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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
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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
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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.
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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.
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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
@FedFRASER