,042 54,883 52,912 2 229 49 46 49 85 53 51 36 49 46 49 85 53 51 36 3 1,285 321 307 363 294 250 140 198 321 307 363 294 250 140 198 4 5 1,151 4,271 282 1,041 313 1,204 281 1,023 275 1,003 242 1,084 252 1,202 236 1,056 295 1,041 294 1,204 293 1,023 269 1,003 250 1,084 238 1,202 247 1,056 -4,921 -1,010 -107 562 -1,204 420 -1,202 -157 -1,505 -1,615 -1,827 406 -93 -244 -1,688 169 -1,010 19 -1,204 1,202 -1,202 -703 -1,505 -1,615 -1,827 487 246 -284 -1,688 -281 126 782 6 7 8 -546 -160 -191 731 -450 9 236,254 60,294 61,836 55,502 58,622 55,216 56,585 50,221 60,683 60,284 57,694 57,593 55,780 55,174 52,480 10 261,305 65,064 66,752 63,716 65,773 61,694 60,498 62,819 65,615 65,537 64,718 65,468 62,268 59,255 63,697 11 12 1,816 476 441 672 227 211 311 546 476 441 672 227 211 311 546 13 14 -307 1,329 -75 119 -81 377 -76 256 -75 577 -129 381 -108 744 -75 -92 405 -1,021 -81 934 -76 225 -75 1,158 -108 1,411 -92 787 -1,108 565 -51 561 -1,043 672 358 IMPORTS Merchandise imports, Census basis1 (general imports)... Adjustments: Gold imports, nonmonetary U.S.-Canadian reconciliation adjustments, n.e.c., net2.. Merchandise imports of U.S.3 military agencies identified in Census documents Other adjustments, net 6 Of which quarterly seasonal adjustment discrepancy5 Equals: Merchandise imports, adjusted to balance of payments basis, excluding "military" (table 1, line 18) Merchandise trade, by area, adjusted to balance of payments basis, excluding military: 7 15 16 264,143 -129 -697 65,584 67,489 64,568 66,502 62,157 61,445 63,678 64,995 66,831 65,539 66,778 61,653 60,869 64,938 B EXPORTS 1 236,254 60,294 61,836 55,502 58,622 55,216 56,585 50,221 60,683 60,284 57,694 57,593 55,780 55,174 52,480 Western Europe European Communities (10)... United Kingdom European Communities (6). Germany Western Europe, excluding EC (10) 2 3 4 5 6 7 65,090 51,351 12,419 36,330 10,531 13,739 17,101 13,527 3,304 9,578 2,748 3,574 16,578 13,140 3,404 9,047 2,736 3,438 15,103 11,912 2,967 8,326 2,446 3,191 16,308 12,772 2,744 9,379 2,601 3,536 15,756 12,321 2,692 9,018 2,402 3,435 15,798 12,438 2,684 9,148 2,290 3,360 13,693 10,749 2,558 7,600 1,902 2,944 16,442 13,050 3,196 9,237 2,595 3,392 16,193 12,767 3,144 8,958 2,714 3,426 16,300 12,899 3,259 8,978 2,643 3,401 16,155 12,635 2,820 9,157 2,579 3,520 15,288 11,951 2,606 8,734 2,253 3,337 15,479 12,049 2,461 9,015 2,264 3,430 14,947 11,691 2,828 8,231 2,059 3,256 Eastern2 Europe Canada .... Latin American Republics and other Western Hemisphere Mexico 8 9 4,461 45,250 1,594 11,153 877 12,991 782 10,592 1,208 10,514 1,608 9,822 1,022 10,694 373 9,503 1,466 11,277 978 12,204 923 11,304 1,094 10,465 1,483 9,945 1,140 10,006 394 10,123 10 11 42,804 18,207 10,765 4,249 11,313 5,031 10,218 4,448 10,508 4,479 8,730 3,620 9,383 3,580 8,187 2,807 11,455 4,381 11,105 4,839 10,217 4,577 10,027 4,410 9,304 3,747 9,184 3,432 8,279 2,896 Japan Australia, New Zealand and South Africa Other countries in Asia and Africa 12 13 14 21,796 8,998 47,855 5,599 1,983 12,099 5,204 2,495 12,378 5,169 2,233 11,405 5,824 2,287 11,973 5,199 2,022 12,079 5,068 2,245 12,375 5,116 1,868 11,481 5,500 1,983 12,560 5,359 2,495 11,950 5,293 2,233 11,424 5,644 2,287 11,921 5,151 2,022 12,587 5,213 2,245 11,907 5,265 1,868 11,604 15 141,134 16 21,093 17 69,543 35,836 4,971 17,893 37,268 5,472 18,219 33,097 5,233 16,390 34,933 5,417 17,041 32,799 5,309 15,500 33,805 5,476 16,282 30,180 4,981 14,687 35,202 5,232 18,783 36,251 5,244 17,811 35,130 5,264 16,377 34,551 5,353 16,572 32,406 5,593 16,298 32,943 5,236 15,855 32,203 4,998 14,885 18 264,143 19 52,873 20 41,424 21 12,746 22 26,985 23 11,389 24 11,449 65,584 12,586 9,592 2,821 6,360 2,751 2,994 67,489 13,301 10,518 3,260 6,840 2,886 2,783 64,568 13,580 10,770 3,745 6,603 2,711 2,810 66,502 13,406 10,544 2,920 7,182 3,041 2,862 62,157 12,740 10,068 2,817 6,820 2,940 2,672 61,445 13,681 10,862 3,107 7,308 3,237 2,819 63,678 13,159 10,581 3,427 6,762 2,843 2,578 64,995 12,479 9,542 2,792 6,348 2,745 2,937 66,831 13,068 10,385 3,252 6,715 2,768 2,683 65,539 13,963 11,010 3,797 6,759 2,815 2,953 66,778 13,363 10,487 2,905 7,163 3,061 2,876 61,653 12,614 10,000 2,781 6,796 2,930 2,614 60,869 13,476 10,751 3,111 7,193 3,104 2,725 64,938 13,626 10,882 3,489 6,965 2,958 2,744 Total, all countries (A-9) Memoranda: 7 Industrial countries 7 Members of OPEC 7 Other countries IMPORTS Total, all countries (A-16) Western Europe Euopean Communities10 United Kingdom European Communities (6) Germany Western Europe excluding EC (10) Eastern2 Europe Canada . ... .. 25 26 1,552 47,316 450 11,410 400 12,324 367 11,192 335 12,390 265 11,540 288 12,674 296 11,891 446 11,446 402 11,857 367 12,036 337 11,977 264 11,556 290 12,271 295 12,820 Latin American Republics and other Western Hemisphere Mexico 27 28 39,099 13,767 10,139 3,190 9,654 3,526 9,520 3,230 9,786 3,821 9,207 3,683 9,262 3,831 9,927 4,105 9,759 3,037 9,712 3,451 9,815 3,462 9,813 3,817 8,833 3,519 9,378 3,783 10,241 4,345 Japan Australia, New Zealand, and South Africa Other countries in Asia and Africa 29 30 31 37,598 5,608 80,097 8,550 1,396 21,053 9,416 1,434 20,960 9,587 1,336 18,986 10,045 1,442 19,098 9,993 1,135 17,277 9,647 1,192 14,701 9,586 1,367 17,452 8,694 1,476 20,695 9,120 1,416 21,256 9,486 1,392 18,480 10,298 1,324 19,666 10,168 1,198 17,020 9,373 1,183 14,898 9,540 1,436 16,980 32 143,395 33 49,934 34 69,262 33,942 14,529 16,663 36,475 13,347 17,267 35,695 10,897 17,609 37,283 11,161 17,723 35,408 9,852 16,632 37,194 6,478 17,462 36,003 8,250 19,129 34,095 14,017 16,437 35,461 13,681 17,287 36,877 10,831 17,464 36,962 11,405 18,074 35,536 9,462 16,391 36,303 6,668 17,585 37,422 8,195 19,026 Memoranda: 7 Industrial countries 7 Members of OPEC 7 Other countries See footnotes on page 53. SURVEY OF CURRENT BUSINESS December 1982 45 Table 3.—U.S. Merchandise Trade—Continued [Millions of dollars] Not seasonally adjusted Line 1981 1981 I Merchandise trade, by area, adjusted to balance of payments basis, excluding military — Continued II Seasonally adjusted 1982 III IV I II r 1982 1981 IIP I II III IV II r I IIP B BALANCE (EXCESS OF EXPORTS + ) Total, all countries 35 -27,889 -5,290 36 37 38 39 40 41 12,217 9,927 -327 9,345 -858 2,290 4,515 3,935 483 3,218 -3 580 3,277 2,622 144 2,207 -150 655 Eastern2 Europe Canada Latin American Republics and Other Western Hemisphere Mexico 42 43 2,909 -2,066 1,144 -257 477 667 44 45 3,705 4,440 626 1,059 1,659 1,505 Japan Australia, New Zealand, and South Africa Other countries in Asia and Africa 46 -15,802 47 3,390 48 -32,242 Western Europe European Communities (10) United Kingdom European Communities (6) Germany Western Europe excluding EC(10) -2,951 -4,212 1,067 587 -8,954 -8,582 Memoranda: Industrial countries7 7 Members of OPEC Other countries7 1,894 49 -2,261 50 -28,841 -9,558 281 51 1,230 Merchandise trade, by principal end use category, adjusted 2 to balance of payments basis, excluding military. C -4,312 -6,547 2,117 1,576 -423 1,840 -947 541 534 168 -869 838 -941 366 3,963 3,508 404 2,889 -150 455 3,125 2,382 -108 2,243 -54 743 2,337 1,889 -538 2,219 -172 448 873 415 1,343 734 -600 -1,876 -1,718 -1,980 77 -2,388 1,020 -169 576 347 556 -732 121 -1,740 -251 -1,298 1,696 1,344 1,393 1,388 402 1,115 -5,653 -9,066 1,523 1,142 -778 1,723 -265 381 698 1,218 -7,880 2,902 2,228 -176 2,197 -440 674 722 658 -6,941 -4,860 -13,457 3,016 2,253 -125 2,198 -538 763 -477 -63 -4,418 -4,221 -4,794 -4,579 897 845 887 1,053 -7,581 -7,125 -5,198 -2,326 793 -2,598 -2,350 -7,875 -5,664 -5,744 952 -1,219 -682 -7,845 -9,185 -5,873 -5,695 -12,458 2,792 2,148 -85 1,994 -482 644 2,674 1,951 -175 1,938 -677 723 2,003 1,298 -650 1,822 -840 705 1,321 809 -661 1,266 -899 512 850 757 1,219 99 -1,512 -1,611 -2,265 -2,697 214 593 471 228 -194 -351 -1,962 -1,449 -4,470 -3,194 -3,761 -4,193 -4,654 -5,017 -4,160 -4,275 501 507 1,079 841 824 1,062 432 963 -5,971 -8,135 -9,306 -7,056 -7,745 -4,433 -2,991 -5,376 1,107 -2,609 -3,389 -5,823 790 -1,747 -2,411 -3,130 -3,360 -5,219 -4,543 -1,002 -3,269 -8,785 -8,437 -5,567 -6,052 -3,869 -1,432 -3,197 524 -1,087 -1,502 -1,132 -1,180 -4,442 2,346 -93 -1,730 -4,141 EXPORTS 1 236,254 60,294 61,836 55,502 58,622 55,216 56,585 50,221 60,683 60,284 57,694 57,593 55,780 55,174 52,480 2 44,264 3 191,990 12,815 47,479 10,776 51,060 9,161 46,341 11,512 47,110 10,686 44,530 10,217 46,368 7,555 42,666 12,575 48,108 11,151 49,133 9,947 47,747 10,591 47,002 10,510 45,270 10,673 44,501 8,496 43,984 4 5 6 7 8 9 38,314 37,082 22,128 6,223 8,730 1,232 10,760 10,562 6,480 1,938 2,145 198 9,320 9,074 5,456 1,391 2,227 246 8,423 7,906 5,046 935 1,925 517 9,811 9,540 5,147 1,960 2,432 271 8,765 8,597 5,018 1,763 1,816 167 8,754 8,553 4,944 1,646 1,963 201 6,801 6,288 3,551 1,151 1,586 513 10,996 10,700 6,770 1,713 2,217 296 9,670 9,368 5,691 1,472 2,206 301 8,718 8,342 4,731 1,479 2,132 375 8,931 8,671 4,937 1,559 2,175 260 8,999 8,758 5,345 1,542 1,872 240 9,170 8,931 5,244 1,747 1,940 239 7,253 6,888 3,357 1,769 1,762 365 Industrial supplies and materials Agricultural Nonagricultural Energy products Fuels and lubricants Petroleum and products Other nonagricultural Nonmonetary gold .... 10 11 12 13 14 15 16 17 69,820 6,671 63,149 10,746 10,725 3,769 52,403 4,398 18,325 2,104 16,221 2,414 2,409 899 13,807 1,370 17,702 1,555 16,147 2,108 2,102 806 14,038 1,283 16,492 1,154 15,338 2,851 2,846 817 12,486 1,108 17,301 1,857 15,444 3,373 3,368 1,247 12,071 637 16,900 1,981 14,918 3,510 3,505 1,742 11,408 430 16,726 1,563 15,163 3,433 3,427 1,521 11,730 359 15,044 1,157 13,887 3,066 3,063 1,468 10,821 581 18,240 1,727 16,512 2,617 2,612 926 13,895 1,370 17,212 1,637 15,575 2,055 2,049 779 13,520 1,283 16,951 1,504 15,447 2,864 2,859 828 12,584 1,108 17,417 1,803 15,614 3,210 3,205 1,236 12,404 637 17,054 1,644 15,410 3,952 3,947 1,798 11,457 430 16,141 1,641 14,500 3,233 3,227 1,465 11,267 359 15,452 1,497 13,955 3,028 3,025 1,491 10,927 581 Capital goods, except automotive Machinery, except consumer-type Civilian aircraft, complete — all types Parts and engines for civilian aircraft Other transportation equipment 18 19 20 21 22 81,666 65,752 8,878 4,854 2,182 19,895 16,094 2,074 1,263 464 21,697 17,086 2,817 1,199 595 19,771 16,188 1,902 1,183 497 20,304 16,384 2,086 1,209 625 19,174 15,687 1,766 1,159 563 19,846 16,434 1,391 1,315 705 18,137 15,396 975 1,199 567 20,122 16,212 2,178 1,269 464 21,107 16,496 2,851 1,168 591 20,236 16,614 1,912 1,213 498 20,201 16,431 1,936 1,204 629 19,354 15,777 1,843 1,172 562 19,310 15,925 1,422 1,263 701 18,571 15,795 980 1,228 568 Automotive vehicles, parts and engines To Canada8 To all other areas 23 24 25 19,096 11,185 7,912 4,731 2,842 1,889 5,663 3,586 2,077 4,402 2,474 1,928 4,301 2,283 2,018 4,312 2,491 1,822 4,954 3,171 1,783 3,832 2,432 1,400 4,741 2,821 1,919 5,119 3,129 1,990 5,041 3,011 2,030 4,195 2,223 1,973 4,319 2,464 1,855 4,485 2,782 1,703 4,439 2,961 1,478 Consumer goods (nonfood), except automotive All other, including balance of payments adjustments not included in lines C 4-26 26 16,295 4,191 4,344 3,918 3,842 3,706 3,993 3,539 4,166 4,175 4,070 3,883 3,678 3,844 3,672 27 11,063 2,391 3,111 2,496 3,065 2,359 2,312 2,868 2,418 3,002 2,677 2,967 2,376 2,224 3,093 28 264,143 65,584 67,489 64,568 66,502 62,157 61,445 63,678 64,995 66,831 65,539 66,778 61,653 60,869 64,938 21,324 44,260 20,277 47,212 18,287 46,281 17,691 48,811 16,334 45,823 13,003 48,442 16,571 47,107 20,533 44,462 20,798 46,034 18,158 47,382 18,091 48,687 15,652 46,001 13,416 47,453 16,453 48,485 Total (A-9) Agricultural products Nonagricultural products Foods, feeds, and beverages Foods, feeds and beverages — agricultural Grains Soybeans Other argicultural foods, feeds, and beverages Nonagricultural foods, feeds, and beverages IMPORTS Total (A-16) Petroleum and products Nonpetroleum products 29 30 77,579 186,564 Foods feeds and beverages 31 18,113 4,854 4,666 4,136 4,456 3,759 4,380 4,408 4,882 4,491 4,450 4,290 3,724 4,295 4,772 Industrial supplies and materials ... Engery products Fuels and lubricants Nonenergy products Nonmonetary gold 32 137,860 33 83,470 34 82,531 35 54,389 4,014 36 35,846 22,931 22,692 12,915 943 35,948 21,678 21,410 14,271 1,035 33,464 19,680 19,503 13,784 1,113 32,602 19,183 18,925 13,419 924 30,601 18,088 17,828 12,513 757 26,791 14,358 14,173 12,433 649 29,700 18,066 17,865 11,634 983 35,007 21,930 21,724 13,077 943 36,003 22,181 21,922 13,822 1,035 33,656 19,739 19,542 13,917 1,113 33,193 19,620 19,342 13,573 924 29,882 17,189 16,965 12,693 757 26,838 14,760 14,580 12,078 649 29,938 18,157 17,932 11,781 983 Capital goods, except automotive.... Machinery, except consumer-type Civilian aircraft engines, and parts Other transportation equipment 37 38 39 40 34,575 30,502 3,749 325 8,087 7,032 940 115 8,564 7,601 894 69 8,656 7,776 820 60 9,269 8,092 1,096 81 8,661 7,675 925 60 9,358 8,268 900 191 9,036 8,259 736 41 8,176 7,119 942 115 8,295 7,378 847 69 8,785 7,861 864 60 9,319 8,143 1,095 81 8,773 7,786 926 60 9,101 8,054 857 190 9,153 8,331 781 41 Automotive vehicles, parts and engines From Canada From all other areas 41 42 43 29,737 10,383 19,354 7,115 2,217 4,898 7,865 2,808 5,057 6,776 2,292 4,483 7,980 3,065 4,915 8,112 2,908 5,204 9,366 4,010 5,356 8,085 3,123 4,962 6,712 2,062 4,650 7,465 2,654 4,811 7,698 2,880 4,818 7,862 2,787 5,074 7,658 2,715 4,943 8,929 3,840 5,089 9,322 3,948 5,374 Consumer goods (nonfood) except automotive All other, including balance of payments adjustments not included in line C 31-44 44 38,664 8,725 9,134 10,293 10,512 9,578 9,352 10,882 9,216 9,288 9,682 10,478 10,124 9,540 10,155 45 5,195 957 1,311 1,244 1,683 1,446 2,198 1,567 1,001 1,291 1,268 1,635 1,492 2,166 1,598 See footnotes on page 53. SURVEY OF CURRENT BUSINESS 46 December 1982 Table 3.—U.S. Merchandise Trade—Continued [Millions of dollars] Not seasonally adjusted Line 1981 I Merchandise trade, by end-use category, Census basis,1 including military grant shipments: Foods feeds and beverages Agricultural Grains and preparations Soybeans Other agricultural foods, feeds and beverages III IV II r I IIP II I 1982 III IV I IF IIP D Merchandise exports, Census basis, including military grant shipments (A-l) Agricultural products Nonagricultural products Excluding military grant shipments II Seasonally adjusted 1981 1982 1981 233,739 59,738 60,762 55.155 58,084 55,314 57,027 50,240 60,114 59,230 57,333 57,062 55,869 55,630 52,488 2 43,815 3 189,924 4 189,862 12,699 47,039 47,019 10,646 50,116 50,104 9,067 46,088 46,079 11,403 46,681 46,660 10,557 44,756 44,738 10,107 46,920 46,904 7,432 42,809 42,783 12,460 47,654 47,634 11,022 48,208 48,196 9,852 47,481 47,472 10,480 46,583 46,562 10,381 45,487 45,469 10,563 45,067 45,051 8,372 44,116 44,090 5 37,888 10,655 9,196 8,327 9,710 8,648 8,649 6,678 10,890 9,546 8,622 8,830 8,881 9,065 7,130 6 7 8 9 36,673 22,060 6,186 8,427 10,457 6,463 1,926 2,068 8,950 5,423 1,379 2,148 7,820 5,054 926 1,840 9,446 5,121 1,955 2,370 8,485 4,976 1,762 1,747 8,453 4,928 1,645 1,880 6,173 3,538 1,117 1,518 10,594 6,753 1,702 2,140 9,244 5,658 1,460 2,127 8,256 4,739 1,470 2,047 8,578 4,911 1,553 2,113 8,646 5,303 1,541 1,802 8,831 5,228 1,746 1,857 6,773 3,344 1,735 1,694 10 1,215 198 246 507 264 162 196 505 296 301 365 253 236 234 356 11 67,674 17,802 17,184 15,947 16,742 16,398 16,321 14,611 17,716 16,695 16,406 16,858 16,552 15,736 15,019 Agricultural Raw cotton including linters Tobacco, unmanufactured Other agricultural industrial supplies (hides, tallow, etc.) 12 13 14 6,630 2,227 1,458 2,095 915 300 1,549 540 325 1,145 288 281 1,841 534 552 1,964 757 355 1,553 521 352 1,148 350 228 1,717 714 279 1,631 507 394 1,494 402 396 1,787 654 388 1,627 570 337 1,631 475 425 1,488 478 325 15 2,895 880 684 576 755 852 680 570 724 730 696 745 720 730 686 Nonagricultural Fuels and lubricants 9 Coal and related fuels Petroleum and products 16 17 18 19 61,044 10,725 6,019 3,769 15,707 2,409 1,145 899 15,635 2,102 1,066 806 14,802 2,846 1,834 817 14,900 3,368 1,974 1,247 14,434 3,505 1,503 1,742 14,768 3,427 1,809 1,521 13,463 3,062 1,443 1,468 15,998 2,612 1,321 926 15,064 2,049 1,039 779 14,912 2,859 1,836 828 15,071 3,205 1,822 1,236 14,925 3,947 1,889 1,798 14,105 3,227 1,664 1,465 13,531 3,025 1,383 1,491 20 4,968 1,263 1,340 1,207 1,158 1,115 1,180 1,067 1,322 1,261 1,211 1,173 1,167 1,111 1,071 21 22 3,764 17,962 964 4,538 1,014 4,575 910 4,412 877 4,437 769 4,373 765 4,504 619 4,243 969 4,542 992 4,425 942 4,374 863 4,621 772 4,374 748 4,360 644 4,237 23 24 25 9,416 900 3,390 2,430 197 857 2,586 309 884 2,229 189 797 2,171 204 852 2,168 147 719 2,274 270 672 2,038 190 576 2,407 233 858 2,414 273 875 2,291 183 813 2,305 211 844 2,145 158 719 2,121 239 665 2,096 181 588 26 27 28 9,920 3,760 80,173 3,050 1,290 19,580 2,824 1,144 21,296 2,212 891 19,402 1,834 434 19,895 1,638 269 18,764 1,676 310 19,440 1,667 493 17,770 3,056 1,290 19,808 2,775 1,144 20,706 2,240 891 19,867 1,850 434 19,792 1,644 269 18,944 1,634 310 18,904 1,689 493 18,204 Nonagricultural (fish, distilled beverages, etc.) Industrial supplies and materials Paper and paper base stocks Textile supplies and materials Chemicals, excluding medicinals Other nonmetals (minerals, wood, rubber, tires, etc ) Steel making materials Iron and steel products Other metals, primary and advanced, including advanced steel Precious metals (gold, silver, platinum) Capital goods except automotive Machinery except consumer-type Electrical and electronic, including parts and attachments Nonelectrical, including parts and attachments Construction machinery and nonfarm tractors... Textile and other specialized industry machinery Other industrial machinery, n.e.c Agricultural machinery and farm tractors Business and office machines, computers, etc Electronic computers and parts Scientific, professional, and service industry equipment 29 64,524 15,799 16,748 15,890 16,086 15,364 16,111 15,104 15,916 16,159 16,315 16,133 15,454 15,601 15,503 30 31 32 12,920 51,605 11,614 3,140 12,659 2,760 3,335 13,414 3,025 3,144 12,747 3,013 3,301 12,785 2,816 3,092 12,272 2,729 3,455 12,656 2,782 3,329 11,775 2,642 3,186 12,730 2,864 3,195 12,964 2,879 3,247 13,068 3,009 3,291 12,842 2,862 3,138 12,316 2,811 3,310 12,290 2,677 3,440 12,063 2,641 33 34 35 36 37 4,187 17,243 2,232 10,562 8,837 1,044 4,233 569 2,593 2,165 1,094 4,496 655 2,639 2,197 1,000 4,246 504 2,591 2,179 1,049 4,268 504 2,738 2,295 934 4,158 521 2,588 2,150 963 4,036 541 2,860 2,415 876 3,862 399 2,690 2,282 1,070 4,236 549 2,574 2,159 1,056 4,345 572 2,662 2,218 1,043 4,375 543 2,649 2,219 1,018 4,287 568 2,677 2,241 955 4,155 503 2,570 2,146 931 3,907 473 2,880 2,433 914 3,972 427 2,750 2,324 38 5,767 1,459 1,504 1,393 1,411 1,342 1,474 1,306 1,439 1,449 1,450 1,429 1,322 1,422 1,360 39 40 41 13,467 8,613 2,182 3,317 2,054 464 3,952 2,753 595 3,014 1,831 497 3,184 1,975 625 2,837 1,678 563 2,625 1,309 705 2,099 900 567 3,427 2,159 464 3,956 2,788 591 3,053 1,841 498 3,030 1,825 629 2,928 1,756 562 2,603 1,340 701 2,133 905 568 42 17,988 4,417 5,268 4,193 4,110 4,074 4,631 3,584 4,427 4,724 4,832 4,004 4,081 4,162 4,191 43 44 10,076 7,912 2,528 1,889 3,191 2,077 2,265 1,928 2,092 2,018 2,253 1,822 2,848 1,783 2,184 1,400 2,507 1,919 2,734 1,990 2,802 2,030 2,032 1,973 2,226 1,855 2,459 1,703 2,713 1,478 Passenger cars, new and used Trucks, buses, and special vehicles Bodies engines parts and accessories n e e 45 46 47 4,005 3,310 10,672 1,058 851 2,507 1,270 921 3,076 878 783 2,532 799 755 2,556 653 695 2,726 991 715 2,925 629 493 2,462 1,061 880 2,486 1,072 843 2,809 1,160 819 2,853 712 767 2,525 658 717 2,706 840 655 2,667 841 515 2,835 Consumer goods (nonfood), except automotive Consumer durables manufactured Consumer nondurables, manufactured Unmanufactured consumer goods (gem stones) 48 49 50 51 15,868 6,976 8,336 556 4,077 1,787 2,130 160 4,222 1,896 2,176 150 3,823 1,676 2,016 132 3,746 1,617 2,014 115 3,598 1,499 1,999 100 3,878 1,674 2,099 105 3,423 1,397 1,941 86 4,052 1,807 2,100 145 4,053 1,772 2,131 150 3,975 1,762 2,066 148 3,787 1,635 2,039 113 3,570 1,514 1,964 91 3,729 1,563 2,060 105 3,556 1,471 1,989 96 Special category (military-type goods) 52 4,178 905 1,052 1,015 1,206 1,382 1,585 1,579 905 1,052 1,015 1,206 1,382 1,585 1,579 Exports, n.e.c., and reexports 53 9,971 2,302 2,544 2,448 2,676 2,450 2,523 2,596 2,316 2,454 2,616 2,584 2,458 2,448 2,808 54 55 5,193 4,778 1,178 1,124 1,355 1,190 1,324 1,124 1,335 1,341 1,226 1,224 1,274 1,249 1,150 1,446 1,208 1,108 1,314 1,140 1,342 1,274 1,328 1,256 1,251 1,207 1,246 1,202 1,162 1,646 Civilian aircraft, engines, parts Civilian aircraft complete all types Other transportation equipment Automotive vehicles parts and engines To Canada 8 To all other areas Domestic (low-value, miscellaneous) Foreign (reexports) See footnotes on page 53. 47 SURVEY OF CURRENT BUSINESS December 1982 Table 3.—U.S. Merchandise Trade—Continued [Millions of dollars] Seasonally adjusted Not seasonally adjusted Line 1981 1981 I II 1982 III IV I II r 1982 1981 III" I II III IV I II ' III" 65,064 66,752 63,716 65,774 61,694 60,498 62,819 64,507 66,102 64,667 66,029 61,225 59,927 64,055 Foods feeds and beverages Coffee, cocoa, and sugar Green coffee Cane sugar Other foods, feeds, and beverages 57 58 59 60 61 18,113 5,230 2,622 2,142 12,882 4,854 1,575 866 586 3,279 4,666 1,247 603 487 3,419 4,136 1,032 495 422 3,105 4,456 1,376 658 647 3,080 3,759 946 626 210 2,813 4,380 876 636 165 3,504 4,408 1,016 716 230 3,392 4,882 1,557 771 689 3,325 4,491 1,248 631 486 3,243 4,450 1,076 579 350 3,374 4,290 1,350 640 618 2,940 3,724 894 556 251 2,830 4,295 894 662 168 3,401 4,772 1,111 822 199 3,662 Industrial supplies and9 materials Fuels and lubricants Petroleum and products 62 134,632 63 82,058 64 77,107 34,968 22,530 21,161 35,142 21,313 20,179 32,508 19,396 18,180 32,013 18,820 17,586 30,081 17,779 16,284 26,166 14,067 12,897 28,864 17,776 16,482 34,162 21,561 20,370 35,205 21,824 20,700 32,680 19,435 18,051 32,584 19,238 17,986 29,397 16,915 15,602 26,218 14,474 13,310 29,078 17,844 16,364 Merchandise imports, Census basis 56 261,305 Paper and paper base stocks 65 5,603 1,408 1,424 1,295 1,476 1,348 1,374 1,266 1,385 1,398 1,328 1,493 1,330 1,349 1,298 Materials associated with nondurable goods and farm output, n e.s Textile supplies and materials Tobacco, unmanufactured Chemicals, excluding medicinal Other (hides, copra, materials for making photos, drugs, dyes) 66 67 68 69 11,863 2,555 633 5,966 3,039 629 172 1,498 3,056 626 184 1,580 2,895 644 147 1,472 2,874 655 130 1,415 2,942 615 230 1,392 3,028 606 240 1,529 2,860 555 174 1,479 2,930 620 134 1,476 2,935 613 138 1,540 3,008 649 166 1,524 2,991 673 196 1,425 2,832 607 188 1,372 2,910 594 188 1,492 2,979 557 204 1,531 70 2,709 739 665 632 672 705 653 652 700 643 669 696 666 636 687 71 3,716 964 1,105 861 786 589 834 936 1,037 1,028 824 827 638 776 896 72 73 74 31,390 2,588 11,262 7,028 484 2,024 8,245 752 2,854 8,060 729 3,203 8,057 622 3,181 7,423 391 3,223 6,864 386 2,922 6,026 333 2,235 7,249 623 2,155 8,019 690 2,877 8,085 659 3,150 8,036 616 3,081 7,683 513 3,400 6,709 351 2,929 6,061 301 2,189 75 76 12,514 4,134 3,190 1,054 3,354 1,099 2,906 901 3,064 1,081 2,719 887 2,388 630 2,366 808 3,170 1,054 3,198 1,099 3,023 901 3,123 1,081 2,703 887 2,288 630 2,449 808 77 78 5,027 34,493 1,330 8,031 1,286 8,564 1,222 8,654 1,190 9,245 1,090 8,657 1,168 9,233 1,092 9,036 1,302 8,120 1,255 8,295 1,253 8,784 1,216 9,295 1,067 8,769 1,140 8,977 1,122 9,153 79 30,502 7,032 7,601 7,776 8,092 7,675 8,268 8,260 7,119 7,378 7,861 8,143 7,786 8,054 8,332 80 81 9,452 21,050 2,083 4,949 2,304 5,297 2,477 5,299 2,588 5,505 2,370 5,305 2,641 5,627 2,934 5,326 2,200 4,919 2,298 5,081 2,422 5,439 2,532 5,612 2,498 5,288 2,632 5,422 2,864 5,468 82 83 84 85 3,425 7,748 1,689 5,204 852 1,779 429 1,192 852 1,920 497 1,300 877 2,034 379 1,246 844 2,015 384 1,466 846 1,944 367 1,372 802 2,097 376 1,532 729 1,847 271 1,631 835 1,766 398 1,215 805 1,838 425 1,290 876 2,075 429 1,294 908 2,068 438 1,406 830 1,933 341 1,397 760 2,010 322 1,518 731 1,888 308 1,691 86 2,984 697 729 762 795 776 820 848 705 723 764 792 786 813 850 87 3,992 998 963 878 1,152 982 965 777 1,001 916 923 1,151 982 923 822 Civilian aircraft, engines, parts Civilian aircraft complete all types 88 89 3,749 1,339 940 297 894 264 820 278 1,096 500 925 363 900 311 736 184 942 297 847 264 864 278 1,095 500 926 363 857 311 781 184 Automotive vehicles, parts, and engines 90 29,737 7,115 7,865 6,776 7,980 8,112 9,366 8,085 6,712 7,465 7,698 7,862 7,658 8,929 9,321 91 92 10,383 19,354 2,217 4,898 2,808 5,057 2,292 4,483 3,065 4,915 2,908 5,204 4,010 5,356 3,123 4,962 2,062 4,650 2,654 4,811 2,880 4,818 2,787 5,074 2,715 4,943 3,840 5,089 3,948 5,374 93 94 95 17,768 4,844 7,124 4,366 1,102 1,648 4,845 1,172 1,848 3,903 1,175 1,698 4,655 1,396 1,930 5,054 1,429 1,630 5,641 1,525 2,199 4,780 1,174 2,132 4,038 1,043 1,632 4,490 1,161 1,813 4,523 1,376 1,800 4,718 1,264 1,880 4,684 1,362 1,612 5,239 1,534 2,155 5,627 1,422 2,272 96 97 98 38,664 20,766 14,928 8,725 4,610 3,324 9,134 4,894 3,483 10,293 5,316 4,260 10,512 5,947 3,861 9,578 5,211 3,678 9,352 4,911 3,833 10,882 5,428 4,822 9,216 4,986 3,469 9,288 4,959 3,569 9,682 5,173 3,780 10,478 5,648 4,111 10,124 5,620 3,842 9,540 4,996 3,930 10,155 5,245 4,270 99 2,969 791 758 717 703 688 608 632 761 760 729 719 662 615 640 100 5,667 1,371 1,380 1,349 1,568 1,508 2,000 1,544 1,415 1,359 1,372 1,520 1,553 1,969 1,575 Building materials except metals Materials associated with druable goods output, n.e.s Steelmaking materials Iron and steel products Other metals, primary and advanced, including advanced steel Precious metals (gold, silver, platinum) Nonmetals (oils, gums, resins, minerals, rubber, tires, etc.) Capital goods except automotive Machinery, except consumer-type Electrical and electronic, and parts and attachments Nonelectrical, and parts and attachments Construction, textile and other specialized industry machinery and nonfarm tractors Other industrial machinery, n e s Agricultural machinery and farm tractors Business and office machines, computers, etc Scientific, professional and service industry equipment Transportation equipment, except automotive From Canada From all other areas Passenger cars new and used Trucks, buses and special vehicles. Bodies, engines, parts and accessories, n.e.s Consumer goods (nonfood), except automotive Consumer durables, manufactured Consumer nondurables, manufactured Unmanufactured consumer goods (gems, nursery stock) Imports, n.e.s. (low value, goods returned, military aircraft movies exhibits) See footnotes on page 53. SURVEY OF CURRENT BUSINESS 48 December 1982 Table 4.—Selected U.S. Government Transactions [Millions of dollars] 19 81 I II 1982 III IV II r I III" Al 14,010 3,373 3,549 3,624 3,464 3,385 3,606 4,497 2 3 4 4,504 317 4187 960 960 986 129 857 1,250 121 1,129 1,308 67 1,240 1473 419 1 054 1 069 25 1 044 1 051 22 1 029 5 6 7 8 9 9,710 1,142 8,035 94 439 2,596 195 2,297 (*) 104 2374 323 1,922 30 98 2,428 316 1,935 57 120 2,313 308 1,882 7 118 1 860 213 1,520 6 120 2535 285 2,088 44 118 3457 257 2,000 7 1 068 132 10 11 -204 -41 -183 -41 189 -21 -54 4 -157 17 52 7 2 20 -11 29 12 13 14 15 16 68 71 134 (*) 22 36 14 15 38 25 19 26 29 16 34 4 15 48 3 13 25 2 12 21 17 1 10 4 3 3 4 4 17 18 19 20 21 22 25 5 301 -211 13 3 84 -105 5 2 4 1 3 92 -47 68 -76 4 3 58 16 58 30 66 14 65 12 48 -36 257 18 -190 14 9 7 23 24 25 26 27 28 29 30 1,142 1,720 7,000 3074 916 222 301 238 195 317 1,966 841 135 58 84 -55 323 529 1,495 818 114 62 92 301 316 591 1,568 735 377 49 68 56 308 283 1,972 681 291 53 58 -64 213 247 1,943 663 163 66 58 148 285 411 2,065 614 123 43 66 131 257 505 1,978 474 7 1 172 37 65 140 Estimated transactions involving no direct dollar outflow from the United States Expenditures on U S merchandise Expenditures on U S services 4 Financing of military sales contracts by U.S. Government 5 (line C6) By long-term credits 1 By short- term credits By grants1 U S Government grants and credits to repay prior U S Government credits ' 4 U S Government long- and short-term credits to repay prior U S private credits Increase in liabilities associated with U.S. Government 6grants and transactions increasing Government assets (including changes in retained accounts) (line Cll) Less receipts on short-term U.S. Government assets (a) financing military sales contracts1 and (b) financing repayments of private credits Less foreign currencies used by U.S. Government other than for grants or credits (line A19) 31 32 33 34 35 36 37 38 39 10,067 5,994 1991 1,744 1 448 2,578 1,477 459 739 739 2,544 1,644 555 339 210 2,603 1,540 543 317 196 2,342 1,333 435 350 304 2,304 1,231 484 538 263 2,609 1,444 537 629 612 2511 1,331 526 602 586 296 495 378 54 39 129 137 6 121 203 152 46 101 181 275 91 19 17 80 6 16 92 55 1 -1 Estimated dollar payments to foreign countries and international financial institutions U.S. Government grants (excluding military) and transactions increasing Government assets, total By category Grants net (table 1 line 34 with sign reversed) Financing military purchases ' Other grants . Loans and other long-term assets (table 1 line 44 with sign reversed) Capital subscriptions and contributions to international financial institutions, excluding IMF Credits repayable in U S dollars Credits repayable in other than U S dollars Other long-term assets Foreign currency holdings and short-term assets net (table 1, line 46, with sign reversed) Foreign currency holdings (excluding administrative cash holdings) net Receipts from — Interest Repayments of principal • . Other sources Less disbursements for — Grants and credits in the recipient's currency Other grants and credits . Other U S Government expenditures Other assets held under Commodity Credit Corporation Charter Act net • Other short-term assets (including changes in administrative cash holdings) net r By program Capital subscriptions and contributions to international financial institutions, excluding IMF Under farm product disposal programs Under Foreign Assistance Act and related programs Under Export-Import Bank Act Other assistance programs Other foreign currency assets acquired (lines A13 A14, and A16) Less foreign currencies used by U.S. Government other than for grants or credits (line A19) Other (including changes in administrative cash holdings) net By disposition 3 Repayments on U.S. Government long-term assets, total (table 1, line 45) Receipts of principal on U S Government credits Under farm product disposal programs Under Foreign Assistance Act and related programs Under Export-Import Bank Act Other assistance programs . . . . Receipts on other long-term assets U.S. Government liabilities other than securities, total, net increase ( + ) (table 1, line 61) Associated with military sales contracts2 U.S. Government cash receipts from foreign governments (including principal repayments on credits financing military sales contracts), net of refunds 1 Less U S Government receipts from principal repayments Less U.S. Treasury securities issued in connection with prepayments for military purchases in the United States Plus financing of military sales contracts by U S Government 5 (line A34) By long-term credits 1 By short-term credits By grants1 Less transfers of goods and services (including transfers financed by grants to Israel, and by 12 credits) (table 1 line 3) . 40 1 -1 1 (*) 41 42 235 301 105 84 47 92 84 68 58 58 43 3943 795 1005 1,021 1,122 1,082 997 1,986 Bl 2 3 4 5 6 4,370 3935 278 1,287 1,466 905 947 842 46 242 343 212 1,071 964 59 397 347 160 1,107 998 50 297 333 319 1,244 1 130 123 351 442 214 915 802 57 287 341 117 1,014 873 34 377 397 64 1,019 909 55 296 493 65 7 435 105 107 Cl -69 -55 48 109 -337 114 275 112 -182 1 3 8 24 66 8 30 65 141 111 387 -509 2 157 118 86 232 186 5 224 -270 3 4 8,915 594 2,321 124 2,547 167 1,595 145 2,451 158 3,723 133 2,591 172 1,953 132 5 6 7 8 9 160 1744 1,448 603 739 739 222 339 210 -742 317 196 77 350 304 1,122 538 263 -511 629 612 -712 602 586 129 121 46 275 17 16 10 9,747 2,215 2,411 2,741 2,380 3,000 3335 3405 Associated with U.S. Government grants and transactions increasing Government assets (including changes in retained accounts)6 (line A40) 11 1 -1 1 (*) 1 -1 3 1 Associated with other liabilities Sales of nuclear materials by Department of Energy Other sales and miscellaneous operations German Government 10-year loan to U S Government 12 13 14 15 -227 133 7 100 -171 54 -118 -39 16 76 100 -104 43 -61 88 21 110 -187 76 -111 161 20 141 -241 183 58 See footnotes on page 53. 296 December 1982 49 SURVEY OF CURRENT BUSINESS Table 5.—Direct Investment: Income and Capital [Millions of dollars] T JKIQ 1982 19 81 1 Qfi1 I II HI IV II r I III" U.S. direct investment abroad: Income (table 1 line 11) Interest dividends and earnings of unincorporated affiliates (table 1 line 12) Interest . ... .... Dividends Earnings of unincorporated affiliates Reinvested earnings of incorporated affiliates (table 1, line 13) Capital (outflow ( — )) (table 1, line 48) Equity and intercompany accounts (table 1, line 49) Incorporated affiliates Equity . Increase Decrease Intercompany accounts U S parents' receivables U S parents' payables Unincorporated affiliates Reinvested earnings of incorporated affiliates (table 1, line 50) ... 1 31 873 8530 8435 6466 8442 5950 5866 5221 2 3 4 5 6 18894 161 9,474 9260 12,978 4419 107 1,894 2417 4,112 4952 18 2,390 2545 3,482 4203 83 2,025 2094 2,263 5321 -48 3,165 2203 3,121 4661 76 2,451 2286 1,288 4638 334 2,982 1991 1,228 4021 na n.a. na 1,200 7 -8,691 -2,182 -5,203 -529 -777 -540 8 9 10 11 12 13 14 15 16 17 4,287 6719 1,025 -5,437 6462 5,694 1 311 7,005 2432 -12,978 1,930 1 602 -425 -1,190 765 2,027 1 635 3,662 328 -4,112 -1,721 388 1,114 -581 1 695 -1,503 1 572 69 1 332 -3,482 1,734 3 152 -400 -1,251 851 3,552 724 2,828 1418 -2263 2344 2354 736 -2,415 3 151 1,618 1 172 446 10 -3121 748 957 1 123 -2,137 1014 2080 231 2311 209 1288 18 19 20 13,168 8212 10,493 3,991 2098 2,442 3,709 2271 2,455 2,941 1 159 2366 2,527 2685 3230 2,875 1 233 1842 2,480 1582 1803 n.a. na na 2498 1 264 3725 4715 -1355 - 1,980 625 6070 389 5681 990 -1 228 2463 na na n.a. na na na na na -1 200 By industry of affiliate: Income (line 1): Petroleum... Manufacturing Other . .... Interest, dividends, and earnings of unincorporated affiliates (line 2): Petroleum Manufacturing ... Other.. Reinvested earnings of incorporatred affiliates (line 6, or line 17 with sign reversed): Petroleum Manufacturing Other .. . 21 22 23 9,135 4,661 5,098 2,310 980 1,129 2,674 1 116 1,162 2,087 1038 1,078 2,064 1 527 1,729 2,584 1056 1,021 2,704 1 046 889 n.a. na n.a. 24 25 26 4,033 3550 5,395 1,681 1 118 1313 1,035 1 155 1 292 854 120 1288 463 1 157 1 501 292 176 821 -223 537 914 na na na Equity and intercompany accounts (outflow ( — )) (line 8): Petroleum Manufacturing Other 27 28 29 1,939 617 1,731 1,785 365 -220 -269 1822 370 -514 1 293 955 937 781 626 -1,136 704 2,588 -945 419 4,252 -1,424 na na Foreign direct investment in the United States: Income (table 1 line 27) Interest, dividends, and earnings of unincorporated affiliates (table 1, line 28) Interest Dividends Earnings of unincorporated affiliates Reinvested earnings of incorporated affiliates (table 1, line 29) Capital (inflow ( + )) table 1, line 65) Equity and intercompany accounts (table 1, line 66) Incorporated affiliates Equity Increase .. Decrease Intercompany accounts U S affiliates' payables U.S. affiliates' receivables Unincorporated affiliates Reinvested earnings of incorporated affiliates (table 1, line 67) 30 7808 1789 2079 2004 1936 31 32 33 34 35 -3,708 1 116 -1,850 742 -4099 -850 219 -417 215 -939 -899 226 -515 158 -1,180 -884 294 -460 129 -1,120 -1,076 377 -458 241 -860 -858 324 -426 109 -534 -1,056 465 -561 30 -215 -1,378 -458 -541 -379 -109 36 21 301 2946 4540 4478 9336 1 165 2781 2286 37 38 39 40 41 42 43 44 45 46 17201 16522 9811 10714 903 6711 6782 71 679 4099 2007 1 810 1 394 1 446 52 416 958 542 198 939 3360 3068 1732 1850 118 1 336 1023 313 293 1 180 3358 3,183 2350 2479 129 833 640 194 175 1 120 8475 8,462 4336 4939 603 4 126 4 163 37 14 860 632 776 362 1,221 1 583 1 137 727 410 144 534 2566 2,393 1312 1,568 256 1,081 965 116 173 215 2 177 2,114 1 402 1 443 40 712 1 367 -655 63 109 1 392 1 271 1 487 By industry of affiliates: Income (line 30): Petroleum: Man ufacturing Other . 47 48 49 3407 1 012 3388 893 167 730 973 424 681 736 330 938 805 92 1 039 781 120 491 794 12 465 835 55 596 Interest, dividends, and earnings of unincorporated affiliates (line 31): Petroleum Manufacturing Other 50 51 52 1 019 1067 1 622 221 268 362 264 229 406 295 250 338 240 319 517 217 329 312 417 268 371 398 304 676 Reinvested earnings of incorporated affiliates (line 35, or line 46 with sign reversed): Petroleum Manufacturing Other 53 54 55 2388 54 1766 672 101 369 710 195 276 441 80 600 565 227 522 564 209 179 377 256 94 437 249 80 Equity and intercompany accounts (inflows ( + )) (line 37): Petroleum Manufacturing . . Other 56 57 58 3060 4348 9794 319 534 1 155 271 1284 1 805 1 171 1 240 947 1300 1 289 5 887 114 737 219 4 683 1 886 126 927 1 125 See footnotes on page 53. 50 SURVEY OF CURRENT BUSINESS December 1982 Table 6.—Securities Transactions [Millions of dollars] 19 81 LForeign securities, net U.S. purchases (-), balance of payments basis (table 1, line 51, or lines 6+17 below) Stocks: I • Bonds: Treasury basis net1 Adjustments: Plus additional Canadian redemptions^ Plus other adjustments • Balance of payments basis net . Newly issued in the United States By type* Privately placed Publicly offered . •• . . Other transactions in outstanding bonds 2 Western Europe Canada Japan Other . .. . • . . ... -531 -441 III" -139 -188 349 -17 214 100 108 5 -139 -188 349 17 214 100 144 -114 -97 78 -6 51 120 -11 70 -19 8 -139 45 359 -445 -8 -74 122 305 -198 -59 427 119 -98 402 4 33 95 120 7 1 334 31 172 153 22 30 54 16 60 20 -136 165 65 -20 16 -2,825 -618 - 2,843 -3,103 36 7 8 -243 -103 9 10 11 12 13 247 -143 686 -234 -62 14 -5,434 -319 - 1, 323 -967 17 -5,434 -319 -1,323 -967 2825 745 341 2960 18 19 20 -8,020 -1,184 -6836 -752 -209 -543 -2306 -245 -2061 1 675 -409 1 266 3287 -321 2966 1 412 -272 1 140 830 131 699 3459 -374 3085 21 22 23 24 25 26 27 28 29 30 -816 -4,816 297 -472 -374 -1 245 1,232 520 453 259 299 -1,513 220 -193 -81 207 -1 244 77 69 -78 310 1 516 1 323 215 31 32 33 34 35 -745 -341 -2960 15 16 • By area* Western Europe Canada Japan Latin America Other countries . International financial institutions 3 Redemptions of U.S.-held foreign bonds 2. Canada Other countries International financial institutions3 II r 5 6 -1,511 I 2 Balance of payments basis net Other foreign stocks Western Europe Canada Japan Other -458 IV III -5,429 3 4 5 .... II Al Adjustments: Less recorded in table 1 line 48 as US direct investment abroad . Plus exchange of stock associated with direct investment in the United States Plus other adjustments Newly issued in the United States Of which Canada 1982 1 Qft1 .... . . . . . . U.S. securities, excluding Treasury issues and transactions by foreign official agencies, net foreign purchases ( + ), balance of payments basis (table 1, line 69, or lines 5 + 12 below) Stocks: Treasury basis, net1 -543 -100 -109 300 156 44 100 16 99 500 520 195 130 195 517 1 348 49 81 -514 950 668 215 135 318 292 160 60 72 322 165 120 37 3 is 110 -106 1 245 300 90 60 150 1354 202 15 510 627 142 -115 -2 136 123 661 112 28 309 268 389 162 12 137 102 162 43 57 -72 134 367 143 112 119 7 31 -585 170 90 474 169 118 143 -253 109 Bl 7,109 2,419 3,533 761 396 1 319 2497 134 2 5,761 1,674 2,969 676 442 934 997 368 105 213 -89 Adjustments: Plus exchange of stock associated with U.S. direct investment abroad Plus other adjustments 4 3 4 769 27 55 532 209 260 207 103 Balance of payments basis net Western Europe Canada Japan Other 5 6 7 8 9 4992 3,594 1 045 118 235 1 701 1309 222 48 218 2914 1720 773 188 233 144 248 82 19 -205 233 317 32 -41 -11 674 718 143 _i 100 790 629 9 100 270 265 299 155 -155 -34 10 11 5040 2923 2028 1 310 1 485 -867 1,604 987 77 240 305 340 1 794 87 -343 212 12 13 2,117 360 718 200 618 100 617 60 163 645 1 707 100 -131 100 14 15 1757" 1 517 22 496 _i 558 -22 185 9 636 45 1 562 -115 116 16 359 122 127 165 55 41 145 238 Bonds: Treasury basis, net * Adjustments4 .. .. ... ... Balance of payments basis, net New issues sold abroad by U S corporations Investments by international financial institutions 3 in nonguaranteed bonds of U.S. federally sponsored agencies Other transactions in U S bonds .... .. . Of which United Kingdom See footnotes on page 53. December 1982 SURVEY OF CURRENT BUSINESS 51 Table 7.—Claims and Liabilities on Unaffiliated Foreigners Reported by U.S. Nonbanking Concerns [Millions of dollars] 1982 1981 (Credits ( + ); increase in U.S. liabilities or decrease in U.S. assets. Debits (-); decrease in U.S. liabilities or increase in U.S. assets.) Claims total Long-term (table 1 line 52) Short-term (table 1 line 53) Financial claims Denominated in US dollars • By area* Industrial countries Of which United Kingdom Canada . • .... •••• Other By type- Deposits.. Other claims Commercial claims Denominated in US dollars Denominated in foreign currencies By area* Industrial countries 2 4 Oil-exporting countries Other By type' Trade receivables Other claims . ... . Liabilities, total Long-term (table 1 line 70) Short-term (table 1 line 71) ... Financial liabilities Denominated in US dollars By area* Industrial countries 2 Of which United Kingdom Caribbean banking centers 3 Other . Commercial liabilities Denominated in US dollars Denominated in foreign currencies By area' Industrial countries 2 4 Oil-exporting countries Other By type* Trade payables Other liabilities . . . .. 1981 Line I II III IV I' II r III" Amounts outstanding June 30, 1982 Al 2 3 -331 579 -910 -3,148 564 -3,712 2,470 252 2,218 855 -327 1,182 -508 90 -598 4,112 155 3,957 -304 116 -420 n.a. n.a. n.a. 30,564 5,211 25,353 4 5 6 7 8 9 10 11 12 13 -174 -52 -122 324 1,480 -1,002 -932 434 -298 124 -2,331 -2,347 16 -1,531. 113 -1,554 -1,228 428 -2,436 105 2,148 2,070 78 1,479 908 452 725 -56 2,048 100 633 681 -48 440 303 151 201 -8 799 -166 -624 -456 -168 -64 157 -51 -630 70 -709 85 2,789 1, 878 911 1,627 -97 1,617 1,064 98 1,784 1,005 -710 888 178 233 -75 510 -999 56 -873 163 n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. 18,368 16,460 1,908 9,458 3,577 4,381 1,278 1,632 13,463 4,905 14 15 16 17 18 19 20 21 -157 -140 -17 -85 -172 100 26 -183 -817 -720 -97 -673 -118 -26 -738 -79 322 300 22 385 -139 76 349 -27 222 234 -12 191 164 -133 248 -26 116 46 70 12 -79 183 167 -51 1,323 1,369 -46 537 357 429 1,318 5 406 443 -37 315 16 75 502 -96 n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. 12,196 11,638 558 6,657 1,725 3,814 10,960 1,236 Bl 2 3 532 1,768 -1,234 147 976 -829 -162 14 -176 1,006 261 745 -457 517 -974 -982 823 -1,805 -2,304 -1,111 -1,193 n.a. n.a. n.a. 26,696 6,194 20,502 4 5 6 7 8 9 10 -63 287 -350 -252 -691 63 126 371 511 -140 -40 -105 259 152 -92 209 -301 -207 -246 131 -16 1,011 U45 -134 1,405 1,056 -423 29 -1,353 -1,578 225 -1,410 -1,396 96 -39 207 737 -530 473 556 -743 -123 -2,260 -2,269 9 -1,900 -1,116 -357 -3 n.a. n.a. n.a. n.a. n.a. n.a. n.a. 9,670 7,774 1,896 6,900 3,027 1,861 909 11 12 13 14 15 16 17 18 597 865 -268 1,357 426 -1,186 -1,171 1,768 -224 -33 -191 -211 -569 556 -538 314 -70 209 -279 305 118 -493 36 -106 -5 233 -238 446 852 -1,303 -992 987 896 456 440 817 25 54 323 573 -1,189 -973 -216 -266 -1,004 81 -1,157 -32 -44 -25 -19 486 -1,212 682 -210 166 n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. 17,026 16,247 779 7,887 5,992 3,147 9,146 7,880 See footnotes on page 53. Table 8.—Claims on Foreigners Reported by U.S. Banks [Millions of dollars] 19 81 Line (Credits ( + ); decrease in U.S. assets. Debits (-); increase in U.S. assets.) I Total (table 1, lines 54 & 55) By areas: Industrial countries1 Of which United Kingdom Caribbean banking centers2 Oil-exporting countries 3 Other Of which Latin American countries Asian countries African countries .. By type: Payable in dollars Banks' claims for own account On own foreign offices Of U.S.-owned banks Of foreign-owned banks in the United States On foreign public borrowers4 On other foreign banks Of which deposits On other foreigners Banks' claims for domestic customers' accounts Deposits Negotiable and readily transferable instruments Collections outstanding and other claims Payable in foreign currencies Banks' claims for own account Of which deposits Banks' claims for domestic customers' accounts Of which deposits Memoranda: Claims on foreign public borrowers (incl. in line 15 above): Long-term .... Short-term Claims on all other foreigners (incl. in lines 16 + 18 above): Long-term Short-term U.S. banks' dollar acceptances payable by foreigners See footnotes on page 53. . 1982 1981 II III IV I II r Amounts IIP ing September 30, 1982 1 -84,531 -11,634 -14,998 -15,254 -42,645 -32708 36923 2 3 4 5 6 7 8 9 -34079 - 16,094 - 19 503 -2,259 -28,690 -22,421 5028 -705 -8481 -3522 -4275 73 1,195 107 908 45 7361 -4094 2907 172 -4,902 -1,822 2978 79 5065 -3334 4836 98 -5,255 -4,388 534 -280 13 172 -5 144 7485 2260 - 19,728 -16,318 2424 -549 15853 9086 6 177 1 594 -9,084 -8,324 875 -250 12272 3616 7286 1850 -15,515 -11,657 3 318 -461 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 -83,679 -73 524 -31,256 -20,743 -10513 9755 -19,943 -11 281 -12,570 -10,155 326 -9351 -478 852 -844 -814 -8 615 -12,193 -7244 -9,836 -7026 -2810 21 3703 991 -1,090 -4949 38 -3879 -1,108 559 41 810 518 581 -15,684 13695 -4,641 894 3747 1 754 -5891 1996 -1,409 -1989 251 3485 1 245 686 589 -271 97 61 -14,974 13305 -8591 7381 1 210 2074 -3221 1745 581 1669 229 1 532 92 280 -379 -359 99 35 -40,828 39280 -8188 5442 2746 5906 14534 8531 - 10 652 1 548 386 455 707 1817 -1,095 -994 722 8 -32,343 26442 -5075 5121 46 2 586 13*509 6004 -5272 5901 134 6576 809 365 -392 -398 27 28 -36,259 36818 12004 4698 7 306 5 895 14052 6738 4867 559 86 363 110 664 -686 75 22 82 -21,103 24739 -11617 8259 3 358 2 707 9506 4 846 909 3636 36 3389 211 71 -344 80 415 45 28 29 -5331 -3,829 36 508 744 997 1 388 -1 222 3 163 2 118 3 151 2*836 1933 698 21 928 20 138 30 31 32 -9,306 24675 -6874 531 2302 -1718 866 6866 -3048 685 1 518 184 7224 18 593 1924 4 173 15737 2666 1 256 8 659 1923 30 185 140 811 35103 1 211 1 148 2289 15842 915 -21,032 7 180 7094 7669 1 182 -5,001 -4,513 487 60 383 306 153 221 64909 88 290 17413 124,382 91,424 27 301 2,832 376,196 339 120 125 338 72632 52 706 42708 111 263 40 513 59811 37 076 1 389 28 577 7 110 7 110 6,604 3537 506 165 52 SURVEY OF CURRENT BUSINESS December 1982 Table 9.—Foreign Official Assets in the United States and Other Foreign Assets in the United States Reported by U.S. Banks [Millions of dollars] 1981 Line (Credits ( + ); increase in foreign assets. Debits ( — ); decrease in foreign assets.) 1981 I Foreign official assets in the United States, net (table 1, line 57) 1982 II III IV II r I IIP Amounts outstanding September 30, 1982 •Al 4,785 5,361 -2,861 -5,835 8,119 -3,122 1,998 2,102 182,569 2 3 4 5 6 7 8 9 10 11 4,983 -3,848 -3,848 7,242 4,249 4,249 -2,063 -2,768 -2,768 -4,635 -7,538 -7,538 4,439 2,209 2,209 -1,344 -5,341 -5,341 -2,076 -3,539 -3,539 4,880 941 941 118,428 44,450 44,450 11,695 -2,864 -2,864 3,353 -360 -360 1,797 -1,092 -1,092 3,703 -800 -800 2,842 -612 -612 4,497 -500 -500 2,604 -1,141 -1,141 4,739 -800 -800 64,628 9,350 9,350 1,289 -69 454 -55 536 48 545 -337 -246 275 -296 -182 258 387 -101 -509 8,898 12,776 12 13 14 15 16 17 18 -4,083 -1,187 -1,053 549 -683 -2,896 2,665 -3,109 -1,616 -433 -692 -491 -1,493 829 -2,028 -427 743 -387 -783 -1,601 647 -2,382 -1,859 -1,278 -577 -4 -523 974 3,436 2,715 -85 2,205 595 721 215 -1,516 -1,481 -336 721 -1,866 -35 216 3,393 3,623 1,121 624 1,878 -230 36 -2,160 -2,460 -641 -345 -1,474 300 -8 26,313 16,519 2,526 5,203 8,790 9,794 16,154 Bl 44,194 -2,403 8,413 16,470 21,714 26,700 24,647 11,532 246,350 2 3 4 5 6 13,068 22,527 141 6,996 1,462 2,323 -3,334 -556 -679 -157 2,483 4,543 287 1,154 -54 4,797 9,164 -310 3,074 -255 3,465 12,154 720 3,447 1,928 13,368 11,472 155 2,511 -806 10,172 3,600 3,923 5,349 1,603 12,686 -3,106 627 1,871 -546 117,741 64,991 12,567 42,455 8,596 7 8 9 10 11 12 13 14 15 16 17 18 19 20 36,769 1,044 35,725 32,880 32,928 27,869 21,835 6,034 5,059 -2,576 6,917 718 -48 2,845 -3,778 203 -3,981 -4,174 -3,685 -1,827 175 -2,002 -1,858 -1,623 621 -856 -489 193 6,467 328 6,139 6,260 6,527 7,228 3,842 3,386 -701 1,063 -577 -1,187 -267 -121 16,088 269 15,819 15,221 15,375 13,706 10,251 3,455 1,669 1,569 147 -47 -154 598 17,992 244 17,748 15,573 14,711 8,762 7,567 1,195 5,949 -3,585 6,726 2,808 862 2,175 22,960 530 22,430 23,478 22,950 11,631 13,495 -1,864 11,319 -2,347 9,999 3,667 528 -1,048 15,443 708 14,735 13,939 13,576 8,304 3,691 4,613 5,272 97 4,532 643 363 796 6,726 1,971 4,755 3,607 3,414 584 2,270 -1,686 2,830 -1,136 2,872 1,094 193 1,148 184,672 4,897 179,775 168,847 164,006 117,780 58,901 58,879 46,226 8,138 26,260 11,828 4,841 10,928 21 22 23 24 25 26 27 28 29 30 1,462 1,372 288 1,084 90 194 116 -27 105 -104 -157 411 79 332 -568 150 -20 -18 -112 -418 -54 -21 -44 23 -33 63 98 8 -43 -96 -255 -497 -193 -304 242 41 25 -15 31 201 1,928 1,479 446 1,033 449 240 13 -2 229 209 -806 -561 -432 -129 -245 193 -53 83 -223 -52 1,603 967 1,315 -348 636 783 91 440 252 -147 -546 -2,229 -748 -1,481 1,683 1,405 -106 148 1,363 278 8,596 4,337 677 3,660 4,259 2,638 194 733 1,711 1,621 31 32 33 34 35 36 37 38 39 40 41 5,963 516 177 2,228 -1,889 5,447 5,383 -180 6,250 -687 64 1,532 776 133 643 2,000 443 -86 529 1,557 1,231 77 1,282 -128 326 1,794 -485 44 255 -784 2,279 2,420 -259 2,564 115 -141 4,546 1,308 84 1,224 756 1,011 -97 1,285 -177 -255 637 -218 86 801 -1,105 855 721 99 1,119 -497 134 3,238 3,508 -444 3,979 -27 -270 7,601 420 173 601 -354 7,181 6,648 -201 6,581 268 533 5,352 1,566 591 1,869 -894 3,786 3,460 -5 3,179 286 326 53,082 13,605 1,548 10,314 8 1,743 39,477 35,303 4,560 29,685 1,058 4,174 42 -474 1,059 300 -795 1,080 497 1,708 661 13,533 By area: (see text table B) U S Treasury securities (table 1 line 59) Bills and certificates Denominated in U S dollars Denominated in foreign currencies Bonds and notes marketable Denominated in U S dollars .... Other U S Government securities (table 1 line 60) .... Other U S Government liabilities (table 1, line 61) U.S. liabilities reported by U.S. banks, not included elsewhere (table 1, line 62) Banks' liabilities for own account payable in dollars 1 Demand deposits . Time deposits * .... .. . Other Banks' custody liabilities payable in dollars * 2 .. Other foreign official assets (table 1 line 63) Other foreign assets in the United States: U.S. Treasury securities and U.S. liabilities reported by U.S. banks, not included elsewhere (table 1, lines 68, 72, and 73) By area: Industrial countries 3 4 Caribbean banking centers .. Oil-exporting countries 5 Other countries International financial institutions 6 . .. . .. By Type: Foreign commercial banks U.S. Treasury bills and certificates U S liabilities reported by U S banks Banks' liabilities for own account 1 . . Payable in dollars To own foreign offices Of U S -owned banks Of foreign-owned banks in the United States To other foreign banks Demand deposits Time deposits l Other .. Payable in foreign currencies Banks' custody liabilities payable in dollars 1 2 International financial institutions6. U S. Treasury securities Bills and certificates Bonds and notes marketable U S. liabilities reported by U.S banks Banks' liabilities for own account payable in dollars l Demand deposits Time deposits J Other Banks' custody liabilities, payable in dollars12 Other private foreign residents and unallocated U S. Treasury securities Bills and certificates Bonds and notes, marketable Bonds and notes nonmarketable 7 U.S. liabilities reported by U.S. banks Banks' liabilities for own account payable in dollars l .. Demand deposits Time deposits l Other Banks' custody liabilities payable in dollars * 2 Memorandum: Negotiable certificates of deposit held for foreigners l See footnotes on page 53. . ... December 1982 SURVEY OF CURRENT BUSINESS 53 Footnotes to U.S. International Transactions Tables 1-10 General notes for all tables: r Re vised. p Preliminary. * Less than $500,000 (±). n.a. Not available. Table 1-2: 1. Credits, + : exports of goods and services; unilateral transfers to United States; capital inflows (increase in foreign assets (U.S. liabilities) or decrease in U.S. assets); decrease in U.S. official reserve assets. Debits, —: imports of goods and services; unilateral transfers to foreigners; capital outflows (decrease in foreign assets (U.S. liabilities) or increase in U.S. assets); increase in U.S. official reserve assets. 2. Excludes transfers of goods and services under U.S. military grant programs (see line 16). 3. Excludes exports of goods under U.S. military agency sales contracts identified in Census export documents, excludes imports of goods under direct defense expenditures identified in Census import documents, and reflects various other adjustments (for valuation, coverage, and timing) of Census statistics to balance of payments basis; see table 3. 4. For all areas, amounts outstanding September 30, 1982, were as follows in millions of dollars: line 38, 30,992; line 39, 11,148; line 40, 4,809; line 41, 6,406; line 42, 8,630. 5. Includes sales of foreign obligations to foreigners. 6. Consists of bills, certificates, marketable bonds and notes, and nonmarketable convertible and noncovertible bonds and notes. 7. Consists of U.S. Treasury and Export-Import Bank obligations, not included elsewhere, and of debt securities of U.S. Government corporations and agencies. 8. Includes, primarily, U.S. Government liabilities associated with military sales contracts and other transactions arranged with or through foreign official agencies; see table 4. 9. Consists of investments in U.S. corporate stocks and in debt securities of private corporations and State and local governments. 10. Beginning with estimates for the second quarter of 1978, the distinction between short- and long-term liabilities is discontinued. 11. Conceptually, the sum of lines 79 and 74 is equal to "net foreign investment" in the National Income and Product Accounts (NIPA's). However, the foreign transactions account in the NIPA's (a) includes adjustments to the international transactions accounts for the treatment of gold, (b) excludes capital gains and losses of foreign affiliates of U.S. parent companies from the NIPA's measure of income receipts from direct investment abroad, and from the corresponding income payments, and (c) beginning with 1973-IV, excludes shipments and financing of military orders placed by Israel under Public Law 93-199 and subsequent similar legislation. Line 77 differs from "net exports of goods and services" in the NIPA's for the same reasons with the exception of the military financing, which is excluded, and the additional exclusion of U.S. Government interest payments to foreigners. The latter payments, for NIPA's purposes, are excluded from "net exports of goods and services" but included with transfers in "net foreign investment." A reconciliation table of the international accounts and the NIPA's foreign transactions account appears in the "Business Situation" in this issue of the SURVEY OF CURRENT BUSINESS. 12. The maturity breakdown is available only on the limited basis shown in table 7. 13. The maturity breakdown is available only on the limited basis shown in table 8. 14. Includes foreign currency denominated notes sold to private residents abroad. See table 9, line 35, footnote 7. Table 3: 1. Exports, Census basis, represent transaction values, f.a.s. U.S. port of exportation; imports, Census basis, represent transaction values, f.a.s. foreign port of exportation for 1981. In 1982, imports reflect f.a.s. Customs values. The unadjusted figures for exports and imports shown in lines Al, A10, Dl, and D56, are as published by the Census Bureau, as are the seasonally adjusted figures in lines Al and A10; Census data are adjusted to include trade between the U.S. Virgin Islands and foreign countries. The seasonally adjusted figures in lines Dl and D56 are prepared by BEA and represent the summation of seasonally adjusted 4-digit end-use categories (see Technical Notes in the June 1980 SURVEY). 2. Beginning in 1970, adjustments in lines A5, A12, B9, B26, and B43 reflect the Census Bureau's reconciliation of discrepancies in the merchandise trade statistics published by the United States and the counterpart statistics published in Canada. These adjustments also have been distributed to the affected end-use categories in section C. 3. Exports of military equipment under U.S. military agency sales contracts with foreign governments (line A6), and direct imports by the Department of Defense and the Coast Guard (line A13), to the extent such trade is identifiable from Customs declarations. These exports are included in tables 1, 2, and 10, line 3 (transfers under U.S. military agency sales contracts); and the imports are included in tables 1, 2, and 10, line 19 (direct defense expenditures). 4. Addition of electrical energy; deduction of exposed motion picture film for rental rather than sale; net change in stock of U.S.-owned grains in storage in Canada; net timing adjustments for goods recorded in Census data in one period but found to have been shipped in another; and coverage adjustments for special situations in which shipments were omitted from Census data. 5. Correction for discrepancy between sum of four quarters, seasonally adjusted, and the unadjusted annual totals, plus the difference between Census published seasonally adjusted totals and the summation of seasonally adjusted 4-digit end-use categories. 6. Addition of inland freight on U.S. merchandise imports from Canada; addition of electrical energy; deduction of foreign charges for repair of U.S. vessels abroad, which are included in tables 1, 2, and 10, line 22 (other transportation); net timing adjustements for goods recorded in Census data in one period but found to have been shipped in another; and coverage adjustments for special situations in which shipments were omitted from Census data. 7. Annual and unadjusted quarterly data shown in this table correspond to country and area data in table 10, lines 2 and 18, except that trade with international organizations, namely, purchases of nonmonetary gold from the IMF and transfers of tin to the International Tin Council (ITC), are included in data for other countries in Asia and Africa. The memorandum items are defined as follows: Industrial countries: Western Europe, Canada, Japan, and Australia, New Zealand, and South Africa; Members of OPEC: Venezuela, Ecquador, Iraq, Iran, Kuwait, Saudi Arabia, Qatar, United Arab Emirates, Indonesia, Algeria, Libya, Nigeria, Gabon; Other countries: Latin American Republics, Other Western Hemisphere, and other countries in Asia and Africa, less OPEC, the IMF and the ITC. 8. The statistical identification of automotive products exports to Canada (line D43) is not as complete and comprehensive as the identification of imports under the U.S.-Canada Automotive Products Trade Act. However, the underestimation of automotive shipments to Canada due to unidentified auto parts and unreported exports, amounting to about $1,842 million in 1981, has been largely corrected in line C24. 9. Includes nuclear fuel materials and fuels. Table 4: 1. Expenditures to release Israel from its contractual liability to pay for defense articles and services purchased through military sales contracts—authorized under Public Law 93-199, section 4, and subsequent similar legislation—are included in line A3. Deliveries against these military sales contracts are included in line CIO; see footnote 2. Of the line A3 items, part of the military expenditures is applied in lines A38 and A41 to reduce short-term assets previously recorded in lines A36 and C8; this application of funds is excluded from lines C3 and C4. A second part of line A3 expenditures finances future deliveries under military sales contracts and is applied directly to lines A37 and C9. A third portion of line A3, disbursed directly to finance purchases by Israel and other countries from commercial suppliers, is included in line A32. 2. Transactions under military sales contracts are those in which the Department of Defense sells and transfers military goods and services to a foreign purchaser, on a cash or credit basis. Purchases by foreigners directly from commercial suppliers are not included as transactions under military sales contracts. The entries for the several categories of transactions related to military sales contracts in this and other tables are partially estimated from incomplete data. 3. The identification of transactions involving direct dollar outflows from the United States is made in reports by each operating agency. Data for the third quarter 1982 are extrapolated estimates by BEA, because of incomplete reports from one operating agency. 4. Line A33 includes foreign currency collected as interest, and lines A38 and B2 include foreign currency collected as principal, as recorded in lines A13 and A14 respectively. 5. Includes (a) advance payments to the Department of Defense (on military sales contracts) financed by loans extended to foreigners by U.S. Government agencies and (b) the contraentry for the part of line CIO which was delivered without prepayment by the foreign purchaser. Also, includes expenditures of appropriations available to release foreign purchasers from liability to make repayment. 6. Excludes liabilities associated with military sales contracts financed by U.S. Government grants and credits and included in line C2. 7. Includes $1,000 million prepayment for petroleum to be delivered by Mexico. 8. Receipt on short-term Commodity Credit Corporation asset financing U.S. merchandise export. Table 5: 1. Acquisition of capital stock of existing and newly established companies, capitalization of intercompany accounts, and other equity contributions. 2. Sales and liquidations of capital stock and other equity holdings, total and partial. 3. Petroleum includes the exploration, development and production of crude oil and gas and the transportation, refining, and marketing of petroleum products exclusive of petrochemicals. Manufacturing excludes petroleum refining. "Other" industries includes mining; trade; banking; finance (except banking), insurance, and real estate; agriculture, forestry, and fishing; construction; transportation, communication, and public utilities; and services. Table 6: 1. As published in Treasury Bulletin. Treasury data are based on transactions by foreigners reported by banks and brokers in the United States; net purchases by foreigners ( + ) correspond to net U.S. sales (+). 2. Redemptions consist of scheduled retirements and identifiable premature retirements of U.S.-held foreign debt securities, and estimates for redemptions of Canadian issues held by U.S. residents based on Canadian statistics. Unidentifiable nonscheduled retirements appear in line 31. 3. Consists of International Bank for Reconstruction and Development (IBRD), International Development Association (IDA), International Finance Corporation (IFC), Asian Development Bank (ADB), and Inter-American Development Bank (IDE). Table 7: 1. Amounts outstanding were reduced by an increase in the reporting exemption level from $2 million to $10 million, effective March 31. Capital flows omit the impact of the drop in reporting coverage. 2. Consists of Western Europe, Canada, Japan, Australia, New Zealand, and South Africa. 3. Mainly in the Bahamas and Cayman Islands. 4. Based on data for Ecuador, Venezuela, Indonesia, and other Asian and African oil-exporting countries. Table 8: 1. Consists of Western Europe, Canada, Japan, Australia, New Zealand, and South Africa. 2. Mainly in the Bahamas and Cayman Islands. 3. Based on data for Ecuador, Venezuela, Indonesia, and other Asian and African oil-exporting countries. 4. Includes central governments (central banks, departments, and agencies), state, provincial and local governments, and international and regional organizations. Table 9: 1. Negotiable certificates of deposit issued to foreigners by U.S. banks are included with U.S. banks' custody liabilities, and are shown in the memorandum. 2. Mainly negotiable and readily transferable instruments; excludes U.S. Treasury securities. 3. Consists of Western Europe, Canada, Japan, Australia, New Zealand, and South Africa. 4. Mainly in the Bahamas and Cayman Islands. 5. Based on data for Ecuador, Venezuela, Indonesia, and other Asian and African oil-exporting countries. Monetary Fund. 7. Consists of U.S. Treasury notes denominated in foreign currencies, sold through foreign central banks to domestic residents in country of issue; notes are subject to restricted transferability. 8. Valuation of foreign currency indebtedness based on market exchange rates at end of month. Table 10: For footnotes 1-9, see table 1. 10. See footnote 11 to table 1. 11. The "European Communities (10)" includes the "European Communities (6)," the United Kingdom, Denmark, Ireland, and Greece. 12. The "European Communities (6)" includes Belgium, France, Germany, Italy, Luxembourg, the Netherlands, the European Atomic Energy Community, the European Coal and Steel Community, and the European Investment Bank. 13. Includes transactions with U.S. affiliated shipping companies operating under the flags of Honduras, Liberia, and Panama, and U.S. affiliated multinational trading companies, finance, and insurance companies, not designated by country. 14. See footnote 12 to table 1. 15. See footnote 13 to table 1. 16. Details not shown separately; see totals in lines 57 and 64. 17. Details not shown separately are included in combined lines 72 and 73. SURVEY OF CURRENT BUSINESS 54 December 1982 Table 10.—U.S. International [Millions Western Europe (Credits +; debits -) l Line 1982 Exports of goods and services . Merchandise, adjusted, excluding military 3 Transfers under U.S. military agency sales contracts Travel Passenger fares Other transportation Fees and royalties from affiliated foreigners Fees and royalties from unaffiliated foreigners. Other private services U.S. Government miscellaneous services Receipts of income on U.S. assets abroad: Direct investment Interest, dividends, and earnings of unincorporated affiliates Reinvested earnings of incorporated affiliates Other private receipts U.S. Government receipts 1981 1981 1981 IV III 2 European Communities (10) ' 1981 III" r III 1 105,740 27,038 24,985 27,250 25,667 26,026 23,405 83,417 21,456 19,596 2 3 4 5 6 7 9 10 65,090 2,782 2,152 1,178 3,859 3,035 590 1,315 100 16,578 768 600 323 936 723 143 328 22 15,103 765 739 421 981 723 152 334 36 16,308 686 458 226 989 856 161 338 19 15,756 745 374 233 947 752 r !57 359 23 15,798 651 525 287 935 750 157 368 30 13,693 843 746 403 953 780 159 382 27 51,351 1,954 1,697 974 2,896 2,719 491 1,002 77 13,140 537 476 274 708 649 119 252 16 11,912 539 596 339 729 647 127 255 31 11 12 13 14 15 11,874 7,249 4,625 12,348 1,418 3,144 2,379 765 3,129 345 2,049 1,385 664 3,313 369 3,647 2,082 1,565 3,179 383 2,523 2,025 497 3,400 2,195 2,135 60 3,984 345 1,523 1,646 -123 3,608 9,004 5,353 3,651 10,284 2,467 1,948 519 2,613 207 1,376 867 509 2,786 259 Transfers of goods and services under U.S. military grant programs, net. 16 127 43 30 29 40 84 40 35 Imports of goods and services 17 -96,632 -24,905 -25,132 -23,790 -22,811 -24,880 -24,501 -75,927 -19,685 -19,802 18 19 20 21 22 23 24 25 26 -52,873 -6,485 -3,123 -3,344 -3,578 -545 -193 -1,061 -480 -13,301 -1,789 -1,001 -1,085 -923 -65 -48 -264 -153 -13,580 -1,512 -1,256 -873 -930 -171 -48 -263 -103 -13,406 -1,683 -466 -642 -863 -123 -50 -266 -118 -12,740 -1,637 -447 -821 -779 -101 -51 -272 -124 -13,681 -1,748 -1,151 -1,154 -802 -60 -50 -276 -136 -13,159 -1,672 -1,280 -839 -852 -90 -51 -279 -119 -41,424 -5,567 -2,429 -2,531 -2,679 -354 -176 -886 -336 -10,518 -1,458 -831 810 -691 -32 -43 -220 -112 -10,770 -1,345 -907 -655 -698 -122 -44 -220 -73 27 -5,561 -2,686 -2,875 -11,755 -7,634 -1,350 -670 -680 -2,951 -1,975 -1,412 -629 -783 -3,057 -1,926 -1,538 -766 -773 -2,890 -1,748 -941 -654 -287 -3,123 -1,776 -785 -695 -90 -3,453 -1,584 -1,068 -913 -155 -3,352 -1,740 -5,132 -2,280 -2,852 -8,111 -6,304 -1,253 -576 -677 -2,077 -1,639 1,294 -543 -750 -2,094 -1,581 -43 -30 -29 -40 -84 -40 -35 -7 -16 440 97 86 Merchandise, adjusted, excluding military 3 Direct defense expenditures Travel Passenger fares Other transportation Fees and royalties to affiliated foreigners Fees and royalties to unaffiliated foreigners Private payments for other services U.S. Government payments for miscellaneous services Payments of income on foreign assets in the United States: Direct investment Interest, dividends, and earnings of unincorporated affiliates Reinvested earnings of incorporated affiliates Other private payments U.S. Government payments 29 30 31 -127 U.S. military grants of goods and services, net 32 Unilateral transfers (excluding military grants of goods and services), net 33 35 34 U.S. Government grants (excluding military grants of goods and services) U.S. Government pensions and other transfers Private remittances and other transfers 34 35 36 -182 -644 861 -10 -148 191 -24 -176 215 -6,489 37 -27,329 U.S. official reserve assets, net 4 Gold Special drawing rights Reserve position in the International Monetary Fund Foreign currencies 38 39 40 41 42 -779 (*) U.S. Government assets, other than official reserve assets, net U.S. loans and other long-term assets Repayments on U.S. loans 5 U.S. foreign currency holdings and U.S. short-term assets, net 43 44 45 46 -74 -1,180 1,093 13 -384 284 -208 -26,476 -4,588 37 -4,625 -624 -6,098 -3,139 -2,374 -765 -274 U.S. assets abroad, net (increase/capital outflow ( — ) ) U.S. private assets, net Direct investment Equity and intercompany accounts Reinvested earnings of incorporated affiliates Foreign securities U.S. claims on unaffiliated foreigners reported by U.S. nonbanking concerns: Long-term Short-term U.S. claims reported by U.S. banks, not included elsewhere: Long-term Short-term Foreign assets in the United States, net (increase/capital inflow ( +)) Foreign official assets in the United States, net U.S. Government securities6 U.S. Treasury securities Other 7 Other U.S. Government liabilities 8 U.S. liabilities reported by U.S. banks, not included elsewhere Other foreign official assets 9 Other foreign assets in the United States, net Direct investment Equity and intercompany accounts Reinvested earnings of incorporated affiliates U.S. Treasury securities U.S. securities other than U.S. Treasury securities U.S. liabilities to unaffiliated foreigners reported by U.S. nonbanking concerns: Long-term Short-term U.S. liabilities reported by U.S. banks, not included elsewhere: Long-term Short-term -779 14 1,685 5 -22,949 -136 -14 -141 -176 188 -148 -181 193 -13 -165 164 -19 -177 203 -23 -484 947 -3 -113 214 -15 -133 235 -2,562 -9,525 -13,637 -8,201 -8,574 -22,805 -5,889 2,371 901 788 -112 162 768 -1,707 (*) -637 306 901 788 -112 162 768 -1,708 -637 306 4 -252 281 -215 346 150 -74 -305 247 -16 -31 -266 247 -12 168 -152 310 10 68 -414 483 -192 -137 106 -161 -18 -114 83 13 -3,467 395 1,059 -664 165 -10,594 -1,752 -187 -1,565 -373 -13,451 -868 -370 -497 210 -8,331 -94 -34 -60 -579 -9,509 940 817 123 -429 -21,165 -2,622 1,030 -3,651 -674 -5,060 -2,722 -2,203 -519 -77 -2,660 700 1,209 -509 63 -83 14 14 1,216 5 -3,902 15 14 448 -4,475 15 14 300 -8,768 15 14 -13,270 '-10,020 12,800 -2,645 2,104 9,307 8,498 9,621 15,567 -8,627 -7,114 1,054 -5,228 -2,131 2,875 (16) (16) (16) (16) (16) (16) (16) -169 -42 -387 242 -132 166 -315 (16) (16) (16) (16) (16) (16) (16) 29,239 12,403 9,528 2,875 5,981 2,327 1,647 680 9,218 3,110 2,327 783 8,253 5,230 4,458 773 13,726 2,001 1,715 287 11,752 1,228 1,138 90 12,692 1,205 1,050 155 (16) (16) (16) (16) (16) (16) (16) 5,308 2,249 725 445 1,163 2,057 377 14 14 157 14 14 1,740 (16) (16) 5,385 6,968 590 -3,112 12,217 9,108 9,325 9,143 3,277 2,133 2,176 2,167 1,523 -147 -108 -132 2,902 3,459 3,471 3,330 (16) 684 14 1,859 477 -16,439 513 16 14 15 -19,728 10,842 „ 14 1,222 15 -3,484 15 2,074 (17) -130 -247 (17) (17) (17) 11,662 8,810 2,852 ( 17 ) 4,817 2,057 1,380 677 -252 2,985 2,234 750 (") 730 (17) 1,991 14 1,431 -159 17 -3,906 -2,318 14 -1,496 483 7 (16) (16) 2,419 -2,553 -5,905 4,034 6,338 417 3,016 2,117 1,147 1,146 1,133 534 -1,096 -1,070 -1,089 9,927 7,490 7,953 7,930 2,622 1,772 1,872 1,869 1,142 -207 -105 -120 -5,226 -2,824 Allocations of special drawing rights Statistical discrepancy (sum of above items with sign reversed) Memoranda: Balance on merchandise trade (lines 2 and 18)10 Balance on goods and services (lines 1 and 17) Balance on goods, services, and remittances (lines 77, 35, and 36).. Balance on current account (lines 77 and 33)10. See footnotes on page 53. r r 2,856 r 2,868 r 2,720 SURVEY OF CURRENT BUSINESS December 1982 55 Transactions, by Area of dollars] European Communities (10) n 1981 European Communities (6) 12 United Kingdom 1982 1981 1982 I IF III" r 1982 1981 1981 IV Line 1981 II IV III III" IF I II III IV r I IF III" 20,268 20,522 18,199 28,302 7,781 7,071 6,648 6,656 6,584 6,210 50,395 12,528 11,287 13,533 12,505 12,737 10,830 1 12,772 495 354 188 739 766 134 256 13 12,321 498 286 200 724 675 r !28 269 17 12,438 444 399 240 725 667 128 278 26 10,749 555 582 306 733 702 129 291 22 12,419 353 535 430 817 832 128 354 45 3,404 86 150 136 199 191 31 94 6 2,967 124 178 140 206 213 33 88 21 2,744 81 117 85 215 241 35 84 5 2,692 106 92 92 218 186 37 92 9 2,684 79 125 127 205 211 39 96 20 2,558 100 148 120 207 231 40 101 11 36,330 1,231 1,070 489 1,661 1,597 351 550 31 9,047 343 300 124 404 417 85 134 10 8,326 317 392 186 416 261 91 140 8 9,379 337 213 86 418 481 96 144 7 9,018 321 178 101 404 456 '88 150 7 9,148 272 250 101 407 410 86 155 6 7,600 353 407 173 409 417 86 164 9 2 3 4 5 6 7 8 9 10 2,816 1,549 1,267 2,605 266 1,992 1,692 300 2,859 299 1,584 1,688 -104 3,372 223 891 1,097 -206 3,041 200 5,412 2,566 2,846 6,874 103 1,729 846 883 1,745 12 1,193 366 827 1,896 11 1,221 837 383 1,747 73 1,176 1,133 43 1,950 7 685 326 359 2,303 11 645 489 155 2,043 8 3,018 2,564 454 3,281 787 647 1,050 -403 838 180 65 410 -344 858 227 1,374 680 694 819 178 645 485 160 868 269 86 564 -477 956 171 11 12 13 14 15 20 g 7 (*) (*) 694 1,284 -590 1,012 196 j 21,402 5 16 (*) (*) -18,726 -17,980 -19,646 -19,565 -24,961 -6,508 -7,006 -5,740 -5,629 -6,784 -7,239 -47,500 -10,544 -1,381 -380 -515 -647 -43 -45 -222 -84 -10,068 -10,862 -10,581 -1,496 -1,461 -1,571 -317 -958 -1,013 -595 -817 -600 -583 -602 -641 -62 -67 -33 -47 -46 -46 -228 -232 -235 -79 -102 -81 -12,746 -815 -952 -1,001 -950 -247 -93 -454 -54 -3,260 -236 -358 -340 -245 -21 -23 -114 -15 -3,745 -205 -320 -260 -248 -106 -24 -110 -20 -2,920 -148 -152 -192 -228 -16 -25 -110 -9 -2,817 -254 -84 -207 -206 -4 -26 -114 -9 -3,107 -189 -311 -284 -212 -10 -24 -117 -24 -3,427 -26,985 -236 -4,169 -338 -1,157 -201 -1,286 -227 -1,340 -19 -83 -24 -81 -119 -401 -13 -247 -6,840 -1,028 -385 -420 -344 -6 -20 -99 -89 -6,603 -1,004 -417 -331 -350 -12 -20 -102 -44 -7,182 - 1,069 -196 -261 -327 -19 -20 -103 -66 -6,820 -1,056 -220 -317 -294 -61 -21 -104 -63 -7,308 - 1,099 -511 -483 -305 -17 -21 -105 -70 -6,762 -1,164 -562 -336 -325 -44 -22 -106 -60 18 19 20 21 22 23 24 25 26 -1,199 -520 -678 -5,270 -1,182 -238 -155 -82 -1,353 -307 -310 -53 -257 -1,368 -291 -413 -158 -255 -1,268 -259 -104 -129 25 -1,475 -338 -496 -207 -289 -1,701 -309 -643 -311 -332 -1,671 -322 -3,924 -1,754 -2,170 -2,737 -5,091 -1,011 -419 -592 -698 - 1,326 -983 -489 -495 -699 -1,284 -1,049 -468 -582 -674 -1,164 -744 -445 -299 -728 - 1,078 -303 -407 103 -755 -914 -345 -476 131 -695 -1,008 27 28 29 30 31 (*) (*) (*) (*) (*) (*) -12,267 -11,848 -12,131 -11,506 -11,892 -11,428 17 -1,467 -627 -840 -1,965 -1,432 -843 -575 -268 -2,227 -1,436 -807 -615 -192 -2,481 -1,246 -990 -788 -202 -2,389 -1,352 -5 -20 -8 _7 84 68 65 91 260 69 67 41 73 72 80 364 85 68 74 43 42 50 33 -1 -125 210 -6 -142 216 -3 -129 197 -13 -119 222 -62 323 -17 86 -16 83 -14 55 -17 90 -17 88 -20 100 -23 -342 729 -3 -73 161 -15 -93 177 _1 -102 177 -6 -100 149 -3 -88 133 -13 -90 152 34 35 36 -7,042 - 13,038 -7,076 -6,215 -15,839 -5,120 -2,953 -4,466 -9,974 -4,902 -6,581 -6,357 -658 431 -2,093 -2,930 -2,123 382 37 802 -106 173 784 (*) (*) -1,708 -637 306 802 -106 173 784 802 -106 173 784 (*) -1,708 -637 306 802 -106 173 784 38 39 40 41 42 255 -44 186 113 62 -33 96 -2 21 -69 97 -8 167 -18 171 14 133 -49 174 8 -17 -42 27 -2 7 -4 14 -3 130 -133 -47 40 -126 -83 -75 29 -37 102 -31 33 100 31 -8 30 8 18 -6 33 -9 24 -3 21 7 43 44 45 46 -8,099 -950 317 -1,267 -475 -12,995 -736 -437 -300 98 -7,270 164 60 104 -890 -7,166 1,167 962 206 -273 -15,972 -1,478 1,368 -2,846 156 -5,103 -2,103 -1,220 -883 63 -2,959 -210 616 -827 248 112 -673 -1,076 403 -33 207 758 413 344 -118 -2,997 -1,076 -382 -694 -327 -2,855 168 328 -160 -96 -2,315 976 386 590 -281 -426 722 245 477 -262 47 48 49 50 51 u117 n.a. n.a. /52 153 -886 1 54 \55 2,343 56 14 14 263 15 - 6,937 15 - 12,561 15 -6,661 15 - 8,060 14 1,445 15 - 16,095 14 14 1,031 15 - 4,094 15 - 3,335 8,080 6,406 10,805 9,208 -1,443 (17) (17) (17) (17) (17) (17) 60 -46 105 -162 -85 -48 (17) (17) (17) (17) (17) (<7) (.7) 1,075 873 202 3,276 2,598 678 384 302 82 839 582 257 1,889 1,621 268 (n) 1,121 14 14 - 1,370 720 1,898 17 4,396 -1,890 r 1,095 903 192 102 4 -118 -213 137 -42 -4,596 369 752 -383 -46 -9,961 -796 -752 -43 185 -4,921 -786 -428 -359 -611 -6,687 420 575 -155 -13 -4,532 -929 -476 -454 -555 14 338 6,171 5,125 4,285 840 (17) 457 17 205 19 -11 28 2 106 123 7 -13 -18 14 -9 225 15 - 5,144 3,635 -264 15 - 9,086 -26 -3,616 15 - 7,094 6,236 8,896 3,213 -1,290 -73 -161 92 (17) (17) (.7) (17) (17) (17) (17) (17) 1,715 1,460 255 809 834 -25 603 315 289 876 544 332 1,664 1,072 592 2,154 1,659 495 3,362 2,781 582 1,084 785 299 (17) (17) (.7) (17) 1,005 162 152 452 (17) (17) (17) 645 858 398 - 1,324 n.a. 14 -983 n.a. 9,237 17 14 14 - 1,134 537 14 7,235 17 (») 8,338 6,168 2,170 (17) 1,920 14 14 159 14 301 14 -3,746 17 86 17 2,602 -270 -3,314 3,030 5,221 -815 646 -303 -1,206 -1,366 1,129 1,144 1,352 -2,597 2,253 1,576 876 943 940 168 -1,366 -1,263 -1,276 -327 3,341 3,601 3,601 144 1,273 1,343 1,343 -778 65 132 132 -176 909 950 950 -125 1,027 1,100 1,100 -423 -200 -128 -128 -869 - 1,029 -949 -949 9,345 2,895 3,283 3,259 2,207 262 350 347 1,723 -561 -477 -493 2,197 1,403 1,477 1,477 17 2,034 17 5,723 17 7,602 17 -8,374 17 -3,515 17 14 -186 189 17 -3,100 15 -3 (17) (17) 8 --207 4,434 - 3,062 (17) -73 32 53 15 -1,367 20 (17) 17 - 3,379 35 272 3,476 15 -49 (17) 1,092 - 1,676 -17 596 17 15 (17) (17) - 2,468 -833 -531 (17) 957 17 1,970 15 14 452 (17) (17) 1,135 692 14 82 (17) 2,855 14 15 14 98 (17) (17) -269 - 3,473 15 14 (17) 654 14 126 (17) (17) -314 14 (17) 2,096 14 426 14 n.a. 92 15 9,177 2,870 (17) 14 14 1 f57 J58 1 60 61 58 -136 (17) (17) {f 207 337 -131 262 65 66 67 68 69 n.a. /70 J71 2,011 /72 |73 476 580 -103 (17) 1,240 (17) 14 -359 17 - 1,418 17 74 2,228 2,676 2,761 2,761 r 2,288 r 2,363 r 2,356 r 3,255 1,239 -2,177 75 2,198 1,840 844 889 886 838 -598 -535 -548 76 77 78 79 r 999 r 1,048 r 1,042 SURVEY OF CURRENT BUSINESS 56 December 1982 Table 10.—U.S. International [Millions Eastern Europe 1981 Exports of goods and services Merchandise adjusted excluding military 3 Transfers under U S military agency sales contracts Travel Passenger fares Other transportation Fees and royalties from unaffiliated foreigners Other private services U S Government miscellaneous services Receipts of income on U.S. assets abroad: Other private receipts U S Government receipts 1981 1981 II r I IIP II III 1 5,317 1,072 1,040 1,435 1,804 1,200 530 60,449 17,008 14,431 2 3 4 5 6 7 8 9 10 4,461 877 782 1,208 1,608 1,022 373 45,250 119 2,624 12,991 22 697 10,592 27 682 169 30 66 49 33 36 33 22 85 4 5 21 1 6 22 1 6 22 2 6 23 (*) 6 23 (*) 6 24 2 794 980 64 512 19 204 247 16 127 2 195 250 16 123 11 90 3 4,072 2,303 1,770 5,986 29 1,248 372 876 1,443 11 935 584 351 1,596 5 11 12 13 14 15 Interest, dividends, and earnings of unincorporated affiliates IV III II 2 Canada 1982 1981 Line (Credits +; debits -) * 452 124 118 46 110 27 99 13 114 20 121 28 Transfers of goods and services under U.S. military grant programs, net . 16 Imports of goods and services 17 -1,810 -486 -441 -388 -307 -352 -367 -53,245 -14,020 -13,177 18 19 20 21 22 23 24 25 26 -1,552 -2 -57 -28 -105 -400 -1 -30 -12 -28 -367 -1 -18 -12 -27 -335 -1 -7 -2 -25 -265 -288 -1 -17 -296 (*) -22 -47,316 -135 -2,033 -12,324 -35 -521 -11,192 -32 -969 -1 -10 -31 (*) -2 -8 (*) -3 -8 (*) -3 -9 -652 -269 -14 -324 -63 -168 -80 -4 -81 -11 -174 -59 -3 -79 -31 -247 -184 -63 -1,995 -198 -225 -43 -182 -527 -45 -53 -23 -29 -541 45 Merchandise adjusted excluding military Direct defense expenditures Travel . 3 Other transportation ... Fees and royalties to affiliated foreigners Fees and royalties to unaffiliated foreigners Private payments for other services . U S Government payments for miscellaneous service? Payments of income on foreign assets in the United States: . . . Interest dividends and earnings of unincorporated affiliates Reinvested earnings of incorporated affiliates U S Government payments 27 28 29 30 31 5 -2^ -23 -24 -24 (*) -3 -7 (*) -3 -11 (*) -3 -13 6 -6 (*) -6 -9 -8 (*) -26 -26 -33 50 -41 -32 -193 -50 -57 -6 -20 -1 -6 -26 -4 76 -23 -10 -7 -25 -3 -7 -21 -216 23 -53 3 -59 2 -23 -1 U S military grants of goods and services, net 32 Unilateral transfers (excluding military grants of goods and services), net . .. 33 U.S. Government grants (excluding military grants of goods and services) U S Government pensions and other transfers Private remittances and other transfers 34 35 36 -1 -24 -91 -6 -20 37 -1,044 185 -218 -578 414 41 -21 -8,359 -1,567 -2,872 -133 -168 57 -22 -6 -22 24 -9 17 -2 15 4 -14 -4 -1 -9 -38 -107 60 10 11 -21 20 11 2 -10 8 4 445 420 -58 -8 -8,321 616 2,385 -1,770 -3,698 -1,577 95 972 -876 -1,168 -2,875 -57 294 -351 -1,255 U S assets abroad net (increase/capital outflow ( )) -116 U S Official reserve assets net 4 Gold Special drawing rights Reserve position in the International Monetary Fund Foreign currencies 38 39 40 41 42 U.S. Government assets, other than official reserve assets, net U.S. loans and other long-term assets Repayments on U.S. loans 5 U S foreign currency holdings and U S short-term assets net 43 44 45 46 -182 -489 346 -39 11 -17 32 -4 -118 -281 180 -18 U S private assets net Direct investment Equity and intercompany accounts Reinvested earnings of incorporated affiliates Foreign securities U.S. claims on unaffiliated foreigners reported by U.S. nonbanking concerns: Long-term Short-term U.S. claims reported by U.S. banks, not included elsewhere: Long-term Short-term 47 48 49 50 51 862 196 -100 Foreign assets in the United States, net (increase/capital inflow ( + )) 52 53 } 54 55 } 57 58 59 60 61 62 63 Other foreign assets in the United States net Direct investment Equity and intercompany accounts Reinvested earnings of incorporated affiliates U.S. Treasury securities U S securities other than U S Treasury securities U.S. liabilities to unaffiliated foreigners reported by U.S. nonbanking concerns: Long-term Short-term U.S. liabilities reported by U.S. banks, not included elsewhere: Long-term 64 65 66 67 68 69 70 71 15 -824 15 -207 15 -63 } } -u 17 15 -25 14 15 -420 14 -34 454 15 15 -103 167 -102 129 n.a. 45 -7 -193 66 -2,424 76 77 78 79 2,909 3,507 3,392 3,392 (17) (17) (17) 14 -1,063 15 -4,176 14 15 3,836 (*) (*) (*) (*) (*) (') (17) (17) (17) (17) (17) 14 17 22 -2 -13 23 -338 477 586 J 559 559 142 17 11 -369 415 600 574 574 14 (17) (17) (17) (") (*) 19 14 -14 17 17 -565 -1,858 111 873 1,047 1,015 1,015 -110 1,343 1,497 1,550 1,546 -2 14 17 21 147 -933 734 848 816 807 319 (16) 132 (16) 14 -4 (16) 3,043 1,656 1,593 63 (16) 187 83 54 29 3,384 830 648 182 (16) (16) (16) 790 1,034 14 95 -120 14 (16) (16) (16) 83 -2,489 -4,563 1,356 77 163 135 132 2066 7,204 7,011 7,011 667 2,988 2,937 2,937 -600 1,254 1,197 1,197 n.a. 17 -1,696 3,192 -48 14 15 133 -192 } „ (17) -1 14 497 -1,001 } «-, (17) (17) 2 } (17) (17) (17) 72 73 / 14 13 -36 (17) Memoranda: Balance on Balance on Balance on Balance on -37 793 74 75 See footnotes on page 53. 14 76 Allocations of special drawing rights Statistical discrepancy (sum of above items with sign reversed) merchandise trade (lines 2 and 18) goods and services (lines 1 and 17) 10 goods, services, and remittances (lines 77, 35, and 36) current account (lines 77 and 33) 10 11 14 -38 56 Foreign official assets in the United States, net U.S. Government securities U S Treasury securities 6 Other 7 Other U.S. Government liabilities 8 U.S. liabilities reported by U.S. banks, not included elsewhere Other foreign official assets 9 -1 (*) 371 218 -192 57 SURVEY OF CURRENT BUSINESS December 1982 Transactions, by Area—Continued of dollars] Latin American Republics and Othei/Western Hemisphere Canada 1982 1981 1981 Japan 1982 1981 1981 I IV IF III" 1982 Line 1981 II III IV I IF II III" IV III I IF III* 14,075 13,303 14,287 13,393 79,813 20,120 20,177 20,110 18,206 20,053 18.340 32,019 7,926 7,749 8,209 7,803 7,544 7,531 1 10,514 49 499 9,822 23 783 10,694 27 698 9,503 29 618 223 252 16 125 3 186 241 17 132 1 191 242 17 129 2 194 264 17 130 26 42,804 57 5,410 600 1,608 669 131 1,539 66 11,313 13 1,188 149 404 151 32 375 17 10,218 18 1,655 202 396 156 34 381 19 10,508 15 1,431 136 401 209 36 403 15 8,730 18 1,405 129 383 136 38 432 13 9,383 39 1,235 167 341 133 39 443 20 8,187 90 1,127 195 355 153 40 442 15 21,796 383 865 512 1,596 413 379 176 16 5,204 172 200 148 393 130 94 43 7 5,169 82 251 115 402 91 95 44 2 5,824 60 189 121 406 83 97 46 5 5,199 104 248 139 400 73 98 48 2 5,068 104 227 179 396 91 99 49 5 5,116 106 300 143 398 86 100 50 7 2 3 4 5 6 7 8 9 10 810 843 -34 1,573 12 447 569 -122 1,647 5 530 557 -27 1,745 12 949 400 549 1,658 6 5,845 2,591 3,254 20,698 388 1,310 498 812 5,088 80 1,388 558 830 5,594 116 1,539 863 677 5,325 92 584 515 69 6,244 95 1,059 231 828 7,107 89 799 146 653 6,807 130 275 36 239 1,234 27 128 219 -91 1,322 48 237 91 146 1,100 42 327 102 225 1,118 46 96 28 68 1,191 39 159 179 -21 1,039 27 11 12 13 14 15 25 6 934 526 408 4,771 179 _j (*) (*) (*) (*) 9 9 17 15 -13,388 -12,770 -14,181 -13,775 -58,300 -14,242 -14,655 -14,555 -15,039 -15,423 -12,390 -11,540 -12,674 -11,891 -33 -16 -40 -39 -314 -217 -920 -478 -9,654 -46 -992 -90 -282 -9 -3 -358 -72 -9,520 -64 -1,182 -110 -290 -9 -3 -362 -77 -9,786 -124 -1,051 -59 -268 -14 -3 -383 -77 -9,207 -85 -1,353 -101 -243 -11 -3 -391 -71 -9,262 -78 -1,201 -111 -266 -5 -3 -392 -88 -9,927 -37,598 -64 -1,107 -1,301 -214 -120 -189 -285 -1,939 -12 84 -3 -39 -394 -89 -112 -60 22 16 -15,753 -46,050 -11,618 -11,820 -12,248 -11,980 -11.932 -11,669 -167 -79 -3 -77 -9 -132 -85 -4 -81 -14 -171 -62 -4 -81 -14 -178 -49 -4 -84 -59 -39,099 -324 -4,540 -353 -1,096 -41 -11 -1,461 -294 165 -47 212 -433 -66 -100 -26 -74 -481 -77 -95 -82 -13 -499 -63 -41 -113 72 -447 -69 -1,013 -526 -486 -9,774 -296 -244 -99 -145 -2,417 -75 -216 -165 -52 -2,748 -75 -298 -157 -141 -2,434 -59 -198 -98 -100 -3,312 -65 -118 -108 -10 -3,846 -53 -114 -118 5 -3,361 -61 -768 -93 -675 -1,035 -3,096 -25 -6 -9 -9 -17 -15 -22 1 -9,416 -288 -75 -58 -501 16 -10 -22 -22 -9,587 -10,045 -9,993 -9,647 -9,586 -260 -296 -270 -391 -303 -57 -43 -47 -108 -64 -30 -60 -53 -67 -65 -502 -465 -418 -440 -467 19 21 16 39 47 -11 -11 -11 -10 -9 -22 -22 -24 -25 -26 -14 -17 -11 -24 -11 -216 -28 -188 -259 -768 -251 -14 -237 -271 -809 -213 -46 -167 -275 -854 -56 -24 -32 -295 -812 (*) (*) (*) (*) -130 -63 -67 -351 -777 -175 -132 -43 -321 -688 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 -48 -53 -59 -48 -1,206 -306 -311 -306 -272 -319 -432 -81 -14 -24 -20 -48 -12 -10 33 -58 9 -56 3 -58 -1 -57 9 -393 -236 -577 -101 -58 -146 -107 -64 -139 -93 -63 -149 -90 -65 -117 -102 -70 -146 -259 -56 -117 -26 -55 -4 -10 -6 -18 _7 -14 -7 -41 1 -12 4 -14 34 35 36 -1280 20 -89 580 -44,663 -3,696 -8,793 -26,391 -13,793 -18,295 -12,716 -6,801 -2,251 2,074 -3,417 534 -2,788 245 37 -200 -632 -82 -19 -33 -34 -30 -39 -38 38 39 40 41 42 -200 -632 -82 -19 -33 -34 -30 -39 -38 (*) -26 24 3 -41 -58 8 10 -25 -25 24 -23 -2 -11 9 1 -512 -1,659 1,169 -22 -165 -439 283 -9 -111 -433 325 -2 -187 -464 287 -11 -176 -439 253 10 -141 -439 299 (*) -1,184 -1 507 326 -3 -69 -141 72 -1 -24 -42 18 (*) 5 -14 18 (*) -14 -32 19 -1 12 -16 27 1 27 24 27 (*) 23 1 43 44 45 46 -1,281 1,084 1,051 34 -1.249 61 2,145 2,022 122 -894 -65 423 396 27 115 582 -702 -153 -549 -1,211 -44,151 58 3,312 -3,254 27 -3,532 241 1,053 -812 56 -8,682 224 1,054 -830 43 -26,204 136 813 -677 -111 -13,617 486 555 -69 242 -17,954 2,628 3,456 -828 327 -6,650 -506 -98 -408 35 -2,208 -118 120 -239 -53 2,102 206 115 91 462 -3,369 -313 -167 -146 -65 553 -2,775 -238 305 -13 372 -225 -68 162 -80 259 -49 -70 21 -323 47 48 49 50 51 14 14 -.-3 "-1,113 14 14 1,569 15 - 2,759 745 15 - 1,348 15 -1,203 879 280 951 -750 -58 484 (16) (16) -241 15 2,495 943 - 43,995 (17) 14 - 4,552 14 351 723 15 31,410 (16) (16) 14 14 n.a. 15 - 9,299 4,590 15 - 25,859 10,132 (17) 14 -370 15 - 15,686 18,127 (17) 14 1,340 (17) -724 15 ~ 20,185 13,328 12,503 (17) -10,901 2,398 3,052 -653 -176 n.a. 15 - 13,123 -356 15 - 5,823 8,522 -2,188 (17) (17) 14 14 (17) 169 15 - 2,206 15 103 1,330 1,650 2,169 (17) (17) 1477 -365 15 15 - 2,626 1,532 14 552 5-2,817 1,513 -2,118 (17) (17) n.a. -183 (17) 15 630 772 ( 17) 6 (16) -8 313 525 -212 (16) -97 14 234 (16) (16) -453 -1,186 -1,260 74 (16) 21 (16) 937 57 44 13 (16) -70 14 -93 (16) 14 -4 86 i -205 j 132 204 -72 (17) (16) (17) (16) 81 165 48 n.a. (16) (16) 56 f57 Jr* V>9 Uo . -85 (i (55 55 331 185 145 17 14 122 29,799 17 14 4,043 36 14 14 -85 -461 17 10,563 17 17,865 14 17 (17) 2,662 1,988 675 (17) 292 (17) 166 -65 235 n.a. 11,765 26 -33 -28 -5 (17) -394 13,600 (17) 203 193 10 14 17 34 (17) 93 -7 100 (1?) 12 (17) -231 134 (17) 302 160 141 (17) 146 17 (17) 245 193 52 (17) 97 14 (17) (17) 1,307 821 486 9 15 17 - 2,125 14 17 159 5,382 55 (17) 83 (17) 978 791 188 (17) 14 17 C7) 787 620 167 673 437 237 (17) 171 (17) 57 107 -130 14 166 1,436 17 521 26 14 420 17 -165 1 187 -81 61 (t7) 07) (17) {§ 146 114 32 (17) 104 842 775 67 (17) -55 708 665 43 C7) -268 I 64 65 66 67 68 69 14 17 -355 14 18 n.a. (T? 1,783 17-3,110 17 413 (73 -301 703 -837 -431 -7,053 -6,466 -6,551 3,014 -2,429 1,480 12,748 12,392 4,308 -149 5,943 2,177 9,304 3,131 74 75 -1,876 687 639 639 -1,718 533 480 480 -1,980 106 47 47 -2,388 -382 -429 -429 3,705 21,513 20,699 20,306 1,659 5,878 5,674 5,572 698 5,522 5,319 5,212 722 5,555 5,343 5,249 -477 3,167 2,984 2,895 121 4,630 4,414 4,312 -1,740 2,588 2,415 2,156 -15,802 -14,031 -14,112 -14,112 -4,212 -3,692 -3,706 -3,706 -4,418 -4,071 -4,094 -4,094 -4,221 -4,038 -4,059 -4,059 -4,794 -4,177 -4,225 -4,225 -4,579 -4,388 -4,399 -4,399 -4,470 -4,138 -4,147 -4,147 76 77 78 79 58 SURVEY OF CURRENT BUSINESS December 1982 Table 10.—U.S. International [Millions Australia, New Zealand, and South Africa (Credits +; debits -) l Line 1981 1982 1981 II Exports of goods End services 2 ... .... • Transfers of goods and services under U.S. military grant programs, net 13,491 3,621 3,243 3,448 2,923 3,141 2,689 8,998 371 320 216 382 377 71 267 3 2,495 39 105 56 93 90 17 67 1 2,233 105 87 62 102 95 18 68 (*) 2,287 34 61 54 93 108 19 68 2 2,022 35 66 36 89 82 20 67 1 2,245 35 115 48 89 86 20 68 (*) 1,868 38 144 79 93 92 21 67 3 11 12 13 14 15 1,910 1,038 872 558 18 499 295 204 154 5 340 222 118 131 3 542 255 287 175 6 361 245 116 141 4 226 304 -78 202 7 122 216 -94 157 6 17 -6,913 -1,702 1,669 1 503 -1,790 18 19 20 21 22 23 24 25 26 -5,608 48 -351 -224 -292 1 -1 38 -38 -1,434 12 40 -50 -75 -1 (*) 9 -9 -1,336 13 -62 -67 -78 1 (*) 10 -10 -1,442 10 -114 -53 -71 (*) (*) 10 -12 -1,135 _Y -139 -55 -64 (*) (*) -10 -8 -1,192 -16 -41 -59 -67 -1 (*) -10 -7 -1,367 -11 -77 -81 -74 (*) (*) -10 -23 27 28 29 30 31 48 -43 -6 -107 -159 5 -10 15 -25 -51 13 -5 8 -28 -53 26 -18 8 -28 -27 -3 -6 3 28 6 -2 7 31 -84 -15 -7 -8 35 -97 16 Imports of goods and services Merchandise adjusted excluding military 3 ... Direct defense expenditures Travel Passenger fares Other transportation Fees and royalties to affiliated foreigners Fees and royalties to unaffiliated foreigners Private payments for other services U.S Government payments for miscellaneous services Payments of income on foreign assets in the United States: Direct investment Interest, dividends, and earnings of unincorporated affiliates Reinvested earnings of incorporated affiliates Other private payments U S Government payments . • .. .... . .. .. III" 2 3 4 5 6 7 8 9 10 . Merchandise adjusted excluding military 3 Transfers under U S military agency sales contracts .. . Travel Passenger fares Other transportation ... Fees and royalties from affiliated foreigners Fees and royalties from unaffiliated foreigners Other private services ... U S Government miscellaneous services Receipts of income on U.S. assets abroad: Direct investment . . Interest dividends and earnings of unincorporated affiliates Reinvested earnings of incorporated affiliates Other private receipts U S Government receipts II r I IV III ... .... •••• 1 794 1 477 -29 U.S. military grants of goods and services, net 32 Unilateral transfers (excluding military grants of goods and services) net 33 -59 -16 -15 -16 -17 -18 -16 U.S Government grants (excluding military grants of goods and services) U.S. Government pensions and other transfers Private remittances and other transfers 34 35 36 (*) -14 -45 -4 -11 (*) -4 -11 (*) -3 -13 (*) -4 -13 (*) -4 -14 -4 -13 37 -2,128 -514 -578 -711 -668 -614 -785 U.S. assets abroad, net (increase/capital outflow ( — )) U.S official reserve assets net 4 Gold Special drawing rights Reserve position in the International Monetary Fund Foreign currencies 38 39 40 41 42 U.S. Government assets, other than official reserve assets, net U.S. loans and other long-term assets Repayments on U S loans 5 U.S. foreign currency holdings and U.S. short-term assets net 43 44 45 46 -79 -97 33 -15 1 -9 10 (*) -57 -58 6 -5 -25 -21 10 -14 -40 -11 5 -34 -20 -27 18 -11 -16 -8 6 -14 U.S. private assets, net Direct investment Equity and intercompany accounts .... Reinvested earnings of incorporated affiliates Foreign securities U.S. claims on unaffiliated foreigners reported by U.S. nonbanking concerns: Long-term ... . .. ... . ... Short-term U.S. claims reported by U.S. banks, not included elsewhere: Long-term Short-term 47 48 49 50 51 -2,050 -964 -92 -872 -27 -514 -356 -152 -204 46 -521 -189 -70 -118 -35 -685 -20 267 -287 7 -628 -274 -158 -116 -18 -594 -128 -206 78 -2 -769 -96 -190 94 -382 14 _ 7 n.a. 52 53 / Other foreign assets in the United States, net Direct investment Equity and intercompany accounts Reinvested earnings of incorporated affiliates U.S. Treasury securities U.S. securities other than U.S. Treasury securities U.S. liabilities to unaffiliated foreigners reported by U.S. nonbanking concerns: Long-term Short-term , U.S. liabilities reported by U.S. banks, not included elsewhere: Long-term Short-term Allocations of special drawing rights Statistical discrepancy (sum of above items with sign reversed) Memoranda: Balance on merchandise trade (lines 2 and 18) Balance on goods and services (lines 1 and 17)10 Balance on goods, services, and remittances (lanes 77, 35, and 36) Balance on current account (lines 77 and 33)10. See footnotes on page 53. -56 54 55 J 1 5 - 1,002 Foreign assets in the United States, net (increase/capital inflow ( + )) Foreign official assets in the United States, net U.S. Government securities6 U S Treasury securities Other 7 Other U.S. Government liabilities 8 .... U.S. liabilities reported by U.S. banks, not included elsewhere Other foreign official assets 9 14 57 58 j> 59 60 61 62 63 64 65 66 67 68 69 15 315 56 ; 14 17 -288 72 73 / 15 1,030 -1,216 -35 14 14 14 17 302 17 36 1,037 17 21 -1,274 -376 56 48 8 2 -10 17 170 74 75 -4,705 -2,420 234 -1,112 76 77 . 78 79 3,390 6,578 6.519 6,519 1,061 1,918 1.903 1,903 897 1,575 1.560 1,560 845 1,655 1,639 1,638 15 -456 (17) 21 40 45 5 8 -3 (") 13 63 70 -7 (") 43 14 -29 194 306 ( ) (17) 17 -291 n (17) 14 15 2,821 203 -31 14 40 (17) (17) (17) -11 15 184 177 169 8 (17) 64 -687 (17) -46 14 15 (17) (17) 6 21 -15 (17) 15 -105 (17) 283 277 6 -245 (17) -37 14 -53 -186 (17) ( ) }"" 70 71 / 14 -18 17 (17) 13 5 8 (17) 13 14 2,656 n.a. 17 240 -965 -3,828 -403 887 1,446 1.429 1,429 1,053 1,638 1,620 1,621 501 898 882 882 December 1982 59 SURVEY OF CURRENT BUSINESS Transactions, by Area—Continued of dollars] International organizations and unallocated 13 Other countries in Asia and Africa 1981 1982 1981 II 1981 1982 1981 II r I IV III II III" III 587 794 73,122 18,759 18,103 18,104 18,830 19,796 18,851 2,942 47,832 6,036 797 485 2,366 661 129 1,318 216 12,378 1,399 195 106 637 183 32 328 49 11,405 1,745 283 196 615 160 33 331 79 11,950 1,536 139 94 530 173 34 340 49 12,079 2,038 200 93 608 139 35 350 40 12,375 2,445 199 91 693 113 36 357 65 11,481 2,290 302 166 682 161 37 363 67 23 1,395 -268 336 -64 352 -55 729 4 176 1 6,439 5,001 1,438 5,247 1,596 1,744 1,351 393 1,285 424 1,463 1,193 270 1,412 382 1,439 1,089 350 1,335 486 1,546 1,161 385 1,284 417 1,582 1,314 268 1,402 439 1,446 1,320 126 1,344 513 799 187 612 347 -87 -3,567 451 164 94 27 36 27 75 -95,295 -24,857 -22,875 -23,032 -21,409 -19,244 -21,762 -80,097 -3,188 -1,142 -287 -1,639 343 -5 -311 -486 -20,960 -828 -287 -60 -422 89 -1 -76 -128 -18,986 -798 -288 -80 -423 94 _j -81 -122 -19,098 -778 -318 -87 -402 86 -1 -83 -120 -17,277 -794 -302 -77 -372 98 -1 -85 -119 -14,678 -815 -395 -72 -392 97 -86^ -145 -17,452 -794 -265 -94 -401 91 -1 -86 -144 -171 -175 5 -3,558 -4,755 -48 -49 1 -911 - 1,224 -59 -48 -11 -920 -1,212 -26 -42 16 -877 -1,326 -94 -50 -44 -894 -1,491 -148 -106 -42 -1,010 -1,599 -73 -94 21 -920 -1,623 871 807 Line II r I IV III" 854 950 23 1 37 34 9 353 -53 338 -52 346 -69 348 -38 187 2 199 1 212 1 222 1 229" 1 2 3 4 5 6 7 8 9 10 215 21 195 57 -133 163 43 120 116 30 229 99 130 55 161 43 118 115 58 179 70 109 137 4 224 114 110 113 64 11 12 13 14 15 -829 -811 -1,015 -859 -821 -921 17 16 23 -62 -2,311 -10 -605 -16 -587 -17 -535 -19 -490 -10 -490 -16 -502 -1 -478 (*) -87 (*) -37 (*) -224 (*) -101 (*) -52 '(*)' -151 18 19 20 21 22 23 24 25 26 -105 -611 -25 -102 -19 -152 -33 -206 -32 -217 -51 -194 -86 -166 27 28 29 30 31 -451 -164 -94 -27 -36 -27 -75 -4,200 -912 -1,114 -1,239 -1,384 -1,110 -860 -789 -206 -246 -144 -164 -154 -235 33 -3,151 -299 -751 -681 -60 -171 -873 -80 -162 -929 -81 -229 -1,068 -78 -239 -809 -83 -219 -536 -86 -238 -778 -195 -246 -144 -164 -135 -235 -11 -11 34 35 36 -12,811 -5,802 -2,612 -3,939 -3,946 -6,069 -3,330 -6,159 -1,135 -1,255 -1,582 -678 -1,729 -1,492 37 -4,314 -803 -872 -492 -947 -1,055 -892 -1,824 -2,491 -23 -780 -225 -647 -134 -358 -400 -547 -241 -814 -434 -459 38 39 40 41 42 -20 -3,357 -5,207 1,592 258 -770 -1,215 426 20 -806 -1,193 335 52 -577 -1,130 502 51 -507 -840 347 -14 -1,143 -1,547 363 41 -1,209 -1,580 346 26 -826 -831 5 -248 -248 -186 -187 2 -257 -257 -166 -169 3 -207 -229 22 -195 -195 43 44 45 46 -9,454 -3,136 -1,698 -1,438 -254 -5,032 -1,837 -1,444 -393 -120 -1,806 -868 -597 -270 -16 -3,362 -51 299 -350 -79 -3,439 -2,161 -1,776 -385 -298 -4,926 -312 -44 -268 -79 -2,121 -1,176 -1,051 -126 -230 -1,019 -171 442 -612 -888 -84 -90 105 -195 2 -197 -241 -121 -120 17 -834 138 268 -130 -972 435 369 487 -118 65 -467 -324 -215 -109 -143 -405 -51 58 -110 -353 47 48 49 50 51 H 642 H-173 n.a. n.a. /52 I 53 14 '« -262 15 32 -5,802 15 -128 -2,947 19,292 310 -833 (17) (17) -706 14 -263 14 -384 16,337 17 5,619 17 3,824 -1,623 130 80 17 3,909 17 -781 4,060 15 3 104 27 O O -406 15 15 -1 -1 {54 (55 -674 1,457 -751 56 „„( -9 -1 5 -166 -188 14 6 8 -9 -1 5 (17) ""( 57 58 59 60 61 62 63 -412 2,015 -665 1,458 -755 (17) (17) (17) (17) (17) 122 260 282 -21 (17) 25 -1,144 n.a. (17) 14 1,670 2,262 15 8 51 14 40 2,023 388 346 42 (17) -26 15 -715 1 6 107 63 44 (17) 15 14 14 (17) (17) 2,649 2,665 -16 200 -4,362 4,288 (17) (17) 14 15 3,516 (17) 98 135 15 6,862 (17) (17) 362 -3,172 190 180 11 68 69 -1 (17) 15 -60 37 21 (17) 2,989 2,994 -5 14 -90 3,765 (17) (17) 17 15 5,580 (17) 14 14 17 5,089 17 2,164 1,656 (17) 104 (17) 53 63 17 1,593 17 51 -16 2 17 -414 17 2,031 25 17 -689 85 17 1,373 17 -112 64 65 66 67 68 69 n.a. (70 J71 -643 {72 I 73 19,893 7,231 4,734 3,244 4,393 2,339 4,839 1,093 4,810 1,479 1,924 -89 1,504 393 2,448 74 75 -32,265 -22,174 -23,223 -26,374 -8,582 -6,098 -6,329 -7,010 -7,581 -4,772 -5,014 -5,887 -7,148 -4,928 -5,238 -6,167 -5,198 -2,579 -2,896 -3,963 -2,303 552 251 -559 -5,971 -2,911 -3,234 -3,771 23 -626 -637 -1,415 -241 -253 -447 -17 -17 -263 23 -208 -208 -352 12 12 -153 -23 33 14 -121 29 29 -206 76 77 78 79 60 SURVEY OF CURRENT BUSINESS pany account transactions with other affiliates, there was an increase of $0.5 billion to $1.5 billion in outflows to petroleum affiliates and an inflow, unchanged at $1.1 billion, from other nonpetroleum affiliates. Reinvested earnings increased $0.3 billion to $1.5 billion. Claims on foreigners reported by U.S. banks increased $21.0 billion, compared with an increase of $36.9 billion. By type, the increase in claims on bank's own foreign offices slowed to $11.6 billion from $12.0 billion; claims on unaffiliated foreign banks dropped to an increase of $9.5 billion from an increase of $14.1 billion; and claims on other foreigners dropped to an increase of $3.6 billion from and increase of $10.8 billion. With the exception of a step-up in claims on Caribbean and United Kingdom banking centers—mainly foreign branches of U.S. banks—to an increase of $14.8 billion from an increase of $10.9 billion, increases in claims on other areas slowed, as shown in the accompanying tabulation. A large part of the slowdown in of Latin American and other developing countries rose and the capacity of some countries to meet large debt service burdens came into question. Claims on Latin American (excluding the Caribbean) increased $4.5 billion, compared with an increase of $11.7 billion, as claims on Argentina, Brazil, Chile, and Mexico showed little increase after exceptionally strong growth throughout the first half of the year. Mexico and Argentina requested rescheduling of some private debt. Banks' custody accounts decreased $3.6 billion, following a decrease of $0.6 billion. U.S. money market funds apparently transferred some funds from foreign certificates of deposit and commercial paper holdings to U.S. Treasury securities. [Billions of dollars] II III Change Claims on foreigners reported by U.S. banks (increase/capital outflow ( )) 369 21 0 + 159 Industrial countries (excluding United Kingdom). . 87 1 _l_86 Caribbean and United Kingdom OPEC members Developing countries (excluding Caribbean and OPEC members) Latin America Asia and Africa 109 148 39 -12 -f 7 155 50 + 105 117 45 +72 -1.8 creased $0.2 billion, compared with $3.1 billion. Although there were large inflows from a Middle East member, most OPEC members reduced their dollar assets. Assets of other countries were unchanged, following an increase of $0.9 billion. Net foreign purchases of U.S. securities other than U.S. Treasury securities were $0.1 billion, compared with $2.5 billion. The third quarter was one of the lowest on record as a result of a shift to net bond sales of $0.2 billion from record net purchases of $1.7 billion. When yields dropped sharply in the third quarter, foreigners apparently took profits, following price increases of 20 percent since June and 25 percent from 1 year earlier. Net purchases of U.S. stocks by foreign residents were $0.3 billion, down from $0.8 billion despite an 11-percent increase in U.S. stock prices from June to September. On a gross basis, foreign sales increased $3.8 billion (60 percent) and foreign purchases increased $3.2 billion (45 percent), both to record levels. The United Kingdom and Canada were net purchasers, at $0.7 billion and $0.2 billion, respectively. Other Western European countries, mainly Switzerland, were net sellers at $0.4 billion, and Japan sold $0.2 billion. Inflows for foreign direct investment in the United States were $2.3 billion, compared with $2.8 billion. Foreign assets in the United States Foreign official assets in the United States increased $2.1 billion in the third quarter, compared with $2.0 billion in the second. Assets of industrial countries increased $1.9 billion following a decrease of $1.9 billion (table B). Large decreases in assets of France and Japan, reflecting official dollar intervention sales by those countries, were partly offset by increases in Germany's assets. Assets of Canada, Italy, Belgium, and Norway increased as those countries acquired dollar reserves. Assets of OPEC members in- Table E.—U.S.-Canadian Balance on Current Account [Billions of U.S. Dollars] 38 5 + 33 the increase in claims was on industrial countries (excluding the United Kingdom), where business conditions remained depressed. A small increase in claims on Europe (excluding the United Kingdom) was more than offset by a reduction in claims on Japan and on Canada, which included some Canadian Government repayment of drawings on credit lines with private U.S. banks. Over one-half of the slowdown in the increase in claims was on developing countries. U.S. banks were increasingly aware of their country risk exposure as debts 1981 1980 Published data1 Canada U.S. December 1982 U.S. receipts/Canadian payments: Goods and services 2 Merchandise exports Inland freight Other transportation Investment income2 Other services .. Unilateral transfers 1 1 Total2 U.S. payments/Canadian receipts: Goods and services2 Merchandise imports Inland freight Other transportation Investment income2 Other services Unilateral transfers 53.3 41.6 .7 6.9 4.2 (*) 1 Published data1 U.S. U.S. 1 47.7 , 42.7 .6 1.8 2.6 3 .3 1 Canada Canada 4.9 .3 59.5 61.4 61.4 53.2 47.3 . 52.8 46.9 2A 2.8 3 .2 .7 3.7 .4 54.6 47.4 .9 .6 2.5 3.1 .4 54.6 47.4 .9 .6 2.5 3.1 .4 7.5 .3 58.7 45.3 j .8 J 8.3 4.3 (*) 54.5 55.0 55.0 58.7 47.2 41.9 47.7 42.0 >•* 8 47.7 42.0 j .8 .5 1.5 2.8 .4 f .6 1.5 2.8 .4 I 59.3 44.0 « 4.8 8.7 .3 15 61.2 Canada Ui " 4.3 54.8 40.7 j 1.2 .6 4.9 7.3 .3 3.3 .6 .4 Adjusted data U.S. 61.2 44.6 1.3 .7 9.5 4.9 .3 54.8 40.7 1.2 .6 4.9 7.3 .3 54.3 40.8 53.3 j Adjusted data (1i Total2 47.9 47.6 48.2 48.2 53.4 53.2 55.0 55.0 U.S. current-account balance (U.S. surplus/ Canadian deficit +) 5.4 6.9 6.9 6.9 5.3 6.3 6.4 6.4 1. U.S. data as published in the June 1982 SURVEY OP CURRENT BUSINESS; Canadian data as published in Quarterly Estimates of the Canadian Balance of International Payments; Second Quarter 1982. 2. Excludes reinvested earnings of incorporated affiliates. 3. U.S. published data are net payments. December 1982 The decrease largely reflected one transaction involving a transfer of funds borrowed in the United States to a foreign parent. Reinvested earnings increased $0.1 billion. Liabilities to private foreigners and international financial institutions reported by U.S. banks increased $11.5 billion, compared with an increase of $24.6 billion. The largest slowdown was in banks' liabilities to Caribbean and United Kingdom banking centers—to an increase of $4.5 billion from an increase of $9.3 billion. The slowdown, in connection with the step-up in claims on these centers mentioned earlier, resulted in increased net funding of branches from the United States, partly as the cost of U.S. funds declined more rapidly SURVEY OF CURRENT BUSINESS than that of foreign-source funds. Liabilities to unaffiliated foreign banks and other foreigners slowed to an increase of $7.4 billion from an increase of $12.7 billion. The 500 basis point decline in U.S. deposit rates to levels close to some key foreign rates slowed deposit increases from most geographic areas, especially Latin America. Foreign resident's purchases of U.S. Treasury securities increased $1.3 billion, compared with $2.1 billion, as yields on those securities also declined. U.S.-Canadian balance on current-account reconciliations Reconciliation of the 1981 bilateral current-account balance of payments 61 statistics of the United States and Canada and revision of the 1980 current-account reconciliation were completed in October 1982 (table E). Revisions in the U.S. international transactions data based on the reconciliations with Canada will be incorporated in the published data in June 1983 insofar as is possible. Full substitution of the reconciled data for the previously published data is not possible because U.S. transactions with other areas would be affected. Current-account reconciliations for the years 1970-79 appear in the June 1975, September 1976, September 1977, December 1979, June 1981, and December 1981 issues of the SURVEY OF CURRENT BUSINESS. SURVEY OF CURRENT BUSINESS 62 December 1982 Subject Guide Volume 62 (1982) Articles and "Business Situation" sections are listed below by subject. Title, author, and issue and beginning page numbers are given. (Each issue contained the "National Income and Product Accounts Tables" and a discussion of estimates therein.) NATIONAL Econometric models BEA Long-Term Econometric Model. (Staff Paper Summary.) Henry Townsend. 2-2. Social Security Contributions Equations of the BEA Quarterly Model. (Paper Summary.) Christian Ehemann. 4-72. Stage-of-Processing Price Sector for the BEA Quarterly Econometric Model. (Working Paper Summary.) Albert A. Hirsch. 12-10. Employment and unemployment Unemployment: An Overview. 12-6. Fixed capital stock Fixed Reproducible Tangible Wealth in the United States. (Fixed Nonresidential Private and Residential Capital, 1977-81; Government-Owned Fixed Capital, 1973-81; Durable Goods Owned by Consumers, 1972-81.) John C. Musgrave. 10-33. GNP by industry Gross Product by Industry, 1981. National Income and Wealth Division. 4-20. Government transactions Federal Budget Developments. Joseph C. Wakefield. 9-21. Federal Fiscal Programs. Charles A. Waite, Joseph C. Wakefield. 3-19. Government Sector. 3-5; 8-2; 10-6; 11-2. High-Employment Budget and Potential Output: A Critique. William Fellner. 11-26. High-Employment Budget and Potential Output: A Response. Frank de Leeuw, Thomas M. Holloway. 11-33. High-Employment Budget: Revised Estimates and Automatic Inflation Effects. Frank de Leeuw, Thomas M. Holloway. 4-21. National Defense Purchases. (Special Note.) 11-4. National Defense Purchases: Detailed Quarterly Estimates, 1977-82. Richard C. Ziemer, Joseph C. Wakefield. 11-13. Sources of Change in Federal Government Transfer Payments to Persons, 1970-81. Thomas M. Holloway. 10-25. Sources of Growth in Selected State and Local Government Tax Receipts. David J. Levin. 2-15. State and Local Government Fiscal Position, 1981. David J. Levin. 123. Input-output Employment and Employee Compensation in the 1972 Input-Output Study. (Staff Paper Summary.) Jane-Ring F. Crane. 2-2. Summary Input-Output Tables of the U.S. Economy: 1973, 1974, and 1975. (Staff Paper Summary.) Paula C. Young, Shirly F. Loftus. 2-2. Integrated economic accounts Errata for "Integrated Economic Accounts for the United States, 194780" in May 1982. 11-50. Integrated Economic Accounts for the United States, 1947-80 Richard Ruggles, Nancy D. Ruggles. 5-1. Integrated Economic Accounts for the United States, 1947-80: Comments. Hans J. Adler, Preetom S. Sunga, Carol S. Carson, George Jaszi, Edward F. Denison, John A. Gorman, Martin L. Marimont, Stephen P. Taylor, Helen Stone Tice, James Tobin. 5-54. Integrated Economic Accounts: Reply. Richard Ruggles, Nancy D. Ruggles. 11-36. Inventories and sales Inventory Investment and Economic Instability. Frank de Leeuw. 1223. Manufacturing and Trade Inventories and Sales in Constant Dollars. 1981:III-1981:IV, 2-59. Mortgage markets Mortgage Markets. 9-12; 12-4. Recent Developments in Mortgage Markets. Daniel J. Larkins. 2-19. Motor vehicles Motor Vehicle Developments. 3-2; 6-2; 9-4; 12-3. Motor Vehicles, Model Year 1982. Douglas R. Fox. 10-20. National income and product accounts (NIPA 's) See also Integrated economic accounts. Command Over Goods and Services. 3-4. Commodity Credit Corporation in the National Income and Product Accounts. (Special Note.) 1-6. Errata for "International Transactions in Measures of the Nation's Production" in May 1981. 3-4. Errata for "National Income and Product Account Tables" in* July 1982. 8-9. Errata for National Income and Products of the United States, 1929-76: Statistical Tables. 7-130. Reinvested Earnings of Incorporated Affiliates in the National Income and Product Accounts. (Special Note.) 9-6. Revisions. Fourth Quarter 1981, 2-1 and 3-6; Second Quarter 1982, 8-1 and 9-8; Third Quarter 1982, 11-1 and 12-11. Summary National Income and Product Series, Annually and Quarterly: 1950-81. 10-39. U.S. National Income and Product Accounts: Revised Estimates, 197781 and First Quarter. 7-4. Plant and equipment expenditures Plant and Equipment Expenditures. John T. Woodward. Year 1982, 120; First and Second Quarters and Second Half of 1982, 3-26; Four SURVEY OF CURRENT BUSINESS December 1982 Quarters of 1982, 6-22. John T. Woodward, Eugene P. Seskin, J. Steven Landefeld. Four Quarters of 1982, 9-35; Quarters of 1982, and First and Second Quarters of 1983, 12-32. Pollution abatement and control Plant and Equipment Expenditures by Business for Pollution Abatement, 1981 and Planned 1982. Gary L. Rutledge, Betsy D. O'Connor. 6-17. Pollution Abatement and Control Expenditures, 1972-80. Gary L. Rutledge, Susan L. Trevathan. 2-50. Stock of Plant and Equipment for Air and Water Pollution Abatement in the United States, 1960-81. Gary L. Rutledge, Frederick G. Kappler. 11-18. Profits Alternative Estimates of Capital Consumption and Profits of Nonfmancial Corporations, 1977-81. 10-37. Corporate Profits. Fourth Quarter 1981, 3-5 and 4-7; First Quarter 1982, 6-4; Second Quarter 1982, 8-1 and 9-5; Third Quarter 1982, 112 and 12-5. Domestic Nonfinancial Corporate Profits. Bruce T. Grimm. 1-30. Reconciliation and other special tables Command Over Goods and Services. 6-16; 9-20; 12-22. High-Employment Federal Receipts and Expenditures. 3-18; 8-10; 1112. Reconciliation of BEA Compensation and BLS Earnings. 2-14; 8-9; 1112. Reconciliation of Net Exports and Balance on Goods and Services. 318; 6-16; 9-20; 12-22. Reconciliation of Quarterly Changes in Measures of Prices Paid by Consumers. 2-14; 8-9; 11-12. 63 U.S. Business Enterprises Acquired or Established by Foreign Direct Investors in 1981. R. David Belli. 6-27. International transactions, measurement in the NIP A's Errata for "International Transactions in Measures of the Nation's Production" in May 1981. 3-4. Investment position International Investment Position of the United States: Developments in 1981. Russell B. Scholl. 8-42. Reconciliation and other special tables Command Over Goods and Services. 6-16; 9-20; 12-22. Reconciliation of Net Exports and Balance on Goods and Services. 318; 6-16; 9-20; 12-22. Travel International Travel and Passenger Fares, 1981. Joan E. Bolyard. 6-32. U.S. investment abroad Capital Expenditures by Majority-Owned Foreign Affiliates of U.S. Companies. Ralph Kozlow. 1982, 3-32; 1982 and 1983, 9-42. Employment and Employee Compensation of U.S. Multinational Companies in 1977. Obie G. Whichard. 2-37. Errata for "Employment and Employee Compensation of U.S. Multinational Companies in 1977" in February 1982. 4-46. Growth of U.S. Multinational Companies, 1966-77. Ned G. Howenstine. 4-34. U.S. Direct Investment Abroad in 1981. Obie G. Whichard. 8-11. INTERNATIONAL REGIONAL Balance of payments Errata for "U.S. International Transactions, First Quarter 1982" in June 1982. 7-136. U.S. International Transactions. Fourth Quarter and Year 1981, Christopher L. Bach, 3-37; First Quarter 1982, Russell C. Krueger, 6-36; Second Quarter 1982, Russell C. Krueger, 9-48; Third Quarter 1982, Anthony J. DiLullo, 12-38. Personal income Accounting for Regional Differences in Per Capita Personal Income Growth, 1929-79. Daniel H. Garnick, Howard L. Friedenberg. 9-24. Revised County and Metropolitan Area Personal Income. Regional Economic Measurement Division. 4-49. Sensitivity of Regional and State Nonfarm Wages and Salaries to the National Business Cycle, 1980:1-1981:111. Robert Bretzfelder, Howard Friedenberg. 1-26. State Personal Income. 1-29; 4-47; 7-S-36; 10-19. State Personal Income, 1929-81: Revised Estimates. Regional Economic Measurement Division. 8-48. Foreign investment in the United States Foreign Direct Investment in the United States in 1981. Ned G. Howenstine, Gregory G. Fouch. 8-30. 1983 U.S. INDUSTRIAL OUTLOOK READY An annual review and forecast for 250 industries with projections to 1987. A useful reference in planning and forecasting for your business; an aid to judging your company's performance and progress, and its potential. The 580-page book is an inexpensive and convenient compilation of historical data ,current trends, near-term and long-term prospects, rates of growth, and other measures of industrial expansion. Special articles in the 1983 edition analyze the effect on certain industries of increased defense spending; summarize the forecasts for the manufacturing sector; and examine economic performance of U.S. industries for 1973 to 1981. MAIL THIS ORDER FORM TO: Superintendent of Documents, U.S. Government Printing Office, Washington, D.C. 20402 Credit Card Orders Only . D check, Enclosed is $ V/S4' Fill in the boxes below. Total charges $ D money order, or charge to my Deposit Account No. Credit i | | i i Card No. I I I I I Expiration Date ,—,—. Order No._ Month/Year I I I I \SI L*S\X\Sl«l I I V X I l l « ^ i i i i i i i i-n Please send at $ 11 per copy. copies of the 1983 U.S. Industrial Outlook S / N 003-008-00188-2 Name—First, Last I I I I I I I I I I I I Street address I I I I I I I I I I I City I I I I I (or Country) I I I I I I I I Company name or additional address line PLEASE PRINT OR TYPE I 11 I i I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I State ZIP Code I I I I I I I I I I I I I I I I I For Office Use Only Quantity Charges Enclosed To be mailed . Subscriptions. Postage Foreign handling MMOB OPNR .. UPNS .. Discount ... Refund THE STATISTICS here update series published in the 1979 edition of BUSINESS STATISTICS, biennial statistical supplement to the SURVEY OF CURRENT BUSINESS. That volume (available from the Superintendent of Documents for $9.50, stock no. 003-010-00089-9) provides a description of each series, references to sources of earlier figures, and historical data as follows: For all series, monthly or quarterly, 1975 through 1978, annually, 1947-78; for selected series, monthly or quarterly, 1947-78 (where available). The sources of the series are given in the 1979 edition of BUSINESS STATISTICS; they appear in the main descriptive note for each series, and are also listed alphabetically on pages 171-172. Series originating in Government agencies are not copyrighted and may be reprinted freely. Series from private sources are provided through the courtesy of the compilers, and are subject to their copyrights. 1980 Unless otherwise stated in footnotes below, data through 1978 and descriptive notes are as shown in the 1979 edition of BUSINESS STATISTICS 1981 1982 1981 Annual Oct. Nov. Dec. Jan. Feb. Mar. Apr. May June July Sept. Aug. Oct. Nov. GENERAL BUSINESS INDICATORS PERSONAL INCOME BY SOURCE t Seasonally adjusted, at annual rates: t Total personal income bil. $.. Wage and salary disbursements, total do.... Commodity-producing industries, total.... do.... Manufacturing do.... Distributive industries do 2,160.4 1,356.1 468.0 354.4 3305 2,415.8 1,493.9 510.8 386.4 361 4 2,487.2 1,528.9 520.4 392.1 3677 do.... do.... do 297.4 260.2 1272 338.6 283.1 140 4 do.... do.... 19.4 96.9 Rental income of persons with capital consumption adjustment bil $ Dividends do.... Personal interest income do.... Transfer payments do.... Less: Personal contrib. for social insur do.... Total nonfarm income do.... DISPOSITION OF PERSONAL INCOME * Service industries Govt. and govt. enterprises Other labor income Proprietors' income: i Farm Nonfarm Seasonally adjusted, at annual rates: Total personal income bil. $.. Less: Personal tax and nontax payments do.... Equals: Disposable personal income do.... Less: Personal outlays do.. Personal consumption expenditures do.... Durable goods do.. Nondurable goods do.... Services .. do Interest paid by consumers to business do Personal transfer payments to foreigners (net) do Equals' personal saving do Personal saving as percentage of disposable personal income § percent Disposable personal income in constant (1972) dollars bil $ Personal consumption expenditures in constant (1972) dollars do.... Durable goods . do Nondurable goods do.. Services do Implicit price deflator for personal consumption expenditures index, 1972—100 INDUSTRIAL PRODUCTION Federal Reserve Board Index of Quantity Output Not Seasonally Adjusted Total index 1967—100 By industry groupings: Mining and utilities Manufacturing Nondurable manufactures Durable manufactures Seasonally Adjusted Total index By market groupings: Products, total Final products.... Consumer goods See footnotes at end of tables. 3 9 3 - 9 3 6 0 - 63 - SI 2,497.6 1,530.5 514.0 384.7 367 8 349.7 291.1 1447 24.0 100.7 26.3 99.0 24.7 100.1 228 199 173 163 169 173 99.5 98.6 98.4 98.8 99.3 100.3 329 55.9 263.4 297.2 88.7 2,117.3 339 62.5 329.0 336.3 104.9 2,364.1 336 65.0 349.7 347.1 107.0 2,431.8 33 6 65.2 351.1 351.5 107.2 2,444.6 33 6 65.4 352 1 353.6 106.8 2,444.6 33 7 65.6 355.5 352.4 110.3 2,448.6 33 9 65.9 3598 353.8 110.9 2,465.5 34 0 65.9 363.8 357.5 110.6 2,470.8 2,160.4 336.3 1,824.1 1 7179 1,667.2 2143 670.4 782 5 2,415.8 386.7 2,029.1 18989 1,843.2 2346 734.5 874 1 2,487.2 2,499.0 2,497.6 394.7 393.9 391.2 2,096.0 2,105.1 2,103.0 19302 19433 19547 1,872.1 1,885.1 1,896.4 228 1 2307 230 1 742.7 745.9 751.0 901 3 908 5 915 3 49 9 55 1 57 4 57 5 57 6 57 7 57 7 57 9 58 2 58 3 58 8 08 06 06 07 07 08 08 09 09 09 1062 1302 165 8 161 8 148 3 143 4 130 6 143 3 152 4 58 64 74 76 72 67 66 67 68 10180 355.0 293.6 146 9 2,499.1 2,513.8 2,518.6 1,535.7 1,546.6 1,542.6 513.5 512.2 517.1 383.7 384.1 387.6 369 7 373 0 371 4 357.0 361.4 360.1 295.4 297.6 296.4 1480 1502 149 1 2,535.5 2,556.2 1,546.6 1,560.4 511.6 515.1 383.9 386.4 3725 376 9 363.7 368.5 298.8 300.0 151 3 1525 2,566.3 r2,588.3 r2,592.0 r2,597.2 r2,611.3 2,621.1 1,571.1 1,570.1 1,562.9 1,569.5 1,570.3 1,570.1 r 513.0 500.4 510.3 507.3 r503.3 514.1 375.2 386.7 385.8 384.0 rr381.5 rr377.2 378 1 3789 3782 3778 3762 3768 r 370.7 374.3 384.5 378.2 '381.0 r382.6 304.2 309.0 301.2 303.6 307.4 302.8 1536 1546 1555 1565 1572 1579 2,499.0 1,534.2 518.7 389.4 369 3 353.8 292.5 1458 34 2 34 1 66.1 66.2 368.0 372.0 363.9 364.8 110.8 111.6 2,486.8 2,506.9 166 17.3 100.9 18.0 100.2 16.0 102.5 101.7 343 345 34 6 347 348 343 67.7 68.4 68.9 66.1 66.6 67.3 379.6 376.0 r377.6 rr378.3 rr378.8 rr379.4 379.7 399.2 383.3 392.0 366.9 380.2 112.4 111.7 112.4 112.4 112.2 112.5 2,516.0 r2,538.5 r2,542.8 r2,548.5 r2,561.2 2,569.1 2,499.1 2,513.8 2,518.6 2,535.5 2,556.2 2,566.3 r2,588.3 r2,592.0 r 389.9 410.7 393.5 394.2 389.1 403.7 395.3 396.3 2,109.2 2,117.5 2,124.4 2,146.3 2,152.5 2,155.6 r2,194.8 rr2, 196.7 19658 19869 1981 1 19939 2013 1 20144 2 033.8 2 041 3 1,907.4 1,928.3 1,922.4 1,934.8 1,954.0 1,954.7 1,974.1 1,981.5 2347 236.8 2456 2378 240 1 2388 2388 2366 767.9 746.0 758.9 767.7 755.9 745.4 747.0 759.2 932 3 926 7 938 2 958 0 r969 4 r977 3 949 1 949 1 r 2,597.2 r 394.6 r 2,202.7 r 2 063 1 r 2,003.2 r 2476 r 769.5 r 58 9 58 9 59 i 09 08 08 08 139 4 141 2 161 0 155 4 139 5 67 68 r r r 1 043 1 1 054 1 1 053 0 1 048 6 1 042 9 1 047 7 1 050 0 10576 19.0 104.2 17.3 103.7 70 986 0 69 r 2,611.3 r 397.9 r 2,213.4 r 2 069 2 r 2,009.4 r 239 1 r 772.5 r 997 7 2,621.1 399.2 2,221.9 20928 2,032.8 2570 774.9 1 000 8 r 59 1 59 0 r O9 09 144 2 129 1 62 66 1 058 1 1 048 8 1 060 81 058 01 056 1 1 054 3 930.5 137 1 3558 4376 947.7 140 0 3624 4452 941.5 133 6 361 5 446 4 943.0 134 8 3627 445 5 945.6 133 9 365 1 446 7 943.1 135 4 3595 4482 954.1 139 0 3655 449 6 950.1 138 0 3614 4507 953.4 137 7 3627 453 0 960.5 141 5 3678 451 2 951.0 135 8 3629 452 3 r 954.1 134 9 366 1 r 4532 r 954.4 134 5 3660 r 4539 r 1792 1945 1988 1999 2005 2022 202 1 2023 2029 203 4 2055 r 2069 r r 147 0 151 0 152 4 146 4 139 1 136 6 142 7 142 0 139 4 138 5 141 8 136 2 140 5 2076 960.4 140 0 r 3655 r 454 9 957.1 135 2 3655 456 4 2086 2099 141 1 P 135 7 1366 139 2 do do do.... do.. 1495 1550 1525 152 0 155 2 164 3 159 7 152 7 146 7 142 4 143 9 144 6 146 8 140 2 P 1467 161.2 1367 1504 164.8 1405 1524 169.3 1407 145 6 161.0 1349 137 0 149.4 1284 133 1 147.1 1234 140 7 156.6 1297 140 7 156.6 1297 138 4 154.7 127 1 138 0 154.5 1266 141 6 159.9 1289 135 1 152.9 1227 139 3 161.9 1237 141 2 164.3 1252 P 139 5 "162.4 P 1237 e do 147 0 151 0 149 1 146 3 143 4 140 7 142 9 141 7 140 2 139 2 138 7 138 8 138 4 137 3 P e 140.6 1398 143.3 P 139.4 P 1386 P e !38 1 e do.... do do.... 146.7 1453 145.4 150.6 1495 147.9 149.4 1489 146.5 147.5 1472 144.0 146.2 1463 142.0 142.9 1428 139.6 144.6 144 i 141.8 143.7 1433 141.5 142.9 1426 142.1 142.3 1422 143.6 142.1 142 1 144.8 142.6 1425 145.8 142.0 141 2 144.1 137 4 136 2 142.3 !355 156.8 e !208 !35 6 138.9 !41.6 S-l SURVEY OF CURRENT BUSINESS S-2 1980 Unless otherwise stated in footnotes below, data through 1978 and descriptive notes are as shown in the 1979 edition of BUSINESS STATISTICS 1981 1981 Oct. Annual December 1982 Nov. 1982 Dec. Jan. Feb. Mar. Apr. May June July Aug. Oct. Nov. 131.3 1355 105.8 r 943 "127.0 P 1230 P 89.6 P 795 126.0 e !209 e 87.2 e 777 Sept. GENERAL BUSINESS INDICATORS—Continued INDUSTRIAL PRODUCTION— Continued Seasonally Adjusted — Continued By market groupings—Continued Final products—Continued Durable consumer goods Automotive products Autos and utility vehicles Autos Home goods 1967=100.. do do.... do 136.7 132.8 110.1 103.6 140.5 1379 111.2 1034 136.3 132.8 101.7 92.5 129.7 121 7 88.9 81 1 123.2 1192 87.5 78 1 , Nondurable consumer goods Clothing Consumer staples Consumer foods and tobacco Nonfood staples Equipment Business equipment Industrial equipment # Building and mining equip Manufacturing equipment Commercial, transit, farm eq. # Commercial equipment Transit equipment Defense and space equipment Intermediate products Construction supplies Business supplies 120.1 1092 71.6 61 3 125.9 1175 82.0 705 128.1 1250 93.6 798 130.7 1299 100.5 872 132.6 1389 111.8 96 1 134.6 1430 117.1 1019 137.3 1497 127.7 1146 132.9 1355 r !07.1 r 933 do.... 138.9 142.0 138.2 134.1 125.4 126.3 130.6 129.9 131.1 129.1 129.9 130.4 r !31.4 128.9 "129.2 128.8 do.... do do.... do do.... 148.9 1260 155.2 1474 164.3 150.9 1198 159.5 1503 170.0 150.5 1178 159.6 1507 169.9 149.7 116 1 159.0 1504 169.1 149.5 1138 159.4 1509 169.3 147.4 148.1 146.8 146.6 147.9 148.8 149.1 148.6 148.1 P 147.8 158.9 1500 169.1 159.2 151 1 168.7 158.1 1496 168.0 158.3 148 1 170.0 159.0 1499 169.5 159.9 1509 170.4 159.7 1499 171.2 159.4 1496 170.8 158.7 1485 170.5 P 159.0 P 158.4 1493 "170.3 169.6 do.... do do.... do do.... 145.2 1732 156.5 2399 128.2 151.8 181.1 166.4 2862 127.9 152.1 180.5 166.9 2956 125.7 151.5 179.0 165.1 2938 123.6 152.1 179.0 164.0 2946 122.0 147.2 1722 158.1 2890 116.9 147.3 171 6 155.9 2749 116.8 145.9 1690 151.2 2569 116.3 143.4 1649 145.9 2422 114.0 140.4 159.9 138.9 2244 109.7 138.4 1567 134.0 2090 107.5 138.0 1549 131.3 2004 106.0 137.3 1539 128.4 1908 104.4 135.0 1502 123.8 182 1 101.6 P 133.6 P 1469 P 119.0 P 1640 P e !33.4 e !46 1 e l!8.5 e !680 e do.... do do.... 192.4 2378 139.9 198.0 2587 125.4 196.2 259.8 120.6 195.0 2606 116.6 196.3 2629 117.5 188.5 256 1 109.0 189.9 2564 110.4 189.5 2578 110.5 186.9 253 1 110.9 184.1 247.7 110.9 183.0 2475 108.3 182.2 2488 106.3 183.3 r 2535 102.0 180.6 r 251 9 r 96.5 P 179.3 P 251 2 P 177.8 e 2500 e 91.0 do.... do do.... do 98.2 151.9 140.9 1628 102.7 1544 141.9 1667 104.5 151.4 135.2 1675 105.3 1487 130.1 167 1 107.0 1459 127.0 1646 105.2 1434 124.2 1624 106.5 1463 127.5 165 1 107.0 1452 125.6 1646 107.2 1437 123.6 1637 107.7 142.6 122.2 162.8 107.6 141.9 123.1 1606 109.5 142.8 124.1 161 4 109.5 1447 127.1 162 1 109.5 1434 125.4 161 4 "111.2 P 142 1 P 124.2 P 1599 e l!2.1 e !41 8 e e 148.3 100.6 93.1 99.0 !24.1 Materials Durable goods materials Nondurable goods materials Energy materials do do.... do.... do.... 147.6 143.0 171.5 129.3 151 6 149.1 174.6 129.0 148.5 145.6 170.6 128.3 1446 141.0 164.7 128.1 139.0 134.0 158.3 127.4 1372 129.7 156.8 130.9 1404 132.4 164.2 130.3 1385 130.7 162.0 128.2 1362 128.1 160.3 125.8 134.3 126.6 156.6 125.4 133.5 126.6 153.5 125.4 1330 126.0 152.3 126.0 1328 125.1 154.5 124.5 1322 123.2 158.3 121.6 P 131 2 P 120.4 P 158.8 "123.1 e By industry groupings: Mining and utilities Mining Metal mining Coal Oil and gas extraction # Crude oil \atural gas Stone and earth minerals do.... do.... do.... do.... do do.... do do 149.5 132.7 109.2 146.7 133.3 94.9 111.1 1328 155.0 142.2 123.1 141.3 146.8 95.1 111.8 1294 156.1 145.3 119.8 166.9 148.9 94.0 111.9 1220 155.4 143.3 115.4 160.8 1484 93.9 108 1 1167 154.7 142.6 110.9 145.5 150.5 94.5 110.5 1157 157.4 144.5 121.3 147.9 151.5 96.2 111.3 1158 155.6 142.4 120.8 156.0 1466 94.7 1088 1205 153.1 138.1 109.9 155.6 141.4 94.2 1078 121 6 151.6 134.1 108.8 146.2 1377 95.9 1072 1196 148.8 128.9 90.0 149.2 132.7 95.2 102.8 1146 145.2 123.5 71.8 144.4 129.1 95.7 102.3 1066 142.6 120.1 58.1 140.3 127.0 95.7 102.8 1038 141.3 116.9 r 53.4 135.8 1233 95.0 995 1057 139.8 115.0 r 55.3 127.9 121 4 95.4 "141.0 "116.6 "69.1 "143.2 "1193 "94.3 e 1063 "1086 do.... do.... 168.3 189.7 169.1 190.9 168.1 189.4 168.9 190.9 168.2 190.2 171.8 195.2 170.4 192.5 170.0 191.7 171.0 193.1 170.9 193.4 169.4 191.6 167.7 189.2 168.5 189.9 167.6 188.3 "168.2 P 189.6 167.2 188.3 Manufacturing Nondurable manufactures Foods do.... do . do.... 146.7 161.2 149.6 150.4 164.8 152.1 148.0 162.8 151.4 145.0 160.3 153.0 142.0 157.4 152.8 138.5 155.1 151.1 140.9 157.8 151.7 140.1 157.3 150.8 138.7 156.1 149.7 137.9 155.0 150.5 137.7 1553 151.0 138.1 1557 151.0 138.0 1569 150.7 137.1 1569 149.8 "135.6 "1563 "150.0 134.9 e !560 Tobacco products Textile mill products Apparel products Paper and products do do.... do do.... 1199 138.6 1270 151.1 1222 135.7 1204 155.0 1243 132.5 1178 153.3 1196 126.1 1138 152.6 1126 122.8 114 1 146.6 1127 120.0 1267 125.8 1267 126.0 116 1 126.3 1186 123.5 1236 123.7 121 4 124.3 1206 125.9 114 3 126.4 "128.1 148.3 151.5 150.6 149.8 146.5 146.8 147.0 152.5 154.2 "154.4 e Printing and publishing Chemicals and products Petroleum products Rubber and plastics products Leather and products do.... do do.... do do.... 139.6 207 1 132.9 255 7 70.1 144.2 2156 129.7 2740 69.3 145.6 2088 128.3 2760 71.2 143.4 2046 128.0 264 1 70.8 145.3 1998 128.3 2473 65.6 145.6 1967 123.3 244 7 63.1 146.4 201.3 119.5 251 8 64.0 145.9 2003 121.3 2534 61.2 144.2 1986 120.8 255 1 60.6 143.8 1936 122.2 2570 61.1 142.6 1932 124.3 2589 62.3 143.9 194 1 124.7 2568 62.9 145.3 1956 121.4 261 1 60.8 144.3 1960 124.4 2620 r 60.9 "142.4 "1955 "125.3 "2557 "59.9 142.8 do.... do do.... do.... do do do . do.... do.... do do.... 136.7 78.5 119.3 150.0 1475 102.3 924 119.8 134.1 1628 172.8 140.5 81 1 119.1 157.2 1479 107.9 99.8 122.4 136.4 171 2 178.4 137.8 82.5 109.6 157.2 1434 102.3 92.2 119.3 133.8 1697 179.6 134.4 843 104.7 153.7 1359 96.6 872 112.8 130.2 1679 175.7 131.3 85.5 104.8 149.4 131 5 89.6 792 108.0 126.1 1674 170.7 127.1 84 1 99.2 144.3 1285 89.7 796 108.9 120.7 1609 168.2 129.3 83.8 104.9 148.4 135.0 88.5 78.5 106.7 121.4 1600 172.9 128.2 83.8 103.5 150.2 1315 83.0 73.0 100.7 121.1 1573 172.6 126.7 85.2 106.2 151.8 1270 76.4 65.1 95.9 119.1 1537 172.2 126.1 86.3 110.6 151.1 1250 75.2 624 97.0 115.8 1500 170.9 125.5 865 112.2 124.9 r 86.5 120.3 123.4 r 86.9 120.2 "121.3 "887 "118.4 120.3 e 89.5 152.5 126 1 72.8 580 98.9 115.0 1474 170.8 125.9 87.1 116.9 154.5 126.9 72.9 58.1 102.9 115.5 147 1 170.3 156.7 1288 r 72.9 574 100.3 114.3 1472 169.7 155.7 1300 73.3 r 565 106.2 112.2 144 1 167.0 "154.7 "1289 e 70.1 "72.4 "552 "100.1 e "109.9 " " 109.3 "141 1 e!386 "166.1 165.6 do do.... do ... 1169 119.0 171.1 116 1 122.3 170.3 1106 113.8 168.6 106 1 105.5 167 1 1037 100.4 166.8 966 90.4 1622 1020 98.6 164.5 1044 105.6 163.0 1059 110.7 162.8 1100 119.8 163.8 1116 124.0 164.8 1127 127.2 165.2 1070 116.7 1655 1053 113.5 162.2 "1006 P 103.0 "1584 Utilities Electric Durable manufactures Ordnance pvt and govt Lumber and products Furniture and fixtures Clay glass and stone products Primary metals Iron and steel Nonferrous metals Fabricated metal products Nonelectrical machinery Electrical machinery Transportation equipment Motor vehicles and parts Instruments . .... . BUSINESS SALES Mfg. and trade sales (unadj.), total ± Mfg. and trade sales (seas, adj.), total i . ... mil. $.. 3,858,053 4,207,460 359,213 344,041 359,752 308,418 323,388 355,915 343,372 347,636 356,134 329,795 336,983 r345,243 339,815 do.... '3,858,053 '4,207,460 346,605 344,943 341,330 334,579 340,571 342,121 339,835 349,096 346,126 344,603 339,464 r339,470 332,130 Manufacturing, total t Durable goods industries Nondurable goods industries do.... 1 1,850,983 '1,994,600 163,957 161,442 159,614 155,023 158,143 157,518 156,114 160,828 161,519 161,382 158,619 159,278 152,759 do.... 930,482 1,001,001 81;265 80,279 79,133 75,551 77,976 78,124 77,136 79,518 78,888 79,036 77,248 rr76,562 72,420 do.... 920,501 993,597 82,692 81,163 80,481 79,472 80,167 79,394 78,978 81,310 82,631 82,346 81,371 82,716 80,339 Retail trade, total § Durable goods stores Nondurable goods stores do.... do.... do.... Merchant wholesalers, total @ Durable goods establishments Nondurable goods establishments do.... do.... do.... Mfg. and trade sales in constant (1972) dollars (seas adj ) total * bil $ Manufacturing * do.... Retail trade * do.... Merchant wholesalers * do.... See footnotes at end of tables. 1 1 95 1,902 '1,038,790 296,594 326,596 655,308 712,194 86,413 26,354 60,059 86,733 26,436 60,297 86,572 26,206 60,366 85,320 25,316 60,004 87,418 26,696 60,722 87,242 26,958 60,284 88,294 27,984 60,310 90,841 29,416 61,425 88,042 27,175 60,867 89,445 27,403 62,042 88,502 26,668 61,834 r 89,326 r 27,498 r 89,858 27,761 62,097 1,055, 168 '1,174,072 448,040 499,970 607,128 674,102 96,235 40,882 55,353 96,768 41,495 55,273 95,144 41,053 54,091 94,236 40,416 53,820 95,010 39,932 55,078 97,361 39,408 57,953 95,427 38,707 56,720 97,427 38,407 59,020 96,565 37,950 58,615 93,776 38,033 55,743 92,343 37,121 55,222 r 90,866 r 37,449 r 53,417 89,513 37,613 51,900 1534 70.8 44.9 37.8 1532 69.8 44.9 38.5 1524 69.4 45.0 38.0 1484 67.0 44.1 37.3 1522 68.8 45.1 38.3 1525 68.8 44.8 38.9 1509 67.7 45.0 38.2 1552 69.4 46.1 39.7 1530 69.4 44.5 39.0 1523 69.0 44.9 38.4 1504 67.9 44.6 37.9 1507 r 68.2 r 45.1 r 37.4 1468 65.3 44.9 36.6 61,828 !30.4 119.2 !58.8 122.3 !40.3 116.2 e 134.3 e l!9.7 !55.8 e !22.1 e 997 101.2 e !58.0 SURVEY OF CURRENT BUSINESS December 1982 Unless otherwise stated in footnotes below, data through 1978 and descriptive notes are as shown in the 1979 edition of BUSINESS STATISTICS 1980 1981 Annual S-3 1982 1981 Oct. Nov. Dec. Jan. Feb. Mar. Apr. May June July Aug. Sept. Oct. GENERAL BUSINESS INDICATORS—Continued BUSINESS INVENTORIES Mfg. and trade inventories, book value, end of year or month (unadj.), total i mil. $.. Mfg. and trade inventories, book value, end of year or month (seas, adj.), total i mil. $.. 477,287 513,530 482,570 520,615 527,253 513,530 513,516 513,844 517,710 512,689 513,132 512,799 511,302 509,661 r511,150 517,572 r Manufacturing total t Durable goods industries Nondurable goods industries do do.... do.... 264 015 174,674 89,341 Retail trade, total § Durable goods stores Nondurable goods stores do.... do.... do.... 114,114 53,747 60,367 519,394 518,241 521,574 519,394 516 256 513,906 513 054 515074 510 617 512981 513 387 514,554 283 152 284 386 285 783 283 152 281 154 281 688 280 065 278 986 276 449 275 115 274 914 274 302 188,429 189,461 190,222 188,429 187,054 187,121 186,063 185,916 184,870 184,289 183,798 183,550 94,723 94,925 95561 94 723 94 100 94,567 94002 93070 91 579 90826 91 116 90752 125,693 125,364 125618 125 693 124 131 123,395 123 332 123 175 122 367 124 351 125 939 127 151 58,835 59,014 58,907 58,835 57,807 56,957 56,803 56,663 55,984 57,346 58,246 60,075 66,858 66,350 66711 66858 66324 66438 66529 66512 66383 67005 66693 67076 Merchant wholesalers, total @ Durable goods establishments Nondurable goods establishments do.... do.... do 104,441 67,033 37408 110,549 108,491 110 173 110549 110971 108 823 109 657 112913 111 701 113515 113534 113 101 113 852 114 043 73,224 71,798 73,479 73,224 73,036 72,003 72,782 74,668 72,858 73,908 75,241 74,956 r75,799 76,007 37325 36 693 36 694 37 325 37 935 36 820 36 875 38 245 38 843 39 607 38 293 38 145 r38 053 38 036 Mfg. and trade inventories in constant(l972)dollars, end of year or month(seas. adj.), total* bil. $.. Manufacturing * do... Retail trade * . do Merchant wholesalers * do 270.5 1498 663 544 271.2 1498 662 55 1 269.9 1484 66 1 553 267.7 1469 65 4 554 266.5 1469 650 545 266.0 1464 65 1 545 266.5 1460 652 554 264.5 1453 64 7 545 265.2 1446 654 552 265.6 144 4 r 655 556 265.5 144 0 r 664 550 515 399 515,054 r 272 474 r 182,793 r 89 681 272 292 182,348 89944 129073 128 719 r 61,628 60,601 r 67 445 68 118 r 266.0 1433 672 555 265.7 1430 66 9 558 BUSINESS INVENTORY-SALES RATIOS ratio.. 1.45 1.44 1.50 1.51 1.52 1.54 1.50 1.50 1.52 1.46 1.48 1.49 1.52 1.52 1.55 do.... do.... do do.... do.... 1.66 2.18 070 0.95 0.53 1.66 2.19 069 0.97 0.53 1.73 2.33 073 1.03 0.58 1.77 2.37 074 105 0.58 1.77 2.38 074 1.05 0.60 1.81 2.48 077 1 09 0.62 1.78 2.40 0 74 1.05 0.60 1.78 2.38 073 1.05 0.61 1.79 2.41 074 1 06 0.61 1.72 2.32 071 1 02 0.60 1.70 2.34 071 1 03 0.60 1.70 2.33 071 1.01 0.60 1.73 2.38 071 1 04 0.62 1.71 r 2.39 r O 71 1.05 r 0.62 1.78 2.52 0 75 1 11 0.66 do... do do.... do 1.13 045 0.19 0.48 1.13 045 0.19 048 1.15 046 0.19 050 1 18 047 0.20 051 1 18 047 0.20 050 1 18 048 0.20 051 1 18 047 0.20 051 1 18 047 0.20 052 1 18 047 0.20 051 1 13 0 46 0.19 0 48 1 10 0 44 0.19 0 47 1 11 0 45 0.19 0 47 1 12 0 45 0.19 0 48 1 08 O 43 0.18 0 47 1 12 0 44 0.19 0 49 Retail trade, total § Durable goods stores Nondurable goods stores do.... do.... do 1.41 2.14 108 1.39 2.08 1 07 1.45 2.24 1 10 1.45 2.23 1 11 1.45 2.25 1 11 1.45 2.28 1 11 1.41 2.13 1 09 1.41 2.11 1 10 1.40 2.02 1 10 1.35 1.90 1 08 1.41 2.11 1 10 1.40 2.13 1 07 1.44 2.25 1 08 1.44 r 2.24 1 09 1.43 2.18 1 10 Merchant wholesalers, total @ Durable goods establishments Nondurable goods establishments do.... do.... do.... 1.13 1.70 0.70 1.09 1.67 0.66 1.13 1.76 0.66 1.14 1.77 0.66 1.16 1.78 0.69 1.18 1.81 0.70 1.15 1.80 0.67 1.13 1.85 0.64 1.18 1.93 0.67 1.15 1.90 0.66 1.18 1.95 0.68 1.21 1.98 0.69 1.22 2.02 0.69 1.25 2.02 0.71 1.27 2.02 0.73 1.76 2.12 1 48 1.44 1.77 2.15 1 48 1.43 1.77 2.14 1 47 1.46 1.80 2.19 148 1.49 1.75 2.14 1 44 1.42 1.74 2.13 1 45 1.40 1.77 2.16 1 45 1.45 1.70 2.09 1 40 1.37 1.73 2.08 1 47 1.42 1.74 2.09 1 46 1.45 1.77 2.12 1 49 1.45 1.77 2.10 1 49 1.49 1.81 2.19 1 49 1.53 165,584 158,181 Manufacturing and trade, total i Manufacturing, total t Durable goods industries Materials and supplies Work in process Finished goods .. Nondurable goods industries Materials and supplies Work in process Finished goods Manufacturing and trade in constant (1972) dollars, total * do.... Manufacturing * do.... Retail trade * do Merchant wholesalers * do.... r r r MANUFACTURERS' SALES, INVENTORIES, AND ORDERS Shipments (not seas, adj.), total t do.... 1,850,983 1,994,600 169,614 160,772 930 482 1 001 001 85058 79659 46,083 49,141 4,173 3,832 133 930 136 847 11 081 10 014 61 486 69 195 5560 5029 116 194 123 282 10450 9295 180 727 203 737 17 272 16856 128,587 137,873 11,988 11,725 186,282 203 000 17,219 16 194 104 560 114882 10286 8940 44,139 47530 4 125 3955 do.... 920,501 993,597 84,556 81,113 do 255 872 269 130 22983 22 111 do 11 893 13000 1 111 1 144 do 47397 52*274 4*476 4*145 do.... 72,650 79,489 6,728 6,476 do.... 161,559 175,131 13,831 13346 do 198 673 220 333 18459 17972 do 47342 46 504 4 134 3 515 do.... 163,957 161,442 Durable goods industries total Stone, clay, and glass products Primary metals * Blast furnaces steel mills Fabricated metal products Machinery except electrical Electrical machinery Transportation equipment Motor vehicles and parts Instruments and related products do do.... do do do do do.... do.... do do Nondurable goods industries, total Food and kindred products . . Tobacco products Textile mill products .. Paper and allied products Chemical and allied products Petroleum and coal products Rubber and plastics products Shipments (seas, adj.), total t By industry group: Durable goods industries, total # Stone, clay, and glass products.. Primary metals Blast furnaces, steel mills 155,117 76 863 3,404 9 000 4663 8812 17 692 11,125 15645 7353 4 054 78,255 21562 1 162 3837 144,431 160,220 165,832 158,058 161,541 169,159 147,553 155,187 68 605 78829 83776 79 101 80 485 84 307 70 361 73374 3,238 3,871 3,708 3,957 3,543 3,923 3,801 4,166 9 742 7 481 7 951 9 507 8 951 8 981 9 634 10 046 5051 4813 3291 3413 4837 4 440 3 974 4 120 8360 9528 10319 9 126 9978 10 244 10531 9746 14 455 16 964 18 032 15 602 15 810 16 815 13 619 13925 10,410 11,689 12,094 11,622 11,716 12,354 10*654 11,131 12640 15524 17362 16889 18004 18983 14767 14616 9905 10297 10 682 11 361 8412 8521 8483 6 979 4 171 3519 3873 3379 3832 4285 3758 3936 75,826 81,391 82,055 78,957 81,056 84,852 77,192 81,813 20 580 22814 23 140 21813 22721 23812 21 657 22335 1 083 1 069 1 061 1 153 1 140 1 388 1 024 1 279 4*625 3412 3*553 4*135 4209 4 547 4259 4*070 r 79 908 r 4,107 r 8 310 3554 r 9876 15 845 12,076 16 825 r 9799 r 4316 75914 4,109 7 803 3*084 9479 14 173 11*599 16209 9209 3966 r 85,676 r 82,267 24 298 23314 1 492 1*260 r 4 469 4308 6,416 6,915 6,447 6,727 6,080 6,525 6,782 6,538 6,721 r6,684 13360 14369 15 176 14542 14629 15360 12960 13977 14 840 13264 443 17298 16547 15533 16 194 17 287 17770 17 341 17 006 17 17 016 3 607 3469 3744 3 669 3 648 3 592 3 898 3 682 r 3778 3 375 159,614 155,023 158,142 157,517 156,114 160,828 161,519 161,382 158,619 159,278 152,759 6,139 13581 18067 3 319 r do.... do do.... do.... 81,265 3861 10945 5,542 80,279 3857 10408 5,243 79,133 3808 9626 4,892 75,551 3 884 10028 5,009 77,976 3795 9572 4,812 78,124 3821 8829 4,254 77,136 3728 8953 4,156 79,518 3863 8682 3,904 78,888 3834 8598 3,989 79,036 3764 8443 3,685 77,248 3730 8383 3,654 76,562 r 3800 r 8,250 3,597 72,420 3801 7694 3,071 Fabricated metal products Machinery, except electrical Electrical machinery . Transportation equipment Motor vehicles and parts Instruments and related products do.... do do do.... do do.... 9914 17074 11 451 16,004 8933 3,982 9492 17527 11 581 15695 8439 3876 9361 17 116 11 252 16 118 8262 4,035 9231 15939 11 210 13847 7357 3754 9557 16587 11 451 15 152 8241 3,933 9765 16570 11 508 15805 8829 3942 9750 15432 11 677 15945 9509 3825 10096 15899 11 912 17314 10 109 3988 9890 15488 11 639 17*573 10420 4007 9965 14879 12 108 17806 10918 3905 r 9,680 9,520 14847 15 402 11 434 11 452 17589 16 292 11018 rr9568 3,894 4043 9002 14013 11 124 15080 7911 3823 Nondurable goods industries total # Food and kindred products Tobacco products Textile mill products Paper and allied products Chemicals and allied products Petroleum and coal products. Rubber and plastics products do do do.... do do.... do.... do do.... 82692 22 187 1,065 4263 6,646 14,268 18731 3,896 81 163 21652 1 120 4095 6,682 14 196 18030 3*682 80481 79472 21 417 22069 1 134 1 138 4 095 3905 6,712 6,680 14260 13740 17800 17 Oil 3,646 3*680 80 167 22709 1 136 4 150 6,603 14071 16024 3,520 79394 22404 1 103 4254 6,599 13847 15698 3*414 78978 22302 1 157 5058 6,463 13751 16 494 3,500 81 310 23018 1 128 4 148 6,346 14 136 17382 3*569 82631 23315 1 351 4217 6,425 14595 17592 3,762 82346 23277 1021 4 074 6,478 14259 17690 3,807 81 371 r82 716 22275 r23*268 1,243 1 511 4 198 rr4 195 6,549 6,492 14,551 14,397 16976 17431 r 3,590 3,654 80339 22493 1 207 4 104 6,447 13646 17267 3,526 See footnotes at end of tables. .. Nov. SURVEY OF CURRENT BUSINESS S-4 Unless otherwise stated in footnotes below, data through 1978 and descriptive notes are as shown in the 1979 edition of BUSINESS STATISTICS 1980 1981 1982 1981 Oct. Annual December 1982 Nov. Dec. Jan. Feb. Mar. Apr. May June July Aug. Sept. Oct. GENERAL BUSINESS INDICATORS—Continued MANUFACTURERS' SALES, INVENTORIES, AND ORDERS t— Continued Shipments (seas, adj.) t—Continued By market category: t Home goods and apparel mil $ Consumer staples do Equipment and defense prod., exc. auto .... do.... Automotive equipment do Construction materials and supplies do.... Other materials and supplies do Supplementary series: Household durables do Capital goods industries do.... Nondefense do Defense do.... Inventories, end of year or month: t Book value (unadjusted) total do Durable goods industries, total do.... Nondurable goods industries total do Book value (seasonally adjusted), total t By industry group: Durable goods industries, total # Stone, clay, and glass products Primary metals Blast furnaces, steel mills Fabricated metal products Machinery, except electrical Electrical machinery Transportation equipment Motor .vehicles and parts Instruments and related products By stage of fabrication: t Materials and supplies Work in process Finished goods Nondurable goods industries, total # Food and kindred products Tobacco products Textile mill products Paper and allied products Chemicals and allied products Petroleum and coal products Rubber and plastics products By stage of fabrication: Materials and supplies Work in process Finished goods By market category: t Home goods and apparel Consumer staples Equip, and defense prod., exc. auto Automotive equipment Construction materials and supplies Other materials and supplies Supplementary series: Household durables Capital goods industries Nondefense Defense New orders, net (not seas, adj.), total t Durable goods industries, total Nondurable goods industries, total New orders net (seas adj ) total t By industry group: Durable goods industries total Primary metals Blast furnaces, steel mills Nonferrous and other primary met Fabricated metal products Machinery except electrical Electrical machinery Transportation equipment Aircraft, missiles, and parts Nondurable goods industries, total Industries with unfilled orders $ Industries without unfilled orders H By market category: t Home goods and apparel Consumer staples . Equip, and defense prod., excl. auto Automotive equipment Construction materials and supplies Other materials and supplies Supplementary series: Household durables Capital goods industries Nondefense Defense See footnotes at end of tables. 128 123 1 328,375 '276,299 1 123,602 144,922 1 849,662 '136418 '349,269 '306,929 '135,005 '152,663 '914,319 11211 28,902 25,476 10,542 12,056 75,770 11 042 28636 26,321 9933 11,728 73783 10513 28,479 26,684 9804 11,515 72619 10467 29,021 24,185 8,836 11,398 71,115 11 176 29,970 25,566 9,769 11,400 70,261 11208 29,753 25,623 10,332 11,738 68,862 10708 29,578 23,997 11,002 11,446 69,383 10,803 30,310 25,056 11,661 12,058 70,940 10,858 31,043 24,451 11,974 11,720 71,473 11 328 30,660 24,146 12,456 12,102 70,690 11 242 11,149 30,207 rr31,361 23,766 24,682 12494 10,983 11,899 11,787 69,011 r69,316 10896 30 113 23,773 9242 11,717 67018 '58 247 '312,672 '274 246 '38,426 '61 299 '344,647 '297 724 '46,927 5012 28,733 24676 4,057 4945 29532 25387 4 145 4782 29,600 25315 4,285 4723 27,067 23066 4,002 4876 28,417 24043 4,374 4982 28,549 24060 4,490 4,897 26,869 22,599 4,271 4,808 28,140 23,471 4,669 4,904 27,727 22,906 4,821 5,133 27,283 22,483 4,800 4799 26,423 21 776 4,647 r 5008 r 27,130 r 22 271 r 4 784 26,228 21259 4,969 4,859 r 261,528 172,115 89,413 280 131 281 625 282 992 280 131 281,926 283 594 282 050 282,017 279,391 276,281 274,487 273 292 269 830 269 565 185,584 186,978 187,855 185,584 187,031 188,756 188,026 188,253 187,287 185,442 183,859 183,110 180,765 179,886 94547 94648 95 137 94,547 94,895 94,838 94024 93,764 92,104 90,839 90,628 90 182 r89 065 89679 do.... 264,016 283,152 284,386 285,784 283,152 281,155 281,688 280,065 278,985 276,449 275,115 274,914 274,302 r272,474 272,292 do.... do.... do do do do.... do.... do.... do.... do.... 174,674 5,995 22878 12,063 19,623 40,714 26,042 35,890 9,894 9,154 182,348 188,429 189,461 190,222 188,429 187,054 187,121 186,063 185,916 184,870 184,289 183,798 183,550 182,793 r 6,629 6,382 6,741 6,582 6,544 6,479 6,429 6,318 6,324 6,792 6,781 6,792 6,396 6,332 26250 26236 26415 26250 25974 26070 26056 25403 25063 24617 24450 24 142 r23 970 23703 13,347 13,332 13,378 13347 13,120 13,128 13,441 13,075 12,867 12,566 12,485 12,154 11,985 11,824 18,708 20,208 20,449 20,561 20,208 20,339 20,142 19,848 19,716 19,664 19,593 19,223 19,200 19,050 44,376 43,899 44,255 44,376 44,237 44,414 44,134 44,449 44,447 44,008 43,895 43,572 rr43,010 43,042 28,142 28,482 28,655 28,142 27,784 27,697 27,526 27,365 27,024 26,950 26,834 26,891 r26,669 26,709 38,237 39,032 38,958 38,237 38,122 38,194 38,150 38,743 38,701 39,074 39,339 39,785 40,162 40,429 8,649 9,226 9,649 8,957 8,795 8,673 8,640 8,495 8,849 8,600 rr8,468 8,390 9,360 9,226 9,393 9,407 9,610 9,541 9,610 9,513 9,399 9,516 9,303 9,422 9,387 9,587 9,420 9,398 do do.... do 55310 76,851 42513 58461 82,814 47 153 59 117 83,588 46756 59216 84,058 46946 do.... do.... do.... do.... do.... do.... do do.... 89,341 21,590 3,638 6,695 7,788 19,514 9814 6,029 94,723 20,400 4,401 7,011 8,825 21,615 10544 6,298 94,925 20,990 4,181 7,041 8,654 21,714 10510 6,473 do.... do do 36,208 15,656 37478 38,015 16,196 40511 37,720 15912 41293 do do.... do.... do.... do.... do.... 20,817 32,196 70,150 12,328 20,872 107,653 55996 81,284 47590 55,643 81,304 47342 55781 80,216 47801 55 191 80,458 47901 94,002 20,405 4,572 6,587 8,921 21,428 10531 6,153 91,579 20,140 4,812 6,501 8,810 20,895 9060 6,115 90,826 19,830 4,697 6,367 8,757 20,973 9 101 6,046 91,116 20,178 4,893 6,428 8,734 20,798 9220 5,868 90,752 20,212 4,696 6,381 8,748 20,656 9329 5,791 37,317 15,629 41 057 37,486 15,601 39983 37,172 15,438 38969 36,714 15,555 38557 36,789 15519 38808 36,448 r35,800 15529 15,192 38 775 r38 689 56897 81,729 47435 94,100 20,481 4,495 6,761 8,675 21,420 10373 6,120 37,961 15959 40 179 37,899 15792 40877 58 184 82,211 46659 95,561 20,939 4,231 7,061 8,802 21,792 10 431 6,546 37,834 16 174 41555 38,015 16 196 40 511 r 54 703 r 80,379 r 56,947 81,562 47408 93,070 20,377 4,812 6,513 8,842 21,363 9675 6,165 57999 82,097 47026 94,567 20,486 4,514 6,710 8,850 21,418 10615 6,172 58461 82,814 47 153 94,723 20,400 4,401 7,011 8,825 21,615 10 544 6,298 47711 r 89,681 19,972 4,492 r 6,369 r 8,83l r 20,272 r 9274 r 5,678 54096 80,502 47750 89,944 19,968 4,417 6,279 8,926 20,315 9245 5,816 35,630 14899 39415 22,948 22,653 23 153 22948 22766 22,631 22,041 21,948 21779 21,598 21675 21 517 rr21,416 21 409 33,100 33,369 33,305 33,100 33,309 33,644 33,631 33,673 33,355 32,832 33,351 33,262 r32,632 32,705 76,445 76,189 76,718 76,445 76,265 76,744 76,716 77,708 77,506 77,622 77,423 77,618 77,464 77,640 11,873 12,321 12,081 11,873 11,567 11,366 11,220 11,191 11,102 11,226 11,332 11,054 10,807 10,836 22,172 22,354 22,406 22,172 21,729 21,338 21,078 20,723 20,639 20,533 20,415 20,490 r20,26l 20,040 116,613 117,501 118,121 116,613 115,518 115,964 115,379 113,741 112,068 111,304 110,718 110,361 109,894 109,662 11,256 11,280 11,343 11,256 11,196 11,120 10,896 10,856 10,692 10,744 10,782 10,656 10,678 10,580 10,345 do.... 86,515 86,623 87,126 86,515 86,302 86,974 86,795 87,752 87,644 87,393 87,378 87,885 rr87,579 87,833 do.... 79,141 73,360 74005 74 164 73360 72,968 73,376 72937 73,806 73,615 73,166 73,173 73,426 72,710 72627 do 68,605 10535 do 13 154 12618 12962 13 154 13334 13598 13857 13946 14029 14227 14205 14459 14 869 15206 157,626 do.... 1,868,857 1,992,179 167,182 157,465 153,451 147,978 159,497 166,453 156,759 155,250 162,730 143,375 149,397 161,757 do.... 948,723 999,268 82,956 76,894 75,381 71,856 78,548 84,383 77,867 74,504 78,199 66,393 67,545 r75,92l 75,472 do.... 920,134 992,912 84,226 80,571 78,070 76,122 80,949 82,069 78,892 80,746 84,531 76,982 81,852 r85,836 82,154 do HSeS 857 '1992179 159 558 159 460 156 660 154 519 155 984 157 198 154 995 156 791 157 058 158 588 154 380 156 166 150 120 '999,268 '133901 '68,410 '53,606 '122,031 '202 448 '141,845 '202,472 '66,145 '992,912 '205,870 '787,040 77 193 9786 4,743 4,014 '127,594 '136,200 '328 433 '349 430 '293,103 '308,350 '122,045 '134,898 '144,254 '152,053 '853,428 '911,251 do do do.... do.... do.... do do.... do do.... '948,723 '133936 '62,217 '60,016 '115,658 '180332 '135,199 '198,898 '70,394 do.... '920,134 do.... '186,011 do.... '734,123 do.... do do.... do.... do do.... do.... '57,820 do.... '334,268 do '281 384 do.... '52.884 '61,128 '347,082 '288 731 '58.350 76421 8981 4,462 3,804 9,272 16343 11,566 14617 5,282 80,239 17,111 63,128 75,061 9 163 4,469 3,866 8,777 15 120 11,842 15 182 5,841 79,458 16,946 62,512 76309 8241 3,741 3,767 9,052 14506 11,391 17305 7,475 79,676 16,866 62,810 77859 7596 3,432 3,440 9,819 14 438 12,782 17 138 7,206 79,339 17,607 61,732 76,194 8 137 3,583 3,828 8,989 15262 12,508 16,595 5,779 78,803 16,653 62,151 75710 8453 3,928 3,741 9,440 16422 10,594 15050 4,500 82,365 17,025 65,340 78592 9686 4,836 4,033 9,124 17073 12,036 15067 5,341 80,868 17,067 63,801 10,894 28909 24,455 10,503 11 765 73,032 10,835 28669 26,421 9,497 11 761 72,277 10,472 28451 24,381 9,869 11 228 72,258 10,296 28978 26,587 8,771 10856 69,031 11,120 29996 26,161 9,438 11 108 68,162 11,570 29822 25,349 10,285 12006 68,167 4,700 26,636 22528 4.109 4,739 29372 24369 5.003 4,747 27,774 22 130 5.644 4,578 28,291 21 717 6.573 4,869 28,772 21 560 7.213 5,353 29,239 22 174 7.065 81,081 16,756 64,325 74550 8617 3,789 3,939 9,389 13015 11,705 16,347 4,560 82,508 16,867 65,641 76446 8660 3,999 3,797 9,368 12876 12,396 17,515 4,989 82,142 16,742 65,400 72982 8 178 3,749 3,765 8,897 13091 11,572 16084 5,175 81,398 17,181 64,217 10,067 29477 25,890 10,625 11003 67,937 11,040 30340 22,074 11,398 11 592 70,347 10,964 31070 23,179 11,887 11384 68,574 11,181 30590 22,390 12,647 12008 69,772 4,254 28,782 22608 6.174 5,022 25,107 20332 4.775 5,004 24,715 19278 5.437 4,990 25,006 20322 4.684 9,405 14 408 11,888 16,011 4,854 r 73 266 r 7983 r 3,351 r 4,010 r 8,668 13 978 12,025 14,828 r 4,181 69857 6979 2,808 3,554 8,446 13771 10,970 14362 5,197 r 82,900 17,314 r 65,586 80,263 16,812 63,451 11,099 30 181 21,542 11,928 11 429 68,201 10,978 r 31 389 •"22,310 11,267 11 691 r 68,53l 10799 30 137 22,292 9,312 11 408 66,172 4,670 24207 18893 5.314 r 4,850 r 24,608 r 20 273 r 4,726 24891 20 177 4.714 4.335 Nov. SURVEY OF CURRENT BUSINESS December 1982 Unless otherwise stated in footnotes below, data through 1978 and descriptive notes are as shown in the 1979 edition of BUSINESS STATISTICS 1980 1981 S-5 1982 1981 Annual Nov. Oct. Dec. Jan. Mar. Feb. Apr. May June July Aug. Sept. Nov. Oct. GENERAL BUSINESS INDICATORS—Continued MANUFACTURERS' SALES, INVENTORIES, AND ORDERS t—Continued Unfilled orders, end of year or month (unadjusted), total t mil. $ . Durable goods industries, total do.... Nondur goods ind with unfilled orders $ .. do . Unfilled orders, end of year or month (seasonally adjusted) total t mil. $.. By industry group: Durable goods industries, total # do.... Primary metals . . do Blast furnaces, steel mills do.... Nonferrous and other primary met do.... 318,797 308,131 10,666 316 375 321 348 318041 316 375 319 921 319 197 319817 318,518 312 234 305 804 301 624 295 827 r292 004 291 450 306,395 310,642 307,877 306,395 309 646 309,365 309,971 308,736 302,762 296,652 292,684 286,850 r282 866 282,423 8940 9979 10275 9847 9472 9 152 8977 r9 138 9979 10706 10 163 9832 9782 9027 320,977 318621 323,556 321,574 318,621 318 114 315,957 315,639 314,521 310,482 306,032 303,235 299,001 r295,883 293,248 310,051 29658 16,966 8,899 308,370 312,769 311,082 308,370 307,877 306,211 305,947 305,004 301,194 296,866 294,272 290,011 r286,706 284,146 26623 27989 27268 26623 25759 24427 23 195 22378 22 147 22 168 22385 22 181 r21 913 21 198 16 113 16,951 16543 16,113 15573 14,502 13,679 13,106 13,129 12,930 13,244 13,369 13,093 12,830 r 6,697 6,499 7,302 6,419 6,586 6,391 6,493 7,433 7,302 6,921 6,572 6,135 7,638 7,030 r 29240 29696 29328 29240 28785 28281 28334 27574 26883 26,384 25788 25004 r24 150 23595 72,627 73,854 73400 72,627" 71807 69,727 67,595 67,425 65,934 63,462 61,458 59,703 58,276 58,034 51939 51 171 51625 51939 52570 52510 53784 54613 54588 54655 54942 55082 r55 654 55500 113,709 115,838 115211 113,709 115043 117 196 118,529 119,178 117,876 116,652 116,359 114,855 r!13,390 112,674 87207 88203 88029 87207 88 123 90514 92483 93349 92613 91 494 91 178 91 151 r90 025 89396 do do.... . do . do.... .. do . 30497 73,884 47917 114,304 86,831 Nondur. goods ind. with unfilled orders $ .. do.... 10,926 Fabricated metal products Machinery, except electrical Electrical machinery Transportation equipment Aircraft missiles and parts By market category: t Home goods, apparel, consumer staples Equip, and defense prod., incl. auto Construction materials and supplies Other materials and supplies Supplementary series: Household durables Capital goods industries.. Nondefense Defense 10,251 10,787 10,492 10,251 10,237 9,746 9,692 9,518 9,288 9,166 8,963 8,990 r 9,177 9,102 do.... do.... do do.... 3,559 186,434 17588 112,788 3,497 4,429 3,951 4,087 3,866 3,457 3,457 3,700 •"3,556 3,484 3,704 4,029 3,998 3,684 187,724 190,296 189,959 187,724 190,058 190,323 190,002 191,517 188,274 186,916 185,350 182,561 180,468 179,058 509 14200 16982 17235 17269 16982 16 440 16 148 16 416 15972 15506 15 170 15076 14606 14 109,671 111,538 110,033 109,671 107,588 105,488 104,793 103,346 102,751 99,859 98,943 98,134 r97,350 96,506 do do . do.... do.... 3 123 218,190 155,646 62,544 3288 2815 2472 3069 3 104 2924 2916 2643 2858 2961 2689 r r 2528 3311 3069 220 621 222 605 222 445 220 621 221 841 222 197 222 888 224,799 221 766 218 756 216 480 214,264 211,737 210,400 126,100 146,701 150,904 149,886 146,701 145,351 142,868 140,982 140,991 137,852 134,226 132,067 129,183 127,180 r 73,919 71,701 72,560 73,919 76,490 79,329 81,905 83,808 83,914 84,530 84,413 85,081 84,557 84,300 New incorporations (50 States and Dist. Col.): Unadjusted ... number . Seasonally adjusted do.... 533,520 580 867 BUSINESS INCORPORATIONS @ 49002 47,947 43533 49,413 1604 228 361 199 657 159 1368 207 290 180 553 138 897 938 387 938 121 095 182 893 119,337 86675 618 765 100 240 69854 222 773 142,320 83578 69.4 65.7 48650 47,556 42680 43,330 42511 47,234 52574 46,899 48845 46,876 46008 46,995 48876 45,936 r 45282 44,525 45572 46,981 INDUSTRIAL AND COMMERCIAL FAILURES @ Failures total Commercial service Construction Manufacturing and mining Retail trade Wholesale trade number do.... do do.... do do.... Liabilities (current), total Commercial service .. .. Construction Manufacturing and mining Retail trade Wholesale trade .... .. thous. $.. 4,635,080 do 413 502 do.... 752,109 do 1 885 017 do.... 993,539 do 590 913 Failure annual rate (seasonally adjusted) No. oer 10.000 concerns.. 11 742 1,594 2355 1,599 4910 1,284 M2.1 COMMODITY PRICES PRICES RECEIVED AND PAID BY FARMERS H r 589 1910-14=100.. 614 633 594 593 583 601 608 608 616 633 628 622 609 620 do.... do . do. . do.... do . do.... do 539 562 583 417 452 458 1219 580 676 565 446 456 477 1363 517 608 526 382 436 482 1426 524 621 507 373 442 554 1 435 527 733 432 381 434 540 1452 545 892 421 400 432 519 1478 534 789 409 391 425 547 1 478 521 656 423 392 419 533 1478 530 632 452 404 417 537 1 469 541 602 458 418 413 581 1 469 541 636 464 404 388 614 1 474 537 603 486 385 374 709 1 400 513 539 440 363 376 695 1 526 540 509 464 345 382 1093 1 565 do do.... do do 691 798 878 254 688 842 848 264 675 856 822 255 665 856 794 268 641 856 756 253 659 850 791 259 685 844 841 264 699 832 870 268 706 820 898 255 727 807 950 247 718 .801 936 245 711 807 912 254 710 807 922 236 705 826 894 253 r Prices paid: Production items do.... All commodities and services, interest, taxes, and wage rates (parity index) 1910-14=100.. 799 854 850 849 840 856 858 866 866 871 876 876 874 869 r 863 864 1,031 1,037 1,037 1,031 1,067 1,066 1,071 1,073 1,077 1,071 1,073 57 57 57 57 57 58 59 59 58 1,078 56 1,075 61 1,058 57 1,060 do . 950 65 58 55 55 ALL ITEMS, WAGE EARNERS AND CLERICAL WORKERS, REVISED (CPI-W) 1967=100.. 247.0 272.3 279.7 280.4 281.1 282.1 282.9 282.5 283.7 286.5 290.1 291.8 292.4 292.8 293.6 293.2 2468 2724 2799 2807 2815 2825 2834 283 1 2843 287 1 2906 2922 2928 2933 2941 293.6 2355 2440 245.5 2585 2706 270.9 2645 2790 278.3 2654 280 1 279.0 2660 2808 279.6 2674 2814 280.6 2683 282 1 281.5 2685 281 7 280.9 2687 2829 282.1 2706 2860 284.9 2738 2897 288.4 2753 291.5 289.9 2757 2925 290.5 2769 292.9 290.8 2779 2940 291.5 278 1 293.6 290.8 Prices received, all farm products Crops # Commercial vegetables Cotton Feed grains and hay Food grains Fruit Tobacco .. . Livestock and products # .. Dairy products Meat animals . . Poultry and eggs Parity ratio § . . . 586 r 493 r 529 r 505 r 328 r 387 r 726 1 535 685 844 850 249 r 509 595 515 354 392 678 1 548 671 850 825 244 CONSUMER PRICES (U.S. Department of Labor Indexes) Not Seasonally Adjusted ALL ITEMS, ALL URBAN CONSUMERS (CPI-U) .1967-100 Special group indexes: All items less shelter . do All items less food do . All items less medical care do.... See footnotes at end of tables. SURVEY OF CURRENT BUSINESS S-6 Unless otherwise stated in footnotes below, data through 1978 and descriptive notes are as shown in the 1979 edition of BUSINESS STATISTICS 1980 1981 Annual December 1982 1982 1981 Oct. Nov. Dec. Jan. Feb. Mar. Apr. May June July Aug. Sept. Oct. Nov. COMMODITY PRICES—Continued CONSUMER PRICES— Continued (U.S. Department of Labor Indexes) — Continued Not Seasonally Adjusted All items (CPI-U)— Continued Commodities 1967 — 100 Nondurables do.... Nondurables less food do.... Durables. do.... Commodities less food do.... Services . . .. do.... Services less rent do.... Food # do.... Food at home .. do Housing do Shelter # do Rent residential do Homeownership do Fuel and utilities # . do Fuel oil, coal, and bottled gas do.... Gas (piped) and electricity do Household furnishings and operation do.... 2339 245.0 235.2 210.4 222.0 270.3 285.1 257.9 269.5 260.7 232.9 245.9 318.6 338.7 309.4 3314 220.1 3706 339.2 641.3 377.8 232.6 191.9 282.9 278.8 196.0 285.1 339.3 321.7 2615 270.7 256.2 239.8 247.8 331.8 352.8 285.5 279.8 313.8 3367 221.8 3774 345.4 644.6 389.0 233.4 191.5 285.6 281.5 197.5 291.4 342.1 323.8 190.8 292.8 288.9 1981 298.2 345.6 326.4 319.2 3428 2248 3845 3547 659.9 402 1 234.1 189.7 296 1 292.3 1986 302.4 347.2 3300 0.2 2584 244.6 2830 277 1 1.0 2607 246.9 2854 2799 1.0 2640 250.6 2872 282.0 06 2655 252.7 2870 2810 191.1 2826 2785 1960 3287 191.0 191.2 289.9 2865 1945 3256 -03 259 1 245.9 2822 2764 190.9 287 1 2834 1946 3257 2838 2797 1965 331 8 289.7 2857 1979 192.1 293 1 2892 1988 3364 293.9 2900 199.7 298.6 298.0 298.0 298.6 299.3 321.6 311.1 2779 2786 2750 320.0 310.6 2773 2777 2758 322.6 309.9 2773 277.3 2772 328.3 309.8 2778 277.7 278 1 325.6 309.9 2799 280 1 2792 277.6 3147 2919 278.0 3068 277.4 3154 2920 277.8 3072 248.4 247.1 248 1 3116 293.6 697.8 204.6 261.6 285.2 275.4 3042 319.0 286.3 239.3 2056 245.2 246.8 278.1 3136 291.1 278.7 304 1 251.6 250.6 251 1 3099 294.3 670.6 206.0 263.4 286.5 277.6 303 1 3202 288.5 241 1 2054 245.8 247.2 278.5 3145 291.3 279.2 3040 246.0 242.2 247 1 3118 292.9 705.1 203.5 261.8 285.5 274.1 3047 3156 285.5 2373 2050 248.6 250.8 277.4 3142 2914 277.8 3059 247.5 244.7 248 1 3110 294.6 689.7 205.5 260.6 285.3 276.2 3029 3199 287.4 2408 2050 245.2 246.8 0.5 -0.2 -0 1 2584 269.8 261.1 233.7 246.5 3218 342.0 2588 270.8 260.2 233.4 245.9 323.9 344.2 277.6 272.1 303.5 3266 213.6 3667 330.1 672.7 360.6 225.6 2580 269.5 261.1 233.2 246.2 3206 340.8 277.1 2710 277.8 271 7 304.2 3272 215.0 3672 329.8 676.1 3583 227.2 305.» 3280 216.5 3678 331.8 682.5 3599 227.7 191.5 287.2 283.9 192.5 278.2 330.8 304.8 191.3 289 1 285.8 1953 281.4 333.2 3082 190.5 289.8 286.5 1970 281.9 333.8 3102 281.0 275.3 306.1 3283 217.8 3675 336.2 686.0 367.4 228.4 187.3 289.9 286.6 1974 280.5 334.9 3134 All items percent change from previous month Commodities 1967 — 100 Commodities less food do.... Food . do Food at home do.... 0.4 2583 245.9 2790 273.5 04 2596 247.5 2795 273 1 03 2599 247.2 2815 2759 Apparel and upkeep do.... Transportation Private New cars .. Services .. PRODUCER PRICES § (U.S. Department of Labor Indexes) do.... do do do 189.5 288.2 285 1 194.0 05 2588 246.5 2793 2733 189.3 318.4 290.8 2878 1946 321.4 189.4 2925 2896 196 1 3229 189.3 2919 2887 1960 3244 293.4 296.1 295.5 295.8 298.3 304.6 280.3 2470 248.9 2398 329.0 306.0 2698 2713 2643 319.9 309.4 2743 275 1 2715 313.9 309.0 274 7 2752 2730 311.5 309.4 2754 2758 274 1 318.4 311.0 2779 2783 2762 251.5 2824 261.5 250.8 2730 244.7 249.4 241 2 2748 260.3 574.0 187.7 248.9 288.9 239.8 2864 283.0 249.2 217.4 1835 207.0 208.8 269.8 3124 2860 269.6 3036 251.5 254.9 2487 304 1 287.8 694.4 198.4 261.5 292.8 263.1 3004 3095 273.7 2328 1996 235.4 237.5 275.0 3128 2898 275.1 3055 246.0 243.1 2466 3090 292.4 698.1 201.3 260.0 284.3 269.3 3053 313.3 279.2 237.3 2040 244.5 247.8 2754 311 4 2897 275.8 3045 242.5 237.4 2443 3093 292.0 698.1 202.1 259.8 282.1 270.4 3042 3137 280.4 2380 2036 246.3 248.9 276.0 3114 289.9 276.5 3043 241.0 234.6 2436 3100 291.8 702.5 202.9 260.7 285.4 272.0 3033 3135 281.0 2383 2034 246.8 249.5 0.6 05 0.3 Apparel and upkeep Transportation Private . New cars Used cars Public Medical care . Seasonally Adjusted do do do.... do do.... do.... do.... Not Seasonally Adjusted All commodities 1967= 100.. By stage of processing: t Crude materials for further processing do.... Intermediate materials, supplies, etc do.... Finished goods $ do Finished consumer goods do.... Capital equipment do By durability of product: Durable goods do.... Nondurable goods do Total manufactures . do . Durable manufactures do.... Nondurable manufactures do Farm prod., processed foods and feeds do.... Farm products do.... Foods and feeds processed ... do Industrial commodities do Chemicals and allied products do.... Fuels and related prod., and power do.... Furniture and household durables do.... Hides, skins, and leather products do.... Lumber and wood products do.... Machinery and equipment do.... Metals and metal products do Nonmetallic mineral products do . Pulp, paper, and allied products do.... Rubber and plastics products do. .. Textile products and apparel do Transportation equipment # ....Dec. 1968=100.. Motor vehicles and equip 1967=100.. 254.6 251.5 263.3 2817 191.6 3140 2786 556.0 3018 205.4 178.4 249.7 249.2 1793 208.1 251.6 265.9 268.8 2536 266.3 257.5 227.1 241.2 305.7 324.3 274.6 2699 2935 3147 2082 3527 3192 675.9 3459 221.3 186.9 2800 277.5 1902 256.9 312.0 2945 259.5 271.7 260.1 233.7 246.0 325.3 345.7 283.3 278.0 307.3 3295 218.6 3687 337.1 683.1 368.7 230.2 188.0 288.0 284.5 1955 279.7 336.8 316.2 02 2604 247.2 2832 278.1 190.1 2588 270.7 258.4 233.5 245.2 3255 345.7 258.9 269.3 255.0 235.8 245.0 328.4 349.1 283.0 277 1 306.7 3276 219.6 3657 339.3 664.0 375.9 231.6 191.1 285.1 281.3 1944 280.9 336.7 3188 283.9 277.9 265.1 274.4 261.2 243.2 251.9 334.9 356.5 287.8 282.6 317.5 3409 222.6 3828 3522 656.6 3989 233.7 2665 275.7 263.0 244.7 253.5 337.0 358.5 266.4 275.5 263.6 244.6 253.8 338.9 360.5 287.4 280.8 320.1 3442 226.0 3859 356.3 659.9 4044 233.4 2666 276.2 264.6 244.1 253.9 339.7 361.3 2675 276.5 265.7 246.0 255.4 340.3 361.6 2678 276.4 266.1 246.6 256.0 338.6 359.3 287.6 280.6 319.7 3426 226.9 3830 3595 662.8 4092 234.2 286.4 278.3 319.0 3407 230.2 3795 3622 691.3 4076 235.1 191.8 2962 292.4 1987 304.4 348.1 3333 194.9 2953 291.1 197 7 3046 353.3 3360 287.0 279.4 320.7 3428 228.9 3828 3634 677.2 4134 235.4 195.5 2955 291.1 1977 306.7 356.3 3387 0.3 2656 253.1 2862 279.2 192.8 05 2679 255.6 2882 2807 01 2686 256.4 2884 2805 338.5 02 2662 253.5 2876 2805 193.2 2948 2906 200 1 338.9 193.6 2965 2922 1993 3397 193.3 2974 2932 1984 3392 r 300.4 300.4 299.5 299.9 300.4 323.4 311.1 281 7 1 280 2 320.5 311.0 2824 2827 2814 316.3 310.7 281 4 2820 2795 312.2 310.0 284 1 2842 2838 313.4 310.1 2849 2852 2840 278.3 3160 292.4 279.3 306.3 r 2789 r 3176 r 2937 r 279.9 r 255.8 256.5 2544 3096 295.0 662.2 206.5 263.2 284.6 278.2 3028 3212 289.6 242.1 2054 247.5 249.2 255.3 252.7 2558 3106 293.3 677.3 207.0 261.8 289.0 278.6 2993 3209 289.5 242.5 2050 249.1 251.1 r 252.4 r 246.6 r 279.1 3173 2939 280.1 3086 250.1 242.0 2536 3134 291.6 705.7 207.4 263.2 284.4 279.7 3002 3204 289.1 243.6 2039 251.2 253.3 2787 3159 293 1 279.7 3073 247.5 234.4 2536 3129 291.4 701.8 207.7 264.8 283.0 280.3 3018 3202 289.2 243.3 2038 245.0 245.0 281.4 3143 2939 282.4 3059 243.9 229.1 2510 314 4 290.4 699.6 208.4 264.7 279.6 280.9 302 1 3212 289.2 2430 2026 256.4 258.1 281 2 3155 2940 282.4 3063 244.0 230.6 2504 315 1 290.5 707.3 2083 264.3 2799 281.3 301 0 321 5 289.6 2426 2035 256.1 257.5 0.1 -0.1 1.0 05 0.6 -0 1 05 06 3147 310.1 2769 2773 256.8 2836 2243 3278 2757 320 1 308.3 277 1 2773 261.1 2817 2237 3250 2765 3274 308.8 2769 2768 262.7 2804 224.6 3220 2775 3270 309.6 2797 2798 263.9 284 1 2266 327 1 2795 r 310.7 r r 2814 r 259.8 r 2882 r 2272 r 3340 r 3237 2805 3219 310.7 2830 2830 260.3 2903 229 1 3360 283 1 3170 310.8 2826 2827 2589 2906 227 1 338 1 282 1 3147 310.3 2839 2842 2585 2930 2290 3407 2827 3174 311.7 2857 2864 258.1 296 1 2306 3452 2835 0.361 0353 0.361 0352 0.360 0348 0.357 0344 0.355 0342 0.354 0342 0355 0341 0352 0 340 0351 0 341 288.5 2828 3345 r r 282 r 3085 2546 3128 291.6 r 701.1 2068 r 263.1 r 2886 r 279.6 r 2995 r r 321 1 r 289.1 r 2420 204 1 r 249.8 r 252.0 195.4 2958 291.4 1990 310.5 356.0 3422 Seasonally Adjusted t Finished goods, percent change from previous month By stage of processing: t Crude materials for further processing 1967 — 100 Intermediate materials, supplies, etc do.... Finished goods # do Finished consumer goods do . Food do.... Finished goods exc foods do Durable ... do . Nondurable do Capital equipment do PURCHASING POWER OF THE DOLLAR As measured by: Producer prices 1967— $1.00.. Consumer prices do See footnotes at end of tables. 0.405 0406 0.371 0367 3227 309.7 2742 275.2 255.0 2814 2225 3253 2705 318 1 310.6 2755 2763 253.2 2838 2245 3280 2725 3136 311.1 2763 2769 2530 2846 2247 3293 274 1 3193 312.0 2778 2785 255.9 2856 2244 3313 2754 3173 311.1 2773 2782 257.1 2847 223 1 3306 2743 0.365 0357 0.364 0356 0.363 0355 0.360 0354 0.360 0353 r 281 2 SURVEY OF CURRENT BUSINESS December 1982 Unless otherwise stated in footnotes below, data through 1978 and descriptive notes are as shown in the 1979 edition of BUSINESS STATISTICS 1980 1981 1981 Oct. Annual S-7 Nov. 1982 Dec. Jan. Feb. Mar. Apr. May June July Aug. Sept. Oct. r r Nov. CONSTRUCTION AND REAL ESTATE CONSTRUCTION PUT IN PLACE New construction (unadjusted), total mil. $.. 230,749 238,201 21,308 19,963 18,865 15,142 14,726 16,705 17,943 19,323 20,932 20,611 21,766 21,542 do do.... do.... 175 699 87,261 63,139 185 222 86,566 62,664 16417 7,182 5,077 15487 6,736 4630 14 941 5,966 3,951 12 170 4,963 3450 11 794 4,417 3 166 13349 5,175 3789 14 173 5,915 3,856 15205 6,609 4 175 16281 6,899 4406 15901 16 085 16 442 6,940 rr7,061 rr7,114 4676 4,846 4999 16 577 7,124 5015 Nonresidential buildings, except farm and public utilities, total # mil. $.. Industrial do Commercial do.... Public utilities: Telephone and telegraph do 52,434 13837 29,945 60,818 17030 34,248 5,739 1680 3,180 Private total # Residential New housing units 5,545 1 588 3,117 5,230 1 456 3,008 4,542 1 226 2,619 4,575 1 239 2,623 5,018 1338 2,898 5,195 1 296 3,078 5,383 1417 3,119 5,776 1 543 3,320 2 1,250 5,610 1 433 3,302 5,615 1 458 3,235 r 5,780 1 566 r 3,289 5,920 1 658 3,285 6733 7074 701 631 652 466 531 639 584 588 654 626 652 do 55050 52979 4891 4476 3924 2971 2932 3356 3770 4 118 4710 5 165 r 5324 4965 Buildings (excluding military) # Housing and redevelopment Industrial do do.... do.... 17792 1,722 1,655 1 227 113 121 1377 128 131 1 449 138 139 1515 148 143 1583 143 165 1508 149 154 159 434 114 444 1 290 129 138 179 585 1377 137 150 165 1 110 1 459 147 158 161 756 1 186 111 93 do do.... 1 510 127 110 150 1,389 1 511 135 109 Military facilities Highways and streets 18517 1,648 1,441 1 880 13,807 4 651 1 468 132 146 137 721 186 1014 168 1467 168 1 563 173 188 1 673 1672 169 1630 2308 2300 2288 225 1 2226 2246 226 1 2287 231 6 2288 r 230 4 r 232 4 234 9 1800 178 1 1766 1730 1736 175 1 1799 1826 1803 1796 182 0 1829 782 534 762 504 758 49 4 1755 73 7 51 0 692 492 700 51 0 72 3 496 755 510 753 498 762 51 5 r 769 r r 773 r 111 530 529 629 18.5 346 634 18.4 357 622 166 364 628 17 1 362 64 1 172 368 649 16.6 384 642 159 384 64 4 17 1 368 67 1 184 380 640 16.4 375 633 16.7 36 1 r 654 177 r 37 1 652 183 360 Public total # . 1 964 13304 New construction (seasonally adjusted at annual rates) total bil $ Private total # do Residential do New housing units .. do.... Nonresidential buildings, except farm and public utilities total # . bil. $ . Industrial do.... Commercial . . . . .. do Public utilities: Telephone and telegraph . .. do . Public total # . . . 73 75 75 73 84 74 71 73 70 74 72 508 519 522 496 496 51 0 51 0 488 489 484 508 r 503 520 do.... do.... do 17.2 15 15 17.7 16 15 17.6 16 18 16.8 17 1i 17.7 15 18 16.9 16 16 17.5 16 18 16.5 15 15 16.8 16 16 16.0 16 17 16.7 17 18 16.6 15 16 17.6 18 21 do .. do . 19 119 19 128 20 127 21 115 15 124 23 133 17 12 1 21 117 19 13 1 19 14 1 20 133 21 135 21 142 12528 98 13896 112 14 180 117 12549 105 3745 8783 3 411 10485 3 849 10330 3 272 9276 5,027 5,629 1 893 . . .do Buildings (excluding military) # Housing and redevelopment Industrial . . Military facilities Highways and streets 523 652 73 CONSTRUCTION CONTRACTS Construction contracts in 50 States (F.W. Dodge Division, McGraw-Hill): Valuation, total mil $ Index (mo. data seas, adj.) 1977—100. Public ownership Private ownership By type of building: Nonresidential Residential Non-building construction New construction planning (Engineering News-Record) § 148 393 '106 150 189 '107 12642 101 9722 92 11577 112 10 580 118 8881 115 13036 105 11713 88 11 821 94 41 717 106*676 39 070 111 120 3 439 9203 2406 7316 2862 8715 2673 7907 2998 5 883 4280 8756 3 394 8319 3 773 8 048 15444 111 4 360 11 084 do.... do.... do 52,492 63,668 32234 58,250 60,063 31877 5,811 4,718 2 113 4,380 3,737 1 605 4,445 3,739 3 393 3,458 3,008 4 113 3,606 3,143 2 132 5,273 4,600 3 164 4,400 4,656 2 658 4,233 4,984 2 604 6,113 5,602 3 729 5,011 5,144 2372 5,250 5,414 3 232 5,226 5,525 3 429 do.... 149,143 166,366 16,597 15,492 17,516 13,920 12,102 10,844 14,043 9,119 8,278 11,992 10,385 11,936 13,373 15,530 thous do.. . do.... 13126 1 292.2 852.2 1 1003 1 084.2 705.4 882 872 49.9 649 646 40.1 597 59 1 34.1 476 472 293 520 51 3 32.5 787 78.2 51.8 85 1 84 1 55.8 992 988 58.9 91 9 91 1 63.5 1072 1068 61.4 972 960 62.0 1084 1064 r 63.3 111 7 1107 r 66.5 1109 65.0 854 507 860 554 882 550 885 592 945 568 931 621 882 566 1066 631 908 621 1 193 628 mil $ do HOUSING STARTS AND PERMITS New housing units started: Unadjusted: Total (private and public) Privately owned One-family structures Seasonally adjusted at annual rates: Total privately owned One-family structures do . do New private housing units authorized by building permits (16,000 permit-issuing places): Monthly data are seas. adj. at annual rates: Total thous.. One-family structures do . 1 033 1r 129 1r 129 677 705 645 1428 872 1 243 746 1,191 710 986 564 738 400 743 413 797 454 803 450 792 436 851 460 879 450 944 488 929 516 1062 500 888 497 1003 561 1 172 r 651 thous do.... 221 6 2407 202 208 157 207 142 206 139 211 172 251 22 1 252 223 255 218 246 236 257 194 246 222 234 212 222 204 218 1977—100.. 143.2 152.5 154.9 154.7 156.1 156.5 156.0 156.3 156.7 155.1 154.6 155.4 154.8 155.2 155.8 1913—100.. do do.... .. do . do 2495 2660 2553 2671 2343 2643 2841 2645 2873 2453 2678 2892 2655 2896 2491 2678 2878 2646 2918 2 523 2700 2893 2659 2934 2535 Boeckh indexes: Average, 20 cities: Apartments, hotels, office buildings 1977 = 100.. Commercial and factory buildings do.... Residences do 125.1 127.7 1289 137.4 140.1 1360 Engineering News-Record: Building Construction 1967= 100.. do 287.7 301 4 310.3 3289 Federal Highway Adm. — Highway construction: Composite (avg. for year or qtr.) 1977=100.. 163.0 156.7 Manufacturers' shipments of mobile homes Unadjusted . Seasonally adjusted at annual rates CONSTRUCTION COST INDEXES Dept. of Commerce composite American Appraisal Co., The: Average, 30 cities Atlanta New York San Francisco St Louis • See footnotes at end of tables. 143.2 145.9 141 6 319.1 3419 322.8 3442 144.1 146.3 142 1 323.3 3449 156.8 324.7 3468 149.0 151.1 146 1 146.0 148.5 143 1 325.7 3478 324.8 3472 145.3 325.0 3473 328.6 3530 152.6 154.3 1499 328.5 3529 146.8 330.6 3579 153.6 155.2 151 2 333.5 3600 332.9 3610 147.8 332.8 3609 2 334.5 2 3623 SURVEY OF CURRENT BUSINESS S-8 Unless otherwise stated in footnotes below, data through 1978 and descriptive notes are as shown in the 1979 edition of BUSINESS STATISTICS 1980 1981 1982 1981 Oct. Annual December 1982 Nov. Dec. Jan. Feb. Mar. Apr. May June July Aug. Oct. Sept. Nov. CONSTRUCTION AND REAL ESTATE—Continued REAL ESTATE H Mortgage applications for new home construction: FHA net applications thous. units.. Seasonally adjusted annual rates do.... 141.4 92.3 4.5 50 4.6 61 8.2 126 7.5 136 8.6 126 9.8 104 6.3 67 5.2 51 6.7 76 8.2 90 6.8 76 9.8 106 11.8 139 2022 153.8 90 100 87 123 91 141 9.3 142 9.1 119 11.1 118 13.6 143 13.0 151 14.1 154 12.3 139 11.9 127 12.9 150 15.7 181 Home mortgages insured or guaranteed by: Fed. Hous. Adm.: Face amount mil. $.. 16,458.53 10,278.14 Vet Adm/ Face amount § do.... 13,855.54 7,905.93 654.28 485.73 727.94 464.19 593.31 357.69 443.87 327.39 606.52 393.60 585.12 421.78 547.57 374.45 589.61 327.85 716.28 443.89 653.80 438.90 592.51 552.50 772.41 743.54 724.61 385.69 771.21 454.78 Federal Home Loan Banks, outstanding advances to member institutions, end of period mil. $.. 64,662 64,409 65,194 65,099 65,089 66,162 67,941 67,801 69,398 69,325 68,399 67,642 67,077 66,308 Requests for VA appraisals Seasonally adjusted annual rates .... do. .. do New mortgage loans of all savings and loan associations, estimated total mil. $.. By purpose of loan: Home construction do.... Home purchase do . All other purposes do.... 48,963 65,194 72,537 53,283 3,465 2,934 3,760 2,628 2,849 3,966 3,807 3,797 5,006 4,101 4,543 r 5,112 4,102 14,946 42957 14,634 11,599 28299 13,385 650 1838 977 600 1498 836 824 1682 1,254 495 1,204 929 592 1320 937 966 1647 1,353 832 1,612 1,363 796 1607 1,394 1,052 2,080 1,874 859 1921 1,321 981 1962 1,600 1,154 1988 1,970 942 1677 1,483 7.9 101 DOMESTIC TRADE ADVERTISING Magazine advertising (Publishers Information Bureau): Cost, total mil. $.. Apparel and accessories do Automotive, incl. accessories do.... Building materials do Drugs and toiletries do.... Foods, soft drinks, confectionery do.... 2,872.6 1122 231.1 525 280.8 211.9 3,222.5 141 7 290.1 565 318.3 231.8 330.5 154 29.3 54 28.2 23.7 393.3 165 38.4 54 31.1 34.2 275.3 116 21.1 38 23.5 20.3 211.2 79 20.3 27 20.1 10.3 249.5 84 23.5 25 27.8 21.1 287.8 15 1 29.6 44 27.5 18.5 290.9 15.9 25.5 59 30.8 26.2 338.9 118 36.5 68 34.4 21.2 262.7 55 17.0 44 28.7 22.8 210.7 7.6 21.2 37 22.6 20.9 211.6 130 20.1 30 23.5 15.8 307.5 232 17.9 69 30.4 22.3 351.1 172 36.8 51 30.3 26.9 do do.... do do.... do.... do 2392 139.6 710 30.0 290.3 1 2139 2518 165.4 675 29.6 314.5 1 355 1 248 21.1 79 3.6 23.6 1468 337 23.5 83 3.5 28.4 1703 379 13.0 47 1.7 25.2 1127 15.1 7.1 35 1.5 21.2 101 4 162 6.7 42 1.9 24.5 1125 208 12.5 55 2.8 27.1 1233 207 14.9 52 3.1 28.9 1296 227 19.2 80 3.0 32.3 1430 232 9.6 35 2.3 28.2 1175 16 1 8.5 32 1.4 27.2 666 122 6.7 32 1.7 31.0 828 195 17.1 39 2.1 32.0 132 1 243 16.0 37 3.2 34.2 153 1 Newspaper advertising expenditures (Media Records Inc.): Total mil $ Automotive do.... Classified do Financial do.... General do.... Retail do 8 1859 1824 2 1956 2973 1,121.7 43889 95754 225.6 25149 387.2 1,380.0 50678 8567 247 2078 455 129.4 4494 9367 196 201 3 31 1 137.1 5475 7950 132 149 1 31 7 91.7 5094 7383 21.6 2084 426 120.6 3450 7296 22.5 1973 260 119.1 3647 8243 25.8 2185 31.3 128.8 4199 8147 24.1 2092 30.6 122.8 428.0 9049 25.0 2336 29.4 137.8 4790 mil. $.. 1,055,168 1,174,072 100,820 448 040 499 970 43253 do do.... 607,128 674,102 57,567 95,938 40333 55,605 98,565 41 012 57,553 87,340 35404 51,936 87,470 103,912 36578 42482 50,892 61,430 96,622 39675 56,947 95,748 37908 57,840 98,549 39582 58,967 91,642 37348 54,294 92,666 38383 54,283 r 91,904 r 38 647 r 91,194 38516 52,678 Beer wine liquors Houshold equip., supplies, furnishings Industrial materials Soaps, cleansers, etc Smoking materials All other WHOLESALE TRADE $ Merchant wholesalers sales (unadj.), total Durable goods establishments Nondurable goods establishments Merchant wholesalers inventories, book value, end of year or month (unadj.), total mil. $.. Durable goods establishments do.... Nondurable goods establishments do.... 104,655 65,825 38,830 53,257 111,163 108,655 111,015 111,163 111,331 110,187 111,386 113,319 111,342 112,469 112,444 111,116 112,255 114234 72,345 71,008 72,450 72,345 71,575 71,931 73,073 75,265 74,169 75,238 76,219 75,031 r75,344 75,171 38,818 37,647 38,565 38,818 39,756 38,256 38,313 38,054 37,173 37,231 36,225 36085 r36,911 39063 RETAIL TRADE All retail stores: t Estimated sales (unadj.), total t 951,902 1,038,790 88,779 87,331 106,069 76,647 75,698 86,129 87,502 90,347 88,426 90,600 89,130 '87,755 296,594 326,596 27,165 25,750 29,140 21,704 23,365 27,988 27,903 29,443 28,502 28,116 27,889 49,616 162,309 43,416 53,164 180,722 45,701 4,662 14,842 3,887 4,190 13444 3,987 3,841 13,341 4,836 3,058 12,118 3,211 3,055 13912 3,143 3,861 17,068 3,552 4,308 16,506 3,451 4,886 17329 3,477 4,808 16,225 3,647 4,665 15996 3,715 do.... do.... do do.... 655,308 117,227 217 047 93,624 712,194 127,494 237 586 101,665 61,614 11,014 20723 8,664 61,581 12,622 19 514 8,271 76,929 19,888 22019 8,555 54,943 7,442 19966 8,110 52,333 7,468 18594 7,460 58,141 9,473 20066 7,918 59,599 10,226 20616 7,819 60,904 10,775 21 157 8,062 59,924 10,143 20785 8,463 62,484 10,124 22398 8,852 do.... do.... do.... do 44,426 85,842 30,504 17083 47,755 94,070 32,999 17461 4,227 8,183 2,760 1458 6,676 7,888 3,837 2 125 3,302 7,279 2,590 1333 3,168 7,259 2,575 1257 3,934 8,889 2,833 1469 3,649 8,934 2,827 1450 3,812 9428 2,827 1560 '4,477 4,501 15880 15 828 r 3,577 3,676 r 59 993 61241 10,519 10,119 703 20 600 r20 r 8,144 8,577 r 3,919 4,130 r 9427 8,812 r 2,802 2,764 1439 1 389 mil. $.. Durable goods stores # do.... Building materials, hardware, garden supply, and mobile home dealers mil. $.. Automotive dealers do.... Furniture, home furn., and equip do.... Nondurable goods stores General merch. group stores Food stores Gasoline service stations Apparel and accessory stores Eating and drinking places Drug and proprietary stores Liquor stores 4,268 7,570 2,725 1 438 3,729 8129 2,802 1 362 4,038 8,464 2,829 1 410 do.... 86,413 86,733 86,572 85,320 87,418 87,242 88,294 90,841 88,042 89,445 Durable goods stores # , do.... Building materials, hardware, garden supply, and mobile home dealers # mil. $.. Building materials and supply stores .. do.... Hardware stores do.... 26,354 26,436 26,206 25,316 26,696 26,958 27,984 29,416 27,175 27,403 4,152 2,712 771 4,213 2,758 789 4,058 2,586 783 4,046 2,538 844 4,102 2,668 111 4,173 2,727 785 4,263 2,829 759 4,480 2,938 820 4,261 2,855 764 4,257 2,861 746 14596 14497 12866 12,819 1 730 1678 13677 12,083 1594 14819 13 156 1 663 15 175 13526 1649 16074 17269 14,360 15485 1 714 1784 15288 13446 1842 15492 13688 1804 3508 2 112 1,137 3634 2 161 1,180 3652 2 182 1,173 3723 2239 1,181 3641 2 187 1,136 3717 2204 1,222 Estimated sales (seas, adj.), total t Automotive dealers Motor vehicle dealers Auto and home supply stores do . do.... do 14506 12,806 1700 Furniture home furn and equip # Furniture, home furnishings stores Household appliance, radio, TV do do. .. do.... 3781 2289 1,228 See footnotes at end of tables. 3775 2270 1,246 3776 2285 1,236 3706 2233 1,184 r 27,762 r 90,440 '93,214 27,616 '28,940 r r 4,471 '4,078 15717 16 474 '3,669 '3,963 r 62 824 '64 274 11,076 13,082 r 21 246 '20 594 r 8,233 '8,066 r 4,142 '4,432 r 9066 '8486 '2,816 '2,878 1426 '89,326 r89,858 '91,911 26,668 '27,498 '27,761 '29,587 88,502 4,076 2742 714 r 4,077 r 2,733 r r 4,103 2776 749 709 '4,050 14911 15671 16 053 17759 13 137 13 893 14 280 15942 1 774 1 778 1 773 3 613 2 187 U23 r 3600 '2 180 1,109 r 3623 2234 U19 '3 646 S-9 SURVEY OF CURRENT BUSINESS December 1982 Unless otherwise stated in footnotes below, data through 1978 and descriptive notes are as shown in the 1979 edition of BUSINESS STATISTICS 1980 1981 1982 1981 Annual Oct. Nov. Dec. Jan. Feb. Mar. Apr. May June July Aug. Sept. Oct. Nov. DOMESTIC TRADE—Continued RETAIL TRADE— Continued All retail stores t —Continued Estimated sales (seas, adj.) —Continued 60059 10,634 8645 737 60297 10751 8721 740 60366 10774 8728 738 60004 10,427 8672 707 60722 10,735 8890 711 60284 10,833 8992 760 60310 10,700 8861 721 61 425 11,181 9237 759 60867 10,795 8923 717 62042 11,039 9 140 746 61 834 r61 828 r62 097 10,895 10 838 10 879 r 9003 r 8924 9000 r 758 735 732 do.... do do 20199 18694 8511 20393 18867 8536 20487 18950 8521 20213 18666 8628 20390 18737 8363 20340 18798 8047 20555 19026 7827 20984 19390 7935 20,648 19017 8075 20990 19361 8257 21067 r21 070 r21 104 '21245 19428 19 469 19 513 19645 8 138 r8 177 r8 143 '8247 Apparel and accessory stores # do Men's and boys' clothing do.... Women's clothing spec stores furriers do Shoe stores do . . 3994 678 1459 712 3985 630 1485 702 3984 627 1 471 750 3947 568 1534 722 4334 618 1661 786 4 196 619 1599 *781 4017 633 1562 700 4233 679 1641 759 4001 644 1542 707 4 175 660 1 595 754 4082 611 1556 746 r 4007 r 654 1503 r 741 r Eating and drinking places Drug and proprietary stores Liquor stores . . 7,999 2802 1,458 7935 2801 1463 7880 2801 1500 7973 2690 1466 8431 2827 1465 8329 2880 1495 8364 2852 1519 8514 2882 1496 8549 2920 1453 8697 2905 1468 8777 2892 1449 r 8699 r r 8914 r Nondurable goods stores General merch. group stores Department stores Variety stores mil. $.. do.... do do.... Food stores Grocery stores Gasoline service stations (2) do . . do do Estimated inventories, end of year or month: t Book value (unadjusted), total mil. $.. Durable goods stores # . . . . do Building materials and supply stores .. do.... Automotive dealers do Furniture home furn and equip . .. do Nondurable goods stores # General merch. group stores Department stores Food stores Apparel and accessory stores 111,104 52991 9,197 24708 8346 do.... do.... do do do.... 58,113 19811 14835 12*600 9,041 Book value (seas, adj ) total . . . . do Durable goods stores # do.... Building materials and supply stores .. do.... Automotive dealers do.... Furniture, home furn., and equip do.... 114 114 53,747 9,610 24488 8,542 Nondurable goods stores # General merch. group stores Department stores Food stores Apparel and accessory stores 60367 21,810 16213 12535 9388 do do.... do do . . do Firms with 11 or more stores: Estimated sales (unadjusted) total mil $ 64,242 22515 16897 13825 9,574 71,806 28405 21242 13905 10,978 73,427 28746 21 730 14208 11,193 64,242 22515 16 897 13825 9,574 62,445 22 113 16 600 13573 9,249 338 028 372 443 32282 33310 44821 25023 3,606 27216 3,846 2278 342 2 404 321 3447 345 Nondurable goods stores # General merchandise group stores Food stores Grocery stores Apparel and accessory stores Eating places .. . . Drug stores and proprietary stores do . do.... do do.... do.... do do.... 313 005 105,982 115059 113,630 17,066 18237 16,137 345 227 116,115 127 517 125,629 18,798 20 125 17,769 30004 9,992 11 246 11098 1,631 1755 1,436 30906 11,533 10488 10339 1,729 1690 1477 41374 18,270 12064 11 790 2,790 1705 2254 25484 6,753 10934 10797 1,160 1579 1394 31,187 315 8328 572 10640 31,391 313 8374 578 10725 31,827 320 8407 580 10927 31,311 329 8330 550 10733 Apparel and accessory stores Women's clothing spec stores, furriers Shoe stores Drue stores and Droorietarv stores M066 '8989 2 919 J 63,194 22575 16 882 13724 9,565 65,532 24016 18 025 13907 10,054 65,760 24 411 18 395 13907 9,945 65,080 24070 18 069 13825 9,882 65,630 24324 18 039 14009 9,837 65,909 rr67,318 24686 25 435 18 128 18 722 13702 13 586 9,963 10,533 70,068 26871 19820 13806 10,831 151 129 066 125 693 125 364 125 618 125 693 124 131 123 395 123 332 123 175 122 367 124 351 124 939 127 58,835 59,014 58907 58,835 57807 56,957 56,803 56,663 55,984 57,346 58,246 r60,075 61485 9,587 9,652 9,500 9,734 9,878 r r9,863 9,822 9,895 9,638 9,785 9,903 9,822 9,774 27,987 28294 28091 27987 27695 27,006 27,068 26,716 25,911 27,414 28,337 29,803 30929 8,679 9,074 8,968 8,708 8,604 8,900 9,074 8,826 8,728 8,791 r8,886 9,068 8,949 66858 66350 66711 66858 66324 66438 66529 66512 66383 67005 66693 rr67 076 67581 24,821 25,188 25 113 24821 24666 24611 24689 24,620 24444 24,751 24929 25 109 25 102 18487 18899 18798 18487 18465 18470 18506 18469 18270 18370 18 442 18629 18645 13,702 13474 13583 13702 13766 14018 13824 13893 13979 14 165 13896 13 835 13931 9952 9899 10 030 9 952 10097 10 197 10 301 10 200 10 177 10 236 10 115 10 296 10 189 do do.... do.... do do do.... do 2903 1455 324 10 949 '8987 122,236 130,334 133 246 122 236 119 899 120 063 123 374 123 540 122 399 124 049 124 371 125 253 129 050 57994 58528 59819 57994 57454 56869 57842 57780 57319 58 419 58 462 r57 935 58982 9,390 9776 9372 9*657 9970 9997 9666 9745 9390 9795 9951 9868 r9804 28211 26879 27 838 28 211 28 249 27 384 28 097 27 624 27207 28 483 28 762 r27 657 28 176 9047 8847 9256 8*605 8630 8688 8738 r8939 9349 8847 8663 8630 8772 Durable goods stores Auto and home supply stores Estimated sales (sea. adj.), total # Auto and home supply stores Department stores . . .. Variety stores Grocery stores 2950 1448 4005 631 1537 718 J 62 1 (2) do do do do.... 1 544 651 337 1.501 1567 655 337 1.503 1 591 655 366 1.489 27 194 1 710 275 1 598 674 358 1.488 30277 31 360 32205 31268 32491 2 115 323 2205 352 2370 346 2368 359 2387 370 24420 6,814 10086 9,929 1,137 1512 1,374 28 162 29 155 8,715 9,401 10923 11 204 10,779 11,031 1,477 1,666 1 750 1804 1,524 1,535 29835 9,931 11321 11,175 1,606 1925 1550 31,951 339 8539 563 10863 32,044 337 8668 598 10910 32,737 341 8914 619 11 130 26 138 1 718 259 1 710 718 368 1.561 1664 697 365 1.611 31,789 329 8517 586 10987 1 614 676 342 1.547 1 724 713 388 1.578 r 31 914 r 31 489 2305 348 2331 344 28900 9,334 11 038 10,889 1,458 1926 1,518 30 104 r29 609 9,279 r9,686 12046 10 928 11886 10778 1,776 1,534 2014 r2011 1554 1521 29 158 9,287 11 172 11023 1,619 1885 1,490 32,362 332 8626 571 11 044 32,932 r32,651 338 348 8830 r8680 602 604 11 140 11321 32,747 343 8626 587 11 191 1 614 679 353 1.588 1 740 1r 680 700 713 357 379 1.575 1.604 1 639 678 349 1,621 LABOR FORCE, EMPLOYMENT, AND EARNINGS POPULATION OF THE UNITED STATES Total, incl. armed forces overseas f mil.. 3 3 109,042 2,102 106,940 99303 7,637 110,812 .111,402 111,337 110,738 110,173 110,492 110,936 110,990 112,089 113,742 114,706 114,083 112,744 112,955 113,035 2,108 2 196 2,176 2,173 2,180 2,198 2 188 2,142 2,168 2,175 2,175 2,158 2,158 2,164 2,159 108,670 109,244 109*. 179 108*,574 108*,014 108,324 108,761 108^814 109,914 111,569 112,526 111,887 110,546 110,767 110,855 100 397 101 028 100,502 99,562 97,831 97946 98471 98858 99957 100,683 101,490 101,177 99851 99,825 99,379 9,957 9,957 10,886 11,036 10,710 10,695 10,942 11,476 8,273 8,216 8,676 9,013 10,' 183 10,378 10,290 227.66 229.81 230.48 230.67 230.84 231.01 231.18 231.32 231.48 231.63 231.81 231.99 232.22 232.43 232.63 232.84 LABOR FORCE Not Seasonally Adjusted Labor force, total, persons 16 years of age and over Armed forces Civilian labor force total Employed Unemployed thous.. do do ... do do.... Seasonally Adjusted H Civilian labor force total . .. Participation rate * Employed total Employment-population ratio * Agriculture Nonagriculture . . Unemployed total Long term, 15 weeks and over See footnotes at end of tables. 3 9 3 - 9 3 6 0 - 83 - S2 . do percent.. thous.. percentthous.. do . 58.5 3,364 95,938 do do.... 1,871 63.8 109 012 109 272 109 184 108 879 109 165 109 346 109 648 110 666 110,191 110,522 110 644 110980 110,644 111,019 64.0 64.2 64.1 64.3 63.7 63.8 64.0 64.1 64.3 63.7 63.9 63.8 63.5 63.8 100 343 100 172 99613 99581 99590 99492 99340 100,117 99,764 99,732 99,839 99,720 99,093 99,032 56.6 57.1 57.1 56.5 57.0 57.2 57.2 57.1 57.5 58.3 57.5 57.3 58.0 57.9 57.4 3,426 3,470 3,435 3,368 3,357 3,460 3,309 3,349 3,488 3,373 3,368 3,378 3,372 3,209 3,411 97,030 96,965 96,800 96,404 96,170 96,217 96,144 96,032 96,629 96,406 96,272 96,404 96,352 95,667 95,563 9575 9854 10307 10549 10,427 10,790 10,805 11,260 11,551 11,987 8669 9,100 9571 9,298 4,547 3,631 4,153 3,673 3,580 3,870 3,015 3,286 2,724 2,954 2,285 2,292 2,372 2,399 2,364 63.9 S-10 SURVEY OF CURRENT BUSINESS Unless otherwise stated in footnote? below, data through 1978 and descriptive notes are as shown in the 1979 edition of BUSINESS STATISTICS 1980 1981 1982 1981 Oct. Annual December 1982 Nov. Dec. Jan. Feb. Mar. Apr. May June July Aug. Sept. Oct. Nov. LABOR FORCE, EMPLOYMENT, AND EARNINGS—Continued LABOR FORCE—Continued Seasonally Adjusted U Civilian labor force—Continued Unemployed—Continued Rates (unemployed in each group as percent of civilian labor force in the group): All civilian workers Men 20 years and over Women 20 years and over Both sexes 16-19 years 7.1 5.9 6.4 178 7.6 63 6.8 196 8.0 67 7.0 204 8.3 71 7.2 21 4 8.8 79 7.4 215 8.5 7.5 7.2 21 7 8.8 7.6 7.6 22.3 9.0 7.9 7.9 21.9 9.4 8.2 8.3 23.0 9.5 8.4 8.3 23 1 9.5 8.7 8.1 22.3 9.8 8.8 8.4 24.1 9.8 8.9 8.2 240 10.1 96 8.3 237 10.4 9.8 8.6 24.0 10.8 10.1 9.1 242 White Black and other . Married men, spouse present Married women spouse present Women who maintain families 63 13.1 4.2 5.8 9.2 67 14.2 4.3 60 10.4 70 15.2 4.8 61 10.6 74 15.2 5.2 65 10.8 77 157 5.7 66 10.5 75 15.1 5.3 6.2 10.4 7.7 15.9 5.3 7.0 10.2 7.9 16.6 5.5 7.1 10.6 8.4 16.9 6.0 7.8 11.5 85 17.2 6.1 7.4 11.8 8.4 17.1 6.5 7.0 12.4 8.7 17.3 6.6 7.4 12.0 86 17.5 6.7 7.1 11.6 90 18.2 7.3 75 12.4 9.3 18.5 7.6 7.9 11.2 9.7 18.6 7.7 8.4 12.5 37 10.0 40 10.3 41 10.9 42 11.8 45 12.7 4.2 12.5 4.6 12.5 4.8 12.9 4.9 13.7 4.8 13.5 50 13.9 4.9 14.4 4.8 14.2 48 156 51 159 5.6 16.5 ... 74 14.1 85 9.0 77 15.6 83 8.2 81 17.6 86 8.6 84 17.8 94 9.5 91 18.1 110 11.8 8.8 18.7 104 11.0 9.0 18.1 10.6 11.3 9.5 17.9 10.8 10.8 9.9 19.4 11.3 11.9 9.9 18.8 116 12.2 10.0 19.2 123 13.2 10.2 20.3 12.0 12.7 10.1 20.3 12.1 12.9 107 22.6 138 149 11 1 23.0 14 1 160 11.5 21.9 148 17.1 Employees on payrolls of nonagricultural estab.: Total, not adjusted for seasonal variation ....thous.. Private sector (excl. government) do.... 90,406 74,165 91,105 75,081 91,884 75,884 91,765 75,628 91,437 75,329 89,269 73,407 89,413 73,328 89,679 73,503 89,984 73,830 90,455 74,295 90,570 74,599 89,238 74,230 89,057 74,180 r 89,523 74,129 r 89,536 73,706 P r r P do.... do.... do do.... do do. . 90,406 74 165 53880 25,658 1027 4346 91,105 75,081 54908 25,481 1 132 4 176 91,224 75,307 55210 25,393 1 195 4,101 90,996 75088 55 185 25,176 1 202 4071 90,642 74725 55049 24,908 1 206 4026 90,460 74,596 55079 24,684 1201 90,459 74,609 55 155 24,631 1203 3,974 90,304 74,445 55 126 24,450 1 197 3,934 90,083 74,231 55,062 24,289 1 182 3,938 90,166 74,313 55,198 24,255 1 152 3,988 89,839 74,007 55077 23,994 1 124 3940 89,535 73,900 55087 23,840 1 100 3927 89,312 73,640 54968 23,657 1086 3899 r '88,878 r 73 133 r 54 810 r 23 242 1 065 r 3854 "88,715 P 72 974 P 54 789 P 23 086 p l 051 P 3850 Manufacturing .... Durable goods Lumber and wood products Furniture and fixtures Stone, clay and glass products Primary metal industries Fabricated metal products Machinery, except electrical Electric and electronic equipment Transportation equipment Instruments and related products Miscellaneous manufacturing do . do.... do do.. . do.... do.. . do do.... do.... do.... do.... do.... 20285 12,187 690 465 662 1 142 1613 2,494 2,090 1,899 711 418 20,173 12,117 668 467 638 1,121 1592 2,507 2,092 1,892 726 410 20,097 12,059 643 469 629 1,104 1577 2,532 2,101 1,861 731 412 19903 11,901 628 462 620 1082 1553 2,511 2,077 1,830 727 411 19676 11,724 615 457 610 1053 1529 2,486 2,049 1,791 725 409 19,517 11,622 607 452 596 1,038 1515 2,459 2,055 1,777 720 403 19,454 11,575 611 449 596 1,024 1505 2,446 2,048 1,778 718 400 19,319 11,490 607 446 590 1,007 1496 2,419 2,038 1,774 716 397 19,169 11,375 615 443 584 976 1481 2,389 2,034 1,748 713 392 19,115 18930 18813 11,332 11,203 11,133 617 614 615 439 443 442 579 586 580 945 906 926 1 472 1 452 1446 2,377 2,274 2,322 2,018 2,034 2,026 1,759 1,755 1,745 708 713 708 387 390 390 Nondurable goods . . . Food and kindred products '. Tobacco manufactures Textile mill products Apparel and other textile products Paper and allied products Printing and publishing Chemicals and allied products Petroleum and coal products Rubber and plastics products, nee Leather and leather products do . do.... do.... do do.... do.... do.... do.... do.... do.... do.... 8098 1,708 68 847 1,263 692 1,252 1,107 197 726 232 8,056 1,674 69 822 1,244 687 1,265 1,107 215 736 233 8038 1,662 69 814 1,243 685 1,276 1,107 215 734 233 8002 1,664 69 804 1,235 681 1,276 1,103 215 725 230 7895 1,657 69 780 1,201 674 1,275 1,095 210 712 222 7879 1,663 68 1,201 670 1,276 1,093 208 708 215 7,829 1,658 68 760 1,186 668 1,278 1,088 207 703 213 7794 1,643 67 773 1,165 664 1,274 1,082 206 706 214 7783 1652 67 759 1,165 661 1,274 1,079 207 708 211 7727 1637 67 741 1,161 658 1,269 1,073 205 704 212 7680 1,643 65 741 1,126 657 1,267 1,068 205 700 208 7679 1628 65 737 1,145 653 1,269 1,070 205 699 208 do do.... do.... do . do.. . do.... do.... do.... do do.... 64748 5,146 20,310 5275 15035 5,160 17,890 16241 2866 13,375 65625 5,157 20,551 5359 15,192 5,301 18,592 16,024 2772 13,253 65831 5,162 20654 5380 15274 5,325 18,773 15917 2757 13,160 65820 5,150 20623 5375 15248 5,324 18,815 15908 2749 13,159 65734 5,128 20524 5357 15 167 5,331 18,834 15917 2756 13 161 65776 5,125 20,630 5,346 15284 5,326 18,831 15864 2741 13,123 65828 5,115 20,670 5,343 15,327 5,326 18,867 15,850 2737 13,113 65854 5,100 20,655 5,336 15,319 5,336 18,904 15,859 2736 13,123 65794 5,094 20,584 5,323 15261 5,335 18,929 15852 2730 13,122 65911 5,101 20,652 5,331 15,321 5,342 18,963 15,853 2728 13,125 65845 5,078 20,595 5,307 15,288 5,352 18,988 15832 2739 13,093 65695 5,044 20,615 5,299 15316 5,359 19,042 15635 2737 12,898 65655 5,025 20550 5,278 15272 5,360 19,048 15672 2739 12,933 r r r r Production or nonsupervisory workers on private nonagric. payrolls, not seas, adjusted thous.. Manufacturing do 60,331 14214 60,881 14021 61,585 14079 61,311 13834 61,007 13515 59,135 13200 59,094 13 168 59,257 13093 59,562 12971 60,027 12958 60,284 12931 59,931 12618 59,868 12674 r 60,331 18442 762 3421 14,214 8442 577 375 513 877 1,195 1,602 1,328 1,233 425 313 60,881 18245 832 3250 14,021 8301 555 376 491 860 1,172 1,585 1,311 1,215 428 304 61,017 60,775 60,401 60,248 17972 17754 17478 17251 877 875 882 883 3 180 3035 3 155 3 107 13915 13717 13*488 13,341 8218 8061 7793 7885 531 503 497 516 359 376 369 364 484 452 475 465 843 821 795 780 1 156 1 133 1 110 1096 1,598 1,526 1,576 1,552 1,314 1,266 1,285 1,257 1 184 1 159 1 115 1,102 428 420 424 423 304 301 295 303 60,282 17225 876 3059 13,290 7759 502 356 452 770 1089 1,514 1,258 1,108 418 292 60,132 59,923 17073 16922 871 863 3023 3017 13 179 13042 7685 7576 497 507 353 350 446 441 756 727 1081 1 069 1,490 1,460 1,248 1,241 1 109 1086 415 411 290 284 60,025 '16917 835 3074 13008 7553 507 350 444 702 1063 1,454 1,240 1098 412 283 59,759 59,670 59,388 r59,303 r58,935 P58,762 16686 16564 16 414 16 308 16 046 P15915 r P 782 753 805 770 763 743 r r 3029 3022 2997 2979 2953 P2 950 P 12852 12760 12647 12 566 12 340 12 222 7 443 7 388 7 272 r7r 191 '6 982 P6 896 P 506 504 505 507 506 507 r P r 349 346 350 341 341 346 P r 438 438 '426 421 435 433 r P r 686 669 607 591 657 638 r P 1 046 1043 1027 990 983 1017 p 1,408 1,366 1,249 l,223 1,328 1,309 p 1,233 l,177 1,221 1,215 1,202 1,182 P 1089 996 1 112 1 075 1 064 1r 020 P 407 406 402 391 388 399 P 281 282 277 276 '272 269 Occupation: White-collar workers Blue-collar workers Industry of last job (nonagricultural): Private wage and salary workers Construction Manufacturing Durable goods EMPLOYMENT t 89,451 73,482 Seasonally Adjusted t Total employees, nonagricultural payrolls Private sector (excl. government) Nonmanufacturing industries . . . Goods-producing Mining Construction Service-producing Transportation and public utilities Wholesale and retail trade Wholesale trade Retail trade Finance, insurance, and real estate Services Government Federal State and local 7952 1 661 68 794 1,222 677 1,276 1,100 214 716 224 777 89,267 r 73,504 r 54 932 r 23,530 1075 r 3883 18672 18 572 18 323 P18 185 10,993 10,900 10 663 P10 563 r r P 614 616 612 616 r r P 443 439 433 433 r r P 574 571 564 559 r r P 889 865 831 811 p 1427 1 414 1 380 l 370 r 2,230 2,208 2,142 P2,109 p 2,011 1,995 1,969 1,965 p 1,719 1,709 1,662 1,638 r P r 702 701 688 692 P 384 374 382 '378 r r 7660 1647 r 62 •735 1,143 r 649 1,269 1,060 r 208 '683 '204 7672 1629 63 735 1,143 657 1,269 1,066 209 694 r 207 65 737 r 5,031 20,492 r 5,272 15 220 '5,367 19,084 15 763 2734 13,029 "7622 P 1640 P 61 P 725 p l,134 P 650 p l,266 p l,062 P 205 P 676 P 203 65 636 P65 629 '5,009 P P5,009 20,437 20,388 r 5,251 P5,232 15 186 P15,156 '5,358 P5,364 19,087 "19,127 15 745 P15741 2723 P 2726 13 022 P13,015 59,868 r59,483 12773 12497 P 59,277 12331 P Seasonally Adjusted t Production or nonsupervisory workers on private nonagricultural payrolls t thous.. Goods-producing . . . . do Mining do Construction . . . . do Manufacturing do.... Durable goods do Lumber and wood products do.. Furniture and fixtures do.... Stone, clay, and glass products do.... Primary metal industries do. Fabricated metal products do.... Machinery, except electrical do.... Electric and electronic equipment do.... Transportation equipment do.... Instruments and related products do.... Miscellaneous manufacturing do.... See footnotes at end of tables. S-ll SURVEY OF CURRENT BUSINESS December 1982 Unless otherwise stated in footnotes below, data through 1978 and descriptive notes are as shown in the 1979 edition of BUSINESS STATISTICS 1980 Oct. Annual 1982 1981 1981 Nov. Dec. Jan. Feb. Mar. Apr. May June July Aug. Sept. Oct. Nov. LABOR FORCE, EMPLOYMENT, AND EARNINGS-Continued EMPLOYMENT t— Continued Seasonally Adjusted t Production or nonsupervisory workers—Continued Nondurable goods thous . Food and kindred products do.... Tobacco manufactures • •• • do Textile mill products do.... Apparel and other textile products do.... Paper and allied products do.... Printing and publishing do.... Chemicals and allied products do.... Petroleum and coal products do.... Rubber and plastics products, nee do.... Leather and leather products do.... Service-producing .. Transportation and public utilities Wholesale and retail trade .. Wholesale trade Retail trade Finance, insurance, and real estate Services do do.... do do.... do.... do.... do.... 5531 1 142 53 667 1,018 501 699 609 124 538 180 5494 1,138 53 651 1,006 499 701 609 124 534 179 5466 1,125 52 662 987 496 698 602 123 541 180 5455 1,133 52 650 985 493 699 600 123 543 177 5409 1,121 52 633 982 489 696 595 122 542 177 5372 1 129 51 634 949 489 694 591 122 541 172 42997 4,241 18 Oil 4,332 13,679 4,007 16738 43057 4,232 18061 4,327 13,734 4,003 16761 43059 4,217 18051 4,317 13,734 4,004 16787 43001 4,209 17996 4,301 13,695 3,999 16797 43 108 4,212 18065 4,309 13,756 3,998 16,833 43073 4,194 18014 4,287 13,727 4,012 16,853 43 106 4,165 18037 4,282 13,755 4,013 16,891 35.2 350 44 8 37 1 33.9 34 4 429 333 34.8 350 43 6 359 34.7 349 438 370 34.6 34.9 427 367 34.8 35.0 426 375 35.0 34.9 428 375 35.2 34.9 425 380 35.2 34.8 424 37.6 39.9 39 1 24 37.1 37 6 23 39.2 39 4 24 39.1 390 23 38.7 390 24 39.0 39 1 23 39.3 392 24 38.9 392 24 39.0 390 2.4 5772 1,174 53 736 1,079 522 698 625 124 559 196 5721 1,150 54 712 1,059 518 698 627 134 569 197 5697 1 142 54 704 1,056 515 702 625 133 568 198 5656 1 144 54 693 1,049 511 700 621 132 557 195 42015 4,293 17812 4,312 13,500 3,907 15,921 42964 4,277 17960 4,360 13,600 4,002 16539 43 045 4,275 18053 4,373 13,680 4,019 16698 43021 4,261 18016 4,367 13,649 4,013 16731 42923 4,241 17920 4,348 13,572 4,014 16748 35.3 35.2 35.2 35 1 44 5 376 35.1 351 44 4 37 1 39.7 39 5 27 39.7 393 25 5603 1 140 53 683 1,036 506 700 616 131 548 190 5548 1 135 54 670 1,018 504 699 612 125 544 187 5375 1,115 51 630 967 487 695 593 122 540 175 5375 l,116 49 631 r 966 r 492 r 695 592 126 535 173 r r P 5358 1,131 r 48 r 631 r 964 r 483 r 695 r 587 125 r 524 170 42974 r 42 995 r42 889 4,142 4,155 r4,131 17941 17 889 17 833 r 4,260 4,253 4,236 13,681 13,636 13,597 r r 4,006 4,014 4,001 16,885 16 937 16 924 p 5326 l,124 P 46 P 622 P 956 P 485 P 692 P 5!91 P 125 P 516 P 169 P 42 847 P 4,134 17761 P 4,215 P 13,546 P 4,000 P 16 952 P AVERAGE HOURS PER WEEK t Seasonally Adjusted Avg. weekly hours per worker on private nonagric. payrolls: |j Not seasonally adjusted hours.. Seasonally adjusted do.... Mining i do Construction $ do.... Manufacturing: Not seasonally adjusted do.... Seasonally adjusted • do Overtime hours do .. 433 370 437 369 39.7 39.8 28 28 34.8 34.8 419 36.9 r P 34.6 P r P 38.9 388 23 r P r P 38.9 r 21 r 38.5 r 37.4 r 402 r 378 38.8 r 39.0 38.8 39.8 r 39.8 r 38.3 r 39.0 r 20 r 38.1 r 37.5 402 r 380 r 38.9 r 39.3 r 39.0 r 40.0 39.3 r 38.5 P r P r P 39.4 P r r 34.7 34.7 420 r 37.2 346 41 5 362 P 39.0 388 r 23 39.2 38 9 P Durable goods Overtime hours Lumber and wood products Furniture and fixtures Stone clay and glass products Primary metal industries ... Fabricated metal products Machinery, except electrical Electric and electronic equipment Transportation equipment Instruments and related products Miscellaneous manufacturing do.... do do.... do.... do do do ... do.... do.... do.... do.... do.... 40.1 28 38.5 38 1 408 40 1 404 41.0 39.8 40.6 40.5 38.7 40.2 28 38.7 384 406 405 403 40.9 39.9 40.9 40.4 38.8 40.0 26 37.8 380 40 1 400 400 40.8 39.8 40.6 40.3 38.9 39.7 24 37.7 376 40 1 396 397 40.7 39.4 40.4 40.2 39.0 39.5 23 37.7 379 397 392 395 40.4 39.5 39.7 39.0 38.5 38.2 22 35.0 336 386 383 38 1 39.3 38.3 39.0 39.0 37.3 39.8 22 37.9 377 40 1 394 397 40.7 39.8 405 39.9 38.6 39.5 22 37.6 373 400 388 395 40.2 39.4 40.4 39.9 38.6 39.5 22 37.6 374 400 385 394 40.1 39.3 41.1 39.9 38.5 39.6 22 38.5 375 402 385 395 39.8 39.4 41.1 40.2 38.7 39.7 23 38.7 378 40 4 389 394 39.6 39.5 41.6 40.2 38.6 39.7 22 38.6 376 406 389 39.5 39.8 39.8 41.0 40.1 38.7 39.4 22 38.2 37.9 403 38.8 39.2 39.5 39.3 40.5 40.1 •38.6 Nondurable goods Overtime hours Food and kindred products Tobacco manufactures $ Textile mill products Apparel and other textile products do.... do do.... do.... do . do.... 39.0 28 39.7 38.1 40 1 35.4 39.1 28 39.7 38.8 396 35.7 389 28 39.5 394 390 35.5 38.7 27 39.5 38.8 387 35.5 38.6 26 39.8 38.1 378 35.1 368 25 39.1 36.1 323 31.4 389 26 40.2 383 383 35.5 385 25 39.5 37.3 376 35.0 38.4 26 39.4 36.6 377 34.7 38.5 25 39.4 37.2 379 34.8 38.6 25 39.5 38.4 378 35.1 38.6 26 39.5 36.8 377 35.2 38.5 26 39.1 38.1 382 35.0 r Paper and allied products Printing and publishing Chemicals and allied products Petroleum and coal products Rubber and plastics products, nee Leather and leather products do.... do.... do.... do.... do.... do.... 42.2 37.1 41.5 41.8 40.0 36.7 42.5 37.3 41.6 43.2 40.3 36.8 42.4 37.1 41.5 42.2 39.9 36.7 42.0 37.1 41.2 42.5 39.6 36.5 41.8 37.1 41.3 427 39.4 36.1 41.3 36.9 41.0 443 37.9 34.1 42.3 37.4 41.2 43.5 40.0 35.6 41.8 37.1 40.7 43.5 39.6 35.8 42.1 37.1 40.7 44.0 39.8 35.6 41.8 36.8 41.0 44.1 39.9 35.6 42.0 37.1 41.0 44.1 40.1 35.7 41.9 37.0 40.9 43.3 40.2 36.1 41.7 36.8 40.9 43.9 39.7 36.0 41.5 37.0 41.2 r 44.0 39.6 35.7 r 41.7 36.9 40.8 r 42.7 39.1 r 35.0 P 39.3 31.9 38.5 299 36.3 326 r r 38.7 r P 396 322 385 302 36.2 326 394 322 386 30 1 36.3 326 39 1 320 384 299 36.2 326 392 32 1 38.5 300 36.2 326 393 320 384 299 36.2 326 385 31 7 38 1 297 36.2 32 5 392 320 385 299 36.2 326 39.0 31 9 38.4 298 36.3 326 388 318 383 298 36.2 327 388 320 385 300 36.3 327 39.2 31 9 38.6 298 36.1 327 39.2 31 9 38.5 299 36.2 326 Employee-hours, wage & salary workers in nonagric. establish, for 1 week in the month, seas adj at annual rate bil hours Total private sector do.... Mining . do Construction do.... Manufacturing .... do Transportation and public utilities . do Wholesale and retail trade do... Finance, insurance, and real estate do.... Services . do Government do... 16939 137.55 232 8.36 4189 1061 34 17 9.74 3045 31 84 169 96 139.05 258 801 4169 1057 3454 10.01 3165 3091 169 73 139.08 2 76 786 41 46 10 52 3454 10.04 31 91 3064 16876 138.55 277 794 4084 1048 3445 10.04 3203 3022 168 66 137.41 279 lib 40 14 10 41 3421 10.05 3205 31 24 165 66 136.28 2 73 728 3944 10 43 3425 10.03 32 11 2938 168 93 137.80 273 776 3993 10 46 3464 10.01 3227 31 13 16792 136.61 273 7.61 3931 10 40 3436 10.06 32 14 31 32 167 23 135.98 265 753 3892 1036 3426 10.05 3221 31 25 16799 136.79 258 7.75 3906 1037 34.60 10.14 3229 31.20 16652 135.78 251 7.49 3879 1034 34.32 10.09 3224 3073 166 16 135.75 245 7.56 3558 1027 34.48 10.09 3233 3040 Indexes of employee-hours (aggregate weekly): H Private nonagric. payrolls, total 1977=100.. Goods-producing do Mining do.... Construction do Manufacturing do Durable goods do... Nondurable goods do.... Service-producing do Transportation and public utilities do.... Wholesale and retail trade do.... Wholesale trade do Retail trade do... Finance, insurance, and real estate do.... Services do.... 107.2 1024 1226 1150 989 995 981 1098 106.3 105.5 1103 1037 114.5 115.0 108.0 100 9 1345 1089 978 980 976 111 9 105.1 106.5 111 7 1045 117.4 119.3 104.3 91 4 1416 968 880 873 89.0 111 4 102.8 105.2 1097 1034 116.9 120.3 106.2 956 1437 1029 919 906 93.8 112 1 103.7 106.3 1107 104.6 116.8 120.9 105.6 939 142.6 101 1 903 89.1 92.0 1120 103.3 105.9 110.2 104.2 117.1 121.1 105.7 105.2 930 933 138.4 133.6 1009 1045 89.3 89.2 87.8 87.8 91.5 91.4 1119 1125 102.8 . 102.6 106.5 105.5 109.5 110.3 103.9 105.1 117.0 117.9 121.8 121.5 104.9 919 128.2 1010 884 86.7 91.0 112.1 102.2 105.8 110.0 104.2 117.4 121.9 104.8 91 4 125.1 1019 87.8 86.1 90.3 112.2 101.5 106.1 109.6 104.7 117.4 121.8 Transportation and public utilities $ Wholesale and retail trade .. . Wholesale trade Retail trade . Finance, insurance, and real estate $ Services do.... do do.... do do.... . do 38.6 26 39.4 39.7 38 1 35.2 r 38.8 32 1 38.4 30 1 r 36.1 328 23 39.1 P 21 P 38.6 P 37.7 P 402 P 384 P 38.9 P 39.0 P 39.1 P 40.5 P 39.3 P 38.6 38.5 P 26 38.5 26 39.7 r 39.4 r 383 r 35.0 38.6 P 386 P 34.9 41.7 37.0 P P 40.8 P 43.2 P 39.3 35.6 P 38.6 P 31 8 P 38.4 P 31 9 38.3 r 299 r 36.2 327 29.8 36.1 326 P P AGGREGATE EMPLOYEE-HOURS t Seasonally Adjusted See footnotes at end of tables. 107.7 99 7 1439 106 1 964 964 965 112 1 104.2 106.2 111 8 1044 117.6 120.4 107.3 984 1450 1069 946 940 95.4 1122 104.4 106.3 1118 104.3 117.4 120.6 106.3 963 1455 1042 925 914 94.1 111 8 103.6 105.4 111 0 1033 117.4 120.8 16561 165 60 164 46 "16328 P 133.80 135.14 134.87 133.18 r r P 234 231 227 238 r r P 7.31 7.30 7.47 7.c2 r P 37.82 37.36 P37.C4 38.24 16 1022 10 10 10 P 1003 r r 34.45 34.12 34.89 34.38 P 10.08 10.09 10.12 10.13 r r P 3266 3233 3251 3253 r r P 30.47 30.73 30.66 30.10 104.1 90.0 121.4 100.5 86.5 84.1 90.0 111.8 101.2 105.5 109.0 104.2 117.2 121.8 103.9 88.7 118.6 r 98.3 r 85.5 82.2 r 90.3 112.3 100.7 105.6 108.6 104.5 117.4 122.9 102.9 r 873 116.5 r 97.4 83.9 r 80.0 r 89.8 111.6 r 99.9 104.7 107.8 103.5 117.0 122.4 P 102.5 P 86.7 114.1 P 97.6 P 83.3 P 79.3 P 89.3 P 111.2 P 99.7 P 104.1 P 107.6 P 102.8 P 116.7 P 122.2 P SURVEY OF CURRENT BUSINESS S-12 Unless otherwise stated in footnotes below, data through 1978 and descriptive notes are as shown in the 1979 edition of BUSINESS STATISTICS 1980 1981 1982 1981 Oct. Annual December 1982 Nov. Dec. Jan. Feb. Mar. Apr. May June July Aug. Sept. Oct. Nov. LABOR FORCE, EMPLOYMENT, AND EARNINGS—Continued HOURLY AND WEEKLY EARNINGS t Average hourly earnings per worker: fl Not seasonally adjusted: Private nonagric. payrolls Construction do ... Manufacturing do.... Excluding overtime do Durable goods . do.... Excluding overtime do Lumber and wood products do.... Furniture and fixtures do.... Stone, clay, and glass products do.... Primary metal industries do.... Fabricated metal products do Machinery, except electrical do.... Electric and electronic equipment .... do.... Transportation equipment do.... Instruments and related products .... do.... Miscellaneous manufacturing do.... 6.66 9 17 9.94 7.27 702 7.75 749 6.55 5.49 7.50 9.77 745 8.00 6.94 9.35 6.80 5.46 7.25 1005 10.80 7.99 772 8.53 825 7.00 5.91 8.27 10.81 820 8.81 7.62 10.39 7.43 5.96 7.42 1025 11 16 8.16 789 8.73 8 44 7.10 6.06 8.50 10.97 839 9.04 7.80 10.74 7.60 6.05 7.47 1039 11 18 8.20 794 8.77 850 7.16 6.05 8.54 11.10 842 9.08 7.83 10.74 7.68 6.11 7.45 1041 11 26 8.27 800 8.83 855 7.16 6.12 8.56 11.08 853 9.18 7.90 10.76 7.81 6.19 7.55 1065 1159 8.42 8 17 8.92 868 7.38 6.28 8.70 11.23 855 9.19 7.98 10.79 7.93 6.27 7.54 1062 11.32 8.34 8 10 8.89 865 7.27 6.19 8.62 11.20 857 9.20 7.96 10.82 7.94 6.29 7.55 1062 1133 8.37 8 13 8.91 868 7.28 6.21 8.65 11.15 864 9.18 8.01 10.89 8.00 6.32 7.58 1065 1132 8.42 8 19 8.94 872 7.24 6.21 8.72 11.24 869 9.24 8.03 10.89 8.07 6.35 7.63 1066 11.46 8.45 822 9.01 377 7.41 6.23 8.80 11.23 879 9.26 8.05 11.08 8.16 6.38 7.64 1082 11.41 8.50 8.25 9.06 881 7.59 6.30 8.86 11.31 883 9.27 8.09 11.21 8.23 6.41 7.67 1091 1153 8.55 831 9.11 887 7.64 6.34 8.93 11.37 8.85 9.30 8.18 11.25 8.31 6.40 7.70 1093 11 60 8.51 826 9.09 884 7.61 6.39 8.93 11.49 885 9.33 8.24 11.18 8.40 6.39 7.76 1104 r !1.68 8.59 8.33 9.16 891 r 7.70 r 6.41 r 9.03 11.54 890 r 9.40 r 8.31 11.24 8.44 r 6.49 r 7.79 1096 11.81 8.56 r 8.31 9.13 890 r 7.62 r 6.43 r 9.01 11.43 r 885 r 9.35 r 8.34 11.29 r 8.48 6.51 P 7.80 P 1099 P 1169 P 8.62 P 836 P 9.17 P 892 P 7.59 P 6.46 P 8.99 P 11.53 P 892 P 9.37 P 8.39 P 11.35 P 8.54 P Nondurable goods do.... Excluding overtime do.... Food and kindred products do.... Tobacco manufactures do.... Textile mill products do Apparel and other textile products .. do.... Paper and allied products do Printing and publishing. do.... Chemicals and allied products do.... Petroleum and coal products do.... Rubber and plastics products, nee .... do.... Leather and leather products do.... Transportation and public utilities do Wholesale and retail trade do.... Wholesale trade do.... Retail trade do Finance, insurance, and real estate do.... Services do 6.55 6.32 6.85 7.74 507 4.56 784 7.53 8.30 10.10 6.52 4.58 887 5.48 6.96 488 5.79 585 7.18 6.93 7.43 8.88 552 4.96 860 8.18 9.12 11.38 7.16 4.99 970 5.93 7.57 525 6.31 641 7.33 7.07 7.51 8.67 572 5.05 882 8.40 9.37 11.47 7.30 5.09 994 6.01 7.73 529 6.43 658 7.38 7.12 7.61 9.04 573 5.04 889 8.42 9.42 11.58 7.31 5.11 1005 6.04 7.79 532 6.52 667 7.44 7.20 7.67 8.96 572 5.04 896 8.48 9.53 11.59 7.38 5.15 1006 6.02 7.81 531 6.47 666 7.67 7.42 7.82 9.21 576 5.18 906 8.58 9.68 11.91 7.51 5.19 10 10 6.17 7.94 543 6.56 679 7.54 7.31 7.74 9.56 576 5.13 899 8.56 9.68 12.29 7.49 5.22 10 13 6.16 7.94 542 6.62 679 7.57 7.34 7.79 9.72 576 5.15 903 8.59 9.71 12.32 7.45 5.24 1007 6.16 7.93 543 6.59 677 7.65 7.43 7.90 10.05 579 5.18 9 11 8.59 9.81 12.50 7.52 5.32 10 14 6.18 7.97 544 6.64 681 7.66 7.43 7.92 9.93 579 5.16 914 8.61 9.83 12.52 7.56 5.32 10 17 6.20 8.03 5.47 6.77 685 7.70 7.46 7.90 10.35 579 5.18 928 8.66 9.95 12.53 7.64 5.36 1020 6.20 8.01 547 6.71 684 7.77 7.53 7.88 10.42 581 5.17 941 8.74 10.02 12.42 7.65 5.30 1029 6.21 8.07 548 6.78 687 7.74 7.48 7.85 9.53 5.82 5.18 9.45 8.79 10.03 12.42 7.64 5.33 1043 6.22 8.11 548 6.87 690 7.84 7.56 r 7.91 9.57 586 5.20 963 r 8.90 10.20 12.62 7.76 r 5.41 1046 6.26 r 8.14 552 6.90 699 •7.80 r 7.54 r 7.86 r 9.56 r 588 5.20 r 952 r 8.88 10.24 12.55 r 7.72 r 5.39 1047 r 6.30 r 8.17 r 555 r 6.96 r 705 P 7.88 P 7.62 P 6.66 9 17 9.94 7.27 8.87 5.48 5.79 5.85 7.25 1005 10.80 7.99 9.70 5.93 6.31 6.41 7.40 1025 11.06 8.16 9.89 6.03 6.43 6.58 7.45 1039 11 14 8.20 9.97 6.06 6.52 6.63 7.46 10 41 11 22 8.20 10.02 608 6.47 665 7.52 1065 11 52 8.38 10.09 609 6.56 671 7.53 1062 11 34 8.34 10.13 6 10 6.62 672 7.54 1062 11 39 8.37 10.15 6 12 6.59 6.72 7.59 1065 11.43 8.44 10.18 6.16 6.64 6.80 7.65 1066 11.54 8.48 10.24 6.20 6.77 6.85 7.67 1082 11.51 8.52 10.30 6.22 6.71 6.90 7.71 1091 1156 8.56 10.30 6.23 6.78 6.96 7.74 1093 11.58 8.57 10.40 6.26 6.87 7.00 7.72 1104 11.56 8.56 10.37 6.25 6.90 701 r 7.76 1096 11 70 8.56 10.42 r 632 r 6.96 r 704 P 7.78 P 1099 P 1164 P 862 P 10.44 P 633 P 7.01 P 127.3 935 134.2 121.9 1294 127.2 1278 127.0 1255 138.9 926 148.3 131.9 141 9 139.4 1382 138.1 1373 142.0 92 1 151.4 134.7 1454 142.3 1405 141.4 1408 143.0 923 153.4 135.7 1464 143.5 141 2 142.6 142 1 143.5 923 153.4 136.6 1469 144.3 141 7 142.0 1426 144.9 929 156.2 139.9 1489 145.5 142 1 143.1 143 4 145.0 928 156.0 137.9 149 1 146.0 1425 143.3 1437 145.4 933 156.0 138.1 1499 146.3 1428 143.8 1439 146.3 937 156.5 1387 1508 146.9 1437 144.9 145 1 147.7 937 156.8 139.9 1518 148.2 145 1 148.0 1465 148.1 93 1 159.6 139.7 1525 149.1 1452 147.2 1473 148.9 930 161.3 140.6 1533 148.9 1457 148.6 1487 149.9 932 161.5 140.7 1542 150.3 1465 150.6 1497 150.1 932 163.2 1404 1547 149.9 1468 151.3 1497 150.8 r 93 1 162.1 142 1 1546 150.9 1476 152.6 1508 P 11.73 1842 12.92 1678 13.62 1766 13.69 1774 13.69 1772 13.78 1789 13.83 1799 13.83 1800 13.85 1807 14.15 1839 14.15 1840 14.45 1870 14.56 1898 14.64 1899 14.64 1901 3 66 3.59 382 3.67 9.92 10.64 10.61 1079 1100 11 25 1139 1109 11 22 11.29 11.29 11 54 11 55 23493 172.74 25474 170.13 25974 168.44 261 50 168.82 261 10 167.91 25869 165.93 26355 16862 263 15 16890 26489 169.69 26775 169.89 26768 168.14 26908 167.97 26935 16761 20640 151.65 22057 147.05 224 13 145.35 22603 14583 22573 145 16 235.10 397.06 36778 288.62 31078 255.45 351.25 17646 269.97 147.38 209.60 19071 255.20 439.19 39852 318.00 34291 280.74 382.18 19095 294.08 158.03 229.05 20897 261.18 456.13 41962 323.95 35007 286.60 388.65 19232 298.38 157.64 232.77 21385 262.20 461 32 414 78 325.54 35168 288.56 393.96 19268 300.69 15854 236.02 21678 262.24 46637 41775 32997 35673 291.65 395.36 194 45 302.25 16089 234.21 217 12 255.95 45689 38595 31238 33628 277.65 388.85 191 89 300.13 15747 237.47 21932 262.39 46303 40639 32693 35293 291.04 397.10 194 66 303.31 15935 239.64 22068 261.99 465 16 419 21 32727 35284 289.93 392.73 194 66 303.72 15964 239.22 22003 262.27 45476 415 44 32585 35045 291.47 393.43 195 91 304.45 16102 240.37 221 33 265.52 454.12 42975 32955 35590 294.14 394.60 19778 308.35 16301 245.75 22263 267.40 463 10 42788 33405 36059 297.99 399.84 199 02 309.19 16465 242.23 22435 269.98 46368 438 14 33260 357 11 299.15 403.37 202 45 312.31 16824 245.44 22740 271.04 46343 436 16 33189 356 33 299.54 409.90 202 77 313.05 16824 249.38 22770 129 119 110 111 109 106 103 96 88 87 85 83 78 dollars.. Seasonally adjusted: Private nonagricultural payrolls Mining Construction Manufacturing Transportation and public utilities Wholesale and retail trade Finance, insurance, and real estate Services dollars.. do do.... do.... do.... do.... do.... do Indexes of avg. hourly earnings, seas, adj.: ^] Private nonfarm economy: Current dollars 1977=100.. 1977 dollars $ do Mining do.... Construction do.... Manufacturing do Transportation and public utilities do.... Wholesale and retail trade do Finance, insurance, and real estate do.... Services do Hourly wages, not seasonally adjusted: Construction wages, 20 cities (ENR): § Common labor $ per hr.. Skilled labor do Farm (U.S.) wage rates, hired workers, by method of pay: All workers, other than piece-rate do.... Workers receiving cash wages only .. do Workers paid per hour, cash wages only.... do.... Railroad wages (average class I) do Avg. weekly earnings per worker, private nonfarm: fl Current dollars seasonally adjusted 1977 dollars, seasonally adjusted t Spendable earnings (worker with 3 dependents): Current dollars seasonally adjusted 1977 dollars, seasonally adjusted t • Current dollars, not seasonally adjusted: Private nonfarm, total dollars.. Mining do.... Construction do Manufacturing do.... Durable goods do Nondurable goods do.... Transportation and public utilities do.... Wholesale and retail trade do Wholesale trade do.... Retail trade do.... Finance, insurance, and real estate do.... Services do.. 26866 16687 See footnotes at end of tables. 1967—100.. 269 27 166 32 8.00 10.20 P 592 P 5.24 P 960 P 8.92 P 10.25 P 12.71 P 7.79 P 5.39 P 1052 P 6.31 P 8.18 P 557 P 7.01 P 707 P 703 151.0 P 93 2 P 162.8 P 1405 P 1553 P 151.2 P 1479 P 152.8 P 1508 P 14.69 P 19 10 P 269 P 19 166 27 (») (!) 270.05 rr 27031 PP269 88 58 460 32 456 09 430 99 rr439 33 P423 18 334 15 r333 84 P337 90 357 24 357 90 P362 22 r 304.19 rr301.86 P"305.74 r 405.85 r405.19 P406.07 200 95 200 97 200 66 r 312.58 r314.55 "314.93 16670 165 39 P165 43 r 249.09 rr251.95 PP253.06 22857 229 83 229 78 r 462 r HELP- WANTED ADVERTISING Seasonally adjusted index r 6.56 73 S-13 SURVEY OF CURRENT BUSINESS December 1982 Unless otherwise stated in footnotes below, data through 1978 and descriptive notes are as shown in the 1979 edition of BUSINESS STATISTICS 1980 1982 1981 1981 Nov. Oct. Annual Jan. Dec. Feb. Mar. Apr. May June Aug. July Sept. Oct. Nov. LABOR FORCE, EMPLOYMENT, AND EARNINGS—Continued WORK STOPPAGES H Work stoppages involving 1,000 or more workers: Number of stoppages: Beginning in month or year number.. Workers involved in stoppages: Beginning in month or year thous.. Days idle during month or year do 187 145 7 5 2 2 2 3 9 14 17 11 14 15 795 20844 729 16908 13 734 12 141 4 146 6 200 3 237 8 352 36 480 44 636 41 894 37 852 40 779 391 2 147 3837 3410 2753 3228 3935 4681 4723 4892 4760 4388 4328 4495 4398 4283 25373 3,350 23939 3,048 1996 2,592 2286 3,061 3272 3,778 3328 4,470 2272 4,376 2418 4,282 2 347 4,067 1 988 3,729 2398 3,707 2658 3,912 2358 3,831 2350 3,713 39 35 2,864 14,590.3 2,614 13,206.7 30 3.7 2,142 997.2 35 3.9 2,392 1,079.7 43 4.1 3,171 1,592.5 51 50 4.1 4.0 3,801 3,908 17642 1,781.8 49 4.3 3,944 2,072.6 46 4.6 3,672 1,849.9 43 43 45 46 47 45 3,257 3,326 3,331 1 5734 1 689 1 16794 44 47 3,413 17462 42 50 3,317 17146 UNEMPLOYMENT INSURANCE Unemployment insurance programs: Insured unemployment, all programs, average weekly & @ thous State programs (excl. extended duration prov.): Initial claims thous Insured unemployment, avg. weekly do.... Percent of covered employment: @ @ Unadjusted Seasonally adjusted Beneficiaries, average weekly thous... Benefits paid @ mil. $.. Federal employees, insured unemployment, average weekly thous.. Veterans' program (UCX): Initial claims do Insured unemployment, avg. weekly do.... Beneficiaries, average weekly do.... Benefits paid . . mil $ Railroad program: Applications thous.. Insured unemployment, avg. weekly do.... Benefits paid mil. $.. 30 32 32 36 39 40 40 38 33 29 28 29 27 26 267 56 56 2949 193 40 41 2303 11 26 26 130 9 22 21 10 1 11 19 20 102 8 16 15 71 8 13 12 53 10 11 10 51 9 10 8 40 8 9 7 34 10 8 7 33 10 7 6 28 11 7 5 28 10 8 6 29 162 34 176.1 184 40 210.8 21 37 16.0 13 43 16.4 19 56 25.3 22 73 30.5 11 67 28.0 9 65 33.9 5 52 26.3 5 43 19.1 36 41 18.6 68 54 18.0 20 59 27.0 14 65 31.1 FINANCE BANKING Open market paper outstanding, end of period: Bankers' acceptances mil $ Commercial and financial co. paper, total do.... Financial companies do.... Dealer placed do. Directly placed do.... Nonfinancial companies do Agricultural loans and discounts outstanding of agencies supervised by the Farm Credit Adm.: Total end of period mil $ Farm mortgage loans: Federal land banks do. . Loans to cooperatives do Other loans and discounts do. Federal Reserve banks, condition, end of period: Assets total # mil $ Deposits total Member-bank reserve balances Federal Reserve notes in circulation 69226 66072 68749 69226 70088 70468 71619 71 128 71 601 71 765 72559 72709 161,114 164,124 166,317 161,114 167,271 167,460 166,373 172,540 176,937 180,015 180,878 174,094 171,627 170,365 111,908 113,308 113,411 111,908 112,112 110,656 109 657 113 786 117918 121 083 122 885 117 202 115,216 115,530 30357 30716 30728 30357 30666 30974 31 844 32723 34336 35446 36983 36657 35584 35893 81551 82,592 82683 81551 81446 79682 77813 81063 83582 85637 85902 80545 79632 79637 49206 50816 52906 49206 55 159 56 804 56716 58 754 59 019 58 932 57 993 56892 56 411 54835 68648 78 188 78283 78 103 78 188 78387 79 035 79758 80695 80 972 81 415 81 659 81 564 r 81 566 81 352 38 138 9506 21005 46463 9 124 22619 45,386 9400 23497 45961 9315 22827 46,463 9 124 22619 46899 9498 21 990 47324 9760 21 951 47966 9581 22211 48425 9758 22512 48838 9260 22874 49289 8670 23456 49582 8355 23722 49845 8034 23685 50006 8078 r 23 464 50 160 8288 22904 171 495 176 778 167 256 171 676 176 778 179 941 170 321 172 249 182 959 173 574 173810 177 673 180 258 180 647 186 454 187 494 137,644 1809 121,328 11 161 143,906 134,665 139,140 143,906 141,871 138,575 139,700 148,335 141,249 140,244 143,812 144,502 146,838 142,629 149,394 374 1638 458 449 438 1799 1 123 1058 1601 924 232 1601 2217 1 180 2646 130,954 123,005 126,539 130,954 128,230 125,410 125,589 134,257 129,407 127,005 132,640 132,858 134,393 132,080 137,676 11 151 11 152 11 152 11 151 11 151 11 150 11 150 11 149 11 149 11 149 11 149 11 148 11 148 11 148 11 148 do 171 495 176 778 167 256 171 676 176 778 179 941 170 321 172 249 182 959 173 574 173810 177 673 180 258 180 647 186 454 187 494 do do ... do 31546 27456 124 241 30816 28742 29053 30816 39324 29630 30073 38357 26834 25325 29893 29076 32095 36638 29884 25228 23672 24312 25228 25066 24964 26*357 24*702 23463 20 198 24974 24993 20318 24678 26,533 131 906 125 351 129 086 131 906 126 835 126 869 128 855 130 189 132619 134 228 134 115 135 374 135 197 136 048 139 989 1 1 Reserve bank credit outstanding, total # .. do.... Time loans do... U.S. Government securities do.... Gold certificate account . do Liabilities total # 54744 121,597 87,667 19904 67,763 33930 All member banks of Federal Reserve System, averages of daily figures: Reserves held, total mil. $.. Required do Excess do.... Borrowings from Federal Reserve banks do.... Free reserves do Large commercial banks reporting to Federal Reserve System, Wed. nearest end of yr. or mo.: Deposits: Demand adjusted § mil $ 40,097 *40 067 '30 '1,617 l -l 471 41,918 *41J 606 312 '642 1 277 40,711 40433 278 1,149 -719 40,951 40604 347 695 269 41918 41606 312 642 277 43,210 42785 425 1,526 -1026 r 40,587 r 40r 183 41,161 40798 363 579 -169 94010 95278 102 299 97375 102 844 96793 104 736 172 931 157 940 179 476 178 515 158 878 182 564 164 592 187 996 131,868 120,484 133,774 133,268 120,287 136,351 124,103 139,931 5,391 4,479 5,710 4,594 5,133 4,640 4,850 4,521 1 874 3,014 2345 1575 1 133 1 148 900 2958 19695 16 143 23721 20,392 17299 20735 17,963 22,492 372 461 373 733 381 227 385 108 393 402 401 576 401 320 403 348 107 467 41280 39230 40981 38873 357 299 1,611 1,713 -1080 1 282 39,558 39284 274 1,581 -1 140 39,552 39 192 360 1,105 -508 39,567 39257 310 1,205 -656 39,864 39573 291 669 -153 40,177 39866 311 510 -80 39,963 39579 384 976 -490 404 455 r 35 Demand, total # Individuals, partnerships, and corp State and local governments U S Government . Domestic commercial banks .do do.... do.... do do.... Time total # . . . . Individuals, partnerships, and corp.: Savings Other time do 119 485 108 595 99021 106 737 108 595 99 682 95 764 228 086 187 518 163 230 186 099 187 518 170 840 169 273 158,283 140,376 123,561 137,774 140,376 127,443 125,658 5,829 5,235 4,123 5,235 4,985 5,328 4,492 1 108 2 148 1566 2 148 1 114 3645 3331 41,407 21,896 18025 22 158 21*896 19273 19762 314 128 362 502 350 216 356 985 362 502 367 200 370 510 do . do 72670 205 862 Loans (adjusted), total § Commercial and industrial For purchasing or carrying securities To nonbank financial institutions Real estate loans Other loans do.... do.... do.... do.... do . do.... 433,313 174,581 9,988 26,073 111819 135,555 76971 74359 76758 76971 250511 242 481 245 714 250 511 470,988 455,089 468,089 470,988 195,499 187,174 191,818 195,499 10,756 8,483 10,672 10,756 26,729 25,408 26,385 26,729 124 444 122 302 123 512 124 444 146,367 137 542 146,880 146 367 Investments, total U.S. Government securities, total Investment account * Other securities do.... do.... do.... do.... 118,098 39,611 35,239 78.487 116,905 116 293 119,081 116905 118 503 117 596 117 936 115,768 117,554 115,122 115,404 115,831 116,311 122,120 122,031 36,819 38,310 37,510 36,819 38,090 38,374 38,570 36,999 36,945 36,997 37,659 37,113 37,899 42,270 44,152 30,872 31,404 30,690 30,872 30,785 30,747 30,345 29,548 29,158 29,196 28,957 30,161 30,695 33,043 34,740 80.086 77.983 81.571 80.086 80.413 79.222 79.366 78.769 80.609 78.125 77.745 78,718 78.412 79.850 77,879 See footnotes at end of tables. 101 234 79286 79314 80434 78902 252 236 253 750 255 514 257 536 470,410 472,278 476,519 479,517 198,009 198,819 202,573 204,731 7,484 8,675 9,163 7,782 26,756 26,762 27,913 28,096 126 157 126 840 127 306 128 538 144 998 144,382 140,837 138,662 80795 79642 78899 263 021 269 351 276 274 486,083 490,863 488,186 209,058 212,428 210,500 9,056 8,700 9,421 27,768 27,666 27,368 129 098 129,689 130,082 143,552 144,398 143,263 80977 79898 85,222 280 606 281 321 278 768 495,430 499,562 503,707 212,741 217,315 216,951 10,257 10,496 12,207 28,090 27,279 27,312 131,003 131,471 131,759 151,608 148,534 154,608 190,848 143,159 5,238 1064 23,374 400 672 85764 276 097 503,562 217,027 11,627 27,017 131,987 152,199 SURVEY OF CURRENT BUSINESS S-14 Unless otherwise stated in footnotes below, data through 1978 and descriptive notes are as shown in the 1979 edition of BUSINESS STATISTICS 1980 1981 1982 1981 Nov. Oct. Annual December 1982 Dec. Jan. Feb. Mar. Apr. May June July Aug. Sept. Oct. Nov. FINANCE—Continued BANKING— Continued Commercial bank credit, seas, adj.: Total loans and securities fl . US Treasury securities Other securities Total loans and leases U bil $ do.... do . . . do. . . 1 239.6 110.0 2144 915.1 1,316.3 111.0 2314 973.9 13240 112.5 2287 982.8 1 327.5 13163 110.3 111.0 2312 2314 986.1 973.9 1,320.0 114.1 2315 974.5 13324 115.1 2320 985.2 1,342.5 114.4 233.1 995.0 1,352.6 116.6 234.0 1,002.0 1,361.9 116.3 234.9 1,010.7 1,368 7 115.8 2358 1,017.1 1376 1 116.5 2359 1,023.7 1,383.2 117.8 237 1 1,028.4 Money and interest rates: 13.41 14.00 13.00 12.10 12.00 12.00 12.00 12.00 12.00 12.00 11.81 10.68 10.00 9.68 2 2 14.20 15.28 15.26 14.87 14.63 14.45 14.11 14.14 13.93 13.73 13.63 13.43 13.21 12.90 2 12.25 2 2 14.17 2 15.04 15.47 15.68 15.80 15.23 15.53 14.67 15.37 14.44 15.22 14.93 15.07 15.13 15.39 15.11 15.57 14.74 15.01 15.01 14.96 15.05 15.03 14.34 14.71 13.86 14.37 13.26 13.74 3 12.78 3 12.29 3 4 15.32 3 14.76 3 13.73 14.78 14.72 13.96 12.00 11.96 11.72 12.13 12.14 11.24 13.06 13.35 12.56 14.47 14.27 13.58 13.73 13.47 12.89 13.95 13.64 13.09 13.29 13.02 12.61 14.00 13.79 12.69 12.90 13.00 12.15 10.34 10.80 9.93 10.40 10.86 9.63 9.24 9.21 8.60 8.76 8.72 8.42 3 14.077 13.873 11.269 10.926 12.412 13.780 12.493 12.821 12.148 12.108 11.914 9.006 8.196 7.750 8.042 336 341 316 447 27 158 26693 26526 26 125 30914 26595 22574 25,814 22758 25,460 27986 28,289 28449 27,217 28389 27,413 31 098 28,586 27415 26,792 29608 28,272 28988 26848 27680 28,650 do 26836 27370 26656 26888 27 150 27462 28684 29 197 29737 27514 27579 28268 28062 do do ... do do . 11610 5,327 2621 4559 12430 5,287 2571 4,279 13264 4,089 2517 4,142 11775 4,433 3326 4385 12431 4,857 2695 4254 12519 5,002 2631 4536 12790 5,343 3010 4618 12765 6135 2902 4449 13460 5,700 2887 4762 12485 4,607 2711 4,785 12499 4685 2904 4396 12750 4894 3092 4684 13322 4427 2897 4 431 do.... do do .. 7,490 11753 475 8,073 11379 479 7,352 11592 508 7,474 11070 434 7,283 11730 364 7,183 12 143 411 7,871 12416 544 8,429 12528 478 8,182 13361 459 7,332 12551 441 7,112 12497 581 7546 12464 452 7,970 12340 476 . . . do ... 25834 26770 26,689 26,445 27,075 26,472 27,509 27,798 28,388 26,944 27,513 27,176 28,386 . do ... do . do ... do 11686 4 123 2*830 4455 11997 4825 2,795 4 405 12 104 4503 2886 4 480 11765 5030 2,637 4358 12,602 4550 2,830 4378 12,353 4329 2753 4365 12,694 4799 2,878 4437 12,778 5009 2,941 4381 13,560 4826 2849 4458 12,551 4412 2780 4488 12751 4827 2725 4505 12269 4779 2,746 4624 13,371 4820 2,929 4519 do.... do do.... 6,466 11429 353 7,509 11358 404 7,284 11 533 365 7,595 11 266 460 7,339 11885 408 7,211 11836 396 7,638 11917 493 7,470 11 991 408 7527 12854 392 7,271 11 939 378 7,514 12354 440 7,041 12254 442 8,048 12232 480 Discount rate (N.Y.F.R. Bank) @@ 11.77 percent- Federal intermediate credit bank loans do.... Home mortgage rates (conventional 1st mortgages): New home purchase (U.S. avg.) Existing home purchase (U.S. avg.) percentdo.... 12.22 Open market rates, New York City: Bankers' acceptances, 90 days do.... Commercial paper, 6-month $ do.... Finance co. paper placed directly, 6-mo @ do.... Yield on U.S. Government securities (taxable): 3-month bills (rate on new issue) percent. 14.62 12.58 11.28 3 11. 506 9.35 6 12.48 CONSUMER INSTALLMENT CREDIT Total extended and liquidated: Unadjusted: Extended Liquidated . mil $ do Seasonally adjusted: Extended total # By major holder: Commercial banks Finance companies Credit unions Retailers By major credit type: Automobile Revolving Mobile home Liquidated total # By major holder: Commercial banks Finance companies Credit unions Retailers By major credit type: Automobile Revolving Mobile home Total outstanding, end of year or month # By major holder: Commercial banks Finance companies Credit unions Retailers By major credit type: Automobile . Revolving Mobile home ... 306 076 304 628 do.... 313,472 333,375 328,652 329,053 333,375 330,135 327,435 327,131 328,363 329,338 331,851 332,471 333,808 335,948 334,871 do . do.... do do.... 147 013 76,756 44041 28,448 149,300 146 889 146 687 149 300 148 162 146 922 146,454 146,616 146 147 146 775 146 745 147 275 148 280 147 926 89,818 89,583 89,956 89,818 88,925 89009 89,591 90,674 91,958 93009 93,353 93,207 93,357 92,541 45954 46 416 46092 45954 45907 45586 45632 45450 45472 45882 45698 46,154 46846 46645 29,551 26,922 27,510 29,551 28,179 27013 26,530 26,537 26,536 26,645 26,710 26,751 26,829 27,046 do do.... do 116 838 58,352 17322 126 431 126 344 126 385 126 431 125 525 125 294 125 559 126 201 127 220 128 415 128 359 128 281 129 085 128 619 63,049 58451 58923 63,049 61433 59514 58,491 58,641 58,647 59,302 59,824 60,475 60,932 60,811 18486 18300 18380 18486 18397 18343 18363 18402 18479 18543 18601 18741 18778 18 814 FEDERAL GOVERNMENT FINANCE Badge t receipts and outlays: Receipts (net) Outlays (net) Budget surplus or deficit ( —) Budget financing total Borrowing from the public Reduction in cash balances Gross amount of debt outstanding ... Held by the public mil $ 1517,112 '599,272 45467 44317 57407 '576 675 '657 204 63573 54959 76875 do do.... '-59,563 '-57,932 -18,105 -10,642 -19,468 do '59 563 . . . do. . '70,515 do '-10 952 Outlays total # Agriculture Department Defense Department, military Health and Human Services Department § Treasury Department National Aeronautics and Space Adm Veterans Administration '599 272 '285,917 '61 137 45467 22,555 1265 44 317 21,775 745 57407 25,770 10220 55269 32,646 2473 43042 45291 21,007 13,391 1 293 6910 75777 41,672 7,342 36753 9,576 1,202 66353 32,273 10589 44675 23,987 601 44924 20,867 422 59694 32,592 6,146 '182,720 '69 499 15,369 6278 15795 6002 14641 6777 14,575 5574 15 109 5633 18752 6238 21,593 5 170 20,483 5493 17572 5918 14874 5214 17961 5674 15,608 5348 do '576 675 do '24 555 do.... '132,840 '657 204 '26 030 '156,035 63573 3 146 14351 54959 3072 13889 76875 4793 15880 45930 4573 13,783 57822 2984 14239 63546 4394 16042 66073 2484 16013 55683 1362 14,826 59629 64506 1 526 2668 16041 16329 59628 2 184 15011 61 403 3*026 16447 mil. $.. '194,691 do '76691 do.... '4,850 do.. '21 135 '230,304 '92 633 '5,421 '22 904 21,249 8268 658 3010 19,770 8204 '517 851 33,866 13277 551 3214 7,319 7935 443 760 20,679 8 164 493 1908 21,628 7598 524 2269 21,898 9641 464 3236 19,883 8286 486 751 21,087 14 090 497 1 923 21,168 9 235 491 994 21,424 7 179 467 1924 GOLD AND SILVER: Gold: Monetary stock, U.S. (end of period) mil. $.. Price at New York $t dol. per troy oz.. Silver: Price at New York $$ dol. per troy oz.. See footnotes at end of tables. '57 932 518 749 '79,329 10374 '-21 397 8375 12522 20516 -8 109 14993 9,783 10,693 10972 14,274 4300 1 550 6242 -17 892 . . . do . '914317 '1,003,941 1011111 1 019 324 1 034 716 1 043,817 1 053 325 839 837 do '715 105 '794 434 804 808 815 780 830 055 850 504 Budget receipts by source and outlays by agency: Receipts (net) total mil $ '517 112 Individual income taxes (net) do.... '244,069 Corporation income taxes (net) . . do '64 600 Social insurance taxes and contributions (net) mil. $.. '157,803 Other do '50 640 75777 36,753 66353 44675 44,924 59694 66073 55683 59629 64506 59628 61 403 9,704 -18,930 .6,724 -19,831 -14,704 -1,708 4575 18773 -8711 21424 -4457 20962 16751 3,187 2,527 3,260 14,348 21,086 22,129 12,305 18,237 -17,554 -11 238 -7717 6614 -4335 6468 1 066 393 1,070,734 1,076,798 1,084 658 1,094,628 1,114,214 1,146,987 862 809 865 336 868 523 871 783 886 131 907 218 929 346 55,269 43042 45291 45930 57822 63546 9,339 -14,780 -18,255 11,160 612.509 20.632 22,499 8 643 435 3097 11,151 11,152 11,152 11,151 11,151 11,150 11,150 11,149 11,149 11,149 11,149 11,148 11,148 11,148 459.614 437.195 413.671 408.743 384.125 374.071 330.248 350.488 334.403 314.982 340.102 365.952 435.564 421.755 414.993 10.518 9.251 8.547 8.432 8.030 8.268 7.213 7.311 6.674 5.578 6.497 7.136 8.725 9.458 9.892 S-15 SURVEY OF CURRENT BUSINESS December 1982 Unless otherwise stated in footnotes below, data through 1978 and descriptive notes are as shown in the 1979 edition of BUSINESS STATISTICS 1980 1981 Oct. Annual 1982 1981 Nov. Dec. Jan. Feb. Mar. Apr. May June July Aug. Sept. Oct. Nov. FINANCE—Continued MONETARY STATISTICS Currency in circulation (end of period) bil. $.. Money stock measures and components (averages of daily figures): t Measures (not seasonally adjusted): $ Ml bil. $.. M2 do M3 do.... L (M3 plus other liquid assets) do.... Components (not seasonally adjusted): Currency Demand deposits Other checkable deposits $$ Overnight RP's and Eurodollars * Money market mutual funds Savings deposits Small time deposits @ Large time deposits @ do do.... do.... do.... do.... do do do . . Measures (seasonally adjusted): $ Ml M2 M3 L (M3 plus other liquid assets) do do do do Components (seasonally adjusted): Currency Demand deposits Savings deposits Small time deposits @ Large time deposits @ do.... do do... do do 137.2 401.4 1 591 7 1,873.0 2,267.6 111 7 263.9 21.8 30.0 55.3 4040 7064 236.3 145.6 138.8 142.7 145.6 434.5 4397 4296 1 747 1 17933 18096 2,089.9 2,152.6 2,175.6 2,519.3 2,598.5 26285 '451 2 18294 2,199.9 26538 1198 2399 65.6 38.7 110.3 361 6 8129 2864 1229 2375 75.2 36.9 1449 3422 851 9 3018 140.5 142.6 140.5 144.0 146.5 148.2 148.1 149.4 1300 229.3 89.8 44.5 180.0 346 1 920 2 3337 432 9 436 4 1440 9 451 4 451 3 448 6 447 3 448 3 452 4 451 5 1 7895 18099 1 8227 1 841 3 1 848 0 18652 18807 18975 19079 19234 2 151 i 2 174 7 2 188 1 2 204 3 2 215 0 2 235 8 2 258 1 2 279 3 2 296 0 2 320 2 26000 26293 26428 2 667 9 2 690 5 r2 717 1 r2 744 0 r2 774 1 r2 799 2 r2 831 6 455 2 19463 2 355 9 2 857 7 121 3 2357 3396 8498 3022 1218 2357 3409 8568 3006 1254 2433 78.4 38.1 151.2 3430 851 7 3054 123 1 2364 3436 854 7 3003 150.1 4505 4540 4540 4605 r470 1 4534 440 0 4555 445 1 4785 4372 1 849 2 1 8429 1 861 9 1 887 9 18889 19064 19248 19389 r 19507 1 917 7 1 986 7 2,217.2 2,216.0 r 2,237.4 r 2,266.1 r 2,269.3 r 2,290.0 r 2,314.1 2,342.5 2,356.2 r2'382.9 2,400.9 26823 26984 2 723 1 2 754 5 2 767 3 2 794.4 2,820.1 2,842.9 1298 2315 87.9 43.4 171.3 3483 914 1 3283 121 2 2366 72.4 36.2 137.3 3439 8476 2998 149.2 1233 2436 82.5 43.2 1549 3468 8575 3076 1238 239 3 3488 852 3 3026 1230 2285 81.5 42.9 1560 3445 868 5 3142 1238 2282 83.8 43.0 1592 346 1 879 6 3174 1246 234 5 3486 859 4 308 0 125 1 233 o 3507 869 9 3126 1256 236 1 89.5 40.4 1619 348 1 888 1 3179 1263 233 0 3505 881 6 3172 1272 2283 85.4 42.8 1643 3474 895 3 3203 1274 232 7 3509 894 1 3216 1283 2304 87.2 43.1 168.6 3479 902 3 3239 1284 231 0 3499 900 9 3283 1288 230 6 3440 919 7 3358 1295 231 1 3420 930 6 3396 1302 2325 93.2 43.3 181.9 3474 r 9240 r 3357 r 1312 237 1 97.3 46.3 183.4 r 3570 r 921 6 r 3403 1327 240 1 101.4 47.9 1858 3636 917 7 341 6 4605 r468 4 475 0 1 954 4 r1 967 7 1 986 9 2 363 5 2 381 6 2 399 9 r 1305 2326 3424 9326 3393 1312 r 236 2 r 3526 r 923 8 r 3430 1316 238 2 3622 9229 3404 r 7 r 9 031 3,354 PROFITS AND DIVIDENDS (QTRLY.) Manufacturing corps. (Fed. Trade Comm.): Net profit after taxes all industries Food and kindred products Textile mill products Paper and allied products Chemicals and allied products mil $ do do.... do.... do.... 92579 8222 977 2,789 11,578 101 302 9 109 1,157 3,110 12,973 22856 2446 198 829 2985 18 999 2 120 78 418 2900 20028 2079 146 436 2764 17 828 2031 258 408 2451 Petroleum and coal products do.... Stone, clay, and glass products do Primary nonferrous metal do. . Primary iron and steel do.... Fabricated metal products (except ordnance, machinery, and transport, equip.) mil. $.. 25,133 1833 2,768 2,334 23,733 1627 2 124 3,507 5464 267 369 5 4935 167 82 25 4 146 205 44 -430 5024 329 -41 -893 3,967 4,235 760 Machinery (except electrical) Elec. machinery, equip., and supplies do.... do.... 11,459 7,114 12,580 7,872 3492 1,745 Transportation equipment (except motor vehicles, etc.) mil. $.. Motor vehicles and equipment do.... All other manufacturing industries do.... 3084 -3,424 14,745 3722 -209 15,762 707 -139 3,728 36495 40317 10763 Dividends paid (cash), all industries SECURITIES ISSUED Securities and Exchange Commission: Estimated gross proceeds total By type of security: Bonds and notes, corporate do.... mil $ 425 820 786 2657 1 781 2454 1801 1 687 1,688 645 1 2,738 693 1072 3,798 720 -18 3,759 10 160 10 418 10076 r 81 111 75870 5 363 9731 5 969 3 283 5 838 6 601 4 610 5 949 5 791 6 023 9 225 do.... 56,265 45,606 3839 7 112 3948 1 607 4074 4653 2573 3405 3066 3648 6851 do.... do 18,996 3635 25,108 1 788 1 382 141 2039 59 1,935 80 1 477 199 1430 185 1 750 198 1875 172 1527 887 2559 67 1482 644 1650 622 mil. $.. do .. do do . 78,896 24398 4893 15940 72,503 17,397 9 113 14494 5,362 238 703 1331 9,210 2462 797 1 246 5,963 1 212 723 1 176 3283 727 724 962 5689 479 479 1 088 6601 1 142 919 2219 4610 599 636 1684 5820 755 360 1747 5692 417 1 800 941 5774 1 494 688 728 9 121 2223 389 1524 Transportation Communication Financial and real estate do.... do.... do.... 3727 7401 15638 2779 6,158 17,197 74 91 2563 120 411 3254 105 201 1 894 68 66 506 76 366 2 994 255 87 1 523 41 20 1 358 108 457 1 719 131 191 1 906 15 170 2259 464 622 2862 State and municipal issues (Bond Buyer): Long-term Short-term do do.... 47 133 26,485 46 134 34,443 3625 3,543 5 035 2,902 5 072 3,138 3 780 2,525 3 459 2,708 5 531 2,950 6 692 3,109 5268 5,919 5 667 4,848 5 822 3,302 6 635 4,766 mil. $. 14721 14 411 13926 14 124 14 411 13 441 13 023 12 095 12 202 12 237 11 783 11 729 11 396 11 208 11 728 do do 2 105 6'070 3 515 7 150 2 990 6 100 3 290 6 865 3 515 7 150 3 455 6 575 3 755 6 595 3 895 6 510 4 145 6 270 4 175 6 355 4 215 6 345 4 410 6 730 4 470 7*550 4 990 7 475 5 520 8*120 414 57.4 337 432 300 374 337 410 332 37 1 309 358 31 1 370 329 373 333 382 340 399 32 1 383 328 394 357 432 380 456 41 7 497 442 487 5,190.30 5,733.07 567.54 611.97 673.76 410.47 388.34 512.80 509.13 510.05 499.02 463.04 724.38 699.80 875.39 770.43 Common stock Preferred stock By type of issuer: Corporate, total # Manufacturing Extractive (mining) Public utility r 6 381 3,146 959 3,357 SECURITY MARKETS Stock Market Customer Financing Margin credit at brokers, end of year or month Free credit balances at brokers: Margin accounts Cash accounts Bonds Prices: Standard & Poor's Corporation: High grade corporate: Composite § dol. per $100 bond Domestic municipal (15 bonds) do... Sales: New York Stock Exchange, exclusive of some stopped sales, face value, total mil. $.. See footnotes at end of tables. SURVEY OF CURRENT BUSINESS S-16 Unless otherwise stated in footnotes below, data through 1978 and descriptive notes are as shown in the 1979 edition of BUSINESS STATISTICS 1980 1981 1982 1981 Nov. Oct. Annual December 1982 Dec. Jan. Feb. Mar. Apr. May June July Aug. Sept. Oct. Nov. FINANCE—Continued Bonds— Continued Yields: Domestic corporate (Moody 's) By rating: Aaa Aa A Baa . . percent.. 12.75 15.06 16.20 15.35 15.38 16.05 16.13 15.68 15.53 15.34 15.77 15.70 15.06 14.34 13.54 13.08 do do.... do.... do 1194 12.50 12.89 1367 14 17 14.75 15.29 16.04 1540 15.82 16.47 17 11 1422 14.97 15.82 1639 1423 1500 15.75 1655 15 18 15.75 16.19 17 10 1527 1572 16.35 17 18 1458 15.21 16.12 1682 1446 14.90 15.95 16.78 1426 14.77 15.70 1664 1481 15.26 16.07 16.92 14 61 15.21 16.20 1680 1371 14.48 15.70 1632 1294 13.72 15.07 1563 12 12 12.97 14.34 14.73 11 68 1251 1381 1430 do.... do do.... 12.35 13 15 11.48 14.50 1562 13.22 15.64 1676 13.88 15.19 1550 13.92 15.00 1577 13.84 15.37 1673 14.10 15.53 1672 14.08 15.29 1607 14.00 15.22 1582 14.03 15.08 1560 13.93 15.35 16.18 13.99 15.37 16.04 14.05 14.88 1522 13.90 14.11 1456 13.69 13.19 13.88 13.08 12.57 1358 12.74 Domestic municipal: Bond Buyer (20 bonds) Standard & Poor's Corp. (15 bonds) do do.... 873 8.51 11 56 11.23 1299 12.67 12 18 11.71 1330 12.77 13 15 13.16 1270 12.81 13 13 12.72 11 97 12.45 12 13 11.99 1258 12.42 1197 12.11 1074 11.12 1048 10.61 1005 9.59 1023 9.97 U.S. Treasury bonds, taxable $ do.... 10.81 12.87 14.13 12.68 12.88 13.73 13.63 12.98 12.84 12.67 13.32 12.97 12.15 11.48 10.51 10.18 32823 891 41 11043 307.23 36461 93292 10858 398.56 337.10 85324 10377 368.56 346.44 86044 110.42 383.56 351.31 87828 11073 387.11 33399 85341 10568 353.99 32754 833 15 10598 345.93 31894 81233 10747 328.85 332.69 84496 112 17 344.68 333.11 84672 114.49 340.90 31366 80437 10841 314.58 316.31 818 41 10628 316.68 321.30 83211 10964 318.34 356.89 91727 116.18 368.32 383.92 401 57 98871 1 027 76 11997 119 34 402.70 436.43 1941-43-10.. do.... do do.... 118.78 134.52 131 37 86.88 128.04 144.24 13903 100.67 119.80 133.98 12398 96.89 122.92 136.76 12580 98.38 123.79 138.35 12823 98.37 117.28 131.08 121 78 95.43 114.50 127.56 12053 97.32 110.84 122.85 11243 97.00 116.31 129.19 11732 102.91 116.35 129.68 115.84 103.81 109.70 122.61 105.97 100.92 109.38 122.49 106.34 102.66 109.65 122.29 10634 102.46 122.43 137.09 119.61 115.51 132.66 148.11 131.64 126.43 138.10 153.90 13935 133.27 do.... 1970—10 1941-43-10.. 50.54 18.52 75.57 51.87 2326 93.09 51.41 21.01 83.83 54.52 21 92 89.68 53.53 22.21 90.84 51.81 2005 80.86 51.39 1895 75.99 52.33 17.68 67.73 54.25 18.71 71.20 54.88 18.50 71.16 52.13 17.21 65.49 51.87 17.22 63.15 53.34 1753 64.71 56.48 20.27 77.20 59.41 22.19 86.27 60.08 2352 88.27 Financial (40 Stocks) 1970=10.. NewYorkCity banks(6 Stocks) 1941-43=10.. Banks outside N.Y.C. (10 Stocks) do.... Property -Casualty Insurance (6 Stocks) do.... 12.50 44.00 102.90 127.06 14.44 52.45 117.82 141.29 14.40 53.75 113.93 141.22 15.23 56.28 119.20 152.40 14.76 54.01 112.58 149.00 13.95 51.33 102.51 141.08 14.19 53.85 100.48 146.08 14.15 53.77 96.11 147.01 14.59 55.93 97.40 149.14 13.81 52.27 93.29 142.45 12.45 48.10 86.01 126.05 12.07 45.36 81.10 120.61 12.38 47.46 82.06 118.41 13.72 50.50 86.79 134.47 15.97 64.21 106.48 156.02 17.46 68.70 114.55 166.54 New York Stock Exchange common stock indexes: Composite 12/31/65-50.. Industrial do Transportation do.... Utility do Finance . . . . . do 68.10 7870 60.61 3735 6425 74.02 8544 72.61 3891 7352 69.40 7893 65.65 3887 7256 71.49 8086 6768 4073 7647 71.81 81 70 68.27 4022 74.74 67.91 7685 6204 3930 7099 66.16 74 78 5909 3832 7050 63.86 71 51 55.19 3857 69.08 66.97 7559 57.91 3920 71.44 67.07 7597 56.84 3940 69.16 63.10 7159 53.07 3734 63 19 62.82 7137 53.40 3720 61.59 62.91 7098 53.98 38 19 62.84 70.21 80.08 61.39 4036 69.66 76.10 8667 66.64 4267 80.59 79.75 9076 7192 4346 8866 By group: Industrials Public utilities Railroads . . . . Stocks Prices: Dow-Jones averages (65 stocks) Industrial (30 stocks) Public utility (15 stocks) Transportation (20 stocks) Standard & Poor's Corporation: § Combined index (500 Stocks) Industrial, total (400 Stocks) # Capital goods (111 Stocks) Consumer goods (189 Stocks) Utilities (40 Stocks) Transportation (20 Stocks) Railroads (10 Stocks) . Yields (Standard & Poor's Corp.): Composite (500 stocks) Industrials (400 stocks) Utilities (40 stocks) Transportation (20 stocks) Financial (40 stocks) percent.. do do.... do do.... 5.26 495 9.77 404 5.75 5.20 490 10.15 340 5.41 5.65 535 10.46 3.80 5.47 5.54 528 9.92 367 5.19 5.57 5.28 10.22 3.76 5.48 5.95 564 10.74 420 5.89 6.06 575 10.77 438 5.79 6.28 599 10.61 472 5.92 5.99 570 10.27 447 5.73 5.97 565 10.27 447 6.07 6.28 590 10.87 4.85 6.67 6.31 5.91 11.02 4.92 6.97 6.32 5.94 10.77 495 6.79 5.63 5.26 10.22 4 17 6.12 5.12 478 9.73 375 5.22 Preferred stocks, 10 high-grade do.... 10.60 12.36 13.09 12.76 12.83 13.19 13.20 12.97 12.90 12.58 12.96 13.24 12.78 12.41 11.71 11 18 mil. $.. millions 475,850 15486 490,688 15910 39,673 1380 37,495 1303 38,692 33,445 35,953 1 365 1 222 1 313 44,157 39,900 37,350 35,174 1 713 1 533 1 430 1,414 41,292 1577 47,117 1902 mil $ millions.. 397 670 12,390 415913 12,843 33826 1,129 32029 1,062 32701 1,092 28301 987 30268 1,071 38232 1,411 35580 1,304 40659 1,555 11 352 11854 996 988 959 968 972 1 145 1673 1 548 2069 1857 Sales: Total on all registered exchanges (SEC): Market value Shares sold .. On New York Stock Exchange: Market value Shares sold (cleared or settled) New York Stock Exchange: Exclusive of odd-lot and stopped stock (sales effected) sales millions Shares listed, N.Y. Stock Exchange, end of period: Market value, all listed shares bil. $.. Number of shares listed millions.. 1,242.80 33.709 1 270 33714 1,242 1 136 31913 1,167 1027 30420 1,169 1 111 1,143.79 1,134.19 1,181.82 1,143.79 1,115.82 1,053.75 1,036.85 1,081.87 1,039.18 1,017.45 38,298 37,874 38,144 38.298 38.408 38,572 38,588 38,738 38,594 38.894 993.56 1,106.56 1,120.26 1,244.38 1,291.94 39,064 39,070 39,177 39,262 39.400 FOREIGN TRADE OF THE UNITED STATES VALUE OF EXPORTS mil. $.. 220,704.9 '233,739.0 19,896.8 19,047.7 19,139.9 17,515.3 17,637.3 20,160.9 18,610.6 19,000.7 19,416.1 17,259.3 16,264.5 16,716.7 17,274.5 do.... 220,548.7 1 233,677.0 19,893.5 19,040.0 19,130.0 17,507.9 17,635.5 20,151.7 18,605.2 18,992.4 19,413.3 17,252.2 16,249.9 16,712.6 17,267.0 19 163 2 19 152 9 18 885 4 18 736 7 18 703 6 18 602 0 17 842 8 18 218.0 18 821 8 18 026 5 17 497 8 17 387.3 16,697 7 do . Exports (mdse.), incl. reexports, total @ Excl. Dept. of Defense shipments Seasonally adjusted By geographic regions: Africa Asia ' Australia and Oceania Europe Northern North America Southern North America . South America By leading countries: Africa: Egypt Republic of South Africa Asia; Australia and Oceania: Australia, including New Guinea Japan See footnotes at end of tables. do do do.... do.... . 9254 9444 7955 90604 1 11 097 4 60 168 3 '63 848 7 55826 52864 56288 545.2 589.2 4,875.7 1 16,435.8 582.4 71,371.4 69,714.7 6,040:2 5,720.0 5,912.5 do.... 35,399.0 '39,565.8 3,145.8 do. 21 337 7 '24 368 7 20706 do.... 17,376.8 1 17,732.1 1,423.0 do.... do.... do.... do.... 3,213.8 20024 1,408.5 936.3 10380 967 1 1001 7 9724 8506 5 1723 5 1948 5 752 2 52159 5545 1 57862 495.4 597.9 4716 6623 4426 461 4 5,545.1 5,605.7 6,328.8 5,753.1 5,711.4 5,639.7 693.7 681.9 720.1 57933 5 1868 4947 1 4700 4959 4458 4,743.1 4,562.0 4,857.0 2,841.7 2,463.8 2,593.5 3,346.8 3,066.1 3,189.7 2,943.2 2,667.7 2,634.8 2,838.1 1 8883 1 7034 1 665 1 1 791 3 1 7586 1 7308 1 8379 1 5145 1 328 1 15730 1,305.6 1 3186 1 163.0 1,376.6 1 258.2 1,323.2 1 437.0 1,334.4 13360 1 2785 '2,159.4 '2,911.7 177.6 266.9 140.7 222.0 142.8 215.9 172.6 2309 275.2 224.6 231.1 2067 383.1 237.4 293.6 2348 269.4 242.7 177.8 191.9 191.7 1827 191.4 1747 4,130.7 '5,297.5 20,790.0 '21,823.0 490.8 1,859.0 464.1 1,940.1 486.6 2,064.6 391.2 1,785.8 370.5 1,705.6 490.6 1.862.2 402.4 1.574.8 411.0 1.710.2 491.1 1,828.8 386.3 1.776.3 351.9 1,732.2 380.4 1,568.4 1,873.6 2,463.5 S-17 SURVEY OF CURRENT BUSINESS December 1982 Unless otherwise stated in footnotes below, data through 1978 and descriptive notes are as shown in the 1979 edition of BUSINESS STATISTICS 1980 1981 Annual 1982 1981 Oct. Nov. Dec. Jan. Feb. Mar. Apr. May June July Aug. Sept. Oct. FOREIGN TRADE OF THE UNITED STATES—Continued VALUE OF EXPORTS—Continued Exports (mdse.), incl. reexports—Continued Europe: France mil.$ . German Democratic Republic (formerly E Germany) mil $ Federal Republic of Germany (formerly W Germany) mil $ Italy Union of Soviet Socialist Republics United Kingdom North and South America: Canada . Latin American republics, total # Brazil Mexico Venezuela . . . Exports of U.S. merchandise, total § Excluding military grant-aid Agricultural products, total Nonagricultural products, total By commodity groups and principal commodities: Food and live animals # Beverages and tobacco Crude materials, inedible, exc. fuels # Mineral fuels, lubricants, etc. # . Oils and fats, animal and vegetable Chemicals Manufactured goods # Machinery and transport equipment, total Machinery total # . . Transport equipment, total Motor vehicles and parts 1 7,485 4 7 340 5 5552 5739 5627 5234 5635 7288 5929 6038 6653 5164 6015 '2957 249 177 164 499 266 437 93 220 220 55 08 19 10 276 7 9002 8464 7989 8225 7896 9696 8047 8216 7649 7230 7036 6549 do do.... do.... 5 511 1 '5 360 0 1,512.8 '2,431.3 12,693.6 1 12,439.2 390 4 280.8 9268 4590 239.9 908.3 5480 358.3 9406 4136 398.0 912.1 3975 450.5 817.5 3790 421.3 9910 3952 325.1 9927 446 1 265.7 913.3 4994 134.4 928.1 3288 71.8 885.2 3080 55.1 8055 3494 77.1 9356 do 35 395 3 '39 564 3 3 1457 32136 2841 7 24635 25935 33462 3 065 8 3 1895 29427 26675 26345 28379 2,933.4 2520 1,380.8 4672 2,757.4 3062 1,187.8 3644 2,537.2 2604 1,123.9 3809 2,926.9 2898 1,307.2 501 7 2,699.6 2749 1,173.1 4150 4786 10 959 8 1 do.... 36,030.4 '38,950.1 . do . 4 343.5 '3 798.2 do.... 15,144.6 1 17,788.7 4,572.8 '5,444 9 . do . do.... do do.... do.... 216,592.2 216 436 0 41,255.9 175,336.3 3,241.7 2577 1,542.2 4393 3,089.2 256.5 1,402.6 5088 '228,960.8 19,466.4 18,646.0 '228 898 7 19 463 1 18 638 3 '43,338.5 3,925.6 3,775.4 '185,622.6 15 540 9 14 870 6 23353 23153 20649 2368 375 1 208 9 1,930.7 1,811.4 1,724.7 10977 1 1062 10485 121.5 158.4 102.8 16655 16236 17154 1 594.2 1 662.1 18584 1 4463 14569 13887 16338 mil. $.. 84,552.9 do 55 789 7 do.... 28,838.8 do 14 589 6 75294 5 1677 2,367.6 1 267 3 79312 50122 2,921.0 1 124 8 8,001 8 54575 2,545.0 1 325 5 2,387.7 2,562.2 318 1 3060 795.2 1,042.6 4608 4025 18,631.1 17,129.0 17,274.6 19,685.4 18,208.3 18,589.3 18,980.3 16,870.3 15,943.9 15,980.7 18 621 1 17 121 6 17 272 8 19 676 2 18 202 8 18 581 0 18 977 5 16 863 2 15 929 3 15 976 6 3,596.5 3,254.7 3,499.9 3,702.5 3,481.8 3,403.4 3,129.1 2,446.0 2,492.4 2,388.1 15 034 6 13 874 3 13 774.7 15 982 9 14 726 5 15 185 9 15 851 2 14 424 3 13 451 5 13 592.5 mil $ 27 743 7 '30 290 8 2691 1 do 26630 '29147 304 8 do.... 23,790.7 '20,992.4 1,831.5 mil $ 79823 '102790 1 131 1 do.... 1,946.3 '1,750.3 131.9 do . 20 740.2 '21 187 1 1 7982 do 22 254 6 '20 632 5 1651 7 '95 717.2 '62 945 5 '32,790.9 '162140 2,782.8 2,924.3 2,588.5 334.3 361.2 319 1 1,201.1 1,202.6 1,005.4 5018 4940 4406 572 1 7 126.7 48498 2,281.4 10237 2 1885 2500 1,782.6 10509 167.3 69794 47190 2,261.0 1 1239 24296 2272 1 2 1614 2 172 3 300 2 224 2 262 5 221 3 1,837.3 1,789.3 1,839.6 1,598.7 12463 1 1902 1 143 5 10904 141.7 132.4 124.3 102.2 83576 5523 1 2,835.1 1 4893 1 688.2 1 722.4 18625 14396 15356 15910 7 547.7 49677 2,580.3 1 3956 7,782.5 8,175.7 5203 1 55232 2,580.0 2,652.8 14362 13255 1 7223 18742 211 6 167 0 1,350.5 1,272.0 9968 9549 125.6 157.3 16486 13485 1691 6 193 1 1,328.1 10733 146.8 18166 3503 1,515.4 1206 1 105.0 1 7150 1 548.7 1,487.8 1 274 2 1321 7 1 3907 7,597 3 67386 5083 1 46643 2,515.6 2,081.5 10808 1 029 5 6 756.3 7,136.5 4928 1 1*828.8 10407 VALUE OF IMPORTS do 240 834 3 '261 304 9 23 555 1 22 555 0 19 663 4 2226060 18 264 6 20 823 4 17 882 1 20 804 5 218109 19 763 2 22 867 8 20 187 8 21 2193 do.... 23 234 4 22 521 5 19 516 3 222 828 8 19 090 4 20 348 7 17 386 8 20 558 1 21 309 6 19*558 8 23 494 0 20 644 0 21 096 0 General imports total Seasonally adjusted By geographic regions: Africa . • Asia Australia and Oceania Europe . . . Northern North America Southern North America South America By leading countries: Africa: Egypt Republic of South Africa do 32 250 9 '27 070 6 16696 do.... 78 848.0 '92 032 6 9 1027 do 33919 '3 352 7 3085 do 47 849 7 '53 409 7 46542 do 41 470 9 '46 432 0 do.... 22,656.9 '23,477.4 do 14 361 6 '155264 do.... do.... Asia; Australia and Oceania: Australia, including New Guinea.. . . mil $ Japan . . . . do Europe: France do German Democratic Republic (formerly E Germany) mil $ Federal Republic of Germany (formerly W Germany) mil $ Italy do Union of Soviet Socialist Republics do.... United Kingdom do North and South America: Canada Latin American republics, total # Brazil Mexico Venezuela By commodity groups and principal commodities: Agricultural products total Nonagricultural products, total Food and live animals # Beverages and tobacco Crude materials, inedible, exc. fuels # Mineral fuels lubricants, etc Petroleum and products Oils and fats, animal and vegetable Chemicals . Manufactured goods # Machinery and transport equipment Machinery, total # Transport equipment Automobiles and parts See footnotes at end of tables. 458.4 3,320.5 '397.3 '2,445.3 25623 '25148 30 701 3 137612 1 17972 13673 86360 69614 241 1 2805 45707 4 4103 2 2 2 358 5 1 706 3 1 5006 8 466 5 63334 7310 1 22005 191 9 262 4 4 758 5 36747 4 4796 2 42598 4 1322 36060 23 508 5 35490 4 1588 2,155 7 18747 18263 21 860 6 18319 19675 1 4042 13027 1 211 3 1 452 5 9772 1 144 3 514 180.9 33 352.4 2383 1772 36989 33265 2 2 426 168.1 100.1 183.1 2 2354 1547 3 001 5 23 720 0 1528 27080 243 131.0 2 2 800 138.5 1 252 1 911 3 1 317 6 1695 1 1 467 7 1 262 7 5*9652 76846 7395 1 6987 1 9*061 3 6*9208 2889 299 2 *345 0 281 1 226 8 244 9 4 012 6 4 923 4 49070 43587 4 743 5 4 241 8 37378 40703 43995 34620 3 829 5 4 238 7 16602 18247 23095 18812 22103 2 1008 1 027 2 1 145 1 1 1829 1090 1 1 2103 1 141 9 327 141.1 2153 1626 3 586 6 2 790 4 465 138.6 90.7 147.5 22.4 144.6 2197 181 1 2155 3 759 4 3 1172 28879 23 159.0 85 184.4 203 1 2204 3 814 7 2904 2 4527 455 6 441 9 4795 5397 4428 4756 410 1 36 51 69 31 37 36 28 46 112 1 055 9 212087 4 5033 4992 2 184 80 9063 29817 8749 3944 220 7800 52470 '58514 4669 5996 534 1 439 '477 45 40 44 11 681 2 '11 3790 972 1 4313 1 '5 189 0 429 1 453.2 '347.5 317 9755 1 '128346 10852 9987 494 4 278 9547 5110 2 1 003 3 4927 180 1 Oil 3 944 8 4397 155 821 4 957 1 1 025 4 8729 1 221 1 10905 459.6 4593 4946 3794 4985 257 27.6 31.8 77 102 1 151 5 1 2104 1 1397 12176 1 0796 do .. 41 455 4 '46 413 8 42589 4 1322 36039 23 507 8 35476 4 1562 37357 40686 4398 1 34592 38284 4 236.3 do.... 29,851.2 '32,023.3 3,015.7 2,755.6 2,573.1 '2,759.9 2,376.0 2,678.5 2,222.5 2 624.6 3,011.3 25506 2884 1 27763 2335 4 do 37146 '4 474 5 313 2 374 8 411 8 4126 376 4 314 4 369 8 312 1 3437 346 8 391 9 do 12 519 5 '13 765 1 1 362 4 1 287 1 1 170 9 21 116 6 1 255 3 1 310 5 1 014 2 1 2383 1 5782 1 230 8 1 435 3 1 448 9 2 do 5*297 1 '5 566 0 281 4 2930 '3619 4670 3735 4366 6022 350 2 3992 3870 3124 355 2 mil $ 17 425 0 '17 003 4 do.... 223,409.2 '244,301.4 do 15 762 7 '15 237 6 do 27715 '3 138 3 do.... 10,495.9 '11,193.4 do 79 057 7 '81 4169 do 73 770 9 '75 577 3 do.... 533.4 '479.5 do 85827 '9 445 9 do do.... do.... do do.... 32 190 4 60,545.7 31 903.6 28 642 0 24,133.9 1 4280 1 247 7 1 367 9 21 306 8 1 140 3 1 396 1 1 284 0 1 327 2 1 339 4 1 106 9 1 352 1 1 290 3 1 445 6 22,107.4 21,305.4 18,285.2 221,343.0 17,173.6 19,419.5 16,610.8 19,456.3 20,476.2 18,614.7 21,519.8 18,885.8 1 295 4 1 132 7 1 2992 2120358 3163 2999 2389 2 2858 944.7 824.3 696.1 740.9 439 3 6643 7 6 613 2 5 4269 27 6 1537 6 1137 48543 26 830 8 2 414 404 353 428 8263 6913 27774 7182 '37 291 9 3455 1 32870 2 901 1 23 225 9 '69,627.2 6,606.6 6,452.6 5,711.3 226, 199.7 '38 212 2 38190 35867 29713 3 318 1 '314152 27875 28659 27400 22 881 6 '26*216.9 2,370.7 2*290.6 21296.2 22*436.4 948 4 1935 669.2 1 2706 1 1582 1 267 2 '284 1 *266 3 3212 689.7 703.2 771.6 4 167 4 5 107 2 50089 4 311 9 45232 45042 38628 37494 38.8 19.2 402 254 6677 8403 8729 7302 28309 29637 2454 4 32039 5,263.5 6,601.1 5,785.5 7,051.3 27844 32956 28985 35577 24791 33055 28870 34936 2,017.7 2*842.8 2*522.3 2,'977.3 1 2726 1 122 5 1 301 1 1 266 6 1 384 3 300 1 2924 251 3 3053 310 1 695.3 782.1 701.3 790.5 715.8 5 4266 5 942 7 6353 1 5200 6 5 946 5 50253 54549 59540 47414 32.2 31.8 46.6 43.1 24.4 6989 8270 8207 8976 8697 3091 3 6,929.7 3,702.3 32274 2,780.7 25014 5,646.5 3,108.7 25378 2,270.6 2941 1 6,700.7 3 867.0 28337 2,532.5 2581 1 26166 5,894.2 6,187.3 3419.1 2475 1 2*202.1 Nov. S-18 SURVEY OF CURRENT BUSINESS Unless otherwise stated in footnotes below, data through 1978 and descriptive notes are as shown in the 1979 edition of BUSINESS STATISTICS 1980 1981 Annual December 1982 1982 1981 Oct. Nov. Dec. Jan. Feb. Mar. Apr. May June July Aug. Sept. Oct. Nov. FOREIGN TRADE OF THE UNITED STATES—Continued Indexes Exports (U.S. mdse., excl. military grant-aid): Unit value 1977-100 Quantity do.. . Value do.... 138 1 1329 183.6 1 128.8 1 194.1 1528 1296 198.1 1530 124.0 189.7 1529 123.9 189.5 1562 111.6 174.2 1556 113.0 175.8 1548 129.4 200.2 1546 119.9 185.3 1543 122.5 189.1 1526 126.5 193.1 1535 111.8 171.6 1513 107 1 162.1 1508 1078 162.6 1516 113.3 171.8 General imports: Unit value Quantity Value 1614 102.6 1655 '1703 1 105.2 '179 1 1664 116.3 1936 1657 111.9 1853 167.4 96.5 1616 1707 109.1 1862 171.7 87.6 1504 170.4 100.7 171.5 169.6 86.8 1473 167.3 102.4 171.3 1659 108.3 1796 167.4 97.2 162.7 165 1 114.0 1883 164 1 101.3 1662 166.2 105.2 1747 29927 9,657 32880 9,856 37243 11,113 37240 10,237 37 178 10,299 37012 10,514 27342 11,465 28615 12.995 26025 11.010 27300 13,170 34464 13.875 25.16 63.0 3,094 25.82 64.0 3,153 20.12 54.9 2,583 • do do.... do '1508 Shipping Weight and Value Waterborne trade: Exports (incl. reexports): Shipping weight Value General imports: Shipping weight Value thous sh tons mil $ 401 172 118,835 1 406 796 *123 495 39812 10,871 36674 10429 37820 10,350 thous sh tons mil. $.. 487 936 164.924 J 464 1 40316 15,765 37298 14.517 31864 12,863 420 177,059 6 39 6 974 15,694 TRANSPORTATION AND COMMUNICATION TRANSPORTATION Air Carriers (Scheduled Service) Certificated route carriers: Passenger-miles (revenue) Passenger-load factor Ton-miles (revenue) total bil percent. mil Operating revenues (quarterly) # § Passenger revenues Cargo revenues Mail revenues Operating expenses (quarterly) § Net income after taxes (quarterly) § Domestic operations: Passenger-miles (revenue) Cargo ton-miles . Mail ton-miles Operating revenues (quarterly) § Operating expenses (quarterly) § Net income after taxes (quarterly) § International operations: Passenger-miles (revenue) Cargo ton-miles . . Mail ton-miles Operating revenues (quarterly) § Operating expenses (quarterly) § Net income after taxes (quarterly) § 254.18 59.0 32,487 248.39 58.5 31,886 mil. $.. do.... do do.... do.... do.... 33,728 28,049 2 2,432 623 2 33,949 2 -124 36,502 30,579 2,480 675 2 36,922 533 bil mil do.... 200.09 3,274 944 198.13 3,338 994 mil. $.. do do.... 26,404 26,409 2 156 bil mil.. do 54.09 2,458 392 50.28 2,337 376 mil $ do.... do 2 6,543 2 2 6,390 2 2 6,766 -270 20.16 57.7 2,673 18.06 54.7 2,419 20.38 57.2 2,651 19.62 55.5 2,457 17.65 55.3 2,280 14.78 271 76 2 16.70 264 111 15.92 225 79 14.80 230 77 6,999 7389 -322 29,014 29,277 2 -360 4.19 232 32 3.29 229 36 3.68 194 43 21.52 58.4 2,725 18.29 269 87 3.70 162 29 2.85 180 29 3.42 208 33 23.67 63.6 2,910 9,222 7,767 602 171 9063 43 17.76 249 85 17.26 257 82 18.97 250 77 19.79 254 79 r5 20.23 258 77 r5 15.61 254 80 5 14.41 7,350 7,231 31 6,832 7,373 -501 3.83 191 32 4.26 202 32 1,366 1,444 1501 1,625 -59 6,595 -186 21.58 61.2 2,715 8415 7,039 556 172 9046 -689 8776 7,238 651 192 9,284 -386 15.97 308 85 21.71 60.7 2,768 4.70 185 31 5.36 214 32 5.59 203 32 4.51 205 31 584 631 636 678 131.9 133.8 133.9 131.5 1 601 1,574 13 -94 Urban Transit Systems Passengers carried total mil 693 643 603 623 720 650 636 645 8,228 7,948 100 15,432 100 16,489 100 4,247 100 3587 100 3,910 304 199 10 48 58 189 182 45 39 41 148.7 147.1 28,258 26,350 439 30,904 28,925 535 7,697 7 191 143 7,190 6,707 142 7,222 6,612 do. do.... . . do. 26,351 1,342 3 1,130 28,583 1,362 3 2,055 7,113 192 580 6,821 204 216 6,821 265 340 6,500 bil.. do.... 1969=100.. 920.6 918.6 284.5 911.7 911.9 327.6 337.9 337"9 224.9 225.1 337.8 350.4 350.6 207.4 207.4 350.5 Hotels and motor-hotels: Restaurant sales index.... same month 1967=100.. Hotels: Average room sale fl dollars.. Rooms occupied % of total.. Motor-hotels: Average room sale U dollarsRooms occupied % of total- 182 49.48 65 35.30 66 194 56.39 68 38.31 67 215 59.56 74 38.85 68 189 58.72 64 38.57 59 195 57.95 50 38.21 50 160 60.33 57 40.22 56 185 63.37 45 40.97 56 198 62.00 68 41.30 66 2 9,010 2 9,971 11,252 2 9,285 3,020 8,905 9,978 11,976 9,933 3,222 196 172 1,965 2,208 2,681 2,339 210 208 59.081 62.237 5.032 2.719 2.023 1.788 651 Motor Carriers Carriers of property, large, class I, qtrly.: @ Number of reporting carriers Operating revenues total mil $ Net income, after extraordinary and prior period charges and credits mil $ Tonnage hauled (revenue), common and contract carrier service mil tons Freight carried—volume indexes, class I and II intercity truck tonnage (ATA): Common and contract carriers of property (qtrly ) . . . average same period 1967 — 100 Common carriers of general freight, seas adj 1967-100 Class I Railroads t Financial operations, qtrly. (AAR), excl. Amtrak: Operating revenues, total # mil. $.. Freight . . . do Passenger excl Amtrak do Operating expenses Net railway operating income Ordinary income Traffic: Ton-miles of freight (net), total, qtrly Revenue ton-miles, qtrly. (AAR) Price index for railroad freight .. . 139.7 134.9 126.2 127.9 131.8 128.0 131.4 132.9 132.9 208.0 2080 351.5 r 351.2 351.4 352.0 4 729 4 830 4 883 4 4 772 4 893 4 865 4 260 2,051 2,192 2,381 1,931 271 705 371 496 382 2.238 2.804 3.621 5.323 8.192 11.114 352.0 !90.9 351.9 10.608 7.045 Travel Foreign travel: U.S. citizens: Arrivals (quarterly) Departures (quarterly) Aliens: Arrivals (quarterly) Departures (quarterly) Passports issued National narks, visits See footnotes at end of tables. thous.. do.... do.... do.... do.... do.... 2 732 395 4 76.0 351.9 r 124.8 4 58.6 351.9 r S-19 SURVEY OF CURRENT BUSINESS December 1982 Unless otherwise stated in footnotes below, data through 1978 and descriptive notes are as shown in the 1979 edition of BUSINESS STATISTICS 1980 Nov. Oct. Annual 1982 1981 1981 Dec. Jan. Mar. Feb. Apr. May June July Aug. Sept. Nov. Oct. TRANSPORTATION AND COMMUNICATION—Continued COMMUNICATION Telephone carriers: Operating revenues # Station revenues Tolls message Operating expenses (excluding taxes) Net operating income (after taxes) Phones in service, end of period Telegraph carriers: Domestic: Operating revenues .. Operating expenses Net operating revenues (before taxes) Overseas, total: Operating revenues . . Operating expenses Net operating revenues (before taxes) mil $ do.... do do.... do mil . 56738 24,333 22983 37,983 10 194 1599 66498 28,117 26505 44594 11 903 1649 5838 2,466 2354 3820 1 111 1653 5 806 2463 2264 4*060 950 165 1 5 978 2503 2394 4505 865 1649 5 911 2,508 2324 3924 1 041 1645 5 802 2515 2 163 3944 987 1644 6 163 2552 2468 4304 996 164 1 6 128 2604 2348 4229 1 Oil 1643 6080 2591 2321 4,216 998 164 1 6 238 2660 2379 4315 1037 1627 6 225 2665 2348 4292 1059 162.2 mil $ do.... do 6970 561.4 959 7792 6238 1127 676 56.8 77 657 53 1 91 683 496 96 642 518 87 643 522 84 703 55.3 105 669 540 94 68 1 554 90 700 558 106 684 56.6 82 do do do.... 5 5347 5 3748 5 5780 4362 117.0 51 2 369 12.1 480 374 8.5 47 1 363 9.3 487 390 7.5 488 383 8.4 547 39.9 12.6 505 389 9.3 509 412 7.5 538 41 7 9.0 482 40.2 5.8 137.0 CHEMICALS AND ALLIED PRODUCTS CHEMICALS Inorganic Chemicals Production: Aluminum sulfate, commercial (17% A12O3) $ thous sh tons Chlorine gas (100% C12) ? do.... Hydrochloric acid (100% HC1) i do Phosphorus, elemental i do.... Sodium Sodium Sodium Sodium hydroxide (100% NaOH) i do.... silicate anhydrous i . . . . do sulfate anhydrous i do tripolyphosphate (100% Na5P3O10) ± do.... Titanium dioxide (composite and pure) i do . Sulfur, native (Frasch) and recovered: Production thous. Ig. tons.. Stocks (producers') end of period do.... rl 1286 11421 2895 432 1 206 10556 2 444 426 106 837 173 38 93 765 173 32 101 770 184 30 87 768 210 30 101 786 227 27 118 815 251 34 95 828 218 33 91 794 215 31 111 782 225 31 94 783 198 31 11,606 786 1 139 10,650 738 1 162 826 61 92 767 57 89 771 54 97 764 48 82 767 64 84 801 62 81 837 64 74 807 51 73 786 54 72 794 44 71 '727 727 690 748 56 65 51 58 57 55 52 44 56 58 57 56 48 55 53 53 55 51 10,440 r 3,577 834 3,235 842 3,367 844 3,571 782 3,651 718 3,697 808 3,775 755 3,911 726 4,152 1547 744 1570 768 1361 705 136 682 1296 680 159 692 1 434 812 164 822 1 498 701 174 716 1 523 664 154 664 10,298 r 3,045 rl 111 698 199 26 99 671 185 29 731 r 54 74 696 53 70 41 53 54 52 51 58 687 4,195 686 4,231 685 4,202 1356 573 156 585 1 203 490 161 524 1r 173 515 146 r 543 r r r 651 4,229 642 4,176 Inorganic Fertilizer Materials Production: Ammonia, synthetic anhydrous $ thous. sh. tons Ammonium nitrate, original solution $ do.... Ammonium sulfate $ . do Nitric acid (100% HN03) $ do.... 19653 9,127 2 136 9232 19043 8791 4 1 642 9039 Nitrogen solutions (100% N) $ Phosphoric acid (100% P205) $ Sulfuric acid (100% H2SO4) $ 2,773 10938 44,157 4 do.... do do.... Superphosphate and other phosphatic fertilizers (100% P2O5): Production thous sh tons Stocks, end of period.. do Potash, deliveries (K2O) H . do Exports total # Nitrogenous materials .. Phosphate materials Potash materials . . Imports: Ammonium nitrate Ammonium sulfate . . . . Potassium chloride Sodium nitrate do do do do . . 8339 372 6950 29 445 3668 17524 1815 do do do.... . . do 247 289 8,907 158 3 742 1 491 723 148 728 2,951 9914 40,795 224 760 3,084 218 690 3,866 223 707 2,888 196 659 2,638 202 672 2,625 258 748 2,818 244 663 2,612 268 640 2,443 230 673 2,462 <211 696 2,551 r6 185 r 760 2,703 222 750 2,771 16 903 3 1068 6478 1 261 1*177 399 1 112 1276 550 1 076 1 068 614 1 128 l'l97 416 1 213 1306 396 1 240 1 317 417 983 1200 618 857 929 552 967 917 375 1065 998 340 1r 184 926 517 1230 899 389 358 22 391 2834 13308 1 203 1 512 167 880 93 1 579 221 982 101 1 834 246 1 148 100 1 497 243 860 62 1 637 212 1 135 30 2 031 274 1309 106 1 582 259 992 37 1 736 244 1022 109 1 811 251 911 142 1872 317 933 146 1734 148 979 139 1 756 229 1013 158 1 580 207 982 64 264 327 8,601 159 26 10 655 26 26 12 577 6 17 58 719 o 21 20 670 12 16 24 552 o 18 34 582 21 33 51 722 9 51 23 664 22 29 30 483 19 19 20 599 5 16 5 643 18 16 25 504 (7) 17 33 661 (2) 4 (2) 751 4 4 4 4 4 4 4 1 211 516 141 570 4 o Industrial Gases Production: Acetylene $ mil. cu. ft.. Carbon dioxide, liquid, gas, and solid thous. sh. tons.. Hydrogen (high and low purity) $ mil. cu. ft.. Nitrogen (high and low purity) $ . . do Oxygen (high and low purity) $ do.... 5,493 471 282 358 484 414 386 3,813 103,278 490 285 430,610 336 8429 41985 37314 300 7809 39646 33397 289 8 171 39680 32,220 287 7065 40 609 31 172 313 7563 38065 30753 369 7760 41 462 34,580 340 7462 38948 30835 362 7742 39042 30058 288 7,502 40723 30,047 285 7648 40807 28,844 rI *337 29 7 1525 1179 rl i£336 rl 277 1 5 720 7 *5 555 3 3148 rl 299 1 1 11 077 3 !291 7 rl 8182 869 5 24 99 26 0 483 1 21 88 24 8 4358 18 88 18 2 3765 21 52 13 7 3750 24 64 11 0 3790 27 82 24 8 3984 22 20 85 24 3 4023 14 24 0 4438 199 3682 16 58 19 7 3347 17 57 18 8 3913 287 1047 493 227 1077 484 167 1215 57 1 175 93 0 538 186 858 42 1 204 109 8 756 228 1109 647 192 956 685 187 1042 537 204 974 572 164 767 480 6 3,005 106,562 479 240 430,977 5 161 6 412 6 403 8 6 274 8 302 6 Organic Chemicals § Production: Acetylsalicylic acid (aspirin) . . Creosote oil . . Ethyl acetate (85%) Formaldehyde (37% HCHO) Glycerin refined, all grades Methanol synthetic Phthalic anhydride mil Ib mil gal mil Ib do do mil gal mil Ib ALCOHOL Ethyl alcohol and spirits: Production Stocks, end of period Denatured alcohol: Production Consumption (withdrawals) Stocks, end of period See footnotes at end of tables. mil. tax gal.. do.... 643.2 72.0 571.2 83.2 44.0 75.8 47.8 775 45.4 83.2 42.9 798 39.8 816 48.2 728 37.6 64.0 41.9 57.5 52.6 58.0 51.9 59.9 44.3 55.7 mil wine gal do . do.... 3012 2842 10.1 2302 2254 5.0 207 189 3.4 173 163 3.8 18 1 163 5.0 187 183 4.7 172 152 6.2 224 228 4.8 199 18.5 4.8 203 20.2 4.5 219 21.7 4.7 235 22.4 5.1 22 1 23.2 4.0 66 19 2 3946 187 773 690 21 3 SURVEY OF CURRENT BUSINESS S-20 Unless otherwise stated in footnotes below, data through 1978 and descriptive notes are as shown in the 1979 edition of BUSINESS STATISTICS 1980 December 1982 1981 1981 Oct. Annual Nov. 1982 Dec. Jan. Mar. Feb. Apr. June May July Aug. Sept. 897 9744 261.0 432 1 374.3 918 10537 273.1 441 1 408.5 101 1 10537 280.4 4605 481.0 7449 3907 204.0 150.2 7988 409 4 223.4 166.1 Oct. CHEMICALS AND ALLIED PRODUCTS—Continued PLASTICS AND RESIN MATERIALS Production: '17449 '11 719.9 do '3,699.0 do '5 540.1 do do.... '5,485.4 Polyethylene and copolymers Polypropylene Polystyrene and copolymers Poly vinyl chloride and copolymers rl 1 688 0 rl 12 603 6 rl 4,007.8 rl 59152 rl 5,618.4 1295 954.2 327.3 491.6 402.2 1049 8868 301.4 4332 384.9 704.2 315 1 235.7 153.3 5720 248 1 203.0 121.0 1018 8259 273.3 4046 310.6 932 8146 276.4 3518 329.0 1007 8458 304.5 3975 384.5 5449 2348 201.9 108.2 5799 2742 196.3 109.4 101 5 10125 347.9 4328 436.9 1037 9555 321.8 4144 426.2 1025 9423 287.8 4354 491.4 1027 9447 271.6 422.2 490.5 MISCELLANEOUS PRODUCTS Explosives (industrial), shipments, quarterly Paints, varnish, and lacquer, shipments: Total shipments Architectural coatings Product finishes (OEM) Soecial ouroose coatings mil. lb.. '3,000.4 3 003.6 mil. $. do do.... do.... 76359 3641 2 2,418.5 1.576.2 83957 39689 2,737.2 1.689.5 8167 5136 2259 186.0 101.7 6870 711 7 3555 219.8 136.4 675.1 741 0 3629 220.3 157.9 7912 415 9 222.8 152.5 835.1 4336 235.4 166.1 5829 ELECTRIC POWER AND GAS ELECTRIC POWER Production: Electric utilities, total By fuels By waterpo wer mil. kw.-hr.. 2,286,034 2,292,841 181 377 175,637 195,590 210,098 180 310 187,662 172,588 177 261 186 204 210,543 205,656 do 2010013 2 031 973 163 264 156 606 171 711 183 195 153614 157 784 144 661 149 199 158 178 183 131 181 768 do 276,021 260,868 18 114 19,030 23,879 26,904 26698 29,879 27,928 28063 28027 27,412 23,888 Sales to ultimate customers, total (Edison Electric Institute) 1 mil kw -hr. 2 126 094 2 153 796 Commercial § do.... 52^,122 541,426 793 812 799 885 Industrial § do Railways and railroads do. .. 4,275 4091 Residential or domestic do.... 734,411 735,724 518615 131,742 194 026 1004 174,008 3 542 662 3 137,466 3 185 625 512 758 133,118 188 374 3 1059 204,112 1006 171,862 3 3 3936 12938 3 1,527 3458 13358 1,581 30 513 29440 do do.... do.... 14832 48,284 6,35S 14975 51,055 6,640 Revenue from sales to ultimate customers (Edison Electric Institute) ± mil. $.. 95,462 111,584 27810 thous.. 47,263 47,859 47859 do do. do.... do. . 43528 3499 188 48 44059 3563 189 48 44059 3563 189 48 48352 44 466 3644 194 49 tril. Btu.. 15,409 15426 3844 5332 do.... do.... do.... do.... 4,823 2,442 7,862 283 4,565 2,369 8215 278 1 227 642 1902 73 2279 1,078 1 875 100 mil. $.. 48,276 56,980 15,199 22,859 do do.... do do.... 17409 8,149 22081 637 19 188 9,297 27718 776 5478 2683 6812 226 10449 4787 7272 351 Street and highway lighting Other public authorities Interdepartmental 3830 12424 1,581 3 3 GAS Total utility gas, quarterly (American Gas Association): Customers, end of period, total Residential Commercial Industrial Other Sales to customers, total Residential Commercial Industrial Other Revenue from sales to customers, total Residential Commercial Industrial Other FOOD AND KINDRED PRODUCTS; TOBACCO ALCOHOLIC BEVERAGES Beer: Production Taxable withdrawals Stocks end of period mil. bbl.. do do.... . Distilled spirits (total): Production mil. tax gal.. Consumption, apparent, for beverage purposes i mil. wine gal.. Stocks end of period i mil tax gal Imports mil proof gal Whisky: Production i Stocks, end of period i Imports Wines and distilling materials: Effervescent wines: Production Taxable withdrawals Stocks, end of period Imports 140.53 2 449.42 623.26 11371 4 14.61 1384 13.99 13.12 1239 13.38 13.93 1291 12.95 15.19 1190 14 16 15.00 1291 1493 17.65 1568 1632 17.62 1582 15.83 18.22 1656 1559 18.19 1722 15.28 17.17 16 10 1445 19.50 1626 1431 15.64 14 88 1399 151.96 13.71 13.73 14.05 11 02 1234 1528 1359 1098 10.83 685 657 449.45 61376 11793 39.07 60960 1332 41.70 60620 1232 54.09 61376 9 12 30.70 61296 703 30.22 60832 633 35.69 61840 582 36.13 621 06 798 3329 61672 9 12 38.32 61684 1086 33.47 61496 729 32.74 56560 895 987 12 75 9666 541.07 86.53 880 540.06 10.00 9 14 535.10 9.30 906 541.07 6.62 737 541.03 4.91 888 543.22 4.65 1032 545.29 4.06 1020 547.76 5.91 754 547.25 6.88 781 545.48 8.09 4 94 544.59 5.40 457 501.07 5.88 7.19 9.89 3073 2764 11.53 7.66 380 452 20.75 0.76 288 391 12.63 1.07 1 95 272 11.53 1.01 1 83 1 15 12.67 0.53 1 89 1 12 13.09 0.33 206 193 13.23 0.45 192 162 13.59 0.52 2 18 257 13.36 0.67 292 198 13.65 0.70 251 121 15.52 0.52 3 11 2 17 15.56 0.67 339 1 90 16.52 0.71 0.81 9 13 8431 554.88 86.00 mil. wine gal.. do do.... do.... 2620 2528 9.27 4.83 do.... do. . do . do 509.05 34935 61053 9768 460.19 36346 60431 10760 101.90 3640 65667 1024 26.59 31 55 62490 11 12 15.00 3096 604 31 1091 4.02 2898 575 15 996 6.03 2563 557 53 649 7.07 35 16 523 86 781 4.87 3003 492 03 8 16 3.81 2862 467 53 9 45 4.97 3096 43501 1061 5.18 2576 408 23 883 29.96 29 17 395 40 9 99 162.79 27 10 512 20 9 93 do.... 224.38 188.20 32.05 13.63 10.50 2.88 2.87 4.04 11.35 137 2.08 1.86 1168 43 17 Distilling materials produced at wineries 193.69 17670 12.95 mil tax gal do.... mil. proof gal.. Still wines: Production i Taxable withdrawals i Stocks end of period i Imports See footnotes at end of tables. 194.08 17337 13.96 r Nov. S-21 SURVEY OF CURRENT BUSINESS December 1982 Unless otherwise stated in footnotes below, data through 1978 and descriptive notes are as shown in the 1979 edition of BUSINESS STATISTICS 1980 1981 Annual 1982 1981 Oct. Nov. Dec. Jan. Feb. Mar. May Apr. June July Aug. Sept. Oct. Nov. FOOD AND KINDRED PRODUCTS; TOBACCO—Continued DAIRY PRODUCTS Butter, creamery: Production (factory) @ mil. lb.. Stocks cold storage end of period . . . . do Price wholesale, 92 score (N.Y.) $ per lb.. 1,1453 3046 1.448 12282 4292 1 1.535 995 4700 93.4 451 1 109.5 4292 128.3 433 1 116.8 4404 123.4 4478 Cheese: Production (factory) total @ American, whole milk @ 39843 2,375.8 42290 26085 3385 2003 3305 190.3 3686 220.5 3470 218.4 3258 204.9 3763 232.2 mil lb do.... Stocks, cold storage, end of period do.... American whole milk do Imports do.... Price, wholesale, cheddar, single daisies (Chicago) $ per lb.. Condensed and evaporated milk: Production, case goods @ mil lb Stocks, manufacturers', case goods, end of period mil. lb.. Exports 8 332.9 8 541 6 262.2 522 1 18 1788 740.9 1 0995 662.5 7 () 8 8 804.4 8 578.8 4796 231.2 709.6 6230 247.7 682.4 5913 23.4 677.5 5904 26.5 709.6 6230 52.9 717.3 6320 19.0 696.4 6226 11.8 722.2 6416 15.7 16.8 18.8 7123 20.6 18.2 22.7 821.3 7209 25.6 24.6 1.562 1.672 1.685 1.692 1.684 1684 1.684 1.684 1.684 1.684 1.684 1684 1684 1683 1 686 724.7 7579 629 62 1 686 58 1 536 61 5 51.8 46.0 848 58.6 460 455 407 477 43.4 34.9 29 31 37 22 50 12 do.... 8 195.0 1856 8 1033 89.1 2.5 2.4 06 05 03 512 21419 13.10 13.20 13.20 33848 19*431 13.50 13.80 1.8 1.8 Fluid milk: Production on farms $ • • . . . do Utilization in mfd. dairy products @ do.... Price, wholesale, U.S. average $ per 100 lb.. 128 525 71,665 13.00 132 634 76004 13.80 10751 5885 14.00 10384 5533 14.00 10847 6208 14.00 11 047 6370 13.90 10 311 6099 13.80 11642 6945 13.60 Dry milk: Production: Dry whole milk @ . Nonfat dry milk (human food) @ mil lb do.... 827 1,160.7 927 1,314.3 89 92.0 85 89.3 89 110.1 92 104.1 80 107.2 94 125.3 8 do do.... 53 85.0 60 86.7 28 83.7 43 75.8 60 86.7 76 87.7 69 94.4 8 Exports, whole and nonfat (human food) do.... Price, manufacturers' average selling, nonfat dry milk (human food) $ per lb.. 176.2 198.0 8.2 7.9 2.0 9.4 69 94.5 12.6 0887 0939 0944 0.942 0.940 0.936 0.936 0.937 (7) 3,914.4 3,918.3 369.6 312.8 318.6 285.8 299.5 360.9 353.7 Stocks, manufacturers', end of period: Dry whole milk Nonfat dry milk (human food) 17.4 8 35 8 13.20 13.40 11.4 8 292 417.2 21 4 346.7 8 96 127.5 73 89.8 18.2 20.4 23.1 16.7 339.4 344.8 243.7 248.5 13.7 1686 P 13.90 12.1 GRAIN AND GRAIN PRODUCTS Exports (barley, corn, oats, rye, wheat) Barley: Production (crop estimate) ]j Stocks (domestic), end of period, total $ On farms $ Off farms Exports, including malt § mil. bu.. do do.... do do.... Oats: Production (crop estimate) fl Stocks (domestic), end of period, total $ On farms $ Off farms do.... mil bu do.... do do.... Exports, including oatmeal do... Price, wholesale, No. 2, white (Minneapolis) $ per bu.. Rice: Production (crop estimate) mil bags $ California mills: Receipts domestic rough . .... mil lb Shipments from mills, milled rice do.... Stocks, rough and cleaned (cleaned basis), end of period mil lb Southern States mills (Ark., La., Term., Tex.): Receipts, rough, from producers mil. lb.. Shipments from mills, milled rice do . Stocks, domestic, rough and cleaned (cleaned basis), end of period mil. lb.. 6,644.8 5,858.8 4,141.5 1,717.3 2,485.3 2 4583 391.0 3293 617 mil. bu.. do.... Wheat: Production (crop estimate), total If Spring wheat fl Winter wheat fl Distribution quarterly @ @ mil. bu.. do do.... do 959 8,201.0 6 898.6 4,965.4 1,933.2 2 159.3 77 85 82 65 6.3 75 39 4.9 6,898 6 4,965.4 1,933.2 1946 175.0 1724 151 1 147.2 1893 1,145.6 2124 1950 91 128 3647 3136 51 1 119.8 06 0.5 03 06 03 06 248 0.8 06 08 15 10 8,329.8 1074 1128 4 151 7 4 1269 4 2365 2002 363 516 2 929.0 179.8 9 508 1 364.7 3136 51 1 10 57 9 8,314.9 5 2 365 9 5 1,437.0 5 3 3,853.7 3 2,708.1 3 50747 3,569.7 1,504.9 5162 4976 350 1 1475 86 2 0.3 5990 5698 4746 952 0.3 1665 10 599 0 08 0.3 o 2 1462 2 9 1854 1564 10 1528 3582 2,711 3359 2,267 473 90 293 79 287 97 84 70 184 62 221 76 202 129 204 210 77 279 723 161 225 332 76 110 505 81 231 510 326 426 510 493 550 628 639 577 356 344 174 108 369 10,831 6795 10,821 7354 1696 738 848 660 768 654 505 612 683 564 784 685 702 662 552 602 406 583 434 505 1 198 559 3278 615 1 507 541 2,969 2763 2763 2572 2300 2 132 1868 1610 1308 1012 1270 2826 3276 6 801 3091 532 2906 6620 583 458 479 515 399 487 661 538 370 809 320 431 0.225 0.256 0.225 0.213 0.195 0.185 0.175 0.160 0.158 0.165 0.163 0.160 0.165 0.165 0.165 2 2 16.5 9.3 9 18.6 7.8 78 4 57 19.9 15.9 31 10 19.9 2 2 9 10 2 2 9 10 2,374 2 479 1,895 2 191 2,793 2 695 2099 2523 559 620 2 176.0 9548 12212 1 556.7 7480 8087 do.... do do . 1,903.2 7534 1 1497 2,176.0 9548 1221 2 Exports, total, including flour Wheat onlv do . do.... 13445 1.309.5 16477 1.610.8 87 1496 4 939 4 557 2 Stocks (domestic), end of period, total $ On farms $ Off farms See footnotes at end of tables. 165 4 2265 1473 792 3322 2307 1015 268.7 245.8 9 4783 332.2 2307 101.5 68.9 2 Exports do Price, wholesale, No. 2, medium grain (Southwest Louisiana) $ per lb.. Rye: Production (crop estimate) H Stocks (domestic), end of period $ 2 3610 303.4 1856 117.8 do.... Corn: Production (crop estimate, grain only) |J .. mil. bu.. Stocks (domestic), end of period, total $ do.... On farms $ do.... Off farms do.... Exports, including meal and flour 2 1576 156.9 1278 127.5 1378 137.4 1256 124.2 1438 138.7 1645 159.1 2810 9 704 2,106 6 964 r6 394 4 3,010.0 1 431 8 1,578 1 14 162 7 5798 4 5829 154 1 147.4 1189 114.8 2810 10 704 2,106 1579 155.7 1187 117.9 1268 124.0 1324 130.8 999 98.5 0.155 SURVEY OF CURRENT BUSINESS S-22 Unless otherwise stated in footnotes below, data through 1978 and descriptive notes are as shown in the 1979 edition of BUSINESS STATISTICS 1980 1981 December 1982 1982 1981 Nov. Oct. Annual Dec. Jan. Mar. Feb. Apr. May June July Aug. Sept. 24,669 448 55826 24,315 435 54,578 Oct. Nov. FOOD AND KINDRED PRODUCTS; TOBACCO—Continued GRAIN AND GRAIN PRODUCTS— Continued Wheat flour: Production: Flour $ thous. sacks (100 lb.).. Millfeed $ thous sh tons . Grindings of wheat $ thous. bu.. Stocks held by mills, end of period thous sacks (100 lb.).. Exports do. Prices, wholesale: Spring, standard patent (Minneapolis) $ per 100 lb.. Winter hard 95% patent (Kans City) do 282,655 4,866 628,599 283,966 5045 634,381 24,712 440 55,552 22,835 410 50,982 22,321 403 50,197 23,985 432 53,740 23,553 423 52,786 25,256 453 56,663 22,474 403 50,348 21,886 393 49,018 22,471 406 50,215 23,153 424 52,333 3,842 15014 3,460 15839 284 117 3,460 184 605 2 165 3,384 2336 2,858 1760 3,744 944 352 10.566 *10 116 10.844 '10347 10.525 10025 10.675 10313 10.338 10.763 10638 10.950 10700 10.738 10638 10.538 10.425 10.550 10.500 10.538 14,233 15,058 1,376 1,193 1,232 1,087 1,070 1,253 1,220 1,222 1,360 1,306 339 198 392 238 703 528 469 305 392 238 378 238 374 236 377 233 0.270 0.265 0.245 0.235 0.230 0.255 0.250 0.256 1936 1934 16.4 162 169 166 15.0 31 24 35 22 21 26 38 24 35 22 26 21 19 19 39 17 0.628 0.690 0.713 0.773 0.721 0.762 0.742 0.752 thous animals do.... 2294 31,642 2478 32,819 236 2,939 217 2668 254 2829 228 2771 210 2,591 263 2,819 Prices, wholesale: Beef steers (Omaha) $ per 100 lb Steers, stocker and feeder (Kansas City) .... do.... Calves vealers (So St Paul) do 6696 71.30 7552 6384 64.26 7725 6145 62.52 7175 5981 61.77 6888 5924 58.96 6750 6075 59.22 6900 6354 62.37 6750 6580 63.96 7150 91,882 87,850 7,872 7,308 7,923 6,875 6,340 7,691 39.48 44.29 46.15 42.10 40.17 45.77 49.70 49.50 52.16 58.35 59.01 59.70 63.18 63.12 14.4 14.9 18.4 17.7 16.3 17.1 19.8 19.8 20.1 21.8 22.4 23.2 26.7 28.6 60.50 57.25 50.50 9097 4 504 147 215 111 158 1 3,563 698 593 10.188 10.475 10.388 1,377 1,364 1,325 1 196 10.463 POULTRY AND EGGS Poultry: Slaughter mil. lb.. Stocks, cold storage (frozen), end of period, total mil lb Turkeys do... Price, in Georgia producing area, live broilers $ per lb.. Eggs: Production on farms . mil cases § Stocks, cold storage, end of period: Shell thous cases § Frozen mil. lb Price, wholesale, large (delivered; Chicago) $ per doz.. 4 425 4 570 440 282 0.235 0.270 0.260 4 0.270 0.250 4 32 4 0.230 0.230 0.668 0.662 5878 62.21 7500 5891 61.24 7500 57.27 53.90 28 28 23 0.683 0.265 474 484 0.608 0.604 0.617 0.616 0.659 LIVESTOCK Cattle and calves: Slaughter (federally inspected): Calves Cattle Hogs: Slaughter (federally inspected) thous. animalsPrices: Wholesale, average, all weights (Sioux City) $ per 100 lb.. Hog-corn price ratio (bu. of corn equal in value to 100 lb. live hog) Sheep and lambs: Slaughter (federally inspected) thous animals Price, wholesale, lambs, average (Omaha) $ per 100 lb.. 4 608 8,193 693 8770 4 69 11 64.72 7800 70 18 63.70 8500 72 10 66.07 8288 66 18 64.17 8484 65 14 66.42 81 12 4 20,043 4 61 25 63.55 8460 18,310 r 28.2 23.7 50.00 48.25 46.75 108 234 9 163 468 112 246 133 194 5363 5789 558 476 522 510 490 570 59.81 52.23 49.86 45.27 45.10 49.75 51.50 59.00 mil lb . do.... do.... do.... 38590 750 1,663 2,052 38675 578 1,847 1,832 3433 547 174 167 3 185 552 154 120 3417 578 153 118 3 152 554 129 127 2894 524 147 106 3296 536 124 160 do.... do.... do .. do.... 21,849 338 425 1,531 22629 266 486 1,317 2011 252 48 123 1838 241 39 80 1942 266 43 80 1889 258 33 93 1750 232 46 72 1917 220 44 108 40 130 52 116 5462 4 197 49 158 40 113 41 180 5835 252 42 194 52 146 1.044 0.998 0.960 0.946 0.937 0.974 1.012 1.038 1.095 1.151 1.112 1.026 1.008 0.955 0.930 310 9 328 11 31 13 27 11 30 11 29 10 28 8 33 9 16431 349 314 433 15719 264 347 432 1391 238 28 36 1,319 255 30 35 1445 264 29 33 1 234 249 30 30 1 116 246 25 30 1,346 274 21 46 22 34 42 43 3,550 4 264 32 50 19 42 18 45 3,239 180 16 44 17 43 254.8 1.011 2665 1.137 2845 1.148 2833 1.074 2925 1.007 271 1 1.209 278.6 1.169 282.4 1.100 283.7 1.186 289.2 1.301 299.4 1.386 299.6 1.376 305.6 1.366 327.5 1.415 342.7 1.349 3420 1.232 Cocoa (cacao) beans: Imports (incl. shells) thous. Ig. tons.. Price, wholesale, Accra (New York) $ per lb.. 148.5 1.354 245.0 1.085 24.1 1.130 5.8 1.030 11.5 1.090 10.0 1.160 29.0 1.070 17.6 1.020 15.3 0.990 16.8 0.940 11.9 0.800 13.0 0.830 20.3 0.860 14.3 0.870 14.4 0.880 6.820 Coffee (green): Inventories (roasters', importers', dealers'), end of period thous bags U Roastings (green weight) do. 2834 17047 Imports, total From Brazil Price, wholesale, Santos, No. 4 (N.Y.) Confectionery, manufacturers' sales @ do.... do.... $ per lb.. mil. $.. 18,153 3,505 2.066 4,684 (3) (3) 16,555 3,243 1.594 5,189 1,487 316 1.295 601 1,565 309 1.470 460 1,547 294 1.500 466 1,287 186 1.510 397 1,195 210 1.360 507 1,490 267 1.360 486 1,147 227 1.450 390 1,476 299 1.450 338 1,335 213 1.450 360 1,282 264 1.450 330 1,602 307 1.450 491 1,640 412 1.450 605 2,005 445 1.450 1.330 mil. lb.. 393 350 363 355 350 315 282 275 256 250 280 334 372 389 363 59.50 66.25 131 169 167 167 1577 1493 MEATS Total meats (excluding lard): Production, total . Stocks, cold storage, end of period Exports (meat and meat preparations) Imports (meat and meat preparations) Beef and veal: Production total Stocks, cold storage, end of period Exports Imports Price, wholesale, beef, fresh, steer carcasses, choice (600-700 Ibs.) (Central U.S.) $ per lb.. Lamb and mutton: Production total mil lb Stocks, cold storage, end of period do. .. Pork (excluding lard): Production, total Stocks cold storage end of period Exports Imports . . mil lb. do do.... do. . Prices, wholesale: Hams smoked # Index 1967—100. Fresh loins, 8-14 lb. average (N.Y.) $ per lb.. 2 4 4 4 85 4 8 0.929 88 8 4 MISCELLANEOUS FOOD PRODUCTS Fish: Stocks, cold storage, end of period See footnotes at end of tables. SURVEY OF CURRENT BUSINESS December 1982 Unless otherwise stated in footnotes below, data through 1978 and descriptive notes are as shown in the 1979 edition of BUSINESS STATISTICS 1980 1981 Annual S-23 1982 1981 Nov. Oct. Jan. Dec. Mar. Feb. Apr. May June July Aug. Sept. Nov. Oct. FOOD AND KINDRED PRODUCTS; TOBACCO—Cont. MISCELLANEOUS FOOD PRODUCTS— Cont. Sugar (United States): Deliveries and supply (raw basis): § Production and receipts: Production thous sb tons. 4713 5 157 603 1 132 1 154 do .. do.... do 10838 10 149 2970 861 783 842 766 2416 785 746 3311 648 638 3743 ( 44) () 3644 sh. tons.. thous sh tons 608,029 4 127 10922 9731 3311 979,157 65,210 47,605 16,359 462 902 4,370 223 Deliveries total For domestic consumption Stocks raw and ref end of period Exports, raw and refined Imports raw and refined Prices, wholesale (New York): Raw Refined (excl excise tax) Tea imports $ per lb.. do thous lb 0306 0405 184 786 5054 0 198 0303 190 254 1 579 68,370 653 0 160 0261 15855 745 0.163 0261 13473 0 167 0261 12 121 31670 31,264 7479 48234 215 6,426 (4) (4) 4,246 316 100 2,953 2,837 15,619 2,212 1,478 1,751 4,551 215 142 218 360 133 90 520 15598 17425 16207 5 6 74480 29,006 ( 44) 0 180 0282 0 178 0282 0 169 0282 0 176 0280 0.195 0300 15055 15 464 13787 13 176 16518 0.208 0300 14309 23910 17,725 30 179 41,903 5,034 24805 25,541 () 14286 TOBACCO Leaf: Production (crop estimate) Stocks, dealers' and manufacturers', end of period i Kxports incl scrap and stems Imports, incl. scrap and stems mil. lb.. thous lb do.... 4850 591 518 365,622 5080 575 255 335,920 63222 27,889 86775 22,946 5080 55577 12^970 Manufactured: Consumption (withdrawals): Cigarettes (small): Tax-exempt Taxable Cigars (large) taxable Exports, cigarettes millions do.. do.... do.... 94256 620 565 3292 81,998 92 006 638 114 3258 82,582 8 141 56635 300 7,300 7 447 49658 267 8,058 6479 42300 247 4,713 l mil. lb.. l 786 '2060 1,933 r 1,938 39392 16,579 4983 49862 20,393 41 756 22,659 53960 24,820 4,675 37226 25,012 8990 52850 221 8,148 7584 57430 267 7,337 6577 48368 248 5,540 5919 48240 269 5,670 6265 60590 292 5,797 5784 49 167 234 4,461 r 7595 55802 279 5,844 6789 56655 291 5,894 6,734 12,065 10,417 11,842 27,873 LEATHER AND PRODUCTS LEATHER Exports: Upper and lining leather Price, producer: Sole, bends, light thous. sq. ft.. 192,597 index, 1967=100.. 192,193 12,682 19,464 11,660 10,849 10,343 13,696 15,534 17,449 18,610 18,486 2 306.7 283.8 LEATHER MANUFACTURES Footwear: Production, total thous. pairs.. Shoes, sandals, and play shoes, except athletic thous. pairs.. Slippers do Athletic do.... Other footwear do Exports do Prices, producer: * Men's leather upper, dress and casual index, 12/80=100.. Women's leather upper index, 1967=100.. Women's clastic upper index, 12/80-100 396,851 375,473 35,040 30,493 27,624 26,259 27,128 31,060 26,894 27,940 28,219 23,561 r 28,519 299,131 73,337 24,'383 3,271 9,781 278,979 70,834 25,'660 3,171 9,688 25,196 7,631 2,'213 303 22,562 6,197 1/734 266 21,061 4,715 1,848 238 20,178 4,829 1,252 257 20,102 5,734 1,'292 274 22,975 6,672 l'413 365 19,680 5,991 1,223 334 20,878 5,672 1,390 298 20,444 6,427 1,348 341 r 20,365 r 6,044 r l'464 241 20,835 6,291 1,393 663 1,121 615 505 629 681 839 693 742 18,831 3,933 797 242 636 577 595 649 103.1 103.6 103.9 103.7 104.9 103.5 104.0 105.8 106.0 101.2 r 107.0 107.0 212.1 93.5 212.3 93.5 212.3 93.0 204.1 94.4 205.3 94.4 207.7 94.7 215.6 98.3 214.1 98.3 218.5 98.5 !06.2 219.0 r 99.1 106.3 214.4 99.6 r 218.7 99.1 220.4 99.5 222.3 99.7 221.8 99.7 2281 416 1865 2251 419 1822 2338 443 1,895 2376 388 1,988 2 560 382 2,178 2 336 427 1909 2308 465 1843 5,915 1 786 4 129 2513 438 2075 5,853 1 789 4064 2363 381 1982 5,867 1 797 4070 2450 377 2073 5,977 1802 4 175 2445 393 2052 2260 396 1864 6,163 1 799 4364 211.7 LUMBER AND PRODUCTS LUMBER—ALL TYPES # National Forest Products Association: Production total mil bd ft Hardwoods do... Softwoods do.... Shipments total . do Hardwoods do Softwoods do.... Stocks (gross), mill, end of period, total do.... Hardwoods do.... Softwoods. do 3 3 3 3 5,842 1 972 3870 do.... do 5,805 1 807 3998 1,655 9859 2379 527 1,852 2?382 514 1 868 6,285 1964 4321 9 518 755 728 591 530 585 601 792 848 888 874 888 962 758 mil bd. ft.. do 6791 499 6393 429 536 458 476 477 459 429 407 471 393 443 523 496 473 487 486 481 550 500 504 488 569 494 481 501 573 510 do do.... do.... 6815 6821 912 6395 6463 844 533 533 1,009 403 457 955 396 507 844 459 365 938 457 421 974 454 470 958 465 482 941 482 492 931 472 530 939 520 516 943 556 563 936 512 474 974 490 564 900 Exports total sawmill products do Sawed timber do Boards, planks, scantlings, etc do.... Price, wholesale: Dimension, construction, dried, 2" x 4", R.L. $ per M bd ft See footnotes at end of tables. 540 117 422 523 129 394 29 9 20 38 6 31 47 19 28 34 11 22 34 8 26 54 18 36 46 14 32 48 14 35 40 9 30 31 8 23 42 14 28 31 7 24 41 8 33 Exports, total sawmill products Imports total sawmill products 31 632 3 7297 24335 31 126 3 6 679 24447 29 713 3 7003 22,710 29 715 3 6 812 22903 1831 441 1,390 1765 418 1,347 1 810 356 1 454 1891 402 1489 2045 441 1604 6,075 1968 4 107 1 989 413 1 576 1 637 393 1 244 1 837 430 1 407 2 148 411 1,737 2 148 446 1 702 5,842 1972 3870 6,016 1936 4 080 6,068 1906 4 162 6,042 1842 4200 5,983 1827 4 156 SOFTWOODS Douglas fir: Orders, new Orders unfilled, end of period Production Shipments Stocks (gross), mill, end of period 22342 S-24 SURVEY OF CURRENT BUSINESS Unless otherwise stated in footnotes below, data through 1978 and descriptive notes are as shown in the 1979 edition of BUSINESS STATISTICS 1980 1981 1982 1981 Nov. Oct. Annual December 1982 Dec. Jan. Feb. Mar. Apr. May June July Aug. Sept. Oct. Nov. LUMBER AND PRODUCTS—Continued SOFTWOODS— Continued Southern pine: Orders new Orders unfilled end of period mil bd ft. do.... '6,559 419 '6128 418 498 399 461 430 400 418 344 430 409 448 520 476 486 446 513 463 599 467 493 409 537 427 508 401 do.... do '6,758 '6663 '6,143 '6 129 488 501 364 430 415 412 366 332 419 391 487 492 515 516 490 496 556 595 547 551 582 519 643 534 Production Shipments Stocks (gross), mill and concentration yards, end of period ....mil. bd. ft.. 1,270 1284 1,347 1,281 1,346 1,341 1,340 1,334 1,295 1,291 1,354 1464 thous. bd. ft.. 280,243 227,020 19,043 21,334 15,032 14,283 18,936 20,195 23,660 19,318 26,989 18,752 17,778 22,926 19,908 Prices, wholesale (indexes): Boards, No. 2 and better, 1" x 6", R.L. 1967-100.. Flooring, C and better, F. G., 1" x 4", S.L. 1967-100. 337.2 Exports, total sawmill products Western pine: Orders new Orders unfilled end of period 1 284 1 318 3247 mil bd ft do.... 7730 326 7235 219 573 264 489 243 428 219 407 257 413 261 562 333 608 302 605 331 609 305 629 304 741 337 609 357 684 365 Production Shipments do.... do. . 7,613 7807 7,261 7342 582 600 436 510 390 452 423 369 417 409 529 490 621 639 572 576 603 634 642 630 726 708 603 590 605 676 Stocks (gross), mill, end of period do.... 1,185 1,104 1,240 1,166 1,104 1,158 1,166 1,205 1,187 1,183 1,196 1,208 1,226 1,239 1,168 Price, wholesale, Ponderosa, boards, No. 3, 1" x 12", R.L. (6' and over) $ per M bd. ft.. 287.55 2.8 83.1 10.1 2.1 7.0 7.9 2.4 5.7 7.7 2.8 5.2 10.1 2.0 5.4 9.9 2.2 5.4 10.3 2.6 6.9 9.9 1.9 6.0 10.5 1.8 6.0 10.2 2.1 6.2 11.8 2.2 58 11.4 3.3 67 11.3 2.7 73 10.4 2.8 67 10.6 HARDWOOD FLOORING Oak: Orders, unfilled, end of period Shipments Stocks (gross), mill, end of period mil. bd. ft.. do.... do.... 1.9 78.0 12.4 3.4 63 10.9 METALS AND MANUFACTURES IRON AND STEEL Exports: Steel mill products Scrap Pig iron thous. sh. tons.. do... do.... 4,101 11,168 73 2,904 6415 16 233 532 2 244 480 1 227 509 1 173 462 4 154 539 (2) 197 522 1 148 507 1 194 812 1 180 806 6 146 577 1 152 542 1 158 607 18 133 434 1 Imports: Steel mill products Scrap Pig iron do do .. do.... 15495 558 400 19898 572 433 1872 33 34 1921 43 42 1613 45 64 1969 32 36 1600 41 16 1 356 36 14 1029 41 48 1696 57 71 1784 49 35 1 113 37 9 1 451 45 15 1 191 37 14 1 146 35 41 thous. sh. tons.. do. .. do.... do. .. '42,207 '40,954 '83,710 8,018 43,260 '41 981 '85,097 8 118 3,353 3496 6,833 8418 3,004 3064 6,054 8453 2,817 2661 5,656 8261 2,742 2715 5,917 7826 2,753 2889 5615 7870 3019 3 114 6 180 7762 2,597 2779 5391 7716 2,418 2611 5077 7650 2320 2303 4715 7551 2 119 2033 4336 7352 2077 2 128 4345 7 109 92 17 96 17 C 90 17 10050 84 24 9550 7801 8600 7602 8550 81 70 9400 80 47 9150 75 93 8500 69 98 7500 62 85 6400 55 21 5950 53 84 5750 54 77 58 00 53 48 58 00 52 32 55 00 '69,613 '69 594 25,058 1 73,174 1 72 181 28,328 5,731 7 112 2555 3,910 5048 2029 4,430 3507 1585 5687 1076 1630 5244 1 180 1018 5 126 1433 646 5347 2265 773 4358 5306 1 199 2525 4964 1 865 869 4795 1508 909 4 193 1*532 744 3943 1*424 1 395 478 Iron and Steel Scrap Production Receipts net Consumption Stocks end of period Prices, steel scrap, No. 1 heavy melting: Composite $ per Ig ton Pittsburgh district do 1 Ore Iron ore (operations in all U.S. districts): Mine production thous. Ig. tons.. Shipments from mines . do Imports do.... U.S. and foreign ores and ore agglomerates: Receipts at iron and steel plants Consumption at iron and steel plants Exports Stocks, total, end of period At mines At furnace yards At U S docks do.... do do do.... do do.... do 87,188 89397 5073 96,645 94958 '5546 9,070 6913 315 7,241 6370 8358 5,579 6038 685 1,664 5518 44 1,589 5 175 1 1,596 5670 1 2,795 4888 211 6,672 4896 349 7,182 4342 539 6,746 4705 289 5,848 4369 51 5,361 4 249 448 56,066 11725 35,706 6095 60,243 12734 36,203 6571 60,387 17515 36 137 6735 60,144 16429 36939 6776 60,243 17469 36*203 6571 60,401 21 594 32298 6509 60,894 25 701 28*813 6380 57,340 26576 24*654 6 110 57,725 29740 22504 5481 57,645 28314 24209 5 122 58,457 26380 26909 5 168 59,065 25 297 28860 4 908 57,833 22 137 30276 5 420 55,774 19 042 31326 5 406 do.... 795 775 51 67 49 65 49 65 55 22 58 35 33 14 25 Pig iron: Production (including production of ferroalloys) thous. sh. tons.. Consumption do.... Stocks, end of period do.... 68,721 '69,053 889 73,570 75,051 859 5,419 5,527 812 4,782 4,847 841 4,750 4,824 859 4,489 4766 881 4,169 4384 822 4,622 4869 782 3,967 4,083 745 3,904 3,975 747 3,595 3648 758 3,516 3554 726 3,277 3,160 3,077 Manganese (mn. content), general imports Pig Iron and Iron Products $ per sh. ton.. 203.00 206.00 21300 21300 21300 21300 21300 21300 21300 21300 21300 21300 21300 21300 Castings, gray and ductile iron: Orders, unfilled, for sale, end of period thous. sh. tons.. Shipments, total do.... For sale do.... Price, basic furnace 964 11,799 6,457 743 11929 6,702 781 986 555 727 823 458 743 681 344 783 771 399 761 764 412 726 860 482 696 771 445 651 741 432 610 756 428 611 616 359 r 608 r 630 404 574 624 369 Castings, malleable iron: Orders, unfilled, for sale, end of period thous. sh. tonsShipments, total do.... For sale do.... 22 450 206 32 421 199 31 35 18 33 26 13 32 23 10 31 24 12 29 26 15 29 30 13 25 28 12 24 27 12 24 29 11 16 21 7 16 23 10 15 22 8 See footnotes at end of tables. r 48 94 51 50 SURVEY OF CURRENT BUSINESS December 1982 Unless otherwise stated in footnotes below, data through 1978 and descriptive notes are as shown in the 1979 edition of BUSINESS STATISTICS 1980 1981 S-25 1981 Oct. Annual Nov. 1982 Dec. Jan. Feb. Mar. Apr. May June July Aug. Sept. Oct. Nov. METALS AND MANUFACTURES—Continued Steel, Raw and Semifinished Steel (raw): Production thous. sh. tons.. 111,835 Rate of capability utilization percent.. 72.8 Steel castings: Orders, unfilled, for sale, end of period thous. sh. tons.. Shipments total do For sale, total do.... 120,828 78.3 9,003 68.7 7,962 62.8 7,672 58.6 7,737 59.3 7,178 60.9 8,049 61.7 7,006 55.2 6,678 50.9 6,050 47.7 5,719 43.8 605 1,878 1,701 385 1,752 1,568 366 144 129 366 127 116 385 122 110 381 115 106 359 114 104 335 129 117 304 113 103 276 101 93 250 91 82 232 63 56 83,853 87,014 6,723 5,783 5,666 5,608 5,434 6,163 5,488 5,149 5,372 4,514 4,724 4,760 4,309 5,342 5,207 8,080 1,797 5,598 4,903 7,397 1,458 437 362 543 99 385 313 498 98 389 299 482 81 314 329 463 98 285 323 498 102 325 365 527 91 318 321 393 73 306 290 330 74 291 284 316 68 257 272 259 56 269 265 300 41 283 280 269 44 291 321 261 36 5,538 42.4 r 222 65 r 58 5,299 41.9 5,262 40.2 r 213 69 r 62 Steel Mill Products Steel products, net shipments: Total (all grades) thous sh tons By product: Semifinished products do Structural shapes (heavy), steel piling do.... Plates do Rails and accessories do.... Bars and tool steel, total Bars: Hot rolled (incl. light shapes) Bars: Reinforcing Bars: Cold finished do.... do.... do.... do.... 13,258 6,911 4,683 1,585 13,828 '7,770 4,371 1,620 1,140 638 364 133 953 543 296 109 898 471 323 99 912 525 271 112 821 506 205 105 1,015 573 320 117 865 470 298 93 846 434 321 87 855 440 319 92 668 304 296 66 766 361 325 76 746 347 322 73 715 238 323 68 Pipe and tubing Wire and wire products Tin mill products Sheets and strip (incl. electrical), total Sheets: Hot rolled Sheets- Cold rolled do do.... do.... do.... do.... do 9,097 1,768 5,709 33,595 12,116 13,313 10,286 1,694 4,927 36,924 13,451 14,396 892 133 351 2,765 976 1,085 813 107 327 2,288 863 857 759 102 412 2,246 901 811 753 105 389 2,245 793 869 702 115 449 2,139 768 817 662 133 400 2,645 953 1,030 602 125 328 2,462 828 1,005 476 123 338 2,367 759 957 388 123 386 2,661 848 1,069 274 113 331 2,285 758 884 246 112 386 2,340 746 919 228 113 502 2,295 665 915 220 108 251 2,189 657 878 By market (quarterly): Service centers and distributors Construction, incl. maintenance Contractors' products Automotive Rail transportation Machinery, industrial equip., tools Containers, packaging, ship, materials Other do.... do.... do.... do.... do.... do.... do.... do.... 16,172 8,742 3,148 12,124 3,155 4,543 5,551 30,415 17,546 8,761 3,225 13,101 2,180 4,646 5,293 32,264 Steel mill shapes and forms, inventories, end of period — total for the specified sectors: mil. sh. tons.. Producing mills, inventory, end of period: Steel in process . mil sh tons Finished steel do.... Service centers (warehouses), inventory, end of period mil. sh. tons.. Consumers (manufacturers only): Inventory, end of period do.... Receipts during period do Consumption during period do.... 3 3,704 1,812 610 2,472 422 947 1,129 7,075 3,429 1,684 592 2367 411 960 1,260 6,500 3,099 1,568 548 2,311 183 491 1,252 4,546 3,213 1,651 598 2,791 277 689 1,115 5,676 28.4 30.0 30.4 30.5 30.0 30.0 29.9 29.4 28.8 28.1 26.9 26.5 25.8 9.6 6.9 11.3 7.4 11.3 7.4 11.3 7.4 11.3 7.4 11.6 7.2 11.3 7.2 11.2 7.1 11.0 7.0 10.9 6.9 10.4 6.5 10.2 6.5 9.8 6.4 3 5.3 2 1,030 2 490 2 191 2 638 2 45 2 156 2 263 2 1,495 5.4 5.3 5.4 5.2 5.2 5.2 5.1 5.0 5.1 5.0 5.0 5.9 71.7 72.4 r 5.7 r r 4.9 r r 3.8 r 5.9 4.2 6.0 4.7 4.6 6.2 5.3 5.1 5.9 5.8 6.1 5.7 5.0 5.2 5.3 4.8 5.2 4.9 4.7 5.1 4.8 4.3 4.4 4.6 4.3 4.5 5,130 1,377 4,948 1,653 396 150 364 129 364 123 351 144 311 156 336 170 319 170 321 167 300 188 297 182 287 186 271 181 do.... do.... 580.8 71.4 698.5 140.1 55.2 15.6 41.5 14.9 49.3 13.7 38.5 17.5 65.9 19.1 61.7 21.4 61.0 14.1 51.0 19.5 66.5 15.5 42.2 16.7 78.2 17.9 52.8 16.9 52.7 18.9 do.... do.... 714.9 315.3 344.2 271.2 24.1 21.6 23.1 16.0 24.6 16.8 22.1 18.0 18.8 17.8 46.0 18.3 26.6 15.4 19.9 15.9 48.5 19.9 24.2 13.3 42.6 14.3 23.6 22.0 59.5 19.6 Price, primary ingot, 99.5% minimum .... $ per lb.. 0.6957 0.7600 0.7600 0.7600 0.7600 0.7600 0.7600 0.7600 0.7600 0.7600 0.7600 0.7600 0.7600 0.7600 0.7600 0.7600 14,057 10,485 5,862 1,538 13,237 10,328 r 5,978 1,581 1,060 838 484 128 860 673 373 110 928 679 389 98 849 738 430 106 934 734 430 105 1,095 831 482 120 995 783 452 119 971 762 441 116 1,113 833 498 143 6,607 6,276 6,524 6,607 6,670 6,742 6,658 6,683 6,684 6,577 1,538.2 1,544.0 1,430.2 113.8 140.8 128.9 120.5 8.3 134.9 113.4 108.5 6.2 114.0 130.2 123.9 6.2 112.6 106.2 97.3 8.9 107.4 104.7 96.2 8.5 119.9 117.2 110.4 6.9 112.0 105.4 97.9 7.4 97.0 99.3 90.5 8.8 631.9 58.8 32.5 60.1 47.5 51.8 51.4 502.5 359.3 52.7 36.7 42.4 30.2 42.3 24.3 45.2 20.6 40.6 15.7 30.8 18.8 30.6 22.3 35.0 0.7 19.4 2.1 21.3 1.8 35.2 0.4 21.9 0.6 29.4 0.9 30.5 1.0 0.7241 0.7297 6.6 69.9 73.4 r 6.4 5.8 5.5 6.3 5.0 NONFERROUS METALS AND PRODUCTS Aluminum: Production, primary (dom. and foreign ores) thous. sh. tons.. Recovery from scrap (aluminum content) do.... Imports (general): Metal and alloys, crude Plates, sheets, bars, etc Exports: Metal and alloys, crude Plates, sheets, bars, etc Aluminum products: Shipments: Ingot and mill prod, (net ship.) Mill products, total Sheet and plate Castings mil lb.. do.... do.... do.... Inventories, total (ingot, mill products, and scrap), end of period mil. lb.. 5,076 Copper: Production: Mine, recoverable copper thous. met. tons.. 1,181.1 Refinery, primary do.... 1,210.9 From domestic ores do 1,121.9 From foreign ores do.... Secondary, recovered as refined do.... 573.0 Imports (general): Refined, unrefined, scrap (copper cont.) do.... 551.8 Refined do.... 459.8 mo Exports: Refined and scrap Refined do.... do.... 330.1 17.4 339.7 27.2 Consumption, refined (by mills, etc.) thous. sh. tons.. Stocks, refined, end of period do.... Price, electrolytic (wirebars), dom., delivered $ per lb.. 2,083 365 2,045 511 1.0242 0.8512 See footnotes at end of tables. 493 511 0.8231 0.8122 0.8029 879 744 444 102 1,105 111 462 106 6,626 6,512 90.0 93.9 85.8 8.0 84.6 99.5 85.7 13.8 81.1 91.5 74.1 17.4 74.6 94.7 75.6 19.0 47.5 20.4 50.6 29.2 47.5 27.2 42.9 25.8 57.3 38.9 39.1 1.6 20.4 1.6 33.5 2.9 34.0 5.4 36.6 9.9 0.7878 0.7586 0.7105 0.7100 0.7106 r 485 581 508 558 0.7863 r 0.7627 0.7487 0.7149 SURVEY OF CURRENT BUSINESS S-26 Unless otherwise stated in footnotes below, data through 1978 and descriptive notes are as shown in the 1979 edition of BUSINESS STATISTICS 1980 1982 1981 1981 Oct. Annual December 1982 Nov. Jan. Dec. Feb. Mar. Apr. May June July Aug. Sept. Oct. Nov. METALS AND MANUFACTURES—Continued NONFERROUS METALS AND PRODUCTS— Continued Copper-base mill and foundry products, shipments (quarterly total): Brass mill products Copper wire mill products (copper cont ) Brass and bronze foundry products 2467 2783 489 mil Ib do do Lead: Production: Mine, recoverable lead thous. met. tons.. Recovered from scrap (lead cont ) do 47.5 509 39.8 522 41.3 487 40.5 455 43.5 482 48.7 480 44.3 47.6 42.1 46.1 42.6 44.8 37.0 34.4 42.9 442 689 1 125.3 78 117.0 30 94.4 21 107.6 56 93.9 34 84.4 4.9 90.9 3.8 88.3 1.9 82.1 5.4 84.5 1.6 73.0 85 90.7 135.3 83.3 100.5 88.0 83.3 78.9 79.3 81.2 85.7 85.6 82.1 79.2 79.0 54.8 95.8 79.5 98.1 59.8 98.9 71.9 101.0 795 98.1 68.3 92.0 70.0 88.4 73.4 85.2 65.5 87.2 61.7 81.7 69.0 88.3 66.6 84.2 61.7 83.5 59.6 0.4246 41.7 0.3653 54.0 0.3705 45.8 0.3388 41.7 0.3107 41.7 0.2967 36.8 0.2870 35.1 0.2764 34.5 0.2606 32.7 0.2609 36.1 0.2476 39.3 0.2718 34.8 0.2582 tons do.... do do do .. do 842 45,983 '18 638 l l 703 1 56,362 M4 342 232 45,873 15010 1 705 48,450 38750 0 3,261 1280 155 3,900 2950 o 295 2,312 1 025 85 3,400 2500 162 2,742 1 135 120 3,750 2800 149 3,145 1005 150 5,100 3600 0 2,966 1065 140 5,000 3600 156 2,055 1025 140 5,100 3700 93 2,450 1 000 155 4,900 3,600 186 2,742 940 145 4,700 3400 do do.... $ per Ib.. 4293 5,504 8.4600 5989 5,988 7.3305 253 5,325 7.9560 1610 3,490 7.4519 441 3,829 6.6917 454 5,222 6.5600 261 4,953 6.6284 662 4,653 6.0826 375 3,888 6.1255 305 2,910 6.2549 175 2,940 6.3904 do do .. Stocks, end of period: Producers', ore, base bullion, and in process (lead content), ABMS thous. met. tonsRefiners' (primary), refined and antimonial (lead content) ... thous. met tons.. Consumers' (lead content) jj do.... Scrap (lead-base, purchased), all smelters (gross weight) thous. met. tons.. Price, common grade, delivered $ per Ib.. Tin: Imports (for consumption): Ore (tin content) metric Metal, unwrought, unalloyed Recovery from scrap total (tin cont ) As metal . Consumption, total Primary Zinc: Mine prod., recoverable zinc Imports (general): Ores (zinc content) Metal (slab blocks) 1 564 636 107 544 654 114 544 659 109 444.1 6274 Imports (general) ore (lead cont ) metal Consumption total Exports incl reexports (metal) Stocks, pig (industrial), end of period Price, Straits quality (delivered) 2622 2847 471 549.5 6756 52 1 10703 r r r 232 3,951 1 150 115 3,400 2500 171 5,563 8.2147 r 4,216 1 270 160 2,950 2200 1 180 4,748 5,988 3,872 7.9352 7.7590 r 72 1,089 1 150 95 3,300 2500 75.1 76.6 6.2532 '"6.23 19 "0.2161 194 r 289 4,700 3,400 249 6.2475 23.9 24.2 24.7 25.3 23.4 25.6 27.0 21.3 27.4 25.7 do.... do 113.8 3290 117.7 6026 7.8 482 3.7 593 9.2 328 3.2 20 6.1 330 6.3 362 2.4 264 4.0 353 4.9 398 0.7 278 2.8 262 3.9 34.9 do .. do 67.6 236 1 58.2 224 1 46 195 4.6 187 53 186 4.6 17 1 4.2 168 4.7 182 6.8 180 6.2 177 3.9 173 3.1 173 2.6 175 3.6 179 '369.9 ^ll 1 0.3 341.8 8347 0.3 27.0 662 0.1 26.6 598 () 23.0 520 () 24.2 55 1 () 21.6 553 () 21.4 600 () 19.3 578 () 21.5 588 () 21.5 658 () 18.7 563 0. 20.4 60.7 () r 61.4 r 24.8 2 61.4 () 2 187 22.6 03743 346 44.7 04455 245 72.1 04587 31.6 72.9 04615 346 72.1 04259 367 70.1 04217 412 67.0 04272 41.8 65.7 03923 39.9 60.0 0.3550 35.3 60.8 0.3467 27.9 57.7 0.3460 20.5 62.0 03566 14.9 57.7 0.3779 15.9 56.1 03964 Heating, combustion, atmosphere equipment, new orders (domestic) net qtrly # mil $ Electric processing heating equipment do Fuel-fired processing heating equip do 3483 828 1565 4700 1069 2254 Material handling equipment (industrial): Orders (new) index seas adj 1967 — 100 3755 3820 3242 3887 3778 3230 4280 2623 2730 221.4 241.2 2351 2095 2660 Industrial trucks (electric), shipments: Hand (motorized) number.. Rider- type do .. Industrial trucks and tractors (internal combustion engines) shipments number 20,495 24,110 18,734 19,784 1,571 1,722 1,586 1,814 1,569 1,976 1,250 1,447 1,398 1,452 1,665 1,828 1,216 1,386 1,228 1,402 1,558 1,567 787 931 1,207 1,042 1,160 1,312 1,220 39448 31885 2622 2622 2551 2277 2053 2430 1658 1,587 2,216 824 1 265 1 484 1 312 114 9 148 1 1215 118 1 1173 1142 1102 1048 97 3 91 1 909 883 90.8 92.1 878 1345 1423 1479 1400 1325 1352 1309 1333 1344 123.5 121 3 120.0 119.1 115.9 1098 1312 144 3 147 4 1483 1492 1502 151 6 1526 1529 1537 1538 1540 1538 1540 1537 272 234 279 249 296 242 276 252 271 251 263 252 255 245 246 225 233 215 218 194 232 194 191 195 198 186 178 191 174 172 mil $ 3 884 75 do 3 495.50 do.... 3,680.80 do 3 206 00 do .. 4,749 7 2 228 10 1 945.80 4,104.50 3 552 45 28733 157 10 14580 334.60 30570 33537 13540 115.65 329.75 28735 31594 11255 10105 398.60 35885 28733 15595 12490 307.15 28450 2722.1 123 15 113.30 293.15 27375 2,552 1 10575 115 10 90.20 107.55 332.75 239.45 30305 21460 2325.1 2,200 8 6800 53.75 246.60 224 15 2 022.2 9165 55 15 324.60 29655 1,789.2 7040 57.55 203.55 17375 1,656.0 6045 4925 212.50 18430 1,504.0 5240 4675 222.10 19035 13343 716.75 61685 991.10 82420 4270 59.40 5020 7230 6025 4980 60.35 5285 78.40 7000 4800 39.25 3290 92.30 7995 4270 49.25 41 25 76.40 4960 3998 40.65 3590 66.45 5750 3740 37.70 2995 60.00 5630 2994 37.95 27.40 49.25 4490 2882 34.25 2925 84.55 7535 237.8 36.15 3040 46.80 4065 2272 26.05 2270 44.70 3890 2086 34.35 3020 51.40 4595 1915 thous. met. tons.. Consumption (recoverable zinc content): Ores ... Scrap all types Slab zinc: @ Production, total $ thous. met. tons.. Consumption fabricators do Exports do.... Stocks, end of period: Producers' at smelter (ABMS) do .. Consumers' do.... Price Prime Western $ per Ib 317.1 312.4 28.7 26.0 2 2 2 2 2 2 2 2 r 2 9.1 49 1 Industrial supplies, machinery and equipment: New orders index seas adjusted 1977 — 100 Industrial suppliers distribution: t Sales index seas adjusted 1977—100 Price index, not seas. adj. (tools, material handling equip., valves, fittings, abrasives, fasteners metal products etc ) 1977 — 100 Fluid power products shipments indexes: * Hydraulic products, seas, adj 1972=100.. Pneumatic products, seas, adj do.... Machine tools: Metal cutting type tools: Orders new (net) total Domestic Shipments, total Domestic Order backlog end of period Metal forming type tools: Orders, new (net), total Domestic . . . . . . Shipments, total Domestic Order backlog end of period . See footnotes at end of tables. . do.... do do .. do do 869.55 66495 1 010.95 87855 3848 733 17.5 269 1137 20.2 610 32.05 2675 78.30 73 15 3278 18.7 () 199 21 5 04083 04039 MACHINERY AND EQUIPMENT 1153 284 540 6.1347 538 18.1 14 4 SURVEY OF CURRENT BUSINESS December 1982 Unless otherwise stated in footnotes below, data through 1978 and descriptive notes are as shown in the 1979 edition of BUSINESS STATISTICS 1980 1981 1982 1981 Oct. Annual S-27 Nov. Dec. Jan. Feb. Mar. Apr. May June July Aug. Sept. Nov. Oct. METALS AND MANUFACTURES—Continued MACHINERY AND EQUIPMENT— Continued Tractors used in construction, shipments, qtrly: Tracklaying total units mil. $.. Wheel (contractors' off-highway) units mil $.. Tractor shovel loaders (integral units only), wheel and tracklaying types . units. mil $.. Tractors, wheel, farm, nonfarm (ex. garden and construction types), ship., qtrly units., mil. $.. 16503 1,306.1 4781 387.5 15789 1,569.9 4309 410.9 3010 3112 784 903 2390 264.4 547 582 45480 1,697.1 33369 1,605.5 6774 3446 6218 300.8 146,274 3,183.4 141,170 3,479.3 31,417 822.7 2589 272.7 r 28,067 r 754.2 "577 65.4 4 25,754 737.7 4 6,543 4 4 4,407 4 3640 192.6 131.8 ELECTRICAL EQUIPMENT Batteries (auto -type replacement) ship thous 50063 53597 6201 4668 4897 4269 3611 3584 Radio sets production total market Television sets (incl. combination models), production, total market thous 28 104 31476 3767 3216 2 1 814 2012 1671 2 1816 1609 2460 2 thous.. 18,532 18,480 1,550 1,474 2 1,250 1,208 1,344 2 1,499 1,375 1,292 2 Household major appliances (electrical), factory shipments (domestic and export) # thous.. Air conditioners (room) do.... Dishwashers do.... Disposers (food waste) do.... Ranges . .. do Refrigerators do.... Freezers do Washers do.... Dryers (incl. gas) do.... Vacuum cleaners (qtrly ) . do. . 30,260 3,204 2,738 2,962 2530 5,124 1681 4,550 3,177 7439 30,336 3,692 2,484 3,178 2325 4944 1 561 4,365 2,977 7 785 2,344 90 220 234 192 383 85 352 260 1,854 94 165 197 163 272 62 267 217 1,831 163 144 206 152 264 76 246 189 1 767 1,947 191 169 220 147 276 89 306 228 2,177 361 160 214 143 324 99 347 234 2,650 572 151 272 161 343 117 383 253 1911 2,452 517 201 175 169 379 107 345 214 1,446 1,538 2,818 1,417 1,496 2,785 139 128 224 111 119 203 80 99 239 69 107 268 77 135 305 70 110 295 5012 3839 3629 4750 3 179 2284 4052 2 1,710 1,177 1,420 2 2,232 419 169 200 150 359 112 322 195 2,341 289 160 207 293 437 161 352 214 1,677 2,196 145 187 199 166 456 151 323 196 69 113 246 85 123 248 329 41 639.0 5819 5660 3624 3490 1,619 1,106 2,257 61 203 219 170 432 156 364 244 2,097 17 167 241 168 381 109 360 245 2,136 2,350 31 218 339 202 401 80 347 261 78 96 230 96 99 225 126 r !33 232 133 111 260 319 45 637.5 427 106 637.5 505 86 637.4 476 77 637.4 62220 1,161 GAS EQUIPMENT (RESIDENTIAL) Furnaces, gravity and forced-air, shipments. ...thous.. Ranges, total, sales do.... Water heaters (storage), automatic, sales @ do.... 95 124 211 PETROLEUM, COAL, AND PRODUCTS COAL Anthracite: Production Exports Price, wholesale * thous sh tons do.... Index, 1967=100.. Bituminous: Production t thous sh tons Consumption total Electric power utilities Industrial total Coke plants (oven and beehive) do do do do.... Residential and commercial Stocks end of period total Electric power utilities Industrial total Oven-coke plants Exports Price, wholesale do 5423 2,249 582.2 6056 1,795 463.7 457 252 629.1 550 171 642.5 394 101 643.7 353 147 643.7 381 44 643.7 459 84 645.5 274 79 648.1 823 644 818 352 84784 76027 75966 65720 69621 82209 72432 69933 76508 57354 67889 669 061 568 322 125 815 66,493 728 543 595 575 127 527 60,888 58785 47685 10669 5,150 58293 46873 10 769 5,030 64578 52968 10783 4,833 68842 57 195 10847 4,437 59461 48975 10 149 4,334 57965 47811 9761 4,165 53017 43,403 9041 3,704 54585 45,523 8713 3,616 55730 47,330 8 121 3,476 55,206 54,660 4924 '199077 do do.... 178,269 do 20808 9017 do... do.... 89,882 466.5 Index, 1967=100.. 279 349 517 393 573 431 800 5440 651 827 179 607 169 735 177361 179 607 168 274 167 676 173 574 180 807 187 248 192,664 163,356 154,165 161,454 163,356 152 935 152,735 159 030 165,848 171,892 176,911 168,844 169,403 16251 15570 15907 16251 15339 14 941 14 544 14959 15356 15753 6,518 6,216 5887 6 181 5594 6357 6268 5914 6446 6446 6,029 7,293 8,918 10,335 10,742 10,057 10,626 r 9,071 110,243 12,105 11,676 11,462 529.6 529.3 533.9 535.0 520.6 527.9 507.6 506.0 525.3 525.0 510.2 493.7 8,603 537.3 121 637.4 ""638.0 9,850 535.6 536.2 COKE Production: Beehive and oven (byproduct) Petroleum coke § thous. sh. tons.. do Stocks, end of period: Oven-coke plants, total A t furnace plants . . . . At merchant plants Petroleum coke $ Exports do.... do do do do 46,132 27094 42,786 28296 2348 2445 10,580 2622 2420 2207 8828 2551 2428 2533 7,507 2397 2672 2564 2433 1,171 1,088 1,244 129 61 141 62 3286 718.4 2848 718.7 3360 718.8 2,838 735.8 959 37 963 105 7,455 7015 440 939 97 154 7,871 7489 382 1,091 175, 2790 7872 3049 770.3 3750 744.8 3683 717.9 3459 717.8 3,899 718.2 395.1 69 372.9 66 325.4 65 361.7 65 353.0 66 378.9 68 388.4 74 399.8 75 380.3 72 376.3 74 476 2 501 3 480 2 418 6 4549 4375 4652 464 1 4957 4792 4700 264.8 516 257.8 50 1 267.3 51 1 268.7 492 243.3 440 266.5 50 1 259.6 493 268.5 484 260.4 468 268.1 490 269.7 496 262.0 472 140.7 434 124.0 44 3 135.7 47 i 118.6 43 6 86.9 44 4 92.7 456 88.0 406 107.3 410 117.6 392 136.9 41 8 123.7 36 1 114.3 465 8,627 7521 13 106 846 6,724 6320 403 900 708 2 162 1251 123 37 646 8035 3772 788.2 5,049.3 76 4,656.5 69 6 266 9 do.... do do.... do 6,724 6320 403 900 829 894 134 48 3 591 7859 4581 787.2 383.3 67 378.2 68 5 905 7 500 5 3,146.4 5918 3,124.6 5979 1,946.2 5825 1,642.8 5404 836 67 PETROLEUM AND PRODUCTS Crude petroleum: Oil wells completed number Price, wholesale . . Index, 1967 — 100.. Gross input to crude oil distillation units mil. bbl. Refinery operating ratio % of capacity All oils, supply, demand, and stocks: $ New supply total 1J Production: Crude petroleum Natural gas plant liquids Imports: Crude and unfinished oils Refined products Change in stocks all oils (decrease Demand total Exports: Crude petroleum Refined products See footnotes at end of tables. mil bbl ) do do do do.... 27026 5564 3 r r r 793 683 76 17 9 17 6 27 7 295 305 510 -05 129 316 135 71 6441 7 60572 5139 486 3 5350 518 3 4689 5097 5050 485 1 4690 4809 4866 4713 1049 94.3 832 133.9 70 15.9 83 12.7 59 14.5 74 18.3 85 14.0 100 17.4 5.2 18.3 8.1 16.8 2.8 18.3 7.1 15.9 9.4 17.2 5.5 18.2 3,282 734.1 SURVEY OF CURRENT BUSINESS S-28 Unless otherwise stated in footnotes below, data through 1978 and descriptive notes are as shown in the 1979 edition of BUSINESS STATISTICS 1980 1981 1982 1981 Oct. Annual December 1982 Nov. Dec. Jan. Feb. Mar. Apr. May June July Aug. Sept. Oct. Nov. PETROLEUM, COAL, AND PRODUCTS—Continued PETROLEUM AND PRODUCTS— Continued All oils, supply, demand, and stocks $—Continued Domestic product demand total # do Gasoline . do ... 62424 2,420.5 580 58402 2,414.9 462 491 1 205.5 41 4652 192.5 44 5146 208.9 62 4926 184.2 64 4464 170.5 50 482.3 205.8 36 4814 207.5 34 460.2 207.0 32 447.9 205.4 25 4579 211.7 30 4600 207.4 24 4476 196.2 32 Distillate fuel oil Residual fuel oil Jet fuel do.... do.... do 1,049.0 918.0 3907 1,032.8 752.5 3686 86.6 57.8 290 86.6 56.3 298 101.0 67.9 307 105.7 66.6 31 2 89.2 63.3 297 89.3 59.3 303 89.9 56.0 300 75.8 48.1 31 2 73.5 45.1 296 64.6 45.4 306 69.1 47.7 302 75.4 44.2 310 Lubricants Asphalt Liquefied gases do do .. do.... 583 142.4 537.8 560 1248 542.2 53 137 49.2 37 99 47.4 44 58 51.8 39 29 58.1 42 4.3 47.6 42 5.2 47.4 46 71 45.8 41 10.5 44.4 45 14.3 38.6 43 16.7 46.1 42 18.2 42.1 45 15.4 45.8 1,420.2 '482.9 1 107.8 '192.0 '745,3 1,488.5 5988 230.3 1768 7129 1,488.3 5843 214.8 1780 7260 1,506.2 5948 222.5 1783 7330 1,488.5 5988 230.3 1768 7129 1,460.9 6062 235.3 181 5 6733 1,431.4 6122 241.2 1840 6352 1,400.9 614.2 248.5 183.5 603 1 1,349.9 6110 255.5 1784 5604 1,349.4 609.5 261.0 174.5 5654 1,362.3 606.9 264.1 174.1 581 2 1,393.9 611 7 267.2 1764 6058 1,407.4 625.4 273.6 171.9 610 1 1,414.5 617.8 277.9 173.9 6228 2,394.1 '213.5 2,350.8 2058 200.9 1929 198.3 2029 206.0 2058 192.3 2168 166.3 216 1 186.8 201.5 183.7 1820 196.8 1762 203.9 180.2 211.3 1853 201.0 1872 196.6 193.5 576.7 666.0 666.1 661.7 657.7 651.7 642.3 621.1 578.6 555.7 582.7 628.8 637.8 630.8 1 217 1 261 (4) 4 Stocks, end of period, total Crude petroleum Strategic petroleum reserve Unfinished oils natural gasoline, etc ... Refined products Refined petroleum products: $ Gasoline (incl. aviation): Production Stocks end of period do.... do do.... do do mil. bbl.. do ... 1 Prices (excl. aviation): Wholesale, regular Index, 2/73=100.. Retail, regular grade (Lundberg/Platt's): tl Leaded $ per gal Unleaded * do Aviation gasoline: Production mil. bbl.. Stocks end of period do.... Kerosene: Production do.... Stocks end of period do Price, wholesale (light distillate) Index, 1967 = 100.. Distillate fuel oil: Production mil bbl Imports do.... Stocks, end of period do.... Price, wholesale (middle distillate) Index, 1967=100.. Residual fuel oil: Production mil. bbl.. Imports do.... Stocks, end of period do.... Price, wholesale Index, 1967=100.. Jet fuel: Production Stocks, end of period () r 611.0 968.6 984.6 997.7 1,040.6 () (4) 12.8 '2.3 11.5 2.7 1.0 2.6 0.8 2.7 0.8 2.7 0.6 2.7 0.6 2.7 0.7 2.6 0.5 2.4 0.9 2.5 0.9 2.4 0.9 2.4 1.1 2.4 0.7 2.2 50.1 ll 4 43.6 11 1 2.7 126 3.7 124 4.5 11 1 4.4 96 4.3 91 3.3 88 3.6 96 2.4 89 2.7 92 2.7 91 2.6 95 3.4 98 863.4 1,039.8 1,043.2 1,042.7 1,037.9 1,044.3 1,034.3 1,027.9 1,009.1 975.9 974.2 984.4 982.0 975.2 974 1 51.9 '205.4 9549 61.0 190.2 77 2 3.6 201.2 819 3.4 200.0 887 2.9 190.2 81 1 3.0 166.0 685 3.6 146.7 71 1 1.5 127.7 707 1.8 108.8 812 2.3 114.5 819 3.0 124.6 848 3.8 148.2 783 2.4 158.9 797 1.8 161.2 l 619.5 4 r 850.6 1,058.1 1,056.1 1,047.5 1,060.6 1,067.8 1,058.2 1,029.3 953.6 928.7 974.6 1,024.0 1,018.5 1,001.7 578.4 343.6 '91.5 961.2 480.3 290.6 78.3 1,239.0 38.2 24.0 79.8 1,179.1 36.5 25.3 80.8 1,174.3 40.2 28.5 78.3 1,180.9 36.7 25.4 68.2 1,219.8 31.8 26.0 58.1 1,177.6 34.7 28.2 57.3 1,163.0 34.9 22.9 53.6 1,182.7 34.9 22.9 59.1 1,191.6 32.3 31.9 19.3 17.8 60.5 59.0 1,229.5 1,237.1 31.2 16.1 52.8 1,250.0 30.2 26.1 61.8 1,120.7 "l,125\2 "l,152.8 mil. bbl.. do.... 365.6 '42.4 353.5 40.5 28.0 42.8 28.9 41.9 29.3 40.5 27.8 37.2 28.0 37.0 34.7 42.5 30.3 44.1 27.9 41.8 27.9 40.1 29.9 39.8 30.4 408 29.3 397 do do.... 65 1 '13.6 606 14.2 49 12.9 50 13.9 51 142 43 14.4 41 14.3 43 13.7 45 13.4 46 13.5 46 13.4 46 135 44 134 39 127 do.... do.... 141.2 '18.8 124.2 19.5 10.7 18.4 9.0 17.6 7.6 19.5 ' 6.5 23.1 5.4 24.3 7.0 26.1 8.0 27.1 10.5 27.1 12.4 25.6 13.1 22 1 13.3 174 12.4 146 do.... do.... do.... do.... 561.8 440.9 120.8 '128.0 583.4 467.9 115.6 137.0 49.8 40.6 9.2 148.7 50.0 41.0 9.0 146.4 47.9 40.3 7.6 122.2 41.3 34.8 6.6 113.5 47.2 39.2 8.0 109.0 47.0 39.1 7.8 105.8 49.1 40.4 8.7 107.7 47.1 38.3 8.8 110.9 48.2 389 9.3 111.1 49.3 405 8.9 112.5 48.2 38.9 9.3 111.5 Lubricants: Production Stocks, end of period Asphalt: Production Stocks, end of period Liquefied gases (incl. ethane and ethylene): Production, total At gas processing plants (L.P.G.) At refineries (L.R.G.) Stocks (at olants and refineries) 49.9 41.0 8.9 137.0 PULP, PAPER, AND PAPER PRODUCTS PULPWOOD AND WASTE PAPER Pulpwood: Receipts thous. cords (128 cu.ft.).. Consumption do.. Stocks, end of period do.... Waste paper: Consumption thous sh tons Stocks, end of period do.... WOODPULP Production: Total all grades # Dissolving and special alpha Sulfate Sulfite Groundwood Semichemical thous sh tons do . do.... do.... do.... do Stocks, end of period: Total, all mills Pulp mills Paper and board mills Nonpaper mills do.... do.... do do.. Exports, all grades, total Dissolving and special alpha All other do.... do do.... Imports, all grades total . . Dissolving and special alpha All other do do.... do.... See footnotes at end of tables. 3 81,007 3 3 79,547 3 7,206 7058 5,917 6,258 6459 5,600 5,972 5658 6,045 ( 22 ) () (2) 3 13 185 831 3 13 523 11,042 1 135 949 1016 941 966 993 (2) 52 055 1 418 38,931 1,911 4,887 3938 3 51 783 1 366 39,597 1,812 5,038 3940 4459 113 3,443 154 423 326 4268 129 3,251 147 407 301 3590 85 2,675 130 420 279 1,198 690 454 54 1,267 745 462 60 1,341 842 443 56 1,198 690 454 54 3 3,678 784 3 2,894 274 62 212 267 53 214 315 85 230 221 50 172 303 42 261 319 62 257 316 52 264 326 69 257 302 55 247 261 32 229 279 60 219 298 52 246 237 50 186 3 3 3 3 406 27 379 318 10 308 269 8 262 270 26 244 310 9 301 296 10 286 306 22 284 302 8 294 287 12 275 289 6 283 350 17 333 541 8 533 303 18 285 79,703 6,697 3 79,604 6,045 944 439 449 57 3 3,805 769 3 3,037 4051 194 3,858 4086 201 3,885 (2) (2) (2) (2) (2) (2) (2) (2) (2) (2) (2) SURVEY OF CURRENT BUSINESS December 1982 Unless otherwise stated in footnotes below, data through 1978 and descriptive notes are as shown in the 1979 edition of BUSINESS STATISTICS 1980 1981 S-29 1982 1981 Oct. Annual Nov. Dec. Jan. Feb. Mar. Apr. May June July Aug. Sept. Oct. Nov. PULP, PAPER, AND PAPER PRODUCTS—Continued PAPER AND PAPER PRODUCTS Paper and board: Production (Bu. of the Census): All grades total unadjusted thous. sh. tons.. Paper do Paperboard do. . Wet-machine board do.... Construction paper and board do 65834 30 164 31 143 138 4390 66439 30669 31561 160 3846 5592 2676 2629 14 273 5252 2500 2497 9 247 4693 2309 2 177 9 197 (5) 234.6 2062 258 1 2317 2617 2333 2616 232 1 2600 2303 259.7 2338 261.4 2314 261.1 2396 261.2 2363 2588 2402 255.9 2400 1,475 110 1,498 '1,449 100 1 1,463 117 117 133 95 90 116 122 112 113 113 89 110 112 95 108 123 98 126 140 104 123 116 102 115 4,753 391 4673 '4,853 360 4940 448 324 439 396 319 399 363 308 389 397 343 404 411 361 389 407 332 437 408 336 409 7694 '8,326 '7735 '8,234 677 713 570 655 592 599 628 676 612 658 713 745 Unbleached kraft packaging and industrial converting papers: Shipments thous sh tons '3930 1 3873 311 326 269 M375 '4519 390 373 350 311 355 324 Tissue paper production 365 8,625 8,622 165 8,946 8,915 194 815 795 255 769 773 252 743 800 194 783 671 304 do.... do do.... 4239 4234 21 4753 4735 38 420 417 41 412 407 46 359 367 38 415 406 46 Consumption by publishers fl do.... Stocks at and in transit to publishers, end of period .. .. thous metric tons 10,089 10,165 922 914 892 790 775 868 863 879 732 961 959 947 961 981 1 038 1068 1045 1012 Producer price indexes: Paperboard Building paper and board 1967 — 100.. do Selected types of paper (API): Groundwood paper, uncoated: Orders, new Orders unfilled end of period Shipments thous. sh. tons.. . do . do.... 1 Coated paper: Orders new . Orders unfilled end of period Shipments do.... do do.... 1 Uncoated free sheet papers: Orders new Shipments do do.... 1 do Newsprint: Canada: Production thous. metric tons.. Shipments from mills do.... Stocks at mills, end of period do.... United States: Production .. .. Shipments from mills Stocks at mills, end of period Imports . .. thous sh tons Price, rolls, contract, f.o.b. mill, freight allowed or delivered Index, 1967-100.. Paper products: Shipping containers, corrugated and solid fiber shipments mil so ft surf area Folding paper boxes shipments thous sh tons mil. $.. 1 7279 6977 3 3 279.3 241 377 308.1 244 429 r (5) (5) (S) (5) 255.0 2398 255.5 2438 113 99 118 138 117 121 113 100 124 r !25 104 J21 125 93 138 381 307 408 432 306 431 399 312 400 443 307 443 r 407 r 285 r 448 275 451 641 689 621 669 645 670 610 628 674 705 r 639 r 683 669 702 343 288 272 291 271 406 356 365 358 339 719 709 326 760 750 336 694 703 327 743 718 353 652 611 394 617 615 397 378 376 48 420 413 55 396 374 76 385 376 86 383 381 89 363 351 101 r 804 767 1 003 992 250.7 2428 433 248.0 241 5 307 315 359 380 642 591 448 557 601 405 698 685 418 372 363 110 r 353 r 406 398 118 326 r 383 r 353 110 804 r 922 952 r 861 r 836 898 649 624 557 585 524 608 503 620 570 460 520 489 587 316.8 316.8 316.8 316.8 318.1 318.1 321.1 322.4 319.4 318.4 318.4 318.4 318.4 22 058 18 189 17600 18961 18638 21 218 19 941 18720 20 071 18610 20414 20657 21064 4869 12626 55.71 11972 48.16 6207 59 15 5564 38.67 247.6 240 4 303.7 (2) (2) RUBBER AND RUBBER PRODUCTS RUBBER Natural rubber: Consumption Stocks end of period thous. metric tons.. do 586.15 12667 63467 14243 Imports, incl. latex and guayule ....thous. Ig. tons.. 598.31 662.41 Price, wholesale, smoked sheets (N.Y.).... $ per lb.. 4 4 Synthetic rubber: Production Consumption 0.730 57.32 12297 Kxports (Bu of Census) do thous Ig tons 34177 42278 5459 13836 51 64 13802 5356 13439 5440 6700 56.23 49.13 50.99 59.33 53.86 56.19 63.39 54.35 40.60 54.36 0.456 0.483 0.488 0.465 0.470 0.453 0.453 0.461 0.465 0.468 0.445 0.426 15768 141 13 12551 13188 140.49 14309 14576 13894 170.32 14988 154.86 13463 15544 13307 139.74 13702 117.46 10651 12355 134 91 35257 2394 36438 22 49 34902 21 65 34036 27 76 34043 23 46 35630 31 18 37691 2653 37559 24 73 36358 2523 35790 2040 343 63 22 04 2283 21 13 69.42 0.576 34902 33463 4256 14243 45.71 thous. metric tons.. 2 015.24 2 021 45 16998 do 1 854 01 1 889 71 16375 Stocks end of period 4968 13051 TIRES AND TUBES Pneumatic casings, automotive: Production 181 762 16534 13 750 11 855 14 866 15387 17051 15077 14 856 15669 12293 14835 15528 18 179 3537 14 168 474 13544 2363 10 820 361 14 144 2478 11 365 301 13704 2769 10 573 362 17312 3697 13*216 ? 399 17676 3679 13652 345 16421 3038 13 199 '264 17700 2817 14 625 258 18938 3022 15583 333 36 556 40863 42 904 46 254 47 817 46583 18216 3970 13 989 257 45 337 19428 4 074 15 018 336 33 298 13992 2 758 10 823 411 41 112 43475 40 763 40 192 38685 9058 11088 653 990 485 385 461 614 454 463 653 381 454 385 489 4.557 3.428 268 208 231 141 151 254 174 102 178 195 162 201 192 '159263 do... do do do 177 063 40227 131 271 5565 Stocks end of period do Exports (Bu of Census) do do.... Inner tubes, automotive: Exports (Bu. of Census) See footnotes at end of tables. 1 201 105 41 711 153 716 5678 40863 thous Shipments total Original equipment Replacement equipment Exports 0.421 S-30 SURVEY OF CURRENT BUSINESS 1980 Unless otherwise stated in footnotes below, data through 1978 and descriptive notes are as shown in the 1979 edition of BUSINESS STATISTICS 1981 December 1982 1982 1981 Annual Nov. Oct. Dec. Jan. Mar. Feb. Apr. May June July Aug. Sept. Oct. 35,388 34,527 35,957 35351 34,106 312.3 312.5 312.5 28,009 29,755 Nov. STONE, CLAY, AND GLASS PRODUCTS PORTLAND CEMENT Shipments finished cement thous. bbl.. 1 404,569 '382,452 36,266 29,590 23,495 15,149 17,755 25,729 28,213 30,984 6090 1 101.5 7587 5 1999 919 4622 4313 10.6 41 7 3526 6.1 309 2767 51 21 9 1767 3.2 149 2137 2.7 134 345 1 3.5 233 3709 2.6 259 3984 3.7 290 CLAY CONSTRUCTION PRODUCTS Shipments: Brick, unglazed (common and face) mil standard brick Structural tile except facing .... thous sh tons Sewer pipe and fittings vitrified do Facing tile (hollow), glazed and unglazed mil. brick equivalent.. Floor and wall tile and accessories, glazed and unglazed mi. sq. ft.. 45.4 35.3 3.2 2.4 2.6 1.8 1.6 2.5 3.0 2.4 297.6 287.8 23.7 21.5 22.8 20.7 20.7 27.0 25.7 31.0 280.8 300.2 303.1 303.8 303.8 303.8 304.2 304.2 308.4 309.5 thous. $.. 868 459 952,283 thous. gross.. 327,972 Price index, brick (common), f.o.b. plant or N.Y. dock 1967= 100.. 310.0 r 310.9 GLASS AND GLASS PRODUCTS Flat glass mfrs ' shipments Glass containers: Production Wide-mouth containers: Food and dairy products 321,373 29,305 23,849 do 323 899 r do.... do do.... do 28,075 57848 122,678 24574 28,728 60248 r l!5,680 24003 2,297 4596 r 8681 2 124 1,928 4454 r 8,360 1893 thous. gross.. 61,212 62,404 5,955 5,214 Shipments domestic total $ Narrow-neck containers: Food Beverage Beer Liquor and wine Narrow-neck and wide-mouth containers: Medicinal and toilet Chemical, household and industrial do do.... 26250 3,262 319 022 r 25 119 r 2,840 194,972 226,926 r 26 059 2 172 234 r 24 008 1958 r 201 24,442 26,095 29,204 26,673 27,293 27,934 25,982 r 24 731 23307 27448 26259 26774 28991 25 165 r 1,968 4488 r 8,396 1832 2,517 3696 8,559 2097 2,208 4 103 8,462 1541 2,579 5299 9,503 1947 2,488 5 156 9,509 1865 2,834 2,520 5699 6,326 9,695 10,254 1 852 1,943 5,019 5,491 4,906 5,764 4,989 4,978 5,417 19,912 r 219,074 23 788 1r 849 236 5 r 2r116 255 r !875 r 212 r 2095 r 261 r lr 982 270 1 848 182 2019 198 28 184 26519 2,598 5732 8,661 1607 3,489 r 6029 r 9 111 1777 3,365 5 197 8,261 1849 4,832 r 5,840 1542 193 r do.... 46,966 46,683 50,420 50,278 46,683 46,462 49,124 50,405 51,009 51,433 49,982 50,532 Production: Crude gypsum (exc byproduct) .. thous sh tons.. Calcined do.... 12,376 11,848 11434 11,359 866 924 924 778 862 825 784 872 844 688 820 919 886 971 855 809 949 965 Stocks, end of period 5,752 lr 767 259 r 1 790 217 50,244 52,983 912 923 1009 945 966 971 GYPSUM AND PRODUCTS ® Imports crude gypsum do 7365 7593 623 703 500 375 397 405 218 531 772 469 728 733 Sales of gypsum products: Uncalcined do 5678 4904 452 419 448 308 294 277 327 401 421 384 394 445 do 393 370 36 29 26 25 26 30 40 39 38 34 37 37 do do 232 166 225 157 21 12 18 9 15 10 16 10 17 9 16 7 14 6 16 8 16 7 15 8 mil. sq. ft.. do do.... do.... 14,144 79 338 199 13,759 59 325 208 1,133 4 25 17 982 4 21 15 955 3 21 15 965 4 22 15 876 3 18 15 21 13 1,087 4 25 18 1,100 3 24 20 971 3 20 20 1,120 4 26 25 1098 3 24 22 1 169 4 26 23 do do . do.... do.... 10551 2,638 119 4 220 9295 3446 122 304 752 297 10 28 655 258 9 20 629 258 10 19 633 259 10 23 564 236 9 31 704 286 11 39 716 286 10 41 618 262 9 38 716 299 11 40 702 298 10 38 749 315 11 42 733 303 10 42 r 525 r 200 r 325 3663 3261 s402 673 285 389 646 267 379 Calcined: Industrial plasters Building plasters: Regular basecoat All other (incl Keene's cement) Board products total Lath . Veneer base. Gypsum sheathing Regular gypsum board Type X gypsum board Predecorated wallboard 5/16 mobile home board 1 140 3 23 25 TEXTILE PRODUCTS FABRIC Woven fabric, finishing plants: * Production (finished fabric) Cotton Manmade and silk fiber mil. linear yd.. do.... do 8,420 3,531 4990 8,176 3,212 5 163 668 256 412 828 236 391 3 657 3 255 3 402 495 172 323 550 196 354 3 695 3 255 3 440 540 194 346 531 196 335 3 663 3 259 3 403 366 133 233 Inventories held at end of period Cotton Manmade and silk fiber do.... do do.... 769 339 430 740 317 423 780 329 451 794 334 459 740 317 423 725 284 441 742 312 430 729 314 414 722 306 416 692 293 400 660 282 378 662 282 380 Backlog of finished orders Cotton Manmade and silk fiber do do.... do.... 8495 4,577 4,219 9018 4,711 4,307 687 348 339 642 343 301 601 326 275 580 249 330 575 255 320 585 269 317 592 264 328 554 254 300 529 194 334 485 182 302 2 10,826 2 2 15, 150 2 5539 10,157 13,502 r r 439 178 261 457 185 271 453 1 531 r3 COTTON Cotton (excluding linters): Production: Ginnings fl thous. running bales.. Crop estimate thous. net weight bales §.. Consumption . thous running bales Stocks in the United States, total, end of period # thous. running bales.. Domestic cotton total do On farms and in transit do.... Public storage and compresses do.... Consuming establishments do.... See footnotes at end of tables. 11,122 40 15,646 6 135 5409 448 403 MOO 378 391 9,261 9260 2,502 5,927 831 13,777 13776 3,752 9,268 756 15,628 15627 10906 4,059 662 14,907 14907 7,170 7,064 673 13,777 13776 3752 9,268 756 12,567 12566 2257 9,488 821 11,424 11 422 1810 8,729 883 3 493 410 392 10,060 10058 1,221 7,921 916 8976 8974 953 7,112 909 8,117 8 116 924 6,292 900 3 460 317 386 7,170 7 169 728 5,542 899 6,399 6397 300 5,269 828 16362 16359 10617 4998 744 474 5290 11,947 418 322.1 SURVEY OF CURRENT BUSINESS December 1982 Unless otherwise stated in footnotes below, data through 1978 and descriptive notes are as shown in the 1979 edition of BUSINESS STATISTICS 1980 1981 1981 Oct. Annual S-31 Nov. 1982 Dec. Jan. Feb. Mar. Apr. May June July Aug. Sept. Oct. Nov. TEXTILE PRODUCTS—Continued COTTON AND MANUFACTURES— Cont. Cotton (excluding linters) —Continued Exports thous. running bales.. Imports thous. net-weight bales §.. Price (farm), American upland fl cents per lb.. Price, Strict Low Middling, Grade 41, staple 34 (1-1/16"), average 10 markets cents per lb.. Spindle activity (cotton system spindles): Active spindles, last working day, total Consuming 100 percent cotton Spindle hours operated all fibers, total Average per working day Consuming 100 percent cotton mildo bil.. do . do . Cotton cloth: Cotton broadwoven goods over 12" in width: Production (qtrly ) mil sq yd Orders, unfilled, end of period, compared with avg. weekly production no. weeks' prod.. Inventories, end of period, compared with avg. weekly production no. weeks' prod.. Ratio of stocks to unfilled orders (at cotton mills) end of period Exports, raw cotton equiv. thous. net-weight § bales.. Imports raw cotton equivalent do *7,975 16 74.4 8,021 17 54.5 262 0 62.3 478 0 60.1 737 1 51.2 653 0 49.9 754 0 48.4 873 (6) 50.1 676 4 53.5 484 13 54.2 498 4 54.9 396 1 57.6 342 2 52.1 351 10 54.9 3 3 83.0 60.6 57.5 55.1 57.8 57.3 59.7 62.0 62.4 61.1 65.0 60.4 15.9 60 1024 0388 420 15.4 55 918 0357 336 15.4 54 74 0371 26 15.3 55 70 0349 25 15.4 55 4 69 0278 4 25 15.4 55 65 0327 23 15.3 55 68 0339 24 15.3 55 4 83 0 4414 30 15.2 55 67 0337 25 15.3 56 66 0327 25 14.9 56 4 78 0310 4 29 14.9 55 54 0268 20 4456 3913 12.7 12.8 15.3 12.5 12.7 11.5 9.6 8.8 6.3 71.5 S 15.8 5 4.2 5 14.1 983 1 002 14.6 293 1 59.8 "61.0 59.0 58.6 58.2 14.7 54 r 6.3 r 0314 24 14.6 53 4 77 0306 r4 28 14.5 53 12.7 10.7 9.2 8.6 7.2 11.2 8.7 5.9 5.8 0.68 r 25 953 5.6 5.8 6.4 6.7 6.8 7.0 7.3 7.1 0.29 0.40 0.46 0.50 0.46 0.45 0.56 0.58 0.62 0.65 0.82 088 0.81 0.63 540.2 5670 345.6 7663 27.5 718 26.6 667 21.9 589 182 665 18.6 55 1 204 474 20.6 454 24.3 54 1 248 478 227 41 4 157 487 18.4 493 308.5 4433 257.0 4606 54.8 1117 529 954 37928 4 191 1 1 041 1 8342 9408 2632 7854 8646 2069 MANMADE FIBERS AND MANUFACTURES Fiber production, qtrly: Filament yarn (acetate) mil. lb.. Staple incl t o w (rayon) . . . . . do.. Noncellulosic, except textile glass: Yarn and monofilaments do Staple, incl. tow do.... Textile glass fiber do Fiber stocks, producers', end of period: Filament yarn (acetate) Staple incl tow (rayon) Noncellulosic fiber, except textile glass: Yarn and monofilaments Staple, incl. tow Textile glass fiber 37253 4 1482 8673 mil lb do.... 184 272 143 31 1 143 31.1 135 382 do. . do.... do . 2893 287.0 104 1 3370 327.8 1462 3370 329.8 1462 3307 3403 1518 10,774.1 39806 11,448.7 3911 4 503.9 5350 6,431.4 584.1 4,517.0 10022 2,764.9 9009 120.3 1257 1,596.3 92.0 1 182.6 2394 23523 7690 955 1103 1 3263 30.5 1 0093 2253 Manmade fiber and silk broadwoven fabrics: Production (qtrly.), total # mil. sq. yd.. Filament yard (100%) fabrics # do ... Chiefly rayon and/ or acetate fabrics do.... Chiefly nylon fabrics . . do . Spun yard (100%) fab., exc. blanketing #.. do.... Rayon and/or acetate fabrics, blends do.... Polyester blends with cotton do.... Filament and spun yarn fabrics do Manmade fiber gray goods, owned by weaving mills: Ratio stocks to unfilled orders end of period Prices, manufacturer to mfr., f.o.b. mill: 50/50 polyester/carded cotton printcloth, gray, 48", 3.90 yds./lb., 78x54-56 $ per yd. Manmade fiber manufactures: Exports, manmade fiber equivalent mil. Ibs.. Yarn tops thread cloth do Cloth woven do ... Manufactured prods apparel furnishings do 5,899.6 430.2 4,342.9 7638 2 282.0 8344 1058 1100 1 1897 28.7 9013 2234 0.510 771.54 41864 24977 35291 637.73 31889 20848 31884 50.98 2460 1597 2638 46.95 23 16 1551 2379 38.08 1900 1274 19 09 34.90 1620 972 1870 38.35 17 13 10 13 21 22 39.72 18 10 1148 21 61 35.96 1567 1059 2029 42.01 1842 12 11 2359 44.21 2065 1336 2356 33.93 16 12 1066 1780 33.13 1470 932 18 44 35.86 1606 11.29 1980 do do.... do do ... do.... do . 54064 9748 6728 2 443 15 378.52 18774 63908 13052 9538 50856 434.87 18470 6724 12.33 846 5492 47.43 2275 49 12 1056 802 3856 31.96 1263 3951 771 583 3180 25.97 864 53 18 1088 774 4230 3648 1246 4807 873 658 3934 33.95 11 22 4774 933 682 3841 3229 1055 40 14 958 679 3056 2539 856 6785 1227 874 5558 40.45 1532 91 93 1248 9 14 7946 53.04 2176 7734 950 6 58 6783 4358 1780 10005 14 40 10 44 8565 6091 2641 8275 1295 909 6980 48.38 21 52 WOOL AND MANUFACTURES Wool consumption, mill (clean basis): Apparel class mil. lb. Carpet class do Wool imports clean yield do Duty-free (carpet class) do.... 1134 100 565 26.0 1278 109 2 753 26.1 94 1i 60 1.8 94 07 51 2.0 11.2 4 10 53 2.0 94 07 80 2.1 96 09 63 1.6 128 4 10 66 1.8 90 07 49 2.0 8.2 09 60 2.0 4 94 4 08 66 2.6 59 06 40 1.7 5 2.45 5 5 2.78 5 2.83 3.16 2.83 3.17 2.83 3.12 275 3.01 2.63 3.03 244 3.13 240 3.23 2.40 3.36 2.40 3.21 240 3.04 1583 1650 33 1 38 1 36 1 10584 9906 2176 2140 2427 16808 179 401 18,162 70 152 26.704 14845 136 176 13,605 91025 30.322 Imports manmade fiber equivalent Yarn tops, thread, cloth Cloth woven Manufactured prods, apparel furnishings Apparel, total Knit apparel Wool prices, raw, shorn, clean basis, delivered to U.S. mills: Domestic —Graded territory, 64's, staple 2-3/4" and up cents per lb.. Australian, 64's, Type 62, duty-paid do.... Wool broadwoven goods, exc. felts: Production (qtrly ) mil. sq. yd.. 3.09 3.16 4 4 FLOOR COVERINGS Carpet, rugs, carpeting (woven, tufted, other), shipments quarterly mil. sq. yds APPAREL Women's, misses', juniors' apparel cuttings: Coats thous units. Dresses do... Suits (incl. pant suits, jumpsuits) do... Skirts do . Blouses thous. dozen. See footnotes at end of tables. 1 419 9961 1,026 7035 2.641 849 8 152 939 6461 2.178 639 8015 813 5 192 2.097 r 80 10 42 2.0 4 82 4 240 2.94 240 2.87 12 47 1.8 2.76 2.69 SURVEY OF CURRENT BUSINESS S-32 Unless otherwise stated in footnotes below, data through 1978 and descriptive notes are as shown in the 1979 edition of BUSINESS STATISTICS 1980 1981 Annual December 1982 1982 1981 Oct. Nov. Dec. Jan. Feb. Mar. Apr. May June July Aug. 22.248 23,888 29.632 22,725 Sept. Oct. Nov. TEXTILE PRODUCTS—Continued APPAREL— Continued Men's apparel cuttings: Suits thous units Coats (separate) dress and sport .. . do. Trousers (separate), dress do.... Slacks (jean cut) casual do Shirts dress and sport thous doz Hosiery, shipments thous. doz. pairs.. 14 074 16,906 124,011 253 640 40988 286,379 14686 14686 175 445 38 112 304.826 1 367 1682 13360 3 107 27,141 1227 1433 10052 2864 24.125 1 139 1,312 10 178 2 441 19.796 25.065 21.634 23.902 23,898 TRANSPORTATION EQUIPMENT AEROSPACE VEHICLES Orders new (net) qtrly total @ mil $ U.S. Government do. . Prime contract do Sales (net), receipts, or billings, qtrly total.... do.. . U S Government do Backlog of orders, end of period # 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 $ Aircraft (complete); Shipments # # do.... Airframe weight # # thous. lb.. Exports, commercial ii mil. $.. 70409 33,497 68407 58,440 26674 70912 38747 69024 68,865 32691 18485 10,588 17893 18,693 9226 20078 11,016 19406 16,719 8740 18469 10,908 17951 18,073 9294 90,517 37,200 47,186 11,595 92,564 43256 43,690 12959 92,564 43256 43,690 12959 95,923 45532 46,479 13534 96,319 47,146 46,103 13446 8572 9 164 9 164 10988 10873 10330 13885 13885 11981 13070 13,043.1 97,068 8,250 13,195.0 89,076 8,551 781.4 5,067 538 10177 7,025 476 15924 9,871 952 708.3 4,187 504 7742 3,993 369 1,122.0 5,857 809 8060 4,270 412 956.5 5,045 453 7399 4,059 434 5640 3,437 445 466 1 2,801 370 650.1 4,271 77 378 MOTOR VEHICLES (NEW) Passenger cars: Factory sales (from U S plants) total Domestic thous do.... 3 6400 3 5,840 6225 5,749 520 486 425 394 370 344 273 256 320 302 469 431 488 441 510 468 561 523 439 405 356 334 429 406 Retail sales, total, not seasonally adj t Domestics § Imports § Total, seas, adjusted at annual rate t Domestics § ... Imports § do.... do do. mildo do. . 8,979 6581 2398 8,535 6209 2326 649 492 585 432 152 7.7 54 23 523 358 165 7.2 49 23 535 368 166 7.9 54 25 632 457 175 8.4 62 22 777 576 201 7.7 56 2.0 669 499 170 7.3 54 18 774 584 1908.2 62 20 651 452 199 6 7.0 6 48 6 22 630 430 200 7.4 51 22 609 409 200 7.6 54 22 671 488 183 8.3 60 23 656 488 169 7.9 55 24 1,490 1494 1,471 1495 1,325 1241 1,247 1 171 1,256 1,187 1,213 1 146 1,377 1 378 1,379 1531 1,350 1481 1,296 1412 . Registrations,H new vehicles, excluding buses not produced on truck chassis thous. . Truck trailers and chassis, complete (excludes detachables), shipments numberVans do. Trailer bodies (detachable), sold separately do.... Trailer chassis (detachable), sold separately do.... RAILROAD EQUIPMENT Freight cars (new), for domestic use; all railroads and private car lines (excludes rebuilt cars and cars for export): Shipments numberEquipment manufacturers do.... New orders do Equipment manufacturers do.... Unfilled orders, end of period do.... Equipment manufacturers do.... Freight cars (revenue), class 1 railroads (AAR): $ Number owned, end of period .. thous Held for repairs, % of total owned Capacity (carrying), total, end of mo mil. tonsAverage per car tons See footnotes at end of tables. 415 1,520 1,440 2.6 607.80 509.13 3,310.7 5948 8,761 2469 1,471 1 495 2.9 538.12 470.86 2,998.6 5639 8,444 2432 1,481 1528 3.5 35.22 28.41 240.4 488 654 182 3.3 29.73 24.95 237.3 589 3.7 3.1 45.70 42.55 309.5 71 2 38.66 35.72 275.5 833 3.2 34.29 32.27 261.9 44 i 3.1 40.21 36.03 285.7 704 2.6 49.59 45.72 249.2 732 3.0 17.27 13.42 259.9 37 1 2.4 23.87 19.46 195.9 580 3.4 29.18 22.37 233.7 457 21.18 18.39 263.0 477 27.42 23.48 262.8 49 5 614 169 612 184 509 159 546 164 626 176 672 186 708 189 717 206 626 203 627 214 26.30 23.70 217.4 61 0 625 200 3 1,667 3 1,700 1513 165 152 123 112 127 115 116 108 144 133 197 184 183 169 193 180 212 197 166 154 142 134 155 146 1,746.6 5 73.9 5 151.7 127.2 4.9 11.4 130.8 4.3 11.2 114.2 5.3 13.6 173.4 3.9 14.6 182.0 3.4 12.2 196.0 3.3 12.6 165.6 3.8 13.2 198.5 4.7 12.4 154.1 4.2 11.7 156.3 4.1 9.8 141.8 7 3.4 7 10.4 192.1 4.2 10.1 5 5740 190.32 5 5594 170.50 5482 11.95 5475 10.77 5755 8.97 5170 8.22 4924 11.46 4739 12.68 510 6 12.37 521 5 12.89 5660 13.81 622 5 9.17 691 7 7.80 668 3 6.62 1,133.28 838.92 78.55 6997 72.29 7480 57 15 8200 73.68 7163 73.27 51 73 5650 5733 54 44 2,477 2185 171 169 180 156 171 208 219 226 226 197 193 182 193 thous.. do.... do.... do Registrations H, total new vehicles do.... Imports, incl. domestically sponsored do Trucks and buses: Factory sales (from U.S. plants), total thous.. Domestic do Retail sales, seasonally adjusted: t Light-duty, up to 14,000 Ibs. GVW do.... Medium-duty, 14,001-26,000 Ibs. GVW do.... Heavy-duty, 26,001 Ibs. and over GVW doRetail inventories, end of period, seasonally adjusted t . . . thous Exports (BuCensus), assembled units do.... Imports (BuCensus), including separate chassis and bodies thous.. 7.4 53 2.1 Retail inventories, end of period, domestics: § t Not seasonally adjusted thous.. Seasonally adjusted . . do. Inventory-retail sales ratio, domestics § t Exports (BuCensus), assembled cars To Canada Imports (BuCensus), complete units # # From Canada total . . 157 2 1464 5 1,963.5 5 92.3 5 175.7 4 5 136,702 86,248 11,849 14,202 117,635 70928 7,239 8,615 11,060 7378 542 510 9,408 6 109 404 817 '85,920 '80,357 '43 955 '40,140 52,370 47,866 '44,901 '41,435 '17916 '17,288 16,485 14,819 2,900 2,656 1013 638 18,831 16,685 2,063 1,839 860 860 17,724 15,802 1 168 8.8 92.56 7924 1 111 6.9 89.37 80 43 1 119 7.2 89.73 r rgQ 17 1 116 70 89.64 80 30 1,432 1 383 2.5 2.2 1,364 1 247 6 6 3.1 7 2 141 2 126 579 6 8,453 5300 440 846 8,023 5240 504 790 8,382 5388 376 598 6,046 4025 305 680 597 6,876 4896 275 320 1,995 2,711 1,833 2,455 1 811 815 815 1,811 16,485 14,735 14,819 13,231 1,762 1,526 753 753 13,486 12,218 2,247 2,032 1485 M85 12,599 11,546 2,443 2,265 539 539 10,560 9,685 1,794 1,694 487 487 9,253 8,478 1,339 1,244 586 586 8,500 7,820 1,369 1,369 179 179 7,187 6,507 1,060 992 373 373 6,829 6,217 967 913 583 583 5,895 5,337 890 650 884 134 5,283 4,710 1095 76 88.48 80 84 1090 77 88.19 80 92 1083 80 87.71 81 02 1077 81 87.47 81 19 1 069 79 86.94 81 35 1059 83 86.24 81 44 1 053 84 85.86 81 54 1 100 76 88.76 80 71 2.1 647 7 10.31 8 9,903 6355 429 817 1 105 74 89.02 80 58 1,164 1 221 192.7 3.6 9.8 8,418 4928 203 564 1 110 70 89.32 80 48 743 558 185 9.4 68 26 142.1 3.4 9.3 7,476 4327 252 449 1 111 69 89.37 80 43 404 655 195 r 7,826 r 5582 r 228 r 9,628 5611 336 561 2 S-33 SURVEY OF CURRENT BUSINESS December 1982 FOOTNOTES FOR PAGES S-l THROUGH S-32 General Notes for all Pages: r p e c Revised, Preliminary, Estimated, Corrected. Page S-l Page S-8 t Revised series. See Tables 2.6 - 2.9 in the July 1982 SURVEY for revised estimates back to 1977. Pre-1977 estimates are available in The National Income and Product Accounts of the United States, 1929-76: Statistical Tables. $ Includes inventory valuation and capital consumption adjustments. * New series. Detailed descriptions begin on p. I S o f t h e Nov. 1979 SURVHY. See note "t" for this page for information on historical data. § Monthly estimates equal the centered three-month average of personal saving as a percentage of the centered three-month moving average of disposable personal income. 1. Advance Estimate. 11 Home mortgage rates (conventional first mortgages) are under money and interest rates on p. S-14. § Data include guaranteed direct loans sold. $ Effective Oct. 1982 SURVHY, seasonally adjusted wholesale trade data have been revised for Jan. 1981-March 1982. Effective April 1982 SURVEY, wholesale trade data have been revised for Jan. 1972-Dec. 1981. Revised data are available upon request. t Effective April 1982 SURVEY, retail trade data have been revised for the years 1972-1981. Revised data and a s u m m a r y of the changes are available from the Census Bureau, Washington, D.C. 20233. # Includes data for items not shown separately. PageS-2 1. Based on data not seasonally adjusted. * Includes data not shown separately. Page S-9 | Revised series. For wholesale see note "$" for p. S-8. For manufacturing see note "t" 1. Advance estimate. for p. S-3. For retail see note "t" for p. S-8. 2. Effective Jan. 1979 data, sales of mail-order houses are included with department store t See note "t" for p. S-3. sales. § See note "t" for p. S-8. 3. As of July 1. (oj See note "$" for p. S-8. # Includes data for items not shown separately. * New series. Data back to 1967 are available from the National Income and Wealth $ Revisions for Jan. 1977-Oct. 1979 appear in "Current Population Reports," Series P-25, Division, Bureau of Economic Analysis. No. 870, Bureau of.the Census. U Effective with the February 1982 SURVEY, the labor force series have been revised back to 1970 to reflect the 1980 Census of Population. Seasonal adjustment factors were revised Page S-3 accordingly. Revised monthly series appear in the February 1982 issue of Employment and $ Revised series. For wholesale see note "t" for p. S-8. For manufacturing see note "t" Earnings. Revised annual series will appear in the March 1982 issue of Employment and for this page. For retail see note "t" for p. S-8. Earnings, U.S. Department of Labor, Bureau of Labor Statistics. t Revised series. Data have been revised back to 1972. A detailed description of these # New series. The participation rate is the percent of the civilian noninstitutional popularevisions and historical data appear in the reports "Manufacturers' Shipments, Inventories, tion in the civilian labor force. The employment-population ratio is employment as a percent and Orders" M3-1.10 (1972-1980) and M 3 - l . l l (1977-81), available from the Bureau of of the total noninstitutional population, 16 years and over. the Census, Washington, D.C. 20233. t See note "t" for p. S-8. § See note "t" for p. S-8. ® See note "$" for p. S-8. PageS-10 * New series. Data back to 1967 are available from the National Income and Wealth Division, Bureau of Economic Analysis. t Effective June 1982 SURVEY, data have been revised back to 1977 based on March 1981 * Includes data for items not shown separately. benchmark levels and updated seasonal adjustment factors. See "BLS Establishment Estimates Revised to March 1981 Benchmarks," in the June 1982 issue of Employment and Earnings. Effective July 1981 SURVEY, data have been revised back to 1974 to reflect new benchmarks Page S-4 and new seasonal adjustment factors. See "BLS Establishment Estimates Revised to March 1980 Benchmarks," in the July 1981 issue of Employment and Earnings. 1. Based on data not seasonally adjusted. H See note "U" for p. S-9. t See note "t" for p. S-3. # Includes data for items not shown separately. $ Includes textile mill products, leather and products, paper and allied products, and Page S-l1 printing and publishing industries; unfilled orders for other nondurable goods industries are t Seenote"t"onp.S-10. /ero. | This series is not seasonally adjusted because the seasonal component is small relative to H For these industries (food and kindred products, tobacco, apparel and other textile products, the trend-cycle and/or irregular components and consequently cannot be separated with petroleum and coal, chemicals and allied products, and rubber and plastics products) sales sufficient precision. are considered equal to new orders. H Production and nonsupervisory workers. Page S-5 1. Based on unadjusted data. t See note "t" for p. S-3. <& Compiled by Dun & Bradstreet, Inc. # Includes data for items not shown separately. § Ratio of prices received to prices paid (parity index). U Revisions, back to 1975 for some commodities, are available upon request. $ See note "$" for p. S-4. Page S-6 § For actual producer prices of individual commodities see respective commodities in the Industry section beginning p. S-19. All data subject to revision four months after original publication. t Revised series. Stage-of-processing producer price indexes have been revised back to 1976 to reflect updated industry input-output relationships and improved classification of some products. # Includes data for items not shown separately. $ Effective Feb. 1982, data have been revised back to 1977 to reflect new seasonal factors. PageS-7 1. 2. # § four Computed from cumulative valuation total. Index as of Dec. 1, 1982: building, 339.6; construction, 366.0. Includes data for items not shown separately. Data for Oct. 1981,and Jan., Apr., July, and Sept. 1982 are for five weeks; other months weeks. PageS-12 1. This series has been discontinued. t See corresponding note on p. S-10. 11 Production and nonsupervisory workers. $ Earnings in 1977 dollars reflect changes in purchasing power since 1977 by dividing by Consumer Price Index. § Wages as of Dec. 1, 1982: Common, $14.77; Skilled, $19.26. PageS-13 1. Average for Dec. 11 Effective April 1982 SURVEY, the series for work stoppages involving six or more workers have been discontinued and have been replaced by series for work stoppages involving 1,000 or more workers. # Includes data for items not shown separately. § For demand deposits, the term "adjusted" denotes demand deposits other than domestic commercial bank and U.S. Government, less cash items in process of collection; for loans, exclusive of loans to and Federal funds transactions with domestic commercial banks and include valuation reserves (individual loan items are shown gross; i.e. before deduction of valuation reserves). * New series. Beginning Dec. 1978, data are for all investment account securities; comparable data for earlier periods are not available. (a, Insured unemployment (all programs) data include claims filed under extended duration provisions of regular State laws; amounts paid under these programs are excluded from state benefits paid data. @@ Insured unemployment as a percent of average covered employment in a 12-month period. SURVEY OF CURRENT BUSINESS S-34 December 1982 PageS-14 PageS-18 1. Data are for fiscal years ending Sept. 30 and include revisions not distributed to the months. 2. Average for the year. 3. Daily average. 4. Beginning Jan. 1981, data are for top-rated only. Prior data cover a range of top-rated and regional dealer closing rates. See also note 3 for this page. 5. Beginning Oct. 1981, data represent the total surplus or deficit (budget surplus or deficit plus off-budget surplus or deficit). 6. Interest rate charged as of Nov. 1, 1982 was 12.48. # Includes data for items not shown separately. § The Department of Health, Education, and Welfare was redesignated as the Department of Health and H u m a n Services by the Department of Education Organization Act. f] Adjusted to exclude domestic commercial interbank loans and Federal funds sold to domestic commercial banks. $ Rates on the commercial paper placed for firms whose bond rating is Aa or the equivalent. Data through Oct. 1979 show a m a t u r i t y for 120-179 days. Beginning Nov. 1979, maturity is for 180 days. (s Data through Oct. 1979 show a m a t u r i t y for 150-179 days. Beginning Nov. 1979, maturity is for 180 days. $$ Courtesy of Metals Week. (n(a Average effective rate 1. See note 1 for p. S-16. 2. A n n u a l total; quarterly or m o n t h l y revisions are not available. 3. Before e x t r a o r d i n a r y and prior period items. 4. For month shown. 5. Domestic t r u n k operations only (averaging about 90 percent of domestic total). 6. See note 2 for p. S-17. # Includes data for items not shown separately. § Total revenues, expenses, and income for all groups of carriers also reflect nonscheduled service. $ Beginning Jan. 1977, defined as those having operating revenues of $50 million or more. fl Average daily rent per room occupied, not scheduled rates. (« Effective J a n u a r y 1, 1980, contract carriers are not included because the data filed by these carriers were substantially reduced in scope, in accordance with the ICC revised reporting regulations. PageS-15 1. M 1-A has been discontinued. M 1-B will now be designated "M 1." t Effective Feb. 1982 SURVHY. the money stock measures and components have been revised back to 1959. The Federal Reserve has redefined the monetary aggregates. The redefinition was prompted by the emergence in recent years of new monetary assets:—for example, negotiable order of withdrawal (NOW) accounts and money market mutual fund shares—and alterations in the basic character of established monetary assets—for example, the growing similarity of and substitution between the deposits of thrift institutions and those of commercial banks. M o n t h l y data from 1959 to date are available from the Banking Section of the Division of Research and Statistics at the Federal Reserve Board, Washington, D.C. 20551. $ Composition of the money stock measures is as follows: A/7.—This measure is currency plus demand deposits at commercial banks and interest-earning checkable deposits at all depositary institutions—namely NOW accounts, automatic transfer from savings (ATS) accounts, and credit union share draft balances—as well as a small a m o u n t of demand deposits at thrift institutions that cannot, using present data sources, be separated from interest-earning checkable deposits. A/2.—This measure adds to M l overnight repurchase agreements (RP's) issued by commercial banks and certain overnight Eurodollars (those issued by Caribbean branches of member banks) held by U.S. nonbank residents, money market mutual fund shares, and savings and small-denomination time deposits (those issued in denominations of less than SI00,000) at all depositary institutions. Depositary institutions are commercial banks (including U.S. agencies and branches of foreign banks, Edge Act corporations, and foreign investment companies), m u t u a l savings banks, savings and loan associations, and credit unions. M3.—This measure equals M2 plus large-denomination time deposits (those issued in denominations of $100,000 or more) at all depositary institutions (including negotiable CD's) plus term RP's issued by commercial banks and savings and loan associations. L.—This broad measure of liquid assets equals M3 plus other liquid assets consisting of other Eurodollar holdings of U.S. nonbank residents, bankers acceptances, commercial paper, savings bonds, and marketable liquid Treasury obligations. $$ Includes ATS and NOW balances at all institutions, credit union share draft balances, and demand deposits at mutual savings banks. # Overnight (and continuing contract) RP's are those issued by commercial banks to the nonbank public, and overnight Eurodollars are those issued by Caribbean branches of member b a n k s to U.S. nonbank customers. fe Small time deposits are those issued in amounts of less than $100,000. Large time deposits are those issued in amounts of $100,000 or more and are net of the holdings of domestic banks, thrift institutions, the U.S. Government, money market mutual funds, and foreign banks and official institutions. # Includes data for items not shown separately. § N u m b e r of issues represents number currently used; the change in number does not affect the continuity of the series. PageS-16 1. Beginning Jan. 1981 data, U.S. Virgin Islands trade with foreign countries is included. § Number of issues represents number currently used; the change in number does not affect the continuity of the series. $ For bonds due or callable in 10 years or more. # Includes data for items not shown separately. (& Data may not equal the sum of the geographic regions, or commodity groups and principal commodities, because of revisions to the totals not reflected in the component items. PageS-17 1. See note 1 for p. S-16. 2. Beginning Jan. 1982 data, the Customs value is being substituted for the f.a.s. value. # Includes data not shown separately. § Data may not equal the sum of geographic regions, or commodity groups and principal commodities, because of revisions to the totals not reflected in the components. PageS-19 1. Reported a n n u a l total; m o n t h l y revisions are not available. 2. Data withheld to avoid disclosing operations of individual companies. 3. Beginning Jan. 1981, data represent gross weight (formerly phosphoric acid content weight) and are not comparable with data shown for earlier periods. 4. A portion of data is being withheld to avoid disclosing information for individual companies; not comparable w i t h other published data. 5. Beginning Jan. 1980 data, another company is included. 6. A portion of data is being suppressed because of not meeting publication standards. For nitrogen solutions, see also note 4 for this page. 7. Less than 500 short tons. # Includes data for items not shown separately. § Data are reported on the basis of 100 percent content of the specified material unless otherwise indicated. $ Revisions, back to 1977 for some commodities, are available upon request. f Data for Jan. 1977-June 1979 exclude potassium magnesium sulfate; not strictly comparable with data shown for other periods. Page S-20 1. Reported a n n u a l total; monthly revisions are not available. 2. Annual total includes Hawaii; not distributed to the months. 3. Beginning 1982, the reporting frequency has been changed from a monthly to a quarterly basis. Revised quarterly data for 1979 through 1981 are available upon request. 4. Reported a n n u a l total, including Hawaii; m o n t h l y data are preliminary and subject to change. § Data are not wholly comparable from year to year because of changes from one classification to another. $ Revisions back to 1977 are available upon request. PageS-21 1. Average for three months, price not available for Apr.-Dec. 2. Crop estimate for the year. 3. Stocks as of June 1. 4. Stocks as of J u n e 1 and represents previous year's crop; new crop not reported until J u n e (beginning of new crop year). 5. Previous year's crop; new crop not reported u n t i l Oct. (beginning of new crop year). 6. See note "(a (a" for this page. 7. Data are no longer available. 8. See note 4 for p. S-22. 9. October 1 estimate of the 1982 crop. 10. November 1 estimate of the 1982 crop. § Excludes pearl barley. # Bags of 100 Ibs. 51 Revised crop estimates back to 1975 are available upon request, (s. Revisions, back to 1977, for some commodities, are available upon request. $ Revisions back to 1975 are available upon request. (afe Data are quarterly except for June (covering Apr. and May) and Sept. (covering June-Sept.). PageS-22 1. Average for 1 1 months; price not available for Dec. 2. Average for nine months; index not available for Apr.-June. 3. Data are no longer available. 4. Effective with this reporting, data are for three-month intervals. § Cases of 30 dozen. fl Bags of 132.276 Ibs. $ Revisions for Jan.-July 1979 (back to 1975 for grindings of wheat) are available upon request. (« Revisions back to 1977 are available upon request. # Effective Apr. 1981 SURVHY, the wholesale price of smoked hams has been discontinued and has been replaced with the comparable price index. A n n u a l indexes prior to 1979 and m o n t h l y indexes prior to Feb. 1980 are available upon request. SURVEY OF CURRENT BUSINESS December 1982 Page S-29 Page S-23 1. Crop estimate for the year. 2. Average for seven months; price not available for J u l y , Aug., and Oct.-Dec. 3. A n n u a l total; m o n t h l y revisions are not available. 4. Data are no longer available. 5. October 1 estimate of the 1982 crop. 6. November 1 estimate of the 1982 crop. § M o n t h l y data reflect cumulative revisions for prior periods. $ Revisions back to 1975 are available upon request. * New series. Source: Bureau of Labor Statistics. # Totals include data for items not shown separately. S-35 1. Reported a n n u a l total; revisions not distributed to the months. 2. Effective J a n . 1980, data are no longer available. 3. Average for I I months; no price for Aug. 1980 or J u n e 1981. 4. Average for 11 months; no price available for Nov. 1980 or for Oct. 1981. 5. M o n t h l y data w i l l be discontinued as of April 1982 S L R V H Y . due to budgetary limitations. The related a n n u a l report, MA26A, will c o n t i n u e to be published. * Source: American Paper Institute. Total U.S. estimated consumption by all newspaper users. ij M o n t h l y data are averages of the 4-week periods ending on the Saturday nearest the end of the month; a n n u a l data are as of Dec. 31. $ Data are monthly or a n n u a l totals. Formerly weekly averages were shown. Page S-24 1. A n n u a l data; m o n t h l y revisions not available. 2. Less t h a n 500 short tons. PageS-25 1. A n n u a l data; m o n t h l y revisions are not available. 2. For month shown. 3. Effective Jan. 1981, data are revised back to Jan. 1980. Inventory data formerly calculated by the Bureau of the Census are now based on the Steel Service Center Institute monthly Business Conditions report. Page S-26 1. A n n u a l data; monthly revisions are not available. 2. Less t h a n 50 tons. *1 Includes secondary smelters' lead stocks in refinery shapes and in copper-base scrap. fe All data (except a n n u a l production figures) reflect GSA remelted zinc and zinc purchased for direct shipment. $ Source for m o n t h l y data: American Bureau of Metal Statistics. Source for a n n u a l data: Bureau of Mines. # Includes data not shown separately. t Effective J u l y 1980 S U R V H Y , data are revised and shown on a new base. The sample size has been restored to 100 firms and the base has been changed to 1977= 100. The revised series are not comparable to previously published data. * New series. These indexes are based on shipments of hydraulic and pneumatic products reported by participating members of the N a t i o n a l Fluid Power Association. Data back to 1959 are available upon request. PageS-27 1. Effective Jan. 1980, total stocks for b i t u m i n o u s coal and lignite exclude residential and commercial stocks and are not comparable with data shown for earlier periods. 2. Data are for five weeks; other months 4 weeks. 3. Based on new 1981 stock level. See also note "$" for this page. 4. For month shown. # Includes data for items not shown separately. (a Beginning July 1977, data are representive of those manufacturers reporting and are not an average of the total industry; they are not directly comparable with earlier data. * New series. A n n u a l data prior to 1978 and m o n t h l y data prior to April 1979 are available upon request. § Includes nonmarketable catalyst coke. II Includes small amounts of "other hydrocarbons and alcohol new supply (field production)," not shown separately. t Revisions for 1978 are available upon request. $ Effective with 1981 petroleum data, the Energy Information Agency has changed some definitions and concepts to reflect recent developments in refining and blending practices. These changes include adding a category for gasohol production to motor gasoline production and accounting more precisely for distillate and residual fuel oil processed further after i n i t i a l distillation. A description of these changes appears in the May 1981 issue of Monthly Energy Review, U.S. Department of Energy, Energy Information Administration. Page S-28 1. Based on new 1981 stock level. See also note "J" forp.S-27. 2. See note 5 for p. S-29. 3. Reported a n n u a l totals; revisions not allocated to the months. 4. Simple averages of prices are no longer available. H Prices are mid-month, include taxes, and represent full service; comparable prices prior to Jan. 1979 are not available. # Includes data for items not shown separately. * New series. See note "H" for this page. $ Except for price data, see note "$" for p. S-27. Page S-30 1. Reported a n n u a l total; revisions not allocated to the months. 2. Crop for the year. 3. Data cover five weeks; other months, four weeks. 4. Data are not available prior to Jan. 1980. 5. See note "$" for this page. * New series. Data for finishing mills have replaced data for weaving mills, which are no longer available. # Includes data for items not shown separately. f ! C u m u l a t i v e ginnings to the end of month indicated. § Bales of 480 Ibs. $ Beginning Jan. 1982, shipments include those for direct export; such shipments for 1980-81 were (thous. gross): 2,316 and 2,165 respectively. (« A n n u a l totals are based on advance summaries and reflect revisions not distributed to the months. PageS-31 i. Effective J a n . 1, 1978, includes reexports, formerly excluded. 2. A n n u a l total includes revisions not distributed to the months. 3. Average for crop year; Aug. 1-Jul. 31. 4. For five weeks; other months four weeks. 5. M o n t h l y average. 6. Less than 500 bales. § Bales of 480 Ibs. *! Based on 480-lb. bales, preliminary price reflects sales as of the 15th; revised price reflects total q u a n t i t y purchased and dollars paid for the entire m o n t h (revised price includes discounts and premiums). $ Includes data not shown separately. PageS-32 1. A n n u a l total includes revisions not distributed to the months. 2. Estimates of production, not factory sales. 3. Beginning Jan. 1979, data reflect the inclusion of Volkswagens produced in the U. S. Beginning J a n . 1980, passenger vans (previously reported as passenger cars) are included with trucks. 4. M o n t h l y data for 1980 as published in earlier issues of the S U R V H Y . exclude exports for off-highway trucks; not strictly comparable with data shown for other periods. Such exports have since been included in the monthly data and are available upon request. 5. Based on unadjusted data. 6. See note "t" for this page. 7. Effective with the September 1982 S U R V E Y , retail sales of trucks have been restated back to Jan. 1982 to include U.S.-built Mercedes-Benz trucks (19,501 - 33,000 Ibs.); comparable stock data, prior to Aug. 1982, are not available. 8. See last sentence of note 4 for this page. # Total includes backlog for nonrelated products and services and basic research. § Domestics comprise all cars assembled in the U.S. and cars assembled in Canada and imported to the U.S. under the provisions of the Automotive Products Trade Act of 1965. Imports comprise all other cars. *! Courtesy of R.L. Polk & Co.; republication prohibited. Because data for some states are not available, month-to-month comparisons are not strictly valid. $ Excludes railroad-owned private refrigerator cars and private line cars. t Revisions, back to 1967 for some commodities, are available upon request. Effective w i t h the J u l y 1982 S U R V E Y , seasonally adjusted data for passenger cars have been revised back to Jan. 1977 and are available upon request. (n In the 1979 BUSINESS STATISTICS, 4th Qtr. 1977 should read "13,946" mil. $. tt In the 1979 BUSINESS STATISTICS, a n n u a l data for 1977 should read "2,604.8" m i l . $. ## Revisions back to 1977 are available upon request. INDISPENSABLE Economic Information from the Bureau of Economic Analysis SURVEY OF CURRENT BUSINESS BUSINESS CONDITIONS DIGEST The journal of record and research of the Bureau of Economic Analysis. Published monthly. The Wall Street Journal said it was "the single most useful government publication, in the opinion of many analysts." (March 21, 1977) Published monthly. ENTER MY SUBSCRIPTION TO Survey of Current Business Annual subscription: second class mail—$30.00 domestic; $37.50 foreign. Single copy: $4.75 domestic; $5.95 foreign. Business Conditions Digest Annual subscription: $55.00 domestic; $68.75 foreign. Single copy: $ 5.50 domestic; $ 6.90 foreign. Superintendent of Documents, U.S. Government Printing Office, Washington, D.C. 20402 Credit Card Orders Only D check, Enclosed is $ . Fill in the boxes below. Total charges $_ O money order, or charge to my Credit Deposit Account No. Card No. ORDER FORM To: 1 1 i i i i i i-n Order No.. Expiration Date ,—,—,—,—, Month/Year I II I I For Office Use Only Quantity Company or personal name Enclosed iAdditional i i iaddress/attention i i i i i line i i i i i i i i i i i i i i i i i i i i i I I I I I I I I I I I I I I I I I I I I I I I I I I I I I Ireet address y I IIIIIIIIIIIIIIIIIIIIIIIIIII State or Country) ZIP Code I I I I I I I I I I I I I I I I I I I I I I I I I I I I I PLEASE PRINT OR TYPE To be mailed Subscriptions Postage Foreign handling MMOB OPNR UPNS Discount Refund Charges INDEX TO CURRENT BUSINESS STATISTICS, Pages S1-S36 SECTIONS General: Business indicators 1-5 5,6 Commodity prices.................. Construction and real estate. Domestic trade ... 7,8 8,9 Labor force, employment, and earnings 9-13 Finance 13-16 Foreign trade of the United States 16-18 Transportation and communication ................. 18,19 Industry: Chemicals and allied products 19, 20 Electric power and gas 20 Food and kindred products; tobacco 20-23 Leather and products ....................................... 23 Lumber and products ....................................... 23, 24 Metals and manufactures — 24-27 Petroleum, coal, and products ...... 27, 28 Pulp, paper, and paper products... .....—. 28, 29 ....... 29 Rubber and rubber products........ ....... 30 Stone, clay, and glass products.... 30-32 Textile products 32 Transportation equipment 33-35 Footnotes «... INDIVIDUAL SERIES Advertising ...... — Aerospace vehicles Agricultural loans Air carrier operations Air conditioners (room) Aircraft and parts 32 13 18 27 4, 32 Alcohol, denatured and ethyl Alcoholic beverages Aluminum Apparel Asphalt... Automobiles, etc 8, 12 19 8, 20 25 2, 4-6, 8-12 28 2-4, 6, 8, 9,14, 15,17, 32 Banking Barley Battery shipments Beef and veal Beverages Blast furnaces, steel mills Bonds, issued, prices, sales, yields Brass and bronze Brick Building and construction materials Building costs Building permits ., Business incorporation (new), failures Business sales and inventories 13,14 21 27 22 8,17, 20 3-5 15-16 26 30 2, 4, 5 7 7 5 2, 3 Butter 21 Cattle and calves Cement.—,.—..—.— Chain-store sales, firms with 11 or more stores..................................... 22 30 Cheese. Chemicals Cigarettes and cigars Clay products Clothing (see apparel) 9 21 2-4,10-12,15,17,19, 20 23 2-4, 30 2, 27 22 22 27 Coal Cocoa............ Coffee Combustion, atmosphere, heating equipment 26 Communication Confectionery, sales 15,19 22 Construction: Contracts Costs Employment, unemployment, hours, earnings Highways and streets Housing starts New construction put in place ............ 7 7 10-12 7 7 ... 7 Consumer credit................................................... 14 Consumer goods output, index ............................ 1, 2 Consumer Price Index 5, 6 Copper and copper products ................................ 25, 26 Corn . . Cost of living (see Consumer Price Index) 21 5, 6 Cotton, raw and manufactures 5,30, 31 Credit, commercial bank, consumer.................... 14 Crops............. Crude oil Currency in circulation 5, 21, 23,30 3, 27 15 Dairy products .................................................... 5, 21 Debt, U.S. Government 14 Deflator, PCE...................................................... 1 Department stores, sales, inventories.................. 9 Deposits, bank 13,15 Dishwashers Disposition of personal income Distilled spirits . Dividend payments 27 1 20 1,15 Drugstores, sales Earnings, weekly and hourly 8, 9 12 Eating and drinking places Eggs and poultry Electric power Electrical machinery and equipment 8, 9 5, 22 2, 20 2-5, 10-12,15, 27 Employee-hours, aggregate, and indexes............. 11 Employment... 10,11 Explosives..... 20 Exports (see also individual commodities) 16,17 Failures, industrial and commercial 5 Farm prices , 5, 6 Farm wages 12 Fats and oils 17 Federal Government finance 14 Federal Reserve banks, large commercial 13 Federal Reserve member banks Fertilizers 13 19 Fish 22 Flooring, hardwood 24 Flour, wheat 22 Food products 2-6, 8,10-12,15,17, 20-23 Foeign trade (see also individual commod.) ... 16-18 Freight cars (equipment) 32 Fruits and vegetables 5 Fuel oil 5, 28 Fuels Furnaces 2, 6,17, 27, 28 27 Furniture 2, 6, 8-12 2, 6, 20 28 Gas, output, prices, sales, revenues.... Gasoline Glass and products Glycerin Gold. 30 ....... 19 14 5, 6, 21, 22 Grains and products Grocery stores 9 Gypsum and products 30 Hardware stores 8 Heating equipment 26 Help-wanted advertising index 12 Hides and skins 6 Highways and streets Hogs Home Loan banks, outstanding advances Home mortgages Hotels and motor-hotels Hours, average weekly Housefurnishings 7 22 8 8 18 11 2, 4, 5, 8, 9 Household appliances, radios, and television sets Housing starts and permits Imports (see also individual commodities) Income, personal 27 7 17,18 2 Income and employment tax receipts Industrial production indexes: 14 By industry 1, 2 By market grouping 1, 2 Installment credit Instruments and related products Interest and money rates 14 2-4,10-12 Inventories, manufacturers' and trade Inventory-sales ratios Iron and steel Labor advertising index.. 14 3, 4, 9 3 2,15, 24, 25 14 9,10 22 Lamb and mutton 26 Lead 2, 6,10-12, 23 Leather and products .... Livestock 5, 22 Loans, real estate, agricultural, bank (see Labor force also Consumer credit) Lubricants Lumber and products Machine tools 8,13 28 2, 6,10-12, 23, 24 26 Machinery 2-6,10-12,15,17, 26, 27 Manufacturers' sales (or shipments), inventories, orders 3-5 Manufacturing employment, unemployment, production workers, hours, earnings 10-12 Manufacturing production indexes 1, 2 Meat animals and meats Medical care Metals Milk Mining and minerals Monetary statistics Money and interest rates 5, 22 6 2-6, 10-12, 15, 24-26 21 2, 6, 10-12, 15 15 14 Money supply 15 Mortgage applications, loans, rates.................. 8,13, 14 Motor carriers Motor vehicles 18 2-4, 6, 8, 9,15, 17, 32 National parks, visits 18 Newsprint 29 New York Stock Exchange, selected data. .... 16 Nonferrous metals 2, 4, 5,15, 25, 26 Oats Oils and fats Orders, new and unfilled, manufacturers*........... 21 17 4, 5 Outlays, U.S. Government... Paint and paint materials 14 20 Paper and products and pulp 2-4, 6, 10-12,15, 28, 29 5 Parity ratio Passenger cars 2-4, 6, 8, 9,15, 17, 32 Passports issued Personal Consumption expenditures Personal income , Personal outlays Petroleum and products Pig iron Plastics and resin materials Population pork Poultry and eggs 18 1 1 1 2-4, 10-12,15, 17, 27, 28 24 20 9 22 5, 22 Price deflator, implicit (PCE) 1 Prices (see also individual commodities) 5, 6 Printing and publishing 2,10-12 Private sector employment, hours, earnings 10-12 Producer Price Indexes Profits, corporate Public utilities Pulp and pulpwood Purchasing power of the dollar 6 15 1, 2, 7, 15, 16, 20 28 6 Radio and television 8, 27 Railroads 13,16, 18, 32 Ranges 27 Rayon and acetate Real estate Receipts, U.S. Government 31 8,13 14 Refrigerators 27 Registrations (new vehicles) 32 Rent (housing) 6 Retail trade Rice 2, 3, 5, 8-12,14, 32 21 Rubber and products (incl. plastics) 2-4, 6,10-12, 29 Saving, personal Savings and loan assoc., new mortgage loans . Savings deposits — Securities issued Security markets Services Sheep and lambs Shoes and other footwear Silver Spindle activity, cotton Steel (raw) and steel manufactures Steel scrap Stock market customer financing Stock prices, yields, sales, etc Stone, clay, glass products Sugar 1 8 13 15 15,16 6,10-12 22 23 14 31 25 24 15 16 2-4,10-12,15, 30 23 Sulfur 19 Sulfuric acid 19 Superphosphate 19 Tea imports 23 Telephone and telegraph carriers 19 Television and radio Textiles and products Xin 27 2-4,10-12,15, 30, 31 26 Tires and inner tubes 29 Tobacco and manufactures...................... 2-4,10-12, 23 Tractors 27 Trade (retail and wholesale) 2, 3, 5, 8-12, 32 Transit lines, urban Transportation 18 6, 10-12, 15,16, 18 Transportation equipment 2-6,10-12,15,17, 32 Travel.. 18 Truck trailers 32 Trucks (industrial and other). 26, 27, 32 Unemployment and insurance........................... 9,10,13 U.S. Government bonds 16 U.S. Government finance 14 Utilities..... 2, 6, 7,15,16, 20 Vacuum cleaners Variety stores Vegetables and fruits Veterans' unemployment insurance Wages and salaries.................. Washers and dryers Water heaters Wheat and wheat flour — Wholesale trade Wood pulp , Wool and wool manufactures , Zinc 27 9 5 13 1,12 27 27 21, 22 2, 3, 5, 8, 10-12 28 31 26 UNITED STATES GOVERNMENT PRINTING OFFICE PUBLIC DOCUMENTS DEPARTMENT WASHINGTON, D.C. 20402 OFFICIAL BUSINESS 1983 RELEASE DATES FOR BEA ESTIMATES Subject Release Date* Plant and Equipment Expenditures, Plans for 1983 Personal Income,and Outlays, December 1982 Gross National Product (preliminary), 4th quarter 1982 Composite Indexes of Leading, Coincident, and Lagging Indicators, December 1982 Jan. 12 Jan. 18 Jan. 19 Merchandise Trade (balance of payments basis), 4th quarter 1982 State Personal Income, 3rd quarter 1982 Personal Income and Outlays, January 1983 Gross National Product (1st revision), 4th quarter 1982 Feb. Feb. Feb. Feb. Composite Indexes of Leading, Coincident, and Lagging Indicators, January 1983 Plant and Equipment Expenditures, Plans for 1983 Summary of International Transactions, 4th quarter 1982 Manufacturers9 Capacity Utilization, December 1982 Personal Income and Outlays, February 1983 Gross National Product (2nd revision), 4th quarter 1982 Corporate Profits (preliminary), 4th quarter 1982 Composite Indexes of Leading, Coincident, and Lagging Indicators, February 1983 Corporate Profits (revised), 4th quarter 1982 Personal Income and Outlays, March 1983 Gross National Product (preliminary), 1st quarter 1983 Composite Indexes of Leading, Coincident, and Lagging Indicators, March 1983 State Personal Income, 4th quarter 1982 and Per Capita Personal Income (preliminary), 1982 Merchandise Trade (balance of payments basis), 1st quarter 1983 Personal Income for Counties and SMSA's, 1981 Personal Income and Outlays, April 1983 Gross National Product (1st revision), 1st quarter 1983 Corporate Profits (preliminary), 1st quarter 1983 Composite Indexes of Leading, Coincident, and Lagging Indicators, April 1983 Plant and Equipment Expenditures, Plans for 1983 (revised) Summary of International Transactions, 1st quarter 1983 Manufacturers9 Capacity Utilization, March 1983 Personal Income and Outlays, May 1983 Gross National Product (2nd revision), 1st quarter 1983 Corporate Profits (revised), 1st quarter 1983 Composite Indexes of Leading, Coincident, and Lagging Indicators, May 1983 , Release Date* Personal Income and Outlays, June 1983 July 20 Gross National Product (preliminary), 2nd quarter 1983 July 21 Composite Indexes of Leading, Coincident, and Lagging Indicators, June 1983 July 29 Jan. 28 3 7 18 22 Mar. 2 Mar. 10 Mar. 17 Mar. 18 Mar. 18 Mar. 21 Mar. 21 Mar. 30 Apr. 18 Apr. 19 Apr. 20 Apr. 29 May 2 May 6 May 9 May 18 May 19 May 19 May 31 June June June June June June 9 16 17 20 21 21 June 29 *These are target dates; estimates may occasionally be released a day or two earlier or later. Subject Merchandise Trade (balance of payments basis), 2nd quarter 1983 State Personal Income, 1st quarter 1983 Personal Income and Outlays, July 1983 Gross National Product (1st revision), 2nd quarter 1983 Corporate Profits (preliminary), 2nd quarter 1983 Composite Indexes of Leading, Coincident, and Lagging Indicators, July 1983 Aug. Aug. Aug. Aug. Aug. 5 8 18 19 19 Aug. 31 Plant and Equipment Expenditures, Plans for 1983 (revised) State Personal Income and Per Capita Personal Income (revised), 1982 ..'. Summary of International Transactions, 2nd quarter 1983 Manufacturers9 Capacity Utilization, June 1983 Personal Income and Outlays, August 1983 Gross National Product (2nd revision), 2nd quarter 1983 Corporate Profits (revised), 2nd quarter 1983 Composite Indexes of Leading, Coincident, and Lagging Indicators, August 1983 Sept. 8 Personal Income and Outlays, September 1983 Gross National Product (preliminary), 3rd quarter 1983 Composite Indexes of Leading, Coincident, and Lagging Indicators, September 1983 Oct. 19 Oct. 20 Merchandise Trade (balance of payments basis), 3rd quarter 1983 State Personal Income, 2nd quarter 1983 Personal Income and Outlays, October 1983 Gross National Product (1st revision), 3rd quarter 1983 Corporate Profits (preliminary), 3rd quarter 1983 Composite Indexes of Leading, Coincident, and Lagging It tors, October 1983 Nov. 4 Nov. 7 ^T Plant and Equipment Expenditures, Plans for 1983 (revised) ar for first two quarters of 1984 Summary of International Transactions, 3rd quarter 1983 Manufacturers' Capacity Utilization, September 1983 Personal Income and Outlays, November 1983 Gross National Product (2nd revision), 3rd quarter 1983 .... Corporate Profits (revised), 3rd quarter 1983 Composite Indexes of Leading, Coincident, and Lagging I tors, November 1983 For information, call (202) 523-0777, Bureau of Econon Department of Commerce. Sept. Sept. Sept. Sept. Sept. Sept. 12 15 16 20 21 21 Sept. 30 Oct. 28